American Tower Corp's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), American Tower Corp reported revenue of $10.6B (+5.1% year on year) and net income of $2.6B (-19.3% year on year).
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Total operating revenues | $10.6B | $10.1B | $11.1B | $10.7B |
| Property | $2.6B | $2.5B | $3.2B | $3.2B |
| Services | $174.0M | $92.6M | $60.1M | $107.4M |
| Depreciation, amortization and accretion | $2.0B | $2.0B | $3.1B | $3.4B |
| Selling, general, administrative and development expense | $940.7M | $933.4M | $992.5M | $972.3M |
| Other operating expense | $68.4M | $74.1M | — | — |
| Goodwill impairment | $6.5M | $0 | $402.0M | — |
| Total operating expenses | $5.8B | $5.6B | $8.1B | $8.4B |
| OPERATING INCOME | $4.8B | $4.5B | $3.0B | $2.4B |
| Interest income | $134.0M | $135.2M | $143.4M | $71.6M |
| Interest expense | ($1.4B) | ($1.4B) | ($1.4B) | ($1.1B) |
| Loss on retirement of long-term obligations | $0 | $0 | ($300.0K) | ($400.0K) |
| Other (expense) income (including foreign currency (losses) gains of $(809.4), $308.3, and $(330.6) respectively) | ($576.2M) | $377.6M | ($248.5M) | $433.7M |
| Total other expense | ($1.8B) | ($891.7M) | ($1.5B) | ($631.6M) |
| INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES | $3.0B | $3.6B | $1.5B | $1.7B |
| Income tax provision | ($415.7M) | ($366.3M) | ($154.2M) | ($24.0M) |
| NET INCOME FROM CONTINUING OPERATIONS | $2.6B | $3.3B | — | — |
| LOSS FROM DISCONTINUED OPERATIONS, NET OF TAXES | $0 | ($978.3M) | — | — |
| NET INCOME | $2.6B | $2.3B | $1.4B | $1.7B |
| Net (income) loss attributable to noncontrolling interests | ($99.0M) | ($25.2M) | $116.2M | $69.1M |
| NET INCOME ATTRIBUTABLE TO AMERICAN TOWER CORPORATION COMMON STOCKHOLDERS, BASIC | $2.5B | $2.3B | $1.5B | $1.8B |
| NET INCOME ATTRIBUTABLE TO AMERICAN TOWER CORPORATION COMMON STOCKHOLDERS, DILUTED | $2.5B | $2.3B | $1.5B | — |
| NET INCOME FROM CONTINUING OPERATIONS ATTRIBUTABLE TO AMERICAN TOWER CORPORATION COMMON STOCKHOLDERS, BASIC | $2.5B | $3.2B | — | — |
| NET INCOME FROM CONTINUING OPERATIONS ATTRIBUTABLE TO AMERICAN TOWER CORPORATION COMMON STOCKHOLDERS, DILUTED | $2.5B | $3.2B | — | — |
| NET LOSS FROM DISCONTINUED OPERATIONS ATTRIBUTABLE TO AMERICAN TOWER CORPORATION COMMON STOCKHOLDERS, BASIC | $0 | ($978.3M) | — | — |
| NET LOSS FROM DISCONTINUED OPERATIONS ATTRIBUTABLE TO AMERICAN TOWER CORPORATION COMMON STOCKHOLDERS, DILUTED | $0 | ($978.3M) | — | — |
| Basic net income from continuing operations attributable to American Tower Corporation common stockholders (in dollars per share) | $5.41 | $6.92 | — | — |
| Basic net loss from discontinued operations attributable to American Tower Corporation common stockholders per common share (in dollars per share) | $0.00 | -$2.09 | — | — |
| Basic net income attributable to American Tower Corporation common stockholders (in dollars per share) | $5.41 | $4.83 | $3.18 | $3.83 |
