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Document and Entity Information - shares	6 Months Ended
Document and Entity Information - shares	Jun. 30, 2015	Aug. 07, 2015
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2015
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q2
Trading Symbol	CSAL
Entity Registrant Name	COMMUNICATIONS SALES & LEASING, INC.
Entity Central Index Key	0001620280
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		150,558,346

Condensed Consolidated Balance Sheet (unaudited) $ in Thousands	Jun. 30, 2015 USD ($)
Assets:
Real estate investments	$ 5,997,438
Accumulated depreciation real estate investments	(3,557,112)
Net real estate investments	2,440,326
Cash and cash equivalents	154,615
Accounts receivable, net	3,507
Customer list intangible assets, net	12,458
Derivative asset	28,551
Straight-line rent receivable	3,200
Other assets	2,983
Total Assets	2,645,640
Liabilities and Shareholders' Deficit:
Accounts payable, accrued expenses and other liabilities	33,047
Dividend payable	66,576
Deferred income taxes	6,633
Notes and other debt	3,508,685
Total liabilities	3,614,941
Commitments and contingencies (Note 12)
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, 149,832 shares issued and outstanding	150
Accumulated other comprehensive income	28,551
Distributions in excess of accumulated earnings	(998,002)
Total shareholders' deficit	(969,301)
Total Liabilities and Shareholders' Deficit	$ 2,645,640

Condensed Consolidated Balance Sheet (Parenthetical) (unaudited)	Jun. 30, 2015 $ / shares shares
Statement Of Financial Position [Abstract]
Preferred stock, par value \| $ / shares	$ 0.0001
Preferred stock, shares authorized	50,000,000
Preferred stock, shares issued	0
Preferred stock, shares outstanding	0
Common stock, par value \| $ / shares	$ 0.0001
Common stock, shares authorized	500,000,000
Common stock, shares issued	149,831,654
Common stock, shares outstanding	149,831,654

Condensed Consolidated Statement of Income (unaudited) shares in Thousands, $ in Thousands	2 Months Ended
	Jun. 30, 2015 USD ($) $ / shares shares
Revenues:
Total revenues	$ 128,748
Costs and Expenses:
Interest expense	48,797
Depreciation and amortization	64,444
General and administrative expense	3,234
Total costs and expenses	120,216
Income before income taxes	8,532
Income tax expense	231
Net income	8,301
Participating securities' share in earnings	(325)
Net income applicable to common shareholders	$ 7,976
Earnings per common share:
Basic \| $ / shares	$ 0.05
Diluted \| $ / shares	$ 0.05
Weighted-average number of common shares outstanding
Basic \| shares	149,827
Diluted \| shares	149,827
Dividends declared per common share \| $ / shares	$ 0.44
Rental Revenues
Revenues:
Total revenues	$ 124,172
Costs and Expenses:
Depreciation and amortization	63,801
Consumer CLEC
Revenues:
Total revenues	4,576
Costs and Expenses:
Depreciation and amortization	643
CLEC operating expense	$ 3,741

Condensed Consolidated Statement of Comprehensive Income (unaudited) $ in Thousands	2 Months Ended
	Jun. 30, 2015 USD ($)
Statement Of Income And Comprehensive Income [Abstract]
Net income	$ 8,301
Other comprehensive income:
Unrealized gain on derivative contracts	28,551
Comprehensive income	$ 36,852

- Definition

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

+ References + Details

Condensed Consolidated Statement of Shareholders' Deficit (unaudited) $ in Thousands	2 Months Ended
	Jun. 30, 2015 USD ($) shares
Net income	$ 8,301
Distributions to Windstream related to Spin-Off	(3,447,879)
Other comprehensive income	28,551
Common stock dividends	(66,576)
Equity issuance cost	(456)
Stock-based compensation	338
Ending balance, value	$ (969,301)
Common Stock
Stock-based compensation, shares \| shares	4,440
Ending balance, value	$ 150
Ending balance, shares \| shares	149,831,654
Additional Paid-in Capital
Equity issuance cost	$ (338)
Stock-based compensation	338
Accumulated Other Comprehensive Income
Other comprehensive income	28,551
Ending balance, value	28,551
Distributions in Excess of Accumulated Earnings
Net income	8,301
Distributions to Windstream related to Spin-Off	(3,447,879)
Common stock dividends	(66,576)
Equity issuance cost	(118)
Ending balance, value	$ (998,002)

Condensed Consolidated Statement of Cash Flows (unaudited) $ in Thousands	2 Months Ended
	Jun. 30, 2015 USD ($)
Cash flow from operating activities
Net income	$ 8,301
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	64,444
Amortization of deferred financing costs	1,272
Amortization of debt discount	1,366
Deferred income taxes	(292)
Straight-line rental revenues	(3,200)
Stock-based compensation	338
Other	35
Changes in:
Accounts receivable	(1,640)
Other assets	(1,827)
Accounts payable, accrued expenses and other liabilities	24,634
Net cash provided by operating activities	93,431
Cash flow from investing activities
Consideration paid to Windstream Services, LLC	(1,035,029)
Capital expenditures	(397)
Net cash used in investing activities	(1,035,426)
Cash flow from financing activities
Proceeds from issuance of Term Loans	1,127,000
Deferred financing costs	(29,933)
Common stock issuance costs	(456)
Cash in-lieu of fractional shares	(19)
Net cash provided by financing activities	1,096,592
Net increase in cash and cash equivalents	154,597
Cash and cash equivalents at end of period	154,615
Supplemental cash flow information:
Cash paid for interest	24,583
Non-cash investing and financing activities:
Issuance of notes and other debt to Windstream Services, LLC, net of deferred financing costs ($34,681)	2,412,829
Tenant capital improvements	6,303
Accrual of dividends declared	$ 66,576

Condensed Consolidated Statement of Cash Flows (Parenthetical) (unaudited) $ in Thousands	2 Months Ended
	Jun. 30, 2015 USD ($)
Deferred financing costs	$ 29,933
Windstream Services Llc
Deferred financing costs	$ 34,681

Statement of Assets Contributed and Liabilities Assumed (unaudited) $ in Thousands	Dec. 31, 2014 USD ($)
Consumer CLEC Business
Assets:
Accounts receivable (less allowance for doubtful accounts of $104)	$ 1,912
Customer list intangible assets, net	14,452
Other assets	301
Total Assets	16,665
Liabilities:
Advance payments and customer deposits	1,154
Accrued payroll and commissions	39
Accrued interconnection costs	1,209
Deferred taxes	5,483
Total liabilities	7,885
Net Assets Contributed	$ 8,780

Statement of Assets Contributed and Liabilities Assumed (Parenthetical) (unaudited) $ in Thousands	Dec. 31, 2014 USD ($)
Consumer CLEC Business
Allowance for doubtful accounts	$ 104

Statement of Revenues and Direct Expenses (unaudited) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended	4 Months Ended	6 Months Ended
	Apr. 23, 2015	Jun. 30, 2014	Apr. 23, 2015	Jun. 30, 2014
Consumer CLEC Business
Revenues	$ 2,258	$ 8,910	$ 10,149	$ 18,614
Direct expenses:
Cost of revenues	1,201	4,857	5,552	9,957
Selling, general, and administrative	7	11	22	25
Amortization	270	1,174	1,283	2,347
Total costs and expenses	1,478	6,042	6,857	12,329
Revenues in Excess of Direct Expenses	$ 780	$ 2,868	$ 3,292	$ 6,285

Combined Balance Sheets (unaudited) $ in Thousands	Dec. 31, 2014 USD ($)
Distribution Systems
Assets:
Property, plant and equipment, net	$ 2,571,800
Total Assets	2,571,800
Equity
Invested equity	2,571,800
Total shareholders' deficit	$ 2,571,800

Organization and Description of Business and Basis of Presentation	2 Months Ended
	Jun. 30, 2015
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Organization and Description of Business and Basis of Presentation	Note 1. Organization and Description of Business and Basis of Presentation Communications Sales & Leasing, Inc. (the “Company,” “CS&L,” “we,” “us” or “our”) was incorporated in the state of Delaware in February 2014 and reorganized in the state of Maryland on September 4, 2014 as a subsidiary of Windstream Holdings, Inc. (“Windstream Holdings” and, together with its consolidated subsidiaries “Windstream”). On April 24, 2015, in connection with the separation and spin-off of CS&L from Windstream (the “Spin-Off”), Windstream contributed certain telecommunications network assets, including fiber and copper networks and other real estate (the “Distribution Systems”) and a small consumer competitive local exchange carrier (“CLEC”) business (the “Consumer CLEC Business”) to CS&L in exchange for certain consideration paid to Windstream. The assets and liabilities of the Distribution Systems and Consumer CLEC Business were recorded in our Condensed Consolidated Financial statements on a carryover basis as of the date of the Spin-Off. As a result of the Spin-Off, we are an independent, publicly traded company, primarily engaged in the ownership, acquisition, leasing and funding the construction of communication distribution systems. We generate revenues primarily by leasing communications distribution systems to telecommunications operators in triple-net lease arrangements, under which the tenant is primarily responsible for costs relating to the distribution systems (including property taxes, insurance, and maintenance and repair costs). We intend to elect on our U.S. federal income tax return for the taxable year ending December 31, 2015 to be treated as a real estate investment trust (“REIT”). The Consumer CLEC Business, which historically has been reported as an integrated operation within Windstream, offers voice, broadband, long-distance, and value-added services to residential customers located primarily in rural locations. Substantially all of the network assets used to provide these services to customers are contracted through interconnection agreements with other telecommunications carriers. We have elected to treat the Consumer CLEC Business as a “taxable REIT subsidiary” effective on the first day of the first taxable year that CS&L qualifies as a REIT.

Basis of Presentation	2 Months Ended	4 Months Ended	12 Months Ended
Basis of Presentation	Jun. 30, 2015	Apr. 23, 2015	Dec. 31, 2014
Basis of Presentation	Note 2. Basis of Presentation The accompanying Consolidated Financial Statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim 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”). Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair statement of results for the interim period have been included. Operating results for the period from April 24, 2015 through June 30, 2015 are not necessarily indicative of the results that may be expected for the period ending December 31, 2015. The accompanying Consolidated Financial Statements and related notes should be read in conjunction with the audited consolidated financial statements and notes thereto included in our information statement on Form 10 filed as Exhibit 99.1 to our Current Report on Form 8-K filed with the SEC on March 26, 2015. All material intercompany balances and transactions have been eliminated.
Consumer CLEC Business
Basis of Presentation		Note 2. Basis of Presentation The accompanying unaudited Statement of Assets Contributed and Liabilities Assumed of the Consumer CLEC Business as of December 31, 2014 and the related Statements of Revenues and Direct Expenses for the periods from April 1, 2015 to April 24, 2015 (the “Spin Date”) and January 1, 2015 to Spin Date and the three and six months ended June 30, 2014 have been prepared for the purpose of complying with the rules and regulations of the Securities and Exchange Commission (the “SEC”), as permitted by the SEC and are not intended to be a complete presentation of the financial position or results of operations of the Consumer CLEC Business. Additionally, the interim financial statements have been prepared consistent with Article 10 of Regulation S-X. The elements of the financial statements are stated in accordance with accounting principles generally accepted in the United States (“GAAP”). Certain information and footnote disclosures have been condensed or omitted as permitted by the SEC’s rules and regulations. In the opinion of management, all adjustments considered necessary for a fair statement of the results of the interim periods presented have been included. The results of operations for the interim periods are not necessarily indicative of results for the full year. The accompanying Statements of Assets Contributed and Liabilities Assumed include only certain assets and liabilities directly related to the Consumer CLEC Business that were transferred by Windstream to CS&L pursuant to the Separation and Distribution Agreement between CS&L and Windstream dated March 26, 2015. Windstream has retained certain assets and liabilities of the Consumer CLEC Business consisting of the following: cash and cash equivalents, intercompany receivables and payables, certain trade accounts payable, liabilities related to employee benefit plans, income taxes payable and deferred income taxes. Accordingly, the assets and liabilities retained by Windstream have been excluded from the Statements of Assets Contributed and Liabilities Assumed. In addition, the Consumer CLEC Business primarily uses leased network facilities to provide telecommunications services to its customers and does not hold legal title to any property, plant and equipment. The accompanying Statements of Revenues and Direct Expenses include all direct costs incurred in connection with the operation of the Consumer CLEC Business for which specific identification was practicable. In addition, direct costs incurred by Windstream to operate the Consumer CLEC Business for which specific identification was not practicable have been allocated based on assumptions that management believes reasonable under the circumstances as more fully discussed in Note 6. The Statements of Revenues and Direct Expenses exclude costs that are not directly related to the Consumer CLEC Business including general corporate overhead costs, interest expense and income taxes. These costs are incurred by the Consumer CLEC.
Distribution Systems
Basis of Presentation			2. Basis of Presentation The accompanying balance sheet reflect the Distribution System assets of Windstream that were transferred to CS&L in connection with the Spin-Off. The balance sheet presented herein are combined on the basis of common control. The accompanying balance sheet have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) and have been derived from the accounting records of Windstream. The Distribution System assets presented in the accompanying balance sheet reflects Windstream’s historical carrying value of the assets as of the balance sheet date consistent with the accounting for spin-off transactions in accordance with GAAP.

