Document_and_Entity_Informatio
Document and Entity Information (USD $) | 12 Months Ended | ||
In Billions, except Share data, unless otherwise specified | Dec. 31, 2013 | Feb. 24, 2014 | Jun. 30, 2013 |
Entity Information [Line Items] | ' | ' | ' |
Entity Registrant Name | 'CC Holdings GS V LLC | ' | ' |
Entity Central Index Key | '0001574291 | ' | ' |
Current Fiscal Year End Date | '--12-31 | ' | ' |
Entity Filer Category | 'Non-accelerated Filer | ' | ' |
Document Type | '10-K | ' | ' |
Document Period End Date | 31-Dec-13 | ' | ' |
Document Fiscal Year Focus | '2013 | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' |
Amendment Flag | 'false | ' | ' |
Entity Common Stock, Shares Outstanding | ' | 0 | ' |
Entity Well-known Seasoned Issuer | 'No | ' | ' |
Entity Voluntary Filers | 'No | ' | ' |
Entity Current Reporting Status | 'Yes | ' | ' |
Entity Public Float | ' | ' | $0 |
Consolidated_Balance_Sheet
Consolidated Balance Sheet (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | ||
In Thousands, unless otherwise specified | ||||
ASSETS | ' | ' | ||
Cash and cash equivalents | $31,036 | $0 | ||
Restricted cash | 0 | 400,493 | ||
Receivables, net of allowance of $1,376 and $1,507, respectively | 3,064 | 2,590 | ||
Prepaid expenses | 21,625 | 20,752 | ||
Deferred income tax assets | 0 | 15,060 | ||
Deferred site rental receivables and other current assets | 6,994 | 8,089 | ||
Total current assets | 62,719 | 446,984 | ||
Deferred site rental receivables | 286,375 | 221,315 | ||
Property and equipment, net | 1,147,392 | 1,146,008 | ||
Goodwill | 1,338,730 | 1,338,730 | ||
Site rental contracts and customer relationships, net | 1,355,348 | 1,468,493 | ||
Other intangible assets, net | 29,382 | 33,211 | ||
Long-term prepaid rent, deferred financing costs, and other assets, net | 49,573 | 48,995 | ||
Long-term prepaid rent, deferred financing costs, and other assets, net | 4,269,519 | 4,703,736 | ||
LIABILITIES AND EQUITY | ' | ' | ||
Accounts payable | 2,336 | 1,260 | ||
Accrued income taxes | 8,848 | 2,429 | ||
Accrued interest | 8,655 | 4,922 | ||
Deferred revenues | 19,981 | 13,751 | ||
Other accrued liabilities | 6,812 | 6,972 | ||
Current maturities of debt and other obligations | 0 | [1] | 291,394 | [1] |
Total current liabilities | 46,632 | 320,728 | ||
Debt | 1,500,000 | 1,500,000 | ||
Deferred income tax liabilities | 0 | 397,240 | ||
Deferred ground lease payable | 79,452 | 70,998 | ||
Above-market leases and other liabilities | 50,069 | 51,205 | ||
Total liabilities | 1,676,153 | 2,340,171 | ||
Commitments and contingencies (note 9) | ' | ' | ||
Member's equity: | ' | ' | ||
Member's equity | 2,327,938 | 2,495,641 | ||
Accumulated earnings (deficit) | 265,428 | -132,076 | ||
Total member's equity | 2,593,366 | 2,363,565 | ||
Total liabilities and equity | $4,269,519 | $4,703,736 | ||
[1] | Represents the weighted-average stated rate. |
Consolidated_Balance_Sheet_Par
Consolidated Balance Sheet (Parenthetical) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Allowance for doubtful accounts receivable, current | $1,376 | $1,507 |
Consolidated_Statement_of_Oper
Consolidated Statement of Operations and Comprehensive Income (Loss) (USD $) | 12 Months Ended | |||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||
Net revenues: | ' | ' | ' | |||
Site rental revenues | $604,097 | $594,903 | $540,052 | |||
Operating expenses: | ' | ' | ' | |||
Site rental cost of operationsbthird parties(a) | 150,301 | [1] | 151,129 | [1] | 154,236 | [1] |
Site rental cost of operationsbrelated parties(a) | 28,377 | [1] | 24,379 | [1] | 18,298 | [1] |
Site rental cost of operationsbtotal(a) | 178,678 | [1] | 175,508 | [1] | 172,534 | [1] |
Management fee | 40,561 | 38,693 | 36,606 | |||
Asset write-down charges | 5,729 | 3,459 | 11,715 | |||
Depreciation, amortization, and accretion | 197,325 | 189,238 | 191,032 | |||
Total operating expenses | 422,293 | 406,898 | 411,887 | |||
Operating income (loss) | 181,804 | 188,005 | 128,165 | |||
Interest expense and amortization of deferred financing costsbthird parties | -58,375 | -87,010 | -83,075 | |||
Interest expense and amortization of deferred financing costsbrelated parties | 0 | -17,188 | -15,880 | |||
Interest expense and amortization of deferred financing costsbtotal | -58,375 | -104,198 | -98,955 | |||
Gains (losses) on retirement of long-term obligations | -18,103 | -67,210 | 0 | |||
Other income (expense) | 50 | 84 | -20 | |||
Income (loss) before income taxes | 105,376 | 16,681 | 29,190 | |||
Benefit (provision) for income taxes | 348,443 | -9,536 | -10,926 | |||
Net income (loss) | 453,819 | 7,145 | 18,264 | |||
Net income (loss) | $453,819 | $7,145 | $18,264 | |||
[1] | Exclusive of depreciation, amortization and accretion shown separately and certain indirect costs included in the management fee. |
Consolidated_Statement_of_Cash
Consolidated Statement of Cash Flows (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Cash flows from operating activities: | ' | ' | ' |
Net income (loss) | $453,819 | $7,145 | $18,264 |
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ' | ' | ' |
Depreciation, amortization and accretion | 197,325 | 189,238 | 191,032 |
Amortization of deferred financing costs and other non-cash interest on long-term debt | 7,551 | 12,317 | 5,955 |
Asset write-down charges | 5,729 | 3,459 | 11,715 |
Gains (losses) on retirement of long-term obligations | 18,103 | 67,210 | 0 |
Deferred income tax benefit (provision) | -355,184 | 8,189 | 9,506 |
Changes in assets and liabilities: | ' | ' | ' |
Increase (decrease) in accrued interest | 3,733 | -10,578 | 0 |
Increase (decrease) in accounts payable | 1,052 | 554 | 266 |
Increase (decrease) in deferred revenues, deferred ground lease payable, and other liabilities | 17,770 | 1,085 | -10,611 |
Decrease (increase) in receivables | -474 | 1,209 | -764 |
Decrease (increase) in other current assets, deferred site rental receivable, long-term prepaid rent, restricted cash, and other assets | -53,065 | -87,465 | -59,513 |
Net cash provided by (used for) operating activities | 296,359 | 192,363 | 165,850 |
Cash flows from investing activities: | ' | ' | ' |
Capital expenditures | -86,785 | -52,442 | -33,641 |
Other investing activities | 239 | 7 | 85 |
Payments for acquisitions of businesses, net of cash acquired | 0 | 0 | -2,410 |
Net cash provided by (used for) investing activities | -86,546 | -52,435 | -35,966 |
Cash flows from financing activities: | ' | ' | ' |
Proceeds from issuance of long-term debt | 0 | 1,500,000 | 0 |
Purchases and redemptions of long-term debt | -312,465 | -713,305 | 0 |
Payments for financing costs | -3,690 | -17,707 | 0 |
Net (increase) decrease in amount due from affiliates | -251,013 | -597,445 | -127,087 |
Net (increase) decrease in restricted cash | 388,391 | -311,471 | -2,797 |
Net cash provided by (used for) financing activities | -178,777 | -139,928 | -129,884 |
Net increase (decrease) in cash and cash equivalents | 31,036 | 0 | 0 |
Cash and cash equivalents at beginning of year | 0 | 0 | 0 |
Cash and cash equivalents at end of year | $31,036 | $0 | $0 |
Consolidated_Statement_of_Chan
Consolidated Statement of Changes in Member's Equity (USD $) | Total | Members' Capital [Member] | Accumulated Earnings (Deficit) [Member] |
In Thousands, unless otherwise specified | |||
Balance, beginning at Dec. 31, 2010 | $2,795,845 | $2,953,330 | ($157,485) |
Equity [Roll Forward] | ' | ' | ' |
Equity contribution - income taxes | 22,904 | 22,904 | ' |
Equity contributionb7.75% Secured Notes from affiliate | 0 | ' | ' |
Equity distribution | -127,087 | -127,087 | ' |
Net income (loss) | 18,264 | ' | 18,264 |
Balance, ending at Dec. 31, 2011 | 2,709,926 | 2,849,147 | -139,221 |
Equity [Roll Forward] | ' | ' | ' |
Equity contribution - income taxes | 8,858 | 8,858 | ' |
Equity contributionb7.75% Secured Notes from affiliate | 235,081 | 235,081 | ' |
Equity distribution | -597,445 | -597,445 | ' |
Net income (loss) | 7,145 | ' | 7,145 |
Balance, ending at Dec. 31, 2012 | 2,363,565 | 2,495,641 | -132,076 |
Equity [Roll Forward] | ' | ' | ' |
Equity contribution - income taxes | 26,995 | 26,995 | ' |
Equity contributionb7.75% Secured Notes from affiliate | 0 | ' | ' |
Equity distribution | -251,013 | -194,698 | -56,315 |
Net income (loss) | 453,819 | ' | 453,819 |
Balance, ending at Dec. 31, 2013 | $2,593,366 | $2,327,938 | $265,428 |
Basis_of_Presentation
Basis of Presentation | 12 Months Ended |
Dec. 31, 2013 | |
Basis of Presentation [Abstract] | ' |
Basis of Presentation | ' |
Basis of Presentation | |
The accompanying consolidated financial statements reflect the consolidated financial position, results of operations, and cash flows of CC Holdings GS V LLC ("CCL") and its consolidated wholly-owned subsidiaries (collectively, the "Company"). The Company is a wholly-owned subsidiary of Global Signal Operating Partnership, L.P. ("GSOP"), which is an indirect subsidiary of Crown Castle International Corp., a Delaware corporation ("CCIC" or "Crown Castle"). CCL is a Delaware limited liability company ("LLC") that is a holding company and an issuer of the Company's debt. All significant inter-company accounts, transactions, and profits have been eliminated. As used herein, the term "including," and any variation thereof means "including without limitations. The use of the word "or" herein is not exclusive. | |
The Company is organized specifically to own, lease, and manage approximately 7,800 communications towers and other structures, such as rooftops and interests in land under third party and related party towers in various forms (collectively, "towers," "sites" or "wireless infrastructure") to wireless communications companies. The Company's core business is providing access, including space or capacity, to its sites via long-term contracts in various forms, including licenses, subleases, and lease agreements (collectively, "contracts"). The Company's sites are geographically dispersed across the United States. | |
Approximately 68% of the Company's sites are leased or subleased or operated and managed for an initial period of 32 years (through May 2037) under master lease or other agreements with Sprint ("Sprint Sites"). CCIC, through its subsidiaries (including the Company), has the option to purchase in 2037 all (but not less than all) of the Sprint Sites from Sprint for approximately $2.3 billion. The option to purchase these Sprint Sites is not a firm commitment and is not required. Management services related to our sites are performed by Crown Castle USA Inc. ("CCUSA"), an affiliate of the Company, under the Management Agreement (as defined below), as the Company has no employees. | |
The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and use assumptions that affect the reported amounts of assets and liabilities and the disclosure for contingent assets and liabilities at the date of the financial statements as well as the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates. |
Summary_of_Significant_Account
Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2013 | |
Summary of Significant Accounting Policies [Abstract] | ' |
Summary of Significant Accounting Policies | ' |
Summary of Significant Accounting Policies | |
Cash Equivalents | |
Cash equivalents consist of highly liquid investments with original maturities of three months or less and is inclusive of cash held pursuant to the Management Agreement. | |
Restricted Cash | |
As of December 31, 2012, restricted cash represented the cash held in reserve by the indenture trustees or otherwise restricted pursuant to the indenture governing the previously outstanding 7.75% Secured Notes (as defined in note 5). The Company classified the increases and decreases in restricted cash as (1) cash provided by financing activities for cash held by the indenture trustee based on consideration of the terms of the 7.75% Secured Notes, which was a critical feature of the 7.75% Secured Notes based on the indenture trustee's ability to utilize the restricted cash for payment of various expenses including debt service, although the cash flows have aspects of both financing activities and operating activities or (2) cash provided by operating activities for the other remaining restricted cash. Restricted cash increased cash flow from operating activities by $12.1 million for the year ended December 31, 2013 and decreased cash flow from operating activities by $5.6 million and $5.0 million for the years ended December 31, 2012 and 2011, respectively. As of December 31, 2012, restricted cash included $316.6 million comprised of the cash held by the trustee to redeem all of the then outstanding 7.75% Secured Notes as discussed in note 5. Following the redemption of the 7.75% Secured Notes in January 2013, all of the remaining restricted cash was released to the Company. | |
Receivables Allowance | |
An allowance for doubtful accounts is recorded as an offset to accounts receivable. The Company uses judgment in estimating this allowance and considers historical collections, current credit status, or contractual provisions. Additions to the allowance for doubtful accounts are charged to “costs of operations,” and deductions from the allowance are recorded when specific accounts receivable are written off as uncollectible. | |
Lease Accounting | |
General. The Company classifies its leases at inception as either operating leases or capital leases. A lease is classified as a capital lease if at least one of the following criteria are met, subject to certain exceptions noted below: (1) the lease transfers ownership of the leased assets to the lessee, (2) there is a bargain purchase option, (3) the lease term is equal to 75% or more of the economic life of the leased assets or (4) the present value of the minimum lease payments equals or exceeds 90% of the fair value of the leased assets. | |
Lessee. Leases for land are evaluated for capital lease treatment if at least one of the first two criteria mentioned in the immediately preceding paragraph is present relating to the leased assets. When the Company, as lessee, classifies a lease as a capital lease, it records an asset in an amount equal to the present value of the minimum lease payments under the lease at the beginning of the lease term. Applicable operating leases are recognized on a straight-line basis as discussed under "Costs of Operations" below. | |
Lessor. If the Company is the lessor of leased property that is part of a larger whole (including with respect to a portion of space on a tower) and for which fair value is not objectively determinable, then such lease is accounted for as an operating lease. As applicable, operating leases are recognized on a straight-line basis as discussed under "Revenue Recognition." | |
Property and Equipment | |
Property and equipment is stated at cost, net of accumulated depreciation. Property and equipment includes land owned in fee and perpetual easements for land which have no definite life. When the Company purchases fee ownership or perpetual easements for the land previously subject to ground lease, the Company reduces the value recorded as land by the amount of any associated deferred ground lease payable or unamortized above-market leases. Depreciation is computed utilizing the straight-line method at rates based upon the estimated useful lives of the various classes of assets. Depreciation of wireless infrastructure is generally computed with a useful life equal to the shorter of 20 years or the term of the underlying ground lease (including optional renewal periods). Additions, renewals, or improvements are capitalized, while maintenance and repairs are expensed. The carrying value of property and equipment will be reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of the assets may not be recoverable. | |
Abandonments and write-offs of property and equipment are recorded to "asset write-down charges" on the Company's consolidated statement of operations and were $3.4 million, $3.4 million, and $7.4 million for the years ended December 31, 2013, 2012, and 2011, respectively. | |
Asset Retirement Obligations | |
Pursuant to its ground lease and easement agreements, the Company records obligations to perform asset retirement activities, including requirements to remove wireless infrastructure or remediate the land upon which the Company's wireless infrastructure resides. With respect to the Sprint Sites, the Company does not have retirement obligations to the extent such retirement would occur beyond the period for which it has a lease term. Asset retirement obligations are included in " above-market leases and other liabilities" on the Company's consolidated balance sheet. The liability accretes as a result of the passage of time and the related accretion expense is included in "depreciation, amortization, and accretion" expense on the Company's consolidated statement of operations. The associated asset retirement costs are capitalized as an additional carrying amount of the related long-lived asset and depreciated over the useful life of such asset. | |
