Uniti (UNIT) 10-Q 14 Nov 16 2016 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2016	Nov. 07, 2016
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q3
Trading Symbol	CSAL
Entity Registrant Name	COMMUNICATIONS SALES & LEASING, INC.
Entity Central Index Key	1,620,280
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		155,789,510

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (unaudited) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Assets:
Property, plant and equipment, net	$ 2,694,141	$ 2,372,651
Cash and cash equivalents	40,762	142,498
Accounts receivable, net	15,846	2,083
Goodwill	263,459
Intangible assets, net	162,941	10,530
Straight-line revenue receivable	24,969	11,795
Other assets	15,416	3,079
Total Assets	3,217,534	2,542,636
Liabilities:
Accounts payable, accrued expenses and other liabilities	37,925	10,409
Accrued interest payable	57,528	24,440
Deferred revenue	213,889	67,817
Derivative liability	68,758	5,427
Dividends payable	94,470	90,507
Deferred income taxes	31,390	5,714
Capital lease obligations	55,215
Contingent consideration	98,600
Notes and other debt, net	3,846,711	3,505,228
Total liabilities	4,504,486	3,709,542
Commitments and contingencies (Note 13)
Shareholders' Deficit:
Preferred stock, $0.0001 par value, 50,000 shares authorized, no shares issued and outstanding
Common stock, $0.0001 par value, 500,000 shares authorized, issued and outstanding: 155,123 shares at September 30, 2016 and 149,862 at December 31, 2015	15	15
Additional paid-in capital	140,466	1,392
Accumulated other comprehensive loss	(68,938)	(5,427)
Distributions in excess of accumulated earnings	(1,438,302)	(1,162,886)
Total shareholders' deficit	(1,366,759)	(1,166,906)
Total Liabilities, Convertible Preferred Stock, and Shareholders' Deficit	3,217,534	$ 2,542,636
Series A Convertible Preferred Stock
Liabilities:
Convertible Preferred Stock, Series A, $0.0001 par value, 88 shares authorized, issued and outstanding, $87,500 liquidation value	$ 79,807

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) (unaudited) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	50,000,000	50,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	500,000,000	500,000,000
Common stock, shares issued	155,123,000	149,862,000
Common stock, shares outstanding	155,123,000	149,862,000
Series A Convertible Preferred Stock
Convertible preferred stock, par value	$ 0.0001
Convertible preferred stock, shares authorized	88,000
Convertible preferred stock, shares issued	88,000
Convertible preferred stock, shares outstanding	88,000
Convertible preferred stock, liquidation value	$ 87,500

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income (unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		5 Months Ended	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2015	Sep. 30, 2016
Revenues:
Total revenues	$ 200,240	$ 173,634	$ 302,382	$ 563,488
Costs and Expenses:
Interest expense	70,522	66,511	115,307	204,607
Depreciation and amortization	96,723	87,271	151,715	275,448
General and administrative expense	10,191	4,229	7,390	23,619
Operating expense	15,704	5,148	8,889	30,322
Transaction related costs	9,315	804	877	24,435
Total costs and expenses	202,455	163,963	284,178	558,431
(Loss) income before income taxes	(2,215)	9,671	18,204	5,057
Income tax expense	128	268	500	899
Net (loss) income	(2,343)	9,403	17,704	4,158
Participating securities' share in earnings	(407)	(430)	(755)	(1,164)
Dividends declared on convertible preferred stock	(649)			(1,087)
Amortization of discount on convertible preferred stock	(745)			(1,241)
Net (loss) income applicable to common shareholders	$ (4,144)	$ 8,973	$ 16,949	$ 666
(Loss) earnings per common share:
Basic	$ (0.03)	$ 0.06	$ 0.11	$ 0
Diluted	$ (0.03)	$ 0.06	$ 0.11	$ 0
Weighted-average number of common shares outstanding
Basic	153,878	149,834	149,831	151,578
Diluted	153,878	149,834	149,831	151,716
Dividends declared per common share	$ 0.60	$ 0.60	$ 1.04	$ 1.80
Leasing
Revenues:
Total revenues	$ 169,525	$ 166,959	$ 291,131	$ 507,216
Costs and Expenses:
Depreciation and amortization	86,208	86,307	150,108	257,557
Fiber Infrastructure
Revenues:
Total revenues	25,219			38,995
Costs and Expenses:
Depreciation and amortization	9,701			15,448
Consumer CLEC
Revenues:
Total revenues	5,496	6,675	11,251	17,277
Costs and Expenses:
Depreciation and amortization	$ 814	$ 964	$ 1,607	$ 2,443

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Comprehensive Income (Loss) (unaudited) - USD ($) $ in Thousands	3 Months Ended		5 Months Ended	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2015	Sep. 30, 2016
Statement Of Income And Comprehensive Income [Abstract]
Net (loss) income	$ (2,343)	$ 9,403	$ 17,704	$ 4,158
Other comprehensive (loss) income:
Unrealized (loss) gain on derivative contracts	(1,870)	(42,544)	(13,993)	(63,331)
Changes in foreign currency translation	(101)			(180)
Other comprehensive (loss) income	(1,971)	(42,544)	(13,993)	(63,511)
Comprehensive (loss) gain	$ (4,314)	$ (33,141)	$ 3,711	$ (59,353)

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Shareholders' Deficit (unaudited) - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Loss	Distributions in Excess of Accumulated Earnings
Beginning balance, value at Apr. 23, 2015	$ 2,508,420	$ 15			$ 2,508,405
Beginning balance, shares at Apr. 23, 2015		149,827,214
Net income	17,704				17,704
Distributions to Windstream related to Spin-Off	(3,447,879)				(3,447,879)
Other comprehensive loss	(13,993)			$ (13,993)
Common stock dividends	(156,926)				(156,926)
Equity issuance cost	(629)		$ (516)		(113)
Stock-based compensation	1,117		1,117
Stock-based compensation, shares		8,413
Ending balance, value at Sep. 30, 2015	(1,092,186)	$ 15	601	(13,993)	(1,078,809)
Ending balance, shares at Sep. 30, 2015		149,835,627
Beginning balance, value at Dec. 31, 2015	(1,166,906)	$ 15	1,392	(5,427)	(1,162,886)
Beginning balance, shares at Dec. 31, 2015		149,862,459
Net income	4,158				4,158
Issuance of common stock, net of costs	137,665		137,665
Issuance of common stock, net of costs, shares		5,077,629
Amortization of discount on convertible preferred stock	(1,241)		(1,241)
Other comprehensive loss	(63,511)			(63,511)
Common stock dividends	(276,567)				(276,567)
Convertible preferred stock dividends	(1,087)				(1,087)
Equity issuance cost	(625)		(625)
Net share settlement	(2,123)		(203)		(1,920)
Stock-based compensation	3,478		3,478
Stock-based compensation, shares		183,072
Ending balance, value at Sep. 30, 2016	$ (1,366,759)	$ 15	$ 140,466	$ (68,938)	$ (1,438,302)
Ending balance, shares at Sep. 30, 2016		155,123,160

Condensed Consolidated Stateme7

Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($) $ in Thousands		5 Months Ended	9 Months Ended
		Sep. 30, 2015	Sep. 30, 2016
Cash flow from operating activities
Net income		$ 17,704	$ 4,158
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization		151,715	275,448
Amortization of deferred financing costs		3,039	5,640
Amortization of debt discount		3,253	5,964
Deferred income taxes		(672)	836
Straight-line rental revenues		(7,497)	(13,174)
Stock-based compensation		1,117	3,478
Other			22
Changes in assets and liabilities, net of acquisitions:
Accounts receivable		217	(4,435)
Other assets		(1,664)	(4,951)
Accounts payable, accrued expenses and other liabilities		54,047	27,565
Net cash provided by operating activities		221,259	300,551
Cash flow from investing activities
Acquisition of businesses, net of cash acquired			(489,538)
Consideration paid to Windstream Services, LLC		(1,035,029)
Capital expenditures	[1]	(712)	(19,204)
Net cash used in investing activities		(1,035,741)	(508,742)
Cash flow from financing activities
Principal payment on debt		(5,350)	(16,744)
Dividends paid		(66,522)	(273,692)
Proceeds from issuance of Term Loans		1,127,000
Proceeds from issuance of Notes			148,875
Borrowings under revolving credit facility			521,000
Payments under revolving credit facility			(321,000)
Capital lease payments			(945)
Deferred financing costs		(30,018)	(2,946)
Common stock issuance, net of costs		(516)	54,211
Net share settlement		(113)	(2,123)
Cash in-lieu of fractional shares		(19)
Net cash provided by financing activities		1,024,462	106,636
Effect of exchange rates on cash and cash equivalents			(181)
Net (decrease) increase in cash and cash equivalents		209,980	(101,736)
Cash and cash equivalents at beginning of period		18	142,498
Cash and cash equivalents at end of period		209,998	40,762
Supplemental cash flow information:
Cash paid for interest		58,600	158,695
Cash paid for income taxes			2,522
Non-cash investing and financing activities:
Property and equipment acquired but not yet paid			4,403
Tenant capital improvements		41,289	112,200
Acquisition of businesses through non-cash consideration			$ 259,996
Issuance of notes and other debt to Windstream Services, LLC, net of deferred financing costs ($34,681)		$ 2,412,829
[1]	Segment capital expenditures represents capital expenditures as reported in the investing activities section of the Statement of Cash Flows.

Condensed Consolidated Stateme8

Condensed Consolidated Statements of Cash Flows (Parenthetical) (unaudited) $ in Thousands	5 Months Ended
	Sep. 30, 2015USD ($)
Deferred financing costs	$ 30,018
Windstream Services LLC
Deferred financing costs	$ 34,681

Statements of Revenues and Dire

Statements of Revenues and Direct Expenses (unaudited) $ in Thousands	4 Months Ended
	Apr. 23, 2015USD ($)
Consumer CLEC Business
Revenues	$ 10,149
Direct expenses:
Cost of revenues	5,552
Selling, general, and administrative	22
Amortization	1,283
Total costs and expenses	6,857
Revenues in Excess of Direct Expenses	$ 3,292

Organization and Description of

Organization and Description of Business	9 Months Ended
	Sep. 30, 2016
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Organization and Description of Business	Note 1. Organization and Description of Business CS&L was incorporated in the state of Maryland on September 4, 2014 as a subsidiary of Windstream. In connection with the Spin-Off, Windstream and CS&L entered into a long-term, triple-net lease (the “Master Lease”) pursuant to which CS&L leases the Distribution Systems to Windstream. The assets and liabilities of the Distribution Systems and Consumer CLEC Business were recorded in our Condensed Consolidated Financial Statements on a carryover basis as of the date of the Spin-Off. CS&L is an independent, internally managed REIT engaged in the acquisition and construction of mission critical infrastructure in the communications industry. The Company is principally focused on acquiring and constructing fiber optic broadband networks, wireless communications towers, copper and coaxial broadband networks and data centers. Through our fiber infrastructure group, Uniti Fiber, the Company has also become a leading provider of infrastructure solutions, including cell site backhaul and dark fiber, to the telecommunications industry. The Consumer CLEC Business, which was reported as an integrated operation within Windstream prior to the Spin-Off, offers voice, broadband, long-distance, and value-added services to residential customers located primarily in rural locations. Substantially all of the network assets used to provide these services to customers are contracted through interconnection agreements with other telecommunications carriers. The Company operates as a REIT for U.S. federal income tax purposes. As a REIT, the Company is generally not subject to U.S. federal income taxes on income generated by its REIT operations, which includes income derived from the Master Lease. We have elected to treat certain indirect, wholly-owned subsidiaries of CS&L through which we operate Uniti Fiber and the Consumer CLEC Business as taxable REIT subsidiaries (“TRSs”). TRSs enable us to engage in activities that do not result in income that would be qualifying income for a REIT. Our TRSs are subject to U.S. federal, state and local corporate income taxes.

Basis of Presentation and Summa

Basis of Presentation and Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2016
Accounting Policies [Abstract]
Basis of Presentation and Summary of Significant Accounting Policies	Note 2. Basis of Presentation and Summary of Significant Accounting Policies The accompanying Condensed Consolidated Financial Statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information set forth in the Accounting Standards Codification (“ASC”), as published by the Financial Accounting Standards Board (“FASB”), and with the applicable rules and regulations of the Securities and Exchange Commission (“SEC”). Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair statement of results for the interim period have been included. Operating results from any interim period are not necessarily indicative of the results that may be expected for the full fiscal year. The accompanying 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 for the year ended December 31, 2015 (“Annual Report”), filed with the SEC on March 7, 2016. Accordingly, significant accounting policies and other disclosures normally provided have been omitted from the accompanying Condensed Consolidated Financial Statements and related notes since such items are disclosed in our Annual Report. All material intercompany balances and transactions have been eliminated. Income Taxes We have filed our initial U.S. federal and state income tax returns which are subject to examination. Business Combinations Business Combinations acquisitions meeting the definition of a business combination, where assets acquired and liabilities assumed are recorded at fair value at the date of each acquisition, and the results of operations are included with those of the Company from the dates of the respective acquisitions. Any excess of the purchase price paid by the Company over the amounts recognized for assets acquired and liabilities assumed is recorded as goodwill. ASC 805 also requires acquirers, among other things, to estimate the acquisition date fair value of any contingent consideration and to recognize any subsequent changes in the fair value of contingent consideration in earnings. The Company continues to evaluate acquisitions for a period not to exceed one year after the applicable acquisition date of each transaction to determine whether any additional adjustments are needed to the allocation of the purchase price paid for the assets acquired and liabilities assumed. Goodwill — Intangibles-Goodwill and Other Property, Plant and Equipment — at original cost, net of accumulated depreciation. The Company capitalizes costs incurred in bringing property, plant and equipment to an operational state, including all activities directly associated with the acquisition, construction, and installation of the related assets it owns. The Company also enters into leasing arrangements providing for the long‑term use of constructed fiber that is then integrated into the Company’s network infrastructure. For each lease that qualifies as a capital lease, the present value of the lease payments, which may include both periodic lease payments over the term of the lease as well as upfront payments to the lessor, is capitalized at the inception of the lease and included in property and equipment. Certain property, plant and equipment are depreciated using a group composite depreciation method. Under this method, when property is retired, the original cost, net of salvage value, is charged against accumulated depreciation and no immediate gain or loss is recognized on the disposition of the property. For all other property, which includes amortization of capital lease assets, depreciation is computed using the straight-line method over the estimated useful life of the respective property. When the property is retired or otherwise disposed of, the related cost and accumulated depreciation are written-off, with the corresponding gain or loss reflected in operating results. Costs of maintenance and repairs to property, plant and equipment subject to the Master Lease are the responsibility of our tenant. Costs of maintenance and repairs to property, plant and equipment not subject to triple-net leasing arrangements are expensed as incurred. We acquire real property interests from third parties who own land where communications infrastructure assets are located and desire to monetize the underlying real property. These real property interests entitle us to receive rental payments from leases on our sites. The financial results of the acquired real property interests are included in the Leasing segment from the date of acquisition and were not material, individually or in the aggregate, to our results of operations. Real property interests are recorded in real estate investments on our Condensed Consolidated Balance Sheet. Foreign Currency Translation The financial statements of our international subsidiaries whose functional currency is the local currency are translated into U.S. dollars using the exchange rate at the balance sheet date for assets and liabilities and the weighted average exchange rate for the applicable period for revenues, expenses, gains and losses. Translation adjustments are recorded as a separate component of comprehensive income in stockholders’ equity. Reclassifications See Note 15 Transaction Related Costs Recently Issued Accounting Standards In May 2014, the FASB issued Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers The Company is in the process of evaluating this guidance to determine the impact it will have on our financial statements. In February 2016, the FASB issued ASU No. 2016-02, Leases (“ASC 842”), which sets out the principles for the recognition, measurement, presentation and disclosure of leases for both parties to a contract (i.e. lessees and lessors). The new standard requires lessees to apply a dual approach, classifying leases as either finance or operating leases based on the principle of whether or not the lease is effectively a financed purchase by the lessee. This classification will determine whether lease expense is recognized based on an effective interest method or on a straight line basis over the term of the lease. A lessee is also required to record a right-of-use asset and a lease liability for all leases with a term of greater than 12 months regardless of their classification. Leases with a term of 12 months or less will be accounted for similar to existing guidance for operating leases today. ASC 842 is effective for fiscal years and interim periods beginning after December 15, 2018, and early adoption is permitted. The Company is in the process of evaluating this guidance to determine the impact it will have on our financial statements. In March 2016, the FASB issued ASU No. 2016-09, Improvements to Employee Share-Based Payment Accounting ASU 2016-09 simplifies several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. ASU 2016-09 is effective for fiscal years beginning after December 15, 2016, and interim periods within those fiscal years and early adoption is permitted. We adopted ASU 2016-09 effective April 1, 2016, and will reverse compensation cost of forfeited awards as they occur. At the time of adoption, we had not experienced any forfeited awards and therefore no cumulative-effect adjustment was necessary. In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments

