Operating Segments (Tables)

6 Months Ended

Jun. 30, 2012



	Three Months Ended June 30, 2012												Three Months Ended June 30, 2011
	CCUSA			CCAL			Eliminations			Consolidated Total			CCUSA			CCAL			Eliminations			Consolidated Total
Net revenues:
Site rental	$	487,761		$	29,827		$	—		$	517,588		$	429,454		$	27,649		$	—		$	457,103
Network services and other	62,049			5,874			—			67,923			40,017			3,216			—			43,233
Net revenues	549,810			35,701			—			585,511			469,471			30,865			—			500,336
Operating expenses:
Costs of operations:(a)
Site rental	123,063			8,508			—			131,571			112,153			8,990			—			121,143
Network services and other	36,846			3,416			—			40,262			23,576			2,330			—			25,906
General and administrative	41,541			5,537			—			47,078			36,702			4,557			—			41,259
Asset write-down charges	3,646			—			—			3,646			5,930			275			—			6,205
Acquisition and integration costs	7,469			26			—			7,495			490			—			—			490
Depreciation, amortization and accretion	144,793			7,689			—			152,482			130,488			7,703			—			138,191
Total operating expenses	357,358			25,176			—			382,534			309,339			23,855			—			333,194
Operating income (loss)	192,452			10,525			—			202,977			160,132			7,010			—			167,142
Interest expense and amortization of deferred financing costs	(144,940		)	(5,000		)	5,000			(144,940		)	(126,484		)	(5,816		)	5,817			(126,483		)
Gains (losses) on retirement of long-term obligations	(7,518		)	—			—			(7,518		)	—			—			—			—
Interest income	258			124			—			382			70			138			—			208
Other income (expense)	2,756			(5		)	(5,000		)	(2,249		)	1,717			2			(5,817		)	(4,098		)
Benefit (provision) for income taxes	68,921			(489		)	—			68,432			(5,184		)	(571		)	—			(5,755		)
Net income (loss)	111,929			5,155			—			117,084			30,251			763			—			31,014
Less: Net income (loss) attributable to the noncontrolling interest	(58		)	1,129			—			1,071			—			143			—			143
Net income (loss) attributable to CCIC stockholders	$	111,987		$	4,026		$	—		$	116,013		$	30,251		$	620		$	—		$	30,871
Capital expenditures	$	88,687		$	5,958					$	94,645		$	61,080		$	2,960		$	—		$	64,040
Total assets (at quarter end)	$	12,532,201		$	358,733		$	(293,258	)	$	12,597,676

________________


(a)	Exclusive of depreciation, amortization and accretion shown separately.



	Six Months Ended June 30, 2012												Six Months Ended June 30, 2011
	CCUSA			CCAL			Eliminations			Consolidated Total			CCUSA			CCAL			Eliminations			Consolidated Total
Net revenues:
Site rental	$	955,880		$	59,237		$	—		$	1,015,117		$	860,097		$	53,202		$	—		$	913,299
Network services and other	109,017			13,122			—			122,139			77,681			8,395			—			86,076
Net revenues	1,064,897			72,359			—			1,137,256			937,778			61,597			—			999,375
Operating expenses:
Costs of operations:(a)
Site rental	237,007			17,435			—			254,442			222,578			16,980			—			239,558
Network services and other	63,648			8,135			—			71,783			47,533			5,597			—			53,130
General and administrative	85,194			12,885			—			98,079			76,299			9,704			—			86,003
Asset write-down charges	6,679			11			—			6,690			10,287			319			—			10,606
Acquisition and integration costs	9,121			54			—			9,175			1,044			—			—			1,044
Depreciation, amortization and accretion	276,434			15,448			—			291,882			260,464			15,000			—			275,464
Total operating expenses	678,083			53,968			—			732,051			618,205			47,600			—			665,805
Operating income (loss)	386,814			18,391			—			405,205			319,573			13,997			—			333,570
Interest expense and amortization of deferred financing costs	(282,399		)	(10,337		)	10,324			(282,412		)	(252,845		)	(11,758		)	11,434			(253,169		)
Gains (losses) on retirement of long-term obligations	(14,586		)	—			—			(14,586		)	—			—			—			—
Interest income	455			281			—			736			140			239			—			379
Other income (expense)	7,043			(45		)	(10,324		)	(3,326		)	6,730			—			(11,434		)	(4,704		)
Benefit (provision) for income taxes	62,747			(1,010		)	—			61,737			(3,815		)	(1,123		)	—			(4,938		)
Net income (loss)	160,074			7,280			—			167,354			69,783			1,355			—			71,138
Less: Net income (loss) attributable to the noncontrolling interest	(268		)	1,578			—			1,310			—			250			—			250
Net income (loss) attributable to CCIC stockholders	$	160,342		$	5,702		$	—		$	166,044		$	69,783		$	1,105		$	—		$	70,888
Capital expenditures	$	150,901		$	8,796		$	—		$	159,697		$	112,326		$	4,364		$	—		$	116,690
Total assets (at quarter end)	$	12,532,201		$	358,733		$	(293,258	)	$	12,597,676