Goodwill | |
Goodwill represents the excess of the purchase price for an acquired business over the allocated value of the related net assets. The Company tests goodwill for impairment on an annual basis, regardless of whether adverse events or changes in circumstances have occurred. The annual test begins with goodwill and all intangible assets being allocated to applicable reporting units. The Company then performs a qualitative assessment to determine whether it is "more likely than not" that the fair value of the reporting units is less than its carrying amount. If it is concluded that it is "more likely than not" that the fair value of a reporting unit is less than its carrying amount, it is necessary to perform the two-step goodwill impairment test. The two-step goodwill impairment test begins with an estimation of fair value of the reporting unit using an income approach, which looks to the present value of expected future cash flows. The first step, commonly referred to as a “step-one impairment test,” is a screen for potential impairment while the second step measures the amount of any impairment if there is an indication from the first step that one exists. The Company's measurement of the fair value for goodwill is based on an estimate of discounted future cash flows of the reporting unit. The Company performed its most recent annual goodwill impairment test as of October 1, 2013, which resulted in no impairments. | |
Other Intangible Assets | |
Intangible assets are included in "site rental contracts and customer relationship, net" and "other intangible assets, net" on the Company's consolidated balance sheet and predominately consist of the estimated fair value of the following items recorded in conjunction with acquisitions: (1) site rental contracts and customer relationships or (2) below-market leases for land interests under the acquired wireless infrastructure classified as "other intangible assets, net." The site rental contracts and customer relationships intangible assets are comprised of (1) current term of the existing contracts, (2) the expected exercise of the renewal provisions contained within the existing contracts, which automatically occur under contractual provisions, or (3) any associated relationships that are expected to generate value following the expiration of all renewal periods under existing contracts. | |
The useful lives of intangible assets are estimated based on the period over which the intangible asset is expected to benefit the Company, which is calculated on an individual customer basis, considering, among other things, the contractual provisions with the customer and gives consideration to the expected useful life of other assets to which the useful life may relate. Amortization expense for intangible assets is computed using the straight-line method over the estimated useful life of each of the intangible assets. The useful life of the site rental contracts and customer relationships intangible asset is limited by the maximum depreciable life of the tower (20 years), as a result of the interdependency of the tower and site rental contracts and customer relationships. In contrast, the site rental contracts and customer relationships are estimated to provide economic benefits for several decades because of the low rate of customer cancellations and high rate of renewals experienced to date. Thus, while site rental contracts and customer relationships are valued based upon the fair value, which includes assumptions regarding both (1) customers' exercise of optional renewals contained in the acquired contracts and (2) renewals of the acquired contracts past the contractual term including exercisable options, the site rental contracts and customer relationships are amortized over a period not to exceed 20 years as a result of the useful life being limited by the depreciable life of the wireless infrastructure. | |
The carrying value of other intangible assets with finite useful lives will be reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of the assets may not be recoverable. The Company has a dual grouping policy for purposes of determining the unit of account for testing impairment of the site rental contracts and customer relationships intangible assets. First, the Company pools the site rental contracts and customer relationships with the related tower assets into portfolio groups for purposes of determining the unit of account for impairment testing. Second and separately, the Company evaluates the site rental contracts and customer relationships by significant customer or by customer grouping for individually insignificant customers, as appropriate. If the sum of the estimated future cash flows (undiscounted) expected to result from the use or eventual disposition of an asset is less than the carrying amount of the asset, an impairment loss is recognized. Measurement of an impairment loss is based on the fair value of the asset. | |
Deferred Credits | |
Deferred credits are included in "above-market leases and other liabilities" on the Company's consolidated balance sheet and consist of the estimated fair value of above-market leases for land interests under the Company's towers. Above-market leases for land interests are amortized to costs of operations over their respective estimated remaining lease term at the acquisition date. | |
Deferred Financing Costs | |
Third-party costs incurred to obtain financing are deferred and are included in "long-term prepaid rent, deferred financing costs, and other assets, net" on the Company's consolidated balance sheet. | |
Accrued Estimated Property Taxes | |
The accrual for estimated property tax obligations is based on assessments currently in effect or estimates of additional taxes. The Company recognizes the benefit of tax appeals upon ultimate resolution of the appeal. The Company's liability for accrued property taxes is included in "accrued expenses and payables" on the Company's consolidated balance sheet. | |
Revenue Recognition | |
Site rental revenues are recognized on a monthly basis over the fixed, non-cancelable term of the relevant contract (generally ranging from five to 15 years), regardless of whether the payments from the customer are received in equal monthly amounts. The Company's contracts contain fixed escalation clauses (such as fixed dollar or fixed percentage increases) or inflation-based escalation clauses (such as those tied to the consumer price index ("CPI")). If the payment terms call for fixed escalations, prepaid rent, or rent free periods, the revenue is recognized on a straight-line basis over the fixed, non-cancelable term of the agreement. When calculating straight-line rental revenues, the Company considers all fixed elements of tenant contractual escalation provisions, even if such escalation provisions contain a variable element in addition to a minimum. The Company's assets related to straight-line site rental revenues are included in "deferred site rental receivables and other current assets" and "deferred site rental receivables." Amounts billed or received prior to being earned are deferred and reflected in "deferred revenues" on the Company's consolidated balance sheet. | |
Costs of Operations | |
Approximately three-fourths of the Company's site rental cost of operations consists of ground lease expenses, and the remainder includes repairs and maintenance expenses, utilities, property taxes, or insurance. | |
Generally, the ground lease agreements are specific to each site and are for an initial term of five years and are renewable for pre-determined periods. The Company also enters into term easements and ground leases in which it prepays the entire term in advance. Ground lease expense is recognized on a monthly basis, regardless of whether the lease agreement payment terms require the Company to make payments annually, quarterly, monthly, or for the entire term in advance. The Company's ground leases contain fixed escalation clauses (such as fixed dollar or fixed percentage increases) or inflation-based escalation clauses (such as those tied to the CPI). If the payment terms include fixed escalation provisions, the effect of such increases is recognized on a straight-line basis. The Company calculates the straight-line ground lease expense using a time period that equals or exceeds the remaining depreciable life of the wireless infrastructure asset. Further, when a tenant has exercisable renewal options that would compel the Company to exercise existing ground lease renewal options, the Company has straight-lined the ground lease expense over a sufficient portion of such ground lease renewals to coincide with the final termination of the tenant's renewal options. The Company's policy is to record ground lease agreements with affiliates under the same or similar economic terms as the lease agreement for the land that existed prior to the purchase of such land by the affiliate. | |
The Company's non-current liability related to straight-line ground lease expense is included in "deferred ground lease payable" on the Company's consolidated balance sheet. The Company's asset related to prepaid ground leases is included in "prepaid expenses" and "long-term prepaid rent, deferred financing costs and other assets, net" on the Company's consolidated balance sheet. | |
Management Fee | |
The Company is charged a management fee by CCUSA, a wholly-owned indirect subsidiary of CCIC, relating to management services which include those functions reasonably necessary to maintain, market, operate, manage, and administer the sites. The management fee is equal to 7.5% of the Company's revenues, excluding the revenues related to the accounting for leases with fixed escalators as required by the applicable accounting standards. See note 6. | |
Income Taxes | |
CCL is an LLC. Under federal and state income tax laws, regulations, and administrative rulings, single member LLCs are treated as disregarded entities for income tax return filing purposes (unless elected otherwise). Single member LLCs are flow through entities which do not pay income tax at the LLC level. The Company is included in the consolidated CCIC U.S. federal tax return. The Company's provision for income taxes is recorded using a method materially consistent with the separate return approach. | |
During 2013, CCIC completed the steps necessary to qualify to operate as a Real Estate Investment Trust ("REIT") for U.S. federal income tax purposes. CCIC will generally be entitled to a deduction for dividends that it pays and therefore will not be subject to U.S. federal corporate income tax on its net taxable income that is currently distributed to its stockholders. As a REIT, CCIC may still be subject to certain federal, state, local, and foreign taxes on its income and assets, including alternative minimum taxes, taxes on any undistributed income, and state, local, or foreign income, franchise, property, and transfer taxes. In addition, CCIC could in certain circumstances be required to pay an excise or penalty tax, which could be significant in amount, in order to utilize one or more relief provisions under the Code to maintain qualification for taxation as a REIT. The Company is an indirect subsidiary of CCIC and for U.S. federal income tax purposes our assets and operations will be part of the CCIC REIT. In December 2013, the Company de-recognized its previously recorded U.S. federal and state net deferred tax assets and liabilities because the expected recovery or settlement of the related assets and liabilities would not result in a taxable or deductible amount in the future. See notes 8 and 14. | |
The Company accounts for income taxes using an asset and liability approach, which requires the recognition of deferred income tax assets and liabilities for the expected future tax consequences of events that have been recognized in the Company's financial statements or tax returns. Deferred income tax assets and liabilities are determined based on the temporary differences between the financial statement and tax bases of assets and liabilities using enacted tax rates. A valuation allowance is provided on deferred tax asset if it is determined that it is "more likely than not" that the assets will not be realized. | |
The Company records a valuation allowance against deferred tax assets when it is "more likely than not" that some portion or all of the deferred tax asset will not be realized. The Company reviews the recoverability of deferred tax assets each quarter and based upon projections of future taxable income, reversing deferred tax liabilities, or other known events that are expected to affect future taxable income, records a valuation allowance for assets that do not meet the "more likely than not" realization threshold. Valuation allowances may be reversed if related deferred tax assets are deemed realizable based upon changes in facts and circumstances that impact the recoverability of the asset. | |
The Company does not currently maintain a formal tax sharing agreement with CCIC. Net operating losses used by the Company to reduce current taxes payable have resulted in member contributions from CCIC to the extent such attributes were generated by CCIC or other members of the consolidated group. Similarly, net operating losses of the Company used by CCIC or other members of the consolidated group to reduce current taxes payable have been treated as distributions from the Company to CCIC. | |
The Company recognizes a tax position if it is "more likely than not" that it will be sustained upon examination. The tax position is measured at the largest amount that is greater than 50 percent likely of being realized upon ultimate settlement. The Company records penalties and tax-related interest expense as components of the "benefit (provision) for income taxes." As of December 31, 2013, the Company has not recorded any penalties or tax-related interest expenses related to income taxes. | |
Fair Values | |
The Company's assets and liabilities recorded at fair value are categorized based upon a fair value hierarchy that ranks the quality and reliability of the information used to determine fair value. The three levels of the fair value hierarchy are (1) Level 1 - quoted prices (unadjusted) in active and accessible markets, (2) Level 2 - observable prices that are based on inputs not quoted in active markets but corroborated by market data, and (3) Level 3 - unobservable inputs and are not corroborated by market data. The Company evaluates fair value hierarchy level classifications quarterly, and transfers between levels are effective at the end of the quarterly period. | |
The fair value of cash equivalents and restricted cash approximates the carrying value. The Company determines fair value of its debt securities based on indicative quotes (that is non-binding quotes) from brokers that require judgment to interpret market information including implied credit spreads for similar borrowings on recent trades or bid/ask prices or quotes from active markets if applicable. There were no changes since December 31, 2012 in the Company's valuation techniques used to measure fair values. See note 7. | |
Reporting Segments | |
The Company's operations consist of one operating segment. | |
Recent Accounting Pronouncements | |
No accounting pronouncements adopted during the year ended December 31, 2013 had a material impact on the Company's consolidated financial statements. No new accounting pronouncements issued during the year ended December 31, 2013 but not yet adopted are expected to have a material impact on the Company's consolidated financial statements. |
Property_and_Equipment
Property and Equipment | 12 Months Ended | ||||||||||
Dec. 31, 2013 | |||||||||||
Property, Plant and Equipment [Abstract] | ' | ||||||||||
Property and Equipment | ' | ||||||||||
Property and Equipment | |||||||||||
The major classes of property and equipment are as follows: | |||||||||||
Estimated Useful Lives | December 31, | ||||||||||
2013 | 2012 | ||||||||||
Land(a) | — | $ | 74,943 | $ | 75,588 | ||||||
Towers | 1-20 years | 1,567,885 | 1,519,540 | ||||||||
Construction in progress | — | 74,041 | 41,519 | ||||||||
Total gross property and equipment | 1,716,869 | 1,636,647 | |||||||||
Less accumulated depreciation | (569,477 | ) | (490,639 | ) | |||||||
Total property and equipment, net | $ | 1,147,392 | $ | 1,146,008 | |||||||
(a) | Includes land owned in fee and perpetual easements. | ||||||||||
