Uniti (UNIT) 10-Q 5 Aug 21 2021 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2021	Jul. 30, 2021
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2021
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q2
Trading Symbol	UNIT
Entity Registrant Name	Uniti Group Inc.
Entity Central Index Key	0001620280
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		233,407,367
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Shell Company	false
Entity Small Business	false
Entity Emerging Growth Company	false
Title of 12(b) Security	Common Stock
Security Exchange Name	NASDAQ
Entity File Number	001-36708
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	46-5230630
Entity Address, Address Line One	10802 Executive Center Drive
Entity Address, Address Line Two	Benton Building Suite 300
Entity Address, City or Town	Little Rock
Entity Address, State or Province	AR
Entity Address, Postal Zip Code	72211
City Area Code	501
Local Phone Number	850-0820
Document Quarterly Report	true
Document Transition Report	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Assets:
Property, plant and equipment, net	$ 3,400,755	$ 3,273,353
Cash and cash equivalents	108,536	77,534
Accounts receivable, net	42,986	62,952
Goodwill	601,878	601,878
Intangible assets, net	379,524	390,725
Straight-line revenue receivable	26,278	13,107
Other assets, net	115,730	152,883
Investment in unconsolidated entities	65,038	66,043
Deferred income tax assets, net	4,649
Assets held for sale		93,343
Total Assets	4,745,374	4,731,818
Liabilities:
Accounts payable, accrued expenses and other liabilities, net	136,577	146,144
Settlement payable (Note 14)	378,718	418,840
Intangible liabilities, net	183,133	187,886
Accrued interest payable	105,922	95,338
Deferred revenue	1,122,445	995,123
Derivative liability, net	16,786	22,897
Dividends payable	36,326	36,725
Deferred income tax liabilities, net		10,540
Finance lease obligations	14,497	15,468
Contingent consideration		2,957
Notes and other debt, net	4,884,410	4,816,524
Liabilities held for sale		55,752
Total liabilities	6,878,814	6,804,194
Commitments and contingencies (Note 14)
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: 231,805 shares at June 30, 2021 and 231,262 at December 31, 2020	23	23
Additional paid-in capital	1,153,707	1,209,141
Accumulated other comprehensive loss	(14,792)	(20,367)
Distributions in excess of accumulated earnings	(3,341,371)	(3,330,455)
Total Uniti shareholders' deficit	(2,202,433)	(2,141,658)
Noncontrolling interests:
Operating partnership units	68,868	69,157
Cumulative non-voting convertible preferred stock, $0.01 par value, 3 shares authorized, 1 issued and outstanding	125	125
Total shareholders' deficit	(2,133,440)	(2,072,376)
Total Liabilities and Shareholders' Deficit	$ 4,745,374	$ 4,731,818

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2021	Dec. 31, 2020
Statement Of Financial Position [Abstract]
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	50,000,000	50,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	500,000,000	500,000,000
Common stock, shares issued	231,805,000	231,262,000
Common stock, shares outstanding	231,805,000	231,262,000
Cumulative non-voting convertible preferred stock par value	$ 0.01	$ 0.01
Cumulative non-voting convertible preferred shares authorized	3,000	3,000
Cumulative non-voting convertible preferred shares issued	1,000	1,000
Cumulative non-voting convertible preferred shares outstanding	1,000	1,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income (Loss) (unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Revenues:
Total revenues	$ 268,180	$ 266,820	$ 540,766	$ 532,982
Costs and Expenses:
Interest expense	106,388	107,243	246,969	285,636
Depreciation and amortization	69,671	84,969	140,635	171,090
General and administrative expense	24,900	27,894	50,723	55,027
Operating expense (exclusive of depreciation and amortization)	33,185	40,167	71,269	80,477
Settlement expense		650,000		650,000
Transaction related and other costs	424	18,556	4,561	34,528
Gain on sale of real estate	(442)	(63,818)	(442)	(63,818)
Gain on sale of operations (Note 5)	(28,143)		(28,143)
Other expense, net	8,021	6,013	8,475	9,088
Total costs and expenses	214,004	871,024	494,047	1,222,028
Income (loss) before income taxes and equity in earnings from unconsolidated entities	54,176	(604,204)	46,719	(689,046)
Income tax expense (benefit)	5,084	(5,875)	2,527	(10,451)
Equity in (earnings) from unconsolidated entities	(547)		(945)
Net income (loss)	49,639	(598,329)	45,137	(678,595)
Net income (loss) attributable to noncontrolling interests	732	(10,585)	668	(11,998)
Net income (loss) attributable to shareholders	48,907	(587,744)	44,469	(666,597)
Participating securities' share in earnings	(333)	(424)	(581)	(624)
Dividends declared on convertible preferred stock	(2)	(1)	(5)	(4)
Net income (loss) attributable to common shareholders	$ 48,572	$ (588,169)	$ 43,883	$ (667,225)
Income (loss) per common share:
Basic	$ 0.21	$ (3.06)	$ 0.19	$ (3.47)
Diluted	$ 0.20	$ (3.06)	$ 0.19	$ (3.47)
Weighted-average number of common shares outstanding:
Basic	231,801	192,479	231,636	192,358
Diluted	262,268	192,479	231,862	192,358
Leasing
Revenues:
Total revenues	$ 196,057	$ 185,320	$ 390,993	$ 369,672
Costs and Expenses:
Depreciation and amortization	40,474	52,405	82,700	107,027
Fiber Infrastructure
Revenues:
Total revenues	72,123	79,140	149,773	156,547
Costs and Expenses:
Depreciation and amortization	$ 29,132	32,279	$ 57,802	62,340
Tower
Revenues:
Total revenues		2,392		6,112
Costs and Expenses:
Depreciation and amortization		14		783
Consumer CLEC
Revenues:
Total revenues		(32)		651
Costs and Expenses:
Depreciation and amortization		$ 197		$ 791

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Loss) (unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Statement Of Income And Comprehensive Income [Abstract]
Net income (loss)	$ 49,639	$ (598,329)	$ 45,137	$ (678,595)
Other comprehensive income (loss):
Unrealized loss on derivative contracts				(7,036)
Interest rate swap termination	2,829	2,830	5,658	4,496
Other comprehensive income (loss):	2,829	2,830	5,658	(2,540)
Comprehensive income (loss)	52,468	(595,499)	50,795	(681,135)
Comprehensive income (loss) attributable to noncontrolling interest	773	(10,535)	751	(12,043)
Comprehensive income (loss) attributable to common shareholders	$ 51,695	$ (584,964)	$ 50,044	$ (669,092)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Shareholders' Deficit (unaudited) - USD ($) $ in Thousands	Total	Cumulative Effect Adjustment for Adoption of New Accounting Standard	Common Stock	Additional Paid-in Capital	Additional Paid-in CapitalCumulative Effect Adjustment for Adoption of New Accounting Standard	Accumulated Other Comprehensive (Loss) Income	Distributions in Excess of Accumulated Earnings	Distributions in Excess of Accumulated EarningsCumulative Effect Adjustment for Adoption of New Accounting Standard	Noncontrolling Interest - OP Units	Noncontrolling Interest - Non-voting Preferred Shares
Beginning balance, value at Dec. 31, 2019	$ (1,483,164)		$ 19	$ 951,295		$ (23,442)	$ (2,494,740)		$ 83,704
Beginning balance, shares at Dec. 31, 2019			192,141,634
Net income (loss)	(678,595)						(666,597)		(11,998)
Other comprehensive income (loss)	(2,540)					(2,495)			(45)
Common stock dividends declared	(58,286)						(58,286)
Distributions to noncontrolling interest	(1,039)								(1,039)
Cumulative non-voting convertible preferred stock	125									$ 125
Payments related to tax withholding for stock-based compensation	(1,050)			(1,050)
Stock-based compensation	7,105			7,105
Stock-based compensation, shares			337,600
Issuance of common stock - employee stock purchase plan	306			306
Issuance of common stock - employee stock purchase plan, in shares			43,849
Ending balance, value at Jun. 30, 2020	(2,217,138)		$ 19	957,656		(25,937)	(3,219,623)		70,622	125
Ending balance, shares at Jun. 30, 2020			192,523,083
Beginning balance, value at Mar. 31, 2020	(1,595,451)		$ 19	954,223		(28,717)	(2,602,777)		81,676	125
Beginning balance, shares at Mar. 31, 2020			192,281,092
Net income (loss)	(598,329)						(587,744)		(10,585)
Other comprehensive income (loss)	2,830					2,780			50
Common stock dividends declared	(29,102)						(29,102)
Distributions to noncontrolling interest	(519)								(519)
Payments related to tax withholding for stock-based compensation	(677)			(677)
Stock-based compensation	4,110			4,110
Stock-based compensation, shares			241,991
Ending balance, value at Jun. 30, 2020	(2,217,138)		$ 19	957,656		(25,937)	(3,219,623)		70,622	125
Ending balance, shares at Jun. 30, 2020			192,523,083
Beginning balance, value at Dec. 31, 2020	$ (2,072,376)	$ (45,310)	$ 23	1,209,141	$ (59,908)	(20,367)	(3,330,455)	$ 14,598	69,157	125
Beginning balance, shares at Dec. 31, 2020			231,261,958
Accounting Standards Update Extensible List	unit:AccountingStandardUpdate202006Member
Net income (loss)	$ 45,137						44,469		668
Other comprehensive income (loss)	5,658					5,575			83
Common stock dividends declared	(69,983)						(69,983)
Distributions to noncontrolling interest	(1,040)								(1,040)
Payments related to tax withholding for stock-based compensation	(2,642)			(2,642)
Stock-based compensation	6,797			6,797
Stock-based compensation, shares			507,199
Issuance of common stock - employee stock purchase plan	319			319
Issuance of common stock - employee stock purchase plan, in shares			35,764
Ending balance, value at Jun. 30, 2021	(2,133,440)		$ 23	1,153,707		(14,792)	(3,341,371)		68,868	125
Ending balance, shares at Jun. 30, 2021			231,804,921
Beginning balance, value at Mar. 31, 2021	(2,153,690)		$ 23	1,150,550		(17,580)	(3,355,423)		68,615	125
Beginning balance, shares at Mar. 31, 2021			231,694,203
Net income (loss)	49,639						48,907		732
Other comprehensive income (loss)	2,829					2,788			41
Common stock dividends declared	(34,855)						(34,855)
Distributions to noncontrolling interest	(520)								(520)
Payments related to tax withholding for stock-based compensation	(336)			(336)
Stock-based compensation	3,462			3,462
Stock-based compensation, shares			110,718
Issuance of common stock - employee stock purchase plan	31			31
Ending balance, value at Jun. 30, 2021	$ (2,133,440)		$ 23	$ 1,153,707		$ (14,792)	$ (3,341,371)		$ 68,868	$ 125
Ending balance, shares at Jun. 30, 2021			231,804,921

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Shareholders' Deficit (unaudited) (Parenthetical) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Statement Of Stockholders Equity [Abstract]
Common stock dividends declared per share	$ 0.15	$ 0.15	$ 0.15	$ 0.15

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Cash flow from operating activities
Net income (loss)	$ 45,137	$ (678,595)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	140,635	171,090
Amortization of deferred financing costs and debt discount	9,371	18,666
Loss on debt extinguishment	43,369	73,952
Interest rate swap termination	5,658	4,496
Deferred income taxes	605	(11,209)
Equity in (earnings) from unconsolidated entities	(945)
Distributions of cumulative earnings from unconsolidated entities	1,950
Cash paid for interest rate swap settlement	(6,110)	(2,251)
Straight-line revenues	(14,215)	711
Stock-based compensation	6,797	7,105
Change in fair value of contingent consideration	21	6,140
Gain on sale of real estate	(442)	(63,818)
Gain on sale of operations	(28,143)
(Gain) loss on asset disposals	(218)	672
Accretion of settlement obligation	8,889
Other	143	(195)
Changes in assets and liabilities, net of acquisitions:
Accounts receivable	19,965	6,263
Other assets	39,019	(8,285)
Accounts payable, accrued expenses and other liabilities	46,991	51,539
Settlement payable (Note 15)		650,000
Net cash provided by operating activities	318,477	226,281
Cash flow from investing activities
Other capital expenditures	(177,934)	(134,035)
Proceeds from sale of real estate, net of cash	1,034	225,149
Proceeds from sale of operations (Note 5)	62,113
Proceeds from sale of other equipment	399
Net cash (used in) provided by investing activities	(114,388)	91,114
Cash flow from financing activities
Repayment of debt	(1,660,000)	(2,044,728)
Proceeds from issuance of notes	1,680,000	2,250,000
Dividends paid	(70,386)	(71,645)
Payment of settlement obligation	(49,011)
Payments of contingent consideration	(2,979)	(7,086)
Distributions paid to noncontrolling interest	(1,039)	(1,282)
Borrowings under revolving credit facility	205,000	10,000
Payments under revolving credit facility	(220,000)	(456,700)
Finance lease payments	(1,393)	(1,979)
Payments for financing costs	(25,156)	(47,775)
Costs related to the early repayment of debt	(25,800)
Employee stock purchase program	319	306
Payments related to tax withholding for stock-based compensation	(2,642)	(1,050)
Net cash used in financing activities	(173,087)	(371,939)
Net increase (decrease) in cash and cash equivalents	31,002	(54,544)
Cash and cash equivalents at beginning of period	77,534	142,813
Cash and cash equivalents at end of period	108,536	88,269
Non-cash investing and financing activities:
Property and equipment acquired but not yet paid	17,764	17,825
Tenant capital improvements	$ 106,789	$ 87,017

Organization and Description of

Organization and Description of Business	6 Months Ended
	Jun. 30, 2021
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Organization and Description of Business	Note 1. Organization and Description of Business Uniti Group Inc. (the “Company,” “Uniti,” “we,” “us,” or “our”) was incorporated in the state of Maryland on September 4, 2014. We are an independent internally managed real estate investment trust (“REIT”) engaged in the acquisition, construction and leasing of mission critical infrastructure in the communications industry. We are principally focused on acquiring and constructing fiber optic, copper and coaxial broadband networks and data centers. We have historically managed our operations in four As a result, effective January 1, 2021, we manage our operations focused on our two primary lines of business: Uniti Fiber and Uniti Leasing. The Company operates through a customary “up-REIT” structure, pursuant to which we hold substantially all of our assets through a partnership, Uniti Group LP, a Delaware limited partnership (the “Operating Partnership”), that we control as general partner, with the only significant difference between the financial position and results of operations of the Operating Partnership and its subsidiaries compared to the consolidated financial position and consolidated results of operations of Uniti is that the results for the Operating Partnership and its subsidiaries do not include Uniti’s Consumer CLEC segment, which consists of Talk America Services (“Talk America”), which we substantially completed the wind down of the business as of the end of the second quarter of 2020.

Basis of Presentation and Summa

Basis of Presentation and Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2021
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 include all accounts of the Company and its wholly-owned and/or controlled subsidiaries, including the Operating Partnership. Under the Accounting Standards Codification 810, Consolidation . ASC 810 provides guidance on the identification of entities for which control is achieved through means other than voting rights (“variable interest entities” or “VIEs”) and the determination of which business enterprise, if any, should consolidate the VIEs. Generally, the consideration of whether an entity is a VIE applies when either: (1) the equity investors (if any) lack (i) the ability to make decisions about the entity’s activities through voting or similar rights, (ii) the obligation to absorb the expected losses of the entity, or (iii) the right to receive the expected residual returns of the entity; (2) the equity investment at risk is insufficient to finance that entity’s activities without additional subordinated financial support; or (3) the equity investors have voting rights that are not proportionate to their economic interests and substantially all of the activities of the entity involve or are conducted on behalf of an investor with a disproportionately small voting interest. The Company consolidates VIEs in which it is considered to be the primary beneficiary. The primary beneficiary is defined as the entity having both of the following characteristics: (1) the power to direct the activities that, when taken together, most significantly impact the VIE’s performance; and (2) the obligation to absorb losses and right to receive the returns from the VIE that would be significant to the VIE. The accompanying Condensed Consolidated Financial Statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information set forth in the Accounting Standards Codification (“ASC”), as published by the Financial Accounting Standards Board (“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 filed with the SEC on March 5, 2021, as amended by Amendment No. 1 thereto filed on Form 10-K/A with the SEC on March 30, 2021 (the “Annual Report”) Concentration of Credit Risks e were party to a long-term exclusive triple-net lease (the “Master Lease”) with Windstream Holdings, Inc. (together with Windstream Holdings II, LLC, its successor in interest, and its subsidiaries, “Windstream”) pursuant to which a substantial portion of our real property was leased to Windstream and from which a substantial portion of our leasing revenues were derived. On September 18, 2020, Uniti and Windstream bifurcated the Master Lease and entered into two structurally similar master leases (collectively, the “Windstream Leases”), which amended and restated the Master Lease in its entirety. Windstream Windstream Windstream Prior to its emergence from bankruptcy on September 21, 2020, Windstream was a publicly traded company subject to the periodic filing requirements of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). Windstream’s historic filings through their quarter ended June 30, 2020 can be found at www.sec.gov. Additionally, the Windstream audited financial statements as of December 31, 2020 and for the period from September 22, 2020 to December 31, 2020 and as of December 31, 2019 and for the period from January 1, 2020 to September 21, 2020 and for each of the two years in the period ended December 31, 2019 are included as an exhibit to our Annual Report. We monitor the credit quality of Windstream through numerous methods, including by (i) reviewing credit ratings of Windstream by nationally recognized credit agencies, (ii) reviewing the financial statements of Windstream that are required to be delivered to us pursuant to the Windstream Leases, (iii) monitoring news reports regarding Windstream and its business, (iv) conducting research to ascertain industry trends potentially affecting Windstream, (v) monitoring Windstream’s compliance with the terms of the Windstream Leases and (vi) monitoring the timeliness of its payments under the Windstream Leases. As of the date of this Quarterly Report on Form 10-Q, Windstream is current on all lease payments. We note that in August 2020, Moody’s Investor Service assigned a B3 corporate family rating with a stable outlook to Windstream in connection with its post-emergence exit financing. At the same time, S&P Global Ratings assigned Windstream a B- issuer rating with a stable outlook. In order to assist us in our continuing assessment of Windstream’s creditworthiness, we periodically receive certain confidential financial information and metrics from Windstream. Recently Adopted Accounting Pronouncements In August 2020, the FASB issued ASU 2020-06, Debt - Debt with Conversion and Other Options (Subtopic 470- 20) and Derivatives and Hedging - Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity In addition, entities must presume share settlement for purposes of calculating diluted EPS when an instrument may be settled in cash or shares. ASU 2020-06 is effective for fiscal years beginning after December 15, 2021, and interim periods within those fiscal years, with early adoption permitted. The Company elected to early adopt the guidance ASU 2020-06 as of January 1, 2021 using the modified retrospective transition method. As a result of early adopting ASU 2020-06, the Company made certain adjustments to its accounting for the outstanding exchangeable senior unsecured notes. The adoption of ASU 2020-06 resulted in the re-combination of the liability and equity components of these notes into a single liability instrument. The carrying value as of December 31, 2020, totaled approximately $275.4 million and as a result of the adoption increased by $61.1 million to $336.5 million as of January 1, 2021. Because of this adoption, the effective interest rate on the exchangeable senior unsecured notes went from 11.1% to 4.8%. Additional paid-in-capital was reduced by $59.9 million and deferred tax liabilities were reduced by $15.8 million. Approximately $14.6 million of cumulative effect of adoption was recognized to the opening balance of retained earnings as of January 1, 2021.

