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Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Mar. 31, 2016	May 06, 2016
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2016
Document Fiscal Year Focus	2016
Document Fiscal Period Focus	Q1
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		151,623,214

Condensed Consolidated Balance Sheets (unaudited) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Assets:
Real estate investments	$ 6,127,422	$ 6,093,541
Accumulated depreciation - real estate investments	(3,806,298)	(3,720,890)
Net real estate investments	2,321,124	2,372,651
Cash and cash equivalents	165,340	142,498
Accounts receivable, net	832	2,083
Intangible assets, net	11,190	10,530
Straight-line rent receivable	16,117	11,795
Other assets	3,312	3,079
Total Assets	2,517,915	2,542,636
Liabilities and Shareholders' Deficit:
Accounts payable, accrued expenses and other liabilities	8,596	10,409
Accrued interest payable	53,340	24,440
Deferred revenue	99,260	67,817
Derivative liability	45,869	5,427
Dividends payable	90,621	90,507
Deferred income taxes	5,498	5,714
Notes and other debt, net	3,503,642	3,505,228
Total liabilities	3,806,826	3,709,542
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, issued and outstanding: 150,034 shares at March 31, 2016 and 149,862 at December 31, 2015	15	15
Additional paid-in capital	3,407	1,392
Accumulated other comprehensive loss	(45,789)	(5,427)
Distributions in excess of accumulated earnings	(1,246,544)	(1,162,886)
Total shareholders' deficit	(1,288,911)	(1,166,906)
Total Liabilities and Shareholders' Deficit	$ 2,517,915	$ 2,542,636

Condensed Consolidated Balance Sheets (Parenthetical) (unaudited) - $ / shares	Mar. 31, 2016	Dec. 31, 2015
Statement Of Financial Position [Abstract]
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	50,000,000	50,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	500,000,000	500,000,000
Common stock, shares issued	150,034,000	149,862,000
Common stock, shares outstanding	150,034,000	149,862,000

Condensed Consolidated Statement of Income (unaudited) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2016 USD ($) $ / shares shares
Revenues:
Total revenues	$ 174,675
Costs and Expenses:
Interest expense	66,049
Depreciation and amortization	86,340
General and administrative expense	5,189
Operating expense	4,707
Transaction related costs	3,910
Total costs and expenses	166,195
Income before income taxes	8,480
Income tax expense	444
Net income	8,036
Participating securities' share in earnings	(355)
Net income applicable to common shareholders	$ 7,681
Earnings per common share:
Basic \| $ / shares	$ 0.05
Diluted \| $ / shares	$ 0.05
Weighted-average number of common shares outstanding
Basic \| shares	149,918
Diluted \| shares	149,984
Dividends declared per common share \| $ / shares	$ 0.60
Rental Revenues
Revenues:
Total revenues	$ 168,641
Costs and Expenses:
Depreciation and amortization	85,525
Consumer CLEC
Revenues:
Total revenues	6,034
Costs and Expenses:
Depreciation and amortization	$ 815

Condensed Consolidated Statement of Comprehensive Income (Loss) (unaudited) $ in Thousands	3 Months Ended
	Mar. 31, 2016 USD ($)
Statement Of Income And Comprehensive Income [Abstract]
Net income	$ 8,036
Other comprehensive (loss) income:
Unrealized loss on derivative contracts	(40,442)
Changes in foreign currency translation	80
Other comprehensive loss	(40,362)
Comprehensive loss	$ (32,326)

- 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) - 3 months ended Mar. 31, 2016 - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Loss	Distributions in Excess of Accumulated Earnings
Beginning balance, value at Dec. 31, 2015	$ (1,166,906)	$ 15	$ 1,392	$ (5,427)	$ (1,162,886)
Beginning balance, shares at Dec. 31, 2015		149,862,459
Net income	8,036				8,036
Equity consideration related to Summit Wireless acquisition	1,085		1,085
Other comprehensive loss	(40,362)			(40,362)
Common stock dividends	(90,428)				(90,428)
Net share settlement (Note 9)	(1,266)				(1,266)
Stock-based compensation	930		930
Stock-based compensation, shares		171,785
Ending balance, value at Mar. 31, 2016	$ (1,288,911)	$ 15	$ 3,407	$ (45,789)	$ (1,246,544)
Ending balance, shares at Mar. 31, 2016		150,034,244

- 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 Cash Flows (unaudited) $ in Thousands	3 Months Ended
	Mar. 31, 2016 USD ($)
Cash flow from operating activities
Net income	$ 8,036
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	86,340
Amortization of deferred financing costs	1,818
Amortization of debt discount	1,946
Deferred income taxes	(216)
Straight-line rental revenues	(4,322)
Stock-based compensation	930
Other	(9)
Changes in:
Accounts receivable	1,307
Other assets	(252)
Accounts payable, accrued expenses and other liabilities	26,123
Net cash provided by operating activities	121,701
Cash flow from investing activities
Acquisition of real estate	(1,347)
Acquisition of business, to include cash acquired	111
Capital expenditures	(77)
Net cash used in investing activities	(1,313)
Cash flow from financing activities
Principal payment on debt	(6,044)
Net share settlement (Note 9)	(1,266)
Dividends paid	(90,314)
Net cash used in financing activities	(97,624)
Effect of exchange rates on cash and cash equivalents	78
Net increase in cash and cash equivalents	22,842
Cash and cash equivalents at beginning of period	142,498
Cash and cash equivalents at end of period	165,340
Supplemental cash flow information:
Cash paid for interest	32,850
Cash paid for income taxes	143
Non-cash investing and financing activities:
Accrual of dividends declared	90,621
Tenant capital improvements	32,359
Acquisition of business through equity consideration	$ 974

Statement of Revenues and Direct Expenses (unaudited) $ in Thousands	3 Months Ended
	Mar. 31, 2015 USD ($)
Consumer CLEC Business
Revenues	$ 7,891
Direct expenses:
Cost of revenues	4,351
Selling, general, and administrative	15
Amortization	1,013
Total costs and expenses	5,379
Revenues in Excess of Direct Expenses	$ 2,512

Organization and Description of Business	3 Months Ended
Organization and Description of Business	Mar. 31, 2016
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Organization and Description of Business	Note 1. Organization and Description of Business CS&L was incorporated in the state of Maryland on September 4, 2014 as a subsidiary of Windstream. In connection with the the Spin-Off, Windstream and CS&L entered into a long-term, triple-net lease (the “Master Lease”) pursuant to which CS&L leases the Distribution Systems 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. CS&L is an independent, internally managed real estate investment trust (“REIT”) engaged in the acquisition and construction of mission critical infrastructure in the communications industry. The Company is principally focused on acquiring and constructing fiber optic broadband networks, wireless communications towers, copper and coaxial broadband networks and data centers. With the acquisition of PEG Bandwidth LLC, the Company has also become a leading provider of infrastructure solutions to the telecommunications industry. Presently, CS&L’s primary source of revenue is rental revenues from leasing the Distribution Systems to Windstream Holdings pursuant to the Master Lease. CS&L intends to elect on our U.S. federal income tax return for the taxable year ending December 31, 2015 to be treated as a REIT. The Consumer CLEC Business, which was reported as an integrated operation within Windstream prior to the Spin-Off, 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 Talk America Services, LLC, an indirect, wholly-owned subsidiary of CS&L (“Talk America”), through which we operate the Consumer CLEC Business as a “taxable REIT subsidiary” effective as of the first day of CS&L’s initial REIT tax year.

Basis of Presentation and Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2016
Accounting Policies [Abstract]
Basis of Presentation and Summary of Significant Accounting Policies	Note 2. Basis of Presentation and Summary of Significant Accounting Policies The accompanying Condensed 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 from any interim period are not necessarily indicative of the results that may be expected for the full fiscal year. 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 Annual Report on Form 10-K for the year ended December 31, 2015 (“Annual Report”), filed with the SEC on March 7, 2016. Accordingly, significant accounting policies and other disclosures normally provided have been omitted since such items are disclosed in our Annual Report. All material intercompany balances and transactions have been eliminated. 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. Business Combinations—In accordance with ASC 805, Business Combinations, we apply the acquisition method of accounting for acquisitions meeting the definition of a business combination, where assets acquired and liabilities assumed are recorded at fair value at the date of each acquisition, and the results of operations are included with those of the Company from the dates of the respective acquisitions. Any excess of the purchase price paid by the Company over the amounts recognized for assets acquired and liabilities assumed is recorded as goodwill. The Company continues to evaluate acquisitions for a period not to exceed one year after the applicable acquisition date of each transaction to determine whether any additional adjustments are needed to the allocation of the purchase price paid for the assets acquired and liabilities assumed. Real Property Interests—During the quarter ended March 31, 2016, we initiated a program whereby we acquire real property interests from third parties owning land where communications infrastructure assets are located and who desired to monetize the underlying real property. These real property interests entitle us to receive rental payments from leases on our sites. The financial results of the acquired real property interests are included in the Leasing segment from the date of acquisition and were not material, individually or in the aggregate, to our results of operations. During the three months ended March 31, 2016, we invested approximately $1.3 million for the acquisition of real property interests which are recorded into real estate investments on our Condensed Consolidated Balance Sheet. Foreign Currency Translation—The financial statements of our international subsidiaries whose functional currency is the local currency are translated into U.S. dollars using the exchange rate at the balance sheet date for assets and liabilities and the weighted average exchange rate for the applicable period for revenues, expenses, gains and losses. Translation adjustments are recorded as a separate component of comprehensive income in stockholders’ equity. Recently Issued Accounting Standards—In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 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. The Company is in the process of evaluating this guidance to determine the impact it will have on our financial statements. In February 2016, the FASB issued ASU No. 2016-02, Leases (“ASC 842”), which sets out the principles for the recognition, measurement, presentation and disclosure of leases for both parties to a contract (i.e. lessees and lessors). The new standard requires lessees to apply a dual approach, classifying leases as either finance or operating leases based on the principle of whether or not the lease is effectively a financed purchase by the lessee. This classification will determine whether lease expense is recognized based on an effective interest method or on a straight line basis over the term of the lease, respectively. A lessee is also required to record a right-of-use asset and a lease liability for all leases with a term of greater than 12 months regardless of their classification. Leases with a term of 12 months or less will be accounted for similar to existing guidance for operating leases today. ASC 842 is effective for fiscal years and interim periods beginning after December 15, 2018, and early adoption is permitted. The Company is in the process of evaluating this guidance to determine the impact it will have on our financial statements. In March 2016, the FASB issued ASU 2016-09, Improvements to Employee Share-Based Payment Accounting (ASU 2016-09”) ASU 2016-09 simplifies several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. ASU 2016-09 is effective for fiscal years beginning after December 15, 2016, and interim periods within those fiscal years and early adoption is permitted. The Company is currently in the process of evaluating the impact of adoption of the ASU 2016-09 on its consolidated financial statements.