Summary of Significant Accounting Policies

2 Months Ended

4 Months Ended

12 Months Ended

Jun. 30, 2015

Apr. 23, 2015

Dec. 31, 2014

Summary Of Significant Accounting Policies [Line Items]

Summary of Significant Accounting Policies

Note 3. 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.

Real Estate Investments—Real estate investments are stated at original cost, less accumulated depreciation and consists of land and central office buildings, copper and fiber optic cable lines, telephone poles, underground conduits, concrete pads, pedestals, guy wires, anchors, and attachment hardware. Costs of maintenance and repairs to real estate investments are the responsibility of our tenant under triple-net leasing arrangements.

Certain real estate investments are 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, 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.

Tenant Capital Improvements – Our lease with Windstream provides that tenant funded capital improvements (“TCI’s”), 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 CS&L 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 real estate investments and deferred revenue. Deferred revenue is recorded within accounts payable, accrued expenses and other liabilities. 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. At June 30, 2015, the net book value of TCI’s recorded as a component of real estate investments, net on our Condensed Consolidated Balance Sheet was $6.3 million.

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 expected 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.

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, in which we reflect all derivative instruments at fair value as either assets or liabilities on our Condensed Consolidated Balance Sheet. For derivative instruments that are designated and qualify as hedging instruments, we record the effective portion of the gain or loss on the hedge instruments as a component of accumulated other comprehensive income. 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. See Note 5.

Customer List Intangible Assets—Customer list intangible assets are presented in the financial statements at cost less accumulated amortization and are amortized using the sum-of-the-digits method over their estimated useful lives.

Revenue Recognition—We recognize leasing revenues on a straight-line basis over the applicable lease term when collectability is reasonably assured. Recognizing leasing income on a straight-line basis generally results in recognized revenues during the first half of the lease term in excess of cash amounts contractually due from our tenants, creating a straight-line rent receivable.

We evaluate the collectability of straight-line rent receivables and record a provision for doubtful accounts if management believes the receivables to be uncollectible. At June 30, 2015 no allowance was recorded related to our straight-line rent receivable.

Consumer CLEC Business revenues are primarily derived from providing access to or usage of leased networks and facilities, and are recognized over the period that the corresponding services are rendered to customers. Revenues derived from other telecommunications services, including broadband, long distance and enhanced service revenues are recognized monthly as services are provided. Sales of customer premise equipment and modems are recognized when products are delivered to and accepted by customers.

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—We intend to elect on our U.S. federal income tax return for the taxable year ending December 31, 2015 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 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, including any applicable alternative minimum 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 re-electing to be taxed as a REIT for the four taxable years following the year in which we failed to qualify as a REIT.

To maintain REIT status, we must distribute a minimum of 90% of our taxable income. We intend to make regular quarterly dividend payments of all or substantially all of our income to holders of our common stock, and therefore no provision is required in the accompanying Condensed Consolidated Financial Statements for federal income taxes related to the activities of the REIT and its pass-through subsidiaries. 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 base on analysis and interpretation of respective tax laws.

We have elected to treat certain subsidiaries as taxable REIT subsidiaries (“TRS”). Certain activities that we undertake must be conducted by a TRS, such as our Consumer CLEC Business, that we could otherwise not perform as a REIT, such as holding certain assets directly. A TRS is subject to both corporate level federal and state income taxes.

Deferred income taxes are recognized in certain taxable entities. 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 currently have no liabilities for uncertain income tax positions. We have not yet filed our initial corporate tax return and therefore are not yet subject to examination.

The Company will be subject to a federal corporate level tax rate (currently 35%) on any gain recognized from the sale of assets occurring within a specified period (generally 10 years) after the spin-off up to the amount of the built in gain that existed on April 24, 2015, which is based on the fair market value of the assets in excess of the Company’s tax basis as of such date.

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 and performance-based awards outstanding during the period, when such awards are dilutive.

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.

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

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

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

Level 3 – Unobservable inputs for the asset or liability

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

The following table summarizes the valuation of our financial instruments at June 30, 2015:

(Thousands)	Total		Quoted Prices in Active Markets (Level 1)		Prices with Other Observable Inputs (Level 2)		Prices with Unobservable Inputs (Level 3)
Assets
Cash and cash equivalents	$	154,615	$	154,615	$	-	$	-
Accounts and other receivables		3,507		3,507		-		-
Derivative asset		28,551		-		28,551		-
Total	$	186,673	$	158,122	$	28,551	$	-


Liabilities
Senior secured notes - 6.00% , due April 15, 2023	$	389,000	$	-	$	389,000	$	-
Senior unsecured notes - 8.25%, due October 15, 2023		1,082,250		-		1,082,250		-
Senior secured term loan B - variable rate, due October 24, 2022		2,086,500		-		2,086,500		-
Accounts and interest payable		33,047		33,047		-		-
Total	$	3,590,797	$	33,047	$	3,557,750	$	-

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

The Company has determined that the majority of the inputs used to value its derivative assets fall within Level 2 of the fair value hierarchy; however the associated credit valuation adjustments utilized Level 3 inputs, such as estimates of credit spreads, to evaluate the likelihood of default by the Company and its counterparties. As of June 30, 2015, the Company has assessed the significance of the impact of the credit valuation adjustments on the overall valuation of its derivative positions and has determined that the credit valuation adjustment is not significant to the overall value of the derivatives. As such, the Company classifies its derivative assets valuation in Level 2 of the fair value hierarchy.

The total principal balance of our Notes and other debt was $3.65 billion at June 30, 2015, with a fair value of $3.56 billion, based on Level 2 inputs.

Concentration of Credit Risks—In connection with the Spin-Off, we entered into a long-term exclusive triple-net lease agreement with Windstream (the “Master Lease”), pursuant to which all real property currently owned by CS&L is leased to Windstream and from which all of CS&L’s rental revenues are currently derived. Windstream is a publicly traded company and is subject to the periodic filing requirements of the Securities Exchange Act of 1934, as amended. Windstream filings can be found at www.sec.gov. Windstream filings are not incorporated by reference in this Quarterly Report on Form 10-Q.

Because substantially all of our revenue is derived from lease payments by Windstream pursuant to the Master Lease, there could be a material adverse impact on our consolidated results of operations, liquidity and/or financial condition if Windstream experiences operating difficulties and becomes unable to generate sufficient cash to make payments to us. In recent years, Windstream has experienced annual declines in its total revenue and sales. Accordingly, we monitor the credit quality of Windstream through numerous methods, including by (i) reviewing the credit ratings of Windstream by nationally recognized credit rating agencies, (ii) reviewing the financial statements of Windstream that are publicly available and that are required to be delivered to us pursuant to the Master Lease, (iii) monitoring news reports regarding Windstream and its businesses, (iv) conducting research to ascertain industry trends potentially affecting Windstream, and (v) monitoring the timeliness of its lease payments.

Recently Issued Accounting Standards—In April 2015, the FASB issued Accounting Standards Update (“ASU”) 2015-03, Simplifying the Presentation of Debt Issuance Costs (“ASU 2015-03”), which requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. The recognition and measurement guidance for debt issuance costs are not affected. This guidance is effective for financial statements issued for fiscal years beginning after December 15, 2015; however, early adoption is permitted. We have adopted ASU 2015-03 effective April 24, 2015, and therefore have presented debt issuance costs as a direct deduction from the carrying amount of our debt on our Condensed Consolidated Balance Sheet. See Note 7.

In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (“ASU 2014-09”). This update outlines a single comprehensive revenue recognition model for entities to follow in accounting for revenue from contracts with customers and supersedes most current revenue recognition guidance, including industry-specific guidance. The core principle of the revenue model is that an entity should recognize revenue for the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled to receive for those goods or services. ASU 2014-09 is effective for annual periods beginning after December 15, 2017 and interim periods within those annual periods. Early adoption is permitted for public companies for annual periods beginning after December 15, 2016. Management is in the process of determining the method of adoption and assessing the impact of ASU 2014-09 on our financial statements.

Consumer CLEC Business

Summary Of Significant Accounting Policies [Line Items]

Summary of Significant Accounting Policies

Note 3. 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.

Accounts Receivable—Accounts receivable consist of trade account receivable from customers and are generally unsecured and due within 30 days. Expected credit losses related to trade accounts receivable are recorded as an allowance for doubtful accounts in the accompanying Statement of Assets Contributed and Liabilities Assumed. In establishing the allowance for doubtful accounts, management considers a number of factors, including historical collection experience, aging of the accounts receivable balances and current economic conditions. When internal collection efforts on accounts have been exhausted, the accounts are written off by reducing the allowance for doubtful accounts. The provision for doubtful accounts, which is included in cost of service, was $28,000 and $111,000 for the period from April 1, 2015 to Spin Date and the period from January 1, 2015 to Spin Date, respectively. For the three and the six-months ended June 30, 2014, the provision for doubtful accounts was $34,000 and $183,000, respectively. Concentration of credit risk with respect to accounts receivable is limited because a large number of geographically diverse customers make up the Consumer CLEC Business customer base. Due to varying customer billing cycle cut-off, management must estimate service revenues earned but not yet billed at the end of each reporting period. Included in accounts receivable are unbilled receivables related to communications services and product sales of $94,000 at December 31, 2014.

Customer List Intangible Assets—Windstream acquired certain consumer CLEC operations and customers through various acquisitions completed prior to 2011. In connection with the purchase price allocation for these acquisitions, Windstream recorded the estimated fair value of consumer CLEC customer list intangible assets at the dates of acquisition. The customer list intangible assets are presented in the financial statements at cost less accumulated amortization and are amortized using the sum-of-the-digits method over their estimated useful lives.

Income Taxes—The operations of the Consumer CLEC Business have historically been included in Windstream’s federal and state income tax returns and all income tax liabilities have been paid by Windstream. Income tax information included in the financial statements is presented on a separate tax return basis. Management believes that the assumptions and estimates used to determine the tax amounts are reasonable. However, the financial statements herein may not necessarily reflect the income tax liabilities or future income tax payments if the Consumer CLEC Business had been operated as a stand-alone business during the periods presented.

Deferred income taxes are recognized in accordance with guidance on accounting for income taxes under the asset and liability method. 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. 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.

Revenue Recognition—Service revenues are primarily derived from providing access to or usage of leased networks and facilities. Service revenues are recognized over the period that the corresponding services are rendered to customers. Revenues derived from other telecommunications services, including broadband, long distance and enhanced service revenues are recognized monthly as services are provided. Sales of customer premise equipment and modems are recognized when products are delivered to and accepted by customers.

Recently Issued Accounting Standards—In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers (“ASU 2014-09”). The standard outlines a single comprehensive revenue recognition model for entities to follow in accounting for revenue from contracts with customers and supersedes most current revenue recognition guidance, including industry-specific guidance. The core principle of the revenue model is that an entity should recognize revenue for the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled to receive for those goods or services. ASU 2014-09 is effective for annual periods beginning after December 15, 2017 and interim periods within those annual periods. Early adoption is permitted for public companies for annual periods beginning after December 15, 2016.

Subsequent Events—The accompanying financial statements of the Consumer CLEC Business are derived from the consolidated financial statements of Windstream, which issued its interim unaudited consolidated financial statements as of and for the quarterly period ended June 30, 2015 on August 6, 2015. Accordingly, management has evaluated transactions for consideration as recognized subsequent events in the accompanying financial statement through the date of August 6, 2015. In addition, management has evaluated transactions that occurred as of the issuance of these financial statements on August 13, 2015 for purposes of disclosure of unrecognized subsequent events.

Distribution Systems

Summary Of Significant Accounting Policies [Line Items]

Summary of Significant Accounting Policies

3. 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, and disclosure of contingent assets and liabilities. The estimates and assumptions used in the accompanying financial statement are based upon management’s evaluation of the relevant facts and circumstances as of the date of the financial statement. Actual results may differ from the estimates and assumptions used in preparing the accompanying financial statement, and such differences could be material.

Property, Plant and Equipment—Property, plant and equipment are stated at original cost, less accumulated depreciation. Property, plant and equipment consists of land and central office buildings, copper and fiber optic cable lines, telephone poles, underground conduits, concrete pads, pedestals, guy wires, anchors, and attachment hardware. The costs of additions, replacements, substantial improvements and extension of the network to the customer premise, including related labor costs, are capitalized, while the costs of maintenance and repairs are expensed as incurred. Interest costs incurred in connection with the acquisition or construction of plant assets are capitalized and included in the cost of the asset.

Certain property, plant and equipment 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, depreciation is computed using the straight-line method over the estimated useful life of the respective property, and 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.

Impairment of Long-Lived Assets—Management reviews 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 expected to be generated by the asset group. 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.

