0001628280-24-008054 | 10-K | XBRL Viewer

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Leases - Schedule of Depreciation Expense for Underlying Assets under Operating Leases (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Leases [Abstract]
Depreciation expense for underlying assets under operating leases	$ 182,906	$ 176,160

Notes and Other Debt - Schedule of Aggregate Annual Maturities of Long-Term Obligations (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Long-Term Debt, Fiscal Year Maturity [Abstract]
2024	$ 122,942
2025	0
2026	0
2027	514,500
2028	3,170,000
Thereafter	1,810,000
Total	$ 5,617,442	$ 5,262,373

Accumulated Other Comprehensive Income (Tables)

12 Months Ended

Dec. 31, 2023

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, 2023, 2022 and 2021:


(Thousands)	2023		2022		2021
Cash flow hedge changes in fair value (loss) gain:
Balance at beginning of period	$	(30,353)	$	(30,353)	$	(30,353)
Other comprehensive loss before reclassifications	—		—		—
Amounts reclassified from accumulated other comprehensive income	—		—		—
Net other comprehensive loss	(30,353)		(30,353)		(30,353)
Less: Other comprehensive loss attributable to noncontrolling interest	—		—		—
Balance at end of period	(30,353)		(30,353)		(30,353)
Interest rate swap termination:
Balance at beginning of period attributable to common shareholders	30,353		21,189		9,986
Amounts reclassified from accumulated other comprehensive income	—		9,243		11,317
Balance at end of period	30,353		30,432		21,303
Less: Other comprehensive income attributable to noncontrolling interest	—		79		114
Balance at end of period attributable to common shareholders	30,353		30,353		21,189
Accumulated other comprehensive income (loss) at end of period	$	—	$	—	$	(9,164)

Basis of Presentation and Consolidation

12 Months Ended

Dec. 31, 2023

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Basis of Presentation and Consolidation

The accompanying Consolidated Financial Statements include all accounts of the Company and, its wholly-owned and/or controlled subsidiaries, including the Operating Partnership. Under the Accounting Standards Codification 810, Consolidation (“ASC 810”), the Operating Partnership is considered a variable interest entity and is consolidated in the Consolidated Financial Statements of Uniti Group Inc. because the Company is the primary beneficiary. All material intercompany balances and transactions have been eliminated.

ASC 810 provides guidance on the identification of entities for which control is achieved through means other than voting rights (“variable interest entities” or “VIEs”) and the determination of which business enterprise, if any, should consolidate the VIEs. Generally, the consideration of whether an entity is a VIE applies when either: (1) the equity investors (if any) lack (i) the ability to make decisions about the entity’s activities through voting or similar rights, (ii) the obligation to absorb the expected losses of the entity, or (iii) the right to receive the expected residual returns of the entity; (2) the equity investment at risk is insufficient to finance that entity’s activities without additional subordinated financial support; or (3) the equity investors have voting rights that are not proportionate to their economic interests and substantially all of the activities of the entity involve or are conducted on behalf of an investor with a disproportionately small voting interest. The Company consolidates VIEs in which it is considered to be the primary beneficiary. The primary beneficiary is defined as the entity having both of the following characteristics: (1) the power to direct the activities that, when taken together, most significantly impact the VIE’s performance; and (2) the obligation to absorb losses and right to receive the returns from the VIE that would be significant to the VIE.

The accompanying Consolidated Financial Statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for financial information set forth in the Accounting Standards Codification (“ASC”), as published by the Financial Accounting Standards Board (“FASB”), and with the applicable rules and regulations of the Securities and Exchange Commission (“SEC”).

Immaterial Error Correction of Previously Issued Financial Statements

The Company has made certain adjustments to previously reported amounts for correcting immaterial errors related to the income tax benefits associated with the goodwill impairment in our unaudited condensed consolidated financial statements as of September 30, 2023 and for the three and nine months then ended, as summarized in the table below. The Company's management has determined that their related impact was not material to those financial statements. The adjustments had no impact on Adjusted EBITDA (see Note 16), which is the performance measure management uses to evaluate the performance of our reportable segments or our operating cash flows. The Company will correct previously reported financial information for these immaterial errors in our future filings, as applicable.

Unaudited Interim Financial Information

A summary of the adjustments to our prior period unaudited condensed consolidated balance sheet, condensed consolidated statement of loss, condensed consolidated statement of comprehensive loss, and condensed consolidated statement of cash flows is presented below:


	As of September 30, 2023
(Thousands)	As Reported		Adjustments		As Adjusted
Goodwill	$	208,378	$	(50,998)	$	157,380
Deferred income taxes, net	$	90,792	$	13,035	$	103,827
Total Assets	$	4,981,325	$	(37,963)	$	4,943,362
Distributions in excess of accumulated earnings	$	(3,665,569)	$	(37,946)	$	(3,703,515)
Total Uniti shareholders' deficit	$	(2,446,730)	$	(37,946)	$	(2,484,676)
Operating partnership units	$	2,040	$	(17)	$	2,023
Total shareholders' deficit	$	(2,444,440)	$	(37,963)	$	(2,482,403)
Total Liabilities and Shareholders' Deficit	$	4,981,325	$	(37,963)	$	4,943,362


	Three Months Ended September 30, 2023
(Thousands)	As Reported		Adjustments		As Adjusted
Goodwill impairment	$	153,000	$	50,998	$	203,998
Loss before income taxes and equity in earnings from unconsolidated entities	$	(124,698)	$	(50,998)	$	(175,696)
Income tax benefit	$	(43,095)	$	(13,035)	$	(56,130)
Net loss	$	(80,933)	$	(37,963)	$	(118,896)
Net loss attributable to noncontrolling interest	$	(36)	$	(17)	$	(53)
Net loss attributable to shareholders	$	(80,897)	$	(37,946)	$	(118,843)
Net loss attributable to common shareholders	$	(81,223)	$	(37,946)	$	(119,169)
Earnings per share - Basic	$	(0.34)	$	(0.16)	$	(0.50)
Earnings per share - Diluted	$	(0.34)	$	(0.16)	$	(0.50)

Comprehensive loss:
Net loss	$	(80,933)	$	(37,963)	$	(118,896)
Comprehensive loss	$	(80,933)	$	(37,963)	$	(118,896)
Comprehensive loss attributable to noncontrolling interest	$	(36)	$	(17)	$	(53)
Comprehensive loss attributable to shareholders	$	(80,897)	$	(37,946)	$	(118,843)


	Nine Months Ended September 30, 2023
(Thousands)	As Reported		Adjustments		As Adjusted
Goodwill impairment	$	153,000	$	50,998	$	203,998
Loss before income taxes and equity in earnings from unconsolidated entities	$	(126,360)	$	(50,998)	$	(177,358)
Income tax benefit	$	(49,864)	$	(13,035)	$	(62,899)
Net loss	$	(74,506)	$	(37,963)	$	(112,469)
Net loss attributable to noncontrolling interest	$	(33)	$	(17)	$	(50)
Net loss attributable to shareholders	$	(74,473)	$	(37,946)	$	(112,419)
Net loss attributable to common shareholders	$	(75,378)	$	(37,946)	$	(113,324)
Earnings per share - Basic	$	(0.32)	$	(0.16)	$	(0.48)
Earnings per share - Diluted	$	(0.32)	$	(0.16)	$	(0.48)

Comprehensive loss:
Net loss	$	(74,506)	$	(37,963)	$	(112,469)
Comprehensive loss	$	(74,506)	$	(37,963)	$	(112,469)
Comprehensive loss attributable to noncontrolling interest	$	(33)	$	(17)	$	(50)
Comprehensive loss attributable to shareholders	$	(74,473)	$	(37,946)	$	(112,419)


	Nine Months Ended September 30, 2023
(Thousands)	As Reported		Adjustments		As Adjusted
Cash Flows from Operating Activities
Net Loss	$	(74,506)	$	(37,963)	$	(112,469)
Adjustments to reconcile net loss to net cash provided by operating activities:
Deferred income taxes	$	(50,161)	$	(13,035)	$	(63,196)
Goodwill impairment	$	153,000	$	50,998	$	203,998
Net cash provided by operating activities	$	190,575	$	—	$	190,575

Notes and Other Debt (Tables)

12 Months Ended

Dec. 31, 2023

Long-Term Debt, Unclassified [Abstract]

Schedule of Notes and Other Debt

Notes and other debt is as follows:


(Thousands)	December 31, 2023		December 31, 2022
Principal amount	$	5,617,442	$	5,262,373
Less unamortized discount, premium and debt issuance costs	(93,863)		(73,558)
Notes and other debt less unamortized discount and debt issuance costs	$	5,523,579	$	5,188,815

Notes and other debt at December 31, 2023 and 2022 consisted of the following:


	December 31, 2023				December 31, 2022
(Thousands)	Principal		Unamortized Discount, Premium and Debt Issuance Costs		Principal		Unamortized Discount, Premium and Debt Issuance Costs
Senior secured notes - 7.875%, due February 15, 2025 (discount is based on imputed interest rate of 8.38%)	$	—	$	—	$	2,250,000	$	(22,239)
Senior secured notes - 10.50%, due February 15, 2028 (discount is based on imputed interest rate of 11.06%	2,600,000		(48,290)		—		—
Senior secured notes - 4.75%, due April 15, 2028 (discount is based on imputed interest rate of 5.04%)	570,000		(6,360)		570,000		(7,654)
Senior unsecured notes - 6.50%, due February 15, 2029 (discount is based on imputed interest rate of 6.83%)	1,110,000		(15,761)		1,110,000		(18,245)
Senior unsecured notes - 6.00%, due January 15, 2030 (discount is based on imputed interest rate of 6.27%)	700,000		(9,307)		700,000		(10,535)
Exchangeable senior unsecured notes - 4.00%, due June 15, 2024 (discount is based on imputed interest rate of 4.77%)	122,942		(427)		137,873		(1,501)
Convertible senior notes - 7.50%, due December 1, 2027 (discount is based on imputed interest rate of 8.29%)	306,500		(8,092)		306,500		(9,768)
Senior secured revolving credit facility, variable rate, due September 24, 2027	208,000		(5,625)		188,000		(3,616)
Total	$	5,617,442	$	(93,863)	$	5,262,373	$	(73,558)

Schedule of Aggregate Annual Maturities of Long-Term Obligations

Aggregate annual maturities of our long-term obligations at December 31, 2023 are as follows:


(Thousands)
2024	$	122,942
2025	—
2026	—
2027	514,500
2028	3,170,000
Thereafter	1,810,000
Total	$	5,617,442

- Definition

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.

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+ Details

Stock-Based Compensation - Schedule of Unvested Restricted Stock Awards (Details) - Restricted Awards - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 30, 2022
Shares
Nonvested, beginning balance (in shares)	1,356,389
Granted (in shares)	1,505,876	925,059	691,241
Forfeited (in shares)	(66,088)
Vested (in shares)	(699,184)
Nonvested, ending balance (in shares)	2,096,993	1,356,389
Weighted Average Fair Value at Grant Date
Unvested balance (in dollars per share)	$ 11.11
Grant (in dollars per share)	5.78	$ 9.52	$ 11.82
Forfeited (in dollars per share)	8.00
Vested (in dollars per share)	11.04
Unvested balance (in dollars per share)	$ 7.41	$ 11.11
Aggregate Intrinsic Value
Unvested balance	$ 12,121
Aggregate intrinsic value (in dollars per share)				$ 5.78

Goodwill and Intangible Assets - Schedule of Carrying Amount of Goodwill (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2023	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Goodwill [Line Items]
Goodwill, gross						$ 672,878
Goodwill, impaired, accumulated impairment loss			$ (515,498)		$ (71,000)
Goodwill [Roll Forward]
Goodwill at beginning of period		$ 361,378	361,378	$ 601,878
Goodwill impairment	$ (203,998)	(203,998)	(203,998)	(240,500)	0
Goodwill at end of period	$ 157,380	157,380	157,380	361,378	601,878
Fiber Infrastructure Segment
Goodwill [Line Items]
Goodwill, gross						$ 672,878
Goodwill, impaired, accumulated impairment loss			(515,498)		(71,000)
Goodwill [Roll Forward]
Goodwill at beginning of period		$ 361,378	361,378	601,878
Goodwill impairment			(203,998)	(240,500)
Goodwill at end of period			$ 157,380	$ 361,378	$ 601,878

- Definition

Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.

+ References + Details

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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+ Details

Earnings Per Share (Tables)

12 Months Ended

Dec. 31, 2023

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)	2023		2022		2021
Basic earnings per share:
Numerator:
Net (loss) income attributable to shareholders	$	(81,713)	$	(8,275)	$	123,660
Less: Income allocated to participating securities	(1,207)		(1,135)		(1,077)
Dividends declared on convertible preferred stock	(20)		(20)		(10)
Net (loss) income attributable to common shares	$	(82,940)	$	(9,430)	$	122,573
Denominator:
Basic weighted-average common shares outstanding	236,401		235,567		232,888
Basic (loss) earnings per common share	$	(0.35)	$	(0.04)	$	0.53


	Year Ended December 31,
(Thousands, except per share data)	2023		2022		2021
Diluted earnings per share:
Numerator:
Net (loss) income attributable to shareholders	$	(81,713)	$	(8,275)	$	123,660
Less: Income allocated to participating securities	(1,207)		(1,135)		(1,077)
Dividends declared on convertible preferred stock	(20)		(20)		(10)
Impact on if-converted dilutive securities	—		—		11,926
Net (loss) income attributable to common shares	$	(82,940)	$	(9,430)	$	134,499
Denominator:
Basic weighted-average common shares outstanding	236,401		235,567		232,888
Impact on if-converted dilutive securities	—		—		30,809
Effect of dilutive non-participating securities	—		—		380
Weighted-average shares for dilutive earnings per common share	236,401		235,567		264,077
Dilutive (loss) earnings per common share	$	(0.35)	$	(0.04)	$	0.51

Schedule II - Valuation and Qualifying Account (Details) - Allowance for Doubtful Accounts - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Period	$ 2,876	$ 2,717	$ 2,940
Charged to Cost and Expenses	1,302	571	1,522
Charged to Other Accounts	0	17	0
Deductions	(935)	(429)	(1,745)
Balance at End of Period	$ 3,243	$ 2,876	$ 2,717

Fair Value of Financial Instruments - Schedule of Fair Value Valuation of Financial Instruments (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Apr. 20, 2021	Feb. 02, 2021
Liabilities
Settlement payable	$ 160,550	$ 232,350
Total	5,188,025	$ 4,750,497
Senior secured notes - 10.50%, due February 15, 2028
Liabilities
Senior notes	$ 2,624,596
Issuance senior notes, stated percentage	10.50%	10.50%
Senior secured notes - 7.875%, due February 15, 2025
Liabilities
Senior notes		$ 2,208,319
Issuance senior notes, stated percentage	7.875%	7.875%
Senior secured notes - 4.75%, due April 15, 2028
Liabilities
Senior notes	$ 488,205	$ 469,740
Issuance senior notes, stated percentage	4.75%	4.75%	4.75%
Senior unsecured notes - 6.50%, due February 15, 2029
Liabilities
Senior notes	$ 796,125	$ 759,917
Issuance senior notes, stated percentage	6.50%	6.50%		6.50%
Senior unsecured notes - 6.00%, due January 15, 2030
Liabilities
Senior notes	$ 486,675	$ 467,401
Issuance senior notes, stated percentage	6.00%	6.00%
Exchangeable senior unsecured notes - 4.00%, due June 15, 2024 (discount is based on imputed interest rate of 4.77%)
Liabilities
Senior notes	$ 122,140	$ 127,024
Issuance senior notes, stated percentage	4.00%	4.00%
Convertible Senior Notes 2027, Excluding Over-Allotment Option
Liabilities
Senior notes	$ 301,755	$ 297,765
Issuance senior notes, stated percentage	7.50%	7.50%
Senior Secured Revolving Credit Facility
Liabilities
Senior secured loan	$ 207,979	$ 187,981
Quoted Prices in Active Markets (Level 1)
Liabilities
Settlement payable	0	0
Total	0	0
Quoted Prices in Active Markets (Level 1) \| Senior secured notes - 10.50%, due February 15, 2028
Liabilities
Senior notes	0
Quoted Prices in Active Markets (Level 1) \| Senior secured notes - 7.875%, due February 15, 2025
Liabilities
Senior notes		0
Quoted Prices in Active Markets (Level 1) \| Senior secured notes - 4.75%, due April 15, 2028
Liabilities
Senior notes	0	0
Quoted Prices in Active Markets (Level 1) \| Senior unsecured notes - 6.50%, due February 15, 2029
Liabilities
Senior notes	0	0
Quoted Prices in Active Markets (Level 1) \| Senior unsecured notes - 6.00%, due January 15, 2030
Liabilities
Senior notes	0	0
Quoted Prices in Active Markets (Level 1) \| Exchangeable senior unsecured notes - 4.00%, due June 15, 2024 (discount is based on imputed interest rate of 4.77%)
Liabilities
Senior notes	0	0
Quoted Prices in Active Markets (Level 1) \| Convertible Senior Notes 2027, Excluding Over-Allotment Option
Liabilities
Senior notes	0	0
Quoted Prices in Active Markets (Level 1) \| Senior Secured Revolving Credit Facility
Liabilities
Senior secured loan	0	0
Prices with Other Observable Inputs (Level 2)
Liabilities
Settlement payable	160,550	232,350
Total	5,188,025	4,750,497
Prices with Other Observable Inputs (Level 2) \| Senior secured notes - 10.50%, due February 15, 2028
Liabilities
Senior notes	2,624,596
Prices with Other Observable Inputs (Level 2) \| Senior secured notes - 7.875%, due February 15, 2025
Liabilities
Senior notes		2,208,319
Prices with Other Observable Inputs (Level 2) \| Senior secured notes - 4.75%, due April 15, 2028
Liabilities
Senior notes	488,205	469,740
Prices with Other Observable Inputs (Level 2) \| Senior unsecured notes - 6.50%, due February 15, 2029
Liabilities
Senior notes	796,125	759,917
Prices with Other Observable Inputs (Level 2) \| Senior unsecured notes - 6.00%, due January 15, 2030
Liabilities
Senior notes	486,675	467,401
Prices with Other Observable Inputs (Level 2) \| Exchangeable senior unsecured notes - 4.00%, due June 15, 2024 (discount is based on imputed interest rate of 4.77%)
Liabilities
Senior notes	122,140	127,024
Prices with Other Observable Inputs (Level 2) \| Convertible Senior Notes 2027, Excluding Over-Allotment Option
Liabilities
Senior notes	301,755	297,765
Prices with Other Observable Inputs (Level 2) \| Senior Secured Revolving Credit Facility
Liabilities
Senior secured loan	207,979	187,981
Prices with Unobservable Inputs (Level 3)
Liabilities
Settlement payable	0	0
Total	0	0
Prices with Unobservable Inputs (Level 3) \| Senior secured notes - 10.50%, due February 15, 2028
Liabilities
Senior notes	0
Prices with Unobservable Inputs (Level 3) \| Senior secured notes - 7.875%, due February 15, 2025
Liabilities
Senior notes		0
Prices with Unobservable Inputs (Level 3) \| Senior secured notes - 4.75%, due April 15, 2028
Liabilities
Senior notes	0	0
Prices with Unobservable Inputs (Level 3) \| Senior unsecured notes - 6.50%, due February 15, 2029
Liabilities
Senior notes	0	0
Prices with Unobservable Inputs (Level 3) \| Senior unsecured notes - 6.00%, due January 15, 2030
Liabilities
Senior notes	0	0
Prices with Unobservable Inputs (Level 3) \| Exchangeable senior unsecured notes - 4.00%, due June 15, 2024 (discount is based on imputed interest rate of 4.77%)
Liabilities
Senior notes	0	0
Prices with Unobservable Inputs (Level 3) \| Convertible Senior Notes 2027, Excluding Over-Allotment Option
Liabilities
Senior notes	0	0
Prices with Unobservable Inputs (Level 3) \| Senior Secured Revolving Credit Facility
Liabilities
Senior secured loan	$ 0	$ 0

Notes and Other Debt - Notes and Other Debt Narrative (Details) - USD ($) $ in Thousands	Dec. 12, 2022	Jun. 28, 2019	Dec. 31, 2023	Mar. 21, 2023	Dec. 31, 2022	Apr. 20, 2021	Feb. 02, 2021	Jun. 25, 2019
Debt Instrument [Line Items]
Principal amount			$ 5,617,442		$ 5,262,373
Senior Secured Revolving Credit Facility
Debt Instrument [Line Items]
Principal amount			208,000		188,000
Senior Secured Revolving Credit Facility \| Uniti Group LP, Uniti Group Finance 2019 Inc. and CSL Capital, LLC
Debt Instrument [Line Items]
Principal amount			208,000
Senior secured notes - 10.50%, due February 15, 2028
Debt Instrument [Line Items]
Principal amount			$ 2,600,000		$ 0
Issuance senior notes, stated percentage			10.50%		10.50%
Senior secured notes - 4.75%, due April 15, 2028
Debt Instrument [Line Items]
Principal amount			$ 570,000		$ 570,000
Issuance senior notes, stated percentage			4.75%		4.75%	4.75%
Senior unsecured notes - 6.50%, due February 15, 2029
Debt Instrument [Line Items]
Principal amount			$ 1,110,000		$ 1,110,000
Issuance senior notes, stated percentage			6.50%		6.50%		6.50%
Senior unsecured notes - 6.00%, due January 15, 2030
Debt Instrument [Line Items]
Principal amount			$ 700,000
Issuance senior notes, stated percentage			6.00%		6.00%
Convertible Senior Notes 2027
Debt Instrument [Line Items]
Principal amount			$ 306,500
Convertible Senior Notes 2027 \| Convertible Debt
Debt Instrument [Line Items]
Issuance senior notes, stated percentage			7.50%
Debt instrument, indenture exchange rate shares per thousand dollars principal amount	0.1371742
Exchangeable Notes
Debt Instrument [Line Items]
Principal amount		$ 345,000		$ 15,000
Issuance senior notes, stated percentage		4.00%						4.00%
Debt instrument, indenture exchange rate shares per thousand dollars principal amount		0.0804602

Leases - Components of Lease Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Leases [Abstract]
Operating Lease, Lease Income	$ 911,828	$ 892,414	$ 845,100
Operating Lease, Lease Income, Statement of Income or Comprehensive Income [Extensible Enumeration]	Revenues	Revenues

Earnings Per Share

12 Months Ended

Dec. 31, 2023

Earnings Per Share [Abstract]

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 have outstanding PSUs that contain forfeitable rights to receive dividends. Therefore, the awards are considered non-participating restrictive shares and not dilutive under the two-class method until performance conditions are met. During the year ended December 31, 2023, approximately 1,053,189 PSUs were excluded from the computation of diluted earnings per share, as their effect would have been anti-dilutive. During the year ended December 31, 2022, approximately 604,000 PSUs were excluded from the computation of diluted net loss per share because the performance conditions had not been met.

The dilutive effect of the Exchangeable Notes and the Convertible 2027 Notes (see Note 13) are 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 11) is calculated using the treasury-stock method. During the years ended December 31, 2023, 2022 and 2021, 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)	2023		2022		2021
Basic earnings per share:
Numerator:
Net (loss) income attributable to shareholders	$	(81,713)	$	(8,275)	$	123,660
Less: Income allocated to participating securities	(1,207)		(1,135)		(1,077)
Dividends declared on convertible preferred stock	(20)		(20)		(10)
Net (loss) income attributable to common shares	$	(82,940)	$	(9,430)	$	122,573
Denominator:
Basic weighted-average common shares outstanding	236,401		235,567		232,888
Basic (loss) earnings per common share	$	(0.35)	$	(0.04)	$	0.53


	Year Ended December 31,
(Thousands, except per share data)	2023		2022		2021
Diluted earnings per share:
Numerator:
Net (loss) income attributable to shareholders	$	(81,713)	$	(8,275)	$	123,660
Less: Income allocated to participating securities	(1,207)		(1,135)		(1,077)
Dividends declared on convertible preferred stock	(20)		(20)		(10)
Impact on if-converted dilutive securities	—		—		11,926
Net (loss) income attributable to common shares	$	(82,940)	$	(9,430)	$	134,499
Denominator:
Basic weighted-average common shares outstanding	236,401		235,567		232,888
Impact on if-converted dilutive securities	—		—		30,809
Effect of dilutive non-participating securities	—		—		380
Weighted-average shares for dilutive earnings per common share	236,401		235,567		264,077
Dilutive (loss) earnings per common share	$	(0.35)	$	(0.04)	$	0.51

For the year ended December 31, 2023, 53,700,524 potential common shares related to the Convertible 2027 Notes and the Exchangeable Notes were excluded from the computation of earnings per share, as their effect would have been anti-dilutive. For the year ended December 31, 2022, 33,472,978 potential common shares related to the Convertible 2027 Notes and the Exchangeable Notes were excluded from the computation of earnings per share, as their effect would have been anti-dilutive.

Summary of Significant Accounting Policies - Asset Retirement Obligations (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Accounting Policies [Abstract]
Aggregate carrying amount of asset retirement obligations	$ 16,800,000	$ 13,300,000
Asset retirement obligations liabilities Incurred	6,500,000	0
Asset retirement obligations accretion expense recognized	$ 2,800,000	$ 1,700,000	$ 1,500,000

Leases - Additional Information (Details)			12 Months Ended
Leases - Additional Information (Details)	Sep. 18, 2020 USD ($)	Sep. 18, 2018 USD ($) lease	Dec. 31, 2023 USD ($)
Leases [Line Items]
Short term lease commitments			$ 3,500,000
Number of master leases \| lease		2
Lessor, annual payment to be received		$ 663,000,000
New lease, aggregate reimbursements made for certain growth capital improvements			79,600,000
Reimbursement to fund growth capital improvements			873,800,000
Windstream
Leases [Line Items]
New lease, aggregate reimbursements made for certain growth capital improvements			1,750,000,000
Improvements will exclude maintenance or repair expenditures except for costs incurred for fiber replacements	$ 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 three	225,000,000
Future annual commitment payments for agreements due year four 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	125,000,000
Future annual commitment payments for agreements due year nine	125,000,000
Future annual commitment payments for agreements due year ten	125,000,000
Cumulative growth capital improvements annual reimbursement commitment amount limit in subsequent period	$ 250,000,000
Annual rent adjustment	8.00%
Rate used for rent percentage	100.50%
Maximum funding rights allocated per year upon transfer of interests	$ 20,000,000
New leases agreement to fund growth capital improvements, maximum annual amount			$ 25,000,000
Accrued interest rate for borrowing			8.00%
Reimbursement to fund growth capital improvements			$ 250,000,000
Amount allowed for under the settlement represented the reimbursement of capital improvements			35,100,000
Windstream \| Equipment Loan Agreement
Leases [Line Items]
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		$ 125,000,000
Maximum \| Windstream \| Senior Secured Revolving Credit Facility
Leases [Line Items]
Issuance senior notes, stated percentage			$ 750,000,000

Notes and Other Debt - Schedule of Notes and Other Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Apr. 20, 2021	Feb. 02, 2021
Debt Instrument [Line Items]
Principal amount	$ 5,617,442	$ 5,262,373
Less unamortized discount, premium and debt issuance costs	(93,863)	(73,558)
Notes and other debt, net	5,523,579	5,188,815
Senior secured notes - 7.875%, due February 15, 2025 (discount is based on imputed interest rate of 8.38%)
Debt Instrument [Line Items]
Principal amount	0	2,250,000
Less unamortized discount, premium and debt issuance costs	$ 0	$ (22,239)
Issuance senior notes, stated percentage	7.875%	7.875%
Imputed interest rate	8.38%	8.38%
Senior secured notes - 10.50%, due February 15, 2028
Debt Instrument [Line Items]
Principal amount	$ 2,600,000	$ 0
Less unamortized discount, premium and debt issuance costs	$ (48,290)	$ 0
Issuance senior notes, stated percentage	10.50%	10.50%
Imputed interest rate	11.06%	11.06%
Senior secured notes - 4.75%, due April 15, 2028 (discount is based on imputed interest rate of 5.04%)
Debt Instrument [Line Items]
Principal amount	$ 570,000	$ 570,000
Less unamortized discount, premium and debt issuance costs	$ (6,360)	$ (7,654)
Issuance senior notes, stated percentage	4.75%	4.75%	4.75%
Imputed interest rate	5.04%	5.04%
Senior unsecured notes - 6.50%, due February 15, 2029 (discount is based on imputed interest rate of 6.83%)
Debt Instrument [Line Items]
Principal amount	$ 1,110,000	$ 1,110,000
Less unamortized discount, premium and debt issuance costs	$ (15,761)	$ (18,245)
Issuance senior notes, stated percentage	6.50%	6.50%		6.50%
Imputed interest rate	6.83%	6.83%
Senior unsecured notes - 6.00%, due January 15, 2030 (discount is based on imputed interest rate of 6.27%)
Debt Instrument [Line Items]
Principal amount	$ 700,000	$ 700,000
Less unamortized discount, premium and debt issuance costs	$ (9,307)	$ (10,535)
Issuance senior notes, stated percentage	6.00%	6.00%
Imputed interest rate	6.27%	6.27%
Exchangeable senior unsecured notes - 4.00%, due June 15, 2024 (discount is based on imputed interest rate of 4.77%)
Debt Instrument [Line Items]
Principal amount	$ 122,942	$ 137,873
Less unamortized discount, premium and debt issuance costs	$ (427)	$ (1,501)
Issuance senior notes, stated percentage	4.00%	4.00%
Imputed interest rate	4.77%	4.77%
Convertible Senior Notes 2027, Excluding Over-Allotment Option
Debt Instrument [Line Items]
Principal amount	$ 306,500	$ 306,500
Less unamortized discount, premium and debt issuance costs	$ (8,092)	$ (9,768)
Issuance senior notes, stated percentage	7.50%	7.50%
Imputed interest rate	8.29%	8.29%
Senior Secured Revolving Credit Facility
Debt Instrument [Line Items]
Principal amount	$ 208,000	$ 188,000
Less unamortized discount, premium and debt issuance costs	$ (5,625)	$ (3,616)

Supplemental Cash Flow Information (Tables)

12 Months Ended

Dec. 31, 2023

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, 2023, 2022 and 2021 is as follows:


	Year Ended December 31,
(Thousands)	2023		2022		2021
Cash payments for:
Interest, net of capitalized interest	$	460,734	$	335,920	$	375,578
Income taxes, net of refunds	$	1,289	$	9,437	$	1,386

Audit Information	12 Months Ended
Audit Information	Dec. 31, 2023
Audit Information [Abstract]
Auditor Firm ID	185
Auditor Name	KPMG LLP
Auditor Location	Dallas, Texas

Income Taxes - Schedule of Reconciliation of Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Balance at January 1	$ 1,734	$ 1,734
Balance at December 31	$ 1,734	$ 1,734

Summary of Significant Accounting Policies - Settlement Payable (Details) $ in Millions			12 Months Ended
	Oct. 01, 2020 USD ($) installment	Sep. 18, 2020 USD ($) shares	Dec. 31, 2023 USD ($) shares	Dec. 31, 2022 shares
Summary Of Significant Accounting Policies [Line Items]
Common stock, shares issued (in shares) \| shares			236,559,000	235,829,000
Windstream Creditors \| Stock Purchase Agreements
Summary Of Significant Accounting Policies [Line Items]
Common stock, shares issued (in shares) \| shares		38,633,470
Windstream
Summary Of Significant Accounting Policies [Line Items]
Settlement payments \| $		$ 284.6	$ 313.4
Litigation settlement, amount awarded to other party \| $	$ 490.1
Litigation settlement, number of payment installments \| installment	20
Litigation settlement, prepayment discount rate	9.00%

Basis of Presentation and Consolidation (Tables)

12 Months Ended

Dec. 31, 2023

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Error Corrections and Prior Period Adjustments


	As of September 30, 2023
(Thousands)	As Reported		Adjustments		As Adjusted
Goodwill	$	208,378	$	(50,998)	$	157,380
Deferred income taxes, net	$	90,792	$	13,035	$	103,827
Total Assets	$	4,981,325	$	(37,963)	$	4,943,362
Distributions in excess of accumulated earnings	$	(3,665,569)	$	(37,946)	$	(3,703,515)
Total Uniti shareholders' deficit	$	(2,446,730)	$	(37,946)	$	(2,484,676)
Operating partnership units	$	2,040	$	(17)	$	2,023
Total shareholders' deficit	$	(2,444,440)	$	(37,963)	$	(2,482,403)
Total Liabilities and Shareholders' Deficit	$	4,981,325	$	(37,963)	$	4,943,362


	Three Months Ended September 30, 2023
(Thousands)	As Reported		Adjustments		As Adjusted
Goodwill impairment	$	153,000	$	50,998	$	203,998
Loss before income taxes and equity in earnings from unconsolidated entities	$	(124,698)	$	(50,998)	$	(175,696)
Income tax benefit	$	(43,095)	$	(13,035)	$	(56,130)
Net loss	$	(80,933)	$	(37,963)	$	(118,896)
Net loss attributable to noncontrolling interest	$	(36)	$	(17)	$	(53)
Net loss attributable to shareholders	$	(80,897)	$	(37,946)	$	(118,843)
Net loss attributable to common shareholders	$	(81,223)	$	(37,946)	$	(119,169)
Earnings per share - Basic	$	(0.34)	$	(0.16)	$	(0.50)
Earnings per share - Diluted	$	(0.34)	$	(0.16)	$	(0.50)

Comprehensive loss:
Net loss	$	(80,933)	$	(37,963)	$	(118,896)
Comprehensive loss	$	(80,933)	$	(37,963)	$	(118,896)
Comprehensive loss attributable to noncontrolling interest	$	(36)	$	(17)	$	(53)
Comprehensive loss attributable to shareholders	$	(80,897)	$	(37,946)	$	(118,843)


	Nine Months Ended September 30, 2023
(Thousands)	As Reported		Adjustments		As Adjusted
Goodwill impairment	$	153,000	$	50,998	$	203,998
Loss before income taxes and equity in earnings from unconsolidated entities	$	(126,360)	$	(50,998)	$	(177,358)
Income tax benefit	$	(49,864)	$	(13,035)	$	(62,899)
Net loss	$	(74,506)	$	(37,963)	$	(112,469)
Net loss attributable to noncontrolling interest	$	(33)	$	(17)	$	(50)
Net loss attributable to shareholders	$	(74,473)	$	(37,946)	$	(112,419)
Net loss attributable to common shareholders	$	(75,378)	$	(37,946)	$	(113,324)
Earnings per share - Basic	$	(0.32)	$	(0.16)	$	(0.48)
Earnings per share - Diluted	$	(0.32)	$	(0.16)	$	(0.48)

Comprehensive loss:
Net loss	$	(74,506)	$	(37,963)	$	(112,469)
Comprehensive loss	$	(74,506)	$	(37,963)	$	(112,469)
Comprehensive loss attributable to noncontrolling interest	$	(33)	$	(17)	$	(50)
Comprehensive loss attributable to shareholders	$	(74,473)	$	(37,946)	$	(112,419)


	Nine Months Ended September 30, 2023
(Thousands)	As Reported		Adjustments		As Adjusted
Cash Flows from Operating Activities
Net Loss	$	(74,506)	$	(37,963)	$	(112,469)
Adjustments to reconcile net loss to net cash provided by operating activities:
Deferred income taxes	$	(50,161)	$	(13,035)	$	(63,196)
Goodwill impairment	$	153,000	$	50,998	$	203,998
Net cash provided by operating activities	$	190,575	$	—	$	190,575

Assets and Liabilities Held for Sale - Schedule of Assets and Liabilities Held for Sale (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Total assets	$ 28,605	$ 0
Total liabilities	331	$ 0
Disposal Group, Held for Sale, Not qualified as Discontinued Operation \| CableSouth Transaction
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Property, plant and equipment, net	25,842
Straight-line revenue receivable	2,763
Total assets	28,605
Accounts payable, accrued expenses and other liabilities, net	67
Deferred revenue	264
Total liabilities	$ 331

Organization and Description of Business - Additional Information (Details) - segment	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2020
Organization And Description Of Business [Line Items]
Number of operating business segments	2	2
Uniti Group LP
Organization And Description Of Business [Line Items]
Percentage of partnership interests owned	99.96%

Schedule III - Real Estate Investments and Accumulated Depreciation

12 Months Ended

Dec. 31, 2023

SEC Schedule, 12-28, Real Estate Companies, Investment in 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, 2023

(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)	$	26,533	$	—	(2)	(2)	Indefinite
Building and improvements	—		(1)	(1)	(1)	347,700		211,190		(2)	(2)	3 - 40 years
Poles	—		(1)	(1)	(1)	314,489		202,610		(2)	(2)	30 years
Fiber	—		(1)	(1)	(1)	3,615,409		1,676,891		(2)	(2)	30 years
Copper	—		(1)	(1)	(1)	3,974,410		3,480,791		(2)	(2)	20 years
Conduit	—		(1)	(1)	(1)	90,087		73,022		(2)	(2)	30 years
Towers	—		(1)	(1)	(1)	58		23		(2)	(2)	20 years
Other assets	—		(1)	(1)	(1)	10,434		5,041		(2)	(2)	15 - 20 years
Construction in progress	—		(1)	(1)	(1)	16,512		—		(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, 2023, the amount of capitalized costs related to the Distribution Systems is as follows (millions):


Tenant capital improvements(4)	$	167.8
Growth capital improvements(5)	$	250.0

(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 $7.7 billion.

