XML 14 R4.htm IDEA: XBRL DOCUMENT v3.23.1
Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Revenues:    
Site leasing $ 617,268 $ 559,432
Site development 58,248 60,338
Total revenues 675,516 619,770
Cost of revenues (exclusive of depreciation, accretion, and amortization shown below):    
Cost of site leasing 120,119 107,155
Cost of site development 44,185 45,773
Selling, general, and administrative expenses [1] 72,209 62,124
Acquisition and new business initiatives related adjustments and expenses 6,057 5,104
Asset impairment and decommission costs 26,390 8,512
Depreciation, accretion, and amortization 182,415 174,323
Total operating expenses 451,375 402,991
Operating income 224,141 216,779
Other income (expense):    
Interest income 2,816 2,502
Interest expense (101,226) (82,252)
Non-cash interest expense (14,239) (11,526)
Amortization of deferred financing fees (4,988) (4,881)
Other income, net 37,558 108,161
Total other (expense) income, net (80,079) 12,004
Income before income taxes 144,062 228,783
Provision for income taxes (43,508) (40,477)
Net income 100,554 188,306
Net loss attributable to noncontrolling interests 663 317
Net income attributable to SBA Communications Corporation $ 101,217 $ 188,623
Net income per common share attributable to SBA Communications Corporation:    
Basic $ 0.94 $ 1.75
Diluted $ 0.93 $ 1.72
Weighted average number of common shares    
Basic 108,132 108,086
Diluted 109,271 109,544
[1] Includes non-cash compensation of $25,529 and $24,116 for the three months ended March 31, 2023 and 2022, respectively.