Revenues

Revenues	6 Months Ended
	Jun. 30, 2021
Revenue From Contract With Customer [Abstract]
Revenues	Note 3. Revenues The following is a description of principal activities, separated by reportable segments (see Note 13), from which the Company generates its revenues. Leasing Leasing revenue represents the results from our leasing program, Uniti Leasing, which is engaged in the acquisition of mission-critical communications assets and leasing them to anchor customers on either an exclusive or shared-tenant basis. See Note 4. Fiber Infrastructure The Fiber Infrastructure segment represents the operations of our fiber business, Uniti Fiber, which provides (i) consumer, enterprise, wholesale and backhaul lit fiber, (ii) E-rate, (iii) small cell, (iv) construction services, (v) dark fiber and (vi) other revenue generating activities. i. Consumer, enterprise, wholesale, and backhaul lit fiber fall under the guidance of Topic 606. Revenue is recognized over the life of the contracts in a pattern that reflects the satisfaction of Uniti’s stand-ready obligation to provide lit fiber services. The transaction price is equal to the monthly-recurring charge multiplied by the contract term, plus any non-recurring or variable charges. For each contract, the customer is invoiced monthly. ii. E-rate contracts involve providing lit fiber services to schools and libraries, and is governed by Topic 606. Revenue is recognized over the life of the contract in a pattern that reflects the satisfaction of Uniti’s stand-ready obligation to provide lit fiber services. The transaction price is equal to the monthly-recurring charge multiplied by the contract term, plus any non-recurring or variable charges. For each contract, the customer is invoiced monthly. iii. Small cell contracts provide improved network connection to areas that may not require or accommodate a tower. Small cell arrangements typically contain five streams of revenue: site development, radio frequency (“RF”) design, dark fiber lease, construction services, and maintenance services. Site development, RF design and construction are each separate services and are considered distinct performance obligations under Topic 606. Dark fiber and associated maintenance services constitute a lease, and as such, they are outside the scope of Topic 606 and are governed by other applicable guidance. iv. Construction revenue is generated from contracts to provide various construction services such as equipment installation or the laying of fiber. Construction revenue is recognized over time as construction activities occur as we are either enhancing a customer’s owned asset or constructing an asset with no alternative use to us and we would be entitled to our costs plus a reasonable profit margin if the contract was terminated early by the customer. We are utilizing our costs incurred as the measure of progress of satisfying our performance obligation. v. Dark fiber arrangements represent operating leases under ASC 842, Leases (“ASC 842”) and are outside the scope of Topic 606. When (a) a customer makes an advance payment or (b) a customer is contractually obligated to pay any amounts in advance, which is not deemed a separate performance obligation, deferred leasing revenue is recorded. This leasing revenue is recognized ratably over the expected term of the contract, unless the pattern of service suggests otherwise. vi. The Company generates revenues from other services, such as consultation services and equipment sales. Revenue from the sale of customer premise equipment and modems that are not provided as an essential part of the telecommunications services, including broadband, long distance, and enhanced services is recognized when products are delivered to and accepted by the customer. Revenue from customer premise equipment and modems provided as an essential part of the telecommunications services, including broadband, long distance, and enhanced services are recognized over time in a pattern that reflects the satisfaction of the service performance obligation. Towers The Towers segment represents the operations of our former towers business, Uniti Towers, through which we acquired and constructed tower and tower-related real estate, which we then leased to our customers in the United States and Latin America. Revenue from our towers business qualifies as a lease under ASC 842 and is outside the scope of Topic 606. Starting in 2019, the Company completed a series of transactions to largely divest of its towers business and on April 2, 2019, May 23, 2019 and June 1, 2020, the Company completed the sales of its Latin American business, substantially all of its U.S. ground lease business, and its U.S. tower business, respectively Consumer CLEC The Consumer CLEC segment represents the operations of Talk America through which we operated the Consumer CLEC Business, which provided local telephone, high-speed internet and long-distance services to customers in the eastern and central United States. Customers are billed monthly for services rendered based on actual usage or contracted amounts. The transaction price is equal to the monthly-recurring charge multiplied by the initial contract term (typically 12 months), plus any non-recurring or variable charges. As of the end of the second quarter of 2020, we substantially completed a wind down of our Consumer CLEC business. Disaggregation of Revenue The following table presents our revenues disaggregated by revenue stream. Three Months Ended June 30, Six Months Ended June 30, (Thousands) 2021 2020 2021 2020 Revenue disaggregated by revenue stream Revenue from contracts with customers Fiber Infrastructure Lit backhaul $ 22,979 $ 27,216 $ 48,023 $ 55,408 Enterprise and wholesale 21,327 19,628 42,327 38,886 E-Rate and government 15,926 21,821 35,290 42,758 Other 824 755 1,640 1,303 Fiber Infrastructure $ 61,056 $ 69,420 $ 127,280 $ 138,355 Consumer CLEC - (32 ) - 651 Leasing 1,000 - 2,167 - Total revenue from contracts with customers 62,056 69,388 129,447 139,006 Revenue accounted for under other applicable guidance 206,124 197,432 411,319 393,976 Total revenue $ 268,180 $ 266,820 $ 540,766 $ 532,982 At June 30, 2021, and December 31, 2020, lease receivables were $15.1 million and $17.5 million, respectively, and receivables from contracts with customers were $22.7 million and $45.1 million, respectively. Contract Assets (Unbilled Revenue) and Liabilities (Deferred Revenue) Contract assets primarily consist of unbilled construction revenue where we are utilizing our costs incurred as the measure of progress of satisfying our performance obligation, contract assets are reported within accounts receivable, net on our Consolidated Balance Sheet. When the contract price is invoiced, the related unbilled receivable is reclassified to trade accounts receivable, where the balance will be settled upon the collection of the invoiced amount. Contract liabilities are generally comprised of upfront fees charged to the customer for the cost of establishing the necessary components of the Company’s network prior to the commencement of use by the customer. Fees charged to customers for the recurring use of the Company’s network are recognized during the related periods of service. Upfront fees that are billed in advance of providing services are deferred until such time the customer accepts the Company’s network and then are recognized as service revenues ratably over a period in which substantive services required under the revenue arrangement are expected to be performed, which is the initial term of the arrangement . During the three and six months ended June 30 , 202 1 , we recognized revenues of $ 3.0 million and $ 8.1 million, respectively , which was included in the December 31, 20 20 contract liabilities balance. The following table provides information about contract assets and contract liabilities accounted for under Topic 606. (Thousands) Contract Assets Contract Liabilities Balance at December 31, 2020 $ 3,462 $ 18,601 Balance at June 30, 2021 $ 1,624 $ 13,970 Transaction Price Allocated to Remaining Performance Obligations Performance obligations within contracts to stand ready to provide services are typically satisfied over time or as those services are provided. Contract liabilities primarily relate to deferred revenue from upfront customer payments. The deferred revenue is recognized, and the liability reduced, over the contract term as the Company completes the performance obligation. As of June 30, 2021, our future revenues (i.e., transaction price related to remaining performance obligations) under contract accounted for under Topic 606 totaled $418.7 1.7 6.2 Practical Expedients and Exemptions We do not disclose the value of unsatisfied performance obligations for contracts that have an original expected duration of one year or less. We exclude from the transaction price any amounts collected from customers for sales taxes and therefore, such amounts are not included in revenue.

Leases

Leases	6 Months Ended
	Jun. 30, 2021
Leases [Abstract]
Leases	Note 4. Leases Lessor Accounting We lease communications towers, ground, colocation, and dark fiber to tenants under operating leases. Our leases have initial lease terms ranging from less than one year to 35 years, most of which include options to extend or renew the leases for less than one year to 20 years (based on the satisfaction of certain conditions as defined in the lease agreements), and some of which may include options to terminate the leases within one to six months. Certain lease agreements contain provisions for future rent increases. Payments due under the lease contracts include fixed payments plus, for some of our leases, variable payments. The components of lease income for the three and six months ended June 30, 2021 Three Months Ended June 30, Six Months Ended June 30, (Thousands) 2021 2020 2021 2020 Lease income - operating leases $ 206,124 $ 197,432 $ 411,319 $ 393,976 Lease payments to be received under non-cancellable operating leases where we are the lessor for the remainder of the lease terms as of June 30, 2021 are as follows: (Thousands) June 30, 2021 (1) 2021 $ 368,041 2022 751,516 2023 755,574 2024 757,431 2025 759,168 Thereafter 3,734,183 Total lease receivables $ 7,125,913 (1) The underlying assets under operating leases where we are the lessor are summarized as follows: (Thousands) June 30, 2021 December 31, 2020 Land $ 26,596 $ 26,596 Building and improvements 340,096 335,495 Poles 273,934 266,758 Fiber 3,147,976 2,994,465 Equipment 428 421 Copper 3,902,265 3,850,988 Conduit 89,960 89,773 Tower assets 1,397 1,397 Finance lease assets 28,126 32,660 Other assets 10,643 10,425 7,821,421 7,608,978 Less: accumulated depreciation (5,319,033 ) (5,222,731 ) Underlying assets under operating leases, net $ 2,502,388 $ 2,386,247 Depreciation expense for the underlying assets under operating leases where we are the lessor for the three and six months ended June 30, 2021 and 2020, respectively, is summarized as follows: Three Months Ended June 30, Six Months Ended June 30, (Thousands) 2021 2020 2021 2020 Depreciation expense for underlying assets under operating leases $ 44,107 $ 53,303 $ 90,020 $ 109,437 Lessee Accounting We have commitments under operating leases for communications towers, ground, colocation, dark fiber lease arrangements, and buildings. We also have finance leases for dark fiber lease arrangements and other communications equipment. Our leases have initial lease terms ranging from less than one year to 30 years, most of which include options to extend or renew the leases for less than one year to 20 years, and some of which may include options to terminate the leases within one to six months. Certain lease agreements contain provisions for future rent increases. Payments due under the lease contracts include fixed payments plus, for some of our leases, variable payments. As of June 30, 2021 million The components of lease cost for the three and six months ended June 30, 2021 and 2020 Three Months Ended June 30, Six Months Ended June 30, (Thousands) 2021 2020 2021 2020 Finance lease cost Amortization of ROU assets $ 1,335 $ 954 $ 2,697 $ 1,979 Interest on lease liabilities 717 969 1,627 1,957 Total finance lease cost 2,052 1,923 4,324 3,936 Operating lease cost 3,102 6,421 8,215 13,959 Short-term lease cost 748 526 1,440 1,009 Variable lease cost 109 66 296 84 Less sublease income (3,246 ) (3,076 ) (6,228 ) (6,770 ) Total lease cost $ 2,765 $ 5,860 $ 8,047 $ 12,218 Amounts reported in the Condensed Consolidated Balance Sheets for leases where we are the lessee were as follows: (Thousands) Location on Condensed Consolidated Balance Sheets June 30, 2021 December 31, 2020 Operating leases ROU assets, net Other assets, net $ 73,620 $ 97,850 Lease liabilities Accounts payable, accrued expenses and other liabilities, net 49,909 71,483 Finance leases ROU asset, gross Property, plant and equipment, net $ 71,444 $ 128,098 Lease liabilities Finance lease obligations 14,497 48,724 Weighted-average remaining lease term Operating leases 8.8 years 12.2 years Finance leases 13.3 years 13.3 years Weighted-average discount rate Operating leases 9.5 % 9.9 % Finance leases 11.0 % 8.0 % Other information related to leases as of June 30, 2021 and 2020 , respectively, (Thousands) 2021 2020 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from finance leases $ 1,627 $ 1,957 Operating cash flows from operating leases 10,381 14,470 Financing cash flows from finance leases 1,393 1,979 Non-cash items: New operating leases and remeasurements, net $ 1,722 $ 3,847 New finance leases - 31 Future lease payments under non-cancellable leases as of June 30, 2021 (Thousands) Operating Leases Finance Leases 2021 $ 7,446 $ 1,164 2022 12,672 2,225 2023 10,484 2,174 2024 8,064 1,972 2025 5,439 1,911 Thereafter 31,892 15,440 Total undiscounted lease payments $ 75,997 $ 24,886 Less: imputed interest (26,088 ) (10,389 ) Total lease liabilities $ 49,909 $ 14,497 Future sublease rentals as of June 30, 2021 are as follows: (Thousands) Sublease Rentals 2021 $ 4,458 2022 9,310 2023 9,377 2024 9,445 2025 9,513 Thereafter 136,177 Total $ 178,280

Asset Dispositions

Asset Dispositions	6 Months Ended
	Jun. 30, 2021
Discontinued Operations And Disposal Groups [Abstract]
Asset Dispositions	Note 5. Asset Dispositions 2021 Transaction Everstream OpCo-PropCo Transaction On May 28, 2021, the Company completed its previously announced strategic transaction with Everstream Solutions LLC (“Everstream”). As part of the transaction, Uniti entered into two 20-year dark fiber indefeasible rights of use (“IRU”) lease agreements with Everstream on Uniti owned fiber. Concurrently, Uniti sold its Uniti Fiber Northeast operations and certain dark fiber IRU contracts acquired as part of the Windstream settlement to Everstream. Total cash consideration, including upfront IRU payments, was approximately $135 million. In addition to the upfront proceeds, Uniti will receive fees of approximately $3 million (Thousands) June 30, 2021 Assets and liabilities sold: Assets: Property, plant and equipment, net $ 44,685 Goodwill 17,794 Intangible assets, net 7,264 Right of use assets, net 19,841 Total assets $ 89,584 Liabilities: Lease liabilities $ 18,779 Intangible liabilities, net 4,492 Finance lease obligations 32,343 Total liabilities $ 55,614 Cash consideration $ 62,113 Less: total assets and liabilities sold, net (33,970 ) Gain on sale of operations $ 28,143 2020 Transaction Sale of U.S. Tower Portfolio On June 1, 2020, the Company completed the sale of its U.S. tower business to Melody Investment Advisors LP (“Melody”), selling net assets having a book value of $190.0 million for total cash consideration of $225.8 million. The Company retained a 10% investment interest in the tower business, having a fair value of $26.0 million, through a newly formed limited partnership with Melody ( see Note 6 ), and will receive incremental earn-out payments, estimated to be $1.6 million, which is included in other assets on the Condensed Consolidated Balance Sheet as of December 31, 2020. During the quarter ended June 30, 2020, we recorded a gain of $63.4 million related to this transaction.

Investments in Unconsolidated E

Investments in Unconsolidated Entities	6 Months Ended
	Jun. 30, 2021
Equity Method Investments And Joint Ventures [Abstract]
Investments in Unconsolidated Entities	Note 6. Investments in Unconsolidated Entities As of June 30, 2021, the Company had an aggregate investment of $65.0 million in its equity method unconsolidated entities, which included a 42% interest in BB Fiber Holdings LLC (“Fiber Holdings”) Harmoni Towers LP (“Harmoni”) Fiber Holdings Fiber Holdings was primarily established to develop fiber networks as real estate property for long-term investment. On July 1, 2020, the Company completed the sale of an ownership stake in the entity that controls the Company’s Midwest fiber network assets (the “Propco”). Fiber Holdings has a 47.5% ownership in the Propco that is under a long-term, triple net lease with our joint venture partner. Our ownership interest in Fiber Holdings represents approximately a 20% economic interest in the Propco. The Company’s current investment and maximum exposure to loss as a result of its involvement with was approximately $40.5 million as of June 30, 2021. The Company has not provided financial support to Harmoni Harmoni was primarily established to develop wireless communication towers as real estate property for long-term investment. We concluded that Harmoni is a VIE; however, the Company determined that it was not the primary beneficiary of Harmoni . The Company’s current investment and maximum exposure to loss as a result of its involvement with Harmoni was approximately $24.5 million as of June 30, 2021. The Company has not provided financial support to . We provide transition services to Harmoni in exchange for fees and reimbursements. Total transition service fees earned in connection with Harmoni for the three and six months ended June 30, 2021 were $0.1 million and $0.2 million, respectively, which is included in operating expense on a net basis in our Condensed Consolidated Statements of Income (Loss).

Fair Value of Financial Instrum

Fair Value of Financial Instruments	6 Months Ended
	Jun. 30, 2021
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	Note 7. 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; and Level 3 – Unobservable inputs for the asset or liability. Our financial instruments consist of cash and cash equivalents, accounts and other receivables, a derivative asset and liability, our outstanding notes and other debt, contingent consideration and accounts, interest and dividends payable. The following table summarizes the fair value of our financial instruments at June 30, 2021 and December 31, 2020: (Thousands) Total Quoted Prices in Active Markets (Level 1) Prices with Other Observable Inputs (Level 2) Prices with Unobservable Inputs (Level 3) At June 30, 2021 Liabilities Senior secured notes - 7.875%, due February 15, 2025 $ 2,410,313 $ - $ 2,410,313 $ - Senior secured notes - 4.75%, due April 15, 2028 569,288 - 569,288 - Senior unsecured notes - 7.125%, due December 15, 2024 621,000 - 621,000 - Senior unsecured notes - 6.50%, due February 15, 2029 1,115,550 - 1,115,550 - Exchangeable senior notes - 4.00%, due June 15, 2024 399,769 - 399,769 - Senior secured revolving credit facility, variable rate, due December 10, 2024 95,000 - 95,000 - Settlement payable 378,718 - 378,718 - Derivative liability, net 16,786 - 16,786 - Total $ 5,606,424 $ - $ 5,606,424 $ - (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, 2020 Liabilities Senior secured notes - 6.00%, due April 15, 2023 $ 561,000 $ - $ 561,000 $ - Senior secured notes - 7.875%, due February 15, 2025 2,410,313 - 2,410,313 - Senior unsecured notes - 8.25%, due October 15, 2023 1,112,775 - 1,112,775 - Senior unsecured notes - 7.125%, due December 15, 2024 601,500 - 601,500 - Exchangeable senior unsecured notes - 4.00%, due June 15, 2024 426,058 - 426,058 - Senior secured revolving credit facility, variable rate, due April 24, 2022 110,000 - 110,000 - Settlement payable 418,840 - 418,840 - Derivative liability, net 22,897 - 22,897 - Contingent consideration 2,957 - - 2,957 Total $ 5,666,340 $ - $ 5,663,383 $ 2,957 The carrying value of cash and cash equivalents, accounts and other receivables, and accounts, interest and dividends payable approximate fair values due to the short-term nature of these financial instruments. The total principal balance of our outstanding notes and other debt was $4.97 billion at June 30, 2021, with a fair value of $5.21 billion. The estimated fair value of our outstanding notes and other debt was based on available external pricing data and current market rates for similar debt instruments, among other factors, which are classified as Level 2 inputs within the fair value hierarchy. Derivative assets and liabilities are carried at fair value. See Note 9 Given the limited trade activity of the Exchangeable Notes, the fair value of the Exchangeable Notes ( see Note 11 ) is determined based on inputs that are observable in the market and have been classified as Level 2 in the fair value hierarchy. Specifically, we estimated the fair value of the Exchangeable Notes based on readily available external pricing information, quoted market prices, and current market rates for similar convertible debt instruments. Uniti is required to make $490.1 million of cash payments to Windstream in equal installments over 20 consecutive quarters beginning the first month after Windstream’s emergence (the “Settlement Payable”). See Note 14 . The Settlement Payable is recorded at fair value, using the present value of future cash flows. The future cash flows are discounted using discount rate input based on observable market data. Accordingly, we classify inputs used as Level 2 in the fair value hierarchy. The remaining fair value of the Settlement Payable is $378.7 million and is reported on our Condensed Consolidated Balance Sheet at June 30, 2021. There have been no changes in the valuation methodologies used since the initial recording. We acquired Tower Cloud, Inc. (“Tower Cloud”) on August 31, 2016. As part of the Tower Cloud acquisition, we were obligated to pay contingent consideration upon achievement of certain defined operational and financial milestones from the date of acquisition through December 31, 2021. During the three months ended March 31, 2021, the Company paid $3.0 million for the achievement of the final remaining milestone in accordance with the Tower Cloud merger agreement. During the six months ended June 30, 20 20 Changes in the fair value of contingent consideration arrangements are recorded in our Condensed Consolidated Statements of Income (Loss) in the period in which the change occurs. The final measurement of the contingent consideration was recorded during the three months ended March 31, 2021, resulting in an increase in the fair value of less than $0.1 million. For the three and six months ended June 30, 2020, there was a 4.6 The following is a roll forward of our liabilities measured at fair value on a recurring basis using unobservable inputs (Level 3): (Thousands) December 31, 2020 Transfers into Level 3 (Gain)/Loss included in earnings Settlements June 30, 2021 Contingent consideration $ 2,957 $ - $ 22 $ (2,979 ) $ -

