Document and Entity Information
Document and Entity Information | 9 Months Ended |
Sep. 30, 2020shares | |
Document and Entity Information | |
Document Type | 10-Q |
Document Quarterly Report | true |
Document Period End Date | Sep. 30, 2020 |
Document Transition Report | false |
Entity File Number | 333-187970 |
Entity Registrant Name | CC HOLDINGS GS V LLC |
Entity Incorporation, State or Country Code | DE |
Entity Tax Identification Number | 20-4300339 |
Entity Common Stock, Shares Outstanding | 0 |
Entity Address, Address Line One | 1220 Augusta Drive |
Entity Address, Address Line Two | Suite 600 |
Entity Address, City or Town | Houston |
Entity Address, State or Province | TX |
Entity Address, Postal Zip Code | 77057-2261 |
City Area Code | 713 |
Local Phone Number | 570-3000 |
Entity Current Reporting Status | Yes |
Entity Interactive Data Current | Yes |
Entity Filer Category | Non-accelerated Filer |
Entity Small Business | false |
Entity Emerging Growth Company | false |
Entity Shell Company | false |
Entity Central Index Key | 0001574291 |
Current Fiscal Year End Date | --12-31 |
Document Fiscal Year Focus | 2020 |
Document Fiscal Period Focus | Q3 |
Amendment Flag | false |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheet - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 | ||
ASSETS | ||||
Cash and cash equivalents | $ 31,565 | $ 20,407 | ||
Receivables, net | 4,061 | 3,620 | ||
Prepaid expenses | 17,135 | 12,714 | [1] | |
Deferred site rental receivables and other current assets(a) | 36,659 | 30,207 | [1] | |
Total current assets | 89,420 | 66,948 | ||
Deferred site rental receivables | 349,932 | 354,075 | ||
Property and equipment, net of accumulated depreciation of $1,174,449 and $1,095,355, respectively | 972,323 | 1,010,367 | ||
Operating lease, right-of-use assets | 1,163,109 | 1,150,476 | ||
Goodwill | 1,338,730 | 1,338,730 | ||
Other intangible assets, net | 593,694 | 678,956 | ||
Long-term prepaid rent and other assets, net | 1,749 | 1,905 | ||
Total assets | 4,508,957 | 4,601,457 | ||
LIABILITIES AND EQUITY | ||||
Accounts payable | 1,696 | 2,652 | ||
Accrued interest | 17,748 | 8,126 | ||
Deferred revenues(b) | [2] | 87,503 | 70,217 | |
Other accrued liabilities | 5,371 | 6,146 | ||
Current portion of operating lease liabilities—third parties | 37,790 | 37,164 | ||
Current portion of operating lease liabilities—related parties | 23,175 | 20,417 | ||
Total current liabilities | 173,283 | 144,722 | ||
Debt | 996,469 | 995,431 | ||
Operating lease liabilities—third parties | 848,407 | 845,960 | ||
Operating lease liabilities—related parties | 323,219 | 314,920 | ||
Other Liabilities, Noncurrent | [2] | 194,620 | 203,470 | |
Total liabilities | 2,535,998 | 2,504,503 | ||
Member's equity: | ||||
Member's equity | 1,972,959 | 2,096,954 | ||
Accumulated earnings (deficit) | 0 | 0 | ||
Total member's equity | 1,972,959 | 2,096,954 | ||
Total liabilities and equity | $ 4,508,957 | $ 4,601,457 | ||
[1] | Reflects the correction of certain immaterial prior period misclassifications of the reported balances in "Prepaid expenses" and "Deferred site rental receivables and other current assets" on the condensed consolidated balance sheet as of December 31, 2019 | |||
[2] | Reflects the recording of deferred revenues in connection with the tower installation and modification transactions described in note 5 that result in permanent improvements to the Company's towers. The Company receives no cash from, and is not party to, such transactions. |
Condensed Consolidated Statemen
Condensed Consolidated Statement of Operations Statement - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | ||||
Revenues from tenant contracts | $ 173,348 | $ 171,745 | $ 517,041 | $ 507,256 | |||
Amortization of tower installations and modifications | [1] | 14,818 | 13,436 | [2] | 43,639 | 38,371 | [2] |
Total site rental revenues | 188,166 | 185,181 | 560,680 | 545,627 | |||
Operating expenses: | |||||||
Site rental cost of operations—third parties(b) | [3] | 38,640 | 38,406 | 115,156 | 114,212 | ||
Ground rent expenses—related parties | 11,446 | 10,880 | 34,235 | 32,210 | |||
Site rental cost of operations—total(b) | [3] | 50,086 | 49,286 | 149,391 | 146,422 | ||
Management fee—related party | 13,084 | 12,611 | 38,596 | 37,238 | |||
Asset write-down charges | 0 | 0 | 424 | 375 | |||
Depreciation, amortization and accretion | 53,048 | 51,881 | 158,138 | 155,087 | |||
Total operating expenses | 116,218 | 113,778 | 346,549 | 339,122 | |||
Operating income (loss) | 71,948 | 71,403 | 214,131 | 206,505 | |||
Interest expense and amortization of deferred financing costs | (9,969) | (9,969) | (29,906) | (29,906) | |||
Other income (expense) | (12) | 160 | 74 | 445 | |||
Income (loss) before income taxes | 61,967 | 61,594 | 184,299 | 177,044 | |||
Benefit (provision) for income taxes | (80) | (102) | (292) | (307) | |||
Net income (loss) | $ 61,887 | $ 61,492 | $ 184,007 | $ 176,737 | |||
[1] | Represents the amortization of deferred revenues recorded in connection with the tower installation and modification transactions described in note 5 that result in permanent improvements to the Company's towers. The Company receives no cash from, and is not party to, such transactions. | ||||||
[2] | Represents the amortization of deferred revenues recorded in connection with the tower installation and modification transactions described in note 5 that result in permanent improvements to the Company's towers. The Company receives no cash from, and is not party to, such transactions. | ||||||
[3] | Exclusive of depreciation, amortization and accretion shown separately and certain indirect costs included in the management fee. |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheet Parenthetical (Parentheticals) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Accumulated Depreciation [Abstract] | ||
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | $ 1,174,449 | $ 1,095,355 |
Condensed Consolidated Statem_2
Condensed Consolidated Statement of Cash Flows - USD ($) $ in Thousands | 9 Months Ended | |||
Sep. 30, 2020 | Sep. 30, 2019 | |||
Cash flows from operating activities:(a) | ||||
Net income (loss) | $ 184,007 | $ 176,737 | ||
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ||||
Depreciation, amortization and accretion | 158,138 | 155,087 | ||
Amortization Of Deferred Financing Costs | 1,038 | 1,038 | ||