Uniti Group Inc.

Schedule III – Real Estate Investments and Accumulated Depreciation

As of December 31, 2023

(dollars in thousands)


	2023		2022
Gross amount at beginning	$	8,066,830	$	7,742,069
Additions during period:
Tenant capital improvements(1)	132,622		88,822
Growth capital improvements(1)	250,000		237,986
Acquisitions	28,244		23,426
Other	—		—
Total additions	410,866		350,234

Deductions during period:
Cost of real estate sold or disposed	25,004		25,473
Other	57,062		—
Total deductions	82,066		25,473

Balance at end	$	8,395,630	$	8,066,830
(1) During the year ended December 31, 2023, TCIs totaled $167.8 million, offset by $35.1 million which represented the reimbursement of Growth Capital Improvements completed in 2022 that were previously classified as TCIs and are included within the Growth Capital Improvement additions of $250.0 million.


	2023		2022
Gross amount of accumulated depreciation at beginning	$	5,509,904	$	5,366,918
Additions during period:
Depreciation	175,085		167,297
Other	—		—
Total additions	175,085		167,297

Deductions during period:
Amount of accumulated depreciation for assets sold or disposed	24,587		24,311
Other	10,834		—
Total deductions	35,421		24,311

Balance at end	$	5,649,568	$	5,509,904

Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2023

Share-Based Payment Arrangement [Abstract]

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, 2022	1,356,389	$	11.11
Granted	1,505,876	$	5.78
Forfeited	(66,088)	$	8.00
Vested	(699,184)	$	11.04
Unvested balance, December 31, 2023	2,096,993	$	7.41	$	12,121


(1)			The aggregate intrinsic value is calculated using the market value of our common stock as of December 29, 2023. The market value as of December 29, 2023 was $5.78 per share, which was the closing price of our common stock reported for transactions effected on the NASDAQ Global Select Market on December 29, 2023, the final trading day of 2023.

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, 2022	847,146	$	15.07
Granted	449,614	$	8.22
Forfeited	—	$	—
Vested	(243,572)	$	15.46
Unvested balance, December 31, 2023	1,053,188	$	12.06	$	6,087


(1)			The aggregate intrinsic value is calculated using the market value of our common stock as of December 29, 2023. The market value as of December 29, 2023 was $5.78 per share, which was the closing price of our common stock reported for transactions effected on the NASDAQ Global Select Market on December 29, 2023, the final trading day of 2023.

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, 2023, 2022 and 2021:


	Year Ended December 31,
	2023		2022		2021
Expected term (years)	3.0		3.0		3.0
Expected volatility	56.8	%	40.6	%	57.1	%
Expected annual dividend	0.0	%	0.0	%	0.0	%
Risk free rate	4.4	%	1.8	%	0.2	%

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, 2023, 2022 and 2021:


	Year Ended December 31,
	2023		2022		2021
Expected term (years)	0.5		0.5		0.5
Expected volatility	58.0	%	12.0	%	28.0	%
Expected annual dividend	12.2	%	6.1	%	5.5	%
Risk free rate	5.4	%	2.5	%	0.1	%

Consolidated Statements of Shareholders' Deficit - USD ($) $ in Thousands	Total	Cumulative Effect Adjustment for Adoption of New Accounting Standard	Preferred Stock	Common Stock	Additional Paid-in Capital	Additional Paid-in Capital Cumulative Effect Adjustment for Adoption of New Accounting Standard	Accumulated Other Comprehensive (Loss) Income	Distributions in Excess of Accumulated Earnings	Distributions in Excess of Accumulated Earnings Cumulative Effect Adjustment for Adoption of New Accounting Standard	Noncontrolling Interest - OP Units	Noncontrolling Interest - Non- voting Preferred Shares
Beginning balance (in shares) at Dec. 31, 2020			0
Beginning balance (in shares) at Dec. 31, 2020				231,261,958
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Accounting Standards Update [Extensible Enumeration]	ASU 2020-06
Beginning balance at Dec. 31, 2020	$ (2,072,376)	$ (45,310)	$ 0	$ 23	$ 1,209,141	$ (59,908)	$ (20,367)	$ (3,330,455)	$ 14,598	$ 69,157	$ 125
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	124,745							123,660		1,085
Other comprehensive income	11,317						11,203			114
Common stock dividends declared ($0.60 per share)	(141,284)							(141,284)
Distributions to noncontrolling interest	(1,285)									(1,285)
Exchange of noncontrolling interest (in shares)				2,768,199
Exchange of noncontrolling interest	0				55,178					(55,178)
Payments related to tax withholding for stock-based compensation	(4,100)				(4,100)
Stock-based compensation (in shares)				674,140
Stock-based compensation	13,847				13,847
Issuance of common stock - employee stock purchase plan (in shares)				74,950
Issuance of common stock - employee stock purchase plan	672				672
Ending balance (in shares) at Dec. 31, 2021			0
Ending balance (in shares) at Dec. 31, 2021				234,779,247
Ending balance at Dec. 31, 2021	(2,113,774)		$ 0	$ 23	1,214,830		(9,164)	(3,333,481)		13,893	125
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	(8,122)							(8,275)		153
Other comprehensive income	9,243						9,164			79
Common stock dividends declared ($0.60 per share)	(141,753)							(141,753)
Distributions to noncontrolling interest	(127)									(127)
Issuance of non-voting convertible preferred stock	0							(125)			125
Exchange of noncontrolling interest (in shares)				244,682
Exchange of noncontrolling interest	(4,620)				7,257					(11,877)
Payments related to tax withholding for stock-based compensation	(4,913)				(4,913)
Stock-based compensation (in shares)				735,702
Stock-based compensation	12,751				12,751
Issuance of common stock - employee stock purchase plan (in shares)				69,854
Issuance of common stock - employee stock purchase plan	589				589
Payments to settle capped call option	(21,149)				(21,149)
Payment for settlement of common stock warrant	(522)				(522)
Termination of bond hedge option	$ 1,190				1,190
Ending balance (in shares) at Dec. 31, 2022	0		0
Ending balance (in shares) at Dec. 31, 2022	235,829,000			235,829,485
Ending balance at Dec. 31, 2022	$ (2,271,206)		$ 0	$ 24	1,210,033		0	(3,483,634)		2,121	250
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividends (in dollars per share)	$ 0.60
Net (loss) income	$ (112,469)
Ending balance at Sep. 30, 2023	$ (2,482,403)
Beginning balance (in shares) at Dec. 31, 2022	0		0
Beginning balance (in shares) at Dec. 31, 2022	235,829,000			235,829,485
Beginning balance at Dec. 31, 2022	$ (2,271,206)		$ 0	$ 24	1,210,033		0	(3,483,634)		2,121	250
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	(81,749)							(81,713)		(36)
Other comprehensive income	0
Common stock dividends declared ($0.60 per share)	(142,893)							(142,893)
Distributions to noncontrolling interest	(64)									(64)
Payments related to tax withholding for stock-based compensation	(1,433)				(1,433)
Stock-based compensation (in shares)				556,475
Stock-based compensation	12,491				12,491
Issuance of common stock - employee stock purchase plan (in shares)				172,641
Issuance of common stock - employee stock purchase plan	730				730
Payment for settlement of common stock warrant	(56)				(56)
Termination of bond hedge option	$ 59				59
Ending balance (in shares) at Dec. 31, 2023	0		0
Ending balance (in shares) at Dec. 31, 2023	236,558,601			236,558,601
Ending balance at Dec. 31, 2023	$ (2,484,121)		$ 0	$ 24	$ 1,221,824		$ 0	$ (3,708,240)		$ 2,021	$ 250
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividends (in dollars per share)	$ 0.60

Property, Plant and Equipment (Tables)

12 Months Ended

Dec. 31, 2023

Property, Plant and Equipment [Abstract]

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, 2023		December 31, 2022
Land	Indefinite	$	30,099	$	28,845
Building and improvements	3 - 40 years	366,490		363,077
Poles	30 years	314,489		296,941
Fiber	30 years	4,835,623		4,434,506
Equipment	5 - 7 years	460,463		399,473
Copper	20 years	3,974,410		3,964,439
Conduit	30 years	90,087		89,963
Tower assets	20 years	1,221		5,619
Finance lease assets	See Note 3	52,589		73,487
Construction in progress	See Note 3	49,771		46,508
Other assets	15 - 20 years	10,436		10,436
Corporate assets	3 - 7 years	15,731		14,883
		10,201,409		9,728,177
Less accumulated depreciation		(6,219,340)		(5,973,630)
Property, plant and equipment, net		$	3,982,069	$	3,754,547

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

Commitments and Contingencies	12 Months Ended
Commitments and Contingencies	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	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. In accordance with ASC 450, we recorded $38.9 million of settlement expense within general and administrative expense within our Consolidated Statement of (Loss) Income during the first quarter of 2022, related to the settlement of that certain shareholder class action previously filed in the U.S. District Court for the Eastern District of Arkansas under the caption In re Uniti Group Inc. Securities Litigation (the “Class Action”). On June 17, 2022, the parties signed a stipulation of settlement related to the Class Action and plaintiffs moved for preliminary approval of the settlement. On November 7, 2022, the court granted final approval of the settlement. As the amount was not paid until the first quarter of 2024, it is recorded within accounts payable, accrued expenses and other liabilities, net within our Consolidated Balance Sheets as of December 31, 2023. Additionally, we recorded the probable insurance recovery of $38.9 million as a reduction to general and administrative expense during the first quarter of 2022 within our Consolidated Statement of (Loss) Income. As the recovery was not received until the first quarter of 2024, it is recorded within other assets on the Consolidated Balance Sheets as of December 31, 2023. On August 17, 2021, shareholders filed a derivative action on behalf of the Company in the Circuit Court for Baltimore City, Maryland, under the caption Mayer et al. v. Gunderman et al. (the “Mayer Derivative Action”). On February 11, 2022, a shareholder filed a derivative action on behalf of the Company in the federal District Court for the District of Maryland, under the caption Guzzo et al. v. Gunderman et al. (the “Guzzo Derivative Action” and together, with the Mayer Derivative Action, the "Derivative Actions"). Various members of the Company's board of directors and management team were named as defendants in the Derivative Actions. The allegations in the Derivative Actions are similar to those in the Class Action, and both sought unspecified damages, equity relief and related costs and fees. On March 3, 2023, the parties to the Derivative Actions signed a stipulation of settlement agreeing to settle the actions in exchange for non-monetary damages, and also agreeing to an award of attorney’s fees and expenses to plaintiffs’ counsel in both actions in the amount of $0.8 million. The court in the Mayer Derivative Action granted final approval to the settlement on May 9, 2023 and dismissed the action. On May 11, 2023, the parties to the Guzzo Derivative Action filed a stipulation and order of dismissal in the action based on the final approval of the settlement in the Mayer Derivative Action, which was entered on May 25, 2023. We maintain insurance policies that would provide coverage to various degrees for potential liabilities arising from the legal proceedings described above.

Consolidated Statements of Shareholders' Deficit (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Statement of Stockholders' Equity [Abstract]
Dividends (in dollars per share)	$ 0.60	$ 0.60

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Preferred stock, shares authorized (in shares)	50,000,000	50,000,000
Preferred stock, shares issued (in shares)	0	0
Common stock, shares outstanding (in shares)	236,558,601	235,829,000
Common stock, shares issued (in shares)	236,559,000	235,829,000
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	500,000,000	500,000,000
Preferred stock, shares outstanding (in shares)	0	0
Cumulative non-voting convertible preferred stock par value (in dollars per share)	$ 0.01	$ 0.01
Cumulative non-voting convertible preferred shares authorized (in shares)	6,000	6,000
Cumulative non-voting convertible preferred shares issued (in shares)	3,000	3,000
Cumulative non-voting convertible preferred shares outstanding (in shares)	3,000	3,000

Assets and Liabilities Held for Sale - Additional Information (Details) - Macquarie Asset Management - Disposal Group, Held for Sale, Not qualified as Discontinued Operation - CableSouth Transaction - USD ($) $ in Millions	Jan. 31, 2024	Dec. 31, 2023
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Cash consideration		$ 40
Subsequent Event
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Cash consideration	$ 40

Income Taxes - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Aug. 31, 2016
Income Taxes [Line Items]
Deferred tax asset, valuation allowance	$ 0
Net operating loss	164,400,000
Interest and penalties net of tax recognized	0
Accrued interest and penalties on unrecognized tax benefits	1,300,000
Tower Cloud, Inc.
Income Taxes [Line Items]
Percentage of equity acquired		100.00%
Tax Without Expire Period
Income Taxes [Line Items]
Net operating loss	$ 391,300,000

Income Taxes

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

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 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 are subject to the statutory requirements of the locations in which we conduct business, and state and local income taxes are accrued as deemed required in the best judgment of management based on analysis and interpretation of respective tax laws.

We have elected to treat the subsidiaries through which we operate Uniti Fiber and certain subsidiaries of Uniti Leasing 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, 2023, 2022 and 2021 as reported in the accompanying Consolidated Statements of (Loss) Income was comprised of the following:


	Year Ended December 31,
(Thousands)	2023		2022		2021
Current
Federal	$	(753)	$	8,782	$	(71)
State	776		2,762		1,622
Total current expense	23		11,544		1,551

Deferred
Federal	(53,188)		(22,804)		(5,066)
State	(15,309)		(6,105)		(1,401)
Total deferred benefit	(68,497)		(28,909)		(6,467)
Total income tax benefit	$	(68,474)	$	(17,365)	$	(4,916)

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)	2023		2022		2021
Income (loss) from continuing operations, before tax	$	(150,223)	$	(25,487)	$	119,844
Income tax expense (benefit) at U.S. statutory federal rate	(31,547)		(5,352)		25,167
Increases (decreases) resulting from:
State taxes, net of federal benefit	(11,219)		(2,255)		288
Benefit of REIT status	(24,796)		(46,604)		(30,565)
Impairment of nondeductible goodwill	—		36,895		—
Return to accrual	(1,298)		(44)		193
Permanent differences	386		(5)		1
Income tax benefit	$	(68,474)	$	(17,365)	$	(4,916)

The effective tax rate on income from continuing operations differs from tax at the statutory rate primarily due to our status as a REIT, and goodwill impairment which is not fully deductible for tax purposes in all years presented.

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, 2023		December 31, 2022
Deferred tax assets:
Deferred revenue	$	31,123	$	30,616
Stock-based compensation	629		528
Asset retirement obligation	1,511		2,213
Inventory reserve	133		140
Excess business interest expense	24,090		14,037
Lease asset liability	12,715		14,325
Settlement obligation	605		680
Debt discount and interest expense	841		2,593
Other intangible amortization	27,494		—
Other	4,560		3,035
Net operating loss carryforwards	156,482		143,733
Deferred tax assets	$	260,183	$	211,900

Deferred tax liabilities:
Property, plant and equipment	$	(97,459)	$	(94,889)
Customer list intangible	(37,159)		(39,125)
Other intangible amortization	—		(18,320)
Right of use asset	(12,489)		(15,384)
Deferred or prepaid costs	(3,792)		(3,533)
Other	(156)		(18)
Deferred tax liabilities	$	(151,055)	$	(171,269)

Deferred tax asset, net	$	109,128	$	40,631

As of December 31, 2023, 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. Management has evaluated sources of future taxable income, including the Company’s significant deferred tax liabilities and available tax planning strategies, and determined that sufficient positive evidence exists as of December 31, 2023, 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.

We have total federal NOL carryforwards as of December 31, 2023 of approximately $164.4 million which will expire between 2030 and 2037, and approximately $391.3 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., whose outstanding equity we acquired 100% of in August 2016, and Uniti Fiber Holdings Inc., our 2020 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)	2023		2022
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, 2023. The Company’s balance of accrued interest and penalties related to unrecognized tax benefits as of December 31, 2023 was $1.3 million.

- Definition

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.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//740/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-14

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-21

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 270
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482526/740-270-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-17

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482603/740-30-50-2

+ Details

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Cash flow from operating activities
Net (loss) income	$ (81,749)	$ (8,122)	$ 124,745
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation and amortization	310,528	292,788	290,942
Amortization of deferred financing costs and debt discount	18,498	18,147	18,122
Loss (Gain) on debt extinguishment	31,187	(10,754)	49,280
Interest rate swap termination	0	9,243	11,317
Deferred income taxes	(68,497)	(28,909)	(6,467)
Equity in earnings from unconsolidated entities	(2,662)	(2,371)	(2,102)
Distributions of cumulative earnings from unconsolidated entities	3,964	3,969	3,922
Cash paid for interest rate swap settlement	0	(10,413)	(12,483)
Straight-line rental revenues	(37,944)	(40,925)	(41,239)
Stock-based compensation	12,491	12,751	13,847
Gain on sale of operations	0	(176)	(28,143)
Gain on sale of unconsolidated entity	(2,646)	(7,923)	0
Goodwill impairment (Note 3)	203,998	240,500	0
Gain on prepayment of settlement payable (Note 3)	0	0	(5,432)
(Gain) Loss on asset disposals	(573)	898	(213)
Gain on sale of real estate	(2,164)	(433)	(442)
Accretion of settlement payable	10,506	11,714	16,901
Other	701	(72)	145
Changes in assets and liabilities, net of acquisitions:
Accounts receivable	(3,727)	(4,176)	24,497
Other assets	15,795	15,148	14,161
Accounts payable, accrued expenses and other liabilities	(54,577)	(30,769)	27,799
Net cash provided by operating activities	353,129	460,115	499,157
Cash flow from investing activities
Proceeds from sale of other equipment	3,146	1,815	1,487
Proceeds from sale of operations (Note 6)	0	541	62,113
Proceeds from sale of real estate, net of cash	2,545	665	1,034
Proceeds from sale of unconsolidated entity	0	32,527	0
Capital expenditures	(417,002)	(427,567)	(385,855)
Net cash used in by investing activities	(411,311)	(392,019)	(321,221)
Cash flow from financing activities
Repayment of debt	(2,263,662)	(194,043)	(2,260,000)
Proceeds from issuance of Notes	2,600,000	306,500	2,380,000
Dividends paid	(107,405)	(142,950)	(141,371)
Payments of settlement payable	(98,022)	0	(190,924)
Payments of contingent consideration	0	0	(2,979)
Borrowings under revolving credit facility	506,000	180,000	310,000
Payments under revolving credit facility	(486,000)	(192,000)	(220,000)
Finance lease payments	(2,262)	(1,193)	(2,019)
Payments for financing costs	(26,955)	(9,852)	(27,660)
Payments for capped call option	0	(21,149)	0
Payment for settlement of common stock warrant	(56)	(522)	0
Proceeds from termination of bond hedge option	59	1,190	0
Costs related to early repayment of debt	(44,303)	0	(36,486)
Distributions paid to noncontrolling interest	(48)	(233)	(1,700)
Payment for exchange of noncontrolling interest	0	(4,620)	0
Proceeds from employee stock purchase plan	730	589	672
Payments related to tax withholding for stock-based compensation	(1,433)	(4,913)	(4,100)
Net cash provided by (used in) financing activities	76,643	(83,196)	(196,567)
Net increase (decrease) in cash and cash equivalents	18,461	(15,100)	(18,631)
Cash and cash equivalents at beginning of period	43,803	58,903	77,534
Cash and cash equivalents at end of period	62,264	43,803	58,903
Non-cash investing and financing activities:
Property and equipment acquired but not yet paid	8,798	8,519	15,395
Tenant capital improvements	167,763	119,685	139,012
Sale of unconsolidated entity	$ 40,000	$ 0	$ 0

Summary of Significant Accounting Policies - Allowance for Credit Losses (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Accounting Policies [Abstract]
Allowance for credit loss, excluding accrued interest	$ 3.2	$ 2.9
Credit loss expense (reversal), excluding accrued interest	$ 1.2	$ 0.6	$ 1.5

Business Combinations, Asset Acquisitions and Dispositions

12 Months Ended

Dec. 31, 2023

Business Combinations [Abstract]

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 (Loss) Income.


(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

Notes and Other Debt - The Notes and Deferred Financing Cost Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands									1 Months Ended	3 Months Ended		12 Months Ended
	Mar. 21, 2023	Dec. 12, 2022	Dec. 07, 2022	Dec. 15, 2021	Oct. 13, 2021	May 06, 2021	Jan. 01, 2021	Jun. 28, 2019	Dec. 31, 2022	Mar. 31, 2023	Jun. 30, 2021	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Feb. 14, 2023	Apr. 20, 2021	Feb. 02, 2021	Dec. 31, 2020	Jun. 25, 2019
Debt Instrument [Line Items]
Principal amount									$ 5,262,373			$ 5,617,442	$ 5,262,373
Gain (loss) on extinguishment of debt												(31,187)	10,754	$ (49,280)
Interest expense, net												512,349	376,832	446,296
Additional paid-in capital									1,210,033			1,221,824	1,210,033
Payments for capped call option												0	21,149	0
Amortization of deferred financing costs												18,100	17,500	16,500
Convertible Debt
Debt Instrument [Line Items]
Proceeds from debt, net of issuance costs													$ 198,100
Payments for capped call option			$ 21,100						$ 21,100
Cumulative Effect Adjustment for Adoption of New Accounting Standard
Debt Instrument [Line Items]
Additional paid-in capital							$ (59,900)
Deferred tax liabilities							(15,800)
Retained earnings							14,600
Exchangeable Notes
Debt Instrument [Line Items]
Issuance of senior notes, principal amount								$ 345,000
Issuance senior notes, stated percentage								4.00%											4.00%
Principal amount	$ 15,000							$ 345,000
Gain (loss) on extinguishment of debt		$ 10,800								$ 1,100
Debt issuance cost								$ 2,900		100
Debt instrument, indenture exchange price per share								$ 12.43
Debt instrument, redemption price, percentage								100.00%
Debt instrument, redemption threshold percentage of stock price								130.00%
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
Repayments of long-term debt	$ 13,700
Gain on extinguishment of debt, before write off of debt issuance cost		13,100
Write off of deferred debt issuance cost		$ 2,300
Exchangeable Senior Unsecured Notes \| Cumulative Effect Adjustment for Adoption of New Accounting Standard
Debt Instrument [Line Items]
Principal amount							$ 336,500
Effective interest rate							4.80%											11.10%
Increase in carrying amount of debt due to adoption							$ 61,100
Exchangeable Senior Unsecured Notes \| Cumulative Effect Adjustment for Adoption of New Accounting Standard \| ASU 2020-06
Debt Instrument [Line Items]
Principal amount																		$ 275,400
Convertible Senior Notes 2027
Debt Instrument [Line Items]
Principal amount												$ 306,500
Convertible Senior Notes 2027 \| Convertible Debt
Debt Instrument [Line Items]
Issuance senior notes, stated percentage												7.50%
Debt instrument, indenture exchange price per share		$ 7.29
Extinguishment of debt, amount		$ 207,100
Repayments of long-term debt		194,000
Proceeds from long-term debt		298,100
Convertible Senior Notes 2027, Excluding Over-Allotment Option
Debt Instrument [Line Items]
Issuance senior notes, stated percentage									7.50%			7.50%	7.50%
Principal amount									$ 306,500			$ 306,500	$ 306,500
Effective interest rate									8.29%			8.29%	8.29%
Convertible Senior Notes 2027, Excluding Over-Allotment Option \| Convertible Debt
Debt Instrument [Line Items]
Issuance of senior notes, principal amount		$ 300,000
Convertible Senior Notes 2027, Over-Allotment Option \| Convertible Debt
Debt Instrument [Line Items]
Issuance of senior notes, principal amount			$ 6,500
Senior secured notes - 10.50%, due February 15, 2028
Debt Instrument [Line Items]
Issuance of senior notes, principal amount															$ 2,600,000
Issuance senior notes, stated percentage									10.50%			10.50%	10.50%
Principal amount									$ 0			$ 2,600,000	$ 0
Effective interest rate									11.06%			11.06%	11.06%
Senior secured notes - 7.875%, due February 15, 2025
Debt Instrument [Line Items]
Issuance senior notes, stated percentage									7.875%			7.875%	7.875%
Principal amount									$ 2,250,000			$ 0	$ 2,250,000
Effective interest rate									8.38%			8.38%	8.38%
Senior secured notes - 7.875%, due February 15, 2025 \| Uniti Group LP, Uniti Group Finance 2019 Inc. and CSL Capital, LLC
Debt Instrument [Line Items]
Principal amount															$ 2,250,000
Gain (loss) on extinguishment of debt										32,300
Debt issuance cost										10,300
Interest expense, net										$ 22,000
Senior secured notes - 7.875%, due February 15, 2025 \| Operating Partnership, CSL Capital, LLC, Uniti Group Finance 2019 Inc. and Uniti Fiber
Debt Instrument [Line Items]
Issuance senior notes, stated percentage															7.875%
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%
Repayments of debt instrument						$ 550,000
Debt issuance cost											$ 1,300
Interest expense, net											3,000
6.00% Senior Secured Notes \| Interest Expense
Debt Instrument [Line Items]
Loss on repayment of tendered notes											$ 4,300
Senior secured notes - 4.75%, due April 15, 2028
Debt Instrument [Line Items]
Issuance senior notes, stated percentage									4.75%			4.75%	4.75%			4.75%
Principal amount									$ 570,000			$ 570,000	$ 570,000
Effective interest rate									5.04%			5.04%	5.04%
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]
Issuance senior notes, stated percentage																	8.25%
Debt issuance cost														21,500
Interest expense, net														17,600
8.25% Senior Unsecured Notes \| Interest Expense
Debt Instrument [Line Items]
Loss on repayment of tendered notes														39,100
Senior unsecured notes - 6.50%, due February 15, 2029
Debt Instrument [Line Items]
Issuance senior notes, stated percentage									6.50%			6.50%	6.50%				6.50%
Principal amount									$ 1,110,000			$ 1,110,000	$ 1,110,000
Effective interest rate									6.83%			6.83%	6.83%
6.00% Senior Unsecured Notes due 2030
Debt Instrument [Line Items]
Issuance of senior notes, principal amount					$ 700,000
Issuance senior notes, stated percentage					6.00%
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]
Issuance senior notes, stated percentage												7.125%
Repayments of debt instrument				$ 600,000
Debt issuance cost														1,800
Interest expense, net														4,100
7.125% Senior Unsecured Notes \| Interest Expense
Debt Instrument [Line Items]
Loss on repayment of tendered notes														$ 5,900

Supplemental Cash Flow Information

12 Months Ended

Dec. 31, 2023

Supplemental Cash Flow Information [Abstract]

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, 2023, 2022 and 2021 is as follows:


	Year Ended December 31,
(Thousands)	2023		2022		2021
Cash payments for:
Interest, net of capitalized interest	$	460,734	$	335,920	$	375,578
Income taxes, net of refunds	$	1,289	$	9,437	$	1,386

Leases - Schedule of Other Information Related to Leases (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows for finance leases	$ 1,575	$ 1,437
Operating cash flows for operating leases	22,326	19,874
Financing cash flows for finance leases	2,262	1,193	$ 2,019
Non-cash items:
New operating leases and remeasurements, net	32,490	23,173
New finance leases	$ 5,687	$ 1,314

Schedule II - Valuation and Qualifying Account

12 Months Ended

Dec. 31, 2023

SEC Schedule, 12-09, 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, 2023	$	2,876	$	1,302	$	—	$	(935)	$	3,243
Year Ended December 31, 2022	$	2,717	$	571	$	17	$	(429)	$	2,876
Year Ended December 31, 2021	$	2,940	$	1,522	$	—	$	(1,745)	$	2,717

Business Combinations, Asset Acquisitions and Dispositions - Additional Information (Details) $ in Thousands		3 Months Ended
	May 28, 2021 USD ($) lease	Jun. 30, 2021 USD ($)
Business Acquisition [Line Items]
Lessor, number of leases \| lease	2
Lease agreements, term	20 years
Everstream Solutions LLC
Business Acquisition [Line Items]
Cash consideration	$ 62,113
Everstream Solutions LLC \| Uniti Fiber Northeast Operations And Certain Dark Fiber Indefeasible Rights Of Use Contracts
Business Acquisition [Line Items]
Cash consideration	$ 135,000
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

Schedule III - Real Estate Investments and Accumulated Depreciation (Details) - USD ($)		12 Months Ended
	Sep. 18, 2020	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Real Estate And Accumulated Depreciation [Line Items]
Gross Amount Carried at Close of Period		$ 8,395,630,000	$ 8,066,830,000	$ 7,742,069,000
Accumulated Depreciation		5,649,568,000	5,509,904,000	5,366,918,000
Tenant capital improvements		167,763,000	119,685,000	$ 139,012,000
Growth capital improvements		250,000,000	$ 237,986,000
New lease, aggregate reimbursements made for certain growth capital improvements		79,600,000
Aggregate cost of real estate federal income tax		7,700,000,000
Windstream
Real Estate And Accumulated Depreciation [Line Items]
New lease, aggregate reimbursements made for certain growth capital improvements		1,750,000,000
Maximum \| Windstream
Real Estate And Accumulated Depreciation [Line Items]
New lease, aggregate reimbursements made for certain growth capital improvements	$ 1,750,000,000	125,000,000
Land
Real Estate And Accumulated Depreciation [Line Items]
Gross Amount Carried at Close of Period		26,533,000
Building and improvements
Real Estate And Accumulated Depreciation [Line Items]
Gross Amount Carried at Close of Period		347,700,000
Accumulated Depreciation		$ 211,190,000
Building and improvements \| Minimum
Real Estate And Accumulated Depreciation [Line Items]
Depreciable Lives		3 years
Building and improvements \| Maximum
Real Estate And Accumulated Depreciation [Line Items]
Depreciable Lives		40 years
Poles
Real Estate And Accumulated Depreciation [Line Items]
Gross Amount Carried at Close of Period		$ 314,489,000
Accumulated Depreciation		$ 202,610,000
Depreciable Lives		30 years
Fiber
Real Estate And Accumulated Depreciation [Line Items]
Gross Amount Carried at Close of Period		$ 3,615,409,000
Accumulated Depreciation		$ 1,676,891,000
Depreciable Lives		30 years
Copper
Real Estate And Accumulated Depreciation [Line Items]
Gross Amount Carried at Close of Period		$ 3,974,410,000
Accumulated Depreciation		$ 3,480,791,000
Depreciable Lives		20 years
Conduit
Real Estate And Accumulated Depreciation [Line Items]
Gross Amount Carried at Close of Period		$ 90,087,000
Accumulated Depreciation		$ 73,022,000
Depreciable Lives		30 years
Towers
Real Estate And Accumulated Depreciation [Line Items]
Gross Amount Carried at Close of Period		$ 58,000
Accumulated Depreciation		$ 23,000
Depreciable Lives		20 years
Other assets
Real Estate And Accumulated Depreciation [Line Items]
Gross Amount Carried at Close of Period		$ 10,434,000
Accumulated Depreciation		$ 5,041,000
Other assets \| Minimum
Real Estate And Accumulated Depreciation [Line Items]
Depreciable Lives		15 years
Other assets \| Maximum
Real Estate And Accumulated Depreciation [Line Items]
Depreciable Lives		20 years
Construction in progress
Real Estate And Accumulated Depreciation [Line Items]
Gross Amount Carried at Close of Period		$ 16,512,000

Earnings Per Share - Schedule of Earnings Per Share Basic and Diluted (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended	9 Months Ended	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2023	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Numerator:
Net (loss) income attributable to shareholders	$ (118,843)	$ (112,419)	$ (81,713)	$ (8,275)	$ 123,660
Less: Income allocated to participating securities			(1,207)	(1,135)	(1,077)
Dividends declared on convertible preferred stock			(20)	(20)	(10)
Net (loss) income attributable to common shares	$ (119,169)	$ (113,324)	$ (82,940)	$ (9,430)	$ 122,573
Denominator:
Basic weighted-average common shares outstanding (in shares)			236,401	235,567	232,888
Basic (loss) earnings per common share (in dollars per share)	$ (0.50)	$ (0.48)	$ (0.35)	$ (0.04)	$ 0.53
Numerator:
Net (loss) income attributable to shareholders	$ (118,843)	$ (112,419)	$ (81,713)	$ (8,275)	$ 123,660
Less: Income allocated to participating securities			(1,207)	(1,135)	(1,077)
Dividends declared on convertible preferred stock			(20)	(20)	(10)
Impact on if-converted dilutive securities			0	0	11,926
Net (loss) income attributable to common shares			$ (82,940)	$ (9,430)	$ 134,499
Denominator:
Basic weighted-average common shares outstanding (in shares)			236,401	235,567	232,888
Impact on if-converted dilutive securities (in shares)			0	0	30,809
Effect of dilutive non-participating securities (in shares)			0	0	380
Weighted-average shares for dilutive earnings per common share (in shares)			236,401	235,567	264,077
Diluted (loss) earnings per common share (in dollars per share)	$ (0.50)	$ (0.48)	$ (0.35)	$ (0.04)	$ 0.51

Segment Information - Summary of Total Assets by Business Segment (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Sep. 30, 2023	Dec. 31, 2022
Segment Reporting Information [Line Items]
Total assets	$ 5,025,129	$ 4,943,362	$ 4,851,229
Corporate
Segment Reporting Information [Line Items]
Total assets	131,776		69,159
Uniti Leasing \| Operating Segments
Segment Reporting Information [Line Items]
Total assets	2,936,972		2,705,934
Uniti Fiber \| Operating Segments
Segment Reporting Information [Line Items]
Total assets	$ 1,956,381		$ 2,076,136

- Definition

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.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/exampleRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(B))
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-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
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-Section S99
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Reference 22: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
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Reference 23: http://www.xbrl.org/2009/role/commonPracticeRef
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-SubTopic 10
-Name Accounting Standards Codification
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-Paragraph 7
-Subparagraph (a)
-Publisher FASB
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Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Paragraph 30
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Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (d)
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Reference 26: http://fasb.org/us-gaap/role/ref/legacyRef
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479853/942-210-S99-1

+ Details

Fair Value of Financial Instruments

12 Months Ended

Dec. 31, 2023

Fair Value Disclosures [Abstract]

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; and

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, settlement payable, contingent consideration and accounts, interest and dividends payable.

