0001574291-20-000026 | 10-Q | XBRL Viewer

^[2]

194,620

203,470

Total liabilities

2,535,998

2,504,503

Member's equity:

Accumulated earnings (deficit)

1,972,959

2,096,954

Total liabilities and equity

1,972,959

2,096,954

$ 4,508,957

$ 4,601,457

[1]	Reflects the correction of certain immaterial prior period misclassifications of the reported balances in "Prepaid expenses" and "Deferred site rental receivables and other current assets" on the condensed consolidated balance sheet as of December 31, 2019
[2]	Reflects the recording of deferred revenues in connection with the tower installation and modification transactions described in note 5 that result in permanent improvements to the Company's towers. The Company receives no cash from, and is not party to, such transactions.

Condensed Consolidated Statement of Operations Statement - USD ($)
$ in Thousands

3 Months Ended

9 Months Ended

Sep. 30, 2020

Sep. 30, 2019

Sep. 30, 2020

Sep. 30, 2019

Amortization of tower installations and modifications

$ 173,348

$ 171,745

$ 517,041

$ 507,256

^[1]

14,818

13,436

^[2]

43,639

38,371

^[2]

Site rental cost of operations—third parties(b)

188,166

185,181

560,680

545,627

Operating expenses:

^[3]

38,640

38,406

115,156

114,212

Ground rent expenses—related parties

11,446

10,880

34,235

32,210

Site rental cost of operations—total(b)

^[3]

50,086

49,286

149,391

146,422

Management fee—related party

13,084

12,611

38,596

37,238

Asset write-down charges

424

375

53,048

51,881

158,138

155,087

116,218

113,778

346,549

339,122

Interest expense and amortization of deferred financing costs

71,948

71,403

214,131

206,505

(9,969)

(29,906)

Other income (expense)

(12)

160

445

Benefit (provision) for income taxes

61,967

61,594

184,299

177,044

(80)

(102)

(292)

(307)

Cash flows from operating activities:(a)

$ 61,887

$ 61,492

$ 184,007

$ 176,737

[1]	Represents the amortization of deferred revenues recorded in connection with the tower installation and modification transactions described in note 5 that result in permanent improvements to the Company's towers. The Company receives no cash from, and is not party to, such transactions.
[2]	Represents the amortization of deferred revenues recorded in connection with the tower installation and modification transactions described in note 5 that result in permanent improvements to the Company's towers. The Company receives no cash from, and is not party to, such transactions.
[3]	Exclusive of depreciation, amortization and accretion shown separately and certain indirect costs included in the management fee.

Condensed Consolidated Balance Sheet Parenthetical (Parentheticals) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Accumulated Depreciation [Abstract]
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment	$ 1,174,449	$ 1,095,355

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

9 Months Ended

Sep. 30, 2020

Sep. 30, 2019

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

$ 184,007

$ 176,737

Amortization Of Deferred Financing Costs

158,138

155,087

1,038

Asset write-down charges

424

375

Changes in assets and liabilities:

Increase (decrease) in accrued interest

9,622

Increase (decrease) in accounts payable

1,802

(3,844)

Decrease (increase) in receivables

6,800

15,477

(441)

1,978

Decrease (increase) in other assets

(5,051)

(14,256)

Net cash provided by (used for) operating activities

^[1]

356,339

342,214

^[2]

Cash flows from investing activities:

Capital expenditures(b)

^[3]

(37,179)

(64,204)

^[4]

Net cash provided by (used for) investing activities

(37,179)

(64,204)

Cash flows from financing activities:

Net cash provided by (used for) financing activities

^[5]

(308,002)

(278,231)

(308,002)

(278,231)

Net increase (decrease) in cash and cash equivalents

11,158

(221)

20,407

18,707

Balance, beginning at Dec. 31, 2018

$ 31,565

$ 18,486

[1]	The Company receives no cash from, and is not party to, the tower installation and modification transactions described in note 5. Such transactions, however, are reflected on the cash flow statement for GAAP purposes as if an amount equal to the lease component for such transactions had been received by the Company, and, as such, the amounts have been recorded as deferred revenues.
[2]	The Company receives no cash from, and is not party to, the tower installation and modification transactions described in note 5. Such transactions, however, are reflected on the cash flow statement for GAAP purposes as if an amount equal to the lease component for such transactions had been received by the Company, and, as such, the amounts have been recorded as deferred revenues.
[3]	Includes permanent improvements recorded in connection with the tower installation and modification transactions described in note 5. The Company receives no cash from, and is not party to, such transactions.
[4]	Includes permanent improvements recorded in connection with the tower installation and modification transactions described in note 5. The Company receives no cash from, and is not party to, such transactions.
[5]	See note 5. The Company receives no cash from, and is not party to, the tower installation and modification transactions described in note 5.

