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: 2014 | |||
CONSOLIDATED STATEMENTS OF OPERATIONS | |||
Period Ending Dec 31, 2014 10-K (Filed: Feb 24, 2015) | |||
| (In Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2014 | Dec 31, 2013 | Dec 31, 2012 | |
| REVENUES: | |||
| Rental and management | $ 4,006,854 | 3,287,090 | 2,803,490 |
| Network development services | 93,194 | 74,317 | 72,470 |
| Total operating revenues | 4,100,048 | 3,361,407 | 2,875,960 |
| OPERATING EXPENSES: | |||
| Rental and management (including stock-based compensation expense of $1,397, $977 and $793, respectively) | 1,056,177 | 828,742 | 686,681 |
| Network development services (including stock-based compensation expense of $440, $567 and $968, respectively) | 38,088 | 31,131 | 35,798 |
| Depreciation, amortization and accretion | 1,003,802 | 800,145 | 644,276 |
| Selling, general, administrative and development expense (including stock-based compensation expense of $78,316, $66,594 and $50,222, respectively) | 446,542 | 415,545 | 327,301 |
| Other operating expenses | 68,517 | 71,539 | 62,185 |
| Total operating expenses | 2,613,126 | 2,147,102 | 1,756,241 |
| OPERATING INCOME | 1,486,922 | 1,214,305 | 1,119,719 |
| OTHER INCOME (EXPENSE): | |||
| Interest income | 14,002 | 9,706 | 7,680 |
| Interest expense | (580,234) | (458,296) | (401,665) |
| Loss on retirement of long-term obligations | (3,473) | (38,701) | (398) |
| Other expense (including unrealized foreign currency losses of $49,319, $211,722 and $34,330, respectively) | (62,060) | (207,500) | (38,300) |
| Total other expense | (621,218) | (672,556) | (418,425) |
| INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES AND INCOME ON EQUITY METHOD INVESTMENTS | 865,704 | 541,749 | 701,294 |
| Income tax provision | (62,505) | (59,541) | (107,304) |
| Income on equity method investments | 0 | 0 | 35 |
| NET INCOME | 803,199 | 482,208 | 594,025 |
| Net loss attributable to noncontrolling interest | 21,711 | 69,125 | 43,258 |
| NET INCOME ATTRIBUTABLE TO AMERICAN TOWER CORPORATION STOCKHOLDERS | 824,910 | 551,333 | 637,283 |
| Dividends declared on preferred stock | (23,888) | 0 | 0 |
| NET INCOME ATTRIBUTABLE TO AMERICAN TOWER CORPORATION STOCKHOLDERS | 801,022 | 551,333 | 637,283 |
| NET INCOME PER COMMON SHARE AMOUNTS: | |||
| Basic net income attributable to American Tower Corporation common stockholders (in dollars per share) | 2.02 | 1.40 | 1.61 |
| Diluted net income attributable to American Tower Corporation common stockholders (in dollars per share) | 2.00 | 1.38 | 1.60 |
| WEIGHTED AVERAGE COMMON SHARES OUTSTANDING: | |||
| BASIC (in shares) | 395,958 | 395,040 | 394,772 |
| DILUTED (in shares) | 400,086 | 399,146 | 399,287 |
| Legal Entity | |||
| TV Azteca | |||
| Interest income, TV Azteca, net of interest expense of $1,482, $1,483 and $1,485, respectively | 10,547 | 22,235 | 14,258 |
| Interest expense | (1,482) | (1,483) | (1,485) |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
AMERICAN TOWER CORP /MA/ | |||
Ticker: AMT Fiscal Year: 2014 | |||
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME | |||
Period Ending Dec 31, 2014 10-K (Filed: Feb 24, 2015) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2014 | Dec 31, 2013 | Dec 31, 2012 | |
| Net income | $ 803,199 | 482,208 | 594,025 |
| Other comprehensive (loss) income: | |||
| Changes in fair value of cash flow hedges, net of taxes of $151, $(374) and $905, respectively | (1,931) | 1,107 | (5,315) |
| Reclassification of unrealized losses on cash flow hedges to net income, net of taxes of $(158), $(237) and $(208), respectively | 3,448 | 2,572 | 1,132 |
| Reclassification of unrealized losses on available-for-sale securities to net income | 0 | 0 | 495 |
