Crown Castle (CCI) 10-Q 5 Aug 22 2022 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2022	Aug. 02, 2022
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2022
Document Transition Report	false
Entity File Number	001-16441
Entity Registrant Name	CROWN CASTLE INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	76-0470458
Entity Address, Address Line One	8020 Katy Freeway
Entity Address, City or Town	Houston
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	77024
City Area Code	713
Local Phone Number	570-3000
Title of 12(b) Security	Common Stock, $0.01 par value
Trading Symbol	CCI
Security Exchange Name	NYSE
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		433,039,264
Entity Central Index Key	0001051470
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2
Amendment Flag	false
Entity Information, Former Legal or Registered Name	Crown Castle International Corp.

Condensed Consolidated Balance

Condensed Consolidated Balance Sheet - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Assets, Current [Abstract]
Cash and cash equivalents	$ 281	$ 292
Restricted cash, current	160	169
Receivables, net	516	543
Prepaid expenses	158	105
Other current assets	175	145
Assets, Current, Total	1,290	1,254
Deferred site rental receivables	1,796	1,588
Property and equipment, net of accumulated depreciation of $12,517 and $11,937, respectively	15,219	15,269
Operating lease right-of-use assets	6,663	6,682
Goodwill	10,087	10,078
Other intangible assets, net	3,822	4,046
Other assets, net	136	123
Assets, Total	39,013	39,040
Liabilities, Current [Abstract]
Accounts payable	230	246
Accrued interest	180	182
Deferred revenues	701	776
Other accrued liabilities	342	401
Current maturities of debt and other obligations	70	72
Current portion of operating lease liabilities	348	349
Liabilities, Current, Total	1,871	2,026
Debt and other long-term obligations	21,212	20,557
Operating lease liabilities	6,017	6,031
Other long-term liabilities	2,052	2,168
Liabilities, Total	$ 31,152	$ 30,782
Common stock, par value	$ 0.01	$ 0.01
Stockholders' Equity Attributable to Parent [Abstract]
Common Stock, Value, Issued	$ 4	$ 4
Additional Paid in Capital	18,050	18,011
Accumulated Other Comprehensive Income (Loss), Net of Tax	(5)	(4)
Retained Earnings (Accumulated Deficit)	(10,188)	(9,753)
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest, Total	7,861	8,258
Liabilities and Equity, Total	$ 39,013	$ 39,040

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheet (Parenthetical) - USD ($) shares in Millions, $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Condensed Consolidated Balance Sheet (Parenthetical) [Abstract]
Accumulated depreciation, property and equipment	$ 12,517	$ 11,937
Common stock, shares outstanding	433	432
Common stock, shares authorized	1,200	1,200
Common stock, par value	$ 0.01	$ 0.01

Condensed Consolidated Statemen

Condensed Consolidated Statement of Operations and Comprehensive Income (Loss) - USD ($) shares in Millions, $ in Millions		3 Months Ended				6 Months Ended
		Jun. 30, 2022		Jun. 30, 2021		Jun. 30, 2022		Jun. 30, 2021
Net revenues:
Site Rental		$ 1,567		$ 1,425		$ 3,143		$ 2,794
Services and other		167		158		333		274
Net Revenues		1,734		1,583		3,476		3,068
Operating expenses:
Site rental	[1]	402		389		798		770
Services and other	[1]	112		105		225		186
Selling, general and administrative		190		169		371		333
Asset write-down charges		9		6		23		9
Acquisition and integration costs		1		1		1		1
Depreciation, amortization and accretion		427		408		847		816
Total operating expenses		1,141		1,078		2,265		2,115
Operating income (loss)		593		505		1,211		953
Interest expense and amortization of deferred financing costs		(165)		(161)		(329)		(330)
Gains (losses) on retirement of long-term obligations		0		(1)		(26)	[2]	(144)
Interest income		0		1		1		1
Other income (expense)		(2)		(5)		(4)		(12)
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest		426		339		853		468
Benefit (provision) for income taxes		(5)		(6)		(11)		(13)
Income (loss) from continuing operations		421		333		842		455
Net gain (loss) from disposal of discontinued operations, net of tax		0		1		0		(62)
Income (loss) from discontinued operations, net of tax		0		1		0		(62)
Net income (loss)		421		334		842		393
Foreign currency translation adjustments		(2)	[3]	$ 1	[3]	(1)	[3]	2
Total other comprehensive income (loss)		$ (2)				$ (1)		$ 2
Income (loss) from continuing operations, per share - basic		$ 0.97		$ 0.77		$ 1.95		$ 1.05
Income (loss) from discontinued operations, per share - basic		0		0		0		(0.14)
Income (loss) from continuing operations, per share - diluted		0.97		0.77		1.94		1.04
Income (loss) from discontinued operations, per share - diluted		$ 0		$ 0		$ 0		$ (0.14)
Weighted-average common shares outstanding, basic		433		432		433		432
Weighted-average common shares outstanding, diluted		434		434		434		434
Comprehensive Income (Loss), Net of Tax, Attributable to Parent		$ 419		$ 335		$ 841		$ 395
[1]Exclusive of depreciation, amortization and accretion shown separately.[2]Inclusive of the write off of respective deferred financing costs.[3]See the condensed consolidated statement of operations and other comprehensive income (loss) for the components of other comprehensive income (loss).

Condensed Consolidated Statem_2

Condensed Consolidated Statement of Cash Flows - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2022		Jun. 30, 2021
Cash flows from operating activities:
Income (loss) from continuing operations	$ 842		$ 455
Adjustments to reconcile net income (loss) from continuing operations to net cash provided by (used for) operating activities:
Depreciation, amortization and accretion	847		816
Gains (losses) on retirement of long-term obligations	26	[1]	144
Amortization of deferred financing costs and other non-cash interest, net	7		6
Stock-based compensation expense	83		67
Asset write-down charges	23		9
Deferred income tax (benefit) provision	1		3
Other non-cash adjustments, net	3		14
Changes in assets and liabilities, excluding the effects of acquisitions:
Increase (decrease) in accrued interest	(2)		(20)
Increase (decrease) in accounts payable	(8)		7
Increase (decrease) in other liabilities	(222)		(43)
Decrease (increase) in receivables	28		(3)
Decrease (increase) in other assets	(291)		(84)
Net cash provided by (used for) operating activities	1,337		1,371
Cash flows from investing activities:
Capital expenditures	(584)		(609)
Payments for acquisitions, net of cash acquired	(15)		(15)
Other investing activities, net	(10)		8
Net cash provided by (used for) investing activities	(609)		(616)
Cash flows from financing activities:
Proceeds from issuance of long-term debt	748		3,985
Principal payments on debt and other long-term obligations	(36)		(1,038)
Purchases and redemptions of long-term debt	(1,274)		(1,789)
Borrowings under revolving credit facility	2,050		580
Payments under revolving credit facility	(1,565)		(870)
Net issuances (repayments) under commercial paper program	687		(210)
Payments for financing costs	(8)		(39)
Purchases of common stock	(63)		(68)
Dividends/distributions paid on common stock	(1,287)		(1,163)
Net cash provided by (used for) financing activities	(748)		(612)
Net increase (decrease) in cash, cash equivalents, and restricted cash	(20)		143
Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	0		1
Cash, cash equivalents and restricted cash at beginning of period	466		381
Cash, cash equivalents and restricted cash at end of period	$ 446		$ 525
[1]Inclusive of the write off of respective deferred financing costs.

Condensed Consolidated Statem_3

Condensed Consolidated Statement of Equity - USD ($) shares in Millions, $ in Millions		Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Foreign Currency Adjustment Attributable to Parent [Member]		Dividends/Distributions in Excess of Earnings [Member]
Balance, shares Period Start at Dec. 31, 2020			431
Balance, value Period Start at Dec. 31, 2020		$ 9,461	$ 4	$ 17,933	$ (4)		$ (8,472)
Stock-based compensation related activity, net of forfeitures, value		86	$ 1	86
Purchases and retirement of common stock, value		(68)		(68)
Common stock dividends/distributions		(1,161)					1,161
Net income (loss)		393					393
Balance, shares Period End at Jun. 30, 2021			432
Balance, value Period End at Jun. 30, 2021		8,713	$ 4	17,951	(2)		(9,240)
Total other comprehensive income (loss)		2			2
Foreign currency translation adjustments		2
Balance, shares Period Start at Mar. 31, 2021			432
Balance, value Period Start at Mar. 31, 2021		8,923	$ 4	17,917	(3)		(8,995)
Stock-based compensation related activity, net of forfeitures, value		35	$ 0	35
Purchases and retirement of common stock, value		(1)		(1)
Common stock dividends/distributions	[1]	(579)					579
Net income (loss)		334					334
Balance, shares Period End at Jun. 30, 2021			432
Balance, value Period End at Jun. 30, 2021		8,713	$ 4	17,951	(2)		(9,240)
Total other comprehensive income (loss)	[2]				1
Foreign currency translation adjustments	[2]	$ 1
Balance, shares Period Start at Dec. 31, 2021		432	432
Balance, value Period Start at Dec. 31, 2021		$ 8,258	$ 4	18,011	(4)		(9,753)
Stock-based compensation related activity, net of forfeitures, value		102	$ 1	102
Purchases and retirement of common stock, value		(63)		(63)
Common stock dividends/distributions	[1]	(1,277)					1,277
Net income (loss)		$ 842					842
Balance, shares Period End at Jun. 30, 2022		433	433
Balance, value Period End at Jun. 30, 2022		$ 7,861	$ 4	18,050	(5)		(10,188)
Total other comprehensive income (loss)		(1)			(1)	[2]
Foreign currency translation adjustments	[2]	(1)
Balance, shares Period Start at Mar. 31, 2022			433
Balance, value Period Start at Mar. 31, 2022		8,036	$ 4	18,006	(3)		(9,971)
Stock-based compensation related activity, net of forfeitures, value		45		45
Purchases and retirement of common stock, value		(1)		(1)
Common stock dividends/distributions	[1]	(638)					638
Net income (loss)		$ 421					421
Balance, shares Period End at Jun. 30, 2022		433	433
Balance, value Period End at Jun. 30, 2022		$ 7,861	$ 4	$ 18,050	(5)		$ (10,188)
Total other comprehensive income (loss)		(2)			$ (2)	[2]
Foreign currency translation adjustments	[2]	$ (2)
[1]See note 7 for information regarding common dividends declared per share.[2]See the condensed consolidated statement of operations and other comprehensive income (loss) for the components of other comprehensive income (loss).

