filings.toolsItem 16. Form 10-K Summary
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Item 16. Form 10-K Summary
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CROWN CASTLE INTERNATIONAL CORP. AND SUBSIDIARIES
SCHEDULE II—VALUATION AND QUALIFYING ACCOUNTS
YEARS ENDED DECEMBER 31, 2017, 2016 AND 2015
(In thousands of dollars)
| Additions | Deductions | ||||||||||||||||||||||||||
| Balance at Beginning of Year | Charged to Operations | Credited to Operations | Written Off | Effect of Exchange Rate Changes | Other Adjustments | Balance at End of Year | |||||||||||||||||||||
| Allowance for Doubtful Accounts Receivable: | |||||||||||||||||||||||||||
| 2017 | $ | 11,314 | $ | 4,360 | $ | — | $ | (4,591 | ) | $ | — | $ | 2,663 | (a) | $ | 13,746 | |||||||||||
| 2016 | $ | 9,574 | $ | 4,873 | $ | — | $ | (3,133 | ) | $ | — | $ | — | $ | 11,314 | ||||||||||||
| 2015 | $ | 10,037 | $ | 2,958 | $ | — | $ | (3,421 | ) | $ | — | $ | — | $ | 9,574 |
| (a) | Represents the allowance for doubtful accounts reflected in the preliminary purchase price allocations for the 2017 Acquisitions. See note 4. |
| Additions | Deductions | ||||||||||||||||||||||||||
| Balance at Beginning of Year | Charged to Operations | Charged to Additional Paid-in Capital and Other Comprehensive Income | Credited to Operations | Credited to Additional Paid-in Capital and Other Comprehensive Income | Other Adjustments(a) | Balance at End of Year | |||||||||||||||||||||
| Deferred Tax Valuation Allowance: | |||||||||||||||||||||||||||
| 2017 | $ | 6,627 | $ | 59 | $ | — | $ | (5,514 | ) | $ | — | $ | — | $ | 1,172 | ||||||||||||
| 2016 | $ | 1,994 | $ | 586 | $ | — | $ | (2,236 | ) | $ | — | $ | 6,283 | $ | 6,627 | ||||||||||||
| 2015 | $ | 21,038 | $ | 164 | $ | — | $ | (3,000 | ) | $ | — | $ | (16,208 | ) | $ | 1,994 |
| (a) | Inclusive of (1) the effects of acquisitions and (2) the inclusion of small cells in the REIT in January 2016. |
CROWN CASTLE INTERNATIONAL CORP. AND SUBSIDIARIES
SCHEDULE III—SCHEDULE OF REAL ESTATE AND ACCUMULATED DEPRECIATION
YEARS ENDED DECEMBER 31, 2017 AND 2016
(In thousands of dollars)
| Description | Encumbrances | Initial Cost to Company | Cost Capitalized Subsequent to Acquisition | Gross Amount Carried at Close of Current Period | Accumulated Depreciation at Close of Current Period | Date of Construction | Date Acquired | Life on Which Depreciation in Latest Income Statement is Computed | ||||||||
| 40,080 towers(1) | $ | 4,580,581 | (2) | (3) | (3) | $ | 20,109,562 | (4) | $ | (7,303,230 | ) | Various | Various | Up to 20 years |
| (1) | Amount is exclusive of small cell nodes. No single tower exceeds 5% of the aggregate gross amounts at which the assets were carried at the close of the period set forth in the table above. |
| (2) | Certain of the Company's debt is secured by (1) a pledge of the equity interests in each applicable issuer and (2) a security interest in the applicable issuers' leases with tenants to lease tower space (space licenses). |
| (3) | The Company has omitted this information, as it would be impracticable to compile such information on a tower-by-tower basis. |
| (4) | Does not include those towers under construction. |
| 2017 | 2016 | ||||||
| Gross amount at beginning | $ | 16,120,896 | $ | 15,110,835 | |||
| Additions during period: | |||||||
| Acquisitions through foreclosure | — | — | |||||
| Other acquisitions(1)(2) | 2,787,829 | 130,139 | |||||
| Communications infrastructure construction and improvements | 1,062,589 | 709,538 | |||||
| Purchase of land interests | 80,647 | 74,579 | |||||
| Sustaining capital expenditures | 56,480 | 55,417 | |||||
| Other(3) | 46,537 | 95,049 | |||||
| Total additions | 4,034,082 | 1,064,722 | |||||
| Deductions during period: | |||||||
| Cost of real estate sold or disposed | (45,416 | ) | (54,661 | ) | |||