Property, Plant and Equipment

Property, Plant and Equipment	6 Months Ended
	Jun. 30, 2021
Property Plant And Equipment [Abstract]
Property, Plant and Equipment	Note 8. Property, Plant and Equipment The carrying value of property, plant and equipment is as follows: (Thousands) Depreciable Lives June 30, 2021 December 31, 2020 Land Indefinite $ 27,936 $ 27,945 Building and improvements 3 - 40 years 358,570 351,305 Poles 30 years 273,934 266,758 Fiber 30 years 3,875,028 3,737,372 Equipment 5 - 7 years 314,256 298,912 Copper 20 years 3,902,265 3,850,987 Conduit 30 years 89,960 89,773 Tower assets 20 years 8,544 8,571 Finance lease assets (1 ) 71,444 74,103 Other assets 15 - 20 years 10,644 10,553 Corporate assets 3 - 7 years 13,829 13,475 Construction in progress (1 ) 85,562 47,086 9,031,972 8,776,840 Less accumulated depreciation (5,631,217 ) (5,503,487 ) Net property, plant and equipment $ 3,400,755 $ 3,273,353 (1) See our Annual Report for property, plant and equipment accounting policies. Depreciation expense for the three and six months ended June 30, 2021 months ended June 30, 2020

Derivative Instruments and Hedg

Derivative Instruments and Hedging Activities	6 Months Ended
	Jun. 30, 2021
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Derivative Instruments and Hedging Activities	Note 9. 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 were designated as cash flow hedges and have a notional value of $2.01 As result of the repayment of the Company’s senior secured term loan B facility in February 2020, the Company entered into receive-fixed interest rate swaps to offset its existing pay-fixed interest rate swaps. As a result, the Company discontinued hedge accounting as the hedge accounting requirements were no longer met. Amounts in accumulated other comprehensive (loss) income as of the date of de-designation, will be reclassified to interest expense as the hedged transactions impact earnings. Prospectively, changes in fair value of all interest rate swaps will be recorded directly to earnings. The Company has elected to offset derivative positions that are subject to master netting arrangements with the same counterparty in our Condensed Consolidated Balance Sheets. The following tables present the gross amounts of our derivative instruments subject to master netting arrangements with the same counterparty as of June 30, 2021 and December 31, 2020: Offsetting of Derivative Assets and Liabilities (Thousands) Gross Amounts of Recognized Assets or Liabilities Gross Amounts Offset in the Condensed Consolidated Balance Sheets Net Amounts of Assets or Liabilities presented in the Condensed Consolidated Balance Sheets At June 30, 2021 Assets Interest rate swaps $ 19,965 $ (19,965 ) $ - Total $ 19,965 $ (19,965 ) $ - Liabilities Interest rate swaps $ 36,751 $ (19,965 ) $ 16,786 Total $ 36,751 $ (19,965 ) $ 16,786 Offsetting of Derivative Assets and Liabilities (Thousands) Gross Amounts of Recognized Assets or Liabilities Gross Amounts Offset in the Condensed Consolidated Balance Sheets Net Amounts of Assets or Liabilities presented in the Condensed Consolidated Balance Sheets At December 31, 2020 Assets Interest rate swaps $ 27,869 $ (27,869 ) $ - Total $ 27,869 $ (27,869 ) $ - Liabilities Interest rate swaps $ 50,766 $ (27,869 ) $ 22,897 Total $ 50,766 $ (27,869 ) $ 22,897 The following table summarizes the fair value and the presentation in our Condensed Consolidated Balance Sheets: (Thousands) Location on Condensed Consolidated Balance Sheets June 30, 2021 December 31, 2020 Interest rate swaps Derivative liability, net $ 16,786 $ 22,897 As of June 30, 2021, all of the interest rate swaps were valued in net unrealized loss positions and recognized as liability balances within the derivative liability, net in our Condensed Consolidated Balance Sheets The amount reclassified out of other comprehensive income into interest expense on our Condensed Consolidated Statements of Loss for the three and six months ended June 30, 2021 was $2.8 million and $5.7 million, respectively. The amount reclassified out of other comprehensive income into interest expense on our Condensed Consolidated Statements of Loss for the three and six months ended June 30, 2020 was $2.8 million and $5.2 million, respectively. During the next twelve months, beginning July 1, 2021, we estimate that $11.3 million will be reclassified as an increase to interest expense. Exchangeable Notes Hedge Transactions On June 25, 2019, concurrently with the pricing of the Exchangeable Notes ( see Note 11 ), and on June 27, 2019, concurrently with the exercise by the initial purchasers involved in the offering of the Exchangeable Notes (the “Initial Purchasers”) exchangeable note hedge transactions with respect to the Company’s common stock ( of the Initial Purchasers or their respective affiliates (collectively, the “Counterparties”) The Note Hedge Transactions are separate transactions, entered into by Uniti Fiber with the Counterparties, and are not part of the terms of the Exchangeable Notes. Holders of the Exchangeable Notes will not have any rights with respect to the Note Hedge Transactions. The Note Hedge Transactions meet certain accounting criteria under GAAP, are recorded in additional paid-in capital on our Condensed Consolidated Balance Sheets and are not accounted for as derivatives that are remeasured each reporting period. Warrant Transactions On June 25, 2019, concurrently with the pricing of the Exchangeable Notes, and on June 27, 2019 concurrently with the exercise by the Initial Purchasers of their option to purchase additional Exchangeable Notes, the Company entered into warrant transactions to sell to the Counterparties Warrants (the “Warrants”) to acquire, subject to anti-dilution adjustments, up to approximately 27.8 million shares of the Company’s common stock in the aggregate at an exercise price of approximately $16.42 per share. The maximum number of shares of the Company’s common stock that could be issued pursuant to the Warrants is approximately 55.5 million. The Company offered and sold the Warrants in reliance on the exemption from registration provided by Section 4(a)(2) of the Securities Act of 1933, as amended. If the market value per share of the Company’s common stock, as measured under the Warrants, at the time of exercise exceeds the strike price of the Warrants, the Warrants will have a dilutive effect on the Company’s common stock unless, subject to the terms of the Warrants, the Company elects to cash settle the Warrants. The Warrants will expire over a period beginning in September 2024. The Warrants are separate transactions, entered into by the Company with the Counterparties, and are not part of the terms of the Exchangeable Notes. Holders of the Exchangeable Notes will not have any rights with respect to the Warrants. The Warrants meet certain accounting criteria under GAAP, are recorded in additional paid-in capital on our Condensed Consolidated Balance Sheets and are not accounted for as derivatives that are remeasured each reporting period.

Goodwill and Intangible Assets

Goodwill and Intangible Assets and Liabilities	6 Months Ended
	Jun. 30, 2021
Goodwill And Intangible Assets And Liabilities Disclosure [Abstract]
Goodwill and Intangible Assets and Liabilities	Note 10. Goodwill and Intangible Assets and Liabilities There were no changes in the carrying amount of goodwill occurring during the three and six months ended June 30, 2021. (Thousands) Fiber Infrastructure Total Goodwill at December 31, 2020 $ 601,878 $ 601,878 Goodwill at June 30, 2021 601,878 601,878 (Thousands) June 30, 2021 December 31, 2020 Original Cost Accumulated Amortization Original Cost Accumulated Amortization Finite life intangible assets: Customer lists $ 416,104 $ (94,426 ) $ 416,104 $ (82,989 ) Contracts 52,536 (4,925 ) 48,269 (1,068 ) Underlying Rights 10,497 (262 ) 10,497 (87 ) Total intangible assets $ 479,137 $ 474,870 Less: accumulated amortization (99,613 ) (84,145 ) Total intangible assets, net $ 379,524 $ 390,725 Finite life intangible liabilities: Below-market leases $ 191,154 (8,021 ) $ 190,086 (2,200 ) Finite life intangible liabilities: Below-market leases $ 191,154 $ 190,086 Less: accumulated amortization (8,021 ) (2,200 ) Total intangible liabilities, net $ 183,133 $ 187,886 As of June 30, 2021, the remaining weighted average amortization period of the Company’s intangible assets and liabilities was 15.3 months ended June 30, 2021 w months ended June 30, 2020 w Amortization expense is estimated to be $ 19.1

Notes and Other Debt

Notes and Other Debt	6 Months Ended
	Jun. 30, 2021
Long Term Debt [Abstract]
Notes and Other Debt	Note 11. Notes and Other Debt All debt, including the senior secured credit facility and notes described below, are obligations of the Operating Partnership and/or certain of its subsidiaries as discussed below. The Company is, however, a guarantor of such debt. Notes and other debt are as follows: (Thousands) June 30, 2021 December 31, 2020 Principal amount $ 4,970,000 $ 4,965,000 Less unamortized discount, premium and debt issuance costs (85,590 ) (148,476 ) Notes and other debt less unamortized discount, premium and debt issuance costs $ 4,884,410 $ 4,816,524 Notes and other debt at June 30, 2021 and December 31, 2020 consisted of the following: June 30, 2021 December 31, 2020 (Thousands) Principal Unamortized Discount, Premium and Debt Issuance Costs Principal Unamortized Discount, Premium and Debt Issuance Costs Senior secured notes - 6.00%, due April 15, 2023 (discount is based on imputed interest rate of 6.49%) $ - $ - $ 550,000 $ (4,053 ) Senior secured notes - 7.875%, due February 15, 2025 (discount is based on imputed interest rate of 8.38%) 2,250,000 (35,730 ) 2,250,000 (39,852 ) Senior secured notes - 4.75%, due April 15, 2028 (discount is based on imputed interest rate of 5.04%) 570,000 (9,479 ) - - Senior unsecured notes - 8.25%, due October 15, 2023 (discount is based on imputed interest rate of 9.06%) - - 1,110,000 (22,024 ) Senior unsecured notes - 4.00%, due June 15, 2024 (discount is based on imputed interest rate of 4.77%) 345,000 (7,359 ) 345,000 (69,608 ) Senior unsecured notes - 7.125% due December 15, 2024 (discount is based on imputed interest rate of 7.38%) 600,000 (4,794 ) 600,000 (5,316 ) Senior unsecured notes - 6.50%, due February 15, 2029 (discount is based on imputed interest rate of 6.83%) 1,110,000 (21,668 ) - - Senior secured revolving credit facility, variable rate, due December 10, 2024 95,000 (6,560 ) 110,000 (7,623 ) Total $ 4,970,000 $ (85,590 ) $ 4,965,000 $ (148,476 ) At June 30, 2021, notes and other debt included the following: (i) $95.0 million under the Revolving Credit Facility (as defined below) pursuant to the credit agreement by and among Uniti Group LP, Uniti Group Finance 2019 Inc. and CSL Capital, LLC (the “Borrowers”), the guarantors and lenders party thereto and Bank of America, N.A., as administrative agent and collateral agent (the “Credit Agreement”); (ii) $2.25 billion aggregate principal amount of 7.875% senior secured notes due 2025 (the “2025 Secured Notes”); (iii) $570.0 million aggregate principal amount of 4.75% Senior Secured Notes due 2028 (the “2028 Secured Notes”); (iv) $600.0 million aggregate principal amount of 7.125% Senior Unsecured Notes due December 15, 2024 (the “2024 Notes”); (v) $1.11 billion aggregate principal amount of 6.50% Senior Notes due February 15, 2029 (the “2029 Notes”); and (vi) $345.0 million aggregate principal amount of 4.00% Exchangeable Senior Notes due June 15, 2024 (the “Exchangeable Notes” and, collectively with the 2025 Secured Notes, 2028 Notes, 2024 Notes and 2029 Notes, the Notes). U ntil our net leverage ratio is below 5.75 : 1.00, o limit our ability to make cash distributions to our shareholders in amounts exceeding 90% of our good faith estimate, as of the date on which the first quarterly dividend for the relevant year is declared, of our REIT taxable income for such year, determined without regard to the dividends paid deduction and excluding any capital gains. On February 2, 2021, the Borrowers, as co-issuers, to fund the tender offer of substantially all outstanding $1.11 billion aggregate principal amount of 8.25% Senior Unsecured Notes due October 15, 2023 (the “2023 Notes”), of which $58.8 million remained outstanding as of March 31, 2021. On April 15, 2021, the Borrowers redeemed the $58.8 million remaining outstanding principal amount of the 2023 Notes. During the three months ended March 31, 2021, we recognized a $38.0 million loss on the tendered 2023 Notes within interest expense, net on the Condensed Consolidated States of Income (loss), which included $20.4 million of non-cash interest expense for the write off of the unamortized discount and deferred financing costs and $17.6 million of cash interest expense for the tender premium. The remaining unamortized discount and deferred financing costs of $1.1 million was written off on April 15, 2021 when the outstanding principal amount was repaid. The 2029 Notes were issued at an issue price of 100% of their principal amount pursuant to an indenture, dated as of February 2, 2021 (the “2029 Indenture”), among the Borrowers, the guarantors named therein and Deutsche Bank Trust Company Americas, as trustee. The 2029 Notes mature on February 15, 2029 and bear interest at a rate of 6.50 % per year. Interest on the 2029 Notes is payable on February 15 and August 15 of each year, beginning on August 15, 2021. The Borrowers may redeem the 2029 Notes, in whole or in part, at any time prior to February 15, 2024 at a redemption price equal to 100% of the principal amount of the 2029 Notes redeemed plus accrued and unpaid interest on the 2029 Notes, if any, to, but not including the redemption date, plus an applicable “make whole” premium described in the 2029 Indenture. Thereafter, the Borrowers may redeem the 2029 Notes in whole or in part, at the redemption prices set forth in the 2029 Indenture. In addition, at any time on or prior to February 15, 2024, up to 40% of the aggregate principal amount of the 2029 Notes may be redeemed with the net cash proceeds of certain equity offerings, at a redemption price of 106.500% of the principal amount, plus accrued and unpaid interest, if any, to, but excluding, the redemption date; provided that at least 60% of aggregate principal amount of the originally issued 2029 Notes remains outstanding. Further, if certain changes of control of Uniti Group LP occur, holders of the 2029 Notes will have the right to require the Borrowers to offer to repurchase their 2029 Notes at 101% of their principal amount plus accrued and unpaid interest, if any, to, but excluding, the repurchase date. The 2029 Notes are fully and unconditionally guaranteed, jointly and severally, on a senior unsecured basis by the Company and by each of Uniti Group LP’s existing and future domestic restricted subsidiaries (other than the Borrowers) that guarantees indebtedness under the Company’s senior secured credit facilities. The guarantees are subject to release under specified circumstances, including certain circumstances in which such guarantees may be automatically released without the consent of the holders of the 2029 Notes. The 2029 Indenture contains customary high yield covenants limiting the ability of Uniti Group LP and its restricted subsidiaries to: incur or guarantee additional indebtedness; incur or guarantee secured indebtedness; pay dividends or distributions on, or redeem or repurchase, capital stock; make certain investments or other restricted payments; sell assets; enter into transactions with affiliates; merge or consolidate or sell all or substantially all of their assets; and create restrictions on the ability of the Borrowers and their restricted subsidiaries to pay dividends or other amounts to the Borrowers. These covenants are subject to a number of limitations, qualifications and exceptions. The 2029 Indenture also contains customary events of default. On April 20, 2021, the Borrowers issued $570 million aggregate principal amount of 4.750% Senior Secured Notes due 2028 and used the net proceeds from the offering to fund the redemption in full of the $550.0 million aggregate principal amount of 6.00% Senior Secured Notes due April 15, 2023 (the “2023 Secured Notes”) on May 6, 2021. On April 20, 2021, the Borrowers deposited amounts sufficient to fund the redemption of the 2023 Secured Notes with the trustee and satisfied and discharged their respective obligations under the indenture governing the 2023 Secured Notes. During the three months ended June 30, 2021, we recognized a $4.3 million loss on the extinguishment of the 2023 Secured Notes within interest expense, net on the Condensed Consolidated States of Income (loss), which included $1.3 million of non-cash interest expense for the write off of the unamortized discount and deferred financing costs and $3.0 million of cash interest expense for the redemption premium. The 2028 Secured Notes were issued at an issue price of 100% of their principal amount pursuant to an Indenture, dated as of April 20, 2021 (the “2028 Indenture”), among the Borrowers, the guarantors named therein and Deutsche Bank Trust Company Americas, as trustee and as collateral agent. The 2028 Secured Notes mature on April 15, 2028 and bear interest at a rate of 4.750% per year. Interest on the 2028 Secured Notes is payable on April 15 and October 15 of each year, beginning on October 15, 2021. The Borrowers may redeem the 2028 Secured Notes, in whole or in part, at any time prior to April 15, 2024 at a redemption price equal to 100% of the principal amount of the 2028 Secured Notes redeemed plus accrued and unpaid interest on the 2028 Secured Notes, if any, to, but not including, the redemption date, plus an applicable “make whole” premium described in the 2028 Indenture. Thereafter, the Borrowers may redeem the 2028 Secured Notes in whole or in part, at the redemption prices set forth in the 2028 Indenture. In addition, prior to April 15, 2024, the Borrowers may redeem up to 10% of the aggregate principal amount of the 2028 Secured Notes in any twelve month period at a redemption price equal to 103% of the principal amount thereof plus accrued and unpaid interest thereon, if any, to, but not including, the applicable redemption date. Further, at any time on or prior to April 15, 2024, up to 40% of the aggregate principal amount of the 2028 Secured Notes may be redeemed with the net cash proceeds of certain equity offerings at a redemption price of 104.750% of the principal amount plus accrued and unpaid interest, if any, to, but not including, the applicable redemption date; provided that at least 60% of aggregate principal amount of the originally issued 2028 Secured Notes remains outstanding. If certain changes of control of Uniti Group LP occur, holders of the 2028 Secured Notes will have the right to require the Borrowers to offer to repurchase their Notes at 101% of their principal amount plus accrued and unpaid interest, if any, to, but not including, the repurchase date. The 2028 Secured Notes are fully and unconditionally guaranteed, jointly and severally, on a senior unsecured basis by the Company and on a senior secured basis by each of the Operating Partnership’s existing and future domestic restricted subsidiaries (other than the Borrowers) that guarantees indebtedness under the senior secured credit facilities (the “Guarantors”). In addition, the Borrowers will use commercially reasonable efforts to obtain necessary regulatory approval to allow certain non-guarantor subsidiaries of the Company to guarantee the 2028 Secured Notes, including by making filings to obtain such approval within 60 days of the issuance of the 2028 Secured Notes. The guarantees are subject to release under specified circumstances, including certain circumstances in which such guarantees may be automatically released without the consent of the holders of the 2028 Secured Notes. The 2028 Secured Notes and the related guarantees are the Borrowers’ and the Guarantors’ senior secured obligations and the Company’s senior unsecured obligations and rank equal in right of payment with all of the Borrowers’ and the Guarantors’ existing and future senior unsubordinated obligations; effectively senior to all unsecured indebtedness of the Borrowers and the Guarantors, including the Borrowers’ existing senior unsecured notes, to the extent of the value of the collateral securing the 2028 Secured Notes; effectively equal with all of the Borrowers’ and the Guarantors’ existing and future indebtedness that is secured by first-priority liens on the collateral (including indebtedness under the senior secured credit facilities and existing secured notes); senior in right of payment to any of the Borrowers’ and Guarantors’ future subordinated indebtedness; and structurally subordinated to all existing and future liabilities (including trade payables) of the Company’s subsidiaries (other than the Borrowers) that do not guarantee the 2028 Secured Notes. The 2028 Secured Notes and the related guarantees will also be effectively subordinated to any existing or future indebtedness that is secured by liens on assets that do not constitute a part of the collateral securing the 2028 Secured Notes to the extent of the value of such assets. The 2028 Secured Notes and the related guarantees will be secured by liens on substantially all of the assets of the Borrowers and the Guarantors, which assets also ratably secure obligations under the existing secured notes and senior secured credit facilities, in each case, subject to certain exceptions and permitted liens. The collateral will not include real property (below a specified threshold of value), but will include certain fixtures and other equipment as well as cash that we receive pursuant the Windstream Leases. The 2028 Indenture contains customary high yield covenants limiting the ability of Uniti Group LP and its restricted subsidiaries to: incur or guarantee additional indebtedness; incur or guarantee secured indebtedness; pay dividends or distributions on, or redeem or repurchase, capital stock; make certain investments or other restricted payments; sell assets; enter into transactions with affiliates; merge or consolidate or sell all or substantially all of their assets; and create restrictions on the ability of the Borrowers and their restricted subsidiaries to pay dividends or other amounts to the Borrowers. These covenants are subject to a number of limitations, qualifications and exceptions. The 2028 Indenture also contains customary events of default. Credit Agreement T he Borrowers are party to the Credit Agreement, which after the Seventh Amendment (as defined below), provided for a $60.5 million non-extended revolving credit facility that matures on April 24, 2022 (the “Non-Extended Revolving Credit Facility”) and a $500 million revolving credit facility extended that will mature on December 10, 2024 (the “Extended Revolving Credit Facility” and together with Non-Extended Revolving Credit facility, the “Revolving Credit Facility”), which provide us with the ability to obtain revolving loans as well as swingline loans and letters of credit from time to time. All obligations under the Credit Agreement are guaranteed by (i) the Company and (ii) certain of the Operating Partnership’s subsidiaries (the “Subsidiary Guarantors”) and are secured by substantially all of the assets of the Borrowers and the Subsidiary Guarantors. The Borrowers are subject to customary covenants under the Credit Agreement, including an obligation to maintain a consolidated secured leverage ratio, as defined in the Credit Agreement, not to exceed 5.00 to 1.00. We are permitted, subject to customary conditions, to incur other indebtedness, so long as, on a pro forma basis after giving effect to any such indebtedness, our consolidated total leverage ratio, as defined in the Credit Agreement, does not exceed 6.50 to 1.00 and, if such debt is secured, our consolidated secured leverage ratio, as defined in the Credit Agreement, does not exceed 4.00 to 1.00. In addition, the Credit Agreement contains customary events of default, including a cross default provision whereby the failure of the Borrowers or certain of their subsidiaries to make payments under other debt obligations, or the occurrence of certain events affecting those other borrowing arrangements, could trigger an obligation to repay any amounts outstanding under the Credit Agreement. In particular, a repayment obligation could be triggered if (i) the Borrowers or certain of their subsidiaries fail to make a payment when due of any principal or interest on any other indebtedness aggregating $75.0 million or more, or (ii) an event occurs that causes, or would permit the holders of any other indebtedness aggregating $75.0 million or more to cause, such indebtedness to become due prior to its stated maturity. As of June 30, 2021, the Borrowers were in compliance with all of the covenants under the Credit Agreement. A termination of either Windstream Lease would result in an “event of default” under the Credit Agreement if a replacement lease is not entered into within ninety (90) calendar days and we do not maintain pro forma compliance with a consolidated secured leverage ratio, as defined in the Credit Agreement, of 5.00 to 1.00. On December 10, 2020, we entered into an amendment (the “Seventh Amendment”) to our Credit Agreement. Pursuant to the Seventh Amendment, commitments from new and existing lenders under the Revolving Credit Facility have increased to $500 million and the maturity date of such commitments has been extended to December 10, 2024. Certain non-extending lender commitments of $60.5 million will mature on April 24, 2022 and will continue to bear interest at rates previously in effect. Prior to the expiration of these commitments, the aggregate size of the Revolving Credit Facility will be $560.5 million from all lenders. Borrowings under (a) the Non-Extended Revolving Credit Facility bear interest at a rate equal to either a base rate plus an applicable margin ranging from 3.75% to 4.25% or a eurodollar rate plus an applicable margin ranging from 4.75% to 5.25% and (b) effective April 17, 2021, following the receipt of certain routine regulatory approvals, the Extended Revolving Credit Facility bear interest at a rate equal to either a base rate plus an applicable margin ranging from 2.75% to 3.50% or a eurodollar rate plus an applicable margin ranging from 3.75% to 4.50%, in each case, calculated in a customary manner and determined based on our consolidated secured leverage ratio Deferred Financing Cost Deferred financing costs were incurred in connection with the issuance of the Notes and the Revolving Credit Facility. 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 Statements of Income (Loss) For the three and six months ended June 30, 2021, we recognized $4.1 million and $8.2 million, respectively, of non-cash interest expense related to the amortization of deferred financing costs. For the three and six months ended June 30, 2020, we recognized $4.5 million and $7.5 million, respectively, of non-cash interest expense related to the amortization of deferred financing costs.