General

General	6 Months Ended
	Jun. 30, 2022
General
General	General The information contained in the following notes to the condensed consolidated financial statements is condensed from that which would appear in the annual consolidated financial statements; accordingly, the condensed consolidated financial statements included herein should be reviewed in conjunction with the consolidated financial statements for the fiscal year ended December 31, 2021, and related notes thereto, included in the 2021 Form 10-K filed by Crown Castle Inc. ("CCI") (formerly, Crown Castle International Corp.) with the SEC. Capitalized terms used but not defined in these notes to the condensed consolidated financial statements have the same meaning given to them in the 2021 Form 10-K. References to the "Company" refer to CCI and its predecessor, as applicable, and their subsidiaries, unless otherwise indicated or the context indicates otherwise. As used herein, the term "including," and any variation thereof means "including without limitation." The use of the word "or" herein is not exclusive. Unless the context suggests otherwise, references to "U.S." are to the United States of America and Puerto Rico, collectively. The Company owns, operates and leases shared communications infrastructure that is geographically dispersed throughout the U.S., including (1) towers and other structures, such as rooftops (collectively, "towers"), and (2) fiber primarily supporting small cell networks ("small cells") and fiber solutions. The Company's towers, fiber and small cells assets are collectively referred to herein as "communications infrastructure," and the Company's customers on its communications infrastructure are referred to herein as "tenants." The Company's core business is providing access, including space or capacity, to its shared communications infrastructure via long-term contracts in various forms, including lease, license, sublease and service agreements (collectively, "tenant contracts"). The Company's operating segments consist of (1) Towers and (2) Fiber. See note 10. As part of the Company's effort to provide comprehensive communications infrastructure solutions, as an ancillary business, the Company also offers certain services primarily relating to its Towers segment, predominately consisting of (1) site development services primarily relating to existing or new tenant equipment installations, including: site acquisition, architectural and engineering, or zoning and permitting (collectively, "site development services") and (2) tenant equipment installation or subsequent augmentations (collectively, "installation services"). The Company operates as a REIT for U.S. federal income tax purposes. In addition, the Company has certain taxable REIT subsidiaries ("TRSs"). See note 6. Approximately 53% of the Company's towers are leased or subleased or operated and managed under master leases, subleases, and other agreements with AT&T and T-Mobile. The Company has the option to purchase these towers at the end of their respective lease terms. The Company has no obligation to exercise such purchase options. Basis of Presentation The condensed consolidated financial statements included herein are unaudited; however, they include all adjustments (consisting only of normal recurring adjustments) which, in the opinion of management, are necessary to state fairly the condensed consolidated financial position of the Company at June 30, 2022, the condensed consolidated results of operations for the three and six months ended June 30, 2022 and 2021, and the condensed consolidated cash flows for the six months ended June 30, 2022 and 2021. The year-end condensed consolidated balance sheet data was derived from audited financial statements, but does not include all disclosures required by GAAP. The results of operations for the interim periods presented are not necessarily indicative of the results to be expected for the full year. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities as of the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Significant Accounting Policies	Summary of Significant Accounting Policies Recently Adopted Accounting Pronouncements No accounting pronouncements adopted during the six months ended June 30, 2022 had a material impact on the Company's condensed consolidated financial statements. Recent Accounting Pronouncements Not Yet Adopted No new accounting pronouncements issued but not yet adopted are expected to have a material impact on the Company's condensed consolidated financial statements.

Revenues (Notes)

Revenues (Notes)	6 Months Ended
	Jun. 30, 2022
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer [Text Block]	Revenues Site Rental Revenues The Company generates site rental revenues from its core business by providing tenants with access, including space or capacity, to its shared communications infrastructure via long-term tenant contracts in various forms, including lease, license, sublease and service agreements. Providing such access over the length of the tenant contract term represents the Company’s sole performance obligation under its tenant contracts. Site rental revenues from the Company's tenant contracts are recognized on a straight-line, ratable basis over the fixed, non-cancelable term of the relevant tenant contract, which generally ranges from five to 15 years for wireless tenants and three to 20 years for the Company's fiber solutions tenants (including from organizations with high-bandwidth and multi-location demands), regardless of whether the payments from the tenant are received in equal monthly amounts during the life of the tenant contract. Certain of the Company's tenant contracts contain (1) fixed escalation clauses (such as fixed dollar or fixed percentage increases) or inflation-based escalation clauses (such as those tied to the CPI), (2) multiple renewal periods exercisable at the tenant's option and (3) only limited termination rights at the applicable tenant's option through the current term. If the payment terms call for fixed escalations, upfront payments, or rent-free periods, the revenue is recognized on a straight-line basis over the fixed, non-cancelable term of the agreement. When calculating its straight-line rental revenues, the Company considers all fixed elements of tenant contractual escalation provisions, even if such escalation provisions contain a variable element in addition to a minimum. The Company's assets related to straight-line site rental revenues include current amounts of $111 million included in "Other current assets" and non-current amounts of $1.8 billion included in "Deferred site rental receivables" as of June 30, 2022. Amounts billed or received prior to being earned are deferred and reflected in "Deferred revenues" and "Other long-term liabilities." Amounts to which the Company has an unconditional right to payment, which are related to both satisfied or partially satisfied performance obligations, are recorded within "Receivables, net" on the Company's condensed consolidated balance sheet. Services and Other Revenues As part of the Company’s effort to provide comprehensive communications infrastructure solutions, as an ancillary business, the Company offers certain services primarily relating to its Towers segment, predominately consisting of (1) site development services and (2) installation services. Upon contract commencement, the Company assesses its services to tenants and identifies performance obligations for each promise to provide a distinct service. The Company may have multiple performance obligations for site development services, which primarily include: structural analysis, zoning, permitting and construction drawings. For each of these performance obligations, services revenues are recognized at completion of the applicable performance obligation, which represents the point at which the Company believes it has transferred goods or services to the tenant. The revenue recognized is based on an allocation of the transaction price among the performance obligations in a respective contract based on estimated standalone selling price. The volume and mix of site development services may vary among contracts and may include a combination of some or all of the above performance obligations. Payments generally are due within 45 to 60 days and generally do not contain variable-consideration provisions. The transaction price for the Company's tower installation services consists of amounts for (1) permanent improvements to the Company's towers that represent a lease component and (2) the performance of the service. Amounts under the Company's tower installation service agreements that represent a lease component are recognized as site rental revenues on a straight-line basis over the length of the associated estimated lease term. For the performance of the installation service, the Company has one performance obligation, which is satisfied at the time of the applicable installation or augmentation and recognized as services and other revenues. Since performance obligations are typically satisfied prior to receiving payment from tenants, the unconditional right to payment is recorded within "Receivables, net" on the Company’s condensed consolidated balance sheet. The vast majority of the Company’s services generally have a duration of one year or less. Additional Information on Revenues As of January 1, 2022 and June 30, 2022, $2.6 billion and $2.5 billion, respectively, of unrecognized revenue was reported in "Deferred revenues" and "Other long-term liabilities" on the Company's condensed consolidated balance sheet. During the six months ended June 30, 2022, approximately $350 million of the January 1, 2022 unrecognized revenue balance was recognized as revenue. During the six months ended June 30, 2021, approximately $315 million of the January 1, 2021 unrecognized revenue balance was recognized as revenue. The following table is a summary of the non-cancelable contracted amounts owed to the Company by tenants pursuant to tenant contracts in effect as of June 30, 2022. Six Months Ending December 31, Years Ending December 31, 2022 2023 2024 2025 2026 Thereafter Total Contracted amounts (a) $ 2,390 $ 4,691 $ 4,253 $ 3,935 $ 3,871 $ 22,617 $ 41,757 (a) Based on the nature of the contract, tenant contracts are accounted for pursuant to relevant lease accounting (ASC 842) or revenue accounting (ASC 606) guidance. Excludes amounts related to services, as those contracts generally have a duration of one year or less. See note 10 for further information regarding the Company's operating segments.

