The Company's reportable operating segments are (1) CCUSA, primarily consisting of the Company's U.S. operations and (2) CCAL, the Company's Australian operations. Financial results for the Company are reported to management and the board of directors in this manner.

The measurement of profit or loss currently used by management to evaluate the results of operations for the Company and its operating segments is earnings before interest, taxes, depreciation, amortization and accretion, as adjusted ("Adjusted EBITDA"). The Company defines Adjusted EBITDA as net income (loss) plus restructuring charges (credits), asset write-down charges, acquisition and integration costs, depreciation, amortization and accretion, amortization of prepaid lease purchase price adjustments, interest expense and amortization of deferred financing costs, gains (losses) on retirement of long-term obligations, net gain (loss) on interest rate swaps, impairment of available-for-sale securities, interest income, other income (expense), benefit (provision) for income taxes, cumulative effect of change in accounting principle, income (loss) from discontinued operations and stock-based compensation expense. Adjusted EBITDA is not intended as an alternative measure of operating results or cash flow from operations (as determined in accordance with GAAP), and the Company's measure of Adjusted EBITDA may not be comparable to similarly titled measures of other companies. There are no significant revenues resulting from transactions between the Company's operating segments. Inter-company borrowings and related interest between segments are eliminated to reconcile segment results and assets to the consolidated basis.



	Three Months Ended June 30, 2014												Three Months Ended June 30, 2013
	CCUSA			CCAL			Eliminations			Consolidated Total			CCUSA			CCAL			Eliminations			Consolidated Total
Net revenues:
Site rental	$	710,783		$	35,557		$	—		$	746,340		$	583,584		$	33,265		$	—		$	616,849
Network services and other	167,459			2,546			—			170,005			113,057			5,022			—			118,079
Net revenues	878,242			38,103			—			916,345			696,641			38,287			—			734,928
Operating expenses:
Costs of operations^(a):
Site rental	227,032			9,959			—			236,991			169,234			9,781			—			179,015
Network services and other	101,901			1,546			—			103,447			66,035			4,164			—			70,199
General and administrative	63,318			5,835			—			69,153			49,225			5,565			—			54,790
Asset write-down charges	3,105			31			—			3,136			3,008			89			—			3,097
Acquisition and integration costs	19,125			72			—			19,197			7,030			185			—			7,215
Depreciation, amortization and accretion	246,583			7,652			—			254,235			183,304			7,347			—			190,651
Total operating expenses	661,064			25,095			—			686,159			477,836			27,131			—			504,967
Operating income (loss)	217,178			13,008			—			230,186			218,805			11,156			—			229,961
Interest expense and amortization of deferred financing costs	(144,534		)	(3,930		)	3,930			(144,534		)	(140,256		)	(4,316		)	4,316			(140,256		)
Gains (losses) on retirement of long-term obligations	(44,629		)	—			—			(44,629		)	(577		)	—			—			(577		)
Interest income	108			81			—			189			246			82			—			328
Other income (expense)	(1,990		)	(143		)	(3,930		)	(6,063		)	4,808			15			(4,316		)	507
Benefit (provision) for income taxes	3,101			(2,893		)	—			208			(34,304		)	(2,283		)	—			(36,587		)
Net income (loss)	29,234			6,123			—			35,357			48,722			4,654			—			53,376
Less: net income (loss) attributable to the noncontrolling interest	—			1,348			—			1,348			—			1,017			—			1,017
Net income (loss) attributable to CCIC stockholders	$	29,234		$	4,775		$	—		$	34,009		$	48,722		$	3,637		$	—		$	52,359
Capital expenditures	$	160,460		$	6,337		$	—		$	166,797		$	134,513		$	3,954		$	—		$	138,467