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2021
Earnings Per Share [Abstract]
Earnings Per Share	Note 12. Earnings Per Share Our time-based restricted stock awards are considered participating securities as they receive non-forfeitable rights to dividends at the same rate as common stock. As participating securities, we included these instruments in the computation of earnings per share under the two-class method described in FASB ASC 260, Earnings per Share We also have outstanding performance-based restricted stock units that contain forfeitable rights to receive dividends. Therefore, the awards are considered non-participating restrictive shares and are not dilutive under the two-class method until performance conditions are met. The dilutive effect of the Exchangeable Notes ( see Note 11 ) is calculated by using the “if-converted” method. This assumes an add-back of interest, net of income taxes, to net income attributable to shareholders as if the securities were converted at the beginning of the reporting period (or at time of issuance, if later) and the resulting common shares included in number of weighted average shares. The dilutive effect of the Warrants ( see Note 9 ) is calculated using the treasury-stock method. During the three and six months ended June 30, 2021 and 2020 The following sets forth the computation of basic and diluted earnings per share under the two-class method: Three Months Ended June 30, Six Months Ended June 30, (Thousands, except per share data) 2021 2020 2021 2020 Basic earnings per share: Numerator: Net income (loss) attributable to shareholders $ 48,907 $ (587,744 ) $ 44,469 $ (666,597 ) Less: Income allocated to participating securities (333 ) (424 ) (581 ) (624 ) Dividends declared on convertible preferred stock (2 ) (1 ) (5 ) (4 ) Net income (loss) attributable to common shares $ 48,572 $ (588,169 ) $ 43,883 $ (667,225 ) Denominator: Basic weighted-average common shares outstanding 231,801 192,479 231,636 192,358 Basic earnings (loss) per common share $ 0.21 $ (3.06 ) $ 0.19 $ (3.47 ) Three Months Ended June 30, Six Months Ended June 30, (Thousands, except per share data) 2021 2020 2021 2020 Diluted earnings per share: Numerator: Net income (loss) attributable to shareholders $ 48,907 $ (587,744 ) $ 44,469 $ (666,597 ) Less: Income allocated to participating securities (333 ) (424 ) (581 ) (624 ) Dividends declared on convertible preferred stock (2 ) (1 ) (5 ) (4 ) Impact on if-converted dilutive securities 2,974 - - - Net income (loss) attributable to common shares $ 51,546 $ (588,169 ) $ 43,883 $ (667,225 ) Denominator: Basic weighted-average common shares outstanding 231,801 192,479 231,636 192,358 Effect of dilutive non-participating securities 135 - 226 - Impact on if-converted dilutive securities 30,332 - - - Weighted-average shares for dilutive earnings per common share 262,268 192,479 231,862 192,358 Dilutive earnings (loss) per common share $ 0.20 $ (3.06 ) $ 0.19 $ (3.47 ) For the six months ended June 30, 2021, 30,332,262 potential common shares related to the Exchangeable Notes were excluded from the computation of earnings per share, as their effect would have been anti-dilutive. For the three and six months ended June 30, 2020, 29,198,385 potential common shares related to the Exchangeable Notes and 730,863 non-participating securities were excluded from the computation of earnings per share, as their effect would have been anti-dilutive.

Segment Information

Segment Information	6 Months Ended
	Jun. 30, 2021
Segment Reporting [Abstract]
Segment Information	Note 13. Segment Information Historically our management, including our chief executive officer, who is our chief operating decision maker, managed our operations as the four reportable segments, in addition to our corporate operations, as described below. Due to the sale of our towers business and wind down of the Consumer CLEC business, effective January 1, 2021, we manage our operations focused on our two primary businesses, Leasing and Fiber Infrastructure. Leasing : Represents the results from our leasing business, Uniti Leasing, which is engaged in the acquisition of mission-critical communications assets and leasing them back to anchor customers on either an exclusive or shared-tenant basis. Fiber Infrastructure : Represents the operations of our fiber business, Uniti Fiber, which is a leading provider of infrastructure solutions, including cell site backhaul and dark fiber, to the telecommunications industry. Towers : Represents the operations of our former towers business, Uniti Towers, through which we acquired and constructed tower and tower-related real estate and leased space on communications towers to wireless service providers and other tenants in the United States and Latin America . Starting in 2019, the Company completed a series of transactions to largely divest of its towers business: on April 2, 2019, May 23, 2019 and June 1, 2020, the Company completed the sales of its Latin American business, substantially all of its U.S. ground lease business, and its U.S. tower business, respectively. Consumer CLEC : Represents the operations of Talk America through which we operated the Consumer CLEC business, which prior to Uniti’s separation and spin-off from Windstream (the “Spin-Off”) was reported as an integrated operation within Windstream. Talk America provided local telephone, high-speed internet and long-distance services to customers in the eastern and central United States. As of the end of the second quarter of 2020, we substantially completed a wind down of our Consumer CLEC business. Corporate Represents our corporate and back office functions. Certain costs and expenses, primarily related to headcount, insurance, professional fees and similar charges, that are directly attributable to operations of our business segments are allocated to the respective segments. Management evaluates the performance of each segment using Adjusted EBITDA, which is a segment performance measure we define as net income determined in accordance with GAAP, before interest expense, provision for income taxes, depreciation and amortization, stock-based compensation expense and the impact, which may be recurring in nature, of transaction and integration related costs, costs associated with Windstream’s bankruptcy, costs associated with litigation claims made against us, costs associated with the implementation of our enterprise resource planning system, costs related to the settlement with Windstream, amortization of non-cash rights-of-use, the write off of unamortized deferred financing costs, costs incurred as a result of the early repayment of debt, including early tender premiums and costs associated with the termination of related hedging activities, gains or losses on dispositions, changes in the fair value of contingent consideration and financial instruments, and other similar or infrequent items (although we may not have had such charges in the periods presented). Adjusted EBITDA includes adjustments to reflect the Company’s share of Adjusted EBITDA from unconsolidated entities. The Company believes that net income, as defined by GAAP, is the most appropriate earnings metric; however, we believe that Adjusted EBITDA serves as a useful supplement to net income because it allows investors, analysts and management to evaluate the performance of our segments in a manner that is comparable period over period. Adjusted EBITDA should not be considered as an alternative to net income as determined in accordance with GAAP Selected financial data related to our segments is presented below for the three and six months ended June 30, 2021 and 2020 Three Months Ended June 30, 2021 (Thousands) Leasing Fiber Infrastructure Towers Consumer CLEC Corporate Subtotal of Reportable Segments Revenues $ 196,057 $ 72,123 $ - $ - $ - $ 268,180 Adjusted EBITDA $ 192,137 $ 29,439 $ - $ - $ (5,842 ) $ 215,734 Less: Interest expense 106,388 Depreciation and amortization 40,474 29,132 - - 65 69,671 Other expense, net 8,779 Transaction related and other costs 424 Gain on sale of real estate (442 ) Gain on sale of operations (28,143 ) Stock-based compensation 3,462 Income tax expense 5,084 Adjustments for equity in earnings from unconsolidated entities 872 Net income $ 49,639 Three Months Ended June 30, 2020 (Thousands) Leasing Fiber Infrastructure Towers Consumer CLEC Corporate Subtotal of Reportable Segments Revenues $ 185,320 $ 79,140 $ 2,392 (32 ) $ - $ 266,820 Adjusted EBITDA $ 182,810 $ 28,493 $ 85 $ (292 ) $ (8,227 ) $ 202,869 Less: Interest expense 107,243 Depreciation and amortization 52,405 32,279 14 197 74 84,969 Other expense, net 6,013 Settlement expense 650,000 Transaction related and other costs 18,556 Gain on sale of real estate (63,818 ) Stock-based compensation 4,110 Income tax benefit (5,875 ) Net loss $ (598,329 ) Six Months Ended June 30, 2021 (Thousands) Leasing Fiber Infrastructure Towers Consumer CLEC Corporate Subtotal of Reportable Segments Revenues $ 390,993 $ 149,773 $ - $ - $ - $ 540,766 Adjusted EBITDA $ 383,634 $ 59,160 $ - $ - $ (12,812 ) $ 429,982 Less: Interest expense 246,969 Depreciation and amortization 82,700 57,802 - - 133 140,635 Other income, net 10,097 Transaction related and other costs 4,561 Gain on sale of real estate (442 ) Gain on sale of operations (28,143 ) Stock-based compensation 6,797 Income tax expense 2,527 Adjustments for equity in earnings from unconsolidated entities 1,844 Net income $ 45,137 Six Months Ended June 30, 2020 (Thousands) Leasing Fiber Infrastructure Towers Consumer CLEC Corporate Subtotal of Reportable Segments Revenues $ 369,672 $ 156,547 $ 6,112 $ 651 $ - $ 532,982 Adjusted EBITDA $ 364,689 $ 56,034 $ 77 $ (275 ) $ (15,942 ) $ 404,583 Less: Interest expense 285,636 Depreciation and amortization 107,027 62,340 783 791 149 171,090 Other income, net 9,088 Settlement expense 650,000 Transaction related and other costs 34,528 Gain on sale of real estate (63,818 ) Stock-based compensation 7,105 Income tax benefit (10,451 ) Net loss $ (678,595 )

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2021
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 14. Commitments and Contingencies In the ordinary course of our business, we are subject to claims and administrative proceedings, none of which we believe are material or would be expected to have, individually or in the aggregate, a material adverse effect on our business, financial condition, cash flows or results of operations. Windstream Commitments Following the consummation of our settlement agreement with Windstream, including entry into the Windstream Leases, we are obligated to make $490.1 million of cash payments to Windstream in equal installments over 20 consecutive quarters beginning in October 2020. As of the date of this Quarterly Report on Form 10-Q, the Company made the first four quarterly payments totaling $98.0 million Further, we are obligated to reimburse Windstream for up to an aggregate of $1.75 billion for certain growth capital improvements in long-term fiber and related assets made by Windstream (“Growth Capital Improvements”) through 2029. Uniti’s reimbursement commitment for Growth Capital Improvements does not require Uniti to reimburse Windstream for maintenance or repair expenditures (except for costs incurred for fiber replacements to the property leased under the master lease agreement, up to $70 million during the term), and each such reimbursement is subject to underwriting standards. Uniti’s total annual reimbursement commitments for the Growth Capital Improvements under both Windstream Leases (and under separate equipment loan facilities) are limited to $225 million per year in 2021 through 2024; $175 million per year in 2025 and 2026; and $125 million per year in 2027 through 2029. If the cost incurred by Windstream (or the successor tenant under a Windstream Lease) for Growth Capital Improvements in any calendar year exceeds the annual limit for such calendar year, Windstream (or such tenant, as the case may be) may submit such excess costs for reimbursement in any subsequent year and such excess costs shall be funded from the annual commitment amounts in such subsequent period. In addition, to the extent that reimbursements for Growth Capital Improvements funded in any calendar year during the term is less than the annual limit for such calendar year, the unfunded amount in any calendar year will carry-over and may be added to the annual limits for subsequent calendar years, subject to an annual limit of $250 million in any calendar year, except that, during calendar year 2021, our combined total obligation to fund Growth Capital Improvements may exceed $250 million to the extent of any unfunded excess amounts from calendar year 2020. Accordingly, because we funded $84.7 million of the $125 million limit in 2020, we are committed to fund up to $265.3 million of Growth Capital Improvements in 2021. During the six months ended June 30, 2021, Uniti reimbursed $92.1 million of Growth Capital Improvements, of which $28.5 million, as allowed under the Settlement, represented the reimbursement of capital improvements completed in 2020 that were previously classified as tenant funded capital improvements. Upon reimbursement, the Company reduced the unamortized portion of deferred revenue related to these capital improvements and capitalized the difference between the cash provided to Windstream and the unamortized deferred revenue as a lease incentive. This lease incentive, which is $0.9 million and reported within other assets on our Condensed Consolidated Balance Sheet as of June 30, 2021, will be amortized against revenue over the initial term of the Windstream Leases. Other Litigation On July 3, 2019, SLF Holdings, LLC (“SLF”) filed a complaint against the Company, Uniti Fiber, and certain current and former officers of the Company (collectively, the “Defendants”) in the United States District Court for the Southern District of Alabama, in connection with Uniti Fiber’s purchase of Southern Light, LLC from SLF in July 2017. The complaint asserted claims for fraud and conspiracy, as well as claims under federal and Alabama securities laws, alleging that Defendants improperly failed to disclose to SLF the risk that the Spin-Off and entry into the Master Lease violated certain debt covenants of Windstream. On September 26, 2019, the action was transferred to United States District Court for the District of Delaware. On November 18, 2019, SLF filed an amended complaint, adding allegations that Defendants also failed to fully disclose the risk that the Master Lease purportedly could be recharacterized as a financing instead of a “true lease.” The amended complaint seeks compensatory and punitive damages, as well as reformation of the purchase agreement for the sale. On December 18, 2019, Defendants moved to dismiss the amended complaint in its entirety. That motion was fully briefed as of February 7, 2020, and a hearing on the motion was heard on May 12, 2020. On November 4, 2020, the court granted the Defendants’ motion and dismissed SLF’s amended complaint, in its entirety, with prejudice. On December 1, 2020, SLF filed a notice of appeal to the United States Court of Appeals for the Third Circuit from the district court’s dismissal order. The appeal is scheduled to be fully briefed by August 19, 2021. We have evaluated this matter under the guidance provided by ASC 450-20, Contingencies (“ASC 450”), and as of the date of this Quarterly Report on Form 10-Q, we consider a loss not to be probable and are unable to estimate a reasonably possible range of loss; therefore, we have not recorded any liabilities associated with these claims in our Condensed Consolidated Balance Sheet. Beginning on October 25, 2019, several purported shareholders filed separate putative class actions in the U.S. District Court for the Eastern District of Arkansas against the Company and certain of our officers, alleging violations of the federal securities laws (the “Shareholder Actions”), based on claims similar to those asserted in the SLF Action. On March 12, 2020, the U.S. District Court for the Eastern District of Arkansas consolidated the Shareholder Actions and appointed lead plaintiffs and lead counsel in the consolidated cases under the caption In re Uniti Group Inc. Securities Litigation. On May 11, 2020, lead plaintiffs filed a consolidated amended complaint in the consolidated Shareholder Actions. The consolidated amended complaint seeks to represent investors who acquired the Company’s securities between April 20, 2015 and February 15, 2019. The Shareholder Actions assert claims under Sections 10(b) and 20(a) of the Exchange Act and Rule 10b-5 promulgated thereunder, alleging that the Company made materially false and misleading statements by allegedly failing to disclose, among other things, the risk that the Spin-Off and entry into the Master Lease violated certain debt covenants of Windstream and/or the risk that the Master Lease purportedly could be recharacterized as a financing instead of a “true lease.” The Shareholder Actions seek class certification, unspecified monetary damages, costs and attorneys’ fees and other relief. On July 10, 2020, defendants moved to dismiss the consolidated amended complaint. On April 1, 2021, the court issued an order denying defendants’ motion to dismiss. On April 15, 2021, defendants filed a motion for reconsideration of the order or, in the alternative, for certification of an appeal of the decision to the Eighth Circuit. Plaintiffs formally opposed this motion on April 29, 2021. The District Court has not yet ruled on the motion. We intend to defend this matter vigorously, and, because it is still in its preliminary stages, we have not yet determined what effect this lawsuit will have, if any, on our financial position or results of operations. We have evaluated this matter under the guidance provided by ASC 450, and as of the date of this Quarterly Report on Form 10-Q, we consider a loss not to be probable and are unable to estimate a reasonably possible range of loss; therefore, we have not recorded any liabilities associated with these claims in our Condensed Consolidated Balance Sheet. We maintain insurance policies that would provide coverage to various degrees for potential liabilities arising from the legal proceedings described above. Under t he terms of the tax matters agreement entered into on April 24, 2015 by the Company, Windstream Services, LLC and Windstream (the “Tax Matters Agreement”), in connection with the Spin-Off, 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 Code, as applicable, to the extent such failure to qualify is attributable to certain actions, events or transactions relating to our stock, indebtedness, assets or business, or a breach of the relevant representations or any covenants made by us in the Tax Matters Agreement, the materials submitted to the IRS in connection with the request for the private letter ruling or the representations provided in connection with the tax opinion. We believe that the probability of us incurring obligations under the Tax Matters Agreement are remote; and therefore, we

