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: 2019 | |||
CONSOLIDATED STATEMENTS OF OPERATIONS | |||
Period Ending Dec 31, 2019 10-K (Filed: Feb 25, 2020) | |||
| (In Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
| REVENUES: | |||
| Revenue from contracts with customers | $ 527,200 | 491,300 | |
| Revenues | 7,580,300 | 7,440,100 | 6,663,900 |
| OPERATING EXPENSES: | |||
| Property | 2,173,700 | 2,128,700 | 2,022,000 |
| Services | 43,100 | 49,100 | 34,600 |
| Depreciation, amortization and accretion | 1,778,400 | 2,110,800 | 1,715,900 |
| Selling, general, administrative and development expense | 730,400 | 733,200 | 637,000 |
| Other operating expenses | 166,300 | 513,300 | 256,000 |
| Total operating expenses | 4,891,900 | 5,535,100 | 4,665,500 |
| OPERATING INCOME | 2,688,400 | 1,905,000 | 1,998,400 |
| OTHER INCOME (EXPENSE): | |||
| Interest (expense) income, TV Azteca | 0 | (100) | 10,800 |
| Interest income | 46,800 | 54,700 | 35,400 |
| Interest expense | (814,200) | (825,500) | (749,600) |
| Loss on retirement of long-term obligations | (22,200) | (3,300) | (70,200) |
| Other income (including foreign currency gains (losses) of $6.1, ($4.5), and $26.4, respectively) | 17,600 | 23,800 | 31,300 |
| Total other expense | (772,000) | (750,400) | (742,300) |
| INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES | 1,916,400 | 1,154,600 | 1,256,100 |
| Income tax benefit (provision) | 200 | 110,100 | (30,700) |
| NET INCOME | 1,916,600 | 1,264,700 | 1,225,400 |
| Net (income) loss attributable to noncontrolling interests | (28,800) | (28,300) | 13,500 |
| NET INCOME ATTRIBUTABLE TO AMERICAN TOWER CORPORATION STOCKHOLDERS | 1,887,800 | 1,236,400 | 1,238,900 |
| Dividends on preferred stock | 0 | (9,400) | (87,400) |
| NET INCOME ATTRIBUTABLE TO AMERICAN TOWER CORPORATION COMMON STOCKHOLDERS | 1,887,800 | 1,227,000 | 1,151,500 |
| NET INCOME PER COMMON SHARE AMOUNTS: | |||
| Basic net income attributable to American Tower Corporation common stockholders (in dollars per share) | 4.27 | 2.79 | 2.69 |
| Diluted net income attributable to American Tower Corporation common stockholders (in dollars per share) | 4.24 | 2.77 | 2.67 |
| WEIGHTED AVERAGE COMMON SHARES OUTSTANDING: | |||
| BASIC (in shares) | 442,319 | 439,606 | 428,181 |
| DILUTED (in shares) | 445,520 | 442,960 | 431,688 |
| Product and Service | |||
| Property | |||
| Revenues | 7,464,900 | 7,314,700 | 6,565,900 |
| Services | |||
| Revenue from contracts with customers | 115,400 | 125,400 | 98,000 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
AMERICAN TOWER CORP /MA/ | |||
Ticker: AMT Fiscal Year: 2019 | |||
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME | |||
Period Ending Dec 31, 2019 10-K (Filed: Feb 25, 2020) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
| Net income | $ 1,916,600 | 1,264,700 | 1,225,400 |
| Other comprehensive (loss) income: | |||
| Changes in fair value of cash flow hedges, each net of tax expense of $0 | (100) | (100) | (400) |
| Reclassification of unrealized losses (gains) on cash flow hedges to net income, each net of tax expense of $0 | 200 | 300 | (100) |
| Adjustment to redeemable noncontrolling interest | 0 | 78,800 | 0 |
| Purchase of noncontrolling interest | 0 | 500 | 0 |
| Foreign currency translation adjustments, net of tax expense (benefit) of $0.5, ($2.6), and $1.0, respectively | (157,900) | (869,300) | 144,400 |
| Other comprehensive (loss) income | (157,800) | (789,800) | 143,900 |
| Comprehensive income | 1,758,800 | 474,900 | 1,369,300 |
| Comprehensive loss (income) attributable to noncontrolling interests | 3,800 | 96,900 | (109,400) |
| Allocation of accumulated other comprehensive income resulting from purchase of noncontrolling interest and redeemable noncontrolling interest | (55,500) | 0 | 0 |
| Comprehensive income attributable to American Tower Corporation stockholders | 1,707,100 | 571,800 | 1,259,900 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
AMERICAN TOWER CORP /MA/ | |||
Ticker: AMT Fiscal Year: 2019 | |||
CONSOLIDATED STATEMENTS OF CASH FLOWS | |||
Period Ending Dec 31, 2019 10-K (Filed: Feb 25, 2020) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
| CASH FLOWS FROM OPERATING ACTIVITIES | |||
| Net income | $ 1,916,600 | 1,264,700 | 1,225,400 |
| Adjustments to reconcile net income to cash provided by operating activities: | |||
| Depreciation, amortization and accretion | 1,778,400 | 2,110,800 | 1,715,900 |
| Stock-based compensation expense | 111,400 | 137,500 | 108,500 |
| Loss (gain) on investments, unrealized foreign currency loss and other non-cash expense | 46,200 | 47,300 | (18,000) |
| Impairments, net loss on sale of long-lived assets, non-cash restructuring and merger related expenses | 140,000 | 479,600 | 242,400 |
| Loss on early retirement of long-term obligations | 22,200 | 3,300 | 70,200 |
| Amortization of deferred financing costs, debt discounts and premiums and other non-cash interest | 25,900 | 22,100 | 20,000 |
| Deferred income taxes | (55,100) | (303,000) | (86,600) |
| Changes in assets and liabilities, net of acquisitions: | |||
| Accounts receivable | 12,500 | (32,100) | (191,100) |
| Prepaid and other assets | (67,600) | (101,700) | (179,900) |
| Deferred rent asset | (183,500) | (87,600) | (194,400) |
| Right-of-use asset and Operating lease liability, net | 17,400 | ||
| Accounts payable and accrued expenses | (46,800) | 69,300 | 95,800 |
| Accrued interest | 32,400 | 8,400 | 9,200 |
| Unearned revenue | 2,500 | 85,800 | 59,300 |
| Deferred rent liability | 0 | 57,900 | 62,300 |
| Other non-current liabilities | 100 | (14,000) | (13,400) |
| Cash provided by operating activities | 3,752,600 | 3,748,300 | 2,925,600 |
| CASH FLOWS FROM INVESTING ACTIVITIES | |||
| Payments for purchase of property and equipment and construction activities | (991,300) | (913,200) | (803,600) |
| Payments for acquisitions, net of cash acquired | (2,959,600) | (1,881,400) | (2,007,000) |
| Proceeds from sales of short-term investments and other non-current assets | 383,500 | 1,252,200 | 14,700 |
| Payments for short-term investments | (355,900) | (1,154,300) | 0 |
| Deposits and other | (64,200) | (52,800) | (5,000) |
| Cash used for investing activities | (3,987,500) | (2,749,500) | (2,800,900) |
| CASH FLOWS FROM FINANCING ACTIVITIES | |||
| Borrowings under credit facilities | 5,750,000 | 3,263,300 | 5,359,400 |
| Proceeds from issuance of senior notes, net | 4,876,700 | 584,900 | 2,674,000 |
| Proceeds from term loan | 1,300,000 | 1,500,000 | 0 |
| Proceeds from issuance of securities in securitization transaction | 0 | 500,000 | 0 |
| Repayments of notes payable, credit facilities, term loan, senior notes, secured debt, finance leases and capital leases | (9,225,300) | (4,884,800) | (6,484,400) |
| Distributions to non-controlling interests holders | (11,800) | (14,400) | |
| Contributions from noncontrolling interest holders | 264,300 | ||
| Purchases of common stock | (19,600) | (232,800) | (766,300) |
| Proceeds from stock options and employee stock purchase plan | 105,500 | 98,900 | 119,700 |
| Distributions paid on common stock | (1,603,000) | (1,323,500) | (1,073,000) |
