Acquisitions Acquisitions (Tables)

12 Months Ended

Dec. 31, 2013

Schedule Purchase Price Allocation [Table Text Block]

The final purchase price allocation for the NextG Acquisition is shown below.



Current assets	$	70,981
Property and equipment	515,590
Goodwill	570,874
Other intangible assets, net	408,000
Other assets	4,250
Current liabilities	(104,986		)
Deferred credits and other liabilities	(322,175		)	^(a)
Deferred income tax liabilities	(144,817		)
Net assets acquired	$	997,717		^(b)


(a)	Inclusive of below-market tenant leases.


(b)	Changes to the purchase price allocation presented in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2012 resulted in a decrease of $2.7 million to goodwill. The effect of the change in the purchase price allocation on the Company's statement of operations is immaterial to the periods presented.

T-Mobile Acquisition

In September 2012, the Company entered into a definitive agreement with T-Mobile to acquire the exclusive rights to lease, operate, or otherwise acquire towers which, as of December 31, 2013, comprised approximately 17% of the Company's towers for approximately $2.5 billion ("T-Mobile Acquisition"). On November 30, 2012, the Company closed on the T-Mobile Acquisition. Upon closing, the Company obtained the exclusive right to lease and operate the T-Mobile towers (that are otherwise not owned by the Company). See note 1 for a further discussion of the terms of the T-Mobile lease, including the purchase option. The Company utilized cash on hand, inclusive of the proceeds from the 5.25% Senior Notes, and borrowings from the 2012 Revolver (as defined in note 7) to fund the T-Mobile Acquisition. The Company recognized acquisition and integration costs of approximately $9.2 million and $3.6 million for the years ending December 31, 2013 and 2012, respectively.

During the fourth quarter of 2013, the Company finalized the purchase price allocation for the T-Mobile Acquisition. The final purchase price allocation for the T-Mobile Acquisition is shown below.



Current assets	$	17,512
Property and equipment	1,496,281
Goodwill	425,946
Other intangible assets, net	414,661
Deferred income tax assets	205,648
Other assets	1,178
Current liabilities	(1,207		)
Deferred credits and other liabilities	(74,233		)	^(a)
Net assets acquired	$	2,485,786		^(b)

(a)Inclusive of above-market leases for land interests under the Company's towers.

(b)

Changes to the preliminary purchase price allocation presented in the consolidated balance sheet in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2012 primarily include an increase of $36.9 million to property and equipment and a $42.9 million increase to deferred credits and other non-current liabilities. The effect of the change in the purchase price allocation on the Company's statement of operations is immaterial to the periods presented.

AT&T Acquisition

During October 2013, the Company entered into a definitive agreement with AT&T, to acquire rights to towers which, as of December 31, 2013, comprised approximately 24% of the Company's towers for $4.827 billion in cash at closing ("AT&T Acquisition"). On December 16, 2013, the Company closed on the acquisition. See note 1 for further discussion of the terms of the AT&T master prepaid lease, including the related purchase option. The Company utilized net proceeds from the October Equity Financings (as defined in note 12), and additional borrowings under the 2012 Revolver and term loans to fund the AT&T Acquisition, as well as cash on hand. For the year ended December 31, 2013, the Company recognized acquisition and integration costs related to the AT&T Acquisition of $12.2 million.

The preliminary purchase price allocation related to the AT&T Acquisition is not finalized as of December 31, 2013, and is based upon preliminary valuation which is subject to change as the Company obtains additional information, including with respect to fixed assets, intangible assets and certain liabilities. The preliminary purchase price allocation for the AT&T Acquisition is shown below.



Current assets	$	20,428
Property and equipment	1,965,375
Goodwill	1,768,535
Other intangible assets, net	1,280,071
Other assets	3,253
Current liabilities	(12,929		)
Deferred credits and other liabilities	(198,134		)	^(a)
Net assets acquired	$	4,826,599		^(b)

(a)Inclusive of above-market leases for land interests under the Company's towers.

(b)No deferred taxes were recorded as a result of the Company's REIT election. See notes 10 and 20.

For additional discussion of the WCP Acquisition, NextG Acquisition and T-Mobile Acquisition (collectively, "2012 Acquisitions") and the AT&T Acquisition see notes 5, 6, 7, 10, and 12.

Business Acquisition, Pro Forma Information [Table Text Block]

The following table presents the unaudited proforma consolidated results of operations of the Company as if the AT&T Acquisition was completed as of January 1, 2012, and the 2012 Acquisitions were completed as of January 1, 2011 for the periods presented below. The unaudited pro forma amounts are presented for illustrative purposes only and are not necessarily indicative of future consolidated results of operations.



	Twelve Months Ended December 31,
	2013				2012
Net revenues	$	3,420,658		^(a)	$	3,124,010	^(a)(b)
Income (loss) before income taxes	$	241,511		^(f)	$	15,566	^(f)
Benefit (provision) for income taxes	$	(178,221	)	^(d)(e)	$	134,487	^(d)(e)
Net income (loss)	$	63,290		^(c)(d)(f)	$	150,053	^(c)(d)(f)
Basic net income (loss) attributable to CCIC common stockholders, per common share	$	0.05		^(d)	$	0.28	^(d)
Diluted net income (loss) attributable to CCIC common stockholders, per common share	$	0.05		^(d)	$	0.27	^(d)


(a)	For the years ended December 31, 2013 and 2012, amounts are inclusive of pro forma adjustments to increase net revenues of $211.1 million and $220.6 million, respectively, that the Company expects to recognize from AT&T under AT&T's contracted lease of space on the towers acquired in the AT&T Acquisition.


(b)	For the year ended December 31, 2012, amounts are inclusive of pro forma adjustments to increase net revenues of $148.9 million that the Company expects to recognize from T-Mobile under T-Mobile's contracted lease of space on the towers acquired in the T-Mobile Acquisition.


(c)	For the years ended December 31, 2013 and 2012, amounts are inclusive of pro forma adjustments to depreciation and amortization of $218.3 million and $353.2 million, respectively, related to property and equipment and intangibles recorded as a result of the AT&T Acquisition and 2012 Acquisitions.

(d)

For the AT&T Acquisition, pro forma amounts include the impact of the interest expense associated with the related debt financings as well as the October Equity Financings. For the 2012 Acquisitions, pro forma amounts exclude any impact from debt financings that occurred throughout 2012 due to (1) such financings having been conducted for multiple purposes, including to lower the Company's average cost of debt, to refinance and extend certain of its debt, as well as to provide funds to finance a portion of such acquisitions and (2) such financings having not been conducted concurrently with the 2012 Acquisitions they subsequently funded in part and the fungible nature of the cash makes impracticable a determination of whether, or what portion of, the purchase prices of such acquisitions were funded with the proceeds of such financings.


(e)	For the years ended December 31, 2013 and 2012, the pro forma adjustments reflects the federal statutory rate and an estimated state rate. No adjustment was made related to the Company's REIT election. See notes 10 and 20.


(f)	Inclusive of $23.7 million and $15.5 million, respectively, of aggregate acquisition and integration costs for the years ended December 31, 2013, and 2012 related to the AT&T Acquisition and 2012 Acquisitions.