SBA Communications Corporation (SBAC) Financial Statements (2024 and earlier)

Company Profile

Business Address 8051 CONGRESS AVENUE
BOCA RATON, FL 33487
State of Incorp. FL
Fiscal Year End December 31
Industry (SIC) 6798 - Real Estate Investment Trusts (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in millions)

12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments14536730910814369
Cash and cash equivalents14436730910814369
Short-term investments1     
Restricted cash and investments426632303233
Receivables1841027413212291
Prepaid expense111183 33
Contract with customer, asset, after allowance for credit loss80493526 
Other current assets181611331817
Costs in excess of billings2417
Other undisclosed current assets335234 
Total current assets:483614473334374260
Noncurrent Assets
Finance lease, right-of-use asset, after accumulated amortization   45
Operating lease, right-of-use asset2,3822,2682,3692,568
Property, plant and equipment2,7142,5752,6772,7952,7862,812
Intangible assets, net (including goodwill)2,7762,8033,1563,6273,3313,598
Intangible assets, net (excluding goodwill)2,7762,8033,1563,6273,3313,598
Other noncurrent assets722576478432722650
Other undisclosed noncurrent assets1,508964    
Total noncurrent assets:10,1029,1878,6859,4266,8407,061
TOTAL ASSETS:10,5859,8029,1589,7607,2147,320
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities153151227149147152
Interest and dividends payable4954494949
Accounts payable5134110323433
Accrued liabilities1016863686470
Deferred revenue155184113114
Debt26262576994220
Other liabilities49181417109
Deferred revenue and credits10898
Other undisclosed current liabilities314237235   
Total current liabilities:6976166151,0481,206279
Noncurrent Liabilities
Long-term debt and lease obligation12,84714,26013,16612,0928,9979,291
Long-term debt, excluding current maturities12,84412,27911,0729,8128,9979,291
Finance lease, liability3223
Liabilities, other than long-term debt2,286191186271387350
Other liabilities248191186271387350
Operating lease, liability2,0371,9792,0922,277
Total noncurrent liabilities:15,13314,45213,35212,3639,3849,640
Total liabilities:15,83015,06813,96713,41110,5919,919
Temporary equity, carrying amount32171516  
Equity
Equity, attributable to parent(5,276)(5,283)(4,824)(3,667)(3,377)(2,599)
Common stock111111
Additional paid in capital2,7952,6812,5862,4612,2702,167
Accumulated other comprehensive loss(591)(762)(808)(569)(512)(379)
Accumulated deficit(7,482)(7,204)(6,604)(5,561)(5,136)(4,388)
Total equity:(5,276)(5,283)(4,824)(3,667)(3,377)(2,599)
TOTAL LIABILITIES AND EQUITY:10,5859,8029,1589,7607,2147,320

Income Statement (P&L) ($ in millions)

12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Revenues2,6332,3092,0832,0151,8661,728
Revenue, net1,7401,623
Operating lease, lease income2,3372,1041,9541,861
Cost of revenue(669)(545)(477)(493)(469)(446)
Cost of goods and services sold(223)(159)(103)(119)  
Gross profit:1,9651,7631,6071,5221,3971,281
Operating expenses(270)(226)(202)(204)(143)(131)
Other undisclosed operating loss(769)(754)(771)(734)(710)(692)
Operating income:925782634583544459
Nonoperating expense(400)(530)(651)(397)(492)(342)
Investment income, nonoperating(344)(349)(365)(385)(369)(312)
Other nonoperating income (expense)10(74)(222)14(86)(2)
Interest and debt expense(0)(37)(18)(0)(14)(2)
Other undisclosed income from continuing operations before equity method investments, income taxes   180142
Income (loss) from continuing operations before equity method investments, income taxes:525216(18)18752117
Other undisclosed income from continuing operations before income taxes037    
Income (loss) from continuing operations before income taxes:526253(18)18752117
Income tax expense (benefit)(66)(15)42(40)(4)(13)
Income from continuing operations:4602382414747104
Income before gain (loss) on sale of properties:2382414747104
Net income:4602382414747104
Net income (loss) attributable to noncontrolling interest2 0(0)  
Net income available to common stockholders, diluted:4612382414747104

Comprehensive Income ($ in millions)

12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Net income:4602382414747104
Other undisclosed comprehensive income (loss)17245(239)(57)  
Comprehensive income (loss):631283(215)9047104
Comprehensive income (loss), net of tax, attributable to noncontrolling interest2 0(1)  
Other undisclosed comprehensive loss, net of tax, attributable to parent     (132)(9)
Comprehensive income (loss), net of tax, attributable to parent:633283(215)90(85)94

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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