Business Combinations	3 Months Ended
Business Combinations	Mar. 31, 2016
Business Combinations [Abstract]
Business Combinations	Note 3. Business Combinations On January 22, 2016, we acquired 100% of the outstanding equity of Summit Wireless Infrastructure LLC (“Summit”). Summit builds, owns and operates telecommunication infrastructure serving wireless carriers in Mexico. Consideration given to acquire Summit included performance-based shares of common equity valued at $1.1 million, which will vest in full on the third anniversary of closing subject to Summit meeting certain performance targets, and the assumption of Summit’s existing debt. The financial results of Summit are included in the Leasing segment from the date of acquisition and were not material, individually or in the aggregate, to our results of operations and therefore, pro forma financial information has not been presented.

- Definition

The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable).

+ References

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+ Details

Fair Value of Financial Instruments

3 Months Ended

Mar. 31, 2016

Fair Value Disclosures [Abstract]

Fair Value of Financial Instruments

Note 4. 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, a derivative liability, our outstanding notes and other debt, and accounts, interest and dividends payable.

The following table summarizes the fair value of our financial instruments at March 31, 2016 and December 31, 2015:

(Thousands)	Total		Quoted Prices in Active Markets (Level 1)		Prices with Other Observable Inputs (Level 2)		Prices with Unobservable Inputs (Level 3)
At March 31, 2016
Assets
Cash and cash equivalents	$	165,340	$	165,340	$	-	$	-
Accounts and other receivables		832		832		-		-
Total	$	166,172	$	166,172	$	-	$	-

Liabilities
Senior secured notes - 6.00%, due April 15, 2023	$	388,000	$	-	$	388,000	$	-
Senior unsecured notes - 8.25%, due October 15, 2023		1,023,975		-		1,023,975		-
Senior secured term loan B - variable rate, due October 24, 2022		2,044,302		-		2,044,302		-
Derivative liability		45,869		-		45,869		-
Accounts, interest and dividends payable		152,557		152,557		-		-
Total	$	3,654,703	$	152,557	$	3,502,146	$	-

(Thousands)	Total		Quoted Prices in Active Markets (Level 1)		Prices with Other Observable Inputs (Level 2)		Prices with Unobservable Inputs (Level 3)
At December 31, 2015
Assets
Cash and cash equivalents	$	142,498	$	142,498	$	-	$	-
Accounts and other receivables		2,083		2,083		-		-
Total	$	144,581	$	144,581	$	-	$	-

Liabilities
Senior secured notes - 6.00%, due April 15, 2023	$	376,000	$	-	$	376,000	$	-
Senior unsecured notes - 8.25%, due October 15, 2023		937,950		-		937,950		-
Senior secured term loan B - variable rate, due October 24, 2022		1,986,198		-		1,986,198		-
Derivative liability		5,427		-		5,427		-
Accounts, interest and dividends payable		125,356		125,356		-		-
Total	$	3,430,931	$	125,356	$	3,305,575	$	-

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

The total principal balance of our Notes and other debt was $3.63 billion at March 31, 2016, with a fair value of $3.46 billion. The estimated fair value of our Notes and other debt was based on available external pricing data and current market rates for similar debt instruments, among other factors, which are classified as Level 2 inputs within the fair value hierarchy. Derivative liabilities are carried at fair value. See Note 6. The fair value of an interest rate swap is determined based on the present value of expected future cash flows using observable, quoted LIBOR swap rates for the full term of the swap and also incorporate credit valuation adjustments to appropriately reflect both CS&L’s own non-performance risk and non-performance risk of the respective counterparties. The Company has determined that the majority of the inputs used to value its derivative liabilities 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 March 31, 2016, 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 liabilities valuation in Level 2 of the fair value hierarchy.

- Definition

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

+ References + Details

Real Estate Investments

3 Months Ended

Mar. 31, 2016

Real Estate [Abstract]

Real Estate Investments

Note 5. Real Estate Investments

The carrying value of real estate investments is as follows:

(Thousands)	Depreciable Lives	March 31, 2016			December 31, 2015
Land		$	33,769		$	33,386
Building and improvements	3 - 40 years		314,040			313,736
Real property interests	50 years		1,347			-
Poles	13 - 40 years		228,585			228,031
Fiber	7 - 40 years		1,973,547			1,948,192
Copper	7 - 40 years		3,483,885			3,475,987
Conduit	13 - 47 years		89,663			89,460
Construction in progress			2,586			4,749
			6,127,422			6,093,541
Less accumulated depreciation			(3,806,298	)		(3,720,890	)
Net real estate investments		$	2,321,124		$	2,372,651

Depreciation expense related to real estate investments for the three months ended March 31, 2016 was $85.4 million.

Construction in progress represents in process capital projects that were transferred to us at the time of the Spin-Off. As Windstream completes these projects, amounts are reclassified to depreciable assets.

Derivative Instruments and Hedging Activities

3 Months Ended

Mar. 31, 2016

Derivative Instruments And Hedging Activities Disclosure [Abstract]

Derivative Instruments and Hedging Activities

Note 6. 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 $2.12 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		March 31, 2016				December 31, 2015
Interest rate swaps		Derivative liability		$	45,869			$	5,427

As of March 31, 2016 and December 31, 2015, all of the interest rate swaps were valued in net unrealized loss positions and recognized as liability balances within the derivative liability balance. For the three months ended March 31, 2016, the amount recorded in other comprehensive income related to the unrealized loss on derivative instruments was $46.4 million. The amount reclassified out of other comprehensive income into interest expense on our Condensed Consolidated Statement of Income for the three months ended March 31, 2016 was $5.9 million. For the three months ended March 31, 2016, there was no ineffective portion of the change in fair value derivatives.

Amounts reported in accumulated other comprehensive income (loss) 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 April 1, 2016, we estimate that $23.6 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

Intangible Assets

3 Months Ended

Mar. 31, 2016

Goodwill And Intangible Assets Disclosure [Abstract]

Intangible Assets

Note 7. Intangible Assets

The carrying value of the intangible assets is as follows:

(Thousands)	March 31, 2016			December 31, 2015
Customer lists	$	36,001		$	34,501
Less: Accumulated amortization		(24,811	)		(23,971	)
Intangible assets, net	$	11,190		$	10,530

Amortization expense was $0.8 million for the three months ended March 31, 2016. Amortization expense is estimated to be $3.4 million for the full year of 2016, $2.8 million in 2017, $2.1 million in 2018, $1.5 million in 2019, $1.0 million in 2020 and $0.6 million in 2021.

Notes and Other Debt

3 Months Ended

Mar. 31, 2016

Long Term Debt [Abstract]

Notes and Other Debt

Note 8. Notes and Other Debt

Notes and other debt is as follows:

(Thousands)	March 31, 2016			December 31, 2015
Principal amount	$	3,633,950		$	3,639,300
Less unamortized discount and debt issuance costs		(130,308	)		(134,072	)
Notes and other debt less unamortized discount and debt issuance costs	$	3,503,642		$	3,505,228

Notes and other debt at March 31, 2016 and December 31, 2015 consisted of the following:

	March 31, 2016					December 31, 2015
(Thousands)	Principal		Unamortized Discount and Debt Issuance Costs			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	$	(6,582	)	$	400,000	$	(6,767	)
Senior unsecured notes - 8.25%, due October 15, 2023 (discount is based on imputed interest rate of 9.06%)		1,110,000		(49,074	)		1,110,000		(50,200	)
Senior secured term loan B - variable rate, due October 24, 2022 (discount is based on imputed interest rate of 5.66%)		2,123,950		(74,652	)		2,129,300		(77,105	)
Senior secured revolving credit facility, variable rate, due April 24, 2020		-		-			-		-
Total	$	3,633,950	$	(130,308	)	$	3,639,300	$	(134,072	)

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 “Senior Secured Notes”) and $1.11 billion aggregate principal amount of 8.25% Senior Unsecured Notes due October 15, 2023 (the “Senior Unsecured Notes” and together with the Secured Notes, the “Notes”). The Senior Secured Notes were issued at an issue price of 100% of par value, while the Senior Unsecured 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 Unsecured Notes, the Company subsequently filed with the SEC a registration statement relating to an exchange offer pursuant to which 8.25% Senior Notes due 2023 (the “Exchange Notes”) that were registered with the SEC, were offered in exchange for Senior Unsecured Notes tendered by the holders of those notes. The terms of the Exchange Notes are substantially identical to the terms of the Senior Unsecured 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 provision applicable to the Senior Unsecured Notes do not apply to the Exchange Notes. The exchange offer was launched on August 5, 2015, and completed on September 2, 2015, with all outstanding Senior Unsecured Notes being tendered and exchanged for Exchange 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 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 March 31, 2016, 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 Senior 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 in the Credit Agreement, does not exceed 4.00 to 1.00. As of March 31, 2016, 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.

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 three months ended March 31, 2016, we recognized $1.8 million of non-cash interest expense related to the amortization of deferred financing costs.

