0001053507-25-000025 | 10-K | XBRL Viewer

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INCOME TAXES - Net Operating Loss Carryforwards Expire (Details) $ in Millions	Dec. 31, 2024 USD ($)
Federal
Operating Loss Carryforwards [Line Items]
2025 to 2029	$ 0.0
2030 to 2034	0.7
2035 to 2039	66.1
2040 to 2044	0.0
Indefinite carryforward	331.0
Total	397.8
State
Operating Loss Carryforwards [Line Items]
2025 to 2029	168.7
2030 to 2034	44.0
2035 to 2039	168.0
2040 to 2044	79.6
Indefinite carryforward	68.6
Total	528.9
Foreign
Operating Loss Carryforwards [Line Items]
2025 to 2029	0.7
2030 to 2034	4.3
2035 to 2039	0.3
2040 to 2044	8.4
Indefinite carryforward	658.2
Total	$ 671.9

BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Cash, Cash Equivalents, And Restricted Cash (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Cash and cash equivalents	$ 1,999.6	$ 1,753.7	$ 1,548.9
Restricted cash	108.6	119.7	111.1
Cash and cash equivalents included in assets of discontinued operations	0.0	219.6	479.5
Restricted cash included in assets of discontinued operations	0.0	0.4	1.2
Total cash, cash equivalents and restricted cash	$ 2,108.2	$ 2,093.4	$ 2,140.7	$ 2,343.3

ACCRUED EXPENSES (Tables)

12 Months Ended

Dec. 31, 2024

Accrued Liabilities, Current [Abstract]

Schedule of Accrued Expenses

Accrued expenses consisted of the following:


	As of
	December 31, 2024		December 31, 2023
Accrued construction costs	$	166.7	$	180.0
Accrued income tax payable	20.6		16.3
Accrued pass-through costs	56.8		34.0
Amounts payable for acquisitions (1)	106.4		27.7
Amounts payable to tenants	74.7		102.5
Accrued property and real estate taxes	199.3		194.9
Accrued rent	54.7		51.8

Payroll and related withholdings	129.6		134.0
Other accrued expenses	273.2		311.6

Accrued expenses	$	1,082.0	$	1,052.8

_______________

(1)As of December 31, 2024 includes $94.9 million of deferred payments, including post-closing adjustments, associated with the Telxius Acquisition due in 2025.

SUBSEQUENT EVENTS (Details) R in Billions		3 Months Ended
SUBSEQUENT EVENTS (Details) R in Billions	Jan. 14, 2025 USD ($)	Mar. 31, 2025 USD ($) subsidiary	Mar. 31, 2025 ZAR (R)	Jan. 15, 2025 USD ($)	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)
Subsequent Event \| Disposal Group, Disposed of by Sale, Not Discontinued Operations \| South Africa Fiber \| Forecast
Subsequent Event [Line Items]
Number of subsidiaries disposed \| subsidiary		1
Total consideration		$ 132,700,000	R 2.5
American Tower Corporation
Subsequent Event [Line Items]
Debt outstanding					$ 34,174,900,000	$ 36,472,000,000
American Tower Corporation \| 2.950% Notes \| Senior Notes
Subsequent Event [Line Items]
Debt interest rate (as a percent)					2.95%
Debt outstanding					$ 650,000,000.0	$ 648,200,000
American Tower Corporation \| 2.950% Notes \| Senior Notes \| Subsequent Event
Subsequent Event [Line Items]
Debt repaid	$ 650,000,000
Debt outstanding				$ 0

ACQUISITIONS (Tables)

12 Months Ended

Dec. 31, 2024

Business Combinations [Abstract]

Schedule of Merger and Acquisition Related Costs

During the years ended December 31, 2024, 2023 and 2022, the Company recorded acquisition, disposition and merger related expenses for business combinations, dispositions and non-capitalized asset acquisition costs and integration costs as follows:


	Year Ended December 31,
	2024		2023		2022
Acquisition, disposition and merger related expenses	$	3.3	$	16.9	$	57.0
Integration costs	$	8.9	$	16.3	$	45.0

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following table summarizes the allocations of the purchase prices for the fiscal year 2024 acquisitions based upon their estimated fair value at the date of acquisition:


	Other
Current assets	$	2.7

Property and equipment	24.5
Intangible assets (1):
Tenant-related intangible assets	18.2
Network location intangible assets	4.6

Other non-current assets	3.3
Current liabilities	(0.5)

Other non-current liabilities	(1.3)
Net assets acquired	51.5

Fair value of net assets acquired	51.5


Purchase price	$	51.5

______________

(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.

SUPPLEMENTAL CASH FLOW INFORMATION (Details) $ in Millions	12 Months Ended
SUPPLEMENTAL CASH FLOW INFORMATION (Details) $ in Millions	Dec. 31, 2024 USD ($) tower	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Supplemental cash flow information:
Cash paid for interest	$ 1,424.3	$ 1,260.0	$ 1,088.6
Cash paid for income taxes (net of refunds of $31.8, $31.5 and $33.9, respectively)	350.8	306.5	322.3
Tax refunds	31.8	31.5	33.9
Non-cash investing and financing activities:
(Decrease) increase in accounts payable and accrued expenses for purchases of property and equipment and construction activities	(2.9)	(14.7)	27.2
Purchases of property and equipment under finance leases, perpetual easements and capital leases	21.7	31.5	33.6
Settlement of third-party debt	0.0	0.0	(7.4)
Distributions to noncontrolling interest holders	(49.9)	0.0	0.0
Contributions from noncontrolling interest holders	49.9	0.0	0.0
Contribution to equity method investment	14.6	0.0	0.0
Transfer of tower sites	$ 35.8	$ 0.0	$ 0.0
Number of towers received \| tower	575

PREPAID AND OTHER CURRENT ASSETS

12 Months Ended

Dec. 31, 2024

Prepaid Expense and Other Assets, Current [Abstract]

PREPAID AND OTHER CURRENT ASSETS

Prepaid and other current assets consisted of the following:


	As of
	December 31, 2024		December 31, 2023
Prepaid assets	$	82.6	$	90.7
Prepaid income tax	77.2		62.7
Unbilled receivables	189.3		185.9
Value added tax and other consumption tax receivables	55.5		79.8
Other miscellaneous current assets	126.0		140.4
Prepaid and other current assets	$	530.6	$	559.5

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
CURRENT ASSETS:
Cash and cash equivalents	$ 1,999.6	$ 1,753.7
Restricted cash	108.6	119.7
Accounts receivable, net	540.0	547.5
Prepaid and other current assets	530.6	559.5
Current assets of discontinued operations	0.0	729.6
Total current assets	3,178.8	3,710.0
PROPERTY AND EQUIPMENT, net	19,056.8	18,863.2
GOODWILL	11,768.1	12,083.5
OTHER INTANGIBLE ASSETS, net	14,474.3	15,932.3
DEFERRED TAX ASSET	122.7	179.1
DEFERRED RENT ASSET	3,710.2	3,478.2
RIGHT-OF-USE ASSET	8,089.6	8,205.1
NOTES RECEIVABLE AND OTHER NON-CURRENT ASSETS	676.9	755.3
NON-CURRENT ASSETS OF DISCONTINUED OPERATIONS	0.0	2,820.9
TOTAL	61,077.4	66,027.6
CURRENT LIABILITIES:
Accounts payable	240.8	251.3
Accrued expenses	1,082.0	1,052.8
Distributions payable	780.3	906.2
Accrued interest	373.6	384.2
Current portion of operating lease liability	576.7	690.4
Current portion of long-term obligations	3,693.0	3,067.3
Unearned revenue	329.2	433.8
Current liabilities of discontinued operations	0.0	463.3
Total current liabilities	7,075.6	7,249.3
LONG-TERM OBLIGATIONS	32,808.8	35,734.0
OPERATING LEASE LIABILITY	6,875.6	6,815.3
ASSET RETIREMENT OBLIGATIONS	2,393.8	2,080.0
DEFERRED TAX LIABILITY	1,262.0	1,310.6
OTHER NON-CURRENT LIABILITIES	1,012.9	1,149.8
NON-CURRENT LIABILITIES OF DISCONTINUED OPERATIONS	0.0	823.2
Total liabilities	51,428.7	55,162.2
COMMITMENTS AND CONTINGENCIES
EQUITY (shares in thousands):
Common stock: $0.01 par value; 1,000,000 shares authorized; 478,388 and 477,300 shares issued; and 467,384 and 466,296 shares outstanding, respectively	4.8	4.8
Additional paid-in capital	15,057.3	14,872.9
Distributions in excess of earnings	(4,424.1)	(3,638.8)
Accumulated other comprehensive loss	(5,954.6)	(5,739.5)
Treasury stock (11,004 shares at cost)	(1,301.2)	(1,301.2)
Total American Tower Corporation equity	3,382.2	4,198.2
Noncontrolling interests	6,266.5	6,667.2
Total equity	9,648.7	10,865.4
TOTAL	$ 61,077.4	$ 66,027.6

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Statement of Comprehensive Income [Abstract]
Net income	$ 2,280.2	$ 1,367.1	$ 1,696.7
Other comprehensive (loss) income:
Reclassification of cumulative translation adjustments associated with the sale of ATC TIPL	1,072.3	0.0	0.0
Foreign currency translation adjustments, net of tax (benefit) expense of $(0.8), $0.3, and $(0.8), respectively.	(1,521.5)	60.2	(1,165.0)
Other comprehensive (loss) income	(449.2)	60.2	(1,165.0)
Comprehensive income	1,831.0	1,427.3	531.7
Comprehensive loss attributable to noncontrolling interests	208.9	34.8	254.7
Comprehensive income attributable to American Tower Corporation stockholders	$ 2,039.9	$ 1,462.1	$ 786.4

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners.

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Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income (loss) and other comprehensive income (loss), attributable to noncontrolling interests. Excludes changes in equity resulting from investments by owners and distributions to owners.

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+ Details

BUSINESS SEGMENTS

12 Months Ended

Dec. 31, 2024

Segment Reporting [Abstract]

BUSINESS SEGMENTS

Property

During the fourth quarter of 2024, following recent divestitures, including the ATC TIPL Transaction, and changes to its organizational structure, the Company reviewed and changed its operating and reportable segments. The Company’s Asia-Pacific (“APAC”) property segment and Africa property segment were combined into the Africa & APAC property segment. As a result, the Company now has six reportable segments: U.S. & Canada property (which includes all assets in the United States and Canada, other than the Company’s data center facilities and related assets), Africa & APAC property, Europe property, Latin America property, Data Centers and Services. The change in operating and reportable segments had no impact on the Company’s consolidated financial statements for any periods. Historical financial information included in this Annual Report on Form 10-K has been adjusted to reflect the change in reportable segments.

Prior to the change in reportable segments in the fourth quarter of 2024, the Company reported its results in seven segments: U.S. & Canada property, Asia-Pacific property, Africa property, Europe property, Latin America property, Data Centers and Services.

Communications Sites and Related Communications Infrastructure—The Company’s primary business is leasing space on multitenant communications sites to wireless service providers, radio and television broadcast companies, wireless data providers, government agencies and municipalities and tenants in a number of other industries. The Company has historically reported these operations on a geographic basis.

Data Centers— The Company operates 29 data center facilities across ten markets in the United States. The Company’s Data Centers segment relates to data center facilities and related assets that the Company owns and operates in the United States. The Data Centers segment offers different types of leased land and related services from, and requires different resources, skill sets and marketing strategies than the existing property operating segment in the U.S. & Canada.

As of December 31, 2024, the Company’s property operations consisted of the following:

•U.S. & Canada: property operations in Canada and the United States;

•Africa & APAC: property operations in Bangladesh, Burkina Faso, Ghana, Kenya, Niger, Nigeria, the Philippines, South Africa and Uganda;

•Europe: property operations in France, Germany and Spain;

•Latin America: property operations in Argentina, Brazil, Chile, Colombia, Costa Rica, Mexico, Paraguay and Peru; and

•Data Centers: data center property operations in the United States.

Services—The Company’s Services segment offers tower-related services in the United States, including AZP, structural and mount analyses, and construction management, which primarily support its site leasing business, including the addition of new tenants and equipment on its communications sites. The Services segment is a strategic business unit that offers different services from, and requires different resources, skill sets and marketing strategies than, the property operating segments.

The accounting policies applied in compiling segment information below are similar to those described in note 1. Among other factors, in evaluating financial performance in each business segment, management uses segment gross margin and segment operating profit. The Company defines segment gross margin as segment revenue less segment operating expenses excluding Depreciation, amortization and accretion; Selling, general, administrative and development expense; and Other operating expenses. The Company defines segment operating profit as segment gross margin less Selling, general, administrative and development expense attributable to the segment, excluding stock-based compensation expense and corporate expenses. These measures of segment gross margin and segment operating profit are also before Interest income, Interest expense, Gain (loss) on retirement of long-term obligations, Other income (expense), Net income (loss) attributable to noncontrolling interests and Income tax benefit (provision). The categories of expenses indicated above, such as depreciation, have been excluded from segment operating performance as they are not considered in the review of information or the evaluation of results by management. The Company’s definition of segment operating profit aligns with the Company’s definition of Adjusted EBITDA. Adjusted EBITDA is widely used in the telecommunications real estate sector to measure operating performance as depreciation, amortization and accretion may vary significantly among companies depending upon accounting methods and useful lives, particularly where acquisitions and non-operating factors are involved.

The Company’s chief operating decision maker (the “CODM”) is the Company’s chief executive officer. The CODM uses segment gross margin and segment operating profit to evaluate the segments’ operating performance, in making capital allocation decisions, and in establishing management’s compensation. Additionally, the CODM uses these metrics to monitor

budget versus actual results. There are no significant revenues resulting from transactions between the Company’s operating segments. All intercompany transactions are eliminated to reconcile segment results and assets to the consolidated statements of operations and consolidated balance sheets.

Summarized financial information concerning the Company’s reportable segments for the years ended December 31, 2024, 2023 and 2022 is shown in the following tables. The “Other” column (i) represents amounts excluded from specific segments, such as business development operations, stock-based compensation expense and corporate expenses included in Selling, general, administrative and development expense; Other operating expenses; Interest income; Interest expense; Gain (loss) on retirement of long-term obligations; and Other income (expense), and (ii) reconciles segment operating profit to Income from continuing operations before income taxes.


	Property										Total Property		Services		Other		Total
Year ended December 31, 2024	U.S. & Canada		Africa & APAC (1)		Europe		Latin America		Data Centers
Segment revenues	$	5,248.1	$	1,208.0	$	834.7	$	1,717.9	$	924.8	$	9,933.5	$	193.7			$	10,127.2
Segment operating expenses	870.9		380.5		309.4		530.2		390.8		2,481.8		92.6				2,574.4
Segment gross margin	4,377.2		827.5		525.3		1,187.7		534.0		7,451.7		101.1				7,552.8
Segment selling, general, administrative and development expense (2)	161.1		68.0		64.8		111.0		78.8		483.7		21.0				504.7
Segment operating profit	$	4,216.1	$	759.5	$	460.5	$	1,076.7	$	455.2	$	6,968.0	$	80.1			$	7,048.1
Stock-based compensation expense															$	192.7	192.7
Other selling, general, administrative and development expense															236.0		236.0
Depreciation, amortization and accretion															2,028.8		2,028.8
Other expense (3)															965.8		965.8
Income from continuing operations before income taxes																	$	3,624.8
Capital expenditures (4) (5) (6)	$	318.6	$	260.9	$	249.6	$	174.2	$	545.0	$	1,548.3	$	—	$	67.5	$	1,615.8

_______________

(1)Excludes the operating results of ATC TIPL, which are reported as discontinued operations. See note 22 for further discussion.

(2)Segment selling, general, administrative and development expenses exclude stock-based compensation expense of $192.7 million.

(3)Primarily includes interest expense and $68.6 million in impairment charges, as further discussed in note 16, partially offset by gains from foreign currency exchange rate fluctuations and an unrealized gain from equity securities of $70.4 million. The year ended December 31, 2024 also includes a net gain of $8.5 million on the sales of ATC Australia and ATC New Zealand.

(4)Includes $4.7 million of finance lease payments included in Repayments of notes payable, credit facilities, term loans, senior notes, secured debt and finance leases in the cash flows from financing activities in the Company’s consolidated statements of cash flows.

(5)Includes $32.7 million of perpetual land easement payments reported in Deferred financing costs and other financing activities in the cash flows from financing activities in the Company’s consolidated statements of cash flows.

(6)Other capital expenditures includes capital expenditures associated with discontinued operations.


	Property								Total Property		Services		Other		Total
Year ended December 31, 2023	U.S. & Canada		Africa & APAC (1)		Europe		Latin America										Data Centers
Segment revenues	$	5,216.2	$	1,244.4	$	775.6	$	1,798.3	$	834.7	$	9,869.2	$	143.0				$	10,012.2
Segment operating expenses	849.9		438.4		299.5		566.0		347.6		2,501.4		60.1					2,561.5

Segment gross margin	4,366.3		806.0		476.1		1,232.3		487.1		7,367.8		82.9					7,450.7
Segment selling, general, administrative and development expense (2)	165.1		87.3		65.6		107.9		72.4		498.3		22.9					521.2
Segment operating profit	$	4,201.2	$	718.7	$	410.5	$	1,124.4	$	414.7	$	6,869.5	$	60.0				$	6,929.5
Stock-based compensation expense															$	183.3		183.3
Other selling, general, administrative and development expense															241.5			241.5
Depreciation, amortization and accretion															2,928.5			2,928.5
Other expense (3)															2,046.9			2,046.9
Income from continuing operations before income taxes																		$	1,529.3
Capital expenditures (4) (5) (6)	$	410.6	$	435.7	$	218.0	$	205.2	$	428.1	$	1,697.6	$	—	$	132.2		$	1,829.8

_______________

(1) Excludes the operating results of ATC TIPL, which are reported as discontinued operations. See note 22 for further discussion.

(2) Segment selling, general, administrative and development expenses exclude stock-based compensation expense of $183.3 million.

(3) Primarily includes interest expense and $200.0 million in impairment charges, $80.0 million of goodwill impairment charges in Spain, as further discussed in note 5, and losses from foreign currency exchange rate fluctuations. The year ended December 31, 2023 also includes a net loss of $78.9 million on the sales of Mexico Fiber and ATC Poland.

(4) Includes $6.2 million of finance lease payments included in Repayments of notes payable, credit facilities, term loans, senior notes, secured debt and finance leases in the cash flows from financing activities in the Company’s consolidated statements of cash flows.

(5) Includes $38.7 million of perpetual land easement payments reported in Deferred financing costs and other financing activities in the cash flows from financing activities in the Company’s consolidated statements of cash flows.

(6) Other capital expenditures includes capital expenditures associated with discontinued operations.


	Property										Total Property			Services			Other			Total
Year ended December 31, 2022	U.S. & Canada		Africa & APAC (1)		Europe		Latin America		Data Centers
Segment revenues	$	5,006.3	$	1,203.8	$	735.7	$	1,691.9	$	766.6		$	9,404.3		$	241.1					$	9,645.4
Segment operating expenses	845.4		448.1		319.6		526.7		322.0			2,461.8			107.4						2,569.2

Segment gross margin	4,160.9		755.7		416.1		1,165.2		444.6			6,942.5			133.7						7,076.2
Segment selling, general, administrative and development expense (2)	183.2		86.5		52.4		107.6		63.9			493.6			22.3						515.9
Segment operating profit	$	3,977.7	$	669.2	$	363.7	$	1,057.6	$	380.7		$	6,448.9		$	111.4					$	6,560.3
Stock-based compensation expense																		$	161.7		161.7
Other selling, general, administrative and development expense																		224.5			224.5
Depreciation, amortization and accretion																		3,164.9			3,164.9
Other expense (3)																		923.2			923.2
Income from continuing operations before income taxes																					$	2,086.0
Capital expenditures (4) (5) (6)	$	481.7	$	536.1	$	165.7	$	229.4	$	353.7		$	1,766.6		$	—		$	135.9		$	1,902.5

_______________

(1)Excludes the operating results of ATC TIPL, which are reported as discontinued operations. See note 22 for further discussion.

(2) Segment selling, general, administrative and development expenses exclude stock-based compensation expense of $161.7 million.

(3) Primarily includes interest expense and $147.3 million in impairment charges, partially offset by gains from foreign currency exchange rate fluctuations.

(4) Includes $6.7 million of finance lease payments included in Repayments of notes payable, credit facilities, term loans, senior notes, secured debt and finance leases in the cash flows from financing activities in the Company’s consolidated statements of cash flows.

(5) Includes $36.7 million of perpetual land easement payments reported in Deferred financing costs and other financing activities in the cash flows from financing activities in the Company’s consolidated statements of cash flows.

(6) Other capital expenditures includes capital expenditures associated with discontinued operations.

Additional information relating to the total assets of the Company’s operating segments is as follows for the years ended December 31,:


	2024		2023
Total Assets (1):
U.S. & Canada property	$	26,750.1	$	26,325.1
Africa & APAC property	3,993.1		4,238.8
Europe property	11,267.2		11,769.3
Latin America property	7,470.7		9,025.3
Data Centers	10,431.6		10,482.9
Services	113.7		54.8
Other (2)	1,051.0		4,131.4
Total assets	$	61,077.4	$	66,027.6

_______________

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

(2)Balances include corporate assets such as cash and cash equivalents, certain tangible and intangible assets and income tax accounts that have not been allocated to specific segments. As of December 31, 2023, includes $3.6 billion of total assets of discontinued operations.

Summarized geographic information related to the Company’s operating revenues for the years ended December 31, 2024, 2023 and 2022 and long-lived assets as of December 31, 2024 and 2023 is as follows:


	2024		2023		2022
Operating Revenues:
U.S. & Canada:
Canada (1)	$	13.3	$	11.7	$	12.5
United States (2)	6,353.3		6,182.2		6,001.5
Africa & APAC (1)(3):
Australia (4)	2.6		2.6		1.8
Bangladesh	7.9		5.7		3.9
New Zealand (4)	1.6		1.6		0.3
Philippines	9.2		8.9		5.3
Burkina Faso	40.1		38.1		41.2
Ghana	126.7		128.6		144.4
Kenya	141.1		120.0		123.1
Niger	51.3		48.4		42.1
Nigeria	384.4		495.4		477.2
South Africa	174.0		157.9		164.8
Uganda	269.1		237.2		199.7
Europe (1):
France	121.7		113.4		99.6
Germany	402.2		363.6		320.0
Poland (5)	—		0.6		1.0
Spain	310.8		298.0		315.1
Latin America (1):
Argentina	36.2		43.8		39.2
Brazil	786.1		787.3		741.9
Chile	103.7		106.3		91.8
Colombia	110.4		117.0		106.1
Costa Rica	25.3		24.7		23.9
Mexico	544.9		611.8		588.9
Paraguay	16.3		16.3		15.4
Peru	95.0		91.1		84.7

Total operating revenues	$	10,127.2	$	10,012.2	$	9,645.4

_______________

(1) Balances are translated at the applicable exchange rate, which may impact comparability between periods.

(2) Balances include revenue from the Company’s Services and Data Centers segments.

(3) Excludes the operating results of ATC TIPL, which are reported as discontinued operations. See note 22 for further discussion.

(4) During the year ended December 31, 2024, the Company completed the sales of ATC Australia and ATC New Zealand.

(5) During the year ended December 31, 2023, the Company completed the sale of ATC Poland.


	2024		2023
Long-Lived Assets (1):
U.S. & Canada:
Canada (2)	$	200.5	$	214.8
United States (3)	28,214.3		28,337.4
Africa & APAC (2):
Australia	—		10.6
Bangladesh	30.2		25.3
New Zealand	—		37.5
Philippines	30.2		31.9
Burkina Faso	230.9		257.4
Ghana	244.9		269.2
Kenya	672.7		557.2
Niger	177.1		203.1
Nigeria	325.4		456.5
South Africa	327.4		337.0
Uganda	939.1		925.1
Europe (2):
France	1,265.6		1,338.8
Germany	5,429.5		5,721.2
Spain	2,834.8		3,031.6
Latin America (2):
Argentina	185.3		190.1
Brazil	1,592.1		1,996.5
Chile	510.1		575.7
Colombia	231.2		286.8
Costa Rica	106.8		105.6
Mexico	859.1		1,044.4
Paraguay	86.4		92.3
Peru	805.6		832.9
Total long-lived assets	$	45,299.2	$	46,878.9

_______________

(1) Includes Property and equipment, net, Goodwill and Other intangible assets, net.

(2) Balances are translated at the applicable period end exchange rate, which may impact comparability between periods.

(3) Balances include the Company’s data centers assets located in the United States.

The following customers within the property and services segments individually accounted for 10% or more of the Company’s consolidated operating revenues for the years ended December 31,:


	2024		2023		2022
T-Mobile	19	%	19	%	20	%
AT&T	18	%	18	%	19	%
Verizon Wireless	13	%	14	%	13	%
Telefónica	10	%	10	%	10	%

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-26B

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-15

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-42

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-40

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/280/tableOfContent

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 26
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-26

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-41

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-21

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-21

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

+ Details

BUSINESS SEGMENTS - Summarized Segment Financial Information (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2024	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Segment Reporting Information [Line Items]
Segment revenues	$ 2,547.6	$ 2,522.3	$ 2,544.7	$ 2,512.6	$ 2,456.1	$ 2,521.1	$ 2,514.6	$ 2,520.4	$ 10,127.2	$ 10,012.2	$ 9,645.4
Segment selling, general, administrative and development expense									933.4	946.0	902.1
OPERATING INCOME	$ 1,080.1	$ 1,139.2	$ 1,156.2	$ 1,141.0	$ 612.8	$ 913.0	$ 852.7	$ 747.0	4,516.5	3,125.5	2,738.6
Stock-based compensation expense									192.7	183.3	161.7
Other selling, general, administrative and development expense									236.0	241.5	224.5
Depreciation, amortization and accretion									2,028.8	2,928.5	3,164.9
Other expense									965.8	2,046.9	923.2
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES									3,624.8	1,529.3	2,086.0
Capital expenditures									1,615.8	1,829.8	1,902.5
Total impairment charges included in Other operating expense									68.6	200.0	147.3
Unrealized (losses) gains for equity securities									70.4	4.3
Goodwill impairment									0.0	80.0	0.0
Finance lease payments									4.7	6.2	6.7
Payments for perpetual land easements									32.7	38.7	36.7
ATC Australia and ATC New Zealand \| Disposal Group, Disposed of by Sale, Not Discontinued Operations
Segment Reporting Information [Line Items]
Gain (loss) on sale									8.5
Mexico Fiber \| Disposal Group, Disposed of by Sale, Not Discontinued Operations
Segment Reporting Information [Line Items]
Gain (loss) on sale										(78.9)
U.S. & Canada
Segment Reporting Information [Line Items]
Segment revenues									5,441.8	5,359.2	5,247.4
Goodwill impairment										0.0
Africa & APAC
Segment Reporting Information [Line Items]
Goodwill impairment										0.0
Europe
Segment Reporting Information [Line Items]
Segment revenues									834.7	775.6	735.7
Goodwill impairment										80.0
Latin America
Segment Reporting Information [Line Items]
Segment revenues									1,717.9	1,798.3	1,691.9
Goodwill impairment										0.0
Data Centers
Segment Reporting Information [Line Items]
Segment revenues									924.8	834.7	766.6
Goodwill impairment										0.0
Services
Segment Reporting Information [Line Items]
Goodwill impairment										0.0
Operating Segments
Segment Reporting Information [Line Items]
Segment revenues									10,127.2	10,012.2	9,645.4
Segment operating expenses									2,574.4	2,561.5	2,569.2
Segment gross margin									7,552.8	7,450.7	7,076.2
Segment selling, general, administrative and development expense									504.7	521.2	515.9
OPERATING INCOME									7,048.1	6,929.5	6,560.3
Operating Segments \| Property
Segment Reporting Information [Line Items]
Segment revenues									9,933.5	9,869.2	9,404.3
Segment operating expenses									2,481.8	2,501.4	2,461.8
Segment gross margin									7,451.7	7,367.8	6,942.5
Segment selling, general, administrative and development expense									483.7	498.3	493.6
OPERATING INCOME									6,968.0	6,869.5	6,448.9
Capital expenditures									1,548.3	1,697.6	1,766.6
Operating Segments \| U.S. & Canada
Segment Reporting Information [Line Items]
Segment revenues									5,248.1	5,216.2	5,006.3
Segment operating expenses									870.9	849.9	845.4
Segment gross margin									4,377.2	4,366.3	4,160.9
Segment selling, general, administrative and development expense									161.1	165.1	183.2
OPERATING INCOME									4,216.1	4,201.2	3,977.7
Capital expenditures									318.6	410.6	481.7
Operating Segments \| Africa & APAC
Segment Reporting Information [Line Items]
Segment revenues									1,208.0	1,244.4	1,203.8
Segment operating expenses									380.5	438.4	448.1
Segment gross margin									827.5	806.0	755.7
Segment selling, general, administrative and development expense									68.0	87.3	86.5
OPERATING INCOME									759.5	718.7	669.2
Capital expenditures									260.9	435.7	536.1
Operating Segments \| Europe
Segment Reporting Information [Line Items]
Segment revenues									834.7	775.6	735.7
Segment operating expenses									309.4	299.5	319.6
Segment gross margin									525.3	476.1	416.1
Segment selling, general, administrative and development expense									64.8	65.6	52.4
OPERATING INCOME									460.5	410.5	363.7
Capital expenditures									249.6	218.0	165.7
Operating Segments \| Latin America
Segment Reporting Information [Line Items]
Segment revenues									1,717.9	1,798.3	1,691.9
Segment operating expenses									530.2	566.0	526.7
Segment gross margin									1,187.7	1,232.3	1,165.2
Segment selling, general, administrative and development expense									111.0	107.9	107.6
OPERATING INCOME									1,076.7	1,124.4	1,057.6
Capital expenditures									174.2	205.2	229.4
Operating Segments \| Data Centers
Segment Reporting Information [Line Items]
Segment revenues									924.8	834.7	766.6
Segment operating expenses									390.8	347.6	322.0
Segment gross margin									534.0	487.1	444.6
Segment selling, general, administrative and development expense									78.8	72.4	63.9
OPERATING INCOME									455.2	414.7	380.7
Capital expenditures									545.0	428.1	353.7
Operating Segments \| Services
Segment Reporting Information [Line Items]
Segment revenues									193.7	143.0	241.1
Segment operating expenses									92.6	60.1	107.4
Segment gross margin									101.1	82.9	133.7
Segment selling, general, administrative and development expense									21.0	22.9	22.3
OPERATING INCOME									80.1	60.0	111.4
Capital expenditures									0.0	0.0	0.0
Other
Segment Reporting Information [Line Items]
Stock-based compensation expense									192.7	183.3	161.7
Other selling, general, administrative and development expense									236.0	241.5	224.5
Depreciation, amortization and accretion									2,028.8	2,928.5	3,164.9
Other expense									965.8	2,046.9	923.2
Capital expenditures									67.5	132.2	$ 135.9
Other \| Selling, General and Administrative
Segment Reporting Information [Line Items]
Stock-based compensation expense									$ 192.7	$ 183.3

BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Disaggregation of Revenue (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2024	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Disaggregation of Revenue [Line Items]
Total non-lease revenue									$ 774.6	$ 747.3	$ 840.7
Property lease revenue									9,352.6	9,264.9	8,804.7
Total revenue	$ 2,547.6	$ 2,522.3	$ 2,544.7	$ 2,512.6	$ 2,456.1	$ 2,521.1	$ 2,514.6	$ 2,520.4	10,127.2	10,012.2	9,645.4
U.S. & Canada
Disaggregation of Revenue [Line Items]
Total non-lease revenue									491.1	465.4	536.5
Property lease revenue									4,950.7	4,893.8	4,710.9
Total revenue									5,441.8	5,359.2	5,247.4
Africa & APAC
Disaggregation of Revenue [Line Items]
Total non-lease revenue									29.5	24.4	27.4
Property lease revenue									1,178.5	1,220.0	1,176.4
Total revenue									1,208.0	1,244.4	1,203.8
Europe
Disaggregation of Revenue [Line Items]
Total non-lease revenue									12.1	13.5	16.3
Property lease revenue									822.6	762.1	719.4
Total revenue									834.7	775.6	735.7
Latin America
Disaggregation of Revenue [Line Items]
Total non-lease revenue									109.2	127.5	154.5
Property lease revenue									1,608.7	1,670.8	1,537.4
Total revenue									1,717.9	1,798.3	1,691.9
Data Centers
Disaggregation of Revenue [Line Items]
Total non-lease revenue									132.7	116.5	106.0
Property lease revenue									792.1	718.2	660.6
Total revenue									924.8	834.7	766.6
Non-lease property revenue
Disaggregation of Revenue [Line Items]
Total non-lease revenue									580.9	604.3	599.6
Non-lease property revenue \| U.S. & Canada
Disaggregation of Revenue [Line Items]
Total non-lease revenue									297.4	322.4	295.4
Non-lease property revenue \| Africa & APAC
Disaggregation of Revenue [Line Items]
Total non-lease revenue									29.5	24.4	27.4
Non-lease property revenue \| Europe
Disaggregation of Revenue [Line Items]
Total non-lease revenue									12.1	13.5	16.3
Non-lease property revenue \| Latin America
Disaggregation of Revenue [Line Items]
Total non-lease revenue									109.2	127.5	154.5
Non-lease property revenue \| Data Centers
Disaggregation of Revenue [Line Items]
Total non-lease revenue									132.7	116.5	106.0
Services revenue
Disaggregation of Revenue [Line Items]
Total non-lease revenue									193.7	143.0	241.1
Services revenue \| U.S. & Canada
Disaggregation of Revenue [Line Items]
Total non-lease revenue									193.7	143.0	241.1
Services revenue \| Africa & APAC
Disaggregation of Revenue [Line Items]
Total non-lease revenue									0.0	0.0	0.0
Services revenue \| Europe
Disaggregation of Revenue [Line Items]
Total non-lease revenue									0.0	0.0	0.0
Services revenue \| Latin America
Disaggregation of Revenue [Line Items]
Total non-lease revenue									0.0	0.0	0.0
Services revenue \| Data Centers
Disaggregation of Revenue [Line Items]
Total non-lease revenue									$ 0.0	$ 0.0	$ 0.0

DISCONTINUED OPERATIONS - Cash Flow and Non-Cash Information Related to Discontinued Operations (Details) - USD ($) $ in Millions		12 Months Ended
	Sep. 12, 2024	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from the sale of ATC TIPL		$ 2,158.8	$ 0.0	$ 0.0
Significant non-cash items:
Loss on sale of ATC TIPL		1,245.5	0.0	0.0
Discontinued Operations, Disposed of by Sale \| ATC TIPL
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from the sale of ATC TIPL		2,158.8	0.0	0.0
Capital expenditures		(52.3)	(111.9)	(123.0)
Significant non-cash items:
Depreciation, amortization and accretion		96.0	158.0	190.2
Stock-based compensation expense		10.9	12.4	7.6
Impairments, net loss on sale of long-lived assets, non-cash restructuring and merger related expenses		(2.3)	318.2	500.3
(Gain) loss on investments, unrealized foreign currency (gain) loss and other non-cash expense		(30.7)	(82.5)	14.0
Loss on sale of ATC TIPL	$ 1,245.5	$ 1,245.5	$ 0.0	$ 0.0
Reclassification of cumulative translation adjustment	$ 1,072.3

INCOME TAXES - Narrative (Details) - USD ($)	12 Months Ended
INCOME TAXES - Narrative (Details) - USD ($)	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Contingency [Line Items]
Decrease in income tax provision due to reversal of valuation allowances	$ 20,500,000	$ 87,200,000
Valuation allowance	681,700,000	433,500,000	$ 335,700,000	$ 329,300,000
Unrecognized tax benefits that would impact the ETR	101,300,000	116,900,000
Increase (decrease) in unrecognized tax benefit	11,600,000
Decrease in unrecognized tax benefits, from lapse of statue of limitations and effective settlements	12,800,000	15,500,000	23,100,000
Unrecognized tax benefits, income tax penalties and interest	28,600,000	21,800,000	15,900,000
Decrease in income tax penalties and interest expense	10,400,000	9,700,000	$ 19,900,000
Unrecognized tax benefits, income tax penalties and interest accrued	58,500,000	$ 49,100,000
Minimum
Income Tax Contingency [Line Items]
Decrease in unrecognized tax benefits is reasonably possible	0
Maximum
Income Tax Contingency [Line Items]
Decrease in unrecognized tax benefits is reasonably possible	$ 20,900,000

BUSINESS SEGMENTS - Narrative (Details)	3 Months Ended	9 Months Ended	12 Months Ended
BUSINESS SEGMENTS - Narrative (Details)	Dec. 31, 2024 segment market	Sep. 30, 2024 segment	Dec. 31, 2024 dataCenter market
Business Acquisition [Line Items]
Number of reportable segments \| segment	6	7
CoreSite Acquisition
Business Acquisition [Line Items]
Number of sites acquired \| dataCenter			29
United States \| CoreSite Acquisition
Business Acquisition [Line Items]
Number of operating markets related to acquired sites \| market	10		10

BUSINESS SEGMENTS - Additional Information Relating to the Company's Operating Segments (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	$ 61,077.4	$ 66,027.6
Operating Segments \| U.S. & Canada property
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	26,750.1	26,325.1
Operating Segments \| Africa & APAC property
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	3,993.1	4,238.8
Operating Segments \| Europe property
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	11,267.2	11,769.3
Operating Segments \| Latin America property
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	7,470.7	9,025.3
Operating Segments \| Data Centers
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	10,431.6	10,482.9
Operating Segments \| Services
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	113.7	54.8
Other
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	$ 1,051.0	4,131.4
Other \| Discontinued Operations, Disposed of by Sale
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets of discontinued operations		$ 3,600.0

DISCONTINUED OPERATIONS - Narrative (Details) $ in Millions, ₨ in Billions					3 Months Ended	12 Months Ended
	Sep. 12, 2024 USD ($)	Sep. 11, 2024	Feb. 17, 2023 USD ($)	Feb. 17, 2023 INR (₨)	Sep. 30, 2023 USD ($)	Dec. 31, 2024 USD ($)	Dec. 31, 2024 INR (₨)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Sep. 12, 2024 INR (₨)	Jan. 04, 2024 USD ($)	Jan. 04, 2024 INR (₨)	Dec. 31, 2021 USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loss on sale of ATC TIPL						$ 1,245.5		$ 0.0	$ 0.0
Valuation allowance						681.7		433.5	335.7				$ 329.3
Tower And Network Locations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Impairment of intangible assets						46.3		93.7	52.6
Acquired tenant-related intangibles
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Impairment of intangible assets						13.5		$ 90.2	79.5
India Term Loan \| Unsecured Debt \| ATC TIPL
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from term loans			$ 120.7	₨ 10.0
Debt instrument, term			1 year	1 year
Subsidiaries, ATC TIPL \| International Segment Gross Margin Benchmark \| Subsidiary Concentration Risk
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Concentration risk, percentage								15.00%
Subsidiaries, ATC TIPL \| International Segment Operating Profit Benchmark \| Subsidiary Concentration Risk
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Concentration risk, percentage								15.00%
Subsidiaries, ATC TIPL \| Segment Gross Margin Benchmark \| Subsidiary Concentration Risk
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Concentration risk, percentage								6.00%
Subsidiaries, ATC TIPL \| Segment Operating Profit Benchmark \| Subsidiary Concentration Risk
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Concentration risk, percentage								5.00%
Subsidiaries, ATC TIPL \| International Communication Sites Benchmark \| Subsidiary Concentration Risk
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Concentration risk, percentage		42.00%
Subsidiaries, ATC TIPL \| Communication Sites Benchmark \| Subsidiary Concentration Risk
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Concentration risk, percentage		34.00%
Subsidiaries, ATC TIPL \| Property \| International Revenue Benchmark \| Subsidiary Concentration Risk
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Concentration risk, percentage								23.00%
Subsidiaries, ATC TIPL \| Property \| Sales Revenue, Net \| Subsidiary Concentration Risk
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Concentration risk, percentage								10.00%
Loss on Sale of Discontinued ATC TIPL
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Valuation allowance	$ 140.0
ATC TIPL
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Distribution received						354.1	₨ 29.6
Discontinued Operations, Disposed of by Sale \| ATC TIPL
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Percentage of ownership interest sold	100.00%									100.00%
Maximum consideration to be received upon disposal											$ 2,500.0	₨ 210.0
Total consideration	$ 2,158.8									₨ 182.0
Loss on sale of ATC TIPL	1,245.5					1,245.5		$ 0.0	0.0
Reclassification of cumulative translation adjustment	1,072.3
Indemnification liability related to uncertain tax positions	$ 53.9
Goodwill impairment included in discontinued operations					$ 322.0	$ 0.0		$ 322.0	0.0
Discontinued Operations, Disposed of by Sale \| ATC TIPL \| Tower And Network Locations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Impairment of intangible assets									97.0
Discontinued Operations, Disposed of by Sale \| ATC TIPL \| Acquired tenant-related intangibles
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Impairment of intangible assets									$ 411.6

SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED) (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2024	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Selected Quarterly Financial Information [Abstract]
Revenues	$ 2,547.6	$ 2,522.3	$ 2,544.7	$ 2,512.6	$ 2,456.1	$ 2,521.1	$ 2,514.6	$ 2,520.4	$ 10,127.2	$ 10,012.2	$ 9,645.4
Operating Income (Loss)	1,080.1	1,139.2	1,156.2	1,141.0	612.8	913.0	852.7	747.0	4,516.5	3,125.5	2,738.6
Net income from continuing operations attributable to American Tower common stockholders, basic	1,229.6	416.2	761.8	825.7	10.4	784.4	435.3	324.6	3,233.3	1,554.7	2,042.3
Net income from continuing operations attributable to American Tower common stockholders, diluted	1,229.6	416.2	761.8	825.7	10.4	784.4	435.3	324.6	3,233.3	1,554.7	2,042.3
Net income (loss) from discontinued operations attributable to American Tower common stockholders, basic	0.0	(1,208.5)	138.5	91.7	74.5	(197.5)	40.4	11.2	(978.3)	(71.4)	(276.5)
Net income (loss) from discontinued operations attributable to American Tower common stockholders, diluted	0.0	(1,208.5)	138.5	91.7	74.5	(197.5)	40.4	11.2	(978.3)	(71.4)	(276.5)
Net income attributable to American Tower Corporation common stockholders, diluted	1,229.6	(792.3)	900.3	917.4	84.9	586.9	475.7	335.8	2,255.0	1,483.3	1,765.8
Net income attributable to American Tower Corporation common stockholders, basic	$ 1,229.6	$ (792.3)	$ 900.3	$ 917.4	$ 84.9	$ 586.9	$ 475.7	$ 335.8	$ 2,255.0	$ 1,483.3	$ 1,765.8
Basic net income from continuing operations attributable to American Tower Corporation common stockholders (in dollars per share)	$ 2.63	$ 0.89	$ 1.63	$ 1.77	$ 0.02	$ 1.68	$ 0.93	$ 0.70	$ 6.92	$ 3.34	$ 4.43
Basic net income (loss) from discontinued operations attributable to American Tower Corporation common stockholders per common share (in dollars per share)	0	(2.59)	0.30	0.20	0.16	(0.42)	0.09	0.02	(2.09)	(0.15)	(0.60)
Basic net income attributable to American Tower Corporation common stockholders per common share (in dollars per share)	2.63	(1.70)	1.93	1.97	0.18	1.26	1.02	0.72	4.83	3.18	3.83
Diluted net income from continuing operations attributable to American Tower Corporation common stockholders (in dollars per share)	2.62	0.89	1.63	1.77	0.02	1.68	0.93	0.70	6.91	3.33	4.41
Diluted net income (loss) from discontinued operations attributable to American Tower Corporation common stockholders (in dollars per share)	0	(2.58)	0.30	0.20	0.16	(0.42)	0.09	0.02	(2.09)	(0.15)	(0.60)
Diluted net income attributable to American Tower Corporation common stockholders per common share (in dollars per share)	$ 2.62	$ (1.69)	$ 1.92	$ 1.96	$ 0.18	$ 1.26	$ 1.02	$ 0.72	$ 4.82	$ 3.18	$ 3.82

EQUITY - Distributions Declared (Details) - USD ($) $ / shares in Units, $ in Millions				3 Months Ended			12 Months Ended
	Feb. 03, 2025	Feb. 01, 2024	Feb. 02, 2023	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Dividends Payable [Line Items]
Dividends paid (in dollars per share)		$ 1.70	$ 1.56				$ 6.48	$ 6.45	$ 5.86
Aggregate payment amount on common stock							$ 3,027.3	$ 3,006.7	$ 2,715.3
Distribution per share, common stock (in dollars per share)				$ 1.62	$ 1.70	$ 1.56	$ 6.5600	$ 6.3100	$ 4.3000
Dividends declared, common stock, percent of total							100.00%	100.00%	100.00%
Subsequent Event
Dividends Payable [Line Items]
Dividends paid (in dollars per share)	$ 1.62
Ordinary dividend
Dividends Payable [Line Items]
Distribution per share, common stock (in dollars per share)							$ 6.5600	$ 6.3100	$ 4.3000
Dividends declared, common stock, percent of total							100.00%	100.00%	100.00%
Capital gains distribution
Dividends Payable [Line Items]
Distribution per share, common stock (in dollars per share)							$ 0	$ 0	$ 0
Dividends declared, common stock, percent of total							0.00%	0.00%	0.00%

OTHER NON-CURRENT LIABILITIES

12 Months Ended

Dec. 31, 2024

Other Liabilities, Noncurrent [Abstract]

OTHER NON-CURRENT LIABILITIES

Other non-current liabilities consisted of the following:


	As of
	December 31, 2024		December 31, 2023

Unearned revenue	$	520.9	$	474.9
Other miscellaneous liabilities	492.0		674.9
Other non-current liabilities	$	1,012.9	$	1,149.8

STOCK-BASED COMPENSATION - Schedule of Options Outstanding (Details)	12 Months Ended
	Dec. 31, 2024 $ / shares shares
$88.38 - $94.23
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise price per share, minimum (in dollars per share)	$ 88.38
Exercise price per share, maximum (in dollars per share)	$ 94.23
Outstanding number of options (in shares) \| shares	3,933
Weighted average exercise price per share (in dollars per share)	$ 90.86
Weighted average remaining life	7 months 9 days
Options exercisable (in shares) \| shares	3,933
Weighted average exercise price per share (in dollars per share)	$ 90.86
$94.57 - $94.71
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise price per share, minimum (in dollars per share)	94.57
Exercise price per share, maximum (in dollars per share)	$ 94.71
Outstanding number of options (in shares) \| shares	408,258
Weighted average exercise price per share (in dollars per share)	$ 94.65
Weighted average remaining life	8 months 26 days
Options exercisable (in shares) \| shares	408,258
Weighted average exercise price per share (in dollars per share)	$ 94.65
$106.15 - $113.60
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise price per share, minimum (in dollars per share)	106.15
Exercise price per share, maximum (in dollars per share)	$ 113.60
Outstanding number of options (in shares) \| shares	4,481
Weighted average exercise price per share (in dollars per share)	$ 110.80
Weighted average remaining life	1 year 9 months 7 days
Options exercisable (in shares) \| shares	4,481
Weighted average exercise price per share (in dollars per share)	$ 110.80
$88.38 - $113.60
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise price per share, minimum (in dollars per share)	88.38
Exercise price per share, maximum (in dollars per share)	$ 113.60
Outstanding number of options (in shares) \| shares	416,672
Weighted average exercise price per share (in dollars per share)	$ 94.79
Weighted average remaining life	9 months
Options exercisable (in shares) \| shares	416,672
Weighted average exercise price per share (in dollars per share)	$ 94.79

ASSET RETIREMENT OBLIGATIONS - Schedule of Carrying Value Of Asset Retirement Obligations (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward]
Beginning balance as of January 1,	$ 2,080.0	$ 1,973.0
Additions	15.5	12.0
Accretion expense	35.5	112.7
Revisions in estimates	304.1	(1.4)
Settlements	(41.3)	(16.3)
Balance as of December 31,	$ 2,393.8	$ 2,080.0

EARNINGS PER COMMON SHARE (Tables)

12 Months Ended

Dec. 31, 2024

Earnings Per Share [Abstract]

Schedule of Earnings Per Basic and Diluted by Common Class

The following table sets forth basic and diluted net income per common share computational data for the years ended December 31, (shares in thousands, except per share data):


	2024		2023		2022
Net income from continuing operations attributable to American Tower common stockholders	$	3,233.3	$	1,554.7	$	2,042.3
Net loss from discontinued operations attributable to American Tower common stockholders	(978.3)		(71.4)		(276.5)
Net income attributable to American Tower Corporation common stockholders	$	2,255.0	$	1,483.3	$	1,765.8
Basic weighted average common shares outstanding	467,011		466,063		461,519
Dilutive securities	1,109		1,099		1,231
Diluted weighted average common shares outstanding	468,120		467,162		462,750
Basic net income from continuing operations attributable to American Tower Corporation common stockholders	$	6.92	$	3.34	$	4.43
Basic net loss from discontinued operations attributable to American Tower Corporation common stockholders per common share	(2.09)		(0.15)		(0.60)
Basic net income attributable to American Tower Corporation common stockholders per common share	4.83		3.18		3.83
Diluted net income from continuing operations attributable to American Tower Corporation common stockholders	$	6.91	$	3.33	$	4.41
Diluted net loss from discontinued operations attributable to American Tower Corporation common stockholders	$	(2.09)	$	(0.15)	$	(0.60)
Diluted net income attributable to American Tower Corporation common stockholders per common share	4.82		3.18		3.82

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

The following shares were not included in the computation of diluted earnings per share because the effect would be anti-dilutive for the years ended December 31, (in thousands, on a weighted average basis):


	2024	2023	2022
Restricted stock awards	2	5	86

ACQUISITIONS - Schedule of Merger and Acquisition Related Costs (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Business Combinations [Abstract]
Acquisition, disposition and merger related expenses	$ 3.3	$ 16.9	$ 57.0
Integration costs	$ 8.9	$ 16.3	$ 45.0

FAIR VALUE MEASUREMENTS - Percentages of the Asset Class that were Subject to Fair Value Measurement and Subsequently Impaired (Details)	Dec. 31, 2024	Dec. 31, 2023
Towers and related assets
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Percentage of assets subject to fair value measurement and subsequently impaired	1.00%	1.00%
Acquired network location intangible assets
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Percentage of assets subject to fair value measurement and subsequently impaired	1.00%	1.00%
Acquired tenant-related intangible assets
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Percentage of assets subject to fair value measurement and subsequently impaired	1.00%	1.00%

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

LEASES - Future Minimum Rental Receipts Expected Under Operating Leases (Details) $ in Millions	Dec. 31, 2024 USD ($)
Leases [Abstract]
2025	$ 7,749.4
2026	7,345.2
2027	7,196.5
2028	5,888.8
2029	5,536.1
Thereafter	20,040.7
Total	$ 53,756.7

SUPPLEMENTAL CASH FLOW INFORMATION

12 Months Ended

Dec. 31, 2024

Supplemental Cash Flow Elements [Abstract]

SUPPLEMENTAL CASH FLOW INFORMATION

Supplemental cash flow information and non-cash investing and financing activities are as follows for the years ended December 31,:


	2024		2023		2022
Supplemental cash flow information:
Cash paid for interest	$	1,424.3	$	1,260.0	$	1,088.6
Cash paid for income taxes (net of refunds of $31.8, $31.5 and $33.9, respectively)	350.8		306.5		322.3
Non-cash investing and financing activities:
(Decrease) increase in accounts payable and accrued expenses for purchases of property and equipment and construction activities	(2.9)		(14.7)		27.2
Purchases of property and equipment under finance leases, perpetual easements and capital leases	21.7		31.5		33.6

Settlement of third-party debt	—		—		(7.4)
Distributions to noncontrolling interest holders	(49.9)		—		—
Contributions from noncontrolling interest holders	49.9		—		—
Contribution to equity method investment	14.6		—		—
Transfer of tower sites (1)	35.8		—		—

_______________

(1)The Company received 575 tower sites from a customer in Brazil in exchange for settling certain future contractual obligations owed to the Company in accordance with the customer’s judicial recovery plan.