The following table summarizes the fair value of our financial instruments at December 31, 2023 and 2022:


(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, 2023
Liabilities
Senior secured notes - 10.50%, due February 15, 2028	$	2,624,596	$	—	$	2,624,596	$	—
Senior secured notes - 4.75%, due April 15, 2028	488,205		—		488,205		—
Senior unsecured notes - 6.50%, due February 15, 2029	796,125		—		796,125		—
Senior unsecured notes - 6.00%, due January 15, 2030	486,675		—		486,675		—
Exchangeable senior unsecured notes - 4.00%, due June 15, 2024	122,140		—		122,140		—
Convertible senior notes - 7.50% due December 1, 2027	301,755		—		301,755		—
Senior secured revolving credit facility, variable rate, due September 24, 2027	207,979		—		207,979		—
Settlement payable	160,550		—		160,550		—
Total	$	5,188,025	$	—	$	5,188,025	$	—


(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, 2022
Liabilities
Senior secured notes - 7.875%, due February 15, 2025	$	2,208,319	$	—	$	2,208,319	$	—
Senior secured notes - 4.75%, due April 15, 2028	469,740		—		469,740		—
Senior unsecured notes - 6.50%, due February 15, 2029	759,917		—		759,917		—
Senior unsecured notes - 6.00%, due January 15, 2030	467,401		—		467,401		—
Exchangeable senior unsecured notes - 4.00%, due June 15, 2024	127,024		—		127,024		—
Convertible senior notes - 7.50%, due December 1, 2027	297,765		—		297,765		—
Senior secured revolving credit facility, variable rate, due December 10, 2024	187,981		—		187,981		—
Settlement payable	232,350		—		232,350		—
Total	$	4,750,497	$	—	$	4,750,497	$	—

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 $5.62 billion at December 31, 2023, with a fair value of $5.03 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 11.

Given the limited trade activity of the Exchangeable Notes, the fair value of the Exchangeable Notes (see Note 13) 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 $490.1 million of cash payments to Windstream in equal installments over 20 consecutive quarters beginning October 2020 (the “Settlement Payable”) (see Note 3). 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 $163.6 million and is reported as settlement payable on our Consolidated Balance Sheets at December 31, 2023. There have been no changes in the valuation methodologies used since the initial recording.

- Definition

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

Accumulated Other Comprehensive Income

12 Months Ended

Dec. 31, 2023

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Accumulated Other Comprehensive Income

In 2015, we entered into fixed for floating interest rate swap agreements to mitigate the interest rate risk inherent in our variable rate senior secured term loan facility. As result of the repayment of the senior secured term loan facility in 2020, we entered into receive-fixed interest rate swaps to offset our existing pay-fixed interest rate swaps, which matured on October 24, 2022. The Company discontinued hedge accounting as the hedge accounting requirements were no longer met

and amounts in accumulated other comprehensive (loss) income as of the date of de-designation, were reclassified to interest expense as the hedged transactions impacted earnings.

Changes in accumulated other comprehensive income (loss) by component is as follows for the years ended December 31, 2023, 2022 and 2021:


(Thousands)	2023		2022		2021
Cash flow hedge changes in fair value (loss) gain:
Balance at beginning of period	$	(30,353)	$	(30,353)	$	(30,353)
Other comprehensive loss before reclassifications	—		—		—
Amounts reclassified from accumulated other comprehensive income	—		—		—
Net other comprehensive loss	(30,353)		(30,353)		(30,353)
Less: Other comprehensive loss attributable to noncontrolling interest	—		—		—
Balance at end of period	(30,353)		(30,353)		(30,353)
Interest rate swap termination:
Balance at beginning of period attributable to common shareholders	30,353		21,189		9,986
Amounts reclassified from accumulated other comprehensive income	—		9,243		11,317
Balance at end of period	30,353		30,432		21,303
Less: Other comprehensive income attributable to noncontrolling interest	—		79		114
Balance at end of period attributable to common shareholders	30,353		30,353		21,189
Accumulated other comprehensive income (loss) at end of period	$	—	$	—	$	(9,164)

Accumulated Other Comprehensive Income - Schedule of Changes in Accumulated Other Comprehensive Income (Loss) by Component (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	$ (2,271,206)	$ (2,113,774)	$ (2,072,376)
Net other comprehensive loss	0	9,243	11,317
Ending balance	(2,484,121)	(2,271,206)	(2,113,774)
Accumulated Other Comprehensive (Loss) Income
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	0	(9,164)	(20,367)
Net other comprehensive loss		9,164	11,203
Ending balance	0	0	(9,164)
Accumulated Other Comprehensive (Loss) Income \| Non-Terminated Derivatives
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(30,353)	(30,353)	(30,353)
Other comprehensive loss before reclassifications	0	0	0
Amounts reclassified from accumulated other comprehensive income	0	0	0
Net other comprehensive loss	(30,353)	(30,353)	(30,353)
Ending balance		(30,353)	(30,353)
Accumulated Other Comprehensive (Loss) Income \| Terminated Interest Rate Swap
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	30,353	21,189	9,986
Amounts reclassified from accumulated other comprehensive income	0	9,243	11,317
Net other comprehensive loss	30,353	30,432	21,303
Ending balance		30,353	21,189
AOCI Attributable to Noncontrolling Interest \| Non-Terminated Derivatives
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Net other comprehensive loss	0	0	0
AOCI Attributable to Noncontrolling Interest \| Terminated Interest Rate Swap
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Net other comprehensive loss	0	(79)	(114)
AOCI Including Portion Attributable to Noncontrolling Interest \| Non-Terminated Derivatives
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Net other comprehensive loss	(30,353)	(30,353)	(30,353)
AOCI Including Portion Attributable to Noncontrolling Interest \| Terminated Interest Rate Swap
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Net other comprehensive loss	$ 30,353	$ 30,353	$ 21,189

Fair Value of Financial Instruments - Additional Information (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($) Installment	Dec. 31, 2022 USD ($)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Principal amount	$ 5,617,442	$ 5,262,373
Settlement payable (Note 3)	163,583	$ 251,098
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
Settlement payable (Note 3)	$ 163,600
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	$ 5,030,000

Dividends (Distributions) (Details) - $ / shares	12 Months Ended
Dividends (Distributions) (Details) - $ / shares	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Dividends Payable [Line Items]
Dividends paid (in dollars per share)	$ 0.45	$ 0.75	$ 0.45
Ordinary dividends
Dividends Payable [Line Items]
Dividends paid (in dollars per share)	0.45	0.75	0.45
Capital gain distribution
Dividends Payable [Line Items]
Dividends paid (in dollars per share)	$ 0	$ 0	$ 0

Revenues - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Revenue Recognition [Line Items]
Accounts receivable, net	$ 46,358	$ 42,631
Contract with customer, receivable, after allowance for credit loss	18,800	16,100
Revenue recognized that was included in the contract liability	4,100	6,400	$ 13,200
Future revenues under contract	645,000
Contracts currently being invoiced	589,000
Backlog for sales bookings	$ 56,000
Average remaining contract term of backlog sales bookings	5 years 2 months 12 days
Operating Lease Receivable
Revenue Recognition [Line Items]
Accounts receivable, net	$ 22,000	$ 26,200
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2024-01-01
Revenue Recognition [Line Items]
Average remaining contract term for contracts currently billing	3 years 3 months 18 days

Stock-Based Compensation

12 Months Ended

Dec. 31, 2023

Share-Based Payment Arrangement [Abstract]

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, 2023, the Company granted 1,505,876 shares of restricted stock to employees, which had a fair value of $8.7 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, 2023, there were 8,636,162 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, 2022	1,356,389	$	11.11
Granted	1,505,876	$	5.78
Forfeited	(66,088)	$	8.00
Vested	(699,184)	$	11.04
Unvested balance, December 31, 2023	2,096,993	$	7.41	$	12,121


(1)			The aggregate intrinsic value is calculated using the market value of our common stock as of December 29, 2023. The market value as of December 29, 2023 was $5.78 per share, which was the closing price of our common stock reported for transactions effected on the NASDAQ Global Select Market on December 29, 2023, the final trading day of 2023.

During the year ended December 31, 2022, there were 925,059 shares of restricted stock granted with a weighted-average fair value of $9.52 per share. During the year ended December 31, 2021, there were 691,241 shares of restricted stock granted with a weighted-average fair value of $11.82 per share.

The total fair value of shares vested for the years ended December 31, 2023, 2022 and 2021 was $7.7 million, $9.1 million and $9.9 million, respectively.

As of December 31, 2023, total unrecognized compensation expense on restricted awards was approximately $9.0 million, and the expense is expected to be recognized over a weighted average vesting period of 1.0 year.

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 27, 2023, we issued 449,614 PSUs equal to 100% of the target amount, with an aggregate fair value of $3.7 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, 2023, no 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, 2022	847,146	$	15.07
Granted	449,614	$	8.22
Forfeited	—	$	—
Vested	(243,572)	$	15.46
Unvested balance, December 31, 2023	1,053,188	$	12.06	$	6,087


(1)			The aggregate intrinsic value is calculated using the market value of our common stock as of December 29, 2023. The market value as of December 29, 2023 was $5.78 per share, which was the closing price of our common stock reported for transactions effected on the NASDAQ Global Select Market on December 29, 2023, the final trading day of 2023.

During the year ended December 31, 2022, there were 425,010 PSUs granted with a weighted-average fair value of $14.42 per share. During the year ended December 31, 2021, there were 216,085 PSUs granted with a weighted-average fair value of $16.27 per share.

As of December 31, 2023, total unrecognized compensation expense related to PSUs was approximately $6.4 million, and the weighted-average vesting period was 1.4 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, 2023, 2022 and 2021:


	Year Ended December 31,
	2023		2022		2021
Expected term (years)	3.0		3.0		3.0
Expected volatility	56.8	%	40.6	%	57.1	%
Expected annual dividend	0.0	%	0.0	%	0.0	%
Risk free rate	4.4	%	1.8	%	0.2	%

Employee Stock Purchase Plan

The Company's Board of Directors 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 172,641, 69,854 and 74,950 shares during the years ended December 31, 2023, 2022 and 2021, respectively. As of December 31, 2023, there were

1,502,480 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, 2023, 2022 and 2021:


	Year Ended December 31,
	2023		2022		2021
Expected term (years)	0.5		0.5		0.5
Expected volatility	58.0	%	12.0	%	28.0	%
Expected annual dividend	12.2	%	6.1	%	5.5	%
Risk free rate	5.4	%	2.5	%	0.1	%

For the years ended December 31, 2023, 2022 and 2021, we recognized $12.5 million, $12.8 million and $13.8 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 (Loss) Income.

Leases - Summary of Amounts Reported in Consolidated Balance Sheets for Leases (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Operating leases
Operating lease right-of-use assets, net	$ 125,105	$ 88,545
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Operating lease right-of-use assets, net	Operating lease right-of-use assets, net
Lease liability	$ 84,404	$ 66,356
Operating Lease, Liability, Statement of Financial Position [Extensible List]	Lease liability	Lease liability
Finance leases
ROU asset, gross	$ 52,589	$ 73,487
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Property, plant and equipment, net	Property, plant and equipment, net
Lease liability	$ 18,110	$ 15,520
Finance Lease, Liability, Statement of Financial Position [Extensible List]	Finance Lease Liability Excluding Finance Lease Obligations In Held For Sale	Finance Lease Liability Excluding Finance Lease Obligations In Held For Sale
Weighted-average remaining lease term
Operating leases	13 years 4 months 24 days	10 years 1 month 6 days
Finance leases	8 years 8 months 12 days	11 years 6 months
Weighted-average discount rate
Operating leases	10.30%	8.60%
Finance leases	9.90%	10.10%

Schedule I - Condensed Financial Information of The Registrant (Parent Company) - Condensed Statements of Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2023	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Costs and Expenses:
Interest expense, net			$ 512,349	$ 376,832	$ 446,296
General and administrative expense			102,732	100,992	101,176
Total costs and expenses			1,302,716	1,156,705	982,795
(Loss) earnings from consolidated subsidiaries			2,662	2,371	2,102
Income tax benefit	$ (56,130)	$ (62,899)	(68,474)	(17,365)	(4,916)
Net (loss) income attributable to shareholders	(118,843)	(112,419)	(81,713)	(8,275)	123,660
Comprehensive (loss) income attributable to shareholders	$ (118,843)	$ (112,419)	(81,713)	889	134,863
Uniti Group Inc.
Costs and Expenses:
Interest expense, net			24,625	0	0
General and administrative expense			56	(17)	(58)
Transaction related costs			9	57	18
Total costs and expenses			24,690	40	(40)
Operating (loss) income			(24,690)	(40)	40
(Loss) earnings from consolidated subsidiaries			(57,816)	2,178	124,810
(Loss) income before income taxes			(82,506)	2,138	124,850
Income tax benefit			(793)	10,413	1,190
Net (loss) income attributable to shareholders			(81,713)	(8,275)	123,660
Comprehensive (loss) income attributable to shareholders			$ (81,713)	$ 889	$ 134,863

Assets and Liabilities Held for Sale

12 Months Ended

Dec. 31, 2023

Discontinued Operations and Disposal Groups [Abstract]

Assets and Liabilities Held for Sale

In 2018, we acquired certain fiber assets from CableSouth Media, LLC (“CableSouth”) and leased back certain of those acquired assets to CableSouth pursuant to a triple-net lease.

During the fourth quarter of 2023, the Company entered into an agreement with a fund managed by Macquarie Asset Management ("MAM") pursuant to which MAM would make a structured equity investment into CableSouth in order to assist CableSouth in the acquisition of all of our previously acquired CableSouth fiber assets and the buyout of their triple-net lease for cash consideration of $40 million (the "Transaction"). The Transaction closed on January 31, 2024. See Note 24.

The following table presents the assets and liabilities, associated with the Transaction, which were classified as held for sale as of December 31, 2023:


(Thousands)	December 31, 2023
Assets:
Property, plant and equipment, net	$	25,842
Straight-line revenue receivable	2,763
Total Assets	$	28,605

Liabilities:
Accounts payable, accrued expenses and other liabilities, net	$	67
Deferred revenue	264
Total Liabilities	$	331

The assets and liabilities associated with the Transaction are included in the results of the Uniti Leasing segment. The sale does not represent a strategic shift that will have a major effect on operations and financial results and, therefore, did not qualify for presentation as a discontinued operation.

Goodwill and Intangible Assets - Schedule of Carrying Value of Other Intangible Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Schedule Of Indefinite And Finite Lived Intangible Assets And Liabilities [Line Items]
Total intangible assets	$ 479,137	$ 479,137
Accumulated Amortization	(174,022)	(144,291)
Total intangible assets, net	305,115	334,846
Less: accumulated amortization	(34,757)	(24,062)
Total intangible liabilities, net	156,397	167,092
Customer lists
Schedule Of Indefinite And Finite Lived Intangible Assets And Liabilities [Line Items]
Cost	416,104	416,104
Accumulated Amortization	(151,542)	(128,728)
Contracts
Schedule Of Indefinite And Finite Lived Intangible Assets And Liabilities [Line Items]
Cost	52,536	52,536
Accumulated Amortization	(21,343)	(14,776)
Underlying rights
Schedule Of Indefinite And Finite Lived Intangible Assets And Liabilities [Line Items]
Cost	10,497	10,497
Accumulated Amortization	(1,137)	(787)
Acquired below-market leases
Schedule Of Indefinite And Finite Lived Intangible Assets And Liabilities [Line Items]
Total intangible liabilities	191,154	191,154
Less: accumulated amortization	$ (34,757)	$ (24,062)

Revenues (Tables)

12 Months Ended

Dec. 31, 2023

Revenue from Contract with Customer [Abstract]

Revenues Disaggregated by Revenue Stream

The following table presents our revenues disaggregated by revenue stream.


	Year Ended December 31,
(Thousands)	2023		2022		2021
Revenue disaggregated by revenue stream
Revenue from contracts with customers
Uniti Fiber
Lit backhaul	$	74,538	$	78,977	$	86,915
Enterprise and wholesale	97,834		85,820		86,390
E-Rate and government	55,682		64,219		74,396
Other	3,102		2,827		3,272
Uniti Fiber	$	231,156	$	231,843	$	250,973
Uniti Leasing	6,847		4,590		4,449
Total revenue from contracts with customers	238,003		236,433		255,422
Revenue accounted for under leasing guidance
Uniti Leasing	845,925		822,867		797,048
Uniti Fiber	65,903		69,547		48,052
Total revenue accounted for under leasing guidance	911,828		892,414		845,100
Total revenue	$	1,149,831	$	1,128,847	$	1,100,522

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, 2022	$	173	$	8,699
Balance at December 31, 2023	$	26	$	11,109

Consolidated Statements of Comprehensive (Loss) Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement of Comprehensive Income [Abstract]
Net (loss) income	$ (81,749)	$ (8,122)	$ 124,745
Other comprehensive income:
Interest rate swap termination	0	9,243	11,317
Other comprehensive income	0	9,243	11,317
Comprehensive (loss) income	(81,749)	1,121	136,062
Comprehensive (loss) income attributable to noncontrolling interest	(36)	232	1,199
Comprehensive (loss) income attributable to shareholders	$ (81,713)	$ 889	$ 134,863

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income (loss) and other comprehensive income (loss), attributable to noncontrolling interests. Excludes changes in equity resulting from investments by owners and distributions to owners.

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Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income. Excludes changes in equity resulting from investments by owners and distributions to owners.

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Amount after tax and reclassification adjustments of other comprehensive income (loss).

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+ Details

Consolidated Statements of (Loss) Income - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Revenues:
Total revenue from rentals	$ 911,828	$ 892,414	$ 845,100
Total service revenues	238,003	236,433	255,422
Total revenues	1,149,831	1,128,847	1,100,522
Costs and Expenses:
Interest expense, net	512,349	376,832	446,296
Depreciation and amortization	310,528	292,788	290,942
General and administrative expense	102,732	100,992	101,176
Operating expense (exclusive of depreciation, accretion and amortization)	144,276	143,131	146,869
Goodwill impairment (Note 3)	203,998	240,500	0
Transaction related and other costs	12,611	10,340	7,544
Gain on sale of real estate	(2,164)	(433)	(442)
Gain on sale of operations	0	(176)	(28,143)
Other expense (income), net	18,386	(7,269)	18,553
Total costs and expenses	1,302,716	1,156,705	982,795
(Loss) income before income taxes and equity in earnings from unconsolidated entities	(152,885)	(27,858)	117,727
Income tax benefit	(68,474)	(17,365)	(4,916)
Equity in earnings from unconsolidated entities	(2,662)	(2,371)	(2,102)
Net (loss) income	(81,749)	(8,122)	124,745
Net (loss) income attributable to noncontrolling interests	(36)	153	1,085
Net (loss) income attributable to shareholders	(81,713)	(8,275)	123,660
Participating securities' share in earnings	(1,207)	(1,135)	(1,077)
Dividends declared on convertible preferred stock	(20)	(20)	(10)
Net (loss) income attributable to common shares	$ (82,940)	$ (9,430)	$ 122,573
(Loss) earnings per common share (Note 15)
Basic (in dollars per share)	$ (0.35)	$ (0.04)	$ 0.53
Diluted (in dollars per share)	$ (0.35)	$ (0.04)	$ 0.51
Weighted-average number of common shares outstanding
Basic (in shares)	236,401	235,567	232,888
Diluted (in shares)	236,401	235,567	264,077
Uniti Leasing
Revenues:
Total revenue from rentals	$ 845,925	$ 822,867	$ 797,048
Total service revenues	6,847	4,590	4,449
Uniti Fiber
Revenues:
Total revenue from rentals	65,903	69,547	48,052
Total service revenues	$ 231,156	$ 231,843	$ 250,973

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

Income Tax Disclosure [Abstract]

Schedule of Income Tax Expense (Benefit)

Income tax expense (benefit) for the years ended December 31, 2023, 2022 and 2021 as reported in the accompanying Consolidated Statements of (Loss) Income was comprised of the following:


	Year Ended December 31,
(Thousands)	2023		2022		2021
Current
Federal	$	(753)	$	8,782	$	(71)
State	776		2,762		1,622
Total current expense	23		11,544		1,551

Deferred
Federal	(53,188)		(22,804)		(5,066)
State	(15,309)		(6,105)		(1,401)
Total deferred benefit	(68,497)		(28,909)		(6,467)
Total income tax benefit	$	(68,474)	$	(17,365)	$	(4,916)

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)	2023		2022		2021
Income (loss) from continuing operations, before tax	$	(150,223)	$	(25,487)	$	119,844
Income tax expense (benefit) at U.S. statutory federal rate	(31,547)		(5,352)		25,167
Increases (decreases) resulting from:
State taxes, net of federal benefit	(11,219)		(2,255)		288
Benefit of REIT status	(24,796)		(46,604)		(30,565)
Impairment of nondeductible goodwill	—		36,895		—
Return to accrual	(1,298)		(44)		193
Permanent differences	386		(5)		1
Income tax benefit	$	(68,474)	$	(17,365)	$	(4,916)

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, 2023		December 31, 2022
Deferred tax assets:
Deferred revenue	$	31,123	$	30,616
Stock-based compensation	629		528
Asset retirement obligation	1,511		2,213
Inventory reserve	133		140
Excess business interest expense	24,090		14,037
Lease asset liability	12,715		14,325
Settlement obligation	605		680
Debt discount and interest expense	841		2,593
Other intangible amortization	27,494		—
Other	4,560		3,035
Net operating loss carryforwards	156,482		143,733
Deferred tax assets	$	260,183	$	211,900

Deferred tax liabilities:
Property, plant and equipment	$	(97,459)	$	(94,889)
Customer list intangible	(37,159)		(39,125)
Other intangible amortization	—		(18,320)
Right of use asset	(12,489)		(15,384)
Deferred or prepaid costs	(3,792)		(3,533)
Other	(156)		(18)
Deferred tax liabilities	$	(151,055)	$	(171,269)

Deferred tax asset, net	$	109,128	$	40,631

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)	2023		2022
Balance at January 1	$	1,734	$	1,734
Balance at December 31	$	1,734	$	1,734

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Assets:
Property, plant and equipment, net	$ 3,982,069	$ 3,754,547
Cash and cash equivalents	62,264	43,803
Accounts receivable, net	46,358	42,631
Goodwill	157,380	361,378
Intangible assets, net	305,115	334,846
Straight-line revenue receivable	90,988	68,595
Operating lease right-of-use assets, net	125,105	88,545
Other assets, net	118,117	77,597
Investments in unconsolidated entities	0	38,656
Deferred income tax assets, net	109,128	40,631
Assets held for sale	28,605	0
Total Assets	5,025,129	4,851,229
Liabilities:
Accounts payable, accrued expenses and other liabilities, net	119,340	122,195
Settlement payable (Note 3)	163,583	251,098
Intangible liabilities, net	156,397	167,092
Accrued interest payable	133,683	121,316
Deferred revenue	1,273,661	1,190,041
Dividends payable	36,162	2
Operating lease liabilities	84,404	66,356
Finance lease obligations	18,110	15,520
Notes and other debt, net	5,523,579	5,188,815
Liabilities held for sale	331	0
Total liabilities	7,509,250	7,122,435
Commitments and contingencies (Note 17)
Shareholders' Deficit:
Preferred stock, $0.0001 par value, 50,000 shares authorized, no shares issued and outstanding	$ 0	$ 0
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common Stock, Value, Issued	$ 24	$ 24
Additional paid-in capital	1,221,824	1,210,033
Distributions in excess of accumulated earnings	(3,708,240)	(3,483,634)
Total Uniti shareholders' deficit	(2,486,392)	(2,273,577)
Noncontrolling interests:
Operating partnership units	2,021	2,121
Cumulative non-voting convertible preferred stock, $0.01 par value, 6 shares authorized, 3 issued and outstanding	250	250
Total shareholders' deficit	(2,484,121)	(2,271,206)
Total Liabilities and Shareholders' Deficit	$ 5,025,129	$ 4,851,229

Revenues

12 Months Ended

Dec. 31, 2023

Revenue from Contract with Customer [Abstract]

Revenues

Disaggregation of Revenue

The following table presents our revenues disaggregated by revenue stream.


	Year Ended December 31,
(Thousands)	2023		2022		2021
Revenue disaggregated by revenue stream
Revenue from contracts with customers
Uniti Fiber
Lit backhaul	$	74,538	$	78,977	$	86,915
Enterprise and wholesale	97,834		85,820		86,390
E-Rate and government	55,682		64,219		74,396
Other	3,102		2,827		3,272
Uniti Fiber	$	231,156	$	231,843	$	250,973
Uniti Leasing	6,847		4,590		4,449
Total revenue from contracts with customers	238,003		236,433		255,422
Revenue accounted for under leasing guidance
Uniti Leasing	845,925		822,867		797,048
Uniti Fiber	65,903		69,547		48,052
Total revenue accounted for under leasing guidance	911,828		892,414		845,100
Total revenue	$	1,149,831	$	1,128,847	$	1,100,522

At December 31, 2023 and 2022, lease receivables were $22.0 million and $26.2 million, respectively, and receivables from contracts with customers were $18.8 million and $16.1 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. Contract assets are reported within accounts receivables, net on our Consolidated Balance Sheets. 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, 2023, 2022, and 2021, we recognized revenues of $4.1 million, $6.4 million, and $13.2 million, respectively that was included in the December 31, 2022, December 31, 2021, and December 31, 2020 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, 2022	$	173	$	8,699
Balance at December 31, 2023	$	26	$	11,109

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 liabilities primarily relate to deferred revenue from upfront customer payments. The

deferred revenue is recognized, and the liability reduced, over the contract term as the Company completes the performance obligation. As of December 31, 2023, our future revenues (i.e. transaction price related to remaining performance obligations) under contracts accounted for under ASC 606 totaled $645.0 million, of which $589.0 million is related to contracts that are currently being invoiced and have an average remaining contract term of 3.3 years, while $56.0 million represents our backlog for sales bookings which have yet to be installed and have an average remaining contract term of 5.2 years. We do not disclose the value of unsatisfied performance obligations for contracts that have an original expected duration of one year or less.

- Definition

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.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
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-URI https://asc.fasb.org//1943274/2147479806/606-10-50-9

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
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-Publisher FASB
-URI https://asc.fasb.org//606/tableOfContent

+ Details

Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

Changes in the carrying amount of goodwill occurring during the year ended December 31, 2023 and 2022, are as follows:


(Thousands)	Uniti Fiber		Total
Goodwill at December 31, 2021	$	672,878	$	672,878
Accumulated impairment charges as of December 31, 2021	(71,000)		(71,000)
Balance at December 31, 2021	601,878		601,878
Impairment charges	(240,500)		(240,500)
Balance as of December 31, 2022	361,378		361,378
Impairment charges (Note 3)	(203,998)		(203,998)
Balance at December 31, 2023	$	157,380	$	157,380

Goodwill at December 31, 2023	$	672,878	$	672,878
Accumulated impairment charges as of December 31, 2023	(515,498)		(515,498)
Balance at December 31, 2023	$	157,380	$	157,380

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


(Thousands)	December 31, 2023				December 31, 2022
	Cost		Accumulated Amortization		Cost		Accumulated Amortization
Finite life intangible assets:
Customer lists	$	416,104	$	(151,542)	$	416,104	$	(128,728)
Contracts	52,536		(21,343)		52,536		(14,776)
Underlying rights	10,497		(1,137)		10,497		(787)

Total intangible assets	$	479,137			$	479,137
Less: accumulated amortization	(174,022)				(144,291)
Total intangible assets, net	$	305,115			$	334,846

Finite life intangible liabilities:
Acquired below-market leases	$	191,154	$	(34,757)	$	191,154	$	(24,062)

Total intangible liabilities	191,154				191,154
Less: accumulated amortization	(34,757)				(24,062)
Total intangible liabilities, net	$	156,397			$	167,092

As of December 31, 2023, the remaining weighted average amortization period of the Company’s intangible assets was 13.4 years.

Amortization expense for the years ended December 31, 2023, 2022 and 2021 was $29.7 million, $29.8 million and $29.8 million, respectively. Amortization expense is estimated to be $29.7 million in 2024, $29.7 million in 2025, $29.7 million in 2026, $29.7 million in 2027 and $28.1 million in 2028.

We recognize the amortization of below-market leases in revenue in arrangements where we are the lessor. Revenue related to the amortization of the below-market leases for the years ended December 31, 2023, 2022 and 2021 was $10.7 million, $10.7 million, and $10.7 million respectively. As of December 31, 2023, the remaining weighted average amortization period of the Company’s intangible liabilities was 16.1 years. Revenue due to the amortization of the below-market leases is estimated to be $10.7 million in 2024, $10.7 million in 2025, $10.7 million in 2026, $10.7 million in 2027, and $10.2 million in 2028.