Accumulated Other Comprehensive

Accumulated Other Comprehensive (Loss) Income	6 Months Ended
	Jun. 30, 2021
Accumulated Other Comprehensive Income Loss Net Of Tax [Abstract]
Accumulated Other Comprehensive (Loss) Income	Note 15. Accumulated Other Comprehensive (Loss) Income Changes in accumulated other comprehensive (loss) income by component is as follows for the three and six months ended June 30, 2021 and 2020: Three Months Ended June 30, Six Months Ended June 30, (Thousands) 2021 2020 2021 2020 Cash flow hedge changes in fair value (loss) gain: Balance at beginning of period attributable to common shareholders $ (30,353 ) $ (30,353 ) $ (30,353 ) $ (23,442 ) Other comprehensive loss before reclassifications - - - (7,713 ) Amounts reclassified from accumulated other comprehensive income - - - 677 Balance at end of period (30,353 ) (30,353 ) (30,353 ) (30,478 ) Less: Other comprehensive loss attributable to noncontrolling interest - - - (125 ) Balance at end of period attributable to common shareholders (30,353 ) (30,353 ) (30,353 ) (30,353 ) Interest rate swap termination: Balance at beginning of period attributable to common shareholders 12,773 1,636 9,986 - Amounts reclassified from accumulated other comprehensive income 2,829 2,830 5,658 4,496 Balance at end of period 15,602 4,466 15,644 4,496 Less: Other comprehensive (loss) income attributable to noncontrolling interest 41 50 83 80 Balance at end of period attributable to common shareholders 15,561 4,416 15,561 4,416 Accumulated other comprehensive loss at end of period $ (14,792 ) $ (25,937 ) $ (14,792 ) $ (25,937 )

Basis of Presentation and Sum_2

Basis of Presentation and Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2021
Accounting Policies [Abstract]
Concentration of Credit Risks	Concentration of Credit Risks e were party to a long-term exclusive triple-net lease (the “Master Lease”) with Windstream Holdings, Inc. (together with Windstream Holdings II, LLC, its successor in interest, and its subsidiaries, “Windstream”) pursuant to which a substantial portion of our real property was leased to Windstream and from which a substantial portion of our leasing revenues were derived. On September 18, 2020, Uniti and Windstream bifurcated the Master Lease and entered into two structurally similar master leases (collectively, the “Windstream Leases”), which amended and restated the Master Lease in its entirety. Windstream Windstream Windstream Prior to its emergence from bankruptcy on September 21, 2020, Windstream was a publicly traded company subject to the periodic filing requirements of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). Windstream’s historic filings through their quarter ended June 30, 2020 can be found at www.sec.gov. Additionally, the Windstream audited financial statements as of December 31, 2020 and for the period from September 22, 2020 to December 31, 2020 and as of December 31, 2019 and for the period from January 1, 2020 to September 21, 2020 and for each of the two years in the period ended December 31, 2019 are included as an exhibit to our Annual Report. We monitor the credit quality of Windstream through numerous methods, including by (i) reviewing credit ratings of Windstream by nationally recognized credit agencies, (ii) reviewing the financial statements of Windstream that are required to be delivered to us pursuant to the Windstream Leases, (iii) monitoring news reports regarding Windstream and its business, (iv) conducting research to ascertain industry trends potentially affecting Windstream, (v) monitoring Windstream’s compliance with the terms of the Windstream Leases and (vi) monitoring the timeliness of its payments under the Windstream Leases. As of the date of this Quarterly Report on Form 10-Q, Windstream is current on all lease payments. We note that in August 2020, Moody’s Investor Service assigned a B3 corporate family rating with a stable outlook to Windstream in connection with its post-emergence exit financing. At the same time, S&P Global Ratings assigned Windstream a B- issuer rating with a stable outlook. In order to assist us in our continuing assessment of Windstream’s creditworthiness, we periodically receive certain confidential financial information and metrics from Windstream.
Recently Adopted Accounting Standards	Recently Adopted Accounting Pronouncements In August 2020, the FASB issued ASU 2020-06, Debt - Debt with Conversion and Other Options (Subtopic 470- 20) and Derivatives and Hedging - Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity In addition, entities must presume share settlement for purposes of calculating diluted EPS when an instrument may be settled in cash or shares. ASU 2020-06 is effective for fiscal years beginning after December 15, 2021, and interim periods within those fiscal years, with early adoption permitted. The Company elected to early adopt the guidance ASU 2020-06 as of January 1, 2021 using the modified retrospective transition method. As a result of early adopting ASU 2020-06, the Company made certain adjustments to its accounting for the outstanding exchangeable senior unsecured notes. The adoption of ASU 2020-06 resulted in the re-combination of the liability and equity components of these notes into a single liability instrument. The carrying value as of December 31, 2020, totaled approximately $275.4 million and as a result of the adoption increased by $61.1 million to $336.5 million as of January 1, 2021. Because of this adoption, the effective interest rate on the exchangeable senior unsecured notes went from 11.1% to 4.8%. Additional paid-in-capital was reduced by $59.9 million and deferred tax liabilities were reduced by $15.8 million. Approximately $14.6 million of cumulative effect of adoption was recognized to the opening balance of retained earnings as of January 1, 2021.

Revenues (Tables)

Revenues (Tables)	6 Months Ended
	Jun. 30, 2021
Segment Reporting [Abstract]
Revenues Disaggregated by Revenue Stream	The following table presents our revenues disaggregated by revenue stream. Three Months Ended June 30, Six Months Ended June 30, (Thousands) 2021 2020 2021 2020 Revenue disaggregated by revenue stream Revenue from contracts with customers Fiber Infrastructure Lit backhaul $ 22,979 $ 27,216 $ 48,023 $ 55,408 Enterprise and wholesale 21,327 19,628 42,327 38,886 E-Rate and government 15,926 21,821 35,290 42,758 Other 824 755 1,640 1,303 Fiber Infrastructure $ 61,056 $ 69,420 $ 127,280 $ 138,355 Consumer CLEC - (32 ) - 651 Leasing 1,000 - 2,167 - Total revenue from contracts with customers 62,056 69,388 129,447 139,006 Revenue accounted for under other applicable guidance 206,124 197,432 411,319 393,976 Total revenue $ 268,180 $ 266,820 $ 540,766 $ 532,982
Schedule of Contract Assets and Contract Liabilities	The following table provides information about contract assets and contract liabilities accounted for under Topic 606. (Thousands) Contract Assets Contract Liabilities Balance at December 31, 2020 $ 3,462 $ 18,601 Balance at June 30, 2021 $ 1,624 $ 13,970

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 30, 2021
Leases [Abstract]
Components of Lease Income	The components of lease income for the three and six months ended June 30, 2021 Three Months Ended June 30, Six Months Ended June 30, (Thousands) 2021 2020 2021 2020 Lease income - operating leases $ 206,124 $ 197,432 $ 411,319 $ 393,976
Lease Payments to be Received under Non-Cancellable Operating Leases	Lease payments to be received under non-cancellable operating leases where we are the lessor for the remainder of the lease terms as of June 30, 2021 are as follows: (Thousands) June 30, 2021 (1) 2021 $ 368,041 2022 751,516 2023 755,574 2024 757,431 2025 759,168 Thereafter 3,734,183 Total lease receivables $ 7,125,913 (1)
Schedule of Underlying Assets under Operating Leases	The underlying assets under operating leases where we are the lessor are summarized as follows: (Thousands) June 30, 2021 December 31, 2020 Land $ 26,596 $ 26,596 Building and improvements 340,096 335,495 Poles 273,934 266,758 Fiber 3,147,976 2,994,465 Equipment 428 421 Copper 3,902,265 3,850,988 Conduit 89,960 89,773 Tower assets 1,397 1,397 Finance lease assets 28,126 32,660 Other assets 10,643 10,425 7,821,421 7,608,978 Less: accumulated depreciation (5,319,033 ) (5,222,731 ) Underlying assets under operating leases, net $ 2,502,388 $ 2,386,247
Schedule of Lessor Depreciation Expense for Underlying Assets for Operating Leases	Depreciation expense for the underlying assets under operating leases where we are the lessor for the three and six months ended June 30, 2021 and 2020, respectively, is summarized as follows: Three Months Ended June 30, Six Months Ended June 30, (Thousands) 2021 2020 2021 2020 Depreciation expense for underlying assets under operating leases $ 44,107 $ 53,303 $ 90,020 $ 109,437
Components of Lease Cost	The components of lease cost for the three and six months ended June 30, 2021 and 2020 Three Months Ended June 30, Six Months Ended June 30, (Thousands) 2021 2020 2021 2020 Finance lease cost Amortization of ROU assets $ 1,335 $ 954 $ 2,697 $ 1,979 Interest on lease liabilities 717 969 1,627 1,957 Total finance lease cost 2,052 1,923 4,324 3,936 Operating lease cost 3,102 6,421 8,215 13,959 Short-term lease cost 748 526 1,440 1,009 Variable lease cost 109 66 296 84 Less sublease income (3,246 ) (3,076 ) (6,228 ) (6,770 ) Total lease cost $ 2,765 $ 5,860 $ 8,047 $ 12,218
Summary of Amounts Reported in Condensed Consolidated Balance Sheets for Leases	Amounts reported in the Condensed Consolidated Balance Sheets for leases where we are the lessee were as follows: (Thousands) Location on Condensed Consolidated Balance Sheets June 30, 2021 December 31, 2020 Operating leases ROU assets, net Other assets, net $ 73,620 $ 97,850 Lease liabilities Accounts payable, accrued expenses and other liabilities, net 49,909 71,483 Finance leases ROU asset, gross Property, plant and equipment, net $ 71,444 $ 128,098 Lease liabilities Finance lease obligations 14,497 48,724 Weighted-average remaining lease term Operating leases 8.8 years 12.2 years Finance leases 13.3 years 13.3 years Weighted-average discount rate Operating leases 9.5 % 9.9 % Finance leases 11.0 % 8.0 %
Schedule of Other Information Related to Leases	Other information related to leases as of June 30, 2021 and 2020 , respectively, (Thousands) 2021 2020 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from finance leases $ 1,627 $ 1,957 Operating cash flows from operating leases 10,381 14,470 Financing cash flows from finance leases 1,393 1,979 Non-cash items: New operating leases and remeasurements, net $ 1,722 $ 3,847 New finance leases - 31
Future Lease Payments Under Non-Cancellable Operating and Finance Leases	Future lease payments under non-cancellable leases as of June 30, 2021 (Thousands) Operating Leases Finance Leases 2021 $ 7,446 $ 1,164 2022 12,672 2,225 2023 10,484 2,174 2024 8,064 1,972 2025 5,439 1,911 Thereafter 31,892 15,440 Total undiscounted lease payments $ 75,997 $ 24,886 Less: imputed interest (26,088 ) (10,389 ) Total lease liabilities $ 49,909 $ 14,497
Future Sublease Rentals	Future sublease rentals as of June 30, 2021 are as follows: (Thousands) Sublease Rentals 2021 $ 4,458 2022 9,310 2023 9,377 2024 9,445 2025 9,513 Thereafter 136,177 Total $ 178,280

Asset Dispositions (Tables)

Asset Dispositions (Tables)	6 Months Ended
	Jun. 30, 2021
Discontinued Operations And Disposal Groups [Abstract]
Schedule of Assets and Liabilities Sold	(Thousands) June 30, 2021 Assets and liabilities sold: Assets: Property, plant and equipment, net $ 44,685 Goodwill 17,794 Intangible assets, net 7,264 Right of use assets, net 19,841 Total assets $ 89,584 Liabilities: Lease liabilities $ 18,779 Intangible liabilities, net 4,492 Finance lease obligations 32,343 Total liabilities $ 55,614 Cash consideration $ 62,113 Less: total assets and liabilities sold, net (33,970 ) Gain on sale of operations $ 28,143

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	6 Months Ended
	Jun. 30, 2021
Fair Value Disclosures [Abstract]
Schedule of Fair Value Valuation of Financial Instruments	The following table summarizes the fair value of our financial instruments at June 30, 2021 and December 31, 2020: (Thousands) Total Quoted Prices in Active Markets (Level 1) Prices with Other Observable Inputs (Level 2) Prices with Unobservable Inputs (Level 3) At June 30, 2021 Liabilities Senior secured notes - 7.875%, due February 15, 2025 $ 2,410,313 $ - $ 2,410,313 $ - Senior secured notes - 4.75%, due April 15, 2028 569,288 - 569,288 - Senior unsecured notes - 7.125%, due December 15, 2024 621,000 - 621,000 - Senior unsecured notes - 6.50%, due February 15, 2029 1,115,550 - 1,115,550 - Exchangeable senior notes - 4.00%, due June 15, 2024 399,769 - 399,769 - Senior secured revolving credit facility, variable rate, due December 10, 2024 95,000 - 95,000 - Settlement payable 378,718 - 378,718 - Derivative liability, net 16,786 - 16,786 - Total $ 5,606,424 $ - $ 5,606,424 $ - (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, 2020 Liabilities Senior secured notes - 6.00%, due April 15, 2023 $ 561,000 $ - $ 561,000 $ - Senior secured notes - 7.875%, due February 15, 2025 2,410,313 - 2,410,313 - Senior unsecured notes - 8.25%, due October 15, 2023 1,112,775 - 1,112,775 - Senior unsecured notes - 7.125%, due December 15, 2024 601,500 - 601,500 - Exchangeable senior unsecured notes - 4.00%, due June 15, 2024 426,058 - 426,058 - Senior secured revolving credit facility, variable rate, due April 24, 2022 110,000 - 110,000 - Settlement payable 418,840 - 418,840 - Derivative liability, net 22,897 - 22,897 - Contingent consideration 2,957 - - 2,957 Total $ 5,666,340 $ - $ 5,663,383 $ 2,957
Roll Forward of Liabilities Measured at Fair Value on Recurring Basis Using Unobservable Inputs	The following is a roll forward of our liabilities measured at fair value on a recurring basis using unobservable inputs (Level 3): (Thousands) December 31, 2020 Transfers into Level 3 (Gain)/Loss included in earnings Settlements June 30, 2021 Contingent consideration $ 2,957 $ - $ 22 $ (2,979 ) $ -

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	6 Months Ended
	Jun. 30, 2021
Property Plant And Equipment [Abstract]
Schedule of Carrying Value of Property, Plant and Equipment	The carrying value of property, plant and equipment is as follows: (Thousands) Depreciable Lives June 30, 2021 December 31, 2020 Land Indefinite $ 27,936 $ 27,945 Building and improvements 3 - 40 years 358,570 351,305 Poles 30 years 273,934 266,758 Fiber 30 years 3,875,028 3,737,372 Equipment 5 - 7 years 314,256 298,912 Copper 20 years 3,902,265 3,850,987 Conduit 30 years 89,960 89,773 Tower assets 20 years 8,544 8,571 Finance lease assets (1 ) 71,444 74,103 Other assets 15 - 20 years 10,644 10,553 Corporate assets 3 - 7 years 13,829 13,475 Construction in progress (1 ) 85,562 47,086 9,031,972 8,776,840 Less accumulated depreciation (5,631,217 ) (5,503,487 ) Net property, plant and equipment $ 3,400,755 $ 3,273,353 (1) See our Annual Report for property, plant and equipment accounting policies.