Business Combinations

Business Combinations	9 Months Ended
	Sep. 30, 2016
Business Combinations [Abstract]
Business Combinations	Note 3. Business Combinations Tower Cloud, Inc. On August 31, 2016, we acquired 100% of the outstanding equity of Tower Cloud, Inc. (“Tower Cloud”) for $187.7 million in cash and 1.9 million shares of our common stock with an acquisition date fair value of $58.5 million. Additional contingent consideration of up to $130 million, with an acquisition date fair value of $98.6 million, may be paid upon the achievement of certain defined operational and financial milestones. See Note 4 . At the Company’s discretion, a combination of cash and CS&L common shares may be used to satisfy the contingent consideration payments, provided that at least 50% of the aggregate amount of payments is satisfied in cash. Tower Cloud provides data transport services, with particular focus on providing infrastructure solutions to the wireless and enterprise sectors, including fiber-to-the-tower backhaul, small cell networks, and dark fiber deployments. Following the close of the transaction, the Tower Cloud business and the previously acquired PEG Bandwidth LLC (“PEG Bandwidth”) business were combined into a unified fiber infrastructure organization, Uniti Fiber. The operating results from this acquisition are included in the condensed consolidated financial statements from the acquisition date. The acquisition was recorded by allocating the costs of the assets acquired based on their estimated fair values at the acquisition date. The excess of the cost of the acquisition over the fair value of the assets acquired is recorded as goodwill within our Fiber Infrastructure segment. See Note 7 . The following is a summary of the estimated fair values of the assets acquired and liabilities assumed: (thousands) Property, plant and equipment $ 163,680 Cash and cash equivalents 14,346 Accounts receivable 3,043 Other assets 2,595 Intangible assets 116,218 Accounts payable, accrued expenses and other liabilities (16,782 ) Deferred revenue (23,900 ) Deferred income taxes (24,840 ) Capital lease obligations (6,750 ) Net assets acquired $ 227,610 Goodwill $ 117,254 The above purchase price allocation is considered preliminary and is subject to revision when the valuation of assets and liabilities are finalized upon receipt of the final valuation report from a third party valuation expert, and resolution of contractual adjustments, such as working capital adjustments, set forth in the merger agreement. The goodwill is primarily attributable to strategic opportunities that arose from the acquisition of Tower Cloud. The acquisition was treated as a taxable acquisition of the outstanding stock of Tower Cloud, Inc. Thus, none of the goodwill is expected to be deductible for tax purposes. We acquired an intangible asset that was assigned to customer relationships of $ 116.2 million (30 year life). Tower Cloud had federal net operating loss (“NOL”) carryforwards of approximately $81.2 million at the date of the acquisition, which will expire between 2026 and 2036. As a result of the change in ownership, the utilization of NOL carryforwards is subject to limitations imposed by the Internal Revenue Code. The gross deferred tax assets associated with the NOL and other temporary differences as of August 31, 2016 were approximately $37.0 million, with respect to which we have determined that a valuation allowance is not required The acquired business contributed revenue of $3.5 million and an operating loss of $0.4 million, 2016 of $5.4 million and $8.9 million, respectively The following table presents the unaudited pro forma summary of our financial results as if the business combination had occurred on April 24, 2015. The pro forma results include additional depreciation and amortization resulting from purchase accounting adjustments, adjustments to amortized deferred revenue, and interest expense associated with debt used to fund the acquisition. The pro forma results do not include any synergies or other benefits of the acquisition. The pro forma results are not indicative of future results of operations, or results that might have been achieved had the acquisition been consummated as of April 24, 2015. Three Months Ended September 30, Nine Months Ended Period from April 24 - (Thousands, except per share data) 2016 2015 September 30, 2016 September 30, 2015 Pro forma revenue $ 207,142 $ 184,728 $ 591,185 $ 333,226 Pro forma net (loss) income (1,820 ) 6,585 (5,744 ) 9,773 Pro forma net (loss) income per share $ (0.01 ) $ 0.04 $ (0.04 ) $ 0.06 Windstream Towers On May 12, 2016, PEG Bandwidth, LLC On May 2, 2016, we acquired 100% of the outstanding equity of PEG Bandwidth for $323 million in cash, the issuance of 87,500 shares of our 3.00% Series A Convertible Preferred Stock with a fair value of $78.6 million and 1 million shares of our common stock with an acquisition date fair value of $23.2 million. PEG Bandwidth is a leading provider of infrastructure solutions, including cell site backhaul and dark fiber, to the telecommunications industry. The operating results from this acquisition are included in the condensed consolidated financial statements from the acquisition date. The acquisition was recorded by allocating the costs of the assets acquired based on their estimated fair values at the acquisition date. The excess of the cost of the acquisition over the fair value of the assets acquired is recorded as goodwill within our Fiber Infrastructure segment. See Note 7 (thousands) Property, plant and equipment $ 293,415 Cash and cash equivalents 7,003 Accounts receivable 6,230 Other assets 5,161 Intangible assets 38,000 Accounts payable, accrued expenses and other liabilities (9,075 ) Deferred revenue (12,700 ) Capital lease obligations (49,195 ) Net assets acquired $ 278,839 Goodwill $ 146,205 The above purchase price allocation is considered preliminary and is subject to revision upon resolution of contractual adjustments, such as working capital adjustments, set forth in the merger agreement. The goodwill is primarily attributable to strategic opportunities that arose from the acquisition of PEG Bandwidth. The goodwill is expected to be deductible for tax purposes. Of the $38 million of acquired intangible assets, $36 million was assigned to customer relationships (weighted average 17 year life) and $2 million was assigned to trademarks (indefinite life). The acquired business contributed revenues of $35.5 million and an operating loss of $0.6 million, which $10.5 million for the three and nine months ended September 30, 2016 The following table presents the unaudited pro forma summary of our financial results as if the business combination had occurred on April 24, 2015. The pro forma results include additional depreciation and amortization resulting from purchase accounting adjustments, adjustments to amortized deferred revenue, and interest expense associated with debt used to fund the acquisition. The pro forma results do not include any synergies or other benefits of the acquisition. The pro forma results are not indicative of future results of operations, or results that might have been achieved had the acquisition been consummated as of April 24, 2015. Three Months Ended Nine Months Ended Period from April 24 - (Thousands, except per share data) September 30, 2015 September 30, 2016 September 30, 2015 Pro forma revenue $ 192,968 $ 590,717 $ 336,035 Pro forma net income (loss) 6,399 (3,349 ) 12,624 Pro forma net income (loss) per share $ 0.04 $ (0.02 ) $ 0.08 Summit Wireless Infrastructure, LLC On January 22, 2016, we acquired 100% of the outstanding equity of Summit Wireless Infrastructure LLC (“Summit”). Summit builds, owns and operates telecommunication infrastructure serving wireless carriers in Mexico. Consideration given to acquire Summit included performance-based shares of common equity valued at $1.1 million, which will vest in full on the third anniversary of the closing date, subject to Summit meeting certain performance targets, and the assumption of Summit’s existing debt.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	9 Months Ended
	Sep. 30, 2016
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	Note 4. Fair Value of Financial Instruments FASB ASC 820, Fair Value Measurements Level 1 – Quoted prices (unadjusted) in active markets for identical assets or liabilities that the reporting entity can access at the assessment date Level 2 – Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly Level 3 – Unobservable inputs for the asset or liability Our financial instruments consist of cash and cash equivalents, accounts and other receivables, a derivative liability, our outstanding notes and other debt, and accounts, interest and dividends payable. The following table summarizes the fair value of our financial instruments at September 30, 2016 and December 31, 2015: (Thousands) Total Quoted Prices in Active Markets (Level 1) Prices with Other Observable Inputs (Level 2) Prices with Unobservable Inputs (Level 3) At September 30, 2016 Liabilities Senior secured notes - 6.00%, due April 15, 2023 $ 569,250 $ - $ 569,250 $ - Senior unsecured notes - 8.25%, due October 15, 2023 1,159,950 - 1,159,950 - Senior secured term loan B - variable rate, due October 24, 2022 2,121,280 - 2,121,280 - Senior secured revolving credit facility, variable rate, due April 24, 2020 200,000 - 200,000 - Derivative liability 68,758 - 68,758 - Contingent consideration 98,600 - - 98,600 Total $ 4,217,838 $ - $ 4,119,238 $ 98,600 (Thousands) Total Quoted Prices in Active Markets (Level 1) Prices with Other Observable Inputs (Level 2) Prices with Unobservable Inputs (Level 3) At December 31, 2015 Liabilities Senior secured notes - 6.00%, due April 15, 2023 $ 376,000 $ - $ 376,000 $ - Senior unsecured notes - 8.25%, due October 15, 2023 937,950 - 937,950 - Senior secured term loan B - variable rate, due October 24, 2022 1,986,198 - 1,986,198 - Derivative liability 5,427 - 5,427 - Total $ 3,305,575 $ - $ 3,305,575 $ - The carrying value of cash and cash equivalents, accounts and other receivables, and accounts, interest and dividends payable approximate fair values due to the short-term nature of these financial instruments. The total principal balance of our Notes and other debt was $3.97 billion at September 30, 2016, with a fair value of $4.05 billion. The estimated fair value of our Notes and other debt was based on available external pricing data and current market rates for similar debt instruments, among other factors, which are classified as Level 2 inputs within the fair value hierarchy. Derivative liabilities are carried at fair value. See Note 6 As part of the acquisition of Tower Cloud on August 31, 2016, we may be obligated to pay contingent consideration upon achievement of certain defined operational and financial milestones; therefore, we recorded the estimated fair value of future contingent consideration of $98.6 million as of August 31, 2016. The fair value of the contingent consideration as of August 31, 2016, was determined using a discounted cash flow model and probability adjusted estimates of the future earnings and is classified as Level 3. Changes in the fair value of contingent consideration will be recorded in our Condensed Consolidated Statement of Income in the period in which the change occurs. There was no change in the fair value of the contingent consideration as of September 30, 2016. The following is a roll forward of our liability measured at fair value on a recurring basis using unobservable inputs (Level 3): (Thousands) December 31, 2015 Transfers into Level 3 Gain/(Loss) included in earnings Settlements September 30, 2016 Contingent consideration $ - $ 98,600 $ - $ - $ 98,600

Property, Plant and Equipment

Property, Plant and Equipment	9 Months Ended
	Sep. 30, 2016
Property Plant And Equipment [Abstract]
Property, Plant and Equipment	Note 5. Property, Plant and Equipment The carrying value of property, plant and equipment is as follows: (Thousands) Depreciable Lives September 30, 2016 December 31, 2015 Land $ 34,295 $ 33,386 Building and improvements 3 - 40 years 314,577 313,736 Real property interests 50 years 2,394 - Poles 13 - 40 years 231,835 228,031 Fiber 7 - 40 years 2,217,760 1,948,192 Equipment 5 - 7 years 127,496 - Copper 7 - 40 years 3,518,283 3,475,987 Conduit 13 - 47 years 90,538 89,460 Tower assets 20 - 49 years 7,307 - Capital lease assets See Note 2 88,999 - Construction in progress 44,693 4,749 6,678,177 6,093,541 Less accumulated depreciation (3,984,036 ) (3,720,890 ) Net property, plant and equipment $ 2,694,141 $ 2,372,651 Depreciation expense for the three and nine months ended September 30, 2016 was $95.0 million and $271.7 million, respectively. Depreciation expense for the three months ended September 30, 2015 and for the period from April 24, 2015 to September 30, 2015 was $86.2 million and $150.0 million, respectively. As of September 30, 2016, construction in progress includes approximately $1.3 million of in process capital projects that were transferred to us at the time of the Spin-Off. As Windstream completes these projects, amounts are reclassified to depreciable assets. All construction in progress at December 31, 2015 related to projects transferred to us at the time of the Spin-Off.

Derivative Instruments and Hedg

Derivative Instruments and Hedging Activities	9 Months Ended
	Sep. 30, 2016
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Derivative Instruments and Hedging Activities	Note 6. Derivative Instruments and Hedging Activities The Company uses derivative instruments to mitigate the effects of interest rate volatility inherent in our variable rate debt, which could unfavorably impact our future earnings and forecasted cash flows. The Company does not use derivative instruments for speculative or trading purposes. On April 27, 2015, we entered into fixed for floating interest rate swap agreements to mitigate the interest rate risk inherent in our variable rate Senior Secured Term Loan B facility. These interest rate swaps are designated as cash flow hedges and have a notional value of $2.12 billion and mature on October 24, 2022. The weighted average fixed rate paid is 2.105%, and the variable rate received resets monthly to the one-month LIBOR subject to a minimum rate of 1.0%. The Company does not currently have any master netting arrangements related to its derivative contracts. The following table summarizes the fair value and the presentation in our Condensed Consolidated Balance Sheet: (Thousands) Location on Condensed Consolidated Balance Sheet September 30, 2016 December 31, 2015 Interest rate swaps Derivative liability $ 68,758 $ 5,427 As of September 30, 2016 and December 31, 2015, all of the interest rate swaps were valued in net unrealized loss positions and recognized as liability balances within the derivative liability balance. For the three and nine months ended September 30, 2016, the amount recorded in other comprehensive income related to the unrealized loss on derivative instruments was $7.8 million and $81.2 million, respectively. The amount reclassified out of other comprehensive income into interest expense on our Con densed Consolidated Statement of Income For the three months ended September 30, 2015 and for the period from April 24, 2015 to September 30, 2015, the amount recorded in other comprehensive income related to the unrealized loss on derivative instruments was $36.5 million and $3.7 million, respectively. The amount reclassified out of other comprehensive income into interest expense on our Condensed Consolidated Statement of Income for the three months ended September 30, 2015 and for the period from April 24, 2015 to September 30, 2015 was $6.0 million and $10.3 million, respectively. For the period from April 24, 2015 to September 30, 2015, there was no ineffective portion of the change in fair value derivatives. Amounts reported in accumulated other comprehensive income (loss) related to derivatives will be reclassified to interest expense as interest payments are made on our variable-rate debt. During the next twelve months, beginning October 1, 2016, we estimate that $23.9 million will be reclassified as an increase to interest expense.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	9 Months Ended
	Sep. 30, 2016
Goodwill And Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Note 7. Goodwill and Intangible Assets Changes in the carrying amount of goodwill occurring during the nine months ended September 30, 2016, are as follows: (Thousands) Fiber Infrastructure Total Goodwill at December 31, 2015 $ - $ - Goodwill associated with 2016 acquisitions 263,459 263,459 Goodwill at September 30, 2016 $ 263,459 $ 263,459 The carrying value of the intangible assets is as follows: (Thousands) September 30, 2016 December 31, 2015 Cost Accumulated Amortization Cost Accumulated Amortization Indefinite life intangible assets: Trade name $ 2,000 $ - $ - $ - Finite life intangible assets: Customer lists 188,642 (27,701 ) 34,501 (23,971 ) Total intangible assets 190,642 34,501 Less: Accumulated amortization (27,701 ) (23,971 ) Total intangible assets, net $ 162,941 $ 10,530 Amortization expense for the three and nine months ended September 30, 2016 was $1.7 million and $3.7 million, respectively. Amortization expense for the customer list intangible assets was $0.9 million and $1.6 million for the three months ended September 30, 2015 and for the period from April 24, 2015 to September 30, 2015, respectively. Amortization expense is estimated to be $6.1 million for the full year of 2016, $8.7 million in 2017, $8.1 million in 2018, $7.5 million in 2019, $7.0 million in 2020 and $6.5 million in 2021.

Notes and Other Debt

Notes and Other Debt	9 Months Ended
	Sep. 30, 2016
Long Term Debt [Abstract]
Notes and Other Debt	Note 8. Notes and Other Debt Notes and other debt is as follows: (Thousands) September 30, 2016 December 31, 2015 Principal amount $ 3,973,250 $ 3,639,300 Less unamortized discount and debt issuance costs (126,539 ) (134,072 ) Notes and other debt less unamortized discount and debt issuance costs $ 3,846,711 $ 3,505,228 Notes and other debt at September 30, 2016 and December 31, 2015 consisted of the following: September 30, 2016 December 31, 2015 (Thousands) Principal Unamortized Discount and Debt Issuance Costs Principal Unamortized Discount and Debt Issuance Costs Senior secured notes - 6.00%, due April 15, 2023 (discount is based on imputed interest rate of 6.29%) $ 550,000 (10,127 ) $ 400,000 $ (6,767 ) Senior unsecured notes - 8.25%, due October 15, 2023 (discount is based on imputed interest rate of 9.06%) 1,110,000 (46,746 ) 1,110,000 (50,200 ) Senior secured term loan B - variable rate, due October 24, 2022 (discount is based on imputed interest rate of 5.66%) 2,113,250 (69,666 ) 2,129,300 (77,105 ) Senior secured revolving credit facility - variable rate, due April 24, 2020 200,000 - - - Total $ 3,973,250 $ (126,539 ) $ 3,639,300 $ (134,072 ) On April 22, 2016, the Company borrowed $321 million under our $500 million senior secured revolving credit facility maturing April 24, 2020 (the “Revolving Credit Facility”) to fund the cash portion of consideration paid to acquire PEG Bandwidth and related transaction costs. See Note 3 On June 9, 2016, we, along with our wholly-owned subsidiary CSL Capital, LLC (“CSL Capital”), co-issued $150 million aggregate principal amount of 6.00% Senior Secured Notes (the “add-on Notes”) as an add-on to the Company’s existing Senior Secured Notes due April 15, 2023 (the “Senior Secured Notes”). The add-on Notes were issued at an issue price of 99.25% of par value, are subject to the same customary covenant requirements as the existing Senior Secured Notes, and are guaranteed by each of CS&L’s wholly-owned domestic subsidiaries that guarantee indebtedness under CS&L’s senior credit facilities. The issuance of the add-on Notes was not registered under the Securities Act of 1933, as amended (the “Securities Act”), but was exempt from registration under Rule 144A, Regulation S and other applicable exemptions of the Securities Act. Proceeds from the issuance of the add-on Notes were used to repay existing borrowings under the Revolving Credit Facility. On August 26, 2016, the Company borrowed $150 million under the Revolving Credit Facility to fund the cash portion of consideration paid to acquire Tower Cloud and related transaction costs. See Note 3 On April 24, 2015 we, along with CSL Capital, co-issued $400 million aggregate principal amount of Senior Secured Notes and $1.11 billion aggregate principal amount of 8.25% Senior Unsecured Notes due October 15, 2023 (the “Senior Unsecured Notes” and together with the Senior Secured Notes, the “Notes”). The Senior Secured Notes were issued at an issue price of 100% of par value, while the Senior Unsecured Notes were issued at an issue price of 97.055% of par value. The Notes are guaranteed by each of CS&L’s wholly-owned domestic subsidiaries that guarantee indebtedness under CS&L’s senior credit facilities. The Notes were issued to Windstream Services, LLC, a wholly-owned subsidiary of Windstream Holdings (“Windstream Services”), as partial consideration for the contribution of the Distribution Systems and the Consumer CLEC Business in connection with the Spin-Off. As such, CS&L did not receive any proceeds from the issuance of the Notes. The issuance of the Notes and their exchange by Windstream Services for certain of its outstanding indebtedness were not registered under the Securities Act, but were exempt from registration under Rule 144A, Regulation S and other applicable exemptions of the Securities Act. Pursuant to a registration rights agreement entered into by the Company in connection with the sale of the Senior Unsecured Notes, the Company subsequently filed with the SEC a registration statement relating to an exchange offer pursuant to which 8.25% Senior Notes due 2023 (the “Exchange Notes”) that were registered with the SEC, were offered in exchange for Senior Unsecured Notes tendered by the holders of those notes. The terms of the Exchange Notes are substantially identical to the terms of the Senior Unsecured Notes in all material respects, except that the Exchange Notes are registered under the Securities Act, and the transfer restrictions, registration rights and additional interest provision applicable to the Senior Unsecured Notes do not apply to the Exchange Notes. The exchange offer was launched on August 5, 2015, and completed on September 2, 2015, with all outstanding Senior Unsecured Notes being tendered and exchanged for Exchange Notes. The Notes contain customary high yield covenants limiting our ability to incur or guarantee additional indebtedness; incur or guarantee secured indebtedness; pay dividends or distributions on, or redeem or repurchase, capital stock; make certain investments or other restricted payments; sell assets; enter into transactions with affiliates; merge or consolidate or sell all or substantially all of our assets; and create restrictions on the ability of CS&L, CSL Capital and our restricted subsidiaries to pay dividends. The covenants are subject to a number of important and significant limitations, qualifications and exceptions. As of September 30, 2016, we were in compliance with all of the covenants under the Notes. In addition, on April 24, 2015, the Company and CSL Capital entered into a credit agreement (the “Credit Agreement”), which provides for a $2.14 billion Senior Secured Term Loan B facility due October 24, 2022 (the “Term Loan Facility”) and the Revolving Credit Facility (together with the Term Loan Facility, the “Facilities”). The term loans under the Facilities were issued at an issue price of 98.00% of par value, bear interest at a rate equal to a Eurodollar rate, subject to a 1.0% floor, plus an applicable margin equal to 4.00%, and are subject to amortization of 1.0% per annum. The loans have been incurred by the Company and CSL Capital, are guaranteed by certain of CS&L’s wholly-owned subsidiaries (the “Guarantors”), and are secured by substantially all of the assets of CS&L, CSL Capital and the Guarantors, subject to certain exceptions, which assets also secure the Senior Secured Notes. The Revolving Credit Facility bears interest at a rate equal to LIBOR plus 1.75% to 2.25% based on our consolidated secured leverage ratio, as defined in the Credit Agreement. We are subject to customary covenants under the Credit Agreement, including an obligation to maintain a consolidated secured leverage ratio, as defined in the Credit Agreement, not to exceed 5.00 to 1.00. We are permitted, subject to customary conditions, to incur incremental term loan borrowings and/or increased commitments under the Credit Agreement in an aggregate amount equal to $150 million plus an unlimited amount, so long as, on a pro forma basis after giving effect to any such increases, our consolidated total leverage ratio, as defined in the Credit Agreement, does not exceed 6.50 to 1.00 and our consolidated secured leverage ratio, as defined in the Credit Agreement, does not exceed 4.00 to 1.00. As of September 30, 2016, we were in compliance with all of the covenants under the Credit Agreement. The Company transferred $1.04 billion of cash proceeds under the Facilities to Windstream Services, the Company’s parent immediately preceding the Spin-Off, as partial consideration for the contribution of the Distribution Systems and the Consumer CLEC Business in connection with the Spin-Off. Deferred financing costs were incurred in connection with the issuance of the Notes and the Facilities. These costs are amortized using the effective interest method over the term of the related indebtedness, and are included in interest expense in our Condensed Consolidated Statement of Income. For the three months and nine months ended September 30, 2016, we recognized $2.0 million and $5.6 million of non-cash interest expense related to the amortization of deferred financing costs, respectively. For the period from April 24, 2015 to September 30, 2015, we recognized $3.0 million of non-cash interest expense related to the amortization of deferred financing costs.

