0001628280-26-013196 | 10-K | XBRL Viewer

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Derivatives - Schedule of Derivative Instruments (Details) - Other Comprehensive Income (Loss) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Derivative [Line Items]
Changes in fair value, net of tax	$ (0.2)	$ (0.6)
Reclassification of unrealized gains, net of tax	$ (1.7)	$ 0.0

- Definition

The net change in the difference between the fair value and the carrying value, or in the comparative fair values, of derivative instruments, including options, swaps, futures, and forward contracts, held at each balance sheet date, that was included in earnings for the period.

+ References + Details

Employee Benefit Plan - Schedule of Net Benefit (Details) - Pension Plan - USD ($) $ in Millions	5 Months Ended
	Dec. 31, 2025	Dec. 31, 2025
Defined Benefit Plan Disclosure [Line Items]
Benefits earned during the period	$ 1.0	$ 1.0
Interest cost on projected benefit obligations	12.1	12.1
Net actuarial gain	$ (5.6)	(9.1)
Expected return on plan assets		(13.5)
Net periodic pension income		$ (9.5)

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Notes and Other Debt, Net - Loss on Extinguishment of Debt (Details) - USD ($) $ in Millions	1 Months Ended		12 Months Ended
	Oct. 31, 2025	Jun. 30, 2025	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023	Feb. 28, 2025	May 17, 2024	Feb. 14, 2023
Extinguishment of Debt [Line Items]
Repayments of debt			$ 3,784.0	$ 460.9	$ 2,749.7
Write-off of unamortized discount and debt issuance costs			1.1	77.9
(Loss) gain on extinguishment of debt			183.0	0.0	31.2
Notes and other debt, net			$ 9,529.4	5,783.6
10.50% Senior Secured Notes Due 2028
Extinguishment of Debt [Line Items]
Debt issuance cost	$ 32.4
Issuance senior notes, stated percentage			10.50%
Repayments of debt	119.5
Write-off of unamortized discount and debt issuance costs	23.1		$ 0.0	37.5
(Loss) gain on extinguishment of debt	$ (142.6)
Issuance of senior notes, principal amount		$ 37.2				$ 125.0
Write off of deferred debt issuance cost		6.3
Gain on extinguishment of debt, before write off of debt issuance cost		30.9
10.50% Senior Secured Notes Due 2028 \| Senior Unsecured Notes
Extinguishment of Debt [Line Items]
Repayments of debt		500.0
10.50% Senior Secured Notes Due 2028 \| Senior Secured Notes
Extinguishment of Debt [Line Items]
Issuance of senior notes, principal amount							$ 300.0	$ 2,600.0
ABS Bridge Loan Facility
Extinguishment of Debt [Line Items]
Write-off of unamortized discount and debt issuance costs			$ 0.0	$ 3.7
(Loss) gain on extinguishment of debt		$ 3.2
7.875%, due February 15, 2028
Extinguishment of Debt [Line Items]
Issuance senior notes, stated percentage			7.88%
(Loss) gain on extinguishment of debt					(32.3)
Write off of deferred debt issuance cost					10.3
Gain on extinguishment of debt, before write off of debt issuance cost					22.0
Notes and other debt, net					2,250.0
4.00% Exchangeable Notes Due 2024
Extinguishment of Debt [Line Items]
Issuance senior notes, stated percentage			4.00%
(Loss) gain on extinguishment of debt					(1.1)
Write off of deferred debt issuance cost					0.1
Debt instrument, redemption amount					15.0
Repurchase amount					$ 13.7

Segments (Tables)

12 Months Ended

Dec. 31, 2025

Segment Reporting [Abstract]

Schedule of Segment Reporting Information

The following table summarizes our segment results for the years ended December 31:


(Millions)	2025		2024		2023
Kinetic:
Service revenues from external customers	$	874.3	$	—	$	—
Sales revenues from external customers	34.7		—		—
Total revenues and sales from external customers	909.0		—		—
Intersegment revenues (a)	19.4		—		—
Total revenues and sales	928.4		—		—
Compensation expenses	(160.4)		—		—
Non-compensation managed expenses (b)	(104.9)		—		—
Revenue-driven costs (c)	(84.2)		—		—
Network access and facilities	(84.1)		—		—
Allocated network operations expenses	(20.4)		—		—
Customer access (d)	(9.7)		—		—
Intersegment costs and expenses (e)	(57.1)		—		—
Contribution margin	$	407.6	$	—	$	—
Uniti Solutions:
Service revenues from external customers	$	329.5	$	—	$	—
Sales revenues from external customers	0.6		—		—
Total revenues and sales from external customers	330.1		—		—
Intersegment revenues (f)	2.2		—		—
Total revenues and sales	332.3		—		—
Compensation expenses	(25.0)		—		—
Non-compensation managed expenses (g)	(2.4)		—		—
Revenue-driven costs (h)	(49.5)		—		—
Customer access (d)	(71.8)		—		—
Intersegment costs and expenses (e)	(19.5)		—		—
Contribution margin	$	164.1	$	—	$	—
Fiber Infrastructure:
Service revenues from external customers	$	967.9	$	1,148.8	$	1,133.0
Sales revenues from external customers	27.5		18.1		16.8
Total revenues and sales from external customers	995.4		1,166.9		1,149.8
Intersegment revenues (i)	58.5		—		—
Total revenues and sales	1,053.9		1,166.9		1,149.8
Network access and facilities expenses	(156.2)		(91.4)		(93.5)
Compensation expenses	(63.9)		(45.7)		(43.7)
Non-compensation managed expenses (j)	(16.1)		(12.7)		(16.8)
Revenue-driven costs (k)	(33.0)		(17.8)		(16.4)
Allocated network operations expenses	(4.4)		—		—
Customer access (d)	(4.7)		—		—
Intersegment costs and expenses (e)	(3.5)		—		—
Contribution margin	$	772.1	$	999.3	$	979.4
Total segment revenues and sales from external customers	$	2,234.5	$	1,166.9	$	1,149.8
Total intersegment revenues	80.1		—		—
Total segment revenues and sales	2,314.6		1,166.9		1,149.8
Total segment expenses	(890.7)		(167.6)		(170.4)
Total intersegment costs and expenses	(80.1)		—		—
Total segment contribution margin	$	1,343.8	$	999.3	$	979.4

(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.

Segment, Reconciliation of Other Items from Segments to Consolidated

Capital expenditures by segment were as follows for the years ended December 31:


(Millions)	2025		2024		2023
Kinetic	$	386.0	$	—	$	—
Uniti Solutions	13.0		—		—
Fiber Infrastructure	357.3		354.7		417.0
Total segment capital expenditures	756.3		354.7		417.0
Corporate/Shared (a)	31.5		0.1		—
Total	$	787.8	$	354.8	$	417.0

(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.

Reconciliation of Operating Profit (Loss) from Segments to Consolidated

The following table reconciles total segment revenues and sales to total consolidated revenues and sales for the years ended December 31:


(Millions)	2025		2024		2023
Total segment revenues and sales	$	2,314.6	$	1,166.9	$	1,149.8
Intersegment revenues	(80.1)		—		—
Total consolidated revenues and sales	$	2,234.5	$	1,166.9	$	1,149.8

The following table reconciles total segment contribution margin to consolidated net income (loss) for the years ended December 31:


(Millions)	2025		2024		2023
Total segment contribution margin	$	1,343.8	$	999.3	$	979.4
Depreciation and amortization	(666.6)		(314.9)		(310.5)
Goodwill impairment	—		—		(204.0)
Gain on sale of operating assets	—		19.0		—
Transaction related and other costs	(211.8)		(38.7)		(12.6)
Corporate/shared operating expenses	(177.8)		(59.2)		(53.7)
Amortization of non-cash rights-of-use assets	(2.1)		(3.4)		(3.0)
Severance costs	—		(1.6)		—
Insurance recovery	—		—		0.5
Stock-based compensation	(23.5)		(13.5)		(12.5)
Other income (expense), net	8.1		0.3		(18.4)
Loss on extinguishment of debt	(183.0)		—		(31.2)
Gain on settlement of preexisting relationships	1,683.9		—		—
Interest expense, net	(602.8)		(511.4)		(481.2)
Income tax benefit	136.5		17.5		68.5
Adjustments for equity in earnings from unconsolidated entities	—		—		(3.0)
Net income (loss)	$	1,304.7	$	93.4	$	(81.7)

Leases - Schedule of Lease Payments to be Received under Non-Cancellable Operating Leases (Details) $ in Millions	Dec. 31, 2025 USD ($)
Leases [Abstract]
2026	$ 93.8
2027	88.0
2028	81.3
2029	75.3
2030	66.3
Thereafter	456.1
Total	$ 860.8

Consolidated Statements of Shareholders’ Equity (Deficit) - USD ($) shares in Millions, $ in Millions	Total	New Uniti Preferred Stock	Old Uniti Preferred Stock	New Uniti Common Stock	Warrants	Preferred Stock New Uniti Preferred Stock	Preferred Stock Old Uniti Preferred Stock	Common Stock	Common Stock New Uniti Common Stock	Additional Paid-in Capital	Additional Paid-in Capital New Uniti Preferred Stock	Additional Paid-in Capital New Uniti Common Stock	Additional Paid-in Capital Warrants	Accumulated Other Comprehensive Loss	Distributions in Excess of Accumulated Earnings	Noncontrolling Interests
Beginning balance (in shares) at Dec. 31, 2022							0.0
Beginning balance at Dec. 31, 2022	$ (2,271.2)						$ 0.0	$ 0.0		$ 1,210.0				$ 0.0	$ (3,483.6)	$ 2.4
Beginning balance (in shares) at Dec. 31, 2022								142.2
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	(81.7)														(81.7)
Other comprehensive loss	0.0
Common stock dividends declared	(142.9)														(142.9)
Distributions to noncontrolling interest	(0.1)															(0.1)
Payments related to tax withholding for stock-based compensation	(1.4)									(1.4)
Stock-based compensation (in shares)								0.3
Stock-based compensation	12.5									12.5
Issuance of common stock - employee stock purchase plan (in shares)								0.1
Issuance of common stock - employee stock purchase plan	0.7									0.7
Ending balance (in shares) at Dec. 31, 2023							0.0
Ending balance at Dec. 31, 2023	(2,484.1)						$ 0.0	$ 0.0		1,221.8				0.0	(3,708.2)	2.3
Ending balance (in shares) at Dec. 31, 2023								142.6
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	93.4														93.4
Other comprehensive loss	(0.6)													(0.6)
Common stock dividends declared	(73.0)														(73.0)
Exchange of noncontrolling interest (in shares)								0.1
Exchange of noncontrolling interest	(0.2)									1.6						(1.8)
Payments related to tax withholding for stock-based compensation	(1.6)									(1.6)
Stock-based compensation (in shares)								0.4
Stock-based compensation	13.5									13.5
Issuance of common stock - employee stock purchase plan (in shares)								0.1
Issuance of common stock - employee stock purchase plan	0.7									0.7
Ending balance (in shares) at Dec. 31, 2024			0.0				0.0
Ending balance at Dec. 31, 2024	$ (2,451.9)						$ 0.0	$ 0.0		1,236.0				(0.6)	(3,687.8)	0.5
Ending balance (in shares) at Dec. 31, 2024	143.2							143.2
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	$ 1,304.7														1,304.7
Other comprehensive loss	(1.3)													(1.3)
Exchange of noncontrolling interest	(0.1)									0.2						(0.3)
Issuance of stock in the Merger (in shares)						0.6			90.1
Issuance of stock in the Merger		$ 630.4		$ 733.7	$ 142.7						$ 630.4	$ 733.7	$ 142.7
Preferred stock dividend	0.0									25.3					(25.3)
Payments related to tax withholding for stock-based compensation	(2.3)									(2.3)
Stock-based compensation (in shares)								0.6
Stock-based compensation	23.5									23.5
Issuance of common stock - employee stock purchase plan (in shares)								0.1
Issuance of common stock - employee stock purchase plan	0.6									0.6
Other, net	0.4														0.5	(0.1)
Ending balance (in shares) at Dec. 31, 2025		0.6				0.6	0.0
Ending balance at Dec. 31, 2025	$ 380.4					$ 0.0	$ 0.0	$ 0.0		$ 2,790.1				$ (1.9)	$ (2,407.9)	$ 0.1
Ending balance (in shares) at Dec. 31, 2025	234.0							234.0

Goodwill and Intangible Assets and Liabilities - Schedule of Carrying Value of the Intangible Assets and Liabilities (Details) - USD ($) $ in Millions		12 Months Ended
	Aug. 02, 2025	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Schedule Of Indefinite And Finite Lived Intangible Assets And Liabilities [Line Items]
Original Cost		$ 1,561.9	$ 479.1
Accumulated Amortization		(347.5)	(203.7)
Total		1,214.4	275.4
Below-market leases, Original cost		15.2	191.2
Below-market leases, Accumulated amortization		(9.9)	(45.5)
Total		5.3	145.7
Cash proceeds	$ 5.0	10.6	2.6	$ 5.7
Customer relationships
Schedule Of Indefinite And Finite Lived Intangible Assets And Liabilities [Line Items]
Original Cost		750.0	0.0
Accumulated Amortization		(104.8)	0.0
Total		645.2	0.0
Customer lists
Schedule Of Indefinite And Finite Lived Intangible Assets And Liabilities [Line Items]
Original Cost		416.1	416.1
Accumulated Amortization		(197.1)	(174.3)
Total		219.0	241.8
IPv4 addresses
Schedule Of Indefinite And Finite Lived Intangible Assets And Liabilities [Line Items]
Original Cost		179.7	0.0
Accumulated Amortization		(4.4)	0.0
Total	$ 6.7	175.3	0.0
Trade name
Schedule Of Indefinite And Finite Lived Intangible Assets And Liabilities [Line Items]
Original Cost		115.0	0.0
Accumulated Amortization		(3.2)	0.0
Total		111.8	0.0
Contracts
Schedule Of Indefinite And Finite Lived Intangible Assets And Liabilities [Line Items]
Original Cost		52.5	52.5
Accumulated Amortization		(34.5)	(27.9)
Total		18.0	24.6
Rights of way
Schedule Of Indefinite And Finite Lived Intangible Assets And Liabilities [Line Items]
Original Cost		48.6	10.5
Accumulated Amortization		(3.5)	(1.5)
Total		$ 45.1	$ 9.0

Property, Plant and Equipment, Net - Schedule of Carrying Value of Property, Plant and Equipment (Details) - USD ($) $ in Millions	Dec. 31, 2025	Dec. 31, 2024
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	$ 15,088.4	$ 10,681.1
Less accumulated depreciation	(6,946.5)	(6,471.4)
Property, plant and equipment, net	8,141.9	4,209.7
Land
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	65.4	30.6
Building and improvements
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	$ 537.1	374.7
Fiber
Property Plant And Equipment [Line Items]
Depreciable lives	30 years
Property, plant and equipment, gross	$ 6,727.5	5,399.5
Copper
Property Plant And Equipment [Line Items]
Depreciable lives	20 years
Property, plant and equipment, gross	$ 4,583.4	3,972.8
Poles
Property Plant And Equipment [Line Items]
Depreciable lives	30 years
Property, plant and equipment, gross	$ 474.7	341.5
Equipment
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	1,898.2	508.8
Corporate assets
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	204.7	16.4
Construction in progress
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	$ 597.4	$ 36.8
Minimum \| Building and improvements
Property Plant And Equipment [Line Items]
Depreciable lives	3 years
Minimum \| Equipment
Property Plant And Equipment [Line Items]
Depreciable lives	5 years
Minimum \| Corporate assets
Property Plant And Equipment [Line Items]
Depreciable lives	3 years
Maximum \| Building and improvements
Property Plant And Equipment [Line Items]
Depreciable lives	40 years
Maximum \| Equipment
Property Plant And Equipment [Line Items]
Depreciable lives	7 years
Maximum \| Corporate assets
Property Plant And Equipment [Line Items]
Depreciable lives	7 years

Income Taxes - Narrative (Details) - USD ($)	12 Months Ended
Income Taxes - Narrative (Details) - USD ($)	Dec. 31, 2025	Dec. 31, 2024
Income Tax Disclosure [Abstract]
Investments	$ 447,000,000.0
Deferred tax asset, valuation allowance	638,300,000	$ 0
Tax deferred income	290,200,000
Valuation Allowance, net	283,400,000
Other comprehensive income	600,000
Deferred tax liability resulting from merger	11,500,000
Net operating loss	17,700,000
Operating loss carryforward subject to expiration	179,700,000
Operating loss carryforward not subject to expiration	1,134,200,000
Operating loss carryforwards, domestic	45,900,000
Interest carryforward	1,053,100,000
Interest carryforward, domestic	30,300,000
Interest and penalties net of tax recognized	1,300,000
Accrued interest and penalties on unrecognized tax benefits	$ 0

Merger and Purchase Price Allocation

12 Months Ended

Dec. 31, 2025

Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]

Merger and Purchase Price Allocation

Merger and Purchase Price Allocation:

Merger Consideration

As previously discussed in Note 1, Old Uniti merged with Windstream on August 1, 2025. The total merger consideration of $2,376.6 million was calculated based on the fair value of the consideration transferred, which included the fair value of Common Stock, Preferred Stock and Warrants issued, the Merger Cash Consideration, and the effective settlement of preexisting relationships. The calculation of merger consideration was as follows:


(Millions)
Fair value of Common Stock issued in the Merger (a)	$	733.7
Fair value of Preferred Stock issued in the Merger (b)	630.4
Fair value of Warrants issued in the Merger (c)	142.7
Merger Cash Consideration	370.7
Settlement of preexisting relationships (d)	499.1
Total merger consideration	$	2,376.6

(a)The fair value of 90,133,152 shares of Common Stock issued to Windstream equityholders was based on Old Uniti’s closing stock price on August 1, 2025 of $8.14.

(b)The fair value of 575,000 shares of Preferred Stock issued to Windstream equityholders was determined using a Black-Derman-Toy lattice model incorporating the contractual terms of the Preferred Stock, as well as the risk associated with the Preferred Stock, which was accounted for through the risk free rate term structure and a credit risk adjusted spread of 4.5%.

(c)The fair value of 17,558,406 Warrants issued to Windstream equityholders was based on the intrinsic value of each warrant of $8.13 computed as the difference between the accounting acquirer’s closing stock price on August 1, 2025 and the exercise price of the warrant, which was deemed to be a reasonable proxy of the fair value of the Warrants.

(d)Represents the amount of total merger consideration attributable to the effective settlement of preexisting relationships as of August 1, 2025 between Old Uniti and Windstream, as further discussed below.

Settlement of Preexisting Relationships

Prior to completion of the Merger, Old Uniti and Windstream had several preexisting relationships primarily comprised of (i) two structurally similar long-term exclusive triple-net lease agreements (collectively, the “Windstream Leases”), which consisted of a master lease (the “ILEC MLA”) that governed assets owned by Old Uniti which were leased and used by Windstream's incumbent local exchange carrier (“ILEC”) operations and a master lease (the “CLEC MLA”) that governed assets owned by Old Uniti which were leased and used by Windstream's consumer competitive local exchange carrier (“CLEC”) operations, (ii) the asset purchase agreement, pursuant to which Old Uniti paid Windstream in exchange for exclusive rights to use certain fiber strand miles leased by Windstream, certain fiber assets (and underlying rights) owned by Windstream, dark fiber IRU arrangements relating to the fiber strand miles and fiber assets, and a 20-year IRU for certain strands included in the transferred fiber assets that Uniti granted to Windstream (the “Asset Purchase Agreement”), and (iii) various other leasing and supplier arrangements between Old Uniti and Windstream.

Upon consummation of the Merger, all historical preexisting relationships between Old Uniti and Windstream were considered effectively settled for accounting purposes and the related transactions and balances became intercompany transactions eliminated in the preparation of the Company’s post-Merger consolidated financial statements. To the extent the settled preexisting contractual arrangement was deemed favorable or unfavorable from the perspective of Old Uniti, the fair value of the off-market component was included in total merger consideration. As of the Merger date, the Windstream Leases were deemed to be above market from the perspective of Old Uniti and the fair value of the off-market component was estimated to be $559.0 million based on the remaining contractual lease payments and current market rates. Significant assumptions utilized in the valuation of the off-market component using an income approach included projected revenue growth rates and forecasted EBITDA margins discounted to present value using an appropriate discount rate. Conversely, the Asset Purchase Agreement was deemed to be unfavorable from the perspective of Old Uniti and the fair value of the off-market component was estimated to be $(60.0) million based on the estimated remaining value of the upfront payment of the IRU contract. The other leasing and supplier agreements were determined to be at market, and therefore, were effectively settled at the historical carrying value, which had a $0.1 million impact on total merger consideration.

In connection with the settlement of the preexisting relationships, the Company recognized a pretax nonrecurring gain of $1,683.9 million. The gain reflected the de-recognition of the associated assets and liabilities recorded by Old Uniti related to the Windstream Leases, Asset Purchase Agreement and the other leasing and supplier agreements as of the Merger date plus the portion of the total merger consideration assigned to the settlement of preexisting relationships discussed above. The derecognized liabilities consisted of deferred revenue of $1,166.8 million, intangible liabilities of $133.5 million, operating lease obligations of $11.4 million and accounts payable and other current liabilities totaling $2.1 million, and the derecognized assets consisted of accounts receivable and other current assets totaling $15.3 million, other assets, including the straight-line revenue receivable, of $88.2 million and operating lease right-of-use assets of $25.5 million.

Preliminary Purchase Price Allocation

The Merger was accounted for using the acquisition method of accounting, and accordingly, the total purchase price was allocated to the identifiable tangible and intangible assets acquired and liabilities assumed of Windstream based on their estimated fair values as of the Merger date, with the excess amount recorded as goodwill.

During the fourth quarter of 2025, the Company made certain measurement period adjustments to its initial purchase price allocation primarily consisting of an increase to the estimated fair value of IPv4 addresses of $20.8 million and decreases in the estimated fair value of property, plant and equipment of $14.7 million, prepaid expenses and other current assets of $4.8 million, and deferred income tax liability of $4.3 million, the effects of which resulted in a net decrease in recorded goodwill of $6.0 million. The Company also refined the useful lives for certain property, plant and equipment.

The allocation of the purchase price is preliminary and subject to change based on the finalization of the third-party appraisals to support the valuation of property, plant and equipment, intangible assets including goodwill and the related income tax impacts. The determination of the fair value of assets and liabilities acquired, including property, plant and equipment, intangible assets and deferred taxes requires significant management judgment and the Company has not completed this analysis as of December 31, 2025. Any changes to the initial estimates of the fair value of the assets acquired and liabilities assumed will be recorded as adjustments to those assets and liabilities with the offset charged to goodwill.

The following table summarizes the preliminary allocation of the Merger consideration of the identifiable tangible and intangible assets acquired and liabilities assumed of Windstream with the excess recorded as goodwill:


(Millions)	Preliminary Allocation
Fair value of assets acquired:
Cash, cash equivalents and restricted cash	$	141.2
Accounts receivable	315.6
Prepaid expenses and other current assets	283.3
Property, plant and equipment (a)	3,531.0
Goodwill	1,000.9
Customer relationships (b)	750.0
IPv4 addresses (c)	186.4
Trade name (d)	115.0
Spectrum licenses (e)	78.9
Right of way (f)	38.1
Operating lease right-of-use assets (g)	431.9
Other assets	52.7
Total assets acquired	6,925.0
Fair value of liabilities assumed:
Current portion of operating lease obligations (g)	107.4
Accounts payable	125.1
Deferred revenue	132.1
Other current liabilities	417.3
Long-term debt (h)	2,841.2
Noncurrent operating lease obligations (g)	315.2
Deferred income taxes	290.2
Noncurrent deferred revenue	88.3
Pension obligation (i)	103.6
Other liabilities	128.0
Total liabilities assumed	4,548.4
Total merger consideration (j)	$	2,376.6

(a)The fair value of the property, plant and equipment inclusive of internal use software was determined using the cost approach, which considers the cost to a market participant buyer to acquire or construct a substitute asset of comparable utility, adjusted for obsolescence, including any functional, technological, and economic obsolescence if any. Property, plant and equipment is depreciated on a straight-line basis over a useful life ranging from 1 to 40 years.

(b)Customer relationships were valued using an income approach, specifically a multi-period excess earnings approach. Under this method, excess earnings attributable to the acquired customers are estimated based on projected revenues and cash flows, net of contributory charges for supporting assets with the remaining excess earnings discounted to present value using an appropriate discount rate. Customer relationships are amortized using the sum-of-years digits methodology over a weighted average life of 5 years.

(c)IPv4 addresses were valued using a market approach, based on observable recent auction prices and other relevant information generated by market transactions involving identical or comparable assets. IPv4 addresses are amortized on a straight-line basis over an estimated useful life of 17.5 years.

(d)The fair value for the “Kinetic” trade name was determined by applying the relief-from-royalty method, an income-based approach. Under this method, a royalty rate based on observed market royalties is applied to projected revenues attributable to the trade name and discounted to present value using an appropriate discount rate. The economic useful life of 15 years was determined based on the expected life of the trade name and the cash flows anticipated over the forecast period. The trade name is amortized on a straight-line basis over the estimated useful life.

(e)Spectrum licenses were acquired in highly competitive federal spectrum auctions, incorporating bids from market participant spectrum holders. Given limited subsequent auction data and the uncertainty of cash flows related to the use of the licenses, the price paid at the time of the auctions was considered the best evidence of fair value. Currently, there are no legal, regulatory, contractual, competitive, economic or other factors that would limit the useful life of the spectrum, and therefore, the licenses are considered indefinite-lived intangible assets.

(f)The right-of-way fair value was assumed to be equal to book value given the recency of the agreement execution at market. The right-of-way is amortized on a straight-line basis over a remaining estimated useful life of 9.4 years.

(g)The operating lease right-of-use assets and liabilities were remeasured to reflect the present value of the remaining lease payments as of the Merger date using the combined company incremental borrowing rates ranging from 4.35% to 6.82% based on the length of the remaining lease term. The operating lease right-of-use assets also include a fair value adjustment of $1.0 million to account for the off-market component of the leases.

(h)The fair value of long-term debt was based on either observed market prices in an inactive market or based on current market interest rates applicable to the related debt instrument.

(i)The net pension benefit obligation was calculated based upon a number of actuarial assumptions, including an expected long-term rate of return on pension plan assets of 7.75% and a discount rate of 5.64%. In developing the expected long-term rate of return assumption, management considered the plan’s historical rate of return, as well as input from the Company’s investment advisors. Projected returns on pension plan assets were based on broad equity and bond indices and include a targeted asset allocation of 49% to equities, 32% to fixed income securities, and 19% to alternative investments. The discount rate selected was derived by identifying a theoretical settlement portfolio of high-quality corporate bonds sufficient to provide for the projected benefit payments. The values of the projected benefit payments are matched to the cash flows of the theoretical settlement bond portfolio to arrive at a single equivalent discount rate that aligns the present value of the required cash flows with the market value of the bond portfolio. Factoring in these actuarial assumptions, the net pension benefit obligation was $103.6 million as of August 1, 2025, consisting of projected benefit obligations of $545.2 million reduced by the fair value of plan assets of $441.6 million.

(j)See “Merger Consideration” above for more information regarding the components of total merger consideration. The Preferred Stock and Warrants issued in the Merger have been recognized as equity instruments.

The fair value of current assets, other assets, deferred revenue, current liabilities and other liabilities was based on carrying value, which was deemed a reasonable approximation of fair value. The preliminary fair values of certain assets acquired and liabilities assumed were determined with the assistance of a third-party valuation firm. Significant assumptions utilized in these approaches were based on Company specific information and projections, which are not observable in the market and are thus considered Level 3 measurements as defined by authoritative guidance.

The preliminary allocation of the purchase price resulted in an estimated net deferred tax liability. We expect to adjust this preliminary net deferred tax liability upon finalization of the third party-appraisals. Goodwill associated with this acquisition was largely due to synergies expected from combining operations as previously discussed in Note 1. Goodwill recognized in the Merger is not expected to be deductible for tax purposes. The Company allocated the goodwill recognized in the Merger to its reportable operating segments based on the relative fair value of the operating segments. See Note 5.

Transaction Related and Other Costs

Transaction related and other costs include acquisition pursuit, transaction and integration costs. Transaction related and other costs were as follows as of December 31:


(Millions)	2025		2024		2023
Professional services and fees (a)	$	140.0	$	32.3	$	10.2
Integration costs (b)	56.4		—		—
Other (c)	15.4		6.4		2.4
Total	$	211.8	$	38.7	$	12.6

(a)Consists of investment banking, legal, regulatory, accounting and other consulting and advisory services directly associated with the Merger.

(b)Includes direct costs incurred in integrating the acquired operations of Windstream, including consulting services, systems and data conversion, network optimization, contract termination fees, rebranding and marketing costs, transaction and retention bonuses, and severance and related employee benefit costs.

(c)Consists primarily of expenses incurred in connection with the offering of our asset-backed securities discussed in Note 7.

Transaction related and other costs recorded within other current liabilities were $9.8 million in the Company’s consolidated balance sheet at December 31, 2025.

Actual and Pro Forma Results of Operations

The results of Windstream’s operations are included in our consolidated results of operations beginning on August 1, 2025. For the year ended December 31, 2025, our consolidated results of operations include revenues and sales of $1,367.4 million and operating income of $196.6 million attributable to Windstream.

The following unaudited pro forma financial information presents the combined results of operations of Uniti for year ended December 31, 2025 and 2024 as if the Merger occurred as of January 1, 2024:


(Millions)	2025		2024
Total revenue and sales	$	3,790.2	$	4,060.8
Net (loss) income	$	(450.9)	$	1,560.4

The unaudited pro forma information includes adjustments for the settlement of preexisting relationships, amortization for intangible assets acquired, stock-based compensation expense, interest expense for acquisition financing, income tax expense for transaction structuring, and depreciation for property and equipment acquired. The unaudited pro forma information presented is for informational purposes only and is not necessarily indicative of our consolidated results of operations of the combined business had the acquisition actually occurred at the beginning of fiscal year 2024 or of the results of our future operations of the combined business.

Merger and Purchase Price Allocation - Schedule of Preliminary Fair Values of the Assets Acquired and Liabilities (Details) - USD ($) $ in Millions		12 Months Ended
	Aug. 01, 2025	Dec. 31, 2025	Dec. 31, 2024
Fair value of assets acquired:
Goodwill		$ 1,158.3	$ 157.4
Fair value of liabilities assumed:
Operating lease right-of-use assets, fair value adjustment	$ 1.0
Expected return on plan assets	7.75%	7.75%
Discount rate	5.64%
Net pension benefit obligation	$ 103.6
Projected benefit obligations	545.2
Fair value of plan assets	$ 441.6
Equity securities
Fair value of liabilities assumed:
Target allocation	49.00%	51.00%
Fixed Income Securities
Fair value of liabilities assumed:
Target allocation	32.00%
Alternative investments
Fair value of liabilities assumed:
Target allocation	19.00%	12.00%
Minimum
Fair value of liabilities assumed:
Incremental borrowing rate	4.35%
Minimum \| Equity securities
Fair value of liabilities assumed:
Target allocation		43.50%
Minimum \| Alternative investments
Fair value of liabilities assumed:
Target allocation		19.80%
Maximum
Fair value of liabilities assumed:
Incremental borrowing rate	6.82%
Maximum \| Equity securities
Fair value of liabilities assumed:
Target allocation		58.10%
Maximum \| Alternative investments
Fair value of liabilities assumed:
Target allocation		5.20%
Windstream
Fair value of assets acquired:
Cash, cash equivalents and restricted cash	$ 141.2
Accounts receivable	315.6
Prepaid expenses and other current assets	283.3
Property, plant and equipment	3,531.0
Goodwill	1,000.9
Operating lease right-of-use assets	431.9
Other assets	52.7
Total assets acquired	6,925.0
Fair value of liabilities assumed:
Current portion of operating lease obligations	107.4
Accounts payable	125.1
Deferred revenue	132.1
Other current liabilities	417.3
Long-term debt	2,841.2
Non-current operating lease obligations	315.2
Deferred income taxes	290.2
Noncurrent deferred revenue	88.3
Pension obligation	103.6
Other liabilities	128.0
Total liabilities assumed	4,548.4
Total merger consideration	$ 2,376.6
Windstream \| Minimum
Fair value of liabilities assumed:
Depreciable lives	1 year
Windstream \| Maximum
Fair value of liabilities assumed:
Depreciable lives	40 years
Windstream \| Customer relationships
Fair value of assets acquired:
Identifiable intangible asset, excluding goodwill	$ 750.0
Fair value of liabilities assumed:
Useful life	5 years
Windstream \| IPv4 addresses
Fair value of assets acquired:
Identifiable intangible asset, excluding goodwill	$ 186.4
Fair value of liabilities assumed:
Useful life	17 years 6 months
Windstream \| Trade name
Fair value of assets acquired:
Identifiable intangible asset, excluding goodwill	$ 115.0
Fair value of liabilities assumed:
Useful life	15 years
Windstream \| FCC Spectrum licenses
Fair value of assets acquired:
Identifiable intangible asset, excluding goodwill	$ 78.9
Windstream \| Rights of way
Fair value of assets acquired:
Identifiable intangible asset, excluding goodwill	$ 38.1
Fair value of liabilities assumed:
Useful life	9 years 4 months 24 days

Employee Benefit Plan

12 Months Ended

Dec. 31, 2025

Retirement Benefits [Abstract]

Employee Benefit Plans

Employee Benefit Plans:

In connection with the Merger, the Company assumed a non-contributory qualified defined benefit pension plan. Future benefit accruals for all eligible non-bargaining unit employees covered by the pension plan have ceased.

As previously discussed in Note 4, the net pension benefit obligation as of August 1, 2025 was calculated based upon a number of actuarial assumptions, including an expected long-term rate of return on pension plan assets of 7.75% and a discount rate of 5.64%. Factoring in these actuarial assumptions, the net pension benefit obligation was estimated to be $103.6 million as of August 1, 2025, consisting of projected benefit obligations of $545.2 million reduced by the fair value of plan assets of $441.6 million.

The components of pension income were as follows:


(Millions)	August 1- December 31, 2025
Benefits earned during the period (a)	$	1.0
Interest cost on benefit obligation (b)	12.1
Net actuarial gain (b)	(9.1)
Expected return on plan assets (b)	(13.5)
Net periodic pension income	$	(9.5)

(a)Included in cost of services and selling, general and administrative expense.

(b)Included in other income, net.

A summary of plan assets, projected benefit obligation and funded status of the pension plan was as follows as of December 31:


(Millions)	2025
Fair value of plan assets as of August 1, 2025	$	441.6
Actual return on plan assets	28.3
Employer contributions (a)	4.5
Benefits paid	(19.3)
Fair value of plan assets as of December 31, 2025	$	455.1
Projected benefit obligation as of August 1, 2025	$	545.2
Interest cost on projected benefit obligations	12.1
Service cost	1.0
Actuarial loss	5.6
Benefits paid	(19.3)
Projected benefit obligation as of December 31, 2025	$	544.6
Plan assets less than projected benefit obligation recorded in the balance sheet:
Current liabilities	$	—
Noncurrent liabilities	(89.5)
Funded status recognized in the consolidated balance sheet	$	(89.5)

(a)The remaining minimum required employer contributions to the pension plan for the 2025 plan year totaled $7.4 million, of which $4.5 million was contributed in January 2026 and the remaining $2.9 million will be contributed in September 2026, using cash.

The accumulated benefit obligation of the pension plan was $537.1 million as of December 31, 2025.

Assumptions – Actuarial assumptions used to calculate pension income for the period August 1, 2025 to December 31, 2025 were as follows:



Discount rate	5.60	%
Expected return on plan assets	7.75	%
Rate of compensation increase	3.30	%

Actuarial assumptions used to calculate the projected benefit obligations as of December 31, 2025 were as follows:



Discount rate	5.47	%
Expected return on plan assets	7.75	%
Rate of compensation increase:
2026	4.00	%
Thereafter	3.00	%

In developing the expected long-term rate of return assumption, management considered the plan’s historical rate of return, as well as input from the Company’s investment advisors. Projected returns on qualified pension plan assets were based on broad equity and bond indices and include a targeted asset allocation of 51% to equities, 37% to fixed income securities, and 12% to alternative investments, with an aggregate expected long-term rate of return of approximately 7.75%.

Plan Assets – Pension plan assets are allocated to asset categories based on the specific strategy employed by the asset’s investment manager. The asset allocation by asset category was as follows for the year ended December 31, 2025:


Asset Category	Target Allocation	Percentage of Plan Assets
Equity securities	43.5% - 58.1%	51.1	%
Fixed income securities	18.0% - 52.6%	34.6	%
Alternative investments	5.2% - 19.8%	12.6	%
Money market and other short-term interest bearing securities	0.0% - 5.0%	1.7	%
		100.0	%

The Company utilizes a third party to assist in evaluating the allocation of the total assets in the pension plan, taking into consideration the benefit obligations and funded status of the pension plan. Assets are managed utilizing a liability driven investment approach, meaning that assets are managed within a risk management framework which addresses the need to generate incremental returns in the context of an appropriate level of risk, based on plan liability profiles and changes in funded status. The return objectives are to satisfy funding obligations when and as prescribed by law and to keep pace with the growth of the pension plan liabilities. Given the long-time horizon for paying out benefits and the Company’s current financial condition, the pension plan can accept an average level of risk relative to other similar plans. The liquidity needs of the pension plan are manageable given that lump sum payments are not available to most participants.

