Sba communications corporation (SBAC)
CashFlow / TTM
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11Dec'10Sep'10Jun'10Mar'10
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)

-6,638

147,284

136,880

131,259

41,895

47,451

-2,042

30,976

97,601

103,654

101,256

36,722

60,197

76,238

101,993

-38,583

-42,987

-175,656

-206,283

-66,959

-104,732

-24,295

-43,847

-5,695

-32,126

-55,909

-89,333

-163,560

-181,115

-181,390

0

0

0

-

-

-

-191,386

-194,421

0

0

0

Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation, accretion, and amortization

708,619

697,078

687,044

679,759

677,753

672,113

665,302

659,505

649,467

643,100

639,011

637,216

637,419

638,189

641,096

645,315

647,969

660,021

660,774

655,855

654,483

627,072

598,186

572,056

552,140

533,334

531,363

499,094

452,003

408,467

356,551

333,675

316,368

309,146

302,428

294,019

286,159

278,727

0

0

0

Non-cash asset impairment and decommission costs

40,787

32,241

26,862

25,251

23,197

26,192

32,253

34,382

33,822

32,423

28,959

21,660

28,544

25,693

38,561

99,256

88,575

89,406

78,370

21,023

20,553

18,384

20,631

21,656

23,785

23,819

16,925

12,814

8,926

6,383

0

0

0

-

-

-

-

-

-

-

-

Non-cash compensation expense

66,078

73,214

70,820

68,521

55,331

42,327

41,495

40,485

39,382

38,249

37,057

35,709

34,407

32,915

31,596

30,223

29,544

28,747

27,343

27,058

25,041

22,671

21,426

19,215

17,949

17,205

16,392

15,865

14,785

13,968

13,360

12,454

11,745

11,469

11,391

11,071

10,710

10,501

0

0

0

Non-cash interest expense

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

9,117

17,088

27,112

36,766

38,172

42,025

49,085

0

0

0

-

-

-

65,227

63,629

62,429

61,429

60,596

60,070

0

0

0

Loss on remeasurement of U.S. dollar denominated intercompany loans

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

17,891

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

(Recovery) provision for doubtful accounts

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-

-

-

-

-

0

0

0

Loss from extinguishment of deb, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-26,204

0

0

0

-

0

0

0

-

-

-

-

-1,696

-1,702

-1,712

-50,644

-49,060

0

0

0

Deferred income tax (benefit) expense

0

-

0

0

0

-

0

0

0

-

-

-

-

-

-

-

-

-

-

685

613

530

-5,015

-5,209

-4,366

-6,642

-2,766

-1,428

-459

1,360

805

230

-1,371

-1,686

-1,444

-1,013

-921

-737

0

0

0

Amortization of deferred financing fees

-

-

-

-

-

-

-

-

-

-

21,704

22,193

22,569

21,136

21,216

20,574

19,875

19,154

18,431

18,226

17,879

17,572

17,166

16,549

16,193

15,560

15,085

14,303

14,041

12,870

11,700

10,882

9,422

9,188

8,988

8,793

8,806

9,099

0

0

0

Non-cash earnout adjustments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loss on remeasurement of U.S. dollar denominated intercompany loans

-

-

-

-

-

-

-

-

-

-

12,715

-8,860

58,924

90,030

90,532

-18,430

-50,094

-178,854

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from disposition of fixed assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

0

0

0

Gain on sale/settlement of bankruptcy claim on convertible hedge

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

Other non-cash items reflected in the Statements of Operations

-35,002

-19,381

31,121

32,939

19,864

14,586

-26,287

-19,953

2,101

4,850

-2,430

428

1,069

1,225

4,686

3,319

3,845

5,255

10,534

10,448

9,505

7,754

26,256

22,363

23,627

23,681

3,334

1,036

4,276

4,525

-1,509

4,504

-95

-768

-75

-1,031

-416

-163

0

0

0

Changes in operating assets and liabilities, net of acquisitions:
Accounts receivable and costs and estimated earnings in excess of billings on uncompleted contracts, net

-5,635

12,146

38,681

36,801

22,298

29,427

13,598

16,986

27,535

20,893

15,576

17,118

5,916

7,270

11,911

-18,283

-11,620

-15,975

1,354

29,128

40,444

36,245

5,215

9,477

6,765

29,097

39,115

35,216

31,233

18,804

16,443

10,180

6,228

3,709

3,078

2,649

8,843

5,919

0

0

0

Prepaid expenses and other assets

635

-878

9,310

18,523

28,893

38,040

26,781

21,415

21,388

16,888

27,484

25,522

32,800

40,289

40,979

64,628

68,914

62,934

71,190

69,936

69,667

62,185

56,759

64,199

61,828

81,458

102,997

82,847

91,050

82,759

88,380

52,677

36,249

27,425

-9,103

17,117

14,249

15,023

0

0

0

Operating lease right-of-use assets, net

99,730

93,665

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accounts payable and accrued expenses