| Distributions paid on preferred stock | 0 | (18,900) | (91,400) |
| Payment for early retirement of long-term obligations | (21,000) | (3,300) | (75,300) |
| Deferred financing costs and other financing activities | (135,600) | (56,600) | (40,000) |
| Purchase of redeemable noncontrolling interest | (425,700) | 0 | 0 |
| Purchase of noncontrolling interest | (68,500) | (20,500) | 0 |
| Cash provided by (used for) financing activities | 521,700 | (607,700) | (113,000) |
| Net effect of changes in foreign currency exchange rates on cash and cash equivalents, and restricted cash | (13,700) | (41,100) | 6,700 |
| NET INCREASE IN CASH AND CASH EQUIVALENTS, AND RESTRICTED CASH | 273,100 | 350,000 | 18,400 |
| CASH AND CASH EQUIVALENTS, AND RESTRICTED CASH, BEGINNING OF YEAR | 1,304,900 | 954,900 | |
| CASH AND CASH EQUIVALENTS, AND RESTRICTED CASH, END OF YEAR | 1,578,000 | 1,304,900 | 954,900 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
AMERICAN TOWER CORP /MA/ | ||
Ticker: AMT Fiscal Year: 2019 | ||
CONSOLIDATED BALANCE SHEETS | ||
Period Ending Dec 31, 2019 10-K (Filed: Feb 25, 2020) | ||
| (In Thousands, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2019 | Dec 31, 2018 | |
| ASSETS | ||
| CURRENT ASSETS: | ||
| Cash and cash equivalents | $ 1,501,200 | 1,208,700 |
| Restricted cash | 76,800 | 96,200 |
| Accounts receivable, net | 462,200 | 459,000 |
| Prepaid and other current assets | 513,600 | 621,200 |
| Total current assets | 2,553,800 | 2,385,100 |
| PROPERTY AND EQUIPMENT, net | 12,084,400 | |
| PROPERTY AND EQUIPMENT, net | 11,247,100 | |
| GOODWILL | 6,178,300 | 5,501,900 |
| OTHER INTANGIBLE ASSETS, net | 12,318,400 | 11,174,300 |
| DEFERRED TAX ASSET | 131,800 | 157,700 |
| DEFERRED RENT ASSET | 1,771,100 | 1,581,700 |
| RIGHT-OF-USE ASSET | 7,357,400 | |
| NOTES RECEIVABLE AND OTHER NON-CURRENT ASSETS | 406,400 | 962,600 |
| TOTAL | 42,801,600 | 33,010,400 |
| LIABILITIES | ||
| CURRENT LIABILITIES: | ||
| Accounts payable | 148,100 | 130,800 |
| Accrued expenses | 958,200 | 948,300 |
| Distributions payable | 455,000 | 377,400 |
| Accrued interest | 209,400 | 174,500 |
| Current portion of operating lease liability | 494,500 | |
| Current portion of long-term obligations | 2,928,200 | 2,754,800 |
| Unearned revenue | 294,300 | 304,100 |
| Total current liabilities | 5,487,700 | 4,689,900 |
| LONG-TERM OBLIGATIONS | 21,127,200 | 18,405,100 |
| OPERATING LEASE LIABILITY | 6,510,400 | |
| ASSET RETIREMENT OBLIGATIONS | 1,384,100 | 1,210,000 |
| DEFERRED TAX LIABILITY | 768,300 | 535,900 |
| OTHER NON-CURRENT LIABILITIES | 937,000 | 1,265,100 |
| Total liabilities | 36,214,700 | 26,106,000 |
| COMMITMENTS AND CONTINGENCIES | ||
| REDEEMABLE NONCONTROLLING INTERESTS | 1,096,500 | 1,004,800 |
| EQUITY (shares in thousands): | ||
| Common stock: $.01 par value; 1,000,000 shares authorized; 453,541 and 451,617 shares issued; and 442,890 and 441,060 shares outstanding, respectively | 4,500 | 4,500 |
| Additional paid-in capital | 10,117,700 | 10,380,800 |
| Distributions in excess of earnings | (1,016,800) | (1,199,500) |
| Accumulated other comprehensive loss | (2,823,600) | (2,642,900) |
| Treasury stock (10,651 and 10,557 shares at cost, respectively) | (1,226,400) | (1,206,800) |
| Total American Tower Corporation equity | 5,055,400 | 5,336,100 |
| Noncontrolling interests | 435,000 | 563,500 |
| Total equity | 5,490,400 | 5,899,600 |
| TOTAL | 42,801,600 | 33,010,400 |
| External Links | |
| AMERICAN TOWER CORP /MA/ (AMT) Fiscal Year 2019 | |
| 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 |