Debt and Other Obligations

Debt and Other Obligations	6 Months Ended
	Jun. 30, 2022
Debt and Other Obligations [Abstract]
Debt and Other Obligations	Debt and Other Obligations See note 12 for a discussion of the July 2022 amendment to the Credit Agreement governing the Company's 2016 Credit Facility ("2022 Credit Agreement Amendment"). The table below sets forth the Company's debt and other obligations as of June 30, 2022. Original Final Maturity Date (a) Balance as of Balance as of Stated Interest Rate as of June 30, 2022 (a) 3.849% Secured Notes Dec. 2012 Apr. 2023 (h) $ — $ 998 N/A Secured Notes, Series 2009-1, Class A-2 July 2009 Aug. 2029 50 53 9.0 % Tower Revenue Notes, Series 2018-1 July 2018 July 2043 (h) — 249 N/A Tower Revenue Notes, Series 2015-2 May 2015 May 2045 (b) 697 696 3.7 % Tower Revenue Notes, Series 2018-2 July 2018 July 2048 (b) 745 744 4.2 % Finance leases and other obligations Various Various (c) 235 242 Various (c) Total secured debt $ 1,727 $ 2,982 2016 Revolver Jan. 2016 June 2026 $ 1,150 (d) $ 665 2.7 % (e) 2016 Term Loan A Jan. 2016 June 2026 1,207 1,222 2.7 % (e) Commercial Paper Notes Various (f) Various (f) 952 (f) 265 2.4 % 3.150% Senior Notes Jan. 2018 July 2023 748 747 3.2 % 3.200% Senior Notes Aug. 2017 Sept. 2024 747 747 3.2 % 1.350% Senior Notes June 2020 July 2025 496 496 1.4 % 4.450% Senior Notes Feb. 2016 Feb. 2026 896 895 4.5 % 3.700% Senior Notes May 2016 June 2026 747 746 3.7 % 1.050% Senior Notes Feb. 2021 July 2026 991 990 1.1 % 4.000% Senior Notes Feb. 2017 Mar. 2027 497 496 4.0 % 2.900% Senior Notes Mar. 2022 Mar. 2027 (g) 741 — 2.9 % 3.650% Senior Notes Aug. 2017 Sept. 2027 995 995 3.7 % 3.800% Senior Notes Jan. 2018 Feb. 2028 993 992 3.8 % 4.300% Senior Notes Feb. 2019 Feb. 2029 594 593 4.3 % 3.100% Senior Notes Aug. 2019 Nov. 2029 545 545 3.1 % 3.300% Senior Notes Apr. 2020 July 2030 739 738 3.3 % 2.250% Senior Notes June 2020 Jan. 2031 1,090 1,089 2.3 % 2.100% Senior Notes Feb. 2021 Apr. 2031 988 988 2.1 % 2.500% Senior Notes June 2021 July 2031 741 741 2.5 % 2.900% Senior Notes Feb. 2021 Apr. 2041 1,233 1,233 2.9 % 4.750% Senior Notes May 2017 May 2047 344 344 4.8 % 5.200% Senior Notes Feb. 2019 Feb. 2049 395 395 5.2 % 4.000% Senior Notes Aug. 2019 Nov. 2049 346 345 4.0 % 4.150% Senior Notes Apr. 2020 July 2050 490 490 4.2 % 3.250% Senior Notes June 2020 Jan. 2051 890 890 3.3 % Total unsecured debt $ 19,555 $ 17,647 Total debt and other obligations 21,282 20,629 Less: current maturities and short-term debt and other current obligations 70 72 Non-current portion of long-term debt and other long-term obligations $ 21,212 $ 20,557 (a) See the 2021 Form 10-K, including note 7 to the consolidated financial statements, for additional information regarding the maturity and principal amortization provisions and interest rates relating to the Company's indebtedness. (b) If the respective series of Tower Revenue Notes are not paid in full on or prior to an applicable anticipated repayment date, then Excess Cash Flow (as defined in the indenture) of the issuers of such notes will be used to repay principal of the applicable series and class of the Tower Revenue Notes, and additional interest (of an additional approximately 5% per annum) will accrue on the respective Tower Revenue Notes. As of June 30, 2022, the Tower Revenue Notes, Series 2015-2 and Series 2018-2 have principal amounts of $700 million and $750 million, with anticipated repayment dates in 2025 and 2028, respectively. (c) The Company's finance leases and other obligations relate to land, fiber, vehicles, and other assets and bear interest rates ranging up to 10% and mature in periods ranging from less than one year to approximately 25 years. (d) As of June 30, 2022, the undrawn availability under the 2016 Revolver was $3.8 billion. (e) Both the 2016 Revolver and 2016 Term Loan A bore interest, at the Company's option, at either (1) LIBOR plus a credit spread ranging from 0.875% to 1.750% per annum or (2) an alternate base rate plus a credit spread ranging from 0.000% to 0.750% per annum, in each case, with the applicable credit spread based on the Company's senior unsecured debt rating. The Company paid a commitment fee ranging from 0.080% to 0.300%, based on the Company's senior unsecured debt rating, per annum on the undrawn available amount under the 2016 Revolver. See the 2021 Form 10-K, including note 7 to the consolidated financial statements, for information regarding potential adjustments to such percentages. (f) In March 2022, the Company increased the size of its CP Program to permit the issuance of Commercial Paper Notes in an aggregate principal amount not to exceed $2.0 billion at any time outstanding. Notes under the CP Program may be issued, repaid and re-issued from time to time. The net proceeds of the Commercial Paper Notes are expected to be used for general corporate purposes. The maturities of the Commercial Paper Notes, when outstanding, may vary but may not exceed 397 days from the date of issue. The Commercial Paper Notes are issued under customary terms in the commercial paper market and are issued at a discount from par or, alternatively, can be issued at par and bear varying interest rates on a fixed or floating basis. As of June 30, 2022, the Company had net issuances of $952 million under the CP Program. At any point in time, the Company intends to maintain available commitments under its 2016 Revolver in an amount at least equal to the amount of Commercial Paper Notes outstanding. While any outstanding Commercial Paper Notes generally have short-term maturities, the Company classifies the outstanding issuances, when applicable, as long-term based on its ability and intent to refinance the outstanding issuances on a long-term basis. (g) In March 2022, the Company issued $750 million aggregate principal amount of 2.900% senior unsecured notes due 2027 ("March 2022 Senior Notes"). The Company used the net proceeds from the March 2022 Senior Notes offering to repay a portion of the outstanding indebtedness under its CP Program and pay related fees and expenses. (h) In March 2022, the Company (1) prepaid in full the previously outstanding Tower Revenue Notes, Series 2018-1 and (2) redeemed in full the previously outstanding 3.849% Secured Notes. Scheduled Principal Payments and Final Maturities The following are the scheduled principal payments and final maturities of the total debt and other long-term obligations of the Company outstanding as of June 30, 2022, which do not consider the principal payments that will commence following the anticipated repayment dates on the Tower Revenue Notes. Six Months Ending Years Ending December 31, Total Cash Obligations Unamortized Adjustments, Net Total Debt and Other Obligations Outstanding 2022 2023 2024 2025 2026 Thereafter Scheduled principal payments and final maturities $ 992 (a) $ 841 $ 844 $ 638 $ 4,795 (b)(c) $ 13,335 (b) $ 21,445 $ (163) $ 21,282 (a) Predominately consists of outstanding indebtedness under the CP Program (as discussed in footnote (f) above). (b) Certain previously-reported amounts within the 2026 and Thereafter columns have been adjusted. There was no impact to the amount shown in the previously-reported Total Cash Obligations column. (c) Inclusive of outstanding borrowings under the 2016 Credit Facility as of June 30, 2022. See note 12 for a discussion of the 2022 Credit Agreement Amendment. Purchases and Redemptions of Long-Term Debt The following is a summary of purchases and redemptions of long-term debt during the six months ended June 30, 2022. Principal Amount Cash Paid (a) Gains (Losses) (b) Tower Revenue Notes, Series 2018-1 $ 250 $ 252 $ (3) 3.849% Secured Notes 1,000 1,022 (23) Total $ 1,250 $ 1,274 $ (26) (a) Exclusive of accrued interest. (b) Inclusive of the write off of respective deferred financing costs. Interest Expense and Amortization of Deferred Financing Costs The components of interest expense and amortization of deferred financing costs are as follows: Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Interest expense on debt obligations $ 161 $ 157 $ 322 $ 324 Amortization of deferred financing costs and adjustments on long-term debt 7 7 13 13 Capitalized interest (3) (3) (6) (7) Total $ 165 $ 161 $ 329 $ 330

Fair Value Disclosures

Fair Value Disclosures	6 Months Ended
	Jun. 30, 2022
Fair Value Disclosures [Abstract]
Fair Value Disclosures	Fair Value Disclosures Level in Fair Value Hierarchy June 30, 2022 December 31, 2021 Carrying Fair Carrying Fair Assets: Cash and cash equivalents 1 $ 281 $ 281 $ 292 $ 292 Restricted cash, current and non-current 1 165 165 174 174 Liabilities: Total debt and other obligations 2 21,282 19,442 20,629 21,588

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company operates as a REIT for U.S. federal income tax purposes. As a REIT, the Company is generally entitled to a deduction for dividends that it pays and therefore is not subject to U.S. federal corporate income tax on its net taxable income that is currently distributed to its stockholders. The Company also may be subject to certain federal, state, local and foreign taxes on its income and assets, including (1) taxes on any undistributed income, (2) taxes related to the TRSs, (3) franchise taxes, (4) property taxes, and (5) transfer taxes. In addition, the Company could under certain circumstances be required to pay an excise or penalty tax, which could be significant in amount, in order to utilize one or more relief provisions under the Internal Revenue Code of 1986, as amended, to maintain qualification for taxation as a REIT. The Company's TRS assets and operations will continue to be subject, as applicable, to federal and state corporate income taxes or to foreign taxes in the jurisdictions in which such assets and operations are located. The Company's foreign assets and operations (including its tower operations in Puerto Rico) are subject to foreign income taxes in the jurisdictions in which such assets and operations are located, regardless of whether they are included in a TRS or not. For the six months ended June 30, 2022 and 2021, the Company's effective tax rate differed from the federal statutory rate predominately due to the Company's REIT status, including the dividends paid deduction.

Per Share Information

Per Share Information	6 Months Ended
	Jun. 30, 2022
Earnings Per Share [Abstract]
Per Share Information	Per Share InformationBasic net income (loss), per common share, excludes dilution and is computed by dividing net income (loss) by the weighted-average number of common shares outstanding during the period. For the three and six months ended June 30, 2022 and 2021, diluted net income (loss), per common share, is computed by dividing net income (loss) by the weighted-average number of common shares outstanding during the period, plus any potential dilutive common share equivalents, including shares issuable upon the vesting of restricted stock units as determined under the treasury stock method. Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Income (loss) from continuing operations for basic and diluted computations $ 421 $ 333 $ 842 $ 455 Income (loss) from discontinued operations, net of tax — 1 $ — $ (62) Net income (loss) $ 421 $ 334 $ 842 $ 393 Weighted-average number of common shares outstanding (in millions): Basic weighted-average number of common stock outstanding 433 432 433 432 Effect of assumed dilution from potential issuance of common shares relating to restricted stock units 1 2 1 2 Diluted weighted-average number of common shares outstanding 434 434 434 434 Net income (loss), per common share: Income (loss) from continuing operations, basic $ 0.97 $ 0.77 $ 1.95 $ 1.05 Income (loss) from discontinued operations, basic — — — (0.14) Net income (loss)—basic $ 0.97 $ 0.77 $ 1.95 $ 0.91 Income (loss) from continuing operations, diluted $ 0.97 $ 0.77 $ 1.94 $ 1.04 Income (loss) from discontinued operations, diluted — — — (0.14) Net income (loss)—diluted $ 0.97 $ 0.77 $ 1.94 $ 0.90 Dividends/distributions declared per share of common stock $ 1.47 $ 1.33 $ 2.94 $ 2.66

