Uniti (UNIT) 10-Q 1 Aug 24 2024 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jun. 30, 2024	Jul. 24, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2024
Document Transition Report	false
Entity File Number	001-36708
Entity Registrant Name	Uniti Group Inc.
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	46-5230630
Entity Address, Address Line One	2101 Riverfront Drive, Suite A
Entity Address, City or Town	Little Rock
Entity Address, State or Province	AR
Entity Address, Postal Zip Code	72202
City Area Code	501
Local Phone Number	850-0820
Title of 12(b) Security	Common Stock
Trading Symbol	UNIT
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		244,150,946
Amendment Flag	false
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Entity Central Index Key	0001620280
Current Fiscal Year End Date	--12-31

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Assets:
Property, plant and equipment, net	$ 4,092,799	$ 3,982,069
Cash and cash equivalents	118,763	62,264
Restricted cash and cash equivalents	12,728	0
Accounts receivable, net	56,654	46,358
Goodwill	157,380	157,380
Intangible assets, net	290,264	305,115
Straight-line revenue receivable	101,710	90,988
Operating lease right-of-use assets, net	128,837	125,105
Derivative asset	1,616	0
Other assets	40,699	118,117
Deferred income tax assets, net	117,780	109,128
Assets held for sale	0	28,605
Total Assets	5,119,230	5,025,129
Liabilities:
Accounts payable, accrued expenses and other liabilities	87,105	119,340
Settlement payable (Note 12)	118,232	163,583
Intangible liabilities, net	151,050	156,397
Accrued interest payable	142,227	133,683
Deferred revenue	1,242,165	1,273,661
Dividends payable	1,134	36,162
Operating lease liabilities	79,812	84,404
Finance lease obligations	18,110	18,110
Notes and other debt, net	5,771,809	5,523,579
Liabilities held for sale	0	331
Total liabilities	7,611,644	7,509,250
Commitments and contingencies (Note 12)
Shareholders' Deficit:
Preferred stock, $0.0001 par value, 50,000 shares authorized; no shares issued and outstanding	0	0
Common stock, $0.0001 par value, 500,000 shares authorized; issued and outstanding: 237,353 shares at June 30, 2024 and 236,559 at December 31, 2023	24	24
Additional paid-in capital	1,228,527	1,221,824
Accumulated other comprehensive income	136	0
Distributions in excess of accumulated earnings	(3,722,066)	(3,708,240)
Total Uniti shareholders' deficit	(2,493,379)	(2,486,392)
Noncontrolling interests:
Operating partnership units	715	2,021
Cumulative non-voting convertible preferred stock, $0.01 par value, 6 shares authorized, 3 issued and outstanding	250	250
Total shareholders' deficit	(2,492,414)	(2,484,121)
Total Liabilities and Shareholders' Deficit	$ 5,119,230	$ 5,025,129

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Preferred stock, shares authorized (in shares)	50,000,000	50,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	500,000,000	500,000,000
Common stock, shares issued (in shares)	237,353,000	236,559,000
Common stock, shares outstanding (in shares)	237,353,000	236,559,000
Cumulative non-voting convertible preferred stock par value (in dollars per share)	$ 0.01	$ 0.01
Cumulative non-voting convertible preferred shares authorized (in shares)	6,000	6,000
Cumulative non-voting convertible preferred shares issued (in shares)	3,000	3,000
Cumulative non-voting convertible preferred shares outstanding (in shares)	3,000	3,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Revenues:
Total revenue from rentals	$ 229,303	$ 223,852	$ 457,459	$ 455,771
Total service revenues	65,644	59,846	123,906	117,749
Total revenues	294,947	283,698	581,365	573,520
Costs and Expenses:
Interest expense, net	127,475	119,689	250,686	268,552
Depreciation and amortization	78,052	77,267	155,537	154,042
General and administrative expense	25,716	23,417	53,849	51,850
Operating expense (exclusive of depreciation and amortization)	37,036	37,418	72,234	72,486
Transaction related and other costs	10,977	5,576	16,664	8,364
Gain on sale of real estate	0	0	(18,999)	0
Other (income) expense, net	(19)	(291)	(301)	19,888
Total costs and expenses	279,237	263,076	529,670	575,182
Income (loss) before income taxes and equity in earnings from unconsolidated entities	15,710	20,622	51,695	(1,662)
Income tax benefit	(2,571)	(4,357)	(7,934)	(6,769)
Equity in earnings of unconsolidated entities	0	(659)	0	(1,320)
Net income	18,281	25,638	59,629	6,427
Net income attributable to noncontrolling interests	3	12	22	3
Net income attributable to shareholders	18,278	25,626	59,607	6,424
Participating securities' share in earnings	(723)	(322)	(1,159)	(569)
Dividends declared on convertible preferred stock	(5)	(5)	(10)	(10)
Net income attributable to common shareholders	$ 17,550	$ 25,299	$ 58,438	$ 5,845
Income per common share:
Basic (in dollars per share)	$ 0.07	$ 0.11	$ 0.25	$ 0.02
Diluted (in dollars per share)	$ 0.07	$ 0.11	$ 0.25	$ 0.02
Weighted-average number of common shares outstanding:
Basic (in shares)	237,347	236,429	237,121	236,260
Diluted (in shares)	237,347	236,429	237,121	236,260
Uniti Leasing
Revenues:
Total revenue from rentals	$ 216,640	$ 210,345	$ 432,633	$ 419,987
Total service revenues	1,646	2,108	3,274	3,274
Uniti Fiber
Revenues:
Total revenue from rentals	12,663	13,507	24,826	35,784
Total service revenues	$ 63,998	$ 57,738	$ 120,632	$ 114,475

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Statement of Comprehensive Income [Abstract]
Net income	$ 18,281	$ 25,638	$ 59,629	$ 6,427
Other comprehensive income:
Unrealized gain on valuation of interest rate cap	529	0	173	0
Interest rate cap amortization	(226)	0	(37)	0
Other comprehensive income	303	0	136	0
Comprehensive income	18,584	25,638	59,765	6,427
Comprehensive income attributable to noncontrolling interest	3	12	22	3
Comprehensive income attributable to shareholders	$ 18,581	$ 25,626	$ 59,743	$ 6,424

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Shareholders' Deficit - USD ($) $ in Thousands	Total	Preferred Stock	Common Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Income (Loss)	Distributions in Excess of Accumulated Earnings	Noncontrolling Interest - OP Units	Noncontrolling Interest - Non- voting Preferred Shares
Beginning balance (in shares) at Dec. 31, 2022		0
Beginning balance (in shares) at Dec. 31, 2022			235,829,485,000
Beginning balance at Dec. 31, 2022	$ (2,271,206)	$ 0	$ 24	$ 1,210,033	$ 0	$ (3,483,634)	$ 2,121	$ 250
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	6,427					6,424	3
Other comprehensive income	0
Common stock dividends declared	(71,660)					(71,660)
Distributions to noncontrolling interest declared	(32)						(32)
Payments for settlement of common stock warrant	(56)			(56)
Termination of bond hedge option	59			59
Payments related to tax withholding for stock-based compensation	(1,350)			(1,350)
Stock-based compensation (in shares)			534,363,000
Stock-based compensation	6,260			6,260
Issuance of common stock - employee stock purchase plan (in shares)			66,904,000
Issuance of common stock - employee stock purchase plan	314			314
Ending balance (in shares) at Jun. 30, 2023		0
Ending balance (in shares) at Jun. 30, 2023			236,430,752,000
Ending balance at Jun. 30, 2023	(2,331,244)	$ 0	$ 24	1,215,260	0	(3,548,870)	2,092	250
Beginning balance (in shares) at Mar. 31, 2023		0
Beginning balance (in shares) at Mar. 31, 2023			236,427,250,000
Beginning balance at Mar. 31, 2023	(2,324,175)	$ 0	$ 24	1,212,137	0	(3,538,683)	2,097	250
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	25,638					25,626	12
Other comprehensive income	0
Common stock dividends declared	(35,813)					(35,813)
Distributions to noncontrolling interest declared	(17)						(17)
Payments related to tax withholding for stock-based compensation	(7)			(7)
Stock-based compensation (in shares)			3,502,000
Stock-based compensation	3,130			3,130
Ending balance (in shares) at Jun. 30, 2023		0
Ending balance (in shares) at Jun. 30, 2023			236,430,752,000
Ending balance at Jun. 30, 2023	$ (2,331,244)	$ 0	$ 24	1,215,260	0	(3,548,870)	2,092	250
Beginning balance (in shares) at Dec. 31, 2023	0	0
Beginning balance (in shares) at Dec. 31, 2023			236,558,601,000
Beginning balance at Dec. 31, 2023	$ (2,484,121)	$ 0	$ 24	1,221,824	0	(3,708,240)	2,021	250
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	59,629					59,607	22
Other comprehensive income	136				136
Common stock dividends declared	(73,433)					(73,433)
Distributions to noncontrolling interest declared	(21)						(21)
Exchange of noncontrolling interest (in shares)			53,662,000
Exchange of noncontrolling interest	(92)			1,215			(1,307)
Payments related to tax withholding for stock-based compensation	(1,583)			(1,583)
Stock-based compensation (in shares)			657,800,000
Stock-based compensation	6,745			6,745
Issuance of common stock - employee stock purchase plan (in shares)			83,047,000
Issuance of common stock - employee stock purchase plan	$ 326			326
Ending balance (in shares) at Jun. 30, 2024	0	0
Ending balance (in shares) at Jun. 30, 2024			237,353,110,000
Ending balance at Jun. 30, 2024	$ (2,492,414)	$ 0	$ 24	1,228,527	136	(3,722,066)	715	250
Beginning balance (in shares) at Mar. 31, 2024		0
Beginning balance (in shares) at Mar. 31, 2024			237,308,699,000
Beginning balance at Mar. 31, 2024	(2,477,483)	$ 0	$ 24	1,223,983	(167)	(3,703,597)	2,024	250
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	18,281					18,278	3
Other comprehensive income	303				303
Common stock dividends declared	(36,747)					(36,747)
Distributions to noncontrolling interest declared	(5)						(5)
Exchange of noncontrolling interest (in shares)			53,662,000
Exchange of noncontrolling interest	(92)			1,215			(1,307)
Payments related to tax withholding for stock-based compensation	(68)			(68)
Stock-based compensation (in shares)			(9,251,000)
Stock-based compensation	$ 3,397			3,397
Ending balance (in shares) at Jun. 30, 2024	0	0
Ending balance (in shares) at Jun. 30, 2024			237,353,110,000
Ending balance at Jun. 30, 2024	$ (2,492,414)	$ 0	$ 24	$ 1,228,527	$ 136	$ (3,722,066)	$ 715	$ 250

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Shareholders' Deficit (Parenthetical) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Statement of Stockholders' Equity [Abstract]
Common stock dividends declared per share (in dollars per share)	$ 0.15	$ 0.15	$ 0.30	$ 0.30

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Cash flow from operating activities
Net income	$ 59,629	$ 6,427
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	155,537	154,042
Amortization of deferred financing costs and debt discount	10,950	9,454
Loss on extinguishment of debt, net	0	31,187
Interest rate cap amortization	720	0
Deferred income taxes	(8,652)	(8,046)
Equity in earnings of unconsolidated entities	0	(1,320)
Distributions of cumulative earnings from unconsolidated entities	0	1,969
Cash paid for interest rate cap	(2,200)	0
Straight-line revenues and amortization of below-market lease intangibles	(17,038)	(19,216)
Stock-based compensation	6,745	6,260
Loss (gain) on asset disposals	294	(172)
Gain on sale of real estate	18,999	0
Accretion of settlement obligation	3,660	5,776
Other	(48)	0
Changes in assets and liabilities:
Accounts receivable	(10,296)	(391)
Other assets	7,264	967
Accounts payable, accrued expenses and other liabilities	(13,228)	12,894
Net cash provided by operating activities	174,338	199,831
Cash flow from investing activities
Capital expenditures	(262,758)	(247,269)
Proceeds from sale of other equipment	435	1,169
Proceeds from sale of real estate	40,039	0
Proceeds from sale of unconsolidated entity	40,000	0
Net cash used in investing activities	(182,284)	(246,100)
Cash flow from financing activities
Repayment of debt	(122,942)	(2,263,662)
Proceeds from issuance of notes	309,000	2,600,000
Dividends paid	(108,445)	(71,594)
Payments of settlement payable	(49,011)	(49,011)
Borrowings under revolving credit facility	125,000	245,000
Payments under revolving credit facility	(333,000)	(347,000)
Proceeds from ABS Loan Facility	275,000	0
Finance lease payments	(1,265)	(799)
Payments for financing costs	(15,778)	(26,955)
Payment for settlement of common stock warrant	0	(56)
Termination of bond hedge option	0	59
Costs related to the early repayment of debt	0	(44,303)
Distributions paid to noncontrolling interests	(37)	(32)
Payment for noncontrolling interest	(92)	0
Employee stock purchase program	326	314
Payments related to tax withholding for stock-based compensation	(1,583)	(1,350)
Net cash provided by financing activities	77,173	40,611
Net increase (decrease) in cash, restricted cash and cash equivalents	69,227	(5,658)
Cash, restricted cash and cash equivalents at beginning of period	62,264	43,803
Cash, restricted cash and cash equivalents at end of period	131,491	38,145
Non-cash investing and financing activities:
Property and equipment acquired but not yet paid	7,074	14,708
Tenant capital improvements	$ 94,049	$ 78,473

Organization and Description of

Organization and Description of Business	6 Months Ended
	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Description of Business	Organization and Description of Business Uniti Group Inc. (the “Company,” “Uniti,” “we,” “us,” or “our”) was incorporated in the state of Maryland on September 4, 2014. We are an independent internally managed real estate investment trust (“REIT”) engaged in the acquisition, construction and leasing of mission critical infrastructure in the communications industry. We are principally focused on acquiring and constructing fiber optic, copper and coaxial broadband networks and data centers. We manage our operations focused on our two primary lines of business: Uniti Fiber and Uniti Leasing. The Company operates through a customary “up-REIT” structure, pursuant to which we hold substantially all of our assets through a partnership, Uniti Group LP, a Delaware limited partnership (the “Operating Partnership”) that we control as general partner. The up-REIT structure is intended to facilitate future acquisition opportunities by providing the Company with the ability to use common units of the Operating Partnership as a tax-efficient acquisition currency. As of June 30, 2024, we are the sole general partner of the Operating Partnership and own approximately 99.98% of the partnership interests in the Operating Partnership. Our Proposed Merger with Windstream On May 3, 2024, the Company entered into an Agreement and Plan of Merger with Windstream Holdings II, LLC (the “Merger Agreement”) providing for a combination of the Company and Windstream Holdings, Inc. (together with Windstream Holdings II, LLC, its successor in interest, and its subsidiaries, “Windstream”) such that, following a pre-closing reorganization of Windstream and the merger of the Company into an entity formed in such reorganization (the "Merger"), both the Company and Windstream will be indirect wholly owned subsidiaries of a recently formed company that in the reorganization will become the parent company of Windstream (“New Uniti”). Following the Merger, the common stock of New Uniti (“New Uniti Common Stock”) is expected to be listed on the Nasdaq. The Merger intends to reunite Windstream’s business with the underlying fiber infrastructure owned by the Company to create a premier digital infrastructure company with a strong platform for value creation. Upon consummation of our Merger with Windstream, the board of directors of New Uniti will initially comprise nine members, including five directors to be appointed by Uniti. It is expected that Uniti’s existing officers will serve as initial officers of New Uniti. At the effective time of the Merger, each share of Uniti’s common stock that is issued and outstanding will automatically be cancelled and retired and converted into the right to a number of shares of New Uniti Common Stock pursuant to an exchange ratio set forth in the Merger Agreement such that the Company's and Windstream's stockholders are expected to hold approximately 62% and 38%, respectively, of the combined company before giving effect to the conversion of any outstanding convertible securities or the issuance of warrants to purchase New Uniti Common Stock referenced below. In addition, at the closing of the Merger, we will fund an aggregate cash payment of $425 million (less certain transaction expenses) that will be distributed to Windstream equityholders on a pro-rata basis (the “Merger Cash Consideration”). Windstream equityholders will also be entitled to pro rata distributions of (i) new shares of non-voting preferred stock of New Uniti with a dividend rate of 11% per year for the first six years, subject to an additional 0.5% per year during each of the seven eight Our Merger with Windstream is subject to customary closing conditions, including, among others, approval by our stockholders and receipt of required regulatory approvals, including the expiration or early termination of the waiting period under the Hart-Scott Rodino Antitrust Improvements Act of 1976 and the receipt of approvals from the Federal Communications Commission and certain state public utility commissions. We currently expect our Merger with Windstream to close in 2025. The foregoing summary of the Merger Agreement and the transactions contemplated thereby does not purport to be complete and is qualified in its entirety by reference to the terms and conditions of the Merger Agreement, a copy of which is attached as Exhibit 2.1 to the Company’s Current Report on Form 8-K, filed on May 3, 2024. Upon consummation of the Merger, New Uniti will become an integrated telecommunications company. Initially, the legacy Uniti and Windstream organizational structures will remain separate, and the existing agreements and arrangements presently in effect between Uniti and Windstream, such as the Windstream Leases and the settlement agreement with Windstream, which requires Uniti to fund periodic settlement payments and reimburse Windstream for certain growth capital improvements, will remain in place. In addition, we have agreed to suspend dividend payments or other distributions until the consummation of the Merger, except for the dividend paid on June 28, 2024 and those dividends reasonably required for us or our subsidiaries to maintain our status as a REIT or to avoid the payment or imposition of income or excise tax, among other customary exceptions. All Windstream debt obligations are expected to remain obligations of Windstream and our debt obligations are expected to remain as ours, with no cross-guarantees or credit support between the Company and Windstream. Finally, it is expected that, following consummation of the Merger, Uniti will cease to be a REIT for U.S. federal income tax purposes.

