0001051470-20-000157 | 10-Q | XBRL Viewer | Crown Castle International Corp

$ 1,339

$ 1,287

$ 3,968

$ 3,793

147

195

379

544

1,486

1,482

4,347

4,337

Operating expenses:

Site rental

^[1]

370

369

1,123

1,095

Selling, general and administrative

^[1]

117

146

^[2]

324

407

^[2]

154

150

493

457

Asset write-down charges

Acquisition and integration costs

Nonoperating Income (Expense) [Abstract]

406

388

1,207

1,175

Total operating expenses

1,052

1,059

3,166

3,157

Operating income (loss)

434

423

1,181

1,180

Interest expense and amortization of deferred financing costs

(168)

(173)

(521)

(510)

Gains (losses) on retirement of long-term obligations

(95)

^[3]

(2)

Interest income

Other income (expense)

(3)

(5)

(3)

(6)

Income (loss) before income taxes

168

247

564

667

Benefit (provision) for income taxes

(5)

(16)

(15)

Net income (loss) attributable to CCIC stockholders

163

242

^[4]

548

652

^[4]

Net income (loss) attributable to CCIC common stockholders

^[4],[5]

^[5]

^[4],[5]

163

214

491

567

Other Comprehensive Income (Loss), Net of Tax [Abstract]

Total other comprehensive income (loss)

^[6]

Comprehensive income (loss) attributable to CCIC stockholders

$ 165

$ 242

$ 549

$ 652

Net income (loss) attributable to CCIC common stockholders, per common share:

$ 0.38

$ 0.51

$ 1.17

$ 1.36

Weighted-average common shares outstanding (in millions):

$ 0.38

$ 0.51

$ 1.17

$ 1.36

427

416

420

416

Cash flows from operating activities:

429

418

422

418

[1]	Exclusive of depreciation, amortization and accretion shown separately.
[2]	Exclusive of depreciation, amortization and accretion shown separately.
[3]	Inclusive of the write off of respective deferred financing costs.
[4]	The individual components of this column do not sum to the total due to rounding.
[5]	See note 8 for information regarding common and preferred stock dividends declared per share.
[6]	See the condensed consolidated statement of operations and other comprehensive income (loss) for the components of other comprehensive income (loss).

Condensed Consolidated Statement of Cash Flows - USD ($)
$ in Millions

9 Months Ended

Sep. 30, 2020

Sep. 30, 2019

Adjustments to reconcile net income (loss) to net cash provided by (used for) operating activities:

$ 548

$ 652

Gains (losses) on retirement of long-term obligations

1,207

1,175

^[1]

Amortization of deferred financing costs and other non-cash interest, net

Deferred income tax (benefit) provision

108

Asset write-down charges

Other non-cash adjustments

Changes in assets and liabilities, excluding the effects of acquisitions:

Increase (decrease) in accrued interest

(46)

(38)

Increase (decrease) in accounts payable

(41)

Increase (decrease) in other liabilities

179

Decrease (increase) in receivables

141

(166)

Decrease (increase) in other assets

(20)

(62)

Net cash provided by (used for) operating activities

2,070

1,890

Cash flows from investing activities:

Payments for acquisitions, net of cash acquired

(1,238)

(1,537)

(86)

(15)

Other investing activities, net

(12)

Net cash provided by (used for) investing activities

(1,336)

(1,549)

Cash flows from financing activities:

Proceeds from issuance of long-term debt

3,733

1,895

Principal payments on debt and other long-term obligations

(80)

(59)

Purchases and redemptions of long-term debt

(2,490)

(12)

Borrowings under revolving credit facility

2,140

1,585

Payments under revolving credit facility

(2,145)

(2,270)

Net issuances (repayments) under commercial paper program

(80)

Payments for financing costs

(38)

(24)

Purchases of Common Stock

(75)

(44)

Dividends/distributions paid on common stock

(1,531)

(1,415)

Dividends/distributions paid on preferred stock

(85)

Net cash provided by (used for) financing activities

(651)

(429)

Net increase (decrease) in cash, cash equivalents, and restricted cash

(88)

Cash, cash equivalents and restricted cash at beginning of period

338

413

Cash, cash equivalents and restricted cash at end of period

421

325

Effect of Exchange Rate on Cash and Cash Equivalents [Abstract]

Effect of exchange rate changes

$ 0

[1]	Inclusive of the write off of respective deferred financing costs.

Condensed Consolidated Statement of Equity - USD ($)
shares in Millions, $ in Millions

Total

Common Stock [Member]

6.875% Mandatory Convertible Preferred Stock [Member]

Additional Paid-in Capital [Member]

Accumulated Foreign Currency Adjustment Attributable to Parent [Member]

Dividends/Distributions in Excess of Earnings [Member]

Balance, shares Period Start at Dec. 31, 2018

415

Balance, value Period Start at Dec. 31, 2018

$ 11,571

^[1]

$ 4

$ 0

$ 17,767

$ (5)

$ (6,195)

^[1]

Preferred Stock, Shares Outstanding Period Start at Dec. 31, 2018

Stock-based compensation related activity, net of forfeitures, value

106

^[1]

106

Stock-based compensation related activity, net of forfeitures, shares

^[1]

^[1],[2]

(1,415)

1,415

^[1],[2]

(85)

Balance, shares Period End at Sep. 30, 2019

^[1]

652

416

Balance, value Period End at Sep. 30, 2019

10,786

^[1]

$ 4

$ 0

17,829

(5)

(7,042)

^[1]

Preferred Stock, Shares Outstanding Period End at Sep. 30, 2019

Balance, shares Period Start at Jun. 30, 2019

416

Balance, value Period Start at Jun. 30, 2019

11,013

^[1]

$ 4

$ 0

17,801

(5)

(6,787)

^[1]

Preferred Stock, Shares Outstanding Period Start at Jun. 30, 2019

Stock-based compensation related activity, net of forfeitures, value

^[1]

(1)

^[1]

^[1],[2]

(470)

470

^[1],[2]

(28)

Balance, shares Period End at Sep. 30, 2019

^[1]

242

416

Balance, value Period End at Sep. 30, 2019

$ 10,786

^[1]

$ 4

$ 0

17,829

(5)

(7,042)

^[1]

Preferred Stock, Shares Outstanding Period End at Sep. 30, 2019

Balance, shares Period Start at Dec. 31, 2019

416

Balance, value Period Start at Dec. 31, 2019

$ 10,489

$ 4

$ 0

17,855

(5)

(7,365)

Preferred Stock, Shares Outstanding Period Start at Dec. 31, 2019

Stock-based compensation related activity, net of forfeitures, value

$ 124

124

Stock-based compensation related activity, net of forfeitures, shares

(75)

^[3]

^[2]

(1,528)

1,528

Conversion of preferred stock to common stock

^[2]

(57)

(2)

Balance, shares Period End at Sep. 30, 2020

$ 548

548

431

Balance, value Period End at Sep. 30, 2020

$ 9,502

$ 4

$ 0

17,904

(4)

(8,402)

Preferred Stock, Shares Outstanding Period End at Sep. 30, 2020

Balance, shares Period Start at Jun. 30, 2020

417

Balance, value Period Start at Jun. 30, 2020

$ 9,826

$ 4

$ 0

17,872

(6)

(8,044)

Preferred Stock, Shares Outstanding Period Start at Jun. 30, 2020

Stock-based compensation related activity, net of forfeitures, value

(1)

^[3]

^[2]

(521)

521

Conversion of preferred stock to common stock

(2)

Balance, shares Period End at Sep. 30, 2020

$ 163

163

431

Balance, value Period End at Sep. 30, 2020

$ 9,502

$ 4

$ 0

$ 17,904

$ (4)

$ (8,402)

Preferred Stock, Shares Outstanding Period End at Sep. 30, 2020

[1]	The individual components of this column do not sum to the total due to rounding.
[2]	See note 8 for information regarding common and preferred stock dividends declared per share.
[3]	See the condensed consolidated statement of operations and other comprehensive income (loss) for the components of other comprehensive income (loss).

General	3 Months Ended
General	Sep. 30, 2020
General
General	General The information contained in the following notes to the condensed consolidated financial statements is condensed from that which would appear in the annual consolidated financial statements; accordingly, the condensed consolidated financial statements included herein should be reviewed in conjunction with the consolidated financial statements for the fiscal year ended December 31, 2019, and related notes thereto, included in the 2019 Form 10-K filed by Crown Castle International Corp. ("CCIC") with the SEC. Capitalized terms used but not defined in these notes to the condensed consolidated financial statements have the same meaning given to them in the 2019 Form 10-K. References to the "Company" refer to CCIC and its predecessor, as applicable, and their subsidiaries, unless otherwise indicated or the context indicates otherwise. As used herein, the term "including," and any variation thereof means "including without limitation." The use of the word "or" herein is not exclusive. Unless the context suggests otherwise, references to "U.S." are to the United States of America and Puerto Rico, collectively. The Company owns, operates and leases shared communications infrastructure that is geographically dispersed throughout the U.S., including (1) towers and other structures, such as rooftops (collectively, "towers"), and (2) fiber primarily supporting small cell networks ("small cells") and fiber solutions. The Company's towers, fiber and small cells assets are collectively referred to herein as "communications infrastructure," and the Company's customers on its communications infrastructure are referred to herein as "tenants." The Company's core business is providing access, including space or capacity, to its shared communications infrastructure via long-term contracts in various forms, including lease, license, sublease and service agreements (collectively, "tenant contracts"). The Company's operating segments consist of (1) Towers and (2) Fiber. See note 11. As part of the Company's effort to provide comprehensive communications infrastructure solutions, as an ancillary business, the Company also offers certain services primarily relating to its Towers segment, predominately consisting of (1) site development services primarily relating to existing or new tenant equipment installations, including: site acquisition, architectural and engineering, or zoning and permitting (collectively, "site development services") and (2) tenant equipment installation or subsequent augmentations (collectively, "installation services"). The Company operates as a REIT for U.S. federal income tax purposes. In addition, the Company has certain taxable REIT subsidiaries ("TRSs"). See note 7. Approximately 53% of the Company's towers are leased or subleased or operated and managed under master leases, subleases, and other agreements with AT&T and T-Mobile, including agreements assumed by T-Mobile following its merger with Sprint, completed on April 1, 2020. The Company has the option to purchase these towers at the end of their respective lease terms. The Company has no obligation to exercise such purchase options. Basis of Presentation The condensed consolidated financial statements included herein are unaudited; however, they include all adjustments (consisting only of normal recurring adjustments) which, in the opinion of management, are necessary to state fairly the consolidated financial position of the Company at September 30, 2020, the condensed consolidated results of operations for the three and nine months ended September 30, 2020 and 2019, and the condensed consolidated cash flows for the nine months ended September 30, 2020 and 2019. The year-end condensed consolidated balance sheet data was derived from audited financial statements, but does not include all disclosures required by GAAP. The results of operations for the interim periods presented are not necessarily indicative of the results to be expected for the full year. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities as of the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Restatement of Previously Issued Condensed Consolidated Financial Statements (Notes)

9 Months Ended

Sep. 30, 2019

Accounting Changes and Error Corrections [Abstract]

Restatement of Financials [Text Block]

Restatement of Previously Issued Condensed Consolidated Financial Statements

The following tables summarize the impact of the restatement adjustments that were related to the timing of revenue recognition on the Company's tower installation services. Specifically, the Company determined that its historical practice of recognizing the full transaction price as service revenues upon completion of an installation was not acceptable under GAAP. Instead, a portion of the transaction price for the Company's tower installation services, specifically the amounts associated with permanent improvements recorded as fixed assets, represent a lease component and should be recognized as site rental revenues on a ratable basis over the associated estimated lease term. In addition, the Company has also made other adjustments to the financial statements referenced above to correct errors that were not material to its condensed consolidated financial statements. Such immaterial adjustments are related to a revision in the presentation of certain tower installation activities from a gross basis to a net basis, including the associated removal of certain amounts historically categorized as capital expenditures. These immaterial adjustments relate exclusively to the Company's Towers segment. Collectively, the restatement adjustments and other immaterial adjustments are referred to herein as "Historical Adjustments."