Related Party Transactions	3 Months Ended
Related Party Transactions	Mar. 31, 2016
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 three months ended March 31, 2016, we recognized leasing revenues of $168.6 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 provide, 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 three months ended March 31, 2016, we incurred $19,000 of TSA expense. 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. During the three months ended March 31, 2016, we incurred expenses of $3.4 million and $0.4 million related to the Wholesale Agreement and Master Services Agreement, respectively. Accounts Receivable – As of March 31, 2016 and December 31, 2015, there were $0.3 million and $1.7 million accounts receivable, respectively, 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. Dividend Payable – At March 31, 2016, there was a $17.6 million dividend payable to Windstream related to the dividend declared on March 1, 2016, based on Windstream ownership of CS&L shares as of the March 31, 2016 record date. This amount was paid to Windstream on April 15, 2016 along with the dividends payable to all common shareholders. At December 31, 2015, there was a $17.6 million dividend payable to Windstream related to the dividend declared on November 6, 2015, based on Windstream ownership of CS&L shares as of the December 31, 2015 record date. This amount was paid to Windstream on January 15, 2016 along with the dividends payable to all common shareholders. Employee Matters Agreement – We are party to an Employee Matters Agreement (“Employee Matters Agreement”) with Windstream that governs the respective compensation and employee benefit obligations of the Company and Windstream in connection with and following the Spin-Off. Under the Employee Matters Agreement, if requested by a Windstream employee, the Company is required to withhold shares to satisfy the employee’s tax obligations arising from the recognition of income and the vesting of shares related to awards of CS&L restricted stock held by the employee that were granted in connection with the Spin-Off. In that case, the Company must pay to Windstream an amount of cash equal to the amount required to be withheld to satisfy minimum statutory tax withholding obligations or, at the request of Windstream, remit such cash directly to the applicable taxing authorities. During the three months ended March 31, 2016, we withheld 91,412 common shares to satisfy these minimum statutory tax-withholding obligations and delivered $1.3 million to Windstream for remittance to the applicable taxing authorities. Tower Purchase – On March 29, 2016, we entered into an agreement with Windstream to acquire 32 wireless towers owned by Windstream and operating rights for 49 wireless towers previously conveyed to the Company in the Spin-Off for a purchase price of approximately $3 million. Wireless carriers currently leasing access to these towers will become customers of CS&L. The acquisition of the ownership and operating rights to the 81 towers is subject to regulatory approvals and other customary terms and conditions. Closing is expected during the second quarter of 2016. Lease Amendment – During the quarter ended March 31, 2016, we amended the Master Lease with Windstream (the “Master Lease Amendment”) to allow for the transfer of ownership rights or exchanges of indefeasible rights of use (an “IRU”) and other long term rights in certain fiber and associated assets constituting leased property under the Master Lease. We will enter into such transactions pursuant to certain fiber exchange agreements under which we will grant to a third party ownership rights in certain fiber assets or an IRU in certain fiber assets that constitute leased property under the Master Lease in exchange for CS&L receiving ownership rights in certain fiber assets or an IRU in certain fiber assets of the third party, which we will then lease to Windstream as leased property under the Master Lease. Under the terms of the Master Lease Amendment, Windstream is responsible for any taxes imposed on CS&L related to the sale, exchange or other disposition of the fiber assets delivered to a third party or granting of rights to the leased property that arise from fiber exchange agreements. As of March 31, 2016, no such transactions have been consummated. The Master Lease Amendment also permits us to install, own and operate certain wireless communication towers, antennas and related equipment on designated portions of the leased property.

- 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

3 Months Ended

Mar. 31, 2016

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 have outstanding performance-based restricted stock units that contain forfeitable rights to receive dividends. Therefore the awards are 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:

	Three Months Ended
(Thousands, except per share data)	March 31, 2016
Basic earnings per share:
Numerator:
Net income	$	8,036
Less: Income allocated to participating securities		(355	)
Net income applicable to common shares	$	7,681
Denominator:
Basic weighted-average common shares outstanding		149,918
Basic earnings per common share	$	0.05

	Three Months Ended
(Thousands, except per share data)	March 31, 2016
Diluted earnings per share:
Numerator:
Net income	$	8,036
Less: Income allocated to participating securities		(355	)
Net income applicable to common shares	$	7,681
Denominator:
Basic weighted-average common shares outstanding		149,918
Effect of dilutive non-participating securities		66
Weighted-average shares for dilutive earnings per common share		149,984
Dilutive earnings per common share	$	0.05

Segment Information

3 Months Ended

Mar. 31, 2016

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, the impact, which may be recurring in nature, of 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.

Selected financial data related to our segments is presented below for the three months ended March 31, 2016:

	Three Months Ended March 31, 2016
(Thousands)	Leasing Operations		Consumer CLEC		Subtotal of Reportable Segments
Revenues	$	168,641	$	6,034	$	174,675
Adjusted EBITDA		164,377		1,332		165,709

Depreciation and amortization		85,525		815		86,340
Interest expense						66,049
Transaction related costs						3,910
Stock-based compensation						930
Income tax expense						444
Net income					$	8,036

Capital expenditures		77		-		77

Total assets by business segment as of March 31, 2016 and December 31, 2015 are as follows:

(Thousands)	March 31, 2016		December 31, 2015
Leasing operations	$	2,502,957	$	2,527,915
Consumer CLEC		14,958		14,721
Subtotal of reportable segments	$	2,517,915	$	2,542,636

- 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	3 Months Ended
Commitment and Contingencies	Mar. 31, 2016
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. Pursuant to the Separation and Distribution Agreement, Windstream has agreed to indemnify us (including our subsidiaries, directors, officers, employees and agents and certain other related parties) for any liability arising from or relating to legal proceedings involving Windstream's telecommunications business prior to the Spin-Off, and, pursuant to the Master Lease, Windstream has agreed to indemnify us for, among other things, any use, misuse, maintenance or repair by Windstream with respect to the Distribution Systems. Windstream is currently a party to various legal actions and administrative proceedings, including various claims arising in the ordinary course of its telecommunications business, which are subject to the indemnities provided by Windstream to us. Under the terms of the Tax Matters Agreement entered into with Windstream, we are generally responsible for any taxes imposed on Windstream that arise from the failure of the Spin-Off and the debt exchanges to qualify as tax-free for U.S. federal income tax purposes, within the meaning of Section 355 and Section 368(a)(1)(D) of the Internal Revenue Code, as applicable, to the extent such failure to qualify is attributable to certain actions, events or transactions relating to our stock, indebtedness, assets or business, or a breach of the relevant representations or any covenants made by us in the Tax Matters Agreement, the materials submitted to the IRS in connection with the request for the private letter ruling or the representations provided in connection with the tax opinion. We believe that the probability of us incurring obligations under the Tax Matters Agreement are remote; and therefore, have recorded no such liabilities in our consolidated balance sheet.

Accumulated Other Comprehensive Income

3 Months Ended

Mar. 31, 2016

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 for the three months ended March 31, 2016:

(Thousands)	Currency Translation Adjustment		Changes in Fair Value of Effective Cash Flow Hedge			Total
Beginning balance at December 31, 2015	$	-	$	(5,427	)	$	(5,427	)
Other comprehensive loss before reclassifications		80		(46,379	)		(46,299	)
Amounts reclassified from accumulated other comprehensive income		-		5,937			5,937
Ending balance at March 31, 2016	$	80	$	(45,869	)	$	(45,789	)

- 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.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=36458714&loc=d3e689-108580

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=36458714&loc=SL7669619-108580

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=36458714&loc=d3e640-108580

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 17
-URI http://asc.fasb.org/extlink&oid=36458714&loc=d3e716-108580

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 16
-URI http://asc.fasb.org/extlink&oid=36458714&loc=d3e709-108580

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187085-122770

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=36458714&loc=d3e637-108580

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 14
-URI http://asc.fasb.org/extlink&oid=36458714&loc=d3e681-108580

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Reclassification Adjustments
-URI http://asc.fasb.org/extlink&oid=6522872

+ Details

Supplemental Guarantor Information

3 Months Ended

Mar. 31, 2016

Condensed Financial Information Disclosure [Abstract]

Supplemental Guarantor Information

Note 14. Supplemental Guarantor Information

In connection with the issuance of the Senior Secured Notes, Senior Unsecured Notes and Term Loan 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, as defined in the Credit Agreement, or otherwise no longer being required to remain a Guarantor given its size or regulatory restrictions.

The following information summarizes our Condensed Consolidating Balance Sheets as of March 31, 2016 and December 31, 2015, Condensed Consolidating Statement of Comprehensive Income (Loss) for the three months ended March 31, 2016, and the Condensed Consolidating Statement of Cash Flows for the three months ended March 31, 2016:

	Condensed Consolidating Balance Sheet As of March 31, 2016
(Thousands)	CS&L			CSL Capital			Guarantors		Non-Guarantors		Eliminations			Consolidated
Assets:
Real estate investments, net of accumulated depreciation	$	—		$	—		$	1,799,279	$	521,845	$	—		$	2,321,124
Cash and cash equivalents		58			—			160,158		5,124		—			165,340
Accounts receivable, net		—			—			400		432		—			832
Affiliate receivable		—			—			—		1		(1	)		—
Intangible assets, net		—			—			—		11,190		—			11,190
Straight-line rent receivable		—			—			16,117		—		—			16,117
Investment in consolidated subsidiaries		2,404,503			2,404,503			11,235		1,850		(4,822,091	)		-
Other assets		—			—			2,936		376		—			3,312
Total Assets	$	2,404,561		$	2,404,503		$	1,990,125	$	540,818	$	(4,822,092	)	$	2,517,915
Liabilities and Shareholders' Deficit:
Accounts payable, accrued expenses and other liabilities	$	—		$	—		$	6,880	$	1,716	$	—		$	8,596
Accrued interest payable		53,340			53,340			—		—		(53,340	)		53,340
Deferred revenue		—			—			67,952		31,308		—			99,260
Derivative liability		45,869			45,869			—		—		(45,869	)		45,869
Affiliate payable		—			—			1		—		(1	)		—
Dividends payable		90,621			—			—		—		—			90,621
Deferred income taxes		—			—			1,780		3,718		—			5,498
Notes and other debt, net		3,503,642			3,503,642			—		—		(3,503,642	)		3,503,642
Total liabilities		3,693,472			3,602,851			76,613		36,742		(3,602,852	)		3,806,826

