Company: SBAC
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001034054-25-000002
Chunk: 30

Company: SBA COMMUNICATIONS CORP
Filing Date: 2025-02-26
Form: 10-K
Item: Item 9B
Chunk 30
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-owner sources, and is comprised of net income, foreign currency translation adjustments, and adjustments related to interest rate swaps designated as cash flow hedges.Foreign Currency TranslationAll assets and liabilities of foreign subsidiaries that do not utilize the U.S. dollar as its functional currency are translated at period-end exchange rates, while revenues and expenses are translated at monthly average exchange rates during the year. Unrealized translation gains and losses are reported as foreign currency translation adjustments through Accumulated other comprehensive loss, net in the Consolidated Statement of Shareholders’ Deficit.For foreign subsidiaries where the U.S. dollar is the functional currency, monetary assets and liabilities of such subsidiaries, which are not denominated in U.S. dollars, are remeasured at exchange rates in effect at the balance sheet date, and revenues and expenses are remeasured at monthly average rates prevailing during the year. Remeasurement gains and losses are reported as Other (expense) income, net in the Consolidated Statements of Operations.Intercompany Loans Subject to RemeasurementIn accordance with ASC 830, the Company remeasures foreign denominated intercompany loans with the corresponding change in the balance being recorded in Other (expense) income, net in the Consolidated Statements of Operations as settlement is anticipated or planned in the foreseeable future. The Company recorded a $156.8 million loss, a $52.4 million gain, and a $12.9 million gain, net of taxes, on the remeasurement of intercompany loans for the years ended December 31, 2024, 2023, and 2022, respectively. During the year ended December 31, 2024, the Company funded $9.3 million and repaid $177.1 million under its intercompany loan agreements. As of December 31, 2024 and 2023, the aggregate amount outstanding under the intercompany loan agreements subject to remeasurement with the Company’s foreign subsidiaries was $1.1 billion and $1.3 billion, respectively. Subsequent to December 31, 2024, the Company made no repayments under its intercompany loan agreements.AcquisitionsThe Company’s acquisitions generally qualify for asset acquisition treatment under ASC 360, Property, Plant, and Equipment, rather than business combination treatment under ASC 805, Business Combinations. For acquisitions, the aggregate 

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purchase price is allocated on a relative fair value basis to towers and related intangible assets. The fair values of these net assets acquired are based on management’s estimates and