Basis of Presentation and Summa

Basis of Presentation and Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
Basis of Presentation and Summary of Significant Accounting Policies	Basis of Presentation and Summary of Significant Accounting Policies The accompanying Condensed Consolidated Financial Statements include all accounts of the Company and its wholly-owned and/or controlled subsidiaries, including the Operating Partnership. Under the Accounting Standards Codification 810, Consolidation (“ASC 810”), the Operating Partnership is considered a variable interest entity and is consolidated in the Condensed Consolidated Financial Statements of Uniti Group Inc. because the Company is the primary beneficiary. All material intercompany balances and transactions have been eliminated. ASC 810 provides guidance on the identification of entities for which control is achieved through means other than voting rights (“variable interest entities” or “VIEs”) and the determination of which business enterprise, if any, should consolidate the VIEs. Generally, the consideration of whether an entity is a VIE applies when either: (1) the equity investors (if any) lack (i) the ability to make decisions about the entity’s activities through voting or similar rights, (ii) the obligation to absorb the expected losses of the entity, or (iii) the right to receive the expected residual returns of the entity; (2) the equity investment at risk is insufficient to finance that entity’s activities without additional subordinated financial support; or (3) the equity investors have voting rights that are not proportionate to their economic interests and substantially all of the activities of the entity involve or are conducted on behalf of an investor with a disproportionately small voting interest. The Company consolidates VIEs in which it is considered to be the primary beneficiary. The primary beneficiary is defined as the entity having both of the following characteristics: (1) the power to direct the activities that, when taken together, most significantly impact the VIE’s performance; and (2) the obligation to absorb losses and right to receive the returns from the VIE that would be significant to the VIE. The accompanying Condensed Consolidated Financial Statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information set forth in the Accounting Standards Codification (“ASC”), as published by the Financial Accounting Standards Board (“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 February 29, 2024 , as amended by Amendment No. 1 and Amendment No. 2 thereto filed on Form 10-K/A with the SEC on March 26, 2024 and March 27, 2024 , respectively (the “Annual Report”). Accordingly, significant accounting policies and other disclosures normally provided have been omitted from the accompanying Condensed Consolidated Financial Statements and related notes since such items are disclosed in our Annual Report. Restricted Cash and Cash Equivalents —Restricted cash and cash equivalents represent funds that are restricted for an obligation under the ABS Loan Facility (as defined in Note 9 ) to maintain three months of interest and other expenses. The following table provides a reconciliation of cash and cash equivalents and restricted cash and cash equivalents within the Condensed Consolidated Balance Sheets to the total cash and cash equivalents and restricted cash and cash equivalents within the Condensed Consolidated Statements of Cash Flows. (Thousands) June 30, 2024 December 31, 2023 Cash and cash equivalents $ 118,763 $ 62,264 Restricted cash and cash equivalents 12,728 — Cash, restricted cash and cash equivalents at end of period $ 131,491 $ 62,264 Concentration of Credit Risks —Prior to September 2020, we were party to a long-term exclusive triple-net lease (the “Master Lease”) with Windstream pursuant to which a substantial portion of our real property was leased to Windstream and from which a substantial portion of our leasing revenues were derived. On September 18, 2020, Uniti and Windstream bifurcated the Master Lease and entered into two structurally similar master leases (collectively, the “Windstream Leases”), which amended and restated the Master Lease in its entirety. The Windstream Leases consist of (a) a master lease (the "ILEC MLA") that governs Uniti owned assets used for Windstream's incumbent local exchange carrier ("ILEC") operations and (b) a master lease (the "CLEC MLA") that governs Uniti owned assets used for Windstream's consumer competitive local exchange carrier ("CLEC") operations. Revenue under the Windstream Leases provided 68.1% and 66.9% of our revenue for the six months ended June 30, 2024 and 2023, respectively. Because a substantial portion of our revenue and cash flows are derived from lease payments by Windstream pursuant to the Windstream Leases, there could be a material adverse impact on our consolidated results of operations, liquidity, financial condition and/or ability to pay dividends and service debt if Windstream were to default under the Windstream Leases or otherwise experiences operating or liquidity difficulties and becomes unable to generate sufficient cash to make payments to us. We monitor the credit quality of Windstream through numerous methods, including by (i) reviewing credit ratings of Windstream by nationally recognized credit agencies, (ii) reviewing the financial statements of Windstream that are required to be delivered to us pursuant to the Windstream Leases, (iii) monitoring news reports regarding Windstream and its business, (iv) conducting research to ascertain industry trends potentially affecting Windstream, (v) monitoring Windstream’s compliance with the terms of the Windstream Leases and (vi) monitoring the timeliness of its payments under the Windstream Leases. As of the date of this Quarterly Report on Form 10-Q, Windstream is current on all lease payments. We note that in August 2020, Moody’s Investor Service assigned a B3 corporate family rating with a stable outlook to Windstream in connection with its post-emergence exit financing. At the same time, S&P Global Ratings assigned Windstream a B- issuer rating with a stable outlook. Both ratings remain current as of the date of this filing. In order to assist us in our continuing assessment of Windstream’s creditworthiness, we periodically receive certain confidential financial information and metrics from Windstream. Recently Issued Accounting Pronouncements Not Yet Adopted In November 2023, the FASB issued Accounting Standards Update ("ASU") 2023-07, Segment Reporting—Improvements to Reportable Segment Disclosures ("ASU 2023-07"), which requires incremental disclosures related to reportable segments. Specifically, the ASU requires disclosure of significant segment expense categories and amounts for each reportable segment. The ASU is effective for fiscal years beginning after December 15, 2023, and interim periods in fiscal years beginning after December 15, 2024, with early adoption permitted. The Company is currently evaluating this guidance to determine the impact it will have on our financial statements.

Revenues

Revenues	6 Months Ended
	Jun. 30, 2024
Revenue from Contract with Customer [Abstract]
Revenues	Revenues Disaggregation of Revenue The following table presents our revenues disaggregated by revenue stream. Three Months Ended Six Months Ended (Thousands) 2024 2023 2024 2023 Revenue disaggregated by revenue stream Revenue from contracts with customers Uniti Fiber Lit backhaul $ 22,645 $ 19,453 $ 40,367 $ 38,975 Enterprise and wholesale 24,327 23,410 51,220 45,986 E-Rate and government 16,174 14,145 27,318 28,036 Other 852 730 1,727 1,478 Uniti Fiber $ 63,998 $ 57,738 $ 120,632 $ 114,475 Uniti Leasing 1,646 2,108 3,274 3,274 Total revenue from contracts with customers 65,644 59,846 123,906 117,749 Revenue accounted for under leasing guidance Uniti Leasing 216,640 210,345 432,633 419,987 Uniti Fiber 12,663 13,507 24,826 35,784 Total revenue accounted for under leasing guidance 229,303 223,852 457,459 455,771 Total revenue $ 294,947 $ 283,698 $ 581,365 $ 573,520 At June 30, 2024 and December 31, 2023, lease receivables were $24.5 million and $22.0 million, respectively, and receivables from contracts with customers were $28.5 million and $18.8 million, respectively. Contract Assets (Unbilled Revenue) and Liabilities (Deferred Revenue) Contract assets primarily consist of unbilled construction revenue where we are utilizing our costs incurred as the measure of progress of satisfying our performance obligation. Contract assets are reported within accounts receivable, net on our Condensed Consolidated Balance Sheets. When the contract price is invoiced, the related unbilled receivable is reclassified to trade accounts receivable, where the balance will be settled upon the collection of the invoiced amount. Contract liabilities are generally comprised of upfront fees charged to the customer for the cost of establishing the necessary components of the Company’s network prior to the commencement of use by the customer. Fees charged to customers for the recurring use of the Company’s network are recognized during the related periods of service. Upfront fees that are billed in advance of providing services are deferred until such time the customer accepts the Company’s network and then are recognized as service revenues ratably over a period in which substantive services required under the revenue arrangement are expected to be performed, which is the initial term of the arrangement. During the three and six months ended June 30, 2024, we recognized revenues of $1.3 million and $2.6 million, respectively, which were included in the December 31, 2023 contract liabilities balance. The following table provides information about contract assets and contract liabilities accounted for under ASC 606. (Thousands) Contract Assets Contract Liabilities Balance at December 31, 2023 $ 26 $ 11,109 Balance at June 30, 2024 $ 138 $ 9,780 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, 2024, our future revenues (i.e., transaction price related to remaining performance obligations) under contract accounted for under ASC 606 totaled $624.9 million, of which $552.2 million is related to contracts that are currently being invoiced and have an average remaining contract term of 3.2 years, while $72.7 million represents our backlog for sales bookings which have yet to be installed and have an average contract term of 5.3 years. We do not disclose the value of unsatisfied performance obligations for contracts that have an original expected duration of one year or less.

Leases

Leases	6 Months Ended
	Jun. 30, 2024
Leases [Abstract]
Leases	Leases Lessor Accounting We lease communications towers, ground space, colocation space and dark fiber to tenants under operating leases. Our leases have initial lease terms ranging from less than one year to 35 years, most of which include options to extend or renew the leases for less than one year to 20 years (based on the satisfaction of certain conditions as defined in the lease agreements), and some of which may include options to terminate the leases within one . Certain lease agreements contain provisions for future rent increases. Payments due under the lease contracts include fixed payments plus, for some of our leases, variable payments. The components of lease income for the three and six months ended June 30, 2024 and 2023 respectively, are as follows: Three Months Ended June 30, Six Months Ended June 30, (Thousands) 2024 2023 2024 2023 Lease income - operating leases $ 229,303 $ 223,852 $ 457,459 $ 455,771 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, 2024 are as follows: (Thousands) June 30, 2024⁽¹⁾ 2024 $ 404,320 2025 828,753 2026 833,638 2027 834,405 2028 834,714 Thereafter 1,562,050 Total lease receivables $ 5,297,880 (1) Total future minimum lease payments to be received include $4.5 billion relating to the Windstream Leases. The underlying assets under operating leases where we are the lessor are summarized as follows: (Thousands) June 30, 2024 December 31, 2023 Land $ 26,518 $ 26,533 Building and improvements 348,550 347,700 Poles 326,387 314,488 Fiber 4,034,889 3,862,635 Equipment 437 436 Copper 3,973,190 3,974,410 Conduit 90,116 90,087 Tower assets 58 58 Finance lease assets 1,890 1,890 Other assets 10,434 10,434 8,812,469 8,628,671 Less: accumulated depreciation (5,770,081) (5,690,066) Underlying assets under operating leases, net $ 3,042,388 $ 2,938,605 Depreciation expense for the underlying assets under operating leases where we are the lessor for the three and six months ended June 30, 2024 and 2023 , respectively, is summarized as follows: Three Months Ended June 30, Six Months Ended June 30, (Thousands) 2024 2023 2024 2023 Depreciation expense for underlying assets under operating leases $ 45,643 $ 45,639 $ 91,648 $ 90,845 Lessee Accounting We have commitments under operating leases for communications towers, ground space, colocation space, dark fiber and buildings. We also have finance leases for dark fiber and automobiles. Our leases have initial lease terms ranging from less than one year to 30 years, most of which include options to extend or renew the leases for less than one year to 20 years , and some of which may include options to terminate the leases within one . Certain lease agreements contain provisions for future rent increases. Payments due under the lease contracts include fixed payments plus, for some of our leases, variable payments. As of June 30, 2024, we have short term lease commitments amounting to approximately $4.1 million. Future lease payments under non-cancellable leases as of June 30, 2024 are as follows: (Thousands) Operating Leases Finance Leases 2024 $ 8,502 $ 2,002 2025 16,850 4,003 2026 13,406 3,878 2027 10,651 3,171 2028 9,022 2,453 Thereafter 100,231 9,830 Total undiscounted lease payments $ 158,662 $ 25,337 Less: imputed interest (78,850) (7,227) Total lease liabilities $ 79,812 $ 18,110
Leases	Leases Lessor Accounting We lease communications towers, ground space, colocation space and dark fiber to tenants under operating leases. Our leases have initial lease terms ranging from less than one year to 35 years, most of which include options to extend or renew the leases for less than one year to 20 years (based on the satisfaction of certain conditions as defined in the lease agreements), and some of which may include options to terminate the leases within one . Certain lease agreements contain provisions for future rent increases. Payments due under the lease contracts include fixed payments plus, for some of our leases, variable payments. The components of lease income for the three and six months ended June 30, 2024 and 2023 respectively, are as follows: Three Months Ended June 30, Six Months Ended June 30, (Thousands) 2024 2023 2024 2023 Lease income - operating leases $ 229,303 $ 223,852 $ 457,459 $ 455,771 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, 2024 are as follows: (Thousands) June 30, 2024⁽¹⁾ 2024 $ 404,320 2025 828,753 2026 833,638 2027 834,405 2028 834,714 Thereafter 1,562,050 Total lease receivables $ 5,297,880 (1) Total future minimum lease payments to be received include $4.5 billion relating to the Windstream Leases. The underlying assets under operating leases where we are the lessor are summarized as follows: (Thousands) June 30, 2024 December 31, 2023 Land $ 26,518 $ 26,533 Building and improvements 348,550 347,700 Poles 326,387 314,488 Fiber 4,034,889 3,862,635 Equipment 437 436 Copper 3,973,190 3,974,410 Conduit 90,116 90,087 Tower assets 58 58 Finance lease assets 1,890 1,890 Other assets 10,434 10,434 8,812,469 8,628,671 Less: accumulated depreciation (5,770,081) (5,690,066) Underlying assets under operating leases, net $ 3,042,388 $ 2,938,605 Depreciation expense for the underlying assets under operating leases where we are the lessor for the three and six months ended June 30, 2024 and 2023 , respectively, is summarized as follows: Three Months Ended June 30, Six Months Ended June 30, (Thousands) 2024 2023 2024 2023 Depreciation expense for underlying assets under operating leases $ 45,643 $ 45,639 $ 91,648 $ 90,845 Lessee Accounting We have commitments under operating leases for communications towers, ground space, colocation space, dark fiber and buildings. We also have finance leases for dark fiber and automobiles. Our leases have initial lease terms ranging from less than one year to 30 years, most of which include options to extend or renew the leases for less than one year to 20 years , and some of which may include options to terminate the leases within one . Certain lease agreements contain provisions for future rent increases. Payments due under the lease contracts include fixed payments plus, for some of our leases, variable payments. As of June 30, 2024, we have short term lease commitments amounting to approximately $4.1 million. Future lease payments under non-cancellable leases as of June 30, 2024 are as follows: (Thousands) Operating Leases Finance Leases 2024 $ 8,502 $ 2,002 2025 16,850 4,003 2026 13,406 3,878 2027 10,651 3,171 2028 9,022 2,453 Thereafter 100,231 9,830 Total undiscounted lease payments $ 158,662 $ 25,337 Less: imputed interest (78,850) (7,227) Total lease liabilities $ 79,812 $ 18,110
Leases	Leases Lessor Accounting We lease communications towers, ground space, colocation space and dark fiber to tenants under operating leases. Our leases have initial lease terms ranging from less than one year to 35 years, most of which include options to extend or renew the leases for less than one year to 20 years (based on the satisfaction of certain conditions as defined in the lease agreements), and some of which may include options to terminate the leases within one . Certain lease agreements contain provisions for future rent increases. Payments due under the lease contracts include fixed payments plus, for some of our leases, variable payments. The components of lease income for the three and six months ended June 30, 2024 and 2023 respectively, are as follows: Three Months Ended June 30, Six Months Ended June 30, (Thousands) 2024 2023 2024 2023 Lease income - operating leases $ 229,303 $ 223,852 $ 457,459 $ 455,771 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, 2024 are as follows: (Thousands) June 30, 2024⁽¹⁾ 2024 $ 404,320 2025 828,753 2026 833,638 2027 834,405 2028 834,714 Thereafter 1,562,050 Total lease receivables $ 5,297,880 (1) Total future minimum lease payments to be received include $4.5 billion relating to the Windstream Leases. The underlying assets under operating leases where we are the lessor are summarized as follows: (Thousands) June 30, 2024 December 31, 2023 Land $ 26,518 $ 26,533 Building and improvements 348,550 347,700 Poles 326,387 314,488 Fiber 4,034,889 3,862,635 Equipment 437 436 Copper 3,973,190 3,974,410 Conduit 90,116 90,087 Tower assets 58 58 Finance lease assets 1,890 1,890 Other assets 10,434 10,434 8,812,469 8,628,671 Less: accumulated depreciation (5,770,081) (5,690,066) Underlying assets under operating leases, net $ 3,042,388 $ 2,938,605 Depreciation expense for the underlying assets under operating leases where we are the lessor for the three and six months ended June 30, 2024 and 2023 , respectively, is summarized as follows: Three Months Ended June 30, Six Months Ended June 30, (Thousands) 2024 2023 2024 2023 Depreciation expense for underlying assets under operating leases $ 45,643 $ 45,639 $ 91,648 $ 90,845 Lessee Accounting We have commitments under operating leases for communications towers, ground space, colocation space, dark fiber and buildings. We also have finance leases for dark fiber and automobiles. Our leases have initial lease terms ranging from less than one year to 30 years, most of which include options to extend or renew the leases for less than one year to 20 years , and some of which may include options to terminate the leases within one . Certain lease agreements contain provisions for future rent increases. Payments due under the lease contracts include fixed payments plus, for some of our leases, variable payments. As of June 30, 2024, we have short term lease commitments amounting to approximately $4.1 million. Future lease payments under non-cancellable leases as of June 30, 2024 are as follows: (Thousands) Operating Leases Finance Leases 2024 $ 8,502 $ 2,002 2025 16,850 4,003 2026 13,406 3,878 2027 10,651 3,171 2028 9,022 2,453 Thereafter 100,231 9,830 Total undiscounted lease payments $ 158,662 $ 25,337 Less: imputed interest (78,850) (7,227) Total lease liabilities $ 79,812 $ 18,110

