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: 2016 | |||
CONSOLIDATED STATEMENTS OF OPERATIONS | |||
Period Ending Dec 31, 2016 10-K (Filed: Feb 27, 2017) | |||
| (In Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2016 | Dec 31, 2015 | Dec 31, 2014 | |
| REVENUES: | |||
| Property | $ 5,713,126 | 4,680,388 | 4,006,854 |
| Services | 72,542 | 91,128 | 93,194 |
| Total operating revenues | 5,785,668 | 4,771,516 | 4,100,048 |
| OPERATING EXPENSES: | |||
| Property (including stock-based compensation expense of $1,750, $1,614 and $1,397, respectively) | 1,762,694 | 1,275,436 | 1,056,177 |
| Services (including stock-based compensation expense of $688, $439 and $440, respectively) | 27,695 | 33,432 | 38,088 |
| Depreciation, amortization and accretion | 1,525,635 | 1,285,328 | 1,003,802 |
| Selling, general, administrative and development expense (including stock-based compensation expense of $87,460, $88,484 and $78,316, respectively) | 543,395 | 497,835 | 446,542 |
| Other operating expenses | 73,220 | 66,696 | 68,517 |
| Total operating expenses | 3,932,639 | 3,158,727 | 2,613,126 |
| OPERATING INCOME | 1,853,029 | 1,612,789 | 1,486,922 |
| OTHER INCOME (EXPENSE): | |||
| Gain (loss) on retirement of long-term obligations | 1,168 | (79,606) | (3,473) |
| Other expense (including unrealized foreign currency losses of $23,439, $71,473 and $49,319, respectively) | (47,790) | (134,960) | (62,060) |
| Total other expense | (727,169) | (782,827) | (621,218) |
| INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES | 1,125,860 | 829,962 | 865,704 |
| Income tax provision | (155,501) | (157,955) | (62,505) |
| NET INCOME | 970,359 | 672,007 | 803,199 |
| Net (income) loss attributable to noncontrolling interests | (13,934) | 13,067 | 21,711 |
| NET INCOME ATTRIBUTABLE TO AMERICAN TOWER CORPORATION STOCKHOLDERS | 956,425 | 685,074 | 824,910 |
| Dividends on preferred stock | (107,125) | (90,163) | (23,888) |
| NET INCOME ATTRIBUTABLE TO AMERICAN TOWER CORPORATION COMMON STOCKHOLDERS | 849,300 | 594,911 | 801,022 |
| NET INCOME PER COMMON SHARE AMOUNTS: | |||
| Basic net income attributable to American Tower Corporation common stockholders (in dollars per share) | 2.00 | 1.42 | 2.02 |
| Diluted net income attributable to American Tower Corporation common stockholders (in dollars per share) | 1.98 | 1.41 | 2.00 |
| WEIGHTED AVERAGE COMMON SHARES OUTSTANDING: | |||
| BASIC (in shares) | 425,143 | 419 | 395,958 |
| DILUTED (in shares) | 429,283 | 423 | 400,086 |
| Legal Entity | |||
| TV Azteca | |||
| Interest income, TV Azteca, net of interest expense of $1,163, $820 and $1,482, respectively | 10,960 | 11,209 | 10,547 |
| Interest expense | (1,163) | (820) | (1,482) |
| Excluding TV Azteca | |||
| Interest income | 25,618 | 16,479 | 14,002 |
| Interest expense | (717,125) | (595,949) | (580,234) |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
AMERICAN TOWER CORP /MA/ | |||
Ticker: AMT Fiscal Year: 2016 | |||
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) | |||
Period Ending Dec 31, 2016 10-K (Filed: Feb 27, 2017) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2016 | Dec 31, 2015 | Dec 31, 2014 | |
| Net income | $ 970,359 | 672,007 | 803,199 |
| Other comprehensive (loss) income: | |||
| Changes in fair value of cash flow hedges, net of tax expense (benefit) of $0, $73 and $(151), respectively | (449) | 948 | (1,931) |
| Reclassification of unrealized losses on cash flow hedges to net income, net of tax expense (benefit) of $0, $84 and $(158), respectively | (291) | 2,440 | 3,448 |
| Foreign currency translation adjustments, net of tax expense (benefit) of $3,782, $(24,857) and $(14,247), respectively | (202,819) | (1,078,950) | (526,890) |
