01—Abstract
Summary
Summary of the 10-K/A filed February 17, 2011. Cited figures are marked; the original filing is the authoritative source.
This filing is Amendment No. 1 to Crown Castle International Corp.'s (NYSE: CCI) Form 10-K for the fiscal year ended December 31, 2010.
Its sole purpose is to furnish Exhibit 101, the XBRL-formatted version of the financial statements and notes, which was omitted from the original 10-K filed February 15, 2011 because of electronic transmission problems. The explanatory note states that no other changes were made and that the amendment does not update or modify disclosures in the original report. The excerpt provided does not include the business description, MD&A, or financial statements, so it contains no revenue, earnings, cash flow, or balance sheet figures.
Investors seeking operating or financial results should review the original 10-K filed February 15, 2011, or this amendment's XBRL exhibits. The cover page provides some context. Crown Castle is a Delaware corporation headquartered in Houston, Texas, and is classified as a large accelerated filer and a well-known seasoned issuer.
As of February 5, 2011, it had 290,888,523 common shares outstanding. The aggregate market value of common equity held by non-affiliates was approximately $10.4 billiona as of June 30, 2010, based on a closing price of $37.26 per share. Part III information (executive compensation, governance, and ownership) is incorporated by reference from the 2011 proxy statement.
For investors, the key takeaway is that this filing is administrative in nature. It does not change any previously reported results, and its value lies mainly in making the financial data machine-readable for analysis tools.
02—Key points
Key Highlights
- Amendment No. 1 was filed solely to furnish Exhibit 101 (XBRL), which was omitted from the original Form 10-K filed February 15, 2011 due to technical transmission issues.
- The amendment makes no changes to the original 10-K's disclosures and does not reflect subsequent events.
- As of February 5, 2011, Crown Castle had 290,888,523 shares of common stock outstanding.
- Non-affiliate market value was approximately $10.4 billion as of June 30, 2010, based on a share price of $37.26.
- Crown Castle is a Delaware corporation headquartered in Houston, Texas, listed on the New York Stock Exchange, and classified as a large accelerated filer and well-known seasoned issuer.
- XBRL exhibits cover the unaudited condensed consolidated balance sheets, statements of operations and comprehensive income (loss), cash flows, and related notes.
- The excerpt provided contains no operating or financial results; those must be reviewed in the full original 10-K.
03—One dollar
04—Financials
Financial Highlights
Figures from 10-K/AFY2010filed February 17, 2011Financial Statements
FY2010 against FY2009
| Line item | FY2010FY2009 | Change |
|---|---|---|
| Revenue | $1.88B$1.69B | +11.5% |
| SG&A Expenses | $165.36M$153.07M | +8.0% |
| Operating Expenses | $1.30B$1.25B | +4.1% |
| Operating Income | $575.37M$433.99M | +32.6% |
| Interest Expense | $404.81M$384.52M | +5.3% |
| Net Income | -$310.94M-$114.33M | −172.0% |
| EPS (Basic) | $-1.16$-0.47 | −146.8% |
| EPS (Diluted) | $-1.16$-0.47 | −146.8% |
| Shares Outstanding (Basic) | 286.76M286.62M | 0.0% |
| Shares Outstanding (Diluted) | 286.76M286.62M | 0.0% |
05—Questions
Frequently Asked Questions
Why was this 10-K/A filed?
To furnish Exhibit 101, the XBRL-formatted financial data, which was left out of the original 10-K filed February 15, 2011 because of technical problems during electronic transmission. No other content was changed.
Does this amendment change Crown Castle's reported 2010 financial results?
No. The company states that no other changes were made to the Form 10-K and that the amendment does not modify or update any disclosures in the original report.
How many shares does Crown Castle have outstanding, and what is its market value?
As of February 5, 2011, there were 290,888,523 common shares outstanding. The aggregate market value of non-affiliate common equity was about $10.4 billion as of June 30, 2010, based on a closing price of $37.26 per share.
Where can investors find the company's financial performance for 2010?
This excerpt does not include the financial statements or MD&A. Investors should consult the original Form 10-K filed February 15, 2011, along with the XBRL exhibits furnished in this amendment.
Where will executive compensation and governance information be found?
Part III information is incorporated by reference from the company's 2011 definitive proxy statement, which must be filed within 120 days after the fiscal year ended December 31, 2010.
06—Continue