Uniti (UNIT) 10-Q3 Aug 232023 Q2 Quarterly reportFinancial data

Company Profile

Cover

Cover - shares	6 Months Ended
Cover - shares	Jun. 30, 2023	Jul. 27, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2023
Document Transition Report	false
Entity File Number	001-36708
Entity Registrant Name	Uniti Group Inc.
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	46-5230630
Entity Address, Address Line One	2101 Riverfront Drive, Suite A
Entity Address, City or Town	Little Rock
Entity Address, State or Province	AR
Entity Address, Postal Zip Code	72202
City Area Code	501
Local Phone Number	850-0820
Title of 12(b) Security	Common Stock
Trading Symbol	UNIT
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		238,688,604
Amendment Flag	false
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q2
Entity Central Index Key	0001620280
Current Fiscal Year End Date	--12-31

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Assets:
Property, plant and equipment, net	$ 3,895,206	$ 3,754,547
Cash and cash equivalents	38,145	43,803
Accounts receivable, net	43,021	42,631
Goodwill	361,378	361,378
Intangible assets, net	319,967	334,846
Straight-line revenue receivable	81,415	68,595
Operating lease right-of-use assets, net	124,060	88,545
Other assets	84,695	77,597
Investment in unconsolidated entities	38,006	38,656
Deferred income tax assets, net	48,677	40,631
Total Assets	5,034,570	4,851,229
Liabilities:
Accounts payable, accrued expenses and other liabilities	135,378	122,195
Settlement payable (Note 13)	207,863	251,098
Intangible liabilities, net	161,745	167,092
Accrued interest payable	156,558	121,316
Deferred revenue	1,213,633	1,190,041
Dividends payable	69	2
Operating lease liabilities	82,151	66,356
Finance lease obligations	15,881	15,520
Notes and other debt, net	5,392,536	5,188,815
Total liabilities	7,365,814	7,122,435
Commitments and contingencies (Note 13)
Shareholders' Deficit:
Preferred stock, $0.0001 par value, 50,000 shares authorized; no shares issued and outstanding	0	0
Common stock, $0.0001 par value, 500,000 shares authorized; issued and outstanding: 236,431 shares at June 30, 2023 and 235,829 at December 31, 2022	24	24
Additional paid-in capital	1,215,260	1,210,033
Distributions in excess of accumulated earnings	(3,548,870)	(3,483,634)
Total Uniti shareholders' deficit	(2,333,586)	(2,273,577)
Noncontrolling interests:
Operating partnership units	2,092	2,121
Cumulative non-voting convertible preferred stock, $0.01 par value, 6 shares authorized, 3 issued and outstanding	250	250
Total shareholders' deficit	(2,331,244)	(2,271,206)
Total Liabilities and Shareholders' Deficit	$ 5,034,570	$ 4,851,229

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Preferred stock, shares authorized (in shares)	50,000,000	50,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	500,000,000	500,000,000
Common stock, shares issued (in shares)	236,431,000	235,829,000
Common stock, shares outstanding (in shares)	236,431,000	235,829,000
Cumulative non-voting convertible preferred stock par value (in dollars per share)	$ 0.01	$ 0.01
Cumulative non-voting convertible preferred shares authorized (in shares)	6,000	6,000
Cumulative non-voting convertible preferred shares issued (in shares)	3,000	3,000
Cumulative non-voting convertible preferred shares outstanding (in shares)	3,000	3,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Revenues:
Total revenues	$ 283,698	$ 283,975	$ 573,520	$ 562,009
Costs and Expenses:
Interest expense, net	119,689	96,377	268,552	192,549
Depreciation and amortization	77,267	72,303	154,042	143,760
General and administrative expense	23,417	25,085	51,850	48,955
Operating expense (exclusive of depreciation and amortization)	37,418	36,917	72,486	71,893
Transaction related and other costs	5,576	3,235	8,364	4,949
Gain on sale of real estate	0	(250)	0	(250)
Other expense (income), net	(291)	(7,930)	19,888	(8,328)
Total costs and expenses	263,076	225,737	575,182	453,528
Income (loss) before income taxes and equity in earnings from unconsolidated entities	20,622	58,238	(1,662)	108,481
Income tax (benefit) expense	(4,357)	4,944	(6,769)	2,873
Equity in earnings of unconsolidated entities	(659)	(480)	(1,320)	(1,024)
Net income	25,638	53,774	6,427	106,632
Net income attributable to noncontrolling interests	12	77	3	205
Net income attributable to shareholders	25,626	53,697	6,424	106,427
Participating securities' share in earnings	(322)	(340)	(569)	(671)
Dividends declared on convertible preferred stock	(5)	(5)	(10)	(10)
Net income attributable to common shareholders	$ 25,299	$ 53,352	$ 5,845	$ 105,746
Income per common share:
Basic (in dollars per share)	$ 0.11	$ 0.23	$ 0.02	$ 0.45
Diluted (in dollars per share)	$ 0.11	$ 0.21	$ 0.02	$ 0.42
Weighted-average number of common shares outstanding:
Basic (in shares)	236,429	235,656	236,260	235,352
Diluted (in shares)	236,429	267,361	236,260	267,045
Uniti Leasing
Revenues:
Total revenues	$ 212,453	$ 205,614	$ 423,261	$ 410,255
Uniti Fiber
Revenues:
Total revenues	$ 71,245	$ 78,361	$ 150,259	$ 151,754

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Statement of Comprehensive Income [Abstract]
Net income	$ 25,638	$ 53,774	$ 6,427	$ 106,632
Other comprehensive income:
Interest rate swap termination	0	2,829	0	5,659
Other comprehensive income	0	2,829	0	5,659
Comprehensive income	25,638	56,603	6,427	112,291
Comprehensive income attributable to noncontrolling interest	12	81	3	216
Comprehensive income attributable to shareholders	$ 25,626	$ 56,522	$ 6,424	$ 112,075

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Shareholders' Deficit - USD ($) $ in Thousands	Total	Preferred Stock	Common Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Loss	Distributions in Excess of Accumulated Earnings	Noncontrolling Interest - OP Units	Noncontrolling Interest - Non- voting Preferred Shares
Beginning balance (in shares) at Dec. 31, 2021		0
Beginning balance (in shares) at Dec. 31, 2021			234,779,247,000
Beginning balance at Dec. 31, 2021	$ (2,113,774)	$ 0	$ 23	$ 1,214,830	$ (9,164)	$ (3,333,481)	$ 13,893	$ 125
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	106,632					106,427	205
Other comprehensive income	5,659				5,648		11
Common stock dividends declared	(71,276)					(71,276)
Distributions to noncontrolling interest declared	(160)						(160)
Cumulative non-voting convertible preferred stock	0					(125)		125
Exchange of noncontrolling interest (in shares)			244,682,000
Exchange of noncontrolling interest	(4,620)			7,257			(11,877)
Payments related to tax withholding for stock-based compensation	(4,436)			(4,436)
Stock-based compensation (in shares)			646,260,000
Stock-based compensation	6,513		$ 1	6,512
Issuance of common stock - employee stock purchase plan (in shares)			29,324,000
Issuance of common stock - employee stock purchase plan	264			264
Ending balance (in shares) at Jun. 30, 2022		0
Ending balance (in shares) at Jun. 30, 2022			235,699,513,000
Ending balance at Jun. 30, 2022	(2,075,198)	$ 0	$ 24	1,224,427	(3,516)	(3,298,455)	2,072	250
Beginning balance (in shares) at Mar. 31, 2022		0
Beginning balance (in shares) at Mar. 31, 2022			235,297,990,000
Beginning balance at Mar. 31, 2022	(2,092,022)	$ 0	$ 23	1,220,039	(6,341)	(3,316,781)	10,788	250
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	53,774					53,697	77
Other comprehensive income	2,829				2,825		4
Common stock dividends declared	(35,371)					(35,371)
Distributions to noncontrolling interest declared	(78)						(78)
Exchange of noncontrolling interest (in shares)			86,949,000
Exchange of noncontrolling interest	(4,620)			4,099			(8,719)
Payments related to tax withholding for stock-based compensation	(2,911)			(2,911)
Stock-based compensation (in shares)			314,574,000
Stock-based compensation	3,201		$ 1	3,200
Ending balance (in shares) at Jun. 30, 2022		0
Ending balance (in shares) at Jun. 30, 2022			235,699,513,000
Ending balance at Jun. 30, 2022	$ (2,075,198)	$ 0	$ 24	1,224,427	(3,516)	(3,298,455)	2,072	250
Beginning balance (in shares) at Dec. 31, 2022	0	0
Beginning balance (in shares) at Dec. 31, 2022	235,829,000		235,829,485,000
Beginning balance at Dec. 31, 2022	$ (2,271,206)	$ 0	$ 24	1,210,033	0	(3,483,634)	2,121	250
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	6,427					6,424	3
Other comprehensive income	0
Common stock dividends declared	(71,660)					(71,660)
Distributions to noncontrolling interest declared	(32)						(32)
Payment for settlement of common stock warrant	(56)			(56)
Termination of bond hedge option	59			59
Payments related to tax withholding for stock-based compensation	(1,350)			(1,350)
Stock-based compensation (in shares)			534,363,000
Stock-based compensation	6,260			6,260
Issuance of common stock - employee stock purchase plan (in shares)			66,904,000
Issuance of common stock - employee stock purchase plan	$ 314			314
Ending balance (in shares) at Jun. 30, 2023	0	0
Ending balance (in shares) at Jun. 30, 2023	236,431,000		236,430,752,000
Ending balance at Jun. 30, 2023	$ (2,331,244)	$ 0	$ 24	1,215,260	0	(3,548,870)	2,092	250
Beginning balance (in shares) at Mar. 31, 2023		0
Beginning balance (in shares) at Mar. 31, 2023			236,427,250,000
Beginning balance at Mar. 31, 2023	(2,324,175)	$ 0	$ 24	1,212,137	0	(3,538,683)	2,097	250
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	25,638					25,626	12
Other comprehensive income	0
Common stock dividends declared	(35,813)					(35,813)
Distributions to noncontrolling interest declared	(17)						(17)
Payments related to tax withholding for stock-based compensation	(7)			(7)
Stock-based compensation (in shares)			3,502,000
Stock-based compensation	3,130			3,130
Issuance of common stock - employee stock purchase plan	$ 0
Ending balance (in shares) at Jun. 30, 2023	0	0
Ending balance (in shares) at Jun. 30, 2023	236,431,000		236,430,752,000
Ending balance at Jun. 30, 2023	$ (2,331,244)	$ 0	$ 24	$ 1,215,260	$ 0	$ (3,548,870)	$ 2,092	$ 250

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Shareholders' Deficit (Parenthetical) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Mar. 31, 2022	Jun. 30, 2023	Jun. 30, 2022
Statement of Stockholders' Equity [Abstract]
Common stock dividends declared per share (in dollars per share)	$ 0.15	$ 0.15	$ 0.15	$ 0.15

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Cash flow from operating activities
Net income	$ 6,427	$ 106,632
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	154,042	143,760
Amortization of deferred financing costs and debt discount	9,454	9,015
Loss on extinguishment of debt, net	31,187	0
Interest rate swap termination	0	5,659
Deferred income taxes	(8,046)	(7,185)
Equity in earnings of unconsolidated entities	(1,320)	(1,024)
Distributions of cumulative earnings from unconsolidated entities	1,969	1,969
Cash paid for interest rate swap settlement	0	(6,346)
Straight-line revenues and amortization of below-market lease intangibles	(19,216)	(21,148)
Stock-based compensation	6,260	6,513
Gain on sale of unconsolidated entity (see Note 5)	0	(7,923)
Gain on sale of real estate	0	(250)
(Gain) loss on asset disposals	(172)	586
Accretion of settlement obligation	5,776	5,787
Other	0	(630)
Changes in assets and liabilities:
Accounts receivable	(391)	(7,224)
Other assets	967	559
Accounts payable, accrued expenses and other liabilities	12,894	5,858
Net cash provided by operating activities	199,831	234,608
Cash flow from investing activities
Capital expenditures	(247,269)	(184,039)
Proceeds from sale of unconsolidated entity (see Note 5)	0	32,527
Proceeds from sale of real estate, net cash	0	325
Proceeds from sale of other equipment	1,169	431
Net cash used in investing activities	(246,100)	(150,756)
Cash flow from financing activities
Repayment of debt	(2,263,662)	0
Proceeds from issuance of notes	2,600,000	0
Dividends paid	(71,594)	(71,771)
Payments of settlement payable	(49,011)	0
Distributions paid to noncontrolling interest	(32)	(186)
Payment for exchange of noncontrolling interest	0	(4,620)
Borrowings under revolving credit facility	245,000	105,000
Payments under revolving credit facility	(347,000)	(105,000)
Finance lease payments	(799)	(601)
Payments for financing costs	(26,955)	0
Payment for settlement of common stock warrant	(56)	0
Termination of bond hedge option	59	0
Costs related to the early repayment of debt	(44,303)	0
Employee stock purchase program	314	264
Payments related to tax withholding for stock-based compensation	(1,350)	(4,436)
Net cash provided by (used in) financing activities	40,611	(81,350)
Net (decrease) increase in cash and cash equivalents	(5,658)	2,502
Cash and cash equivalents at beginning of period	43,803	58,903
Cash and cash equivalents at end of period	38,145	61,405
Non-cash investing and financing activities:
Property and equipment acquired but not yet paid	14,708	10,739
Tenant capital improvements	$ 78,473	$ 85,389

Organization and Description of

Organization and Description of Business	6 Months Ended
Organization and Description of Business	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Description of Business	Organization and Description of Business Uniti Group Inc. (the “Company,” “Uniti,” “we,” “us,” or “our”) was incorporated in the state of Maryland on September 4, 2014. We are an independent internally managed real estate investment trust (“REIT”) engaged in the acquisition, construction and leasing of mission critical infrastructure in the communications industry. We are principally focused on acquiring and constructing fiber optic, copper and coaxial broadband networks and data centers. We manage our operations focused on our two primary lines of business: Uniti Fiber and Uniti Leasing. The Company operates through a customary “up-REIT” structure, pursuant to which we hold substantially all of our assets through a partnership, Uniti Group LP, a Delaware limited partnership (the “Operating Partnership”) that we control as general partner. The up-REIT structure is intended to facilitate future acquisition opportunities by providing the Company with the ability to use common units of the Operating Partnership as a tax-efficient acquisition currency. As of June 30, 2023, we are the sole general partner of the Operating Partnership and own approximately 99.96% of the partnership interests in the Operating Partnership.