Equity securities include stocks of both large and small capitalization domestic and international companies. Equity securities are expected to provide both diversification and long-term real asset growth. Domestic equities may include modest holdings of non-U.S. equities, purchased by domestic equity managers as long as they are traded in the U.S. and denominated in U.S. dollars and both active and passive (index) investment strategies. International equities provide a broad exposure to return opportunities and investment characteristics associated with the world equity markets outside the U.S. The pension plan’s equity holdings are diversified by investment style, market capitalization, market or region, and economic sector.

Fixed income securities include securities issued by the U.S. Government and other governmental agencies, debt securities issued by domestic and international entities, and derivative instruments comprised of swaps, futures, forwards, and options. These securities are expected to provide diversification benefits and are expected to reduce asset volatility and pension funding volatility, and a stable source of income.

Alternative investments may include hedge funds, commodities, both private and public real estate, and private equity investments. In addition to attractive diversification benefits, the alternative investments are expected to provide both income and capital appreciation.

Investments in money market and other short-term interest bearing securities are maintained to provide liquidity for benefit payments with protection of principal being the primary investment objective.

The fair values of pension plan assets were determined using the following inputs as of December 31, 2025:


			Quoted Price in Active Markets for Identical Assets		Significant Other Observable Inputs		Significant Unobservable Inputs
(Millions)	Fair Value		Level 1		Level 2		Level 3
Money market fund (a)	$	28.3	$	—	$	28.3	$	—
Collective and other trust funds (b)	220.3		—		220.3		—
Government and agency securities (c)	91.9		—		91.9		—
Other investments (d)	3.4		3.4		—		—
Investments included in fair value hierarchy	343.9		$	3.4	$	340.5	$	—
Other investments measured at NAV:
Pooled funds (e)	33.7
Private equity funds (f)	54.2
Total investments	431.8
Cash	21.0
Dividends and interest receivable	4.9
Derivatives and other liabilities	(2.6)
Total plan assets	$	455.1

(a)The money market fund is valued based on the fair value of the underlying assets held as determined by the fund manager on the last business day of the year. The underlying assets are mostly comprised of certificates of deposit, time deposits, and commercial paper valued at amortized cost. The carrying amount of interest bearing cash is estimated to approximate fair value due to the short-term nature of this investment.

(b)Units in collective and other trust funds are valued by reference to the funds’ underlying assets and are based on the net asset value as reported by the fund manager on the last business day of the year. The underlying assets are mostly comprised of publicly traded equity securities and fixed income securities. These securities are valued at the official closing price of, or the last reported sale prices as of the close of business or, in the absence of any sales, at the latest available bid price.

(c)Government and agency securities and corporate bonds are valued using pricing models maximizing the use of observable inputs for similar securities. Corporate bonds include values based on yields currently available on comparable securities of issuers with similar credit ratings.

(d)Other investments consist of derivative financial instruments and investments in foreign currency. Derivative financial instruments are valued based on models that reflect the contractual terms of the instruments. Inputs include observable market information, such as swap curves, benchmark yields, rating updates, and interdealer broker quotes at the end of the year. Investments in foreign currency are valued at their quoted market price on the last day of the year.

(e)The pooled funds are valued based on the net asset value of the fund as a practical expedient as determined by the fund manager on the last business day of the year and is derived from the fair value of each underlying investment held by the pooled fund. These investments have not been classified within the fair value hierarchy.

(f)Private equity funds consist of investments in limited partnerships and are valued based on the pension plan's capital account balance at year end, resulting in valuation at net asset value as a practical expedient, as reported in the audited financial statements of the partnership. These investments have not been classified within the fair value hierarchy.

There were no transfers within the fair value hierarchy during the period August 1, 2025 to December 31, 2025.

There have been no significant changes in the methodology used to value investments during the period August 1, 2025 to December 31, 2025. The valuation methods used may produce a fair value calculation that may not be indicative of net realizable value or reflective of future fair values. Furthermore, although the valuation methods are consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different fair value measurement at the reporting date.

Expected Future Employer Contributions and Benefit Payments – Expected future employer contributions and benefit payments are as follows as of December 31, 2025:


(Millions)
Expected employer contributions in 2026	$	20.6
Expected benefit payments:
2026	$	48.8
2027	47.8
2028	47.2
2029	46.6
2030	45.7
2031-2035	213.4

During 2026, the expected employer contributions of $20.6 million will be made using cash, consisting of $7.4 million for the 2025 plan year and $13.2 million for the 2026 plan year. The total amount of the 2026 employer contributions, and amount and timing of future contributions including any voluntary contributions, to the pension plan are dependent upon a myriad of factors, including future investment performance, changes in future discount rates, and changes in the demographics of the population participating in the plan.

In connection with the Merger, the Company also assumed an employee savings plan under section 401(k) of the Internal Revenue Code, which covers substantially all salaried employees and certain bargaining unit employees of Windstream. Participating employees receive employer matching contributions up to a maximum of 4.0% of employee pre-tax contributions to the plan for employees contributing up to 5.0% of their eligible pre-tax compensation. The employer matching contribution is calculated and funded in cash to the plan each pay period with an annual true-up to be made as soon as administratively possible after the end of the year. Inclusive of the Company's existing 401(k) defined contribution plan, expense attributable to the employer matching contribution under the plans, excluding amounts capitalized, was $11.0 million, $2.2 million and $2.3 million, for the years ended December 31, 2025, 2024 and 2023, respectively. Expense related to the employee savings plans is included in cost of services and selling, general and administrative expenses in the consolidated statements of income.

- Definition

The entire disclosure for retirement benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (o)
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
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-Section 50
-Paragraph 1
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
-Paragraph 1
-Subparagraph (q)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480266/715-60-50-3

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480126/715-20-S99-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 70
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480794/715-70-50-1

Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 17
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480482/715-20-55-17

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)(iv)(03)
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+ Details

Employee Benefit Plan - Schedule of Expected Benefit Payments (Details) $ in Millions	Dec. 31, 2025 USD ($)
Expected benefit payments:
2026	$ 48.8
2027	47.8
2028	47.2
2029	46.6
2030	45.7
2031-2035	$ 213.4

Leases - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
Leases - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Leases [Line Items]
Depreciation expense	$ 112.9	$ 186.4	$ 182.9
Short term lease commitments	$ 23.1
Minimum
Leases [Line Items]
Lessor, initial lease term	1 year
Lessor, lease renewal term	1 year
Lessor operating lease, termination	1 month
Lessee, initial lease term	1 year
Lessee, lease renewal term	1 year
Lessee, lease option to terminate	1 month
Maximum
Leases [Line Items]
Lessor, initial lease term	35 years
Lessor, lease renewal term	20 years
Lessor operating lease, termination	6 months
Lessee, initial lease term	30 years
Lessee, lease renewal term	20 years
Lessee, lease option to terminate	6 months

Goodwill and Intangible Assets and Liabilities - Schedule of Indefinite-Lived Intangible Assets (Details) $ in Millions	Dec. 31, 2025 USD ($)
FCC Spectrum licenses
Indefinite-Lived Intangible Assets [Line Items]
Indefinite-lived intangible assets	$ 78.9

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
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+ Details

Goodwill and Intangible Assets and Liabilities (Tables)

12 Months Ended

Dec. 31, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Carrying Amount of Goodwill

Changes in the carrying amount of goodwill occurring during the year ended December 31, 2025 and 2024, are as follows:


(Millions)	Kinetic		Uniti Solutions		Fiber Infrastructure (a)		Total
Goodwill as of December 31, 2023 and 2024	$	—	$	—	$	672.9	$	672.9
Accumulated impairment charges as of December 31, 2023 and 2024	—		—		(515.5)		(515.5)
Balance as of December 31, 2023 and 2024	—		—		157.4		157.4
Acquisition of Windstream	763.7		192.2		45.0		1,000.9
Balance as of December 31, 2025	$	763.7	$	192.2	$	202.4	$	1,158.3

Goodwill as of December 31, 2025	$	763.7	$	192.2	$	717.9	$	1,673.8
Accumulated impairment charges as of December 31, 2025	—		—		(515.5)		(515.5)
Balance as of December 31, 2025	$	763.7	$	192.2	$	202.4	$	1,158.3

(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 December 31, 2025:


(Millions)
FCC Spectrum licenses	$	78.9

Schedule of Carrying Value of Other Intangible Assets

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


	December 31, 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	$	(104.8)	$	645.2	$	—	$	—	$	—
Customer lists	416.1		(197.1)		219.0		416.1		(174.3)		241.8
IPv4 addresses (a)	179.7		(4.4)		175.3		—		—		—
Trade name	115.0		(3.2)		111.8		—		—		—
Contracts	52.5		(34.5)		18.0		52.5		(27.9)		24.6
Rights of way	48.6		(3.5)		45.1		10.5		(1.5)		9.0
Total	$	1,561.9	$	(347.5)	$	1,214.4	$	479.1	$	(203.7)	$	275.4

Finite-lived intangible liabilities:
Below-market leases	$	15.2	$	(9.9)	$	5.3	$	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 $6.7 million for proceeds of $5.0 million payable in cash.

Schedule of 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 years

Intangible liabilities:

Below-market leases

straight-line

8 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)
2026	$	280.7
2027	230.7
2028	179.1
2029	124.1
2030	74.2
Thereafter	325.6
Total	$	1,214.4

Below Market Lease, Future Amortization Income

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)
2026	$	1.9
2027	1.9
2028	1.5
Total	$	5.3

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
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-Name Accounting Standards Codification
-Section 55
-Paragraph 24
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Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
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-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
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-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1A

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
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-Section 50
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-2

+ Details

Revenues - Narrative (Details) - USD ($)	12 Months Ended
Revenues - Narrative (Details) - USD ($)	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Disaggregation Of Revenue [Line Items]
Future revenues under contract	$ 2,300,000,000
Deferred contract fulfillment costs:
Disaggregation Of Revenue [Line Items]
Amortization cost	700,000	$ 0	$ 0
Deferred contract acquisition costs:
Disaggregation Of Revenue [Line Items]
Amortization cost	$ 6,100,000	$ 4,700,000	$ 4,300,000
Minimum
Disaggregation Of Revenue [Line Items]
Average remaining contract term for contracts currently billing	36 months
Maximum
Disaggregation Of Revenue [Line Items]
Average remaining contract term for contracts currently billing	48 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2026-01-01
Disaggregation Of Revenue [Line Items]
Revenue remaining performance obligation, percentage	38.00%
Average remaining contract term for contracts currently billing	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2027-01-01
Disaggregation Of Revenue [Line Items]
Revenue remaining performance obligation, percentage	28.00%
Average remaining contract term for contracts currently billing	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2028-01-01
Disaggregation Of Revenue [Line Items]
Revenue remaining performance obligation, percentage	17.00%
Average remaining contract term for contracts currently billing	1 year

Revenues - Schedule of Contract Assets and Contract Liabilities (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Capitalized Contract Cost [Line Items]
Contract assets	$ 61.7	$ 0.0
Contract liabilities	173.9	10.0
Other current assets	34.8
Other assets	26.9
Current deferred revenue	112.9	2.7
Noncurrent deferred revenue	61.0	7.3
Revenues recognized included in the opening contract liability balance	$ 4.9	3.6	$ 4.1
Windstream
Capitalized Contract Cost [Line Items]
Increase in contract assets		57.4
Increase in contract liabilities		$ 161.6

Revenues (Tables)

12 Months Ended

Dec. 31, 2025

Revenue from Contract with Customer [Abstract]

Schedule of Contract Assets and Contract Liabilities

Contract assets and liabilities from contracts with customers were as follows at December 31:


(Millions)	2025		2024
Contract assets (a)	$	61.7	$	—
Contract liabilities (b)	$	173.9	$	10.0

(a)Included $34.8 million in other current assets and $26.9 million in other assets as of December 31, 2025. Of the total increase in contract assets from December 31, 2024, $57.4 million of the increase was attributable to the Merger.

(b)Included $112.9 million and $2.7 million in current deferred revenue and $61.0 million and $7.3 million in noncurrent deferred revenue as of December 31, 2025 and 2024, respectively. Of the total increase in contract liabilities from December 31, 2024, $161.6 million was attributable to the Merger.


(Millions)	2025		2024		2023
Revenues recognized included in the opening contract liability balance	$	4.9	$	3.6	$	4.1

Schedule of Revenues Disaggregated by Revenue Stream

Revenues disaggregated by category were as follows:


	For the Year Ended December 31, 2025
(Millions)	Kinetic		Uniti Solutions		Fiber Infrastructure		Total
Category:
Consumer:
Fiber subscriber	$	195.4	$	—	$	—	$	195.4
DSL subscriber and other	257.0		—		—		257.0
Uniti Solutions:
Managed services	—		299.0		—		299.0
TDM	—		18.7		—		18.7
Business services	165.7		—		—		165.7
Switched access	5.5		—		—		5.5
Uniti Fiber	—		—		226.5		226.5
Wholesale	136.7		—		110.4		247.1
Total service revenues accounted for under ASC 606	760.3		317.7		336.9		1,414.9
Sales revenues	34.7		0.6		11.2		46.5
Total revenues and sales accounted for under ASC 606	795.0		318.3		348.1		1,461.4
Operating lease income	43.8		0.2		625.4		669.4
Other service and sales revenues (a)	70.2		11.6		21.9		103.7
Total revenues and sales	$	909.0	$	330.1	$	995.4	$	2,234.5


	For the Year Ended December 31, 2024
(Millions)	Kinetic		Uniti Solutions		Fiber Infrastructure		Total
Category:
Consumer:
Fiber subscriber	$	—	$	—	$	—	$	—
DSL subscriber and other	—		—		—		—
Uniti Solutions:
Managed services	—		—		—		—
TDM	—		—		—		—
Business services	—		—		—		—
Switched access	—		—		—		—
Uniti Fiber	—		—		220.9		220.9
Wholesale	—		—		6.5		6.5
Total service revenues accounted for under ASC 606	—		—		227.4		227.4
Sales revenues	—		—		10.3		10.3
Total revenues and sales accounted for under ASC 606	—		—		237.7		237.7
Operating lease income	—		—		921.4		921.4
Other service and sales revenues (a)	—		—		7.8		7.8
Total revenues and sales	$	—	$	—	$	1,166.9	$	1,166.9


	For the Year Ended December 31, 2023
(Millions)	Kinetic		Uniti Solutions		Fiber Infrastructure		Total
Category:
Consumer:
Fiber subscriber	$	—	$	—	$	—	$	—
DSL subscriber and other	—		—		—		—
Uniti Solutions:
Managed services	—		—		—		—
TDM	—		—		—		—
Business services	—		—		—		—
Switched access	—		—		—		—
Uniti Fiber	—		—		215.2		215.2
Wholesale	—		—		6.9		6.9
Total service revenues accounted for under ASC 606	—		—		222.1		222.1
Sales revenues	—		—		15.9		15.9
Total revenues and sales accounted for under ASC 606	—		—		238.0		238.0
Operating lease income	—		—		910.9		910.9
Other service and sales revenues (a)	—		—		0.9		0.9
Total revenues and sales	$	—	$	—	$	1,149.8	$	1,149.8

(a)Other service and sales revenues primarily consist of end user surcharges, funding from the RDOF and state USF, and revenues from sales-type leases.

Schedule of Capitalized Contract Cost

The following table presents the deferred contract acquisition and fulfillment costs as of December 31:


(Millions)	2025		2024
Deferred contract acquisition costs:
Prepaid expenses	$	9.3	$	4.1
Other assets	16.6		6.8
Total deferred contract acquisition costs	$	25.9	$	10.9
Deferred contract fulfillment costs:
Prepaid expenses	$	3.0	$	—
Other assets	6.5		—
Total deferred contract fulfillment costs	$	9.5	$	—

Supplementary Unrestricted Subsidiary Information (Unaudited) (Tables)

12 Months Ended

Dec. 31, 2025

Condensed Financial Information Disclosure [Abstract]

Schedule of Consolidated Balance Sheet Information Reflecting the Elimination of the Accounts of Unrestricted Subsidiaries

Below are the unaudited consolidated balance sheets as of December 31, 2025 and 2024, and the unaudited consolidated statements of income (loss) for the year ended December 31, 2025 and 2024 respectively, of such unrestricted subsidiaries:


	As of December 31, 2025
(Millions)	Unrestricted Subsidiaries		Restricted Subsidiaries		Eliminations		Consolidated
Assets:
Current assets:
Cash and cash equivalents	$	5.4	$	48.1	$	—	$	53.5
Restricted cash	75.2		5.4		—		80.6
Accounts receivable, net	18.0		394.6		(53.6)		359.0
Inventories	—		44.0		—		44.0
Prepaid expenses	—		137.6		—		137.6
Other current assets	—		156.3		—		156.3
Total current assets	98.6		786.0		(53.6)		831.0
Goodwill	—		1,158.3		—		1,158.3
Intangible assets, net	—		1,293.3		—		1,293.3
Property, plant and equipment, net	614.4		7,527.5		—		8,141.9
Operating lease right-of-use assets, net	—		516.6		—		516.6
Other assets	23.4		103.2		(31.0)		95.6
Total assets	$	736.4	$	11,384.9	$	(84.6)	$	12,036.7
Liabilities and shareholders' equity (deficit):
Current liabilities:
Current portion of long-term debt	$	—	$	10.0	$	—	$	10.0
Accounts payable	47.7		177.4		(53.6)		171.5
Deferred revenue	7.4		233.5		(1.1)		239.8
Current portion of operating lease obligations	—		122.6		—		122.6
Accrued taxes	0.5		51.3		—		51.8
Accrued interest	10.3		128.5		—		138.8
Other current liabilities	—		389.4		—		389.4
Total current liabilities	65.9		1,112.7		(54.7)		1,123.9
Notes and other debt, net	822.1		8,728.6		(21.3)		9,529.4
Noncurrent operating lease obligations	—		360.5		—		360.5
Noncurrent deferred revenue	62.5		314.8		(8.6)		368.7
Deferred income tax assets, net	—		17.7		—		17.7
Other liabilities	—		256.1		—		256.1
Total liabilities	950.5		10,790.4		(84.6)		11,656.3
Shareholders' (deficit) equity:
Total shareholders' (deficit) equity	(214.1)		594.5		—		380.4
Total liabilities and shareholders' equity (deficit)	$	736.4	$	11,384.9	$	(84.6)	$	12,036.7


	As of December 31, 2024
(Millions)	Unrestricted Subsidiaries		Restricted Subsidiaries		Eliminations		Consolidated
Assets:
Current assets:
Cash and cash equivalents	$	1.7	$	153.9	$	—	$	155.6
Restricted cash	28.1		0.1		—		28.2
Accounts receivable, net	9.0		46.4		(3.9)		51.5
Prepaid expenses	—		16.2		—		16.2
Other current assets	0.1		18.0		—		18.1
Total current assets	38.9		234.6		(3.9)		269.6
Goodwill	—		157.4		—		157.4
Intangible assets, net	—		275.4		—		275.4
Property, plant and equipment, net	446.5		3,763.2		—		4,209.7
Operating lease right-of-use assets, net	—		126.8		—		126.8
Deferred income tax assets, net	—		128.0		—		128.0
Other assets	0.8		284.9		(170.5)		115.2
Total assets	$	486.2	$	4,970.3	$	(174.4)	$	5,282.1
Liabilities and shareholders' equity (deficit):
Current liabilities:
Accounts payable	$	3.2	$	14.3	$	(3.9)	$	13.6
Deferred revenue	4.6		79.9		—		84.5
Current portion of operating lease obligations	—		12.7		—		12.7
Accrued taxes	0.2		6.9		—		7.1
Accrued interest	0.9		143.0		—		143.9
Other current liabilities	—		118.9		—		118.9
Total current liabilities	8.9		375.7		(3.9)		380.7
Notes and other debt, net	271.3		5,512.3		—		5,783.6
Noncurrent operating lease obligations	—		67.8		—		67.8
Noncurrent deferred revenue	38.8		1,277.7		—		1,316.5
Other liabilities	—		185.4		—		185.4
Total liabilities	319.0		7,418.9		(3.9)		7,734.0
Shareholders' equity (deficit):
Total shareholders' equity (deficit)	167.2		(2,448.6)		(170.5)		(2,451.9)
Total liabilities and shareholders' equity (deficit)	$	486.2	$	4,970.3	$	(174.4)	$	5,282.1

Schedule of Consolidating Statement of Operations Information Reflecting The Elimination of the Accounts of Unrestricted Subsidiaries


	For the Year Ended December 31, 2025
(Millions)	Unrestricted Subsidiaries		Restricted Subsidiaries		Eliminations		Consolidated
Total revenues and sales	$	152.0	$	2,152.6	$	(70.1)	$	2,234.5
Costs and expenses:
Cost of services (exclusive of depreciation and amortization)	53.0		687.5		(53.9)		686.6
Cost of sales (exclusive of depreciation and amortization)	—		56.0		—		56.0
Selling, general and administrative	18.1		349.6		(16.2)		351.5
Depreciation and amortization	25.4		641.2		—		666.6
Gain on sale of operating assets	—		—		—		—
Transaction related and other costs	—		211.8		—		211.8
Total costs and expenses	96.5		1,946.1		(70.1)		1,972.5
Operating income	55.5		206.5		—		262.0
Other expense, net	—		8.1		—		8.1
Loss on extinguishment of debt	—		(183.0)		—		(183.0)
Gain on settlement of preexisting relationships	0.2		1,683.7		—		1,683.9
Interest expense, net	(41.7)		(561.1)		—		(602.8)
Income before income taxes	14.0		1,154.2		—		1,168.2
Income tax benefit	—		136.5		—		136.5
Net income	$	14.0	$	1,290.7	$	—	$	1,304.7


	For the Year Ended December 31, 2024
(Millions)	Unrestricted Subsidiaries		Restricted Subsidiaries		Eliminations		Consolidated
Total revenues and sales	$	71.5	$	1,109.6	$	(14.2)	$	1,166.9
Costs and expenses:
Cost of services (exclusive of depreciation and amortization)	—		128.6		—		128.6
Cost of sales (exclusive of depreciation and amortization)	—		11.7		—		11.7
Selling, general and administrative	32.9		86.3		(14.2)		105.0
Depreciation and amortization	17.3		297.6		—		314.9
Gain on sale of operating assets	—		(19.0)		—		(19.0)
Transaction related and other costs	—		38.7		—		38.7
Total costs and expenses	50.2		543.9		(14.2)		579.9
Operating income	21.3		565.7		—		587.0
Other income, net	—		0.3		—		0.3
Loss on extinguishment of debt	—		—		—		—
Interest expense, net	(24.1)		(487.3)		—		(511.4)
(Loss) income before income taxes	(2.8)		78.7		—		75.9
Income tax benefit	—		17.5		—		17.5
Net (loss) income	$	(2.8)	$	96.2	$	—	$	93.4

Leases - Schedule of Components of Lease Income (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Leases [Abstract]
Lease income - operating leases	$ 669.4	$ 921.4	$ 910.9
Operating Lease, Lease Income, Statement of Income or Comprehensive Income [Extensible Enumeration]	Total revenues and sales	Total revenues and sales	Total revenues and sales

Stock-Based Compensation - Schedule of Assumptions used to Value Purchase Rights Granted Under ESPP (Details) - Employee Stock Purchase Plan	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected term (years)	6 months	6 months	6 months
Expected volatility	50.00%	59.00%	58.00%
Expected annual dividend	0.00%	18.70%	12.20%
Risk free rate	3.80%	5.30%	5.40%

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
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-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Subparagraph (f)(2)(i)
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147480483/718-10-35-1D

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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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Reference 17: http://www.xbrl.org/2003/role/disclosureRef
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Reference 18: http://www.xbrl.org/2003/role/disclosureRef
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Reference 19: http://www.xbrl.org/2003/role/disclosureRef
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Reference 20: http://www.xbrl.org/2003/role/disclosureRef
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Reference 24: http://www.xbrl.org/2003/role/disclosureRef
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Reference 25: http://www.xbrl.org/2003/role/disclosureRef
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Reference 26: http://www.xbrl.org/2003/role/disclosureRef
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Reference 29: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Basis of Presentation and Consolidation	12 Months Ended
Basis of Presentation and Consolidation	Dec. 31, 2025
Accounting Policies [Abstract]
Basis of Presentation and Consolidation	Basis of Presentation and Consolidation: Basis of Presentation – The accompanying consolidated financial statements include all accounts of the Company and its wholly owned and/or controlled subsidiaries. All material intercompany balances and transactions have been eliminated. The Company also consolidates variable interest entities or (“VIEs”) in instances in which it is deemed to be the primary beneficiary. For periods prior to the Merger, the Operating Partnership was considered a VIE, because Old Uniti was deemed to be the primary beneficiary as it had both the power to direct the activities that, when taken together, most significantly impacted the Operating Partnership’s performance; and had the obligation to absorb losses and right to receive the returns from the Operating Partnership that would be significant to the Operating Partnership. After the Merger, the Company does not hold interests in any VIEs. The accompanying consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for financial information set forth in the Accounting Standards Codification (“ASC”), as published by the Financial Accounting Standards Board (“FASB”), and with the applicable rules and regulations of the U.S. Securities and Exchange Commission (“SEC”). Because Old Uniti was treated as the accounting acquirer, financial information for periods prior to the Merger reflect the historical activity of Old Uniti. For periods after the Merger, the consolidated financial statements reflect the combined results of Old Uniti and Windstream. See Note 4 for additional information related to the Merger. As previously discussed in Note 1, each outstanding share of Old Uniti common stock was converted into the right to receive 0.6029 shares of Common Stock pursuant to the exchange ratio set forth in the Merger Agreement. Historical share and per share data of Old Uniti has been retrospectively adjusted to reflect the exchange ratio for all periods presented. Reclassifications – For periods prior to the Merger, as a REIT, Old Uniti presented an unclassified balance sheet, and following the Merger, the Company has presented a classified balance sheet. Accordingly, the consolidated balance sheet as of December 31, 2024 has been reclassified to present current assets and current liabilities separate and apart from noncurrent assets and liabilities and to combine or further disaggregate certain balance sheet line items. The changes included (1) reclassifying to prepaid expenses $16.2 million and to other current assets $18.1 million, which were previously included in other assets; (2) reclassifying the previously reported straight-line revenue receivable of $108.9 million to other current assets for the current portion of $10.5 million and to other assets for the noncurrent portion of $98.4 million; (3) reclassifying to accounts payable $13.6 million and to accrued taxes $7.1 million, which were previously included within accounts payable, accrued expenses and other liabilities, net; (4) reclassifying to other current liabilities the previously reported settlement payable of $71.8 million, dividends payable of $0.6 million, current portion of finance lease obligations of $2.7 million, and $43.8 million previously included within accounts payable, accrued expenses and other liabilities, net; and (5) reclassifying to other noncurrent liabilities the previously reported intangibles liabilities, net of $145.7 million, noncurrent portion of finance lease obligations of $14.5 million and $25.2 million previously included within accounts payable, accrued expenses and other liabilities, net. These reclassifications had no effect on previously reported total assets, total liabilities and total shareholders’ deficit as of December 31, 2024. In addition, the prior period consolidated statements of income have been reclassified to (1) present sales revenues separate and apart from service revenues, (2) disaggregate operating expenses into cost of services and cost of sales, (3) present an operating income subtotal and (4) present loss on extinguishment of debt separate and apart from interest expense, net. These reclassifications did not impact previously reported net income or comprehensive income for the years ended December 31, 2024 and December 31, 2023. Finally, the prior period consolidated statements of cash flows and consolidated statements of shareholders’ deficit were reclassified to combine or further disaggregate certain financial statement line items. These reclassifications did not impact previously reported net cash provided from operating activities, net cash used in investing activities, net cash provided from financing activities or net increase in cash, restricted cash and cash equivalents for the years ended December 31, 2024 and December 31, 2023, nor change previously reported total shareholders’ deficit for the years ended December 31, 2024 and December 31, 2023.

Insider Trading Policies and Procedures	12 Months Ended
Insider Trading Policies and Procedures	Dec. 31, 2025
Insider Trading Policies and Procedures [Line Items]
Insider Trading Policies and Procedures Adopted	true

Schedule I – Condensed Financial Information of The Registrant (Parent Company) - Condensed Statements of Cash Flows (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Cash flows from operating activities:
Net cash (used in) provided from operating activities	$ 350.2	$ 366.6	$ 353.2
Cash flows from investing activities:
Merger cash consideration paid	229.5	0.0	0.0
Net cash used in investing activities	(1,011.7)	(272.2)	(411.3)
Cash flows from financing activities:
Dividends paid	0.0	(108.5)	(107.4)
Net cash provided from financing activities	611.8	27.1	76.6
Net (decrease) increase in cash, restricted cash and cash equivalents	(49.7)	121.5	18.5
Cash, restricted cash and cash equivalents at beginning of period	183.8	62.3	43.8
Cash, restricted cash and cash equivalents at end of period	134.1	183.8	62.3
Uniti Group Inc.
Cash flows from operating activities:
Net cash (used in) provided from operating activities	(0.5)	108.3	104.6
Cash flows from investing activities:
Merger cash consideration paid	(370.7)	0.0	0.0
Net cash used in investing activities	(370.7)	0.0	0.0
Cash flows from financing activities:
Dividends paid	0.0	(108.5)	(107.4)
Intercompany transactions, net	372.0	1.4	1.4
Other	(1.7)	(0.9)	(0.7)
Net cash provided from financing activities	370.3	(108.0)	(106.7)
Net (decrease) increase in cash, restricted cash and cash equivalents	(0.9)	0.3	(2.1)
Cash, restricted cash and cash equivalents at beginning of period	0.9	0.6	2.7
Cash, restricted cash and cash equivalents at end of period	$ 0.0	$ 0.9	$ 0.6

Notes and Other Debt, Net (Tables)

12 Months Ended

Dec. 31, 2025

Long-Term Debt, Unclassified [Abstract]

Schedule of Notes and Other Debt

Notes and other debt were as follows:


	December 31, 2025				December 31, 2024
(Millions)	Principal		Unamortized Premium (Discount) and Deferred Financing Costs		Principal		Unamortized Premium (Discount) and Deferred Financing Costs
Credit Agreements:
Uniti senior secured revolving credit facility - variable rate, due December 30, 2027	$	—	$	(2.9)	$	—	$	(4.3)
Windstream senior secured revolving credit facility - variable rate, due December 30, 2027	315.0		—		—		—
Senior secured Windstream term loan - variable rate, due October 1, 2031 (premium based on imputed interest rate of 9.15%)	500.0		1.2		—		—
Senior secured 2025 term loan - variable rate, due October 6, 2032 (discount based on imputed interest rate of 8.57%)	1,000.0		(23.6)		—		—
Notes:
Senior secured notes - 10.50%, due February 15, 2028 (discount based on imputed interest rate of 10.99%)	—		—		2,900.0		(37.5)
Senior secured notes - 4.75%, due April 15, 2028 (discount based on imputed interest rate of 5.04%)	570.0		(3.6)		570.0		(5.0)
Senior secured notes - 8.25%, due October 1, 2031 (premium based on imputed interest rate of 7.29%)	2,200.0		99.3		—		—
Senior secured notes - 7.50%, due October 15, 2033 (discount based on imputed interest rate of 7.72%)	1,400.0		(17.8)		—		—
Senior unsecured notes - 6.50%, due February 15, 2029 (discount based on imputed interest rate of 6.83%)	1,110.0		(10.3)		1,110.0		(13.1)
Senior unsecured notes - 6.00%, due January 15, 2030 (discount based on imputed interest rate of 6.27%)	700.0		(6.6)		700.0		(8.0)
Senior unsecured notes - 8.625%, due June 15, 2032 (discount based on imputed interest rate of 9.16%)	600.0		(15.6)		—		—
Convertible senior notes - 7.50%, due December 1, 2027 (discount based on imputed interest rate of 8.29%)	306.5		(4.3)		306.5		(6.3)
ABS Notes and Bridge Loan Facility:
ABS Bridge Loan Facility - variable rate, due September 1, 2025 (discount based on imputed interest rate of 10.33%)	—		—		275.0		(3.7)
Series 2025-1:
ABS Notes (Class A-2) - 5.877%, due April 1, 2030 (discount based on imputed interest rate of 6.36%)	426.0		(7.6)		—		—
ABS Notes (Class B) - 6.369%, due April 1, 2030 (discount based on imputed interest rate of 6.86%)	65.0		(1.2)		—		—
ABS Notes (Class C) - 9.018%, due April 1, 2030 (discount based on imputed interest rate of 9.54%)	98.0		(1.8)		—		—
Series 2025-2:
ABS-2 Notes (Class A-2) - 5.177%, due January 20, 2031 (discount based on imputed interest rate of 5.76%)	180.0		(4.5)		—		—
ABS-2 Notes (Class B) - 5.621%, due January 20, 2031 (discount based on imputed interest rate of 6.21%)	28.2		(0.7)		—		—
ABS-2 Notes (Class C) - 7.834%, due January 20, 2031 (discount based on imputed interest rate of 8.45%)	41.8		(1.1)		—		—
Total	$	9,540.5	$	(1.1)	$	5,861.5	$	(77.9)

Notes and other debt, net were as follows:


(Millions)	December 31, 2025		December 31, 2024
Total principal amount	$	9,540.5	$	5,861.5
Unamortized premium (discount) and deferred financing costs	(1.1)		(77.9)
Less current portion of notes and other debt	(10.0)		—
Notes and other debt, net	$	9,529.4	$	5,783.6

Schedule of Interest Expense, Net

Interest expense, net was as follows for the years ended December 31:


(Millions)	2025		2024		2023
Senior secured notes	$	381.5	$	321.1	$	296.3
Senior unsecured notes	164.0		139.4		142.2
Senior secured revolving credit facility - variable rate	10.8		7.2		14.1
ABS Notes and Bridge Loan Facility	39.4		18.9		—
Interest rate cap	0.7		1.5		—
Interest rate swaps	(2.3)		—		—
Amortization of deferred financing costs and debt premium/discount	14.3		22.7		18.5
Accretion of settlement payable	1.7		6.2		10.5
Capitalized interest	(9.7)		(2.8)		(1.3)
Other	2.4		(2.8)		0.9
Total interest expense, net	$	602.8	$	511.4	$	481.2

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(22))
-SubTopic 10
-Topic 210
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 942
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+ Details

Leases - Schedule of Components of Lease Cost (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Leases [Abstract]
Amortization of ROU assets	$ 7.7	$ 4.2	$ 4.1
Interest on lease liabilities	3.0	1.7	1.6
Total finance lease cost	10.7	5.9	5.7
Operating lease cost	81.3	24.9	23.0
Short-term lease cost	12.5	4.2	3.5
Variable lease cost	1.4	0.6	0.9
Less sublease income	(22.5)	(17.8)	(14.6)
Net lease cost	$ 83.4	$ 17.8	$ 18.5

Fair Value of Financial Instruments - Schedule of Fair Value of Financial Instruments (Details) - Level 2 - USD ($) $ in Millions	Dec. 31, 2025	Dec. 31, 2024
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Settlement Payable	$ 0.0	$ 71.7
Current portion of long term debt
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Notes and other debt	10.1	0.0
Long term debt
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Notes and other debt	9,648.3	5,879.2
Reported Value Measurement
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Notes and other debt	9,630.8	5,868.7
Interest rate cap:
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Derivative asset	0.0	0.1
Interest rate swap:
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Derivative asset	0.3	0.0
Derivative liabilities	$ 7.2	$ 0.0

Leases - Schedule of Future Lease Payments under Non-Cancellable Leases (Details) - USD ($) $ in Millions	Dec. 31, 2025	Dec. 31, 2024
Operating Leases
2026	$ 127.8
2027	106.7
2028	81.1
2029	60.1
2030	46.0
Thereafter	139.3
Total undiscounted lease payments	561.0
Less imputed interest	(77.9)
Total lease liabilities	483.1	$ 80.5
Finance Leases
2026	10.5
2027	9.3
2028	8.3
2029	7.6
2030	7.0
Thereafter	38.8
Total undiscounted lease payments	81.5
Less imputed interest	(24.4)
Total lease liabilities	$ 57.1	$ 17.2

