10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||||||||||||||
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10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
AMERICAN TOWER CORP /MA/ | |||
Ticker: AMT Fiscal Year: 2013 | |||
CONSOLIDATED STATEMENTS OF OPERATIONS | |||
Period Ending Dec 31, 2013 10-K (Filed: Feb 26, 2014) | |||
| (In Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2013 | Dec 31, 2012 | Dec 31, 2011 | |
| REVENUES: | |||
| Rental and management | $ 3,287,090 | 2,803,490 | 2,386,185 |
| Network development services | 74,317 | 72,470 | 57,347 |
| Total operating revenues | 3,361,407 | 2,875,960 | 2,443,532 |
| OPERATING EXPENSES: | |||
| Rental and management (including stock-based compensation expense of $977, $793 and $1,105, respectively) | 828,742 | 686,681 | 590,272 |
| Network development services (including stock-based compensation expense of $567, $968 and $1,224, respectively) | 31,131 | 35,798 | 30,684 |
| Depreciation, amortization and accretion | 800,145 | 644,276 | 555,517 |
| Selling, general, administrative and development expense (including stock-based compensation expense of $66,594, $50,222 and $45,108, respectively) | 415,545 | 327,301 | 288,824 |
| Other operating expenses | 71,539 | 62,185 | 58,103 |
| Total operating expenses | 2,147,102 | 1,756,241 | 1,523,400 |
| OPERATING INCOME | 1,214,305 | 1,119,719 | 920,132 |
| OTHER INCOME (EXPENSE): | |||
| Interest income, TV Azteca, net of interest expense of $1,483, $1,485 and $1,474, respectively | 22,235 | 14,258 | 14,214 |
| Interest income | 9,706 | 7,680 | 7,378 |
| Interest expense | (458,296) | (401,665) | (311,854) |
| Loss on retirement of long-term obligations | (38,701) | (398) | 0 |
| Other expense (including unrealized foreign currency losses of $211,722, $34,330 and $131,053, respectively) | (207,500) | (38,300) | (122,975) |
| Total other expense | (672,556) | (418,425) | (413,237) |
| INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES AND INCOME ON EQUITY METHOD INVESTMENTS | 541,749 | 701,294 | 506,895 |
| Income tax provision | (59,541) | (107,304) | (125,080) |
| Income on equity method investments | 0 | 35 | 25 |
| NET INCOME | 482,208 | 594,025 | 381,840 |
| Net loss attributable to noncontrolling interest | 69,125 | 43,258 | 14,622 |
| NET INCOME ATTRIBUTABLE TO AMERICAN TOWER CORPORATION | 551,333 | 637,283 | 396,462 |
| NET INCOME PER COMMON SHARE AMOUNTS: | |||
| BASIC NET INCOME ATTRIBUTABLE TO AMERICAN TOWER CORPORATION | 1.40 | 1.61 | 1.00 |
| DILUTED NET INCOME ATTRIBUTABLE TO AMERICAN TOWER CORPORATION | 1.38 | 1.60 | 0.99 |
| WEIGHTED AVERAGE COMMON SHARES OUTSTANDING: | |||
| BASIC (in shares) | 395,040 | 394,772 | 395,711 |
| DILUTED (in shares) | 399,146 | 399,287 | 400,195 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
AMERICAN TOWER CORP /MA/ | |||
Ticker: AMT Fiscal Year: 2013 | |||
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME | |||
Period Ending Dec 31, 2013 10-K (Filed: Feb 26, 2014) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2013 | Dec 31, 2012 | Dec 31, 2011 | |
| Net income | $ 482,208 | 594,025 | 381,840 |
| Other comprehensive (loss) income: | |||
| Changes in fair value of cash flow hedges, net of taxes of $374, $905 and $1,334, respectively | 1,107 | (5,315) | 1,977 |
| Reclassification of unrealized losses on cash flow hedges to net income, net of taxes of $237, $208 and $74, respectively | 2,572 | 1,132 | 225 |
| Net unrealized loss on available-for-sale securities, net of taxes of $65 | 0 | 0 | (104) |
| Reclassification of unrealized losses on available-for-sale securities to net income | 0 | 495 | 0 |