Basis of Presentation and Summa

Basis of Presentation and Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2023
Accounting Policies [Abstract]
Basis of Presentation and Summary of Significant Accounting Policies	Basis of Presentation and Summary of Significant Accounting Policies The accompanying Condensed Consolidated Financial Statements include all accounts of the Company and its wholly-owned and/or controlled subsidiaries, including the Operating Partnership. Under the Accounting Standards Codification 810, Consolidation (“ASC 810”), the Operating Partnership is considered a variable interest entity and is consolidated in the Condensed Consolidated Financial Statements of Uniti Group Inc. because the Company is the primary beneficiary. All material intercompany balances and transactions have been eliminated. ASC 810 provides guidance on the identification of entities for which control is achieved through means other than voting rights (“variable interest entities” or “VIEs”) and the determination of which business enterprise, if any, should consolidate the VIEs. Generally, the consideration of whether an entity is a VIE applies when either: (1) the equity investors (if any) lack (i) the ability to make decisions about the entity’s activities through voting or similar rights, (ii) the obligation to absorb the expected losses of the entity, or (iii) the right to receive the expected residual returns of the entity; (2) the equity investment at risk is insufficient to finance that entity’s activities without additional subordinated financial support; or (3) the equity investors have voting rights that are not proportionate to their economic interests and substantially all of the activities of the entity involve or are conducted on behalf of an investor with a disproportionately small voting interest. The Company consolidates VIEs in which it is considered to be the primary beneficiary. The primary beneficiary is defined as the entity having both of the following characteristics: (1) the power to direct the activities that, when taken together, most significantly impact the VIE’s performance; and (2) the obligation to absorb losses and right to receive the returns from the VIE that would be significant to the VIE. The accompanying 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 (the “FASB”), and with the applicable rules and regulations of the Securities and Exchange Commission (the “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 Condensed 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 filed with the SEC on February 28, 2023 , as amended by Amendment No. 1 thereto filed on Form 10-K/A with the SEC on March 29, 2023 (the “Annual Report”). Accordingly, significant accounting policies and other disclosures normally provided have been omitted from the accompanying Condensed Consolidated Financial Statements and related notes since such items are disclosed in our Annual Report. Concentration of Credit Risks —Prior to September 2020, we were party to a long-term exclusive triple-net lease (the “Master Lease”) with Windstream Holdings, Inc. (together with Windstream Holdings II, LLC, its successor in interest, and its subsidiaries, “Windstream”) pursuant to which a substantial portion of our real property was leased to Windstream and from which a substantial portion of our leasing revenues were derived. On September 18, 2020, Uniti and Windstream bifurcated the Master Lease and entered into two structurally similar master leases (collectively, the “Windstream Leases”), which amended and restated the Master Lease in its entirety. The Windstream Leases consist of (a) a master lease (the "ILEC MLA") that governs Uniti owned assets used for Windstream's incumbent local exchange carrier ("ILEC") operations and (b) a master lease (the "CLEC MLA") that governs Uniti owned assets used for Windstream's consumer competitive local exchange carrier ("CLEC") operations. Revenue under the Windstream Leases provided 66.9% and 66.3% of our revenue for the six months ended June 30, 2023 and 2022, respectively. Because a substantial portion of our revenue and cash flows are derived from lease payments by Windstream pursuant to the Windstream Leases, there could be a material adverse impact on our consolidated results of operations, liquidity, financial condition and/or ability to pay dividends and service debt if Windstream were to default under the Windstream Leases or otherwise experiences operating or liquidity difficulties and becomes unable to generate sufficient cash to make payments to us. We monitor the credit quality of Windstream through numerous methods, including by (i) reviewing credit ratings of Windstream by nationally recognized credit agencies, (ii) reviewing the financial statements of Windstream that are required to be delivered to us pursuant to the Windstream Leases, (iii) monitoring news reports regarding Windstream and its business, (iv) conducting research to ascertain industry trends potentially affecting Windstream, (v) monitoring Windstream’s compliance with the terms of the Windstream Leases and (vi) monitoring the timeliness of its payments under the Windstream Leases. As of the date of this Quarterly Report on Form 10-Q, Windstream is current on all lease payments. We note that in August 2020, Moody’s Investor Service assigned a B3 corporate family rating with a stable outlook to Windstream in connection with its post-emergence exit financing. At the same time, S&P Global Ratings assigned Windstream a B- issuer rating with a stable outlook. Both ratings remain current as of the date of this filing. In order to assist us in our continuing assessment of Windstream’s creditworthiness, we periodically receive certain confidential financial information and metrics from Windstream. Recently Adopted Accounting Pronouncements In March 2022, the FASB issued Accounting Standards Update ("ASU") 2022-02, Financial Instruments—Credit Losses (Topic 326) : Troubled Debt Restructurings and Vintage Disclosures ("ASU 2022-02"), which eliminates the accounting guidance for troubled debt restructurings and requires the disclosure of current-period gross write-offs of financing receivables and net investment in leases by year of origination. The Company adopted ASU 2022-02 on January 1, 2023, and the adoption had no impact on the Company's consolidated financial statements. In December 2022, the FASB issued ASU 2022-06, Reference Rate Reform (Topic 848) : Deferral of the Sunset Date of Topic 848 ("ASU 2022-06"), which provides additional relief for contract modifications completed after the December 31, 2022 LIBOR sunset date. The amendment allows for a deferral until December 31, 2024. The Company adopted ASU 2022-06 at issuance, and the adoption had no impact on the Company's consolidated financial statements.

Revenues

Revenues	6 Months Ended
Revenues	Jun. 30, 2023
Revenue from Contract with Customer [Abstract]
Revenues	Revenues Disaggregation of Revenues The following table presents our revenues disaggregated by revenue stream. Three Months Ended Six Months Ended (Thousands) 2023 2022 2023 2022 Revenue disaggregated by revenue stream Revenue from contracts with customers Uniti Fiber Lit backhaul $ 19,453 $ 19,937 $ 38,975 $ 39,375 Enterprise and wholesale 23,410 21,001 45,986 41,936 E-Rate and government 14,145 18,505 28,036 32,782 Other 730 712 1,478 1,373 Uniti Fiber $ 57,738 $ 60,155 $ 114,475 $ 115,466 Uniti Leasing 2,108 1,194 3,274 2,352 Total revenue from contracts with customers 59,846 61,349 117,749 117,818 Revenue accounted for under leasing guidance Uniti Leasing 210,345 204,420 419,987 407,903 Uniti Fiber 13,507 18,206 35,784 36,288 Total revenue accounted for under leasing guidance 223,852 222,626 455,771 444,191 Total revenue $ 283,698 $ 283,975 $ 573,520 $ 562,009 At June 30, 2023 and December 31, 2022, lease receivables were $22.9 million and $26.2 million, respectively, and receivables from contracts with customers were $16.0 million and $16.1 million, respectively. Contract Assets (Unbilled Revenue) and Liabilities (Deferred Revenue) Contract assets primarily consist of unbilled construction revenue where we are utilizing our costs incurred as the measure of progress of satisfying our performance obligation. Contract assets are reported within accounts receivable, net on our Condensed Consolidated Balance Sheets. When the contract price is invoiced, the related unbilled receivable is reclassified to trade accounts receivable, where the balance will be settled upon the collection of the invoiced amount. Contract liabilities are generally comprised of upfront fees charged to the customer for the cost of establishing the necessary components of the Company’s network prior to the commencement of use by the customer. Fees charged to customers for the recurring use of the Company’s network are recognized during the related periods of service. Upfront fees that are billed in advance of providing services are deferred until such time the customer accepts the Company’s network and then are recognized as service revenues ratably over a period in which substantive services required under the revenue arrangement are expected to be performed, which is the initial term of the arrangement. During the three and six months ended June 30, 2023, we recognized revenues of $2.0 million and $2.6 million which was included in the December 31, 2022 contract liabilities balance. The following table provides information about contract assets and contract liabilities accounted for under ASC 606. (Thousands) Contract Assets Contract Liabilities Balance at December 31, 2022 $ 173 $ 8,699 Balance at June 30, 2023 $ 9 $ 11,634 Transaction Price Allocated to Remaining Performance Obligations Performance obligations within contracts to stand ready to provide services are typically satisfied over time or as those services are provided. Contract liabilities primarily relate to deferred revenue from upfront customer payments. The deferred revenue is recognized, and the liability reduced, over the contract term as the Company completes the performance obligation. As of June 30, 2023, our future revenues (i.e., transaction price related to remaining performance obligations) under contract accounted for under ASC 606 totaled $534.5 million, of which $466.1 million is related to contracts that are currently being invoiced and have an average remaining contract term of 2.3 years, while $68.4 million represents our backlog for sales bookings which have yet to be installed and have an average contract term of 5.2 years. We do not disclose the value of unsatisfied performance obligations for contracts that have an original expected duration of one year or less.

Leases

Leases	6 Months Ended
Leases	Jun. 30, 2023
Leases [Abstract]
Leases	Leases Lessor Accounting We lease communications towers, ground space, colocation space and dark fiber to tenants under operating leases. Our leases have initial lease terms ranging from less than one year to 35 years, most of which include options to extend or renew the leases for less than one year to 20 years (based on the satisfaction of certain conditions as defined in the lease agreements), and some of which may include options to terminate the leases within one . Certain lease agreements contain provisions for future rent increases. Payments due under the lease contracts include fixed payments plus, for some of our leases, variable payments. The components of lease income for the three and six months ended June 30, 2023 and 2022, respectively, are as follows: Three Months Ended June 30, Six Months Ended June 30, (Thousands) 2023 2022 2023 2022 Lease income - operating leases $ 223,852 $ 222,626 $ 455,771 $ 444,191 Lease payments to be received under non-cancellable operating leases where we are the lessor for the remainder of the lease terms as of June 30, 2023 are as follows: (Thousands) June 30, 2023⁽¹⁾ 2023 $ 391,429 2024 802,346 2025 807,463 2026 809,009 2027 809,987 Thereafter 2,340,773 Total lease receivables $ 5,961,007 (1) Total future minimum lease payments to be received include $5.0 billion relating to the Windstream Leases. The underlying assets under operating leases where we are the lessor are summarized as follows: (Thousands) June 30, 2023 December 31, 2022 Land $ 26,549 $ 26,549 Building and improvements 346,780 346,093 Poles 304,428 296,941 Fiber 3,724,401 3,529,835 Equipment 437 437 Copper 3,970,781 3,964,439 Conduit 89,963 89,963 Tower assets 1,397 1,397 Finance lease assets 10,434 28,126 Other assets 2,615 10,434 8,477,785 8,294,214 Less: accumulated depreciation (5,616,771) (5,542,726) Underlying assets under operating leases, net $ 2,861,014 $ 2,751,488 Depreciation expense for the underlying assets under operating leases where we are the lessor for the three and six months ended June 30, 2023 and 2022, respectively, is summarized as follows: Three Months Ended June 30, Six Months Ended June 30, (Thousands) 2023 2022 2023 2022 Depreciation expense for underlying assets under operating leases $ 45,639 $ 43,544 $ 90,845 $ 86,731 Lessee Accounting We have commitments under operating leases for communications towers, ground space, colocation space, dark fiber and buildings. We also have finance leases for dark fiber and automobiles. Our leases have initial lease terms ranging from less than one year to 30 years, most of which include options to extend or renew the leases for less than one year to 20 years , and some of which may include options to terminate the leases within one . Certain lease agreements contain provisions for future rent increases. Payments due under the lease contracts include fixed payments plus, for some of our leases, variable payments. As of June 30, 2023, we have short term lease commitments amounting to approximately $3.25 million. Future lease payments under non-cancellable leases as of June 30, 2023 are as follows: (Thousands) Operating Leases Finance Leases 2023 $ 8,644 $ 1,416 2024 17,364 2,642 2025 14,542 2,588 2026 11,250 2,589 2027 8,619 2,471 Thereafter 100,324 12,639 Total undiscounted lease payments $ 160,743 $ 24,345 Less: imputed interest (78,592) (8,464) Total lease liabilities $ 82,151 $ 15,881
Leases	Leases Lessor Accounting We lease communications towers, ground space, colocation space and dark fiber to tenants under operating leases. Our leases have initial lease terms ranging from less than one year to 35 years, most of which include options to extend or renew the leases for less than one year to 20 years (based on the satisfaction of certain conditions as defined in the lease agreements), and some of which may include options to terminate the leases within one . Certain lease agreements contain provisions for future rent increases. Payments due under the lease contracts include fixed payments plus, for some of our leases, variable payments. The components of lease income for the three and six months ended June 30, 2023 and 2022, respectively, are as follows: Three Months Ended June 30, Six Months Ended June 30, (Thousands) 2023 2022 2023 2022 Lease income - operating leases $ 223,852 $ 222,626 $ 455,771 $ 444,191 Lease payments to be received under non-cancellable operating leases where we are the lessor for the remainder of the lease terms as of June 30, 2023 are as follows: (Thousands) June 30, 2023⁽¹⁾ 2023 $ 391,429 2024 802,346 2025 807,463 2026 809,009 2027 809,987 Thereafter 2,340,773 Total lease receivables $ 5,961,007 (1) Total future minimum lease payments to be received include $5.0 billion relating to the Windstream Leases. The underlying assets under operating leases where we are the lessor are summarized as follows: (Thousands) June 30, 2023 December 31, 2022 Land $ 26,549 $ 26,549 Building and improvements 346,780 346,093 Poles 304,428 296,941 Fiber 3,724,401 3,529,835 Equipment 437 437 Copper 3,970,781 3,964,439 Conduit 89,963 89,963 Tower assets 1,397 1,397 Finance lease assets 10,434 28,126 Other assets 2,615 10,434 8,477,785 8,294,214 Less: accumulated depreciation (5,616,771) (5,542,726) Underlying assets under operating leases, net $ 2,861,014 $ 2,751,488 Depreciation expense for the underlying assets under operating leases where we are the lessor for the three and six months ended June 30, 2023 and 2022, respectively, is summarized as follows: Three Months Ended June 30, Six Months Ended June 30, (Thousands) 2023 2022 2023 2022 Depreciation expense for underlying assets under operating leases $ 45,639 $ 43,544 $ 90,845 $ 86,731 Lessee Accounting We have commitments under operating leases for communications towers, ground space, colocation space, dark fiber and buildings. We also have finance leases for dark fiber and automobiles. Our leases have initial lease terms ranging from less than one year to 30 years, most of which include options to extend or renew the leases for less than one year to 20 years , and some of which may include options to terminate the leases within one . Certain lease agreements contain provisions for future rent increases. Payments due under the lease contracts include fixed payments plus, for some of our leases, variable payments. As of June 30, 2023, we have short term lease commitments amounting to approximately $3.25 million. Future lease payments under non-cancellable leases as of June 30, 2023 are as follows: (Thousands) Operating Leases Finance Leases 2023 $ 8,644 $ 1,416 2024 17,364 2,642 2025 14,542 2,588 2026 11,250 2,589 2027 8,619 2,471 Thereafter 100,324 12,639 Total undiscounted lease payments $ 160,743 $ 24,345 Less: imputed interest (78,592) (8,464) Total lease liabilities $ 82,151 $ 15,881
Leases	Leases Lessor Accounting We lease communications towers, ground space, colocation space and dark fiber to tenants under operating leases. Our leases have initial lease terms ranging from less than one year to 35 years, most of which include options to extend or renew the leases for less than one year to 20 years (based on the satisfaction of certain conditions as defined in the lease agreements), and some of which may include options to terminate the leases within one . Certain lease agreements contain provisions for future rent increases. Payments due under the lease contracts include fixed payments plus, for some of our leases, variable payments. The components of lease income for the three and six months ended June 30, 2023 and 2022, respectively, are as follows: Three Months Ended June 30, Six Months Ended June 30, (Thousands) 2023 2022 2023 2022 Lease income - operating leases $ 223,852 $ 222,626 $ 455,771 $ 444,191 Lease payments to be received under non-cancellable operating leases where we are the lessor for the remainder of the lease terms as of June 30, 2023 are as follows: (Thousands) June 30, 2023⁽¹⁾ 2023 $ 391,429 2024 802,346 2025 807,463 2026 809,009 2027 809,987 Thereafter 2,340,773 Total lease receivables $ 5,961,007 (1) Total future minimum lease payments to be received include $5.0 billion relating to the Windstream Leases. The underlying assets under operating leases where we are the lessor are summarized as follows: (Thousands) June 30, 2023 December 31, 2022 Land $ 26,549 $ 26,549 Building and improvements 346,780 346,093 Poles 304,428 296,941 Fiber 3,724,401 3,529,835 Equipment 437 437 Copper 3,970,781 3,964,439 Conduit 89,963 89,963 Tower assets 1,397 1,397 Finance lease assets 10,434 28,126 Other assets 2,615 10,434 8,477,785 8,294,214 Less: accumulated depreciation (5,616,771) (5,542,726) Underlying assets under operating leases, net $ 2,861,014 $ 2,751,488 Depreciation expense for the underlying assets under operating leases where we are the lessor for the three and six months ended June 30, 2023 and 2022, respectively, is summarized as follows: Three Months Ended June 30, Six Months Ended June 30, (Thousands) 2023 2022 2023 2022 Depreciation expense for underlying assets under operating leases $ 45,639 $ 43,544 $ 90,845 $ 86,731 Lessee Accounting We have commitments under operating leases for communications towers, ground space, colocation space, dark fiber and buildings. We also have finance leases for dark fiber and automobiles. Our leases have initial lease terms ranging from less than one year to 30 years, most of which include options to extend or renew the leases for less than one year to 20 years , and some of which may include options to terminate the leases within one . Certain lease agreements contain provisions for future rent increases. Payments due under the lease contracts include fixed payments plus, for some of our leases, variable payments. As of June 30, 2023, we have short term lease commitments amounting to approximately $3.25 million. Future lease payments under non-cancellable leases as of June 30, 2023 are as follows: (Thousands) Operating Leases Finance Leases 2023 $ 8,644 $ 1,416 2024 17,364 2,642 2025 14,542 2,588 2026 11,250 2,589 2027 8,619 2,471 Thereafter 100,324 12,639 Total undiscounted lease payments $ 160,743 $ 24,345 Less: imputed interest (78,592) (8,464) Total lease liabilities $ 82,151 $ 15,881

