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Segments
 9 Months Ended
Sep. 30, 2025
Segment Reporting [Abstract]  
Segments Segments:
Following the completion of the Merger, we updated our segment structure to include new operating segments for the acquired Windstream businesses, combined the legacy fiber and leasing businesses into a new segment and no longer reported corporate separately. Prior period segment information has been recast to reflect these changes for all periods presented.

The Company’s segments are determined based on the current organizational and management structure in place and the internal financial information regularly reviewed and used by the chief operating decision maker (“CODM”) for making operating decisions and assessing performance. Our Chief Executive Officer, as CODM, uses segment contribution margin, which is computed as segment revenues and sales less segment expenses, to evaluate performance and allocate operating and capital resources, primarily in the annual budgeting and forecasting process and to establish performance targets for purposes of management incentive compensation. The CODM considers budget-to-actual variances when making decisions about allocating operating and capital resources to the segments.

For financial reporting purposes, our operating and reportable segments consist of:

Kinetic – We manage as one business our residential, business and wholesale operations in our ILEC markets due to the similarities with respect to service offerings and marketing strategies. Residential customers can bundle voice, high-speed internet and video services, to provide one convenient billing solution and receive bundle discounts. We offer a wide range of advanced internet services, local and long-distance voice services, integrated voice and data services, and web conferencing products to our business customers. These services are equipped to deliver high-speed internet with competitive speeds, value added services to enhance business productivity and options to bundle services to meet our business customer needs. Products and services offered to business customers also include managed cloud communications and security services. Our Kinetic wholesale operations provide network bandwidth to other telecommunications carriers, network operators, governmental entities, content providers, and large cloud computing and storage service providers. These services include network transport services to end users, Ethernet and Wave transport of up to 400 Gbps, and dark fiber and colocation services. Wholesale services also include fiber-to-the-tower connections to support the wireless backhaul market. In addition, we offer voice and data carrier services to other communications providers and to larger-scale purchasers of network capacity.

Kinetic service revenues also include revenue from federal and state USF programs, amounts received from RDOF, and certain surcharges assessed to our customers, including billings for our required contributions to federal and state USF programs. Kinetic sales revenues include sales of various types of communications equipment and products to customers, including selling network equipment to contractors on a wholesale basis.

Uniti Solutions – We manage as one business our mid-market and large business customers located within our CLEC markets and provide services over network facilities primarily leased from other carriers. Products and services consist of software solutions and network connectivity offerings. Software solutions include SASE, UCaaS, OfficeSuite UC®, SD-WAN and associated network access products and services. Network connectivity offerings consist of dynamic internet protocol, dedicated internet access, multi-protocol label switching services, integrated voice and data, long distance and other managed services, including TDM voice and data services and certain surcharges assessed to customers. Uniti Solutions sales revenues include sales of high-end data and communications equipment which facilitate the delivery of advanced data and voice services to business customers.
Fiber Infrastructure – We manage as one business our legacy fiber and leasing businesses combined with the CLEC portion of Windstream's acquired wholesale business. Our Fiber Infrastructure operations are focused on providing network bandwidth to other telecommunications carriers, network operators, content providers, and large cloud computing and storage service providers. Services provided include network transport services to end users, Ethernet and Wave transport of up to 400 Gbps, and dark fiber and colocation services. Services also include fiber-to-the-tower connections to support the wireless backhaul market. In addition, we offer voice and data carrier services to other communications providers and to larger-scale purchasers of network capacity. We are also engaged in the acquisition and construction of mission-critical communications assets and leasing them to anchor customers on either an exclusive or shared-tenant basis, in addition to the leasing of dark fiber on our existing dark fiber network assets that we either constructed or acquired. Fiber Infrastructure sales revenues primarily represent amounts recognized from sales-type leases for fiber where control of the fiber has transferred to the customer.

Segment revenues are based upon each customer’s classification to an individual segment and include all services provided to that customer. Segment expenses include direct expenses incurred in providing services and products to segment customers and selling, general and administrative expenses that are directly associated with specific segment customers or activities. These direct expenses include network access and facilities, network operations and engineering, customer specific access costs, cost of sales, field operations, service delivery, sales and marketing, product development, licensing fees, provision for estimated credit losses, and compensation and benefit costs for employees directly assigned to the segments.

Costs related to centrally-managed administrative functions, including information technology, accounting and finance, legal, human resources and other corporate management activities are not monitored by or reported to the CODM by segment. We also do not assign to the segments depreciation and amortization expense, gain on sale of operating assets or transaction-related and other costs, because these items are not monitored by or reported to the CODM at a segment level.

Interest expense has also been excluded from segment operating results because we manage our financing activities on a total company basis and have not assigned any debt or finance lease obligations to the segments. Other income, net, and income tax benefit (expense) are not monitored as a part of our segment operations and, therefore, these items also have been excluded from our segment operating results.

Capital expenditures for network enhancements and information technology-related projects benefiting the Company as a whole are not assigned to the segments and are presented as corporate/shared capital expenditures. Asset information by segment is not monitored or reported to the CODM and therefore has not been presented. Substantially all of our customers, operations and assets are located in the U.S., and we do not have any single customer that provides more than 10% of our total consolidated revenues and sales.
The following table summarizes our segment results:

Three Months Ended
September 30,		Nine Months Ended
September 30,
(Millions)2025202420252024
Kinetic:
Service revenues from external customers$348.6 $— $348.6 $— 
Sales revenues from external customers11.7 — 11.7 — 
Total revenues and sales from external customers360.3 — 360.3 — 
Intersegment revenues (a)7.9 — 7.9 — 
Total revenues and sales368.2 — 368.2 — 
Compensation expenses(67.1)— (67.1)— 
Non-compensation managed expenses (b)(40.4)— (40.4)— 
Revenue-driven costs (c)(30.0)— (30.0)— 
Network access and facilities(37.9)— (37.9)— 
Allocated network operations expenses(10.6)— (10.6)— 
Customer access (d)(3.9)— (3.9)— 
Intersegment costs and expenses (e)(22.9)— (22.9)— 
Contribution margin$155.4 $— $155.4 $— 
Uniti Solutions:
Service revenues from external customers$135.3 $— $135.3 $— 
Sales revenues from external customers0.4 — 0.4 — 
Total revenues and sales from external customers135.7 — 135.7 — 
Intersegment revenues (f)0.9 — 0.9 — 
Total revenues and sales136.6 — 136.6 — 
Compensation expenses(6.5)— (6.5)— 
Non-compensation managed expenses (g)(0.4)— (0.4)— 
Revenue-driven costs (h)(20.4)— (20.4)— 
Customer access (d)(29.1)— (29.1)— 
Intersegment costs and expenses (e)(8.0)— (8.0)— 
Contribution margin$72.2 $— $72.2 $— 
Fiber Infrastructure:
Service revenues from external customers$211.4 $287.5 $798.1 $861.1 
Sales revenues from external customers15.2 4.7 23.2 12.5 
Total revenues and sales from external customers226.6 292.2 821.3 873.6 
Intersegment revenues (i)23.5 — 23.5 — 
Total revenues and sales250.1 292.2 844.8 873.6 
Network access and facilities expenses(48.5)(22.8)(92.5)(69.4)
Compensation expenses(18.0)(12.2)(42.0)(35.7)
Non-compensation managed expenses (j)(4.8)(3.2)(12.1)(10.0)
Revenue-driven costs (k)(15.2)(4.1)(23.3)(13.3)
Allocated network operations and engineering
   expenses		(2.6)— (2.6)— 
Customer access (d)(1.9)— (1.9)— 
Intersegment costs and expenses (e)(1.4)— (1.4)— 
Contribution margin$157.7 $249.9 $669.0 $745.2 
Total segment revenues and sales from
   external customers		$722.6 $292.2 $1,317.3 $873.6 
Total intersegment revenues32.3 — 32.3 — 
Total segment revenues and sales754.9 292.2 1,349.6 873.6 
Total segment expenses(337.3)(42.3)(420.7)(128.4)
Total intersegment costs and expenses(32.3)— (32.3)— 
Total segment contribution margin$385.3 $249.9 $896.6 $745.2 
(a)Consists of intercompany charges to Uniti Solutions and Fiber Infrastructure for resale access services.

(b)Includes advertising, contract services and fees, fleet-related expenses (e.g., leasing costs, fuel, maintenance and repair costs), and employee-related travel costs.

(c)Includes federal and state USF fees, provision for credit losses, equipment-related shipping and refurbishment costs, and cost of sales.

(d)Customer access expense represents the portion of interconnect costs directly assigned to the segment.

(e)Reflects the offsetting expense effects of the intercompany billing agreements between segments.

(f)Consists of intercompany charges to Kinetic for licensing fees related to the usage of the OfficeSuite UC© product.

(g)Includes support agreements, contract services and fees, and employee-related travel costs.

(h)Includes federal and state USF fees, provision for credit losses, third-party commissions, staff augmentation for professional services, product licensing fees, and cost of sales.

(i)Consists of intercompany charges to Kinetic and Uniti Solutions primarily for usage of network and colocation facilities owned or operated by Fiber Infrastructure.

(j)Includes advertising, contract services and fees, and employee-related travel costs.

(k)Includes federal and state USF fees, provision for credit losses, early termination fees, and cost of fiber sales.

Capital expenditures by segment were as follows:

Three Months Ended
September 30,		Nine Months Ended
September 30,
(Millions)2025202420252024
Kinetic$147.7 $— $147.7 $— 
Uniti Solutions4.9 — 4.9 — 
Fiber Infrastructure52.7 65.0 298.1 327.8 
Total segment capital expenditures205.3 65.0 450.7 327.8 
Corporate/Shared (a)9.6 — 10.5 — 
Total$214.9 $65.0 $461.2 $327.8 

(a)Represents capital expenditures not directly assigned to the segments and primarily consists of capital outlays for network enhancements and information technology-related projects benefiting Uniti as a whole.

The following table reconciles total segment revenues and sales to total consolidated revenues and sales:

Three Months Ended
September 30,		Nine Months Ended
September 30,
(Millions)2025202420252024
Total segment revenues and sales$754.9 $292.2 $1,349.6 $873.6 
Intersegment revenues(32.3)— (32.3)— 
Total consolidated revenues and sales$722.6 $292.2 $1,317.3 $873.6 
The following table reconciles total segment contribution margin to consolidated net income:

Three Months Ended
September 30,		Nine Months Ended
September 30,
(Millions)2025202420252024
Total segment contribution margin$385.3 $249.9 $896.6 $745.2 
Depreciation and amortization(202.3)(79.3)(361.7)(234.9)
Gain on sale of operating assets— — — 19.0 
Transaction related and other costs(157.7)(14.4)(179.0)(31.1)
Corporate/shared operating expenses(57.5)(14.6)(88.4)(44.6)
Amortization of non-cash rights-of-use assets(0.3)(0.8)(2.0)(2.5)
Severance costs— (0.1)— (1.6)
Stock-based compensation(10.1)(3.4)(17.4)(10.1)
Other (expense) income, net(0.2)— (1.3)0.3 
Gain on settlement of preexisting relationships1,685.4 — 1,685.4 — 
Interest expense(168.2)(131.0)(467.0)(381.7)
Income tax benefit134.5 5.9 145.2 13.8 
Net income$1,608.9 $12.2 $1,610.4 $71.8