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Durham Lawsuits The Company has received notices of claims and has been named as one of several defendants in lawsuits stemming from an April 2019 gas leak explosion in Durham, North Carolina, which occurred near an area where the Company's subcontractors were installing fiber. The explosion resulted in two fatalities, physical injuries (some of which were serious), and property damage to surrounding buildings and businesses. Currently, the Company is unable to determine the likelihood of an outcome or estimate a range of possible losses, if any, related to these lawsuits. Other Matters

Equity

Equity	6 Months Ended
	Jun. 30, 2022
Equity [Abstract]
Equity	Equity Declaration and Payment of Dividends During the six months ended June 30, 2022, the following dividends/distributions were declared or paid: Equity Type Declaration Date Record Date Payment Date Dividends Per Share Aggregate Payment Amount (a) Common Stock February 8, 2022 March 15, 2022 March 31, 2022 $ 1.47 $ 639 Common Stock May 9, 2022 June 15, 2022 June 30, 2022 $ 1.47 $ 638 (a) Inclusive of dividends accrued for holders of unvested restricted stock units, which will be paid when and if the restricted stock units vest. Purchases of the Company's Common Stock For the six months ended June 30, 2022, the Company purchased 0.4 million shares of its common stock utilizing $63 million in cash. The shares of common stock purchased relate to shares withheld in connection with the payment of withholding taxes upon vesting of restricted stock units. 2021 "At-the-Market" Stock Offering Program In March 2021, the Company established an "at-the-market" stock offering program through which it may issue and sell shares of its common stock having an aggregate gross sales price of up to $750 million ("2021 ATM Program"). Sales under the 2021 ATM Program may be made by means of ordinary brokers' transactions on the NYSE or otherwise at market prices prevailing at the time of sale, at prices related to prevailing market prices or, subject to the Company's specific instructions, at negotiated prices. The Company intends to use the net proceeds from any sales under the 2021 ATM Program for general corporate purposes, which may include (1) the funding of future acquisitions or investments or (2) the repayment or repurchase of any outstanding indebtedness. The Company has not sold any shares of common stock under the 2021 ATM Program.

Operating Segments

Operating Segments	6 Months Ended
	Jun. 30, 2022
Segment Reporting [Abstract]
Operating Segments	Operating Segments The Company's operating segments consist of (1) Towers and (2) Fiber. The Towers segment provides access, including space or capacity, to the Company's more than 40,000 towers geographically dispersed throughout the U.S. The Towers segment also reflects certain ancillary services relating to the Company's towers, predominately consisting of site development services and installation services. The Fiber segment provides access, including space or capacity, to the Company's approximately 85,000 route miles of fiber primarily supporting small cell networks and fiber solutions geographically dispersed throughout the U.S. The measurements of profit or loss used by the Company's chief operating decision maker ("CODM") to evaluate the performance of its operating segments are (1) segment site rental gross margin, (2) segment services and other gross margin and (3) segment operating profit. The Company defines segment site rental gross margin as segment site rental revenues less segment site rental costs of operations, excluding stock-based compensation expense and amortization of prepaid lease purchase price adjustments recorded in consolidated site rental costs of operations. The Company defines segment services and other gross margin as segment services and other revenues less segment services and other costs of operations, excluding stock-based compensation expense recorded in consolidated services and other costs of operations. The Company defines segment operating profit as segment site rental gross margin plus segment services and other gross margin, and segment other operating (income) expense, less selling, general and administrative expenses attributable to the respective segment. All of these measurements of profit or loss are exclusive of depreciation, amortization and accretion, which are shown separately. The following tables set forth the Company's segment operating results for the three and six months ended June 30, 2022 and 2021. Costs that are directly attributable to Towers and Fiber are assigned to those respective segments. Additionally, certain costs are shared across segments and are reflected in the Company's segment measures through allocations that management believes to be reasonable. The "Other" column (1) represents amounts excluded from specific segments, such as asset write-down charges, acquisition and integration costs, depreciation, amortization and accretion, amortization of prepaid lease purchase price adjustments, interest expense and amortization of deferred financing costs, gains (losses) on retirement of long-term obligations, interest income, other income (expense), income (loss) from discontinued operations, and stock-based compensation expense, and (2) reconciles segment operating profit to income (loss) before income taxes, as the amounts are not utilized in assessing each segment’s performance. The "Other" total assets balance includes corporate assets such as cash and cash equivalents which have not been allocated to specific segments. There are no significant revenues resulting from transactions between the Company's operating segments. Three Months Ended June 30, 2022 Three Months Ended June 30, 2021 Towers Fiber Other Consolidated Towers Fiber Other Consolidated Segment site rental revenues $ 1,078 $ 489 $ 1,567 $ 952 $ 473 $ 1,425 Segment services and other revenues 164 3 167 154 4 158 Segment revenues 1,242 492 1,734 1,106 477 1,583 Segment site rental costs of operations 232 162 394 221 161 382 Segment services and other costs of operations 107 2 109 100 3 103 Segment costs of operations (a)(b) 339 164 503 321 164 485 Segment site rental gross margin 846 327 1,173 731 312 1,043 Segment services and other gross margin 57 1 58 54 1 55 Segment selling, general and administrative expenses (b) 28 46 74 26 44 70 Segment operating profit (loss) 875 282 1,157 759 269 1,028 Other selling, general and administrative expenses $ 79 79 $ 70 70 Stock-based compensation expense 44 44 34 34 Depreciation, amortization and accretion 427 427 408 408 Interest expense and amortization of deferred financing costs 165 165 161 161 Other (income) expenses to reconcile to income (loss) before income taxes (c) 16 16 16 16 Income (loss) before income taxes $ 426 $ 339 Capital expenditures $ 45 $ 247 $ 11 $ 303 $ 63 $ 235 $ 10 $ 308 Total assets (at period end) $ 22,286 $ 15,859 $ 868 $ 39,013 $ 22,207 $ 15,771 $ 995 $ 38,973 (a) Exclusive of depreciation, amortization and accretion shown separately. (b) Segment costs of operations excludes (1) stock-based compensation of $7 million and $5 million for the three months ended June 30, 2022 and 2021, respectively and (2) prepaid lease purchase price adjustments of $4 million for each of the three months ended June 30, 2022 and 2021. Selling, general and administrative expenses exclude stock-based compensation expense of $37 million and $29 million for the three months ended June 30, 2022 and 2021, respectively. (c) See condensed consolidated statement of operations for further information. Six Months Ended June 30, 2022 Six Months Ended June 30, 2021 Towers Fiber Other Consolidated Towers Fiber Other Consolidated Segment site rental revenues $ 2,153 $ 990 $ 3,143 $ 1,847 $ 947 $ 2,794 Segment services and other revenues 327 6 333 265 9 274 Segment revenues 2,480 996 3,476 2,112 956 3,068 Segment site rental costs of operations 458 323 781 433 322 755 Segment services and other costs of operations 216 4 220 175 6 181 Segment costs of operations (a)(b) 674 327 1,001 608 328 936 Segment site rental gross margin 1,695 667 2,362 1,414 625 2,039 Segment services and other gross margin 111 2 113 90 3 93 Segment selling, general and administrative expenses (b) 56 93 149 51 89 140 Segment operating profit (loss) 1,750 576 2,326 1,453 539 1,992 Other selling, general and administrative expenses $ 153 153 $ 136 136 Stock-based compensation expense 83 83 68 68 Depreciation, amortization and accretion 847 847 816 816 Interest expense and amortization of deferred financing costs 329 329 330 330 Other (income) expenses to reconcile to income (loss) before income taxes (c) 61 61 174 174 Income (loss) before income taxes $ 853 $ 468 Capital expenditures $ 92 $ 469 $ 23 $ 584 $ 114 $ 472 $ 23 $ 609 (a) Exclusive of depreciation, amortization and accretion shown separately. (b) Segment costs of operations excludes (1) stock-based compensation expense of $14 million and $11 million for the six months ended June 30, 2022 and 2021, respectively, and (2) prepaid lease purchase price adjustments of $8 million and $9 million for the six months ended June 30, 2022 and 2021, respectively. Selling, general and administrative expenses exclude stock-based compensation expense of $69 million and $57 million for the six months ended June 30, 2022 and 2021, respectively.

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	6 Months Ended
	Jun. 30, 2022
Supplemental Cash Flow Elements [Abstract]
Supplemental Cash Flow Information	Supplemental Cash Flow Information The following table is a summary of the Company's supplemental cash flow information: Six Months Ended June 30, 2022 2021 Supplemental disclosure of cash flow information: Cash payments related to operating lease liabilities (a) $ 278 $ 274 Interest paid 324 344 Income taxes paid 9 13 Supplemental disclosure of non-cash operating, investing and financing activities: New ROU assets obtained in exchange for operating lease liabilities 155 324 Increase (decrease) in accounts payable for purchases of property and equipment (7) (16) Purchase of property and equipment under finance leases and installment purchases 10 23 (a) Excludes the Company's contingent payments pursuant to operating leases, which are recorded as expense in the period such contingencies are resolved. The reconciliation of cash, cash equivalents, and restricted cash reported within various lines on the condensed consolidated balance sheet to amounts reported in the condensed consolidated statement of cash flows is shown below. June 30, 2022 December 31, 2021 Cash and cash equivalents $ 281 $ 292 Restricted cash, current 160 169 Restricted cash reported within other assets, net 5 5 Cash, cash equivalents and restricted cash $ 446 $ 466

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Recent accounting prounouncements	Recently Adopted Accounting Pronouncements No accounting pronouncements adopted during the six months ended June 30, 2022 had a material impact on the Company's condensed consolidated financial statements. Recent Accounting Pronouncements Not Yet Adopted No new accounting pronouncements issued but not yet adopted are expected to have a material impact on the Company's condensed consolidated financial statements.

Revenues (Tables)

Revenues (Tables)	6 Months Ended
	Jun. 30, 2022
Revenue from Contract with Customer [Abstract]
Lessor, Operating Lease, Payment to be Received, Fiscal Year Maturity	The following table is a summary of the non-cancelable contracted amounts owed to the Company by tenants pursuant to tenant contracts in effect as of June 30, 2022. Six Months Ending December 31, Years Ending December 31, 2022 2023 2024 2025 2026 Thereafter Total Contracted amounts (a) $ 2,390 $ 4,691 $ 4,253 $ 3,935 $ 3,871 $ 22,617 $ 41,757 (a) Based on the nature of the contract, tenant contracts are accounted for pursuant to relevant lease accounting (ASC 842) or revenue accounting (ASC 606) guidance. Excludes amounts related to services, as those contracts generally have a duration of one year or less.