Condensed Consolidated Statement of Equity - USD ($)
$ in Thousands

Total

Members' Equity [Member]

Accumulated Earnings (Deficit) [Member]

$ 2,219,198

$ 0

^[1]

(278,231)

(101,494)

(176,737)

Balance, ending at Sep. 30, 2019

176,737

2,117,704

Balance, beginning at Jun. 30, 2019

2,156,857

^[1]

(100,645)

(39,153)

(61,492)

Balance, ending at Sep. 30, 2019

61,492

2,117,704

Balance, beginning at Dec. 31, 2019

2,096,954

^[1]

(308,002)

(123,995)

(184,007)

Balance, ending at Sep. 30, 2020

184,007

1,972,959

Balance, beginning at Jun. 30, 2020

2,022,376

^[1]

(111,304)

(49,417)

(61,887)

Balance, ending at Sep. 30, 2020

61,887

$ 1,972,959

$ 0

[1]	See note 5. The Company receives no cash from, and is not party to, the tower installation and modification transactions described in note 5.

- Definition

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

+ References

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+ Details

General	9 Months Ended
General	Sep. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
General	General The accompanying consolidated financial statements reflect the consolidated financial position, results of operations and cash flows of CC Holdings GS V LLC ("CCL") and its consolidated wholly-owned subsidiaries (collectively, "Company"). The Company is a wholly-owned subsidiary of Global Signal Operating Partnership, L.P. ("GSOP"), which is an indirect subsidiary of Crown Castle International Corp., a Delaware corporation ("CCIC"). CCL is a Delaware limited liability company that is a holding company and an issuer of the Company's debt. Intercompany accounts, transactions and profits have been eliminated. As used herein, the term "including," and any variation thereof means "including without limitation." The use of the word "or" herein is not exclusive. 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 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 the Company with the SEC. The Company is organized specifically to own, operate, and lease towers and other structures (collectively, "towers"), and to a lesser extent, interests in land under third party and related party towers in various forms ("land interests") (collectively, "sites") that are geographically dispersed across the U.S. The Company's core business is providing access, including space or capacity, to its sites via long-term contracts in various forms, including lease, license and sublease agreements (collectively, "tenant contracts"). The Company's customers on its sites are referred to herein as "tenants." Management services related to the Company's sites are performed by Crown Castle USA Inc. ("CCUSA"), an affiliate of the Company, under the Management Agreement, as the Company has no employees. Approximately 68% of the Company's sites are leased or subleased or operated and managed for an initial period of 32 years (through May 2037) under master leases or other agreements assumed by T-Mobile following its merger with Sprint completed April 1, 2020 ("T-Mobile Sites"). CCIC, through its subsidiaries (including the Company), has the option to purchase in 2037 all (but not less than all) of the T-Mobile Sites from T-Mobile for approximately $2.3 billion. CCIC has no obligation to exercise the purchase option. For U.S federal income tax purposes, CCIC operates as a real estate investment trust ("REIT"), and as its indirect subsidiary, the Company's assets and operations are included in the CCIC REIT. See note 6. 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 generally accepted accounting principles in the U.S. ("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 and the disclosure of contingent assets and liabilities at the date of the financial statements as well as the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Restatement of Financial Statements Restatement of Financials (Notes)

3 Months Ended

Sep. 30, 2020

Accounting Changes and Error Corrections [Abstract]

Restatement of Financials [Text Block]

Restatement of Previously Issued Condensed Consolidated Financial Statements

The tables below summarize the impact of the Restatement Adjustments that were related to the timing of revenue recognition on CCIC's tower installation services. Specifically, CCIC determined that its historical practice of recognizing the full transaction price as services revenues upon completion of an installation was not acceptable under GAAP. Instead, a portion of the transaction price for CCIC's tower installation services, specifically the amounts associated with permanent improvements recorded as fixed assets, represent a lease component and should be recognized by CCIC as site rental revenues on a ratable basis over the associated estimated lease term.

