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Leases (Tables)
9 Months Ended
Sep. 30, 2022
Leases [Abstract]  
Components of Lease Income
The components of lease income for the three and nine months ended September 30, 2022 and 2021, respectively, are as follows:
Three Months Ended September 30,Nine Months Ended September 30,
(Thousands)2022202120222021
Lease income - operating leases$224,562 $211,089 $668,754 $622,408 
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 September 30, 2022 are as follows:
(Thousands)September 30, 2022⁽¹⁾
2022$191,496 
2023777,937 
2024784,400 
2025785,568 
2026787,169 
Thereafter3,066,497 
Total lease receivables$6,393,067 
(1) Total future minimum lease payments to be received include $5.5 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)September 30, 2022December 31, 2021
Land$26,550 $26,593 
Building and improvements344,836 343,624 
Poles293,504 281,130 
Fiber3,465,878 3,278,276 
Equipment428 428 
Copper3,955,180 3,918,281 
Conduit89,925 89,859 
Tower assets1,397 1,397 
Finance lease assets28,126 28,126 
Other assets10,434 10,649 
8,216,258 7,978,363 
Less: accumulated depreciation(5,502,245)(5,391,479)
Underlying assets under operating leases, net$2,714,013 $2,586,884 
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 nine months ended September 30, 2022 and 2021, respectively, is summarized as follows:
Three Months Ended September 30,Nine Months Ended September 30,
(Thousands)2022202120222021
Depreciation expense for underlying assets under operating leases$44,127 $44,763 $130,858 $134,783 
Future Lease Payments Under Non-Cancellable Operating Leases
Future lease payments under non-cancellable leases as of September 30, 2022 are as follows:
(Thousands)Operating Leases Finance Leases
2022$4,079 $625 
202315,588 2,497 
202413,201 2,307 
202510,529 2,254 
20267,739 2,254 
Thereafter47,463 14,878 
Total undiscounted lease payments$98,599 $24,815 
Less: imputed interest(33,918)(9,246)
Total lease liabilities$64,681 $15,569 
Future Lease Payments Under Non-Cancellable Finance Leases
Future lease payments under non-cancellable leases as of September 30, 2022 are as follows:
(Thousands)Operating Leases Finance Leases
2022$4,079 $625 
202315,588 2,497 
202413,201 2,307 
202510,529 2,254 
20267,739 2,254 
Thereafter47,463 14,878 
Total undiscounted lease payments$98,599 $24,815 
Less: imputed interest(33,918)(9,246)
Total lease liabilities$64,681 $15,569