| Foreign currency translation adjustments, net of taxes of $9,207, $7,677 and $1,702, respectively | (135,079) | (58,387) | (187,466) |
| Reclassifications due to REIT conversion | 0 | 0 | (1,752) |
| Other comprehensive loss | (131,400) | (62,075) | (187,120) |
| Comprehensive income | 350,808 | 531,950 | 194,720 |
| Comprehensive loss attributable to noncontrolling interest | 72,652 | 64,603 | 21,072 |
| Comprehensive income attributable to American Tower Corporation | 423,460 | 596,553 | 215,792 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
AMERICAN TOWER CORP /MA/ | |||
Ticker: AMT Fiscal Year: 2013 | |||
CONSOLIDATED STATEMENTS OF CASH FLOWS | |||
Period Ending Dec 31, 2013 10-K (Filed: Feb 26, 2014) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2013 | Dec 31, 2012 | Dec 31, 2011 | |
| CASH FLOWS FROM OPERATING ACTIVITIES: | |||
| Net income | $ 482,208 | 594,025 | 381,840 |
| Adjustments to reconcile net income to cash provided by operating activities: | |||
| Depreciation, amortization and accretion | 800,145 | 644,276 | 555,517 |
| Stock-based compensation expense | 68,138 | 51,983 | 47,437 |
| (Increase) decrease in restricted cash | (52,717) | (26,500) | 11,867 |
| Loss on investments, unrealized foreign currency loss and other non-cash expense | 222,390 | 60,002 | 149,191 |
| Impairments, net loss on sale of long-lived assets, non-cash restructuring and merger related expenses | 32,672 | 34,280 | 17,412 |
| Loss on early retirement of securitized debt | 35,288 | 0 | 0 |
| Amortization of deferred financing costs, debt discounts and other non-cash interest | 7,596 | 11,090 | 13,092 |
| Provision for losses on accounts receivable | (1,410) | (4,155) | 7,101 |
| Deferred income taxes | (29,485) | 29,300 | 56,852 |
| Changes in assets and liabilities, net of acquisitions: | |||
| Accounts receivable | (19,080) | (43,679) | (28,857) |
| Prepaid and other assets | (96,038) | 84,640 | (43,659) |
| Deferred rent asset | (145,689) | (164,219) | (143,994) |
| Accounts payable and accrued expenses | 83,746 | 21,880 | 84,699 |
| Accrued interest | 51,076 | 25,031 | 23,360 |
| Unearned revenue | 108,487 | 68,015 | (6,351) |
| Deferred rent liability | 30,246 | 33,707 | 30,952 |
| Other non-current liabilities | 21,474 | (5,285) | 9,483 |
| Cash provided by operating activities | 1,599,047 | 1,414,391 | 1,165,942 |
| CASH FLOWS FROM INVESTING ACTIVITIES | |||
| Payments for purchases of property and equipment and construction activities | (724,532) | (568,048) | (523,015) |
| Payments for acquisitions, net of cash acquired | (4,461,764) | (1,997,955) | (2,320,673) |
| Proceeds from sales of short-term investments, available-for-sale securities and other long-term assets | 421,714 | 374,682 | 69,971 |
| Payments for short-term investments | (427,267) | (352,306) | (42,590) |
| Deposits, restricted cash, investments and other | 18,512 | (14,758) | 25,495 |
| Cash used in investing activities | (5,173,337) | (2,558,385) | (2,790,812) |
| CASH FLOWS FROM FINANCING ACTIVITIES | |||
| Proceeds from (repayments of) short-term borrowings, net | 8,191 | (55,264) | 128,121 |
| Borrowings under credit facilities | 3,507,000 | 2,582,000 | 1,005,014 |
| Proceeds from issuance of senior notes, net | 2,221,792 | 698,670 | 499,290 |
| Proceeds from term loan credit facility | 1,500,000 | 750,000 | 0 |
| Proceeds from other long-term borrowings | 402,688 | 177,299 | 212,783 |
| Proceeds from issuance of Securities in Securitization transaction, net | 1,778,496 | 0 | 0 |
| Repayments of notes payable, credit facilities and capital leases | (5,337,339) | (2,658,566) | (395,384) |
| Contributions from noncontrolling interest holders, net | 17,447 | 52,761 | 140,880 |
