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: 2021 | |||
CONSOLIDATED STATEMENTS OF OPERATIONS | |||
Period Ending Dec 31, 2021 10-K (Filed: Feb 25, 2022) | |||
| (In Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
| REVENUES: | |||
| Total operating revenues | $ 9,356,900 | 8,041,500 | 7,580,300 |
| OPERATING EXPENSES: | |||
| Costs of operations (exclusive of items shown separately below): | |||
| Property | 2,585,300 | 2,189,600 | 2,173,700 |
| Depreciation, amortization and accretion | 2,332,600 | 1,882,300 | 1,778,400 |
| Selling, general, administrative and development expense | 811,600 | 778,700 | 730,400 |
| Other operating expenses | 398,700 | 265,800 | 166,300 |
| Total operating expenses | 6,224,900 | 5,154,000 | 4,891,900 |
| OPERATING INCOME | 3,132,000 | 2,887,500 | 2,688,400 |
| OTHER INCOME (EXPENSE): | |||
| Interest income | 40,400 | 39,700 | 46,800 |
| Interest expense | (870,900) | (793,500) | (814,200) |
| Loss on retirement of long-term obligations | (38,200) | (71,800) | (22,200) |
| Other income (expense) (including foreign currency gains (losses) of $557.9, $(216.4), and $6.1 respectively) | 566,100 | (240,800) | 17,600 |
| Total other expense | (302,600) | (1,066,400) | (772,000) |
| INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES | 2,829,400 | 1,821,100 | 1,916,400 |
| Income tax (provision) benefit | (261,800) | (129,600) | 200 |
| NET INCOME | 2,567,600 | 1,691,500 | 1,916,600 |
| Net loss (income) attributable to noncontrolling interests | 100 | (900) | (28,800) |
| NET INCOME ATTRIBUTABLE TO AMERICAN TOWER CORPORATION COMMON STOCKHOLDERS | 2,567,700 | 1,690,600 | 1,887,800 |
| NET INCOME PER COMMON SHARE AMOUNTS: | |||
| Basic net income attributable to American Tower Corporation common stockholders (in dollars per share) | 5.69 | 3.81 | 4.27 |
| Diluted net income attributable to American Tower Corporation common stockholders (in dollars per share) | 5.66 | 3.79 | 4.24 |
| WEIGHTED AVERAGE COMMON SHARES OUTSTANDING (in thousands): | |||
| BASIC (in shares) | 451,498 | 443,640 | 442,319 |
| DILUTED (in shares) | 453,294 | 446,104 | 445,520 |
| Product and Service | |||
| Property | |||
| Total operating revenues | 9,109,600 | 7,953,600 | 7,464,900 |
| Services | |||
| Total operating revenues | 247,300 | 87,900 | 115,400 |
| Services | 96,700 | 37,600 | 43,100 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
AMERICAN TOWER CORP /MA/ | |||
Ticker: AMT Fiscal Year: 2021 | |||
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME | |||
Period Ending Dec 31, 2021 10-K (Filed: Feb 25, 2022) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
| Net income | $ 2,567,600 | 1,691,500 | 1,916,600 |
| Other comprehensive (loss) income: | |||
| Changes in fair value of cash flow hedges, each net of tax expense of $0 | 0 | (200) | (100) |
| Reclassification of unrealized losses on cash flow hedges to net income, each net of tax expense of $0 | 100 | 300 | 200 |
| Foreign currency translation adjustments, net of tax (benefit) expense of $(0.0), $0.0, and $0.5, respectively. | (1,150,200) | (701,500) | (157,900) |
| Other comprehensive loss | (1,150,100) | (701,400) | (157,800) |
| Comprehensive income | 1,417,500 | 990,100 | 1,758,800 |
| Comprehensive loss (income) attributable to noncontrolling interests | 169,600 | (26,100) | 3,800 |
| Allocation of accumulated other comprehensive income (loss) resulting from purchases of noncontrolling interest and redeemable noncontrolling interests | 1,100 | (209,200) | (55,500) |