Fair Value of Financial Instrum

Fair Value of Financial Instruments	6 Months Ended
	Jun. 30, 2024
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	Fair Value of Financial Instruments FASB ASC 820, Fair Value Measurements , establishes a hierarchy of valuation techniques based on the observability of inputs utilized in measuring assets and liabilities at fair values. This hierarchy establishes market-based or observable inputs as the preferred source of values, followed by valuation models using management assumptions in the absence of market inputs. The three levels of the hierarchy are as follows: Level 1 – Quoted prices (unadjusted) in active markets for identical assets or liabilities that the reporting entity can access at the assessment date; Level 2 – Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly; and Level 3 – Unobservable inputs for the asset or liability. Our financial instruments consist of cash and cash equivalents, accounts and other receivables, our outstanding notes and other debt, settlement payable, interest and dividends payable. The following table summarizes the fair value of our financial instruments at June 30, 2024 and December 31, 2023: (Thousands) Total Quoted Prices in Active Markets (Level 1) Prices with Other Observable Inputs (Level 2) Prices with Unobservable At June 30, 2024 Assets Derivative asset $ 1,616 $ — $ 1,616 $ — Total $ 1,616 $ — $ 1,616 $ — Liabilities Senior secured notes - 10.50%, due February 15, 2028 (see Note 9) $ 2,809,315 $ — $ 2,809,315 $ — Senior secured notes - 4.75%, due April 15, 2028 461,636 — 461,636 — Senior unsecured notes - 6.50%, due February 15, 2029 699,136 — 699,136 — Senior unsecured notes - 6.00%, due January 15, 2030 414,660 — 414,660 — Convertible senior notes - 7.50% due December 1, 2027 268,930 — 268,930 — ABS Loan Facility, variable rate, due September 1, 2025 273,625 — 273,625 Settlement payable 116,475 — 116,475 — Total $ 5,043,777 $ — $ 5,043,777 $ — (Thousands) Total Quoted Prices in Active Markets (Level 1) Prices with Other Observable Inputs (Level 2) Prices with Unobservable At December 31, 2023 Liabilities Senior secured notes - 10.50%, due February 15, 2028 $ 2,624,596 $ — $ 2,624,596 $ — Senior secured notes - 4.75%, due April 15, 2028 488,205 — 488,205 — Senior unsecured notes - 6.50% , due February 15, 2029 796,125 — 796,125 — Senior unsecured notes - 6.00%, due January 15, 2030 486,675 — 486,675 — Exchangeable senior notes - 4.00%, due June 15, 2024 122,140 — 122,140 Convertible senior notes - 7.50%, due December 1, 2027 301,755 — 301,755 — Senior secured revolving credit facility, variable rate, due September 24, 2027 207,979 — 207,979 — Settlement payable 160,550 — 160,550 — Total $ 5,188,025 $ — $ 5,188,025 $ — The carrying value of cash and cash equivalents, accounts and other receivables, and accounts, interest and dividends payable approximate fair values due to the short-term nature of these financial instruments. The total principal balance of our outstanding notes and other debt was $5.86 billion at June 30, 2024, with a fair value of $4.93 billion. The estimated fair value of our outstanding notes and other debt was based on available external pricing data and current market rates for similar debt instruments, among other factors, which are classified as Level 2 inputs within the fair value hierarchy. Uniti is required to make $490.1 million of cash payments to Windstream in equal installments over 20 consecutive quarters beginning October 2020 (the “Settlement Payable”). See Note 12 . The Settlement Payable was initially recorded at fair value, using the present value of future cash flows. The future cash flows are discounted using discount rate input based on observable market data. Accordingly, we classify inputs used as Level 2 in the fair value hierarchy. As of June 30, 2024, the remaining Settlement Payable is $118.2 million. There have been no changes in the valuation methodologies used since the initial recording.

Property, Plant and Equipment

Property, Plant and Equipment	6 Months Ended
	Jun. 30, 2024
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	Property, Plant and Equipment The carrying value of property, plant and equipment is as follows: (Dollars in Thousands) Depreciable Lives June 30, 2024 December 31, 2023 Land Indefinite $ 30,491 $ 30,099 Building and improvements 3 - 40 years 370,191 366,490 Poles 30 years 326,387 314,489 Fiber 30 years 5,040,626 4,835,623 Equipment 5 - 7 years 475,671 460,463 Copper 20 years 3,973,190 3,974,410 Conduit 30 years 90,117 90,087 Tower assets 20 years 1,220 1,221 Finance lease assets (1) 52,589 52,589 Other assets 15 - 20 years 10,436 10,436 Corporate assets 3 - 7 years 16,215 15,731 Construction in progress (1) 49,146 49,771 10,436,279 10,201,409 Less accumulated depreciation (6,343,480) (6,219,340) Net property, plant and equipment $ 4,092,799 $ 3,982,069 (1) See our Annual Report for property, plant and equipment accounting policies. Depreciation expense for the three and six months ended June 30, 2024 was $70.6 million and $140.7 million, respectively. Depreciation expense for the three and six months ended June 30, 2023 was $69.8 million and $139.2 million, respectively. CableSouth Transaction In 2018, we acquired certain fiber assets from CableSouth Media, LLC (“CableSouth”) and leased back certain of those acquired assets to CableSouth pursuant to a triple-net lease. During the fourth quarter of 2023, the Company entered into an agreement with a fund managed by Macquarie Asset Management ("MAM") pursuant to which MAM would make a structured equity investment into CableSouth in order to assist CableSouth in the acquisition of all of our previously acquired CableSouth fiber assets and the buyout of their triple-net lease for cash consideration of $40.0 million (the "CableSouth Transaction"). The Company completed the CableSouth Transaction on January 31, 2024 and recorded a $19.0 million gain on sale of real estate in the Condensed Consolidated Statements of Income (Loss). The CableSouth Transaction is included in the results of the Uniti Leasing segment, and because the sale does not represent a strategic shift that will have a major effect on operations and financial results, it does not qualify for presentation as a discontinued operation.

Derivative Instruments and Hedg

Derivative Instruments and Hedging Activities	6 Months Ended
	Jun. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments and Hedging Activities	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 March 1, 2024, the Company entered into an interest rate cap agreement (the "ABS Loan Interest Rate Cap") related to the ABS Loan Facility (as defined in Note 9 ). This interest rate cap was designated as a cash flow hedge, has a notional value of $275.0 million, and effectively caps the one-month term secured overnight financing rate ("SOFR ") at 4.50%. (Thousands) Location on Condensed Consolidated Balance Sheets June 30, 2024 December 31, 2023 Interest rate caps Derivative asset $ 1,616 $ — The following table presents the effects of the Company’s derivative financial instrument on the Condensed Consolidated Statements of Income for the periods presented: (Thousands) Three Months Ended June 30, Six Months Ended June 30, Derivatives in Cash Flow Hedging Relationships (Interest Rate Caps) 2024 2023 2024 2023 Amount of gain recognized on derivative in Other Comprehensive Income $ 529 $ — $ 173 $ — Amount of gain reclassified from Accumulated Other Comprehensive Income into Interest Expense $ 226 $ — $ 37 $ — Total Amount of Interest Expense Presented in the Condensed Consolidated Statements of Income $ 127,475 $ 119,689 $ 250,686 $ 268,552 The company estimates that an additional $0.2 million will be reclassified from accumulated other comprehensive income as a decrease to interest expense over the next twelve months . Exchangeable Notes Hedge Transactions On June 25, 2019, concurrently with the pricing of the 4.00% Exchangeable Notes due June 15, 2024 (the "Exchangeable Notes"), and on June 27, 2019, concurrently with the exercise by the initial purchasers involved in the offering of the Exchangeable Notes (the “Initial Purchasers”) of their option to purchase additional Exchangeable Notes, Uniti Fiber Holdings Inc., the issuer of the Exchangeable Notes, entered into exchangeable note hedge transactions with respect to the Company’s common stock (the “Note Hedge Transactions”) with certain of the Initial Purchasers or their respective affiliates (collectively, the “Counterparties”). The Note Hedge Transactions cover, subject to anti-dilution adjustments substantially similar to those applicable to the Exchangeable Notes, the same number of shares of the Company’s common stock that initially underlie the Exchangeable Notes in the aggregate and are exercisable upon exchange of the Exchangeable Notes. The Note Hedge Transactions have an initial strike price that corresponds to the initial exchange price of the Exchangeable Notes, subject to anti-dilution adjustments substantially similar to those applicable to the Exchangeable Notes. The Note Hedge Transactions expired on June 15, 2024, upon the maturity and repayment of the Exchangeable Notes ( see Note 9 ). Warrant Transactions On June 25, 2019, concurrently with the pricing of the Exchangeable Notes, and on June 27, 2019 concurrently with the exercise by the Initial Purchasers of their option to purchase additional Exchangeable Notes, the Company entered into warrant transactions to sell to the Counterparties warrants (the “Warrants”) to acquire, subject to anti-dilution adjustments, up to approximately 27.8 million shares of the Company’s common stock in the aggregate at an exercise price of approximately $16.42 per share. The initial maximum number of shares of the Company’s common stock that could be issued pursuant to the Warrants was approximately 55.5 million. The maximum number of shares of the Company's common stock that could be issued pursuant to the Warrants subsequently decreased due to the partial unwind agreements that the Company entered into with the Counterparties in connection with each repurchase of Exchangeable Notes. The Warrants terminated in June 2024 and are no longer outstanding. Capped Call Transactions On December 7, 2022, in connection with the pricing of the 7.50% Convertible 2027 Notes due December 1, 2027 (the "Convertible 2027 Notes"), the Company entered into privately negotiated capped call transactions (the “Capped Calls”) with certain financial institutions at a cost of $21.1 million. The Capped Calls cover the same number of shares of the Company’s common stock that initially underlie the Convertible 2027 Notes in the aggregate. By entering into the Capped Calls, the Company expects to reduce the potential dilution to its common stock (or, in the event a conversion of the Convertible 2027 Notes is settled in cash, to reduce its cash payment obligation) in the event that at the time of conversion of the Convertible 2027 Notes its common stock price exceeds the conversion price of the Convertible 2027 Notes. The cap price of the Capped Calls will initially be $10.63 per share of common stock, which represents a premium of 75% over the last reported sale price of the Company’s common stock of $6.075 per share on December 7, 2022 and is subject to customary anti-dilution adjustments substantially similar to those applicable to the Convertible 2027 Notes. The Company used approximately $21.1 million of the net proceeds from the offering of the Convertible 2027 Notes to pay for the cost of the Capped Calls. The Capped Calls meet the criteria for classification in equity, are not remeasured each reporting period and are included as a reduction to additional paid-in-capital within stockholders’ equity.

Goodwill and Intangible Assets

Goodwill and Intangible Assets and Liabilities	6 Months Ended
	Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets and Liabilities	Goodwill and Intangible Assets and Liabilities Changes in the carrying amount of goodwill occurring during the six months ended June 30, 2024 are as follows: (Thousands) Uniti Fiber Total Goodwill at December 31, 2023 $ 672,878 $ 672,878 Accumulated impairment charges as of December 31, 2023 (515,498) (515,498) Balance at December 31, 2023 $ 157,380 $ 157,380 Goodwill at June 30, 2024 $ 672,878 $ 672,878 Accumulated impairment charges as of June 30, 2024 (515,498) (515,498) Balance at June 30, 2024 $ 157,380 $ 157,380 Carrying value of intangible assets and liabilities at June 30, 2024 and December 31, 2023 are as follows: (Thousands) June 30, 2024 December 31, 2023 Original Cost Accumulated Amortization Original Cost Accumulated Finite life intangible assets: Customer lists $ 416,104 $ (162,935) $ 416,104 $ (151,542) Contracts 52,536 (24,626) 52,536 (21,343) Underlying Rights 10,497 (1,312) 10,497 (1,137) Total intangible assets $ 479,137 $ 479,137 Less: accumulated amortization (188,873) (174,022) Total intangible assets, net $ 290,264 $ 305,115 Finite life intangible liabilities: Below-market leases $ 191,154 $ (40,104) $ 191,154 $ (34,757) Finite life intangible liabilities: Below-market leases $ 191,154 $ 191,154 Less: accumulated amortization (40,104) (34,757) Total intangible liabilities, net $ 151,050 $ 156,397 As of June 30, 2024, the remaining weighted average amortization period of the Company’s intangible assets was 13.6 years, 4.3 years, and 26.3 years for customer lists, contracts, and underlying rights, respectively. As of June 30, 2024, the total remaining weighted average amortization period for total intangible assets was 13.1 years. Amortization expense for the three and six months ended June 30, 2024 was $7.4 million and $14.9 million, respectively. Amortization expense for the three and six months ended June 30, 2023 was $7.4 million and $14.8 million, respectively. Amortization expense is estimated to be $29.7 million for the full year of 2024, $29.7 million in 2025, $29.7 million in 2026, $29.7 million in 2027, and $28.1 million for 2028.

