Adjusted Funds From Operations (AFFO) increased 4.7% to $289.7 million, which includes the negative impact of two non-recurring international tax payments of approximately $15.5 million in aggregate and new market start-up capital expenditures of approximately $5.6 million. Core Growth in AFFO was approximately 11.6%, and AFFO per Share increased 2.9% to $0.72.Operating income increased 12.7% to $279.2 million, while net income attributable to American Tower Corporation decreased 33.9% to $135.7 million. The decrease was primarily attributable to a one-time positive net impact of approximately $121.0 million during the fourth quarter of 2011, as a result of the reversal of certain deferred tax assets and liabilities resulting from the Company’s conversion to a real estate investment trust (REIT). In addition, contributing to the decrease was the negative impact of approximately $39.4 million that the Company recorded during the fourth quarter of 2012 in relation to valuation allowances attributable to net operating losses generated by its international rental and management segment. Net income attributable to American Tower Corporation per both basic and diluted common share decreased 34.6% to $0.34.
American Tower Corporation Reports Fourth Quarter And Full Year 2012 Financial Results
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