Subsequent Events—The accompanying balance sheet is derived from the consolidated financial statements of Windstream, which issued its interim unaudited consolidated financial statements as of and for the quarterly period ended June 30, 2015 on August 6, 2015. Accordingly, management has evaluated transactions for consideration as recognized subsequent events in the accompanying financial statement through the date of August 6, 2015. In addition, management has evaluated transactions that occurred as of the issuance of these financial statements on August 13, 2015 for purposes of disclosure of unrecognized subsequent events. No additional disclosures are required other than those matters that are reflected within this financial statement.

Real Estate Investments

2 Months Ended

Jun. 30, 2015

Real Estate [Abstract]

Real Estate Investments

Note 4. Real Estate Investments

The carrying value of real estate investments is as follows:

(Thousands)	Depreciable Lives	June 30, 2015
Land		$	32,669
Building and improvements	3 - 40 years		310,171
Poles	13 - 40 years		224,322
Fiber	7 - 40 years		1,872,728
Copper	7 - 40 years		3,451,229
Conduit	13 - 47 years		89,465
Construction in progress			16,854
			5,997,438
Less accumulated depreciation			(3,557,112	)
Net real estate investments		$	2,440,326

Depreciation expense for the period from April 24, 2015 to June 30, 2015 was $63.8 million.

Construction in progress represents in process capital projects that were transferred to us at Spin-Off. As Windstream completes these projects, amounts are reclassified to depreciable assets. We currently do not engage in any construction or development activities.

Derivative Instruments and Hedging Activities

2 Months Ended

Jun. 30, 2015

Derivative Instruments And Hedging Activities Disclosure [Abstract]

Derivative Instruments and Hedging Activities

Note 5. Derivative Instruments and Hedging Activities

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

On April 27, 2015 we entered into interest rate swap agreements to mitigate the interest rate risk inherent in our variable rate Senior Secured Term Loan B facility. These interest rate swaps are designated as cash flow hedges and have a notional value of $2.14 billion and mature on October 24, 2022. The weighted average fixed rate paid is 2.105%, and the variable rate received resets monthly to the one-month LIBOR subject to a minimum rate of 1.0%. The Company does not currently have any master netting arrangements related to its derivative contracts.

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

(Thousands)		Location on Condensed Consolidated Balance Sheet		June 30, 2015
Interest rate swaps		Derivative asset		$	28,551

As of June 30, 2015, all of the interest rate swaps were valued in net unrealized gain positions and recognized as asset balances within the derivative asset balance. For the period from April 24, 2015 to June 30, 2015, the amount recorded in other comprehensive income related to the unrealized gain on derivative instruments was $32.9 million. The amount reclassified out of other comprehensive income into interest expense on our Condensed Consolidated Statement of Income was $4.3 million. For the period from April 24, 2015 to June 30, 2015, there was no ineffective portion of the change in fair value derivatives.

Amounts reported in accumulated other comprehensive income related to derivatives will be reclassified to interest expense as interest payments are made on our variable-rate debt. During the next twelve months, beginning July 1, 2015, we estimate that $22.8 million will be reclassified as an increase to interest expense.

- Definition

The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts.

+ References

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+ Details

Customer List Intangible Assets

2 Months Ended

4 Months Ended

Jun. 30, 2015

Apr. 23, 2015

Finite Lived Intangible Assets [Line Items]

Customer List Intangible Assets

Note 6. Customer List Intangible Assets

The carrying value of the customer list intangible assets is as follows:

	June 30, 2015
	Gross		Accumulated			Net Carrying
(Thousands)	Cost		Amortization			Value
Customer lists	$	34,501	$	(22,043	)	$	12,458

Amortization expense for the customer list intangible assets was $0.6 million for the period from April 24, 2015 to June 30, 2015. Amortization expense is estimated to be $2.6 million for the full year of 2015, $3.3 million in 2016, $2.6 million in 2017, $2.0 million in 2018 and $1.4 million in 2019.

Consumer CLEC Business

Finite Lived Intangible Assets [Line Items]

Customer List Intangible Assets

Note 4. Customer List Intangible Assets

The carrying value of the customer list intangible assets at December 31, 2014 was as follows:

	December 31, 2014
	Gross		Accumulated			Net Carrying
(Thousands)	Cost		Amortization			Value
Customer lists	$	34,501	$	(20,049	)	$	14,452

Amortization expense for the customer list intangible assets was $0.3 million and $1.3 million for the period from April 1, 2015 to the Spin Date and January 1, 2015 to the Spin Date, respectively. Amortization expense for the customer list intangible assets was $1.1 million and $2.3 million for the three and six months ended June 30, 2014, respectively

Notes and Other Debt

2 Months Ended

Jun. 30, 2015

Long Term Debt [Abstract]

Notes and Other Debt

Note 7. Notes and Other Debt

Notes and other debt is as follows:

(Thousands)	June 30, 2015
Principal amount	$	3,650,000
Less unamortized discount and debt issuance costs		(141,315	)
Notes and other debt less unamortized discount and debt issuance costs	$	3,508,685

Notes and other debt at June 30, 2015 consisted of the following:

(Thousands)	Principal		Unamortized Discount and Debt Issuance Costs
Senior secured notes - 6.00% , due April 15, 2023 (discount is based on imputed interest rate of 6.29%)	$	400,000	$	(7,127	)
Senior unsecured notes - 8.25%, due October 15, 2023 (discount is based on imputed interest rate of 9.06%)		1,110,000		(52,252	)
Senior secured term loan B - variable rate, due October 24, 2022 (discount is based on imputed interest rate of 5.66%)		2,140,000		(81,936	)
Senior secured revolving credit facility, variable rate, due April 24, 2020		-		-
Total	$	3,650,000	$	(141,315	)

On April 24, 2015 we, along with our wholly owned subsidiary CSL Capital, LLC (“CSL Capital”), co-issued $400 million aggregate principal amount of 6.00% Senior Secured Notes due April 15, 2023 (the “Secured Notes”) and $1.11 billion aggregate principal amount of 8.25% Senior Unsecured Notes due October 15, 2023 (the “Senior Notes” and together with the Secured Notes, the “Notes”). The Secured Notes were issued at an issue price of 100% of par value, while the Senior Notes were issued at an issue price of 97.055% of par value. The Notes are guaranteed by each of CS&L’s wholly-owned domestic subsidiaries that guarantee indebtedness under CS&L’s senior credit facilities. The Notes were issued to Windstream Services as partial consideration for the contribution of the Distribution Systems and the Consumer CLEC Business in connection with the Spin-Off. As such, CS&L did not receive any proceeds from the issuance of the Notes. The issuance of the Notes and their exchange by Windstream Services for certain of its outstanding indebtedness were not registered under the Securities Act of 1933, as amended (the “Securities Act”), but were exempt from registration under Rule 144A, Regulation S and other applicable exemptions of the Securities Act. Pursuant to a registration rights agreement entered into by the Company in connection with the sale of the Senior Notes, the Company subsequently filed with the SEC a registration statement relating to an exchange offer pursuant to which exchange notes registered with the SEC, containing substantially identical terms to the Senior Notes, will be offered in exchange for Senior Notes that are tendered by the holders of those notes.

The Notes contain customary high yield covenants limiting our ability 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 our assets; and create restrictions on the ability of the CS&L, CSL Capital and our restricted subsidiaries to pay dividends. The covenants are subject to a number of important and significant limitations, qualifications and exceptions. As of June 30, 2015, we were in compliance with all of the covenants under the Notes.

In addition, on April 24, 2015 the Company and CSL Capital entered into a credit agreement (the “Credit Agreement”), which provides for a $2.14 billion Senior Secured Term Loan B facility due October 24, 2022 (the “Term Loan Facility”) and a $500 million senior secured revolving credit facility maturing April 24, 2020 (the “Revolving Credit Facility” and, together with the Term Loan Facility, the “Facilities”). The term loans under the Facilities were issued at an issue price of 98.00% of par value, bear interest at a rate equal to a Eurodollar rate, subject to a 1.0% floor, plus an applicable margin equal to 4.00%, and are subject to amortization of 1.0% per annum. The loans have been incurred by the Company and CSL Capital, are guaranteed by certain of CS&L’s wholly-owned subsidiaries (the “Guarantors”), and are secured by substantially all of the assets of CS&L, CSL Capital and the Guarantors, subject to certain exceptions, which assets also secure the Secured Notes. The Revolving Credit Facility bears interest at a rate equal to LIBOR plus 1.75% to 2.25% based on our consolidated secured leverage ratio, as defined in the Credit Agreement.

We 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 incremental term loan borrowings and/or increased commitments under the Credit Agreement in an aggregate amount equal to $150 million plus, an unlimited amount, so long as, on a pro forma basis after giving effect to any such increases, our consolidated total leverage ratio, as defined in the Credit Agreement, does not exceed 6.50 to 1.00 and our consolidated secured leverage ratio, as defined, does not exceed 4.00 to 1.00. As of June 30, 2015, we were in compliance with all of the covenants under the Credit Agreement.

The Company transferred $1.04 billion of cash proceeds under the Facilities to Windstream Services, the Company’s parent immediately preceding the Spin-Off, as partial consideration for the contribution of the Distribution Systems and the Consumer CLEC Business in connection with the Spin-Off. After giving effect to the borrowings under the Facilities, the issuance of the Notes and the transfer of cash to Windstream Services, the Company retained net borrowing proceeds of $62.2 million, which are available to us for general corporate purposes.

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 Condensed Consolidated Statement of Income. For the period from April 24, 2015 to June 30, 2015, we recognized $1.3 million of non-cash interest expense related to the amortization of deferred financing costs.

Stock-Based Compensation

2 Months Ended

Jun. 30, 2015

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Stock-Based Compensation

Note 8. Stock-Based Compensation

The Company’s Board of Directors has adopted the 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.

In connection with the Spin-Off, the Company issued 538,819 restricted shares and 70,889 performance-based restricted stock units to employees of Windstream in accordance with the terms of the Employee Matters Agreement between the Company and Windstream. Under the Employee Matters Agreement, which governs the compensation and employee benefit obligations of CS&L and Windstream with respect to the current and former employees of each company, employees of Windstream who held equity awards as of the date of the Spin-Off were entitled to receive equity awards of CS&L in the same proportion as if the equity awards had been common shares on the date of the Spin-Off. The CS&L awards issued have the same form and vesting requirements as the underlying Windstream awards. For the purposes of vesting in the CS&L awards, continued service with Windstream is deemed to be continued service with CS&L. We do not recognize any compensation expense in our Condensed Consolidated Statement of Income related to these awards, as none of the employees granted awards provide service to CS&L. At June 30, 2015, 511,387 restricted shares, and 63,723 performance-based restricted stock units issued to Windstream employees remained outstanding.

Certain employees of CS&L have retained their unvested Windstream awards that were held prior to the Spin-Off. Unrecognized compensation expense related to these awards was $0.3 million at June 30, 2015, and will be amortized to compensation expense in our Condensed Consolidated Statement of Income on a straight-line basis over the vesting period. For the period from April 24, 2015 to June 30, 2015, we recognized $53,000 of compensation expense related to these awards, which is recorded in general and administrative expense on our Condensed Consolidated Statement of Income.

Restricted Awards

During the period April 24, 2015 to June 30, 2015, the Company granted 229,080 shares of restricted stock to employees, which had a fair value of $5.9 million as of the date of grant. The restricted stock awards are amortized on a straight-line basis to expense over the vesting period. 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
Unvested balance April 24, 2015		-	$	-
Granted		229,080	$	26.13
Forfeited		-	$	-
Vested		-	$	-
Unvested balance, June 30, 2015		229,080	$	26.13

As of June 30, 2015, total unrecognized compensation expense on restricted awards was approximately $5.6 million, and the weighted average vesting period was 2.9 years.

Performance Awards

The Company grants long-term incentives to members of management in the form of performance-based restricted stock units (“PSUs”) under the Equity Plan. The number of PSUs earned is based on the Company’s achievement of specified performance goals, over a specified performance period, and may range from 0% to 150% 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 quarterly and paid in cash upon the vesting of a PSU. Dividend equivalents are forfeited to the extent that the underlying PSU is forfeited.

On May 29, 2015, we issued 60,970 PSUs equal to 100% of the target amount, with an aggregate value of $1.3 million on the grant date. The PSUs, in addition to a service condition, are subject to the Company’s performance versus the total return version of the RMZ Market Equity REIT Index and a triple-net lease peer group, as defined by the Compensation Committee, which are market conditions and impacts the number of shares that ultimately vest. 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 based over the vesting period. During the period from April 24, 2015 to June 30, 2015, no PSUs were forfeited due to termination of service.

As of June 30, 2015, total unrecognized compensation expense related to PSUs was approximately $1.3 million, and the weighted-average vesting period was 2.9 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 period from April 24, 2015 to June 30, 2015:

	April 24, 2015 - June 30, 2015
Expected term (years)		2.9
Expected volatility		26.6	%
Expected annual dividend		0.0	%
Risk free rate		0.9	%

For the period April 24, 2015 to June 30, 2015, we recognized $0.3 million of compensation expense related to restricted stock awards and performance-based awards, which is recorded in general and administrative expense on our condensed consolidated statement of income.