Notes and Other Debt

Notes and Other Debt	6 Months Ended
	Jun. 30, 2024
Long-Term Debt, Unclassified [Abstract]
Notes and Other Debt	Notes and Other Debt All debt, including the senior secured credit facility and notes described below, are obligations of the Operating Partnership and/or certain of its subsidiaries as discussed below. The Company is, however, a guarantor of such debt. Notes and other debt are as follows: (Thousands) June 30, 2024 December 31, 2023 Principal amount $ 5,861,500 $ 5,617,442 Less unamortized discount, premium and debt issuance costs (89,691) (93,863) Notes and other debt less unamortized discount, premium and debt issuance costs $ 5,771,809 $ 5,523,579 Notes and other debt at June 30, 2024 and December 31, 2023 consisted of the following: June 30, 2024 December 31, 2023 (Thousands) Principal Unamortized Discount, Premium and Debt Issuance Costs Principal Unamortized Discount, Premium and Debt Issuance Costs Senior secured notes - 10.50% due February 15, 2028 (discount is based on imputed interest rate of 10.99%) $ 2,900,000 $ (42,422) $ 2,600,000 $ (48,290) Senior secured notes - 4.75%, due April 15, 2028 (discount is based on imputed interest rate of 5.04%) 570,000 (5,687) 570,000 (6,360) Senior unsecured notes - 6.50%, due February 15, 2029 (discount is based on imputed interest rate of 6.83%) 1,110,000 (14,454) 1,110,000 (15,761) Senior unsecured notes - 6.00% due January 15, 2030 (discount is based on imputed interest rate of 6.27%) 700,000 (8,664) 700,000 (9,307) Exchangeable senior notes - 4.00%, due June 15, 2024 (discount is based on imputed interest rate of 4.77%) — — 122,942 (427) Convertible senior notes - 7.50%, due December 1, 2027 (discount is based on imputed interest rate of 8.29%) 306,500 (7,202) 306,500 (8,092) ABS Loan Facility, variable rate, due September 1, 2025 (discount is based on imputed interest rate of 10.33%) 275,000 (6,263) — — Senior secured revolving credit facility, variable rate, due September 24, 2027 (discount is based on imputed interest rate of 11.16%) — (4,999) 208,000 (5,625) Total $ 5,861,500 $ (89,691) $ 5,617,442 $ (93,863) At June 30, 2024, notes and other debt included the following: (i) no balance under the Revolving Credit Facility (as defined below) pursuant to that certain credit agreement, dated as of April 24, 2015, by and among the Operating Partnership, Uniti Group Finance 2019 Inc. and CSL Capital, LLC (hereinafter, the “Borrowers”), the guarantors party thereto, Bank of America, N.A., as administrative agent, collateral agent, swing line lender and an L/C issuer and certain other lenders named therein, as amended (the “Credit Agreement”); (ii) $275.0 million under the bridge loan and security agreement (the "ABS Loan Agreement"), a multi-draw term loan facility dated February 23, 2024, entered into by and among Uniti Fiber Bridge Borrower LLC (the “ABS Bridge Borrower”), Uniti Fiber Bridge HoldCo LLC and Uniti Fiber GulfCo LLC (together, the “ABS Bridge Loan Parties”), each an indirect subsidiary of the Company, Wilmington Trust, National Association, as administrative agent, collateral agent, account bank and verification agent, Barclays Bank PLC, as facility agent, and the lenders identified therein; (iii) $2.9 billion aggregate principal amount of 10.50% Senior Secured Notes due February 15, 2028 (the “February 2028 Secured Notes”); (iv) $570.0 million aggregate principal amount of 4.75% Senior Secured Notes due April 15, 2028 (the “April 2028 Secured Notes”); (v) $1.1 billion aggregate principal amount of 6.50% Senior Unsecured Notes due February 15, 2029 (the “2029 Notes”); (vi) $700.0 million aggregate principal amount of 6.00% Senior Secured Notes due January 15, 2030 (the “2030 Notes”); and (vii) $306.5 million aggregate principal amount of Convertible 2027 Notes and, together with the February 2028 Secured Notes, April 2028 Secured Notes, 2029 Notes, 2030 Notes and the Exchangeable Notes, the "Notes"). T he terms of the Notes are as described in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023. Credit Agreement The Borrowers are party to the Credit Agreement, which provides for a $500 million revolving credit facility that will mature on September 24, 2027 (the “Revolving Credit Facility”) and provides us with the ability to obtain revolving loans as well as swingline loans and letters of credit from time to time. On June 17, 2024, the Borrowers, each a subsidiary of the Company, entered into Amendment No. 9 (the “Amendment”) to the Credit Agreement. Pursuant to the Amendment, the Credit Agreement’s requirement for the Operating Partnership to use commercially reasonable efforts to maintain its status as a REIT will now terminate (i) at the end of the taxable year in which the Company’s proposed merger with Windstream is consummated or, (ii) at December 31, 2024, if the Company determines that by reason of such proposed merger, the Company will cease to qualify as a REIT for the year during which the Merger is consummated. 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, 2024, the Borrowers were in compliance with all of the covenants under the Credit Agreement. A termination of either Windstream Lease would result in an “event of default” under the Credit Agreement if a replacement lease is not entered into within ninety (90) calendar days and we do not maintain pro forma compliance with a consolidated secured leverage ratio, as defined in the Credit Agreement, of 5.00 to 1.00. Borrowings under the Revolving Credit Facility bear interest at a rate equal to either a base rate plus an applicable margin ranging from 2.75% to 3.50% or a Term SOFR rate plus an applicable margin ranging from 3.75% to 4.50% in each case, calculated in a customary manner and determined based on our consolidated secured leverage ratio. We are required to pay a quarterly commitment fee under the Revolving Credit Facility equal to 0.50% of the average amount of unused commitments during the applicable quarter (subject to a step-down to 0.40% per annum of the average amount of unused commitments during the applicable quarter upon achievement of a consolidated secured leverage ratio not to exceed a certain level), as well as quarterly letter of credit fees equal to the product of (A) the applicable margin with respect to Term SOFR borrowings and (B) the average amount available to be drawn under outstanding letters of credit during such quarter. Issuance of Senior Secured Notes On May 17, 2024, the Operating Partnership, CSL Capital, LLC, Uniti Group Finance 2019 Inc. and Uniti Fiber Holdings Inc. (collectively, the “Issuers”) completed a private offering of $300.0 million aggregate principal amount of February 2028 Secured Notes (the "Additional February 2028 Secured Notes"). The Company filed to obtain regulatory approval to enable the subsidiaries that require regulatory approval prior to guaranteeing the Additional February 2028 Secured Notes (the “Regulated Subsidiaries”) to guarantee the Additional February 2028 Secured Notes, and it will use commercially reasonable efforts to obtain such approval. Upon the guarantee of the Additional February 2028 Secured Notes by each of the Regulated Subsidiaries that guarantee the Company’s existing February 2028 Secured Notes, the Additional February 2028 Secured Notes are expected to be mandatorily exchanged for February 2028 Secured Notes issued as “additional notes” under the Indenture dated as of February 14, 2023 among Uniti, Uniti Group Finance, Uniti Fiber Holdings, CSL Capital, the guarantors party thereto and the trustee and collateral agent party thereto (the “2023 Indenture”). Such additional notes are expected to be part of the same series as the existing February 2028 Secured Notes issued under the 2023 Indenture, and are expected to have the same CUSIP number as, and be fungible with, the existing February 2028 Secured Notes issued under the 2023 Indenture. The Additional February 2028 Secured Notes were issued at an issue price of 103.00% of their principal amount plus accrued interest from March 15, 2024 to, but excluding, May 17, 2024, pursuant to an Indenture, dated as of May 17, 2024 (the “2024 Indenture”), among the Issuers, the guarantors named therein (collectively, the “Guarantors”) and Deutsche Bank Trust Company Americas, as trustee (in such capacity, the “Trustee”) and as collateral agent. The Additional February 2028 Secured Notes mature on February 15, 2028 and bear interest at a rate of 10.50% per year. Interest on the Additional February 2028 Secured Notes is payable on March 15 and September 15 of each year, beginning on September 15, 2024. The Issuers may redeem the Additional February 2028 Secured Notes, in whole or in part, at any time prior to September 15, 2025 at a redemption price equal to 100% of the principal amount of the Additional February 2028 Secured Notes redeemed plus accrued and unpaid interest on the Additional February 2028 Secured Notes, if any, to, but not including, the redemption date, plus an applicable “make whole” premium described in the 2024 Indenture. Thereafter, the Issuers may redeem the Additional February 2028 Secured Notes in whole or in part, at the redemption prices set forth in the 2024 Indenture. In addition, prior to February 15, 2025, the Issuers may, on one or more occasions, redeem up to 10% of the aggregate principal amount of the Additional February 2028 Secured Notes in any twelve-month period at a redemption price equal to 103% of the principal amount thereof plus accrued and unpaid interest thereon, if any, to, but not including, the applicable redemption date. Notwithstanding the foregoing, the Issuers may not use the proceeds of any offering of Additional Notes (as defined in the 2024 Indenture) with a price to investors equal to or in excess of 103% to finance any such optional redemption. Further, at any time on or prior to September 15, 2025, up to 40% of the aggregate principal amount of the Additional February 2028 Secured Notes may be redeemed with the net cash proceeds of certain equity offerings at a redemption price of 110.50% of the principal amount plus accrued and unpaid interest, if any, to, but not including, the applicable redemption date; provided that at least 60% of aggregate principal amount of the originally issued Additional February 2028 Secured Notes remains outstanding. If certain changes of control of the Operating Partnership occur, holders of the Additional February 2028 Secured Notes will have the right to require the Issuers to offer to repurchase their Additional February 2028 Secured Notes at 101% of their principal amount plus accrued and unpaid interest, if any, to, but not including, the repurchase date. The Additional February 2028 Secured Notes are fully and unconditionally guaranteed, jointly and severally, on a senior unsecured basis by the Company and on a senior secured basis by the Subsidiary Guarantors. 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 Additional February 2028 Secured Notes. The Additional February 2028 Secured Notes and the related guarantees are the Issuers’ and the Subsidiary Guarantors’ senior secured obligations and rank equal in right of payment with all of the Issuers’ and the Subsidiary Guarantors’ existing and future unsubordinated obligations; effectively senior to all unsecured indebtedness of the Issuers and the Subsidiary Guarantors, including the Company’s existing senior unsecured notes, to the extent of the value of the collateral securing the Additional February 2028 Secured Notes; effectively equal with all of the Issuers’ and the Subsidiary Guarantors’ existing and future indebtedness that is secured by first-priority liens on the collateral (including indebtedness under the Company’s senior secured credit facilities and existing secured notes); senior in right of payment to any of the Issuers’ and Subsidiary Guarantors’ subordinated indebtedness; and structurally subordinated to all existing and future liabilities (including trade payables) of the Company’s subsidiaries (other than the Issuers) that do not guarantee the Additional February 2028 Secured Notes. The guarantee of the Company is its senior unsecured obligation and ranks equally in right of payment with all of its existing and future unsubordinated obligations and senior in right of payment to any of its subordinated indebtedness. The Additional February 2028 Secured Notes and the related guarantees are 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 Additional February 2028 Secured Notes to the extent of the value of such assets, and to any existing or future secured indebtedness of the Company to the extent of the value of the assets securing such indebtedness. The Additional February 2028 Secured Notes and the related guarantees are secured by liens on substantially all of the assets of the Issuers and the Subsidiary Guarantors, which assets also ratably secure obligations under the Company’s existing secured notes and senior secured credit facilities, in each case, subject to certain exceptions and permitted liens. The collateral does not include real property (below a specified threshold of value), but does include certain fixtures and other equipment as well as cash that we receive pursuant to our long-term exclusive triple-net leases with Windstream. The 2024 Indenture contains customary high yield covenants limiting the ability of the Operating Partnership and its restricted subsidiaries to: incur or guarantee additional indebtedness; incur or guarantee secured indebtedness; pay dividends or distributions on, or redeem or repurchase, capital stock; make certain investments or other restricted payments; sell assets; transfer material intellectual property to unrestricted subsidiaries; enter into transactions with affiliates; merge or consolidate or sell all or substantially all of their assets; and create restrictions on the ability of the Issuers and their restricted subsidiaries to pay dividends or other amounts to the Issuers. These covenants are subject to a number of important and significant limitations, qualifications and exceptions. The 2024 Indenture also contains customary events of default. On February 14, 2023, the Issuers completed a private offering of $2.6 billion aggregate principal amount of the February 2028 Secured Notes. The Issuers used the net proceeds from the offering to fund the redemption in full of the Issuers’ outstanding 7.875% senior secured notes due 2025 (the "2025 Secured Notes"), to repay outstanding borrowings under the Revolving Credit Facility and to pay any related premiums, fees and expenses in connection with the foregoing. On February 14, 2023, the Issuers deposited the full redemption price of $2.25 billion for the 2025 Secured Notes with the trustee and satisfied and discharged their obligations with respect to the 2025 Secured Notes at such time. During the first quarter of 2023, we recorded $32.3 million of loss on the extinguishment of the 2025 Secured Notes within interest expense, net on the Condensed Consolidation Statements of Income (Loss), which includes $10.3 million of non-cash interest expense for the write off of the unamortized discount and deferred financing costs and $22.0 million of cash interest expense for the redemption premium. Exchangeable Notes The Exchangeable Notes matured on June 15, 2024, and the principal balance of $122.9 million was repaid. Asset-Backed Bridge Loan Facility On February 23, 2024, ABS Bridge Borrower and the other ABS Bridge Loan Parties entered into the ABS Loan Agreement, which provides for a secured, multi-draw term loan facility of up to $350 million (the “ABS Loan Facility”). On March 1, 2024 (the “ABS Loan Closing Date”), the ABS Bridge Borrower made an initial drawing under the ABS Loan Facility in a principal amount of $275 million. Amounts borrowed under the ABS Loan Facility may not be reborrowed. Unless otherwise terminated pursuant to the terms of the ABS Loan Agreement, the ABS Loan Facility matures on the date that is 18 months from the ABS Loan Closing Date. The Company intends to refinance the ABS Loan Facility in full with proceeds from a long-term asset-backed securitized debt offering secured primarily by certain Uniti Fiber network assets. Amounts outstanding under the ABS Loan Facility bear interest at a floating rate equal to, at the Company’s option, either (i) the one-month or three-month SOFR, plus a spread of 3.75% per annum or (ii) Base Rate (as defined in the ABS Loan Agreement), plus a spread of 2.75% per annum; provided that the spread will automatically increase to (a) 4.50% per annum in the case of loans bearing interest based on SOFR and 3.50% per annum in the case of loans bearing interest based on Base Rate, in each case to the extent outstanding on and after the date that is 12 months following the ABS Loan Closing Date and (b) 5.25% per annum in the case of loans bearing interest based on SOFR and 4.25% per annum in the case of loans bearing interest based on Base Rate, in each case to the extent outstanding on and after the date that is 15 months following the ABS Loan Closing Date. The Company capped SOFR interest expense at 4.50% for the duration of the ABS Loan Facility pursuant to the ABS Loan Interest Rate Cap (see Note 7). In connection with the ABS Loan Facility, the Company formed Uniti Fiber ABS Parent LLC, an indirect subsidiary of the Company that qualifies as a bankruptcy-remote special purpose entity (“ABS Parent”), and directed the formation of the ABS Bridge Loan Parties, which are direct or indirect wholly-owned subsidiaries of ABS Parent. Each of the ABS Bridge Loan Parties is a special purpose, bankruptcy-remote, indirect subsidiary of the Company. The ABS Loan Facility is secured by equity in the ABS Bridge Borrower and substantially all of the assets of the ABS Bridge Loan Parties (subject to certain customary limited exceptions) and is non-recourse to the Company. Each of the ABS Bridge Loan Parties and ABS Parent was designated as an unrestricted subsidiary under the Credit Agreement and the applicable indentures governing the Company’s outstanding senior notes. The assets of the ABS Bridge Loan Parties will only be available for payment of the obligations arising under the ABS Loan Agreement and will not be available to pay any obligations or claims of the Company’s other creditors. In connection with the initial funding under the ABS Loan Facility on the ABS Loan Closing Date, the Company, directly or indirectly, (i) transferred certain Uniti Fiber non-regulated and interstate customer contracts and related equipment to the ABS Bridge Loan Parties and (ii) granted an indefeasible right of use in the related fiber network assets to such ABS Bridge Loan Parties. In addition, certain of the ABS Bridge Loan Parties entered into a management agreement (the “Management Agreement”) with Uniti Fiber Holdings Inc. (in its capacity as manager thereunder, the “Manager”), pursuant to which the Manager is responsible for servicing and administering the assets securing the ABS Loan Facility and is permitted to make reimbursable servicing advances in respect of the collateral securing the ABS Loan Facility under certain circumstances. The ABS Loan Agreement contains customary covenants limiting the ability of the ABS Bridge Loan Parties to: incur or guarantee additional indebtedness; pay dividends or distributions on, or redeem or repurchase, capital stock; make certain investments or other restricted payments; sell fiber network assets; enter into transactions with the Company and other affiliates; and create restrictions on the ability of the ABS Bridge Loan Parties to incur liens on their assets constituting collateral to secure obligations under the ABS Loan Agreement. These covenants are subject to a number of limitations, qualifications and exceptions. The ABS Loan Agreement also contains a maximum leverage financial maintenance covenant and customary events of default. Deferred Financing Cost Deferred financing costs were incurred in connection with the issuance of the Notes and our entry into the Revolving Credit Facility and the ABS Loan 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. For the three and six months ended June 30, 2024, we recognized $6.1 million and $11.1 million, respectively, of non-cash interest expense related to the amortization of deferred financing costs. For the three and six months ended June 30, 2023, we recognized $4.4 million and $9.2 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, 2024
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share Our time-based restricted stock awards are considered participating securities as they receive non-forfeitable rights to dividends at the same rate as common stock. As participating securities, we included these instruments in the computation of earnings per share under the two-class method described in FASB ASC 260, Earnings per Share (“ASC 260”). We also have outstanding performance-based restricted stock units that contain forfeitable rights to receive dividends. Therefore, the awards are considered non-participating restrictive shares and are not dilutive under the two-class method until performance conditions are met. The dilutive effect of the Exchangeable Notes, which were repaid on June 15, 2024 ( s ee Note 9 ), and the Convertible 2027 Notes is calculated by using the “if-converted” method. This assumes an add-back of interest, net of income taxes, to net income attributable to shareholders as if the securities were converted at the beginning of the reporting period (or at time of issuance, if later) and the resulting common shares included in number of weighted average shares. The dilutive effect of the Warrants ( see Note 7 ) is calculated using the treasury-stock method. During the three and six months ended June 30, 2024 and 2023, the Warrants were excluded from diluted shares outstanding because the exercise price exceeded the average market price of our common stock for the reporting period. The following sets forth the computation of basic and diluted earnings per share under the two-class method: Three Months Ended June 30, Six Months Ended June 30, (Thousands, except per share data) 2024 2023 2024 2023 Basic earnings per share: Numerator: Net income (loss) attributable to shareholders $ 18,278 $ 25,626 $ 59,607 $ 6,424 Less: Income allocated to participating securities (723) (322) (1,159) (569) Dividends declared on convertible preferred stock (5) (5) (10) (10) Net income (loss) attributable to common shares $ 17,550 $ 25,299 $ 58,438 $ 5,845 Denominator: Basic weighted-average common shares outstanding 237,347 236,429 237,121 236,260 Basic income (loss) earnings per common share $ 0.07 $ 0.11 $ 0.25 $ 0.02 Three Months Ended June 30, Six Months Ended June 30, (Thousands, except per share data) 2024 2023 2024 2023 Diluted earnings per share: Numerator: Net income (loss) attributable to shareholders $ 18,278 $ 25,626 $ 59,607 $ 6,424 Less: Income allocated to participating securities (723) (322) (1,159) (569) Dividends declared on convertible preferred stock (5) (5) (10) (10) Impact on if-converted dilutive securities — — — — Net income (loss) attributable to common shares $ 17,550 $ 25,299 $ 58,438 $ 5,845 Denominator: Basic weighted-average common shares outstanding 237,347 236,429 237,121 236,260 Effect of dilutive non-participating securities — — — — Impact on if-converted dilutive securities — — — — Weighted-average shares for dilutive earnings per common share 237,347 236,429 237,121 236,260 Dilutive earnings (loss) per common share $ 0.07 $ 0.11 $ 0.25 $ 0.02 For the three and six months ended June 30, 2024, 1,412,563 non-participating securities were excluded from the computation of earnings per share, as their performance conditions have not been met. For the three and six months ended June 30, 2024, we excluded 52,910,874 and 54,070,019 potential common shares related to the Exchangeable Notes and the Convertible Notes, respectively, from the computation of earnings per share, as their effect would have been anti-dilutive. For the three and six months ended June 30, 2023, 1,053,189 non-participating securities were excluded from the computation of earnings per share, as their performance conditions have not been met. For the three and six months ended June 30, 2023, we excluded 53,455,231 and 54,082,264 potential common shares related to the Exchangeable Notes and the Convertible Notes, respectively, from the computation of earnings per share, as their effect would have been anti-dilutive.