________________


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



	Six Months Ended June 30, 2014												Six Months Ended June 30, 2013
	CCUSA			CCAL			Eliminations			Consolidated Total			CCUSA			CCAL			Eliminations			Consolidated Total
Net revenues:
Site rental	$	1,425,575		$	67,927		$	—		$	1,493,502		$	1,164,851		$	67,413		$	—		$	1,232,264
Network services and other	294,430			4,363			—			298,793			230,918			11,806			—			242,724
Net revenues	1,720,005			72,290			—			1,792,295			1,395,769			79,219			—			1,474,988
Operating expenses:
Costs of operations^(a):
Site rental	445,676			19,391			—			465,067			336,826			19,795			—			356,621
Network services and other	173,701			2,620			—			176,321			137,884			9,692			—			147,576
General and administrative	121,959			12,043			—			134,002			101,786			11,249			—			113,035
Asset write-down charges	5,741			128			—			5,869			6,611			201			—			6,812
Acquisition and integration costs	24,784			72			—			24,856			8,631			186			—			8,817
Depreciation, amortization and accretion	491,759			12,667			—			504,426			362,430			14,680			—			377,110
Total operating expenses	1,263,620			46,921			—			1,310,541			954,168			55,803			—			1,009,971
Operating income (loss)	456,385			25,369			—			481,754			441,601			23,416			—			465,017
Interest expense and amortization of deferred financing costs	(290,934		)	(7,613		)	7,613			(290,934		)	(304,625		)	(8,762		)	8,762			(304,625		)
Gains (losses) on retirement of long-term obligations	(44,629		)	—			—			(44,629		)	(36,486		)	—			—			(36,486		)
Interest income	222			140			—			362			449			176			—			625
Other income (expense)	(1,043		)	(143		)	(7,613		)	(8,799		)	8,628			12			(8,762		)	(122		)
Benefit (provision) for income taxes	6,141			(5,745		)	—			396			(49,917		)	(4,378		)	—			(54,295		)
Net income (loss)	126,142			12,008			—			138,150			59,650			10,464			—			70,114
Less: net income (loss) attributable to the noncontrolling interest	—			2,644			—			2,644			—			2,293			—			2,293
Net income (loss) attributable to CCIC stockholders	$	126,142		$	9,364		$	—		$	135,506		$	59,650		$	8,171		$	—		$	67,821
Capital expenditures	$	299,298		$	10,442		$	—		$	309,740		$	247,713		$	7,107		$	—		$	254,820

________________


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

The following is a reconciliation of net income (loss) to Adjusted EBITDA for the three and six months ended June 30, 2014 and 2013.



	Three Months Ended June 30, 2014												Three Months Ended June 30, 2013
	CCUSA			CCAL			Eliminations			Consolidated Total			CCUSA			CCAL			Eliminations			Consolidated Total
Net income (loss)	$	29,234		$	6,123		$	—		$	35,357		$	48,722		$	4,654		$	—		$	53,376
Adjustments to increase (decrease) net income (loss):
Asset write-down charges	3,105			31			—			3,136			3,008			89			—			3,097
Acquisition and integration costs	19,125			72			—			19,197			7,030			185			—			7,215
Depreciation, amortization and accretion	246,583			7,652			—			254,235			183,304			7,347			—			190,651
Amortization of prepaid lease purchase price adjustments	5,663			—			—			5,663			3,863			—			—			3,863
Interest expense and amortization of deferred financing costs	144,534			3,930			(3,930		)	144,534			140,256			4,316			(4,316		)	140,256
Gains (losses) on retirement of long-term obligations	44,629			—			—			44,629			577			—			—			577
Interest income	(108		)	(81		)	—			(189		)	(246		)	(82		)	—			(328		)
Other income (expense)	1,990			143			3,930			6,063			(4,808		)	(15		)	4,316			(507		)
Benefit (provision) for income taxes	(3,101		)	2,893			—			(208		)	34,304			2,283			—			36,587
Stock-based compensation expense	17,883			329			—			18,212			9,442			166			—			9,608
Adjusted EBITDA^(a)	$	509,537		$	21,092		$	—		$	530,629		$	425,452		$	18,943		$	—		$	444,395

________________


(a)	The above reconciliation excludes line items included in the Company's Adjusted EBITDA definition for which there is no activity for the periods shown.



	Six Months Ended June 30, 2014												Six Months Ended June 30, 2013
	CCUSA			CCAL			Eliminations			Consolidated Total			CCUSA			CCAL			Eliminations			Consolidated Total
Net income (loss)	$	126,142		$	12,008		$	—		$	138,150		$	59,650		$	10,464		$	—		$	70,114
Adjustments to increase (decrease) net income (loss):
Asset write-down charges	5,741			128			—			5,869			6,611			201			—			6,812
Acquisition and integration costs	24,784			72			—			24,856			8,631			186			—			8,817
Depreciation, amortization and accretion	491,759			12,667			—			504,426			362,430			14,680			—			377,110
Amortization of prepaid lease purchase price adjustments	9,558			—			—			9,558			7,726			—			—			7,726
Interest expense and amortization of deferred financing costs	290,934			7,613			(7,613		)	290,934			304,625			8,762			(8,762		)	304,625
Gains (losses) on retirement of long-term obligations	44,629			—			—			44,629			36,486			—			—			36,486
Interest income	(222		)	(140		)	—			(362		)	(449		)	(176		)	—			(625		)
Other income (expense)	1,043			143			7,613			8,799			(8,628		)	(12		)	8,762			122
Benefit (provision) for income taxes	(6,141		)	5,745			—			(396		)	49,917			4,378			—			54,295
Stock-based compensation expense	29,840			1,309			—			31,149			19,472			235			—			19,707
Adjusted EBITDA^(a)	$	1,018,067		$	39,545		$	—		$	1,057,612		$	846,471		$	38,718		$	—		$	885,189

________________


(a)	The above reconciliation excludes line items included in the Company's Adjusted EBITDA definition for which there is no activity for the periods shown.