CCIC, through its wholly owned subsidiary, offers certain installation and other construction-related services to tenants on the towers owned by CCIC's subsidiaries (including to tenants on the Company's towers). That business is separate from the

operations of the Company, and the Company (1) is not party to such transactions and (2) does not receive any cash from such transactions. However, when CCIC is engaged by, and performs an installation or other activity for, a tenant that is locating or located on the Company's towers, and such transaction results in (1) enhancing a tower in connection with a new tenant installing equipment on the tower for the first time or as part of subsequent equipment augmentations or (2) modifying the structure of a tower to accommodate the additional tenant, the Company records any permanent improvement that is made on its tower site as a fixed asset. Historically, in connection with recording such permanent improvements as fixed assets on its financial statements, the Company would also record a corresponding amount as a capital contribution from CCIC.

The Company determined that, despite the Company not receiving any cash, an amount equal to the lease component as a result of such installation and other construction-related services should be recorded on the consolidated financial statements as deferred revenue, and then amortized as revenues on a ratable basis over the length of the tenants’ associated estimated lease term.

In addition to the determination discussed above, the Company has also determined that errors existed related to its accounting for obligations to perform asset retirement activities pursuant to its ground lease and easement agreements. Specifically, the Company should not have recorded asset retirement obligations for its T-Mobile Sites, as the associated estimated retirement would occur beyond the period for which the Company has a contract term to these sites. The correction of the errors related to the Company's accounting for obligations to perform asset retirement activities resulted in (1) a decrease to both "Property and equipment, net" and "Member's equity" of $4.1 million on the Company's condensed consolidated balance sheet as of September 30, 2019, and (2) a decrease to "Depreciation, amortization, and accretion" on the Company's condensed consolidated statement of operations of $0.7 million and $2.2 million for the three and nine months ended September 30, 2019, respectively.

The Restatement Adjustments in the tables below reflect the impact of (1) allocating an amount equal to the lease component as a result of such installation and other construction-related services on the condensed consolidated financial statements as deferred revenue, and then amortizing those amounts as amortization of tower installations and modifications on a ratable basis over the length of the tenants’ associated estimated lease term and (2) correcting errors related to the Company's accounting for obligations to perform asset retirement activities.

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.

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	$	1,015,632	$	(4,140	)	$	(2,790	)	$	1,008,702
Total assets	4,615,994		(4,140		)	(2,790		)	4,609,064
LIABILITIES AND EQUITY
Current liabilities:
Deferred revenues^(a)	13,390		53,543			—			66,933
Total current liabilities	95,359		53,543			—			148,902
Other long-term liabilities^(a)	35,618		165,030			—			200,648
Total liabilities	2,272,787		218,573			—			2,491,360
Member's equity:
Member's equity	2,343,207		(222,713		)	(2,790		)	2,117,704
Total member's equity	2,343,207		(222,713		)	(2,790		)	2,117,704
Total liabilities and equity	$	4,615,994	$	(4,140	)	$	(2,790	)	$	4,609,064


(a)	Reflects the recording of deferred revenues in connection with the tower installation and modification transactions described in note 5 that result in permanent improvements to the Company's towers. The Company receives no cash from, and is not party to, such transactions.

Condensed Consolidated Statement of Operations



	Three Months Ended September 30, 2019
	As Reported		Restatement Adjustments			Other Adjustments			As Restated
Site rental revenues:
Revenues from tenant contracts	$	171,745	$	—		$	—		$	171,745
Amortization of tower installations and modifications^(a)	—		13,436			—			13,436
Total site rental revenues	171,745		13,436			—			185,181
Operating expenses:
Depreciation, amortization and accretion	52,665		(736		)	(48		)	51,881
Total operating expenses	114,562		(736		)	(48		)	113,778
Operating income (loss)	57,183		14,172			48			71,403
Income (loss) before income taxes	47,374		14,172			48			61,594
Net income (loss)	$	47,272	$	14,172		$	48		$	61,492