Debt and Other Obligations (Tab

Debt and Other Obligations (Tables)	6 Months Ended
	Jun. 30, 2022
Debt and Other Obligations [Abstract]
Schedule of Long-Term Debt Instruments	The table below sets forth the Company's debt and other obligations as of June 30, 2022. Original Final Maturity Date (a) Balance as of Balance as of Stated Interest Rate as of June 30, 2022 (a) 3.849% Secured Notes Dec. 2012 Apr. 2023 (h) $ — $ 998 N/A Secured Notes, Series 2009-1, Class A-2 July 2009 Aug. 2029 50 53 9.0 % Tower Revenue Notes, Series 2018-1 July 2018 July 2043 (h) — 249 N/A Tower Revenue Notes, Series 2015-2 May 2015 May 2045 (b) 697 696 3.7 % Tower Revenue Notes, Series 2018-2 July 2018 July 2048 (b) 745 744 4.2 % Finance leases and other obligations Various Various (c) 235 242 Various (c) Total secured debt $ 1,727 $ 2,982 2016 Revolver Jan. 2016 June 2026 $ 1,150 (d) $ 665 2.7 % (e) 2016 Term Loan A Jan. 2016 June 2026 1,207 1,222 2.7 % (e) Commercial Paper Notes Various (f) Various (f) 952 (f) 265 2.4 % 3.150% Senior Notes Jan. 2018 July 2023 748 747 3.2 % 3.200% Senior Notes Aug. 2017 Sept. 2024 747 747 3.2 % 1.350% Senior Notes June 2020 July 2025 496 496 1.4 % 4.450% Senior Notes Feb. 2016 Feb. 2026 896 895 4.5 % 3.700% Senior Notes May 2016 June 2026 747 746 3.7 % 1.050% Senior Notes Feb. 2021 July 2026 991 990 1.1 % 4.000% Senior Notes Feb. 2017 Mar. 2027 497 496 4.0 % 2.900% Senior Notes Mar. 2022 Mar. 2027 (g) 741 — 2.9 % 3.650% Senior Notes Aug. 2017 Sept. 2027 995 995 3.7 % 3.800% Senior Notes Jan. 2018 Feb. 2028 993 992 3.8 % 4.300% Senior Notes Feb. 2019 Feb. 2029 594 593 4.3 % 3.100% Senior Notes Aug. 2019 Nov. 2029 545 545 3.1 % 3.300% Senior Notes Apr. 2020 July 2030 739 738 3.3 % 2.250% Senior Notes June 2020 Jan. 2031 1,090 1,089 2.3 % 2.100% Senior Notes Feb. 2021 Apr. 2031 988 988 2.1 % 2.500% Senior Notes June 2021 July 2031 741 741 2.5 % 2.900% Senior Notes Feb. 2021 Apr. 2041 1,233 1,233 2.9 % 4.750% Senior Notes May 2017 May 2047 344 344 4.8 % 5.200% Senior Notes Feb. 2019 Feb. 2049 395 395 5.2 % 4.000% Senior Notes Aug. 2019 Nov. 2049 346 345 4.0 % 4.150% Senior Notes Apr. 2020 July 2050 490 490 4.2 % 3.250% Senior Notes June 2020 Jan. 2051 890 890 3.3 % Total unsecured debt $ 19,555 $ 17,647 Total debt and other obligations 21,282 20,629 Less: current maturities and short-term debt and other current obligations 70 72 Non-current portion of long-term debt and other long-term obligations $ 21,212 $ 20,557 (a) See the 2021 Form 10-K, including note 7 to the consolidated financial statements, for additional information regarding the maturity and principal amortization provisions and interest rates relating to the Company's indebtedness. (b) If the respective series of Tower Revenue Notes are not paid in full on or prior to an applicable anticipated repayment date, then Excess Cash Flow (as defined in the indenture) of the issuers of such notes will be used to repay principal of the applicable series and class of the Tower Revenue Notes, and additional interest (of an additional approximately 5% per annum) will accrue on the respective Tower Revenue Notes. As of June 30, 2022, the Tower Revenue Notes, Series 2015-2 and Series 2018-2 have principal amounts of $700 million and $750 million, with anticipated repayment dates in 2025 and 2028, respectively. (c) The Company's finance leases and other obligations relate to land, fiber, vehicles, and other assets and bear interest rates ranging up to 10% and mature in periods ranging from less than one year to approximately 25 years. (d) As of June 30, 2022, the undrawn availability under the 2016 Revolver was $3.8 billion. (e) Both the 2016 Revolver and 2016 Term Loan A bore interest, at the Company's option, at either (1) LIBOR plus a credit spread ranging from 0.875% to 1.750% per annum or (2) an alternate base rate plus a credit spread ranging from 0.000% to 0.750% per annum, in each case, with the applicable credit spread based on the Company's senior unsecured debt rating. The Company paid a commitment fee ranging from 0.080% to 0.300%, based on the Company's senior unsecured debt rating, per annum on the undrawn available amount under the 2016 Revolver. See the 2021 Form 10-K, including note 7 to the consolidated financial statements, for information regarding potential adjustments to such percentages. (f) In March 2022, the Company increased the size of its CP Program to permit the issuance of Commercial Paper Notes in an aggregate principal amount not to exceed $2.0 billion at any time outstanding. Notes under the CP Program may be issued, repaid and re-issued from time to time. The net proceeds of the Commercial Paper Notes are expected to be used for general corporate purposes. The maturities of the Commercial Paper Notes, when outstanding, may vary but may not exceed 397 days from the date of issue. The Commercial Paper Notes are issued under customary terms in the commercial paper market and are issued at a discount from par or, alternatively, can be issued at par and bear varying interest rates on a fixed or floating basis. As of June 30, 2022, the Company had net issuances of $952 million under the CP Program. At any point in time, the Company intends to maintain available commitments under its 2016 Revolver in an amount at least equal to the amount of Commercial Paper Notes outstanding. While any outstanding Commercial Paper Notes generally have short-term maturities, the Company classifies the outstanding issuances, when applicable, as long-term based on its ability and intent to refinance the outstanding issuances on a long-term basis. (g) In March 2022, the Company issued $750 million aggregate principal amount of 2.900% senior unsecured notes due 2027 ("March 2022 Senior Notes"). The Company used the net proceeds from the March 2022 Senior Notes offering to repay a portion of the outstanding indebtedness under its CP Program and pay related fees and expenses.
Schedule of Maturities of Long-term Debt	The following are the scheduled principal payments and final maturities of the total debt and other long-term obligations of the Company outstanding as of June 30, 2022, which do not consider the principal payments that will commence following the anticipated repayment dates on the Tower Revenue Notes. Six Months Ending Years Ending December 31, Total Cash Obligations Unamortized Adjustments, Net Total Debt and Other Obligations Outstanding 2022 2023 2024 2025 2026 Thereafter Scheduled principal payments and final maturities $ 992 (a) $ 841 $ 844 $ 638 $ 4,795 (b)(c) $ 13,335 (b) $ 21,445 $ (163) $ 21,282 (a) Predominately consists of outstanding indebtedness under the CP Program (as discussed in footnote (f) above). (b) Certain previously-reported amounts within the 2026 and Thereafter columns have been adjusted. There was no impact to the amount shown in the previously-reported Total Cash Obligations column.
Debt Instrument Redemption [Table Text Block]	Purchases and Redemptions of Long-Term Debt The following is a summary of purchases and redemptions of long-term debt during the six months ended June 30, 2022. Principal Amount Cash Paid (a) Gains (Losses) (b) Tower Revenue Notes, Series 2018-1 $ 250 $ 252 $ (3) 3.849% Secured Notes 1,000 1,022 (23) Total $ 1,250 $ 1,274 $ (26) (a) Exclusive of accrued interest. (b) Inclusive of the write off of respective deferred financing costs.
Components of Interest Expense and Amortization of Deferred Financing Costs	Interest Expense and Amortization of Deferred Financing Costs The components of interest expense and amortization of deferred financing costs are as follows: Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Interest expense on debt obligations $ 161 $ 157 $ 322 $ 324 Amortization of deferred financing costs and adjustments on long-term debt 7 7 13 13 Capitalized interest (3) (3) (6) (7) Total $ 165 $ 161 $ 329 $ 330

Fair Value Disclosures (Tables)

Fair Value Disclosures (Tables)	6 Months Ended
	Jun. 30, 2022
Fair Value Disclosures [Abstract]
Estimated Fair Values and Carrying Amounts of Assets and Liabilities	Level in Fair Value Hierarchy June 30, 2022 December 31, 2021 Carrying Fair Carrying Fair Assets: Cash and cash equivalents 1 $ 281 $ 281 $ 292 $ 292 Restricted cash, current and non-current 1 165 165 174 174 Liabilities: Total debt and other obligations 2 21,282 19,442 20,629 21,588

Per Share Information (Tables)

Per Share Information (Tables)	6 Months Ended
	Jun. 30, 2022
Earnings Per Share [Abstract]
Reconciliation of the Numerators and Denominators of the Basic and Diluted Per Share Computations	Three Months Ended June 30, Six Months Ended June 30, 2022 2021 2022 2021 Income (loss) from continuing operations for basic and diluted computations $ 421 $ 333 $ 842 $ 455 Income (loss) from discontinued operations, net of tax — 1 $ — $ (62) Net income (loss) $ 421 $ 334 $ 842 $ 393 Weighted-average number of common shares outstanding (in millions): Basic weighted-average number of common stock outstanding 433 432 433 432 Effect of assumed dilution from potential issuance of common shares relating to restricted stock units 1 2 1 2 Diluted weighted-average number of common shares outstanding 434 434 434 434 Net income (loss), per common share: Income (loss) from continuing operations, basic $ 0.97 $ 0.77 $ 1.95 $ 1.05 Income (loss) from discontinued operations, basic — — — (0.14) Net income (loss)—basic $ 0.97 $ 0.77 $ 1.95 $ 0.91 Income (loss) from continuing operations, diluted $ 0.97 $ 0.77 $ 1.94 $ 1.04 Income (loss) from discontinued operations, diluted — — — (0.14) Net income (loss)—diluted $ 0.97 $ 0.77 $ 1.94 $ 0.90 Dividends/distributions declared per share of common stock $ 1.47 $ 1.33 $ 2.94 $ 2.66

Equity (Tables)

Equity (Tables)	6 Months Ended
	Jun. 30, 2022
Equity [Abstract]
Dividends Declared	Declaration and Payment of Dividends During the six months ended June 30, 2022, the following dividends/distributions were declared or paid: Equity Type Declaration Date Record Date Payment Date Dividends Per Share Aggregate Payment Amount (a) Common Stock February 8, 2022 March 15, 2022 March 31, 2022 $ 1.47 $ 639 Common Stock May 9, 2022 June 15, 2022 June 30, 2022 $ 1.47 $ 638 (a) Inclusive of dividends accrued for holders of unvested restricted stock units, which will be paid when and if the restricted stock units vest.

