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: 2017 | |||
CONSOLIDATED STATEMENTS OF OPERATIONS | |||
Period Ending Dec 31, 2017 10-K (Filed: Feb 28, 2018) | |||
| (In Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | |
| REVENUES: | |||
| Property | $ 6,565,900 | 5,713,100 | 4,680,400 |
| Services | 98,000 | 72,600 | 91,100 |
| Total operating revenues | 6,663,900 | 5,785,700 | 4,771,500 |
| OPERATING EXPENSES: | |||
| Property (including stock-based compensation expense of $2.1, $1.7 and $1.6, respectively) | 2,022,000 | 1,762,700 | 1,275,400 |
| Services (including stock-based compensation expense of $0.8, $0.7 and $0.4, respectively) | 34,600 | 27,700 | 33,400 |
| Depreciation, amortization and accretion | 1,715,900 | 1,525,600 | 1,285,300 |
| Selling, general, administrative and development expense (including stock-based compensation expense of $105.6, $87.5 and $88.5, respectively) | 637,000 | 543,400 | 497,800 |
| Other operating expenses | 256,000 | 73,300 | 66,800 |
| Total operating expenses | 4,665,500 | 3,932,700 | 3,158,700 |
| OPERATING INCOME | 1,998,400 | 1,853,000 | 1,612,800 |
| OTHER INCOME (EXPENSE): | |||
| (Loss) gain on retirement of long-term obligations | (70,200) | 1,200 | (79,600) |
| Other income (expense) (including unrealized foreign currency gains (losses) of $26.5, ($23.4), and ($71.5), respectively) | 31,300 | (47,700) | (135,000) |
| Total other expense | (742,300) | (727,100) | (782,800) |
| INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES | 1,256,100 | 1,125,900 | 830,000 |
| Income tax provision | (30,700) | (155,500) | (158,000) |
| NET INCOME | 1,225,400 | 970,400 | 672,000 |
| Net loss (income) attributable to noncontrolling interests | 13,500 | (14,000) | 13,100 |
| NET INCOME ATTRIBUTABLE TO AMERICAN TOWER CORPORATION STOCKHOLDERS | 1,238,900 | 956,400 | 685,100 |
| Dividends on preferred stock | (87,400) | (107,100) | (90,200) |
| NET INCOME ATTRIBUTABLE TO AMERICAN TOWER CORPORATION COMMON STOCKHOLDERS | 1,151,500 | 849,300 | 594,900 |
| NET INCOME PER COMMON SHARE AMOUNTS: | |||
| Basic net income attributable to American Tower Corporation common stockholders (in dollars per share) | 2.69 | 2.00 | 1.42 |
| Diluted net income attributable to American Tower Corporation common stockholders (in dollars per share) | 2.67 | 1.98 | 1.41 |
| WEIGHTED AVERAGE COMMON SHARES OUTSTANDING: | |||
| BASIC (in shares) | 428,181 | 425,143 | 418,907 |
| DILUTED (in shares) | 431,688 | 429,283 | 423,015 |
| Legal Entity | |||
| TV Azteca | |||
| Interest income, TV Azteca, net of interest expense of $1.2, $1.2 and $0.8, respectively | 10,800 | 10,900 | 11,200 |
| Interest expense | (1,200) | (1,200) | (800) |
| Excluding TV Azteca | |||
| Interest income | 35,400 | 25,600 | 16,500 |
| Interest expense | (749,600) | (717,100) | (595,900) |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
AMERICAN TOWER CORP /MA/ | |||
Ticker: AMT Fiscal Year: 2017 | |||
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) | |||
Period Ending Dec 31, 2017 10-K (Filed: Feb 28, 2018) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | |
| Net income | $ 1,225,400 | 970,400 | 672,000 |
| Other comprehensive (loss) income: | |||
| Changes in fair value of cash flow hedges, net of tax expense of $0, $0 and $0.1, respectively | (400) | (400) | 900 |
| Reclassification of unrealized losses on cash flow hedges to net income, net of tax expense of $0, $0 and $0.1, respectively | (100) | (300) | 2,400 |
| Foreign currency translation adjustments, net of tax expense (benefit) of $1.0, $3.8 million, and $(24.9), respectively | 144,400 | (202,900) | (1,078,900) |
| Other comprehensive income (loss) | 143,900 | (203,600) | (1,075,600) |
| Comprehensive income (loss) | 1,369,300 | 766,800 | (403,600) |