Depreciation expense for the years ended December 31, 2013, 2012, and 2011 was $82.2 million, $80.7 million, and $81.1 million, respectively. As discussed in notes 1 and 2, the Company has certain prepaid capital leases and associated leasehold improvements with Sprint, which have related gross property and equipment and accumulated depreciation of $1.1 billion and $377.0 million, respectively, as of December 31, 2013. |
Intangible_Assets_and_Deferred
Intangible Assets and Deferred Credits | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||
Goodwill and Intangible Assets | ' | |||||||||||||||||||||||
Intangible Assets and Deferred Credits | ' | |||||||||||||||||||||||
Intangible Assets and Deferred Credits | ||||||||||||||||||||||||
The following is a summary of the Company's intangible assets. | ||||||||||||||||||||||||
As of December 31, 2013 | As of December 31, 2012 | |||||||||||||||||||||||
Gross Carrying Value | Accumulated Amortization | Net Book Value | Gross Carrying Value | Accumulated Amortization | Net Book Value | |||||||||||||||||||
Site rental contracts and customer relationships | $ | 2,100,699 | $ | (745,351 | ) | $ | 1,355,348 | $ | 2,100,699 | $ | (632,206 | ) | $ | 1,468,493 | ||||||||||
Other intangible assets | 46,537 | (17,155 | ) | 29,382 | 57,499 | (24,288 | ) | 33,211 | ||||||||||||||||
Total | $ | 2,147,236 | $ | (762,506 | ) | $ | 1,384,730 | $ | 2,158,198 | $ | (656,494 | ) | $ | 1,501,704 | ||||||||||
Amortization expense related to intangible assets is classified as follows on the Company's consolidated statement of operations: | ||||||||||||||||||||||||
For Years Ended December 31, | ||||||||||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||||||||||
Depreciation, amortization and accretion | $ | 113,247 | $ | 106,791 | $ | 108,359 | ||||||||||||||||||
Site rental costs of operations | 2,035 | 2,242 | 2,823 | |||||||||||||||||||||
Total amortization expense | $ | 115,282 | $ | 109,033 | $ | 111,182 | ||||||||||||||||||
The estimated annual amortization expense related to intangible assets (inclusive of those recorded as an increase to "site rental costs of operations") for the years ended December 31, 2014 to 2018 is as follows: | ||||||||||||||||||||||||
Years Ending December 31, | ||||||||||||||||||||||||
2014 | 2015 | 2016 | 2017 | 2018 | ||||||||||||||||||||
Estimated annual amortization | $ | 115,540 | $ | 115,514 | $ | 115,489 | $ | 115,471 | $ | 115,449 | ||||||||||||||
See note 2 for a further discussion of deferred credits related to above-market leases for land interests under the Company's towers recorded in connection with acquisitions. For the years ended December 31, 2013, 2012 and 2011, the Company recorded $2.0 million, $2.2 million and $2.6 million, respectively, as a decrease to "site rental cost of operations." The following is a summary of the Company's above-market leases. | ||||||||||||||||||||||||
As of December 31, 2013 | As of December 31, 2012 | |||||||||||||||||||||||
Gross Carrying Value | Accumulated Amortization | Net Book Value | Gross Carrying Value | Accumulated Amortization | Net Book Value | |||||||||||||||||||
Above-market leases | $ | 43,740 | $ | (17,035 | ) | $ | 26,705 | $ | 44,675 | $ | (15,379 | ) | $ | 29,296 | ||||||||||
The estimated annual amortization expense related to above-market leases for land interests under the Company's towers for the years ended December 31, 2014 to 2018 is as follows: | ||||||||||||||||||||||||
Years Ending December 31, | ||||||||||||||||||||||||
2014 | 2015 | 2016 | 2017 | 2018 | ||||||||||||||||||||
Estimated annual amortization | $ | 1,996 | $ | 1,982 | $ | 1,948 | $ | 1,933 | $ | 1,909 | ||||||||||||||
Debt_and_Other_Obligations
Debt and Other Obligations | 12 Months Ended | ||||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||||
Debt and Other Obligations [Abstract] | ' | ||||||||||||||||||||||||||||||
Debt and Other Obligations | ' | ||||||||||||||||||||||||||||||
Debt and Other Obligations | |||||||||||||||||||||||||||||||
Original | Contractual | Outstanding | Outstanding | Stated | |||||||||||||||||||||||||||
Issue Date | Maturity | Balance as of | Balance as of | Interest Rate | |||||||||||||||||||||||||||
Date | December 31, | December 31, | as of | ||||||||||||||||||||||||||||
2013 | 2012 | December 31, | |||||||||||||||||||||||||||||
2013(a) | |||||||||||||||||||||||||||||||
Bonds - fixed rate: | |||||||||||||||||||||||||||||||
7.75% Secured Notes | Apr. 2009 | May-17 | $ | — | $ | 291,394 | N/A | ||||||||||||||||||||||||
2012 Secured Notes | Dec. 2012 | 2017/2023 | (b) | 1,500,000 | 1,500,000 | 3.4 | % | (b) | |||||||||||||||||||||||
Total Bonds | 1,500,000 | 1,791,394 | |||||||||||||||||||||||||||||
Less: current maturities | — | 291,394 | (c) | ||||||||||||||||||||||||||||
Non-current portion of long-term debt | $ | 1,500,000 | $ | 1,500,000 | |||||||||||||||||||||||||||
____________________ | |||||||||||||||||||||||||||||||
(a) | Represents the weighted-average stated rate. | ||||||||||||||||||||||||||||||
(b) | The 2012 Secured Notes consist of $500 million aggregate principal amount of 2.381% secured notes due 2017 and $1.0 billion aggregate principal amount of 3.849% secured notes due 2023, defined below. | ||||||||||||||||||||||||||||||
(c) | Inclusive of the 7.75% Secured Notes outstanding as of December 31, 2012, the redemption of which was completed in January 2013. | ||||||||||||||||||||||||||||||
2012 Secured Notes | |||||||||||||||||||||||||||||||
On December 24, 2012, CCL and Crown Castle GS III Corp. ("Co-Issuer" and, together with CCL, "Issuers") issued (1) $500.0 million aggregate principal amount of 2.381% senior secured notes due December 2017 ("2.381% Secured Notes") and (2) $1.0 billion aggregate principal amount of 3.849% senior secured notes due April 2023 ("3.849% Secured Notes" and together with the 2.381% Secured Notes, the "2012 Secured Notes"). The 2012 Secured Notes were issued pursuant to an indenture dated as of December 24, 2012 ("Indenture"), by and among the Issuers, the Guarantors (as defined below) and The Bank of New York Mellon Trust Company, N.A., as trustee ("Trustee"). The Issuers and the Guarantors are indirect wholly-owned subsidiaries of CCIC. The Company used the net proceeds from the issuance of the 2012 Secured Notes to (1) repurchase and redeem a portion of the then outstanding 7.75% Secured Notes and (2) distribute cash to CCIC to fund the repurchase and redemption of a portion of CCIC's senior notes. | |||||||||||||||||||||||||||||||
The 2.381% Secured Notes are payable semi-annually in cash in arrears on June 15 and December 15 of each year, beginning on June 15, 2013. The 3.849% Secured Notes are payable semi-annually in cash in arrears on April 15 and October 15 of each year, beginning on April 15, 2013. CCL, at its option, may redeem the 2012 Secured Notes of either series in whole or in part at any time by paying 100% of the principal amount of such series of 2012 Secured Notes, together with accrued and unpaid interest, if any, plus a "make-whole" premium (as defined in the Indenture). | |||||||||||||||||||||||||||||||
The 2012 Secured Notes are guaranteed by the direct and indirect wholly-owned subsidiaries of CCL, other than the Co-Issuer (collectively, "Guarantors"). The 2012 Secured Notes will be paid solely from the cash flows generated from operation of the towers held directly or indirectly by CCL and the Guarantors. | |||||||||||||||||||||||||||||||
Concurrently with the issuance of the 2012 Secured Notes, CCL and certain of its subsidiaries entered into a pledge and security agreement with the Trustee. Pursuant to the terms of such pledge and security agreement, the 2012 Secured Notes are secured on a first-priority basis by a pledge of the equity interests of the Guarantors. | |||||||||||||||||||||||||||||||
The Indenture limits, among other things, the ability of CCL and its subsidiaries to incur indebtedness, incur liens, enter into certain mergers or certain change of control transactions and enter into related party transactions, in each case subject to a number of exceptions and qualifications set forth in the Indenture. | |||||||||||||||||||||||||||||||
Management Agreement. On December 24, 2012, CCL and the Guarantors entered into a management agreement ("Management Agreement") with CCUSA, an indirect wholly-owned subsidiary of CCIC ("Manager"). The Management Agreement replaced the previous management agreement that existed among the parties. Pursuant to the Management Agreement, the Manager will continue to perform, on behalf of CCL and the Guarantors, those functions reasonably necessary to maintain, market, operate, manage, and administer their respective sites. The Management Agreement requires that the Company maintain cash sufficient to operate the business, including sufficient cash to pay expenses for the following month (including any interest payment due during the next month pursuant to the Indenture.) | |||||||||||||||||||||||||||||||
Debt Restrictions. The 2012 Secured Notes do not contain financial maintenance covenants but they do contain restrictive negative covenants, subject to certain exceptions, related to the Company's ability to incur indebtedness, incur liens, enter into certain mergers or change of control transactions, sell or issue equity interests and enter into related party transactions. With respect to the restriction regarding the issuance of debt, the Company may not issue debt other than (1) certain permitted refinancings of the 2012 Secured Notes, (2) unsecured trade payables in the ordinary course of business and financing of equipment, land or other property up to an aggregate of $100.0 million, or (3) unsecured debt or additional notes under the Indenture provided that the Debt to Adjusted Consolidated Cash Flow Ratio (as defined in the Indenture) at the time of incurrence, and after giving effect to such incurrence, would have been no greater than 3.5 to 1. As of December 31, 2013, the Company's Debt to Adjusted Consolidated Cash Flow Ratio is 3.9 to 1, which the Company expects would currently restrict the Company's ability to incur unsecured debt or additional notes. The Company is not restricted in its ability to distribute cash to affiliates or issue dividends to its parent. | |||||||||||||||||||||||||||||||
Contractual Maturities | |||||||||||||||||||||||||||||||
The following are the scheduled contractual maturities of the total debt or other long-term obligations outstanding at December 31, 2013. | |||||||||||||||||||||||||||||||
Years Ending December 31, | |||||||||||||||||||||||||||||||
2014 | 2015 | 2016 | 2017 | 2018 | Thereafter | Total Cash Obligations | Total Debt and Other Obligations Outstanding | ||||||||||||||||||||||||
Scheduled contractual maturities | $ | — | $ | — | $ | — | $ | 500,000 | $ | — | $ | 1,000,000 | $ | 1,500,000 | 1,500,000 | ||||||||||||||||
Previously Outstanding Debt | |||||||||||||||||||||||||||||||
On April 30, 2009, CCL and Crown Castle GS III Corp. issued $1.2 billion aggregate principal amount of 7.75% senior secured notes due 2017 (“7.75% Secured Notes”). The 7.75% Secured Notes were guaranteed by the direct and indirect wholly-owned subsidiaries of CCL, other than the Crown Castle GS III Corp. The 7.75% Secured Notes were secured on a first priority basis by a pledge of the equity interests of the guarantors and by certain other assets of the guarantors. | |||||||||||||||||||||||||||||||
In 2011 and 2012, CCIC had acquired certain of the 7.75% Secured Notes through market purchases. In December 2012, in anticipation of the repurchase and redemption of the 7.75% Secured Notes, the 7.75% Secured Notes held by CCIC were contributed to the Company. Following this non-cash equity contribution, the Company retired these notes. See note 6. | |||||||||||||||||||||||||||||||
Purchases and Redemptions of Long Term Debt | |||||||||||||||||||||||||||||||
On December 11, 2012, the Company commenced a cash tender offer for any and all of the Company's then outstanding 7.75% Secured Notes. In accordance with the terms of the tender offer, the total consideration for each $1,000 principal amount of notes validly tendered on or prior to the expiration date was $1,063.45 (plus accrued and unpaid interest up to, but not including, the settlement date). On December 26, 2012, the Company accepted for purchase approximately $670.6 million aggregate principal amount of the 7.75% Secured Notes validly tendered on or prior to the expiration date. All of the remaining then outstanding 7.75% Secured Notes (approximately $294.4 million aggregate principal amount) were redeemed on January 10, 2013. The repurchase and redemption of the 7.75% Secured Notes was funded by the issuance of the 2012 Secured Notes. | |||||||||||||||||||||||||||||||
The following is a summary of the purchases and redemptions of debt during the years ended December 31, 2013 and 2012. See note 6. | |||||||||||||||||||||||||||||||
Year Ending December 31, 2013 | |||||||||||||||||||||||||||||||
Principal Amount | Cash Paid(a) | Gains (losses)(c) | |||||||||||||||||||||||||||||
7.75% Secured Notes(b) | $ | 294,362 | $ | 312,465 | $ | (18,103 | ) | ||||||||||||||||||||||||
(a) | Exclusive of accrued interest. | ||||||||||||||||||||||||||||||
(b) | The redemption of the 7.75% Secured Notes was funded by the restricted cash released upon refinancing. | ||||||||||||||||||||||||||||||
(c) | The losses relate to cash losses, including with respect to make whole payments. | ||||||||||||||||||||||||||||||
Year Ending December 31, 2012 | |||||||||||||||||||||||||||||||
Principal Amount | Cash Paid(a) | Gains (losses)(b) | |||||||||||||||||||||||||||||
7.75% Secured Notes | $ | 670,557 | $ | 713,305 | $ | (67,210 | ) | ||||||||||||||||||||||||
(a) | Exclusive of accrued interest. | ||||||||||||||||||||||||||||||
(b) | Inclusive of $24.5 million related to the write-off of deferred financing costs and discounts. The remainder relative to cash losses including with respect to make whole payments. | ||||||||||||||||||||||||||||||
Interest Expense and Amortization of Deferred Financing Costs | |||||||||||||||||||||||||||||||
The components of “interest expense and amortization of deferred financing costs” are as follows: | |||||||||||||||||||||||||||||||
Years Ended December 31, | |||||||||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||||||||
Interest expense on debt obligations | $ | 50,824 | $ | 91,881 | $ | 93,000 | |||||||||||||||||||||||||
Amortization of deferred financing costs | 4,583 | 4,730 | 2,271 | ||||||||||||||||||||||||||||
Amortization of adjustments on long-term debt | 2,968 | 7,587 | 3,684 | ||||||||||||||||||||||||||||
Total | $ | 58,375 | $ | 104,198 | $ | 98,955 | |||||||||||||||||||||||||
Related_Party_Transactions_Rel
Related Party Transactions Related Party Transactions (Notes) | 12 Months Ended |
Dec. 31, 2013 | |
Related Party Transactions [Abstract] | ' |
Related Party Transactions | ' |
Related Party Transactions | |
As discussed in note 5, the Company and other subsidiaries of CCL entered into a Management Agreement with CCUSA, which replaced a previous management agreement among the same parties. Pursuant to this Management Agreement, CCUSA has agreed to employ, supervise, and pay at all times a sufficient number of capable employees as may be necessary to perform services in accordance with the operation standards defined in the Management Agreement. CCUSA currently acts as the Manager of the majority of the sites held by subsidiaries of CCIC. The management fee is equal to 7.5% of the Company's "Operating Revenues," as defined in the Management Agreement, which is based on the Company’s reported revenues adjusted to exclude certain items including revenues related to the accounting for leases with fixed escalators. The fee is compensation for those functions reasonably necessary to maintain, market, operate, manage, and administer the sites, other than the operating expenses, which includes but is not limited to real estate and personal property taxes, ground lease and easement payments, and insurance premiums. In addition, in connection with its role as Manager, CCUSA may make certain modifications to the Company's sites. The management fee charged by CCUSA for the years ended December 31, 2013, 2012, and 2011 totaled $40.6 million, $38.7 million, and $36.6 million, respectively. See note 5. | |
In addition, CCUSA may perform installation services on the Company's towers for which the Company is not a party to any agreement and for which no operating results are reflected herein. | |