In addition to the restatement of the condensed consolidated financial statements, certain historical information in the notes to the condensed consolidated financial statements have been restated to reflect the impact of the Historical Adjustments.

Condensed Consolidated Balance Sheet



	September 30, 2019
	As Reported			Restatement Adjustments			Other Adjustments			As Restated
ASSETS
Property and equipment, net	$	14,416		$	—		$	(23	)	$	14,393
Total assets	38,344			—			(23		)	38,321
LIABILITIES AND EQUITY
Current liabilities:
Deferred revenues	525			113			—			638
Total current liabilities	1,734			113			—			1,847
Other long-term liabilities	2,055			403			—			2,458
Total liabilities	27,019			516			—			27,535
CCIC stockholders' equity:
Dividends/distributions in excess of earnings	(6,503		)	(516		)	(23		)	(7,042		)
Total equity	11,325			(516		)	(23		)	10,786
Total liabilities and equity	$	38,344		$	—		$	(23	)	$	38,321

Condensed Consolidated Statement of Operations and Comprehensive Income (Loss)



	Three Months Ended September 30, 2019
	As Reported		Restatement Adjustments			Other Adjustments			As Restated
Net revenues:
Site rental	$	1,260	$	27		$	—		$	1,287
Services and other	254		(57		)	(2		)	195
Net revenues	1,514		(30		)	(2		)	1,482
Operating expenses:
Costs of operations^(a):
Services and other	147		—			(1		)	146
Depreciation, amortization and accretion	389		—			(1		)	388
Total operating expenses	1,061		—			(2		)	1,059
Operating income (loss)	453		(30		)	—			423
Income (loss) before income taxes	277		(30		)	—			247
Net income (loss) attributable to CCIC stockholders	272		(30		)	—			242
Net income (loss) attributable to CCIC common stockholders	$	244	$	(30	)	$	—		$	214
Net income (loss)	$	272	$	(30	)	$	—		$	242
Comprehensive income (loss) attributable to CCIC stockholders	$	272	$	(30	)	$	—		$	242
Net income (loss) attributable to CCIC common stockholders, per common share:
Net income (loss) attributable to CCIC common stockholders - basic	$	0.59	$	(0.08	)	$	—		$	0.51
Net income (loss) attributable to CCIC common stockholders - diluted	$	0.58	$	(0.07	)	$	—		$	0.51



	Nine Months Ended September 30, 2019
	As Reported		Restatement Adjustments			Other Adjustments			As Restated
Net revenues:
Site rental	$	3,718	$	75		$	—		$	3,793
Services and other	700		(152		)	(4		)	544
Net revenues	4,418		(77		)	(4		)	4,337
Operating expenses:
Costs of operations^(a):
Services and other	410		—			(3		)	407
Depreciation, amortization and accretion	1,176		—			(1		)	1,175
Total operating expenses	3,161		—			(4		)	3,157
Operating income (loss)	1,257		(77		)	—			1,180
Income (loss) before income taxes	744		(77		)	—			667
Net income (loss) attributable to CCIC stockholders	729		(77		)	—			652
Net income (loss) attributable to CCIC common stockholders	$	644	$	(77	)	$	—		$	567
Net income (loss)	$	729	$	(77	)	$	—		$	652
Comprehensive income (loss) attributable to CCIC stockholders	$	729	$	(77	)	$	—		$	652
Net income (loss) attributable to CCIC common stockholders, per common share:
Net income (loss) attributable to CCIC common stockholders - basic	$	1.55	$	(0.19	)	$	—		$	1.36
Net income (loss) attributable to CCIC common stockholders - diluted	$	1.54	$	(0.18	)	$	—		$	1.36


(a)	Exclusive of depreciation, amortization and accretion shown separately.

Condensed Consolidated Statement of Cash Flows



	Nine Months Ended September 30, 2019
	As Reported			Restatement Adjustments			Other Adjustments			As Restated
Cash flows from operating activities:
Net income (loss)	$	729		$	(77	)	$	—		$	652
Adjustments to reconcile net income (loss) to net cash provided by (used for) operating activities:
Depreciation, amortization and accretion	1,176			—			(1		)	1,175
Increase (decrease) in other liabilities	102			77			—			179
Net cash provided by (used for) operating activities	1,891			—			(1		)	1,890
Cash flows from investing activities:
Capital expenditures	(1,538		)	—			1			(1,537		)
Net cash provided by (used for) investing activities	(1,550		)	—			1			(1,549		)
Net increase (decrease) in cash, cash equivalents, and restricted cash	(88		)	—			—			(88		)
Cash, cash equivalents, and restricted cash at beginning of period	413			—			—			413
Cash, cash equivalents, and restricted cash at end of period	$	325		$	—		$	—		$	325

Summary of Significant Accounting Policies	9 Months Ended
Summary of Significant Accounting Policies	Sep. 30, 2020
Accounting Policies [Abstract]
Significant Accounting Policies	Summary of Significant Accounting Policies Recently Adopted Accounting Pronouncements No accounting pronouncements adopted during the nine months ended September 30, 2020 had a material impact on the Company's condensed consolidated financial statements. Recent Accounting Pronouncements Not Yet Adopted No new accounting pronouncements issued but not yet adopted are expected to have a material impact on the Company's condensed consolidated financial statements.

Revenues (Notes)

9 Months Ended

Sep. 30, 2020

Revenue from Contract with Customer [Abstract]

Revenue from Contract with Customer [Text Block]

Revenues

Site rental revenues

The Company generates site rental revenues from its core business by providing tenants with access, including space or capacity, to its shared communications infrastructure via long-term tenant contracts in various forms, including lease, license, sublease and service agreements. Providing such access over the length of the tenant contract term represents the Company’s sole performance obligation under its tenant contracts.

Site rental revenues from the Company's tenant contracts are recognized on a straight-line, ratable basis over the fixed, non-cancelable term of the relevant tenant contract, which generally ranges from five to 15 years for wireless tenants and three to 20 years for the Company's fiber solutions tenants (including from organizations with high-bandwidth and multi-location demands), regardless of whether the payments from the tenant are received in equal monthly amounts during the life of the tenant contract. Certain of the Company's tenant contracts contain (1) fixed escalation clauses (such as fixed dollar or fixed percentage increases) or inflation-based escalation clauses (such as those tied to the CPI), (2) multiple renewal periods exercisable at the tenant's option and (3) only limited termination rights at the applicable tenant's option through the current term. If the payment terms call for fixed escalations, upfront payments, or rent-free periods, the revenue is recognized on a straight-line basis over the fixed, non-cancelable term of the agreement. When calculating straight-line rental revenues, the Company considers all fixed elements of tenant contractual escalation provisions, even if such escalation provisions contain a variable element in addition to a minimum. The Company's assets related to straight-line site rental revenues include current amounts of $145 million included in "Other current assets" and non-current amounts of $1.4 billion included in "Deferred site rental receivables" as of September 30, 2020. Amounts billed or received prior to being earned are deferred and reflected in "Deferred revenues" and "Other long-term liabilities." Amounts

to which the Company has an unconditional right to payment, which are related to both satisfied or partially satisfied performance obligations, are recorded within "Receivables, net" on the Company's condensed consolidated balance sheet.

Services and other revenues

As part of the Company’s effort to provide comprehensive communications infrastructure solutions, as an ancillary business, the Company offers certain services primarily relating to its Towers segment, predominately consisting of (1) site development services and (2) installation services. Upon contract commencement, the Company assesses its services to tenants and identifies performance obligations for each promise to provide a distinct service.

The Company may have multiple performance obligations for site development services, which primarily include: structural analysis, zoning, permitting and construction drawings. For each of the above performance obligations, services revenues are recognized at completion of the applicable performance obligation, which represents the point at which the Company believes it has transferred goods or services to the tenant. The revenue recognized is based on an allocation of the transaction price among the performance obligations in a respective contract based on estimated standalone selling price. The volume and mix of site development services may vary among contracts and may include a combination of some or all of the above performance obligations. Payments generally are due within 45 to 60 days and generally do not contain variable-consideration provisions. The transaction price for the Company's tower installation services consists of amounts for (1) permanent improvements to the Company's towers that represent a lease component and (2) the performance of the service. Amounts under the Company's tower installation service agreements that represent a lease component are recognized as site rental revenues on a straight-line basis over the length of the associated estimated lease term. For the performance of the installation service, the Company has one performance obligation, which is satisfied at the time of the applicable installation or augmentation and recognized as services and other revenues. Since performance obligations are typically satisfied prior to receiving payment from tenants, the unconditional right to payment is recorded within "Receivables, net" on the Company’s condensed consolidated balance sheet. The vast majority of the Company’s services generally have a duration of one year or less.

Additional information on revenues

The following additional information on revenues reflects the impact of the Historical Adjustments, where applicable, as discussed in note 2. As of January 1, 2020 and September 30, 2020, $2.9 billion and $3.0 billion, respectively, of unrecognized revenue was reported in "Deferred revenues" and "Other long-term liabilities" on our condensed consolidated balance sheet. During the nine months ended September 30, 2020, approximately $440 million of the January 1, 2020 unrecognized revenue balance was recognized as revenue. During the nine months ended September 30, 2019, approximately $390 million of the January 1, 2019 unrecognized revenue balance was recognized as revenue.

The following table is a summary of the non-cancelable contracted amounts owed to the Company by tenants pursuant to tenant contracts in effect as of September 30, 2020.



	Three Months Ending December 31,		Years Ending December 31,
	2020		2021		2022		2023		2024		Thereafter		Total
Contracted amounts^(a)	$	1,166	$	4,260	$	4,019	$	3,377	$	2,650	$	7,929	$	23,401


(a)	Based on the nature of the contract, tenant contracts are accounted for pursuant to relevant lease accounting (ASC 842) or revenue accounting (ASC 606) guidance. Excludes amounts related to services, as those contracts generally have a duration of one year or less.

See note 11 for further information regarding the Company's operating segments.

Debt and Other Obligations [Abstract]

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI http://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130551-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130556-203045

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130550-203045

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130558-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

+ Details

Debt and Other Obligations

9 Months Ended

Sep. 30, 2020

Debt and Other Obligations

The table below sets forth the Company's debt and other obligations as of September 30, 2020.



	Original Issue Date		Final Maturity Date^(a)		Balance as of September 30, 2020			Balance as of December 31, 2019		Stated Interest Rate as of September 30, 2020^(a)
3.849% Secured Notes	Dec. 2012		Apr. 2023		$	996		$	995	3.9	%
Secured Notes, Series 2009-1, Class A-2	July 2009		Aug. 2029		62			67		9.0	%
Tower Revenue Notes, Series 2015-1	May 2015		May 2042	_(b)	299			298		3.2	%
Tower Revenue Notes, Series 2018-1	July 2018		July 2043	_(b)	248			248		3.7	%
Tower Revenue Notes, Series 2015-2	May 2015		May 2045	_(b)	695			694		3.7	%
Tower Revenue Notes, Series 2018-2	July 2018		July 2048	_(b)	743			742		4.2	%
Finance leases and other obligations	Various		Various	_(c)	229			227		Various		_(c)
Total secured debt					$	3,272		$	3,271
2016 Revolver	Jan. 2016		June 2024		$	520	_(d)	$	525	1.2	%	_(e)
2016 Term Loan A	Jan. 2016		June 2024		2,266			2,310		1.3	%	_(e)
Commercial Paper Notes	Sept. 2020	_(f)	Oct. 2020	_(f)	75		_(f)	155		0.5	%
3.400% Senior Notes	Feb./May 2016		Feb. 2021	_(h)	—			850		3.4	%
2.250% Senior Notes	Sept. 2016		Sept. 2021	_(h)	—			698		2.3	%
4.875% Senior Notes	Apr. 2014		Apr. 2022	_(h)	—			846		4.9	%
5.250% Senior Notes	Oct. 2012		Jan. 2023		1,645			1,644		5.3	%
3.150% Senior Notes	Jan. 2018		July 2023		745			744		3.2	%
3.200% Senior Notes	Aug. 2017		Sept. 2024		745			744		3.2	%
1.350% Senior Notes	June 2020		July 2025	_(h)	494			—		1.4	%
4.450% Senior Notes	Feb. 2016		Feb. 2026		894			893		4.5	%
3.700% Senior Notes	May 2016		June 2026		745			744		3.7	%
4.000% Senior Notes	Feb. 2017		Mar. 2027		496			495		4.0	%
3.650% Senior Notes	Aug. 2017		Sept. 2027		994			993		3.7	%
3.800% Senior Notes	Jan. 2018		Feb. 2028		991			990		3.8	%
4.300% Senior Notes	Feb. 2019		Feb. 2029		592			592		4.3	%
3.100% Senior Notes	Aug. 2019		Nov. 2029		544			543		3.1	%
3.300% Senior Notes	Apr. 2020		July 2030	_(g)	736			—		3.3	%
2.250% Senior Notes	June 2020		Jan. 2031	_(h)	1,088			—		2.3	%
4.750% Senior Notes	May 2017		May 2047		344			344		4.8	%
5.200% Senior Notes	Feb. 2019		Feb. 2049		395			395		5.2	%
4.000% Senior Notes	Aug. 2019		Nov. 2049		345			345		4.0	%
4.150% Senior Notes	Apr. 2020		July 2050	_(g)	489			—		4.2	%
3.250% Senior Notes	June 2020		Jan. 2051	_(h)	889			—		3.3	%
Total unsecured debt					$	16,032		$	14,850
Total debt and other obligations					19,304			18,121
Less: current maturities and short-term debt and other current obligations					114			100
Non-current portion of long-term debt and other long-term obligations					$	19,190		$	18,021


(a)	See the 2019 Form 10-K, including note 9, for additional information regarding the maturity and principal amortization provisions and interest rates relating to the Company's indebtedness.

