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: 2015 | |||
CONSOLIDATED STATEMENTS OF OPERATIONS | |||
Period Ending Dec 31, 2015 10-K (Filed: Feb 26, 2016) | |||
| (In Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2015 | Dec 31, 2014 | Dec 31, 2013 | |
| REVENUES: | |||
| Property | $ 4,680,388 | 4,006,854 | 3,287,090 |
| Services | 91,128 | 93,194 | 74,317 |
| Total operating revenues | 4,771,516 | 4,100,048 | 3,361,407 |
| OPERATING EXPENSES: | |||
| Property (including stock-based compensation expense of $1,614, $1,397 and $977, respectively) | 1,275,436 | 1,056,177 | 828,742 |
| Services (including stock-based compensation expense of $439, $440 and $567, respectively) | 33,432 | 38,088 | 31,131 |
| Depreciation, amortization and accretion | 1,285,328 | 1,003,802 | 800,145 |
| Selling, general, administrative and development expense (including stock-based compensation expense of $88,484, $78,316 and $66,594, respectively) | 497,835 | 446,542 | 415,545 |
| Other operating expenses | 66,696 | 68,517 | 71,539 |
| Total operating expenses | 3,158,727 | 2,613,126 | 2,147,102 |
| OPERATING INCOME | 1,612,789 | 1,486,922 | 1,214,305 |
| OTHER INCOME (EXPENSE): | |||
| Loss on retirement of long-term obligations | (79,606) | (3,473) | (38,701) |
| Other expense (including unrealized foreign currency losses of $71,473, $49,319 and $211,722, respectively) | (134,960) | (62,060) | (207,500) |
| Total other expense | (782,827) | (621,218) | (672,556) |
| INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES | 829,962 | 865,704 | 541,749 |
| Income tax provision | (157,955) | (62,505) | (59,541) |
| NET INCOME | 672,007 | 803,199 | 482,208 |
| Net loss attributable to noncontrolling interest | 13,067 | 21,711 | 69,125 |
| NET INCOME ATTRIBUTABLE TO AMERICAN TOWER CORPORATION STOCKHOLDERS | 685,074 | 824,910 | 551,333 |
| Dividends on preferred stock | (90,163) | (23,888) | 0 |
| NET INCOME ATTRIBUTABLE TO AMERICAN TOWER CORPORATION COMMON STOCKHOLDERS | 594,911 | 801,022 | 551,333 |
| NET INCOME PER COMMON SHARE AMOUNTS: | |||
| Basic net income attributable to American Tower Corporation common stockholders (in dollars per share) | 1.42 | 2.02 | 1.40 |
| Diluted net income attributable to American Tower Corporation common stockholders (in dollars per share) | 1.41 | 2.00 | 1.38 |
| WEIGHTED AVERAGE COMMON SHARES OUTSTANDING: | |||
| BASIC (in shares) | 418,907 | 395,958 | 395,040 |
| DILUTED (in shares) | 423,015 | 400,086 | 399,146 |
| Legal Entity | |||
| TV Azteca | |||
| Interest income, TV Azteca, net of interest expense of $820, $1,482 and $1,483, respectively | 11,209 | 10,547 | 22,235 |
| Interest expense | (820) | (1,482) | (1,483) |
| Excluding TV Azteca | |||
| Interest income | 16,479 | 14,002 | 9,706 |
| Interest expense | (595,949) | (580,234) | (458,296) |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
AMERICAN TOWER CORP /MA/ | |||
Ticker: AMT Fiscal Year: 2015 | |||
CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS) INCOME | |||
Period Ending Dec 31, 2015 10-K (Filed: Feb 26, 2016) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2015 | Dec 31, 2014 | Dec 31, 2013 | |
| Net income | $ 672,007 | 803,199 | 482,208 |
| Other comprehensive (loss) income: | |||
| Changes in fair value of cash flow hedges, net of tax expense (benefit) of $73, $(151) and $374, respectively | 948 | (1,931) | 1,107 |
| Reclassification of unrealized losses on cash flow hedges to net income, net of tax expense (benefit) of $84, $(158) and $(237), respectively | 2,440 | 3,448 | 2,572 |
| Foreign currency translation adjustments, net of tax benefit of $24,857, $14,247 and $9,207, respectively | (1,078,950) | (526,890) | (135,079) |
| Other comprehensive loss | (1,075,562) | (525,373) | (131,400) |
| Comprehensive (loss) income | (403,555) | 277,826 | 350,808 |
| Comprehensive loss attributable to noncontrolling interest | 45,854 | 64,083 | 72,652 |
| Comprehensive (loss) income attributable to American Tower Corporation stockholders | (357,701) | 341,909 | 423,460 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
