Real Property Interests (Tables)

3 Months Ended

Mar. 31, 2022

Summary of Real Property Interests, Net

Real property interests, net consisted of the following:

	March 31, 2022			December 31, 2021
Right-of-use assets – finance leases	$	339,882		$	319,457
Telecom real property interests		1,320,185			1,257,373
		1,660,067			1,576,830
Less accumulated amortization:
Right-of-use assets - finance leases		(20,921	)		(17,592	)
Telecom real property interests		(97,612	)		(83,187	)
Real property interests, net	$	1,541,534		$	1,476,051

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 finance lease liabilities in the condensed consolidated statements of operations as follows:

	Three months ended March 31, 2022		Three months ended March 31, 2021
Finance lease expense	$	3,598	$	2,391
Interest expense – lease liability	$	256	$	185

Schedule of Supplemental Cash Flow Information Related to Finance Leases

Supplemental cash flow information related to finance leases for the respective periods was as follows:

	Three months ended March 31, 2022		Three months ended March 31, 2021
Cash paid for amounts included in the measurement of finance lease liabilities:
Operating cash flows from finance leases	$	136	$	62
Financing cash flows from finance leases	$	3,170	$	2,632
Finance lease liabilities arising from obtaining right-of-use assets	$	3,565	$	3,659

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

As of March 31, 2022, the intangible asset amortization expense to be recognized for each of the succeeding five years was as follows:

Remainder of 2022	$	1,002
2023		1,166
2024		1,009
2025		869
2026		761
Thereafter		3,288
	$	8,095

Schedule of Maturity of Finance Lease Liabilities and Telecom Real Property Interest Liabilities

Maturities of finance lease liabilities and telecom real property interest liabilities as of March 31, 2022 were as follows:

	Finance Lease			Telecom Real Property Interest
Remainder of 2022	$	8,311		$	2,569
2023		12,213			8,576
2024		6,486			3,730
2025		4,296			402
2026		3,126			368
Thereafter		4,191			558
Total lease payments		38,623			16,203
Less amounts representing future interest		(2,752	)		(645	)
Total liability		35,871			15,558
Less current portion		(12,656	)		(5,779	)
Non-current liability	$	23,215		$	9,779

Telecom Real Property Interests

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

As of March 31, 2022, amortization expense to be recognized for each of the succeeding five years was as follows:

Remainder of 2022	$	48,100
2023		63,579
2024		63,579
2025		63,052
2026		63,052
Thereafter		921,211
	$	1,222,573