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: 2022 | |||
CONSOLIDATED STATEMENTS OF OPERATIONS | |||
Period Ending Dec 31, 2022 10-K (Filed: Feb 23, 2023) | |||
| (In Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
| REVENUES: | |||
| Total operating revenues | $ 10,711,100 | 9,356,900 | 8,041,500 |
| OPERATING EXPENSES: | |||
| Costs of operations (exclusive of items shown separately below): | |||
| Property | 3,156,400 | 2,585,300 | 2,189,600 |
| Depreciation, amortization and accretion | 3,355,100 | 2,332,600 | 1,882,300 |
| Selling, general, administrative and development expense | 972,300 | 811,600 | 778,700 |
| Other operating expenses | 767,600 | 398,700 | 265,800 |
| Total operating expenses | 8,358,800 | 6,224,900 | 5,154,000 |
| OPERATING INCOME | 2,352,300 | 3,132,000 | 2,887,500 |
| OTHER INCOME (EXPENSE): | |||
| Interest income | 71,600 | 40,400 | 39,700 |
| Interest expense | (1,136,500) | (870,900) | (793,500) |
| Loss on retirement of long-term obligations | (400) | (38,200) | (71,800) |
| Other income (expense) (including foreign currency gains (losses) of $449.4, $557.9, and $(216.4) respectively) | 433,700 | 566,100 | (240,800) |
| Total other expense | (631,600) | (302,600) | (1,066,400) |
| INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES | 1,720,700 | 2,829,400 | 1,821,100 |
| Income tax provision | (24,000) | (261,800) | (129,600) |
| NET INCOME | 1,696,700 | 2,567,600 | 1,691,500 |
| Net loss (income) attributable to noncontrolling interests | 69,100 | 100 | (900) |
| NET INCOME ATTRIBUTABLE TO AMERICAN TOWER CORPORATION COMMON STOCKHOLDERS | 1,765,800 | 2,567,700 | 1,690,600 |
| NET INCOME PER COMMON SHARE AMOUNTS: | |||
| Basic net income attributable to American Tower Corporation common stockholders (in dollars per share) | 3.83 | 5.69 | 3.81 |
| Diluted net income attributable to American Tower Corporation common stockholders (in dollars per share) | 3.82 | 5.66 | 3.79 |
| WEIGHTED AVERAGE COMMON SHARES OUTSTANDING (in thousands): | |||
| BASIC (in shares) | 461,519 | 451,498 | 443,640 |
| DILUTED (in shares) | 462,750 | 453,294 | 446,104 |
| Product and Service | |||
| Property | |||
| Total operating revenues | 10,470,000 | 9,109,600 | 7,953,600 |
| Services | |||
| Total operating revenues | 241,100 | 247,300 | 87,900 |
| Services | 107,400 | 96,700 | 37,600 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
AMERICAN TOWER CORP /MA/ | |||
Ticker: AMT Fiscal Year: 2022 | |||
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME | |||
Period Ending Dec 31, 2022 10-K (Filed: Feb 23, 2023) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
| Net income | $ 1,696,700 | 2,567,600 | 1,691,500 |
| Other comprehensive (loss) income: | |||
| Changes in fair value of cash flow hedges, each net of tax expense of $0 | 0 | 0 | (200) |
| Reclassification of unrealized losses on cash flow hedges to net income, each net of tax expense of $0 | 0 | 100 | 300 |
| Foreign currency translation adjustments, net of tax (benefit) expense of $(0.8), $(0.0), and $0.0, respectively. | (1,165,000) | (1,150,200) | (701,500) |
| Other comprehensive loss | (1,165,000) | (1,150,100) | (701,400) |
| Comprehensive income | 531,700 | 1,417,500 | 990,100 |
| Comprehensive loss (income) attributable to noncontrolling interests | 254,700 | 169,600 | (26,100) |
| Allocation of accumulated other comprehensive income (loss) resulting from purchases of noncontrolling interest and redeemable noncontrolling interests | 0 | 1,100 | (209,200) |
