0001564590-22-007221 | 10-K | XBRL Viewer

Note 4. Revenues

Disaggregation of Revenue

The following table presents our revenues disaggregated by revenue stream.

	Year Ended December 31,
(Thousands)	2021		2020		2019
Revenue disaggregated by revenue stream
Revenue from contracts with customers
Fiber Infrastructure
Lit backhaul	$	86,915	$	106,125	$	125,983
Enterprise and wholesale		86,390		78,702		66,545
E-Rate and government		74,396		80,428		89,430
Other		3,272		4,341		2,402
Fiber Infrastructure	$	250,973	$	269,596	$	284,360
Leasing		4,449		1,420		-
Consumer CLEC		-		651		10,673
Total revenue from contracts with customers		255,422		271,667		295,033
Revenue accounted for under leasing guidance
Leasing		797,048		744,495		716,640
Fiber Infrastructure		48,052		44,767		31,245
Towers		-		6,112		14,693
Total revenue accounted for under leasing guidance		845,100		795,374		762,578
Total revenue	$	1,100,522	$	1,067,041	$	1,057,611

At December 31, 2021 and 2020, lease receivables were $19.4 million and $17.5 million, respectively, and receivables from contracts with customers were $14.7 million and $45.1 million, respectively.

Contract Assets (Unbilled Revenue) and Liabilities (Deferred Revenue)

Contract assets primarily consist of unbilled construction revenue where we are utilizing our costs incurred as the measure of progress of satisfying our performance obligation. When the contract price is invoiced, the related unbilled receivable is reclassified to trade accounts receivable, where the balance will be settled upon the collection of the invoiced amount. Contract liabilities are generally comprised of upfront fees charged to the customer for the cost of establishing the necessary components of the Company’s network prior to the commencement of use by the customer. Fees charged to customers for the recurring use of the Company’s network are recognized during the related periods of service. Upfront fees that are billed in advance of providing services are deferred until such time the customer accepts the Company’s network and then are recognized as service revenues ratably over a period in which substantive services required under the revenue arrangement are expected to be performed, which is the initial term of the arrangement. During the years ended December 31, 2021, 2020, and 2019, we recognized revenues of $13.2 million, $5.4 million, and $4.7 million, respectively that was included in the December 31, 2020, December 31, 2019, and December 31, 2018 contract liabilities balance, respectively.

The following table provides information about contract assets and contract liabilities accounted for under Topic 606.

(Thousands)	Contract Assets		Contract Liabilities
Balance at December 31, 2020	$	3,462	$	18,601
Balance at December 31, 2021	$	4,066	$	9,099

Transaction Price Allocated to Remaining Performance Obligations

Performance obligations within contracts to stand ready to provide services are typically satisfied over time or as those services are provided. Contract assets primarily relate to costs incremental to obtaining contracts and contract liabilities primarily relate to deferred revenue from non-recurring charges. The deferred revenue is recognized, and the liability reduced, over the contract term as the Company completes the performance obligation. As of December 31, 2021, our future revenues (i.e. transaction price related to remaining performance obligations) under contract accounted for under Topic 606 totaled $445.3 million, of which $345.3 million is related to contracts that are currently being invoiced and have an average remaining contract term of 1.8 years, while $100.0 million represents our backlog for sales bookings which have yet to be installed and have an average remaining contract term of 5.8 years. We do not disclose the value of unsatisfied performance obligations for contracts that have an original expected duration of one year or less.

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI http://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130551-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130556-203045

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130550-203045

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130558-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Business Combinations, Asset Acquisitions and Dispositions

Leases

12 Months Ended

Dec. 31, 2021

Leases [Abstract]

Leases

Note 5. Leases

Lessor Accounting

We lease communications towers, ground, communications equipment, and dark fiber to tenants under operating leases. Our leases have initial lease terms ranging from less than one year to 35 years, most of which include options to extend or renew the leases for less than one year to 20 years (based on the satisfaction of certain conditions as defined in the lease agreements), and some of which may include options to terminate the leases within one to six months. Certain lease agreements contain provisions for future rent increases. Payments due under the lease contracts include fixed payments plus, for some of our leases, variable payments.

The components of lease income for the years ended December 31, 2021 and 2020 are as follows:

(Thousands)

Year Ended

December 31, 2021

Year Ended

December 31, 2020

Lease income - operating leases

845,100

795,374

Lease payments to be received under non-cancellable operating leases where we are the lessor for the remainder of the lease terms are as of December 31, 2021 are as follows:

(Thousands)	December 31, 2021⁽¹⁾
2022	$	755,658
2023		767,822
2024		769,220
2025		770,575
2026		772,204
Thereafter		3,020,118
Total lease receivables	$	6,855,597
⁽¹⁾ Total future minimum lease payments to be received include $5.9 billion relating to the Master Lease with Windstream.

The underlying assets under operating leases where we are the lessor as of December 31, 2021 and 2020 are summarized as follows:

(Thousands)	December 31, 2021			December 31, 2020
Land		26,593		$	26,596
Building and improvements		343,624			335,495
Poles		281,130			266,758
Fiber		3,278,276			2,994,465
Equipment		428			421
Copper		3,918,281			3,850,988
Conduit		89,859			89,773
Tower assets		1,397			1,397
Finance lease assets⁽¹⁾		28,126			32,660
Other assets		10,649			10,425
		7,978,363			7,608,978
Less: accumulated depreciation		(5,391,479	)		(5,222,731	)
Underlying assets under operating leases, net	$	2,586,884		$	2,386,247
⁽¹⁾ December 31, 2020 balance includes $4.5 million assets under operating leases sold on May 28, 2021. See Note 6.

Depreciation expense for the underlying assets under operating leases where we are the lessor for the years ended December 31, 2021 and 2020 is summarized as follows:

(Thousands)

Year Ended

December 31, 2021

Year Ended

December 31, 2020

Depreciation expense for underlying assets under operating leases

178,348

209,946

Lessee Accounting

We have commitments under operating leases for communications towers, ground, colocation and dark fiber lease arrangements. We also have finance leases for dark fiber lease arrangements and other communications equipment. Our leases have initial lease terms ranging from less than one year to 30 years, most of which include options to extend or renew the leases for less than one year to 20 years, and some of which may include options to terminate the leases within one to six months. Certain lease agreements contain provisions for future rent increases. Payments due under the lease contracts include fixed payments plus, for some of our leases, variable payments.

As of December 31, 2021, we have short term lease commitments amounting to approximately $2.6 million, for colocation and dark fiber arrangements.

The components of lease cost are presented within general and administrative expense and operating expense, while sublease income is presented within revenues in our Consolidated Statements of Income (Loss) for the years ended December 31, 2021 and 2020 are as follows:

(Thousands)	Year Ended December 31, 2021			Year Ended December 31, 2020
Finance lease cost
Amortization of ROU assets	$	4,649		$	3,702
Interest on lease liabilities		2,383			3,807
Total finance lease cost		7,032			7,509
Operating lease cost		18,886			24,080
Short-term lease cost		2,885			2,029
Variable lease cost		492			679
Less sublease income		(12,752	)		(12,273	)
Total lease cost	$	16,543		$	22,024

Amounts reported in the Consolidated Balance Sheets for leases where we are the lessee as of December 31, 2021 and 2020 were as follows:

(Thousands)	Location on Consolidated Balance Sheets	December 31, 2021			December 31, 2020
Operating leases
ROU asset, net⁽¹⁾	Other assets, net	$	80,271		$	97,850
ROU liability⁽²⁾	Accounts payable, accrued expenses and other liabilities, net		57,349			71,483

Finance leases
ROU asset, gross⁽³⁾	Property, plant and equipment, net	$	72,284		$	128,098
ROU liability⁽⁴⁾	Finance lease obligations		15,348			48,724

Weighted-average remaining lease term
Operating leases		9.4 years			12.2 years
Finance leases		12.8 years			13.3 years

Weighted-average discount rate
Operating leases			8.6	%		9.9	%
Finance leases			10.6	%		8.0	%
⁽¹⁾ December 31, 2020 balance includes $20.7 million ROU assets sold on May 28, 2021. See Note 6.
⁽²⁾ December 31, 2020 balance includes $17.6 million lease liabilities sold on May 28, 2021. See Note 6.
⁽³⁾ December 31, 2020 balance includes $54.0 million finance lease assets sold on May 28, 2021. See Note 6.
⁽⁴⁾December 31, 2020 balance includes $33.3 million finance lease obligations sold on May 28, 2021. See Note 6.

Other information related to leases as of December 31, 2021 and 2020 are as follows:

(Thousands)	Year Ended December 31, 2021		Year Ended December 31, 2020
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows for finance leases	$	2,383	$	3,807
Operating cash flows for operating leases		22,471		28,485
Financing cash flows for finance leases		2,019		3,702

Non-cash items:
New operating leases and remeasurements, net	$	15,230	$	2,681
New finance leases		-		31

Future lease payments under non-cancellable leases as of December 31, 2021 are as follows:

(Thousands)	Operating Leases			Finance Leases
2022	$	14,348		$	2,329
2023		12,381			2,285
2024		10,087			2,083
2025		7,504			2,021
2026		4,918			2,021
Thereafter		36,283			14,702
Total undiscounted lease payments	$	85,521		$	25,441
Less: imputed interest		(28,172	)		(10,093	)
Total lease liabilities	$	57,349		$	15,348

Future sublease rentals as of December 31, 2021 are as follows:

(Thousands)	Sublease Rentals
2022	$	9,542
2023		9,558
2024		9,661
2025		9,748
2026		9,833
Thereafter		133,585
Total	$	181,927

Windstream Leases

On September 18, 2020, in connection with Windstream’s emergence from bankruptcy and the implementation of the Settlement with Windstream described in Note 16 below, Uniti and Windstream bifurcated the Master Lease and entered into two structurally similar master leases that each expire on April 30, 2030 (collectively, the “Windstream Leases”), which Windstream Leases amended and restated the Master Lease in its entirety. The Windstream Leases consist of two leases: (a) a master lease (the “ILEC MLA”) that governs Uniti owned assets used for Windstream’s incumbent local exchange carrier (“ILEC”) operations and (b) a master lease (the “CLEC MLA”) that governs Uniti owned assets used for Windstream’s competitive local exchange carrier (“CLEC”) operations. The aggregate initial annual rent under the Windstream Leases is equal to the annual rent under the Master Lease previously in effect. The tenants under the ILEC MLA are Windstream Holdings II, LLC (“Windstream Holdings II,” successor in interest to Windstream Holdings, Inc.), Windstream Services II, LLC (“Windstream Services II,” successor in interest to Windstream Services LLC), and certain subsidiaries and/or newly formed affiliated entities operating the ILECs, and the landlords under the ILEC MLA are the Uniti entities that own the applicable ILEC assets. Similarly, the tenants under the CLEC MLA are Windstream Holdings II, Windstream Services II, and certain subsidiaries and/or newly formed affiliated entities operating CLECs, and the landlords under the CLEC MLA are the Uniti entities that own the CLEC assets. The Windstream Leases contain cross-guarantees and cross-default provisions, which will remain effective as long as Windstream or an affiliate is the tenant under both of the Windstream Leases and unless and until the landlords under the ILEC MLA are different from the landlords under the CLEC MLA. The Windstream Leases permit Uniti to transfer its rights and obligations and otherwise monetize or encumber the Windstream Leases, together or separately, so long as Uniti does not transfer interests in either Windstream Lease to a Windstream competitor.

In addition, the Windstream Leases impose certain financial restrictions on Windstream if Windstream fails to maintain certain financial covenants. Windstream covenants not to incur certain indebtedness (other than certain refinancing in a principal amount that does not exceed the sum of the principal amount of the indebtedness refinanced, the accrued and unpaid interest on such indebtedness refinanced and any other amounts owing thereon and any customary costs incurred in connection with such refinancing or drawings under its third party syndicated revolving credit facility, in an amount not to exceed $750 million) if its total leverage ratio, pro forma for the incurrence of such indebtedness, would exceed 3.00:1:00. Further, Windstream covenants not to incur certain additional indebtedness, pay dividends, repurchase stock or prepay unsecured debt, or enter into a transaction with an entity controlled by a member of the board without Uniti’s consent if Windstream’s total leverage ratio exceeds 3.50:1.00. Notwithstanding the foregoing, the financial covenants described herein shall not apply at any time in which Windstream maintains a corporate family rating of not less than “B2” by Moody’s and either “B” by Standard & Poor’s or “B” by Fitch Ratings.

Pursuant to the Windstream Leases, Windstream (or any successor tenant under a Windstream Lease) has the right to cause Uniti to reimburse up to an aggregate $1.75 billion for certain growth capital improvements in long-term value accretive fiber and related assets made by Windstream (or the applicable tenant under the Windstream Lease) to certain ILEC and CLEC properties (the “Growth Capital Improvements”). Uniti’s reimbursement commitment for Growth Capital Improvements does not require Uniti to reimburse Windstream for maintenance or repair expenditures (except for costs incurred for fiber replacements to the CLEC MLA leased property, up to $70 million during the term), and each such reimbursement is subject to underwriting standards. Uniti’s total annual reimbursement commitments for the Growth Capital Improvements under both Windstream Leases (and under

separate equipment loan facilities) were limited to $125 million in 2020 and are limited to $225 million per year in 2021 through 2024; $175 million per year in 2025 and 2026; and $125 million per year in 2027 through 2029.

If the cost incurred by Windstream (or the successor tenant under a Windstream Lease) for Growth Capital Improvements in any calendar year exceeds the annual limit for such calendar year, Windstream (or such tenant, as the case may be) may submit such excess costs for reimbursement in any subsequent year and such excess costs shall be funded from the annual commitment amounts in such subsequent period. In addition, to the extent that reimbursements for Growth Capital Improvements funded in any calendar year during the term is less than the annual limit for such calendar year, the unfunded amount in any calendar year will carry-over and may be added to the annual limits for subsequent calendar years, subject to an annual limit of $250 million in any calendar year, except that, during calendar year 2021, Uniti’s combined total obligation to fund Growth Capital Improvements may exceed $250 million to the extent of any unfunded excess amounts from calendar year 2020. Starting on the first anniversary of each installment of reimbursement for a Growth Capital Improvement, the rent payable by Windstream under the applicable Windstream Lease will increase by an amount equal to 8.0% (the “Rent Rate”) of such installment of reimbursement. The Rent Rate will thereafter increase to 100.5% of the prior Rent Rate on each anniversary of each reimbursement. In the event that the tenant’s interest in either Windstream Lease is transferred by Windstream under the terms thereof (unless transferred to the same transferee), or if Uniti transfers its interests as landlord under either Windstream Lease (unless to the same transferee), the reimbursement rights and obligations will be allocated between the ILEC MLA and the CLEC MLA by Windstream, provided that the maximum that may be allocated to the CLEC MLA following such transfer is $20 million per year. If Uniti fails to reimburse any Growth Capital Improvement payment or equipment loan funding request as and when it is required to do so under the terms of the Windstream Leases, and such failure continues for thirty (30) days, then such unreimbursed amounts may be applied as an offset against the rent owed by Windstream under the Windstream Leases (and such amounts will thereafter be treated as if Uniti had reimbursed them).

Uniti and Windstream have entered into separate ILEC and CLEC Equipment Loan and Security Agreements (collectively “Equipment Loan Agreement”) in which Uniti will provide up to $125 million (limited to $25 million in any calendar year) of the $1.75 billion of GCI commitments discussed above in the form of loans for Windstream to purchase equipment related to network upgrades or to be used in connection with the Windstream Leases. Interest on these loans will accrue at 8% from the date of the borrowing. All equipment financed through the Equipment Loan Agreement is the sole property of Windstream; however, Uniti will receive a first-lien security interest in the equipment purchased with the loans. No such loans have been made to Windstream as of December 31, 2021.

The Windstream Leases provide, and the Master Lease provided, that tenant funded capital improvements (“TCIs”), defined as maintenance, repair, overbuild, upgrade or replacement to the Distribution Systems, including without limitation, the replacement of copper distribution systems with fiber distribution systems, automatically become property of Uniti upon their construction by Windstream. We receive non-monetary consideration related to TCIs as they automatically become our property, and we recognize the cost basis of TCIs that are capital in nature as real estate investments and deferred revenue. We depreciate the real estate investments over their estimated useful lives and amortize the deferred revenue as additional leasing revenues over the same depreciable life of the TCI assets. TCIs exclude Growth Capital Improvements as an when reimbursed by Uniti.

During the year ended December 31, 2021, Uniti reimbursed $221.5 million of Growth Capital Improvements, of which $28.5 million, as allowed for under the Settlement, represented the reimbursement of capital improvements completed in 2020 that were previously classified as TCIs. Upon reimbursement, the Company reduced the unamortized portion of deferred revenue related to these capital improvements and capitalized the difference between the cash provided to Windstream and the unamortized deferred revenue as a lease incentive. This lease incentive, which is $0.9 million and reported within other assets on our Consolidated Balance Sheet as of December 31, 2021, will be amortized against revenue over the initial term of the Windstream Leases. Subsequent to December 31, 2021, Windstream requested and we reimbursed $13.4 million of qualifying Growth Capital Improvements that were reported as TCIs as of December 31, 2021. As of the date of this Annual Report on Form 10-K, we have reimbursed a total of $319.6 million of Growth Capital Improvements.

Business Combinations, Asset Acquisitions and Dispositions

12 Months Ended

Dec. 31, 2021

Business Combinations [Abstract]

Note 6. Business Combinations, Asset Acquisitions and Dispositions

2021 Transactions

Everstream OpCo-PropCo Transaction

On May 28, 2021, the Company completed its previously announced strategic transaction with Everstream Solutions LLC (“Everstream”). As part of the transaction, Uniti entered into two 20-year dark fiber indefeasible rights of use (“IRU”) lease agreements with Everstream on Uniti owned fiber. Concurrently, Uniti sold its Uniti Fiber Northeast operations and certain dark fiber IRU contracts acquired as part of the Windstream settlement to Everstream. Total cash consideration, including upfront IRU payments, was approximately $135 million. In addition to the upfront proceeds, Uniti will receive fees of approximately $3 million annually from Everstream over the initial 20-year term of the IRU lease agreements, subject to an annual escalator of 2%. During the quarter ended June 30, 2021, we recorded a gain of $28.1 million related to this transaction, which is included in gain on sale of operations in our Consolidated Statements of Income (Loss).

(Thousands)
Assets and liabilities sold:
Assets:
Property, plant and equipment, net	$	44,685
Goodwill		17,794
Intangible assets, net		7,264
Right of use assets, net		19,841
Total assets	$	89,584

Liabilities:
Lease liabilities	$	18,779
Intangible liabilities, net		4,492
Finance lease obligations		32,343
Total liabilities	$	55,614

Cash consideration	$	62,113
Less: total assets and liabilities sold, net		(33,970	)
Gain on sale of operations	$	28,143

2020 Transactions

Windstream Settlement Agreement

On September 18, 2020, and in furtherance of the Settlement Agreement (see Note 16), Uniti and Windstream closed an asset purchase agreement, as amended by a letter agreement (collectively, the “Asset Purchase Agreement”), pursuant to which (a) Uniti paid to Windstream approximately $284.6 million and (b) Windstream (i) granted to Uniti exclusive rights to use 1.8 million fiber strand miles leased by Windstream under the CLEC MLA, which fiber strands are either unutilized or utilized under certain dark fiber indefeasible rights of use (“IRUs”) that were simultaneously transferred to Uniti, (ii) conveyed to Uniti fiber assets (and underlying rights) consisting of 0.4 million fiber strand miles (covering 4,000 route miles) owned by Windstream, and (iii) transferred and assigned to subsidiaries of Uniti dark fiber IRUs relating to (x) the fiber strand miles granted to Uniti under the CLEC MLA (and described in clause (i)) and (y) the fiber assets (and underlying rights) for the 0.4 million fiber strand miles conveyed to Uniti (and described in clause (ii)), which IRUs generated $28.9 million of annual EBITDA in the aggregate as of the closing of the Asset Purchase Agreement. In addition, upon the transfer of the Windstream owned fiber assets (described in clause (ii) above), Uniti granted to Windstream a 20-year IRU for certain strands included in the transferred fiber assets.

The Company concluded that the Asset Purchase Agreement, and the obligation for Uniti to make cash payments to Windstream in accordance with the terms of the Settlement Agreement (see Note 16), should be combined for the accounting purpose of ASC 842. As such, total consideration provided to Windstream under the Settlement has been allocated as follows:

(Thousands)
Consideration:
Asset Purchase Agreement	$	284,550
Fair value of settlement obligation		438,577
Total consideration	$	723,127

Fair values of the assets acquired and liabilities assumed as of the acquisition date:
Property, plant and equipment	$	170,754
Intangible assets, net		69,832
Other assets		27,632
Intangible liabilities, net		(195,091	)
Total assets acquired, net		73,127
Settlement expense		650,000
Total	$	723,127

Of the $69.8 million of intangible assets acquired, $59.3 million is related to contracts (8-year weighted-average life) and $10.5 million is related to underlying rights agreements (30-year life). The Company determined the useful life of the contract intangible assets using the weighted-average remaining term and the rights of way intangible asset by aligning the useful life of the intangible with that of the underlying fiber assets acquired. The intangible liabilities represent below market leases, where we are the lessor, and has a weighted-average useful life of 19 years, which aligns with the terms of the agreements. Acquired right of use assets $27.6 million are recorded within other assets on our Consolidated Balance Sheets.

Sale of Midwest Fiber Network

On July 1, 2020, the Company completed the sale of the entity that controlled the Company’s Midwest fiber network assets (the “Propco”) to Macquarie Infrastructure Partners (“MIP”), selling net assets having a book value of $186.5 million for total cash consideration of $167.6 million. The Company retained a 20% investment interest in the Propco, having a fair value of $41.9 million, through a newly-formed limited liability company with MIP (see Note 7). During the third quarter of 2020, we recorded a gain of $23.0 million related to this transaction.

Sale of U.S. Tower Portfolio

On June 1, 2020, the Company completed the sale of its U.S. tower business to Melody, selling net assets having a book value of $190.0 million for total cash consideration of $225.8 million. The Company retained a 10% investment interest in the tower business, having a fair value of $26.0 million, through a newly-formed limited partnership with Melody (see Note 7), and will receive incremental earn-out payments, estimated to be $1.6 million, which is included in other assets on the Consolidated Balance Sheet as of December 31, 2021. During the second quarter of 2020, we recorded a gain of $63.4 million related to this transaction.

2019 Transactions

Bluebird Network, LLC

On August 30, 2019, the Company closed on its operating company/property company (“OpCo-PropCo”) transaction with MIP to acquire Bluebird Network, LLC (“Bluebird”). MIP operates within the Macquarie Infrastructure and Real Assets division of Macquarie Group. Bluebird’s network consists of approximately 178,000 fiber strand miles in the Midwest across Missouri, Kansas, Illinois and Oklahoma. In the transaction, Uniti purchased the Bluebird fiber network and MIP purchased the Bluebird operations. In addition, Uniti sold Uniti Fiber’s Midwest operations to MIP, while Uniti retains its existing Midwest fiber network. Uniti acquired the fiber network of Bluebird for $320.8 million, which included transaction costs of $1.8 million. Uniti funded $175 million in cash and $144 million from pre-paid rent received from MIP at closing. The pre-paid rent is recorded within deferred revenue on our Consolidated Balance Sheet. In connection with the sale of the Company’s Midwest operations, we received total upfront cash of approximately $37 million, including related pre-paid rent received from MIP at closing. Concurrently with the closing of these transactions, Uniti has leased the Bluebird fiber network and its Midwest fiber network on a combined basis to MIP, under a long-term triple net lease (the “Bluebird Lease”). The Bluebird Lease is reported within the results of our Leasing segment. The Midwest operations that were sold to MIP were previously reported in our Fiber Infrastructure segment.

The acquisition of the Bluebird network was accounted for as an asset acquisition. The following is a summary of the estimated fair values of the assets acquired and liabilities assumed as of the acquisition date:

	(thousands)
Property, plant and equipment	$	139,566
Intangible assets		175,401
Other assets		8,946
Accounts payable, accrued expenses and other liabilities		(3,095	)
Total purchase consideration	$	320,818

Acquired right of use assets and liabilities of $8.9 million and $3.1 million are recorded within other assets, net and accounts payable, accrued expenses and other liabilities, net on our Consolidated Balance Sheets, respectively. Of the $175.4 million of intangible assets acquired, $124.7 million is related to rights of way (30 year life) and $50.7 million is related to an in-place lease (20 year life). The Company determined the useful life of the rights of way intangible asset by aligning the useful life of the intangible with that of the underlying fiber assets acquired. The in-place lease will be amortized over the initial 20-year lease term.

Upon the sale of our Midwest operations, we recognized an approximately $2.2 million net loss, which is recorded within other (income) expense on the Consolidated Statements of Income (Loss). This loss included the allocation of approximately $2.2 million of goodwill. See Note 11.

Sale of Ground Lease Portfolio

On May 23, 2019, the Company completed the sale of substantially all of its U.S. ground lease business. During second quarter of 2019, we received cash consideration of $30.7 million resulting in a pre-tax gain of $5.0 million. We sold an additional ground lease during the third quarter of 2019, receiving cash consideration of $2.9 million.

Sale of Latin American Tower Portfolio

On April 2, 2019, the Company completed the sale of the Uniti Towers’ Latin America business (“LATAM”) to an entity controlled by Phoenix Towers International for cash consideration of $101.6 million resulting in a pre-tax gain of $23.8 million.

JKM Consulting Inc. (M2 Connections)

On March 25, 2019, we acquired 100% of the outstanding equity of JKM Consulting Inc. d/b/a M² Connections (“M²”) for cash consideration of $5.5 million. M² is a dark fiber and internet access provider primarily to educational institutions in Alabama. This acquisition strengthens Uniti Fiber’s relationships with new E-Rate customers. The acquisition was recorded by allocating the costs of the assets acquired based on their estimated fair values at the acquisition date. The excess of the cost of the acquisition over the fair value of the assets acquired is recorded as goodwill of $1.7 million within our Fiber Infrastructure segment. See Note 15. For federal income tax purposes, the transaction was treated as a taxable acquisition. Thus, all of the goodwill is expected to be deductible for tax purposes. The financial results of M² are included in the Fiber Infrastructure segment from the date of acquisition and were not material, individually or in the aggregate, to our results of operations and therefore, pro forma financial information has not been presented.

Investment in Unconsolidated Entities

12 Months Ended

Dec. 31, 2021

Equity Method Investments And Joint Ventures [Abstract]

Investment in Unconsolidated Entities

Note 7. Investment in Unconsolidated Entities

As of December 31, 2021, the Company had an aggregate investment of $64.2 million in its equity method unconsolidated entities, which included a 42% interest in Fiber Holdings and approximately a 7% interest in Harmoni.

Fiber Holdings

Fiber Holdings was primarily established to develop fiber networks as real estate property for long-term investment. Fiber Holdings has a 47.5% ownership in the Propco that is under a long-term, triple net lease with our joint venture partner. Our ownership interest in Fiber Holdings represents approximately a 20% economic interest in the Propco. The Company’s current investment and maximum exposure to loss as a result of its involvement with Fiber Holdings was approximately $39.9 million as of December 31, 2021. The Company has not provided financial support to Fiber Holdings.

Harmoni

Harmoni was primarily established to develop wireless communication towers as real estate property for long-term investment. We concluded that Harmoni is a VIE; however, the Company determined that it was not the primary beneficiary of Harmoni because the Company lacks the power to direct the activities that most significantly impact its economic performance. The Company’s current investment and maximum exposure to loss as a result of its involvement with Harmoni was approximately $24.3 million as of December 31, 2021. The Company has not provided financial support to Harmoni.

We provide transition services to Harmoni in exchange for fees and reimbursements. Total transition service fees earned in connection with Harmoni were $0.3 million and $0.7 million for the years ended December 31, 2021 and 2020, respectively, which is included in operating expense on a net basis in our Consolidated Statements of Income (Loss).

Fair Value of Financial Instruments

12 Months Ended

Dec. 31, 2021

Fair Value Disclosures [Abstract]

Fair Value of Financial Instruments

Note 8. Fair Value of Financial Instruments

FASB ASC 820, Fair Value Measurements, establishes a hierarchy of valuation techniques based on the observability of inputs utilized in measuring assets and liabilities at fair values. This hierarchy establishes market-based or observable inputs as the preferred source of values, followed by valuation models using management assumptions in the absence of market inputs. The three levels of the hierarchy are as follows:

Level 1 – Quoted prices (unadjusted) in active markets for identical assets or liabilities that the reporting entity can access at the assessment date

Level 2 – Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly

Level 3 – Unobservable inputs for the asset or liability

Our financial instruments consist of cash and cash equivalents, accounts and other receivables, derivative instruments, contingent consideration, our outstanding notes and other debt, and accounts, interest and dividends payable.

