American Tower Corporation (AMT)

American Tower Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar 31, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Net Income	3,008	2,629	2,280	1,367	1,697	2,568
Depreciation & Amortization	2,067	2,042	2,125	3,087	3,355	2,333
Stock-Based Compensation	179.2	174.2	203.6	195.7	169.3	119.5
Other Adjustments	480.3	786.3	1,068	887	94.3	-301.9
Change in Receivables	-	-62.2	-103.4	-34.5	-78.6	-191.7
Changes in Accounts Payable	-	-65.6	48	-11.9	-48.2	33.2
Changes in Accrued Expenses	-	45	-9.6	128.6	6.6	42.9
Changes in Unearned Revenue	-0.8	-30.7	-79.3	-43.4	-818.9	743.8
Changes in Other Operating Activities	-288.75	-53.1	-242.2	-852.7	-680.1	-526.1
Operating Cash Flow	5,570	5,464	5,291	4,722	3,696	4,820
Operating Cash Flow Growth	5.05%	3.28%	12.03%	27.76%	-23.31%	24.18%
Capital Expenditures	-1,799	-1,680	-1,590	-1,798	-1,874	-1,377
Purchases of Investments	-	-	-	-	-	-25
Proceeds from Sale of Investments	156.9	294.6	253.2	17.3	19.6	14.3
Payments for Business Acquisitions	-325.8	-454.2	-123	-168	-549	-19,304
Proceeds from Business Divestments	-	-	2,159	-	-	-
Other Investing Activities	-15.7	-19.8	-288.4	253.3	47.8	-0.9
Investing Cash Flow	-1,983	-1,860	410.6	-1,696	-2,355	-20,692
Short-Term Debt Issued	-	-	8.8	148.7	28.8	-
Net Short-Term Debt Issued (Repaid)	-	-	8.8	148.7	28.8	-
Long-Term Debt Issued	8,690	9,078	10,502	13,098	5,484	26,966
Long-Term Debt Repaid	-8,836	-9,450	-12,430	-13,230	-9,626	-13,252
Net Long-Term Debt Issued (Repaid)	-145.6	-372.2	-1,928	-132	-4,142	13,713
Issuance of Common Stock	35	41.7	46.4	22.1	2,324	2,459
Repurchase of Common Stock	-176.2	-364.6	-	-	-18.8	-
Net Common Stock Issued (Repurchased)	-141.2	-322.9	46.4	22.1	2,305	2,459
Common Dividends Paid	-3,195	-3,157	-3,075	-2,949	-2,630	-2,271
Other Financing Activities	-347.8	-356.2	-504.6	-186.9	3,015	2,524
Financing Cash Flow	-4,196	-4,209	-5,452	-3,097	-1,423	16,425
Effect of Exchange Rate Changes on Cash and Cash Equivalents	36.8	101.3	-233.9	23.2	-	-
Net Cash Flow	-572.7	-503	14.8	-47.3	-82.2	552.2
Free Cash Flow	3,771	3,784	3,701	2,924	1,823	3,443
Free Cash Flow Growth	-0.34%	2.25%	26.54%	60.45%	-47.07%	20.83%
FCF Margin	34.85%	35.54%	36.54%	29.21%	18.90%	36.80%
Free Cash Flow Per Share	8.05	8.07	7.91	6.26	3.94	7.60
Levered Free Cash Flow	2,734	2,414	587.4	2,009	-2,406	17,531
Unlevered Free Cash Flow	4,198	4,441	4,312	3,449	2,531	4,092

Updated Apr 28, 2026. Data Source: Fiscal.ai. Real Estate template. Financial Sources.

SEC Filings: 10-K · 10-Q