INCOME TAXES - Domestic and Foreign Components Of Income From Continuing Operations Before Income Taxes (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
United States	$ 1,745.9	$ 1,371.4	$ 1,973.2
Foreign	1,878.9	157.9	112.8
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES	$ 3,624.8	$ 1,529.3	$ 2,086.0

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 48
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482785/280-10-55-48

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-30

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 270
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482964/270-10-50-1

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (ee)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 7: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(11))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477250/944-220-S99-1

Reference 9: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-31

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 235
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-05(b)(2))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477314/942-235-S99-1

Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(10))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2

Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 942
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(15))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478524/942-220-S99-1

+ Details

PREPAID AND OTHER CURRENT ASSETS (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Prepaid Expense and Other Assets, Current [Abstract]
Prepaid assets	$ 82.6	$ 90.7
Prepaid income tax	77.2	62.7
Unbilled receivables	189.3	185.9
Value added tax and other consumption tax receivables	55.5	79.8
Other miscellaneous current assets	126.0	140.4
Prepaid and other current assets	$ 530.6	$ 559.5

LONG-TERM OBLIGATIONS - Schedule of Long-Term Debt Obligations (Details) € in Millions	Dec. 31, 2024 USD ($)	Nov. 21, 2024	May 29, 2024	May 21, 2024 USD ($)	May 21, 2024 EUR (€)	May 15, 2024	Mar. 07, 2024	Feb. 14, 2024	Jan. 12, 2024	Dec. 31, 2023 USD ($)	Dec. 08, 2021 USD ($)	Sep. 27, 2021	Nov. 20, 2020	Sep. 28, 2020	Jun. 03, 2020	May 31, 2015 USD ($)
Debt Instrument [Line Items]
Finance lease obligations	$ 16,600,000									$ 20,600,000
Total	36,501,800,000									38,801,300,000
Less current portion of long-term obligations	(3,693,000,000)									(3,067,300,000)
Long-term obligations	32,808,800,000									35,734,000,000
American Tower Corporation
Debt Instrument [Line Items]
Long-term debt	34,174,900,000									36,472,000,000
American Tower Subsidiary
Debt Instrument [Line Items]
Long-term debt	$ 2,310,300,000									2,308,700,000
2021 Multicurrency Credit Facility \| Revolving Credit Facility \| American Tower Corporation
Debt Instrument [Line Items]
Debt interest rate (as a percent)	0.00%
Long-term debt	$ 0									723,400,000
2021 Term Loan \| Unsecured Debt \| American Tower Corporation
Debt Instrument [Line Items]
Debt interest rate (as a percent)	5.562%
Long-term debt	$ 997,900,000									997,000,000.0	$ 1,000,000,000
2021 Credit Facility \| Revolving Credit Facility \| American Tower Corporation
Debt Instrument [Line Items]
Debt interest rate (as a percent)	0.00%
Long-term debt	$ 0									1,603,400,000
2021 EUR Three Year Delayed Draw Term Loan \| Unsecured Debt \| American Tower Corporation
Debt Instrument [Line Items]
Long-term debt	$ 0			$ 895,500,000	€ 825					910,700,000
0.600% senior notes \| Senior Notes \| American Tower Corporation
Debt Instrument [Line Items]
Debt interest rate (as a percent)	0.60%								0.60%
Long-term debt	$ 0									500,000,000.0
5.00% senior notes \| Senior Notes \| American Tower Corporation
Debt Instrument [Line Items]
Debt interest rate (as a percent)	5.00%							5.00%
Long-term debt	$ 0									1,000,100,000
3.375% senior notes \| Senior Notes \| American Tower Corporation
Debt Instrument [Line Items]
Debt interest rate (as a percent)	3.375%					3.375%
Long-term debt	$ 0									649,700,000
2.950% senior notes \| Senior Notes \| American Tower Corporation
Debt Instrument [Line Items]
Debt interest rate (as a percent)	2.95%
Long-term debt	$ 650,000,000.0									648,200,000
2.400% senior notes \| Senior Notes \| American Tower Corporation
Debt Instrument [Line Items]
Debt interest rate (as a percent)	2.40%
Long-term debt	$ 749,700,000									748,500,000
1.375% senior notes \| Senior Notes \| American Tower Corporation
Debt Instrument [Line Items]
Debt interest rate (as a percent)	1.375%
Long-term debt	$ 517,300,000									550,000,000.0
4.000% senior notes \| Senior Notes \| American Tower Corporation
Debt Instrument [Line Items]
Debt interest rate (as a percent)	4.00%
Long-term debt	$ 749,400,000									748,100,000
1.300% senior notes \| Senior Notes \| American Tower Corporation
Debt Instrument [Line Items]
Debt interest rate (as a percent)	1.30%
Long-term debt	$ 499,300,000									498,300,000
4.400% senior notes \| Senior Notes \| American Tower Corporation
Debt Instrument [Line Items]
Debt interest rate (as a percent)	4.40%
Long-term debt	$ 499,300,000									498,700,000
1.600% senior notes \| Senior Notes \| American Tower Corporation
Debt Instrument [Line Items]
Debt interest rate (as a percent)	1.60%
Long-term debt	$ 698,500,000									697,400,000
1.950% senior notes \| Senior Notes \| American Tower Corporation
Debt Instrument [Line Items]
Debt interest rate (as a percent)	1.95%
Long-term debt	$ 516,400,000									549,600,000
1.450% senior notes \| Senior Notes \| American Tower Corporation
Debt Instrument [Line Items]
Debt interest rate (as a percent)	1.45%
Long-term debt	$ 597,400,000									595,900,000
3.375% senior notes \| Senior Notes \| American Tower Corporation
Debt Instrument [Line Items]
Debt interest rate (as a percent)	3.375%
Long-term debt	$ 996,600,000									994,700,000
3.125% senior notes \| Senior Notes \| American Tower Corporation
Debt Instrument [Line Items]
Debt interest rate (as a percent)	3.125%
Long-term debt	$ 399,300,000									398,900,000
2.750% senior notes \| Senior Notes \| American Tower Corporation
Debt Instrument [Line Items]
Debt interest rate (as a percent)	2.75%
Long-term debt	$ 748,000,000.0									747,000,000.0
0.450% senior notes \| Senior Notes \| American Tower Corporation
Debt Instrument [Line Items]
Debt interest rate (as a percent)	0.45%
Long-term debt	$ 774,100,000									824,300,000
0.400% senior notes \| Senior Notes \| American Tower Corporation
Debt Instrument [Line Items]
Debt interest rate (as a percent)	0.40%
Long-term debt	$ 515,000,000.0									548,200,000
3.650% senior notes \| Senior Notes \| American Tower Corporation
Debt Instrument [Line Items]
Debt interest rate (as a percent)	3.65%
Long-term debt	$ 646,400,000									644,800,000
4.125% senior notes \| Senior Notes \| American Tower Corporation
Debt Instrument [Line Items]
Debt interest rate (as a percent)	4.125%
Long-term debt	$ 618,500,000									658,600,000
3.55% senior notes \| Senior Notes \| American Tower Corporation
Debt Instrument [Line Items]
Debt interest rate (as a percent)	3.55%
Long-term debt	$ 747,900,000									747,100,000
3.600% senior notes \| Senior Notes \| American Tower Corporation
Debt Instrument [Line Items]
Debt interest rate (as a percent)	3.60%
Long-term debt	$ 697,000,000.0									696,000,000.0
0.500% senior notes \| Senior Notes \| American Tower Corporation
Debt Instrument [Line Items]
Debt interest rate (as a percent)	0.50%
Long-term debt	$ 772,600,000									822,800,000
1.500% senior notes \| Senior Notes \| American Tower Corporation
Debt Instrument [Line Items]
Debt interest rate (as a percent)	1.50%
Long-term debt	$ 647,800,000									647,100,000
5.500% senior notes \| Senior Notes \| American Tower Corporation
Debt Instrument [Line Items]
Debt interest rate (as a percent)	5.50%
Long-term debt	$ 695,000,000.0									693,600,000
5.250% senior notes \| Senior Notes \| American Tower Corporation
Debt Instrument [Line Items]
Debt interest rate (as a percent)	5.25%
Long-term debt	$ 645,200,000									643,900,000
5.800% senior notes \| Senior Notes \| American Tower Corporation
Debt Instrument [Line Items]
Debt interest rate (as a percent)	5.80%
Long-term debt	$ 744,600,000									743,400,000
5.200% senior notes \| Senior Notes \| American Tower Corporation
Debt Instrument [Line Items]
Debt interest rate (as a percent)	5.20%						5.20%
Long-term debt	$ 643,700,000									0
3.950% senior notes \| Senior Notes \| American Tower Corporation
Debt Instrument [Line Items]
Debt interest rate (as a percent)	3.95%
Long-term debt	$ 594,800,000									593,700,000
0.875% senior notes \| Senior Notes \| American Tower Corporation
Debt Instrument [Line Items]
Debt interest rate (as a percent)	0.875%
Long-term debt	$ 773,000,000.0									823,700,000
3.800% senior notes \| Senior Notes \| American Tower Corporation
Debt Instrument [Line Items]
Debt interest rate (as a percent)	3.80%
Long-term debt	$ 1,640,500,000									1,638,600,000
2.900% senior notes \| Senior Notes \| American Tower Corporation
Debt Instrument [Line Items]
Debt interest rate (as a percent)	2.90%
Long-term debt	$ 745,100,000									744,200,000
5.000% senior notes \| Senior Notes \| American Tower Corporation
Debt Instrument [Line Items]
Debt interest rate (as a percent)	5.00%	5.00%
Long-term debt	$ 593,200,000									0
3.900% senior notes \| Senior Notes \| American Tower Corporation
Debt Instrument [Line Items]
Debt interest rate (as a percent)	3.90%	3.90%
Long-term debt	$ 512,900,000									0
2.100% senior notes \| Senior Notes \| American Tower Corporation
Debt Instrument [Line Items]
Debt interest rate (as a percent)	2.10%
Long-term debt	$ 744,100,000									743,100,000
0.950% senior notes \| Senior Notes \| American Tower Corporation
Debt Instrument [Line Items]
Debt interest rate (as a percent)	0.95%
Long-term debt	$ 512,600,000									546,000,000.0
1.875% senior notes \| Senior Notes \| American Tower Corporation
Debt Instrument [Line Items]
Debt interest rate (as a percent)	1.875%
Long-term debt	$ 794,300,000									793,300,000
2.700% senior notes \| Senior Notes \| American Tower Corporation
Debt Instrument [Line Items]
Debt interest rate (as a percent)	2.70%
Long-term debt	$ 695,600,000									695,000,000.0
4.625% Notes \| Senior Notes \| American Tower Corporation
Debt Instrument [Line Items]
Debt interest rate (as a percent)	4.625%
Long-term debt	$ 511,700,000									545,200,000
2.300% senior notes \| Senior Notes \| American Tower Corporation
Debt Instrument [Line Items]
Debt interest rate (as a percent)	2.30%
Long-term debt	$ 693,600,000									692,700,000
1.000% senior notes \| Senior Notes \| American Tower Corporation
Debt Instrument [Line Items]
Debt interest rate (as a percent)	1.00%
Long-term debt	$ 667,600,000									711,500,000
4.050% senior notes \| Senior Notes \| American Tower Corporation
Debt Instrument [Line Items]
Debt interest rate (as a percent)	4.05%
Long-term debt	$ 643,700,000									642,900,000
5.650% senior notes \| Senior Notes \| American Tower Corporation
Debt Instrument [Line Items]
Debt interest rate (as a percent)	5.65%
Long-term debt	$ 791,400,000									790,600,000
1.250% senior notes \| Senior Notes \| American Tower Corporation
Debt Instrument [Line Items]
Debt interest rate (as a percent)	1.25%
Long-term debt	$ 512,100,000									545,800,000
5.550% senior notes \| Senior Notes \| American Tower Corporation
Debt Instrument [Line Items]
Debt interest rate (as a percent)	5.55%
Long-term debt	$ 841,400,000									840,600,000
5.900% senior notes \| Senior Notes \| American Tower Corporation
Debt Instrument [Line Items]
Debt interest rate (as a percent)	5.90%
Long-term debt	$ 742,200,000									741,500,000
5.450% senior notes \| Senior Notes \| American Tower Corporation
Debt Instrument [Line Items]
Debt interest rate (as a percent)	5.45%	5.45%
Long-term debt	$ 640,600,000									0
4.100% Senior Notes \| Senior Notes \| American Tower Corporation
Debt Instrument [Line Items]
Debt interest rate (as a percent)	4.10%		4.10%
Long-term debt	$ 510,500,000									0
5.400% senior notes \| Senior Notes \| American Tower Corporation
Debt Instrument [Line Items]
Debt interest rate (as a percent)	5.40%
Long-term debt	$ 591,900,000									0
3.700% senior notes \| Senior Notes \| American Tower Corporation
Debt Instrument [Line Items]
Debt interest rate (as a percent)	3.70%
Long-term debt	$ 592,600,000									592,400,000
3.100% senior notes \| Senior Notes \| American Tower Corporation
Debt Instrument [Line Items]
Debt interest rate (as a percent)	3.10%													3.10%	3.10%
Long-term debt	$ 1,038,800,000									1,038,600,000
2.950% senior notes \| Senior Notes \| American Tower Corporation
Debt Instrument [Line Items]
Debt interest rate (as a percent)	2.95%											2.95%	2.95%
Long-term debt	$ 1,023,800,000									1,023,200,000
Series 2015-2 Notes \| Secured Debt
Debt Instrument [Line Items]
Long-term debt																$ 525,000,000.0
Series 2015-2 Notes \| Secured Debt \| American Tower Subsidiary
Debt Instrument [Line Items]
Debt interest rate (as a percent)	3.482%
Long-term debt	$ 524,700,000									524,100,000
Series 2018-1A Securities \| Secured Debt \| American Tower Subsidiary
Debt Instrument [Line Items]
Debt interest rate (as a percent)	5.49%
Long-term debt	$ 497,600,000									496,800,000
Series 2023-1A Securities \| Secured Debt \| American Tower Subsidiary
Debt Instrument [Line Items]
Debt interest rate (as a percent)	3.652%
Long-term debt	$ 1,288,000,000									1,284,400,000
Other subsidiary debt \| Unsecured Debt \| American Tower Subsidiary
Debt Instrument [Line Items]
Long-term debt	$ 0									$ 3,400,000

BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Rent Expense (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Straight-line ground rent expense	$ 46.8	$ 24.4	$ 34.0

LONG-TERM OBLIGATIONS (Tables)

12 Months Ended

Dec. 31, 2024

Debt Disclosure [Abstract]

Schedule of Long-term Debt Instruments

Outstanding amounts under the Company’s long-term obligations, reflecting discounts, premiums and debt issuance costs, consisted of the following:


	As of
	December 31, 2024		December 31, 2023		Contractual Interest Rate (1)		Maturity Date (1)

2021 Multicurrency Credit Facility (2) (3)	$	—	$	723.4	—	%	July 1, 2026
2021 Term Loan (2)	997.9		997.0		5.562	%	January 31, 2027
2021 Credit Facility (2)	—		1,603.4		—	%	July 1, 2028

2021 EUR Three Year Delayed Draw Term Loan (3) (4)	—		910.7		N/A		N/A
0.600% senior notes (5)	—		500.0		N/A		N/A
5.00% senior notes (6)	—		1,000.1		N/A		N/A
3.375% senior notes (7)	—		649.7		N/A		N/A
2.950% senior notes (8)	650.0		648.2		2.950	%	January 15, 2025
2.400% senior notes	749.7		748.5		2.400	%	March 15, 2025
1.375% senior notes (9)	517.3		550.0		1.375	%	April 4, 2025
4.000% senior notes	749.4		748.1		4.000	%	June 1, 2025
1.300% senior notes	499.3		498.3		1.300	%	September 15, 2025
4.400% senior notes	499.3		498.7		4.400	%	February 15, 2026
1.600% senior notes	698.5		697.4		1.600	%	April 15, 2026
1.950% senior notes (9)	516.4		549.6		1.950	%	May 22, 2026
1.450% senior notes	597.4		595.9		1.450	%	September 15, 2026
3.375% senior notes	996.6		994.7		3.375	%	October 15, 2026
3.125% senior notes	399.3		398.9		3.125	%	January 15, 2027
2.750% senior notes	748.0		747.0		2.750	%	January 15, 2027
0.450% senior notes (9)	774.1		824.3		0.450	%	January 15, 2027
0.400% senior notes (9)	515.0		548.2		0.400	%	February 15, 2027
3.650% senior notes	646.4		644.8		3.650	%	March 15, 2027
4.125% senior notes (9)	618.5		658.6		4.125	%	May 16, 2027
3.55% senior notes	747.9		747.1		3.550	%	July 15, 2027
3.600% senior notes	697.0		696.0		3.600	%	January 15, 2028
0.500% senior notes (9)	772.6		822.8		0.500	%	January 15, 2028
1.500% senior notes	647.8		647.1		1.500	%	January 31, 2028
5.500% senior notes	695.0		693.6		5.500	%	March 15, 2028
5.250% senior notes	645.2		643.9		5.250	%	July 15, 2028
5.800% senior notes	744.6		743.4		5.800	%	November 15, 2028
5.200% senior notes	643.7		—		5.200	%	February 15, 2029
3.950% senior notes	594.8		593.7		3.950	%	March 15, 2029
0.875% senior notes (9)	773.0		823.7		0.875	%	May 21, 2029
3.800% senior notes	1,640.5		1,638.6		3.800	%	August 15, 2029
2.900% senior notes	745.1		744.2		2.900	%	January 15, 2030
5.000% senior notes	593.2		—		5.000	%	January 31, 2030
3.900% senior notes (9)	512.9		—		3.900	%	May 16, 2030
2.100% senior notes	744.1		743.1		2.100	%	June 15, 2030
0.950% senior notes (9)	512.6		546.0		0.950	%	October 5, 2030
1.875% senior notes	794.3		793.3		1.875	%	October 15, 2030
2.700% senior notes	695.6		695.0		2.700	%	April 15, 2031
4.625% senior notes (9)	511.7		545.2		4.625	%	May 16, 2031
2.300% senior notes	693.6		692.7		2.300	%	September 15, 2031
1.000% senior notes (9)	667.6		711.5		1.000	%	January 15, 2032
4.050% senior notes	643.7		642.9		4.050	%	March 15, 2032
5.650% senior notes	791.4		790.6		5.650	%	March 15, 2033
1.250% senior notes (9)	512.1		545.8		1.250	%	May 21, 2033


5.550% senior notes	841.4		840.6		5.550	%	July 15, 2033
5.900% senior notes	742.2		741.5		5.900	%	November 15, 2033
5.450% senior notes	640.6		—		5.450	%	February 15, 2034
4.100% senior notes (9)	510.5		—		4.100	%	May 16, 2034
5.400% senior notes	591.9		—		5.400	%	January 31, 2035
3.700% senior notes	592.6		592.4		3.700	%	October 15, 2049
3.100% senior notes	1,038.8		1,038.6		3.100	%	June 15, 2050
2.950% senior notes	1,023.8		1,023.2		2.950	%	January 15, 2051
Total American Tower Corporation debt	34,174.9		36,472.0

Series 2015-2 Notes (10)	524.7		524.1		3.482	%	June 16, 2025
Series 2018-1A Securities (11)	497.6		496.8		3.652	%	March 15, 2028
Series 2023-1A Securities (12)	1,288.0		1,284.4		5.490	%	March 15, 2028
Other subsidiary debt (13) (14)	—		3.4		Various		Various
Total American Tower subsidiary debt	2,310.3		2,308.7
Finance lease obligations	16.6		20.6
Total	36,501.8		38,801.3
Less current portion of long-term obligations	(3,693.0)		(3,067.3)
Long-term obligations	$	32,808.8	$	35,734.0

_______________

(1)Reflects interest rate or maturity date as of December 31, 2024.

(2)Accrues interest at a variable rate.

(3)As of December 31, 2023, reflects borrowings denominated in Euro (“EUR”) and, for the 2021 Multicurrency Credit Facility (as defined below), reflects borrowings denominated in both EUR and U.S. Dollars (“USD”).

(4)Repaid in full on May 21, 2024 using borrowings under the 2021 Multicurrency Credit Facility.

(5)Repaid in full on January 12, 2024 using borrowings under the 2021 Multicurrency Credit Facility.

(6)Repaid in full on February 14, 2024 using borrowings under the 2021 Multicurrency Credit Facility.

(7)Repaid in full on May 15, 2024 using borrowings under the 2021 Credit Facility (as defined below).

(8)Repaid in full on January 14, 2025 using cash on hand and borrowings under the 2021 Multicurrency Credit Facility.

(9)Notes are denominated in EUR.

(10)Maturity date reflects the anticipated repayment date; final legal maturity is June 15, 2050.

(11)Maturity date reflects the anticipated repayment date; final legal maturity is March 15, 2048.

(12)Maturity date reflects the anticipated repayment date; final legal maturity is March 15, 2053.

(13)As of December 31, 2023, includes amounts drawn under letters of credit in Nigeria, which are denominated in USD.

(14)As of December 31, 2023, excludes borrowings under the India Term Loan (as defined in note 22), which is included within Current liabilities of discontinued operations in the consolidated balance sheets.

As of December 31, 2024, the key terms under the 2021 Multicurrency Credit Facility, the 2021 Credit Facility, and the Company’s $1.0 billion unsecured term loan, as amended and restated in December 2021, as further amended (the “2021 Term Loan”) were as follows:


	Outstanding Principal Balance		Undrawn letters of credit		Maturity Date		Current margin over SOFR or EURIBOR (1)		Current commitment fee (2)
2021 Multicurrency Credit Facility	$	—	$	5.2	July 1, 2026	(3)	1.125	%	0.110	%
2021 Credit Facility	$	—	$	30.4	July 1, 2028	(3)	1.125	%	0.110	%
2021 Term Loan	$	1,000.0	N/A		January 31, 2027		1.125	%	N/A

_______________

(1) Secured Overnight Financing Rate (“SOFR”) applies to the USD denominated borrowings under the 2021 Multicurrency Credit Facility, the 2021 Credit Facility and the 2021 Term Loan.

(2) Fee on undrawn portion of each credit facility.

(3) Subject to two optional renewal periods.

The following table outlines key terms related to the Company’s outstanding senior notes as of December 31, 2024:


			Adjustments to Principal Amount (1)
	Aggregate Principal Amount		2024	2023	Interest payments due (2)	Issue Date	Par Call Date (3)
2.950% Notes	$	650.0	—	(1.8)	January 15 and July 15	June 13, 2019	December 15, 2024
2.400% Notes	750.0		(0.3)	(1.5)	March 15 and September 15	January 10, 2020	February 15, 2025
1.375% Notes (4)	517.7		(0.4)	(1.9)	April 4	April 6, 2017	January 4, 2025
4.000% Notes	750.0		(0.6)	(1.9)	June 1 and December 1	May 7, 2015	March 1, 2025
1.300% Notes	500.0		(0.7)	(1.7)	March 15 and September 15	June 3, 2020	August 15, 2025
4.400% Notes	500.0		(0.7)	(1.3)	February 15 and August 15	January 12, 2016	November 15, 2025
1.600% Notes	700.0		(1.5)	(2.6)	April 15 and October 15	March 29, 2021	March 15, 2026
1.950% Notes (4)	517.7		(1.3)	(2.3)	May 22	May 22, 2018	February 22, 2026
1.450% Notes	600.0		(2.6)	(4.1)	March 15 and September 15	September 27, 2021	August 15, 2026
3.375% Notes	1,000.0		(3.4)	(5.3)	April 15 and October 15	May 13, 2016	July 15, 2026
3.125% Notes	400.0		(0.7)	(1.1)	January 15 and July 15	September 30, 2016	October 15, 2026
2.750% Notes	750.0		(2.0)	(3.0)	January 15 and July 15	October 3, 2019	November 15, 2026
0.450% Notes (4)	776.5		(2.4)	(3.6)	January 15	May 21, 2021	November 15, 2026
0.400% Notes (4)	517.7		(2.7)	(3.7)	February 15	October 5, 2021	December 15, 2026
3.650% Notes	650.0		(3.6)	(5.2)	March 15 and September 15	April 1, 2022	February 15, 2027
4.125% Notes (4)	621.2		(2.7)	(3.7)	May 16	May 16, 2023	March 16, 2027
3.55% Notes	750.0		(2.1)	(2.9)	January 15 and July 15	June 30, 2017	April 15, 2027
3.600% Notes	700.0		(3.0)	(4.0)	January 15 and July 15	December 8, 2017	October 15, 2027
0.500% Notes (4)	776.5		(3.9)	(5.1)	January 15	September 10, 2020	October 15, 2027
1.500% Notes	650.0		(2.2)	(2.9)	January 31 and July 31	November 20, 2020	November 30, 2027
5.500% Notes	700.0		(5.0)	(6.4)	March 15 and September 15	March 3, 2023	February 15, 2028
5.250% Notes	650.0		(4.8)	(6.1)	January 15 and July 15	May 25, 2023	June 15, 2028


5.800% Notes	750.0	(5.4)	(6.6)	May 15 and November 15	September 15, 2023	October 15, 2028
5.200% Notes	650.0	(6.3)	—	February 15 and August 15	March 7, 2024	January 15. 2029
3.950% Notes	600.0	(5.2)	(6.3)	March 15 and September 15	March 15, 2019	December 15, 2028
0.875% Notes (4)	776.5	(3.5)	(4.2)	May 21	May 21, 2021	February 21, 2029
3.800% Notes	1,650.0	(9.5)	(11.4)	February 15 and August 15	June 13, 2019	May 15, 2029
2.900% Notes	750.0	(4.9)	(5.8)	January 15 and July 15	January 10, 2020	October 15, 2029
5.000% Notes	600.0	(6.8)	—	January 31 and July 31	November 21, 2024	December 31, 2029
3.900% Notes (4)	517.7	(4.8)	—	May 16	May 29, 2024	February 16, 2030
2.100% Notes	750.0	(5.9)	(6.9)	June 15 and December 15	June 3, 2020	March 15, 2030
0.950% Notes (4)	517.7	(5.1)	(5.9)	October 5	October 5, 2021	July 5, 2030
1.875% Notes	800.0	(5.7)	(6.7)	April 15 and October 15	September 28, 2020	July 15, 2030
2.700% Notes	700.0	(4.4)	(5.0)	April 15 and October 15	March 29, 2021	January 15, 2031
4.625% Notes (4)	517.7	(6.0)	(6.7)	May 16	May 16, 2023	February 16, 2031
2.300% Notes	700.0	(6.4)	(7.3)	March 15 and September 15	September 27, 2021	June 15, 2031
1.000% Notes (4)	672.9	(5.3)	(6.0)	January 15	September 10, 2020	October 15, 2031
4.050% Notes	650.0	(6.3)	(7.1)	March 15 and September 15	April 1, 2022	December 15, 2031
5.650% Notes	800.0	(8.6)	(9.4)	March 15 and September 15	March 3, 2023	December 15, 2032
1.250% Notes (4)	517.7	(5.6)	(6.1)	May 21	May 21, 2021	February 21, 2033
5.550% Notes	850.0	(8.6)	(9.4)	January 15 and July 15	May 25, 2023	April 15, 2033
5.900% Notes	750.0	(7.8)	(8.5)	May 15 and November 15	September 15, 2023	August 15, 2033
5.450% Notes	650.0	(9.4)	—	February 15 and August 15	March 7, 2024	November 15. 2033
4.100% Notes (4)	517.7	(7.2)	—	May 16	May 29, 2024	February 16. 2034
5.400% Notes	600.0	(8.1)	—	January 31 and July 31	November 21, 2024	October 31, 2034
3.700% Notes	600.0	(7.4)	(7.6)	April 15 and October 15	October 3, 2019	April 15, 2049
3.100% Notes (5)	1,050.0	(11.2)	(11.4)	June 15 and December 15	June 3, 2020	December 15, 2049
2.950% Notes (6)	1,050.0	(26.2)	(26.8)	January 15 and July 15	November 20, 2020	July 15, 2050

_______________

(1) Includes unamortized discounts, premiums and debt issuance costs.

(2) Accrued and unpaid interest on USD denominated notes is payable in USD semi-annually in arrears and will be computed from the issue date on the basis of a 360-day year comprised of twelve 30-day months. Interest on EUR denominated notes is payable in EUR annually in arrears and will be computed on the basis of the actual number of days in the period for which interest is being calculated and the actual number of days from and including the last date on which interest was paid on the notes, beginning on the issue date.

(3) The Company may redeem the notes at any time, in whole or in part, at a redemption price equal to 100% of the principal amount of the notes plus a make-whole premium, together with accrued interest to the redemption date. If the Company redeems the notes on or after the par call date, the Company will not be required to pay a make-whole premium.

(4) Notes are denominated in EUR.

(5) The original issue date for the initial 3.100% Notes was June 3, 2020. The issue date for the reopened 3.100% Notes was September 28, 2020.

(6) The original issue date for the initial 2.950% Notes was November 20, 2020. The issue date for the reopened 2.950% Notes was September 27, 2021.

Amounts outstanding and key terms of other subsidiary debt consisted of the following as of December 31, (in millions, except percentages):


	Carrying Value (Denominated Currency)				Carrying Value (USD)				Interest Rate	Maturity Date
	2024		2023		2024		2023
Nigeria Letters of Credit (1)	$	—	$	3.4	$	—	$	3.4	Various	Various

_______________

(1) Denominated in USD. During the years ended December 31, 2024 and 2023, we drew on letters of credit in Nigeria. The drawn amounts bear interest at a rate equal to the SOFR at the time of drawing plus a spread. Amounts are due 270 days from the date of drawing.

Schedule of Maturities of Long-term Debt

Aggregate principal maturities of long-term debt, including finance leases, for the next five years and thereafter are expected to be:


Fiscal Year	Amount
2025	$	3,693.0
2026	3,319.3
2027	5,466.7
2028	6,027.4
2029	3,677.0
Thereafter	14,572.9
Total cash obligations	36,756.3
Unamortized discounts, premiums and debt issuance costs, net	(254.5)
Balance as of December 31, 2024	$	36,501.8

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(22))
-SubTopic 10
-Topic 210
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481568/470-20-55-69B

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69E
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481568/470-20-55-69E

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-04(a))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 835
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482925/835-30-45-2

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-3

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477734/942-470-50-3

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-8

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-6

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-7

+ Details

NONCONTROLLING INTERESTS - Schedule of Changes in Noncontrolling Interest (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
Balance at beginning of period	$ 10,865.4	$ 12,408.5	$ 9,069.6
Net income (loss) attributable to noncontrolling interests	2,280.2	1,367.1	1,696.7
Contributions from noncontrolling interest holders	154.6	12.7	3,125.4
Distributions to noncontrolling interest holders	(346.4)	(146.8)	(23.0)
Balance at end of period	9,648.7	10,865.4	12,408.5
Contributions from noncontrolling interest holders	49.9	0.0	0.0
Stonepeak Partners LP
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
Contributions from noncontrolling interest holders	137.3
Contributions from noncontrolling interest holders	37.5
PGGM
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
Contributions from noncontrolling interest holders	12.4
Noncontrolling Interests
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
Balance at beginning of period	6,667.2	6,836.1	3,988.4
Net income (loss) attributable to noncontrolling interests	25.2	(116.2)	(69.1)
Foreign currency translation adjustment attributable to noncontrolling interests, net of tax	(234.1)	81.4
Contributions from noncontrolling interest holders	154.6	12.7	3,125.4
Distributions to noncontrolling interest holders	(346.4)	(146.8)	(23.0)
Balance at end of period	6,266.5	6,667.2	$ 6,836.1
Noncontrolling Interests \| All Other Entities
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
Contributions from noncontrolling interest holders	$ 154.6	$ 12.7

BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Goodwill and Other Intangible Assets (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Sep. 30, 2023	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Finite-Lived Intangible Assets [Line Items]
Goodwill impairment		$ 0.0	$ 80.0	$ 0.0
Spain
Finite-Lived Intangible Assets [Line Items]
Goodwill impairment			80.0
Discontinued Operations, Disposed of by Sale \| ATC TIPL
Finite-Lived Intangible Assets [Line Items]
Goodwill impairment included in discontinued operations	$ 322.0	$ 0.0	$ 322.0	$ 0.0
Minimum
Finite-Lived Intangible Assets [Line Items]
Estimated useful lives (years)		2 years
Maximum
Finite-Lived Intangible Assets [Line Items]
Estimated useful lives (years)		30 years

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Ownership, Australia and New Zealand, Narrative (Details) $ in Millions, $ in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2024 USD ($)	Dec. 31, 2023	Dec. 11, 2024 USD ($)	Dec. 11, 2024 NZD ($)	Nov. 11, 2024 USD ($)	Nov. 11, 2024 AUD ($)
Concentration Risk [Line Items]
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal, Statement of Income or Comprehensive Income [Extensible Enumeration]	Other Operating Income (Expense), Net	Other Operating Income (Expense), Net
Disposal Group, Disposed of by Sale, Not Discontinued Operations \| ATC Australia
Concentration Risk [Line Items]
Percentage of ownership interest sold					100.00%	100.00%
Total consideration					$ 41.2	$ 63.4
Disposal Group, Disposed of by Sale, Not Discontinued Operations \| ATC New Zealand
Concentration Risk [Line Items]
Percentage of ownership interest sold			100.00%	100.00%
Total consideration			$ 36.4	$ 62.5
Disposal Group, Disposed of by Sale, Not Discontinued Operations \| ATC Australia and ATC New Zealand
Concentration Risk [Line Items]
Gain on sale	$ 8.5
United States \| Data Centers \| Common Stock
Concentration Risk [Line Items]
Percentage of ownership after transaction (as a percent)	72.00%
ATC Europe
Concentration Risk [Line Items]
Noncontrolling ownership interest percentage (as a percent)	52.00%
Joint Venture - Bangladesh Operations
Concentration Risk [Line Items]
Ownership percentage (as a percent)	51.00%
Stonepeak Partners LP \| United States \| Data Centers \| Common Stock
Concentration Risk [Line Items]
Ownership percentage by noncontrolling owners (as a percent)	28.00%
Stonepeak Partners LP \| United States \| Data Centers \| Preferred Stock
Concentration Risk [Line Items]
Ownership percentage by noncontrolling owners (as a percent)	100.00%
Germany
Concentration Risk [Line Items]
Ownership percentage by noncontrolling owners (as a percent)	13.00%
Germany \| ATC Europe
Concentration Risk [Line Items]
Noncontrolling ownership interest percentage (as a percent)	87.00%
Spain
Concentration Risk [Line Items]
Ownership percentage by noncontrolling owners (as a percent)	17.00%
Spain \| ATC Europe
Concentration Risk [Line Items]
Noncontrolling ownership interest percentage (as a percent)	83.00%

LONG-TERM OBLIGATIONS - Finance Lease Obligations Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Debt Disclosure [Abstract]
Finance lease obligations	$ 16.6	$ 20.6

NONCONTROLLING INTERESTS (Tables)

12 Months Ended

Dec. 31, 2024

Noncontrolling Interest [Abstract]

Schedule of Changes in Noncontrolling Interests

The changes in noncontrolling interests were as follows:


	Year Ended December 31,
	2024		2023
Balance as of January 1,	$	6,667.2	$	6,836.1





Net income (loss) attributable to noncontrolling interests	25.2		(116.2)
Foreign currency translation adjustment attributable to noncontrolling interests, net of tax	(234.1)		81.4
Contributions from noncontrolling interest holders (1)	154.6		12.7
Distributions to noncontrolling interest holders	(346.4)		(146.8)
Balance as of December 31,	$	6,266.5	$	6,667.2

_______________

(1) For the year ended December 31, 2024 includes contributions from Stonepeak of $137.3 million, including a noncash contribution of $37.5 million made in lieu of Stonepeak’s receipt of the Stonepeak Common Dividend and a noncash contribution from PGGM of $12.4 million made in lieu of PGGM’s receipt of a distribution.

DISCONTINUED OPERATIONS (Tables)

12 Months Ended

Dec. 31, 2024

Discontinued Operations and Disposal Groups [Abstract]

Schedule of Discontinued Operations

The loss on sale of ATC TIPL is included in Loss from discontinued operations, net of taxes in the consolidated statements of operations for year ended December 31, 2024.


Proceeds received at closing	$	2,158.8
Net assets at closing	(2,257.6)
Loss on sale	$	(98.8)
Deal costs	(20.5)
Contingent liability for tax indemnification	(53.9)
Reclassification of cumulative translation adjustment	(1,072.3)
Total loss on sale included in loss from discontinued operations, net of taxes	$	(1,245.5)

Assets of discontinued operations consisted of the following:


	As of
	December 31, 2024		December 31, 2023
Cash and cash equivalents	$	—	$	219.6
Restricted cash	—		0.4
Accounts receivable, net	—		122.2
Prepaid and other current assets (1)	—		387.4
Total current assets of discontinued operations	$	—	$	729.6
Property and equipment, net	$	—	$	925.6
Goodwill	—		555.5
Other intangible assets, net	—		588.4
Deferred rent	—		43.6
Right-of-use asset	—		673.7
Notes receivable and other non-current assets			34.1
Total non-current assets of discontinued operations	$	—	$	2,820.9
Total assets of discontinued operations	$	—	$	3,550.5

_______________

(1) As of December 31, 2023, includes the VIL OCDs.

Liabilities of discontinued operations consisted of the following:


	As of
	December 31, 2024		December 31, 2023
Accounts payable	$	—	$	7.4
Accrued expenses	—		227.8
Accrued interest	—		2.8
Current portion of operating lease liability	—		104.2
Current portion of long-term obligations	—		120.2
Unearned revenue	—		0.9
Total current liabilities of discontinued operations	$	—	$	463.3
Operating lease liability	—		623.4
Asset retirement obligation	—		78.2
Deferred tax liability	—		50.8
Other non-current liabilities	—		70.8
Total non-current liabilities of discontinued operations	$	—	$	823.2
Total liabilities of discontinued operations	$	—	$	1,286.5

The following table presents key components of Loss from discontinued operations, net of taxes in the consolidated statements of operations:


	Year Ended December 31,
	2024 (1)		2023		2022
Revenue	$	911.2	$	1,132.0	$	1,065.7
Cost of operations	(473.8)		(699.1)		(694.6)
Depreciation, amortization and accretion	(96.0)		(158.0)		(190.2)
Selling, general, administrative and development expense	(58.7)		(46.5)		(70.2)
Other operating expense (2)	(6.7)		(7.0)		(497.0)
Loss on sale of ATC TIPL (3)	(1,245.5)		—		—
Goodwill impairment	—		(322.0)		—
Operating loss	(969.5)		(100.6)		(386.3)
Interest income	30.7		24.8		22.5
Interest expense	(7.6)		(10.0)		(0.5)
Other income (expense), net	46.5		77.8		(1.0)
Loss from discontinued operations before taxes	$	(899.9)	$	(8.0)	$	(365.3)
Income tax provision (benefit)	78.4		63.4		(88.8)
Loss from discontinued operations, net of taxes	$	(978.3)	$	(71.4)	$	(276.5)

_______________

(1)Includes the results of operations for ATC TIPL through September 12, 2024.

(2)For the year ended December 31, 2022, primarily includes impairment charges, as discussed below.

(3)Primarily includes the reclassification of the Company’s cumulative translation adjustment in India upon exiting the market of $1.1 billion.

The following table presents key cash flow and non-cash information related to discontinued operations:


	Year Ended December 31,
	2024 (1)		2023		2022
Proceeds from the sale of ATC TIPL	$	2,158.8	$	—	$	—
Capital expenditures	(52.3)		(111.9)		(123.0)

Significant non-cash items:
Depreciation, amortization and accretion	96.0		158.0		190.2
Stock-based compensation expense	10.9		12.4		7.6
Impairments, net loss on sale of long-lived assets, non-cash restructuring and merger related expenses	(2.3)		318.2		500.3
(Gain) loss on investments, unrealized foreign currency (gain) loss and other non-cash expense	(30.7)		(82.5)		14.0
Loss on sale of ATC TIPL (2)	1,245.5		—		—

_______________

(1)Includes the cash flows for ATC TIPL through September 12, 2024.

(2)Primarily includes the reclassification of the Company’s cumulative translation adjustment in India upon exiting the market of $1.1 billion.

- Definition

Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
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Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 205
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-Name Accounting Standards Codification
-Section 45
-Paragraph 11
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Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
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Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
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-Section 50
-Paragraph 5C
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Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org/1943274/2147483499/205-20-50-5D

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org/1943274/2147483499/205-20-50-7

Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 360
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org/1943274/2147482099/360-10-50-3A

Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 13: http://fasb.org/us-gaap/role/ref/legacyRef
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+ Details

ASSET RETIREMENT OBLIGATIONS - Narrative (Details) $ in Billions	Dec. 31, 2024 USD ($)
Asset Retirement Obligation [Abstract]
Estimated undiscounted future cash outlay for asset retirement obligations	$ 4.5

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$ 2,280.2	$ 1,367.1	$ 1,696.7
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation, amortization and accretion	2,124.8	3,086.5	3,355.1
Stock-based compensation expense	203.6	195.7	169.3
(Gain) loss on investments, unrealized foreign currency (gain) loss and other non-cash expense	(380.1)	279.0	(401.2)
Impairments, net loss on sale of long-lived assets, non-cash restructuring and merger related expenses	96.6	739.9	684.3
Loss on early retirement of long-term obligations	0.0	0.3	0.4
Loss on sale of ATC TIPL	1,245.5	0.0	0.0
Amortization of deferred financing costs, debt discounts and premiums and other non-cash interest	54.1	49.8	47.5
Deferred income taxes	52.3	(182.0)	(236.7)
Changes in assets and liabilities, net of acquisitions:
Accounts receivable	(103.4)	(34.5)	(78.6)
Prepaid and other assets	32.8	(342.6)	(196.1)
Deferred rent asset	(276.3)	(472.0)	(499.8)
Right-of-use asset and Operating lease liability, net	(20.6)	(103.7)	(9.3)
Accounts payable and accrued expenses	48.0	(11.9)	(48.2)
Accrued interest	(9.6)	128.6	6.6
Unearned revenue	(79.3)	(43.4)	(818.9)
Other non-current liabilities	21.9	65.6	25.1
Cash provided by operating activities	5,290.5	4,722.4	3,696.2
CASH FLOWS FROM INVESTING ACTIVITIES
Payments for purchase of property and equipment and construction activities	(1,590.0)	(1,798.1)	(1,873.6)
Payments for acquisitions, net of cash acquired	(123.0)	(168.0)	(549.0)
Proceeds from sales of short-term investments and other non-current assets	253.2	17.3	19.6
Proceeds from the sale of ATC TIPL	2,158.8	0.0	0.0
Deposits and other	(288.4)	253.3	47.8
Cash provided by (used for) investing activities	410.6	(1,695.5)	(2,355.2)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from short-term borrowings, net	8.8	148.7	28.8
Borrowings under credit facilities	6,932.9	6,120.0	4,190.0
Proceeds from issuance of senior notes, net	3,568.6	5,678.3	1,293.6
Proceeds from issuance of securities in securitization transaction	0.0	1,300.0	0.0
Repayments of notes payable, credit facilities, senior notes, secured debt, term loans and finance leases	(12,429.6)	(13,230.3)	(9,625.5)
Contributions from noncontrolling interest holders	104.7	4.1	3,120.8
Distributions to noncontrolling interest holders	(390.8)	(46.5)	(10.9)
Purchases of common stock	0.0	0.0	(18.8)
Proceeds from stock options and employee stock purchase plan	46.4	22.1	32.4
Distributions paid on common stock	(3,074.9)	(2,949.3)	(2,630.4)
Proceeds from the issuance of common stock, net	0.0	0.0	2,291.7
Deferred financing costs and other financing activities	(218.5)	(144.5)	(94.9)
Cash used for financing activities	(5,452.4)	(3,097.4)	(1,423.2)
Net effect of changes in foreign currency exchange rates on cash and cash equivalents, and restricted cash	(233.9)	23.2	(120.4)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS, AND RESTRICTED CASH	14.8	(47.3)	(202.6)
CASH AND CASH EQUIVALENTS, AND RESTRICTED CASH, BEGINNING OF YEAR	2,093.4	2,140.7	2,343.3
CASH AND CASH EQUIVALENTS, AND RESTRICTED CASH, END OF YEAR	$ 2,108.2	$ 2,093.4	$ 2,140.7

NONCONTROLLING INTERESTS - Narrative (Details) € in Millions, ৳ in Millions, $ in Millions	1 Months Ended		12 Months Ended						48 Months Ended
	Aug. 31, 2021 USD ($)	Aug. 31, 2021 BDT (৳)	Dec. 31, 2024 USD ($)	Dec. 31, 2024 EUR (€)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2021 EUR (€)	Aug. 31, 2026
Noncontrolling Interest [Line Items]
Distributions to noncontrolling interest holders			$ 49.9		$ 0.0	$ 0.0
Stonepeak Partners LP
Noncontrolling Interest [Line Items]
Distributions to noncontrolling interest holders			37.5
Dividends, common stock			47.4
Common Stock \| Stonepeak Partners LP
Noncontrolling Interest [Line Items]
Dividends payable			$ 91.7
United States \| Data Centers
Noncontrolling Interest [Line Items]
Stock conversion period			4 years	4 years
United States \| Data Centers \| Common Stock
Noncontrolling Interest [Line Items]
Percentage of ownership after transaction (as a percent)			72.00%	72.00%
United States \| Data Centers \| Common Stock \| Forecast
Noncontrolling Interest [Line Items]
Percentage of ownership after transaction (as a percent)									64.00%
Kirtonkhola Tower Bangladesh Limited
Noncontrolling Interest [Line Items]
Percentage of interests acquired	51.00%	51.00%
Total considerations	$ 10.6	৳ 900
Stonepeak Partners LP \| Preferred Stock
Noncontrolling Interest [Line Items]
Dividends declared			$ 46.2
Dividends payable			11.6
Stonepeak Partners LP \| United States \| Data Centers
Noncontrolling Interest [Line Items]
Payments to acquire noncontrolling interest						$ 3,100.0
AT Iberia Cv
Noncontrolling Interest [Line Items]
Dividends declared			98.9	€ 92.4
ATC Europe C.V.
Noncontrolling Interest [Line Items]
Dividends declared			465.1	422.5
AT Rhine CV
Noncontrolling Interest [Line Items]
Dividends declared			$ 115.6	€ 105.0
ATC Europe
Noncontrolling Interest [Line Items]
Noncontrolling ownership interest percentage (as a percent)			52.00%
ATC Europe \| CDPQ
Noncontrolling Interest [Line Items]
Ownership interest acquired							30.00%	30.00%
Ownership percentage by noncontrolling owners (as a percent)			30.00%
ATC Europe \| Allianz
Noncontrolling Interest [Line Items]
Ownership interest acquired							18.00%	18.00%
Ownership percentage by noncontrolling owners (as a percent)			18.00%
ATC Europe \| CDPQ & Allianz
Noncontrolling Interest [Line Items]
Payments to acquire noncontrolling interest							$ 3,100.0	€ 2,600.0
Subsidiaries Operating In France \| ATC Europe
Noncontrolling Interest [Line Items]
Noncontrolling ownership interest percentage (as a percent)			100.00%
Germany
Noncontrolling Interest [Line Items]
Ownership percentage by noncontrolling owners (as a percent)			13.00%
Germany \| ATC Europe
Noncontrolling Interest [Line Items]
Noncontrolling ownership interest percentage (as a percent)			87.00%
Spain
Noncontrolling Interest [Line Items]
Ownership percentage by noncontrolling owners (as a percent)			17.00%
Spain \| ATC Europe
Noncontrolling Interest [Line Items]
Noncontrolling ownership interest percentage (as a percent)			83.00%
Kirtonkhola Tower Bangladesh Limited \| Confidence Group
Noncontrolling Interest [Line Items]
Ownership percentage by noncontrolling owners (as a percent)	49.00%	49.00%
Stonepeak Partners LP \| United States \| Data Centers
Noncontrolling Interest [Line Items]
Preferred stock, dividend rate (as a percent)			5.00%	5.00%
Preferred stock, conversion ratio			1
Stonepeak Partners LP \| United States \| Data Centers \| Common Stock
Noncontrolling Interest [Line Items]
Ownership percentage by noncontrolling owners (as a percent)			28.00%
Stonepeak Partners LP \| United States \| Data Centers \| Common Stock \| Forecast
Noncontrolling Interest [Line Items]
Ownership percentage by noncontrolling owners (as a percent)									36.00%
Stonepeak Partners LP \| United States \| Data Centers \| Preferred Stock
Noncontrolling Interest [Line Items]
Ownership percentage by noncontrolling owners (as a percent)			100.00%

BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Segments (Details) - segment	3 Months Ended	9 Months Ended
	Dec. 31, 2024	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of reportable segments	6	7

ASSET RETIREMENT OBLIGATIONS

12 Months Ended

Dec. 31, 2024

Asset Retirement Obligation [Abstract]

ASSET RETIREMENT OBLIGATIONS

The changes in the carrying amount of the Company’s asset retirement obligations were as follows:


	2024		2023
Beginning balance as of January 1,	$	2,080.0	$	1,973.0
Additions	15.5		12.0
Accretion expense (1)	35.5		112.7
Revisions in estimates (2)	304.1		(1.4)
Settlements	(41.3)		(16.3)
Balance as of December 31,	$	2,393.8	$	2,080.0

_______________

(1)For the year ended December 31, 2024 reflects an estimated $75.0 million decrease in accretion expense related to the extension in the estimated settlement dates, as discussed in note 1.

(2)Revisions in estimates include a decrease to the liability of $125.0 million and an increase to the liability of $22.8 million related to foreign currency translation for the years ended December 31, 2024 and 2023, respectively. For the year ended December 31, 2024 includes a $470.0 million increase in the asset retirement obligation liability related to the extension in the estimated settlement dates, as discussed in note 1.

As of December 31, 2024, the estimated undiscounted future cash outlay for asset retirement obligations was $4.5 billion.

CONSOLIDATED STATEMENTS OF OPERATIONS (Parenthetical) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income Statement [Abstract]
Foreign currency gains (losses)	$ 308.3	$ (330.6)	$ 451.4

PROPERTY AND EQUIPMENT- Summary of Property and Equipment (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 30,062.5	$ 29,376.3
Less accumulated depreciation	(11,005.7)	(10,513.1)
Property and equipment, net	$ 19,056.8	$ 18,863.2
Minimum
Property, Plant and Equipment [Line Items]
Estimated useful lives (years)	2 years
Maximum
Property, Plant and Equipment [Line Items]
Estimated Useful Lives (years)	30 years
Estimated useful lives (years)	30 years
Maximum \| Network location intangible assets
Property, Plant and Equipment [Line Items]
Estimated useful lives (years)	30 years	20 years
Towers
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 15,745.0	$ 15,499.9
Towers \| Maximum
Property, Plant and Equipment [Line Items]
Estimated Useful Lives (years)	30 years
Equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 4,921.8	4,480.5
Equipment \| Minimum
Property, Plant and Equipment [Line Items]
Estimated Useful Lives (years)	3 years
Equipment \| Maximum
Property, Plant and Equipment [Line Items]
Estimated Useful Lives (years)	20 years
Buildings and improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 3,786.3	3,775.1
Buildings and improvements \| Maximum
Property, Plant and Equipment [Line Items]
Estimated Useful Lives (years)	40 years
Land and improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 4,311.0	4,265.4
Land and improvements \| Maximum
Property, Plant and Equipment [Line Items]
Estimated Useful Lives (years)	30 years
Construction-in-progress
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 1,298.4	$ 1,355.4

FAIR VALUE MEASUREMENTS - Fair Value of Goodwill (Details) - Spain - Valuation, Income Approach	Dec. 31, 2023
Terminal Growth Rates on Cash Flows
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Goodwill, measurement input	0.02
Weighted Average Cost of Capital
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Goodwill, measurement input	0.07

EQUITY

12 Months Ended

Dec. 31, 2024

Equity [Abstract]

EQUITY

Dividends—The Company may pay dividends in cash or, subject to certain limitations, in shares of common stock or any combination of cash and shares of common stock.

Sales of Equity Securities—The Company receives proceeds from sales of its equity securities pursuant to the ESPP and upon exercise of stock options granted under the 2007 Plan. During the year ended December 31, 2024, the Company received an aggregate of $46.4 million in proceeds upon exercises of stock options and sales pursuant to the ESPP.

Stock Repurchase Programs—In March 2011, the Company’s Board of Directors approved a stock repurchase program, pursuant to which the Company is authorized to repurchase up to $1.5 billion of its common stock (the “2011 Buyback”). In December 2017, the Board of Directors approved an additional stock repurchase program, pursuant to which the Company is authorized to repurchase up to $2.0 billion of its common stock (the “2017 Buyback,” and, together with the 2011 Buyback, the “Buyback Programs”).

During the year ended December 31, 2024, there were no repurchases under either of the Buyback Programs. As of December 31, 2024, the Company has repurchased a total of 14,451,325 shares of its common stock under the 2011 Buyback for an aggregate of $1.5 billion, including commissions and fees. As of December 31, 2024, the Company has not made any repurchases under the 2017 Buyback.

Under the Buyback Programs, the Company is authorized to purchase shares from time to time through open market purchases or in privately negotiated transactions not to exceed market prices and subject to market conditions and other factors. With respect to open market purchases, the Company may use plans adopted in accordance with Rule 10b5-1 under the Exchange Act in accordance with securities laws and other legal requirements, which allows the Company to repurchase shares during periods when it may otherwise be prevented from doing so under insider trading laws or because of self-imposed trading blackout periods.

The Company expects to fund any further repurchases of its common stock through a combination of cash on hand, cash generated by operations and borrowings under its credit facilities. Repurchases under the Buyback Programs are subject to, among other things, the Company having available cash to fund the repurchases.

Distributions—During the years ended December 31, 2024, 2023 and 2022, the Company declared the following cash distributions (per share data reflects actual amounts):


	For the year ended December 31,
	2024				2023				2022
	Distribution per share		Aggregate Payment Amount		Distribution per share		Aggregate Payment Amount		Distribution per share		Aggregate Payment Amount
Common Stock	$	6.48	$	3,027.3	$	6.45	$	3,006.7	$	5.86	$	2,715.3

The following table characterizes the tax treatment of distributions declared per share of common stock.


		For the year ended December 31,
		2024					2023					2022
		Per Share			%		Per Share			%		Per Share			%
Common Stock
	Ordinary dividend	$	6.5600		100.00	%	$	6.3100		100.00	%	$	4.3000		100.00	%
	Capital gains distribution	—			—		—			—		—			—
	Total	$	6.5600	(1)	100.00	%	$	6.3100	(2)	100.00	%	$	4.3000	(3)	100.00	%

_______________

(1) Excludes dividend declared on December 5, 2024 of $1.62 per share, which was paid on February 3, 2025 to common stockholders of record at the close of business on December 27, 2024 and which will apply to the 2025 tax year. Includes dividend declared on December 13, 2023 of $1.70 per share, which was paid on February 1, 2024 to common stockholders of record at the close of business on December 28, 2023 and which applied to the 2024 tax year.

(2) Excludes dividend declared on December 13, 2023 of $1.70 per share, which was paid on February 1, 2024 to common stockholders of record at the close of business on December 28, 2023 and which applied to the 2024 tax year. Includes dividend declared on December 7, 2022 of $1.56 per share, which was paid on February 2, 2023 to common stockholders of record at the close of business on December 28, 2022 and which applied to the 2023 tax year.

(3) Excludes dividend declared on December 7, 2022 of $1.56 per share, which was paid on February 2, 2023 to common stockholders of record at the close of business on December 28, 2022 and which applied to the 2023 tax year.

The Company accrues distributions on unvested restricted stock units, which are payable upon vesting. The amount accrued for distributions payable related to unvested restricted stock units was $22.5 million and $21.5 million as of December 31, 2024 and 2023, respectively. During the year ended December 31, 2024, the Company paid $12.0 million of distributions upon the vesting of restricted stock units. To maintain its qualification for taxation as a REIT, the Company expects to continue paying distributions, the amount, timing and frequency of which will be determined, and subject to adjustment, by the Company’s Board of Directors.