The following table summarizes the fair value of our financial instruments at December 31, 2021 and 2020:

(Thousands)	Total		Quoted Prices in Active Markets (Level 1)		Prices with Other Observable Inputs (Level 2)		Prices with Unobservable Inputs (Level 3)
At December 31, 2021
Liabilities
Senior secured notes - 7.875%, due February 15, 2025	$	2,351,576	$	—	$	2,351,576	$	—
Senior secured notes - 4.75%, due April 15, 2028		560,857		—		560,857		—
Senior unsecured notes - 6.50%, due February 15, 2029		1,087,844		—		1,087,844		—
Senior unsecured notes - 6.00%, due January 15, 2030		659,992		—		659,992		—
Exchangeable senior unsecured notes - 4.00%, due June 15, 2024		453,104		—		453,104		—
Senior secured revolving credit facility, variable rate, due December 10, 2024		199,980		—		199,980		—
Derivative liability, net		10,413		—		10,413		—
Settlement payable		254,725		—		254,725		—
Total	$	5,578,491	$	—	$	5,578,491	$	—

(Thousands)	Total		Quoted Prices in Active Markets (Level 1)		Prices with Other Observable Inputs (Level 2)		Prices with Unobservable Inputs (Level 3)
At December 31, 2020
Liabilities
Senior secured notes - 7.875%, due February 15, 2025	$	2,410,313	$	—	$	2,410,313	$	—
Senior secured notes - 6.00%, due April 15, 2023		561,000		—		561,000		—
Senior unsecured notes - 8.25%, due October 15, 2023		1,112,775		—		1,112,775		—
Senior unsecured notes - 7.125%, due December 15, 2024		601,500		—		601,500		—
Exchangeable senior unsecured notes - 4.00%, due June 15, 2024		426,058		—		426,058		—
Senior secured revolving credit facility, variable rate, due April 24, 2022		110,000		—		110,000		—
Derivative liability, net		22,897		—		22,897		—
Settlement payable		418,840		—		418,840		—
Contingent consideration		2,957		—		—		2,957
Total	$	5,666,340	$	—	$	5,663,383	$	2,957

The carrying value of cash and cash equivalents, accounts and other receivables, and accounts, interest and dividends payable approximate fair values due to the short-term nature of these financial instruments.

The total principal balance of our Notes and other debt was $5.18 billion at December 31, 2021, with a fair value of $5.31 billion. The estimated fair value of the Notes and other debt was based on available external pricing data and current market rates for similar debt instruments, among other factors, which are classified as Level 2 inputs within the fair value hierarchy. Derivative instruments are carried at fair value. See Note 10. The fair value of our interest rate swap is determined based on the present value of expected future cash flows using observable, quoted LIBOR swap rates for the full term of the swap and also incorporate credit valuation adjustments to appropriately reflect both Uniti 's own non-performance risk and non-performance risk of the respective counterparties. The Company has determined that the majority of the inputs used to value its derivative instruments fall within Level 2 of the fair value hierarchy; however, the associated credit valuation adjustments utilized Level 3 inputs, such as estimates of credit spreads, to evaluate the likelihood of default by the Company and its counterparties. As of December 31, 2021, the Company has assessed the significance of the impact of the credit valuation adjustments on the overall valuation of its derivative positions and has determined that the credit valuation adjustment is not significant to the overall value of the derivatives. As such, the Company classifies its derivative instruments valuation in Level 2 of the fair value hierarchy.

Given the limited trade activity of the Exchangeable Notes, the fair value of the Exchangeable Notes (see Note 12) is determined based on inputs that are observable in the market and have been classified as Level 2 in the fair value hierarchy. Specifically, we estimated the fair value of the Exchangeable Notes based on readily available external pricing information, quoted market prices, and current market rates for similar convertible debt instruments.

Uniti is required to make a $490.1 million cash payment to Windstream in equal installments over 20 consecutive quarters beginning October 2020, which was the first month after Windstream’s emergence (the “Settlement Payable”) (see Note 16). The Settlement Payable was recorded at fair value, using the present value of future cash flows. The future cash flows are discounted using discount rate input based on observable market data. Accordingly, we classify inputs used as Level 2 in the fair value hierarchy. The remaining Settlement Payable is $239.4 million and is reported as settlement payable on our Consolidated Balance Sheet at December 31, 2021. There have been no changes in the valuation methodologies used since the initial recording.

We acquired Tower Cloud, Inc. (“Tower Cloud”) on August 31, 2016. As part of the Tower Cloud acquisition, we were obligated to pay contingent consideration upon achievement of certain defined operational and financial milestones from the date of acquisition through December 31, 2021. During the three months ended March 31, 2021, the Company paid $3.0 million for the achievement of the final remaining milestone in accordance with the Tower Cloud merger agreement. During the year ended December 31, 2020, we paid $15.7 million for the achievement of certain milestones in accordance with the Tower Cloud merger agreement.

Changes in the fair value of contingent consideration will be recorded in our Consolidated Statements of Income (Loss) in the period in which the change occurs. The final measurement of the contingent consideration was recorded during the three months ended March 31, 2021, resulting in an increase in the fair value of less than $0.1 million. For the year ended December 31, 2020, there was a $7.2 million increase in the fair value of the contingent consideration that was recorded in Other (income) expense on the Consolidated Statements of Income (Loss).

The following is a roll forward of our liability measured at fair value on a recurring basis using unobservable inputs (Level 3):

(Thousands)		December 31, 2020				Transfers into Level 3				(Gain)/Loss included in earnings				Settlements				December 31, 2021
Contingent consideration		$	2,957			$	—			$	22			$	(2,979	)		$	-

Property Plant And Equipment [Abstract]

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Property, Plant and Equipment

12 Months Ended

Dec. 31, 2021

Property, Plant and Equipment

Note 9. Property, Plant and Equipment

The carrying value of property, plant and equipment is as follows:

(Thousands)	Depreciable Lives⁽¹⁾	December 31, 2021			December 31, 2020
Land	Indefinite	$	28,449		$	27,945
Building and improvements	3 - 40 years		359,980			351,305
Poles	30 years		281,130			266,758
Fiber	30 years		4,107,519			3,737,372
Equipment	5 - 7 years		331,761			298,912
Copper	20 years		3,918,281			3,850,987
Conduit	30 years		89,859			89,773
Tower assets	20 years		8,544			8,571
Finance lease assets	See Note 3		72,284			74,103
Construction in progress	See Note 3		27,366			47,086
Other assets	15 - 20 years		10,652			10,553
Corporate assets	3 - 7 years		14,326			13,475
			9,250,151			8,776,840
Less accumulated depreciation			(5,741,212	)		(5,503,487	)
Property, plant and equipment, net		$	3,508,939		$	3,273,353

⁽¹⁾ Certain property acquired from Windstream is depreciated using Windstream's estimated useful lives. Specifically, certain Fiber assets are depreciated using a 20 year life.

Finance lease assets above represent fiber leases, where we have the exclusive, unrestricted, and indefeasible right to use one, a pair, or more strands of fiber of a fiber cable.

Depreciation expense for the years ended December 31, 2021, 2020, and 2019 was $261.2 million, $301.2 million and $377.3 million, respectively.

Derivative Instruments and Hedging Activities

12 Months Ended

Dec. 31, 2021

Derivative Instruments And Hedging Activities Disclosure [Abstract]

Derivative Instruments and Hedging Activities

Note 10. Derivative Instruments and Hedging Activities

The Company uses derivative instruments to mitigate the effects of interest rate volatility inherent in our variable rate debt, which could unfavorably impact our future earnings and forecasted cash flows. The Company does not use derivative instruments for speculative or trading purposes.

On April 27, 2015, we entered into fixed for floating interest rate swap agreements to mitigate the interest rate risk inherent in our variable rate term loan facility. These interest rate swaps were designated as cash flow hedges and have a notional value of $2.00 billion and mature on October 24, 2022. As result of the repayment of the Company’s term loan facility in February of 2020 (see Note 12), the Company entered into receive-fixed interest rate swaps to offset its existing pay-fixed interest rate swaps. As a result, the Company discontinued hedge accounting as the hedge accounting requirements were no longer met. Amounts in accumulated other comprehensive (loss) income as of the date of de-designation, will be reclassified to interest expense as the hedged transactions impact earnings. Prospectively, changes in fair value of all interest rate swaps will be recorded directly to earnings.

The Company has elected to offset derivative positions that are subject to master netting arrangements with the same counterparty in our Consolidated Balance Sheets. The gross amounts of our derivative instruments subject to master netting arrangements with the same counterparty as of December 31, 2021 were as follows:

Offsetting of Derivative Assets and Liabilities (Thousands)	Gross Amounts of Recognized Assets or Liabilities		Gross Amounts Offset in the Consolidated Balance Sheets			Net Amounts of Assets or Liabilities presented in the Consolidated Balance Sheets
Assets
Interest rate swaps	$	10,788	$	(10,788	)	$	-
Total	$	10,788	$	(10,788	)	$	-

Liabilities
Interest rate swaps	$	21,201	$	(10,788	)	$	10,413
Total	$	21,201	$	(10,788	)	$	10,413

The following table summarizes the fair value and the presentation in our Consolidated Balance Sheet:

(Thousands)

Location on Consolidated

Balance Sheet

December 31, 2021

December 31, 2020

Interest rate swaps

Derivative liability, net

10,413

22,897

As of December 31, 2021, all of the interest rate swaps were valued in net unrealized loss positions and recognized as a liability balance within the derivative liability, net on the Consolidated Balance Sheets. The amount reclassified out of other comprehensive income into interest expense on our Consolidated Statements of Income (Loss) for the year ended December 31, 2021 was $11.3 million.

As of December 31, 2020, all of the interest rate swaps were valued in net unrealized loss positions and recognized as a liability balance within the derivative liability, net on the Consolidated Balance Sheets. As hedge accounting is no longer applied beginning in February 2020, the unrealized loss amounts are now being recorded directly to earnings. For the year ended December 31, 2020, the amount recorded in other comprehensive income related to the unrealized loss on derivative instruments prior to the February 2020 discontinuance of hedge accounting was $7.7 million. For the year ended December 31, 2019, the amount recorded in other comprehensive income related to the derivative instruments was $51.3 million unrealized loss. The amount reclassified out of other comprehensive income into interest expense on our Consolidated Statements of Income (Loss) for the years ended December 31,

2020 and 2019 was $10.8 million interest expense and $3.3 million interest benefit, respectively. For the year ended December 31, 2019, there was no ineffective portion of the change in fair value derivatives.

During the next twelve months, beginning January 1, 2022, we estimate that $9.2 million will be reclassified as an increase to interest expense.

Exchangeable Notes Hedge Transactions

On June 25, 2019, concurrently with the pricing of the Exchangeable Notes (see Note 12), and on June 27, 2019, concurrently with the exercise by the Initial Purchasers (as defined below) of their option to purchase additional Exchangeable Notes, Uniti Fiber Holdings Inc., the issuer of the Exchangeable Notes, entered into the Note Hedge Transactions with certain of the Counterparties. The Note Hedge Transactions cover, subject to anti-dilution adjustments substantially similar to those applicable to the Exchangeable Notes, the same number of shares of the Company’s common stock that initially underlie the Exchangeable Notes in the aggregate and are exercisable upon exchange of the Exchangeable Notes. The Note Hedge Transactions have an initial strike price that corresponds to the initial exchange price of the Exchangeable Notes, subject to anti-dilution adjustments substantially similar to those applicable to the Exchangeable Notes. The Note Hedge Transactions will expire upon the maturity of the Exchangeable Notes, if not earlier exercised. The Note Hedge Transactions are intended to reduce potential dilution to the Company’s common stock upon any exchange of the Exchangeable Notes and/or offset any cash payments Uniti Fiber Holdings Inc. is required to make in excess of the principal amount of exchanged Exchangeable Notes, as the case may be, in the event that the market value per share of the Company’s common stock, as measured under the Note Hedge Transactions, at the time of exercise is greater than the strike price of the Note Hedge Transactions.

The Note Hedge Transactions are separate transactions, entered into by Uniti Fiber Holdings Inc. with the Counterparties, and are not part of the terms of the Exchangeable Notes. Holders of the Exchangeable Notes will not have any rights with respect to the Note Hedge Transactions. Uniti Fiber Holdings Inc. used approximately $70.0 million of the net proceeds from the offering of the Exchangeable Notes to pay the cost of the Note Hedge Transactions. The Note Hedge Transactions meet certain accounting criteria under GAAP and are recorded in additional paid-in capital on our Consolidated Balance Sheets, are not accounted for as derivatives that are remeasured each reporting period.

Warrant Transactions

On June 25, 2019, concurrently with the pricing of the Exchangeable Notes, and on June 27, 2019 concurrently with the exercise by the Initial Purchasers of their option to purchase additional Exchangeable Notes, the Company entered into warrant transactions to sell to the Counterparties Warrants to acquire, subject to anti-dilution adjustments, up to approximately 27.8 million shares of the Company’s common stock in the aggregate at an exercise price of approximately $16.42 per share. The maximum number of shares of the Company’s common stock that could be issued pursuant to the Warrants is approximately 55.5 million. The Company offered and sold the Warrants in reliance on the exemption from registration provided by Section 4(a)(2) of the Securities Act of 1933, as amended (the “Securities Act”). If the market value per share of the Company’s common stock, as measured under the Warrants, at the time of exercise exceeds the strike price of the Warrants, the Warrants will have a dilutive effect on the Company’s common stock unless, subject to the terms of the Warrants, the Company elects to cash settle the Warrants. The Warrants will expire over a period beginning in September 2024.

The Warrants are separate transactions, entered into by the Company with the Counterparties, and are not part of the terms of the Exchangeable Notes. Holders of the Exchangeable Notes will not have any rights with respect to the Warrants. The Company received approximately $50.8 million from the offering and sale of the Warrants. The Warrants meet certain accounting criteria under GAAP, and are recorded in additional paid-in capital on our Consolidated Balance Sheets, are not accounted for as derivatives that are remeasured each reporting period.

Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2021

Goodwill And Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

Note 11. Goodwill and Intangible Assets

As part of the transaction with Everstream (see Note 6), we reclassified the associated assets and liabilities held for sale, including $17.8 million of goodwill and $10.7 million of intangible assets as of December 31, 2020.

Changes in the carrying amount of goodwill occurring during the year ended December 31, 2021 and 2020, are as follows:

(Thousands)	Fiber Infrastructure			Total
Goodwill at December 31, 2019	$	690,672		$	690,672
Goodwill impairment (Note 3)		(71,000	)		(71,000	)
Goodwill reclassified to held for sale		(17,794	)		(17,794	)
Goodwill at December 31, 2020		601,878			601,878
Goodwill at December 31, 2021	$	601,878		$	601,878

The carrying value of our other intangible assets is as follows:

(Thousands)	December 31, 2021						December 31, 2020
	Cost			Accumulated Amortization			Cost			Accumulated Amortization
Finite life intangible assets:
Customer lists	$	416,104		$	(105,861	)	$	416,104		$	(82,989	)
Contracts		52,536			(8,209	)		48,269			(1,068	)
Underlying rights		10,497			(437	)		10,497			(87	)

Total intangible assets	$	479,137					$	474,870
Less: accumulated amortization		(114,507	)					(84,145	)
Total intangible assets, net	$	364,630					$	390,725

Finite life intangible liabilities:
Acquired below-market leases	$	191,154		$	(13,368	)	$	190,086		$	(2,200	)

Total intangible liabilities		191,154						190,086
Less: accumulated amortization		(13,368	)					(2,200	)
Total intangible liabilities, net	$	177,786					$	187,886

As of December 31, 2021, the remaining weighted average amortization period of the Company’s intangible assets was 14.9 years. Amortization expense for the years ended December 31, 2021, 2020 and 2019 was $29.8 million, $28.2 million and $27.2 million, respectively. Amortization expense is estimated to be $29.7 million in 2022, $29.8 million in 2023, $29.7. million in 2024, $29.7 million in 2025 and $29.7 million in 2026.

As part of the Asset Purchase Agreement, we recognize the amortization of below-market leases in revenue. Revenue related to the amortization of the below-market leases for the year ended December 31, 2021 was $10.7 million. We recognized no revenue from intangible liabilities for the years ended December 31, 2020, and 2019, respectively. As of December 31, 2021, the remaining weighted average amortization period of the Company’s intangible liabilities was 17.9 years. Revenue due to the amortization of the below-market leases is estimated to be $10.7 million in 2022, $10.7 million in 2023, $10.7 million in 2024, $10.7 million in 2025, and $10.7 million in 2026.

Notes and Other Debt

12 Months Ended

Dec. 31, 2021

Long Term Debt [Abstract]

Notes and Other Debt

Note 12. Notes and Other Debt

All debt, including the senior secured credit facility and notes described below, are obligations of the Operating Partnership and certain of its subsidiaries as discussed below. The Company is, however, a guarantor of such debt.

Notes and other debt is as follows:

(Thousands)	December 31, 2021			December 31, 2020
Principal amount	$	5,175,000		$	4,965,000
Less unamortized discount, premium and debt issuance costs		(84,463	)		(148,476	)
Notes and other debt less unamortized discount and debt issuance costs	$	5,090,537		$	4,816,524

Notes and other debt at December 31, 2021 and 2020 consisted of the following:

	December 31, 2021					December 31, 2020
(Thousands)	Principal		Unamortized Discount, Premium and Debt Issuance Costs			Principal		Unamortized Discount, Premium and Debt Issuance Costs
Senior secured notes - 6.00%, due April 15, 2023 (discount is based on imputed interest rate of 6.49%)	$	-	$	-		$	550,000	$	(4,053	)
Senior secured notes - 7.875%, due February 15, 2025 (discount is based on imputed interest rate of 8.38%)		2,250,000		(31,411	)		2,250,000		(39,852	)
Senior secured notes - 4.75%, due April 15, 2028 (discount is based on imputed interest rate of 5.04%)		570,000		(8,886	)		-		-
Senior unsecured notes - 8.25%, due October 15, 2023 (discount is based on imputed interest rate of 9.06%)		-		-			1,110,000		(22,024	)
Exchangeable senior unsecured notes - 4.00%, due June 15, 2024 (discount is based on imputed interest rate of 4.77%)		345,000		(6,187	)		345,000		(69,608	)
Senior unsecured notes - 7.125%, due December 15, 2024 (discount is based on imputed interest rate of 7.38%)		-		-			600,000		(5,316	)
Senior unsecured notes - 6.50%, due February 15, 2029 (discount is based on imputed interest rate of 6.83%)		1,110,000		(20,797	)		-		-
Senior unsecured notes - 6.00%, due January 15, 2030 (discount is based on imputed interest rate of 6.27%)		700,000		(11,689	)		-		-
Senior secured revolving credit facility, variable rate, due December 10, 2024		200,000		(5,493	)		110,000		(7,623	)
Total	$	5,175,000	$	(84,463	)	$	4,965,000	$	(148,476	)

At December 31, 2021, notes and other debt included the following: (i) $200.0 million under the Revolving Credit Facility (as defined below) pursuant to the credit agreement by and among Uniti Group LP, Uniti Group Finance 2019 Inc. and CSL Capital, LLC (hereinafter, the “Borrowers”), the guarantors and lenders party thereto and Bank of America, N.A., as administrative agent and collateral agent (the “Credit Agreement”); (ii) $2.25 billion aggregate principal amount of 7.875% Senior Secured Notes due 2025 (the “2025 Secured Notes”); (iii) $570.0 million aggregate principal amount of 4.75% Senior Secured Notes due April 15, 2028 (the “2028 Secured Notes”); (iv) $1.11 billion aggregate principal amount of 6.50% Senior Unsecured Notes due February 15, 2029 (the “2029 Notes”); (v) $345 million aggregate principal amount of 4.00% Exchangeable Senior Notes due June 15, 2024 (the “Exchangeable Notes”); and (vi) $700.0 million aggregate principal amount of 6.00% Senior Secured Notes due January 15, 2030 (the “2030 Notes” and collectively with the 2025 Secured Notes, 2028 Secured Notes, 2029 Notes and the Exchangeable Notes, the “Notes”). Until our net leverage ratio is below 5.75:1.00, our 2025 Secured Notes limit our ability to make cash distributions to our shareholders in amounts exceeding 90% of our good faith estimate, as of the date on which the first quarterly dividend for the relevant year is declared, of our REIT taxable income for such year, determined without regard to the dividends paid deduction and excluding any capital gains.

Credit Agreement

The Borrowers are party to the Credit Agreement, which after the Seventh Amendment (as defined below) as of December 31, 2021, provided for a $60.5 million non-extended revolving credit facility that matures on April 24, 2022 (the “Non-Extended Revolving Credit Facility”) and a $500 million revolving credit facility extended that, upon receipt of routine regulatory approvals, will mature on December 10, 2024 (the “Extended Revolving Credit Facility” and together with Non-Extended Revolving Credit facility, the “Revolving Credit Facility”), which provide us with the ability to obtain revolving loans as well as swingline loans and letters of credit from time to time. All obligations under the Credit Agreement are guaranteed by (i) the Company and (ii) certain of the Operating Partnership’s subsidiaries (the “Subsidiary Guarantors”) and are secured by substantially all of the assets of the Borrowers and the Subsidiary Guarantors.

The Borrowers are subject to customary covenants under the Credit Agreement, including an obligation to maintain a consolidated secured leverage ratio, as defined in the Credit Agreement, not to exceed 5.00 to 1.00. We are permitted, subject to customary conditions, to incur other indebtedness, so long as, on a pro forma basis after giving effect to any such indebtedness, our consolidated total leverage ratio, as defined in the Credit Agreement, does not exceed 6.50 to 1.00 and, if such debt is secured, our consolidated secured leverage ratio, as defined in the Credit Agreement, does not exceed 4.00 to 1.00. In addition, the Credit Agreement contains customary events of default, including a cross default provision whereby the failure of the Borrowers or certain of their subsidiaries to make payments under other debt obligations, or the occurrence of certain events affecting those other borrowing arrangements, could trigger an obligation to repay any amounts outstanding under the Credit Agreement. In particular, a repayment obligation could be triggered if (i) the Borrowers or certain of their subsidiaries fail to make a payment when due of any principal or interest on any other indebtedness aggregating $75.0 million or more, or (ii) an event occurs that causes, or would permit the holders of any other indebtedness aggregating $75.0 million or more to cause, such indebtedness to become due prior to its stated maturity. As of December 31, 2021, the Borrowers were in compliance with all of the covenants under the Credit Agreement.

A termination of either Windstream Lease would result in an “event of default” under the Credit Agreement if a replacement lease is not entered into within ninety (90) calendar days and we do not maintain pro forma compliance with a consolidated secured leverage ratio, as defined in the Credit Agreement, of 5.00 to 1.00.

On June 24, 2019, we entered into an amendment (the “Fifth Amendment”) to our Credit Agreement to extend the maturity date of $575.9 million of commitments under the Revolving Credit Facility to April 24, 2022 and to pay down approximately $101.6 million of outstanding revolving loans and terminate the related commitments. The maturity date of approximately $72.4 million of other commitments was not extended. On June 28, 2019, the Company repaid approximately $174.0 million in total borrowings, which consisted of the $101.6 million required repayment pursuant to the Fifth Amendment and $72.4 million of non-extended borrowings, thereby terminating the non-extended commitments. As a result, all remaining $575.9 million of commitments will terminate on April 24, 2022, at which time all outstanding borrowings must be repaid. The Company used a portion of the net proceeds from the offering of Exchangeable Notes described below to fund the repayments.

On February 10, 2020, we received a limited waiver from our lenders under our Credit Agreement, waiving an event of default related solely to the receipt of a going concern opinion from our auditors for our 2019 audited financial statements. The limited waiver was issued in connection with an amendment (the “Sixth Amendment”) to our Credit Agreement.

On December 10, 2020, we entered into an amendment (the “Seventh Amendment”) to our Credit Agreement. Pursuant to the Seventh Amendment, commitments from new and existing lenders under the Revolving Credit Facility have increased to $500 million and, subject to certain conditions, the maturity date of such commitments has been extended to December 10, 2024. Certain non-extending lender commitments of $60.5 million will mature on April 24, 2022 and will continue to bear interest at rates previously in effect. Prior to the expiration of these commitments, the aggregate size of the Revolving Credit Facility will be $560.5 million from all lenders.

Borrowings under (a) the Non-Extended Revolving Credit Facility bear interest at a rate equal to either a base rate plus an applicable margin ranging from 3.75% to 4.25% or a eurodollar rate plus an applicable margin ranging from 4.75% to 5.25% and (b) effective April 17, 2021, following the receipt of certain routine regulatory approvals, the Extended Revolving Credit Facility bear interest at a rate equal to either a base rate plus an applicable margin ranging from 2.75% to 3.50% or a eurodollar rate plus an applicable margin ranging from 3.75% to 4.50%, in each

case, calculated in a customary manner and determined based on our consolidated secured leverage ratio. We are required to pay a quarterly commitment fee under the Revolving Credit Facility equal to 0.50% of the average amount of unused commitments during the applicable quarter (subject to a step-down to 0.40% per annum of the average amount of unused commitments during the applicable quarter upon achievement of a consolidated secured leverage ratio not to exceed a certain level), as well as quarterly letter of credit fees equal to the product of (A) the applicable margin with respect to eurodollar borrowings and (B) the average amount available to be drawn under outstanding letters of credit during such quarter.

The Notes

Secured Notes

The Operating Partnership, CSL Capital, LLC, Uniti Group Finance 2019 Inc. and Uniti Fiber Holdings Inc. (collectively, the “Issuers”), have outstanding $2.25 billion aggregate principal amount of the 2025 Secured Notes, which were issued on February 10, 2020. The 2025 Secured Notes mature on February 15, 2025 and bear interest at a rate of 7.875% per year. Interest on the 2025 Secured Notes is payable on February 15 and August 15 of each year.

On April 20, 2021, the Borrowers issued $570 million aggregate principal amount of the 2028 Secured Notes (together with the 2025 Secured Notes, the “Secured Notes”) and used the net proceeds from the offering to fund the redemption in full of the $550.0 million aggregate principal amount of 6.00% Senior Secured Notes due April 15, 2023 (the “2023 Secured Notes”) on May 6, 2021. During the three months ended June 30, 2021, we recognized a $4.3 million loss on the extinguishment of the 2023 Secured Notes within interest expense, net on the Condensed Consolidated Statements of Income (Loss), which included $1.3 million of non-cash interest expense for the write off of the unamortized discount and deferred financing costs and $3.0 million of cash interest expense for the redemption premium. The 2028 Secured Notes mature on April 15, 2028 and bear interest at a rate of 4.750% per year. Interest on the 2028 Secured Notes is payable on April 15 and October 15 of each year.

The Secured Notes and the related guarantees are secured by liens on substantially all of the assets of the issuers and guarantors thereto, which assets also ratably secure obligations under the senior secured credit facilities, in each case, subject to certain exceptions and permitted liens. The collateral does not include real property (below a specified threshold of value), but includes certain fixtures and other equipment as well as cash that we receive pursuant the Windstream Leases.

The indentures governing the Secured Notes contain customary high yield covenants limiting the ability of Uniti Group LP and its restricted subsidiaries to: incur or guarantee additional indebtedness; incur or guarantee secured indebtedness; pay dividends or distributions on, or redeem or repurchase, capital stock; make certain investments or other restricted payments; sell assets; enter into transactions with affiliates; merge or consolidate or sell all or substantially all of their assets; and create restrictions on the ability to pay dividends or other amounts to the Borrowers or Issuers, as applicable. These covenants are subject to a number of limitations, qualifications and exceptions. Further, until our net leverage ratio is below 5.75 : 1.00, the 2025 Secured Notes limit our ability to make cash distributions to our shareholders in amounts exceeding 90% of our good faith estimate, as of the date on which the first quarterly dividend for the relevant year is declared, of our REIT taxable income for such year, determined without regard to the dividends paid deduction and excluding any capital gains. The indentures governing the Secured Notes also contain customary events of default. As of December 31, 2021, the Company was in compliance with all of the covenants under the indentures governing the Secured Notes.

Senior Unsecured Notes

On February 2, 2021, the Borrowers issued $1.11 billion aggregate principal of the 2029 Notes and used the net proceeds to fund the tender offer and subsequent redemption of all outstanding 8.25% Senior Unsecured Notes due October 15, 2023 (the “2023 Notes”). During the year ended December 31, 2021, we recognized a $39.1 million loss on the tendered 2023 Notes within interest expense, net on the Consolidated Statements of Income (Loss), which included $21.5 million of non-cash interest expense for the write off of the unamortized discount and deferred financing costs and $17.6 million of cash interest expense for the tender premium. The 2029 Notes mature on February 15, 2029 and bear interest at a rate of 6.50% per year. Interest on the 2029 Notes is payable on February 15 and August 15 of each year.

On October 13, 2021, the Issuers issued $700.0 million aggregate principal amount of the 2030 Senior (together with the 2029 Notes, the “Senior Unsecured Notes”) and used the net proceeds to fund redemption in full of the $600.0 million 7.125% Senior Unsecured Notes due December 15, 2024 (the “2024 Notes”) on December 15, 2021. During the year ended December 31, 2021, we recognized a $5.9 million loss on the extinguishment of the 2024 Notes within interest expense, net on the Consolidated Statements of Income (Loss), which included $1.8 million of non-cash interest expense for the write off of the unamortized discount and deferred financing costs and $4.1 million of cash interest expense for the redemption premium. The Company used the remaining proceeds of $78.0 million to prepay a portion of the settlement obligations under the settlement agreement with Windstream. See Note 16. The 2030 Notes mature on January 15, 2030 and bear interest at a rate of 6.000% per year. Interest on the 2030 Notes is payable on January 15 and July 15 of each year, beginning on July 15, 2022.

The indentures governing the Senior Unsecured Notes contain customary high yield covenants limiting the ability of Uniti Group LP and its restricted subsidiaries to: incur or guarantee additional indebtedness; incur or guarantee secured indebtedness; pay dividends or distributions on, or redeem or repurchase, capital stock; make certain investments or other restricted payments; sell assets; enter into transactions with affiliates; merge or consolidate or sell all or substantially all of their assets; and create restrictions on the ability to pay dividends or other amounts to the Issuers or Borrowers, as applicable. These covenants are subject to a number of important and significant limitations, qualifications and exceptions. The indentures governing the Senior Unsecured Notes also contain customary events of default. As of December 31, 2021, the Company was in compliance with all of the covenants under the indentures governing the Senior Unsecured Notes.

