Crown Castle Inc. · NYSE:CCI
Crown Castle — Crown Castle International — Q1 2022 Earnings Presentation
18 slides from Crown Castle's earnings presentation, Apr 20, 2022
Slide 1: Supplemental Information Package First Quarter 2022
Strategy 3 Asset Portfolio Footprint 5 Research Coverage 7 Portfolio and Financial Highlights 8 Financials & Metrics Condensed Consolidated Statement of Operations 13 Fiber Segment Site Rental Revenues Summary 14 Condensed Consolidated Statement of Cash Flows 16 Summary of Site Rental Straight-Lined
Slide 2: Asset Portfolio Footprint
ASSET PORTFOLIO FOOTPRINT
Slide 3: Management, Board, Research Coverage and Portfolio and Financial Highlights
Catherine Piche 51 11 Executive Vice President and Chief Operating Officer - Towers Kenneth J. Simon 61 6 Executive Vice President and General Counsel Philip M. Kelley 49 24 Executive Vice President - Corporate Development and Strategy J. Landis Martin Chair NESG (a) 76 26 Cindy Christy Director Com
Slide 4: Tower portfolio by vintage
20% 9% Acquired and built Acquired and built 2006 and prior 2007 to present
Slide 5: LQA Cash Site Rental Revenues per Tower
LQA CASH SITE RENTAL REVENUES PER TOWER (c) LQA TOWERS SEGMENT SITE RENTAL GROSS CASH MARGIN PER TOWER (d)
Slide 6: Cash site rental revenues per tower by vintage
$125 $73 Acquired and built Acquired and built 2006 and prior 2007 to present
Slide 7: Net Invested Capital per Tower and Number of Towers
NET INVESTED CAPITAL PER TOWER (e) NUMBER OF TOWERS
Slide 8: Net invested capital per tower by vintage
$546 $571 Acquired and built Acquired and built 2006 and prior 2007 to present
Slide 9: Tower portfolio footnotes
(a) All tower portfolio figures are calculated exclusively for the Company’s towers and rooftops and do not give effect to other activities within the Company’s Towers segment. (b) Cash yield is calculated as LQA Towers segment site rental gross margin, exclusive of straight-lined revenues and amort
Slide 10: Number of towers by vintage and BTA
7,994 20,927 Acquired and built Acquired and built 2006 and prior 2007 to present HE Top 100 BTA HB Outside Top 100 BTA
Slide 11: Tower portfolio by BTA
Acquired and built Acquired and built 2006 and prior 2007 to present HE Top 100 BTA HE Outside Top 100 BTA
Slide 12: Distribution of Tower Tenancy
(a) All tower portfolio figures are calculated exclusively for the Company’s towers and rooftops and do not give effect to other activities within the Company’s Towers segment. (b) Exclusive of straight-lined revenues and amortization of prepaid rent. Crown Castle International Corp. First Quarter 2
Slide 13: Percentage of towers by tenants per tower
3 tenants: 22% 4 tenants: 16% 5 tenants: 10% 2 tenants: 23% Greater than 5 tenants: 7% Less than 2 tenants: 22%
Slide 14: Geographic Tower Distribution
Average: 2.9 Average: 2.2 GEOGRAPHIC TOWER DISTRIBUTION (as of March 31, 2022) (a) PERCENTAGE OF TOWERS BY GEOGRAPHIC LOCATION PERCENTAGE OF LQA CASH SITE RENTAL REVENUES BY GEOGRAPHIC LOCATION (b)
Slide 15: Geographic distribution by state
Other US: 46% CA: 11% TX: 11%
Slide 16: Capitalization Overview
Greater than 20 years 1,504 43 % 1,089 41 % 17,611 44 % 26 39 <1% Senior Secured Tower Revenue Notes, Series 2015-2 (d) 700 Fixed 3.7% 2045 Finance leases and other obligations 236 Various Various Various 2016 Revolver (e) 900 Variable 1.5% 2026 Commercial Paper Notes (f) 1,042 Variable 1.2% 2022 3.
Slide 17: Debt maturity overview
(as of March 31, 2022; dollars in millions)
Slide 18: Summary of Maintenance and Financial Covenants
$ 482 Total debt and other long-term obligations 21,126 2016 Credit Facility CCIC Total Senior Secured Leverage Ratio ≤ 3.50x 0.4x 2015 Tower Revenue Notes Crown Castle Towers LLC and its Subsidiaries Debt Service Coverage Ratio > 1.75x (g) 17.1x 2009 Securitized Notes Pinnacle Towers Acquisition Ho
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