	Nine Months Ended September 30, 2019
	As Reported		Restatement Adjustments			Other Adjustments			As Restated
Site rental revenues:
Revenues from tenant contracts	$	507,256	$	—		$	—		$	507,256
Amortization of tower installations and modifications^(a)	—		38,371			—			38,371
Total site rental revenues	507,256		38,371			—			545,627
Operating expenses:
Depreciation, amortization and accretion	157,436		(2,208		)	(141		)	155,087
Total operating expenses	341,471		(2,208		)	(141		)	339,122
Operating income (loss)	165,785		40,579			141			206,505
Income (loss) before income taxes	136,324		40,579			141			177,044
Net income (loss)	$	136,017	$	40,579		$	141		$	176,737


(a)	Represents the amortization of deferred revenues recorded in connection with the tower installation and modification transactions described in note 5 that result in permanent improvements to the Company's towers. The Company receives no cash from, and is not party to, such transactions.

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:^(a)
Net income (loss)	$	136,017		$	40,579		$	141		$	176,737
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation, amortization and accretion	157,436			(2,208		)	(141		)	155,087
Changes in assets and liabilities:
Increase (decrease) in other liabilities	1,617			13,860			—			15,477
Net cash provided by (used for) operating activities	289,983			52,231			—			342,214
Cash flows from investing activities:
Capital expenditures^(b)	(64,403		)	—			199			(64,204		)
Net cash provided by (used for) investing activities	(64,403		)	—			199			(64,204		)
Cash flows from financing activities:
Distributions to member	(225,801		)	(52,231		)	(199		)	(278,231		)
Net cash provided by (used for) financing activities	(225,801		)	(52,231		)	(199		)	(278,231		)
Net increase (decrease) in cash and cash equivalents	(221		)	—			—			(221		)
Cash and cash equivalents at beginning of year	18,707			—			—			18,707
Cash and cash equivalents at end of year	$	18,486		$	—		$	—		$	18,486


(a)	The Company receives no cash from, and is not party to, the tower installation and modification transactions described in note 5. Such transactions, however, are reflected on the cash flow statement for GAAP purposes as if an amount equal to the lease component for such transactions had been received by the Company, and, as such, the amounts have been recorded as deferred revenues.

(b)

Includes permanent improvements recorded in connection with the tower installation and modification transactions described in note 5. The Company receives no cash from, and is not party to, such transactions.

Summary of Significant Accounting Policies	9 Months Ended
Summary of Significant Accounting Policies	Sep. 30, 2020
Accounting Policies [Abstract]
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.

Debt and Other Obligations

9 Months Ended

Sep. 30, 2020

Debt and Other Obligations [Abstract]

Debt and Other Obligations

Debt

The outstanding balance of the 3.849% Secured Notes due April 2023 as of September 30, 2020 and December 31, 2019 was $996 million and $995 million, respectively.

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	$	9,623	$	9,623	$	28,868	$	28,868
Amortization of deferred financing costs	346		346		1,038		1,038
Total	$	9,969	$	9,969	$	29,906	$	29,906

