Acquisitions (Tables)

12 Months Ended

Dec. 31, 2022



	For the year ended December 31,
	2022		2021		2020
Tower acquisitions (number of towers)		4,790		991		233

Schedule of Acquisition Capital Expenditures



	For the year ended December 31,
	2022		2021		2020

		(in thousands)
Acquisitions of towers and related intangible assets^(1)(2)(3)	$	489,888	$	274,752	$	181,473
Acquisition of right-of-use assets ⁽²⁾⁽⁴⁾		602,574		950,536		—
Land buyouts and other assets ⁽⁵⁾⁽⁶⁾		83,630		32,416		89,945
Total cash acquisition capital expenditures	$	1,176,092	$	1,257,704	$	271,418

(1)During the year ended December 31, 2022, the Company closed on 1,445 sites from Airtel Tanzania for $176.1 million. Legal title has been fully transferred for 1,295 of the towers. The remaining 150 towers are pending post-closing due diligence and continue to be accounted for as acquired and other right-of-use assets, net on the consolidated balance sheet until transfer of title for these towers is completed, which the Company anticipates to be in tranches through the end of the second quarter of 2023. Upon legal transfer, these assets will be reclassified to tower related assets. During this period of time, the Company has all the economic rights and obligations related to these towers.

(2)During the year ended December 31, 2022, the Company acquired 2,632 sites from GTS in Brazil for $728.2 million, net of working capital adjustments, of which $168.5 million is included in acquisitions of towers and related intangible assets and $559.8 million is included in acquisition of right of use assets.

(3)The year ended December 31, 2021 includes $77.1 million of acquisitions completed during the fourth quarter of 2020 which were not funded until the first quarter of 2021.

(4)During the year ended December 31, 2021, the Company acquired the exclusive right to lease and operate utility transmission structures, which included existing wireless tenant licenses from PG&E for $950.5 million, net of working capital adjustments.

(5)Excludes $17.9 million, $16.3 million, and $12.3 million spent to extend ground lease terms for the years ended December 31, 2022, 2021, and 2020, respectively.

(6)The years ended December 31, 2022 and 2020 include amounts paid related to the acquisitions of data centers.