Company: SBAC
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001034054-25-000002
Chunk: 33

Company: SBA COMMUNICATIONS CORP
Filing Date: 2025-02-26
Form: 10-K
Item: Item 9B
Chunk 33
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 lease commencement or upon a modification. The Company uses publicly available data for instruments with similar characteristics when calculating its incremental borrowing rates.Lease Cost Variable lease payments include escalations based on an inflationary index and are initially recognized using the prevailing index at the date of initial measurement or upon reassessment of the lease term. Subsequent changes in standard cost of living increases are recognized as variable lease costs. Variable lease payments also include contingent rent provisions.The components of lease cost, lease term, and discount rate as of December 31, 2024 and 2023 are as follows:                          For the year ended December 31,     2024 2023               (in thousands)Amortization of acquired and other right-of-use assets $ 38,771 $ 42,312Interest on finance lease liabilities   177   211Total finance lease cost   38,948   42,523Operating lease cost   278,443   290,169Variable lease cost   60,732   63,625Total lease cost $ 378,123 $ 396,317          Weighted-Average Remaining Lease Term as of 2024 and 2023:Operating leases     15.8 years  12.9 yearsFinance leases     50.9 years  49.3 years          Weighted-Average Discount Rate as of 2024 and 2023:      Operating leases     6.6%  6.4%Finance leases     4.9%  4.4%               For the year endedOther information:    December 31, 2024 December 31, 2023Cash paid for amounts included in measurement of lease liabilities:Cash flows from operating leases $ 277,560 $ 279,194Cash flows from finance leases $ 2,046 $ 2,522Tenant LeasesThe Company enters into long-term lease contracts with wireless service providers to lease antenna space on towers that it owns or operates. Each tenant lease relates to the lease or use of space at an individual site. Tenant leases are generally for an initial term of five years to fifteen years with multiple renewal periods, which are at the option of the tenant. Tenant leases typically (1) 

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contain specific annual rent escalators, (2) escalate annually in accordance with an inflationary index, or (3) escalate using a combination of fixed and inflation adjusted escalators, including the renewal option periods.Tenant lease agreements generally include renewal options which