Common stock		15			—			—		—		—			15
Additional paid-in capital		3,407			—			—		—		—			3,407
Accumulated other comprehensive income		(45,789	)		(45,869	)		—		80		45,789			(45,789	)
Distributions in excess of earnings		(1,246,544	)		(1,152,479	)		1,913,512		503,996		(1,265,029	)		(1,246,544	)
Total shareholders' deficit		(1,288,911	)		(1,198,348	)		1,913,512		504,076		(1,219,240	)		(1,288,911	)
Total Liabilities and Shareholders' Deficit	$	2,404,561		$	2,404,503		$	1,990,125	$	540,818	$	(4,822,092	)	$	2,517,915

	Condensed Consolidating Balance Sheet As of December 31, 2015
(Thousands)	CS&L			CSL Capital			Guarantors		Non-Guarantors		Eliminations			Consolidated
Assets:
Real estate investments, net of accumulated depreciation	$	—		$	—		$	1,839,603	$	533,048	$	—		$	2,372,651
Cash and cash equivalents		17			—			140,197		2,284		—			142,498
Accounts receivable, net		—			—			474		1,609		—			2,083
Affiliate receivable		—			—			151		—		(151	)		—
Intangible assets, net		—			—			—		10,530		—			10,530
Straight-line rent receivable		—			—			11,795		—		—			11,795
Investment in consolidated subsidiaries		2,458,679			2,458,679			11,235		—		(4,928,593	)		—
Other assets		—			—			2,781		298		—			3,079
Total Assets	$	2,458,696		$	2,458,679		$	2,006,236	$	547,769	$	(4,928,744	)	$	2,542,636

Liabilities and Shareholders' Deficit:
Accounts payable, accrued expenses and other liabilities	$	—		$	—		$	9,204	$	1,205	$	—		$	10,409
Accrued interest payable		24,440			24,440			—		—		(24,440	)		24,440
Deferred revenue		—			—			44,862		22,955		—			67,817
Derivative liability		5,427			5,427			—		—		(5,427	)		5,427
Affiliate payable		—			—			—		151		(151	)		—
Dividends payable		90,507			—			—		—		—			90,507
Deferred income taxes		—			—			1,677		4,037		—			5,714
Notes and other debt, net		3,505,228			3,505,228			—		—		(3,505,228	)		3,505,228
Total liabilities		3,625,602			3,535,095			55,743		28,348		(3,535,246	)		3,709,542

Common stock		15			—			—		—		—			15
Additional paid-in capital		1,392			—			—		—		—			1,392
Accumulated other comprehensive income		(5,427	)		(5,427	)		—		—		5,427			(5,427	)
Distributions in excess of earnings		(1,162,886	)		(1,070,989	)		1,950,493		519,421		(1,398,925	)		(1,162,886	)
Total shareholders' deficit		(1,166,906	)		(1,076,416	)		1,950,493		519,421		(1,393,498	)		(1,166,906	)
Total Liabilities and Shareholders' Deficit	$	2,458,696		$	2,458,679		$	2,006,236	$	547,769	$	(4,928,744	)	$	2,542,636

	Condensed Consolidating Statement of Comprehensive Income (Loss) For the Three Months Ended March 31, 2016
(Thousands)	CS&L			CSL Capital			Guarantors			Non-Guarantors			Eliminations			Consolidated
Revenues:
Rental revenues	$	—		$	—		$	168,275		$	366		$	—		$	168,641
Consumer CLEC		—			—			—			6,034			—			6,034
Total revenues		—			—			168,275			6,400			—			174,675
Costs and Expenses:
Interest expense		66,145			66,145			(96	)		—			(66,145	)		66,049
Depreciation and amortization		—			—			64,085			22,255			—			86,340
General and administrative expense		930			—			4,163			96			—			5,189
Operating expense		—			—			—			4,707			—			4,707
Transaction related costs		—			—			3,910			—			—			3,910
Total costs and expenses		67,075			66,145			72,062			27,058			(66,145	)		166,195
Earnings (losses) from consolidated subsidiaries		75,111			75,111			—			—			(150,222	)		—
Income (loss) before income taxes		8,036			8,966			96,213			(20,658	)		(84,077	)		8,480
Income tax expense		—			—			248			196			—			444
Net income (loss)	$	8,036		$	8,966		$	95,965		$	(20,854	)	$	(84,077	)	$	8,036

Comprehensive (loss) income	$	(32,326	)	$	(31,476	)	$	95,965		$	(20,774	)	$	(43,715	)	$	(32,326	)

	Condensed Consolidating Statement of Cash Flows For the Three Months Ended March 31, 2016
(Thousands)	CS&L			CSL Capital		Guarantors			Non-Guarantors		Eliminations			Consolidated
Cash flow from operating activities
Net cash provided by (used in) operating activities	$	97,665		$	—	$	153,550		$	1,181	$	(130,695	)	$	121,701

Cash flow from investing activities
Acquisition of real estate		—			—		(1,347	)		—		—			(1,347	)
Acquisition of business, to include cash acquired		—			—		—			111		—			111
Capital expenditures		—			—		(77	)		—		—			(77	)
Net cash (used in) provided by investing activities		—			—		(1,424	)		111		—			(1,313	)

Cash flow from financing activities
Principal payment on debt		(6,044	)		—		—			—		—			(6,044	)
Net share settlement (Note 9)		(1,266	)		—		—			—		—			(1,266	)
Dividends paid		(90,314	)		—		—			—		—			(90,314	)
Intercompany transactions, net		—			—		(132,165	)		1,470		130,695			—
Net cash (used in) provided by investing activities		(97,624	)		—		(132,165	)		1,470		130,695			(97,624	)

Effect of exchange rates on cash and cash equivalents		—			—		—			78		—			78

Net increase in cash and cash equivalents		41			—		19,961			2,840		—			22,842
Cash and cash equivalents, December 31, 2015		17			—		140,197			2,284		—			142,498
Cash and cash equivalents, March 31, 2016	$	58		$	—	$	160,158		$	5,124	$	—		$	165,340

Subsequent Events	3 Months Ended
Subsequent Events	Mar. 31, 2016
Subsequent Events [Abstract]
Subsequent Events	Note 15. Subsequent Events On May 2, 2016, we completed the previously announced acquisition of PEG Bandwidth, LLC (“PEG”), which was owned by affiliates of Associated Partners, L.P. PEG is a leading provider of infrastructure solutions including cell site backhaul and dark fiber for telecom carriers and enterprises and has an extensive fiber network in the Northeast, Mid-Atlantic, Illinois and South Central regions of the United States. The purchase price for all outstanding equity interests of PEG was valued at $413 million, subject to adjustment, and included $315 million of cash, issuance of one million shares of the Company’s common stock, and the issuance of 87,500 shares of the Company’s 3% Series A Convertible Preferred Stock. We funded the cash portion of the transaction through cash on hand and borrowings under our Revolving Credit Facility. On May 12, 2016, the Company completed the previously announced transaction with Windstream pursuant to which the Company acquired 32 wireless towers owned by Windstream and operating rights for 49 wireless towers previously conveyed to the Company in the Spin-off for a purchase price of approximately $3 million. Wireless carriers currently leasing access to these towers became customers of CS&L in the transaction.

Description of Business	3 Months Ended
Description of Business	Mar. 31, 2016
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”). 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.

Basis of Presentation	3 Months Ended
Basis of Presentation	Mar. 31, 2016
Consumer CLEC Business
Basis of Presentation	Note 2. Basis of Presentation Subsequent to the Spin-Off, all financial results of the Consumer CLEC Business are reported within the consolidated financial statements of CS&L. The accompanying unaudited Statement of Revenues and Direct Expenses for the three months ended March 31, 2015 has 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 results of operations of the Consumer CLEC Business. Additionally, the interim financial statement has been prepared consistent with Article 10 of Regulation S-X. The elements of the financial statement 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 period presented have been included. The results of operations for the interim period is not necessarily indicative of results for the full year. The accompanying Statement 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 4. The Statement 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.

Summary of Significant Accounting Policies	3 Months Ended
Summary of Significant Accounting Policies	Mar. 31, 2016
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 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. 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. In assessing collectability of receivables, 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 $83,000 for the three months ended March 31, 2015. 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. The Company is in the process of evaluating this guidance to determine the impact it will have on our financial statements. Subsequent Events—The accompanying financial statement of the Consumer CLEC Business was derived from the consolidated financial statements of Windstream, which issued its interim unaudited consolidated financial statements for the quarterly period ended March 31, 2015 on May 7, 2015. Accordingly, management has evaluated transactions for consideration as recognized subsequent events in the accompanying financial statement through the date of May 12, 2016.

Allocations	3 Months Ended
Allocations	Mar. 31, 2016
Consumer CLEC Business
Allocations [Line Items]
Allocations	Note 4. Allocations As described in Note 2, the accompanying Statement 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 revenues” 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.

