Goodwill and Intangible Assets and Liabilities (Tables)

9 Months Ended

Sep. 30, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Carrying Amount of Goodwill

Changes in the carrying amount of goodwill occurring during the nine months ended September 30, 2025 are as follows:

(Millions)	Kinetic		Uniti Solutions		Fiber Infrastructure (a)		Total
Goodwill at December 31, 2024	$	—	$	—	$	672.9	$	672.9
Accumulated impairment charges as of December 31, 2024	—		—		(515.5)		(515.5)
Balance at December 31, 2024	—		—		157.4		157.4
Acquisition of Windstream	768.3		193.3		45.3		1,006.9
Goodwill at September 30, 2025	768.3		193.3		718.2		1,679.8
Accumulated impairment charges as of September 30, 2025	—		—		(515.5)		(515.5)
Balance at September 30, 2025	$	768.3	$	193.3	$	202.7	$	1,164.3

(a)Prior to the Merger, all goodwill related to the former Uniti Fiber segment. In connection with the Merger, the former Uniti Fiber and Uniti Leasing segments were combined with the CLEC portion of Windstream’s acquired wholesale business and renamed Fiber Infrastructure.

Schedule of Indefinite-Lived Intangible Assets

Indefinite-lived intangible assets were as follows on September 30, 2025:

(Millions)
FCC Spectrum licenses	$	78.9

Schedule of Carrying Value of Intangible Assets and Liabilities

Carrying value of finite-lived intangible assets and liabilities were as follows:

	September 30, 2025						December 31, 2024
(Millions)	Original Cost		Accumulated Amortization		Net Carrying Value		Original Cost		Accumulated Amortization		Net Carrying Value
Finite-lived intangible assets:
Customer relationships	$	750.0	$	(41.9)	$	708.1	$	—	$	—	$	—
Customer lists	416.1		(191.4)		224.7		416.1		(174.3)		241.8
IPv4 addresses (a)	162.8		(1.6)		161.2		—		—		—
Trade name	115.0		(1.3)		113.7		—		—		—
Contracts	52.5		(32.8)		19.7		52.5		(27.9)		24.6
Rights of way	48.6		(2.5)		46.1		10.5		(1.5)		9.0
Total	$	1,545.0	$	(271.5)	$	1,273.5	$	479.1	$	(203.7)	$	275.4
Finite-lived intangible liabilities:
Below-market leases	$	15.2	$	(9.5)	$	5.7	$	191.2	(45.5)		145.7

(a)Subsequent to August 1, 2025, the Company sold certain unused IPv4 addresses with a net carrying value of $2.8 million and received cash proceeds of $3.1 million.

Schedule of Amortization Methodology and Useful Lives for Finite-Lived Intangible Assets

The amortization methodology and useful lives for finite-lived intangible assets and liabilities were as follows:

	Amortization Methodology	Estimated Useful Life
Intangible Assets:
Customer relationships	sum of years digits	5 years
Customer lists	straight-line	14-30 years
IPv4 addresses	straight-line	17.5 years
Trade name	straight-line	15 years
Contracts	straight-line	8 years
Rights of way	straight-line	9.4 - 30.0 years
Intangible Liabilities:
Below-market leases	straight-line	8-20 years

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

Amortization expense for intangible assets subject to amortization is estimated to be as follows for each of the years ended December 31:

Year	(Millions)
2025 (excluding the nine months ended September 30, 2025)	$	75.4
2026	279.7
2027	229.8
2028	178.2
2029	123.2
Thereafter	387.2
Total	$	1,273.5

Schedule of Revenue Due to Amortization of Below-Market Leases

Revenue due to the amortization of the below-market leases is estimated to be as follows for each of the years ended December 31:

Year	(Millions)
2025 (excluding the nine months ended September 30, 2025)	$	0.5
2026	1.9
2027	1.9
2028	1.4
Total	$	5.7