Capital Stock

Capital Stock	9 Months Ended
	Sep. 30, 2016
Equity [Abstract]
Capital Stock	Note 9. Capital Stock On August 31, 2016, we issued 1.9 million shares of our common stock, par value $0.0001 per share, as partial consideration for all outstanding equity interests of Tower Cloud. See Note 3 On June 24, 2016, in connection with Windstream’s disposition of its retained ownership interest in CS&L pursuant to the public offering ( See Note 10 On May 2, 2016, we issued 1 million shares of our common stock, par value $0.0001 per share, as partial consideration for all outstanding equity interests of PEG Bandwidth. See Note 3.

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 2016
Related Party Transactions [Abstract]
Related Party Transactions	Note 10. Related Party Transactions In connection with the Spin-Off, we issued approximately 149.8 million shares of our common stock to Windstream Services as partial consideration for the contribution of the Distribution Systems and the Consumer CLEC Business. Windstream Holdings distributed approximately 80.4% of the CS&L shares it received to existing stockholders of Windstream Holdings and retained a passive ownership interest of approximately 19.6% of the common stock of CS&L. As a result of this ownership Windstream was deemed to be a related party. On June 15, 2016, Windstream Holdings disposed of 14.7 million shares of our common stock, representing approximately half of its retained ownership interest. On June 24, 2016, Windstream Holdings disposed of its remaining 14.7 million shares of our common stock as part of a public offering. The Company did not receive any proceeds resulting from the disposition of these shares. Accordingly, Windstream is no longer deemed a related party under applicable accounting regulations. Our condensed consolidated financial statements reflect the following transactions with Windstream during the periods in which Windstream was deemed a related party. Revenues General and Administrative Expenses Operating Expenses For the period from April 24, 2015 to September 30, 2015 we incurred expenses of $6.5 million and $0.7 million related to the Wholesale Agreement and Master Services Agreement, respectively. Accounts Receivable Dividend Payable Employee Matters Agreement Tower Purchase Lease Amendment ownership rights in certain fiber assets or an IRU in certain fiber assets that constitute leased property under the Master Lease in exchange for CS&L receiving ownership rights in certain fiber assets or an IRU in certain fiber assets of the third party, which we will then lease to Windstream as leased property under the Master Lease third party or the granting of rights to the leased property that arise from fiber exchange agreements. As of June 30, 2016, no such transactions had been consummated. The Master Lease Amendment also permits us to install, own and operate certain wireless communication towers, antennas and related equipment on designated portions of the leased property

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2016
Earnings Per Share [Abstract]
Earnings Per Share	Note 11. Earnings Per Share Our restricted stock awards are considered participating securities as they receive non-forfeitable rights to dividends at the same rate as common stock. As participating securities, we included these instruments in the computation of earnings per share under the two-class method described in FASB ASC 260, Earnings per Share We also have outstanding performance-based restricted stock units that contain forfeitable rights to receive dividends. Therefore, the awards are considered non-participating restrictive shares and are not dilutive under the two-class method until performance conditions are met. The earnings per share impact of the Series A Shares ( See Note 9 The following sets forth the computation of basic and diluted earnings per share under the two-class method: Three Months Ended September 30, Nine Months Ended Period from April 24 - (Thousands, except per share data) 2016 2015 September 30, 2016 September 30, 2015 Basic earnings per share: Numerator: Net (loss) income $ (2,343 ) $ 9,403 $ 4,158 $ 17,704 Less: Income allocated to participating securities (407 ) (430 ) (1,164 ) (755 ) Dividends declared on convertible preferred stock (649 ) - (1,087 ) - Amortization of discount on convertible preferred stock (745 ) - (1,241 ) - Net (loss) income applicable to common shares $ (4,144 ) $ 8,973 $ 666 $ 16,949 Denominator: Basic weighted-average common shares outstanding 153,878 149,834 151,578 149,831 Basic (loss) earnings per common share $ (0.03 ) $ 0.06 $ 0.00 $ 0.11 Three Months Ended September 30, Nine Months Ended Period from April 24 - (Thousands, except per share data) 2016 2015 September 30, 2016 September 30, 2015 Diluted earnings per share: Numerator: Net (loss) income $ (2,343 ) $ 9,403 $ 4,158 $ 17,704 Less: Income allocated to participating securities (407 ) (430 ) (1,164 ) (755 ) Dividends declared on convertible preferred stock (649 ) - (1,087 ) - Amortization of discount on convertible preferred stock (745 ) - (1,241 ) - Net (loss) income applicable to common shares $ (4,144 ) $ 8,973 $ 666 $ 16,949 Denominator: Basic weighted-average common shares outstanding 153,878 149,834 151,578 149,831 Effect of dilutive non-participating securities - - 138 - Weighted-average shares for dilutive earnings per common share 153,878 149,834 151,716 149,831 Dilutive (loss) earnings per common share $ (0.03 ) $ 0.06 $ 0.00 $ 0.11 For the three months ended September 30, 2016, 149,087 non-participating securities were excluded from the computation of diluted earnings per share, as their effect would have been anti-dilutive.

Segment Information

Segment Information	9 Months Ended
	Sep. 30, 2016
Segment Reporting [Abstract]
Segment Information	Note 12. Segment Information Subsequent to our acquisition of PEG Bandwidth on May 2, 2016 ( Note 3 Management evaluates the performance of each segment using Adjusted EBITDA, which is a segment performance measure defined as net income determined in accordance with GAAP, before interest expense, provision for income taxes, depreciation and amortization, stock-based compensation expense, the impact, which may be recurring in nature, of transaction related expenses, the write off of unamortized deferred financing costs, costs incurred as a result of the early repayment of debt, changes in the fair value of contingent consideration and financial instruments, and other similar items. Selected financial data related to our segments is presented below for the three months ended September 30, 2016, and September 30, 2015: Three Months Ended September 30, 2016 (Thousands) Leasing Fiber Infrastructure Consumer CLEC Subtotal of Reportable Segments Revenues $ 169,525 $ 25,219 $ 5,496 $ 200,240 Adjusted EBITDA $ 165,190 $ 9,273 $ 1,213 $ 175,676 Less: Interest expense 70,522 Depreciation and amortization 86,208 9,701 814 96,723 Transaction related costs 9,315 Stock-based compensation 1,331 Income tax expense 128 Net loss $ (2,343 ) Capital expenditures (1) $ 2,875 $ 6,877 $ - $ 9,752 Three Months Ended September 30, 2015 (Thousands) Leasing Consumer CLEC Subtotal of Reportable Segments Revenues $ 166,959 $ 6,675 $ 173,634 Adjusted EBITDA $ 163,509 $ 1,527 $ 165,036 Less: Interest expense 66,511 Depreciation and amortization 86,307 964 87,271 Transaction related costs 804 Stock-based compensation 779 Income tax expense 268 Net income $ 9,403 Capital expenditures (1) $ 315 $ - $ 315 (1) Selected financial data related to our segments is presented below for the nine months ended September 30, 2016 and for the period from April 24, 2015 to September 30, 2015: Nine Months Ended September 30, 2016 (Thousands) Leasing Fiber Infrastructure Consumer CLEC Subtotal of Reportable Segments Revenues $ 507,216 $ 38,995 $ 17,277 $ 563,488 Adjusted EBITDA $ 494,377 $ 14,773 $ 3,875 $ 513,025 Less: Interest expense 204,607 Depreciation and amortization 257,557 15,448 2,443 275,448 Transaction related costs 24,435 Stock-based compensation 3,478 Income tax expense 899 Net income $ 4,158 Capital expenditures (1) $ 8,926 $ 10,278 $ - $ 19,204 Period from April 24, 2015 to September 30, 2015 (Thousands) Leasing Consumer CLEC Subtotal of Reportable Segments Revenues $ 291,131 $ 11,251 $ 302,382 Adjusted EBITDA $ 284,858 $ 2,362 $ 287,220 Less: Interest expense 115,307 Depreciation and amortization 150,108 1,607 151,715 Transaction related costs 877 Stock-based compensation 1,117 Income tax expense 500 Net income $ 17,704 Capital expenditures (1) $ 712 $ - $ 712 (1) Total assets by business segment as of September 30, 2016 and December 31, 2015 are as follows: (Thousands) September 30, 2016 December 31, 2015 Leasing $ 2,288,927 $ 2,527,915 Fiber Infrastructure 914,252 - Consumer CLEC 14,355 14,721 Subtotal of reportable segments $ 3,217,534 $ 2,542,636

Commitment and Contingencies

Commitment and Contingencies	9 Months Ended
	Sep. 30, 2016
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 13. Commitments and Contingencies In the ordinary course of our business, we are subject to claims and administrative proceedings, none of which we believe are material or would be expected to have, individually or in the aggregate, a material adverse effect on our business, financial condition, cash flows or results of operations. Pursuant to the Separation and Distribution Agreement entered into with Windstream in connection with the Spin-Off, Windstream has agreed to indemnify us (including our subsidiaries, directors, officers, employees and agents and certain other related parties) for any liability arising from or relating to legal proceedings involving Windstream's telecommunications business prior to the Spin-Off, and, pursuant to the Master Lease, Windstream has agreed to indemnify us for, among other things, any use, misuse, maintenance or repair by Windstream with respect to the Distribution Systems. Windstream is currently a party to various legal actions and administrative proceedings, including various claims arising in the ordinary course of its telecommunications business, which are subject to the indemnities provided by Windstream to us. Under the terms of the Tax Matters Agreement entered into with Windstream, we are generally responsible for any taxes imposed on Windstream that arise from the failure of the Spin-Off and the debt exchanges to qualify as tax-free for U.S. federal income tax purposes, within the meaning of Section 355 and Section 368(a)(1)(D) of the Internal Revenue Code, as applicable, to the extent such failure to qualify is attributable to certain actions, events or transactions relating to our stock, indebtedness, assets or business, or a breach of the relevant representations or any covenants made by us in the Tax Matters Agreement, the materials submitted to the IRS in connection with the request for the private letter ruling or the representations provided

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income	9 Months Ended
	Sep. 30, 2016
Accumulated Other Comprehensive Income Loss Net Of Tax [Abstract]
Accumulated Other Comprehensive Income	Note 14. Accumulated Other Comprehensive Income Changes in accumulated other comprehensive income by component is as follows for the nine months ended September 30, 2016: (Thousands) Currency Translation Adjustment Changes in Fair Value of Effective Cash Flow Hedge Total Beginning balance at December 31, 2015 $ - $ (5,427 ) $ (5,427 ) Other comprehensive loss before reclassifications (180 ) (81,163 ) (81,343 ) Amounts reclassified from accumulated other comprehensive income - 17,832 17,832 Ending balance at September 30, 2016 $ (180 ) $ (68,758 ) $ (68,938 )