Revenues - Revenues Disaggregated by Revenue Stream (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disaggregation Of Revenue [Line Items]
Revenue from contracts with customers	$ 238,003	$ 236,433	$ 255,422
Revenue accounted for under leasing guidance	911,828	892,414	845,100
Total revenues	1,149,831	1,128,847	1,100,522
Uniti Fiber
Disaggregation Of Revenue [Line Items]
Revenue from contracts with customers	231,156	231,843	250,973
Revenue accounted for under leasing guidance	65,903	69,547	48,052
Uniti Fiber \| Lit backhaul
Disaggregation Of Revenue [Line Items]
Revenue from contracts with customers	74,538	78,977	86,915
Uniti Fiber \| Enterprise and wholesale
Disaggregation Of Revenue [Line Items]
Revenue from contracts with customers	97,834	85,820	86,390
Uniti Fiber \| E-Rate and government
Disaggregation Of Revenue [Line Items]
Revenue from contracts with customers	55,682	64,219	74,396
Uniti Fiber \| Other
Disaggregation Of Revenue [Line Items]
Revenue from contracts with customers	3,102	2,827	3,272
Uniti Leasing
Disaggregation Of Revenue [Line Items]
Revenue from contracts with customers	6,847	4,590	4,449
Revenue accounted for under leasing guidance	$ 845,925	$ 822,867	$ 797,048

Capital Stock - Additional Information (Details) $ in Millions	12 Months Ended
	Dec. 31, 2023 shares	Dec. 31, 2022 USD ($) shares
Schedule Of Capitalization Equity [Line Items]
Conversion of stock, ratio	1
Number of shares converted		591,349
Percentage of units exchanged held by third parties		85.00%
Common stock, shares authorized (in shares)	500,000,000	500,000,000
Preferred stock, shares authorized (in shares)	50,000,000	50,000,000
Common stock, shares outstanding (in shares)	236,558,601	235,829,000
Preferred stock, shares outstanding (in shares)	0	0
Shares available for future issuance (in shares)	263,441,399
Noncontrolling Interest - OP Units
Schedule Of Capitalization Equity [Line Items]
Conversion of stock, amount converted \| $		$ 11.9
Common Share Exchange
Schedule Of Capitalization Equity [Line Items]
Number of shares converted		244,683
Cash Share Exchange
Schedule Of Capitalization Equity [Line Items]
Number of shares converted		346,667
Cash Share Exchange \| Noncontrolling Interest - OP Units
Schedule Of Capitalization Equity [Line Items]
Conversion of stock, amount converted \| $		$ 4.6

Segment Information - Schedule of Segment Reporting Information (Details) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended	12 Months Ended
	Sep. 30, 2023	Dec. 31, 2022	Sep. 30, 2022	Sep. 30, 2023	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Segment Reporting Information [Line Items]
Revenues					$ 1,149,831	$ 1,128,847	$ 1,100,522
Adjusted EBITDA					923,502	905,896	878,281
Interest expense, net					512,349	376,832	446,296
Depreciation and amortization					310,528	292,788	290,942
Other, net					20,893	(4,790)	24,917
Transaction related and other costs					12,611	10,340	7,544
Gain on sale of operations					0	(176)	(28,143)
Gain on sale of real estate					(2,164)	(433)	(442)
Goodwill impairment	$ 203,998			$ 203,998	203,998	240,500	0
Stock-based compensation					12,491	12,751	13,847
Income tax benefit	(56,130)			(62,899)	(68,474)	(17,365)	(4,916)
Adjustments for equity in earnings from unconsolidated entities					3,019	3,571	3,491
Net (loss) income	$ (118,896)			$ (112,469)	(81,749)	(8,122)	124,745
Capital expenditures					417,002	427,567	385,855
Corporate
Segment Reporting Information [Line Items]
Adjusted EBITDA					(21,778)	(25,492)	(24,232)
Depreciation and amortization					56	115	255
Capital expenditures					0	336	141
Uniti Leasing \| Operating Segments
Segment Reporting Information [Line Items]
Revenues					852,772	827,457	801,497
Adjusted EBITDA					829,557	806,027	784,061
Depreciation and amortization					178,872	172,007	174,622
Capital expenditures					277,235	263,269	223,251
Uniti Fiber
Segment Reporting Information [Line Items]
Goodwill impairment		$ 24,500	$ 216,000
Uniti Fiber \| Operating Segments
Segment Reporting Information [Line Items]
Revenues					297,059	301,390	299,025
Adjusted EBITDA					115,723	125,361	118,452
Depreciation and amortization					131,600	120,666	116,065
Capital expenditures					$ 139,767	$ 163,962	$ 162,463

Cover Page - USD ($)	12 Months Ended
Cover Page - USD ($)	Dec. 31, 2023	Feb. 22, 2024	Jun. 30, 2023
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Current Fiscal Year End Date	--12-31
Document Period End Date	Dec. 31, 2023
Document Transition Report	false
Entity File Number	001-36708
Entity Registrant Name	Uniti Group Inc.
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	46-5230630
Entity Address, Address Line One	2101 Riverfront Drive
Entity Address, Address Line Two	Suite A
Entity Address, City or Town	Little Rock
Entity Address, State or Province	AR
Entity Address, Postal Zip Code	72202
City Area Code	501
Local Phone Number	850-0820
Title of each class	Common Stock, $0.0001 Par Value
Trading Symbol	UNIT
Name of each exchange on which registered	NASDAQ
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction [Flag]	false
Entity Shell Company	false
Entity Public Float			$ 1,089,222,999
Entity Common Stock, Shares Outstanding		238,751,855
Documents Incorporated by Reference	Portions of the Registrant’s definitive proxy statement relating to the 2024 annual meeting of stockholders are incorporated by reference into Part III of this Annual Report on Form 10-K.
Entity Central Index Key	0001620280
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Amendment Flag	false

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. 23, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 30, 2022
Shares
Nonvested, beginning balance (in shares)		847,146
Granted (in shares)	449,614	449,614	425,010	216,085
Forfeited (in shares)		0
Vested (in shares)		(243,572)
Nonvested, ending balance (in shares)		1,053,188	847,146
Weighted Average Fair Value at Grant Date
Unvested balance (in dollars per share)		$ 15.07
Grant (in dollars per share)		8.22	$ 14.42	$ 16.27
Forfeited (in dollars per share)		0
Vested (in dollars per share)		15.46
Unvested balance (in dollars per share)		$ 12.06	$ 15.07
Aggregate Intrinsic Value
Unvested balance		$ 6,087
Aggregate intrinsic value (in dollars per share)					$ 5.78

Summary of Significant Accounting Policies - Exchangeable Notes (Details) - USD ($) $ / shares in Units, $ in Thousands, shares in Millions	Mar. 21, 2023	Dec. 12, 2022	Dec. 07, 2022	Jun. 28, 2019	Dec. 31, 2023	Dec. 31, 2022	Jun. 25, 2019
Summary Of Significant Accounting Policies [Line Items]
Principal amount					$ 5,617,442	$ 5,262,373
Common stock aggregate at an exercise price (in dollars per share)				$ 16.42
Proceeds from termination of bond hedge option			$ 1,200
Counterparties
Summary Of Significant Accounting Policies [Line Items]
Proceeds from termination of bond hedge option			$ 500
Maximum \| Warrants
Summary Of Significant Accounting Policies [Line Items]
Anti-dilution adjustments (in shares)				27.8
Exchangeable Notes
Summary Of Significant Accounting Policies [Line Items]
Principal amount	$ 15,000			$ 345,000
Issuance senior notes, stated percentage				4.00%			4.00%
Repayments of long-term debt	$ 13,700
Convertible Senior Notes 2027
Summary Of Significant Accounting Policies [Line Items]
Principal amount					$ 306,500
Convertible Senior Notes 2027 \| Convertible Debt
Summary Of Significant Accounting Policies [Line Items]
Issuance senior notes, stated percentage					7.50%
Extinguishment of debt, amount		$ 207,100
Repayments of long-term debt		$ 194,000

Revenues - Schedule of Contract Assets and Contract Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Contract with Customer, Contract Asset, Contract Liability, and Receivable [Abstract]
Contract Assets	$ 26	$ 173
Contract Liabilities	$ 11,109	$ 8,699

Business Combinations, Asset Acquisitions and Dispositions (Tables)

12 Months Ended

Dec. 31, 2023

Business Combinations [Abstract]

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

The following table presents the assets and liabilities, associated with the Transaction, which were classified as held for sale as of December 31, 2023:


(Thousands)	December 31, 2023
Assets:
Property, plant and equipment, net	$	25,842
Straight-line revenue receivable	2,763
Total Assets	$	28,605

Liabilities:
Accounts payable, accrued expenses and other liabilities, net	$	67
Deferred revenue	264
Total Liabilities	$	331

- Definition

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.

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+ Details

Leases - Future Sublease Rentals (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Lessor Lease Description [Line Items]
2024	$ 806,483
2025	816,771
2026	818,196
2027	819,134
2028	819,813
Thereafter	1,556,217
Total lease receivables	5,636,614
Sublease Rentals
Lessor Lease Description [Line Items]
2024	10,837
2025	10,961
2026	11,082
2027	11,166
2028	11,002
Thereafter	128,810
Total lease receivables	$ 183,858

Property, Plant and Equipment - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 280.8	$ 263.0	$ 261.2

Capital Stock

12 Months Ended

Dec. 31, 2023

Equity [Abstract]

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, 2023, the company exchanged no OP Units held by third parties. During the year ended December 31, 2022, the Company exchanged 591,349 OP Units held by third parties, of which 244,683 OP Units were exchanged for an equal number of common shares of the Company and 346,667 OP Units were exchanged for cash consideration of $4.6 million, representing approximately 85% of the OP Units held by third parties with a carrying value of $11.9 million as of the exchange dates.

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 236,558,601 and 0 shares, respectively, were outstanding at December 31, 2023. We had 263,441,399 shares of voting common stock available for issuance at December 31, 2023.

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, 2023, 2022, and 2021, our common stock distribution per share was $0.45, $0.75 and $0.45, respectively, characterized as follows:


	Year Ended December 31,
	2023		2022		2021
Ordinary dividends	$	0.45	$	0.75	$	0.45
Capital gain distribution	$	—	$	—	$	—
Total	$	0.45	$	0.75	$	0.45

- Definition

The entire disclosure for equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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Reference 18: http://www.xbrl.org/2003/role/disclosureRef
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Reference 19: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Subsequent Events (Details) - USD ($) $ in Millions	Feb. 23, 2024	Jan. 31, 2024	Dec. 31, 2023
Macquarie Asset Management \| Disposal Group, Held for Sale, Not qualified as Discontinued Operation \| CableSouth Transaction
Subsequent Event [Line Items]
Cash consideration			$ 40
Subsequent Event
Subsequent Event [Line Items]
Debt instrument, months following closing date	15 months
Subsequent Event \| Macquarie Asset Management \| Disposal Group, Held for Sale, Not qualified as Discontinued Operation \| CableSouth Transaction
Subsequent Event [Line Items]
Cash consideration		$ 40
Subsequent Event \| ABS Credit Agreement \| Line of Credit \| Variable Rate Component One
Subsequent Event [Line Items]
Debt instrument, basis spread on variable rate	2.75%
Subsequent Event \| ABS Credit Agreement \| Line of Credit \| Variable Rate Component One \| Secured Overnight Financing Rate (SOFR)
Subsequent Event [Line Items]
Debt instrument, basis spread on variable rate	3.75%
Subsequent Event \| ABS Credit Agreement \| Line of Credit \| Variable Rate Component Two
Subsequent Event [Line Items]
Debt instrument, basis spread on variable rate	3.50%
Subsequent Event \| ABS Credit Agreement \| Line of Credit \| Variable Rate Component Two \| Secured Overnight Financing Rate (SOFR)
Subsequent Event [Line Items]
Debt instrument, basis spread on variable rate	4.50%
Subsequent Event \| ABS Credit Agreement \| Line of Credit \| Variable Rate Component Three
Subsequent Event [Line Items]
Debt instrument, basis spread on variable rate	4.25%
Subsequent Event \| ABS Credit Agreement \| Line of Credit \| Variable Rate Component Three \| Secured Overnight Financing Rate (SOFR)
Subsequent Event [Line Items]
Debt instrument, basis spread on variable rate	5.25%
Subsequent Event \| ABS Credit Agreement \| Line of Credit \| Revolving Credit Facility
Subsequent Event [Line Items]
Line of credit facility, maximum borrowing capacity	$ 350
Debt instrument, term	18 months

Segment Information - Additional Information (Details) - segment	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2020
Segment Reporting [Abstract]
Number of reportable business segments	2
Number of operating business segments	2	2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
Summary of Significant Accounting Policies (Policies)	Dec. 31, 2023
Accounting Policies [Abstract]
Consolidation	The accompanying Consolidated Financial Statements include all accounts of the Company and, its wholly-owned and/or controlled subsidiaries, including the Operating Partnership. Under the Accounting Standards Codification 810, Consolidation (“ASC 810”), the Operating Partnership is considered a variable interest entity and is consolidated in the Consolidated Financial Statements of Uniti Group Inc. because the Company is the primary beneficiary. All material intercompany balances and transactions have been eliminated. ASC 810 provides guidance on the identification of entities for which control is achieved through means other than voting rights (“variable interest entities” or “VIEs”) and the determination of which business enterprise, if any, should consolidate the VIEs. Generally, the consideration of whether an entity is a VIE applies when either: (1) the equity investors (if any) lack (i) the ability to make decisions about the entity’s activities through voting or similar rights, (ii) the obligation to absorb the expected losses of the entity, or (iii) the right to receive the expected residual returns of the entity; (2) the equity investment at risk is insufficient to finance that entity’s activities without additional subordinated financial support; or (3) the equity investors have voting rights that are not proportionate to their economic interests and substantially all of the activities of the entity involve or are conducted on behalf of an investor with a disproportionately small voting interest. The Company consolidates VIEs in which it is considered to be the primary beneficiary. The primary beneficiary is defined as the entity having both of the following characteristics: (1) the power to direct the activities that, when taken together, most significantly impact the VIE’s performance; and (2) the obligation to absorb losses and right to receive the returns from the VIE that would be significant to the VIE.
Basis of Presentation	The accompanying Consolidated Financial Statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for financial information set forth in the Accounting Standards Codification (“ASC”), as published by the Financial Accounting Standards Board (“FASB”), and with the applicable rules and regulations of the Securities and Exchange Commission (“SEC”).
Use of Estimates	Use of Estimates—The preparation of financial statements, in accordance with GAAP, requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses and disclosure of contingent assets and liabilities. The estimates and assumptions used in the accompanying financial statements are based upon management’s evaluation of the relevant facts and circumstances as of the date of the financial statements. Actual results may differ from the estimates and assumptions used in preparing the accompanying financial statements, and such differences could be material. Liquidity—We anticipate continuing to invest in our network infrastructure across our Uniti Leasing and Uniti Fiber portfolios. We also anticipate declaring dividends for the 2024 tax year to comply with our REIT distribution requirements. We anticipate these expenditures will be met, as well as operating expenses (including our debt service obligations), in the near term from our cash on hand, borrowings under our Revolving Credit Facility and the new $350 million ABS Loan Facility we entered into in February 2024 and cash flows provided by operating activities. Our 2023 capital expenditures of $417.0 million and dividend payments of $107.4 million exceeded our 2023 cash flow from operating activities of $353.1 million, which led us to seek additional external sources of capital. We will closely monitor the equity and debt markets and may seek to access those markets when we deem conditions are appropriate. The amount, nature and timing of any capital markets transactions will depend on our operating performance, capital requirements, and the availability of those capital markets, all of which are subject to uncertainties.
Property, Plant and Equipment	Property, Plant and Equipment—Property, plant and equipment is stated at original cost, net of accumulated depreciation. The Company capitalizes costs incurred in bringing property, plant and equipment to an operational state, including all activities directly associated with the acquisition, construction, and installation of the related assets it owns. The Company capitalizes a portion of the interest costs it incurs for assets that require a period of time to get them ready for their intended use. The amount of interest that is capitalized is based on the average accumulated expenditures made during the period involved in bringing the assets comprising a network to an operational state at the Company’s weighted average interest rate during the respective accounting period. The Company also enters into leasing arrangements providing for the long‑term use of constructed fiber that is then integrated into the Company’s network infrastructure. For each lease that qualifies as a finance lease, the present value of the lease payments, which may include both periodic lease payments over the term of the lease as well as upfront payments to the lessor, is capitalized at the inception of the lease and included in property and equipment. As of December 31, 2023 and 2022, the accumulated amortization of our finance lease assets was $20.4 million and $22.2 million, respectively. On April 24, 2015, we were separated and spun-off (the “Spin-Off”) from Windstream Holdings, Inc. (“Windstream Holdings” and together with Windstream Holdings II, LLC, its successor in interest, and its subsidiaries, “Windstream”) pursuant to which Windstream contributed certain telecommunications network assets, including fiber and copper networks and other real estate (the “Distribution Systems”) to Uniti. Certain property, plant and equipment acquired as part of our Spin-Off is depreciated using a group composite depreciation method. Under this method, when property is retired, the original cost, net of salvage value, is charged against accumulated depreciation and no immediate gain or loss is recognized on the disposition of the property. For all other property, which includes amortization of finance lease assets, depreciation is computed using the straight-line method over the estimated useful life of the respective property. When the property is retired or otherwise disposed of, the related cost and accumulated depreciation are written-off, with the corresponding gain or loss reflected in operating results. Construction in progress includes direct materials and labor related to fixed assets during the construction period. Depreciation begins once the construction period has ceased and the related asset is placed into service, and the asset will be depreciated over its useful life. Costs of maintenance and repairs to property, plant and equipment subject to triple-net leasing arrangements are the responsibility of our tenant. Costs of maintenance and repairs to property, plant and equipment not subject to triple-net leasing arrangements are expensed as incurred.
Tenant Capital Improvements	Tenant Capital Improvements—The leases with Windstream (as discussed below) provide that tenant funded capital improvements (“TCIs”), defined as maintenance, repair, overbuild, upgrade or replacements to the leased network, 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 the TCIs as they automatically become our property, and we recognize the cost basis of TCIs that are capital in nature as property, plant and equipment and deferred revenue. We depreciate the property, plant and equipment over their estimated useful lives and amortize the deferred revenue as additional leasing revenues over the same depreciable life of the TCI assets.
Impairment of Long-Lived Assets	Impairment of Long-Lived Assets—We review long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of the asset group may not be recoverable from future undiscounted net cash flows we expect the asset group to generate. If the asset group is not fully recoverable, an impairment loss would be recognized for the difference between the carrying value of the asset group and its estimated fair value based on discounted net future cash flows. Assets held for sale, if any, are reported at the lower of the carrying amount or fair value less cost to sell. Assets held for sale are no longer depreciated once held for sale criteria are met. During the years ended December 31, 2023, 2022 and 2021, there were no events or changes in circumstances indicating that the carrying amount of any of our assets groups was not recoverable from future undiscounted net cash flows we expect the asset groups to generate, and no impairment losses were recognized.
Asset Retirement Obligations	Asset Retirement Obligations—The Company records obligations to perform asset retirement activities, primarily including requirements to remove equipment from leased space or customer sites as required under the terms of the related lease and customer agreements. The fair value of the liability for asset retirement obligations, which represents the net present value of the estimated expected future cash outlay, is recognized in the period in which it is incurred and the fair value of the liability can reasonably be estimated. The liability accretes as a result of the passage of time and related accretion expense is recognized in the Consolidated Statements of (Loss) Income. The associated asset retirement costs are capitalized as an additional carrying amount of the related long‑lived asset and depreciated on a straight-line basis over the asset’s useful life.
Cash and Cash Equivalents	Cash and Cash Equivalents—Cash and cash equivalents include all non-restricted cash held at financial institutions and other non-restricted highly liquid short-term investments with original maturities of three months or less.
Derivative Instruments and Hedging Activities	Derivative Instruments and Hedging Activities—We account for our derivatives in accordance with FASB ASC 815, Derivatives and Hedging ("ASC 815"), in which we reflect all derivative instruments at fair value as either assets or liabilities on our Consolidated Balance Sheets. For derivative instruments that are designated and qualify as hedging instruments, we record the effective portion of the gain or loss on the hedged instruments as a component of accumulated other comprehensive income or loss. Any ineffective portion of a derivative’s change in fair value is immediately recognized within net income. For derivatives that do not meet the criteria for hedge accounting, changes in fair value are immediately recognized within net income.
Exchangeable Notes and Related Transactions	Exchangeable Notes and Related Transactions—On June 28, 2019, Uniti Fiber Holdings Inc., a subsidiary of the Company, issued $345 million aggregate principal amount of 4.00% Exchangeable Senior Notes due June 15, 2024 (the “Exchangeable 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. In accordance with ASC 470-20, Debt – Debt with Conversion and Other Options ("ASC 470"), because the conversion feature in the Exchangeable Notes is not bifurcated pursuant to ASC 815 and because the conversion can be settled in cash, shares, or a combination thereof, the Exchangeable Notes were separated into a liability component and an equity component in a manner that reflects Uniti Fiber Holdings Inc.’s non-convertible debt borrowing rate. The carrying amount of the liability component was calculated by measuring the fair value of a similar liability that does not have an associated conversion feature. See Note 13. The Company adopted ASU No. 2020-06, Debt - Debt with Conversion and Other Options (Subtopic 470- 20) and Derivatives and Hedging - Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity (“ASU 2020-06”) on January 1, 2021. ASU 2020-06 (1) simplifies the accounting for convertible debt instruments and convertible preferred stock by removing the existing guidance in ASC 470-20 that requires entities to account for beneficial conversion features and cash conversion features in equity, separately from the host convertible debt or preferred stock; (2) revises the scope exception from derivative accounting in ASC 815-40 for freestanding financial instruments and embedded features that are both indexed to the issuer’s own stock and classified in stockholders’ equity, by removing certain criteria required for equity classification; and (3) revises the guidance in ASC 260, Earnings Per Share, to require entities to calculate diluted earnings per share (“EPS”) for convertible instruments by using the if-converted method. In addition, entities must presume share settlement for purposes of calculating diluted EPS when an instrument may be settled in cash or shares. 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. In connection with the offering of the Exchangeable Notes, Uniti Fiber Holdings Inc. entered into exchangeable note hedge transactions with respect to the Company’s common stock (the “Note Hedge Transactions”) with certain of the initial purchasers or their respective affiliates (collectively, the “Counterparties”). In addition, the Company entered into warrant transactions to sell to the Counterparties warrants (the “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 $16.42 per share. The warrant transactions may have a dilutive effect with respect to the Company’s common stock to the extent the market price per share of the Company’s common stock exceeds the strike price of the Warrants. While the Note Hedge Transactions and the Warrants each meet the definition of a derivative in ASC 815-10-15-83, they each meet the equity scope exception specified in ASC 815-10-15-74(a); as such, the Warrants and the Note Hedge Transactions are not accounted for as derivatives that must be remeasured each reporting period and instead, are recorded in stockholders’ deficit. See Note 13. On December 12, 2022, in connection with the issuance of the Convertible 2027 Notes (See Note 13), approximately $207.1 million aggregate principal amount of the Exchangeable Notes was repurchased for $194.0 million. Additionally, on March 21, 2023, the Company repurchased approximately $15.0 million of the Exchangeable Notes for total cash consideration of $13.7 million. On December 7, 2022, in connection with the Company’s repurchase of the Exchangeable Notes, the Company entered into partial unwind agreements (the “Unwind Agreements”) with the Counterparties to unwind a portion of the Note Hedge Transactions and the Warrants described above (collectively, the “Unwind Transactions”). In connection with the Unwind Transactions, the Company received cash as a termination payment for of the portion of the Note Hedge Transactions that were unwound, and the Company delivered cash as a termination payment in respect of the portion of the Warrants that were unwound. The amount of cash that was received, which was approximately $1.2 million, and the amount of cash that was delivered to the Counterparties, which was approximately $0.5 million, were based generally on the termination values of the unwound portions of such instruments. See N o t e 1 1 and Note 13.
Intangible Assets	Intangible Assets—Intangible assets are presented in the financial statements at cost less accumulated amortization and are amortized using the straight-line method over their estimated useful lives.
Transaction Related and Other Costs	Transaction Related and Other Costs—The Company expenses non-capitalizable transaction related and other costs in the period in which they are incurred and services are received. Transaction related costs include acquisition pursuit, transaction and integration costs, including unsuccessful acquisition pursuit costs. Pursuit and transaction costs include professional services (legal, accounting, advisory, regulatory, etc.), finder’s fees, travel expenses, and other direct expenses associated with a business acquisition. Integration costs include direct costs necessary to integrate an acquired business, including professional services, systems and data conversion, severance and retention bonuses payable to employees of an acquired business. In addition, other costs, such as costs incurred as a result of Windstream’s bankruptcy filing, costs associated with Windstream’s claims against us (see Note 17), and costs associated with the implementation of our enterprise resource planning system are included within this line item on the Consolidated Statements of (Loss) Income.
Settlement Expense	Settlement Payable—On July 25, 2019, in connection with Windstream’s bankruptcy, Windstream filed a complaint with the Bankruptcy Court against Uniti and certain of its affiliates, alleging, among other things, that the Master Lease (as defined in Note 5) 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. In connection with Windstream’s emergence from bankruptcy on September 21, 2020, Uniti entered into several agreements and consummated several transactions, including a stock transaction closed on September 18, 2020 in which we issued 38,633,470 shares of Uniti common stock to certain first lien creditors of Windstream and transferred the proceeds to Windstream and an asset transaction closed on September 18, 2020, in which we paid to Windstream approximately $284.6 million in exchange for certain fiber assets and dark fiber dark fiber indefeasible rights of use related thereto, to implement its settlement (the “Settlement”) with Windstream pursuant to 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 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 settlement agreement. The stipulation and order was entered by the bankruptcy court on January 25, 2021. In accordance with the Settlement, we also have a number of ongoing obligations including the following: i.we are obligated to make $490.1 million of cash payments to Windstream in equal installments over 20 consecutive quarters beginning in October 2020, and we may prepay any installments due on or after the first anniversary of the settlement agreement (discounted at a 9% rate). As of December 31, 2023, the Company has made payments totaling $313.4 million; and ii.we are obligated to reimburse Windstream for Growth Capital Improvements as described in Note 5.
Debt Issuance Costs	Debt Issuance Costs—The Company recognizes debt issuance costs related to a recognized debt liability as a direct deduction from the carrying amount of the debt liability, consistent with debt discounts. The costs, which include underwriting, legal, and other direct costs related to the issuance of debt, are amortized over the contractual term of the debt using the effective interest method.
Revenue Recognition	Revenue Recognition— The following is a description of principal activities, separated by reportable segments (see Note 16), from which the Company generates its revenues. We exclude from the transaction price any amounts collected from customers for sales taxes and therefore, they are not included in revenue. Uniti Leasing Uniti Leasing revenue represents the results from our Uniti Leasing segment, which is engaged in the acquisition and construction of mission-critical communications assets and leasing them to anchor customers on either an exclusive or shared-tenant basis. See discussion in “Leases” in this Note 3 and Note 5. The Windstream Leases (as defined in Note 5) are long-term exclusive triple-net leases, whereby Windstream is responsible for the costs related to operating the Distribution Systems, including property taxes, insurance and maintenance and repair costs. As a result, we do not record an obligation related to the payment of property taxes or insurance, as Windstream makes direct payments to the taxing authorities and insurance carriers, respectively. Uniti Fiber The Uniti Fiber segment represents the operations of our fiber business, Uniti Fiber, which provides: i.Consumer, enterprise, wholesale, and backhaul lit fiber revenue is recognized over the life of the contracts in a pattern that reflects the satisfaction of Uniti’s stand-ready obligation to provide lit fiber services. The transaction price is equal to the monthly-recurring charge multiplied by the contract term, plus any non-recurring or variable charges. For each contract, the customer is invoiced monthly. ii.E-Rate contracts involve providing lit fiber services to schools and libraries, and revenue is recognized over the life of the contract in a pattern that reflects the satisfaction of Uniti’s stand-ready obligation to provide lit fiber services. The transaction price is equal to the monthly-recurring charge multiplied by the contract term, plus any non-recurring or variable charges. For each contract, the customer is invoiced monthly. iii.Construction revenue is generated from contracts to provide various construction services such as equipment installation or the laying of fiber. Construction revenue is recognized over time as construction activities occur as we are either enhancing a customer’s owned asset or constructing an asset with no alternative use to us and we would be entitled to our costs plus a reasonable profit margin if the contract was terminated early by the customer. We are utilizing our costs incurred as the measure of progress of satisfying our performance obligation. iv.Dark fiber and small cell arrangements represent operating leases and revenue is recognized under the leasing guidance. When (i) a customer makes an advance payment or (ii) a customer is contractually obligated to pay any amounts in advance, which is not deemed a separate performance obligation, deferred leasing revenue is recorded. This leasing revenue is recognized ratably over the expected term of the contract, unless the pattern of service suggests otherwise. v.The Company generates revenues from other services, such as consultation services and equipment sales. Revenue from the sale of customer premise equipment and modems that are not provided as an essential part of the telecommunications services, including broadband, long distance, and enhanced services is recognized when products are delivered to and accepted by the customer. Revenue from customer premise equipment and modems provided as an essential part of the telecommunications services, including broadband, long distance, and enhanced services are recognized over time in a pattern that reflects the satisfaction of the service performance obligation. Commissions – Under Topic 606 and Topic 340, Other Assets and Deferred Costs, we capitalize commission fees as costs of obtaining a contract when those commissions are incremental and expected to be recovered from the revenue contract and we amortize those capitalized costs consistent with the pattern of transfer of the product or service to which the capitalized costs relate. The amortization of these costs are included in general and administrative expense on the Consolidated Statements of (Loss) Income. We are exposed to credit losses primarily through our trade receivables. We assess ability to pay for certain customers by considering a variety of factors, such as the customer’s established credit rating, if available, and our assessment of creditworthiness. We determine the allowance for credit losses on accounts receivable using a combination of specific reserves for accounts that are deemed to exhibit credit loss indicators and general reserves that are determined using loss rates based on historical experience and economic expectations. We update our estimate of credit loss reserves quarterly, considering recent write-offs, collections information and underlying economic expectations. The allowance for credit losses is recorded in accounts receivable, net on our Consolidated Balance Sheets.
Straight-Line Revenue Receivable	Straight-Line Revenue Receivable—We evaluate the collectability of our straight-line revenue receivables in accordance with the provisions of ASC 842, where if the collectability of lease payments is not probable at the commencement date, or at any time during the lease term, then we limit the lease revenue to the lesser of the revenue recognized on a straight-line basis or cash basis. If our assessment of collectability changes after the commencement date, we record the difference between the lease revenue that would have been recognized on a straight-line basis and cash basis as a current period adjustment to lease revenue.
Lessee, Leases	Leases—We determine if an arrangement is a lease at contract inception. A lease exists when a contract conveys the right to control the use of identified property, plant, or equipment for a period of time in exchange for consideration. As a lessee, we enter into lease contracts including ground, tower, equipment, building, automobile, colocation and fiber lease arrangements, and service contracts that may include embedded leases. When we are the lessee, we classify leases as either finance or operating leases based on the principle of whether or not the lease is effectively a financed purchase. This classification will determine whether lease expense is comprised of amortization on the right-of-use (“ROU”) asset and interest expense recognized based on an effective interest method (a finance lease) or as a single lease cost recognized on a straight-line basis over the term of the lease (an operating lease). We recognize an ROU asset and a lease liability for all leases with a term of greater than 12 months regardless of classification. We recognize the lease payments associated with our short-term leases, which have lease terms less than 12 months, as an expense on a straight-line basis over the lease term. ROU assets and lease liabilities related to operating leases where we are the lessee are separately stated on our Consolidated Balance Sheets. The ROU asset is initially measured as the initial amount of the lease liability adjusted for lease payments made at or before the lease commencement date, plus any initial direct costs incurred less, any lease incentives received. The ROU asset is subsequently measured throughout the lease term at the carrying amount of the lease liability, plus initial direct costs, plus (minus) any prepaid (accrued) lease payments, less the unamortized balance of lease incentives received. The lease liabilities are initially and subsequently measured at the present value of the unpaid lease payments. Lease expense for lease payments is recognized on a straight-line basis over the lease term. ROU assets and lease liabilities related to finance leases where we are the lessee are included in property, plant and equipment, net and finance lease obligations, respectively, on our Consolidated Balance Sheets. The ROU asset is initially measured as the initial amount of the lease liability adjusted for lease payments made at or before the lease commencement date, plus any initial direct costs incurred less, any lease incentives received. The ROU asset is subsequently amortized using the straight-line method from the lease commencement date to the earlier of the end of its useful life or the end of the lease term unless the lease transfers ownership of the underlying asset to us, or we are reasonably certain to exercise an option to purchase the underlying asset. In those cases, the ROU asset is amortized over the useful life of the underlying asset. The lease liabilities are initially measured in the same manner as operating leases and are subsequently measured at amortized cost using the effective interest method. Amortization of the finance lease assets is recognized and presented separately from interest expense on the lease liability, as part of depreciation and amortization expense on the Consolidated Statements of (Loss) Income. We have lease agreements which include lease and nonlease components. For leases where we are a lessee, we have elected to combine lease and nonlease components for all lease contracts. For leases where we are the lessor, we combine the lease and non-lease components when the components qualify to be combined and we account for the combined arrangement based on whether the lease or non-lease component is predominant. Maintenance services are the primary nonlease components and the combined components typically are treated as leases for revenue recognition purposes. We have elected to exclude sales taxes from lease payments in arrangements where we are a lessor. Operating leases where we are the lessor are included in Uniti Leasing and Unit Fiber revenues on our Consolidated Statements of (Loss) Income. For operating leases where we are the lessor, we continue recognizing the underlying asset and depreciating it over its estimated useful life. Lease income is recognized on a straight-line basis over the lease term. Leasing revenue is not recognized when collection of all contractual rents over the term of the agreement is not probable. When collection is not probable, we limit the lease revenue to the lesser of the revenue recognized on a straight-line basis or cash basis. From time to time we may enter into sales-type lease arrangements as a lessor that may include (i) a lessee obligation to purchase the leased equipment at the end of the lease term, (ii) a bargain purchase option, (iii) a lease term having a duration that is for the major part of the remaining economic life of the leased equipment or (iv) provides for minimum lease payments with a present value amounting to substantially all of the fair value of the leased asset at the date of lease commencement. Variable lease payments associated with our leases are recognized when the event, activity, or circumstance in the lease agreement on which those payments are assessed occurs. Variable lease payments are presented within Uniti Leasing and Unit Fiber revenues and general and administrative expense and operating expense in our Consolidated Statements of (Loss) Income in the same line item as revenue arising from fixed lease payments (operating leases where we are the lessor) and expense arising from fixed lease payments (operating leases where we are the lessee) or amortization of the ROU asset (finance leases), respectively. We monitor for events or changes in circumstances that require a reassessment of a lease. When a reassessment results in the remeasurement of a lease liability, a corresponding adjustment is made to the carrying amount of the corresponding ROU asset unless doing so would reduce the carrying amount of the ROU asset to an amount less than zero. In that case, the amount of the adjustment that would result in a negative ROU asset balance is recorded in general and administrative and operating expense in our Consolidated Statements of (Loss) Income. Key lease 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. i.ASC 842 requires a lessor to discount its unpaid lease payments using the interest rate implicit in the lease and a lessee to discount its unpaid lease payments using the interest rate implicit in the lease or, if that rate cannot be readily determined, its incremental borrowing rate. As we generally do not know the implicit rate for our leases where we are the lessee, we use our incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. Our incremental borrowing rate for a lease is the rate of interest we would have to pay on a collateralized basis to borrow an amount equal to the lease payments under similar terms. ii.The lease term for all of our leases includes the noncancellable period of the lease plus any additional periods covered by either a lessee option to extend (or not to terminate) the lease that the lessee is reasonably certain to exercise, or an option to extend (or not to terminate) the lease controlled by the lessor. iii.Lease payments included in the measurement of the lease asset or liability comprise the following: (i) fixed payments (including in-substance fixed payments), (ii) variable payments that depend on index or rate based on the index or rate at lease commencement, and (iii) the exercise price of a lessee option to purchase the underlying asset if the lessee is reasonably certain to exercise.
Lessor, Leases	Leases—We determine if an arrangement is a lease at contract inception. A lease exists when a contract conveys the right to control the use of identified property, plant, or equipment for a period of time in exchange for consideration. As a lessee, we enter into lease contracts including ground, tower, equipment, building, automobile, colocation and fiber lease arrangements, and service contracts that may include embedded leases. When we are the lessee, we classify leases as either finance or operating leases based on the principle of whether or not the lease is effectively a financed purchase. This classification will determine whether lease expense is comprised of amortization on the right-of-use (“ROU”) asset and interest expense recognized based on an effective interest method (a finance lease) or as a single lease cost recognized on a straight-line basis over the term of the lease (an operating lease). We recognize an ROU asset and a lease liability for all leases with a term of greater than 12 months regardless of classification. We recognize the lease payments associated with our short-term leases, which have lease terms less than 12 months, as an expense on a straight-line basis over the lease term. ROU assets and lease liabilities related to operating leases where we are the lessee are separately stated on our Consolidated Balance Sheets. The ROU asset is initially measured as the initial amount of the lease liability adjusted for lease payments made at or before the lease commencement date, plus any initial direct costs incurred less, any lease incentives received. The ROU asset is subsequently measured throughout the lease term at the carrying amount of the lease liability, plus initial direct costs, plus (minus) any prepaid (accrued) lease payments, less the unamortized balance of lease incentives received. The lease liabilities are initially and subsequently measured at the present value of the unpaid lease payments. Lease expense for lease payments is recognized on a straight-line basis over the lease term. ROU assets and lease liabilities related to finance leases where we are the lessee are included in property, plant and equipment, net and finance lease obligations, respectively, on our Consolidated Balance Sheets. The ROU asset is initially measured as the initial amount of the lease liability adjusted for lease payments made at or before the lease commencement date, plus any initial direct costs incurred less, any lease incentives received. The ROU asset is subsequently amortized using the straight-line method from the lease commencement date to the earlier of the end of its useful life or the end of the lease term unless the lease transfers ownership of the underlying asset to us, or we are reasonably certain to exercise an option to purchase the underlying asset. In those cases, the ROU asset is amortized over the useful life of the underlying asset. The lease liabilities are initially measured in the same manner as operating leases and are subsequently measured at amortized cost using the effective interest method. Amortization of the finance lease assets is recognized and presented separately from interest expense on the lease liability, as part of depreciation and amortization expense on the Consolidated Statements of (Loss) Income. We have lease agreements which include lease and nonlease components. For leases where we are a lessee, we have elected to combine lease and nonlease components for all lease contracts. For leases where we are the lessor, we combine the lease and non-lease components when the components qualify to be combined and we account for the combined arrangement based on whether the lease or non-lease component is predominant. Maintenance services are the primary nonlease components and the combined components typically are treated as leases for revenue recognition purposes. We have elected to exclude sales taxes from lease payments in arrangements where we are a lessor. Operating leases where we are the lessor are included in Uniti Leasing and Unit Fiber revenues on our Consolidated Statements of (Loss) Income. For operating leases where we are the lessor, we continue recognizing the underlying asset and depreciating it over its estimated useful life. Lease income is recognized on a straight-line basis over the lease term. Leasing revenue is not recognized when collection of all contractual rents over the term of the agreement is not probable. When collection is not probable, we limit the lease revenue to the lesser of the revenue recognized on a straight-line basis or cash basis. From time to time we may enter into sales-type lease arrangements as a lessor that may include (i) a lessee obligation to purchase the leased equipment at the end of the lease term, (ii) a bargain purchase option, (iii) a lease term having a duration that is for the major part of the remaining economic life of the leased equipment or (iv) provides for minimum lease payments with a present value amounting to substantially all of the fair value of the leased asset at the date of lease commencement. Variable lease payments associated with our leases are recognized when the event, activity, or circumstance in the lease agreement on which those payments are assessed occurs. Variable lease payments are presented within Uniti Leasing and Unit Fiber revenues and general and administrative expense and operating expense in our Consolidated Statements of (Loss) Income in the same line item as revenue arising from fixed lease payments (operating leases where we are the lessor) and expense arising from fixed lease payments (operating leases where we are the lessee) or amortization of the ROU asset (finance leases), respectively. We monitor for events or changes in circumstances that require a reassessment of a lease. When a reassessment results in the remeasurement of a lease liability, a corresponding adjustment is made to the carrying amount of the corresponding ROU asset unless doing so would reduce the carrying amount of the ROU asset to an amount less than zero. In that case, the amount of the adjustment that would result in a negative ROU asset balance is recorded in general and administrative and operating expense in our Consolidated Statements of (Loss) Income. Key lease 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. i.ASC 842 requires a lessor to discount its unpaid lease payments using the interest rate implicit in the lease and a lessee to discount its unpaid lease payments using the interest rate implicit in the lease or, if that rate cannot be readily determined, its incremental borrowing rate. As we generally do not know the implicit rate for our leases where we are the lessee, we use our incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. Our incremental borrowing rate for a lease is the rate of interest we would have to pay on a collateralized basis to borrow an amount equal to the lease payments under similar terms. ii.The lease term for all of our leases includes the noncancellable period of the lease plus any additional periods covered by either a lessee option to extend (or not to terminate) the lease that the lessee is reasonably certain to exercise, or an option to extend (or not to terminate) the lease controlled by the lessor. iii.Lease payments included in the measurement of the lease asset or liability comprise the following: (i) fixed payments (including in-substance fixed payments), (ii) variable payments that depend on index or rate based on the index or rate at lease commencement, and (iii) the exercise price of a lessee option to purchase the underlying asset if the lessee is reasonably certain to exercise.
Stock-Based Compensation	Stock-Based Compensation—We account for stock-based compensation using the fair value method of accounting. We have determined that our stock-based payment awards granted in exchange for employee services qualify as equity classified awards, which are measured based on the fair value of the award on the date of the grant. The fair value of restricted stock-based payments is based on the market value of our common stock on the date of grant. The fair value of performance-based awards, which have performance conditions, is based on a Monte Carlo simulation. The fair value of all stock-based compensation is recognized over the period during which an employee is required to provide services in exchange for the award.
Income Taxes	Income Taxes—We elected on our initial U.S. federal income tax return to be treated as a REIT under the Internal Revenue Code of 1986, as amended (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, we will be subject to U.S. federal income tax 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 may be required to record a provision in our Consolidated Financial Statements for U.S. federal income taxes related to the activities of the REIT and its passthrough subsidiaries for any undistributed income. We are subject to the statutory requirements of the locations in which we conduct business, and state and local income taxes are accrued as deemed required in the best judgment of management based on analysis and interpretation of respective tax laws. We have elected to treat the subsidiaries through which we operate Uniti Fiber and certain subsidiaries of Uniti Leasing as taxable REIT subsidiaries (“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. Deferred tax assets and liabilities are recognized under the asset and liability method 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. Deferred tax balances are adjusted to reflect tax rates based on currently enacted tax laws, which will be in effect in the years in which the temporary differences are expected to reverse. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the results of operations in the period of the enactment date. A valuation allowance is recorded to reduce the carrying amounts of deferred tax assets unless it is more likely than not that such assets will be realized. 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. If applicable, we will report tax-related penalties and interest expense as a component of income tax expense. We currently have unrecognized tax benefits of $1.7 million recorded in deferred income taxes on our Consolidated Balance Sheet. The Company may be subject to state corporate level tax in a certain limited number of states on any built-in gain recognized from a sale of assets occurring within a ten-year recognition period after the Spin-Off. The five-year 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	Business Combinations and Asset Acquisitions—In accordance with ASC 805, Business Combinations, we apply the acquisition method of accounting for acquisitions meeting the definition of a business combination or asset acquisition, where assets acquired and liabilities assumed are recorded at fair value at the date of each acquisition, and the results of operations are included with those of the Company from the dates of the respective acquisitions. The fair value of the acquired assets and liabilities are estimated using the income, market and/or cost approach. The income approach utilizes the present value of estimated future cash flows that a business or asset can be expected to generate, while under the market approach, the fair value of an asset or business reflects the price at which comparable assets are purchased under similar circumstances. Inherent in our preparation of cash flow projections are significant assumptions and estimates derived from a review of operating results, business plans, expected growth rates, capital expenditure plans, cost of capital and tax rates. We also make certain forecasts about future economic conditions, interest rates and other market data. Many of the factors used in assessing fair value are outside the control of management. Small changes in these assumptions or estimates could materially affect the cash flow projections, and therefore could affect the estimated fair value. Impacts of these assumptions or estimates include customer retention, execution of our business plans, which impact growth, cost escalation impacting margin, the level of capital expenditures required to sustain our growth and market factors, including interest rate and stock price fluctuations, impacting our cost of capital. For acquisitions meeting the definition of a business combination, any excess of the purchase price paid by the Company over the amounts recognized for assets acquired and liabilities assumed is recorded as goodwill. ASC 805 also requires acquirers to, among other things, estimate the acquisition date fair value of any contingent consideration and recognize any subsequent changes in the fair value of contingent consideration in earnings. When provisional amounts are initially recorded, the Company continues to evaluate acquisitions for a period not to exceed one year after the applicable acquisition date of each transaction to determine whether any additional adjustments are needed to the allocation of the purchase price paid for the assets acquired and liabilities assumed. For acquisitions meeting the definition of an asset acquisition, the fair value of the consideration transferred, including transaction costs, is allocated to the assets acquired and liabilities assumed based on their relative fair values. There are significant judgments and estimates used in determining the fair values of the assets acquired and liabilities assumed, which include assumptions with respect to items such as replacement cost, land value, assemblage factor, discount rate, lease-up period, implied rents per strand mile, and useful life. No goodwill is recognized in an asset acquisition.
Noncontrolling Interest	Noncontrolling Interest—The limited partner equity interests in our operating partnership are exchangeable on a one-for-one basis for shares of our common stock or, at our election, cash of equivalent value. All of the limited partner equity interests in our operating partnership not held by the Company are reflected as noncontrolling interests. In the Consolidated Statements of (Loss) Income, we allocate net income (loss) attributable to noncontrolling interests to arrive at net (loss) income attributable to shareholders based on their proportionate share. For transactions that result in changes to the Company's ownership interest in our operating partnership, the carrying amount of noncontrolling interests is adjusted to reflect such changes. The difference between the fair value of the consideration received or paid and the amount by which the noncontrolling interest is adjusted is reflected as an adjustment to additional paid-in capital on the Consolidated Balance Sheets.
Investments in Unconsolidated Entities	Investments in Unconsolidated Entities—We report our investments in unconsolidated entities under the equity method of accounting. We adjust our investments in unconsolidated entities for additional contributions made, distributions received as well as our share of the investees’ earnings or losses, which are reported on a 30-day lag for the investment in BB Fiber Holdings LLC (“Fiber Holdings”) and on a 90-day lag for the investment in Harmoni Towers LP (“Harmoni”), and are included in equity in earnings from unconsolidated entities in our Consolidated Statements of (Loss) Income. See Note 8.
Goodwill	Goodwill—As of December 31, 2023, and 2022, all of our goodwill is included in our Uniti Fiber segment. Goodwill is recognized for the excess of purchase price over the fair value of net assets of businesses acquired. Goodwill is reviewed for impairment on an annual basis. Our annual impairment test is performed with a valuation date of October 1. In accordance with ASC 350-20, Intangibles-Goodwill and Other ("ASC 350-20"), we evaluate goodwill for impairment between annual impairment tests if an event occurs or circumstances change that would more likely than not reduce the fair value of a reporting unit below its carrying amount (a “Triggering Event”). On the occurrence of a Triggering Event, an entity has the option to first assess qualitative factors to determine whether a quantitative impairment test is necessary. If it is more likely than not that goodwill is impaired, the fair value of the reporting unit must be compared with its carrying value. Unless circumstances otherwise dictate, the annual impairment test is performed in the fourth quarter. Application of the goodwill impairment test requires significant judgment, including: the identification of reporting units; assignment of assets and liabilities to reporting units; assignment of goodwill to reporting units; and the estimation of the fair value of a reporting unit. During the third quarter of 2023, the Company identified a Triggering Event under ASC 350-20 and, therefore, performed a qualitative and quantitative goodwill impairment test with a valuation date of September 30, 2023. The Triggering Event was a result of macroeconomic and financial market factors, specifically increased interest rates impacting our discount rate. As a result, we concluded that the fair value of the Uniti Fiber reporting unit, estimated using a combination of the income approach and market approach, was less than its carrying amount. Accordingly, we recorded a $204.0 million goodwill impairment charge in the Uniti Fiber reporting unit. During the third quarter of 2022, the Company identified a Triggering Event under ASC 350-20 and, therefore, performed a qualitative and quantitative goodwill impairment test with a valuation date of September 30, 2022. The Triggering Event was a result of macroeconomic and financial market factors, specifically increased interest rates impacting our discount rate. As a result, we concluded that the fair value of the Uniti Fiber reporting unit, estimated using a combination of the income approach and market approach, was less than its carrying amount. Accordingly, we recorded a $216.0 million goodwill impairment charge in the Uniti Fiber reporting unit. During the fourth quarter of 2022, we performed an additional quantitative and qualitative impairment test, and concluded that as a result of the continuing macroeconomic and financial market factors, specifically increased interest rates impacting our discount rate, the fair value of the Uniti Fiber reporting unit was less than its carrying amount. As a result, we recorded an additional $24.5 million goodwill impairment charge in the Uniti Fiber reporting unit. During the year ended December 31, 2021, no impairment losses were recognized. We estimate the fair value of our reporting units (which are our segments) using a combination of an income approach based on the present value of estimated future cash flows and a market approach based on market data of comparable businesses and acquisition multiples paid in recent transactions. We evaluate the appropriateness of each valuation methodology in determining the weighting applied to each methodology in the determination of the concluded fair value. If the carrying amount of a reporting unit's net assets is less than its fair value, no impairment exists. If the carrying amount of the reporting unit is greater than the fair value of the reporting unit, an impairment loss must be recognized for the excess and recorded in the Consolidated Statements of (Loss) Income not to exceed the carrying amount of goodwill. Inherent in our preparation of cash flow projections are significant assumptions and estimates derived from a review of our operating results and business plans, which includes expected revenue and expense growth rates, capital expenditure plans and cost of capital. In determining these assumptions, we consider our ability to execute on our plans, future economic conditions, interest rates and other market data. Many of the factors used in assessing fair value are outside the control of management, and these assumptions and estimates may change in future periods. Small changes in these assumptions or estimates could materially affect our cash flow projections, and therefore could affect the likelihood and amount of potential impairment in future periods. Potential events that could negatively impact these assumptions or estimates may include customer losses or poor execution of our business plans, which impact revenue growth, cost escalation impacting margin, the level of capital expenditures required to sustain our growth and market factors, including stock price fluctuations and increased rates, impacting our cost of capital. For example, if we were to experience a significant delay in our permitting process in the construction of our fiber networks, the timing of effected cash flows could impact long term growth rates and negatively impact the income approach, leading to potential impairment. As a result, should our expectations of average projected revenue growth percentage, average projected EBITDA margin percentage and/or average projected capital expenditures as a percentage of revenue change, we may experience future impairment to goodwill (while other assumptions remain constant). Furthermore, a deterioration in market factors such as stock prices or increased interest rates and/or declines in acquisition multiples utilized in the market approach could affect the likelihood and amount of potential impairment.
Earnings per Share	Earnings per Share—Outstanding restricted stock awards that contain rights to non-forfeitable dividends are deemed to be participating securities, requiring the application of the two-class method of computing basic and dilutive earnings per share. Basic earnings per share includes only the weighted average number of common shares outstanding during the period. Dilutive earnings per share includes the weighted average number of common shares and the dilutive effect of restricted stock, performance-based awards outstanding during the period, the Convertible 2027 Notes and the Exchangeable Notes, when such awards are dilutive. See Note 15.
Concentration of Credit Risks	Concentration of Credit Risks—Revenue under the Windstream Leases provided 67.3% of our revenue for the year ended December 31, 2023, 66.5% of our revenue for the year ended December 31, 2022, and 66.4% of our revenue for the year ended December 31, 2021. Because a substantial portion of our revenue and cash flows are derived from lease payments by Windstream pursuant to the Windstream Leases, there could be a material adverse impact on our consolidated results of operations, liquidity, financial condition and/or ability to pay dividends and service debt if Windstream were to default under the Windstream Leases or otherwise experiences operating or liquidity difficulties and becomes unable to generate sufficient cash to make payments to us. Prior to its emergence from bankruptcy on September 21, 2020, Windstream was a publicly traded company subject to the periodic filing requirements of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). Windstream historic filings through their quarter ended June 30, 2020 can be found at www.sec.gov. On September 22, 2020, Windstream filed a Form 15 to terminate all filing obligations under Sections 12(g) and 15(d) under the Exchange Act. Windstream’s filings are not incorporated by reference in this Annual Report on Form 10-K. We monitor the credit quality of Windstream through numerous methods, including by (i) reviewing credit ratings of Windstream by nationally recognized credit agencies, (ii) reviewing the financial statements of Windstream that are required to be delivered to us pursuant to the Windstream Leases, (iii) monitoring new reports regarding Windstream and its business, (iv) conducting research to ascertain industry trends potentially affecting Windstream, (v) monitoring Windstream’s compliance with the terms of the Windstream Leases and (vi) monitoring the timeliness of its payments under the Windstream Leases. As of the date of this Annual Report on Form 10-K, Windstream is current on all lease payments. We note that in August 2020, Moody’s Investor Service assigned a B3 corporate family rating with a stable outlook to Windstream in connection with its post-emergence exit financing. At the same time, S&P Global Ratings assigned Windstream a B- issuer rating with a stable outlook. These ratings were both upgrades from Windstream’s pre-bankruptcy ratings. Both ratings remain current as of the date of this filing. In order to assist us in our continuing assessment of Windstream’s creditworthiness, we periodically receive certain confidential financial information and metrics from Windstream.
Recently Adopted Accounting Standards	Recently Adopted Accounting Pronouncements In March 2022, the FASB issued Accounting Standards Update ("ASU") 2022-02, Financial Instruments—Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures ("ASU 2022-02"), which eliminates the accounting guidance for troubled debt restructurings and requires the disclosure of current-period gross write-offs of financing receivables and net investment in leases by year of origination. The Company adopted ASU 2022-02 on January 1, 2023, and the adoption had no impact on the Company's consolidated financial statements. In December 2022, the FASB issued ASU 2022-06, Reference Rate Reform (Topic 848): Deferral of the Sunset Date of Topic 848 ("ASU 2022-06"), which provides additional relief for contract modifications completed after the December 31, 2022 LIBOR sunset date. The amendment allows for a deferral until December 31, 2024. The Company adopted ASU 2022-06 at issuance, and the adoption had no impact on the Company's consolidated financial statements. Recently Issued Accounting Pronouncements Not Yet Adopted In November 2023, the FASB issued ASU 2023-07, Segment Reporting—Improvements to Reportable Segment Disclosures ("ASU 2023-07"), which requires incremental disclosures related to reportable segments. Specifically, the ASU requires disclosure of significant segment expense categories and amounts for each reportable segment. The ASU is effective for fiscal years beginning after December 15, 2023, and interim periods in fiscal years beginning after December 15, 2024, with early adoption permitted. The Company is currently evaluating this guidance to determine the impact it will have on our financial statements.

Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2023

Fair Value Disclosures [Abstract]

Schedule of Fair Value Valuation of Financial Instruments

The following table summarizes the fair value of our financial instruments at December 31, 2023 and 2022:


(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, 2023
Liabilities
Senior secured notes - 10.50%, due February 15, 2028	$	2,624,596	$	—	$	2,624,596	$	—
Senior secured notes - 4.75%, due April 15, 2028	488,205		—		488,205		—
Senior unsecured notes - 6.50%, due February 15, 2029	796,125		—		796,125		—
Senior unsecured notes - 6.00%, due January 15, 2030	486,675		—		486,675		—
Exchangeable senior unsecured notes - 4.00%, due June 15, 2024	122,140		—		122,140		—
Convertible senior notes - 7.50% due December 1, 2027	301,755		—		301,755		—
Senior secured revolving credit facility, variable rate, due September 24, 2027	207,979		—		207,979		—
Settlement payable	160,550		—		160,550		—
Total	$	5,188,025	$	—	$	5,188,025	$	—


(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, 2022
Liabilities
Senior secured notes - 7.875%, due February 15, 2025	$	2,208,319	$	—	$	2,208,319	$	—
Senior secured notes - 4.75%, due April 15, 2028	469,740		—		469,740		—
Senior unsecured notes - 6.50%, due February 15, 2029	759,917		—		759,917		—
Senior unsecured notes - 6.00%, due January 15, 2030	467,401		—		467,401		—
Exchangeable senior unsecured notes - 4.00%, due June 15, 2024	127,024		—		127,024		—
Convertible senior notes - 7.50%, due December 1, 2027	297,765		—		297,765		—
Senior secured revolving credit facility, variable rate, due December 10, 2024	187,981		—		187,981		—
Settlement payable	232,350		—		232,350		—
Total	$	4,750,497	$	—	$	4,750,497	$	—

Stock-Based Compensation - Summary of Assumptions used to Value Purchase Rights Granted Under ESPP (Details) - Employee Stock Purchase Plan	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected term (years)	6 months	6 months	6 months
Expected volatility	58.00%	12.00%	28.00%
Expected annual dividend	12.20%	6.10%	5.50%
Risk free rate	5.40%	2.50%	0.10%

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

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

12 Months Ended

Dec. 31, 2023

Condensed Financial Information 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, 2023		December 31, 2022
Assets:
Cash and cash equivalents	$	627	$	2,733
Other assets	—		202
Total Assets	$	627	$	2,935

Liabilities:
Accrued other liabilities	$	6,441	$	5,152
Dividends payable	36,144		—
Notes and other debt, net	298,408		296,732
Cash distributions and losses in excess of investments in consolidated subsidiaries	2,146,026		1,974,628
Total liabilities	2,487,019		2,276,512

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: 236,559 shares at December 31, 2023 and 235,829 at December 31, 2022	24		24
Additional paid-in capital	1,221,824		1,210,033
Distributions in excess of accumulated earnings	(3,708,240)		(3,483,634)
Total Uniti shareholders' deficit	(2,486,392)		(2,273,577)
Total Liabilities, Convertible Preferred Stock, and Shareholders' Deficit	$	627	$	2,935

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

Goodwill and Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2023

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, 2023 and 2022, are as follows:


(Thousands)	Uniti Fiber		Total
Goodwill at December 31, 2021	$	672,878	$	672,878
Accumulated impairment charges as of December 31, 2021	(71,000)		(71,000)
Balance at December 31, 2021	601,878		601,878
Impairment charges	(240,500)		(240,500)
Balance as of December 31, 2022	361,378		361,378
Impairment charges (Note 3)	(203,998)		(203,998)
Balance at December 31, 2023	$	157,380	$	157,380

Goodwill at December 31, 2023	$	672,878	$	672,878
Accumulated impairment charges as of December 31, 2023	(515,498)		(515,498)
Balance at December 31, 2023	$	157,380	$	157,380

Schedule of Carrying Value of Other Intangible Assets

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


(Thousands)	December 31, 2023				December 31, 2022
	Cost		Accumulated Amortization		Cost		Accumulated Amortization
Finite life intangible assets:
Customer lists	$	416,104	$	(151,542)	$	416,104	$	(128,728)
Contracts	52,536		(21,343)		52,536		(14,776)
Underlying rights	10,497		(1,137)		10,497		(787)

Total intangible assets	$	479,137			$	479,137
Less: accumulated amortization	(174,022)				(144,291)
Total intangible assets, net	$	305,115			$	334,846

Finite life intangible liabilities:
Acquired below-market leases	$	191,154	$	(34,757)	$	191,154	$	(24,062)

Total intangible liabilities	191,154				191,154
Less: accumulated amortization	(34,757)				(24,062)
Total intangible liabilities, net	$	156,397			$	167,092

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482548/350-20-55-24

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+ Details

Summary of Significant Accounting Policies - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended	12 Months Ended
	Sep. 30, 2023	Dec. 31, 2022	Sep. 30, 2022	Sep. 30, 2023	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Feb. 23, 2024
Summary Of Significant Accounting Policies [Line Items]
Capital expenditures					$ 417,002	$ 427,567	$ 385,855
Dividends paid					107,405	142,950	141,371
Net cash provided by (used in) operating activities				$ 190,575	353,129	460,115	499,157
Goodwill impairment	$ 203,998			$ 203,998	$ 203,998	$ 240,500	$ 0
Revolving Credit Facility \| ABS Credit Agreement \| Line of Credit \| Subsequent Event
Summary Of Significant Accounting Policies [Line Items]
Line of credit facility, maximum borrowing capacity								$ 350,000
Windstream \| Revenue \| Customer Concentration Risk
Summary Of Significant Accounting Policies [Line Items]
Windstream leases revenue percentage					67.30%	66.50%	66.40%
Uniti Fiber
Summary Of Significant Accounting Policies [Line Items]
Investment report period lag					30 days
Goodwill impairment		$ 24,500	$ 216,000
Harmoni
Summary Of Significant Accounting Policies [Line Items]
Investment report period lag					90 days

Investment in Unconsolidated Entities	12 Months Ended
Investment in Unconsolidated Entities	Dec. 31, 2023
Equity Method Investments and Joint Ventures [Abstract]
Investment in Unconsolidated Entities	Investment in Unconsolidated Entities Fiber Holdings On December 21, 2023, the Company completed the sale of its investment in BB Fiber Holdings LLC to MIP IV MidWest Fiber Parent LLC, our partner in the investment, for total cash consideration of $40.0 million, which was received in January of 2024. The receivable was included within Other Assets on the Consolidated Balance Sheet as of December 31, 2023. As a result of the transaction, during the fourth quarter of 2023 we recorded a pre-tax gain of $2.6 million within other expense (income), net and $0.2 million of income tax expense within our Consolidated Statements of (Loss) Income. Harmoni On June 21, 2022, the Company completed the sale of its investment in Harmoni Towers LP to Palistar Communications Infrastructure GP LLC, our partner in the investment, for total cash consideration of $32.5 million. As a result of the transaction, during the second quarter of 2022 we recorded a pre-tax gain of $7.9 million within other expense (income), net and $6.7 million of income tax expense within our Consolidated Statements of (Loss) Income.

Dividends (Distributions)

12 Months Ended

Dec. 31, 2023

Payments of Dividends [Abstract]

Dividends (Distributions)

Capital Stock

Dividends (Distributions)


	Year Ended December 31,
	2023		2022		2021
Ordinary dividends	$	0.45	$	0.75	$	0.45
Capital gain distribution	$	—	$	—	$	—
Total	$	0.45	$	0.75	$	0.45

- Definition

The entire disclosure for equity.

+ References

+ Details

Dividends (Distributions) (Tables)

12 Months Ended

Dec. 31, 2023

Payments of Dividends [Abstract]

Dividends Declared

For the years ended December 31, 2023, 2022, and 2021, our common stock distribution per share was $0.45, $0.75 and $0.45, respectively, characterized as follows:


	Year Ended December 31,
	2023		2022		2021
Ordinary dividends	$	0.45	$	0.75	$	0.45
Capital gain distribution	$	—	$	—	$	—
Total	$	0.45	$	0.75	$	0.45

Business Combinations, Asset Acquisitions and Dispositions - Schedule of Assets and Liabilities Sold (Details) - USD ($) $ in Thousands		12 Months Ended
	May 28, 2021	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Assets:
Total assets		$ 28,605	$ 0
Liabilities:
Total liabilities		331	0
Gain on sale of operations		$ 0	$ 176	$ 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

Schedule I - Condensed Financial Information of The Registrant (Parent Company) - Condensed Balance Sheets (Details) - USD ($)	Dec. 31, 2023	Sep. 30, 2023	Dec. 31, 2022
Assets:
Cash and cash equivalents	$ 62,264,000		$ 43,803,000
Other assets	118,117,000		77,597,000
Total Assets	5,025,129,000	$ 4,943,362,000	4,851,229,000
Liabilities:
Dividends payable	36,162,000		2,000
Notes and other debt, net	5,523,579,000		5,188,815,000
Total liabilities	7,509,250,000		7,122,435,000
Shareholders' Deficit:
Preferred stock, $0.0001 par value, 50,000 shares authorized, no shares issued and outstanding	0		0
Common Stock, Value, Issued	24,000		24,000
Additional paid-in capital	1,221,824,000		1,210,033,000
Distributions in excess of accumulated earnings	(3,708,240,000)	(3,703,515,000)	(3,483,634,000)
Total Uniti shareholders' deficit	(2,486,392,000)	(2,484,676,000)	(2,273,577,000)
Total Liabilities and Shareholders' Deficit	$ 5,025,129,000	$ 4,943,362,000	$ 4,851,229,000
Preferred stock, par value (in dollars per share)	$ 0.0001		$ 0.0001
Preferred stock, shares authorized (in shares)	50,000,000		50,000,000
Preferred stock, shares issued (in shares)	0		0
Preferred stock, shares outstanding (in shares)	0		0
Common stock, par value (in dollars per share)	$ 0.0001		$ 0.0001
Common stock, shares authorized (in shares)	500,000,000		500,000,000
Common stock, shares issued (in shares)	236,559,000		235,829,000
Common stock, shares outstanding (in shares)	236,558,601		235,829,000
Uniti Group Inc.
Assets:
Cash and cash equivalents	$ 627,000		$ 2,733,000
Other assets	0		202,000
Total Assets	627,000		2,935,000
Liabilities:
Accrued other liabilities	6,441,000		5,152,000
Dividends payable	36,144,000		0
Notes and other debt, net	298,408,000		296,732,000
Cash distributions and losses in excess of investments in consolidated subsidiaries	2,146,026,000		1,974,628,000
Total liabilities	2,487,019,000		2,276,512,000
Shareholders' Deficit:
Preferred stock, $0.0001 par value, 50,000 shares authorized, no shares issued and outstanding	0		0
Common Stock, Value, Issued	24,000		24,000
Additional paid-in capital	1,221,824,000		1,210,033,000
Distributions in excess of accumulated earnings	(3,708,240,000)		(3,483,634,000)
Total Uniti shareholders' deficit	(2,486,392,000)		(2,273,577,000)
Total Liabilities and Shareholders' Deficit	$ 627,000		$ 2,935,000
Preferred stock, par value (in dollars per share)	$ 0.0001		$ 0.0001
Preferred stock, shares authorized (in shares)	50,000,000		50,000,000
Preferred stock, shares issued (in shares)	0		0
Preferred stock, shares outstanding (in shares)	0		0

Schedule I - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Uniti Group Inc.
Condensed Financial Statements Captions [Line Items]
Cash dividends received from subsidiaries	$ 106.4	$ 141.4	$ 139.9
Uniti Group LP
Condensed Financial Statements Captions [Line Items]
Percentage of partnership interests owned	99.96%

Leases

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

Leases

Lessor Accounting

We lease communications towers, ground, colocation, other communication 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, 2023 and 2022 are as follows:


(Thousands)	Year Ended December 31, 2023		Year Ended December 31, 2022
Lease income - operating leases	$	911,828	$	892,414

Lease payments to be received under non-cancellable operating leases where we are the lessor for the remainder of the lease terms as of December 31, 2023 are as follows:


(Thousands)	December 31, 2023 (1)
2024	$	806,483
2025	816,771
2026	818,196
2027	819,134
2028	819,813
Thereafter	1,556,217
Total lease receivables	$	5,636,614
(1) Total future minimum lease payments to be received include $4.7 billion relating to the Windstream Leases.

The underlying assets under operating leases where we are the lessor as of December 31, 2023 and 2022 are summarized as follows:


(Thousands)	December 31, 2023		December 31, 2022
Land	$	26,533	$	26,549
Building and improvements	347,700		346,093
Poles	314,488		296,941
Fiber	3,862,635		3,529,835
Equipment	436		437
Copper	3,974,410		3,964,439
Conduit	90,087		89,963
Tower assets	58		1,397
Finance lease assets	1,890		28,126
Other assets	10,434		10,434
	8,628,671		8,294,214
Less: accumulated depreciation	(5,690,066)		(5,542,726)
Underlying assets under operating leases, net	$	2,938,605	$	2,751,488

Depreciation expense for the underlying assets under operating leases where we are the lessor for the years ended December 31, 2023 and 2022 is summarized as follows:


(Thousands)	Year Ended December 31, 2023		Year Ended December 31, 2022
Depreciation expense for underlying assets under operating leases	$	182,906	$	176,160

Lessee Accounting

We have commitments under operating leases for communications towers, ground, colocation, other communication equipment, dark fiber lease arrangements and buildings. We also have finance leases for automobiles and dark fiber lease arrangements. 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, 2023, we have short term lease commitments amounting to approximately $3.5 million.