| Diluted net income from continuing operations attributable to American Tower Corporation common stockholders (in dollars per share) | $5.40 | $6.91 | — | — |
| Diluted net loss from discontinued operations attributable to American Tower Corporation common stockholders (in dollars per share) | $0.00 | -$2.09 | — | — |
| Diluted net income attributable to American Tower Corporation common stockholders (in dollars per share) | $5.40 | $4.82 | $3.18 | $3.82 |
| BASIC (in shares) | 467.9M | 467.0M | 466.1M | 461.5M |
| DILUTED (in shares) | 468.8M | 468.1M | 467.2M | 462.8M |
| Line item | Jun 30, 2026 · Q2 | Mar 31, 2026 · Q1 | Sep 30, 2025 · Q3 | Jun 30, 2025 · Q2 |
|---|---|---|---|---|
| Total operating revenues | $2.7B | $2.7B | $2.7B | $2.6B |
| Property | $707.9M | $664.8M | $657.0M | $640.6M |
| Services | $33.4M | $38.5M | $53.8M | $48.1M |
| Depreciation, amortization and accretion | $514.4M | $518.2M | $522.9M | $510.3M |
| Selling, general, administrative and development expense | $233.8M | $257.4M | $233.0M | $233.7M |
| Other operating (income) expense | ($9.2M) | $19.4M | — | ($3.5M) |
| Total operating expenses | $1.5B | $1.5B | $1.5B | $1.4B |
| OPERATING INCOME | $1.3B | $1.2B | $1.2B | $1.2B |
| Interest income | $44.4M | $36.0M | $36.1M | $30.6M |
| Interest expense | ($354.5M) | ($347.3M) | ($347.1M) | ($342.6M) |
| Loss on retirement of long-term obligations | ($3.2M) | — | — | — |
| Other income (expense) (including foreign currency gains (losses) of $42.1, $(484.0), $110.2 and $(829.7), respectively) | $53.8M | $90.2M | $27.7M | ($373.9M) |
| Total other expense | ($259.5M) | ($221.1M) | ($283.3M) | ($685.9M) |
| INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES | $1.0B | $1.0B | $950.0M | $511.8M |
| Income tax provision | ($121.8M) | ($139.6M) | ($37.4M) | ($131.3M) |
| Net income | $887.5M | $878.5M | $912.6M | $380.5M |
| Net income attributable to noncontrolling interests | ($20.0M) | ($19.0M) | ($59.3M) | ($13.7M) |
| NET INCOME ATTRIBUTABLE TO AMERICAN TOWER CORPORATION COMMON STOCKHOLDERS, BASIC | $867.5M | $859.5M | $853.3M | $366.8M |
| NET INCOME ATTRIBUTABLE TO AMERICAN TOWER CORPORATION COMMON STOCKHOLDERS, DILUTED | $867.5M | $859.5M | $853.3M | $366.8M |
| Basic net income attributable to American Tower Corporation common stockholders (in dollars per share) | $1.86 | $1.84 | $1.82 | $0.78 |
| Diluted net income attributable to American Tower Corporation common stockholders (in dollars per share) | $1.86 | $1.84 | $1.82 | $0.78 |
| BASIC (in shares) | 465.9M | 466.2M | 468.3M | 468.2M |
| DILUTED (in shares) | 466.3M | 466.8M | 469.0M | 468.8M |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Cash and cash equivalents | $1.5B | $2.0B | $2.0B | $2.0B |
| Restricted cash | $130.4M | $108.6M | $120.1M | $112.3M |
| Accounts receivable, net | $650.3M | $540.0M | $669.7M | $758.3M |
| Prepaid and other current assets | $486.3M | $530.6M | $946.9M | $723.3M |
| Total current assets | $2.7B | $3.2B | $3.7B | $3.6B |