Commitments and Contingencies (Details) $ in Millions	1 Months Ended	7 Months Ended
Commitments and Contingencies (Details) $ in Millions	Oct. 31, 2020 USD ($)	Jul. 31, 2025 USD ($)	Aug. 01, 2025 USD ($)	Oct. 01, 2020 USD ($) installment day
Commitments And Contingencies [Line Items]
Other commitment, reimbursement default period threshold \| day				30
Windstream Commitment
Commitments And Contingencies [Line Items]
Other commitment				$ 490.1
Number of installments \| installment				20
Percentage of committed purchase of assets				9.00%
First five quarterly cash payments to be made after emergence		$ 484.9
Windstream Commitment, Growth Capital Improvements
Commitments And Contingencies [Line Items]
Other commitment				$ 1,750.0
Growth capital improvements fund annual limit	$ 250.0
Growth capital improvements reimbursement amount		$ 175.0
Growth capital improvements reimbursement amount made to date			$ 1,200.0
Windstream Commitment, Growth Capital Improvements \| Maximum
Commitments And Contingencies [Line Items]
Other commitment, to be paid, year one				225.0
Other commitment, to be paid, year two				175.0
Other commitment, to be paid, year three				175.0
Other commitment, to be paid, year four				125.0
Other commitment, to be paid, year five				125.0
Other commitment, to be paid, year six				125.0
Windstream Commitments, Growth Capital Improvements, Cost Reimbursements
Commitments And Contingencies [Line Items]
Other commitment				70.0
Windstream Commitments, Equipment Loan and Security Agreements
Commitments And Contingencies [Line Items]
Accrued interest rate for borrowing	8.00%
Windstream Commitments, Equipment Loan and Security Agreements \| Maximum
Commitments And Contingencies [Line Items]
Other commitment				$ 125.0
New lease, aggregate reimbursements made for certain growth capital improvements	$ 25.0
Windstream
Commitments And Contingencies [Line Items]
Annual rent adjustment	8.00%
Rate used for rent percentage	100.50%
Maximum funding rights allocated per year upon transfer of interests	$ 20.0

Stock-Based Compensation - Additional Information (Details)		12 Months Ended
	May 03, 2024 shares	Dec. 31, 2025 USD ($) plan shares	Dec. 31, 2024 USD ($) shares	Dec. 31, 2023 USD ($) shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Compensation expense recognized during the period \| $		$ 23,500,000	$ 13,500,000	$ 12,500,000
Restricted Awards
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Awards vesting period		3 years
Total fair value of shares vesting \| $		$ 7,800,000	$ 5,200,000	$ 3,800,000
Unrecognized compensation expense \| $		$ 23,400,000
Weighted average vesting period		1 year 3 months 18 days
Restricted Awards \| 2025 Equity Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares available for future issuance (in shares)		5,737,993
Performance Awards
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized compensation expense \| $		$ 13,500,000
Weighted average vesting period		1 year 10 months 24 days
Performance period		3 years
Dividend yield		0.00%	0.00%	0.00%
Performance Awards \| Minimum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage of target shares		0.00%
Performance Awards \| Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage of target shares		200.00%
Employee Stock Purchase Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Dividend yield		0.00%	18.70%	12.20%
Maximum employee subscription rate based on annual earnings, percentage		15.00%
Maximum amount withheld by employee to purchase common stock \| $		$ 25,000
Purchase price of common stock, percentage		85.00%
Employee Stock Purchase Plan \| 2018 Employee Stock Purchase Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares authorized (in shares)		1,205,800
Number of employee stock purchase plans periods per year \| plan		2
Employee stock purchase plan period		6 months
Issuance of common stock - employee stock purchase plan (in shares)		71,847	130,337	104,085
Employee Stock Purchase Plan \| 2025 Employee Stock Purchase Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares available for future issuance (in shares)		1,000,000
Number of shares authorized (in shares)		1,000,000
Common Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Exchange of noncontrolling interest (in shares)	0.6029

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Dec. 31, 2025
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Schedule I – Condensed Financial Information of The Registrant (Parent Company) - Narrative (Details) $ / shares in Units, $ in Millions			12 Months Ended
	Aug. 01, 2025 USD ($) agreement	May 03, 2024 USD ($) $ / shares shares	Dec. 31, 2025 USD ($) $ / shares	Dec. 31, 2024 USD ($) $ / shares	Dec. 31, 2023 USD ($)
Condensed Financial Statements Captions [Line Items]
Common stock, par value (in dollars per share) \| $ / shares			$ 0.0001	$ 0.0001
Gain on settlement of preexisting relationships			$ 1,683.9	$ 0.0	$ 0.0
Senior secured notes - 7.50%, due October 15, 2033 (discount based on imputed interest rate of 7.72%)
Condensed Financial Statements Captions [Line Items]
Issuance senior notes, stated percentage			7.50%
Uniti Group LP
Condensed Financial Statements Captions [Line Items]
Percentage of partnership interests owned	100.00%
Uniti Group Inc.
Condensed Financial Statements Captions [Line Items]
Common stock, par value (in dollars per share) \| $ / shares			$ 0.0001	$ 0.0001
Gain on settlement of preexisting relationships			$ 499.1	$ 0.0	0.0
Cash dividends received from subsidiaries				$ 106.7	$ 106.4
Uniti Group, PreMerger Assets Settled
Condensed Financial Statements Captions [Line Items]
Number of lease agreements \| agreement	2
Useful life	20 years
Operating lease assets, including discontinued operation	$ 559.0
Asset purchase agreement, liabilities, including discontinued operation	(60.0)
Other lease agreement assets, including discontinued operation	$ 0.1
Windstream Merger
Condensed Financial Statements Captions [Line Items]
Preferred stock, dividend rate, annual increase, percentage		1.00%
Preferred stock, liquidation preference, value		$ 575.0
Common stock aggregate at an exercise price (in dollars per share) \| $ / shares		$ 0.01
Class of warrant or right, outstanding stock, percentage		6.90%
Business combination, consideration transferred		$ 370.7
Windstream Merger \| Maximum
Condensed Financial Statements Captions [Line Items]
Preferred stock, dividend rate, percentage		16.00%
Windstream Merger \| Period One
Condensed Financial Statements Captions [Line Items]
Preferred stock, dividend rate, percentage		11.00%
Preferred stock, dividend rate, percentage, term		6 years
Windstream Merger \| Period Two
Condensed Financial Statements Captions [Line Items]
Preferred stock, dividend rate, annual increase, percentage		0.50%
Non Voting Preferred Stock
Condensed Financial Statements Captions [Line Items]
Business combination, consideration transferred, equity interest, share issued (in shares) \| shares		600,000
Old Common Stock Member
Condensed Financial Statements Captions [Line Items]
Common stock, par value (in dollars per share) \| $ / shares			$ 0.0001
Common Stock
Condensed Financial Statements Captions [Line Items]
Exchange of noncontrolling interest (in shares) \| shares		0.6029
Warrants (in shares) \| shares		17,600,000
Common Stock \| Windstream Merger
Condensed Financial Statements Captions [Line Items]
Business combination, consideration transferred, equity interest, share issued (in shares) \| shares		90,100,000
Remaining equity interest acquired percentage		35.42%

Income Taxes - Schedule of Income Tax Expense (Benefit) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Current:
Federal	$ 2.9	$ 0.3	$ 0.8
State	(9.9)	(1.7)	(0.8)
Total current expense	(7.0)	(1.4)	0.0
Deferred:
Federal	113.6	14.8	53.2
State	29.9	4.1	15.3
Total deferred benefit	143.5	18.9	68.5
Total income tax benefit	$ 136.5	$ 17.5	$ 68.5

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
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-Name Accounting Standards Codification
-Section 55
-Paragraph 4
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-URI https://asc.fasb.org/1943274/2147476153/220-40-55-4

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-Topic 220
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org/1943274/2147476153/220-40-55-21

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Topic 220
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-URI https://asc.fasb.org/1943274/2147476153/220-40-55-14

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Notes and Other Debt, Net - Windstream Credit Agreement (Details) - USD ($) $ in Millions		12 Months Ended
	Oct. 06, 2025	Dec. 31, 2025	Dec. 31, 2024
Debt Instrument [Line Items]
Notes and other debt, net		$ 9,540.5	$ 5,861.5
Senior Secured Windstream Term Loan - Variable Rate, Due October 1, 2031
Debt Instrument [Line Items]
Notes and other debt, net		$ 500.0	$ 0.0
Effective interest rate		9.15%
Senior Secured Windstream Term Loan - Variable Rate, Due October 1, 2031 \| Base Rate
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		4.75%
Senior Secured Windstream Term Loan - Variable Rate, Due October 1, 2031 \| Adjusted Term SOFR
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		3.75%
Debt instrument, basis spread on variable rate		0.00%
Senior Secured Windstream Term Loan - Variable Rate, Due October 1, 2031 \| Minimum \| Base Rate
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		2.75%
Senior Secured Windstream Term Loan - Variable Rate, Due October 1, 2031 \| Minimum \| Secured Overnight Financing Rate (SOFR)
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		3.75%
Senior Secured Windstream Term Loan - Variable Rate, Due October 1, 2031 \| Maximum \| Base Rate
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		3.50%
Senior Secured Windstream Term Loan - Variable Rate, Due October 1, 2031 \| Maximum \| Secured Overnight Financing Rate (SOFR)
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		4.50%
Windstream Term Loan
Debt Instrument [Line Items]
Notes and other debt, net		$ 500.0
Mandatory prepayment percentage		100.00%
Variable rate, additional step-down		50.00%
Minimum fixed charge coverage ratio		1.50%
Maximum fixed charge coverage ratio		1.00%
Percentage of first lien senior secured leverage ratio		0.00%
Net cash proceeds received		100.00%
Weighted average interest rate		9.10%
Windstream Term Loan \| Minimum
Debt Instrument [Line Items]
Effective interest rate		8.57%
Windstream Term Loan \| Maximum
Debt Instrument [Line Items]
Effective interest rate		9.21%
2025 Term Loan
Debt Instrument [Line Items]
Debt term	7 years
Issuance of senior notes, principal amount	$ 1,000.0
Debt instrument, redemption price, percentage		1.00%
Weighted average interest rate		7.98%
2025 Term Loan \| Base Rate
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		4.00%
2025 Term Loan \| Adjusted Term SOFR
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		3.00%
Debt instrument, basis spread on variable rate		0.00%
2025 Term Loan \| Minimum
Debt Instrument [Line Items]
Effective interest rate		7.72%
2025 Term Loan \| Maximum
Debt Instrument [Line Items]
Effective interest rate		8.11%
Windstream Credit Agreement
Debt Instrument [Line Items]
Remaining borrowing capacity		$ 42.4
Weighted average interest rate		8.45%
Line of credit facility, maximum borrowing capacity		$ 460.0
Repayments of lines of credit		180.0
Letters of credit outstanding		$ 117.6
Covenant maximum leverage ratio		5.00
Windstream Credit Agreement \| Revolving Credit Facility Capacity Through January 23, 2027
Debt Instrument [Line Items]
Remaining borrowing capacity	475.0
Windstream Credit Agreement \| Revolving Credit Facility Capacity Through December 30, 2027
Debt Instrument [Line Items]
Remaining borrowing capacity	$ 425.0
Windstream Credit Agreement \| Minimum
Debt Instrument [Line Items]
Effective interest rate		7.82%
Windstream Credit Agreement \| Maximum
Debt Instrument [Line Items]
Effective interest rate		10.75%

Basis of Presentation and Summary of Significant Accounting Policies - Narrative (Details)		3 Months Ended	12 Months Ended
	May 03, 2024 shares	Mar. 31, 2025 USD ($) shares	Dec. 31, 2025 USD ($) $ / shares	Dec. 31, 2024 USD ($) $ / shares shares	Dec. 31, 2023 USD ($) $ / shares shares	Jan. 31, 2024 USD ($)
Summary Of Significant Accounting Policies [Line Items]
Depreciation expense			$ 522,800,000	$ 285,200,000	$ 280,800,000
Net income (loss) attributable to shareholders			$ 1,304,700,000	$ 93,400,000	$ (81,700,000)
Basic (in dollars per share) \| $ / shares			$ 6.61	$ 0.64	$ (0.58)
Diluted earnings (loss) per common share (in dollars per share) \| $ / shares			$ 4.87	$ 0.64	$ (0.58)
Accounts receivable, amount due from customer payment period			30 days
Unbilled revenue			$ 16,700,000	$ 3,500,000
Goodwill impairment			0	0	$ 204,000,000.0
Interest costs capitalized			9,700,000	2,800,000	1,300,000
Aggregate carrying amount of asset retirement obligations			66,400,000	16,700,000
Asset retirement obligations liabilities incurred			100,000	100,000
Asset retirement obligation, liabilities settled			2,900,000
Asset retirement obligations accretion expense recognized			2,300,000	1,000,000.0	2,800,000
Grants receivable			108,100,000	0
Advertising expense			$ 25,200,000	$ 1,600,000	$ 1,500,000
OP unit conversion ratio			1
Dividends paid (in dollars per share) \| $ / shares			$ 0	$ 0.75	$ 0.75
Windstream
Summary Of Significant Accounting Policies [Line Items]
Aggregate carrying amount of asset retirement obligations			$ 50,200,000
Depreciation and amortization
Summary Of Significant Accounting Policies [Line Items]
Investment report period lag			30 days
Common Stock
Summary Of Significant Accounting Policies [Line Items]
Exchange of noncontrolling interest (in shares) \| shares	0.6029
Cash Share Exchange
Summary Of Significant Accounting Policies [Line Items]
Exchange of noncontrolling interest (in shares) \| shares		14,722		91,188	0
Cash Share Exchange \| Common Stock
Summary Of Significant Accounting Policies [Line Items]
Exchange of noncontrolling interest (in shares) \| shares				76,466
Cash Share Purchase
Summary Of Significant Accounting Policies [Line Items]
Exchange of noncontrolling interest (in shares) \| shares				14,722
Exchange of noncontrolling interest		$ 100,000		$ 100,000
Old Uniti
Summary Of Significant Accounting Policies [Line Items]
Depreciation expense			$ 55,700,000	47,000,000.0	$ 47,000,000.0
Property, plant and equipment, net			1,100,000,000
Deferred revenue, revenue recognized			$ 30,400,000	50,900,000	50,900,000
Macquarie Asset Management \| Disposal Group, Held for Sale, Not qualified as Discontinued Operation \| CableSouth Transaction
Summary Of Significant Accounting Policies [Line Items]
Cash consideration						$ 40,000,000.0
Pretax gain from sale				$ 19,000,000.0
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal, Statement of Income or Comprehensive Income [Extensible Enumeration]				Gain (Loss) on Disposition of Assets
MIP IV MidWest Fiber Parent LLC \| Discontinued Operations, Disposed of by Sale
Summary Of Significant Accounting Policies [Line Items]
Cash consideration						$ 40,000,000.0
Pretax gain from sale				$ 2,600,000
FCC Spectrum licenses
Summary Of Significant Accounting Policies [Line Items]
Initial term			10 years
Uniti Fiber
Summary Of Significant Accounting Policies [Line Items]
Goodwill impairment					$ 204,000,000.0
Change in Accounting Method Accounted for as Change in Estimate
Summary Of Significant Accounting Policies [Line Items]
Depreciation expense			$ 6,700,000
Net income (loss) attributable to shareholders			$ 5,900,000
Basic (in dollars per share) \| $ / shares			$ 0.03
Diluted earnings (loss) per common share (in dollars per share) \| $ / shares			$ 0.03

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Cash flows from operating activities:
Net income (loss)	$ 1,304.7	$ 93.4	$ (81.7)
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	666.6	314.9	310.5
Amortization of deferred financing costs, debt discount and premium	14.3	22.7	18.5
Loss on extinguishment of debt	183.0	0.0	31.2
Deferred income taxes	(143.5)	(18.9)	(68.5)
Straight-line revenues and amortization of below-market lease intangibles	(15.4)	(30.6)	(37.9)
Stock-based compensation	23.5	13.5	12.5
Goodwill impairment	0.0	0.0	204.0
Gain on sale of operating assets	0.0	(19.0)	0.0
Gain on settlement of preexisting relationships	(1,683.9)	0.0	0.0
Provision for estimated credit losses	15.9	1.1	1.2
Other, net	8.1	7.3	7.0
Changes in operating assets and liabilities, net of acquisitions:
Accounts receivable	(8.5)	(6.2)	(4.9)
Inventory	(41.5)	0.0	0.0
Prepaid expenses	(7.5)	0.8	(1.4)
Other current assets	5.6	(1.6)	0.6
Other assets	(13.0)	(0.5)	20.6
Accounts payable	32.7	7.8	0.2
Accrued interest	(64.1)	10.2	12.4
Accrued taxes	4.9	1.2	1.4
Deferred revenue	86.1	8.2	1.0
Other current liabilities	25.9	0.0	(6.0)
Other liabilities	(11.0)	(2.1)	(1.4)
Noncurrent deferred revenue	(42.2)	(37.4)	(47.6)
Operating lease assets and lease obligations	8.0	1.8	(18.5)
Other, net	1.5	0.0	0.0
Net cash provided from operating activities	350.2	366.6	353.2
Cash flows from investing activities:
Capital expenditures	(787.8)	(354.8)	(417.0)
Merger cash consideration paid, net of cash acquired	(229.5)	0.0	0.0
Capital expenditures funded by government grants	(22.0)	0.0	0.0
Grant funds received for broadband expansion	17.0	0.0	0.0
Proceeds from sale of IPv4 addresses and other assets	10.6	2.6	5.7
Proceeds from sale of operating assets	0.0	40.0	0.0
Proceeds from sale of unconsolidated entity	0.0	40.0	0.0
Net cash used in investing activities	(1,011.7)	(272.2)	(411.3)
Cash flows from financing activities:
Proceeds from issuance of debt	4,718.0	714.0	3,106.0
Repayments of debt	(3,784.0)	(460.9)	(2,749.7)
Dividends paid	0.0	(108.5)	(107.4)
Payments of settlement obligation	(73.5)	(98.0)	(98.0)
Payments for financing costs	(235.7)	(15.8)	(71.3)
Other, net	(13.0)	(3.7)	(3.0)
Net cash provided from financing activities	611.8	27.1	76.6
Net (decrease) increase in cash, restricted cash and cash equivalents	(49.7)	121.5	18.5
Cash, restricted cash and cash equivalents at beginning of period	183.8	62.3	43.8
Cash, restricted cash and cash equivalents at end of period	$ 134.1	$ 183.8	$ 62.3

Schedule I – Condensed Financial Information of The Registrant (Parent Company) - Condensed Statements of Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Costs and expenses:
Total costs and expenses	$ 1,972.5	$ 579.9	$ 771.9
Operating loss	262.0	587.0	377.9
Other expense, net	8.1	0.3	(18.4)
Gain on settlement of preexisting relationships	1,683.9	0.0	0.0
Earnings (loss) from consolidated subsidiaries	0.0	0.0	2.7
Income tax benefit (expense)	(136.5)	(17.5)	(68.5)
Net income (loss) attributable to shareholders	1,304.7	93.4	(81.7)
Comprehensive income (loss)	1,303.4	92.8	(81.7)
Uniti Group Inc.
Costs and expenses:
General and administrative expenses	0.0	0.1	0.1
Total costs and expenses	0.0	0.1	0.1
Operating loss	0.0	(0.1)	(0.1)
Other expense, net	(0.1)	0.0	0.0
Gain on settlement of preexisting relationships	499.1	0.0	0.0
Earnings (loss) from consolidated subsidiaries	543.1	118.5	(57.8)
Interest expense	(14.5)	(24.8)	(24.6)
Income (loss) before income taxes	1,027.6	93.6	(82.5)
Income tax benefit (expense)	277.1	(0.2)	0.8
Net income (loss) attributable to shareholders	1,304.7	93.4	(81.7)
Comprehensive income (loss)	$ 1,303.4	$ 92.8	$ (81.7)

Subsequent Events	12 Months Ended
Subsequent Events	Dec. 31, 2025
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events: Debt Refinancing Transactions Kinetic ABS Offering - On January 30, 2026, Kinetic ABS Issuer LLC (the “Kinetic ABS Issuer”), an indirect, bankruptcy-remote subsidiary of the Company, completed a private offering of $960.1 million aggregate principal amount of secured fiber network revenue term notes, consisting of $677.7 million 5.219% Series 2026-1, Class A-2 term notes, $113.0 million 5.561% Series 2026-1, Class B term notes and $169.4 million 7.653% Series 2026-1, Class C term notes (collectively, the “Kinetic ABS Term Notes”), each with an anticipated repayment date (the “Kinetic ABS Term ARD”) in February 2031. The Company intends to use the net proceeds from the offering for general corporate purposes, which may include success-based capital expenditures and/or repayment of outstanding debt. The Kinetic ABS Term Notes were issued at an issue price of 100% of their respective principal amounts pursuant to an indenture, dated as of January 30, 2026 (the “Kinetic ABS Base Indenture”), as supplemented by a Series 2026-1 Supplement thereto, dated as of January 30, 2026 (the “Series 2026-1 Supplement”), in each case by and among the Kinetic ABS Issuer, Kinetic ABS AR LLC, Kinetic ABS GA LLC, Kinetic ABS KY LLC, Kinetic ABS OH LLC, Kinetic ABS TX LLC (together the “Kinetic ABS Asset Entities” and, together with the Kinetic ABS Issuer, the “Kinetic ABS Obligors”), and Wilmington Trust, National Association, as indenture trustee. In connection with the issuance of the Kinetic ABS Term Notes, the Kinetic ABS Base Indenture, as supplemented by the Series 2026-1 Supplement, also provides for up to $150.0 million of Series 2026-1, Class A-1-V variable funding notes (the “Kinetic ABS Class A-1 Variable Funding Notes”) to be issued by the Kinetic ABS Issuer. Drawings and the other terms related to the Kinetic ABS Class A-1 Variable Funding Notes are governed by the Kinetic ABS Base Indenture, as supplemented by the Series 2026-1 Supplement, and a Class A-1-V Note Purchase Agreement, dated as of January 30, 2026 (the “VFN Purchase Agreement”), among the Kinetic ABS Obligors, Uniti Kinetic Fiber LLC, as manager of the securitization program, certain committed note purchasers, conduit investors and funding agents, and Barclays Bank PLC, as the administrative agent. Subject to the future satisfaction of certain conditions described in the VFN Purchase Agreement, the committed note purchasers party thereto will provide commitments to fund the Kinetic ABS Class A-1 Variable Funding Notes from time to time (and issue certain letters of credit) on a revolving basis until the anticipated repayment date for the Kinetic ABS Class A-1 Variable Funding Notes (or, if earlier, the date on which the commitments thereunder are automatically terminated or permanently reduced to $0). The initial anticipated repayment date for the Kinetic ABS Class A-1 Variable Funding Notes is February 2029 and may be extended at the option of the Kinetic ABS Issuer for two additional one-year periods, in each case subject to the satisfaction of certain conditions described in the VFN Purchase Agreement. In connection with the issuance of the Kinetic ABS Term Notes and the Kinetic ABS Class A-1 Variable Funding Notes, the Kinetic ABS Base Indenture, as supplemented by the Series 2026-1 Supplement, also provides for up to $14.0 million of Series 2026-1, Class A-1-L liquidity funding notes (the “Kinetic ABS Class A-1 Liquidity Funding Notes” and, together with the Kinetic ABS Term Notes and the Kinetic ABS Class A-1 Variable Funding Notes, collectively, the “Series 2026-1 Notes”) to be issued by the Kinetic ABS Issuer, solely to support the securitization program’s liquidity reserve and to cover specified payment shortfalls. While the Series 2026-1 Notes are outstanding, scheduled payments of interest are required to be made on the 25th day of each calendar month, commencing on March 25, 2026. Except as with respect to the Kinetic ABS Class A-1 Liquidity Funding Notes, no principal payments will be due on the Series 2026-1 Notes prior to the applicable anticipated repayment date, unless certain rapid amortization or acceleration triggers are activated (and/or, in the case of the Kinetic ABS Class A-1 Variable Funding Notes, the occurrence and continuance of an event of default). Principal of the Kinetic ABS Class A-1 Liquidity Funding Notes, to the extent outstanding, will be due on each payment date in accordance with the securitization program’s priority of payments. The applicable interest rate for advances made under the Kinetic ABS Class A-1 Variable Funding Notes will generally be either a base rate or SOFR rate, determined at the option of the Kinetic ABS Issuer in accordance with the VFN Purchase Agreement (or an alternative rate determined in the manner provided in the VFN Purchase Agreement), plus 1.75% per annum. To the extent that a draw is funded or maintained by a conduit investor through the issuance of commercial paper, such draw shall bear interest at the CP funding rate (i.e., the cost of funds) to the conduit investor plus 1.75% per annum in the manner provided in the VFN Purchase Agreement. The issuance of the Series 2026-1 Notes represents the Company’s inaugural issuance of fiber network revenue notes for the Company’s fiber-to-the-home securitization program. The securitization program involves certain fiber network assets and certain residential customer contracts in the States of Texas, Arkansas, Kentucky, Ohio and Georgia that were sold to the Kinetic ABS Obligors at closing. As of the closing of the transactions on January 30, 2026, the Kinetic ABS Issuer has $960.1 million aggregate principal amount of revenue term notes outstanding, zero principal amount of variable funding notes outstanding and zero principal amount of liquidity funding notes outstanding. The Kinetic ABS Base Indenture allows the Kinetic ABS Issuer to issue additional series of notes subject to certain conditions set forth therein. The Series 2026-1 Notes are obligations only of the Kinetic ABS Obligors pursuant to the Kinetic ABS Base Indenture. Pursuant to the Kinetic ABS Base Indenture and the related transaction documents, the Series 2026-1 Notes are guaranteed by each Kinetic ABS Asset Entity and the Kinetic ABS Issuer’s direct parent company (the “Holdco Guarantor”), and such guarantees and the Series 2026-1 Notes are secured by security interests in the equity interests in the Kinetic ABS Issuer and substantially all of the assets of the Kinetic ABS Issuer and the other Kinetic ABS Obligors, which assets are primarily the fiber network assets and related residential customer contracts in the States of Texas, Arkansas, Kentucky, Ohio and Georgia that have been sold or contributed to the Kinetic ABS Asset Entities by the non-securitization subsidiaries of the Company and the revenue collections and other proceeds thereof. Neither the Company nor any subsidiary of the Company, other than the Kinetic ABS Obligors and the Holdco Guarantor (all of which are unrestricted subsidiaries under the Company’s other debt agreements), will guarantee or in any way be liable for the obligations of the Kinetic ABS Obligors under the Kinetic ABS Base Indenture or the Series 2026-1 Notes, and neither the Holdco Guarantor, the Kinetic ABS Issuer nor any of the other Kinetic ABS Obligors shall guarantee or in any way be liable for the obligations of the Company or its subsidiaries under the Company’s other debt agreements. The Series 2026-1 Notes are subject to a series of customary covenants and restrictions. These covenants and restrictions include (i) that the Kinetic ABS Issuer maintains a liquidity reserve account to be used to make required payments in respect of the Series 2026-1 Notes, (ii) provisions relating to optional and mandatory prepayments, including specified make-whole payments in the case of certain optional prepayments of the Kinetic ABS Term Notes prior to the monthly payment date in February 2029, and (iii) covenants relating to recordkeeping, access to information and similar matters. As provided in the Kinetic ABS Base Indenture, the Kinetic ABS Term Notes and the Kinetic ABS Class A-1 Variable Funding Notes are also subject to rapid amortization in the event of a failure to maintain a stated debt service coverage ratio. A rapid amortization may be cured if the debt service coverage ratio exceeds a certain threshold for a certain period of time, upon which cure, regular amortization, if any, will resume. The Series 2026-1 Notes are also subject to certain customary events of default, including events relating to non-payment of required interest, principal or other amounts due on or with respect to the Series 2026-1 Notes, failure to comply with covenants within certain time frames, certain bankruptcy events, breaches of specified representations and warranties, failure of security interests to be effective and certain judgments. Senior Unsecured Notes - On February 4, 2026, Uniti Services, Uniti Group Finance, Uniti Fiber Holdings. and CSL Capital (together, the “2026 Unsecured Notes Issuers”), each a subsidiary of the Company, completed a private offering of $1.0 billion aggregate principal amount of 8.625% Senior Notes due 2032 (the “2026 Unsecured Notes”). Uniti Services used the net proceeds from the offering to repay borrowings under the Windstream Term Loan, including related fees and expenses in connection with the foregoing, and intends to use the remaining net proceeds for general corporate purposes, including the repayment of outstanding debt and/or success-based capital expenditures. Within 60 days of the issuance of the 2026 Unsecured Notes, Uniti Services will (or cause its applicable subsidiaries to) file to obtain regulatory approval to enable the regulated subsidiaries to guarantee the Notes, and it will use commercially reasonable efforts to obtain such approval. Upon the guarantee of the 2026 Unsecured Notes by each of the regulated subsidiaries that guarantee the existing 8.625% unsecured notes, the 2026 Unsecured Notes are expected to be mandatorily exchanged for 8.625% unsecured notes issued as “additional notes” under the indenture dated as of June 24, 2025 among the 2026 Unsecured Notes Issuers, the guarantors party thereto and the trustee party thereto (the “2025 Indenture”). Any such additional notes are expected to be part of the same series as the existing 8.625% unsecured notes issued under the 2025 Indenture and are expected to have the same CUSIP number as, and be fungible with, the existing 8.625% unsecured notes issued under the 2025 Indenture. The 2026 Unsecured Notes were issued at an issue price of 100.25% of their principal amount plus accrued interest from December 15, 2025 to, but excluding, February 4, 2026, pursuant to an Indenture, dated as of February 4, 2026 (the “2026 Indenture”), among the 2026 Unsecured Notes Issuers, the guarantors named therein (collectively, the “2026 Unsecured Notes Guarantors”) and Deutsche Bank Trust Company Americas, as trustee. The 2026 Unsecured Notes mature on June 15, 2032, and bear interest at a rate of 8.625% per year. Interest on the 2026 Unsecured Notes is payable on June 15 and December 15 of each year, beginning on June 15, 2026. The 2026 Unsecured Notes may be redeemed, in whole or in part, at any time prior to June 15, 2028 at a redemption price equal to 100% of the principal amount of the 2026 Unsecured Notes redeemed plus accrued and unpaid interest on the 2026 Unsecured Notes, if any, to, but not including, the redemption date, plus an applicable “make whole” premium described in the Indenture. Thereafter, the 2026 Unsecured Notes Issuers may redeem the 2026 Unsecured Notes in whole or in part, at the redemption prices set forth in the 2026 Indenture. In addition, at any time on or prior to June 15, 2028, up to 40% of the aggregate principal amount of the 2026 Unsecured Notes may be redeemed with the net cash proceeds of certain equity offerings at a redemption price of 108.625% of the principal amount plus accrued and unpaid interest, if any, to, but not including, the applicable redemption date; provided that at least 60% of aggregate principal amount of the originally issued 2026 Unsecured Notes remains outstanding. If certain changes of control of Uniti Services occur, holders of the 2026 Unsecured Notes will have the right to require the 2026 Unsecured Notes Issuers to offer to repurchase their 2026 Unsecured Notes at 101% of their principal amount plus accrued and unpaid interest, if any, to, but not including, the repurchase date. The 2026 Unsecured Notes are fully and unconditionally guaranteed, jointly and severally, on a senior unsecured basis by the Company, Uniti Group LLC, Uniti Services’ immediate parent, and by each of Uniti Services’ existing and future domestic restricted subsidiaries (other than the 2026 Unsecured Notes Issuers) that guarantees indebtedness under the Company’s senior secured credit facilities and existing secured notes (except initially certain regulated subsidiaries for which the Company will seek regulatory approval to enable them to guarantee the 2026 Unsecured Notes). The guarantees are subject to release under specified circumstances, including certain circumstances in which such guarantees may be automatically released without the consent of the holders of the 2026 Unsecured Notes. The 2026 Unsecured Notes and the related guarantees are the 2026 Unsecured Notes Issuers’ and the 2026 Unsecured Notes Guarantors’ senior unsecured obligations and rank equal in right of payment with all of the 2026 Unsecured Notes Issuers’ and the 2026 Unsecured Notes Guarantors’ existing and future senior unsecured indebtedness and senior in right of payment to any of the 2026 Unsecured Notes Issuers’ and the 2026 Unsecured Notes Guarantors’ subordinated indebtedness. The 2026 Unsecured Notes and the related guarantees are effectively subordinated to all of the 2026 Unsecured Notes Issuers’ and the 2026 Unsecured Notes Guarantors’ secured indebtedness (including the senior secured credit facilities and secured notes) to the extent of the value of the assets securing such indebtedness and are structurally subordinated to all existing and future liabilities (including trade payables) of the 2026 Unsecured Notes Issuers’ subsidiaries that do not guarantee the 2026 Unsecured Notes. The 2026 Indenture contains customary high yield covenants limiting the ability of Uniti Services and its restricted subsidiaries to: incur or guarantee additional indebtedness; incur or guarantee secured indebtedness; pay dividends or distributions on, or redeem or repurchase, capital stock; make certain investments or other restricted payments; sell assets; transfer material intellectual property to unrestricted subsidiaries; enter into transactions with affiliates; merge or consolidate or sell all or substantially all of their assets; and create restrictions on the ability of the 2026 Unsecured Notes Issuers and their restricted subsidiaries to pay dividends or other amounts to the 2026 Unsecured Notes Issuers. These covenants are subject to a number of important and significant limitations, qualifications and exceptions. The 2026 Indenture also contains customary events of default. Partial Termination of Interest Rate Swap Agreements – In conjunction with the above debt refinancing transactions, on January 28, 2026, the Company terminated a portion of each of the three interest rates swaps entered into on October 6, 2025, because the forecasted variable interest rate payments were no longer probable of occurring. For each affected interest rate swap, $250.0 million of the original $400.0 million notional value was terminated and accordingly, the remaining notional value for each of the three interest rate swaps was $150.0 million ($450.0 million in the aggregate). Upon termination, the Company received aggregate cash proceeds of $2.6 million from the respective bank counterparties.