(b)

If the respective series of Tower Revenue Notes are not paid in full on or prior to an applicable anticipated repayment date, then Excess Cash Flow (as defined in the indenture) of the issuers of such notes will be used to repay principal of the applicable series and class of the Tower Revenue Notes, and additional interest (of an additional approximately 5% per annum) will accrue on the respective Tower Revenue Notes. As of September 30, 2020, the Tower Revenue Notes have principal amounts of $300 million, $250 million, $700 million and $750 million, with anticipated repayment dates in 2022, 2023, 2025 and 2028, respectively.


(c)	The Company's finance leases and other obligations relate to land, fiber, vehicles, and other assets and bear interest rates ranging up to 10% and mature in periods ranging from less than one year to approximately 30 years.


(d)	As of September 30, 2020, the undrawn availability under the 2016 Revolver was $4.4 billion.

(e)

Both the 2016 Revolver and 2016 Term Loan A bear interest, at our option, at either (1) LIBOR plus a credit spread ranging from 0.875% to 1.750% per annum or (2) an alternate base rate plus a credit spread ranging from 0.000% to 0.750% per annum, in each case, with the applicable credit spread based on the Company's senior unsecured debt rating. The Company pays a commitment fee ranging from 0.125% to 0.350%, based on the Company's senior unsecured debt rating, per annum on the undrawn available amount under the 2016 Revolver.

(f)

Notes under the CP Program may be issued, repaid and re-issued from time to time, with an aggregate principal amount of Commercial Paper Notes outstanding under the CP Program at any time not to exceed $1.0 billion. The net proceeds of the Commercial Paper Notes are expected to be used for general corporate purposes. The maturities of the 2019 Commercial Paper Notes, when outstanding, may vary but may not exceed 397 days from the date of issue. The Commercial Paper Notes are issued under customary terms in the commercial paper market and are issued at a discount from par or, alternatively, can be issued at par and bear varying interest rates on a fixed or floating basis. As of September 30, 2020, the Company had net issuances of $75 million under the CP Program. At any point in time, the Company intends to maintain available commitments under its 2016 Revolver in an amount at least equal to the amount of Commercial Paper Notes outstanding. While any outstanding Commercial Paper Notes generally have short-term maturities, the Company classifies the outstanding issuances, when applicable, as long-term based on its ability and intent to refinance the outstanding issuances on a long-term basis.

(g)

In April 2020, the Company issued $1.25 billion aggregate principal amount of senior unsecured notes ("April 2020 Senior Notes"), which consisted of (1) $750 million aggregate principal amount of 3.300% senior unsecured notes due July 2030 and (2) $500 million aggregate principal amount of 4.150% senior unsecured notes due July 2050. The company used the net proceeds of the April 2020 Senior Notes offering to repay outstanding indebtedness under the 2016 Revolver.

(h)

In June 2020, the Company issued $2.5 billion aggregate principal amount of senior unsecured notes ("June 2020 Senior Notes"), which consisted of (1) $500 million aggregate principal amount of 1.350% senior unsecured notes due July 2025, (2) $1.1 billion aggregate principal amount of 2.250% senior unsecured notes due January 2031 and (3) $900 million aggregate principal amount of 3.250% senior unsecured notes due January 2051. In July 2020, the Company used the net proceeds of the June 2020 Senior Notes offering, together with available cash, to redeem all of the previously outstanding 3.400% Senior Notes, 2.250% Senior Notes and 4.875% Senior Notes.

The following are the scheduled principal payments and final maturities of the total debt and other long-term obligations of the Company outstanding as of September 30, 2020, which do not consider the principal payments that will commence following the anticipated repayment dates on the Tower Revenue Notes.



	Three Months Ending December 31,			Years Ending December 31,												Unamortized Adjustments, Net			Total Debt and Other Obligations Outstanding
	2020			2021		2022		2023		2024		Thereafter		Total Cash Obligations		Unamortized Adjustments, Net			Total Debt and Other Obligations Outstanding
Scheduled principal payments and final maturities	$	102	^(a)	$	128	$	152	$	3,606	$	3,169	$	12,296	$	19,453	$	(149	)	$	19,304


(a)	Predominately consists of outstanding indebtedness under the Company's CP Program. Such amounts may be issued, repaid or re-issued from time to time.

Purchases and Redemptions of Long-Term Debt

The following is a summary of purchases and redemptions of long-term debt during the nine months ended September 30, 2020.



	Principal Amount		Cash Paid^(a)		Gains (Losses)^(b)
3.400% Senior Notes	$	850	$	863	$	13
2.250% Senior Notes	700		714		16
4.875% Senior Notes	850		913		66
Total	$	2,400	$	2,490	$	95


(a)	Exclusive of accrued interest.


(b)	Inclusive of the write off of respective deferred financing costs.

Interest Expense and Amortization of Deferred Financing Costs

The components of interest expense and amortization of deferred financing costs are as follows:



	Three Months Ended September 30,						Nine Months Ended September 30,
	2020			2019			2020			2019
Interest expense on debt obligations	$	167		$	173		$	517		$	509
Amortization of deferred financing costs and adjustments on long-term debt	6			5			17			15
Capitalized interest	(5		)	(5		)	(13		)	(14		)
Total	$	168		$	173		$	521		$	510

Fair Value Disclosures

9 Months Ended

Sep. 30, 2020

Fair Value Disclosures [Abstract]

Fair Value Disclosures



	Level in Fair Value Hierarchy	September 30, 2020				December 31, 2019
	Level in Fair Value Hierarchy	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Assets:
Cash and cash equivalents	1	$	242	$	242	$	196	$	196
Restricted cash, current and non-current	1	179		179		142		142
Liabilities:
Total debt and other obligations	2	19,304		21,082		18,121		19,170

The fair value of cash and cash equivalents and restricted cash approximate the carrying value. The Company determines the fair value of its debt securities based on indicative, non-binding quotes from brokers. Quotes from brokers require judgment and are based on the brokers' interpretation of market information, including implied credit spreads for similar borrowings on recent trades or bid/ask prices or quotes from active markets if available. Since December 31, 2019, there have been no changes in the Company's valuation techniques used to measure fair values.

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Income Taxes	9 Months Ended
Income Taxes	Sep. 30, 2020
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company operates as a REIT for U.S. federal income tax purposes. As a REIT, the Company is generally entitled to a deduction for dividends that it pays and therefore is not subject to U.S. federal corporate income tax on its net taxable income that is currently distributed to its stockholders. The Company also may be subject to certain federal, state, local and foreign taxes on its income and assets, including (1) taxes on any undistributed income, (2) taxes related to the TRSs, (3) franchise taxes, (4) property taxes, and (5) transfer taxes. In addition, the Company could under certain circumstances be required to pay an excise or penalty tax, which could be significant in amount, in order to utilize one or more relief provisions under the Internal Revenue Code of 1986, as amended, to maintain qualification for taxation as a REIT. The Company's TRS assets and operations will continue to be subject, as applicable, to federal and state corporate income taxes or to foreign taxes in the jurisdictions in which such assets and operations are located. The Company's foreign assets and operations (including its tower operations in Puerto Rico) are subject to foreign income taxes in the jurisdictions in which such assets and operations are located, regardless of whether they are included in a TRS or not. For the nine months ended September 30, 2020 and 2019, the Company's effective tax rate differed from the federal statutory rate predominately due to the Company's REIT status, including the dividends paid deduction.

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References + Details

Per Share Information

9 Months Ended

Sep. 30, 2020

Earnings Per Share [Abstract]

Per Share Information

Basic net income (loss) attributable to CCIC common stockholders, per common share, excludes dilution and is computed by dividing net income (loss) attributable to CCIC common stockholders by the weighted-average number of common shares outstanding during the period. For the three and nine months ended September 30, 2020 and 2019, diluted net income (loss) attributable to CCIC common stockholders, per common share, is computed by dividing net income (loss) attributable to CCIC common stockholders by the weighted-average number of common shares outstanding during the period, plus any potential dilutive common share equivalents, including shares issuable upon (1) the vesting of restricted stock units as determined under the treasury stock method and (2) conversion of the Company's previously outstanding 6.875% Mandatory Convertible Preferred Stock, as applicable, as determined under the if-converted method. The table below also gives effect to the Historical Adjustments, as described in note 2. See also note 10 for a discussion of the July and August 2020 conversions of the previously outstanding shares of 6.875% Mandatory Convertible Preferred Stock to shares of common stock.



	Three Months Ended September 30,					Nine Months Ended September 30,
	2020		2019			2020			2019
			(As Restated)						(As Restated)
Net income (loss) attributable to CCIC stockholders	$	163	$	242		$	548		$	652
Dividends on preferred stock	—		(28		)	(57		)	(85		)
Net income (loss) attributable to CCIC common stockholders for basic and diluted computations	$	163	$	214		$	491		$	567

Weighted-average number of common shares outstanding (in millions):
Basic weighted-average number of common stock outstanding	427		416			420			416
Effect of assumed dilution from potential issuance of common shares relating to restricted stock units	2		2			2			2
Diluted weighted-average number of common shares outstanding	429		418			422			418

Net income (loss) attributable to CCIC common stockholders, per common share:
Basic	$	0.38	$	0.51		$	1.17		$	1.36
Diluted	$	0.38	$	0.51		$	1.17		$	1.36

Dividends/distributions declared per share of common stock	$	1.20	$	1.125		$	3.60		$	3.375
Dividends/distributions declared per share of preferred stock	$	—	$	17.1875		$	34.3750		$	51.5625

During the nine months ended September 30, 2020, the Company granted one million restricted stock units to the Company's executives and certain other employees pursuant to its 2013 Long-Term Incentive Plan.

