Company: SBAC
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001034054-25-000002
Chunk: 40

Company: SBA COMMUNICATIONS CORP
Filing Date: 2025-02-26
Form: 10-K
Item: Item 9B
Chunk 40
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102Prepaid insurance   1,704   1,522Prepaid taxes   11,496   9,064Prepaid ground rent   3,638   3,712Other current assets   22,757   16,599Total prepaid expenses and other current assets $ 417,333 $ 38,593 The Company’s other assets are comprised of the following:                 As of As of  December 31, 2024 December 31, 2023          (in thousands)Straight-line rent receivable $ 417,572 $ 415,100Interest rate swap asset (2)   50,589   104,674Loans receivable (1)   59,326   148,104Deferred lease costs, net   8,836   8,713Deferred tax asset - long term   53,974   67,473Long-term investments   20,779   24,540Other   46,021   43,872Total other assets $ 657,097 $ 812,476 (1)On March 17, 2023 (as amended through February 18, 2025), the Company entered into a loan agreement with one of its unconsolidated joint ventures (“the Investee”). As part of the loan agreement, as amended, the Investee may borrow up to $115.0 million in aggregate principal amount, consisting of a $73.0 million initial term loan and $42.0 million of delayed draw term loans. The final maturity date of the loans is March 7, 2025. The loans accrue interest at a variable rate, adjusting monthly, plus the applicable margin. The loans are collateralized by equity securities in the Investee. The funding of the loans is recorded in Other investing activities on the Consolidated Statements of Cash Flows. The outstanding principal balance of the loan was $115.0 million and $100.5 million as of December 31, 2024 and 2023, respectively. The loan was included within Short-term loans receivable and Loans receivable as of December 31, 2024 and 2023, respectively. As of December 31, 2024, the loan was accruing interest at a blended rate of 9.303%.(2)Refer to Note 21 for more information on the Company’s interest rate swaps.  

F-20Table of Contents

7.ACQUISITIONS The