Debt and Other Obligations (Tables)

12 Months Ended

Dec. 31, 2011

Debt and Other Obligations [Abstract]

Schedule of Long-Term Debt Instruments

The following is a summary of the Company's indebtedness.

	Original Issue Date	Contractual Maturity Date		Outstanding Balance as of December 31, 2011			Outstanding Balance as of December 31, 2010		Stated Interest Rate as of December 31, 2011(a)
Bank debt – variable rate:
Revolver	Jan. 2007	Sept. 2013	(b)	$	251,000	(b)	$	157,000	2.4	%	(c)
2007 Term Loans	Jan./March 2007	March 2014	(b)	619,125			625,625		1.7	%	(c)
Total bank debt				870,125			782,625
Securitized debt – fixed rate:
January 2010 Tower Revenue Notes	Jan. 2010	2035 - 2040	(d)	1,900,000			1,900,000		5.8	%	(d)
August 2010 Tower Revenue Notes	Aug. 2010	2035 - 2040	(d)	1,550,000			1,550,000		4.5	%	(d)
2009 Securitized Notes	July 2009	2019/2029	(e)	216,431			233,085		7.0	%
Total securitized debt				3,666,431			3,683,085
High yield bonds – fixed rate:
9% Senior Notes	Jan. 2009	Jan. 2015		817,799			804,971		9.0	%	(f)
7.75% Secured Notes	April 2009	May 2017		978,983			975,913		7.8	%	(g)
7.125% Senior Notes	Oct. 2009	Nov. 2019		497,904			497,712		7.1	%	(h)
7.5% Senior Notes	Dec. 2003	Dec. 2013		51			51		7.5	%
Total high yield bonds				2,294,737			2,278,647
Other:
Capital leases and other obligations	Various	Various	(i)	54,406			34,537		Various		(i)
Total debt and other obligations				6,885,699			6,778,894
Less: current maturities and short-term debt and other current obligations				32,517			28,687
Non-current portion of long-term debt and other long-term obligations				$	6,853,182		$	6,750,207

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(a) Represents the weighted-average stated interest rate.

(b) As of December 31, 2011, the undrawn availability under the senior secured revolving credit facility ("Revolver") is $199.0 million. See note 20 for information regarding the $3.1 billion senior credit facility issued in January 2012 ("January 2012 refinancing").

(c) The Revolver bears interest at a rate per annum, at the election of Crown Castle Operating Company ("CCOC"), equal to (i) the greater of the prime rate of The Royal Bank of Scotland plc and the Federal Funds Effective Rate plus 0.5%, plus a credit spread ranging from 1.0% to 1.4% or (ii) LIBOR plus a credit spread ranging from 2.0% to 2.4%, in each case based on the Company’s consolidated leverage ratio. The 2007 term loans ("2007 Term Loans") bear interest at a rate per annum, at CCOC's election, equal to (i) the greater of the prime rate of The Royal Bank of Scotland plc and the Federal Funds Effective Rate plus 0.5%, or (ii) LIBOR plus 1.5%. See note 20.

(d) If the respective series of the January 2010 Tower Revenue Notes and August 2010 Tower Revenue Notes (collectively, "2010 Tower Revenue Notes") are not paid in full on or prior to 2015, 2017 and 2020, as applicable, then Excess Cash Flow (as defined in the indenture) of the issuers (of such notes) will be used to repay principal of the applicable series and class of the 2010 Tower Revenue Notes, and additional interest (of an additional approximately 5% per annum) will accrue on the respective 2010 Tower Revenue Notes. The January 2010 Tower Revenue Notes consist of three series of notes with principal amounts of $300.0 million, $350.0 million and $1.3 billion, having anticipated repayment dates in 2015, 2017 and 2020, respectively. The August 2010 Tower Revenue Notes consist of three series of notes with principal amounts of $250.0 million, $300.0 million and $1.0 billion, having anticipated repayment dates in 2015, 2017 and 2020, respectively.

(e) The 2009 Securitized Notes consist of $146.4 million of principal as of December 31, 2011 that amortizes through 2019, and $70.0 million of principal as of December 31, 2011 that amortizes during the period beginning in 2019 and ending in 2029.

(f) The effective yield is approximately 11.3%, inclusive of the discount.

(g) The effective yield is approximately 8.2%, inclusive of the discount.

(h) The effective yield is approximately 7.2%, inclusive of the discount.

(i) The Company's capital leases and other obligations bear interest rates ranging up to 10% and mature in periods ranging from less than one year to approximately 20 years.

Schedule of Maturities of Long-term Debt

The following are the scheduled contractual maturities of the total debt and other long-term obligations outstanding at December 31, 2011, exclusive of the 6.25% Redeemable Convertible Preferred Stock. These maturities reflect contractual maturity dates and do not consider the principal payments that will commence following the anticipated repayment dates on the Tower Revenue Notes. If the Tower Revenue Notes are not paid in full on or prior to 2015, 2017 and 2020, as applicable, then the Excess Cash Flow (as defined in the indenture) of the issuers of such notes will be used to repay principal of the applicable series and class of the Tower Revenue Notes, and additional interest (of an additional approximately 5% per annum) will accrue on the Tower Revenue Notes. See note 20. 

	Years Ending December 31,
	2012		2013		2014		2015		2016		Thereafter		Total Cash Obligations		Unamortized Discounts			Total Debt and Other Obligations Outstanding
Scheduled contractual maturities	$	32,684	$	283,434	$	631,662	$	892,276	$	23,711	$	5,094,539	$	6,958,306	$	(72,607	)	$	6,885,699

Schedule of Extinguishment of Debt

The following is a summary of the partial purchases and repayments of debt during the years ended December 31, 2010 and December 31, 2009.

	Year Ending December 31, 2010
	Principal Amount		Cash Paid(a)		Gains (losses)
2005 Tower Revenue Notes	$	1,638,616	$	1,651,255	$	(15,718	)
2006 Tower Revenue Notes	1,550,000		1,629,920		(87,755		)
2009 Securitized Notes(b)	5,000		5,250		(393		)
9% Senior Notes	33,115		36,116		(6,425		)
7.75% Secured Notes(b)	199,593		218,771		(28,076		)
Total	$	3,426,324	$	3,541,312	$	(138,367	)	(c)

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(a) Exclusive of accrued interest.

(b) These debt purchases were made by CCIC, rather than by the subsidiaries issuing the debt, because of restrictions upon the subsidiaries issuing the debt; as a result, the debt remains outstanding at the Company's subsidiaries.

(c) Inclusive of $23.4 million related to the write-off of deferred financing costs and discounts.

	Year Ending December 31, 2009
	Principal Amount		Cash Paid(a)		Gains (losses)
2004 Mortgage Loan(b)	$	293,505	$	293,716	$	(2,128	)
2006 Mortgage Loan(b)	1,550,000		1,634,184		(85,659		)
2005 Tower Revenue Notes	261,384		263,819		(3,292		)
Revolver	219,400		219,400		—
Total	$	2,324,289	$	2,411,119	$	(91,079	)	(c)

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(a) Exclusive of accrued interest.

(b) Includes purchases and repayments.

(c) Inclusive of $4.2 million related to the write-off of deferred financing costs and other non-cash adjustments.