Segment Information

Segment Information	6 Months Ended
	Jun. 30, 2024
Segment Reporting [Abstract]
Segment Information	Segment Information Our management, including our chief executive officer, who is our chief operating decision maker, manages our operations as two reportable segments, in addition to our corporate operations, which include: Uniti Leasing : Represents the operations of our leasing business which is engaged in the acquisition and construction of mission-critical communications assets and leasing them to anchor customers on either an exclusive or shared-tenant basis, in addition to the leasing of dark fiber on our existing dark fiber network assets that we either constructed or acquired. While the Leasing segment represents our REIT operations, certain aspects of the Leasing segment are also operated through taxable REIT subsidiaries. Uniti Fiber : Represents the operations of our fiber business which is a leading provider of infrastructure solutions, including cell site backhaul and dark fiber, to the telecommunications industry. Corporate : Represents our corporate office and shared service functions. Certain costs and expenses, primarily related to headcount, information technology systems, 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, severance costs, costs related to the settlement with Windstream, amortization of non-cash rights-of-use assets, the write off of unamortized deferred financing costs, costs incurred as a result of the early repayment of debt, including early tender and redemption premiums and costs associated with the termination of related hedging activities, gains or losses on dispositions, changes in the fair value of contingent consideration and financial instruments, and other similar or infrequent items (although we may not have had such charges in the periods presented). Adjusted EBITDA includes adjustments to reflect the Company’s share of Adjusted EBITDA from unconsolidated entities. The Company believes that net income, as defined by GAAP, is the most appropriate earnings metric; however, we believe that Adjusted EBITDA serves as a useful supplement to net income because it allows investors, analysts and management to evaluate the performance of our segments in a manner that is comparable period over period. Adjusted EBITDA should not be considered as an alternative to net income as determined in accordance with GAAP. Selected financial data related to our segments is presented below for the three and six months ended June 30, 2024 and 2023: Three Months Ended June 30, 2024 (Thousands) Uniti Leasing Uniti Fiber Corporate Subtotal of Reportable Segments Revenues $ 218,286 $ 76,661 $ — $ 294,947 Adjusted EBITDA $ 210,853 $ 31,091 $ (5,285) $ 236,659 Less: Interest expense 127,475 Depreciation and amortization 44,613 33,425 14 78,052 Transaction related and other costs 10,977 Other, net 1,048 Stock-based compensation 3,397 Income tax benefit (2,571) Net income $ 18,281 Three Months Ended June 30, 2023 (Thousands) Uniti Leasing Uniti Fiber Corporate Subtotal of Reportable Segments Revenues $ 212,453 $ 71,245 $ — $ 283,698 Adjusted EBITDA $ 206,552 $ 25,181 $ (3,566) $ 228,167 Less: Interest expense 119,689 Depreciation and amortization 44,690 32,563 14 77,267 Transaction related and other costs 5,576 Other, net 469 Stock-based compensation 3,130 Income tax benefit (4,357) Adjustments for equity in earnings from unconsolidated entities 755 Net income $ 25,638 Six Months Ended June 30, 2024 (Thousands) Uniti Leasing Uniti Fiber Corporate Subtotal of Reportable Segments Revenues $ 435,907 $ 145,458 $ — $ 581,365 Adjusted EBITDA $ 421,530 $ 54,929 $ (11,172) $ 465,287 Less: Interest expense 250,686 Depreciation and amortization 89,593 65,917 27 155,537 Transaction related and other costs 16,664 Gain on sale of real estate (18,999) Other, net 2,959 Stock-based compensation 6,745 Income tax benefit (7,934) Net income $ 59,629 Six Months Ended June 30, 2023 (Thousands) Uniti Leasing Uniti Fiber Corporate Subtotal of Reportable Segments Revenues $ 423,261 $ 150,259 $ — $ 573,520 Adjusted EBITDA $ 411,518 $ 58,855 $ (11,005) $ 459,368 Less: Interest expense 268,552 Depreciation and amortization 88,862 65,150 30 154,042 Transaction related and other costs 8,364 Other, net 20,982 Stock-based compensation 6,260 Income tax benefit (6,769) Adjustments for equity in earnings from unconsolidated entities 1,510 Net income $ 6,427

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies In the ordinary course of our business, we are subject to claims and administrative proceedings, none of which we believe are material or would be expected to have, individually or in the aggregate, a material adverse effect on our business, financial condition, cash flows or results of operations. Windstream Commitments Following the consummation of our settlement agreement with Windstream, including entry into the Windstream Leases, we are obligated to make $490.1 million of cash payments to Windstream in equal installments over 20 consecutive quarters beginning in October 2020, and Uniti may prepay any installments due on or after the first anniversary of the settlement agreement (discounted at a 9% rate). As of June 30, 2024, the Company has made payments totaling $362.4 million. Further, beginning in October 2020, we became obligated to reimburse Windstream for up to an aggregate of $1.75 billion for certain growth capital improvements in long-term fiber and related assets made by Windstream (“Growth Capital Improvements”) through 2029. Uniti’s reimbursement commitment for Growth Capital Improvements does not require Uniti to reimburse Windstream for maintenance or repair expenditures (except for costs incurred for fiber replacements to the property leased under the competitive local exchange carrier master lease agreement, up to $70 million during the term), and each such reimbursement is subject to underwriting standards. Uniti’s total annual reimbursement commitments for the Growth Capital Improvements under both Windstream Leases (and under separate equipment loan facilities) were limited to $225 million in 2023, and are limited to $225 million per year in 2024; $175 million per year in 2025 and 2026; and $125 million per year in 2027 through 2029. If the cost incurred by Windstream (or the successor tenant under a Windstream Lease) for Growth Capital Improvements in any calendar year exceeds the annual limit for such calendar year, Windstream (or such tenant, as the case may be) may submit such excess costs for reimbursement in any subsequent year and such excess costs shall be funded from the annual commitment amounts in such subsequent period. In addition, to the extent that reimbursements for Growth Capital Improvements funded in any calendar year during the term is less than the annual limit for such calendar year, the unfunded amount in any calendar year will carry-over and may be added to the annual limits for subsequent calendar years, subject to an annual limit of $250 million in any calendar year. During the six months ended June 30, 2024, Uniti reimbursed $196.7 million of Growth Capital Improvements, of which $104.6 million represented the reimbursement of capital improvements completed in 2023 that were previously classified as tenant funded capital improvements. As of the date of this Quarterly Report on Form 10-Q, we have reimbursed a total of $1.0 billion of Growth Capital Improvements. Upon reimbursement, the Company reduced the unamortized portion of deferred revenue related to these capital improvements and capitalized the difference between the cash provided to Windstream and the unamortized deferred revenue as a lease incentive which will be amortized as a reduction to revenue over the initial term of the Windstream Leases. Starting on the first anniversary of each installment of reimbursement for a Growth Capital Improvement, the rent payable by Windstream under the applicable Windstream Lease will increase by an amount equal to 8.0% (the “Rent Rate”) of such installment of reimbursement. The Rent Rate will thereafter increase to 100.5% of the prior Rent Rate on each anniversary of each reimbursement. In the event that the tenant’s interest in either Windstream Lease is transferred by Windstream under the terms thereof (unless transferred to the same transferee), or if Uniti transfers its interests as landlord under either Windstream Lease (unless to the same transferee), the reimbursement rights and obligations will be allocated between the ILEC MLA and the CLEC MLA by Windstream, provided that the maximum that may be allocated to the CLEC MLA following such transfer is $20 million per year. If Uniti fails to reimburse any Growth Capital Improvement reimbursement payment or equipment loan funding request as and when it is required to do so under the terms of the Windstream Leases, and such failure continues for thirty (30) days, then such unreimbursed amounts may be applied as an offset against the rent owed by Windstream under the Windstream Leases (and such amounts will thereafter be treated as if Uniti had reimbursed them). Uniti and Windstream have entered into separate ILEC and CLEC Equipment Loan and Security Agreements (collectively “Equipment Loan Agreement”) in which Uniti will provide up to $125 million (limited to $25 million in any calendar year) of the $1.75 billion of Growth Capital Improvements commitments discussed above in the form of loans for Windstream to purchase equipment related to network upgrades or to be used in connection with the Windstream Leases. Interest on these loans will accrue at 8% from the date of the borrowing. All equipment financed through the Equipment Loan Agreement is the sole property of Windstream; however, Uniti will receive a first-lien security interest in the equipment purchased with the loans. No loans have been made under the Equipment Loan Agreement.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	6 Months Ended
	Jun. 30, 2024
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Accumulated Other Comprehensive Loss	Accumulated Other Comprehensive Loss Changes in accumulated other comprehensive loss by component is as follows for the three and six months ended June 30, 2024 and 2023: Three Months Ended June 30, Six Months Ended June 30, (Thousands) 2024 2023 2024 2023 Cash flow hedge: Balance at beginning of period attributable to shareholders $ (167) $ — $ — $ — Change in fair value of derivative asset 529 — 173 — Amounts reclassified from accumulated other comprehensive income (226) — (37) — Balance at end of period 136 — 136 — Less: Other comprehensive income attributable to noncontrolling interest 0 — 0 — Balance at end of period attributable to shareholders 136 — 136 — Accumulated other comprehensive income at end of period $ 136 $ — $ 136 $ —

Capital Stock

Capital Stock	6 Months Ended
	Jun. 30, 2024
Equity [Abstract]
Capital Stock	Capital Stock The limited partnership interests in our operating partnership (commonly called “OP Units”), are exchangeable on a one-for-one basis for shares of our common stock or, at our election, cash of equivalent value. During the three and six months ended June 30, 2024, the Company exchanged 68,384 OP Units held by third parties, of which 53,662 OP Units were exchanged for an equal number of shares of our common stock and 14,722 OP Units were purchased for cash consideration of $0.1 million, representing approximately 65% of the OP Units held by third parties with a carrying value of $1.3 million as of the exchange dates.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Pay vs Performance Disclosure
Net income (loss) attributable to shareholders	$ 18,278	$ 25,626	$ 59,607	$ 6,424

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Jun. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Basis of Presentation and Sum_2

Basis of Presentation and Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
Consolidation	The accompanying Condensed Consolidated Financial Statements include all accounts of the Company and its wholly-owned and/or controlled subsidiaries, including the Operating Partnership. Under the Accounting Standards Codification 810, Consolidation (“ASC 810”), the Operating Partnership is considered a variable interest entity and is consolidated in the Condensed Consolidated Financial Statements of Uniti Group Inc. because the Company is the primary beneficiary. All material intercompany balances and transactions have been eliminated.
Variable Interest Entity	ASC 810 provides guidance on the identification of entities for which control is achieved through means other than voting rights (“variable interest entities” or “VIEs”) and the determination of which business enterprise, if any, should consolidate the VIEs. Generally, the consideration of whether an entity is a VIE applies when either: (1) the equity investors (if any) lack (i) the ability to make decisions about the entity’s activities through voting or similar rights, (ii) the obligation to absorb the expected losses of the entity, or (iii) the right to receive the expected residual returns of the entity; (2) the equity investment at risk is insufficient to finance that entity’s activities without additional subordinated financial support; or (3) the equity investors have voting rights that are not proportionate to their economic interests and substantially all of the activities of the entity involve or are conducted on behalf of an investor with a disproportionately small voting interest. The Company consolidates VIEs in which it is considered to be the primary beneficiary. The primary beneficiary is defined as the entity having both of the following characteristics: (1) the power to direct the activities that, when taken together, most significantly impact the VIE’s performance; and (2) the obligation to absorb losses and right to receive the returns from the VIE that would be significant to the VIE.
Basis of Accounting	The accompanying Condensed Consolidated Financial Statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information set forth in the Accounting Standards Codification (“ASC”), as published by the Financial Accounting Standards Board (“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 February 29, 2024 , as amended by Amendment No. 1 and Amendment No. 2 thereto filed on Form 10-K/A with the SEC on March 26, 2024 and March 27, 2024 , respectively
Restricted Cash and Cash Equivalents	Restricted Cash and Cash Equivalents —Restricted cash and cash equivalents represent funds that are restricted for an obligation under the ABS Loan Facility (as defined in Note 9 ) to maintain three months of interest and other expenses.
Concentration of Credit Risks	Concentration of Credit Risks —Prior to September 2020, we were party to a long-term exclusive triple-net lease (the “Master Lease”) with Windstream pursuant to which a substantial portion of our real property was leased to Windstream and from which a substantial portion of our leasing revenues were derived. On September 18, 2020, Uniti and Windstream bifurcated the Master Lease and entered into two structurally similar master leases (collectively, the “Windstream Leases”), which amended and restated the Master Lease in its entirety. The Windstream Leases consist of (a) a master lease (the "ILEC MLA") that governs Uniti owned assets used for Windstream's incumbent local exchange carrier ("ILEC") operations and (b) a master lease (the "CLEC MLA") that governs Uniti owned assets used for Windstream's consumer competitive local exchange carrier ("CLEC") operations. Revenue under the Windstream Leases provided 68.1% and 66.9% of our revenue for the six months ended June 30, 2024 and 2023, respectively. Because a substantial portion of our revenue and cash flows are derived from lease payments by Windstream pursuant to the Windstream Leases, there could be a material adverse impact on our consolidated results of operations, liquidity, financial condition and/or ability to pay dividends and service debt if Windstream were to default under the Windstream Leases or otherwise experiences operating or liquidity difficulties and becomes unable to generate sufficient cash to make payments to us. We monitor the credit quality of Windstream through numerous methods, including by (i) reviewing credit ratings of Windstream by nationally recognized credit agencies, (ii) reviewing the financial statements of Windstream that are required to be delivered to us pursuant to the Windstream Leases, (iii) monitoring news reports regarding Windstream and its business, (iv) conducting research to ascertain industry trends potentially affecting Windstream, (v) monitoring Windstream’s compliance with the terms of the Windstream Leases and (vi) monitoring the timeliness of its payments under the Windstream Leases. As of the date of this Quarterly Report on Form 10-Q, Windstream is current on all lease payments. We note that in August 2020, Moody’s Investor Service assigned a B3 corporate family rating with a stable outlook to Windstream in connection with its post-emergence exit financing. At the same time, S&P Global Ratings assigned Windstream a B- issuer rating with a stable outlook. Both ratings remain current as of the date of this filing. In order to assist us in our continuing assessment of Windstream’s creditworthiness, we periodically receive certain confidential financial information and metrics from Windstream.
Recently Issued Accounting Pronouncements Not Yet Adopted	Recently Issued Accounting Pronouncements Not Yet Adopted In November 2023, the FASB issued Accounting Standards Update ("ASU") 2023-07, Segment Reporting—Improvements to Reportable Segment Disclosures ("ASU 2023-07"), which requires incremental disclosures related to reportable segments. Specifically, the ASU requires disclosure of significant segment expense categories and amounts for each reportable segment. The ASU is effective for fiscal years beginning after December 15, 2023, and interim periods in fiscal years beginning after December 15, 2024, with early adoption permitted. The Company is currently evaluating this guidance to determine the impact it will have on our financial statements.
Segment Reporting	Management evaluates the performance of each segment using Adjusted EBITDA, which is a segment performance measure we define as net income determined in accordance with GAAP, before interest expense, provision for income taxes, depreciation and amortization, stock-based compensation expense and the impact, which may be recurring in nature, of transaction and integration related costs, costs associated with Windstream’s bankruptcy, costs associated with litigation claims made against us, costs associated with the implementation of our enterprise resource planning system, severance costs, costs related to the settlement with Windstream, amortization of non-cash rights-of-use assets, the write off of unamortized deferred financing costs, costs incurred as a result of the early repayment of debt, including early tender and redemption premiums and costs associated with the termination of related hedging activities, gains or losses on dispositions, changes in the fair value of contingent consideration and financial instruments, and other similar or infrequent items (although we may not have had such charges in the periods presented). Adjusted EBITDA includes adjustments to reflect the Company’s share of Adjusted EBITDA from unconsolidated entities. The Company believes that net income, as defined by GAAP, is the most appropriate earnings metric; however, we believe that Adjusted EBITDA serves as a useful supplement to net income because it allows investors, analysts and management to evaluate the performance of our segments in a manner that is comparable period over period. Adjusted EBITDA should not be considered as an alternative to net income as determined in accordance with GAAP.

Basis of Presentation and Sum_3

Basis of Presentation and Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
Schedule of Cash and Cash Equivalents	The following table provides a reconciliation of cash and cash equivalents and restricted cash and cash equivalents within the Condensed Consolidated Balance Sheets to the total cash and cash equivalents and restricted cash and cash equivalents within the Condensed Consolidated Statements of Cash Flows. (Thousands) June 30, 2024 December 31, 2023 Cash and cash equivalents $ 118,763 $ 62,264 Restricted cash and cash equivalents 12,728 — Cash, restricted cash and cash equivalents at end of period $ 131,491 $ 62,264
Restrictions on Cash and Cash Equivalents	The following table provides a reconciliation of cash and cash equivalents and restricted cash and cash equivalents within the Condensed Consolidated Balance Sheets to the total cash and cash equivalents and restricted cash and cash equivalents within the Condensed Consolidated Statements of Cash Flows. (Thousands) June 30, 2024 December 31, 2023 Cash and cash equivalents $ 118,763 $ 62,264 Restricted cash and cash equivalents 12,728 — Cash, restricted cash and cash equivalents at end of period $ 131,491 $ 62,264

Revenues (Tables)

Revenues (Tables)	6 Months Ended
	Jun. 30, 2024
Revenue from Contract with Customer [Abstract]
Revenues Disaggregated by Revenue Stream	The following table presents our revenues disaggregated by revenue stream. Three Months Ended Six Months Ended (Thousands) 2024 2023 2024 2023 Revenue disaggregated by revenue stream Revenue from contracts with customers Uniti Fiber Lit backhaul $ 22,645 $ 19,453 $ 40,367 $ 38,975 Enterprise and wholesale 24,327 23,410 51,220 45,986 E-Rate and government 16,174 14,145 27,318 28,036 Other 852 730 1,727 1,478 Uniti Fiber $ 63,998 $ 57,738 $ 120,632 $ 114,475 Uniti Leasing 1,646 2,108 3,274 3,274 Total revenue from contracts with customers 65,644 59,846 123,906 117,749 Revenue accounted for under leasing guidance Uniti Leasing 216,640 210,345 432,633 419,987 Uniti Fiber 12,663 13,507 24,826 35,784 Total revenue accounted for under leasing guidance 229,303 223,852 457,459 455,771 Total revenue $ 294,947 $ 283,698 $ 581,365 $ 573,520
Schedule of Contract Assets and Contract Liabilities	The following table provides information about contract assets and contract liabilities accounted for under ASC 606. (Thousands) Contract Assets Contract Liabilities Balance at December 31, 2023 $ 26 $ 11,109 Balance at June 30, 2024 $ 138 $ 9,780

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 30, 2024
Leases [Abstract]
Components of Lease Income	The components of lease income for the three and six months ended June 30, 2024 and 2023 respectively, are as follows: Three Months Ended June 30, Six Months Ended June 30, (Thousands) 2024 2023 2024 2023 Lease income - operating leases $ 229,303 $ 223,852 $ 457,459 $ 455,771
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, 2024 are as follows: (Thousands) June 30, 2024⁽¹⁾ 2024 $ 404,320 2025 828,753 2026 833,638 2027 834,405 2028 834,714 Thereafter 1,562,050 Total lease receivables $ 5,297,880 (1) Total future minimum lease payments to be received include $4.5 billion relating to the Windstream Leases.
Property, Plant, and Equipment, Lessor Asset under Operating Lease	The underlying assets under operating leases where we are the lessor are summarized as follows: (Thousands) June 30, 2024 December 31, 2023 Land $ 26,518 $ 26,533 Building and improvements 348,550 347,700 Poles 326,387 314,488 Fiber 4,034,889 3,862,635 Equipment 437 436 Copper 3,973,190 3,974,410 Conduit 90,116 90,087 Tower assets 58 58 Finance lease assets 1,890 1,890 Other assets 10,434 10,434 8,812,469 8,628,671 Less: accumulated depreciation (5,770,081) (5,690,066) Underlying assets under operating leases, net $ 3,042,388 $ 2,938,605
Schedule of Depreciation Expense for Underlying Assets under Operating Leases	Depreciation expense for the underlying assets under operating leases where we are the lessor for the three and six months ended June 30, 2024 and 2023 , respectively, is summarized as follows: Three Months Ended June 30, Six Months Ended June 30, (Thousands) 2024 2023 2024 2023 Depreciation expense for underlying assets under operating leases $ 45,643 $ 45,639 $ 91,648 $ 90,845
Future Lease Payments Under Non-Cancellable Operating Leases	Future lease payments under non-cancellable leases as of June 30, 2024 are as follows: (Thousands) Operating Leases Finance Leases 2024 $ 8,502 $ 2,002 2025 16,850 4,003 2026 13,406 3,878 2027 10,651 3,171 2028 9,022 2,453 Thereafter 100,231 9,830 Total undiscounted lease payments $ 158,662 $ 25,337 Less: imputed interest (78,850) (7,227) Total lease liabilities $ 79,812 $ 18,110
Future Lease Payments Under Non-Cancellable Finance Leases	Future lease payments under non-cancellable leases as of June 30, 2024 are as follows: (Thousands) Operating Leases Finance Leases 2024 $ 8,502 $ 2,002 2025 16,850 4,003 2026 13,406 3,878 2027 10,651 3,171 2028 9,022 2,453 Thereafter 100,231 9,830 Total undiscounted lease payments $ 158,662 $ 25,337 Less: imputed interest (78,850) (7,227) Total lease liabilities $ 79,812 $ 18,110

