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Schedule III - Real Estate Investments and Accumulated Depreciation
 12 Months Ended
Dec. 31, 2024
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]  
Schedule III - Real Estate Investments and Accumulated Depreciation
Uniti Group Inc.
Schedule III – Real Estate Investments and Accumulated Depreciation
As of December 31, 2024
(dollars in thousands)
Col. ACol. BCol. CCol. DCol. ECol. FCol. GCol. HCol. I
Cost capitalized subsequent to acquisition(1) (3)
    Life on which Depreciation in Latest Income
DescriptionEncumbrances
Initial cost to company(1)
ImprovementsCarry Costs
Gross Amount Carried at Close of Period(5)
Accumulated Depreciation
Date of Construction(2)
Date Acquired(2)
Statements is Computed
Land$— (1)(1)(1)$26,711 $— (2)(2)Indefinite
Building and improvements— (1)(1)(1)350,829 219,952 (2)(2)
3 - 40 years
Poles— (1)(1)(1)341,548 208,071 (2)(2)30 years
Fiber— (1)(1)(1)3,974,475 1,793,513 (2)(2)30 years
Copper— (1)(1)(1)3,972,806 3,501,166 (2)(2)20 years
Conduit— (1)(1)(1)90,193 75,320 (2)(2)30 years
Towers— (1)(1)(1)58 24 (2)(2)20 years
Other assets— (1)(1)(1)10,432 5,655 (2)(2)
15 - 20 years
Construction in progress— (1)(1)(1)4,639 — (2)(2)See Note 3
(1)Given the voluminous nature and variety of our real estate investment assets, this schedule omits columns C and D from the schedule III presentation.
(2)Because additions and improvements to our real estate investment assets are ongoing, construction and acquisition dates are not applicable.
(3)For the year ended December 31, 2024, the amount of capitalized costs related to the Distribution Systems is as follows (millions):
Tenant capital improvements(4)
$263.1 
Growth capital improvements(5)
$230.8 
(4)Tenant capital improvements (“TCIs”) represent, maintenance, repair, overbuild, upgrade or replacements to the leased network, including, without limitation, the replacement of copper distribution systems with fiber distribution systems. We receive non-monetary consideration related to the TCIs as they automatically become our property, and we recognize the cost basis of TCIs that are capital in nature.
(5)Pursuant to the Windstream Leases, Windstream (or any successor tenant under a Windstream Lease) has the right to cause Uniti to reimburse up to an aggregate $1.75 billion for certain Growth Capital Improvements in long-term value accretive fiber and related assets made by Windstream (or the applicable tenant under the Windstream Lease) to certain ILEC and CLEC properties.
(6)Aggregate cost for Federal income tax purposes related to our real estate investment assets is $7.9 billion.
Uniti Group Inc.
Schedule III – Real Estate Investments and Accumulated Depreciation
As of December 31, 2024
(dollars in thousands)
20242023
Gross amount at beginning$8,395,630 $8,066,830 
Additions during period:  
Tenant capital improvements(1)
158,523 132,622 
Growth capital improvements(1)
230,815 250,000 
Acquisitions11,128 28,244 
Other— — 
Total additions400,466 410,866 
  
Deductions during period:  
Cost of real estate sold or disposed24,405 25,004 
Other— 57,062 
Total deductions24,405 82,066 
Balance at end$8,771,691 $8,395,630 
(1) During the year ended December 31, 2024, TCIs totaled $263.1 million, offset by $104.6 million which represented the reimbursement of Growth Capital Improvements completed in 2023 that were previously classified as TCIs and are included within the Growth Capital Improvement additions of $230.8 million.
20242023
Gross amount of accumulated depreciation at beginning$5,649,568 $5,509,904 
Additions during period:
Depreciation178,075 175,085 
Other— — 
Total additions178,075 175,085 
Deductions during period:
Amount of accumulated depreciation for assets sold or disposed23,942 24,587 
Other— 10,834 
Total deductions23,942 35,421 
Balance at end$5,803,701 $5,649,568