Operating Segments Operating Segments (Tables)

3 Months Ended

6 Months Ended

Jun. 30, 2022

Schedule of Segment Reporting Information, by Segment


	Three Months Ended June 30, 2022								Three Months Ended June 30, 2021
	Towers		Fiber		Other		Consolidated Total		Towers		Fiber		Other		Consolidated Total
Segment site rental revenues	$	1,078	$	489			$	1,567	$	952	$	473			$	1,425
Segment services and other revenues	164		3				167		154		4				158
Segment revenues	1,242		492				1,734		1,106		477				1,583
Segment site rental costs of operations	232		162				394		221		161				382
Segment services and other costs of operations	107		2				109		100		3				103
Segment costs of operations(a)(b)	339		164				503		321		164				485
Segment site rental gross margin	846		327				1,173		731		312				1,043
Segment services and other gross margin	57		1				58		54		1				55
Segment selling, general and administrative expenses(b)	28		46				74		26		44				70
Segment operating profit (loss)	875		282				1,157		759		269				1,028
Other selling, general and administrative expenses					$	79	79						$	70	70
Stock-based compensation expense					44		44						34		34
Depreciation, amortization and accretion					427		427						408		408
Interest expense and amortization of deferred financing costs					165		165						161		161
Other (income) expenses to reconcile to income (loss) before income taxes(c)					16		16						16		16
Income (loss) before income taxes							$	426							$	339
Capital expenditures	$	45	$	247	$	11	$	303	$	63	$	235	$	10	$	308
Total assets (at period end)	$	22,286	$	15,859	$	868	$	39,013	$	22,207	$	15,771	$	995	$	38,973

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

(b)Segment costs of operations excludes (1) stock-based compensation of $7 million and $5 million for the three months ended June 30, 2022 and 2021, respectively and (2) prepaid lease purchase price adjustments of $4 million for each of the three months ended June 30, 2022 and 2021. Selling, general and administrative expenses exclude stock-based compensation expense of $37 million and $29 million for the three months ended June 30, 2022 and 2021, respectively.

(c)See condensed consolidated statement of operations for further information.


	Six Months Ended June 30, 2022								Six Months Ended June 30, 2021
	Towers		Fiber		Other		Consolidated Total		Towers		Fiber		Other		Consolidated Total
Segment site rental revenues	$	2,153	$	990			$	3,143	$	1,847	$	947			$	2,794
Segment services and other revenues	327		6				333		265		9				274
Segment revenues	2,480		996				3,476		2,112		956				3,068
Segment site rental costs of operations	458		323				781		433		322				755
Segment services and other costs of operations	216		4				220		175		6				181
Segment costs of operations(a)(b)	674		327				1,001		608		328				936
Segment site rental gross margin	1,695		667				2,362		1,414		625				2,039
Segment services and other gross margin	111		2				113		90		3				93
Segment selling, general and administrative expenses(b)	56		93				149		51		89				140
Segment operating profit (loss)	1,750		576				2,326		1,453		539				1,992
Other selling, general and administrative expenses					$	153	153						$	136	136
Stock-based compensation expense					83		83						68		68
Depreciation, amortization and accretion					847		847						816		816
Interest expense and amortization of deferred financing costs					329		329						330		330
Other (income) expenses to reconcile to income (loss) before income taxes(c)					61		61						174		174
Income (loss) before income taxes							$	853							$	468
Capital expenditures	$	92	$	469	$	23	$	584	$	114	$	472	$	23	$	609

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

(b)Segment costs of operations excludes (1) stock-based compensation expense of $14 million and $11 million for the six months ended June 30, 2022 and 2021, respectively, and (2) prepaid lease purchase price adjustments of $8 million and $9 million for the six months ended June 30, 2022 and 2021, respectively. Selling, general and administrative expenses exclude stock-based compensation expense of $69 million and $57 million for the six months ended June 30, 2022 and 2021, respectively.

(c)See condensed consolidated statement of operations for further information.