Investments in Unconsolidated E

Investments in Unconsolidated Entities	6 Months Ended
Investments in Unconsolidated Entities	Jun. 30, 2023
Equity Method Investments and Joint Ventures [Abstract]
Investments in Unconsolidated Entities	Investments in Unconsolidated Entities Fiber Holdings BB Fiber Holdings LLC ( “Fiber Holdings” ) was primarily established to develop fiber networks as real estate property for long-term investment. On July 1, 2020, the Company completed the sale of an ownership stake in the entity that controls the Company’s Midwest fiber network assets (the “Propco”). Fiber Holdings has a 47.5% ownership in the Propco that is under a long-term, triple net lease with our joint venture partner. Our ownership interest in Fiber Holdings represents approximately a 20% economic interest in the Propco. The Company’s current investment and maximum exposure to loss as a result of its involvement with Fiber Holdings, an equity method unconsolidated entity, was approximately $38.0 million as of June 30, 2023. The Company has not provided financial support to Fiber Holdings. Harmoni On June 21, 2022, the Company completed the sale of its investment in Harmoni Towers LP to Palistar Communications Infrastructure GP LLC, our partner in the investment, for total cash consideration of $32.5 million. As a result of the transaction, during the second quarter of 2022 we recorded a pre-tax gain of $7.9 million within other expense (income), net and $6.7 million of income tax expense within our Consolidated Statements of Income.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	6 Months Ended
Fair Value of Financial Instruments	Jun. 30, 2023
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	Fair Value of Financial Instruments FASB ASC 820, Fair Value Measurements , establishes a hierarchy of valuation techniques based on the observability of inputs utilized in measuring assets and liabilities at fair values. This hierarchy establishes market-based or observable inputs as the preferred source of values, followed by valuation models using management assumptions in the absence of market inputs. The three levels of the hierarchy are as follows: Level 1 – Quoted prices (unadjusted) in active markets for identical assets or liabilities that the reporting entity can access at the assessment date; Level 2 – Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly; and Level 3 – Unobservable inputs for the asset or liability. Our financial instruments consist of cash and cash equivalents, accounts and other receivables, our outstanding notes and other debt, settlement payable, interest and dividends payable. The following table summarizes the fair value of our financial instruments at June 30, 2023 and December 31, 2022: (Thousands) Total Quoted Prices in Active Markets (Level 1) Prices with Other Observable Inputs (Level 2) Prices with Unobservable At June 30, 2023 Liabilities Senior secured notes - 10.50%, due February 15, 2028 $ 2,592,304 $ — $ 2,592,304 $ — Senior secured notes - 4.75%, due April 15, 2028 473,089 — 473,089 — Exchangeable senior notes - 4.00%, due June 15, 2024 119,449 — 119,449 — Convertible senior notes - 7.50% due December 1, 2027 263,366 — 263,366 — Senior unsecured notes - 6.50%, due February 15, 2029 774,370 — 774,370 — Senior unsecured notes - 6.00%, due January 15, 2030 472,948 — 472,948 — Senior secured revolving credit facility, variable rate, due December 10, 2024 85,991 — 85,991 — Settlement payable 195,050 — 195,050 — Total $ 4,976,567 $ — $ 4,976,567 $ — (Thousands) Total Quoted Prices in Active Markets (Level 1) Prices with Other Observable Inputs (Level 2) Prices with Unobservable At December 31, 2022 Liabilities Senior secured notes - 7.875%, due February 15, 2025 $ 2,208,319 $ — $ 2,208,319 $ — Senior secured notes - 4.75%, due April 15, 2028 469,740 — 469,740 — Exchangeable senior notes - 4.00%, due June 15, 2024 127,024 — 127,024 — Senior unsecured notes - 6.50% , due February 15, 2029 759,917 — 759,917 — Senior unsecured notes - 6.00%, due January 15, 2030 467,401 — 467,401 — Convertible senior notes - 7.50%, due December 1, 2027 297,765 — 297,765 — Senior secured revolving credit facility, variable rate, due December 10, 2024 187,981 — 187,981 — Settlement payable 232,350 — 232,350 — Total $ 4,750,497 $ — $ 4,750,497 $ — The carrying value of cash and cash equivalents, accounts and other receivables, and accounts, interest and dividends payable approximate fair values due to the short-term nature of these financial instruments. The total principal balance of our outstanding notes and other debt was $5.50 billion at June 30, 2023, with a fair value of $4.78 billion. The estimated fair value of our outstanding 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. Uniti is required to make $490.1 million of cash payments to Windstream in equal installments over 20 consecutive quarters beginning October 2020 (the “Settlement Payable”). See Note 13 . The Settlement Payable was initially recorded at fair value, using the present value of future cash flows. The future cash flows are discounted using discount rate inputs based on observable market data. Accordingly, we classify inputs used as Level 2 in the fair value hierarchy. As of June 30, 2023, the remaining Settlement Payable is $207.9 million and is reported on our Condensed Consolidated Balance Sheets. There have been no changes in the valuation methodologies used since the initial recording.

Property, Plant and Equipment

Property, Plant and Equipment	6 Months Ended
Property, Plant and Equipment	Jun. 30, 2023
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	Property, Plant and Equipment The carrying value of property, plant and equipment is as follows: (Thousands) Depreciable Lives June 30, 2023 December 31, 2022 Land Indefinite $ 29,803 $ 28,845 Building and improvements 3 - 40 years 364,062 363,077 Poles 30 years 304,428 296,941 Fiber 30 years 4,658,173 4,434,506 Equipment 5 - 7 years 439,800 399,473 Copper 20 years 3,970,781 3,964,439 Conduit 30 years 89,963 89,963 Tower assets 20 years 4,415 5,619 Finance lease assets (1) 49,174 73,487 Other assets 15 - 20 years 10,437 10,436 Corporate assets 3 - 7 years 15,412 14,883 Construction in progress (1) 56,372 46,508 9,992,820 9,728,177 Less accumulated depreciation (6,097,614) (5,973,630) Net property, plant and equipment $ 3,895,206 $ 3,754,547 (1) See our Annual Report for property, plant and equipment accounting policies.

Derivative Instruments and Hedg

Derivative Instruments and Hedging Activities	6 Months Ended
Derivative Instruments and Hedging Activities	Jun. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments and Hedging Activities	Derivative Instruments and Hedging Activities Exchangeable Notes Hedge Transactions On June 25, 2019, concurrently with the pricing of the 4.00% Exchangeable Notes due June 15, 2024 (the "Exchangeable Notes"), and on June 27, 2019, concurrently with the exercise by the initial purchasers involved in the offering of the Exchangeable Notes (the “Initial Purchasers”) of their option to purchase additional Exchangeable Notes, Uniti Fiber Holdings Inc., the issuer of the Exchangeable Notes, entered into exchangeable note hedge transactions with respect to the Company’s common stock ( the “Note Hedge Transactions”) with certain of the Initial Purchasers or their respective affiliates (collectively, the “Counterparties”) . The Note Hedge Transactions cover, subject to anti-dilution adjustments substantially similar to those applicable to the Exchangeable Notes, the same number of shares of the Company’s common stock that initially underlie the Exchangeable Notes in the aggregate and are exercisable upon exchange of the Exchangeable Notes. The Note Hedge Transactions have an initial strike price that corresponds to the initial exchange price of the Exchangeable Notes, subject to anti-dilution adjustments substantially similar to those applicable to the Exchangeable Notes. The Note Hedge Transactions will expire upon the maturity of the Exchangeable Notes, if not earlier exercised. The Note Hedge Transactions are intended to reduce potential dilution to the Company’s common stock upon any exchange of the Exchangeable Notes and/or offset any cash payments Uniti Fiber is required to make in excess of the principal amount of exchanged Exchangeable Notes, as the case may be, in the event that the market value per share of the Company’s common stock, as measured under the Note Hedge Transactions, at the time of exercise is greater than the strike price of the Note Hedge Transactions. The Note Hedge Transactions are separate transactions, entered into by Uniti Fiber Holdings Inc. with the Counterparties, and are not part of the terms of the Exchangeable Notes. Holders of the Exchangeable Notes will not have any rights with respect to the Note Hedge Transactions. The Note Hedge Transactions meet certain accounting criteria under GAAP, are recorded in additional paid-in capital on our Condensed Consolidated Balance Sheets and are not accounted for as derivatives that are remeasured each reporting period. Warrant Transactions On June 25, 2019, concurrently with the pricing of the Exchangeable Notes, and on June 27, 2019 concurrently with the exercise by the Initial Purchasers of their option to purchase additional Exchangeable Notes, the Company entered into warrant transactions to sell to the Counterparties warrants (the “Warrants”) to acquire, subject to anti-dilution adjustments, up to approximately 27.8 million shares of the Company’s common stock in the aggregate at an exercise price of approximately $16.42 per share. The initial maximum number of shares of the Company’s common stock that could be issued pursuant to the Warrants was approximately 55.5 million. The maximum number of shares of the Company's common stock that could be issued pursuant to the Warrants has subsequently decreased due to the partial unwind agreements that the Company entered into with the Counterparties in connection with each repurchase of Exchangeable Notes. The Company offered and sold the Warrants in reliance on the exemption from registration provided by Section 4(a)(2) of the Securities Act of 1933, as amended. If the market value per share of the Company’s common stock, as measured under the Warrants, at the time of exercise exceeds the strike price of the Warrants, the Warrants will have a dilutive effect on the Company’s common stock unless, subject to the terms of the Warrants, the Company elects to cash settle the Warrants. The Warrants will expire over a period beginning in September 2024.

Goodwill and Intangible Assets

Goodwill and Intangible Assets and Liabilities	6 Months Ended
Goodwill and Intangible Assets and Liabilities	Jun. 30, 2023
Goodwill And Intangible Assets And Liabilities Disclosure [Abstract]
Goodwill and Intangible Assets and Liabilities	Goodwill and Intangible Assets and Liabilities Changes in the carrying value of goodwill occurring during the six months ended June 30, 2023 are as follows: (Thousands) Uniti Fiber Total Goodwill at December 31, 2022 $ 672,878 $ 672,878 Accumulated impairment charges as of December 31, 2022 (311,500) (311,500) Balance at December 31, 2022 $ 361,378 $ 361,378 Goodwill at June 30, 2023 $ 672,878 $ 672,878 Accumulated impairment charges as of June 30, 2023 (311,500) (311,500) Balance at June 30, 2023 $ 361,378 $ 361,378 Changes in the carrying value of intangible assets and liabilities occurring during the six months ended June 30, 2023 are as follows: (Thousands) June 30, 2023 December 31, 2022 Original Cost Accumulated Amortization Original Cost Accumulated Finite life intangible assets: Customer lists $ 416,104 $ (140,149) $ 416,104 $ (128,728) Contracts 52,536 (18,059) 52,536 (14,776) Underlying Rights 10,497 (962) 10,497 (787) Total intangible assets $ 479,137 $ 479,137 Less: accumulated amortization (159,170) (144,291) Total intangible assets, net $ 319,967 $ 334,846 Finite life intangible liabilities: Below-market leases $ 191,154 (29,409) $ 191,154 (24,062) Finite life intangible liabilities: Below-market leases $ 191,154 $ 191,154 Less: accumulated amortization (29,409) (24,062) Total intangible liabilities, net $ 161,745 $ 167,092 As of June 30, 2023, the remaining weighted average amortization period of the Company’s intangible assets was 13.8 years. Amortization expense for the three and six months ended June 30, 2023 was $7.4 million and $14.8 million, respectively. Amortization expense for the three and six months ended June 30, 2022 was $7.4 million and $14.8 million, respectively. Amortization expense is estimated to be $29.8 million for the full year of 2023, $29.7 million in 2024, $29.7 million in 2025, $29.7 million in 2026, and $29.7 million for 2027.