Related Party Transactions	9 Months Ended
Related Party Transactions	Sep. 30, 2020
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions Pursuant to the Management Agreement, CCUSA has agreed to employ, supervise and pay at all times a sufficient number of capable employees as may be necessary to perform services in accordance with the operation standards defined in the Management Agreement. CCUSA currently acts as the Manager of the sites held by subsidiaries of CCIC. The management fee is equal to 7.5% of the Company's "Operating Revenues," as defined in the Management Agreement, which is based on the Company's reported revenues adjusted to exclude certain items including revenues related to the accounting for leases with fixed escalators. The fee is compensation for those functions reasonably necessary to maintain, market, operate, manage and administer the sites, other than the operating expenses (which includes real estate and personal property taxes, ground lease and easement payments, and insurance premiums). Further, in connection with its role as Manager, CCUSA may offer certain installation and modification services to tenants on the Company's towers; however, the Company receives no cash from, and is not party to, such transactions. The Company includes the deferred revenue for a portion of the transaction price for the tower installation and modification services, which represents a lease component under GAAP, within "Deferred revenues," on the Company's condensed consolidated balance sheet and recognizes it as "Amortization of tower installations and modifications" on the Company's condensed consolidated statement of operations over the associated estimated lease term. The portions of the transaction price which do not represent a lease component are not reflected in the Company's operating results. As part of CCIC's strategy to obtain long-term control of the land interests under its towers, affiliates of the Company have acquired rights to land under the Company's towers. These affiliates then lease the land to the Company, and the Company pays ground rent expenses to the affiliates. Under such circumstances, the Company's obligation typically continues with the same or similar economic terms as the contract for the land that existed prior to the purchase of such land by the affiliate. As of September 30, 2020, more than 30% of the Company's towers were located on land which was controlled by an affiliate. Also, the Company receives site rental revenues from affiliates for land owned by the Company on which affiliates have towers. For the nine months ended September 30, 2020 and 2019, the Company recorded equity distributions of $308.0 million and $278.2 million, respectively, reflecting distributions to its member. Cash on-hand above the amount that is required by the Management Agreement has been, and is expected to continue to be, distributed to the Company's parent company. As of September 30, 2020 and 2019, other than the amounts of its ROU assets and operating lease liabilities related to land leased from affiliates of the Company reflected in "Operating lease right-of-use assets," "Current portion of operating lease liabilities—related parties" and "Operating lease liabilities—related parties," the Company had no material related party assets or liabilities on its condensed consolidated balance sheet.

Income Taxes	9 Months Ended
Income Taxes	Sep. 30, 2020
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes CCIC operates as a REIT for U.S. federal income tax purposes. As a REIT, CCIC 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. For U.S. federal income tax purposes, the Company's assets and operations are included in the CCIC REIT. 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 (1) CCIC's REIT status, including the dividends paid deduction, and (2) state taxes.

- Definition

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

Fair Values

9 Months Ended

Sep. 30, 2020

Fair Value Disclosures [Abstract]

Fair Value Disclosures

Fair Values

The fair value of cash and cash equivalents approximates 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. There were no changes since December 31, 2019, in the Company's valuation techniques used to measure fair values. The estimated fair values of the Company's financial instruments, along with the carrying amounts of the related assets and liabilities, are as follows:



	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	$	31,565	$	31,565	$	20,407	$	20,407
Liabilities:
Debt	2	996,469		1,075,500		995,431		1,046,200

- Definition

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

Commitments and Contingencies	9 Months Ended
Commitments and Contingencies	Sep. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies The Company is involved in various claims, assessments, lawsuits or proceedings arising in the ordinary course of business. While there are uncertainties inherent in the ultimate outcome of such 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. In addition, see note 1 for a discussion of CCIC's option to purchase approximately 68% of the Company's towers at the end of their respective lease terms. CCIC has no obligation to exercise the purchase option.

Supplemental Cash Flow Information (Notes)

9 Months Ended

Sep. 30, 2020

Supplemental Cash Flow Information [Abstract]

Cash Flow, Supplemental Disclosures [Text Block]

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)(b)	$	80,853		$	79,643
Interest paid	19,246			19,246
Supplemental disclosure of non-cash operating, investing and financing activities:
New ROU assets obtained in exchange for operating lease liabilities^(b)	46,234			71,578
Increase (decrease) in accounts payable for purchases of property and equipment	(2,758		)	4,075


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

(b)

Inclusive of leases with related parties. See note 5.

Summary of Significant Accounting Policies (Policies)	9 Months Ended
Summary of Significant Accounting Policies (Policies)	Sep. 30, 2020
Accounting Policies [Abstract]
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.

Restatement of Financial Statements (Tables)

9 Months Ended

Sep. 30, 2020

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	$	1,015,632	$	(4,140	)	$	(2,790	)	$	1,008,702
Total assets	4,615,994		(4,140		)	(2,790		)	4,609,064
LIABILITIES AND EQUITY
Current liabilities:
Deferred revenues^(a)	13,390		53,543			—			66,933
Total current liabilities	95,359		53,543			—			148,902
Other long-term liabilities^(a)	35,618		165,030			—			200,648
Total liabilities	2,272,787		218,573			—			2,491,360
Member's equity:
Member's equity	2,343,207		(222,713		)	(2,790		)	2,117,704
Total member's equity	2,343,207		(222,713		)	(2,790		)	2,117,704
Total liabilities and equity	$	4,615,994	$	(4,140	)	$	(2,790	)	$	4,609,064

(a)

Reflects the recording of deferred revenues in connection with the tower installation and modification transactions described in note 5 that result in permanent improvements to the Company's towers. The Company receives no cash from, and is not party to, such transactions.