Basis of Presentation and Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2016
Summary Of Significant Accounting Policies [Line Items]
Income Taxes	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.
Business Combinations	Business Combinations—In accordance with ASC 805, Business Combinations, we apply the acquisition method of accounting for acquisitions meeting the definition of a business combination, where assets acquired and liabilities assumed are recorded at fair value at the date of each acquisition, and the results of operations are included with those of the Company from the dates of the respective acquisitions. Any excess of the purchase price paid by the Company over the amounts recognized for assets acquired and liabilities assumed is recorded as goodwill. The Company continues to evaluate acquisitions for a period not to exceed one year after the applicable acquisition date of each transaction to determine whether any additional adjustments are needed to the allocation of the purchase price paid for the assets acquired and liabilities assumed.
Real Property Interests	Real Property Interests—During the quarter ended March 31, 2016, we initiated a program whereby we acquire real property interests from third parties owning land where communications infrastructure assets are located and who desired to monetize the underlying real property. These real property interests entitle us to receive rental payments from leases on our sites. The financial results of the acquired real property interests are included in the Leasing segment from the date of acquisition and were not material, individually or in the aggregate, to our results of operations. During the three months ended March 31, 2016, we invested approximately $1.3 million for the acquisition of real property interests which are recorded into real estate investments on our Condensed Consolidated Balance Sheet.
Foreign Currency Translation	Foreign Currency Translation—The financial statements of our international subsidiaries whose functional currency is the local currency are translated into U.S. dollars using the exchange rate at the balance sheet date for assets and liabilities and the weighted average exchange rate for the applicable period for revenues, expenses, gains and losses. Translation adjustments are recorded as a separate component of comprehensive income in stockholders’ equity.
Recently Issued Accounting Standards	Recently Issued Accounting Standards—In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 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. The Company is in the process of evaluating this guidance to determine the impact it will have on our financial statements. In February 2016, the FASB issued ASU No. 2016-02, Leases (“ASC 842”), which sets out the principles for the recognition, measurement, presentation and disclosure of leases for both parties to a contract (i.e. lessees and lessors). The new standard requires lessees to apply a dual approach, classifying leases as either finance or operating leases based on the principle of whether or not the lease is effectively a financed purchase by the lessee. This classification will determine whether lease expense is recognized based on an effective interest method or on a straight line basis over the term of the lease, respectively. A lessee is also required to record a right-of-use asset and a lease liability for all leases with a term of greater than 12 months regardless of their classification. Leases with a term of 12 months or less will be accounted for similar to existing guidance for operating leases today. ASC 842 is effective for fiscal years and interim periods beginning after December 15, 2018, and early adoption is permitted. The Company is in the process of evaluating this guidance to determine the impact it will have on our financial statements. In March 2016, the FASB issued ASU 2016-09, Improvements to Employee Share-Based Payment Accounting (ASU 2016-09”) ASU 2016-09 simplifies several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. ASU 2016-09 is effective for fiscal years beginning after December 15, 2016, and interim periods within those fiscal years and early adoption is permitted. The Company is currently in the process of evaluating the impact of adoption of the ASU 2016-09 on its consolidated financial statements.
Consumer CLEC Business
Summary Of Significant Accounting Policies [Line Items]
Recently Issued Accounting Standards	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. The Company is in the process of evaluating this guidance to determine the impact it will have on our financial statements.
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 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.
Revenue Recognition	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. In assessing collectability of receivables, 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 $83,000 for the three months ended March 31, 2015.
Subsequent Events	Subsequent Events—The accompanying financial statement of the Consumer CLEC Business was derived from the consolidated financial statements of Windstream, which issued its interim unaudited consolidated financial statements for the quarterly period ended March 31, 2015 on May 7, 2015. Accordingly, management has evaluated transactions for consideration as recognized subsequent events in the accompanying financial statement through the date of May 12, 2016

Fair Value of Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2016

Fair Value Disclosures [Abstract]

Schedule of Fair Value Valuation of Financial Instruments

The following table summarizes the fair value of our financial instruments at March 31, 2016 and December 31, 2015:

(Thousands)	Total		Quoted Prices in Active Markets (Level 1)		Prices with Other Observable Inputs (Level 2)		Prices with Unobservable Inputs (Level 3)
At March 31, 2016
Assets
Cash and cash equivalents	$	165,340	$	165,340	$	-	$	-
Accounts and other receivables		832		832		-		-
Total	$	166,172	$	166,172	$	-	$	-

Liabilities
Senior secured notes - 6.00%, due April 15, 2023	$	388,000	$	-	$	388,000	$	-
Senior unsecured notes - 8.25%, due October 15, 2023		1,023,975		-		1,023,975		-
Senior secured term loan B - variable rate, due October 24, 2022		2,044,302		-		2,044,302		-
Derivative liability		45,869		-		45,869		-
Accounts, interest and dividends payable		152,557		152,557		-		-
Total	$	3,654,703	$	152,557	$	3,502,146	$	-

(Thousands)	Total		Quoted Prices in Active Markets (Level 1)		Prices with Other Observable Inputs (Level 2)		Prices with Unobservable Inputs (Level 3)
At December 31, 2015
Assets
Cash and cash equivalents	$	142,498	$	142,498	$	-	$	-
Accounts and other receivables		2,083		2,083		-		-
Total	$	144,581	$	144,581	$	-	$	-

Liabilities
Senior secured notes - 6.00%, due April 15, 2023	$	376,000	$	-	$	376,000	$	-
Senior unsecured notes - 8.25%, due October 15, 2023		937,950		-		937,950		-
Senior secured term loan B - variable rate, due October 24, 2022		1,986,198		-		1,986,198		-
Derivative liability		5,427		-		5,427		-
Accounts, interest and dividends payable		125,356		125,356		-		-
Total	$	3,430,931	$	125,356	$	3,305,575	$	-

Real Estate Investments (Tables)

3 Months Ended

Mar. 31, 2016

Real Estate [Abstract]

Schedule of Carrying Value of Real Estate Investments

The carrying value of real estate investments is as follows:

(Thousands)	Depreciable Lives	March 31, 2016			December 31, 2015
Land		$	33,769		$	33,386
Building and improvements	3 - 40 years		314,040			313,736
Real property interests	50 years		1,347			-
Poles	13 - 40 years		228,585			228,031
Fiber	7 - 40 years		1,973,547			1,948,192
Copper	7 - 40 years		3,483,885			3,475,987
Conduit	13 - 47 years		89,663			89,460
Construction in progress			2,586			4,749
			6,127,422			6,093,541
Less accumulated depreciation			(3,806,298	)		(3,720,890	)
Net real estate investments		$	2,321,124		$	2,372,651

Derivative Instruments and Hedging Activities (Tables)

3 Months Ended

Mar. 31, 2016

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		March 31, 2016				December 31, 2015
Interest rate swaps		Derivative liability		$	45,869			$	5,427

Intangible Assets (Tables)

3 Months Ended

Mar. 31, 2016

Goodwill And Intangible Assets Disclosure [Abstract]

Schedule of Carrying Value of the Intangible Assets

The carrying value of the intangible assets is as follows:

(Thousands)	March 31, 2016			December 31, 2015
Customer lists	$	36,001		$	34,501
Less: Accumulated amortization		(24,811	)		(23,971	)
Intangible assets, net	$	11,190		$	10,530

Notes and Other Debt (Tables)

3 Months Ended

Mar. 31, 2016

Long Term Debt [Abstract]

Schedule of Notes and Other Debt

Notes and other debt is as follows:

(Thousands)	March 31, 2016			December 31, 2015
Principal amount	$	3,633,950		$	3,639,300
Less unamortized discount and debt issuance costs		(130,308	)		(134,072	)
Notes and other debt less unamortized discount and debt issuance costs	$	3,503,642		$	3,505,228

Notes and other debt at March 31, 2016 and December 31, 2015 consisted of the following:

	March 31, 2016					December 31, 2015
(Thousands)	Principal		Unamortized Discount and Debt Issuance Costs			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	$	(6,582	)	$	400,000	$	(6,767	)
Senior unsecured notes - 8.25%, due October 15, 2023 (discount is based on imputed interest rate of 9.06%)		1,110,000		(49,074	)		1,110,000		(50,200	)
Senior secured term loan B - variable rate, due October 24, 2022 (discount is based on imputed interest rate of 5.66%)		2,123,950		(74,652	)		2,129,300		(77,105	)
Senior secured revolving credit facility, variable rate, due April 24, 2020		-		-			-		-
Total	$	3,633,950	$	(130,308	)	$	3,639,300	$	(134,072	)

- 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

Earnings Per Share (Tables)

3 Months Ended

Mar. 31, 2016

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:

	Three Months Ended
(Thousands, except per share data)	March 31, 2016
Basic earnings per share:
Numerator:
Net income	$	8,036
Less: Income allocated to participating securities		(355	)
Net income applicable to common shares	$	7,681
Denominator:
Basic weighted-average common shares outstanding		149,918
Basic earnings per common share	$	0.05

	Three Months Ended
(Thousands, except per share data)	March 31, 2016
Diluted earnings per share:
Numerator:
Net income	$	8,036
Less: Income allocated to participating securities		(355	)
Net income applicable to common shares	$	7,681
Denominator:
Basic weighted-average common shares outstanding		149,918
Effect of dilutive non-participating securities		66
Weighted-average shares for dilutive earnings per common share		149,984
Dilutive earnings per common share	$	0.05

Segment Information (Tables)

3 Months Ended

Mar. 31, 2016

Segment Reporting [Abstract]

Schedule of Segment Reporting Information

Selected financial data related to our segments is presented below for the three months ended March 31, 2016:

	Three Months Ended March 31, 2016
(Thousands)	Leasing Operations		Consumer CLEC		Subtotal of Reportable Segments
Revenues	$	168,641	$	6,034	$	174,675
Adjusted EBITDA		164,377		1,332		165,709

Depreciation and amortization		85,525		815		86,340
Interest expense						66,049
Transaction related costs						3,910
Stock-based compensation						930
Income tax expense						444
Net income					$	8,036

Capital expenditures		77		-		77

Summary of Total Assets by Business Segment

Total assets by business segment as of March 31, 2016 and December 31, 2015 are as follows:

(Thousands)	March 31, 2016		December 31, 2015
Leasing operations	$	2,502,957	$	2,527,915
Consumer CLEC		14,958		14,721
Subtotal of reportable segments	$	2,517,915	$	2,542,636

Accumulated Other Comprehensive Income (Tables)

3 Months Ended

Mar. 31, 2016

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 for the three months ended March 31, 2016:

(Thousands)	Currency Translation Adjustment		Changes in Fair Value of Effective Cash Flow Hedge			Total
Beginning balance at December 31, 2015	$	-	$	(5,427	)	$	(5,427	)
Other comprehensive loss before reclassifications		80		(46,379	)		(46,299	)
Amounts reclassified from accumulated other comprehensive income		-		5,937			5,937
Ending balance at March 31, 2016	$	80	$	(45,869	)	$	(45,789	)

Supplemental Guarantor Information (Tables)

3 Months Ended

Mar. 31, 2016

Condensed Financial Information Of Parent Company Only Disclosure [Abstract]