| Other comprehensive loss | (203,559) | (1,075,562) | (525,373) |
| Comprehensive income (loss) | 766,800 | (403,555) | 277,826 |
| Comprehensive loss attributable to noncontrolling interest | 18,218 | 45,854 | 64,083 |
| Comprehensive income (loss) attributable to American Tower Corporation stockholders | 785,018 | (357,701) | 341,909 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
AMERICAN TOWER CORP /MA/ | |||
Ticker: AMT Fiscal Year: 2016 | |||
CONSOLIDATED STATEMENTS OF CASH FLOWS | |||
Period Ending Dec 31, 2016 10-K (Filed: Feb 27, 2017) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2016 | Dec 31, 2015 | Dec 31, 2014 | |
| CASH FLOWS FROM OPERATING ACTIVITIES | |||
| Net income | $ 970,359 | 672,007 | 803,199 |
| Adjustments to reconcile net income to cash provided by operating activities: | |||
| Depreciation, amortization and accretion | 1,525,635 | 1,285,328 | 1,003,802 |
| Stock-based compensation expense | 89,898 | 90,537 | 80,153 |
| Decrease in restricted cash | 5,256 | 16,112 | 7,522 |
| Loss on investments, unrealized foreign currency loss and other non-cash expense | 127,377 | 146,170 | 64,133 |
| Impairments, net loss on sale of long-lived assets, non-cash restructuring and merger related expenses | 50,653 | 29,852 | 26,143 |
| (Gain) loss on early retirement of long-term obligations | (1,168) | 79,750 | 3,379 |
| Amortization of deferred financing costs, debt discounts and premiums and other non-cash interest | 17,702 | 6,932 | (4,870) |
| Deferred income taxes | 26,957 | 7,764 | 1,384 |
| Changes in assets and liabilities, net of acquisitions: | |||
| Accounts receivable | 11,352 | (56,312) | (84,529) |
| Prepaid and other assets | (83,229) | (91,113) | (1,437) |
| Deferred rent asset | (131,660) | (154,959) | (122,230) |
| Accounts payable and accrued expenses | (42,862) | 95,858 | 34,711 |
| Accrued interest | 34,386 | (15,641) | 45,514 |
| Unearned revenue | 16,557 | 12,945 | 218,393 |
| Deferred rent liability | 67,764 | 56,076 | 38,378 |
| Other non-current liabilities | 18,627 | 1,746 | 20,944 |
| Cash provided by operating activities | 2,703,604 | 2,183,052 | 2,134,589 |
| CASH FLOWS FROM INVESTING ACTIVITIES | |||
| Payments for purchase of property and equipment and construction activities | (682,505) | (728,753) | (974,404) |
| Payments for acquisitions, net of cash acquired | (1,416,373) | (1,961,056) | (1,010,637) |
| Payment for Verizon transaction | (4,748) | (5,059,462) | 0 |
| Proceeds from sale of assets, net of cash | 0 | 0 | 15,464 |
| Proceeds from sales of short-term investments and other non-current assets | 13,056 | 1,032,320 | 1,434,831 |
| Payments for short-term investments | (750) | (1,022,816) | (1,395,316) |
| Deposits, restricted cash and other | (16,126) | (1,968) | (19,486) |
| Cash used for investing activities | (2,107,446) | (7,741,735) | (1,949,548) |
| CASH FLOWS FROM FINANCING ACTIVITIES | |||
| Proceeds from short-term borrowings, net | 0 | 9,043 | 0 |
| Borrowings under credit facilities | 2,446,845 | 6,126,618 | 2,187,000 |
| Proceeds from issuance of senior notes, net | 3,236,383 | 1,492,298 | 1,415,844 |
| Proceeds from term loan | 0 | 500,000 | 0 |
| Proceeds from other borrowings | 0 | 54,549 | 102,070 |
| Proceeds from issuance of securities in securitization transaction | 0 | 875,000 | 0 |
| Repayments of notes payable, credit facilities, term loan, senior notes and capital leases | (5,093,747) | (6,393,405) | (3,903,144) |
| Contributions from noncontrolling interest holders, net | 238,480 | 7,201 | 9,098 |
| Proceeds from stock options and stock purchase plan | 92,473 | 50,716 | 62,276 |
| Distributions paid on common stock | (886,116) | (710,852) | (404,631) |
| Distributions paid on preferred stock | (107,125) | (84,647) | (16,013) |
