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Segments (Tables)
9 Months Ended
Sep. 30, 2025
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information
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.
Schedule of Capital Expenditures by Segment
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.
Schedule of Reconciliation of Operating Profit income from Segments to Consolidated
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