As part of the CCIC strategy to obtain long-term control of the land under its towers, affiliates of the Company have acquired rights to land interests under the Company's towers. These affiliates then lease the land to the Company. Under such circumstances, the Company's obligation typically continues with the same or similar economic terms as the lease agreement for the land that existed prior to the purchase of such land by the affiliate. As of December 31, 2013, there are approximately 23% of the Company's sites where the land under the tower is owned by an affiliate. Rent expense to affiliates totaled $28.4 million, $24.4 million, and $18.3 million for the years ended December 31, 2013, 2012, and 2011, respectively. Also, the Company receives rent revenue from affiliates for land owned by the Company that affiliates have towers on and pays ground rent expense to affiliates for land owned by affiliates that the Company has towers on. For the years ended December 31, 2013, 2012, and 2011, rent revenue from affiliates totaled $0.6 million, $0.6 million, and $0.3 million, respectively. | |
In 2012, CCIC acquired through market purchases $35.5 million of principal amount of the 7.75% Secured Notes. In December 2012, the 7.75% Secured Notes held by CCIC were contributed to the Company with a face value of $235.1 million. Prior to this non-cash contribution of the 7.75% Secured Notes in December 2012, the 7.75% Secured Notes acquired by CCIC remained outstanding on the Company's consolidated balance sheet. For the years ended December 31, 2012 and 2011, the Company recorded interest expense and amortization of deferred financing costs of approximately $17.2 million and $15.9 million, respectively, on the amount due to CCIC. | |
The Company recorded net equity distributions of $224.0 million, $353.5 million, and $104.2 million for the years ended December 31, 2013, 2012, and 2011, respectively, reflecting net distributions to its parent company, including the contribution of the 7.75% Secured Notes held by CCIC and the distribution of excess cash from the refinancing of the 7.75% Secured Notes. Cash on-hand above the amount that is required by the Management Agreement has and is expected to continue to be distributed to the Company's parent company. See note 8 for a discussion of the equity contribution related to income taxes. |
Fair_Value_Disclosures
Fair Value Disclosures | 12 Months Ended | |||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||
Fair Value Disclosures | ' | |||||||||||||||||
Fair Value Disclosures | ' | |||||||||||||||||
Fair Values | ||||||||||||||||||
The following table shows the estimated fair values of the Company's financial instruments, along with the carrying amounts of the related assets (liabilities). See also note 2. | ||||||||||||||||||
Level in Fair Value Hierarchy | December 31, 2013 | December 31, 2012 | ||||||||||||||||
Carrying | Fair | Carrying | Fair | |||||||||||||||
Amount | Value | Amount | Value | |||||||||||||||
Assets: | ||||||||||||||||||
Cash and cash equivalents | 1 | $ | 31,036 | $ | 31,036 | $ | — | $ | — | |||||||||
Restricted cash | 1 | — | — | 400,493 | 400,493 | |||||||||||||
Liabilities: | ||||||||||||||||||
Debt and other obligations | 2 | 1,500,000 | 1,426,880 | 1,791,394 | 1,840,352 | |||||||||||||
Income_Taxes
Income Taxes | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Income Taxes [Abstract] | ' | |||||||||||
Income Taxes | ' | |||||||||||
Income Taxes | ||||||||||||
CCL is an LLC. Under the federal and state income tax laws, regulations, and administrative rulings, single member LLCs are treated as disregarded entities for income tax return filing purposes (unless elected otherwise). Single member LLCs are flow through entities which do not pay income tax at the LLC level. The Company is included in the consolidated CCIC U.S. federal tax return. | ||||||||||||
During 2013, CCIC completed the steps necessary to qualify to operate as a REIT for U.S. federal income tax purposes and received final approval from its board of directors. See note 14. The Company is an indirect subsidiary of CCIC and for U.S. federal income tax purposes our assets and operations will be part of the CCIC REIT. As a result, in December 2013, the Company de-recognized its previously recorded U.S. federal and state net deferred tax assets and liabilities because the expected recovery or settlement of the related assets and liabilities would not result in a taxable or deductible amount in the future. As a result of the de-recognition of the aforementioned deferred tax assets and liabilities, the Company also recorded a corresponding net non-cash income tax benefit of $391.7 million. The benefit (provision) for income taxes consists of the following: | ||||||||||||
Years Ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Current: | ||||||||||||
Federal | $ | — | $ | — | $ | — | ||||||
State | (6,741 | ) | (1,347 | ) | (1,420 | ) | ||||||
Deferred: | ||||||||||||
Federal | 361,082 | (3,487 | ) | (9,704 | ) | |||||||
State | (5,898 | ) | (4,702 | ) | 198 | |||||||
Total tax benefit (provision) | $ | 348,443 | $ | (9,536 | ) | $ | (10,926 | ) | ||||
A reconciliation between the benefit (provision) for income taxes and the amount computed by applying the federal statutory income tax rate to the loss before income taxes is as follows: | ||||||||||||
Years Ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Benefit (provision) for income taxes at statutory rate | $ | (36,881 | ) | $ | (5,838 | ) | $ | (10,217 | ) | |||
Nondeductible expenses and other | (6 | ) | (4 | ) | (3 | ) | ||||||
State tax benefit (provision), net of federal | (6,140 | ) | (3,932 | ) | (794 | ) | ||||||
Tax adjustment related to REIT conversion | 391,688 | — | — | |||||||||
Other | (218 | ) | 238 | 88 | ||||||||
$ | 348,443 | $ | (9,536 | ) | $ | (10,926 | ) | |||||
The components of the net deferred income tax assets and liabilities are as follows: | ||||||||||||
December 31, | ||||||||||||
2013 | 2012 | |||||||||||
Deferred income tax liabilities: | ||||||||||||
Intangible assets | $ | — | $ | 511,649 | ||||||||
Property and equipment | — | 237,630 | ||||||||||
Deferred site rental receivables | — | 88,351 | ||||||||||
Total deferred income tax liabilities | — | 837,630 | ||||||||||
Deferred income tax assets: | ||||||||||||
Net operating loss carryforwards | — | 88,665 | ||||||||||
Deferred ground lease payable | — | 27,751 | ||||||||||
Accrued liabilities | — | 5,881 | ||||||||||
Receivables allowance | — | 585 | ||||||||||
Prepaid lease | — | 332,568 | ||||||||||
Valuation allowances | — | — | ||||||||||
Total deferred income tax assets, net | — | 455,450 | ||||||||||
Net deferred income tax asset (liabilities) | $ | — | $ | (382,180 | ) | |||||||
During 2013, 2012, and 2011, the Company recorded non-cash equity contributions from CCIC of $27.0 million, $8.9 million, and $22.9 million, respectively, primarily related to the use by the Company of net operating losses from other members of CCIC's federal consolidated group. | ||||||||||||
As of December 31, 2013, the total amount of unrecognized tax benefits that would impact the effective tax rate, if recognized, was $6.0 million, of which, $1.0 million, $1.0 million and $1.1 million were recorded in 2013, 2012, and 2011, respectively. | ||||||||||||
From time to time, the Company is subject to examinations by various tax authorities in jurisdictions in which the Company has business operations. The Company regularly assesses the likelihood of additional assessments in each of the tax jurisdictions resulting from these examinations. At this time, CCIC is not subject to an IRS examination. |
Commitments_and_Contingencies
Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2013 | |
Commitments and Contingencies [Abstract] | ' |
Commitments and Contingencies | ' |
Commitments and Contingencies | |
The Company is involved in various claims, lawsuits, or proceedings arising in the ordinary course of business. While there are uncertainties inherent in the ultimate outcome of such matters, and it is impossible to presently determine the ultimate costs or losses that may be incurred, if any, management believes the resolution of such uncertainties and the incurrence of such costs should not have a material adverse effect on the Company's consolidated financial position or results of operations. See note 10 for a discussion of the operating lease commitments. In addition, see note 1 for a discussion of the Company's option to purchase approximately 68% of the Company's towers at the end of their respective lease terms. Such purchase option is not a firm commitment and is not required. | |
Asset Retirement Obligations | |
Pursuant to its ground lease and easement agreements, the Company has the obligation to perform certain asset retirement activities, including requirements upon lease or easement termination to remove wireless infrastructure or remediate the land upon which its wireless infrastructure resides. Accretion expense related to liabilities for retirement obligations amounted to $1.8 million, $1.7 million, and $1.6 million for the years ended December 31, 2013, 2012, and 2011, respectively. As of December 31, 2013 and 2012, liabilities for retirement obligations amounted to $23.0 million and $21.5 million, respectively, representing the net present value of the estimated expected future cash outlay. As of December 31, 2013, the estimated undiscounted future cash outlay for asset retirement obligations was approximately $127 million. See note 2. | |
Property Tax Commitments | |
The Company is obligated to pay, or reimburse others for, property taxes related to the Company's wireless infrastructure pursuant to operating leases with landlords or other contractual agreements. The property taxes for the year ended December 31, 2013 and future periods are contingent upon new assessments of the wireless infrastructure and the Company's appeals of assessments. | |
The Company has an obligation to reimburse Sprint for property taxes Sprint pays on the Company's behalf related to certain towers the Company leases from Sprint. The Company paid $13.2 million, $12.8 million, and $12.4 million for the years ended December 31, 2013, 2012, and 2011, respectively. The amount per tower to be paid to Sprint increases by 3% each successive year through 2037, the expiration of the lease term. |
Leases
Leases | 12 Months Ended | |||||||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||||||
Leases [Abstract] | ' | |||||||||||||||||||||||||||
Leases | ' | |||||||||||||||||||||||||||
Leases | ||||||||||||||||||||||||||||
Tenant Contracts | ||||||||||||||||||||||||||||
The following table is a summary of the rental cash payments owed to the Company, as a lessor, by tenants pursuant to contractual agreements in effect as of December 31, 2013. Generally, the Company's contracts with its tenants provide for (1) annual escalations, (2) multiple renewal periods at the tenant's option, and (3) only limited termination rights at the applicable tenant's option through the current term. As of December 31, 2013, the weighted-average remaining term (calculated by weighting the remaining term for each lease by the related site rental revenue) of tenant contracts is approximately seven years, exclusive of renewals at the tenant's option. The tenants' rental payments included in the table below are through the current terms with a maximum current term of 20 years and do not assume exercise of tenant renewal options. | ||||||||||||||||||||||||||||
Years Ending December 31, | ||||||||||||||||||||||||||||
2014 | 2015 | 2016 | 2017 | 2018 | Thereafter | Total | ||||||||||||||||||||||
Tenant contracts | $ | 506,652 | $ | 513,557 | $ | 505,689 | $ | 494,447 | $ | 484,414 | $ | 2,223,581 | $ | 4,728,340 | ||||||||||||||
Operating Leases | ||||||||||||||||||||||||||||
The following table is a summary of rental cash payments owed by the Company, as lessee, to landlords pursuant to contractual agreements in effect as of December 31, 2013. The Company is obligated under non-cancelable operating contracts for land interests under approximately nine-tenths of its sites. The majority of these lease agreements have (1) certain termination rights that provide for cancellation after a notice period, (2) multiple renewal options at the Company's option, and (3) annual escalations. Lease agreements may also contain provisions for a contingent payment based on revenues or the gross margin derived from the tower located on the leased land interest. Approximately nine-tenths and one-half of the Company's site rental gross margins for the year ended December 31, 2013 are derived from towers where the land interest under the tower is owned or leased with final expiration dates of greater than ten and 20 years, respectively, including renewals at the Company's option. The operating lease payments included in the table below include payments for certain renewal periods at the Company's option up to the estimated tower useful life of 20 years and an estimate of contingent payments based on revenues and gross margins derived from existing tenant leases. See also note 6. | ||||||||||||||||||||||||||||
Years Ending December 31, | ||||||||||||||||||||||||||||
2014 | 2015 | 2016 | 2017 | 2018 | Thereafter | Total | ||||||||||||||||||||||
Operating leases | $ | 125,913 | $ | 127,639 | $ | 129,583 | $ | 131,198 | $ | 132,370 | $ | 1,677,978 | $ | 2,324,681 | ||||||||||||||
Rental expense from operating leases was $140.3 million, $136.7 million, and $133.7 million for the years ended December 31, 2013, 2012, and 2011, respectively. The rental expense was inclusive of contingent payments based on revenues or gross margin derived from the tower located on the leased land of $28.8 million, $28.4 million, and $28.8 million for the years ended December 31, 2013, 2012, and 2011, respectively. |
Concentration_of_Credit_Risk
Concentration of Credit Risk | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Risks and Uncertainties [Abstract] | ' | ||||||||
Concentration of Credit Risk | ' | ||||||||
Concentration of Credit Risk | |||||||||
Financial instruments that potentially subject the Company to concentrations of credit risk are primarily cash and cash equivalents and trade receivables. The Company mitigates its risk with respect to cash and cash equivalents by maintaining such deposits at high credit quality financial institutions and monitoring the credit ratings of those institutions. See note 2. | |||||||||
The Company derives all of its revenues from customers in the wireless telecommunications industry. The Company also has a concentration in its volume of business with Sprint, AT&T, T-Mobile, and Verizon that accounts for a significant portion of the Company's revenues, receivables, and deferred site rental receivables. The Company mitigates its concentrations of credit risk with respect to trade receivables by actively monitoring the creditworthiness of its customers, the use of customer contracts with contractually determinable payment terms and proactive management of past due balances. | |||||||||
Major Customers | |||||||||
The following table summarizes the percentage of the Company's revenue for its largest customers, including those customers accounting for more than 10% of the Company's revenues, after giving effect to T-Mobile's acquisition of MetroPCS (completed in April 2013), Sprint's acquisition of Clearwire (completed in July 2013), and AT&T's pending acquisition of Leap Wireless. | |||||||||
Years Ended December 31, | |||||||||
2013 | 2012 | 2011 | |||||||
Sprint | 42 | % | (a) | 43 | % | 39 | % | ||
AT&T | 20 | % | (b) | 19 | % | 21 | % | ||
T-Mobile | 17 | % | (c) | 15 | % | 15 | % | ||
Verizon Wireless | 10 | % | 9 | % | 10 | % | |||
Total | 89 | % | 86 | % | 85 | % | |||
(a) | For the year ended December 31, 2013, Sprint and Clearwire accounted for 38% and 4%, respectively, of site rental revenues. As of December 31, 2013, Sprint and Clearwire are co-residents on approximately 16% of the Company's sites. The weighted-average remaining term on tenant contracts related to these sites with Sprint and Clearwire is approximately seven years and three years, respectively. Revenue from Clearwire on these sites represented approximately 4% of site rental revenues for the year ended December 31, 2013. | ||||||||
(b) | For the year ended December 31, 2013, AT&T and Leap Wireless accounted for 16% and 4%, respectively, of site rental revenues. As of December 31, 2013, AT&T and Leap Wireless are co-residents on approximately 4% of the Company's sites. The weighted-average remaining term on tower tenant contracts related to these sites with AT&T and Leap Wireless is approximately 10 years and four years, respectively. Revenue from Leap Wireless on these sites represented approximately 1% of site rental revenues for the year ended December 31, 2013. | ||||||||