Notes and Other Debt

Notes and Other Debt	6 Months Ended
Notes and Other Debt	Jun. 30, 2023
Long-Term Debt, Unclassified [Abstract]
Notes and Other Debt	Notes and Other Debt All debt, including the senior secured credit facility and notes described below, are obligations of the Operating Partnership and/or certain of its subsidiaries as discussed below. The Company is, however, a guarantor of such debt. Notes and other debt are as follows: (Thousands) June 30, 2023 December 31, 2022 Principal amount $ 5,495,442 $ 5,262,373 Less unamortized discount, premium and debt issuance costs (102,906) (73,558) Notes and other debt less unamortized discount, premium and debt issuance costs $ 5,392,536 $ 5,188,815 Notes and other debt at June 30, 2023 and December 31, 2022 consisted of the following: June 30, 2023 December 31, 2022 (Thousands) Principal Unamortized Discount, Premium and Debt Issuance Costs Principal Unamortized Discount, Premium and Debt Issuance Costs Senior secured notes - 7.875% due February 15, 2025 (discount is based on imputed interest rate of 8.38%) $ — $ — $ 2,250,000 $ (22,239) Senior secured notes - 10.50% due February 15, 2028 (discount is based on imputed interest rate of 11.06%) 2,600,000 (52,834) — — Senior secured notes - 4.75%, due April 15, 2028 (discount is based on imputed interest rate of 5.04%) 570,000 (7,015) 570,000 (7,654) Exchangeable senior notes - 4.00%, due June 15, 2024 (discount is based on imputed interest rate of 4.77%) 122,942 (883) 137,873 (1,501) Convertible senior notes - 7.50%, due December 1, 2027 (discount is based on imputed interest rate of 8.29%) 306,500 (8,947) 306,500 (9,768) Senior unsecured notes - 6.00% due January 15, 2030 (discount is based on imputed interest rate of 6.27%) 700,000 (9,931) 700,000 (10,535) Senior unsecured notes - 6.50%, due February 15, 2029 (discount is based on imputed interest rate of 6.83%) 1,110,000 (17,024) 1,110,000 (18,245) Senior secured revolving credit facility, variable rate, due December 10, 2024 86,000 (6,272) 188,000 (3,616) Total $ 5,495,442 $ (102,906) $ 5,262,373 $ (73,558) At June 30, 2023, notes and other debt included the following: (i) $86.0 million under the Revolving Credit Facility (as defined below) pursuant to that certain credit agreement, dated as of April 24, 2015, by and among the Operating Partnership, Uniti Group Finance 2019 Inc. and CSL Capital, LLC (hereinafter, the “Borrowers”), the guarantors party thereto, Bank of America, N.A., as administrative agent, collateral agent, swing line lender and an L/C issuer and certain other lenders named therein (the “Credit Agreement”); (ii) $2.6 billion aggregate principal amount of 10.50% Senior Secured Notes due February 15, 2028 (the “February 2028 Secured Notes”); (iii) $570.0 million aggregate principal amount of 4.75% Senior Secured Notes due April 15, 2028 (the “April 2028 Secured Notes”); (iv) $1.1 billion aggregate principal amount of 6.50% Senior Unsecured Notes due February 15, 2029 (the “2029 Notes”); (v) $122.9 million aggregate principal amount of the Exchangeable Notes; (vi) $700.0 million aggregate principal amount of 6.00% Senior Unsecured Notes due January 15, 2030 (the “2030 Notes”); and (vii) $306.5 million aggregate principal amount of 7.50% Convertible Senior Notes due December 1, 2027 (the "Convertible 2027 Notes" and, together with the February 2028 Secured Notes, April 2028 Secured Notes, 2029 Notes, 2030 Notes and the Exchangeable Notes, the "Notes"). T he terms of the Notes are as described in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022. Credit Agreement On March 24, 2023, the Borrowers, each a subsidiary of Uniti Group Inc., entered into Amendment No. 8 (the “Amendment”) to the Credit Agreement. Following the receipt of certain routine regulatory approvals on July 25, 2023, the Amendment extended the maturity of the $500 million revolving credit facility to September 24, 2027 (the “Revolving Credit Facility”). The Amendment also transitioned the Revolving Credit Facility from LIBOR to Term SOFR, and in connection with that change, set the credit spread adjustment to ten basis points for all interest periods. All obligations under the Credit Agreement are guaranteed by (i) the Company and (ii) certain of the Operating Partnership’s subsidiaries (the “Subsidiary Guarantors”) and are secured by substantially all of the assets of the Borrowers and the Subsidiary Guarantors. The Borrowers are subject to customary covenants under the Credit Agreement, including an obligation to maintain a consolidated secured leverage ratio, as defined in the Credit Agreement, not to exceed 5.00 to 1.00. We are permitted, subject to customary conditions, to incur other indebtedness, so long as, on a pro forma basis after giving effect to any such indebtedness, our consolidated total leverage ratio, as defined in the Credit Agreement, does not exceed 6.50 to 1.00 and, if such debt is secured, our consolidated secured leverage ratio, as defined in the Credit Agreement, does not exceed 4.00 to 1.00. In addition, the Credit Agreement contains customary events of default, including a cross default provision whereby the failure of the Borrowers or certain of their subsidiaries to make payments under other debt obligations, or the occurrence of certain events affecting those other borrowing arrangements, could trigger an obligation to repay any amounts outstanding under the Credit Agreement. In particular, a repayment obligation could be triggered if (i) the Borrowers or certain of their subsidiaries fail to make a payment when due of any principal or interest on any other indebtedness aggregating $75.0 million or more, or (ii) an event occurs that causes, or would permit the holders of any other indebtedness aggregating $75.0 million or more to cause, such indebtedness to become due prior to its stated maturity. As of June 30, 2023, the Borrowers were in compliance with all of the covenants under the Credit Agreement. A termination of either Windstream Lease would result in an “event of default” under the Credit Agreement if a replacement lease is not entered into within ninety (90) calendar days and we do not maintain pro forma compliance with a consolidated secured leverage ratio, as defined in the Credit Agreement, of 5.00 to 1.00. Borrowings under the Revolving Credit Facility bear interest at a rate equal to either a base rate plus an applicable margin ranging from 2.75% to 3.50% or a Term SOFR rate plus an applicable margin ranging from 3.75% to 4.50% in each case, calculated in a customary manner and determined based on our consolidated secured leverage ratio. We are required to pay a quarterly commitment fee under the Revolving Credit Facility equal to 0.50% of the average amount of unused commitments during the applicable quarter (subject to a step-down to 0.40% per annum of the average amount of unused commitments during the applicable quarter upon achievement of a consolidated secured leverage ratio not to exceed a certain level), as well as quarterly letter of credit fees equal to the product of (A) the applicable margin with respect to Term SOFR borrowings and (B) the average amount available to be drawn under outstanding letters of credit during such quarter. Secured Notes On February 14, 2023, the Operating Partnership, CSL Capital, LLC, Uniti Group Finance 2019 Inc. and Uniti Fiber Holdings Inc. (collectively, the “Issuers”) issued $2.6 billion aggregate principal amount of the February 2028 Secured Notes. The Issuers used the net proceeds from the offering to fund the redemption in full of the Issuers’ outstanding 7.875% senior secured notes due 2025 (the "2025 Secured Notes"), to repay outstanding borrowings under the Revolving Credit Facility and to pay any related premiums, fees and expenses in connection with the foregoing. On February 14, 2023, the Issuers deposited the full redemption price for the 2025 Secured Notes with the trustee and satisfied and discharged their respective obligations with respect to the indenture governing the 2025 Secured Notes at such time. During the first quarter of 2023, we recorded $32.3 million of loss on the extinguishment of the 2025 Secured Notes within interest expense, net on the Condensed Consolidated Statements of Income, which included $10.3 million of non-cash interest expense for the write off of the unamortized discount and deferred financing costs and $22.0 million of cash interest expense for the redemption premium. The February 2028 Secured Notes were issued at an issue price of 100% of their principal amount pursuant to an indenture, dated as of February 14, 2023 (the “February 2028 Secured Notes Indenture”), among the Issuers, the guarantors named therein (collectively, the “Guarantors”) and Deutsche Bank Trust Company Americas, as trustee and as collateral agent. The February 2028 Secured Notes mature on February 15, 2028 and bear interest at a rate of 10.50% per year. Interest on the February 2028 Secured Notes is payable on March 15 and September 15 of each year, beginning on September 15, 2023. The Issuers may redeem the February 2028 Secured Notes, in whole or in part, at any time prior to September 15, 2025 at a redemption price equal to 100% of the principal amount of the February 2028 Secured Notes redeemed plus accrued and unpaid interest thereon, if any, to, but not including, the redemption date, plus an applicable “make whole” premium described in the February 2028 Secured Notes Indenture. Thereafter, the Issuers may redeem the February 2028 Secured Notes in whole or in part, at the redemption prices set forth in the February 2028 Secured Notes Indenture. In addition, prior to February 15, 2025, the Issuers may, on one or more occasions, redeem up to 10% of the aggregate principal amount of the February 2028 Secured Notes in any twelve month period at a redemption price equal to 103% of the principal amount thereof plus accrued and unpaid interest thereon, if any, to, but not including, the applicable redemption date. Notwithstanding the foregoing, the Issuers may not use the proceeds of any offering of Additional Notes (as defined in the February 2028 Secured Notes Indenture) with a price to investors equal to or in excess of 103% to finance any such optional redemption. Further, at any time on or prior to September 15, 2025, up to 40% of the aggregate principal amount of the February 2028 Secured Notes may be redeemed with the net cash proceeds of certain equity offerings at a redemption price of 110.50% of the principal amount plus accrued and unpaid interest, if any, to, but not including, the applicable redemption date; provided that at least 60% of aggregate principal amount of the originally issued February 2028 Secured Notes remains outstanding. If certain changes of control of the Operating Partnership occur, holders of the February 2028 Secured Notes will have the right to require the Issuers to offer to repurchase their Notes at 101% of their principal amount plus accrued and unpaid interest, if any, to, but not including, the repurchase date. The February 2028 Secured Notes are fully and unconditionally guaranteed, jointly and severally, on a senior unsecured basis by the Company and on a senior secured basis by each of the Operating Partnership’s existing and future domestic restricted subsidiaries (other than the Issuers) that guarantees indebtedness under the Company’s senior secured credit facilities and existing secured notes (the “Subsidiary Guarantors”). In addition, the Issuers will use commercially reasonable efforts to obtain necessary regulatory approval to allow certain non-guarantor subsidiaries of the Company to guarantee the February 2028 Secured Notes, including by making filings to obtain such approval within 60 days of the issuance of the February 2028 Secured Notes. The guarantees are subject to release under specified circumstances, including certain circumstances in which such guarantees may be automatically released without the consent of the holders of the February 2028 Secured Notes. The February 2028 Secured Notes and the related guarantees are the Issuers’ and the Subsidiary Guarantors’ senior secured obligations and rank equal in right of payment with all of the Issuers’ and the Subsidiary Guarantors’ existing and future unsubordinated obligations; effectively senior to all unsecured indebtedness of the Issuers and the Subsidiary Guarantors, including the Company’s existing senior unsecured notes, to the extent of the value of the collateral securing the February 2028 Secured Notes; effectively equal with all of the Issuers’ and the Subsidiary Guarantors’ existing and future indebtedness that is secured by first-priority liens on the collateral (including indebtedness under the Company’s senior secured credit facilities and existing secured notes); senior in right of payment to any of the Issuers’ and Subsidiary Guarantors’ subordinated indebtedness; and structurally subordinated to all existing and future liabilities (including trade payables) of the Company’s subsidiaries (other than the Issuers) that do not guarantee the February 2028 Secured Notes. The February 2028 Secured Notes Indenture contains customary high yield covenants limiting the ability of the Operating Partnership and its restricted subsidiaries to: incur or guarantee additional indebtedness; incur or guarantee secured indebtedness; pay dividends or distributions on, or redeem or repurchase, capital stock; make certain investments or other restricted payments; sell assets; transfer material intellectual property to unrestricted subsidiaries; enter into transactions with affiliates; merge or consolidate or sell all or substantially all of their assets; and create restrictions on the ability of the Issuers and their restricted subsidiaries to pay dividends or other amounts to the Issuers. These covenants are subject to a number of important and significant limitations, qualifications and exceptions. The February 2028 Secured Notes Indenture also contains customary events of default. Exchangeable Notes On March 21, 2023, the Company repurchased approximately $15.0 million of the Exchangeable Notes for total cash consideration of $13.7 million. During the first quarter of 2023, we recorded $1.1 million of gain on extinguishment of debt, net within interest expense on our Condensed Consolidated Statements of Income, which included $0.1 million of non-cash interest expense for the write off of the unamortized discount and deferred financing costs. In connection with these repurchases, the Company entered into partial unwind agreements with the Counterparties to unwind a portion of the Note Hedge Transactions and the Warrants described above (see Note 8). Deferred Financing Cost

Earnings Per Share

Earnings Per Share	6 Months Ended
Earnings Per Share	Jun. 30, 2023
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share Our time-based 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 (“ASC 260”). 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 dilutive effect of the Exchangeable Notes and the Convertible 2027 Notes is calculated by using the “if-converted” method. This assumes an add-back of interest, net of income taxes, to net income attributable to shareholders as if the securities were converted at the beginning of the reporting period (or at time of issuance, if later) and the resulting common shares included in number of weighted average shares. The dilutive effect of the Warrants ( see Note 8 ) is calculated using the treasury-stock method. During the three and six months ended June 30, 2023 and 2022, the Warrants were excluded from diluted shares outstanding because the exercise price exceeded the average market price of our common stock for the reporting period. The following sets forth the computation of basic and diluted earnings per share under the two-class method: Three Months Ended June 30, Six Months Ended June 30, (Thousands, except per share data) 2023 2022 2023 2022 Basic earnings per share: Numerator: Net income attributable to shareholders $ 25,626 $ 53,697 $ 6,424 $ 106,427 Less: Income allocated to participating securities (322) (340) (569) (671) Dividends declared on convertible preferred stock (5) (5) (10) (10) Net income attributable to common shares $ 25,299 $ 53,352 $ 5,845 $ 105,746 Denominator: Basic weighted-average common shares outstanding 236,429 235,656 236,260 235,352 Basic earnings per common share 0.11 0.23 0.02 0.45 Three Months Ended June 30, Six Months Ended June 30, (Thousands, except per share data) 2023 2022 2023 2022 Diluted earnings per share: Numerator: Net income attributable to shareholders $ 25,626 $ 53,697 $ 6,424 $ 106,427 Less: Income allocated to participating securities (322) (340) (569) (671) Dividends declared on convertible preferred stock (5) (5) (10) (10) Impact on if-converted dilutive securities — 3,000 — 5,994 Net income attributable to common shares $ 25,299 $ 56,352 $ 5,845 $ 111,740 Denominator: Basic weighted-average common shares outstanding 236,429 235,656 236,260 235,352 Effect of dilutive non-participating securities — 359 — 347 Impact on if-converted dilutive securities — 31,346 — 31,346 Weighted-average shares for dilutive earnings per common share 236,429 267,361 236,260 267,045 Dilutive earnings per common share $ 0.11 $ 0.21 $ 0.02 $ 0.42

Segment Information

Segment Information	6 Months Ended
Segment Information	Jun. 30, 2023
Segment Reporting [Abstract]
Segment Information	Segment Information Our management, including our chief executive officer, who is our chief operating decision maker, manages our operations as two reportable segments, in addition to our corporate operations, which include: Uniti Leasing : Represents the operations of our leasing business, Uniti Leasing, which is engaged in the acquisition and construction of mission-critical communications assets and leasing them to anchor customers on either an exclusive or shared-tenant basis, in addition to the leasing of dark fiber on our existing dark fiber network assets that we either constructed or acquired. While the Leasing segment represents our REIT operations, certain aspects of the Leasing segment are also operated through taxable REIT subsidiaries. Uniti Fiber : Represents the operations of our fiber business, Uniti Fiber, which is a leading provider of infrastructure solutions, including cell site backhaul and dark fiber, to the telecommunications industry. Corporate : Represents our corporate office and shared service functions. Certain costs and expenses, primarily related to headcount, insurance, professional fees and similar charges, that are directly attributable to operations of our business segments are allocated to the respective segments. Management evaluates the performance of each segment using Adjusted EBITDA, which is a segment performance measure we define as net income determined in accordance with GAAP, before interest expense, provision for income taxes, depreciation and amortization, stock-based compensation expense and the impact, which may be recurring in nature, of transaction and integration related costs, costs associated with Windstream’s bankruptcy, costs associated with litigation claims made against us, costs associated with the implementation of our enterprise resource planning system, executive severance costs, costs related to the settlement with Windstream, amortization of non-cash rights-of-use assets, the write off of unamortized deferred financing costs, costs incurred as a result of the early repayment of debt, including early tender and redemption premiums and costs associated with the termination of related hedging activities, gains or losses on dispositions, changes in the fair value of contingent consideration and financial instruments, and other similar or infrequent items (although we may not have had such charges in the periods presented). Adjusted EBITDA includes adjustments to reflect the Company’s share of Adjusted EBITDA from unconsolidated entities. The Company believes that net income, as defined by GAAP, is the most appropriate earnings metric; however, we believe that Adjusted EBITDA serves as a useful supplement to net income because it allows investors, analysts and management to evaluate the performance of our segments in a manner that is comparable period over period. Adjusted EBITDA should not be considered as an alternative to net income as determined in accordance with GAAP. Selected financial data related to our segments is presented below for the three and six months ended June 30, 2023 and 2022: Three Months Ended June 30, 2023 (Thousands) Uniti Leasing Uniti Fiber Corporate Subtotal of Reportable Segments Revenues $ 212,453 $ 71,245 $ — $ 283,698 Adjusted EBITDA $ 206,552 $ 25,181 $ (3,566) $ 228,167 Less: Interest expense 119,689 Depreciation and amortization 44,690 32,563 14 77,267 Transaction related and other costs 5,576 Other, net 469 Stock-based compensation 3,130 Income tax benefit (4,357) Adjustments for equity in earnings from unconsolidated entities 755 Net income $ 25,638 Three Months Ended June 30, 2022 (Thousands) Uniti Leasing Uniti Fiber Corporate Subtotal of Reportable Segments Revenues $ 205,614 $ 78,361 $ — $ 283,975 Adjusted EBITDA $ 200,349 $ 33,583 $ (6,768) $ 227,164 Less: Interest expense 96,377 Depreciation and amortization 42,513 29,753 37 72,303 Transaction related and other costs 3,235 Gain on sale of real estate (250) Other, net (7,495) Stock-based compensation 3,201 Income tax expense 4,944 Adjustments for equity in earnings from unconsolidated entities 1,075 Net income $ 53,774 Six Months Ended June 30, 2023 (Thousands) Uniti Leasing Uniti Fiber Corporate Subtotal of Reportable Segments Revenues $ 423,261 150,259 $ — $ 573,520 Adjusted EBITDA $ 411,518 58,855 (11,005) $ 459,368 Less: Interest expense 268,552 Depreciation and amortization 88,862 65,150 30 154,042 Transaction related and other costs 8,364 Other, net 20,982 Stock-based compensation 6,260 Income tax benefit (6,769) Adjustments for equity in earnings from unconsolidated entities 1,510 Net income $ 6,427 Six Months Ended June 30, 2022 (Thousands) Uniti Leasing Uniti Fiber Corporate Subtotal of Reportable Segments Revenues $ 410,255 $ 151,754 $ — $ 562,009 Adjusted EBITDA $ 399,322 $ 65,042 $ (12,411) $ 451,953 Less: Interest expense 192,549 Depreciation and amortization 84,616 59,071 73 143,760 Transaction related and other costs 4,949 Gain on sale of real estate (250) Other, net (7,134) Stock-based compensation 6,513 Income tax expense 2,873 Adjustments for equity in earnings from unconsolidated entities 2,061 Net income $ 106,632