The Notes are fully and unconditionally guaranteed, jointly and severally, on a senior unsecured basis by the Company and by each of Uniti Group LP’s existing and future domestic restricted subsidiaries (other than the Borrowers or Issuers, as applicable) that guarantees indebtedness under the Company’s senior secured credit facilities. The guarantees are subject to release under specified circumstances, including certain circumstances in which such guarantees may be automatically released without the consent of the holders of the Notes.

The Exchangeable Notes

On June 28, 2019, Uniti Fiber Holdings Inc., a subsidiary of the Company, issued $345 million aggregate principal amount of the Exchangeable Notes. The Exchangeable Notes are senior unsecured notes and are guaranteed by the Company and each of the Company’s subsidiaries (other than Uniti Fiber Holdings Inc.) that is an issuer, obligor or guarantor under the Company’s Notes. The Exchangeable Notes bear interest at a fixed rate of 4.00% per year, payable semiannually in arrears on June 15 and December 15 of each year, beginning on December 15, 2019. The Exchangeable Notes are exchangeable into cash, shares of the Company’s common stock, or a combination thereof, at Uniti Fiber Holdings Inc.’s election, subject to limitations under the Company's Credit Agreement. The Exchangeable Notes will mature on June 15, 2024, unless earlier exchanged, redeemed or repurchased.

Uniti Fiber Holdings Inc. issued the Exchangeable Notes pursuant to an indenture, dated as of June 28, 2019 (the “Indenture”), among Uniti Fiber Holdings Inc., the Company, the other guarantors party thereto and Deutsche Bank Trust Company Americas, as trustee. Prior to the close of business on the business day immediately preceding March 15, 2024, the Exchangeable Notes are exchangeable only upon satisfaction of certain conditions and during certain periods described in the Indenture, and thereafter, the Exchangeable Notes are exchangeable at any time until the close of business on the second scheduled trading day immediately preceding the maturity date. The Exchangeable Notes are exchangeable on the terms set forth in the Indenture into cash, shares of the Company’s common stock, or a combination thereof, at Uniti Fiber Holdings Inc.’s election, subject to limitations under the Company's Credit Agreement. The exchange rate is initially 80.4602 shares of the Company’s common stock per $1,000 principal amount of Exchangeable Notes (equivalent to an initial exchange price of approximately $12.43 per share of the Company’s common stock). The exchange rate is subject to adjustment in some circumstances as described in the Indenture. In addition, following certain corporate events that occur prior to the maturity date or Uniti Fiber Holdings Inc.’s delivery of a notice of redemption, Uniti Fiber Holdings Inc. will increase, in certain circumstances, the exchange rate for a holder who elects to exchange its Exchangeable Notes in connection with such corporate event or notice of redemption, as the case may be.

If Uniti Fiber Holdings Inc. or the Company undergoes a fundamental change (as defined in the Indenture), subject to certain conditions, holders may require Uniti Fiber Holdings Inc. to repurchase for cash all or part of their Exchangeable Notes at a repurchase price equal to 100% of the principal amount of the Exchangeable Notes to be repurchased, plus accrued and unpaid interest, if any, to, but not including, the fundamental change repurchase date.

Uniti Fiber Holdings Inc. may redeem all or a portion of the Exchangeable Notes, at any time, at a cash redemption price equal to 100% of the principal amount of the Exchangeable Notes to be redeemed, plus accrued and unpaid interest to, but not including, the redemption date, if the Company’s board of directors determines such redemption is necessary to preserve the Company's status as a real estate investment trust for U.S. federal income tax purposes. Uniti Fiber Holdings Inc. may not otherwise redeem the Exchangeable Notes prior to June 20, 2022. On or after June 20, 2022 and prior to the 42nd scheduled trading day immediately preceding the maturity date, if the last reported sale price per share of the Company’s common stock has been at least 130% of the exchange price for the Exchangeable Notes for certain specified periods, Uniti Fiber Holdings Inc. may redeem all or a portion of the Exchangeable Notes at a cash redemption price equal to 100% of the principal amount of the Exchangeable Notes to be redeemed plus accrued and unpaid interest to, but not including, the redemption date.

On June 28, 2019, Uniti Fiber Holdings Inc., the Company and Barclays Capital Inc., on behalf of the initial purchasers involved in the offering of the Exchangeable Notes (the “Initial Purchasers”), entered into a registration rights agreement with respect to the Company’s common stock deliverable upon exchange of the Exchangeable Notes (the “Registration Rights Agreement”). Under the Registration Rights Agreement, the Company has agreed to file a shelf registration statement to register the resale of the common stock of the Company deliverable upon exchange of the Exchangeable Notes. The Company agreed to use its commercially reasonable efforts to cause such shelf registration statement to become effective on or prior to the 365th day after the issue date of the Exchangeable Notes.

Under GAAP, certain convertible debt instruments that may be settled in cash upon conversion are required to be separately accounted for as liability and equity components of the instrument in a manner that reflects the issuer’s non-convertible debt borrowing rate. Accordingly, in accounting for the issuance of the Exchangeable Notes, the Company separated the Exchangeable Notes into liability and equity components. The carrying amount of the liability component was calculated by measuring the fair value of a similar liability that does not have an associated convertible feature.

The carrying amount of the equity component, which was recognized as a debt discount, represents the difference between the proceeds from the issuance of the Exchangeable Notes and the fair value of the liability component of the Exchangeable Notes. The excess of the principal amount of the liability component over its carrying amount will be amortized to interest expense using an effective interest rate of 11.1% over the term of the Exchangeable Notes. The equity component is not remeasured as long as it continues to meet the conditions for equity classification.

Debt issuance costs related to the Exchangeable Notes were comprised of commissions payable to the Initial Purchasers of $10.4 million and third-party costs of approximately $1.4 million.

In accounting for the debt issuance costs related to the issuance of the Exchangeable Notes, the Company allocated the total amount incurred to the liability and equity components based on their relative values. Debt issuance costs attributable to the liability component were recorded as a contra-liability and are presented net against the Exchangeable Notes balance on our Consolidated Balance Sheets. These costs are amortized to interest expense using the effective interest method over the term of the Exchangeable Notes. Debt issuance costs of $2.9 million attributable to the equity component are netted with the equity component in stockholders’ equity, which netted to $80.8 million.

As a result of early adopting ASU 2020-06, the Company made certain adjustments to its accounting for the outstanding exchangeable senior unsecured notes. The adoption of ASU 2020-06 resulted in the re-combination of the liability and equity components of these notes into a single liability instrument. The carrying value as of December 31, 2020, totaled approximately $275.4 million and as a result of the adoption increased by $61.1 million to $336.5 million as of January 1, 2021. Because of this adoption, the effective interest rate on the exchangeable senior unsecured notes went from 11.1% to 4.8%. Additional paid-in-capital was reduced by $59.9 million and

deferred tax liabilities were reduced by $15.8 million. Approximately $14.6 million of cumulative effect of adoption was recognized to the opening balance of retained earnings as of January 1, 2021. See Note 3.

Deferred Financing Cost

Deferred financing costs were incurred in connection with the issuance of the Notes and the Facilities. These costs are amortized using the effective interest method over the term of the related indebtedness, and are included in interest expense in our Consolidated Statements of Income (Loss). For the year ended December 31, 2021, 2020 and 2019, we recognized $16.5 million, $15.3 million and $16.2 million of non-cash interest expense, respectively, related to the amortization of deferred financing costs.

Aggregate annual maturities of our long-term obligations at December 31, 2021 are as follows:

(Thousands)
2022	$	-
2023		-
2024		545,000
2025		2,250,000
2026		-
Thereafter		2,380,000
Total	$	5,175,000

Stock-Based Compensation

12 Months Ended

Dec. 31, 2021

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Stock-Based Compensation

Note 13. Stock-Based Compensation

The Company’s Board of Directors adopted the Uniti Group Inc. 2015 Equity Incentive Plan (the “Equity Plan”), which is administered by the Compensation Committee of the Board of Directors. Awards issuable under the Equity Plan include incentive stock options, “non-qualified” stock options, stock appreciation rights, performance units and performance shares, restricted shares, and restricted stock units.

Restricted Awards

During the year ended December 31, 2021, the Company granted 691,241 shares of restricted stock to employees, which had a fair value of $8.2 million as of the date of grant. We calculate the grant date fair value of non-vested shares of restricted stock awards using the closing sale prices on the trading day on the grant date. The restricted stock awards are amortized on a straight-line basis to expense over the vesting period, which is generally three years. As of December 31, 2021, there were 2,676,776 shares available for future issuance under the Equity Plan. The following table sets forth the number of unvested restricted stock awards and the weighted-average fair value of these awards at the date of grant:


	Restricted Awards			Weighted Average Fair Value at Grant Date		Aggregate Intrinsic Value⁽¹⁾($000s)
Unvested balance December 31, 2020		1,561,415		$	12.33
Granted		691,241		$	11.82
Forfeited		(133,061	)	$	11.36
Vested		(765,622	)	$	12.95
Unvested balance, December 31, 2021		1,353,973		$	11.58	$	18,969

⁽¹⁾

The aggregate intrinsic value is calculated as the market value of our common stock as of December 31, 2021. The market value as of December 31, 2021 was $14.01 per share, which was the closing price of our common stock reported for transactions effected on the NASDAQ Global Select Market on December 31, 2021, the final trading day of 2021.

During the year ended December 31, 2020, there were 996,037 shares of restricted stock granted with a weighted-average fair value of $10.39 per share. During the year ended December 31, 2019, there were 833,448 shares of restricted stock granted with a weighted-average fair value of $11.62 per share.

The total fair value of shares vested for the years ended December 31, 2021, 2020 and 2019 was $9.9 million, $8.6 million and $6.4 million, respectively.

As of December 31, 2021, total unrecognized compensation expense on restricted awards was approximately $8.6 million, and the expense is expected to be recognized over a weighted average vesting period of 0.8 years.

Performance Awards

The Company grants long-term incentives to members of management in the form of performance-based restricted stock units (“PSUs”) under the Equity Plan. The number of PSUs earned is based on the Company’s achievement of specified performance goals, over a specified performance period, and may range from 0% to 200% of the target shares. The PSUs have a service condition that will expire at the end of the three-year performance period provided that the holder continues to be employed by the Company at the end of the performance period. Holders of PSUs are entitled to dividend equivalents, which will be accrued and paid in cash upon the vesting of a PSU. Dividend equivalents are forfeited to the extent that the underlying PSU is forfeited.

On February 24, 2021, we issued 216,085 PSUs equal to 100% of the target amount, with an aggregate fair value of $3.5 million on the grant date. The PSUs, in addition to a service condition, are subject to the Company’s performance versus the total return of the MSCI US REIT Index and a triple-net lease peer group, as defined by the Compensation Committee. Upon evaluating the results of the market conditions, the final number of shares is determined, and such shares vest based on satisfaction of the service condition. The PSUs are amortized on a straight-line basis over the vesting period. During the year ended December 31, 2021, 75,463 PSUs were forfeited due to termination of service. The following table sets forth the number of unvested PSUs and the weighted-average fair value of these awards at the date of grant:

	Performance Awards			Weighted Average Fair Value at Grant Date		Aggregate Intrinsic Value⁽¹⁾($000s)
Unvested balance December 31, 2020		706,570		$	17.64
Granted		216,085		$	16.27
Forfeited		(75,463	)	$	16.96
Vested		(224,077	)	$	18.96
Unvested balance, December 31, 2021		623,115		$	16.78	$	8,730

⁽¹⁾

During the year ended December 31, 2020, there were 322,209 PSUs granted with a weighted-average fair value of $15.45 per share. During the year ended December 31, 2019, there were 255,517 PSUs granted with a weighted-average fair value of $18.99 per share.

As of December 31, 2021, total unrecognized compensation expense related to PSUs was approximately $3.9 million, and the weighted-average vesting period was 1.2 years. The fair value of each PSU award is estimated at the date of grant using a Monte Carlo simulation. The simulation requires assumptions for expected volatility, risk-free return, and dividend yield. Our assumptions include a 0% dividend yield, which is the mathematical equivalent to reinvesting the dividends over the three-year performance period as is consistent with the terms of the PSUs. The following table summarizes the assumptions used to value the PSUs granted during the years ended December 31, 2021, 2020 and 2019:

	Year Ended December 31,
	2021			2020			2019
Expected term (years)		3.0			3.0			3.0
Expected volatility		57.1	%		63.0	%		57.5	%
Expected annual dividend		0.0	%		0.0	%		0.0	%
Risk free rate		0.2	%		0.7	%		2.3	%

Employee Stock Purchase Plan

On May 17, 2018, our stockholders approved and adopted the Uniti Group Inc. Employee Stock Purchase Plan (the “ESPP”). The ESPP authorizes us to issue up to 2,000,000 shares of our common stock to any of our employees so long as the employee is employed on the first day of the applicable offering period. Under the ESPP, there are two six-month plan periods during each calendar year, one beginning January 1 and ending on June 30, and one beginning on July 1 and ending on December 31. Under the terms of the ESPP, employees can choose each plan period to have up to 15% of their annual base earnings, limited to $25,000 withheld to purchase our common stock. The purchase price of the stock is 85% of the lower of its beginning-of-period or end-of-period market price. Under the ESPP the Company issued 74,950, 96,788 and 83,287 shares during the years ended December 31, 2021, 2020 and 2019, respectively. As of December 31, 2021, there were 1,744,975 shares available for future issuance under the ESPP. The following table summarizes the assumptions used to value the purchase rights granted under the ESPP during the years ended December 31, 2021, 2020 and 2019:

	Year Ended December 31,
	2021			2020			2019
Expected term (years)		0.5			0.5			0.5
Expected volatility		28.0	%		72.0	%		24.0	%
Expected annual dividend		5.5	%		3.9	%		2.1	%
Risk free rate		0.1	%		0.2	%		2.1	%

For the years ended December 31, 2021, 2020 and 2019, we recognized $13.8 million, $13.7 million and $10.8 million, respectively, of compensation expense related to restricted stock awards, performance-based awards and the ESPP, which is recorded in general and administrative expense on our Consolidated Statements of Income (Loss).

Earnings Per Share

12 Months Ended

Dec. 31, 2021

Earnings Per Share [Abstract]

Earnings Per Share

Note 14. Earnings Per Share

Our restricted stock awards are considered participating securities as they receive non-forfeitable rights to dividends at the same rate as common stock. As participating securities, we included these instruments in the computation of earnings per share under the two-class method described in FASB ASC 260, Earnings per Share.

We also issue PSUs that contain forfeitable rights to receive dividends and are therefore considered non-participating restrictive shares and are not dilutive under the two-class method until performance conditions are met. During the year ended December 31, 2020, approximately 707,000 PSUs were excluded from the computation of diluted net loss per share because their effect is anti-dilutive as a result of our net loss for the period. During the year ended December 31, 2019, approximately 517,000 PSUs were excluded from the computation of diluted earnings per share because the performance conditions had not been met.

Prior to the second quarter of 2019, the earnings-per-share impact of the Company’s 3% Series A Convertible Preferred Stock, $0.0001 par value (the “Series A Shares”) (See Note 20), issued in connection with the May 2, 2016 acquisition of PEG Bandwidth, LLC, was calculated using the net share settlement method, whereby the redemption value of the instrument is assumed to be settled in cash and only the conversion premium, if any, is assumed to be settled in shares. The Series A Shares provided Uniti the option to settle the instrument in cash or shares. During the second quarter of 2019, the Company received notice from the holder of the Series A Shares of its election to convert all its shares, and the Company made an election to issue shares upon conversion, which occurred on July 2, 2019. As a result, the earnings-per-share impact for the year ended December 31, 2019 is calculated based on the shares outstanding from the issuance date through December 31, 2019.

The dilutive effect of the Exchangeable Notes (see Note 12) is calculated by using the “if-converted” method. This assumes an add-back of interest, net of income taxes, to net income attributable to shareholders as if the securities were converted at the beginning of the reporting period (or at time of issuance, if later) and the resulting common shares included in the number of weighted average shares. The dilutive effect of the Warrants (see Note 10) is calculated using the treasury-stock method. During the years ended December 31, 2021, 2020 and 2019, the Warrants were excluded from diluted shares outstanding because the exercise price exceeded the average market price of our common stock for the reporting period.

The following sets forth the computation of basic and diluted earnings per share under the two-class method:

	Year Ended December 31,
(Thousands, except per share data)	2021			2020			2019
Basic earnings per share:
Numerator:
Net income (loss) attributable to shareholders	$	123,660		$	(706,301	)	$	10,582
Less: Income allocated to participating securities		(1,077	)		(1,078	)		(549	)
Dividends declared on convertible preferred stock		(10	)		(9	)		(656	)
Amortization of discount on convertible preferred stock		—			—			(993	)
Net income (loss) attributable to common shares	$	122,573		$	(707,388	)	$	8,384
Denominator:
Basic weighted-average common shares outstanding		232,888			203,600			187,358
Basic earnings (loss) per common share	$	0.53		$	(3.47	)	$	0.04


	Year Ended December 31,
(Thousands, except per share data)	2021			2020			2019
Diluted earnings per share:
Numerator:
Net income (loss) attributable to shareholders	$	123,660		$	(706,301	)	$	10,582
Less: Income allocated to participating securities		(1,077	)		(1,078	)		(549	)
Dividends declared on convertible preferred stock		(10	)		(9	)		(656	)
Amortization of discount on convertible preferred stock		—			—			(993	)
Impact on if-converted dilutive securities		11,926			—			—
Net income (loss) attributable to common shares	$	134,499		$	(707,388	)	$	8,384
Denominator:
Basic weighted-average common shares outstanding		232,888			203,600			187,358
Impact on if-converted dilutive securities		30,809			—			—
Effect of dilutive non-participating securities		380			—			—
Weighted-average shares for dilutive earnings per common share		264,077			203,600			187,358
Dilutive earnings (loss) per common share	$	0.51		$	(3.47	)	$	0.04

Segment Information

12 Months Ended

Dec. 31, 2021

Segment Reporting [Abstract]

Segment Information

Note 15. Segment Information

Historically our management, including our chief executive officer, who is our chief operating decision maker, managed our operations as four operating business segments in addition to our corporate operations, as described

below. Due to the sale of our towers business and wind down of the Consumer CLEC Business, effective January 1, 2021, we will manage our operations focused on our two primary businesses, Leasing and Fiber Infrastructure.

Leasing: Represents a component of our REIT operations and includes the results from our leasing business, Uniti Leasing, which is engaged in the acquisition and construction of mission-critical communications assets and leasing them back to anchor customers on either an exclusive or shared-tenant basis, in addition to the leasing of dark fiber on our existing dark fiber network assets that we either constructed or acquired.

Fiber Infrastructure: Represents the operations of our fiber business, Uniti Fiber, which is a leading provider of infrastructure solutions, including cell site backhaul and dark fiber, to the telecommunications industry.

Towers: Represents the operations of our former towers business, Uniti Towers, through which we acquired and constructed tower and tower-related real estate and leased space on communications towers to wireless service providers and other tenants in the United States and Latin America. The Company completed a series of transactions to largely divest of its towers business: on April 2, 2019, May 23, 2019 and June 1, 2020, the Company completed the sales of its Latin American business, substantially all of its U.S. ground lease business, and its U.S. tower business, respectively.

Consumer CLEC: Represents the operations of Talk America through which we operated the Consumer CLEC business, which prior to Uniti’s separation and spin-off from Windstream (the “Spin-Off”) was reported as an integrated operation within Windstream. Talk America provided local telephone, high-speed internet and long-distance services to customers in the eastern and central United States. As of the end of the second quarter of 2020, we substantially completed a wind down of our Consumer CLEC business.

Corporate: Represents our corporate office and shared service functions. Certain costs and expenses, primarily related to headcount, insurance, professional fees and similar charges, that are directly attributable to operations of our business segments are allocated to the respective segments.

Management evaluates the performance of each segment using Adjusted EBITDA, which is a segment performance measure we define as net income determined in accordance with GAAP, before interest expense, provision for income taxes, depreciation and amortization, stock-based compensation expense and the impact, which may be recurring in nature, of transaction and integration related costs, costs associated with Windstream’s bankruptcy, costs associated with litigation claims made against us, costs associated with the implementation of our enterprise resource planning system, executive severance costs, costs related to the settlement with Windstream, amortization of non-cash rights-of-use assets, the write off of unamortized deferred financing costs, costs incurred as a result of the early repayment of debt, including early tender and redemption premiums and costs associated with the termination of related hedging activities, gains or losses on dispositions, changes in the fair value of contingent consideration and financial instruments, and other similar or infrequent items (although we may not have had such charges in the periods presented). Adjusted EBITDA includes adjustments to reflect the Company’s share of Adjusted EBITDA from unconsolidated entities. The Company believes that net income, as defined by GAAP, is the most appropriate earnings metric; however, we believe that Adjusted EBITDA serves as a useful supplement to net income because it allows investors, analysts and management to evaluate the performance of our segments in a manner that is comparable period over period. Adjusted EBITDA should not be considered as an alternative to net income as determined in accordance with GAAP.

Selected financial data related to our segments is presented below for the years ended December 31, 2021, 2020 and 2019:

	Year Ended December 31, 2021
(Thousands)	Leasing		Fiber Infrastructure		Towers		Consumer CLEC		Corporate			Total of Reportable Segments
Revenues	$	801,497	$	299,025	$	-	$	-	$	-		$	1,100,522

Adjusted EBITDA	$	784,061	$	118,452	$	-	$	-	$	(24,232	)	$	878,281
Less:
Interest expense, net													446,296
Depreciation and amortization		174,622		116,065		-		-		255			290,942
Other, net													24,917
Transaction related and other costs													7,544
Gain on sale of operations													(28,143	)
Gain on sale of real estate													(442	)
Stock-based compensation													13,847
Income tax benefit													(4,916	)
Adjustments for equity in earnings from unconsolidated entities													3,491
Net income												$	124,745

Capital expenditures ⁽¹⁾	$	223,251	$	162,463	$	-	$	-	$	141		$	385,855

	Year Ended December 31, 2020
(Thousands)	Leasing		Fiber Infrastructure		Towers		Consumer CLEC			Corporate			Total of Reportable Segments
Revenues	$	745,915	$	314,363	$	6,112	$	651		$	-		$	1,067,041

Adjusted EBITDA	$	737,337	$	112,289	$	77	$	(545	)	$	(30,323	)	$	818,835
Less:
Interest expense, net														497,128
Depreciation and amortization		201,321		126,211		783		791			297			329,403
Other, net														11,703
Settlement expense														650,000
Goodwill impairment														71,000
Transaction related and other costs														63,875
Gain on sale of real estate														(86,267	)
Stock-based compensation														13,721
Income tax benefit														(15,203	)
Adjustments for equity in earnings from unconsolidated entities														2,287
Net loss													$	(718,812	)

Capital expenditures ⁽¹⁾	$	169,306	$	197,023	$	24,162	$	-		$	-		$	390,491

	Year Ended December 31, 2019
(Thousands)	Leasing		Fiber Infrastructure		Towers			Consumer CLEC		Corporate			Total of Reportable Segments
Revenues	$	716,640	$	315,605	$	14,693		$	10,673	$	-		$	1,057,611

Adjusted EBITDA	$	711,119	$	126,754	$	(595	)	$	1,955	$	(26,494	)	$	812,739
Less:
Interest expense, net														390,112
Depreciation and amortization		282,107		114,566		6,474			1,879		728			405,754
Other, net														(24,219	)
Transaction related and other costs														43,708
Gain on sale of real estate														(28,995	)
Stock-based compensation														10,808
Income tax expense														4,663
Net income													$	10,908

Capital expenditures ⁽¹⁾	$	338,543	$	233,506	$	99,234		$	-	$	15		$	671,298

(1)	Segment capital expenditures represents capital expenditures, the Windstream Asset Purchase Agreement and Bluebird asset acquisition (see Note 6) as reported in the investing activities section of the Consolidated Statements of Cash Flows.

Total assets by business segment as of December 31, 2021 and December 31, 2020 are as follows:

	December 31,
(Thousands)		2021		2020
Leasing	$	2,521,406	$	2,295,289
Fiber Infrastructure		2,249,860		2,354,569
Corporate		37,977		73,253
Consumer CLEC		-		8,707
Total of reportable segments	$	4,809,243	$	4,731,818

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8924-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8981-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9031-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 26
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8844-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9038-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9054-108599

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8657-108599

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI http://asc.fasb.org/topic&trid=2134510

Commitments And Contingencies Disclosure [Abstract]

Commitments and Contingencies

12 Months Ended

Dec. 31, 2021

Commitments and Contingencies

Note 16. Commitments and Contingencies

Litigation

In the ordinary course of our business, we are subject to claims and administrative proceedings, none of which we believe are material or would be expected to have, individually or in the aggregate, a material adverse effect on our business, financial condition, cash flows or results of operations.

On July 25, 2019, in connection with Windstream’s bankruptcy, Windstream Holdings and Windstream Services, LLC (“Windstream Services”) filed a complaint with the Bankruptcy Court in an adversary proceeding against Uniti and certain of its affiliates, alleging, among other things, that the Master Lease should be recharacterized as a financing arrangement, that certain rent payments and TCIs made by Windstream under the Master Lease constitute constructive fraudulent transfers, that the Master Lease is a lease of personal property and that Uniti breached certain of its obligations under the Master Lease. On March 2, 2020, Uniti and Windstream jointly announced that they agreed to the Settlement (as defined below) to resolve any and all claims and causes of action that have been or may be asserted against Uniti by Windstream, including all litigation brought by Windstream and certain of its creditors in the context of Windstream’s bankruptcy, and on May 12, 2020, the Bankruptcy Court entered an order approving Windstream’s assumption of the Master Lease as part of the Settlement. As a result, during the second quarter of 2020, we estimated that $650.0 million of the consideration paid to Windstream should be classified as settlement of litigation, and therefore, recorded a $650.0 million charge. The charge represented our estimated fair value of the litigation settlement component of the Settlement.

On September 21, 2020, Windstream emerged from bankruptcy following its voluntary petition for relief under Chapter 11 of the Bankruptcy Code. In connection with Windstream’s emergence from bankruptcy, Uniti entered into several agreements and consummated the transactions, each as described herein, to implement its settlement (the “Settlement”) with Windstream pursuant to the settlement agreement (the “Settlement Agreement”) dated as of May 12, 2020 between Uniti and Windstream. Pursuant to the Settlement, Uniti and Windstream agreed to mutual releases with respect to any and all liability related to any claims and causes of action between them, including those brought by Windstream and certain of its creditors relating to Windstream’s Chapter 11 proceedings and the Master Lease.

On May 26, 2020, UMB Bank, National Association and U.S. Bank National Association, in their respective capacities as indenture trustees of Windstream’s bonds filed a notice of appeal in the United States District Court for the Southern District of New York from the bankruptcy court’s May 12, 2020 order approving the settlement. On July 20, 2020, UMB Bank, National Association withdrew from the appeal. The appeal was fully briefed on September 10, 2020. The district court has not yet issued a ruling on the appeal.

On January 8, 2021, Windstream filed in the bankruptcy court a stipulation and order dismissing the adversary proceeding against Uniti with prejudice subject to the terms set forth in the parties’ settlement agreement. The stipulation and order was entered by the bankruptcy court on January 25, 2021.

On June 22, 2021, the district court dismissed the appeal of the bankruptcy court’s order approving the settlement as equitably moot. On July 26, 2021, U.S. Bank National Association filed a notice of appeal in the United States Court of Appeals for the Second Circuit from the district court’s order. U.S. Bank filed its brief on November 21, 2021 and

Windstream and intervenor-appellee Elliott Investment Management L.P. filed their briefs on January 28, 2022. U.S. Bank National Association filed its reply brief on February 18, 2022.

Under the Settlement Agreement, in addition to completing the transactions and executing the Windstream Leases (see Note 5), Uniti is required to make quarterly cash payments of $24.5 million to Windstream over 20 consecutive quarters beginning in October 2020, and Uniti may prepay any installments falling due on or after the first anniversary of the Settlement’s effective date (discounted at a 9% rate). This obligation has been recorded at its initial fair value of $438.6 million and is reported as settlement payable on our Consolidated Balance Sheet at December 31, 2020. The difference between the initial fair value of the obligation and total undiscounted cash payments, $490.1 million, will be recognized as interest expense within our Consolidated Statements of Income (Loss) at an effective rate of 4.7%.

On October 14, 2021, the Company prepaid four installments for a total of $92.9 million, $78.0 million of which was funded from a portion of the proceeds of the 2030 Notes (see Note 12). As of December 31, 2021, the Company has made payments totaling $215.4 million.

Further, we are obligated to reimburse Windstream for up to an aggregate of $1.75 billion for certain growth capital improvements in long-term value accretive fiber and related assets made by Windstream (“Growth Capital Improvements”) through 2029. Uniti’s reimbursement commitment for Growth Capital Improvements does not require Uniti to reimburse Windstream for maintenance or repair expenditures (except for costs incurred for fiber replacements to the property leased under the competitive local exchange carrier master lease agreement, up to $70 million during the term), and each such reimbursement is subject to underwriting standards. Uniti’s total annual reimbursement commitments for the Growth Capital Improvements under both Windstream Leases (and under separate equipment loan facilities) are limited to $225 million per year in 2021 through 2024; $175 million per year in 2025 and 2026; and $125 million per year in 2027 through 2029. If the cost incurred by Windstream (or the successor tenant under a Windstream Lease) for Growth Capital Improvements in any calendar year exceeds the annual limit for such calendar year, Windstream (or such tenant, as the case may be) may submit such excess costs for reimbursement in any subsequent year and such excess costs shall be funded from the annual commitment amounts in such subsequent period. In addition, to the extent that reimbursements for Growth Capital Improvements funded in any calendar year during the term is less than the annual limit for such calendar year, the unfunded amount in any calendar year will carry-over and may be added to the annual limits for subsequent calendar years, subject to an annual limit of $250 million in any calendar year, except that, during calendar year 2021, our combined total obligation to fund Growth Capital Improvements may exceed $250 million to the extent of any unfunded excess amounts from calendar year 2020. Accordingly, because we funded $84.7 million of the $125 million limit in 2020, we were committed to fund up to $265.3 million of Growth Capital Improvements in 2021. During the year ended December 31, 2021, Uniti reimbursed $221.5 million of Growth Capital Improvements, of which $28.5 million, as allowed under the Settlement, represented the reimbursement of capital improvements completed in 2020 that were previously classified as tenant funded capital improvements.

