Less amounts representing interest

AMERICAN TOWER CORPORATION AND SUBSIDIARIESNOTES TO CONSOLIDATED AND CONDENSED CONSOLIDATED FINANCIAL STATEMENTS(tabular amounts in millions, unless otherwise noted)

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  | Three Months Ended September 30, |  | Nine Months Ended September 30, |
|  |  | 2022 |  | 2021 |  | 2022 |  | 2021 |
| Operating lease cost |  | $ | 309.1  |  |  | $ | 295.6  |  |  | $ | 919.8  |  |  | $ | 815.3  |  |
| Variable lease costs not included in lease liability (1) |  | 92.3  |  |  | 94.3  |  |  | 290.0  |  |  | 248.7  |  |

\_\_\_\_\_\_\_\_\_\_\_\_\_\_(1)Includes property tax paid on behalf of the landlord. Supplemental cash flow information is as follows:

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  | Nine Months Ended September 30, |
|  |  | 2022 |  | 2021 |
| Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |
| Operating cash flows from operating leases |  | $ | (916.0) |  |  | $ | (798.2) |  |
|  |  |  |  |  |
|  |  |  |  |  |
|  |  |  |  |  |
| Non-cash items: |  |  |  |  |
| New operating leases (1) |  | $ | 289.9  |  |  | $ | 1,607.2  |  |
| Operating lease modifications and reassessments |  | $ | 114.2  |  |  | $ | 165.3  |  |

\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_(1)Amount includes new operating leases and leases acquired in connection with acquisitions. For the nine months ended September 30, 2021, includes $1.4 billion related to the Telxius Acquisition (as defined in note 14).  
As of September 30, 2022, the Company does not have material operating or financing leases that have not yet commenced. Maturities of operating lease liabilities as of September 30, 2022 were as follows: 

|  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  |  |
| Fiscal Year |  | Operating Lease (1) |  |  |
| Remainder of 2022 |  | $ | 288.8  |  |  |  |
| 2023 |  | 1,085.7  |  |  |  |
| 2024 |  | 1,031.2  |  |  |  |
| 2025 |  | 971.3  |  |  |  |
| 2026 |  | 914.8  |  |  |  |
| Thereafter  |  | 6,980.9  |  |  |  |
| Total lease payments |  | 11,272.7  |  |  |  |
| Less amounts representing interest |  | (2,940.0) |  |  |  |
| Total lease liability |  | 8,332.7  |  |  |  |
| Less current portion of lease liability |  | 766.3  |  |  |  |
| Non-current lease liability |  | $ | 7,566.4  |  |  |  |

\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_(1)Balances are translated at the applicable period-end exchange rate, which may impact comparability between periods.11