Supplemental Guarantor Informat

Supplemental Guarantor Information	9 Months Ended
	Sep. 30, 2016
Condensed Financial Information Disclosure [Abstract]
Supplemental Guarantor Information	Note 15. Supplemental Guarantor Information In connection with the issuance of the Senior Secured Notes, Senior Unsecured Notes and Term Loan Facility due 2022, the Guarantors provided guarantees of that indebtedness. These guarantees are full and unconditional as well as joint and several. All property assets and related operations of the Guarantors are pledged as collateral under these obligations and the Guarantors are subject to restrictions on certain investments and payments. Subject to the terms and provisions of the debt agreements, in certain circumstances, a Guarantor may be released from its guarantee obligation including, upon the sale or transfer of any portion of its equity interest or all or substantially all of its property, and upon any Guarantor being designated an Unrestricted Subsidiary, as defined in the Credit Agreement, or otherwise no longer being required to remain a Guarantor given its size or regulatory restrictions. We determined that certain immaterial misclassifications existed in the condensed consolidating statement of cash flows for the period from April 24, 2015 to September 30, 2015, which impacted only CS&L, CSL Capital and the Guarantors with applicable offsetting adjustments in Eliminations. In the condensed consolidating statement of cash flows for the period from April 24, 2015 to September 30, 2015, net cash provided by operating activities for the Guarantors should have been increased by $68.8 million to $278.3 million, with an offsetting decrease of $68.8 million to net cash provided by financing activities for the Guarantors. The condensed consolidating statement of cash flows for the period from April 24, 2015 to September 30, 2015 presented below includes the impact of these revisions. In addition, we determined that certain immaterial misclassifications existed in the condensed consolidating statements of comprehensive income for the quarter ended September 30, 2015 and the period from April 24, 2015 to September 30, 2015, which impacted only CS&L with applicable offsetting adjustments in the Eliminations column. For the quarter ended September 30, 2015, earnings from consolidated subsidiaries, net income, and comprehensive income of CS&L should have been increased from $10.2 million, ($57.1) million, and ($99.7) million to $76.7 million, $9.4 million, and ($33.1) million, respectively. For the period from April 24, 2015 to September 30, 2015, earnings from consolidated subsidiaries, net income, and comprehensive income of CS&L should have been increased from $18.8 million, ($97.6) million, and ($111.6) million to $134.1 million, $17.7 million, and $3.7 million respectively. The condensed consolidating statement of comprehensive income for the quarter ended September 30, 2015 and the period from April 24, 2015 to September 30, 2015 presented below includes the impact of these revisions. The following information summarizes our Condensed Consolidating Balance Sheets as of September 30, 2016 and December 31, 2015, Condensed Consolidating Statement of Comprehensive Income (Loss) for the three and nine months ended September 30, 2016, and the Condensed Consolidating Statement of Cash Flows for the nine months ended September 30, 2016: Condensed Consolidating Balance Sheet As of September 30, 2016 (Thousands) CS&L CSL Capital Guarantors Non-Guarantors Eliminations Consolidated Assets: Property, plant and equipment, net $ — $ — $ 2,017,542 $ 676,599 $ — $ 2,694,141 Cash and cash equivalents 1,698 — 26,595 12,469 — 40,762 Accounts receivable, net — — 8,642 7,204 — 15,846 Affiliate receivable — — — 2,231 (2,231 ) — Goodwill — — 146,205 117,254 — 263,459 Intangible assets, net — — 37,562 125,379 — 162,941 Straight-line revenue receivable — — 24,762 207 — 24,969 Investment in consolidated subsidiaries 2,876,376 2,876,376 336,279 1,016,622 (7,105,653 ) - Other assets 1,041 — 11,265 3,110 — 15,416 Total Assets $ 2,879,115 $ 2,876,376 $ 2,608,852 $ 1,961,075 $ (7,107,884 ) $ 3,217,534 Liabilities and Shareholders' Deficit: Liabilities: Accounts payable, accrued expenses and other liabilities $ — $ — $ 20,604 $ 17,321 $ — $ 37,925 Accrued interest payable 57,528 57,528 — — (57,528 ) 57,528 Deferred revenue — — 134,714 79,175 — 213,889 Derivative liability 68,758 68,578 — — (68,578 ) 68,758 Affiliate payable — — 2,231 — (2,231 ) — Dividends payable 94,470 — — — — 94,470 Deferred income taxes — — 3,636 27,754 — 31,390 Capital lease obligations — — 48,512 6,703 — 55,215 Contingent consideration 98,600 — — — — 98,600 Notes and other debt, net 3,846,711 3,846,711 — — (3,846,711 ) 3,846,711 Total liabilities 4,166,067 3,972,817 209,697 130,953 (3,975,048 ) 4,504,486 Convertible preferred stock 79,807 — — — — 79,807 Shareholders' Deficit: Common stock 15 — — — — 15 Additional paid-in capital 140,466 — — — — 140,466 Accumulated other comprehensive income (68,938 ) (68,578 ) — (180 ) 68,758 (68,938 ) Distributions in excess of earnings (1,438,302 ) (1,027,863 ) 2,399,155 1,830,302 (3,201,594 ) (1,438,302 ) Total shareholders' deficit (1,366,759 ) (1,096,441 ) 2,399,155 1,830,122 (3,132,836 ) (1,366,759 ) Total Liabilities, Convertible Preferred Stock, and Shareholders' Deficit $ 2,879,115 $ 2,876,376 $ 2,608,852 $ 1,961,075 $ (7,107,884 ) $ 3,217,534 Condensed Consolidating Balance Sheet As of December 31, 2015 (Thousands) CS&L CSL Capital Guarantors Non-Guarantors Eliminations Consolidated Assets: Property, plant and equipment, net $ — $ — $ 1,839,603 $ 533,048 $ — $ 2,372,651 Cash and cash equivalents 17 — 140,197 2,284 — 142,498 Accounts receivable, net — — 474 1,609 — 2,083 Affiliate receivable — — 151 — (151 ) — Intangible assets, net — — — 10,530 — 10,530 Straight-line revenue receivable — — 11,795 — — 11,795 Investment in consolidated subsidiaries 2,458,679 2,458,679 11,235 — (4,928,593 ) — Other assets — — 2,781 298 — 3,079 Total Assets $ 2,458,696 $ 2,458,679 $ 2,006,236 $ 547,769 $ (4,928,744 ) $ 2,542,636 Liabilities and Shareholders' Deficit: Accounts payable, accrued expenses and other liabilities $ — $ — $ 9,204 $ 1,205 $ — $ 10,409 Accrued interest payable 24,440 24,440 — — (24,440 ) 24,440 Deferred revenue — — 44,862 22,955 — 67,817 Derivative liability 5,427 5,427 — — (5,427 ) 5,427 Affiliate payable — — — 151 (151 ) — Dividends payable 90,507 — — — — 90,507 Deferred income taxes — — 1,677 4,037 — 5,714 Notes and other debt, net 3,505,228 3,505,228 — — (3,505,228 ) 3,505,228 Total liabilities 3,625,602 3,535,095 55,743 28,348 (3,535,246 ) 3,709,542 Common stock 15 — — — — 15 Additional paid-in capital 1,392 — — — — 1,392 Accumulated other comprehensive income (5,427 ) (5,427 ) — — 5,427 (5,427 ) Distributions in excess of earnings (1,162,886 ) (1,070,989 ) 1,950,493 519,421 (1,398,925 ) (1,162,886 ) Total shareholders' deficit (1,166,906 ) (1,076,416 ) 1,950,493 519,421 (1,393,498 ) (1,166,906 ) Total Liabilities and Shareholders' Deficit $ 2,458,696 $ 2,458,679 $ 2,006,236 $ 547,769 $ (4,928,744 ) $ 2,542,636 Condensed Consolidating Statement of Comprehensive Income (Loss) For the Three Months Ended September 30, 2016 (Thousands) CS&L CSL Capital Guarantors Non-Guarantors Eliminations Consolidated Revenues: Leasing $ — $ — $ 168,772 $ 753 $ — $ 169,525 Fiber Infrastructure — — 21,741 3,478 — 25,219 Consumer CLEC — — — 5,496 — 5,496 Total revenues — — 190,513 9,727 — 200,240 Costs and Expenses: Interest expense 67,683 69,600 2,741 98 (69,600 ) 70,522 Depreciation and amortization — — 72,584 24,139 — 96,723 General and administrative expense 1,331 — 8,124 736 — 10,191 Operating expense — — 9,791 5,913 — 15,704 Transaction related costs 3,945 — 5,370 — — 9,315 Total costs and expenses 72,959 69,600 98,610 30,886 (69,600 ) 202,455 Earnings from consolidated subsidiaries 70,616 70,616 — — (141,232 ) — (Loss) income before income taxes (2,343 ) 1,016 91,903 (21,159 ) (71,632 ) (2,215 ) Income tax expense — — 148 (20 ) — 128 Net (loss) income $ (2,343 ) $ 1,016 $ 91,755 $ (21,139 ) $ (71,632 ) $ (2,343 ) Comprehensive (loss) income $ (4,314 ) $ (854 ) $ 91,755 $ (21,240 ) $ (69,661 ) $ (4,314 ) Condensed Consolidating Statement of Comprehensive Income (Loss) For the Three Months Ended September 30, 2015 (Thousands) CS&L CSL Capital Guarantors Non-Guarantors Eliminations Consolidated Revenues: Leasing $ — $ — $ 166,914 $ 45 $ — $ 166,959 Consumer CLEC — — — 6,675 — 6,675 Total revenues — — 166,914 6,720 — 173,634 Costs and Expenses: Interest expense 66,511 66,511 — — (66,511 ) 66,511 Depreciation and amortization — — 63,257 24,014 — 87,271 General and administrative expense 779 — 3,450 — — 4,229 Operating expense — — — 5,148 — 5,148 Transaction related costs — — 804 — — 804 Total costs and expenses 67,290 66,511 67,511 29,162 (66,511 ) 163,963 Earnings from consolidated subsidiaries 76,693 76,693 — — (153,386 ) — Income (loss) before income taxes 9,403 10,182 99,403 (22,442 ) (86,875 ) 9,671 Income tax expense — — 101 167 — 268 Net income (loss) $ 9,403 $ 10,182 $ 99,302 $ (22,609 ) $ (86,875 ) $ 9,403 Comprehensive income (loss) $ (33,141 ) $ (32,362 ) $ 99,302 $ (22,609 ) $ (44,331 ) $ (33,141 ) Condensed Consolidating Statement of Comprehensive Income (Loss) For the Nine Months Ended September 30, 2016 (Thousands) CS&L CSL Capital Guarantors Non-Guarantors Eliminations Consolidated Revenues: Leasing $ — $ — $ 505,569 $ 1,647 $ — $ 507,216 Fiber Infrastructure — — 35,517 3,478 38,995 Consumer CLEC — — — 17,277 — 17,277 Total revenues — — 541,086 22,402 — 563,488 Costs and Expenses: Interest expense 200,210 203,357 4,312 85 (203,357 ) 204,607 Depreciation and amortization — — 206,727 68,721 — 275,448 General and administrative expense 3,461 — 19,222 936 — 23,619 Operating expense — — 15,273 15,049 — 30,322 Transaction related costs 3,945 — 20,490 — — 24,435 Total costs and expenses 207,616 203,357 266,024 84,791 (203,357 ) 558,431 Earnings from consolidated subsidiaries 211,774 211,774 — — (423,548 ) — (Loss) income before income taxes 4,158 8,417 275,062 (62,389 ) (220,191 ) 5,057 Income tax expense — — 532 367 — 899 Net (loss) income $ 4,158 $ 8,417 $ 274,530 $ (62,756 ) $ (220,191 ) $ 4,158 Comprehensive (loss) income $ (59,353 ) $ (54,914 ) $ 274,530 $ (62,936 ) $ (156,680 ) $ (59,353 ) Condensed Consolidating Statement of Comprehensive Income For the Period from April 24 - September 30, 2015 (Thousands) CS&L CSL Capital Guarantors Non-Guarantors Eliminations Consolidated Revenues: Leasing $ — $ — $ 291,086 $ 45 $ — $ 291,131 Consumer CLEC — — — 11,251 — 11,251 Total revenues — — 291,086 11,296 — 302,382 Costs and Expenses: Interest expense 115,307 115,307 — — (115,307 ) 115,307 Depreciation and amortization — — 110,001 41,714 — 151,715 General and administrative expense 1,117 — 6,273 — — 7,390 Operating expense — — — 8,889 — 8,889 Transaction related costs — — 877 — — 877 Total costs and expenses 116,424 115,307 117,151 50,603 (115,307 ) 284,178 Earnings from consolidated subsidiaries 134,128 134,128 — — (268,256 ) — Income (loss) before income taxes 17,704 18,821 173,935 (39,307 ) (152,949 ) 18,204 Income tax expense — — 195 305 — 500 Net income (loss) $ 17,704 $ 18,821 $ 173,740 $ (39,612 ) $ (152,949 ) $ 17,704 Comprehensive income (loss) $ 3,711 $ 4,828 $ 173,740 $ (39,612 ) $ (138,956 ) $ 3,711 Condensed Consolidating Statement of Cash Flows For the Nine Months Ended September 30, 2016 (Thousands) CS&L CSL Capital Guarantors Non-Guarantors Eliminations Consolidated Cash flow from operating activities Net cash provided by (used in) operating activities $ (105,789 ) $ — $ 465,904 $ 4,662 $ (64,226 ) $ 300,551 Cash flow from investing activities Acquisition of businesses, net of cash acquired — — (316,244 ) (173,294 ) — (489,538 ) Capital expenditures — — (9,722 ) (9,482 ) — (19,204 ) Net cash used in investing activities — — (325,966 ) (182,776 ) — (508,742 ) Cash flow from financing activities Principal payment on debt (16,744 ) — — — — (16,744 ) Dividends paid (273,692 ) — — — — (273,692 ) Proceeds from issuance of Notes 148,875 — — — — 148,875 Borrowings under revolving credit facility 521,000 — — — — 521,000 Payments under revolving credit facility (321,000 ) — — — — (321,000 ) Capital lease payments — — (898 ) (47 ) — (945 ) Deferred financing costs (2,946 ) — — — — (2,946 ) Common stock issuance, net of costs 54,211 — — — — 54,211 Net share settlement (2,123 ) — — — — (2,123 ) Intercompany transactions, net (111 ) — (252,642 ) 188,527 64,226 — Net cash (used in) provided by financing activities 107,470 — (253,540 ) 188,480 64,226 106,636 Effect of exchange rates on cash and cash equivalents — — — (181 ) — (181 ) Net increase in cash and cash equivalents 1,681 — (113,602 ) 10,185 — (101,736 ) Cash and cash equivalents, December 31, 2015 17 — 140,197 2,284 142,498 Cash and cash equivalents, September 30, 2016 $ 1,698 $ — $ 26,595 $ 12,469 $ — $ 40,762 Condensed Consolidating Statement of Cash Flows For the period from April 24 - September 30, 2015 (Thousands) CS&L CSL Capital Guarantors Non-Guarantors Eliminations Consolidated Cash flow from operating activities Net cash provided by (used in) operating activities $ 10,584 $ — $ 278,279 $ 1,205 $ (68,809 ) $ 221,259 Cash flow from investing activities Consideration paid to Windstream Services (1,035,029 ) — — — — (1,035,029 ) Capital expenditures — — (712 ) — — (712 ) Net cash used in investing activities (1,035,029 ) — (712 ) — — (1,035,741 ) Cash flow from financing activities Proceeds from issuance of Term Loans 1,127,000 — — — — 1,127,000 Deferred financing costs (30,018 ) — — — — (30,018 ) Principal payment on debt (5,350 ) — — — — (5,350 ) Common stock issuance, net of costs (516 ) — — — — (516 ) Net share settlement (113 ) (113 ) Dividends Paid (66,522 ) — — — — (66,522 ) Intercompany transactions, net — — (68,809 ) — 68,809 — Cash in-lieu of fractional shares (19 ) — — — — (19 ) Net cash provided by (used in) financing activities 1,024,462 — (68,809 ) — 68,809 1,024,462 Net increase in cash and cash equivalents 17 — 208,758 1,205 — 209,980 Cash and cash equivalents, April 24, 2015 — — 18 — — 18 Cash and cash equivalents, September 30, 2015 $ 17 $ — $ 208,776 $ 1,205 $ — $ 209,998

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2016
Subsequent Events [Abstract]
Subsequent Events	Note 16. Subsequent Event On November 14, 2016, we announced that we entered into a definitive agreement to acquire Network Management Holdings LTD (“NMS”). NMS currently owns and operates 359 towers in Latin America and 114 additional build to suit towers under development. The NMS portfolio spans Mexico, Nicaragua and Colombia. The initial consideration for the 359 towers currently in operation is expected to be approximately $65 million, subject to changes in the currency exchange rate between the U.S. dollar and both the Mexican peso and Colombian peso. Under the terms of the purchase agreement, CS&L will acquire the towers under development when construction is completed. The Company intends to fund the transaction through borrowings under the Revolving Credit Facility. The NMS transaction is subject to regulatory approvals and other customary terms and conditions. Closing is expected to occur in the first quarter of 2017. On October 21, 2016, we completed the previously announced amendment to our Credit Agreement. Among other things, the amendment (i) repriced our Term Loan Facility, decreasing the interest rate by 50 basis points to LIBOR plus 3.50% per annum with a minimum LIBOR rate of 1.0%, and (ii) modified certain provisions to permit us to operate through a customary “Up-REIT” structure, should we choose to operate through such a structure in the future. Use of such a structure is intended to facilitate future acquisition opportunities by providing us the ability to use operating partnership units as a tax-efficient acquisition currency in certain acquisitions of assets or entities that are structured as limited liability companies or other pass-through entities. Our interest rate swap agreements are unaffected by this repricing and effectively fix the interest rate on our Term Loan Facility at 5.6%. See Note 6

Description of Business

Description of Business	9 Months Ended
	Sep. 30, 2016
Consumer CLEC Business
Description of Business	Note 1. Description of Business Communications Sales & Leasing, Inc. (the “Company,” “CS&L,” “we,” “us” or “our”) was incorporated in the state of Delaware in February 2014 and reorganized in the state of Maryland on September 4, 2014. On April 24, 2015 (the “Spin Date”), in connection with the separation and spin-off of CS&L from Windstream Holdings, Inc. (“Windstream Holdings” and together with its consolidated subsidiaries “Windstream”), Windstream contributed certain telecommunications network assets, including fiber and copper networks and other real estate (the “Distribution Systems”) and a small consumer competitive local exchange carrier (“CLEC”) business (the “Consumer CLEC Business”) to CS&L in exchange for cash, shares of common stock of CS&L and certain indebtedness of CS&L (the “Spin-Off”). The Consumer CLEC Business, which prior to the Spin-Off had been reported as an integrated operation within Windstream, offers voice, broadband, long-distance, and value-added services to residential customers located primarily in rural locations. Substantially all of the network assets used to provide these services to customers are contracted through interconnection agreements with other telecommunications carriers. Prior to the Spin-Off, Windstream ceased accepting new residential customers in the service areas covered by the Consumer CLEC Business.

Basis of Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 2016
Consumer CLEC Business
Basis of Presentation	Note 2. Basis of Presentation Subsequent to the Spin-Off, all financial results of the Consumer CLEC Business are reported within the consolidated financial statements of CS&L. The accompanying unaudited Statement of Revenues and Direct Expenses for the period from January 1, 2015 to Spin Date The accompanying Statement of Revenues and Direct Expenses include all direct costs incurred in connection with the operation of the Consumer CLEC Business for which specific identification was practicable. In addition, direct costs incurred by Windstream to operate the Consumer CLEC Business for which specific identification was not practicable have been allocated based on assumptions that management believes are reasonable under the circumstances as more fully discussed in Note 4. The Statement of Revenues and Direct Expenses exclude costs that are not directly related to the Consumer CLEC Business including general corporate overhead costs, interest expense and income taxes.

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2016
Consumer CLEC Business
Summary Of Significant Accounting Policies [Line Items]
Summary of Significant Accounting Policies	Note 3. Summary of Significant Accounting Policies Use of Estimates Revenue Recognition In assessing collectability of receivables, management considers a number of factors, including historical collection experience, aging of the accounts receivable balances and current economic conditions. When internal collection efforts on accounts have been exhausted, the accounts are written off by reducing the allowance for doubtful accounts. The provision for doubtful accounts, which is included in cost of service, was $111,000 for the period from January 1, 2015 to Spin Date. Recently Issued Accounting Standards Revenue from Contracts with Customers Subsequent Events

Allocations

Allocations	9 Months Ended
	Sep. 30, 2016
Consumer CLEC Business
Allocations [Line Items]
Allocations	Note 4. Allocations As described in Note 2, the accompanying Statement of Revenues and Direct Expenses of the Consumer CLEC Business include all direct costs incurred in connection with the operation of the Consumer CLEC Business for which specific identification was practicable. In addition, certain costs incurred by Windstream to operate the Consumer CLEC Business for which specific identification was not practicable have been allocated based on revenues and sales. These allocated expenses are included in “Cost of revenues” and “Selling, general and administrative.” General and administrative costs incurred by Windstream not directly related to the Consumer CLEC Business have not been allocated to these operations. Costs not allocated include amounts related to executive management, accounting, treasury and cash management, data processing, legal, human resources and certain occupancy costs.

Basis of Presentation and Sum30

Basis of Presentation and Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2016
Summary Of Significant Accounting Policies [Line Items]
Income Taxes	Income Taxes We have filed our initial U.S. federal and state income tax returns which are subject to examination.
Business Combinations	Business Combinations Business Combinations acquisitions meeting the definition of a business combination, where assets acquired and liabilities assumed are recorded at fair value at the date of each acquisition, and the results of operations are included with those of the Company from the dates of the respective acquisitions. Any excess of the purchase price paid by the Company over the amounts recognized for assets acquired and liabilities assumed is recorded as goodwill. ASC 805 also requires acquirers, among other things, to estimate the acquisition date fair value of any contingent consideration and to recognize any subsequent changes in the fair value of contingent consideration in earnings. The Company continues to evaluate acquisitions for a period not to exceed one year after the applicable acquisition date of each transaction to determine whether any additional adjustments are needed to the allocation of the purchase price paid for the assets acquired and liabilities assumed.
Goodwill	Goodwill — Intangibles-Goodwill and Other
Property, Plant and Equipment	Property, Plant and Equipment — at original cost, net of accumulated depreciation. The Company capitalizes costs incurred in bringing property, plant and equipment to an operational state, including all activities directly associated with the acquisition, construction, and installation of the related assets it owns. The Company also enters into leasing arrangements providing for the long‑term use of constructed fiber that is then integrated into the Company’s network infrastructure. For each lease that qualifies as a capital lease, the present value of the lease payments, which may include both periodic lease payments over the term of the lease as well as upfront payments to the lessor, is capitalized at the inception of the lease and included in property and equipment. Certain property, plant and equipment are depreciated using a group composite depreciation method. Under this method, when property is retired, the original cost, net of salvage value, is charged against accumulated depreciation and no immediate gain or loss is recognized on the disposition of the property. For all other property, which includes amortization of capital lease assets, depreciation is computed using the straight-line method over the estimated useful life of the respective property. When the property is retired or otherwise disposed of, the related cost and accumulated depreciation are written-off, with the corresponding gain or loss reflected in operating results. Costs of maintenance and repairs to property, plant and equipment subject to the Master Lease are the responsibility of our tenant. Costs of maintenance and repairs to property, plant and equipment not subject to triple-net leasing arrangements are expensed as incurred. We acquire real property interests from third parties who own land where communications infrastructure assets are located and desire to monetize the underlying real property. These real property interests entitle us to receive rental payments from leases on our sites. The financial results of the acquired real property interests are included in the Leasing segment from the date of acquisition and were not material, individually or in the aggregate, to our results of operations. Real property interests are recorded in real estate investments on our Condensed Consolidated Balance Sheet.
Foreign Currency Translation	Foreign Currency Translation The financial statements of our international subsidiaries whose functional currency is the local currency are translated into U.S. dollars using the exchange rate at the balance sheet date for assets and liabilities and the weighted average exchange rate for the applicable period for revenues, expenses, gains and losses. Translation adjustments are recorded as a separate component of comprehensive income in stockholders’ equity.
Reclassifications	Reclassifications See Note 15
Transaction Related Costs	Transaction Related Costs
Recently Issued Accounting Standards	Recently Issued Accounting Standards In May 2014, the FASB issued Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers The Company is in the process of evaluating this guidance to determine the impact it will have on our financial statements. In February 2016, the FASB issued ASU No. 2016-02, Leases (“ASC 842”), which sets out the principles for the recognition, measurement, presentation and disclosure of leases for both parties to a contract (i.e. lessees and lessors). The new standard requires lessees to apply a dual approach, classifying leases as either finance or operating leases based on the principle of whether or not the lease is effectively a financed purchase by the lessee. This classification will determine whether lease expense is recognized based on an effective interest method or on a straight line basis over the term of the lease. A lessee is also required to record a right-of-use asset and a lease liability for all leases with a term of greater than 12 months regardless of their classification. Leases with a term of 12 months or less will be accounted for similar to existing guidance for operating leases today. ASC 842 is effective for fiscal years and interim periods beginning after December 15, 2018, and early adoption is permitted. The Company is in the process of evaluating this guidance to determine the impact it will have on our financial statements. In March 2016, the FASB issued ASU No. 2016-09, Improvements to Employee Share-Based Payment Accounting ASU 2016-09 simplifies several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. ASU 2016-09 is effective for fiscal years beginning after December 15, 2016, and interim periods within those fiscal years and early adoption is permitted. We adopted ASU 2016-09 effective April 1, 2016, and will reverse compensation cost of forfeited awards as they occur. At the time of adoption, we had not experienced any forfeited awards and therefore no cumulative-effect adjustment was necessary. In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments
Consumer CLEC Business
Summary Of Significant Accounting Policies [Line Items]
Recently Issued Accounting Standards	Recently Issued Accounting Standards Revenue from Contracts with Customers
Use of Estimates	Use of Estimates
Revenue Recognition	Revenue Recognition In assessing collectability of receivables, management considers a number of factors, including historical collection experience, aging of the accounts receivable balances and current economic conditions. When internal collection efforts on accounts have been exhausted, the accounts are written off by reducing the allowance for doubtful accounts. The provision for doubtful accounts, which is included in cost of service, was $111,000 for the period from January 1, 2015 to Spin Date.
Subsequent Events	Subsequent Events