Asset write-down charges | 424 | 375 | ||
Changes in assets and liabilities: | ||||
Increase (decrease) in accrued interest | 9,622 | 9,622 | ||
Increase (decrease) in accounts payable | 1,802 | (3,844) | ||
Increase (decrease) in other liabilities | 6,800 | 15,477 | ||
Decrease (increase) in receivables | (441) | 1,978 | ||
Decrease (increase) in other assets | (5,051) | (14,256) | ||
Net cash provided by (used for) operating activities | [1] | 356,339 | 342,214 | [2] |
Cash flows from investing activities: | ||||
Capital expenditures(b) | [3] | (37,179) | (64,204) | [4] |
Net cash provided by (used for) investing activities | (37,179) | (64,204) | ||
Cash flows from financing activities: | ||||
Distributions to member | [5] | (308,002) | (278,231) | |
Net cash provided by (used for) financing activities | (308,002) | (278,231) | ||
Net increase (decrease) in cash and cash equivalents | 11,158 | (221) | ||
Cash and cash equivalents at beginning of period | 20,407 | 18,707 | ||
Cash and cash equivalents at end of period | $ 31,565 | $ 18,486 | ||
[1] | The Company receives no cash from, and is not party to, the tower installation and modification transactions described in note 5. Such transactions, however, are reflected on the cash flow statement for GAAP purposes as if an amount equal to the lease component for such transactions had been received by the Company, and, as such, the amounts have been recorded as deferred revenues. | |||
[2] | The Company receives no cash from, and is not party to, the tower installation and modification transactions described in note 5. Such transactions, however, are reflected on the cash flow statement for GAAP purposes as if an amount equal to the lease component for such transactions had been received by the Company, and, as such, the amounts have been recorded as deferred revenues. | |||
[3] | Includes permanent improvements recorded in connection with the tower installation and modification transactions described in note 5. The Company receives no cash from, and is not party to, such transactions. | |||
[4] | Includes permanent improvements recorded in connection with the tower installation and modification transactions described in note 5. The Company receives no cash from, and is not party to, such transactions. | |||
[5] | See note 5 . The Company receives no cash from, and is not party to, the tower installation and modification transactions described in note 5 . |
Condensed Consolidated Statem_3
Condensed Consolidated Statement of Equity - USD ($) $ in Thousands | Total | Members' Equity [Member] | Accumulated Earnings (Deficit) [Member] | |
Balance, beginning at Dec. 31, 2018 | $ 2,219,198 | $ 2,219,198 | $ 0 | |
Equity [Roll Forward] | ||||
Distributions to member | [1] | (278,231) | (101,494) | (176,737) |
Net income (loss) | 176,737 | 0 | 176,737 | |
Balance, ending at Sep. 30, 2019 | 2,117,704 | 2,117,704 | 0 | |
Balance, beginning at Jun. 30, 2019 | 2,156,857 | 2,156,857 | 0 | |
Equity [Roll Forward] | ||||
Distributions to member | [1] | (100,645) | (39,153) | (61,492) |
Net income (loss) | 61,492 | 0 | 61,492 | |
Balance, ending at Sep. 30, 2019 | 2,117,704 | 2,117,704 | 0 | |
Balance, beginning at Dec. 31, 2019 | 2,096,954 | 2,096,954 | 0 | |
Equity [Roll Forward] | ||||
Distributions to member | [1] | (308,002) | (123,995) | (184,007) |
Net income (loss) | 184,007 | 184,007 | ||
Balance, ending at Sep. 30, 2020 | 1,972,959 | 1,972,959 | 0 | |
Balance, beginning at Jun. 30, 2020 | 2,022,376 | 2,022,376 | 0 | |
Equity [Roll Forward] | ||||
Distributions to member | [1] | (111,304) | (49,417) | (61,887) |
Net income (loss) | 61,887 | 0 | 61,887 | |
Balance, ending at Sep. 30, 2020 | $ 1,972,959 | $ 1,972,959 | $ 0 | |
[1] | See note 5 . The Company receives no cash from, and is not party to, the tower installation and modification transactions described in note 5 . |
General
General | 9 Months Ended |
Sep. 30, 2020 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
General | General 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, "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"). CCL is a Delaware limited liability company that is a holding company and an issuer of the Company's debt. Intercompany accounts, transactions and profits have been eliminated. As used herein, the term "including," and any variation thereof means "including without limitation." The use of the word "or" herein is not exclusive. The information contained in the following notes to the condensed consolidated financial statements is condensed from that which would appear in the annual consolidated financial statements; accordingly, the consolidated financial statements included herein should be reviewed in conjunction with the consolidated financial statements for the fiscal year ended December 31, 2019 , and related notes thereto, included in the 2019 Form 10-K filed by the Company with the SEC. The Company is organized specifically to own, operate, and lease towers and other structures (collectively, "towers"), and to a lesser extent, interests in land under third party and related party towers in various forms ("land interests") (collectively, "sites") that are geographically dispersed across the U.S. The Company's core business is providing access, including space or capacity, to its sites via long-term contracts in various forms, including lease, license and sublease agreements (collectively, "tenant contracts"). The Company's customers on its sites are referred to herein as "tenants." Management services related to the Company's sites are performed by Crown Castle USA Inc. ("CCUSA"), an affiliate of the Company, under the Management Agreement, as the Company has no employees. 