| Foreign currency translation adjustments, net of taxes of $14,247, $9,207 and $7,677, respectively | (526,890) | (135,079) | (58,387) |
| Other comprehensive loss | (525,373) | (131,400) | (62,075) |
| Comprehensive income | 277,826 | 350,808 | 531,950 |
| Comprehensive loss attributable to noncontrolling interest | 64,083 | 72,652 | 64,603 |
| Comprehensive income attributable to American Tower Corporation stockholders | 341,909 | 423,460 | 596,553 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
AMERICAN TOWER CORP /MA/ | |||
Ticker: AMT Fiscal Year: 2014 | |||
CONSOLIDATED STATEMENTS OF CASH FLOWS | |||
Period Ending Dec 31, 2014 10-K (Filed: Feb 24, 2015) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2014 | Dec 31, 2013 | Dec 31, 2012 | |
| CASH FLOWS FROM OPERATING ACTIVITIES: | |||
| Net income | $ 803,199 | 482,208 | 594,025 |
| Adjustments to reconcile net income to cash provided by operating activities: | |||
| Depreciation, amortization and accretion | 1,003,802 | 800,145 | 644,276 |
| Stock-based compensation expense | 80,153 | 68,138 | 51,983 |
| Decrease (increase) in restricted cash | 7,522 | (52,717) | (26,500) |
| Loss on investments, unrealized foreign currency loss and other non-cash expense | 65,881 | 222,390 | 60,002 |
| Impairments, net loss on sale of long-lived assets, non-cash restructuring and merger related expenses | 26,143 | 32,672 | 34,280 |
| Loss on early retirement of long-term obligations | 3,379 | 35,288 | 0 |
| Amortization of deferred financing costs, debt discounts and premiums and other non-cash interest | (4,870) | 7,596 | 11,090 |
| Provision for losses on accounts receivable | (1,748) | (1,410) | (4,155) |
| Deferred income taxes | 1,384 | (29,485) | 29,300 |
| Changes in assets and liabilities, net of acquisitions: | |||
| Accounts receivable | (84,529) | (19,080) | (43,679) |
| Prepaid and other assets | (1,437) | (96,038) | 84,640 |
| Deferred rent asset | (122,230) | (145,689) | (164,219) |
| Accounts payable and accrued expenses | 34,711 | 83,746 | 21,880 |
| Accrued interest | 45,514 | 51,076 | 25,031 |
| Unearned revenue | 218,393 | 108,487 | 68,015 |
| Deferred rent liability | 38,378 | 30,246 | 33,707 |
| Other non-current liabilities | 20,944 | 21,474 | (5,285) |
| Cash provided by operating activities | 2,134,589 | 1,599,047 | 1,414,391 |
| CASH FLOWS FROM INVESTING ACTIVITIES | |||
| Payments for purchase of property and equipment and construction activities | (974,404) | (724,532) | (568,048) |
| Payments for acquisitions, net of cash acquired | (1,010,637) | (4,461,764) | (1,997,955) |
| Net proceeds from sale of assets | 15,464 | 0 | 0 |
| Proceeds from sales of short-term investments, available-for-sale securities and other long-term assets | 1,434,831 | 421,714 | 374,682 |
| Payments for short-term investments | (1,395,316) | (427,267) | (352,306) |
| Deposits, restricted cash and other | (19,486) | 18,512 | (14,758) |
| Cash used in investing activities | (1,949,548) | (5,173,337) | (2,558,385) |
| CASH FLOWS FROM FINANCING ACTIVITIES | |||
| Proceeds from (repayments of) short-term borrowings, net | 0 | 8,191 | (55,264) |
| Borrowings under credit facilities | 2,187,000 | 3,507,000 | 2,582,000 |
| Proceeds from issuance of senior notes, net | 1,415,844 | 2,221,792 | 698,670 |
| Proceeds from term loan | 0 | 1,500,000 | 750,000 |
| Proceeds from other long-term borrowings | 102,070 | 402,688 | 177,299 |
| Proceeds from issuance of Securities in Securitization transaction, net | 0 | 1,778,496 | 0 |
| Repayments of notes payable, credit facilities and capital leases | (3,903,144) | (5,337,339) | (2,658,566) |
| Contributions from noncontrolling interest holders, net | 9,098 | 17,447 | 52,761 |
| Purchases of common stock | 0 | (145,012) | (62,728) |
| Proceeds from stock options and stock purchase plan | 62,276 | 45,496 | 55,441 |
