XML 19 R4.htm IDEA: XBRL DOCUMENT v3.5.0.2
Condensed Consolidated Statement of Operations and Comprehensive Income (Loss) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Net revenues:        
Site rental $ 804,600 $ 737,091 $ 1,603,893 $ 1,468,471
Network services and other 157,809 162,346 292,899 331,437
Net revenues 962,409 899,437 1,896,792 1,799,908
Operating expenses:        
Site rental [1] 252,852 237,031 505,472 469,244
Network services and other [1] 95,867 89,400 176,838 176,318
General and administrative 91,386 73,125 188,967 147,181
Asset write-down charges 11,952 3,620 19,912 12,175
Acquisition and integration costs 3,141 2,377 8,779 4,393
Depreciation, amortization and accretion 276,026 253,153 553,901 504,959
Total operating expenses 731,224 658,706 1,453,869 1,314,270
Operating income (loss) 231,185 240,731 442,923 485,638
Nonoperating Income (Expense) [Abstract]        
Interest expense and amortization of deferred financing costs (129,362) (134,466) (255,740) (268,905)
Gains (losses) on retirement of long-term obligations (11,468) (4,181) (42,017) [2] (4,157)
Interest income 105 325 279 381
Other income (expense) (518) 59,973 (3,791) 59,724
Income (loss) before income taxes 89,942 162,382 141,654 272,681
Benefit (provision) for income taxes (3,884) 4,144 (7,756) 5,579
Income (Loss) from Continuing Operations Attributable to Parent 86,058 166,526 133,898 278,260
Income (loss) from discontinued operations, net of tax 0 6,312 [3],[4],[5] 0 19,690 [3],[4],[5]
Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax 0 981,540 0 981,540
Income (Loss) from Discontinued Operations, Net of Tax and Gain (Loss) on Disposal   987,852 0 1,001,230
Net income (loss) 86,058 1,154,378 133,898 1,279,490
Less: Net income (loss) attributable to the noncontrolling interest 0 1,018 0 3,343
Net income (loss) attributable to CCIC stockholders 86,058 1,153,360 133,898 1,276,147
Dividends on preferred stock (10,997) (10,997) (21,994) (21,994)
Net income (loss) attributable to CCIC common stockholders 75,061 1,142,363 111,904 1,254,153
Other Comprehensive Income (Loss), Net of Tax [Abstract]        
Amounts reclassified into interest expense and amortization deferred financing costs, net of taxes 0 7,490 0 14,981
Foreign currency translation adjustments 971 3,401 392 (12,861)
Amounts reclassified into discontinued operations for foreign currency translation adjustments 0 (25,678) 0 (25,678)
Total other comprehensive income (loss) 971 (14,787) 392 (23,558)
Comprehensive income (loss) 87,029 1,139,591 134,290 1,255,932
Less: Comprehensive income (loss) attributable to the noncontrolling interest 0 1,401 0 2,471
Comprehensive income (loss) attributable to CCIC stockholders $ 87,029 $ 1,138,190 $ 134,290 $ 1,253,461
Net income (loss) attributable to CCIC common stockholders, per common share:        
Basic $ 0.22 $ 3.43 $ 0.33 $ 3.77
Diluted $ 0.22 $ 3.42 $ 0.33 $ 3.76
Weighted-average common shares outstanding (in thousands):        
Basic 337,560 333,091 335,857 332,902
Diluted 338,609 333,733 336,658 333,665
Continuing Operations [Member]        
Nonoperating Income (Expense) [Abstract]        
Net income (loss) attributable to CCIC common stockholders $ 75,061 $ 155,529 $ 111,904 $ 256,266
Net income (loss) attributable to CCIC common stockholders, per common share:        
Basic $ 0.22 $ 0.47 $ 0.33 $ 0.77
Diluted $ 0.22 $ 0.47 $ 0.33 $ 0.77
Discontinued Operations [Member]        
Nonoperating Income (Expense) [Abstract]        
Net income (loss) attributable to CCIC common stockholders $ 0 $ 986,834 $ 0 $ 997,887
Net income (loss) attributable to CCIC common stockholders, per common share:        
Basic $ 0.00 $ 2.96 $ 0.00 $ 3.00
Diluted $ 0.00 $ 2.95 $ 0.00 $ 2.99
[1] Exclusive of depreciation, amortization and accretion shown separately.
[2] Inclusive of $32.0 million related to the write off of deferred financing costs.
[3] CCAL results are through May 28, 2015, which was the closing date of the Company's sale of CCAL.
[4] Exclusive of the gain (loss) from disposal of discontinued operations, net of tax, as presented on the condensed consolidated financial statement of operations.
[5] No interest expense has been allocated to discontinued operations.