Income Taxes - Schedule of Income Tax Expense Reconciliation Between U.S. Statutory Tax Rate and Effective Tax Rate (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Income before income taxes	$ 1,168.2	$ 75.9	$ (152.9)
Income (loss) before income taxes	1,168.2	75.9	(150.2)
Amount
Income tax (expense) benefit at U.S. statutory federal rate	$ (245.3)	(16.0)	31.6
Tax Jurisdiction of Domicile [Extensible Enumeration]	UNITED STATES
State taxes, net of federal benefit	$ 20.0	1.7	11.2
Settlement of pre-existing relationships	353.6
Other	(11.4)
Deferred tax impact of REIT liquidation	562.9
Other	(3.9)
Changes in valuation allowance	(542.4)
Foreign tax effects	0.0
Changes in unrecognized tax benefits	3.0
Benefit of REIT status		31.9	24.8
Return to accrual		0.1	1.3
Permanent differences		(0.2)	(0.4)
Total income tax benefit	$ 136.5	$ 17.5	$ 68.5
Percent
Income tax expense at U.S. statutory federal rate	(21.00%)
State and local income taxes, net of federal effect	1.70%
Settlement of pre-existing relationships	30.30%
Other	(1.00%)
Deferred tax impact of REIT liquidation	48.10%
Other	(0.30%)
Changes in valuation allowance	(46.40%)
Foreign tax effects	0.00%
Changes in unrecognized tax benefits	0.30%
Total income tax benefit	11.70%

Cybersecurity Risk Management and Strategy Disclosure	12 Months Ended
Cybersecurity Risk Management and Strategy Disclosure	Dec. 31, 2025
Cybersecurity Risk Management, Strategy, and Governance [Line Items]
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]	Risk Management and Strategy The Company has established an information security program to assess, identify and manage material risks from cybersecurity threats, which is an integral part of the Company's overall enterprise risk management program. This program is established at the executive level, with regular reporting to, and oversight by, the Board of Directors as described below. As part of the Company’s information security program, the Company maintains written policies and procedures, such as the Information Security Policy and the Company’s Incident Response Plan, which identify how cybersecurity measures and controls are developed, implemented, and regularly reviewed and updated. The Company’s Information Security Policy identifies security controls, appropriate use, and user responsibilities for the organization that are in place to identify and manage the risk of a cybersecurity incident. The Company has implemented a set of controls to manage information risk, utilizing controls from multiple security frameworks, specifically ISO 27001, and the Payment Card Industry (“PCI”) Data Security Standard. The Company also conducts various internal and external information risk assessments each year, which are based on nationally accepted standards, including annual compliance required assessments, such as PCI and Sarbanes-Oxley Act of 2002 (“SOX”) audits, as well as ad-hoc assessments driven by emerging risks, changes in the Company’s environment, or benchmark/roadmap needs. Risks identified in such assessments are considered for inclusion in the Company’s risk portfolio and are then prioritized and addressed as needed through the Company’s broader information security programs and policies. The risk assessment along with risk-based analysis and judgment are used to select security controls to address risks. During this process, the following factors, among others, are considered: likelihood and severity of risk, impact on the Company and others if a risk materializes, feasibility and cost of controls, and impact of controls on operations and others. Specific controls that are used to some extent include endpoint threat detection and response, identity and access management, privileged access management, logging and monitoring involving the use of security information and event management, multi-factor authentication, firewalls and intrusion detection and prevention, encryption, and vulnerability and patch management. Although the risks from cyber threats have not materially affected our business strategy, results of operations, or financial condition to date, we continue to closely monitor cyber risk. To protect its information and cyber assets, the Company conducts appropriate cybersecurity exercises and training. For example, employees must complete cybersecurity training at least annually, which educates our employees on the Company’s policies and procedures for incident reporting, and avoiding common cybersecurity threats such as phishing attacks. Additionally, the Company leverages third-party security firms in different capacities to implement or operate various aspects of the Company’s information security program, including to conduct risk assessments, vulnerability scans, and penetration testing based on nationally accepted standards. The Company uses a variety of processes to address cybersecurity threats related to the use of third-party technology and services, such as requiring an independent assessment of the third party’s information security controls where appropriate. As part of the Company’s process to continuously improve its information security programs, the Company also engages third-party subject matter experts to assess and evaluate the effectiveness of various aspects of the Company’s information security program. The Company (or the third parties on which it relies) may not be able to fully, continuously, and effectively implement security controls as intended. We utilize a risk-based approach and judgment to determine the security controls to implement, and it is possible we may not implement appropriate controls if we do not recognize or underestimate a particular risk. In addition, security controls, no matter how well designed or implemented, may only mitigate and not fully eliminate risks and events, when detected by security tools or third parties, may not always be immediately understood or acted upon.
Cybersecurity Risk Management Processes Integrated [Flag]	true
Cybersecurity Risk Management Processes Integrated [Text Block]	The Company has established an information security program to assess, identify and manage material risks from cybersecurity threats, which is an integral part of the Company's overall enterprise risk management program.
Cybersecurity Risk Management Third Party Engaged [Flag]	true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag]	true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag]	false
Cybersecurity Risk Board of Directors Oversight [Text Block]	Ultimate responsibility for risk oversight and management generally lies with the Board. To effectively manage oversight of our cybersecurity risk management practices, the Board has delegated such responsibility to the Company’s Audit Committee. The Company’s Chief Information Officer (“CIO”) and the Company's Chief Information Security Officer ("CISO") provide reports to either the Audit Committee or the full Board on a quarterly basis on various matters, including current and emerging cybersecurity risks to the Company, internal and external assessments of the Company’s information security program, and a roadmap of projects to manage its information security posture. In the event of any significant cybersecurity incidents, the Company’s Incident Response Plan outlines the process to escalate communications to the Audit Committee and/or the full Board between the quarterly updates on an ad hoc basis.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block]	Ultimate responsibility for risk oversight and management generally lies with the Board. To effectively manage oversight of our cybersecurity risk management practices, the Board has delegated such responsibility to the Company’s Audit Committee.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block]	The Company’s Chief Information Officer (“CIO”) and the Company's Chief Information Security Officer ("CISO") provide reports to either the Audit Committee or the full Board on a quarterly basis on various matters, including current and emerging cybersecurity risks to the Company, internal and external assessments of the Company’s information security program, and a roadmap of projects to manage its information security posture.
Cybersecurity Risk Role of Management [Text Block]	Ultimate responsibility for risk oversight and management generally lies with the Board. To effectively manage oversight of our cybersecurity risk management practices, the Board has delegated such responsibility to the Company’s Audit Committee. The Company’s Chief Information Officer (“CIO”) and the Company's Chief Information Security Officer ("CISO") provide reports to either the Audit Committee or the full Board on a quarterly basis on various matters, including current and emerging cybersecurity risks to the Company, internal and external assessments of the Company’s information security program, and a roadmap of projects to manage its information security posture. In the event of any significant cybersecurity incidents, the Company’s Incident Response Plan outlines the process to escalate communications to the Audit Committee and/or the full Board between the quarterly updates on an ad hoc basis. At the executive and management level, the CIO has primary responsibility for the development, operation, and maintenance of the Company’s information security program. Our CIO has 20 years of experience in technology risk management, 12 of which have been with the Company (or its predecessors and affiliates). In addition to the CIO, the Company’s CISO under the direction of the CIO, implements and provides governance and functional oversight for cybersecurity controls and services. Information security processes include escalation of certain risks and incidents to the CIO and the executive team and quarterly dashboards also used to update the risk landscape. Overall, the Company has implemented tactical processes for assessing, identifying, and managing material risks from cybersecurity threats to the Company including governance at the Board level and accountability in our executive management for the execution of the Company’s cyber risk management strategy and the controls designed to protect its operations. In addition, we maintain cyber insurance that is designed to protect us against certain losses related to cyber risks, and we believe the amount and scope of this insurance are customary for similarly situated companies in the telecommunications industry. See Item 1A. "Risk Factors" for additional information regarding the Company’s cybersecurity risks. Those sections of Item 1A should be read in conjunction with this Item 1C.
Cybersecurity Risk Management Positions or Committees Responsible [Flag]	true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block]	At the executive and management level, the CIO has primary responsibility for the development, operation, and maintenance of the Company’s information security program.
Cybersecurity Risk Management Expertise of Management Responsible [Text Block]	CIO has 20 years of experience in technology risk management, 12 of which have been with the Company (or its predecessors and affiliates).
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block]	The Company’s Chief Information Officer (“CIO”) and the Company's Chief Information Security Officer ("CISO") provide reports to either the Audit Committee or the full Board on a quarterly basis on various matters, including current and emerging cybersecurity risks to the Company, internal and external assessments of the Company’s information security program, and a roadmap of projects to manage its information security posture. In the event of any significant cybersecurity incidents, the Company’s Incident Response Plan outlines the process to escalate communications to the Audit Committee and/or the full Board between the quarterly updates on an ad hoc basis.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag]	true

Leases - Schedule of Underlying Assets under Operating Leases (Details) $ in Millions	Dec. 31, 2024 USD ($)
Lessor Lease Description [Line Items]
Property, plant, and equipment, lessor asset under operating lease, before accumulated depreciation	$ 9,017.8
Less accumulated depreciation	(5,852.6)
Underlying assets under operating leases, net	3,165.2
Land
Lessor Lease Description [Line Items]
Property, plant, and equipment, lessor asset under operating lease, before accumulated depreciation	26.7
Building and improvements
Lessor Lease Description [Line Items]
Property, plant, and equipment, lessor asset under operating lease, before accumulated depreciation	350.8
Poles
Lessor Lease Description [Line Items]
Property, plant, and equipment, lessor asset under operating lease, before accumulated depreciation	341.6
Fiber
Lessor Lease Description [Line Items]
Property, plant, and equipment, lessor asset under operating lease, before accumulated depreciation	4,325.5
Copper
Lessor Lease Description [Line Items]
Property, plant, and equipment, lessor asset under operating lease, before accumulated depreciation	3,972.8
Equipment
Lessor Lease Description [Line Items]
Property, plant, and equipment, lessor asset under operating lease, before accumulated depreciation	$ 0.4

Notes and Other Debt, Net - 7.50% Convertible Senior Notes due 2027 (Details) $ / shares in Units, $ in Millions	Dec. 08, 2025	Dec. 12, 2022 USD ($) $ / shares	Dec. 31, 2025 USD ($)	Dec. 31, 2024 USD ($)
Debt Instrument [Line Items]
Notes and other debt, net			$ 9,540.5	$ 5,861.5
Exchangeable Notes
Debt Instrument [Line Items]
Notes and other debt, net		$ 300.0
Gain on extinguishment of debt, before write off of debt issuance cost		$ 6.5
7.50% Convertible Senior Notes 2027
Debt Instrument [Line Items]
Issuance senior notes, stated percentage			7.50%
Convertible Senior Notes 2027 \| Convertible Debt
Debt Instrument [Line Items]
Conversion ratio		0.0827023
Debt instrument, indenture exchange price per share (in dollars per share) \| $ / shares		$ 12.09
Redemption percentage	130.00%	100.00%

Accumulated Other Comprehensive Loss - Schedule of Changes in Accumulated Other Comprehensive Loss by Component (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	$ (2,451.9)	$ (2,484.1)	$ (2,271.2)
Ending balance	380.4	(2,451.9)	(2,484.1)
Accumulated Other Comprehensive Loss
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(0.6)	0.0	0.0
Ending balance	(1.9)	(0.6)	0.0
Accumulated Other Comprehensive Loss \| Cash flow hedges:
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(0.6)	0.0	(30.4)
Ending balance	(1.9)	(0.6)	0.0
Accumulated Other Comprehensive Loss \| Interest rate swap termination:
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	0.0	0.0	30.4
Ending balance	0.0	0.0	0.0
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent \| Interest rate cap:
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Change in fair value of interest rate cap/ swaps, net of tax	(0.1)	(0.6)	0.0
Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent \| Interest rate swap:
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Change in fair value of interest rate cap/ swaps, net of tax	(0.2)	0.0	0.0
Amounts reclassified from accumulated other comprehensive loss, net of tax	(1.0)	0.0	30.4
Accumulated Gain (Loss), Interest Rate Swap Termination, Parent \| Interest rate swap:
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Amounts reclassified from accumulated other comprehensive loss, net of tax	$ 0.0	$ 0.0	$ (30.4)

Segments - Schedule of Segment Reporting Information (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Segment Reporting Information [Line Items]
Total revenues and sales			$ 2,234.5	$ 1,166.9	$ 1,149.8
Intersegment costs and expenses			(1,972.5)	(579.9)	(771.9)
Intersegment Eliminations
Segment Reporting Information [Line Items]
Total revenues and sales			80.1	0.0	0.0
Operating Segments
Segment Reporting Information [Line Items]
Total revenues and sales			2,314.6	1,166.9	1,149.8
Intersegment costs and expenses			(80.1)	0.0	0.0
Contribution margin			1,343.8	999.3	979.4
Total segment expenses			(890.7)	(167.6)	(170.4)
Kinetic
Segment Reporting Information [Line Items]
Total revenues and sales			909.0	0.0	0.0
Kinetic \| Intersegment Eliminations
Segment Reporting Information [Line Items]
Total revenues and sales			19.4	0.0	0.0
Kinetic \| Operating Segments
Segment Reporting Information [Line Items]
Total revenues and sales			928.4	0.0	0.0
Compensation expenses			(160.4)	0.0	0.0
Non-compensation managed expenses			(104.9)	0.0	0.0
Revenue-driven costs			(84.2)	0.0	0.0
Network access and facilities			(84.1)	0.0	0.0
Allocated network operations expenses			(20.4)	0.0	0.0
Customer access			(9.7)	0.0	0.0
Intersegment costs and expenses			(57.1)	0.0	0.0
Contribution margin			407.6	0.0	0.0
Uniti Solutions
Segment Reporting Information [Line Items]
Total revenues and sales	$ 330.1	$ 0.0	330.1	0.0	0.0
Uniti Solutions \| Intersegment Eliminations
Segment Reporting Information [Line Items]
Total revenues and sales	2.2	0.0			0.0
Uniti Solutions \| Operating Segments
Segment Reporting Information [Line Items]
Total revenues and sales	332.3	0.0			0.0
Compensation expenses	(25.0)	0.0			0.0
Non-compensation managed expenses	(2.4)	0.0			0.0
Revenue-driven costs	(49.5)	0.0			0.0
Customer access	(71.8)	0.0			0.0
Intersegment costs and expenses	(19.5)	0.0			0.0
Contribution margin	164.1	0.0			0.0
Fiber Infrastructure
Segment Reporting Information [Line Items]
Total revenues and sales			995.4	1,166.9	1,149.8
Fiber Infrastructure \| Intersegment Eliminations
Segment Reporting Information [Line Items]
Total revenues and sales			58.5	0.0	0.0
Fiber Infrastructure \| Operating Segments
Segment Reporting Information [Line Items]
Total revenues and sales			1,053.9	1,166.9	1,149.8
Compensation expenses			(63.9)	(45.7)	(43.7)
Non-compensation managed expenses			(16.1)	(12.7)	(16.8)
Revenue-driven costs			(33.0)	(17.8)	(16.4)
Network access and facilities			(156.2)	(91.4)	(93.5)
Allocated network operations expenses			(4.4)	0.0	0.0
Customer access			(4.7)	0.0	0.0
Intersegment costs and expenses			(3.5)	0.0	0.0
Contribution margin			772.1	999.3	979.4
Service revenues
Segment Reporting Information [Line Items]
Total revenues and sales			2,171.7	1,148.8	1,133.0
Service revenues \| Kinetic
Segment Reporting Information [Line Items]
Total revenues and sales			874.3	0.0	0.0
Service revenues \| Uniti Solutions
Segment Reporting Information [Line Items]
Total revenues and sales	329.5	0.0			0.0
Service revenues \| Fiber Infrastructure
Segment Reporting Information [Line Items]
Total revenues and sales			967.9	1,148.8	1,133.0
Sales revenues
Segment Reporting Information [Line Items]
Total revenues and sales			62.8	18.1	16.8
Sales revenues \| Kinetic
Segment Reporting Information [Line Items]
Total revenues and sales			34.7	0.0	0.0
Sales revenues \| Uniti Solutions
Segment Reporting Information [Line Items]
Total revenues and sales	$ 0.6	$ 0.0			0.0
Sales revenues \| Fiber Infrastructure
Segment Reporting Information [Line Items]
Total revenues and sales			$ 27.5	$ 18.1	$ 16.8

Consolidated Balance Sheets - USD ($) $ in Millions	Dec. 31, 2025	Dec. 31, 2024
Current assets:
Cash and cash equivalents	$ 53.5	$ 155.6
Restricted cash	80.6	28.2
Accounts receivable, net	359.0	51.5
Inventories	44.0	0.0
Prepaid expenses	137.6	16.2
Other current assets	156.3	18.1
Total current assets	831.0	269.6
Goodwill	1,158.3	157.4
Intangible assets, net	1,293.3	275.4
Property, plant and equipment, net	8,141.9	4,209.7
Operating lease right-of-use assets, net	516.6	126.8
Deferred income tax assets, net	0.0	128.0
Other assets	95.6	115.2
Total assets	12,036.7	5,282.1
Liabilities [Abstract]
Current portion of notes and other debt	10.0	0.0
Accounts payable	171.5	13.6
Deferred revenue	239.8	84.5
Current portion of operating lease obligations	122.6	12.7
Accrued taxes	51.8	7.1
Accrued interest	138.8	143.9
Other current liabilities	389.4	118.9
Total current liabilities	1,123.9	380.7
Notes and other debt, net	9,529.4	5,783.6
Noncurrent operating lease obligations	360.5	67.8
Noncurrent deferred revenue	368.7	1,316.5
Deferred income tax liabilities, net	17.7	0.0
Other liabilities	256.1	185.4
Total liabilities	11,656.3	7,734.0
Commitments and contingencies (Note 19)
Shareholders' equity (deficit):
Common stock, $0.0001 par value, 5,550.0 million shares authorized, 239.0 million shares issued and outstanding at December 31, 2025 and 500.0 million shares authorized, 143.2 million shares issued and outstanding at December 31, 2024	0.0	0.0
Additional paid-in capital	2,790.1	1,236.0
Accumulated other comprehensive loss	(1.9)	(0.6)
Distributions in excess of accumulated earnings	(2,407.9)	(3,687.8)
Total Uniti shareholders' equity (deficit)	380.3	(2,452.4)
Noncontrolling interests	0.1	0.5
Total shareholders' equity (deficit)	380.4	(2,451.9)
Total liabilities and shareholders' equity	12,036.7	5,282.1
New Uniti Preferred Stock
Shareholders' equity (deficit):
Preferred stock issued	0.0	0.0
Old Uniti Preferred Stock
Shareholders' equity (deficit):
Preferred stock issued	$ 0.0	$ 0.0

Supplementary Unrestricted Subsidiary Information (Unaudited)

12 Months Ended

Dec. 31, 2025

Condensed Financial Information Disclosure [Abstract]

Supplementary Unrestricted Subsidiary Information (Unaudited)

Supplementary Unrestricted Subsidiary Information (Unaudited):

During 2024, we formed the Uniti Fiber ABS Parent LLC (“ABS Parent”) and the ABS Bridge Loan Parties, each an indirect, bankruptcy-remote subsidiary of the Company, and we designated ABS Parent and the ABS Bridge Loan Parties as unrestricted subsidiaries under the Credit Agreement and the applicable indentures governing the Company’s outstanding senior notes. During 2025, we formed the ABS Notes Obligors (other than Uniti Fiber GulfCo LLC, which was formed in 2024), each a subsidiary of ABS Parent and an indirect, bankruptcy-remote subsidiary of the Company. Each ABS Notes Obligor is an unrestricted subsidiary under the Credit Agreement and the applicable indentures governing the Company’s senior notes. See Note 7.


	As of December 31, 2025
(Millions)	Unrestricted Subsidiaries		Restricted Subsidiaries		Eliminations		Consolidated
Assets:
Current assets:
Cash and cash equivalents	$	5.4	$	48.1	$	—	$	53.5
Restricted cash	75.2		5.4		—		80.6
Accounts receivable, net	18.0		394.6		(53.6)		359.0
Inventories	—		44.0		—		44.0
Prepaid expenses	—		137.6		—		137.6
Other current assets	—		156.3		—		156.3
Total current assets	98.6		786.0		(53.6)		831.0
Goodwill	—		1,158.3		—		1,158.3
Intangible assets, net	—		1,293.3		—		1,293.3
Property, plant and equipment, net	614.4		7,527.5		—		8,141.9
Operating lease right-of-use assets, net	—		516.6		—		516.6
Other assets	23.4		103.2		(31.0)		95.6
Total assets	$	736.4	$	11,384.9	$	(84.6)	$	12,036.7
Liabilities and shareholders' equity (deficit):
Current liabilities:
Current portion of long-term debt	$	—	$	10.0	$	—	$	10.0
Accounts payable	47.7		177.4		(53.6)		171.5
Deferred revenue	7.4		233.5		(1.1)		239.8
Current portion of operating lease obligations	—		122.6		—		122.6
Accrued taxes	0.5		51.3		—		51.8
Accrued interest	10.3		128.5		—		138.8
Other current liabilities	—		389.4		—		389.4
Total current liabilities	65.9		1,112.7		(54.7)		1,123.9
Notes and other debt, net	822.1		8,728.6		(21.3)		9,529.4
Noncurrent operating lease obligations	—		360.5		—		360.5
Noncurrent deferred revenue	62.5		314.8		(8.6)		368.7
Deferred income tax assets, net	—		17.7		—		17.7
Other liabilities	—		256.1		—		256.1
Total liabilities	950.5		10,790.4		(84.6)		11,656.3
Shareholders' (deficit) equity:
Total shareholders' (deficit) equity	(214.1)		594.5		—		380.4
Total liabilities and shareholders' equity (deficit)	$	736.4	$	11,384.9	$	(84.6)	$	12,036.7


	As of December 31, 2024
(Millions)	Unrestricted Subsidiaries		Restricted Subsidiaries		Eliminations		Consolidated
Assets:
Current assets:
Cash and cash equivalents	$	1.7	$	153.9	$	—	$	155.6
Restricted cash	28.1		0.1		—		28.2
Accounts receivable, net	9.0		46.4		(3.9)		51.5
Prepaid expenses	—		16.2		—		16.2
Other current assets	0.1		18.0		—		18.1
Total current assets	38.9		234.6		(3.9)		269.6
Goodwill	—		157.4		—		157.4
Intangible assets, net	—		275.4		—		275.4
Property, plant and equipment, net	446.5		3,763.2		—		4,209.7
Operating lease right-of-use assets, net	—		126.8		—		126.8
Deferred income tax assets, net	—		128.0		—		128.0
Other assets	0.8		284.9		(170.5)		115.2
Total assets	$	486.2	$	4,970.3	$	(174.4)	$	5,282.1
Liabilities and shareholders' equity (deficit):
Current liabilities:
Accounts payable	$	3.2	$	14.3	$	(3.9)	$	13.6
Deferred revenue	4.6		79.9		—		84.5
Current portion of operating lease obligations	—		12.7		—		12.7
Accrued taxes	0.2		6.9		—		7.1
Accrued interest	0.9		143.0		—		143.9
Other current liabilities	—		118.9		—		118.9
Total current liabilities	8.9		375.7		(3.9)		380.7
Notes and other debt, net	271.3		5,512.3		—		5,783.6
Noncurrent operating lease obligations	—		67.8		—		67.8
Noncurrent deferred revenue	38.8		1,277.7		—		1,316.5
Other liabilities	—		185.4		—		185.4
Total liabilities	319.0		7,418.9		(3.9)		7,734.0
Shareholders' equity (deficit):
Total shareholders' equity (deficit)	167.2		(2,448.6)		(170.5)		(2,451.9)
Total liabilities and shareholders' equity (deficit)	$	486.2	$	4,970.3	$	(174.4)	$	5,282.1


	For the Year Ended December 31, 2025
(Millions)	Unrestricted Subsidiaries		Restricted Subsidiaries		Eliminations		Consolidated
Total revenues and sales	$	152.0	$	2,152.6	$	(70.1)	$	2,234.5
Costs and expenses:
Cost of services (exclusive of depreciation and amortization)	53.0		687.5		(53.9)		686.6
Cost of sales (exclusive of depreciation and amortization)	—		56.0		—		56.0
Selling, general and administrative	18.1		349.6		(16.2)		351.5
Depreciation and amortization	25.4		641.2		—		666.6
Gain on sale of operating assets	—		—		—		—
Transaction related and other costs	—		211.8		—		211.8
Total costs and expenses	96.5		1,946.1		(70.1)		1,972.5
Operating income	55.5		206.5		—		262.0
Other expense, net	—		8.1		—		8.1
Loss on extinguishment of debt	—		(183.0)		—		(183.0)
Gain on settlement of preexisting relationships	0.2		1,683.7		—		1,683.9
Interest expense, net	(41.7)		(561.1)		—		(602.8)
Income before income taxes	14.0		1,154.2		—		1,168.2
Income tax benefit	—		136.5		—		136.5
Net income	$	14.0	$	1,290.7	$	—	$	1,304.7


	For the Year Ended December 31, 2024
(Millions)	Unrestricted Subsidiaries		Restricted Subsidiaries		Eliminations		Consolidated
Total revenues and sales	$	71.5	$	1,109.6	$	(14.2)	$	1,166.9
Costs and expenses:
Cost of services (exclusive of depreciation and amortization)	—		128.6		—		128.6
Cost of sales (exclusive of depreciation and amortization)	—		11.7		—		11.7
Selling, general and administrative	32.9		86.3		(14.2)		105.0
Depreciation and amortization	17.3		297.6		—		314.9
Gain on sale of operating assets	—		(19.0)		—		(19.0)
Transaction related and other costs	—		38.7		—		38.7
Total costs and expenses	50.2		543.9		(14.2)		579.9
Operating income	21.3		565.7		—		587.0
Other income, net	—		0.3		—		0.3
Loss on extinguishment of debt	—		—		—		—
Interest expense, net	(24.1)		(487.3)		—		(511.4)
(Loss) income before income taxes	(2.8)		78.7		—		75.9
Income tax benefit	—		17.5		—		17.5
Net (loss) income	$	(2.8)	$	96.2	$	—	$	93.4

Schedule I – Condensed Financial Information of

The Registrant (Parent Company)

Condensed Balance Sheets


(Millions, except par value)	December 31, 2025		December 31, 2024
Assets:
Current assets:
Cash and cash equivalents	$	—	$	0.9
Total current assets	—		0.9
Investment in consolidated subsidiaries	393.6		—
Total assets	$	393.6	$	0.9
Liabilities:
Current liabilities:
Accrued taxes	$	6.2	$	6.5
Other current liabilities	3.7		0.7
Total current liabilities	9.9		7.2
Notes and other debt, net	—		300.2
Deferred tax liability, net	3.4		—
Cash distributions and losses in excess of investments in consolidated subsidiaries	—		2,145.9
Total liabilities	13.3		2,453.3
Shareholders' equity (deficit):
Preferred stock, $0.0001 par value, 0.6 million shares issued and outstanding at December 31, 2025	—		—
Old Uniti Preferred stock, $0.0001 par value, 50.0 million shares authorized, no shares issued and outstanding at December 31, 2024	—		—
Common stock, $0.0001 par value, 5,550.0 million shares authorized, 234.0 million shares issued and outstanding at December 31, 2025 and 500.0 million shares authorized, 143.2 million shares issued and outstanding at December 31, 2024	—		—
Additional paid-in capital	2,790.1		1,236.0
Accumulated other comprehensive loss	(1.9)		(0.6)
Distributions in excess of accumulated earnings	(2,407.9)		(3,687.8)
Total Uniti shareholders' equity (deficit)	380.3		(2,452.4)
Total liabilities and shareholders' equity	$	393.6	$	0.9

See notes to Consolidated Financial Statements of Uniti Group Inc. included in Financial Statements and Supplementary Data.

Schedule I – Condensed Financial Information of

The Registrant (Parent Company)

Condensed Statements of Comprehensive Income (Loss)


	Year Ended December 31,
(Millions)	2025		2024		2023
Costs and Expenses:
General and administrative expenses	$	—	$	0.1	$	0.1
Total costs and expenses	—		0.1		0.1
Operating loss	—		(0.1)		(0.1)
Other expense, net	(0.1)		—		—
Gain on settlement of preexisting relationships	499.1		—		—
Earnings (loss) from consolidated subsidiaries	543.1		118.5		(57.8)
Interest expense	(14.5)		(24.8)		(24.6)
Income (loss) before income taxes	1,027.6		93.6		(82.5)
Income tax benefit (expense)	277.1		(0.2)		0.8
Net income (loss) attributable to shareholders	1,304.7		93.4		(81.7)
Comprehensive income (loss) attributable to shareholders	$	1,303.4	$	92.8	$	(81.7)

See notes to Consolidated Financial Statements of Uniti Group Inc. included in Financial Statements and Supplementary Data.

Schedule I – Condensed Financial Information of

The Registrant (Parent Company)

Condensed Statements of Cash Flows


	Year Ended December 31,
(Millions)	2025		2024		2023
Cash flow from operating activities:
Net cash (used in) provided from operating activities	$	(0.5)	$	108.3	$	104.6
Cash flow from investing activities
Merger cash consideration paid	(370.7)		—		—
Net cash used in investing activities	(370.7)		—		—
Cash flow from financing activities
Dividends paid	—		(108.5)		(107.4)
Intercompany transactions, net	372.0		1.4		1.4
Other	(1.7)		(0.9)		(0.7)
Net cash provided from (used in) financing activities	370.3		(108.0)		(106.7)
Net (decrease) increase in cash and cash equivalents	(0.9)		0.3		(2.1)
Cash and cash equivalents at beginning of period	0.9		0.6		2.7
Cash and cash equivalents at end of period	$	—	$	0.9	$	0.6

See notes to Consolidated Financial Statements of Uniti Group Inc. included in Financial Statements and Supplementary Data.

Note 1. Background and Basis of Presentation

Uniti Group Inc.’s ("Uniti" or "the Company") parent company financial information should be read in conjunction with the annual consolidated financial statements and notes of Uniti and its subsidiaries included in Item 8. "Financial Statements and Supplementary Data" in this Annual Report on Form 10-K. The Company was incorporated in the State of Delaware on April 19, 2024, under the name “Windstream Parent, Inc.” and as a subsidiary of New Windstream, LLC (“Windstream”) (as successor to Windstream Holdings II, LLC) in connection with the Merger (as defined in Note 2 below).

Prior to the Merger, Uniti Group LLC (f/k/a Uniti Group Inc.) (“Old Uniti”) was an independent internally managed real estate investment trust (“REIT”) engaged in the acquisition, construction and leasing of mission critical infrastructure in the communications industry. Old Uniti operated through a customary “up-REIT” structure, pursuant to which it held substantially all of its assets through a partnership, Uniti Group LP, a Delaware limited partnership (the “Operating Partnership”) that Old Uniti controlled as general partner. The up-REIT structure was intended to facilitate future acquisition opportunities by providing Old Uniti with the ability to use common units of the Operating Partnership as a tax-efficient acquisition currency. As of August 1, 2025, Old Uniti was the sole general partner of the Operating Partnership and owned 100.0% of the partnership interests in the Operating Partnership.

Similar to Old Uniti, the Company has no material assets or operations other than its 100.0% ownership in its consolidated subsidiaries. Following the Merger, the Company has no debt obligations. For periods prior to the Merger, notes and other debt, net consisted of the 7.50% convertible notes due on December 1, 2027, for which Old Uniti was the primary obligor. Interest expense associated with the convertible debt has been presented in the condensed statements of comprehensive income (loss) for the periods January 1, 2025 to July 31, 2025 and for the years ended December 31, 2024 and 2023. Upon conversion, the issuance of common stock will be reflected in the equity of the Company.

The Merger was accounted for as a reverse merger using the acquisition method of accounting, with Windstream treated as the legal acquirer and Old Uniti treated as the accounting acquirer. Because Old Uniti was treated as the accounting acquirer, financial information for periods prior to the Merger reflect the historical activity of Old Uniti.

For periods prior to the Merger, as a REIT, Old Uniti presented an unclassified balance sheet, and following the Merger, the Company has presented a classified balance sheet. Accordingly, the consolidated balance sheet as of December 31, 2024 has been reclassified to present current assets and current liabilities separate and apart from noncurrent assets and liabilities; These reclassifications had no effect on previously reported total assets, total liabilities and total shareholders’ deficit as of December 31, 2024.

Note 2. Completion of Merger with Windstream

On August 1, 2025, pursuant to the previously announced Agreement and Plan of Merger, dated as of May 3, 2024 (as amended) (the “Merger Agreement”), by and between Old Uniti, Windstream, the Company, New Uniti HoldCo LP and New Windstream Merger Sub, LLC, an indirect wholly owned subsidiary of Windstream (“Merger Sub”), Old Uniti and Windstream completed the following transactions: (a) Windstream merged with and into the Company (at such time, a direct wholly owned subsidiary of Windstream named Windstream Parent, Inc.), with the Company surviving the merger as the ultimate parent company of the combined company (the “Internal Reorg Merger”), and (b) Merger Sub merged with and into Old Uniti (the “Merger”), with Old Uniti surviving the Merger as an indirect wholly owned subsidiary of the Company. Following the consummation of the Merger, the Company was renamed Uniti Group Inc. and Old Uniti ceased to be a REIT, and the Company does not qualify to be a REIT.

Subject to the terms and conditions set forth in the Merger Agreement, at the effective time of the Merger, each share of Old Uniti’s common stock, par value $0.0001 per share that was issued and outstanding was automatically cancelled and retired and converted into the right to receive 0.6029 shares of Common Stock par value $0.0001 per share, pursuant to the exchange ratio set forth in the Merger Agreement with cash issued in lieu of fractional shares.

In connection with the Internal Reorg Merger, prior to the effective time of the Merger, Windstream’s equityholders received (i) approximately 90.1 million shares of Common Stock representing approximately 35.42% of the outstanding shares of Common Stock, (ii) approximately 0.6 million shares of non-voting preferred stock of the Company (“Preferred Stock”) with a dividend rate of 11% per year for the first six years, subject to an additional 0.5% per year during each of the seventh and eighth year after the initial issuance and further increased by an additional 1% per year during each subsequent year, subject to a cap of 16% per year and with an aggregate liquidation preference of $575.0 million and (iii) approximately 17.6 million warrants to purchase Common Stock, with an exercise price of $0.01 per share (“Warrants”), representing approximately 6.9% of the outstanding Common Stock immediately following the closing of the Merger on a fully diluted basis after giving effect to such warrants. Windstream’s equityholders also received approximately $370.7 million in cash (net of certain transaction-related expenses) on a pro-rata basis (the “Merger Cash Consideration”).

Note 3. Settlement of Preexisting Relationships

Prior to completion of the Merger, Old Uniti and Windstream had several preexisting relationships primarily comprised of (i) two structurally similar long-term exclusive triple-net lease agreements (collectively, the “Windstream Leases”),(ii) an asset purchase agreement, pursuant to which Old Uniti paid Windstream in exchange for exclusive rights to use certain fiber strand miles leased by Windstream, certain fiber assets (and underlying rights) owned by Windstream, dark fiber IRU arrangements relating to the fiber strand miles and fiber assets, and a 20-year IRU for certain strands included in the transferred fiber assets that Uniti granted to Windstream (the “Asset Purchase Agreement”), and (iii) various other leasing and supplier arrangements between Old Uniti and Windstream.

Upon consummation of the Merger, all historical preexisting relationships between Old Uniti and Windstream were considered effectively settled for accounting purposes and the related transactions and balances became intercompany transactions eliminated in the preparation of the Company’s post-Merger consolidated financial statements. To the extent the settled preexisting contractual arrangement was deemed favorable or unfavorable from the perspective of Old Uniti, the fair value of the off-market component was included in total merger consideration. As of the Merger date, the Windstream Leases were deemed to be above market from the perspective of Old Uniti and the fair value of the off-market component was estimated to be $559.0 million based on the remaining contractual lease payments and current market rates. Conversely, the Asset Purchase Agreement was deemed to be unfavorable from the perspective of Old Uniti and the fair value of the off-market component was estimated to be $(60.0) million based on the estimated remaining value of the upfront payment of the IRU contract. The other leasing and supplier agreements were determined to be at market, and therefore, were effectively settled at the historical carrying value, which had a $0.1 million impact on total merger consideration.

In connection with the settlement of the preexisting relationships, the Company recognized a pretax nonrecurring gain of $499.1 million equal to the portion of the total merger consideration assigned to the settlement of preexisting relationships discussed above.

Note 4. Dividends

No cash dividends were received from subsidiaries during the year ended December 31, 2025. Cash dividends received from subsidiaries and recorded in cash flow from operating activities in the condensed statement of cash flows were $106.7 million and $106.4 million for the years ended December 31, 2024 and 2023, respectively.

Notes and Other Debt, Net - Deferred Financing Costs (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Debt Disclosure [Abstract]
amortization of debt issuance costs	$ 21.8	$ 23.8	$ 18.1

Derivatives

12 Months Ended

Dec. 31, 2025

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivatives

Derivatives:

As a result of the Merger, the Company assumed two pay fixed, receive variable interest rate swap agreements with the same bank counterparty that had been entered into by Windstream Services to mitigate its exposure to the variability in cash flows on a portion of its floating-rate debt, consisting of the $500.0 million Windstream Term Loan and any borrowings under the Windstream Revolver.

The first swap has a notional value of $200.0 million and matures on October 31, 2029. The fixed rate paid is 4.1730% and the variable rate received is the one-month U.S. Dollar Secured Overnight Financing Rate fallback rate (“USD-SOFR”) (not subject to a floor). The variable rate received resets on the first day of the floating rate calculation period specified in the interest rate swap agreement. The Company designated this swap as a cash flow hedge of the interest rate risk inherent in floating-rate borrowings due to changes in the benchmark interest rate. The second swap had a notional value of $300.0 million and matured on October 31, 2025. Due to its short remaining maturity, this swap did not qualify for hedge accounting as of the Merger date. On August 22, 2025, the Company terminated this swap and received cash proceeds of $2.4 million.

On March 1, 2024, Old Uniti had entered into an interest rate cap related to the ABS Loan Facility, which was designated as a cash flow hedge, with a notional value of $275.0 million, and effectively capped the one-month term USD-SOFR at 4.50%. The interest rate cap expired during the third quarter of 2025.

In conjunction with the fourth quarter 2025 debt refinancing, on October 6, 2025, the Company entered into three new pay fixed, receive variable interest rate swap agreements with two bank counterparties. The first swap has a notional value of $400.0 million, fixed rate paid of 3.332% and matures on October 31, 2028. The second swap has a notional value of $400.0 million, fixed rate paid of 3.365% and matures on October 31, 2029. The third swap has a notional value of $400.0 million, fixed rate paid of 3.417% and matures on October 31, 2030. For all three interest rate swaps, the variable rate received is the one-month USD-SOFR (not subject to a floor) that resets at the end of each month. The Company has designated the swaps as cash flow hedges of the interest rate risk inherent in borrowings outstanding under its Credit Agreements due to changes in the benchmark interest rate.

Set forth below is information related to the Company’s cash flow hedges for the years ended December 31:


(Millions)	2025		2024
Cash flow hedges, measured at fair value:
Other current assets	$	0.3	$	0.1
Other current liabilities	$	1.7	$	—
Other liabilities	$	5.5	$	—
Accumulated other comprehensive loss	$	(2.5)	$	(0.6)

Changes in derivative instruments were as follows for the years ended December 31:


(Millions)	2025		2024
Cash flow hedges:
Changes in fair value, net of tax	$	(0.2)	$	(0.6)
Reclassification of unrealized gains, net of tax	$	(1.7)	$	—

As of December 31, 2025, the Company expects to recognize net losses of $0.2 million net of taxes, in interest expense during the next twelve months for interest settlements related to its interest rate swap agreements.