AMERICAN TOWER CORP /MA/ | |||
Ticker: AMT Fiscal Year: 2015 | |||
CONSOLIDATED STATEMENTS OF CASH FLOWS | |||
Period Ending Dec 31, 2015 10-K (Filed: Feb 26, 2016) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2015 | Dec 31, 2014 | Dec 31, 2013 | |
| CASH FLOWS FROM OPERATING ACTIVITIES: | |||
| Net income | $ 672,007 | 803,199 | 482,208 |
| Adjustments to reconcile net income to cash provided by operating activities: | |||
| Depreciation, amortization and accretion | 1,285,328 | 1,003,802 | 800,145 |
| Stock-based compensation expense | 90,537 | 80,153 | 68,138 |
| Decrease (increase) in restricted cash | 16,112 | 7,522 | (52,717) |
| Loss on investments, unrealized foreign currency loss and other non-cash expense | 142,697 | 65,881 | 222,390 |
| Impairments, net loss on sale of long-lived assets, non-cash restructuring and merger related expenses | 29,852 | 26,143 | 32,672 |
| Loss on early retirement of long-term obligations | 79,750 | 3,379 | 35,288 |
| Amortization of deferred financing costs, debt discounts and premiums and other non-cash interest | 6,932 | (4,870) | 7,596 |
| Provision for losses on (recovery of) accounts receivable | 3,473 | (1,748) | (1,410) |
| Deferred income taxes | 7,764 | 1,384 | (29,485) |
| Changes in assets and liabilities, net of acquisitions: | |||
| Accounts receivable | (56,312) | (84,529) | (19,080) |
| Prepaid and other assets | (91,113) | (1,437) | (96,038) |
| Deferred rent asset | (154,959) | (122,230) | (145,689) |
| Accounts payable and accrued expenses | 95,858 | 34,711 | 83,746 |
| Accrued interest | (15,641) | 45,514 | 51,076 |
| Unearned revenue | 12,945 | 218,393 | 108,487 |
| Deferred rent liability | 56,076 | 38,378 | 30,246 |
| Other non-current liabilities | 1,746 | 20,944 | 21,474 |
| Cash provided by operating activities | 2,183,052 | 2,134,589 | 1,599,047 |
| CASH FLOWS FROM INVESTING ACTIVITIES | |||
| Payments for purchase of property and equipment and construction activities | (728,753) | (974,404) | (724,532) |
| Payments for acquisitions, net of cash acquired | (1,961,056) | (1,010,637) | (4,461,764) |
| Payment for Verizon transaction | (5,059,462) | 0 | 0 |
| Proceeds from sale of assets, net of cash | 0 | 15,464 | 0 |
| Proceeds from sales of short-term investments and other non-current assets | 1,032,320 | 1,434,831 | 421,714 |
| Payments for short-term investments | (1,022,816) | (1,395,316) | (427,267) |
| Deposits, restricted cash and other | (1,968) | (19,486) | 18,512 |
| Cash used for investing activities | (7,741,735) | (1,949,548) | (5,173,337) |
| CASH FLOWS FROM FINANCING ACTIVITIES | |||
| Proceeds from short-term borrowings, net | 9,043 | 0 | 8,191 |
| Borrowings under credit facilities | 6,126,618 | 2,187,000 | 3,507,000 |
| Proceeds from issuance of senior notes, net | 1,492,298 | 1,415,844 | 2,221,792 |
| Proceeds from term loan | 500,000 | 0 | 1,500,000 |
| Proceeds from other long-term borrowings | 54,549 | 102,070 | 402,688 |
| Proceeds from issuance of securities in securitization transaction | 875,000 | 0 | 1,778,496 |
| Repayments of notes payable, credit facilities, term loan, senior notes and capital leases | (6,393,405) | (3,903,144) | (5,337,339) |
| Contributions from noncontrolling interest holders, net | 7,201 | 9,098 | 17,447 |
| Purchases of common stock | 0 | 0 | (145,012) |
| Proceeds from stock options and stock purchase plan | 50,716 | 62,276 | 45,496 |
| Distributions paid on common stock | (710,852) | (404,631) | (434,687) |
| Distributions paid on preferred stock | (84,647) | (16,013) | 0 |
| Proceeds from the issuance of common stock, net | 2,440,327 | 0 | 0 |
| Proceeds from the issuance of preferred stock, net | 1,337,946 | 583,105 | 0 |
| Purchase of preferred stock assumed in acquisition | 0 | (59,111) | 0 |
| Payment for early retirement of long-term obligations | (85,672) | (11,593) | (29,234) |
| Deferred financing costs and other financing activities | (30,021) | (34,670) | (9,273) |
| Purchase of noncontrolling interest | 0 | (64,822) | 0 |
