American Tower Files 10-Q, Details Senior Notes

TL;DR

AMT 10-Q filed: shows debt maturing through 2031. All good.

AI Summary

American Tower Corporation (AMT) filed its 10-Q for the period ending June 30, 2024. The filing details the company's financial performance and operational status, including various senior notes due in upcoming years such as 2025, 2026, 2027, 2028, 2029, and 2030. The company is based in Boston, MA, and operates within the Real Estate Investment Trusts sector.

Why It Matters

This filing provides investors with crucial updates on American Tower's financial health and debt obligations, impacting its ability to fund operations and future growth.

Risk Assessment

Risk Level: low — The filing is a routine quarterly report and does not indicate any immediate or significant new risks.

Key Players & Entities

• AMERICAN TOWER CORP /MA/ (company) — Filer
• 20240630 (date) — Reporting Period End Date
• 116 HUNTINGTON AVE (address) — Business and Mail Address
• BOSTON (city) — Business and Mail City
• MA (state) — Business and Mail State
• 02116 (zip_code) — Business and Mail Zip Code
• 6173757500 (phone_number) — Business Phone Number
• A1375SeniorNotesDue2025Member (debt_instrument) — Senior Notes Due 2025
• A1950SeniorNotesDue2026Member (debt_instrument) — Senior Notes Due 2026
• A0450SeniorNotesDue2027Member (debt_instrument) — Senior Notes Due 2027

FAQ

Key Financial Figures

• $0.01 — ange on which registered Common Stock, $0.01 par value AMT New York Stock Exchange

Filing Documents

• amt-20240630.htm (10-Q) — 2425KB
• exhibit101q22024.htm (EX-10.1) — 24KB
• exhibit311q22024.htm (EX-31.1) — 12KB
• exhibit312q22024.htm (EX-31.2) — 13KB
• exhibit32q22024.htm (EX-32) — 8KB
• 0001053507-24-000105.txt ( ) — 12692KB
• amt-20240630.xsd (EX-101.SCH) — 74KB
• amt-20240630_cal.xml (EX-101.CAL) — 89KB
• amt-20240630_def.xml (EX-101.DEF) — 436KB
• amt-20240630_lab.xml (EX-101.LAB) — 848KB
• amt-20240630_pre.xml (EX-101.PRE) — 665KB
• amt-20240630_htm.xml (XML) — 2358KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Unaudited Consolidated and Condensed Consolidated Financial Statements

Item 1. Unaudited Consolidated and Condensed Consolidated Financial Statements 1 Consolidated Balance Sheets as of June 30, 2024 and December 31, 2023 1 Consolidated Statements of Operations for the three and six months ended June 30, 2024 and 2023 2 Consolidated Statements of Comprehensive Income for the three and six months ended June 30, 2024 and 2023 3 Consolidated Statements of Cash Flows for the six months ended June 30, 2024 and 2023 4 Consolidated Statements of Equity for the three and six months ended June 30, 2024 and 2023 5 Notes to Consolidated and Condensed Consolidated Financial Statements 6

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 30

Quantitative and Qualitative Disclosures about Market Risk

Item 3. Quantitative and Qualitative Disclosures about Market Risk 56

Controls and Procedures

Item 4. Controls and Procedures 56

OTHER INFORMATION

PART II. OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 57

Risk Factors

Item 1A. Risk Factors 57

Other Information

Item 5. Other Information 57

Exhibits

Item 6. Exhibits 58

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

UNAUDITED CONSOLIDATED AND CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

ITEM 1. UNAUDITED CONSOLIDATED AND CONDENSED CONSOLIDATED FINANCIAL STATEMENTS AMERICAN TOWER CORPORATION AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (in millions, except share count and per share data) June 30, 2024 December 31, 2023 ASSETS CURRENT ASSETS: Cash and cash equivalents $ 2,492.1 $ 1,973.3 Restricted cash 126.5 120.1 Accounts receivable, net 712.3 669.7 Prepaid and other current assets 783.2 946.9 Total current assets 4,114.1 3,710.0 PROPERTY AND EQUIPMENT, net 19,927.7 19,788.8 GOODWILL 12,483.1 12,639.0 OTHER INTANGIBLE ASSETS, net 15,759.1 16,520.7 DEFERRED TAX ASSET 139.2 179.1 DEFERRED RENT ASSET 3,649.5 3,521.8 RIGHT-OF-USE ASSET 9,012.1 8,878.8 NOTES RECEIVABLE AND OTHER NON-CURRENT ASSETS 753.0 789.4 TOTAL $ 65,837.8 $ 66,027.6 LIABILITIES CURRENT LIABILITIES: Accounts payable $ 206.0 $ 258.7 Accrued expenses 1,166.2 1,280.6 Distributions payable 778.1 906.2 Accrued interest 314.1 387.0 Current portion of operating lease liability 703.4 794.6 Current portion of long-term obligations 3,329.2 3,187.5 Unearned revenue 391.7 434.7 Total current liabilities 6,888.7 7,249.3 LONG-TERM OBLIGATIONS 35,639.2 35,734.0 OPERATING LEASE LIABILITY 7,717.7 7,438.7 ASSET RETIREMENT OBLIGATIONS 2,562.3 2,158.2 DEFERRED TAX LIABILITY 1,399.3 1,361.4 OTHER NON-CURRENT LIABILITIES 1,207.1 1,220.6 Total liabilities 55,414.3 55,162.2 COMMITMENTS AND CONTINGENCIES EQUITY (shares in thousands): Common stock: $ 0.01 par value; 1,000,000 shares authorized; 478,081 and 477,300 shares issued; and 467,077 and 466,296 shares outstanding, respectively 4.8 4.8 Additional paid-in capital 14,955.0 14,872.9 Distributions in excess of earnings ( 3,340.8 ) ( 3,638.8 ) Accumulated other comprehensive loss ( 6,461.8 ) ( 5,739.5 ) Treasury stock ( 11,004 shares at cost) ( 1,301.2 ) ( 1,301.2 ) Total American Tower Corporation equity 3,856.0 4,198.2 Noncontrolling interests 6,567.5 6,667.2 Total equity 10,423.5 10,865.4 TOTAL $ 65,8

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View this 10-Q filing on SEC EDGAR