Business Combinations (Tables)

Business Combinations (Tables)	9 Months Ended
	Sep. 30, 2016
Business Combinations [Abstract]
Summary of Estimated Fair Values of Assets Acquired and Liabilities Assumed	The following is a summary of the estimated fair values of the assets acquired and liabilities assumed: (thousands) Property, plant and equipment $ 163,680 Cash and cash equivalents 14,346 Accounts receivable 3,043 Other assets 2,595 Intangible assets 116,218 Accounts payable, accrued expenses and other liabilities (16,782 ) Deferred revenue (23,900 ) Deferred income taxes (24,840 ) Capital lease obligations (6,750 ) Net assets acquired $ 227,610 Goodwill $ 117,254 The following is a summary of the estimated fair values of the assets acquired and liabilities assumed: (thousands) Property, plant and equipment $ 293,415 Cash and cash equivalents 7,003 Accounts receivable 6,230 Other assets 5,161 Intangible assets 38,000 Accounts payable, accrued expenses and other liabilities (9,075 ) Deferred revenue (12,700 ) Capital lease obligations (49,195 ) Net assets acquired $ 278,839 Goodwill $ 146,205
Unaudited Pro Forma Summary of Financial Results	The pro forma results are not indicative of future results of operations, or results that might have been achieved had the acquisition been consummated as of April 24, 2015. Three Months Ended September 30, Nine Months Ended Period from April 24 - (Thousands, except per share data) 2016 2015 September 30, 2016 September 30, 2015 Pro forma revenue $ 207,142 $ 184,728 $ 591,185 $ 333,226 Pro forma net (loss) income (1,820 ) 6,585 (5,744 ) 9,773 Pro forma net (loss) income per share $ (0.01 ) $ 0.04 $ (0.04 ) $ 0.06 The pro forma results are not indicative of future results of operations, or results that might have been achieved had the acquisition been consummated as of April 24, 2015. Three Months Ended Nine Months Ended Period from April 24 - (Thousands, except per share data) September 30, 2015 September 30, 2016 September 30, 2015 Pro forma revenue $ 192,968 $ 590,717 $ 336,035 Pro forma net income (loss) 6,399 (3,349 ) 12,624 Pro forma net income (loss) per share $ 0.04 $ (0.02 ) $ 0.08

Fair Value of Financial Instr32

Fair Value of Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2016
Fair Value Disclosures [Abstract]
Schedule of Fair Value Valuation of Financial Instruments	The following table summarizes the fair value of our financial instruments at September 30, 2016 and December 31, 2015: (Thousands) Total Quoted Prices in Active Markets (Level 1) Prices with Other Observable Inputs (Level 2) Prices with Unobservable Inputs (Level 3) At September 30, 2016 Liabilities Senior secured notes - 6.00%, due April 15, 2023 $ 569,250 $ - $ 569,250 $ - Senior unsecured notes - 8.25%, due October 15, 2023 1,159,950 - 1,159,950 - Senior secured term loan B - variable rate, due October 24, 2022 2,121,280 - 2,121,280 - Senior secured revolving credit facility, variable rate, due April 24, 2020 200,000 - 200,000 - Derivative liability 68,758 - 68,758 - Contingent consideration 98,600 - - 98,600 Total $ 4,217,838 $ - $ 4,119,238 $ 98,600 (Thousands) Total Quoted Prices in Active Markets (Level 1) Prices with Other Observable Inputs (Level 2) Prices with Unobservable Inputs (Level 3) At December 31, 2015 Liabilities Senior secured notes - 6.00%, due April 15, 2023 $ 376,000 $ - $ 376,000 $ - Senior unsecured notes - 8.25%, due October 15, 2023 937,950 - 937,950 - Senior secured term loan B - variable rate, due October 24, 2022 1,986,198 - 1,986,198 - Derivative liability 5,427 - 5,427 - Total $ 3,305,575 $ - $ 3,305,575 $ -
Roll Forward of Liability Measured at Fair Value on Recurring Basis Using Unobservable Inputs	The following is a roll forward of our liability measured at fair value on a recurring basis using unobservable inputs (Level 3): (Thousands) December 31, 2015 Transfers into Level 3 Gain/(Loss) included in earnings Settlements September 30, 2016 Contingent consideration $ - $ 98,600 $ - $ - $ 98,600

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	9 Months Ended
	Sep. 30, 2016
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 September 30, 2016 December 31, 2015 Land $ 34,295 $ 33,386 Building and improvements 3 - 40 years 314,577 313,736 Real property interests 50 years 2,394 - Poles 13 - 40 years 231,835 228,031 Fiber 7 - 40 years 2,217,760 1,948,192 Equipment 5 - 7 years 127,496 - Copper 7 - 40 years 3,518,283 3,475,987 Conduit 13 - 47 years 90,538 89,460 Tower assets 20 - 49 years 7,307 - Capital lease assets See Note 2 88,999 - Construction in progress 44,693 4,749 6,678,177 6,093,541 Less accumulated depreciation (3,984,036 ) (3,720,890 ) Net property, plant and equipment $ 2,694,141 $ 2,372,651

Derivative Instruments and He34

Derivative Instruments and Hedging Activities (Tables)	9 Months Ended
	Sep. 30, 2016
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Summary of Fair Value of Derivative Instruments and Presentation in Condensed Consolidated Balance Sheet	The following table summarizes the fair value and the presentation in our Condensed Consolidated Balance Sheet: (Thousands) Location on Condensed Consolidated Balance Sheet September 30, 2016 December 31, 2015 Interest rate swaps Derivative liability $ 68,758 $ 5,427

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2016
Goodwill And Intangible Assets Disclosure [Abstract]
Schedule of Carrying Amount of Goodwill	Changes in the carrying amount of goodwill occurring during the nine months ended September 30, 2016, are as follows: (Thousands) Fiber Infrastructure Total Goodwill at December 31, 2015 $ - $ - Goodwill associated with 2016 acquisitions 263,459 263,459 Goodwill at September 30, 2016 $ 263,459 $ 263,459
Schedule of Carrying Value of the Intangible Assets	The carrying value of the intangible assets is as follows: (Thousands) September 30, 2016 December 31, 2015 Cost Accumulated Amortization Cost Accumulated Amortization Indefinite life intangible assets: Trade name $ 2,000 $ - $ - $ - Finite life intangible assets: Customer lists 188,642 (27,701 ) 34,501 (23,971 ) Total intangible assets 190,642 34,501 Less: Accumulated amortization (27,701 ) (23,971 ) Total intangible assets, net $ 162,941 $ 10,530

Notes and Other Debt (Tables)

Notes and Other Debt (Tables)	9 Months Ended
	Sep. 30, 2016
Long Term Debt [Abstract]
Schedule of Notes and Other Debt	Notes and other debt is as follows: (Thousands) September 30, 2016 December 31, 2015 Principal amount $ 3,973,250 $ 3,639,300 Less unamortized discount and debt issuance costs (126,539 ) (134,072 ) Notes and other debt less unamortized discount and debt issuance costs $ 3,846,711 $ 3,505,228 Notes and other debt at September 30, 2016 and December 31, 2015 consisted of the following: September 30, 2016 December 31, 2015 (Thousands) Principal Unamortized Discount and Debt Issuance Costs Principal Unamortized Discount and Debt Issuance Costs Senior secured notes - 6.00%, due April 15, 2023 (discount is based on imputed interest rate of 6.29%) $ 550,000 (10,127 ) $ 400,000 $ (6,767 ) Senior unsecured notes - 8.25%, due October 15, 2023 (discount is based on imputed interest rate of 9.06%) 1,110,000 (46,746 ) 1,110,000 (50,200 ) Senior secured term loan B - variable rate, due October 24, 2022 (discount is based on imputed interest rate of 5.66%) 2,113,250 (69,666 ) 2,129,300 (77,105 ) Senior secured revolving credit facility - variable rate, due April 24, 2020 200,000 - - - Total $ 3,973,250 $ (126,539 ) $ 3,639,300 $ (134,072 )

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2016
Earnings Per Share [Abstract]
Schedule of Earnings Per Share Basic and Diluted	The following sets forth the computation of basic and diluted earnings per share under the two-class method: Three Months Ended September 30, Nine Months Ended Period from April 24 - (Thousands, except per share data) 2016 2015 September 30, 2016 September 30, 2015 Basic earnings per share: Numerator: Net (loss) income $ (2,343 ) $ 9,403 $ 4,158 $ 17,704 Less: Income allocated to participating securities (407 ) (430 ) (1,164 ) (755 ) Dividends declared on convertible preferred stock (649 ) - (1,087 ) - Amortization of discount on convertible preferred stock (745 ) - (1,241 ) - Net (loss) income applicable to common shares $ (4,144 ) $ 8,973 $ 666 $ 16,949 Denominator: Basic weighted-average common shares outstanding 153,878 149,834 151,578 149,831 Basic (loss) earnings per common share $ (0.03 ) $ 0.06 $ 0.00 $ 0.11 Three Months Ended September 30, Nine Months Ended Period from April 24 - (Thousands, except per share data) 2016 2015 September 30, 2016 September 30, 2015 Diluted earnings per share: Numerator: Net (loss) income $ (2,343 ) $ 9,403 $ 4,158 $ 17,704 Less: Income allocated to participating securities (407 ) (430 ) (1,164 ) (755 ) Dividends declared on convertible preferred stock (649 ) - (1,087 ) - Amortization of discount on convertible preferred stock (745 ) - (1,241 ) - Net (loss) income applicable to common shares $ (4,144 ) $ 8,973 $ 666 $ 16,949 Denominator: Basic weighted-average common shares outstanding 153,878 149,834 151,578 149,831 Effect of dilutive non-participating securities - - 138 - Weighted-average shares for dilutive earnings per common share 153,878 149,834 151,716 149,831 Dilutive (loss) earnings per common share $ (0.03 ) $ 0.06 $ 0.00 $ 0.11 For the three months ended September 30, 2016, 149,087 non-participating securities were excluded from the computation of diluted earnings per share, as their effect would have been anti-dilutive.

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 30, 2016
Segment Reporting [Abstract]
Schedule of Segment Reporting Information	Selected financial data related to our segments is presented below for the three months ended September 30, 2016, and September 30, 2015: Three Months Ended September 30, 2016 (Thousands) Leasing Fiber Infrastructure Consumer CLEC Subtotal of Reportable Segments Revenues $ 169,525 $ 25,219 $ 5,496 $ 200,240 Adjusted EBITDA $ 165,190 $ 9,273 $ 1,213 $ 175,676 Less: Interest expense 70,522 Depreciation and amortization 86,208 9,701 814 96,723 Transaction related costs 9,315 Stock-based compensation 1,331 Income tax expense 128 Net loss $ (2,343 ) Capital expenditures (1) $ 2,875 $ 6,877 $ - $ 9,752 Three Months Ended September 30, 2015 (Thousands) Leasing Consumer CLEC Subtotal of Reportable Segments Revenues $ 166,959 $ 6,675 $ 173,634 Adjusted EBITDA $ 163,509 $ 1,527 $ 165,036 Less: Interest expense 66,511 Depreciation and amortization 86,307 964 87,271 Transaction related costs 804 Stock-based compensation 779 Income tax expense 268 Net income $ 9,403 Capital expenditures (1) $ 315 $ - $ 315 (1) Selected financial data related to our segments is presented below for the nine months ended September 30, 2016 and for the period from April 24, 2015 to September 30, 2015: Nine Months Ended September 30, 2016 (Thousands) Leasing Fiber Infrastructure Consumer CLEC Subtotal of Reportable Segments Revenues $ 507,216 $ 38,995 $ 17,277 $ 563,488 Adjusted EBITDA $ 494,377 $ 14,773 $ 3,875 $ 513,025 Less: Interest expense 204,607 Depreciation and amortization 257,557 15,448 2,443 275,448 Transaction related costs 24,435 Stock-based compensation 3,478 Income tax expense 899 Net income $ 4,158 Capital expenditures (1) $ 8,926 $ 10,278 $ - $ 19,204 Period from April 24, 2015 to September 30, 2015 (Thousands) Leasing Consumer CLEC Subtotal of Reportable Segments Revenues $ 291,131 $ 11,251 $ 302,382 Adjusted EBITDA $ 284,858 $ 2,362 $ 287,220 Less: Interest expense 115,307 Depreciation and amortization 150,108 1,607 151,715 Transaction related costs 877 Stock-based compensation 1,117 Income tax expense 500 Net income $ 17,704 Capital expenditures (1) $ 712 $ - $ 712 (1)
Summary of Total Assets by Business Segment	Total assets by business segment as of September 30, 2016 and December 31, 2015 are as follows: (Thousands) September 30, 2016 December 31, 2015 Leasing $ 2,288,927 $ 2,527,915 Fiber Infrastructure 914,252 - Consumer CLEC 14,355 14,721 Subtotal of reportable segments $ 3,217,534 $ 2,542,636

Accumulated Other Comprehensi39

Accumulated Other Comprehensive Income (Tables)	9 Months Ended
	Sep. 30, 2016
Accumulated Other Comprehensive Income Loss Net Of Tax [Abstract]
Schedule of Changes in Accumulated Other Comprehensive Income by Component	Changes in accumulated other comprehensive income by component is as follows for the nine months ended September 30, 2016: (Thousands) Currency Translation Adjustment Changes in Fair Value of Effective Cash Flow Hedge Total Beginning balance at December 31, 2015 $ - $ (5,427 ) $ (5,427 ) Other comprehensive loss before reclassifications (180 ) (81,163 ) (81,343 ) Amounts reclassified from accumulated other comprehensive income - 17,832 17,832 Ending balance at September 30, 2016 $ (180 ) $ (68,758 ) $ (68,938 )