Related Party Transactions	2 Months Ended
Related Party Transactions	Jun. 30, 2015
Related Party Transactions [Abstract]
Related Party Transactions	Note 9. Related Party Transactions In connection with the Spin-Off, we issued approximately 149.8 million shares of our common stock, par value $0.0001 per share, to Windstream as partial consideration for the contribution of the Distribution Systems and the Consumer CLEC Business. Windstream Holdings distributed approximately 80.4% of the CS&L shares it received to existing stockholders of Windstream Holdings and retained a passive ownership interest of approximately 19.6% of the common stock of CS&L. As a result of this ownership Windstream is deemed to be a related party. Our Condensed Consolidated Financial Statements reflect the following transactions with Windstream. Revenues – The Company records leasing revenue pursuant to the Master Lease. For the period from April 24, 2015 to June 30, 2015, we recognized leasing revenues of $124.2 million related to the Master Lease. General and Administrative Expenses –We are party to a Transition Services Agreement (“TSA”) pursuant to which Windstream and its affiliates provides, on an interim basis, various services, including but not limited to information technology services, payment processing and collection services, financial and tax services, regulatory compliance and other support services. For the period from April 24, 2015 to June 30, 2015 we incurred $33 thousand of expense under the TSA. CLEC Operating Expenses –We are party to a Wholesale Master Services Agreement (“Wholesale Agreement”) and a Master Services Agreement with Windstream related to the Consumer CLEC Business. Under the Wholesale Agreement, Windstream provides us transport services (local and long distance telecommunications service), provisioning services (directory assistance, directory listing, service activation and service changes), and repair services (routine and emergency network maintenance, network audits and network security). Under the Master Services Agreement, Windstream provides billing and collections services to CS&L. For the period from April 24, 2015 to June 30, 2015 we incurred expenses of $2.8 million and $0.3 million related to the Wholesale Agreement and Master Services Agreement, respectively. At June 30, 2015 there was a $13.0 million dividend payable to Windstream related to the pro-rata dividend declared on May 6, 2015, based on Windstream ownership of CS&L shares as of the June 30, 2015 record date. In addition, there was $0.8 million accounts receivable from Windstream related to the collection of Consumer CLEC Business revenues, net of amounts owed to Windstream under the Wholesale Agreement and Master Services Agreement recorded in accounts receivable on our Condensed Consolidated Balance Sheet.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References + Details

Earnings Per Share

2 Months Ended

Jun. 30, 2015

Earnings Per Share [Abstract]

Earnings Per Share

Note 10. Earnings Per Share

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

We also issue PSUs; however these units contain forfeitable rights to receive dividends and are therefore considered non-participating restrictive shares and are not dilutive under the two-class method until performance conditions are met.

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

(Thousands, except per share data)	April 24 - June 30, 2015
Basic earnings per share:
Numerator:
Net income	$	8,301
Less: Income allocated to participating securities		(325	)
Net income applicable to common shares	$	7,976
Denominator:
Basic weighted-average common shares outstanding		149,827
Basic earnings per common share	$	0.05

(Thousands, except per share data)	April 24 - June 30, 2015
Diluted earnings per share:
Numerator:
Net income	$	8,301
Less: Income allocated to participating securities		(325	)
Net income applicable to common shares	$	7,976
Denominator:
Basic weighted-average common shares outstanding		149,827
Effect of dilutive non-participating securities		-
Weighted-average shares for dilutive earnings per common share		149,827
Dilutive earnings per common share	$	0.05

Segment Information

2 Months Ended

Jun. 30, 2015

Segment Reporting [Abstract]

Segment Information

Note 11. Segment Information

Our management, including our chief executive officer, who is our chief operating decision maker, manages our operations as two reportable business segments: Leasing and Consumer CLEC. Our Leasing segment represents our REIT operations and corporate expenses not directly attributable to the Consumer CLEC segment. The Consumer CLEC segment represents the operations of our Consumer CLEC Business and corporate expenses directly attributable to the operation of that business. We evaluate the performance of each segment based on Adjusted EBITDA, which is an operating performance measure defined 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 and transaction related expenses, the write off of unamortized deferred financing costs, costs incurred as a result of the early repayment of debt, changes in the fair value of contingent consideration and financial instruments, and other similar items. 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.

(Thousands)	Leasing Operations		Consumer CLEC		Subtotal of Reportable Segments
Revenues	$	124,172	$	4,576	$	128,748
Adjusted EBITDA		121,349		835		122,184

Depreciation and amortization		63,801		643		64,444
Interest expense						48,797
Acquisition and transaction related costs						73
Stock-based compensation						338
Income tax expense						231
Net income					$	8,301

Total assets		2,629,399		16,241		2,645,640
Capital expenditures		397		-		397

- 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.

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+ Details

Commitment and Contingencies	2 Months Ended
Commitment and Contingencies	Jun. 30, 2015
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 12. Commitments and Contingencies 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. Windstream has requested, and we have agreed, to fund up to $50 million of capital expenditures during the remainder of 2015. Monthly rent paid by Windstream will increase in accordance with the Master Lease effective as of the date of the funding. As of June 30, 2015,we have not funded any amounts under this commitment.

Accumulated Other Comprehensive Income

2 Months Ended

Jun. 30, 2015

Accumulated Other Comprehensive Income Loss Net Of Tax [Abstract]

Accumulated Other Comprehensive Income

Note 13. Accumulated Other Comprehensive Income

Changes in accumulated other comprehensive income by component is as follows:

(Thousands)	Changes in Fair Value of Effective Cash Flow Hedge			Total
Balance at April 24, 2015	$	-		$	-
Other comprehensive income before reclassifications		32,821			32,821
Amounts reclassified from accumulated other comprehensive income		(4,270	)		(4,270	)
Balance at June 30, 2015	$	28,551		$	28,551

- Definition

The entire disclosure for comprehensive income, which includes, but is not limited to, 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income.

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+ Details

Supplemental Guarantor Information

2 Months Ended

Jun. 30, 2015

Condensed Financial Information Of Parent Company Only Disclosure [Abstract]

Supplemental Guarantor Information

Note 14. Supplemental Guarantor Information

In connection with the issuance of our 6.00% Senior Secured Notes due 2023, 8.25% Senior Unsecured Notes due 2023 and Term Loan B Facility due 2022, the Guarantors provided guarantees of that indebtedness. These guarantees are full and unconditional as well as joint and several. All property assets and related operations of the Guarantors are pledged as collateral under these obligations and the Guarantors are subject to restrictions on certain investments and payments. Subject to the terms and provisions of the debt agreements, in certain circumstances, a Guarantor may be released from its guarantee obligation including, upon the sale or transfer of any portion of its equity interest or all or substantially all its property, and upon any Guarantor being designated an Unrestricted Subsidiary or otherwise no longer being required to remain a Guarantor given its size or regulatory restrictions.

The following information summarizes our condensed consolidating information as of June 30, 2015 and for the period from April 24, 2015 to June 30, 2015:

	Condensed Consolidated Balance Sheet As of June 30, 2015
(Thousands)	CS&L			CSL Capital			Guarantors		Non-Guarantors		Eliminations			Consolidated
Assets:
Real estate investments, net of accumulated depreciation	$	-		$	-		$	1,907,626	$	532,700	$	-		$	2,440,326
Cash and cash equivalents		23			-			154,592		-		-			154,615
Accounts receivable, net		-			-			-		3,507		-			3,507
Affiliate receivable		37,898			-			709		-		(38,607	)		-
Customer list intangible assets, net		-			-			-		12,458		-			12,458
Derivative asset		28,551			28,551			-		-		(28,551	)		28,551
Straight-line rent receivable		-			-			3,200		-		-			3,200
Investment in consolidated subsidiaries		2,561,457			2,561,457			-		-		(5,122,914	)		-
Other assets		19			-			2,689		275		-			2,983
Total Assets	$	2,627,948		$	2,590,008		$	2,068,816	$	548,940	$	(5,190,072	)	$	2,645,640
Liabilities and Shareholders' Deficit:
Accounts payable, accrued expenses and other liabilities	$	21,595		$	48,797		$	8,962	$	2,490	$	(48,797	)	$	33,047
Affiliate payable		393			-			37,898		316		(38,607	)		-
Dividend payable		66,576			-			-		-		-			66,576
Deferred income taxes		-			-			1,939		4,694		-			6,633
Notes and other debt		3,508,685			3,508,685			-		-		(3,508,685	)		3,508,685
Total liabilities		3,597,249			3,557,482			48,799		7,500		(3,596,089	)		3,614,941

Common Stock		150			-			-		-		-			150
Additional paid-in capital		-			-			63		-		(63	)		-
Accumulated other comprehensive income		28,551			28,551			-		-		(28,551	)		28,551
Distributions in excess of earnings		(998,002	)		(996,025	)		2,019,954		541,440		(1,565,369	)		(998,002	)
Total shareholders' deficit		(969,301	)		(967,474	)		2,020,017		541,440		(1,593,983	)		(969,301	)
Total Liabilities and Shareholders' Deficit	$	2,627,948		$	2,590,008		$	2,068,816	$	548,940	$	(5,190,072	)	$	2,645,640

	Condensed Consolidated Statement of Comprehensive Income For the Period from April 24, 2015 to June 30, 2015
(Thousands)	CS&L			CSL Capital		Guarantors		Non-Guarantors			Eliminations			Consolidated
Revenues:
Rental revenues	$	-		$	-	$	124,172	$	-		$	-		$	124,172
Consumer CLEC		-			-		-		4,576			-			4,576
Total revenues		-			-		124,172		4,576			-			128,748
Costs and Expenses:
Interest expense		48,797			48,797		-		-			(48,797	)		48,797
Depreciation and amortization		-			-		46,744		17,700			-			64,444
General and administrative expense		338			-		2,896		-			-			3,234
CLEC operating expense		-			-		-		3,741			-			3,741
Total costs and expenses		49,135			48,797		49,640		21,441			(48,797	)		120,216
Earnings (losses) from consolidated subsidiaries		8,639			57,436		-		-			(66,075	)		-
Income before income taxes		(40,496	)		8,639		74,532		(16,865	)		(17,278	)		8,532
Income tax expense		-			-		94		137			-			231
Net income	$	(40,496	)	$	8,639	$	74,438	$	(17,002	)	$	(17,278	)	$	8,301

Comprehensive Income	$	(11,945	)	$	37,190	$	74,438	$	(17,002	)	$	(45,829	)	$	36,852

	Condensed Consolidated Statement of Cash Flows For the Period from April 24, 2015 to June 30, 2015
(Thousands)	CS&L			CSL Capital		Guarantors			Non-Guarantors		Eliminations		Consolidated
Cash flow from operating activities
Net cash provided by operating activities	$	(61,540	)	$	-	$	154,971		$	-	$	-	$	93,431

Cash flow from investing activities
Consideration paid to Windstream Services		(1,035,029	)		-		-			-		-		(1,035,029	)
Capital expenditures		-			-		(397	)		-		-		(397	)
Net cash used in investing activities		(1,035,029	)		-		(397	)		-		-		(1,035,426	)

Cash flow from financing activities
Proceeds from issuance of Term Loans		1,127,000			-		-			-		-		1,127,000
Deferred financing costs		(29,933	)		-		-			-		-		(29,933	)
Common stock issuance		(456	)		-		-			-		-		(456	)
Cash in-lieu of fractional shares		(19	)		-		-			-		-		(19	)
Net cash provided by investing activities		1,096,592			-		-			-		-		1,096,592

Net increase in cash and cash equivalents		23			-		154,574			-		-		154,597
Cash and cash equivalents, April 24, 2015		-			-		18			-		-		18
Cash and cash equivalents, June 30, 2015	$	23		$	-	$	154,592		$	-	$	-	$	154,615

Subsequent Events	2 Months Ended
Subsequent Events	Jun. 30, 2015
Subsequent Events [Abstract]
Subsequent Events	Note 15. Subsequent Events On July 15, 2015 we paid the previously announced pro-rata dividend of $0.4418 per share payable to shareholders of record at the close of business on June 30, 2015. On August 5, 2015, we and CSL Capital launched an offer to exchange up to $1.11 billion aggregate principal of our registered 8.25% Senior Notes due 2023 (“Exchange Notes”), for a like principal amount of certain of the outstanding Senior Notes. The terms of the Exchange Notes are substantially identical to the terms of the Senior Notes in all material respects, except that the Exchange Notes are registered under the Securities Act and the transfer restrictions, registration rights and additional interest provisions applicable to the Senior Notes do not apply to the Exchange Notes. On August 11, 2015, our Board of Directors declared a regular quarterly cash dividend of $0.60 per share, payable October 15, 2015, to stockholders of record on September 30, 2015.