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 leases or other agreements assumed by T-Mobile following its merger with Sprint completed April 1, 2020 ("T-Mobile Sites"). CCIC, through its subsidiaries (including the Company), has the option to purchase in 2037 all (but not less than all) of the T-Mobile Sites from T-Mobile for approximately $ 2.3 billion . CCIC has no obligation to exercise the purchase option. For U.S federal income tax purposes, CCIC operates as a real estate investment trust ("REIT"), and as its indirect subsidiary, the Company's assets and operations are included in the CCIC REIT. See note 6 . Basis of Presentation The condensed consolidated financial statements included herein are unaudited; however, they include all adjustments (consisting only of normal recurring adjustments) which, in the opinion of management, are necessary to state fairly the consolidated financial position of the Company at September 30, 2020 , the condensed consolidated results of operations for the three and nine months ended September 30, 2020 and 2019 and the condensed consolidated cash flows for the nine months ended September 30, 2020 and 2019 . The year-end condensed consolidated balance sheet data was derived from audited financial statements, but does not include all disclosures required by generally accepted accounting principles in the U.S. ("GAAP"). The results of operations for the interim periods presented are not necessarily indicative of the results to be expected for the full year. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of 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 those estimates. |
Restatement of Financial Statem
Restatement of Financial Statements Restatement of Financials (Notes) | 3 Months Ended |
Sep. 30, 2020 | |
Accounting Changes and Error Corrections [Abstract] | |
Restatement of Financials [Text Block] | Restatement of Previously Issued Condensed Consolidated Financial Statements The tables below summarize the impact of the Restatement Adjustments that were related to the timing of revenue recognition on CCIC's tower installation services. Specifically, CCIC determined that its historical practice of recognizing the full transaction price as services revenues upon completion of an installation was not acceptable under GAAP. Instead, a portion of the transaction price for CCIC's tower installation services, specifically the amounts associated with permanent improvements recorded as fixed assets, represent a lease component and should be recognized by CCIC as site rental revenues on a ratable basis over the associated estimated lease term. CCIC, through its wholly owned subsidiary, offers certain installation and other construction-related services to tenants on the towers owned by CCIC's subsidiaries (including to tenants on the Company's towers). That business is separate from the operations of the Company, and the Company (1) is not party to such transactions and (2) does not receive any cash from such transactions. However, when CCIC is engaged by, and performs an installation or other activity for, a tenant that is locating or located on the Company's towers, and such transaction results in (1) enhancing a tower in connection with a new tenant installing equipment on the tower for the first time or as part of subsequent equipment augmentations or (2) modifying the structure of a tower to accommodate the additional tenant, the Company records any permanent improvement that is made on its tower site as a fixed asset. Historically, in connection with recording such permanent improvements as fixed assets on its financial statements, the Company would also record a corresponding amount as a capital contribution from CCIC. The Company determined that, despite the Company not receiving any cash, an amount equal to the lease component as a result of such installation and other construction-related services should be recorded on the consolidated financial statements as deferred revenue, and then amortized as revenues on a ratable basis over the length of the tenants’ associated estimated lease term. In addition to the determination discussed above, the Company has also determined that errors existed related to its accounting for obligations to perform asset retirement activities pursuant to its ground lease and easement agreements. Specifically, the Company should not have recorded asset retirement obligations for its T-Mobile Sites, as the associated estimated retirement would occur beyond the period for which the Company has a contract term to these sites. The correction of the errors related to the Company's accounting for obligations to perform asset retirement activities resulted in (1) a decrease to both "Property and equipment, net" and "Member's equity" of $4.1 million on the Company's condensed consolidated balance sheet as of September 30, 2019 , and (2) a decrease to "Depreciation, amortization, and accretion" on the Company's condensed consolidated statement of operations of $0.7 million and $2.2 million for the three and nine months ended September 30, 2019 , respectively. The Restatement Adjustments in the tables below reflect the impact of (1) allocating an amount equal to the lease component as a result of such installation and other construction-related services on the condensed consolidated financial statements as deferred revenue, and then amortizing those amounts as amortization of tower installations and modifications on a ratable basis over the length of the tenants’ associated estimated lease term and (2) correcting errors related to the Company's accounting for obligations to perform asset retirement activities. In addition, the Company has also made other adjustments to the financial statements referenced above to correct errors that were not material to its condensed consolidated financial statements. Such immaterial adjustments are related to a revision in the presentation of certain tower installation activities from a gross basis to a net basis, including the associated removal of certain amounts historically categorized as capital expenditures. In addition to the restatement of the condensed consolidated financial statements, certain historical information in the notes to the condensed consolidated financial statements have been restated to reflect the impact of the Historical Adjustments. Condensed Consolidated Balance Sheet September 30, 2019 As Reported Restatement Adjustments Other Adjustments As Restated ASSETS Property and equipment, net $ 1,015,632 $ (4,140 ) $ (2,790 ) $ 1,008,702 Total assets 4,615,994 (4,140 ) (2,790 ) 4,609,064 LIABILITIES AND EQUITY Current liabilities: Deferred revenues (a) 13,390 53,543 — 66,933 Total current liabilities 95,359 53,543 — 148,902 Other long-term liabilities (a) 35,618 165,030 — 200,648 Total liabilities 2,272,787 218,573 — 2,491,360 Member's equity: Member's equity 2,343,207 (222,713 ) (2,790 ) 2,117,704 Total member's equity 2,343,207 (222,713 ) (2,790 ) 2,117,704 Total liabilities and equity $ 4,615,994 $ (4,140 ) $ (2,790 ) $ 4,609,064 (a) Reflects the recording of deferred revenues in connection with the tower installation and modification transactions described in note 5 that result in permanent improvements to the Company's towers. The Company receives no cash from, and is not party to, such transactions. Condensed Consolidated Statement of Operations Three Months Ended September 30, 2019 As Reported Restatement Adjustments Other Adjustments As Restated Site rental revenues: Revenues from tenant contracts $ 171,745 $ — $ — $ 171,745 Amortization of tower installations and modifications (a) — 13,436 — 13,436 Total site rental revenues 171,745 13,436 — 185,181 Operating expenses: Depreciation, amortization and accretion 52,665 (736 ) (48 ) 51,881 Total operating expenses 114,562 (736 ) (48 ) 113,778 Operating income (loss) 57,183 14,172 48 71,403 Income (loss) before income taxes 47,374 14,172 48 61,594 Net income (loss) $ 47,272 $ 14,172 $ 48 $ 61,492 Nine Months Ended September 30, 2019 As Reported Restatement Adjustments Other Adjustments As Restated Site rental revenues: Revenues from tenant contracts $ 507,256 $ — $ — $ 507,256 Amortization of tower installations and modifications (a) — 38,371 — 38,371 Total site rental revenues 507,256 38,371 — 545,627 Operating expenses: Depreciation, amortization and accretion 157,436 (2,208 ) (141 ) 155,087 Total operating expenses 341,471 (2,208 ) (141 ) 339,122 Operating income (loss) 165,785 40,579 141 206,505 Income (loss) before income taxes 136,324 40,579 141 177,044 Net income (loss) $ 136,017 $ 40,579 $ 141 $ 176,737 (a) Represents the amortization of deferred revenues recorded in connection with the tower installation and modification transactions described in note 5 that result in permanent improvements to the Company's towers. The Company receives no cash from, and is not party to, such transactions. Condensed Consolidated Statement of Cash Flows Nine Months Ended September 30, 2019 As Reported Restatement Adjustments Other Adjustments As Restated Cash flows from operating activities: (a) Net income (loss) $ 136,017 $ 40,579 $ 141 $ 176,737 Adjustments to reconcile net income (loss) to net cash provided by operating activities: Depreciation, amortization and accretion 157,436 (2,208 ) (141 ) 155,087 Changes in assets and liabilities: Increase (decrease) in other liabilities 1,617 13,860 — 15,477 Net cash provided by (used for) operating activities 289,983 52,231 — 342,214 Cash flows from investing activities: Capital expenditures (b) (64,403 ) — 199 (64,204 ) Net cash provided by (used for) investing activities (64,403 ) — 199 (64,204 ) Cash flows from financing activities: Distributions to member (225,801 ) (52,231 ) (199 ) (278,231 ) Net cash provided by (used for) financing activities (225,801 ) (52,231 ) (199 ) (278,231 ) Net increase (decrease) in cash and cash equivalents (221 ) — — (221 ) Cash and cash equivalents at beginning of year 18,707 — — 18,707 Cash and cash equivalents at end of year $ 18,486 $ — $ — $ 18,486 (a) The Company receives no cash from, and is not party to, the tower installation and modification transactions described in note 5. Such transactions, however, are reflected on the cash flow statement for GAAP purposes as if an amount equal to the lease component for such transactions had been received by the Company, and, as such, the amounts have been recorded as deferred revenues. (b) Includes permanent improvements recorded in connection with the tower installation and modification transactions described in note 5. The Company receives no cash from, and is not party to, such transactions. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2020 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | Recently Adopted Accounting Pronouncements No accounting pronouncements adopted during the nine months ended September 30, 2020 had a material impact on the Company's condensed consolidated financial statements. Recent Accounting Pronouncements Not Yet Adopted No new accounting pronouncements issued but not yet adopted are expected to have a material impact on the Company's condensed consolidated financial statements. |
Debt and Other Obligations
Debt and Other Obligations | 9 Months Ended |
Sep. 30, 2020 | |
Debt and Other Obligations [Abstract] | |
Debt and Other Obligations | Debt The outstanding balance of the 3.849% Secured Notes due April 2023 as of September 30, 2020 and December 31, 2019 was $996 million and $995 million , respectively. Interest Expense and Amortization of Deferred Financing Costs The components of interest expense and amortization of deferred financing costs are as follows: Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Interest expense on debt obligations $ 9,623 $ 9,623 $ 28,868 $ 28,868 Amortization of deferred financing costs 346 346 1,038 1,038 Total $ 9,969 $ 9,969 $ 29,906 $ 29,906 |
Related Party Transactions
Related Party Transactions | 9 Months Ended |
Sep. 30, 2020 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | Related Party Transactions Pursuant to the 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 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 real estate and personal property taxes, ground lease and easement payments, and insurance premiums). Further, in connection with its role as Manager, CCUSA may offer certain installation and modification services to tenants on the Company's towers; however, the Company receives no cash from, and is not party to, such transactions. The Company includes the deferred revenue for a portion of the transaction price for the tower installation and modification services, which represents a lease component under GAAP, within "Deferred revenues," on the Company's condensed consolidated balance sheet and recognizes it as "Amortization of tower installations and modifications" on the Company's condensed consolidated statement of operations over the associated estimated lease term. The portions of the transaction price which do not represent a lease component are not reflected in the Company's operating results. As part of CCIC's strategy to obtain long-term control of the land interests under its towers, affiliates of the Company have acquired rights to land under the Company's towers. These affiliates then lease the land to the Company, and the Company pays ground rent expenses to the affiliates. Under such circumstances, the Company's obligation typically continues