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Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Revenues:        
Site leasing $ 486,765 $ 468,572 $ 1,461,523 $ 1,379,758
Site development 36,175 38,975 85,708 121,229
Total revenues 522,940 507,547 1,547,231 1,500,987
Cost of revenues (exclusive of depreciation, accretion, and amortization shown below):        
Cost of site leasing 92,722 92,993 280,120 279,167
Cost of site development 28,797 30,516 68,417 92,606
Selling, general, and administrative expenses [1] 48,152 42,272 146,856 148,755
Acquisition and new business initiatives related adjustments and expenses 4,124 4,692 12,557 9,669
Asset impairment and decommission costs 8,506 8,240 29,103 23,631
Depreciation, accretion, and amortization 180,302 174,987 541,587 517,590
Total operating expenses 362,603 353,700 1,078,640 1,071,418
Operating income 160,337 153,847 468,591 429,569
Other income (expense):        
Interest income 756 1,311 2,340 4,692
Interest expense (89,791) (96,567) (281,329) (292,681)
Non-cash interest expense (8,323) (662) (13,066) (1,954)
Amortization of deferred financing fees (4,883) (5,157) (15,211) (15,333)
Loss from extinguishment of debt, net (2,599) (457) (19,463) (457)
Other expense, net (42,262) (33,551) (300,144) (21,296)
Total other expense, net (147,102) (135,083) (626,873) (327,029)
Income (loss) before income taxes 13,235 18,764 (158,282) 102,540
Benefit (provision) for income taxes 9,441 3,002 76,143 (22,813)
Net income (loss) 22,676 21,766 (82,139) 79,727
Net (income) loss attributable to noncontrolling interests (108) (87) 461 (87)
Net income (loss) attributable to SBA Communications Corporation $ 22,568 $ 21,679 $ (81,678) $ 79,640
Net income (loss) per common share attributable to SBA Communications Corporation:        
Basic $ 0.20 $ 0.19 $ (0.73) $ 0.70
Diluted $ 0.20 $ 0.19 $ (0.73) $ 0.69
Weighted average number of common shares        
Basic 111,783 113,037 111,809 112,985
Diluted 113,703 115,184 111,809 114,824
[1] Includes non-cash compensation of $16,606 and $12,281 for the three months ended September 30, 2020 and 2019, respectively, and $50,291 and $59,017 for the nine months ended September 30, 2020 and 2019, respectively.