Operating Expenses
Lease Costs
American Tower Lease Costs decreased by 1.8% to $664.80M in Q1 2026 compared to the prior quarter. Year-over-year, this metric grew by 10.9%, from $599.60M to $664.80M. Over 4 years (FY 2021 to FY 2025), Lease Costs shows relatively stable performance with a -0.1% CAGR.
Analysis
StatementIncome Statement
SectionOperating Expenses
CategoryEfficiency
SignalContext dependent
VolatilityStable
First reportedQ1 2013
Last reportedQ1 2026Apr 28, 2026
How to read this metric
Increasing lease costs may indicate expansion or a shift toward an asset-light strategy, while decreasing costs could signal consolidation or a shift toward asset ownership.
Detailed definition
This metric aggregates the total expenses incurred from leasing arrangements, including operating lease payments, variab...
Peer comparison
Standard across all sectors; peers report this under operating expenses, often broken down in lease-specific disclosures.
Metric ID:
wfc_lease_costsHistorical Data
20 periods
| Q2 '21 | Q3 '21 | Q4 '21 | Q1 '22 | Q2 '22 | Q3 '22 | Q4 '22 | Q1 '23 | Q2 '23 | Q3 '23 | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Value | $623.30M | $693.40M | $705.30M | $771.50M | $794.00M | $808.80M | $87.50M | $787.00M | $810.10M | $625.50M | $624.40M | $605.00M | $627.30M | $626.90M | $622.60M | $599.60M | $640.60M | $657.00M | $676.90M | $664.80M |
| QoQ Change | — | +11.2% | +1.7% | +9.4% | +2.9% | +1.9% | -89.2% | +799.4% | +2.9% | -22.8% | -0.2% | -3.1% | +3.7% | -0.1% | -0.7% | -3.7% | +6.8% | +2.6% | +3.0% | -1.8% |
| YoY Change | — | — | — | — | +27.4% | +16.6% | -87.6% | +2.0% | +2.0% | -22.7% | +613.6% | -23.1% | -22.6% | +0.2% | -0.3% | -0.9% | +2.1% | +4.8% | +8.7% | +10.9% |
Range$87.50M – $810.10M
CAGR+1.4%
Avg YoY Growth+33.2%
Median YoY Growth+2.0%
Lease Costs at Other Companies
Frequently Asked Questions
- What is American Tower's lease costs?
- American Tower (AMT) reported lease costs of $664.80M in Q1 2026.
- How has American Tower's lease costs changed year-over-year?
- American Tower's lease costs increased by 10.9% year-over-year, from $599.60M to $664.80M.
- What is the long-term trend for American Tower's lease costs?
- Over 4 years (2021 to 2025), American Tower's lease costs has grown at a -0.1% compound annual growth rate (CAGR), from $2.59B to $2.57B.
- What does lease costs mean?
- The total expense recognized for renting or leasing assets.