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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


operating segments. All intercompany transactions are eliminated to reconcile segment results and assets to the consolidated statements of operations and consolidated balance sheets.

Summarized financial information concerning the Company’s reportable segments for the three and nine months ended September 30, 2017 and 2016 is shown in the following tables. The “Other” column (i) represents amounts excluded from specific segments, such as business development operations, stock-based compensation expense and corporate expenses included in Selling, general, administrative and development expense; Other operating expenses; Interest income; Interest expense; Gain (loss) on retirement of long-term obligations; and Other income (expense), and (ii) reconciles segment operating profit to Income from continuing operations before income taxes.
 
 
Property
Total 
Property
 

Services
 
Other
 
Total
Three Months Ended September 30, 2017
 
U.S.
 
Asia
 
EMEA
 
Latin America
 
 
 
(in thousands)
Segment revenues
 
$
904,181

 
$
297,545

 
$
155,438

 
$
298,185

 
$
1,655,349

 
$
25,417

 
 
 
$
1,680,766

Segment operating expenses (1)
 
187,686

 
164,908

 
59,805

 
98,276

 
510,675

 
8,419

 
 
 
519,094

Interest income, TV Azteca, net
 

 

 

 
2,713

 
2,713

 

 
 
 
2,713

Segment gross margin
 
716,495

 
132,637

 
95,633

 
202,622

 
1,147,387

 
16,998

 
 
 
1,164,385

Segment selling, general, administrative and development expense (1)
 
41,402

 
12,408

 
15,225

 
18,579

 
87,614

 
3,631

 
 
 
91,245

Segment operating profit
 
$
675,093

 
$
120,229

 
$
80,408

 
$
184,043

 
$
1,059,773

 
$
13,367

 
 
 
$
1,073,140

Stock-based compensation expense
 
 
 
 
 
 
 
 
 
 
 
 
 
$
24,463

 
24,463

Other selling, general, administrative and development expense
 
 
 
 
 
 
 
 
 
 
 
 
 
32,918

 
32,918

Depreciation, amortization and accretion
 
 
 
 
 
 
 
 
 
 
 
 
 
432,354

 
432,354

Other expense (2)
 
 
 
 
 
 
 
 
 
 
 
 
 
215,309

 
215,309

Income from continuing operations before income taxes
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
$
368,096

Total assets
 
$
18,638,997

 
$
4,851,455

 
$
3,137,629

 
$
5,391,283

 
$
32,019,364

 
$
47,867

 
$
252,095

 
$
32,319,326

_______________
(1)
Segment operating expenses and segment selling, general, administrative and development expenses exclude stock-based compensation expense of $0.7 million and $23.8 million, respectively.
(2)
Primarily includes interest expense.

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