Editing American Tower Corporation
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* American Tower's business, and that of their customers, is subject to laws, regulations and administrative and judicial decisions, and changes thereto, that could restrict their ability to operate our business as they currently do or impact their competitive landscape | * American Tower's business, and that of their customers, is subject to laws, regulations and administrative and judicial decisions, and changes thereto, that could restrict their ability to operate our business as they currently do or impact their competitive landscape | ||
* If American Tower fail to remain qualified for taxation as a REIT, they will be subject to tax at corporate income tax rates, which may substantially reduce funds otherwise available, and even if they qualify for taxation as a REIT, they may face tax liabilities that impact earnings and available cash flow | * If American Tower fail to remain qualified for taxation as a REIT, they will be subject to tax at corporate income tax rates, which may substantially reduce funds otherwise available, and even if they qualify for taxation as a REIT, they may face tax liabilities that impact earnings and available cash flow | ||
* | * complying with REIT requirements may limit our flexibility or cause us to forego otherwise attractive opportunities; | ||
* | * we could have liability under environmental and occupational safety and health laws | ||
* | * if we are unable to protect our rights to the land under our towers and buildings in which our data centers are located, it could adversely affect our business and operating results; and | ||
* | * if we are unable or choose not to exercise our rights to purchase towers that are subject to lease and sublease agreements at the end of the applicable period, our cash flows derived from those towers will be eliminated. | ||
'''<u>Risks related to Tech & Innovation:</u>''' | '''<u>Risks related to Tech & Innovation:</u>''' | ||
* | * new technologies or changes, or lack thereof, in our or a customer’s business model could make our communications infrastructure leasing business less desirable and result in decreasing revenues and operating results; | ||
* | * if we, or third parties on which we rely, experience technology failures, including cybersecurity incidents or the loss of personally identifiable information, we may incur substantial costs and suffer other negative consequences, which may include reputational damage; | ||
'''<u>Risks related to Macro & Political Reasons:</u>''' | '''<u>Risks related to Macro & Political Reasons:</u>''' | ||
* | * our foreign operations are subject to economic, political and other risks that could materially and adversely affect our revenues or financial position, including risks associated with fluctuations in foreign currency exchange rates; | ||
* | * we may be adversely affected by regulations related to climate change; | ||
* | * our towers, fiber networks, data centers or computer systems may be affected by natural disasters (including as a result of climate change) and other unforeseen events for which our insurance may not provide adequate coverage or result in increased insurance premiums; | ||
In the most recent earnings report American Tower disclosed 24 risk factors, two more since last quarter's report, including the following risk distributions: | In the most recent earnings report American Tower disclosed 24 risk factors, two more since last quarter's report, including the following risk distributions: | ||
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