- Definition

The entire disclosure for equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 1
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-URI https://asc.fasb.org/1943274/2147480008/505-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Paragraph 1
-Subparagraph (SX 210.4-08(e)(1))
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-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/505/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (a)
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-URI https://asc.fasb.org/1943274/2147481112/505-10-50-14

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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Reference 16: http://www.xbrl.org/2003/role/disclosureRef
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Reference 17: http://www.xbrl.org/2003/role/disclosureRef
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Reference 18: http://www.xbrl.org/2003/role/disclosureRef
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-18

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-18

+ Details

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
REVENUES:
Total operating revenues	$ 10,127.2	$ 10,012.2	$ 9,645.4
Costs of operations (exclusive of items shown separately below):
Property	2,481.8	2,501.4	2,461.8
Depreciation, amortization and accretion	2,028.8	2,928.5	3,164.9
Selling, general, administrative and development expense	933.4	946.0	902.1
Other operating expense	74.1	370.7	270.6
Goodwill impairment	0.0	80.0	0.0
Total operating expenses	5,610.7	6,886.7	6,906.8
OPERATING INCOME	4,516.5	3,125.5	2,738.6
OTHER INCOME (EXPENSE):
Interest income	135.2	118.6	49.1
Interest expense	(1,404.5)	(1,388.2)	(1,136.0)
Loss on retirement of long-term obligations	0.0	(0.3)	(0.4)
Other income (expense) (including foreign currency gains (losses) of $308.3, $(330.6), and $451.4 respectively)	377.6	(326.3)	434.7
Total other expense	(891.7)	(1,596.2)	(652.6)
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES	3,624.8	1,529.3	2,086.0
Income tax provision	(366.3)	(90.8)	(112.8)
NET INCOME FROM CONTINUING OPERATIONS	3,258.5	1,438.5	1,973.2
LOSS FROM DISCONTINUED OPERATIONS, NET OF TAXES	(978.3)	(71.4)	(276.5)
NET INCOME	2,280.2	1,367.1	1,696.7
Net (income) loss attributable to noncontrolling interests	(25.2)	116.2	69.1
NET INCOME ATTRIBUTABLE TO AMERICAN TOWER CORPORATION COMMON STOCKHOLDERS, Basic	2,255.0	1,483.3	1,765.8
NET INCOME ATTRIBUTABLE TO AMERICAN TOWER CORPORATION COMMON STOCKHOLDERS, Diluted	2,255.0	1,483.3	1,765.8
NET INCOME FROM CONTINUING OPERATIONS ATTRIBUTABLE TO AMERICAN TOWER CORPORATION COMMON STOCKHOLDERS, BASIC	3,233.3	1,554.7	2,042.3
NET INCOME FROM CONTINUING OPERATIONS ATTRIBUTABLE TO AMERICAN TOWER CORPORATION COMMON STOCKHOLDERS, DILUTED	3,233.3	1,554.7	2,042.3
NET LOSS FROM DISCONTINUED OPERATIONS ATTRIBUTABLE TO AMERICAN TOWER CORPORATION COMMON STOCKHOLDERS, BASIC	(978.3)	(71.4)	(276.5)
NET LOSS FROM DISCONTINUED OPERATIONS ATTRIBUTABLE TO AMERICAN TOWER CORPORATION COMMON STOCKHOLDERS, DILUTED	$ (978.3)	$ (71.4)	$ (276.5)
NET INCOME PER COMMON SHARE AMOUNTS:
Basic net income from continuing operations attributable to American Tower Corporation common stockholders (in dollars per share)	$ 6.92	$ 3.34	$ 4.43
Basic net income (loss) from discontinued operations attributable to American Tower Corporation common stockholders per common share (in dollars per share)	(2.09)	(0.15)	(0.60)
Basic net income attributable to American Tower Corporation common stockholders (in dollars per share)	4.83	3.18	3.83
Diluted net income from continuing operations attributable to American Tower Corporation common stockholders (in dollars per share)	6.91	3.33	4.41
Diluted net income (loss) from discontinued operations attributable to American Tower Corporation common stockholders (in dollars per share)	(2.09)	(0.15)	(0.60)
Diluted net income attributable to American Tower Corporation common stockholders (in dollars per share)	$ 4.82	$ 3.18	$ 3.82
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING (in thousands):
BASIC (in shares)	467,011	466,063	461,519
DILUTED (in shares)	468,120	467,162	462,750
Property
REVENUES:
Total operating revenues	$ 9,933.5	$ 9,869.2	$ 9,404.3
Services
REVENUES:
Total operating revenues	193.7	143.0	241.1
Costs of operations (exclusive of items shown separately below):
Services	$ 92.6	$ 60.1	$ 107.4

INCOME TAXES - Components of Net Deferred Tax Asset and Liability (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Assets:
Operating lease liability	$ 900.8	$ 964.2
Net operating loss carryforwards	212.0	276.4
Accrued asset retirement obligations	245.6	226.3
Stock-based compensation	9.9	8.5
Unearned revenue	19.8	35.8
Unrealized loss on foreign currency	25.6	20.8
Other accruals and allowances	46.1	40.3
Nondeductible interest	51.6	67.1
Tax credits	311.2	147.3
Capital loss carryforwards	293.1	175.0
Items not currently deductible and other	58.6	57.3
Liabilities:
Depreciation and amortization	(1,566.0)	(1,568.0)
Right-of-use asset	(907.0)	(978.8)
Deferred rent	(116.3)	(122.9)
Other	(42.6)	(47.3)
Subtotal	(457.6)	(698.0)
Valuation allowance	(681.7)	(433.5)	$ (335.7)	$ (329.3)
Net deferred tax liabilities	$ (1,139.3)	$ (1,131.5)

ACQUISITIONS

12 Months Ended

Dec. 31, 2024

Business Combinations [Abstract]

ACQUISITIONS

The Company evaluates each of its acquisitions under the accounting guidance framework to determine whether to treat an acquisition as an asset acquisition or a business combination. For those transactions treated as asset acquisitions, the purchase price is allocated to the assets or rights acquired and liabilities assumed, with no recognition of goodwill. For those transactions treated as business combinations, the estimates of the fair value of the assets or rights acquired and liabilities assumed at the date of the applicable acquisition are subject to adjustment during the measurement period (up to one year from the particular acquisition date).

The fair value of these net assets acquired are based on management’s estimates and assumptions, as well as other information compiled by management, including valuations that utilize customary valuation procedures and techniques. While the Company believes that such preliminary estimates provide a reasonable basis for estimating the fair value of assets acquired and liabilities assumed, it evaluates any necessary information prior to finalization of the fair value. During the measurement period for those acquisitions accounted for as business combinations, the Company will adjust assets or liabilities if new information is obtained about facts and circumstances that existed as of the acquisition date that, if known, would have resulted in the revised estimated values of those assets or liabilities as of that date.

Impact of current year acquisitions—The Company typically acquires communications sites and other communications infrastructure assets from wireless carriers or other tower operators and subsequently integrates those sites and related assets into its existing portfolio of communications sites and related assets. In the United States, acquisitions may also include data center facilities and related assets. The financial results of the Company’s acquisitions have been included in the Company’s consolidated statements of operations for the year ended December 31, 2024 from the date of the respective acquisition. The date of acquisition, and by extension the point at which the Company begins to recognize the results of an acquisition, may depend on, among other things, the receipt of contractual consents, the commencement and extent of leasing arrangements and the timing of the transfer of title or rights to the assets, which may be accomplished in phases. Communications sites acquired from communications service providers may never have been operated as a business and may instead have been utilized solely by the seller as a component of its network infrastructure. An acquisition may or may not involve the transfer of business operations or employees.

For those acquisitions accounted for as business combinations, the Company recognizes acquisition and merger related expenses in the period in which they are incurred and services are received; for transactions accounted for as asset acquisitions, these costs are capitalized as part of the purchase price. Acquisition, disposition and merger related costs may include finder’s fees, advisory, legal, accounting, valuation and other professional or consulting fees and general administrative costs directly related to completing the transaction. Integration costs include incremental and non-recurring costs necessary to convert data and systems, retain employees and otherwise enable the Company to operate acquired businesses or assets efficiently. The Company records acquisition, disposition and merger related expenses not subject to capitalization, as well as integration costs for all transactions, in Other operating expenses in the consolidated statements of operations.


	Year Ended December 31,
	2024		2023		2022
Acquisition, disposition and merger related expenses	$	3.3	$	16.9	$	57.0
Integration costs	$	8.9	$	16.3	$	45.0

During the years ended December 31, 2024, 2023 and 2022, the Company recorded net benefits of $23.4 million, $10.3 million and $11.9 million related to pre-acquisition contingencies and settlements, respectively. The year ended December 31, 2022 included acquisition and merger related costs associated with the Stonepeak Transaction (as defined in note 15).

2024 Transactions

The estimated aggregate impact of the acquisitions completed in 2024 on the Company’s revenues and gross margin for the year ended December 31, 2024 was not material to the Company’s operating results. Acquisitions completed in 2024 were included in the Company’s U.S. & Canada and Europe property segments.

Other Acquisitions—During the year ended December 31, 2024, the Company acquired a total of 55 communications sites, as well as other communications infrastructure assets, in the United States, Canada and France for an aggregate purchase price of $51.5 million. Of the aggregate purchase price, $11.9 million, inclusive of value-added tax, is reflected as a payable in the consolidated balance sheet as of December 31, 2024. These acquisitions were accounted for as asset acquisitions and are included in the table below in “Other.”

The following table summarizes the allocations of the purchase prices for the fiscal year 2024 acquisitions based upon their estimated fair value at the date of acquisition:


	Other
Current assets	$	2.7

Property and equipment	24.5
Intangible assets (1):
Tenant-related intangible assets	18.2
Network location intangible assets	4.6

Other non-current assets	3.3
Current liabilities	(0.5)

Other non-current liabilities	(1.3)
Net assets acquired	51.5

Fair value of net assets acquired	51.5


Purchase price	$	51.5

______________

(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.

In addition to the acquisitions discussed above, during the year ended December 31, 2024, the Company purchased 80 towers in connection with the AT&T transaction described in note 18 for an aggregate purchase price of $59.1 million. During the year ended December 31, 2024, the Company made 88.6 million EUR (approximately $92.8 million) of deferred payments, including post-closing adjustments, associated with the Company’s acquisition of the European and Latin American tower divisions from Telxius Telecom, S.A. in 2021 (the “Telxius Acquisition”), which is included in Deferred financing costs and other financing activities in the cash flows from financing activities in the Company’s consolidated statements of cash flows.

SUPPLEMENTAL CASH FLOW INFORMATION (Tables)

12 Months Ended

Dec. 31, 2024

Supplemental Cash Flow Elements [Abstract]

Schedule of Supplemental Cash Flow Information and Non-Cash Investing and Financing Activities

Supplemental cash flow information and non-cash investing and financing activities are as follows for the years ended December 31,:


	2024		2023		2022
Supplemental cash flow information:
Cash paid for interest	$	1,424.3	$	1,260.0	$	1,088.6
Cash paid for income taxes (net of refunds of $31.8, $31.5 and $33.9, respectively)	350.8		306.5		322.3
Non-cash investing and financing activities:
(Decrease) increase in accounts payable and accrued expenses for purchases of property and equipment and construction activities	(2.9)		(14.7)		27.2
Purchases of property and equipment under finance leases, perpetual easements and capital leases	21.7		31.5		33.6

Settlement of third-party debt	—		—		(7.4)
Distributions to noncontrolling interest holders	(49.9)		—		—
Contributions from noncontrolling interest holders	49.9		—		—
Contribution to equity method investment	14.6		—		—
Transfer of tower sites (1)	35.8		—		—

_______________

BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Accounts Receivable and Deferred Rent Asset (Details) - Customer Concentration Risk - Sales Revenue, Net	12 Months Ended
	Dec. 31, 2024 customer
Concentration Risk [Line Items]
Number of customers	4
Three Customers
Concentration Risk [Line Items]
Concentration risk, percentage	60.00%

LEASES (Tables)

12 Months Ended

Dec. 31, 2024

Leases [Abstract]

Schedule of Future Minimum Rental Receipts Expected Under Operating Leases

Future minimum rental receipts expected under non-cancellable operating lease agreements as of December 31, 2024, were as follows:


Fiscal Year	Amount (1) (2)
2025	$	7,749.4
2026	7,345.2
2027	7,196.5
2028	5,888.8
2029	5,536.1
Thereafter	20,040.7
Total	$	53,756.7

_______________

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

(2) Balances represent contractual amounts owned with no adjustments made for expected collectibility.

Schedule of Information About Other Lease-related Balances

Information about other lease-related balances is as follows:


	As of
	December 31, 2024		December 31, 2023
Operating leases:
Right-of-use asset	$	8,089.6	$	8,205.1

Current portion of lease liability	$	576.7	$	690.4
Lease liability	6,875.6		6,815.3
Total operating lease liability	$	7,452.3	$	7,505.7

Finance leases:
Current portion of lease liability	$	2.6	$	3.4
Lease liability	14.0		17.2
Total finance lease liability	$	16.6	$	20.6

Schedule of Components of Operating Lease Cost

The weighted-average remaining lease terms and incremental borrowing rates are as follows:


	As of
	December 31, 2024		December 31, 2023
Operating leases:
Weighted-average remaining lease term (years) (1)	14.3		11.9
Weighted-average incremental borrowing rate	6.5	%	5.5	%

Finance leases:
Weighted-average remaining lease term (years) (1)	19.2		16.2
Weighted-average incremental borrowing rate	7.9	%	7.4	%

_______________

(1) As of December 31, 2024, reflects the change in estimated useful lives as described in note 1.

The following table sets forth the components of lease cost for the years ended December 31,:


	2024		2023		2022
Operating lease cost	$	994.2	$	1,084.1	$	1,059.1
Variable lease costs not included in lease liability (1)	489.2		434.5		375.3

_______________

(1) Primarily includes property tax paid on behalf of the landlord.

Supplemental cash flow information is as follows for the years ended December 31,:


	2024		2023		2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	(1,202.7)	$	(1,264.8)	$	(1,228.1)
Operating cash flows from finance leases	$	(1.0)	$	(1.1)	$	(1.1)
Financing cash flows from finance leases	$	(4.7)	$	(6.2)	$	(6.7)

Non-cash items:
New operating leases (1)	$	230.0	$	245.7	$	402.4
Operating lease modifications and reassessments (2)	$	859.9	$	405.9	$	80.5
Reduction of operating lease liability due to the ATC TIPL Transaction	$	(766.4)	$	—	$	—

_______________

(1) Amount includes new operating leases and leases acquired in connection with acquisitions.

(2) For the year ended December 31, 2024, reflects the change in estimated useful lives as described in note 1.

Schedule of Maturities of Operating Lease Liabilities

Maturities of operating and finance lease liabilities as of December 31, 2024 were as follows:


Fiscal Year	Operating Lease (1)		Finance Lease (1)
2025	$	986.9	$	4.2
2026	924.9		2.6
2027	886.1		2.1
2028	843.4		1.6
2029	801.7		1.2
Thereafter	7,088.1		19.5
Total lease payments	11,531.1		31.2
Less amounts representing interest	(4,078.8)		(14.6)
Total lease liability	7,452.3		16.6
Less current portion of lease liability	576.7		2.6
Non-current lease liability	$	6,875.6	$	14.0

_______________

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

Schedule of Maturities of Finance Lease Liabilities

Maturities of operating and finance lease liabilities as of December 31, 2024 were as follows:


Fiscal Year	Operating Lease (1)		Finance Lease (1)
2025	$	986.9	$	4.2
2026	924.9		2.6
2027	886.1		2.1
2028	843.4		1.6
2029	801.7		1.2
Thereafter	7,088.1		19.5
Total lease payments	11,531.1		31.2
Less amounts representing interest	(4,078.8)		(14.6)
Total lease liability	7,452.3		16.6
Less current portion of lease liability	576.7		2.6
Non-current lease liability	$	6,875.6	$	14.0

_______________

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

ACQUISITIONS - Schedule of Allocation of Purchase Price for Asset Acquisitions (Details) - Acquisitions 2022 $ in Millions	12 Months Ended
	Dec. 31, 2024 USD ($)
Other
Current assets	$ 2.7
Property and equipment	24.5
Other non-current assets	3.3
Current liabilities	(0.5)
Other non-current liabilities	(1.3)
Net assets acquired	51.5
Fair value of net assets acquired	51.5
Purchase price	51.5
Tenant-related intangible assets
Other
Intangible assets	18.2
Network location intangible assets
Other
Intangible assets	$ 4.6

GOODWILL AND OTHER INTANGIBLE ASSETS - Expected Future Amortization Expenses (Details) $ in Millions	Dec. 31, 2024 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2025	$ 847.1
2026	812.6
2027	797.0
2028	788.0
2029	$ 771.4

BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Net Foreign Currency Losses (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Foreign currency losses (gains) recorded in AOCL	$ 660.8	$ (103.9)	$ 336.7
Foreign currency (gains) losses recorded in Other expense	(308.3)	330.6	(451.4)
Total foreign currency losses (gains)	$ 352.5	$ 226.7	$ (114.7)

GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)

12 Months Ended

Dec. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Changes in the Carrying Value of Goodwill

The changes in the carrying value of goodwill for each of the Company’s business segments were as follows:


	Property								Services		Total
	U.S. & Canada		Africa & APAC (1)		Europe		Latin America						Data Centers
Balance as of December 31, 2022	$	4,637.5	$	556.1	$	3,044.0	$	915.5	$	2,920.0	$	2.0		$	12,075.1
Impairments (2)	—		—		(80.0)		—		—		—			(80.0)
Other (3)	—		—		—		(20.7)		—		—			(20.7)
Effect of foreign currency translation	1.1		(51.2)		87.9		71.3		—		—			109.1
Balance as of December 31, 2023	$	4,638.6	$	504.9	$	3,051.9	$	966.1	$	2,920.0	$	2.0		$	12,083.5



Effect of foreign currency translation	(3.9)		11.6		(189.6)		(133.5)		—		—			(315.4)
Balance as of December 31, 2024	$	4,634.7	$	516.5	$	2,862.3	$	832.6	$	2,920.0	$	2.0		$	11,768.1

_______________

(1) Excludes goodwill associated with the India reporting unit, which is reported as discontinued operations. See note 22 for further discussion.

(2) Includes $80.0 million of goodwill impairments associated with the Spain reporting unit.

(3) Other represents the goodwill associated with the sale of one of our subsidiaries in Mexico that held fiber assets (“Mexico Fiber”), which was sold during the year ended December 31, 2023.

Schedule of Other Intangible Assets Subject to Amortization

The Company’s other intangible assets subject to amortization consisted of the following:


		As of December 31, 2024						As of December 31, 2023
	Estimated Useful Lives (years) (1)	Gross Carrying Value		Accumulated Amortization		Net Book Value		Gross Carrying Value		Accumulated Amortization		Net Book Value
Acquired network location intangibles (2)	Up to 30	$	5,365.4	$	(2,659.8)	$	2,705.6	$	5,584.9	$	(2,622.8)	$	2,962.1
Acquired tenant-related intangibles	Up to 30	17,666.0		(6,823.7)		10,842.3		18,328.3		(6,477.1)		11,851.2
Acquired licenses and other intangibles	2-30	1,406.8		(480.4)		926.4		1,560.7		(441.7)		1,119.0
Total other intangible assets		$	24,438.2	$	(9,963.9)	$	14,474.3	$	25,473.9	$	(9,541.6)	$	15,932.3

_______________

(1) As of December 31, 2024, reflects the change in estimated useful lives as described in note 1.

(2) Beginning January 1, 2024, acquired network location intangibles are amortized over the remaining estimated useful life of the tower, taking into account residual value, generally up to 30 years, as the Company considers these intangibles to be directly related to the tower assets. Prior to January 1, 2024, acquired network location intangibles were amortized over the shorter of the term of the corresponding ground lease, taking into consideration lease renewal options and residual value, or the estimated useful life of the tower, generally up to 20 years.

Schedule of Expected Future Amortization Expenses

Based on current exchange rates, the Company expects to record amortization expense as follows over the next five years:


Fiscal Year	Amount
2025	$	847.1
2026	812.6
2027	797.0
2028	788.0
2029	771.4

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482548/350-20-55-24

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
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-Paragraph 1
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Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
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-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
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-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
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Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
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Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
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-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1A

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-2

+ Details

Cover - USD ($) $ in Billions	12 Months Ended
Cover - USD ($) $ in Billions	Dec. 31, 2024	Feb. 18, 2025	Jun. 30, 2024
Document Information [Line Items]
Document Type	10-K
Document Annual Report	true
Current Fiscal Year End Date	--12-31
Document Period End Date	Dec. 31, 2024
Document Transition Report	false
Entity File Number	001-14195
Entity Registrant Name	American Tower Corporation
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	65-0723837
Entity Address, Address Line One	116 Huntington Avenue
Entity Address, City or Town	Boston
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	02116
City Area Code	617
Local Phone Number	375-7500
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Document Financial Statement Error Correction [Flag]	false
Entity Public Float			$ 90.7
Entity Common Stock, Shares Outstanding		467,457,256
Documents Incorporated by Reference	Portions of the definitive proxy statement (the “Definitive Proxy Statement”) to be filed with the Securities and Exchange Commission relative to the registrant’s 2025 Annual Meeting of Stockholders are incorporated by reference into Part III of this Report.
Entity Central Index Key	0001053507
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	FY
Amendment Flag	false
Common Stock
Document Information [Line Items]
Title of 12(b) Security	Common Stock, $0.01 par value
Trading Symbol	AMT
Security Exchange Name	NYSE
1.375% senior notes
Document Information [Line Items]
Title of 12(b) Security	1.375% Senior Notes due 2025
Trading Symbol	AMT 25A
Security Exchange Name	NYSE
1.950% senior notes
Document Information [Line Items]
Title of 12(b) Security	1.950% Senior Notes due 2026
Trading Symbol	AMT 26B
Security Exchange Name	NYSE
0.450% senior notes
Document Information [Line Items]
Title of 12(b) Security	0.450% Senior Notes due 2027
Trading Symbol	AMT 27C
Security Exchange Name	NYSE
0.400% senior notes
Document Information [Line Items]
Title of 12(b) Security	0.400% Senior Notes due 2027
Trading Symbol	AMT 27D
Security Exchange Name	NYSE
4.125% Senior Notes
Document Information [Line Items]
Title of 12(b) Security	4.125% Senior Notes due 2027
Trading Symbol	AMT 27F
Security Exchange Name	NYSE
0.500% senior notes
Document Information [Line Items]
Title of 12(b) Security	0.500% Senior Notes due 2028
Trading Symbol	AMT 28A
Security Exchange Name	NYSE
0.875% senior notes
Document Information [Line Items]
Title of 12(b) Security	0.875% Senior Notes due 2029
Trading Symbol	AMT 29B
Security Exchange Name	NYSE
0.950% senior notes
Document Information [Line Items]
Title of 12(b) Security	0.950% Senior Notes due 2030
Trading Symbol	AMT 30C
Security Exchange Name	NYSE
3.900% Senior Notes, Due 2030 [Member]
Document Information [Line Items]
Title of 12(b) Security	3.900% Senior Notes due 2030
Trading Symbol	AMT 30D
Security Exchange Name	NYSE
4.625% Notes
Document Information [Line Items]
Title of 12(b) Security	4.625% Senior Notes due 2031
Trading Symbol	AMT 31B
Security Exchange Name	NYSE
1.000% Notes
Document Information [Line Items]
Title of 12(b) Security	1.000% Senior Notes due 2032
Trading Symbol	AMT 32
Security Exchange Name	NYSE
1.250% senior notes
Document Information [Line Items]
Title of 12(b) Security	1.250% Senior Notes due 2033
Trading Symbol	AMT 33
Security Exchange Name	NYSE
4.100% Senior Notes, Due 2034
Document Information [Line Items]
Title of 12(b) Security	4.100% Senior Notes due 2034
Trading Symbol	AMT 34A
Security Exchange Name	NYSE

STOCK-BASED COMPENSATION

12 Months Ended

Dec. 31, 2024

Share-Based Payment Arrangement [Abstract]

STOCK-BASED COMPENSATION

Summary of Stock-Based Compensation Plans—The Company maintains equity incentive plans that provide for the grant of stock-based awards to its directors, officers and employees. The Company’s 2007 Equity Incentive Plan, as amended (the “2007 Plan”), provides for the grant of non-qualified and incentive stock options, as well as restricted stock units, restricted stock and other stock-based awards. Exercise prices for non-qualified and incentive stock options are not less than the fair value of the underlying common stock on the date of grant. Equity awards typically vest ratably. Awards granted prior to March 10, 2023 generally vest over four years for RSUs and stock options. In December 2022, the Company’s Compensation Committee changed the terms of its awards to generally vest over three years. The change in vesting terms is applicable for new awards granted beginning on March 10, 2023 and does not change the vesting terms applicable to grants awarded prior to March 10, 2023. PSUs generally vest over three years. Stock options generally expire ten years from the date of grant. As of December 31, 2024, the Company had the ability to grant stock-based awards with respect to an aggregate of 3.3 million shares of common stock under the 2007 Plan. In addition, the Company maintains an employee stock purchase plan (the “ESPP”) pursuant to which eligible employees may purchase shares of the Company’s common stock on the last day of each bi-annual offering period at a 15% discount from the lower of the closing market value on the first or last day of such offering period. The offering periods run from June 1 through November 30 and from December 1 through May 31 of each year.

During the years ended December 31, 2024, 2023 and 2022, the Company recorded the following stock-based compensation expenses in selling, general, administrative and development expense:


	2024 (2)		2023 (3)		2022
Stock-based compensation expense (1)	$	192.7	$	183.3	$	161.7

_______________

(1)For the years ended December 31, 2024, 2023 and 2022, excludes $10.9 million, $12.4 million, and $7.6 million, respectively, of stock-based compensation expense related to ATC TIPL, which is included in Loss from discontinued operations, net of taxes in the accompanying consolidated statements of operations.

(2)For the year ended December 31, 2024, includes $11.5 million of accelerated stock-based compensation expense related to unvested and outstanding awards for certain former employees that vested upon termination in accordance with the Company’s severance plan.

(3)For the year ended December 31, 2023, excludes $7.6 million of stock-based compensation expense related to severance incurred as part of the Company’s restructuring plan as discussed in note 16 recorded in Other operating expense in the accompanying consolidated statements of operations.

Stock Options—There were no options granted during the years ended December 31, 2024, 2023 and 2022. The fair values of previously granted stock options were estimated on the date of grant using the Black-Scholes option pricing model based on the assumptions at the date of grant.

The intrinsic value of stock options exercised during the years ended December 31, 2024, 2023 and 2022 was $43.3 million, $9.3 million and $34.3 million, respectively. As of December 31, 2024, there was no unrecognized compensation expense related to unvested stock options. The amount of cash received from the exercise of stock options was $31.3 million during the year ended December 31, 2024.

The Company’s option activity for the year ended December 31, 2024 was as follows (share and per share data disclosed in full amounts):


	Options	Weighted Average Exercise Price Per Share		Weighted Average Remaining Life (Years)	Aggregate Intrinsic Value
Outstanding as of January 1, 2024	766,955	$	92.33
Granted	—	—
Exercised	(350,283)	89.40
Forfeited	—	—
Expired	—	—
Outstanding as of December 31, 2024	416,672	$	94.79	0.75	$	36.9
Exercisable as of December 31, 2024	416,672	$	94.79	0.75	$	36.9
Vested as of December 31, 2024	416,672	$	94.79	0.75	$	36.9

The following table sets forth information regarding options outstanding at December 31, 2024 (share and per share data disclosed in full amounts):


Options Outstanding					Options Exercisable
Range of Exercise Price Per Share	Outstanding Number of Options	Weighted Average Exercise Price Per Share		Weighted Average Remaining Life (Years)	Options Exercisable	Weighted Average Exercise Price Per Share

$88.38 - $94.23	3,933	$	90.86	0.61	3,933	$	90.86
$94.57 - $94.71	408,258	94.65		0.74	408,258	94.65
$106.15 - $113.60	4,481	110.80		1.77	4,481	110.80
$88.38 - $113.60	416,672	$	94.79	0.75	416,672	$	94.79

Restricted Stock Units and Performance-Based Restricted Stock Units—The Company’s RSU and PSU activity for the year ended December 31, 2024 was as follows (share and per share data disclosed in full amounts):


	RSUs	Weighted Average Grant Date Fair Value		PSUs	Weighted Average Grant Date Fair Value
Outstanding as of January 1, 2024 (1)	1,638,711	$	210.94	363,488	$	208.14
Granted (2)	698,626	207.27		122,042	215.46

Vested and Released (3)	(822,455)	212.91		(144,925)	205.38
Forfeited	(54,180)	210.80		(1,337)	187.01
Outstanding as of December 31, 2024	1,460,702	$	208.09	339,268	$	212.03
Expected to vest as of December 31, 2024	1,460,702	$	208.09	339,268	$	212.03
Vested and deferred as of December 31, 2024 (4)	21,078	$	215.27	—	$	—

_______________

(1)PSUs consist of the target number of shares issuable at the end of the three-year performance period for the 2023 PSUs and the 2022 PSUs (each as defined below), or 118,684 shares and 98,542 shares, respectively, the shares issuable at the end of the three-year performance period for the PSUs granted in 2021 (the “2021 PSUs”) based on achievement against the performance metrics for the three-year performance period, or 127,318 shares and the target remaining number of shares issuable at the end of the one-year performance period for PSUs granted to certain non-executive employees during the year ended December 31, 2023, net of forfeitures, or 18,944 shares (the “Retention PSUs”).

(2)PSUs consist of the target number of shares issuable at the end of the three-year performance period for the 2024 PSUs (as defined below), or 87,550 shares. PSUs also include the shares above target that are issuable for the 2022 PSUs at the end of the three-year performance cycle based on exceeding the performance metric for the three-year performance period, or 34,492 shares.

(3)RSUs include 63,905 shares accelerated related to the ATC TIPL Transaction. PSUs consist of shares vested pursuant to the 2021 PSUs and the Retention PSUs. There are no additional shares to be earned related to the 2021 PSUs or the Retention PSUs.

(4)Vested and deferred RSUs are related to deferred compensation for certain former employees.

The total fair value of RSUs and PSUs that vested during the year ended December 31, 2024 was $201.8 million.

Restricted Stock Units—As of December 31, 2024, total unrecognized compensation expense related to unvested RSUs granted under the 2007 Plan was $138.9 million and is expected to be recognized over a weighted average period of approximately two years. Vesting of RSUs is subject generally to the employee’s continued employment or death, disability or qualified retirement (each as defined in the applicable RSU award agreement).

Performance-Based Restricted Stock Units—During the year ended December 31, 2024, the Company’s Compensation Committee (the “Compensation Committee”) granted an aggregate of 87,550 PSUs (the “2024 PSUs”) to its executive officers and established the performance and market metrics for these awards. During the years ended December 31, 2023 and 2022, the Company’s Compensation Committee granted an aggregate of 118,684 PSUs (the “2023 PSUs”) and 98,542 PSUs (the “2022 PSUs”), respectively, to its executive officers and established the performance metrics for these awards.

Threshold, target and maximum parameters were established for the metrics for a three-year performance period with respect to each of the 2024 PSUs, the 2023 PSUs and the 2022 PSUs and will be used to calculate the number of shares that will be issuable when each award vests, which may range from zero to 200% of the target amounts. At the end of each three-year performance period, the number of shares that vest will depend on the degree of achievement against the pre-established goals. PSUs will be paid out in common stock at the end of each performance period, subject generally to the executive’s continued employment or death, disability or qualified retirement (each as defined in the applicable PSU award agreement). PSUs will accrue dividend equivalents prior to vesting, which will be paid out only in respect of shares that actually vest.

The 2024 PSUs include a market condition component based on relative total shareholder return as measured against the REIT constituents included in the S&P 500 Index. For the component of the 2024 PSUs subject to a market condition, fair value is

determined using a Monte Carlo simulation model, which uses multiple input variables to determine the probability of satisfying the market condition requirements. The grant date fair value of the market condition component of the 2024 PSUs is $216.11.

Key assumptions used to apply this pricing model were as follows:


	Year Ended December 31, 2024

Expected term (years)	2.81
Risk-free interest rate	4.31	%
Annualized volatility	26.75	%

During the year ended December 31, 2024, the Company recorded $33.7 million in stock-based compensation expense for equity awards in which the performance goals have been established and were probable of being achieved. The remaining unrecognized compensation expense related to these awards at December 31, 2024 was $4.4 million based on the Company’s current assessment of the probability of achieving the performance goals. The weighted-average period over which the cost will be recognized is less than one year.

ATC TIPL Transaction— Upon completion of the ATC TIPL Transaction, RSUs granted to certain employees in India that were unvested and outstanding immediately vested. The Company recognized $5.3 million of accelerated stock-based compensation expense for these awards during the year ended December 31, 2024, which is included in Loss from discontinued operations, net of taxes.

BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Business	Business—American Tower Corporation (together with its subsidiaries, “ATC” or the “Company”) is one of the largest global real estate investment trusts and a leading independent owner, operator and developer of multitenant communications real estate. The Company’s primary business is the leasing of space on communications sites to wireless service providers, radio and television broadcast companies, wireless data providers, government agencies and municipalities and tenants in a number of other industries. The Company refers to this business, inclusive of its data center business discussed below, as its property operations. Additionally, the Company offers tower-related services in the United States, which the Company refers to as its services operations. These services include site application, zoning and permitting (“AZP”), structural and mount analyses, and construction management, which primarily support the Company’s site leasing business, including the addition of new tenants and equipment on its sites. The Company’s customers include its tenants, licensees and other payers. The Company’s portfolio primarily consists of towers that it owns and towers that it operates pursuant to long-term lease arrangements, as well as distributed antenna system (“DAS”) networks, which provide seamless coverage solutions in certain in-building and outdoor wireless environments. In addition to the communications sites in its portfolio, the Company manages rooftop and tower sites for property owners under various contractual arrangements. The Company also holds other telecommunications infrastructure, fiber and property interests that it leases primarily to communications service providers and third-party tower operators and holds a portfolio of highly interconnected data center facilities and related assets in the United States that the Company provides for the leasing of space primarily to enterprises, network operators, cloud providers and supporting service providers. American Tower Corporation is a holding company that conducts its operations through its directly and indirectly owned subsidiaries and joint ventures. ATC’s principal domestic operating subsidiaries are American Towers LLC and SpectraSite Communications, LLC. ATC conducts its international operations primarily through its subsidiary, American Tower International, Inc., which in turn conducts operations through its various international holding and operating subsidiaries and joint ventures. The Company operates as a real estate investment trust for U.S. federal income tax purposes (“REIT”). Accordingly, the Company generally is not required to pay U.S. federal income taxes on income generated by its REIT operations, including the income derived from leasing space on its towers and in its data centers, as it receives a dividends paid deduction for distributions to stockholders that offsets its REIT taxable income and gains. However, the Company remains obligated to pay U.S. federal income taxes on earnings from its domestic taxable REIT subsidiaries (“TRSs”). In addition, the Company’s international assets and operations, regardless of their classification for U.S. tax purposes, continue to be subject to taxation in the jurisdictions where those assets are held or those operations are conducted. The use of TRSs enables the Company to continue to engage in certain businesses and jurisdictions while complying with REIT qualification requirements. The Company may, from time to time, change the election of previously designated TRSs to be included as part of the REIT. As of December 31, 2024, the Company’s REIT-qualified businesses included its U.S. tower leasing business, a majority of its U.S. DAS networks business, its Services and Data Centers segments, as well as most of its operations in Canada, Costa Rica, France, Germany, Ghana, Kenya, Mexico, Nigeria, South Africa, Spain and Uganda.
Principles of Consolidation and Basis of Presentation	Principles of Consolidation and Basis of Presentation—The accompanying consolidated financial statements include the accounts of the Company and those entities in which it has a controlling interest. Investments in entities that the Company does not control are accounted for using the equity method or as investments in equity securities, depending upon the Company’s ability to exercise significant influence over operating and financial policies. All intercompany accounts and transactions have been eliminated.
Change in Reportable Segments	Change in Reportable Segments—During the fourth quarter of 2024, following recent divestitures, including the ATC TIPL Transaction, and changes to its organizational structure, the Company reviewed and changed its reportable segments. The Company’s Asia-Pacific (“APAC”) property segment and its Africa property segment were combined into the Africa & APAC property segment. As a result, the Company has six reportable segments: U.S. & Canada property (which includes all assets in the United States and Canada, other than the Company’s data center facilities and related assets), Africa & APAC property, Europe property, Latin America property, Data Centers and Services, which are discussed further in note 20. The change in reportable segments had no impact on the Company’s consolidated financial statements for any periods. Historical financial information included in this Annual Report on Form 10-K has been adjusted to reflect the change in reportable segments. Prior to the change in reportable segments in the fourth quarter of 2024, the Company reported its results in seven segments: U.S. & Canada property, Asia-Pacific property, Africa property, Europe property, Latin America property, Data Centers and Services.
Significant Accounting Policies and Use of Estimates	Significant Accounting Policies and Use of Estimates—The preparation of financial statements in conformity with accounting principles generally accepted in the United States (“GAAP”) requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results may differ from those estimates, and such differences could be material to the accompanying consolidated financial statements. The significant estimates in the accompanying consolidated financial statements include impairment of long-lived assets (including goodwill), revenue recognition, rent expense and lease accounting, income taxes and accounting for business combinations and acquisitions of assets. The Company considers events or transactions that occur after the balance sheet date but before the financial statements are issued as additional evidence for certain estimates or to identify matters that require additional disclosure.
Assets Held For Sale	Assets Held for Sale—The Company considers long-lived assets to be “held for sale” upon satisfaction of the following criteria: (a) management commits to a plan to sell an asset (or group of assets), (b) the asset is available for immediate sale in its present condition subject only to terms that are usual and customary for sales of such assets, (c) an active program to locate a buyer and other actions required to complete the plan to sell the asset have been initiated, (d) the sale of the asset is probable and transfer of the asset is expected to be completed within one year, (e) the asset is being actively marketed for sale at a price that is reasonable in relation to its current fair value and (f) actions required to complete the plan indicate that it is unlikely that significant changes to the plan will be made or that the plan will be withdrawn. Typically, these criteria are all met when the relevant assets are under contract, significant non-refundable deposits have been made by the potential buyer, the assets are immediately available for transfer and there are no contingencies related to the sale that may prevent the transaction from closing. Assets classified as held for sale are reported at the lesser of the carrying value, or estimated fair value, less estimated costs to sell and are not depreciated. The Company reassesses the fair value less costs to sell of assets held for sale in each reporting period in which they are classified as held for sale. Gains (losses) on held for sale assets are recorded in Other operating income in the accompanying consolidated statements of operations.
Discontinued Operations	Discontinued Operations—The Company classifies the results of operations related to a disposal of assets and liabilities (“the disposal group”) in discontinued operations in the consolidated statements of operations if all of the following criteria are met: (a) the operations and cash flows of the disposal group can be clearly distinguished from the rest of the Company, (b) the disposal group meets the criteria to be classified as held for sale (as described above) or has been sold or disposed of by other means and (c) the disposal represents a strategic shift that has or will have a major effect on the Company’s operations and financial results. The results of operations classified as discontinued operations are reported in Loss from discontinued operations, net of taxes in the accompanying consolidated statements of operations for all periods presented. Historical financial information included in the notes to the consolidated financial statements is adjusted to reflect the classification of results of operations as discontinued operations.
Accounts Receivable and Deferred Rent Asset	Accounts Receivable and Deferred Rent Asset—The Company derives the largest portion of its revenues and corresponding accounts receivable and the related deferred rent asset from a relatively small number of customers in the telecommunications industry, and 60% of its current-year revenues are derived from four customers. The Company’s deferred rent asset is associated with non-cancellable tenant leases that contain fixed escalation clauses over the terms of the applicable lease for which revenue is recognized on a straight-line basis over the lease term. The Company mitigates its concentrations of credit risk with respect to trade receivables and the related deferred rent assets by actively monitoring the creditworthiness of its customers. In recognizing customer revenue, the Company assesses the collectibility of both the amounts billed and the portion recognized in advance of billing on a straight-line basis. This assessment takes customer credit risk and business and industry conditions into consideration to ultimately determine the collectibility of the amounts billed. To the extent the amounts, based on management’s estimates, may not be collectible, revenue recognition is deferred until such point as collectibility is determined to be reasonably assured. Any amounts that were previously recognized as revenue and are subsequently determined to present a risk of collection are reserved as bad debt expense included in Selling, general, administrative and development expense in the accompanying consolidated statements of operations. Accounts receivable is reported net of allowances for doubtful accounts related to estimated losses resulting from a customer’s inability to make required payments and allowances for amounts invoiced whose collectibility is not reasonably assured. These allowances are generally estimated based on payment patterns, days past due and collection history, and incorporate changes in economic conditions that may not be reflected in historical trends, such as customers in bankruptcy, liquidation or reorganization. Receivables are written-off against the allowances or reserves when they are determined to be uncollectible. Such determination includes analysis and consideration of the particular conditions of the account.
Functional Currency	Functional Currency—The functional currency of each of the Company’s foreign operating subsidiaries is normally the respective local currency, except for Argentina, Costa Rica, Ghana and Nigeria, where the functional currency is the U.S. Dollar. All foreign currency assets and liabilities held by the subsidiaries are translated into U.S. Dollars at the exchange rate in effect at the end of the applicable fiscal reporting period and all foreign currency revenues and expenses are translated at the average monthly exchange rates. Translation adjustments are reflected in equity as a component of Accumulated other comprehensive loss (“AOCL”) in the consolidated balance sheets and included as a component of Comprehensive income in the consolidated statements of comprehensive income. Gains and losses on foreign currency transactions are reflected in Other expense in the consolidated statements of operations. However, the effect from fluctuations in foreign currency exchange rates on intercompany debt for which repayment is not anticipated in the foreseeable future is reflected in AOCL in the consolidated balance sheets and included as a component of Comprehensive income.
Cash and Cash Equivalents	Cash and Cash Equivalents—Cash and cash equivalents include cash on hand, demand deposits and short-term investments with original maturities of three months or less. The Company maintains its deposits at high-quality financial institutions and monitors the credit ratings of those institutions.
Restricted Cash	Restricted Cash—Restricted cash includes cash pledged as collateral to secure obligations and all cash whose use is otherwise limited by contractual provisions.
Property and Equipment	Property and Equipment—Property and equipment is recorded at cost or, in the case of acquired properties, at estimated fair value on the date acquired. Cost for self-constructed sites includes direct materials and labor and certain indirect costs associated with construction of the site, such as transportation costs, employee benefits and payroll taxes. The Company begins the capitalization of costs during the pre-construction period, which is the period during which costs are incurred to evaluate the site, and continues to capitalize costs until the site is substantially completed and ready for occupancy by a customer. Labor and related costs capitalized for the years ended December 31, 2024, 2023 and 2022 were $67.4 million, $62.1 million and $62.4 million, respectively. Expenditures for repairs and maintenance are expensed as incurred. Augmentation and improvements that extend an asset’s useful life or enhance capacity are capitalized. Depreciation expense is recorded using the straight-line method over the assets’ estimated useful lives. The Company finalized its review of the estimated useful lives of its tower assets during the first quarter of 2024. The Company now has over 20 years of operating history, and determined that it should modify its current estimates for asset lives based on its historical operating experience. The Company retained an independent consultant to assist the Company in completing this review and analysis. The Company previously depreciated its towers on a straight-line basis over the shorter of the term of the underlying ground lease (including renewal options) taking into account residual value or the estimated useful life of the tower, which the Company had historically estimated to be 20 years. The Company determined that the estimated useful life of its tower assets is 30 years, before taking into account residual value. Additionally, certain of the Company’s intangible assets are amortized on a similar basis to its tower assets, as the estimated useful lives of such intangible assets correlate to the useful life of the towers. The Company accounted for the changes in the useful lives as a change in accounting estimate under ASC 250 Accounting Changes and Error Corrections, which were recorded prospectively beginning on January 1, 2024. On January 1, 2024, the Company began depreciating its towers and related intangible assets on a straight-line basis over the remaining estimated useful life of the tower, taking into account the extended useful life and residual value. The extension of the asset lives (i) resulted in an approximately $515 million increase in the right of use asset, as additional renewal options may be included, with an offsetting adjustment made to increase the related operating lease liability and (ii) resulted in an estimated $730 million ($649 million after tax, or an increase of $1.39 per diluted share) decrease in depreciation and amortization expense for the year ended December 31, 2024. Towers or assets acquired through finance leases are recorded net at the present value of future minimum lease payments or the fair value of the leased asset at the inception of the lease. Property and equipment and assets held under finance leases are amortized over the shorter of the applicable lease term or the estimated useful life of the respective assets for periods generally not exceeding thirty years. The Company reviews its asset portfolio for indicators of impairment on an individual site basis. Impairments primarily result from a site not having current tenant leases or from having expenses in excess of revenues. The Company reviews other long-lived assets for impairment whenever events, changes in circumstances or other evidence indicate that the carrying amount of the Company’s assets may not be recoverable. The Company records impairment charges, which are discussed in note 16, in Other operating expenses in the consolidated statements of operations in the period in which the Company identifies such impairment.
Goodwill and Other Intangible Assets	Goodwill and Other Intangible Assets—The Company reviews goodwill for impairment at least annually (as of December 31) or whenever events or circumstances indicate the carrying value of an asset may not be recoverable. Goodwill is recorded in the applicable segment and assessed for impairment at the reporting unit level. The Company employs a discounted cash flow analysis when testing goodwill for impairment. The key assumptions utilized in the discounted cash flow analysis include current operating performance, terminal revenue growth rate, management’s expectations of future operating results and cash requirements, the current weighted average cost of capital and an expected tax rate. The Company compares the fair value of the reporting unit, as calculated under an income approach using future discounted cash flows, to the carrying amount of the applicable reporting unit. If the carrying amount exceeds the fair value, an impairment loss would be recognized for the amount of the excess. The loss recognized is limited to the total amount of goodwill allocated to that reporting unit. During the year ended December 31, 2023, the Company concluded that a triggering event occurred with respect to its India reporting unit. As a result, the Company performed a goodwill impairment test based on information observed during its review of strategic alternatives for this reporting unit. The result of the Company’s goodwill impairment test indicated that the carrying amount of the Company's India reporting unit exceeded its estimated fair value. As a result, the Company recorded a goodwill impairment charge of $322.0 million during the quarter ended September 30, 2023, which is recorded in Loss from discontinued operations in the accompanying consolidated statements of operations for the year ended December 31, 2023. The results of the annual goodwill impairment test as of December 31, 2023 indicated that the carrying amount of the Company’s Spain reporting unit exceeded its estimated fair value. As a result, the Company recorded a goodwill impairment charge of $80.0 million. The goodwill impairment charge for the Spain reporting unit is recorded in Goodwill impairment in the accompanying consolidated statements of operations for the year ended December 31, 2023. During the years ended December 31, 2024, 2023 and 2022, no other goodwill impairment was identified, as the fair value of each of the reporting units was in excess of its carrying amount. Intangible assets that are separable from goodwill and are deemed to have a definite life are amortized over their useful lives, generally ranging from two to thirty years and are evaluated separately for impairment at least annually or whenever events or circumstances indicate that the carrying amount of an asset may not be recoverable. The Company reviews its network location intangible assets for indicators of impairment on an individual tower basis. Impairments primarily result from a site not having current tenant leases or from having expenses in excess of revenues. The Company monitors its tenant-related intangible assets on a tenant by tenant basis for indicators of impairment, such as high levels of turnover or attrition, the customer’s ability to meet its contractual obligations, non-renewal of a significant number of contracts or the cancellation or termination of a relationship. The Company assesses recoverability by determining whether the carrying amount of the related assets will be recovered primarily through projected undiscounted future cash flows. If the Company determines that the carrying amount of an asset may not be recoverable, the Company measures any impairment loss based on the projected future discounted cash flows to be provided from the asset or available market information relative to the asset’s fair value, as compared to the asset’s carrying amount. The Company records impairment charges, which are discussed in note 16, in Other operating expenses in the consolidated statements of operations in the period in which the Company identifies such impairment.
Fair Value Measurements	Fair Value Measurements—The Company determines the fair value of its financial instruments based on the fair value hierarchy, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value.
Asset Retirement Obligations	Asset Retirement Obligations—When required, the Company recognizes the fair value of obligations to remove its assets and remediate the leased space upon which certain of its assets are located. Generally, the associated retirement costs are capitalized as part of the carrying amount of the related assets and depreciated over their estimated useful lives and the liability is accreted through the obligation’s estimated settlement date. Fair value estimates of asset retirement obligations generally involve discounting of estimated future cash flows associated with remediation costs. Periodic accretion of such liabilities due to the passage of time is included in Depreciation, amortization and accretion expense in the consolidated statements of operations. Adjustments are also made to the asset retirement obligation liability to reflect changes in the estimates of timing and amount of expected cash flows, with an offsetting adjustment made to the related long-lived tangible asset. The significant assumptions used in estimating the Company’s aggregate asset retirement obligation are: timing of asset removals; cost of asset removals; timing and number of site lease renewals; expected inflation rates; and credit-adjusted, risk-free interest rates that approximate the Company’s incremental borrowing rate. The Company finalized its review of the estimated settlement dates for its asset retirement obligations during the first quarter of 2024. The Company now has over 20 years of operating history, and determined that it should modify its current estimated settlement dates based on its historical operating experience, management’s intent with respect to the assets, and the assets’ estimated useful lives. Based on its review and analysis, the Company concluded that a revision in the estimated settlement dates for its asset retirement obligations was appropriate. The Company accounted for the change in estimated settlement dates as a change in accounting estimate under ASC 250 Accounting Changes and Error Corrections, which was recorded prospectively beginning on January 1, 2024. The extension in the estimated settlement dates (i) resulted in a $470 million increase in the asset retirement obligation liability, with an offsetting adjustment made to the related long-lived tangible asset and an $875 million increase in the estimated undiscounted future cash outlay for asset retirement obligations, and (ii) resulted in an estimated $75 million decrease in accretion expense for the year ended December 31, 2024.
Income Taxes	Income Taxes—As a REIT, the Company generally is not subject to U.S. federal income taxes on income generated by its REIT operations as it receives a dividends paid deduction for distributions to stockholders that generally offsets its REIT income and gains. However, the Company remains obligated to pay U.S. federal income taxes on certain earnings and continues to be subject to taxation in its foreign jurisdictions. Accordingly, the consolidated financial statements reflect provisions for federal, state, local and foreign income taxes. The Company recognizes deferred tax assets and liabilities for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis, as well as operating loss and tax credit carryforwards. The Company measures deferred tax assets and liabilities using enacted tax rates expected to apply to taxable income in the years in which those temporary differences and carryforwards are expected to be recovered or settled. The effect on deferred tax assets and liabilities as a result of a change in tax rates is recognized in income in the period that includes the enactment date. The Company periodically reviews its deferred tax assets, and provides valuation allowances if, based on the available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized. Management assesses the available positive and negative evidence to estimate if sufficient future taxable income will be generated to use the existing deferred tax assets. Valuation allowances would be reversed as a reduction to the provision for income taxes if related deferred tax assets are deemed realizable based on changes in facts and circumstances relevant to the assets’ recoverability. The Company estimates the liabilities from uncertain tax positions, which are recorded in Other non-current liabilities in the consolidated balance sheet, unless expected to be paid within one year. The Company reports penalties and tax-related interest expense and interest income from tax refunds as a component of the income tax provision in the consolidated statements of operations.
Other Comprehensive Income (Loss)	Other Comprehensive Income (Loss)—Other comprehensive income (loss) refers to items excluded from net income that are recorded as an adjustment to equity, net of tax. The Company’s other comprehensive income (loss) primarily consisted of changes in fair value of effective derivative cash flow hedges, foreign currency translation adjustments, reclassification of unrealized losses on effective derivative cash flow hedges and other items.
Distributions	Distributions—As a REIT, the Company must annually distribute to its stockholders an amount equal to at least 90% of its REIT taxable income (determined before the deduction for distributed earnings and excluding any net capital gain). Generally, the Company has distributed, and expects to continue to distribute, all or substantially all of its REIT taxable income after taking into consideration its utilization of net operating losses (“NOLs”). The amount, timing and frequency of future distributions will be at the sole discretion of the Board of Directors and will depend upon various factors, a number of which may be beyond the Company’s control, including the Company’s financial condition and operating cash flows, the amount required to maintain its qualification for taxation as a REIT and reduce any income and excise taxes that the Company otherwise would be required to pay, limitations on distributions in the Company’s existing and future debt and preferred equity instruments, the Company’s ability to utilize NOLs to offset the Company’s distribution requirements, limitations on its ability to fund distributions using cash generated through its TRSs and other factors that the Board of Directors may deem relevant.
Acquisitions	Acquisitions—For acquisitions that meet the definition of a business combination, the Company applies the acquisition method of accounting where assets acquired and liabilities assumed are recorded at fair value at the date of each acquisition, and the results of operations are included with those of the Company from the dates of the respective acquisitions. Any excess of the purchase price paid by the Company over the amounts recognized for assets acquired and liabilities assumed is recorded as goodwill. The Company continues to evaluate acquisitions for a period not to exceed one year after the applicable acquisition date of each transaction to determine whether any additional adjustments are needed to the allocation of the purchase price paid for the assets acquired and liabilities assumed. All other acquisitions are accounted for as asset acquisitions and the purchase price is allocated to the net assets acquired with no recognition of goodwill. The purchase price is not subsequently adjusted. The fair value of the assets acquired and liabilities assumed is typically determined by using either estimates of replacement costs or discounted cash flow valuation methods. When determining the fair value of tangible assets acquired, the Company must estimate the cost to replace the asset with a new asset taking into consideration such factors as age, condition and the economic useful life and productive capacity of the asset. When determining the fair value of intangible assets acquired and liabilities assumed, the Company must estimate the timing and amount of future cash flows, including rate and terms of renewal and attrition, and apply the applicable discount rate.
Revenue	Revenue—The Company’s revenue is derived from leasing the right to use its communications sites, the land on which the sites are located, the land underlying its customers’ sites and the space in its data center facilities (the “lease component”) and from the reimbursement of costs incurred by the Company in operating the communications sites and data center facilities and supporting its customers’ equipment as well as other services and contractual rights (the “non-lease component”). Most of the Company’s revenue is derived from leasing arrangements and is accounted for as lease revenue unless the timing and pattern of revenue recognition of the non-lease component differs from the lease component. If the timing and pattern of the non-lease component revenue recognition differs from that of the lease component, the Company separately determines the stand-alone selling prices and pattern of revenue recognition for each performance obligation. Revenue related to DAS networks and fiber and other related assets results from agreements with customers that are generally not accounted for as leases. The Company’s revenue from leasing arrangements, including fixed escalation clauses present in non-cancellable lease arrangements, is reported on a straight-line basis over the term of the respective leases when collectibility is probable. Escalation clauses tied to a consumer price index (“CPI”), or other inflation-based indices, and other incentives present in lease agreements with the Company’s tenants, are excluded from the straight-line calculation. Total property straight-line revenues for the years ended December 31, 2024, 2023 and 2022 were $277.6 million, $465.4 million and $508.5 million, respectively. Non-lease property revenue—Non-lease property revenue consists primarily of revenue generated from DAS networks, fiber and other property related revenue. DAS networks and fiber arrangements generally require that the Company provide the tenant the right to use available capacity on the applicable communications infrastructure. Performance obligations are satisfied over time for the duration of the arrangements. Non-lease property revenue also includes revenue generated from interconnection offerings in the Company’s data center facilities. Interconnection offerings are generally contracted on a month-to-month basis and are cancellable by the Company or the data center customer at any time. Performance obligations are satisfied over time for the duration of the arrangements. Other property related revenue streams, which include site inspections, are not material on either an individual or consolidated basis. Services revenue—The Company offers tower-related services in the United States. These services include AZP, structural and mount analyses, and construction management. There is a single performance obligation related to AZP and construction management, and revenue is recognized over time based on milestones achieved, which are determined based on costs expected to be incurred. Structural and mount analyses services may have more than one performance obligation, contingent upon the number of contracted services. Revenue is recognized at the point in time the services are completed. Some of the Company’s contracts with customers contain multiple performance obligations. For these arrangements, the Company allocates revenue to each performance obligation based on its relative standalone selling price, which is typically based on the price charged to customers in a stand-alone transaction. Since most of the Company’s contracts are leases, costs to enter into lease arrangements are capitalized under the applicable lease accounting guidance. Costs incurred to obtain non-lease contracts that are capitalized primarily relate to DAS networks and are not material to the consolidated financial statements. The Company has excluded sales tax, value added tax and similar taxes from non-lease revenue. The Company records unearned revenue when payments are received from customers in advance of the completion of the Company’s performance obligations. Long-term unearned revenue is included in Other non-current liabilities. During the year ended December 31, 2024, the Company recognized $116.8 million of revenue that was previously included in the contract liabilities balances, primarily arising from balances as of December 31, 2023. The Company records unbilled receivables, which are included in Prepaids and other current assets, when it has completed a performance obligation prior to its ability to bill under the customer arrangement. Other contract assets are included in Notes receivable and other non-current assets. The Company recorded an immaterial change in unbilled receivables attributable to non-lease property revenue recognized during each of the years ended December 31, 2024 and 2023. The changes in contract assets attributable to revenue recognized during the years ended December 31, 2024 and 2023 were immaterial. The Company does not disclose the value of unsatisfied performance obligations for agreements (i) with an original expected length of one year or less or (ii) for which it recognizes revenue at the amount to which it has the right to invoice for services performed.
Lease Accounting and Rent Expense	Lease Accounting and Rent Expense—The Company accounts for leases using a right-of-use model, which recognizes that, at the date of commencement, a lessee has a financial obligation to make lease payments to the lessor for the right to use the underlying asset during the lease term. The lessee also recognizes a corresponding right-of-use asset related to this right. The Company recognizes a right-of-use lease asset and lease liability for operating and finance leases. The right-of-use asset is measured as the sum of the lease liability, prepaid or accrued lease payments, any initial direct costs incurred and any other applicable amounts. The Company reviews its right-of-use assets for impairment whenever events, changes in circumstances or other evidence indicate that the carrying amount of the Company’s assets may not be recoverable. The Company reviews its right-of-use assets for indicators of impairment at the lowest level of identifiable cash flows, as part of its asset portfolio. Impairments primarily result from a site not having current tenant leases or from having expenses in excess of revenues. The Company records impairment charges, which are discussed in note 16, in Other operating expenses in the consolidated statements of operations in the period in which the Company identifies such impairment. The calculation of the lease liability requires the Company to make certain assumptions for each lease, including lease term and discount rate implicit in each lease, which could significantly impact the gross lease obligation, the duration and the present value of the lease liability. When calculating the lease term, the Company considers the renewal, cancellation and termination rights available to the Company and the lessor. The Company determines the discount rate by calculating the incremental borrowing rate on a collateralized basis at the commencement of a lease or upon a change in the lease term. Many of the leases underlying the Company’s sites have fixed rent escalations, which provide for periodic increases in the amount of ground rent payable by the Company over time. In addition, certain of the Company’s tenant leases require the Company to exercise available renewal options pursuant to the underlying ground lease if the tenant exercises its renewal option. The Company’s calculation of the lease liability includes the term of the underlying ground lease plus all periods, if any, for which failure to renew the lease imposes an economic penalty to the Company such that renewal appears to be reasonably assured.
Selling, General, Administrative and Development Expense	Selling, General, Administrative and Development Expense—Selling, general and administrative expense consists of overhead expenses related to the Company’s property and services operations and corporate overhead costs not specifically allocable to any of the Company’s individual business operations. Development expense consists of costs related to the Company’s acquisition efforts, costs associated with new business initiatives and project cancellation costs.
Stock-Based Compensation	Stock-Based Compensation—Stock-based compensation expense is measured at the accounting measurement date based on the fair value of the award and is generally recognized as an expense over the service period, which typically represents the vesting period. The Company provides for accelerated vesting and extended exercise periods of stock options and restricted stock units upon an employee’s death or permanent disability, or upon an employee’s qualified retirement, provided certain eligibility criteria are met. Accordingly, the Company recognizes compensation expense for stock options and time-based restricted stock units (“RSUs”) over the shorter of (i) the vesting period or (ii) the period from the date of grant to the date the employee becomes eligible for such benefits due to death, disability or qualified retirement, which may occur upon grant. The expense recognized includes the impact of forfeitures as they occur. Equity awards typically vest ratably. Awards of RSUs and stock options granted prior to March 10, 2023 generally vest over four years. In December 2022, the Company’s Compensation Committee changed the terms of its awards to generally vest over three years. The change in vesting terms is applicable for new awards granted beginning on March 10, 2023 and does not change the vesting terms applicable to grants awarded prior to March 10, 2023. The Company grants performance-based restricted stock units (“PSUs”) to its executive officers. Threshold, target and maximum parameters are established for a three-year performance period at the time of grant. The metrics are used to calculate the number of shares that will be issuable when the awards vest, which may range from zero to 200% of the target amounts. The Company recognizes compensation expense for PSUs over the three-year vesting period, subject to adjustment based on the date the employee becomes eligible for retirement benefits as well as performance relative to grant parameters. The Company’s PSUs granted in 2024 also include a market condition component. The fair value of stock options is determined using the Black-Scholes option-pricing model and the fair value of RSUs and PSUs is based on the fair value of the Company’s common stock on the date of grant. For the component of the PSUs subject to a market condition, fair value is determined using a Monte Carlo simulation model, which uses multiple input variables to determine the probability of satisfying the market condition requirements. The Company recognizes all stock-based compensation expense in Selling, general, administrative and development expense. In connection with the vesting of restricted stock units, the Company withholds from issuance a number of shares of common stock to satisfy certain employee tax withholding obligations arising from such vesting. The shares withheld are considered constructively retired. The Company recognizes the fair value of the shares withheld in Additional paid-in capital on the consolidated balance sheets.
Litigation Costs	Litigation Costs—The Company periodically becomes involved in various claims and lawsuits that are incidental to its business. The Company regularly monitors the status of pending legal actions to evaluate both the magnitude and likelihood of any potential loss. The Company accrues for these potential losses when it is probable that a liability has been incurred and the amount of loss, or possible range of loss, can be reasonably estimated. Should the ultimate losses on contingencies or litigation vary from estimates, adjustments to those liabilities may be required. The Company also incurs legal costs in connection with these matters and records estimates of these expenses, which are reflected in Selling, general, administrative and development expense in the accompanying consolidated statements of operations.
Earnings Per Common Share-Basic and Diluted	Earnings Per Common Share—Basic and Diluted—Basic net income per common share represents net income attributable to American Tower Corporation common stockholders divided by the weighted average number of common shares outstanding during the period. Diluted net income per common share represents net income attributable to American Tower Corporation common stockholders divided by the weighted average number of common shares outstanding during the period and any dilutive common share equivalents, including (A) shares issuable upon the vesting of RSUs and exercise of stock options and (B) shares expected to be earned upon the achievement of the parameters established for PSUs, each to the extent not anti-dilutive. The Company uses the treasury stock method to calculate the effect of its outstanding RSUs, PSUs and stock options.
Retirement Plan	Retirement Plan—The Company has a 401(k) plan covering nearly all eligible employees who meet certain age and employment requirements.
Accounting Standards Updates	Accounting Standards Updates—In November 2023, the Financial Accounting Standards Board (“FASB”) issued guidance which is intended to improve reportable segment disclosure requirements, primarily through additional disclosures about significant segment expenses. The standard is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. The amendments should be applied retrospectively to all prior periods presented in the financial statements. The Company adopted this guidance for the fiscal year ended December 31, 2024. The adoption of this guidance did not have a material impact on the Company’s financial statements and related disclosures. In December 2023, the FASB issued guidance which requires public entities to provide enhanced income tax disclosures on an annual basis. The new guidance requires an expanded rate reconciliation and the disaggregation of cash taxes paid by U.S. federal, U.S. state and foreign jurisdictions. The updated guidance is effective for fiscal years beginning after December 15, 2024, with early adoption permitted. The Company is currently evaluating the impact of this guidance on its consolidated financial statements and related disclosures. In November 2024, the FASB issued guidance which is intended to improve the disclosures about a public business entity’s expenses, primarily through additional disclosures about the types of expenses (including purchases of inventory, employee compensation, depreciation, amortization, and depletion) included in each relevant expense caption presented on the face of the income statement within continuing operations. The guidance is effective on a prospective basis, with the option for retrospective application, for annual periods beginning after December 15, 2026 and interim reporting periods beginning after December 15, 2027, with early adoption permitted. The Company is currently evaluating the impact of this guidance on its consolidated financial statements and related disclosures.