| Purchases of common stock | (145,012) | (62,728) | (437,402) |
| Proceeds from stock options and Stock Purchase Plan | 45,496 | 55,441 | 85,642 |
| Distributions | (434,687) | (355,574) | (137,765) |
| Payment for early retirement of securitized debt | (29,234) | 0 | 0 |
| Deferred financing costs and other financing activities | (9,273) | (13,673) | (15,084) |
| Cash provided by financing activities | 3,525,565 | 1,170,366 | 1,086,095 |
| Net effect of changes in foreign currency exchange rates on cash and cash equivalents | (26,317) | 12,055 | (14,997) |
| NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS | (75,042) | 38,427 | (553,772) |
| CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR | 368,618 | 330,191 | |
| CASH AND CASH EQUIVALENTS, END OF YEAR | 293,576 | 368,618 | 330,191 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
AMERICAN TOWER CORP /MA/ | ||
Ticker: AMT Fiscal Year: 2013 | ||
CONSOLIDATED BALANCE SHEETS | ||
Period Ending Dec 31, 2013 10-K (Filed: Feb 26, 2014) | ||
| (In Thousands, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2013 | Dec 31, 2012 | |
| ASSETS | ||
| CURRENT ASSETS: | ||
| Cash and cash equivalents | $ 293,576 | 368,618 |
| Restricted cash | 152,916 | 69,316 |
| Short-term investments | 18,612 | 6,018 |
| Accounts receivable, net | 151,084 | 143,562 |
| Prepaid and other current assets | 314,067 | 222,999 |
| Deferred income taxes | 22,401 | 25,754 |
| Total current assets | 952,656 | 836,267 |
| PROPERTY AND EQUIPMENT, net | 7,262,175 | 5,765,856 [1] |
| GOODWILL | 3,729,901 | 2,842,643 [2] |
| OTHER INTANGIBLE ASSETS, net | 6,701,459 | 3,206,085 |
| DEFERRED INCOME TAXES | 262,529 | 209,589 |
| DEFERRED RENT ASSET | 918,847 | 776,201 |
| NOTES RECEIVABLE AND OTHER NON-CURRENT ASSETS | 445,004 | 452,788 |
| TOTAL | 20,272,571 | 14,089,429 |
| LIABILITIES AND EQUITY | ||
| CURRENT LIABILITIES: | ||
| Accounts payable | 171,050 | 89,578 |
| Accrued expenses | 415,324 | 286,962 |
| Distributions payable | 575 | 189 |
| Accrued interest | 105,751 | 71,271 |
| Current portion of long-term obligations | 70,132 | 60,031 |
| Unearned revenue | 161,926 | 124,147 |
| Total current liabilities | 924,758 | 632,178 |
| LONG-TERM OBLIGATIONS | 14,408,146 | 8,693,345 |
| ASSET RETIREMENT OBLIGATIONS | 526,869 | 435,624 |
| OTHER NON-CURRENT LIABILITIES | 822,758 | 644,101 |
| Total liabilities | 16,682,531 | 10,405,248 |
| COMMITMENTS AND CONTINGENCIES | ||
| EQUITY: | ||
| Preferred stock: $.01 par value; 20,000,000 shares authorized; no shares issued or outstanding | ||
| Common stock: $.01 par value; 1,000,000,000 shares authorized; 397,674,350 and 395,963,218 shares issued; and 394,864,324 and 395,091,213 shares outstanding, respectively | 3,976 | 3,959 |
| Additional paid-in capital | 5,130,616 | 5,012,124 |
| Distributions in excess of earnings | (1,081,467) | (1,196,907) |
| Accumulated other comprehensive loss | (311,220) | (183,347) |
| Treasury stock (2,810,026 and 872,005 shares at cost, respectively) | (207,740) | (62,728) |
| Total American Tower Corporation equity | 3,534,165 | 3,573,101 |
| Noncontrolling interest | 55,875 | 111,080 |
| Total equity | 3,590,040 | 3,684,181 |
| TOTAL | 20,272,571 | 14,089,429 |
| [1] December 31, 2012 balances have been revised to reflect purchase accounting measurement period adjustments. | ||
| [2] Balances have been revised to reflect purchase accounting measurement period adjustments. | ||
| External Links | |
| AMERICAN TOWER CORP /MA/ (AMT) Fiscal Year 2013 | |
| Statements of 10-K in Excel | https://www.sec.gov/.../Financial.xlxs |
| Complete 10-K in HTML | https://www.sec.gov/.../10-K.html |
| Complete 10-K in XBRL | https://www.sec.gov/.../10-K-xbrl.zip |