Commitments and Contingencies	9 Months Ended
Commitments and Contingencies	Sep. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies SEC Investigation In September 2019, the Company received a subpoena from the SEC requesting certain documents from 2015 through the present, primarily related to the Company's long-standing capitalization and expense policies for tenant upgrades and installations in its services business. Prior to receiving this subpoena, the Company previously provided information to the SEC related to certain services-related transactions. The Company is cooperating fully with the SEC's investigation and cannot predict the ultimate timing, scope or outcome of this matter. Shareholder Litigation In February and March 2020, putative securities class action suits were filed in the United States District Court for the District of New Jersey against the Company and certain of its current officers. The lawsuits were filed on behalf of investors that purchased or otherwise acquired stock of the Company between February 26, 2018 and February 26, 2020. The allegations relate to allegedly false or misleading statements or other failures to disclose information about the Company's business, operations and prospects. The complaints seek unspecified money damages and the award of the plaintiffs' costs and expenses incurred in the respective class action. The Company is currently unable to determine the likelihood of an outcome or estimate a range of reasonably possible losses, if any, with respect to these lawsuits. The Company believes these lawsuits are without merit and intends to defend itself vigorously. During the quarter ended June 30, 2020, derivative lawsuits were filed in the United States District Court for the District of Delaware, against the Company's current directors and certain of its current officers and the Company as a nominal defendant. Each of the complaints alleges, among other things, breaches of fiduciary duties, waste of corporate assets, unjust enrichment, and false or misleading statements. Each of the complaints seeks, among other things, unspecified money damages, costs and expenses, restitution from the defendants, and an order requiring the Company to implement certain corporate governance reforms. As a nominal defendant, no monetary relief is sought against the Company itself. In June 2020, the derivative lawsuits were consolidated as In re Crown Castle International Corp. Derivative Litigation, C.A. No. 20-00606-MN in the United States District Court for the District of Delaware. Durham Lawsuits The Company has received notices of claims and has been named as one of several defendants in lawsuits stemming from an April 2019 gas leak explosion in Durham, North Carolina, which occurred near an area where the Company's subcontractors were installing fiber. The explosion resulted in two fatalities, physical injuries (some of which were serious), and property damage to surrounding buildings and businesses. Currently, the Company is unable to determine the likelihood of an outcome or estimate a range of possible losses, if any, related to these lawsuits. New York State Department of Transportation In 2019, the State of New York passed legislation authorizing the Department of Transportation ("NYSDOT") to enter into agreements with any fiber provider for the use and occupancy of the state right-of-way for fiber optic lines. The legislation authorizes the NYSDOT to charge a fee of up to fair market value for such use and occupancy. To date, the Company has paid fees relating to newly deployed fiber lines but has not been required to pay, and has not recognized any costs in connection with, any fees relating to previously deployed fiber lines. The Company believes that the legislation violates both federal and state law and is evaluating its legal options regarding any use and occupancy fees that may be assessed on previously deployed fiber. Currently, the Company is unable to determine the likelihood of an outcome or reasonably estimate the amount of fees, if any, that it may be required to pay as a result of the legislation. Other Matters The Company is involved in various other claims, assessments, lawsuits or proceedings arising in the ordinary course of business. While there are uncertainties inherent in the ultimate outcome of such other matters and it is impossible to presently determine the ultimate costs or losses that may be incurred, if any, management believes the adverse resolution of such uncertainties and the incurrence of such costs should not have a material adverse effect on the Company's condensed consolidated financial position or results of operations. Additionally, the Company and certain of its subsidiaries are contingently liable for commitments or performance guarantees arising in the ordinary course of business, including certain letters of credit or surety bonds. In addition, see note 1 for a discussion of the Company's option to purchase approximately 53% of its towers at the end of their respective lease terms. The Company has no obligation to exercise such purchase options.

Equity

9 Months Ended

Sep. 30, 2020

Equity [Abstract]

Equity

Declaration and Payment of Dividends

During the nine months ended September 30, 2020, the following dividends/distributions were declared or paid:



Equity Type	Declaration Date	Record Date	Payment Date	Dividends Per Share		Aggregate Payment Amount
Common Stock	February 20, 2020	March 13, 2020	March 31, 2020	$	1.20	$	504	^(a)
Common Stock	May 14, 2020	June 12, 2020	June 30, 2020	$	1.20	$	504	^(a)
Common Stock	August 6, 2020	September 15, 2020	September 30, 2020	$	1.20	$	521	^(a)
6.875% Mandatory Convertible Preferred Stock	December 9, 2019	January 15, 2020	February 3, 2020	$	17.1875	$	28
6.875% Mandatory Convertible Preferred Stock	March 12, 2020	April 15, 2020	May 1, 2020	$	17.1875	$	28
6.875% Mandatory Convertible Preferred Stock	June 19, 2020	July 15, 2020	August 3, 2020	$	17.1875	$	28


(a)	Inclusive of dividends accrued for holders of unvested restricted stock units, which will be paid when and if the restricted stock units vest.

See also note 13 for a discussion of the Company's common stock dividend declared in October 2020.

Convertible Preferred Stock Conversion

In July and August 2020, all of the approximately 2 million shares of the Company's previously outstanding 6.875% Mandatory Convertible Preferred Stock were converted into approximately 14 million shares of the Company's common stock at a conversion rate (based on the applicable market value of the common stock and subject to certain anti-dilutive adjustments) of 8.8043 shares of common stock per each share of 6.875% Mandatory Convertible Preferred Stock.

Purchases of the Company's Common Stock

For the nine months ended September 30, 2020, the Company purchased 0.5 million shares of its common stock utilizing $75 million in cash. The shares of common stock purchased relate to shares withheld in connection with the payment of withholding taxes upon vesting of restricted stock units.

2018 "At-the-Market" Stock Offering Program

In April 2018, the Company established an "at-the-market" stock offering program through which it may issue and sell shares of its common stock having an aggregate gross sales price of up to $750 million ("2018 ATM Program"). Sales under the 2018 ATM Program may be made by means of ordinary brokers' transactions on the NYSE or otherwise at market prices prevailing at the time of sale, at prices related to prevailing market prices or, subject to our specific instructions, at negotiated prices. The Company intends to use the net proceeds from any sales under the 2018 ATM Program for general corporate purposes, which may include (1) the funding of future acquisitions or investments or (2) the repayment or repurchase of any outstanding indebtedness. The Company has not sold any shares of common stock under the 2018 ATM Program.

Operating Segments

9 Months Ended

Sep. 30, 2020

Segment Reporting [Abstract]

Operating Segments

The Company's operating segments consist of (1) Towers and (2) Fiber. The Towers segment provides access, including space or capacity, to the Company's approximately 40,000 towers geographically dispersed throughout the U.S. The Towers segment also reflects certain ancillary services relating to the Company's towers, predominately consisting of site development services and installation services. The Fiber segment provides access, including space or capacity, to the Company's approximately 80,000 route miles of fiber primarily supporting small cell networks and fiber solutions geographically dispersed throughout the U.S.

The measurements of profit or loss used by the Company's chief operating decision maker ("CODM") to evaluate the performance of its operating segments are (1) segment site rental gross margin, (2) segment services and other gross margin and (3) segment operating profit. The Company defines segment site rental gross margin as segment site rental revenues less segment site rental cost of operations, which excludes stock-based compensation expense and prepaid lease purchase price adjustments recorded in consolidated cost of operations. The Company defines segment services and other gross margin as segment services and other revenues less segment services and other cost of operations, which excludes stock-based compensation expense recorded in consolidated cost of operations. The Company defines segment operating profit as segment site rental gross margin plus segment services and other gross margin, less selling, general and administrative expenses attributable to the respective segment. All of these measurements of profit or loss are exclusive of depreciation, amortization and accretion, which are shown separately.

The following tables set forth the Company's segment operating results for the three and nine months ended September 30, 2020 and 2019. Costs that are directly attributable to Towers and Fiber are assigned to those respective segments. Additionally, certain costs are shared across segments and are reflected in the Company's segment measures through allocations that management believes to be reasonable. The "Other" column (1) represents amounts excluded from specific segments, such as asset write-down charges, acquisition and integration costs, depreciation, amortization and accretion, amortization of prepaid lease purchase price adjustments, interest expense and amortization of deferred financing costs, gains (losses) on retirement of long-term obligations, net gain (loss) on interest rate swaps, gains (losses) on foreign currency swaps, interest income, other income (expense), income (loss) from discontinued operations, and stock-based compensation expense, and (2) reconciles segment operating profit to income (loss) before income taxes, as the amounts are not utilized in assessing each segment’s performance. The "Other" total assets balance includes corporate assets such as cash and cash equivalents which have not been allocated to specific segments. There are no significant revenues resulting from transactions between the Company's operating segments.

The tables below also give effect to the Historical Adjustments, as described in note 2. Each of the Historical Adjustments for the three and nine months ended September 30, 2019 are attributable only to the Towers segment.



	Three Months Ended September 30, 2020								Three Months Ended September 30, 2019 (As Restated)
	Towers		Fiber		Other		Consolidated Total		Towers		Fiber		Other		Consolidated Total
Segment site rental revenues	$	877	$	462			$	1,339	$	856	$	431			$	1,287
Segment services and other revenues	142		5				147		191		4				195
Segment revenues	1,019		467				1,486		1,047		435				1,482
Segment site rental cost of operations	216		145				361		218		141				359
Segment services and other cost of operations	111		4				115		142		2				144
Segment cost of operations^(a)(b)	327		149				476		360		143				503
Segment site rental gross margin	661		317				978		638		290				928
Segment services and other gross margin	31		1				32		49		2				51
Segment selling, general and administrative expenses^(b)	22		42				64		23		49				72
Segment operating profit (loss)	670		276				946		664		243				907
Other selling, general and administrative expenses					$	63	63						$	56	56
Stock-based compensation expense					33		33						29		29
Depreciation, amortization and accretion					406		406						388		388
Interest expense and amortization of deferred financing costs					168		168						173		173
Other (income) expenses to reconcile to income (loss) before income taxes^(c)					108		108						14		14
Income (loss) before income taxes							$	168							$	247
Capital expenditures	$	76	$	287	$	14	$	377	$	145	$	382	$	12	$	539
Total assets (at period end)	$	22,248	$	15,692	$	846	$	38,786	$	22,078	$	15,565	$	678	$	38,321


(a)	Exclusive of depreciation, amortization and accretion shown separately.

(b)

Segment cost of operations excludes (1) stock-based compensation of $6 million and $7 million for the three months ended September 30, 2020 and 2019, respectively, and (2) prepaid lease purchase price adjustments of $5 million for both of the three months ended September 30, 2020 and 2019. Selling, general and administrative expenses exclude stock-based compensation expense of $27 million and $22 million for the three months ended September 30, 2020 and 2019, respectively.


(c)	See condensed consolidated statement of operations for further information.



	Nine Months Ended September 30, 2020								Nine Months Ended September 30, 2019 (As Restated)
	Towers		Fiber		Other		Consolidated Total		Towers		Fiber		Other		Consolidated Total
Segment site rental revenues	$	2,612	$	1,356			$	3,968	$	2,526	$	1,267			$	3,793
Segment services and other revenues	367		12				379		533		11				544
Segment revenues	2,979		1,368				4,347		3,059		1,278				4,337
Segment site rental cost of operations	648		447				1,095		647		418				1,065
Segment services and other cost of operations	311		8				319		395		6				401
Segment cost of operations^(a)(b)	959		455				1,414		1,042		424				1,466
Segment site rental gross margin	1,964		909				2,873		1,879		849				2,728
Segment services and other gross margin	56		4				60		138		5				143
Segment selling, general and administrative expenses^(b)	71		137				208		73		147				220
Segment operating profit (loss)	1,949		776				2,725		1,944		707				2,651
Other selling, general and administrative expenses					$	198	198						$	168	168
Stock-based compensation expense					106		106						90		90
Depreciation, amortization and accretion					1,207		1,207						1,175		1,175
Interest expense and amortization of deferred financing costs					521		521						510		510
Other (income) expenses to reconcile to income (loss) before income taxes^(c)					129		129						41		41
Income (loss) before income taxes							$	564							$	667
Capital expenditures	$	272	$	926	$	40	$	1,238	$	402	$	1,108	$	27	$	1,537


(a)	Exclusive of depreciation, amortization and accretion shown separately.

(b)

Segment cost of operations excludes (1) stock-based compensation expense of $19 million and $21 million for the nine months ended September 30, 2020 and 2019, respectively, and (2) prepaid lease purchase price adjustments of $14 million and $15 million for the nine months ended September 30, 2020 and 2019, respectively. Selling, general and administrative expenses exclude stock-based compensation expense of $87 million and $69 million for the nine months ended September 30, 2020 and 2019, respectively.

(c)

See condensed consolidated statement of operations for further information.

