Acquisitions (Tables)

6 Months Ended

Jun. 30, 2014

Schedule Purchase Price Allocation [Table Text Block]

The preliminary purchase price allocation related to the AT&T Acquisition is not finalized as of June 30, 2014 and is based upon preliminary valuation which is subject to change as the Company obtains additional information, including information regarding fixed assets, intangible assets and certain liabilities. The preliminary purchase price allocation for the AT&T Acquisition, as of June 30, 2014, is shown below.



Current assets	$	20,428
Property and equipment	1,918,534			^(a)
Goodwill	1,768,535
Other intangible assets, net	1,280,071
Long-term prepaid rent, deferred financing costs and other assets, net	50,094			^(a)
Current liabilities	(12,929		)
Deferred credits and other liabilities	(198,134		)	^(b)
Net assets acquired	$	4,826,599		^(c)

(a)

The principal changes in the preliminary purchase price allocation for the AT&T Acquisition between December 31, 2013 and June 30, 2014 relate to (1) a $46.8 million increase to long-term prepaid rent, deferred financing costs and other assets, net and (2) a corresponding $46.8 million decrease to property and equipment, net. The effect of the change in the preliminary price allocation on the Company's statement of operations and comprehensive income (loss) is immaterial to the periods presented.


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


(c)	No deferred taxes were recorded as a result of the Company's REIT election. See note 5.

Business Acquisition, Pro Forma Information [Table Text Block]

Unaudited Pro Forma Operating Results

The unaudited pro forma condensed consolidated results of operations combine the historical results of the Company, along with the historical results of the AT&T Acquisition for the period presented below. The following table presents the unaudited pro forma condensed consolidated results of operations of the Company for the period presented as if the AT&T Acquisition was completed as of January 1, 2012. The unaudited pro forma amounts are presented for illustrative purposes only and are not necessarily indicative of future consolidated results of operations.



	Six Months Ended June 30, 2013
Net revenues	$	1,682,955	^(a)
Net income (loss)	$	56,687	^(b)(c)
Basic net income (loss) attributable to CCIC common stockholders	$	0.10	^(d)
Diluted net income (loss) attributable to CCIC common stockholders	$	0.10	^(d)


(a)	Amounts are inclusive of pro forma adjustments to increase net revenues of $110.3 million 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)	Amounts are inclusive of pro forma adjustments to increase depreciation and amortization of $110.4 million related to property and equipment and intangibles recorded as a result of the AT&T Acquisition.


(c)	The pro forma adjustments reflect the federal statutory rate and an estimated state rate. No adjustment was made with respect to the Company's REIT election. See note 5.


(d)	Pro forma amounts include the impact of the interest expense associated with the related debt financing as well as the impact of the common stock and preferred stock offerings completed in October 2013.