All or a portion of the change in fair value of the interest rate swap agreements recorded in accumulated other comprehensive income (loss) may be recognized in earnings in certain situations. If the Company extinguishes all of its variable rate debt, or a portion of its variable rate debt such that the outstanding notional amount of the swap exceeds the outstanding notional amount of variable rate debt, all or a portion of the change in fair value of the swap may be recognized in earnings. In addition, the change in fair value of the swap may be recognized in earnings if the Company determines it is no longer probable that it will have future variable rate cash flows to hedge against. The Company has assessed the counterparty risk and determined that no substantial risk of default exists as of December 31, 2025, because each counterparty is a bank with a current credit rating at or above A, as determined by Moody’s Ratings, Standard & Poor’s Global Ratings and Fitch Ratings.

The swap agreements with each of the bank counterparties contain cross-default provisions whereby if the Company were to default on certain indebtedness and that indebtedness was to be accelerated, it could result in the counterparties terminating the outstanding swap agreements. Were such a termination to occur, the party that was in a liability position under the applicable swap at the time of such termination would be required to pay the value of the swap, as determined in accordance with the terms of the applicable swap agreement, to the other party. The Company’s obligations to the counterparties are secured and the Company does not post any separate collateral to the bank counterparties related to its interest rate swap agreements.

Balance Sheet Offsetting

The Company is party to master netting arrangements, which are designed to reduce credit risk by permitting net settlement of transactions, with counterparties. For financial statement presentation purposes, the Company does not offset assets and liabilities under these arrangements. As of December 31, 2024, there were no derivative liabilities subject to enforceable master netting arrangements to offset against derivative assets.

The following table presents the Company’s derivative assets subject to an enforceable master netting arrangement as of December 31, 2025.


	Gross Amount of Assets Presented in the Consolidated Balance Sheets		Gross Amount Not Offset in the Consolidated Balance Sheets
(Millions)			Financial Instruments		Cash Collateral Received		Net Amount
December 31, 2025:
Interest rate swaps	$	0.3	$	(0.3)	$	—	$	—

Information pertaining to derivative liabilities was as follows:


	Gross Amount of Liabilities Presented in the Consolidated Balance Sheets		Gross Amount Not Offset in the Consolidated Balance Sheets
Millions			Financial Instruments		Cash Collateral Received		Net Amount
December 31, 2025:
Interest rate swaps	$	7.2	$	(0.3)	$	—	$	6.9

- Definition

The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts.

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+ Details

Government Assistance (Details) homeAndBusiness in Thousands, $ in Millions		1 Months Ended	5 Months Ended	12 Months Ended				43 Months Ended
	Jul. 31, 2025 USD ($)	Jan. 31, 2023 USD ($) household megabytePerSecond county	Dec. 31, 2025 USD ($) state location gigabytePerSecond county	Dec. 31, 2025 USD ($) state location gigabytePerSecond county	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2019 USD ($) location State gigabytePerSecond megabytePerSecond	Jul. 31, 2025 USD ($)	Dec. 31, 2026 USD ($)	Jun. 30, 2024 USD ($) location gigabytePerSecond	May 31, 2024 USD ($) location gigabytePerSecond county	Jun. 30, 2023 USD ($) household county	Dec. 31, 2022 USD ($) household gigabytePerSecond megabytePerSecond county homeAndBusiness	Jan. 01, 2022 USD ($)
Government Assistance [Line Items]
Number of states in which entity operates \| state			47	47
Payments to capital expenditures				$ 22.0	$ 0.0	$ 0.0
Capital expenditures				787.8	354.8	$ 417.0
RDOF Support
Government Assistance [Line Items]
Awarded amount							$ 522.8							$ 52.3
Transaction period							10 years
Number of location in which entity operates \| location							192,000
Number of states in which entity operates \| State							18
Committed download speed \| gigabytePerSecond							1
Committed upload speed \| megabytePerSecond							500
Expected aggregate capital expenditures			$ 635.0	$ 635.0
Milestone completion, percentage			40.00%	40.00%
Proceeds from government grants received			$ 21.8
Grants receivable			4.7	$ 4.7	0.0
Capital expenditures			84.3
State USF Support
Government Assistance [Line Items]
Proceeds from government grants received			22.6
Grants receivable			5.1	5.1	0.0
Georgia State Fiscal Recovery Fund Broadband Infrastructure Program
Government Assistance [Line Items]
Awarded amount			2.2	2.2									$ 170.5
Committed download speed \| gigabytePerSecond													1
Committed upload speed \| gigabytePerSecond													1
Number of counties for which awards granted \| county													18
Number of homes and business to which service is operated \| homeAndBusiness													70
Payments to capital expenditures	$ 140.3		8.7
Capital expenditures	106.8		6.6
Government assistance, other current assets			$ 53.1	$ 53.1	$ 0.0
Government Assistance, Asset, Current, Statement of Financial Position [Extensible Enumeration]			Other current assets	Other current assets	Other current assets
Georgia State Fiscal Recovery Fund Broadband Infrastructure Program \| Windstream
Government Assistance [Line Items]
Proceeds from government grants received								$ 93.7
Investments													$ 129.9
Georgia Capital Projects Fund (“CPF”) Program
Government Assistance [Line Items]
Awarded amount		$ 34.9
Committed download speed \| megabytePerSecond		100
Committed upload speed \| megabytePerSecond		100
Number of counties for which awards granted \| county		4										3
Investments												$ 11.2
Payments to capital expenditures		$ 14.5	$ 5.9
Number of households to which service is operated \| household		4,500										2,200
Additional award granted												$ 8.5
Government assistance, other current assets			20.4	$ 20.4	$ 0.0
Georgia Capital Projects Fund (“CPF”) Program \| Windstream
Government Assistance [Line Items]
Investments		$ 2.0
Empower Rural Iowa, Coronavirus State and Local Fiscal Recovery Funds Grant
Government Assistance [Line Items]
Awarded amount													$ 10.1
Committed download speed \| megabytePerSecond													100
Committed upload speed \| megabytePerSecond													100
Proceeds from government grants received			$ 0.4
Number of counties for which awards granted \| county			10	10
Number of households to which service is operated \| household													2,300
Number of counties in which construction completed \| county			7	7
Government assistance, other current assets			$ 4.5	$ 4.5	0.0
Empower Rural Iowa, Coronavirus State and Local Fiscal Recovery Funds Grant \| Windstream
Government Assistance [Line Items]
Proceeds from government grants received	5.0
Investments													$ 8.7
Payments to capital expenditures	10.1
Capital expenditures	8.7
National Telecommunications and Information Administration (“NTIA”) Broadband Infrastructure Program
Government Assistance [Line Items]
Awarded amount													$ 12.7
Committed download speed \| megabytePerSecond													25
Committed upload speed \| megabytePerSecond													3
Investments													$ 4.7
Payments to capital expenditures	8.0		1.3
Capital expenditures	4.6		0.7
Number of households to which service is operated \| household													5,400
Surety performance bond amount													$ 4.0
Government assistance, other current assets			9.3	9.3	0.0
Commonwealth of Pennsylvania’s Broadband Infrastructure Program
Government Assistance [Line Items]
Awarded amount											$ 11.9
Number of location in which entity operates \| location											2,400
Committed download speed \| gigabytePerSecond											1
Proceeds from government grants received			0.1
Number of counties for which awards granted \| county											3
Capital expenditures	4.2		1.8
Government assistance, other current assets			$ 5.9	$ 5.9	0.0
Matching contribution											$ 11.3
Commonwealth of Pennsylvania’s Broadband Infrastructure Program \| Forecast
Government Assistance [Line Items]
Overall project cost									$ 23.2
North Carolina Completing Access to Broadband Program
Government Assistance [Line Items]
Awarded amount										$ 6.6
Number of location in which entity operates \| location										2,300
Committed download speed \| gigabytePerSecond			1	1						1
Proceeds from government grants received	1.4
Number of counties for which awards granted \| county			3	3
Payments to capital expenditures			$ 2.0
Capital expenditures	$ 0.5		0.8
Additional award granted			21.1	$ 21.1
Government assistance, other current assets			3.4	3.4	0.0
Matching contribution			9.4	9.4
Overall project cost			$ 37.2	$ 37.2
Number of additional counties for which awards granted \| county			7	7
Number of additional location in which entity operates \| location			7,000	7,000
Alachua County, Florida
Government Assistance [Line Items]
Awarded amount			$ 12.6	$ 12.6
Number of location in which entity operates \| location			4,900	4,900
Committed download speed \| gigabytePerSecond			1	1
Payments to capital expenditures			$ 1.9
Capital expenditures			1.6
Government assistance, other current assets			1.9	$ 1.9	$ 0.0
Matching contribution			10.4	10.4
Overall project cost			23.0	$ 23.0
Nebraska USF
Government Assistance [Line Items]
Proceeds from government grants received			$ 7.3

Goodwill and Intangible Assets and Liabilities - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Goodwill [Line Items]
Indefinite-lived intangible assets acquired	$ 78.9
Remaining weighted average amortization period of intangible assets	9 years
Amortization	$ 143.8	$ 29.7	$ 29.7
Revenue related to amortization of below-market leases	$ 7.0	$ 10.7	$ 10.7
Remaining weighted average amortization period of intangible liabilities	2 years 8 months 12 days
Customer relationships
Goodwill [Line Items]
Remaining weighted average amortization period of intangible assets	4 years 7 months 6 days
Customer lists
Goodwill [Line Items]
Remaining weighted average amortization period of intangible assets	12 years 6 months
IPv4 addresses
Goodwill [Line Items]
Remaining weighted average amortization period of intangible assets	17 years 1 month 6 days
Trade name
Goodwill [Line Items]
Remaining weighted average amortization period of intangible assets	14 years 7 months 6 days
Contracts
Goodwill [Line Items]
Remaining weighted average amortization period of intangible assets	2 years 9 months 18 days
Rights of way
Goodwill [Line Items]
Remaining weighted average amortization period of intangible assets	12 years
FCC Spectrum licenses
Goodwill [Line Items]
Initial term	10 years
Weighted average remaining renewal period	4 years 7 months 6 days

Earnings (Loss) Per Share - Narrative (Details) - shares shares in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Impact on if-converted dilutive securities (in shares)	25.3	0.0	0.0
Exchangeable Notes
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from the computation of diluted earnings per share (in shares)		29.0	32.4
Performance Awards
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Impact on if-converted dilutive securities (in shares)	1.2
Anti-dilutive securities excluded from the computation of diluted earnings per share (in shares)	1.1	0.9	0.6

Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2025

Share-Based Payment Arrangement [Abstract]

Schedule of Unvested Restricted Stock Awards

The following table sets forth the number of granted restricted stock awards, the weighted-average fair value and total fair value of these awards at the date of grant:


(Number of shares in thousands)	Restricted Awards	Weighted Average Grant Date Fair Value Per Share	Total Grant Date Fair Value (in millions)
Granted during the year ended December 31, 2025	2,137.6	$8.39	$	17.9
Granted during the year ended December 31, 2024	3,385.2	$7.17	$	24.3
Granted during the year ended December 31, 2023	907.9	$9.59	$	8.7

The following table sets forth the number of unvested restricted stock awards and the weighted-average fair value of these awards at the date of grant:


(Thousands, except fair value)	Restricted Awards	Weighted Average Fair Value at Grant Date	Aggregate Intrinsic Value(1)
Unvested balance December 31, 2024	4,005.3	$7.78
Granted	2,137.6	$8.39
Forfeited	(61.1)	$6.42
Vested	(839.7)	$9.27
Unvested balance, December 31, 2025	5,242.1	$7.56	$	36,747

(1)The aggregate intrinsic value is calculated using the market value of our common stock as of December 31, 2025. The market value as of December 31, 2025 was $7.01 per share, which was the closing price of our common stock reported for transactions effected on the Nasdaq Global Select Market on December 31, 2025, the final trading day of 2025.

Schedule of Unvested Performance-based Stock Units Awards

The following table sets forth the number of granted PSUs, the fair value per share and total fair value of these awards at the date of grant:


(Number of shares in thousands)	Performance Awards	Grant Date Fair Value Per Share	Total Grant Date Fair Value (in millions)
Granted on September 10, 2025	624.9	$10.02	$	6.3
Granted on February 20, 2025	554.1	$12.72	$	7.0
Granted on February 21, 2024	324.3	$13.93	$	4.5
Granted on February 27, 2023	271.1	$13.63	$	3.7

The following table sets forth the number of unvested PSUs and the weighted-average fair value of these awards at the date of grant:


(Thousands, except fair value)	Performance Awards	Weighted Average Fair Value at Grant Date	Aggregate Intrinsic Value(1)
Unvested balance December 31, 2024	851.6	$16.84
Granted	1,179.1	$11.29
Forfeited	(45.6)	$13.80
Vested	(139.9)	$23.92
Unvested balance, December 31, 2025	1,845.2	$12.12	$	12,935

Schedule of Assumptions used to Value PSUs Granted

The following table summarizes the assumptions used to value the PSUs granted during the years ended December 31:


	2025		2024		2023
Expected term (years)	3.0		3.0		3.0
Expected volatility	57.6	%	60.6	%	56.8	%
Expected annual dividend	0.0	%	0.0	%	0.0	%
Risk free rate	3.8	%	4.4	%	4.4	%

Schedule of Assumptions used to Value Purchase Rights Granted Under ESPP

The following table summarizes the assumptions used to value the purchase rights granted under the 2018 ESPP during the years ended December 31:


	2025		2024		2023
Expected term (years)	0.5		0.5		0.5
Expected volatility	50.0	%	59.0	%	58.0	%
Expected annual dividend	—	%	18.7	%	12.2	%
Risk free rate	3.8	%	5.3	%	5.4	%

Employee Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2025

Retirement Benefits [Abstract]

Schedule of Net Benefit Costs

The components of pension income were as follows:


(Millions)	August 1- December 31, 2025
Benefits earned during the period (a)	$	1.0
Interest cost on benefit obligation (b)	12.1
Net actuarial gain (b)	(9.1)
Expected return on plan assets (b)	(13.5)
Net periodic pension income	$	(9.5)

(a)Included in cost of services and selling, general and administrative expense.

(b)Included in other income, net.

Changes in Projected Benefit Obligations, Fair Value of Plan Assets, and Funded Status of Plan

A summary of plan assets, projected benefit obligation and funded status of the pension plan was as follows as of December 31:


(Millions)	2025
Fair value of plan assets as of August 1, 2025	$	441.6
Actual return on plan assets	28.3
Employer contributions (a)	4.5
Benefits paid	(19.3)
Fair value of plan assets as of December 31, 2025	$	455.1
Projected benefit obligation as of August 1, 2025	$	545.2
Interest cost on projected benefit obligations	12.1
Service cost	1.0
Actuarial loss	5.6
Benefits paid	(19.3)
Projected benefit obligation as of December 31, 2025	$	544.6
Plan assets less than projected benefit obligation recorded in the balance sheet:
Current liabilities	$	—
Noncurrent liabilities	(89.5)
Funded status recognized in the consolidated balance sheet	$	(89.5)

Defined Benefit Plan, Assumptions

Actuarial assumptions used to calculate pension income for the period August 1, 2025 to December 31, 2025 were as follows:



Discount rate	5.60	%
Expected return on plan assets	7.75	%
Rate of compensation increase	3.30	%

Actuarial assumptions used to calculate the projected benefit obligations as of December 31, 2025 were as follows:



Discount rate	5.47	%
Expected return on plan assets	7.75	%
Rate of compensation increase:
2026	4.00	%
Thereafter	3.00	%

Schedule of Defined Benefit Plans Disclosures

The asset allocation by asset category was as follows for the year ended December 31, 2025:


Asset Category	Target Allocation	Percentage of Plan Assets
Equity securities	43.5% - 58.1%	51.1	%
Fixed income securities	18.0% - 52.6%	34.6	%
Alternative investments	5.2% - 19.8%	12.6	%
Money market and other short-term interest bearing securities	0.0% - 5.0%	1.7	%
		100.0	%

Schedule of Allocation of Plan Assets

The fair values of pension plan assets were determined using the following inputs as of December 31, 2025:


			Quoted Price in Active Markets for Identical Assets		Significant Other Observable Inputs		Significant Unobservable Inputs
(Millions)	Fair Value		Level 1		Level 2		Level 3
Money market fund (a)	$	28.3	$	—	$	28.3	$	—
Collective and other trust funds (b)	220.3		—		220.3		—
Government and agency securities (c)	91.9		—		91.9		—
Other investments (d)	3.4		3.4		—		—
Investments included in fair value hierarchy	343.9		$	3.4	$	340.5	$	—
Other investments measured at NAV:
Pooled funds (e)	33.7
Private equity funds (f)	54.2
Total investments	431.8
Cash	21.0
Dividends and interest receivable	4.9
Derivatives and other liabilities	(2.6)
Total plan assets	$	455.1

Schedule of Expected Benefit Payments

Expected future employer contributions and benefit payments are as follows as of December 31, 2025:


(Millions)
Expected employer contributions in 2026	$	20.6
Expected benefit payments:
2026	$	48.8
2027	47.8
2028	47.2
2029	46.6
2030	45.7
2031-2035	213.4

Revenues - Schedule of Revenues Disaggregated by Category (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Disaggregation Of Revenue [Line Items]
Operating lease income			$ 669.4	$ 921.4	$ 910.9
Other service and sales revenues			103.7	7.8	0.9
Total revenues and sales			2,234.5	1,166.9	1,149.8
Fiber subscriber
Disaggregation Of Revenue [Line Items]
Total revenues and sales accounted for under ASC 606			195.4	0.0	0.0
DSL subscriber and other
Disaggregation Of Revenue [Line Items]
Total revenues and sales accounted for under ASC 606			257.0	0.0	0.0
Managed services
Disaggregation Of Revenue [Line Items]
Total revenues and sales accounted for under ASC 606			299.0	0.0	0.0
TDM
Disaggregation Of Revenue [Line Items]
Total revenues and sales accounted for under ASC 606			18.7	0.0	0.0
Business services
Disaggregation Of Revenue [Line Items]
Total revenues and sales accounted for under ASC 606			165.7	0.0	0.0
Switched access
Disaggregation Of Revenue [Line Items]
Total revenues and sales accounted for under ASC 606			5.5	0.0	0.0
Uniti Fiber
Disaggregation Of Revenue [Line Items]
Total revenues and sales accounted for under ASC 606			226.5	220.9	215.2
Wholesale
Disaggregation Of Revenue [Line Items]
Total revenues and sales accounted for under ASC 606			247.1	6.5	6.9
Total service revenues accounted for under ASC 606
Disaggregation Of Revenue [Line Items]
Total revenues and sales accounted for under ASC 606			1,414.9	227.4	222.1
Total revenues and sales			2,171.7	1,148.8	1,133.0
Sales revenues
Disaggregation Of Revenue [Line Items]
Total revenues and sales accounted for under ASC 606			46.5	10.3	15.9
Total revenues and sales			62.8	18.1	16.8
Total revenues and sales accounted for under ASC 606
Disaggregation Of Revenue [Line Items]
Total revenues and sales accounted for under ASC 606			1,461.4	237.7	238.0
Kinetic
Disaggregation Of Revenue [Line Items]
Operating lease income			43.8	0.0	0.0
Other service and sales revenues			70.2	0.0	0.0
Total revenues and sales			909.0	0.0	0.0
Kinetic \| Fiber subscriber
Disaggregation Of Revenue [Line Items]
Total revenues and sales accounted for under ASC 606			195.4	0.0	0.0
Kinetic \| DSL subscriber and other
Disaggregation Of Revenue [Line Items]
Total revenues and sales accounted for under ASC 606			257.0	0.0	0.0
Kinetic \| Managed services
Disaggregation Of Revenue [Line Items]
Total revenues and sales accounted for under ASC 606			0.0	0.0	0.0
Kinetic \| TDM
Disaggregation Of Revenue [Line Items]
Total revenues and sales accounted for under ASC 606			0.0	0.0	0.0
Kinetic \| Business services
Disaggregation Of Revenue [Line Items]
Total revenues and sales accounted for under ASC 606			165.7	0.0	0.0
Kinetic \| Switched access
Disaggregation Of Revenue [Line Items]
Total revenues and sales accounted for under ASC 606			5.5	0.0	0.0
Kinetic \| Uniti Fiber
Disaggregation Of Revenue [Line Items]
Total revenues and sales accounted for under ASC 606			0.0	0.0	0.0
Kinetic \| Wholesale
Disaggregation Of Revenue [Line Items]
Total revenues and sales accounted for under ASC 606			136.7	0.0	0.0
Kinetic \| Total service revenues accounted for under ASC 606
Disaggregation Of Revenue [Line Items]
Total revenues and sales accounted for under ASC 606			760.3	0.0	0.0
Total revenues and sales			874.3	0.0	0.0
Kinetic \| Sales revenues
Disaggregation Of Revenue [Line Items]
Total revenues and sales accounted for under ASC 606			34.7	0.0	0.0
Total revenues and sales			34.7	0.0	0.0
Kinetic \| Total revenues and sales accounted for under ASC 606
Disaggregation Of Revenue [Line Items]
Total revenues and sales accounted for under ASC 606			795.0	0.0	0.0
Uniti Solutions
Disaggregation Of Revenue [Line Items]
Operating lease income			0.2	0.0	0.0
Other service and sales revenues			11.6	0.0	0.0
Total revenues and sales	$ 330.1	$ 0.0	330.1	0.0	0.0
Uniti Solutions \| Fiber subscriber
Disaggregation Of Revenue [Line Items]
Total revenues and sales accounted for under ASC 606			0.0	0.0	0.0
Uniti Solutions \| DSL subscriber and other
Disaggregation Of Revenue [Line Items]
Total revenues and sales accounted for under ASC 606			0.0	0.0	0.0
Uniti Solutions \| Managed services
Disaggregation Of Revenue [Line Items]
Total revenues and sales accounted for under ASC 606			299.0	0.0	0.0
Uniti Solutions \| TDM
Disaggregation Of Revenue [Line Items]
Total revenues and sales accounted for under ASC 606			18.7	0.0	0.0
Uniti Solutions \| Business services
Disaggregation Of Revenue [Line Items]
Total revenues and sales accounted for under ASC 606			0.0	0.0	0.0
Uniti Solutions \| Switched access
Disaggregation Of Revenue [Line Items]
Total revenues and sales accounted for under ASC 606			0.0	0.0	0.0
Uniti Solutions \| Uniti Fiber
Disaggregation Of Revenue [Line Items]
Total revenues and sales accounted for under ASC 606			0.0	0.0	0.0
Uniti Solutions \| Wholesale
Disaggregation Of Revenue [Line Items]
Total revenues and sales accounted for under ASC 606			0.0	0.0	0.0
Uniti Solutions \| Total service revenues accounted for under ASC 606
Disaggregation Of Revenue [Line Items]
Total revenues and sales accounted for under ASC 606			317.7	0.0	0.0
Total revenues and sales	329.5	0.0			0.0
Uniti Solutions \| Sales revenues
Disaggregation Of Revenue [Line Items]
Total revenues and sales accounted for under ASC 606			0.6	0.0	0.0
Total revenues and sales	$ 0.6	$ 0.0			0.0
Uniti Solutions \| Total revenues and sales accounted for under ASC 606
Disaggregation Of Revenue [Line Items]
Total revenues and sales accounted for under ASC 606			318.3	0.0	0.0
Fiber Infrastructure
Disaggregation Of Revenue [Line Items]
Operating lease income			625.4	921.4	910.9
Other service and sales revenues			21.9	7.8	0.9
Total revenues and sales			995.4	1,166.9	1,149.8
Fiber Infrastructure \| Fiber subscriber
Disaggregation Of Revenue [Line Items]
Total revenues and sales accounted for under ASC 606			0.0	0.0	0.0
Fiber Infrastructure \| DSL subscriber and other
Disaggregation Of Revenue [Line Items]
Total revenues and sales accounted for under ASC 606			0.0	0.0	0.0
Fiber Infrastructure \| Managed services
Disaggregation Of Revenue [Line Items]
Total revenues and sales accounted for under ASC 606			0.0	0.0	0.0
Fiber Infrastructure \| TDM
Disaggregation Of Revenue [Line Items]
Total revenues and sales accounted for under ASC 606			0.0	0.0	0.0
Fiber Infrastructure \| Business services
Disaggregation Of Revenue [Line Items]
Total revenues and sales accounted for under ASC 606			0.0	0.0	0.0
Fiber Infrastructure \| Switched access
Disaggregation Of Revenue [Line Items]
Total revenues and sales accounted for under ASC 606			0.0	0.0	0.0
Fiber Infrastructure \| Uniti Fiber
Disaggregation Of Revenue [Line Items]
Total revenues and sales accounted for under ASC 606			226.5	220.9	215.2
Fiber Infrastructure \| Wholesale
Disaggregation Of Revenue [Line Items]
Total revenues and sales accounted for under ASC 606			110.4	6.5	6.9
Fiber Infrastructure \| Total service revenues accounted for under ASC 606
Disaggregation Of Revenue [Line Items]
Total revenues and sales accounted for under ASC 606			336.9	227.4	222.1
Total revenues and sales			967.9	1,148.8	1,133.0
Fiber Infrastructure \| Sales revenues
Disaggregation Of Revenue [Line Items]
Total revenues and sales accounted for under ASC 606			11.2	10.3	15.9
Total revenues and sales			27.5	18.1	16.8
Fiber Infrastructure \| Total revenues and sales accounted for under ASC 606
Disaggregation Of Revenue [Line Items]
Total revenues and sales accounted for under ASC 606			$ 348.1	$ 237.7	$ 238.0

Consolidated Statements of Income (Loss) - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Revenues and sales:
Total revenues and sales	$ 2,234.5	$ 1,166.9	$ 1,149.8
Costs and expenses:
Selling, general and administrative	351.5	105.0	100.5
Depreciation and amortization	666.6	314.9	310.5
Goodwill impairment	0.0	0.0	204.0
Gain on sale of operating assets	0.0	(19.0)	0.0
Transaction related and other costs	211.8	38.7	12.6
Total costs and expenses	1,972.5	579.9	771.9
Operating income	262.0	587.0	377.9
Other income (expense), net	8.1	0.3	(18.4)
Loss on extinguishment of debt	(183.0)	0.0	(31.2)
Gain on settlement of preexisting relationships	1,683.9	0.0	0.0
Interest expense, net	(602.8)	(511.4)	(481.2)
Income (loss) before income taxes	1,168.2	75.9	(152.9)
Income tax benefit	136.5	17.5	68.5
Adjustments for equity in earnings from unconsolidated entities	0.0	0.0	2.7
Net income	1,304.7	93.4	(81.7)
Participating securities’ share in earnings	(30.6)	(2.1)	(1.2)
Dividends declared on preferred stock	(25.4)	0.0	0.0
Net income (loss) attributable to common shareholders	$ 1,248.7	$ 91.3	$ (82.9)
Net income (loss) attributable to common shareholders
Basic (in dollars per share)	$ 6.61	$ 0.64	$ (0.58)
Diluted (in dollars per share)	$ 4.87	$ 0.64	$ (0.58)
Weighted-average number of common shares outstanding:
Basic (in shares)	189.0	143.1	142.5
Diluted (in shares)	266.5	143.1	142.5
Service revenues
Revenues and sales:
Total revenues and sales	$ 2,171.7	$ 1,148.8	$ 1,133.0
Costs and expenses:
Cost of services and sales (exclusive of depreciation and amortization included below)	686.6	128.6	132.2
Sales revenues
Revenues and sales:
Total revenues and sales	62.8	18.1	16.8
Costs and expenses:
Cost of services and sales (exclusive of depreciation and amortization included below)	$ 56.0	$ 11.7	$ 12.1

Fair Value of Financial Instruments

12 Months Ended

Dec. 31, 2025

Fair Value Disclosures [Abstract]

Fair Value of Financial Instruments

Fair Value of Financial Instruments:

Fair value of financial and non-financial assets and liabilities is defined as an exit price, representing the amount that would be received to sell an asset or transfer a liability in an orderly transaction between market participants. Authoritative guidance establishes a hierarchy of valuation techniques based on the observability of inputs utilized in measuring assets and liabilities at fair values. This hierarchy establishes market-based or observable inputs as the preferred source of values, followed by valuation models using management assumptions in the absence of market inputs. The three levels of the hierarchy are as follows:

Level 1 – Quoted prices (unadjusted) in active markets for identical assets or liabilities that the reporting entity can access at the assessment date;

Level 2 – Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly; and

Level 3 – Unobservable inputs for the asset or liability.

Financial instruments consist primarily of cash, cash equivalents, restricted cash, accounts receivable, accounts payable, interest rate swaps and notes and other debt, Settlement Payable (as defined below), interest and dividends payable. With respect to the Company’s financial instruments, the carrying amount of cash, cash equivalents, restricted cash, accounts receivable, accounts payable, interest and dividends payable were estimated by management to approximate fair value due to the relatively short period of time to maturity for those instruments. The fair value of interest rate swaps, notes and other debt, and Settlement Payable is measured on a recurring basis.

Non-financial assets and liabilities, including property, plant and equipment, intangible assets and asset retirement obligations, are measured at fair value on a non-recurring basis. No event occurred during the year ended December 31, 2025 requiring any non-financial asset and liability to be subsequently recognized at fair value.

The fair value of financial instruments was as follows as of December 31:


(Millions)	2025		2024
Recorded at Fair Value in the Financial Statements:
Interest rate cap asset - Level 2	$	—	$	0.1
Interest rate swap asset - Level 2	$	0.3	$	—
Interest rate swap liabilities - Level 2	$	7.2	$	—
Not Recorded at Fair Value in the Financial Statements:
Settlement Payable - Level 2	$	—	$	71.7
Notes and other debt, including current portion - Level 2: (a)
Included in current portion of notes and other debt	$	10.1	$	—
Included in notes and other debt, net	$	9,648.3	$	5,879.2

(a)Recognized at carrying value of $9,630.8 million and $5,868.7 million, including the current portion and excluding unamortized deferred financing costs, at December 31, 2025 and 2024, respectively.

The fair value of the interest rate swap was determined based on the present value of expected future cash flows using the applicable observable, quoted swap rates (USD-SOFR) for the full term of the swap and incorporating credit valuation adjustments to appropriately reflect both the Company’s own non-performance risk and non-performance risk of the respective counterparties. As of December 31, 2025, the adjustment to the fair value of the interest rate swap to reflect non-performance risk was immaterial.

The estimated fair value of notes and other debt was based on available external pricing data and current market rates for similar debt instruments, among other factors, which are classified as Level 2 inputs within the fair value hierarchy. Old Uniti was required to make approximately $490.1 million of cash payments to Windstream in equal installments over 20 consecutive quarters beginning October 2020 (the “Settlement Payable”). Old Uniti had the option to prepay any installments due on or after the first anniversary of the settlement agreement (discounted at a 9% rate). In July 2025, Old Uniti made the final quarterly cash installment due to Windstream. See Note 1 9. The Settlement Payable was initially recorded at fair value, using the present value of future cash flows discounted based on observable market data, and accordingly, we classified the inputs used as Level 2 in the fair value hierarchy. There were no changes in the valuation methodologies used since the initial recording of the Settlement Payable.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 107
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-107

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 100
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-100

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(3)
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-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2E
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2E

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (h)
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 940
-SubTopic 820
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478119/940-820-50-1

+ Details

Segments - Narrative (Details)	12 Months Ended
Segments - Narrative (Details)	Dec. 31, 2025 segment
Segment Reporting Information [Line Items]
Number of reportable business segments	3
Kinetic
Segment Reporting Information [Line Items]
Number of reportable business segments	1
Uniti Solutions
Segment Reporting Information [Line Items]
Number of reportable business segments	1
Fiber Infrastructure Segment
Segment Reporting Information [Line Items]
Number of reportable business segments	1

Accumulated Other Comprehensive Loss

12 Months Ended

Dec. 31, 2025

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Accumulated Other Comprehensive Loss

Accumulated Other Comprehensive Loss:

Prior to 2023, Old Uniti had entered into fixed-for-floating interest rate swap agreements to mitigate the interest rate risk inherent in its variable rate senior secured term loan facility. As result of the repayment of the senior secured term loan facility, Old Uniti had also entered into receive-fixed interest rate swaps to offset its existing pay-fixed interest rate swaps, which matured in October 2022. As a result, Old Uniti discontinued hedge accounting as the hedge accounting requirements were no longer met. As of the date of de-designation, amounts in accumulated other comprehensive income (loss) were reclassified to interest expense as the original hedged transactions impacted earnings. As of December 31, 2023, there we no amounts remaining in accumulated other comprehensive income (loss) attributable to Old Uniti's fixed-for-floating or receive-fixed interest rate swaps.

Changes in accumulated other comprehensive loss by component were as follows for the years ended December 31:


(Millions)	2025		2024		2023
Cash flow hedges:
Balance as of beginning of period	$	(0.6)	$	—	$	(30.4)
Change in fair value of interest rate cap, net of tax	(0.1)		(0.6)		—
Change in fair value of interest rate swaps, net of tax	(0.2)		—		—
Amounts reclassified from accumulated other comprehensive loss, net of tax	(1.0)		—		30.4
Balance as of end of period	(1.9)		(0.6)		—
Interest rate swap termination:
Balance as of beginning of period	—		—		30.4
Amounts reclassified from accumulated other comprehensive loss, net of tax	—		—		(30.4)
Balance as of end of period	—		—		—
Accumulated other comprehensive loss as of end of period	$	(1.9)	$	(0.6)	$	—

Summary of Significant Accounting Policies and Changes

12 Months Ended

Dec. 31, 2025

Accounting Policies [Abstract]

Summary of Significant Accounting Policies and Changes

Summary of Significant Accounting Policies and Changes:

Accounting Change – In connection with the Merger, effective August 1, 2025, the Company changed its historical method for depreciating certain property, plant and equipment Old Uniti had acquired from Windstream in the 2015 spin-off transaction from a group composite method to computing depreciation expense using the straight-line method over the estimated useful lives of the related assets. The change is considered preferable because the straight-line method more accurately reflects the pattern of usage and the expected benefits of such assets and provides greater consistency with the depreciation methods used by other companies in the telecommunications industry. This change in depreciation method represented a change in accounting estimate effected by a change in accounting principle and accordingly was accounted for prospectively in accordance with authoritative guidance. The effect of the change to the straight-line method for computing depreciation expense resulted in an increase of $6.7 million in depreciation expense, a $5.9 million decrease in net income, and decreases in basic and diluted earnings per share of $0.03 for the year ended December 31, 2025.

Use of Estimates – The preparation of financial statements, in accordance with GAAP, requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses and disclosure of contingent assets and liabilities. The estimates and assumptions used in the accompanying financial statements are based upon management’s evaluation of the relevant facts and circumstances as of the date of the financial statements. Actual results may differ from the estimates and assumptions used in preparing the accompanying financial statements, and such differences could be material.

Cash and Cash Equivalents – Cash and cash equivalents include all non-restricted cash held at financial institutions and other non-restricted highly liquid investments with original maturities of three months or less.

Restricted Cash – Restricted cash represents funds that are restricted for an obligation under the ABS Loan Facility (as defined in Note 7) to maintain six months of interest on the Class A and Class B notes and three months of interest on the Class C notes and for other expenses. In addition, deposits held as security for indebtedness under Windstream’s corporate purchase card program are not available for use and have been presented as restricted cash as of December 31, 2025.

Accounts Receivable – Accounts receivable consist principally of amounts billed and currently due from customers and are generally unsecured and due within 30 days. The amounts due are stated at their net estimated realizable value. An allowance for credit losses is maintained to provide for the estimated amount of receivables that will not be collected. Concentration of credit risk with respect to accounts receivable is limited because a large number of geographically diverse customers make up our customer base. Due to varying customer billing cycle cut-offs, management must estimate service revenues earned but not yet billed at the end of each reporting period. Included in accounts receivable are unbilled revenues related to services and product sales of $16.7 million and $3.5 million at December 31, 2025 and 2024, respectively.

Accounts receivable consists of the following as of December 31:


(Millions)	2025		2024
Accounts receivable	$	371.6	$	54.0
Less allowance for credit losses	12.6		2.5
Accounts receivable, net	$	359.0	$	51.5

Allowance for Credit Losses – Management estimates credit losses for trade receivables by aggregating similar customer types together to calculate expected default rates based on historical losses as a percentage of total aged receivables. These rates are then applied, on a monthly basis, to the outstanding balances staged by customer. In addition to continued evaluation of historical losses, forward-looking information and forecasts should be considered in determining credit loss estimates. Our current forecast methodology assesses historical trends to project future losses and is not forward-looking for potential economic factors that would change the credit loss model. Therefore, historical trends continue to be the most accurate expectation of future losses as the Company has defined rules around customers who can establish service. Our revenue and associated accounts receivable are based upon a recurring revenue structure whereby customers are billed in advance of service being provided over the ensuing 30 days and there is little month-to-month volatility in the composition of the customer base across all segments. Management is actively monitoring current economic conditions, including the impacts of inflation on our customers and their associated accounts receivable balances in order to adjust the allowance for credit losses accordingly. To date, no material risk has been identified; however, management will continue to monitor and make adjustments, as necessary.