BUSINESS SEGMENTS (Tables)

12 Months Ended

Dec. 31, 2024

Segment Reporting [Abstract]

Schedule of Summarized Financial Information Concerning the Company's Reportable Segments


	Property										Total Property		Services		Other		Total
Year ended December 31, 2024	U.S. & Canada		Africa & APAC (1)		Europe		Latin America		Data Centers
Segment revenues	$	5,248.1	$	1,208.0	$	834.7	$	1,717.9	$	924.8	$	9,933.5	$	193.7			$	10,127.2
Segment operating expenses	870.9		380.5		309.4		530.2		390.8		2,481.8		92.6				2,574.4
Segment gross margin	4,377.2		827.5		525.3		1,187.7		534.0		7,451.7		101.1				7,552.8
Segment selling, general, administrative and development expense (2)	161.1		68.0		64.8		111.0		78.8		483.7		21.0				504.7
Segment operating profit	$	4,216.1	$	759.5	$	460.5	$	1,076.7	$	455.2	$	6,968.0	$	80.1			$	7,048.1
Stock-based compensation expense															$	192.7	192.7
Other selling, general, administrative and development expense															236.0		236.0
Depreciation, amortization and accretion															2,028.8		2,028.8
Other expense (3)															965.8		965.8
Income from continuing operations before income taxes																	$	3,624.8
Capital expenditures (4) (5) (6)	$	318.6	$	260.9	$	249.6	$	174.2	$	545.0	$	1,548.3	$	—	$	67.5	$	1,615.8

_______________

(1)Excludes the operating results of ATC TIPL, which are reported as discontinued operations. See note 22 for further discussion.

(2)Segment selling, general, administrative and development expenses exclude stock-based compensation expense of $192.7 million.

(6)Other capital expenditures includes capital expenditures associated with discontinued operations.


	Property								Total Property		Services		Other		Total
Year ended December 31, 2023	U.S. & Canada		Africa & APAC (1)		Europe		Latin America										Data Centers
Segment revenues	$	5,216.2	$	1,244.4	$	775.6	$	1,798.3	$	834.7	$	9,869.2	$	143.0				$	10,012.2
Segment operating expenses	849.9		438.4		299.5		566.0		347.6		2,501.4		60.1					2,561.5

Segment gross margin	4,366.3		806.0		476.1		1,232.3		487.1		7,367.8		82.9					7,450.7
Segment selling, general, administrative and development expense (2)	165.1		87.3		65.6		107.9		72.4		498.3		22.9					521.2
Segment operating profit	$	4,201.2	$	718.7	$	410.5	$	1,124.4	$	414.7	$	6,869.5	$	60.0				$	6,929.5
Stock-based compensation expense															$	183.3		183.3
Other selling, general, administrative and development expense															241.5			241.5
Depreciation, amortization and accretion															2,928.5			2,928.5
Other expense (3)															2,046.9			2,046.9
Income from continuing operations before income taxes																		$	1,529.3
Capital expenditures (4) (5) (6)	$	410.6	$	435.7	$	218.0	$	205.2	$	428.1	$	1,697.6	$	—	$	132.2		$	1,829.8

_______________

(1) Excludes the operating results of ATC TIPL, which are reported as discontinued operations. See note 22 for further discussion.

(2) Segment selling, general, administrative and development expenses exclude stock-based compensation expense of $183.3 million.

(6) Other capital expenditures includes capital expenditures associated with discontinued operations.


	Property										Total Property			Services			Other			Total
Year ended December 31, 2022	U.S. & Canada		Africa & APAC (1)		Europe		Latin America		Data Centers
Segment revenues	$	5,006.3	$	1,203.8	$	735.7	$	1,691.9	$	766.6		$	9,404.3		$	241.1					$	9,645.4
Segment operating expenses	845.4		448.1		319.6		526.7		322.0			2,461.8			107.4						2,569.2

Segment gross margin	4,160.9		755.7		416.1		1,165.2		444.6			6,942.5			133.7						7,076.2
Segment selling, general, administrative and development expense (2)	183.2		86.5		52.4		107.6		63.9			493.6			22.3						515.9
Segment operating profit	$	3,977.7	$	669.2	$	363.7	$	1,057.6	$	380.7		$	6,448.9		$	111.4					$	6,560.3
Stock-based compensation expense																		$	161.7		161.7
Other selling, general, administrative and development expense																		224.5			224.5
Depreciation, amortization and accretion																		3,164.9			3,164.9
Other expense (3)																		923.2			923.2
Income from continuing operations before income taxes																					$	2,086.0
Capital expenditures (4) (5) (6)	$	481.7	$	536.1	$	165.7	$	229.4	$	353.7		$	1,766.6		$	—		$	135.9		$	1,902.5

_______________

(1)Excludes the operating results of ATC TIPL, which are reported as discontinued operations. See note 22 for further discussion.

(2) Segment selling, general, administrative and development expenses exclude stock-based compensation expense of $161.7 million.

(3) Primarily includes interest expense and $147.3 million in impairment charges, partially offset by gains from foreign currency exchange rate fluctuations.

(6) Other capital expenditures includes capital expenditures associated with discontinued operations.

Schedule of Reconciliation of Assets from Segments to Consolidated

Additional information relating to the total assets of the Company’s operating segments is as follows for the years ended December 31,:


	2024		2023
Total Assets (1):
U.S. & Canada property	$	26,750.1	$	26,325.1
Africa & APAC property	3,993.1		4,238.8
Europe property	11,267.2		11,769.3
Latin America property	7,470.7		9,025.3
Data Centers	10,431.6		10,482.9
Services	113.7		54.8
Other (2)	1,051.0		4,131.4
Total assets	$	61,077.4	$	66,027.6

_______________

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

Schedule of Disclosure on Geographic Areas, Long-Lived Assets


	2024		2023		2022
Operating Revenues:
U.S. & Canada:
Canada (1)	$	13.3	$	11.7	$	12.5
United States (2)	6,353.3		6,182.2		6,001.5
Africa & APAC (1)(3):
Australia (4)	2.6		2.6		1.8
Bangladesh	7.9		5.7		3.9
New Zealand (4)	1.6		1.6		0.3
Philippines	9.2		8.9		5.3
Burkina Faso	40.1		38.1		41.2
Ghana	126.7		128.6		144.4
Kenya	141.1		120.0		123.1
Niger	51.3		48.4		42.1
Nigeria	384.4		495.4		477.2
South Africa	174.0		157.9		164.8
Uganda	269.1		237.2		199.7
Europe (1):
France	121.7		113.4		99.6
Germany	402.2		363.6		320.0
Poland (5)	—		0.6		1.0
Spain	310.8		298.0		315.1
Latin America (1):
Argentina	36.2		43.8		39.2
Brazil	786.1		787.3		741.9
Chile	103.7		106.3		91.8
Colombia	110.4		117.0		106.1
Costa Rica	25.3		24.7		23.9
Mexico	544.9		611.8		588.9
Paraguay	16.3		16.3		15.4
Peru	95.0		91.1		84.7

Total operating revenues	$	10,127.2	$	10,012.2	$	9,645.4

_______________

(1) Balances are translated at the applicable exchange rate, which may impact comparability between periods.

(2) Balances include revenue from the Company’s Services and Data Centers segments.

(3) Excludes the operating results of ATC TIPL, which are reported as discontinued operations. See note 22 for further discussion.

(4) During the year ended December 31, 2024, the Company completed the sales of ATC Australia and ATC New Zealand.

(5) During the year ended December 31, 2023, the Company completed the sale of ATC Poland.


	2024		2023
Long-Lived Assets (1):
U.S. & Canada:
Canada (2)	$	200.5	$	214.8
United States (3)	28,214.3		28,337.4
Africa & APAC (2):
Australia	—		10.6
Bangladesh	30.2		25.3
New Zealand	—		37.5
Philippines	30.2		31.9
Burkina Faso	230.9		257.4
Ghana	244.9		269.2
Kenya	672.7		557.2
Niger	177.1		203.1
Nigeria	325.4		456.5
South Africa	327.4		337.0
Uganda	939.1		925.1
Europe (2):
France	1,265.6		1,338.8
Germany	5,429.5		5,721.2
Spain	2,834.8		3,031.6
Latin America (2):
Argentina	185.3		190.1
Brazil	1,592.1		1,996.5
Chile	510.1		575.7
Colombia	231.2		286.8
Costa Rica	106.8		105.6
Mexico	859.1		1,044.4
Paraguay	86.4		92.3
Peru	805.6		832.9
Total long-lived assets	$	45,299.2	$	46,878.9

_______________

(1) Includes Property and equipment, net, Goodwill and Other intangible assets, net.

(2) Balances are translated at the applicable period end exchange rate, which may impact comparability between periods.

(3) Balances include the Company’s data centers assets located in the United States.

Schedule of Revenue by Major Customers

The following customers within the property and services segments individually accounted for 10% or more of the Company’s consolidated operating revenues for the years ended December 31,:


	2024		2023		2022
T-Mobile	19	%	19	%	20	%
AT&T	18	%	18	%	19	%
Verizon Wireless	13	%	14	%	13	%
Telefónica	10	%	10	%	10	%

ASSET RETIREMENT OBLIGATIONS (Tables)

12 Months Ended

Dec. 31, 2024

Asset Retirement Obligation [Abstract]

Schedule of Carrying Value of Asset Retirement Obligations

The changes in the carrying amount of the Company’s asset retirement obligations were as follows:


	2024		2023
Beginning balance as of January 1,	$	2,080.0	$	1,973.0
Additions	15.5		12.0
Accretion expense (1)	35.5		112.7
Revisions in estimates (2)	304.1		(1.4)
Settlements	(41.3)		(16.3)
Balance as of December 31,	$	2,393.8	$	2,080.0

_______________

(1)For the year ended December 31, 2024 reflects an estimated $75.0 million decrease in accretion expense related to the extension in the estimated settlement dates, as discussed in note 1.

COMMITMENTS AND CONTINGENCIES	12 Months Ended
COMMITMENTS AND CONTINGENCIES	Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Litigation—The Company periodically becomes involved in various claims, lawsuits and proceedings that are incidental to its business. In the opinion of Company management, after consultation with counsel, there are no matters currently pending that would, in the event of an adverse outcome, materially impact the Company’s consolidated financial position, results of operations or liquidity. Verizon Transaction—In March 2015, the Company entered into an agreement with various operating entities of Verizon Communications Inc. (“Verizon”) that currently provides for the lease, sublease or management of approximately 11,100 wireless communications sites, which commenced on March 27, 2015. The average term of the lease or sublease for all communications sites at the inception of the agreement was approximately 28 years, assuming renewals or extensions of the underlying ground leases for the sites. The Company has the option to purchase the leased sites in tranches, subject to the applicable lease, sublease or management rights upon its scheduled expiration. Each tower is assigned to an annual tranche, ranging from 2034 to 2047, which represents the outside expiration date for the sublease rights to the towers in that tranche. The purchase price for each tranche is a fixed amount stated in the lease for such tranche plus the fair market value of certain alterations made to the related towers. The aggregate purchase option price for the towers leased and subleased is approximately $5.0 billion. Verizon will occupy the sites as a tenant for an initial term of ten years with eight optional successive five-year terms; each such term shall be governed by standard master lease agreement terms established as a part of the transaction. AT&T Transaction—The Company has an agreement with SBC Communications Inc., a predecessor entity to AT&T Inc. (“AT&T”), that currently provides for the lease or sublease of approximately 1,700 towers, which commenced between December 2000 and August 2004. Substantially all of the towers are part of the Trust Securitizations. The average term of the lease or sublease for all sites at the inception of the agreement was approximately 27 years, assuming renewals or extensions of the underlying ground leases for the sites. The Company has the option to purchase the sites subject to the applicable lease or sublease upon its expiration. Each tower is assigned to an annual tranche, ranging from 2013 to 2032, which represents the outside expiration date for the sublease rights to that tower. The purchase price for each site is a fixed amount stated in the lease for that site plus the fair market value of certain alterations made to the related tower by AT&T. As of December 31, 2024, the Company has purchased an aggregate of approximately 700 of the subleased towers which are subject to the applicable agreement, including 80 towers purchased during the year ended December 31, 2024 for an aggregate purchase price of $59.1 million. The aggregate purchase option price for the remaining towers leased and subleased is $1.2 billion and includes per annum accretion through the applicable expiration of the lease or sublease of a site. For all such sites, AT&T has the right to continue to lease the reserved space through June 30, 2025 at the then-current monthly fee, which shall escalate in accordance with the standard master lease agreement for the remainder of AT&T’s tenancy. Thereafter, AT&T shall have the right to renew such lease for up to five successive five-year terms. Other Contingencies—The Company is subject to income tax and other taxes in the geographic areas where it holds assets or operates, and periodically receives notifications of audits, assessments or other actions by taxing authorities. Taxing authorities may issue notices or assessments while audits are being conducted. In certain jurisdictions, taxing authorities may issue assessments with minimal examination. These notices and assessments do not represent amounts that the Company is obligated to pay and are often not reflective of the actual tax liability for which the Company will ultimately be liable. In the process of responding to assessments of taxes that the Company believes are not enforceable, the Company avails itself of both administrative and judicial remedies. The Company evaluates the circumstances of each notification or assessment based on the information available and, in those instances in which the Company does not anticipate a successful defense of positions taken in its tax filings, a liability is recorded in the appropriate amount based on the underlying assessment. Guaranties and Indemnifications—The Company enters into agreements from time to time in the ordinary course of business pursuant to which it agrees to guarantee or indemnify third parties for certain claims. The Company has also entered into purchase and sale or disposal agreements relating to the sale or acquisition of assets containing customary indemnification provisions. The Company’s indemnification obligations under these agreements generally are limited solely to damages resulting from breaches of representations and warranties or covenants under the applicable agreements. In addition, payments under such indemnification clauses are generally conditioned on the other party making a claim that is subject to whatever defenses the Company may have and are governed by dispute resolution procedures specified in the particular agreement. Further, the Company’s obligations under these agreements may be limited in duration and amount, and in some instances, the Company may have recourse against third parties for payments made by the Company. The Company has not historically made any material payments under these agreements and, as of December 31, 2024, is not aware of any agreements that could result in a material payment.

LONG-TERM OBLIGATIONS - Schedule of Credit Facilities and Term Loans (Details) - American Tower Corporation	12 Months Ended
	Dec. 31, 2024 USD ($) renewalPeriod	Dec. 31, 2023 USD ($)	Dec. 08, 2021 USD ($)
Line of Credit Facility [Line Items]
Long-term debt	$ 34,174,900,000	$ 36,472,000,000
Revolving Credit Facility
Line of Credit Facility [Line Items]
Number of optional renewal periods \| renewalPeriod	2
2021 Multicurrency Credit Facility \| Revolving Credit Facility
Line of Credit Facility [Line Items]
Long-term debt	$ 0	723,400,000
Outstanding Principal Balance	0
Undrawn letters of credit	$ 5,200,000
Current margin over LIBOR or EURIBOR (as a percent)	1.125%
Current commitment fee, percentage	0.11%
2021 Credit Facility \| Revolving Credit Facility
Line of Credit Facility [Line Items]
Long-term debt	$ 0	1,603,400,000
Outstanding Principal Balance	0
Undrawn letters of credit	$ 30,400,000
Current margin over LIBOR or EURIBOR (as a percent)	1.125%
Current commitment fee, percentage	0.11%
2021 Term Loan \| Unsecured Debt
Line of Credit Facility [Line Items]
Long-term debt	$ 997,900,000	$ 997,000,000.0	$ 1,000,000,000
Outstanding Principal Balance	$ 1,000,000,000
Current margin over LIBOR or EURIBOR (as a percent)	1.125%

DISCONTINUED OPERATIONS - Loss on Sale of Discontinued Operations (Details) $ in Millions, ₨ in Billions		12 Months Ended
	Sep. 12, 2024 USD ($)	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Sep. 12, 2024 INR (₨)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Total loss on sale included in loss from discontinued operations, net of taxes		$ (1,245.5)	$ 0.0	$ 0.0
Discontinued Operations, Disposed of by Sale \| ATC TIPL
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds received at closing	$ 2,158.8				₨ 182
Net assets at closing	(2,257.6)
Loss on sale	(98.8)
Deal costs	(20.5)
Contingent liability for tax indemnification	(53.9)
Reclassification of cumulative translation adjustment	(1,072.3)
Total loss on sale included in loss from discontinued operations, net of taxes	$ (1,245.5)	$ (1,245.5)	$ 0.0	$ 0.0

GOODWILL AND OTHER INTANGIBLE ASSETS - Other Intangible Assets Subject to Amortization (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	$ 24,438.2	$ 25,473.9
Accumulated Amortization	(9,963.9)	(9,541.6)
Net Book Value	$ 14,474.3	15,932.3
Minimum
Finite-Lived Intangible Assets [Line Items]
Estimated Useful Lives (years)	2 years
Maximum
Finite-Lived Intangible Assets [Line Items]
Estimated Useful Lives (years)	30 years
Acquired network location intangibles
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	$ 5,365.4	5,584.9
Accumulated Amortization	(2,659.8)	(2,622.8)
Net Book Value	$ 2,705.6	$ 2,962.1
Acquired network location intangibles \| Maximum
Finite-Lived Intangible Assets [Line Items]
Estimated Useful Lives (years)	30 years	20 years
Acquired tenant-related intangibles
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	$ 17,666.0	$ 18,328.3
Accumulated Amortization	(6,823.7)	(6,477.1)
Net Book Value	$ 10,842.3	11,851.2
Acquired tenant-related intangibles \| Maximum
Finite-Lived Intangible Assets [Line Items]
Estimated Useful Lives (years)	30 years
Acquired licenses and other intangibles
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	$ 1,406.8	1,560.7
Accumulated Amortization	(480.4)	(441.7)
Net Book Value	$ 926.4	$ 1,119.0
Acquired licenses and other intangibles \| Minimum
Finite-Lived Intangible Assets [Line Items]
Estimated Useful Lives (years)	2 years
Acquired licenses and other intangibles \| Maximum
Finite-Lived Intangible Assets [Line Items]
Estimated Useful Lives (years)	30 years

SUBSEQUENT EVENTS	12 Months Ended
SUBSEQUENT EVENTS	Dec. 31, 2024
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS Repayment of 2.950% Senior Notes—On January 14, 2025, the Company repaid $650.0 million aggregate principal amount of the Company’s 2.950% senior unsecured notes due 2025 (the “2.950% Notes”) upon their maturity. The 2.950% Notes were repaid using cash on hand and borrowings under the 2021 Multicurrency Credit Facility. Upon completion of the repayment, none of the 2.950% Notes remained outstanding. Amendments to Bank Facilities—On January 28, 2025, the Company amended its (i) 2021 Multicurrency Credit Facility, (ii) 2021 Credit Facility and (iii) 2021 Term Loan. These amendments, among other things, i.extend the maturity dates of the 2021 Multicurrency Credit Facility and the 2021 Credit Facility to January 28, 2028 and January 28, 2030, respectively; ii.extend the maturity date of the 2021 Term Loan to January 28, 2028; and iii.update the Applicable Margins (as defined in the loan agreements). Sale of South Africa Fiber—The Company, through its subsidiary ATC South Africa Wireless Infrastructure Proprietary Limited, entered into an agreement, which received government approval on February 13, 2025, pursuant to which it expects to sell one of its subsidiaries in South Africa that holds fiber assets (“South Africa Fiber”) for total aggregate consideration of 2.5 billion South African Rand (approximately $132.7 million) subject to certain adjustments. The Company expects to complete the sale during the first quarter of 2025. South Africa Fiber’s operating results are included within the Africa & APAC property segment.

INCOME TAXES - Valuation Allowance Activity (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance as of January 1,	$ 433.5	$ 335.7	$ 329.3
Additions	305.6	249.1	93.9
Usage, expiration and reversals	(20.5)	(87.2)	(76.5)
Foreign currency translation	(36.9)	(64.1)	(11.0)
Balance as of December 31,	$ 681.7	$ 433.5	$ 335.7

LEASES - Schedule of Weighted Average Lease Terms And Discount Rates (Details)	Dec. 31, 2024	Dec. 31, 2023
Operating leases:
Weighted-average remaining lease term (years)	14 years 3 months 18 days	11 years 10 months 24 days
Weighted-average incremental borrowing rate	6.50%	5.50%
Finance leases:
Weighted-average remaining lease term (years)	19 years 2 months 12 days	16 years 2 months 12 days
Weighted-average incremental borrowing rate	7.90%	7.40%

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Statement of Comprehensive Income [Abstract]
Foreign currency translation adjustments, tax (benefit) expense	$ (0.8)	$ 0.3	$ (0.8)

ASSET RETIREMENT OBLIGATIONS - Schedule of Carrying Value Of Asset Retirement Obligations, Footnotes (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Asset Retirement Obligation Table [Line Items]
Decrease to accretion expense	$ (35.5)	$ (112.7)
Decrease (increase) to asset retirement obligation due to foreign currency translation	125.0	(22.8)
Increase in asset retirement obligation	2,393.8	$ 2,080.0	$ 1,973.0
Change in Settlement Dates
Asset Retirement Obligation Table [Line Items]
Decrease to accretion expense	75.0
Increase in asset retirement obligation	$ 470.0

Schedule III - SCHEDULE OF REAL ESTATE AND ACCUMULATED DEPRECIATION - Schedule of Real Estate and Accumulated Depreciation (Details) $ in Millions	12 Months Ended
	Dec. 31, 2024 USD ($) communicationSite	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Gross amount carried at close of current period	$ 27,582.5	$ 28,239.2	$ 27,060.9	$ 23,948.9
Accumulated depreciation at close of current period	$ (9,683.6)	$ (9,820.6)	$ (8,669.5)	$ (7,548.1)
Sites
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of units \| communicationSite	148,097
Encumbrances	$ 2,325.0
Gross amount carried at close of current period	20,721.1
Accumulated depreciation at close of current period	$ (8,494.3)
Data Centers
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of units \| communicationSite	29
Encumbrances	$ 0.0
Gross amount carried at close of current period	6,861.4
Accumulated depreciation at close of current period	(1,189.3)
Secured Debt
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 2,300.0
Maximum \| Sites
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statements is computed	30 years
Maximum \| Data Centers
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statements is computed	40 years

LEASES - Narrative (Details) $ in Millions	12 Months Ended
LEASES - Narrative (Details) $ in Millions	Dec. 31, 2024 USD ($) tenant renewalOption	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Lessor, Lease, Description [Line Items]
Number of tenants \| tenant	1
Amortization of lease incentive, period	10 years
Operating lease, number of renewal options \| renewalOption	1
Operating lease, liability	$ 7,452.3	$ 7,505.7
Right-of-use asset	8,089.6	8,205.1
Asset impairment charges	$ 68.6	280.0	$ 147.3
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Increase in long-lived tangible asset
Interest expense on finance lease liabilities	$ 1.0	1.1	1.1
Service Life
Lessor, Lease, Description [Line Items]
Operating lease, liability	515.0
Right-of-use asset	515.0
Other Current Assets
Lessor, Lease, Description [Line Items]
Lease incentives	36.7
Other Noncurrent Assets
Lessor, Lease, Description [Line Items]
Lease incentives	328.7
Lease Agreements
Lessor, Lease, Description [Line Items]
Asset impairment charges	$ 0.8	$ 6.7	$ 8.1
Minimum
Lessor, Lease, Description [Line Items]
Lessor, term of lease	5 years
Operating lease, term of contract	5 years
Maximum
Lessor, Lease, Description [Line Items]
Lessor, term of lease	10 years
Estimated Useful Lives (years)	30 years
Operating lease, term of contract	10 years
Maximum \| Towers
Lessor, Lease, Description [Line Items]
Estimated Useful Lives (years)	30 years
Maximum \| Communication Sites
Lessor, Lease, Description [Line Items]
Estimated Useful Lives (years)	30 years

DISCONTINUED OPERATIONS

12 Months Ended

Dec. 31, 2024

Discontinued Operations and Disposal Groups [Abstract]

DISCONTINUED OPERATIONS

In 2023, the Company undertook a strategic review of its India operations, where the Company evaluated the appropriate level of exposure to the India market within its global portfolio of communications assets, and assessed opportunities to repurpose capital to drive long-term shareholder value and sustained growth. The strategic review concluded in January 2024 with the signed agreement for the ATC TIPL Transaction (as defined below).

On January 4, 2024, the Company, through ATC TIPL, entered into an agreement with Data Infrastructure Trust (“DIT”), an infrastructure investment trust sponsored by an affiliate of Brookfield Asset Management, pursuant to which DIT agreed to acquire a 100% ownership interest in ATC TIPL (the “ATC TIPL Transaction”). Per the terms of the agreement, total aggregate consideration represented up to approximately 210 billion Indian Rupees (“INR”) (approximately $2.5 billion), including the value of the VIL OCDs and the VIL Shares (each as defined and further discussed in note 11), payments on certain existing customer receivables, the repayment of existing intercompany debt and the repayment, or assumption, of the Company’s existing term loan in India, by DIT.

During the year ended December 31, 2024, ATC TIPL distributed approximately 29.6 billion INR (approximately $354.1 million) to the Company, which included the value of the VIL Shares and the VIL OCDs and the satisfaction of the economic benefit associated with the rights to payments on certain existing customer receivables. The distributions were deducted from the total aggregate consideration received by the Company at closing.

The ATC TIPL Transaction received all government and regulatory approvals during the three months ended September 30, 2024, and on September 12, 2024, the Company completed the sale of ATC TIPL and received total consideration of 182 billion INR (approximately $2.2 billion). The Company used the proceeds from the ATC TIPL Transaction to repay existing indebtedness under the 2021 Multicurrency Credit Facility.

The Company recorded a loss on the sale of ATC TIPL of $1.2 billion, which primarily included the reclassification of the Company’s cumulative translation adjustment in India upon exiting the market of $1.1 billion. The loss on sale of ATC TIPL is included in Loss from discontinued operations, net of taxes in the consolidated statements of operations for year ended December 31, 2024.


Proceeds received at closing	$	2,158.8
Net assets at closing	(2,257.6)
Loss on sale	$	(98.8)
Deal costs	(20.5)
Contingent liability for tax indemnification	(53.9)
Reclassification of cumulative translation adjustment	(1,072.3)
Total loss on sale included in loss from discontinued operations, net of taxes	$	(1,245.5)

Under the terms of the Company’s agreement with DIT, the Company is obligated to indemnify DIT with respect to certain tax-related liabilities that may arise from activities prior to the completion of the sale. The Company has recorded a $53.9 million contingent indemnification liability related to uncertain tax positions taken by ATC TIPL prior to the completion of the sale. The contingent indemnification liability is recorded in Other non-current liabilities in the consolidated balance sheets as of December 31, 2024.

The Company recorded a deferred tax asset related to the loss incurred on the sale of ATC TIPL which can only be utilized against future nonresident long-term India capital gains earned by ATC Asia Pacific Pte. Ltd. The Company believes that it is more likely than not that the benefit from this will not be realized and has recorded a full valuation allowance against this deferred tax asset of approximately $140 million.

For the year ended December 31, 2023, ATC TIPL represented approximately 23%, 15% and 15%, respectively, of the Company’s international property revenue, international gross margin and international operating profit and 10%, 6% and 5%, respectively, of the Company’s total property revenue, total segment gross margin and total segment operating profit. Prior to the completion of the ATC TIPL Transaction, ATC TIPL represented approximately 42% of the Company’s international communications sites and 34% of the Company’s total communications sites. The Company believes that the sale of ATC TIPL represents a strategic shift that will have a major impact on its operations and financial results, and as such, the divestiture qualified for presentation as discontinued operations. Prior to the divestiture and classification as discontinued operations, ATC TIPL’s operating results were included within the Asia-Pacific property segment. Accordingly, the operating results of ATC TIPL are reported as discontinued operations for all periods presented.

Assets of discontinued operations consisted of the following:


	As of
	December 31, 2024		December 31, 2023
Cash and cash equivalents	$	—	$	219.6
Restricted cash	—		0.4
Accounts receivable, net	—		122.2
Prepaid and other current assets (1)	—		387.4
Total current assets of discontinued operations	$	—	$	729.6
Property and equipment, net	$	—	$	925.6
Goodwill	—		555.5
Other intangible assets, net	—		588.4
Deferred rent	—		43.6
Right-of-use asset	—		673.7
Notes receivable and other non-current assets			34.1
Total non-current assets of discontinued operations	$	—	$	2,820.9
Total assets of discontinued operations	$	—	$	3,550.5

_______________

(1) As of December 31, 2023, includes the VIL OCDs.

Liabilities of discontinued operations consisted of the following:


	As of
	December 31, 2024		December 31, 2023
Accounts payable	$	—	$	7.4
Accrued expenses	—		227.8
Accrued interest	—		2.8
Current portion of operating lease liability	—		104.2
Current portion of long-term obligations	—		120.2
Unearned revenue	—		0.9
Total current liabilities of discontinued operations	$	—	$	463.3
Operating lease liability	—		623.4
Asset retirement obligation	—		78.2
Deferred tax liability	—		50.8
Other non-current liabilities	—		70.8
Total non-current liabilities of discontinued operations	$	—	$	823.2
Total liabilities of discontinued operations	$	—	$	1,286.5

Current portion of long-term obligations—Long-term obligations, including the current portion, includes the India Term Loan (as defined below). Interest expense associated with the India Term Loan is included within Loss from discontinued operations, net of taxes in the consolidated statements of operations for the years ended December 31, 2024 and 2023.

On February 17, 2023, ATC TIPL borrowed 10.0 billion INR (approximately $120.7 million at the date of borrowing) under an unsecured term loan in India, with a maturity date that was one year from the date of the first draw thereunder, and which was subsequently extended to December 31, 2024 (the “India Term Loan”). The India Term Loan was repaid on September 12, 2024, in connection with the completion of the ATC TIPL Transaction.

The following table presents key components of Loss from discontinued operations, net of taxes in the consolidated statements of operations:


	Year Ended December 31,
	2024 (1)		2023		2022
Revenue	$	911.2	$	1,132.0	$	1,065.7
Cost of operations	(473.8)		(699.1)		(694.6)
Depreciation, amortization and accretion	(96.0)		(158.0)		(190.2)
Selling, general, administrative and development expense	(58.7)		(46.5)		(70.2)
Other operating expense (2)	(6.7)		(7.0)		(497.0)
Loss on sale of ATC TIPL (3)	(1,245.5)		—		—
Goodwill impairment	—		(322.0)		—
Operating loss	(969.5)		(100.6)		(386.3)
Interest income	30.7		24.8		22.5
Interest expense	(7.6)		(10.0)		(0.5)
Other income (expense), net	46.5		77.8		(1.0)
Loss from discontinued operations before taxes	$	(899.9)	$	(8.0)	$	(365.3)
Income tax provision (benefit)	78.4		63.4		(88.8)
Loss from discontinued operations, net of taxes	$	(978.3)	$	(71.4)	$	(276.5)

_______________

(1)Includes the results of operations for ATC TIPL through September 12, 2024.

(2)For the year ended December 31, 2022, primarily includes impairment charges, as discussed below.

(3)Primarily includes the reclassification of the Company’s cumulative translation adjustment in India upon exiting the market of $1.1 billion.

India Impairments

The Company reviews long-lived assets for impairment annually (as of December 31) or whenever events or circumstances indicate the carrying amount of an assets may not be recoverable, as further discussed in note 1.

In the third quarter of 2022, VIL communicated that it would make partial payments of its contractual amounts owed to the Company and indicated that it would continue to make partial payments for the remainder of 2022. In late 2022, VIL had communicated its intent to resume payments in full under its contractual obligations owed to the Company beginning on January 1, 2023. However, in early 2023, VIL communicated that it would not be able to resume payments in full of its contractual obligations owed to the Company, and that it would instead continue to make partial payments. In the second half of 2023, VIL began making payments in full of its monthly contractual obligations owed to the Company.

The Company considered these developments and the uncertainty with respect to amounts owed under its tenant leases when conducting its 2022 annual impairment assessments for long-lived assets in India. A probability weighted assessment was performed, incorporating current and expected industry and market conditions and trends and, as a result, the Company determined that certain fixed and intangible assets had been impaired during the year ended December 31, 2022.

•An impairment of $97.0 million was taken on tower and network location intangible assets in India.

•The Company also impaired the tenant-related intangible assets for VIL, which resulted in an impairment of $411.6 million.

Goodwill Impairments

The Company reviews goodwill for impairment annually (as of December 31) or whenever events or circumstances indicate the carrying amount of an asset may not be recoverable, as further discussed in note 1.

The Company concluded that a triggering event occurred during the year ended December 31, 2023 with respect to its India reporting unit primarily due to indications of value received from third parties in connection with the Company’s review of various strategic alternatives for its India operations, which concluded in the ATC TIPL Transaction (as defined in note 22). As a result, the Company performed an interim quantitative goodwill impairment test as of September 30, 2023, using, among other things, the information obtained from third parties to compare the estimated fair value of the India reporting unit to its carrying amount, including goodwill. The result of the Company’s interim goodwill impairment test as of September 30, 2023

indicated that the carrying amount of the Company's India reporting unit exceeded its estimated fair value. As a result, the Company recorded a goodwill impairment charge of $322.0 million during the three months ended September 30, 2023.

The cash flows related to discontinued operations have not been segregated and are included in the consolidated statements of cash flows. The following table presents key cash flow and non-cash information related to discontinued operations:


	Year Ended December 31,
	2024 (1)		2023		2022
Proceeds from the sale of ATC TIPL	$	2,158.8	$	—	$	—
Capital expenditures	(52.3)		(111.9)		(123.0)

Significant non-cash items:
Depreciation, amortization and accretion	96.0		158.0		190.2
Stock-based compensation expense	10.9		12.4		7.6
Impairments, net loss on sale of long-lived assets, non-cash restructuring and merger related expenses	(2.3)		318.2		500.3
(Gain) loss on investments, unrealized foreign currency (gain) loss and other non-cash expense	(30.7)		(82.5)		14.0
Loss on sale of ATC TIPL (2)	1,245.5		—		—

_______________

(1)Includes the cash flows for ATC TIPL through September 12, 2024.

(2)Primarily includes the reclassification of the Company’s cumulative translation adjustment in India upon exiting the market of $1.1 billion.

Transition Services Agreement—In connection with the ATC TIPL Transaction, the Company entered into a Transition Services Agreement (the “TSA”) with DIT, pursuant to which the Company agreed to provide certain information technology, finance, accounting and human resources services to support DIT in the ongoing operation of the business for a period of time post-closing. Income and expenses recognized under the TSA were not significant for the year ended December 31, 2024.

ACCRUED EXPENSES

12 Months Ended

Dec. 31, 2024

Accrued Liabilities, Current [Abstract]

ACCRUED EXPENSES

Accrued expenses consisted of the following:


	As of
	December 31, 2024		December 31, 2023
Accrued construction costs	$	166.7	$	180.0
Accrued income tax payable	20.6		16.3
Accrued pass-through costs	56.8		34.0
Amounts payable for acquisitions (1)	106.4		27.7
Amounts payable to tenants	74.7		102.5
Accrued property and real estate taxes	199.3		194.9
Accrued rent	54.7		51.8

Payroll and related withholdings	129.6		134.0
Other accrued expenses	273.2		311.6

Accrued expenses	$	1,082.0	$	1,052.8

_______________

(1)As of December 31, 2024 includes $94.9 million of deferred payments, including post-closing adjustments, associated with the Telxius Acquisition due in 2025.

OTHER OPERATING EXPENSE - Narrative (Details) - USD ($)	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Severance and Related Costs
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve	$ 0	$ 1,900,000	$ 0

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

LONG-TERM OBLIGATIONS

12 Months Ended

Dec. 31, 2024

Debt Disclosure [Abstract]

LONG-TERM OBLIGATIONS

Outstanding amounts under the Company’s long-term obligations, reflecting discounts, premiums and debt issuance costs, consisted of the following:


	As of
	December 31, 2024		December 31, 2023		Contractual Interest Rate (1)		Maturity Date (1)

2021 Multicurrency Credit Facility (2) (3)	$	—	$	723.4	—	%	July 1, 2026
2021 Term Loan (2)	997.9		997.0		5.562	%	January 31, 2027
2021 Credit Facility (2)	—		1,603.4		—	%	July 1, 2028

2021 EUR Three Year Delayed Draw Term Loan (3) (4)	—		910.7		N/A		N/A
0.600% senior notes (5)	—		500.0		N/A		N/A
5.00% senior notes (6)	—		1,000.1		N/A		N/A
3.375% senior notes (7)	—		649.7		N/A		N/A
2.950% senior notes (8)	650.0		648.2		2.950	%	January 15, 2025
2.400% senior notes	749.7		748.5		2.400	%	March 15, 2025
1.375% senior notes (9)	517.3		550.0		1.375	%	April 4, 2025
4.000% senior notes	749.4		748.1		4.000	%	June 1, 2025
1.300% senior notes	499.3		498.3		1.300	%	September 15, 2025
4.400% senior notes	499.3		498.7		4.400	%	February 15, 2026
1.600% senior notes	698.5		697.4		1.600	%	April 15, 2026
1.950% senior notes (9)	516.4		549.6		1.950	%	May 22, 2026
1.450% senior notes	597.4		595.9		1.450	%	September 15, 2026
3.375% senior notes	996.6		994.7		3.375	%	October 15, 2026
3.125% senior notes	399.3		398.9		3.125	%	January 15, 2027
2.750% senior notes	748.0		747.0		2.750	%	January 15, 2027
0.450% senior notes (9)	774.1		824.3		0.450	%	January 15, 2027
0.400% senior notes (9)	515.0		548.2		0.400	%	February 15, 2027
3.650% senior notes	646.4		644.8		3.650	%	March 15, 2027
4.125% senior notes (9)	618.5		658.6		4.125	%	May 16, 2027
3.55% senior notes	747.9		747.1		3.550	%	July 15, 2027
3.600% senior notes	697.0		696.0		3.600	%	January 15, 2028
0.500% senior notes (9)	772.6		822.8		0.500	%	January 15, 2028
1.500% senior notes	647.8		647.1		1.500	%	January 31, 2028
5.500% senior notes	695.0		693.6		5.500	%	March 15, 2028
5.250% senior notes	645.2		643.9		5.250	%	July 15, 2028
5.800% senior notes	744.6		743.4		5.800	%	November 15, 2028
5.200% senior notes	643.7		—		5.200	%	February 15, 2029
3.950% senior notes	594.8		593.7		3.950	%	March 15, 2029
0.875% senior notes (9)	773.0		823.7		0.875	%	May 21, 2029
3.800% senior notes	1,640.5		1,638.6		3.800	%	August 15, 2029
2.900% senior notes	745.1		744.2		2.900	%	January 15, 2030
5.000% senior notes	593.2		—		5.000	%	January 31, 2030
3.900% senior notes (9)	512.9		—		3.900	%	May 16, 2030
2.100% senior notes	744.1		743.1		2.100	%	June 15, 2030
0.950% senior notes (9)	512.6		546.0		0.950	%	October 5, 2030
1.875% senior notes	794.3		793.3		1.875	%	October 15, 2030
2.700% senior notes	695.6		695.0		2.700	%	April 15, 2031
4.625% senior notes (9)	511.7		545.2		4.625	%	May 16, 2031
2.300% senior notes	693.6		692.7		2.300	%	September 15, 2031
1.000% senior notes (9)	667.6		711.5		1.000	%	January 15, 2032
4.050% senior notes	643.7		642.9		4.050	%	March 15, 2032
5.650% senior notes	791.4		790.6		5.650	%	March 15, 2033
1.250% senior notes (9)	512.1		545.8		1.250	%	May 21, 2033


5.550% senior notes	841.4		840.6		5.550	%	July 15, 2033
5.900% senior notes	742.2		741.5		5.900	%	November 15, 2033
5.450% senior notes	640.6		—		5.450	%	February 15, 2034
4.100% senior notes (9)	510.5		—		4.100	%	May 16, 2034
5.400% senior notes	591.9		—		5.400	%	January 31, 2035
3.700% senior notes	592.6		592.4		3.700	%	October 15, 2049
3.100% senior notes	1,038.8		1,038.6		3.100	%	June 15, 2050
2.950% senior notes	1,023.8		1,023.2		2.950	%	January 15, 2051
Total American Tower Corporation debt	34,174.9		36,472.0

Series 2015-2 Notes (10)	524.7		524.1		3.482	%	June 16, 2025
Series 2018-1A Securities (11)	497.6		496.8		3.652	%	March 15, 2028
Series 2023-1A Securities (12)	1,288.0		1,284.4		5.490	%	March 15, 2028
Other subsidiary debt (13) (14)	—		3.4		Various		Various
Total American Tower subsidiary debt	2,310.3		2,308.7
Finance lease obligations	16.6		20.6
Total	36,501.8		38,801.3
Less current portion of long-term obligations	(3,693.0)		(3,067.3)
Long-term obligations	$	32,808.8	$	35,734.0

_______________

(1)Reflects interest rate or maturity date as of December 31, 2024.

(2)Accrues interest at a variable rate.

(4)Repaid in full on May 21, 2024 using borrowings under the 2021 Multicurrency Credit Facility.

(5)Repaid in full on January 12, 2024 using borrowings under the 2021 Multicurrency Credit Facility.

(6)Repaid in full on February 14, 2024 using borrowings under the 2021 Multicurrency Credit Facility.

(7)Repaid in full on May 15, 2024 using borrowings under the 2021 Credit Facility (as defined below).

(8)Repaid in full on January 14, 2025 using cash on hand and borrowings under the 2021 Multicurrency Credit Facility.

(9)Notes are denominated in EUR.

(10)Maturity date reflects the anticipated repayment date; final legal maturity is June 15, 2050.

(11)Maturity date reflects the anticipated repayment date; final legal maturity is March 15, 2048.

(12)Maturity date reflects the anticipated repayment date; final legal maturity is March 15, 2053.

(13)As of December 31, 2023, includes amounts drawn under letters of credit in Nigeria, which are denominated in USD.

Current portion of long-term obligations—The Company’s current portion of long-term obligations primarily includes (i) $650.0 million aggregate principal amount of the Company’s 2.950% senior unsecured notes due January 15, 2025 (the “2.950% Notes”), (ii) $750.0 million aggregate principal amount of the Company’s 2.400% senior unsecured notes due March 15, 2025, (iii) 500.0 million EUR aggregate principal amount of the Company’s 1.375% senior unsecured notes due April 4, 2025, (iv) $750.0 million aggregate principal amount of the Company’s 4.000% senior unsecured notes due June 1, 2025, (v) $500.0 million aggregate principal amount of the Company’s 1.300% senior unsecured notes due September 15, 2025 and (vi) $525.0 million aggregate principal amount of the Company’s Secured Tower Revenue Notes, Series 2015-2, Class A due June 16, 2025.

American Tower Corporation Debt

Bank Facilities

2021 Multicurrency Credit Facility—During the year ended December 31, 2024, the Company borrowed an aggregate of $5.4 billion, including 0.9 billion EUR ($1.0 billion as of the borrowing date) and repaid an aggregate of $6.1 billion, including 1.1 billion EUR ($1.2 billion as of the repayment date), of revolving indebtedness under its $6.0 billion senior unsecured multicurrency revolving credit facility, as amended and restated on December 8, 2021, as further amended (the “2021 Multicurrency Credit Facility”). The Company used the borrowings to repay outstanding indebtedness, including the 0.600% Notes, the 5.00% Notes and the 2021 EUR Three Year Delayed Draw Term Loan (each as defined below), and for general corporate purposes. The Company used the proceeds from the ATC TIPL Transaction to repay existing indebtedness under the

2021 Multicurrency Credit Facility. As of December 31, 2024, there were no amounts outstanding under the 2021 Multicurrency Credit Facility.

2021 Credit Facility—During the year ended December 31, 2024, the Company borrowed an aggregate of $1.5 billion and repaid an aggregate of $3.1 billion of revolving indebtedness under its $4.0 billion senior unsecured revolving credit facility, as amended and restated on December 8, 2021, as further amended (the “2021 Credit Facility”). The Company used the borrowings to repay outstanding indebtedness, including the 3.375% Notes (as defined below), and for general corporate purposes. As of December 31, 2024, there were no amounts outstanding under the 2021 Credit Facility.

Repayment of 2021 EUR Three Year Delayed Draw Term Loan—On May 21, 2024, the Company repaid all amounts outstanding under its 825 million EUR ($895.5 million as of the repayment date) unsecured term loan, as amended in December 2021 (the “2021 EUR Three Year Delayed Draw Term Loan”) using borrowings under the 2021 Multicurrency Credit Facility.


	Outstanding Principal Balance		Undrawn letters of credit		Maturity Date		Current margin over SOFR or EURIBOR (1)		Current commitment fee (2)
2021 Multicurrency Credit Facility	$	—	$	5.2	July 1, 2026	(3)	1.125	%	0.110	%
2021 Credit Facility	$	—	$	30.4	July 1, 2028	(3)	1.125	%	0.110	%
2021 Term Loan	$	1,000.0	N/A		January 31, 2027		1.125	%	N/A

_______________

(1) Secured Overnight Financing Rate (“SOFR”) applies to the USD denominated borrowings under the 2021 Multicurrency Credit Facility, the 2021 Credit Facility and the 2021 Term Loan.

(2) Fee on undrawn portion of each credit facility.

(3) Subject to two optional renewal periods.

Subsequent to December 31, 2024, the Company amended the 2021 Multicurrency Credit Facility, the 2021 Credit Facility and the 2021 Term Loan, as further discussed in note 24.

The loan agreements for each of the 2021 Multicurrency Credit Facility, the 2021 Credit Facility, and the 2021 Term Loan contain certain reporting, information, financial and operating covenants and other restrictions (including limitations on additional debt, guaranties, sales of assets and liens) with which the Company must comply. Failure to comply with the financial and operating covenants of the loan agreements could not only prevent the Company from being able to borrow additional funds under the revolving credit facilities, but may constitute a default, which could result in, among other things, the amounts outstanding under the applicable agreement, including all accrued interest and unpaid fees, becoming immediately due and payable.

Senior Notes

Repayments of Senior Notes

Repayment of 0.600% Senior Notes—On January 12, 2024, the Company repaid $500.0 million aggregate principal amount of the Company’s 0.600% senior unsecured notes due 2024 (the “0.600% Notes”) upon their maturity. The 0.600% Notes were repaid using borrowings under the 2021 Multicurrency Credit Facility. Upon completion of the repayment, none of the 0.600% Notes remained outstanding.

Repayment of 5.00% Senior Notes—On February 14, 2024, the Company repaid $1.0 billion aggregate principal amount of the Company’s 5.00% senior unsecured notes due 2024 (the “5.00% Notes”) upon their maturity. The 5.00% Notes were repaid using borrowings under the 2021 Multicurrency Credit Facility. Upon completion of the repayment, none of the 5.00% Notes remained outstanding.

Repayment of 3.375% Senior Notes—On May 15, 2024, the Company repaid $650.0 million aggregate principal amount of the Company’s 3.375% senior unsecured notes due 2024 (the “3.375% Notes”) upon their maturity. The 3.375% Notes were repaid using borrowings under the 2021 Credit Facility. Upon completion of the repayment, none of the 3.375% Notes remained outstanding.

Offerings of Senior Notes

5.200% Senior Notes and 5.450% Senior Notes Offering—On March 7, 2024, the Company completed a registered public offering of $650.0 million aggregate principal amount of 5.200% senior unsecured notes due 2029 (the “5.200% Notes”) and $650.0 million aggregate principal amount of 5.450% senior unsecured notes due 2034 (the “5.450% Notes”). The net proceeds from this offering were approximately $1,281.3 million, after deducting commissions and estimated expenses. The Company used the net proceeds to repay existing indebtedness under the 2021 Multicurrency Credit Facility.

3.900% Senior Notes and 4.100% Senior Notes Offering—On May 29, 2024, the Company completed a registered public offering of 500.0 million EUR ($540.1 million at the date of issuance) aggregate principal amount of 3.900% senior unsecured notes due 2030 (the “3.900% Notes”) and 500.0 million EUR ($540.1 million at the date of issuance) aggregate principal amount of 4.100% senior unsecured notes due 2034 (the “4.100% Notes”). The net proceeds from this offering were approximately 988.4 million EUR (approximately $1,067.5 million at the date of issuance), after deducting commissions and estimated expenses. The Company used the net proceeds to repay existing EUR indebtedness under the 2021 Multicurrency Credit Facility.

5.000% Senior Notes and 5.400% Senior Notes Offering— On November 21, 2024, the Company completed a registered public offering of $600.0 million aggregate principal amount of 5.000% senior unsecured notes due 2030 (the “5.000% Notes”) and $600.0 million aggregate principal amount of 5.400% senior unsecured notes due 2035 (the “5.400% Notes” and, collectively with the 5.200% Notes, the 5.450% Notes, the 3.900% Notes, the 4.100% Notes and the 5.000% Notes, the “Notes”). The net proceeds from this offering were approximately $1,183.7 million, after deducting commissions and estimated expenses. The Company used the net proceeds to repay existing indebtedness under the 2021 Multicurrency Credit Facility and the 2021 Credit Facility.

