Operating Segments Operating Segments (Tables)

3 Months Ended

Mar. 31, 2023

Schedule of Segment Reporting Information, by Segment


	Three Months Ended March 31, 2023								Three Months Ended March 31, 2022
	Towers		Fiber		Other		Consolidated Total		Towers		Fiber		Other		Consolidated Total
Segment site rental revenues	$	1,081	$	543			$	1,624	$	1,075	$	501			$	1,576
Segment services and other revenues	146		3				149		163		3				166
Segment revenues	1,227		546				1,773		1,238		504				1,742
Segment site rental costs of operations	234		172				406		225		162				387
Segment services and other costs of operations	99		2				101		109		2				111
Segment costs of operations(a)(b)	333		174				507		334		164				498
Segment site rental gross margin	847		371				1,218		850		339				1,189
Segment services and other gross margin	47		1				48		54		1				55
Segment selling, general and administrative expenses(b)	31		49				80		28		47				75
Segment operating profit (loss)	863		323				1,186		876		293				1,169
Other selling, general and administrative expenses(b)					$	82	82						$	74	74
Stock-based compensation expense, net					41		41						39		39
Depreciation, amortization and accretion					431		431						420		420
Interest expense and amortization of deferred financing costs, net					202		202						164		164
Other (income) expenses to reconcile to income (loss) before income taxes(c)					5		5						45		45
Income (loss) before income taxes							$	425							$	427
Capital expenditures	$	50	$	279	$	12	$	341	$	47	$	222	$	12	$	281
Total assets (at period end)	$	22,185	$	16,091	$	778	$	39,054	$	22,330	$	15,839	$	882	$	39,051

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

(b)Segment costs of operations excludes (1) stock-based compensation expense, net of $8 million and $7 million for the three months ended March 31, 2023 and 2022, respectively, and (2) prepaid lease purchase price adjustments of $4 million for each of the three months ended March 31, 2023 and 2022. Segment selling, general and administrative expenses and other selling, general and administrative expenses exclude stock-based compensation expense, net of $33 million and $32 million for the three months ended March 31, 2023 and 2022, respectively.

(c)See condensed consolidated statement of operations and comprehensive income (loss) for further information.