Activity in the allowance for credit losses consisted of the following:


(Millions)
Balance as of December 31, 2023	$	3.2
Provision for estimated credit losses	1.1
Write-offs, net of recovered accounts	(1.8)
Balance as of December 31, 2024	$	2.5
Provision for estimated credit losses	15.9
Write-offs, net of recovered accounts	(5.8)
Balance as of December 31, 2025	$	12.6

Inventories – Inventories include finished goods consisting of network and other equipment to be sold to customers and materials and supplies used for maintenance and repairs. Inventories are stated at the lower of cost or net realizable value. Cost is determined using either an average original cost or specific identification method of valuation.

Prepaid Expenses – Prepaid expenses primarily consist of prepaid services, rent, insurance, taxes, maintenance contracts, refundable deposits, and the current portion of deferred contract costs recorded in accounting for revenue from contracts with customers. Prepayments are expensed on a straight-line basis over the corresponding life of the underlying agreements.

Other Current Assets – Other current assets primarily consist of receivables related to federal and state broadband grant programs (see “Government Assistance” below) and contract assets recorded in accounting for revenue from contracts with customers (see Note 1 1).

Goodwill – Goodwill represents the excess of cost over the fair value of net identifiable tangible and intangible assets acquired through various business combinations. The cost of acquired entities at the date of the acquisition is allocated to identifiable assets, and the excess of the total purchase price over the amounts assigned to identifiable assets has been recorded as goodwill. In accordance with authoritative guidance, goodwill is to be assigned to a company’s reporting units and tested for impairment at least annually or sooner when circumstances indicate an impairment may exist using a consistent measurement date, which for us is October 1st of each year. Goodwill is tested at the reporting unit level. A reporting unit is an operating segment or one level below an operating segment, referred to as a component. A component of an operating segment is a reporting unit for which discrete financial information is available and our executive management team regularly reviews the operating results of that component. Additionally, components of an operating segment can be combined as a single reporting unit if the components have similar economic characteristics. If the fair value of the reporting unit exceeds its carrying value, goodwill is not impaired. If the carrying value of the reporting unit exceeds its fair value, then an impairment loss is recognized equal to the amount by which the carrying value exceeds the reporting unit’s fair value; however, the impairment loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. Prior to performing the quantitative evaluation, an entity has the option to perform a qualitative assessment to determine whether it is more likely than not that the fair value of a reporting unit exceeds the carrying value. Under the qualitative assessment, if an entity determines that it is more likely than not that a reporting unit’s fair value exceeds its carrying value, then the entity is not required to complete the quantitative goodwill impairment assessment. Application of the goodwill impairment test requires significant judgment, including: the identification of reporting units; assignment of assets and liabilities to reporting units; and the estimation of the fair value of a reporting unit.

The fair value of a reporting unit is estimated using a combination of an income approach based on the present value of estimated future cash flows and a market approach based on market data of comparable businesses and acquisition multiples paid in recent transactions. The appropriateness of each valuation methodology is evaluated in determining the weighting applied to each methodology in the determination of the concluded fair value of the reporting unit.

Inherent in the preparation of cash flow projections are significant assumptions and estimates derived from a review of historical operating results and business plans, which includes expected revenue and expense growth rates, capital expenditure plans and cost of capital. In determining these assumptions, our ability to execute on our plans, future economic conditions, interest rates and other market data is considered. Many of the factors used in assessing fair value are outside the control of management, and these assumptions and estimates may change in future periods. Small changes in these assumptions or estimates could materially affect our cash flow projections and, therefore, could affect the likelihood and amount of potential impairment in future periods. Potential events that could negatively impact these assumptions or estimates may include customer losses or poor execution of our business plans, which impact revenue growth, cost escalation impacting margin, the level of capital expenditures required to sustain our growth and market factors, including stock price fluctuations and increased rates, impacting our cost of capital. For example, if the Company were to experience a significant delay in the permitting process related to the construction of our fiber networks, the timing of effected cash flows could impact long-term growth rates and negatively impact the income approach, leading to potential impairment. Furthermore, a deterioration in market factors such as stock prices or increased interest rates and/or declines in acquisition multiples utilized in the market approach could affect the likelihood and amount of potential impairment.

Goodwill Impairment – During the year ended December 31, 2023, as a result of macroeconomic and financial market factors, specifically increased interest rates, Old Uniti concluded that it was more likely than not that the fair value of its Uniti Fiber reporting unit was less than its carrying value. Accordingly, Old Uniti completed a quantitative impairment test and concluded that the fair value of its Uniti Fiber reporting unit, estimated using a combination of the income approach and market approach, was less than its carrying amount. As a result, Old Uniti recorded a $204.0 million goodwill impairment charge in the Uniti Fiber reporting unit.

Indefinite-Lived Intangible Assets – Indefinite-lived intangible assets consist of spectrum licenses that provide the exclusive right to utilize designated radio frequency spectrum to provide telecommunication services. The spectrum licenses were purchased in the 3.5, 24, 28, and 37 gigahertz (“GHz”) airwave auctions conducted by the Federal Communications Commission (“FCC”) in 2020 and 2019. The spectrum licenses have an initial term of 10 years and are subject to renewal by the FCC. Currently, there are no legal, regulatory, contractual, competitive, economic or other factors that would limit the useful life of the spectrum licenses. Management evaluates the useful life determination for the spectrum licenses each year to determine whether events and circumstances continue to support an indefinite useful life. Indefinite-lived intangible assets are not amortized and are tested for impairment annually or more frequently if events or changes in circumstances indicate that it is more likely than not that the asset is impaired.

Finite-lived intangible assets are initially recorded at estimated fair value and presented in the financial statements net of accumulated amortization. Customer relationships are amortized using the sum-of-the-years’ digits method over the estimated lives of the customer relationships. All other finite-lived intangible assets are amortized using a straight-line method over the estimated useful lives. See Note 5 for additional information regarding intangible assets.

Property, Plant and Equipment – Property, plant and equipment is stated at original cost, net of accumulated depreciation. The costs of additions, replacements, substantial improvements and extension of the network to the customer premise, including related contract and internal labor costs, are capitalized, while the costs of maintenance and repairs are expensed as incurred. Capitalized internal labor costs include non-cash share-based compensation and the matching cash contribution to the employee savings plans for those employees directly involved with construction activities. The Company capitalizes a portion of the interest costs it incurs for assets that require a period of time to get them ready to be placed in service. The amount of interest that is capitalized is based on the average accumulated expenditures made during the period involved in bringing the assets to an operational state and the Company’s weighted average interest rate during the respective accounting period. Capitalized interest is included in the cost of the asset with a corresponding reduction in interest expense. Capitalized interest was $9.7 million, $2.8 million and $1.3 million for the years ended December 31, 2025, 2024 and 2023, respectively.

The Company also enters into leasing arrangements providing for the long‑term use of constructed fiber that is then integrated into the Company’s network infrastructure. For each lease that qualifies as a finance lease, the present value of the lease payments, which may include both periodic lease payments over the term of the lease as well as upfront payments to the lessor, is capitalized at the inception of the lease and included in property, plant and equipment.

Depreciation, including amortization of finance lease assets, is computed using the straight-line method over the estimated useful life of the respective property. When the property is retired or otherwise disposed of, the related cost and accumulated depreciation are written off, with the corresponding gain or loss reflected in operating results. Construction in progress includes direct materials and labor related to fixed assets during the construction period. Depreciation begins once the construction period has ceased and the related asset is placed into service, and the asset is then depreciated over its useful life.

Tenant Capital Improvements – Prior to the Merger, under the Windstream Leases (as defined in Note 4) tenant funded capital improvements (“TCIs”), defined as maintenance, repair, overbuild, upgrade or replacements to the leased network, including, without limitation, the replacement of copper distribution systems with fiber distribution systems, automatically became property of Old Uniti upon their construction by Windstream. Old Uniti received non-monetary consideration related to the TCIs as they automatically became its property, and Old Uniti recognized the cost basis of TCIs that were capital in nature as property, plant and equipment and deferred revenue. TCI assets were depreciated over their estimated useful lives and deferred revenue was amortized as additional leasing revenues over the same depreciable life of the TCI assets. At December 31, 2025 and 2024, the net book value of TCIs recorded as a component of property, plant and equipment was $1.1 billion and $1.1 billion, respectively. For the year ended December 31, 2025, revenue related to TCIs and depreciation expense recognized related to TCIs were $30.4 million and $55.7 million respectively. For the years ended December 31, 2024 and 2023, Old Uniti recognized $50.9 million and $47.0 million, respectively, for both revenue and depreciation expense related to TCIs. As further discussed in Note 4, in connection with the Merger and settlement of preexisting relationships, all remaining deferred revenue related to TCIs was derecognized as of August 1, 2025.

Asset Retirement Obligations – Asset retirement obligations are recognized in accordance with authoritative guidance on accounting for asset retirement obligations and conditional asset retirement obligations, which requires recognition of a liability for the fair value of an asset retirement obligation if the amount can be reasonably estimated. Asset retirement obligations include legal obligations to remediate the asbestos in certain buildings upon our exit, to properly dispose of chemically-treated telephone poles upon removal from service and to restore certain leased properties to their previous condition upon exit from the lease. The fair value of the liability for asset retirement obligations, which represents the net present value of the estimated expected future cash outlay, is recognized in the period in which it is incurred, and the fair value of the liability can reasonably be estimated. The liability accretes as a result of the passage of time and related accretion expense is recognized in the consolidated statements of income. The associated asset retirement costs are capitalized as an additional carrying amount of the related long‑lived asset and depreciated on a straight-line basis over the asset’s useful life. As of December 31, 2025 and 2024, the aggregate carrying amount of our asset retirement obligations totaled $66.4 million and $16.7 million, respectively, and are included in other liabilities in the accompanying consolidated balance sheets. During the year ended December 31, 2025, we assumed $50.2 million in asset retirement obligations in the Merger, incurred $0.1 million in liabilities related to asset retirement obligations and derecognized $2.9 million of liabilities for the effects of settlements and exiting certain leased facilities. During the year ended December 31, 2024, we incurred $0.1 million in liabilities related to asset retirement obligations. During the years ended December 31, 2025, 2024, and 2023, we recognized $2.3 million, $1.0 million, and $2.8 million of accretion expense related to asset retirement obligations, respectively, included in depreciation and amortization expense in our consolidated statements of income.

Impairment of Long-Lived Assets – Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of the asset group may not be recoverable from future undiscounted net cash flows expected to be generated by the asset group. If the asset group is not fully recoverable, an impairment loss would be recognized for the difference between the carrying value of the asset group and its estimated fair value based on discounted net future cash flows.

Derivative Instruments – Derivative instruments are accounted for in accordance with authoritative guidance for recognition, measurement and disclosures about derivative instruments and hedging activities, including when a derivative or other financial instrument can be designated as a hedge. This guidance requires recognition of all derivative instruments at fair value as either assets or liabilities on our consolidated balance sheets depending on the rights or obligations under the related contracts, and accounting for the changes in fair value based on whether the derivative has been designated as, qualifies as and is effective as a hedge. For derivative instruments that are designated and qualify as hedging instruments, we record the effective portion of the gain or loss on the hedged instruments as a component of accumulated other comprehensive income or loss in the current period. Any ineffective portion of a derivative’s change in fair value is immediately recognized within net income. For derivatives that do not meet the criteria for hedge accounting, changes in fair value are immediately recognized within net income. Cash settlements related to our cash flow hedges are presented in operating activities within the accompanying consolidated statements of cash flows. In the event a cash flow hedge is no longer highly effective, it will be de-designated and changes in fair value will be recognized in earnings in the current period. See Note 8 for additional information regarding the Company’s hedging activities and derivative instruments.

Revenue Recognition – As a result of the Merger and the newly acquired Windstream consumer, business and wholesale operations, the Company expanded its products and service offerings to include a variety of communication and connectivity services for consumer and business customers including other carriers that use our facilities to provide services to their customers, as well as professional and integrated managed services provided to large enterprises and government customers. These revenues are accounted for under ASC Topic 606, Revenue from Contracts with Customers (“ASC 606”). In addition to revenues earned from leasing arrangements, revenues that are not accounted for under ASC 606 now also include amounts earned from federal and state Universal Service Fund (“USF”) programs and other regulatory-related sources and activities.

A contract’s transaction price, considering discounts given for bundled purchases and promotional credits, is allocated to each distinct performance obligation, a promise in a contract to transfer a distinct good or service to the customer, and recognized as revenue when, or as, the performance obligation is satisfied. While the majority of our contracts have multiple performance obligations, the revenue recognition pattern is generally not impacted by the allocation since the performance obligations are generally satisfied over the same period of time. When the method and timing of transfer and performance risk are the same, services are deemed to be highly interdependent. Highly interdependent, indistinct services are combined into a single performance obligation. Although each month of services promised is a separate performance obligation, the series of monthly service performance obligations promised over the course of the contract is deemed to be a single performance obligation for purposes of the allocation. Certain contracts include discounts and promotional credits given to customers. Discounts and promotional credits are included in the transaction price based on historical experience and anticipated performance.

For contracts with multiple performance obligations, the contract’s transaction price is allocated to each performance obligation based on the relative standalone selling price of each performance obligation in the contract. The standalone selling price is the estimated price the Company would charge for the good or service in a separate transaction with similar customers in similar circumstances. Identifying distinct performance obligations and determining the standalone selling price for each performance obligation within a contract with multiple performance obligations requires management judgment.

Performance obligations are satisfied over time as services are rendered or at a point in time depending on our evaluation of when the customer obtains control of the promised goods. Revenue is recognized when obligations under the terms of a contract with the customer are satisfied; generally, this occurs when services are rendered, or control of the communication products is transferred. Service revenues are recognized over the period that the corresponding services are rendered to customers.

Revenues that are billed in advance include monthly recurring network access and data services, special access and monthly recurring voice, internet and other related charges. Revenues derived from other telecommunications services, including interconnection, long-distance and enhanced services are recognized monthly as services are provided. Telecommunications network maintenance revenue from indefeasible rights to use fiber optic network facility arrangements are generally recognized over the term of the related contract. Sales of communications products including customer premise equipment and modems are recognized when products are delivered to and accepted by customers.

In determining whether installation is a separate performance obligation, management evaluates, among other factors, whether other performance obligations are highly dependent upon installation requiring significant integration or customization or whether a customer can benefit from the installation with other readily available resources. In circumstances where customers can benefit from the installation with other readily available resources, installation is a separate performance obligation. Installation revenue is recognized when the installation is complete. In circumstances where other telecommunication service performance obligations are highly dependent upon installation, installation is not a separate purchase obligation, and accordingly, the installation fees are included in the transaction price allocated to and recognized with other telecommunication service performance obligations.

Fees assessed to customers for service activation are considered a material right in a month-to-month contract. These service activation fees are deferred and recognized as service revenue on a straight-line basis over the estimated life of the customer. Determining the estimated life of the customer requires management judgment. The estimated life of customer relationships varies by customer type. Wholesale customer lives are estimated based on the average number of months each individual circuit is active. Business customer lives are based on average contract terms. Residential customer lives are estimated based on average customer tenure.

In determining whether to include in revenues and expenses, the taxes and surcharges assessed and collected from customers and remitted to government authorities, including USF charges, sales, use, value added and excise taxes, management evaluates, among other factors, whether the Company is the primary obligor or principal taxpayer for the fees and taxes assessed in each jurisdiction in which it operates. In those jurisdictions for which the Company is the primary obligor, taxes and surcharges are recorded on a gross basis and included in revenues and costs of services and products. In jurisdictions in which the Company functions as a collection agent for the government authority, taxes are recorded on a net basis and the amounts excluded from revenues and costs of services and products.

See Note 1 1 for additional information regarding revenues from contracts with customers including contract balances, remaining performance obligations, revenue by category and deferred contract costs.

Government Assistance – The Company receives federal and state governmental assistance in the form of subsidies and grants for either the construction of long-lived assets used in providing broadband service or to help offset the high cost of providing service to rural markets. In absence of specific GAAP related to the accounting for government grants applicable to for-profit entities, the Company considered the application of other authoritative accounting guidance by analogy and concluded that International Accounting Standard 20 – Accounting for Government Grants and Disclosures of Government Assistance (“IAS 20”) was the most appropriate authoritative guidance for recording and classifying federal and state governmental assistance received by the Company.

Under IAS 20, the accounting for government grants should be based on the nature of the expenditures which the grant is intended to compensate for and should be recognized when there is reasonable assurance that the Company has met the requirements of the applicable program and there is reasonable assurance that the funding will be received. Grants that compensate the Company for the cost of acquiring or constructing long-lived assets are recognized as a reduction in the cost of the related assets. If the Company receives the grant funding upfront in advance of completing the related construction project, the Company establishes a liability for the portion of the grant funds received but not yet spent. The liability is then relieved on a pro rata basis as construction occurs, and capital expenditures are incurred. Conversely, if the Company incurs capital expenditures before receiving the grant funds, the Company records a receivable equal to the amount of capital expenditures incurred to be funded by the grant. Included in other current assets were $108.1 million as of December 31, 2025. There was no grant receivable outstanding as of December 31, 2024.

Leases – The Company leases network assets, including towers and equipment, real estate, office space and office equipment and vehicles. We also enter into colocation and fiber lease arrangements, and service contracts that may include embedded leases. A lease exists when a contract conveys the right to control the use of identified property, plant, or equipment for a period of time in exchange for consideration. Leases are classified as either finance or operating leases based on whether or not the lease is effectively a financed purchase. The classification will determine whether lease expense is comprised of amortization on the right-of-use (“ROU”) asset and interest expense recognized based on an effective interest method (a finance lease) or as a single lease cost recognized on a straight-line basis over the term of the lease (an operating lease). A ROU asset and a lease liability is recognized for all leases with a term of greater than 12 months regardless of classification. Leases with an initial term of 12 months or less are not recorded on the balance sheet, and lease expense for these leases is recognized on a straight-line basis over the lease term.

ROU assets and lease liabilities related to operating leases where we are the lessee are separately presented in the accompanying consolidated balance sheets. The ROU asset is initially measured as the initial amount of the lease liability adjusted for lease payments made at or before the lease commencement date, plus any initial direct costs incurred less any lease incentives received. The ROU asset is subsequently measured throughout the lease term at the carrying amount of the lease liability, plus initial direct costs, plus (minus) any prepaid (accrued) lease payments, less the unamortized balance of lease incentives received. The lease liabilities are initially and subsequently measured at the present value of the unpaid lease payments. Lease expense for lease payments is recognized on a straight-line basis over the lease term.

ROU assets and lease liabilities related to finance leases where we are the lessee are included in property, plant and equipment, net and other current liabilities and other liabilities, respectively, in the accompanying consolidated balance sheets. The ROU asset is initially measured as the initial amount of the lease liability adjusted for lease payments made at or before the lease commencement date, plus any initial direct costs incurred, less any lease incentives received. The ROU asset is subsequently amortized using the straight-line method from the lease commencement date to the earlier of the end of its useful life or the end of the lease term unless the lease transfers ownership of the underlying asset to the Company, or management is reasonably certain to exercise an option to purchase the underlying asset. In those cases, the ROU asset is amortized over the useful life of the underlying asset. The lease liabilities are initially measured in the same manner as operating leases and are subsequently measured at amortized cost using the effective interest method. Amortization of the finance lease assets is recognized and presented separately from interest expense on the lease liability, as part of depreciation and amortization expense on the consolidated statements of income (loss).

In determining the present value of future minimum lease payments, the Company uses an incremental borrowing rate when the rate implicit in the lease is not readily determinable. The incremental borrowing rate is the rate of interest Uniti would have to pay on a collateralized basis to borrow an amount equal to the lease payments under similar terms. The lease term for all leases includes the noncancellable period of the lease plus any additional periods covered by either a lessee option to extend (or not to terminate) the lease that the lessee is reasonably certain to exercise, or an option to extend (or not to terminate) the lease controlled by the lessor. The exercise of lease renewal options is at our sole discretion. At inception of a lease, the lease term is generally equal to the initial lease term as a renewal is not reasonably certain at inception. Subsequent renewals are treated as lease modifications. Due to the nature and expected use of the leased assets, exercise of renewal options is reasonably certain for month-to-month fiber, colocation, point of presence and rack space leases. The lease term is based on the average lease term for similar assets or expected period of use of the underlying asset.

Variable lease payments associated with leases are recognized when the event, activity, or circumstance in the lease agreement on which those payments are assessed occurs. Certain of our lease agreements include rental payments adjusted periodically for inflation. Lease liabilities are not remeasured as a result of changes to the inflation index. Changes to the inflation index are treated as variable lease payments and recognized in the period in which the obligation for those payments was incurred. Our lease agreements do not contain any material residual value guarantees or material restrictive covenants.

The Company monitors for events or changes in circumstances that require a reassessment of a lease. When a reassessment results in the remeasurement of a lease liability, a corresponding adjustment is made to the carrying amount of the corresponding ROU asset unless doing so would reduce the carrying amount of the ROU asset to an amount less than zero.

Certain lease agreements include lease and nonlease components. For leases where we are the lessee, lease and nonlease components are combined for all lease contracts. For leases where we are the lessor, lease and non-lease components are combined when the components qualify to be combined and accounted for based on whether the lease or non-lease component is predominant. Maintenance services are the primary nonlease components and the combined components typically are treated as leases for revenue recognition purposes. Sales taxes are excluded from lease payments in arrangements where we are the lessor.

Leasehold improvements are amortized over the shorter of the estimated useful life of the asset or the lease term, including renewal option periods that are reasonably assured.

For operating leases where we are the lessor, the underlying asset is recognized and depreciated over its estimated useful life. Lease income is recognized on a straight-line basis over the lease term. Leasing revenue is not recognized when collection of all contractual rents over the term of the agreement is not probable. When collection is not probable, lease revenue is limited to the lesser of the revenue recognized on a straight-line basis or cash basis.

Straight-line revenue receivables are accounted for in accordance with the provisions of Topic 842, Leases ("ASC 842"), where if the collectability of lease payments is not probable at the commencement date, or at any time during the lease term, then lease revenue is limited to the lesser of the revenue recognized on a straight-line basis or cash basis. If the assessment of collectability changes after the commencement date, the difference between the lease revenue that would have been recognized on a straight-line basis and cash basis is recorded as a current period adjustment to lease revenue.

From time to time the Company may enter into sales-type lease arrangements as a lessor that may include (i) a lessee obligation to purchase the leased equipment at the end of the lease term, (ii) a bargain purchase option, (iii) a lease term having a duration that is for the major part of the remaining economic life of the leased equipment or (iv) provides for minimum lease payments with a present value amounting to substantially all of the fair value of the leased asset at the date of lease commencement.

Pension Benefits – Changes in the fair value of plan assets and actuarial gains and losses due to actual experience differing from actuarial assumptions, are recognized as a component of net periodic pension income (expense) in the fourth quarter in the year in which the gains and losses occur, and if applicable in any quarter in which an interim remeasurement is required. The remaining components of net periodic pension income (expense), primarily benefits earned, interest cost and expected return on plan assets, are recognized ratably on a quarterly basis. See Note 1 3 for additional information regarding actuarial assumptions, net periodic pension income, projected benefit obligation, plan assets, future contributions and payments.

Deferred Financing Costs – The Company recognizes debt issuance costs related to a recognized debt liability as a direct deduction from the carrying amount of the debt liability, consistent with debt discounts. The costs, which include underwriting, legal, and other direct costs related to the issuance of debt, are amortized over the contractual term of the debt using the effective interest method.

Gain on Sale of Operating Assets – Old Uniti had previously acquired certain fiber assets from CableSouth Media, LLC (“CableSouth”) and leased back certain of those acquired assets to CableSouth pursuant to a triple-net lease agreement. During the fourth quarter of 2023, Old Uniti entered into an agreement with a fund managed by Macquarie Asset Management (“MAM”) pursuant to which MAM would make a structured equity investment into CableSouth in order to assist CableSouth in the acquisition of all of the previously acquired CableSouth fiber assets and the buyout of their triple-net lease for cash consideration of $40.0 million. Old Uniti completed the sale transaction on January 31, 2024, and recorded a $19.0 million pretax gain, which is included in the accompanying consolidated statement of income for the year ended December 31, 2024.

Advertising – Advertising costs are expensed as incurred. Advertising expense totaled $25.2 million, $1.6 million and $1.5 million for the years ended December 31, 2025, 2024 and 2023, respectively.

Stock-Based Compensation – The Company accounts for stock-based compensation using the fair value method of accounting. Stock-based payment awards granted in exchange for employee services qualify as equity classified awards, which are measured based on the fair value of the award on the date of the grant. The fair value of restricted stock-based payments is based on the market value of the Company's common stock on the date of grant. The fair value of performance-based awards, which have performance conditions, is based on a Monte Carlo simulation. The fair value of all stock-based compensation is recognized over the period during which an employee is required to provide services in exchange for the award. The expense recognized includes the impact of forfeitures as they occur. See Note 1 4.

Income Taxes – Income taxes are accounted for in accordance with guidance on accounting for income taxes under the asset and liability method. Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax balances are adjusted to reflect tax rates based on currently enacted tax laws, which will be in effect in the years in which the temporary differences are expected to reverse. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the results of operations in the period of the enactment date. A valuation allowance is recorded to reduce the carrying amounts of deferred tax assets unless it is more likely than not that such assets will be realized. Uncertain tax positions are accounted for in accordance with authoritative guidance which prescribes a minimum recognition threshold a tax position is required to meet before being recognized in the financial statements. Our evaluations of tax positions consider various factors including, but not limited to, changes in tax law, the measurement of tax positions taken or expected to be taken in tax returns, the effective settlement of matters subject to audit, information obtained during in process audit activities and changes in facts or circumstances related to a tax position. Potential interest and penalties related to unrecognized tax benefits are accrued for in income tax benefit (expense). The Company uses the portfolio approach for releasing income tax effects from accumulated other comprehensive income.

Old Uniti had elected for federal income tax purposes to be treated as a REIT under the Internal Revenue Code of 1986, as amended (the “Code”). To qualify as a REIT, Old Uniti was required to distribute at least 90% of its annual REIT taxable income, determined without regard to the dividends paid deduction and excluding any capital gains, to shareholders, and meet certain organizational and operational requirements, including asset holding requirements. As a REIT, Old Uniti was generally not subject to U.S. federal income tax on income that was distributed as dividends to its shareholders. Old Uniti was required to record a provision in its consolidated financial statements for U.S. federal income taxes related to the activities of the REIT and its passthrough subsidiaries for any undistributed income. Old Uniti was subject to the statutory requirements of the locations in which it conducted business, and state and local income taxes were accrued as deemed required in the best judgment of management based on analysis and interpretation of respective tax laws. Old Uniti had elected to treat the subsidiaries through which it operated Uniti Fiber and certain subsidiaries of Uniti Leasing as taxable REIT subsidiaries (“TRSs”). TRSs enabled Old Uniti to engage in activities that resulted in income that did not constitute qualifying income for a REIT. The TRSs were subject to U.S. federal, state and local corporate income taxes.

Exchanges of Noncontrolling Interests – The limited partnership interests in the Operating Partnership (commonly called “OP Units”), were exchangeable on a one-for-one basis for shares of common stock or, at our election, cash of equivalent value. During the first quarter of 2025, Old Uniti exchanged all remaining 14,722 OP Units held by third parties for cash consideration of $0.1 million. During the year ended December 31, 2024, Old Uniti exchanged 91,188 OP Units held by third parties, of which 76,466 OP Units were exchanged for an equal number of shares of common stock and 14,722 OP Units were purchased for cash consideration of $0.1 million. During the year ended December 31, 2023, there were no OP Units exchanged.

Investments in Unconsolidated Entities – Investments in unconsolidated entities are reported under the equity method of accounting. Investments in unconsolidated entities are adjusted for additional contributions made, distributions received as well as our share of the investees’ earnings or losses, which are reported on a 30-day lag for the investment in BB Fiber Holdings LLC (“Fiber Holdings”), and are included in equity in earnings from unconsolidated entities in the accompanying consolidated statements of income (loss).

On December 21, 2023, Old Uniti completed the sale of its investment in Fiber Holdings to MIP IV MidWest Fiber Parent LLC, our partner in the investment, for total cash consideration of $40.0 million, which was received in January 2024. As a result of the transaction, Old Uniti recorded a pre-tax gain of $2.6 million included in other income (expense), net.

Dividend Distributions – Distributions with respect to Old Uniti's common stock were characterized for federal income tax purposes as taxable ordinary dividends, capital gains dividends, non-dividend distribution or a combination thereof. There were no common stock dividend distributions during 2025. For both the years ended December 31, 2024, and 2023, common stock distributions per share were $0.75, characterized as follows at December 31:


	2024		2023
Ordinary dividends	$	0.65	$	0.75
Capital gain distribution	0.06		—
Non-dividend distributions	0.04		—
Total	$	0.75	$	0.75

Recently Adopted Accounting Pronouncements

Income Taxes – In December 2023, the FASB issued Accounting Standards Update (“ASU”) 2023-09, Income Taxes (Topic 740) - Improvements to Income Tax Disclosures (“ASU 2023-09”). The standard intends to improve transparency about income tax information primarily through changes to the tax rate reconciliation and income taxes paid disclosures. ASU 2023-09 requires entities on an annual basis to disclose a tabular rate reconciliation using both percentages and dollar amounts that include specific categories of reconciling items and to provide additional information for reconciling items that meet a specified quantitative threshold. ASU 2023-09 also requires entities to disclose on an annual basis the amount of income taxes paid (net of refunds received) disaggregated by federal, state and foreign jurisdictions and for individual jurisdictions in which income taxes paid (net of refunds received) is equal to or greater than 5% of total income taxes paid (net of refunds received). ASU 2023-09 was effective for fiscal years beginning after December 15, 2024. The Company adopted the amendments in ASU 2023-09 effective January 1, 2025 on a prospective basis, and has included the additional required disclosures within Note 16. As ASU 2023-09 only effected the Company's annual income tax disclosures, the adoption of this standard did not impact the Company’s consolidated financial position, results of operations or cash flows.

Recently Issued Accounting Pronouncements Not Yet Adopted

Government Assistance – In December 2025, the FASB issued ASU 2025-10, Government Grants (Topic ASC 832) Accounting for Government Grants Received by Business Entities (“ASU 2025-10”). ASU 2025-10 provides guidance on how business entities should recognize, measure, and present government grants received by prescribing an accounting model based on the main principles in IAS 20, defining a government grant as a transfer of a monetary or tangible nonmonetary asset, other than an exchange transaction, from a government to a business entity, providing a recognition threshold under which a grant is recognized when both (1) it is probable that the entity will comply with the grant’s conditions and that the grant will be received, and (2) the entity meets the specific recognition guidance for a grant related to an asset or a grant related to income. Additionally, ASU 2025-10 leverages existing disclosure requirements in ASC 832 for annual periods. The amendments in ASU 2025-10 are effective for fiscal years and for interim periods beginning after December 15, 2028, and early adoption is permitted. The Company is currently assessing the effect of this update on our consolidated financial statements and related disclosures.

Credit Losses – In July 2025, the FASB issued ASU 2025-05, Financial Instruments - Credit Losses (Topic ASC 326) Measurement of Credit Losses for Accounts Receivable and Contract Assets (“ASU 2025-05”). The amendments in this ASU provide entities with a practical expedient they may elect to use when developing an estimate of expected credit losses on current accounts receivable and current contract asset balances arising from transactions accounted for under Topic ASC 606 - Revenue from Contracts with Customers. Under this practical expedient, entities may elect to assume that current conditions as of the balance sheet date do not change for the remaining life of the asset. The amendments in ASU 2025-05 become effective for fiscal years and for interim periods beginning after December 15, 2025, and early adoption is permitted. The Company is currently assessing the effect of this update on our consolidated financial statements and related disclosures.

Disaggregation of Expenses – In November 2024, the FASB issued ASU 2024-03, Income Statement - Reporting Comprehensive Income (Topic 220) - Expense Disaggregation Disclosures (“ASU 2024-03”). This update requires public business entities to provide more detailed disclosure in the notes to the financial statements of certain categories of expenses, such as purchases of inventory, employee compensation, depreciation, and intangible asset amortization, that are components of existing captions presented on the face of the statement of operations. ASU 2024-03 is effective for annual reporting periods beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027, with early adoption permitted. The amendments in ASU 2024-03 may be applied either prospectively or retrospectively. The Company is currently evaluating the impact that ASU 2024-03 will have on its financial statement presentation and disclosures.

Internal Use Software – In September 2025, the FASB issued ASU No. 2025-06, Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software (“ASU 2025-06”) that updates the accounting guidance for internal-use software costs by removing references to prescriptive and sequential development stages of a project and replacing them with new criteria used in determining when to start capitalizing software costs. Under the new guidance, capitalization begins when management authorizes and commits to funding the software project and it is probable the project will be completed, and the software will be used to perform the intended function. The new guidance also clarifies that capitalized internal-use software costs are subject to the property, plant, and equipment disclosure requirements. The amendments in ASU 2025-06 are effective for fiscal years beginning after December 15, 2027, and for interim reporting periods within those annual fiscal years, with early adoption permitted. The guidance may be applied on a prospective basis, a modified basis for in-process projects, or a retrospective basis. The Company is currently assessing the effect of this update on our consolidated financial statements and related disclosures.

Interim Reporting – In December 2025, the FASB issued ASU 2025-11, Interim Reporting (Topic 270): Narrow-Scope Improvements (“ASU 2025-11”). This ASU clarifies that the interim reporting requirements in Topic 270 apply to all entities that issue interim financial statements prepared in accordance with U.S. GAAP and consolidates such requirements within Topic 270. The amendments provide a comprehensive list within Topic 270 of required interim disclosures, establish a principle requiring disclosure of events or changes occurring after the end of the most recent annual reporting period that have a material impact on interim results and clarifies the form and content requirements applicable to interim financial statements. The amendments in ASU 2025-11 are effective for the interim reporting periods within annual reporting periods beginning after December 15, 2027, with early adoption permitted. This ASU can be applied either prospectively or retrospectively to any or all prior periods presented in the financial statements. The Company is currently evaluating ASU 2025-11 to determine the impact it may have on our consolidated financial statements.