| Cash provided by (used for) financing activities | 5,589,101 | (134,591) | 3,525,565 |
| Net effect of changes in foreign currency exchange rates on cash and cash equivalents | (23,224) | (30,534) | (26,317) |
| NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | 7,194 | 19,916 | (75,042) |
| CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR | 313,492 | 293,576 | |
| CASH AND CASH EQUIVALENTS, END OF YEAR | 320,686 | 313,492 | 293,576 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
AMERICAN TOWER CORP /MA/ | ||
Ticker: AMT Fiscal Year: 2015 | ||
CONSOLIDATED BALANCE SHEETS | ||
Period Ending Dec 31, 2015 10-K (Filed: Feb 26, 2016) | ||
| (In Thousands, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2015 | Dec 31, 2014 | |
| ASSETS | ||
| CURRENT ASSETS: | ||
| Cash and cash equivalents | $ 320,686 | 313,492 |
| Restricted cash | 142,193 | 160,206 |
| Short-term investments | 0 | 6,302 [1] |
| Accounts receivable, net | 227,354 | 199,074 |
| Prepaid and other current assets | 306,235 | 264,793 |
| Deferred income taxes | 0 | 14,000 |
| Total current assets | 996,468 | 957,867 |
| PROPERTY AND EQUIPMENT, net | 9,866,424 | 7,590,112 |
| GOODWILL | 4,091,805 | 4,032,174 |
| OTHER INTANGIBLE ASSETS, net | 9,837,876 | 6,824,273 |
| DEFERRED INCOME TAXES | 212,041 | 253,186 |
| DEFERRED RENT ASSET | 1,166,755 | 1,030,707 |
| NOTES RECEIVABLE AND OTHER NON-CURRENT ASSETS | 732,903 | 575,246 [2] |
| TOTAL | 26,904,272 | 21,263,565 |
| LIABILITIES AND EQUITY | ||
| CURRENT LIABILITIES: | ||
| Accounts payable | 96,714 | 90,366 |
| Accrued expenses | 516,413 | 417,836 |
| Distributions payable | 210,027 | 159,864 |
| Accrued interest | 115,672 | 130,265 |
| Current portion of long-term obligations | 50,202 | 897,386 |
| Unearned revenue | 211,001 | 233,819 |
| Total current liabilities | 1,200,029 | 1,929,536 |
| LONG-TERM OBLIGATIONS | 17,068,807 | 13,642,955 |
| ASSET RETIREMENT OBLIGATIONS | 856,936 | 609,035 |
| OTHER NON-CURRENT LIABILITIES | 1,065,682 | 1,028,687 |
| Total liabilities | 20,191,454 | 17,210,213 |
| COMMITMENTS AND CONTINGENCIES | ||
| EQUITY: | ||
| Common stock: $.01 par value; 1,000,000,000 shares authorized; 426,695,279 and 399,508,751 shares issued; and 423,885,253 and 396,698,725 shares outstanding, respectively | 4,267 | 3,995 |
| Additional paid-in capital | 9,690,609 | 5,788,786 |
| Distributions in excess of earnings | (998,535) | (837,320) |
| Accumulated other comprehensive loss | (1,836,996) | (794,221) |
| Treasury stock (2,810,026 shares at cost) | (207,740) | (207,740) |
| Total American Tower Corporation equity | 6,651,679 | 3,953,560 |
| Noncontrolling interest | 61,139 | 99,792 |
| Total equity | 6,712,818 | 4,053,352 |
| TOTAL | 26,904,272 | 21,263,565 |
| Schedule of Financial Instruments Subject to Mandatory Redemption by Settlement Terms | ||
| Convertible Preferred Stock Subject to Mandatory Redemption | ||
| Class of Stock | ||
| Series B Preferred Stock | ||
| Equity Components | ||
| Preferred Stock | ||
| Preferred stock: $.01 par value: 20,000,000 authorized: 5.25%, Series A, 6,000,000 shares issued and outstanding; aggregate liquidation value of $600,000 - 5.50% Series B, 1,375,000 and no shares issued and outstanding, respectively; aggregate liquidation value of $1,375,000 | 14 | 0 |
| Total equity | 14 | 0 |
| Series A Preferred Stock | ||
| Preferred stock: $.01 par value: 20,000,000 authorized: 5.25%, Series A, 6,000,000 shares issued and outstanding; aggregate liquidation value of $600,000 - 5.50% Series B, 1,375,000 and no shares issued and outstanding, respectively; aggregate liquidation value of $1,375,000 | 60 | 60 |
| Total equity | 60 | 60 |
| [1] Consists of highly liquid investments with original maturities in excess of three months. | ||
| [2] December 31, 2014 balances have been revised to reflect purchase accounting measurement period adjustments and debt issuance costs. | ||
| External Links | |
| AMERICAN TOWER CORP /MA/ (AMT) Fiscal Year 2015 | |
| 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 |