Stock Purchase Agreements

On September 9, 2020, Uniti entered into stock purchase agreements (each, a “Stock Purchase Agreement”) with certain first lien creditors of Windstream to replace and codify the terms set forth in the previously-filed binding letters of intent, pursuant to which on September 18, 2020 Uniti sold an aggregate of 38,633,470 shares of Uniti common stock, par value $0.0001 per share (the “Settlement Common Stock”), at $6.33 per share, which represents the closing price of Uniti common stock on the date when an agreement in principle of the basic outline of the Settlement was first reached. Uniti transferred the proceeds from the sale of the Settlement Common Stock to Windstream as consideration relating to the Asset Purchase Agreement and in partial settlement of the litigation with Windstream.

Asset Purchase Agreement (see Note 6)

On September 18, 2020, and in furtherance of the Settlement Agreement, Uniti and Windstream closed an asset purchase agreement, as amended by a letter agreement (collectively, the “Asset Purchase Agreement”), pursuant to which (a) Uniti paid to Windstream approximately $284.6 million and (b) Windstream (i) granted to Uniti exclusive rights to use 1.8 million fiber strand miles leased by Windstream under the CLEC MLA, which fiber strands are

either unutilized or utilized under certain dark fiber indefeasible rights of use (“IRUs”) that were simultaneously transferred to Uniti, (ii) conveyed to Uniti fiber assets (and underlying rights) consisting of 0.4 million fiber strand miles (covering 4,000 route miles) owned by Windstream, and (iii) transferred and assigned to subsidiaries of Uniti dark fiber IRUs relating to (x) the fiber strand miles granted to Uniti under the CLEC MLA (and described in clause (i)) and (y) the fiber assets (and underlying rights) for the 0.4 million fiber strand miles conveyed to Uniti (and described in clause (ii)), which IRUs generated $28.9 million of annual EBITDA in the aggregate as of closing of the Asset Purchase Agreement. In addition, upon the transfer of the Windstream owned fiber assets (described in clause (ii) above), Uniti granted to Windstream a 20-year IRU for certain strands included in the transferred fiber assets.

Other Litigation

On July 3, 2019, SLF Holdings, LLC (“SLF”) filed a complaint against the Company, Uniti Fiber, and certain current and former officers of the Company (collectively, the “Defendants”) in the United States District Court for the Southern District of Alabama, in connection with Uniti Fiber’s purchase of Southern Light, LLC from SLF in July 2017. The complaint asserted claims for fraud and conspiracy, as well as claims under federal and Alabama securities laws, alleging that Defendants improperly failed to disclose to SLF the risk that the Spin-Off and entry into the Master Lease violated certain debt covenants of Windstream. On September 26, 2019, the action was transferred to United States District Court for the District of Delaware. On November 18, 2019, SLF filed an amended complaint, adding allegations that Defendants also failed to fully disclose the risk that the Master Lease purportedly could be recharacterized as a financing instead of a “true lease.” The amended complaint seeks compensatory and punitive damages, as well as reformation of the purchase agreement for the sale. On December 18, 2019, Defendants moved to dismiss the amended complaint in its entirety. That motion was fully briefed as of February 7, 2020, and a hearing on the motion was heard on May 12, 2020. On November 4, 2020, the court granted the Defendants’ motion and dismissed SLF’s amended complaint, in its entirety, with prejudice. On December 1, 2020, SLF filed a notice of appeal to the United States Court of Appeals for the Third Circuit from the district court’s dismissal order. The appeal was fully briefed on September 10, 2021, and the Court of Appeals notified the parties that it will decide the appeal without oral argument. We have evaluated this matter under the guidance provided by ASC 450-20, Contingencies (“ASC 450”), and as of the date of this Annual Report on Form 10-K, we consider a loss not to be probable and are unable to estimate a reasonably possible range of loss; therefore, we have not recorded any liabilities associated with these claims in our Consolidated Balance Sheet.

Beginning on October 25, 2019, several purported shareholders filed separate putative class actions in the U.S. District Court for the Eastern District of Arkansas against the Company and certain of our officers, alleging violations of the federal securities laws, based on claims similar to those asserted in the SLF Action. On March 12, 2020, the U.S. District Court for the Eastern District of Arkansas consolidated the various shareholder actions and appointed lead plaintiffs and lead counsel in the consolidated cases under the caption In re Uniti Group Inc. Securities Litigation (the “Class Action”). On May 11, 2020, lead plaintiffs filed a consolidated amended complaint in the Class Action. The consolidated amended complaint seeks to represent investors who acquired the Company’s securities between April 20, 2015 and February 15, 2019. The Class Action asserts claims under Sections 10(b) and 20(a) of the Exchange Act and Rule 10b-5 promulgated thereunder, alleging that the Company made materially false and misleading statements by allegedly failing to disclose, among other things, the risk that the Spin-Off and entry into the Master Lease violated certain debt covenants of Windstream and/or the risk that the Master Lease purportedly could be recharacterized as a financing instead of a “true lease.” The Class Action seeks class certification, unspecified monetary damages, costs and attorneys’ fees and other relief. On July 10, 2020, defendants moved to dismiss the consolidated amended complaint. On April 1, 2021, the court issued an order denying defendants’ motion to dismiss. On April 15, 2021, defendants filed a motion for reconsideration of the order or, in the alternative, for certification of an appeal of the decision to the Eighth Circuit. On December 22, 2021, the court issued an order denying defendants’ motion for reconsideration or, in the alternative, certification of an appeal. On October 25, 2021, plaintiffs filed a motion for class certification, which defendants have opposed. Discovery is ongoing. We intend to defend this matter vigorously, and, because it is still in its relatively early stages, we have not yet determined what effect this lawsuit will have, if any, on our financial position or results of operations. We have evaluated this matter under the guidance provided by ASC 450, and as of the date of this Annual Report on Form 10-K, we consider a loss not to be probable and are unable to estimate a reasonably possible range of loss; therefore, we have not recorded any liabilities associated with these claims in our Consolidated Balance Sheet.

On August 17, 2021, two purported shareholders filed a derivative action on behalf of Uniti in the Circuit Court for Baltimore City, Maryland, under the caption Mayer et al. v. Gunderman et al., 24-C-21-003488 (the “Derivative Action”). The Derivative Action names Kenneth Gunderman and Mark Wallace as defendants and the Company as a nominal defendant and asserts claims for breach of fiduciary duty and unjust enrichment. The complaint alleges that the individual defendants caused the Company to issue certain false and misleading statements relating to the Spin-Off and/or the Master Lease. In particular, as in the Class Action, the complaint alleges, among other things, that Defendants failed to disclose the risk that the Spin-Off and entry into the Master Lease violated certain debt covenants of Windstream and/or the risk that the Master Lease purportedly could be recharacterized as a financing instead of a “true lease.” The complaint seeks unspecified damages, unspecified equitable relief, and related costs and fees. The parties are currently discussing a potential stay of the action pending the outcome of the Class Action. On December 23, 2021, the court entered a joint stipulation to stay the Derivative Action pending the outcome of the Class Action, including the time for the defendants to respond to the complaint. Because this matter is still in its preliminary stages, we have not yet determined what effect this lawsuit will have, if any, on our financial position or results of operations. We have evaluated this matter under the guidance provided by ASC 450, and as of the date of this Annual Report on Form 10-K, we consider a loss not to be probable and are unable to estimate a reasonably possible range of loss; therefore, we have not recorded any liabilities associated with these claims in our Consolidated Balance Sheet.

On February 11, 2022, a purported shareholder filed a derivative action on behalf of Uniti in the federal District Court for the District of Maryland. The complaint names Kenneth Gunderman, Mark Wallace, Francis Frantz, David Solomon, Jennifer Banner, and Scott Bruce as defendants and the Company as a nominal defendant and asserts claims for contribution against Gunderman and Wallace if the Company is found to be liable for violations of the federal securities laws in the Class Action and claims against all the individual defendants for breaches of fiduciary duty, waste of corporate assets, and unjust enrichment against. The allegations in the complaint are similar to those in the Derivative Action and the Class Action. The complaint seeks unspecified damages, equitable relief, and related costs and fees. We intend to defend this matter vigorously, and, because it is still in its relatively early stages, we have not yet determined what effect this lawsuit will have, if any, on our financial position or results of operations. We have evaluated this matter under the guidance provided by ASC 450, and as of the date of this Annual Report on Form 10-K, we consider a loss not to be probable and are unable to estimate a reasonably possible range of loss; therefore, we have not recorded any liabilities associated with these claims in our Consolidated Balance Sheet.

We maintain insurance policies that would provide coverage to various degrees for potential liabilities arising from the legal proceedings described above.

Under the terms of the tax matters agreement entered into on April 24, 2015 by the Company, Windstream Services, LLC and Windstream (the “Tax Matters Agreement”), in connection with the Spin-Off, we are generally responsible for any taxes imposed on Windstream that arise from the failure of the Spin-Off and the debt exchanges to qualify as tax-free for U.S. federal income tax purposes, within the meaning of Section 355 and Section 368(a)(1)(D) of the Code, as applicable, to the extent such failure to qualify is attributable to certain actions, events or transactions relating to our stock, indebtedness, assets or business, or a breach of the relevant representations or any covenants made by us in the Tax Matters Agreement, the materials submitted to the IRS in connection with the request for the private letter ruling or the representations provided in connection with the tax opinion. We believe that the probability of us incurring obligations under the Tax Matters Agreement are remote; and therefore, we have recorded no such liabilities in our Consolidated Balance Sheet as of December 31, 2021.

Accumulated Other Comprehensive Income

12 Months Ended

Dec. 31, 2021

Accumulated Other Comprehensive Income Loss Net Of Tax [Abstract]

Accumulated Other Comprehensive Income

Note 17. Accumulated Other Comprehensive Income

Changes in accumulated other comprehensive income (loss) by component is as follows for the years ended December 31, 2021, 2020 and 2019:

(Thousands)	2021			2020			2019
Cash flow hedge changes in fair value gain (loss):
Balance at beginning of period	$	(30,353	)	$	(23,442	)	$	30,042
Other comprehensive loss before reclassifications		—			(7,713	)		(51,288	)
Amounts reclassified from accumulated other comprehensive income		—			677			(3,324	)
Net other comprehensive loss		(30,353	)		(30,478	)		(24,570	)
Less: Other comprehensive loss attributable to noncontrolling interest		—			(125	)		(1,128	)
Balance at end of period		(30,353	)		(30,353	)		(23,442	)
Interest rate swap termination:
Balance at beginning of period attributable to common shareholders		9,986			—			—
Amounts reclassified from accumulated other comprehensive income		11,317			10,155			—
Balance at end of period		21,303			10,155			—
Less: Other comprehensive income attributable to noncontrolling interest		114			169			—
Balance at end of period attributable to common shareholders		21,189			9,986			—
Foreign currency translation gain (loss):
Balance at beginning of period		—			—			63
Translation adjustments		—			—			—
Amounts reclassified from accumulated other comprehensive income		—			—			(63	)
Net other comprehensive income (loss)		—			—			—
Less: Other comprehensive income (loss) attributable to noncontrolling interest		—			—			—
Balance at end of period		—			—			-
Accumulated other comprehensive income (loss) at end of period	$	(9,164	)	$	(20,367	)	$	(23,442	)

Income Taxes

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Income Taxes

Note 18. Income Taxes

We elected on our initial U.S. federal income tax return to be treated as a REIT under the Code. To qualify as a REIT, we must distribute at least 90% of our annual REIT taxable income, determined without regard to the dividends paid deduction and excluding any capital gains, to shareholders, and meet certain organizational and operational requirements, including asset holding requirements. As a REIT, we will generally not be subject to U.S. federal income tax on income that we distribute as dividends to our shareholders. If we fail to qualify as a REIT in any taxable year unless certain relief provisions apply, we will be subject to U.S. federal income tax, including any applicable alternative minimum tax for open taxable years through 2017, on our taxable income at regular corporate income tax rates, and we could not deduct dividends paid to our shareholders in computing taxable income. Any resulting corporate liability could be substantial and could materially and adversely affect our net income and net cash available for distribution to shareholders. Unless we were entitled to relief under certain Code provisions, we also would be disqualified from reelecting to be taxed as a REIT for the four taxable years following the year in which we failed to qualify as a REIT.

We have elected to treat the subsidiaries through which we operate Uniti Fiber and Talk America as TRSs. TRSs enable us to engage in activities that result in income that does not constitute qualifying income for a REIT. Our TRSs are subject to U.S. federal, state and local corporate income taxes.

Income tax expense (benefit) for the years ended December 31, 2021, 2020 and 2019 as reported in the accompanying Consolidated Statements of Income (Loss) was comprised of the following:

	Year Ended December 31,
(Thousands)	2021			2020			2019
Current
Federal	$	(71	)	$	(901	)	$	10,401
State		1,622			(498	)		2,742
Foreign		-			87			2,948
Total current expense		1,551			(1,312	)		16,091

Deferred
Federal		(5,066	)		(7,665	)		(9,378	)
State		(1,401	)		(6,226	)		(2,050	)
Total deferred expense		(6,467	)		(13,891	)		(11,428	)
Total income tax (benefit) expense	$	(4,916	)	$	(15,203	)	$	4,663

An income tax expense reconciliation between the U.S. statutory tax rate and the effective tax rate is as follows:

	Year Ended December 31,
(Thousands)	2021			2020			2019
Income from continuing operations, before tax	$	119,844		$	(734,015	)	$	15,571
Income tax at U.S. statutory federal rate		25,167			(154,143	)		3,270
Increases (decreases) resulting from:
State taxes, net of federal benefit		288			(3,452	)		407
Benefit of REIT status		(30,565	)		129,742			(2,188	)
Goodwill impairment		-			14,910			-
Return to accrual		193			(2,795	)		104
Permanent differences		1			448			122
Foreign taxes		-			87			2,948
Income tax (benefit) expense	$	(4,916	)	$	(15,203	)	$	4,663

The effective tax rate on income from continuing operations differs from tax at the statutory rate primarily due to our status as a REIT.

Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases.

The components of the Company's deferred tax assets and liabilities are as follows:

(Thousands)	December 31, 2021			December 31, 2020
Deferred tax assets:
Deferred revenue	$	29,275		$	34,207
Accrued bonuses		-			3
Stock-based compensation		503			801
Accrued expenses and other		183			270
Asset retirement obligation		1,791			1,429
Inventory reserve		140			241
Excess business interest expense		306			17
Lease asset liability		13,952			16,842
Settlement obligation		710			883
Debt discount and interest expense		10,040			-
Other		2,215			3,032
Net operating loss carryforwards		139,020			126,464
Deferred tax assets		198,135			184,189

Deferred tax liabilities:
Property, plant and equipment	$	(97,372	)	$	(103,441	)
Customer list intangible		(40,941	)		(42,898	)
Other intangible amortization		(28,689	)		(24,852	)
Right of use asset		(16,039	)		(18,443	)
Deferred or prepaid costs		(3,373	)		(3,041	)
Debt discount and interest expense		-			(2,034	)
Other		-			(20	)
Deferred tax liabilities	$	(186,414	)	$	(194,729	)

Deferred tax asset (liability), net	$	11,721		$	(10,540	)

As of December 31, 2021, the Company’s deferred tax assets were primarily the result of U.S. federal and state NOL carryforwards.

As of each reporting date, the Company’s management considers new evidence, both positive and negative, that could impact management’s view with regard to future realization of deferred tax assets. Given the Company has significant deferred tax liabilities, management determined that sufficient positive evidence exists as of December 31, 2021, to conclude that it is more likely than not that all of its deferred tax assets are realizable, and therefore, no valuation allowance has been recorded.

On August 31, 2016, we acquired 100% of the outstanding equity of Tower Cloud, Inc., which had federal NOL carryforwards of approximately $81.2 million at the date of the acquisition. As a result of the change in ownership, the utilization of Tower Cloud, Inc. NOL carryforwards is subject to limitations imposed by the Code. Approximately $18.3 million of the Tower Cloud, Inc. NOL carryforward was utilized in 2017. The remaining Tower Cloud, Inc. NOL carryforwards will expire between 2026 and 2036.

We have total federal NOL carryforwards as of December 31, 2021 of approximately $165.2 million which will expire between 2026 and 2037, and approximately $375.4 million which will not expire but the utilization of which will be limited to 80% of taxable income annually under provisions enacted in the Tax Cut and Jobs Act.

With the exception of Tower Cloud, Inc. and Uniti Fiber Holdings Inc., our 2018 returns remain open to examination. As Tower Cloud, Inc. and Uniti Fiber Holdings Inc. have NOLs available to carry forward, the applicable tax years will generally remain open to examination several years after the applicable loss carryforwards have been utilized or expire.

The Company or its subsidiaries file tax returns in the U.S. federal jurisdiction, various state and local jurisdictions, and certain foreign jurisdictions. A reconciliation of the Company’s beginning and ending liability for unrecognized tax benefits is as follows:

(Thousands)	2021		2020
Balance at January 1	$	1,734	$	1,734
Balance at December 31	$	1,734	$	1,734

The Company’s entire liability for unrecognized tax benefit would affect the annual effective tax rate if recognized.

The Company recognizes accrued interest and penalties related to unrecognized tax benefits as additional tax expense. The Company recorded no interest expense and penalties for the period ending December 31, 2021. The Company’s balance of accrued interest and penalties related to unrecognized tax benefits as of December 31, 2021 was $1.3 million.

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 21
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32857-109319

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-URI http://asc.fasb.org/extlink&oid=122134291&loc=d3e330215-122817

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 17
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32809-109319

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-URI http://asc.fasb.org/extlink&oid=122134291&loc=d3e330036-122817

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 14
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32705-109319

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 270
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6424409&loc=d3e44925-109338

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-URI http://asc.fasb.org/topic&trid=2144680

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 30
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6424122&loc=d3e41874-109331

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Supplemental Cash Flow Information [Abstract]

Supplemental Cash Flow Information

12 Months Ended

Dec. 31, 2021

Supplemental Cash Flow Information

Note 19. Supplemental Cash Flow Information

Cash paid for interest expense, net of capitalized interest and income taxes, net of refunds for the years ended December 31, 2021, 2020 and 2019 is as follows:

	Year Ended December 31,
(Thousands)	2021		2020		2019
Cash payments for:
Interest, net of capitalized interest	$	375,578	$	314,276	$	344,464
Income taxes, net of refunds	$	1,386	$	1,155	$	16,073

Capital Stock

12 Months Ended

Dec. 31, 2021

Equity [Abstract]

Capital Stock

Note 20. Capital Stock

The limited partner equity interests in our operating partnership (commonly called “OP Units”), are exchangeable on a one-for-one basis for shares of our common stock or, at our election, cash of equivalent value. During the year ended December 31, 2021, the Company exchanged 2,768,199 OP Units held by a third party for an equal number of common shares of the Company. The OP Units exchanged represented approximately 80% of the OP Units held by a third party with a carrying value of $55.2 million as of the exchange date.

On September 9, 2020, Uniti entered into stock purchase agreements with certain first lien creditors of Windstream to replace and codify the terms set forth in the previously-filed binding letters of intent, pursuant to which on September 18, 2020 Uniti sold an aggregate of 38,633,470 shares of Uniti common stock, par value $0.0001 per share (the “Settlement Common Stock”), at $6.33 per share, which represents the closing price of Uniti common stock on the date when an agreement in principle of the basic outline of the Settlement was first reached. Uniti transferred the proceeds from the sale of the Settlement Common Stock to Windstream as consideration relating to the Asset Purchase Agreement and settlement of the litigation with Windstream. The issuance and sale of the Settlement Common Stock was made in reliance upon the exemption from registration requirements pursuant to Section 4(a)(2) of the Securities Act of 1933, as amended. Certain recipients of the Settlement Common Stock are subject to a one-year lock up, and all recipients are subject to a customary standstill agreement. No recipient will receive any governance rights in connection with the issuance. The binding letters of intent and the Stock Purchase Agreements also provide for customary registration rights.

On June 22, 2020, we established an at-the-market common stock offering program (the “ATM Program”) to sell shares of our common stock, par value $0.0001 per share, having an aggregate offering price of up to $250 million. This offering supersedes and replaces the $250 million program we commenced on September 2, 2016, which had

approximately $117.1 million available for issuance under such program. We have not made any sales under the refreshed ATM Program. This program is intended to provide additional financial flexibility and an alternative mechanism to access the capital markets at an efficient cost as and when we need financing, including for acquisitions.

On July 2, 2019, the Company issued 8,677,163 shares of its commons stock in connection with the conversion by PEG Bandwidth Holdings, LLC of 87,500 shares of the Series A Shares. The Company issued common stock with a total value of $87.5 million, with the total number of shares calculated based on the five-day volume weighted average price of its common stock ending on June 27, 2019. Upon conversion, all outstanding Series A Shares were cancelled and no longer remain outstanding. The issuance by the Company of the common stock was made in reliance upon the exception from registration requirements pursuant to Section 3(a)(9) of the Securities Act.

We are authorized to issue up to 500,000,000 shares of voting common stock and 50,000,000 shares of preferred stock, of which 234,779,247 and 0 shares, respectively, were outstanding at December 31, 2021. We had 265,220,753 shares of voting common stock available for issuance at December 31, 2021.

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 14
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496171-112644

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 14
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496171-112644

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-URI http://asc.fasb.org/extlink&oid=120397183&loc=d3e187085-122770

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 18
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496189-112644

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (g)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-URI http://asc.fasb.org/topic&trid=2208762

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 18
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496189-112644

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (h)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 14
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496171-112644

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 18
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496189-112644

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 16
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496180-112644

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (i)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(e)(1))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Dividends (Distributions)

12 Months Ended

Dec. 31, 2021

Dividends (Distributions)

Note 21. Dividends (Distributions)

Distributions with respect to our common stock is characterized for federal income tax purposes as taxable ordinary dividends, capital gains dividends, non-dividend distribution or a combination thereof. For the years ended December 31, 2021, 2020, and 2019, our common stock distribution per share was $0.45, $0.60 and $0.97, respectively, characterized as follows:

	Year Ended December 31,
	2021 ⁽¹⁾		2020 ⁽²⁾		2019⁽³⁾
Ordinary dividends	$	0.45	$	0.52	$	0.97
Capital gain distribution	$	-	$	0.08	$	-
Non-dividend distributions		-		-		-
Total	$	0.45	$	0.60	$	0.97

⁽¹⁾ Pursuant to Internal Revenue Code Section 857(b)(9), if you were a stockholder of record as of December 17, 2021, your dividend payment of $0.1500 per share received in January 2022 will be reported on Form 1099-DIV for the 2022 taxable year for federal income tax purposes.

⁽²⁾	Pursuant to Internal Revenue Code Section 857(b)(9), if you were a stockholder of record as of December 15, 2020, your dividend payment of $0.1500 per share received in January 2021 was reported on Form 1099-DIV for the 2020 taxable year for federal income tax purposes.

⁽³⁾	^{Pursuant to Internal Revenue Code Section 857(b)(9), if you were a stockholder of record as of December 31, 2019, your dividend payment of $0.2200 per share received in January 2020 was reported on Form 1099-DIV for the 2019 taxable year for federal income tax purposes.}

Employee Benefit Plan

12 Months Ended

Dec. 31, 2021

Compensation And Retirement Disclosure [Abstract]

Employee Benefit Plan

Note 22. Employee Benefit Plan

We sponsor a defined contribution plan under section 401(k) of the Internal Revenue Code, which covers employees who are 21 years of age and over. Under this plan, we match voluntary employee contributions at a rate of 100% for the first 3% of an employee’s annual compensation and at a rate of 50% for the next 2% of an employee’s annual compensation. Employees vest in our contribution immediately. Our expense related to the plan recognized for the years ended December 31, 2021, 2020 and 2019 was $2.1 million, $2.2 million and $1.7 million, respectively.

We sponsor a deferred compensation plan. The plan is established and maintained by the Company primarily to permit certain management or highly compensated employees of the Company and its subsidiaries, within the meaning of Section 301(a) of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), to defer a percentage of their compensation. The plan is an unfunded deferred compensation plan intended to qualify

for the exemptions provided in, and shall be administered in a manner consistent with Section 201, 301 and 401 of ERISA and Section 409A of the Internal Revenue Code of 1986, as amended.

Schedule I - Condensed Financial Information of The Registrant (Parent Company)

12 Months Ended

Dec. 31, 2021

Condensed Financial Information Of Parent Company Only Disclosure [Abstract]

Schedule I - Condensed Financial Information of The Registrant (Parent Company)

Uniti Group Inc.

Schedule I – Condensed Financial Information of

The Registrant (Parent Company)

Condensed Balance Sheets

(Thousands, except par value)	December 31, 2021			December 31, 2020
Assets:
Cash and cash equivalents	$	3,112		$	2,284
Other assets		1,541			37,894
Total Assets	$	4,653		$	40,178

Liabilities:
Accrued other liabilities	$	2,462		$	1,145
Dividends payable		1,159			36,205
Cash distributions and losses in excess of investments in consolidated subsidiaries		2,128,824			2,144,486
Total liabilities		2,132,445			2,181,836

Shareholders' Deficit:
Preferred stock, $0.0001 par value, 50,000 shares authorized, no shares issued and outstanding		-			-
Common stock, $0.0001 par value, 500,000 shares authorized, issued and outstanding: 234,779 shares at December 31, 2021 and 231,262 at December 31, 2020		23			23
Additional paid-in capital		1,214,830			1,209,141
Accumulated other comprehensive loss		(9,164	)		(20,367	)
Distributions in excess of accumulated earnings		(3,333,481	)		(3,330,455	)
Total Uniti shareholders' deficit		(2,127,792	)		(2,141,658	)
Total Liabilities, Convertible Preferred Stock, and Shareholders' Deficit	$	4,653		$	40,178

See notes to Consolidated Financial Statements of Uniti Group Inc. included in Financial Statements and Supplementary Data.

Uniti Group Inc.

Schedule I – Condensed Financial Information of

The Registrant (Parent Company)

Condensed Statements of Comprehensive Income

	Year Ended December 31,
(Thousands)	2021			2020			2019
Costs and Expenses:
General and administrative expense	$	(58	)	$	42		$	36
Transaction related costs		18			101			2,138
Total costs and expenses		(40	)		143			2,174
Operating income (loss)		40			(143	)		(2,174	)
Earnings (loss) from consolidated subsidiaries		124,810			(708,139	)		24,730
Income (Loss) before income taxes		124,850			(708,282	)		22,556
Income tax expense (benefit)		1,190			(1,981	)		11,974
Net income (loss) attributable to shareholders		123,660			(706,301	)		10,582
Comprehensive income (loss) attributable to shareholders	$	134,863		$	(703,226	)	$	(42,639	)

See notes to Consolidated Financial Statements of Uniti Group Inc. included in Financial Statements and Supplementary Data.

Uniti Group Inc.

Schedule I – Condensed Financial Information of

The Registrant (Parent Company)

Condensed Statements of Cash Flows

	Year Ended December 31,
(Thousands)	2021			2020			2019
Cash flow from operating activities
Net cash provided by operating activities	$	141,527		$	94,533		$	199,572

Cash flow from investing activities
Proceeds from sale of real estate, net of cash		-			-			2,488
Net cash provided by investing activities		-			-			2,488

Cash flow from financing activities
Settlement Common Stock issuance (Note 17)		-			244,550			-
Dividends paid		(141,371	)		(135,676	)		(138,731	)
Proceeds from issuance of Notes		-			-			83,665
Payments for financing costs		-			-			(2,895	)
Common stock issuance, net of costs		-			-			21,641
Net share settlement		(4,100	)		(1,097	)		(1,834	)
Proceeds from sale of warrants		-			-			50,819
Payment for bond hedge option		-			-			(70,035	)
Intercompany transactions, net		4,100			(244,125	)		(102,411	)
Employee stock purchase plan		672			676			883
Net cash used in financing activities		(140,699	)		(135,672	)		(158,898	)
Net increase (decrease) in cash and cash equivalents		828			(41,139	)		43,162
Cash and cash equivalents at beginning of period		2,284			43,423			261
Cash and cash equivalents at end of period		3,112			2,284			43,423
Non-cash investing and financing activities:
Settlement of contingent consideration through non-cash consideration	$	-		$	-		$	11,178

See notes to Consolidated Financial Statements of Uniti Group Inc. included in Financial Statements and Supplementary Data.

Uniti Group Inc.

Schedule I – Condensed Financial Information of

The Registrant (Parent Company)

Notes to Condensed Financial Statements

Note 1. Background and Basis of Presentation

Uniti Group Inc.’s parent company financial information has been derived from its consolidated financial statements and should be read in conjunction with the consolidated financial statements and notes of Uniti and its subsidiaries included in Item 8 Financial Statements and Supplementary Data in this Annual Report on Form 10-K.