Derivatives - Narrative (Details) $ in Millions	Aug. 22, 2025 USD ($)	Dec. 31, 2025 USD ($) agreement	Oct. 24, 2025 USD ($)	Oct. 06, 2025 USD ($) agreement numberOfCounterparty	Feb. 03, 2025 USD ($)	Dec. 31, 2024 USD ($)	Mar. 01, 2024 USD ($)
Derivative [Line Items]
Notes and other debt, net		$ 9,540.5				$ 5,861.5
Net losses, net of taxes		0.2
Windstream Term Loan
Derivative [Line Items]
Notes and other debt, net		500.0
ABS Bridge Loan Facility
Derivative [Line Items]
Notes and other debt, net		0.0	$ 250.0		$ 589.0	$ 275.0
Interest rate swap:
Derivative [Line Items]
Derivative, number of instruments held \| agreement				3
Number of counterparties \| numberOfCounterparty				2
First Swap
Derivative [Line Items]
Derivative, notional value		$ 200.0		$ 400.0
Fixed interest rate		4.173%		3.332%
Second Swap
Derivative [Line Items]
Derivative, notional value		$ 300.0		$ 400.0
Fixed interest rate				3.365%
Cash proceeds	$ 2.4
Third Swap
Derivative [Line Items]
Derivative, notional value				$ 400.0
Fixed interest rate				3.417%
Interest rate cap: \| ABS Bridge Loan Facility
Derivative [Line Items]
Derivative, notional value							$ 275.0
Derivative, cap interest rate							4.50%
Windstream Term Loan \| Interest rate swap:
Derivative [Line Items]
Derivative, number of instruments held \| agreement		2

Government Assistance	12 Months Ended
Government Assistance	Dec. 31, 2025
Government Assistance [Abstract]
Government Assistance	Government Assistance: The Company receives federal and state governmental assistance in the form of subsidies and grants for either the construction of long-lived assets used in providing broadband service or to help offset the high cost of providing service to rural markets. Federal and state governmental assistance received by the Company and accounted for as service revenues consist of the following: RDOF Support – In 2019, the FCC announced RDOF for rural broadband deployments. Windstream was awarded $522.8 million in RDOF support over ten years ($52.3 million per year beginning in 2022) to provide rural broadband service to approximately 192,000 locations in eighteen states. Windstream committed to offering broadband service at speeds of at least 1 Gbps download and 500 Megabytes per second (“Mbps”) upload and meeting certain network latency performance requirements. Windstream expected to incur approximately $635.0 million in aggregate capital expenditures during the years 2022 through 2027 in meeting its broadband service requirements. During the period from August 1, 2025 to December 31, 2025, the Company incurred $84.3 million in capital expenditures related to RDOF. Recipients of RDOF support are required to file annual reports indicating their progress in meeting their milestone broadband service requirements and are subject to specific record retention and audit requirements. Failure to timely submit the required reporting or meet specified milestones could result in the withholding of future funding and/or recovery of previous support provided. Uniti met the 40% completion milestone on or before December 31, 2025 in a number of states but permitting delays led to a shortfall in other areas. Uniti notified the FCC and Universal Service Administrative Company on January 15, 2026, and we will cooperate with the FCC on any non‑compliance measures resulting from the delay. During the period from August 1, 2025 to December 31, 2025, the Company received $21.8 million in RDOF funding. As of December 31, 2025, accounts receivable included $4.7 million for RDOF support received in January 2026, respectively. There was no RDOF receivable outstanding as of December 31, 2024. State USF Support – The Company receives funding from state USF programs in eight states with a substantial portion of the funding received in Texas, Pennsylvania and New Mexico. This funding is intended to subsidize, apart from federal programs, the high cost of operating telecommunications networks in certain rural areas. The Company is required to provide periodic reporting in accordance with the requirements of the individual states documenting that the funding was used to support the provisioning of service to customers, including the maintenance and operation of the network facilities. State USF funding received during the period August 1, 2025 to December 31, 2025 totaled $22.6 million. As of December 31, 2025, accounts receivable included $5.1 million for support not yet received related to the state USF programs. There was no State USF receivable outstanding as of December 31, 2024. Grant funds received for capital expenditures to expand the availability and affordability of residential broadband service via direct grants or through the formation of public private partnerships recognized as a reduction in the cost of the related assets consisted of the following: Georgia State Fiscal Recovery Fund Broadband Infrastructure Program – In 2022, Windstream announced it would partner with eighteen counties across Georgia for fiber broadband expansion to deliver 1 Gbps Internet service to approximately 70,000 Georgia homes and businesses. Funding for these broadband projects will come from $170.5 million in grants awarded to the counties and funded through the federal American Rescue Plan Act of 2021 (“ARPA”). Windstream expected to invest $129.9 million of its own capital to complete the projects and Windstream was responsible for all project costs that exceeded the amounts of the grants. All expenditures covered by the grant funds must be incurred by October 31, 2026, and each county must submit expenses for reimbursement directly to the State of Georgia no later than December 31, 2026. Grant funds must be used solely for costs directly incurred to complete the broadband project identified in the approved grant application. The Company is required to submit adequate supporting documentation for each expenditure incurred monthly to the applicable county, which in turn, will submit a request for reimbursement directly to the State of Georgia. Upon reimbursement from the State of Georgia, the county will remit the funds to the Company. Construction projects related to this program are expected to be completed in 2026. Upon completion of each project, the Company will be able to offer broadband service speeds of at least 1 Gbps download and upload to the households within each county. The county will have no ownership right or interest in any of the constructed assets, as the Company will retain full legal and/or beneficial title to the constructed assets. Each county will be responsible for preparing and submitting all reporting required in connection with its receipt of the funds, including financial reports, performance reports, and annual reports. The Company will provide each county information necessary for the county to fulfill its reporting obligations. All grant funds will be subject to recapture and repayment for non-compliance. The State of Georgia shall have the right to terminate the grant agreement and to recapture and be reimbursed for any payments made: (i) that are not allowed under applicable laws, rules and regulations; or (ii) that are otherwise inconsistent with the grant agreement, including any unapproved expenditures. The Company fully expects to meet all future construction and service requirements and therefore expects to receive and retain all grant proceeds related to this program. Prior to the Merger, Windstream received $93.7 million in aggregate grant funds under this program and total capital expenditures funded by the grant and Windstream were $140.3 million and $106.8 million, respectively. During the period August 1, 2025 to December 31, 2025, the Company received $2.2 million in grant funds and total capital expenditures funded by the grant and the Company were $8.7 million and $6.6 million, respectively. As of December 31, 2025, other current assets included $53.1 million for funding not yet received. There was no funding due to the Company as of December 31, 2024. Georgia Capital Projects Fund (“CPF”) Program – In January 2023, Windstream was awarded grants under the CPF Program in the State of Georgia for fiber broadband expansion to deliver broadband service speeds of at least 100-Mbps download and upload to approximately 4,500 households across four counties in Georgia. Funding for these broadband projects will come from $34.9 million in grants awarded to Windstream and funded through ARPA. Windstream expected to invest approximately $2.0 million of its own capital to complete the projects. All expenditures covered by the grant funds must be incurred by December 31, 2026, and all requests for reimbursement of qualified expenditures must be made directly to the State of Georgia no later than December 31, 2026. In June 2023, Windstream was awarded an additional $8.5 million through a second round of the CPF Program in the State of Georgia. Windstream expected to invest $11.2 million of its own capital to expand broadband service to an additional 2,200 households across another three counties in Georgia. All expenditures covered by the grant funds must be incurred by October 31, 2026, and all requests for reimbursement of qualified expenditures must be made directly to the State of Georgia no later than December 31, 2026. Under the CPF Program, the State of Georgia shall have the right to terminate the grant agreements and to recapture and be reimbursed for any payments made: (i) that are not allowed under applicable laws, rules and regulations; or (ii) that are otherwise inconsistent with the grant agreement, including any unapproved expenditures. Construction for these projects is underway with reimbursements occurring at various milestones through project completion. Prior to the Merger, no grant funds had been received under the CPF Program and total capital expenditures funded by the CPF Program were $14.5 million. As of August 1, 2025, Windstream had not expended any of its own capital for these projects. During the period August 1, 2025 to December 31, 2025, the Company did not receive any grant funds under the CPF Program and total capital expenditures funded by the CPF grant were $5.9 million. The Company did not fund any capital expenditures during the period August 1, 2025 to December 31, 2025. As of December 31, 2025, other current assets included $20.4 million for funding not yet received. There was no funding due to the Company as of December 31, 2024. Empower Rural Iowa, Coronavirus State and Local Fiscal Recovery Funds Grant – In 2022, Windstream was awarded grants in ten counties across Iowa for fiber broadband expansion to deliver 100-Mbps Internet service to more than 2,300 Iowa households. Funding for these broadband projects will come from a total of $10.1 million in grants awarded to the counties and funded through ARPA. Windstream expected to invest $8.7 million of its own capital to complete the projects. Grant funds must be used solely for costs directly incurred to complete the broadband project identified in the approved grant application, and each county may pay through September 30, 2026. The Company is responsible for any costs that exceed the grant amount awarded by each county. The Company will be required to submit adequate supporting documentation request for reimbursement directly to the State of Iowa Broadband Office (A Division of the Department of Management) upon completion of the project. The State of Iowa will submit reimbursement directly to the Company upon final approval. Construction for seven of the ten projects has been completed. The remaining projects are scheduled for completion in 2026. Upon completion of each project, the Company will be able to offer broadband service speeds of at least 100-Mbps download and upload to the households within each county. The county will have no ownership right or interest in any of the constructed assets, as the Company will retain full legal and/or beneficial title to the constructed assets. Each county is responsible for preparing and submitting all reporting required in connection with its receipt of the funds, including financial reports, performance reports, and annual reports. The Company will provide each county, information necessary for the county to fulfill its reporting obligations. All grant funds are subject to recapture and repayment for non-compliance. The State of Iowa shall have the right to terminate the grant agreement and to recapture and be reimbursed for any payments made: (i) that are not allowed under applicable laws, rules and regulations; or (ii) that are otherwise inconsistent with the grant agreement, including any unapproved expenditures. The Company fully expects to meet all future construction and service requirements and therefore expects to receive and retain all grant proceeds related to this program. Prior to the Merger, Windstream received $5.0 million in aggregate grant funds under this program and total capital expenditures funded by the grant and Windstream were $10.1 million and $8.7 million, respectively. During the period August 1, 2025 to December 31, 2025, the Company received $0.4 million in grant funds. No capital expenditures were funded by the grant or the Company during the period August 1, 2025 to December 31, 2025. As of December 31, 2025, other current assets included $4.5 million for funding not yet received. There was no funding due to the Company as of December 31, 2024. National Telecommunications and Information Administration (“NTIA”) Broadband Infrastructure Program Grant in Sabine County, Texas (the “County”) – In 2022, Windstream was awarded a grant to support fiber broadband expansion to deliver Internet service with speeds of 25-Mbps download and 3-Mbps upload or greater to approximately 5,400 households. Funding for this broadband project comes from a $12.7 million grant awarded to the County by NTIA. Windstream expected to invest $4.7 million of its own capital to complete the project and agreed to maintain a $4.0 million performance bond until project completion. Grant funds must be used solely for costs directly incurred to complete the broadband project identified in the approved grant application. The Company is responsible for any costs over the grant amount. The Company is required to submit adequate supporting documentation for each expenditure incurred monthly to the County, which in turn, will submit a request for reimbursement directly to NTIA. Upon reimbursement from NTIA, the County will remit the funds to the Company. Construction projects related to this program began in late 2023, with certain projects temporarily on hold pending a permit from the U.S. National Forestry Service. The Company received extensions and expects to complete construction in 2026. Prior to the Merger, Windstream had not received any grant funds under this program and total capital expenditures funded by the grant and the Company were $8.0 million and $4.6 million, respectively. During the period August 1, 2025 to December 31, 2025, the Company had not received any grant funds and total capital expenditures funded by the grant and the Company were $1.3 million and $0.7 million, respectively. As of December 31, 2025, other current assets included $9.3 million for funding not yet received. There was no funding due to the Company as of December 31, 2024. Commonwealth of Pennsylvania’s Broadband Infrastructure Program – In May 2024, Windstream was awarded a grant for $11.9 million to expand its fiber optic network allowing for the delivery of 1 Gbps Internet service to 2,400 locations in three counties in the Commonwealth of Pennsylvania. Windstream expected to contribute approximately $11.3 million in matching funds amounting to an overall project cost of $23.2 million. Construction is required to be completed by December 31, 2026. Reimbursements are milestone based through the completion of the projects and funding must be used solely for costs directly incurred to complete the broadband projects. The Company is responsible for any costs over the grant amount. Prior to the Merger, Windstream had not received any grant funds under this program and total capital expenditures funded by the grant were $4.2 million. Windstream had not funded any capital expenditures prior to the Merger. During the period August 1, 2025 to December 31, 2025, the Company received $0.1 million in grant funds and total capital expenditures funded by the grant were $1.8 million. The Company did not fund any capital expenditures during the period August 1, 2025 to December 31, 2025. As of December 31, 2025, other current assets included $5.9 million for funding not yet received. There was no funding due to the Company as of December 31, 2024. North Carolina Completing Access to Broadband Program – In June 2024, Windstream was awarded a grant for $6.6 million to expand its fiber optic network in three counties by the end of 2026 allowing for the delivery of 1 Gbps Internet service to 2,300 locations. In 2025, Windstream was awarded an additional $21.1 million to further expand its fiber optic network in the same three counties and an additional seven counties providing 1 Gbps Internet service to an additional 7,000 locations. Funding for these grants come from ARPA funds allocated to both the state and the counties. The Company expects to contribute approximately $9.4 million in matching funds amounting to an overall project cost of $37.2 million. Construction is required to be completed by October 31, 2026 and December 31, 2026 for the grants awarded in 2024 and 2025, respectively. Reimbursements will occur at predetermined milestones through the completion of the projects. The Company is responsible for any costs over the grant amount. Prior to the Merger, Windstream had not received any grant funds under this program and total capital expenditures funded by the grant and Windstream were $1.4 million and $0.5 million, respectively. During the period August 1, 2025 to December 31, 2025, the Company did not receive any grant funds and total capital expenditures funded by the grant and the Company were $2.0 million and $0.8 million, respectively. As of December 31, 2025, other current assets included $3.4 million for funding not yet received. There was no funding due to the Company as of December 31, 2024. Alachua County, Florida – In 2025, the Company was awarded $12.6 million to expand its fiber optic network by the end of 2026 allowing for the delivery of 1 Gbps Internet service to approximately 4,900 locations. The Company expects to contribute approximately $10.4 million in matching funds amounting to an overall project cost of $23.0 million. Construction is required to be completed by May 2027. Reimbursements will occur at predetermined milestones through the completion of the projects. The Company is responsible for any costs over the grant amount. Prior to the Merger, Windstream had not received any grant funds under this program or incurred any capital expenditures funded by the grant or Windstream. During the period August 1, 2025 to December 31, 2025, the Company did not receive any grant funds and total capital expenditures funded by the grant and the Company were $1.9 million and $1.6 million, respectively. As of December 31, 2025, other current assets included $1.9 million for funding not yet received. There was no funding due to the Company as of December 31, 2024. Nebraska USF – Subsequent to August 1, 2025, the Company received $7.3 million in funding under a state USF funding program in Nebraska, which was payable to Windstream as of December 31, 2024, as a result of Windstream having completed certain required construction projects as of that date.

Basis of Presentation and Consolidation (Details) - USD ($) $ in Millions	May 03, 2024	Dec. 31, 2025	Dec. 31, 2024
Reclassification [Line Items]
Prepaid expenses		$ (137.6)	$ (16.2)
Other current assets		(156.3)	(18.1)
Accounts receivable, net		(359.0)	(51.5)
Current portion of finance lease obligations		(6.4)	(2.7)
Finance lease obligations		$ (50.7)	(14.5)
Revision of Prior Period, Reclassification, Adjustment
Reclassification [Line Items]
Prepaid expenses			16.2
Other current assets			18.1
Accounts receivable, net			108.9
Accounts receivable, net of current portion			10.5
Accounts receivable, net of non-current portion			98.4
Accounts payable			13.6
Accrued taxes			7.1
Settlement payable			71.8
Dividends payable			0.6
Current portion of finance lease obligations			2.7
Accounts payable, accrued expenses and other liabilities, current			43.8
Intangibles liabilities, net			145.7
Finance lease obligations			14.5
Accounts payable, accrued expenses and other liabilities, non-current			$ 25.2
Common Stock
Reclassification [Line Items]
Exchange of noncontrolling interest (in shares)	0.6029

Property, Plant and Equipment, Net

12 Months Ended

Dec. 31, 2025

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment, Net

Property, Plant and Equipment, Net:

Property, plant and equipment, net consisted of the following as of December 31:


(Millions)	Depreciable Lives	2025		2024
Land	Indefinite	$	65.4	$	30.6
Building and improvements	3 - 40 years	537.1		374.7
Fiber	30 years	6,727.5		5,399.5
Copper	20 years	4,583.4		3,972.8
Poles	30 years	474.7		341.5
Equipment	5 - 7 years	1,898.2		508.8
Corporate assets	3 - 7 years	204.7		16.4
Construction in progress		597.4		36.8
		15,088.4		10,681.1
Less accumulated depreciation		(6,946.5)		(6,471.4)
Property, plant and equipment, net		$	8,141.9	$	4,209.7

Depreciation expense for the years ended December 31, 2025, 2024, and 2023 was $522.8 million, $285.2 million and $280.8 million, respectively.

Goodwill and Intangible Assets and Liabilities - Schedule of Finite-Lived Intangible Assets, Future Amortization Expense (Details) - USD ($) $ in Millions	Dec. 31, 2025	Dec. 31, 2024
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
2026	$ 280.7
2027	230.7
2028	179.1
2029	124.1
2030	74.2
Thereafter	325.6
Total	$ 1,214.4	$ 275.4

Supplemental Cash Flow Information (Tables)

12 Months Ended

Dec. 31, 2025

Supplemental Cash Flow Information [Abstract]

Schedule Cash Paid For Interest Expense And Income Taxes

Supplemental cash flow information was as follows for the years ended December 31:


(Millions)	2025		2024		2023
Interest paid, net of interest capitalized	$	660.7	$	478.0	$	441.5
Income taxes paid, net of refunded (a)	$	5.1	$	2.6	$	1.3
Change in accounts payable and other current liabilities for purchases of property and equipment	$	(26.0)	$	(1.4)	$	(0.3)
Tenant capital improvements	$	287.0	$	263.1	$	167.8
Sale of unconsolidated entity	$	—	$	—	$	40.0

(a)For 2025, total income taxes paid, net of refunded amounts consisted of $1.7 million applicable to state jurisdictions and $3.4 million to local jurisdictions.

Notes and Other Debt, Net

12 Months Ended

Dec. 31, 2025

Long-Term Debt, Unclassified [Abstract]

Notes and Other Debt

Notes and Other Debt, Net:

Notes and other debt were as follows:


	December 31, 2025				December 31, 2024
(Millions)	Principal		Unamortized Premium (Discount) and Deferred Financing Costs		Principal		Unamortized Premium (Discount) and Deferred Financing Costs
Credit Agreements:
Uniti senior secured revolving credit facility - variable rate, due December 30, 2027	$	—	$	(2.9)	$	—	$	(4.3)
Windstream senior secured revolving credit facility - variable rate, due December 30, 2027	315.0		—		—		—
Senior secured Windstream term loan - variable rate, due October 1, 2031 (premium based on imputed interest rate of 9.15%)	500.0		1.2		—		—
Senior secured 2025 term loan - variable rate, due October 6, 2032 (discount based on imputed interest rate of 8.57%)	1,000.0		(23.6)		—		—
Notes:
Senior secured notes - 10.50%, due February 15, 2028 (discount based on imputed interest rate of 10.99%)	—		—		2,900.0		(37.5)
Senior secured notes - 4.75%, due April 15, 2028 (discount based on imputed interest rate of 5.04%)	570.0		(3.6)		570.0		(5.0)
Senior secured notes - 8.25%, due October 1, 2031 (premium based on imputed interest rate of 7.29%)	2,200.0		99.3		—		—
Senior secured notes - 7.50%, due October 15, 2033 (discount based on imputed interest rate of 7.72%)	1,400.0		(17.8)		—		—
Senior unsecured notes - 6.50%, due February 15, 2029 (discount based on imputed interest rate of 6.83%)	1,110.0		(10.3)		1,110.0		(13.1)
Senior unsecured notes - 6.00%, due January 15, 2030 (discount based on imputed interest rate of 6.27%)	700.0		(6.6)		700.0		(8.0)
Senior unsecured notes - 8.625%, due June 15, 2032 (discount based on imputed interest rate of 9.16%)	600.0		(15.6)		—		—
Convertible senior notes - 7.50%, due December 1, 2027 (discount based on imputed interest rate of 8.29%)	306.5		(4.3)		306.5		(6.3)
ABS Notes and Bridge Loan Facility:
ABS Bridge Loan Facility - variable rate, due September 1, 2025 (discount based on imputed interest rate of 10.33%)	—		—		275.0		(3.7)
Series 2025-1:
ABS Notes (Class A-2) - 5.877%, due April 1, 2030 (discount based on imputed interest rate of 6.36%)	426.0		(7.6)		—		—
ABS Notes (Class B) - 6.369%, due April 1, 2030 (discount based on imputed interest rate of 6.86%)	65.0		(1.2)		—		—
ABS Notes (Class C) - 9.018%, due April 1, 2030 (discount based on imputed interest rate of 9.54%)	98.0		(1.8)		—		—
Series 2025-2:
ABS-2 Notes (Class A-2) - 5.177%, due January 20, 2031 (discount based on imputed interest rate of 5.76%)	180.0		(4.5)		—		—
ABS-2 Notes (Class B) - 5.621%, due January 20, 2031 (discount based on imputed interest rate of 6.21%)	28.2		(0.7)		—		—
ABS-2 Notes (Class C) - 7.834%, due January 20, 2031 (discount based on imputed interest rate of 8.45%)	41.8		(1.1)		—		—
Total	$	9,540.5	$	(1.1)	$	5,861.5	$	(77.9)

Notes and other debt, net were as follows:


(Millions)	December 31, 2025		December 31, 2024
Total principal amount	$	9,540.5	$	5,861.5
Unamortized premium (discount) and deferred financing costs	(1.1)		(77.9)
Less current portion of notes and other debt	(10.0)		—
Notes and other debt, net	$	9,529.4	$	5,783.6

Debt Restructuring Subsequent to the Merger

Upon the completion of the Merger, the existing indebtedness of Old Uniti and Windstream remained separate within its respective organizational structure under the Company. On August 4, 2025, among other transactions, Uniti Group LP, the borrower under Old Uniti’s indebtedness, was merged with and into Uniti Services LLC (formerly known as Windstream Services LLC (“Uniti Services”)), the borrower under Windstream’s indebtedness, as part of an internal reorganization (the “Internal Reorganization”). Accordingly, all of the existing indebtedness of Old Uniti and Windstream became obligations of the same borrowing entity, and each subsidiary of Old Uniti that had guaranteed its debt guaranteed the existing debt of Windstream and vice versa. To effectuate this, the obligors to Old Uniti’s and Windstream’s respective indebtedness (the “Obligors”) entered into supplemental indentures, each dated August 4, 2025 (the “Supplemental Indentures”) to the indentures governing Old Uniti’s and Windstream’s outstanding senior notes and joinder agreements, each dated August 4, 2025 (the “Joinder Agreements”) in respect of Old Uniti’s and Windstream’s respective existing credit agreements. In addition, the existing Windstream intercreditor agreement was terminated and the Windstream existing debt parties entered into joinders to the existing Old Uniti intercreditor agreement and certain supplements and amendments to the existing Windstream collateral documents and the Old Uniti collateral documents (such collateral documents, as amended, collectively with the Supplemental Indentures and the Joinder Agreements, the “Reorg Documents”). Under the Supplemental Indentures, the Joinder Agreements and the other Reorg Documents, (x) Uniti Services has succeeded to Uniti Group LP as issuer or borrower, as the case may be, under Old Uniti’s indebtedness and (y) the Obligors of Old Uniti’s indebtedness now guarantee and, if applicable, provide security for, Windstream’s indebtedness, and the Obligors of Windstream’s senior indebtedness now guarantee and, if applicable, provide security, for Old Uniti’s indebtedness. Additionally, in connection with the Internal Reorganization, the Windstream revolving credit facility became pari passu with the other first lien debt of both entities. As a consequence of implementing the Internal Reorganization, the restrictive covenants within the Old Uniti and Windstream indebtedness preventing Old Uniti and Windstream to efficiently operate together have effectively been eliminated.

Senior Secured Credit Facilities

Uniti Credit Agreement

Uniti Services (as successor to Uniti Group LP), CSL Capital, LLC (“CSL Capital”) and Uniti Group Finance 2019 Inc. (“Uniti Group Finance”) (collectively, the “borrowers”) entered into a senior secured credit facility on April 24, 2015 (the credit agreement governing such senior secured credit facility, as amended, the “Uniti Credit Agreement”) consisting of a $500.0 million revolving credit facility with a maturity date of September 24, 2027 (the “Uniti Revolver”), which provides us with the ability to obtain revolving loans as well as swingline loans and letters of credit from time to time. On October 6, 2025, Uniti Services entered into an amendment to the Uniti Credit Agreement to, among other things, extend the maturity date of the Uniti Revolver to December 30, 2027, subject to receipt of customary regulatory approvals.

The Uniti Credit Agreement governing the senior secured credit facility permits the borrowers, subject to customary conditions, to incur (i) new term loan facility borrowings and/or increased commitments under the Uniti Credit Agreement in an unlimited amount, so long as, on a pro forma basis after giving effect to any such borrowings or increases, our consolidated secured leverage ratio, as defined in the Uniti Credit Agreement, does not exceed 4.00 to 1.00 and (ii) other indebtedness, so long as, on a pro forma basis after giving effect to any such indebtedness, our consolidated total net leverage ratio, as defined in the Uniti Credit Agreement, does not exceed 6.50 to 1.00, and if such debt is secured, our consolidated secured net leverage ratio, as defined in the Uniti Credit Agreement, does not exceed 4.00 to 1.00. New term loan facility borrowings and incremental revolving commitments under the Uniti Credit Agreement are uncommitted and the availability thereof will depend on market conditions at the time the borrowers seek to incur such borrowings and/or commitments.

Borrowings under the Uniti Revolver bear interest at a rate equal to either a base rate plus an applicable margin ranging from 2.75% to 3.50% or a SOFR term rate plus an applicable margin ranging from 3.75% to 4.50%, in each case, calculated in a customary manner and determined based on our consolidated secured net leverage ratio. We are required to pay a quarterly commitment fee under the Uniti Revolver equal to 0.50% of the average amount of unused commitments during the applicable quarter (subject to a step-down to 0.40% per annum of the average amount of unused commitments during the applicable quarter upon achievement of a consolidated secured net leverage ratio not to exceed a certain level), as well as quarterly letter of credit fees equal to the product of (A) the applicable margin with respect to SOFR borrowings and (B) the average amount available to be drawn under outstanding letters of credit during such quarter.

During the year ended December 31, 2025, the Company borrowed $429.0 million under the Uniti Revolver and repaid all of these borrowings by the end of the period. Comparatively, during the year ended December 31, 2024, the Company borrowed $130.0 million under the Uniti Revolver and repaid all of these borrowings by the end of the period. There were $0.3 million letters of credit as of December 31, 2025, and accordingly, the amount available for borrowing under the Uniti Revolver was $499.7 million as of December 31, 2025.

The senior secured credit facility under the Uniti Credit Agreement contains certain customary affirmative covenants, as well as certain customary negative covenants that, among other things, restrict, subject to certain exceptions, the ability of the borrowers and their subsidiaries to incur indebtedness, grant liens on their assets, sell assets, make investments, engage in acquisitions, mergers or consolidations, pay certain dividends and other restricted payments. These negative covenants are similar to the negative covenants contained in the indentures that govern our outstanding notes, subject to certain exceptions. The borrowers and their subsidiaries are also required to maintain a consolidated secured net leverage ratio not to exceed 5.00 to 1.00. In addition, the Uniti Credit Agreement contains customary events of default, including a cross-default provision whereby the failure of the borrowers or certain of their subsidiaries to make payments under other debt obligations, or the occurrence of certain events affecting those other borrowing arrangements, could trigger an obligation to repay any amounts outstanding under the Uniti Credit Agreement. In particular, a repayment obligation could be triggered if (i) the borrowers or certain of their subsidiaries fail to make a payment when due of any principal or interest on any other indebtedness aggregating $75.0 million or more, or (ii) an event occurs that causes, or would permit the holders of any other indebtedness aggregating $75.0 million or more to cause, such indebtedness to become due prior to its stated maturity. As of December 31, 2025, the borrowers were in compliance with all of the covenants under the Uniti Credit Agreement.

Windstream Credit Agreement

Uniti Services (formerly Windstream Services, LLC) entered into a senior secured credit facility with JPMorgan Chase Bank, N.A., as administrative agent and collateral agent, and the lenders from time to time party thereto, on September 21, 2020 (as amended, the “Windstream Credit Agreement”), which currently provides for (a) a senior secured revolving credit facility (the “Windstream Revolver”), (b) a senior secured first lien term loan facility that consists of $500.0 million of term loan borrowings (the “Windstream Term Loan”) that matures on October 1, 2031 and (c) a seven-year term loan facility with a principal amount of $1.0 billion (the “2025 Term Loan”) that matures on October 6, 2032. On October 6, 2025, Uniti Services entered into an amendment to the Windstream Credit Agreement to, among other things, (i) subject to receipt of customary regulatory approvals, extend the maturity date of the Windstream Revolver to December 30, 2027 and (ii) provide for the 2025 Term Loan. The Windstream Revolver will have $475.0 million of capacity through January 23, 2027 and $425.0 million of capacity through December 30, 2027.

Borrowings under the Windstream Revolver bear interest at a rate equal to either a base rate plus an applicable margin ranging from 2.75% to 3.50% or a SOFR term rate plus an applicable margin ranging from 3.75% to 4.50%, in each case, calculated in a customary manner and determined based on our consolidated total senior secured leverage ratio. The Windstream Term Loan bears interest based on a floating rate plus a margin (which, at Uniti Services’ election, may be the Base Rate plus 3.75% or the Adjusted Term SOFR Rate plus 4.75% (each as defined in the Windstream Credit Agreement, provided that the Adjusted Term SOFR Rate “floor” shall be 0%). The 2025 Term Loan bears interest based on a floating rate plus a margin (which, at Uniti Services’ election, may be the Base Rate plus 3.00% or the Adjusted Term SOFR Rate plus 4.00% (each as defined in the existing Windstream Credit Agreement, provided that the Adjusted Term SOFR Rate “floor” shall be 0%)).

Each of the Windstream Term Loan and the 2025 Term Loan is subject to mandatory prepayment and reduction in an amount equal to (a) 100% of the net cash proceeds of non-ordinary course asset dispositions or casualty events (with step-downs to (1) 50.0% if the consolidated first lien secured leverage ratio would be less than or equal to 1.50 to 1.00 but greater than 1.00 to 1.00, or (2) 0% if the consolidated first lien senior secured leverage ratio would be less than or equal to 1.00 to 1.00, subject to the right to reinvest such proceeds within a specified period of time and certain other exceptions and (b) 100% of the net cash proceeds received from the incurrence of any certain indebtedness not expressly permitted under the Windstream Credit Agreement.

Voluntary prepayments of borrowings outstanding under the Windstream Credit Agreement are currently permitted at any time without premium or penalty; provided that any voluntary prepayment, refinancing or repricing of the 2025 Term Loan in connection with certain repricing transactions that occur prior to the six-month anniversary of the closing of the 2025 Term Loan shall be subject to a prepayment premium of 1.00% of the principal amount of the term loans so prepaid, refinanced or repriced.

The variable interest rate on the Windstream Term Loan ranged from 8.57% to 9.21%, and the weighted average rate on amounts outstanding on the Windstream Term Loan was 9.10% for the period August 1, 2025 to December 31, 2025. The variable interest rate on the 2025 Term Loan ranged from 7.72% to 8.11%, and the weighted average rate on amounts outstanding on the 2025 Term Loan was 7.98% between the time of initial incurrence and December 31, 2025.

During the period August 1, 2025 to December 31, 2025, the Company borrowed $460.0 million under the Windstream Revolver and repaid $180.0 million of these borrowings by the end of the period. Considering letters of credit of $117.6 million, the amount available for borrowing under the Windstream Revolver was $42.4 million as of December 31, 2025.

The variable interest rate on borrowings outstanding under the Windstream Revolver ranged from 7.82% to 10.75%, and the weighted average rate on amounts outstanding was 8.45% for the period August 1, 2025 to December 31, 2025.

The Windstream Credit Agreement includes customary negative covenants, including covenants limiting the ability of Uniti Services and its restricted subsidiaries to, among other things, incur additional indebtedness, create liens on assets, make investments, loans or advances, engage in mergers, consolidations, sales of assets and acquisitions, pay dividends and distributions and make payments in respect of certain material payment subordinated indebtedness, in each case subject to customary exceptions. The Windstream Credit Agreement also includes customary representations and warranties and affirmative covenants. The Windstream Credit Agreement includes a financial covenant requiring maintenance of a consolidated total senior secured leverage ratio of no less than 5.00 to 1.00.

Events of default under the Windstream Credit Agreement include nonpayment of principal, interest or other amounts when due, violation of certain covenants, inaccuracy of representations or warranties, certain defaults under other material debt, certain bankruptcy or insolvency events, certain material judgments, invalidity of collateral documents, change of control, certain regulatory events having a material adverse effect, and certain Employee Retirement Income Security Act (“ERISA”) events, in each case subject to customary threshold, notice and grace period provisions.

Guarantees and Security under Uniti Credit Agreement and Windstream Credit Agreement

All obligations under the senior secured credit facilities under the Uniti Credit Agreement and the Windstream Credit Agreement are unconditionally guaranteed by each of Uniti Group Inc. and Uniti Group LLC on a senior unsecured basis and by certain wholly owned subsidiaries of Uniti Services (the “subsidiary guarantors”) on a senior secured basis. All obligations under the Uniti Credit Agreement and the Windstream Credit Agreement, and the guarantees of those obligations, are secured, subject to certain exceptions, on a first priority basis, by substantially all of the assets of the borrowers and the subsidiary guarantors, including a pledge of all of the capital stock of our subsidiaries directly held by the borrowers and the subsidiary guarantors under the senior secured credit facilities (which pledge, in the case of the capital stock of any foreign subsidiary, is limited to 65% of the voting capital stock and 100% of the non-voting stock of such first tier foreign subsidiary). The liens on the collateral securing the obligations under the senior secured credit facilities are subject to an intercreditor agreement between the collateral agent for the senior secured credit facility under the Uniti Credit Agreement, the collateral agent for the senior secured credit facility under the Windstream Credit Agreement, and the collateral agents for the secured notes, and acknowledged by the borrowers and the subsidiary guarantors.

Senior Notes

Secured Notes

On April 20, 2021, Uniti Services (as successor to Uniti Group LP), Uniti Group Finance and CSL Capital issued $570.0 million aggregate principal amount of 4.75% senior secured notes due 2028 (the “4.75% secured notes”) pursuant to an indenture with Deutsche Bank Trust Company Americas, as trustee and collateral agent (the “4.75% secured notes indenture”).

On February 14, 2023, Uniti Services, Uniti Fiber Holdings Inc. (“Uniti Fiber Holdings”), Uniti Group Finance and CSL Capital issued $2.6 billion aggregate principal amount of 10.50% senior secured notes due February 2028 (the “initial 10.50% secured notes”) under an indenture among such issuers, the guarantors party thereto and Deutsche Bank Trust Company Americas, as trustee and collateral agent (the “10.50% secured notes indenture”). On May 17, 2024, such issuers issued a $300.0 million aggregate principal amount of 10.50% senior secured notes due February 2028 which, pursuant to the terms of the indenture governing such notes, were mandatorily exchanged for 10.50% secured notes issued as “additional notes” under the 10.50% secured notes indenture (the “additional 10.50% secured notes” and, together with the initial 10.50% secured notes, the “10.50% secured notes”). The additional 10.50% secured notes formed part of the same series as the initial 10.50% secured notes issued under the 10.50% secured notes indenture and have the same CUSIP numbers as, and are fungible with, the initial 10.50% secured notes. In February 2025, the Company used a portion of the net proceeds from the offering of ABS Notes to redeem $125.0 million of the then outstanding 10.50% secured notes. Uniti Services used the proceeds from the offering of the 7.50% senior secured notes due 2033, which it issued on October 6, 2025, together with the proceeds from the 2025 Term Loan to fund the redemption in full of the 10.50% secured notes.

On October 4, 2024, Uniti Services (formerly Windstream Services) and Windstream Escrow Finance Corp., as co-issuers, issued $800.0 million of 8.25% senior secured notes due 2031 (the “8.25% secured notes”) pursuant to an indenture with Wilmington Trust, National Association, as trustee and notes collateral agent (the “8.25% secured notes indenture”). On December 23, 2024, Uniti Services and Windstream Escrow Finance Corp., as co-issuers, issued $1.4 billion aggregate principal amount of 8.25% secured notes as “additional notes” under the 8.25% secured notes indenture.

On October 6, 2025, Uniti Services issued $1.4 billion aggregate principal amount of 7.50% senior secured notes due 2033 (the “7.50% secured notes”) pursuant to an indenture, dated as of October 6, 2025 (the “7.50% secured notes indenture” and, together with the 4.75% secured notes indenture and the 8.25% secured notes indenture, the “secured notes indentures”), among Uniti Services, as issuer, the guarantors named therein and Deutsche Bank Trust Company Americas, as trustee and as collateral agent. The 4.75% secured notes, the 8.25% secured notes and the 7.50% secured notes are collectively referred to as the “existing secured notes”.

We may redeem some or all of the existing secured notes at certain fixed redemption prices expressed as percentages of the principal amount, plus accrued and unpaid interest, as set forth in the secured notes indentures. The issuers and guarantors of the existing secured notes also either issue or guarantee our other senior notes.

The secured notes indentures contain customary high yield covenants limiting our ability to incur or guarantee additional indebtedness; incur or guarantee secured indebtedness; pay dividends or distributions on, or redeem or repurchase, capital stock; make certain investments or other restricted payments; sell assets; enter into transactions with affiliates; merge or consolidate or sell all or substantially all of our assets; and create restrictions on our ability to pay dividends. The covenants are subject to a number of important and significant limitations, qualifications and exceptions. The secured notes indentures also contain customary events of default.

Senior Unsecured Notes

On February 2, 2021, Uniti Services, Uniti Group Finance and CSL Capital issued $1.1 billion aggregate principal amount of unsecured 6.50% Senior Notes due 2029 (the “6.50% unsecured notes”) pursuant to an indenture with Deutsche Bank Trust Company Americas, as trustee (the “6.50% senior notes indenture”).

On October 13, 2021, Uniti Services, Uniti Group Finance, Uniti Fiber Holdings and CSL Capital issued $700.0 million aggregate principal amount of unsecured 6.00% Senior Notes due 2030 (the “6.00% unsecured notes”) pursuant to an indenture with Deutsche Bank Trust Company Americas, as trustee (the “6.00% senior notes indenture”).

On June 24, 2025, Uniti Services, Uniti Group Finance, Uniti Fiber Holdings and CSL Capital issued $600.0 million aggregate principal amount of unsecured 8.625% Senior Notes due 2032 (the “8.625% unsecured notes” and, together with the 6.00% unsecured notes and the 6.50% unsecured notes, the “existing unsecured notes”) pursuant to an indenture with Deutsche Bank Trust Company Americas, as trustee (the “8.625% senior notes indenture” and, together with the 6.00% senior notes indenture and the 6.50% senior notes indenture, the “unsecured notes indentures”).