Condensed Consolidated Balance Sheet

	Condensed Consolidating Balance Sheet As of March 31, 2016
(Thousands)	CS&L			CSL Capital			Guarantors		Non-Guarantors		Eliminations			Consolidated
Assets:
Real estate investments, net of accumulated depreciation	$	—		$	—		$	1,799,279	$	521,845	$	—		$	2,321,124
Cash and cash equivalents		58			—			160,158		5,124		—			165,340
Accounts receivable, net		—			—			400		432		—			832
Affiliate receivable		—			—			—		1		(1	)		—
Intangible assets, net		—			—			—		11,190		—			11,190
Straight-line rent receivable		—			—			16,117		—		—			16,117
Investment in consolidated subsidiaries		2,404,503			2,404,503			11,235		1,850		(4,822,091	)		-
Other assets		—			—			2,936		376		—			3,312
Total Assets	$	2,404,561		$	2,404,503		$	1,990,125	$	540,818	$	(4,822,092	)	$	2,517,915
Liabilities and Shareholders' Deficit:
Accounts payable, accrued expenses and other liabilities	$	—		$	—		$	6,880	$	1,716	$	—		$	8,596
Accrued interest payable		53,340			53,340			—		—		(53,340	)		53,340
Deferred revenue		—			—			67,952		31,308		—			99,260
Derivative liability		45,869			45,869			—		—		(45,869	)		45,869
Affiliate payable		—			—			1		—		(1	)		—
Dividends payable		90,621			—			—		—		—			90,621
Deferred income taxes		—			—			1,780		3,718		—			5,498
Notes and other debt, net		3,503,642			3,503,642			—		—		(3,503,642	)		3,503,642
Total liabilities		3,693,472			3,602,851			76,613		36,742		(3,602,852	)		3,806,826

Common stock		15			—			—		—		—			15
Additional paid-in capital		3,407			—			—		—		—			3,407
Accumulated other comprehensive income		(45,789	)		(45,869	)		—		80		45,789			(45,789	)
Distributions in excess of earnings		(1,246,544	)		(1,152,479	)		1,913,512		503,996		(1,265,029	)		(1,246,544	)
Total shareholders' deficit		(1,288,911	)		(1,198,348	)		1,913,512		504,076		(1,219,240	)		(1,288,911	)
Total Liabilities and Shareholders' Deficit	$	2,404,561		$	2,404,503		$	1,990,125	$	540,818	$	(4,822,092	)	$	2,517,915

Condensed Consolidated Statement of Comprehensive Income (Loss)

	Condensed Consolidating Statement of Comprehensive Income (Loss) For the Three Months Ended March 31, 2016
(Thousands)	CS&L			CSL Capital			Guarantors			Non-Guarantors			Eliminations			Consolidated
Revenues:
Rental revenues	$	—		$	—		$	168,275		$	366		$	—		$	168,641
Consumer CLEC		—			—			—			6,034			—			6,034
Total revenues		—			—			168,275			6,400			—			174,675
Costs and Expenses:
Interest expense		66,145			66,145			(96	)		—			(66,145	)		66,049
Depreciation and amortization		—			—			64,085			22,255			—			86,340
General and administrative expense		930			—			4,163			96			—			5,189
Operating expense		—			—			—			4,707			—			4,707
Transaction related costs		—			—			3,910			—			—			3,910
Total costs and expenses		67,075			66,145			72,062			27,058			(66,145	)		166,195
Earnings (losses) from consolidated subsidiaries		75,111			75,111			—			—			(150,222	)		—
Income (loss) before income taxes		8,036			8,966			96,213			(20,658	)		(84,077	)		8,480
Income tax expense		—			—			248			196			—			444
Net income (loss)	$	8,036		$	8,966		$	95,965		$	(20,854	)	$	(84,077	)	$	8,036

Comprehensive (loss) income	$	(32,326	)	$	(31,476	)	$	95,965		$	(20,774	)	$	(43,715	)	$	(32,326	)

Condensed Consolidated Statement of Cash Flows

	Condensed Consolidating Statement of Cash Flows For the Three Months Ended March 31, 2016
(Thousands)	CS&L			CSL Capital		Guarantors			Non-Guarantors		Eliminations			Consolidated
Cash flow from operating activities
Net cash provided by (used in) operating activities	$	97,665		$	—	$	153,550		$	1,181	$	(130,695	)	$	121,701

Cash flow from investing activities
Acquisition of real estate		—			—		(1,347	)		—		—			(1,347	)
Acquisition of business, to include cash acquired		—			—		—			111		—			111
Capital expenditures		—			—		(77	)		—		—			(77	)
Net cash (used in) provided by investing activities		—			—		(1,424	)		111		—			(1,313	)

Cash flow from financing activities
Principal payment on debt		(6,044	)		—		—			—		—			(6,044	)
Net share settlement (Note 9)		(1,266	)		—		—			—		—			(1,266	)
Dividends paid		(90,314	)		—		—			—		—			(90,314	)
Intercompany transactions, net		—			—		(132,165	)		1,470		130,695			—
Net cash (used in) provided by investing activities		(97,624	)		—		(132,165	)		1,470		130,695			(97,624	)

Effect of exchange rates on cash and cash equivalents		—			—		—			78		—			78

Net increase in cash and cash equivalents		41			—		19,961			2,840		—			22,842
Cash and cash equivalents, December 31, 2015		17			—		140,197			2,284		—			142,498
Cash and cash equivalents, March 31, 2016	$	58		$	—	$	160,158		$	5,124	$	—		$	165,340

Basis of Presentation and Summary of Significant Accounting Policies - Additional Information (Details)	3 Months Ended
	Mar. 31, 2016 USD ($)
Accounting Policies [Abstract]
Current liabilities for uncertain income tax positions	$ 0
Acquisition of real estate	$ 1,347,000

Business Combinations - Additional Information (Details) - USD ($) $ in Thousands		3 Months Ended
	Jan. 22, 2016	Mar. 31, 2016
Business Acquisition [Line Items]
Equity consideration transferred on acquisition		$ 974
Summit Wireless Infrastructure LLC
Business Acquisition [Line Items]
Percentage of equity acquired	100.00%
Business acquisition date		Jan. 22, 2016
Equity consideration transferred on acquisition	$ 1,100

Fair Value of Financial Instruments - Schedule of Fair Value Valuation of Financial Instruments (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Assets
Cash and cash equivalents	$ 165,340	$ 142,498
Accounts and other receivables	832	2,083
Total	166,172	144,581
Liabilities
Derivative liability	45,869	5,427
Accounts, interest and dividends payable	152,557	125,356
Total	3,654,703	3,430,931
6.00% Senior Secured Notes
Liabilities
Senior notes	388,000	376,000
8.25% Senior Unsecured Notes
Liabilities
Senior notes	1,023,975	937,950
Senior Secured Term Loan B Facility
Liabilities
Senior secured term loan	2,044,302	1,986,198
Quoted Prices in Active Markets (Level 1)
Assets
Cash and cash equivalents	165,340	142,498
Accounts and other receivables	832	2,083
Total	166,172	144,581
Liabilities
Accounts, interest and dividends payable	152,557	125,356
Total	152,557	125,356
Prices with Other Observable Inputs (Level 2)
Liabilities
Derivative liability	45,869	5,427
Total	3,502,146	3,305,575
Prices with Other Observable Inputs (Level 2) \| 6.00% Senior Secured Notes
Liabilities
Senior notes	388,000	376,000
Prices with Other Observable Inputs (Level 2) \| 8.25% Senior Unsecured Notes
Liabilities
Senior notes	1,023,975	937,950
Prices with Other Observable Inputs (Level 2) \| Senior Secured Term Loan B Facility
Liabilities
Senior secured term loan	$ 2,044,302	$ 1,986,198

Fair Value of Financial Instruments - Schedule of Fair Value Valuation of Financial Instruments (Parenthetical) (Details)	3 Months Ended	8 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
6.00% Senior Secured Notes
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Issuance senior notes, stated percentage	6.00%	6.00%
Debt instrument, maturity date	Apr. 15, 2023	Apr. 15, 2023
8.25% Senior Unsecured Notes
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Issuance senior notes, stated percentage	8.25%	8.25%
Debt instrument, maturity date	Oct. 15, 2023	Oct. 15, 2023
Senior Secured Term Loan B Facility
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Debt instrument, maturity date	Oct. 24, 2022	Oct. 24, 2022

Fair Value of Financial Instruments - Additional Information (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Principal amount of notes and other debt	$ 3,633,950	$ 3,639,300
Prices with Other Observable Inputs (Level 2)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Notes and other debt, fair value	$ 3,460,000

Real Estate Investments - Schedule of Carrying Value of Real Estate Investments (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Real Estate Investments [Line Items]
Real estate investments	$ 6,127,422	$ 6,093,541
Accumulated depreciation - real estate investments	(3,806,298)	(3,720,890)
Net real estate investments	2,321,124	2,372,651
Land
Real Estate Investments [Line Items]
Real estate investments	33,769	33,386
Building and Improvements
Real Estate Investments [Line Items]
Real estate investments	$ 314,040	313,736
Real Property Interests
Real Estate Investments [Line Items]
Depreciable Lives	50 years
Real estate investments	$ 1,347
Poles
Real Estate Investments [Line Items]
Real estate investments	228,585	228,031
Fiber
Real Estate Investments [Line Items]
Real estate investments	1,973,547	1,948,192
Copper
Real Estate Investments [Line Items]
Real estate investments	3,483,885	3,475,987
Conduit
Real Estate Investments [Line Items]
Real estate investments	89,663	89,460
Construction in progress
Real Estate Investments [Line Items]
Real estate investments	$ 2,586	$ 4,749
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	3 Months Ended
	Mar. 31, 2016 USD ($)
Real Estate [Abstract]
Real estate investment, depreciation expense	$ 85.4

Derivative Instruments and Hedging Activities - Additional Information (Details) - USD ($)		3 Months Ended
	Apr. 27, 2015	Mar. 31, 2016
Derivative Instruments And Hedging Activities Disclosures [Line Items]
Unrealized loss on derivative instruments		$ (46,400,000)
Ineffective portion of change in fair value derivatives		0
Increase decrease in estimated interest expense		23,600,000
Interest Expense
Derivative Instruments And Hedging Activities Disclosures [Line Items]
Reclassification of other comprehensive income		$ 5,900,000
Interest Rate Swap
Derivative Instruments And Hedging Activities Disclosures [Line Items]
Derivative, notional value	$ 2,120,000,000
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) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Derivatives Fair Value [Line Items]
Derivative liability	$ 45,869	$ 5,427
Interest Rate Swap
Derivatives Fair Value [Line Items]
Derivative liability	$ 45,869	$ 5,427