| Comprehensive (income) loss attributable to noncontrolling interest | (109,400) | 18,200 | 45,900 |
| Comprehensive income (loss) attributable to American Tower Corporation stockholders | 1,259,900 | 785,000 | (357,700) |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
AMERICAN TOWER CORP /MA/ | |||
Ticker: AMT Fiscal Year: 2017 | |||
CONSOLIDATED STATEMENTS OF CASH FLOWS | |||
Period Ending Dec 31, 2017 10-K (Filed: Feb 28, 2018) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | |
| CASH FLOWS FROM OPERATING ACTIVITIES | |||
| Net income | $ 1,225,400 | 970,400 | 672,000 |
| Adjustments to reconcile net income to cash provided by operating activities: | |||
| Depreciation, amortization and accretion | 1,715,900 | 1,525,600 | 1,285,300 |
| Stock-based compensation expense | 108,500 | 89,900 | 90,500 |
| (Gain) loss on investments, unrealized foreign currency loss and other non-cash expense | (18,000) | 127,400 | 146,200 |
| Impairments, net loss on sale of long-lived assets, non-cash restructuring and merger related expenses | 242,400 | 50,700 | 29,900 |
| Loss (gain) on early retirement of long-term obligations | 70,200 | (1,200) | 79,800 |
| Amortization of deferred financing costs, debt discounts and premiums and other non-cash interest | 20,000 | 17,700 | 6,900 |
| Deferred income taxes | (86,600) | 27,000 | 7,800 |
| Changes in assets and liabilities, net of acquisitions: | |||
| Accounts receivable | (191,100) | 11,400 | (56,300) |
| Prepaid and other assets | (179,900) | (80,000) | (91,100) |
| Deferred rent asset | (194,400) | (131,700) | (155,000) |
| Accounts payable and accrued expenses | 95,800 | (42,900) | 95,900 |
| Accrued interest | 9,200 | 34,400 | (15,600) |
| Unearned revenue | 59,300 | 16,600 | 12,900 |
| Deferred rent liability | 62,300 | 67,800 | 56,100 |
| Other non-current liabilities | (13,400) | 18,600 | 1,600 |
| Cash provided by operating activities | 2,925,600 | 2,701,700 | 2,166,900 |
| CASH FLOWS FROM INVESTING ACTIVITIES | |||
| Payments for purchase of property and equipment and construction activities | (803,600) | (682,500) | (728,800) |
| Payments for acquisitions, net of cash acquired | (2,007,000) | (1,411,300) | (1,961,100) |
| Payment for Verizon transaction | 0 | (4,700) | (5,059,500) |
| Proceeds from sales of short-term investments and other non-current assets | 14,700 | 13,100 | 1,032,300 |
| Payments for short-term investments | 0 | (800) | (1,022,800) |
| Deposits and other | (5,000) | (16,100) | (1,800) |
| Cash used for investing activities | (2,800,900) | (2,102,300) | (7,741,700) |
| CASH FLOWS FROM FINANCING ACTIVITIES | |||
| Proceeds from short-term borrowings, net | 0 | 0 | 9,000 |
| Borrowings under credit facilities | 5,359,400 | 2,446,800 | 6,126,600 |
| Proceeds from issuance of senior notes, net | 2,674,000 | 3,236,400 | 1,492,300 |
| Proceeds from term loan | 0 | 0 | 500,000 |
| Proceeds from other borrowings | 0 | 0 | 54,500 |
| Proceeds from issuance of securities in securitization transaction | 0 | 0 | 875,000 |
| Repayments of notes payable, credit facilities, term loan, senior notes and capital leases | (6,484,400) | (5,093,700) | (6,393,400) |
| Contributions from noncontrolling interest holders, net | 264,300 | 238,500 | 7,200 |
| Purchases of common stock | (766,300) | 0 | 0 |
| Proceeds from stock options and stock purchase plan | 119,700 | 92,500 | 50,700 |
| Distributions paid on common stock | (1,073,000) | (886,100) | (710,900) |
| Distributions paid on preferred stock | (91,400) | (107,100) | (84,600) |
| Proceeds from the issuance of common stock, net | 0 | 0 | 2,440,300 |
| Proceeds from the issuance of preferred stock, net | 0 | 0 | 1,337,900 |
| Payment for early retirement of long-term obligations | (75,300) | (100) | (85,700) |
| Deferred financing costs and other financing activities | (40,000) | (26,500) | (25,800) |