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	6 Months Ended
	Jun. 30, 2024
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, 2024 and December 31, 2023: (Thousands) Total Quoted Prices in Active Markets (Level 1) Prices with Other Observable Inputs (Level 2) Prices with Unobservable At June 30, 2024 Assets Derivative asset $ 1,616 $ — $ 1,616 $ — Total $ 1,616 $ — $ 1,616 $ — Liabilities Senior secured notes - 10.50%, due February 15, 2028 (see Note 9) $ 2,809,315 $ — $ 2,809,315 $ — Senior secured notes - 4.75%, due April 15, 2028 461,636 — 461,636 — Senior unsecured notes - 6.50%, due February 15, 2029 699,136 — 699,136 — Senior unsecured notes - 6.00%, due January 15, 2030 414,660 — 414,660 — Convertible senior notes - 7.50% due December 1, 2027 268,930 — 268,930 — ABS Loan Facility, variable rate, due September 1, 2025 273,625 — 273,625 Settlement payable 116,475 — 116,475 — Total $ 5,043,777 $ — $ 5,043,777 $ — (Thousands) Total Quoted Prices in Active Markets (Level 1) Prices with Other Observable Inputs (Level 2) Prices with Unobservable At December 31, 2023 Liabilities Senior secured notes - 10.50%, due February 15, 2028 $ 2,624,596 $ — $ 2,624,596 $ — Senior secured notes - 4.75%, due April 15, 2028 488,205 — 488,205 — Senior unsecured notes - 6.50% , due February 15, 2029 796,125 — 796,125 — Senior unsecured notes - 6.00%, due January 15, 2030 486,675 — 486,675 — Exchangeable senior notes - 4.00%, due June 15, 2024 122,140 — 122,140 Convertible senior notes - 7.50%, due December 1, 2027 301,755 — 301,755 — Senior secured revolving credit facility, variable rate, due September 24, 2027 207,979 — 207,979 — Settlement payable 160,550 — 160,550 — Total $ 5,188,025 $ — $ 5,188,025 $ —

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	6 Months Ended
	Jun. 30, 2024
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: (Dollars in Thousands) Depreciable Lives June 30, 2024 December 31, 2023 Land Indefinite $ 30,491 $ 30,099 Building and improvements 3 - 40 years 370,191 366,490 Poles 30 years 326,387 314,489 Fiber 30 years 5,040,626 4,835,623 Equipment 5 - 7 years 475,671 460,463 Copper 20 years 3,973,190 3,974,410 Conduit 30 years 90,117 90,087 Tower assets 20 years 1,220 1,221 Finance lease assets (1) 52,589 52,589 Other assets 15 - 20 years 10,436 10,436 Corporate assets 3 - 7 years 16,215 15,731 Construction in progress (1) 49,146 49,771 10,436,279 10,201,409 Less accumulated depreciation (6,343,480) (6,219,340) Net property, plant and equipment $ 4,092,799 $ 3,982,069 (1)

Derivative Instruments and He_2

Derivative Instruments and Hedging Activities (Tables)	6 Months Ended
	Jun. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Instruments	The following table presents the fair value of the Company’s derivatives designated as hedging instruments as of June 30, 2024 and December 31, 2023: (Thousands) Location on Condensed Consolidated Balance Sheets June 30, 2024 December 31, 2023 Interest rate caps Derivative asset $ 1,616 $ —
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)	The following table presents the effects of the Company’s derivative financial instrument on the Condensed Consolidated Statements of Income for the periods presented: (Thousands) Three Months Ended June 30, Six Months Ended June 30, Derivatives in Cash Flow Hedging Relationships (Interest Rate Caps) 2024 2023 2024 2023 Amount of gain recognized on derivative in Other Comprehensive Income $ 529 $ — $ 173 $ — Amount of gain reclassified from Accumulated Other Comprehensive Income into Interest Expense $ 226 $ — $ 37 $ — Total Amount of Interest Expense Presented in the Condensed Consolidated Statements of Income $ 127,475 $ 119,689 $ 250,686 $ 268,552

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets and Liabilities (Tables)	6 Months Ended
	Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Carrying Amount of Goodwill	Changes in the carrying amount of goodwill occurring during the six months ended June 30, 2024 are as follows: (Thousands) Uniti Fiber Total Goodwill at December 31, 2023 $ 672,878 $ 672,878 Accumulated impairment charges as of December 31, 2023 (515,498) (515,498) Balance at December 31, 2023 $ 157,380 $ 157,380 Goodwill at June 30, 2024 $ 672,878 $ 672,878 Accumulated impairment charges as of June 30, 2024 (515,498) (515,498) Balance at June 30, 2024 $ 157,380 $ 157,380 Carrying value of intangible assets and liabilities at June 30, 2024 and December 31, 2023 are as follows:
Schedule of Carrying Value of Other Intangible Assets	(Thousands) June 30, 2024 December 31, 2023 Original Cost Accumulated Amortization Original Cost Accumulated Finite life intangible assets: Customer lists $ 416,104 $ (162,935) $ 416,104 $ (151,542) Contracts 52,536 (24,626) 52,536 (21,343) Underlying Rights 10,497 (1,312) 10,497 (1,137) Total intangible assets $ 479,137 $ 479,137 Less: accumulated amortization (188,873) (174,022) Total intangible assets, net $ 290,264 $ 305,115 Finite life intangible liabilities: Below-market leases $ 191,154 $ (40,104) $ 191,154 $ (34,757) Finite life intangible liabilities: Below-market leases $ 191,154 $ 191,154 Less: accumulated amortization (40,104) (34,757) Total intangible liabilities, net $ 151,050 $ 156,397

Notes and Other Debt (Tables)

Notes and Other Debt (Tables)	6 Months Ended
	Jun. 30, 2024
Long-Term Debt, Unclassified [Abstract]
Schedule of Notes and Other Debt	Notes and other debt are as follows: (Thousands) June 30, 2024 December 31, 2023 Principal amount $ 5,861,500 $ 5,617,442 Less unamortized discount, premium and debt issuance costs (89,691) (93,863) Notes and other debt less unamortized discount, premium and debt issuance costs $ 5,771,809 $ 5,523,579 Notes and other debt at June 30, 2024 and December 31, 2023 consisted of the following: June 30, 2024 December 31, 2023 (Thousands) Principal Unamortized Discount, Premium and Debt Issuance Costs Principal Unamortized Discount, Premium and Debt Issuance Costs Senior secured notes - 10.50% due February 15, 2028 (discount is based on imputed interest rate of 10.99%) $ 2,900,000 $ (42,422) $ 2,600,000 $ (48,290) Senior secured notes - 4.75%, due April 15, 2028 (discount is based on imputed interest rate of 5.04%) 570,000 (5,687) 570,000 (6,360) Senior unsecured notes - 6.50%, due February 15, 2029 (discount is based on imputed interest rate of 6.83%) 1,110,000 (14,454) 1,110,000 (15,761) Senior unsecured notes - 6.00% due January 15, 2030 (discount is based on imputed interest rate of 6.27%) 700,000 (8,664) 700,000 (9,307) Exchangeable senior notes - 4.00%, due June 15, 2024 (discount is based on imputed interest rate of 4.77%) — — 122,942 (427) Convertible senior notes - 7.50%, due December 1, 2027 (discount is based on imputed interest rate of 8.29%) 306,500 (7,202) 306,500 (8,092) ABS Loan Facility, variable rate, due September 1, 2025 (discount is based on imputed interest rate of 10.33%) 275,000 (6,263) — — Senior secured revolving credit facility, variable rate, due September 24, 2027 (discount is based on imputed interest rate of 11.16%) — (4,999) 208,000 (5,625) Total $ 5,861,500 $ (89,691) $ 5,617,442 $ (93,863)

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2024
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) 2024 2023 2024 2023 Basic earnings per share: Numerator: Net income (loss) attributable to shareholders $ 18,278 $ 25,626 $ 59,607 $ 6,424 Less: Income allocated to participating securities (723) (322) (1,159) (569) Dividends declared on convertible preferred stock (5) (5) (10) (10) Net income (loss) attributable to common shares $ 17,550 $ 25,299 $ 58,438 $ 5,845 Denominator: Basic weighted-average common shares outstanding 237,347 236,429 237,121 236,260 Basic income (loss) earnings per common share $ 0.07 $ 0.11 $ 0.25 $ 0.02 Three Months Ended June 30, Six Months Ended June 30, (Thousands, except per share data) 2024 2023 2024 2023 Diluted earnings per share: Numerator: Net income (loss) attributable to shareholders $ 18,278 $ 25,626 $ 59,607 $ 6,424 Less: Income allocated to participating securities (723) (322) (1,159) (569) Dividends declared on convertible preferred stock (5) (5) (10) (10) Impact on if-converted dilutive securities — — — — Net income (loss) attributable to common shares $ 17,550 $ 25,299 $ 58,438 $ 5,845 Denominator: Basic weighted-average common shares outstanding 237,347 236,429 237,121 236,260 Effect of dilutive non-participating securities — — — — Impact on if-converted dilutive securities — — — — Weighted-average shares for dilutive earnings per common share 237,347 236,429 237,121 236,260 Dilutive earnings (loss) per common share $ 0.07 $ 0.11 $ 0.25 $ 0.02

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 30, 2024
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, 2024 and 2023: Three Months Ended June 30, 2024 (Thousands) Uniti Leasing Uniti Fiber Corporate Subtotal of Reportable Segments Revenues $ 218,286 $ 76,661 $ — $ 294,947 Adjusted EBITDA $ 210,853 $ 31,091 $ (5,285) $ 236,659 Less: Interest expense 127,475 Depreciation and amortization 44,613 33,425 14 78,052 Transaction related and other costs 10,977 Other, net 1,048 Stock-based compensation 3,397 Income tax benefit (2,571) Net income $ 18,281 Three Months Ended June 30, 2023 (Thousands) Uniti Leasing Uniti Fiber Corporate Subtotal of Reportable Segments Revenues $ 212,453 $ 71,245 $ — $ 283,698 Adjusted EBITDA $ 206,552 $ 25,181 $ (3,566) $ 228,167 Less: Interest expense 119,689 Depreciation and amortization 44,690 32,563 14 77,267 Transaction related and other costs 5,576 Other, net 469 Stock-based compensation 3,130 Income tax benefit (4,357) Adjustments for equity in earnings from unconsolidated entities 755 Net income $ 25,638

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (Tables)	6 Months Ended
	Jun. 30, 2024
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Schedule of Changes in Accumulated Other Comprehensive Loss by Component	Changes in accumulated other comprehensive loss by component is as follows for the three and six months ended June 30, 2024 and 2023: Three Months Ended June 30, Six Months Ended June 30, (Thousands) 2024 2023 2024 2023 Cash flow hedge: Balance at beginning of period attributable to shareholders $ (167) $ — $ — $ — Change in fair value of derivative asset 529 — 173 — Amounts reclassified from accumulated other comprehensive income (226) — (37) — Balance at end of period 136 — 136 — Less: Other comprehensive income attributable to noncontrolling interest 0 — 0 — Balance at end of period attributable to shareholders 136 — 136 — Accumulated other comprehensive income at end of period $ 136 $ — $ 136 $ —

Organization and Description _2

Organization and Description of Business (Details) $ / shares in Units, $ in Millions		6 Months Ended
	May 03, 2024 USD ($) director $ / shares	Jun. 30, 2024 segment
Organization And Description Of Business [Line Items]
Number of operating business segments | segment		2
Windstream Merger
Organization And Description Of Business [Line Items]
Number of board of directors | director	9
Business combination, consideration transferred | $	$ 425
Preferred stock, dividend rate, annual increase, percentage	1%
Preferred stock, liquidation preference, value | $	$ 575
Exercise price of warrants or rights (in dollars per share) | $ / shares	$ 0.01
Class of warrant or right, outstanding stock, percentage	6.90%
Windstream Merger | Maximum
Organization And Description Of Business [Line Items]
Preferred stock, dividend rate, percentage	16%
Windstream Merger | Period One
Organization And Description Of Business [Line Items]
Preferred stock, dividend rate, percentage	11%
Preferred stock, dividend rate, percentage, term	6 years
Windstream Merger | Period Two
Organization And Description Of Business [Line Items]
Preferred stock, dividend rate, percentage, term	7 years
Preferred stock, dividend rate, annual increase, percentage	0.50%
Windstream Merger | Period Three
Organization And Description Of Business [Line Items]
Preferred stock, dividend rate, percentage, term	8 years
Preferred stock, dividend rate, annual increase, percentage	0.50%
Windstream Merger | Uniti Group LP
Organization And Description Of Business [Line Items]
Number of directors to be appointed | director	5
Windstream Merger | Uniti Group L P Stockholders | Common Stock
Organization And Description Of Business [Line Items]
Percentage voting interest acquired	62%
Windstream Merger | Windstream Holdings II, LLC | Common Stock
Organization And Description Of Business [Line Items]
Percentage voting interest acquired	38%
Uniti Group LP
Organization And Description Of Business [Line Items]
Percentage of partnership interests owned		99.98%

Basis of Presentation and Sum_4

Basis of Presentation and Summary of Significant Accounting Policies - Restricted Cash and Cash Equivalents (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023	Jun. 30, 2023	Dec. 31, 2022
Accounting Policies [Abstract]
Cash and cash equivalents	$ 118,763	$ 62,264
Restricted cash and cash equivalents	12,728	0
Cash, restricted cash and cash equivalents at end of period	$ 131,491	$ 62,264	$ 38,145	$ 43,803

Basis of Presentation and Sum_5

Basis of Presentation and Summary of Significant Accounting Policies - Narrative (Details) - lease		6 Months Ended
	Sep. 18, 2020	Jun. 30, 2024	Jun. 30, 2023
Summary Of Significant Accounting Policies [Line Items]
Number of master leases	2
Concentration of Credit Risk | Revenue | Windstream
Summary Of Significant Accounting Policies [Line Items]
Master lease and the windstream leases revenue percentage		68.10%	66.90%

Revenues - Revenues Disaggregat

Revenues - Revenues Disaggregated by Revenue Stream (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Disaggregation Of Revenue [Line Items]
Total revenue from contracts with customers	$ 65,644	$ 59,846	$ 123,906	$ 117,749
Lease income - operating leases	229,303	223,852	457,459	455,771
Total revenues	294,947	283,698	581,365	573,520
Uniti Fiber
Disaggregation Of Revenue [Line Items]
Total revenue from contracts with customers	63,998	57,738	120,632	114,475
Lease income - operating leases	12,663	13,507	24,826	35,784
Uniti Fiber | Lit backhaul
Disaggregation Of Revenue [Line Items]
Total revenue from contracts with customers	22,645	19,453	40,367	38,975
Uniti Fiber | Enterprise and wholesale
Disaggregation Of Revenue [Line Items]
Total revenue from contracts with customers	24,327	23,410	51,220	45,986
Uniti Fiber | E-Rate and government
Disaggregation Of Revenue [Line Items]
Total revenue from contracts with customers	16,174	14,145	27,318	28,036
Uniti Fiber | Other
Disaggregation Of Revenue [Line Items]
Total revenue from contracts with customers	852	730	1,727	1,478
Uniti Leasing
Disaggregation Of Revenue [Line Items]
Total revenue from contracts with customers	1,646	2,108	3,274	3,274
Lease income - operating leases	$ 216,640	$ 210,345	$ 432,633	$ 419,987

Revenues - Narrative (Details)

Revenues - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Disaggregation Of Revenue [Line Items]
Accounts receivable, net	$ 56,654		$ 56,654		$ 46,358
Contract with customer, receivable, after allowance for credit loss	28,500		28,500		18,800
Revenue recognized that was included in the contract liability	1,300	$ 2,600	1,300	$ 2,600
Future revenues under contract	624,900		624,900
Operating Lease Receivable
Disaggregation Of Revenue [Line Items]
Accounts receivable, net	24,500		24,500		$ 22,000
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2024-07-01 | Billed Revenues
Disaggregation Of Revenue [Line Items]
Future revenues under contract	$ 552,200		$ 552,200
Average remaining contract term for contracts currently billing	3 years 2 months 12 days		3 years 2 months 12 days
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2024-07-01 | Unbilled Revenues
Disaggregation Of Revenue [Line Items]
Future revenues under contract	$ 72,700		$ 72,700
Average remaining contract term for contracts currently billing	5 years 3 months 18 days		5 years 3 months 18 days

Revenues - Schedule of Contract

Revenues - Schedule of Contract Assets and Contract Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Revenue from Contract with Customer [Abstract]
Contract Assets	$ 138	$ 26
Contract Liabilities	$ 9,780	$ 11,109

Leases - Narrative (Details)