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 (Loss) Income for the years ended December 31, 2023 and 2022 are as follows:


(Thousands)	Year Ended December 31, 2023		Year Ended December 31, 2022
Finance lease cost
Amortization of ROU assets	$	4,066	$	3,793
Interest on lease liabilities	1,575		1,437
Total finance lease cost	5,641		5,230
Operating lease cost	22,999		19,946
Short-term lease cost	3,525		3,109
Variable lease cost	938		547
Less sublease income	(14,590)		(13,683)
Total lease cost	$	18,513	$	15,149

Amounts reported in the Consolidated Balance Sheets for leases where we are the lessee as of December 31, 2023 and 2022 were as follows:


(Thousands)	Location on Consolidated Balance Sheets	December 31, 2023			December 31, 2022
Operating leases
ROU asset, net	Operating lease right-of-use assets, net	$	125,105		$	88,545
Lease liability	Operating lease liabilities	84,404			66,356

Finance leases
ROU asset, gross	Property, plant and equipment, net	$	52,589		$	73,487
Lease liability	Finance lease obligations	18,110			15,520

Weighted-average remaining lease term
Operating leases		13.4 years			10.1 years
Finance leases		8.7 years			11.5 years

Weighted-average discount rate
Operating leases		10.3		%	8.6		%
Finance leases		9.9		%	10.1		%

Other information related to leases as of December 31, 2023 and 2022 are as follows:


(Thousands)	Year Ended December 31, 2023		Year Ended December 31, 2022
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows for finance leases	$	1,575	$	1,437
Operating cash flows for operating leases	22,326		19,874
Financing cash flows for finance leases	2,262		1,193

Non-cash items:
New operating leases and remeasurements, net	$	32,490	$	23,173
New finance leases	5,687		1,314

Future lease payments under non-cancellable leases as of December 31, 2023 are as follows:


(Thousands)	Operating Leases		Finance Leases
2024	$	19,220	$	3,709
2025	16,442		3,656
2026	12,980		3,530
2027	10,317		3,166
2028	8,672		2,467
Thereafter	96,881		9,583
Total undiscounted lease payments	$	164,512	$	26,111
Less: imputed interest	(80,108)		(8,001)
Total lease liabilities	$	84,404	$	18,110

Future sublease rentals as of December 31, 2023 are as follows:


(Thousands)	Sublease Rentals
2024	$	10,837
2025	10,961
2026	11,082
2027	11,166
2028	11,002
Thereafter	128,810
Total	$	183,858

Windstream Leases

Pursuant to the Spin-Off, Uniti entered into a long-term exclusive triple-net lease (the “Master Lease”) with Windstream, pursuant to which a substantial portion of our real property is leased to Windstream and from which a substantial portion of our leasing revenues are currently derived. In connection with Windstream’s emergence from bankruptcy, 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 $663.0 million. 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 $225 million per year in 2021, 2022 and 2023 and are limited to $225 million in 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 Growth Capital Improvement 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, 2023.

The Windstream Leases provide that 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 and when reimbursed by Uniti.

During the year ended December 31, 2023, Uniti reimbursed $250.0 million of Growth Capital Improvements, of which $35.1 million, as allowed for under the Settlement, represented the reimbursement of capital improvements completed in 2022 that were previously classified as TCIs. Subsequent to December 31, 2023, Windstream requested and we reimbursed $79.6 million of qualifying Growth Capital Improvements that were reported as TCIs as of December 31, 2023. As of the date of this Annual Report on Form 10-K, we have reimbursed a total of $873.8 million of Growth Capital Improvements.

Leases

Lessor Accounting

The components of lease income for the years ended December 31, 2023 and 2022 are as follows:


(Thousands)	Year Ended December 31, 2023		Year Ended December 31, 2022
Lease income - operating leases	$	911,828	$	892,414

Lease payments to be received under non-cancellable operating leases where we are the lessor for the remainder of the lease terms as of December 31, 2023 are as follows:


(Thousands)	December 31, 2023 (1)
2024	$	806,483
2025	816,771
2026	818,196
2027	819,134
2028	819,813
Thereafter	1,556,217
Total lease receivables	$	5,636,614
(1) Total future minimum lease payments to be received include $4.7 billion relating to the Windstream Leases.

The underlying assets under operating leases where we are the lessor as of December 31, 2023 and 2022 are summarized as follows:


(Thousands)	December 31, 2023		December 31, 2022
Land	$	26,533	$	26,549
Building and improvements	347,700		346,093
Poles	314,488		296,941
Fiber	3,862,635		3,529,835
Equipment	436		437
Copper	3,974,410		3,964,439
Conduit	90,087		89,963
Tower assets	58		1,397
Finance lease assets	1,890		28,126
Other assets	10,434		10,434
	8,628,671		8,294,214
Less: accumulated depreciation	(5,690,066)		(5,542,726)
Underlying assets under operating leases, net	$	2,938,605	$	2,751,488

Depreciation expense for the underlying assets under operating leases where we are the lessor for the years ended December 31, 2023 and 2022 is summarized as follows:


(Thousands)	Year Ended December 31, 2023		Year Ended December 31, 2022
Depreciation expense for underlying assets under operating leases	$	182,906	$	176,160

Lessee Accounting

As of December 31, 2023, we have short term lease commitments amounting to approximately $3.5 million.


(Thousands)	Year Ended December 31, 2023		Year Ended December 31, 2022
Finance lease cost
Amortization of ROU assets	$	4,066	$	3,793
Interest on lease liabilities	1,575		1,437
Total finance lease cost	5,641		5,230
Operating lease cost	22,999		19,946
Short-term lease cost	3,525		3,109
Variable lease cost	938		547
Less sublease income	(14,590)		(13,683)
Total lease cost	$	18,513	$	15,149

Amounts reported in the Consolidated Balance Sheets for leases where we are the lessee as of December 31, 2023 and 2022 were as follows:


(Thousands)	Location on Consolidated Balance Sheets	December 31, 2023			December 31, 2022
Operating leases
ROU asset, net	Operating lease right-of-use assets, net	$	125,105		$	88,545
Lease liability	Operating lease liabilities	84,404			66,356

Finance leases
ROU asset, gross	Property, plant and equipment, net	$	52,589		$	73,487
Lease liability	Finance lease obligations	18,110			15,520

Weighted-average remaining lease term
Operating leases		13.4 years			10.1 years
Finance leases		8.7 years			11.5 years

Weighted-average discount rate
Operating leases		10.3		%	8.6		%
Finance leases		9.9		%	10.1		%

Other information related to leases as of December 31, 2023 and 2022 are as follows:


(Thousands)	Year Ended December 31, 2023		Year Ended December 31, 2022
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows for finance leases	$	1,575	$	1,437
Operating cash flows for operating leases	22,326		19,874
Financing cash flows for finance leases	2,262		1,193

Non-cash items:
New operating leases and remeasurements, net	$	32,490	$	23,173
New finance leases	5,687		1,314

Future lease payments under non-cancellable leases as of December 31, 2023 are as follows:


(Thousands)	Operating Leases		Finance Leases
2024	$	19,220	$	3,709
2025	16,442		3,656
2026	12,980		3,530
2027	10,317		3,166
2028	8,672		2,467
Thereafter	96,881		9,583
Total undiscounted lease payments	$	164,512	$	26,111
Less: imputed interest	(80,108)		(8,001)
Total lease liabilities	$	84,404	$	18,110

Future sublease rentals as of December 31, 2023 are as follows:


(Thousands)	Sublease Rentals
2024	$	10,837
2025	10,961
2026	11,082
2027	11,166
2028	11,002
Thereafter	128,810
Total	$	183,858

Windstream Leases

Leases

Lessor Accounting

The components of lease income for the years ended December 31, 2023 and 2022 are as follows:


(Thousands)	Year Ended December 31, 2023		Year Ended December 31, 2022
Lease income - operating leases	$	911,828	$	892,414

Lease payments to be received under non-cancellable operating leases where we are the lessor for the remainder of the lease terms as of December 31, 2023 are as follows:


(Thousands)	December 31, 2023 (1)
2024	$	806,483
2025	816,771
2026	818,196
2027	819,134
2028	819,813
Thereafter	1,556,217
Total lease receivables	$	5,636,614
(1) Total future minimum lease payments to be received include $4.7 billion relating to the Windstream Leases.

The underlying assets under operating leases where we are the lessor as of December 31, 2023 and 2022 are summarized as follows:


(Thousands)	December 31, 2023		December 31, 2022
Land	$	26,533	$	26,549
Building and improvements	347,700		346,093
Poles	314,488		296,941
Fiber	3,862,635		3,529,835
Equipment	436		437
Copper	3,974,410		3,964,439
Conduit	90,087		89,963
Tower assets	58		1,397
Finance lease assets	1,890		28,126
Other assets	10,434		10,434
	8,628,671		8,294,214
Less: accumulated depreciation	(5,690,066)		(5,542,726)
Underlying assets under operating leases, net	$	2,938,605	$	2,751,488

Depreciation expense for the underlying assets under operating leases where we are the lessor for the years ended December 31, 2023 and 2022 is summarized as follows:


(Thousands)	Year Ended December 31, 2023		Year Ended December 31, 2022
Depreciation expense for underlying assets under operating leases	$	182,906	$	176,160

Lessee Accounting

As of December 31, 2023, we have short term lease commitments amounting to approximately $3.5 million.


(Thousands)	Year Ended December 31, 2023		Year Ended December 31, 2022
Finance lease cost
Amortization of ROU assets	$	4,066	$	3,793
Interest on lease liabilities	1,575		1,437
Total finance lease cost	5,641		5,230
Operating lease cost	22,999		19,946
Short-term lease cost	3,525		3,109
Variable lease cost	938		547
Less sublease income	(14,590)		(13,683)
Total lease cost	$	18,513	$	15,149

Amounts reported in the Consolidated Balance Sheets for leases where we are the lessee as of December 31, 2023 and 2022 were as follows:


(Thousands)	Location on Consolidated Balance Sheets	December 31, 2023			December 31, 2022
Operating leases
ROU asset, net	Operating lease right-of-use assets, net	$	125,105		$	88,545
Lease liability	Operating lease liabilities	84,404			66,356

Finance leases
ROU asset, gross	Property, plant and equipment, net	$	52,589		$	73,487
Lease liability	Finance lease obligations	18,110			15,520

Weighted-average remaining lease term
Operating leases		13.4 years			10.1 years
Finance leases		8.7 years			11.5 years

Weighted-average discount rate
Operating leases		10.3		%	8.6		%
Finance leases		9.9		%	10.1		%

Other information related to leases as of December 31, 2023 and 2022 are as follows:


(Thousands)	Year Ended December 31, 2023		Year Ended December 31, 2022
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows for finance leases	$	1,575	$	1,437
Operating cash flows for operating leases	22,326		19,874
Financing cash flows for finance leases	2,262		1,193

Non-cash items:
New operating leases and remeasurements, net	$	32,490	$	23,173
New finance leases	5,687		1,314

Future lease payments under non-cancellable leases as of December 31, 2023 are as follows:


(Thousands)	Operating Leases		Finance Leases
2024	$	19,220	$	3,709
2025	16,442		3,656
2026	12,980		3,530
2027	10,317		3,166
2028	8,672		2,467
Thereafter	96,881		9,583
Total undiscounted lease payments	$	164,512	$	26,111
Less: imputed interest	(80,108)		(8,001)
Total lease liabilities	$	84,404	$	18,110

Future sublease rentals as of December 31, 2023 are as follows:


(Thousands)	Sublease Rentals
2024	$	10,837
2025	10,961
2026	11,082
2027	11,166
2028	11,002
Thereafter	128,810
Total	$	183,858

Windstream Leases

Leases - Schedule of Underlying Assets under Operating Leases (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Lessor Lease Description [Line Items]
Underlying assets under operating leases, gross	$ 8,628,671	$ 8,294,214
Less: accumulated depreciation	(5,690,066)	(5,542,726)
Underlying assets under operating leases, net	2,938,605	2,751,488
Land
Lessor Lease Description [Line Items]
Property, plant, and equipment, lessor asset under operating lease, before accumulated depreciation	26,533	26,549
Building and improvements
Lessor Lease Description [Line Items]
Property, plant, and equipment, lessor asset under operating lease, before accumulated depreciation	347,700	346,093
Poles
Lessor Lease Description [Line Items]
Property, plant, and equipment, lessor asset under operating lease, before accumulated depreciation	314,488	296,941
Fiber
Lessor Lease Description [Line Items]
Property, plant, and equipment, lessor asset under operating lease, before accumulated depreciation	3,862,635	3,529,835
Equipment
Lessor Lease Description [Line Items]
Property, plant, and equipment, lessor asset under operating lease, before accumulated depreciation	436	437
Copper
Lessor Lease Description [Line Items]
Property, plant, and equipment, lessor asset under operating lease, before accumulated depreciation	3,974,410	3,964,439
Conduit
Lessor Lease Description [Line Items]
Property, plant, and equipment, lessor asset under operating lease, before accumulated depreciation	90,087	89,963
Tower assets
Lessor Lease Description [Line Items]
Property, plant, and equipment, lessor asset under operating lease, before accumulated depreciation	58	1,397
Finance lease assets
Lessor Lease Description [Line Items]
Finance lease assets	1,890	28,126
Other assets
Lessor Lease Description [Line Items]
Property, plant, and equipment, lessor asset under operating lease, before accumulated depreciation	$ 10,434	$ 10,434

Segment Information

12 Months Ended

Dec. 31, 2023

Segment Reporting [Abstract]

Segment Information

Our management, including our chief executive officer, who is our chief operating decision maker, managed our operations as two reportable segments, Uniti Leasing and Uniti Fiber, in addition to our corporate operations, as described below.

Uniti Leasing: Represents the operations of our leasing business, Uniti Leasing, which is engaged in the acquisition and construction of mission-critical communications assets and leasing them 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. While the Leasing segment represents our REIT operations, certain aspects of the Leasing segment are also operated through taxable REIT subsidiaries.

Uniti Fiber: 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.

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 acquisition, pursuit, transaction and integration costs (including unsuccessful acquisition pursuit 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, goodwill impairment charges, 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, 2023, 2022 and 2021:


	Year Ended December 31, 2023
(Thousands)	Uniti Leasing		Uniti Fiber		Corporate		Total of Reportable Segments
Revenues	$	852,772	$	297,059	$	—	$	1,149,831

Adjusted EBITDA	$	829,557	$	115,723	$	(21,778)	$	923,502
Less:
Interest expense, net							512,349
Depreciation and amortization	178,872		131,600		56		310,528
Other, net							20,893
Transaction related and other costs							12,611
Gain on sale of real estate							(2,164)
Goodwill impairment							203,998
Stock-based compensation							12,491
Income tax benefit							(68,474)
Adjustments for equity in earnings from unconsolidated entities							$	3,019
Net loss							(81,749)

Capital expenditures	$	277,235	$	139,767	$	—	$	417,002


	Year Ended December 31, 2022
(Thousands)	Uniti Leasing		Uniti Fiber		Corporate		Total of Reportable Segments
Revenues	$	827,457	$	301,390	$	—	$	1,128,847

Adjusted EBITDA	$	806,027	$	125,361	$	(25,492)	$	905,896
Less:
Interest expense, net							376,832
Depreciation and amortization	172,007		120,666		115		292,788
Other, net							(4,790)
Transaction related and other costs							10,340
Gain on sale of operations							(176)
Gain on sale of real estate							(433)
Goodwill impairment							240,500
Stock-based compensation							12,751
Income tax benefit							(17,365)
Adjustments for equity in earnings from unconsolidated entities							3,571
Net loss							$	(8,122)

Capital expenditures	$	263,269	$	163,962	$	336	$	427,567


	Year Ended December 31, 2021
(Thousands)	Uniti Leasing		Uniti Fiber		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 loss							$	124,745

Capital expenditures	$	223,251	$	162,463	$	141	$	385,855

Total assets by business segment as of December 31, 2023 and December 31, 2022 are as follows:


	December 31,
(Thousands)	2023		2022
Uniti Leasing	$	2,936,972	$	2,705,934
Uniti Fiber	1,956,381		2,076,136
Corporate	131,776		69,159
Total of reportable segments	$	5,025,129	$	4,851,229

- Definition

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.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-15

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org//1943274/2147482810/280-10-50-40

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-Name Accounting Standards Codification
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-URI https://asc.fasb.org//280/tableOfContent

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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-Topic 280
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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+ Details

Basis of Presentation and Consolidation - Schedule of Error Corrections and Prior Period Adjustments (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	9 Months Ended	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2023	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Condensed Consolidated Balance Sheet [Abstract]
Goodwill	$ 157,380	$ 157,380	$ 157,380	$ 361,378	$ 601,878
Deferred income tax assets, net	103,827	103,827	109,128	40,631
Total Assets	4,943,362	4,943,362	5,025,129	4,851,229
Distributions in excess of accumulated earnings	(3,703,515)	(3,703,515)	(3,708,240)	(3,483,634)
Total Uniti shareholders' deficit	(2,484,676)	(2,484,676)	(2,486,392)	(2,273,577)
Operating partnership units	2,023	2,023	2,021	2,121
Total shareholders' deficit	(2,482,403)	(2,482,403)	(2,484,121)	(2,271,206)	(2,113,774)	$ (2,072,376)
Total Liabilities and Shareholders' Deficit	4,943,362	4,943,362	5,025,129	4,851,229
Condensed Consolidated Statement of Loss and Comprehensive Loss [Abstract]
Goodwill impairment	203,998	203,998	203,998	240,500	0
(Loss) income before income taxes and equity in earnings from unconsolidated entities	(175,696)	(177,358)	(152,885)	(27,858)	117,727
Income tax benefit	(56,130)	(62,899)	(68,474)	(17,365)	(4,916)
Net (loss) income	(118,896)	(112,469)	(81,749)	(8,122)	124,745
Net (loss) income attributable to noncontrolling interests	(53)	(50)	(36)	153	1,085
Net (loss) income attributable to shareholders	(118,843)	(112,419)	(81,713)	(8,275)	123,660
Net (loss) income attributable to common shares	(119,169)	(113,324)	(82,940)	(9,430)	122,573
Comprehensive loss	(118,896)	(112,469)	(81,749)	1,121	136,062
Comprehensive (loss) income attributable to noncontrolling interest	(53)	(50)	(36)	232	1,199
Comprehensive (loss) income attributable to shareholders	$ (118,843)	$ (112,419)	$ (81,713)	$ 889	$ 134,863
Basic (in dollars per share)	$ (0.50)	$ (0.48)	$ (0.35)	$ (0.04)	$ 0.53
Diluted (in dollars per share)	$ (0.50)	$ (0.48)	$ (0.35)	$ (0.04)	$ 0.51
Supplemental Cash Flow Elements [Abstract]
Net (loss) income	$ (118,896)	$ (112,469)	$ (81,749)	$ (8,122)	$ 124,745
Deferred income taxes		(63,196)	(68,497)	(28,909)	(6,467)
Goodwill impairment	203,998	203,998	203,998	240,500	0
Net cash provided by (used in) operating activities		190,575	$ 353,129	$ 460,115	$ 499,157
As Reported
Condensed Consolidated Balance Sheet [Abstract]
Goodwill	208,378	208,378
Deferred income tax assets, net	90,792	90,792
Total Assets	4,981,325	4,981,325
Distributions in excess of accumulated earnings	(3,665,569)	(3,665,569)
Total Uniti shareholders' deficit	(2,446,730)	(2,446,730)
Operating partnership units	2,040	2,040
Total shareholders' deficit	(2,444,440)	(2,444,440)
Total Liabilities and Shareholders' Deficit	4,981,325	4,981,325
Condensed Consolidated Statement of Loss and Comprehensive Loss [Abstract]
Goodwill impairment	153,000	153,000
(Loss) income before income taxes and equity in earnings from unconsolidated entities	(124,698)	(126,360)
Income tax benefit	(43,095)	(49,864)
Net (loss) income	(80,933)	(74,506)
Net (loss) income attributable to noncontrolling interests	(36)	(33)
Net (loss) income attributable to shareholders	(80,897)	(74,473)
Net (loss) income attributable to common shares	(81,223)	(75,378)
Comprehensive loss	(80,933)	(74,506)
Comprehensive (loss) income attributable to noncontrolling interest	(36)	(33)
Comprehensive (loss) income attributable to shareholders	$ (80,897)	$ (74,473)
Basic (in dollars per share)	$ (0.34)	$ (0.32)
Diluted (in dollars per share)	$ (0.34)	$ (0.32)
Supplemental Cash Flow Elements [Abstract]
Net (loss) income	$ (80,933)	$ (74,506)
Deferred income taxes		(50,161)
Goodwill impairment	153,000	153,000
Net cash provided by (used in) operating activities		190,575
Adjustments \| Income Tax Effects of Goodwill Impairment
Condensed Consolidated Balance Sheet [Abstract]
Goodwill	(50,998)	(50,998)
Deferred income tax assets, net	13,035	13,035
Total Assets	(37,963)	(37,963)
Distributions in excess of accumulated earnings	(37,946)	(37,946)
Total Uniti shareholders' deficit	(37,946)	(37,946)
Operating partnership units	(17)	(17)
Total shareholders' deficit	(37,963)	(37,963)
Total Liabilities and Shareholders' Deficit	(37,963)	(37,963)
Condensed Consolidated Statement of Loss and Comprehensive Loss [Abstract]
Goodwill impairment	50,998	50,998
(Loss) income before income taxes and equity in earnings from unconsolidated entities	(50,998)	(50,998)
Income tax benefit	(13,035)	(13,035)
Net (loss) income	(37,963)	(37,963)
Net (loss) income attributable to noncontrolling interests	(17)	(17)
Net (loss) income attributable to shareholders	(37,946)	(37,946)
Net (loss) income attributable to common shares	(37,946)	(37,946)
Comprehensive loss	(37,963)	(37,963)
Comprehensive (loss) income attributable to noncontrolling interest	(17)	(17)
Comprehensive (loss) income attributable to shareholders	$ (37,946)	$ (37,946)
Basic (in dollars per share)	$ (0.16)	$ (0.16)
Diluted (in dollars per share)	$ (0.16)	$ (0.16)
Supplemental Cash Flow Elements [Abstract]
Net (loss) income	$ (37,963)	$ (37,963)
Deferred income taxes		(13,035)
Goodwill impairment	$ 50,998	50,998
Net cash provided by (used in) operating activities		$ 0

Earnings Per Share - Additional Information (Details) - shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
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 (in shares)	53,700,524	33,472,978
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 (in shares)	1,053,189	604,000

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended	9 Months Ended	12 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Sep. 30, 2023	Sep. 30, 2023	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Pay vs Performance Disclosure
Net (loss) income attributable to shareholders	$ (118,843)	$ (112,419)	$ (81,713)	$ (8,275)	$ 123,660

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

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+ Details

Notes and Other Debt - Credit Agreement Narrative (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($) day	Dec. 31, 2022 USD ($)
Debt Instrument [Line Items]
Principal amount	$ 5,617,442	$ 5,262,373
Windstream
Debt Instrument [Line Items]
Debt instrument, covenant, lease default period threshold \| day	90
Maximum
Debt Instrument [Line Items]
Consolidated secured leverage ratio	500.00%
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%
CSL Capital, LLC
Debt Instrument [Line Items]
Debt Instrument, debt default, amount	$ 75,000
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 \| Secured Overnight Financing Rate (SOFR)
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 \| Secured Overnight Financing Rate (SOFR)
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	3.75%
Extended Revolving Credit Facility \| CSL Capital, LLC
Debt Instrument [Line Items]
Principal amount	$ 500,000
Senior Secured Revolving Credit Facility
Debt Instrument [Line Items]
Principal amount	$ 208,000	$ 188,000
Commitment fee percentage of average amount of unused commitments	0.50%
Commitment fee step-down percentage of average amount of unused commitments	0.40%

Income Taxes - Income Tax Expense Reconciliation Between U.S. Statutory Tax Rate and Effective Tax Rate (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2023	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Income (loss) from continuing operations, before tax			$ (150,223)	$ (25,487)	$ 119,844
Income tax expense (benefit) at U.S. statutory federal rate			(31,547)	(5,352)	25,167
Increases (decreases) resulting from:
State taxes, net of federal benefit			(11,219)	(2,255)	288
Benefit of REIT status			(24,796)	(46,604)	(30,565)
Impairment of nondeductible goodwill			0	36,895	0
Return to accrual			(1,298)	(44)	193
Permanent differences			386	(5)	1
Income tax benefit	$ (56,130)	$ (62,899)	$ (68,474)	$ (17,365)	$ (4,916)

Assets and Liabilities Held for Sale (Tables)

12 Months Ended

Dec. 31, 2023

Discontinued Operations and Disposal Groups [Abstract]

Schedule of Assets and Liabilities Held for Sale


(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

The following table presents the assets and liabilities, associated with the Transaction, which were classified as held for sale as of December 31, 2023:


(Thousands)	December 31, 2023
Assets:
Property, plant and equipment, net	$	25,842
Straight-line revenue receivable	2,763
Total Assets	$	28,605

Liabilities:
Accounts payable, accrued expenses and other liabilities, net	$	67
Deferred revenue	264
Total Liabilities	$	331

- Definition

+ References

+ Details

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Dec. 31, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Commitments and Contingencies - Additional Information (Details) - SLF Holdings, LLC $ in Millions	9 Months Ended
	Dec. 31, 2022 USD ($)
Commitments And Contingencies [Line Items]
Settlement of litigation	$ 38.9
Litigation settlement, amount awarded to other party	$ 0.8

Leases - Components of Lease Cost (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Leases [Abstract]
Amortization of ROU assets	$ 4,066	$ 3,793
Interest on lease liabilities	1,575	1,437
Total finance lease cost	5,641	5,230
Operating lease cost	22,999	19,946
Short-term lease cost	3,525	3,109
Variable lease cost	938	547
Less sublease income	(14,590)	(13,683)
Total lease cost	$ 18,513	$ 15,149

Investment in Unconsolidated Entities - Additional Information (Details) - USD ($) $ in Thousands		3 Months Ended			9 Months Ended	12 Months Ended
	Jun. 21, 2022	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2022	Sep. 30, 2023	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Schedule Of Equity Method Investments [Line Items]
Proceeds from sale of unconsolidated entity						$ 0	$ 32,527	$ 0
Income tax expense (benefit)			$ (56,130)		$ (62,899)	$ (68,474)	$ (17,365)	$ (4,916)
Harmoni
Schedule Of Equity Method Investments [Line Items]
Proceeds from sale of unconsolidated entity	$ 32,500
Income tax expense (benefit)				$ 6,700
BB Fiber Holdings LLC
Schedule Of Equity Method Investments [Line Items]
Percentage of economic interest						4000000000.00%
Current investment and maximum exposure to loss result of involvement		$ 2,600				$ 2,600
Income tax expense (benefit)		$ 200
Harmoni \| Variable Interest Entity, Not Primary Beneficiary
Schedule Of Equity Method Investments [Line Items]
Gain on sale of investments				$ 7,900

Schedule III - Carrying Cost and Accumulated Depreciation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Carrying cost:
Gross amount at beginning	$ 8,066,830	$ 7,742,069
Additions during period:
Tenant capital improvements	132,622	88,822
Growth capital improvements	250,000	237,986
Acquisitions	28,244	23,426
Other	0	0
Total additions	410,866	350,234
Deductions during period:
Cost of real estate sold or disposed	25,004	25,473
Other	57,062	0
Total deductions	82,066	25,473
Balance at end	8,395,630	8,066,830	$ 7,742,069
Tenant capital improvements total	167,763	119,685	139,012
Reimbursement of growth capital improvements	35,100
Growth capital improvements	250,000	237,986
Accumulated depreciation:
Gross amount of accumulated depreciation at beginning	5,509,904	5,366,918
Additions during period:
Depreciation	175,085	167,297
Other	0	0
Total additions	175,085	167,297
Deductions during period:
Amount of accumulated depreciation for assets sold or disposed	24,587	24,311
Other	10,834	0
Total deductions	35,421	24,311
Balance at end	$ 5,649,568	$ 5,509,904	$ 5,366,918

Income Taxes - Schedule of Income Tax Expense (Benefit) (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2023	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Current
Federal			$ (753)	$ 8,782	$ (71)
State			776	2,762	1,622
Total current expense			23	11,544	1,551
Deferred
Federal			(53,188)	(22,804)	(5,066)
State			(15,309)	(6,105)	(1,401)
Total deferred benefit		$ (63,196)	(68,497)	(28,909)	(6,467)
Income tax benefit	$ (56,130)	$ (62,899)	$ (68,474)	$ (17,365)	$ (4,916)

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Summary of Significant Accounting Policies - Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Summary Of Significant Accounting Policies [Line Items]
Unrecognized tax benefit	$ 1,734	$ 1,734	$ 1,734
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
Deferred Income Taxes
Summary Of Significant Accounting Policies [Line Items]
Unrecognized tax benefit	$ 1,700