Derivative Instruments and He_2

Derivative Instruments and Hedging Activities (Tables)	6 Months Ended
	Jun. 30, 2021
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Summary of Gross Amount of Derivative Instruments Subject to Master Netting Arrangements With Same Counterparty	The following tables present the gross amounts of our derivative instruments subject to master netting arrangements with the same counterparty as of June 30, 2021 and December 31, 2020: Offsetting of Derivative Assets and Liabilities (Thousands) Gross Amounts of Recognized Assets or Liabilities Gross Amounts Offset in the Condensed Consolidated Balance Sheets Net Amounts of Assets or Liabilities presented in the Condensed Consolidated Balance Sheets At June 30, 2021 Assets Interest rate swaps $ 19,965 $ (19,965 ) $ - Total $ 19,965 $ (19,965 ) $ - Liabilities Interest rate swaps $ 36,751 $ (19,965 ) $ 16,786 Total $ 36,751 $ (19,965 ) $ 16,786 Offsetting of Derivative Assets and Liabilities (Thousands) Gross Amounts of Recognized Assets or Liabilities Gross Amounts Offset in the Condensed Consolidated Balance Sheets Net Amounts of Assets or Liabilities presented in the Condensed Consolidated Balance Sheets At December 31, 2020 Assets Interest rate swaps $ 27,869 $ (27,869 ) $ - Total $ 27,869 $ (27,869 ) $ - Liabilities Interest rate swaps $ 50,766 $ (27,869 ) $ 22,897 Total $ 50,766 $ (27,869 ) $ 22,897
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 Sheets: (Thousands) Location on Condensed Consolidated Balance Sheets June 30, 2021 December 31, 2020 Interest rate swaps Derivative liability, net $ 16,786 $ 22,897

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets and Liabilities (Tables)	6 Months Ended
	Jun. 30, 2021
Goodwill And Intangible Assets And Liabilities Disclosure [Abstract]
Schedule of Carrying Amount of Goodwill	There were no changes in the carrying amount of goodwill occurring during the three and six months ended June 30, 2021. (Thousands) Fiber Infrastructure Total Goodwill at December 31, 2020 $ 601,878 $ 601,878 Goodwill at June 30, 2021 601,878 601,878
Schedule of Carrying Value of Other Intangible Assets	(Thousands) June 30, 2021 December 31, 2020 Original Cost Accumulated Amortization Original Cost Accumulated Amortization Finite life intangible assets: Customer lists $ 416,104 $ (94,426 ) $ 416,104 $ (82,989 ) Contracts 52,536 (4,925 ) 48,269 (1,068 ) Underlying Rights 10,497 (262 ) 10,497 (87 ) Total intangible assets $ 479,137 $ 474,870 Less: accumulated amortization (99,613 ) (84,145 ) Total intangible assets, net $ 379,524 $ 390,725 Finite life intangible liabilities: Below-market leases $ 191,154 (8,021 ) $ 190,086 (2,200 ) Finite life intangible liabilities: Below-market leases $ 191,154 $ 190,086 Less: accumulated amortization (8,021 ) (2,200 ) Total intangible liabilities, net $ 183,133 $ 187,886

Notes and Other Debt (Tables)

Notes and Other Debt (Tables)	6 Months Ended
	Jun. 30, 2021
Long Term Debt [Abstract]
Schedule of Notes and Other Debt	Notes and other debt are as follows: (Thousands) June 30, 2021 December 31, 2020 Principal amount $ 4,970,000 $ 4,965,000 Less unamortized discount, premium and debt issuance costs (85,590 ) (148,476 ) Notes and other debt less unamortized discount, premium and debt issuance costs $ 4,884,410 $ 4,816,524 Notes and other debt at June 30, 2021 and December 31, 2020 consisted of the following: June 30, 2021 December 31, 2020 (Thousands) Principal Unamortized Discount, Premium and Debt Issuance Costs Principal Unamortized Discount, Premium and Debt Issuance Costs Senior secured notes - 6.00%, due April 15, 2023 (discount is based on imputed interest rate of 6.49%) $ - $ - $ 550,000 $ (4,053 ) Senior secured notes - 7.875%, due February 15, 2025 (discount is based on imputed interest rate of 8.38%) 2,250,000 (35,730 ) 2,250,000 (39,852 ) Senior secured notes - 4.75%, due April 15, 2028 (discount is based on imputed interest rate of 5.04%) 570,000 (9,479 ) - - Senior unsecured notes - 8.25%, due October 15, 2023 (discount is based on imputed interest rate of 9.06%) - - 1,110,000 (22,024 ) Senior unsecured notes - 4.00%, due June 15, 2024 (discount is based on imputed interest rate of 4.77%) 345,000 (7,359 ) 345,000 (69,608 ) Senior unsecured notes - 7.125% due December 15, 2024 (discount is based on imputed interest rate of 7.38%) 600,000 (4,794 ) 600,000 (5,316 ) Senior unsecured notes - 6.50%, due February 15, 2029 (discount is based on imputed interest rate of 6.83%) 1,110,000 (21,668 ) - - Senior secured revolving credit facility, variable rate, due December 10, 2024 95,000 (6,560 ) 110,000 (7,623 ) Total $ 4,970,000 $ (85,590 ) $ 4,965,000 $ (148,476 )

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2021
Earnings Per Share [Abstract]
Schedule of Earnings Per Share Basic and Diluted	The following sets forth the computation of basic and diluted earnings per share under the two-class method: Three Months Ended June 30, Six Months Ended June 30, (Thousands, except per share data) 2021 2020 2021 2020 Basic earnings per share: Numerator: Net income (loss) attributable to shareholders $ 48,907 $ (587,744 ) $ 44,469 $ (666,597 ) Less: Income allocated to participating securities (333 ) (424 ) (581 ) (624 ) Dividends declared on convertible preferred stock (2 ) (1 ) (5 ) (4 ) Net income (loss) attributable to common shares $ 48,572 $ (588,169 ) $ 43,883 $ (667,225 ) Denominator: Basic weighted-average common shares outstanding 231,801 192,479 231,636 192,358 Basic earnings (loss) per common share $ 0.21 $ (3.06 ) $ 0.19 $ (3.47 ) Three Months Ended June 30, Six Months Ended June 30, (Thousands, except per share data) 2021 2020 2021 2020 Diluted earnings per share: Numerator: Net income (loss) attributable to shareholders $ 48,907 $ (587,744 ) $ 44,469 $ (666,597 ) Less: Income allocated to participating securities (333 ) (424 ) (581 ) (624 ) Dividends declared on convertible preferred stock (2 ) (1 ) (5 ) (4 ) Impact on if-converted dilutive securities 2,974 - - - Net income (loss) attributable to common shares $ 51,546 $ (588,169 ) $ 43,883 $ (667,225 ) Denominator: Basic weighted-average common shares outstanding 231,801 192,479 231,636 192,358 Effect of dilutive non-participating securities 135 - 226 - Impact on if-converted dilutive securities 30,332 - - - Weighted-average shares for dilutive earnings per common share 262,268 192,479 231,862 192,358 Dilutive earnings (loss) per common share $ 0.20 $ (3.06 ) $ 0.19 $ (3.47 )

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 30, 2021
Segment Reporting [Abstract]
Schedule of Segment Reporting Information	Selected financial data related to our segments is presented below for the three and six months ended June 30, 2021 and 2020 Three Months Ended June 30, 2021 (Thousands) Leasing Fiber Infrastructure Towers Consumer CLEC Corporate Subtotal of Reportable Segments Revenues $ 196,057 $ 72,123 $ - $ - $ - $ 268,180 Adjusted EBITDA $ 192,137 $ 29,439 $ - $ - $ (5,842 ) $ 215,734 Less: Interest expense 106,388 Depreciation and amortization 40,474 29,132 - - 65 69,671 Other expense, net 8,779 Transaction related and other costs 424 Gain on sale of real estate (442 ) Gain on sale of operations (28,143 ) Stock-based compensation 3,462 Income tax expense 5,084 Adjustments for equity in earnings from unconsolidated entities 872 Net income $ 49,639 Three Months Ended June 30, 2020 (Thousands) Leasing Fiber Infrastructure Towers Consumer CLEC Corporate Subtotal of Reportable Segments Revenues $ 185,320 $ 79,140 $ 2,392 (32 ) $ - $ 266,820 Adjusted EBITDA $ 182,810 $ 28,493 $ 85 $ (292 ) $ (8,227 ) $ 202,869 Less: Interest expense 107,243 Depreciation and amortization 52,405 32,279 14 197 74 84,969 Other expense, net 6,013 Settlement expense 650,000 Transaction related and other costs 18,556 Gain on sale of real estate (63,818 ) Stock-based compensation 4,110 Income tax benefit (5,875 ) Net loss $ (598,329 ) Six Months Ended June 30, 2021 (Thousands) Leasing Fiber Infrastructure Towers Consumer CLEC Corporate Subtotal of Reportable Segments Revenues $ 390,993 $ 149,773 $ - $ - $ - $ 540,766 Adjusted EBITDA $ 383,634 $ 59,160 $ - $ - $ (12,812 ) $ 429,982 Less: Interest expense 246,969 Depreciation and amortization 82,700 57,802 - - 133 140,635 Other income, net 10,097 Transaction related and other costs 4,561 Gain on sale of real estate (442 ) Gain on sale of operations (28,143 ) Stock-based compensation 6,797 Income tax expense 2,527 Adjustments for equity in earnings from unconsolidated entities 1,844 Net income $ 45,137 Six Months Ended June 30, 2020 (Thousands) Leasing Fiber Infrastructure Towers Consumer CLEC Corporate Subtotal of Reportable Segments Revenues $ 369,672 $ 156,547 $ 6,112 $ 651 $ - $ 532,982 Adjusted EBITDA $ 364,689 $ 56,034 $ 77 $ (275 ) $ (15,942 ) $ 404,583 Less: Interest expense 285,636 Depreciation and amortization 107,027 62,340 783 791 149 171,090 Other income, net 9,088 Settlement expense 650,000 Transaction related and other costs 34,528 Gain on sale of real estate (63,818 ) Stock-based compensation 7,105 Income tax benefit (10,451 ) Net loss $ (678,595 )

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive (Loss) Income (Tables)	6 Months Ended
	Jun. 30, 2021
Accumulated Other Comprehensive Income Loss Net Of Tax [Abstract]
Schedule of Changes in Accumulated Other Comprehensive (Loss) Income by Component	Changes in accumulated other comprehensive (loss) income by component is as follows for the three and six months ended June 30, 2021 and 2020: Three Months Ended June 30, Six Months Ended June 30, (Thousands) 2021 2020 2021 2020 Cash flow hedge changes in fair value (loss) gain: Balance at beginning of period attributable to common shareholders $ (30,353 ) $ (30,353 ) $ (30,353 ) $ (23,442 ) Other comprehensive loss before reclassifications - - - (7,713 ) Amounts reclassified from accumulated other comprehensive income - - - 677 Balance at end of period (30,353 ) (30,353 ) (30,353 ) (30,478 ) Less: Other comprehensive loss attributable to noncontrolling interest - - - (125 ) Balance at end of period attributable to common shareholders (30,353 ) (30,353 ) (30,353 ) (30,353 ) Interest rate swap termination: Balance at beginning of period attributable to common shareholders 12,773 1,636 9,986 - Amounts reclassified from accumulated other comprehensive income 2,829 2,830 5,658 4,496 Balance at end of period 15,602 4,466 15,644 4,496 Less: Other comprehensive (loss) income attributable to noncontrolling interest 41 50 83 80 Balance at end of period attributable to common shareholders 15,561 4,416 15,561 4,416 Accumulated other comprehensive loss at end of period $ (14,792 ) $ (25,937 ) $ (14,792 ) $ (25,937 )

Organization and Description _2

Organization and Description of Business - Additional Information (Details) - Segment	Jan. 01, 2021	Jun. 30, 2021	Dec. 31, 2020
Organization And Description Of Business [Line Items]
Number of operating business segments	2		4
Uniti Group LP
Organization And Description Of Business [Line Items]
Percentage of partnership interests owned		98.50%

Basis of Presentation and Sum_3

Basis of Presentation and Summary of Significant Accounting Policies - Additional Information (Details) - USD ($) $ in Thousands	Jan. 01, 2021	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Summary Of Significant Accounting Policies [Line Items]
Accounting Standards Update Extensible List		unit:AccountingStandardUpdate202006Member
Debt instrument carrying amount		$ 4,970,000		$ 4,965,000
Additional paid-in capital		1,153,707		1,209,141
Cumulative Effect Adjustment for Adoption of New Accounting Standard
Summary Of Significant Accounting Policies [Line Items]
Change in accounting principle, ASU, Adopted	true
Accounting Standards Update Extensible List	unit:AccountingStandardUpdate202006Member
Change in accounting principle, ASU, Transition option elected [Extensible List]	unit:AccountingStandardUpdate202006ModifiedRetrospectiveMember
Change in accounting principle, ASU, Adoption date	Jan. 1, 2021
Additional paid-in capital		(59,900)
Deferred tax liabilities		(15,800)
Retained earnings		$ 14,600
Cumulative Effect Adjustment for Adoption of New Accounting Standard | Exchangeable Senior Unsecured Notes
Summary Of Significant Accounting Policies [Line Items]
Debt instrument carrying amount	$ 336,500			$ 275,400
Increase in carrying amount of debt due to adoption	$ 61,100
Effective interest rate	4.80%			11.10%
Windstream | Revenue
Summary Of Significant Accounting Policies [Line Items]
Windstream leases and the master lease revenue percentage		67.10%	65.20%

Revenues - Revenues Disaggregat

Revenues - Revenues Disaggregated by Revenue Stream (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Disaggregation Of Revenue [Line Items]
Total revenue from contracts with customers	$ 62,056	$ 69,388	$ 129,447	$ 139,006
Total revenues	268,180	266,820	540,766	532,982
Fiber Infrastructure
Disaggregation Of Revenue [Line Items]
Total revenue from contracts with customers	61,056	69,420	127,280	138,355
Total revenues	72,123	79,140	149,773	156,547
Fiber Infrastructure | Lit Backhaul
Disaggregation Of Revenue [Line Items]
Total revenue from contracts with customers	22,979	27,216	48,023	55,408
Fiber Infrastructure | Enterprise and Wholesale
Disaggregation Of Revenue [Line Items]
Total revenue from contracts with customers	21,327	19,628	42,327	38,886
Fiber Infrastructure | E-Rate and Government
Disaggregation Of Revenue [Line Items]
Total revenue from contracts with customers	15,926	21,821	35,290	42,758
Fiber Infrastructure | Other
Disaggregation Of Revenue [Line Items]
Total revenue from contracts with customers	824	755	1,640	1,303
Consumer CLEC
Disaggregation Of Revenue [Line Items]
Total revenue from contracts with customers		(32)		651
Total revenues		(32)		651
Leasing
Disaggregation Of Revenue [Line Items]
Total revenue from contracts with customers	1,000		2,167
Total revenues	196,057	185,320	390,993	369,672
ASU 2016-02
Disaggregation Of Revenue [Line Items]
Total revenues	$ 206,124	$ 197,432	$ 411,319	$ 393,976

Revenues - Additional Informati

Revenues - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2021	Dec. 31, 2020
ASU 2016-02
Revenue Recognition [Line Items]
Lease receivables	$ 15.1	$ 15.1	$ 17.5
ASC 2014-09
Revenue Recognition [Line Items]
Receivables from contracts with customers	22.7	22.7	$ 45.1
Revenue recognized that was included in the contract liability	3	8.1
Future revenues under contract	418.7	418.7
Contracts currently being invoiced	339.4	339.4
Backlog for sales bookings	$ 79.3	$ 79.3
Average remaining contract term of backlog sales bookings		6 years 2 months 12 days

Revenues - Schedule of Contract

Revenues - Schedule of Contract Assets and Contract Liabilities (Details) - ASC 2014-09 $ in Thousands	Jun. 30, 2021USD ($)
Deferred Revenue Arrangement [Line Items]
Balance, Contract Assets at December 31, 2020	$ 3,462
Balance, Contract Assets at June 30, 2021	1,624
Balance, Contract Liabilities at December 31, 2020	18,601
Balance, Contract Liabilities at June 30, 2021	$ 13,970

Revenues - Additional Informa_2

Revenues - Additional Information (Details 1)	Jun. 30, 2021
ASC 2014-09 | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2021-04-01
Revenue Recognition [Line Items]
Average remaining contract term for contracts currently billing	1 year 8 months 12 days

Leases - Additional Information

Leases - Additional Information (Details) $ in Millions	6 Months Ended
	Jun. 30, 2021USD ($)
Leases [Line Items]
Lessor, operating lease, existence of option to extend [true false]	true
Lessor, lease option to extend, description	options to extend or renew the leases for less than one year to 20 years
Lessor, operating lease, existence of option to terminate [true false]	true
Lessor, lease option to terminate, description	options to terminate the leases within one to six months
Lessee, operating lease, existence of option to extend [true false]	true
Lessee, lease option to extend, description	options to extend or renew the leases for less than one year to 20 years
Lessee, operating lease, existence of option to terminate [true false]	true
Lessee, option to terminate, description	options to terminate the leases within one to six months
Short term lease commitments	$ 2.6
Minimum
Leases [Line Items]
Lessor, initial lease term	1 year
Lessor, lease renewal term	1 year
Lessor operating lease, termination	1 month
Lessee, initial lease term	1 year
Lessee, lease renewal term	1 year
Lessee, lease option to terminate, description	1 month
Maximum
Leases [Line Items]
Lessor, initial lease term	35 years
Lessor, lease renewal term	20 years
Lessor operating lease, termination	6 months
Lessee, initial lease term	30 years
Lessee, lease renewal term	20 years
Lessee, lease option to terminate, description	6 months

Leases - Components of Lease In

Leases - Components of Lease Income (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Leases [Abstract]
Lease income - operating leases	$ 206,124	$ 197,432	$ 411,319	$ 393,976

Leases - Lease Payments to be R

Leases - Lease Payments to be Received under Non-Cancellable Operating Leases (Details) $ in Thousands	Jun. 30, 2021USD ($)	[1]
Leases [Abstract]
2021	$ 368,041
2022	751,516
2023	755,574
2024	757,431
2025	759,168
Thereafter	3,734,183
Total lease receivables	$ 7,125,913
[1]	Total future minimum lease payments to be received include $6.1 billion relating to the Windstream Leases.

Leases - Lease Payments to be_2

Leases - Lease Payments to be Received under Non-Cancellable Operating Leases (Parenthetical) (Details) $ in Thousands	Jun. 30, 2021USD ($)
Lessee Lease Description [Line Items]
Total future minimum lease payments to be received	$ 7,125,913	[1]
Windstream
Lessee Lease Description [Line Items]
Total future minimum lease payments to be received	$ 6,100,000
[1]	Total future minimum lease payments to be received include $6.1 billion relating to the Windstream Leases.