Note 2. Subsidiary Transactions

Investment in Subsidiaries

During 2017, the parent company completed its reorganization (the “up-REIT Reorganization”) to operate through a customary “up-REIT” structure, pursuant to which we hold substantially all of our assets through a partnership, Uniti Group LP, a Delaware limited partnership (the “Operating Partnership”), that we control as general partner, with the only significant difference between the financial position and results of operations of the Operating Partnership and its subsidiaries compared to the consolidated financial position and consolidated results of operations of Uniti is that the results for the Operating Partnership and its subsidiaries do not include Uniti’s Consumer CLEC segment, which consists of Talk America Services, which we substantially completed the wind down of the business as of the end of the second quarter of 2020. The up-REIT structure is intended to facilitate future acquisition opportunities by providing the Company with the ability to use common units of the Operating Partnership as a tax-efficient acquisition currency. As of December 31, 2021, we are the sole general partner of the Operating Partnership and own approximately 99.7% of the partnership interests in the Operating Partnership.

Dividends

Cash dividends received from subsidiaries and recorded in Cash Flow from Operating Activities in the Condensed Statement of Cash Flows were $139.9 million, $134.7 million and $136.2 million for the year ended December 31, 2021, 2020 and 2019, respectively.

Schedule II - Valuation and Qualifying Account

12 Months Ended

Dec. 31, 2021

Valuation And Qualifying Accounts [Abstract]

Schedule II - Valuation and Qualifying Account

Uniti Group Inc.

Schedule II – Valuation and Qualifying Accounts

(dollars in thousands)

Column A	Column B		Column C				Column D			Column E
			Additions
Description	Balance at Beginning of Period		Charged to Cost and Expenses		Charged to Other Accounts		Deductions			Balance at End of Period
Allowance for Doubtful Accounts
Year Ended December 31, 2021	$	2,940	$	1,522	$	-	$	(1,745	)	$	2,717
Year Ended December 31, 2020	$	2,743	$	1,783	$	472	$	(2,058	)	$	2,940
Year Ended December 31, 2019	$	2,288	$	1,140	$	-	$	(685	)	$	2,743

Schedule III - Real Estate Investments and Accumulated Depreciation

12 Months Ended

Dec. 31, 2021

Real Estate And Accumulated Depreciation Disclosure [Abstract]

Schedule III - Real Estate Investments and Accumulated Depreciation

Uniti Group Inc.

Schedule III – Real Estate Investments and Accumulated Depreciation

As of December 31, 2021

(dollars in thousands)

Col. A	Col. B		Col. C	Col. D		Col. E		Col. F		Col. G	Col. H	Col. I

				Cost capitalized subsequent to acquisition^{(1) (3)}								Life on which Depreciation in Latest Income
Description	Encumbrances		Initial cost to company⁽¹⁾	Improvements	Carry Costs	Gross Amount Carried at Close of Period⁽⁵⁾		Accumulated Depreciation		Date of Construction⁽²⁾	Date Acquired⁽²⁾	Statements is Computed
Land	$	—	(1)	(1)	(1)	$	26,593	$	—	(2)	(2)	Indefinite
Building and improvements		—	(1)	(1)	(1)		343,624		193,080	(2)	(2)	3 - 40 years
Poles		—	(1)	(1)	(1)		281,130		193,494	(2)	(2)	30 years
Fiber		—	(1)	(1)	(1)		3,041,546		1,452,498	(2)	(2)	30 years
Copper		—	(1)	(1)	(1)		3,918,281		3,451,376	(2)	(2)	20 years
Conduit		—	(1)	(1)	(1)		89,859		67,983	(2)	(2)	30 years
Towers		—	(1)	(1)	(1)		1,397		881	(2)	(2)	20 years
Finance lease assets		—	(1)	(1)	(1)		25,511		3,818	(2)	(2)	See Note 3
Other assets		—	(1)	(1)	(1)		10,649		3,788	(2)	(2)	15 - 20 years
Construction in progress		—	(1)	(1)	(1)		3,479		—	(2)	(2)	See Note 3

⁽¹⁾Given the voluminous nature and variety of our real estate investment assets, this schedule omits columns C and D from the schedule III presentation.

⁽²⁾Because additions and improvements to our real estate investment assets are ongoing, construction and acquisition dates are not applicable.

⁽³⁾For the year ended December 31, 2021, the amount of capitalized costs related to the Distribution Systems is as follows (millions):

	Tenant capital improvements⁽⁴⁾		$	139.0
	Growth capital improvements⁽⁵⁾		$	221.5

⁽⁴⁾ Tenant capital improvements (“TCIs”) represent, maintenance, repair, overbuild, upgrade or replacements to the leased network, including, without limitation, the replacement of copper distribution systems with fiber distribution systems. We receive non-monetary consideration related to the TCIs as they automatically become our property, and we recognize the cost basis of TCIs that are capital in nature.

⁽⁵⁾ Pursuant to the Windstream Leases, Windstream (or any successor tenant under a Windstream Lease) has the right to cause Uniti to reimburse up to an aggregate $1.75 billion for certain growth capital improvements in long-term value accretive fiber and related assets made by Windstream (or the applicable tenant under the Windstream Lease) to certain ILEC and CLEC properties (the “Growth Capital Improvements”).

⁽⁶⁾ Aggregate cost for Federal income tax purposes related to our real estate investment assets is $7.1 billion.

Uniti Group Inc.

Schedule III – Real Estate Investments and Accumulated Depreciation

As of December 31, 2021

(dollars in thousands)

	2021		2020
Gross amount at beginning	$	7,387,915	$	7,394,951
Additions during period:
Tenant capital improvements⁽¹⁾		110,506		102,396
Growth capital improvements⁽¹⁾		221,498		84,700
Acquisitions		3,975		220,674
Other		38,165		170
Total additions		374,144		407,940

Deductions during period:
Cost of real estate sold or disposed		19,990		414,976
Other		-		-
Total deductions		19,990		414,976

Balance at end	$	7,742,069	$	7,387,915
⁽¹⁾During the year ended December 31, 2021, TCIs totaled $139.0 million, offset by $28.5 million which represented the reimbursement of Growth Capital Improvements completed in 2020 that were previously classified as TCIs and are included within the Growth Capital Improvement additions of $221.5 million.

	2021		2020
Gross amount of accumulated depreciation at beginning	$	5,205,395	$	5,022,929
Additions during period:
Depreciation		170,977		202,877
Other		7,345		-
Total additions		178,322		202,877

Deductions during period:
Amount of accumulated depreciation for assets sold or disposed		16,799		20,411
Other		-		-
Total deductions		16,799		20,411

Balance at end	$	5,366,918	$	5,205,395

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2021

Accounting Policies [Abstract]

Use of Estimates

Property, Plant and Equipment

Tenant Capital Improvements

Impairment of Long-Lived Assets

Asset Retirement Obligations

Cash and Cash Equivalents

Derivative Instruments and Hedging Activities

Exchangeable Notes and Related Transactions

Intangible Assets

Foreign Currency Translation

Transaction Related and Other Costs

Settlement Expense

Debt Issuance Costs

Revenue Recognition

Leasing

Fiber Infrastructure

The Fiber Infrastructure segment represents the operations of our fiber business, Uniti Fiber, which provides:

ii.

iii.

iv.

vi.

Towers

Consumer CLEC

Straight-Line Revenue Receivable

Leases

Key estimates and judgments include how we determined (i) the discount rate we use to discount the unpaid lease payments to present value, (ii) lease term and (iii) lease payments.

ii.

iii.

balance of lease incentives received. Lease expense for lease payments is recognized on a straight-line basis over the lease term.

We have elected to exclude sales taxes from lease payments in arrangements where we are a lessor.

Stock-Based Compensation

Income Taxes

recognition period applicable for federal corporate level tax on any built-in gain recognized from a sale of assets occurring within five years after the Spin-Off expired in 2020.

Business Combinations And Asset Acquisitions

Noncontrolling Interest

Investments in Unconsolidated Entities

Goodwill

Earnings per Share

Concentration of Credit Risks

Recently Adopted Accounting Standards

Recently Adopted Accounting Pronouncements

Revenues (Tables)

12 Months Ended

Dec. 31, 2021

Segment Reporting [Abstract]

Revenues Disaggregated by Revenue Stream

The following table presents our revenues disaggregated by revenue stream.

	Year Ended December 31,
(Thousands)	2021		2020		2019
Revenue disaggregated by revenue stream
Revenue from contracts with customers
Fiber Infrastructure
Lit backhaul	$	86,915	$	106,125	$	125,983
Enterprise and wholesale		86,390		78,702		66,545
E-Rate and government		74,396		80,428		89,430
Other		3,272		4,341		2,402
Fiber Infrastructure	$	250,973	$	269,596	$	284,360
Leasing		4,449		1,420		-
Consumer CLEC		-		651		10,673
Total revenue from contracts with customers		255,422		271,667		295,033
Revenue accounted for under leasing guidance
Leasing		797,048		744,495		716,640
Fiber Infrastructure		48,052		44,767		31,245
Towers		-		6,112		14,693
Total revenue accounted for under leasing guidance		845,100		795,374		762,578
Total revenue	$	1,100,522	$	1,067,041	$	1,057,611

Schedule of Contract Assets and Contract Liabilities

The following table provides information about contract assets and contract liabilities accounted for under Topic 606.

(Thousands)	Contract Assets		Contract Liabilities
Balance at December 31, 2020	$	3,462	$	18,601
Balance at December 31, 2021	$	4,066	$	9,099

Leases (Tables)

12 Months Ended

Dec. 31, 2021

Leases [Abstract]

Components of Lease Income

The components of lease income for the years ended December 31, 2021 and 2020 are as follows:

(Thousands)

Year Ended

December 31, 2021

Year Ended

December 31, 2020

Lease income - operating leases

845,100

795,374

Lease Payments to be Received under Non-Cancellable Operating Leases

Lease payments to be received under non-cancellable operating leases where we are the lessor for the remainder of the lease terms are as of December 31, 2021 are as follows:

(Thousands)	December 31, 2021⁽¹⁾
2022	$	755,658
2023		767,822
2024		769,220
2025		770,575
2026		772,204
Thereafter		3,020,118
Total lease receivables	$	6,855,597
⁽¹⁾ Total future minimum lease payments to be received include $5.9 billion relating to the Master Lease with Windstream.

Schedule of Underlying Assets under Operating Leases

The underlying assets under operating leases where we are the lessor as of December 31, 2021 and 2020 are summarized as follows:

(Thousands)	December 31, 2021			December 31, 2020
Land		26,593		$	26,596
Building and improvements		343,624			335,495
Poles		281,130			266,758
Fiber		3,278,276			2,994,465
Equipment		428			421
Copper		3,918,281			3,850,988
Conduit		89,859			89,773
Tower assets		1,397			1,397
Finance lease assets⁽¹⁾		28,126			32,660
Other assets		10,649			10,425
		7,978,363			7,608,978
Less: accumulated depreciation		(5,391,479	)		(5,222,731	)
Underlying assets under operating leases, net	$	2,586,884		$	2,386,247
⁽¹⁾ December 31, 2020 balance includes $4.5 million assets under operating leases sold on May 28, 2021. See Note 6.

Schedule of Depreciation Expense for Underlying Assets under Operating Leases

Depreciation expense for the underlying assets under operating leases where we are the lessor for the years ended December 31, 2021 and 2020 is summarized as follows:

(Thousands)

Year Ended

December 31, 2021

Year Ended

December 31, 2020

Depreciation expense for underlying assets under operating leases

178,348

209,946

Components of Lease Cost

(Thousands)	Year Ended December 31, 2021			Year Ended December 31, 2020
Finance lease cost
Amortization of ROU assets	$	4,649		$	3,702
Interest on lease liabilities		2,383			3,807
Total finance lease cost		7,032			7,509
Operating lease cost		18,886			24,080
Short-term lease cost		2,885			2,029
Variable lease cost		492			679
Less sublease income		(12,752	)		(12,273	)
Total lease cost	$	16,543		$	22,024

Summary of Amounts Reported in Consolidated Balance Sheets for Leases

Amounts reported in the Consolidated Balance Sheets for leases where we are the lessee as of December 31, 2021 and 2020 were as follows:

(Thousands)	Location on Consolidated Balance Sheets	December 31, 2021			December 31, 2020
Operating leases
ROU asset, net⁽¹⁾	Other assets, net	$	80,271		$	97,850
ROU liability⁽²⁾	Accounts payable, accrued expenses and other liabilities, net		57,349			71,483

Finance leases
ROU asset, gross⁽³⁾	Property, plant and equipment, net	$	72,284		$	128,098
ROU liability⁽⁴⁾	Finance lease obligations		15,348			48,724

Weighted-average remaining lease term
Operating leases		9.4 years			12.2 years
Finance leases		12.8 years			13.3 years

Weighted-average discount rate
Operating leases			8.6	%		9.9	%
Finance leases			10.6	%		8.0	%
⁽¹⁾ December 31, 2020 balance includes $20.7 million ROU assets sold on May 28, 2021. See Note 6.
⁽²⁾ December 31, 2020 balance includes $17.6 million lease liabilities sold on May 28, 2021. See Note 6.
⁽³⁾ December 31, 2020 balance includes $54.0 million finance lease assets sold on May 28, 2021. See Note 6.
⁽⁴⁾December 31, 2020 balance includes $33.3 million finance lease obligations sold on May 28, 2021. See Note 6.

Schedule of Other Information Related to Leases

Other information related to leases as of December 31, 2021 and 2020 are as follows:

(Thousands)	Year Ended December 31, 2021		Year Ended December 31, 2020
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows for finance leases	$	2,383	$	3,807
Operating cash flows for operating leases		22,471		28,485
Financing cash flows for finance leases		2,019		3,702

Non-cash items:
New operating leases and remeasurements, net	$	15,230	$	2,681
New finance leases		-		31

Future Lease Payments Under Non-Cancellable Operating and Finance Leases

Future lease payments under non-cancellable leases as of December 31, 2021 are as follows:

(Thousands)	Operating Leases			Finance Leases
2022	$	14,348		$	2,329
2023		12,381			2,285
2024		10,087			2,083
2025		7,504			2,021
2026		4,918			2,021
Thereafter		36,283			14,702
Total undiscounted lease payments	$	85,521		$	25,441
Less: imputed interest		(28,172	)		(10,093	)
Total lease liabilities	$	57,349		$	15,348

Future Sublease Rentals

Future sublease rentals as of December 31, 2021 are as follows:

(Thousands)	Sublease Rentals
2022	$	9,542
2023		9,558
2024		9,661
2025		9,748
2026		9,833
Thereafter		133,585
Total	$	181,927

Business Combinations, Asset Acquisitions and Dispositions (Tables)

12 Months Ended

Dec. 31, 2021

Schedule of Assets and Liabilities Sold

(Thousands)
Assets and liabilities sold:
Assets:
Property, plant and equipment, net	$	44,685
Goodwill		17,794
Intangible assets, net		7,264
Right of use assets, net		19,841
Total assets	$	89,584

Liabilities:
Lease liabilities	$	18,779
Intangible liabilities, net		4,492
Finance lease obligations		32,343
Total liabilities	$	55,614

Cash consideration	$	62,113
Less: total assets and liabilities sold, net		(33,970	)
Gain on sale of operations	$	28,143

Windstream

Summary of Estimated Fair Values of Assets Acquired and Liabilities Assumed

(Thousands)
Consideration:
Asset Purchase Agreement	$	284,550
Fair value of settlement obligation		438,577
Total consideration	$	723,127

Fair values of the assets acquired and liabilities assumed as of the acquisition date:
Property, plant and equipment	$	170,754
Intangible assets, net		69,832
Other assets		27,632
Intangible liabilities, net		(195,091	)
Total assets acquired, net		73,127
Settlement expense		650,000
Total	$	723,127

Bluebird Fiber Network

Summary of Estimated Fair Values of Assets Acquired and Liabilities Assumed

	(thousands)
Property, plant and equipment	$	139,566
Intangible assets		175,401
Other assets		8,946
Accounts payable, accrued expenses and other liabilities		(3,095	)
Total purchase consideration	$	320,818

Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 50
-Paragraph 3A
-URI http://asc.fasb.org/extlink&oid=109226691&loc=SL51724579-110230

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109222650&loc=d3e1474-107760

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5D
-URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721677-107760

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 45
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=109222160&loc=SL51721533-107759

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 3A
-URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721659-107760

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 4B
-URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721665-107760

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109226691&loc=d3e2941-110230

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5C
-URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721675-107760

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721683-107760

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=109222650&loc=d3e1361-107760

Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5A
-URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721671-107760

Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5B
-URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721673-107760

Reference 13: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 4A
-URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721663-107760

Schedule of Fair Value Valuation of Financial Instruments

Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2021

Fair Value Disclosures [Abstract]

The following table summarizes the fair value of our financial instruments at December 31, 2021 and 2020:

(Thousands)	Total		Quoted Prices in Active Markets (Level 1)		Prices with Other Observable Inputs (Level 2)		Prices with Unobservable Inputs (Level 3)
At December 31, 2021
Liabilities
Senior secured notes - 7.875%, due February 15, 2025	$	2,351,576	$	—	$	2,351,576	$	—
Senior secured notes - 4.75%, due April 15, 2028		560,857		—		560,857		—
Senior unsecured notes - 6.50%, due February 15, 2029		1,087,844		—		1,087,844		—
Senior unsecured notes - 6.00%, due January 15, 2030		659,992		—		659,992		—
Exchangeable senior unsecured notes - 4.00%, due June 15, 2024		453,104		—		453,104		—
Senior secured revolving credit facility, variable rate, due December 10, 2024		199,980		—		199,980		—
Derivative liability, net		10,413		—		10,413		—
Settlement payable		254,725		—		254,725		—
Total	$	5,578,491	$	—	$	5,578,491	$	—

(Thousands)	Total		Quoted Prices in Active Markets (Level 1)		Prices with Other Observable Inputs (Level 2)		Prices with Unobservable Inputs (Level 3)
At December 31, 2020
Liabilities
Senior secured notes - 7.875%, due February 15, 2025	$	2,410,313	$	—	$	2,410,313	$	—
Senior secured notes - 6.00%, due April 15, 2023		561,000		—		561,000		—
Senior unsecured notes - 8.25%, due October 15, 2023		1,112,775		—		1,112,775		—
Senior unsecured notes - 7.125%, due December 15, 2024		601,500		—		601,500		—
Exchangeable senior unsecured notes - 4.00%, due June 15, 2024		426,058		—		426,058		—
Senior secured revolving credit facility, variable rate, due April 24, 2022		110,000		—		110,000		—
Derivative liability, net		22,897		—		22,897		—
Settlement payable		418,840		—		418,840		—
Contingent consideration		2,957		—		—		2,957
Total	$	5,666,340	$	—	$	5,663,383	$	2,957

Roll Forward of Liability Measured at Fair Value on Recurring Basis Using Unobservable Inputs

The following is a roll forward of our liability measured at fair value on a recurring basis using unobservable inputs (Level 3):

(Thousands)		December 31, 2020				Transfers into Level 3				(Gain)/Loss included in earnings				Settlements				December 31, 2021
Contingent consideration		$	2,957			$	—			$	22			$	(2,979	)		$	-

Property Plant And Equipment [Abstract]

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

+ References + Details

Property, Plant and Equipment (Tables)

12 Months Ended

Dec. 31, 2021

Schedule of Carrying Value of Property, Plant and Equipment

The carrying value of property, plant and equipment is as follows:

(Thousands)	Depreciable Lives⁽¹⁾	December 31, 2021			December 31, 2020
Land	Indefinite	$	28,449		$	27,945
Building and improvements	3 - 40 years		359,980			351,305
Poles	30 years		281,130			266,758
Fiber	30 years		4,107,519			3,737,372
Equipment	5 - 7 years		331,761			298,912
Copper	20 years		3,918,281			3,850,987
Conduit	30 years		89,859			89,773
Tower assets	20 years		8,544			8,571
Finance lease assets	See Note 3		72,284			74,103
Construction in progress	See Note 3		27,366			47,086
Other assets	15 - 20 years		10,652			10,553
Corporate assets	3 - 7 years		14,326			13,475
			9,250,151			8,776,840
Less accumulated depreciation			(5,741,212	)		(5,503,487	)
Property, plant and equipment, net		$	3,508,939		$	3,273,353

⁽¹⁾ Certain property acquired from Windstream is depreciated using Windstream's estimated useful lives. Specifically, certain Fiber assets are depreciated using a 20 year life.

Derivative Instruments and Hedging Activities (Tables)

12 Months Ended

Dec. 31, 2021

Derivative Instruments And Hedging Activities Disclosure [Abstract]

Summary of Gross Amount of Derivative Instruments Subject to Master Netting Arrangements With Same Counterparty

The gross amounts of our derivative instruments subject to master netting arrangements with the same counterparty as of December 31, 2021 were as follows:

Offsetting of Derivative Assets and Liabilities (Thousands)	Gross Amounts of Recognized Assets or Liabilities		Gross Amounts Offset in the Consolidated Balance Sheets			Net Amounts of Assets or Liabilities presented in the Consolidated Balance Sheets
Assets
Interest rate swaps	$	10,788	$	(10,788	)	$	-
Total	$	10,788	$	(10,788	)	$	-

Liabilities
Interest rate swaps	$	21,201	$	(10,788	)	$	10,413
Total	$	21,201	$	(10,788	)	$	10,413

Summary of Fair Value of Derivative Instruments and Presentation in Consolidated Balance Sheet

The following table summarizes the fair value and the presentation in our Consolidated Balance Sheet:

(Thousands)

Location on Consolidated

Balance Sheet

December 31, 2021

December 31, 2020

Interest rate swaps

Derivative liability, net

10,413

22,897

Goodwill and Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2021

Goodwill And Intangible Assets Disclosure [Abstract]

Schedule of Carrying Amount of Goodwill

Changes in the carrying amount of goodwill occurring during the year ended December 31, 2021 and 2020, are as follows:

(Thousands)	Fiber Infrastructure			Total
Goodwill at December 31, 2019	$	690,672		$	690,672
Goodwill impairment (Note 3)		(71,000	)		(71,000	)
Goodwill reclassified to held for sale		(17,794	)		(17,794	)
Goodwill at December 31, 2020		601,878			601,878
Goodwill at December 31, 2021	$	601,878		$	601,878

Schedule of Carrying Value of Other Intangible Assets

The carrying value of our other intangible assets is as follows:

(Thousands)	December 31, 2021						December 31, 2020
	Cost			Accumulated Amortization			Cost			Accumulated Amortization
Finite life intangible assets:
Customer lists	$	416,104		$	(105,861	)	$	416,104		$	(82,989	)
Contracts		52,536			(8,209	)		48,269			(1,068	)
Underlying rights		10,497			(437	)		10,497			(87	)

Total intangible assets	$	479,137					$	474,870
Less: accumulated amortization		(114,507	)					(84,145	)
Total intangible assets, net	$	364,630					$	390,725

Finite life intangible liabilities:
Acquired below-market leases	$	191,154		$	(13,368	)	$	190,086		$	(2,200	)

Total intangible liabilities		191,154						190,086
Less: accumulated amortization		(13,368	)					(2,200	)
Total intangible liabilities, net	$	177,786					$	187,886

Notes and Other Debt (Tables)

12 Months Ended

Dec. 31, 2021

Long Term Debt [Abstract]

Schedule of Notes and Other Debt

Notes and other debt is as follows:

(Thousands)	December 31, 2021			December 31, 2020
Principal amount	$	5,175,000		$	4,965,000
Less unamortized discount, premium and debt issuance costs		(84,463	)		(148,476	)
Notes and other debt less unamortized discount and debt issuance costs	$	5,090,537		$	4,816,524

Notes and other debt at December 31, 2021 and 2020 consisted of the following:

	December 31, 2021					December 31, 2020
(Thousands)	Principal		Unamortized Discount, Premium and Debt Issuance Costs			Principal		Unamortized Discount, Premium and Debt Issuance Costs
Senior secured notes - 6.00%, due April 15, 2023 (discount is based on imputed interest rate of 6.49%)	$	-	$	-		$	550,000	$	(4,053	)
Senior secured notes - 7.875%, due February 15, 2025 (discount is based on imputed interest rate of 8.38%)		2,250,000		(31,411	)		2,250,000		(39,852	)
Senior secured notes - 4.75%, due April 15, 2028 (discount is based on imputed interest rate of 5.04%)		570,000		(8,886	)		-		-
Senior unsecured notes - 8.25%, due October 15, 2023 (discount is based on imputed interest rate of 9.06%)		-		-			1,110,000		(22,024	)
Exchangeable senior unsecured notes - 4.00%, due June 15, 2024 (discount is based on imputed interest rate of 4.77%)		345,000		(6,187	)		345,000		(69,608	)
Senior unsecured notes - 7.125%, due December 15, 2024 (discount is based on imputed interest rate of 7.38%)		-		-			600,000		(5,316	)
Senior unsecured notes - 6.50%, due February 15, 2029 (discount is based on imputed interest rate of 6.83%)		1,110,000		(20,797	)		-		-
Senior unsecured notes - 6.00%, due January 15, 2030 (discount is based on imputed interest rate of 6.27%)		700,000		(11,689	)		-		-
Senior secured revolving credit facility, variable rate, due December 10, 2024		200,000		(5,493	)		110,000		(7,623	)
Total	$	5,175,000	$	(84,463	)	$	4,965,000	$	(148,476	)

Schedule of Aggregate Annual Maturities of Long-Term Obligations

Aggregate annual maturities of our long-term obligations at December 31, 2021 are as follows:

(Thousands)
2022	$	-
2023		-
2024		545,000
2025		2,250,000
2026		-
Thereafter		2,380,000
Total	$	5,175,000

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
-URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-04(a))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e24072-122690

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=124435984&loc=d3e28541-108399

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=123467817&loc=d3e21506-112644

Reference 5: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 55
-Paragraph 69B
-URI http://asc.fasb.org/extlink&oid=123466577&loc=SL123495735-112612

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=124435984&loc=d3e28551-108399

Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 55
-Paragraph 69E
-URI http://asc.fasb.org/extlink&oid=123466577&loc=SL123495743-112612

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=123467817&loc=d3e21521-112644

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=123467817&loc=d3e21538-112644

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=123599511&loc=d3e64711-112823

Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400

Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=123467817&loc=d3e21475-112644

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2021

Summary of Assumptions used to Value Purchase Rights Granted Under ESPP

The following table summarizes the assumptions used to value the purchase rights granted under the ESPP during the years ended December 31, 2021, 2020 and 2019:

	Year Ended December 31,
	2021			2020			2019
Expected term (years)		0.5			0.5			0.5
Expected volatility		28.0	%		72.0	%		24.0	%
Expected annual dividend		5.5	%		3.9	%		2.1	%
Risk free rate		0.1	%		0.2	%		2.1	%

Restricted Awards

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Schedule of Unvested Restricted Stock Awards

The following table sets forth the number of unvested restricted stock awards and the weighted-average fair value of these awards at the date of grant:


	Restricted Awards			Weighted Average Fair Value at Grant Date		Aggregate Intrinsic Value⁽¹⁾($000s)
Unvested balance December 31, 2020		1,561,415		$	12.33
Granted		691,241		$	11.82
Forfeited		(133,061	)	$	11.36
Vested		(765,622	)	$	12.95
Unvested balance, December 31, 2021		1,353,973		$	11.58	$	18,969

⁽¹⁾

Performance Awards

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Schedule of Unvested Performance-based Restricted Stock Units Awards

The following table sets forth the number of unvested PSUs and the weighted-average fair value of these awards at the date of grant:

	Performance Awards			Weighted Average Fair Value at Grant Date		Aggregate Intrinsic Value⁽¹⁾($000s)
Unvested balance December 31, 2020		706,570		$	17.64
Granted		216,085		$	16.27
Forfeited		(75,463	)	$	16.96
Vested		(224,077	)	$	18.96
Unvested balance, December 31, 2021		623,115		$	16.78	$	8,730

⁽¹⁾

Schedule of Assumptions used to Value PSUs Granted

The following table summarizes the assumptions used to value the PSUs granted during the years ended December 31, 2021, 2020 and 2019:

	Year Ended December 31,
	2021			2020			2019
Expected term (years)		3.0			3.0			3.0
Expected volatility		57.1	%		63.0	%		57.5	%
Expected annual dividend		0.0	%		0.0	%		0.0	%
Risk free rate		0.2	%		0.7	%		2.3	%

Earnings Per Share (Tables)

12 Months Ended

Dec. 31, 2021

Earnings Per Share [Abstract]

Schedule of Earnings Per Share Basic and Diluted

The following sets forth the computation of basic and diluted earnings per share under the two-class method:

	Year Ended December 31,
(Thousands, except per share data)	2021			2020			2019
Basic earnings per share:
Numerator:
Net income (loss) attributable to shareholders	$	123,660		$	(706,301	)	$	10,582
Less: Income allocated to participating securities		(1,077	)		(1,078	)		(549	)
Dividends declared on convertible preferred stock		(10	)		(9	)		(656	)
Amortization of discount on convertible preferred stock		—			—			(993	)
Net income (loss) attributable to common shares	$	122,573		$	(707,388	)	$	8,384
Denominator:
Basic weighted-average common shares outstanding		232,888			203,600			187,358
Basic earnings (loss) per common share	$	0.53		$	(3.47	)	$	0.04


	Year Ended December 31,
(Thousands, except per share data)	2021			2020			2019
Diluted earnings per share:
Numerator:
Net income (loss) attributable to shareholders	$	123,660		$	(706,301	)	$	10,582
Less: Income allocated to participating securities		(1,077	)		(1,078	)		(549	)
Dividends declared on convertible preferred stock		(10	)		(9	)		(656	)
Amortization of discount on convertible preferred stock		—			—			(993	)
Impact on if-converted dilutive securities		11,926			—			—
Net income (loss) attributable to common shares	$	134,499		$	(707,388	)	$	8,384
Denominator:
Basic weighted-average common shares outstanding		232,888			203,600			187,358
Impact on if-converted dilutive securities		30,809			—			—
Effect of dilutive non-participating securities		380			—			—
Weighted-average shares for dilutive earnings per common share		264,077			203,600			187,358
Dilutive earnings (loss) per common share	$	0.51		$	(3.47	)	$	0.04

Segment Information (Tables)

12 Months Ended

Dec. 31, 2021

Segment Reporting [Abstract]

Schedule of Segment Reporting Information

Selected financial data related to our segments is presented below for the years ended December 31, 2021, 2020 and 2019:

	Year Ended December 31, 2021
(Thousands)	Leasing		Fiber Infrastructure		Towers		Consumer CLEC		Corporate			Total of Reportable Segments
Revenues	$	801,497	$	299,025	$	-	$	-	$	-		$	1,100,522

Adjusted EBITDA	$	784,061	$	118,452	$	-	$	-	$	(24,232	)	$	878,281
Less:
Interest expense, net													446,296
Depreciation and amortization		174,622		116,065		-		-		255			290,942
Other, net													24,917
Transaction related and other costs													7,544
Gain on sale of operations													(28,143	)
Gain on sale of real estate													(442	)
Stock-based compensation													13,847
Income tax benefit													(4,916	)
Adjustments for equity in earnings from unconsolidated entities													3,491
Net income												$	124,745

Capital expenditures ⁽¹⁾	$	223,251	$	162,463	$	-	$	-	$	141		$	385,855

	Year Ended December 31, 2020
(Thousands)	Leasing		Fiber Infrastructure		Towers		Consumer CLEC			Corporate			Total of Reportable Segments
Revenues	$	745,915	$	314,363	$	6,112	$	651		$	-		$	1,067,041

Adjusted EBITDA	$	737,337	$	112,289	$	77	$	(545	)	$	(30,323	)	$	818,835
Less:
Interest expense, net														497,128
Depreciation and amortization		201,321		126,211		783		791			297			329,403
Other, net														11,703
Settlement expense														650,000
Goodwill impairment														71,000
Transaction related and other costs														63,875
Gain on sale of real estate														(86,267	)
Stock-based compensation														13,721
Income tax benefit														(15,203	)
Adjustments for equity in earnings from unconsolidated entities														2,287
Net loss													$	(718,812	)

Capital expenditures ⁽¹⁾	$	169,306	$	197,023	$	24,162	$	-		$	-		$	390,491

	Year Ended December 31, 2019
(Thousands)	Leasing		Fiber Infrastructure		Towers			Consumer CLEC		Corporate			Total of Reportable Segments
Revenues	$	716,640	$	315,605	$	14,693		$	10,673	$	-		$	1,057,611

Adjusted EBITDA	$	711,119	$	126,754	$	(595	)	$	1,955	$	(26,494	)	$	812,739
Less:
Interest expense, net														390,112
Depreciation and amortization		282,107		114,566		6,474			1,879		728			405,754
Other, net														(24,219	)
Transaction related and other costs														43,708
Gain on sale of real estate														(28,995	)
Stock-based compensation														10,808
Income tax expense														4,663
Net income													$	10,908

Capital expenditures ⁽¹⁾	$	338,543	$	233,506	$	99,234		$	-	$	15		$	671,298

(1)	Segment capital expenditures represents capital expenditures, the Windstream Asset Purchase Agreement and Bluebird asset acquisition (see Note 6) as reported in the investing activities section of the Consolidated Statements of Cash Flows.

