14.SEGMENT DATA

The Company operates principally in two business segments: site leasing and site development. The Company’s site leasing business includes two reportable segments, domestic site leasing and international site leasing. The Company’s reportable segments are strategic business units that offer different services. They are managed separately based on the fundamental differences in their operations. The site leasing segment includes results of the managed and sublease businesses. The site development segment includes the results of both consulting and construction related activities. The Company’s Chief Operating Decision Maker utilizes segment operating profit and operating income as his two measures of segment profit in assessing performance and allocating resources at the reportable segment level.

Revenues, cost of revenues (exclusive of depreciation, accretion and amortization), capital expenditures (including assets acquired through the issuance of shares of the Company’s Class A common stock) and identifiable assets pertaining to the segments in which the Company continues to operate are presented below.



	Domestic Site		Int'l Site		Site		Not Identified
	Leasing		Leasing		Development		by Segment (1)		Total

For the three months ended March 31, 2016	(in thousands)
Revenues	$	315,230	$	59,220	$	25,319	$	—	$	399,769
Cost of revenues (2)		64,475		18,287		19,833		—		102,595
Operating profit		250,755		40,933		5,486		—		297,174
Selling, general, and administrative		17,998		4,385		3,537		4,486		30,406
Acquisition related adjustments and expenses		1,842		1,340		—		—		3,182
Asset impairment and decommission costs		6,021		162		—		—		6,183
Depreciation, amortization and accretion		131,393		26,877		1,025		506		159,801
Operating income (loss)		93,501		8,169		924		(4,992)		97,602
Other expense (principally interest expense
and other expense)								(41,758)		(41,758)
Income before provision for income taxes										55,844
Cash capital expenditures (3)		105,353		21,380		556		876		128,165

For the three months ended March 31, 2015
Revenues	$	305,950	$	63,777	$	40,367	$	—	$	410,094
Cost of revenues (2)		61,686		18,531		30,893		—		111,110
Operating profit		244,264		45,246		9,474		—		298,984
Selling, general, and administrative		17,655		3,893		2,122		6,214		29,884
Acquisition related adjustments and expenses		476		863		—		—		1,339
Asset impairment and decommission costs		6,594		228		—		—		6,822
Depreciation, amortization and accretion		137,460		32,426		707		1,260		171,853
Operating income (loss)		82,079		7,836		6,645		(7,474)		89,086
Other expense (principally interest expense
and other expense)								(165,153)		(165,153)
Loss before provision for income taxes										(76,067)
Cash capital expenditures (3)		91,402		21,775		1,831		7,835		122,843



	Domestic Site		Int'l Site		Site		Not Identified
	Leasing		Leasing		Development		by Segment (1)		Total

	(in thousands)
Assets
As of March 31, 2016	$	5,555,952	$	1,689,109	$	40,565	$	86,018	$	7,371,644
As of December 31, 2015	$	5,587,476	$	1,564,496	$	56,631	$	104,377	$	7,312,980

(1)

Assets not identified by segment consist primarily of general corporate assets.

(2)

Excludes depreciation, amortization, and accretion.

(3)

Includes cash paid for capital expenditures and acquisitions and vehicle capital lease additions.