Remaining payable on asset acquisition

AMERICAN TOWER CORPORATION AND SUBSIDIARIESNOTES TO CONSOLIDATED AND CONDENSED CONSOLIDATED FINANCIAL STATEMENTS(tabular amounts in millions, unless otherwise noted)Other Acquisitions—During the nine months ended September 30, 2022, the Company acquired a total of 258 communications sites, as well as other communications infrastructure assets, in the United States, Canada, France, Mexico, Nigeria and Poland, including 208 communications sites in connection with the Company’s agreement with Orange S.A. (“Orange”), as further described below, for an aggregate purchase price of $174.2 million. Of the aggregate purchase price, $11.6 million is reflected as a payable in the consolidated balance sheet as of September 30, 2022. These acquisitions were accounted for as asset acquisitions.The following table summarizes the allocations of the purchase prices for the fiscal year 2022 acquisitions based upon their estimated fair value at the date of acquisition:

|  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |
|  |  | Other |
| Current assets |  | $ | 33.3  |  |
|  |  |  |
| Property and equipment |  | 113.6  |  |
| Intangible assets (1): |  |  |
|      Tenant-related intangible assets |  | 143.7  |  |
|      Network location intangible assets |  | 18.8  |  |
|      Other intangible assets |  | —  |  |
| Other non-current assets |  | 18.7  |  |
| Current liabilities |  | (1.1) |  |
| Deferred tax liability |  | —  |  |
| Other non-current liabilities |  | (24.0) |  |
| Net assets acquired |  | 303.0  |  |
| Goodwill  |  | —  |  |
| Fair value of net assets acquired |  | 303.0  |  |
|  |  |  |
|  |  |  |
| Purchase price |  | $ | 303.0  |  |

\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_(1)Tenant-related intangible assets and network location intangible assets are amortized on a straight-line basis over the estimated useful lives of the assets. Other Signed AcquisitionsOrange Acquisition—On November 28, 2019, the Company entered into definitive agreements with Orange for the acquisition of up to approximately 2,000 communications sites in France over a period of up to five years for total consideration in the range of approximately 500.0 million EUR to 600.0 million EUR (approximately $550.5 million to $660.5 million at the date of signing) to be paid over the five-year term. In addition to the 208 communications sites acquired during the nine months ended September 30, 2022, the Company acquired 1,197 of these communications sites during the years ended December 31, 2020 and 2021. Subsequent to September 30, 2022, the Company completed the acquisition of an additional 75 of these communications sites. The remaining communications sites are expected to continue to close in tranches, subject to customary closing conditions.2021 TransactionsTelxius Acquisition—On January 13, 2021, the Company entered into two agreements with Telxius Telecom, S.A. (“Telxius”), a subsidiary of Telefónica, S.A., pursuant to which the Company agreed to acquire Telxius’ European and Latin American tower divisions, comprising approximately 31,000 communications sites in Argentina, Brazil, Chile, Germany, Peru and Spain, for approximately 7.7 billion EUR (approximately $9.4 billion at the date of signing) (the “Telxius Acquisition”), subject to certain adjustments. In June 2021, the Company completed the acquisition of nearly 20,000 communications sites in Germany and Spain, for total consideration of approximately 6.3 billion EUR (approximately $7.7 billion at the date of closing), subject to certain post-closing adjustments and over 7,000 communications sites in Brazil, Peru, Chile and Argentina, for total consideration of approximately 0.9 billion EUR (approximately $1.1 billion at the date of closing), subject to certain post-closing adjustments. On August 2, 2021, the Company completed the acquisition of the approximately 4,000 remaining communications sites in Germany pursuant to the Telxius Acquisition for 0.6 billion EUR (approximately $0.7 billion at the date of closing). Of the aggregate purchase price, 255.5 million EUR (approximately $250.5 million), including post-closing adjustments, of deferred payments are due in September 2025 and are reflected in Other non-current liabilities in the consolidated 26
