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 business 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		Total

For the three months ended September 30, 2016	(in thousands)
Revenues	$	319,109	$	69,059	$	23,151	$	—	$	411,319
Cost of revenues (2)		65,353		21,001		19,114		—		105,468
Operating profit		253,756		48,058		4,037		—		305,851
Selling, general, and administrative		19,206		5,277		3,128		4,644		32,255
Acquisition related adjustments and expenses		335		2,635		—		—		2,970
Asset impairment and decommission costs		1,974		331		—		—		2,305
Depreciation, amortization and accretion		126,059		31,453		997		1,602		160,111
Operating income (loss)		106,182		8,362		(88)		(6,246)		108,210
Other expense (principally interest expense
and other income (expense))								(122,006)		(122,006)
Loss before provision for income taxes										(13,796)
Cash capital expenditures (3)		52,589		23,057		320		704		76,670

For the three months ended September 30, 2015
Revenues	$	313,131	$	58,862	$	38,742	$	—	$	410,735
Cost of revenues (2)		63,587		17,759		30,387		—		111,733
Operating profit		249,544		41,103		8,355		—		299,002
Selling, general, and administrative		16,601		4,200		2,739		4,332		27,872
Acquisition related adjustments and expenses		253		111		—		—		364
Asset impairment and decommission costs		63,225		128		—		—		63,353
Depreciation, amortization and accretion		134,734		28,166		780		650		164,330
Operating income (loss)		34,731		8,498		4,836		(4,982)		43,083
Other expense (principally interest expense
and other income (expense))								(197,103)		(197,103)
Loss before provision for income taxes										(154,020)
Cash capital expenditures (3)		92,034		35,353		698		2,115		130,200



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

For the nine months ended September 30, 2016	(in thousands)
Revenues	$	951,181	$	193,280	$	72,159	$	—	$	1,216,620
Cost of revenues (2)		196,027		59,582		59,021		—		314,630
Operating profit		755,154		133,698		13,138		—		901,990
Selling, general, and administrative (4)		55,141		30,727		9,960		14,498		110,326
Acquisition related adjustments and expenses		3,533		5,441		—		—		8,974
Asset impairment and decommission costs		19,359		1,476		—		2,345		23,180
Depreciation, amortization and accretion		384,208		88,111		2,661		4,655		479,635
Operating income (loss)		292,913		7,943		517		(21,498)		279,875
Other expense (principally interest expense
and other income (expense))								(203,119)		(203,119)
Income before provision for income taxes										76,756
Cash capital expenditures (3)		232,558		60,125		1,792		2,633		297,108

For the nine months ended September 30, 2015
Revenues	$	926,442	$	185,740	$	119,351	$	—	$	1,231,533
Cost of revenues (2)		188,841		54,457		91,662		—		334,960
Operating profit		737,601		131,283		27,689		—		896,573
Selling, general, and administrative		51,069		12,157		7,475		15,316		86,017
Acquisition related adjustments and expenses		7,295		188		—		—		7,483
Asset impairment and decommission costs		73,781		404		—		—		74,185
Depreciation, amortization and accretion		401,873		91,636		2,246		2,805		498,560
Operating income (loss)		203,583		26,898		17,968		(18,121)		230,328
Other expense (principally interest expense
and other income (expense))								(429,889)		(429,889)
Loss before provision for income taxes										(199,561)
Cash capital expenditures (3)		479,129		78,427		3,429		12,664		573,649



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

	(in thousands)
Assets
As of September 30, 2016	$	5,430,526	$	1,808,082	$	40,012	$	637,102	$	7,915,722
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.

(4)

International site leasing includes the impact of the $16,498 Oi reserve for the nine months ended September 30, 2016.