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 thousands)

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments201,548154,636145,039222,350223,865264,369
Cash and cash equivalents179,169152,772143,708201,211183,067263,569
Short-term investments22,3791,8641,33121,13940,798800
Restricted cash and investments72,07736,61541,95975,16664,49569,781
Receivables160,311183,134184,368116,966115,137121,583
Prepaid expense13,34810,50010,6397,0709,23210,093
Contract with customer, asset, after allowance for credit loss42,14658,81579,54981,66554,78148,028
Other current assets23,81424,25617,84622,09625,37822,852
Other undisclosed current assets5,3733,5943,3334,5002,0112,717
Total current assets:518,617471,550482,733529,813494,899539,423
Noncurrent Assets
Operating lease, right-of-use asset2,362,2542,376,6092,381,9552,325,0092,355,8812,362,287
Property, plant and equipment2,712,2012,709,7842,713,7272,658,3662,677,9832,674,679
Intangible assets, net (including goodwill)2,628,0772,693,8832,776,4722,701,9392,800,5622,909,789
Intangible assets, net (excluding goodwill)2,628,0772,693,8832,776,4722,701,9392,800,5622,909,789
Other noncurrent assets855,251771,055722,373744,202679,827638,414
Other undisclosed noncurrent assets1,528,0701,518,6481,507,781989,6851,002,7851,017,508
Total noncurrent assets:10,085,85310,069,97910,102,3089,419,2019,517,0389,602,677
TOTAL ASSETS:10,604,47010,541,52910,585,0419,949,01410,011,93710,142,100
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities131,148146,350152,911207,875207,777144,921
Interest and dividends payable25,10650,84123,710
Taxes payable10,1189,702
Employee-related liabilities25,16120,082
Accounts payable47,02753,55351,42751,31441,45540,583
Accrued liabilities84,12192,797101,48496,17685,69780,628
Deferred revenue230,072145,399154,553216,927199,829195,553
Debt24,00024,00026,283663,181662,720662,264
Other liabilities23,23724,51148,76230,06621,08621,367
Other undisclosed current liabilities329,932298,523314,255220,330226,788254,448
Total current liabilities:738,389638,783696,7641,338,3791,318,2001,278,553
Noncurrent Liabilities
Long-term debt and lease obligation12,571,93112,797,82812,847,29411,696,06811,817,50411,969,068
Long-term debt, excluding current maturities12,571,93112,797,82812,844,16211,696,06811,817,50411,969,068
Finance lease, liability   3,132   
Liabilities, other than long-term debt330,842302,7212,285,563221,022227,578232,799
Other liabilities330,842302,721248,067221,022227,578232,799
Operating lease, liability   2,037,496   
Other undisclosed noncurrent liabilities2,018,0652,033,167 2,017,7602,047,3852,050,790
Total noncurrent liabilities:14,920,83815,133,71615,132,85713,934,85014,092,46714,252,657
Total liabilities:15,659,22715,772,49915,829,62115,273,22915,410,66715,531,210
Temporary equity, carrying amount37,57338,18431,73540,61539,88136,037
Equity
Equity, attributable to parent(5,092,330)(5,269,154)(5,276,315)(5,364,830)(5,438,611)(5,425,147)
Common stock1,0841,0831,0801,0801,0791,078
Additional paid in capital2,824,9942,800,0462,795,1762,756,2152,717,9632,688,835
Accumulated other comprehensive loss(555,570)(596,370)(590,510)(613,894)(626,473)(591,364)
Accumulated deficit(7,362,838)(7,473,913)(7,482,061)(7,508,231)(7,531,180)(7,523,696)
Total equity:(5,092,330)(5,269,154)(5,276,315)(5,364,830)(5,438,611)(5,425,147)
TOTAL LIABILITIES AND EQUITY:10,604,47010,541,52910,585,0419,949,01410,011,93710,142,100

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

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
Revenues678,500675,516686,094675,584652,006619,770
Operating lease, lease income626,143617,268609,608587,302580,233559,432
Cost of revenue(154,250)(164,304)(172,159)(177,553)(166,012)(152,928)
Cost of goods and services sold(39,236)(44,185)(57,156)(65,540)(54,497)(45,773)
Gross profit:524,250511,212513,935498,031485,994466,842
Operating expenses(88,595)(74,163)(75,108)(67,118)(65,007)(62,714)
Other undisclosed operating loss(194,428)(212,908)(204,165)(187,926)(190,009)(187,349)
Operating income:241,227224,141234,662242,987230,978216,779
Nonoperating income (expense)(68,435)(80,079)(105,837)(140,342)(165,390)12,004
Investment income, nonoperating(96,605)(98,410)(97,001)(84,103)(82,798)(79,750)
Other nonoperating income (expense)40,73237,5588,205(39,756)(66,141)108,161
Other undisclosed loss from continuing operations before equity method investments, income taxes   (437)   
Income from continuing operations before equity method investments, income taxes:172,792144,062128,388102,64565,588228,783
Other undisclosed income from continuing operations before income taxes   437   
Income from continuing operations before income taxes:172,792144,062128,825102,64565,588228,783
Income tax expense (benefit)29,178(43,508)(26,247)(2,883)3,563(40,477)
Income from continuing operations:201,970100,554102,57899,76269,151188,306
Income before gain (loss) on sale of properties:99,76269,151188,306
Net income:201,970100,554102,57899,76269,151188,306
Net income attributable to noncontrolling interest1,678663701247365317
Net income available to common stockholders, diluted:203,648101,217103,279100,00969,516188,623

Comprehensive Income ($ in thousands)

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
Net income:201,970100,554102,57899,76269,151188,306
Other undisclosed comprehensive income (loss)40,345(5,860)23,38112,579(35,188)170,828
Comprehensive income:242,31594,694125,959112,34133,963359,134
Comprehensive income, net of tax, attributable to noncontrolling interest2,133663704247444434
Comprehensive income, net of tax, attributable to parent:244,44895,357126,663112,58834,407359,568

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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