with the same or similar economic terms as the contract for the land that existed prior to the purchase of such land by the affiliate. As of September 30, 2020 , more than 30% of the Company's towers were located on land which was controlled by an affiliate. Also, the Company receives site rental revenues from affiliates for land owned by the Company on which affiliates have towers. For the nine months ended September 30, 2020 and 2019 , the Company recorded equity distributions of $308.0 million and $278.2 million , respectively, reflecting distributions to its member. Cash on-hand above the amount that is required by the Management Agreement has been, and is expected to continue to be, distributed to the Company's parent company. As of September 30, 2020 and 2019 , other than the amounts of its ROU assets and operating lease liabilities related to land leased from affiliates of the Company reflected in "Operating lease right-of-use assets," "Current portion of operating lease liabilities — related parties" and "Operating lease liabilities — related parties," the Company had no material related party assets or liabilities on its condensed consolidated balance sheet. |
Income Taxes
Income Taxes | 9 Months Ended |
Sep. 30, 2020 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | Income Taxes CCIC operates as a REIT for U.S. federal income tax purposes. As a REIT, CCIC is generally entitled to a deduction for dividends that it pays and therefore is not subject to U.S. federal corporate income tax on its net taxable income that is currently distributed to its stockholders. For U.S. federal income tax purposes, the Company's assets and operations are included in the CCIC REIT. For the nine months ended September 30, 2020 and 2019 , the Company's effective tax rate differed from the federal statutory rate predominately due to (1) CCIC's REIT status, including the dividends paid deduction, and (2) state taxes. |
Fair Values
Fair Values | 9 Months Ended |
Sep. 30, 2020 | |
Fair Value Disclosures [Abstract] | |
Fair Value Disclosures | Fair Values The fair value of cash and cash equivalents approximates the carrying value. The Company determines the fair value of its debt securities based on indicative, non-binding quotes from brokers. Quotes from brokers require judgment and are based on the brokers' interpretation of market information, including implied credit spreads for similar borrowings on recent trades or bid/ask prices or quotes from active markets if available. There were no changes since December 31, 2019 , in the Company's valuation techniques used to measure fair values. The estimated fair values of the Company's financial instruments, along with the carrying amounts of the related assets and liabilities, are as follows: Level in Fair Value Hierarchy September 30, 2020 December 31, 2019 Carrying Amount Fair Value Carrying Amount Fair Value Assets: Cash and cash equivalents 1 $ 31,565 $ 31,565 $ 20,407 $ 20,407 Liabilities: Debt 2 996,469 1,075,500 995,431 1,046,200 |
Commitments and Contingencies
Commitments and Contingencies | 9 Months Ended |
Sep. 30, 2020 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | Commitments and Contingencies The Company is involved in various claims, assessments, 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 adverse resolution of such uncertainties and the incurrence of such costs should not have a material adverse effect on the Company's condensed consolidated financial position or results of operations. In addition, see note 1 for a discussion of CCIC's option to purchase approximately 68% of the Company's towers at the end of their respective lease terms. CCIC has no obligation to exercise the purchase option. |
Supplemental Cash Flow Informat
Supplemental Cash Flow Information (Notes) | 9 Months Ended |
Sep. 30, 2020 | |
Supplemental Cash Flow Information [Abstract] | |
Cash Flow, Supplemental Disclosures [Text Block] | Supplemental Cash Flow Information Nine Months Ended September 30, 2020 2019 Supplemental disclosure of cash flow information: Cash payments related to operating lease liabilities (a)(b) $ 80,853 $ 79,643 Interest paid 19,246 19,246 Supplemental disclosure of non-cash operating, investing and financing activities: New ROU assets obtained in exchange for operating lease liabilities (b) 46,234 71,578 Increase (decrease) in accounts payable for purchases of property and equipment (2,758 ) 4,075 (a) Excludes the Company's contingent payments pursuant to operating leases, which are recorded as expense in the period such contingencies are resolved. (b) Inclusive of leases with related parties. See note 5 . |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2020 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | Recently Adopted Accounting Pronouncements No accounting pronouncements adopted during the nine months ended September 30, 2020 had a material impact on the Company's condensed consolidated financial statements. Recent Accounting Pronouncements Not Yet Adopted No new accounting pronouncements issued but not yet adopted are expected to have a material impact on the Company's condensed consolidated financial statements. |
Restatement of Financial Stat_2
Restatement of Financial Statements (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Accounting Changes and Error Corrections [Abstract] | |
Condensed Balance Sheet [Table Text Block] | Condensed Consolidated Balance Sheet September 30, 2019 As Reported Restatement Adjustments Other Adjustments As Restated ASSETS Property and equipment, net $ 1,015,632 $ (4,140 ) $ (2,790 ) $ 1,008,702 Total assets 4,615,994 (4,140 ) (2,790 ) 4,609,064 LIABILITIES AND EQUITY Current liabilities: Deferred revenues (a) 13,390 53,543 — 66,933 Total current liabilities 95,359 53,543 — 148,902 Other long-term liabilities (a) 35,618 165,030 — 200,648 Total liabilities 2,272,787 218,573 — 2,491,360 Member's equity: Member's equity 2,343,207 (222,713 ) (2,790 ) 2,117,704 Total member's equity 2,343,207 (222,713 ) (2,790 ) 2,117,704 Total liabilities and equity $ 4,615,994 $ (4,140 ) $ (2,790 ) $ 4,609,064 (a) Reflects the recording of deferred revenues in connection with the tower installation and modification transactions described in note 5 that result in permanent improvements to the Company's towers. The Company receives no cash from, and is not party to, such transactions. |