(c) | For the year ended December 31, 2013, T-Mobile and MetroPCS accounted for 14% and 3%, respectively, of site rental revenues. As of December 31, 2013, T-Mobile and MetroPCS are co-residents on approximately 5% of the Company's sites. The weighted-average remaining term on tower tenant contracts related to these sites with T-Mobile and MetroPCS is approximately nine years and five years, respectively. Revenue from MetroPCS on these sites represented approximately 2% of site rental revenues for the year ended December 31, 2013. |
Supplemental_Cash_Flow_Informa
Supplemental Cash Flow Information | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Supplemental Cash Flow Elements [Abstract] | ' | |||||||||||
Supplemental Cash Flow Information | ' | |||||||||||
Supplemental Cash Flow Information | ||||||||||||
The following table is a summary of the supplemental cash flow information during the years ended December 31, 2013, 2012, and 2011. | ||||||||||||
For Years Ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Supplemental disclosure of cash flow information: | ||||||||||||
Interest paid (inclusive of payments to related parties) | $ | 47,091 | $ | 102,459 | $ | 93,000 | ||||||
Income taxes paid | — | — | — | |||||||||
Supplemental disclosure of non-cash investing and financing activities: | ||||||||||||
Non-cash equity contribution (distribution)—income taxes (note 8) | 26,995 | 8,858 | 22,904 | |||||||||
Contribution of 7.75% Secured Notes from affiliate (note 6) | — | 235,081 | — | |||||||||
Equity contribution (distribution) of amount due to affiliates (note 6) | (251,013 | ) | (597,445 | ) | (127,087 | ) |
Guarantor_Subsidiaries_Notes
Guarantor Subsidiaries (Notes) | 12 Months Ended |
Dec. 31, 2013 | |
Guarantees [Abstract] | ' |
Guarantor Subsidiaries | ' |
Guarantor Subsidiaries | |
CCL has no independent assets or operations. The 2012 Secured Notes are guaranteed by all subsidiaries of CCL, each of which is a 100% wholly-owned subsidiary of CCL, other than Crown Castle GS III Corp., which is a co-issuer of the 2012 Secured Notes and a 100% wholly-owned finance subsidiary. Such guarantees are full and unconditional and joint and several. Subject to the provisions of the Indenture, a guarantor may be released and relieved of its obligations under its guarantee under certain circumstances including: (1) in the event of any sale or other disposition of all or substantially all of the assets of any guarantor, by way of merger, consolidation or otherwise to a person that is not (either before or after giving effect to such transaction) CCL or a subsidiary of CCL, (2) in the event of any sale or other disposition of all of the capital stock of any guarantor, to a person that is not (either before or after giving effect to such transaction) CCL or a subsidiary of CCL, (3) upon CCL's exercise of legal defeasance in accordance with the relevant provisions of the Indenture, or (4) upon the discharge of the Indenture in accordance with its terms. |
Subsequent_Events
Subsequent Events | 12 Months Ended |
Dec. 31, 2013 | |
Subsequent Events [Abstract] | ' |
Subsequent Events | ' |
Subsequent Events | |
CCIC REIT Election | |
Effective January 1, 2014, CCIC commenced operating as a REIT for U.S. federal income tax purposes. The Company is an indirect subsidiary of CCIC and for U.S. federal income tax purposes our assets and operations will be part of the CCIC REIT. See notes 2 and 8 for additional information concerning CCIC's REIT election. |
Schedule_II_Valuation_and_Qual
Schedule II - Valuation and Qualifying Accounts | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||
Valuation and Qualifying Accounts [Abstract] | ' | |||||||||||||||||||
Schedule II - Valuation and Qualifying Accounts Disclosure [Text Block] | ' | |||||||||||||||||||
CC HOLDINGS GS V LLC | ||||||||||||||||||||
SCHEDULE II — VALUATION AND QUALIFYING ACCOUNTS | ||||||||||||||||||||
YEARS ENDED DECEMBER 31, 2013, 2012 AND 2011 | ||||||||||||||||||||
(In thousands of dollars) | ||||||||||||||||||||
Additions | Deletions | |||||||||||||||||||
Balance at | Charged to | Credited to | Written Off | Balance at | ||||||||||||||||
Beginning | Operations | Operations | End of | |||||||||||||||||
of Year | Year | |||||||||||||||||||
Allowance for Doubtful Accounts Receivable: | ||||||||||||||||||||
2013 | $ | 1,507 | $ | 268 | $ | — | $ | (399 | ) | $ | 1,376 | |||||||||
2012 | $ | 1,605 | $ | 413 | $ | — | $ | (511 | ) | $ | 1,507 | |||||||||
2011 | $ | 2,032 | $ | 697 | $ | — | $ | (1,124 | ) | $ | 1,605 | |||||||||
Summary_of_Significant_Account1
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2013 | |
Summary of Significant Accounting Policies [Abstract] | ' |
Cash Equivalents | ' |
Cash Equivalents | |
Cash equivalents consist of highly liquid investments with original maturities of three months or less and is inclusive of cash held pursuant to the Management Agreement. | |
Restricted Cash | ' |
Restricted Cash | |
As of December 31, 2012, restricted cash represented the cash held in reserve by the indenture trustees or otherwise restricted pursuant to the indenture governing the previously outstanding 7.75% Secured Notes (as defined in note 5). The Company classified the increases and decreases in restricted cash as (1) cash provided by financing activities for cash held by the indenture trustee based on consideration of the terms of the 7.75% Secured Notes, which was a critical feature of the 7.75% Secured Notes based on the indenture trustee's ability to utilize the restricted cash for payment of various expenses including debt service, although the cash flows have aspects of both financing activities and operating activities or (2) cash provided by operating activities for the other remaining restricted cash. Restricted cash increased cash flow from operating activities by $12.1 million for the year ended December 31, 2013 and decreased cash flow from operating activities by $5.6 million and $5.0 million for the years ended December 31, 2012 and 2011, respectively. As of December 31, 2012, restricted cash included $316.6 million comprised of the cash held by the trustee to redeem all of the then outstanding 7.75% Secured Notes as discussed in note 5. Following the redemption of the 7.75% Secured Notes in January 2013, all of the remaining restricted cash was released to the Company. | |
Receivables Allowance | ' |
Receivables Allowance | |
An allowance for doubtful accounts is recorded as an offset to accounts receivable. The Company uses judgment in estimating this allowance and considers historical collections, current credit status, or contractual provisions. Additions to the allowance for doubtful accounts are charged to “costs of operations,” and deductions from the allowance are recorded when specific accounts receivable are written off as uncollectible. | |
Lease, Policy | ' |
Lease Accounting | |
General. The Company classifies its leases at inception as either operating leases or capital leases. A lease is classified as a capital lease if at least one of the following criteria are met, subject to certain exceptions noted below: (1) the lease transfers ownership of the leased assets to the lessee, (2) there is a bargain purchase option, (3) the lease term is equal to 75% or more of the economic life of the leased assets or (4) the present value of the minimum lease payments equals or exceeds 90% of the fair value of the leased assets. | |
Lessee. Leases for land are evaluated for capital lease treatment if at least one of the first two criteria mentioned in the immediately preceding paragraph is present relating to the leased assets. When the Company, as lessee, classifies a lease as a capital lease, it records an asset in an amount equal to the present value of the minimum lease payments under the lease at the beginning of the lease term. Applicable operating leases are recognized on a straight-line basis as discussed under "Costs of Operations" below. | |
Lessor. If the Company is the lessor of leased property that is part of a larger whole (including with respect to a portion of space on a tower) and for which fair value is not objectively determinable, then such lease is accounted for as an operating lease. As applicable, operating leases are recognized on a straight-line basis as discussed under "Revenue Recognition." | |
Property and Equipment | ' |
Property and Equipment | |
Property and equipment is stated at cost, net of accumulated depreciation. Property and equipment includes land owned in fee and perpetual easements for land which have no definite life. When the Company purchases fee ownership or perpetual easements for the land previously subject to ground lease, the Company reduces the value recorded as land by the amount of any associated deferred ground lease payable or unamortized above-market leases. Depreciation is computed utilizing the straight-line method at rates based upon the estimated useful lives of the various classes of assets. Depreciation of wireless infrastructure is generally computed with a useful life equal to the shorter of 20 years or the term of the underlying ground lease (including optional renewal periods). Additions, renewals, or improvements are capitalized, while maintenance and repairs are expensed. The carrying value of property and equipment will be reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of the assets may not be recoverable. | |
Abandonments and write-offs of property and equipment are recorded to "asset write-down charges" on the Company's consolidated statement of operations and were $3.4 million, $3.4 million, and $7.4 million for the years ended December 31, 2013, 2012, and 2011, respectively. | |
Asset Retirement Obligations | ' |
Asset Retirement Obligations | |
Pursuant to its ground lease and easement agreements, the Company records obligations to perform asset retirement activities, including requirements to remove wireless infrastructure or remediate the land upon which the Company's wireless infrastructure resides. With respect to the Sprint Sites, the Company does not have retirement obligations to the extent such retirement would occur beyond the period for which it has a lease term. Asset retirement obligations are included in " above-market leases and other liabilities" on the Company's consolidated balance sheet. The liability accretes as a result of the passage of time and the related accretion expense is included in "depreciation, amortization, and accretion" expense on the Company's consolidated statement of operations. The associated asset retirement costs are capitalized as an additional carrying amount of the related long-lived asset and depreciated over the useful life of such asset. | |
Goodwill | ' |
Goodwill | |
Goodwill represents the excess of the purchase price for an acquired business over the allocated value of the related net assets. The Company tests goodwill for impairment on an annual basis, regardless of whether adverse events or changes in circumstances have occurred. The annual test begins with goodwill and all intangible assets being allocated to applicable reporting units. The Company then performs a qualitative assessment to determine whether it is "more likely than not" that the fair value of the reporting units is less than its carrying amount. If it is concluded that it is "more likely than not" that the fair value of a reporting unit is less than its carrying amount, it is necessary to perform the two-step goodwill impairment test. The two-step goodwill impairment test begins with an estimation of fair value of the reporting unit using an income approach, which looks to the present value of expected future cash flows. The first step, commonly referred to as a “step-one impairment test,” is a screen for potential impairment while the second step measures the amount of any impairment if there is an indication from the first step that one exists. The Company's measurement of the fair value for goodwill is based on an estimate of discounted future cash flows of the reporting unit. The Company performed its most recent annual goodwill impairment test as of October 1, 2013, which resulted in no impairments. | |
Other Intangible Assets | ' |
Other Intangible Assets | |
Intangible assets are included in "site rental contracts and customer relationship, net" and "other intangible assets, net" on the Company's consolidated balance sheet and predominately consist of the estimated fair value of the following items recorded in conjunction with acquisitions: (1) site rental contracts and customer relationships or (2) below-market leases for land interests under the acquired wireless infrastructure classified as "other intangible assets, net." The site rental contracts and customer relationships intangible assets are comprised of (1) current term of the existing contracts, (2) the expected exercise of the renewal provisions contained within the existing contracts, which automatically occur under contractual provisions, or (3) any associated relationships that are expected to generate value following the expiration of all renewal periods under existing contracts. | |
The useful lives of intangible assets are estimated based on the period over which the intangible asset is expected to benefit the Company, which is calculated on an individual customer basis, considering, among other things, the contractual provisions with the customer and gives consideration to the expected useful life of other assets to which the useful life may relate. Amortization expense for intangible assets is computed using the straight-line method over the estimated useful life of each of the intangible assets. The useful life of the site rental contracts and customer relationships intangible asset is limited by the maximum depreciable life of the tower (20 years), as a result of the interdependency of the tower and site rental contracts and customer relationships. In contrast, the site rental contracts and customer relationships are estimated to provide economic benefits for several decades because of the low rate of customer cancellations and high rate of renewals experienced to date. Thus, while site rental contracts and customer relationships are valued based upon the fair value, which includes assumptions regarding both (1) customers' exercise of optional renewals contained in the acquired contracts and (2) renewals of the acquired contracts past the contractual term including exercisable options, the site rental contracts and customer relationships are amortized over a period not to exceed 20 years as a result of the useful life being limited by the depreciable life of the wireless infrastructure. | |
The carrying value of other intangible assets with finite useful lives will be reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of the assets may not be recoverable. The Company has a dual grouping policy for purposes of determining the unit of account for testing impairment of the site rental contracts and customer relationships intangible assets. First, the Company pools the site rental contracts and customer relationships with the related tower assets into portfolio groups for purposes of determining the unit of account for impairment testing. Second and separately, the Company evaluates the site rental contracts and customer relationships by significant customer or by customer grouping for individually insignificant customers, as appropriate. If the sum of the estimated future cash flows (undiscounted) expected to result from the use or eventual disposition of an asset is less than the carrying amount of the asset, an impairment loss is recognized. Measurement of an impairment loss is based on the fair value of the asset. | |
Deferred Credits | ' |
Deferred Credits | |
Deferred credits are included in "above-market leases and other liabilities" on the Company's consolidated balance sheet and consist of the estimated fair value of above-market leases for land interests under the Company's towers. Above-market leases for land interests are amortized to costs of operations over their respective estimated remaining lease term at the acquisition date. | |
Deferred Financing Costs | ' |
Deferred Financing Costs | |
Third-party costs incurred to obtain financing are deferred and are included in "long-term prepaid rent, deferred financing costs, and other assets, net" on the Company's consolidated balance sheet. | |
Accrued Estimated Property Taxes | ' |
Accrued Estimated Property Taxes | |
The accrual for estimated property tax obligations is based on assessments currently in effect or estimates of additional taxes. The Company recognizes the benefit of tax appeals upon ultimate resolution of the appeal. The Company's liability for accrued property taxes is included in "accrued expenses and payables" on the Company's consolidated balance sheet. | |
Revenue Recognition | ' |