Supplemental Cash Flow Information [Abstract]

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8981-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9054-108599

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8657-108599

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
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-Paragraph 21
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-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI http://asc.fasb.org/topic&trid=2134510

+ Details

Supplemental Cash Flow Information

9 Months Ended

Sep. 30, 2020

Supplemental Cash Flow Information

The following table is a summary of the Company's supplemental cash flow information:



	Nine Months Ended September 30,
	2020		2019
Supplemental disclosure of cash flow information:
Cash payments related to operating lease liabilities^(a)	$	405	$	409
Interest paid	564		547
Income taxes paid	13		13
Supplemental disclosure of non-cash operating, investing and financing activities:
New ROU assets obtained in exchange for operating lease liabilities	445		327
Increase (decrease) in accounts payable for purchases of property and equipment	30		17
Purchase of property and equipment under finance leases and installment purchases	23		28


(a)	Excludes the Company's contingent payments pursuant to operating leases, which are recorded as expense in the period such contingencies are resolved.

The reconciliation of cash, cash equivalents, and restricted cash reported within various lines on the condensed consolidated balance sheet to amounts reported in the condensed consolidated statement of cash flows is shown below.



	September 30, 2020		December 31, 2019
Cash and cash equivalents	$	242	$	196
Restricted cash, current	174		137
Restricted cash reported within other assets, net	5		5
Cash, cash equivalents and restricted cash	$	421	$	338

Subsequent Events (Notes)	9 Months Ended
Subsequent Events (Notes)	Sep. 30, 2020
Subsequent Event [Line Items]
Subsequent Events [Text Block]	Common Stock Dividend On October 21, 2020, the Company's board of directors declared a quarterly cash dividend of $1.33 per common share. The quarterly dividend will be payable on December 31, 2020 to common stockholders of record as of December 15, 2020.

Summary of Significant Accounting Policies (Policies)	9 Months Ended
Summary of Significant Accounting Policies (Policies)	Sep. 30, 2020
Accounting Policies [Abstract]
Recent accounting prounouncements	Recently Adopted Accounting Pronouncements No accounting pronouncements adopted during the nine months ended September 30, 2020 had a material impact on the Company's condensed consolidated financial statements. Recent Accounting Pronouncements Not Yet Adopted No new accounting pronouncements issued but not yet adopted are expected to have a material impact on the Company's condensed consolidated financial statements.

Restatement of Previously Issued Condensed Consolidated Financial Statements (Tables)

9 Months Ended

Sep. 30, 2019

Accounting Changes and Error Corrections [Abstract]

Condensed Balance Sheet [Table Text Block]

Condensed Consolidated Balance Sheet



	September 30, 2019
	As Reported			Restatement Adjustments			Other Adjustments			As Restated
ASSETS
Property and equipment, net	$	14,416		$	—		$	(23	)	$	14,393
Total assets	38,344			—			(23		)	38,321
LIABILITIES AND EQUITY
Current liabilities:
Deferred revenues	525			113			—			638
Total current liabilities	1,734			113			—			1,847
Other long-term liabilities	2,055			403			—			2,458
Total liabilities	27,019			516			—			27,535
CCIC stockholders' equity:
Dividends/distributions in excess of earnings	(6,503		)	(516		)	(23		)	(7,042		)
Total equity	11,325			(516		)	(23		)	10,786
Total liabilities and equity	$	38,344		$	—		$	(23	)	$	38,321

Condensed Income Statement [Table Text Block]

Condensed Consolidated Statement of Operations and Comprehensive Income (Loss)



	Three Months Ended September 30, 2019
	As Reported		Restatement Adjustments			Other Adjustments			As Restated
Net revenues:
Site rental	$	1,260	$	27		$	—		$	1,287
Services and other	254		(57		)	(2		)	195
Net revenues	1,514		(30		)	(2		)	1,482
Operating expenses:
Costs of operations^(a):
Services and other	147		—			(1		)	146
Depreciation, amortization and accretion	389		—			(1		)	388
Total operating expenses	1,061		—			(2		)	1,059
Operating income (loss)	453		(30		)	—			423
Income (loss) before income taxes	277		(30		)	—			247
Net income (loss) attributable to CCIC stockholders	272		(30		)	—			242
Net income (loss) attributable to CCIC common stockholders	$	244	$	(30	)	$	—		$	214
Net income (loss)	$	272	$	(30	)	$	—		$	242
Comprehensive income (loss) attributable to CCIC stockholders	$	272	$	(30	)	$	—		$	242
Net income (loss) attributable to CCIC common stockholders, per common share:
Net income (loss) attributable to CCIC common stockholders - basic	$	0.59	$	(0.08	)	$	—		$	0.51
Net income (loss) attributable to CCIC common stockholders - diluted	$	0.58	$	(0.07	)	$	—		$	0.51



	Nine Months Ended September 30, 2019
	As Reported		Restatement Adjustments			Other Adjustments			As Restated
Net revenues:
Site rental	$	3,718	$	75		$	—		$	3,793
Services and other	700		(152		)	(4		)	544
Net revenues	4,418		(77		)	(4		)	4,337
Operating expenses:
Costs of operations^(a):
Services and other	410		—			(3		)	407
Depreciation, amortization and accretion	1,176		—			(1		)	1,175
Total operating expenses	3,161		—			(4		)	3,157
Operating income (loss)	1,257		(77		)	—			1,180
Income (loss) before income taxes	744		(77		)	—			667
Net income (loss) attributable to CCIC stockholders	729		(77		)	—			652
Net income (loss) attributable to CCIC common stockholders	$	644	$	(77	)	$	—		$	567
Net income (loss)	$	729	$	(77	)	$	—		$	652
Comprehensive income (loss) attributable to CCIC stockholders	$	729	$	(77	)	$	—		$	652
Net income (loss) attributable to CCIC common stockholders, per common share:
Net income (loss) attributable to CCIC common stockholders - basic	$	1.55	$	(0.19	)	$	—		$	1.36
Net income (loss) attributable to CCIC common stockholders - diluted	$	1.54	$	(0.18	)	$	—		$	1.36


(a)	Exclusive of depreciation, amortization and accretion shown separately.

Condensed Cash Flow Statement [Table Text Block]

Condensed Consolidated Statement of Cash Flows



	Nine Months Ended September 30, 2019
	As Reported			Restatement Adjustments			Other Adjustments			As Restated
Cash flows from operating activities:
Net income (loss)	$	729		$	(77	)	$	—		$	652
Adjustments to reconcile net income (loss) to net cash provided by (used for) operating activities:
Depreciation, amortization and accretion	1,176			—			(1		)	1,175
Increase (decrease) in other liabilities	102			77			—			179
Net cash provided by (used for) operating activities	1,891			—			(1		)	1,890
Cash flows from investing activities:
Capital expenditures	(1,538		)	—			1			(1,537		)
Net cash provided by (used for) investing activities	(1,550		)	—			1			(1,549		)
Net increase (decrease) in cash, cash equivalents, and restricted cash	(88		)	—			—			(88		)
Cash, cash equivalents, and restricted cash at beginning of period	413			—			—			413
Cash, cash equivalents, and restricted cash at end of period	$	325		$	—		$	—		$	325

Revenues (Tables)

9 Months Ended

Sep. 30, 2020

Revenue from Contract with Customer [Abstract]

Schedule of Contractual Revenue

The following table is a summary of the non-cancelable contracted amounts owed to the Company by tenants pursuant to tenant contracts in effect as of September 30, 2020.



	Three Months Ending December 31,		Years Ending December 31,
	2020		2021		2022		2023		2024		Thereafter		Total
Contracted amounts^(a)	$	1,166	$	4,260	$	4,019	$	3,377	$	2,650	$	7,929	$	23,401

(a)

Based on the nature of the contract, tenant contracts are accounted for pursuant to relevant lease accounting (ASC 842) or revenue accounting (ASC 606) guidance. Excludes amounts related to services, as those contracts generally have a duration of one year or less.

Debt and Other Obligations (Tables)

9 Months Ended

Sep. 30, 2020

Schedule of Long-Term Debt Instruments

The table below sets forth the Company's debt and other obligations as of September 30, 2020.



	Original Issue Date		Final Maturity Date^(a)		Balance as of September 30, 2020			Balance as of December 31, 2019		Stated Interest Rate as of September 30, 2020^(a)
3.849% Secured Notes	Dec. 2012		Apr. 2023		$	996		$	995	3.9	%
Secured Notes, Series 2009-1, Class A-2	July 2009		Aug. 2029		62			67		9.0	%
Tower Revenue Notes, Series 2015-1	May 2015		May 2042	_(b)	299			298		3.2	%
Tower Revenue Notes, Series 2018-1	July 2018		July 2043	_(b)	248			248		3.7	%
Tower Revenue Notes, Series 2015-2	May 2015		May 2045	_(b)	695			694		3.7	%
Tower Revenue Notes, Series 2018-2	July 2018		July 2048	_(b)	743			742		4.2	%
Finance leases and other obligations	Various		Various	_(c)	229			227		Various		_(c)
Total secured debt					$	3,272		$	3,271
2016 Revolver	Jan. 2016		June 2024		$	520	_(d)	$	525	1.2	%	_(e)
2016 Term Loan A	Jan. 2016		June 2024		2,266			2,310		1.3	%	_(e)
Commercial Paper Notes	Sept. 2020	_(f)	Oct. 2020	_(f)	75		_(f)	155		0.5	%
3.400% Senior Notes	Feb./May 2016		Feb. 2021	_(h)	—			850		3.4	%
2.250% Senior Notes	Sept. 2016		Sept. 2021	_(h)	—			698		2.3	%
4.875% Senior Notes	Apr. 2014		Apr. 2022	_(h)	—			846		4.9	%
5.250% Senior Notes	Oct. 2012		Jan. 2023		1,645			1,644		5.3	%
3.150% Senior Notes	Jan. 2018		July 2023		745			744		3.2	%
3.200% Senior Notes	Aug. 2017		Sept. 2024		745			744		3.2	%
1.350% Senior Notes	June 2020		July 2025	_(h)	494			—		1.4	%
4.450% Senior Notes	Feb. 2016		Feb. 2026		894			893		4.5	%
3.700% Senior Notes	May 2016		June 2026		745			744		3.7	%
4.000% Senior Notes	Feb. 2017		Mar. 2027		496			495		4.0	%
3.650% Senior Notes	Aug. 2017		Sept. 2027		994			993		3.7	%
3.800% Senior Notes	Jan. 2018		Feb. 2028		991			990		3.8	%
4.300% Senior Notes	Feb. 2019		Feb. 2029		592			592		4.3	%
3.100% Senior Notes	Aug. 2019		Nov. 2029		544			543		3.1	%
3.300% Senior Notes	Apr. 2020		July 2030	_(g)	736			—		3.3	%
2.250% Senior Notes	June 2020		Jan. 2031	_(h)	1,088			—		2.3	%
4.750% Senior Notes	May 2017		May 2047		344			344		4.8	%
5.200% Senior Notes	Feb. 2019		Feb. 2049		395			395		5.2	%
4.000% Senior Notes	Aug. 2019		Nov. 2049		345			345		4.0	%
4.150% Senior Notes	Apr. 2020		July 2050	_(g)	489			—		4.2	%
3.250% Senior Notes	June 2020		Jan. 2051	_(h)	889			—		3.3	%
Total unsecured debt					$	16,032		$	14,850
Total debt and other obligations					19,304			18,121
Less: current maturities and short-term debt and other current obligations					114			100
Non-current portion of long-term debt and other long-term obligations					$	19,190		$	18,021


(a)	See the 2019 Form 10-K, including note 9, for additional information regarding the maturity and principal amortization provisions and interest rates relating to the Company's indebtedness.

(b)


(c)	The Company's finance leases and other obligations relate to land, fiber, vehicles, and other assets and bear interest rates ranging up to 10% and mature in periods ranging from less than one year to approximately 30 years.


(d)	As of September 30, 2020, the undrawn availability under the 2016 Revolver was $4.4 billion.

