Prepared Remarks:

Operator

Ladies and gentlemen, thank you for standing by. Welcome to the American Tower first quarter 2022 earnings conference call. As a reminder, today's conference call is being recorded. [Operator instructions] I would now like to turn the call over to your host, Adam Smith, vice president of investor relations.

Please go ahead, sir.

Adam Smith -- Vice President of Investor Relations

Good morning, and thank you for joining American Tower's first quarter 2022 earnings conference call. We have posted a presentation, which we will refer to throughout our prepared remarks under the Investor Relations tab of our website, www.americantower.com. On this morning's call, Tom Bartlett, our president and CEO, will provide an update on our U.S. business.

And then Rod Smith, our executive vice president, CFO, and treasurer, will discuss our Q1 2022 results and revised full year outlook. After these comments, we will open up the call for your questions. Before we begin, I'll remind you that our comments contain forward-looking statements that involve a number of risks and uncertainties. Examples of these statements include our expectations regarding future growth, including our 2022 outlook, capital allocation, and future operating performance; our expectations regarding the financing plan for the CoreSite acquisition; our expectations regarding the impacts of COVID-19; and any other statements regarding matters that are not historical facts.

You should be aware that certain factors may affect us in the future and could cause actual results to differ materially from those expressed in these forward-looking statements. Such factors include the risk factors set forth in this morning's earnings press release, those set forth in our Form 10-K for the year ended December 31st, 2021, and in other filings we make with the SEC. We urge you to consider these factors and remind you that we undertake no obligation to update the information contained in this call to reflect subsequent events or circumstances. With that, I'll turn the call over to Tom.

Tom Bartlett -- President and Chief Executive Officer

Thanks, Adam, and thank you, everyone, for joining our call this morning. In line with our traditional first quarter practice, my comments on this call will primarily focus on our core U.S. and Canadian tower business. which, together with our U.S.-based data center segment, made up approximately 54% of our total property revenues and 65% of our total property segment operating profit in the first quarter.