Supplementary Unrestricted Subsidiary Information

3 Months Ended

Mar. 31, 2025

Condensed Financial Information Disclosure [Abstract]

Supplementary Unrestricted Subsidiary Information

Supplementary Unrestricted Subsidiary InformationDuring 2024, we formed the ABS Parent and the ABS Bridge Loan Parties, each an indirect, bankruptcy-remote subsidiary of the Company, and we designated ABS Parent and the ABS Bridge Loan Parties as unrestricted subsidiaries under the Credit Agreement and the applicable indentures governing the Company’s outstanding senior notes. During 2025, we formed the ABS Notes Obligors (other than Uniti Fiber GulfCo LLC, which was formed in 2024), each a subsidiary of ABS Parent and an indirect, bankruptcy-remote subsidiary of the Company. Each ABS Notes Obligor is an unrestricted subsidiary under the Credit Agreement and the applicable indentures governing the Company’s senior notes. See Note 8.

Below are the Consolidated Balance Sheets as of March 31, 2025 and 2024, and the Consolidated Statements of Income for the three months ended March 31, 2025 and 2024, respectively, of such unrestricted subsidiaries (in thousands):

	As of March 31, 2025
(Thousands)	Unrestricted Subsidiaries		Restricted Subsidiaries		Eliminations		Consolidated
Assets:
Property, plant and equipment, net	$	445,061	$	3,837,298	$	—	$	4,282,359
Cash and cash equivalents	1,287		90,669		—		91,956
Restricted cash and cash equivalents	38,214		105		—		38,319
Accounts receivable, net	14,996		48,008		(19,243)		43,761
Goodwill	—		157,380		—		157,380
Intangible assets, net	—		267,988		—		267,988
Straight-line revenue receivable	1,800		110,629		—		112,429
Operating lease right-of-use assets, net	—		126,410		—		126,410
Other assets, net	21,251		(76,911)		94,521		38,861
Deferred income tax assets, net	—		132,951		—		132,951
Total Assets	$	522,609	$	4,694,527	$	75,278	$	5,292,414
Liabilities and Shareholders' Deficit
Liabilities:
Accounts payable, accrued expenses and other liabilities, net	$	12,251	$	86,670	$	(19,243)	$	79,678
Settlement payable	—		48,142		—		48,142
Intangible liabilities, net	—		143,030		—		143,030
Accrued interest payable	6,124		50,898		—		57,022
Deferred revenue	57,272		1,287,734		(10,536)		1,334,470
Dividends payable	—		277		—		277
Operating lease liabilities	—		80,399		—		80,399
Finance lease obligations	—		16,446		—		16,446
Notes and other debt, net	576,866		5,414,789		(21,251)		5,970,404
Total liabilities	652,513		7,128,385		(51,030)		7,729,868
Shareholders' Deficit:
Total shareholders' deficit	(129,904)		(2,433,858)		126,308		(2,437,454)
Total Liabilities and Shareholders' Deficit	$	522,609	$	4,694,527	$	75,278	$	5,292,414

	As of December 31, 2024
(Thousands)	Unrestricted Subsidiaries		Restricted Subsidiaries		Eliminations		Consolidated
Assets:
Property, plant and equipment, net	$	446,498	$	3,763,249	$	—	$	4,209,747
Cash and cash equivalents	1,743		153,850		—		155,593
Restricted cash and cash equivalents	28,149		105		—		28,254
Accounts receivable, net	9,032		46,309		(3,923)		51,418
Goodwill	—		157,380		—		157,380
Intangible assets, net	—		275,414		—		275,414
Straight-line revenue receivable	798		108,072		—		108,870
Operating lease right-of-use assets, net	—		126,791		—		126,791
Other assets, net	77		211,031		(170,475)		40,633
Deferred income tax assets, net	—		128,045		—		128,045
Total Assets	$	486,297	$	4,970,246	$	(174,398)	$	5,282,145
Liabilities and Shareholders' Deficit
Liabilities:
Accounts payable, accrued expenses and other liabilities, net	$	3,386	$	90,225	$	(3,923)	$	89,688
Settlement payable	—		71,785		—		71,785
Intangible liabilities, net	—		145,703		—		145,703
Accrued interest payable	921		142,980		—		143,901
Deferred revenue	43,521		1,357,431		—		1,400,952
Dividends payable	—		665		—		665
Operating lease liabilities	—		80,504		—		80,504
Finance lease obligations	—		17,190		—		17,190
Notes and other debt, net	271,329		5,512,268		—		5,783,597
Total liabilities	319,157		7,418,751		(3,923)		7,733,985
Shareholders' Deficit:
Total shareholders' deficit	167,140		(2,448,505)		(170,475)		(2,451,840)
Total Liabilities and Shareholders' Deficit	$	486,297	$	4,970,246	$	(174,398)	$	5,282,145

	Three Months Ended March 31, 2025
(Thousands)	Unrestricted Subsidiaries		Restricted Subsidiaries		Eliminations		Consolidated
Total Revenues	$	32,025	$	273,349	$	(11,465)	$	293,909
Costs and Expenses:
Interest expense, net	12,296		125,691		—		137,987
Depreciation and amortization	5,790		73,893		—		79,683
General and administrative expense	5,010		25,285		(1,986)		28,309
Operating expense (exclusive of depreciation, accretion and amortization)	9,308		32,552		(9,479)		32,381
Transaction related and other costs	—		7,847		—		7,847
Total costs and expenses	32,404		265,268		(11,465)		286,207
Income (loss) before income taxes and equity in earnings from unconsolidated entities	(379)		8,081		—		7,702
Income tax benefit	—		(4,518)		—		(4,518)
Net income (loss)	$	(379)	$	12,599	$	—	$	12,220

	Three Months Ended March 31, 2024
(Thousands)	Unrestricted Subsidiaries		Restricted Subsidiaries		Eliminations		Consolidated
Total Revenues	$	5,581	$	280,837	$	—	$	286,418
Costs and Expenses:
Interest expense, net	2,295		120,916		—		123,211
Depreciation and amortization	—		77,485		—		77,485
General and administrative expense	72		28,061		—		28,133
Operating expense (exclusive of depreciation, accretion and amortization)	—		35,198		—		35,198
Transaction related and other costs	—		5,687		—		5,687
Gain on sale of real estate	—		(18,999)		—		(18,999)
Other (income) expense, net	—		(282)		—		(282)
Total costs and expenses	2,367		248,066		—		250,433
Income (loss) before income taxes and equity in earnings from unconsolidated entities	3,214		32,771		—		35,985
Income tax benefit	—		(5,363)		—		(5,363)
Net income (loss)	$	3,214	$	38,134	$	—	$	41,348