(e)

(f)

(g)

(h)

Schedule of Maturities of Long-term Debt



	Three Months Ending December 31,			Years Ending December 31,												Unamortized Adjustments, Net			Total Debt and Other Obligations Outstanding
	2020			2021		2022		2023		2024		Thereafter		Total Cash Obligations		Unamortized Adjustments, Net			Total Debt and Other Obligations Outstanding
Scheduled principal payments and final maturities	$	102	^(a)	$	128	$	152	$	3,606	$	3,169	$	12,296	$	19,453	$	(149	)	$	19,304


(a)	Predominately consists of outstanding indebtedness under the Company's CP Program. Such amounts may be issued, repaid or re-issued from time to time.

Debt Instrument Redemption [Table Text Block]

Purchases and Redemptions of Long-Term Debt

The following is a summary of purchases and redemptions of long-term debt during the nine months ended September 30, 2020.



	Principal Amount		Cash Paid^(a)		Gains (Losses)^(b)
3.400% Senior Notes	$	850	$	863	$	13
2.250% Senior Notes	700		714		16
4.875% Senior Notes	850		913		66
Total	$	2,400	$	2,490	$	95


(a)	Exclusive of accrued interest.

(b)

Inclusive of the write off of respective deferred financing costs.

Components of Interest Expense and Amortization of Deferred Financing Costs

Interest Expense and Amortization of Deferred Financing Costs

The components of interest expense and amortization of deferred financing costs are as follows:



	Three Months Ended September 30,						Nine Months Ended September 30,
	2020			2019			2020			2019
Interest expense on debt obligations	$	167		$	173		$	517		$	509
Amortization of deferred financing costs and adjustments on long-term debt	6			5			17			15
Capitalized interest	(5		)	(5		)	(13		)	(14		)
Total	$	168		$	173		$	521		$	510

Fair Value Disclosures (Tables)

9 Months Ended

Sep. 30, 2020

Fair Value Disclosures [Abstract]

Estimated Fair Values and Carrying Amounts of Assets and Liabilities



	Level in Fair Value Hierarchy	September 30, 2020				December 31, 2019
	Level in Fair Value Hierarchy	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Assets:
Cash and cash equivalents	1	$	242	$	242	$	196	$	196
Restricted cash, current and non-current	1	179		179		142		142
Liabilities:
Total debt and other obligations	2	19,304		21,082		18,121		19,170

Per Share Information (Tables)

9 Months Ended

Sep. 30, 2020

Earnings Per Share [Abstract]

Reconciliation of the Numerators and Denominators of the Basic and Diluted Per Share Computations



	Three Months Ended September 30,					Nine Months Ended September 30,
	2020		2019			2020			2019
			(As Restated)						(As Restated)
Net income (loss) attributable to CCIC stockholders	$	163	$	242		$	548		$	652
Dividends on preferred stock	—		(28		)	(57		)	(85		)
Net income (loss) attributable to CCIC common stockholders for basic and diluted computations	$	163	$	214		$	491		$	567

Weighted-average number of common shares outstanding (in millions):
Basic weighted-average number of common stock outstanding	427		416			420			416
Effect of assumed dilution from potential issuance of common shares relating to restricted stock units	2		2			2			2
Diluted weighted-average number of common shares outstanding	429		418			422			418

Net income (loss) attributable to CCIC common stockholders, per common share:
Basic	$	0.38	$	0.51		$	1.17		$	1.36
Diluted	$	0.38	$	0.51		$	1.17		$	1.36

Dividends/distributions declared per share of common stock	$	1.20	$	1.125		$	3.60		$	3.375
Dividends/distributions declared per share of preferred stock	$	—	$	17.1875		$	34.3750		$	51.5625

Equity (Tables)

9 Months Ended

Sep. 30, 2020

Equity [Abstract]

Dividends Declared

Declaration and Payment of Dividends

During the nine months ended September 30, 2020, the following dividends/distributions were declared or paid:



Equity Type	Declaration Date	Record Date	Payment Date	Dividends Per Share		Aggregate Payment Amount
Common Stock	February 20, 2020	March 13, 2020	March 31, 2020	$	1.20	$	504	^(a)
Common Stock	May 14, 2020	June 12, 2020	June 30, 2020	$	1.20	$	504	^(a)
Common Stock	August 6, 2020	September 15, 2020	September 30, 2020	$	1.20	$	521	^(a)
6.875% Mandatory Convertible Preferred Stock	December 9, 2019	January 15, 2020	February 3, 2020	$	17.1875	$	28
6.875% Mandatory Convertible Preferred Stock	March 12, 2020	April 15, 2020	May 1, 2020	$	17.1875	$	28
6.875% Mandatory Convertible Preferred Stock	June 19, 2020	July 15, 2020	August 3, 2020	$	17.1875	$	28

(a)

Inclusive of dividends accrued for holders of unvested restricted stock units, which will be paid when and if the restricted stock units vest.

Operating Segments Operating Segments (Tables)

9 Months Ended

Sep. 30, 2020

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment



	Three Months Ended September 30, 2020								Three Months Ended September 30, 2019 (As Restated)
	Towers		Fiber		Other		Consolidated Total		Towers		Fiber		Other		Consolidated Total
Segment site rental revenues	$	877	$	462			$	1,339	$	856	$	431			$	1,287
Segment services and other revenues	142		5				147		191		4				195
Segment revenues	1,019		467				1,486		1,047		435				1,482
Segment site rental cost of operations	216		145				361		218		141				359
Segment services and other cost of operations	111		4				115		142		2				144
Segment cost of operations^(a)(b)	327		149				476		360		143				503
Segment site rental gross margin	661		317				978		638		290				928
Segment services and other gross margin	31		1				32		49		2				51
Segment selling, general and administrative expenses^(b)	22		42				64		23		49				72
Segment operating profit (loss)	670		276				946		664		243				907
Other selling, general and administrative expenses					$	63	63						$	56	56
Stock-based compensation expense					33		33						29		29
Depreciation, amortization and accretion					406		406						388		388
Interest expense and amortization of deferred financing costs					168		168						173		173
Other (income) expenses to reconcile to income (loss) before income taxes^(c)					108		108						14		14
Income (loss) before income taxes							$	168							$	247
Capital expenditures	$	76	$	287	$	14	$	377	$	145	$	382	$	12	$	539
Total assets (at period end)	$	22,248	$	15,692	$	846	$	38,786	$	22,078	$	15,565	$	678	$	38,321


(a)	Exclusive of depreciation, amortization and accretion shown separately.

(b)

(c)

See condensed consolidated statement of operations for further information.



	Nine Months Ended September 30, 2020								Nine Months Ended September 30, 2019 (As Restated)
	Towers		Fiber		Other		Consolidated Total		Towers		Fiber		Other		Consolidated Total
Segment site rental revenues	$	2,612	$	1,356			$	3,968	$	2,526	$	1,267			$	3,793
Segment services and other revenues	367		12				379		533		11				544
Segment revenues	2,979		1,368				4,347		3,059		1,278				4,337
Segment site rental cost of operations	648		447				1,095		647		418				1,065
Segment services and other cost of operations	311		8				319		395		6				401
Segment cost of operations^(a)(b)	959		455				1,414		1,042		424				1,466
Segment site rental gross margin	1,964		909				2,873		1,879		849				2,728
Segment services and other gross margin	56		4				60		138		5				143
Segment selling, general and administrative expenses^(b)	71		137				208		73		147				220
Segment operating profit (loss)	1,949		776				2,725		1,944		707				2,651
Other selling, general and administrative expenses					$	198	198						$	168	168
Stock-based compensation expense					106		106						90		90
Depreciation, amortization and accretion					1,207		1,207						1,175		1,175
Interest expense and amortization of deferred financing costs					521		521						510		510
Other (income) expenses to reconcile to income (loss) before income taxes^(c)					129		129						41		41
Income (loss) before income taxes							$	564							$	667
Capital expenditures	$	272	$	926	$	40	$	1,238	$	402	$	1,108	$	27	$	1,537


(a)	Exclusive of depreciation, amortization and accretion shown separately.

(b)

(c)

See condensed consolidated statement of operations for further information.

Supplemental Cash Flow Information (Tables)

9 Months Ended

Sep. 30, 2020

Supplemental Cash Flow Information [Abstract]

Schedule of Cash Flow, Supplemental Disclosures [Table Text Block]

The following table is a summary of the Company's supplemental cash flow information:



	Nine Months Ended September 30,
	2020		2019
Supplemental disclosure of cash flow information:
Cash payments related to operating lease liabilities^(a)	$	405	$	409
Interest paid	564		547
Income taxes paid	13		13
Supplemental disclosure of non-cash operating, investing and financing activities:
New ROU assets obtained in exchange for operating lease liabilities	445		327
Increase (decrease) in accounts payable for purchases of property and equipment	30		17
Purchase of property and equipment under finance leases and installment purchases	23		28

(a)

Excludes the Company's contingent payments pursuant to operating leases, which are recorded as expense in the period such contingencies are resolved.

Schedule of Cash, Cash Equivalents and Restricted Cash



	September 30, 2020		December 31, 2019
Cash and cash equivalents	$	242	$	196
Restricted cash, current	174		137
Restricted cash reported within other assets, net	5		5
Cash, cash equivalents and restricted cash	$	421	$	338

General Business (Details)	Sep. 30, 2020
Subject to Capital Lease with TMO or AT&T [Member]
Purchase Option, Percentage of Towers	53.00%

Restatement of Previously Issued Condensed Consolidated Financial Statements Restated condensed consolidated balance sheet (Details) - USD ($)
$ in Millions

Sep. 30, 2020

Jun. 30, 2020

Dec. 31, 2019

Sep. 30, 2019

Jun. 30, 2019

^[1]

Dec. 31, 2018

^[1]

$ 15,092

$ 14,666

$ 14,393

38,786

38,457

38,321

787

657

638

1,925

1,920

1,847

2,456

2,516

2,458

29,284

27,968

27,535

Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest

(8,402)

(7,365)

(7,042)

9,502

$ 9,826

10,489

10,786

^[1]

$ 11,013

$ 11,571

Previously Reported [Member]

$ 38,786

$ 38,457

38,321

14,416

38,344

525

1,734

2,055

27,019

Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest

(6,503)

11,325

Revision of Prior Period, Adjustment [Member]

38,344

113

113

403

516

Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest

(516)

(516)

Other Adjustment [Member]

(23)

(23)

Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest

(23)

(23)

$ (23)

[1]	The individual components of this column do not sum to the total due to rounding.

Restatement of Previously Issued Condensed Consolidated Financial Statements Restated condensed consolidated income statement (Details) - USD ($)
$ / shares in Units, $ in Millions

3 Months Ended

9 Months Ended

Sep. 30, 2020

Sep. 30, 2019

Sep. 30, 2020

Sep. 30, 2019

$ 1,339

$ 1,287

$ 3,968

$ 3,793

147

195

379

544

1,486

1,482

4,347

4,337

^[1]

117

146

^[2]

324

407

^[2]

Income (Loss) Attributable to Parent, before Tax

1,052

1,059

3,166

3,157

Operating Income (Loss)

434

423

1,181

1,180

247

667

163

242

^[3]

548

652

^[3]

Net Income (Loss) Available to Common Stockholders, Basic

548

652

163

214

491

567

Comprehensive Income (Loss), Net of Tax, Attributable to Parent

$ 165

$ 242

$ 549

$ 652

$ 0.38

$ 0.51

$ 1.17

$ 1.36

Selling, general and administrative

$ 0.38

$ 0.51

$ 1.17

$ 1.36

Site rental

^[1]

$ 370

$ 369

$ 1,123

$ 1,095

154

150

493

457

Asset write-down charges

Acquisition and integration costs

Interest expense and amortization of deferred financing costs

406

388

1,207

1,175

168

173

521

510

Gain (Loss) on Extinguishment of Debt

(95)

^[4]

(2)

Interest income

Other income (expense)

(3)

(5)

(3)

(6)

Benefit (provision) for income taxes

(5)

(16)

(15)

^[3],[5]

^[5]

^[3],[5]

Previously Reported [Member]

$ 2

^[6]

$ 1

^[6]

1,260

3,718

254

700

1,514

4,418

^[2]

147

410

Income (Loss) Attributable to Parent, before Tax

1,061

3,161

Operating Income (Loss)

453

1,257

277

744

272

729

Net Income (Loss) Available to Common Stockholders, Basic

729

244

644

Comprehensive Income (Loss), Net of Tax, Attributable to Parent

$ 272

$ 729

$ 0.59

$ 1.55

$ 0.58

$ 1.54

Revision of Prior Period, Adjustment [Member]

$ 389

$ 1,176

(57)

(152)

(30)

(77)

^[2]

Income (Loss) Attributable to Parent, before Tax

Operating Income (Loss)

(30)

(77)

(30)

(77)

(30)

(77)

Net Income (Loss) Available to Common Stockholders, Basic

(30)

(77)

(30)

(77)

Comprehensive Income (Loss), Net of Tax, Attributable to Parent

$ (30)

$ (77)

$ (0.08)

$ (0.19)

Other Adjustment [Member]

$ (0.07)

$ (0.18)

$ (2)

$ (4)

(2)

(4)

^[2]

(1)

(3)

(2)

(4)

Revenue Recognition Non-cancelable Lease Term for Wireless Tenants

$ (1)

[1]	Exclusive of depreciation, amortization and accretion shown separately.
[2]	Exclusive of depreciation, amortization and accretion shown separately.
[3]	The individual components of this column do not sum to the total due to rounding.
[4]	Inclusive of the write off of respective deferred financing costs.
[5]	See note 8 for information regarding common and preferred stock dividends declared per share.
[6]	See the condensed consolidated statement of operations and other comprehensive income (loss) for the components of other comprehensive income (loss).