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
Commitments and Contingencies	Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies In the ordinary course of our business, we are subject to claims and administrative proceedings, none of which we believe are material or would be expected to have, individually or in the aggregate, a material adverse effect on our business, financial condition, cash flows or results of operations. Windstream Commitments Following the consummation of our settlement agreement with Windstream, including entry into the Windstream Leases, we are obligated to make $490.1 million of cash payments to Windstream in equal installments over 20 consecutive quarters beginning in October 2020, and Uniti may prepay any installments due on or after the first anniversary of the settlement agreement (discounted at a 9% rate). As of June 30, 2023, the Company has made payments totaling $264.4 million. Further, beginning in October 2020, we became obligated to reimburse Windstream for up to an aggregate of $1.75 billion for certain growth capital improvements in long-term fiber and related assets made by Windstream (“Growth Capital Improvements”) through 2029. Uniti’s reimbursement commitment for Growth Capital Improvements does not require Uniti to reimburse Windstream for maintenance or repair expenditures (except for costs incurred for fiber replacements to the property leased under the competitive local exchange carrier master lease agreement, up to $70 million during the term), and each such reimbursement is subject to underwriting standards. Uniti’s total annual reimbursement commitments for the Growth Capital Improvements under both Windstream Leases (and under separate equipment loan facilities) were limited to $225 million in 2022, and are limited to $225 million per year in 2023 and 2024; $175 million per year in 2025 and 2026; and $125 million per year in 2027 through 2029. If the cost incurred by Windstream (or the successor tenant under a Windstream Lease) for Growth Capital Improvements in any calendar year exceeds the annual limit for such calendar year, Windstream (or such tenant, as the case may be) may submit such excess costs for reimbursement in any subsequent year and such excess costs shall be funded from the annual commitment amounts in such subsequent period. In addition, to the extent that reimbursements for Growth Capital Improvements funded in any calendar year during the term is less than the annual limit for such calendar year, the unfunded amount in any calendar year will carry-over and may be added to the annual limits for subsequent calendar years, subject to an annual limit of $250 million in any calendar year. During the six months ended June 30, 2023, Uniti reimbursed $158.8 million of Growth Capital Improvements, of which $35.1 million represented the reimbursement of capital improvements completed in 2022 that were previously classified as tenant funded capital improvements. As of the date of this Quarterly Report on Form 10-Q, we have reimbursed a total of $726.7 million of Growth Capital Improvements. Upon reimbursement, the Company reduced the unamortized portion of deferred revenue related to these capital improvements and capitalized the difference between the cash provided to Windstream and the unamortized deferred revenue as a lease incentive. This lease incentive, which is $0.7 million and reported within other assets on our Condensed Consolidated Balance Sheets as of June 30, 2023, will be amortized as a reduction to revenue over the initial term of the Windstream Leases. Starting on the first anniversary of each installment of reimbursement for a Growth Capital Improvement, the rent payable by Windstream under the applicable Windstream Lease will increase by an amount equal to 8.0% (the “Rent Rate”) of such installment of reimbursement. The Rent Rate will thereafter increase to 100.5% of the prior Rent Rate on each anniversary of each reimbursement. In the event that the tenant’s interest in either Windstream Lease is transferred by Windstream under the terms thereof (unless transferred to the same transferee), or if Uniti transfers its interests as landlord under either Windstream Lease (unless to the same transferee), the reimbursement rights and obligations will be allocated between the ILEC MLA and the CLEC MLA by Windstream, provided that the maximum that may be allocated to the CLEC MLA following such transfer is $20 million per year. If Uniti fails to reimburse any Growth Capital Improvement reimbursement payment or equipment loan funding request as and when it is required to do so under the terms of the Windstream Leases, and such failure continues for thirty (30) days, then such unreimbursed amounts may be applied as an offset against the rent owed by Windstream under the Windstream Leases (and such amounts will thereafter be treated as if Uniti had reimbursed them). Uniti and Windstream have entered into separate ILEC and CLEC Equipment Loan and Security Agreements (collectively “Equipment Loan Agreement”) in which Uniti will provide up to $125 million (limited to $25 million in any calendar year) of the $1.75 billion of Growth Capital Improvements commitments discussed above in the form of loans for Windstream to purchase equipment related to network upgrades or to be used in connection with the Windstream Leases. Interest on these loans will accrue at 8% from the date of the borrowing. All equipment financed through the Equipment Loan Agreement is the sole property of Windstream; however, Uniti will receive a first-lien security interest in the equipment purchased with the loans. No loans have been made under the Equipment Loan Agreement. Other Litigation Beginning on October 25, 2019, shareholders filed class action lawsuits that were consolidated into one case under the caption In re Uniti Group Inc. Securities Litigation (the "Class Action") in the U.S. District Court for the Eastern District of Arkansas against the Company and certain of our officers, alleging violations of the federal securities laws based on claims that the defendants improperly failed to disclose the risk that our spin-off from Windstream (the "Spin-Off") and entry into the Master Lease violated certain debt covenants of Windstream. The Class Action sought class certification, unspecified monetary damages, costs and attorneys’ fees and other relief. On March 25, 2022, the parties reached an agreement to settle the Class Action for $38.9 million, to be funded entirely by the Company’s insurance carriers, which was approved by the court on November 7, 2022. In accordance with ASC 450, we recorded $38.9 million of settlement expense within general and administrative expense within our Condensed Consolidated Statements of Income during the first quarter of 2022 and accounts payable, accrued expenses and other liabilities, net within our Condensed Consolidated Balance Sheets as of March 31, 2022. Additionally, we recorded the probable insurance recovery of $38.9 million as a reduction to general and administrative expense during the three months ended March 31, 2022 within our Condensed Consolidated Statements of Income, and other assets within the Condensed Consolidated Balance Sheets as of March 31, 2022. The probable insurance recovery remains in other assets within the Condensed Consolidated Balance Sheets as of June 30, 2023. On August 17, 2021, shareholders filed a derivative action on behalf of the Company in the Circuit Court for Baltimore City, Maryland, under the caption Mayer et al. v. Gunderman et al. (the “Mayer Derivative Action”). On February 11, 2022, a shareholder filed a derivative action on behalf of the Company in the federal District Court for the District of Maryland, under the caption Guzzo et al. v. Gunderman et al. (the “Guzzo Derivative Action” and together, with the Mayer Derivative Action, the "Derivative Actions"). Various members of the Company's board of directors and management team were named as defendants in the Derivative Actions. The allegations in the Derivative Actions are similar to those in the Class Action, and both sought unspecified damages, equity relief and related costs and fees. On March 3, 2023, the parties to the Derivative Actions signed a stipulation of settlement agreeing to settle the actions in exchange for non-monetary damages, and also agreeing to an award of attorney’s fees and expenses to plaintiffs’ counsel in both actions in the amount of $0.8 million. The court in the Mayer Derivative Action granted final approval to the settlement on May 9, 2023 and dismissed the action. On May 11, 2023, the parties to the Guzzo Derivative Action filed a stipulation and order of dismissal in the action based on the final approval of the settlement in the Mayer Derivative Action, which was entered on May 25, 2023. We maintain insurance policies that would provide coverage to various degrees for potential liabilities arising from the legal proceedings described above.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	6 Months Ended
Accumulated Other Comprehensive Loss	Jun. 30, 2023
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Accumulated Other Comprehensive Loss	Accumulated Other Comprehensive Loss Changes in accumulated other comprehensive loss by component is as follows for the three and six months ended June 30, 2023 and 2022: Three Months Ended June 30, Six Months Ended June 30, (Thousands) 2023 2022 2023 2022 Cash flow hedge changes in fair value: Balance at beginning of period attributable to shareholders $ (30,353) $ (30,353) $ (30,353) $ (30,353) Balance at end of period attributable to shareholders (30,353) (30,353) (30,353) (30,353) Interest rate swap termination: Balance at beginning of period attributable to shareholders 30,353 24,012 30,353 21,189 Amounts reclassified from accumulated other comprehensive income — 2,829 — 5,659 Balance at end of period 30,353 26,841 30,353 26,848 Less: Other comprehensive income attributable to noncontrolling interest — 4 — 11 Balance at end of period attributable to shareholders 30,353 26,837 30,353 26,837 Accumulated other comprehensive loss at end of period $ — $ (3,516) $ — $ (3,516)

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Pay vs Performance Disclosure
Net income attributable to shareholders	$ 25,626	$ 53,697	$ 6,424	$ 106,427

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Jun. 30, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Basis of Presentation and Sum_2

Basis of Presentation and Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2023
Accounting Policies [Abstract]
Consolidation	The accompanying Condensed Consolidated Financial Statements include all accounts of the Company and its wholly-owned and/or controlled subsidiaries, including the Operating Partnership. Under the Accounting Standards Codification 810, Consolidation (“ASC 810”), the Operating Partnership is considered a variable interest entity and is consolidated in the Condensed Consolidated Financial Statements of Uniti Group Inc. because the Company is the primary beneficiary. All material intercompany balances and transactions have been eliminated.
Variable Interest Entity	ASC 810 provides guidance on the identification of entities for which control is achieved through means other than voting rights (“variable interest entities” or “VIEs”) and the determination of which business enterprise, if any, should consolidate the VIEs. Generally, the consideration of whether an entity is a VIE applies when either: (1) the equity investors (if any) lack (i) the ability to make decisions about the entity’s activities through voting or similar rights, (ii) the obligation to absorb the expected losses of the entity, or (iii) the right to receive the expected residual returns of the entity; (2) the equity investment at risk is insufficient to finance that entity’s activities without additional subordinated financial support; or (3) the equity investors have voting rights that are not proportionate to their economic interests and substantially all of the activities of the entity involve or are conducted on behalf of an investor with a disproportionately small voting interest. The Company consolidates VIEs in which it is considered to be the primary beneficiary. The primary beneficiary is defined as the entity having both of the following characteristics: (1) the power to direct the activities that, when taken together, most significantly impact the VIE’s performance; and (2) the obligation to absorb losses and right to receive the returns from the VIE that would be significant to the VIE.
Basis of Accounting	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 (the “FASB”), and with the applicable rules and regulations of the Securities and Exchange Commission (the “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 Condensed 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 filed with the SEC on February 28, 2023 , as amended by Amendment No. 1 thereto filed on Form 10-K/A with the SEC on March 29, 2023
Concentration of Credit Risks	Concentration of Credit Risks —Prior to September 2020, we were party to a long-term exclusive triple-net lease (the “Master Lease”) with Windstream Holdings, Inc. (together with Windstream Holdings II, LLC, its successor in interest, and its subsidiaries, “Windstream”) pursuant to which a substantial portion of our real property was leased to Windstream and from which a substantial portion of our leasing revenues were derived. On September 18, 2020, Uniti and Windstream bifurcated the Master Lease and entered into two structurally similar master leases (collectively, the “Windstream Leases”), which amended and restated the Master Lease in its entirety. The Windstream Leases consist of (a) a master lease (the "ILEC MLA") that governs Uniti owned assets used for Windstream's incumbent local exchange carrier ("ILEC") operations and (b) a master lease (the "CLEC MLA") that governs Uniti owned assets used for Windstream's consumer competitive local exchange carrier ("CLEC") operations. Revenue under the Windstream Leases provided 66.9% and 66.3% of our revenue for the six months ended June 30, 2023 and 2022, respectively. Because a substantial portion of our revenue and cash flows are derived from lease payments by Windstream pursuant to the Windstream Leases, there could be a material adverse impact on our consolidated results of operations, liquidity, financial condition and/or ability to pay dividends and service debt if Windstream were to default under the Windstream Leases or otherwise experiences operating or liquidity difficulties and becomes unable to generate sufficient cash to make payments to us. We monitor the credit quality of Windstream through numerous methods, including by (i) reviewing credit ratings of Windstream by nationally recognized credit agencies, (ii) reviewing the financial statements of Windstream that are required to be delivered to us pursuant to the Windstream Leases, (iii) monitoring news reports regarding Windstream and its business, (iv) conducting research to ascertain industry trends potentially affecting Windstream, (v) monitoring Windstream’s compliance with the terms of the Windstream Leases and (vi) monitoring the timeliness of its payments under the Windstream Leases. As of the date of this Quarterly Report on Form 10-Q, Windstream is current on all lease payments. We note that in August 2020, Moody’s Investor Service assigned a B3 corporate family rating with a stable outlook to Windstream in connection with its post-emergence exit financing. At the same time, S&P Global Ratings assigned Windstream a B- issuer rating with a stable outlook. Both ratings remain current as of the date of this filing. In order to assist us in our continuing assessment of Windstream’s creditworthiness, we periodically receive certain confidential financial information and metrics from Windstream.
Recently Adopted Accounting Pronouncements	Recently Adopted Accounting Pronouncements In March 2022, the FASB issued Accounting Standards Update ("ASU") 2022-02, Financial Instruments—Credit Losses (Topic 326) : Troubled Debt Restructurings and Vintage Disclosures ("ASU 2022-02"), which eliminates the accounting guidance for troubled debt restructurings and requires the disclosure of current-period gross write-offs of financing receivables and net investment in leases by year of origination. The Company adopted ASU 2022-02 on January 1, 2023, and the adoption had no impact on the Company's consolidated financial statements. In December 2022, the FASB issued ASU 2022-06, Reference Rate Reform (Topic 848) : Deferral of the Sunset Date of Topic 848 ("ASU 2022-06"), which provides additional relief for contract modifications completed after the December 31, 2022 LIBOR sunset date. The amendment allows for a deferral until December 31, 2024. The Company adopted ASU 2022-06 at issuance, and the adoption had no impact on the Company's consolidated financial statements.
Segment Reporting	Management evaluates the performance of each segment using Adjusted EBITDA, which is a segment performance measure we define as net income determined in accordance with GAAP, before interest expense, provision for income taxes, depreciation and amortization, stock-based compensation expense and the impact, which may be recurring in nature, of transaction and integration related costs, costs associated with Windstream’s bankruptcy, costs associated with litigation claims made against us, costs associated with the implementation of our enterprise resource planning system, executive severance costs, costs related to the settlement with Windstream, amortization of non-cash rights-of-use assets, the write off of unamortized deferred financing costs, costs incurred as a result of the early repayment of debt, including early tender and redemption premiums and costs associated with the termination of related hedging activities, gains or losses on dispositions, changes in the fair value of contingent consideration and financial instruments, and other similar or infrequent items (although we may not have had such charges in the periods presented). Adjusted EBITDA includes adjustments to reflect the Company’s share of Adjusted EBITDA from unconsolidated entities. The Company believes that net income, as defined by GAAP, is the most appropriate earnings metric; however, we believe that Adjusted EBITDA serves as a useful supplement to net income because it allows investors, analysts and management to evaluate the performance of our segments in a manner that is comparable period over period. Adjusted EBITDA should not be considered as an alternative to net income as determined in accordance with GAAP.