Description of Business	4 Months Ended
Description of Business	Apr. 23, 2015
Consumer CLEC Business
Description of Business	Note 1. Description of Business Communications Sales & Leasing, Inc. (the “Company,” “CS&L,” “we,” “us” or “our”) was incorporated in the state of Delaware in February 2014 and reorganized in the state of Maryland on September 4, 2014. On April 24, 2015, in connection with the separation and spin-off of CS&L from Windstream Holdings, Inc. (“Windstream Holdings” and together with its consolidated subsidiaries “Windstream”), Windstream contributed certain telecommunications network assets, including fiber and copper networks and other real estate (the “Distribution Systems”) and a small consumer competitive local exchange carrier (“CLEC”) business (the “Consumer CLEC Business”) to CS&L in exchange for cash, shares of common stock of CS&L and certain indebtedness of CS&L (the “Spin-Off”). As a result of the Spin-Off, CS&L is an independent, publicly traded company, primarily engaged in the ownership, acquisition and leasing of communications distribution systems. We generate revenues primarily by leasing communications distribution systems to telecommunications operators in triple-net lease arrangements, under which the tenant is primarily responsible for costs relating to the distribution systems (including property taxes, insurance, and maintenance and repair costs). We intend to elect on our U.S. federal income tax return for the taxable year ending December 31, 2015 to be treated as a real estate investment trust (“REIT”). The Consumer CLEC Business, which historically has been reported as an integrated operation within Windstream, offers voice, broadband, long-distance, and value-added services to residential customers located primarily in rural locations. Substantially all of the network assets used to provide these services to customers are contracted through interconnection agreements with other telecommunications carriers. Prior to the Spin-Off, Windstream ceased accepting new residential customers in the service areas covered by the Consumer CLEC Business. We will elect to treat the Consumer CLEC Business as a “taxable REIT subsidiary” effective on the first day of the first taxable year that CS&L qualifies as a REIT.

Deferred Income Taxes

4 Months Ended

Apr. 23, 2015

Consumer CLEC Business

Deferred Tax Liability [Line Items]

Deferred Income Taxes

Note 5. Deferred Income Taxes

The significant components of the net deferred tax liability at December 31, 2014 were as follows:

(Thousands)	December 31, 2014
Customer list intangible assets	$	(5,523	)
Bad debt reserve		40
Deferred income taxes, net	$	(5,483	)

Deferred tax assets	$	40
Deferred tax liabilities		(5,523	)
Deferred income taxes, net	$	(5,483	)

Allocations	4 Months Ended
Allocations	Apr. 23, 2015
Consumer CLEC Business
Allocations [Line Items]
Allocations	Note 6. Allocations As described in Note 2, the accompanying Statements of Revenues and Direct Expenses of the Consumer CLEC Business include all direct costs incurred in connection with the operation of the Consumer CLEC Business for which specific identification was practicable. In addition, certain costs incurred by Windstream to operate the Consumer CLEC Business for which specific identification was not practicable have been allocated based on revenues and sales. These allocated expenses are included in “Cost of services” and “Selling, general and administrative.” General and administrative costs incurred by Windstream not directly related to the Consumer CLEC Business have not been allocated to these operations. Costs not allocated include amounts related to executive management, accounting, treasury and cash management, data processing, legal, human resources and certain occupancy costs.

Separation from Windstream Holdings Inc and Description of Transferred Assets	12 Months Ended
	Dec. 31, 2014
Distribution Systems
Separation from Windstream Holdings Inc and Description of Transferred Assets	1. Separation from Windstream Holdings, Inc. and Description of Transferred Assets On April, 24, 2015, in connection with the separation and spin-off of Communications Sales & Leasing, Inc. (“CS&L”), from Windstream Holdings, Inc. (“Windstream Holdings” and together with its subsidiaries, “Windstream”), Windstream contributed certain telecommunications network assets, including fiber and copper network and other real estate (the “Distribution Systems”), and a small competitive local exchange carrier (“CLEC”) business to CS&L in exchange for cash, shares of common stock of CS&L and certain indebtedness of CS&L. Windstream Holdings distributed approximately 80.4% of the outstanding common stock of CS&L that it received to existing stockholders of Windstream Holdings in a tax-free spin-off (the “Spin-Off”). As a result of the Spin-Off, CS&L is an independent, publicly traded company, primarily engaged in leasing activities, which currently principally consists of leasing back to Windstream the Distribution Systems through a triple-net master lease agreement (the “Master Lease”).

Property, Plant and Equipment

12 Months Ended

Dec. 31, 2014

Distribution Systems

Property, Plant and Equipment

4. Property, Plant and Equipment

Net property, plant and equipment consisted of the following:

($ in Millions)	Depreciable Lives	December 31, 2014
Land		$	33.0
Building and Improvements	3 - 40 years		305.5
Poles	13 - 40 years		223.0
Fiber	7 - 40 years		1,841.2
Copper	7 - 40 years		3,430.8
Conduit	13 - 47 years		89.2
Construction in progress			34.0
			5,956.7
Less accumulated depreciation			(3,384.9	)
Net property, plant and equipment		$	2,571.8

Summary of Significant Accounting Policies (Policies)

2 Months Ended

4 Months Ended

12 Months Ended

Jun. 30, 2015

Apr. 23, 2015

Dec. 31, 2014

Summary Of Significant Accounting Policies [Line Items]

Use of Estimates

Real Estate Investments

Tenant Capital Improvements

Impairment of Long-Lived Assets

Cash and Cash Equivalents

Derivative Instruments and Hedging Activities

Customer List Intangible Assets

Revenue Recognition

Stock-Based Compensation

Income Taxes

We currently have no liabilities for uncertain income tax positions. We have not yet filed our initial corporate tax return and therefore are not yet subject to examination.

Earnings per Share

Fair Value of Financial Instruments

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

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

Level 3 – Unobservable inputs for the asset or liability

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

The following table summarizes the valuation of our financial instruments at June 30, 2015:

(Thousands)	Total		Quoted Prices in Active Markets (Level 1)		Prices with Other Observable Inputs (Level 2)		Prices with Unobservable Inputs (Level 3)
Assets
Cash and cash equivalents	$	154,615	$	154,615	$	-	$	-
Accounts and other receivables		3,507		3,507		-		-
Derivative asset		28,551		-		28,551		-
Total	$	186,673	$	158,122	$	28,551	$	-


Liabilities
Senior secured notes - 6.00% , due April 15, 2023	$	389,000	$	-	$	389,000	$	-
Senior unsecured notes - 8.25%, due October 15, 2023		1,082,250		-		1,082,250		-
Senior secured term loan B - variable rate, due October 24, 2022		2,086,500		-		2,086,500		-
Accounts and interest payable		33,047		33,047		-		-
Total	$	3,590,797	$	33,047	$	3,557,750	$	-

The total principal balance of our Notes and other debt was $3.65 billion at June 30, 2015, with a fair value of $3.56 billion, based on Level 2 inputs.

Concentration of Credit Risks

Recently Issued Accounting Standards

Consumer CLEC Business

Summary Of Significant Accounting Policies [Line Items]

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.

Customer List Intangible Assets

Revenue Recognition

Income Taxes

Recently Issued Accounting Standards

Accounts Receivable

Subsequent Events

Distribution Systems

Summary Of Significant Accounting Policies [Line Items]

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, and disclosure of contingent assets and liabilities. The estimates and assumptions used in the accompanying financial statement are based upon management’s evaluation of the relevant facts and circumstances as of the date of the financial statement. Actual results may differ from the estimates and assumptions used in preparing the accompanying financial statement, and such differences could be material.

Impairment of Long-Lived Assets

Subsequent Events

Property, Plant and Equipment

Summary of Significant Accounting Policies (Tables)

2 Months Ended

Jun. 30, 2015

Accounting Policies [Abstract]

Schedule of Valuation of Financial Instruments

The following table summarizes the valuation of our financial instruments at June 30, 2015:

(Thousands)	Total		Quoted Prices in Active Markets (Level 1)		Prices with Other Observable Inputs (Level 2)		Prices with Unobservable Inputs (Level 3)
Assets
Cash and cash equivalents	$	154,615	$	154,615	$	-	$	-
Accounts and other receivables		3,507		3,507		-		-
Derivative asset		28,551		-		28,551		-
Total	$	186,673	$	158,122	$	28,551	$	-


Liabilities
Senior secured notes - 6.00% , due April 15, 2023	$	389,000	$	-	$	389,000	$	-
Senior unsecured notes - 8.25%, due October 15, 2023		1,082,250		-		1,082,250		-
Senior secured term loan B - variable rate, due October 24, 2022		2,086,500		-		2,086,500		-
Accounts and interest payable		33,047		33,047		-		-
Total	$	3,590,797	$	33,047	$	3,557,750	$	-

Real Estate Investments (Tables)

2 Months Ended

Jun. 30, 2015

Real Estate [Abstract]

Schedule of Carrying Value of Real Estate Investments

The carrying value of real estate investments is as follows:

(Thousands)	Depreciable Lives	June 30, 2015
Land		$	32,669
Building and improvements	3 - 40 years		310,171
Poles	13 - 40 years		224,322
Fiber	7 - 40 years		1,872,728
Copper	7 - 40 years		3,451,229
Conduit	13 - 47 years		89,465
Construction in progress			16,854
			5,997,438
Less accumulated depreciation			(3,557,112	)
Net real estate investments		$	2,440,326

Derivative Instruments and Hedging Activities (Tables)

2 Months Ended

Jun. 30, 2015

Derivative Instruments And Hedging Activities Disclosure [Abstract]

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

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

(Thousands)		Location on Condensed Consolidated Balance Sheet		June 30, 2015
Interest rate swaps		Derivative asset		$	28,551

Customer List Intangible Assets (Tables)

2 Months Ended

4 Months Ended

Jun. 30, 2015

Apr. 23, 2015

Finite Lived Intangible Assets [Line Items]

Schedule of Carrying Value of the Intangible Assets

The carrying value of the customer list intangible assets is as follows:

	June 30, 2015
	Gross		Accumulated			Net Carrying
(Thousands)	Cost		Amortization			Value
Customer lists	$	34,501	$	(22,043	)	$	12,458

Consumer CLEC Business

Finite Lived Intangible Assets [Line Items]

Schedule of Carrying Value of the Intangible Assets

The carrying value of the customer list intangible assets at December 31, 2014 was as follows:

	December 31, 2014
	Gross		Accumulated			Net Carrying
(Thousands)	Cost		Amortization			Value
Customer lists	$	34,501	$	(20,049	)	$	14,452

Notes and Other Debt (Tables)

2 Months Ended

Jun. 30, 2015

Long Term Debt [Abstract]

Schedule of Notes and Other Debt

Notes and other debt is as follows:

(Thousands)	June 30, 2015
Principal amount	$	3,650,000
Less unamortized discount and debt issuance costs		(141,315	)
Notes and other debt less unamortized discount and debt issuance costs	$	3,508,685

Notes and other debt at June 30, 2015 consisted of the following:

(Thousands)	Principal		Unamortized Discount and Debt Issuance Costs
Senior secured notes - 6.00% , due April 15, 2023 (discount is based on imputed interest rate of 6.29%)	$	400,000	$	(7,127	)
Senior unsecured notes - 8.25%, due October 15, 2023 (discount is based on imputed interest rate of 9.06%)		1,110,000		(52,252	)
Senior secured term loan B - variable rate, due October 24, 2022 (discount is based on imputed interest rate of 5.66%)		2,140,000		(81,936	)
Senior secured revolving credit facility, variable rate, due April 24, 2020		-		-
Total	$	3,650,000	$	(141,315	)

- 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.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6479336&loc=d3e64711-112823

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(e),(f))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=34725769&loc=d3e28878-108400

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21538-112644

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21506-112644

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=6451184&loc=d3e28541-108399

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6451184&loc=d3e28551-108399

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21521-112644

+ Details

Stock-Based Compensation (Tables)

2 Months Ended

Jun. 30, 2015

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

Schedule of Unvested Restricted Stock Awards

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

	Restricted Awards		Weighted Average Fair Value at Grant Date
Unvested balance April 24, 2015		-	$	-
Granted		229,080	$	26.13
Forfeited		-	$	-
Vested		-	$	-
Unvested balance, June 30, 2015		229,080	$	26.13

Performance Awards

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

Schedule of Assumptions used to Value PSUs Granted

The following table summarizes the assumptions used to value the PSUs granted during the period from April 24, 2015 to June 30, 2015

	April 24, 2015 - June 30, 2015
Expected term (years)		2.9
Expected volatility		26.6	%
Expected annual dividend		0.0	%
Risk free rate		0.9	%

Earnings Per Share (Tables)

2 Months Ended

Jun. 30, 2015

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:

(Thousands, except per share data)	April 24 - June 30, 2015
Basic earnings per share:
Numerator:
Net income	$	8,301
Less: Income allocated to participating securities		(325	)
Net income applicable to common shares	$	7,976
Denominator:
Basic weighted-average common shares outstanding		149,827
Basic earnings per common share	$	0.05