The following table outlines key terms related to the Company’s outstanding senior notes as of December 31, 2024:


			Adjustments to Principal Amount (1)
	Aggregate Principal Amount		2024	2023	Interest payments due (2)	Issue Date	Par Call Date (3)
2.950% Notes	$	650.0	—	(1.8)	January 15 and July 15	June 13, 2019	December 15, 2024
2.400% Notes	750.0		(0.3)	(1.5)	March 15 and September 15	January 10, 2020	February 15, 2025
1.375% Notes (4)	517.7		(0.4)	(1.9)	April 4	April 6, 2017	January 4, 2025
4.000% Notes	750.0		(0.6)	(1.9)	June 1 and December 1	May 7, 2015	March 1, 2025
1.300% Notes	500.0		(0.7)	(1.7)	March 15 and September 15	June 3, 2020	August 15, 2025
4.400% Notes	500.0		(0.7)	(1.3)	February 15 and August 15	January 12, 2016	November 15, 2025
1.600% Notes	700.0		(1.5)	(2.6)	April 15 and October 15	March 29, 2021	March 15, 2026
1.950% Notes (4)	517.7		(1.3)	(2.3)	May 22	May 22, 2018	February 22, 2026
1.450% Notes	600.0		(2.6)	(4.1)	March 15 and September 15	September 27, 2021	August 15, 2026
3.375% Notes	1,000.0		(3.4)	(5.3)	April 15 and October 15	May 13, 2016	July 15, 2026
3.125% Notes	400.0		(0.7)	(1.1)	January 15 and July 15	September 30, 2016	October 15, 2026
2.750% Notes	750.0		(2.0)	(3.0)	January 15 and July 15	October 3, 2019	November 15, 2026
0.450% Notes (4)	776.5		(2.4)	(3.6)	January 15	May 21, 2021	November 15, 2026
0.400% Notes (4)	517.7		(2.7)	(3.7)	February 15	October 5, 2021	December 15, 2026
3.650% Notes	650.0		(3.6)	(5.2)	March 15 and September 15	April 1, 2022	February 15, 2027
4.125% Notes (4)	621.2		(2.7)	(3.7)	May 16	May 16, 2023	March 16, 2027
3.55% Notes	750.0		(2.1)	(2.9)	January 15 and July 15	June 30, 2017	April 15, 2027
3.600% Notes	700.0		(3.0)	(4.0)	January 15 and July 15	December 8, 2017	October 15, 2027
0.500% Notes (4)	776.5		(3.9)	(5.1)	January 15	September 10, 2020	October 15, 2027
1.500% Notes	650.0		(2.2)	(2.9)	January 31 and July 31	November 20, 2020	November 30, 2027
5.500% Notes	700.0		(5.0)	(6.4)	March 15 and September 15	March 3, 2023	February 15, 2028
5.250% Notes	650.0		(4.8)	(6.1)	January 15 and July 15	May 25, 2023	June 15, 2028


5.800% Notes	750.0	(5.4)	(6.6)	May 15 and November 15	September 15, 2023	October 15, 2028
5.200% Notes	650.0	(6.3)	—	February 15 and August 15	March 7, 2024	January 15. 2029
3.950% Notes	600.0	(5.2)	(6.3)	March 15 and September 15	March 15, 2019	December 15, 2028
0.875% Notes (4)	776.5	(3.5)	(4.2)	May 21	May 21, 2021	February 21, 2029
3.800% Notes	1,650.0	(9.5)	(11.4)	February 15 and August 15	June 13, 2019	May 15, 2029
2.900% Notes	750.0	(4.9)	(5.8)	January 15 and July 15	January 10, 2020	October 15, 2029
5.000% Notes	600.0	(6.8)	—	January 31 and July 31	November 21, 2024	December 31, 2029
3.900% Notes (4)	517.7	(4.8)	—	May 16	May 29, 2024	February 16, 2030
2.100% Notes	750.0	(5.9)	(6.9)	June 15 and December 15	June 3, 2020	March 15, 2030
0.950% Notes (4)	517.7	(5.1)	(5.9)	October 5	October 5, 2021	July 5, 2030
1.875% Notes	800.0	(5.7)	(6.7)	April 15 and October 15	September 28, 2020	July 15, 2030
2.700% Notes	700.0	(4.4)	(5.0)	April 15 and October 15	March 29, 2021	January 15, 2031
4.625% Notes (4)	517.7	(6.0)	(6.7)	May 16	May 16, 2023	February 16, 2031
2.300% Notes	700.0	(6.4)	(7.3)	March 15 and September 15	September 27, 2021	June 15, 2031
1.000% Notes (4)	672.9	(5.3)	(6.0)	January 15	September 10, 2020	October 15, 2031
4.050% Notes	650.0	(6.3)	(7.1)	March 15 and September 15	April 1, 2022	December 15, 2031
5.650% Notes	800.0	(8.6)	(9.4)	March 15 and September 15	March 3, 2023	December 15, 2032
1.250% Notes (4)	517.7	(5.6)	(6.1)	May 21	May 21, 2021	February 21, 2033
5.550% Notes	850.0	(8.6)	(9.4)	January 15 and July 15	May 25, 2023	April 15, 2033
5.900% Notes	750.0	(7.8)	(8.5)	May 15 and November 15	September 15, 2023	August 15, 2033
5.450% Notes	650.0	(9.4)	—	February 15 and August 15	March 7, 2024	November 15. 2033
4.100% Notes (4)	517.7	(7.2)	—	May 16	May 29, 2024	February 16. 2034
5.400% Notes	600.0	(8.1)	—	January 31 and July 31	November 21, 2024	October 31, 2034
3.700% Notes	600.0	(7.4)	(7.6)	April 15 and October 15	October 3, 2019	April 15, 2049
3.100% Notes (5)	1,050.0	(11.2)	(11.4)	June 15 and December 15	June 3, 2020	December 15, 2049
2.950% Notes (6)	1,050.0	(26.2)	(26.8)	January 15 and July 15	November 20, 2020	July 15, 2050

_______________

(1) Includes unamortized discounts, premiums and debt issuance costs.

(4) Notes are denominated in EUR.

(5) The original issue date for the initial 3.100% Notes was June 3, 2020. The issue date for the reopened 3.100% Notes was September 28, 2020.

(6) The original issue date for the initial 2.950% Notes was November 20, 2020. The issue date for the reopened 2.950% Notes was September 27, 2021.

The Company may redeem each series of senior notes at any time, subject to the terms of the applicable supplemental indenture, in whole or in part, at a redemption price equal to 100% of the principal amount of the notes plus a make-whole premium, as applicable, together with accrued interest to the redemption date. In addition, if the Company undergoes a change of control and corresponding ratings decline, each as defined in the applicable supplemental indenture for the notes, the Company may be required to repurchase all of the applicable notes at a purchase price equal to 101% of the aggregate principal amount of such notes, plus accrued and unpaid interest (including additional interest, if any), up to but not including the repurchase date. The notes rank equally in right of payment with all of the Company’s other senior unsecured debt obligations and are structurally subordinated to all existing and future indebtedness and other obligations of its subsidiaries.

Each applicable supplemental indenture for the notes contains certain covenants that restrict the Company’s ability to merge, consolidate or sell assets and its (together with its subsidiaries’) ability to incur liens. These covenants are subject to a number of exceptions, including that the Company and its subsidiaries may incur certain liens on assets, mortgages or other liens securing indebtedness if the aggregate amount of indebtedness secured by such liens does not exceed 3.5x Adjusted EBITDA,

as defined in the applicable supplemental indenture. As of December 31, 2024, the Company was in compliance with each of these covenants.

American Tower Subsidiary Debt

Securitizations

The Company has several securitizations in place. Cash flows generated by the communications sites that secure the securitized debt of the Company are only available for payment of such debt and are not available to pay the Company’s other obligations or the claims of its creditors. However, subject to certain restrictions, the Company holds the right to receive the excess cash flows not needed to service the securitized debt and other obligations arising out of the securitizations. The securitized debt is the obligation of the issuers thereof or borrowers thereunder, as applicable, and their subsidiaries, and not of the Company or its other subsidiaries.

American Tower Secured Revenue Notes, Series 2015-1, Class A and Series 2015-2, Class A—In May 2015, GTP Acquisition Partners I, LLC (“GTP Acquisition Partners”), one of the Company’s wholly owned subsidiaries, refinanced existing debt with cash on hand and proceeds from a private issuance (the “2015 Securitization”) of $350.0 million of American Tower Secured Revenue Notes, Series 2015-1, Class A, which were subsequently repaid on the June 2020 payment date, and $525.0 million of American Tower Secured Revenue Notes, Series 2015-2, Class A (the “Series 2015-2 Notes”).

The Series 2015-2 Notes were issued by GTP Acquisition Partners pursuant to a Third Amended and Restated Indenture and related series supplements, each dated as of May 29, 2015 (collectively, the “2015 Indenture”), between GTP Acquisition Partners and its subsidiaries (the “GTP Entities”) and The Bank of New York Mellon, as trustee. The effective weighted average life and interest rate of the 2015 Notes was 8.1 years and 3.029%, respectively, as of the date of issuance.

The outstanding Series 2015-2 Notes are secured by (i) mortgages, deeds of trust and deeds to secure debt on substantially all of the 3,338 communications sites (the “2015 Secured Sites”) owned by the GTP Entities and their operating cash flows, (ii) a security interest in substantially all of the personal property and fixtures of the GTP Entities, including GTP Acquisition Partners’ equity interests in its subsidiaries and (iii) the rights of the GTP Entities under a management agreement. American Tower Holding Sub II, LLC, whose only material assets are its equity interests in GTP Acquisition Partners, has guaranteed repayment of the Series 2015-2 Notes and pledged its equity interests in GTP Acquisition Partners as security for such payment obligations.

Secured Tower Revenue Securities, Series 2023-1, Subclass A and Series 2023-1, Subclass R, Series 2018-1, Subclass A and Series 2018-1, Subclass R—On March 13, 2023, the Company completed a securitization transaction (the “2023 Securitization”), in which American Tower Trust I (the “Trust”) issued $1.3 billion aggregate principal amount of Secured Tower Revenue Securities, Series 2023-1, Subclass A (the “Series 2023-1A Securities”). To satisfy the applicable risk retention requirements of Regulation RR promulgated under the Securities Exchange Act of 1934, as amended (the “Exchange Act” and, such requirements, the “Risk Retention Rules”), the Trust issued, and one of the Company’s affiliates purchased, $68.5 million aggregate principal amount of Secured Tower Revenue Securities, Series 2023-1, Subclass R (the “Series 2023-1R Securities” and, together with the Series 2023-1A Securities, the “2023 Securities”) to retain an “eligible horizontal residual interest” (as defined in the Risk Retention Rules) in an amount equal to at least 5% of the fair value of the 2023 Securities.

On March 29, 2018, the Company completed a securitization transaction (the “2018 Securitization,” and, together with the 2023 Securitization, the “Trust Securitizations”), in which the Trust issued $500.0 million aggregate principal amount of Secured Tower Revenue Securities, Series 2018-1, Subclass A (the “Series 2018-1A Securities”). To satisfy the Risk Retention Rules, the Trust issued, and one of the Company’s affiliates purchased, $26.4 million aggregate principal amount of Secured Tower Revenue Securities, Series 2018-1, Subclass R (the “Series 2018-1R Securities” and, together with the Series 2018-1A Securities, the “2018 Securities”) to retain an “eligible horizontal residual interest” (as defined in the Risk Retention Rules) in an amount equal to at least 5% of the fair value of the 2018 Securities.

The assets of the Trust consist of a nonrecourse loan broken into components or “componentized” (the “Loan”), which secures each of the 2018 Securities and the 2023 Securities. The AMT Asset Subs are jointly and severally liable under the Loan, which is secured primarily by mortgages on the AMT Asset Subs’ interests in 5,029 broadcast and wireless communications towers and related assets (the “Trust Sites”).

The 2023 Securities correspond to components of the Loan made to the AMT Asset Subs pursuant to the Second Supplement and Amendment dated as of March 13, 2023 (the “2023 Supplement”) to the Second Amended and Restated Loan and Security Agreement dated as of March 29, 2018 (the “Loan Agreement,” which continues to govern the 2018 Securities, and collectively, the “Trust Loan Agreement”).

The 2023 Securities (a) represent a pass-through interest in the components of the Loan corresponding to the 2023 Securities and (b) have an expected life of approximately five years with a final repayment date in March 2053. The Series 2023-1A Securities and the Series 2023-1R Securities have interest rates of 5.490% and 5.735%, respectively. Subject to certain limited exceptions described below, no payments of principal will be required to be made on the components of the Loan corresponding to the 2023 Securities prior to the monthly payment date in March 2028, which is the anticipated repayment date for those components.

The 2018 Securities (a) represent a pass-through interest in the components of the Loan corresponding to the 2018 Securities and (b) have an expected life of approximately ten years with a final repayment date in March 2048. The Series 2018-1A Securities have an interest rate of 3.652% and the Series 2018-1R Securities have an interest rate of 4.459%. Subject to certain limited exceptions described below, no payments of principal will be required to be made on the components of the Loan corresponding to the 2018 Securities prior to the monthly payment date in March 2028, which is the anticipated repayment date for such components.

The AMT Asset Subs are required to make monthly payments of interest on the Loan. The debt service on the Loan will be paid solely from the cash flows generated from the operation of the Trust Sites held by the AMT Asset Subs.

The Loan is secured by (1) mortgages, deeds of trust and deeds to secure debt on substantially all of the Trust Sites and their operating cash flows, (2) a security interest in substantially all of the AMT Asset Subs’ personal property and fixtures and (3) the AMT Asset Subs’ rights under that certain management agreement among the AMT Asset Subs and SpectraSite Communications, LLC entered into in March 2013. American Tower Holding Sub, LLC (the “Guarantor”), whose only material assets are its equity interests in each of the AMT Asset Subs, and American Tower Guarantor Sub, LLC whose only material asset is its equity interests in the Guarantor, have each guaranteed repayment of the Loan and pledged their equity interests in their respective subsidiary or subsidiaries as security for such payment obligations.

Under the terms of the Loan Agreement and the 2015 Indenture, amounts due will be paid from the cash flows generated by the Trust Sites or the 2015 Secured Sites, respectively, which must be deposited into certain reserve accounts, and thereafter distributed, solely pursuant to the terms of the Loan Agreement or 2015 Indenture, as applicable. On a monthly basis, after payment of all required amounts under the Loan Agreement or 2015 Indenture, as applicable, including interest payments, subject to the conditions described below, the excess cash flows generated from the operation of such assets are released to the AMT Asset Subs or GTP Acquisition Partners, as applicable, which can then be distributed to, and used by, the Company.

In order to distribute any excess cash flow to the Company, the AMT Asset Subs and GTP Acquisition Partners must each maintain a specified debt service coverage ratio (the “DSCR”), which is generally calculated as the ratio of the net cash flow (as defined in the applicable agreement) to the amount of interest, servicing fees and trustee fees required to be paid over the succeeding 12 months on the principal amount of the Loan or the 2015 Notes, as applicable, that will be outstanding on the payment date following such date of determination. If the DSCR were equal to or below 1.30x (the “Cash Trap DSCR”) for any quarter, then all cash flow in excess of amounts required to make debt service payments, fund required reserves, pay management fees and budgeted operating expenses and make other payments required under the applicable transaction documents, referred to as excess cash flow, will be deposited into a reserve account (the “Cash Trap Reserve Account”) instead of being released to the AMT Asset Subs or GTP Acquisition Partners, as applicable. The funds in the Cash Trap Reserve Account will not be released to the AMT Asset Subs or GTP Acquisition Partners, as applicable, unless the DSCR exceeds the Cash Trap DSCR for two consecutive calendar quarters.

Additionally, an “amortization period” commences if, as of the end of any calendar quarter, the DSCR is equal to or below 1.15x (the “Minimum DSCR”) and will continue to exist until the DSCR exceeds the Minimum DSCR for two consecutive calendar quarters. With respect to the Trust Securities, an “amortization period” also commences if, on the anticipated repayment date the component of the Loan corresponding to the applicable subclass of the Trust Securities has not been repaid in full, provided that such amortization period shall apply with respect to such component that has not been repaid in full. If the Series 2015-2 Notes have not been repaid in full on the applicable anticipated repayment date, additional interest will accrue on the unpaid principal balance of the Series 2015-2 Notes, and such notes will begin to amortize on a monthly basis from excess cash flow. During an amortization period, all excess cash flow and any amounts then in the applicable Cash Trap Reserve Account would be applied to pay the principal of the Loan or the Series 2015-2 Notes, as applicable, on each monthly payment date.

The Loan and the Series 2015-2 Notes may be prepaid in whole or in part at any time, provided such payment is accompanied by the applicable prepayment consideration. If the prepayment occurs within (i) 18 months of the anticipated repayment date with respect to the Series 2015-2 Notes, (ii) 36 months of the anticipated repayment date with respect to the Series 2018 Securities, and (iii) 12 months of the anticipated repayment date for the 2023 Securities, no prepayment consideration is due.

The Loan Agreement and the 2015 Indenture include operating covenants and other restrictions customary for transactions subject to rated securitizations. Among other things, the AMT Asset Subs and the GTP Entities, as applicable, are prohibited from incurring other indebtedness for borrowed money or further encumbering their assets subject to customary carve-outs for ordinary course trade payables and permitted encumbrances (as defined in the Loan Agreement or the 2015 Indenture, as applicable). The organizational documents of the AMT Asset Subs and the GTP Entities contain provisions consistent with rating agency securitization criteria for special purpose entities, including the requirement that they maintain independent directors. The Loan Agreement and the 2015 Indenture also contain certain covenants that require the AMT Asset Subs or GTP Acquisition Partners, as applicable, to provide the respective trustee with regular financial reports and operating budgets, promptly notify such trustee of events of default and material breaches under the Loan Agreement and other agreements related to the Trust Sites or the 2015 Indenture and other agreements related to the 2015 Secured Sites, as applicable, and allow the applicable trustee reasonable access to the sites, including the right to conduct site investigations.

A failure to comply with the covenants in the Loan Agreement or the 2015 Indenture could prevent the AMT Asset Subs or GTP Acquisition Partners, as applicable, from distributing excess cash flow to the Company. Furthermore, if the AMT Asset Subs or GTP Acquisition Partners were to default on the Loan or the Series 2015-2 Notes, the applicable trustee may seek to foreclose upon or otherwise convert the ownership of all or any portion of the Trust Sites or the 2015 Secured Sites, respectively, in which case the Company could lose the revenue and cash flows associated with those assets. With respect to the Series 2015-2 Notes, upon the occurrence of, and during, an event of default, the applicable trustee may, in its discretion or at the direction of holders of more than 50% of the aggregate outstanding principal of the Series 2015-2 Notes, declare such notes immediately due and payable, in which case any excess cash flow would need to be used to pay holders of such notes.

Further, under the Loan Agreement and the 2015 Indenture, the AMT Asset Subs or GTP Acquisition Partners, respectively, are required to maintain reserve accounts, including for ground rents, real estate and personal property taxes and insurance premiums, and, under the 2015 Indenture and in certain circumstances under the Loan Agreement, to reserve a portion of advance rents from tenants on the Trust Sites. Based on the terms of the Loan Agreement and the 2015 Indenture, all rental cash receipts received for each month are reserved for the succeeding month and held in an account controlled by the applicable trustee and then released. The $53.9 million held in the reserve accounts with respect to the Trust Securitizations and the $6.9 million held in the reserve accounts with respect to the 2015 Securitization as of December 31, 2024 are classified as Restricted cash on the Company’s accompanying consolidated balance sheets.

Other Subsidiary Debt—As of December 31, 2023, the Company’s other subsidiary debt included drawn letters of credit in Nigeria (the “Nigeria Letters of Credit”).

Amounts outstanding and key terms of other subsidiary debt consisted of the following as of December 31, (in millions, except percentages):


	Carrying Value (Denominated Currency)				Carrying Value (USD)				Interest Rate	Maturity Date
	2024		2023		2024		2023
Nigeria Letters of Credit (1)	$	—	$	3.4	$	—	$	3.4	Various	Various

_______________

Each of the agreements governing the other subsidiary debt contains contractual covenants and other restrictions. Failure to comply with certain of the financial and operating covenants could constitute a default under the applicable debt agreement, which could result in, among other things, the amounts outstanding, including all accrued interest and unpaid fees, becoming immediately due and payable.

Finance Lease Obligations—The Company’s finance lease obligations approximated $16.6 million and $20.6 million as of December 31, 2024 and 2023, respectively. Finance lease obligations are described further in note 4.

Maturities—Aggregate principal maturities of long-term debt, including finance leases, for the next five years and thereafter are expected to be:


Fiscal Year	Amount
2025	$	3,693.0
2026	3,319.3
2027	5,466.7
2028	6,027.4
2029	3,677.0
Thereafter	14,572.9
Total cash obligations	36,756.3
Unamortized discounts, premiums and debt issuance costs, net	(254.5)
Balance as of December 31, 2024	$	36,501.8

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481544/470-10-50-6

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481544/470-10-50-6

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Publisher FASB
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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-Subparagraph (SX 210.4-08(c))
-Publisher FASB
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Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
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-URI https://asc.fasb.org/470/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482925/835-30-45-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Name Accounting Standards Codification
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-Paragraph 1B
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-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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Reference 16: http://www.xbrl.org/2003/role/disclosureRef
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Reference 17: http://www.xbrl.org/2003/role/disclosureRef
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Reference 18: http://www.xbrl.org/2003/role/disclosureRef
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Reference 19: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

DISCONTINUED OPERATIONS - Components of Loss From Discontinued Operations (Details) - USD ($) $ in Millions		3 Months Ended	12 Months Ended
	Sep. 12, 2024	Sep. 30, 2023	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loss on sale of ATC TIPL			$ (1,245.5)	$ 0.0	$ 0.0
Impairment, Intangible Asset, Finite-Lived, Statement of Income or Comprehensive Income [Extensible Enumeration]					Loss from discontinued operations, net of taxes
Loss from discontinued operations, net of taxes			(978.3)	(71.4)	$ (276.5)
Discontinued Operations, Disposed of by Sale \| ATC TIPL
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Revenue			911.2	1,132.0	1,065.7
Cost of operations			(473.8)	(699.1)	(694.6)
Depreciation, amortization and accretion			(96.0)	(158.0)	(190.2)
Selling, general, administrative and development expense			(58.7)	(46.5)	(70.2)
Other operating expense			(6.7)	(7.0)	(497.0)
Loss on sale of ATC TIPL	$ (1,245.5)		(1,245.5)	0.0	0.0
Goodwill impairment		$ (322.0)	0.0	(322.0)	0.0
Operating loss			(969.5)	(100.6)	(386.3)
Interest income			30.7	24.8	22.5
Interest expense			(7.6)	(10.0)	(0.5)
Other income (expense), net			46.5	77.8	(1.0)
Loss from discontinued operations before taxes			(899.9)	(8.0)	(365.3)
Income tax provision (benefit)			78.4	63.4	(88.8)
Loss from discontinued operations, net of taxes			$ (978.3)	$ (71.4)	$ (276.5)
Reclassification of cumulative translation adjustment	$ 1,072.3

DISCONTINUED OPERATIONS - Assets of Discontinued Operations (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cash and cash equivalents	$ 0.0	$ 219.6	$ 479.5
Restricted cash	0.0	0.4	$ 1.2
Total current assets of discontinued operations	0.0	729.6
Total non-current assets of discontinued operations	0.0	2,820.9
ATC TIPL \| Discontinued Operations, Disposed of by Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cash and cash equivalents	0.0	219.6
Restricted cash	0.0	0.4
Accounts receivable, net	0.0	122.2
Prepaid and other current assets	0.0	387.4
Total current assets of discontinued operations	0.0	729.6
Property and equipment, net	0.0	925.6
Goodwill	0.0	555.5
Other intangible assets, net	0.0	588.4
Deferred rent	0.0	43.6
Right-of-use asset	0.0	673.7
Notes receivable and other non-current assets		34.1
Total non-current assets of discontinued operations	0.0	2,820.9
Total assets of discontinued operations	$ 0.0	$ 3,550.5

OTHER OPERATING EXPENSE - Schedule of Other Operating Expenses (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Schedule of intangible asset impairment [Line Items]
Impairment charges	$ 68.6	$ 200.0	$ 147.3
Net losses on sales or disposals of assets	17.9	131.3	36.8
Other operating (income) expense	(12.4)	39.4	86.5
Total Other operating expenses	74.1	370.7	270.6
Proceeds from previous acquisition	23.4	10.3	$ 11.9
ATC Australia and ATC New Zealand \| Disposal Group, Disposed of by Sale, Not Discontinued Operations
Schedule of intangible asset impairment [Line Items]
Gain on sale	$ 8.5
Mexico Fiber and ATC Poland
Schedule of intangible asset impairment [Line Items]
Net losses on sales or disposals of assets		$ 78.9

BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated foreign currency translation losses	$ 5,954.6	$ 5,739.5
Accumulated Foreign Currency Adjustment
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated foreign currency translation losses	$ 6,000.0	$ 5,700.0	$ 5,700.0

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

- Definition

Amount, after tax, of accumulated increase (decrease) in equity from transaction and other event and circumstance from nonowner source.

+ References + Details

BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Property and Equipment (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2024	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Labor costs capitalized									$ 67.4	$ 62.1	$ 62.4
Right-of-use asset	$ 8,089.6				$ 8,205.1				8,089.6	8,205.1
Operating lease, liability	$ 7,452.3				$ 7,505.7				7,452.3	7,505.7
Reduction in depreciation and amortization expense									$ (2,028.8)	$ (2,928.5)	$ (3,164.9)
Increase in earnings per diluted share (in dollars per share)	$ 2.62	$ (1.69)	$ 1.92	$ 1.96	$ 0.18	$ 1.26	$ 1.02	$ 0.72	$ 4.82	$ 3.18	$ 3.82
Service Life
Property, Plant and Equipment [Line Items]
Right-of-use asset	$ 515.0								$ 515.0
Operating lease, liability	$ 515.0								515.0
Reduction in depreciation and amortization expense									730.0
Reduction in depreciation and amortization expense after tax									$ 649.0
Increase in earnings per diluted share (in dollars per share)									$ 1.39
Tower
Property, Plant and Equipment [Line Items]
Estimated useful life of respective assets	30 years				20 years				30 years	20 years
Minimum
Property, Plant and Equipment [Line Items]
Operating history, period									20 years
Maximum
Property, Plant and Equipment [Line Items]
Estimated useful life of respective assets	30 years								30 years

INCOME TAXES - Income Tax Provision From Continuing Operations (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Current:
Federal	$ (1.1)	$ (1.0)	$ (6.5)
State	(8.0)	(4.9)	(5.8)
Foreign	(304.9)	(253.0)	(240.4)
Deferred:
Federal	(7.6)	1.8	(2.8)
State	(1.2)	0.8	0.8
Foreign	(43.5)	165.5	141.9
Income tax provision	$ (366.3)	$ (90.8)	$ (112.8)

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 270
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482964/270-10-50-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (ee)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
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-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12

Reference 4: http://www.xbrl.org/2003/role/exampleRef
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-Publisher FASB
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-Paragraph 1
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-Section 50
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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-SubTopic 10
-Topic 235
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

+ Details

BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Asset Retirement Obligations (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Asset Retirement Obligation [Line Items]
Increase in asset retirement obligation	$ 2,393.8	$ 2,080.0	$ 1,973.0
Increase in long-lived tangible asset	19,056.8	18,863.2
Decrease to accretion expense	(35.5)	$ (112.7)
Change in Settlement Dates
Asset Retirement Obligation [Line Items]
Increase in asset retirement obligation	470.0
Increase in long-lived tangible asset	470.0
Future cash outlay	875.0
Decrease to accretion expense	$ 75.0
Minimum
Asset Retirement Obligation [Line Items]
Operating history, period	20 years

STOCK-BASED COMPENSATION - Narrative (Details) - USD ($) $ in Millions		1 Months Ended	12 Months Ended
	Mar. 09, 2023	Dec. 31, 2022	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Discount from market price			15.00%
Options granted (in shares)			0	0	0
Intrinsic value of stock options			$ 43.3	$ 9.3	$ 34.3
Cash received from exercise of stock options			31.3
Stock-based compensation expense			192.7	183.3	161.7
Discontinued Operations, Disposed of by Sale \| ATC TIPL
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense			$ 10.9	$ 12.4	$ 7.6
2007 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares issuable under stock incentive plan (in shares)			3,300,000
RSUs and Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	4 years	3 years
RSUs and Stock Options \| 2007 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	4 years
Stock Options And Time Based Restricted Stock Units \| 2007 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period		3 years
PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			3 years
Total unrecognized compensation expense			$ 4.4
Expected recognition of stock award compensation expense weighted average period in years			1 year
Units granted (in shares)			122,042
Stock-based compensation expense			$ 33.7
PSUs \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of potential target shares			0.00%
PSUs \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of potential target shares			200.00%
PSUs \| 2007 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			3 years
PSUs \| 2023 PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Units granted (in shares)			87,550	118,684
PSUs \| 2022 PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Units granted (in shares)			34,492		98,542
Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total unrecognized compensation expense			$ 0.0
Employee Stock Option \| 2007 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiration period			10 years
RSUs and PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total fair value of restricted stock units vested during period			$ 201.8
Restricted stock awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Units granted (in shares)			698,626
Restricted stock awards \| Discontinued Operations, Disposed of by Sale \| ATC TIPL
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense			$ 5.3
Restricted stock awards \| 2007 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total unrecognized compensation expense			$ 138.9
Restricted stock awards \| 2007 Plan \| Weighted Average
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected recognition of stock award compensation expense weighted average period in years			2 years

LONG-TERM OBLIGATIONS - Schedule of Other Subsidiary Debt (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Revolving Credit Facility \| Nigeria Letters of Credit
Debt Instrument [Line Items]
Line of credit	$ 0.0	$ 3.4
Letter of Credit \| Nigeria
Debt Instrument [Line Items]
Debt instrument, term	270 days	270 days

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
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+ Details

- Definition

The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement.

+ References + Details

FAIR VALUE MEASUREMENTS

12 Months Ended

Dec. 31, 2024

Fair Value Disclosures [Abstract]

FAIR VALUE MEASUREMENTS

The Company determines the fair value of its financial instruments based on the fair value hierarchy, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. Below are the three levels of inputs that may be used to measure fair value:


			Level 1			Quoted prices in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date.

			Level 2			Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.

			Level 3			Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.

Items Measured at Fair Value on a Recurring Basis—The fair values of the Company’s financial assets and liabilities that are required to be measured on a recurring basis at fair value were as follows:


	December 31, 2024					December 31, 2023
	Fair Value Measurements Using					Fair Value Measurements Using
	Level 1		Level 2		Level 3	Level 1		Level 2		Level 3
Assets:

Investments in equity securities (1)	$	98.6	$	5.3	—	$	28.2	$	5.3	—
VIL OCDs (2)	—		—		—	—		$	192.3	—

_______________

(1) Investments in equity securities are recorded in Notes receivable and other non-current assets in the consolidated balance sheets at fair value. Unrealized holding gains and losses for equity securities are recorded in Other income (expense) in the consolidated statements of operations in the current period. During the years ended December 31, 2024 and 2023, the Company recognized unrealized gains of $70.4 million and $4.3 million, respectively, for equity securities held as of December 31, 2024.

(2) As of December 31, 2023, included within Current assets of discontinued operations in the consolidated balance sheets.

VIL Optionally Convertible Debentures—In February 2023, and as amended in August 2023, one of the Company’s customers in India, Vodafone Idea Limited (“VIL”), issued optionally convertible debentures (the “VIL OCDs”) to the Company’s subsidiary, ATC TIPL, in exchange for VIL’s payment of certain amounts towards accounts receivables. The VIL OCDs were (a) to be repaid by VIL with interest or (b) convertible into equity of VIL. The VIL OCDs were issued for an aggregate face value of 16.0 billion INR (approximately $193.2 million on the date of issuance). The VIL OCDs were to mature in tranches with 8.0 billion INR (approximately $96.6 million on the date of issuance) maturing on August 27, 2023 and 8.0 billion INR (approximately $96.6 million on the date of issuance) maturing on August 27, 2024. In August 2023, the Company amended the agreements governing the VIL OCDs to, among other items, extend the maturity of the first tranche of the VIL OCDs to August 27, 2024. The fair value of the VIL OCDs at issuance was approximately $116.5 million. The VIL OCDs accrued interest at a rate of 11.2% annually. Interest was payable to ATC TIPL semi-annually, with the first payment received in September 2023.

On March 23, 2024, the Company converted an aggregate face value of 14.4 billion INR (approximately $172.7 million) of VIL OCDs into 1,440 million shares of equity of VIL (the “VIL Shares”).

On April 29, 2024, the Company completed the sale of 1,440 million VIL Shares at a price of 12.78 INR per share. The net proceeds for this transaction were approximately 18.0 billion INR (approximately $216.0 million at the date of settlement) after deducting commissions and fees.

On June 5, 2024, the Company completed the sale of the remaining aggregate face value of 1.6 billion INR (approximately $19.2 million) of the VIL OCDs. The net proceeds for this transaction, excluding accrued interest, were approximately 1.8 billion INR (approximately $22.0 million at the date of settlement) after deducting fees.

During the year ended December 31, 2024, the Company recognized a gain of $46.4 million on the sales of the VIL Shares and the VIL OCDs. The gains on the sales of the VIL Shares and the VIL OCDs are recorded in Loss from discontinued operations, net of taxes in the consolidated statements of operations in the current period. As of December 31, 2024, none of the VIL Shares or the VIL OCDs remained outstanding.

Items Measured at Fair Value on a Nonrecurring Basis

Assets Held and Used—The Company’s long-lived assets are recorded at amortized cost and, if impaired, are adjusted to fair value using Level 3 inputs.

During the year ended December 31, 2024, long-lived assets held and used with a carrying value of $32.3 billion included assets of less than $0.1 billion that were written down to their net realizable value of less than $0.1 billion as a result of an asset impairment charge of $68.6 million. During the year ended December 31, 2023, long-lived assets held and used, including amounts presented as discontinued operations, with a carrying value of $35.2 billion, included assets of approximately $0.2 billion that were written down to their net realizable value of less than $0.1 billion as a result of an asset impairment charge of $202.4 million. The asset impairment charges are recorded in Other operating expenses and Loss from discontinued operations, net of taxes in the accompanying consolidated statements of operations. These adjustments were determined by comparing the estimated fair value of the subject assets utilizing projected future discounted cash flows to be provided from the long-lived assets to the asset’s carrying value.

The significant unobservable inputs used to determine the fair value of the individual tower and acquired network location intangible assets subject to impairment in 2024 and 2023 included the following:

Year Ended December 31,

2024

2023

Range

Weighted Average

Range

Weighted Average

Terminal growth rates on cash flows (1)

2% to 8%

2% to 7%

Weighted average cost of capital (2)

6% to 56%

10%

6% to 46%

10%

_______________

(1)On a local currency basis.

(2)Specific to the country of each impaired asset. Due to the underlying economic characteristics of the markets the Company operates in, the weighted average cost of capital may vary significantly from market to market.

The table below indicates the percentages of the asset class that were subject to fair value measurement and subsequently impaired for the years ended December 31, 2024 and 2023:


	2024	2023
Towers and related assets	1%	1%
Acquired network location intangible assets	1%	1%
Acquired tenant-related intangible assets	< 1%	1%

The Company believes any reasonable change in the significant unobservable inputs utilized would not have a material impact on the fair value of the assets used in connection with the impairment recorded.

During the year ended December 31, 2023, the Company undertook a process to evaluate various strategic alternatives with respect to its India operations, which resulted in the ATC TIPL Transaction. As part of this process, the Company received indications of value from third parties, which were less than the carrying value of the India reporting unit. The Company incorporated this information as a significant input used to determine the fair value of the India reporting unit during the year ended December 31, 2023. During the year ended December 31, 2023, the Company recorded a goodwill impairment of $322.0 million, as discussed further in note 22.

The Company performed its annual goodwill impairment test as of December 31, 2023 and determined that the carrying amount of the Spain reporting unit exceeded its fair value, as calculated under an income approach using future discounted cash flows. The significant unobservable inputs used to determine the fair value of the Spain reporting until as of December 31, 2023 included the following:



			2023

Terminal growth rates on cash flows			2%
Weighted average cost of capital			7%

During the year ended December 31, 2023, the Company recorded a goodwill impairment of $80.0 million related to Spain, as discussed further in note 5.

There were no other items measured at fair value on a nonrecurring basis during the years ended December 31, 2024 and 2023.

Fair Value of Financial Instruments—The Company’s financial instruments for which the carrying value reasonably approximates fair value at December 31, 2024 and 2023 include cash and cash equivalents, restricted cash, accounts receivable and accounts payable. The Company’s estimates of fair value of its long-term obligations, including the current portion, are based primarily upon reported market values. For long-term debt not actively traded, fair value is estimated using either indicative price quotes or a discounted cash flow analysis using rates for debt with similar terms and maturities. As of December 31, 2024, the carrying value and fair value of long-term obligations, including the current portion, were $36.5 billion and $34.6 billion, respectively, of which $31.3 billion was measured using Level 1 inputs and $3.3 billion was measured using Level 2 inputs. As of December 31, 2023, the carrying value and fair value of long-term obligations, including the current portion, and amounts presented as discontinued operations, were $38.9 billion and $36.7 billion, respectively, of which $30.0 billion was measured using Level 1 inputs and $6.7 billion was measured using Level 2 inputs.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 107
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-107

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-Topic 820
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-Name Accounting Standards Codification
-Section 55
-Paragraph 100
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-URI https://asc.fasb.org/1943274/2147482078/820-10-55-100

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2E
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2E

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (h)
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-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
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-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 940
-SubTopic 820
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478119/940-820-50-1

+ Details

BUSINESS SEGMENTS - Summary of Geographic Information (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2024	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Revenues from External Customers and Long-Lived Assets [Line Items]
Total operating revenues	$ 2,547.6	$ 2,522.3	$ 2,544.7	$ 2,512.6	$ 2,456.1	$ 2,521.1	$ 2,514.6	$ 2,520.4	$ 10,127.2	$ 10,012.2	$ 9,645.4
Long-lived assets held	45,299.2				46,878.9				45,299.2	46,878.9
U.S. & Canada
Revenues from External Customers and Long-Lived Assets [Line Items]
Total operating revenues									5,441.8	5,359.2	5,247.4
U.S. & Canada \| Canada
Revenues from External Customers and Long-Lived Assets [Line Items]
Total operating revenues									13.3	11.7	12.5
Long-lived assets held	200.5				214.8				200.5	214.8
U.S. & Canada \| United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Total operating revenues									6,353.3	6,182.2	6,001.5
Long-lived assets held	28,214.3				28,337.4				28,214.3	28,337.4
Africa & APAC
Revenues from External Customers and Long-Lived Assets [Line Items]
Total operating revenues									1,208.0	1,244.4	1,203.8
Africa & APAC \| Australia
Revenues from External Customers and Long-Lived Assets [Line Items]
Total operating revenues									2.6	2.6	1.8
Africa & APAC \| Bangladesh
Revenues from External Customers and Long-Lived Assets [Line Items]
Total operating revenues									7.9	5.7	3.9
Africa & APAC \| New Zealand (4)
Revenues from External Customers and Long-Lived Assets [Line Items]
Total operating revenues									1.6	1.6	0.3
Africa & APAC \| Philippines
Revenues from External Customers and Long-Lived Assets [Line Items]
Total operating revenues									9.2	8.9	5.3
Africa & APAC \| Burkina Faso
Revenues from External Customers and Long-Lived Assets [Line Items]
Total operating revenues									40.1	38.1	41.2
Africa & APAC \| Ghana
Revenues from External Customers and Long-Lived Assets [Line Items]
Total operating revenues									126.7	128.6	144.4
Africa & APAC \| Kenya
Revenues from External Customers and Long-Lived Assets [Line Items]
Total operating revenues									141.1	120.0	123.1
Africa & APAC \| Niger
Revenues from External Customers and Long-Lived Assets [Line Items]
Total operating revenues									51.3	48.4	42.1
Africa & APAC \| Nigeria
Revenues from External Customers and Long-Lived Assets [Line Items]
Total operating revenues									384.4	495.4	477.2
Africa & APAC \| South Africa
Revenues from External Customers and Long-Lived Assets [Line Items]
Total operating revenues									174.0	157.9	164.8
Africa & APAC \| Uganda
Revenues from External Customers and Long-Lived Assets [Line Items]
Total operating revenues									269.1	237.2	199.7
Europe
Revenues from External Customers and Long-Lived Assets [Line Items]
Total operating revenues									834.7	775.6	735.7
Europe \| France
Revenues from External Customers and Long-Lived Assets [Line Items]
Total operating revenues									121.7	113.4	99.6
Long-lived assets held	1,265.6				1,338.8				1,265.6	1,338.8
Europe \| Germany
Revenues from External Customers and Long-Lived Assets [Line Items]
Total operating revenues									402.2	363.6	320.0
Long-lived assets held	5,429.5				5,721.2				5,429.5	5,721.2
Europe \| Poland
Revenues from External Customers and Long-Lived Assets [Line Items]
Total operating revenues									0.0	0.6	1.0
Europe \| Spain
Revenues from External Customers and Long-Lived Assets [Line Items]
Total operating revenues									310.8	298.0	315.1
Long-lived assets held	2,834.8				3,031.6				2,834.8	3,031.6
Latin America
Revenues from External Customers and Long-Lived Assets [Line Items]
Total operating revenues									1,717.9	1,798.3	1,691.9
Latin America \| Argentina
Revenues from External Customers and Long-Lived Assets [Line Items]
Total operating revenues									36.2	43.8	39.2
Long-lived assets held	185.3				190.1				185.3	190.1
Latin America \| Brazil
Revenues from External Customers and Long-Lived Assets [Line Items]
Total operating revenues									786.1	787.3	741.9
Long-lived assets held	1,592.1				1,996.5				1,592.1	1,996.5
Latin America \| Chile
Revenues from External Customers and Long-Lived Assets [Line Items]
Total operating revenues									103.7	106.3	91.8
Long-lived assets held	510.1				575.7				510.1	575.7
Latin America \| Colombia
Revenues from External Customers and Long-Lived Assets [Line Items]
Total operating revenues									110.4	117.0	106.1
Long-lived assets held	231.2				286.8				231.2	286.8
Latin America \| Costa Rica
Revenues from External Customers and Long-Lived Assets [Line Items]
Total operating revenues									25.3	24.7	23.9
Long-lived assets held	106.8				105.6				106.8	105.6
Latin America \| Mexico
Revenues from External Customers and Long-Lived Assets [Line Items]
Total operating revenues									544.9	611.8	588.9
Long-lived assets held	859.1				1,044.4				859.1	1,044.4
Latin America \| Paraguay
Revenues from External Customers and Long-Lived Assets [Line Items]
Total operating revenues									16.3	16.3	15.4
Long-lived assets held	86.4				92.3				86.4	92.3
Latin America \| Peru
Revenues from External Customers and Long-Lived Assets [Line Items]
Total operating revenues									95.0	91.1	$ 84.7
Long-lived assets held	805.6				832.9				805.6	832.9
Africa & APAC \| Australia
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets held	0.0				10.6				0.0	10.6
Africa & APAC \| Bangladesh
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets held	30.2				25.3				30.2	25.3
Africa & APAC \| New Zealand (4)
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets held	0.0				37.5				0.0	37.5
Africa & APAC \| Philippines
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets held	30.2				31.9				30.2	31.9
Africa \| Burkina Faso
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets held	230.9				257.4				230.9	257.4
Africa \| Ghana
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets held	244.9				269.2				244.9	269.2
Africa \| Kenya
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets held	672.7				557.2				672.7	557.2
Africa \| Niger
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets held	177.1				203.1				177.1	203.1
Africa \| Nigeria
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets held	325.4				456.5				325.4	456.5
Africa \| South Africa
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets held	327.4				337.0				327.4	337.0
Africa \| Uganda
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets held	$ 939.1				$ 925.1				$ 939.1	$ 925.1

EQUITY - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
EQUITY - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2017	Mar. 31, 2011
Class of Stock [Line Items]
Proceeds from stock options and employee stock purchase plan	$ 46.4
Number of shares repurchased	0
Treasury stock, shares (in shares)	11,004,000	11,004,000
Treasury stock repurchased amount	$ 1,301.2	$ 1,301.2
Accrued dividend RSU	22.5	$ 21.5
Paid dividend RSU	$ 12.0
2011 Buyback
Class of Stock [Line Items]
Stock repurchase program, authorized amount				$ 1,500.0
Treasury stock, shares (in shares)	14,451,325
Treasury stock repurchased amount	$ 1,500.0
2017 Buyback
Class of Stock [Line Items]
Stock repurchase program, authorized amount			$ 2,000.0
Treasury stock activity (in shares)	0

LEASES

12 Months Ended

Dec. 31, 2024

Leases [Abstract]

LEASES

The Company determines if an arrangement is a lease at the inception of the agreement. The Company considers an arrangement to be a lease if it conveys the right to control the use of the communications infrastructure or ground space underneath communications infrastructure for a period of time in exchange for consideration. The Company is both a lessor and a lessee.

Lessor—The Company is a lessor in most of its revenue arrangements, as property revenue is derived from tenant leases of specifically-identified, physically distinct space on or in the Company’s communications real estate assets. The Company’s lease arrangements with its tenants for its communications sites vary depending upon the region and the industry of the tenant and generally have initial non-cancellable terms of five to ten years with multiple renewal terms. The leases also contain provisions that periodically increase the rent due, typically annually, based on a fixed escalation percentage or an inflationary index, or a combination of both. The Company structures its leases to include financial penalties if a tenant terminates the lease, which serve to disincentivize tenants from terminating the lease prior to the expiration of the lease term.

The Company’s leasing arrangements outside of the United States may require that the Company provide power to the communications site through an electrical grid connection, diesel fuel generators or other sources and permit the Company to pass through the costs of, or otherwise charge for, these services. Many arrangements require that the communications site has power for a specified percentage of time. In most cases, if delivery of power falls below the specified service level, a corresponding reduction in revenue is recorded. The Company has determined that this performance obligation is satisfied over time for the duration of the lease. In addition, the Company provides power to its data center customers, which is passed through, or otherwise charged, to customers pursuant to the terms of the customer power arrangement. Customer power arrangements are coterminous with such customer’s underlying lease and have the same pattern of transfer over the lease term. This performance obligation is generally satisfied over time for the duration of the lease. Fixed power revenue is recognized each month over the term of the lease. For variable power arrangements, the Company recognizes revenue each month as the uncertainty related to the consideration is resolved.

The Company typically has more than one tenant on a site and, by performing ordinary course repair and maintenance work, can often lease a site, either through renewing existing agreements or leasing to new tenants, for periods beyond the existing tenant lease term. Accordingly, the Company has minimal risk with respect to the residual value of its leased assets.

Communications infrastructure assets are depreciated over their estimated useful lives, which generally do not exceed thirty years.

As of December 31, 2024, the Company does not have any material related party leases as a lessor. To the extent there are any intercompany leases, these are eliminated in consolidation.

Historically, the Company has been able to successfully renew its applicable leases as needed to ensure continuation of its revenue. Accordingly, the Company assumes that it will have access to the communications infrastructure or ground space underlying its sites when calculating future minimum rental receipts through the end of the respective terms. Future minimum rental receipts expected under non-cancellable operating lease agreements as of December 31, 2024, were as follows:


Fiscal Year	Amount (1) (2)
2025	$	7,749.4
2026	7,345.2
2027	7,196.5
2028	5,888.8
2029	5,536.1
Thereafter	20,040.7
Total	$	53,756.7

_______________

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

(2) Balances represent contractual amounts owned with no adjustments made for expected collectibility.

The Company generally does not enter into sales-type leases or direct financing leases. If incentives are present in the Company’s leases, they are evaluated to determine proper treatment and, to the extent present, are recorded in Other current assets and Other non-current assets in the consolidated balance sheets and amortized on a straight line basis over the corresponding lease term as a non-cash reduction to revenue. As of December 31, 2024, the remaining weighted average amortization period of the Company’s lease incentives was 10 years. As of December 31, 2024, Other current assets and Other non-current assets include $36.7 million and $328.7 million, respectively, for lease incentives. In addition, the Company’s leases do not include any lessee purchase options.

Lessee—The Company enters into arrangements as a lessee primarily for ground space underneath its communications sites. These arrangements are typically long-term lease agreements with initial non-cancellable terms of approximately five to ten years with one or more automatic or exercisable renewal periods and specified increases in lease payments upon renewal. The Company typically exercises its ground lease renewal options in order to utilize the assets used and provide ongoing tenant space on or in its communications sites through the end of the tenant lease term. Escalation clauses present in operating leases, excluding those tied to CPI or other inflation-based indices, are recognized on a straight-line basis over the estimated lease term of the applicable lease as a component of rent expense. Additionally, the escalations tied to CPI or another inflation-based index are considered variable lease payments. In certain circumstances, the Company enters into revenue sharing arrangements with the ground space owner, which results in variability in lease payments. In most markets outside of the United States, in the event there are no tenants on the communications site, the Company generally has unilateral termination rights and in certain situations, the lease is structured to allow for termination by the Company with minimal or no penalties. Ground lease arrangements usually include annual escalations and do not contain any residual value guarantees or restrictions on dividends, other financial obligations or other similar terms. The Company has entered into certain transactions whereby at the end of a lease, sublease or similar arrangement, the Company has the option to purchase the corresponding communications sites. These transactions are further described in note 18.

During the year ended December 31, 2024, as a result of the change in estimated useful lives of its assets as described in note 1, the Company reviewed its lease portfolio to determine whether additional renewal options were likely to be exercised. The Company concluded that these incremental renewals were lease modifications and has accounted for them accordingly. The extension of the asset lives resulted in an approximately $515 million increase in the right of use asset, as additional renewal options may be included, with an offsetting adjustment made to increase the related operating lease liability.

The Company’s lease liability is the present value of the remaining minimum rental payments to be made over the remaining lease term, including renewal options reasonably certain to be exercised. The Company also considers termination options and factors those into the determination of lease payments when appropriate. To determine the lease term, the Company considers all renewal periods that are reasonably certain to be exercised, taking into consideration all economic factors, including the

communications site’s estimated economic life (generally thirty years) and the respective lease terms of the Company’s tenants under the existing lease arrangements on such site.

The Company assesses its right-of-use asset and other lease-related assets for impairment, as described in note 1. During the years ended December 31, 2024, 2023 and 2022, the Company recorded $0.8 million, $6.7 million and $8.1 million, respectively, of impairment expense related to these assets.

As of December 31, 2024, the Company does not have any material related party leases as a lessee. The Company does not have any sale-leaseback arrangements as lessee and typically does not enter into leveraged leases.

The Company leases certain land, buildings, equipment and office space under operating leases and land and improvements, towers, equipment and vehicles under finance leases. As of December 31, 2024, operating lease assets were included in Right-of-use asset and finance lease assets were included in Property and equipment, net in the consolidated balance sheet.

Information about other lease-related balances is as follows:


	As of
	December 31, 2024		December 31, 2023
Operating leases:
Right-of-use asset	$	8,089.6	$	8,205.1

Current portion of lease liability	$	576.7	$	690.4
Lease liability	6,875.6		6,815.3
Total operating lease liability	$	7,452.3	$	7,505.7

Finance leases:
Current portion of lease liability	$	2.6	$	3.4
Lease liability	14.0		17.2
Total finance lease liability	$	16.6	$	20.6

As most of the Company’s leases do not specifically state an implicit rate, the Company uses a market-specific incremental borrowing rate consistent with the lease term as of the lease commencement date or upon a remeasurement event when calculating the present value of the remaining lease payments. The incremental borrowing rate reflects the cost to borrow on a securitized basis in each market. The remaining lease term does not reflect all renewal options available to the Company, only those renewal options that the Company has assessed as reasonably certain of being exercised taking into consideration the economic and other factors noted above.

The weighted-average remaining lease terms and incremental borrowing rates are as follows:


	As of
	December 31, 2024		December 31, 2023
Operating leases:
Weighted-average remaining lease term (years) (1)	14.3		11.9
Weighted-average incremental borrowing rate	6.5	%	5.5	%

Finance leases:
Weighted-average remaining lease term (years) (1)	19.2		16.2
Weighted-average incremental borrowing rate	7.9	%	7.4	%

_______________

(1) As of December 31, 2024, reflects the change in estimated useful lives as described in note 1.

The following table sets forth the components of lease cost for the years ended December 31,:


	2024		2023		2022
Operating lease cost	$	994.2	$	1,084.1	$	1,059.1
Variable lease costs not included in lease liability (1)	489.2		434.5		375.3

_______________

(1) Primarily includes property tax paid on behalf of the landlord.

The interest expense on finance lease liabilities was $1.0 million, $1.1 million and $1.1 million for the years ended December 31, 2024, 2023 and 2022, respectively. Assets held under finance leases are recorded in property and equipment and are depreciated over the lesser of the remaining lease term or the remaining useful life.

Supplemental cash flow information is as follows for the years ended December 31,:


	2024		2023		2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	(1,202.7)	$	(1,264.8)	$	(1,228.1)
Operating cash flows from finance leases	$	(1.0)	$	(1.1)	$	(1.1)
Financing cash flows from finance leases	$	(4.7)	$	(6.2)	$	(6.7)

Non-cash items:
New operating leases (1)	$	230.0	$	245.7	$	402.4
Operating lease modifications and reassessments (2)	$	859.9	$	405.9	$	80.5
Reduction of operating lease liability due to the ATC TIPL Transaction	$	(766.4)	$	—	$	—

_______________

(1) Amount includes new operating leases and leases acquired in connection with acquisitions.

(2) For the year ended December 31, 2024, reflects the change in estimated useful lives as described in note 1.

As of December 31, 2024, the Company does not have material operating or financing leases that have not yet commenced.

Maturities of operating and finance lease liabilities as of December 31, 2024 were as follows:


Fiscal Year	Operating Lease (1)		Finance Lease (1)
2025	$	986.9	$	4.2
2026	924.9		2.6
2027	886.1		2.1
2028	843.4		1.6
2029	801.7		1.2
Thereafter	7,088.1		19.5
Total lease payments	11,531.1		31.2
Less amounts representing interest	(4,078.8)		(14.6)
Total lease liability	7,452.3		16.6
Less current portion of lease liability	576.7		2.6
Non-current lease liability	$	6,875.6	$	14.0

_______________

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

LEASES

Communications infrastructure assets are depreciated over their estimated useful lives, which generally do not exceed thirty years.

As of December 31, 2024, the Company does not have any material related party leases as a lessor. To the extent there are any intercompany leases, these are eliminated in consolidation.


Fiscal Year	Amount (1) (2)
2025	$	7,749.4
2026	7,345.2
2027	7,196.5
2028	5,888.8
2029	5,536.1
Thereafter	20,040.7
Total	$	53,756.7

_______________

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

(2) Balances represent contractual amounts owned with no adjustments made for expected collectibility.

communications site’s estimated economic life (generally thirty years) and the respective lease terms of the Company’s tenants under the existing lease arrangements on such site.

Information about other lease-related balances is as follows:


	As of
	December 31, 2024		December 31, 2023
Operating leases:
Right-of-use asset	$	8,089.6	$	8,205.1

Current portion of lease liability	$	576.7	$	690.4
Lease liability	6,875.6		6,815.3
Total operating lease liability	$	7,452.3	$	7,505.7

Finance leases:
Current portion of lease liability	$	2.6	$	3.4
Lease liability	14.0		17.2
Total finance lease liability	$	16.6	$	20.6

The weighted-average remaining lease terms and incremental borrowing rates are as follows:


	As of
	December 31, 2024		December 31, 2023
Operating leases:
Weighted-average remaining lease term (years) (1)	14.3		11.9
Weighted-average incremental borrowing rate	6.5	%	5.5	%

Finance leases:
Weighted-average remaining lease term (years) (1)	19.2		16.2
Weighted-average incremental borrowing rate	7.9	%	7.4	%

_______________

(1) As of December 31, 2024, reflects the change in estimated useful lives as described in note 1.

