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SEC Filings

10-Q
 filed this Form 10-Q on 10/31/2017
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PART I.
FINANCIAL INFORMATION
ITEM 1.
UNAUDITED CONSOLIDATED AND CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
AMERICAN TOWER CORPORATION AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(in thousands, except share data)
 
 
September 30, 2017
 
December 31, 2016
ASSETS
 
 
 
 
CURRENT ASSETS:
 
 
 
 
Cash and cash equivalents
 
$
799,467

 
$
787,161

Restricted cash
 
155,208

 
149,281

Short-term investments
 
1,032

 
4,026

Accounts receivable, net
 
508,626

 
308,369

Prepaid and other current assets
 
499,241

 
441,033

Total current assets
 
1,963,574

 
1,689,870

PROPERTY AND EQUIPMENT, net
 
10,795,057

 
10,517,258

GOODWILL
 
5,371,679

 
5,070,680

OTHER INTANGIBLE ASSETS, net
 
11,580,994

 
11,274,611

DEFERRED TAX ASSET
 
221,759

 
195,678

DEFERRED RENT ASSET
 
1,454,780

 
1,289,530

NOTES RECEIVABLE AND OTHER NON-CURRENT ASSETS
 
931,483

 
841,523

TOTAL
 
$
32,319,326

 
$
30,879,150

LIABILITIES
 
 
 
 
CURRENT LIABILITIES:
 
 
 
 
Accounts payable
 
$
119,745

 
$
118,666

Accrued expenses
 
774,072

 
620,563

Distributions payable
 
286,911

 
250,550

Accrued interest
 
103,242

 
157,297

Current portion of long-term obligations
 
687,382

 
238,806

Unearned revenue
 
288,884

 
245,387

Total current liabilities
 
2,260,236

 
1,631,269

LONG-TERM OBLIGATIONS
 
18,581,381

 
18,294,659

ASSET RETIREMENT OBLIGATIONS
 
1,054,092

 
965,507

DEFERRED TAX LIABILITY
 
976,725

 
777,572

OTHER NON-CURRENT LIABILITIES
 
1,190,486

 
1,142,723

Total liabilities
 
24,062,920

 
22,811,730

COMMITMENTS AND CONTINGENCIES
 


 


REDEEMABLE NONCONTROLLING INTERESTS
 
1,146,773

 
1,091,220

EQUITY:
 
 
 
 
Preferred stock: $.01 par value; 20,000,000 shares authorized;
 
 
 
 
5.25%, Series A, 6,000,000 shares issued, 0 and 6,000,000 shares outstanding; aggregate liquidation value of $0 and $600,000, respectively
 

 
60

5.50%, Series B, 1,375,000 shares issued, 1,374,986 and 1,375,000 shares outstanding; aggregate liquidation value of $1,374,986 and $1,375,000, respectively
 
14

 
14

Common stock: $.01 par value; 1,000,000,000 shares authorized; 437,510,284 and 429,912,536 shares issued; and 429,243,720 and 427,102,510 shares outstanding, respectively
 
4,375

 
4,299

Additional paid-in capital
 
10,212,535

 
10,043,559

Distributions in excess of earnings
 
(975,158
)
 
(1,076,965
)
Accumulated other comprehensive loss
 
(1,839,029
)
 
(1,999,332
)
Treasury stock (8,266,564 and 2,810,026 shares at cost, respectively)
 
(884,610
)
 
(207,740
)
Total American Tower Corporation equity
 
6,518,127

 
6,763,895

Noncontrolling interests
 
591,506

 
212,305

Total equity
 
7,109,633

 
6,976,200

TOTAL
 
$
32,319,326

 
$
30,879,150

See accompanying notes to unaudited consolidated and condensed consolidated financial statements.

1

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