Condensed Income Statement [Table Text Block]

Condensed Consolidated Statement of Operations



	Three Months Ended September 30, 2019
	As Reported		Restatement Adjustments			Other Adjustments			As Restated
Site rental revenues:
Revenues from tenant contracts	$	171,745	$	—		$	—		$	171,745
Amortization of tower installations and modifications^(a)	—		13,436			—			13,436
Total site rental revenues	171,745		13,436			—			185,181
Operating expenses:
Depreciation, amortization and accretion	52,665		(736		)	(48		)	51,881
Total operating expenses	114,562		(736		)	(48		)	113,778
Operating income (loss)	57,183		14,172			48			71,403
Income (loss) before income taxes	47,374		14,172			48			61,594
Net income (loss)	$	47,272	$	14,172		$	48		$	61,492



	Nine Months Ended September 30, 2019
	As Reported		Restatement Adjustments			Other Adjustments			As Restated
Site rental revenues:
Revenues from tenant contracts	$	507,256	$	—		$	—		$	507,256
Amortization of tower installations and modifications^(a)	—		38,371			—			38,371
Total site rental revenues	507,256		38,371			—			545,627
Operating expenses:
Depreciation, amortization and accretion	157,436		(2,208		)	(141		)	155,087
Total operating expenses	341,471		(2,208		)	(141		)	339,122
Operating income (loss)	165,785		40,579			141			206,505
Income (loss) before income taxes	136,324		40,579			141			177,044
Net income (loss)	$	136,017	$	40,579		$	141		$	176,737

(a)

Represents the amortization of deferred revenues recorded in connection with the tower installation and modification transactions described in note 5 that result in permanent improvements to the Company's towers. The Company receives no cash from, and is not party to, such transactions.

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:^(a)
Net income (loss)	$	136,017		$	40,579		$	141		$	176,737
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation, amortization and accretion	157,436			(2,208		)	(141		)	155,087
Changes in assets and liabilities:
Increase (decrease) in other liabilities	1,617			13,860			—			15,477
Net cash provided by (used for) operating activities	289,983			52,231			—			342,214
Cash flows from investing activities:
Capital expenditures^(b)	(64,403		)	—			199			(64,204		)
Net cash provided by (used for) investing activities	(64,403		)	—			199			(64,204		)
Cash flows from financing activities:
Distributions to member	(225,801		)	(52,231		)	(199		)	(278,231		)
Net cash provided by (used for) financing activities	(225,801		)	(52,231		)	(199		)	(278,231		)
Net increase (decrease) in cash and cash equivalents	(221		)	—			—			(221		)
Cash and cash equivalents at beginning of year	18,707			—			—			18,707
Cash and cash equivalents at end of year	$	18,486		$	—		$	—		$	18,486


(a)	The Company receives no cash from, and is not party to, the tower installation and modification transactions described in note 5. Such transactions, however, are reflected on the cash flow statement for GAAP purposes as if an amount equal to the lease component for such transactions had been received by the Company, and, as such, the amounts have been recorded as deferred revenues.

(b)

Debt and Other Obligations Interest Expense and Amortization of Deferred Financing Costs (Tables)

9 Months Ended

Sep. 30, 2020

Debt Disclosure [Abstract]

Schedule Of Interest Expense And Amortization Of Deferred Financing Costs [Text Block]

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	$	9,623	$	9,623	$	28,868	$	28,868
Amortization of deferred financing costs	346		346		1,038		1,038
Total	$	9,969	$	9,969	$	29,906	$	29,906

Fair Value Disclosures (Tables)

9 Months Ended

Sep. 30, 2020

Fair Value Disclosures [Abstract]

Estimated Fair Values and Carrying Amounts of Assets and Liabilities

The estimated fair values of the Company's financial instruments, along with the carrying amounts of the related assets and liabilities, are as follows:



	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	$	31,565	$	31,565	$	20,407	$	20,407
Liabilities:
Debt	2	996,469		1,075,500		995,431		1,046,200

Supplemental Cash Flow Information (Tables) - USD ($)
$ in Thousands

9 Months Ended

Sep. 30, 2020

Sep. 30, 2019

Supplemental Cash Flow Information [Abstract]

Cash payments related to operating lease liabilities

^[1],[2]

$ 80,853

$ 79,643

New ROU assets obtained in exchange for operating lease liabilities

^[2]

$ 46,234

$ 71,578

[1]	Excludes the Company's contingent payments pursuant to operating leases, which are recorded as expense in the period such contingencies are resolved.
[2]	Inclusive of leases with related parties. See note 5.