-5,626

-5,951

-3,046

6,726

6,265

-3,021

-3,787

-4,920

-6,882

3,555

-1,407

-4,625

-6,138

-10,516

-8,026

-2,292

-4,745

7,366

22,824

11,596

9,380

5,475

-1,505

3,522

8,040

7,711

17,201

19,160

24,234

21,341

9,960

10,108

1,967

3,814

-6,178

-5,342

-5,268

-3,313

0

0

0

Accrued interest

0

-

0

0

0

-

0

0

0

-

0

0

0

-

0

0

0

-

0

0

0

-

0

0

0

-

0

0

0

-

5,914

-7,608

8

58

4,380

294

258

-3,300

0

0

0

Long-term lease liabilities

-92,604

-87,544

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other liabilities

21,534

6,627

16,282

-2,817

23,020

23,581

6,907

12,458

7,420

4,556

19,612

19,786

27,419

22,467

22,646

-515

-1,096

3,999

24,475

61,987

62,806

66,821

48,857

49,033

51,275

47,660

54,847

36,554

37,680

44,390

23,875

22,205

10,123

3,530

5,673

5,295

13,602

10,371

0

0

0

Net cash provided by operating activities

1,025,122

970,045

931,459

891,668

894,706

850,618

851,141

839,327

824,741

818,470

806,766

791,989

770,187

742,525

715,524

702,233

689,266

723,030

723,789

714,927

692,533

674,340

639,827

604,373

563,574

497,587

446,439

420,304

369,102

340,914

300,154

274,938

261,910

249,058

244,757

225,894

216,910

201,140

0

0

0

CASH FLOWS FROM INVESTING ACTIVITIES:
Acquisitions

808,201

773,957

331,695

317,648

389,494

451,829

684,375

644,729

516,518

441,547

246,440

210,312

227,654

276,835

392,221

435,152

648,083

609,530

945,185

940,830

710,848

1,585,222

1,379,072

1,389,444

1,395,490

677,379

1,616,790

1,556,742

2,411,118

2,252,724

1,152,954

1,164,667

340,171

379,320

365,985

382,119

387,997

328,045

0

0

0

Capital expenditures

157,153

154,236

156,227

153,983

155,090

149,812

145,700

146,223

142,393

147,044

141,972

138,756

139,669

139,982

150,716

160,976

176,667

208,707

242,215

257,492

247,113

211,251

196,867

170,842

164,708

168,893

142,177

135,180

124,836

113,265

104,693

119,488

131,635

126,938

115,356

94,857

74,612

66,618

0

0

0

Purchase of investments

1,098,922

638,963

586,075

437,790

306,350

156,983

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

Proceeds from sale of investments

1,085,250

625,807

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

0

0

0

Proceeds from foreign currency swap contract

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other investing activities

15,168

5,809

9,656

693

2,239

10,613

717

10,711

12,664

16,350

30,755

18,993

13,462

12,030

17,338

23,482

12,828

8,556

-17,530

-21,237

-10,838

-11,457

-26,332

-23,945

-28,210

-29,074

-99,872

-98,258

-98,067

-96,869

0

0

0

-

-

-

-

-

-

-

-

Net cash used in investing activities

-994,194

-947,158

-513,096

-503,667

-551,726

-618,347

-834,509

-806,621

-672,427

-605,107

-418,937

-367,449

-380,173

-428,235

-470,547

-529,882

-747,850

-737,065

-1,166,872

-1,174,087

-944,125

-1,764,127

-1,531,716

-1,518,450

-1,514,097

-817,198

-1,753,395

-1,593,664

-2,437,887

-2,269,120

-1,165,831

-1,288,161

-475,030

-507,888

-482,798

-474,577

-461,035

-425,039

0

0

0

CASH FLOWS FROM FINANCING ACTIVITIES:
Borrowings under Revolving Credit Facility

0

-

-

-

-

1,120,000

0

0

0

-

-

-

-

580,000

290,000

460,000

705,000

770,000

895,000

875,000

660,000

700,000

0

0

0

-

-

-

-

584,000

484,000

484,000

275,000

250,000

0

0

0

-

-

-

-

Repayments under Revolving Credit Facility

880,000

590,000

700,000

670,000

980,000

835,000

1,225,000

1,035,000

835,000

875,000

425,000

420,000

250,000

190,000

420,000

470,000

920,000

895,000

915,000

935,000

425,000

790,000

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repayment of Term Loans

-

-

-

-

-

-

-

-

-

20,000

0

0

0

-

-

-

187,500

190,000

32,500

30,000

25,000

310,500

305,500

300,500

800,500

512,000

0

0

0

-

-

0

0

-

-

-

-

-

-

-

0

Proceeds from issuance of Term Loans, net of fees

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,483,337

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from issuance of Senior Notes, net of fees

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payment for purchase of noncontrolling interests

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-

-

-

-

-

-

0

0

-

-

-

-

Proceeds from settlement of convertible note hedges

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

182,855

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Payments for settlement of common stock warrants