Restatement of Previously Issued Condensed Consolidated Financial Statements Restated condensed consolidated cash flows (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Net cash provided by (used for) investing activities			$ (1,336)	$ (1,549)
Net income (loss)			548	652
Increase (decrease) in other liabilities			58	179
Net Cash Provided by (Used in) Operating Activities			2,070	1,890
Net Cash Provided by (Used in) Continuing Operations				(88)
Cash, cash equivalents and restricted cash at beginning of period			338	413
Cash, cash equivalents and restricted cash at end of period	$ 421	$ 325	421	325
Depreciation, amortization and accretion	$ 406	388	1,207	1,175
Capital expenditures			$ (1,238)	(1,537)
Previously Reported [Member]
Net cash provided by (used for) investing activities				(1,550)
Net income (loss)				729
Increase (decrease) in other liabilities				102
Net Cash Provided by (Used in) Operating Activities				1,891
Net Cash Provided by (Used in) Continuing Operations				(88)
Cash, cash equivalents and restricted cash at beginning of period				413
Cash, cash equivalents and restricted cash at end of period		325		325
Depreciation, amortization and accretion		389		1,176
Capital expenditures				(1,538)
Revision of Prior Period, Adjustment [Member]
Net income (loss)		(30)		(77)
Increase (decrease) in other liabilities				77
Net Cash Provided by (Used in) Operating Activities				0
Net Cash Provided by (Used in) Continuing Operations				0
Cash, cash equivalents and restricted cash at beginning of period				0
Cash, cash equivalents and restricted cash at end of period		0		0
Other Adjustment [Member]
Net cash provided by (used for) investing activities				1
Net income (loss)		0		0
Increase (decrease) in other liabilities				0
Net Cash Provided by (Used in) Operating Activities				(1)
Net Cash Provided by (Used in) Continuing Operations				0
Cash, cash equivalents and restricted cash at beginning of period				0
Cash, cash equivalents and restricted cash at end of period		0		0
Depreciation, amortization and accretion		$ (1)		(1)
Capital expenditures				$ 1

Revenues (Details) - USD ($)
$ in Millions

9 Months Ended

Sep. 30, 2020

Sep. 30, 2019

Dec. 31, 2019

five to 15 years

Revenue Recognition for Fiber Solutions Tenants

three to 20 years

Deferred site rental receivables

$ 1,420

$ 1,424

Revenue, Performance Obligation, Description of Payment Terms

45 to 60 days

Revenue, Remaining Performance Obligation, Amount

$ 3,000

$ 2,900

Revenue Recognized on Deferred Revenues

440

$ 390

Contracted Amounts Receivable from Customers, remaining three months

^[1]

1,166

Contracted Amounts Receivable from Customers, in Two Years

^[1]

4,260

Contracted Amounts Receivable from Customers, in Three Years

^[1]

4,019

Contracted Amounts Receivable from Customers, in Four Years

^[1]

3,377

Contracted Amounts Receivable from Customers, in Five Years

^[1]

2,650

Contracted Amounts Receivable from Customers, Thereafter

^[1]

7,929

Contracted Amounts Receivable from Customers, Total

^[1]

23,401

Other Current Assets [Member]

Deferred site rental receivables

145

Other Noncurrent Assets [Member]

Deferred site rental receivables

$ 1,400

[1]	Based on the nature of the contract, tenant contracts are accounted for pursuant to relevant lease accounting (ASC 842) or revenue accounting (ASC 606) guidance. Excludes amounts related to services, as those contracts generally have a duration of one year or less.

Debt and Other Obligations (Indebtedness) (Details) - USD ($)
$ in Millions

9 Months Ended

Sep. 30, 2020

Dec. 31, 2019

Less: current maturities and short-term debt and other current obligations

$ 19,304

$ 18,121

114

100

Non-current portion of long-term debt and other long-term obligations

19,190

18,021

2015 Tower Revenue Notes 3.222% due 2042 [Member]

2015 Tower Revenue Notes 3.663% due 2045 [Member]

300

2018 Tower Revenue Notes 3.720% due 2043 [Member]

700

2018 Tower Revenue Notes 4.241% due 2048 [Member]

250

Fixed Rate Securitized Debt July 2018 Tower Revenue Notes [Member]

$ 750

Debt Instrument, Interest Rate, Increase (Decrease)

5.00%

2016 Revolver [Member] | Bank Debt [Member]

Finance Lease Obligations and Other [Member] | Securitized Debt [Member]

^[1],[2]

1.20%

High Yield Bonds [Member] | April 2020 Senior Notes [Domain] [Domain]

^[3]

$ 229

227

High Yield Bonds [Member] | 5.250% Senior Notes [Member]

$ 1,250

^[1]

5.30%

High Yield Bonds [Member] | 4.875% Senior Notes [Member]

$ 1,645

1,644

^[1]

4.875%

High Yield Bonds [Member] | Senior Unsecured 2016 Notes 3.40% [Member]

^[4]

$ 0

846

^[1]

3.40%

High Yield Bonds [Member] | Senior Unsecured 2016 Notes 4.450% [Member]

^[4]

$ 0

850

^[1]

4.50%

High Yield Bonds [Member] | Senior Unsecured 2016 Notes 3.7% [Member]

$ 894

893

^[1]

3.70%

High Yield Bonds [Member] | 2.250% Senior Notes [Member]

$ 745

744

^[1]

2.25%

High Yield Bonds [Member] | 4.000% Senior Unsecured Notes [Member]

^[4]

$ 0

698

^[1]

4.00%

High Yield Bonds [Member] | 4.750% Senior Unsecured Notes [Member] [Member]

$ 496

495

^[1]

4.80%

High Yield Bonds [Member] | August 2017 Senior Unsecured 3.200% Notes [Member]

$ 344

344

^[1]

3.20%

High Yield Bonds [Member] | June 2020 Senior Unsecured 1.350% Notes [Domain]

$ 745

744

$ 500

^[1]

1.35%

High Yield Bonds [Member] | August 2017 Senior Unsecured 3.650% Notes [Member]

^[4]

$ 494

^[1]

3.70%

High Yield Bonds [Member] | 3.150% Senior Notes [Member]

$ 994

993

^[1]

3.20%

High Yield Bonds [Member] | 3.800% Senior Notes [Member]

$ 745

744

^[1]

3.80%

High Yield Bonds [Member] | February 2019 Senior Unsecured 4.300% Notes [Member]

$ 991

990

^[1]

4.30%

High Yield Bonds [Member] | February 2019 Senior Unsecured 5.200% Notes [Member]

$ 592

592

^[1]

5.20%

High Yield Bonds [Member] | August 2019 Senior Unsecured 3.100% Notes [Member]

$ 395

395

^[1]

3.10%

High Yield Bonds [Member] | August 2019 Senior Unsecured 4.000% Notes [Member]

$ 544

543

^[1]

4.00%

High Yield Bonds [Member] | April 2020 Senior Unsecured 3.300% Notes [Member]

$ 345

345

$ 750

^[1]

3.30%

High Yield Bonds [Member] | June 2020 Senior Unsecured 2.250% Notes [Domain]

^[5]

$ 736

$ 1,100

^[1]

2.25%

High Yield Bonds [Member] | April 2020 Senior Unsecured 4.150% Notes [Member]

^[4]

$ 1,088

$ 500

^[1]

4.15%

High Yield Bonds [Member] | June 2020 Senior Unsecured 3.250% Notes [Domain]

^[5]

$ 489

$ 900

^[1]

3.25%

High Yield Bonds [Member] | June 2020 Senior Notes [Domain]

^[4]

$ 889

2,500

Unsecured Debt [Member]

Securitized Debt [Member]

16,032

14,850

Securitized Debt [Member] | 2015 Tower Revenue Notes 3.222% due 2042 [Member]

$ 3,272

3,271

^[1]

3.20%

Securitized Debt [Member] | 2015 Tower Revenue Notes 3.663% due 2045 [Member]

^[6]

$ 299

298

^[1]

3.70%

Securitized Debt [Member] | 2018 Tower Revenue Notes 3.720% due 2043 [Member]

^[6]

$ 695

694

^[1]

3.70%

Securitized Debt [Member] | 2018 Tower Revenue Notes 4.241% due 2048 [Member]

^[6]

$ 248

248

^[1]

4.20%

Securitized Debt [Member] | 3.849% Secured Notes [Member]

^[6]

$ 743

742

^[1]

3.90%

Securitized Debt [Member] | Fixed Rate Debt 2009 Securitized Notes A-2 [Member]

$ 996

995

^[1]

9.00%

Bank Debt [Member] | 2016 Term Loan A [Member]

$ 62

^[1],[2]

1.30%

Bank Debt [Member] | Commercial Paper [Member]

$ 2,266

2,310

Commercial Paper [Member]

^[1],[2]

0.50%

Commercial Paper, net issuances

$ 75

Maximum [Member]

Maximum [Member] | Finance Lease Obligations and Other [Member]

0.75%

Maximum [Member] | Finance Lease Obligations and Other [Member]

10.00%

Debt Instrument Maturity Date Range

30 years

Minimum [Member]

Minimum [Member] | Finance Lease Obligations and Other [Member]

0.00%

Debt Instrument Maturity Date Range

one year

London Interbank Offered Rate (LIBOR) [Member] | Maximum [Member]

London Interbank Offered Rate (LIBOR) [Member] | Minimum [Member]

1.75%

Revolving Credit Facility [Member]

0.875%

Debt Instrument, Unused Borrowing Capacity, Amount

$ 4,400

Revolving Credit Facility [Member] | Maximum [Member]

$ 520

^[7]

525

Line of Credit Facility, Commitment Fee Percentage

0.35%

Revolving Credit Facility [Member] | Minimum [Member]

Line of Credit Facility, Commitment Fee Percentage

0.125%

Commercial Paper [Member]

Commercial Paper - Maximum Available

^[8]