Revenues (Tables)

Revenues (Tables)	6 Months Ended
Revenues (Tables)	Jun. 30, 2023
Revenue from Contract with Customer [Abstract]
Revenues Disaggregated by Revenue Stream	The following table presents our revenues disaggregated by revenue stream. Three Months Ended Six Months Ended (Thousands) 2023 2022 2023 2022 Revenue disaggregated by revenue stream Revenue from contracts with customers Uniti Fiber Lit backhaul $ 19,453 $ 19,937 $ 38,975 $ 39,375 Enterprise and wholesale 23,410 21,001 45,986 41,936 E-Rate and government 14,145 18,505 28,036 32,782 Other 730 712 1,478 1,373 Uniti Fiber $ 57,738 $ 60,155 $ 114,475 $ 115,466 Uniti Leasing 2,108 1,194 3,274 2,352 Total revenue from contracts with customers 59,846 61,349 117,749 117,818 Revenue accounted for under leasing guidance Uniti Leasing 210,345 204,420 419,987 407,903 Uniti Fiber 13,507 18,206 35,784 36,288 Total revenue accounted for under leasing guidance 223,852 222,626 455,771 444,191 Total revenue $ 283,698 $ 283,975 $ 573,520 $ 562,009
Schedule of Contract Assets and Contract Liabilities	The following table provides information about contract assets and contract liabilities accounted for under ASC 606. (Thousands) Contract Assets Contract Liabilities Balance at December 31, 2022 $ 173 $ 8,699 Balance at June 30, 2023 $ 9 $ 11,634

Leases (Tables)

Leases (Tables)	6 Months Ended
Leases (Tables)	Jun. 30, 2023
Leases [Abstract]
Components of Lease Income	The components of lease income for the three and six months ended June 30, 2023 and 2022, respectively, are as follows: Three Months Ended June 30, Six Months Ended June 30, (Thousands) 2023 2022 2023 2022 Lease income - operating leases $ 223,852 $ 222,626 $ 455,771 $ 444,191
Lease Payments to be Received under Non-Cancellable Operating Leases	Lease payments to be received under non-cancellable operating leases where we are the lessor for the remainder of the lease terms as of June 30, 2023 are as follows: (Thousands) June 30, 2023⁽¹⁾ 2023 $ 391,429 2024 802,346 2025 807,463 2026 809,009 2027 809,987 Thereafter 2,340,773 Total lease receivables $ 5,961,007 (1) Total future minimum lease payments to be received include $5.0 billion relating to the Windstream Leases.
Property, Plant, and Equipment, Lessor Asset under Operating Lease	The underlying assets under operating leases where we are the lessor are summarized as follows: (Thousands) June 30, 2023 December 31, 2022 Land $ 26,549 $ 26,549 Building and improvements 346,780 346,093 Poles 304,428 296,941 Fiber 3,724,401 3,529,835 Equipment 437 437 Copper 3,970,781 3,964,439 Conduit 89,963 89,963 Tower assets 1,397 1,397 Finance lease assets 10,434 28,126 Other assets 2,615 10,434 8,477,785 8,294,214 Less: accumulated depreciation (5,616,771) (5,542,726) Underlying assets under operating leases, net $ 2,861,014 $ 2,751,488
Schedule of Depreciation Expense for Underlying Assets under Operating Leases	Depreciation expense for the underlying assets under operating leases where we are the lessor for the three and six months ended June 30, 2023 and 2022, respectively, is summarized as follows: Three Months Ended June 30, Six Months Ended June 30, (Thousands) 2023 2022 2023 2022 Depreciation expense for underlying assets under operating leases $ 45,639 $ 43,544 $ 90,845 $ 86,731
Future Lease Payments Under Non-Cancellable Operating Leases	Future lease payments under non-cancellable leases as of June 30, 2023 are as follows: (Thousands) Operating Leases Finance Leases 2023 $ 8,644 $ 1,416 2024 17,364 2,642 2025 14,542 2,588 2026 11,250 2,589 2027 8,619 2,471 Thereafter 100,324 12,639 Total undiscounted lease payments $ 160,743 $ 24,345 Less: imputed interest (78,592) (8,464) Total lease liabilities $ 82,151 $ 15,881
Future Lease Payments Under Non-Cancellable Finance Leases	Future lease payments under non-cancellable leases as of June 30, 2023 are as follows: (Thousands) Operating Leases Finance Leases 2023 $ 8,644 $ 1,416 2024 17,364 2,642 2025 14,542 2,588 2026 11,250 2,589 2027 8,619 2,471 Thereafter 100,324 12,639 Total undiscounted lease payments $ 160,743 $ 24,345 Less: imputed interest (78,592) (8,464) Total lease liabilities $ 82,151 $ 15,881

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	6 Months Ended
Fair Value of Financial Instruments (Tables)	Jun. 30, 2023
Fair Value Disclosures [Abstract]
Schedule of Fair Value Valuation of Financial Instruments	The following table summarizes the fair value of our financial instruments at June 30, 2023 and December 31, 2022: (Thousands) Total Quoted Prices in Active Markets (Level 1) Prices with Other Observable Inputs (Level 2) Prices with Unobservable At June 30, 2023 Liabilities Senior secured notes - 10.50%, due February 15, 2028 $ 2,592,304 $ — $ 2,592,304 $ — Senior secured notes - 4.75%, due April 15, 2028 473,089 — 473,089 — Exchangeable senior notes - 4.00%, due June 15, 2024 119,449 — 119,449 — Convertible senior notes - 7.50% due December 1, 2027 263,366 — 263,366 — Senior unsecured notes - 6.50%, due February 15, 2029 774,370 — 774,370 — Senior unsecured notes - 6.00%, due January 15, 2030 472,948 — 472,948 — Senior secured revolving credit facility, variable rate, due December 10, 2024 85,991 — 85,991 — Settlement payable 195,050 — 195,050 — Total $ 4,976,567 $ — $ 4,976,567 $ — (Thousands) Total Quoted Prices in Active Markets (Level 1) Prices with Other Observable Inputs (Level 2) Prices with Unobservable At December 31, 2022 Liabilities Senior secured notes - 7.875%, due February 15, 2025 $ 2,208,319 $ — $ 2,208,319 $ — Senior secured notes - 4.75%, due April 15, 2028 469,740 — 469,740 — Exchangeable senior notes - 4.00%, due June 15, 2024 127,024 — 127,024 — Senior unsecured notes - 6.50% , due February 15, 2029 759,917 — 759,917 — Senior unsecured notes - 6.00%, due January 15, 2030 467,401 — 467,401 — Convertible senior notes - 7.50%, due December 1, 2027 297,765 — 297,765 — Senior secured revolving credit facility, variable rate, due December 10, 2024 187,981 — 187,981 — Settlement payable 232,350 — 232,350 — Total $ 4,750,497 $ — $ 4,750,497 $ —

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	6 Months Ended
Property, Plant and Equipment (Tables)	Jun. 30, 2023
Property, Plant and Equipment [Abstract]
Schedule of Carrying Value of Property, Plant and Equipment	The carrying value of property, plant and equipment is as follows: (Thousands) Depreciable Lives June 30, 2023 December 31, 2022 Land Indefinite $ 29,803 $ 28,845 Building and improvements 3 - 40 years 364,062 363,077 Poles 30 years 304,428 296,941 Fiber 30 years 4,658,173 4,434,506 Equipment 5 - 7 years 439,800 399,473 Copper 20 years 3,970,781 3,964,439 Conduit 30 years 89,963 89,963 Tower assets 20 years 4,415 5,619 Finance lease assets (1) 49,174 73,487 Other assets 15 - 20 years 10,437 10,436 Corporate assets 3 - 7 years 15,412 14,883 Construction in progress (1) 56,372 46,508 9,992,820 9,728,177 Less accumulated depreciation (6,097,614) (5,973,630) Net property, plant and equipment $ 3,895,206 $ 3,754,547

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets and Liabilities (Tables)	6 Months Ended
Goodwill and Intangible Assets and Liabilities (Tables)	Jun. 30, 2023
Goodwill And Intangible Assets And Liabilities Disclosure [Abstract]
Schedule of Carrying Amount of Goodwill	Changes in the carrying value of goodwill occurring during the six months ended June 30, 2023 are as follows: (Thousands) Uniti Fiber Total Goodwill at December 31, 2022 $ 672,878 $ 672,878 Accumulated impairment charges as of December 31, 2022 (311,500) (311,500) Balance at December 31, 2022 $ 361,378 $ 361,378 Goodwill at June 30, 2023 $ 672,878 $ 672,878 Accumulated impairment charges as of June 30, 2023 (311,500) (311,500) Balance at June 30, 2023 $ 361,378 $ 361,378
Schedule of Carrying Value of Other Intangible Assets	Changes in the carrying value of intangible assets and liabilities occurring during the six months ended June 30, 2023 are as follows: (Thousands) June 30, 2023 December 31, 2022 Original Cost Accumulated Amortization Original Cost Accumulated Finite life intangible assets: Customer lists $ 416,104 $ (140,149) $ 416,104 $ (128,728) Contracts 52,536 (18,059) 52,536 (14,776) Underlying Rights 10,497 (962) 10,497 (787) Total intangible assets $ 479,137 $ 479,137 Less: accumulated amortization (159,170) (144,291) Total intangible assets, net $ 319,967 $ 334,846 Finite life intangible liabilities: Below-market leases $ 191,154 (29,409) $ 191,154 (24,062) Finite life intangible liabilities: Below-market leases $ 191,154 $ 191,154 Less: accumulated amortization (29,409) (24,062) Total intangible liabilities, net $ 161,745 $ 167,092

Notes and Other Debt (Tables)

Notes and Other Debt (Tables)	6 Months Ended
Notes and Other Debt (Tables)	Jun. 30, 2023
Long-Term Debt, Unclassified [Abstract]
Schedule of Notes and Other Debt	Notes and other debt are as follows: (Thousands) June 30, 2023 December 31, 2022 Principal amount $ 5,495,442 $ 5,262,373 Less unamortized discount, premium and debt issuance costs (102,906) (73,558) Notes and other debt less unamortized discount, premium and debt issuance costs $ 5,392,536 $ 5,188,815 Notes and other debt at June 30, 2023 and December 31, 2022 consisted of the following: June 30, 2023 December 31, 2022 (Thousands) Principal Unamortized Discount, Premium and Debt Issuance Costs Principal Unamortized Discount, Premium and Debt Issuance Costs Senior secured notes - 7.875% due February 15, 2025 (discount is based on imputed interest rate of 8.38%) $ — $ — $ 2,250,000 $ (22,239) Senior secured notes - 10.50% due February 15, 2028 (discount is based on imputed interest rate of 11.06%) 2,600,000 (52,834) — — Senior secured notes - 4.75%, due April 15, 2028 (discount is based on imputed interest rate of 5.04%) 570,000 (7,015) 570,000 (7,654) Exchangeable senior notes - 4.00%, due June 15, 2024 (discount is based on imputed interest rate of 4.77%) 122,942 (883) 137,873 (1,501) Convertible senior notes - 7.50%, due December 1, 2027 (discount is based on imputed interest rate of 8.29%) 306,500 (8,947) 306,500 (9,768) Senior unsecured notes - 6.00% due January 15, 2030 (discount is based on imputed interest rate of 6.27%) 700,000 (9,931) 700,000 (10,535) Senior unsecured notes - 6.50%, due February 15, 2029 (discount is based on imputed interest rate of 6.83%) 1,110,000 (17,024) 1,110,000 (18,245) Senior secured revolving credit facility, variable rate, due December 10, 2024 86,000 (6,272) 188,000 (3,616) Total $ 5,495,442 $ (102,906) $ 5,262,373 $ (73,558)

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
Earnings Per Share (Tables)	Jun. 30, 2023
Earnings Per Share [Abstract]
Schedule of Earnings Per Share Basic and Diluted	The following sets forth the computation of basic and diluted earnings per share under the two-class method: Three Months Ended June 30, Six Months Ended June 30, (Thousands, except per share data) 2023 2022 2023 2022 Basic earnings per share: Numerator: Net income attributable to shareholders $ 25,626 $ 53,697 $ 6,424 $ 106,427 Less: Income allocated to participating securities (322) (340) (569) (671) Dividends declared on convertible preferred stock (5) (5) (10) (10) Net income attributable to common shares $ 25,299 $ 53,352 $ 5,845 $ 105,746 Denominator: Basic weighted-average common shares outstanding 236,429 235,656 236,260 235,352 Basic earnings per common share 0.11 0.23 0.02 0.45 Three Months Ended June 30, Six Months Ended June 30, (Thousands, except per share data) 2023 2022 2023 2022 Diluted earnings per share: Numerator: Net income attributable to shareholders $ 25,626 $ 53,697 $ 6,424 $ 106,427 Less: Income allocated to participating securities (322) (340) (569) (671) Dividends declared on convertible preferred stock (5) (5) (10) (10) Impact on if-converted dilutive securities — 3,000 — 5,994 Net income attributable to common shares $ 25,299 $ 56,352 $ 5,845 $ 111,740 Denominator: Basic weighted-average common shares outstanding 236,429 235,656 236,260 235,352 Effect of dilutive non-participating securities — 359 — 347 Impact on if-converted dilutive securities — 31,346 — 31,346 Weighted-average shares for dilutive earnings per common share 236,429 267,361 236,260 267,045 Dilutive earnings per common share $ 0.11 $ 0.21 $ 0.02 $ 0.42

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
Segment Information (Tables)	Jun. 30, 2023
Segment Reporting [Abstract]
Schedule of Segment Reporting Information	Selected financial data related to our segments is presented below for the three and six months ended June 30, 2023 and 2022: Three Months Ended June 30, 2023 (Thousands) Uniti Leasing Uniti Fiber Corporate Subtotal of Reportable Segments Revenues $ 212,453 $ 71,245 $ — $ 283,698 Adjusted EBITDA $ 206,552 $ 25,181 $ (3,566) $ 228,167 Less: Interest expense 119,689 Depreciation and amortization 44,690 32,563 14 77,267 Transaction related and other costs 5,576 Other, net 469 Stock-based compensation 3,130 Income tax benefit (4,357) Adjustments for equity in earnings from unconsolidated entities 755 Net income $ 25,638 Three Months Ended June 30, 2022 (Thousands) Uniti Leasing Uniti Fiber Corporate Subtotal of Reportable Segments Revenues $ 205,614 $ 78,361 $ — $ 283,975 Adjusted EBITDA $ 200,349 $ 33,583 $ (6,768) $ 227,164 Less: Interest expense 96,377 Depreciation and amortization 42,513 29,753 37 72,303 Transaction related and other costs 3,235 Gain on sale of real estate (250) Other, net (7,495) Stock-based compensation 3,201 Income tax expense 4,944 Adjustments for equity in earnings from unconsolidated entities 1,075 Net income $ 53,774 Six Months Ended June 30, 2023 (Thousands) Uniti Leasing Uniti Fiber Corporate Subtotal of Reportable Segments Revenues $ 423,261 150,259 $ — $ 573,520 Adjusted EBITDA $ 411,518 58,855 (11,005) $ 459,368 Less: Interest expense 268,552 Depreciation and amortization 88,862 65,150 30 154,042 Transaction related and other costs 8,364 Other, net 20,982 Stock-based compensation 6,260 Income tax benefit (6,769) Adjustments for equity in earnings from unconsolidated entities 1,510 Net income $ 6,427 Six Months Ended June 30, 2022 (Thousands) Uniti Leasing Uniti Fiber Corporate Subtotal of Reportable Segments Revenues $ 410,255 $ 151,754 $ — $ 562,009 Adjusted EBITDA $ 399,322 $ 65,042 $ (12,411) $ 451,953 Less: Interest expense 192,549 Depreciation and amortization 84,616 59,071 73 143,760 Transaction related and other costs 4,949 Gain on sale of real estate (250) Other, net (7,134) Stock-based compensation 6,513 Income tax expense 2,873 Adjustments for equity in earnings from unconsolidated entities 2,061 Net income $ 106,632

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (Tables)	6 Months Ended
Accumulated Other Comprehensive Loss (Tables)	Jun. 30, 2023
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Schedule of Changes in Accumulated Other Comprehensive (Loss) Income by Component	Changes in accumulated other comprehensive loss by component is as follows for the three and six months ended June 30, 2023 and 2022: Three Months Ended June 30, Six Months Ended June 30, (Thousands) 2023 2022 2023 2022 Cash flow hedge changes in fair value: Balance at beginning of period attributable to shareholders $ (30,353) $ (30,353) $ (30,353) $ (30,353) Balance at end of period attributable to shareholders (30,353) (30,353) (30,353) (30,353) Interest rate swap termination: Balance at beginning of period attributable to shareholders 30,353 24,012 30,353 21,189 Amounts reclassified from accumulated other comprehensive income — 2,829 — 5,659 Balance at end of period 30,353 26,841 30,353 26,848 Less: Other comprehensive income attributable to noncontrolling interest — 4 — 11 Balance at end of period attributable to shareholders 30,353 26,837 30,353 26,837 Accumulated other comprehensive loss at end of period $ — $ (3,516) $ — $ (3,516)

Organization and Description _2

Organization and Description of Business (Details)	6 Months Ended
Organization and Description of Business (Details)	Jun. 30, 2023 segment
Organization And Description Of Business [Line Items]
Number of operating business segments	2
Uniti Group LP
Organization And Description Of Business [Line Items]
Percentage of partnership interests owned	99.96%

Basis of Presentation and Sum_3

Basis of Presentation and Summary of Significant Accounting Policies (Details) - lease		6 Months Ended
	Sep. 18, 2020	Jun. 30, 2023	Jun. 30, 2022
Summary Of Significant Accounting Policies [Line Items]
Number of master leases	2
Concentration of Credit Risk \| Revenue \| Windstream
Summary Of Significant Accounting Policies [Line Items]
Master lease and the windstream leases revenue percentage		66.90%	66.30%

