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Real Property Interests (Tables)

12 Months Ended

Dec. 31, 2020

Real property interests, net consisted of the following:

	Successor			Predecessor
	December 31, 2020			December 31, 2019
Right-of-use assets – finance leases⁽¹⁾	$	244,885		$	81,733
Cell site leasehold interests ⁽²⁾		886,679			468,969
		1,131,564			550,702
Less accumulated amortization:
Right-of-use assets – finance leases		(7,023	)		(1,235	)
Cell site leasehold interests		(35,150	)		(122,307	)
Real property interests, net	$	1,089,391		$	427,160

(1)

Effective with the adoption of ASC 842, cell site leasehold interests qualifying as leases are recorded as finance leases.

(2)

Includes cell site leasehold interests acquired prior to the adoption of ASC 842 and fee simple interest arrangements.

Summary of Finance Lease Expense and Interest Expense Associated with Lease Liability in Condensed Statement of Operations

The Company recorded finance lease expense and interest expense associated with the lease liability in the consolidated statements of operations as follows:

	Successor		Predecessor
	Period from February 10, 2020 to December 31, 2020		Period from January 1, 2020 to February 9, 2020		Year ended December 31, 2019
Finance lease expense	$	6,922	$	425	$	1,235
Interest expense – lease liability	$	518	$	95	$	504

Schedule of Supplemental Cash Flow Information

Supplemental cash flow information for the respective periods was as follows:

	Successor		Predecessor
	Period from February 10 to December 31, 2020		Period from January 1 to February 9, 2020		Year ended December 31, 2019
Cash paid for amounts included in the measurement of finance lease liabilities:
Operating cash flows from finance leases	$	134	$	37	$	38
Financing cash flows from finance leases	$	6,044	$	845	$	1,255
Finance lease liabilities arising from obtaining right-of-use assets	$	19,312	$	1,346	$	16,989

Schedule of Amortization Expense To Be Recognized for Each of Succeeding Five Years

As of December 31, 2020 (Successor), the intangible asset amortization expense to be recognized for each of the succeeding five years was as follows:

2021	$	1,087
2022		805
2023		671
2024		564
2025		466
Thereafter		2,287
	$	5,880

Schedule of Maturities of Finance Lease Liabilities and Cell Site Leasehold Interest Liabilities

Maturities of finance lease liabilities and cell site leasehold interest liabilities as of December 31, 2020 (Successor) were as follows:

	Finance Lease			Cell Site Leasehold Interest
2021	$	10,042		$	5,820
2022		7,796			3,095
2023		7,644			8,384
2024		4,398			424
2025		2,701			234
Thereafter		3,432			347
Total lease payments		36,013			18,304
Less amounts representing future interest		(2,168	)		(742	)
Total liability		33,845			17,562
Less current portion		(9,920	)		(5,749	)
Non-current liability	$	23,925		$	11,813

Cell Site Leasehold Interests

Schedule of Amortization Expense To Be Recognized for Each of Succeeding Five Years

As of December 31, 2020 (Successor), amortization expense to be recognized for each of the succeeding five years was as follows:

2021	$	44,217
2022		44,076
2023		44,006
2024		44,006
2025		43,986
Thereafter		631,238
	$	851,529