Summary of Significant Accounting Policies	12 Months Ended
Summary of Significant Accounting Policies	Dec. 31, 2023
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Use of Estimates—The preparation of financial statements, in accordance with GAAP, requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses and disclosure of contingent assets and liabilities. The estimates and assumptions used in the accompanying financial statements are based upon management’s evaluation of the relevant facts and circumstances as of the date of the financial statements. Actual results may differ from the estimates and assumptions used in preparing the accompanying financial statements, and such differences could be material. Liquidity—We anticipate continuing to invest in our network infrastructure across our Uniti Leasing and Uniti Fiber portfolios. We also anticipate declaring dividends for the 2024 tax year to comply with our REIT distribution requirements. We anticipate these expenditures will be met, as well as operating expenses (including our debt service obligations), in the near term from our cash on hand, borrowings under our Revolving Credit Facility and the new $350 million ABS Loan Facility we entered into in February 2024 and cash flows provided by operating activities. Our 2023 capital expenditures of $417.0 million and dividend payments of $107.4 million exceeded our 2023 cash flow from operating activities of $353.1 million, which led us to seek additional external sources of capital. We will closely monitor the equity and debt markets and may seek to access those markets when we deem conditions are appropriate. The amount, nature and timing of any capital markets transactions will depend on our operating performance, capital requirements, and the availability of those capital markets, all of which are subject to uncertainties. Property, Plant and Equipment—Property, plant and equipment is stated at original cost, net of accumulated depreciation. The Company capitalizes costs incurred in bringing property, plant and equipment to an operational state, including all activities directly associated with the acquisition, construction, and installation of the related assets it owns. The Company capitalizes a portion of the interest costs it incurs for assets that require a period of time to get them ready for their intended use. The amount of interest that is capitalized is based on the average accumulated expenditures made during the period involved in bringing the assets comprising a network to an operational state at the Company’s weighted average interest rate during the respective accounting period. The Company also enters into leasing arrangements providing for the long‑term use of constructed fiber that is then integrated into the Company’s network infrastructure. For each lease that qualifies as a finance lease, the present value of the lease payments, which may include both periodic lease payments over the term of the lease as well as upfront payments to the lessor, is capitalized at the inception of the lease and included in property and equipment. As of December 31, 2023 and 2022, the accumulated amortization of our finance lease assets was $20.4 million and $22.2 million, respectively. On April 24, 2015, we were separated and spun-off (the “Spin-Off”) from Windstream Holdings, Inc. (“Windstream Holdings” and together with Windstream Holdings II, LLC, its successor in interest, and its subsidiaries, “Windstream”) pursuant to which Windstream contributed certain telecommunications network assets, including fiber and copper networks and other real estate (the “Distribution Systems”) to Uniti. Certain property, plant and equipment acquired as part of our Spin-Off is depreciated using a group composite depreciation method. Under this method, when property is retired, the original cost, net of salvage value, is charged against accumulated depreciation and no immediate gain or loss is recognized on the disposition of the property. For all other property, which includes amortization of finance lease assets, depreciation is computed using the straight-line method over the estimated useful life of the respective property. When the property is retired or otherwise disposed of, the related cost and accumulated depreciation are written-off, with the corresponding gain or loss reflected in operating results. Construction in progress includes direct materials and labor related to fixed assets during the construction period. Depreciation begins once the construction period has ceased and the related asset is placed into service, and the asset will be depreciated over its useful life. Costs of maintenance and repairs to property, plant and equipment subject to triple-net leasing arrangements are the responsibility of our tenant. Costs of maintenance and repairs to property, plant and equipment not subject to triple-net leasing arrangements are expensed as incurred. Tenant Capital Improvements—The leases with Windstream (as discussed below) provide that tenant funded capital improvements (“TCIs”), defined as maintenance, repair, overbuild, upgrade or replacements to the leased network, 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 the TCIs as they automatically become our property, and we recognize the cost basis of TCIs that are capital in nature as property, plant and equipment and deferred revenue. We depreciate the property, plant and equipment over their estimated useful lives and amortize the deferred revenue as additional leasing revenues over the same depreciable life of the TCI assets. At December 31, 2023 and 2022, the net book value of TCIs recorded as a component of property, plant and equipment on our Consolidated Balance Sheets was $970.1 million and $884.4 million, respectively. For the years ended December 31, 2023, 2022 and 2021, we recognized $47.0 million, $43.2 million, and $39.0 million of revenue and depreciation expense related to TCIs, respectively. Impairment of Long-Lived Assets—We review long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of the asset group may not be recoverable from future undiscounted net cash flows we expect the asset group to generate. If the asset group is not fully recoverable, an impairment loss would be recognized for the difference between the carrying value of the asset group and its estimated fair value based on discounted net future cash flows. Assets held for sale, if any, are reported at the lower of the carrying amount or fair value less cost to sell. Assets held for sale are no longer depreciated once held for sale criteria are met. During the years ended December 31, 2023, 2022 and 2021, there were no events or changes in circumstances indicating that the carrying amount of any of our assets groups was not recoverable from future undiscounted net cash flows we expect the asset groups to generate, and no impairment losses were recognized. Asset Retirement Obligations—The Company records obligations to perform asset retirement activities, primarily including requirements to remove equipment from leased space or customer sites as required under the terms of the related lease and customer agreements. The fair value of the liability for asset retirement obligations, which represents the net present value of the estimated expected future cash outlay, is recognized in the period in which it is incurred and the fair value of the liability can reasonably be estimated. The liability accretes as a result of the passage of time and related accretion expense is recognized in the Consolidated Statements of (Loss) Income. The associated asset retirement costs are capitalized as an additional carrying amount of the related long‑lived asset and depreciated on a straight-line basis over the asset’s useful life. As of December 31, 2023 and 2022, our aggregate carrying amount of asset retirement obligations totaled $16.8 million and $13.3 million, respectively. During the year ended December 31, 2023, we incurred $6.5 million in liabilities related to asset retirement obligations and in the year ended December 31, 2022, we incurred no liabilities related to asset retirement obligations. During the years ended December 31, 2023, 2022, and 2021, we recognized $2.8 million, $1.7 million, and $1.5 million of accretion expense related to asset retirement obligations, respectively, included in depreciation and amortization expense in our Consolidated Statements of (Loss) Income. Cash and Cash Equivalents—Cash and cash equivalents include all non-restricted cash held at financial institutions and other non-restricted highly liquid short-term investments with original maturities of three months or less. Derivative Instruments and Hedging Activities—We account for our derivatives in accordance with FASB ASC 815, Derivatives and Hedging ("ASC 815"), in which we reflect all derivative instruments at fair value as either assets or liabilities on our Consolidated Balance Sheets. For derivative instruments that are designated and qualify as hedging instruments, we record the effective portion of the gain or loss on the hedged instruments as a component of accumulated other comprehensive income or loss. Any ineffective portion of a derivative’s change in fair value is immediately recognized within net income. For derivatives that do not meet the criteria for hedge accounting, changes in fair value are immediately recognized within net income. Exchangeable Notes and Related Transactions—On June 28, 2019, Uniti Fiber Holdings Inc., a subsidiary of the Company, issued $345 million aggregate principal amount of 4.00% Exchangeable Senior Notes due June 15, 2024 (the “Exchangeable 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. In accordance with ASC 470-20, Debt – Debt with Conversion and Other Options ("ASC 470"), because the conversion feature in the Exchangeable Notes is not bifurcated pursuant to ASC 815 and because the conversion can be settled in cash, shares, or a combination thereof, the Exchangeable Notes were separated into a liability component and an equity component in a manner that reflects Uniti Fiber Holdings Inc.’s non-convertible debt borrowing rate. The carrying amount of the liability component was calculated by measuring the fair value of a similar liability that does not have an associated conversion feature. See Note 13. The Company adopted ASU No. 2020-06, Debt - Debt with Conversion and Other Options (Subtopic 470- 20) and Derivatives and Hedging - Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity (“ASU 2020-06”) on January 1, 2021. ASU 2020-06 (1) simplifies the accounting for convertible debt instruments and convertible preferred stock by removing the existing guidance in ASC 470-20 that requires entities to account for beneficial conversion features and cash conversion features in equity, separately from the host convertible debt or preferred stock; (2) revises the scope exception from derivative accounting in ASC 815-40 for freestanding financial instruments and embedded features that are both indexed to the issuer’s own stock and classified in stockholders’ equity, by removing certain criteria required for equity classification; and (3) revises the guidance in ASC 260, Earnings Per Share, to require entities to calculate diluted earnings per share (“EPS”) for convertible instruments by using the if-converted method. In addition, entities must presume share settlement for purposes of calculating diluted EPS when an instrument may be settled in cash or shares. 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. In connection with the offering of the Exchangeable Notes, Uniti Fiber Holdings Inc. entered into exchangeable note hedge transactions with respect to the Company’s common stock (the “Note Hedge Transactions”) with certain of the initial purchasers or their respective affiliates (collectively, the “Counterparties”). In addition, the Company entered into warrant transactions to sell to the Counterparties warrants (the “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 $16.42 per share. The warrant transactions may have a dilutive effect with respect to the Company’s common stock to the extent the market price per share of the Company’s common stock exceeds the strike price of the Warrants. While the Note Hedge Transactions and the Warrants each meet the definition of a derivative in ASC 815-10-15-83, they each meet the equity scope exception specified in ASC 815-10-15-74(a); as such, the Warrants and the Note Hedge Transactions are not accounted for as derivatives that must be remeasured each reporting period and instead, are recorded in stockholders’ deficit. See Note 13. On December 12, 2022, in connection with the issuance of the Convertible 2027 Notes (See Note 13), approximately $207.1 million aggregate principal amount of the Exchangeable Notes was repurchased for $194.0 million. Additionally, on March 21, 2023, the Company repurchased approximately $15.0 million of the Exchangeable Notes for total cash consideration of $13.7 million. On December 7, 2022, in connection with the Company’s repurchase of the Exchangeable Notes, the Company entered into partial unwind agreements (the “Unwind Agreements”) with the Counterparties to unwind a portion of the Note Hedge Transactions and the Warrants described above (collectively, the “Unwind Transactions”). In connection with the Unwind Transactions, the Company received cash as a termination payment for of the portion of the Note Hedge Transactions that were unwound, and the Company delivered cash as a termination payment in respect of the portion of the Warrants that were unwound. The amount of cash that was received, which was approximately $1.2 million, and the amount of cash that was delivered to the Counterparties, which was approximately $0.5 million, were based generally on the termination values of the unwound portions of such instruments. See N o t e 1 1 and Note 13. Intangible Assets—Intangible assets are presented in the financial statements at cost less accumulated amortization and are amortized using the straight-line method over their estimated useful lives. Transaction Related and Other Costs—The Company expenses non-capitalizable transaction related and other costs in the period in which they are incurred and services are received. Transaction related costs include acquisition pursuit, transaction and integration costs, including unsuccessful acquisition pursuit costs. Pursuit and transaction costs include professional services (legal, accounting, advisory, regulatory, etc.), finder’s fees, travel expenses, and other direct expenses associated with a business acquisition. Integration costs include direct costs necessary to integrate an acquired business, including professional services, systems and data conversion, severance and retention bonuses payable to employees of an acquired business. In addition, other costs, such as costs incurred as a result of Windstream’s bankruptcy filing, costs associated with Windstream’s claims against us (see Note 17), and costs associated with the implementation of our enterprise resource planning system are included within this line item on the Consolidated Statements of (Loss) Income. Settlement Payable—On July 25, 2019, in connection with Windstream’s bankruptcy, Windstream filed a complaint with the Bankruptcy Court against Uniti and certain of its affiliates, alleging, among other things, that the Master Lease (as defined in Note 5) 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. In connection with Windstream’s emergence from bankruptcy on September 21, 2020, Uniti entered into several agreements and consummated several transactions, including a stock transaction closed on September 18, 2020 in which we issued 38,633,470 shares of Uniti common stock to certain first lien creditors of Windstream and transferred the proceeds to Windstream and an asset transaction closed on September 18, 2020, in which we paid to Windstream approximately $284.6 million in exchange for certain fiber assets and dark fiber dark fiber indefeasible rights of use related thereto, to implement its settlement (the “Settlement”) with Windstream pursuant to 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 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 settlement agreement. The stipulation and order was entered by the bankruptcy court on January 25, 2021. In accordance with the Settlement, we also have a number of ongoing obligations including the following: i.we are obligated to make $490.1 million of cash payments to Windstream in equal installments over 20 consecutive quarters beginning in October 2020, and we may prepay any installments due on or after the first anniversary of the settlement agreement (discounted at a 9% rate). As of December 31, 2023, the Company has made payments totaling $313.4 million; and ii.we are obligated to reimburse Windstream for Growth Capital Improvements as described in Note 5. Debt Issuance Costs—The Company recognizes debt issuance costs related to a recognized debt liability as a direct deduction from the carrying amount of the debt liability, consistent with debt discounts. The costs, which include underwriting, legal, and other direct costs related to the issuance of debt, are amortized over the contractual term of the debt using the effective interest method. Revenue Recognition— The following is a description of principal activities, separated by reportable segments (see Note 16), from which the Company generates its revenues. We exclude from the transaction price any amounts collected from customers for sales taxes and therefore, they are not included in revenue. Uniti Leasing Uniti Leasing revenue represents the results from our Uniti Leasing segment, which is engaged in the acquisition and construction of mission-critical communications assets and leasing them to anchor customers on either an exclusive or shared-tenant basis. See discussion in “Leases” in this Note 3 and Note 5. The Windstream Leases (as defined in Note 5) are long-term exclusive triple-net leases, whereby Windstream is responsible for the costs related to operating the Distribution Systems, including property taxes, insurance and maintenance and repair costs. As a result, we do not record an obligation related to the payment of property taxes or insurance, as Windstream makes direct payments to the taxing authorities and insurance carriers, respectively. Uniti Fiber The Uniti Fiber segment represents the operations of our fiber business, Uniti Fiber, which provides: i.Consumer, enterprise, wholesale, and backhaul lit fiber revenue is recognized over the life of the contracts in a pattern that reflects the satisfaction of Uniti’s stand-ready obligation to provide lit fiber services. The transaction price is equal to the monthly-recurring charge multiplied by the contract term, plus any non-recurring or variable charges. For each contract, the customer is invoiced monthly. ii.E-Rate contracts involve providing lit fiber services to schools and libraries, and revenue is recognized over the life of the contract in a pattern that reflects the satisfaction of Uniti’s stand-ready obligation to provide lit fiber services. The transaction price is equal to the monthly-recurring charge multiplied by the contract term, plus any non-recurring or variable charges. For each contract, the customer is invoiced monthly. iii.Construction revenue is generated from contracts to provide various construction services such as equipment installation or the laying of fiber. Construction revenue is recognized over time as construction activities occur as we are either enhancing a customer’s owned asset or constructing an asset with no alternative use to us and we would be entitled to our costs plus a reasonable profit margin if the contract was terminated early by the customer. We are utilizing our costs incurred as the measure of progress of satisfying our performance obligation. iv.Dark fiber and small cell arrangements represent operating leases and revenue is recognized under the leasing guidance. When (i) a customer makes an advance payment or (ii) a customer is contractually obligated to pay any amounts in advance, which is not deemed a separate performance obligation, deferred leasing revenue is recorded. This leasing revenue is recognized ratably over the expected term of the contract, unless the pattern of service suggests otherwise. v.The Company generates revenues from other services, such as consultation services and equipment sales. Revenue from the sale of customer premise equipment and modems that are not provided as an essential part of the telecommunications services, including broadband, long distance, and enhanced services is recognized when products are delivered to and accepted by the customer. Revenue from customer premise equipment and modems provided as an essential part of the telecommunications services, including broadband, long distance, and enhanced services are recognized over time in a pattern that reflects the satisfaction of the service performance obligation. Commissions – Under Topic 606 and Topic 340, Other Assets and Deferred Costs, we capitalize commission fees as costs of obtaining a contract when those commissions are incremental and expected to be recovered from the revenue contract and we amortize those capitalized costs consistent with the pattern of transfer of the product or service to which the capitalized costs relate. The amortization of these costs are included in general and administrative expense on the Consolidated Statements of (Loss) Income. We are exposed to credit losses primarily through our trade receivables. We assess ability to pay for certain customers by considering a variety of factors, such as the customer’s established credit rating, if available, and our assessment of creditworthiness. We determine the allowance for credit losses on accounts receivable using a combination of specific reserves for accounts that are deemed to exhibit credit loss indicators and general reserves that are determined using loss rates based on historical experience and economic expectations. We update our estimate of credit loss reserves quarterly, considering recent write-offs, collections information and underlying economic expectations. The allowance for credit losses is recorded in accounts receivable, net on our Consolidated Balance Sheets. At December 31, 2023 and 2022, our allowance for credit losses was $3.2 million and $2.9 million, respectively. Credit losses for the years ended December 31, 2023, 2022 and 2021 were $1.2 million, $0.6 million and $1.5 million, respectively. Straight-Line Revenue Receivable—We evaluate the collectability of our straight-line revenue receivables in accordance with the provisions of ASC 842, where if the collectability of lease payments is not probable at the commencement date, or at any time during the lease term, then we limit the lease revenue to the lesser of the revenue recognized on a straight-line basis or cash basis. If our assessment of collectability changes after the commencement date, we record the difference between the lease revenue that would have been recognized on a straight-line basis and cash basis as a current period adjustment to lease revenue. Leases—We determine if an arrangement is a lease at contract inception. A lease exists when a contract conveys the right to control the use of identified property, plant, or equipment for a period of time in exchange for consideration. As a lessee, we enter into lease contracts including ground, tower, equipment, building, automobile, colocation and fiber lease arrangements, and service contracts that may include embedded leases. When we are the lessee, we classify leases as either finance or operating leases based on the principle of whether or not the lease is effectively a financed purchase. This classification will determine whether lease expense is comprised of amortization on the right-of-use (“ROU”) asset and interest expense recognized based on an effective interest method (a finance lease) or as a single lease cost recognized on a straight-line basis over the term of the lease (an operating lease). We recognize an ROU asset and a lease liability for all leases with a term of greater than 12 months regardless of classification. We recognize the lease payments associated with our short-term leases, which have lease terms less than 12 months, as an expense on a straight-line basis over the lease term. ROU assets and lease liabilities related to operating leases where we are the lessee are separately stated on our Consolidated Balance Sheets. The ROU asset is initially measured as the initial amount of the lease liability adjusted for lease payments made at or before the lease commencement date, plus any initial direct costs incurred less, any lease incentives received. The ROU asset is subsequently measured throughout the lease term at the carrying amount of the lease liability, plus initial direct costs, plus (minus) any prepaid (accrued) lease payments, less the unamortized balance of lease incentives received. The lease liabilities are initially and subsequently measured at the present value of the unpaid lease payments. Lease expense for lease payments is recognized on a straight-line basis over the lease term. ROU assets and lease liabilities related to finance leases where we are the lessee are included in property, plant and equipment, net and finance lease obligations, respectively, on our Consolidated Balance Sheets. The ROU asset is initially measured as the initial amount of the lease liability adjusted for lease payments made at or before the lease commencement date, plus any initial direct costs incurred less, any lease incentives received. The ROU asset is subsequently amortized using the straight-line method from the lease commencement date to the earlier of the end of its useful life or the end of the lease term unless the lease transfers ownership of the underlying asset to us, or we are reasonably certain to exercise an option to purchase the underlying asset. In those cases, the ROU asset is amortized over the useful life of the underlying asset. The lease liabilities are initially measured in the same manner as operating leases and are subsequently measured at amortized cost using the effective interest method. Amortization of the finance lease assets is recognized and presented separately from interest expense on the lease liability, as part of depreciation and amortization expense on the Consolidated Statements of (Loss) Income. We have lease agreements which include lease and nonlease components. For leases where we are a lessee, we have elected to combine lease and nonlease components for all lease contracts. For leases where we are the lessor, we combine the lease and non-lease components when the components qualify to be combined and we account for the combined arrangement based on whether the lease or non-lease component is predominant. Maintenance services are the primary nonlease components and the combined components typically are treated as leases for revenue recognition purposes. We have elected to exclude sales taxes from lease payments in arrangements where we are a lessor. Operating leases where we are the lessor are included in Uniti Leasing and Unit Fiber revenues on our Consolidated Statements of (Loss) Income. For operating leases where we are the lessor, we continue recognizing the underlying asset and depreciating it over its estimated useful life. Lease income is recognized on a straight-line basis over the lease term. Leasing revenue is not recognized when collection of all contractual rents over the term of the agreement is not probable. When collection is not probable, we limit the lease revenue to the lesser of the revenue recognized on a straight-line basis or cash basis. From time to time we may enter into sales-type lease arrangements as a lessor that may include (i) a lessee obligation to purchase the leased equipment at the end of the lease term, (ii) a bargain purchase option, (iii) a lease term having a duration that is for the major part of the remaining economic life of the leased equipment or (iv) provides for minimum lease payments with a present value amounting to substantially all of the fair value of the leased asset at the date of lease commencement. Variable lease payments associated with our leases are recognized when the event, activity, or circumstance in the lease agreement on which those payments are assessed occurs. Variable lease payments are presented within Uniti Leasing and Unit Fiber revenues and general and administrative expense and operating expense in our Consolidated Statements of (Loss) Income in the same line item as revenue arising from fixed lease payments (operating leases where we are the lessor) and expense arising from fixed lease payments (operating leases where we are the lessee) or amortization of the ROU asset (finance leases), respectively. We monitor for events or changes in circumstances that require a reassessment of a lease. When a reassessment results in the remeasurement of a lease liability, a corresponding adjustment is made to the carrying amount of the corresponding ROU asset unless doing so would reduce the carrying amount of the ROU asset to an amount less than zero. In that case, the amount of the adjustment that would result in a negative ROU asset balance is recorded in general and administrative and operating expense in our Consolidated Statements of (Loss) Income. Key lease 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. i.ASC 842 requires a lessor to discount its unpaid lease payments using the interest rate implicit in the lease and a lessee to discount its unpaid lease payments using the interest rate implicit in the lease or, if that rate cannot be readily determined, its incremental borrowing rate. As we generally do not know the implicit rate for our leases where we are the lessee, we use our incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. Our incremental borrowing rate for a lease is the rate of interest we would have to pay on a collateralized basis to borrow an amount equal to the lease payments under similar terms. ii.The lease term for all of our leases includes the noncancellable period of the lease plus any additional periods covered by either a lessee option to extend (or not to terminate) the lease that the lessee is reasonably certain to exercise, or an option to extend (or not to terminate) the lease controlled by the lessor. iii.Lease payments included in the measurement of the lease asset or liability comprise the following: (i) fixed payments (including in-substance fixed payments), (ii) variable payments that depend on index or rate based on the index or rate at lease commencement, and (iii) the exercise price of a lessee option to purchase the underlying asset if the lessee is reasonably certain to exercise. Stock-Based Compensation—We account for stock-based compensation using the fair value method of accounting. We have determined that our stock-based payment awards granted in exchange for employee services qualify as equity classified awards, which are measured based on the fair value of the award on the date of the grant. The fair value of restricted stock-based payments is based on the market value of our common stock on the date of grant. The fair value of performance-based awards, which have performance conditions, is based on a Monte Carlo simulation. The fair value of all stock-based compensation is recognized over the period during which an employee is required to provide services in exchange for the award. See Note 14. Income Taxes—We elected on our initial U.S. federal income tax return to be treated as a REIT under the Internal Revenue Code of 1986, as amended (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, we will be subject to U.S. federal income tax 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 may be required to record a provision in our Consolidated Financial Statements for U.S. federal income taxes related to the activities of the REIT and its passthrough subsidiaries for any undistributed income. We are subject to the statutory requirements of the locations in which we conduct business, and state and local income taxes are accrued as deemed required in the best judgment of management based on analysis and interpretation of respective tax laws. We have elected to treat the subsidiaries through which we operate Uniti Fiber and certain subsidiaries of Uniti Leasing as taxable REIT subsidiaries (“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. Deferred tax assets and liabilities are recognized under the asset and liability method 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. Deferred tax balances are adjusted to reflect tax rates based on currently enacted tax laws, which will be in effect in the years in which the temporary differences are expected to reverse. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the results of operations in the period of the enactment date. A valuation allowance is recorded to reduce the carrying amounts of deferred tax assets unless it is more likely than not that such assets will be realized. 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. If applicable, we will report tax-related penalties and interest expense as a component of income tax expense. We currently have unrecognized tax benefits of $1.7 million recorded in deferred income taxes on our Consolidated Balance Sheet. The Company may be subject to state corporate level tax in a certain limited number of states on any built-in gain recognized from a sale of assets occurring within a ten-year recognition period after the Spin-Off. The five-year 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—In accordance with ASC 805, Business Combinations, we apply the acquisition method of accounting for acquisitions meeting the definition of a business combination or asset acquisition, where assets acquired and liabilities assumed are recorded at fair value at the date of each acquisition, and the results of operations are included with those of the Company from the dates of the respective acquisitions. The fair value of the acquired assets and liabilities are estimated using the income, market and/or cost approach. The income approach utilizes the present value of estimated future cash flows that a business or asset can be expected to generate, while under the market approach, the fair value of an asset or business reflects the price at which comparable assets are purchased under similar circumstances. Inherent in our preparation of cash flow projections are significant assumptions and estimates derived from a review of operating results, business plans, expected growth rates, capital expenditure plans, cost of capital and tax rates. We also make certain forecasts about future economic conditions, interest rates and other market data. Many of the factors used in assessing fair value are outside the control of management. Small changes in these assumptions or estimates could materially affect the cash flow projections, and therefore could affect the estimated fair value. Impacts of these assumptions or estimates include customer retention, execution of our business plans, which impact growth, cost escalation impacting margin, the level of capital expenditures required to sustain our growth and market factors, including interest rate and stock price fluctuations, impacting our cost of capital. For acquisitions meeting the definition of a business combination, any excess of the purchase price paid by the Company over the amounts recognized for assets acquired and liabilities assumed is recorded as goodwill. ASC 805 also requires acquirers to, among other things, estimate the acquisition date fair value of any contingent consideration and recognize any subsequent changes in the fair value of contingent consideration in earnings. When provisional amounts are initially recorded, the Company continues to evaluate acquisitions for a period not to exceed one year after the applicable acquisition date of each transaction to determine whether any additional adjustments are needed to the allocation of the purchase price paid for the assets acquired and liabilities assumed. For acquisitions meeting the definition of an asset acquisition, the fair value of the consideration transferred, including transaction costs, is allocated to the assets acquired and liabilities assumed based on their relative fair values. There are significant judgments and estimates used in determining the fair values of the assets acquired and liabilities assumed, which include assumptions with respect to items such as replacement cost, land value, assemblage factor, discount rate, lease-up period, implied rents per strand mile, and useful life. No goodwill is recognized in an asset acquisition. Noncontrolling Interest—The limited partner equity interests in our operating partnership are exchangeable on a one-for-one basis for shares of our common stock or, at our election, cash of equivalent value. All of the limited partner equity interests in our operating partnership not held by the Company are reflected as noncontrolling interests. In the Consolidated Statements of (Loss) Income, we allocate net income (loss) attributable to noncontrolling interests to arrive at net (loss) income attributable to shareholders based on their proportionate share. For transactions that result in changes to the Company's ownership interest in our operating partnership, the carrying amount of noncontrolling interests is adjusted to reflect such changes. The difference between the fair value of the consideration received or paid and the amount by which the noncontrolling interest is adjusted is reflected as an adjustment to additional paid-in capital on the Consolidated Balance Sheets. Investments in Unconsolidated Entities—We report our investments in unconsolidated entities under the equity method of accounting. We adjust our investments in unconsolidated entities for additional contributions made, distributions received as well as our share of the investees’ earnings or losses, which are reported on a 30-day lag for the investment in BB Fiber Holdings LLC (“Fiber Holdings”) and on a 90-day lag for the investment in Harmoni Towers LP (“Harmoni”), and are included in equity in earnings from unconsolidated entities in our Consolidated Statements of (Loss) Income. See Note 8. Goodwill—As of December 31, 2023, and 2022, all of our goodwill is included in our Uniti Fiber segment. Goodwill is recognized for the excess of purchase price over the fair value of net assets of businesses acquired. Goodwill is reviewed for impairment on an annual basis. Our annual impairment test is performed with a valuation date of October 1. In accordance with ASC 350-20, Intangibles-Goodwill and Other ("ASC 350-20"), we evaluate goodwill for impairment between annual impairment tests if an event occurs or circumstances change that would more likely than not reduce the fair value of a reporting unit below its carrying amount (a “Triggering Event”). On the occurrence of a Triggering Event, an entity has the option to first assess qualitative factors to determine whether a quantitative impairment test is necessary. If it is more likely than not that goodwill is impaired, the fair value of the reporting unit must be compared with its carrying value. Unless circumstances otherwise dictate, the annual impairment test is performed in the fourth quarter. Application of the goodwill impairment test requires significant judgment, including: the identification of reporting units; assignment of assets and liabilities to reporting units; assignment of goodwill to reporting units; and the estimation of the fair value of a reporting unit. During the third quarter of 2023, the Company identified a Triggering Event under ASC 350-20 and, therefore, performed a qualitative and quantitative goodwill impairment test with a valuation date of September 30, 2023. The Triggering Event was a result of macroeconomic and financial market factors, specifically increased interest rates impacting our discount rate. As a result, we concluded that the fair value of the Uniti Fiber reporting unit, estimated using a combination of the income approach and market approach, was less than its carrying amount. Accordingly, we recorded a $204.0 million goodwill impairment charge in the Uniti Fiber reporting unit. During the third quarter of 2022, the Company identified a Triggering Event under ASC 350-20 and, therefore, performed a qualitative and quantitative goodwill impairment test with a valuation date of September 30, 2022. The Triggering Event was a result of macroeconomic and financial market factors, specifically increased interest rates impacting our discount rate. As a result, we concluded that the fair value of the Uniti Fiber reporting unit, estimated using a combination of the income approach and market approach, was less than its carrying amount. Accordingly, we recorded a $216.0 million goodwill impairment charge in the Uniti Fiber reporting unit. During the fourth quarter of 2022, we performed an additional quantitative and qualitative impairment test, and concluded that as a result of the continuing macroeconomic and financial market factors, specifically increased interest rates impacting our discount rate, the fair value of the Uniti Fiber reporting unit was less than its carrying amount. As a result, we recorded an additional $24.5 million goodwill impairment charge in the Uniti Fiber reporting unit. During the year ended December 31, 2021, no impairment losses were recognized. We estimate the fair value of our reporting units (which are our segments) using a combination of an income approach based on the present value of estimated future cash flows and a market approach based on market data of comparable businesses and acquisition multiples paid in recent transactions. We evaluate the appropriateness of each valuation methodology in determining the weighting applied to each methodology in the determination of the concluded fair value. If the carrying amount of a reporting unit's net assets is less than its fair value, no impairment exists. If the carrying amount of the reporting unit is greater than the fair value of the reporting unit, an impairment loss must be recognized for the excess and recorded in the Consolidated Statements of (Loss) Income not to exceed the carrying amount of goodwill. Inherent in our preparation of cash flow projections are significant assumptions and estimates derived from a review of our operating results and business plans, which includes expected revenue and expense growth rates, capital expenditure plans and cost of capital. In determining these assumptions, we consider our ability to execute on our plans, future economic conditions, interest rates and other market data. Many of the factors used in assessing fair value are outside the control of management, and these assumptions and estimates may change in future periods. Small changes in these assumptions or estimates could materially affect our cash flow projections, and therefore could affect the likelihood and amount of potential impairment in future periods. Potential events that could negatively impact these assumptions or estimates may include customer losses or poor execution of our business plans, which impact revenue growth, cost escalation impacting margin, the level of capital expenditures required to sustain our growth and market factors, including stock price fluctuations and increased rates, impacting our cost of capital. For example, if we were to experience a significant delay in our permitting process in the construction of our fiber networks, the timing of effected cash flows could impact long term growth rates and negatively impact the income approach, leading to potential impairment. As a result, should our expectations of average projected revenue growth percentage, average projected EBITDA margin percentage and/or average projected capital expenditures as a percentage of revenue change, we may experience future impairment to goodwill (while other assumptions remain constant). Furthermore, a deterioration in market factors such as stock prices or increased interest rates and/or declines in acquisition multiples utilized in the market approach could affect the likelihood and amount of potential impairment. Earnings per Share—Outstanding restricted stock awards that contain rights to non-forfeitable dividends are deemed to be participating securities, requiring the application of the two-class method of computing basic and dilutive earnings per share. Basic earnings per share includes only the weighted average number of common shares outstanding during the period. Dilutive earnings per share includes the weighted average number of common shares and the dilutive effect of restricted stock, performance-based awards outstanding during the period, the Convertible 2027 Notes and the Exchangeable Notes, when such awards are dilutive. See Note 15. Concentration of Credit Risks—Revenue under the Windstream Leases provided 67.3% of our revenue for the year ended December 31, 2023, 66.5% of our revenue for the year ended December 31, 2022, and 66.4% of our revenue for the year ended December 31, 2021. Because a substantial portion of our revenue and cash flows are derived from lease payments by Windstream pursuant to the Windstream Leases, there could be a material adverse impact on our consolidated results of operations, liquidity, financial condition and/or ability to pay dividends and service debt if Windstream were to default under the Windstream Leases or otherwise experiences operating or liquidity difficulties and becomes unable to generate sufficient cash to make payments to us. Prior to its emergence from bankruptcy on September 21, 2020, Windstream was a publicly traded company subject to the periodic filing requirements of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). Windstream historic filings through their quarter ended June 30, 2020 can be found at www.sec.gov. On September 22, 2020, Windstream filed a Form 15 to terminate all filing obligations under Sections 12(g) and 15(d) under the Exchange Act. Windstream’s filings are not incorporated by reference in this Annual Report on Form 10-K. We monitor the credit quality of Windstream through numerous methods, including by (i) reviewing credit ratings of Windstream by nationally recognized credit agencies, (ii) reviewing the financial statements of Windstream that are required to be delivered to us pursuant to the Windstream Leases, (iii) monitoring new reports regarding Windstream and its business, (iv) conducting research to ascertain industry trends potentially affecting Windstream, (v) monitoring Windstream’s compliance with the terms of the Windstream Leases and (vi) monitoring the timeliness of its payments under the Windstream Leases. As of the date of this Annual Report on Form 10-K, Windstream is current on all lease payments. We note that in August 2020, Moody’s Investor Service assigned a B3 corporate family rating with a stable outlook to Windstream in connection with its post-emergence exit financing. At the same time, S&P Global Ratings assigned Windstream a B- issuer rating with a stable outlook. These ratings were both upgrades from Windstream’s pre-bankruptcy ratings. Both ratings remain current as of the date of this filing. In order to assist us in our continuing assessment of Windstream’s creditworthiness, we periodically receive certain confidential financial information and metrics from Windstream. Reclassifications—Certain prior year asset and liability categories and related amounts have been reclassified to conform with current year presentation. Operating lease right of use assets, net and operating lease liabilities are now presented separately on our Consolidated Balance Sheets. Recently Adopted Accounting Pronouncements In March 2022, the FASB issued Accounting Standards Update ("ASU") 2022-02, Financial Instruments—Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures ("ASU 2022-02"), which eliminates the accounting guidance for troubled debt restructurings and requires the disclosure of current-period gross write-offs of financing receivables and net investment in leases by year of origination. The Company adopted ASU 2022-02 on January 1, 2023, and the adoption had no impact on the Company's consolidated financial statements. In December 2022, the FASB issued ASU 2022-06, Reference Rate Reform (Topic 848): Deferral of the Sunset Date of Topic 848 ("ASU 2022-06"), which provides additional relief for contract modifications completed after the December 31, 2022 LIBOR sunset date. The amendment allows for a deferral until December 31, 2024. The Company adopted ASU 2022-06 at issuance, and the adoption had no impact on the Company's consolidated financial statements. Recently Issued Accounting Pronouncements Not Yet Adopted In November 2023, the FASB issued ASU 2023-07, Segment Reporting—Improvements to Reportable Segment Disclosures ("ASU 2023-07"), which requires incremental disclosures related to reportable segments. Specifically, the ASU requires disclosure of significant segment expense categories and amounts for each reportable segment. The ASU is effective for fiscal years beginning after December 15, 2023, and interim periods in fiscal years beginning after December 15, 2024, with early adoption permitted. The Company is currently evaluating this guidance to determine the impact it will have on our financial statements.

Stock-Based Compensation - Additional Information (Details)		12 Months Ended
	Feb. 23, 2022 USD ($) shares	Dec. 31, 2023 USD ($) plan $ / shares shares	Dec. 31, 2022 USD ($) $ / shares shares	Dec. 31, 2021 USD ($) $ / shares shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares available for future issuance (in shares)		263,441,399
Compensation expense recognized during the period \| $		$ 12,500,000	$ 12,800,000	$ 13,800,000
Restricted Awards
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares granted (in shares)		1,505,876	925,059	691,241
Fair value of shares granted \| $		$ 8,700,000
Awards vesting period		3 years
Shares available for future issuance (in shares)		8,636,162
Weighted-average fair value \| $ / shares		$ 5.78	$ 9.52	$ 11.82
Total fair value of shares vesting \| $		$ 7,700,000	$ 9,100,000	$ 9,900,000
Unrecognized compensation expense \| $		$ 9,000,000
Weighted average vesting period		1 year
Number of shares forfeited (in shares)		66,088
Performance Awards
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares granted (in shares)	449,614	449,614	425,010	216,085
Weighted-average fair value \| $ / shares		$ 8.22	$ 14.42	$ 16.27
Unrecognized compensation expense \| $		$ 6,400,000
Weighted average vesting period		1 year 4 months 24 days
Performance period		3 years
Percentage of target amount	100.00%
Aggregate value \| $	$ 3,700,000
Number of shares forfeited (in shares)		0
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 (in shares)		0
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%
Employee Stock Purchase Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares available for future issuance (in shares)		1,502,480
Dividend yield		12.20%	6.10%	5.50%
Number of shares authorized (in shares)		2,000,000
Number of employee stock purchase plans periods per year \| plan		2
Employee stock purchase plan period		6 months
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 (in shares)		172,641	69,854	74,950

Derivative Instruments and Hedging Activities (Details) $ / shares in Units, $ in Thousands		1 Months Ended	12 Months Ended
	Dec. 07, 2022 USD ($) $ / shares $ / Unit	Dec. 31, 2022 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Jun. 28, 2019 $ / shares	Jun. 25, 2019 $ / shares shares
Derivative Instruments And Hedging Activities Disclosures [Line Items]
Common stock aggregate at an exercise price (in dollars per share) \| $ / shares						$ 16.42
Payments for capped call option			$ 0	$ 21,149	$ 0
Derivative cap price (in dollars per share) \| $ / Unit	10.63
Sale of stock (in dollars per share) \| $ / shares	$ 6.075
Premium over the last reported common stock sales price, percentage	75.00%
Proceeds from termination of bond hedge option			$ 59	1,190	$ 0
Exchangeable Notes
Derivative Instruments And Hedging Activities Disclosures [Line Items]
Issuance senior notes, stated percentage						4.00%	4.00%
Counterparties 2019
Derivative Instruments And Hedging Activities Disclosures [Line Items]
Proceeds from termination of bond hedge option				$ 500
Convertible Debt
Derivative Instruments And Hedging Activities Disclosures [Line Items]
Payments for capped call option	$ 21,100	$ 21,100
Common Stock Warrants
Derivative Instruments And Hedging Activities Disclosures [Line Items]
Common stock aggregate at an exercise price (in dollars per share) \| $ / shares							$ 16.42
Maximum \| Common Stock Warrants
Derivative Instruments And Hedging Activities Disclosures [Line Items]
Warrants (in shares) \| shares							27,800,000
Maximum number of shares issued pursuant to warrants (in shares) \| shares							55,500,000

Derivative Instruments and Hedging Activities	12 Months Ended
Derivative Instruments and Hedging Activities	Dec. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments and Hedging Activities	Derivative Instruments and Hedging Activities Exchangeable Notes Hedge Transactions On June 25, 2019, concurrently with the pricing of the 4.00% Exchangeable Notes due June 15, 2024 (the "Exchangeable Notes"), and on June 27, 2019, concurrently with the exercise by the initial purchasers involved in the offering of the Exchangeable Notes (the “Initial Purchasers”) of their option to purchase additional Exchangeable Notes, Uniti Fiber Holdings Inc., the issuer of the Exchangeable Notes, entered into exchangeable note hedge transactions with respect to the Company’s common stock (the “Note Hedge Transactions”) with certain of the Initial Purchasers or their respective affiliates (collectively, 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. The Note Hedge Transactions meet certain accounting criteria under GAAP, are recorded in additional paid-in capital on our Consolidated Balance Sheets and 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 Warrants meet certain accounting criteria under GAAP, are recorded in additional paid-in capital on our Consolidated Balance Sheets and are not accounted for as derivatives that are remeasured each reporting period. Capped Call Transactions On December 7, 2022, in connection with the pricing of the Convertible 2027 Notes (see Note 1 3), the Company entered into privately negotiated capped call transactions (the “Capped Calls”) with certain financial institutions at a cost of $21.1 million. The Capped Calls cover the same number of shares of the Company’s common stock that initially underlie the Convertible 2027 Notes in the aggregate. By entering into the Capped Calls, the Company expects to reduce the potential dilution to its common stock (or, in the event a conversion of the Convertible 2027 Notes is settled in cash, to reduce its cash payment obligation) in the event that at the time of conversion of the Convertible 2027 Notes its common stock price exceeds the conversion price of the Convertible 2027 Notes. The cap price of the Capped Calls will initially be $10.63 per share of common stock, which represents a premium of 75% over the last reported sale price of the Company’s common stock of $6.075 per share on December 7, 2022 and is subject to customary anti-dilution adjustments substantially similar to those applicable to the Convertible 2027 Notes. The Company used approximately $21.1 million of the net proceeds from the offering of the Convertible 2027 Notes to pay for the cost of the Capped Calls. The Capped Calls meet the criteria for classification in equity, are not remeasured each reporting period and are included as a reduction to additional paid-in-capital within stockholders’ equity. Additionally on December 7, 2022, in connection with the Company’s repurchase of the Exchangeable Notes, the Company entered into partial unwind agreements (the “Unwind Agreements”) with the Counterparties to unwind (see Note 1 3) a portion of the Note Hedge Transactions and the Warrants described above (collectively, the “Unwind Transactions”). In connection with the Unwind Transactions, the Company received cash as a termination payment for of the portion of the Note Hedge Transactions that were unwound, and the Company delivered cash as a termination payment in respect of the portion of the Warrants that were unwound. The amount of cash that was received, which was approximately $1.2 million, and the amount of cash that was delivered to the Counterparties, which was approximately $0.5 million, were based generally on the termination values of the unwound portions of such instruments.