Summary of Total Assets by Business Segment

Total assets by business segment as of December 31, 2021 and December 31, 2020 are as follows:

	December 31,
(Thousands)		2021		2020
Leasing	$	2,521,406	$	2,295,289
Fiber Infrastructure		2,249,860		2,354,569
Corporate		37,977		73,253
Consumer CLEC		-		8,707
Total of reportable segments	$	4,809,243	$	4,731,818

Accumulated Other Comprehensive Income (Tables)

12 Months Ended

Dec. 31, 2021

Accumulated Other Comprehensive Income Loss Net Of Tax [Abstract]

Schedule of Changes in Accumulated Other Comprehensive Income (Loss) by Component

Changes in accumulated other comprehensive income (loss) by component is as follows for the years ended December 31, 2021, 2020 and 2019:

(Thousands)	2021			2020			2019
Cash flow hedge changes in fair value gain (loss):
Balance at beginning of period	$	(30,353	)	$	(23,442	)	$	30,042
Other comprehensive loss before reclassifications		—			(7,713	)		(51,288	)
Amounts reclassified from accumulated other comprehensive income		—			677			(3,324	)
Net other comprehensive loss		(30,353	)		(30,478	)		(24,570	)
Less: Other comprehensive loss attributable to noncontrolling interest		—			(125	)		(1,128	)
Balance at end of period		(30,353	)		(30,353	)		(23,442	)
Interest rate swap termination:
Balance at beginning of period attributable to common shareholders		9,986			—			—
Amounts reclassified from accumulated other comprehensive income		11,317			10,155			—
Balance at end of period		21,303			10,155			—
Less: Other comprehensive income attributable to noncontrolling interest		114			169			—
Balance at end of period attributable to common shareholders		21,189			9,986			—
Foreign currency translation gain (loss):
Balance at beginning of period		—			—			63
Translation adjustments		—			—			—
Amounts reclassified from accumulated other comprehensive income		—			—			(63	)
Net other comprehensive income (loss)		—			—			—
Less: Other comprehensive income (loss) attributable to noncontrolling interest		—			—			—
Balance at end of period		—			—			-
Accumulated other comprehensive income (loss) at end of period	$	(9,164	)	$	(20,367	)	$	(23,442	)

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Schedule of Income Tax Expense (Benefit)

Income tax expense (benefit) for the years ended December 31, 2021, 2020 and 2019 as reported in the accompanying Consolidated Statements of Income (Loss) was comprised of the following:

	Year Ended December 31,
(Thousands)	2021			2020			2019
Current
Federal	$	(71	)	$	(901	)	$	10,401
State		1,622			(498	)		2,742
Foreign		-			87			2,948
Total current expense		1,551			(1,312	)		16,091

Deferred
Federal		(5,066	)		(7,665	)		(9,378	)
State		(1,401	)		(6,226	)		(2,050	)
Total deferred expense		(6,467	)		(13,891	)		(11,428	)
Total income tax (benefit) expense	$	(4,916	)	$	(15,203	)	$	4,663

Income Tax Expense Reconciliation Between U.S. Statutory Tax Rate and Effective Tax Rate

An income tax expense reconciliation between the U.S. statutory tax rate and the effective tax rate is as follows:

	Year Ended December 31,
(Thousands)	2021			2020			2019
Income from continuing operations, before tax	$	119,844		$	(734,015	)	$	15,571
Income tax at U.S. statutory federal rate		25,167			(154,143	)		3,270
Increases (decreases) resulting from:
State taxes, net of federal benefit		288			(3,452	)		407
Benefit of REIT status		(30,565	)		129,742			(2,188	)
Goodwill impairment		-			14,910			-
Return to accrual		193			(2,795	)		104
Permanent differences		1			448			122
Foreign taxes		-			87			2,948
Income tax (benefit) expense	$	(4,916	)	$	(15,203	)	$	4,663

Schedule of Components of Deferred Tax Assets and Liabilities

The components of the Company's deferred tax assets and liabilities are as follows:

(Thousands)	December 31, 2021			December 31, 2020
Deferred tax assets:
Deferred revenue	$	29,275		$	34,207
Accrued bonuses		-			3
Stock-based compensation		503			801
Accrued expenses and other		183			270
Asset retirement obligation		1,791			1,429
Inventory reserve		140			241
Excess business interest expense		306			17
Lease asset liability		13,952			16,842
Settlement obligation		710			883
Debt discount and interest expense		10,040			-
Other		2,215			3,032
Net operating loss carryforwards		139,020			126,464
Deferred tax assets		198,135			184,189

Deferred tax liabilities:
Property, plant and equipment	$	(97,372	)	$	(103,441	)
Customer list intangible		(40,941	)		(42,898	)
Other intangible amortization		(28,689	)		(24,852	)
Right of use asset		(16,039	)		(18,443	)
Deferred or prepaid costs		(3,373	)		(3,041	)
Debt discount and interest expense		-			(2,034	)
Other		-			(20	)
Deferred tax liabilities	$	(186,414	)	$	(194,729	)

Deferred tax asset (liability), net	$	11,721		$	(10,540	)

Schedule of Reconciliation of Unrecognized Tax Benefits

A reconciliation of the Company’s beginning and ending liability for unrecognized tax benefits is as follows:

(Thousands)	2021		2020
Balance at January 1	$	1,734	$	1,734
Balance at December 31	$	1,734	$	1,734

Supplemental Cash Flow Information (Tables)

12 Months Ended

Dec. 31, 2021

Supplemental Cash Flow Information [Abstract]

Schedule Cash Paid For Interest Expense And Income Taxes

Cash paid for interest expense, net of capitalized interest and income taxes, net of refunds for the years ended December 31, 2021, 2020 and 2019 is as follows:

	Year Ended December 31,
(Thousands)	2021		2020		2019
Cash payments for:
Interest, net of capitalized interest	$	375,578	$	314,276	$	344,464
Income taxes, net of refunds	$	1,386	$	1,155	$	16,073

Dividends (Distributions) (Tables)

12 Months Ended

Dec. 31, 2021

Schedule of Common Stock Distribution Per Share

For the years ended December 31, 2021, 2020, and 2019, our common stock distribution per share was $0.45, $0.60 and $0.97, respectively, characterized as follows:

	Year Ended December 31,
	2021 ⁽¹⁾		2020 ⁽²⁾		2019⁽³⁾
Ordinary dividends	$	0.45	$	0.52	$	0.97
Capital gain distribution	$	-	$	0.08	$	-
Non-dividend distributions		-		-		-
Total	$	0.45	$	0.60	$	0.97

⁽²⁾	Pursuant to Internal Revenue Code Section 857(b)(9), if you were a stockholder of record as of December 15, 2020, your dividend payment of $0.1500 per share received in January 2021 was reported on Form 1099-DIV for the 2020 taxable year for federal income tax purposes.

⁽³⁾	^{Pursuant to Internal Revenue Code Section 857(b)(9), if you were a stockholder of record as of December 31, 2019, your dividend payment of $0.2200 per share received in January 2020 was reported on Form 1099-DIV for the 2019 taxable year for federal income tax purposes.}

Organization and Description of Business - Additional Information (Details) - Segment		12 Months Ended
	Jan. 01, 2021	Dec. 31, 2021
Organization And Description Of Business [Line Items]
Number of operating business segments	2	4
Uniti Group LP
Organization And Description Of Business [Line Items]
Percentage of partnership interests owned		99.70%

Summary of Significant Accounting Policies - Additional Information (Details) - USD ($)				3 Months Ended	12 Months Ended
	Jan. 01, 2021	Jun. 28, 2019	Jun. 25, 2019	Jun. 30, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Summary Of Significant Accounting Policies [Line Items]
Accumulated amortization of finance lease assets					$ 5,741,212,000	$ 5,503,487,000
Gain (loss) on disposition of property					0
Depreciation expense					261,200,000	301,200,000	$ 377,300,000
Impairment losses					0	0	0
Aggregate carrying amount of asset retirement obligations					11,800,000	10,700,000
Asset retirement obligations liabilities Incurred					400,000	200,000
Asset retirement obligations accretion expense recognized					1,500,000	1,300,000	1,300,000
Debt instrument amount					$ 5,175,000,000	4,965,000,000
Issuance senior notes, stated percentage					7.875%
Common stock aggregate at an exercise price		$ 16.42	$ 16.42
Settlement expense				$ 650,000,000.0		650,000,000
Allowance for credit losses					$ 2,700,000	2,900,000
Credit losses					1,500,000	1,800,000	1,600,000
Straight-line revenue receivable					41,323,000	13,107,000
Equity					$ (2,113,774,000)	(2,072,376,000)	(1,483,164,000)	$ (1,493,203,000)
Percentage of pay cash dividends in excess of taxable income					90.00%
Minimum percentage of taxable income to be distributed as dividend to maintain REIT status					90.00%
Income tax examination, description					We recognize the benefit of tax positions that are "more likely than not" to be sustained upon examination based on their technical merit. The benefit of a tax position is measured at the largest amount that has a greater than 50 percent likelihood of being realized upon ultimate settlement.
Unrecognized tax benefit					$ 1,734,000	1,734,000	$ 1,734,000
Goodwill impairment						71,000,000
Additional paid-in capital					$ 1,214,830,000	1,209,141,000
Deferred tax liabilities						$ 10,540,000
Customer Concentration Risk \| Revenue \| Windstream
Summary Of Significant Accounting Policies [Line Items]
Master lease and the windstream leases revenue percentage					66.40%	65.80%	65.00%
Fiber Infrastructure
Summary Of Significant Accounting Policies [Line Items]
Goodwill impairment					$ 0	$ 71,000,000	$ 0
State Corporate Level Tax
Summary Of Significant Accounting Policies [Line Items]
Gain recognized from sale of assets after spinoff recognition period					10 years
Federal Corporate Level Tax
Summary Of Significant Accounting Policies [Line Items]
Gain recognized from sale of assets after spinoff recognition period					5 years
Cumulative Effect Adjustment for Adoption of New Accounting Standard
Summary Of Significant Accounting Policies [Line Items]
Change in accounting principle, ASU, Adopted	true
Change in accounting principle, ASU, Adoption date	Jan. 01, 2021
New Accounting Pronouncement or Change in Accounting Principle, Description	The Company elected to early adopt ASU 2020-06 effective January 1, 2021, using the modified retrospective transition method
Additional paid-in capital	$ (59,900,000)				$ (59,900,000)
Deferred tax liabilities	(15,800,000)				(15,800,000)
Retained earnings	14,600,000				$ 14,600,000
Accounting Standards Update ("ASU") No. 2016-02 \| Cumulative Effect Adjustment for Adoption of New Accounting Standard
Summary Of Significant Accounting Policies [Line Items]
Straight-line revenue receivable								(61,500,000)
Equity								(63,200,000)
Right of use assets and lease liabilities								$ 1,700,000
ASU 2021-05
Summary Of Significant Accounting Policies [Line Items]
Change in accounting principle, ASU, Adopted					true
Change in accounting principle, ASU, Adoption date					Jan. 01, 2022
Change in accounting principle, ASU, Immaterial effect					true
Maximum \| Warrants
Summary Of Significant Accounting Policies [Line Items]
Anti-dilution adjustments		27,800,000	27,800,000
Exchangeable Notes
Summary Of Significant Accounting Policies [Line Items]
Debt instrument amount		$ 345,000,000			$ 345,000,000
Issuance senior notes, stated percentage		4.00%			4.00%
Debt instrument, maturity date		Jun. 15, 2024			Jun. 15, 2024
Effective interest rate		11.10%
7.875% Senior Secured Notes
Summary Of Significant Accounting Policies [Line Items]
Debt instrument amount					$ 2,250,000,000	$ 2,250,000,000
Issuance senior notes, stated percentage					7.875%	7.875%
Debt instrument, maturity date					Feb. 15, 2025	Feb. 15, 2025
Debt instrument, maturity year					2025
Net leverage ratio					5.75%
Effective interest rate					8.38%	8.38%
Exchangeable Senior Unsecured Notes \| Cumulative Effect Adjustment for Adoption of New Accounting Standard
Summary Of Significant Accounting Policies [Line Items]
Debt instrument amount	336,500,000					$ 275,400,000
Increase in carrying amount of debt due to adoption	$ 61,100,000
Effective interest rate	4.80%					11.10%
Property Plant and Equipment, Net
Summary Of Significant Accounting Policies [Line Items]
Tenant funded capital improvements					$ 838,800,000	$ 767,200,000
Deferred Income Taxes
Summary Of Significant Accounting Policies [Line Items]
Unrecognized tax benefit					1,700,000
Finance Lease Assets
Summary Of Significant Accounting Policies [Line Items]
Accumulated amortization of finance lease assets					18,400,000	16,800,000
Tenant Capital Improvements \| Master Lease \| Windstream
Summary Of Significant Accounting Policies [Line Items]
Leasing revenue					39,000,000.0	35,100,000	29,000,000.0
Depreciation expense					$ 39,000,000.0	$ 35,100,000	$ 29,000,000.0

Revenues - Revenues Disaggregated by Revenue Stream (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disaggregation Of Revenue [Line Items]
Total revenue from contracts with customers	$ 255,422	$ 271,667	$ 295,033
Total revenues	1,100,522	1,067,041	1,057,611
Fiber Infrastructure
Disaggregation Of Revenue [Line Items]
Total revenue from contracts with customers	250,973	269,596	284,360
Total revenues	299,025	314,363	315,605
Fiber Infrastructure \| Lit Backhaul
Disaggregation Of Revenue [Line Items]
Total revenue from contracts with customers	86,915	106,125	125,983
Fiber Infrastructure \| Enterprise and Wholesale
Disaggregation Of Revenue [Line Items]
Total revenue from contracts with customers	86,390	78,702	66,545
Fiber Infrastructure \| E-Rate and Government
Disaggregation Of Revenue [Line Items]
Total revenue from contracts with customers	74,396	80,428	89,430
Fiber Infrastructure \| Other
Disaggregation Of Revenue [Line Items]
Total revenue from contracts with customers	3,272	4,341	2,402
Leasing
Disaggregation Of Revenue [Line Items]
Total revenue from contracts with customers	4,449	1,420
Total revenues	801,497	745,915	716,640
Consumer CLEC
Disaggregation Of Revenue [Line Items]
Total revenue from contracts with customers		651	10,673
Total revenues		651	10,673
ASU 2016-02
Disaggregation Of Revenue [Line Items]
Total revenues	845,100	795,374	762,578
ASU 2016-02 \| Fiber Infrastructure
Disaggregation Of Revenue [Line Items]
Total revenues	48,052	44,767	31,245
ASU 2016-02 \| Leasing
Disaggregation Of Revenue [Line Items]
Total revenues	$ 797,048	744,495	716,640
ASU 2016-02 \| Tower
Disaggregation Of Revenue [Line Items]
Total revenues		$ 6,112	$ 14,693

Revenues - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
ASU 2016-02
Revenue Recognition [Line Items]
Lease receivables	$ 19.4	$ 17.5
ASU 2014-09
Revenue Recognition [Line Items]
Receivables from contracts with customers	14.7	45.1
Revenue recognized that was included in the contract liability	13.2	$ 5.4	$ 4.7
Future revenues under contract	445.3
Contracts currently being invoiced	345.3
Backlog for sales bookings	$ 100.0
Average remaining contract term of backlog sales bookings	5 years 9 months 18 days

Revenues - Schedule of Contract Assets and Contract Liabilities (Details) - ASU 2014-09 $ in Thousands	Dec. 31, 2021 USD ($)
Deferred Revenue Arrangement [Line Items]
Balance, Contract Assets at December 31, 2020	$ 3,462
Balance, Contract Assets at December 31, 2021	4,066
Balance, Contract Liabilities at December 31, 2020	18,601
Balance, Contract Liabilities at December 31, 2021	$ 9,099

Revenues - Additional Information (Details 1)	Dec. 31, 2021
ASU 2014-09 \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2022-01-01
Revenue Recognition [Line Items]
Average remaining contract term for contracts currently billing	1 year 9 months 18 days

Leases - Additional Information (Details)				12 Months Ended
Leases - Additional Information (Details)	Jan. 01, 2022 USD ($)	Sep. 18, 2020 USD ($)	Sep. 18, 2018 Lease	Dec. 31, 2021 USD ($)
Leases [Line Items]
Lessor, operating lease, existence of option to extend [true false]				true
Lessor, lease option to extend, description				options to extend or renew the leases for less than one year to 20 years
Lessor, operating lease, existence of option to terminate [true false]				true
Lessor, lease option to terminate, description				options to terminate the leases within one to six months
Lessee, operating lease, existence of option to extend [true false]				true
Lessee, lease option to extend, description				options to extend or renew the leases for less than one year to 20 years
Lessee, operating lease, existence of option to terminate [true false]				true
Lessee, option to terminate, description				options to terminate the leases within one to six months
Short term lease commitments				$ 2,600,000
Number of master leases \| Lease			2
New lease, aggregate reimbursements made for certain growth capital improvements				319,600,000
Subsequent Event
Leases [Line Items]
New lease, aggregate reimbursements made for certain growth capital improvements	$ 13,400,000
Windstream
Leases [Line Items]
Lessor, initial lease term		19 years
New lease, aggregate reimbursements made for certain growth capital improvements				221,500,000
Growth Capital Improvements will exclude maintenance or repair expenditures except for costs incurred for fiber replacements to CLEC MLA leased property		$ 70,000,000
Future annual commitment payments for agreements due year one		125,000,000
Future annual commitment payments for agreements due year two through five		225,000,000
Future annual commitment payments for agreements due year six		175,000,000
Future annual commitment payments for agreements due year seven		175,000,000
Future annual commitment payments for agreements due year eight through ten		125,000,000
Cumulative growth capital improvements annual reimbursement commitment amount limit in subsequent period		$ 250,000,000
Annual rent adjustment for Growth Capital Funding		8.00%
Rate used for rent percentage		100.50%
Amount allowed for under the settlement represented the reimbursement of capital improvements				28,500,000
Windstream \| Other Assets
Leases [Line Items]
Lease incentive				900,000
ILEC MLA
Leases [Line Items]
Lease expiration date			Apr. 30, 2030
CLEC MLA
Leases [Line Items]
Lease expiration date			Apr. 30, 2030
CLEC MLA \| Windstream
Leases [Line Items]
Maximum funding rights allocated per year upon transfer of interests under Windstream lease		$ 20,000,000
Equipment Loan Agreement \| Windstream
Leases [Line Items]
New lease, aggregate reimbursements made for certain growth capital improvements				$ 25,000,000
Accrued interest rate for borrowing				8.00%
Windstream lease, aggregate reimbursements made for certain growth capital improvements, loan amount				$ 0
Minimum
Leases [Line Items]
Lessor, initial lease term				1 year
Lessor, lease renewal term				1 year
Lessor operating lease, termination				1 month
Lessee, initial lease term				1 year
Lessee, lease renewal term				1 year
Lessee, lease option to terminate, description				1 month
Minimum \| Windstream
Leases [Line Items]
Total leverage ratio				300.00%
Minimum \| Windstream \| Pro Forma
Leases [Line Items]
Total leverage ratio				350.00%
Maximum
Leases [Line Items]
Lessor, initial lease term				35 years
Lessor, lease renewal term				20 years
Lessor operating lease, termination				6 months
Lessee, initial lease term				30 years
Lessee, lease renewal term				20 years
Lessee, lease option to terminate, description				6 months
Total leverage ratio				6.50%
Maximum \| Windstream
Leases [Line Items]
New lease, aggregate reimbursements made for certain growth capital improvements		$ 1,750,000,000		$ 1,750,000,000
Maximum \| Windstream \| Senior Secured Revolving Credit Facility
Leases [Line Items]
Issuance senior notes, stated percentage				750,000,000
Maximum \| Equipment Loan Agreement \| Windstream
Leases [Line Items]
New lease, aggregate reimbursements made for certain growth capital improvements				$ 125,000,000

Leases - Components of Lease Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Leases [Abstract]
Lease income - operating leases	$ 845,100	$ 795,374

Leases - Lease Payments to be Received under Non-Cancellable Operating Leases (Details)
$ in Thousands

Dec. 31, 2021

USD ($)

^[1]

Leases [Abstract]

$ 755,658

767,822

769,220

770,575

772,204

3,020,118

Total lease receivables

$ 6,855,597

[1]	Total future minimum lease payments to be received include $5.9 billion relating to the Master Lease with Windstream.

Leases - Lease Payments to be Received under Non-Cancellable Operating Leases (Parenthetical) (Details)
$ in Thousands

Dec. 31, 2021

USD ($)

Lessee Lease Description [Line Items]

Total future minimum lease payments to be received

$ 6,855,597

^[1]

Master Lease

Lessee Lease Description [Line Items]

Total future minimum lease payments to be received

$ 5,900,000

[1]	Total future minimum lease payments to be received include $5.9 billion relating to the Master Lease with Windstream.

Leases - Schedule of Underlying Assets under Operating Leases (Details) - USD ($)
$ in Thousands

Dec. 31, 2021

Dec. 31, 2020

Less: accumulated depreciation

$ 7,978,363

$ 7,608,978

(5,391,479)

(5,222,731)

Underlying assets under operating leases, net

2,586,884

2,386,247

Land

Building and Improvements

26,593

26,596

343,624

335,495

Poles

281,130

266,758

Fiber

3,278,276

2,994,465

Equipment

428

421

Copper

3,918,281

3,850,988

Conduit

89,859

89,773

Tower assets

1,397

Finance Lease Assets

^[1]

28,126

32,660

Other assets

Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]

$ 10,649

$ 10,425

[1]	December 31, 2020 balance includes $4.5 million assets under operating leases sold on May 28, 2021. See Note 6.

Leases - Schedule of Underlying Assets under Operating Leases (Parenthetical) (Details) $ in Millions	Dec. 31, 2020 USD ($)
Uniti Fiber Northeast Operations and Dark Fiber IRU Contracts \| Disposal Group, Held for Sale, Not qualified as Discontinued Operation
Lessor Lease Description [Line Items]
Assets under operating leases	$ 4.5

Leases - Schedule of Depreciation Expense for Underlying Assets under Operating Leases (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Leases [Abstract]
Depreciation expense for underlying assets under operating leases	$ 178,348	$ 209,946

Leases - Components of Lease Cost (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Leases [Abstract]
Amortization of ROU assets	$ 4,649	$ 3,702
Interest on lease liabilities	2,383	3,807
Total finance lease cost	7,032	7,509
Operating lease cost	18,886	24,080
Short-term lease cost	2,885	2,029
Variable lease cost	492	679
Less sublease income	(12,752)	(12,273)
Total lease cost	$ 16,543	$ 22,024

Leases - Summary of Amounts Reported in Consolidated Balance Sheets for Leases (Details) - USD ($)
$ in Thousands

Dec. 31, 2021

Dec. 31, 2020

Operating leases

ROU asset, net

^[1]

$ 80,271

$ 97,850

Other assets, net

ROU liability

^[2]

$ 57,349

$ 71,483

Operating Lease, Liability, Statement of Financial Position [Extensible List]

us-gaap:AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent

Finance leases

ROU asset, gross

^[3]

$ 72,284

$ 128,098

Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]

Other assets, net

ROU liability

^[4]

$ 15,348

$ 48,724

Finance Lease, Liability, Statement of Financial Position [Extensible List]

us-gaap:OtherLiabilities

Weighted-average remaining lease term

Operating leases

9 years 4 months 24 days

12 years 2 months 12 days

Finance leases

12 years 9 months 18 days

13 years 3 months 18 days

Weighted-average discount rate

Operating leases

8.60%

9.90%

Finance leases

10.60%

8.00%

[1]	December 31, 2020 balance includes $20.7 million ROU assets sold on May 28, 2021. See Note 6.
[2]	December 31, 2020 balance includes $17.6 million lease liabilities sold on May 28, 2021. See Note 6.
[3]	December 31, 2020 balance includes $54.0 million finance lease assets sold on May 28, 2021. See Note 6.
[4]	December 31, 2020 balance includes $33.3 million finance lease obligations sold on May 28, 2021. See Note 6.

Leases - Summary of Amounts Reported in Consolidated Balance Sheets for Leases (Parenthetical) (Details) - Uniti Fiber Northeast Operations and Dark Fiber IRU Contracts - Disposal Group, Held for Sale, Not qualified as Discontinued Operation $ in Millions	Dec. 31, 2020 USD ($)
Lessee Lease Description [Line Items]
ROU assets	$ 20.7
Lease liabilities	17.6
Finance lease assets	54.0
Finance lease obligations	$ 33.3

Leases - Schedule of Other Information Related to Leases (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows for finance leases	$ 2,383	$ 3,807
Operating cash flows for operating leases	22,471	28,485
Financing cash flows for finance leases	2,019	3,702	$ 4,257
Non-cash items:
New operating leases and remeasurements, net	$ 15,230	2,681
New finance leases		$ 31

Leases - Future Lease Payments under Non-Cancellable Leases (Details) - USD ($)
$ in Thousands

Dec. 31, 2021

Dec. 31, 2020

$ 14,348

12,381

10,087

7,504

4,918

36,283

Total undiscounted lease payments

85,521

Less: imputed interest

(28,172)

Total lease liabilities

^[1]

57,349

$ 71,483

Finance Leases

2,329

2,285

2,083

2,021

2,021

14,702

Total undiscounted lease payments

25,441

Less: imputed interest

(10,093)

Total lease liabilities

^[2]

$ 15,348

$ 48,724

[1]	December 31, 2020 balance includes $17.6 million lease liabilities sold on May 28, 2021. See Note 6.
[2]	December 31, 2020 balance includes $33.3 million finance lease obligations sold on May 28, 2021. See Note 6.

