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SEC Filings

10-Q
 filed this Form 10-Q on 10/31/2017
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utilizing our net operating losses (“NOLs”), subject to specified limitations. Consequently, the effective tax rate on income from continuing operations for the three and nine months ended September 30, 2017 and 2016 differs from the federal statutory rate.

The increase in the income tax provision for the three months ended September 30, 2017 was primarily attributable to an increase in foreign earnings, partially offset by fewer uncertain tax positions taken in 2017 than in 2016.

The decrease in the income tax provision for the nine months ended September 30, 2017 was primarily attributable to fewer uncertain tax positions taken in 2017 than in 2016 and a clarification of income tax law in Ghana, which resulted in an income tax benefit of $11.6 million, offset by an increase in foreign earnings.

Net Income/Adjusted EBITDA and Net Income/NAREIT FFO/Consolidated AFFO
 
 
 
Three Months Ended September 30,
 
Percent Increase (Decrease)
 
Nine Months Ended September 30,
 
Percent Increase (Decrease)
 
 
2017
 
2016
 
 
2017
 
2016
 
Net income
 
$
334,684

 
$
263,735

 
27
 %
 
$
1,030,584

 
$
737,506

 
40
 %
Income tax provision
 
33,412

 
22,037

 
52

 
84,155

 
94,671

 
(11
)
Other expense (income)
 
1,114

 
12,260

 
(91
)
 
(39,970
)
 
25,894

 
(254
)
Loss (gain) on retirement of long-term obligations
 
14,183

 

 
100

 
69,897

 
(830
)
 
8,521

Interest expense
 
188,784

 
190,160

 
(1
)
 
559,507

 
531,076

 
5

Interest income
 
(8,313
)
 
(6,376
)
 
30

 
(26,551
)
 
(16,378
)
 
62

Other operating expenses
 
19,541

 
14,998

 
30

 
44,595

 
37,509

 
19

Depreciation, amortization and accretion
 
432,354

 
397,999

 
9

 
1,249,849

 
1,137,398

 
10

Stock-based compensation expense
 
24,463

 
20,226

 
21

 
86,423

 
70,212

 
23

Adjusted EBITDA
 
$
1,040,222

 
$
915,039

 
14
 %
 
$
3,058,489

 
$
2,617,058

 
17
 %

43

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