Intangible Assets - Schedule of Carrying Value of the Intangible Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Finite Lived Intangible Assets [Line Items]
Intangible assets, net	$ 11,190	$ 10,530
Customer Lists
Finite Lived Intangible Assets [Line Items]
Intangible assets, gross	36,001	34,501
Less: Accumulated amortization	(24,811)	(23,971)
Intangible assets, net	$ 11,190	$ 10,530

Intangible Assets - Additional Information (Details) $ in Millions	3 Months Ended
	Mar. 31, 2016 USD ($)
Goodwill And Intangible Assets Disclosure [Abstract]
Amortization	$ 0.8
Estimated amortization expense for 2016	3.4
2017	2.8
2018	2.1
2019	1.5
2020	1.0
2021	$ 0.6

Notes and Other Debt - Schedule of Notes and Other Debt (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Principal amount of notes and other debt	$ 3,633,950	$ 3,639,300
Unamortized discount and debt issuance costs	(130,308)	(134,072)
Notes and other debt less unamortized discount and debt issuance costs	3,503,642	3,505,228
Senior Secured Notes - 6.00% Due April 15, 2023
Debt Instrument [Line Items]
Principal amount of notes and other debt	400,000	400,000
Unamortized discount and debt issuance costs	(6,582)	(6,767)
Senior Unsecured Notes - 8.25% Due October 15, 2023
Debt Instrument [Line Items]
Principal amount of notes and other debt	1,110,000	1,110,000
Unamortized discount and debt issuance costs	(49,074)	(50,200)
Senior Secured Term Loan B Facility
Debt Instrument [Line Items]
Principal amount of notes and other debt	2,123,950	2,129,300
Unamortized discount and debt issuance costs	$ (74,652)	$ (77,105)

Notes and Other Debt - Schedule of Notes and Other Debt (Parenthetical) (Details)	3 Months Ended	8 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Senior Secured Notes - 6.00% Due April 15, 2023
Debt Instrument [Line Items]
Issuance senior notes, stated percentage	6.00%	6.00%
Debt instrument, maturity date	Apr. 15, 2023	Apr. 15, 2023
Debt instrument, imputed interest rate	6.29%	6.29%
Senior Unsecured Notes - 8.25% Due October 15, 2023
Debt Instrument [Line Items]
Issuance senior notes, stated percentage	8.25%	8.25%
Debt instrument, maturity date	Oct. 15, 2023	Oct. 15, 2023
Debt instrument, imputed interest rate	9.06%	9.06%
Senior Secured Term Loan B Facility
Debt Instrument [Line Items]
Debt instrument, maturity date	Oct. 24, 2022	Oct. 24, 2022
Debt instrument, imputed interest rate	5.66%	5.66%
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 ($)		3 Months Ended	8 Months Ended
	Apr. 25, 2015	Mar. 31, 2016	Dec. 31, 2015	Apr. 23, 2015
Debt Instrument [Line Items]
Amortization of deferred financing costs		$ 1,818,000
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%
Senior Secured Notes - 6.00% Due April 15, 2023
Debt Instrument [Line Items]
Issuance senior notes, stated percentage		6.00%	6.00%
Debt instrument, maturity date		Apr. 15, 2023	Apr. 15, 2023
Senior Unsecured Notes - 8.25% Due October 15, 2023
Debt Instrument [Line Items]
Issuance senior notes, stated percentage		8.25%	8.25%
Debt instrument, maturity date		Oct. 15, 2023	Oct. 15, 2023
Senior Secured Term Loan B Facility
Debt Instrument [Line Items]
Debt instrument, maturity date		Oct. 24, 2022	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 \| Senior Secured Notes - 6.00% Due April 15, 2023
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 \| Senior Unsecured Notes - 8.25% Due October 15, 2023
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

Related Party Transactions - Additional Information (Details)			3 Months Ended	8 Months Ended
	Mar. 29, 2016 USD ($) Tower	Apr. 25, 2015 $ / shares shares	Mar. 31, 2016 USD ($) $ / shares shares	Dec. 31, 2015 USD ($) $ / shares shares
Related Party Transaction [Line Items]
Common stock, shares issued \| shares			150,034,000	149,862,000
Common stock, par value \| $ / shares			$ 0.0001	$ 0.0001
General and administrative expense			$ 5,189,000
Operating expense			4,707,000
Dividends payable			90,621,000	$ 90,507,000
Payments related to tax withholding for share-based compensation			1,266,000
Windstream
Related Party Transaction [Line Items]
Accounts receivable from related party to the collection of revenues of consumer CLEC business revenues			300,000	1,700,000
Dividends payable			$ 17,600,000	$ 17,600,000
Dividend declared date			Mar. 01, 2016	Nov. 06, 2015
Dividend record date			Mar. 31, 2016	Dec. 31, 2015
Dividends payable date			Apr. 15, 2016	Jan. 15, 2016
Common shares withheld to satisfy minimum statutory tax-withholding obligations \| shares			91,412
Payments related to tax withholding for share-based compensation			$ 1,300,000
Number of wireless towers owned \| Tower	32
Number of wireless towers owned by operating rights \| Tower	49
Purchase price of wireless towers to be acquired	$ 3,000,000
Number of acquisition of ownership and operating rights of wireless towers \| Tower	81
Windstream \| Master Lease
Related Party Transaction [Line Items]
Leasing revenue			168,600,000
Windstream \| Transitional Service Agreement
Related Party Transaction [Line Items]
General and administrative expense			19,000
Windstream \| Consumer CLEC Business \| Wholesale Master Services Agreement
Related Party Transaction [Line Items]
Operating expense			3,400,000
Windstream \| Consumer CLEC Business \| Master Services Agreement
Related Party Transaction [Line Items]
Operating expense			$ 400,000
Spinoff \| Windstream \| Consumer CLEC Business
Related Party Transaction [Line Items]
Common stock, shares issued \| shares		149,800,000
Common stock, par value \| $ / shares		$ 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	3 Months Ended
	Mar. 31, 2016 USD ($) $ / shares shares
Numerator:
Net income	$ 8,036
Less: Income allocated to participating securities	(355)
Net income applicable to common shareholders	$ 7,681
Denominator:
Basic \| shares	149,918
Basic earnings per common share \| $ / shares	$ 0.05
Numerator:
Net income	$ 8,036
Less: Income allocated to participating securities	(355)
Net income applicable to common shares	$ 7,681
Denominator:
Basic weighted-average common shares outstanding \| shares	149,918
Effect of dilutive non-participating securities \| shares	66
Weighted-average shares for dilutive earnings per common share \| shares	149,984
Dilutive earnings per common share \| $ / shares	$ 0.05

Segment Information - Additional Information (Details)	3 Months Ended
Segment Information - Additional Information (Details)	Mar. 31, 2016 Segment
Segment Reporting [Abstract]
Number of Reportable Segments	2

Segment Information - Schedule of Segment Information (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2016 USD ($)
Segment Reporting Information [Line Items]
Revenues	$ 174,675
Adjusted EBITDA	165,709
Depreciation and amortization	86,340
Interest expense	66,049
Transaction related costs	3,910
Stock-based compensation	930
Income tax expense	444
Net income	8,036
Capital expenditures	77
Leasing Operations
Segment Reporting Information [Line Items]
Revenues	168,641
Adjusted EBITDA	164,377
Depreciation and amortization	85,525
Capital expenditures	77
Consumer CLEC
Segment Reporting Information [Line Items]
Revenues	6,034
Adjusted EBITDA	1,332
Depreciation and amortization	$ 815

Segment Information - Summary of Total Assets by Business Segment (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Segment Reporting Information [Line Items]
Total assets	$ 2,517,915	$ 2,542,636
Leasing Operations
Segment Reporting Information [Line Items]
Total assets	2,502,957	2,527,915
Consumer CLEC
Segment Reporting Information [Line Items]
Total assets	$ 14,958	$ 14,721

Commitments and Contingencies - Additional Information (Details)	Mar. 31, 2016 USD ($)
Commitments And Contingencies Disclosure [Abstract]
Obligations under tax matters agreement	$ 0

Accumulated Other Comprehensive Income - Schedule of Changes in Accumulated Other Comprehensive Income by Component (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2016 USD ($)
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning balance, value	$ (1,166,906)
Ending balance, value	(1,288,911)
Currency Translation Adjustment
Accumulated Other Comprehensive Income Loss [Line Items]
Other comprehensive loss before reclassifications	80
Ending balance, value	80
Accumulated Net Gain Loss From Designated Or Qualifying Cash Flow Hedges
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning balance, value	(5,427)
Other comprehensive loss before reclassifications	(46,379)
Amounts reclassified from accumulated other comprehensive income	5,937
Ending balance, value	(45,869)
Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning balance, value	(5,427)
Other comprehensive loss before reclassifications	(46,299)
Amounts reclassified from accumulated other comprehensive income	5,937
Ending balance, value	$ (45,789)