| PROPERTY AND EQUIPMENT, net | $20.4B | $19.1B | $19.8B | $20.0B |
| GOODWILL | $12.3B | $11.8B | $12.6B | $13.0B |
| OTHER INTANGIBLE ASSETS, net | $14.5B | $14.5B | $16.5B | $18.0B |
| DEFERRED TAX ASSET | $151.4M | $122.7M | $179.1M | $129.2M |
| DEFERRED RENT ASSET | $3.9B | $3.7B | $3.5B | $3.0B |
| RIGHT-OF-USE ASSET | $8.4B | $8.1B | $8.9B | $8.9B |
| NOTES RECEIVABLE AND OTHER NON-CURRENT ASSETS | $876.9M | $676.9M | $789.4M | $546.7M |
| Accounts payable | $259.8M | $240.8M | $258.7M | $218.6M |
| Accrued expenses | $1.1B | $1.1B | $1.3B | $1.3B |
| Distributions payable | $818.6M | $780.3M | $906.2M | $745.3M |
| Accrued interest | $425.2M | $373.6M | $387.0M | $261.0M |
| Current portion of operating lease liability | $584.9M | $576.7M | $794.6M | $788.9M |
| Current portion of long-term obligations | $3.4B | $3.7B | $3.2B | $4.5B |
| Unearned revenue | $325.0M | $329.2M | $434.7M | $439.7M |
| Total current liabilities | $6.9B | $7.1B | $7.2B | $8.3B |
| LONG-TERM OBLIGATIONS | $33.8B | $32.8B | $35.7B | $34.2B |
| OPERATING LEASE LIABILITY | $7.2B | $6.9B | $7.4B | $7.6B |
| ASSET RETIREMENT OBLIGATIONS | $2.5B | $2.4B | $2.2B | $2.0B |
| DEFERRED TAX LIABILITY | $1.4B | $1.3B | $1.4B | $1.5B |
| OTHER NON-CURRENT LIABILITIES | $976.9M | $1.0B | $1.2B | $1.2B |
| Total liabilities | $52.8B | $51.4B | $55.2B | $54.8B |
| Common stock: $0.01 par value; 1,000,000 shares authorized; 479,358 and 478,388 shares issued; and 466,318 and 467,384 shares outstanding, respectively | 4.8M | 4.8M | 4.8M | 4.8M |
| Additional paid-in capital | $15.2B | $15.1B | $14.9B | $14.7B |
| Distributions in excess of earnings | ($5.1B) | ($4.4B) | ($3.6B) | ($2.1B) |
| Accumulated other comprehensive loss | ($4.8B) | ($6.0B) | ($5.7B) | ($5.7B) |
| Treasury stock (13,040 and 11,004 shares at cost, respectively) | -1.7B | -1.3B | -1.3B | -1.3B |
| Total American Tower Corporation equity | $3.7B | $3.4B | $4.2B | $5.6B |
| Noncontrolling interests | $6.7B | $6.3B | $6.7B | $6.8B |
| Total equity | $10.4B | $9.6B | $10.9B | $12.4B |
| TOTAL | $63.2B | $61.1B | $66.0B | $67.2B |
| Line item | Jun 30, 2026 | Mar 31, 2026 | Sep 30, 2025 | Jun 30, 2025 |
|---|---|---|---|---|
| Cash and cash equivalents | $1.8B | $1.6B | $2.0B | $2.1B |
| Restricted cash | $130.1M | $129.1M | $150.1M | $133.6M |
| Accounts receivable, net | $650.9M | $718.9M | $737.0M | $772.1M |
| Prepaid and other current assets | $578.9M | $499.6M | $697.6M | $619.7M |
| Total current assets | $3.1B | $3.0B | $3.5B | $3.6B |
| PROPERTY AND EQUIPMENT, net | $20.6B | $20.4B | $20.1B | $19.8B |
| GOODWILL | $12.2B | $12.2B | $12.3B | $12.2B |
| OTHER INTANGIBLE ASSETS, net | $14.0B | $14.2B | $14.7B | $15.0B |
| DEFERRED TAX ASSET | $175.1M | $153.6M | $166.0M | $157.0M |
| DEFERRED RENT ASSET | $3.8B | $3.9B | $3.8B | $3.8B |
| RIGHT-OF-USE ASSET | $8.5B | $8.5B | $8.4B | $8.4B |
| NOTES RECEIVABLE AND OTHER NON-CURRENT ASSETS | $1.0B | $909.1M | $821.4M | $824.5M |