| Distributions paid on common stock | (404,631) | (434,687) | (355,574) |
| Distributions paid on preferred stock | (16,013) | 0 | 0 |
| Proceeds from the issuance of preferred stock, net | 583,105 | 0 | 0 |
| Purchase of preferred stock assumed in acquisition | (59,111) | 0 | 0 |
| Payment for early retirement of long-term obligations | (11,593) | (29,234) | 0 |
| Deferred financing costs and other financing activities | (34,670) | (9,273) | (13,673) |
| Purchase of noncontrolling interest | (64,822) | 0 | 0 |
| Cash (used in) provided by financing activities | (134,591) | 3,525,565 | 1,170,366 |
| Net effect of changes in foreign currency exchange rates on cash and cash equivalents | (30,534) | (26,317) | 12,055 |
| NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | 19,916 | (75,042) | 38,427 |
| CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR | 293,576 | 368,618 | |
| CASH AND CASH EQUIVALENTS, END OF YEAR | 313,492 | 293,576 | 368,618 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
AMERICAN TOWER CORP /MA/ | ||
Ticker: AMT Fiscal Year: 2014 | ||
CONSOLIDATED BALANCE SHEETS | ||
Period Ending Dec 31, 2014 10-K (Filed: Feb 24, 2015) | ||
| (In Thousands, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2014 | Dec 31, 2013 | |
| ASSETS | ||
| CURRENT ASSETS: | ||
| Cash and cash equivalents | $ 313,492 | 293,576 |
| Restricted cash | 160,206 | 152,916 |
| Short-term investments | 6,302 | 18,612 |
| Accounts receivable, net | 198,714 | 151,165 |
| Prepaid and other current assets | 254,622 | 347,417 |
| Deferred income taxes | 14,632 | 22,401 |
| Total current assets | 947,968 | 986,087 |
| PROPERTY AND EQUIPMENT, net | 7,626,817 | 7,177,728 |
| GOODWILL | 4,017,082 | 3,854,802 [1] |
| OTHER INTANGIBLE ASSETS, net | 6,889,331 | 6,570,119 |
| DEFERRED INCOME TAXES | 253,186 | 266,909 |
| DEFERRED RENT ASSET | 1,030,707 | 918,847 |
| NOTES RECEIVABLE AND OTHER NON-CURRENT ASSETS | 566,454 | 509,173 |
| TOTAL | 21,331,545 | 20,283,665 |
| LIABILITIES AND EQUITY | ||
| CURRENT LIABILITIES: | ||
| Accounts payable | 90,366 | 172,938 |
| Accrued expenses | 417,754 | 421,188 [2] |
| Distributions payable | 159,864 | 575 |
| Accrued interest | 130,265 | 105,751 |
| Current portion of long-term obligations | 897,624 | 70,132 |
| Unearned revenue | 233,819 | 162,079 |
| Total current liabilities | 1,929,692 | 932,663 |
| LONG-TERM OBLIGATIONS | 13,711,084 | 14,408,146 |
| ASSET RETIREMENT OBLIGATIONS | 609,035 | 549,548 |
| OTHER NON-CURRENT LIABILITIES | 1,028,382 | 803,268 |
| Total liabilities | 17,278,193 | 16,693,625 |
| COMMITMENTS AND CONTINGENCIES | ||
| EQUITY: | ||
| Preferred stock: $.01 par value; 20,000,000 shares authorized; 5.25% Mandatory Convertible Preferred Stock, Series A, 6,000,000 and no shares issued and outstanding, respectively | 60 | 0 |
| Common stock: $.01 par value; 1,000,000,000 shares authorized; 399,508,751 and 397,674,350 shares issued; and 396,698,725 and 394,864,324 shares outstanding, respectively | 3,995 | 3,976 |
| Additional paid-in capital | 5,788,786 | 5,130,616 |
| Distributions in excess of earnings | (837,320) | (1,081,467) |
| Accumulated other comprehensive loss | (794,221) | (311,220) |
| Treasury stock (2,810,026 shares at cost) | (207,740) | (207,740) |
| Total American Tower Corporation equity | 3,953,560 | 3,534,165 |
| Noncontrolling interest | 99,792 | 55,875 |
| Total equity | 4,053,352 | 3,590,040 |
| TOTAL | 21,331,545 | 20,283,665 |
| [1] Balances have been revised to reflect purchase accounting measurement period adjustments. | ||
| [2] December 31, 2013 balances have been revised to reflect purchase accounting measurement period adjustments. | ||
| External Links | |
| AMERICAN TOWER CORP /MA/ (AMT) Fiscal Year 2014 | |
| 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 |