Supplemental Guarantor Inform40

Supplemental Guarantor Information (Tables)	9 Months Ended
	Sep. 30, 2016
Condensed Financial Information Of Parent Company Only Disclosure [Abstract]
Condensed Consolidated Balance Sheet	The following information summarizes our Condensed Consolidating Balance Sheets as of September 30, 2016 and December 31, 2015, Condensed Consolidating Statement of Comprehensive Income (Loss) for the three and nine months ended September 30, 2016, and the Condensed Consolidating Statement of Cash Flows for the nine months ended September 30, 2016: Condensed Consolidating Balance Sheet As of September 30, 2016 (Thousands) CS&L CSL Capital Guarantors Non-Guarantors Eliminations Consolidated Assets: Property, plant and equipment, net $ — $ — $ 2,017,542 $ 676,599 $ — $ 2,694,141 Cash and cash equivalents 1,698 — 26,595 12,469 — 40,762 Accounts receivable, net — — 8,642 7,204 — 15,846 Affiliate receivable — — — 2,231 (2,231 ) — Goodwill — — 146,205 117,254 — 263,459 Intangible assets, net — — 37,562 125,379 — 162,941 Straight-line revenue receivable — — 24,762 207 — 24,969 Investment in consolidated subsidiaries 2,876,376 2,876,376 336,279 1,016,622 (7,105,653 ) - Other assets 1,041 — 11,265 3,110 — 15,416 Total Assets $ 2,879,115 $ 2,876,376 $ 2,608,852 $ 1,961,075 $ (7,107,884 ) $ 3,217,534 Liabilities and Shareholders' Deficit: Liabilities: Accounts payable, accrued expenses and other liabilities $ — $ — $ 20,604 $ 17,321 $ — $ 37,925 Accrued interest payable 57,528 57,528 — — (57,528 ) 57,528 Deferred revenue — — 134,714 79,175 — 213,889 Derivative liability 68,758 68,578 — — (68,578 ) 68,758 Affiliate payable — — 2,231 — (2,231 ) — Dividends payable 94,470 — — — — 94,470 Deferred income taxes — — 3,636 27,754 — 31,390 Capital lease obligations — — 48,512 6,703 — 55,215 Contingent consideration 98,600 — — — — 98,600 Notes and other debt, net 3,846,711 3,846,711 — — (3,846,711 ) 3,846,711 Total liabilities 4,166,067 3,972,817 209,697 130,953 (3,975,048 ) 4,504,486 Convertible preferred stock 79,807 — — — — 79,807 Shareholders' Deficit: Common stock 15 — — — — 15 Additional paid-in capital 140,466 — — — — 140,466 Accumulated other comprehensive income (68,938 ) (68,578 ) — (180 ) 68,758 (68,938 ) Distributions in excess of earnings (1,438,302 ) (1,027,863 ) 2,399,155 1,830,302 (3,201,594 ) (1,438,302 ) Total shareholders' deficit (1,366,759 ) (1,096,441 ) 2,399,155 1,830,122 (3,132,836 ) (1,366,759 ) Total Liabilities, Convertible Preferred Stock, and Shareholders' Deficit $ 2,879,115 $ 2,876,376 $ 2,608,852 $ 1,961,075 $ (7,107,884 ) $ 3,217,534 Condensed Consolidating Balance Sheet As of December 31, 2015 (Thousands) CS&L CSL Capital Guarantors Non-Guarantors Eliminations Consolidated Assets: Property, plant and equipment, net $ — $ — $ 1,839,603 $ 533,048 $ — $ 2,372,651 Cash and cash equivalents 17 — 140,197 2,284 — 142,498 Accounts receivable, net — — 474 1,609 — 2,083 Affiliate receivable — — 151 — (151 ) — Intangible assets, net — — — 10,530 — 10,530 Straight-line revenue receivable — — 11,795 — — 11,795 Investment in consolidated subsidiaries 2,458,679 2,458,679 11,235 — (4,928,593 ) — Other assets — — 2,781 298 — 3,079 Total Assets $ 2,458,696 $ 2,458,679 $ 2,006,236 $ 547,769 $ (4,928,744 ) $ 2,542,636 Liabilities and Shareholders' Deficit: Accounts payable, accrued expenses and other liabilities $ — $ — $ 9,204 $ 1,205 $ — $ 10,409 Accrued interest payable 24,440 24,440 — — (24,440 ) 24,440 Deferred revenue — — 44,862 22,955 — 67,817 Derivative liability 5,427 5,427 — — (5,427 ) 5,427 Affiliate payable — — — 151 (151 ) — Dividends payable 90,507 — — — — 90,507 Deferred income taxes — — 1,677 4,037 — 5,714 Notes and other debt, net 3,505,228 3,505,228 — — (3,505,228 ) 3,505,228 Total liabilities 3,625,602 3,535,095 55,743 28,348 (3,535,246 ) 3,709,542 Common stock 15 — — — — 15 Additional paid-in capital 1,392 — — — — 1,392 Accumulated other comprehensive income (5,427 ) (5,427 ) — — 5,427 (5,427 ) Distributions in excess of earnings (1,162,886 ) (1,070,989 ) 1,950,493 519,421 (1,398,925 ) (1,162,886 ) Total shareholders' deficit (1,166,906 ) (1,076,416 ) 1,950,493 519,421 (1,393,498 ) (1,166,906 ) Total Liabilities and Shareholders' Deficit $ 2,458,696 $ 2,458,679 $ 2,006,236 $ 547,769 $ (4,928,744 ) $ 2,542,636
Condensed Consolidated Statement of Comprehensive Income (Loss)	Condensed Consolidating Statement of Comprehensive Income (Loss) For the Three Months Ended September 30, 2016 (Thousands) CS&L CSL Capital Guarantors Non-Guarantors Eliminations Consolidated Revenues: Leasing $ — $ — $ 168,772 $ 753 $ — $ 169,525 Fiber Infrastructure — — 21,741 3,478 — 25,219 Consumer CLEC — — — 5,496 — 5,496 Total revenues — — 190,513 9,727 — 200,240 Costs and Expenses: Interest expense 67,683 69,600 2,741 98 (69,600 ) 70,522 Depreciation and amortization — — 72,584 24,139 — 96,723 General and administrative expense 1,331 — 8,124 736 — 10,191 Operating expense — — 9,791 5,913 — 15,704 Transaction related costs 3,945 — 5,370 — — 9,315 Total costs and expenses 72,959 69,600 98,610 30,886 (69,600 ) 202,455 Earnings from consolidated subsidiaries 70,616 70,616 — — (141,232 ) — (Loss) income before income taxes (2,343 ) 1,016 91,903 (21,159 ) (71,632 ) (2,215 ) Income tax expense — — 148 (20 ) — 128 Net (loss) income $ (2,343 ) $ 1,016 $ 91,755 $ (21,139 ) $ (71,632 ) $ (2,343 ) Comprehensive (loss) income $ (4,314 ) $ (854 ) $ 91,755 $ (21,240 ) $ (69,661 ) $ (4,314 ) Condensed Consolidating Statement of Comprehensive Income (Loss) For the Three Months Ended September 30, 2015 (Thousands) CS&L CSL Capital Guarantors Non-Guarantors Eliminations Consolidated Revenues: Leasing $ — $ — $ 166,914 $ 45 $ — $ 166,959 Consumer CLEC — — — 6,675 — 6,675 Total revenues — — 166,914 6,720 — 173,634 Costs and Expenses: Interest expense 66,511 66,511 — — (66,511 ) 66,511 Depreciation and amortization — — 63,257 24,014 — 87,271 General and administrative expense 779 — 3,450 — — 4,229 Operating expense — — — 5,148 — 5,148 Transaction related costs — — 804 — — 804 Total costs and expenses 67,290 66,511 67,511 29,162 (66,511 ) 163,963 Earnings from consolidated subsidiaries 76,693 76,693 — — (153,386 ) — Income (loss) before income taxes 9,403 10,182 99,403 (22,442 ) (86,875 ) 9,671 Income tax expense — — 101 167 — 268 Net income (loss) $ 9,403 $ 10,182 $ 99,302 $ (22,609 ) $ (86,875 ) $ 9,403 Comprehensive income (loss) $ (33,141 ) $ (32,362 ) $ 99,302 $ (22,609 ) $ (44,331 ) $ (33,141 ) Condensed Consolidating Statement of Comprehensive Income (Loss) For the Nine Months Ended September 30, 2016 (Thousands) CS&L CSL Capital Guarantors Non-Guarantors Eliminations Consolidated Revenues: Leasing $ — $ — $ 505,569 $ 1,647 $ — $ 507,216 Fiber Infrastructure — — 35,517 3,478 38,995 Consumer CLEC — — — 17,277 — 17,277 Total revenues — — 541,086 22,402 — 563,488 Costs and Expenses: Interest expense 200,210 203,357 4,312 85 (203,357 ) 204,607 Depreciation and amortization — — 206,727 68,721 — 275,448 General and administrative expense 3,461 — 19,222 936 — 23,619 Operating expense — — 15,273 15,049 — 30,322 Transaction related costs 3,945 — 20,490 — — 24,435 Total costs and expenses 207,616 203,357 266,024 84,791 (203,357 ) 558,431 Earnings from consolidated subsidiaries 211,774 211,774 — — (423,548 ) — (Loss) income before income taxes 4,158 8,417 275,062 (62,389 ) (220,191 ) 5,057 Income tax expense — — 532 367 — 899 Net (loss) income $ 4,158 $ 8,417 $ 274,530 $ (62,756 ) $ (220,191 ) $ 4,158 Comprehensive (loss) income $ (59,353 ) $ (54,914 ) $ 274,530 $ (62,936 ) $ (156,680 ) $ (59,353 ) Condensed Consolidating Statement of Comprehensive Income For the Period from April 24 - September 30, 2015 (Thousands) CS&L CSL Capital Guarantors Non-Guarantors Eliminations Consolidated Revenues: Leasing $ — $ — $ 291,086 $ 45 $ — $ 291,131 Consumer CLEC — — — 11,251 — 11,251 Total revenues — — 291,086 11,296 — 302,382 Costs and Expenses: Interest expense 115,307 115,307 — — (115,307 ) 115,307 Depreciation and amortization — — 110,001 41,714 — 151,715 General and administrative expense 1,117 — 6,273 — — 7,390 Operating expense — — — 8,889 — 8,889 Transaction related costs — — 877 — — 877 Total costs and expenses 116,424 115,307 117,151 50,603 (115,307 ) 284,178 Earnings from consolidated subsidiaries 134,128 134,128 — — (268,256 ) — Income (loss) before income taxes 17,704 18,821 173,935 (39,307 ) (152,949 ) 18,204 Income tax expense — — 195 305 — 500 Net income (loss) $ 17,704 $ 18,821 $ 173,740 $ (39,612 ) $ (152,949 ) $ 17,704 Comprehensive income (loss) $ 3,711 $ 4,828 $ 173,740 $ (39,612 ) $ (138,956 ) $ 3,711
Condensed Consolidated Statement of Cash Flows	Condensed Consolidating Statement of Cash Flows For the Nine Months Ended September 30, 2016 (Thousands) CS&L CSL Capital Guarantors Non-Guarantors Eliminations Consolidated Cash flow from operating activities Net cash provided by (used in) operating activities $ (105,789 ) $ — $ 465,904 $ 4,662 $ (64,226 ) $ 300,551 Cash flow from investing activities Acquisition of businesses, net of cash acquired — — (316,244 ) (173,294 ) — (489,538 ) Capital expenditures — — (9,722 ) (9,482 ) — (19,204 ) Net cash used in investing activities — — (325,966 ) (182,776 ) — (508,742 ) Cash flow from financing activities Principal payment on debt (16,744 ) — — — — (16,744 ) Dividends paid (273,692 ) — — — — (273,692 ) Proceeds from issuance of Notes 148,875 — — — — 148,875 Borrowings under revolving credit facility 521,000 — — — — 521,000 Payments under revolving credit facility (321,000 ) — — — — (321,000 ) Capital lease payments — — (898 ) (47 ) — (945 ) Deferred financing costs (2,946 ) — — — — (2,946 ) Common stock issuance, net of costs 54,211 — — — — 54,211 Net share settlement (2,123 ) — — — — (2,123 ) Intercompany transactions, net (111 ) — (252,642 ) 188,527 64,226 — Net cash (used in) provided by financing activities 107,470 — (253,540 ) 188,480 64,226 106,636 Effect of exchange rates on cash and cash equivalents — — — (181 ) — (181 ) Net increase in cash and cash equivalents 1,681 — (113,602 ) 10,185 — (101,736 ) Cash and cash equivalents, December 31, 2015 17 — 140,197 2,284 142,498 Cash and cash equivalents, September 30, 2016 $ 1,698 $ — $ 26,595 $ 12,469 $ — $ 40,762 Condensed Consolidating Statement of Cash Flows For the period from April 24 - September 30, 2015 (Thousands) CS&L CSL Capital Guarantors Non-Guarantors Eliminations Consolidated Cash flow from operating activities Net cash provided by (used in) operating activities $ 10,584 $ — $ 278,279 $ 1,205 $ (68,809 ) $ 221,259 Cash flow from investing activities Consideration paid to Windstream Services (1,035,029 ) — — — — (1,035,029 ) Capital expenditures — — (712 ) — — (712 ) Net cash used in investing activities (1,035,029 ) — (712 ) — — (1,035,741 ) Cash flow from financing activities Proceeds from issuance of Term Loans 1,127,000 — — — — 1,127,000 Deferred financing costs (30,018 ) — — — — (30,018 ) Principal payment on debt (5,350 ) — — — — (5,350 ) Common stock issuance, net of costs (516 ) — — — — (516 ) Net share settlement (113 ) (113 ) Dividends Paid (66,522 ) — — — — (66,522 ) Intercompany transactions, net — — (68,809 ) — 68,809 — Cash in-lieu of fractional shares (19 ) — — — — (19 ) Net cash provided by (used in) financing activities 1,024,462 — (68,809 ) — 68,809 1,024,462 Net increase in cash and cash equivalents 17 — 208,758 1,205 — 209,980 Cash and cash equivalents, April 24, 2015 — — 18 — — 18 Cash and cash equivalents, September 30, 2015 $ 17 $ — $ 208,776 $ 1,205 $ — $ 209,998

Basis of Presentation and Sum41

Basis of Presentation and Summary of Significant Accounting Policies - Additional Information (Details)	9 Months Ended
	Sep. 30, 2016USD ($)
Accounting Policies [Abstract]
Current liabilities for uncertain income tax positions	$ 0
Gain (loss) on disposition of property	$ 0

Business Combinations - Additio

Business Combinations - Additional Information (Details)	Aug. 31, 2016USD ($)shares	May 12, 2016USD ($)Tower	May 02, 2016USD ($)shares	Jan. 22, 2016USD ($)	Sep. 30, 2016USD ($)	Sep. 30, 2015USD ($)	Sep. 30, 2015USD ($)	Sep. 30, 2016USD ($)
Business Acquisition [Line Items]
Contingent consideration	$ 98,600,000				$ 98,600,000			$ 98,600,000
Revenues					200,240,000	$ 173,634,000	$ 302,382,000	563,488,000
Equity consideration transferred on acquisition								$ 259,996,000
Windstream Towers
Business Acquisition [Line Items]
Business acquisition date								May 12, 2016
Number of wireless towers acquired | Tower		32
Number of wireless towers acquired by operating rights | Tower		49
Purchase price of wireless towers		$ 3,000,000
Tower Cloud
Business Acquisition [Line Items]
Business acquisition date								Aug. 31, 2016
Percentage of equity acquired	100.00%
Cash paid for business acquisition	$ 187,700,000
Additional contingent consideration	130,000,000
Contingent consideration	98,600,000
Goodwill expected to be deductible for income tax purposes	0
Intangible assets	116,218,000
Net operating loss	81,200,000
Deferred tax assets gross	37,000,000
Deferred Tax Liabilities	24,800,000
Revenues								$ 3,500,000
Operating loss								(400,000)
Business combination, transaction related costs					5,400,000			$ 8,900,000
Tower Cloud | Customer Relationships
Business Acquisition [Line Items]
Intangible assets	$ 116,200,000
Acquired finite-lived intangible assets, weighted average useful life	30 years
Tower Cloud | Common Stock
Business Acquisition [Line Items]
Issuance of shares | shares	1,900,000
Fair value of shares issued for acquisition	$ 58,500,000
PEG Bandwidth, LLC
Business Acquisition [Line Items]
Business acquisition date								May 2, 2016
Percentage of equity acquired			100.00%
Cash paid for business acquisition			$ 323,000,000
Intangible assets			38,000,000
Revenues								$ 35,500,000
Operating loss								(600,000)
Business combination, transaction related costs					$ 1,100,000			$ 10,500,000
PEG Bandwidth, LLC | Trademarks
Business Acquisition [Line Items]
Indefinite-lived Intangible assets acquired			$ 2,000,000
PEG Bandwidth, LLC | Series A Convertible Preferred Stock
Business Acquisition [Line Items]
Issuance of shares | shares			87,500
Fair value of shares issued for acquisition			$ 78,600,000
PEG Bandwidth, LLC | Customer Relationships
Business Acquisition [Line Items]
Acquired finite-lived intangible assets, weighted average useful life			17 years
Finite-lived intangible assets acquired			$ 36,000,000
PEG Bandwidth, LLC | Common Stock
Business Acquisition [Line Items]
Issuance of shares | shares			1,000,000
Fair value of shares issued for acquisition			$ 23,200,000
Summit Wireless Infrastructure, LLC
Business Acquisition [Line Items]
Business acquisition date								Jan. 22, 2016
Percentage of equity acquired				100.00%
Summit Wireless Infrastructure, LLC | Common Stock
Business Acquisition [Line Items]
Equity consideration transferred on acquisition				$ 1,100,000
Minimum | Tower Cloud
Business Acquisition [Line Items]
Percentage of aggregate amount of contingent consideration payments	50.00%
Operating loss carry forwards expiration year	2,026
Maximum | Tower Cloud
Business Acquisition [Line Items]
Operating loss carry forwards expiration year	2,036

Business Combinations - Summary

Business Combinations - Summary of Estimated Fair Values of Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Aug. 31, 2016	May 02, 2016
Business Acquisition [Line Items]
Goodwill	$ 263,459
Tower Cloud
Business Acquisition [Line Items]
Property, plant and equipment		$ 163,680
Cash and cash equivalents		14,346
Accounts receivable		3,043
Other assets		2,595
Intangible assets		116,218
Accounts payable, accrued expenses and other liabilities		(16,782)
Deferred revenue		(23,900)
Deferred income taxes		(24,840)
Capital lease obligations		(6,750)
Net assets acquired		227,610
Goodwill		$ 117,254
PEG Bandwidth, LLC
Business Acquisition [Line Items]
Property, plant and equipment			$ 293,415
Cash and cash equivalents			7,003
Accounts receivable			6,230
Other assets			5,161
Intangible assets			38,000
Accounts payable, accrued expenses and other liabilities			(9,075)
Deferred revenue			(12,700)
Capital lease obligations			(49,195)
Net assets acquired			278,839
Goodwill			$ 146,205

Business Combinations - Unaudit

Business Combinations - Unaudited Pro Forma Summary of Financial Results (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		5 Months Ended	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2015	Sep. 30, 2016
Tower Cloud
Business Acquisition [Line Items]
Pro forma revenue	$ 207,142	$ 184,728	$ 333,226	$ 591,185
Pro forma net (loss) income	$ (1,820)	$ 6,585	$ 9,773	$ (5,744)
Pro forma net (loss) income per share	$ (0.01)	$ 0.04	$ 0.06	$ (0.04)
PEG Bandwidth, LLC
Business Acquisition [Line Items]
Pro forma revenue		$ 192,968	$ 336,035	$ 590,717
Pro forma net (loss) income		$ 6,399	$ 12,624	$ (3,349)
Pro forma net (loss) income per share		$ 0.04	$ 0.08	$ (0.02)

Fair Value of Financial Instr45

Fair Value of Financial Instruments - Schedule of Fair Value Valuation of Financial Instruments (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Aug. 31, 2016	Dec. 31, 2015
Liabilities
Derivative liability	$ 68,758		$ 5,427
Contingent consideration	98,600	$ 98,600
Total	4,217,838		3,305,575
Senior Secured Revolving Credit Facility
Liabilities
Senior secured loan	200,000
6.00% Senior Secured Notes
Liabilities
Senior notes	569,250		376,000
8.25% Senior Unsecured Notes
Liabilities
Senior notes	1,159,950		937,950
Senior Secured Term Loan B Facility
Liabilities
Senior secured loan	2,121,280		1,986,198
Prices with Other Observable Inputs (Level 2)
Liabilities
Derivative liability	68,758		5,427
Total	4,119,238		3,305,575
Prices with Other Observable Inputs (Level 2) | Senior Secured Revolving Credit Facility
Liabilities
Senior secured loan	200,000
Prices with Other Observable Inputs (Level 2) | 6.00% Senior Secured Notes
Liabilities
Senior notes	569,250		376,000
Prices with Other Observable Inputs (Level 2) | 8.25% Senior Unsecured Notes
Liabilities
Senior notes	1,159,950		937,950
Prices with Other Observable Inputs (Level 2) | Senior Secured Term Loan B Facility
Liabilities
Senior secured loan	2,121,280		$ 1,986,198
Prices with Unobservable Inputs (Level 3)
Liabilities
Contingent consideration	98,600
Total	$ 98,600

Fair Value of Financial Instr46

Fair Value of Financial Instruments - Schedule of Fair Value Valuation of Financial Instruments (Parenthetical) (Details)	8 Months Ended	9 Months Ended
	Dec. 31, 2015	Sep. 30, 2016
6.00% Senior Secured Notes
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Issuance senior notes, stated percentage	6.00%	6.00%
Debt instrument, maturity date	Apr. 15, 2023	Apr. 15, 2023
8.25% Senior Unsecured Notes
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Issuance senior notes, stated percentage	8.25%	8.25%
Debt instrument, maturity date	Oct. 15, 2023	Oct. 15, 2023
Senior Secured Term Loan B Facility
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Debt instrument, maturity date	Oct. 24, 2022	Oct. 24, 2022
Senior Secured Revolving Credit Facility
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Line of credit facility, expiration date		Apr. 24, 2020

Fair Value of Financial Instr47

Fair Value of Financial Instruments - Additional Information (Details) - USD ($)	9 Months Ended
	Sep. 30, 2016	Aug. 31, 2016	Dec. 31, 2015
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Principal amount of notes and other debt	$ 3,973,250,000		$ 3,639,300,000
Estimated fair value of future contingent consideration	98,600,000	$ 98,600,000
Change in fair value of contingent consideration liability	0
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	$ 4,050,000,000

Fair Value of Financial Instr48

Fair Value of Financial Instruments - Roll Forward of Liability Measured at Fair Value on Recurring Basis Using Unobservable Inputs (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2016USD ($)
Fair Value Disclosures [Abstract]
Transfers into Level 3	$ 98,600
Contingent consideration, ending balance	$ 98,600

Property, Plant and Equipment -

Property, Plant and Equipment - Schedule of Carrying Value of Property, Plant and Equipment (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2016	Dec. 31, 2015
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	$ 6,678,177	$ 6,093,541
Less accumulated depreciation	(3,984,036)	(3,720,890)
Net property, plant and equipment	2,694,141	2,372,651
Land
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	34,295	33,386
Building and Improvements
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	314,577	313,736
Real Property Interests
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	2,394
Poles
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	231,835	228,031
Fiber
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	2,217,760	1,948,192
Equipment
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	127,496
Copper
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	3,518,283	3,475,987
Conduit
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	90,538	89,460
Construction in progress
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	44,693	$ 4,749
Tower assets
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	7,307
Capital Lease Assets
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	$ 88,999
Minimum | Building and Improvements
Property Plant And Equipment [Line Items]
Depreciable Lives	3 years
Minimum | Real Property Interests
Property Plant And Equipment [Line Items]
Depreciable Lives	50 years
Minimum | Poles
Property Plant And Equipment [Line Items]
Depreciable Lives	13 years
Minimum | Fiber
Property Plant And Equipment [Line Items]
Depreciable Lives	7 years
Minimum | Equipment
Property Plant And Equipment [Line Items]
Depreciable Lives	5 years
Minimum | Copper
Property Plant And Equipment [Line Items]
Depreciable Lives	7 years
Minimum | Conduit
Property Plant And Equipment [Line Items]
Depreciable Lives	13 years
Minimum | Tower assets
Property Plant And Equipment [Line Items]
Depreciable Lives	20 years
Maximum | Building and Improvements
Property Plant And Equipment [Line Items]
Depreciable Lives	40 years
Maximum | Poles
Property Plant And Equipment [Line Items]
Depreciable Lives	40 years
Maximum | Fiber
Property Plant And Equipment [Line Items]
Depreciable Lives	40 years
Maximum | Equipment
Property Plant And Equipment [Line Items]
Depreciable Lives	7 years
Maximum | Copper
Property Plant And Equipment [Line Items]
Depreciable Lives	40 years
Maximum | Conduit
Property Plant And Equipment [Line Items]
Depreciable Lives	47 years
Maximum | Tower assets
Property Plant And Equipment [Line Items]
Depreciable Lives	49 years

