Company: SBAC
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001034054-25-000002
Chunk: 43

Company: SBA COMMUNICATIONS CORP
Filing Date: 2025-02-26
Form: 10-K
Item: Item 9B
Chunk 43
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F-21Table of Contents

 The maximum potential obligation related to contingent consideration for acquisitions were $12.1 million and $17.9 million as of December 31, 2024 and 2023, respectively. No such amounts have been recorded on the Company’s Consolidated Balance Sheets.8.PROPERTY AND EQUIPMENT, NETProperty and equipment, net consists of the following:                As of As of  December 31, 2024 December 31, 2023         (in thousands)Towers and related assets $ 5,902,092 $ 5,836,485Construction-in-process (1)   72,202   105,627Furniture, equipment, and vehicles   84,629   76,031Land, buildings, and improvements (2)   1,013,253   941,358Total property and equipment   7,072,176   6,959,501Less: accumulated depreciation   (4,280,092)   (4,247,782)Property and equipment, net $ 2,792,084 $ 2,711,719 (1)Construction-in-process represents costs incurred related to towers and other assets that are under development and will be used in the Company’s site leasing operations.(2)Includes amounts related to the Company’s data centers.Depreciation expense was $116.3 million, $272.3 million, and $274.0 million for the years ended December 31, 2024, 2023, and 2022, respectively. As a result of the Company’s revision of the estimated useful lives of its towers, the Company experienced decreased depreciation expense for the year ended December 31, 2024 when compared to the prior year. At December 31, 2024 and 2023, unpaid capital expenditures that are included in accounts payable and accrued expenses were $14.6 million and $6.5 million, respectively.9.INTANGIBLE ASSETS, NETThe following table provides the gross and net carrying amounts for each major class of intangible assets:                                         As of December 31, 2024 As of December 31, 2023  Gross carrying Accumulated  Net book Gross carrying Accumulated  Net book  amount amortization value amount amortization value                     (in thousands)Current contract intangibles $ 5,164,263 $ (3,338,705) $ 1,825,558 $ 5,253,563 $