AMERICAN TOWER CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued) The following table presents summary operating results of the discontinued operations for the years ended December 31, (in thousands):
## Table 0 ##
As of December 31, 2004, the Company had assets owned by its Kline Iron & Steel Co, Inc.  (Kline) subsidiary held for sale that were comprised of property and equipment, net of $3.4 million.
The following businesses have been reflected as discontinued operations in the accompanying consolidated statements of operations for all periods presented.
Impairment charges and gains/losses are presented net of taxes.
Tower Construction Services Unit—In November 2004, the Company consummated the sale of its tower construction services unit (previously included in the Company’s network development services segment), including $3.9 million of inventory and $5.2 million of net property and equipment.
Total consideration was approximately $9.1 million, including $6.8 million of cash proceeds, subject to adjustment, and the buyer’s assumption of $2.3 million of capital lease obligations.
Pursuant to this transaction, the Company recorded a net loss on disposal of approximately $1.7 million, which is reflected in loss from discontinued operations, net, in the accompanying consolidated statement of operations for the year ended December 31, 2004.
Kline, Iron & Steel—In June 2003, the Company committed to a plan to sell its steel fabrication and tall tower construction service subsidiary, Kline (previously included in the Company’s network development services segment).
During 2003, the Company recognized an aggregate non-cash charge of approximately $14.6 million (including $10.3 million of goodwill) related to the impairment of Kline’s net assets to reduce their carrying value to the estimated proceeds expected upon disposal.
This charge is reflected in loss from discontinued operations, net, in the accompanying consolidated statement of operations for the year ended December 31, 2003.
In March 2004, the Company sold substantially all the assets of Kline for approximately $4.0 million.
Verestar—In December 2002, the Company committed to a plan to sell Verestar by December 31, 2003.
In December 2003, Verestar filed for protection under Chapter 11 of the federal bankruptcy laws.
Under generally accepted accounting principles, consolidation is generally required for investments of more than 50% of the outstanding voting stock of an investee, except when control is not held by the majority owner.
Under these rules, legal reorganization or bankruptcy represent conditions which can preclude consolidation in instances where control rests with the bankruptcy court, rather than the majority owner.
Accordingly, due to the bankruptcy filing, the Company ceased to consolidate Verestar’s financial results beginning December 22, 2003.
The operations of Verestar are included in loss from discontinued operations, net, in the accompanying consolidated statements of operations through the date of the bankruptcy filing.
As described in note 9, the Company has incurred costs in connection with its involvement in the bankruptcy proceedings of Verestar, which are reflected within discontinued operations in the accompanying consolidated statements of operations.
The Company recognized aggregate impairment charges related to its investment in Verestar of approximately $26.5 million for the year ended December 31, 2003.
These charges reduced the carrying value of the Company’s investment in Verestar to zero as of December 31, 2003.
These charges are included in loss from discontinued
AMERICAN TOWER CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Brazil Acquisition—On March 1, 2011, the Company acquired 100% of the outstanding shares of a company that owned 627 communications sites in Brazil for $553.2 million, which was subsequently increased to $585.4 million as a result of acquiring 39 additional communications sites during the year ended December 31, 2011.
During the year ended December 31, 2012, the purchase price was reduced to $585.3 million after certain postclosing purchase price adjustments.
The allocation of the purchase price was finalized during the year ended December 31, 2012.
The following table summarizes the allocation of the aggregate purchase consideration paid and the amounts of assets acquired and liabilities assumed based upon their estimated fair value at the date of acquisition (in thousands):
## Table 1 ##
(1) Reflected in the consolidated balance sheets herein.
(2) Reflected in the consolidated balance sheets in the Form 10-K for the year ended December 31, 2011.
(3) Includes approximately $7.7 million of accounts receivable, which approximates the value due to the Company under certain contractual arrangements.
(4) Consists of customer-related intangibles of approximately $250.0 million and network location intangibles of approximately $118.0 million.
The customer-related intangibles and network location intangibles are being amortized on a straight-line basis over periods of up to 20 years.
(5) Other long-term liabilities includes contingent amounts of approximately $30.0 million primarily related to uncertain tax positions related to the acquisition and non-current assets includes $24.0 million of the related indemnification asset.