| Accounts payable | $202.8M | $220.8M | $239.0M | $229.7M |
| Accrued expenses | $1.1B | $1.1B | $1.2B | $1.1B |
| Distributions payable | $852.7M | $851.9M | $820.6M | $817.7M |
| Accrued interest | $330.5M | $333.7M | $267.8M | $347.4M |
| Current portion of operating lease liability | $644.1M | $641.9M | $615.4M | $613.6M |
| Current portion of long-term obligations | $5.2B | $6.1B | $2.4B | $2.3B |
| Unearned revenue | $497.0M | $459.9M | $437.6M | $419.7M |
| Total current liabilities | $8.9B | $9.7B | $6.0B | $5.9B |
| LONG-TERM OBLIGATIONS | $32.0B | $31.2B | $34.9B | $35.2B |
| OPERATING LEASE LIABILITY | $7.1B | $7.2B | $7.2B | $7.1B |
| ASSET RETIREMENT OBLIGATIONS | $2.5B | $2.5B | $2.5B | $2.5B |
| DEFERRED TAX LIABILITY | $1.6B | $1.5B | $1.5B | $1.5B |
| OTHER NON-CURRENT LIABILITIES | $967.2M | $979.0M | $1.1B | $1.0B |
| Total liabilities | $53.0B | $53.1B | $53.1B | $53.3B |
| Common stock: $0.01 par value; 1,000,000 shares authorized; 480,163 and 479,358 shares issued; and 465,959 and 466,318 shares outstanding, respectively | 4.8M | 4.8M | 4.8M | 4.8M |
| Additional paid-in capital | $15.3B | $15.2B | $15.2B | $15.1B |
| Distributions in excess of earnings | ($5.0B) | ($5.1B) | ($5.1B) | ($5.2B) |
| Accumulated other comprehensive loss | ($4.7B) | ($4.8B) | ($4.8B) | ($5.0B) |
| Treasury stock (14,204 and 13,040 shares at cost, respectively) | -1.9B | -1.8B | -1.3B | -1.3B |
| Total American Tower Corporation equity | $3.7B | $3.5B | $4.0B | $3.7B |
| Noncontrolling interests | $6.5B | $6.6B | $6.8B | $6.8B |
| Total equity | $10.3B | $10.2B | $10.8B | $10.5B |
| TOTAL | $63.3B | $63.2B | $63.9B | $63.8B |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Net income | $2.6B | $2.3B | $1.4B | $1.7B |
| Depreciation, amortization and accretion | $2.0B | $2.1B | $3.1B | $3.4B |
| Stock-based compensation expense | $174.2M | $203.6M | $195.7M | $169.3M |
| Loss (gain) on investments, unrealized foreign currency loss (gain) and other non-cash expense | $606.7M | ($380.1M) | $279.0M | ($401.2M) |
| Impairments, net loss on sale of long-lived assets, non-cash restructuring and merger related expenses | $83.0M | $96.6M | $739.9M | $684.3M |
| Loss on early retirement of long-term obligations | $0 | $0 | $300.0K | $400.0K |
| Loss on sale of ATC TIPL | $0 | $1.2B | — | — |
| Amortization of deferred financing costs, debt discounts and premiums and other non-cash interest | $54.1M | $54.1M | $49.8M | $47.5M |
| Deferred income taxes | $42.5M | $52.3M | ($182.0M) | ($236.7M) |
| Accounts receivable | ($62.2M) | ($103.4M) | ($34.5M) | ($78.6M) |
| Prepaid and other assets | ($700.0K) | $32.8M | ($342.6M) | ($196.1M) |
| Deferred rent asset | ($101.0M) | ($276.3M) | ($472.0M) | ($499.8M) |
| Right-of-use asset and Operating lease liability, net | ($1.6M) | ($20.6M) | ($103.7M) | ($9.3M) |
| Accounts payable and accrued expenses | ($65.6M) | $48.0M | ($11.9M) | ($48.2M) |
| Accrued interest | $45.0M | ($9.6M) | $128.6M | $6.6M |
