American Tower Corporation (AMT)

American Tower Cash Flow Statement

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

Operating Activities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Net Income	3,314	2,530	2,255	1,483	1,766	2,568
Depreciation & Amortization	2,068	2,042	2,029	2,929	3,165	2,333
Other Amortization	54.1	54.1	54.1	49.8	47.5	39.9
Gain (Loss) on Sale of Assets	-17.3	-17.3	17.9	131.3	36.8	22.7
Gain (Loss) on Sale of Investments	606.7	606.7	-380.1	279	-401.2	-535.2
Asset Writedown	100.7	100.7	68.6	200	147.3	173.7
Restructuring Activities	-0.4	-0.4	10.1	86.6	-0.1	-
Stock-Based Compensation	155.7	174.2	203.6	195.7	169.3	119.5
Change in Accounts Receivable	-62.2	-62.2	-103.4	-34.5	-78.6	-191.7
Change in Accounts Payable	-65.6	-65.6	48	-11.9	-48.2	33.2
Change in Other Net Operating Assets	196	-8.1	-251.8	-724.1	-673.5	-483.2
Other Operating Activities	-588	141.5	77.5	-297.9	-305.4	-3.1
Net Cash from Discontinued Operations	-	-	1,342	480	690.5	-
Operating Cash Flow	5,708	5,464	5,291	4,722	3,696	4,820
Operating Cash Flow Growth	9.02%	3.28%	12.03%	27.76%	-23.31%	24.18%

Investing Activities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Acquisition of Real Estate Assets	-1,747	-1,680	-1,590	-1,798	-1,874	-1,377
Net Sale / Acq. of Real Estate Assets	-1,747	-1,680	-1,590	-1,798	-1,874	-1,377
Cash Acquisition	-297.1	-454.2	-123	-168	-549	-19,304
Investment in Marketable & Equity Securities	239.6	294.6	253.2	17.3	19.6	-10.7
Other Investing Activities	-30.5	-19.8	1,870	253.3	47.8	-0.9
Investing Cash Flow	-1,835	-1,860	410.6	-1,696	-2,355	-20,692

Financing Activities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Short-Term Debt Issued	-	-	8.8	148.7	28.8	-
Long-Term Debt Issued	-	9,078	10,502	13,098	5,484	26,966
Total Debt Issued	8,629	9,078	10,510	13,247	5,512	26,966
Long-Term Debt Repaid	-	-9,450	-12,430	-13,230	-9,626	-13,252
Net Debt Issued (Repaid)	623.6	-372.2	-1,919	16.7	-4,113	13,713
Issuance of Common Stock	28.1	41.7	46.4	22.1	2,324	2,459
Repurchase of Common Stock	-867.6	-364.6	-	-	-18.8	-
Common Dividends Paid	-3,272	-3,157	-3,075	-2,949	-2,630	-2,271
Total Dividends Paid	-3,272	-3,157	-3,075	-2,949	-2,630	-2,271
Other Financing Activities	-489.9	-356.2	-504.6	-186.9	3,015	2,524

Net Cash Flow

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Foreign Exchange Rate Adjustments	11.4	101.3	-233.9	23.2	-120.4	-70.3
Net Cash Flow	-93.5	-503	14.8	-47.3	-202.6	481.9

Free Cash Flow

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Levered Free Cash Flow	3,017	2,829	2,762	2,802	2,018	3,633
Unlevered Free Cash Flow	3,846	3,624	3,585	3,620	2,681	4,138

Additional Metrics

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Cash Interest Paid	1,403	1,287	1,424	1,260	1,089	791.2
Cash Income Tax Paid	384.4	328.7	350.8	306.5	322.3	225.2
Change in Working Capital	14.8	-166.6	-386.5	-813.9	-1,619	102.1

SEC Filings: 10-K · 10-Q

Data Source: S&P Global Market Intelligence Last updated: Sep 30, 2026

Financial data is provided by S&P Global Market Intelligence and updates within hours after each earnings release, which is every three months for this company.

Update frequency:

Quarterly

Last checked:

Oct 31, 2026

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