The following table sets forth the components of lease cost for the years ended December 31,:


	2024		2023		2022
Operating lease cost	$	994.2	$	1,084.1	$	1,059.1
Variable lease costs not included in lease liability (1)	489.2		434.5		375.3

_______________

(1) Primarily includes property tax paid on behalf of the landlord.

Supplemental cash flow information is as follows for the years ended December 31,:


	2024		2023		2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	(1,202.7)	$	(1,264.8)	$	(1,228.1)
Operating cash flows from finance leases	$	(1.0)	$	(1.1)	$	(1.1)
Financing cash flows from finance leases	$	(4.7)	$	(6.2)	$	(6.7)

Non-cash items:
New operating leases (1)	$	230.0	$	245.7	$	402.4
Operating lease modifications and reassessments (2)	$	859.9	$	405.9	$	80.5
Reduction of operating lease liability due to the ATC TIPL Transaction	$	(766.4)	$	—	$	—

_______________

(1) Amount includes new operating leases and leases acquired in connection with acquisitions.

(2) For the year ended December 31, 2024, reflects the change in estimated useful lives as described in note 1.

As of December 31, 2024, the Company does not have material operating or financing leases that have not yet commenced.

Maturities of operating and finance lease liabilities as of December 31, 2024 were as follows:


Fiscal Year	Operating Lease (1)		Finance Lease (1)
2025	$	986.9	$	4.2
2026	924.9		2.6
2027	886.1		2.1
2028	843.4		1.6
2029	801.7		1.2
Thereafter	7,088.1		19.5
Total lease payments	11,531.1		31.2
Less amounts representing interest	(4,078.8)		(14.6)
Total lease liability	7,452.3		16.6
Less current portion of lease liability	576.7		2.6
Non-current lease liability	$	6,875.6	$	14.0

_______________

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

LEASES

Communications infrastructure assets are depreciated over their estimated useful lives, which generally do not exceed thirty years.

As of December 31, 2024, the Company does not have any material related party leases as a lessor. To the extent there are any intercompany leases, these are eliminated in consolidation.


Fiscal Year	Amount (1) (2)
2025	$	7,749.4
2026	7,345.2
2027	7,196.5
2028	5,888.8
2029	5,536.1
Thereafter	20,040.7
Total	$	53,756.7

_______________

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

(2) Balances represent contractual amounts owned with no adjustments made for expected collectibility.

communications site’s estimated economic life (generally thirty years) and the respective lease terms of the Company’s tenants under the existing lease arrangements on such site.

Information about other lease-related balances is as follows:


	As of
	December 31, 2024		December 31, 2023
Operating leases:
Right-of-use asset	$	8,089.6	$	8,205.1

Current portion of lease liability	$	576.7	$	690.4
Lease liability	6,875.6		6,815.3
Total operating lease liability	$	7,452.3	$	7,505.7

Finance leases:
Current portion of lease liability	$	2.6	$	3.4
Lease liability	14.0		17.2
Total finance lease liability	$	16.6	$	20.6

The weighted-average remaining lease terms and incremental borrowing rates are as follows:


	As of
	December 31, 2024		December 31, 2023
Operating leases:
Weighted-average remaining lease term (years) (1)	14.3		11.9
Weighted-average incremental borrowing rate	6.5	%	5.5	%

Finance leases:
Weighted-average remaining lease term (years) (1)	19.2		16.2
Weighted-average incremental borrowing rate	7.9	%	7.4	%

_______________

(1) As of December 31, 2024, reflects the change in estimated useful lives as described in note 1.

The following table sets forth the components of lease cost for the years ended December 31,:


	2024		2023		2022
Operating lease cost	$	994.2	$	1,084.1	$	1,059.1
Variable lease costs not included in lease liability (1)	489.2		434.5		375.3

_______________

(1) Primarily includes property tax paid on behalf of the landlord.

Supplemental cash flow information is as follows for the years ended December 31,:


	2024		2023		2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	(1,202.7)	$	(1,264.8)	$	(1,228.1)
Operating cash flows from finance leases	$	(1.0)	$	(1.1)	$	(1.1)
Financing cash flows from finance leases	$	(4.7)	$	(6.2)	$	(6.7)

Non-cash items:
New operating leases (1)	$	230.0	$	245.7	$	402.4
Operating lease modifications and reassessments (2)	$	859.9	$	405.9	$	80.5
Reduction of operating lease liability due to the ATC TIPL Transaction	$	(766.4)	$	—	$	—

_______________

(1) Amount includes new operating leases and leases acquired in connection with acquisitions.

(2) For the year ended December 31, 2024, reflects the change in estimated useful lives as described in note 1.

As of December 31, 2024, the Company does not have material operating or financing leases that have not yet commenced.

Maturities of operating and finance lease liabilities as of December 31, 2024 were as follows:


Fiscal Year	Operating Lease (1)		Finance Lease (1)
2025	$	986.9	$	4.2
2026	924.9		2.6
2027	886.1		2.1
2028	843.4		1.6
2029	801.7		1.2
Thereafter	7,088.1		19.5
Total lease payments	11,531.1		31.2
Less amounts representing interest	(4,078.8)		(14.6)
Total lease liability	7,452.3		16.6
Less current portion of lease liability	576.7		2.6
Non-current lease liability	$	6,875.6	$	14.0

_______________

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

PROPERTY AND EQUIPMENT - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 1,100.0	$ 1,400.0	$ 1,500.0
Amortization of right-of-use asset	$ 86.5	$ 138.5	$ 145.4

STOCK-BASED COMPENSATION - Summary of Stock-based Compensation Expenses (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 192.7	$ 183.3	$ 161.7
Share-based payment arrangement, accelerated cost	11.5
Discontinued Operations, Disposed of by Sale \| ATC TIPL
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense included in discontinued operations	$ 10.9	12.4	$ 7.6
Other Operating Expense
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense		$ 7.6

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 35
-Paragraph 1D
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480483/718-10-35-1D

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 35
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480483/718-10-35-3

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(ii)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iii)
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-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)(01)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)(02)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)(03)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)(04)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(ii)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(iii)
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-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(iii)(01)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(iii)(02)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(iii)(03)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
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-Publisher FASB
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Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Name Accounting Standards Codification
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-Paragraph 2
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Reference 22: http://www.xbrl.org/2003/role/disclosureRef
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Reference 23: http://www.xbrl.org/2003/role/disclosureRef
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Reference 24: http://www.xbrl.org/2003/role/disclosureRef
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Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(ii)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(iii)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(iv)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(v)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

+ Details

FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Dec. 31, 2024

Fair Value Disclosures [Abstract]

Schedule of Fair Value Level of Inputs

Below are the three levels of inputs that may be used to measure fair value:


			Level 1			Quoted prices in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date.

			Level 2			Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.

			Level 3			Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.

Year Ended December 31,

2024

2023

Range

Weighted Average

Range

Weighted Average

Terminal growth rates on cash flows (1)

2% to 8%

2% to 7%

Weighted average cost of capital (2)

6% to 56%

10%

6% to 46%

10%

_______________

(1)On a local currency basis.

The significant unobservable inputs used to determine the fair value of the Spain reporting until as of December 31, 2023 included the following:



			2023

Terminal growth rates on cash flows			2%
Weighted average cost of capital			7%

Key assumptions used to apply this pricing model were as follows:


	Year Ended December 31, 2024

Expected term (years)	2.81
Risk-free interest rate	4.31	%
Annualized volatility	26.75	%

Schedule of Fair Value of Assets and Liabilities Measured on a Recurring Basis

The fair values of the Company’s financial assets and liabilities that are required to be measured on a recurring basis at fair value were as follows:


	December 31, 2024					December 31, 2023
	Fair Value Measurements Using					Fair Value Measurements Using
	Level 1		Level 2		Level 3	Level 1		Level 2		Level 3
Assets:

Investments in equity securities (1)	$	98.6	$	5.3	—	$	28.2	$	5.3	—
VIL OCDs (2)	—		—		—	—		$	192.3	—

_______________

(2) As of December 31, 2023, included within Current assets of discontinued operations in the consolidated balance sheets.

Schedule of Percentages of the Asset Class that were Subject to Fair Value Measurement and Subsequently Impaired

The table below indicates the percentages of the asset class that were subject to fair value measurement and subsequently impaired for the years ended December 31, 2024 and 2023:


	2024	2023
Towers and related assets	1%	1%
Acquired network location intangible assets	1%	1%
Acquired tenant-related intangible assets	< 1%	1%

BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Retirement Plan (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Employers matching percentage	100.00%	100.00%	100.00%
Employee maximum annual contribution eligible for match	5.00%	5.00%	5.00%
Company's contribution	$ 15.0	$ 15.6	$ 15.8

OTHER OPERATING EXPENSE - Severance and Related Costs by Operating Segments (Details) $ in Millions	12 Months Ended
	Dec. 31, 2023 USD ($)
Other Expenses Table [Line Items]
Severance costs	$ 21.8
Restructuring Charges, Statement of Income or Comprehensive Income [Extensible Enumeration]	Other Operating Income (Expense), Net
Other
Other Expenses Table [Line Items]
Severance costs	$ 7.8
U.S. & Canada property \| Operating Segments
Other Expenses Table [Line Items]
Severance costs	2.4
Africa property \| Operating Segments
Other Expenses Table [Line Items]
Severance costs	0.7
Europe property \| Operating Segments
Other Expenses Table [Line Items]
Severance costs	2.8
Latin America property \| Operating Segments
Other Expenses Table [Line Items]
Severance costs	4.7
Services \| Operating Segments
Other Expenses Table [Line Items]
Severance costs	$ 3.4

EQUITY (Tables)

12 Months Ended

Dec. 31, 2024

Equity [Abstract]

Schedule of Dividends Declared

During the years ended December 31, 2024, 2023 and 2022, the Company declared the following cash distributions (per share data reflects actual amounts):


	For the year ended December 31,
	2024				2023				2022
	Distribution per share		Aggregate Payment Amount		Distribution per share		Aggregate Payment Amount		Distribution per share		Aggregate Payment Amount
Common Stock	$	6.48	$	3,027.3	$	6.45	$	3,006.7	$	5.86	$	2,715.3

Schedule of Stock by Class

The following table characterizes the tax treatment of distributions declared per share of common stock.


		For the year ended December 31,
		2024					2023					2022
		Per Share			%		Per Share			%		Per Share			%
Common Stock
	Ordinary dividend	$	6.5600		100.00	%	$	6.3100		100.00	%	$	4.3000		100.00	%
	Capital gains distribution	—			—		—			—		—			—
	Total	$	6.5600	(1)	100.00	%	$	6.3100	(2)	100.00	%	$	4.3000	(3)	100.00	%

_______________

- Definition

Tabular disclosure of an entity's stock, including par or stated value per share, number and dollar amount of share subscriptions, shares authorized, shares issued, shares outstanding, number and dollar amount of shares held in an employee trust, dividend per share, total dividends, share conversion features, par value plus additional paid in capital, the value of treasury stock and other information necessary to a fair presentation, and EPS information. Stock by class includes common, convertible, and preferred stocks which are not redeemable or redeemable solely at the option of the issuer. Includes preferred stock with redemption features that are solely within the control of the issuer and mandatorily redeemable stock if redemption is required to occur only upon liquidation or termination of the reporting entity. If more than one issue is outstanding, state the title of each issue and the corresponding dollar amount; dollar amount of any shares subscribed but unissued and the deduction of subscriptions receivable there from; number of shares authorized, issued, and outstanding.

+ References

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-Subparagraph (SX 210.5-02(27))
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+ Details

PROPERTY AND EQUIPMENT

12 Months Ended

Dec. 31, 2024

Property, Plant and Equipment [Abstract]

PROPERTY AND EQUIPMENT

Property and equipment (including assets held under finance leases) consisted of the following:


	Estimated Useful Lives (years)	As of
		December 31, 2024		December 31, 2023
Towers (1)	Up to 30	$	15,745.0	$	15,499.9
Equipment (2)	3 - 20	4,921.8		4,480.5
Buildings and improvements	Up to 40	3,786.3		3,775.1
Land and improvements (3)	Up to 30	4,311.0		4,265.4
Construction-in-progress		1,298.4		1,355.4
Total		30,062.5		29,376.3
Less accumulated depreciation		(11,005.7)		(10,513.1)
Property and equipment, net		$	19,056.8	$	18,863.2

_______________

(1) Beginning on January 1, 2024, towers are amortized over the remaining estimated useful life of the tower, taking into account residual value, generally up to 30 years. Prior to January 1, 2024, towers were amortized over the shorter of the term of the corresponding ground lease, taking into consideration residual value, or the estimated useful life of the tower, generally up to 20 years.

(2) Includes fiber, DAS and data center related assets.

(3) Estimated useful lives apply to improvements only.

Total depreciation expense for the years ended December 31, 2024, 2023 and 2022 was $1.1 billion, $1.4 billion and $1.5 billion, respectively. Depreciation expense includes amounts related to finance lease assets for the years ended December 31, 2024, 2023 and 2022 of $86.5 million, $138.5 million and $145.4 million, respectively.

Information about finance lease-related balances is as follows:


		As of December 31,
Finance leases:	Classification	2024		2023
Property and equipment	Towers	$	2,786.9	$	2,776.8
Accumulated depreciation		(1,638.7)		(1,581.3)
Property and equipment, net		$	1,148.2	$	1,195.5

Property and equipment	Buildings and improvements	$	185.1	$	192.6
Accumulated depreciation		(106.5)		(102.9)
Property and equipment, net		$	78.6	$	89.7

Property and equipment	Land	$	130.6	$	131.9
Accumulated depreciation		(0.2)		(0.1)
Property and equipment, net		$	130.4	$	131.8

Property and equipment	Equipment	$	35.0	$	41.6
Accumulated depreciation		(11.4)		(13.3)
Property and equipment, net		$	23.6	$	28.3

BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Changes in Allowances (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Balance as of January 1,	$ 325.2	$ 217.8	$ 232.5
Current year increases	130.5	66.5	59.9
Write-offs, recoveries and other	(51.6)		(74.6)
Write-offs, recoveries and other		40.9
Balance as of December 31,	$ 404.1	$ 325.2	$ 217.8

LONG-TERM OBLIGATIONS - Key Terms Related to Outstanding Senior Notes (Details) € in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2024 USD ($)	Nov. 21, 2024 USD ($)	May 29, 2024 USD ($)	May 29, 2024 EUR (€)	Mar. 07, 2024 USD ($)	Dec. 31, 2023 USD ($)	Sep. 27, 2021	Nov. 20, 2020	Sep. 28, 2020	Jun. 03, 2020
Debt Instrument [Line Items]
Adjustments to principal amount	$ (254.5)
Redemption price percentage	101.00%
Senior Notes
Debt Instrument [Line Items]
Redemption price percentage	100.00%
Senior Notes \| American Tower Corporation \| 2.950% Notes
Debt Instrument [Line Items]
Debt interest rate (as a percent)	2.95%
Aggregate Principal Amount	$ 650.0
Adjustments to principal amount	$ 0.0					$ (1.8)
Senior Notes \| American Tower Corporation \| 2.400% Notes
Debt Instrument [Line Items]
Debt interest rate (as a percent)	2.40%
Aggregate Principal Amount	$ 750.0
Adjustments to principal amount	$ (0.3)					(1.5)
Senior Notes \| American Tower Corporation \| 1.375% Notes
Debt Instrument [Line Items]
Debt interest rate (as a percent)	1.375%
Aggregate Principal Amount	$ 517.7
Adjustments to principal amount	$ (0.4)					(1.9)
Senior Notes \| American Tower Corporation \| 4.000% Notes
Debt Instrument [Line Items]
Debt interest rate (as a percent)	4.00%
Aggregate Principal Amount	$ 750.0
Adjustments to principal amount	$ (0.6)					(1.9)
Senior Notes \| American Tower Corporation \| 1.300% Notes
Debt Instrument [Line Items]
Debt interest rate (as a percent)	1.30%
Aggregate Principal Amount	$ 500.0
Adjustments to principal amount	$ (0.7)					(1.7)
Senior Notes \| American Tower Corporation \| 4.400% Notes
Debt Instrument [Line Items]
Debt interest rate (as a percent)	4.40%
Aggregate Principal Amount	$ 500.0
Adjustments to principal amount	$ (0.7)					(1.3)
Senior Notes \| American Tower Corporation \| 1.600% Notes
Debt Instrument [Line Items]
Debt interest rate (as a percent)	1.60%
Aggregate Principal Amount	$ 700.0
Adjustments to principal amount	$ (1.5)					(2.6)
Senior Notes \| American Tower Corporation \| 1.950% Notes
Debt Instrument [Line Items]
Debt interest rate (as a percent)	1.95%
Aggregate Principal Amount	$ 517.7
Adjustments to principal amount	$ (1.3)					(2.3)
Senior Notes \| American Tower Corporation \| 1.450% Notes
Debt Instrument [Line Items]
Debt interest rate (as a percent)	1.45%
Aggregate Principal Amount	$ 600.0
Adjustments to principal amount	$ (2.6)					(4.1)
Senior Notes \| American Tower Corporation \| 3.375% Notes
Debt Instrument [Line Items]
Debt interest rate (as a percent)	3.375%
Aggregate Principal Amount	$ 1,000.0
Adjustments to principal amount	$ (3.4)					(5.3)
Senior Notes \| American Tower Corporation \| 3.125% Notes
Debt Instrument [Line Items]
Debt interest rate (as a percent)	3.125%
Aggregate Principal Amount	$ 400.0
Adjustments to principal amount	$ (0.7)					(1.1)
Senior Notes \| American Tower Corporation \| 2.750% Notes
Debt Instrument [Line Items]
Debt interest rate (as a percent)	2.75%
Aggregate Principal Amount	$ 750.0
Adjustments to principal amount	$ (2.0)					(3.0)
Senior Notes \| American Tower Corporation \| 0.450% Notes
Debt Instrument [Line Items]
Debt interest rate (as a percent)	0.45%
Aggregate Principal Amount	$ 776.5
Adjustments to principal amount	$ (2.4)					(3.6)
Senior Notes \| American Tower Corporation \| 0.400% Notes
Debt Instrument [Line Items]
Debt interest rate (as a percent)	0.40%
Aggregate Principal Amount	$ 517.7
Adjustments to principal amount	$ (2.7)					(3.7)
Senior Notes \| American Tower Corporation \| 3.650% Notes
Debt Instrument [Line Items]
Debt interest rate (as a percent)	3.65%
Aggregate Principal Amount	$ 650.0
Adjustments to principal amount	$ (3.6)					(5.2)
Senior Notes \| American Tower Corporation \| 4.125% Notes
Debt Instrument [Line Items]
Debt interest rate (as a percent)	4.125%
Aggregate Principal Amount	$ 621.2
Adjustments to principal amount	$ (2.7)					(3.7)
Senior Notes \| American Tower Corporation \| 3.55% Notes
Debt Instrument [Line Items]
Debt interest rate (as a percent)	3.55%
Aggregate Principal Amount	$ 750.0
Adjustments to principal amount	$ (2.1)					(2.9)
Senior Notes \| American Tower Corporation \| 3.600% Notes
Debt Instrument [Line Items]
Debt interest rate (as a percent)	3.60%
Aggregate Principal Amount	$ 700.0
Adjustments to principal amount	$ (3.0)					(4.0)
Senior Notes \| American Tower Corporation \| 0.500% Notes
Debt Instrument [Line Items]
Debt interest rate (as a percent)	0.50%
Aggregate Principal Amount	$ 776.5
Adjustments to principal amount	$ (3.9)					(5.1)
Senior Notes \| American Tower Corporation \| 1.500% Notes
Debt Instrument [Line Items]
Debt interest rate (as a percent)	1.50%
Aggregate Principal Amount	$ 650.0
Adjustments to principal amount	$ (2.2)					(2.9)
Senior Notes \| American Tower Corporation \| 5.500% Notes
Debt Instrument [Line Items]
Debt interest rate (as a percent)	5.50%
Aggregate Principal Amount	$ 700.0
Adjustments to principal amount	$ (5.0)					(6.4)
Senior Notes \| American Tower Corporation \| 5.900% Notes
Debt Instrument [Line Items]
Debt interest rate (as a percent)	5.25%
Aggregate Principal Amount	$ 650.0
Adjustments to principal amount	$ (4.8)					(6.1)
Senior Notes \| American Tower Corporation \| 5.800% Notes
Debt Instrument [Line Items]
Debt interest rate (as a percent)	5.80%
Aggregate Principal Amount	$ 750.0
Adjustments to principal amount	$ (5.4)					(6.6)
Senior Notes \| American Tower Corporation \| 5.200% Notes
Debt Instrument [Line Items]
Debt interest rate (as a percent)	5.20%				5.20%
Aggregate Principal Amount	$ 650.0				$ 650.0
Adjustments to principal amount	$ (6.3)					0.0
Senior Notes \| American Tower Corporation \| 3.950% Notes
Debt Instrument [Line Items]
Debt interest rate (as a percent)	3.95%
Aggregate Principal Amount	$ 600.0
Adjustments to principal amount	$ (5.2)					(6.3)
Senior Notes \| American Tower Corporation \| 0.875% Notes
Debt Instrument [Line Items]
Debt interest rate (as a percent)	0.875%
Aggregate Principal Amount	$ 776.5
Adjustments to principal amount	$ (3.5)					(4.2)
Senior Notes \| American Tower Corporation \| 3.800% Notes
Debt Instrument [Line Items]
Debt interest rate (as a percent)	3.80%
Aggregate Principal Amount	$ 1,650.0
Adjustments to principal amount	$ (9.5)					(11.4)
Senior Notes \| American Tower Corporation \| 2.900% Notes
Debt Instrument [Line Items]
Debt interest rate (as a percent)	2.90%
Aggregate Principal Amount	$ 750.0
Adjustments to principal amount	$ (4.9)					(5.8)
Senior Notes \| American Tower Corporation \| 5.000% Notes
Debt Instrument [Line Items]
Debt interest rate (as a percent)	5.00%
Aggregate Principal Amount	$ 600.0
Adjustments to principal amount	$ (6.8)					0.0
Senior Notes \| American Tower Corporation \| 3.900% Notes
Debt Instrument [Line Items]
Debt interest rate (as a percent)	3.90%	3.90%
Aggregate Principal Amount	$ 517.7		$ 540.1	€ 500.0
Adjustments to principal amount	$ (4.8)					0.0
Senior Notes \| American Tower Corporation \| 2.100% Notes
Debt Instrument [Line Items]
Debt interest rate (as a percent)	2.10%
Aggregate Principal Amount	$ 750.0
Adjustments to principal amount	$ (5.9)					(6.9)
Senior Notes \| American Tower Corporation \| 0.950% Notes
Debt Instrument [Line Items]
Debt interest rate (as a percent)	0.95%
Aggregate Principal Amount	$ 517.7
Adjustments to principal amount	$ (5.1)					(5.9)
Senior Notes \| American Tower Corporation \| 1.875% Notes
Debt Instrument [Line Items]
Debt interest rate (as a percent)	1.875%
Aggregate Principal Amount	$ 800.0
Adjustments to principal amount	$ (5.7)					(6.7)
Senior Notes \| American Tower Corporation \| 2.700% Notes
Debt Instrument [Line Items]
Debt interest rate (as a percent)	2.70%
Aggregate Principal Amount	$ 700.0
Adjustments to principal amount	$ (4.4)					(5.0)
Senior Notes \| American Tower Corporation \| 4.625% Notes
Debt Instrument [Line Items]
Debt interest rate (as a percent)	4.625%
Aggregate Principal Amount	$ 517.7
Adjustments to principal amount	$ (6.0)					(6.7)
Senior Notes \| American Tower Corporation \| 2.300% Notes
Debt Instrument [Line Items]
Debt interest rate (as a percent)	2.30%
Aggregate Principal Amount	$ 700.0
Adjustments to principal amount	$ (6.4)					(7.3)
Senior Notes \| American Tower Corporation \| 1.000% Notes
Debt Instrument [Line Items]
Debt interest rate (as a percent)	1.00%
Aggregate Principal Amount	$ 672.9
Adjustments to principal amount	$ (5.3)					(6.0)
Senior Notes \| American Tower Corporation \| 4.050% Notes
Debt Instrument [Line Items]
Debt interest rate (as a percent)	4.05%
Aggregate Principal Amount	$ 650.0
Adjustments to principal amount	$ (6.3)					(7.1)
Senior Notes \| American Tower Corporation \| 5.650% Notes
Debt Instrument [Line Items]
Debt interest rate (as a percent)	5.65%
Aggregate Principal Amount	$ 800.0
Adjustments to principal amount	$ (8.6)					(9.4)
Senior Notes \| American Tower Corporation \| 1.250% Notes
Debt Instrument [Line Items]
Debt interest rate (as a percent)	1.25%
Aggregate Principal Amount	$ 517.7
Adjustments to principal amount	$ (5.6)					(6.1)
Senior Notes \| American Tower Corporation \| 5.550% Notes
Debt Instrument [Line Items]
Debt interest rate (as a percent)	5.55%
Aggregate Principal Amount	$ 850.0
Adjustments to principal amount	$ (8.6)					(9.4)
Senior Notes \| American Tower Corporation \| 5.900% Notes
Debt Instrument [Line Items]
Debt interest rate (as a percent)	5.90%
Aggregate Principal Amount	$ 750.0
Adjustments to principal amount	$ (7.8)					(8.5)
Senior Notes \| American Tower Corporation \| 5.450% Notes
Debt Instrument [Line Items]
Debt interest rate (as a percent)	5.45%
Aggregate Principal Amount	$ 650.0
Adjustments to principal amount	$ (9.4)					0.0
Senior Notes \| American Tower Corporation \| 4.100% Senior Notes
Debt Instrument [Line Items]
Debt interest rate (as a percent)	4.10%		4.10%	4.10%
Aggregate Principal Amount	$ 517.7		$ 540.1	€ 500.0
Adjustments to principal amount	$ (7.2)					0.0
Senior Notes \| American Tower Corporation \| 5.400% Notes
Debt Instrument [Line Items]
Debt interest rate (as a percent)	5.40%	5.40%
Aggregate Principal Amount	$ 600.0	$ 600.0
Adjustments to principal amount	$ (8.1)					0.0
Senior Notes \| American Tower Corporation \| 3.700% Notes
Debt Instrument [Line Items]
Debt interest rate (as a percent)	3.70%
Aggregate Principal Amount	$ 600.0
Adjustments to principal amount	$ (7.4)					(7.6)
Senior Notes \| American Tower Corporation \| 3.100% Notes
Debt Instrument [Line Items]
Debt interest rate (as a percent)	3.10%								3.10%	3.10%
Aggregate Principal Amount	$ 1,050.0
Adjustments to principal amount	$ (11.2)					(11.4)
Senior Notes \| American Tower Corporation \| 2.950% Notes
Debt Instrument [Line Items]
Debt interest rate (as a percent)	2.95%						2.95%	2.95%
Aggregate Principal Amount	$ 1,050.0
Adjustments to principal amount	$ (26.2)					$ (26.8)

NONCONTROLLING INTERESTS

12 Months Ended

Dec. 31, 2024

Noncontrolling Interest [Abstract]

NONCONTROLLING INTERESTS

European Interests—In 2021, PGGM converted its previously held noncontrolling interest in a subsidiary that primarily consisted of the Company’s operations in France, Germany and Poland into noncontrolling interests in subsidiaries, consisting of the Company's operations in Germany and Spain. In 2021, Caisse de dépôt et placement du Québec (“CDPQ”) and Allianz insurance companies and funds managed by Allianz Capital Partners GmbH, including the Allianz European Infrastructure Fund (collectively, “Allianz”) acquired 30% and 18% noncontrolling interests, respectively, in ATC Europe for total aggregate consideration of 2.6 billion EUR (approximately $3.1 billion at the date of closing).

As of December 31, 2024, ATC Europe consists of the Company’s operations in France, Germany and Spain. The Company currently holds a 52% controlling interest in ATC Europe, with CDPQ and Allianz holding 30% and 18% noncontrolling interests, respectively. ATC Europe holds a 100% interest in the subsidiaries that consist of the Company’s operations in France and an 87% and an 83% controlling interest in the subsidiaries that consist of the Company’s operations in Germany and Spain, respectively, with PGGM holding a 13% and a 17% noncontrolling interest in each respective subsidiary.

Bangladesh Partnership—In August 2021, the Company acquired a 51% controlling interest in Kirtonkhola Tower Bangladesh Limited (“KTBL”) for 900 million BDT (approximately $10.6 million at the date of closing). Confidence Group holds a 49% noncontrolling interest in KTBL.

Stonepeak Transaction—In 2022, the Company entered into agreements pursuant to which certain investment vehicles affiliated with Stonepeak Partners LP (such investment vehicles, collectively, “Stonepeak”) acquired a noncontrolling ownership interest in the Company’s U.S. data center business for total aggregate consideration of $3.1 billion, through an investment in common equity and mandatorily convertible preferred equity (the “Stonepeak Transaction”).

As of December 31, 2024, the Company holds a common equity interest of approximately 72% in its U.S. data center business, with Stonepeak holding approximately 28% of the outstanding common equity and 100% of the outstanding mandatorily convertible preferred equity. On a fully converted basis, which is expected to occur four years from August 2022, and on the basis of the currently outstanding equity, the Company will hold a controlling ownership interest of approximately 64%, with Stonepeak holding approximately 36%. The mandatorily convertible preferred equity, which accrues dividends at 5.0%, will convert into common equity on a one for one basis, subject to adjustment that will be measured upon conversion.

Dividends to noncontrolling interests—Certain of the Company’s subsidiaries may, from time to time, declare dividends.

During the year ended December 31, 2024, the Company’s U.S. data center business declared distributions of $46.2 million related to the outstanding Stonepeak mandatorily convertible preferred equity (the “Stonepeak Preferred Distributions”). As of December 31, 2024, the amount accrued for Stonepeak Preferred Distributions was $11.6 million.

Beginning in January 2024, pursuant to the terms of the ownership agreement with Stonepeak, on a quarterly basis, the Company’s U.S. data center business will distribute common dividends to the Company and to Stonepeak in proportion to their respective equity interests in the Company’s U.S. data center business (the “Stonepeak Common Dividend”). During the year ended December 31, 2024, the Company’s U.S. data center business made distributions of $91.7 million related to the Stonepeak Common Dividend for the period from the initial closing of the Stonepeak Transaction in August 2022 through December 31, 2023, which was accrued for as of December 31, 2023. The $91.7 million distribution during the year ended December 31, 2024 included a noncash distribution of $37.5 million made in lieu of a common equity contribution from Stonepeak. Additionally, during the year ended December 31, 2024, the Company’s U.S. data center business declared and paid distributions of $47.4 million, related to the Stonepeak Common Dividend.

During the year ended December 31, 2024 , pursuant to the terms of the ownership agreements, ATC Europe C.V., one of the Company’s subsidiaries in the Netherlands, declared and paid aggregate dividends of 422.5 million EUR (approximately $465.1 million at the dates of payment), pursuant to the terms of the ownership agreements, to the Company, CDPQ and Allianz in proportion to their respective equity interests in ATC Europe C.V.

During the year ended December 31, 2024, pursuant to the terms of the ownership agreements, AT Rhine C.V., one of the Company’s subsidiaries in Germany, declared and paid aggregate dividends of 105.0 million EUR (approximately $115.6 million at the dates of payment), pursuant to the terms of the ownership agreements, to ATC Europe and PGGM in proportion to their respective equity interests in AT Rhine C.V.

During the year ended December 31, 2024, pursuant to the terms of the ownership agreements, AT Iberia C.V., one of the Company’s subsidiaries in Spain, declared and paid aggregate dividends of 92.4 million EUR (approximately $98.9 million at the dates of payment), pursuant to the terms of the ownership agreements, to ATC Europe and PGGM in proportion to their respective equity interests in AT Iberia C.V.

The changes in noncontrolling interests were as follows:


	Year Ended December 31,
	2024		2023
Balance as of January 1,	$	6,667.2	$	6,836.1





Net income (loss) attributable to noncontrolling interests	25.2		(116.2)
Foreign currency translation adjustment attributable to noncontrolling interests, net of tax	(234.1)		81.4
Contributions from noncontrolling interest holders (1)	154.6		12.7
Distributions to noncontrolling interest holders	(346.4)		(146.8)
Balance as of December 31,	$	6,266.5	$	6,667.2

_______________

FAIR VALUE MEASUREMENTS - Narrative (Details) ₨ / shares in Units, shares in Millions, ₨ in Billions						3 Months Ended	12 Months Ended
	Jun. 05, 2024 USD ($)	Jun. 05, 2024 INR (₨)	Apr. 29, 2024 USD ($) shares	Apr. 29, 2024 INR (₨) ₨ / shares shares	Mar. 23, 2024 USD ($) shares	Sep. 30, 2023 USD ($)	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Jun. 05, 2024 INR (₨)	Mar. 23, 2024 INR (₨)	Feb. 28, 2023 USD ($)	Feb. 28, 2023 INR (₨)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Assets held and used, original carrying value							$ 32,300,000,000	$ 35,200,000,000
Long-lived asset held and used, written down (less than in 2024)							100,000,000	200,000,000
Long-lived asset held and used, net realizable value (less than in 2023)							100,000,000	100,000,000
Impairment of long-lived assets held for use							68,600,000	202,400,000
Goodwill impairment							0	80,000,000.0	$ 0
Long-term debt obligations, including the current portion							36,501,800,000	38,801,300,000
Long-term debt obligations, including the current portion and discontinued operations								$ 38,900,000,000
Impairment, Long-Lived Asset, Held-for-Use, Statement of Income or Comprehensive Income [Extensible Enumeration]								Other Operating Income (Expense), Net
Estimate of Fair Value Measurement
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Long-term debt, fair value							34,600,000,000	$ 36,700,000,000
Fair Value, Inputs, Level 1 \| Estimate of Fair Value Measurement
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Long-term debt, fair value							31,300,000,000	30,000,000,000.0
Fair Value, Inputs, Level 2 \| Estimate of Fair Value Measurement
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Long-term debt, fair value							3,300,000,000	6,700,000,000
Spain
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Goodwill impairment								80,000,000
Discontinued Operations, Disposed of by Sale \| ATC TIPL
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Goodwill impairment included in discontinued operations						$ 322,000,000	0	$ 322,000,000	$ 0
Vodafone Idea Limited
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Number of converted shares \| shares					1,440
Equity shares sold (in shares) \| shares			1,440	1,440
Price per share (in INR per share) \| ₨ / shares				₨ 12.78
Net proceeds			$ 216,000,000	₨ 18.0
Equity securities							0
Vodafone Idea Limited \| Discontinued Operations, Disposed of by Sale \| ATC TIPL
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Gain on sales of investments included in discontinued operations							46,400,000
Convertible Debt Securities \| Vodafone Idea Limited
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Debt securities	$ 19,200,000				$ 172,700,000		$ 0			₨ 1.6	₨ 14.4
Not proceeds from sale of debt securities	$ 22,000,000	₨ 1.8
Convertible Debt Securities \| Vodafone Idea Limited
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
VIL OCDs, face value												$ 193,200,000	₨ 16.0
Debt securities												$ 116,500,000
Debt securities, interest rate (as a percent)												11.20%	11.20%
Convertible Debt Securities \| Vodafone Idea Limited \| Maturing on August 27, 2023
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
VIL OCDs, face value												$ 96,600,000	₨ 8.0
Convertible Debt Securities \| Vodafone Idea Limited \| Maturing on August 27, 2024
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
VIL OCDs, face value												$ 96,600,000	₨ 8.0

OTHER OPERATING EXPENSE - Unpaid Obligations for Severance and Related Costs (Details) - Severance and Related Costs $ in Millions	12 Months Ended
	Dec. 31, 2023 USD ($)
Restructuring Reserve [Roll Forward]
Beginning balance as of January 1,	$ 0.0
Additions	21.8
Payments	(19.9)
Balance as of December 31,	$ 1.9

BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Stonepeak Development Partnership (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Contribution to equity method investment	$ 14.6	$ 0.0	$ 0.0
Stonepeak Development Partnership
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Contribution to equity method investment	$ 14.6

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

GOODWILL AND OTHER INTANGIBLE ASSETS - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Acquired Finite-Lived Intangible Assets [Line Items]
Goodwill impairment	$ 0.0	$ 80.0	$ 0.0
Amortization of intangible assets	$ 892.0	1,400.0	$ 1,600.0
Weighted Average
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets, remaining amortization period	20 years
Spain
Acquired Finite-Lived Intangible Assets [Line Items]
Goodwill impairment		$ 80.0

BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Adoption of Highly Inflationary Accounting in Ghana (Details)	12 Months Ended
	Dec. 31, 2024	Sep. 30, 2024	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Foreign currency exchange rate, remeasurement		1,669	11.95
Geographic Concentration Risk \| Asset \| Ghana
Concentration Risk [Line Items]
Concentration risk, percentage	1.00%
Geographic Concentration Risk \| Asset \| Nigeria
Concentration Risk [Line Items]
Concentration risk, percentage	1.00%
Geographic Concentration Risk \| Revenue \| Ghana
Concentration Risk [Line Items]
Concentration risk, percentage	1.00%
Geographic Concentration Risk \| Revenue \| Nigeria
Concentration Risk [Line Items]
Concentration risk, percentage	4.00%

OTHER OPERATING EXPENSE

12 Months Ended

Dec. 31, 2024

Other Income and Expenses [Abstract]

OTHER OPERATING EXPENSE

Other operating expense consists primarily of impairment charges, net losses on sales or disposals of assets and other operating expense items. The Company records impairment charges to write down certain assets to their net realizable value after an indicator of impairment is identified and subsequent analysis determines that the asset is either partially recoverable or not recoverable. These assets consist primarily of those related to the Company’s tower locations, and included towers and related

assets included in property and equipment, network location intangible assets and right-of-use assets, all of which are typically assessed on an individual location or site basis. The assets subject to impairment also include tenant-related intangibles, which are assessed on a tenant basis. Net losses on sales or disposals of assets primarily relate to certain non-core towers, other assets and miscellaneous items. Other operating expenses includes acquisition- and disposition-related costs and integration costs.

Other operating expenses included the following for the years ended December 31,:


	2024		2023		2022
Impairment charges	$	68.6	$	200.0	$	147.3
Net losses on sales or disposals of assets (1)	17.9		131.3		36.8
Other operating (income) expense (2)	(12.4)		39.4		86.5
Total Other operating expenses	$	74.1	$	370.7	$	270.6

_______________

(1) For the year ended December 31, 2024, includes a gain on the sales of ATC Australia and ATC New Zealand of $8.5 million. For the year ended December 31, 2023, includes a net loss of $78.9 million on the sales of Mexico Fiber and ATC Poland.

(2) During the years ended December 31, 2024, 2023 and 2022, the Company recorded net benefits of $23.4 million, $10.3 million and $11.9 million related to pre-acquisition contingencies and settlements, respectively. For the year ended December 31, 2023, includes severance and related costs as discussed below.

Impairment charges included the following for the years ended December 31,:


	2024		2023		2022

Tower and network location intangible assets	$	46.3	$	93.7	$	52.6
Tenant relationships (1)	13.5		90.2		79.5

Other (2)	8.8		16.1		15.2
Total impairment charges included in Other operating expense	$	68.6	$	200.0	$	147.3
Goodwill impairment (3)	$	—	$	80.0	$	—
Total impairment charges	$	68.6	$	280.0	$	147.3

_______________

(1) During the year ended December 31, 2023, impairment charges related to impaired tenant relationships in Africa. During the year ended December 31, 2022, impairment charges primarily related to impaired tenant relationships related to fiber in Mexico.

(2) Includes impairment charges related to right-of-use assets.

(3) During the year ended December 31, 2023, includes goodwill impairment associated with the Spain reporting unit (as discussed in note 5).

Severance

During the year ended December 31, 2023, the Company approved a plan for restructuring its workforce, which was communicated to its employees. As a result of these actions, severance and related costs of $21.8 million were recorded in Other operating expense in the accompanying consolidated statements of operations for the year ended December 31, 2023.

Additional information relating to the severance and related costs by operating segments is as follows for the year ended December 31,:


	2023
U.S. & Canada property	$	2.4

Africa property	0.7
Europe property	2.8
Latin America property	4.7

Services	3.4
Other (1)	7.8
Total severance and related costs	$	21.8

_______________

(1)Includes corporate expenses.

Unpaid obligations for severance and related costs as of December 31, 2023, were included in Payroll and related withholdings within Accrued expenses in the consolidated balance sheet as of December 31, 2023. There are no amounts outstanding related to the 2023 restructuring plan as of December 31, 2024.

The changes in the unpaid obligations for severance and related costs for the year ended December 31, 2023 were as follows:


	2023
Beginning balance as of January 1,	$	—
Additions	21.8

Payments	(19.9)
Balance as of December 31,	$	1.9

PROPERTY AND EQUIPMENT (Tables)

12 Months Ended

Dec. 31, 2024

Property, Plant and Equipment [Abstract]

Schedule of Property and Equipment

Property and equipment (including assets held under finance leases) consisted of the following:


	Estimated Useful Lives (years)	As of
		December 31, 2024		December 31, 2023
Towers (1)	Up to 30	$	15,745.0	$	15,499.9
Equipment (2)	3 - 20	4,921.8		4,480.5
Buildings and improvements	Up to 40	3,786.3		3,775.1
Land and improvements (3)	Up to 30	4,311.0		4,265.4
Construction-in-progress		1,298.4		1,355.4
Total		30,062.5		29,376.3
Less accumulated depreciation		(11,005.7)		(10,513.1)
Property and equipment, net		$	19,056.8	$	18,863.2

_______________

(2) Includes fiber, DAS and data center related assets.

(3) Estimated useful lives apply to improvements only.

Schedule of Finance Lease Assets Included in Property Plant and Equipment

Information about finance lease-related balances is as follows:


		As of December 31,
Finance leases:	Classification	2024		2023
Property and equipment	Towers	$	2,786.9	$	2,776.8
Accumulated depreciation		(1,638.7)		(1,581.3)
Property and equipment, net		$	1,148.2	$	1,195.5

Property and equipment	Buildings and improvements	$	185.1	$	192.6
Accumulated depreciation		(106.5)		(102.9)
Property and equipment, net		$	78.6	$	89.7

Property and equipment	Land	$	130.6	$	131.9
Accumulated depreciation		(0.2)		(0.1)
Property and equipment, net		$	130.4	$	131.8

Property and equipment	Equipment	$	35.0	$	41.6
Accumulated depreciation		(11.4)		(13.3)
Property and equipment, net		$	23.6	$	28.3

PREPAID AND OTHER CURRENT ASSETS (Tables)

12 Months Ended

Dec. 31, 2024

Prepaid Expense and Other Assets, Current [Abstract]

Schedule of Prepaid and Other Current Assets

Prepaid and other current assets consisted of the following:


	As of
	December 31, 2024		December 31, 2023
Prepaid assets	$	82.6	$	90.7
Prepaid income tax	77.2		62.7
Unbilled receivables	189.3		185.9
Value added tax and other consumption tax receivables	55.5		79.8
Other miscellaneous current assets	126.0		140.4
Prepaid and other current assets	$	530.6	$	559.5

Audit Information	12 Months Ended
Audit Information	Dec. 31, 2024
Auditor Information [Abstract]
Auditor Firm ID	34
Auditor Name	Deloitte & Touche LLP
Auditor Location	Boston, Massachusetts

OTHER OPERATING EXPENSE (Tables)

12 Months Ended

Dec. 31, 2024

Other Income and Expenses [Abstract]

Schedule of Other Operating Expenses

Other operating expenses included the following for the years ended December 31,:


	2024		2023		2022
Impairment charges	$	68.6	$	200.0	$	147.3
Net losses on sales or disposals of assets (1)	17.9		131.3		36.8
Other operating (income) expense (2)	(12.4)		39.4		86.5
Total Other operating expenses	$	74.1	$	370.7	$	270.6

_______________

Schedule of Impairment Charges

Impairment charges included the following for the years ended December 31,:


	2024		2023		2022

Tower and network location intangible assets	$	46.3	$	93.7	$	52.6
Tenant relationships (1)	13.5		90.2		79.5

Other (2)	8.8		16.1		15.2
Total impairment charges included in Other operating expense	$	68.6	$	200.0	$	147.3
Goodwill impairment (3)	$	—	$	80.0	$	—
Total impairment charges	$	68.6	$	280.0	$	147.3

_______________

(2) Includes impairment charges related to right-of-use assets.

(3) During the year ended December 31, 2023, includes goodwill impairment associated with the Spain reporting unit (as discussed in note 5).

Schedule of Severance and Related Costs

Additional information relating to the severance and related costs by operating segments is as follows for the year ended December 31,:


	2023
U.S. & Canada property	$	2.4

Africa property	0.7
Europe property	2.8
Latin America property	4.7

Services	3.4
Other (1)	7.8
Total severance and related costs	$	21.8

_______________

(1)Includes corporate expenses

Schedule of Restructuring Reserve by Type of Cost

The changes in the unpaid obligations for severance and related costs for the year ended December 31, 2023 were as follows:


	2023
Beginning balance as of January 1,	$	—
Additions	21.8

Payments	(19.9)
Balance as of December 31,	$	1.9

LEASES - Maturities Of Operating And Finance Leases (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Operating Lease
2025	$ 986.9
2026	924.9
2027	886.1
2028	843.4
2029	801.7
Thereafter	7,088.1
Total lease payments	11,531.1
Less amounts representing interest	(4,078.8)
Total operating lease liability	7,452.3	$ 7,505.7
Less current portion of lease liability	576.7	690.4
Non-current lease liability	6,875.6	6,815.3
Finance Lease
2025	4.2
2026	2.6
2027	2.1
2028	1.6
2029	1.2
Thereafter	19.5
Total lease payments	31.2
Less amounts representing interest	(14.6)
Total lease liability	16.6	20.6
Less current portion of lease liability	2.6	3.4
Non-current lease liability	$ 14.0	$ 17.2

LONG-TERM OBLIGATIONS - Senior Notes (Details) € in Millions								12 Months Ended
	Nov. 21, 2024 USD ($)	May 29, 2024 USD ($)	May 29, 2024 EUR (€)	May 15, 2024 USD ($)	Mar. 07, 2024 USD ($)	Feb. 14, 2024 USD ($)	Jan. 12, 2024 USD ($)	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	May 29, 2024 EUR (€)
Debt Instrument [Line Items]
Proceeds from issuance of senior notes								$ 3,568,600,000	$ 5,678,300,000	$ 1,293,600,000
Redemption price percentage								101.00%
Maximum adjusted EBITDA								3.5
Senior Notes
Debt Instrument [Line Items]
Redemption price percentage								100.00%
American Tower Corporation
Debt Instrument [Line Items]
Debt outstanding								$ 34,174,900,000	36,472,000,000
American Tower Corporation \| 0.600% senior notes \| Senior Notes
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage							0.60%	0.60%
Aggregate principal amount							$ 500,000,000
Debt outstanding								$ 0	500,000,000.0
American Tower Corporation \| 5.00% senior notes \| Senior Notes
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage						5.00%		5.00%
Aggregate principal amount						$ 1,000,000,000
Debt outstanding								$ 0	1,000,100,000
Debt instrument, face amount								$ 0
American Tower Corporation \| 3.375% senior notes \| Senior Notes
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage				3.375%				3.375%
Aggregate principal amount				$ 650,000,000
Debt outstanding								$ 0	649,700,000
Debt instrument, face amount				$ 0
American Tower Corporation \| 5.200% senior notes and 5.450% senior notes \| Senior Notes
Debt Instrument [Line Items]
Proceeds from issuance of senior notes					$ 1,281,300,000
American Tower Corporation \| 5.200% senior notes \| Senior Notes
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage					5.20%			5.20%
Debt outstanding								$ 643,700,000	0
Debt instrument, face amount					$ 650,000,000			$ 650,000,000.0
American Tower Corporation \| 5.450% senior notes \| Senior Notes
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	5.45%							5.45%
Debt outstanding								$ 640,600,000	0
Debt instrument, face amount					$ 650,000,000
American Tower Corporation \| 3.900% senior notes and 4.100% senior notes \| Senior Notes
Debt Instrument [Line Items]
Proceeds from issuance of senior notes		$ 1,067,500,000	€ 988.4
American Tower Corporation \| 3.900% senior notes \| Senior Notes
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	3.90%							3.90%
Debt outstanding								$ 512,900,000	0
Debt instrument, face amount		$ 540,100,000						$ 517,700,000			€ 500.0
American Tower Corporation \| 4.100% Senior Notes \| Senior Notes
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage		4.10%						4.10%			4.10%
Debt outstanding								$ 510,500,000	0
Debt instrument, face amount		$ 540,100,000						$ 517,700,000			€ 500.0
American Tower Corporation \| 5.000% Senior Notes Due 2029 And 5.400% Senior Notes Due 2034 \| Senior Notes
Debt Instrument [Line Items]
Proceeds from issuance of senior notes	$ 1,183,700,000
American Tower Corporation \| 5.000% senior notes \| Senior Notes
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	5.00%							5.00%
Debt outstanding								$ 593,200,000	$ 0
Debt instrument, face amount	$ 600,000,000
American Tower Corporation \| 5.400% Notes \| Senior Notes
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	5.40%							5.40%
Debt instrument, face amount	$ 600,000,000							$ 600,000,000.0

LONG-TERM OBLIGATIONS - Maturities of Long Term Debt (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Debt Disclosure [Abstract]
2025	$ 3,693.0
2026	3,319.3
2027	5,466.7
2028	6,027.4
2029	3,677.0
Thereafter	14,572.9
Total cash obligations	36,756.3
Unamortized discounts, premiums and debt issuance costs, net	(254.5)
Total	$ 36,501.8	$ 38,801.3

BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Revenue Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Property straight-line revenues	$ 277.6	$ 465.4	$ 508.5
Revenue recognized that was previously included in contract liabilities	$ 116.8

Schedule III - SCHEDULE OF REAL ESTATE AND ACCUMULATED DEPRECIATION - Activity of Real Estate and Accumulated Depreciation (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Gross amount at beginning	$ 28,239.2	$ 27,060.9	$ 23,948.9
Additions during period:
Acquisitions	91.8	105.2	288.1
Discretionary capital projects	846.6	860.2	398.0
Discretionary ground lease purchases	130.5	126.0	502.0
Redevelopment capital expenditures	335.8	451.5	335.9
Capital improvements	154.4	192.7	155.4
Start-up capital expenditures	79.6	136.7	227.0
Other	416.7	(11.6)	1,672.6
Total additions	2,055.4	1,860.7	3,579.0
Deductions during period:
Cost of real estate sold or disposed	(252.4)	(202.8)	(257.6)
Other	(2,459.7)	(479.6)	(209.4)
Total deductions	(2,712.1)	(682.4)	(467.0)
Balance at end	27,582.5	28,239.2	27,060.9
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Gross amount of accumulated depreciation at beginning	(9,820.6)	(8,669.5)	(7,548.1)
Additions during period:
Depreciation	(1,002.3)	(1,353.5)	(1,373.3)
Other	0.0	0.0	0.0
Total additions	(1,002.3)	(1,353.5)	(1,373.3)
Deductions during period:
Amount of accumulated depreciation for assets sold or disposed	166.0	89.0	128.9
Other	973.3	113.4	123.0
Total deductions	1,139.3	202.4	251.9
Balance at end	(9,683.6)	(9,820.6)	(8,669.5)
Discontinued Operations, Disposed of by Sale
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate [Roll Forward]
Gross amount at beginning	1,516.6	1,435.5
Deductions during period:
Balance at end	0.0	1,516.6	1,435.5
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Accumulated Depreciation [Roll Forward]
Gross amount of accumulated depreciation at beginning	(598.7)	(528.1)
Deductions during period:
Balance at end	0.0	$ (598.7)	(528.1)
Data Centers
Additions during period:
Acquisitions			$ 1,600.0
Deductions during period:
Balance at end	6,861.4
Deductions during period:
Balance at end	$ (1,189.3)

EARNINGS PER COMMON SHARE

12 Months Ended

Dec. 31, 2024

Earnings Per Share [Abstract]

EARNINGS PER COMMON SHARE

The following table sets forth basic and diluted net income per common share computational data for the years ended December 31, (shares in thousands, except per share data):


	2024		2023		2022
Net income from continuing operations attributable to American Tower common stockholders	$	3,233.3	$	1,554.7	$	2,042.3
Net loss from discontinued operations attributable to American Tower common stockholders	(978.3)		(71.4)		(276.5)
Net income attributable to American Tower Corporation common stockholders	$	2,255.0	$	1,483.3	$	1,765.8
Basic weighted average common shares outstanding	467,011		466,063		461,519
Dilutive securities	1,109		1,099		1,231
Diluted weighted average common shares outstanding	468,120		467,162		462,750
Basic net income from continuing operations attributable to American Tower Corporation common stockholders	$	6.92	$	3.34	$	4.43
Basic net loss from discontinued operations attributable to American Tower Corporation common stockholders per common share	(2.09)		(0.15)		(0.60)
Basic net income attributable to American Tower Corporation common stockholders per common share	4.83		3.18		3.83
Diluted net income from continuing operations attributable to American Tower Corporation common stockholders	$	6.91	$	3.33	$	4.41
Diluted net loss from discontinued operations attributable to American Tower Corporation common stockholders	$	(2.09)	$	(0.15)	$	(0.60)
Diluted net income attributable to American Tower Corporation common stockholders per common share	4.82		3.18		3.82

Shares Excluded From Dilutive Effect


	2024	2023	2022
Restricted stock awards	2	5	86

GOODWILL AND OTHER INTANGIBLE ASSETS

12 Months Ended

Dec. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND OTHER INTANGIBLE ASSETS

The changes in the carrying value of goodwill for each of the Company’s business segments were as follows:


	Property								Services		Total
	U.S. & Canada		Africa & APAC (1)		Europe		Latin America						Data Centers
Balance as of December 31, 2022	$	4,637.5	$	556.1	$	3,044.0	$	915.5	$	2,920.0	$	2.0		$	12,075.1
Impairments (2)	—		—		(80.0)		—		—		—			(80.0)
Other (3)	—		—		—		(20.7)		—		—			(20.7)
Effect of foreign currency translation	1.1		(51.2)		87.9		71.3		—		—			109.1
Balance as of December 31, 2023	$	4,638.6	$	504.9	$	3,051.9	$	966.1	$	2,920.0	$	2.0		$	12,083.5



Effect of foreign currency translation	(3.9)		11.6		(189.6)		(133.5)		—		—			(315.4)
Balance as of December 31, 2024	$	4,634.7	$	516.5	$	2,862.3	$	832.6	$	2,920.0	$	2.0		$	11,768.1

_______________

(1) Excludes goodwill associated with the India reporting unit, which is reported as discontinued operations. See note 22 for further discussion.

(2) Includes $80.0 million of goodwill impairments associated with the Spain reporting unit.

(3) Other represents the goodwill associated with the sale of one of our subsidiaries in Mexico that held fiber assets (“Mexico Fiber”), which was sold during the year ended December 31, 2023.

Goodwill Impairments

For the year ended December 31, 2023, the results of the annual goodwill impairment test indicated that the carrying amount of the Company’s Spain reporting unit exceeded its estimated fair value, as calculated under an income approach using future discounted cash flows. As a result, the Company recorded a goodwill impairment charge of $80.0 million. The key assumptions utilized in the discounted cash flow analysis included current operating performance, terminal revenue growth rate, management’s expectations of future operating results and cash requirements, the current weighted average cost of capital and an expected tax rate. The reduction in the fair value of the Spain reporting unit was primarily due to an increase in the weighted average cost of capital. The goodwill impairment charge is recorded in Goodwill impairment in the consolidated statements of operations for the year ended December 31, 2023.