| Unearned revenue | ($30.7M) | ($79.3M) | ($43.4M) | ($818.9M) |
| Other non-current liabilities | $50.2M | $21.9M | $65.6M | $25.1M |
| Cash provided by operating activities | $5.5B | $5.3B | $4.7B | $3.7B |
| Payments for purchase of property and equipment and construction activities | ($1.7B) | ($1.6B) | ($1.8B) | ($1.9B) |
| Payments for acquisitions, net of cash acquired | ($454.2M) | ($123.0M) | ($168.0M) | ($549.0M) |
| Proceeds from sales of short-term investments and other non-current assets | $294.6M | $253.2M | $17.3M | $19.6M |
| Proceeds from the sale of ATC TIPL | $0 | $2.2B | — | — |
| Deposits and other | ($19.8M) | ($288.4M) | $253.3M | $47.8M |
| Cash (used for) provided by investing activities | ($1.9B) | $410.6M | ($1.7B) | ($2.4B) |
| Proceeds from short-term borrowings, net | $0 | $8.8M | $148.7M | $28.8M |
| Borrowings under credit facilities | $6.1B | $6.9B | $6.1B | $4.2B |
| Proceeds from issuance of senior notes, net | $3.0B | $3.6B | $5.7B | $1.3B |
| Proceeds from issuance of securities in securitization transaction | $0 | $0 | $1.3B | — |
| Repayments of notes payable, credit facilities, senior notes, secured debt, term loans and finance leases | ($9.5B) | ($12.4B) | ($13.2B) | ($9.6B) |
| Contributions from noncontrolling interest holders | $148.1M | $104.7M | $4.1M | $3.1B |
| Distributions to noncontrolling interest holders | ($270.8M) | ($390.8M) | ($46.5M) | ($10.9M) |
| Purchases of common stock | ($364.6M) | $0 | $0 | ($18.8M) |
| Proceeds from stock options and employee stock purchase plan | 41.7M | 46.4M | 22.1M | 32.4M |
| Distributions paid on common stock | ($3.2B) | ($3.1B) | ($2.9B) | ($2.6B) |
| Deferred financing costs and other financing activities | ($233.5M) | ($218.5M) | ($144.5M) | ($94.9M) |
| Cash used for financing activities | ($4.2B) | ($5.5B) | ($3.1B) | ($1.4B) |
| Net effect of changes in foreign currency exchange rates on cash and cash equivalents, and restricted cash | $101.3M | ($233.9M) | $23.2M | ($120.4M) |
| NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS, AND RESTRICTED CASH | ($503.0M) | $14.8M | ($47.3M) | ($202.6M) |
| CASH AND CASH EQUIVALENTS, AND RESTRICTED CASH, BEGINNING OF YEAR | $2.1B | $2.1B | $2.1B | $2.3B |
| CASH AND CASH EQUIVALENTS, AND RESTRICTED CASH, END OF YEAR | $1.6B | $2.1B | $2.1B | $2.1B |
| Line item | Jun 30, 2026 · YTD | Mar 31, 2026 · Q1 | Sep 30, 2025 · YTD | Jun 30, 2025 · YTD |
|---|---|---|---|---|
| Net income | $1.8B | $878.5M | $1.8B | $879.1M |
| Depreciation, amortization and accretion | $1.0B | $518.2M | $1.5B | $1.0B |
| Stock-based compensation expense | $92.6M | $58.4M | $142.6M | $100.7M |
| Loss on retirement of long-term obligations | $3.2M | — | — | — |
| Other non-cash items reflected in statements of operations | $50.0M | $35.3M | $796.3M | $826.6M |
| Increase in net deferred rent balances | $0 | ($18.9M) | ($73.0M) | ($45.3M) |
| Right-of-use asset and Operating lease liability, net | $35.9M | $24.2M | $47.7M | $29.3M |