(Thousands, except per share data)	April 24 - June 30, 2015
Diluted earnings per share:
Numerator:
Net income	$	8,301
Less: Income allocated to participating securities		(325	)
Net income applicable to common shares	$	7,976
Denominator:
Basic weighted-average common shares outstanding		149,827
Effect of dilutive non-participating securities		-
Weighted-average shares for dilutive earnings per common share		149,827
Dilutive earnings per common share	$	0.05

Segment Information (Tables)

2 Months Ended

Jun. 30, 2015

Segment Reporting [Abstract]

Schedule of Segment Reporting Information

(Thousands)	Leasing Operations		Consumer CLEC		Subtotal of Reportable Segments
Revenues	$	124,172	$	4,576	$	128,748
Adjusted EBITDA		121,349		835		122,184

Depreciation and amortization		63,801		643		64,444
Interest expense						48,797
Acquisition and transaction related costs						73
Stock-based compensation						338
Income tax expense						231
Net income					$	8,301

Total assets		2,629,399		16,241		2,645,640
Capital expenditures		397		-		397

Accumulated Other Comprehensive Income (Tables)

2 Months Ended

Jun. 30, 2015

Accumulated Other Comprehensive Income Loss Net Of Tax [Abstract]

Schedule of Changes in Accumulated Other Comprehensive Income by Component

Changes in accumulated other comprehensive income by component is as follows:

(Thousands)	Changes in Fair Value of Effective Cash Flow Hedge			Total
Balance at April 24, 2015	$	-		$	-
Other comprehensive income before reclassifications		32,821			32,821
Amounts reclassified from accumulated other comprehensive income		(4,270	)		(4,270	)
Balance at June 30, 2015	$	28,551		$	28,551

Supplemental Guarantor Information (Tables)

2 Months Ended

Jun. 30, 2015

Condensed Financial Information Of Parent Company Only Disclosure [Abstract]

Condensed Consolidated Balance Sheet

The following information summarizes our condensed consolidating information as of June 30, 2015 and for the period from April 24, 2015 to June 30, 2015:

	Condensed Consolidated Balance Sheet As of June 30, 2015
(Thousands)	CS&L			CSL Capital			Guarantors		Non-Guarantors		Eliminations			Consolidated
Assets:
Real estate investments, net of accumulated depreciation	$	-		$	-		$	1,907,626	$	532,700	$	-		$	2,440,326
Cash and cash equivalents		23			-			154,592		-		-			154,615
Accounts receivable, net		-			-			-		3,507		-			3,507
Affiliate receivable		37,898			-			709		-		(38,607	)		-
Customer list intangible assets, net		-			-			-		12,458		-			12,458
Derivative asset		28,551			28,551			-		-		(28,551	)		28,551
Straight-line rent receivable		-			-			3,200		-		-			3,200
Investment in consolidated subsidiaries		2,561,457			2,561,457			-		-		(5,122,914	)		-
Other assets		19			-			2,689		275		-			2,983
Total Assets	$	2,627,948		$	2,590,008		$	2,068,816	$	548,940	$	(5,190,072	)	$	2,645,640
Liabilities and Shareholders' Deficit:
Accounts payable, accrued expenses and other liabilities	$	21,595		$	48,797		$	8,962	$	2,490	$	(48,797	)	$	33,047
Affiliate payable		393			-			37,898		316		(38,607	)		-
Dividend payable		66,576			-			-		-		-			66,576
Deferred income taxes		-			-			1,939		4,694		-			6,633
Notes and other debt		3,508,685			3,508,685			-		-		(3,508,685	)		3,508,685
Total liabilities		3,597,249			3,557,482			48,799		7,500		(3,596,089	)		3,614,941

Common Stock		150			-			-		-		-			150
Additional paid-in capital		-			-			63		-		(63	)		-
Accumulated other comprehensive income		28,551			28,551			-		-		(28,551	)		28,551
Distributions in excess of earnings		(998,002	)		(996,025	)		2,019,954		541,440		(1,565,369	)		(998,002	)
Total shareholders' deficit		(969,301	)		(967,474	)		2,020,017		541,440		(1,593,983	)		(969,301	)
Total Liabilities and Shareholders' Deficit	$	2,627,948		$	2,590,008		$	2,068,816	$	548,940	$	(5,190,072	)	$	2,645,640

Condensed Consolidated Statement of Comprehensive Income

	Condensed Consolidated Statement of Comprehensive Income For the Period from April 24, 2015 to June 30, 2015
(Thousands)	CS&L			CSL Capital		Guarantors		Non-Guarantors			Eliminations			Consolidated
Revenues:
Rental revenues	$	-		$	-	$	124,172	$	-		$	-		$	124,172
Consumer CLEC		-			-		-		4,576			-			4,576
Total revenues		-			-		124,172		4,576			-			128,748
Costs and Expenses:
Interest expense		48,797			48,797		-		-			(48,797	)		48,797
Depreciation and amortization		-			-		46,744		17,700			-			64,444
General and administrative expense		338			-		2,896		-			-			3,234
CLEC operating expense		-			-		-		3,741			-			3,741
Total costs and expenses		49,135			48,797		49,640		21,441			(48,797	)		120,216
Earnings (losses) from consolidated subsidiaries		8,639			57,436		-		-			(66,075	)		-
Income before income taxes		(40,496	)		8,639		74,532		(16,865	)		(17,278	)		8,532
Income tax expense		-			-		94		137			-			231
Net income	$	(40,496	)	$	8,639	$	74,438	$	(17,002	)	$	(17,278	)	$	8,301

Comprehensive Income	$	(11,945	)	$	37,190	$	74,438	$	(17,002	)	$	(45,829	)	$	36,852

Condensed Consolidated Statement of Cash Flows

	Condensed Consolidated Statement of Cash Flows For the Period from April 24, 2015 to June 30, 2015
(Thousands)	CS&L			CSL Capital		Guarantors			Non-Guarantors		Eliminations		Consolidated
Cash flow from operating activities
Net cash provided by operating activities	$	(61,540	)	$	-	$	154,971		$	-	$	-	$	93,431

Cash flow from investing activities
Consideration paid to Windstream Services		(1,035,029	)		-		-			-		-		(1,035,029	)
Capital expenditures		-			-		(397	)		-		-		(397	)
Net cash used in investing activities		(1,035,029	)		-		(397	)		-		-		(1,035,426	)

Cash flow from financing activities
Proceeds from issuance of Term Loans		1,127,000			-		-			-		-		1,127,000
Deferred financing costs		(29,933	)		-		-			-		-		(29,933	)
Common stock issuance		(456	)		-		-			-		-		(456	)
Cash in-lieu of fractional shares		(19	)		-		-			-		-		(19	)
Net cash provided by investing activities		1,096,592			-		-			-		-		1,096,592

Net increase in cash and cash equivalents		23			-		154,574			-		-		154,597
Cash and cash equivalents, April 24, 2015		-			-		18			-		-		18
Cash and cash equivalents, June 30, 2015	$	23		$	-	$	154,592		$	-	$	-	$	154,615

Deferred Income Taxes (Tables)

4 Months Ended

Apr. 23, 2015

Consumer CLEC Business

Deferred Tax Liability [Line Items]

Schedule of Components of Net Deferred Tax Liability

The significant components of the net deferred tax liability at December 31, 2014 were as follows:

(Thousands)	December 31, 2014
Customer list intangible assets	$	(5,523	)
Bad debt reserve		40
Deferred income taxes, net	$	(5,483	)

Deferred tax assets	$	40
Deferred tax liabilities		(5,523	)
Deferred income taxes, net	$	(5,483	)

Property, Plant and Equipment (Tables)

12 Months Ended

Dec. 31, 2014

Distribution Systems

Summary of Net Property, Plant and Equipment

Net property, plant and equipment consisted of the following:

($ in Millions)	Depreciable Lives	December 31, 2014
Land		$	33.0
Building and Improvements	3 - 40 years		305.5
Poles	13 - 40 years		223.0
Fiber	7 - 40 years		1,841.2
Copper	7 - 40 years		3,430.8
Conduit	13 - 47 years		89.2
Construction in progress			34.0
			5,956.7
Less accumulated depreciation			(3,384.9	)
Net property, plant and equipment		$	2,571.8

Summary of Significant Accounting Policies - Additional Information (Details) - USD ($)	1 Months Ended	2 Months Ended	3 Months Ended	4 Months Ended	6 Months Ended	12 Months Ended
	Apr. 23, 2015	Jun. 30, 2015	Jun. 30, 2014	Apr. 23, 2015	Jun. 30, 2014	Dec. 31, 2014
Summary Of Significant Accounting Policies [Line Items]
Gain (loss) on disposition of property		$ 0
Provision for doubtful accounts		0
Current liabilities for uncertain income tax positions		$ 0
Federal corporate level tax rate		35.00%
Specified Period For Federal Corporate Tax		10 years
Notes and other debt		$ 3,508,685,000
Consumer CLEC Business
Summary Of Significant Accounting Policies [Line Items]
Provision for doubtful accounts	$ 28,000		$ 34,000	$ 111,000	$ 183,000
Unbilled receivables						$ 94,000
Distribution Systems
Summary Of Significant Accounting Policies [Line Items]
Gain (loss) on disposition of property						$ 0
Prices with Other Observable Inputs (Level 2)
Summary Of Significant Accounting Policies [Line Items]
Notes and other debt		3,650,000,000
Notes and other debt, fair value		$ 3,560,000,000
Minimum
Summary Of Significant Accounting Policies [Line Items]
Percentage of REIT taxable income distributed		90.00%
Real Estate Investments
Summary Of Significant Accounting Policies [Line Items]
Tenant funded capital improvements		$ 6,300,000

Summary of Significant Accounting Policies - Schedule of Valuation of Financial Instruments (Details) $ in Thousands	Jun. 30, 2015 USD ($)
Assets
Cash and cash equivalents	$ 154,615
Accounts and other receivables	3,507
Derivative asset	28,551
Total	186,673
Liabilities
Accounts and interest payable	33,047
Total	3,590,797
6.00% Senior Secured Notes
Liabilities
Senior notes	389,000
8.25% Senior Unsecured Notes
Liabilities
Senior notes	1,082,250
Senior Secured Term Loan B Facility
Liabilities
Senior secured term loan	2,086,500
Quoted Prices in Active Markets (Level 1)
Assets
Cash and cash equivalents	154,615
Accounts and other receivables	3,507
Total	158,122
Liabilities
Accounts and interest payable	33,047
Total	33,047
Prices with Other Observable Inputs (Level 2)
Assets
Derivative asset	28,551
Total	28,551
Liabilities
Total	3,557,750
Prices with Other Observable Inputs (Level 2) \| 6.00% Senior Secured Notes
Liabilities
Senior notes	389,000
Prices with Other Observable Inputs (Level 2) \| 8.25% Senior Unsecured Notes
Liabilities
Senior notes	1,082,250
Prices with Other Observable Inputs (Level 2) \| Senior Secured Term Loan B Facility
Liabilities
Senior secured term loan	$ 2,086,500

Summary of Significant Accounting Policies - Schedule of Valuation of Financial Instruments (Parenthetical) (Details)	2 Months Ended
	Jun. 30, 2015
6.00% Senior Secured Notes
Summary Of Significant Accounting Policies [Line Items]
Issuance senior notes, stated percentage	6.00%
Debt instrument, maturity date	Apr. 15, 2023
8.25% Senior Unsecured Notes
Summary Of Significant Accounting Policies [Line Items]
Issuance senior notes, stated percentage	8.25%
Debt instrument, maturity date	Oct. 15, 2023
Senior Secured Term Loan B Facility
Summary Of Significant Accounting Policies [Line Items]
Debt instrument, maturity date	Oct. 24, 2022

Real Estate Investments - Schedule of Carrying Value of Real Estate Investments (Details) $ in Thousands	2 Months Ended
	Jun. 30, 2015 USD ($)
Real Estate Investments [Line Items]
Real estate investments	$ 5,997,438
Accumulated depreciation real estate investments	(3,557,112)
Net real estate investments	2,440,326
Land
Real Estate Investments [Line Items]
Real estate investments	32,669
Building and Improvements
Real Estate Investments [Line Items]
Real estate investments	310,171
Poles
Real Estate Investments [Line Items]
Real estate investments	224,322
Fiber
Real Estate Investments [Line Items]
Real estate investments	1,872,728
Copper
Real Estate Investments [Line Items]
Real estate investments	3,451,229
Conduit
Real Estate Investments [Line Items]
Real estate investments	89,465
Construction in progress
Real Estate Investments [Line Items]
Real estate investments	$ 16,854
Minimum \| Building and Improvements
Real Estate Investments [Line Items]
Depreciable Lives	3 years
Minimum \| Poles
Real Estate Investments [Line Items]
Depreciable Lives	13 years
Minimum \| Fiber
Real Estate Investments [Line Items]
Depreciable Lives	7 years
Minimum \| Copper
Real Estate Investments [Line Items]
Depreciable Lives	7 years
Minimum \| Conduit
Real Estate Investments [Line Items]
Depreciable Lives	13 years
Maximum \| Building and Improvements
Real Estate Investments [Line Items]
Depreciable Lives	40 years
Maximum \| Poles
Real Estate Investments [Line Items]
Depreciable Lives	40 years
Maximum \| Fiber
Real Estate Investments [Line Items]
Depreciable Lives	40 years
Maximum \| Copper
Real Estate Investments [Line Items]
Depreciable Lives	40 years
Maximum \| Conduit
Real Estate Investments [Line Items]
Depreciable Lives	47 years