The Company’s other intangible assets subject to amortization consisted of the following:


		As of December 31, 2024						As of December 31, 2023
	Estimated Useful Lives (years) (1)	Gross Carrying Value		Accumulated Amortization		Net Book Value		Gross Carrying Value		Accumulated Amortization		Net Book Value
Acquired network location intangibles (2)	Up to 30	$	5,365.4	$	(2,659.8)	$	2,705.6	$	5,584.9	$	(2,622.8)	$	2,962.1
Acquired tenant-related intangibles	Up to 30	17,666.0		(6,823.7)		10,842.3		18,328.3		(6,477.1)		11,851.2
Acquired licenses and other intangibles	2-30	1,406.8		(480.4)		926.4		1,560.7		(441.7)		1,119.0
Total other intangible assets		$	24,438.2	$	(9,963.9)	$	14,474.3	$	25,473.9	$	(9,541.6)	$	15,932.3

_______________

(1) As of December 31, 2024, reflects the change in estimated useful lives as described in note 1.

The acquired network location intangibles represent the value to the Company of the incremental revenue growth that could potentially be obtained from leasing the excess capacity on acquired tower communications infrastructure. The acquired tenant-related intangibles typically represent the value to the Company of tenant contracts and relationships in place at the time of an

acquisition or similar transaction, including assumptions regarding estimated renewals. Other intangibles represent the value of acquired licenses, trade name and in place leases. In place lease value represents the fair value of costs avoided in securing data center customers, including vacancy periods, legal costs and commissions. In place lease value also includes assumptions on similar costs avoided upon the renewal or extension of existing leases on a basis consistent with occupancy assumptions used in the fair value of other assets.

The Company amortizes its acquired intangible assets on a straight-line basis over their estimated useful lives. As of December 31, 2024, the remaining weighted average amortization period of the Company’s intangible assets was 20 years. Amortization of intangible assets for the years ended December 31, 2024, 2023 and 2022 was $892.0 million, $1.4 billion and $1.6 billion, respectively.

Based on current exchange rates, the Company expects to record amortization expense as follows over the next five years:


Fiscal Year	Amount
2025	$	847.1
2026	812.6
2027	797.0
2028	788.0
2029	771.4

LEASES - Lease Costs (Details) - USD ($) $ in Millions	12 Months Ended
LEASES - Lease Costs (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Leases [Abstract]
Operating lease cost	$ 994.2	$ 1,084.1	$ 1,059.1
Variable lease costs not included in lease liability	$ 489.2	$ 434.5	$ 375.3

OTHER OPERATING EXPENSE - Impairment Charges (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Schedule of intangible asset impairment [Line Items]
Other	$ 8.8	$ 16.1	$ 15.2
Total impairment charges included in Other operating expense	68.6	200.0	147.3
Goodwill impairment	0.0	80.0	0.0
Total impairment charges	68.6	280.0	147.3
Tower and network location intangible assets
Schedule of intangible asset impairment [Line Items]
Impairment of intangible assets	46.3	93.7	52.6
Tenant relationships
Schedule of intangible asset impairment [Line Items]
Impairment of intangible assets	$ 13.5	$ 90.2	$ 79.5

EARNINGS PER COMMON SHARE - Schedule Of Earnings Per Basic And Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2024	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Earnings Per Share [Abstract]
Net income from continuing operations attributable to American Tower common stockholders, basic	$ 1,229.6	$ 416.2	$ 761.8	$ 825.7	$ 10.4	$ 784.4	$ 435.3	$ 324.6	$ 3,233.3	$ 1,554.7	$ 2,042.3
Net income from continuing operations attributable to American Tower common stockholders, diluted	1,229.6	416.2	761.8	825.7	10.4	784.4	435.3	324.6	3,233.3	1,554.7	2,042.3
NET LOSS FROM DISCONTINUED OPERATIONS ATTRIBUTABLE TO AMERICAN TOWER CORPORATION COMMON STOCKHOLDERS, BASIC	0.0	(1,208.5)	138.5	91.7	74.5	(197.5)	40.4	11.2	(978.3)	(71.4)	(276.5)
Net income (loss) from discontinued operations attributable to American Tower common stockholders, diluted	0.0	(1,208.5)	138.5	91.7	74.5	(197.5)	40.4	11.2	(978.3)	(71.4)	(276.5)
Net income attributable to American Tower Corporation common stockholders	1,229.6	(792.3)	900.3	917.4	84.9	586.9	475.7	335.8	2,255.0	1,483.3	1,765.8
Net (loss) income attributable to American Tower Corporation common stockholders, diluted	$ 1,229.6	$ (792.3)	$ 900.3	$ 917.4	$ 84.9	$ 586.9	$ 475.7	$ 335.8	$ 2,255.0	$ 1,483.3	$ 1,765.8
Basic weighted average common shares outstanding (in shares)									467,011	466,063	461,519
Dilutive securities (in shares)									1,109	1,099	1,231
Diluted weighted average common shares outstanding (in shares)									468,120	467,162	462,750
Basic net income from continuing operations attributable to American Tower Corporation common stockholders (in dollars per share)	$ 2.63	$ 0.89	$ 1.63	$ 1.77	$ 0.02	$ 1.68	$ 0.93	$ 0.70	$ 6.92	$ 3.34	$ 4.43
Basic net income (loss) from discontinued operations attributable to American Tower Corporation common stockholders per common share (in dollars per share)	0	(2.59)	0.30	0.20	0.16	(0.42)	0.09	0.02	(2.09)	(0.15)	(0.60)
Basic net income attributable to American Tower Corporation common stockholders per common share (in dollars per share)	2.63	(1.70)	1.93	1.97	0.18	1.26	1.02	0.72	4.83	3.18	3.83
Diluted net income from continuing operations attributable to American Tower Corporation common stockholders (in dollars per share)	2.62	0.89	1.63	1.77	0.02	1.68	0.93	0.70	6.91	3.33	4.41
Diluted net income (loss) from discontinued operations attributable to American Tower Corporation common stockholders (in dollars per share)	0	(2.58)	0.30	0.20	0.16	(0.42)	0.09	0.02	(2.09)	(0.15)	(0.60)
Diluted net income attributable to American Tower Corporation common stockholders (in dollars per share)	$ 2.62	$ (1.69)	$ 1.92	$ 1.96	$ 0.18	$ 1.26	$ 1.02	$ 0.72	$ 4.82	$ 3.18	$ 3.82

PROPERTY AND EQUIPMENT - Schedule of Finance Lease Assets Included in Property Plant and Equipment (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Towers
Property, Plant and Equipment [Line Items]
Property and equipment	$ 2,786.9	$ 2,776.8
Accumulated depreciation	(1,638.7)	(1,581.3)
Property and equipment, net	1,148.2	1,195.5
Buildings and improvements
Property, Plant and Equipment [Line Items]
Property and equipment	185.1	192.6
Accumulated depreciation	(106.5)	(102.9)
Property and equipment, net	78.6	89.7
Land
Property, Plant and Equipment [Line Items]
Property and equipment	130.6	131.9
Accumulated depreciation	(0.2)	(0.1)
Property and equipment, net	130.4	131.8
Equipment
Property, Plant and Equipment [Line Items]
Property and equipment	35.0	41.6
Accumulated depreciation	(11.4)	(13.3)
Property and equipment, net	$ 23.6	$ 28.3

BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

12 Months Ended

Dec. 31, 2024

Organization, Consolidation and Presentation of Financial Statements [Abstract]

BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Business—American Tower Corporation (together with its subsidiaries, “ATC” or the “Company”) is one of the largest global real estate investment trusts and a leading independent owner, operator and developer of multitenant communications real estate. The Company’s primary business is the leasing of space on communications sites to wireless service providers, radio and television broadcast companies, wireless data providers, government agencies and municipalities and tenants in a number of other industries. The Company refers to this business, inclusive of its data center business discussed below, as its property operations. Additionally, the Company offers tower-related services in the United States, which the Company refers to as its services operations. These services include site application, zoning and permitting (“AZP”), structural and mount analyses, and construction management, which primarily support the Company’s site leasing business, including the addition of new tenants and equipment on its sites. The Company’s customers include its tenants, licensees and other payers.

The Company’s portfolio primarily consists of towers that it owns and towers that it operates pursuant to long-term lease arrangements, as well as distributed antenna system (“DAS”) networks, which provide seamless coverage solutions in certain in-building and outdoor wireless environments. In addition to the communications sites in its portfolio, the Company manages rooftop and tower sites for property owners under various contractual arrangements. The Company also holds other telecommunications infrastructure, fiber and property interests that it leases primarily to communications service providers and third-party tower operators and holds a portfolio of highly interconnected data center facilities and related assets in the United States that the Company provides for the leasing of space primarily to enterprises, network operators, cloud providers and supporting service providers.

American Tower Corporation is a holding company that conducts its operations through its directly and indirectly owned subsidiaries and joint ventures. ATC’s principal domestic operating subsidiaries are American Towers LLC and SpectraSite Communications, LLC. ATC conducts its international operations primarily through its subsidiary, American Tower International, Inc., which in turn conducts operations through its various international holding and operating subsidiaries and joint ventures.

The Company operates as a real estate investment trust for U.S. federal income tax purposes (“REIT”). Accordingly, the Company generally is not required to pay U.S. federal income taxes on income generated by its REIT operations, including the income derived from leasing space on its towers and in its data centers, as it receives a dividends paid deduction for distributions to stockholders that offsets its REIT taxable income and gains. However, the Company remains obligated to pay U.S. federal income taxes on earnings from its domestic taxable REIT subsidiaries (“TRSs”). In addition, the Company’s international assets and operations, regardless of their classification for U.S. tax purposes, continue to be subject to taxation in the jurisdictions where those assets are held or those operations are conducted.

The use of TRSs enables the Company to continue to engage in certain businesses and jurisdictions while complying with REIT qualification requirements. The Company may, from time to time, change the election of previously designated TRSs to be included as part of the REIT. As of December 31, 2024, the Company’s REIT-qualified businesses included its U.S. tower leasing business, a majority of its U.S. DAS networks business, its Services and Data Centers segments, as well as most of its operations in Canada, Costa Rica, France, Germany, Ghana, Kenya, Mexico, Nigeria, South Africa, Spain and Uganda.

Principles of Consolidation and Basis of Presentation—The accompanying consolidated financial statements include the accounts of the Company and those entities in which it has a controlling interest. Investments in entities that the Company does not control are accounted for using the equity method or as investments in equity securities, depending upon the Company’s ability to exercise significant influence over operating and financial policies. All intercompany accounts and transactions have been eliminated.

As of December 31, 2024, the Company holds (i) a 52% controlling interest in subsidiaries whose holdings consist of the Company’s operations in France, Germany and Spain (such subsidiaries collectively, “ATC Europe”) (Allianz and CDPQ (each as defined in note 15) hold the noncontrolling interests), (ii) a 51% controlling interest in a joint venture whose holdings consist of the Company’s operations in Bangladesh (Confidence Tower Holdings Ltd. (“Confidence Group”) holds the noncontrolling interest) and (iii) a controlling common equity interest of approximately 72% in the Company’s U.S. data center business (Stonepeak (as defined and further discussed in note 15) holds approximately 28% of the outstanding common equity and 100% of the outstanding mandatorily convertible preferred equity). As of December 31, 2024, ATC Europe holds an 87% and an 83% controlling interest in subsidiaries that consist of the Company’s operations in Germany and Spain, respectively (PGGM holds the noncontrolling interests). See note 15 for a discussion of changes to the Company’s noncontrolling interests during the years ended December 31, 2024 and 2023.

ATC TIPL Transaction—On September 12, 2024, the Company completed the sale of its subsidiary ATC Telecom Infrastructure Private Limited (“ATC TIPL”), which held the Company’s operations in India (the “ATC TIPL Transaction”). The divestiture qualified for presentation as discontinued operations. See note 22 for further discussion. Prior to the divestiture and classification as discontinued operations, ATC TIPL’s operating results were included within the Asia-Pacific property segment. Historical financial information included in this Annual Report on Form 10-K has been adjusted to reflect the operating results of ATC TIPL as discontinued operations for all periods presented.

Australia & New Zealand—During the year ended December 31, 2024, the Company, through its subsidiary, ATC Asia Pacific Pte. Ltd., entered into agreements to sell 100% of the ownership interests in its subsidiaries in Australia (“ATC Australia”) and New Zealand (“ATC New Zealand”). On November 11, 2024, the Company completed the sale of ATC Australia for total consideration of 63.4 million Australian Dollars (approximately $41.2 million at the date of closing). On December 11, 2024, the Company completed the sale of ATC New Zealand for total consideration of 62.5 million New Zealand Dollars (approximately $36.4 million at the date of closing). The Company recorded a gain on the sales of ATC Australia and ATC New Zealand of $8.5 million, which is included in Other operating expenses in the accompanying consolidated statements of operations. Prior to the divestitures, ATC Australia and ATC New Zealand’s operating results were included within the Africa & APAC property segment. The divestitures did not qualify for presentation as discontinued operations.

Change in Reportable Segments—During the fourth quarter of 2024, following recent divestitures, including the ATC TIPL Transaction, and changes to its organizational structure, the Company reviewed and changed its reportable segments. The Company’s Asia-Pacific (“APAC”) property segment and its Africa property segment were combined into the Africa & APAC property segment. As a result, the Company has six reportable segments: U.S. & Canada property (which includes all assets in the United States and Canada, other than the Company’s data center facilities and related assets), Africa & APAC property, Europe property, Latin America property, Data Centers and Services, which are discussed further in note 20. The change in reportable segments had no impact on the Company’s consolidated financial statements for any periods. Historical financial information included in this Annual Report on Form 10-K has been adjusted to reflect the change in reportable segments.

Significant Accounting Policies and Use of Estimates—The preparation of financial statements in conformity with accounting principles generally accepted in the United States (“GAAP”) requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results may differ from those estimates, and such differences could be material to the accompanying consolidated financial statements. The significant estimates in the accompanying consolidated financial statements include impairment of long-lived assets (including goodwill), revenue recognition, rent expense and lease accounting, income taxes and accounting for business combinations and acquisitions of assets. The Company considers events or transactions that occur after the balance sheet date but before the financial statements are issued as additional evidence for certain estimates or to identify matters that require additional disclosure.

Assets Held for Sale—The Company considers long-lived assets to be “held for sale” upon satisfaction of the following criteria: (a) management commits to a plan to sell an asset (or group of assets), (b) the asset is available for immediate sale in its present condition subject only to terms that are usual and customary for sales of such assets, (c) an active program to locate a buyer and other actions required to complete the plan to sell the asset have been initiated, (d) the sale of the asset is probable and transfer of the asset is expected to be completed within one year, (e) the asset is being actively marketed for sale at a price that is reasonable in relation to its current fair value and (f) actions required to complete the plan indicate that it is unlikely that significant changes to the plan will be made or that the plan will be withdrawn. Typically, these criteria are all met when the relevant assets are under contract, significant non-refundable deposits have been made by the potential buyer, the assets are immediately available for transfer and there are no contingencies related to the sale that may prevent the transaction from closing.

Assets classified as held for sale are reported at the lesser of the carrying value, or estimated fair value, less estimated costs to sell and are not depreciated. The Company reassesses the fair value less costs to sell of assets held for sale in each reporting period in which they are classified as held for sale. Gains (losses) on held for sale assets are recorded in Other operating income in the accompanying consolidated statements of operations.

Discontinued Operations—The Company classifies the results of operations related to a disposal of assets and liabilities (“the disposal group”) in discontinued operations in the consolidated statements of operations if all of the following criteria are met: (a) the operations and cash flows of the disposal group can be clearly distinguished from the rest of the Company, (b) the

disposal group meets the criteria to be classified as held for sale (as described above) or has been sold or disposed of by other means and (c) the disposal represents a strategic shift that has or will have a major effect on the Company’s operations and financial results.

The results of operations classified as discontinued operations are reported in Loss from discontinued operations, net of taxes in the accompanying consolidated statements of operations for all periods presented. Historical financial information included in the notes to the consolidated financial statements is adjusted to reflect the classification of results of operations as discontinued operations. See note 22 for a discussion of the results of operations classified as discontinued operations as of December 31, 2024.

Accounts Receivable and Deferred Rent Asset—The Company derives the largest portion of its revenues and corresponding accounts receivable and the related deferred rent asset from a relatively small number of customers in the telecommunications industry, and 60% of its current-year revenues are derived from four customers.

The Company’s deferred rent asset is associated with non-cancellable tenant leases that contain fixed escalation clauses over the terms of the applicable lease for which revenue is recognized on a straight-line basis over the lease term.

The Company mitigates its concentrations of credit risk with respect to trade receivables and the related deferred rent assets by actively monitoring the creditworthiness of its customers. In recognizing customer revenue, the Company assesses the collectibility of both the amounts billed and the portion recognized in advance of billing on a straight-line basis. This assessment takes customer credit risk and business and industry conditions into consideration to ultimately determine the collectibility of the amounts billed. To the extent the amounts, based on management’s estimates, may not be collectible, revenue recognition is deferred until such point as collectibility is determined to be reasonably assured. Any amounts that were previously recognized as revenue and are subsequently determined to present a risk of collection are reserved as bad debt expense included in Selling, general, administrative and development expense in the accompanying consolidated statements of operations.

Accounts receivable is reported net of allowances for doubtful accounts related to estimated losses resulting from a customer’s inability to make required payments and allowances for amounts invoiced whose collectibility is not reasonably assured. These allowances are generally estimated based on payment patterns, days past due and collection history, and incorporate changes in economic conditions that may not be reflected in historical trends, such as customers in bankruptcy, liquidation or reorganization. Receivables are written-off against the allowances or reserves when they are determined to be uncollectible. Such determination includes analysis and consideration of the particular conditions of the account. Changes in the allowances were as follows:


	Year Ended December 31,
	2024		2023		2022
Balance as of January 1,	$	325.2	$	217.8	$	232.5
Current year increases	130.5		66.5		59.9
Write-offs, recoveries and other	(51.6)		40.9		(74.6)
Balance as of December 31,	$	404.1	$	325.2	$	217.8

Functional Currency—The functional currency of each of the Company’s foreign operating subsidiaries is normally the respective local currency, except for Argentina, Costa Rica, Ghana and Nigeria, where the functional currency is the U.S. Dollar. All foreign currency assets and liabilities held by the subsidiaries are translated into U.S. Dollars at the exchange rate in effect at the end of the applicable fiscal reporting period and all foreign currency revenues and expenses are translated at the average monthly exchange rates. Translation adjustments are reflected in equity as a component of Accumulated other comprehensive loss (“AOCL”) in the consolidated balance sheets and included as a component of Comprehensive income in the consolidated statements of comprehensive income.

Gains and losses on foreign currency transactions are reflected in Other expense in the consolidated statements of operations. However, the effect from fluctuations in foreign currency exchange rates on intercompany debt for which repayment is not anticipated in the foreseeable future is reflected in AOCL in the consolidated balance sheets and included as a component of Comprehensive income.

The Company recorded the following net foreign currency (gains) losses:


	Year Ended December 31,
	2024		2023		2022
Foreign currency losses (gains) recorded in AOCL	$	660.8	$	(103.9)	$	336.7
Foreign currency (gains) losses recorded in Other expense	(308.3)		330.6		(451.4)
Total foreign currency losses (gains)	$	352.5	$	226.7	$	(114.7)

Adoption of Highly Inflationary Accounting in Ghana and Nigeria—The Ghanaian economy was deemed to be highly inflationary and, as a result, the Company adopted highly inflationary accounting as of January 1, 2024 for its subsidiary in Ghana. Under highly inflationary accounting, the functional currency of its subsidiary in Ghana became the U.S. Dollar. All monetary and non-monetary assets and liabilities were remeasured at the U.S. Dollar to Ghanaian Cedis exchange rate of 1 to 11.95 as of December 31, 2023. These amounts became the new basis for those assets and liabilities as of January 1, 2024. Non-monetary assets and liabilities, as well as the corresponding income statement activities such as depreciation, amortization and equity, will continue to be measured at the historical exchange rate on December 31, 2023.

The Nigerian economy was deemed to be highly inflationary and, as a result, the Company adopted highly inflationary accounting as of October 1, 2024 for its subsidiary in Nigeria. Under highly inflationary accounting, the functional currency of its subsidiary in Nigeria became the U.S. Dollar. All monetary and non-monetary assets and liabilities were remeasured at the U.S. Dollar to Nigerian Naira exchange rate of 1 to 1,669 as of September 30, 2024. These amounts became the new basis for those assets and liabilities as of October 1, 2024. Non-monetary assets and liabilities, as well as the corresponding income statement activities such as depreciation, amortization and equity, will continue to be measured at the historical exchange rate on September 30, 2024.

Gains and losses on foreign currency arising in connection with the remeasurement of local currency denominated monetary assets and liabilities for foreign operating subsidiaries in economies that are deemed to be highly inflationary are reflected in Other expense in the consolidated statements of operations. These changes are not expected to have a material impact on the Company’s financial statements, as Ghana’s assets and revenue are approximately 1% and 1% of consolidated assets and revenue, respectively, and Nigeria’s assets and revenue are approximately 1% and 4% of consolidated assets and revenue, respectively.

Cash and Cash Equivalents—Cash and cash equivalents include cash on hand, demand deposits and short-term investments with original maturities of three months or less. The Company maintains its deposits at high-quality financial institutions and monitors the credit ratings of those institutions.

Restricted Cash—Restricted cash includes cash pledged as collateral to secure obligations and all cash whose use is otherwise limited by contractual provisions.

The reconciliation of cash and cash equivalents and restricted cash reported within the applicable balance sheet that sum to the total of the same such amounts shown in the statements of cash flows is as follows:


	Year Ended December 31,
	2024		2023		2022
Cash and cash equivalents	$	1,999.6	$	1,753.7	$	1,548.9
Restricted cash	108.6		119.7		111.1
Cash and cash equivalents included in assets of discontinued operations	—		219.6		479.5
Restricted cash included in assets of discontinued operations	—		0.4		1.2
Total cash, cash equivalents and restricted cash	$	2,108.2	$	2,093.4	$	2,140.7

Property and Equipment—Property and equipment is recorded at cost or, in the case of acquired properties, at estimated fair value on the date acquired. Cost for self-constructed sites includes direct materials and labor and certain indirect costs associated with construction of the site, such as transportation costs, employee benefits and payroll taxes. The Company begins the capitalization of costs during the pre-construction period, which is the period during which costs are incurred to evaluate the site, and continues to capitalize costs until the site is substantially completed and ready for occupancy by a customer. Labor and related costs capitalized for the years ended December 31, 2024, 2023 and 2022 were $67.4 million, $62.1 million and $62.4 million, respectively.

Expenditures for repairs and maintenance are expensed as incurred. Augmentation and improvements that extend an asset’s useful life or enhance capacity are capitalized.

Depreciation expense is recorded using the straight-line method over the assets’ estimated useful lives. The Company finalized its review of the estimated useful lives of its tower assets during the first quarter of 2024. The Company now has over 20 years of operating history, and determined that it should modify its current estimates for asset lives based on its historical operating experience. The Company retained an independent consultant to assist the Company in completing this review and analysis. The Company previously depreciated its towers on a straight-line basis over the shorter of the term of the underlying ground lease (including renewal options) taking into account residual value or the estimated useful life of the tower, which the Company had historically estimated to be 20 years. The Company determined that the estimated useful life of its tower assets is 30 years, before taking into account residual value. Additionally, certain of the Company’s intangible assets are amortized on a similar basis to its tower assets, as the estimated useful lives of such intangible assets correlate to the useful life of the towers. The Company accounted for the changes in the useful lives as a change in accounting estimate under ASC 250 Accounting Changes and Error Corrections, which were recorded prospectively beginning on January 1, 2024. On January 1, 2024, the Company began depreciating its towers and related intangible assets on a straight-line basis over the remaining estimated useful life of the tower, taking into account the extended useful life and residual value. The extension of the asset lives (i) resulted in an approximately $515 million increase in the right of use asset, as additional renewal options may be included, with an offsetting adjustment made to increase the related operating lease liability and (ii) resulted in an estimated $730 million ($649 million after tax, or an increase of $1.39 per diluted share) decrease in depreciation and amortization expense for the year ended December 31, 2024.

Towers or assets acquired through finance leases are recorded net at the present value of future minimum lease payments or the fair value of the leased asset at the inception of the lease. Property and equipment and assets held under finance leases are amortized over the shorter of the applicable lease term or the estimated useful life of the respective assets for periods generally not exceeding thirty years.

The Company reviews its asset portfolio for indicators of impairment on an individual site basis. Impairments primarily result from a site not having current tenant leases or from having expenses in excess of revenues. The Company reviews other long-lived assets for impairment whenever events, changes in circumstances or other evidence indicate that the carrying amount of the Company’s assets may not be recoverable. The Company records impairment charges, which are discussed in note 16, in Other operating expenses in the consolidated statements of operations in the period in which the Company identifies such impairment.

Goodwill and Other Intangible Assets—The Company reviews goodwill for impairment at least annually (as of December 31) or whenever events or circumstances indicate the carrying value of an asset may not be recoverable.

Goodwill is recorded in the applicable segment and assessed for impairment at the reporting unit level. The Company employs a discounted cash flow analysis when testing goodwill for impairment. The key assumptions utilized in the discounted cash flow analysis include current operating performance, terminal revenue growth rate, management’s expectations of future operating results and cash requirements, the current weighted average cost of capital and an expected tax rate. The Company compares the fair value of the reporting unit, as calculated under an income approach using future discounted cash flows, to the carrying amount of the applicable reporting unit. If the carrying amount exceeds the fair value, an impairment loss would be recognized for the amount of the excess. The loss recognized is limited to the total amount of goodwill allocated to that reporting unit.

During the year ended December 31, 2023, the Company concluded that a triggering event occurred with respect to its India reporting unit. As a result, the Company performed a goodwill impairment test based on information observed during its review of strategic alternatives for this reporting unit. The result of the Company’s goodwill impairment test indicated that the carrying amount of the Company's India reporting unit exceeded its estimated fair value. As a result, the Company recorded a goodwill impairment charge of $322.0 million during the quarter ended September 30, 2023, which is recorded in Loss from discontinued operations in the accompanying consolidated statements of operations for the year ended December 31, 2023.

The results of the annual goodwill impairment test as of December 31, 2023 indicated that the carrying amount of the Company’s Spain reporting unit exceeded its estimated fair value. As a result, the Company recorded a goodwill impairment charge of $80.0 million. The goodwill impairment charge for the Spain reporting unit is recorded in Goodwill impairment in the accompanying consolidated statements of operations for the year ended December 31, 2023.

During the years ended December 31, 2024, 2023 and 2022, no other goodwill impairment was identified, as the fair value of each of the reporting units was in excess of its carrying amount.

Intangible assets that are separable from goodwill and are deemed to have a definite life are amortized over their useful lives, generally ranging from two to thirty years and are evaluated separately for impairment at least annually or whenever events or circumstances indicate that the carrying amount of an asset may not be recoverable.

The Company reviews its network location intangible assets for indicators of impairment on an individual tower basis. Impairments primarily result from a site not having current tenant leases or from having expenses in excess of revenues. The Company monitors its tenant-related intangible assets on a tenant by tenant basis for indicators of impairment, such as high levels of turnover or attrition, the customer’s ability to meet its contractual obligations, non-renewal of a significant number of contracts or the cancellation or termination of a relationship. The Company assesses recoverability by determining whether the carrying amount of the related assets will be recovered primarily through projected undiscounted future cash flows. If the Company determines that the carrying amount of an asset may not be recoverable, the Company measures any impairment loss based on the projected future discounted cash flows to be provided from the asset or available market information relative to the asset’s fair value, as compared to the asset’s carrying amount. The Company records impairment charges, which are discussed in note 16, in Other operating expenses in the consolidated statements of operations in the period in which the Company identifies such impairment.

Fair Value Measurements—The Company determines the fair value of its financial instruments based on the fair value hierarchy, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value.

Asset Retirement Obligations—When required, the Company recognizes the fair value of obligations to remove its assets and remediate the leased space upon which certain of its assets are located. Generally, the associated retirement costs are capitalized as part of the carrying amount of the related assets and depreciated over their estimated useful lives and the liability is accreted through the obligation’s estimated settlement date. Fair value estimates of asset retirement obligations generally involve discounting of estimated future cash flows associated with remediation costs. Periodic accretion of such liabilities due to the passage of time is included in Depreciation, amortization and accretion expense in the consolidated statements of operations. Adjustments are also made to the asset retirement obligation liability to reflect changes in the estimates of timing and amount of expected cash flows, with an offsetting adjustment made to the related long-lived tangible asset. The significant assumptions used in estimating the Company’s aggregate asset retirement obligation are: timing of asset removals; cost of asset removals; timing and number of site lease renewals; expected inflation rates; and credit-adjusted, risk-free interest rates that approximate the Company’s incremental borrowing rate.

The Company finalized its review of the estimated settlement dates for its asset retirement obligations during the first quarter of 2024. The Company now has over 20 years of operating history, and determined that it should modify its current estimated settlement dates based on its historical operating experience, management’s intent with respect to the assets, and the assets’ estimated useful lives. Based on its review and analysis, the Company concluded that a revision in the estimated settlement dates for its asset retirement obligations was appropriate. The Company accounted for the change in estimated settlement dates as a change in accounting estimate under ASC 250 Accounting Changes and Error Corrections, which was recorded prospectively beginning on January 1, 2024. The extension in the estimated settlement dates (i) resulted in a $470 million increase in the asset retirement obligation liability, with an offsetting adjustment made to the related long-lived tangible asset and an $875 million increase in the estimated undiscounted future cash outlay for asset retirement obligations, and (ii) resulted in an estimated $75 million decrease in accretion expense for the year ended December 31, 2024.

Income Taxes—As a REIT, the Company generally is not subject to U.S. federal income taxes on income generated by its REIT operations as it receives a dividends paid deduction for distributions to stockholders that generally offsets its REIT income and gains. However, the Company remains obligated to pay U.S. federal income taxes on certain earnings and continues to be subject to taxation in its foreign jurisdictions. Accordingly, the consolidated financial statements reflect provisions for federal, state, local and foreign income taxes. The Company recognizes deferred tax assets and liabilities for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis, as well as operating loss and tax credit carryforwards. The Company measures deferred tax assets and liabilities using enacted tax rates expected to apply to taxable income in the years in which those temporary differences and carryforwards are expected to be recovered or settled. The effect on deferred tax assets and liabilities as a result of a change in tax rates is recognized in income in the period that includes the enactment date.

The Company periodically reviews its deferred tax assets, and provides valuation allowances if, based on the available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized. Management assesses the available positive and negative evidence to estimate if sufficient future taxable income will be generated to use the existing deferred tax assets. Valuation allowances would be reversed as a reduction to the provision for income taxes if related deferred tax assets are deemed realizable based on changes in facts and circumstances relevant to the assets’ recoverability.

The Company estimates the liabilities from uncertain tax positions, which are recorded in Other non-current liabilities in the consolidated balance sheet, unless expected to be paid within one year. The Company reports penalties and tax-related interest expense and interest income from tax refunds as a component of the income tax provision in the consolidated statements of operations.

Other Comprehensive Income (Loss)—Other comprehensive income (loss) refers to items excluded from net income that are recorded as an adjustment to equity, net of tax. The Company’s other comprehensive income (loss) primarily consisted of changes in fair value of effective derivative cash flow hedges, foreign currency translation adjustments, reclassification of unrealized losses on effective derivative cash flow hedges and other items. The AOCL balance included accumulated foreign currency translation losses of $6.0 billion, $5.7 billion and $5.7 billion as of December 31, 2024, 2023 and 2022, respectively.

Distributions—As a REIT, the Company must annually distribute to its stockholders an amount equal to at least 90% of its REIT taxable income (determined before the deduction for distributed earnings and excluding any net capital gain). Generally, the Company has distributed, and expects to continue to distribute, all or substantially all of its REIT taxable income after taking into consideration its utilization of net operating losses (“NOLs”).

The amount, timing and frequency of future distributions will be at the sole discretion of the Board of Directors and will depend upon various factors, a number of which may be beyond the Company’s control, including the Company’s financial condition and operating cash flows, the amount required to maintain its qualification for taxation as a REIT and reduce any income and excise taxes that the Company otherwise would be required to pay, limitations on distributions in the Company’s existing and future debt and preferred equity instruments, the Company’s ability to utilize NOLs to offset the Company’s distribution requirements, limitations on its ability to fund distributions using cash generated through its TRSs and other factors that the Board of Directors may deem relevant.

Acquisitions—For acquisitions that meet the definition of a business combination, the Company applies the acquisition method of accounting where assets acquired and liabilities assumed are recorded at fair value at the date of each acquisition, and the results of operations are included with those of the Company from the dates of the respective acquisitions. Any excess of the purchase price paid by the Company over the amounts recognized for assets acquired and liabilities assumed is recorded as goodwill. The Company continues to evaluate acquisitions for a period not to exceed one year after the applicable acquisition date of each transaction to determine whether any additional adjustments are needed to the allocation of the purchase price paid for the assets acquired and liabilities assumed. All other acquisitions are accounted for as asset acquisitions and the purchase price is allocated to the net assets acquired with no recognition of goodwill. The purchase price is not subsequently adjusted.

The fair value of the assets acquired and liabilities assumed is typically determined by using either estimates of replacement costs or discounted cash flow valuation methods. When determining the fair value of tangible assets acquired, the Company must estimate the cost to replace the asset with a new asset taking into consideration such factors as age, condition and the economic useful life and productive capacity of the asset. When determining the fair value of intangible assets acquired and liabilities assumed, the Company must estimate the timing and amount of future cash flows, including rate and terms of renewal and attrition, and apply the applicable discount rate.

Revenue—The Company’s revenue is derived from leasing the right to use its communications sites, the land on which the sites are located, the land underlying its customers’ sites and the space in its data center facilities (the “lease component”) and from the reimbursement of costs incurred by the Company in operating the communications sites and data center facilities and supporting its customers’ equipment as well as other services and contractual rights (the “non-lease component”). Most of the Company’s revenue is derived from leasing arrangements and is accounted for as lease revenue unless the timing and pattern of revenue recognition of the non-lease component differs from the lease component. If the timing and pattern of the non-lease component revenue recognition differs from that of the lease component, the Company separately determines the stand-alone selling prices and pattern of revenue recognition for each performance obligation. Revenue related to DAS networks and fiber and other related assets results from agreements with customers that are generally not accounted for as leases.

The Company’s revenue from leasing arrangements, including fixed escalation clauses present in non-cancellable lease arrangements, is reported on a straight-line basis over the term of the respective leases when collectibility is probable. Escalation clauses tied to a consumer price index (“CPI”), or other inflation-based indices, and other incentives present in lease agreements with the Company’s tenants, are excluded from the straight-line calculation. Total property straight-line revenues for the years ended December 31, 2024, 2023 and 2022 were $277.6 million, $465.4 million and $508.5 million, respectively.

Non-lease property revenue—Non-lease property revenue consists primarily of revenue generated from DAS networks, fiber and other property related revenue. DAS networks and fiber arrangements generally require that the Company provide the tenant the right to use available capacity on the applicable communications infrastructure. Performance obligations are satisfied

over time for the duration of the arrangements. Non-lease property revenue also includes revenue generated from interconnection offerings in the Company’s data center facilities. Interconnection offerings are generally contracted on a month-to-month basis and are cancellable by the Company or the data center customer at any time. Performance obligations are satisfied over time for the duration of the arrangements. Other property related revenue streams, which include site inspections, are not material on either an individual or consolidated basis.

Services revenue—The Company offers tower-related services in the United States. These services include AZP, structural and mount analyses, and construction management. There is a single performance obligation related to AZP and construction management, and revenue is recognized over time based on milestones achieved, which are determined based on costs expected to be incurred. Structural and mount analyses services may have more than one performance obligation, contingent upon the number of contracted services. Revenue is recognized at the point in time the services are completed.

Some of the Company’s contracts with customers contain multiple performance obligations. For these arrangements, the Company allocates revenue to each performance obligation based on its relative standalone selling price, which is typically based on the price charged to customers in a stand-alone transaction.

Since most of the Company’s contracts are leases, costs to enter into lease arrangements are capitalized under the applicable lease accounting guidance. Costs incurred to obtain non-lease contracts that are capitalized primarily relate to DAS networks and are not material to the consolidated financial statements. The Company has excluded sales tax, value added tax and similar taxes from non-lease revenue.

Revenue is disaggregated by geography in a manner consistent with the Company’s business segments, which are discussed further in note 20. A summary of revenue disaggregated by source and geography is as follows:


Year Ended December 31, 2024	U.S. & Canada		Africa & APAC (1)		Europe		Latin America		Data Centers		Total
Non-lease property revenue	$	297.4	$	29.5	$	12.1	$	109.2	$	132.7	$	580.9
Services revenue	193.7		—		—		—		—		193.7
Total non-lease revenue	$	491.1	$	29.5	$	12.1	$	109.2	$	132.7	$	774.6
Property lease revenue	4,950.7		1,178.5		822.6		1,608.7		792.1		9,352.6
Total revenue	$	5,441.8	$	1,208.0	$	834.7	$	1,717.9	$	924.8	$	10,127.2

_______________

(1) Excludes the operating results of ATC TIPL, which are reported as discontinued operations. See note 22 for further discussion.


Year Ended December 31, 2023	U.S. & Canada		Africa & APAC (1)		Europe		Latin America		Data Centers		Total
Non-lease property revenue	$	322.4	$	24.4	$	13.5	$	127.5	$	116.5	$	604.3
Services revenue	143.0		—		—		—		—		143.0
Total non-lease revenue	$	465.4	$	24.4	$	13.5	$	127.5	$	116.5	$	747.3
Property lease revenue	4,893.8		1,220.0		762.1		1,670.8		718.2		9,264.9
Total revenue	$	5,359.2	$	1,244.4	$	775.6	$	1,798.3	$	834.7	$	10,012.2

(1) Excludes the operating results of ATC TIPL, which are reported as discontinued operations. See note 22 for further discussion.


Year Ended December 31, 2022	U.S. & Canada		Africa & APAC (1)		Europe		Latin America		Data Centers		Total
Non-lease property revenue	$	295.4	$	27.4	$	16.3	$	154.5	$	106.0	$	599.6
Services revenue	241.1		—		—		—		—		241.1
Total non-lease revenue	$	536.5	$	27.4	$	16.3	$	154.5	$	106.0	$	840.7
Property lease revenue	4,710.9		1,176.4		719.4		1,537.4		660.6		8,804.7
Total revenue	$	5,247.4	$	1,203.8	$	735.7	$	1,691.9	$	766.6	$	9,645.4

(1) Excludes the operating results of ATC TIPL, which are reported as discontinued operations. See note 22 for further discussion.

Information about non-lease receivables, contract assets and contract liabilities from contracts with customers is as follows:


	December 31, 2024		December 31, 2023
Accounts receivable	$	97.4	$	73.0
Prepaids and other current assets	45.2		19.1
Notes receivable and other non-current assets	30.4		30.3
Unearned revenue (1)	86.7		90.7
Other non-current liabilities (1)	239.1		256.8

_______________

(1) Includes capital contributions related to DAS networks.

The Company records unearned revenue when payments are received from customers in advance of the completion of the Company’s performance obligations. Long-term unearned revenue is included in Other non-current liabilities.

During the year ended December 31, 2024, the Company recognized $116.8 million of revenue that was previously included in the contract liabilities balances, primarily arising from balances as of December 31, 2023.

The Company records unbilled receivables, which are included in Prepaids and other current assets, when it has completed a performance obligation prior to its ability to bill under the customer arrangement. Other contract assets are included in Notes receivable and other non-current assets. The Company recorded an immaterial change in unbilled receivables attributable to non-lease property revenue recognized during each of the years ended December 31, 2024 and 2023. The changes in contract assets attributable to revenue recognized during the years ended December 31, 2024 and 2023 were immaterial.

The Company does not disclose the value of unsatisfied performance obligations for agreements (i) with an original expected length of one year or less or (ii) for which it recognizes revenue at the amount to which it has the right to invoice for services performed.

Lease Accounting and Rent Expense—The Company accounts for leases using a right-of-use model, which recognizes that, at the date of commencement, a lessee has a financial obligation to make lease payments to the lessor for the right to use the underlying asset during the lease term. The lessee also recognizes a corresponding right-of-use asset related to this right.

The Company recognizes a right-of-use lease asset and lease liability for operating and finance leases. The right-of-use asset is measured as the sum of the lease liability, prepaid or accrued lease payments, any initial direct costs incurred and any other applicable amounts. The Company reviews its right-of-use assets for impairment whenever events, changes in circumstances or other evidence indicate that the carrying amount of the Company’s assets may not be recoverable. The Company reviews its right-of-use assets for indicators of impairment at the lowest level of identifiable cash flows, as part of its asset portfolio. Impairments primarily result from a site not having current tenant leases or from having expenses in excess of revenues. The Company records impairment charges, which are discussed in note 16, in Other operating expenses in the consolidated statements of operations in the period in which the Company identifies such impairment.

The calculation of the lease liability requires the Company to make certain assumptions for each lease, including lease term and discount rate implicit in each lease, which could significantly impact the gross lease obligation, the duration and the present value of the lease liability. When calculating the lease term, the Company considers the renewal, cancellation and termination rights available to the Company and the lessor. The Company determines the discount rate by calculating the incremental borrowing rate on a collateralized basis at the commencement of a lease or upon a change in the lease term.

Many of the leases underlying the Company’s sites have fixed rent escalations, which provide for periodic increases in the amount of ground rent payable by the Company over time. In addition, certain of the Company’s tenant leases require the Company to exercise available renewal options pursuant to the underlying ground lease if the tenant exercises its renewal option. The Company’s calculation of the lease liability includes the term of the underlying ground lease plus all periods, if any, for which failure to renew the lease imposes an economic penalty to the Company such that renewal appears to be reasonably assured.

The straight-line component of ground rent expense for the years ended December 31, 2024, 2023 and 2022 was $46.8 million, $24.4 million and $34.0 million, respectively.

Selling, General, Administrative and Development Expense—Selling, general and administrative expense consists of overhead expenses related to the Company’s property and services operations and corporate overhead costs not specifically allocable to any of the Company’s individual business operations. Development expense consists of costs related to the Company’s acquisition efforts, costs associated with new business initiatives and project cancellation costs.

Stock-Based Compensation—Stock-based compensation expense is measured at the accounting measurement date based on the fair value of the award and is generally recognized as an expense over the service period, which typically represents the vesting period. The Company provides for accelerated vesting and extended exercise periods of stock options and restricted stock units upon an employee’s death or permanent disability, or upon an employee’s qualified retirement, provided certain eligibility criteria are met. Accordingly, the Company recognizes compensation expense for stock options and time-based restricted stock units (“RSUs”) over the shorter of (i) the vesting period or (ii) the period from the date of grant to the date the employee becomes eligible for such benefits due to death, disability or qualified retirement, which may occur upon grant. The expense recognized includes the impact of forfeitures as they occur. Equity awards typically vest ratably. Awards of RSUs and stock options granted prior to March 10, 2023 generally vest over four years. In December 2022, the Company’s Compensation Committee changed the terms of its awards to generally vest over three years. The change in vesting terms is applicable for new awards granted beginning on March 10, 2023 and does not change the vesting terms applicable to grants awarded prior to March 10, 2023.

The Company grants performance-based restricted stock units (“PSUs”) to its executive officers. Threshold, target and maximum parameters are established for a three-year performance period at the time of grant. The metrics are used to calculate the number of shares that will be issuable when the awards vest, which may range from zero to 200% of the target amounts. The Company recognizes compensation expense for PSUs over the three-year vesting period, subject to adjustment based on the date the employee becomes eligible for retirement benefits as well as performance relative to grant parameters. The Company’s PSUs granted in 2024 also include a market condition component.

The fair value of stock options is determined using the Black-Scholes option-pricing model and the fair value of RSUs and PSUs is based on the fair value of the Company’s common stock on the date of grant. For the component of the PSUs subject to a market condition, fair value is determined using a Monte Carlo simulation model, which uses multiple input variables to determine the probability of satisfying the market condition requirements. The Company recognizes all stock-based compensation expense in Selling, general, administrative and development expense.

In connection with the vesting of restricted stock units, the Company withholds from issuance a number of shares of common stock to satisfy certain employee tax withholding obligations arising from such vesting. The shares withheld are considered constructively retired. The Company recognizes the fair value of the shares withheld in Additional paid-in capital on the consolidated balance sheets. As of December 31, 2024, the Company has withheld from issuance an aggregate of 3.3 million shares, including 0.3 million shares related to the vesting of restricted stock units during the year ended December 31, 2024.

Litigation Costs—The Company periodically becomes involved in various claims and lawsuits that are incidental to its business. The Company regularly monitors the status of pending legal actions to evaluate both the magnitude and likelihood of any potential loss. The Company accrues for these potential losses when it is probable that a liability has been incurred and the amount of loss, or possible range of loss, can be reasonably estimated. Should the ultimate losses on contingencies or litigation vary from estimates, adjustments to those liabilities may be required. The Company also incurs legal costs in connection with these matters and records estimates of these expenses, which are reflected in Selling, general, administrative and development expense in the accompanying consolidated statements of operations.

Earnings Per Common Share—Basic and Diluted—Basic net income per common share represents net income attributable to American Tower Corporation common stockholders divided by the weighted average number of common shares outstanding during the period. Diluted net income per common share represents net income attributable to American Tower Corporation common stockholders divided by the weighted average number of common shares outstanding during the period and any dilutive common share equivalents, including (A) shares issuable upon the vesting of RSUs and exercise of stock options and (B) shares expected to be earned upon the achievement of the parameters established for PSUs, each to the extent not anti-dilutive. The Company uses the treasury stock method to calculate the effect of its outstanding RSUs, PSUs and stock options.

Retirement Plan—The Company has a 401(k) plan covering nearly all eligible employees who meet certain age and employment requirements. For the years ended December 31, 2024, 2023 and 2022, the Company matched 100% of the first 5% of a participant's contributions. For the years ended December 31, 2024, 2023 and 2022, the Company contributed $15.0 million, $15.6 million and $15.8 million to the plan, respectively.

Stonepeak Development Partnership— During the year ended December 31, 2024, the Company entered into an agreement with Stonepeak (as defined in note 15) to form a joint venture to construct a new data center in Denver, CO (the “Stonepeak Development Partnership”). At formation, the Company contributed assets with a value of $14.6 million to the Stonepeak Development Partnership and acquired a minority ownership interest (Stonepeak holds the controlling interests). The Company accounts for the Stonepeak Development Partnership as an equity method investment. Under this method, investments are

recorded at cost, and are adjusted for the Company’s share of the entities’ income or loss and for distributions and contributions. The investment is recorded in Other non-current assets in the consolidated balance sheets.

Accounting Standards Updates—In November 2023, the Financial Accounting Standards Board (“FASB”) issued guidance which is intended to improve reportable segment disclosure requirements, primarily through additional disclosures about significant segment expenses. The standard is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. The amendments should be applied retrospectively to all prior periods presented in the financial statements. The Company adopted this guidance for the fiscal year ended December 31, 2024. The adoption of this guidance did not have a material impact on the Company’s financial statements and related disclosures.

In December 2023, the FASB issued guidance which requires public entities to provide enhanced income tax disclosures on an annual basis. The new guidance requires an expanded rate reconciliation and the disaggregation of cash taxes paid by U.S. federal, U.S. state and foreign jurisdictions. The updated guidance is effective for fiscal years beginning after December 15, 2024, with early adoption permitted. The Company is currently evaluating the impact of this guidance on its consolidated financial statements and related disclosures.

In November 2024, the FASB issued guidance which is intended to improve the disclosures about a public business entity’s expenses, primarily through additional disclosures about the types of expenses (including purchases of inventory, employee compensation, depreciation, amortization, and depletion) included in each relevant expense caption presented on the face of the income statement within continuing operations. The guidance is effective on a prospective basis, with the option for retrospective application, for annual periods beginning after December 15, 2026 and interim reporting periods beginning after December 15, 2027, with early adoption permitted. The Company is currently evaluating the impact of this guidance on its consolidated financial statements and related disclosures.

FAIR VALUE MEASUREMENTS - Fair Value of the Individual Tower and Acquired Network Location Intangible Assets Subject to Impairment (Details)	Dec. 31, 2024	Dec. 31, 2023
Minimum \| Terminal Growth Rates on Cash Flows
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Intangible assets, measurement input	0.02	0.02
Minimum \| Weighted Average Cost of Capital
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Intangible assets, measurement input	0.06	0.06
Maximum \| Terminal Growth Rates on Cash Flows
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Intangible assets, measurement input	0.08	0.07
Maximum \| Weighted Average Cost of Capital
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Intangible assets, measurement input	0.56	0.46
Weighted Average \| Terminal Growth Rates on Cash Flows
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Intangible assets, measurement input	0.03	0.03
Weighted Average \| Weighted Average Cost of Capital
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Intangible assets, measurement input	0.10	0.10

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

INCOME TAXES

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

INCOME TAXES

Beginning in the taxable year ended December 31, 2012, the Company has filed, and intends to continue to file, U.S. federal income tax returns as a REIT, and its domestic TRSs filed, and intend to continue to file, separate tax returns as required. The Company also files tax returns in various states and countries. The Company’s state tax returns reflect different combinations of the Company’s subsidiaries and are dependent on the connection each subsidiary has with a particular state and form of organization. The following information pertains to the Company’s income taxes on a consolidated basis.

The income tax provision from continuing operations consisted of the following:


	Year Ended December 31,
	2024		2023		2022
Current:
Federal	$	(1.1)	$	(1.0)	$	(6.5)
State	(8.0)		(4.9)		(5.8)
Foreign	(304.9)		(253.0)		(240.4)
Deferred:
Federal	(7.6)		1.8		(2.8)
State	(1.2)		0.8		0.8
Foreign	(43.5)		165.5		141.9
Income tax provision	$	(366.3)	$	(90.8)	$	(112.8)

The effective tax rate (“ETR”) on income from continuing operations for the years ended December 31, 2024, 2023 and 2022 differs from the federal statutory rate primarily due to the Company’s qualification for taxation as a REIT, as well as adjustments for state and foreign items. As a REIT, the Company may deduct earnings distributed to stockholders against the income generated by its REIT operations.

For the year ended December 31, 2024, the increase in the income tax provision was primarily attributable to increased earnings in certain foreign jurisdictions, partially due to the impacts of the change in estimated useful lives on depreciation and amortization expense as described in note 1 and withholding taxes on equity distributions, including those related to the ATC TIPL Transaction, and management fees from certain foreign subsidiaries. Additionally, the income tax provision for the year ended December 31, 2024, included the reversal of valuation allowances of $20.5 million in foreign and domestic jurisdictions as compared to the reversal of valuation allowances of $87.2 million for the year ended December 31, 2023. The income tax provision for the year ended December 31, 2023 also included a benefit from the application of a tax law change in Kenya.

Reconciliation between the U.S. statutory rate and the effective rate from continuing operations is as follows:


	Year Ended December 31,
	2024		2023		2022
Statutory tax rate	21	%	21	%	21	%
Adjustment to reflect REIT status (1)	(21)		(21)		(21)

Foreign taxes	7		5		4
Foreign withholding taxes	3		4		3
Uncertain tax positions	1		4		2
Changes in tax laws	—		(2)		—

Changes in valuation allowance	(1)		(5)		(4)
Effective tax rate	10	%	6	%	5	%

_______________

(1)As a result of the ability to utilize the dividends paid deduction to offset the Company’s REIT income and gains.

The domestic and foreign components of income from continuing operations before income taxes are as follows:


	Year Ended December 31,
	2024		2023		2022
United States	$	1,745.9	$	1,371.4	$	1,973.2
Foreign	1,878.9		157.9		112.8
Total	$	3,624.8	$	1,529.3	$	2,086.0

The components of the net deferred tax asset and liability and related valuation allowance were as follows:


	December 31, 2024		December 31, 2023
Assets:
Operating lease liability	$	900.8	$	964.2
Net operating loss carryforwards	212.0		276.4
Accrued asset retirement obligations	245.6		226.3
Stock-based compensation	9.9		8.5
Unearned revenue	19.8		35.8
Unrealized loss on foreign currency	25.6		20.8
Other accruals and allowances	46.1		40.3
Nondeductible interest	51.6		67.1
Tax credits (1)	311.2		147.3
Capital loss carryforwards (2)	293.1		175.0
Items not currently deductible and other	58.6		57.3
Liabilities:
Depreciation and amortization	(1,566.0)		(1,568.0)
Right-of-use asset	(907.0)		(978.8)
Deferred rent	(116.3)		(122.9)

Other	(42.6)		(47.3)
Subtotal	(457.6)		(698.0)
Valuation allowance	(681.7)		(433.5)
Net deferred tax liabilities	$	(1,139.3)	$	(1,131.5)

_______________

(1)As of December 31, 2024 includes foreign tax credits determined to be available for use against taxable income.

(2)As of December 31, 2024 and 2023 includes amounts related to the sale of Mexico Fiber. As of December 31, 2024 also includes amounts related to the sale of ATC TIPL.

The Company provides valuation allowances if, based on the available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized. Management assesses the available evidence to estimate if sufficient future taxable income will be generated to use the existing deferred tax assets. Valuation allowances may be reversed if, based on changes in facts and circumstances, the net deferred tax assets have been determined to be realizable.

At December 31, 2024 and 2023, the Company has provided a valuation allowance of $681.7 million and $433.5 million, respectively, which primarily relates to foreign items. The increase in the valuation allowance for the year ending December 31, 2024 is due to uncertainty as to the timing of, and the Company’s ability to recover, net deferred tax assets in certain foreign operations in the foreseeable future, offset by reversals and fluctuations in foreign currency exchange rates. The amount of deferred tax assets considered realizable, however, could be adjusted if objective evidence in the form of cumulative losses is no longer present and additional weight may be given to subjective evidence such as the Company’s projections for growth.

A summary of the activity in the valuation allowance is as follows:


	2024		2023		2022
Balance as of January 1,	$	433.5	$	335.7	$	329.3
Additions (1)	305.6		249.1		93.9
Usage, expiration and reversals	(20.5)		(87.2)		(76.5)
Foreign currency translation	(36.9)		(64.1)		(11.0)
Balance as of December 31,	$	681.7	$	433.5	$	335.7

_______________

(1)Includes net charges to expense and allowances established due to acquisition and divestitures.

The recoverability of the Company’s deferred tax assets has been assessed utilizing projections based on its current operations. Accordingly, the recoverability of the deferred tax assets is not dependent on material asset sales or other non-routine transactions. Based on its current outlook of future taxable income during the carryforward period, the Company believes that deferred tax assets, other than those for which a valuation allowance has been recorded, will be realized.

The Company intends to reinvest foreign earnings indefinitely outside of the U.S., except for earnings in certain entities in Brazil, Burkina Faso, Costa Rica, Jersey, Mexico, Netherlands, Singapore, South Africa, Uganda and the United Kingdom. Any tax consequences for future distributions have been recorded as deferred tax liabilities.

At December 31, 2024, the Company had net federal, state and foreign operating loss carryforwards available to reduce future taxable income. If not utilized, the Company’s NOLs expire as follows:


Years ended December 31,	Federal		State		Foreign
2025 to 2029	$	0.0	$	168.7	$	0.7
2030 to 2034	0.7		44.0		4.3
2035 to 2039	66.1		168.0		0.3
2040 to 2044	—		79.6		8.4
Indefinite carryforward	331.0		68.6		658.2
Total	$	397.8	$	528.9	$	671.9

As of December 31, 2024 and 2023, the total amount of unrecognized tax benefits that would impact the ETR, if recognized, is $101.3 million and $116.9 million, respectively. The amount of unrecognized tax benefits for the year ended December 31, 2024 includes additions to the Company’s existing tax positions of $11.6 million.