Operating Segments Operating Se

Operating Segments Operating Segments (Tables)	3 Months Ended	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2022
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	Three Months Ended June 30, 2022 Three Months Ended June 30, 2021 Towers Fiber Other Consolidated Towers Fiber Other Consolidated Segment site rental revenues $ 1,078 $ 489 $ 1,567 $ 952 $ 473 $ 1,425 Segment services and other revenues 164 3 167 154 4 158 Segment revenues 1,242 492 1,734 1,106 477 1,583 Segment site rental costs of operations 232 162 394 221 161 382 Segment services and other costs of operations 107 2 109 100 3 103 Segment costs of operations (a)(b) 339 164 503 321 164 485 Segment site rental gross margin 846 327 1,173 731 312 1,043 Segment services and other gross margin 57 1 58 54 1 55 Segment selling, general and administrative expenses (b) 28 46 74 26 44 70 Segment operating profit (loss) 875 282 1,157 759 269 1,028 Other selling, general and administrative expenses $ 79 79 $ 70 70 Stock-based compensation expense 44 44 34 34 Depreciation, amortization and accretion 427 427 408 408 Interest expense and amortization of deferred financing costs 165 165 161 161 Other (income) expenses to reconcile to income (loss) before income taxes (c) 16 16 16 16 Income (loss) before income taxes $ 426 $ 339 Capital expenditures $ 45 $ 247 $ 11 $ 303 $ 63 $ 235 $ 10 $ 308 Total assets (at period end) $ 22,286 $ 15,859 $ 868 $ 39,013 $ 22,207 $ 15,771 $ 995 $ 38,973 (a) Exclusive of depreciation, amortization and accretion shown separately. (b) Segment costs of operations excludes (1) stock-based compensation of $7 million and $5 million for the three months ended June 30, 2022 and 2021, respectively and (2) prepaid lease purchase price adjustments of $4 million for each of the three months ended June 30, 2022 and 2021. Selling, general and administrative expenses exclude stock-based compensation expense of $37 million and $29 million for the three months ended June 30, 2022 and 2021, respectively.	Six Months Ended June 30, 2022 Six Months Ended June 30, 2021 Towers Fiber Other Consolidated Towers Fiber Other Consolidated Segment site rental revenues $ 2,153 $ 990 $ 3,143 $ 1,847 $ 947 $ 2,794 Segment services and other revenues 327 6 333 265 9 274 Segment revenues 2,480 996 3,476 2,112 956 3,068 Segment site rental costs of operations 458 323 781 433 322 755 Segment services and other costs of operations 216 4 220 175 6 181 Segment costs of operations (a)(b) 674 327 1,001 608 328 936 Segment site rental gross margin 1,695 667 2,362 1,414 625 2,039 Segment services and other gross margin 111 2 113 90 3 93 Segment selling, general and administrative expenses (b) 56 93 149 51 89 140 Segment operating profit (loss) 1,750 576 2,326 1,453 539 1,992 Other selling, general and administrative expenses $ 153 153 $ 136 136 Stock-based compensation expense 83 83 68 68 Depreciation, amortization and accretion 847 847 816 816 Interest expense and amortization of deferred financing costs 329 329 330 330 Other (income) expenses to reconcile to income (loss) before income taxes (c) 61 61 174 174 Income (loss) before income taxes $ 853 $ 468 Capital expenditures $ 92 $ 469 $ 23 $ 584 $ 114 $ 472 $ 23 $ 609 (a) Exclusive of depreciation, amortization and accretion shown separately. (b) Segment costs of operations excludes (1) stock-based compensation expense of $14 million and $11 million for the six months ended June 30, 2022 and 2021, respectively, and (2) prepaid lease purchase price adjustments of $8 million and $9 million for the six months ended June 30, 2022 and 2021, respectively. Selling, general and administrative expenses exclude stock-based compensation expense of $69 million and $57 million for the six months ended June 30, 2022 and 2021, respectively.

Supplemental Cash Flow Inform_2

Supplemental Cash Flow Information (Tables)	6 Months Ended
	Jun. 30, 2022
Supplemental Cash Flow Elements [Abstract]
Schedule of Cash Flow, Supplemental Disclosures [Table Text Block]	The following table is a summary of the Company's supplemental cash flow information: Six Months Ended June 30, 2022 2021 Supplemental disclosure of cash flow information: Cash payments related to operating lease liabilities (a) $ 278 $ 274 Interest paid 324 344 Income taxes paid 9 13 Supplemental disclosure of non-cash operating, investing and financing activities: New ROU assets obtained in exchange for operating lease liabilities 155 324 Increase (decrease) in accounts payable for purchases of property and equipment (7) (16) Purchase of property and equipment under finance leases and installment purchases 10 23 (a) Excludes the Company's contingent payments pursuant to operating leases, which are recorded as expense in the period such contingencies are resolved.
Schedule of Cash, Cash Equivalents and Restricted Cash	The reconciliation of cash, cash equivalents, and restricted cash reported within various lines on the condensed consolidated balance sheet to amounts reported in the condensed consolidated statement of cash flows is shown below. June 30, 2022 December 31, 2021 Cash and cash equivalents $ 281 $ 292 Restricted cash, current 160 169 Restricted cash reported within other assets, net 5 5 Cash, cash equivalents and restricted cash $ 446 $ 466

General Business (Details)

General Business (Details)	Jun. 30, 2022
Subject to Capital Lease with TMO or AT&T [Member]
Purchase Option, Percentage of Towers	53%

Revenues (Details)

Revenues (Details) - USD ($) $ in Millions		6 Months Ended
		Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Revenue Recognition Non-cancelable Lease Term for Wireless Tenants		five to 15 years
Revenue Recognition for Fiber Solutions Tenants		three to 20 years
Deferred site rental receivables		$ 1,796		$ 1,588
Revenue, Performance Obligation, Description of Payment Terms		45 to 60 days
Revenue, Remaining Performance Obligation, Amount		$ 2,500		$ 2,600
Revenue Recognized on Deferred Revenues		350	$ 315
Contracted Amounts Receivable from Customers, remainder of year	[1]	2,390
Contracted Amounts Receivable from Customers, in Two Years	[1]	4,691
Contracted Amounts Receivable from Customers, in Three Years	[1]	4,253
Contracted Amounts Receivable from Customers, in Four Years	[1]	3,935
Contracted Amounts Receivable from Customers, in Five Years	[1]	3,871
Contracted Amounts Receivable from Customers, Thereafter	[1]	22,617
Lessor, Operating Lease, Payments to be Received	[1]	41,757
Other Current Assets [Member]
Deferred site rental receivables		111
Other Noncurrent Assets [Member]
Deferred site rental receivables		$ 1,800
[1]Based on the nature of the contract, tenant contracts are accounted for pursuant to relevant lease accounting (ASC 842) or revenue accounting (ASC 606) guidance. Excludes amounts related to services, as those contracts generally have a duration of one year or less.