Real Estate Investments - Additional Information (Details) $ in Millions	2 Months Ended
	Jun. 30, 2015 USD ($)
Real Estate [Abstract]
Real estate investment, depreciation expense	$ 63.8

Derivative Instruments and Hedging Activities - Additional Information (Details) - USD ($)	2 Months Ended
	Jun. 30, 2015	Apr. 27, 2015
Derivative Instruments And Hedging Activities Disclosures [Line Items]
Unrealized gain on derivative instruments	$ 32,900,000
Ineffective portion of change in fair value derivatives	0
Increase decrease in estimated interest expense	22,800,000
Interest Expense
Derivative Instruments And Hedging Activities Disclosures [Line Items]
Reclassification of other comprehensive income	$ 4,300,000
Interest Rate Swap
Derivative Instruments And Hedging Activities Disclosures [Line Items]
Derivative, notional value		$ 2,140,000,000
Derivative, maturity date	Oct. 24, 2022
Derivative, weighted average fixed rate paid		2.105%
LIBOR, minimum variable rate		1.00%

Derivative Instruments and Hedging Activities - Summary of Fair Value of Derivative Instruments and Presentation in Condensed Consolidated Balance Sheet (Details) $ in Thousands	Jun. 30, 2015 USD ($)
Derivatives Fair Value [Line Items]
Derivative asset	$ 28,551
Interest Rate Swap
Derivatives Fair Value [Line Items]
Derivative asset	$ 28,551

Customer List Intangible Assets - Schedule of Carrying Value of the Intangible Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Finite Lived Intangible Assets [Line Items]
Net Carrying Value	$ 12,458
Consumer CLEC Business
Finite Lived Intangible Assets [Line Items]
Net Carrying Value		$ 14,452
Customer Lists
Finite Lived Intangible Assets [Line Items]
Gross Cost	34,501
Accumulated Amortization	(22,043)
Net Carrying Value	$ 12,458
Customer Lists \| Consumer CLEC Business
Finite Lived Intangible Assets [Line Items]
Gross Cost		34,501
Accumulated Amortization		(20,049)
Net Carrying Value		$ 14,452

Customer List Intangible Assets - Additional Information (Details) - USD ($) $ in Thousands	1 Months Ended	2 Months Ended	3 Months Ended	4 Months Ended	6 Months Ended
	Apr. 23, 2015	Jun. 30, 2015	Jun. 30, 2014	Apr. 23, 2015	Jun. 30, 2014
Consumer CLEC Business
Finite Lived Intangible Assets [Line Items]
Amortization	$ 270		$ 1,174	$ 1,283	$ 2,347
Customer Lists
Finite Lived Intangible Assets [Line Items]
Amortization		$ 600
Estimated amortization expense for 2015		2,600
2016		3,300
2017		2,600
2018		2,000
2019		$ 1,400
Customer Lists \| Consumer CLEC Business
Finite Lived Intangible Assets [Line Items]
Amortization	$ 270		$ 1,174	$ 1,283	$ 2,347

Notes and Other Debt - Schedule of Notes and Other Debt (Details) $ in Thousands	Jun. 30, 2015 USD ($)
Debt Instrument [Line Items]
Principal amount of notes and other debt	$ 3,650,000
Unamortized discount and debt issuance costs	(141,315)
Notes and other debt less unamortized discount and debt issuance costs	3,508,685
Senior Secured Notes - 6.00% Due April 15, 2023
Debt Instrument [Line Items]
Principal amount of notes and other debt	400,000
Unamortized discount and debt issuance costs	(7,127)
Senior Unsecured Notes - 8.25% Due October 15, 2023
Debt Instrument [Line Items]
Principal amount of notes and other debt	1,110,000
Unamortized discount and debt issuance costs	(52,252)
Senior Secured Term Loan B Facility
Debt Instrument [Line Items]
Principal amount of notes and other debt	2,140,000
Unamortized discount and debt issuance costs	$ (81,936)

Notes and Other Debt - Schedule of Notes and Other Debt (Parenthetical) (Details)	2 Months Ended
	Jun. 30, 2015
Senior Secured Notes - 6.00% Due April 15, 2023
Debt Instrument [Line Items]
Issuance senior notes, stated percentage	6.00%
Debt instrument, maturity date	Apr. 15, 2023
Senior Unsecured Notes - 8.25% Due October 15, 2023
Debt Instrument [Line Items]
Issuance senior notes, stated percentage	8.25%
Debt instrument, maturity date	Oct. 15, 2023
Senior Secured Term Loan B Facility
Debt Instrument [Line Items]
Debt instrument, maturity date	Oct. 24, 2022
Senior Secured Revolving Credit Facility
Debt Instrument [Line Items]
Line of credit facility, expiration date	Apr. 24, 2020

Notes and Other Debt - Additional Information (Details) - USD ($)		2 Months Ended
	Apr. 25, 2015	Jun. 30, 2015
Debt Instrument [Line Items]
Amortization of deferred financing costs		$ 1,272,000
Minimum
Debt Instrument [Line Items]
Aggregate borrowing amount	$ 150,000,000
Maximum
Debt Instrument [Line Items]
Consolidated secured leverage ratio	500.00%
Consolidated total leverage ratio	650.00%
Maximum \| Pro Forma
Debt Instrument [Line Items]
Consolidated secured leverage ratio	400.00%
6.00% Senior Secured Notes
Debt Instrument [Line Items]
Issuance senior notes, stated percentage		6.00%
Debt instrument, maturity date		Apr. 15, 2023
8.25% Senior Unsecured Notes
Debt Instrument [Line Items]
Issuance senior notes, stated percentage		8.25%
Debt instrument, maturity date		Oct. 15, 2023
Senior Secured Term Loan B Facility
Debt Instrument [Line Items]
Debt instrument, maturity date		Oct. 24, 2022
CSL Capital, LLC
Debt Instrument [Line Items]
Proceeds from issuance of debt	$ 62,200,000
Term loan issue price as a percentage of par	98.00%
CSL Capital, LLC \| Senior Notes
Debt Instrument [Line Items]
Proceeds from issuance of debt	$ 0
CSL Capital, LLC \| 6.00% Senior Secured Notes
Debt Instrument [Line Items]
Issuance of senior notes, principal amount	$ 400,000,000
Issuance senior notes, stated percentage	6.00%
Debt instrument, maturity date		Apr. 15, 2023
Notes issued price percentage at par	100.00%
CSL Capital, LLC \| 8.25% Senior Unsecured Notes
Debt Instrument [Line Items]
Issuance of senior notes, principal amount	$ 1,110,000,000
Issuance senior notes, stated percentage	8.25%
Debt instrument, maturity date		Oct. 15, 2023
Notes issued price percentage at par	97.055%
CSL Capital, LLC \| Senior Secured Term Loan B Facility
Debt Instrument [Line Items]
Issuance of senior notes, principal amount	$ 2,140,000,000
Debt instrument, maturity period		2022-10
Debt amortization percentage	1.00%
CSL Capital, LLC \| Senior Secured Term Loan B Facility \| Eurodollar
Debt Instrument [Line Items]
Debt instrument, floor rate	1.00%
Debt instrument, basis spread on variable rate	4.00%
CSL Capital, LLC \| Senior Secured Revolving Credit Facility
Debt Instrument [Line Items]
Debt instrument, maturity period		2020-04
Aggregate borrowing amount	$ 500,000,000
CSL Capital, LLC \| Senior Secured Revolving Credit Facility \| Minimum \| London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	1.75%
CSL Capital, LLC \| Senior Secured Revolving Credit Facility \| Maximum \| London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	2.25%
Windstream Services Llc
Debt Instrument [Line Items]
Issuers transferred cash proceeds to parent	$ 1,040,000,000

Stock-Based Compensation - Additional Information (Details) - USD ($)		2 Months Ended
	May 29, 2015	Jun. 30, 2015
Restricted Awards
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized compensation expense		$ 5,600,000
Number of shares granted		229,080
Fair value of shares granted		$ 5,900,000
Weighted average vesting period		2 years 10 months 24 days
Performance Awards
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized compensation expense		$ 1,300,000
Number of shares granted	60,970
Weighted average vesting period		2 years 10 months 24 days
Performance period		3 years
Percentage of target amount	100.00%
Aggregate value	$ 1,300,000
Number of shares forfeited		0
Dividend yield		0.00%
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		150.00%
Unvested Windstream Awards
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized compensation expense		$ 300,000
Unvested Windstream Awards \| General And Administrative Expense
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Compensation expense recognized during the period		53,000
Restricted Stock Awards and Performance-Based Awards \| General And Administrative Expense
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Compensation expense recognized during the period		$ 300,000
Windstream \| Restricted Awards
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares issued		538,819
Shares issued to employees remained outstanding		511,387
Windstream \| Performance Awards
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares issued		70,889
Shares issued to employees remained outstanding		63,723

Stock-Based Compensation - Schedule of Unvested Restricted Stock Awards (Details) - Restricted Awards	2 Months Ended
	Jun. 30, 2015 $ / shares shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares granted \| shares	229,080
Unvested balance, Restricted Awards \| shares	229,080
Granted, Weighted Average Fair Value at Grant Date \| $ / shares	$ 26.13
Unvested balance, Weighted Average Fair Value at Grant Date \| $ / shares	$ 26.13

Stock-Based Compensation - Schedule of Assumptions used to Value PSUs Granted (Details) - Performance Awards	2 Months Ended
	Jun. 30, 2015
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected term (years)	2 years 10 months 24 days
Expected volatility	26.60%
Expected annual dividend	0.00%
Risk free rate	0.90%

Related Party Transactions - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands		2 Months Ended
	Apr. 25, 2015	Jun. 30, 2015
Related Party Transaction [Line Items]
Common stock, shares issued		149,831,654
Common stock, par value		$ 0.0001
General and administrative expense		$ 3,234
Dividend payable		66,576
Windstream
Related Party Transaction [Line Items]
Dividend payable		$ 13,000
Dividend declared date		May 06, 2015
Dividend record date		Jun. 30, 2015
Accounts receivable from related party to the collection of revenues of consumer CLEC business revenues		$ 800
Windstream \| Master Lease
Related Party Transaction [Line Items]
Leasing revenue		124,200
Windstream \| Transitional Service Agreement
Related Party Transaction [Line Items]
General and administrative expense		33
Windstream \| Consumer CLEC Business \| Wholesale Master Services Agreement
Related Party Transaction [Line Items]
CLEC operating expense		2,800
Windstream \| Consumer CLEC Business \| Master Services Agreement
Related Party Transaction [Line Items]
CLEC operating expense		$ 300
Spinoff \| Windstream \| Consumer CLEC Business
Related Party Transaction [Line Items]
Common stock, shares issued	149,800,000
Common stock, par value	$ 0.0001
Common stock, ownership interest percentage	19.60%
Spinoff \| Windstream \| Consumer CLEC Business \| Share Distribution
Related Party Transaction [Line Items]
Percentage of stock distributed	80.40%

Earnings Per Share - Schedule of Earnings Per Share Basic and Diluted (Details) $ / shares in Units, shares in Thousands, $ in Thousands	2 Months Ended
	Jun. 30, 2015 USD ($) $ / shares shares
Numerator:
Net income	$ 8,301
Less: Income allocated to participating securities	(325)
Net income applicable to common shareholders	$ 7,976
Denominator:
Basic \| shares	149,827
Basic earnings per common share \| $ / shares	$ 0.05
Numerator:
Net income	$ 8,301
Less: Income allocated to participating securities	(325)
Net income applicable to common shares	$ 7,976
Denominator:
Basic weighted-average common shares outstanding \| shares	149,827
Weighted-average shares for dilutive earnings per common share \| shares	149,827
Dilutive earnings per common share \| $ / shares	$ 0.05

Segment Information - Additional Information (Details)	2 Months Ended
Segment Information - Additional Information (Details)	Jun. 30, 2015 Segment
Segment Reporting [Abstract]
Number of Reportable Segments	2

Segment Information - Schedule of Segment Information (Details) $ in Thousands	2 Months Ended
	Jun. 30, 2015 USD ($)
Segment Reporting Information [Line Items]
Revenues	$ 128,748
Adjusted EBITDA	122,184
Depreciation and amortization	64,444
Interest expense	48,797
Acquisition and transaction related costs	73
Stock-based compensation	338
Income tax expense	231
Net income	8,301
Total assets	2,645,640
Capital expenditures	397
Leasing Operations
Segment Reporting Information [Line Items]
Revenues	124,172
Adjusted EBITDA	121,349
Depreciation and amortization	63,801
Total assets	2,629,399
Capital expenditures	397
Consumer CLEC
Segment Reporting Information [Line Items]
Revenues	4,576
Adjusted EBITDA	835
Depreciation and amortization	643
Total assets	$ 16,241

