Company: SBAC
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001034054-25-000002
Chunk: 39

Company: SBA COMMUNICATIONS CORP
Filing Date: 2025-02-26
Form: 10-K
Item: Item 9B
Chunk 39
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, 2024 and 2023, the Company had $42.5 million and $42.0 million in surety and payment and performance bonds, respectively, for which no collateral was required to be posted. The Company periodically evaluates the collateral posted for its bonds to ensure that it meets the minimum requirements. As of December 31, 2024 and 2023, the Company had pledged $2.5 million and $2.4 million, respectively, as collateral related to its workers’ compensation policy.5.COSTS AND ESTIMATED EARNINGS ON UNCOMPLETED CONTRACTSThe Company’s costs and estimated earnings on uncompleted contracts are comprised of the following:                As of As of  December 31, 2024 December 31, 2023         (in thousands)Costs incurred on uncompleted contracts $ 74,474 $ 98,674Estimated earnings   31,514   64,589Billings to date   (92,082)   (152,608)  $ 13,906 $ 10,655 ‎ 

F-19Table of Contents

 These amounts are included in the Consolidated Balance Sheets under the following captions:                As of As of  December 31, 2024 December 31, 2023         (in thousands)Costs and estimated earnings in excess of billings on uncompleted contracts $ 19,198 $ 16,252Billings in excess of costs and estimated earnings on      uncompleted contracts (included in Other current liabilities)   (5,292)   (5,597)  $ 13,906 $ 10,655At December 31, 2024 and 2023, the two largest customers comprised 89.0% and 84.6%, respectively, of the costs and estimated earnings in excess of billings on uncompleted contracts, net of billings in excess of costs and estimated earnings.6.PREPAID EXPENSES AND OTHER CURRENT ASSETS AND OTHER ASSETSThe Company’s prepaid expenses and other current assets are comprised of the following:                  As of As of  December 31, 2024 December 31, 2023          (in thousands)Short-term investments $ 254,534 $ 1,046Short-term loans receivable (1)   115,281   1,026Prepaid real estate taxes   3,564   3,522Interest receivable   4,359   2,