Reconciliation of Net Income (Loss) to Adjusted EBITDA

The following are reconciliations of net income (loss) to Adjusted EBITDA for the three and six months ended June 30, 2012 and 2011.



	Three Months Ended June 30, 2012												Three Months Ended June 30, 2011
	CCUSA			CCAL			Eliminations			Consolidated Total			CCUSA			CCAL			Eliminations			Consolidated Total
Net income (loss)	$	111,929		$	5,155		$	—		$	117,084		$	30,251		$	763		$	—		$	31,014
Adjustments to increase (decrease) net income (loss):
Asset write-down charges	3,646			—			—			3,646			5,930			275			—			6,205
Acquisition and integration costs	7,469			26			—			7,495			490			—			—			490
Depreciation, amortization and accretion	144,793			7,689			—			152,482			130,488			7,703			—			138,191
Amortization of prepaid lease purchase price adjustments	3,893			—			—			3,893			—			—			—			—
Interest expense and amortization of deferred financing costs	144,940			5,000			(5,000		)	144,940			126,484			5,816			(5,817		)	126,483
Gains (losses) on retirement of long-term obligations	7,518			—			—			7,518			—			—			—			—
Interest income	(258		)	(124		)	—			(382		)	(70		)	(138		)	—			(208		)
Other income (expense)	(2,756		)	5			5,000			2,249			(1,717		)	(2		)	5,817			4,098
Benefit (provision) for income taxes	(68,921		)	489			—			(68,432		)	5,184			571			—			5,755
Stock-based compensation expense	8,070			(46		)				8,024			7,758			109			—			7,867
Adjusted EBITDA	$	360,323		$	18,194		$	—		$	378,517		$	304,798		$	15,097		$	—		$	319,895



	Six Months Ended June 30, 2012												Six Months Ended June 30, 2011
	CCUSA			CCAL			Eliminations			Consolidated Total			CCUSA			CCAL			Eliminations			Consolidated Total
Net income (loss)	$	160,074		$	7,280		$	—		$	167,354		$	69,783		$	1,355		$	—		$	71,138
Adjustments to increase (decrease) net income (loss):
Asset write-down charges	6,679			11			—			6,690			10,287			319			—			10,606
Acquisition and integration costs	9,121			54			—			9,175			1,044			—			—			1,044
Depreciation, amortization and accretion	276,434			15,448			—			291,882			260,464			15,000			—			275,464
Amortization of prepaid lease purchase price adjustments	6,443			—			—			6,443			—			—			—			—
Interest expense and amortization of deferred financing costs	282,399			10,337			(10,324		)	282,412			252,845			11,758			(11,434		)	253,169
Gains (losses) on retirement of long-term obligations	14,586			—			—			14,586			—			—			—			—
Interest income	(455		)	(281		)	—			(736		)	(140		)	(239		)	—			(379		)
Other income (expense)	(7,043		)	45			10,324			3,326			(6,730		)	—			11,434			4,704
Benefit (provision) for income taxes	(62,747		)	1,010			—			(61,737		)	3,815			1,123			—			4,938
Stock-based compensation expense	17,105			2,077			—			19,182			17,254			1,278			—			18,532
Adjusted EBITDA	$	702,596		$	35,981		$	—		$	738,577		$	608,622		$	30,594		$	—		$	639,216

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

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