filings.toolsItem 6. SELECTED FINANCIAL DATA
7K characters. Original on sec.gov · Markdown
Item 6. SELECTED FINANCIAL DATA
The following table sets forth selected historical financial data as of and for each of the five years in the period ended December 31, 2015. The financial data for the fiscal years ended 2015, 2014, 2013, 2012, and 2011 have been derived from our audited consolidated financial statements. You should read the information set forth below in conjunction with our “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and our consolidated financial statements and the related notes to those consolidated financial statements included in this Form 10-K.
| For the year ended December 31, | |||||||||||||||
| 2015 | 2014 | 2013 | 2012 | 2011 | |||||||||||
| (audited) (in thousands, except for per share data) | |||||||||||||||
| Revenues: | |||||||||||||||
| Site leasing | $ | 1,480,634 | $ | 1,360,202 | $ | 1,133,013 | $ | 846,094 | $ | 616,294 | |||||
| Site development | 157,840 | 166,794 | 171,853 | 107,990 | 81,876 | ||||||||||
| Total revenues | 1,638,474 | 1,526,996 | 1,304,866 | 954,084 | 698,170 | ||||||||||
| Operating expenses: | |||||||||||||||
| Cost of revenues (exclusive of depreciation, accretion, | |||||||||||||||
| and amortization shown below): | |||||||||||||||
| Cost of site leasing | 324,655 | 301,313 | 270,772 | 188,951 | 131,916 | ||||||||||
| Cost of site development | 119,744 | 127,172 | 137,481 | 90,556 | 71,005 | ||||||||||
| Selling, general, and administrative | 114,951 | 103,317 | 85,476 | 72,148 | 62,828 | ||||||||||
| Acquisition related adjustments and expenses | 11,864 | 7,798 | 19,198 | 40,433 | 7,144 | ||||||||||
| Asset impairment and decommission costs | 94,783 | 23,801 | 28,960 | 6,383 | 5,472 | ||||||||||
| Depreciation, accretion, and amortization | 660,021 | 627,072 | 533,334 | 408,467 | 309,146 | ||||||||||
| Total operating expenses | 1,326,018 | 1,190,473 | 1,075,221 | 806,938 | 587,511 | ||||||||||
| Operating income | 312,456 | 336,523 | 229,645 | 147,146 | 110,659 | ||||||||||
| Other income (expense): | |||||||||||||||
| Interest income | 3,894 | 677 | 1,794 | 1,128 | 136 | ||||||||||
| Interest expense | (322,366) | (292,600) | (249,051) | (196,241) | (160,896) | ||||||||||
| Non-cash interest expense | (1,505) | (27,112) | (49,085) | (70,110) | (63,629) | ||||||||||
| Amortization of deferred financing fees | (19,154) | (17,572) | (15,560) | (12,870) | (9,188) | ||||||||||
| Loss from extinguishment of debt, net | (783) | (26,204) | (6,099) | (51,799) | (1,696) | ||||||||||
| Other income (expense) | (139,137) | 10,628 | 31,138 | 5,654 | (165) | ||||||||||
| Total other expense | (479,051) | (352,183) | (286,863) | (324,238) | (235,438) | ||||||||||
| Loss before provision for income taxes | (166,595) | (15,660) | (57,218) | (177,092) | (124,779) | ||||||||||
| (Provision) benefit for income taxes | (9,061) | (8,635) | 1,309 | (6,594) | (2,113) | ||||||||||
| Net loss from continuing operations | (175,656) | (24,295) | (55,909) | (183,686) | (126,892) | ||||||||||
| Income from discontinued operations, net of income taxes | — | — | — | 2,296 | — | ||||||||||
| Net loss | (175,656) | (24,295) | (55,909) | (181,390) | (126,892) | ||||||||||
| Net income attributable to the | |||||||||||||||
| noncontrolling interest | — | — | — | 353 | 436 | ||||||||||
| Net loss attributable to SBA Communications Corporation | $ | (175,656) | $ | (24,295) | $ | (55,909) | $ | (181,037) | $ | (126,456) | |||||
| Basic and diluted per common share amounts: | |||||||||||||||
| Loss from continuing operations | $ | (1.37) | $ | (0.19) | $ | (0.44) | $ | (1.53) | $ | (1.14) | |||||
| Income from discontinued operations | — | — | — | 0.02 | — | ||||||||||
| Net loss per common share | $ | (1.37) | $ | (0.19) | $ | (0.44) | $ | (1.51) | $ | (1.14) | |||||
| Basic and diluted weighted avg. number of common shares | 127,794 | 128,919 | 127,769 | 120,280 | 111,595 |
| As of December 31, | |||||||||||||||
| 2015 | 2014 | 2013 | 2012 | 2011 | |||||||||||
| (audited) (in thousands) | |||||||||||||||
| Balance Sheet Data | |||||||||||||||
| Cash and cash equivalents | $ | 118,039 | $ | 39,443 | $ | 122,112 | $ | 233,099 | $ | 47,316 | |||||
| Restricted cash - current | 25,353 | 52,519 | 47,305 | 27,708 | 22,266 | ||||||||||
| Short-term investments | 706 | 5,549 | 5,446 | 5,471 | 5,773 | ||||||||||
| Property and equipment, net | 2,782,353 | 2,762,417 | 2,578,444 | 2,671,317 | 1,583,393 | ||||||||||
| Intangibles, net | 3,735,413 | 4,189,540 | 3,387,198 | 3,134,133 | 1,639,784 | ||||||||||
| Total assets | 7,403,215 | 7,841,125 | 6,783,188 | 6,615,911 | 3,606,399 | ||||||||||
| Total debt | 8,542,305 | 7,860,799 | 5,876,607 | 5,356,103 | 3,354,485 | ||||||||||
| Total shareholders' (deficit) equity | (1,706,144) | (660,800) | 356,966 | 652,991 | (11,313) |
| For the year ended December 31, | |||||||||||||||
| 2015 | 2014 | 2013 | 2012 | 2011 | |||||||||||
| Other Data | (audited) (in thousands) | ||||||||||||||
| Cash provided by (used in): | |||||||||||||||
| Operating activities | $ | 737,173 | $ | 671,643 | $ | 497,587 | $ | 340,914 | $ | 249,058 | |||||
| Investing activities | (734,521) | (1,760,127) | (817,198) | (2,269,120) | (503,273) | ||||||||||
| Financing activities | 88,937 | 991,838 | 210,837 | 2,110,481 | 237,432 |
Previous: Item 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES · Next: Item 7. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS