v3.26.1
Segment Data (Tables)
6 Months Ended
Jun. 30, 2026
Segment Data [Abstract]  
Schedule of Segment Reporting Information

Domestic Site

Int'l Site

Site

Leasing

Leasing

Development

Other

Total

For the three months ended June 30, 2026

(in thousands)

Revenues (1)

$

452,448 

$

211,437 

$

51,389 

$

$

715,274 

Cost of revenues (2)

71,427 

62,649 

41,926 

176,002 

Operating profit

381,021 

148,788 

9,463 

539,272 

Selling, general, and administrative expenses

33,703 

20,213 

3,423 

20,209 

77,548 

Acquisition and new business initiatives

related adjustments and expenses

4,392 

1,534 

5,926 

Asset impairment and decommission costs

12,840 

9,340 

66 

320 

22,566 

Depreciation, amortization and accretion

37,977 

40,061 

1,097 

2,236 

81,371 

Operating income (loss)

292,109 

77,640 

4,877 

(22,765)

351,861 

Other expense, net (principally interest

expense and other income)

(119,396)

(119,396)

Income before income taxes

232,465 

Cash capital expenditures (3)

53,232 

33,824 

944 

4,358 

92,358 

For the three months ended June 30, 2025

Revenues (1)

$

469,807 

$

161,981 

$

67,193 

$

$

698,981 

Cost of revenues (2)

69,421 

49,150 

53,525 

172,096 

Operating profit

400,386 

112,831 

13,668 

526,885 

Selling, general, and administrative expenses

31,515 

20,803 

3,065 

15,639 

71,022 

Acquisition and new business initiatives

related adjustments and expenses

4,667 

1,220 

5,887 

Asset impairment and decommission costs

19,977 

25,088 

166 

45,231 

Depreciation, amortization and accretion

36,840 

30,249 

864 

2,011 

69,964 

Operating income (loss)

307,387 

35,471 

9,739 

(17,816)

334,781 

Other expense, net (principally interest

expense and other income)

(74,028)

(74,028)

Income before income taxes

260,753 

Cash capital expenditures (3)

41,906 

602,782 

1,474 

771 

646,933 


Domestic Site

Int'l Site

Site

Leasing

Leasing

Development

Other

Total

For the six months ended June 30, 2026

(in thousands)

Revenues (1)

$

902,749 

$

417,285 

$

98,678 

$

$

1,418,712 

Cost of revenues (2)

142,047 

123,940 

81,350 

347,337 

Operating profit

760,702 

293,345 

17,328 

1,071,375 

Selling, general, and administrative expenses

65,060 

38,522 

7,002 

37,512 

148,096 

Acquisition and new business initiatives

related adjustments and expenses

9,922 

4,094 

14,016 

Asset impairment and decommission costs

39,812 

11,471 

264 

320 

51,867 

Depreciation, amortization and accretion

75,594 

81,215 

2,000 

3,877 

162,686 

Operating income (loss)

570,314 

158,043 

8,062 

(41,709)

694,710 

Other expense, net (principally interest

expense and other income)

(226,227)

(226,227)

Income before income taxes

468,483 

Cash capital expenditures (3)

112,807 

163,129 

1,376 

7,277 

284,589 

For the six months ended June 30, 2025

Revenues (1)

$

930,800 

$

317,197 

$

115,232 

$

$

1,363,229 

Cost of revenues (2)

137,693 

96,356 

91,714 

325,763 

Operating profit

793,107 

220,841 

23,518 

1,037,466 

Selling, general, and administrative expenses

62,522 

38,227 

6,280 

30,212 

137,241 

Acquisition and new business initiatives

related adjustments and expenses

10,528 

2,738 

13,266 

Asset impairment and decommission costs

35,141 

46,406 

710 

82,257 

Depreciation, amortization and accretion

73,584 

55,772 

1,721 

3,935 

135,012 

Operating income (loss)

611,332 

77,698 

15,517 

(34,857)

669,690 

Other expense, net (principally interest

expense and other income)

(149,014)

(149,014)

Income before income taxes

520,676 

Cash capital expenditures (3)

84,284 

669,122 

2,300 

1,666 

757,372 

Domestic Site

Int'l Site

Site

Leasing

Leasing

Development

Other (4)

Total

Assets

(in thousands)

As of June 30, 2026

$

6,229,558 

$

5,252,697 

$

81,133 

$

178,932 

$

11,742,320 

As of December 31, 2025

$

6,178,526 

$

5,183,588 

$

98,072 

$

114,826 

$

11,575,012 

(1)For the three months ended June 30, 2026 and 2025, site leasing revenue in Brazil was $96.3 million and $85.1 million, respectively. For the six months ended June 30, 2026 and 2025, site leasing revenue in Brazil was $185.1 million and $170.1 million, respectively. Other than Brazil, no foreign country represented more than 5% of the Company’s total site leasing revenue in any of the periods presented.

(2)Excludes depreciation, amortization, and accretion. Cost of revenues is primarily comprised of rent expense related to the Company’s ground leases.

(3)Includes cash paid for capital expenditures, acquisitions, and right-of-use assets.

(4)Assets in Other consist primarily of general corporate assets and short-term investments.

Schedule of Long-Lived Assets by Geographic Areas

As of

As of

June 30, 2026

December 31, 2025

(in thousands)

Domestic

$

5,773,718

$

5,737,975

Brazil

1,854,704

1,799,578

Guatemala

757,452

636,476

Other international

1,958,792

1,975,560

Total

$

10,344,666

$

10,149,589