Leases - Narrative (Details) $ in Millions	6 Months Ended
	Jun. 30, 2024 USD ($)
Leases [Line Items]
Short term lease commitments	$ 4.1
Minimum
Leases [Line Items]
Lessor, initial lease term	1 year
Lessor, lease renewal term	1 year
Lessor operating lease, termination	1 month
Lessee, initial lease term	1 year
Lessee, lease renewal term	1 year
Lessee operating lease, termination	1 month
Maximum
Leases [Line Items]
Lessor, initial lease term	35 years
Lessor, lease renewal term	20 years
Lessor operating lease, termination	6 months
Lessee, initial lease term	30 years
Lessee, lease renewal term	20 years
Lessee operating lease, termination	6 months

Leases - Components of Lease In

Leases - Components of Lease Income (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Leases [Abstract]
Lease income - operating leases	$ 229,303	$ 223,852	$ 457,459	$ 455,771

Leases - Lease Payments to be R

Leases - Lease Payments to be Received under Non-Cancellable Operating Leases (Details) $ in Thousands	Jun. 30, 2024 USD ($)
Lessee Lease Description [Line Items]
2024	$ 404,320
2025	828,753
2026	833,638
2027	834,405
2028	834,714
Thereafter	1,562,050
Total lease receivables	5,297,880
Total future minimum lease payments to be received	5,297,880
Windstream
Lessee Lease Description [Line Items]
Total lease receivables	4,500,000
Total future minimum lease payments to be received	$ 4,500,000

Leases - Schedule of Underlying

Leases - Schedule of Underlying Assets under Operating Leases (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Lessor Lease Description [Line Items]
Underlying assets under operating leases, gross	$ 8,812,469	$ 8,628,671
Less: accumulated depreciation	(5,770,081)	(5,690,066)
Underlying assets under operating leases, net	3,042,388	2,938,605
Land
Lessor Lease Description [Line Items]
Property, plant, and equipment, lessor asset under operating lease, before accumulated depreciation	26,518	26,533
Building and improvements
Lessor Lease Description [Line Items]
Property, plant, and equipment, lessor asset under operating lease, before accumulated depreciation	348,550	347,700
Poles
Lessor Lease Description [Line Items]
Property, plant, and equipment, lessor asset under operating lease, before accumulated depreciation	326,387	314,488
Fiber
Lessor Lease Description [Line Items]
Property, plant, and equipment, lessor asset under operating lease, before accumulated depreciation	4,034,889	3,862,635
Equipment
Lessor Lease Description [Line Items]
Property, plant, and equipment, lessor asset under operating lease, before accumulated depreciation	437	436
Copper
Lessor Lease Description [Line Items]
Property, plant, and equipment, lessor asset under operating lease, before accumulated depreciation	3,973,190	3,974,410
Conduit
Lessor Lease Description [Line Items]
Property, plant, and equipment, lessor asset under operating lease, before accumulated depreciation	90,116	90,087
Tower assets
Lessor Lease Description [Line Items]
Property, plant, and equipment, lessor asset under operating lease, before accumulated depreciation	58	58
Finance lease assets
Lessor Lease Description [Line Items]
Finance lease assets	1,890	1,890
Other assets
Lessor Lease Description [Line Items]
Property, plant, and equipment, lessor asset under operating lease, before accumulated depreciation	$ 10,434	$ 10,434

Leases - Schedule of Depreciati

Leases - Schedule of Depreciation Expense for Underlying Assets under Operating Leases (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Leases [Abstract]
Depreciation expense for underlying assets under operating leases	$ 45,643	$ 45,639	$ 91,648	$ 90,845

Leases - Future Lease Payments

Leases - Future Lease Payments under Non-Cancellable Leases (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Operating Leases
2024	$ 8,502
2025	16,850
2026	13,406
2027	10,651
2028	9,022
Thereafter	100,231
Total undiscounted lease payments	158,662
Less: imputed interest	(78,850)
Operating lease liabilities	79,812	$ 84,404
Finance Leases
2024	2,002
2025	4,003
2026	3,878
2027	3,171
2028	2,453
Thereafter	9,830
Total undiscounted lease payments	25,337
Less: imputed interest	(7,227)
Total lease liabilities	$ 18,110

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, 2024	Dec. 31, 2023	Dec. 07, 2022
Assets
Derivative asset	$ 1,616	$ 0
Total	1,616
Liabilities
Settlement payable	116,475	160,550,000
Total	5,043,777	5,188,025,000
Quoted Prices in Active Markets (Level 1)
Assets
Derivative asset	0
Total	0
Liabilities
Settlement payable	0	0
Total	0	0
Prices with Other Observable Inputs (Level 2)
Assets
Derivative asset	1,616
Total	1,616
Liabilities
Settlement payable	116,475	160,550,000
Total	5,043,777	5,188,025,000
Prices with Unobservable Inputs (Level 3)
Assets
Derivative asset	0
Total	0
Liabilities
Settlement payable	0	0
Total	0	0
Senior secured notes - 10.50%, due February 15, 2028 (see Note 9)
Liabilities
Senior notes	$ 2,809,315	2,624,596,000
Issuance senior notes, stated percentage	10.50%
Senior secured notes - 10.50%, due February 15, 2028 (see Note 9) | Quoted Prices in Active Markets (Level 1)
Liabilities
Senior notes	$ 0	0
Senior secured notes - 10.50%, due February 15, 2028 (see Note 9) | Prices with Other Observable Inputs (Level 2)
Liabilities
Senior notes	2,809,315	2,624,596,000
Senior secured notes - 10.50%, due February 15, 2028 (see Note 9) | Prices with Unobservable Inputs (Level 3)
Liabilities
Senior notes	0	0
Senior secured notes - 4.75%, due April 15, 2028
Liabilities
Senior notes	$ 461,636	488,205,000
Issuance senior notes, stated percentage	4.75%
Senior secured notes - 4.75%, due April 15, 2028 | Quoted Prices in Active Markets (Level 1)
Liabilities
Senior notes	$ 0	0
Senior secured notes - 4.75%, due April 15, 2028 | Prices with Other Observable Inputs (Level 2)
Liabilities
Senior notes	461,636	488,205,000
Senior secured notes - 4.75%, due April 15, 2028 | Prices with Unobservable Inputs (Level 3)
Liabilities
Senior notes	0	0
Senior unsecured notes - 6.50%, due February 15, 2029
Liabilities
Senior notes	$ 699,136	796,125,000
Issuance senior notes, stated percentage	6.50%
Senior unsecured notes - 6.50%, due February 15, 2029 | Quoted Prices in Active Markets (Level 1)
Liabilities
Senior notes	$ 0	0
Senior unsecured notes - 6.50%, due February 15, 2029 | Prices with Other Observable Inputs (Level 2)
Liabilities
Senior notes	699,136	796,125,000
Senior unsecured notes - 6.50%, due February 15, 2029 | Prices with Unobservable Inputs (Level 3)
Liabilities
Senior notes	0	0
Senior unsecured notes - 6.00%, due January 15, 2030
Liabilities
Senior notes	$ 414,660	486,675,000
Issuance senior notes, stated percentage	6%
Senior unsecured notes - 6.00%, due January 15, 2030 | Quoted Prices in Active Markets (Level 1)
Liabilities
Senior notes	$ 0	0
Senior unsecured notes - 6.00%, due January 15, 2030 | Prices with Other Observable Inputs (Level 2)
Liabilities
Senior notes	414,660	486,675,000
Senior unsecured notes - 6.00%, due January 15, 2030 | Prices with Unobservable Inputs (Level 3)
Liabilities
Senior notes	0	0
Convertible senior notes - 7.50% due December 1, 2027
Liabilities
Senior notes	$ 268,930	301,755,000
Issuance senior notes, stated percentage	7.50%		7.50%
Convertible senior notes - 7.50% due December 1, 2027 | Quoted Prices in Active Markets (Level 1)
Liabilities
Senior notes	$ 0	0
Convertible senior notes - 7.50% due December 1, 2027 | Prices with Other Observable Inputs (Level 2)
Liabilities
Senior notes	268,930	301,755,000
Convertible senior notes - 7.50% due December 1, 2027 | Prices with Unobservable Inputs (Level 3)
Liabilities
Senior notes	0	0
ABS Loan Facility, variable rate, due September 1, 2025
Liabilities
Senior notes	273,625
ABS Loan Facility, variable rate, due September 1, 2025 | Quoted Prices in Active Markets (Level 1)
Liabilities
Senior notes	0
ABS Loan Facility, variable rate, due September 1, 2025 | Prices with Other Observable Inputs (Level 2)
Liabilities
Senior notes	273,625
ABS Loan Facility, variable rate, due September 1, 2025 | Prices with Unobservable Inputs (Level 3)
Liabilities
Senior notes
Exchangeable senior notes - 4.00%, due June 15, 2024
Liabilities
Senior notes		122,140,000
Issuance senior notes, stated percentage	4%
Exchangeable senior notes - 4.00%, due June 15, 2024 | Quoted Prices in Active Markets (Level 1)
Liabilities
Senior notes		0
Exchangeable senior notes - 4.00%, due June 15, 2024 | Prices with Other Observable Inputs (Level 2)
Liabilities
Senior notes		122,140,000
Exchangeable senior notes - 4.00%, due June 15, 2024 | Prices with Unobservable Inputs (Level 3)
Liabilities
Senior notes
Senior secured revolving credit facility, variable rate, due September 24, 2027
Liabilities
Senior secured loan		207,979,000
Senior secured revolving credit facility, variable rate, due September 24, 2027 | Quoted Prices in Active Markets (Level 1)
Liabilities
Senior secured loan		0
Senior secured revolving credit facility, variable rate, due September 24, 2027 | Prices with Other Observable Inputs (Level 2)
Liabilities
Senior secured loan		207,979,000
Senior secured revolving credit facility, variable rate, due September 24, 2027 | Prices with Unobservable Inputs (Level 3)
Liabilities
Senior secured loan		$ 0

Fair Value of Financial Instr_4

Fair Value of Financial Instruments - Narrative (Details) $ in Thousands	Jun. 30, 2024 USD ($)	Dec. 31, 2023 USD ($)	Oct. 01, 2020 USD ($) installment
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Principal amount	$ 5,861,500	$ 5,617,442
Settlement payable (Note 12)	118,232	$ 163,583
Windstream Commitment
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Other commitment			$ 490,100
Number of installments | installment			20
Prices with Other Observable Inputs (Level 2)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Notes and other debt, fair value	$ 4,930,000

Property, Plant and Equipment -

Property, Plant and Equipment - Schedule of Carrying Value of Property, Plant and Equipment (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Property Plant And Equipment [Line Items]
Property, plant, and equipment and finance lease right-of-use asset	$ 10,436,279	$ 10,201,409
Less accumulated depreciation	(6,343,480)	(6,219,340)
Net property, plant and equipment	4,092,799	3,982,069
Land
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	30,491	30,099
Building and improvements
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	370,191	$ 366,490
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	326,387	$ 314,489
Fiber
Property Plant And Equipment [Line Items]
Depreciable Lives		30 years
Property, plant and equipment, gross	5,040,626	$ 4,835,623
Equipment
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	475,671	$ 460,463
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	3,973,190	$ 3,974,410
Conduit
Property Plant And Equipment [Line Items]
Depreciable Lives		30 years
Property, plant and equipment, gross	90,117	$ 90,087
Tower assets
Property Plant And Equipment [Line Items]
Depreciable Lives		20 years
Property, plant and equipment, gross	1,220	$ 1,221
Finance lease assets
Property Plant And Equipment [Line Items]
Finance lease assets	52,589	52,589
Other assets
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	10,436	$ 10,436
Other assets | Minimum
Property Plant And Equipment [Line Items]
Depreciable Lives		15 years
Other assets | Maximum
Property Plant And Equipment [Line Items]
Depreciable Lives		20 years
Corporate assets
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	16,215	$ 15,731
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	$ 49,146	$ 49,771

Property, Plant and Equipment_2

Property, Plant and Equipment - Narrative (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
	Jan. 31, 2024	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Property Plant And Equipment [Line Items]
Depreciation expense		$ 70,600	$ 69,800	$ 140,700	$ 139,200
Gain on sale of real estate	$ 19,000	$ 0	$ 0	$ 18,999	$ 0
Macquarie Asset Management | Disposal Group, Held-for-Sale, Not Discontinued Operations | CableSouth Transaction
Property Plant And Equipment [Line Items]
Cash consideration	$ 40,000

Derivative Instruments and He_3

Derivative Instruments and Hedging Activities - Narrative (Details) $ / shares in Units, $ in Thousands, shares in Millions		6 Months Ended
	Dec. 07, 2022 USD ($) $ / shares $ / Unit	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)	Mar. 01, 2024 USD ($)	Jun. 25, 2019 $ / shares shares
Derivative Instruments And Hedging Activities Disclosures [Line Items]
Cash flow hedge gain (loss) to be reclassified within 12 months		$ 200
Derivative cap price (in dollars per share) | $ / Unit	10.63
Sale of stock, percentage	75%
Sale of stock, price per share (in dollars per share) | $ / shares	$ 6.075
Termination of bond hedge option	$ 1,200	$ 0	$ 59
Counterparties 2019
Derivative Instruments And Hedging Activities Disclosures [Line Items]
Termination of bond hedge option	500
Convertible Debt
Derivative Instruments And Hedging Activities Disclosures [Line Items]
Payments for capped calls	$ 21,100
Common Stock Warrants
Derivative Instruments And Hedging Activities Disclosures [Line Items]
Exercise price of warrants or rights (in dollars per share) | $ / shares					$ 16.42
Maximum | Common Stock Warrants
Derivative Instruments And Hedging Activities Disclosures [Line Items]
Warrants (in shares) | shares					27.8
Maximum number of shares issued pursuant to warrants (in shares) | shares					55.5
Interest Rate Cap | Designated as Hedging Instrument
Derivative Instruments And Hedging Activities Disclosures [Line Items]
Derivative, notional value				$ 275,000
Derivative, cap interest rate				4.50%

Derivative Instruments and He_4

Derivative Instruments and Hedging Activities - Schedule of Derivatives (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Derivative Instruments And Hedging Activities Disclosures [Line Items]
Interest rate caps	$ 1,616	$ 0
Interest Rate Cap | Designated as Hedging Instrument
Derivative Instruments And Hedging Activities Disclosures [Line Items]
Interest rate caps	$ 1,616,000	$ 0

Derivative Instruments and He_5

Derivative Instruments and Hedging Activities - Schedule of Cash Flow Hedges on Condensed Consolidated Statements of Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Derivative Instruments And Hedging Activities Disclosures [Line Items]
Total Amount of Interest Expense Presented in the Condensed Consolidated Statements of Income	$ 127,475	$ 119,689	$ 250,686	$ 268,552
Interest Rate Cap
Derivative Instruments And Hedging Activities Disclosures [Line Items]
Amount of gain recognized on derivative in Other Comprehensive Income	529	0	173	0
Amount of gain reclassified from Accumulated Other Comprehensive Income into Interest Expense	$ 226	$ 0	$ 37	$ 0

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets and Liabilities - Schedule of Carrying Amount of Goodwill (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Goodwill [Line Items]
Goodwill gross	$ 672,878	$ 672,878
Accumulated impairment charges	(515,498)	(515,498)
Goodwill	157,380	157,380
Uniti Fiber
Goodwill [Line Items]
Goodwill gross	672,878	672,878
Accumulated impairment charges	(515,498)	(515,498)
Goodwill	$ 157,380	$ 157,380

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets and Liabilities - Schedule of Carrying Value of the Intangible Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Schedule Of Indefinite And Finite Lived Intangible Assets And Liabilities [Line Items]
Total intangible assets, original cost	$ 479,137	$ 479,137
Less: accumulated amortization	(188,873)	(174,022)
Total intangible assets, net	290,264	305,115
Less: accumulated amortization	(40,104)	(34,757)
Total intangible liabilities, net	151,050	156,397
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	(162,935)	(151,542)
Contracts
Schedule Of Indefinite And Finite Lived Intangible Assets And Liabilities [Line Items]
Finite life intangible assets, original cost	52,536	52,536
Less: accumulated amortization	(24,626)	(21,343)
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	(1,312)	(1,137)
Below-market leases
Schedule Of Indefinite And Finite Lived Intangible Assets And Liabilities [Line Items]
Total intangible liabilities	191,154	191,154
Less: accumulated amortization	$ (40,104)	$ (34,757)

Goodwill and Intangible Asset_5

Goodwill and Intangible Assets and Liabilities - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Goodwill [Line Items]
Remaining weighted average amortization period of intangible assets	13 years 1 month 6 days		13 years 1 month 6 days
Amortization of intangible assets	$ 7.4	$ 7.4	$ 14.9	$ 14.8
Estimated amortization expense for 2024	29.7		29.7
Estimated amortization expense for 2025	29.7		29.7
Estimated amortization expense for 2026	29.7		29.7
Estimated amortization expense for 2027	29.7		29.7
Estimated amortization expense for 2028	28.1		28.1
Revenue related to amortization of below-market leases	2.7	$ 2.6	$ 5.3	$ 5.3
Remaining weighted average amortization period of intangible liabilities			15 years 7 months 6 days
Estimated revenue due to amortization, 2024	10.7		$ 10.7
Estimated revenue due to amortization, 2025	10.7		10.7
Estimated revenue due to amortization, 2026	10.7		10.7
Estimated revenue due to amortization, 2027	10.7		10.7
Estimated revenue due to amortization, 2028	$ 10.2		$ 10.2
Customer lists
Goodwill [Line Items]
Remaining weighted average amortization period of intangible assets	13 years 7 months 6 days		13 years 7 months 6 days
Contracts
Goodwill [Line Items]
Remaining weighted average amortization period of intangible assets	4 years 3 months 18 days		4 years 3 months 18 days
Underlying Rights
Goodwill [Line Items]
Remaining weighted average amortization period of intangible assets	26 years 3 months 18 days		26 years 3 months 18 days