| Changes in unearned revenue | $166.8M | $136.3M | $81.9M | $46.8M |
| Increase in assets | ($160.4M) | ($109.2M) | ($237.7M) | ($219.8M) |
| Decrease in liabilities | ($99.3M) | ($122.2M) | ($38.7M) | ($43.7M) |
| Cash provided by operating activities | $2.9B | $1.4B | $4.0B | $2.6B |
| Payments for purchase of property and equipment and construction activities | ($770.4M) | ($449.5M) | ($1.1B) | ($635.7M) |
| Payments for acquisitions, net of cash acquired | ($133.2M) | ($19.2M) | ($420.2M) | ($332.3M) |
| Proceeds from sale of short-term investments and other non-current assets | $76.5M | $0 | $137.7M | $137.7M |
| Deposits and other | ($6.6M) | ($5.0M) | ($8.0M) | ($10.9M) |
| Cash used for investing activities | ($833.7M) | ($473.7M) | ($1.4B) | ($841.2M) |
| Borrowings under credit facilities | $3.6B | $1.5B | $5.3B | $3.6B |
| Proceeds from issuance of senior notes, net | $872.2M | $0 | $2.2B | $1.6B |
| Proceeds from other borrowings | $0 | $0 | $1.2M | $1.2M |
| Repayments of notes payable, credit facilities, senior notes, secured debt and finance leases | ($4.3B) | ($1.2B) | ($7.8B) | ($5.3B) |
| Distributions to noncontrolling interest holders | ($94.0M) | ($29.9M) | ($140.7M) | ($111.9M) |
| Contributions from noncontrolling interest holders | $4.3M | $800.0K | $148.1M | $111.3M |
| Purchases of common stock | ($202.9M) | ($176.2M) | — | — |
| Proceeds from stock options and employee stock purchase plan | 21.0M | 12.5M | 34.6M | 30.1M |
| Distributions paid on common stock | ($1.6B) | ($806.6M) | ($2.4B) | ($1.6B) |
| Payment for early retirement of long-term obligations | ($2.8M) | — | — | — |
| Deferred financing costs and other financing activities | ($86.2M) | ($65.5M) | ($107.1M) | ($90.6M) |
| Cash used for financing activities | ($1.8B) | ($831.0M) | ($2.8B) | ($1.8B) |
| Net effect of changes in foreign currency exchange rates on cash and cash equivalents, and restricted cash | $36.4M | $36.8M | $112.5M | $116.6M |
| NET INCREASE IN CASH AND CASH EQUIVALENTS, AND RESTRICTED CASH | $287.4M | $132.7M | ($7.4M) | $101.4M |
| CASH AND CASH EQUIVALENTS, AND RESTRICTED CASH, BEGINNING OF PERIOD | $1.6B | $1.6B | $2.1B | $2.1B |
| CASH AND CASH EQUIVALENTS, AND RESTRICTED CASH, END OF PERIOD | $1.9B | $1.7B | $2.1B | $2.2B |
| CASH PAID FOR INCOME TAXES (NET OF REFUNDS OF $9.2 AND $6.6, RESPECTIVELY) | $163.2M | $44.3M | $171.8M | $131.4M |
| CASH PAID FOR INTEREST | $789.4M | $434.8M | $1.1B | $684.2M |
| Purchases of property and equipment under finance leases and perpetual easements | $12.4M | $4.1M | $19.5M | $6.7M |
| Decrease in accounts payable and accrued expenses for purchases of property and equipment and construction activities | ($200.0K) | ($13.6M) | ($1.7M) | ($11.4M) |
| Seller financed acquisition | $0 | — | $5.0M | $5.0M |
American Tower Corp score and earnings-call analysis · All covered companies
Figures as reported in SEC filings. General information, not investment advice.