Property, Plant and Equipment50

Property, Plant and Equipment - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		5 Months Ended	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2015	Sep. 30, 2016
Property Plant And Equipment [Line Items]
Depreciation expense	$ 95	$ 86.2	$ 150	$ 271.7
Spinoff
Property Plant And Equipment [Line Items]
Construction in process transferred at the time of spin-off	$ 1.3			$ 1.3

Derivative Instruments and He51

Derivative Instruments and Hedging Activities - Additional Information (Details) - USD ($)	Apr. 27, 2015	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2015	Sep. 30, 2016
Derivative Instruments And Hedging Activities Disclosures [Line Items]
Unrealized loss on derivative instruments		$ (7,800,000)	$ (36,500,000)	$ (3,700,000)	$ (81,200,000)
Ineffective portion of change in fair value derivatives		0		0	0
Increase decrease in estimated interest expense					23,900,000
Interest Expense
Derivative Instruments And Hedging Activities Disclosures [Line Items]
Reclassification of other comprehensive income		$ 6,000,000	$ 6,000,000	$ 10,300,000	$ 17,800,000
Interest Rate Swap
Derivative Instruments And Hedging Activities Disclosures [Line Items]
Derivative, notional value	$ 2,120,000,000
Derivative, maturity date	Oct. 24, 2022
Derivative, weighted average fixed rate paid	2.105%
Interest Rate Swap | Minimum
Derivative Instruments And Hedging Activities Disclosures [Line Items]
LIBOR, variable rate	1.00%

Derivative Instruments and He52

Derivative Instruments and Hedging Activities - Summary of Fair Value of Derivative Instruments and Presentation in Condensed Consolidated Balance Sheet (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Derivatives Fair Value [Line Items]
Derivative liability	$ 68,758	$ 5,427
Interest Rate Swap
Derivatives Fair Value [Line Items]
Derivative liability	$ 68,758	$ 5,427

Goodwill and Intangible Asset53

Goodwill and Intangible Assets - Schedule of Carrying Amount of Goodwill (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2016USD ($)
Goodwill [Line Items]
Goodwill associated with 2016 acquisitions	$ 263,459
Goodwill at September 30, 2016	263,459
Fiber Infrastructure
Goodwill [Line Items]
Goodwill associated with 2016 acquisitions	263,459
Goodwill at September 30, 2016	$ 263,459

Goodwill and Intangible Asset54

Goodwill and Intangible Assets - Schedule of Carrying Value of the Intangible Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Schedule Of Indefinite And Finite Lived Intangible Assets And Liabilities [Line Items]
Total intangible assets, Cost	$ 190,642	$ 34,501
Less: Accumulated amortization	(27,701)	(23,971)
Total intangible assets, net	162,941	10,530
Trade Names
Schedule Of Indefinite And Finite Lived Intangible Assets And Liabilities [Line Items]
Indefinite life intangible assets, Cost	2,000
Customer Lists
Schedule Of Indefinite And Finite Lived Intangible Assets And Liabilities [Line Items]
Finite life intangible assets, Cost	188,642	34,501
Finite life intangible assets, Accumulated Amortization	$ (27,701)	$ (23,971)

Goodwill and Intangible Asset55

Goodwill and Intangible Assets - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		5 Months Ended	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2015	Sep. 30, 2016
Goodwill And Intangible Assets Disclosure [Abstract]
Amortization	$ 1.7	$ 0.9	$ 1.6	$ 3.7
Estimated amortization expense for 2016	6.1			6.1
2,017	8.7			8.7
2,018	8.1			8.1
2,019	7.5			7.5
2,020	7			7
2,021	$ 6.5			$ 6.5

Notes and Other Debt - Schedule

Notes and Other Debt - Schedule of Notes and Other Debt (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Principal amount of notes and other debt	$ 3,973,250	$ 3,639,300
Unamortized discount and debt issuance costs	(126,539)	(134,072)
Notes and other debt less unamortized discount and debt issuance costs	3,846,711	3,505,228
Senior Secured Notes - 6.00% Due April 15, 2023
Debt Instrument [Line Items]
Principal amount of notes and other debt	550,000	400,000
Unamortized discount and debt issuance costs	(10,127)	(6,767)
Senior Unsecured Notes - 8.25% Due October 15, 2023
Debt Instrument [Line Items]
Principal amount of notes and other debt	1,110,000	1,110,000
Unamortized discount and debt issuance costs	(46,746)	(50,200)
Senior Secured Term Loan B Facility
Debt Instrument [Line Items]
Principal amount of notes and other debt	2,113,250	2,129,300
Unamortized discount and debt issuance costs	(69,666)	$ (77,105)
Senior Secured Revolving Credit Facility
Debt Instrument [Line Items]
Principal amount of notes and other debt	$ 200,000

Notes and Other Debt - Schedu57

Notes and Other Debt - Schedule of Notes and Other Debt (Parenthetical) (Details)	8 Months Ended	9 Months Ended
	Dec. 31, 2015	Sep. 30, 2016
Senior Secured Notes - 6.00% Due April 15, 2023
Debt Instrument [Line Items]
Issuance senior notes, stated percentage	6.00%	6.00%
Debt instrument, maturity date	Apr. 15, 2023	Apr. 15, 2023
Debt instrument, imputed interest rate	6.29%	6.29%
Senior Unsecured Notes - 8.25% Due October 15, 2023
Debt Instrument [Line Items]
Issuance senior notes, stated percentage	8.25%	8.25%
Debt instrument, maturity date	Oct. 15, 2023	Oct. 15, 2023
Debt instrument, imputed interest rate	9.06%	9.06%
Senior Secured Term Loan B Facility
Debt Instrument [Line Items]
Debt instrument, maturity date	Oct. 24, 2022	Oct. 24, 2022
Debt instrument, imputed interest rate	5.66%	5.66%
Senior Secured Revolving Credit Facility
Debt Instrument [Line Items]
Line of credit facility, expiration date		Apr. 24, 2020

Notes and Other Debt - Addition

Notes and Other Debt - Additional Information (Details) - USD ($)	Aug. 31, 2016	Jun. 09, 2016	Apr. 25, 2015	Jun. 30, 2016	Sep. 30, 2015	Dec. 31, 2015	Sep. 30, 2016	Aug. 26, 2016	Apr. 22, 2016	Apr. 24, 2015
Debt Instrument [Line Items]
Amortization of deferred financing costs				$ 2,000,000	$ 3,039,000		$ 5,640,000
Minimum
Debt Instrument [Line Items]
Aggregate borrowing amount										$ 150,000,000
Maximum
Debt Instrument [Line Items]
Consolidated secured leverage ratio										500.00%
Consolidated total leverage ratio										650.00%
Maximum | Pro Forma
Debt Instrument [Line Items]
Consolidated secured leverage ratio										400.00%
Tower Cloud
Debt Instrument [Line Items]
Issuers transferred cash proceeds to parent	$ 187,700,000
Tower Cloud | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Aggregate borrowing amount								$ 150,000,000
Senior Secured Revolving Credit Facility
Debt Instrument [Line Items]
Line of credit facility, expiration date							Apr. 24, 2020
Senior Secured Notes - 6.00% Due April 15, 2023
Debt Instrument [Line Items]
Issuance senior notes, stated percentage						6.00%	6.00%
Debt instrument, maturity date						Apr. 15, 2023	Apr. 15, 2023
Senior Unsecured Notes - 8.25% Due October 15, 2023
Debt Instrument [Line Items]
Issuance senior notes, stated percentage						8.25%	8.25%
Debt instrument, maturity date						Oct. 15, 2023	Oct. 15, 2023
Senior Secured Term Loan B Facility
Debt Instrument [Line Items]
Debt instrument, maturity date						Oct. 24, 2022	Oct. 24, 2022
CSL Capital, LLC
Debt Instrument [Line Items]
Term loan issue price as a percentage of par										98.00%
CSL Capital, LLC | Senior Notes
Debt Instrument [Line Items]
Proceeds from issuance of debt			$ 0
CSL Capital, LLC | Senior Secured Revolving Credit Facility
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity									$ 321,000,000
Aggregate borrowing amount									$ 500,000,000
Line of credit facility, expiration date							Apr. 24, 2020
CSL Capital, LLC | Senior Secured Revolving Credit Facility | Minimum | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate			1.75%
CSL Capital, LLC | Senior Secured Revolving Credit Facility | Maximum | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate			2.25%
CSL Capital, LLC | Senior Secured Notes - 6.00% Due April 15, 2023
Debt Instrument [Line Items]
Issuance of senior notes, principal amount		$ 150,000,000
Issuance senior notes, stated percentage		6.00%
Debt instrument, maturity date							Apr. 15, 2023
Notes issued price percentage at par		99.25%
CSL Capital, LLC | Senior Secured Notes - 8.25% Due October 15, 2023
Debt Instrument [Line Items]
Issuance of senior notes, principal amount										$ 400,000,000
Notes issued price percentage at par			100.00%
CSL Capital, LLC | Senior Unsecured Notes - 8.25% Due October 15, 2023
Debt Instrument [Line Items]
Issuance of senior notes, principal amount										$ 1,110,000,000
Issuance senior notes, stated percentage										8.25%
Debt instrument, maturity date							Oct. 15, 2023
Notes issued price percentage at par			97.055%
CSL Capital, LLC | Senior Secured Term Loan B Facility
Debt Instrument [Line Items]
Issuance of senior notes, principal amount										$ 2,140,000,000
Debt instrument, maturity period							2022-10
Debt amortization percentage										1.00%
CSL Capital, LLC | Senior Secured Term Loan B Facility | Eurodollar
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate			4.00%
CSL Capital, LLC | Senior Secured Term Loan B Facility | Minimum | Eurodollar
Debt Instrument [Line Items]
Issuance senior notes, stated percentage										1.00%
Windstream Services LLC
Debt Instrument [Line Items]
Issuers transferred cash proceeds to parent			$ 1,040,000,000

Capital Stock - Additional Info

Capital Stock - Additional Information (Details) - USD ($) $ / shares in Units, $ in Millions	Aug. 31, 2016	Jun. 24, 2016	May 02, 2016	Sep. 30, 2016	Dec. 31, 2015
Schedule Of Capitalization Equity [Line Items]
Common stock, par value				$ 0.0001	$ 0.0001
Preferred stock, par value				$ 0.0001	$ 0.0001
Convertible preferred stock, terms of conversion				Holders of the Series A Shares have the option to convert at any time after three years, or are mandatorily convertible after eight years.
Common Stock
Schedule Of Capitalization Equity [Line Items]
Additional shares issued				5,077,629
Proceeds from issuance of public offering, net of underwriting discounts and commissions		$ 54.8
Common Stock | Public Offering
Schedule Of Capitalization Equity [Line Items]
Additional shares issued		2,200,000
Public offering price		$ 26.01
Tower Cloud | Common Stock
Schedule Of Capitalization Equity [Line Items]
Issuance of shares	1,900,000
Common stock, par value	$ 0.0001
PEG Bandwidth, LLC | 3% Series A Convertible Preferred Stock
Schedule Of Capitalization Equity [Line Items]
Issuance of shares			87,500
Preferred stock, par value			$ 0.0001
Preferred stock, liquidation value			$ 87.5
Percentage of dividend rate on convertible preferred stock			3.00%
Preferred stock, liquidation preference			$ 1,000
PEG Bandwidth, LLC | Common Stock
Schedule Of Capitalization Equity [Line Items]
Issuance of shares			1,000,000
Common stock, par value			$ 0.0001
PEG Bandwidth, LLC | Common Stock | 3% Series A Convertible Preferred Stock
Schedule Of Capitalization Equity [Line Items]
Convertible preferred stock, conversion rate			28.5714
PEG Bandwidth, LLC | Common Stock | Maximum | 3% Series A Convertible Preferred Stock
Schedule Of Capitalization Equity [Line Items]
Convertible preferred stock, conversion rate			50.5305

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Details)	Jun. 24, 2016USD ($)shares	Jun. 15, 2016shares	May 31, 2016USD ($)Tower	Apr. 25, 2015shares	Sep. 30, 2016USD ($)shares	Mar. 31, 2016USD ($)	Sep. 30, 2015USD ($)	Sep. 30, 2015USD ($)	Jun. 30, 2016USD ($)shares	Dec. 31, 2015USD ($)shares	Sep. 30, 2016USD ($)shares
Related Party Transaction [Line Items]
Common stock, shares issued | shares					155,123,000					149,862,000	155,123,000
Proceeds from disposition of common stock								$ (516,000)			$ 54,211,000
General and administrative expense					$ 10,191,000		$ 4,229,000	7,390,000			23,619,000
Operating expense					15,704,000		$ 5,148,000	8,889,000			30,322,000
Dividends payable					$ 94,470,000					$ 90,507,000	94,470,000
Payments related to tax withholding for share-based compensation								113,000			$ 2,123,000
Windstream
Related Party Transaction [Line Items]
Accounts receivable from related party to the collection of revenues of consumer CLEC business revenues										1,700,000
Dividends payable										$ 17,600,000
Dividend declared date										Nov. 6, 2015
Dividend record date										Dec. 31, 2015
Dividends payable date										Jan. 15, 2016
Common shares withheld to satisfy minimum statutory tax-withholding obligations | shares									91,412
Payments related to tax withholding for share-based compensation									$ 1,900,000
Number of wireless towers owned | Tower			32
Number of wireless towers owned by operating rights | Tower			49
Purchase price of wireless towers to be acquired			$ 3,000,000
Windstream | Master Lease
Related Party Transaction [Line Items]
Leasing revenue								291,100,000	337,600,000
Windstream | Transitional Service Agreement
Related Party Transaction [Line Items]
General and administrative expense						$ 19,000		88,000
Windstream | Common Stock
Related Party Transaction [Line Items]
Disposition of common stock in exchange for debt | shares		14,700,000
Windstream | Public Offering
Related Party Transaction [Line Items]
Common stock, shares issued | shares	14,700,000
Proceeds from disposition of common stock	$ 0
Windstream | Consumer CLEC Business | Wholesale Master Services Agreement
Related Party Transaction [Line Items]
Operating expense								6,500,000	6,600,000
Windstream | Consumer CLEC Business | Master Services Agreement
Related Party Transaction [Line Items]
Operating expense								$ 700,000	$ 900,000
Spinoff | Windstream | Consumer CLEC Business
Related Party Transaction [Line Items]
Common stock, shares issued | shares				149,800,000
Common stock, ownership interest percentage				19.60%
Spinoff | Windstream | Consumer CLEC Business | Share Distribution
Related Party Transaction [Line Items]
Percentage of stock distributed				80.40%

Earnings Per Share - Schedule 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		5 Months Ended	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2015	Sep. 30, 2016
Numerator:
Net (loss) income	$ (2,343)	$ 9,403	$ 17,704	$ 4,158
Less: Income allocated to participating securities	(407)	(430)	(755)	(1,164)
Dividends declared on convertible preferred stock	(649)			(1,087)
Amortization of discount on convertible preferred stock	(745)			(1,241)
Net (loss) income applicable to common shareholders	$ (4,144)	$ 8,973	$ 16,949	$ 666
Denominator:
Basic	153,878	149,834	149,831	151,578
Basic (loss) earnings per common share	$ (0.03)	$ 0.06	$ 0.11	$ 0
Numerator:
Net (loss) income	$ (2,343)	$ 9,403	$ 17,704	$ 4,158
Less: Income allocated to participating securities	(407)	(430)	(755)	(1,164)
Dividends declared on convertible preferred stock	(649)			(1,087)
Amortization of discount on convertible preferred stock	(745)			(1,241)
Net (loss) income applicable to common shares	$ (4,144)	$ 8,973	$ 16,949	$ 666
Denominator:
Basic weighted-average common shares outstanding	153,878	149,834	149,831	151,578
Effect of dilutive non-participating securities				138
Weighted-average shares for dilutive earnings per common share	153,878	149,834	149,831	151,716
Dilutive (loss) earnings per common share	$ (0.03)	$ 0.06	$ 0.11	$ 0

Earnings Per Share - Additional

Earnings Per Share - Additional Information (Details)	3 Months Ended
	Sep. 30, 2016shares
Earnings Per Share [Abstract]
Anti-dilutive securities excluded from the computation of diluted earnings per share	149,087

Segment Information - Additiona

Segment Information - Additional Information (Details)	9 Months Ended
	Sep. 30, 2016Segment
Segment Reporting [Abstract]
Number of operating business segments	3

Segment Information - Schedule

Segment Information - Schedule of Segment Information (Details) - USD ($) $ in Thousands		3 Months Ended		5 Months Ended	9 Months Ended
		Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2015	Sep. 30, 2016
Segment Reporting Information [Line Items]
Revenues		$ 200,240	$ 173,634	$ 302,382	$ 563,488
Adjusted EBITDA		175,676	165,036	287,220	513,025
Interest expense		70,522	66,511	115,307	204,607
Depreciation and amortization		96,723	87,271	151,715	275,448
Transaction related costs		9,315	804	877	24,435
Stock-based compensation		1,331	779	1,117	3,478
Income tax expense		128	268	500	899
Net (loss) income		(2,343)	9,403	17,704	4,158
Capital expenditures	[1]	9,752	315	712	19,204
Leasing
Segment Reporting Information [Line Items]
Revenues		169,525	166,959	291,131	507,216
Adjusted EBITDA		165,190	163,509	284,858	494,377
Depreciation and amortization		86,208	86,307	150,108	257,557
Capital expenditures	[1]	2,875	315	712	8,926
Fiber Infrastructure
Segment Reporting Information [Line Items]
Revenues		25,219			38,995
Adjusted EBITDA		9,273			14,773
Depreciation and amortization		9,701			15,448
Capital expenditures	[1]	6,877			10,278
Consumer CLEC
Segment Reporting Information [Line Items]
Revenues		5,496	6,675	11,251	17,277
Adjusted EBITDA		1,213	1,527	2,362	3,875
Depreciation and amortization		$ 814	$ 964	$ 1,607	$ 2,443
[1]	Segment capital expenditures represents capital expenditures as reported in the investing activities section of the Statement of Cash Flows.