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

150,874

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payment of restricted cash to settle 5.625% Senior Notes

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

0

0

0

Repayment of Senior Notes

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repurchase of 2016 Notes and 2019 Notes

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

Proceeds from employee stock purchase/stock option plans

85,381

116,202

139,111

135,495

122,669

59,880

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

28,496

23,059

16,645

15,801

11,897

15,726

16,227

16,133

0

0

0

Payments related to taxes on stock options and restricted stock units

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from issuance of Tower Securities, net of fees

-

-

-

-

-

631,466

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repayment of Tower Securities

-

-

-

-

-

755,000

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payment for earn-outs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repurchase and retirement of common stock

0

-

-

-

-

795,581

784,703

1,055,620

888,660

854,534

866,710

540,098

500,096

545,689

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

225,072

235,416

160,416

173,781

107,426

0

0

0

Payment of dividends on common stock

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from sale of common stock, net of fees

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

283,872

0

0

0

-

-

-

-

-

-

-

-

Principal payments under capital lease obligations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-

-

-

-

-

-

-

-

Payment of deferred financing fees

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

0

0

-

-

0

0

-

-

0

0

-

0

0

0

Other financing activities

-1,641

-1,605

-1,568

-1,513

-4,887

-4,520

-50,890

-39,856

-19,164

-5,862

56,644

42,840

13,852

8,394

-4,131

3,661

13,196

12,714

8,172

-12,800

-12,341

-19,582

11,029

12,868

7,587

13,226

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Net cash used in financing activities

52,398

-62,314

-424,929

-439,717

-340,633

-148,537

-8,161

-43,747

-148,253

-294,574

-939,693

-388,367

-367,506

-288,557

330,772

-142,333

73,957

75,751

83,448

430,087

-393

995,298

1,139,690

816,834

1,137,198

210,837

52,886

1,273,247

1,660,191

2,110,481

2,125,079

821,187

643,737

242,047

220,290

298,383

220,931

126,821

0

0

0

Effect of exchange rate changes on cash, cash equivalents, and restricted cash

2,418

2,247

1,922

2,165

-23,296

-9,729

-17,609

-9,789

-4,712

-464

3,395

-1,616

11,330

13,618

13,458

4,319

-4,564

-12,993

-15,194

-6,576

-6,401

13,977

13,047

15,453

14,009

-2,213

2,487

1,900

2,974

1,212

-11

-354

-167

-155

0

0

0

-

-

-

-

NET CHANGE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH

85,744

-37,180

-4,644

-49,551

-20,949

74,005

-9,138

-20,830

-651

-81,675

-548,469

34,557

33,838

39,351

589,207

34,337

10,809

48,723

-374,829

-35,649

-258,386

-80,512

260,848

-81,790

200,684

-110,987

-1,251,636

102,703

-403,324

185,783

1,261,740

-191,010

430,450

-16,938

-17,931

49,810

-23,170

-97,063

0

0

0

SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Cash paid during the period for:
Interest

388,270

386,615

390,066

390,290

384,995

376,628

350,677

343,002

320,698

319,562

331,669

328,395

342,850

338,409

338,968

333,826

327,919

322,396

314,681

305,821

300,946

278,359

274,818

255,659

252,820

244,123

233,712

206,709

194,104

182,474

173,256

178,651

165,722

161,257

152,149

151,477

150,724

153,607

0

0

0

Income taxes

21,986

21,598

19,980

22,128

25,090

21,645

19,855

17,386

13,995

14,653

12,845

12,355

10,102

9,655

9,995

9,625

10,276

9,431

8,717

8,838

7,088

7,525

7,814

7,750

6,943

6,645

6,814

5,870

6,538

5,304

4,664

4,610

4,126

4,218

3,810

3,189

1,972

1,545

0

0

0

SUPPLEMENTAL CASH FLOW INFORMATION OF NON-CASH ACTIVITIES:
Right-of-use assets obtained in exchange for new operating lease liabilities

157,886

175,517

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Operating lease modifications and reassessments

88,710

52,383

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Right-of-use assets obtained in exchange for new finance lease liabilities

3,527

3,499

1,603

1,812

1,644

1,039

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Assets acquired through capital leases

-

-

-

-

-

-

-

-

-

-

-

-

-

1,386

1,386

1,724

1,436

2,627

2,627

2,319

2,639

1,290

1,290

1,496

918

1,239

1,513

1,408

2,646

2,509

2,986

3,774

2,631

2,570

2,215

1,297

1,130

1,130

0

0

0

Common stock issued in connection with acquisitions

-

1,680

1,680

1,680

1,680

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Increase in accounts payable and accrued expenses for capital expenditures

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

-

-

-

-

Issuance of stock for settlement of convertible debt and warrants, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

229

285

308

12,885

18,159

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Contribution of DAS Networks in exchange for equity investment

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

11,000

0

0

0