Employee Benefit Plan - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Defined Contribution Plan Disclosure [Line Items]
Employee minimum age eligible to participate in the employee benefit plan (in years)	21 years
Expense recognized under defined contribution plan	$ 2.3	$ 2.2	$ 2.1
Defined Contribution Plan First 3% of Employee's Compensation
Defined Contribution Plan Disclosure [Line Items]
Percentage of employer matching compensation contributed	100.00%
Percentage of employee's compensation contributed	3.00%
Defined Contribution Plan Next 2% of Employee's Compensation
Defined Contribution Plan Disclosure [Line Items]
Percentage of employer matching compensation contributed	50.00%
Percentage of employee's compensation contributed	2.00%

Stock-Based Compensation - Schedule of Assumptions used to Value PSUs Granted (Details) - Performance Awards	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected term (years)	3 years	3 years	3 years
Expected volatility	56.80%	40.60%	57.10%
Expected annual dividend	0.00%	0.00%	0.00%
Risk free rate	4.40%	1.80%	0.20%

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Notes and Other Debt

12 Months Ended

Dec. 31, 2023

Long-Term Debt, Unclassified [Abstract]

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, 2023		December 31, 2022
Principal amount	$	5,617,442	$	5,262,373
Less unamortized discount, premium and debt issuance costs	(93,863)		(73,558)
Notes and other debt less unamortized discount and debt issuance costs	$	5,523,579	$	5,188,815

Notes and other debt at December 31, 2023 and 2022 consisted of the following:


	December 31, 2023				December 31, 2022
(Thousands)	Principal		Unamortized Discount, Premium and Debt Issuance Costs		Principal		Unamortized Discount, Premium and Debt Issuance Costs
Senior secured notes - 7.875%, due February 15, 2025 (discount is based on imputed interest rate of 8.38%)	$	—	$	—	$	2,250,000	$	(22,239)
Senior secured notes - 10.50%, due February 15, 2028 (discount is based on imputed interest rate of 11.06%	2,600,000		(48,290)		—		—
Senior secured notes - 4.75%, due April 15, 2028 (discount is based on imputed interest rate of 5.04%)	570,000		(6,360)		570,000		(7,654)
Senior unsecured notes - 6.50%, due February 15, 2029 (discount is based on imputed interest rate of 6.83%)	1,110,000		(15,761)		1,110,000		(18,245)
Senior unsecured notes - 6.00%, due January 15, 2030 (discount is based on imputed interest rate of 6.27%)	700,000		(9,307)		700,000		(10,535)
Exchangeable senior unsecured notes - 4.00%, due June 15, 2024 (discount is based on imputed interest rate of 4.77%)	122,942		(427)		137,873		(1,501)
Convertible senior notes - 7.50%, due December 1, 2027 (discount is based on imputed interest rate of 8.29%)	306,500		(8,092)		306,500		(9,768)
Senior secured revolving credit facility, variable rate, due September 24, 2027	208,000		(5,625)		188,000		(3,616)
Total	$	5,617,442	$	(93,863)	$	5,262,373	$	(73,558)

At December 31, 2023, notes and other debt included the following: (i) $208.0 million under the Revolving Credit Facility (as defined below) pursuant to that certain credit agreement, dated as of April 24, 2015, by and among the Operating Partnership, Uniti Group Finance 2019 Inc. and CSL Capital, LLC (hereinafter, the “Borrowers”), the guarantors party thereto, Bank of America, N.A., as administrative agent, collateral agent, swing line lender and an L/C issue and certain other lenders name therein (the “Credit Agreement”); (ii) $2.6 billion aggregate principal amount of 10.50% Senior Secured Notes due February 15, 2028 (the “February 2028 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) $122.9 million aggregate principal amount of the Exchangeable Notes; (vi) $700.0 million aggregate principal amount of 6.00% Senior Unsecured Notes due January 15, 2030 (the “2030 Notes”); and (vii) $306.5 million aggregate principal amount of 7.50% Convertible Senior Notes due December 1, 2027 (the "Convertible 2027 Notes" and collectively with the February 2028 Secured Notes, 2028 Secured Notes, 2029 Notes, the Exchangeable Notes, and the 2030 Notes, the “Notes”).

Credit Agreement

The Borrowers are party to the Credit Agreement, which provides for a $500 million revolving credit facility that will mature on September 24, 2027 (the “Revolving Credit Facility”) and provides us with the ability to obtain revolving loans as well as swing line 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, 2023, 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.

Borrowings under the 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 Term SOFR 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 Term SOFR borrowings and (B) the average amount available to be drawn under outstanding letters of credit during such quarter.

The Notes

Secured Notes

On February 14, 2023, the Operating Partnership, CSL Capital, LLC, Uniti Group Finance 2019 Inc. and Uniti Fiber Holdings Inc. (collectively, the “Issuers”) issued $2.6 billion aggregate principal amount of the February 2028 Secured Notes. The Issuers used the net proceeds from the offering to fund the redemption in full of the Issuers’ outstanding 7.875% senior secured notes due 2025 (the "2025 Secured Notes"), to repay outstanding borrowings under the Revolving Credit Facility and to pay any related premiums, fees and expenses in connection with the foregoing. On February 14, 2023, the Issuers deposited the full redemption price of $2.25 billion for the 2025 Secured Notes with the trustee and satisfied and discharged their obligations with respect to the 2025 Secured Notes at such time. During the first quarter of 2023, we recorded $32.3 million of loss on the extinguishment of the 2025 Secured Notes within interest expense, net on the Condensed Consolidation Statements of (Loss) Income, which includes $10.3 million of non-cash interest expense for the write off of the unamortized discount and deferred financing costs and $22.0 million of cash interest expense for the redemption premium. The February 2028 Secured Notes mature on February 15, 2028 and interest is payable on March 15 and September 15 of each year, beginning on September 15, 2023.

On April 20, 2021, the Borrowers issued $570.0 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 Consolidated Statements of (Loss) Income, 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 to the Windstream Leases.

The indentures governing the Secured Notes contain customary high yield covenants limiting the ability of the Operating Partnership 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. The indentures governing the Secured Notes also contain customary events of default. As of December 31, 2023, 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 (Loss) Income, 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 Notes (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 (Loss) Income, 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 3. 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 the Operating Partnership 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, 2023, 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 the Operating Partnership’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, 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.

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 initially recognized as a debt discount, represented 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 was amortized to interest expense using an effective interest rate of 11.1% over the term of the Exchangeable Notes. The equity component was not remeasured.

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 components were offset against 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 distributions in excess of accumulated earnings as of January 1, 2021. See Note 3.

On December 12, 2022, in connection with the issuance of the Convertible 2027 Notes (as discussed below), approximately $207.1 million aggregate principal amount was repurchased for $194.0 million. As a result, we recognized a gain on extinguishment of $10.8 million, which is comprised of a $13.1 million gain on the repurchase of the Exchangeable Notes and a $2.3 million write off of the related unamortized deferred financing costs, within interest expense, net on the Consolidated Statements of (Loss) Income.

On March 21, 2023, the Company repurchased approximately $15.0 million of the Exchangeable Notes for total cash consideration of $13.7 million. During the first quarter of 2023, we recorded $1.1 million of gain on extinguishment of debt, net within interest expense on our Condensed Consolidated Statements of (Loss) Income, which included $0.1 million of non-cash interest expense for the write off of the unamortized discount and deferred financing costs. In connection with these repurchases, the Company entered into partial unwind agreements with the Counterparties to unwind a portion of the Note Hedge Transactions and the Warrants described above (see Note 11).

Convertible 2027 Notes

Uniti Group Inc. issued $300 million aggregate principal amount of the Convertible 2027 Notes on December 12, 2022 and, pursuant to an over-allotment option, $6.5 million aggregate principal amount of the Convertible 2027 Notes on December 23, 2022. The Convertible 2027 Notes are guaranteed by each of the Company’s subsidiaries that is an issuer, obligor or guarantor under the Company’s existing senior notes (except initially those subsidiaries that require regulatory approval prior to guaranteeing the Convertible 2027 Notes). The Convertible 2027 Notes bear interest at a fixed rate of 7.50% per year, payable semiannually in arrears on June 1 and December 1 of each year, beginning on June 1, 2023. The Convertible 2027 Notes are convertible into cash, shares of the Company’s common stock, or a combination thereof, at the Company’s election at an initial conversion rate of 137.1742 shares of the Company’s common stock per $1,000 principal amount (equal to an initial conversion price of approximately $7.29 per share) subject to adjustment. The Convertible 2027 Notes will mature on December 1, 2027, unless earlier converted, redeemed or repurchased.

The net proceeds from the sale of the Convertible 2027 Notes were approximately $298.1 million, after deducting discounts and commissions to the initial purchasers and other estimated fees and expenses. The Company contributed approximately $198.1 million of the net proceeds of the offering to Uniti Fiber Holdings Inc., a wholly owned subsidiary of the Company (“Uniti Fiber Holdings”), to fund the repurchase of, and to pay accrued and unpaid interest with respect to, approximately $207.1 million aggregate principal amount of the Exchangeable Notes issued by Uniti Fiber Holdings. The Company used $21.1 million of the net proceeds of the offering to pay the cost of certain capped call transactions in connection with the Convertible 2027 Notes offering, as described in Note 11. The Company intends to use the remaining net proceeds from the offering for general corporate purposes, which may include the repurchase or repayment of other outstanding debt, including, but not limited to, additional open market repurchases, redemptions or tender offers of the Exchangeable Notes.

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 (Loss) Income. For the year ended December 31, 2023, 2022 and 2021, we recognized $18.1 million, $17.5 million and $16.5 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, 2023 are as follows:


(Thousands)
2024	$	122,942
2025	—
2026	—
2027	514,500
2028	3,170,000
Thereafter	1,810,000
Total	$	5,617,442

Goodwill and Intangible Assets - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Remaining weighted average amortization period of intangible assets	13 years 4 months 24 days
Amortization	$ 29,700,000	$ 29,800,000	$ 29,800,000
Estimated amortization expense for 2023	29,700,000
Estimated amortization expense for 2024	29,700,000
Estimated amortization expense for 2025	29,700,000
Estimated amortization expense for 2026	29,700,000
Estimated amortization expense for 2027	28,100,000
Revenue related to amortization of below-market leases	$ 10,700,000	$ 10,700,000	$ 10,700,000
Remaining weighted average amortization period of intangible liabilities	16 years 1 month 6 days
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
Estimated revenue due to amortization, 2027	$ 10,200,000

Leases - Lease Payments to be Received under Non-Cancellable Operating Leases (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Lessee Lease Description [Line Items]
2024	$ 806,483
2025	816,771
2026	818,196
2027	819,134
2028	819,813
Thereafter	1,556,217
Total lease receivables	5,636,614
Total future minimum lease payments to be received	5,636,614
Windstream
Lessee Lease Description [Line Items]
Total lease receivables	4,700,000
Total future minimum lease payments to be received	$ 4,700,000

Leases - Future Lease Payments under Non-Cancellable Leases (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Operating Leases
2024	$ 19,220
2025	16,442
2026	12,980
2027	10,317
2028	8,672
Thereafter	96,881
Total undiscounted lease payments	164,512
Less: imputed interest	(80,108)
Operating lease liabilities	84,404	$ 66,356
Finance Leases
2024	3,709
2025	3,656
2026	3,530
2027	3,166
2028	2,467
Thereafter	9,583
Total undiscounted lease payments	26,111
Less: imputed interest	(8,001)
Total lease liabilities	$ 18,110	$ 15,520

Leases (Tables)

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

Components of Lease Income

The components of lease income for the years ended December 31, 2023 and 2022 are as follows:


(Thousands)	Year Ended December 31, 2023		Year Ended December 31, 2022
Lease income - operating leases	$	911,828	$	892,414

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 as of December 31, 2023 are as follows:


(Thousands)	December 31, 2023 (1)
2024	$	806,483
2025	816,771
2026	818,196
2027	819,134
2028	819,813
Thereafter	1,556,217
Total lease receivables	$	5,636,614
(1) Total future minimum lease payments to be received include $4.7 billion relating to the Windstream Leases.

Future sublease rentals as of December 31, 2023 are as follows:


(Thousands)	Sublease Rentals
2024	$	10,837
2025	10,961
2026	11,082
2027	11,166
2028	11,002
Thereafter	128,810
Total	$	183,858

Property, Plant, and Equipment, Lessor Asset under Operating Lease

The underlying assets under operating leases where we are the lessor as of December 31, 2023 and 2022 are summarized as follows:


(Thousands)	December 31, 2023		December 31, 2022
Land	$	26,533	$	26,549
Building and improvements	347,700		346,093
Poles	314,488		296,941
Fiber	3,862,635		3,529,835
Equipment	436		437
Copper	3,974,410		3,964,439
Conduit	90,087		89,963
Tower assets	58		1,397
Finance lease assets	1,890		28,126
Other assets	10,434		10,434
	8,628,671		8,294,214
Less: accumulated depreciation	(5,690,066)		(5,542,726)
Underlying assets under operating leases, net	$	2,938,605	$	2,751,488

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, 2023 and 2022 is summarized as follows:


(Thousands)	Year Ended December 31, 2023		Year Ended December 31, 2022
Depreciation expense for underlying assets under operating leases	$	182,906	$	176,160

Components of Lease Cost


(Thousands)	Year Ended December 31, 2023		Year Ended December 31, 2022
Finance lease cost
Amortization of ROU assets	$	4,066	$	3,793
Interest on lease liabilities	1,575		1,437
Total finance lease cost	5,641		5,230
Operating lease cost	22,999		19,946
Short-term lease cost	3,525		3,109
Variable lease cost	938		547
Less sublease income	(14,590)		(13,683)
Total lease cost	$	18,513	$	15,149

Other information related to leases as of December 31, 2023 and 2022 are as follows:


(Thousands)	Year Ended December 31, 2023		Year Ended December 31, 2022
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows for finance leases	$	1,575	$	1,437
Operating cash flows for operating leases	22,326		19,874
Financing cash flows for finance leases	2,262		1,193

Non-cash items:
New operating leases and remeasurements, net	$	32,490	$	23,173
New finance leases	5,687		1,314

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, 2023 and 2022 were as follows:


(Thousands)	Location on Consolidated Balance Sheets	December 31, 2023			December 31, 2022
Operating leases
ROU asset, net	Operating lease right-of-use assets, net	$	125,105		$	88,545
Lease liability	Operating lease liabilities	84,404			66,356

Finance leases
ROU asset, gross	Property, plant and equipment, net	$	52,589		$	73,487
Lease liability	Finance lease obligations	18,110			15,520

Weighted-average remaining lease term
Operating leases		13.4 years			10.1 years
Finance leases		8.7 years			11.5 years

Weighted-average discount rate
Operating leases		10.3		%	8.6		%
Finance leases		9.9		%	10.1		%

Lessee, Operating Lease, Liability, Maturity

Future lease payments under non-cancellable leases as of December 31, 2023 are as follows:


(Thousands)	Operating Leases		Finance Leases
2024	$	19,220	$	3,709
2025	16,442		3,656
2026	12,980		3,530
2027	10,317		3,166
2028	8,672		2,467
Thereafter	96,881		9,583
Total undiscounted lease payments	$	164,512	$	26,111
Less: imputed interest	(80,108)		(8,001)
Total lease liabilities	$	84,404	$	18,110

Finance Lease, Liability, Fiscal Year Maturity

Future lease payments under non-cancellable leases as of December 31, 2023 are as follows:


(Thousands)	Operating Leases		Finance Leases
2024	$	19,220	$	3,709
2025	16,442		3,656
2026	12,980		3,530
2027	10,317		3,166
2028	8,672		2,467
Thereafter	96,881		9,583
Total undiscounted lease payments	$	164,512	$	26,111
Less: imputed interest	(80,108)		(8,001)
Total lease liabilities	$	84,404	$	18,110

Organization and Description of Business	12 Months Ended
Organization and Description of Business	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Description of Business	Organization and Description of Business Uniti Group Inc. (the “Company,” “Uniti,” “we,” “us,” or “our”) was incorporated in the state of Maryland on September 4, 2014. We are an independent internally managed real estate investment trust (“REIT”) engaged in the acquisition, construction and leasing of mission critical infrastructure in the communications industry. We are principally focused on acquiring and constructing fiber optic, copper and coaxial broadband networks and data centers. We manage our operations focused on our two primary lines of business: Uniti Fiber and Uniti Leasing. The Company operates 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. 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, 2023, we are the sole general partner of the Operating Partnership and own approximately 99.96% of the partnership interests in the Operating Partnership.

Segment Information (Tables)

12 Months Ended

Dec. 31, 2023

Segment Reporting [Abstract]

Schedule of Segment Reporting Information

Selected financial data related to our segments is presented below for the years ended December 31, 2023, 2022 and 2021:


	Year Ended December 31, 2023
(Thousands)	Uniti Leasing		Uniti Fiber		Corporate		Total of Reportable Segments
Revenues	$	852,772	$	297,059	$	—	$	1,149,831

Adjusted EBITDA	$	829,557	$	115,723	$	(21,778)	$	923,502
Less:
Interest expense, net							512,349
Depreciation and amortization	178,872		131,600		56		310,528
Other, net							20,893
Transaction related and other costs							12,611
Gain on sale of real estate							(2,164)
Goodwill impairment							203,998
Stock-based compensation							12,491
Income tax benefit							(68,474)
Adjustments for equity in earnings from unconsolidated entities							$	3,019
Net loss							(81,749)

Capital expenditures	$	277,235	$	139,767	$	—	$	417,002


	Year Ended December 31, 2022
(Thousands)	Uniti Leasing		Uniti Fiber		Corporate		Total of Reportable Segments
Revenues	$	827,457	$	301,390	$	—	$	1,128,847

Adjusted EBITDA	$	806,027	$	125,361	$	(25,492)	$	905,896
Less:
Interest expense, net							376,832
Depreciation and amortization	172,007		120,666		115		292,788
Other, net							(4,790)
Transaction related and other costs							10,340
Gain on sale of operations							(176)
Gain on sale of real estate							(433)
Goodwill impairment							240,500
Stock-based compensation							12,751
Income tax benefit							(17,365)
Adjustments for equity in earnings from unconsolidated entities							3,571
Net loss							$	(8,122)

Capital expenditures	$	263,269	$	163,962	$	336	$	427,567


	Year Ended December 31, 2021
(Thousands)	Uniti Leasing		Uniti Fiber		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 loss							$	124,745

Capital expenditures	$	223,251	$	162,463	$	141	$	385,855

Summary of Total Assets by Business Segment

Total assets by business segment as of December 31, 2023 and December 31, 2022 are as follows:


	December 31,
(Thousands)	2023		2022
Uniti Leasing	$	2,936,972	$	2,705,934
Uniti Fiber	1,956,381		2,076,136
Corporate	131,776		69,159
Total of reportable segments	$	5,025,129	$	4,851,229

Subsequent Events	12 Months Ended
Subsequent Events	Dec. 31, 2023
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events Asset-Backed Securities Facility On February 23, 2024, Uniti Fiber Bridge Borrower LLC (the “ABS Borrower”), Uniti Fiber Bridge HoldCo LLC and Uniti Fiber GulfCo LLC (together, the “ABS Loan Parties”), each an indirect subsidiary of the Company, entered into a bridge loan and security agreement, dated as of February 23, 2024 (the “ABS Loan Agreement”) by and among the ABS Loan Parties, Wilmington Trust, National Association, as administrative agent, collateral agent, account bank and verification agent, Barclays Bank PLC, as facility agent, and the lenders identified therein. The ABS Loan Agreement provides for a secured, multi-draw term loan facility of up to $350 million (the “ABS Loan Facility”). Unless otherwise terminated pursuant to the terms of the ABS Loan Agreement, the ABS Loan Facility matures on the date that is 18 months from the initial draw thereunder (the “Closing Date”). The Company intends to refinance the ABS Loan Facility in full with proceeds from a long-term ABS facility secured primarily by certain Uniti Fiber network assets. Amounts outstanding under the ABS Loan Facility will bear interest at a floating rate equal to, at the Company’s option, either (i) the one-month or three-month Secured Overnight Financing Rate (“SOFR”), plus a spread of 3.75% per annum or (ii) Base Rate (as defined in the ABS Loan Agreement), plus a spread of 2.75% per annum; provided that the spread will automatically increase to (a) 4.50% per annum in the case of loans bearing interest based on SOFR and 3.50% per annum in the case of loans bearing interest based on Base Rate, in each case to the extent outstanding on and after the date that is 12 months following the Closing Date and (b) 5.25% per annum in the case of loans bearing interest based on SOFR and 4.25% per annum in the case of loans bearing interest based on Base Rate, in each case to the extent outstanding on and after the date that is 15 months following the Closing Date. The Company intends to cap SOFR interest expense for the duration of the ABS Loan Facility pursuant to an interest rate protection agreement. In connection with the ABS Loan Facility, the Company formed Uniti Fiber ABS Parent LLC, an indirect subsidiary that qualifies as a bankruptcy-remote special purpose entity (“ABS Parent”), and directed the formation of the ABS Loan Parties, which are direct and indirect subsidiaries of ABS Parent. Each of the ABS Loan Parties is a Delaware limited liability company and a special purpose, bankruptcy-remote, indirect subsidiary of the Company. The ABS Loan Facility is secured by equity in the ABS Borrower and substantially all of the assets of the ABS Loan Parties (subject to certain customary limited exceptions) and is non-recourse to the Company. Each of the ABS Loan Parties and ABS Parent was designated as an unrestricted subsidiary under the Credit Agreement (as defined herein) and the applicable indentures governing the Company’s outstanding senior notes. The assets of the ABS Loan Parties will only be available for payment of the obligations arising under the ABS Loan Agreement and will not be available to pay any obligations or claims of the Company’s other creditors. In connection with the initial funding under the ABS Loan Facility on the Closing Date, the Company will, directly or indirectly, (i) transfer certain Uniti Fiber non-regulated and interstate customer contracts and related equipment to the ABS Loan Parties and (ii) grant an indefeasible right of use in the related fiber network assets to such ABS Loan Parties. In addition, certain of the ABS Loan Parties will enter into a management agreement (the “Management Agreement”) with Uniti Fiber Holdings Inc. (the “Manager”), pursuant to which the Manager will be responsible for servicing and administering the assets securing the ABS Loan Facility and be permitted to make reimbursable servicing advances in respect of the collateral securing the ABS Loan Facility under certain circumstances. The ABS Loan Agreement contains customary covenants limiting the ability of the ABS Loan Parties to: incur or guarantee additional indebtedness; pay dividends or distributions on, or redeem or repurchase, capital stock; make certain investments or other restricted payments; sell fiber network assets; enter into transactions with affiliates; and create restrictions on the ability of the ABS Loan Parties to incur liens on their assets constituting collateral to secure obligations under the ABS Loan Agreement. These covenants are subject to a number of limitations, qualifications and exceptions. The ABS Loan Agreement also contains a maximum leverage financial maintenance covenant and customary events of default. CableSouth In 2018, we acquired certain fiber assets from CableSouth Media, LLC (“CableSouth”) and leased back certain of those acquired assets to CableSouth pursuant to a triple-net lease. During the fourth quarter of 2023, the Company entered into an agreement with a fund managed by Macquarie Asset Management ("MAM") pursuant to which MAM would make a structured equity investment into CableSouth in order to assist CableSouth in the acquisition of all of our previously acquired CableSouth fiber assets and the buyout of their triple-net lease for cash consideration of $40.0 million (the "Transaction"). The Transaction closed on January 31, 2024.

Summary of Significant Accounting Policies - Property, Plant and Equipment and Tenant Capital Improvements (Details) - USD ($)		12 Months Ended
	Apr. 27, 2015	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Summary Of Significant Accounting Policies [Line Items]
Accumulated amortization of finance lease assets		$ 20,400,000	$ 22,200,000
Gain (loss) on disposition of property	$ 0
Depreciation expense		280,800,000	263,000,000	$ 261,200,000
Impairment losses		0	0	0
Property Plant and Equipment, Net
Summary Of Significant Accounting Policies [Line Items]
Tenant funded capital improvements		970,100,000	884,400,000
Tenant Capital Improvements \| Master Lease \| Windstream
Summary Of Significant Accounting Policies [Line Items]
Leasing revenue		47,000,000	43,200,000	39,000,000
Depreciation expense		$ 47,000,000	$ 43,200,000	$ 39,000,000

Supplemental Cash Flow Information - Schedule Cash Paid For Interest Expenses And Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Supplemental Cash Flow Information [Abstract]
Interest, net of capitalized interest	$ 460,734	$ 335,920	$ 375,578
Income taxes, net of refunds	$ 1,289	$ 9,437	$ 1,386

Property, Plant and Equipment - Schedule of Carrying Value of Property, Plant and Equipment (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	$ 10,201,409	$ 9,728,177
Less accumulated depreciation	(6,219,340)	(5,973,630)
Property, plant and equipment, net	3,982,069	3,754,547
Land
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	30,099	28,845
Building and improvements
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	$ 366,490	363,077
Building and improvements \| Minimum
Property Plant And Equipment [Line Items]
Depreciable lives	3 years
Building and improvements \| Maximum
Property Plant And Equipment [Line Items]
Depreciable lives	40 years
Poles
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	$ 314,489	296,941
Depreciable lives	30 years
Fiber
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	$ 4,835,623	4,434,506
Depreciable lives	30 years
Fiber \| Windstream
Property Plant And Equipment [Line Items]
Depreciable lives	20 years
Equipment
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	$ 460,463	399,473
Equipment \| Minimum
Property Plant And Equipment [Line Items]
Depreciable lives	5 years
Equipment \| Maximum
Property Plant And Equipment [Line Items]
Depreciable lives	7 years
Copper
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	$ 3,974,410	3,964,439
Depreciable lives	20 years
Conduit
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	$ 90,087	89,963
Depreciable lives	30 years
Tower assets
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	$ 1,221	5,619
Depreciable lives	20 years
Finance lease assets
Property Plant And Equipment [Line Items]
Finance lease assets	$ 52,589	73,487
Construction in progress
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	49,771	46,508
Other assets
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	$ 10,436	10,436
Other assets \| Minimum
Property Plant And Equipment [Line Items]
Depreciable lives	15 years
Other assets \| Maximum
Property Plant And Equipment [Line Items]
Depreciable lives	20 years
Corporate assets
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	$ 15,731	$ 14,883
Corporate assets \| Minimum
Property Plant And Equipment [Line Items]
Depreciable lives	3 years
Corporate assets \| Maximum
Property Plant And Equipment [Line Items]
Depreciable lives	7 years

Property, Plant and Equipment

12 Months Ended

Dec. 31, 2023

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

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


(Thousands)	Depreciable Lives(1)	December 31, 2023		December 31, 2022
Land	Indefinite	$	30,099	$	28,845
Building and improvements	3 - 40 years	366,490		363,077
Poles	30 years	314,489		296,941
Fiber	30 years	4,835,623		4,434,506
Equipment	5 - 7 years	460,463		399,473
Copper	20 years	3,974,410		3,964,439
Conduit	30 years	90,087		89,963
Tower assets	20 years	1,221		5,619
Finance lease assets	See Note 3	52,589		73,487
Construction in progress	See Note 3	49,771		46,508
Other assets	15 - 20 years	10,436		10,436
Corporate assets	3 - 7 years	15,731		14,883
		10,201,409		9,728,177
Less accumulated depreciation		(6,219,340)		(5,973,630)
Property, plant and equipment, net		$	3,982,069	$	3,754,547

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

Finance lease assets above predominantly 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, 2023, 2022, and 2021 was $280.8 million, $263.0 million and $261.2 million, respectively.

Schedule I - Condensed Financial Information of The Registrant (Parent Company) - Condensed Statements of Cash Flows (Details) - USD ($) $ in Thousands		9 Months Ended	12 Months Ended
	Dec. 07, 2022	Sep. 30, 2023	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Cash flow from operating activities
Net cash provided by (used in) operating activities		$ 190,575	$ 353,129	$ 460,115	$ 499,157
Cash flow from investing activities
Proceeds from sale of real estate, net of cash			2,545	665	1,034
Net cash used in by investing activities			(411,311)	(392,019)	(321,221)
Cash flow from financing activities
Dividends paid			(107,405)	(142,950)	(141,371)
Proceeds from issuance of Notes			2,600,000	306,500	2,380,000
Payments for financing costs			(26,955)	(9,852)	(27,660)
Payments related to tax withholding for stock-based compensation			(1,433)	(4,913)	(4,100)
Proceeds from termination of bond hedge option	$ 1,200
Proceeds from employee stock purchase plan			730	589	672
Net cash provided by (used in) financing activities			76,643	(83,196)	(196,567)
Net increase (decrease) in cash and cash equivalents			18,461	(15,100)	(18,631)
Cash and cash equivalents at beginning of period		43,803	43,803	58,903	77,534
Cash and cash equivalents at end of period			62,264	43,803	58,903
Uniti Group Inc.
Cash flow from operating activities
Net cash provided by (used in) operating activities			104,630	(134,179)	141,527
Cash flow from investing activities
Proceeds from sale of real estate, net of cash			0	0	0
Net cash used in by investing activities			0	0	0
Cash flow from financing activities
Dividends paid			(107,405)	(142,950)	(141,371)
Proceeds from issuance of Notes			0	306,500	0
Payments for financing costs			0	(9,852)	0
Payment for settlement of common stock warrant			(56)	(522)	0
Payments related to tax withholding for stock-based compensation			(1,432)	(4,913)	(4,100)
Proceeds from termination of bond hedge option			59	1,190	0
Payments for capped call option			0	(21,149)	0
Intercompany transactions, net			1,368	4,907	4,100
Proceeds from employee stock purchase plan			730	589	672
Net cash provided by (used in) financing activities			(106,736)	133,800	(140,699)
Net increase (decrease) in cash and cash equivalents			(2,106)	(379)	828
Cash and cash equivalents at beginning of period		$ 2,733	2,733	3,112	2,284
Cash and cash equivalents at end of period			$ 627	$ 2,733	$ 3,112

Income Taxes - Schedule of Components of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Deferred tax assets:
Deferred revenue	$ 31,123	$ 30,616
Stock-based compensation	629	528
Asset retirement obligation	1,511	2,213
Inventory reserve	133	140
Excess business interest expense	24,090	14,037
Lease asset liability	12,715	14,325
Settlement obligation	605	680
Debt discount and interest expense	841	2,593
Other intangible amortization	27,494	0
Other	4,560	3,035
Net operating loss carryforwards	156,482	143,733
Deferred tax assets	260,183	211,900
Deferred tax liabilities:
Property, plant and equipment	(97,459)	(94,889)
Customer list intangible	(37,159)	(39,125)
Other intangible amortization	0	(18,320)
Right of use asset	(12,489)	(15,384)
Deferred or prepaid costs	(3,792)	(3,533)
Other	(156)	(18)
Deferred tax liabilities	(151,055)	(171,269)
Deferred tax asset, net	$ 109,128	$ 40,631

Employee Benefit Plan	12 Months Ended
Employee Benefit Plan	Dec. 31, 2023
Retirement Benefits [Abstract]
Employee Benefit Plan	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, 2023, 2022 and 2021 was $2.3 million, $2.2 million and $2.1 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.