General Business (Details) - Leased or Operated Under Sprint Master Lease Agreements [Member] $ in Billions	Sep. 30, 2020 USD ($)
Site count as a percentage of total sites	68.00%
Purchase option price	$ 2.3

Restatement of Financial Statements (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Property, Plant and Equipment, Net	$ 972,323	$ 1,008,702	$ 972,323	$ 1,008,702	$ 1,010,367
Depreciation, amortization and accretion	$ 53,048	51,881	$ 158,138	155,087
Revision of Prior Period, Adjustment [Member]
Property, Plant and Equipment, Net		(4,140)		(4,140)
Depreciation, amortization and accretion		$ (736)		$ (2,208)

Restatement of Financial Statements Restated Condensed Consolidated Balance Sheet (Details) - USD ($)
$ in Thousands

Sep. 30, 2020

Jun. 30, 2020

Dec. 31, 2019

Sep. 30, 2019

Jun. 30, 2019

Dec. 31, 2018

$ 972,323

$ 1,010,367

$ 1,008,702

4,508,957

4,601,457

4,609,064

87,503

^[1]

70,217

^[1]

66,933

^[2]

173,283

144,722

148,902

194,620

^[1]

203,470

^[1]

200,648

^[2]

2,535,998

2,504,503

2,491,360

1,972,959

2,096,954

2,117,704

1,972,959

$ 2,022,376

2,096,954

2,117,704

$ 2,156,857

$ 2,219,198

Previously Reported [Member]

$ 4,508,957

$ 4,601,457

4,609,064

1,015,632

4,615,994

^[2]

13,390

95,359

^[2]

35,618

2,272,787

2,343,207

2,343,207

Revision of Prior Period, Adjustment [Member]

4,615,994

(4,140)

(4,140)

^[2]

53,543

53,543

^[2]

165,030

218,573

(222,713)

(222,713)

Other Adjustment [Member]

(4,140)

(2,790)

(2,790)

^[2]

^[2]

(2,790)

(2,790)

$ (2,790)

[1]	Reflects the recording of deferred revenues in connection with the tower installation and modification transactions described in note 5 that result in permanent improvements to the Company's towers. The Company receives no cash from, and is not party to, such transactions.
[2]	Reflects the recording of deferred revenues in connection with the tower installation and modification transactions described in note 5 that result in permanent improvements to the Company's towers. The Company receives no cash from, and is not party to, such transactions.

Restatement of Financial Statements Restated Condensed Consolidated Statement of Operations (Details) - USD ($)
$ in Thousands

3 Months Ended

9 Months Ended

Sep. 30, 2020

Sep. 30, 2019

Sep. 30, 2020

Sep. 30, 2019

Amortization of tower installations and modifications

$ 173,348

$ 171,745

$ 517,041

$ 507,256

^[1]

14,818

13,436

^[2]

43,639

38,371

^[2]

188,166

185,181

560,680

545,627

53,048

51,881

158,138

155,087

116,218

113,778

346,549

339,122

71,948

71,403

214,131

206,505

61,967

61,594

184,299

177,044

Previously Reported [Member]

$ 61,887

61,492

$ 184,007

176,737

Amortization of tower installations and modifications

171,745

507,256

^[2]

171,745

507,256

52,665

157,436

114,562

341,471

57,183

165,785

47,374

136,324

Revision of Prior Period, Adjustment [Member]

47,272

136,017

Amortization of tower installations and modifications

^[2]

13,436

38,371

13,436

38,371

(736)

(2,208)

(736)

(2,208)

14,172

40,579

14,172

40,579

Other Adjustment [Member]

14,172

40,579

Amortization of tower installations and modifications

^[2]

(48)

(141)

(48)

(141)

141

141

$ 48

$ 141

[1]	Represents the amortization of deferred revenues recorded in connection with the tower installation and modification transactions described in note 5 that result in permanent improvements to the Company's towers. The Company receives no cash from, and is not party to, such transactions.
[2]	Represents the amortization of deferred revenues recorded in connection with the tower installation and modification transactions described in note 5 that result in permanent improvements to the Company's towers. The Company receives no cash from, and is not party to, such transactions.

