CROWN CASTLE INC.

For the period ended Dec 31, 2024. Filed Mar 14, 2025.

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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2024 · Filed Mar 14, 2025

CCI$89.35+1.7%Stored close · as of Nov 10, 2026

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Contents

Consolidated Balance Sheet as of December 31,

(In millions of dollars, except par values)

	December 31,
	2024	2023
ASSETS
Current assets:
Cash and cash equivalents	$119	$105
Restricted cash and cash equivalents	171	171
Receivables, net of allowance of $22 and $19, respectively	478	481
Prepaid expenses	106	103
Current portion of deferred site rental receivables	176	116
Other current assets	40	56
Total current assets	1,090	1,032
Deferred site rental receivables	2,343	2,239
Property and equipment, net	15,495	15,666
Operating lease right-of-use assets	5,797	6,187
Goodwill	5,127	10,085
Site rental contracts and tenant relationships, net	2,727	3,122
Other intangible assets, net	54	57
Other assets, net	103	139
Total assets	$32,736	$38,527
LIABILITIES AND EQUITY (DEFICIT)
Current liabilities:
Accounts payable	$192	$252
Accrued interest	244	219
Deferred revenues	476	605
Other accrued liabilities	359	342
Current maturities of debt and other obligations	610	835
Current portion of operating lease liabilities	296	332
Total current liabilities	2,177	2,585
Debt and other long-term obligations	23,471	22,086
Operating lease liabilities	5,236	5,561
Other long-term liabilities	1,985	1,914
Total liabilities	32,869	32,146
Commitments and contingencies (see note 12)
CCI stockholders' equity (deficit):
Common stock, $0.01 par value; 1,200 shares authorized; shares issued and outstanding: December 31, 2024—435 and December 31, 2023—434	4	4
Additional paid-in capital	18,393	18,270
Accumulated other comprehensive income (loss)	(5)	(4)
Dividends/distributions in excess of earnings	(18,525)	(11,889)
Total equity (deficit)	(133)	6,381
Total liabilities and equity (deficit)	$32,736	$38,527

CONSOLIDATED STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)

(In millions of dollars, except per share amounts)

	Years Ended December 31,
	2024	2023	2022
Net revenues:
Site rental	$6,358	$6,532	$6,289
Services and other	210	449	697
Net revenues	6,568	6,981	6,986
Operating expenses:
Costs of operations:(a)
Site rental	1,728	1,664	1,602
Services and other	119	316	466
Selling, general and administrative	706	759	750
Asset write-down charges	148	33	34
Acquisition and integration costs	—	1	2
Depreciation, amortization and accretion	1,738	1,754	1,707
Restructuring charges	109	85	—
Goodwill impairment charges	4,958	—	—
Total operating expenses	9,506	4,612	4,561
Operating income (loss)	(2,938)	2,369	2,425
Interest expense and amortization of deferred financing costs, net	(932)	(850)	(699)
Gains (losses) on retirement of long-term obligations	—	—	(28)
Interest income	19	15	3
Other income (expense)	(28)	(6)	(10)
Income (loss) before income taxes	(3,879)	1,528	1,691
Benefit (provision) for income taxes	(24)	(26)	(16)
Net income (loss)	$(3,903)	$1,502	$1,675
Other comprehensive income (loss):
Foreign currency translation adjustments	(1)	1	(1)
Total other comprehensive income (loss)	(1)	1	(1)
Comprehensive income (loss)	$(3,904)	$1,503	$1,674
Net income (loss), per common share:
Net income (loss)—basic	$(8.98)	$3.46	$3.87
Net income (loss)—diluted	$(8.98)	$3.46	$3.86
Weighted-average common shares outstanding:
Basic	434	434	433
Diluted	434	434	434

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