(6) The Company expects that the goodwill recorded will be deductible for tax purposes.
The goodwill was allocated to the Company’s international rental and management segment.
Brazil—Vivo Acquisition—On March 30, 2012, the Company entered into a definitive agreement to purchase up to 1,500 towers from Vivo S. A.
(“Vivo”).
Pursuant to the agreement, on March 30, 2012, the Company purchased 800 communications sites for an aggregate purchase price of $151.7 million.
On June 30, 2012, the Company purchased the remaining 700 communications sites for an aggregate purchase price of $126.3 million, subject to post-closing adjustments.
In addition, the Company and Vivo amended the asset purchase agreement to allow for the acquisition of up to an additional 300 communications sites by the Company, subject to regulatory approval.
On August 31, 2012, the Company purchased an additional 192 communications sites from Vivo for an aggregate purchase price of $32.7 million, subject to post-closing adjustments.
ITEM 6.
SELECTED FINANCIAL DATA The selected financial data should be read in conjunction with our “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” and our audited consolidated financial statements and the related notes to those consolidated financial statements included in this Annual Report.
In accordance with accounting principles generally accepted in the United States (“GAAP”), the consolidated statements of operations for all periods presented in this “Selected Financial Data” have been adjusted to reflect certain businesses as discontinued operations.
Year-over-year comparisons are significantly affected by our acquisitions, dispositions and, to a lesser extent, construction of towers.
## Table 2 ##

<table><tr><td></td><td>2005</td><td>2004</td><td>2003</td></tr><tr><td>Revenue</td><td></td><td>$71,993</td><td>$283,124</td></tr><tr><td>Loss from discontinued operations</td><td></td><td>-11,821</td><td>-13,604</td></tr><tr><td>Income tax benefit on loss from discontinued operations</td><td></td><td>4,101</td><td>1,587</td></tr><tr><td>Net loss on disposal of discontinued operations, net of tax benefit of $1,042, $337 and $10,160 respectively</td><td>$-1,935</td><td>-625</td><td>-48,458</td></tr><tr><td>Loss from discontinued operations, net</td><td>$-1,935</td><td>$-8,345</td><td>$-60,475</td></tr></table>
<table><tr><td></td><td>Final Purchase Price Allocation -1</td><td>Preliminary Purchase Price Allocation -2</td></tr><tr><td>Current assets -3</td><td>$9,922</td><td>$9,922</td></tr><tr><td>Non-current assets</td><td>71,529</td><td>98,047</td></tr><tr><td>Property and equipment</td><td>83,539</td><td>86,062</td></tr><tr><td>Intangible assets -4</td><td>368,000</td><td>288,000</td></tr><tr><td>Current liabilities</td><td>-5,536</td><td>-5,536</td></tr><tr><td>Other non-current liabilities -5</td><td>-38,519</td><td>-38,519</td></tr><tr><td>Fair value of net assets acquired</td><td>$488,935</td><td>$437,976</td></tr><tr><td>Goodwill -6</td><td>96,395</td><td>147,459</td></tr></table>
<table><tr><td></td><td colspan="5">Year Ended December 31,</td></tr><tr><td></td><td>2012</td><td>2011</td><td>2010</td><td>2009</td><td>2008</td></tr><tr><td></td><td colspan="5">(In thousands, except per share data)</td></tr><tr><td> Statements of Operations Data:</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Revenues:</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Rental and management</td><td>$2,803,490</td><td>$2,386,185</td><td>$1,936,373</td><td>$1,668,420</td><td>$1,547,035</td></tr><tr><td>Network development services</td><td>72,470</td><td>57,347</td><td>48,962</td><td>55,694</td><td>46,469</td></tr><tr><td>Total operating revenues</td><td>2,875,960</td><td>2,443,532</td><td>1,985,335</td><td>1,724,114</td><td>1,593,504</td></tr><tr><td>Operating