$ 75

$ 155

$ 1,000

Debt Instrument, Maturity Date, Description

397 days

[1]	See the 2019 Form 10-K, including note 9, for additional information regarding the maturity and principal amortization provisions and interest rates relating to the Company's indebtedness.
[2]	Both the 2016 Revolver and 2016 Term Loan A bear interest, at our option, at either (1) LIBOR plus a credit spread ranging from 0.875% to 1.750% per annum or (2) an alternate base rate plus a credit spread ranging from 0.000% to 0.750% per annum, in each case, with the applicable credit spread based on the Company's senior unsecured debt rating. The Company pays a commitment fee ranging from 0.125% to 0.350%, based on the Company's senior unsecured debt rating, per annum on the undrawn available amount under the 2016 Revolver.
[3]	The Company's finance leases and other obligations relate to land, fiber, vehicles, and other assets and bear interest rates ranging up to 10% and mature in periods ranging from less than one year to approximately 30 years.
[4]	In June 2020, the Company issued $2.5 billion aggregate principal amount of senior unsecured notes ("June 2020 Senior Notes"), which consisted of (1) $500 million aggregate principal amount of 1.350% senior unsecured notes due July 2025, (2) $1.1 billion aggregate principal amount of 2.250% senior unsecured notes due January 2031 and (3) $900 million aggregate principal amount of 3.250% senior unsecured notes due January 2051. In July 2020, the Company used the net proceeds of the June 2020 Senior Notes offering, together with available cash, to redeem all of the previously outstanding 3.400% Senior Notes, 2.250% Senior Notes and 4.875% Senior Notes.
[5]	In April 2020, the Company issued $1.25 billion aggregate principal amount of senior unsecured notes ("April 2020 Senior Notes"), which consisted of (1) $750 million aggregate principal amount of 3.300% senior unsecured notes due July 2030 and (2) $500 million aggregate principal amount of 4.150% senior unsecured notes due July 2050. The company used the net proceeds of the April 2020 Senior Notes offering to repay outstanding indebtedness under the 2016 Revolver.
[6]	If the respective series of Tower Revenue Notes are not paid in full on or prior to an applicable anticipated repayment date, then Excess Cash Flow (as defined in the indenture) of the issuers of such notes will be used to repay principal of the applicable series and class of the Tower Revenue Notes, and additional interest (of an additional approximately 5% per annum) will accrue on the respective Tower Revenue Notes. As of September 30, 2020, the Tower Revenue Notes have principal amounts of $300 million, $250 million, $700 million and $750 million, with anticipated repayment dates in 2022, 2023, 2025 and 2028, respectively.
[7]	As of September 30, 2020, the undrawn availability under the 2016 Revolver was $4.4 billion.
[8]	Notes under the CP Program may be issued, repaid and re-issued from time to time, with an aggregate principal amount of Commercial Paper Notes outstanding under the CP Program at any time not to exceed $1.0 billion. The net proceeds of the Commercial Paper Notes are expected to be used for general corporate purposes. The maturities of the 2019 Commercial Paper Notes, when outstanding, may vary but may not exceed 397 days from the date of issue. The Commercial Paper Notes are issued under customary terms in the commercial paper market and are issued at a discount from par or, alternatively, can be issued at par and bear varying interest rates on a fixed or floating basis. As of September 30, 2020, the Company had net issuances of $75 million under the CP Program. At any point in time, the Company intends to maintain available commitments under its 2016 Revolver in an amount at least equal to the amount of Commercial Paper Notes outstanding. While any outstanding Commercial Paper Notes generally have short-term maturities, the Company classifies the outstanding issuances, when applicable, as long-term based on its ability and intent to refinance the outstanding issuances on a long-term basis.

Debt and Other Obligations (Components of Interest Expense and Amortization of Deferred Financing Costs) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Debt and Other Obligations [Abstract]
Interest Expense, Debt, Excluding Amortization	$ 167	$ 173	$ 517	$ 509
Amortization of deferred financing costs and adjustments on long-term debt	6	5	17	15
Capitalized interest	(5)	(5)	(13)	(14)
Interest expense and amortization of deferred financing costs	$ 168	$ 173	$ 521	$ 510

Debt and Other Obligations Contractual Maturities (Details) - USD ($)
$ in Millions

Sep. 30, 2020

Dec. 31, 2019

Contractual Obligation, Fiscal Year Maturity Schedule [Abstract]

Long-Term Debt, Maturity, remaining three months

^[1]

$ 102

Long-Term Debt, Maturity, Year Two

128

Long-Term Debt, Maturity, Year Three

152

Long-Term Debt, Maturity, Year Four

3,606

Long-Term Debt, Maturity, Year Five

3,169

Long-Term Debt, Maturity, after Year Five

12,296

Total Cash Obligations

19,453

Unamortized Adjustments, Net

(149)

$ 19,304

$ 18,121

[1]	Predominately consists of outstanding indebtedness under the Company's CP Program. Such amounts may be issued, repaid or re-issued from time to time.

Debt and Other Obligations Extinguishment of Debt (Details) - USD ($)
$ in Millions

3 Months Ended

9 Months Ended

Sep. 30, 2020

Sep. 30, 2019

Sep. 30, 2020

Sep. 30, 2019

$ 2,400

Gains (losses) on retirement of long-term obligations

^[1]

2,490

$ 95

$ 0

^[2]

$ 2

3.400% Senior Notes [Member]

850

Gains (losses) on retirement of long-term obligations

^[1]

863

^[2]

2.250% Senior Notes [Member]

700

Gains (losses) on retirement of long-term obligations

^[1]

714

^[2]

4.875% Senior Notes [Member]

850

Gains (losses) on retirement of long-term obligations

^[1]

913

^[2]

$ 66

[1]	Exclusive of accrued interest.
[2]	Inclusive of the write off of respective deferred financing costs.

Fair Value Disclosures (Estimated Fair Values and Carrying Amounts of Assets and Liabilities) (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Fair Value Disclosures [Abstract]
Cash and cash equivalents, at carrying value	$ 242	$ 196
Cash and cash equivalents, fair value	242	196
Restricted Cash	179	142
Restricted Cash Fair Value Disclosure		142
Long-term debt and other obligations, carrying amount	19,304	18,121
Long-term debt and other obligations, fair value	$ 21,082	$ 19,170

Per Share Information (Reconciliation of the Numerators and Denominators of the Basic and Diluted Per Share Computations) (Details) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions

3 Months Ended

9 Months Ended

Sep. 30, 2020

Sep. 30, 2019

Sep. 30, 2020

Sep. 30, 2019

Earnings Per Share [Abstract]

$ 163

$ 242

^[1]

$ 548

$ 652

^[1]

Net income (loss) attributable to CCIC common stockholders for basic and diluted computations

(28)

^[1],[2]

(57)

^[2]

(85)

^[1],[2]

$ 163

$ 214

$ 491

$ 567

Basic weighted-average number of common stock outstanding

427

416

420

416

Effect of assumed dilution from potential issuance of common shares relating to restricted stock units

Diluted weighted-average number of common shares outstanding

429

418

422

418

$ 0.38

$ 0.51

$ 1.17

$ 1.36

Dividends/distributions declared per share of common stock (in dollars per share)

0.38

0.51

1.17

1.36

1.20

1.125

3.60

3.375

Dividends/distributions declared per share of preferred stock

$ 0

$ 17.1875

$ 34.3750

$ 51.5625

[1]	The individual components of this column do not sum to the total due to rounding.
[2]	See note 8 for information regarding common and preferred stock dividends declared per share.

Per Share Information Stock Issued During Period, Restricted Stock Award (Details) shares in Millions	9 Months Ended
	Sep. 30, 2020 shares
Restricted stock units granted [Abstract]
Restricted stock award granted	1

Commitments and Contingencies Commitment and Contingencies (Details)	Sep. 30, 2020
Subject to Capital Lease with TMO or AT&T [Member]
Other Commitments [Line Items]
Purchase Option, Percentage of Towers	53.00%

Equity (Details) - USD ($)
$ / shares in Units, $ in Millions

3 Months Ended

9 Months Ended

Sep. 30, 2020

Jun. 30, 2020

Mar. 31, 2020

Dec. 31, 2019

Sep. 30, 2019

Sep. 30, 2020

Sep. 30, 2019

Conversion factor, 6.785% Mandatory Convertible Preferred Stock

8.8043

Preferred Stock, Dividends, Per Share, Cash Paid

$ 17.1875

Common Stock, Dividends, Per Share, Cash Paid

^[1]

$ 1.20

Dividends, Common Stock, Cash

^[1]

$ 521

$ 504

Dividends, Preferred Stock, Cash

$ 28

Common stock repurchased during period, shares

500,000

Purchases of Common Stock

$ (75)

$ (44)

Availability Under ATM

$ 750

6.875% Mandatory Convertible Preferred Stock [Member]

Conversion of preferred stock to common stock

2,000,000

Common Stock [Member]

Conversion of Stock, Shares Issued

14,000,000

Dividends Payable, Date Declared

^[1]

Aug. 06, 2020

Feb. 20, 2020

May 14, 2020

Dividends Payable, Date of Record

^[1]

Sep. 15, 2020

Mar. 13, 2020

Jun. 12, 2020

Dividends Payable, Date to be Paid

^[1]

Sep. 30, 2020

Mar. 31, 2020

Jun. 30, 2020

Preferred Stock [Member]

Dividends Payable, Date Declared

Mar. 12, 2020

Dec. 09, 2019

Jun. 19, 2020

Dividends Payable, Date of Record

Apr. 15, 2020

Jan. 15, 2020

Jul. 15, 2020

Dividends Payable, Date to be Paid

May 01, 2020

Feb. 03, 2020

Aug. 03, 2020

[1]	Inclusive of dividends accrued for holders of unvested restricted stock units, which will be paid when and if the restricted stock units vest.

Operating Segments Operating Segments Table (Details)
$ in Millions

3 Months Ended

9 Months Ended

Sep. 30, 2020

USD ($)

Sep. 30, 2019

USD ($)

Sep. 30, 2020

USD ($)

Sep. 30, 2019

USD ($)

Dec. 31, 2019

USD ($)

Jun. 30, 2019

USD ($)

Amortization of prepaid lease purchase price adjustments

Tower Count

40,000

Fiber Miles

80,000

$ 5

$ 14

$ 15

1,339

$ 1,287

3,968

3,793

147

195

379

544

1,486

1,482

4,347

4,337

^[1]

370

369

1,123

1,095

Segment selling, general and administrative expenses

^[1]

117

146

^[2]

324

407

^[2]

154

150

493

457

Depreciation, Amortization and Accretion, Net

108

406

388

1,207

1,175

Interest expense and amortization of deferred financing costs

168

173

521

510

Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Extraordinary Items, Noncontrolling Interest

168

247

564

667

1,238

1,537

Segment cost of operations share-based compensation [Member]

38,786

38,321

38,786

38,321

$ 38,457

Towers [Member]

877

856

2,612

2,526

142

191

367

533

1,019

1,047

2,979

3,059

216

218

648

647

Segment cost of operations

111

142

311

395

^[4]

327

^[3]

360

^[3]

959

^[5]

1,042

^[5]

Segment site rental gross margin

661

638

1,964

1,879

Segment services gross margin

138

Segment selling, general and administrative expenses

^[3]

^[5]

670

664

1,949

1,944

145

272

402

22,248

$ 22,078

Fiber [Member]

462

431

1,356

1,267

467

435

1,368

1,278

145

141

447

418

Segment cost of operations

^[4]

149

^[3]

143

^[3]

455

^[5]

424

^[5]

Segment site rental gross margin

317

290

909

849

Segment services gross margin

Segment selling, general and administrative expenses

^[3]

137

^[5]

147

^[5]

276

243

776

707

287

382

926

1,108

Consolidated Total [Member]

15,692

15,565

1,339

1,287

3,968

3,793

147

195

379

544

1,486

1,482

4,347

4,337

361

359

1,095

1,065

Segment cost of operations

115

144

319

401

^[4]

476

^[3]

503

^[3]

1,414

^[5]

1,466

^[5]

Segment site rental gross margin

978

928

2,873

2,728

Segment services gross margin

143

Segment selling, general and administrative expenses

^[3]

208

^[5]

220

^[5]

946

907

2,725

2,651

Depreciation, Amortization and Accretion, Net

106

406

388

1,207

1,175

Interest expense and amortization of deferred financing costs

168

173

521

510

Other expenses to reconcile to income (loss) from continuing operations before income taxes

^[6]

108

129

Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Extraordinary Items, Noncontrolling Interest

168

247

564

667

377

539

1,238

1,537

Corporate and Other [Member]

38,786

38,321

Segment selling, general and administrative expenses

198

168

Depreciation, Amortization and Accretion, Net

106

406

388

1,207

1,175

Interest expense and amortization of deferred financing costs

168

173

521

510

Other expenses to reconcile to income (loss) from continuing operations before income taxes

^[6]

108

129

Segment G&A share-based compensation [Member]

846

$ 678