Notes and Other Debt - Schedule

Notes and Other Debt - Schedule of Notes and Other Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023	Feb. 14, 2023	Dec. 07, 2022
Debt Instrument [Line Items]
Principal amount	$ 5,861,500	$ 5,617,442
Less unamortized discount, premium and debt issuance costs	(89,691)	(93,863)
Notes and other debt less unamortized discount, premium and debt issuance costs	5,771,809	5,523,579
Senior secured notes - 10.50% due February 15, 2028 (discount is based on imputed interest rate of 10.99%)
Debt Instrument [Line Items]
Principal amount	2,900,000	2,600,000	$ 2,600,000
Less unamortized discount, premium and debt issuance costs	$ (42,422)	(48,290)
Issuance senior notes, stated percentage	10.50%
Effective interest rate	10.99%
Senior secured notes - 4.75%, due April 15, 2028 (discount is based on imputed interest rate of 5.04%)
Debt Instrument [Line Items]
Principal amount	$ 570,000	570,000
Less unamortized discount, premium and debt issuance costs	$ (5,687)	(6,360)
Issuance senior notes, stated percentage	4.75%
Effective interest rate	5.04%
Senior unsecured notes - 6.50%, due February 15, 2029 (discount is based on imputed interest rate of 6.83%)
Debt Instrument [Line Items]
Principal amount	$ 1,110,000	1,110,000
Less unamortized discount, premium and debt issuance costs	$ (14,454)	(15,761)
Issuance senior notes, stated percentage	6.50%
Effective interest rate	6.83%
Senior unsecured notes - 6.00% due January 15, 2030 (discount is based on imputed interest rate of 6.27%)
Debt Instrument [Line Items]
Principal amount	$ 700,000	700,000
Less unamortized discount, premium and debt issuance costs	$ (8,664)	(9,307)
Issuance senior notes, stated percentage	6%
Effective interest rate	6.27%
Exchangeable senior notes - 4.00%, due June 15, 2024 (discount is based on imputed interest rate of 4.77%)
Debt Instrument [Line Items]
Principal amount	$ 0	122,942
Less unamortized discount, premium and debt issuance costs	$ 0	(427)
Issuance senior notes, stated percentage	4%
Effective interest rate	4.77%
Convertible senior notes - 7.50% due December 1, 2027
Debt Instrument [Line Items]
Principal amount	$ 306,500	306,500
Less unamortized discount, premium and debt issuance costs	$ (7,202)	(8,092)
Issuance senior notes, stated percentage	7.50%			7.50%
Effective interest rate	8.29%
ABS Loan Facility, variable rate, due September 1, 2025 (discount is based on imputed interest rate of 10.33%)
Debt Instrument [Line Items]
Principal amount	$ 275,000	0
Less unamortized discount, premium and debt issuance costs	$ (6,263)	0
Effective interest rate	10.33%
Senior secured revolving credit facility, variable rate, due September 24, 2027
Debt Instrument [Line Items]
Principal amount	$ 0	208,000
Less unamortized discount, premium and debt issuance costs	$ (4,999)	$ (5,625)
Effective interest rate	11.16%

Notes and Other Debt - Narrativ

Notes and Other Debt - Narrative (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023	Feb. 14, 2023	Dec. 07, 2022
Debt Instrument [Line Items]
Principal amount	$ 5,861,500	$ 5,617,442
Senior secured revolving credit facility, variable rate, due September 24, 2027
Debt Instrument [Line Items]
Principal amount	0	208,000
ABS Loan Facility, variable rate, due September 1, 2025
Debt Instrument [Line Items]
Principal amount	275,000	0
Senior secured notes - 10.50% due February 15, 2028 (discount is based on imputed interest rate of 10.99%)
Debt Instrument [Line Items]
Principal amount	$ 2,900,000	2,600,000	$ 2,600,000
Issuance senior notes, stated percentage	10.50%
Senior secured notes - 4.75%, due April 15, 2028 (discount is based on imputed interest rate of 5.04%)
Debt Instrument [Line Items]
Principal amount	$ 570,000	570,000
Issuance senior notes, stated percentage	4.75%
Senior unsecured notes - 6.50%, due February 15, 2029 (discount is based on imputed interest rate of 6.83%)
Debt Instrument [Line Items]
Principal amount	$ 1,110,000	1,110,000
Issuance senior notes, stated percentage	6.50%
Senior unsecured notes - 6.00% due January 15, 2030 (discount is based on imputed interest rate of 6.27%)
Debt Instrument [Line Items]
Principal amount	$ 700,000	700,000
Issuance senior notes, stated percentage	6%
Convertible senior notes - 7.50% due December 1, 2027
Debt Instrument [Line Items]
Principal amount	$ 306,500	$ 306,500
Issuance senior notes, stated percentage	7.50%			7.50%
Uniti Group LP, Uniti Group Finance 2019 Inc. and CSL Capital, LLC | Senior secured revolving credit facility, variable rate, due September 24, 2027
Debt Instrument [Line Items]
Principal amount	$ 0

Notes and Other Debt - Credit A

Notes and Other Debt - Credit Agreement (Narrative) (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2024 USD ($) day	Dec. 31, 2023 USD ($)
Debt Instrument [Line Items]
Principal amount	$ 5,861,500	$ 5,617,442
Debt instrument, covenant, lease default period threshold | day	90
CSL Capital, LLC
Debt Instrument [Line Items]
Debt Instrument, debt default, amount	$ 75,000
Maximum
Debt Instrument [Line Items]
Debt instrument, covenant, secured leverage ratio	5%
Consolidated total leverage ratio	6.50%
Maximum | Pro Forma
Debt Instrument [Line Items]
Debt instrument, covenant, secured leverage ratio	4%
Extended Revolving Credit Facility
Debt Instrument [Line Items]
Principal amount	$ 500,000
Extended Revolving Credit Facility | Maximum | Base Rate
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	3.50%
Extended Revolving Credit Facility | Maximum | Secured Overnight Financing Rate (SOFR)
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	4.50%
Extended Revolving Credit Facility | Minimum | Base Rate
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	2.75%
Extended Revolving Credit Facility | Minimum | Secured Overnight Financing Rate (SOFR)
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	3.75%
Senior secured revolving credit facility, variable rate, due September 24, 2027
Debt Instrument [Line Items]
Principal amount	$ 0	$ 208,000
Commitment fee percentage of average amount of unused commitments	0.50%
Commitment fee step-down percentage of average amount of unused commitments	0.40%

Notes and Other Debt - Asset Ba

Notes and Other Debt - Asset Backed Loan Facility (Narrative) (Details) - USD ($) $ in Thousands			6 Months Ended
	Mar. 01, 2024	Feb. 23, 2024	Jun. 30, 2024	Jun. 30, 2023
Debt Instrument [Line Items]
Proceeds from ABS Loan Facility	$ 275,000		$ 275,000	$ 0
Debt instrument, months following closing date		15 months
ABS Credit Agreement | Line of Credit | Variable Rate Component One
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		2.75%
ABS Credit Agreement | Line of Credit | Variable Rate Component One | Secured Overnight Financing Rate (SOFR)
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		3.75%
ABS Credit Agreement | Line of Credit | Variable Rate Component Two
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		3.50%
ABS Credit Agreement | Line of Credit | Variable Rate Component Two | Secured Overnight Financing Rate (SOFR)
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		4.50%
ABS Credit Agreement | Line of Credit | Variable Rate Component Three
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		4.25%
ABS Credit Agreement | Line of Credit | Variable Rate Component Three | Secured Overnight Financing Rate (SOFR)
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		5.25%
ABS Credit Agreement | Line of Credit | Variable Rate Component Four
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		4.50%
Revolving Credit Facility | ABS Credit Agreement | Line of Credit
Debt Instrument [Line Items]
Line of credit, maximum borrowing capacity		$ 350,000
Debt instrument, term		18 months

Notes and Other Debt - Secured

Notes and Other Debt - Secured Notes (Narrative) (Details) $ in Thousands		3 Months Ended			6 Months Ended
	May 17, 2024 USD ($)	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)	Mar. 31, 2023 USD ($)	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)	Dec. 31, 2023 USD ($)	Feb. 14, 2023 USD ($)
Debt Instrument [Line Items]
Principal amount		$ 5,861,500			$ 5,861,500		$ 5,617,442
Gain (Loss) on extinguishment of debt					0	$ 31,187
Interest expense		127,475	$ 119,689		250,686	$ 268,552
February 2028 Secured Notes
Debt Instrument [Line Items]
Principal amount		$ 2,900,000			$ 2,900,000		$ 2,600,000	$ 2,600,000
Issuance senior notes, stated percentage		10.50%			10.50%
February 2028 Secured Notes | Secured Debt
Debt Instrument [Line Items]
Principal amount	$ 300,000
Issuance senior notes, stated percentage	10.50%
Issuance price, percentage	1.0300
Redemption price, percentage	100%
February 2028 Secured Notes | Secured Debt | Debt Instrument, Redemption, Period One
Debt Instrument [Line Items]
Redemption price, percentage	103%
Redemption price, percentage of principal amount redeemed	0.10
February 2028 Secured Notes | Secured Debt | Debt Instrument, Redemption, Period Two
Debt Instrument [Line Items]
Redemption price, percentage	110.50%
Redemption price, percentage of principal amount redeemed	0.40
February 2028 Secured Notes | Secured Debt | Debt Instrument, Redemption, Period Three
Debt Instrument [Line Items]
Redemption price, percentage	101%
Redemption price, percentage of principal amount redeemed	0.60
2025 Secured Notes | Uniti Group LP, Uniti Group Finance 2019 Inc. and CSL Capital, LLC
Debt Instrument [Line Items]
Principal amount								$ 2,250,000
Gain (Loss) on extinguishment of debt				$ (32,300)
Debt issuance costs, net				10,300
Interest expense				$ 22,000
2025 Secured Notes | Borrowers
Debt Instrument [Line Items]
Issuance senior notes, stated percentage								7.875%

Notes and Other Debt - Deferred

Notes and Other Debt - Deferred Financing Cost (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Debt Disclosure [Abstract]
Amortization of deferred financing costs	$ 6.1	$ 4.4	$ 11.1	$ 9.2

Notes and Other Debt - Exchange

Notes and Other Debt - Exchange Notes (Narrative) (Details) - USD ($) $ in Thousands		6 Months Ended
	Jun. 15, 2024	Jun. 30, 2024	Jun. 30, 2023
Debt Instrument [Line Items]
Repayment of debt		$ 122,942	$ 2,263,662
Exchangeable senior notes - 4.00%, due June 15, 2024 (discount is based on imputed interest rate of 4.77%)
Debt Instrument [Line Items]
Repayment of debt	$ 122,900

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, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Numerator:
Net income (loss) attributable to shareholders	$ 18,278	$ 25,626	$ 59,607	$ 6,424
Less: Income allocated to participating securities	723	322	1,159	569
Dividends declared on convertible preferred stock	(5)	(5)	(10)	(10)
Net income attributable to common shareholders	$ 17,550	$ 25,299	$ 58,438	$ 5,845
Denominator:
Basic weighted-average common shares outstanding (in shares)	237,347	236,429	237,121	236,260
Basic income (loss) earnings per common share (in dollars per share)	$ 0.07	$ 0.11	$ 0.25	$ 0.02
Numerator:
Net income (loss) attributable to shareholders	$ 18,278	$ 25,626	$ 59,607	$ 6,424
Less: Income allocated to participating securities	(723)	(322)	(1,159)	(569)
Dividends declared on convertible preferred stock	(5)	(5)	(10)	(10)
Impact on if-converted dilutive securities	0	0	0	0
Net income (loss) attributable to common shares	$ 17,550	$ 25,299	$ 58,438	$ 5,845
Denominator:
Basic weighted-average common shares outstanding (in shares)	237,347	236,429	237,121	236,260
Effect of dilutive non-participating securities (in shares)	0	0	0	0
Impact on if-converted dilutive securities (in shares)	0	0	0	0
Weighted-average shares for dilutive earnings per common share (in shares)	237,347	236,429	237,121	236,260
Dilutive earnings (loss) per common share (in dollars per share)	$ 0.07	$ 0.11	$ 0.25	$ 0.02

Earnings Per Share - Narrative

Earnings Per Share - Narrative (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Non-Participating Securities
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilution adjustments (in shares)	1,412,563	1,053,189	1,412,563	1,053,189
Convertible Debt Securities
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilution adjustments (in shares)	52,910,874	53,455,231	54,070,019	54,082,264

Segment Information - Narrative

Segment Information - Narrative (Details)	6 Months Ended
	Jun. 30, 2024 segment
Segment Reporting [Abstract]
Number of reportable business segments	2

Segment Information - Schedule

Segment Information - Schedule of Segment Reporting Information (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
	Jan. 31, 2024	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Segment Reporting Information [Line Items]
Revenues		$ 294,947	$ 283,698	$ 581,365	$ 573,520
Adjusted EBITDA		236,659	228,167	465,287	459,368
Interest expense		127,475	119,689	250,686	268,552
Depreciation and amortization		78,052	77,267	155,537	154,042
Transaction related and other costs		10,977	5,576	16,664	8,364
Gain on sale of real estate	$ (19,000)	0	0	(18,999)	0
Other, net		1,048	469	2,959	20,982
Stock-based compensation		3,397	3,130	6,745	6,260
Income tax benefit		(2,571)	(4,357)	(7,934)	(6,769)
Adjustments for equity in earnings from unconsolidated entities			755		1,510
Net income		18,281	25,638	59,629	6,427
Corporate
Segment Reporting Information [Line Items]
Adjusted EBITDA		(5,285)	(3,566)	(11,172)	(11,005)
Depreciation and amortization		14	14	27	30
Uniti Leasing | Operating Segments
Segment Reporting Information [Line Items]
Revenues		218,286	212,453	435,907	423,261
Adjusted EBITDA		210,853	206,552	421,530	411,518
Depreciation and amortization		44,613	44,690	89,593	88,862
Uniti Fiber | Operating Segments
Segment Reporting Information [Line Items]
Revenues		76,661	71,245	145,458	150,259
Adjusted EBITDA		31,091	25,181	54,929	58,855
Depreciation and amortization		$ 33,425	$ 32,563	$ 65,917	$ 65,150

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Millions	6 Months Ended
	Jun. 30, 2024 USD ($) day	Oct. 01, 2020 USD ($) installment
Commitments And Contingencies [Line Items]
Other commitment, reimbursement default period threshold | day	30
Windstream Commitment
Commitments And Contingencies [Line Items]
Other commitment		$ 490.1
Number of installments | installment		20
Percentage of committed purchase of assets		9%
First five quarterly cash payments to be made after emergence	$ 362.4
Windstream Commitment, Growth Capital Improvements
Commitments And Contingencies [Line Items]
Other commitment		$ 1,750
Growth capital improvements fund annual limit	250
Growth capital improvements reimbursement amount	196.7
New lease, aggregate reimbursements made for certain growth capital improvements	104.6
Growth capital improvements reimbursement amount made to date	$ 1,000
Windstream Commitment, Growth Capital Improvements | Maximum
Commitments And Contingencies [Line Items]
Other commitment, to be paid, year one		225
Other commitment, to be paid, year two		225
Other commitment, to be paid, year three		225
Other commitment, to be paid, year four		225
Other commitment, to be paid, year five		175
Other commitment, to be paid, year six		175
Other commitment, to be paid, year seven		125
Other commitment, to be paid, year eight		125
Other commitment, to be paid, year nine		125
Windstream Commitments, Growth Capital Improvements, Cost Reimbursements
Commitments And Contingencies [Line Items]
Other commitment		$ 70
Windstream Commitments, Equipment Loan and Security Agreements
Commitments And Contingencies [Line Items]
Accrued interest rate for borrowing	8%
Windstream Commitments, Equipment Loan and Security Agreements | Maximum
Commitments And Contingencies [Line Items]
Other commitment	$ 125
New lease, aggregate reimbursements made for certain growth capital improvements	$ 25
Windstream
Commitments And Contingencies [Line Items]
Annual rent adjustment for Growth Capital Funding	8%
Rate used for rent percentage	100.50%
Maximum funding rights allocated per year upon transfer of interests under Windstream lease	$ 20

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	$ (2,477,483)	$ (2,324,175)	$ (2,484,121)	$ (2,271,206)
Other comprehensive income	303	0	136	0
Ending balance	(2,492,414)	(2,331,244)	(2,492,414)	(2,331,244)
Cash flow hedge changes in fair value | Interest Rate Swap
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Unrealized gain on valuation of interest rate cap	529	0	173	0
Amounts reclassified from accumulated other comprehensive income	(226)	0	(37)	0
Other comprehensive income	136	0	136	0
Accumulated Other Comprehensive Income (Loss)
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(167)	0	0	0
Other comprehensive income	303		136
Ending balance	136	0	136	0
Interest rate swap termination, noncontrolling interest
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Other comprehensive income	$ 0	$ 0	$ 0	$ 0

Capital Stock (Details)

Capital Stock (Details)	3 Months Ended	6 Months Ended
	Jun. 30, 2024 USD ($) shares	Jun. 30, 2024 USD ($) shares
Schedule Of Capitalization Equity [Line Items]
Conversion of stock, ratio		1
Exchange of noncontrolling interest (in shares) | shares	68,384	68,384
Percentage of units exchanged held by third parties	65%	65%
Noncontrolling Interest - OP Units
Schedule Of Capitalization Equity [Line Items]
Exchange of noncontrolling interest	$ 1,300,000	$ 1,300,000
Common Share Exchange
Schedule Of Capitalization Equity [Line Items]
Exchange of noncontrolling interest	$ 53,662	$ 53,662
Cash Share Exchange
Schedule Of Capitalization Equity [Line Items]
Exchange of noncontrolling interest (in shares) | shares	14,722	14,722
Cash Share Exchange | Noncontrolling Interest - OP Units
Schedule Of Capitalization Equity [Line Items]
Exchange of noncontrolling interest	$ 100,000
Cash Share Purchase | Noncontrolling Interest - OP Units
Schedule Of Capitalization Equity [Line Items]
Exchange of noncontrolling interest		$ 100,000