CROWN CASTLE INC

For the period ended Dec 31, 2023. Filed Feb 23, 2024.

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FY2023 · Filed Feb 23, 2024

CCI$89.35+1.7%Stored close · as of Nov 10, 2026

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Contents

Consolidated Balance Sheet as of December 31,

(In millions of dollars, except par values)

	December 31,
	2023	2022
ASSETS
Current assets:
Cash and cash equivalents	$105	$156
Restricted cash and cash equivalents	171	166
Receivables, net of allowance of $19 and $19, respectively	481	593
Prepaid expenses	103	102
Current portion of deferred site rental receivables	116	127
Other current assets	56	73
Total current assets	1,032	1,217
Deferred site rental receivables	2,239	1,954
Property and equipment, net	15,666	15,407
Operating lease right-of-use assets	6,187	6,526
Goodwill	10,085	10,085
Site rental contracts and tenant relationships, net	3,122	3,535
Other intangible assets, net	57	61
Other assets, net	139	136
Total assets	$38,527	$38,921
LIABILITIES AND EQUITY
Current liabilities:
Accounts payable	$252	$236
Accrued interest	219	183
Deferred revenues	605	736
Other accrued liabilities	342	407
Current maturities of debt and other obligations	835	819
Current portion of operating lease liabilities	332	350
Total current liabilities	2,585	2,731
Debt and other long-term obligations	22,086	20,910
Operating lease liabilities	5,561	5,881
Other long-term liabilities	1,914	1,950
Total liabilities	32,146	31,472
Commitments and contingencies (see note 12)
CCI stockholders' equity:
Common stock, $0.01 par value; 1,200 shares authorized; shares issued and outstanding: December 31, 2023—434 and December 31, 2022—433	4	4
Additional paid-in capital	18,270	18,116
Accumulated other comprehensive income (loss)	(4)	(5)
Dividends/distributions in excess of earnings	(11,889)	(10,666)
Total equity	6,381	7,449
Total liabilities and equity	$38,527	$38,921

CONSOLIDATED STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)

(In millions of dollars, except per share amounts)

	Years Ended December 31,
	2023	2022	2021
Net revenues:
Site rental	$6,532	$6,289	$5,719
Services and other	449	697	621
Net revenues	6,981	6,986	6,340
Operating expenses:
Costs of operations:(a)
Site rental	1,664	1,602	1,554
Services and other	316	466	439
Selling, general and administrative	759	750	680
Asset write-down charges	33	34	21
Acquisition and integration costs	1	2	1
Depreciation, amortization and accretion	1,754	1,707	1,644
Restructuring charges	85	—	—
Total operating expenses	4,612	4,561	4,339
Operating income (loss)	2,369	2,425	2,001
Interest expense and amortization of deferred financing costs, net	(850)	(699)	(657)
Gains (losses) on retirement of long-term obligations	—	(28)	(145)
Interest income	15	3	1
Other income (expense)	(6)	(10)	(21)
Income (loss) from continuing operations before income taxes	1,528	1,691	1,179
Benefit (provision) for income taxes	(26)	(16)	(21)
Income (loss) from continuing operations	1,502	1,675	1,158
Discontinued operations (see note 9):
Net gain (loss) from disposal of discontinued operations, net of tax	—	—	(62)
Income (loss) from discontinued operations, net of tax	—	—	(62)
Net income (loss)	$1,502	$1,675	$1,096
Other comprehensive income (loss):
Foreign currency translation adjustments	1	(1)	—
Total other comprehensive income (loss)	1	(1)	—
Comprehensive income (loss)	$1,503	$1,674	$1,096
Net income (loss), per common share:
Income (loss) from continuing operations, basic	$3.46	$3.87	$2.68
Income (loss) from discontinued operations, basic	—	—	(0.14)
Net income (loss)—basic	$3.46	$3.87	$2.54
Income (loss) from continuing operations, diluted	$3.46	$3.86	$2.67
Income (loss) from discontinued operations, diluted	—	—	(0.14)
Net income (loss)—diluted	$3.46	$3.86	$2.53
Weighted-average common shares outstanding:
Basic	434	433	432
Diluted	434	434	434

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