Leases - Schedule of Underlying

Leases - Schedule of Underlying Assets under Operating Leases (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Lessor Lease Description [Line Items]
Underlying assets under operating leases, gross	$ 7,821,421	$ 7,608,978
Less: accumulated depreciation	(5,319,033)	(5,222,731)
Underlying assets under operating leases, net	2,502,388	2,386,247
Land
Lessor Lease Description [Line Items]
Underlying assets under operating leases, gross	26,596	26,596
Building and Improvements
Lessor Lease Description [Line Items]
Underlying assets under operating leases, gross	340,096	335,495
Poles
Lessor Lease Description [Line Items]
Underlying assets under operating leases, gross	273,934	266,758
Fiber
Lessor Lease Description [Line Items]
Underlying assets under operating leases, gross	3,147,976	2,994,465
Equipment
Lessor Lease Description [Line Items]
Underlying assets under operating leases, gross	428	421
Copper
Lessor Lease Description [Line Items]
Underlying assets under operating leases, gross	3,902,265	3,850,988
Conduit
Lessor Lease Description [Line Items]
Underlying assets under operating leases, gross	89,960	89,773
Tower assets
Lessor Lease Description [Line Items]
Underlying assets under operating leases, gross	1,397	1,397
Finance Lease Assets
Lessor Lease Description [Line Items]
Underlying assets under operating leases, gross	28,126	32,660
Other assets
Lessor Lease Description [Line Items]
Underlying assets under operating leases, gross	$ 10,643	$ 10,425

Leases - Schedule of Depreciati

Leases - Schedule of Depreciation Expense for Underlying Assets under Operating Leases (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Leases [Abstract]
Depreciation expense for underlying assets under operating leases	$ 44,107	$ 53,303	$ 90,020	$ 109,437

Leases - Components of Lease Co

Leases - Components of Lease Cost (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Leases [Abstract]
Amortization of ROU assets	$ 1,335	$ 954	$ 2,697	$ 1,979
Interest on lease liabilities	717	969	1,627	1,957
Total finance lease cost	2,052	1,923	4,324	3,936
Operating lease cost	3,102	6,421	8,215	13,959
Short-term lease cost	748	526	1,440	1,009
Variable lease cost	109	66	296	84
Less sublease income	(3,246)	(3,076)	(6,228)	(6,770)
Total lease cost	$ 2,765	$ 5,860	$ 8,047	$ 12,218

Leases - Summary of Amounts Rep

Leases - Summary of Amounts Reported in Condensed Consolidated Balance Sheets for Leases (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Operating leases
ROU assets, net	$ 73,620	$ 97,850
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Other assets, net	Other assets, net
Lease liabilities	$ 49,909	$ 71,483
Operating Lease, Liability, Statement of Financial Position [Extensible List]	Accounts payable, accrued expenses and other liabilities, net	Accounts payable, accrued expenses and other liabilities, net
Finance leases
ROU asset, gross	$ 71,444	$ 128,098
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Property, plant and equipment, net	Property, plant and equipment, net
Lease liabilities	$ 14,497	$ 48,724
Finance Lease Liability Statement Of Financial Position Extensible List	unit:FinanceLeaseLiabilityExcludingFinanceLeaseObligationsInHeldForSale	unit:FinanceLeaseLiabilityExcludingFinanceLeaseObligationsInHeldForSale
Weighted-average remaining lease term
Operating leases	8 years 9 months 18 days	12 years 2 months 12 days
Finance leases	13 years 3 months 18 days	13 years 3 months 18 days
Weighted-average discount rate
Operating leases	9.50%	9.90%
Finance leases	11.00%	8.00%

Leases - Schedule of Other Info

Leases - Schedule of Other Information Related to Leases (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from finance leases	$ 1,627	$ 1,957
Operating cash flows from operating leases	10,381	14,470
Financing cash flows from finance leases	1,393	1,979
Non-cash items:
New operating leases and remeasurements, net	$ 1,722	3,847
New finance leases		$ 31

Leases - Future Lease Payments

Leases - Future Lease Payments under Non-Cancellable Leases (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Operating Leases
2021	$ 7,446
2022	12,672
2023	10,484
2024	8,064
2025	5,439
Thereafter	31,892
Total undiscounted lease payments	75,997
Less: imputed interest	(26,088)
Total lease liabilities	49,909	$ 71,483
Finance Leases
2021	1,164
2022	2,225
2023	2,174
2024	1,972
2025	1,911
Thereafter	15,440
Total undiscounted lease payments	24,886
Less: imputed interest	(10,389)
Total lease liabilities	$ 14,497	$ 48,724

Leases - Future Sublease Rental

Leases - Future Sublease Rentals (Details) $ in Thousands	Jun. 30, 2021USD ($)
Leases [Abstract]
2021	$ 4,458
2022	9,310
2023	9,377
2024	9,445
2025	9,513
Thereafter	136,177
Total	$ 178,280

Asset Dispositions - Additional

Asset Dispositions - Additional Information (Details) - USD ($) $ in Thousands	May 28, 2021	Jun. 01, 2020	Jun. 30, 2021	Jun. 30, 2020
Melody Investment Advisors | United States | Tower
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Total cash consideration		$ 225,800
Gain related to transaction				$ 63,400
Net assets value		$ 190,000
Investment interest retained, percentage		10.00%
Fair value of retained investment interest		$ 26,000
Incremental earn-out payments, estimated to be received		$ 1,600
Everstream Solutions LLC
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Total cash consideration			$ 62,113
Net assets value			89,584
Everstream Solutions LLC | IRU Lease Agreements
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Lease agreements, term	20 years
Management fee receivable	$ 3,000
Annual escalator	2.00%
Everstream Solutions LLC | IRU Lease Agreements | Gain on Sale of Operations
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Gain related to transaction			$ 28,100
Everstream Solutions LLC | Uniti Fiber Northeast Operations And Certain Dark Fiber Indefeasible Rights Of Use Contracts
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Total cash consideration	$ 135,000

Asset Dispositions - Schedule o

Asset Dispositions - Schedule of Assets and Liabilities Sold (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2021	Dec. 31, 2020
Liabilities:
Total liabilities			$ 55,752
Gain on sale of operations	$ 28,143	$ 28,143
Everstream Solutions LLC
Assets:
Property, plant and equipment, net	44,685	44,685
Goodwill	17,794	17,794
Intangible assets, net	7,264	7,264
Right of use assets, net	19,841	19,841
Total assets	89,584	89,584
Liabilities:
Lease liabilities	18,779	18,779
Intangible liabilities, net	4,492	4,492
Finance lease obligations	32,343	32,343
Total liabilities	55,614	55,614
Cash consideration	62,113	62,113
Less: total assets and liabilities sold, net	$ (33,970)	(33,970)
Gain on sale of operations		$ 28,143

Investments in Unconsolidated_2

Investments in Unconsolidated Entities - Additional Information (Details) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2021USD ($)	Jun. 30, 2021USD ($)
Variable Interest Entity, Not Primary Beneficiary
Schedule Of Equity Method Investments [Line Items]
Aggregate investment in equity method	$ 65	$ 65
BB Fiber Holdings LLC
Schedule Of Equity Method Investments [Line Items]
Percentage of ownership interest in Propco under long-term, triple net lease		47.50%
Percentage of economic interest in Propco		20.00%
Current investment and maximum exposure to loss result of involvement	40.5	$ 40.5
BB Fiber Holdings LLC | Variable Interest Entity, Not Primary Beneficiary
Schedule Of Equity Method Investments [Line Items]
Percentage of ownership interest		42.00%
HarmoniHarmoni | Variable Interest Entity, Not Primary Beneficiary
Schedule Of Equity Method Investments [Line Items]
Percentage of ownership interest		8.00%
Current investment and maximum exposure to loss	24.5	$ 24.5
Transition service fees earned	$ 0.1	$ 0.2

Fair Value of Financial Instr_3

Fair Value of Financial Instruments - Schedule of Fair Value Valuation of Financial Instruments (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Liabilities
Settlement payable	$ 378,718	$ 418,840
Derivative liability, net	16,786	22,897
Total	5,606,424	5,666,340
Contingent consideration		2,957
Prices with Other Observable Inputs (Level 2)
Liabilities
Settlement payable	378,718	418,840
Derivative liability, net	16,786	22,897
Total	5,606,424	5,663,383
Prices with Unobservable Inputs (Level 3)
Liabilities
Total		2,957
Contingent consideration		2,957
7.875% Senior Secured Notes
Liabilities
Senior notes	2,410,313	2,410,313
7.875% Senior Secured Notes | Prices with Other Observable Inputs (Level 2)
Liabilities
Senior notes	2,410,313	2,410,313
6.00% Senior Secured Notes
Liabilities
Senior notes		561,000
6.00% Senior Secured Notes | Prices with Other Observable Inputs (Level 2)
Liabilities
Senior notes		561,000
4.75% Senior Secured Notes
Liabilities
Senior notes	569,288
4.75% Senior Secured Notes | Prices with Other Observable Inputs (Level 2)
Liabilities
Senior notes	569,288
8.25% Senior Unsecured Notes
Liabilities
Senior notes		1,112,775
8.25% Senior Unsecured Notes | Prices with Other Observable Inputs (Level 2)
Liabilities
Senior notes		1,112,775
7.125% Senior Unsecured Notes
Liabilities
Senior notes	621,000	601,500
7.125% Senior Unsecured Notes | Prices with Other Observable Inputs (Level 2)
Liabilities
Senior notes	621,000	601,500
6.50% Senior Unsecured Notes
Liabilities
Senior notes	1,115,550
6.50% Senior Unsecured Notes | Prices with Other Observable Inputs (Level 2)
Liabilities
Senior notes	1,115,550
Exchangeable Senior Notes - 4.00%, due June 15, 2024
Liabilities
Senior notes	399,769
Exchangeable Senior Notes - 4.00%, due June 15, 2024 | Prices with Other Observable Inputs (Level 2)
Liabilities
Senior notes	399,769
Senior Secured Revolving Credit Facility
Liabilities
Senior secured loan	95,000	110,000
Senior Secured Revolving Credit Facility | Prices with Other Observable Inputs (Level 2)
Liabilities
Senior secured loan	$ 95,000	110,000
Exchangeable Senior Unsecured Notes - 4.00%, due June 15, 2024
Liabilities
Senior notes		426,058
Exchangeable Senior Unsecured Notes - 4.00%, due June 15, 2024 | Prices with Other Observable Inputs (Level 2)
Liabilities
Senior notes		$ 426,058

Fair Value of Financial Instr_4

Fair Value of Financial Instruments - Schedule of Fair Value Valuation of Financial Instruments (Parenthetical) (Details)	6 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2020	Feb. 02, 2021
7.875% Senior Secured Notes
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Issuance senior notes, stated percentage	7.875%	7.875%
Debt instrument, maturity date	Feb. 15, 2025	Feb. 15, 2025
4.75% Senior Secured Notes
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Issuance senior notes, stated percentage	4.75%	4.75%
Debt instrument, maturity date	Apr. 15, 2028	Apr. 15, 2028
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
7.125% Senior Unsecured Notes
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Issuance senior notes, stated percentage	7.125%	7.125%
Debt instrument, maturity date	Dec. 15, 2024	Dec. 15, 2024
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%	8.25%
Debt instrument, maturity date	Oct. 15, 2023	Oct. 15, 2023
6.50% Senior Unsecured Notes
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Issuance senior notes, stated percentage	6.50%
Debt instrument, maturity date	Feb. 15, 2029
Exchangeable Senior Notes - 4.00%, due June 15, 2024
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Issuance senior notes, stated percentage	4.00%
Debt instrument, maturity date	Jun. 15, 2024
Senior Secured Revolving Credit Facility
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Debt instrument, maturity date	Dec. 10, 2024	Dec. 10, 2024
Debt instrument, original maturity date		Apr. 24, 2022
Exchangeable Senior Unsecured Notes - 4.00%, due June 15, 2024
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Issuance senior notes, stated percentage		4.00%
Debt instrument, maturity date		Jun. 15, 2024

Fair Value of Financial Instr_5

Fair Value of Financial Instruments - Additional Information (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 31, 2021USD ($)	Jun. 30, 2020USD ($)	Jun. 30, 2021USD ($)Installment	Jun. 30, 2020USD ($)	Dec. 31, 2020USD ($)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Principal amount of outstanding notes and other debt			$ 4,970,000		$ 4,965,000
Fair value of settlement payable			378,718		418,840
Payments of contingent consideration			2,979	$ 7,086
Increase in fair value of contingent consideration liability		$ 4,600	21	6,140
Maximum
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Increase in fair value of contingent consideration liability	$ 100
Tower Cloud, Inc.
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Payments for the achievement of final remaining milestone	$ 3,000
Payments of contingent consideration				$ 7,100
Windstream
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Cash payment in equal installments emergence from bankruptcy			$ 490,100
Number of installments | Installment			20
Prices with Other Observable Inputs (Level 2)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Notes and other debt, fair value			$ 5,210,000
Fair value of settlement payable			$ 378,718		$ 418,840

Fair Value of Financial Instr_6

Fair Value of Financial Instruments - Roll Forward of Liabilities Measured at Fair Value on Recurring Basis Using Unobservable Inputs (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2021USD ($)
Fair Value Disclosures [Abstract]
Contingent consideration, beginning balance	$ 2,957
(Gain)/Loss included in earnings	22
Settlements	$ (2,979)

Property, Plant and Equipment -

Property, Plant and Equipment - Schedule of Carrying Value of Property, Plant and Equipment (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	$ 9,031,972	$ 8,776,840
Less accumulated depreciation	(5,631,217)	(5,503,487)
Net property, plant and equipment	3,400,755	3,273,353
Land
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	27,936	27,945
Building and Improvements
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	$ 358,570	351,305
Building and Improvements | Minimum
Property Plant And Equipment [Line Items]
Depreciable Lives	3 years
Building and Improvements | Maximum
Property Plant And Equipment [Line Items]
Depreciable Lives	40 years
Poles
Property Plant And Equipment [Line Items]
Depreciable Lives	30 years
Property, plant and equipment, gross	$ 273,934	266,758
Fiber
Property Plant And Equipment [Line Items]
Depreciable Lives	30 years
Property, plant and equipment, gross	$ 3,875,028	3,737,372
Equipment
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	$ 314,256	298,912
Equipment | Minimum
Property Plant And Equipment [Line Items]
Depreciable Lives	5 years
Equipment | Maximum
Property Plant And Equipment [Line Items]
Depreciable Lives	7 years
Copper
Property Plant And Equipment [Line Items]
Depreciable Lives	20 years
Property, plant and equipment, gross	$ 3,902,265	3,850,987
Conduit
Property Plant And Equipment [Line Items]
Depreciable Lives	30 years
Property, plant and equipment, gross	$ 89,960	89,773
Tower assets
Property Plant And Equipment [Line Items]
Depreciable Lives	20 years
Property, plant and equipment, gross	$ 8,544	8,571
Finance Lease Assets
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	71,444	74,103
Other assets
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	$ 10,644	10,553
Other assets | Minimum
Property Plant And Equipment [Line Items]
Depreciable Lives	15 years
Other assets | Maximum
Property Plant And Equipment [Line Items]
Depreciable Lives	20 years
Corporate assets
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	$ 13,829	13,475
Corporate assets | Minimum
Property Plant And Equipment [Line Items]
Depreciable Lives	3 years
Corporate assets | Maximum
Property Plant And Equipment [Line Items]
Depreciable Lives	7 years
Construction in progress
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	$ 85,562	$ 47,086

Property, Plant and Equipment_2

Property, Plant and Equipment - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Property Plant And Equipment [Abstract]
Depreciation expense	$ 64.9	$ 77.2	$ 131.1	$ 155

Derivative Instruments and He_3

Derivative Instruments and Hedging Activities - Additional Information (Details) - USD ($)	Jun. 25, 2019	Apr. 27, 2015	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Derivative Instruments And Hedging Activities Disclosures [Line Items]
Estimated amount to be reclassified as an increase to interest expense			$ 11,300,000		$ 11,300,000
Common stock aggregate at an exercise price	$ 16.42
Warrants expiring period					2024-09
Reclassification Out of Other Comprehensive Income | Designated as Cash Flow Hedges
Derivative Instruments And Hedging Activities Disclosures [Line Items]
Reclassification out of other comprehensive income into interest (expense) benefit			$ (2,800,000)	$ (2,800,000)	$ (5,700,000)	$ (5,200,000)
Maximum
Derivative Instruments And Hedging Activities Disclosures [Line Items]
Maximum number of shares issued pursuant to warrants	55,500,000
Maximum | Warrants
Derivative Instruments And Hedging Activities Disclosures [Line Items]
Anti-dilution adjustments	27,800,000
Interest Rate Swap
Derivative Instruments And Hedging Activities Disclosures [Line Items]
Derivative, notional value		$ 2,010,000,000
Derivative, maturity date		Oct. 24, 2022

Derivative Instruments and He_4

Derivative Instruments and Hedging Activities - Summary of Gross Amount of Derivative Instruments Subject to Master Netting Arrangements With Same Counterparty (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Offsetting Assets And Liabilities [Line Items]
Gross Amounts of Recognized Assets	$ 19,965	$ 27,869
Gross Amounts Offset in the Condensed Consolidated Balance Sheets	(19,965)	(27,869)
Gross Amounts of Recognized Liabilities	36,751	50,766
Gross Amounts Offset in the Condensed Consolidated Balance Sheets	(19,965)	(27,869)
Net Amounts of Assets or Liabilities presented in the Condensed Consolidated Balance Sheets	16,786	22,897
Interest Rate Swap
Offsetting Assets And Liabilities [Line Items]
Gross Amounts of Recognized Assets	19,965	27,869
Gross Amounts Offset in the Condensed Consolidated Balance Sheets	(19,965)	(27,869)
Gross Amounts of Recognized Liabilities	36,751	50,766
Gross Amounts Offset in the Condensed Consolidated Balance Sheets	(19,965)	(27,869)
Net Amounts of Assets or Liabilities presented in the Condensed Consolidated Balance Sheets	$ 16,786	$ 22,897

Derivative Instruments and He_5

Derivative Instruments and Hedging Activities - Summary of Fair Value of Derivative Instruments and Presentation in Condensed Consolidated Balance Sheet (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Derivatives Fair Value [Line Items]
Derivative liability, net	$ 16,786	$ 22,897
Interest Rate Swap
Derivatives Fair Value [Line Items]
Derivative liability, net	$ 16,786	$ 22,897

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets and Liabilities - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Schedule Of Indefinite And Finite Lived Intangible Assets And Liabilities [Line Items]
Remaining weighted average amortization period of intangible assets			15 years 3 months 18 days
Remaining weighted average amortization period of intangible liabilities			18 years 4 months 24 days
Amortization	$ 4.7	$ 7.8	$ 9.5	$ 16.1
Estimated amortization expense for 2021	19.1		19.1
Estimated amortization expense for 2022	19.1		19.1
Estimated amortization expense for 2023	19		19
Estimated amortization expense for 2024	19		19
Estimated amortization expense for 2025	19		19
Fiber Infrastructure
Schedule Of Indefinite And Finite Lived Intangible Assets And Liabilities [Line Items]
Change in goodwill amount	$ 0		$ 0

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets and Liabilities - Schedule of Carrying Amount of Goodwill (Details) $ in Thousands	Jun. 30, 2021USD ($)
Goodwill [Line Items]
Goodwill at December 31, 2020	$ 601,878
Goodwill at June 30, 2021	601,878
Fiber Infrastructure
Goodwill [Line Items]
Goodwill at December 31, 2020	601,878
Goodwill at June 30, 2021	$ 601,878

Goodwill and Intangible Asset_5

Goodwill and Intangible Assets and Liabilities - Schedule of Carrying Value of the Intangible Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Schedule Of Indefinite And Finite Lived Intangible Assets And Liabilities [Line Items]
Total intangible assets, Original Cost	$ 479,137	$ 474,870
Less: accumulated amortization	(99,613)	(84,145)
Total intangible assets, net	379,524	390,725
Less: accumulated amortization	(8,021)	(2,200)
Total intangible liabilities, net	183,133	187,886
Customer Lists
Schedule Of Indefinite And Finite Lived Intangible Assets And Liabilities [Line Items]
Finite life intangible assets, Original Cost	416,104	416,104
Less: accumulated amortization	(94,426)	(82,989)
Contracts
Schedule Of Indefinite And Finite Lived Intangible Assets And Liabilities [Line Items]
Finite life intangible assets, Original Cost	52,536	48,269
Less: accumulated amortization	(4,925)	(1,068)
Underlying Rights
Schedule Of Indefinite And Finite Lived Intangible Assets And Liabilities [Line Items]
Finite life intangible assets, Original Cost	10,497	10,497
Less: accumulated amortization	(262)	(87)
Below-market Leases
Schedule Of Indefinite And Finite Lived Intangible Assets And Liabilities [Line Items]
Total intangible liabilities	191,154	190,086
Less: accumulated amortization	$ (8,021)	$ (2,200)

Notes and Other Debt - Schedule

Notes and Other Debt - Schedule of Notes and Other Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Mar. 31, 2021	Feb. 02, 2021	Dec. 31, 2020	Dec. 10, 2020
Debt Instrument [Line Items]
Debt instrument carrying amount	$ 4,970,000			$ 4,965,000
Less unamortized discount, premium and debt issuance costs	(85,590)			(148,476)
Notes and other debt less unamortized discount, premium and debt issuance costs	4,884,410			4,816,524
Senior Secured Notes - 6.00% Due April15, 2023
Debt Instrument [Line Items]
Debt instrument carrying amount				550,000
Less unamortized discount, premium and debt issuance costs				(4,053)
Senior Secured Notes - 7.875% Due February 15, 2025
Debt Instrument [Line Items]
Debt instrument carrying amount	2,250,000			2,250,000
Less unamortized discount, premium and debt issuance costs	(35,730)			(39,852)
Senior Secured Notes - 4.75% Due April15, 2028
Debt Instrument [Line Items]
Debt instrument carrying amount	570,000
Less unamortized discount, premium and debt issuance costs	(9,479)
Senior Unsecured Notes - 8.25% Due October 15, 2023
Debt Instrument [Line Items]
Debt instrument carrying amount		$ 58,800	$ 1,110,000	1,110,000
Less unamortized discount, premium and debt issuance costs				(22,024)
Senior Unsecured Notes - 4.00%, Due June 15, 2024
Debt Instrument [Line Items]
Debt instrument carrying amount	345,000			345,000
Less unamortized discount, premium and debt issuance costs	(7,359)			(69,608)
Senior Unsecured Notes - 7.125% Due December 15, 2024
Debt Instrument [Line Items]
Debt instrument carrying amount	600,000			600,000
Less unamortized discount, premium and debt issuance costs	(4,794)			(5,316)
Senior Unsecured Notes - 6.50%, Due February 15, 2029
Debt Instrument [Line Items]
Debt instrument carrying amount	1,110,000
Less unamortized discount, premium and debt issuance costs	(21,668)
Senior Secured Revolving Credit Facility
Debt Instrument [Line Items]
Debt instrument carrying amount	95,000			110,000	$ 560,500
Less unamortized discount, premium and debt issuance costs	$ (6,560)			$ (7,623)