Segment Information - Summary o

Segment Information - Summary of Total Assets by Business Segment (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Segment Reporting Information [Line Items]
Total assets	$ 3,217,534	$ 2,542,636
Leasing
Segment Reporting Information [Line Items]
Total assets	2,288,927	2,527,915
Fiber Infrastructure
Segment Reporting Information [Line Items]
Total assets	914,252
Consumer CLEC
Segment Reporting Information [Line Items]
Total assets	$ 14,355	$ 14,721

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details)	Sep. 30, 2016USD ($)
Commitments And Contingencies Disclosure [Abstract]
Obligations under tax matters agreement	$ 0

Accumulated Other Comprehensi67

Accumulated Other Comprehensive Income - Schedule of Changes in Accumulated Other Comprehensive Income by Component (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2016USD ($)
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning balance, value	$ (1,166,906)
Ending balance, value	(1,366,759)
Currency Translation Adjustment
Accumulated Other Comprehensive Income Loss [Line Items]
Other comprehensive loss before reclassifications	(180)
Ending balance, value	(180)
Accumulated Net Gain Loss From Designated Or Qualifying Cash Flow Hedges
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning balance, value	(5,427)
Other comprehensive loss before reclassifications	(81,163)
Amounts reclassified from accumulated other comprehensive income	17,832
Ending balance, value	(68,758)
Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning balance, value	(5,427)
Other comprehensive loss before reclassifications	(81,343)
Amounts reclassified from accumulated other comprehensive income	17,832
Ending balance, value	$ (68,938)

Supplemental Guarantor Inform68

Supplemental Guarantor Information - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		5 Months Ended	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2015	Sep. 30, 2016
Condensed Financial Statements Captions [Line Items]
Net income	$ (2,343)	$ 9,403	$ 17,704	$ 4,158
Comprehensive income	(4,314)	(33,141)	3,711	(59,353)
Net cash provided by operating activities			221,259	300,551
Net cash provided by financing activities			1,024,462	106,636
CS&L, Inc.
Condensed Financial Statements Captions [Line Items]
Earnings from consolidated subsidiaries	70,616	76,693	134,128	211,774
Net income	(2,343)	9,403	17,704	4,158
Comprehensive income	(4,314)	(33,141)	3,711	(59,353)
Net cash provided by operating activities			10,584	(105,789)
Net cash provided by financing activities			1,024,462	107,470
CS&L, Inc. | Scenario, Previously Reported [Member]
Condensed Financial Statements Captions [Line Items]
Earnings from consolidated subsidiaries		10,200	18,800
Net income		(57,100)	(97,600)
Comprehensive income		(99,700)	(111,600)
Guarantors
Condensed Financial Statements Captions [Line Items]
Net income	91,755	99,302	173,740	274,530
Comprehensive income	$ 91,755	$ 99,302	173,740	274,530
Net cash provided by operating activities			278,279	465,904
Net cash provided by financing activities			(68,809)	$ (253,540)
Guarantors | Offsetting Adjustments
Condensed Financial Statements Captions [Line Items]
Net cash provided by operating activities			68,800
Net cash provided by financing activities			$ (68,800)

Supplemental Guarantor Inform69

Supplemental Guarantor Information - Condensed Consolidating Balance Sheet (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Aug. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Apr. 23, 2015
Assets:
Property, plant and equipment, net	$ 2,694,141		$ 2,372,651
Cash and cash equivalents	40,762		142,498	$ 209,998	$ 18
Accounts receivable, net	15,846		2,083
Goodwill	263,459
Intangible assets, net	162,941		10,530
Straight-line revenue receivable	24,969		11,795
Other assets	15,416		3,079
Total Assets	3,217,534		2,542,636
Liabilities, Convertible Preferred Stock and Shareholders' Deficit:
Accounts payable, accrued expenses and other liabilities	37,925		10,409
Accrued interest payable	57,528		24,440
Deferred revenue	213,889		67,817
Derivative liability	68,758		5,427
Dividends payable	94,470		90,507
Deferred income taxes	31,390		5,714
Capital lease obligations	55,215
Contingent consideration	98,600	$ 98,600
Notes and other debt, net	3,846,711		3,505,228
Total liabilities	4,504,486		3,709,542
Shareholders' Deficit:
Common stock	15		15
Additional paid-in capital	140,466		1,392
Accumulated other comprehensive income (loss)	(68,938)		(5,427)
Distributions in excess of accumulated earnings	(1,438,302)		(1,162,886)
Total shareholders' deficit	(1,366,759)		(1,166,906)	(1,092,186)	2,508,420
Total Liabilities, Convertible Preferred Stock, and Shareholders' Deficit	3,217,534		2,542,636
Eliminations
Assets:
Affiliate receivable	(2,231)		(151)
Investment in consolidated subsidiaries	(7,105,653)		(4,928,593)
Total Assets	(7,107,884)		(4,928,744)
Liabilities, Convertible Preferred Stock and Shareholders' Deficit:
Accrued interest payable	(57,528)		(24,440)
Derivative liability	(68,578)		(5,427)
Affiliate payable	(2,231)		(151)
Notes and other debt, net	(3,846,711)		(3,505,228)
Total liabilities	(3,975,048)		(3,535,246)
Shareholders' Deficit:
Accumulated other comprehensive income (loss)	68,758		5,427
Distributions in excess of accumulated earnings	(3,201,594)		(1,398,925)
Total shareholders' deficit	(3,132,836)		(1,393,498)
Total Liabilities, Convertible Preferred Stock, and Shareholders' Deficit	(7,107,884)		(4,928,744)
CS&L, Inc.
Assets:
Cash and cash equivalents	1,698		17	17
Investment in consolidated subsidiaries	2,876,376		2,458,679
Other assets	1,041
Total Assets	2,879,115		2,458,696
Liabilities, Convertible Preferred Stock and Shareholders' Deficit:
Accrued interest payable	57,528		24,440
Derivative liability	68,758		5,427
Dividends payable	94,470		90,507
Contingent consideration	98,600
Notes and other debt, net	3,846,711		3,505,228
Total liabilities	4,166,067		3,625,602
Shareholders' Deficit:
Common stock	15		15
Additional paid-in capital	140,466		1,392
Accumulated other comprehensive income (loss)	(68,938)		(5,427)
Distributions in excess of accumulated earnings	(1,438,302)		(1,162,886)
Total shareholders' deficit	(1,366,759)		(1,166,906)
Total Liabilities, Convertible Preferred Stock, and Shareholders' Deficit	2,879,115		2,458,696
CSL Capital, LLC
Assets:
Investment in consolidated subsidiaries	2,876,376		2,458,679
Total Assets	2,876,376		2,458,679
Liabilities, Convertible Preferred Stock and Shareholders' Deficit:
Accrued interest payable	57,528		24,440
Derivative liability	68,578		5,427
Notes and other debt, net	3,846,711		3,505,228
Total liabilities	3,972,817		3,535,095
Shareholders' Deficit:
Accumulated other comprehensive income (loss)	(68,578)		(5,427)
Distributions in excess of accumulated earnings	(1,027,863)		(1,070,989)
Total shareholders' deficit	(1,096,441)		(1,076,416)
Total Liabilities, Convertible Preferred Stock, and Shareholders' Deficit	2,876,376		2,458,679
Guarantors
Assets:
Property, plant and equipment, net	2,017,542		1,839,603
Cash and cash equivalents	26,595		140,197	208,776	$ 18
Accounts receivable, net	8,642		474
Affiliate receivable			151
Goodwill	146,205
Intangible assets, net	37,562
Straight-line revenue receivable	24,762		11,795
Investment in consolidated subsidiaries	336,279		11,235
Other assets	11,265		2,781
Total Assets	2,608,852		2,006,236
Liabilities, Convertible Preferred Stock and Shareholders' Deficit:
Accounts payable, accrued expenses and other liabilities	20,604		9,204
Deferred revenue	134,714		44,862
Affiliate payable	2,231
Deferred income taxes	3,636		1,677
Capital lease obligations	48,512
Total liabilities	209,697		55,743
Shareholders' Deficit:
Distributions in excess of accumulated earnings	2,399,155		1,950,493
Total shareholders' deficit	2,399,155		1,950,493
Total Liabilities, Convertible Preferred Stock, and Shareholders' Deficit	2,608,852		2,006,236
Non-Guarantors
Assets:
Property, plant and equipment, net	676,599		533,048
Cash and cash equivalents	12,469		2,284	$ 1,205
Accounts receivable, net	7,204		1,609
Affiliate receivable	2,231
Goodwill	117,254
Intangible assets, net	125,379		10,530
Straight-line revenue receivable	207
Investment in consolidated subsidiaries	1,016,622
Other assets	3,110		298
Total Assets	1,961,075		547,769
Liabilities, Convertible Preferred Stock and Shareholders' Deficit:
Accounts payable, accrued expenses and other liabilities	17,321		1,205
Deferred revenue	79,175		22,955
Affiliate payable			151
Deferred income taxes	27,754		4,037
Capital lease obligations	6,703
Total liabilities	130,953		28,348
Shareholders' Deficit:
Accumulated other comprehensive income (loss)	(180)
Distributions in excess of accumulated earnings	1,830,302		519,421
Total shareholders' deficit	1,830,122		519,421
Total Liabilities, Convertible Preferred Stock, and Shareholders' Deficit	1,961,075		$ 547,769
Series A Convertible Preferred Stock
Liabilities, Convertible Preferred Stock and Shareholders' Deficit:
Convertible preferred stock	79,807
Series A Convertible Preferred Stock | CS&L, Inc.
Liabilities, Convertible Preferred Stock and Shareholders' Deficit:
Convertible preferred stock	$ 79,807

Supplemental Guarantor Inform70

Supplemental Guarantor Information - Condensed Consolidating Statement of Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended		5 Months Ended	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2015	Sep. 30, 2016
Revenues:
Total revenues	$ 200,240	$ 173,634	$ 302,382	$ 563,488
Costs and Expenses:
Interest expense	70,522	66,511	115,307	204,607
Depreciation and amortization	96,723	87,271	151,715	275,448
General and administrative expense	10,191	4,229	7,390	23,619
Operating expense	15,704	5,148	8,889	30,322
Transaction related costs	9,315	804	877	24,435
Total costs and expenses	202,455	163,963	284,178	558,431
(Loss) income before income taxes	(2,215)	9,671	18,204	5,057
Income tax expense	128	268	500	899
Net (loss) income	(2,343)	9,403	17,704	4,158
Comprehensive (loss) income	(4,314)	(33,141)	3,711	(59,353)
Eliminations
Costs and Expenses:
Interest expense	(69,600)	(66,511)	(115,307)	(203,357)
Total costs and expenses	(69,600)	(66,511)	(115,307)	(203,357)
Earnings from consolidated subsidiaries	(141,232)	(153,386)	(268,256)	(423,548)
(Loss) income before income taxes	(71,632)	(86,875)	(152,949)	(220,191)
Net (loss) income	(71,632)	(86,875)	(152,949)	(220,191)
Comprehensive (loss) income	(69,661)	(44,331)	(138,956)	(156,680)
CS&L, Inc.
Costs and Expenses:
Interest expense	67,683	66,511	115,307	200,210
General and administrative expense	1,331	779	1,117	3,461
Transaction related costs	3,945			3,945
Total costs and expenses	72,959	67,290	116,424	207,616
Earnings from consolidated subsidiaries	70,616	76,693	134,128	211,774
(Loss) income before income taxes	(2,343)	9,403	17,704	4,158
Net (loss) income	(2,343)	9,403	17,704	4,158
Comprehensive (loss) income	(4,314)	(33,141)	3,711	(59,353)
CSL Capital, LLC
Costs and Expenses:
Interest expense	69,600	66,511	115,307	203,357
Total costs and expenses	69,600	66,511	115,307	203,357
Earnings from consolidated subsidiaries	70,616	76,693	134,128	211,774
(Loss) income before income taxes	1,016	10,182	18,821	8,417
Net (loss) income	1,016	10,182	18,821	8,417
Comprehensive (loss) income	(854)	(32,362)	4,828	(54,914)
Guarantors
Revenues:
Total revenues	190,513	166,914	291,086	541,086
Costs and Expenses:
Interest expense	2,741			4,312
Depreciation and amortization	72,584	63,257	110,001	206,727
General and administrative expense	8,124	3,450	6,273	19,222
Operating expense	9,791			15,273
Transaction related costs	5,370	804	877	20,490
Total costs and expenses	98,610	67,511	117,151	266,024
(Loss) income before income taxes	91,903	99,403	173,935	275,062
Income tax expense	148	101	195	532
Net (loss) income	91,755	99,302	173,740	274,530
Comprehensive (loss) income	91,755	99,302	173,740	274,530
Non-Guarantors
Revenues:
Total revenues	9,727	6,720	11,296	22,402
Costs and Expenses:
Interest expense	98			85
Depreciation and amortization	24,139	24,014	41,714	68,721
General and administrative expense	736			936
Operating expense	5,913	5,148	8,889	15,049
Total costs and expenses	30,886	29,162	50,603	84,791
(Loss) income before income taxes	(21,159)	(22,442)	(39,307)	(62,389)
Income tax expense	(20)	167	305	367
Net (loss) income	(21,139)	(22,609)	(39,612)	(62,756)
Comprehensive (loss) income	(21,240)	(22,609)	(39,612)	(62,936)
Leasing
Revenues:
Total revenues	169,525	166,959	291,131	507,216
Costs and Expenses:
Depreciation and amortization	86,208	86,307	150,108	257,557
Leasing | Guarantors
Revenues:
Total revenues	168,772	166,914	291,086	505,569
Leasing | Non-Guarantors
Revenues:
Total revenues	753	45	45	1,647
Fiber Infrastructure
Revenues:
Total revenues	25,219			38,995
Costs and Expenses:
Depreciation and amortization	9,701			15,448
Fiber Infrastructure | Guarantors
Revenues:
Total revenues	21,741			35,517
Fiber Infrastructure | Non-Guarantors
Revenues:
Total revenues	3,478			3,478
Consumer CLEC
Revenues:
Total revenues	5,496	6,675	11,251	17,277
Costs and Expenses:
Depreciation and amortization	814	964	1,607	2,443
Consumer CLEC | Non-Guarantors
Revenues:
Total revenues	$ 5,496	$ 6,675	$ 11,251	$ 17,277

Supplemental Guarantor Inform71

Supplemental Guarantor Information - Condensed Consolidated Statement of Cash Flows (Details) - USD ($) $ in Thousands		3 Months Ended		5 Months Ended	9 Months Ended
		Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2015	Sep. 30, 2016
Cash flow from operating activities
Net cash provided by (used in) operating activities				$ 221,259	$ 300,551
Cash flow from investing activities
Acquisition of businesses, net of cash acquired					(489,538)
Consideration paid to Windstream Services				(1,035,029)
Capital expenditures	[1]	$ (9,752)	$ (315)	(712)	(19,204)
Net cash used in investing activities				(1,035,741)	(508,742)
Cash flow from financing activities
Proceeds from issuance of Term Loans				1,127,000
Principal payment on debt				(5,350)	(16,744)
Dividends paid				(66,522)	(273,692)
Proceeds from issuance of Notes					148,875
Borrowings under revolving credit facility					521,000
Payments under revolving credit facility					(321,000)
Capital lease payments					(945)
Deferred financing costs				(30,018)	(2,946)
Common stock issuance, net of costs				(516)	54,211
Net share settlement				(113)	(2,123)
Cash in-lieu of fractional shares				(19)
Net cash provided by financing activities				1,024,462	106,636
Effect of exchange rates on cash and cash equivalents					(181)
Net (decrease) increase in cash and cash equivalents				209,980	(101,736)
Cash and cash equivalents at beginning of period				18	142,498
Cash and cash equivalents at end of period		40,762	209,998	209,998	40,762
Eliminations
Cash flow from operating activities
Net cash provided by (used in) operating activities				(68,809)	(64,226)
Cash flow from financing activities
Intercompany transactions, net				68,809	64,226
Net cash provided by financing activities				68,809	64,226
CS&L, Inc.
Cash flow from operating activities
Net cash provided by (used in) operating activities				10,584	(105,789)
Cash flow from investing activities
Consideration paid to Windstream Services				(1,035,029)
Net cash used in investing activities				(1,035,029)
Cash flow from financing activities
Proceeds from issuance of Term Loans				1,127,000
Principal payment on debt				(5,350)	(16,744)
Dividends paid				(66,522)	(273,692)
Proceeds from issuance of Notes					148,875
Borrowings under revolving credit facility					521,000
Payments under revolving credit facility					(321,000)
Deferred financing costs				(30,018)	(2,946)
Common stock issuance, net of costs				(516)	54,211
Net share settlement				(113)	(2,123)
Intercompany transactions, net					(111)
Cash in-lieu of fractional shares				(19)
Net cash provided by financing activities				1,024,462	107,470
Net (decrease) increase in cash and cash equivalents				17	1,681
Cash and cash equivalents at beginning of period					17
Cash and cash equivalents at end of period		1,698	17	17	1,698
Guarantors
Cash flow from operating activities
Net cash provided by (used in) operating activities				278,279	465,904
Cash flow from investing activities
Acquisition of businesses, net of cash acquired					(316,244)
Capital expenditures				(712)	(9,722)
Net cash used in investing activities				(712)	(325,966)
Cash flow from financing activities
Capital lease payments					(898)
Intercompany transactions, net				(68,809)	(252,642)
Net cash provided by financing activities				(68,809)	(253,540)
Net (decrease) increase in cash and cash equivalents				208,758	(113,602)
Cash and cash equivalents at beginning of period				18	140,197
Cash and cash equivalents at end of period		26,595	208,776	208,776	26,595
Non-Guarantors
Cash flow from operating activities
Net cash provided by (used in) operating activities				1,205	4,662
Cash flow from investing activities
Acquisition of businesses, net of cash acquired					(173,294)
Capital expenditures					(9,482)
Net cash used in investing activities					(182,776)
Cash flow from financing activities
Capital lease payments					(47)
Intercompany transactions, net					188,527
Net cash provided by financing activities					188,480
Effect of exchange rates on cash and cash equivalents					(181)
Net (decrease) increase in cash and cash equivalents				1,205	10,185
Cash and cash equivalents at beginning of period					2,284
Cash and cash equivalents at end of period		$ 12,469	$ 1,205	$ 1,205	$ 12,469
[1]	Segment capital expenditures represents capital expenditures as reported in the investing activities section of the Statement of Cash Flows.

Subsequent Events - Additional

Subsequent Events - Additional Information (Details) - Subsequent Event $ in Millions	Nov. 14, 2016USD ($)Tower	Oct. 21, 2016
Senior Secured Term Loan B Facility
Subsequent Event [Line Items]
Debt instrument, decrease in interest rate		(0.50%)
Issuance senior notes, stated percentage		5.60%
Senior Secured Term Loan B Facility | London Interbank Offered Rate (LIBOR)
Subsequent Event [Line Items]
Debt instrument, basis spread on variable rate		3.50%
Senior Secured Term Loan B Facility | London Interbank Offered Rate (LIBOR) | Minimum
Subsequent Event [Line Items]
Issuance senior notes, stated percentage		1.00%
NMS | Latin America
Subsequent Event [Line Items]
Number of towers acquired	359
Number of towers additional acquisition when construction is completed	114
Purchase price | $	$ 65
Business acquisition, closing date	2017-03

Summary of Significant Accoun73

Summary of Significant Accounting Policies - Additional Information (Details)	4 Months Ended
	Apr. 23, 2015USD ($)
Consumer CLEC Business
Summary Of Significant Accounting Policies [Line Items]
Provision for doubtful accounts	$ 111,000