Supplemental Guarantor Information - Condensed Consolidating Balance Sheet (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Assets:
Real estate investments, net of accumulated depreciation	$ 2,321,124	$ 2,372,651
Cash and cash equivalents	165,340	142,498
Accounts receivable, net	832	2,083
Intangible assets, net	11,190	10,530
Straight-line rent receivable	16,117	11,795
Other assets	3,312	3,079
Total Assets	2,517,915	2,542,636
Liabilities and Shareholders' Deficit:
Accounts payable, accrued expenses and other liabilities	8,596	10,409
Accrued interest payable	53,340	24,440
Deferred revenue	99,260	67,817
Derivative liability	45,869	5,427
Dividends payable	90,621	90,507
Deferred income taxes	5,498	5,714
Notes and other debt, net	3,503,642	3,505,228
Total liabilities	3,806,826	3,709,542
Common stock	15	15
Additional paid-in capital	3,407	1,392
Accumulated other comprehensive income (loss)	(45,789)	(5,427)
Distributions in excess of accumulated earnings	(1,246,544)	(1,162,886)
Total shareholders' deficit	(1,288,911)	(1,166,906)
Total Liabilities and Shareholders' Deficit	2,517,915	2,542,636
Eliminations
Assets:
Affiliate receivable	(1)	(151)
Investment in consolidated subsidiaries	(4,822,091)	(4,928,593)
Total Assets	(4,822,092)	(4,928,744)
Liabilities and Shareholders' Deficit:
Accrued interest payable	(53,340)	(24,440)
Derivative liability	(45,869)	(5,427)
Affiliate payable	(1)	(151)
Notes and other debt, net	(3,503,642)	(3,505,228)
Total liabilities	(3,602,852)	(3,535,246)
Accumulated other comprehensive income (loss)	45,789	5,427
Distributions in excess of accumulated earnings	(1,265,029)	(1,398,925)
Total shareholders' deficit	(1,219,240)	(1,393,498)
Total Liabilities and Shareholders' Deficit	(4,822,092)	(4,928,744)
CS&L, Inc.
Assets:
Cash and cash equivalents	58	17
Investment in consolidated subsidiaries	2,404,503	2,458,679
Total Assets	2,404,561	2,458,696
Liabilities and Shareholders' Deficit:
Accrued interest payable	53,340	24,440
Derivative liability	45,869	5,427
Dividends payable	90,621	90,507
Notes and other debt, net	3,503,642	3,505,228
Total liabilities	3,693,472	3,625,602
Common stock	15	15
Additional paid-in capital	3,407	1,392
Accumulated other comprehensive income (loss)	(45,789)	(5,427)
Distributions in excess of accumulated earnings	(1,246,544)	(1,162,886)
Total shareholders' deficit	(1,288,911)	(1,166,906)
Total Liabilities and Shareholders' Deficit	2,404,561	2,458,696
CSL Capital, LLC
Assets:
Investment in consolidated subsidiaries	2,404,503	2,458,679
Total Assets	2,404,503	2,458,679
Liabilities and Shareholders' Deficit:
Accrued interest payable	53,340	24,440
Derivative liability	45,869	5,427
Notes and other debt, net	3,503,642	3,505,228
Total liabilities	3,602,851	3,535,095
Accumulated other comprehensive income (loss)	(45,869)	(5,427)
Distributions in excess of accumulated earnings	(1,152,479)	(1,070,989)
Total shareholders' deficit	(1,198,348)	(1,076,416)
Total Liabilities and Shareholders' Deficit	2,404,503	2,458,679
Guarantors
Assets:
Real estate investments, net of accumulated depreciation	1,799,279	1,839,603
Cash and cash equivalents	160,158	140,197
Accounts receivable, net	400	474
Affiliate receivable		151
Straight-line rent receivable	16,117	11,795
Investment in consolidated subsidiaries	11,235	11,235
Other assets	2,936	2,781
Total Assets	1,990,125	2,006,236
Liabilities and Shareholders' Deficit:
Accounts payable, accrued expenses and other liabilities	6,880	9,204
Deferred revenue	67,952	44,862
Affiliate payable	1
Deferred income taxes	1,780	1,677
Total liabilities	76,613	55,743
Distributions in excess of accumulated earnings	1,913,512	1,950,493
Total shareholders' deficit	1,913,512	1,950,493
Total Liabilities and Shareholders' Deficit	1,990,125	2,006,236
Non-Guarantors
Assets:
Real estate investments, net of accumulated depreciation	521,845	533,048
Cash and cash equivalents	5,124	2,284
Accounts receivable, net	432	1,609
Affiliate receivable	1
Intangible assets, net	11,190	10,530
Investment in consolidated subsidiaries	1,850
Other assets	376	298
Total Assets	540,818	547,769
Liabilities and Shareholders' Deficit:
Accounts payable, accrued expenses and other liabilities	1,716	1,205
Deferred revenue	31,308	22,955
Affiliate payable		151
Deferred income taxes	3,718	4,037
Total liabilities	36,742	28,348
Accumulated other comprehensive income (loss)	80
Distributions in excess of accumulated earnings	503,996	519,421
Total shareholders' deficit	504,076	519,421
Total Liabilities and Shareholders' Deficit	$ 540,818	$ 547,769

Supplemental Guarantor Information - Condensed Consolidating Statement of Comprehensive Income (Loss) (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2016 USD ($)
Revenues:
Total revenues	$ 174,675
Costs and Expenses:
Interest expense	66,049
Depreciation and amortization	86,340
General and administrative expense	5,189
Operating expense	4,707
Transaction related costs	3,910
Total costs and expenses	166,195
Income before income taxes	8,480
Income tax expense	444
Net income	8,036
Comprehensive (loss) income	(32,326)
Eliminations
Costs and Expenses:
Interest expense	(66,145)
Total costs and expenses	(66,145)
Earnings (losses) from consolidated subsidiaries	(150,222)
Income before income taxes	(84,077)
Net income	(84,077)
Comprehensive (loss) income	(43,715)
CS&L, Inc.
Costs and Expenses:
Interest expense	66,145
General and administrative expense	930
Total costs and expenses	67,075
Earnings (losses) from consolidated subsidiaries	75,111
Income before income taxes	8,036
Net income	8,036
Comprehensive (loss) income	(32,326)
CSL Capital, LLC
Costs and Expenses:
Interest expense	66,145
Total costs and expenses	66,145
Earnings (losses) from consolidated subsidiaries	75,111
Income before income taxes	8,966
Net income	8,966
Comprehensive (loss) income	(31,476)
Guarantors
Revenues:
Total revenues	168,275
Costs and Expenses:
Interest expense	(96)
Depreciation and amortization	64,085
General and administrative expense	4,163
Transaction related costs	3,910
Total costs and expenses	72,062
Income before income taxes	96,213
Income tax expense	248
Net income	95,965
Comprehensive (loss) income	95,965
Non-Guarantors
Revenues:
Total revenues	6,400
Costs and Expenses:
Depreciation and amortization	22,255
General and administrative expense	96
Operating expense	4,707
Total costs and expenses	27,058
Income before income taxes	(20,658)
Income tax expense	196
Net income	(20,854)
Comprehensive (loss) income	(20,774)
Rental Revenues
Revenues:
Total revenues	168,641
Costs and Expenses:
Depreciation and amortization	85,525
Rental Revenues \| Guarantors
Revenues:
Total revenues	168,275
Rental Revenues \| Non-Guarantors
Revenues:
Total revenues	366
Consumer CLEC
Revenues:
Total revenues	6,034
Costs and Expenses:
Depreciation and amortization	815
Consumer CLEC \| Non-Guarantors
Revenues:
Total revenues	$ 6,034

Supplemental Guarantor Information - Condensed Consolidated Statement of Cash Flows (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2016 USD ($)
Cash flow from operating activities
Net cash provided by (used in) operating activities	$ 121,701
Cash flow from investing activities
Acquisition of real estate	(1,347)
Acquisition of business, to include cash acquired	111
Capital expenditures	(77)
Net cash used in investing activities	(1,313)
Cash flow from financing activities
Principal payment on debt	(6,044)
Net share settlement (Note 9)	(1,266)
Dividends paid	(90,314)
Net cash used in financing activities	(97,624)
Effect of exchange rates on cash and cash equivalents	78
Net increase in cash and cash equivalents	22,842
Cash and cash equivalents at beginning of period	142,498
Cash and cash equivalents at end of period	165,340
Eliminations
Cash flow from operating activities
Net cash provided by (used in) operating activities	(130,695)
Cash flow from financing activities
Intercompany transactions, net	130,695
Net cash used in financing activities	130,695
CS&L, Inc.
Cash flow from operating activities
Net cash provided by (used in) operating activities	97,665
Cash flow from financing activities
Principal payment on debt	(6,044)
Net share settlement (Note 9)	(1,266)
Dividends paid	(90,314)
Net cash used in financing activities	(97,624)
Net increase in cash and cash equivalents	41
Cash and cash equivalents at beginning of period	17
Cash and cash equivalents at end of period	58
Guarantors
Cash flow from operating activities
Net cash provided by (used in) operating activities	153,550
Cash flow from investing activities
Acquisition of real estate	(1,347)
Capital expenditures	(77)
Net cash used in investing activities	(1,424)
Cash flow from financing activities
Intercompany transactions, net	(132,165)
Net cash used in financing activities	(132,165)
Net increase in cash and cash equivalents	19,961
Cash and cash equivalents at beginning of period	140,197
Cash and cash equivalents at end of period	160,158
Non-Guarantors
Cash flow from operating activities
Net cash provided by (used in) operating activities	1,181
Cash flow from investing activities
Acquisition of business, to include cash acquired	111
Net cash used in investing activities	111
Cash flow from financing activities
Intercompany transactions, net	1,470
Net cash used in financing activities	1,470
Effect of exchange rates on cash and cash equivalents	78
Net increase in cash and cash equivalents	2,840
Cash and cash equivalents at beginning of period	2,284
Cash and cash equivalents at end of period	$ 5,124

Subsequent Events - Additional Information (Details) $ in Millions			3 Months Ended
	May 12, 2016 USD ($) Tower	May 02, 2016 USD ($) shares	Mar. 31, 2016
PEG Bandwidth LLC
Subsequent Event [Line Items]
Business acquisition date			May 02, 2016
Subsequent Event \| Windstream
Subsequent Event [Line Items]
Number of wireless towers acquired \| Tower	32
Number of wireless towers acquired by operating rights \| Tower	49
Purchase price of wireless towers	$ 3
Subsequent Event \| PEG Bandwidth LLC
Subsequent Event [Line Items]
Purchase price		$ 413
Cash paid for business acquisition		$ 315
Subsequent Event \| PEG Bandwidth LLC \| 3% Series A Convertible Preferred Stock
Subsequent Event [Line Items]
Issuance of shares \| shares		87,500
Percentage of dividend rate on convertible preferred stock		3.00%
Subsequent Event \| PEG Bandwidth LLC \| Common Stock
Subsequent Event [Line Items]
Issuance of shares \| shares		1,000,000

Summary of Significant Accounting Policies - Additional Information (Details)	3 Months Ended
	Mar. 31, 2015 USD ($)
Consumer CLEC Business
Summary Of Significant Accounting Policies [Line Items]
Provision for doubtful accounts	$ 83,000