| Cash (used for) provided by financing activities | (113,000) | (99,300) | 5,593,100 |
| Net effect of changes in foreign currency exchange rates on cash and cash equivalents, and restricted cash | 6,700 | (26,500) | (29,100) |
| NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS, AND RESTRICTED CASH | 18,400 | 473,600 | (10,800) |
| CASH AND CASH EQUIVALENTS, AND RESTRICTED CASH, BEGINNING OF YEAR | 936,500 | 462,900 | |
| CASH AND CASH EQUIVALENTS, AND RESTRICTED CASH, END OF YEAR | 954,900 | 936,500 | 462,900 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
AMERICAN TOWER CORP /MA/ | ||
Ticker: AMT Fiscal Year: 2017 | ||
CONSOLIDATED BALANCE SHEETS | ||
Period Ending Dec 31, 2017 10-K (Filed: Feb 28, 2018) | ||
| (In Thousands, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2017 | Dec 31, 2016 | |
| ASSETS | ||
| CURRENT ASSETS: | ||
| Cash and cash equivalents | $ 802,100 | 787,200 |
| Restricted cash | 152,800 | 149,300 |
| Short-term investments | 1,000 | 4,000 |
| Accounts receivable, net | 513,600 | 308,400 |
| Prepaid and other current assets | 568,600 | 441,000 |
| Total current assets | 2,038,100 | 1,689,900 |
| PROPERTY AND EQUIPMENT, net | 11,101,000 | 10,517,300 |
| GOODWILL | 5,638,400 | 5,070,700 |
| OTHER INTANGIBLE ASSETS, net | 11,783,300 | 11,274,600 |
| DEFERRED TAX ASSET | 204,400 | 195,700 |
| DEFERRED RENT ASSET | 1,499,000 | 1,289,500 |
| NOTES RECEIVABLE AND OTHER NON-CURRENT ASSETS | 950,100 | 841,500 |
| TOTAL | 33,214,300 | 30,879,200 |
| CURRENT LIABILITIES: | ||
| Accounts payable | 142,900 | 118,700 |
| Accrued expenses | 854,300 | 620,500 |
| Distributions payable | 304,400 | 250,600 |
| Accrued interest | 166,900 | 157,300 |
| Current portion of long-term obligations | 774,800 | 238,800 |
| Unearned revenue | 268,800 | 245,400 |
| Total current liabilities | 2,512,100 | 1,631,300 |
| LONG-TERM OBLIGATIONS | 19,430,300 | 18,294,700 |
| ASSET RETIREMENT OBLIGATIONS | 1,175,300 | 965,500 |
| DEFERRED TAX LIABILITY | 898,100 | 777,600 |
| OTHER NON-CURRENT LIABILITIES | 1,244,200 | 1,142,600 |
| Total liabilities | 25,260,000 | 22,811,700 |
| COMMITMENTS AND CONTINGENCIES | ||
| REDEEMABLE NONCONTROLLING INTERESTS | 1,126,200 | 1,091,300 |
| EQUITY (shares in thousands): | ||
| Common stock: $.01 par value; 1,000,000 shares authorized; 437,729 and 429,913 shares issued; and 428,820 and 427,103 shares outstanding, respectively | 4,400 | 4,300 |
| Additional paid-in capital | 10,247,500 | 10,043,500 |
| Distributions in excess of earnings | (1,058,100) | (1,077,000) |
| Accumulated other comprehensive loss | (1,978,300) | (1,999,300) |
| Treasury stock (8,909 and 2,810 shares at cost, respectively) | (974,000) | (207,700) |
| Total American Tower Corporation equity | 6,241,500 | 6,763,900 |
| Noncontrolling interests | 586,600 | 212,300 |
| Total equity | 6,828,100 | 6,976,200 |
| TOTAL | 33,214,300 | 30,879,200 |
| Schedule of Financial Instruments Subject to Mandatory Redemption by Settlement Terms | ||
| Convertible Preferred Stock Subject to Mandatory Redemption | ||
| Class of Stock | ||
| 5.25%, Series A, 6,000 shares issued, 0 and 6,000 shares outstanding; aggregate liquidation value of $0.0 and $0.6, respectively | ||
| Preferred stock: $.01 par value; 20,000 shares authorized; | 0 | 100 |
| 5.50%, Series B, 1,375 shares issued, 1,375 shares outstanding; aggregate liquidation value of $1.4 | ||
| Equity Components | ||
| Preferred stock | ||
| Total equity | 0 | 0 |
| Preferred stock: $.01 par value; 20,000 shares authorized; | 0 | 0 |
| 5.25%, Series A, 6,000 shares issued, 0 and 6,000 shares outstanding; aggregate liquidation value of $0.0 and $0.6, respectively | ||
| Total equity | 0 | 100 |
| External Links | |
| AMERICAN TOWER CORP /MA/ (AMT) Fiscal Year 2017 | |
| 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 |