| Proceeds from the issuance of common stock, net | 0 | 2,440,327 | 0 |
| Proceeds from the issuance of preferred stock, net | 0 | 1,337,946 | 583,105 |
| Purchase of preferred stock assumed in acquisition | 0 | 0 | (59,111) |
| Payment for early retirement of long-term obligations | (86) | (85,672) | (11,593) |
| Deferred financing costs and other financing activities | (26,401) | (30,021) | (34,670) |
| Purchase of noncontrolling interest | 0 | 0 | (64,822) |
| Cash (used for) provided by financing activities | (99,294) | 5,589,101 | (134,591) |
| Net effect of changes in foreign currency exchange rates on cash and cash equivalents | (30,389) | (23,224) | (30,534) |
| NET INCREASE IN CASH AND CASH EQUIVALENTS | 466,475 | 7,194 | 19,916 |
| CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR | 320,686 | 313,492 | |
| CASH AND CASH EQUIVALENTS, END OF YEAR | 787,161 | 320,686 | 313,492 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
AMERICAN TOWER CORP /MA/ | ||
Ticker: AMT Fiscal Year: 2016 | ||
CONSOLIDATED BALANCE SHEETS | ||
Period Ending Dec 31, 2016 10-K (Filed: Feb 27, 2017) | ||
| (In Thousands, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2016 | Dec 31, 2015 | |
| ASSETS | ||
| CURRENT ASSETS: | ||
| Cash and cash equivalents | $ 787,161 | 320,686 |
| Restricted cash | 149,281 | 142,193 |
| Short-term investments | 4,026 | 0 |
| Accounts receivable, net | 308,369 | 227,354 |
| Prepaid and other current assets | 441,033 | 306,235 |
| Total current assets | 1,689,870 | 996,468 |
| PROPERTY AND EQUIPMENT, net | 10,517,258 | 9,866,424 |
| GOODWILL | 5,070,680 | 4,091,805 |
| OTHER INTANGIBLE ASSETS, net | 11,274,611 | 9,837,876 |
| DEFERRED TAX ASSET | 195,678 | 212,041 |
| DEFERRED RENT ASSET | 1,289,530 | 1,166,755 |
| NOTES RECEIVABLE AND OTHER NON-CURRENT ASSETS | 841,523 | 732,903 |
| TOTAL | 30,879,150 | 26,904,272 |
| LIABILITIES AND EQUITY | ||
| CURRENT LIABILITIES: | ||
| Accounts payable | 118,666 | 96,714 |
| Accrued expenses | 620,563 | 516,413 |
| Distributions payable | 250,550 | 210,027 |
| Accrued interest | 157,297 | 115,672 |
| Current portion of long-term obligations | 238,806 | 50,202 |
| Unearned revenue | 245,387 | 211,001 |
| Total current liabilities | 1,631,269 | 1,200,029 |
| LONG-TERM OBLIGATIONS | 18,294,659 | 17,068,807 |
| ASSET RETIREMENT OBLIGATIONS | 965,507 | 856,936 |
| DEFERRED TAX LIABILITY | 777,572 | 106,333 |
| OTHER NON-CURRENT LIABILITIES | 1,142,723 | 959,349 |
| Total liabilities | 22,811,730 | 20,191,454 |
| COMMITMENTS AND CONTINGENCIES | ||
| REDEEMABLE NONCONTROLLING INTERESTS | 1,091,220 | 0 |
| EQUITY: | ||
| Common stock: $.01 par value; 1,000,000,000 shares authorized; 429,912,536 and 426,695,279 shares issued; and 427,102,510 and 423,885,253 shares outstanding, respectively | 4,299 | 4,267 |
| Additional paid-in capital | 10,043,559 | 9,690,609 |
| Distributions in excess of earnings | (1,076,965) | (998,535) |
| Accumulated other comprehensive loss | (1,999,332) | (1,836,996) |
| Treasury stock (2,810,026 shares at cost) | (207,740) | (207,740) |
| Total American Tower Corporation equity | 6,763,895 | 6,651,679 |
| Noncontrolling interests | 212,305 | 61,139 |
| Total equity | 6,976,200 | 6,712,818 |
| TOTAL | 30,879,150 | 26,904,272 |
| 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 shares issued and outstanding, respectively; aggregate liquidation value of $1,375,000 | 14 | 14 |
| Total equity | 14 | 14 |
| 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 shares issued and outstanding, respectively; aggregate liquidation value of $1,375,000 | 60 | 60 |
| Total equity | 60 | 60 |
| External Links | |
| AMERICAN TOWER CORP /MA/ (AMT) Fiscal Year 2016 | |
| 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 |