| Comprehensive income attributable to American Tower Corporation stockholders | 1,588,200 | 754,800 | 1,707,100 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
AMERICAN TOWER CORP /MA/ | |||
Ticker: AMT Fiscal Year: 2021 | |||
CONSOLIDATED STATEMENTS OF CASH FLOWS | |||
Period Ending Dec 31, 2021 10-K (Filed: Feb 25, 2022) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
| CASH FLOWS FROM OPERATING ACTIVITIES | |||
| Net income | $ 2,567,600 | 1,691,500 | 1,916,600 |
| Adjustments to reconcile net income to cash provided by operating activities: | |||
| Depreciation, amortization and accretion | 2,332,600 | 1,882,300 | 1,778,400 |
| Stock-based compensation expense | 119,500 | 120,800 | 111,400 |
| Loss on investments, unrealized foreign currency loss and other non-cash expense | (535,200) | 299,600 | 46,200 |
| Impairments, net loss on sale of long-lived assets, non-cash restructuring and merger related expenses | 196,400 | 239,500 | 140,000 |
| Loss on early retirement of long-term obligations | 38,200 | 71,800 | 22,200 |
| Amortization of deferred financing costs, debt discounts and premiums and other non-cash interest | 39,900 | 32,900 | 25,900 |
| Deferred income taxes | (41,200) | (22,500) | (55,100) |
| Changes in assets and liabilities, net of acquisitions: | |||
| Accounts receivable | (191,700) | (175,500) | 12,500 |
| Prepaid and other assets | (33,200) | 84,400 | (67,600) |
| Deferred rent asset | (465,600) | (322,000) | (183,500) |
| Right-of-use asset and Operating lease liability, net | (32,700) | (10,900) | 17,400 |
| Accounts payable and accrued expenses | 33,200 | (69,200) | (46,800) |
| Accrued interest | 42,900 | (1,800) | 32,400 |
| Unearned revenue | 743,800 | 60,700 | 2,500 |
| Other non-current liabilities | 5,400 | (200) | 100 |
| Cash provided by operating activities | 4,819,900 | 3,881,400 | 3,752,600 |
| CASH FLOWS FROM INVESTING ACTIVITIES | |||
| Payments for purchase of property and equipment and construction activities | (1,376,700) | (1,031,700) | (991,300) |
| Payments for acquisitions, net of cash acquired | (19,303,900) | (3,799,100) | (2,959,600) |
| Proceeds from sales of short-term investments and other non-current assets | 14,300 | 19,600 | 383,500 |
| Payments for short-term investments | 0 | 0 | (355,900) |
| Payment for investments in equity securities | (25,000) | 0 | 0 |
| Deposits and other | (900) | 26,600 | (64,200) |
| Cash used for investing activities | (20,692,200) | (4,784,600) | (3,987,500) |
| CASH FLOWS FROM FINANCING ACTIVITIES | |||
| Borrowings under credit facilities | 12,856,900 | 8,230,400 | 5,750,000 |
| Proceeds from issuance of senior notes, net | 6,761,600 | 7,925,100 | 4,876,700 |
| Proceeds from term loans | 7,347,000 | 1,940,000 | 1,300,000 |
| Repayments of notes payable, credit facilities, term loans, senior notes, secured debt and finance leases | (13,178,100) | (13,875,400) | (9,225,300) |
| Contributions from noncontrolling interest holders | 3,078,200 | 0 | 0 |
| Distributions to noncontrolling interest holders | (223,200) | (12,300) | (11,800) |
| Purchases of common stock | 0 | (56,000) | (19,600) |
| Proceeds from stock options and employee stock purchase plan | 96,800 | 98,100 | 105,500 |
| Distributions paid on common stock | (2,271,000) | (1,928,200) | (1,603,000) |
| Proceeds from the issuance of common stock, net | 2,361,800 | 0 | 0 |