Condensed Income Statement [Table Text Block] | Condensed Consolidated Statement of Operations Three Months Ended September 30, 2019 As Reported Restatement Adjustments Other Adjustments As Restated Site rental revenues: Revenues from tenant contracts $ 171,745 $ — $ — $ 171,745 Amortization of tower installations and modifications (a) — 13,436 — 13,436 Total site rental revenues 171,745 13,436 — 185,181 Operating expenses: Depreciation, amortization and accretion 52,665 (736 ) (48 ) 51,881 Total operating expenses 114,562 (736 ) (48 ) 113,778 Operating income (loss) 57,183 14,172 48 71,403 Income (loss) before income taxes 47,374 14,172 48 61,594 Net income (loss) $ 47,272 $ 14,172 $ 48 $ 61,492 Nine Months Ended September 30, 2019 As Reported Restatement Adjustments Other Adjustments As Restated Site rental revenues: Revenues from tenant contracts $ 507,256 $ — $ — $ 507,256 Amortization of tower installations and modifications (a) — 38,371 — 38,371 Total site rental revenues 507,256 38,371 — 545,627 Operating expenses: Depreciation, amortization and accretion 157,436 (2,208 ) (141 ) 155,087 Total operating expenses 341,471 (2,208 ) (141 ) 339,122 Operating income (loss) 165,785 40,579 141 206,505 Income (loss) before income taxes 136,324 40,579 141 177,044 Net income (loss) $ 136,017 $ 40,579 $ 141 $ 176,737 (a) Represents the amortization of deferred revenues recorded in connection with the tower installation and modification transactions described in note 5 that result in permanent improvements to the Company's towers. The Company receives no cash from, and is not party to, such transactions. |
Condensed Cash Flow Statement [Table Text Block] | Condensed Consolidated Statement of Cash Flows Nine Months Ended September 30, 2019 As Reported Restatement Adjustments Other Adjustments As Restated Cash flows from operating activities: (a) Net income (loss) $ 136,017 $ 40,579 $ 141 $ 176,737 Adjustments to reconcile net income (loss) to net cash provided by operating activities: Depreciation, amortization and accretion 157,436 (2,208 ) (141 ) 155,087 Changes in assets and liabilities: Increase (decrease) in other liabilities 1,617 13,860 — 15,477 Net cash provided by (used for) operating activities 289,983 52,231 — 342,214 Cash flows from investing activities: Capital expenditures (b) (64,403 ) — 199 (64,204 ) Net cash provided by (used for) investing activities (64,403 ) — 199 (64,204 ) Cash flows from financing activities: Distributions to member (225,801 ) (52,231 ) (199 ) (278,231 ) Net cash provided by (used for) financing activities (225,801 ) (52,231 ) (199 ) (278,231 ) Net increase (decrease) in cash and cash equivalents (221 ) — — (221 ) Cash and cash equivalents at beginning of year 18,707 — — 18,707 Cash and cash equivalents at end of year $ 18,486 $ — $ — $ 18,486 (a) The Company receives no cash from, and is not party to, the tower installation and modification transactions described in note 5. Such transactions, however, are reflected on the cash flow statement for GAAP purposes as if an amount equal to the lease component for such transactions had been received by the Company, and, as such, the amounts have been recorded as deferred revenues. (b) Includes permanent improvements recorded in connection with the tower installation and modification transactions described in note 5. The Company receives no cash from, and is not party to, such transactions. |
Debt and Other Obligations Inte
Debt and Other Obligations Interest Expense and Amortization of Deferred Financing Costs (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Debt Disclosure [Abstract] | |
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: Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Interest expense on debt obligations $ 9,623 $ 9,623 $ 28,868 $ 28,868 Amortization of deferred financing costs 346 346 1,038 1,038 Total $ 9,969 $ 9,969 $ 29,906 $ 29,906 |
Fair Value Disclosures (Tables)
Fair Value Disclosures (Tables) | 9 Months Ended |
Sep. 30, 2020 | |
Fair Value Disclosures [Abstract] | |
Estimated Fair Values and Carrying Amounts of Assets and Liabilities | The estimated fair values of the Company's financial instruments, along with the carrying amounts of the related assets and liabilities, are as follows: Level in Fair Value Hierarchy September 30, 2020 December 31, 2019 Carrying Amount Fair Value Carrying Amount Fair Value Assets: Cash and cash equivalents 1 $ 31,565 $ 31,565 $ 20,407 $ 20,407 Liabilities: Debt 2 996,469 1,075,500 995,431 1,046,200 |
Supplemental Cash Flow Inform_2
Supplemental Cash Flow Information (Tables) - USD ($) $ in Thousands | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | ||
Supplemental Cash Flow Information [Abstract] | |||
Cash payments related to operating lease liabilities | [1],[2] | $ 80,853 | $ 79,643 |
New ROU assets obtained in exchange for operating lease liabilities | [2] | $ 46,234 | $ 71,578 |
[1] | Excludes the Company's contingent payments pursuant to operating leases, which are recorded as expense in the period such contingencies are resolved. | ||
[2] | Inclusive of leases with related parties. See note 5 . |
General Business (Details)
General Business (Details) - Leased or Operated Under Sprint Master Lease Agreements [Member] $ in Billions | Sep. 30, 2020USD ($) |
Site count as a percentage of total sites | 68.00% |
Purchase option price | $ 2.3 |
Restatement of Financial Stat_3
Restatement of Financial Statements (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | Dec. 31, 2019 | |
Property, Plant and Equipment, Net | $ 972,323 | $ 1,008,702 | $ 972,323 | $ 1,008,702 | $ 1,010,367 |
Depreciation, amortization and accretion | $ 53,048 | 51,881 | $ 158,138 | 155,087 | |
Revision of Prior Period, Adjustment [Member] | |||||
Property, Plant and Equipment, Net | (4,140) | (4,140) | |||
Depreciation, amortization and accretion | $ (736) | $ (2,208) |
Restatement of Financial Stat_4
Restatement of Financial Statements Restated Condensed Consolidated Balance Sheet (Details) - USD ($) $ in Thousands | Sep. 30, 2020 | Jun. 30, 2020 | Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Dec. 31, 2018 | ||||
Property, Plant and Equipment, Net | $ 972,323 | $ 1,010,367 | $ 1,008,702 | |||||||
Assets | 4,508,957 | 4,601,457 | 4,609,064 | |||||||
Deferred revenues | 87,503 | [1] | 70,217 | [1] | 66,933 | [2] | ||||
Liabilities, Current | 173,283 | 144,722 | 148,902 | |||||||