Restatement of Financial Statements Restated Condensed Consolidated Statement of Cash Flows (Details) - USD ($)
$ in Thousands

3 Months Ended

9 Months Ended

Sep. 30, 2020

Sep. 30, 2019

Sep. 30, 2020

Sep. 30, 2019

$ 61,887

$ 61,492

$ 184,007

$ 176,737

53,048

51,881

158,138

155,087

Net cash provided by (used for) operating activities

6,800

15,477

^[1]

356,339

342,214

^[2]

Net cash provided by (used for) investing activities

^[3]

(37,179)

(64,204)

^[4]

(37,179)

(64,204)

Net cash provided by (used for) financing activities

^[5]

(111,304)

(100,645)

(308,002)

(278,231)

(308,002)

(278,231)

Net increase (decrease) in cash and cash equivalents

11,158

(221)

20,407

18,707

Revision of Prior Period, Adjustment [Member]

$ 31,565

18,486

$ 31,565

18,486

14,172

40,579

(736)

(2,208)

Net cash provided by (used for) operating activities

13,860

^[2]

52,231

Net cash provided by (used for) investing activities

^[4]

Net cash provided by (used for) financing activities

(52,231)

(52,231)

Net increase (decrease) in cash and cash equivalents

Other Adjustment [Member]

141

(48)

(141)

Net cash provided by (used for) operating activities

^[2]

Net cash provided by (used for) investing activities

^[4]

199

199

Net cash provided by (used for) financing activities

(199)

(199)

Net increase (decrease) in cash and cash equivalents

Previously Reported [Member]

47,272

136,017

52,665

157,436

Net cash provided by (used for) operating activities

1,617

^[2]

289,983

Net cash provided by (used for) investing activities

^[4]

(64,403)

(64,403)

Net cash provided by (used for) financing activities

(225,801)

(225,801)

Net increase (decrease) in cash and cash equivalents

(221)

18,707

Management Fee, Percent Fee

$ 18,486

[1]	The Company receives no cash from, and is not party to, the tower installation and modification transactions described in note 5. Such transactions, however, are reflected on the cash flow statement for GAAP purposes as if an amount equal to the lease component for such transactions had been received by the Company, and, as such, the amounts have been recorded as deferred revenues.
[2]	The Company receives no cash from, and is not party to, the tower installation and modification transactions described in note 5. Such transactions, however, are reflected on the cash flow statement for GAAP purposes as if an amount equal to the lease component for such transactions had been received by the Company, and, as such, the amounts have been recorded as deferred revenues.
[3]	Includes permanent improvements recorded in connection with the tower installation and modification transactions described in note 5. The Company receives no cash from, and is not party to, such transactions.
[4]	Includes permanent improvements recorded in connection with the tower installation and modification transactions described in note 5. The Company receives no cash from, and is not party to, such transactions.
[5]	See note 5. The Company receives no cash from, and is not party to, the tower installation and modification transactions described in note 5.

Debt and Other Obligations (Indebtedness) (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Debt	$ 996,469	$ 995,431
2012 secured notes tranche B [Member]
Debt Instrument [Line Items]
Stated interest rate	3.849%

Debt and Other Obligations (Components of Interest Expense and Amortization of Deferred Financing Costs) (Details) - USD ($) $ in Thousands	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 on debt obligations	$ 9,623	$ 9,623	$ 28,868	$ 28,868
Amortization of deferred financing costs	346	346	1,038	1,038
Total	$ 9,969	$ 9,969	$ 29,906	$ 29,906

Related Party Transactions (Details) - USD ($)
$ in Thousands

3 Months Ended

9 Months Ended

Sep. 30, 2020

Sep. 30, 2019

Sep. 30, 2020

Sep. 30, 2019

7.50%