| Payment for early retirement of long-term obligations | (74,000) | (68,200) | (21,000) |
| Deferred financing costs and other financing activities | (155,800) | (176,500) | (135,600) |
| Purchases of redeemable noncontrolling interests | (175,700) | (861,700) | (425,700) |
| Purchase of noncontrolling interest | 0 | 0 | (68,500) |
| Cash provided by financing activities | 16,424,500 | 1,215,300 | 521,700 |
| Net effect of changes in foreign currency exchange rates on cash and cash equivalents, and restricted cash | (70,300) | (28,700) | (13,700) |
| NET INCREASE IN CASH AND CASH EQUIVALENTS, AND RESTRICTED CASH | 481,900 | 283,400 | 273,100 |
| CASH AND CASH EQUIVALENTS, AND RESTRICTED CASH, BEGINNING OF YEAR | 1,861,400 | 1,578,000 | |
| CASH AND CASH EQUIVALENTS, AND RESTRICTED CASH, END OF YEAR | 2,343,300 | 1,861,400 | 1,578,000 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
AMERICAN TOWER CORP /MA/ | ||
Ticker: AMT Fiscal Year: 2021 | ||
CONSOLIDATED BALANCE SHEETS | ||
Period Ending Dec 31, 2021 10-K (Filed: Feb 25, 2022) | ||
| (In Thousands, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2021 | Dec 31, 2020 | |
| ASSETS | ||
| CURRENT ASSETS: | ||
| Cash and cash equivalents | $ 1,949,900 | 1,746,300 |
| Restricted cash | 393,400 | 115,100 |
| Accounts receivable, net | 728,900 | 511,600 |
| Prepaid and other current assets | 657,200 | 532,600 |
| Total current assets | 3,729,400 | 2,905,600 |
| PROPERTY AND EQUIPMENT, net | 19,784,000 | 12,808,700 |
| GOODWILL | 13,350,100 | 7,282,700 |
| OTHER INTANGIBLE ASSETS, net | 20,727,200 | 13,839,800 |
| DEFERRED TAX ASSET | 131,600 | 123,100 |
| DEFERRED RENT ASSET | 2,539,600 | 2,084,300 |
| RIGHT-OF-USE ASSET | 9,225,100 | 7,789,200 |
| NOTES RECEIVABLE AND OTHER NON-CURRENT ASSETS | 400,900 | 400,100 |
| TOTAL | 69,887,900 | 47,233,500 |
| LIABILITIES | ||
| CURRENT LIABILITIES: | ||
| Accounts payable | 272,400 | 139,100 |
| Accrued expenses | 1,412,800 | 1,043,700 |
| Distributions payable | 642,100 | 544,600 |
| Accrued interest | 254,700 | 207,800 |
| Current portion of operating lease liability | 712,600 | 539,900 |
| Current portion of long-term obligations | 4,568,700 | 789,800 |
| Unearned revenue | 1,204,000 | 390,600 |
| Total current liabilities | 9,067,300 | 3,655,500 |
| LONG-TERM OBLIGATIONS | 38,685,500 | 28,497,700 |
| OPERATING LEASE LIABILITY | 8,041,800 | 6,884,400 |
| ASSET RETIREMENT OBLIGATIONS | 2,003,000 | 1,571,300 |
| DEFERRED TAX LIABILITY | 1,830,900 | 859,500 |
| OTHER NON-CURRENT LIABILITIES | 1,189,800 | 984,600 |
| Total liabilities | 60,818,300 | 42,453,000 |
| COMMITMENTS AND CONTINGENCIES | ||
| REDEEMABLE NONCONTROLLING INTERESTS | 0 | 212,100 |
| EQUITY (shares in thousands): | ||
| Common stock: $0.01 par value; 1,000,000 shares authorized; 466,687 and 455,245 shares issued; and 455,772 and 444,330 shares outstanding, respectively | 4,700 | 4,600 |
| Additional paid-in capital | 12,240,200 | 10,473,700 |
| Distributions in excess of earnings | (1,142,400) | (1,343,000) |
| Accumulated other comprehensive loss | (4,738,900) | (3,759,400) |
| Treasury stock (10,915 shares at cost) | (1,282,400) | (1,282,400) |
| Total American Tower Corporation equity | 5,081,200 | 4,093,500 |
| Noncontrolling interests | 3,988,400 | 474,900 |
| Total equity | 9,069,600 | 4,568,400 |
| TOTAL | 69,887,900 | 47,233,500 |
| External Links | |
| AMERICAN TOWER CORP /MA/ (AMT) Fiscal Year 2021 | |
| 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 |