Company: SBAC
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001034054-25-000002
Chunk: 77

Company: SBA COMMUNICATIONS CORP
Filing Date: 2025-02-26
Form: 10-K
Item: Item 9B
Chunk 77
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 it is impossible to presently determine the ultimate costs that may be incurred, management believes the resolution of such uncertainties and the incurrence of such costs will not have a material adverse effect on the Company’s consolidated financial position, results of operations or liquidity.Contingent Purchase ObligationsFrom time to time, the Company agrees to pay additional consideration (or earnouts) for acquisitions if the towers or businesses that are acquired meet or exceed certain performance targets in the one year to three years after they have been acquired. Please refer to Note 2 and Note 7.18.CONCENTRATION OF CREDIT RISK The Company’s credit risks consist primarily of accounts receivable with national, regional, and local wireless service providers and federal and state government agencies. The Company performs periodic credit evaluations of its customers’ financial condition and provides allowances for doubtful accounts, as required, based upon factors surrounding the credit risk of specific customers, historical trends, and other information. The Company generally does not require collateral.‎ 

F-39Table of Contents

 The following is a list of significant customers (representing at least 10% of revenue for any period reported) and the percentage of total revenue for the specified time periods derived from such customers:                       For the year ended December 31, Percentage of Total Revenues   2024 2023 2022         T-Mobile   30.5% 32.5% 36.4%AT&T Wireless   20.6% 19.5% 19.6%Verizon Wireless   15.1% 14.6% 14.5% The Company’s site leasing and site development segments derive revenue from these customers. Client percentages of total revenue in each of the segments are as follows:                      For the year ended December 31, Percentage of Domestic Site Leasing Revenue   2024 2023 2022         T-Mobile   38.1% 40.2% 40.6%AT&T Wireless   29.6% 28.6% 29.0%Verizon Wireless   20.1% 19.7% 20.1%             For the year ended December 31, Percentage of International Site Leasing Revenue   2024 2023 2022         Telefonica   21.3% 22.5% 20.7%Claro   19.2% 20.2% 19.0%TIM   15.9% 15.7