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BUSINESS SEGMENTS
 3 Months Ended
Mar. 31, 2024
Segment Reporting [Abstract]  
BUSINESS SEGMENTS BUSINESS SEGMENTS
Property
Communications Sites and Related Communications Infrastructure—The Company’s primary business is leasing space on multitenant communications sites to wireless service providers, radio and television broadcast companies, wireless data providers, government agencies and municipalities and tenants in a number of other industries. The Company has historically reported these operations on a geographic basis.
Data Centers—The Company’s Data Centers segment relates to data center facilities and related assets that the Company owns and operates in the United States. The Data Centers segment offers different types of leased land and related services from, and requires different resources, skill sets and marketing strategies than the existing property operating segment in the U.S. & Canada.
As of March 31, 2024, the Company’s property operations consisted of the following:
•U.S. & Canada: property operations in Canada and the United States;
•Asia-Pacific: property operations in Australia, Bangladesh, India, New Zealand and the Philippines;
•Africa: property operations in Burkina Faso, Ghana, Kenya, Niger, Nigeria, South Africa and Uganda;
•Europe: property operations in France, Germany and Spain;
•Latin America: property operations in Argentina, Brazil, Chile, Colombia, Costa Rica, Mexico, Paraguay and Peru; and
•Data Centers: data center property operations in the United States.
Services
The Company’s Services segment offers tower-related services in the United States, including AZP, structural and mount analyses, and construction management, which primarily support its site leasing business, including the addition of new tenants and equipment on its communications sites. The Services segment is a strategic business unit that offers different services from, and requires different resources, skill sets and marketing strategies than, the property operating segments.
The accounting policies applied in compiling segment information below are similar to those described in note 1 to the Company’s consolidated financial statements included in the 2023 Form 10-K and as updated in note 1 above. Among other factors, in evaluating financial performance in each business segment, management uses segment gross margin and segment operating profit. The Company defines segment gross margin as segment revenue less segment operating expenses excluding Depreciation, amortization and accretion; Selling, general, administrative and development expense; and Other operating expenses. The Company defines segment operating profit as segment gross margin less Selling, general, administrative and development expense attributable to the segment, excluding stock-based compensation expense and corporate expenses. These measures of segment gross margin and segment operating profit are also before Interest income, Interest expense, Gain (loss) on retirement of long-term obligations, Other income (expense), Net income (loss) attributable to noncontrolling interests and Income tax benefit (provision). The categories of expenses indicated above, such as depreciation, have been excluded from segment operating performance as they are not considered in the review of information or the evaluation of results by management. There are no significant revenues resulting from transactions between the Company’s operating segments. All intercompany transactions are eliminated to reconcile segment results and assets to the consolidated statements of operations and consolidated balance sheets.
Summarized financial information concerning the Company’s reportable segments for the three months ended March 31, 2024 and 2023 is shown in the following tables. The “Other” column (i) represents amounts excluded from specific segments, such as business development operations, stock-based compensation expense and corporate expenses included in Selling, general, administrative and development expense; Other operating expenses; Interest income; Interest expense; Gain (loss) on retirement of long-term obligations; and Other income (expense), and (ii) reconciles segment operating profit to Income from continuing operations before income taxes.
PropertyTotal 
Property
Services		OtherTotal
Three Months Ended March 31, 2024U.S. & CanadaAsia-PacificAfricaEuropeLatin AmericaData Centers
Segment revenues$1,310.7 $326.6 $292.0 $204.5 $445.5 $224.6 $2,803.9 $30.2 $2,834.1 
Segment operating expenses204.3 170.7 92.7 73.5 140.3 92.9 774.4 13.9 788.3 
Segment gross margin1,106.4 155.9 199.3 131.0 305.2 131.7 2,029.5 16.3 2,045.8 
Segment selling, general, administrative and development expense (1)36.6 12.8 14.9 15.8 27.8 17.2 125.1 4.9 130.0 
Segment operating profit$1,069.8 $143.1 $184.4 $115.2 $277.4 $114.5 $1,904.4 $11.4 $1,915.8 
Stock-based compensation expense$64.9 64.9 
Other selling, general, administrative and development expense62.1 62.1 
Depreciation, amortization and accretion549.4 549.4 
Other expense (2)208.5 208.5 
Income from continuing operations before income taxes $1,030.9 
Total assets$26,879.0 $3,821.9 $3,972.3 $11,676.0 $9,097.7 $10,455.1 $65,902.0 $67.4 $709.6 $66,679.0 
_______________
(1)Segment selling, general, administrative and development expenses exclude stock-based compensation expense of $64.9 million.
(2)Primarily includes interest expense, partially offset by gains from foreign currency exchange rate fluctuations.
PropertyTotal 
Property
Services		OtherTotal
Three Months Ended March 31, 2023U.S. & CanadaAsia-PacificAfricaEuropeLatin AmericaData Centers
Segment revenues$1,287.6 $251.1 $317.0 $191.7 $464.1 $203.0 $2,714.5 $52.7 $2,767.2 
Segment operating expenses205.3 168.4 118.5 73.1 137.9 83.8 787.0 19.1 806.1 
Segment gross margin1,082.3 82.7 198.5 118.6 326.2 119.2 1,927.5 33.6 1,961.1 
Segment selling, general, administrative and development expense (1)40.8 8.8 21.4 14.6 29.7 17.5 132.8 5.7 138.5 
Segment operating profit$1,041.5 $73.9 $177.1 $104.0 $296.5 $101.7 $1,794.7 $27.9 $1,822.6 
Stock-based compensation expense$65.5 65.5 
Other selling, general, administrative and development expense59.9 59.9 
Depreciation, amortization and accretion794.1 794.1 
Other expense (2)534.7 534.7 
Income from continuing operations before income taxes $368.4 
Total assets$26,657.4 $3,879.7 $4,632.4 $11,609.5 $8,741.0 $10,632.5 $66,152.5 $125.2 $540.0 $66,817.7 
_______________
(1)Segment selling, general, administrative and development expenses exclude stock-based compensation expense of $65.5 million.
(2)Primarily includes interest expense and losses from foreign currency exchange rate fluctuations. Three months ended March 31, 2023 also includes a loss on the sale of one of the Company’s subsidiaries in Mexico that held fiber assets of $80.0 million and $29.8 million in impairment charges.