Notes and Other Debt - Schedu_2

Notes and Other Debt - Schedule of Notes and Other Debt (Parenthetical) (Details)	6 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2020	Feb. 02, 2021
Senior Secured Notes - 6.00% Due April15, 2023
Debt Instrument [Line Items]
Debt instrument, maturity date		Apr. 15, 2023
Debt instrument, imputed interest rate		6.49%
Issuance senior notes, stated percentage		6.00%
7.875% Senior Secured Notes
Debt Instrument [Line Items]
Debt instrument, maturity date	Feb. 15, 2025	Feb. 15, 2025
Debt instrument, imputed interest rate	8.38%	8.38%
Issuance senior notes, stated percentage	7.875%	7.875%
Senior Secured Notes - 4.75% Due April15, 2028
Debt Instrument [Line Items]
Debt instrument, maturity date	Apr. 15, 2028	Apr. 15, 2028
Debt instrument, imputed interest rate	5.04%	5.04%
Issuance senior notes, stated percentage	4.75%	4.75%
Senior Unsecured Notes - 8.25% Due October 15, 2023
Debt Instrument [Line Items]
Debt instrument, maturity date	Oct. 15, 2023	Oct. 15, 2023
Debt instrument, imputed interest rate	9.06%	9.06%
Issuance senior notes, stated percentage	8.25%	8.25%	8.25%
Senior Unsecured Notes - 4.00%, Due June 15, 2024
Debt Instrument [Line Items]
Debt instrument, maturity date	Jun. 15, 2024	Jun. 15, 2024
Debt instrument, imputed interest rate	4.77%	4.77%
Issuance senior notes, stated percentage	4.00%	4.00%
Senior Unsecured Notes - 7.125% Due December 15, 2024
Debt Instrument [Line Items]
Debt instrument, maturity date	Dec. 15, 2024	Dec. 15, 2024
Debt instrument, imputed interest rate	7.38%	7.38%
Issuance senior notes, stated percentage	7.125%	7.125%
Senior Unsecured Notes - 6.50%, Due February 15, 2029
Debt Instrument [Line Items]
Debt instrument, maturity date	Feb. 15, 2029
Debt instrument, imputed interest rate	6.83%
Issuance senior notes, stated percentage	6.50%
Senior Secured Revolving Credit Facility
Debt Instrument [Line Items]
Debt instrument, maturity date	Dec. 10, 2024	Dec. 10, 2024

Notes and Other Debt - Addition

Notes and Other Debt - Additional Information (Details) - USD ($) $ in Thousands	Apr. 15, 2021	Dec. 10, 2020	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020	Apr. 20, 2021	Feb. 02, 2021
Debt Instrument [Line Items]
Debt instrument amount			$ 4,970,000			$ 4,970,000		$ 4,965,000
Amortization of deferred financing costs			$ 4,100		$ 4,500	$ 8,200	$ 7,500
Maximum
Debt Instrument [Line Items]
Consolidated secured leverage ratio			5.00%			5.00%
Consolidated total leverage ratio			6.50%			6.50%
Maximum | Pro Forma
Debt Instrument [Line Items]
Consolidated secured leverage ratio			4.00%			4.00%
Senior Secured Revolving Credit Facility
Debt Instrument [Line Items]
Debt instrument amount		$ 560,500	$ 95,000			$ 95,000		$ 110,000
Debt instrument, maturity date						Dec. 10, 2024		Dec. 10, 2024
Commitment fee percentage of average amount of unused commitments						0.50%
Commitment fee step-down percentage of average amount of unused commitments						0.40%
7.875% Senior Secured Notes
Debt Instrument [Line Items]
Debt instrument amount			$ 2,250,000			$ 2,250,000		$ 2,250,000
Issuance senior notes, stated percentage			7.875%			7.875%		7.875%
Debt instrument, maturity date						Feb. 15, 2025		Feb. 15, 2025
4.75% Senior Secured Notes
Debt Instrument [Line Items]
Debt instrument amount			$ 570,000			$ 570,000
Issuance senior notes, stated percentage			4.75%			4.75%		4.75%
Debt instrument, maturity date						Apr. 15, 2028		Apr. 15, 2028
Debt instrument issued percent of principal amount						100.00%
Debt instrument redemption price percentage						100.00%
Debt instrument aggregate principal amount remaining outstanding						60.00%
4.75% Senior Secured Notes | prior to April 15, 2024
Debt Instrument [Line Items]
Debt instrument redemption price percentage						103.00%
Debt instrument, redemption price, percentage of principal amount redeemed						10.00%
4.75% Senior Secured Notes | Any time on or prior to April 15, 2024
Debt Instrument [Line Items]
Debt instrument redemption price percentage						104.75%
Debt instrument, redemption price, percentage of principal amount redeemed						40.00%
Senior Unsecured Notes - 7.125% Due December 15, 2024
Debt Instrument [Line Items]
Debt instrument amount			$ 600,000			$ 600,000		$ 600,000
Issuance senior notes, stated percentage			7.125%			7.125%		7.125%
Debt instrument, maturity date						Dec. 15, 2024		Dec. 15, 2024
6.50% Senior Unsecured Notes
Debt Instrument [Line Items]
Debt instrument amount			$ 1,110,000			$ 1,110,000
Issuance senior notes, stated percentage			6.50%			6.50%
Debt instrument, maturity date						Feb. 15, 2029
Debt instrument issued percent of principal amount						100.00%
Exchangeable Senior Notes - 4.00%, due June 15, 2024
Debt Instrument [Line Items]
Issuance senior notes, stated percentage			4.00%			4.00%
Debt instrument, maturity date						Jun. 15, 2024
Senior Unsecured Notes - 6.50%, Due February 24, 2029
Debt Instrument [Line Items]
Debt instrument amount										$ 1,110,000
Debt instrument redemption price percentage						100.00%
Debt instrument aggregate principal amount remaining outstanding						60.00%
Senior Unsecured Notes - 6.50%, Due February 24, 2029 | Redemption on or Prior to February 15, 2024
Debt Instrument [Line Items]
Debt instrument redemption price percentage						106.50%
Debt instrument, redemption price, percentage of principal amount redeemed						40.00%
Senior Unsecured Notes - 6.50%, Due February 24, 2029 | Redemption If Certain Changes of Control
Debt Instrument [Line Items]
Debt instrument redemption price percentage						101.00%
8.25% Senior Unsecured Notes
Debt Instrument [Line Items]
Debt instrument amount				$ 58,800				$ 1,110,000		$ 1,110,000
Issuance senior notes, stated percentage			8.25%			8.25%		8.25%		8.25%
Debt instrument, maturity date						Oct. 15, 2023		Oct. 15, 2023
Repayments of debt instrument	$ 58,800
Debt issuance cost				20,400
Cash interest expense for tender premium				17,600
Remaining unamortized discount and deferred finance costs	$ 1,100
8.25% Senior Unsecured Notes | Interest Expense
Debt Instrument [Line Items]
Loss on repayment of tendered notes				$ 38,000
4.750% Senior Secured Notes due 2028
Debt Instrument [Line Items]
Debt instrument amount									$ 570,000
Issuance senior notes, stated percentage									4.75%
Debt instrument, maturity year						2028
6.00% Senior Secured Notes
Debt Instrument [Line Items]
Issuance senior notes, stated percentage			6.00%			6.00%		6.00%
Debt instrument, maturity date						Apr. 15, 2023		Apr. 15, 2023
Repayments of debt instrument						$ 550,000
Debt issuance cost			$ 1,300			$ 1,300
Cash interest expense for tender premium			3,000
6.00% Senior Secured Notes | Interest Expense
Debt Instrument [Line Items]
Loss on repayment of tendered notes			4,300
Non Extended Revolving Credit Facility
Debt Instrument [Line Items]
Debt instrument amount		$ 60,500
Debt instrument, maturity date		Apr. 24, 2022
Non Extended Revolving Credit Facility | Maximum | Base Rate
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate						4.25%
Non Extended Revolving Credit Facility | Maximum | Eurodollar
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate						5.25%
Non Extended Revolving Credit Facility | Minimum | Base Rate
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate						3.75%
Non Extended Revolving Credit Facility | Minimum | Eurodollar
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate						4.75%
Extended Revolving Credit Facility
Debt Instrument [Line Items]
Debt instrument amount		$ 500,000
Debt instrument, maturity date		Dec. 10, 2024
Extended Revolving Credit Facility | Maximum | Base Rate
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate						3.50%
Extended Revolving Credit Facility | Maximum | Eurodollar
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate						4.50%
Extended Revolving Credit Facility | Minimum | Base Rate
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate						2.75%
Extended Revolving Credit Facility | Minimum | Eurodollar
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate						3.75%
Uniti Group LP, Uniti Group Finance 2019 Inc. and CSL Capital, LLC
Debt Instrument [Line Items]
Percentage of pay cash dividends in excess of taxable income						90.00%
Uniti Group LP, Uniti Group Finance 2019 Inc. and CSL Capital, LLC | Senior Secured Revolving Credit Facility
Debt Instrument [Line Items]
Debt instrument amount			95,000			$ 95,000
Uniti Group LP, Uniti Group Finance 2019 Inc. and CSL Capital, LLC | 7.875% Senior Secured Notes
Debt Instrument [Line Items]
Debt instrument amount			$ 2,250,000			$ 2,250,000
Issuance senior notes, stated percentage			7.875%			7.875%
Debt instrument, maturity year						2025
Net leverage ratio						5.75%
Uniti Group LP, Uniti Group Finance 2019 Inc. and CSL Capital, LLC | 4.75% Senior Secured Notes
Debt Instrument [Line Items]
Debt instrument amount			$ 570,000			$ 570,000
Issuance senior notes, stated percentage			4.75%			4.75%
Debt instrument, maturity year						2028
Debt instrument redemption price percentage						101.00%
Uniti Group LP, Uniti Group Finance 2019 Inc. and CSL Capital, LLC | Senior Unsecured Notes - 7.125% Due December 15, 2024
Debt Instrument [Line Items]
Debt instrument amount			$ 600,000			$ 600,000
Issuance senior notes, stated percentage			7.125%			7.125%
Debt instrument, maturity date						Dec. 15, 2024
Uniti Group LP, Uniti Group Finance 2019 Inc. and CSL Capital, LLC | 6.50% Senior Unsecured Notes
Debt Instrument [Line Items]
Debt instrument amount			$ 1,110,000			$ 1,110,000
Issuance senior notes, stated percentage			6.50%			6.50%
Debt instrument, maturity date						Feb. 15, 2029
Uniti Group LP, Uniti Group Finance 2019 Inc. and CSL Capital, LLC | Exchangeable Senior Notes - 4.00%, due June 15, 2024
Debt Instrument [Line Items]
Debt instrument amount			$ 345,000			$ 345,000
Issuance senior notes, stated percentage			4.00%			4.00%
Debt instrument, maturity date						Jun. 15, 2024
CSL Capital, LLC
Debt Instrument [Line Items]
Debt instrument, debt default, description of violation or event of default						In particular, a repayment obligation could be triggered if (i) the Borrowers or certain of their subsidiaries fail to make a payment when due of any principal or interest on any other indebtedness aggregating $75.0 million or more, or (ii) an event occurs that causes, or would permit the holders of any other indebtedness aggregating $75.0 million or more to cause, such indebtedness to become due prior to its stated maturity
Debt Instrument, debt default, amount			$ 75,000			$ 75,000
CSL Capital, LLC | Non Extended Revolving Credit Facility
Debt Instrument [Line Items]
Debt instrument amount			60,500			$ 60,500
Debt instrument, maturity date						Apr. 24, 2022
CSL Capital, LLC | Extended Revolving Credit Facility
Debt Instrument [Line Items]
Debt instrument amount			$ 500,000			$ 500,000
Debt instrument, maturity date						Dec. 10, 2024

Earnings Per Share - Schedule o

Earnings Per Share - Schedule of Earnings Per Share Basic and Diluted (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Numerator:
Net income (loss) attributable to shareholders	$ 48,907	$ (587,744)	$ 44,469	$ (666,597)
Less: Income allocated to participating securities	(333)	(424)	(581)	(624)
Dividends declared on convertible preferred stock	(2)	(1)	(5)	(4)
Net income (loss) attributable to common shareholders	$ 48,572	$ (588,169)	$ 43,883	$ (667,225)
Denominator:
Basic weighted-average common shares outstanding	231,801	192,479	231,636	192,358
Basic earnings (loss) per common share	$ 0.21	$ (3.06)	$ 0.19	$ (3.47)
Numerator:
Net income (loss) attributable to shareholders	$ 48,907	$ (587,744)	$ 44,469	$ (666,597)
Less: Income allocated to participating securities	(333)	(424)	(581)	(624)
Dividends declared on convertible preferred stock	(2)	(1)	(5)	(4)
Impact on if-converted dilutive securities	2,974
Net income (loss) attributable to common shares	$ 51,546	$ (588,169)	$ 43,883	$ (667,225)
Denominator:
Basic weighted-average common shares outstanding	231,801	192,479	231,636	192,358
Effect of dilutive non-participating securities	135		226
Impact on if-converted dilutive securities	30,332
Weighted-average shares for dilutive earnings per common share	262,268	192,479	231,862	192,358
Dilutive earnings (loss) per common share	$ 0.20	$ (3.06)	$ 0.19	$ (3.47)

Earnings Per Share - Additional

Earnings Per Share - Additional Information (Details) - Common Stock - shares	3 Months Ended	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Exchangeable Senior Notes - 4.00%, due June 15, 2024
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from the computation of diluted earnings per share	29,198,385	30,332,262	29,198,385
Non-Participating Securities
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from the computation of diluted earnings per share	730,863		730,863

Segment Information - Additiona

Segment Information - Additional Information (Details) - Segment	Jan. 01, 2021	Jun. 30, 2021	Dec. 31, 2020
Segment Reporting [Abstract]
Number of reportable business segments		4
Number of operating business segments	2		4

Segment Information - Schedule

Segment Information - Schedule of Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Segment Reporting Information [Line Items]
Revenues	$ 268,180	$ 266,820	$ 540,766	$ 532,982
Adjusted EBITDA	215,734	202,869	429,982	404,583
Interest expense	106,388	107,243	246,969	285,636
Depreciation and amortization	69,671	84,969	140,635	171,090
Other (income) expense, net	8,779	6,013	10,097	9,088
Settlement expense		650,000		650,000
Transaction related and other costs	424	18,556	4,561	34,528
Gain on sale of real estate	(442)	(63,818)	(442)	(63,818)
Gain on sale of operations	(28,143)		(28,143)
Stock-based compensation	3,462	4,110	6,797	7,105
Income tax expense (benefit)	5,084	(5,875)	2,527	(10,451)
Adjustments for equity in earnings from unconsolidated entities	872		1,844
Net income (loss)	49,639	(598,329)	45,137	(678,595)
Leasing
Segment Reporting Information [Line Items]
Revenues	196,057	185,320	390,993	369,672
Adjusted EBITDA	192,137	182,810	383,634	364,689
Depreciation and amortization	40,474	52,405	82,700	107,027
Fiber Infrastructure
Segment Reporting Information [Line Items]
Revenues	72,123	79,140	149,773	156,547
Adjusted EBITDA	29,439	28,493	59,160	56,034
Depreciation and amortization	29,132	32,279	57,802	62,340
Tower
Segment Reporting Information [Line Items]
Revenues		2,392		6,112
Adjusted EBITDA		85		77
Depreciation and amortization		14		783
Consumer CLEC
Segment Reporting Information [Line Items]
Revenues		(32)		651
Adjusted EBITDA		(292)		(275)
Depreciation and amortization		197		791
Corporate
Segment Reporting Information [Line Items]
Adjusted EBITDA	(5,842)	(8,227)	(12,812)	(15,942)
Depreciation and amortization	$ 65	$ 74	$ 133	$ 149

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2021USD ($)Installment	Dec. 31, 2020USD ($)
Commitments And Contingencies [Line Items]
Obligations under tax matters agreement	$ 0
Windstream
Commitments And Contingencies [Line Items]
Cash payment in equal installments emergence from bankruptcy	$ 490,100
Number of installments | Installment	20
First three quarterly cash payments to be made after emergence	$ 98,000
Agreement to invest growth capital improvements	1,750,000
Growth Capital Improvements except maintenance or repair expenditures and expenditures towards cost incurred for fiber replacements	70,000
Annual reimbursement commitment payments due year one through four	225,000
Annual reimbursement commitment payments, due year five	175,000
Annual reimbursement commitment payments, due year six	175,000
Annual reimbursement commitment payments, due year seven through nine	125,000
Growth capital improvements fund annual limit	250,000
Growth capital improvements funded during the period		$ 84,700
Growth capital improvements reimbursement amount	92,100
New lease, aggregate reimbursements made for certain growth capital improvements	28,500
Windstream | Other Assets
Commitments And Contingencies [Line Items]
Lease incentive	900
Windstream | Maximum
Commitments And Contingencies [Line Items]
Commitment amount	265,300
Separate Equipment Loan Facilities
Commitments And Contingencies [Line Items]
Annual reimbursement commitment payments due year one through four	225,000
Annual reimbursement commitment payments, due year five	175,000
Annual reimbursement commitment payments, due year six	175,000
Annual reimbursement commitment payments, due year seven through nine	$ 125,000

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive (Loss) Income - Schedule of Changes in Accumulated Other Comprehensive (Loss) Income by Component (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Accumulated Other Comprehensive Income Loss [Line Items]
Balance at beginning of period attributable to common shareholders			$ (2,141,658)
Balance at end of period attributable to common shareholders	$ (2,202,433)		(2,202,433)
Accumulated other comprehensive loss at end of period	(14,792)	$ (25,937)	(14,792)	$ (25,937)	$ (20,367)
Cash Flow Hedge Changes in Fair Value (Loss) Gain
Accumulated Other Comprehensive Income Loss [Line Items]
Balance at beginning of period attributable to common shareholders	(30,353)	(30,353)	(30,353)	(23,442)
Other comprehensive loss before reclassifications				(7,713)
Amounts reclassified from accumulated other comprehensive income				677
Balance at end of period	(30,353)	(30,353)	(30,353)	(30,478)
Less: Other comprehensive (loss) income attributable to noncontrolling interest				(125)
Balance at end of period attributable to common shareholders	(30,353)	(30,353)	(30,353)	(30,353)
Interest Rate Swap Termination
Accumulated Other Comprehensive Income Loss [Line Items]
Balance at beginning of period attributable to common shareholders	12,773	1,636	9,986
Amounts reclassified from accumulated other comprehensive income	2,829	2,830	5,658	4,496
Balance at end of period	15,602	4,466	15,644	4,496
Less: Other comprehensive (loss) income attributable to noncontrolling interest	41	50	83	80
Balance at end of period attributable to common shareholders	$ 15,561	$ 4,416	$ 15,561	$ 4,416