5.ACQUISITIONS

The following table summarizes the Company’s cash acquisition capital expenditures:



	For the three months
	ended March 31,
	2018		2017

	(in thousands)
Acquisitions of towers and related intangible assets	$	108,355	$	31,147
Land buyouts and other assets (1)		9,267		11,504
Total cash acquisition capital expenditures	$	117,622	$	42,651

(1)

In addition, the Company paid $6.6 million and $2.7 million for ground lease extensions and term easements on land underlying the Company’s towers during the three months ended March 31, 2018 and 2017, respectively. The Company recorded these amounts in prepaid rent on its Consolidated Balance Sheets.

For acquisitions which qualify as asset acquisitions, the aggregate purchase price is allocated on a relative fair value basis to towers and related intangible assets. The fair values of these net assets acquired are based on management’s estimates and assumptions, as well as other information compiled by management, including valuations that utilize customary valuation procedures and techniques. The fair value estimates are based on available historical information and on future expectations and assumptions deemed reasonable by management at the time. If the actual results differ from the estimates and judgments used in these fair values, the amounts recorded in the consolidated financial statements could be subject to a possible impairment of the intangible assets, or require acceleration of the amortization expense of intangible assets in subsequent periods.

For business combinations, the estimates of the fair value of the assets acquired and liabilities assumed at the date of an acquisition are subject to adjustment during the measurement period (up to one year from the particular acquisition date). During the measurement period, the Company will adjust assets and/or liabilities if new information is obtained about facts and circumstances that existed as of the acquisition date that, if known, would have resulted in a revised estimated value of those assets and/or liabilities as of that date. As of March 31, 2018, there were no purchase price allocations that were preliminary.

During the three months ended March 31, 2018, the Company acquired 334 completed towers and related assets and liabilities consisting of $23.2 million of property and equipment, $101.3 million of intangible assets, and $16.2 million of working capital adjustments. All acquisitions in the quarter ended March 31, 2018 were accounted for as asset acquisitions.

Subsequent to March 31, 2018, the Company acquired 190 towers and related assets for $119.5 million in cash.