| Other | — | — | |||||
| Total deductions: | (45,416 | ) | (54,661 | ) | |||
| Balance at end | $ | 20,109,562 | $ | 16,120,896 |
| (1) | Inclusive of changes between the final purchase price allocation and the preliminary purchase price allocations. |
| (2) | Includes acquisitions of communications infrastructure. |
| (3) | Predominately relates to the purchase of property and equipment under capital leases and installment land purchases. |
| 2017 | 2016 | ||||||
| Gross amount of accumulated depreciation at beginning | $ | (6,446,448 | ) | $ | (5,648,598 | ) | |
| Additions during period: | |||||||
| Depreciation | (889,983 | ) | (810,549 | ) | |||
| Total additions | (889,983 | ) | (810,549 | ) | |||
| Deductions during period: | |||||||
| Amount for assets sold or disposed | 26,391 | 24,190 | |||||
| Other | 6,810 | (11,491 | ) | ||||
| Total deductions | 33,201 | 12,699 | |||||
| Balance at end | $ | (7,303,230 | ) | $ | (6,446,448 | ) |
SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this Annual Report on Form 10-K to be signed on its behalf by the undersigned, thereunto duly authorized, on this 26th day of February, 2018.
| CROWN CASTLE INTERNATIONAL CORP. | ||
| By: | /s/ DANIEL K. SCHLANGER | |
| Daniel K. Schlanger Senior Vice President, Chief Financial Officer and Treasurer |
POWER OF ATTORNEY
KNOW ALL MEN BY THESE PRESENTS, that each person whose signature appears below constitutes and appoints Jay A. Brown and Kenneth J. Simon and each of them, as his or her true and lawful attorneys-in-fact and agents with full power of substitution and re-substitution for him or her and in his or her name, place and stead, in any and all capacities, to sign any and all documents relating to the Annual Report on Form 10-K, including any and all amendments and supplements thereto, for the year ended December 31, 2017 and to file the same with all exhibits thereto and other documents in connection therewith with the Securities and Exchange Commission granting unto said attorneys-in-fact and agents full power and authority to do and perform each and every act and thing requisite and necessary to be done in and about the premises, as fully as to all intents and purposes as he or she might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents or their substitute or substitutes may lawfully do or cause to be done by virtue hereof.
Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, as amended, this Annual Report on Form 10-K has been signed below by the following persons on behalf of the Registrant and in the capacities indicated below on this 26th day of February, 2018.
| Name | Title | |
| /s/ JAY A. BROWN | President, Chief Executive Officer and Director | |
| Jay A. Brown | (Principal Executive Officer) | |
| /s/ DANIEL K. SCHLANGER | Senior Vice President, Chief Financial Officer and Treasurer | |
| Daniel K. Schlanger | (Principal Financial Officer) | |
| /s/ ROBERT S. COLLINS | Vice President and Controller | |
| Robert S. Collins | (Principal Accounting Officer) | |
| /s/ J. LANDIS MARTIN | Chairman of the Board of Directors | |
| J. Landis Martin | ||
| /s/ P. ROBERT BARTOLO | Director | |
| P. Robert Bartolo | ||
| /s/ CINDY CHRISTY | Director | |
| Cindy Christy | ||
| /s/ ARI Q. FITZGERALD | Director | |
| Ari Q. Fitzgerald | ||
| /s/ ROBERT E. GARRISON II | Director | |
| Robert E. Garrison II | ||
| /s/ ANDREA J. GOLDSMITH | Director | |
| Andrea J. Goldsmith | ||
| /s/ LEE W. HOGAN | Director | |
| Lee W. Hogan | ||
| /s/ EDWARD C. HUTCHESON, JR. | Director | |
| Edward C. Hutcheson, Jr. | ||
| /s/ ROBERT F. MCKENZIE | Director | |
| Robert F. McKenzie | ||
| /s/ ANTHONY J. MELONE | Director | |
| Anthony J. Melone | ||
| /s/ W. BENJAMIN MORELAND | Director | |
| W. Benjamin Moreland |
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