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Consolidated Statement of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Cash flows from operating activities:      
Income (Loss) from Continuing Operations $ 671 $ 445 $ 357
Adjustments to reconcile net income (loss) to net cash provided by (used for) operating activities:      
Depreciation, amortization and accretion 1,528 1,242 1,109
(Gains) losses on retirement of long-term obligations 106 [1] 4 [2] 52 [3]
Gains (Losses) on Settled Swaps 0 0 3
Amortization of deferred financing costs and other non-cash interest 7 9 14
Stock-based compensation expense 103 92 79
Asset write-down charges 26 17 34
Deferred income tax (benefit) provision 2 15 9
Other non-cash adjustments, net 2 (2) 10
Changes in assets and liabilities, excluding the effects of acquisitions:      
Increase (decrease) in accrued interest 16 35 30
Increase (decrease) in accounts payable 37 (34) 11
Increase (decrease) in deferred revenues, deferred ground lease payables, other accrued liabilities and other liabilities 223 175 196
Decrease (increase) in receivables (105) 61 (59)
Decrease (increase) in prepaid expenses, deferred site rental receivables, long-term prepaid rent and other assets (114) (16) (58)
Net cash provided by (used for) operating activities 2,502 2,043 1,787
Cash flows from investing activities:      
Payments for acquisitions, net of cash acquired (42) (9,260) (557)
Capital expenditures (1,741) (1,228) (874)
Net (payments) receipts from settled swaps 0 0 8 [4]
Other investing activities, net (12) (5) (6)
Net cash provided by (used for) investing activities (1,795) (10,493) (1,429)
Cash flows from financing activities:      
Proceeds from issuance of long-term debt 2,742 3,093 5,201
Principal payments on debt and other long-term obligations (105) (119) (96)
Purchases and redemptions of long-term debt (2,346) 0 (4,045)
Borrowings under revolving credit facility 1,820 2,820 3,440
Payments under revolving credit facility (1,725) (1,840) (4,565)
Payments for financing costs (31) (29) (42)
Net proceeds from issuance of common stock 841 4,221 1,326
Net proceeds from issuance of preferred stock 0 1,608 0
Purchases of common stock (34) (23) (25)
Dividends/distributions paid on common stock (1,782) (1,509) (1,239)
Dividends paid on preferred stock (113) (30) (44)
Net cash provided by (used for) financing activities (733) 8,192 (89)
Net increase (decrease) in cash, cash equivalents, and restricted cash from continuing operations (26) (258) 269
Net cash provided by (used for) investing activities 0 0 113
Net increase (decrease) in cash and cash equivalents - discontinued operations 0 0 113
Effect of exchange rate changes on cash (1) 1 0
Cash, cash equivalents, and restricted cash at beginning of period [5] 440 697 315
Cash, cash equivalents, and restricted cash at end of period [5] $ 413 $ 440 $ 697
[1] Inclusive of the write off of the respective deferred financing costs.
[2] The losses related to write off of deferred financing costs
[3] Inclusive of the write off of the respective deferred financing costs.
[4] In January 2016, the Company received a note receivable payment and settled a corresponding foreign currency swap related to its 2015 sale of CCAL.
[5] See "Recently Adopted Accounting Pronouncements" in note 2 to the financial statements for a discussion of recently adopted restricted cash guidance, which impacted certain presentations on the consolidated statement of cash flows.