Other Liabilities, Noncurrent | 194,620 | [1] | 203,470 | [1] | 200,648 | [2] | ||||
Liabilities | 2,535,998 | 2,504,503 | 2,491,360 | |||||||
Member's equity | 1,972,959 | 2,096,954 | 2,117,704 | |||||||
Total member's equity | 1,972,959 | $ 2,022,376 | 2,096,954 | 2,117,704 | $ 2,156,857 | $ 2,219,198 | ||||
Liabilities and Equity | $ 4,508,957 | $ 4,601,457 | 4,609,064 | |||||||
Previously Reported [Member] | ||||||||||
Property, Plant and Equipment, Net | 1,015,632 | |||||||||
Assets | 4,615,994 | |||||||||
Deferred revenues | [2] | 13,390 | ||||||||
Liabilities, Current | 95,359 | |||||||||
Other Liabilities, Noncurrent | [2] | 35,618 | ||||||||
Liabilities | 2,272,787 | |||||||||
Member's equity | 2,343,207 | |||||||||
Total member's equity | 2,343,207 | |||||||||
Liabilities and Equity | 4,615,994 | |||||||||
Revision of Prior Period, Adjustment [Member] | ||||||||||
Property, Plant and Equipment, Net | (4,140) | |||||||||
Assets | (4,140) | |||||||||
Deferred revenues | [2] | 53,543 | ||||||||
Liabilities, Current | 53,543 | |||||||||
Other Liabilities, Noncurrent | [2] | 165,030 | ||||||||
Liabilities | 218,573 | |||||||||
Member's equity | (222,713) | |||||||||
Total member's equity | (222,713) | |||||||||
Liabilities and Equity | (4,140) | |||||||||
Other Adjustment [Member] | ||||||||||
Property, Plant and Equipment, Net | (2,790) | |||||||||
Assets | (2,790) | |||||||||
Deferred revenues | [2] | 0 | ||||||||
Liabilities, Current | 0 | |||||||||
Other Liabilities, Noncurrent | [2] | 0 | ||||||||
Liabilities | 0 | |||||||||
Member's equity | (2,790) | |||||||||
Total member's equity | (2,790) | |||||||||
Liabilities and Equity | $ (2,790) | |||||||||
[1] | Reflects the recording of deferred revenues in connection with the tower installation and modification transactions described in note 5 that result in permanent improvements to the Company's towers. The Company receives no cash from, and is not party to, such transactions. | |||||||||
[2] | Reflects the recording of deferred revenues in connection with the tower installation and modification transactions described in note 5 that result in permanent improvements to the Company's towers. The Company receives no cash from, and is not party to, such transactions. |
Restatement of Financial Stat_5
Restatement of Financial Statements Restated Condensed Consolidated Statement of Operations (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | ||||
Revenues from tenant contracts | $ 173,348 | $ 171,745 | $ 517,041 | $ 507,256 | |||
Amortization of tower installations and modifications | [1] | 14,818 | 13,436 | [2] | 43,639 | 38,371 | [2] |
Total site rental revenues | 188,166 | 185,181 | 560,680 | 545,627 | |||
Depreciation, amortization and accretion | 53,048 | 51,881 | 158,138 | 155,087 | |||
Total operating expenses | 116,218 | 113,778 | 346,549 | 339,122 | |||
Operating income (loss) | 71,948 | 71,403 | 214,131 | 206,505 | |||
Income (loss) before income taxes | 61,967 | 61,594 | 184,299 | 177,044 | |||
Net income (loss) | $ 61,887 | 61,492 | $ 184,007 | 176,737 | |||
Previously Reported [Member] | |||||||
Revenues from tenant contracts | 171,745 | 507,256 | |||||
Amortization of tower installations and modifications | [2] | 0 | 0 | ||||
Total site rental revenues | 171,745 | 507,256 | |||||
Depreciation, amortization and accretion | 52,665 | 157,436 | |||||
Total operating expenses | 114,562 | 341,471 | |||||
Operating income (loss) | 57,183 | 165,785 | |||||
Income (loss) before income taxes | 47,374 | 136,324 | |||||
Net income (loss) | 47,272 | 136,017 | |||||
Revision of Prior Period, Adjustment [Member] | |||||||
Revenues from tenant contracts | 0 | 0 | |||||
Amortization of tower installations and modifications | [2] | 13,436 | 38,371 | ||||
Total site rental revenues | 13,436 | 38,371 | |||||
Depreciation, amortization and accretion | (736) | (2,208) | |||||
Total operating expenses | (736) | (2,208) | |||||
Operating income (loss) | 14,172 | 40,579 | |||||
Income (loss) before income taxes | 14,172 | 40,579 | |||||
Net income (loss) | 14,172 | 40,579 | |||||
Other Adjustment [Member] | |||||||
Revenues from tenant contracts | 0 | 0 | |||||
Amortization of tower installations and modifications | [2] | 0 | 0 | ||||
Total site rental revenues | 0 | 0 | |||||
Depreciation, amortization and accretion | (48) | (141) | |||||
Total operating expenses | (48) | (141) | |||||
Operating income (loss) | 48 | 141 | |||||
Income (loss) before income taxes | 48 | 141 | |||||
Net income (loss) | $ 48 | $ 141 | |||||
[1] | Represents the amortization of deferred revenues recorded in connection with the tower installation and modification transactions described in note 5 that result in permanent improvements to the Company's towers. The Company receives no cash from, and is not party to, such transactions. | ||||||
[2] | Represents the amortization of deferred revenues recorded in connection with the tower installation and modification transactions described in note 5 that result in permanent improvements to the Company's towers. The Company receives no cash from, and is not party to, such transactions. |
Restatement of Financial Stat_6
Restatement of Financial Statements Restated Condensed Consolidated Statement of Cash Flows (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |||
Net income (loss) | $ 61,887 | $ 61,492 | $ 184,007 | $ 176,737 | ||
Depreciation, amortization and accretion | 53,048 | 51,881 | 158,138 | 155,087 | ||
Increase (decrease) in other liabilities | 6,800 | 15,477 | ||||
Net cash provided by (used for) operating activities | [1] | 356,339 | 342,214 | [2] | ||
Capital expenditures | [3] | (37,179) | (64,204) | [4] | ||
Net cash provided by (used for) investing activities | (37,179) | (64,204) | ||||
Distributions to member | [5] | (111,304) | (100,645) | (308,002) | (278,231) | |
Net cash provided by (used for) financing activities | (308,002) | (278,231) | ||||
Net increase (decrease) in cash and cash equivalents | 11,158 | (221) | ||||
Cash and cash equivalents at beginning of period | 20,407 | 18,707 | ||||
Cash and cash equivalents at end of period | $ 31,565 | 18,486 | $ 31,565 | 18,486 | ||
Revision of Prior Period, Adjustment [Member] | ||||||
Net income (loss) | 14,172 | 40,579 | ||||
Depreciation, amortization and accretion | (736) | (2,208) | ||||
Increase (decrease) in other liabilities | 13,860 | |||||
