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10-Q
 filed this Form 10-Q on 10/31/2017
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AMERICAN TOWER CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED AND CONDENSED CONSOLIDATED FINANCIAL STATEMENTS


The following table summarizes the preliminary and updated allocations of the purchase prices paid and the amounts of assets acquired and liabilities assumed for the fiscal year 2016 acquisitions based upon their estimated fair value at the date of acquisition (in thousands). Balances are reflected in the accompanying consolidated balance sheet as of September 30, 2017.
 
 
Preliminary Allocation (1)
 
Updated Allocation
 
 
Asia
 
Other (2)
 
Asia
 
Other
 
 
Viom
 
 
Viom (3)
 
Current assets
 
$
276,560

 
$
25,477

 
$
281,930

 
$
24,538

Non-current assets
 
57,645

 
2,336

 
52,275

 
2,336

Property and equipment
 
701,988

 
81,521

 
705,849

 
81,472

Intangible assets (4):
 
 
 
 
 
 
 
 
     Tenant-related intangible assets
 
1,369,580

 
105,557

 
1,369,580

 
105,557

     Network location intangible assets
 
666,364

 
83,645

 
666,364

 
83,645

Current liabilities
 
(195,900
)
 
(14,782
)
 
(201,142
)
 
(14,782
)
Deferred tax liability
 
(619,070
)
 
(43,756
)
 
(619,074
)
 
(43,410
)
Other non-current liabilities
 
(102,751
)
 
(29,472
)
 
(101,766
)
 
(29,472
)
Net assets acquired
 
2,154,416

 
210,526

 
2,154,016

 
209,884

Goodwill (5)
 
881,783

 
93,856

 
882,183

 
94,498

Fair value of net assets acquired
 
3,036,199

 
304,382

 
3,036,199

 
304,382

Debt assumed
 
(786,889
)
 

 
(786,889
)
 

Redeemable noncontrolling interests
 
(1,100,804
)
 

 
(1,100,804
)
 

Purchase price
 
$
1,148,506

 
$
304,382

 
$
1,148,506

 
$
304,382

_______________
(1)
As reported for the year ended December 31, 2016.
(2)
Of the total purchase price, $12.1 million was reflected in Accounts payable in the consolidated balance sheet as of December 31, 2016.
(3)
The allocation of the purchase price for the Viom Acquisition was finalized during the nine months ended September 30, 2017.
(4)
Tenant-related intangible assets and network location intangible assets are amortized on a straight-line basis over periods of up to 20 years.
(5)
Primarily results from purchase accounting adjustments, which are at least partially deductible for tax purposes.

Pro Forma Consolidated Results (Unaudited)
The following table presents the unaudited pro forma financial results as if the 2017 acquisitions had occurred on January 1, 2016 and the 2016 acquisitions had occurred on January 1, 2015. The pro forma results do not include any anticipated cost synergies, costs or other integration impacts. Accordingly, such pro forma amounts are not necessarily indicative of the results that actually would have occurred had the transactions been completed on the date indicated, nor are they indicative of the future operating results of the Company.

 
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
 
2017
 
2016
 
2017
 
2016
Pro forma revenues
 
$
1,681,743

 
$
1,542,483

 
$
4,975,028

 
$
4,574,135

Pro forma net income attributable to American Tower Corporation common stockholders
 
$
298,134

 
$
236,909

 
$
931,432

 
$
638,249

Pro forma net income per common share amounts:
 
 
 
 
 
 
 
 
Basic net income attributable to American Tower Corporation common stockholders
 
$
0.69

 
$
0.56

 
$
2.18

 
$
1.50

Diluted net income attributable to American Tower Corporation common stockholders
 
$
0.69

 
$
0.55

 
$
2.16

 
$
1.49


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