The Company expects the unrecognized tax benefits to change over the next 12 months if certain tax matters ultimately settle with the applicable taxing jurisdiction during this timeframe, or if the applicable statute of limitations lapses. The impact of the amount of such changes to previously recorded uncertain tax positions could range from zero to $20.9 million.

A reconciliation of the beginning and ending amount of unrecognized tax benefits are as follows:


	Year Ended December 31,
	2024		2023		2022
Balance at January 1	$	116.9	$	78.1	$	67.4
Additions based on tax positions related to the current year	3.4		42.4		13.1
Additions and reductions for tax positions of prior years	6.9		0.5		18.2

Foreign currency	(14.4)		3.9		(1.1)
Reduction as a result of the lapse of statute of limitations	(2.3)		(2.1)		(0.6)
Reduction as a result of effective settlements	(9.2)		(5.9)		(18.9)
Balance at December 31	$	101.3	$	116.9	$	78.1

During the year ended December 31, 2024, the statute of limitations on certain unrecognized tax benefits lapsed and certain positions were effectively settled, including effective settlements and revisions of prior year positions, which resulted in a decrease of $12.8 million in the liability for unrecognized tax benefits. During the year ended December 31, 2023, the statute of limitations on certain unrecognized tax benefits lapsed and certain positions were effectively settled, including effective settlements and revisions of prior year positions, which resulted in a decrease of $15.5 million in the liability for unrecognized tax benefits. During the year ended December 31, 2022, the statute of limitations on certain unrecognized tax benefits lapsed and certain positions were effectively settled, including effective settlements and revisions of prior year positions, which resulted in a decrease of $23.1 million in the liability for unrecognized tax benefits.

The Company recorded penalties and tax-related interest expense to the tax provision of $28.6 million, $21.8 million and $15.9 million for the years ended December 31, 2024, 2023 and 2022, respectively. During the years ended December 31, 2024, 2023 and 2022, the Company reduced its liability for penalties and income tax-related interest expense related to uncertain tax positions by $10.4 million, $9.7 million and $19.9 million, respectively, due to the expiration of the statute of limitations in certain jurisdictions and certain positions that were effectively settled.

As of December 31, 2024 and 2023, the total amount of accrued income tax-related interest and penalties included in the consolidated balance sheets were $58.5 million and $49.1 million, respectively.

The Company has filed for prior taxable years, and for its taxable year ended December 31, 2024 will file, numerous consolidated and separate income tax returns, including U.S. federal and state tax returns and foreign tax returns. The Company is subject to examination in the United States and various state and foreign jurisdictions for certain tax years. As a result of the Company’s ability to carryforward federal, state and foreign NOLs, the applicable tax years generally remain open to examination several years after the applicable loss carryforwards have been used or have expired. The Company regularly assesses the likelihood of additional assessments in each of the tax jurisdictions resulting from these examinations. The Company believes that adequate provisions have been made for income taxes for all periods through December 31, 2024.

- Definition

The entire disclosure for income tax.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 231
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-231

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12C
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12C

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12B

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 270
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477891/740-270-50-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 6.I.5.Q1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479360/740-10-S99-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-13

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/740/tableOfContent

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-14

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-21

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-17

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479360/740-10-S99-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482603/740-30-50-2

+ Details

SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED)

12 Months Ended

Dec. 31, 2024

Selected Quarterly Financial Information [Abstract]

Selected Quarterly Financial Data (Unaudited)

SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED)

During the year ended December 31, 2024, the Company completed the sale of ATC TIPL. The divestiture qualified for presentation as discontinued operations. See Note 22 for further discussion. Historical financial information included in this Annual Report on Form 10-K has been adjusted to reflect the operating results of ATC TIPL as discontinued operations for all periods presented.

Selected quarterly financial data for the years ended December 31, 2024 and 2023 is as follows (in millions, except per share data):


	Three Months Ended								Year Ended December 31,
	March 31,		June 30,		September 30,		December 31,
2024:
Operating revenues	$	2,512.6	$	2,544.7	$	2,522.3	$	2,547.6	$	10,127.2
Operating income	1,141.0		1,156.2		1,139.2		1,080.1		4,516.5
Net income from continuing operations attributable to American Tower common stockholders	825.7		761.8		416.2		1,229.6		3,233.3
Net income (loss) from discontinued operations attributable to American Tower common stockholders	91.7		138.5		(1,208.5)		—		(978.3)
Net income (loss) attributable to American Tower Corporation common stockholders	917.4		900.3		(792.3)		1,229.6		2,255.0
Earnings per Share:
Basic net income from continuing operations attributable to American Tower Corporation common stockholders	$	1.77	$	1.63	$	0.89	$	2.63	$	6.92
Basic net income (loss) from discontinued operations attributable to American Tower Corporation common stockholders per common share	0.20		0.30		(2.59)		—		(2.09)
Basic net income (loss) attributable to American Tower Corporation common stockholders per common share	$	1.97	$	1.93	$	(1.70)	$	2.63	$	4.83
Diluted net income from continuing operations attributable to American Tower Corporation common stockholders	$	1.77	$	1.63	$	0.89	$	2.62	$	6.91
Diluted net income (loss) from discontinued operations attributable to American Tower Corporation common stockholders	0.20		0.30		(2.58)		—		(2.09)
Diluted net income (loss) attributable to American Tower Corporation common stockholders per common share	$	1.96	$	1.92	$	(1.69)	$	2.62	$	4.82


	Three Months Ended								Year Ended December 31,
	March 31,		June 30,		September 30,		December 31,
2023:
Operating revenues	$	2,520.4	$	2,514.6	$	2,521.1	$	2,456.1	$	10,012.2
Operating income	747.0		852.7		913.0		612.8		3,125.5
Net income from continuing operations attributable to American Tower common stockholders	324.6		435.3		784.4		10.4		1,554.7
Net income (loss) from discontinued operations attributable to American Tower common stockholders	11.2		40.4		(197.5)		74.5		(71.4)
Net income attributable to American Tower Corporation common stockholders	335.8		475.7		586.9		84.9		1,483.3
Earnings per Share:
Basic net income from continuing operations attributable to American Tower Corporation common stockholders	$	0.70	$	0.93	$	1.68	$	0.02	$	3.34
Basic net income (loss) from discontinued operations attributable to American Tower Corporation common stockholders per common share	0.02		0.09		(0.42)		0.16		(0.15)
Basic net income attributable to American Tower Corporation common stockholders per common share	$	0.72	$	1.02	$	1.26	$	0.18	$	3.18
Diluted net income from continuing operations attributable to American Tower Corporation common stockholders	$	0.70	$	0.93	$	1.68	$	0.02	$	3.33
Diluted net income (loss) from discontinued operations attributable to American Tower Corporation common stockholders	0.02		0.09		(0.42)		0.16		(0.15)
Diluted net income attributable to American Tower Corporation common stockholders per common share	$	0.72	$	1.02	$	1.26	$	0.18	$	3.18

ACCRUED EXPENSES (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Accrued Liabilities, Current [Abstract]
Accrued construction costs	$ 166.7	$ 180.0
Accrued income tax payable	20.6	16.3
Accrued pass-through costs	56.8	34.0
Amounts payable for acquisitions	106.4	27.7
Amounts payable to tenants	74.7	102.5
Accrued property and real estate taxes	199.3	194.9
Accrued rent	54.7	51.8
Payroll and related withholdings	129.6	134.0
Other accrued expenses	273.2	311.6
Accrued expenses	1,082.0	$ 1,052.8
Accrued expenses, deferred payment of post-closing adjustments amount	$ 94.9

BUSINESS SEGMENTS - Major Customers (Details) - Customer Concentration Risk - Sales Revenue, Net	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
T-Mobile
Revenue, Major Customer [Line Items]
Concentration risk, percentage	19.00%	19.00%	20.00%
AT&T
Revenue, Major Customer [Line Items]
Concentration risk, percentage	18.00%	18.00%	19.00%
Verizon Wireless
Revenue, Major Customer [Line Items]
Concentration risk, percentage	13.00%	14.00%	13.00%
Telefónica
Revenue, Major Customer [Line Items]
Concentration risk, percentage	10.00%	10.00%	10.00%

SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED) (Tables)

12 Months Ended

Dec. 31, 2024

Selected Quarterly Financial Information [Abstract]

Schedule of Quarterly Financial Information

Selected quarterly financial data for the years ended December 31, 2024 and 2023 is as follows (in millions, except per share data):


	Three Months Ended								Year Ended December 31,
	March 31,		June 30,		September 30,		December 31,
2024:
Operating revenues	$	2,512.6	$	2,544.7	$	2,522.3	$	2,547.6	$	10,127.2
Operating income	1,141.0		1,156.2		1,139.2		1,080.1		4,516.5
Net income from continuing operations attributable to American Tower common stockholders	825.7		761.8		416.2		1,229.6		3,233.3
Net income (loss) from discontinued operations attributable to American Tower common stockholders	91.7		138.5		(1,208.5)		—		(978.3)
Net income (loss) attributable to American Tower Corporation common stockholders	917.4		900.3		(792.3)		1,229.6		2,255.0
Earnings per Share:
Basic net income from continuing operations attributable to American Tower Corporation common stockholders	$	1.77	$	1.63	$	0.89	$	2.63	$	6.92
Basic net income (loss) from discontinued operations attributable to American Tower Corporation common stockholders per common share	0.20		0.30		(2.59)		—		(2.09)
Basic net income (loss) attributable to American Tower Corporation common stockholders per common share	$	1.97	$	1.93	$	(1.70)	$	2.63	$	4.83
Diluted net income from continuing operations attributable to American Tower Corporation common stockholders	$	1.77	$	1.63	$	0.89	$	2.62	$	6.91
Diluted net income (loss) from discontinued operations attributable to American Tower Corporation common stockholders	0.20		0.30		(2.58)		—		(2.09)
Diluted net income (loss) attributable to American Tower Corporation common stockholders per common share	$	1.96	$	1.92	$	(1.69)	$	2.62	$	4.82


	Three Months Ended								Year Ended December 31,
	March 31,		June 30,		September 30,		December 31,
2023:
Operating revenues	$	2,520.4	$	2,514.6	$	2,521.1	$	2,456.1	$	10,012.2
Operating income	747.0		852.7		913.0		612.8		3,125.5
Net income from continuing operations attributable to American Tower common stockholders	324.6		435.3		784.4		10.4		1,554.7
Net income (loss) from discontinued operations attributable to American Tower common stockholders	11.2		40.4		(197.5)		74.5		(71.4)
Net income attributable to American Tower Corporation common stockholders	335.8		475.7		586.9		84.9		1,483.3
Earnings per Share:
Basic net income from continuing operations attributable to American Tower Corporation common stockholders	$	0.70	$	0.93	$	1.68	$	0.02	$	3.34
Basic net income (loss) from discontinued operations attributable to American Tower Corporation common stockholders per common share	0.02		0.09		(0.42)		0.16		(0.15)
Basic net income attributable to American Tower Corporation common stockholders per common share	$	0.72	$	1.02	$	1.26	$	0.18	$	3.18
Diluted net income from continuing operations attributable to American Tower Corporation common stockholders	$	0.70	$	0.93	$	1.68	$	0.02	$	3.33
Diluted net income (loss) from discontinued operations attributable to American Tower Corporation common stockholders	0.02		0.09		(0.42)		0.16		(0.15)
Diluted net income attributable to American Tower Corporation common stockholders per common share	$	0.72	$	1.02	$	1.26	$	0.18	$	3.18

INCOME TAXES - Reconciliation of Unrecognized Tax Benefits (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Unrecognized Tax Benefits [Roll Forward]
Balance at January 1	$ 116.9	$ 78.1	$ 67.4
Additions based on tax positions related to the current year	3.4	42.4	13.1
Additions and reductions for tax positions of prior years	6.9	0.5	18.2
Foreign currency	(14.4)		(1.1)
Foreign currency		3.9
Reduction as a result of the lapse of statute of limitations	(2.3)	(2.1)	(0.6)
Reduction as a result of effective settlements	(9.2)	(5.9)	(18.9)
Balance at December 31	$ 101.3	$ 116.9	$ 78.1

INCOME TAXES - Reconciliation Between The U.S. Statutory Rate And The Effective Rate From Continuing Operations (Details)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Effective Income Tax Rate Reconciliation, Percent [Abstract]
Statutory tax rate	21.00%	21.00%	21.00%
Adjustment to reflect REIT status	(21.00%)	(21.00%)	(21.00%)
Foreign taxes	7.00%	5.00%	4.00%
Foreign withholding taxes	3.00%	4.00%	3.00%
Uncertain tax positions	1.00%	4.00%	2.00%
Changes in tax laws	0.00%	(2.00%)	0.00%
Changes in valuation allowance	(1.00%)	(5.00%)	(4.00%)
Effective tax rate	10.00%	6.00%	5.00%

DISCONTINUED OPERATIONS - Liabilities of Discontinued Operations (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Total current liabilities of discontinued operations	$ 0.0	$ 463.3
Total non-current liabilities of discontinued operations	0.0	823.2
Discontinued Operations, Disposed of by Sale \| ATC TIPL
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Accounts payable	0.0	7.4
Accrued expenses	0.0	227.8
Accrued interest	0.0	2.8
Current portion of operating lease liability	0.0	104.2
Current portion of long-term obligations	0.0	120.2
Unearned revenue	0.0	0.9
Total current liabilities of discontinued operations	0.0	463.3
Operating lease liability	0.0	623.4
Asset retirement obligation	0.0	78.2
Deferred tax liability	0.0	50.8
Other non-current liabilities	0.0	70.8
Total non-current liabilities of discontinued operations	0.0	823.2
Total liabilities of discontinued operations	$ 0.0	$ 1,286.5

INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Schedule of Income Tax Provision from Continuing Operations

The income tax provision from continuing operations consisted of the following:


	Year Ended December 31,
	2024		2023		2022
Current:
Federal	$	(1.1)	$	(1.0)	$	(6.5)
State	(8.0)		(4.9)		(5.8)
Foreign	(304.9)		(253.0)		(240.4)
Deferred:
Federal	(7.6)		1.8		(2.8)
State	(1.2)		0.8		0.8
Foreign	(43.5)		165.5		141.9
Income tax provision	$	(366.3)	$	(90.8)	$	(112.8)

Schedule of Reconciliation Between The U.S. Statutory Rate and The Effective Rate from Continuing Operations

Reconciliation between the U.S. statutory rate and the effective rate from continuing operations is as follows:


	Year Ended December 31,
	2024		2023		2022
Statutory tax rate	21	%	21	%	21	%
Adjustment to reflect REIT status (1)	(21)		(21)		(21)

Foreign taxes	7		5		4
Foreign withholding taxes	3		4		3
Uncertain tax positions	1		4		2
Changes in tax laws	—		(2)		—

Changes in valuation allowance	(1)		(5)		(4)
Effective tax rate	10	%	6	%	5	%

_______________

(1)As a result of the ability to utilize the dividends paid deduction to offset the Company’s REIT income and gains.

Schedule of Domestic and Foreign Components of Income from Continuing Operations Before Income Taxes

The domestic and foreign components of income from continuing operations before income taxes are as follows:


	Year Ended December 31,
	2024		2023		2022
United States	$	1,745.9	$	1,371.4	$	1,973.2
Foreign	1,878.9		157.9		112.8
Total	$	3,624.8	$	1,529.3	$	2,086.0

Schedule of Components of Net Deferred Tax Asset and Liability

The components of the net deferred tax asset and liability and related valuation allowance were as follows:


	December 31, 2024		December 31, 2023
Assets:
Operating lease liability	$	900.8	$	964.2
Net operating loss carryforwards	212.0		276.4
Accrued asset retirement obligations	245.6		226.3
Stock-based compensation	9.9		8.5
Unearned revenue	19.8		35.8
Unrealized loss on foreign currency	25.6		20.8
Other accruals and allowances	46.1		40.3
Nondeductible interest	51.6		67.1
Tax credits (1)	311.2		147.3
Capital loss carryforwards (2)	293.1		175.0
Items not currently deductible and other	58.6		57.3
Liabilities:
Depreciation and amortization	(1,566.0)		(1,568.0)
Right-of-use asset	(907.0)		(978.8)
Deferred rent	(116.3)		(122.9)

Other	(42.6)		(47.3)
Subtotal	(457.6)		(698.0)
Valuation allowance	(681.7)		(433.5)
Net deferred tax liabilities	$	(1,139.3)	$	(1,131.5)

_______________

(1)As of December 31, 2024 includes foreign tax credits determined to be available for use against taxable income.

(2)As of December 31, 2024 and 2023 includes amounts related to the sale of Mexico Fiber. As of December 31, 2024 also includes amounts related to the sale of ATC TIPL.

Schedule of Valuation Allowance

A summary of the activity in the valuation allowance is as follows:


	2024		2023		2022
Balance as of January 1,	$	433.5	$	335.7	$	329.3
Additions (1)	305.6		249.1		93.9
Usage, expiration and reversals	(20.5)		(87.2)		(76.5)
Foreign currency translation	(36.9)		(64.1)		(11.0)
Balance as of December 31,	$	681.7	$	433.5	$	335.7

_______________

(1)Includes net charges to expense and allowances established due to acquisition and divestitures.

Schedule of Net Operating Loss Carryforwards

At December 31, 2024, the Company had net federal, state and foreign operating loss carryforwards available to reduce future taxable income. If not utilized, the Company’s NOLs expire as follows:


Years ended December 31,	Federal		State		Foreign
2025 to 2029	$	0.0	$	168.7	$	0.7
2030 to 2034	0.7		44.0		4.3
2035 to 2039	66.1		168.0		0.3
2040 to 2044	—		79.6		8.4
Indefinite carryforward	331.0		68.6		658.2
Total	$	397.8	$	528.9	$	671.9

Schedule of Change in Unrecognized Tax Benefit

A reconciliation of the beginning and ending amount of unrecognized tax benefits are as follows:


	Year Ended December 31,
	2024		2023		2022
Balance at January 1	$	116.9	$	78.1	$	67.4
Additions based on tax positions related to the current year	3.4		42.4		13.1
Additions and reductions for tax positions of prior years	6.9		0.5		18.2

Foreign currency	(14.4)		3.9		(1.1)
Reduction as a result of the lapse of statute of limitations	(2.3)		(2.1)		(0.6)
Reduction as a result of effective settlements	(9.2)		(5.9)		(18.9)
Balance at December 31	$	101.3	$	116.9	$	78.1

STOCK-BASED COMPENSATION - Summary of the Company's Option Activity (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Options
Options outstanding at beginning of period (in shares)	766,955
Options granted (in shares)	0	0	0
Options exercised (in shares)	(350,283)
Options forfeited (in shares)	0
Options expired (in shares)	0
Options outstanding at end of period (in shares)	416,672	766,955
Options exercisable (in shares)	416,672
Options vested (in shares)	416,672
Weighted Average Exercise Price Per Share
Weighted average exercise price per share of options outstanding at beginning of period (in dollars per share)	$ 92.33
Weighted average exercise price per share of options granted (in dollars per share)	0
Weighted average exercise price per share of options exercised (in dollars per share)	89.40
Weighted average exercise price per share of options forfeited (in dollars per share)	0
Weighted average exercise price per share of options expired (in dollars per share)	0
Weighted average exercise price per share of options outstanding at end of period (in dollars per share)	94.79	$ 92.33
Weighted average exercise price per share of options exercisable (in dollars per share)	94.79
Weighted average exercise price per share of options vested (in dollars per share)	$ 94.79
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
Weighted average remaining life, outstanding	9 months
Weighted average remaining life, exercisable	9 months
Weighted average remaining life, vested	9 months
Aggregate intrinsic value, outstanding	$ 36.9
Aggregate intrinsic value, exercisable	36.9
Aggregate intrinsic value, vested	$ 36.9

OTHER NON-CURRENT LIABILITIES (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Other Liabilities, Noncurrent [Abstract]
Unearned revenue	$ 520.9	$ 474.9
Other miscellaneous liabilities	492.0	674.9
Other non-current liabilities	$ 1,012.9	$ 1,149.8

STOCK-BASED COMPENSATION - Key Assumptions (Details) - PSUs - 2024 PSUs	12 Months Ended
	Dec. 31, 2024
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (years)	2 years 9 months 21 days
Risk-free interest rate	4.31%
Annualized volatility	26.75%

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

LONG-TERM OBLIGATIONS - Subsidiary Debt Narrative (Details) $ in Millions			12 Months Ended
	Mar. 29, 2018 USD ($) numberOfQuarter	May 29, 2015 communicationSite	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)	Mar. 13, 2023 USD ($) site	May 31, 2015 USD ($)
Debt Instrument [Line Items]
Number of trust sites assets \| site					5,029
Debt repayment period	12 months
American Tower Subsidiary
Debt Instrument [Line Items]
Long-term debt			$ 2,310.3	$ 2,308.7
Series 2015-1 Class \| Secured Debt
Debt Instrument [Line Items]
Long-term debt						$ 350.0
Series 2015-2 Notes \| Secured Debt
Debt Instrument [Line Items]
Long-term debt						$ 525.0
Series 2015-2 Notes \| Secured Debt \| American Tower Subsidiary
Debt Instrument [Line Items]
Long-term debt			$ 524.7	524.1
Debt interest rate (as a percent)			3.482%
Commercial Mortgage Pass Through Certificates Series 2015 \| Secured Debt
Debt Instrument [Line Items]
Weighted average life		8 years 1 month 6 days
Weighted average interest rate		3.029%
Number of broadcast and wireless communications towers \| communicationSite		3,338
Restricted cash and cash equivalents			$ 6.9
Series 2023 Securities \| Secured Debt \| American Tower Trust I
Debt Instrument [Line Items]
Debt instrument, term			5 years
Series 2023-1A Securities \| Secured Debt \| American Tower Trust I
Debt Instrument [Line Items]
Debt instrument, face amount					$ 1,300.0
Debt interest rate (as a percent)					5.49%
Series 2023-1A Securities \| Secured Debt \| American Tower Subsidiary
Debt Instrument [Line Items]
Long-term debt			$ 1,288.0	$ 1,284.4
Debt interest rate (as a percent)			3.652%
Series 2023-1R Securities \| Secured Debt \| Affiliated Entity
Debt Instrument [Line Items]
Debt instrument, face amount					$ 68.5
Debt interest rate (as a percent)					5.735%
Series 2013-1A Securities \| Secured Debt
Debt Instrument [Line Items]
Period during which no prepayment consideration is due	18 months
Series 2018-1A Securities \| Secured Debt
Debt Instrument [Line Items]
Period during which no prepayment consideration is due	36 months
Series 2018-1A Securities \| Secured Debt \| Series 2018-1A Securities
Debt Instrument [Line Items]
Principal amount	$ 500.0
Debt interest rate (as a percent)	3.652%
Series 2018-1A Securities \| Secured Debt \| Secured Tower Revenue Securities, Series 2018-1R
Debt Instrument [Line Items]
Debt interest rate (as a percent)	4.459%
Series 2018-1A Securities \| Secured Debt \| Secured Tower Revenue Securities, Series 2018
Debt Instrument [Line Items]
Debt instrument, term			10 years
Series 2018-1A Securities \| Secured Debt \| Affiliated Entity \| Secured Tower Revenue Securities, Series 2018-1R
Debt Instrument [Line Items]
Principal amount	$ 26.4
Series 2013-1A and Series 2013-2A Securities \| Secured Debt
Debt Instrument [Line Items]
Cash trap debt service credit ratio	1.30
Debt covenant, number of consecutive quarters required for release of funds \| numberOfQuarter	2
Minimum debt service credit ratio	1.15
Debt covenant, threshold for majority of holders in event of default	50.00%
Restricted cash and cash equivalents			$ 53.9

FAIR VALUE MEASUREMENTS - Assets And Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Assets:
Unrealized (losses) gains for equity securities	$ 70.4	$ 4.3
Fair Value, Measurements, Recurring \| Fair Value, Inputs, Level 1
Assets:
Equity securities	98.6	28.2
Fair Value, Measurements, Recurring \| Fair Value, Inputs, Level 1 \| Convertible Debt Securities
Assets:
VIL OCDs	0.0	0.0
Fair Value, Measurements, Recurring \| Fair Value, Inputs, Level 2
Assets:
Equity securities	5.3	5.3
Fair Value, Measurements, Recurring \| Fair Value, Inputs, Level 2 \| Convertible Debt Securities
Assets:
VIL OCDs	0.0	192.3
Fair Value, Measurements, Recurring \| Fair Value, Inputs, Level 3
Assets:
Equity securities	0.0	0.0
Fair Value, Measurements, Recurring \| Fair Value, Inputs, Level 3 \| Convertible Debt Securities
Assets:
VIL OCDs	$ 0.0	$ 0.0

- Definition

Amount of investment in equity security measured at fair value with change in fair value recognized in net income (FV-NI).

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
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+ Details

EARNINGS PER COMMON SHARE - Schedule Of Shares Excluded From Computation Of Earnings Per Share (Details) - shares shares in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Restricted stock awards
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares excluded from dilutive effect (in shares)	2	5	86

RELATED PARTY TRANSACTIONS	12 Months Ended
RELATED PARTY TRANSACTIONS	Dec. 31, 2024
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	RELATED PARTY TRANSACTIONSDuring the years ended December 31, 2024, 2023 and 2022, the Company had no significant related party transactions.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Stock-Based Compensation (Details) - shares shares in Millions		1 Months Ended	12 Months Ended
	Mar. 09, 2023	Dec. 31, 2022	Dec. 31, 2024
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares paid for tax withholding for share based compensation (in shares)			3.3
RSUs and Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	4 years	3 years
PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			3 years
PSUs \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of potential target shares			0.00%
PSUs \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of potential target shares			200.00%
PSUs \| 2021 PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			3 years
Restricted stock awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares paid for tax withholding for share based compensation (in shares)			0.3

ACQUISITIONS - Narrative (Details) € in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2024 USD ($) communicationSite tower	Dec. 31, 2024 EUR (€) communicationSite tower	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Business Acquisition [Line Items]
Proceeds from previous acquisition	$ 23.4		$ 10.3	$ 11.9
Telxius Acquisition
Business Acquisition [Line Items]
Total considerations	$ 92.8	€ 88.6
2024 Other Acquisitions \| Communication Sites
Business Acquisition [Line Items]
Number of sites acquired \| communicationSite	55	55
Aggregate purchase price	$ 51.5
Remaining payable on asset acquisition	$ 11.9
AT&T Transaction \| Tower
Business Acquisition [Line Items]
Number of sites acquired \| tower	80	80
Aggregate purchase price	$ 59.1

CONSOLIDATED STATEMENTS OF EQUITY - USD ($) shares in Thousands, $ in Millions	Total	Common Stock	Treasury Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Loss	Distributions in Excess of Earnings	Noncontrolling Interests
Balance at beginning of period (in shares) at Dec. 31, 2021		466,687
Balance at beginning of period (in shares) at Dec. 31, 2021			(10,915)
Balance at beginning of period at Dec. 31, 2021	$ 9,069.6	$ 4.7	$ (1,282.4)	$ 12,240.2	$ (4,738.9)	$ (1,142.4)	$ 3,988.4
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation related activity (in shares)		676
Stock-based compensation related activity	141.9	$ 0.0		141.9
Issuance of common stock - stock purchase plan (in shares)		75
Issuance of common stock—stock purchase plan	15.3	$ 0.0		15.3
Issuance of common stock (in shares)		9,185
Issuance of common stock	2,291.7	$ 0.1		2,291.6
Treasury stock activity (in shares)			(89)
Treasury stock activity	(18.8)		$ (18.8)
Foreign currency translation adjustment, net of tax	(1,165.0)				(979.4)		(185.6)
Reclassification of cumulative translation adjustments associated with the sale of ATC TIPL	0.0
Contributions from noncontrolling interest holders	3,125.4						3,125.4
Distributions to noncontrolling interest	(23.0)						(23.0)
Common stock distributions declared	(2,725.3)					(2,725.3)
Net income (loss)	1,696.7					1,765.8	(69.1)
Balance at end of period (in shares) at Dec. 31, 2022		476,623
Balance at end of period (in shares) at Dec. 31, 2022			(11,004)
Balance at end of period at Dec. 31, 2022	12,408.5	$ 4.8	$ (1,301.2)	14,689.0	(5,718.3)	(2,101.9)	6,836.1
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation related activity (in shares)		586
Stock-based compensation related activity	169.6	$ 0.0		169.6
Issuance of common stock - stock purchase plan (in shares)		91
Issuance of common stock—stock purchase plan	14.3	$ 0.0		14.3
Foreign currency translation adjustment, net of tax	60.2				(21.2)		81.4
Reclassification of cumulative translation adjustments associated with the sale of ATC TIPL	0.0
Contributions from noncontrolling interest holders	12.7						12.7
Distributions to noncontrolling interest	(146.8)						(146.8)
Common stock distributions declared	(3,020.2)					(3,020.2)
Net income (loss)	$ 1,367.1					1,483.3	(116.2)
Balance at end of period (in shares) at Dec. 31, 2023	466,296	477,300
Balance at end of period (in shares) at Dec. 31, 2023	(11,004)		(11,004)
Balance at end of period at Dec. 31, 2023	$ 10,865.4	$ 4.8	$ (1,301.2)	14,872.9	(5,739.5)	(3,638.8)	6,667.2
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation related activity (in shares)		998
Stock-based compensation related activity	169.3	$ 0.0		169.3
Issuance of common stock - stock purchase plan (in shares)		90
Issuance of common stock—stock purchase plan	15.1	$ 0.0		15.1
Foreign currency translation adjustment, net of tax	(1,521.5)				(1,287.4)		(234.1)
Reclassification of cumulative translation adjustments associated with the sale of ATC TIPL	1,072.3				1,072.3
Contributions from noncontrolling interest holders	154.6						154.6
Distributions to noncontrolling interest	(346.4)						(346.4)
Common stock distributions declared	(3,040.3)					(3,040.3)
Net income (loss)	$ 2,280.2					2,255.0	25.2
Balance at end of period (in shares) at Dec. 31, 2024	467,384	478,388
Balance at end of period (in shares) at Dec. 31, 2024	(11,004)		(11,004)
Balance at end of period at Dec. 31, 2024	$ 9,648.7	$ 4.8	$ (1,301.2)	$ 15,057.3	$ (5,954.6)	$ (4,424.1)	$ 6,266.5

COMMITMENTS AND CONTINGENCIES (Details) $ in Millions		12 Months Ended
COMMITMENTS AND CONTINGENCIES (Details) $ in Millions	Mar. 27, 2015 USD ($) renewalPeriod	Dec. 31, 2024 USD ($) communicationsSite tower renewalPeriod	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Loss Contingencies [Line Items]
Aggregate purchase price		$ 1,590.0	$ 1,798.1	$ 1,873.6
Verizon Transaction
Loss Contingencies [Line Items]
Leased assets, number of communication sites \| communicationsSite		11,100
Right to lease, weighted average term	28 years
Aggregate purchase option price for towers	$ 5,000.0
Customer lease, initial term	10 years
Successive terms to renew lease \| renewalPeriod	8
Lease renewal term	5 years
AT&T Transaction
Loss Contingencies [Line Items]
Leased assets, number of communication sites \| tower		1,700
Aggregate purchase option price for towers		$ 1,200.0
Successive terms to renew lease \| renewalPeriod		5
Lease renewal term		5 years
Operating lease, term of contract		27 years
Leased assets, number of communication sites purchased \| communicationsSite		700
Number of sites acquired \| tower		80
Aggregate purchase price		$ 59.1

LEASES - Information About Other Lease-related Balances (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Operating leases:
Right-of-use asset	$ 8,089.6	$ 8,205.1
Current portion of lease liability	576.7	690.4
Lease liability	6,875.6	6,815.3
Total operating lease liability	7,452.3	7,505.7
Finance leases:
Current portion of lease liability	2.6	3.4
Lease liability	14.0	17.2
Total lease liability	$ 16.6	$ 20.6
Finance Lease, Liability, Statement of Financial Position [Extensible Enumeration]	Long-term obligations, Current portion of long-term obligations	Long-term obligations, Current portion of long-term obligations

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	1,000,000,000	1,000,000,000
Common stock, shares issued (in shares)	478,388,000	477,300,000
Common stock, shares outstanding (in shares)	467,384,000	466,296,000
Treasury stock, shares (in shares)	11,004,000	11,004,000

BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2024

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Changes in Allowances

Changes in the allowances were as follows:


	Year Ended December 31,
	2024		2023		2022
Balance as of January 1,	$	325.2	$	217.8	$	232.5
Current year increases	130.5		66.5		59.9
Write-offs, recoveries and other	(51.6)		40.9		(74.6)
Balance as of December 31,	$	404.1	$	325.2	$	217.8

Schedule of Net Foreign Currency (Gains) Losses

The Company recorded the following net foreign currency (gains) losses:


	Year Ended December 31,
	2024		2023		2022
Foreign currency losses (gains) recorded in AOCL	$	660.8	$	(103.9)	$	336.7
Foreign currency (gains) losses recorded in Other expense	(308.3)		330.6		(451.4)
Total foreign currency losses (gains)	$	352.5	$	226.7	$	(114.7)

Schedule of Cash, cash Equivalents, and Restricted Cash


	Year Ended December 31,
	2024		2023		2022
Cash and cash equivalents	$	1,999.6	$	1,753.7	$	1,548.9
Restricted cash	108.6		119.7		111.1
Cash and cash equivalents included in assets of discontinued operations	—		219.6		479.5
Restricted cash included in assets of discontinued operations	—		0.4		1.2
Total cash, cash equivalents and restricted cash	$	2,108.2	$	2,093.4	$	2,140.7

Schedule of Revenue Disaggregated by Source and Geography


Year Ended December 31, 2024	U.S. & Canada		Africa & APAC (1)		Europe		Latin America		Data Centers		Total
Non-lease property revenue	$	297.4	$	29.5	$	12.1	$	109.2	$	132.7	$	580.9
Services revenue	193.7		—		—		—		—		193.7
Total non-lease revenue	$	491.1	$	29.5	$	12.1	$	109.2	$	132.7	$	774.6
Property lease revenue	4,950.7		1,178.5		822.6		1,608.7		792.1		9,352.6
Total revenue	$	5,441.8	$	1,208.0	$	834.7	$	1,717.9	$	924.8	$	10,127.2

_______________

(1) Excludes the operating results of ATC TIPL, which are reported as discontinued operations. See note 22 for further discussion.


Year Ended December 31, 2023	U.S. & Canada		Africa & APAC (1)		Europe		Latin America		Data Centers		Total
Non-lease property revenue	$	322.4	$	24.4	$	13.5	$	127.5	$	116.5	$	604.3
Services revenue	143.0		—		—		—		—		143.0
Total non-lease revenue	$	465.4	$	24.4	$	13.5	$	127.5	$	116.5	$	747.3
Property lease revenue	4,893.8		1,220.0		762.1		1,670.8		718.2		9,264.9
Total revenue	$	5,359.2	$	1,244.4	$	775.6	$	1,798.3	$	834.7	$	10,012.2

(1) Excludes the operating results of ATC TIPL, which are reported as discontinued operations. See note 22 for further discussion.


Year Ended December 31, 2022	U.S. & Canada		Africa & APAC (1)		Europe		Latin America		Data Centers		Total
Non-lease property revenue	$	295.4	$	27.4	$	16.3	$	154.5	$	106.0	$	599.6
Services revenue	241.1		—		—		—		—		241.1
Total non-lease revenue	$	536.5	$	27.4	$	16.3	$	154.5	$	106.0	$	840.7
Property lease revenue	4,710.9		1,176.4		719.4		1,537.4		660.6		8,804.7
Total revenue	$	5,247.4	$	1,203.8	$	735.7	$	1,691.9	$	766.6	$	9,645.4

(1) Excludes the operating results of ATC TIPL, which are reported as discontinued operations. See note 22 for further discussion.

Schedule of Information About Non-Lease Receivables, Contract Assets and Contract Liabilities From Contracts With Tenants

Information about non-lease receivables, contract assets and contract liabilities from contracts with customers is as follows:


	December 31, 2024		December 31, 2023
Accounts receivable	$	97.4	$	73.0
Prepaids and other current assets	45.2		19.1
Notes receivable and other non-current assets	30.4		30.3
Unearned revenue (1)	86.7		90.7
Other non-current liabilities (1)	239.1		256.8

_______________

(1) Includes capital contributions related to DAS networks.

Insider Trading Policies and Procedures	12 Months Ended
Insider Trading Policies and Procedures	Dec. 31, 2024
Insider Trading Policies and Procedures [Line Items]
Insider Trading Policies and Procedures Adopted	true

STOCK-BASED COMPENSATION - Summary of RSUs and PSUs (Details) - $ / shares	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
RSUs
Number of Units
Units outstanding at beginning of period (in shares)	1,638,711
Units granted (in shares)	698,626
Units vested and released (in shares)	(822,455)
Units forfeited (in shares)	(54,180)
Units outstanding at end of period (in shares)	1,460,702	1,638,711
Units expected to vest (in shares)	1,460,702
Units vested and deferred (in shares)	21,078
Weighted Average Grant Date Fair Value
Weighted average grant date fair value of units outstanding at beginning of period (in dollars per share)	$ 210.94
Weighted average grant date fair value of units granted (in dollars per share)	207.27
Weighted average grant date fair value of units vested and released (in dollars per share)	212.91
Weighted average grant date fair value of units forfeited (in dollars per share)	210.80
Weighted average grant date fair value of units outstanding at end of period (in dollars per share)	208.09	$ 210.94
Weighted average grant date fair value of units expected to vest (in dollars per share)	208.09
Weighted average grant date fair value of units vested and deferred (in dollars per share)	$ 215.27
Awards with vesting accelerated (in shares)	63,905
PSUs
Number of Units
Units outstanding at beginning of period (in shares)	363,488
Units granted (in shares)	122,042
Units vested and released (in shares)	(144,925)
Units forfeited (in shares)	(1,337)
Units outstanding at end of period (in shares)	339,268	363,488
Units expected to vest (in shares)	339,268
Units vested and deferred (in shares)	0
Weighted Average Grant Date Fair Value
Weighted average grant date fair value of units outstanding at beginning of period (in dollars per share)	$ 208.14
Weighted average grant date fair value of units granted (in dollars per share)	215.46
Weighted average grant date fair value of units vested and released (in dollars per share)	205.38
Weighted average grant date fair value of units forfeited (in dollars per share)	187.01
Weighted average grant date fair value of units outstanding at end of period (in dollars per share)	212.03	$ 208.14
Weighted average grant date fair value of units expected to vest (in dollars per share)	212.03
Weighted average grant date fair value of units vested and deferred (in dollars per share)	$ 0
PSUs \| 2022 PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance period	3 years	3 years
Number of Units
Units outstanding at beginning of period (in shares)	98,542
Units granted (in shares)	34,492		98,542
Units outstanding at end of period (in shares)		98,542
PSUs \| 2023 PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance period		3 years
Number of Units
Units outstanding at beginning of period (in shares)	118,684
Units granted (in shares)	87,550	118,684
Units outstanding at end of period (in shares)		118,684
PSUs \| 2021 PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance period		3 years
Number of Units
Units outstanding at beginning of period (in shares)	127,318
Units outstanding at end of period (in shares)		127,318
PSUs \| Retention PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance period		1 year
Number of Units
Units outstanding at beginning of period (in shares)	18,944
Units outstanding at end of period (in shares)		18,944
PSUs \| 2024 PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance period	3 years
Number of Units
Units granted (in shares)	87,550
Weighted Average Grant Date Fair Value
Weighted average grant date fair value of units outstanding at end of period (in dollars per share)	$ 216.11

LONG-TERM OBLIGATIONS - Current Portion of Long-Term Obligations and Bank Facilities (Details) € in Millions		12 Months Ended
	May 21, 2024 USD ($)	Dec. 31, 2024 USD ($)	Dec. 31, 2024 EUR (€)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Jan. 15, 2025 USD ($)	Dec. 31, 2024 EUR (€)	May 21, 2024 EUR (€)	May 15, 2024	Feb. 14, 2024	Jan. 12, 2024	Jun. 29, 2023 USD ($)	May 31, 2015 USD ($)
Debt Instrument [Line Items]
Current portion of long-term obligations		$ 3,693,000,000		$ 3,067,300,000
Borrowings under credit facilities		6,932,900,000		6,120,000,000	$ 4,190,000,000
Series 2015-2 Notes \| Secured Debt
Debt Instrument [Line Items]
Debt outstanding													$ 525,000,000.0
2021 Multicurrency Credit Facility \| Revolving Credit Facility
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity		6,000,000,000
2021 Credit Facility \| Revolving Credit Facility
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity												$ 4,000,000,000
American Tower Corporation
Debt Instrument [Line Items]
Debt outstanding		$ 34,174,900,000		36,472,000,000
American Tower Corporation \| 2.950% Notes \| Senior Notes
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage		2.95%					2.95%
Debt outstanding		$ 650,000,000.0		648,200,000
American Tower Corporation \| 2.950% Notes \| Senior Notes \| Subsequent Event
Debt Instrument [Line Items]
Current portion of long-term obligations						$ 650,000,000
Debt outstanding						$ 0
American Tower Corporation \| 2.400% Notes \| Senior Notes
Debt Instrument [Line Items]
Current portion of long-term obligations		$ 750,000,000
Debt Instrument, Interest Rate, Stated Percentage		2.40%					2.40%
Debt outstanding		$ 749,700,000		748,500,000
American Tower Corporation \| 1.375% senior notes \| Senior Notes
Debt Instrument [Line Items]
Current portion of long-term obligations \| €							€ 500.0
Debt Instrument, Interest Rate, Stated Percentage		1.375%					1.375%
Debt outstanding		$ 517,300,000		550,000,000.0
American Tower Corporation \| 4.000% senior notes \| Senior Notes
Debt Instrument [Line Items]
Current portion of long-term obligations		$ 750,000,000
Debt Instrument, Interest Rate, Stated Percentage		4.00%					4.00%
Debt outstanding		$ 749,400,000		748,100,000
American Tower Corporation \| 1.300% senior notes \| Senior Notes
Debt Instrument [Line Items]
Current portion of long-term obligations		$ 500,000,000
Debt Instrument, Interest Rate, Stated Percentage		1.30%					1.30%
Debt outstanding		$ 499,300,000		498,300,000
American Tower Corporation \| 2021 Multicurrency Credit Facility \| Revolving Credit Facility
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage		0.00%					0.00%
Borrowings under credit facilities		$ 5,400,000,000
Repayments of lines of credit		6,100,000,000
Debt outstanding		0		723,400,000
American Tower Corporation \| 2021 Multicurrency Credit Facility In Euros \| Revolving Credit Facility
Debt Instrument [Line Items]
Borrowings under credit facilities		1,000,000,000	€ 900.0
Repayments of lines of credit		1,200,000,000	€ 1,100.0
Debt outstanding		$ 0
American Tower Corporation \| 0.600% senior notes \| Senior Notes
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage		0.60%					0.60%				0.60%
Debt outstanding		$ 0		500,000,000.0
American Tower Corporation \| 5.00% senior notes \| Senior Notes
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage		5.00%					5.00%			5.00%
Debt outstanding		$ 0		1,000,100,000
American Tower Corporation \| 2021 EUR Three Year Delayed Draw Term Loan \| Unsecured Debt
Debt Instrument [Line Items]
Debt instrument, term	3 years
Debt outstanding	$ 895,500,000	$ 0		910,700,000				€ 825.0
American Tower Corporation \| 2021 Credit Facility \| Revolving Credit Facility
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage		0.00%					0.00%
Borrowings under credit facilities		$ 1,500,000,000
Repayments of lines of credit		3,100,000,000
Debt outstanding		$ 0		1,603,400,000
American Tower Corporation \| 3.375% senior notes \| Senior Notes
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage		3.375%					3.375%		3.375%
Debt outstanding		$ 0		649,700,000
American Tower Subsidiary
Debt Instrument [Line Items]
Debt outstanding		2,310,300,000		2,308,700,000
American Tower Subsidiary \| Series 2015-2 Notes \| Secured Debt
Debt Instrument [Line Items]
Current portion of long-term obligations		$ 525,000,000
Debt Instrument, Interest Rate, Stated Percentage		3.482%					3.482%
Debt outstanding		$ 524,700,000		$ 524,100,000

OTHER NON-CURRENT LIABILITIES (Tables)

12 Months Ended

Dec. 31, 2024

Other Liabilities, Noncurrent [Abstract]

Schedule of Other Non-Current Liabilities

Other non-current liabilities consisted of the following:


	As of
	December 31, 2024		December 31, 2023

Unearned revenue	$	520.9	$	474.9
Other miscellaneous liabilities	492.0		674.9
Other non-current liabilities	$	1,012.9	$	1,149.8

LEASES - Supplemental Cash Flow Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$ (1,202.7)	$ (1,264.8)	$ (1,228.1)
Operating cash flows from finance leases	(1.0)	(1.1)	(1.1)
Financing cash flows from finance leases	(4.7)	(6.2)	(6.7)
Non-cash items:
New operating leases	230.0	245.7	402.4
Operating lease modifications and reassessments	859.9	405.9	80.5
Reduction of operating lease liability due to the ATC TIPL Transaction	$ (766.4)	$ 0.0	$ 0.0

Schedule III - SCHEDULE OF REAL ESTATE AND ACCUMULATED DEPRECIATION

12 Months Ended

Dec. 31, 2024

SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]

Schedule III - SCHEDULE OF REAL ESTATE AND ACCUMULATED DEPRECIATION

SCHEDULE III—SCHEDULE OF REAL ESTATE

AND ACCUMULATED DEPRECIATION

(dollars in millions)


Description		Encumbrances			Initial cost to company	Cost capitalized subsequent to acquisition	Gross amount carried at close of current period			Accumulated depreciation at close of current period		Date of construction	Date acquired	Life on which depreciation in latest income statements is computed
148,097	Sites (1)	$	2,325.0	(2)	(3)	(3)	$	20,721.1	(5)	$	(8,494.3)	Various	Various	Up to 30 years
29	Data Centers	—			(4)	(4)	6,861.4		(5)	(1,189.3)		Various	Various	Up to 40 years

_______________

(1) No single site exceeds 5% of the total amounts indicated in the table above.

(2) Certain assets secure debt of $2.3 billion.

(3) The Company has omitted this information, as it would be impracticable to compile such information on a site-by-site basis.

(4) The Company has aggregated data center information on a basis consistent with its tower portfolio.

(5) Does not include those sites under construction.


	2024		2023		2022
Gross amount at beginning	$	28,239.2	$	27,060.9	$	23,948.9
Additions during period:
Acquisitions (1)	91.8		105.2		288.1
Discretionary capital projects (2)	846.6		860.2		398.0
Discretionary ground lease purchases (3)	130.5		126.0		502.0
Redevelopment capital expenditures (4)	335.8		451.5		335.9
Capital improvements (5)	154.4		192.7		155.4
Start-up capital expenditures (6)	79.6		136.7		227.0
Other (7)	416.7		(11.6)		1,672.6
Total additions	2,055.4		1,860.7		3,579.0
Deductions during period:
Cost of real estate sold or disposed	(252.4)		(202.8)		(257.6)
Other (8)	(2,459.7)		(479.6)		(209.4)
Total deductions:	(2,712.1)		(682.4)		(467.0)
Balance at end	$	27,582.5	$	28,239.2	$	27,060.9
Amounts related to discontinued operations	$	—	$	1,516.6	$	1,435.5


	2024		2023		2022
Gross amount of accumulated depreciation at beginning	$	(9,820.6)	$	(8,669.5)	$	(7,548.1)
Additions during period:
Depreciation	(1,002.3)		(1,353.5)		(1,373.3)
Other	—		—		—
Total additions	(1,002.3)		(1,353.5)		(1,373.3)
Deductions during period:
Amount of accumulated depreciation for assets sold or disposed	166.0		89.0		128.9
Other (8)	973.3		113.4		123.0
Total deductions	1,139.3		202.4		251.9
Balance at end	$	(9,683.6)	$	(9,820.6)	$	(8,669.5)
Amounts related to discontinued operations	$	—	$	(598.7)	$	(528.1)

_______________

(1)Includes amounts related to the acquisition of data centers.

(2)Includes amounts incurred primarily for the construction of new sites.

(3)Includes amounts incurred to purchase or otherwise secure the land under communications sites.

(4)Includes amounts incurred to increase the capacity of existing sites, which results in new incremental tenant revenue.

(5)Includes amounts incurred to enhance existing sites by adding additional functionality, capacity or general asset improvements.

(6)Includes amounts incurred in connection with acquisitions or new market launches. Start-up capital expenditures includes non-recurring expenditures contemplated in acquisitions, new market launch business cases or initial deployment of new technologies or platform expansion initiatives that lead to an increase in site-level cash flow generation.

(7)Primarily includes regional improvements, other additions, and net adjustments related to the Company’s asset retirement obligations. For the year ended December 31, 2022, includes $1.6 billion of data center equipment acquired in 2021 not previously classified as an investment in real estate. The Company determined that the inclusion of data center equipment in this schedule would provide better information and be more consistent with others in the data center industry.

(8)Primarily includes foreign currency exchange rate fluctuations and other deductions. For the year ended December 31, 2024, includes the impact of the sales of ATC TIPL, ATC Australia and ATC New Zealand. For the year ended December 31, 2023, includes the impact of the sales of Mexico Fiber and ATC Poland.

BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Schedule of Non-Lease Receivables Contract Assets and Liabilities From Contracts with Tenants (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Schedule of Contract Assets And Liabilities From Contracts With Customers [Line Items]
Prepaids and other current assets	$ 530.6	$ 559.5
Notes receivable and other non-current assets	676.9	755.3
Other non-current liabilities	1,012.9	1,149.8
Total non-lease revenue
Schedule of Contract Assets And Liabilities From Contracts With Customers [Line Items]
Accounts receivable	97.4	73.0
Prepaids and other current assets	45.2	19.1
Notes receivable and other non-current assets	30.4	30.3
Unearned revenue	86.7	90.7
Other non-current liabilities	$ 239.1	$ 256.8

GOODWILL AND OTHER INTANGIBLE ASSETS - Changes in the Carrying Value of Goodwill (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Goodwill [Roll Forward]
Goodwill, beginning balance	$ 12,083.5	$ 12,075.1
Impairments	0.0	(80.0)	$ 0.0
Other		(20.7)
Effect of foreign currency translation	(315.4)	109.1
Goodwill, ending balance	11,768.1	12,083.5	12,075.1
Spain
Goodwill [Roll Forward]
Impairments		(80.0)
U.S. & Canada
Goodwill [Roll Forward]
Goodwill, beginning balance	4,638.6	4,637.5
Impairments		0.0
Other		0.0
Effect of foreign currency translation	(3.9)	1.1
Goodwill, ending balance	4,634.7	4,638.6	4,637.5
Asia-Pacific
Goodwill [Roll Forward]
Goodwill, beginning balance	504.9	556.1
Impairments		0.0
Other		0.0
Effect of foreign currency translation	11.6	(51.2)
Goodwill, ending balance	516.5	504.9	556.1
Europe
Goodwill [Roll Forward]
Goodwill, beginning balance	3,051.9	3,044.0
Impairments		(80.0)
Other		0.0
Effect of foreign currency translation	(189.6)	87.9
Goodwill, ending balance	2,862.3	3,051.9	3,044.0
Latin America
Goodwill [Roll Forward]
Goodwill, beginning balance	966.1	915.5
Impairments		0.0
Other		(20.7)
Effect of foreign currency translation	(133.5)	71.3
Goodwill, ending balance	832.6	966.1	915.5
Data Centers
Goodwill [Roll Forward]
Goodwill, beginning balance	2,920.0	2,920.0
Impairments		0.0
Other		0.0
Effect of foreign currency translation	0.0	0.0
Goodwill, ending balance	2,920.0	2,920.0	2,920.0
Services
Goodwill [Roll Forward]
Goodwill, beginning balance	2.0	2.0
Impairments		0.0
Other		0.0
Effect of foreign currency translation	0.0	0.0
Goodwill, ending balance	$ 2.0	$ 2.0	$ 2.0

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Dec. 31, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

STOCK-BASED COMPENSATION (Tables)

12 Months Ended

Dec. 31, 2024

Share-Based Payment Arrangement [Abstract]

Schedule of Stock-Based Compensation Expenses

During the years ended December 31, 2024, 2023 and 2022, the Company recorded the following stock-based compensation expenses in selling, general, administrative and development expense:


	2024 (2)		2023 (3)		2022
Stock-based compensation expense (1)	$	192.7	$	183.3	$	161.7

_______________

Schedule of Option Activity

The Company’s option activity for the year ended December 31, 2024 was as follows (share and per share data disclosed in full amounts):


	Options	Weighted Average Exercise Price Per Share		Weighted Average Remaining Life (Years)	Aggregate Intrinsic Value
Outstanding as of January 1, 2024	766,955	$	92.33
Granted	—	—
Exercised	(350,283)	89.40
Forfeited	—	—
Expired	—	—
Outstanding as of December 31, 2024	416,672	$	94.79	0.75	$	36.9
Exercisable as of December 31, 2024	416,672	$	94.79	0.75	$	36.9
Vested as of December 31, 2024	416,672	$	94.79	0.75	$	36.9

Schedule of Options Outstanding

The following table sets forth information regarding options outstanding at December 31, 2024 (share and per share data disclosed in full amounts):


Options Outstanding					Options Exercisable
Range of Exercise Price Per Share	Outstanding Number of Options	Weighted Average Exercise Price Per Share		Weighted Average Remaining Life (Years)	Options Exercisable	Weighted Average Exercise Price Per Share

$88.38 - $94.23	3,933	$	90.86	0.61	3,933	$	90.86
$94.57 - $94.71	408,258	94.65		0.74	408,258	94.65
$106.15 - $113.60	4,481	110.80		1.77	4,481	110.80
$88.38 - $113.60	416,672	$	94.79	0.75	416,672	$	94.79

Schedule of RSU and PSU Activity

The Company’s RSU and PSU activity for the year ended December 31, 2024 was as follows (share and per share data disclosed in full amounts):


	RSUs	Weighted Average Grant Date Fair Value		PSUs	Weighted Average Grant Date Fair Value
Outstanding as of January 1, 2024 (1)	1,638,711	$	210.94	363,488	$	208.14
Granted (2)	698,626	207.27		122,042	215.46

Vested and Released (3)	(822,455)	212.91		(144,925)	205.38
Forfeited	(54,180)	210.80		(1,337)	187.01
Outstanding as of December 31, 2024	1,460,702	$	208.09	339,268	$	212.03
Expected to vest as of December 31, 2024	1,460,702	$	208.09	339,268	$	212.03
Vested and deferred as of December 31, 2024 (4)	21,078	$	215.27	—	$	—

_______________

(4)Vested and deferred RSUs are related to deferred compensation for certain former employees.

Schedule of Fair Value Level of Inputs

Below are the three levels of inputs that may be used to measure fair value:


			Level 1			Quoted prices in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date.

			Level 2			Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.

			Level 3			Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.

Year Ended December 31,

2024

2023

Range

Weighted Average

Range

Weighted Average

Terminal growth rates on cash flows (1)

2% to 8%

2% to 7%

Weighted average cost of capital (2)

6% to 56%

10%

6% to 46%

10%

_______________

(1)On a local currency basis.

The significant unobservable inputs used to determine the fair value of the Spain reporting until as of December 31, 2023 included the following:



			2023

Terminal growth rates on cash flows			2%
Weighted average cost of capital			7%

Key assumptions used to apply this pricing model were as follows:


	Year Ended December 31, 2024

Expected term (years)	2.81
Risk-free interest rate	4.31	%
Annualized volatility	26.75	%