Leases - Future Sublease Rentals (Details) $ in Thousands	Dec. 31, 2021 USD ($)
Leases [Abstract]
2022	$ 9,542
2023	9,558
2024	9,661
2025	9,748
2026	9,833
Thereafter	133,585
Total	$ 181,927

Business Combinations, Asset Acquisitions and Dispositions - Additional Information (Details) $ in Thousands, FiberStrandMile in Millions, FiberRoute in Millions								3 Months Ended				12 Months Ended
	May 28, 2021 USD ($)	Sep. 18, 2020 USD ($) FiberStrandMile FiberRoute	Jul. 01, 2020 USD ($)	Jun. 01, 2020 USD ($)	Aug. 30, 2019 USD ($) mi	Apr. 02, 2019 USD ($)	Mar. 25, 2019 USD ($)	Jun. 30, 2021 USD ($)	Sep. 30, 2020 USD ($)	Jun. 30, 2020 USD ($)	Jun. 30, 2019 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2020 USD ($)	Sep. 30, 2019 USD ($)
Business Acquisition [Line Items]
Total cash consideration											$ 30,700				$ 2,900
Gain related to transaction											$ 5,000
Net loss on sale of operations												$ (28,143)	$ 2,242
Goodwill												$ 601,878	$ 690,672	$ 601,878
Bluebird Fiber Network
Business Acquisition [Line Items]
Intangible asset acquired					$ 175,401
Number of fiber stand miles \| mi					178,000
Total consideration					$ 320,800
Transaction costs					1,800
Cash paid for business acquisition					175,000
Prepaid rent to be transferred for consideration					144,000
Right of use assets acquired					8,900
Right of use liabilities acquired					3,100
Bluebird Fiber Network \| Rights of Way
Business Acquisition [Line Items]
Intangible asset acquired					$ 124,700
Acquired finite-lived intangible assets, weighted average useful life					30 years
JKM Consulting Inc.
Business Acquisition [Line Items]
Cash paid for business acquisition							$ 5,500
Goodwill							$ 1,700
Business acquisition date												Mar. 25, 2019
Percentage of equity acquired							100.00%
Melody Investment Advisors \| United States \| Tower
Business Acquisition [Line Items]
Total cash consideration				$ 225,800
Gain related to transaction										$ 63,400
Net assets value				$ 190,000
Investment interest retained, percentage				10.00%
Fair value of retained investment interest				$ 26,000
Incremental earn-out payments, estimated to be received				$ 1,600
In-place Lease \| Bluebird Fiber Network
Business Acquisition [Line Items]
Intangible asset acquired					$ 50,700
Acquired finite-lived intangible assets, weighted average useful life					20 years
Lessor, initial lease term					20 years
Windstream
Business Acquisition [Line Items]
Payments to acquire assets		$ 284,600
Dark fiber indefeasible rights of use contracts and access rights \| FiberStrandMile		1.8
Fiber strand miles of fiber assets conveyed \| FiberStrandMile		0.4
Fiber route miles of fiber assets conveyed \| FiberRoute		4,000
IRU annual EBITDA from fiber strand miles conveyed		$ 28,900
Intangible asset acquired		$ 69,800
Lessor, initial lease term		19 years
Acquired right of use assets		$ 27,600
Windstream \| Contracts
Business Acquisition [Line Items]
Intangible asset acquired		$ 59,300
Acquired finite-lived intangible assets, weighted average useful life		8 years
Windstream \| Underlying Rights
Business Acquisition [Line Items]
Intangible asset acquired		$ 10,500
Acquired finite-lived intangible assets, weighted average useful life		30 years
Propco \| MIP
Business Acquisition [Line Items]
Total cash consideration			$ 167,600
Gain related to transaction									$ 23,000
Net assets value			$ 186,500
Investment interest retained, percentage			20.00%
Fair value of retained investment interest			$ 41,900
Uniti Fibers Midwest
Business Acquisition [Line Items]
Sale of operation for cash consideration and prepaid rent received					$ 37,000
Net loss on sale of operations					2,200
Goodwill					$ 2,200
Uniti Towers Business \| Latin American
Business Acquisition [Line Items]
Total cash consideration						$ 101,600
Gain related to transaction						$ 23,800
Everstream Solutions LLC
Business Acquisition [Line Items]
Total cash consideration	$ 62,113
Net assets value	$ 89,584
Everstream Solutions LLC \| IRU Lease Agreements
Business Acquisition [Line Items]
Lease agreements, term	20 years
Management fee receivable	$ 3,000
Annual escalator	2.00%
Everstream Solutions LLC \| IRU Lease Agreements \| Gain on Sale of Operations
Business Acquisition [Line Items]
Gain related to transaction								$ 28,100
Everstream Solutions LLC \| Uniti Fiber Northeast Operations And Certain Dark Fiber Indefeasible Rights Of Use Contracts
Business Acquisition [Line Items]
Total cash consideration	$ 135,000

Business Combinations, Asset Acquisitions and Dispositions - Schedule of Assets and Liabilities Sold (Details) - USD ($) $ in Thousands		12 Months Ended
	May 28, 2021	Dec. 31, 2021	Dec. 31, 2020	Sep. 30, 2019	Jun. 30, 2019
Liabilities:
Total liabilities			$ 55,752
Cash consideration				$ 2,900	$ 30,700
Gain on sale of operations		$ 28,143
Everstream Solutions LLC
Assets:
Property, plant and equipment, net	$ 44,685
Goodwill	17,794
Intangible assets, net	7,264
Right of use assets, net	19,841
Total assets	89,584
Liabilities:
Lease liabilities	18,779
Intangible liabilities, net	4,492
Finance lease obligations	32,343
Total liabilities	55,614
Cash consideration	62,113
Less: total assets and liabilities sold, net	(33,970)
Gain on sale of operations	$ 28,143

Business Combinations, Asset Acquisitions and Dispositions - Summary of Estimated Fair Values of Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Sep. 18, 2020	Aug. 30, 2019
Windstream
Consideration:
Asset Purchase Agreement	$ 284,550
Fair value of settlement obligation	438,577
Total consideration	723,127
Fair values of the assets acquired and liabilities assumed as of the acquisition date:
Property, plant and equipment	170,754
Intangible assets, net	69,832
Other assets	27,632
Intangible liabilities, net	(195,091)
Total assets acquired, net	73,127
Settlement expense	650,000
Total consideration	$ 723,127
Bluebird Fiber Network
Consideration:
Total consideration		$ 320,800
Fair values of the assets acquired and liabilities assumed as of the acquisition date:
Property, plant and equipment		139,566
Intangible assets, net		175,401
Other assets		8,946
Total assets acquired, net		320,818
Total consideration		320,800
Accounts payable, accrued expenses and other liabilities		$ (3,095)

Investment in Unconsolidated Entities - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Variable Interest Entity, Not Primary Beneficiary
Schedule Of Equity Method Investments [Line Items]
Aggregate investment in equity method	$ 64.2
BB Fiber Holdings LLC
Schedule Of Equity Method Investments [Line Items]
Percentage of ownership interest in Propco under long-term, triple net lease	47.50%
Percentage of economic interest in Propco	20.00%
Current investment and maximum exposure to loss result of involvement	$ 39.9
BB Fiber Holdings LLC \| Variable Interest Entity, Not Primary Beneficiary
Schedule Of Equity Method Investments [Line Items]
Percentage of ownership interest	42.00%
Harmoni \| Variable Interest Entity, Not Primary Beneficiary
Schedule Of Equity Method Investments [Line Items]
Percentage of ownership interest	7.00%
Current investment and maximum exposure to loss	$ 24.3
Transition service fees earned	$ 0.3	$ 0.7

Fair Value of Financial Instruments - Schedule of Fair Value Valuation of Financial Instruments (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Liabilities
Derivative liability, net	$ 10,413	$ 22,897
Settlement payable	254,725	418,840
Contingent consideration		2,957
Total	5,578,491	5,666,340
7.875% Senior Secured Notes
Liabilities
Senior notes	2,351,576	2,410,313
6.00% Senior Secured Notes
Liabilities
Senior notes		561,000
4.75% Senior Secured Notes
Liabilities
Senior notes	560,857
6.50% Senior Unsecured Notes
Liabilities
Senior notes	1,087,844
8.25% Senior Unsecured Notes
Liabilities
Senior notes		1,112,775
6.00% Senior Secured Notes
Liabilities
Senior notes	659,992
Exchangeable Senior Unsecured Notes - 4.00%, due June 15, 2024
Liabilities
Senior notes	453,104	426,058
Senior Secured Revolving Credit Facility
Liabilities
Senior secured loan	199,980	110,000
7.125% Senior Unsecured Notes
Liabilities
Senior notes		601,500
Prices with Other Observable Inputs (Level 2)
Liabilities
Derivative liability, net	10,413	22,897
Settlement payable	254,725	418,840
Total	5,578,491	5,663,383
Prices with Other Observable Inputs (Level 2) \| 7.875% Senior Secured Notes
Liabilities
Senior notes	2,351,576	2,410,313
Prices with Other Observable Inputs (Level 2) \| 6.00% Senior Secured Notes
Liabilities
Senior notes		561,000
Prices with Other Observable Inputs (Level 2) \| 4.75% Senior Secured Notes
Liabilities
Senior notes	560,857
Prices with Other Observable Inputs (Level 2) \| 6.50% Senior Unsecured Notes
Liabilities
Senior notes	1,087,844
Prices with Other Observable Inputs (Level 2) \| 8.25% Senior Unsecured Notes
Liabilities
Senior notes		1,112,775
Prices with Other Observable Inputs (Level 2) \| 6.00% Senior Secured Notes
Liabilities
Senior notes	659,992
Prices with Other Observable Inputs (Level 2) \| Exchangeable Senior Unsecured Notes - 4.00%, due June 15, 2024
Liabilities
Senior notes	453,104	426,058
Prices with Other Observable Inputs (Level 2) \| Senior Secured Revolving Credit Facility
Liabilities
Senior secured loan	$ 199,980	110,000
Prices with Other Observable Inputs (Level 2) \| 7.125% Senior Unsecured Notes
Liabilities
Senior notes		601,500
Prices with Unobservable Inputs (Level 3)
Liabilities
Contingent consideration		2,957
Total		$ 2,957

Fair Value of Financial Instruments - Schedule of Fair Value Valuation of Financial Instruments (Parenthetical) (Details)				12 Months Ended
	Oct. 13, 2021	Feb. 02, 2021	Jun. 24, 2019	Dec. 31, 2021	Dec. 31, 2020
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Issuance senior notes, stated percentage				7.875%
7.875% Senior Secured Notes
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Issuance senior notes, stated percentage				7.875%	7.875%
Debt instrument, maturity date				Feb. 15, 2025	Feb. 15, 2025
6.00% Senior Secured Notes
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Issuance senior notes, stated percentage				6.00%	6.00%
Debt instrument, maturity date				Apr. 15, 2023	Apr. 15, 2023
4.75% Senior Secured Notes
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Issuance senior notes, stated percentage				4.75%	4.75%
Debt instrument, maturity date				Apr. 15, 2028	Apr. 15, 2028
6.50% Senior Unsecured Notes
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Issuance senior notes, stated percentage				6.50%	6.50%
Debt instrument, maturity date				Feb. 15, 2029	Feb. 15, 2029
8.25% Senior Unsecured Notes
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Issuance senior notes, stated percentage		8.25%		8.25%	8.25%
Debt instrument, maturity date		Oct. 15, 2023		Oct. 15, 2023	Oct. 15, 2023
6.00% Senior Unsecured Notes due January 15, 2030
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Issuance senior notes, stated percentage				6.00%	6.00%
Debt instrument, maturity date				Jan. 15, 2030	Jan. 15, 2030
Exchangeable Senior Unsecured Notes - 4.00%, due June 15, 2024
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Issuance senior notes, stated percentage				4.00%	4.00%
Debt instrument, maturity date				Jun. 15, 2024	Jun. 15, 2024
Senior Secured Revolving Credit Facility
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Debt instrument, maturity date			Apr. 24, 2022	Dec. 10, 2024	Dec. 10, 2024
Debt instrument, original maturity date					Apr. 24, 2022
7.125% Senior Unsecured Notes
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Issuance senior notes, stated percentage				7.125%	7.125%
Debt instrument, maturity date	Dec. 15, 2024			Dec. 15, 2024	Dec. 15, 2024

Fair Value of Financial Instruments - Additional Information (Details) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2021 USD ($)	Dec. 31, 2021 USD ($) Installment	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Principal amount of notes and other debt		$ 5,175,000	$ 4,965,000
Remaining value of settlement payable		239,384	418,840
Payments of contingent consideration		2,979	15,713	$ 32,253
Increase in fair value of contingent consideration liability		21	7,163	$ (28,463)
Maximum
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Increase in fair value of contingent consideration liability	$ 100
Tower Cloud, Inc.
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Payments for the achievement of final remaining milestone	$ 3,000
Payments of contingent consideration			$ 15,700
Windstream
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Cash payment in equal installments emergence from bankruptcy		$ 490,100
Number of installments \| Installment		20
Prices with Other Observable Inputs (Level 2)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Notes and other debt, fair value		$ 5,310,000

Fair Value of Financial Instruments - Roll Forward of Liability Measured at Fair Value on Recurring Basis Using Unobservable Inputs (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021 USD ($)
Fair Value Disclosures [Abstract]
Contingent consideration, beginning balance	$ 2,957
(Gain)/Loss included in earnings	22
Settlements	$ (2,979)

Property, Plant and Equipment - Schedule of Carrying Value of Property, Plant and Equipment (Details) - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2021

Dec. 31, 2020

Less accumulated depreciation

$ 9,250,151

$ 8,776,840

(5,741,212)

(5,503,487)

Property, plant and equipment, net

3,508,939

3,273,353

Land

Building and Improvements

28,449

27,945

Building and Improvements | Minimum

$ 359,980

351,305

Building and Improvements | Maximum

^[1]

3 years

^[1]

40 years

Poles

^[1]

30 years

$ 281,130

266,758

Fiber

^[1]

30 years

$ 4,107,519

3,737,372

Equipment

$ 331,761

298,912

Equipment | Minimum

^[1]

5 years

Equipment | Maximum

^[1]

7 years

Copper

^[1]

20 years

$ 3,918,281

3,850,987

Conduit

^[1]

30 years

$ 89,859

89,773

Tower assets

^[1]

20 years

$ 8,544

8,571

Finance Lease Assets

Less accumulated depreciation

72,284

74,103

(18,400)

(16,800)

Construction in progress

27,366

47,086

Other assets

$ 10,652

10,553

Other assets | Minimum

^[1]

15 years

Other assets | Maximum

^[1]

20 years

Corporate assets

Corporate assets | Minimum

$ 14,326

$ 13,475

Corporate assets | Maximum

^[1]

3 years

^[1]

7 years

[1]	Certain property acquired from Windstream is depreciated using Windstream's estimated useful lives. Specifically, certain Fiber assets are depreciated using a 20 year life.

Property, Plant and Equipment - Schedule of Carrying Value of Property, Plant and Equipment (Parenthetical) (Details) - Fiber

12 Months Ended

Dec. 31, 2021

30 years

^[1]

Windstream

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

20 years

[1]	Certain property acquired from Windstream is depreciated using Windstream's estimated useful lives. Specifically, certain Fiber assets are depreciated using a 20 year life.

Property, Plant and Equipment - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Property Plant And Equipment [Abstract]
Depreciation expense	$ 261.2	$ 301.2	$ 377.3

Derivative Instruments and Hedging Activities - Additional Information (Details) - USD ($)					12 Months Ended
	Jun. 28, 2019	Jun. 27, 2019	Jun. 25, 2019	Apr. 27, 2015	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Derivative Instruments And Hedging Activities Disclosures [Line Items]
Unrealized gain (loss) on derivative instruments						$ 7,700,000	$ 51,300,000
Reclassification out of other comprehensive income into interest (expense) benefit					$ (446,296,000)	(497,128,000)	(390,112,000)
Ineffective portions of change in fair value derivatives					0	0	0
Estimated amount to be reclassified as an increase to interest expense					$ 9,200,000
Common stock aggregate at an exercise price	$ 16.42		$ 16.42
Warrants expiring period					2024-09
Proceeds from offering and sale of warrants					$ 50,800,000		50,819,000
Exchangeable Notes
Derivative Instruments And Hedging Activities Disclosures [Line Items]
Approximately net of proceeds from total offering exchangeable notes to pay cost of notes hedges		$ 70,000,000.0
Reclassification Out of Other Comprehensive Income \| Designated as Cash Flow Hedges
Derivative Instruments And Hedging Activities Disclosures [Line Items]
Reclassification out of other comprehensive income into interest (expense) benefit					$ (11,300,000)	$ (10,800,000)	$ 3,300,000
Maximum
Derivative Instruments And Hedging Activities Disclosures [Line Items]
Maximum number of shares issued pursuant to warrants			55,500,000
Maximum \| Warrants
Derivative Instruments And Hedging Activities Disclosures [Line Items]
Anti-dilution adjustments	27,800,000		27,800,000
Interest Rate Swap
Derivative Instruments And Hedging Activities Disclosures [Line Items]
Derivative, notional value				$ 2,000,000,000.00
Derivative, maturity date				Oct. 24, 2022

Derivative Instruments and Hedging Activities - Summary of Gross Amount of Derivative Instruments Subject to Master Netting Arrangements With Same Counterparty (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Offsetting Assets And Liabilities [Line Items]
Gross Amounts of Recognized Assets	$ 10,788
Gross Amounts Offset in the Consolidated Balance Sheets	(10,788)
Gross Amounts of Recognized Liabilities	21,201
Gross Amounts Offset in the Consolidated Balance Sheets	(10,788)
Net Amounts of Assets or Liabilities presented in the Consolidated Balance Sheets	10,413	$ 22,897
Interest Rate Swap
Offsetting Assets And Liabilities [Line Items]
Gross Amounts of Recognized Assets	10,788
Gross Amounts Offset in the Consolidated Balance Sheets	(10,788)
Gross Amounts of Recognized Liabilities	21,201
Gross Amounts Offset in the Consolidated Balance Sheets	(10,788)
Net Amounts of Assets or Liabilities presented in the Consolidated Balance Sheets	$ 10,413	$ 22,897

Derivative Instruments and Hedging Activities - Summary of Fair Value of Derivative Instruments and Presentation in Consolidated Balance Sheet (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Derivatives Fair Value [Line Items]
Derivative liability, net	$ 10,413	$ 22,897
Interest Rate Swap
Derivatives Fair Value [Line Items]
Derivative liability, net	$ 10,413	$ 22,897

Goodwill and Intangible Assets - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Finite Lived Intangible Assets [Line Items]
Goodwill reclassified to held for sale		$ 17,794,000
Intangible assets reclassified to held for sale		10,700,000
Remaining weighted average amortization period of intangible assets	14 years 10 months 24 days
Remaining weighted average amortization period of intangible liabilities	17 years 10 months 24 days
Amortization	$ 29,800,000	28,200,000	$ 27,200,000
Estimated amortization expense for 2022	29,700,000
Estimated amortization expense for 2023	29,800,000
Estimated amortization expense for 2024	29,700,000
Estimated amortization expense for 2025	29,700,000
Estimated amortization expense for 2026	29,700,000
Revenue related to amortization of below-market leases	10,700,000	$ 0	$ 0
Estimated revenue due to amortization, 2022	10,700,000
Estimated revenue due to amortization, 2023	10,700,000
Estimated revenue due to amortization, 2024	10,700,000
Estimated revenue due to amortization, 2025	10,700,000
Estimated revenue due to amortization, 2026	$ 10,700,000

Goodwill and Intangible Assets - Schedule of Carrying Amount of Goodwill (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Goodwill [Line Items]
Goodwill at December 31, 2019	$ 601,878,000	$ 690,672,000
Goodwill impairment (Note 3)		(71,000,000)
Goodwill reclassified to held for sale		(17,794,000)
Goodwill at December 31, 2020	601,878,000	601,878,000	$ 690,672,000
Fiber Infrastructure
Goodwill [Line Items]
Goodwill at December 31, 2019	601,878,000	690,672,000
Goodwill impairment (Note 3)	0	(71,000,000)	0
Goodwill reclassified to held for sale		(17,794,000)
Goodwill at December 31, 2020	$ 601,878,000	$ 601,878,000	$ 690,672,000

Goodwill and Intangible Assets - Schedule of Carrying Value of Other Intangible Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Schedule Of Indefinite And Finite Lived Intangible Assets And Liabilities [Line Items]
Total intangible assets, Original Cost	$ 479,137	$ 474,870
Less: accumulated amortization	(114,507)	(84,145)
Total intangible assets, net	364,630	390,725
Less: accumulated amortization	(13,368)	(2,200)
Total intangible liabilities, net	177,786	187,886
Customer Lists
Schedule Of Indefinite And Finite Lived Intangible Assets And Liabilities [Line Items]
Finite life intangible assets, Original Cost	416,104	416,104
Less: accumulated amortization	(105,861)	(82,989)
Contracts
Schedule Of Indefinite And Finite Lived Intangible Assets And Liabilities [Line Items]
Finite life intangible assets, Original Cost	52,536	48,269
Less: accumulated amortization	(8,209)	(1,068)
Underlying Rights
Schedule Of Indefinite And Finite Lived Intangible Assets And Liabilities [Line Items]
Finite life intangible assets, Original Cost	10,497	10,497
Less: accumulated amortization	(437)	(87)
Acquired Below-market Leases
Schedule Of Indefinite And Finite Lived Intangible Assets And Liabilities [Line Items]
Total intangible liabilities	191,154	190,086
Less: accumulated amortization	$ (13,368)	$ (2,200)

Notes and Other Debt - Schedule of Notes and Other Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 10, 2020	Jun. 24, 2019
Debt Instrument [Line Items]
Principal amount of notes and other debt	$ 5,175,000	$ 4,965,000
Less unamortized discount, premium and debt issuance costs	(84,463)	(148,476)
Notes and other debt less unamortized discount and debt issuance costs	5,090,537	4,816,524
Senior Secured Notes - 6.00% Due April15, 2023
Debt Instrument [Line Items]
Principal amount of notes and other debt		550,000
Less unamortized discount, premium and debt issuance costs		(4,053)
Senior Secured Notes - 7.875% Due February 15, 2025
Debt Instrument [Line Items]
Principal amount of notes and other debt	2,250,000	2,250,000
Less unamortized discount, premium and debt issuance costs	(31,411)	(39,852)
Senior Secured Notes - 4.75% Due April 15, 2028
Debt Instrument [Line Items]
Principal amount of notes and other debt	570,000
Less unamortized discount, premium and debt issuance costs	(8,886)
Senior Unsecured Notes - 8.25% Due October 15, 2023
Debt Instrument [Line Items]
Principal amount of notes and other debt		1,110,000
Less unamortized discount, premium and debt issuance costs		(22,024)
Exchangeable Senior Unsecured Notes - 4.00%, due June 15, 2024
Debt Instrument [Line Items]
Principal amount of notes and other debt	345,000	345,000
Less unamortized discount, premium and debt issuance costs	(6,187)	(69,608)
Senior Unsecured Notes - 7.125% Due December 15, 2024
Debt Instrument [Line Items]
Principal amount of notes and other debt		600,000
Less unamortized discount, premium and debt issuance costs		(5,316)
Senior Unsecured Notes - 6.50%, Due February 15, 2029
Debt Instrument [Line Items]
Principal amount of notes and other debt	1,110,000
Less unamortized discount, premium and debt issuance costs	(20,797)
Senior Unsecured Notes - 6.00%, Due January 15, 2030
Debt Instrument [Line Items]
Principal amount of notes and other debt	700,000
Less unamortized discount, premium and debt issuance costs	(11,689)
Senior Secured Revolving Credit Facility
Debt Instrument [Line Items]
Principal amount of notes and other debt	200,000	110,000	$ 560,500	$ 575,900
Less unamortized discount, premium and debt issuance costs	$ (5,493)	$ (7,623)

Notes and Other Debt - Schedule of Notes and Other Debt (Parenthetical) (Details)				12 Months Ended
	Oct. 13, 2021	Feb. 02, 2021	Jun. 24, 2019	Dec. 31, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Issuance senior notes, stated percentage				7.875%
Senior Secured Notes - 6.00% Due April15, 2023
Debt Instrument [Line Items]
Debt instrument, maturity date				Apr. 15, 2023	Apr. 15, 2023
Issuance senior notes, stated percentage				6.00%	6.00%
Effective interest rate				6.49%	6.49%
Senior Secured Notes - 7.875% Due February 15, 2025
Debt Instrument [Line Items]
Debt instrument, maturity date				Feb. 15, 2025	Feb. 15, 2025
Issuance senior notes, stated percentage				7.875%	7.875%
Effective interest rate				8.38%	8.38%
Senior Secured Notes - 4.75% Due April 15, 2028
Debt Instrument [Line Items]
Debt instrument, maturity date				Apr. 15, 2028	Apr. 15, 2028
Issuance senior notes, stated percentage				4.75%	4.75%
Effective interest rate				5.04%	5.04%
Senior Unsecured Notes - 8.25% Due October 15, 2023
Debt Instrument [Line Items]
Debt instrument, maturity date		Oct. 15, 2023		Oct. 15, 2023	Oct. 15, 2023
Issuance senior notes, stated percentage		8.25%		8.25%	8.25%
Effective interest rate				9.06%	9.06%
Exchangeable Senior Unsecured Notes - 4.00%, due June 15, 2024
Debt Instrument [Line Items]
Debt instrument, maturity date				Jun. 15, 2024	Jun. 15, 2024
Issuance senior notes, stated percentage				4.00%	4.00%
Effective interest rate				4.77%	4.77%
Senior Unsecured Notes - 7.125% Due December 15, 2024
Debt Instrument [Line Items]
Debt instrument, maturity date	Dec. 15, 2024			Dec. 15, 2024	Dec. 15, 2024
Issuance senior notes, stated percentage				7.125%	7.125%
Effective interest rate				7.38%	7.38%
Senior Unsecured Notes - 6.50%, Due February 15, 2029
Debt Instrument [Line Items]
Debt instrument, maturity date				Feb. 15, 2029	Feb. 15, 2029
Issuance senior notes, stated percentage				6.50%	6.50%
Effective interest rate				6.83%	6.83%
Senior Unsecured Notes - 6.00%, Due January 15, 2030
Debt Instrument [Line Items]
Debt instrument, maturity date				Jan. 15, 2030	Jan. 15, 2030
Issuance senior notes, stated percentage				6.00%	6.00%
Effective interest rate				6.27%	6.27%
Senior Secured Revolving Credit Facility
Debt Instrument [Line Items]
Debt instrument, maturity date			Apr. 24, 2022	Dec. 10, 2024	Dec. 10, 2024