Revenue Recognition | |
Site rental revenues are recognized on a monthly basis over the fixed, non-cancelable term of the relevant contract (generally ranging from five to 15 years), regardless of whether the payments from the customer are received in equal monthly amounts. The Company's contracts contain fixed escalation clauses (such as fixed dollar or fixed percentage increases) or inflation-based escalation clauses (such as those tied to the consumer price index ("CPI")). If the payment terms call for fixed escalations, prepaid rent, or rent free periods, the revenue is recognized on a straight-line basis over the fixed, non-cancelable term of the agreement. When calculating straight-line rental revenues, the Company considers all fixed elements of tenant contractual escalation provisions, even if such escalation provisions contain a variable element in addition to a minimum. The Company's assets related to straight-line site rental revenues are included in "deferred site rental receivables and other current assets" and "deferred site rental receivables." Amounts billed or received prior to being earned are deferred and reflected in "deferred revenues" on the Company's consolidated balance sheet. | |
Cost of Operations | ' |
Costs of Operations | |
Approximately three-fourths of the Company's site rental cost of operations consists of ground lease expenses, and the remainder includes repairs and maintenance expenses, utilities, property taxes, or insurance. | |
Generally, the ground lease agreements are specific to each site and are for an initial term of five years and are renewable for pre-determined periods. The Company also enters into term easements and ground leases in which it prepays the entire term in advance. Ground lease expense is recognized on a monthly basis, regardless of whether the lease agreement payment terms require the Company to make payments annually, quarterly, monthly, or for the entire term in advance. The Company's ground leases contain fixed escalation clauses (such as fixed dollar or fixed percentage increases) or inflation-based escalation clauses (such as those tied to the CPI). If the payment terms include fixed escalation provisions, the effect of such increases is recognized on a straight-line basis. The Company calculates the straight-line ground lease expense using a time period that equals or exceeds the remaining depreciable life of the wireless infrastructure asset. Further, when a tenant has exercisable renewal options that would compel the Company to exercise existing ground lease renewal options, the Company has straight-lined the ground lease expense over a sufficient portion of such ground lease renewals to coincide with the final termination of the tenant's renewal options. The Company's policy is to record ground lease agreements with affiliates under the same or similar economic terms as the lease agreement for the land that existed prior to the purchase of such land by the affiliate. | |
The Company's non-current liability related to straight-line ground lease expense is included in "deferred ground lease payable" on the Company's consolidated balance sheet. The Company's asset related to prepaid ground leases is included in "prepaid expenses" and "long-term prepaid rent, deferred financing costs and other assets, net" on the Company's consolidated balance sheet. | |
Management Fee | ' |
Management Fee | |
The Company is charged a management fee by CCUSA, a wholly-owned indirect subsidiary of CCIC, relating to management services which include those functions reasonably necessary to maintain, market, operate, manage, and administer the sites. The management fee is equal to 7.5% of the Company's revenues, excluding the revenues related to the accounting for leases with fixed escalators as required by the applicable accounting standards. See note 6. | |
Income Taxes | ' |
Income Taxes | |
CCL is an LLC. Under federal and state income tax laws, regulations, and administrative rulings, single member LLCs are treated as disregarded entities for income tax return filing purposes (unless elected otherwise). Single member LLCs are flow through entities which do not pay income tax at the LLC level. The Company is included in the consolidated CCIC U.S. federal tax return. The Company's provision for income taxes is recorded using a method materially consistent with the separate return approach. | |
During 2013, CCIC completed the steps necessary to qualify to operate as a Real Estate Investment Trust ("REIT") for U.S. federal income tax purposes. CCIC will generally be entitled to a deduction for dividends that it pays and therefore will not be subject to U.S. federal corporate income tax on its net taxable income that is currently distributed to its stockholders. As a REIT, CCIC may still be subject to certain federal, state, local, and foreign taxes on its income and assets, including alternative minimum taxes, taxes on any undistributed income, and state, local, or foreign income, franchise, property, and transfer taxes. In addition, CCIC could in certain circumstances be required to pay an excise or penalty tax, which could be significant in amount, in order to utilize one or more relief provisions under the Code to maintain qualification for taxation as a REIT. The Company is an indirect subsidiary of CCIC and for U.S. federal income tax purposes our assets and operations will be part of the CCIC REIT. In December 2013, the Company de-recognized its previously recorded U.S. federal and state net deferred tax assets and liabilities because the expected recovery or settlement of the related assets and liabilities would not result in a taxable or deductible amount in the future. See notes 8 and 14. | |
The Company accounts for income taxes using an asset and liability approach, which requires the recognition of deferred income tax assets and liabilities for the expected future tax consequences of events that have been recognized in the Company's financial statements or tax returns. Deferred income tax assets and liabilities are determined based on the temporary differences between the financial statement and tax bases of assets and liabilities using enacted tax rates. A valuation allowance is provided on deferred tax asset if it is determined that it is "more likely than not" that the assets will not be realized. | |
The Company records a valuation allowance against deferred tax assets when it is "more likely than not" that some portion or all of the deferred tax asset will not be realized. The Company reviews the recoverability of deferred tax assets each quarter and based upon projections of future taxable income, reversing deferred tax liabilities, or other known events that are expected to affect future taxable income, records a valuation allowance for assets that do not meet the "more likely than not" realization threshold. Valuation allowances may be reversed if related deferred tax assets are deemed realizable based upon changes in facts and circumstances that impact the recoverability of the asset. | |
The Company does not currently maintain a formal tax sharing agreement with CCIC. Net operating losses used by the Company to reduce current taxes payable have resulted in member contributions from CCIC to the extent such attributes were generated by CCIC or other members of the consolidated group. Similarly, net operating losses of the Company used by CCIC or other members of the consolidated group to reduce current taxes payable have been treated as distributions from the Company to CCIC. | |
The Company recognizes a tax position if it is "more likely than not" that it will be sustained upon examination. The tax position is measured at the largest amount that is greater than 50 percent likely of being realized upon ultimate settlement. The Company records penalties and tax-related interest expense as components of the "benefit (provision) for income taxes." As of December 31, 2013, the Company has not recorded any penalties or tax-related interest expenses related to income taxes. | |
Fair Values | ' |
Fair Values | |
The Company's assets and liabilities recorded at fair value are categorized based upon a fair value hierarchy that ranks the quality and reliability of the information used to determine fair value. The three levels of the fair value hierarchy are (1) Level 1 - quoted prices (unadjusted) in active and accessible markets, (2) Level 2 - observable prices that are based on inputs not quoted in active markets but corroborated by market data, and (3) Level 3 - unobservable inputs and are not corroborated by market data. The Company evaluates fair value hierarchy level classifications quarterly, and transfers between levels are effective at the end of the quarterly period. | |
The fair value of cash equivalents and restricted cash approximates the carrying value. The Company determines fair value of its debt securities based on indicative quotes (that is non-binding quotes) from brokers that require judgment to interpret market information including implied credit spreads for similar borrowings on recent trades or bid/ask prices or quotes from active markets if applicable. There were no changes since December 31, 2012 in the Company's valuation techniques used to measure fair values. See note 7. | |
Reporting Segments | ' |
Reporting Segments | |
The Company's operations consist of one operating segment. | |
Recent Accounting Pronouncements | ' |
Recent Accounting Pronouncements | |
No accounting pronouncements adopted during the year ended December 31, 2013 had a material impact on the Company's consolidated financial statements. No new accounting pronouncements issued during the year ended December 31, 2013 but not yet adopted are expected to have a material impact on the Company's consolidated financial statements. |
Property_and_Equipment_Tables
Property and Equipment (Tables) | 12 Months Ended | ||||||||||
Dec. 31, 2013 | |||||||||||
Property, Plant and Equipment [Abstract] | ' | ||||||||||
Major Classes of Property and Equipment | ' | ||||||||||
The major classes of property and equipment are as follows: | |||||||||||
Estimated Useful Lives | December 31, | ||||||||||
2013 | 2012 | ||||||||||
Land(a) | — | $ | 74,943 | $ | 75,588 | ||||||
Towers | 1-20 years | 1,567,885 | 1,519,540 | ||||||||
Construction in progress | — | 74,041 | 41,519 | ||||||||
Total gross property and equipment | 1,716,869 | 1,636,647 | |||||||||
Less accumulated depreciation | (569,477 | ) | (490,639 | ) | |||||||
Total property and equipment, net | $ | 1,147,392 | $ | 1,146,008 | |||||||
(a) | Includes land owned in fee and perpetual easements. |
Intangible_Assets_and_Deferred1
Intangible Assets and Deferred Credits (Tables) | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||
Finite-Lived Intangible Assets [Line Items] | ' | |||||||||||||||||||||||
Intangible Assets | ' | |||||||||||||||||||||||
The following is a summary of the Company's intangible assets. | ||||||||||||||||||||||||
As of December 31, 2013 | As of December 31, 2012 | |||||||||||||||||||||||
Gross Carrying Value | Accumulated Amortization | Net Book Value | Gross Carrying Value | Accumulated Amortization | Net Book Value | |||||||||||||||||||
Site rental contracts and customer relationships | $ | 2,100,699 | $ | (745,351 | ) | $ | 1,355,348 | $ | 2,100,699 | $ | (632,206 | ) | $ | 1,468,493 | ||||||||||
Other intangible assets | 46,537 | (17,155 | ) | 29,382 | 57,499 | (24,288 | ) | 33,211 | ||||||||||||||||
Total | $ | 2,147,236 | $ | (762,506 | ) | $ | 1,384,730 | $ | 2,158,198 | $ | (656,494 | ) | $ | 1,501,704 | ||||||||||
Schedule of Amortization Expense | ' | |||||||||||||||||||||||
Amortization expense related to intangible assets is classified as follows on the Company's consolidated statement of operations: | ||||||||||||||||||||||||
For Years Ended December 31, | ||||||||||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||||||||||
Depreciation, amortization and accretion | $ | 113,247 | $ | 106,791 | $ | 108,359 | ||||||||||||||||||
Site rental costs of operations | 2,035 | 2,242 | 2,823 | |||||||||||||||||||||
Total amortization expense | $ | 115,282 | $ | 109,033 | $ | 111,182 | ||||||||||||||||||
Site Rental Contracts and Customer Relationships [Member] | ' | |||||||||||||||||||||||
Finite-Lived Intangible Assets [Line Items] | ' | |||||||||||||||||||||||
Schedule of Estimated Annual Amortization Expense | ' | |||||||||||||||||||||||
The estimated annual amortization expense related to intangible assets (inclusive of those recorded as an increase to "site rental costs of operations") for the years ended December 31, 2014 to 2018 is as follows: | ||||||||||||||||||||||||
Years Ending December 31, | ||||||||||||||||||||||||
2014 | 2015 | 2016 | 2017 | 2018 | ||||||||||||||||||||
Estimated annual amortization | $ | 115,540 | $ | 115,514 | $ | 115,489 | $ | 115,471 | $ | 115,449 | ||||||||||||||
Above Market Leases [Member] | ' | |||||||||||||||||||||||
Finite-Lived Intangible Assets [Line Items] | ' | |||||||||||||||||||||||
Intangible Assets | ' | |||||||||||||||||||||||
The following is a summary of the Company's above-market leases. | ||||||||||||||||||||||||
As of December 31, 2013 | As of December 31, 2012 | |||||||||||||||||||||||
Gross Carrying Value | Accumulated Amortization | Net Book Value | Gross Carrying Value | Accumulated Amortization | Net Book Value | |||||||||||||||||||
Above-market leases | $ | 43,740 | $ | (17,035 | ) | $ | 26,705 | $ | 44,675 | $ | (15,379 | ) | $ | 29,296 | ||||||||||
Schedule of Estimated Annual Amortization Expense | ' | |||||||||||||||||||||||
The estimated annual amortization expense related to above-market leases for land interests under the Company's towers for the years ended December 31, 2014 to 2018 is as follows: | ||||||||||||||||||||||||
Years Ending December 31, | ||||||||||||||||||||||||
2014 | 2015 | 2016 | 2017 | 2018 | ||||||||||||||||||||
Estimated annual amortization | $ | 1,996 | $ | 1,982 | $ | 1,948 | $ | 1,933 | $ | 1,909 | ||||||||||||||
Debt_and_Other_Obligations_Tab
Debt and Other Obligations (Tables) | 12 Months Ended | ||||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||||
Debt and Other Obligations [Abstract] | ' | ||||||||||||||||||||||||||||||
Schedule of Long-Term Debt Instruments | ' | ||||||||||||||||||||||||||||||
Original | Contractual | Outstanding | Outstanding | Stated | |||||||||||||||||||||||||||
Issue Date | Maturity | Balance as of | Balance as of | Interest Rate | |||||||||||||||||||||||||||
Date | December 31, | December 31, | as of | ||||||||||||||||||||||||||||
2013 | 2012 | December 31, | |||||||||||||||||||||||||||||
2013(a) | |||||||||||||||||||||||||||||||
Bonds - fixed rate: | |||||||||||||||||||||||||||||||
7.75% Secured Notes | Apr. 2009 | May-17 | $ | — | $ | 291,394 | N/A | ||||||||||||||||||||||||
2012 Secured Notes | Dec. 2012 | 2017/2023 | (b) | 1,500,000 | 1,500,000 | 3.4 | % | (b) | |||||||||||||||||||||||
Total Bonds | 1,500,000 | 1,791,394 | |||||||||||||||||||||||||||||
Less: current maturities | — | 291,394 | (c) | ||||||||||||||||||||||||||||
Non-current portion of long-term debt | $ | 1,500,000 | $ | 1,500,000 | |||||||||||||||||||||||||||
____________________ | |||||||||||||||||||||||||||||||
(a) | Represents the weighted-average stated rate. | ||||||||||||||||||||||||||||||
(b) | The 2012 Secured Notes consist of $500 million aggregate principal amount of 2.381% secured notes due 2017 and $1.0 billion aggregate principal amount of 3.849% secured notes due 2023, defined below. | ||||||||||||||||||||||||||||||
(c) | Inclusive of the 7.75% Secured Notes outstanding as of December 31, 2012, the redemption of which was completed in January 2013. | ||||||||||||||||||||||||||||||
Schedule of Maturities of Long-term Debt | ' | ||||||||||||||||||||||||||||||
Contractual Maturities | |||||||||||||||||||||||||||||||
The following are the scheduled contractual maturities of the total debt or other long-term obligations outstanding at December 31, 2013. | |||||||||||||||||||||||||||||||
Years Ending December 31, | |||||||||||||||||||||||||||||||
2014 | 2015 | 2016 | 2017 | 2018 | Thereafter | Total Cash Obligations | Total Debt and Other Obligations Outstanding | ||||||||||||||||||||||||
Scheduled contractual maturities | $ | — | $ | — | $ | — | $ | 500,000 | $ | — | $ | 1,000,000 | $ | 1,500,000 | 1,500,000 | ||||||||||||||||
Schedule of Extinguishment of Debt | ' | ||||||||||||||||||||||||||||||
The following is a summary of the purchases and redemptions of debt during the years ended December 31, 2013 and 2012. See note 6. | |||||||||||||||||||||||||||||||
Year Ending December 31, 2013 | |||||||||||||||||||||||||||||||
Principal Amount | Cash Paid(a) | Gains (losses)(c) | |||||||||||||||||||||||||||||