Net cash provided by (used for) operating activities | [2] | 52,231 | ||||
Capital expenditures | [4] | 0 | ||||
Net cash provided by (used for) investing activities | 0 | |||||
Distributions to member | (52,231) | |||||
Net cash provided by (used for) financing activities | (52,231) | |||||
Net increase (decrease) in cash and cash equivalents | 0 | |||||
Cash and cash equivalents at beginning of period | 0 | |||||
Cash and cash equivalents at end of period | 0 | 0 | ||||
Other Adjustment [Member] | ||||||
Net income (loss) | 48 | 141 | ||||
Depreciation, amortization and accretion | (48) | (141) | ||||
Increase (decrease) in other liabilities | 0 | |||||
Net cash provided by (used for) operating activities | [2] | 0 | ||||
Capital expenditures | [4] | 199 | ||||
Net cash provided by (used for) investing activities | 199 | |||||
Distributions to member | (199) | |||||
Net cash provided by (used for) financing activities | (199) | |||||
Net increase (decrease) in cash and cash equivalents | 0 | |||||
Cash and cash equivalents at beginning of period | 0 | |||||
Cash and cash equivalents at end of period | 0 | 0 | ||||
Previously Reported [Member] | ||||||
Net income (loss) | 47,272 | 136,017 | ||||
Depreciation, amortization and accretion | 52,665 | 157,436 | ||||
Increase (decrease) in other liabilities | 1,617 | |||||
Net cash provided by (used for) operating activities | [2] | 289,983 | ||||
Capital expenditures | [4] | (64,403) | ||||
Net cash provided by (used for) investing activities | (64,403) | |||||
Distributions to member | (225,801) | |||||
Net cash provided by (used for) financing activities | (225,801) | |||||
Net increase (decrease) in cash and cash equivalents | (221) | |||||
Cash and cash equivalents at beginning of period | 18,707 | |||||
Cash and cash equivalents at end of period | $ 18,486 | $ 18,486 | ||||
[1] | The Company receives no cash from, and is not party to, the tower installation and modification transactions described in note 5. Such transactions, however, are reflected on the cash flow statement for GAAP purposes as if an amount equal to the lease component for such transactions had been received by the Company, and, as such, the amounts have been recorded as deferred revenues. | |||||
[2] | The Company receives no cash from, and is not party to, the tower installation and modification transactions described in note 5. Such transactions, however, are reflected on the cash flow statement for GAAP purposes as if an amount equal to the lease component for such transactions had been received by the Company, and, as such, the amounts have been recorded as deferred revenues. | |||||
[3] | Includes permanent improvements recorded in connection with the tower installation and modification transactions described in note 5. The Company receives no cash from, and is not party to, such transactions. | |||||
[4] | Includes permanent improvements recorded in connection with the tower installation and modification transactions described in note 5. The Company receives no cash from, and is not party to, such transactions. | |||||
[5] | See note 5 . The Company receives no cash from, and is not party to, the tower installation and modification transactions described in note 5 . |
Debt and Other Obligations (Ind
Debt and Other Obligations (Indebtedness) (Details) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 |
Debt Instrument [Line Items] | ||
Debt | $ 996,469 | $ 995,431 |
2012 secured notes tranche B [Member] | ||
Debt Instrument [Line Items] | ||
Stated interest rate | 3.849% |
Debt and Other Obligations (Com
Debt and Other Obligations (Components of Interest Expense and Amortization of Deferred Financing Costs) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Debt and Other Obligations [Abstract] | ||||
Interest expense on debt obligations | $ 9,623 | $ 9,623 | $ 28,868 | $ 28,868 |
Amortization of deferred financing costs | 346 | 346 | 1,038 | 1,038 |
Total | $ 9,969 | $ 9,969 | $ 29,906 | $ 29,906 |
Related Party Transactions (Det
Related Party Transactions (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | ||
Related Party Transaction [Line Items] | |||||
Management Fee, Percent Fee | 7.50% | ||||
Distributions to member | [1] | $ (111,304) | $ (100,645) | $ (308,002) | $ (278,231) |
Affiliated Entity [Member] | |||||
Related Party Transaction [Line Items] | |||||
Related Party Transaction, Percentage of Towers Where Land is Owned by Related Party | 30.00% | 30.00% | |||
[1] | See note 5 . The Company receives no cash from, and is not party to, the tower installation and modification transactions described in note 5 . |
Fair Value Disclosures (Estimat
Fair Value Disclosures (Estimated Fair Values and Carrying Amounts of Assets and Liabilities) (Details) - USD ($) $ in Thousands | Sep. 30, 2020 | Dec. 31, 2019 | Sep. 30, 2019 | Dec. 31, 2018 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Cash and cash equivalents, carrying value | $ 31,565 | $ 20,407 | $ 18,486 | $ 18,707 |
Debt | 996,469 | 995,431 | ||
Fair Value, Inputs, Level 1 [Member] | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Cash and Cash Equivalents, Fair Value Disclosure | 31,565 | 20,407 | ||
Fair Value, Inputs, Level 2 [Member] | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Debt And Capital Lease Obligations Fair Value Disclosures | $ 1,075,500 | $ 1,046,200 |
Commitments and Contingencies T
Commitments and Contingencies Tower count as a percentage of total towers (Details) | Sep. 30, 2020 |
Leased or Operated Under Sprint Master Lease Agreements [Member] | |
Contractual Terms [Line Items] | |
Site count as a percentage of total sites | 68.00% |
Supplemental Cash Flow Inform_3
Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands | 9 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | ||
Supplemental Cash Flow Information [Abstract] | |||
Cash payments related to operating lease liabilities | [1],[2] | $ 80,853 | $ 79,643 |
Interest Paid | 19,246 | 19,246 | |
Increase (Decrease) in accounts payable for purchases of property and equipment | (2,758) | 4,075 | |
New ROU assets obtained in exchange for operating lease liabilities | [2] | $ 46,234 | $ 71,578 |
[1] | Excludes the Company's contingent payments pursuant to operating leases, which are recorded as expense in the period such contingencies are resolved. | ||
[2] | Inclusive of leases with related parties. See note 5 . |