Company: SBAC
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001034054-25-000002
Chunk: 75

Company: SBA COMMUNICATIONS CORP
Filing Date: 2025-02-26
Form: 10-K
Item: Item 9B
Chunk 75
---
retion. Cost of revenues is primarily comprised of rent expense related to the Company’s leases.(3)Includes cash paid for capital expenditures, acquisitions, and right-of-use assets.(4)Assets in Other consist primarily of general corporate assets, short-term investments. Assets in Other for the period ended December 31, 2024 also includes $1.165 billion of cash held in escrow which was used to repay the 2019-1C Tower Securities. Total domestic long-lived assets were $5.7 billion and $5.4 billion as of December 31, 2024 and 2023, respectively. Total international long-lived assets were $3.0 billion and $3.4 billion as of December 31, 2024 and 2023, respectively. Total long-lived assets in Brazil were $1.7 billion and $2.1 billion as of December 31, 2024 and 2023, respectively. Long-lived assets include property and equipment, net, intangible assets, net, operating lease right-of-use assets, net, and acquired and other right-of-use assets, net. Other than Brazil, no foreign country represented more than 5% of the Company’s total long-lived assets in any of the periods presented. 16.EARNINGS PER SHAREBasic earnings per share was computed by dividing net income attributable to SBA Communications Corporation by the weighted-average number of shares of Class A common stock outstanding for each respective period. Diluted earnings per share was calculated by dividing net income attributable to SBA Communications Corporation by the weighted-average number of shares of Class A common stock outstanding adjusted for any dilutive Class A common stock equivalents, including unvested RSUs, PSUs, and shares issuable upon exercise of stock options as determined under the “Treasury Stock” method.The following table sets forth basic and diluted net income per common share attributable to common shareholders for the years ended December 31, 2024, 2023, and 2022 (in thousands, except per share data):                      For the year ended December 31,  2024 2023 2022Numerator:         Net income attributable to SBA         Communications Corporation $ 749,536 $ 501,812 $ 461,429Denominator:         Basic weighted-average shares outstanding   107,644   108,204   107,957Dilutive impact of stock options, RSUs, and PSUs   436   703   1,429D