7.75% Secured Notes(b) | $ | 294,362 | $ | 312,465 | $ | (18,103 | ) | ||||||||||||||||||||||||
(a) | Exclusive of accrued interest. | ||||||||||||||||||||||||||||||
(b) | The redemption of the 7.75% Secured Notes was funded by the restricted cash released upon refinancing. | ||||||||||||||||||||||||||||||
(c) | The losses relate to cash losses, including with respect to make whole payments. | ||||||||||||||||||||||||||||||
Year Ending December 31, 2012 | |||||||||||||||||||||||||||||||
Principal Amount | Cash Paid(a) | Gains (losses)(b) | |||||||||||||||||||||||||||||
7.75% Secured Notes | $ | 670,557 | $ | 713,305 | $ | (67,210 | ) | ||||||||||||||||||||||||
(a) | Exclusive of accrued interest. | ||||||||||||||||||||||||||||||
(b) | Inclusive of $24.5 million related to the write-off of deferred financing costs and discounts. The remainder relative to cash losses including with respect to make whole payments. | ||||||||||||||||||||||||||||||
Schedule Of Interest Expense And Amortization Of Deferred Financing Costs [Text Block] | ' | ||||||||||||||||||||||||||||||
The components of “interest expense and amortization of deferred financing costs” are as follows: | |||||||||||||||||||||||||||||||
Years Ended December 31, | |||||||||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||||||||
Interest expense on debt obligations | $ | 50,824 | $ | 91,881 | $ | 93,000 | |||||||||||||||||||||||||
Amortization of deferred financing costs | 4,583 | 4,730 | 2,271 | ||||||||||||||||||||||||||||
Amortization of adjustments on long-term debt | 2,968 | 7,587 | 3,684 | ||||||||||||||||||||||||||||
Total | $ | 58,375 | $ | 104,198 | $ | 98,955 | |||||||||||||||||||||||||
Fair_Value_Disclosures_Tables
Fair Value Disclosures (Tables) | 12 Months Ended | |||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||
Fair Value Disclosures | ' | |||||||||||||||||
Estimated Fair Values and Carrying Amounts of Assets and Liabilities | ' | |||||||||||||||||
The following table shows the estimated fair values of the Company's financial instruments, along with the carrying amounts of the related assets (liabilities). See also note 2. | ||||||||||||||||||
Level in Fair Value Hierarchy | December 31, 2013 | December 31, 2012 | ||||||||||||||||
Carrying | Fair | Carrying | Fair | |||||||||||||||
Amount | Value | Amount | Value | |||||||||||||||
Assets: | ||||||||||||||||||
Cash and cash equivalents | 1 | $ | 31,036 | $ | 31,036 | $ | — | $ | — | |||||||||
Restricted cash | 1 | — | — | 400,493 | 400,493 | |||||||||||||
Liabilities: | ||||||||||||||||||
Debt and other obligations | 2 | 1,500,000 | 1,426,880 | 1,791,394 | 1,840,352 | |||||||||||||
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Income Taxes [Abstract] | ' | |||||||||||
Benefit (Provision) for Income Taxes | ' | |||||||||||
The benefit (provision) for income taxes consists of the following: | ||||||||||||
Years Ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Current: | ||||||||||||
Federal | $ | — | $ | — | $ | — | ||||||
State | (6,741 | ) | (1,347 | ) | (1,420 | ) | ||||||
Deferred: | ||||||||||||
Federal | 361,082 | (3,487 | ) | (9,704 | ) | |||||||
State | (5,898 | ) | (4,702 | ) | 198 | |||||||
Total tax benefit (provision) | $ | 348,443 | $ | (9,536 | ) | $ | (10,926 | ) | ||||
Effective Tax Rate | ' | |||||||||||
A reconciliation between the benefit (provision) for income taxes and the amount computed by applying the federal statutory income tax rate to the loss before income taxes is as follows: | ||||||||||||
Years Ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Benefit (provision) for income taxes at statutory rate | $ | (36,881 | ) | $ | (5,838 | ) | $ | (10,217 | ) | |||
Nondeductible expenses and other | (6 | ) | (4 | ) | (3 | ) | ||||||
State tax benefit (provision), net of federal | (6,140 | ) | (3,932 | ) | (794 | ) | ||||||
Tax adjustment related to REIT conversion | 391,688 | — | — | |||||||||
Other | (218 | ) | 238 | 88 | ||||||||
$ | 348,443 | $ | (9,536 | ) | $ | (10,926 | ) | |||||
Components of Deferred Tax Assets and Liabilities | ' | |||||||||||
The components of the net deferred income tax assets and liabilities are as follows: | ||||||||||||
December 31, | ||||||||||||
2013 | 2012 | |||||||||||
Deferred income tax liabilities: | ||||||||||||
Intangible assets | $ | — | $ | 511,649 | ||||||||
Property and equipment | — | 237,630 | ||||||||||
Deferred site rental receivables | — | 88,351 | ||||||||||
Total deferred income tax liabilities | — | 837,630 | ||||||||||
Deferred income tax assets: | ||||||||||||
Net operating loss carryforwards | — | 88,665 | ||||||||||
Deferred ground lease payable | — | 27,751 | ||||||||||
Accrued liabilities | — | 5,881 | ||||||||||
Receivables allowance | — | 585 | ||||||||||
Prepaid lease | — | 332,568 | ||||||||||
Valuation allowances | — | — | ||||||||||
Total deferred income tax assets, net | — | 455,450 | ||||||||||
Net deferred income tax asset (liabilities) | $ | — | $ | (382,180 | ) | |||||||
Leases_Tables
Leases (Tables) | 12 Months Ended | |||||||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||||||
Leases [Abstract] | ' | |||||||||||||||||||||||||||
Tenant Leases | ' | |||||||||||||||||||||||||||
The tenants' rental payments included in the table below are through the current terms with a maximum current term of 20 years and do not assume exercise of tenant renewal options. | ||||||||||||||||||||||||||||
Years Ending December 31, | ||||||||||||||||||||||||||||
2014 | 2015 | 2016 | 2017 | 2018 | Thereafter | Total | ||||||||||||||||||||||
Tenant contracts | $ | 506,652 | $ | 513,557 | $ | 505,689 | $ | 494,447 | $ | 484,414 | $ | 2,223,581 | $ | 4,728,340 | ||||||||||||||
Operating Leases | ' | |||||||||||||||||||||||||||
The operating lease payments included in the table below include payments for certain renewal periods at the Company's option up to the estimated tower useful life of 20 years and an estimate of contingent payments based on revenues and gross margins derived from existing tenant leases. See also note 6. | ||||||||||||||||||||||||||||
Years Ending December 31, | ||||||||||||||||||||||||||||
2014 | 2015 | 2016 | 2017 | 2018 | Thereafter | Total | ||||||||||||||||||||||
Operating leases | $ | 125,913 | $ | 127,639 | $ | 129,583 | $ | 131,198 | $ | 132,370 | $ | 1,677,978 | $ | 2,324,681 | ||||||||||||||
Concentration_of_Credit_Risk_T
Concentration of Credit Risk (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Risks and Uncertainties [Abstract] | ' | ||||||||
A Summary of the Percentage of the Consolidated Revenues for Those Customers Accounting for More than 10% of the Consolidated Revenues | ' | ||||||||
The following table summarizes the percentage of the Company's revenue for its largest customers, including those customers accounting for more than 10% of the Company's revenues, after giving effect to T-Mobile's acquisition of MetroPCS (completed in April 2013), Sprint's acquisition of Clearwire (completed in July 2013), and AT&T's pending acquisition of Leap Wireless. | |||||||||
Years Ended December 31, | |||||||||
2013 | 2012 | 2011 | |||||||
Sprint | 42 | % | (a) | 43 | % | 39 | % | ||
AT&T | 20 | % | (b) | 19 | % | 21 | % | ||
T-Mobile | 17 | % | (c) | 15 | % | 15 | % | ||
Verizon Wireless | 10 | % | 9 | % | 10 | % | |||
Total | 89 | % | 86 | % | 85 | % | |||
(a) | For the year ended December 31, 2013, Sprint and Clearwire accounted for 38% and 4%, respectively, of site rental revenues. As of December 31, 2013, Sprint and Clearwire are co-residents on approximately 16% of the Company's sites. The weighted-average remaining term on tenant contracts related to these sites with Sprint and Clearwire is approximately seven years and three years, respectively. Revenue from Clearwire on these sites represented approximately 4% of site rental revenues for the year ended December 31, 2013. | ||||||||
(b) | For the year ended December 31, 2013, AT&T and Leap Wireless accounted for 16% and 4%, respectively, of site rental revenues. As of December 31, 2013, AT&T and Leap Wireless are co-residents on approximately 4% of the Company's sites. The weighted-average remaining term on tower tenant contracts related to these sites with AT&T and Leap Wireless is approximately 10 years and four years, respectively. Revenue from Leap Wireless on these sites represented approximately 1% of site rental revenues for the year ended December 31, 2013. | ||||||||
(c) | For the year ended December 31, 2013, T-Mobile and MetroPCS accounted for 14% and 3%, respectively, of site rental revenues. As of December 31, 2013, T-Mobile and MetroPCS are co-residents on approximately 5% of the Company's sites. The weighted-average remaining term on tower tenant contracts related to these sites with T-Mobile and MetroPCS is approximately nine years and five years, respectively. Revenue from MetroPCS on these sites represented approximately 2% of site rental revenues for the year ended December 31, 2013. |
Supplemental_Cash_Flow_Informa1
Supplemental Cash Flow Information (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Supplemental Cash Flow Elements [Abstract] | ' | |||||||||||
Supplemental Disclosure of Cash Flow Information and Non-cash Investing and Financing Activities | ' | |||||||||||
The following table is a summary of the supplemental cash flow information during the years ended December 31, 2013, 2012, and 2011. | ||||||||||||
For Years Ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Supplemental disclosure of cash flow information: | ||||||||||||
Interest paid (inclusive of payments to related parties) | $ | 47,091 | $ | 102,459 | $ | 93,000 | ||||||
Income taxes paid | — | — | — | |||||||||
Supplemental disclosure of non-cash investing and financing activities: | ||||||||||||
Non-cash equity contribution (distribution)—income taxes (note 8) | 26,995 | 8,858 | 22,904 | |||||||||
Contribution of 7.75% Secured Notes from affiliate (note 6) | — | 235,081 | — | |||||||||
Equity contribution (distribution) of amount due to affiliates (note 6) | (251,013 | ) | (597,445 | ) | (127,087 | ) |
Basis_of_Presentation_Details
Basis of Presentation (Details) (USD $) | 12 Months Ended |
In Billions, unless otherwise specified | Dec. 31, 2013 |
tower | |
Tower count | 7,800 |
Leased or Operated Under Master Lease Agreements [Member] | ' |
Tower count | 0 |
Ground Lease Agreement Initial Term | '32 years |
Purchase Option Price | $2.30 |
Summary_of_Significant_Account2
Summary of Significant Accounting Policies (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Increase (decrease) in restricted cash for operating activities | $12,102 | $5,639 | $4,994 |
Restricted cash, held by trustee to redeem outstanding notes payable | ' | 316,600 | ' |
Asset write-down charges | 5,729 | 3,459 | 11,715 |
Property management fee, percent fee | 7.50% | ' | ' |
Site Rental Contracts and Customer Relationships [Member] | ' | ' | ' |
Property, plant and equipment estimated useful life, maximum (years) | '20 years | ' | ' |
Minimum [Member] | ' | ' | ' |
Rent revenue, lease term | '5 years | ' | ' |
Maximum [Member] | ' | ' | ' |
Rent revenue, lease term | '15 years | ' | ' |
Tower Write-Down Charges [Member] | ' | ' | ' |
Asset write-down charges | $3,400 | $3,400 | $7,400 |
Secured Debt [Member] | ' | ' | ' |
Stated interest rate | 7.75% | ' | ' |
Property_and_Equipment_Details
Property and Equipment (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Total gross property and equipment | $1,716,869,000 | $1,636,647,000 | ' |
Less accumulated depreciation | -569,477,000 | -490,639,000 | ' |
Total property and equipment, net | 1,147,392,000 | 1,146,008,000 | ' |
Depreciation expense | 82,200,000 | 80,700,000 | 81,100,000 |
Capital Leased Assets, Gross | ' | 1,100,000,000 | ' |
Accumulated Depreciation on Capital Lease Assets | ' | -377,000,000 | ' |
Land [Member] | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Total gross property and equipment | 74,943,000 | 75,588,000 | ' |
Wireless Infrastructure [Member] | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Total gross property and equipment | 1,567,885,000 | 1,519,540,000 | ' |
Wireless Infrastructure [Member] | Minimum [Member] | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Property, plant and equipment, useful life | ' | '1 year | ' |
Wireless Infrastructure [Member] | Maximum [Member] | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Property, plant and equipment, useful life | ' | '20 years | ' |
Construction in Process [Member] | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Total gross property and equipment | $74,041,000 | $41,519,000 | ' |
Intangible_Assets_and_Deferred2
Intangible Assets and Deferred Credits (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Finite-lived intangible assets, gross | $2,147,236,000 | $2,158,198,000 | ' |
Accumulated amortization of intangible assets | -762,506,000 | -656,494,000 | ' |
Other intangible assets, net | 29,382,000 | 33,211,000 | ' |
Finite-lived intangible assets, net | 1,384,730,000 | 1,501,704,000 | ' |
Amortization expense | 115,282,000 | 109,033,000 | 111,182,000 |
Depreciation, Amortization and Accretion [Member] | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Amortization expense | 113,247,000 | 106,791,000 | 108,359,000 |
Site Rental Costs of Operations [Member] | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Amortization expense | 2,035,000 | 2,242,000 | 2,823,000 |
2014 | 115,540,000 | ' | ' |
2015 | 115,514,000 | ' | ' |
2016 | 115,489,000 | ' | ' |
2017 | 115,471,000 | ' | ' |
2018 | 115,449,000 | ' | ' |
Site Rental Contracts and Customer Relationships [Member] | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Finite-lived intangible assets, gross | 2,100,699,000 | 2,100,699,000 | ' |
Accumulated amortization of intangible assets | -745,351,000 | -632,206,000 | ' |
Finite-lived intangible assets, net | 1,355,348,000 | 1,468,493,000 | ' |
Other Intangible Assets [Member] | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Finite-lived intangible assets, gross | 46,537,000 | 57,499,000 | ' |
Accumulated amortization of intangible assets | -17,155,000 | -24,288,000 | ' |
Other intangible assets, net | 29,382,000 | 33,211,000 | ' |
Above Market Leases [Member] | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Finite-lived intangible assets, gross | 43,740,000 | 44,675,000 | ' |
Accumulated amortization of intangible assets | -17,035,000 | -15,379,000 | ' |
Finite-lived intangible assets, net | 26,705,000 | 29,296,000 | ' |
Deferred Credits [Abstract] | ' | ' | ' |
2014 | 1,996,000 | ' | ' |
2015 | 1,982,000 | ' | ' |
2016 | 1,948,000 | ' | ' |
2017 | 1,933,000 | ' | ' |
2018 | 1,909,000 | ' | ' |
Above Market Leases [Member] | Site Rental Costs of Operations [Member] | ' | ' | ' |
Deferred Credits [Abstract] | ' | ' | ' |
Deferred credit amortization expense | $2,000,000 | $2,200,000 | $2,600,000 |
Debt_and_Other_Obligations_Ind
Debt and Other Obligations (Indebtedness) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Apr. 30, 2009 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | ||||||
In Thousands, unless otherwise specified | Fixed Rate - High Yield Bonds, 7.75% Secured Notes [Member] | Fixed Rate - High Yield Bonds, 7.75% Secured Notes [Member] | High Yield Bonds [Member] | High Yield Bonds [Member] | High Yield Bonds [Member] | High Yield Bonds [Member] | High Yield Bonds [Member] | High Yield Bonds [Member] | 2012 secured notes tranche A [Member] | 2012 secured notes tranche B [Member] | ||||||||
Fixed Rate - High Yield Bonds, 7.75% Secured Notes [Member] | Fixed Rate - High Yield Bonds, 7.75% Secured Notes [Member] | 2012 Secured Notes [Member] | 2012 Secured Notes [Member] | 2012 Secured Notes [Member] | 2012 Secured Notes [Member] | |||||||||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||
Total debt and other obligations | $1,500,000 | $1,791,394 | ' | ' | $1,500,000 | $1,791,394 | $0 | [1] | $291,394 | [1] | $1,500,000 | [1] | $1,500,000 | [1] | $500,000 | $1,000,000 | ||
Less: current maturities and short-term debt and other current obligations | 0 | [2] | 291,394 | [2] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Non-current portion of long-term debt and other long-term obligations | $1,500,000 | $1,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||
Stated interest rate | ' | ' | 7.75% | 7.75% | ' | ' | 7.75% | ' | 3.40% | [1],[2] | ' | 2.38% | 3.85% | |||||
[1] | The 2012 Secured Notes consist of $500 million aggregate principal amount of 2.381% secured notes due 2017 and $1.0 billion aggregate principal amount of 3.849% secured notes due 2023, defined below. | |||||||||||||||||
[2] | Represents the weighted-average stated rate. |
Debt_and_Other_Obligations_Tex
Debt and Other Obligations (Textuals) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Apr. 30, 2009 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | ||||
