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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


 
 
Property
Total 
Property
 

Services
 
Other
 
Total
Three Months Ended September 30, 2016
 
U.S.
 
Asia
 
EMEA
 
Latin America
 
 
 
(in thousands)
Segment revenues
 
$
837,002

 
$
269,907

 
$
130,664

 
$
260,363

 
$
1,497,936

 
$
16,909

 
 
 
$
1,514,845

Segment operating expenses (1)
 
188,777

 
154,139

 
53,787

 
88,396

 
485,099

 
5,540

 
 
 
490,639

Interest income, TV Azteca, net
 

 

 

 
2,742

 
2,742

 

 
 
 
2,742

Segment gross margin
 
648,225

 
115,768

 
76,877

 
174,709

 
1,015,579

 
11,369

 
 
 
1,026,948

Segment selling, general, administrative and development expense (1)
 
35,526

 
15,030

 
12,958

 
15,454

 
78,968

 
2,726

 
 
 
81,694

Segment operating profit
 
$
612,699

 
$
100,738

 
$
63,919

 
$
159,255

 
$
936,611

 
$
8,643

 
 
 
$
945,254

Stock-based compensation expense
 
 
 
 
 
 
 
 
 
 
 
 
 
$
20,226

 
20,226

Other selling, general, administrative and development expense
 
 
 
 
 
 
 
 
 
 
 
 
 
30,215

 
30,215

Depreciation, amortization and accretion
 
 
 
 
 
 
 
 
 
 
 
 
 
397,999

 
397,999

Other expense (2)
 
 
 
 
 
 
 
 
 
 
 
 
 
211,042

 
211,042

Income from continuing operations before income taxes
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
$
285,772

Total assets
 
$
18,837,629

 
$
4,612,766

 
$
2,120,592

 
$
4,885,066

 
$
30,456,053

 
$
60,810

 
$
138,664

 
$
30,655,527

_______________
(1)
Segment operating expenses and segment selling, general, administrative and development expenses exclude stock-based compensation expense of $0.6 million and $19.6 million, respectively.
(2)
Primarily includes interest expense.
 
 
Property
Total 
Property
 

Services
 
Other
 
Total
Nine Months Ended September 30, 2017
 
U.S.
 
Asia
 
EMEA
 
Latin America
 
 
 
(in thousands)
Segment revenues
 
$
2,693,361

 
$
867,632

 
$
465,473

 
$
861,122

 
$
4,887,588

 
$
71,850

 
 
 
$
4,959,438

Segment operating expenses (1)
 
552,646

 
482,302

 
180,369

 
287,459

 
1,502,776

 
24,485

 
 
 
1,527,261

Interest income, TV Azteca, net
 

 

 

 
8,183

 
8,183

 

 
 
 
8,183

Segment gross margin
 
2,140,715

 
385,330

 
285,104

 
581,846

 
3,392,995

 
47,365

 
 
 
3,440,360

Segment selling, general, administrative and development expense (1)
 
112,273

 
49,474

 
49,627

 
56,622

 
267,996

 
10,224

 
 
 
278,220

Segment operating profit
 
$
2,028,442

 
$
335,856

 
$
235,477

 
$
525,224

 
$
3,124,999

 
$
37,141

 
 
 
$
3,162,140

Stock-based compensation expense
 
 
 
 
 
 
 
 
 
 
 
 
 
$
86,423

 
86,423

Other selling, general, administrative and development expense
 
 
 
 
 
 
 
 
 
 
 
 
 
103,651

 
103,651

Depreciation, amortization and accretion
 
 
 
 
 
 
 
 
 
 
 
 
 
1,249,849

 
1,249,849

Other expense (2)
 
 
 
 
 
 
 
 
 
 
 
 
 
607,478

 
607,478

Income from continuing operations before income taxes
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
$
1,114,739

_______________
(1)
Segment operating expenses and segment selling, general, administrative and development expenses exclude stock-based compensation expense of $2.4 million and $84.0 million, respectively.
(2)
Primarily includes interest expense.


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