| Comprehensive income attributable to American Tower Corporation stockholders | 786,400 | 1,588,200 | 754,800 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
AMERICAN TOWER CORP /MA/ | |||
Ticker: AMT Fiscal Year: 2022 | |||
CONSOLIDATED STATEMENTS OF CASH FLOWS | |||
Period Ending Dec 31, 2022 10-K (Filed: Feb 23, 2023) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
| CASH FLOWS FROM OPERATING ACTIVITIES | |||
| Net income | $ 1,696,700 | 2,567,600 | 1,691,500 |
| Adjustments to reconcile net income to cash provided by operating activities: | |||
| Depreciation, amortization and accretion | 3,355,100 | 2,332,600 | 1,882,300 |
| Stock-based compensation expense | 169,300 | 119,500 | 120,800 |
| Loss on investments, unrealized foreign currency (gain) loss and other non-cash expense | (401,200) | (535,200) | 299,600 |
| Impairments, net loss on sale of long-lived assets, non-cash restructuring and merger related expenses | 684,300 | 196,400 | 239,500 |
| Loss on early retirement of long-term obligations | 400 | 38,200 | 71,800 |
| Amortization of deferred financing costs, debt discounts and premiums and other non-cash interest | 47,500 | 39,900 | 32,900 |
| Deferred income taxes | (236,700) | (41,200) | (22,500) |
| Changes in assets and liabilities, net of acquisitions: | |||
| Accounts receivable | (78,600) | (191,700) | (175,500) |
| Prepaid and other assets | (196,100) | (33,200) | 84,400 |
| Deferred rent asset | (499,800) | (465,600) | (322,000) |
| Right-of-use asset and Operating lease liability, net | (9,300) | (32,700) | (10,900) |
| Accounts payable and accrued expenses | (48,200) | 33,200 | (69,200) |
| Accrued interest | 6,600 | 42,900 | (1,800) |
| Unearned revenue | (818,900) | 743,800 | 60,700 |
| Other non-current liabilities | 25,100 | 5,400 | (200) |
| Cash provided by operating activities | 3,696,200 | 4,819,900 | 3,881,400 |
| CASH FLOWS FROM INVESTING ACTIVITIES | |||
| Payments for purchase of property and equipment and construction activities | (1,873,600) | (1,376,700) | (1,031,700) |
| Payments for acquisitions, net of cash acquired | (549,000) | (19,303,900) | (3,799,100) |
| Proceeds from sales of short-term investments and other non-current assets | 19,600 | 14,300 | 19,600 |
| Payment for investments in equity securities | 0 | (25,000) | 0 |
| Deposits and other | 47,800 | (900) | 26,600 |
| Cash used for investing activities | (2,355,200) | (20,692,200) | (4,784,600) |
| CASH FLOWS FROM FINANCING ACTIVITIES | |||
| Proceeds from short-term borrowings, net | 28,800 | 0 | 0 |
| Borrowings under credit facilities | 4,190,000 | 12,856,900 | 8,230,400 |
| Proceeds from issuance of senior notes, net | 1,293,600 | 6,761,600 | 7,925,100 |
| Proceeds from term loans | 0 | 7,347,000 | 1,940,000 |
| Repayments of notes payable, credit facilities, senior notes, secured debt, short-term borrowings, term loans and finance leases | (9,625,500) | (13,178,100) | (13,875,400) |
| Contributions from noncontrolling interest holders | 3,120,800 | 3,078,200 | 0 |
| Distributions to noncontrolling interest holders | (10,900) | (223,200) | (12,300) |
| Purchases of common stock | (18,800) | 0 | (56,000) |
| Proceeds from stock options and employee stock purchase plan | 32,400 | 96,800 | 98,100 |
| Distributions paid on common stock | (2,630,400) | (2,271,000) | (1,928,200) |
| Proceeds from the issuance of common stock, net | 2,291,700 | 2,361,800 | 0 |