Fixed Rate - High Yield Bonds, 7.75% Secured Notes [Member] | Fixed Rate - High Yield Bonds, 7.75% Secured Notes [Member] | High Yield Bonds [Member] | High Yield Bonds [Member] | High Yield Bonds [Member] | High Yield Bonds [Member] | High Yield Bonds [Member] | High Yield Bonds [Member] | 2012 secured notes tranche A [Member] | 2012 secured notes tranche B [Member] | |||||||
Fixed Rate - High Yield Bonds, 7.75% Secured Notes [Member] | Fixed Rate - High Yield Bonds, 7.75% Secured Notes [Member] | 2012 Secured Notes [Member] | 2012 Secured Notes [Member] | 2012 Secured Notes [Member] | 2012 Secured Notes [Member] | |||||||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Total debt and other obligations | $1,500,000,000 | $1,791,394,000 | ' | ' | $1,500,000,000 | $1,791,394,000 | $0 | [1] | $291,394,000 | [1] | $1,500,000,000 | [1] | $1,500,000,000 | [1] | $500,000,000 | $1,000,000,000 |
Stated interest rate | ' | ' | 7.75% | 7.75% | ' | ' | 7.75% | ' | 3.40% | [1],[2] | ' | 2.38% | 3.85% | |||
Debt covenant, trade payable restriction of equipment, land or other property, amount | ' | ' | ' | ' | ' | ' | ' | ' | 100,000,000 | ' | ' | ' | ||||
Debt covenant, debt to adjusted consolidated cash flow | ' | ' | ' | ' | ' | ' | ' | ' | 3.5 | ' | ' | ' | ||||
Debt to adjusted cash flow ratio | ' | ' | ' | ' | ' | ' | ' | ' | 3.9 | ' | ' | ' | ||||
Face amount of debt instrument | ' | ' | ' | $1,200,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ||||
[1] | The 2012 Secured Notes consist of $500 million aggregate principal amount of 2.381% secured notes due 2017 and $1.0 billion aggregate principal amount of 3.849% secured notes due 2023, defined below. | |||||||||||||||
[2] | Represents the weighted-average stated rate. |
Debt_and_Other_Obligations_Sch
Debt and Other Obligations (Scheduled Contractual Maturities) (Details) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Debt and Other Obligations [Abstract] | ' |
2014 | $0 |
2015 | 0 |
2016 | 0 |
2017 | 500,000 |
2018 | 0 |
Thereafter | 1,000,000 |
Total Cash Obligations | 1,500,000 |
Total Debt and Other Obligations Outstanding | $1,500,000 |
Debt_and_Other_Obligations_Deb
Debt and Other Obligations (Debt Purchases and Repayments) (Details) (USD $) | 12 Months Ended | 1 Months Ended | 12 Months Ended | |||||||||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2013 | |||||
Fixed Rate - High Yield Bonds, 7.75% Secured Notes [Member] | Fixed Rate - High Yield Bonds, 7.75% Secured Notes [Member] | Fixed Rate - High Yield Bonds, 7.75% Secured Notes [Member] | Principal [Member] | Amount offered prior to settlement date [Member] | Amount validly tendered [Member] | Amount redeemed after tender [Member] | ||||||||
Fixed Rate - High Yield Bonds, 7.75% Secured Notes [Member] | Fixed Rate - High Yield Bonds, 7.75% Secured Notes [Member] | Fixed Rate - High Yield Bonds, 7.75% Secured Notes [Member] | Fixed Rate - High Yield Bonds, 7.75% Secured Notes [Member] | |||||||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Tender Offer Amount | ' | ' | ' | ' | ' | ' | $1,000 | $1,063.45 | ' | ' | ||||
Principal amount | ' | ' | ' | ' | ' | ' | ' | ' | 670,557,000 | [1] | 294,362,000 | [2] | ||
Equity contributionb7.75% Secured Notes from affiliate | 0 | 235,081,000 | 0 | ' | ' | 235,100,000 | ' | ' | ' | ' | ||||
Cash Paid | ' | ' | ' | 312,465,000 | [2],[3] | 713,305,000 | [1],[3] | ' | ' | ' | ' | ' | ||
Gains (losses) on retirement of long-term obligations | 18,103,000 | 67,210,000 | 0 | 18,103,000 | [2],[4] | 67,210,000 | [1] | ' | ' | ' | ' | ' | ||
Write-off of deferred financing costs and discounts | ' | ' | ' | ' | $24,500,000 | ' | ' | ' | ' | ' | ||||
[1] | Inclusive of $24.5 million related to the write-off of deferred financing costs and discounts. The remainder relative to cash losses including with respect to make whole payments. | |||||||||||||
[2] | The redemption of the 7.75% Secured Notes was funded by the restricted cash released upon refinancing. | |||||||||||||
[3] | Exclusive of accrued interest. | |||||||||||||
[4] | The losses relate to cash losses, including with respect to make whole payments. |
Debt_and_Other_Obligations_Deb1
Debt and Other Obligations Debt and Other Obligations (Interest Expense and Amortization of Deferred Financing Costs) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Debt and Other Obligations [Abstract] | ' | ' | ' |
Interest expense on debt obligations | $50,824 | $91,881 | $93,000 |
Amortization of deferred financing costs | 4,583 | 4,730 | 2,271 |
Amortization of adjustments on long-term debt | 2,968 | 7,587 | 3,684 |
Total | $58,375 | $104,198 | $98,955 |
Related_Party_Transactions_Rel1
Related Party Transactions Related Party Transactions (USD $) | 12 Months Ended | 3 Months Ended | |||||||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Apr. 30, 2009 | Dec. 31, 2013 | Mar. 31, 2012 | Dec. 31, 2013 | ||||
Fixed Rate - High Yield Bonds, 7.75% Secured Notes [Member] | Fixed Rate - High Yield Bonds, 7.75% Secured Notes [Member] | High Yield Bonds [Member] | Affiliated Entity [Member] | Affiliated Entity [Member] | |||||||
Fixed Rate - High Yield Bonds, 7.75% Secured Notes [Member] | |||||||||||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | |||
Property management fee, percent fee | 7.50% | ' | ' | ' | ' | ' | ' | ' | |||
Management fee | $40,561,000 | $38,693,000 | $36,606,000 | ' | ' | ' | ' | ' | |||
Related party transaction, percentage of towers where land is owned by related party | ' | ' | ' | ' | ' | ' | ' | 23.00% | |||
Site rental cost of operationsbrelated parties(a) | 28,377,000 | [1] | 24,379,000 | [1] | 18,298,000 | [1] | ' | ' | ' | ' | ' |
Site rental revenue of operationsbrelated parties(a) | 600,000 | 600,000 | 300,000 | ' | ' | ' | ' | ' | |||
Principal amount | ' | ' | ' | ' | ' | ' | 35,500,000 | ' | |||
Stated interest rate | ' | ' | ' | 7.75% | 7.75% | 7.75% | ' | ' | |||
Equity contributionb7.75% Secured Notes from affiliate | 0 | 235,081,000 | 0 | ' | ' | ' | ' | ' | |||
Interest expense and amortization of deferred financing costsbrelated parties | 0 | -17,188,000 | -15,880,000 | ' | ' | ' | ' | ' | |||
Distribution made to limited liability company (LLC) member, cash distributions paid | ($224,018,000) | ($353,506,000) | ($104,183,000) | ' | ' | ' | ' | ' | |||
[1] | Exclusive of depreciation, amortization and accretion shown separately and certain indirect costs included in the management fee. |
Fair_Value_Disclosures_Estimat
Fair Value Disclosures (Estimated Fair Values and Carrying Amounts of Assets and Liabilities) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
In Thousands, unless otherwise specified | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ' | ' |
Cash and cash equivalents, carrying value | $31,036 | $0 | $0 | $0 |
Restricted cash, carrying value | 0 | 400,493 | ' | ' |
Long-term debt and other obligations, carrying amount | 1,500,000 | 1,791,394 | ' | ' |
Fair Value, Inputs, Level 1 [Member] | ' | ' | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ' | ' |
Cash and cash equivalents, fair value | 31,036 | 0 | ' | ' |
Restricted cash, fair value | 0 | 400,493 | ' | ' |
Fair Value, Inputs, Level 2 [Member] | ' | ' | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' | ' | ' |
Long-term debt and other obligations, fair value | $1,426,880 | $1,840,352 | ' | ' |
Income_Taxes_Narrative_Details
Income Taxes (Narrative) (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Equity contribution - income taxes | $26,995,000 | $8,858,000 | $22,904,000 |
Valuation allowances | 0 | 0 | ' |
Unrecognized tax benefits that would impact effective tax rate | 6,000,000 | ' | ' |
Change in unrecognized tax benefits | -1,000,000 | -1,000,000 | -1,100,000 |
Crown Castle International Corporation [Member] | ' | ' | ' |
Equity contribution - income taxes | $27,000,000 | $8,900,000 | $22,900,000 |
Income_Taxes_Benefit_Provision
Income Taxes (Benefit (Provision) for Income Taxes) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Taxes [Abstract] | ' | ' | ' |
Current Federal | $0 | $0 | $0 |
Current State | -6,741 | -1,347 | -1,420 |
Deferred Federal | 361,082 | -3,487 | -9,704 |
Deferred State | -5,898 | -4,702 | 198 |
Total benefit (provision) for income taxes | $348,443 | ($9,536) | ($10,926) |
Income_Taxes_Effective_Tax_Rat
Income Taxes (Effective Tax Rate) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Taxes [Abstract] | ' | ' | ' |
Benefit (provision) for income taxes at statutory rate | ($36,881) | ($5,838) | ($10,217) |
Nondeductible expenses and other | -6 | -4 | -3 |
State tax benefit (provision), net of federal | -6,140 | -3,932 | -794 |
Tax adjustment related to REIT conversion | 391,688 | 0 | 0 |
Other | -218 | 238 | 88 |
Total benefit (provision) for income taxes | ($348,443) | $9,536 | $10,926 |
Income_Taxes_Components_of_Def
Income Taxes (Components of Deferred Tax Assets and Liabilities) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Income Taxes [Abstract] | ' | ' |
Intangible assets | $0 | $511,649 |
Property and equipment | 0 | 237,630 |
Deferred site rental receivables | 0 | 88,351 |
Total deferred income tax liabilities | 0 | 837,630 |
Net operating loss carryforwards | 0 | 88,665 |
Deferred ground lease payable | 0 | 27,751 |
Accrued liabilities | 0 | 5,881 |
Receivables allowance | 0 | 585 |
Prepaid lease | 0 | 332,568 |
Valuation allowances | 0 | 0 |
Total deferred income tax assets, net | 0 | 455,450 |
Net deferred income tax asset (liabilities) | $0 | ($382,180) |
Commitments_and_Contingencies_
Commitments and Contingencies (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Purchase option, percentage of towers | 68.00% | ' | ' |
Accretion expense related to liabilities for contingent retirement obligations | $1.80 | $1.70 | $1.60 |
Asset retirement obligation | 23 | 21.5 | ' |
Asset retirement obligation future outlay | ' | 127 | ' |
Property Taxes [Member] | Sprint [Member] | ' | ' | ' |
Payments for other taxes | $13.20 | $12.80 | $12.40 |
Increase in property tax commitment | 3.00% | ' | ' |
Leases_Details
Leases (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Property Subject to or Available for Operating Lease [Line Items] | ' | ' | ' |
Weighted average remaining term of tenant leases | '7 years | ' | ' |
Maximum Current Term | '20 years | ' | ' |
Tenant Leases 2014 | $506,652,000 | ' | ' |
Tenant Leases 2015 | 513,557,000 | ' | ' |
Tenant Leases 2016 | 505,689,000 | ' | ' |
Tenant Leases 2017 | 494,447,000 | ' | ' |
Tenant Leases 2018 | 484,414,000 | ' | ' |
Tenant Leases thereafter | 2,223,581,000 | ' | ' |
Total tenant leases | 4,728,340,000 | ' | ' |
Percentage of wireless infrastructure, office space and equipment that is on land that has non-cancelable operating leases | 90.00% | ' | ' |
Operating leases, owned land under tower, expiration term | '10 years | ' | ' |
Operating leases, leased land under tower, expiration term | '20 years | ' | ' |
Operating leases 2014 | 125,913,000 | ' | ' |
Operating leases 2015 | 127,639,000 | ' | ' |
Operating leases 2016 | 129,583,000 | ' | ' |
Operating leases 2017 | 131,198,000 | ' | ' |
Operating leases 2018 | 132,370,000 | ' | ' |
Operating leases thereafter | 1,677,978,000 | ' | ' |
Total operating leases | 2,324,681,000 | ' | ' |
Rental expense from operating leases | 140,300,000 | 136,700,000 | 133,700,000 |
Contingent rental payments | $28,800,000 | $28,400,000 | $28,800,000 |
Greater than 10 Years, Inclusive of Renewals at the Company's Option [Member] | ' | ' | ' |
Property Subject to or Available for Operating Lease [Line Items] | ' | ' | ' |
Percentage of site rental gross margin that is derived from wireless infrastructure where the lease for the land has a final expiration date | 90.00% | ' | ' |
Greater than 20 Years, Inclusive of Renewals at the Company's Option [Member] | ' | ' | ' |
Property Subject to or Available for Operating Lease [Line Items] | ' | ' | ' |
Percentage of site rental gross margin that is derived from wireless infrastructure where the lease for the land has a final expiration date | 50.00% | ' | ' |
Wireless Infrastructure [Member] | ' | ' | ' |
Property Subject to or Available for Operating Lease [Line Items] | ' | ' | ' |
Estimated useful life, maximum, in years | '20 years | ' | ' |
Concentration_of_Credit_Risk_M
Concentration of Credit Risk (Major Customers) (Details) | 12 Months Ended | 12 Months Ended | 12 Months Ended | |||||||||||||||||||||||||||||||
Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | ||||||||||
tower | Sprint, excluding Clearwire [Member] | Clearwire [Member] | AT&T, excluding Leap Wireless [Member] | Leap Wireless [Member] | T-Mobile, excluding Metro PCS [Member] | Metro PCS [Member] | Sprint Clearwire Consolidation [Member] | ATT Leap Wireless Consolidation [Member] | T-Mobile Metro Consolidation [Member] | Sprint [Member] | Sprint [Member] | Sprint [Member] | AT&T [Member] | AT&T [Member] | AT&T [Member] | T-Mobile [Member] | T-Mobile [Member] | T-Mobile [Member] | Verizon Wireless [Member] | Verizon Wireless [Member] | Verizon Wireless [Member] | |||||||||||||
tower | tower | tower | ||||||||||||||||||||||||||||||||
Percentage of the consolidated revenues | 89.00% | 86.00% | 85.00% | ' | 38.00% | 4.00% | 16.00% | 4.00% | 14.00% | 3.00% | ' | ' | ' | 42.00% | [1] | 43.00% | [1] | 39.00% | [1] | 20.00% | [2] | 19.00% | [2] | 21.00% | [2] | 17.00% | [3] | 15.00% | [3] | 15.00% | [3] | 10.00% | 9.00% | 10.00% |
Tower count | ' | ' | ' | 7,800 | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Weighted Average Remaining Term Of Tenant Leases | ' | ' | ' | ' | '7 years | '3 years | '10 years | '4 years | '9 years | '5 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
Revenue from consolidated tenant during merger as percentage of net revenues | ' | ' | ' | ' | ' | 4.00% | ' | 1.00% | ' | 2.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||
[1] | For the year ended DecemberB 31, 2013, Sprint and Clearwire accounted for 38% and 4%, respectively, of site rental revenues. As of DecemberB 31, 2013, Sprint and Clearwire are co-residents on approximately 16% of the Company's sites. The weighted-average remaining term on tenant contracts related to these sites with Sprint and Clearwire is approximately seven years and three years, respectively. Revenue from Clearwire on these sites represented approximately 4% of site rental revenues for the year ended DecemberB 31, 2013. | |||||||||||||||||||||||||||||||||
[2] | For the year ended DecemberB 31, 2013, AT&T and Leap Wireless accounted for 16% and 4%, respectively, of site rental revenues. As of DecemberB 31, 2013, AT&T and Leap Wireless are co-residents on approximately 4% of the Company's sites. The weighted-average remaining term on tower tenant contracts related to these sites with AT&T and Leap Wireless is approximately 10 years and four years, respectively. Revenue from Leap Wireless on these sites represented approximately 1% of site rental revenues for the year ended DecemberB 31, 2013. | |||||||||||||||||||||||||||||||||
[3] | For the year ended DecemberB 31, 2013, T-Mobile and MetroPCS accounted for 14% and 3%, respectively, of site rental revenues. As of DecemberB 31, 2013, T-Mobile and MetroPCS are co-residents on approximately 5% of the Company's sites. The weighted-average remaining term on tower tenant contracts related to these sites with T-Mobile and MetroPCS is approximately nine years and five years, respectively. Revenue from MetroPCS on these sites represented approximately 2% of site rental revenues for the year ended DecemberB 31, 2013. |
Supplemental_Cash_Flow_Informa2
Supplemental Cash Flow Information (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Supplemental disclosure of cash flow information: | ' | ' | ' |
Interest paid (inclusive of payments to related parties) | $47,091,000 | $102,459 | $93,000 |
Income taxes paid | 0 | 0 | 0 |
Supplemental disclosure of non-cash investing and financing activities: | ' | ' | ' |
Non-cash equity contribution (distribution)bincome taxes | 26,995 | 8,858 | 22,904 |
Equity contributionb7.75% Secured Notes from affiliate | 0 | 235,081 | 0 |
Equity contribution (distribution) of amount due to affiliates | ($251,013) | ($597,445) | ($127,087) |
Schedule_II_Valuation_and_Qual1
Schedule II - Valuation and Qualifying Accounts (Details) (Allowance for Doubtful Accounts [Member], USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Allowance for Doubtful Accounts [Member] | ' | ' | ' |
Movement in Valuation Allowances and Reserves [Roll Forward] | ' | ' | ' |
Balance at Beginning of Year | $1,507 | $1,605 | $2,032 |
Charged to Operations | 268 | 413 | 697 |
Credited to Operations | 0 | 0 | 0 |
Written Off | -399 | -511 | -1,124 |
Balance at End of Year | $1,376 | $1,507 | $1,605 |