Common stock, shares authorized (in shares)

  


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| PART I. | FINANCIAL INFORMATION |



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| ITEM 1. | UNAUDITED CONSOLIDATED AND CONDENSED CONSOLIDATED FINANCIAL STATEMENTS |

AMERICAN TOWER CORPORATION AND SUBSIDIARIESCONSOLIDATED BALANCE SHEETS (in millions, except share count and per share data)

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|  |  | September 30, 2022 |  | December 31, 2021 |
| ASSETS  |  |  |  |  |
| CURRENT ASSETS: |  |  |  |  |
| Cash and cash equivalents |  | $ | 2,121.8  |  |  | $ | 1,949.9  |  |
| Restricted cash |  | 127.8  |  |  | 393.4  |  |
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| Accounts receivable, net |  | 722.4  |  |  | 728.9  |  |
| Prepaid and other current assets |  | 787.0  |  |  | 657.2  |  |
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| Total current assets |  | 3,759.0  |  |  | 3,729.4  |  |
| PROPERTY AND EQUIPMENT, net |  | 19,402.6  |  |  | 19,784.0  |  |
| GOODWILL |  | 12,686.2  |  |  | 13,350.1  |  |
| OTHER INTANGIBLE ASSETS, net |  | 18,320.3  |  |  | 20,727.2  |  |
| DEFERRED TAX ASSET |  | 116.4  |  |  | 131.6  |  |
| DEFERRED RENT ASSET |  | 2,878.0  |  |  | 2,539.6  |  |
| RIGHT-OF-USE ASSET |  | 8,857.5  |  |  | 9,225.1  |  |
| NOTES RECEIVABLE AND OTHER NON-CURRENT ASSETS |  | 492.8  |  |  | 400.9  |  |
| TOTAL |  | $ | 66,512.8  |  |  | $ | 69,887.9  |  |
| LIABILITIES |  |  |  |  |
| CURRENT LIABILITIES: |  |  |  |  |
| Accounts payable |  | $ | 212.0  |  |  | $ | 272.4  |  |
| Accrued expenses |  | 1,202.7  |  |  | 1,412.8  |  |
| Distributions payable |  | 697.1  |  |  | 642.1  |  |
| Accrued interest |  | 199.5  |  |  | 254.7  |  |
| Current portion of operating lease liability |  | 766.3  |  |  | 712.6  |  |
| Current portion of long-term obligations |  | 3,015.2  |  |  | 4,568.7  |  |
| Unearned revenue |  | 529.8  |  |  | 1,204.0  |  |
| Total current liabilities |  | 6,622.6  |  |  | 9,067.3  |  |
| LONG-TERM OBLIGATIONS |  | 35,313.9  |  |  | 38,685.5  |  |
| OPERATING LEASE LIABILITY |  | 7,566.4  |  |  | 8,041.8  |  |
| ASSET RETIREMENT OBLIGATIONS |  | 2,010.2  |  |  | 2,003.0  |  |
| DEFERRED TAX LIABILITY |  | 1,496.8  |  |  | 1,830.9  |  |
| OTHER NON-CURRENT LIABILITIES |  | 1,184.3  |  |  | 1,189.8  |  |
| Total liabilities |  | 54,194.2  |  |  | 60,818.3  |  |
| COMMITMENTS AND CONTINGENCIES |  |  |  |  |
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| EQUITY (shares in thousands): |  |  |  |  |
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| Common stock: $.01 par value; 1,000,000 shares authorized; 476,517 and 466,687 shares issued; and 465,602 and 455,772 shares outstanding, respectively |  | 4.8  |  |  | 4.7  |  |
| Additional paid-in capital |  | 14,646.9  |  |  | 12,240.2  |  |
| Distributions in excess of earnings |  | (689.3) |  |  | (1,142.4) |  |
| Accumulated other comprehensive loss |  | (6,398.2) |  |  | (4,738.9) |  |
| Treasury stock (10,915 shares at cost) |  | (1,282.4) |  |  | (1,282.4) |  |
| Total American Tower Corporation equity |  | 6,281.8  |  |  | 5,081.2  |  |
| Noncontrolling interests |  | 6,036.8  |  |  | 3,988.4  |  |
| Total equity |  | 12,318.6  |  |  | 9,069.6  |  |
| TOTAL |  | $ | 66,512.8  |  |  | $ | 69,887.9  |  |

See accompanying notes to unaudited consolidated and condensed consolidated financial statements.1