| Payment for early retirement of long-term obligations | 0 | (74,000) | (68,200) |
| Deferred financing costs and other financing activities | (94,900) | (155,800) | (176,500) |
| Purchases of redeemable noncontrolling interests | 0 | (175,700) | (861,700) |
| Cash (used for) provided by financing activities | (1,423,200) | 16,424,500 | 1,215,300 |
| Net effect of changes in foreign currency exchange rates on cash and cash equivalents, and restricted cash | (120,400) | (70,300) | (28,700) |
| NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS, AND RESTRICTED CASH | (202,600) | 481,900 | 283,400 |
| CASH AND CASH EQUIVALENTS, AND RESTRICTED CASH, BEGINNING OF YEAR | 2,343,300 | 1,861,400 | |
| CASH AND CASH EQUIVALENTS, AND RESTRICTED CASH, END OF YEAR | 2,140,700 | 2,343,300 | 1,861,400 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
AMERICAN TOWER CORP /MA/ | ||
Ticker: AMT Fiscal Year: 2022 | ||
CONSOLIDATED BALANCE SHEETS | ||
Period Ending Dec 31, 2022 10-K (Filed: Feb 23, 2023) | ||
| (In Thousands, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2022 | Dec 31, 2021 | |
| ASSETS | ||
| CURRENT ASSETS: | ||
| Cash and cash equivalents | $ 2,028,400 | 1,949,900 |
| Restricted cash | 112,300 | 393,400 |
| Accounts receivable, net | 758,300 | 728,900 |
| Prepaid and other current assets | 723,300 | 657,200 |
| Total current assets | 3,622,300 | 3,729,400 |
| PROPERTY AND EQUIPMENT, net | 19,998,300 | 19,784,000 |
| GOODWILL | 12,956,700 | 13,350,100 |
| OTHER INTANGIBLE ASSETS, net | 17,983,300 | 20,727,200 |
| DEFERRED TAX ASSET | 129,200 | 131,600 |
| DEFERRED RENT ASSET | 3,039,100 | 2,539,600 |
| RIGHT-OF-USE ASSET | 8,918,900 | 9,225,100 |
| NOTES RECEIVABLE AND OTHER NON-CURRENT ASSETS | 546,700 | 400,900 |
| TOTAL | 67,194,500 | 69,887,900 |
| LIABILITIES | ||
| CURRENT LIABILITIES: | ||
| Accounts payable | 218,600 | 272,400 |
| Accrued expenses | 1,344,200 | 1,412,800 |
| Distributions payable | 745,300 | 642,100 |
| Accrued interest | 261,000 | 254,700 |
| Current portion of operating lease liability | 788,900 | 712,600 |
| Current portion of long-term obligations | 4,514,200 | 4,568,700 |
| Unearned revenue | 439,700 | 1,204,000 |
| Total current liabilities | 8,311,900 | 9,067,300 |
| LONG-TERM OBLIGATIONS | 34,156,000 | 38,685,500 |
| OPERATING LEASE LIABILITY | 7,591,900 | 8,041,800 |
| ASSET RETIREMENT OBLIGATIONS | 2,047,400 | 2,003,000 |
| DEFERRED TAX LIABILITY | 1,492,000 | 1,830,900 |
| OTHER NON-CURRENT LIABILITIES | 1,186,800 | 1,189,800 |
| Total liabilities | 54,786,000 | 60,818,300 |
| COMMITMENTS AND CONTINGENCIES | ||
| EQUITY (shares in thousands): | ||
| Common stock: $0.01 par value; 1,000,000 shares authorized; 476,623 and 466,687 shares issued; and 465,619 and 455,772 shares outstanding, respectively | 4,800 | 4,700 |
| Additional paid-in capital | 14,689,000 | 12,240,200 |
| Distributions in excess of earnings | (2,101,900) | (1,142,400) |
| Accumulated other comprehensive loss | (5,718,300) | (4,738,900) |
| Treasury stock (11,004 and 10,915 shares at cost, respectively) | (1,301,200) | (1,282,400) |
| Total American Tower Corporation equity | 5,572,400 | 5,081,200 |
| Noncontrolling interests | 6,836,100 | 3,988,400 |
| Total equity | 12,408,500 | 9,069,600 |
| TOTAL | 67,194,500 | 69,887,900 |
| External Links | |
| AMERICAN TOWER CORP /MA/ (AMT) Fiscal Year 2022 | |
| 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 |