Revenues - Revenues Disaggregat

Revenues - Revenues Disaggregated by Revenue Stream (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Disaggregation Of Revenue [Line Items]
Total revenue from contracts with customers	$ 59,846	$ 61,349	$ 117,749	$ 117,818
Lease income - operating leases	223,852	222,626	455,771	444,191
Total revenues	283,698	283,975	573,520	562,009
Uniti Fiber
Disaggregation Of Revenue [Line Items]
Total revenue from contracts with customers	57,738	60,155	114,475	115,466
Lease income - operating leases	13,507	18,206	35,784	36,288
Total revenues	71,245	78,361	150,259	151,754
Uniti Fiber \| Lit backhaul
Disaggregation Of Revenue [Line Items]
Total revenue from contracts with customers	19,453	19,937	38,975	39,375
Uniti Fiber \| Enterprise and wholesale
Disaggregation Of Revenue [Line Items]
Total revenue from contracts with customers	23,410	21,001	45,986	41,936
Uniti Fiber \| E-Rate and government
Disaggregation Of Revenue [Line Items]
Total revenue from contracts with customers	14,145	18,505	28,036	32,782
Uniti Fiber \| Other
Disaggregation Of Revenue [Line Items]
Total revenue from contracts with customers	730	712	1,478	1,373
Uniti Leasing
Disaggregation Of Revenue [Line Items]
Total revenue from contracts with customers	2,108	1,194	3,274	2,352
Lease income - operating leases	210,345	204,420	419,987	407,903
Total revenues	$ 212,453	$ 205,614	$ 423,261	$ 410,255

Revenues - Additional Informati

Revenues - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2023	Dec. 31, 2022
Disaggregation Of Revenue [Line Items]
Accounts receivable, net	$ 43,021	$ 43,021	$ 42,631
Contract with customer, receivable, after allowance for credit loss	16,000	16,000	16,100
Revenue recognized that was included in the contract liability	2,000	2,600
Future revenues under contract	534,500	534,500
Operating Lease Receivable
Disaggregation Of Revenue [Line Items]
Accounts receivable, net	22,900	22,900	$ 26,200
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2023-07-01 \| Billed Revenues
Disaggregation Of Revenue [Line Items]
Future revenues under contract	$ 466,100	$ 466,100
Average remaining contract term for contracts currently billing	2 years 3 months 18 days	2 years 3 months 18 days
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2023-07-01 \| Unbilled Revenues
Disaggregation Of Revenue [Line Items]
Future revenues under contract	$ 68,400	$ 68,400
Average remaining contract term for contracts currently billing	5 years 2 months 12 days	5 years 2 months 12 days

Revenues - Schedule of Contract

Revenues - Schedule of Contract Assets and Contract Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Revenue from Contract with Customer [Abstract]
Contract Assets	$ 9	$ 173
Contract Liabilities	$ 11,634	$ 8,699

Leases - Additional Information

Leases - Additional Information (Details) $ in Thousands	6 Months Ended
Leases - Additional Information (Details) $ in Thousands	Jun. 30, 2023 USD ($)
Leases [Line Items]
Short term lease commitments	$ 3,250
Minimum
Leases [Line Items]
Lessor, initial lease term	1 year
Lessor, lease renewal term	1 year
Lessor operating lease, termination	1 month
Lessee, initial lease term	1 year
Lessee, lease renewal term	1 year
Lessee operating lease, termination	1 month
Maximum
Leases [Line Items]
Lessor, initial lease term	35 years
Lessor, lease renewal term	20 years
Lessor operating lease, termination	6 months
Lessee, initial lease term	30 years
Lessee, lease renewal term	20 years
Lessee operating lease, termination	6 months

Leases - Components of Lease In

Leases - Components of Lease Income (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Leases [Abstract]
Lease income - operating leases	$ 223,852	$ 222,626	$ 455,771	$ 444,191

Leases - Lease Payments to be R

Leases - Lease Payments to be Received under Non-Cancellable Operating Leases (Details) $ in Thousands	Jun. 30, 2023 USD ($)
Lessee Lease Description [Line Items]
2023	$ 391,429
2024	802,346
2025	807,463
2026	809,009
2027	809,987
Thereafter	2,340,773
Total lease receivables	5,961,007
Total future minimum lease payments to be received	5,961,007
Windstream
Lessee Lease Description [Line Items]
Total lease receivables	5,000,000
Total future minimum lease payments to be received	$ 5,000,000

Leases - Schedule of Underlying

Leases - Schedule of Underlying Assets under Operating Leases (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Lessor Lease Description [Line Items]
Underlying assets under operating leases, gross	$ 8,477,785	$ 8,294,214
Less: accumulated depreciation	(5,616,771)	(5,542,726)
Underlying assets under operating leases, net	2,861,014	2,751,488
Land
Lessor Lease Description [Line Items]
Property, plant, and equipment, lessor asset under operating lease, before accumulated depreciation	26,549	26,549
Building and improvements
Lessor Lease Description [Line Items]
Property, plant, and equipment, lessor asset under operating lease, before accumulated depreciation	346,780	346,093
Poles
Lessor Lease Description [Line Items]
Property, plant, and equipment, lessor asset under operating lease, before accumulated depreciation	304,428	296,941
Fiber
Lessor Lease Description [Line Items]
Property, plant, and equipment, lessor asset under operating lease, before accumulated depreciation	3,724,401	3,529,835
Equipment
Lessor Lease Description [Line Items]
Property, plant, and equipment, lessor asset under operating lease, before accumulated depreciation	437	437
Copper
Lessor Lease Description [Line Items]
Property, plant, and equipment, lessor asset under operating lease, before accumulated depreciation	3,970,781	3,964,439
Conduit
Lessor Lease Description [Line Items]
Property, plant, and equipment, lessor asset under operating lease, before accumulated depreciation	89,963	89,963
Tower assets
Lessor Lease Description [Line Items]
Property, plant, and equipment, lessor asset under operating lease, before accumulated depreciation	1,397	1,397
Finance lease assets
Lessor Lease Description [Line Items]
Finance lease assets	10,434	28,126
Other assets
Lessor Lease Description [Line Items]
Property, plant, and equipment, lessor asset under operating lease, before accumulated depreciation	$ 2,615	$ 10,434

Leases - Schedule of Depreciati

Leases - Schedule of Depreciation Expense for Underlying Assets under Operating Leases (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Leases [Abstract]
Depreciation expense for underlying assets under operating leases	$ 45,639	$ 43,544	$ 90,845	$ 86,731

Leases - Future Lease Payments

Leases - Future Lease Payments under Non-Cancellable Leases (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Operating Leases
2022	$ 8,644
2024	17,364
2025	14,542
2026	11,250
2027	8,619
Thereafter	100,324
Total undiscounted lease payments	160,743
Less: imputed interest	(78,592)
Operating lease liabilities	82,151	$ 66,356
Finance Leases
2022	1,416
2024	2,642
2025	2,588
2026	2,589
2027	2,471
Thereafter	12,639
Total undiscounted lease payments	24,345
Less: imputed interest	(8,464)
Total lease liabilities	$ 15,881

Investments in Unconsolidated_2

Investments in Unconsolidated Entities (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
	Jun. 21, 2022	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Schedule Of Equity Method Investments [Line Items]
Proceeds from sale of equity method investments				$ 0	$ 32,527
Income tax (benefit) expense		$ (4,357)	$ 4,944	$ (6,769)	$ 2,873
Propco
Schedule Of Equity Method Investments [Line Items]
Equity method investment retained after disposal				20%
BB Fiber Holdings LLC
Schedule Of Equity Method Investments [Line Items]
Equity method investments		$ 38,000		$ 38,000
Harmoni
Schedule Of Equity Method Investments [Line Items]
Proceeds from sale of equity method investments	$ 32,500
Gain on sale of investments			7,900
Income tax (benefit) expense			$ 6,700
BB Fiber Holdings LLC \| Propco
Schedule Of Equity Method Investments [Line Items]
Percentage of ownership interest		47.50%		47.50%

Fair Value of Financial Instr_3

Fair Value of Financial Instruments - Schedule of Fair Value Valuation of Financial Instruments (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Feb. 14, 2023	Dec. 31, 2022	Jun. 25, 2019
Liabilities
Settlement payable	$ 195,050		$ 232,350,000
Total	4,976,567		4,750,497,000
Quoted Prices in Active Markets (Level 1)
Liabilities
Total	0		0
Prices with Other Observable Inputs (Level 2)
Liabilities
Settlement payable	195,050		232,350,000
Total	4,976,567		4,750,497,000
Prices with Unobservable Inputs (Level 3)
Liabilities
Total	0		0
Senior Secured Notes - 10.50% Due February 15, 2028
Liabilities
Senior notes	$ 2,592,304
Issuance senior notes, stated percentage	10.50%
Senior Secured Notes - 10.50% Due February 15, 2028 \| Prices with Other Observable Inputs (Level 2)
Liabilities
Senior notes	$ 2,592,304
4.75% Senior Secured Notes
Liabilities
Senior notes	$ 473,089		469,740,000
Issuance senior notes, stated percentage	4.75%
4.75% Senior Secured Notes \| Prices with Other Observable Inputs (Level 2)
Liabilities
Senior notes	$ 473,089		469,740,000
Exchangeable Senior Notes - 4.00%, due June 15, 2024
Liabilities
Senior notes	$ 119,449		127,024,000
Issuance senior notes, stated percentage	4%			4%
Exchangeable Senior Notes - 4.00%, due June 15, 2024 \| Prices with Other Observable Inputs (Level 2)
Liabilities
Senior notes	$ 119,449		127,024,000
Convertible Senior Notes 2027
Liabilities
Senior notes	$ 263,366		297,765,000
Issuance senior notes, stated percentage	7.50%
Convertible Senior Notes 2027 \| Prices with Other Observable Inputs (Level 2)
Liabilities
Senior notes	$ 263,366		297,765,000
6.50% Senior Unsecured Notes
Liabilities
Senior notes	$ 774,370		759,917,000
Issuance senior notes, stated percentage	6.50%
6.50% Senior Unsecured Notes \| Prices with Other Observable Inputs (Level 2)
Liabilities
Senior notes	$ 774,370		759,917,000
Senior Unsecured Notes - 6.00%, Due January 15, 2030
Liabilities
Senior notes	$ 472,948		467,401,000
Issuance senior notes, stated percentage	6%
Senior Unsecured Notes - 6.00%, Due January 15, 2030 \| Prices with Other Observable Inputs (Level 2)
Liabilities
Senior notes	$ 472,948		467,401,000
Senior Secured Revolving Credit Facility
Liabilities
Senior secured loan	85,991		187,981,000
Senior Secured Revolving Credit Facility \| Prices with Other Observable Inputs (Level 2)
Liabilities
Senior secured loan	$ 85,991		187,981,000
7.875% Senior Secured Notes
Liabilities
Senior notes			2,208,319,000
Issuance senior notes, stated percentage	7.875%	7.875%
7.875% Senior Secured Notes \| Prices with Other Observable Inputs (Level 2)
Liabilities
Senior notes			$ 2,208,319,000

Fair Value of Financial Instr_4

Fair Value of Financial Instruments - Additional Information (Details) $ in Thousands	Jun. 30, 2023 USD ($)	Dec. 31, 2022 USD ($)	Oct. 01, 2020 USD ($) installment
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Principal amount	$ 5,495,442	$ 5,262,373
Settlement payable (Note 13)	207,863	$ 251,098
Windstream Commitment
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Other commitment			$ 490,100
Number of installments \| installment			20
Prices with Other Observable Inputs (Level 2)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Notes and other debt, fair value	$ 4,780,000

Property, Plant and Equipment -

Property, Plant and Equipment - Schedule of Carrying Value of Property, Plant and Equipment (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	$ 9,992,820
Property, plant, and equipment and finance lease right-of-use asset	9,992,820	$ 9,728,177
Less accumulated depreciation	(6,097,614)	(5,973,630)
Net property, plant and equipment	3,895,206	3,754,547
Land
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	29,803	28,845
Building and improvements
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	$ 364,062	363,077
Building and improvements \| Minimum
Property Plant And Equipment [Line Items]
Depreciable Lives	3 years
Building and improvements \| Maximum
Property Plant And Equipment [Line Items]
Depreciable Lives	40 years
Poles
Property Plant And Equipment [Line Items]
Depreciable Lives	30 years
Property, plant and equipment, gross	$ 304,428	296,941
Fiber
Property Plant And Equipment [Line Items]
Depreciable Lives	30 years
Property, plant and equipment, gross	$ 4,658,173	4,434,506
Equipment
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	$ 439,800	399,473
Equipment \| Minimum
Property Plant And Equipment [Line Items]
Depreciable Lives	5 years
Equipment \| Maximum
Property Plant And Equipment [Line Items]
Depreciable Lives	7 years
Copper
Property Plant And Equipment [Line Items]
Depreciable Lives	20 years
Property, plant and equipment, gross	$ 3,970,781	3,964,439
Conduit
Property Plant And Equipment [Line Items]
Depreciable Lives	30 years
Property, plant and equipment, gross	$ 89,963	89,963
Tower assets
Property Plant And Equipment [Line Items]
Depreciable Lives	20 years
Property, plant and equipment, gross	$ 4,415	5,619
Finance lease assets
Property Plant And Equipment [Line Items]
Finance lease assets	49,174	73,487
Other assets
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	$ 10,437	10,436
Other assets \| Minimum
Property Plant And Equipment [Line Items]
Depreciable Lives	15 years
Other assets \| Maximum
Property Plant And Equipment [Line Items]
Depreciable Lives	20 years
Corporate assets
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	$ 15,412	14,883
Corporate assets \| Minimum
Property Plant And Equipment [Line Items]
Depreciable Lives	3 years
Corporate assets \| Maximum
Property Plant And Equipment [Line Items]
Depreciable Lives	7 years
Construction in progress
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	$ 56,372	$ 46,508

Property, Plant and Equipment_2

Property, Plant and Equipment - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 69.8	$ 64.9	$ 139.2	$ 128.9

Derivative Instruments and He_2

Derivative Instruments and Hedging Activities (Details) - $ / shares	Jun. 30, 2023	Jun. 25, 2019
Exchangeable Senior Notes - 4.00%, due June 15, 2024
Derivative Instruments And Hedging Activities Disclosures [Line Items]
Issuance senior notes, stated percentage	4%	4%
Common Stock Warrants
Derivative Instruments And Hedging Activities Disclosures [Line Items]
Exercise price of warrants or rights (in dollars per share)		$ 16.42
Maximum \| Common Stock Warrants
Derivative Instruments And Hedging Activities Disclosures [Line Items]
Warrants (in shares)		27,800,000
Maximum number of shares issued pursuant to warrants (in shares)		55,500,000

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets and Liabilities - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Goodwill And Intangible Assets And Liabilities Disclosure [Abstract]
Remaining weighted average amortization period of intangible assets	13 years 9 months 18 days		13 years 9 months 18 days
Amortization of intangible assets	$ 7,400	$ 7,400	$ 14,800	$ 14,800
Estimated amortization expense for 2023	29,800		29,800
Estimated amortization expense for 2024	29,700		29,700
Estimated amortization expense for 2025	29,700		29,700
Estimated amortization expense for 2026	29,700		29,700
Estimated amortization expense for 2027	29,700		29,700
Revenue related to amortization of below-market leases	2,600	$ 2,600	$ 5,300	$ 5,300
Remaining weighted average amortization period of intangible liabilities			16 years 6 months
Estimated revenue due to amortization, 2023	10,700		$ 10,700
Estimated revenue due to amortization, 2024	10,700		10,700
Estimated revenue due to amortization, 2025	10,700		10,700
Estimated revenue due to amortization, 2026	10,700		10,700
Estimated revenue due to amortization, 2027	$ 10,700		$ 10,700

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets and Liabilities - Schedule of Carrying Amount of Goodwill (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Goodwill [Line Items]
Goodwill gross	$ 672,878	$ 672,878
Accumulated impairment charges	(311,500)	(311,500)
Goodwill	361,378	361,378
Uniti Fiber
Goodwill [Line Items]
Goodwill gross	672,878	672,878
Accumulated impairment charges	(311,500)	(311,500)
Goodwill	$ 361,378	$ 361,378