Debt and Other Obligations (Ind

Debt and Other Obligations (Indebtedness) (Details) - USD ($) $ in Millions		6 Months Ended
		Jun. 30, 2022		Dec. 31, 2021
Debt Instrument [Line Items]
Debt and Finance Lease Obligations		$ 21,282		$ 20,629
Less: current maturities of debt and other obligations		70		72
Non-current portion of long-term debt and other long-term obligations		21,212		20,557
2015 Tower Revenue Notes 3.663% due 2045 [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount		700
2018 Tower Revenue Notes 4.241% due 2048 [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount		$ 750
Fixed Rate Securitized Debt July 2018 Tower Revenue Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Increase (Decrease)		5%
Finance Lease Obligations and Other [Member] | Securitized Debt [Member]
Debt Instrument [Line Items]
Debt and Finance Lease Obligations	[1]	$ 235		242
High Yield Bonds [Member] | Senior Unsecured 2016 Notes 4.450% [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	[2]	4.50%
Debt and Finance Lease Obligations		$ 896		895
High Yield Bonds [Member] | 4.000% Senior Unsecured Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	[2]	4%
Debt and Finance Lease Obligations		$ 497		496
High Yield Bonds [Member] | 4.750% Senior Unsecured Notes [Member] [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	[2]	4.80%
Debt and Finance Lease Obligations		$ 344		344
High Yield Bonds [Member] | August 2017 Senior Unsecured 3.200% Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	[2]	3.20%
Debt and Finance Lease Obligations		$ 747		747
High Yield Bonds [Member] | June 2020 Senior Unsecured 1.350% Notes [Domain]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	[2]	1.40%
Debt and Finance Lease Obligations		$ 496		496
High Yield Bonds [Member] | August 2017 Senior Unsecured 3.650% Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	[2]	3.70%
Debt and Finance Lease Obligations		$ 995		995
High Yield Bonds [Member] | 3.150% Senior Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	[2]	3.20%
Debt and Finance Lease Obligations		$ 748		747
High Yield Bonds [Member] | 3.800% Senior Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	[2]	3.80%
Debt and Finance Lease Obligations		$ 993		992
High Yield Bonds [Member] | February 2019 Senior Unsecured 4.300% Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	[2]	4.30%
Debt and Finance Lease Obligations		$ 594		593
High Yield Bonds [Member] | February 2019 Senior Unsecured 5.200% Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	[2]	5.20%
Debt and Finance Lease Obligations		$ 395		395
High Yield Bonds [Member] | August 2019 Senior Unsecured 3.100% Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	[2]	3.10%
Debt and Finance Lease Obligations		$ 545		545
High Yield Bonds [Member] | August 2019 Senior Unsecured 4.000% Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	[2]	4%
Debt and Finance Lease Obligations		$ 346		345
High Yield Bonds [Member] | April 2020 Senior Unsecured 3.300% Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	[2]	3.30%
Debt and Finance Lease Obligations		$ 739		738
High Yield Bonds [Member] | June 2020 Senior Unsecured 2.250% Notes [Domain]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	[2]	2.30%
Debt and Finance Lease Obligations		$ 1,090		1,089
High Yield Bonds [Member] | April 2020 Senior Unsecured 4.150% Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	[2]	4.20%
Debt and Finance Lease Obligations		$ 490		490
High Yield Bonds [Member] | June 2020 Senior Unsecured 3.250% Notes [Domain]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	[2]	3.30%
Debt and Finance Lease Obligations		$ 890		890
High Yield Bonds [Member] | February 2021 Senior Unsecured 2.100% Notes
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	[2]	2.10%
Debt and Finance Lease Obligations		$ 988		988
High Yield Bonds [Member] | February 2021 Senior Unsecured 2.900% Notes
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	[2]	2.90%
Debt and Finance Lease Obligations		$ 1,233		1,233
High Yield Bonds [Member] | February 2021 Senior Unsecured 1.050% Notes
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	[2]	1.10%
Debt and Finance Lease Obligations		$ 991		990
High Yield Bonds [Member] | Senior Unsecured 2016 Notes 3.7% [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	[2]	3.70%
Debt and Finance Lease Obligations		$ 747		746
High Yield Bonds [Member] | June 2021 Senior Unsecured 2.500% Notes [Domain]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	[2]	2.50%
Debt and Finance Lease Obligations		$ 741		741
High Yield Bonds [Member] | 2.900% Senior Unsecured Notes
Debt Instrument [Line Items]
Debt Instrument, Face Amount		$ 750
Debt Instrument, Interest Rate, Stated Percentage		2.90%
Debt and Finance Lease Obligations		$ 741	[3]	0
Unsecured Debt [Member]
Debt Instrument [Line Items]
Debt and Finance Lease Obligations		19,555		17,647
Securitized Debt [Member]
Debt Instrument [Line Items]
Debt and Finance Lease Obligations		$ 1,727		2,982
Securitized Debt [Member] | 2015 Tower Revenue Notes 3.663% due 2045 [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	[2]	3.70%
Debt and Finance Lease Obligations	[4]	$ 697		696
Securitized Debt [Member] | 2018 Tower Revenue Notes 3.720% due 2043 [Member]
Debt Instrument [Line Items]
Debt and Finance Lease Obligations		$ 0	[5]	249	[4]
Securitized Debt [Member] | 2018 Tower Revenue Notes 4.241% due 2048 [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	[2]	4.20%
Debt and Finance Lease Obligations	[4]	$ 745		744
Securitized Debt [Member] | 3.849% Secured Notes [Member]
Debt Instrument [Line Items]
Debt and Finance Lease Obligations		$ 0	[5]	998
Securitized Debt [Member] | Fixed Rate Debt 2009 Securitized Notes A-2 [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	[2]	9%
Debt and Finance Lease Obligations		$ 50		53
Bank Debt [Member] | 2016 Term Loan A [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	[2],[6]	2.70%
Debt and Finance Lease Obligations		$ 1,207		1,222
Bank Debt [Member] | Commercial Paper [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	[2]	2.40%
Bank Debt [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	[6]	2.70%
Commercial Paper [Member]
Debt Instrument [Line Items]
Commercial Paper - Outstanding		$ 952
Maximum [Member] | Maximum [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage		0.75%
Maximum [Member] | Finance Lease Obligations and Other [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage		10%
Maximum [Member] | Finance Lease Obligations and Other [Member]
Debt Instrument [Line Items]
Debt Instrument Maturity Date Range		25 years
Minimum [Member] | Minimum [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage		0%
Minimum [Member] | Finance Lease Obligations and Other [Member]
Debt Instrument [Line Items]
Debt Instrument Maturity Date Range		one year
London Interbank Offered Rate (LIBOR) [Member] | Maximum [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage		1.75%
London Interbank Offered Rate (LIBOR) [Member] | Minimum [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage		0.875%
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Debt Instrument, Unused Borrowing Capacity, Amount		$ 3,800
Debt and Finance Lease Obligations	[7]	$ 1,150		665
Revolving Credit Facility [Member] | Maximum [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Commitment Fee Percentage		0.30%
Revolving Credit Facility [Member] | Minimum [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Commitment Fee Percentage		0.08%
Commercial Paper [Member]
Debt Instrument [Line Items]
Debt and Finance Lease Obligations	[8]	$ 952		$ 265
Commercial Paper - Maximum Available		$ 2,000
Debt Instrument, Maturity Date, Description		397 days
[1]The Company's finance leases and other obligations relate to land, fiber, vehicles, and other assets and bear interest rates ranging up to 10% and mature in periods ranging from less than one year to approximately 25 years.[2]See the 2021 Form 10-K, including note 7 to the consolidated financial statements, for additional information regarding the maturity and principal amortization provisions and interest rates relating to the Company's indebtedness.[3]In March 2022, the Company issued $750 million aggregate principal amount of 2.900% senior unsecured notes due 2027 ("March 2022 Senior Notes"). The Company used the net proceeds from the March 2022 Senior Notes offering to repay a portion of the outstanding indebtedness under its CP Program and pay related fees and expenses.[4]If the respective series of Tower Revenue Notes are not paid in full on or prior to an applicable anticipated repayment date, then Excess Cash Flow (as defined in the indenture) of the issuers of such notes will be used to repay principal of the applicable series and class of the Tower Revenue Notes, and additional interest (of an additional approximately 5% per annum) will accrue on the respective Tower Revenue Notes. As of June 30, 2022, the Tower Revenue Notes, Series 2015-2 and Series 2018-2 have principal amounts of $700 million and $750 million, with anticipated repayment dates in 2025 and 2028, respectively.[5]In March 2022, the Company (1) prepaid in full the previously outstanding Tower Revenue Notes, Series 2018-1 and (2) redeemed in full the previously outstanding 3.849% Secured Notes.[6]Both the 2016 Revolver and 2016 Term Loan A bore interest, at the Company's option, at either (1) LIBOR plus a credit spread ranging from 0.875% to 1.750% per annum or (2) an alternate base rate plus a credit spread ranging from 0.000% to 0.750% per annum, in each case, with the applicable credit spread based on the Company's senior unsecured debt rating. The Company paid a commitment fee ranging from 0.080% to 0.300%, based on the Company's senior unsecured debt rating, per annum on the undrawn available amount under the 2016 Revolver. See the 2021 Form 10-K, including note 7 to the consolidated financial statements, for information regarding potential adjustments to such percentages.[7]As of June 30, 2022, the undrawn availability under the 2016 Revolver was $3.8 billion.[8]In March 2022, the Company increased the size of its CP Program to permit the issuance of Commercial Paper Notes in an aggregate principal amount not to exceed $2.0 billion at any time outstanding. Notes under the CP Program may be issued, repaid and re-issued from time to time. The net proceeds of the Commercial Paper Notes are expected to be used for general corporate purposes. The maturities of the Commercial Paper Notes, when outstanding, may vary but may not exceed 397 days from the date of issue. The Commercial Paper Notes are issued under customary terms in the commercial paper market and are issued at a discount from par or, alternatively, can be issued at par and bear varying interest rates on a fixed or floating basis. As of June 30, 2022, the Company had net issuances of $952 million under the CP Program. At any point in time, the Company intends to maintain available commitments under its 2016 Revolver in an amount at least equal to the amount of Commercial Paper Notes outstanding. While any outstanding Commercial Paper Notes generally have short-term maturities, the Company classifies the outstanding issuances, when applicable, as long-term based on its ability and intent to refinance the outstanding issuances on a long-term basis.

Debt and Other Obligations (Com

Debt and Other Obligations (Components of Interest Expense and Amortization of Deferred Financing Costs) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Debt and Other Obligations [Abstract]
Interest Expense, Debt, Excluding Amortization	$ 161	$ 157	$ 322	$ 324
Amortization of deferred financing costs and adjustments on long-term debt	7	7	13	13
Capitalized interest	(3)	(3)	(6)	(7)
Interest expense and amortization of deferred financing costs	$ 165	$ 161	$ 329	$ 330

Debt and Other Obligations Cont

Debt and Other Obligations Contractual Maturities (Details) - USD ($) $ in Millions		Jun. 30, 2022	Dec. 31, 2021
Contractual Obligation, Fiscal Year Maturity Schedule [Abstract]
Long-Term Debt, Maturity, remainder of year	[1]	$ 992
Long-Term Debt, Maturity, Year Two		841
Long-Term Debt, Maturity, Year Three		844
Long-Term Debt, Maturity, Year Four		638
Long-Term Debt, Maturity, Year Five	[2],[3]	4,795
Long-Term Debt, Maturity, after Year Five	[2]	13,335
Total Cash Obligations		21,445
Unamortized Adjustments, Net		(163)
Debt and Finance Lease Obligations		$ 21,282	$ 20,629
[1]Predominately consists of outstanding indebtedness under the CP Program (as discussed in footnote (f) above).[2]Certain previously-reported amounts within the 2026 and Thereafter columns have been adjusted. There was no impact to the amount shown in the previously-reported Total Cash Obligations column.[3]Inclusive of outstanding borrowings under the 2016 Credit Facility as of June 30, 2022. See note 12 for a discussion of the 2022 Credit Agreement Amendment.

Debt and Other Obligations Exti

Debt and Other Obligations Extinguishment of Debt (Details) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022		Jun. 30, 2021
Extinguishment of Debt [Line Items]
Principal amount				$ 1,250
Cash paid	[1]			1,274
Gains (losses) on retirement of long-term obligations		$ 0	$ (1)	(26)	[2]	$ (144)
3.849% Secured Notes [Member]
Extinguishment of Debt [Line Items]
Principal amount				1,000
Cash paid	[1]			1,022
Gains (losses) on retirement of long-term obligations	[2]			23
2018 Tower Revenue Notes 3.720% due 2043 [Member]
Extinguishment of Debt [Line Items]
Principal amount				250
Cash paid	[1]			252
Gains (losses) on retirement of long-term obligations	[2]			$ 3
[1]Exclusive of accrued interest.[2]Inclusive of the write off of respective deferred financing costs.