Commitments and Contingencies - Additional Information (Details) - Windstream	Jun. 30, 2015 USD ($)
Commitments And Contingencies [Line Items]
Capital expenditures commitment	$ 0
Maximum
Commitments And Contingencies [Line Items]
Capital expenditures commitment remainder of fiscal year	$ 50,000,000

Accumulated Other Comprehensive Income - Schedule of Changes in Accumulated Other Comprehensive Income by Component (Details) $ in Thousands	2 Months Ended
	Jun. 30, 2015 USD ($)
Accumulated Other Comprehensive Income Loss [Line Items]
Ending balance, value	$ (969,301)
Accumulated Net Gain Loss From Designated Or Qualifying Cash Flow Hedges
Accumulated Other Comprehensive Income Loss [Line Items]
Other comprehensive income before reclassifications	32,821
Amounts reclassified from accumulated other comprehensive income	(4,270)
Ending balance, value	28,551
Accumulated Other Comprehensive Income
Accumulated Other Comprehensive Income Loss [Line Items]
Other comprehensive income before reclassifications	32,821
Amounts reclassified from accumulated other comprehensive income	(4,270)
Ending balance, value	$ 28,551

Supplemental Guarantor Information - Additional Information (Details)	Jun. 30, 2015
Senior Secured Notes - 6.00% Due April 15, 2023
Condensed Financial Statements Captions [Line Items]
Senior notes, stated percentage	6.00%
Senior Unsecured Notes - 8.25% Due October 15, 2023
Condensed Financial Statements Captions [Line Items]
Senior notes, stated percentage	8.25%

Supplemental Guarantor Information - Condensed Consolidated Balance Sheet (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Apr. 24, 2015
Assets:
Real estate investments, net of accumulated depreciation	$ 2,440,326
Cash and cash equivalents	154,615	$ 18
Accounts receivable, net	3,507
Customer list intangible assets, net	12,458
Derivative asset	28,551
Straight-line rent receivable	3,200
Other assets	2,983
Total Assets	2,645,640
Liabilities and Shareholders' Deficit:
Accounts payable, accrued expenses and other liabilities	33,047
Dividend payable	66,576
Deferred income taxes	6,633
Notes and other debt	3,508,685
Total liabilities	3,614,941
Common Stock	150
Accumulated other comprehensive income	28,551
Distributions in excess of accumulated earnings	(998,002)
Total shareholders' deficit	(969,301)	2,508,420
Total Liabilities and Shareholders' Deficit	2,645,640
Eliminations
Assets:
Affiliate receivable	(38,607)
Derivative asset	(28,551)
Investment in consolidated subsidiaries	(5,122,914)
Total Assets	(5,190,072)
Liabilities and Shareholders' Deficit:
Accounts payable, accrued expenses and other liabilities	(48,797)
Affiliate payable	(38,607)
Notes and other debt	(3,508,685)
Total liabilities	(3,596,089)
Additional paid-in capital	(63)
Accumulated other comprehensive income	(28,551)
Distributions in excess of accumulated earnings	(1,565,369)
Total shareholders' deficit	(1,593,983)
Total Liabilities and Shareholders' Deficit	(5,190,072)
CS&L, Inc.
Assets:
Cash and cash equivalents	23
Affiliate receivable	37,898
Derivative asset	28,551
Investment in consolidated subsidiaries	2,561,457
Other assets	19
Total Assets	2,627,948
Liabilities and Shareholders' Deficit:
Accounts payable, accrued expenses and other liabilities	21,595
Affiliate payable	393
Dividend payable	66,576
Notes and other debt	3,508,685
Total liabilities	3,597,249
Common Stock	150
Accumulated other comprehensive income	28,551
Distributions in excess of accumulated earnings	(998,002)
Total shareholders' deficit	(969,301)
Total Liabilities and Shareholders' Deficit	2,627,948
CSL Capital, LLC
Assets:
Derivative asset	28,551
Investment in consolidated subsidiaries	2,561,457
Total Assets	2,590,008
Liabilities and Shareholders' Deficit:
Accounts payable, accrued expenses and other liabilities	48,797
Notes and other debt	3,508,685
Total liabilities	3,557,482
Accumulated other comprehensive income	28,551
Distributions in excess of accumulated earnings	(996,025)
Total shareholders' deficit	(967,474)
Total Liabilities and Shareholders' Deficit	2,590,008
Guarantors
Assets:
Real estate investments, net of accumulated depreciation	1,907,626
Cash and cash equivalents	154,592	$ 18
Affiliate receivable	709
Straight-line rent receivable	3,200
Other assets	2,689
Total Assets	2,068,816
Liabilities and Shareholders' Deficit:
Accounts payable, accrued expenses and other liabilities	8,962
Affiliate payable	37,898
Deferred income taxes	1,939
Total liabilities	48,799
Additional paid-in capital	63
Distributions in excess of accumulated earnings	2,019,954
Total shareholders' deficit	2,020,017
Total Liabilities and Shareholders' Deficit	2,068,816
Non-Guarantors
Assets:
Real estate investments, net of accumulated depreciation	532,700
Accounts receivable, net	3,507
Customer list intangible assets, net	12,458
Other assets	275
Total Assets	548,940
Liabilities and Shareholders' Deficit:
Accounts payable, accrued expenses and other liabilities	2,490
Affiliate payable	316
Deferred income taxes	4,694
Total liabilities	7,500
Distributions in excess of accumulated earnings	541,440
Total shareholders' deficit	541,440
Total Liabilities and Shareholders' Deficit	$ 548,940

Supplemental Guarantor Information - Condensed Consolidated Statement of Comprehensive Income (Details) $ in Thousands	2 Months Ended
	Jun. 30, 2015 USD ($)
Revenues:
Total revenues	$ 128,748
Costs and Expenses:
Interest expense	48,797
Depreciation and amortization	64,444
General and administrative expense	3,234
Total costs and expenses	120,216
Income before income taxes	8,532
Income tax expense	231
Net income	8,301
Comprehensive Income	36,852
Eliminations
Costs and Expenses:
Interest expense	(48,797)
Total costs and expenses	(48,797)
Earnings (losses) from consolidated subsidiaries	(66,075)
Income before income taxes	(17,278)
Net income	(17,278)
Comprehensive Income	(45,829)
CS&L, Inc.
Costs and Expenses:
Interest expense	48,797
General and administrative expense	338
Total costs and expenses	49,135
Earnings (losses) from consolidated subsidiaries	8,639
Income before income taxes	(40,496)
Net income	(40,496)
Comprehensive Income	(11,945)
C S L Capital Llc
Costs and Expenses:
Interest expense	48,797
Total costs and expenses	48,797
Earnings (losses) from consolidated subsidiaries	57,436
Income before income taxes	8,639
Net income	8,639
Comprehensive Income	37,190
Guarantors
Revenues:
Total revenues	124,172
Costs and Expenses:
Depreciation and amortization	46,744
General and administrative expense	2,896
Total costs and expenses	49,640
Income before income taxes	74,532
Income tax expense	94
Net income	74,438
Comprehensive Income	74,438
Non-Guarantors
Revenues:
Total revenues	4,576
Costs and Expenses:
Depreciation and amortization	17,700
Total costs and expenses	21,441
Income before income taxes	(16,865)
Income tax expense	137
Net income	(17,002)
Comprehensive Income	(17,002)
Rental Revenues
Revenues:
Total revenues	124,172
Costs and Expenses:
Depreciation and amortization	63,801
Rental Revenues \| Guarantors
Revenues:
Total revenues	124,172
Consumer CLEC
Revenues:
Total revenues	4,576
Costs and Expenses:
Depreciation and amortization	643
CLEC operating expense	3,741
Consumer CLEC \| Non-Guarantors
Revenues:
Total revenues	4,576
Costs and Expenses:
CLEC operating expense	$ 3,741

Supplemental Guarantor Information - Condensed Consolidated Statement of Cash Flows (Details) $ in Thousands	2 Months Ended
	Jun. 30, 2015 USD ($)
Cash flow from operating activities
Net cash provided by operating activities	$ 93,431
Cash flow from investing activities
Consideration paid to Windstream Services, LLC	(1,035,029)
Capital expenditures	(397)
Net cash used in investing activities	(1,035,426)
Cash flow from financing activities
Proceeds from issuance of Term Loans	1,127,000
Deferred financing costs	(29,933)
Common stock issuance costs	(456)
Cash in-lieu of fractional shares	(19)
Net cash provided by financing activities	1,096,592
Net increase in cash and cash equivalents	154,597
Cash and cash equivalents at end of period	154,615
CS&L, Inc.
Cash flow from operating activities
Net cash provided by operating activities	(61,540)
Cash flow from investing activities
Consideration paid to Windstream Services, LLC	(1,035,029)
Net cash used in investing activities	(1,035,029)
Cash flow from financing activities
Proceeds from issuance of Term Loans	1,127,000
Deferred financing costs	(29,933)
Common stock issuance costs	(456)
Cash in-lieu of fractional shares	(19)
Net cash provided by financing activities	1,096,592
Net increase in cash and cash equivalents	23
Cash and cash equivalents at end of period	23
Guarantors
Cash flow from operating activities
Net cash provided by operating activities	154,971
Cash flow from investing activities
Capital expenditures	(397)
Net cash used in investing activities	(397)
Cash flow from financing activities
Net increase in cash and cash equivalents	154,574
Cash and cash equivalents at end of period	$ 154,592

Subsequent Events - Additional Information (Details) - Subsequent Event - USD ($) $ / shares in Units, $ in Millions	Aug. 11, 2015	Jul. 15, 2015	Aug. 05, 2015
Subsequent Event [Line Items]
Pro-rata dividend payable to shareholders		$ 0.4418
Cash dividend declared per share	$ 0.60
Dividend declared date	Aug. 11, 2015
Cash dividend payable date	Oct. 15, 2015
Dividend record date	Sep. 30, 2015
C S L Capital Llc \| 8.25% Senior Notes due 2023
Subsequent Event [Line Items]
Issuance of senior notes, principal amount			$ 1,110
Issuance senior notes, stated percentage			8.25%

Deferred Income Taxes - Schedule of Components of Net Deferred Tax Liability (Details) - Consumer CLEC Business $ in Thousands	Dec. 31, 2014 USD ($)
Deferred Tax Liability [Line Items]
Customer list intangible assets	$ (5,523)
Bad debt reserve	40
Deferred income taxes, net	(5,483)
Deferred tax assets	40
Deferred tax liabilities	$ (5,523)

Separation from Windstream Holdings Inc and Description of Transferred Assets (Details)	Apr. 25, 2015
Share Distribution \| Distribution Systems \| Windstream
Related Party Transaction [Line Items]
Percentage of stock distributed	80.40%

Property, Plant and Equipment - Summary of Net Property, Plant and Equipment (Details) - Distribution Systems $ in Millions	12 Months Ended
	Dec. 31, 2014 USD ($)
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	$ 5,956.7
Less accumulated depreciation	(3,384.9)
Net property, plant and equipment	2,571.8
Land
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	33.0
Building and Improvements
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	305.5
Poles
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	223.0
Fiber
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	1,841.2
Copper
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	3,430.8
Conduit
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	89.2
Construction in progress
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	$ 34.0
Minimum \| Building and Improvements
Property Plant And Equipment [Line Items]
Depreciable Lives	3 years
Minimum \| Poles
Property Plant And Equipment [Line Items]
Depreciable Lives	13 years
Minimum \| Fiber
Property Plant And Equipment [Line Items]
Depreciable Lives	7 years
Minimum \| Copper
Property Plant And Equipment [Line Items]
Depreciable Lives	7 years
Minimum \| Conduit
Property Plant And Equipment [Line Items]
Depreciable Lives	13 years
Maximum \| Building and Improvements
Property Plant And Equipment [Line Items]
Depreciable Lives	40 years
Maximum \| Poles
Property Plant And Equipment [Line Items]
Depreciable Lives	40 years
Maximum \| Fiber
Property Plant And Equipment [Line Items]
Depreciable Lives	40 years
Maximum \| Copper
Property Plant And Equipment [Line Items]
Depreciable Lives	40 years
Maximum \| Conduit
Property Plant And Equipment [Line Items]
Depreciable Lives	47 years

Label	Element	Value
Accumulated Distributions In Excess Of Net Income [Member]
Stockholders Equity	us-gaap_StockholdersEquity	$ 2,508,270,000
Accumulated Net Gain Loss From Designated Or Qualifying Cash Flow Hedges [Member]
Stockholders Equity	us-gaap_StockholdersEquity	0
Accumulated Other Comprehensive Income [Member]
Stockholders Equity	us-gaap_StockholdersEquity	0
Common Stock [Member]
Stockholders Equity	us-gaap_StockholdersEquity	$ 150,000
Shares Outstanding	us-gaap_SharesOutstanding	149,827,214