Segment Information (Tables)

12 Months Ended

Dec. 31, 2019

Segment Reporting [Abstract]

Schedule of Segment Reporting Information

Selected financial data related to our segments is presented below for the years ended December 31, 2019, 2018 and 2017:

	Year Ended December 31, 2019
(Thousands)	Leasing			Fiber Infrastructure			Towers			Consumer CLEC			Corporate			Total of Reportable Segments
Revenues	$	716,640		$	315,605		$	14,693		$	10,673		$	-		$	1,057,611
Adjusted EBITDA	$	711,119		$	126,754		$	(595	)	$	1,955		$	(26,494	)	$	812,739
Adjusted EBITDA margin		99.2	%		40.2	%		(4.0	%)		18.3	%	-				76.8	%
Less:
Interest expense, net																	390,112
Depreciation and amortization		282,107			114,566			6,474			1,879			728			405,754
Other income, net																	(24,219	)
Transaction related and other costs																	43,708
Gain on sale of real estate																	(28,995	)
Stock-based compensation																	10,808
Income tax expense																	4,663
Net income																$	10,908
Capital expenditures (1)	$	338,543		$	233,506		$	99,234		$	-		$	15		$	671,298

	Year Ended December 31, 2018
(Thousands)	Leasing			Fiber Infrastructure			Towers			Consumer CLEC			Corporate			Total of Reportable Segments
Revenues	$	699,847		$	289,239		$	14,617		$	13,931		$	-		$	1,017,634
Adjusted EBITDA	$	697,545		$	123,389		$	355		$	3,353		$	(21,759	)	$	802,883
Adjusted EBITDA margin		99.7	%		42.7	%		2.4	%		24.1	%	-				78.9	%
Less:
Interest expense, net																	319,591
Depreciation and amortization		337,126			105,651			6,704			1,994			275			451,750
Other income, net																	(4,504	)
Transaction related and other costs																	17,410
Stock-based compensation																	8,064
Income tax benefit																	(5,421	)
Other																	(552	)
Net income																$	16,545
Capital expenditures (1)	$	152,140		$	199,689		$	74,932		$	-		$	114		$	426,875

	Year Ended December 31, 2017
(Thousands)	Leasing			Fiber Infrastructure			Towers			Consumer CLEC			Corporate			Total of Reportable Segments
Revenues	$	685,099		$	202,791		$	10,055		$	18,087		$	-		$	916,032
Adjusted EBITDA	$	683,651		$	83,987		$	(831	)	$	4,556		$	(21,839	)	$	749,524
Adjusted EBITDA margin		99.8	%		41.4	%		(8.3	%)		25.2	%	-				81.8	%
Less:
Interest expense, net																	305,994
Depreciation and amortization		347,999			78,307			4,907			2,607			385			434,205
Other expense																	11,284
Transaction related and other costs																	38,005
Stock-based compensation																	7,713
Income tax benefit																	(38,849	)
Net loss																$	(8,828	)
Capital expenditures (1)	$	-		$	152,918		$	104,540		$	-		$	63		$	257,521

(1) Segment capital expenditures represents capital expenditures, the Bluebird and NMS asset acquisitions (see Note 6) and ground lease investments as reported in the investing activities section of the Consolidated Statement of Cash Flows.

Summary of Total Assets by Business Segment

Total assets by business segment as of December 31, 2019 and December 31, 2018 are as follows:

	December 31,
(Thousands)		2019		2018
Leasing	$	2,341,734	$	2,119,045
Fiber Infrastructure		2,362,267		2,194,311
Towers		235,888		231,749
Consumer CLEC		10,687		10,374
Corporate		66,424		37,458
Total of reportable segments	$	5,017,000	$	4,592,937