Goodwill and Intangible Asset_5

Goodwill and Intangible Assets and Liabilities - Schedule of Carrying Value of the Intangible Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Schedule Of Indefinite And Finite Lived Intangible Assets And Liabilities [Line Items]
Total intangible assets, original cost	$ 479,137	$ 479,137
Less: accumulated amortization	(159,170)	(144,291)
Total intangible assets, net	319,967	334,846
Less: accumulated amortization	(29,409)	(24,062)
Total intangible liabilities, net	161,745	167,092
Customer lists
Schedule Of Indefinite And Finite Lived Intangible Assets And Liabilities [Line Items]
Finite life intangible assets, original cost	416,104	416,104
Less: accumulated amortization	(140,149)	(128,728)
Contracts
Schedule Of Indefinite And Finite Lived Intangible Assets And Liabilities [Line Items]
Finite life intangible assets, original cost	52,536	52,536
Less: accumulated amortization	(18,059)	(14,776)
Underlying Rights
Schedule Of Indefinite And Finite Lived Intangible Assets And Liabilities [Line Items]
Finite life intangible assets, original cost	10,497	10,497
Less: accumulated amortization	(962)	(787)
Below-market leases
Schedule Of Indefinite And Finite Lived Intangible Assets And Liabilities [Line Items]
Total intangible liabilities	191,154	191,154
Less: accumulated amortization	$ (29,409)	$ (24,062)

Notes and Other Debt - Schedule

Notes and Other Debt - Schedule of Notes and Other Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Feb. 14, 2023	Dec. 31, 2022	Jun. 25, 2019
Debt Instrument [Line Items]
Principal amount	$ 5,495,442		$ 5,262,373
Less unamortized discount, premium and debt issuance costs	(102,906)		(73,558)
Notes and other debt less unamortized discount, premium and debt issuance costs	5,392,536		5,188,815
Senior Secured Notes - 7.875% Due February 15, 2025
Debt Instrument [Line Items]
Principal amount	0		2,250,000
Less unamortized discount, premium and debt issuance costs	$ 0		(22,239)
Issuance senior notes, stated percentage	7.875%	7.875%
Effective interest rate	8.38%
Senior Secured Notes - 10.50% Due February 15, 2028
Debt Instrument [Line Items]
Principal amount	$ 2,600,000		0
Less unamortized discount, premium and debt issuance costs	$ (52,834)		0
Issuance senior notes, stated percentage	10.50%
Effective interest rate	11.06%
Senior Secured Notes - 4.75% Due April 15, 2028
Debt Instrument [Line Items]
Principal amount	$ 570,000		570,000
Less unamortized discount, premium and debt issuance costs	$ (7,015)		(7,654)
Issuance senior notes, stated percentage	4.75%
Effective interest rate	5.04%
Exchangeable Senior Notes - 4.00%, due June 15, 2024
Debt Instrument [Line Items]
Principal amount	$ 122,942		137,873
Less unamortized discount, premium and debt issuance costs	$ (883)		(1,501)
Issuance senior notes, stated percentage	4%			4%
Effective interest rate	4.77%
Convertible Senior Notes 2027
Debt Instrument [Line Items]
Principal amount	$ 306,500		306,500
Less unamortized discount, premium and debt issuance costs	$ (8,947)		(9,768)
Issuance senior notes, stated percentage	7.50%
Effective interest rate	8.29%
Senior Unsecured Notes - 6.00%, Due January 15, 2030
Debt Instrument [Line Items]
Principal amount	$ 700,000		700,000
Less unamortized discount, premium and debt issuance costs	$ (9,931)		(10,535)
Issuance senior notes, stated percentage	6%
Effective interest rate	6.27%
Senior Unsecured Notes - 6.50%, Due February 15, 2029
Debt Instrument [Line Items]
Principal amount	$ 1,110,000		1,110,000
Less unamortized discount, premium and debt issuance costs	$ (17,024)		(18,245)
Issuance senior notes, stated percentage	6.50%
Effective interest rate	6.83%
Senior Secured Revolving Credit Facility
Debt Instrument [Line Items]
Principal amount	$ 86,000		188,000
Less unamortized discount, premium and debt issuance costs	$ (6,272)		$ (3,616)

Notes and Other Debt - Addition

Notes and Other Debt - Additional Information (Details) $ in Thousands		3 Months Ended			6 Months Ended
	Feb. 14, 2023 USD ($)	Jun. 30, 2023 USD ($)	Mar. 31, 2023 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2023 USD ($) day	Jun. 30, 2022 USD ($)	Mar. 21, 2023 USD ($)	Dec. 31, 2022 USD ($)	Jun. 25, 2019
Debt Instrument [Line Items]
Debt instrument amount		$ 5,495,442			$ 5,495,442			$ 5,262,373
Debt instrument, covenant, lease default period threshold \| day					90
Gain (loss) on extinguishment of debt					$ (31,187)	$ 0
Interest expense		119,689		$ 96,377	268,552	192,549
Amortization of deferred financing costs		4,400		$ 4,300	9,200	$ 8,600
CSL Capital, LLC
Debt Instrument [Line Items]
Debt Instrument, debt default, amount		$ 75,000			$ 75,000
Maximum
Debt Instrument [Line Items]
Debt instrument, covenant, secured leverage ratio		5%			5%
Consolidated total leverage ratio		6.50%			6.50%
Maximum \| Pro Forma
Debt Instrument [Line Items]
Debt instrument, covenant, secured leverage ratio		4%			4%
Senior Secured Revolving Credit Facility
Debt Instrument [Line Items]
Debt instrument amount		$ 86,000			$ 86,000			188,000
Commitment fee percentage of average amount of unused commitments					0.50%
Commitment fee step-down percentage of average amount of unused commitments					0.40%
Senior Secured Revolving Credit Facility \| Base Rate
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate					1%
Senior Secured Notes - 10.50% Due February 15, 2028
Debt Instrument [Line Items]
Debt instrument amount		$ 2,600,000			$ 2,600,000			0
Issuance senior notes, stated percentage		10.50%			10.50%
Covenant, approval period	60 days
Senior Secured Notes - 10.50% Due February 15, 2028 \| Secured Debt
Debt Instrument [Line Items]
Issuance senior notes, stated percentage	10.50%
Debt instrument, face amount	$ 2,600,000
Issuance price, percentage	1
Redemption price, percentage	100%
Senior Secured Notes - 10.50% Due February 15, 2028 \| Secured Debt \| Debt Instrument, Redemption, Period One
Debt Instrument [Line Items]
Redemption price, percentage	103%
Redemption price, percentage of principal amount redeemed	0.10
Senior Secured Notes - 10.50% Due February 15, 2028 \| Secured Debt \| Debt Instrument, Redemption, Period Two
Debt Instrument [Line Items]
Redemption price, percentage	110.50%
Redemption price, percentage of principal amount redeemed	0.40
Senior Secured Notes - 10.50% Due February 15, 2028 \| Secured Debt \| Debt Instrument, Redemption, Period Three
Debt Instrument [Line Items]
Redemption price, percentage	101%
Redemption price, percentage of principal amount redeemed	0.60
4.75% Senior Secured Notes
Debt Instrument [Line Items]
Debt instrument amount		$ 570,000			$ 570,000			570,000
Issuance senior notes, stated percentage		4.75%			4.75%
6.50% Senior Unsecured Notes
Debt Instrument [Line Items]
Debt instrument amount		$ 1,110,000			$ 1,110,000			1,110,000
Issuance senior notes, stated percentage		6.50%			6.50%
Exchangeable Senior Notes - 4.00%, due June 15, 2024
Debt Instrument [Line Items]
Debt instrument amount		$ 122,942			$ 122,942			137,873
Issuance senior notes, stated percentage		4%			4%				4%
Gain (loss) on extinguishment of debt			$ 1,100
Repurchased face amount							$ 15,000
Debt instrument, repurchase amount							$ 13,700
Write off of deferred debt issuance cost			100
Senior Unsecured Notes - 6.00%, Due January 15, 2030
Debt Instrument [Line Items]
Debt instrument amount		$ 700,000			$ 700,000			700,000
Issuance senior notes, stated percentage		6%			6%
Convertible Senior Notes 2027
Debt Instrument [Line Items]
Debt instrument amount		$ 306,500			$ 306,500			306,500
Issuance senior notes, stated percentage		7.50%			7.50%
Extended Revolving Credit Facility
Debt Instrument [Line Items]
Debt instrument amount		$ 500,000			$ 500,000
Extended Revolving Credit Facility \| Maximum \| Base Rate
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate					3.50%
Extended Revolving Credit Facility \| Maximum \| Secured Overnight Financing Rate (SOFR)
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate					4.50%
Extended Revolving Credit Facility \| Minimum \| Base Rate
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate					2.75%
Extended Revolving Credit Facility \| Minimum \| Secured Overnight Financing Rate (SOFR)
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate					3.75%
7.875% Senior Secured Notes
Debt Instrument [Line Items]
Debt instrument amount		$ 0			$ 0			$ 2,250,000
Issuance senior notes, stated percentage	7.875%	7.875%			7.875%
7.875% Senior Secured Notes \| Secured Debt
Debt Instrument [Line Items]
Debt issuance costs, net			10,300
Interest expense			22,000
7.875% Senior Secured Notes \| Interest Expense \| Secured Debt
Debt Instrument [Line Items]
Gain (loss) on extinguishment of debt			$ (32,300)

Earnings Per Share - Schedule o

Earnings Per Share - Schedule of Earnings Per Share Basic and Diluted (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Numerator:
Net income attributable to shareholders	$ 25,626	$ 53,697	$ 6,424	$ 106,427
Less: Income allocated to participating securities	322	340	569	671
Dividends declared on convertible preferred stock	(5)	(5)	(10)	(10)
Net income attributable to common shareholders	$ 25,299	$ 53,352	$ 5,845	$ 105,746
Denominator:
Basic weighted-average common shares outstanding	236,429	235,656	236,260	235,352
Basic earnings per common share	$ 0.11	$ 0.23	$ 0.02	$ 0.45
Numerator:
Net income attributable to shareholders	$ 25,626	$ 53,697	$ 6,424	$ 106,427
Less: Income allocated to participating securities	(322)	(340)	(569)	(671)
Dividends declared on convertible preferred stock	(5)	(5)	(10)	(10)
Impact on if-converted dilutive securities	0	3,000	0	5,994
Net income attributable to common shares	$ 25,299	$ 56,352	$ 5,845	$ 111,740
Denominator:
Basic weighted-average common shares outstanding (in shares)	236,429	235,656	236,260	235,352
Effect of dilutive non-participating securities (in shares)	0	359	0	347
Impact on if-converted dilutive securities (in shares)	0	31,346	0	31,346
Weighted-average shares for dilutive earnings per common share	236,429	267,361	236,260	267,045
Dilutive (loss) earnings per common share (in dollars per share)	$ 0.11	$ 0.21	$ 0.02	$ 0.42

Earnings Per Share - Additional

Earnings Per Share - Additional Information (Details) - shares	3 Months Ended	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2023
Non-Participating Securities
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilution adjustments (in shares)	1,053,189	1,053,189
Convertible Debt Securities
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilution adjustments (in shares)	53,455,231	54,082,264

Segment Information - Additiona

Segment Information - Additional Information (Details)	6 Months Ended
Segment Information - Additional Information (Details)	Jun. 30, 2023 segment
Segment Reporting [Abstract]
Number of reportable business segments	2

Segment Information - Schedule

Segment Information - Schedule of Segment Reporting Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Segment Reporting Information [Line Items]
Revenues	$ 283,698	$ 283,975	$ 573,520	$ 562,009
Adjusted EBITDA	228,167	227,164	459,368	451,953
Interest expense	119,689	96,377	268,552	192,549
Depreciation and amortization	77,267	72,303	154,042	143,760
Transaction related and other costs	5,576	3,235	8,364	4,949
Gain on sale of real estate	0	(250)	0	(250)
Other, net	469	(7,495)	20,982	(7,134)
Stock-based compensation	3,130	3,201	6,260	6,513
Income tax (benefit) expense	(4,357)	4,944	(6,769)	2,873
Adjustments for equity in earnings from unconsolidated entities	755	1,075	1,510	2,061
Net income	25,638	53,774	6,427	106,632
Corporate
Segment Reporting Information [Line Items]
Adjusted EBITDA	(3,566)	(6,768)	(11,005)	(12,411)
Depreciation and amortization	14	37	30	73
Uniti Leasing
Segment Reporting Information [Line Items]
Revenues	212,453	205,614	423,261	410,255
Uniti Leasing \| Operating Segments
Segment Reporting Information [Line Items]
Revenues	212,453	205,614	423,261	410,255
Adjusted EBITDA	206,552	200,349	411,518	399,322
Depreciation and amortization	44,690	42,513	88,862	84,616
Uniti Fiber
Segment Reporting Information [Line Items]
Revenues	71,245	78,361	150,259	151,754
Uniti Fiber \| Operating Segments
Segment Reporting Information [Line Items]
Revenues	71,245	78,361	150,259	151,754
Adjusted EBITDA	25,181	33,583	58,855	65,042
Depreciation and amortization	$ 32,563	$ 29,753	$ 65,150	$ 59,071

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Millions				3 Months Ended	6 Months Ended	30 Months Ended
Commitments and Contingencies (Details) $ in Millions	Mar. 03, 2023 USD ($)	Mar. 25, 2022 USD ($)	Oct. 01, 2020 USD ($) installment day	Mar. 31, 2022 USD ($)	Jun. 30, 2023 USD ($)	Mar. 31, 2023 USD ($)
Commitments And Contingencies [Line Items]
Other commitment, reimbursement default period threshold \| day			30
Settlement expense		$ 38.9
Litigation settlement, amount awarded to other party	$ 0.8
SLF Holdings, LLC
Commitments And Contingencies [Line Items]
Settlement expense				$ 38.9
Insurance recovery for settlement expense				$ 38.9
Windstream Commitment
Commitments And Contingencies [Line Items]
Other commitment			$ 490.1
Number of installments \| installment			20
Percentage of committed purchase of assets			9%
First five quarterly cash payments to be made after emergence					$ 264.4
Windstream Commitment, Growth Capital Improvements
Commitments And Contingencies [Line Items]
Other commitment			$ 1,750
Growth capital improvements fund annual limit					250
Growth capital improvements reimbursement amount					158.8	$ 726.7
New lease, aggregate reimbursements made for certain growth capital improvements					35.1
Lease incentive					$ 0.7
Windstream Commitment, Growth Capital Improvements \| Maximum
Commitments And Contingencies [Line Items]
Other commitment, to be paid, year one			225
Other commitment, to be paid, year two			225
Other commitment, to be paid, year three			225
Other commitment, to be paid, year four			225
Other commitment, to be paid, year five			175
Other commitment, to be paid, year six			175
Other commitment, to be paid, year seven			125
Other commitment, to be paid, year eight			125
Other commitment, to be paid, year nine			125
Windstream Commitments, Growth Capital Improvements, Cost Reimbursements
Commitments And Contingencies [Line Items]
Other commitment			$ 70
Windstream Commitments, Equipment Loan and Security Agreements
Commitments And Contingencies [Line Items]
Accrued interest rate for borrowing			8%
Windstream Commitments, Equipment Loan and Security Agreements \| Maximum
Commitments And Contingencies [Line Items]
Other commitment			$ 125
New lease, aggregate reimbursements made for certain growth capital improvements			$ 25
Windstream
Commitments And Contingencies [Line Items]
Annual rent adjustment for Growth Capital Funding			8%
Rate used for rent percentage			100.50%
Maximum funding rights allocated per year upon transfer of interests under Windstream lease			$ 20

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	$ (2,324,175)	$ (2,092,022)	$ (2,271,206)	$ (2,113,774)
Other comprehensive income	0	2,829	0	5,659
Ending balance	(2,331,244)	(2,075,198)	(2,331,244)	(2,075,198)
Cash flow hedge changes in fair value
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(30,353)	(30,353)	(30,353)	(30,353)
Ending balance	(30,353)	(30,353)	(30,353)	(30,353)
Cash flow hedge changes in fair value \| Interest Rate Swap
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Other comprehensive income (loss), before reclassifications, net of tax	30,353	24,012	30,353	21,189
Amounts reclassified from accumulated other comprehensive income	0	2,829	0	5,659
Other comprehensive income	30,353	26,841	30,353	26,848
Accumulated Other Comprehensive Loss
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	0	(6,341)	0	(9,164)
Other comprehensive income		2,825		5,648
Ending balance	0	(3,516)	0	(3,516)
Interest rate swap termination, noncontrolling interest
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Other comprehensive income	0	4	0	11
Interest rate swap termination, parent
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Other comprehensive income	$ 30,353	$ 26,837	$ 30,353	$ 26,837