expenses:</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Cost of operations (exclusive of items shown separately below)</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Rental and management-1</td><td>$686,681</td><td>$590,272</td><td>$447,629</td><td>$383,990</td><td>$363,024</td></tr><tr><td>Network development services-2</td><td>35,798</td><td>30,684</td><td>26,957</td><td>32,385</td><td>26,831</td></tr><tr><td>Depreciation, amortization and accretion-3</td><td>644,276</td><td>555,517</td><td>460,726</td><td>414,619</td><td>405,332</td></tr><tr><td>Selling, general, administrative and development expense-4</td><td>327,301</td><td>288,824</td><td>229,769</td><td>201,694</td><td>180,374</td></tr><tr><td>Other operating expenses</td><td>62,185</td><td>58,103</td><td>35,876</td><td>19,168</td><td>11,189</td></tr><tr><td>Total operating expenses</td><td>1,756,241</td><td>1,523,400</td><td>1,200,957</td><td>1,051,856</td><td>986,750</td></tr><tr><td>Operating income</td><td>1,119,719</td><td>920,132</td><td>784,378</td><td>672,258</td><td>606,754</td></tr><tr><td>Interest income, TV Azteca, net</td><td>14,258</td><td>14,214</td><td>14,212</td><td>14,210</td><td>14,253</td></tr><tr><td>Interest income</td><td>7,680</td><td>7,378</td><td>5,024</td><td>1,722</td><td>3,413</td></tr><tr><td>Interest expense</td><td>-401,665</td><td>-311,854</td><td>-246,018</td><td>-249,803</td><td>-253,584</td></tr><tr><td>Loss on retirement of long-term obligations</td><td>-398</td><td>—</td><td>-1,886</td><td>-18,194</td><td>-4,904</td></tr><tr><td>Other (expense) income</td><td>-38,300</td><td>-122,975</td><td>315</td><td>1,294</td><td>5,988</td></tr><tr><td>Income from continuing operations before income taxes and income on equity method investments</td><td>701,294</td><td>506,895</td><td>556,025</td><td>421,487</td><td>371,920</td></tr><tr><td>Income tax provision</td><td>-107,304</td><td>-125,080</td><td>-182,489</td><td>-182,565</td><td>-135,509</td></tr><tr><td>Income on equity method investments</td><td>35</td><td>25</td><td>40</td><td>26</td><td>22</td></tr><tr><td>Income from continuing operations</td><td>594,025</td><td>381,840</td><td>373,576</td><td>238,948</td><td>236,433</td></tr><tr><td>Income from discontinued operations, net-5</td><td>—</td><td>—</td><td>30</td><td>8,179</td><td>110,982</td></tr><tr><td>Net income</td><td>594,025</td><td>381,840</td><td>373,606</td><td>247,127</td><td>347,415</td></tr><tr><td>Net loss (income) attributable to noncontrolling interest</td><td>43,258</td><td>14,622</td><td>-670</td><td>-532</td><td>-169</td></tr><tr><td>Net income attributable to American Tower Corporation</td><td>$637,283</td><td>$396,462</td><td>$372,936</td><td>$246,595</td><td>$347,246</td></tr><tr><td>Basic income per common share from continuing operations attributable to American Tower Corporation-6</td><td>$1.61</td><td>$1.00</td><td>$0.93</td><td>$0.60</td><td>$0.60</td></tr><tr><td>Diluted income per common share from continuing operations attributable to American Tower Corporation-6</td><td>$1.60</td><td>$0.99</td><td>$0.92</td><td>$0.59</td><td>$0.58</td></tr><tr><td>Weight average common shares outstanding-6</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Basic</td><td>394,772</td><td>395,711</td><td>401,152</td><td>398,375</td><td>395,947</td></tr><tr><td>Diluted</td><td>399,287</td><td>400,195</td><td>404,072</td><td>406,948</td><td>418,357</td></tr><tr><td>Distribution declared per share</td><td>$0.90</td><td>$0.35</td><td>—</td><td>—</td><td>—</td></tr><tr><td> Other Operating Data:</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Ratio of earnings to fixed charges-7</td><td>2.32x</td><td>2.19x</td><td>2.65x</td><td>2.27x</td><td>2.12x</td></tr></table>

Question: What is the growing rate of Basic in the year with the most operating revenues?