Notes and Other Debt - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands										3 Months Ended	12 Months Ended
	Dec. 15, 2021	Oct. 13, 2021	May 06, 2021	Feb. 02, 2021	Jan. 01, 2021	Dec. 10, 2020	Feb. 10, 2020	Jun. 28, 2019	Jun. 24, 2019	Jun. 30, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Apr. 20, 2021
Debt Instrument [Line Items]
Debt instrument amount											$ 5,175,000	$ 4,965,000
Issuance senior notes, stated percentage											7.875%
Percentage of pay cash dividends in excess of taxable income											90.00%
Debt instrument, debt default, description of violation or event of default											In particular, a repayment obligation could be triggered if (i) the Borrowers or certain of their subsidiaries fail to make a payment when due of any principal or interest on any other indebtedness aggregating $75.0 million or more, or (ii) an event occurs that causes, or would permit the holders of any other indebtedness aggregating $75.0 million or more to cause, such indebtedness to become due prior to its stated maturity.
Debt Instrument, debt default, amount											$ 75,000
Repayments of debt											2,260,000	2,044,728
Cash interest expense for tender premium											446,296	497,128	$ 390,112
Interest rate payment terms		Interest on the 2030 Notes is payable on January 15 and July 15 of each year, beginning on July 15, 2022
Additional paid-in capital											1,214,830	1,209,141
Deferred tax liabilities												10,540
Amortization of deferred financing costs											16,500	15,300	$ 16,200
Cumulative Effect Adjustment for Adoption of New Accounting Standard
Debt Instrument [Line Items]
Additional paid-in capital					$ (59,900)						(59,900)
Deferred tax liabilities					(15,800)						(15,800)
Retained earnings					14,600						$ 14,600
Maximum
Debt Instrument [Line Items]
Consolidated secured leverage ratio											5.00%
Total leverage ratio											6.50%
Maximum \| Pro Forma
Debt Instrument [Line Items]
Consolidated secured leverage ratio											4.00%
Minimum \| Windstream
Debt Instrument [Line Items]
Total leverage ratio											300.00%
Minimum \| Pro Forma \| Windstream
Debt Instrument [Line Items]
Total leverage ratio											350.00%
Senior Secured Revolving Credit Facility
Debt Instrument [Line Items]
Debt instrument amount						$ 560,500			$ 575,900		$ 200,000	$ 110,000
Debt instrument, maturity date									Apr. 24, 2022		Dec. 10, 2024	Dec. 10, 2024
Debt instrument, payable pursuant to fifth amendment									$ 101,600
Debt instrument, non extended maturity amount									$ 72,400
Repayments of debt								$ 174,000
Commitment fee percentage of average amount of unused commitments											0.50%
Commitment fee step-down percentage of average amount of unused commitments											0.40%
Senior Secured Revolving Credit Facility \| Maximum \| Windstream
Debt Instrument [Line Items]
Issuance of senior notes, principal amount											$ 750,000
7.875% Senior Secured Notes
Debt Instrument [Line Items]
Debt instrument amount											$ 2,250,000	$ 2,250,000
Issuance senior notes, stated percentage											7.875%	7.875%
Debt instrument, maturity year											2025
Debt instrument, maturity date											Feb. 15, 2025	Feb. 15, 2025
Net leverage ratio											5.75%
Debt discount amortized to interest expense effective interest rate											8.38%	8.38%
7.875% Senior Secured Notes \| Operating Partnership, CSL Capital, LLC, Uniti Group Finance 2019 Inc. and Uniti Fiber
Debt Instrument [Line Items]
Issuance senior notes, stated percentage							7.875%
Debt instrument, maturity date							Feb. 15, 2025
Issuance of senior notes, principal amount							$ 2,250,000
6.00% Senior Secured Notes
Debt Instrument [Line Items]
Debt instrument amount											$ 700,000
Issuance senior notes, stated percentage											6.00%
Debt instrument, maturity date											Jan. 15, 2030
4.75% Senior Secured Notes
Debt Instrument [Line Items]
Debt instrument amount											$ 570,000
Issuance senior notes, stated percentage											4.75%	4.75%
Debt instrument, maturity date											Apr. 15, 2028	Apr. 15, 2028
Debt discount amortized to interest expense effective interest rate											5.04%	5.04%
6.50% Senior Unsecured Notes
Debt Instrument [Line Items]
Debt instrument amount											$ 1,110,000
Issuance senior notes, stated percentage											6.50%	6.50%
Debt instrument, maturity date											Feb. 15, 2029	Feb. 15, 2029
Debt discount amortized to interest expense effective interest rate											6.83%	6.83%
Non-Extended Revolving Credit Facility
Debt Instrument [Line Items]
Debt instrument amount						$ 60,500					$ 60,500
Debt instrument, maturity date						Apr. 24, 2022					Apr. 24, 2022
Non-Extended Revolving Credit Facility \| Maximum \| Base Rate
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate											4.25%
Non-Extended Revolving Credit Facility \| Maximum \| Eurodollar
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate											5.25%
Non-Extended Revolving Credit Facility \| Minimum \| Base Rate
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate											3.75%
Non-Extended Revolving Credit Facility \| Minimum \| Eurodollar
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate											4.75%
Extended Revolving Credit Facility
Debt Instrument [Line Items]
Debt instrument amount						$ 500,000					$ 500,000
Debt instrument, maturity date						Dec. 10, 2024					Dec. 10, 2024
Extended Revolving Credit Facility \| Maximum \| Base Rate
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate											3.50%
Extended Revolving Credit Facility \| Maximum \| Eurodollar
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate											4.50%
Extended Revolving Credit Facility \| Minimum \| Base Rate
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate											2.75%
Extended Revolving Credit Facility \| Minimum \| Eurodollar
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate											3.75%
4.75% Senior Secured Notes
Debt Instrument [Line Items]
Issuance of senior notes, principal amount														$ 570,000
6.00% Senior Secured Notes
Debt Instrument [Line Items]
Issuance senior notes, stated percentage											6.00%	6.00%
Debt instrument, maturity date											Apr. 15, 2023	Apr. 15, 2023
Repayments of debt instrument			$ 550,000
Debt issuance cost										$ 1,300
Cash interest expense for tender premium										3,000
6.00% Senior Secured Notes \| Interest Expense
Debt Instrument [Line Items]
Loss on repayment of tendered notes										$ 4,300
Senior Unsecured Notes - 6.50%, Due February 24, 2029
Debt Instrument [Line Items]
Issuance of senior notes, principal amount				$ 1,110,000
8.25% Senior Unsecured Notes
Debt Instrument [Line Items]
Debt instrument amount												$ 1,110,000
Issuance senior notes, stated percentage				8.25%							8.25%	8.25%
Debt instrument, maturity date				Oct. 15, 2023							Oct. 15, 2023	Oct. 15, 2023
Debt issuance cost											$ 21,500
Cash interest expense for tender premium											$ 17,600
Debt discount amortized to interest expense effective interest rate											9.06%	9.06%
8.25% Senior Unsecured Notes \| Interest Expense
Debt Instrument [Line Items]
Loss on repayment of tendered notes											$ 39,100
6.00% Senior Unsecured Notes due 2030
Debt Instrument [Line Items]
Issuance senior notes, stated percentage		6.00%
Debt instrument, maturity date		Jan. 15, 2030
Issuance of senior notes, principal amount		$ 700,000
6.00% Senior Unsecured Notes due 2030 \| Windstream
Debt Instrument [Line Items]
Proceeds from senior notes used to prepayment of settlement obligations under settlement agreement		$ 78,000
7.125% Senior Unsecured Notes
Debt Instrument [Line Items]
Debt instrument amount												$ 600,000
Issuance senior notes, stated percentage											7.125%	7.125%
Debt instrument, maturity date		Dec. 15, 2024									Dec. 15, 2024	Dec. 15, 2024
Repayments of debt instrument	$ 600,000
Debt issuance cost											$ 1,800
Cash interest expense for tender premium											$ 4,100
Debt discount amortized to interest expense effective interest rate											7.38%	7.38%
7.125% Senior Unsecured Notes \| Interest Expense
Debt Instrument [Line Items]
Loss on repayment of tendered notes											$ 5,900
Exchangeable Notes
Debt Instrument [Line Items]
Debt instrument amount								$ 345,000			$ 345,000
Issuance senior notes, stated percentage								4.00%			4.00%
Debt instrument, maturity date								Jun. 15, 2024			Jun. 15, 2024
Issuance of senior notes, principal amount								$ 345,000
Debt issuance cost								$ 2,900
Debt instrument, frequency of periodic payment								semiannually in arrears on June 15 and December 15 of each year
Debt Instrument,date of first required payment								Dec. 15, 2019
Debt instrument, indenture exchange rate shares per thousand dollars principal amount								80.4602
Debt instrument, indenture exchange price per share								$ 12.43
Debt instrument, redemption price, percentage								100.00%
Debt Instrument, redemption period, start date								Jun. 20, 2022
Debt instrument, redemption threshold percentage of stock price								130.00%
Debt discount amortized to interest expense effective interest rate								11.10%
Debt issuance costs commissions payable								$ 10,400
Debt issuance costs payable to third party								1,400
Equity component value of convertible note issuance, net								$ 80,800
Exchangeable Senior Unsecured Notes \| Cumulative Effect Adjustment for Adoption of New Accounting Standard
Debt Instrument [Line Items]
Debt instrument amount					$ 336,500							$ 275,400
Debt discount amortized to interest expense effective interest rate					4.80%							11.10%
Increase in carrying amount of debt due to adoption					$ 61,100

Notes and Other Debt - Schedule of Aggregate Annual Maturities of Long-Term Obligations (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Long Term Debt By Maturity [Abstract]
2024	$ 545,000
2025	2,250,000
Thereafter	2,380,000
Total	$ 5,175,000	$ 4,965,000

Stock-Based Compensation - Additional Information (Details) - USD ($)			12 Months Ended
	Feb. 24, 2021	May 17, 2018	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares available for future issuance			265,220,753
Employee Stock Purchase Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares available for future issuance			1,744,975
Dividend yield			5.50%	3.90%	2.10%
Number of shares authorized		2,000,000
Plan period description			Under the ESPP, there are two six-month plan periods during each calendar year, one beginning January 1 and ending on June 30, and one beginning on July 1 and ending on December 31.
Maximum employee subscription rate based on annual earnings, percentage		15.00%
Maximum amount withheld by employee to purchase common stock		$ 25,000
Purchase price of common stock, percentage		85.00%
Number of shares sold to employees			74,950	96,788	83,287
Restricted Awards
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares granted			691,241	996,037	833,448
Fair value of shares granted			$ 8,200,000
Awards vesting period			3 years
Shares available for future issuance			2,676,776
Weighted-average fair value			$ 11.82	$ 10.39	$ 11.62
Total fair value of shares vesting			$ 9,900,000	$ 8,600,000	$ 6,400,000
Unrecognized compensation expense			$ 8,600,000
Weighted average vesting period			9 months 18 days
Number of shares forfeited			133,061
Performance Awards
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares granted	216,085		216,085	322,209	255,517
Weighted-average fair value			$ 16.27	$ 15.45	$ 18.99
Unrecognized compensation expense			$ 3,900,000
Weighted average vesting period			1 year 2 months 12 days
Performance period			3 years
Percentage of target amount	100.00%
Aggregate value	$ 3,500,000
Number of shares forfeited			75,463
Dividend yield			0.00%	0.00%	0.00%
Performance Awards \| Termination of Service
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares forfeited			75,463
Performance Awards \| Minimum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage of target shares			0.00%
Performance Awards \| Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage of target shares			200.00%
Restricted Stock Awards, Performance-Based Awards and ESPP \| General And Administrative Expense
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Compensation expense recognized during the period			$ 13,800,000	$ 13,700,000	$ 10,800,000

Stock-Based Compensation - Schedule of Unvested Restricted Stock Awards (Details) - Restricted Awards - USD ($)
$ / shares in Units, $ in Thousands

12 Months Ended

Dec. 31, 2021

Dec. 31, 2020

Dec. 31, 2019

1,561,415

Granted

691,241

996,037

833,448

Forfeited

(133,061)

Vested

(765,622)

Unvested balance, Weighted Average Fair Value at Grant Date

1,353,973

1,561,415

$ 12.33

Granted, Weighted Average Fair Value at Grant Date

11.82

$ 10.39

$ 11.62

Forfeited, Weighted Average Fair Value at Grant Date

11.36

Vested, Weighted Average Fair Value at Grant Date

12.95

Unvested balance, Weighted Average Fair Value at Grant Date

$ 11.58

$ 12.33

Unvested balance, Aggregate Intrinsic Value

^[1]

$ 18,969

[1]

Stock-Based Compensation - Schedule of Unvested Restricted Stock Awards (Parenthetical) (Details)	Dec. 31, 2021 $ / shares
Restricted Awards
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Aggregate intrinsic value	$ 14.01

Stock-Based Compensation - Schedule of Unvested Performance-based Restricted Stock Units Awards (Details) - Performance Awards - USD ($)
$ / shares in Units, $ in Thousands

12 Months Ended

Feb. 24, 2021

Dec. 31, 2021

Dec. 31, 2020

Dec. 31, 2019

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

706,570

Granted

216,085

322,209

255,517

Forfeited

(75,463)

Vested

(224,077)

Unvested balance, Weighted Average Fair Value at Grant Date

623,115

706,570

$ 17.64

Granted, Weighted Average Fair Value at Grant Date

16.27

$ 15.45

$ 18.99

Forfeited, Weighted Average Fair Value at Grant Date

16.96

Vested, Weighted Average Fair Value at Grant Date

18.96

Unvested balance, Weighted Average Fair Value at Grant Date

$ 16.78

$ 17.64

Unvested balance, Aggregate Intrinsic Value

^[1]

$ 8,730

[1]

Stock-Based Compensation - Schedule of Unvested Performance-based Restricted Stock Units Awards (Parenthetical) (Details)	Dec. 31, 2021 $ / shares
Performance Awards
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Aggregate intrinsic value	$ 14.01

Stock-Based Compensation - Schedule of Assumptions used to Value PSUs Granted (Details) - Performance Awards	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected term (years)	3 years	3 years	3 years
Expected volatility	57.10%	63.00%	57.50%
Expected annual dividend	0.00%	0.00%	0.00%
Risk free rate	0.20%	0.70%	2.30%

Stock-Based Compensation - Summary of Assumptions used to Value Purchase Rights Granted Under ESPP (Details) - Employee Stock Purchase Plan	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected term (years)	6 months	6 months	6 months
Expected volatility	28.00%	72.00%	24.00%
Expected annual dividend	5.50%	3.90%	2.10%
Risk free rate	0.10%	0.20%	2.10%

Earnings Per Share - Additional Information (Details) - $ / shares		12 Months Ended
	May 02, 2016	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Preferred stock, par value		$ 0.0001	$ 0.0001
Common Stock \| Exchangeable Notes
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from the computation of diluted earnings per share		29,777,226	14,221,616
PEG Bandwidth, LLC \| Series A Convertible Preferred Stock
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Percentage of dividend rate on convertible preferred stock	3.00%
Preferred stock, par value	$ 0.0001
Performance Awards
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from the computation of diluted earnings per share			707,000	517,000

Earnings Per Share - Schedule of Earnings Per Share Basic and Diluted (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Numerator:
Net income (loss) attributable to shareholders	$ 123,660	$ (706,301)	$ 10,582
Less: Income allocated to participating securities	(1,077)	(1,078)	(549)
Dividends declared on convertible preferred stock	(10)	(9)	(656)
Amortization of discount on convertible preferred stock			(993)
Net income (loss) attributable to common shareholders	$ 122,573	$ (707,388)	$ 8,384
Denominator:
Basic weighted-average common shares outstanding	232,888	203,600	187,358
Basic earnings (loss) per common share	$ 0.53	$ (3.47)	$ 0.04
Numerator:
Net income (loss) attributable to shareholders	$ 123,660	$ (706,301)	$ 10,582
Less: Income allocated to participating securities	(1,077)	(1,078)	(549)
Dividends declared on convertible preferred stock	(10)	(9)	(656)
Amortization of discount on convertible preferred stock			(993)
Impact on if-converted dilutive securities	11,926
Net income (loss) attributable to common shares	$ 134,499	$ (707,388)	$ 8,384
Denominator:
Basic weighted-average common shares outstanding	232,888	203,600	187,358
Impact on if-converted dilutive securities	30,809
Effect of dilutive non-participating securities	380
Weighted-average shares for dilutive earnings per common share	264,077	203,600	187,358
Dilutive earnings (loss) per common share	$ 0.51	$ (3.47)	$ 0.04

Segment Information - Additional Information (Details) - Segment		12 Months Ended
	Jan. 01, 2021	Dec. 31, 2021
Segment Reporting [Abstract]
Number of reportable business segments		4
Number of operating business segments	2	4

Segment Information - Schedule of Segment Reporting Information (Details) - USD ($)

3 Months Ended

12 Months Ended

Jun. 30, 2020

Dec. 31, 2021

Dec. 31, 2020

Dec. 31, 2019

$ 1,100,522,000

$ 1,067,041,000

$ 1,057,611,000

878,281,000

818,835,000

812,739,000

Interest expense, net

446,296,000

497,128,000

390,112,000

Transaction related and other costs

290,942,000

329,403,000

405,754,000

Other, net

24,917,000

11,703,000

(24,219,000)

Settlement expense

$ 650,000,000.0

650,000,000

Goodwill impairment

71,000,000

7,544,000

63,875,000

43,708,000

Gain on sale of operations

(28,143,000)

Gain on sale of real estate

(442,000)

(86,267,000)

(28,995,000)

Stock-based compensation

13,847,000

13,721,000

10,808,000

Income tax (benefit) expense

(4,916,000)

(15,203,000)

4,663,000

Adjustments for equity in earnings from unconsolidated entities

3,491,000

2,287,000

Net income (loss)

124,745,000

(718,812,000)

10,908,000

^[1]

385,855,000

390,491,000

671,298,000

Leasing

801,497,000

745,915,000

716,640,000

784,061,000

737,337,000

711,119,000

174,622,000

201,321,000

282,107,000

^[1]

223,251,000

169,306,000

338,543,000

Fiber Infrastructure

299,025,000

314,363,000

315,605,000

118,452,000

112,289,000

126,754,000

116,065,000

126,211,000

114,566,000

Goodwill impairment

71,000,000

^[1]

162,463,000

197,023,000

233,506,000

Towers

6,112,000

14,693,000

77,000

(595,000)

783,000

6,474,000

^[1]

24,162,000

99,234,000

Consumer CLEC

651,000

10,673,000

(545,000)

1,955,000

791,000

1,879,000

Corporate

(24,232,000)

(30,323,000)

(26,494,000)

255,000

$ 297,000

728,000

^[1]

$ 141,000

$ 15,000

[1]	Segment capital expenditures represents capital expenditures, the Windstream Asset Purchase Agreement and Bluebird asset acquisition (see Note 6) as reported in the investing activities section of the Consolidated Statements of Cash Flows.

Segment Information - Summary of Total Assets by Business Segment (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Segment Reporting Information [Line Items]
Total assets	$ 4,809,243	$ 4,731,818
Leasing
Segment Reporting Information [Line Items]
Total assets	2,521,406	2,295,289
Fiber Infrastructure
Segment Reporting Information [Line Items]
Total assets	2,249,860	2,354,569
Consumer CLEC
Segment Reporting Information [Line Items]
Total assets		8,707
Corporate
Segment Reporting Information [Line Items]
Total assets	$ 37,977	$ 73,253

Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 210
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03(11))
-URI http://asc.fasb.org/extlink&oid=120398452&loc=d3e534808-122878

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 852
-SubTopic 10
-Section 55
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=84165509&loc=d3e56426-112766

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(A))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iv))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 210
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-03(a)(12))
-URI http://asc.fasb.org/extlink&oid=120400017&loc=d3e572229-122910

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(i))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 852
-SubTopic 10
-Section 50
-Paragraph 7
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=124433192&loc=SL2890621-112765

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(ii))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(5))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iii)(A))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(i))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 14: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iii))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 28
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=123596393&loc=d3e14064-108612

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(B))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (bb)
-URI http://asc.fasb.org/extlink&oid=123419778&loc=d3e5710-111685

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(5))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 45
-Paragraph 25
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=116870748&loc=SL6758485-165988

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iv))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8906-108599

Commitments and Contingencies - Additional Information (Details) $ / shares in Units, FiberStrandMile in Millions, FiberRoute in Millions				3 Months Ended	12 Months Ended
	Oct. 14, 2021 USD ($)	Sep. 18, 2020 USD ($) FiberStrandMile FiberRoute	Sep. 09, 2020 $ / shares shares	Jun. 30, 2020 USD ($)	Dec. 31, 2021 USD ($) Installment $ / shares	Dec. 31, 2020 USD ($) $ / shares
Commitments And Contingencies [Line Items]
Settlement of litigation				$ 650,000,000.0		$ 650,000,000
Initial fair value					$ 5,578,491,000	$ 5,666,340,000
Common stock, par value \| $ / shares					$ 0.0001	$ 0.0001
Obligations under tax matters agreement					$ 0
Windstream Creditors
Commitments And Contingencies [Line Items]
Common stock agreed to sell \| shares			38,633,470
Common stock, par value \| $ / shares			$ 0.0001
Closing price of common stock \| $ / shares			$ 6.33
Windstream
Commitments And Contingencies [Line Items]
Quarterly cash payments to be made after emergence					24,500,000
Cash payment in equal installments emergence from bankruptcy					$ 490,100,000
Number of installments \| Installment					20
Percentage of committed purchase of assets					9.00%
Initial fair value					$ 438,600,000
Effective rate of payments recognized as interest expense					4.70%
Prepayment of settlement obligations under settlement agreement	$ 92,900,000
Settlement payments					$ 215,400,000
Agreement to invest growth capital improvements					1,750,000,000
Growth Capital Improvements except maintenance or repair expenditures and expenditures towards cost incurred for fiber replacements					70,000,000
Growth capital improvements fund annual limit					250,000,000
Growth capital improvements funded during the period					84,700,000
Growth capital improvements reimbursement amount					221,500,000
Amount allowed for under the settlement represented the reimbursement of capital improvements					28,500,000
Payments to acquire assets		$ 284,600,000
Dark fiber indefeasible rights of use contracts and access rights \| FiberStrandMile		1.8
Fiber strand miles of fiber assets conveyed \| FiberStrandMile		0.4
Fiber route miles of fiber assets conveyed \| FiberRoute		4,000
Right of use asset and underlying rights of fiber strand miles \| FiberStrandMile		0.4
IRU annual EBITDA from fiber strand miles conveyed		$ 28,900,000
Windstream \| Maximum
Commitments And Contingencies [Line Items]
Commitment amount					265,300,000
Windstream \| 6.00% Senior Notes due 2030
Commitments And Contingencies [Line Items]
Proceeds from senior notes used to prepayment of settlement obligations under settlement agreement	$ 78,000,000.0
Separate Equipment Loan Facilities
Commitments And Contingencies [Line Items]
Annual reimbursement commitment payments due year one through four					225,000,000
Annual reimbursement commitment payments, due year six					175,000,000
Annual reimbursement commitment payments, due year seven through nine					$ 125,000,000

Accumulated Other Comprehensive Income - Schedule of Changes in Accumulated Other Comprehensive Income (Loss) by Component (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Accumulated Other Comprehensive Income Loss [Line Items]
Balance at beginning of period	$ (2,141,658)
Changes in foreign currency translation			$ (63)
Net other comprehensive income (loss)	11,317	$ 3,119	(54,675)
Balance at end of period	(2,127,792)	(2,141,658)
Accumulated other comprehensive income (loss) at end of period	(9,164)	(20,367)	(23,442)
Cash Flow Hedge Changes in Fair Value Gain (Loss)
Accumulated Other Comprehensive Income Loss [Line Items]
Balance at beginning of period	(30,353)	(23,442)	30,042
Other comprehensive loss before reclassifications	0	(7,713)	(51,288)
Amounts reclassified from accumulated other comprehensive income	0	677	(3,324)
Net other comprehensive income (loss)	(30,353)	(30,478)	(24,570)
Less: Other comprehensive income (loss) attributable to noncontrolling interest	0	(125)	(1,128)
Balance at end of period	(30,353)	(30,353)	(23,442)
Interest Rate Swap Termination
Accumulated Other Comprehensive Income Loss [Line Items]
Balance at beginning of period	9,986	0	0
Amounts reclassified from accumulated other comprehensive income	11,317	10,155	0
Balance at end of period	21,303	10,155	0
Less: Other comprehensive income (loss) attributable to noncontrolling interest	114	169	0
Balance at end of period	21,189	9,986	0
Foreign Currency Translation Gain (Loss)
Accumulated Other Comprehensive Income Loss [Line Items]
Balance at beginning of period	0	0	63
Changes in foreign currency translation	0	0	0
Amounts reclassified from accumulated other comprehensive income	0	0	(63)
Net other comprehensive income (loss)	0	0	0
Less: Other comprehensive income (loss) attributable to noncontrolling interest	0	0	0
Balance at end of period	$ 0	$ 0	$ 0

Income Taxes - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Mar. 15, 2019	Dec. 31, 2017	Aug. 31, 2016
Income Taxes [Line Items]
Annual distribution requirement to shareholders	90.00%	90.00%
Issuance senior notes, stated percentage	7.875%
Debt instrument, maturity year	2025
Deferred tax asset, valuation allowance	$ 0
Net operating loss	$ 165,200,000
Percentage of net operating loss carryforwards limitation.	80.00%
Net operating loss limitations on use	approximately $375.4 million which will not expire but the utilization of which will be limited to 80% of taxable income annually under provisions enacted in the Tax Cut and Jobs Act
Income tax examination, year open to examination	2018
Interest and penalties net of tax recognized	$ 0
Accrued interest and penalties on unrecognized tax benefits	$ 1,300,000
Earliest Tax Year
Income Taxes [Line Items]
Operating loss carry forwards expiration year	2026
Latest Tax Year
Income Taxes [Line Items]
Operating loss carry forwards expiration year	2037
Tax Without Expire Period
Income Taxes [Line Items]
Net operating loss	$ 375,400,000
Tower Cloud, Inc.
Income Taxes [Line Items]
Business acquisition date	Aug. 31, 2016
Percentage of equity acquired				100.00%
Net operating loss			$ 18,300,000	$ 81,200,000
Tower Cloud, Inc. \| Minimum
Income Taxes [Line Items]
Operating loss carry forwards expiration year	2026
Tower Cloud, Inc. \| Maximum
Income Taxes [Line Items]
Operating loss carry forwards expiration year	2036

Income Taxes - Schedule of Income Tax Expense (Benefit) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Current
Federal	$ (71)	$ (901)	$ 10,401
State	1,622	(498)	2,742
Foreign		87	2,948
Total current expense	1,551	(1,312)	16,091
Deferred
Federal	(5,066)	(7,665)	(9,378)
State	(1,401)	(6,226)	(2,050)
Total deferred expense	(6,467)	(13,891)	(11,428)
Total income tax (benefit) expense	$ (4,916)	$ (15,203)	$ 4,663

Income Taxes - Income Tax Expense Reconciliation Between U.S. Statutory Tax Rate and Effective Tax Rate (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Income from continuing operations, before tax	$ 119,844	$ (734,015)	$ 15,571
Income tax at U.S. statutory federal rate	25,167	(154,143)	3,270
Increases (decreases) resulting from:
State taxes, net of federal benefit	288	(3,452)	407
Benefit of REIT status	(30,565)	129,742	(2,188)
Goodwill impairment		14,910
Return to accrual	193	(2,795)	104
Permanent differences	1	448	122
Foreign taxes		87	2,948
Total income tax (benefit) expense	$ (4,916)	$ (15,203)	$ 4,663

Income Taxes - Schedule of Components of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Deferred tax assets:
Deferred revenue	$ 29,275	$ 34,207
Accrued bonuses		3
Stock-based compensation	503	801
Accrued expenses and other	183	270
Asset retirement obligation	1,791	1,429
Inventory reserve	140	241
Excess business interest expense	306	17
Lease asset liability	13,952	16,842
Settlement obligation	710	883
Debt discount and interest expense	10,040
Other	2,215	3,032
Net operating loss carryforwards	139,020	126,464
Deferred tax assets	198,135	184,189
Deferred tax liabilities:
Property, plant and equipment	(97,372)	(103,441)
Customer list intangible	(40,941)	(42,898)
Other intangible amortization	(28,689)	(24,852)
Right of use asset	(16,039)	(18,443)
Deferred or prepaid costs	(3,373)	(3,041)
Debt discount and interest expense		(2,034)
Other		(20)
Deferred tax liabilities	(186,414)	(194,729)
Deferred tax asset, net	$ 11,721
Deferred tax (liability), net		$ (10,540)

Income Taxes - Schedule of Reconciliation of Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Income Tax Uncertainties [Abstract]
Balance at January 1	$ 1,734	$ 1,734
Balance at December 31	$ 1,734	$ 1,734

Supplemental Cash Flow Information - Schedule Cash Paid For Interest Expenses And Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Supplemental Cash Flow Information [Abstract]
Interest, net of capitalized interest	$ 375,578	$ 314,276	$ 344,464
Income taxes, net of refunds	$ 1,386	$ 1,155	$ 16,073

Capital Stock - Additional Information (Details) $ / shares in Units, $ in Thousands				12 Months Ended
	Aug. 02, 2021 USD ($) shares	Sep. 18, 2020 $ / shares shares	Jul. 02, 2019 USD ($) shares	Dec. 31, 2019 USD ($)	Dec. 31, 2021 USD ($) $ / shares shares	Dec. 31, 2020 USD ($) $ / shares shares	Sep. 09, 2020 $ / shares	Jun. 22, 2020 USD ($) $ / shares	Sep. 02, 2016 USD ($)
Schedule Of Capitalization Equity [Line Items]
Common stock, shares issued					234,779,000	231,262,000
Common stock, par value \| $ / shares					$ 0.0001	$ 0.0001
Aggregate offering price of common stock \| $					$ 23	$ 23
Stock issued during period, value, conversion of convertible securities \| $				$ 87,500
Common stock, shares authorized					500,000,000	500,000,000
Preferred stock, shares authorized					50,000,000	50,000,000
Common stock, shares outstanding					234,779,247	231,262,000
Preferred stock, shares outstanding					0	0
Shares available for future issuance					265,220,753
At The Market Offering Program
Schedule Of Capitalization Equity [Line Items]
Common stock, par value \| $ / shares								$ 0.0001
Available of common stock value for issuance \| $									$ 117,100
At The Market Offering Program \| Maximum
Schedule Of Capitalization Equity [Line Items]
Aggregate offering price of common stock \| $								$ 250,000
Windstream Creditors
Schedule Of Capitalization Equity [Line Items]
Common stock, par value \| $ / shares							$ 0.0001
Closing price of common stock \| $ / shares							$ 6.33
Windstream Creditors \| Stock Purchase Agreements
Schedule Of Capitalization Equity [Line Items]
Common stock, shares issued		38,633,470
Common stock, par value \| $ / shares		$ 0.0001
Closing price of common stock \| $ / shares		$ 6.33
Common stock lock up period		1 year
Op Units
Schedule Of Capitalization Equity [Line Items]
Common stock, shares issued	2,768,199
Carrying value of units exchanged held by third parties \| $	$ 55,200
Percentage of units exchanged held by third parties	80.00%
Equity interest conversion ratio	1
Common Stock
Schedule Of Capitalization Equity [Line Items]
Stock issued during period conversion of convertible securities			8,677,163
Stock issued during period, value, conversion of convertible securities \| $			$ 87,500
Common Stock \| PEG Bandwidth, LLC \| 3% Series A Convertible Preferred Stock
Schedule Of Capitalization Equity [Line Items]
Number of shares converted			87,500

Dividends (Distributions) - Additional Information (Details) - $ / shares

12 Months Ended

Dec. 31, 2021

Dec. 31, 2020

Dec. 31, 2019

Common stock distribution per share

$ 0.45

^[1]

$ 0.60

^[2]

$ 0.97

^[3]

[1]	Pursuant to Internal Revenue Code Section 857(b)(9), if you were a stockholder of record as of December 17, 2021, your dividend payment of $0.1500 per share received in January 2022 will be reported on Form 1099-DIV for the 2022 taxable year for federal income tax purposes.
[2]	Pursuant to Internal Revenue Code Section 857(b)(9), if you were a stockholder of record as of December 15, 2020, your dividend payment of $0.1500 per share received in January 2021 was reported on Form 1099-DIV for the 2020 taxable year for federal income tax purposes.
[3]	Pursuant to Internal Revenue Code Section 857(b)(9), if you were a stockholder of record as of December 31, 2019, your dividend payment of $0.2200 per share received in January 2020 was reported on Form 1099-DIV for the 2019 taxable year for federal income tax purposes.

Dividends (Distributions) - Schedule of Common Stock Distribution Per Share (Details) - $ / shares

12 Months Ended

Dec. 31, 2021

^[1]

Dec. 31, 2020

Dec. 31, 2019

^[3]