Fair Value Disclosures (Estimat

Fair Value Disclosures (Estimated Fair Values and Carrying Amounts of Assets and Liabilities) (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Fair Value Disclosures [Abstract]
Cash and cash equivalents	$ 281	$ 292
Cash and cash equivalents, fair value	281	292
Restricted Cash Fair Value Disclosure	165	174
Restricted Cash	165	174
Long-term debt and other obligations, carrying amount	21,282	20,629
Long-term debt and other obligations, fair value	$ 19,442	$ 21,588

Per Share Information (Reconcil

Per Share Information (Reconciliation of the Numerators and Denominators of the Basic and Diluted Per Share Computations) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Earnings Per Share [Abstract]
Income (loss) from continuing operations	$ 421	$ 333	$ 842	$ 455
Net income (loss)	421	334	842	393
Income (loss) from discontinued operations, net of tax	0	1	0	(62)
Net Income (Loss) Available to Common Stockholders, Basic	$ 421	$ 334	$ 842	$ 393
Basic weighted-average number of common stock outstanding	433	432	433	432
Effect of assumed dilution from potential issuance of common shares relating to restricted stock units	1	2	1	2
Diluted weighted-average number of common shares outstanding	434	434	434	434
Income (loss) from continuing operations, per share - basic	$ 0.97	$ 0.77	$ 1.95	$ 1.05
Income (loss) from discontinued operations, per share - basic	0	0	0	(0.14)
Earnings Per Share, Basic	0.97	0.77	1.95	0.91
Income (loss) from continuing operations, per share - diluted	0.97	0.77	1.94	1.04
Income (loss) from discontinued operations, per share - diluted	0	0	0	(0.14)
Earnings Per Share, Diluted	0.97	0.77	1.94	0.90
Dividends/distributions declared per share of common stock (in dollars per share)	$ 1.47	$ 1.33	$ 2.94	$ 2.66

Per Share Information Stock Iss

Per Share Information Stock Issued During Period, Restricted Stock Award (Details) shares in Millions	6 Months Ended
	Jun. 30, 2022 shares
Restricted stock units granted [Abstract]
Restricted stock award granted	1

Commitments and Contingencies C

Commitments and Contingencies Commitment and Contingencies (Details)	Jun. 30, 2022
Subject to Capital Lease with TMO or AT&T [Member]
Other Commitments [Line Items]
Purchase Option, Percentage of Towers	53%

Equity (Details)

Equity (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2022	Jun. 30, 2021
Common Stock, Dividends, Per Share, Cash Paid		$ 1.47	$ 1.47
Dividends, Common Stock, Cash	[1]	$ 638	$ 639
Common stock repurchased during period, shares				0.4
Purchases of common stock				$ (63)	$ (68)
Availability Under ATM		$ 750		$ 750
Common Stock [Member]
Dividends Payable, Date Declared		May 09, 2022	Feb. 08, 2022
Dividends Payable, Date of Record		Jun. 15, 2022	Mar. 15, 2022
Dividends Payable, Date to be Paid		Jun. 30, 2022	Mar. 31, 2022
[1]Inclusive of dividends accrued for holders of unvested restricted stock units, which will be paid when and if the restricted stock units vest.

Operating Segments Operating _2

Operating Segments Operating Segments Table (Details) $ in Millions		3 Months Ended				6 Months Ended
		Jun. 30, 2022 USD ($)		Jun. 30, 2021 USD ($)		Jun. 30, 2022 USD ($)		Jun. 30, 2021 USD ($)		Dec. 31, 2021 USD ($)
Segment Reporting Information [Line Items]
Tower Count		40,000				40,000
Fiber Miles		85,000				85,000
Amortization of prepaid lease purchase price adjustments		$ 4		$ 4		$ 8		$ 9
Site Rental		1,567		1,425		3,143		2,794
Services and other		167		158		333		274
Segment Revenues		1,734		1,583		3,476		3,068
Segment site rental cost of operations	[1]	402		389		798		770
Services and other	[1]	112		105		225		186
Segment selling, general and administrative expenses		190		169		371		333
Stock-based compensation expense						83		67
Depreciation, Amortization and Accretion, Net		427		408		847		816
Interest expense and amortization of deferred financing costs		165		161		329		330
Capital expenditures						584		609
Total Assets		39,013				39,013				$ 39,040
Segments [Domain]
Segment Reporting Information [Line Items]
Site Rental		1,567		1,425		3,143		2,794
Services and other		167		158		333		274
Segment Revenues		1,734		1,583		3,476		3,068
Segment site rental cost of operations		394		382		781		755
Services and other		109		103		220		181
Segment cost of operations	[2]	503	[3]	485	[3]	1,001	[4]	936	[4]
Segment site rental gross margin		1,173		1,043		2,362		2,039
Segment services gross margin		58		55		113		93
Segment General and Administrative Expenses [Line Items]		74	[3]	70	[3]	149	[4]	140	[4]
Segment selling, general and administrative expenses		79		70		153		136
Segment Operating Profit		1,157		1,028		2,326		1,992
Stock-based compensation expense		44		34		83		68
Depreciation, Amortization and Accretion, Net		427		408		847		816
Interest expense and amortization of deferred financing costs		165		161		329		330
Other expenses to reconcile to income (loss) from continuing operations before income taxes	[5]	16		16		61		174
Income (loss) before income taxes		426		339		853		468
Capital expenditures		303		308		584		609
Total Assets		39,013		38,973		39,013		38,973
Segment cost of operations share-based compensation [Member]
Segment Reporting Information [Line Items]
Stock-based compensation expense		7		5		14		11
Towers [Member]
Segment Reporting Information [Line Items]
Site Rental		1,078		952		2,153		1,847
Services and other		164		154		327		265
Segment Revenues		1,242		1,106		2,480		2,112
Segment site rental cost of operations		232		221		458		433
Services and other		107		100		216		175
Segment cost of operations	[2]	339	[3]	321	[3]	674	[4]	608	[4]
Segment site rental gross margin		846		731		1,695		1,414
Segment services gross margin		57		54		111		90
Segment selling, general and administrative expenses		28	[3]	26	[3]	56	[4]	51	[4]
Segment Operating Profit		875		759		1,750		1,453
Capital expenditures		45		63		92		114
Total Assets		22,286		22,207		22,286		22,207
Fiber [Member]
Segment Reporting Information [Line Items]
Site Rental		489		473		990		947
Services and other		3		4		6		9
Segment Revenues		492		477		996		956
Segment site rental cost of operations		162		161		323		322
Services and other		2		3		4		6
Segment cost of operations	[2]	164	[3]	164	[3]	327	[4]	328	[4]
Segment site rental gross margin		327		312		667		625
Segment services gross margin		1		1		2		3
Segment selling, general and administrative expenses		46	[3]	44	[3]	93	[4]	89	[4]
Segment Operating Profit		282		269		576		539
Capital expenditures		247		235		469		472
Total Assets		15,859		15,771		15,859		15,771
Corporate and Other [Member]
Segment Reporting Information [Line Items]
Segment selling, general and administrative expenses		79		70		153		136
Stock-based compensation expense		44		34		83		68
Depreciation, Amortization and Accretion, Net		427		408		847		816
Interest expense and amortization of deferred financing costs		165		161		329		330
Other expenses to reconcile to income (loss) from continuing operations before income taxes	[5]	16		16		61		174
Capital expenditures		11		10		23		23
Total Assets		868		995		868		995
Segment G&A share-based compensation [Member]
Segment Reporting Information [Line Items]
Stock-based compensation expense		$ 37		$ 29		$ 69		$ 57
[1]Exclusive of depreciation, amortization and accretion shown separately.[2]Exclusive of depreciation, amortization and accretion shown separately.[3]Segment costs of operations excludes (1) stock-based compensation of $7 million and $5 million for the three months ended June 30, 2022 and 2021, respectively and (2) prepaid lease purchase price adjustments of $4 million for each of the three months ended June 30, 2022 and 2021. Selling, general and administrative expenses exclude stock-based compensation expense of $37 million and $29 million for the three months ended June 30, 2022 and 2021, respectively.[4]Segment costs of operations excludes (1) stock-based compensation expense of $14 million and $11 million for the six months ended June 30, 2022 and 2021, respectively, and (2) prepaid lease purchase price adjustments of $8 million and $9 million for the six months ended June 30, 2022 and 2021, respectively. Selling, general and administrative expenses exclude stock-based compensation expense of $69 million and $57 million for the six months ended June 30, 2022 and 2021, respectively.[5]See condensed consolidated statement of operations for further information.

Supplemental Cash Flow Inform_3

Supplemental Cash Flow Information (Details) - USD ($) $ in Millions		6 Months Ended
		Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021	Dec. 31, 2020
Supplemental Cash Flow Information [Line Items]
Cash payments related to operating lease liabilities	[1]	$ 278	$ 274
Interest Paid		324	344
Income Taxes Paid		9	13
New ROU assets obtained in exchange for operating lease liabilities		155	324
Increase (decrease) in accounts payable for purchases of property and equipment		(7)	(16)
Purchase of property and equipment under capital leases and installment purchases		10	23
Reconciliation of cash, cash equivalents and restricted cash [Line Items]
Cash and cash equivalents		281		$ 292
Restricted cash, current		160		169
Restricted Cash, Noncurrent		5		5
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents		$ 446	$ 525	$ 466	$ 381
[1]Excludes the Company's contingent payments pursuant to operating leases, which are recorded as expense in the period such contingencies are resolved.

Subsequent Events (Details)

Subsequent Events (Details) - USD ($) $ / shares in Units, $ in Millions	Aug. 05, 2022	Jul. 08, 2022	Jun. 30, 2022
Revolving Credit Facility [Member]
Subsequent Event [Line Items]
Revolver maximum commitments		$ 7,000	$ 5,000
Subsequent Event
Subsequent Event [Line Items]
Dividends Payable, Amount Per Share	$ 1.47