We may redeem some or all of the existing unsecured notes at certain fixed redemption prices expressed as percentages of the principal amount, plus accrued and unpaid interest, as set forth in the unsecured notes indentures. The issuers and guarantors of the existing unsecured notes also either issue or guarantee our existing secured notes.

The unsecured notes indentures contain customary high yield covenants limiting our ability to incur or guarantee additional indebtedness; incur or guarantee secured indebtedness; pay dividends or distributions on, or redeem or repurchase, capital stock; make certain investments or other restricted payments; sell assets; enter into transactions with affiliates; merge or consolidate or sell all or substantially all of our assets; and create restrictions on our ability to pay dividends. The covenants are subject to a number of important and significant limitations, qualifications and exceptions. The unsecured notes indentures also contain customary events of default.

7.50% Convertible Senior Notes due 2027

On December 12, 2022, Uniti Group LLC (formerly Uniti Group Inc.) issued $300.0 million aggregate principal amount of its 7.50% convertible senior notes due 2027 (the “original 2027 convertible notes”). On December 23, 2022, Uniti Group LLC issued an additional $6.5 million aggregate principal amount of its 7.50% convertible senior notes due 2027 pursuant to the initial purchasers’ partial exercise of their option to purchase additional 7.50% convertible senior notes due 2027 (the “additional 2027 convertible notes” and, together with the original 2027 convertible notes, the “2027 convertible notes”). Uniti Group LLC issued the 2027 convertible notes pursuant to an indenture, dated as of December 12, 2022, among Uniti Group LLC, the guarantors party thereto, and Deutsche Bank Trust Company Americas, as trustee (the “2027 convertible notes trustee”), as amended by the first supplemental indenture, dated as of August 14, 2023, by and among Uniti Group LLC, the guarantors party thereto and the 2027 convertible notes trustee, and the second supplemental indenture, dated as of August 4, 2025, by and among Uniti Group LLC, the Company, the guarantors party thereto and the 2027 convertible notes trustee (the “2027 convertible notes indenture”). The 2027 convertible notes are senior unsecured notes and are guaranteed by the Company and each of Uniti Services’ subsidiaries that is an issuer, obligor or guarantor under the existing notes and the notes offered hereby. The 2027 convertible notes will mature on December 1, 2027, unless earlier converted, redeemed or repurchased.

Prior to the close of business on the business day immediately preceding September 1, 2027, the 2027 convertible notes are convertible only upon satisfaction of certain conditions and during certain periods described in the 2027 convertible notes indenture, and thereafter, the 2027 convertible notes are convertible at any time until the close of business on the second scheduled trading day immediately preceding the maturity date. The 2027 convertible notes are convertible on the terms set forth in the 2027 convertible notes indenture into cash, shares of the Company’s common stock, or a combination thereof, at Uniti Group LLC’s election, subject to limitations under the Uniti Credit Agreement. The conversion rate is initially 82.7023 shares of the Company’s common stock per $1,000 principal amount of 2027 convertible notes (equivalent to an initial conversion price of approximately $12.09 per share of the Company’s common stock). The conversion rate is subject to adjustment in some circumstances as described in the 2027 convertible notes indenture. In addition, following certain corporate events relating to Uniti that occur prior to the maturity date or Uniti Group LLC’s delivery of a notice of redemption, Uniti Group LLC will increase, in certain circumstances, the conversion rate for a holder who elects to convert its 2027 convertible notes in connection with such corporate event or notice of redemption, as the case may be.

If the Company undergoes a fundamental change (as defined in the 2027 convertible notes indenture), subject to certain conditions, holders may require Uniti Group LLC to repurchase for cash all or part of their 2027 convertible notes at a repurchase price equal to 100% of the principal amount of the 2027 convertible notes to be repurchased, plus accrued and unpaid interest, if any, to, but not including, the fundamental change repurchase date.

Starting on December 8, 2025 and ending prior to the 42nd scheduled trading day immediately preceding the maturity date, if the last reported sale price per share of the Company’s common stock has been at least 130% of the conversion price for the 2027 convertible notes for certain specified periods, Uniti Group LLC may, subject to a partial redemption limitation, redeem all or a portion of the 2027 convertible notes at a cash redemption price equal to 100% of the principal amount of the 2027 convertible notes to be redeemed plus accrued and unpaid interest to, but not including, the redemption date.

Asset-Backed Notes and Bridge Loan Facility

On February 23, 2024, Uniti Fiber Bridge Borrower LLC (the “ABS Bridge Borrower”), Uniti Fiber Bridge HoldCo LLC and Uniti Fiber GulfCo LLC (together, the “ABS Bridge Loan Parties”), each an indirect, bankruptcy-remote subsidiary of the Company, entered into a bridge loan and security agreement, dated as of February 23, 2024 (the “ABS Loan Agreement”). The ABS Loan Agreement provided for a secured, multi-draw term loan facility of up to $350.0 million (the “ABS Loan Facility”).

On February 3, 2025, the ABS Notes Issuers issued $589.0 million aggregate principal amount of secured fiber network revenue term notes, consisting of $426.0 million 5.88% Series 2025-1, Class A-2 term notes, $65.0 million 6.37% Series 2025-1, Class B term notes and $98.0 million 9.02% Series 2025-1, Class C term notes, each with an anticipated repayment date in April 2030 (collectively, the "ABS 2025-1 Notes"). The ABS 2025-1 Notes were issued as part of a securitization transaction, pursuant to which certain of the Company’s fiber network assets and related customer contracts in the State of Florida and the Gulf Coast region of Louisiana, Mississippi and Alabama, including the assets of the ABS Bridge Loan Parties that secured the ABS Loan Facility, were contributed to the ABS Notes Issuers, Uniti Fiber GulfCo LLC and Uniti Fiber TRS AssetCo LLC (collectively, the “ABS Notes Obligors”). The cash flow from these contributed assets will be used to service the obligations under the ABS 2025-1 Notes. The ABS 2025-1 Notes were issued pursuant to an indenture, dated as of February 3, 2025 (the "Initial ABS Base Indenture"), as supplemented by a Series 2025-1 Supplement thereto, dated as of February 3, 2025, in each case by and among the ABS Notes Obligors and Wilmington Trust, National Association, as indenture trustee. On February 3, 2025, the Company used a portion of the net proceeds from the offering of the ABS Notes to repay and terminate the ABS Loan Facility.

On October 24, 2025, the ABS Notes Issuers issued $250.0 million aggregate principal amount of secured fiber network revenue term notes, consisting of $180.0 million 5.177% Series 2025-2, Class A-2 term notes, $28.2 million 5.62% Series 2025-2, Class B term notes and $41.8 million 7.83% Series 2025-2, Class C term notes (collectively, the “ABS 2025-2 Notes” and, together with the ABS 2025-1 Notes, the “ABS Notes”), each with an anticipated repayment date in January 2031. The ABS 2025-2 Notes were issued pursuant to the Initial ABS Base Indenture, as amended and restated on October 24, 2025 (as so amended and restated, the “ABS Base Indenture”), as supplemented by a Series 2025-2 Supplement thereto, dated as of October 24, 2025, in each case by and among the ABS Notes Obligors and Wilmington Trust, National Association, as indenture trustee.

In connection with the issuance of the ABS 2025-2 Notes, the ABS Base Indenture, as supplemented by the Series 2025-2 Supplement, also permits up to $75.0 million of Series 2052-2, Class A-1 variable funding notes (the “Class A-1 Variable Funding Notes”) issued by the ABS Notes Issuers. Drawings and the other terms related to the Class A-1 Variable Funding Notes are governed by the ABS Base Indenture, as supplemented by the Series 2025-2 Supplement, and a Class A-1-V Note Purchase Agreement, dated as of October 24, 2025 (the “VFN Purchase Agreement”), among the ABS Notes Obligors, Uniti Fiber Holdings Inc., as manager of the securitization program, certain committed note purchasers, conduit investors and funding agents, and Barclays Bank PLC, as the administrative agent. As of December 31, 2025, there was no aggregate principal amount of Class A-1 Variable Funding Notes outstanding.

The ABS Notes and the Class A-1 Variable Funding Notes are obligations only of the ABS Notes Obligors pursuant to the ABS Base Indenture, as supplemented. Pursuant to the ABS Base Indenture, the ABS Notes and the Class A-1 Variable Funding Notes are guaranteed by the ABS Notes Obligors and each of the ABS Notes Issuer’s respective direct parent entity companies (each, a “Holdco Guarantor”), and such guarantees, the ABS Notes and the Class A-1 Variable Funding Notes are secured by security interests in the equity interests in each of the ABS Notes Issuers and substantially all of the assets of the ABS Notes Issuers and the other ABS Notes Obligors, which assets are primarily the fiber network assets and related customer contracts in the States of Alabama, Florida, Georgia, Louisiana, Mississippi and South Carolina that have been sold or contributed to the ABS Notes Obligors by the non-securitization subsidiaries of the Company and the revenue collections and other proceeds thereof. Neither the Company nor any subsidiary of the Company, other than the ABS Notes Obligors and the Holdco Guarantors (all of which are unrestricted subsidiaries under the Company’s other debt agreements), guarantee or liable in any way for the obligations of the ABS Notes Obligors under the ABS Base Indenture, the ABS Notes or the Class A-1 Variable Funding Notes, and neither the Holdco Guarantors, the ABS Notes Issuers nor any of the other ABS Notes Obligors guarantee or be liable in any way for the obligations of the Company or its subsidiaries under the Company’s other debt agreements.

The ABS Notes and the Class A-1 Variable Funding Notes are subject to a series of customary covenants and restrictions. These covenants and restrictions include (i) that the ABS Notes Issuers maintain a liquidity reserve account to be used to make required payments in respect of the ABS Notes and the Class A-1 Variable Funding Notes, (ii) provisions relating to optional and mandatory prepayments, including specified make-whole payments in the case of certain optional prepayments, and (iii) covenants relating to recordkeeping, access to information and similar matters. The ABS Notes and the Class A-1 Variable Funding Notes are also subject to rapid amortization in the event of a failure to maintain a stated debt service coverage ratio. A rapid amortization may be cured once the debt service coverage ratio exceeds a certain threshold for a certain period of time, upon which, regular amortization, if any, will resume. The ABS Notes and the Class A-1 Variable Funding Notes are also subject to certain customary events of default, including events relating to non-payment of required interest, principal or other amounts due, failure to comply with covenants within certain time frames, certain bankruptcy events, breaches of specified representations and warranties, failure of security interests to be effective and certain judgments.

Deferred Financing Costs

Deferred financing costs were incurred in connection with the issuance of the notes and other debt obligations. These costs are deferred and amortized using the effective interest method over the term of the related indebtedness and are included in interest expense in our consolidated statements of income. For the years ended December 31, 2025, 2024, and 2023, we recognized $21.8 million, $23.8 million, and $18.1 million of non-cash interest expense, respectively, related to the amortization of deferred financing costs.

Loss on Extinguishment of Debt

In connection with the October 2025 refinancing transactions, the Company incurred $32.4 million in arrangement, legal and other third-party fees and paid a redemption premium to holders of the 10.50% secured notes of $119.5 million. At the time of completing the refinancing transactions, there were $23.1 million in unamortized discount and debt issuance costs related to the 10.50% secured notes.

Based on an analysis of participating creditors, the Company concluded that the refinancing transactions should be accounted for as a debt extinguishment. Accordingly, the Company recognized a pretax loss on the extinguishment of debt totaling $142.6 million, consisting of the write-off of the redemption premium of $119.5 million and the write-off of the unamortized discount and debt issuance costs of $23.1 million. The $32.4 million in arrangement, legal and other third-party fees were capitalized and amortized over the terms of the new debt obligations in accordance with the extinguishment method of accounting.

As previously discussed above, in February 2025, Old Uniti used a portion of the net proceeds from the offering of the ABS Notes to repay and terminate the ABS Loan Facility and to redeem $125.0 million aggregate principal amount of its 10.50% secured notes. In June 2025, Old Uniti had also used a portion of the net proceeds from the offering of the 8.625% unsecured notes to fund the partial redemption of $500.0 million aggregate principal amount of the 10.50% secured notes, including related premiums, fees and expenses. In connection with these transactions, Old Uniti recognized aggregate pretax losses on the partial extinguishment of the 10.50% secured notes of $37.2 million, which included $6.3 million for the write off of the unamortized discount and deferred financing costs and $30.9 million for the redemption premiums, and a pretax loss on the extinguishment of the ABS Loan Facility of $3.2 million, consisting of the write off of the unamortized discount and deferred financing costs.

In 2023, Uniti Group LP, CSL Capital, LLC, Uniti Group Finance 2019 Inc. and Uniti Fiber Holdings issued $2.6 billion aggregate principal amount of initial 10.50% senior notes and used the net proceeds from the offering to fund the redemption in full of all outstanding $2.25 billion 7.88% senior secured notes due 2025 (the “2025 Secured Notes”). As a result, Old Uniti recorded a pretax loss on the extinguishment of debt of $32.3 million related to the repayment of the 2025 Secured Notes, which included $10.3 million attributable to the write off of the unamortized discount and deferred financing costs and the write-off of the call premium of $22.0 million. During 2023, Old Uniti also repurchased approximately $15.0 million of its 4.00% exchangeable notes due June 15, 2024 (the “exchangeable notes”) for total cash consideration of $13.7 million. In connection with the repurchase, Old Uniti recorded a pretax gain on extinguishment of debt of $1.1 million, which included $0.1 million attributable to the write off of the unamortized discount and deferred financing costs.

Interest Expense, Net

Interest expense, net was as follows for the years ended December 31:


(Millions)	2025		2024		2023
Senior secured notes	$	381.5	$	321.1	$	296.3
Senior unsecured notes	164.0		139.4		142.2
Senior secured revolving credit facility - variable rate	10.8		7.2		14.1
ABS Notes and Bridge Loan Facility	39.4		18.9		—
Interest rate cap	0.7		1.5		—
Interest rate swaps	(2.3)		—		—
Amortization of deferred financing costs and debt premium/discount	14.3		22.7		18.5
Accretion of settlement payable	1.7		6.2		10.5
Capitalized interest	(9.7)		(2.8)		(1.3)
Other	2.4		(2.8)		0.9
Total interest expense, net	$	602.8	$	511.4	$	481.2

Derivatives - Schedule of Offsetting Assets (Details) - Interest rate swap: $ in Millions	Dec. 31, 2025 USD ($)
Derivative [Line Items]
Gross Amount of Assets Presented in the Consolidated Balance Sheets	$ 0.3
Gross Amount Not Offset in the Condensed Consolidated Balance Sheets, Financial Instruments	(0.3)
Gross Amount Not Offset in the Condensed Consolidated Balance Sheets, Cash Collateral Received	0.0
Net Amount	$ 0.0

- Definition

Fair value, after effect of master netting arrangement, of financial asset or other contract with one or more underlyings, notional amount or payment provision or both, and contract can be net settled by means outside contract or delivery of asset. Includes derivative subject to master netting arrangement not elected or qualified to offset. Excludes derivative not subject to master netting arrangement or similar agreement.

+ References + Details

- Definition

Amount of obligation to return cash collateral under master netting arrangements that have not been offset against derivative assets.

+ References + Details

Stock-Based Compensation - Schedule of Unvested Restricted Stock Awards (Details) - Restricted Awards - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Shares
Unvested, beginning balance (in shares)	4,005,300
Granted (in shares)	2,137,600	3,385,200	907,900
Forfeited (in shares)	(61,100)
Vested (in shares)	(839,700)
Unvested, ending balance (in shares)	5,242,100	4,005,300
Weighted Average Fair Value at Grant Date
Unvested balance (in dollars per share)	$ 7.78
Grant (in dollars per share)	8.39	$ 7.17	$ 9.59
Forfeited (in dollars per share)	6.42
Vested (in dollars per share)	9.27
Unvested balance (in dollars per share)	$ 7.56	$ 7.78
Aggregate Intrinsic Value
Unvested balance	$ 36,747
Aggregate intrinsic value (in dollars per share)	$ 7.01

Derivatives (Tables)

12 Months Ended

Dec. 31, 2025

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments of Interest Rate Swap Agreements

Set forth below is information related to the Company’s cash flow hedges for the years ended December 31:


(Millions)	2025		2024
Cash flow hedges, measured at fair value:
Other current assets	$	0.3	$	0.1
Other current liabilities	$	1.7	$	—
Other liabilities	$	5.5	$	—
Accumulated other comprehensive loss	$	(2.5)	$	(0.6)

Derivative Instruments, Gain (Loss)

Changes in derivative instruments were as follows for the years ended December 31:


(Millions)	2025		2024
Cash flow hedges:
Changes in fair value, net of tax	$	(0.2)	$	(0.6)
Reclassification of unrealized gains, net of tax	$	(1.7)	$	—

Schedule of Offsetting Assets

The following table presents the Company’s derivative assets subject to an enforceable master netting arrangement as of December 31, 2025.


	Gross Amount of Assets Presented in the Consolidated Balance Sheets		Gross Amount Not Offset in the Consolidated Balance Sheets
(Millions)			Financial Instruments		Cash Collateral Received		Net Amount
December 31, 2025:
Interest rate swaps	$	0.3	$	(0.3)	$	—	$	—

Schedule of Offsetting Liabilities

Information pertaining to derivative liabilities was as follows:


	Gross Amount of Liabilities Presented in the Consolidated Balance Sheets		Gross Amount Not Offset in the Consolidated Balance Sheets
Millions			Financial Instruments		Cash Collateral Received		Net Amount
December 31, 2025:
Interest rate swaps	$	7.2	$	(0.3)	$	—	$	6.9

Segments - Schedule of Reconciliation of Total Segment Revenues and Sales to Total Consolidated Revenues and Sales (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Segment Reporting Information [Line Items]
Total consolidated revenues and sales	$ 2,234.5	$ 1,166.9	$ 1,149.8
Operating Segments
Segment Reporting Information [Line Items]
Total consolidated revenues and sales	2,314.6	1,166.9	1,149.8
Intersegment Eliminations
Segment Reporting Information [Line Items]
Total consolidated revenues and sales	$ 80.1	$ 0.0	$ 0.0

- Definition

Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).

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+ Details

Property, Plant and Equipment, Net - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 522.8	$ 285.2	$ 280.8

Schedule I – Condensed Financial Information of The Registrant (Parent Company) - Condensed Balance Sheets (Details) - USD ($) $ / shares in Units, $ in Millions	Dec. 31, 2025	Dec. 31, 2024
Assets:
Cash and cash equivalents	$ 53.5	$ 155.6
Total current assets	831.0	269.6
Total assets	12,036.7	5,282.1
Liabilities:
Other current liabilities	389.4	118.9
Total current liabilities	1,123.9	380.7
Notes and other debt, net	9,529.4	5,783.6
Deferred income tax liabilities, net	17.7	0.0
Total liabilities	11,656.3	7,734.0
Shareholders' equity (deficit):
Common stock, $0.0001 par value, 5,550.0 million shares authorized, 239.0 million shares issued and outstanding at December 31, 2025 and 500.0 million shares authorized, 143.2 million shares issued and outstanding at December 31, 2024	0.0	0.0
Additional paid-in capital	2,790.1	1,236.0
Accumulated other comprehensive loss	(1.9)	(0.6)
Distributions in excess of accumulated earnings	(2,407.9)	(3,687.8)
Total Uniti shareholders' equity (deficit)	380.3	(2,452.4)
Total liabilities and shareholders' equity	$ 12,036.7	$ 5,282.1
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	5,550,000,000	500,000,000.0
Common stock, shares issued (in shares)	234,000,000.0	143,200,000
Common stock, shares outstanding (in shares)	234,000,000.0	143,200,000
New Uniti Preferred Stock
Shareholders' equity (deficit):
Preferred stock issued	$ 0.0	$ 0.0
Preferred stock, par value (in dollars per share)	$ 0.0001
Preferred stock, shares issued (in shares)	600,000
Preferred stock, shares outstanding (in shares)	600,000
Old Uniti Preferred Stock
Shareholders' equity (deficit):
Preferred stock issued	$ 0.0	$ 0.0
Preferred stock, par value (in dollars per share)		$ 0.0001
Preferred stock, shares issued (in shares)		0
Preferred stock, shares authorized (in shares)		50,000,000.0
Preferred stock, shares outstanding (in shares)		0
Uniti Group Inc.
Assets:
Cash and cash equivalents	0.0	$ 0.9
Total current assets	0.0	0.9
Investment in consolidated subsidiaries	393.6	0.0
Total assets	393.6	0.9
Liabilities:
Accrued taxes	6.2	6.5
Other current liabilities	3.7	0.7
Total current liabilities	9.9	7.2
Notes and other debt, net	0.0	300.2
Deferred income tax liabilities, net	3.4	0.0
Cash distributions and losses in excess of investments in consolidated subsidiaries	0.0	2,145.9
Total liabilities	13.3	2,453.3
Shareholders' equity (deficit):
Common stock, $0.0001 par value, 5,550.0 million shares authorized, 239.0 million shares issued and outstanding at December 31, 2025 and 500.0 million shares authorized, 143.2 million shares issued and outstanding at December 31, 2024	0.0	0.0
Additional paid-in capital	2,790.1	1,236.0
Accumulated other comprehensive loss	(1.9)	(0.6)
Distributions in excess of accumulated earnings	2,407.9	3,687.8
Total Uniti shareholders' equity (deficit)	380.3	(2,452.4)
Total liabilities and shareholders' equity	$ 393.6	$ 0.9
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	5,550,000,000	500,000,000.0
Common stock, shares issued (in shares)	234,000,000.0	143,200,000
Common stock, shares outstanding (in shares)	234,000,000.0	143,200,000
Uniti Group Inc. \| New Uniti Preferred Stock
Shareholders' equity (deficit):
Preferred stock issued	$ 0.0	$ 0.0
Preferred stock, par value (in dollars per share)	$ 0.0001
Preferred stock, shares issued (in shares)	600,000
Preferred stock, shares outstanding (in shares)	600,000
Uniti Group Inc. \| Old Uniti Preferred Stock
Shareholders' equity (deficit):
Preferred stock issued	$ 0.0	$ 0.0
Preferred stock, par value (in dollars per share)		$ 0.0001
Preferred stock, shares authorized (in shares)		50,000,000.0

Employee Benefit Plan - Defined Benefit Plan, Assumptions (Details)		5 Months Ended	12 Months Ended
	Aug. 01, 2025	Dec. 31, 2025	Dec. 31, 2025
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract]
Discount rate	5.64%
Expected return on plan assets	7.75%		7.75%
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract]
Rate of compensation increase in 2026		4.00%	4.00%
Rate of compensation increase, thereafter		3.00%	3.00%
Pension Plan
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Net Periodic Benefit Cost [Abstract]
Discount rate		5.60%
Expected return on plan assets		7.75%
Rate of compensation increase		3.30%
Defined Benefit Plan, Weighted Average Assumptions Used in Calculating Benefit Obligation [Abstract]
Discount rate		5.47%	5.47%
Expected return on plan assets		7.75%	7.75%

Segments - Schedule of Capital Expenditures by Segment (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Segment Reporting Information [Line Items]
Total	$ 787.8	$ 354.8	$ 417.0
Operating Segments
Segment Reporting Information [Line Items]
Total	756.3	354.7	417.0
Corporate
Segment Reporting Information [Line Items]
Total	31.5	0.1	0.0
Kinetic \| Operating Segments
Segment Reporting Information [Line Items]
Total	386.0	0.0	0.0
Uniti Solutions \| Operating Segments
Segment Reporting Information [Line Items]
Total	13.0	0.0	0.0
Fiber Infrastructure \| Operating Segments
Segment Reporting Information [Line Items]
Total	$ 357.3	$ 354.7	$ 417.0

Income Taxes - Schedule of Components of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2025	Dec. 31, 2024
Deferred income tax assets:
Deferred revenue	$ 53.4	$ 35.9
Stock-based compensation	5.2	0.8
Asset retirement obligation	0.0	1.7
Excess business interest expense	251.5	35.1
Lease asset liability	96.7	12.0
Settlement obligation	0.0	0.5
Debt discount and interest expense	32.2	0.1
Other intangible amortization	15.4	20.9
Postretirement and other employee benefits	21.8	0.0
Property, plant and equipment	127.8	0.0
Other	62.4	3.9
Net operating loss carryforwards	326.4	169.5
Deferred income tax assets, gross	992.8	280.4
Valuation allowance	(638.3)	0.0
Deferred income tax assets	354.5	280.4
Deferred income tax liabilities:
Property, plant and equipment	0.0	(100.3)
Goodwill and other intangible assets	(266.5)	(34.6)
Right of use asset	(100.4)	(13.5)
Other	(5.3)	(4.0)
Deferred income tax liabilities	(372.2)	(152.4)
Deferred income tax (liability) asset, net	$ (17.7)
Deferred income tax (liability) asset, net		$ 128.0

Leases

12 Months Ended

Dec. 31, 2025

Leases [Abstract]

Leases

Leases:

As previously discussed in Note 4, as of August 1, 2025, preexisting relationships between Old Uniti and Windstream, were considered effectively settled for accounting purposes and the related transactions and balances became intercompany transactions eliminated in the preparation of the Company’s post-Merger consolidated financial statements. These preexisting relationships included the Windstream Leases, the asset purchase agreement and various other leasing and supplier arrangements between Old Uniti and Windstream. The elimination of the intercompany transactions resulted in reductions in operating lease revenue, operating lease right-of-use assets and operating lease obligations discussed below.

Lessor Arrangements

Certain service offerings to customers include equipment leases. The Company also leases its network facilities, including colocation space to other service providers and enters into arrangements with third parties to lease unused or underutilized portions of its network. These leases meet the criteria for operating lease classification. These leases have initial lease terms ranging from less than one year to 35 years, most of which include options to extend or renew the leases for less than one year to 20 years (based on the satisfaction of certain conditions as defined in the lease agreements), and some of which may include options to terminate the leases within one to six months. Certain lease agreements contain provisions for future rent increases. Payments due under the lease contracts include fixed payments plus, for some of the leases, variable payments.

Operating lease income was as follows for the years ended December 31:


(Millions)	2025		2024		2023
Lease income - operating leases	$	669.4	$	921.4	$	910.9

Operating lease income is included in service revenues in the consolidated statements of income (loss).

Future lease payments to be received under non-cancellable operating leases were as follows for the years ended December 31:


Year	(Millions)
2026	$	93.8
2027	88.0
2028	81.3
2029	75.3
2030	66.3
Thereafter	456.1
Total lease receivables	$	860.8

The underlying assets under operating leases were as follows as of December 31:


(Millions)	2024
Land	$	26.7
Building and improvements	350.8
Poles	341.6
Fiber	4,325.5
Copper	3,972.8
Equipment	0.4
	9,017.8
Less accumulated depreciation	(5,852.6)
Underlying assets under operating leases, net	$	3,165.2

Depreciation expense for the underlying assets under operating leases was $112.9 million for the period January 1, 2025 to July 31, 2025 and $186.4 million and $182.9 million for the years ended December 31, 2024 and 2023, respectively.

Following the Merger and the corresponding change to account for the Windstream Leases as intercompany activity, the remaining owned assets under operating leases in which the Company is the lessor is not significant to the consolidated financial position of the Company as of December 31, 2025.

Periodically, the Company enters into indefeasible right of use (“IRU”) arrangements that grant exclusive access to and unrestricted use of specific dark fiber assets and for which the terms of the arrangements are for a major part of the assets’ remaining economic life. These IRU arrangements meet the criteria for sales-type lease classification. Sales revenue, cost of sales and gross profit recognized by the Company related to IRU arrangements were as follows for the years ended December 31:


(Millions)	2025		2024		2023
Sales revenue	$	16.3	$	7.8	$	0.9
Cost of sales	8.4		2.8		0.4
Gross profit	$	7.9	$	5.0	$	0.5

Lessee Arrangements

The Company has commitments under operating leases for network facilities including communications towers, ground, colocation, other communication equipment, dark fiber lease arrangements, buildings, vehicles, office space and office equipment. The Company has also entered into finance lease agreements for facilities and equipment for use in our operations. These leases have initial lease terms ranging from less than one year to 30 years, most of which include options to extend or renew the leases for less than one year to 20 years, and some of which may include options to terminate the leases within one to six months. Certain lease agreements contain provisions for future rent increases. Payments due under the lease contracts include fixed payments plus, for some of our leases, variable payments.

The components of operating lease cost are presented within cost of services and selling, general and administrative expenses, while the components of finance lease cost are presented within depreciation and amortization and interest expense, net.

Sublease income is presented within service revenues in the consolidated statements of income (loss). Components of net lease cost were as follows as of December 31:


(Millions)	2025		2024		2023
Finance lease cost:
Amortization of ROU assets	$	7.7	$	4.2	$	4.1
Interest on lease liabilities	3.0		1.7		1.6
Total finance lease cost	10.7		5.9		5.7
Operating lease cost	81.3		24.9		23.0
Short-term lease cost	12.5		4.2		3.5
Variable lease cost	1.4		0.6		0.9
Less sublease income	(22.5)		(17.8)		(14.6)
Net lease cost	$	83.4	$	17.8	$	18.5

As of December 31, 2025, the Company has short term lease commitments totaling approximately $23.1 million. Amounts reported in the consolidated balance sheets for leases in which we are the lessee were as follows as of December 31:


(Millions)	2025		2024
Operating Leases
Operating lease right-of-use assets, net	$	516.6	$	126.8
Current portion of operating lease obligations	$	122.6	$	12.7
Noncurrent operating lease obligations	360.5		67.8
Total operating lease liabilities	$	483.1	$	80.5
Finance Leases
Property, plant and equipment, gross	$	93.6	$	52.8
Accumulated depreciation	(9.8)		(23.3)
Property, plant and equipment, net	$	83.8	$	29.5
Other current liabilities	$	6.4	$	2.7
Other liabilities	50.7		14.5
Total finance lease liabilities	$	57.1	$	17.2


Weighted Average Remaining Lease Term
Operating leases	6.1 years		13.8 years
Finance leases	10.2 years		7.5 years
Weighted Average Discount Rate
Operating leases	6.7	%	10.4	%
Finance leases	7.9	%	10.0	%

Other information related to leases was as follows as of December 31:


(Millions)	2025		2024		2023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash outflows for operating leases	$	73.9	$	31.3	$	22.3
Operating cash outflows for finance leases	$	2.7	$	1.7	$	1.6
Financing cash outflows for finance leases	$	5.8	$	2.7	$	2.3

Non-cash items:
New operating leases and remeasurements, net	$	46.4	$	19.0	$	32.5
New finance leases and remeasurements, net	$	8.0	$	1.8	$	5.7

Future lease payments under non-cancellable leases as of December 31, 2025 are as follows:


(Millions)	Operating Leases		Finance Leases
2026	$	127.8	$	10.5
2027	106.7		9.3
2028	81.1		8.3
2029	60.1		7.6
2030	46.0		7.0
Thereafter	139.3		38.8
Total undiscounted lease payments	$	561.0	$	81.5
Less imputed interest	(77.9)		(24.4)
Total lease liabilities	$	483.1	$	57.1

Future sublease rentals as of December 31, 2025 are as follows:


(Millions)	Sublease Rentals
2026	$	16.3
2027	16.6
2028	16.4
2029	14.6
2030	11.9
Thereafter	127.6
Total	$	203.4

Leases

Leases:

Lessor Arrangements

Operating lease income was as follows for the years ended December 31:


(Millions)	2025		2024		2023
Lease income - operating leases	$	669.4	$	921.4	$	910.9

Operating lease income is included in service revenues in the consolidated statements of income (loss).

Future lease payments to be received under non-cancellable operating leases were as follows for the years ended December 31:


Year	(Millions)
2026	$	93.8
2027	88.0
2028	81.3
2029	75.3
2030	66.3
Thereafter	456.1
Total lease receivables	$	860.8

The underlying assets under operating leases were as follows as of December 31:


(Millions)	2024
Land	$	26.7
Building and improvements	350.8
Poles	341.6
Fiber	4,325.5
Copper	3,972.8
Equipment	0.4
	9,017.8
Less accumulated depreciation	(5,852.6)
Underlying assets under operating leases, net	$	3,165.2


(Millions)	2025		2024		2023
Sales revenue	$	16.3	$	7.8	$	0.9
Cost of sales	8.4		2.8		0.4
Gross profit	$	7.9	$	5.0	$	0.5

Lessee Arrangements

Sublease income is presented within service revenues in the consolidated statements of income (loss). Components of net lease cost were as follows as of December 31:


(Millions)	2025		2024		2023
Finance lease cost:
Amortization of ROU assets	$	7.7	$	4.2	$	4.1
Interest on lease liabilities	3.0		1.7		1.6
Total finance lease cost	10.7		5.9		5.7
Operating lease cost	81.3		24.9		23.0
Short-term lease cost	12.5		4.2		3.5
Variable lease cost	1.4		0.6		0.9
Less sublease income	(22.5)		(17.8)		(14.6)
Net lease cost	$	83.4	$	17.8	$	18.5


(Millions)	2025		2024
Operating Leases
Operating lease right-of-use assets, net	$	516.6	$	126.8
Current portion of operating lease obligations	$	122.6	$	12.7
Noncurrent operating lease obligations	360.5		67.8
Total operating lease liabilities	$	483.1	$	80.5
Finance Leases
Property, plant and equipment, gross	$	93.6	$	52.8
Accumulated depreciation	(9.8)		(23.3)
Property, plant and equipment, net	$	83.8	$	29.5
Other current liabilities	$	6.4	$	2.7
Other liabilities	50.7		14.5
Total finance lease liabilities	$	57.1	$	17.2


Weighted Average Remaining Lease Term
Operating leases	6.1 years		13.8 years
Finance leases	10.2 years		7.5 years
Weighted Average Discount Rate
Operating leases	6.7	%	10.4	%
Finance leases	7.9	%	10.0	%

Other information related to leases was as follows as of December 31:


(Millions)	2025		2024		2023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash outflows for operating leases	$	73.9	$	31.3	$	22.3
Operating cash outflows for finance leases	$	2.7	$	1.7	$	1.6
Financing cash outflows for finance leases	$	5.8	$	2.7	$	2.3

Non-cash items:
New operating leases and remeasurements, net	$	46.4	$	19.0	$	32.5
New finance leases and remeasurements, net	$	8.0	$	1.8	$	5.7

Future lease payments under non-cancellable leases as of December 31, 2025 are as follows:


(Millions)	Operating Leases		Finance Leases
2026	$	127.8	$	10.5
2027	106.7		9.3
2028	81.1		8.3
2029	60.1		7.6
2030	46.0		7.0
Thereafter	139.3		38.8
Total undiscounted lease payments	$	561.0	$	81.5
Less imputed interest	(77.9)		(24.4)
Total lease liabilities	$	483.1	$	57.1

Future sublease rentals as of December 31, 2025 are as follows:


(Millions)	Sublease Rentals
2026	$	16.3
2027	16.6
2028	16.4
2029	14.6
2030	11.9
Thereafter	127.6
Total	$	203.4

Leases

Leases:

Lessor Arrangements

Operating lease income was as follows for the years ended December 31:


(Millions)	2025		2024		2023
Lease income - operating leases	$	669.4	$	921.4	$	910.9

Operating lease income is included in service revenues in the consolidated statements of income (loss).

Future lease payments to be received under non-cancellable operating leases were as follows for the years ended December 31:


Year	(Millions)
2026	$	93.8
2027	88.0
2028	81.3
2029	75.3
2030	66.3
Thereafter	456.1
Total lease receivables	$	860.8

The underlying assets under operating leases were as follows as of December 31:


(Millions)	2024
Land	$	26.7
Building and improvements	350.8
Poles	341.6
Fiber	4,325.5
Copper	3,972.8
Equipment	0.4
	9,017.8
Less accumulated depreciation	(5,852.6)
Underlying assets under operating leases, net	$	3,165.2


(Millions)	2025		2024		2023
Sales revenue	$	16.3	$	7.8	$	0.9
Cost of sales	8.4		2.8		0.4
Gross profit	$	7.9	$	5.0	$	0.5

Lessee Arrangements

Sublease income is presented within service revenues in the consolidated statements of income (loss). Components of net lease cost were as follows as of December 31:


(Millions)	2025		2024		2023
Finance lease cost:
Amortization of ROU assets	$	7.7	$	4.2	$	4.1
Interest on lease liabilities	3.0		1.7		1.6
Total finance lease cost	10.7		5.9		5.7
Operating lease cost	81.3		24.9		23.0
Short-term lease cost	12.5		4.2		3.5
Variable lease cost	1.4		0.6		0.9
Less sublease income	(22.5)		(17.8)		(14.6)
Net lease cost	$	83.4	$	17.8	$	18.5


(Millions)	2025		2024
Operating Leases
Operating lease right-of-use assets, net	$	516.6	$	126.8
Current portion of operating lease obligations	$	122.6	$	12.7
Noncurrent operating lease obligations	360.5		67.8
Total operating lease liabilities	$	483.1	$	80.5
Finance Leases
Property, plant and equipment, gross	$	93.6	$	52.8
Accumulated depreciation	(9.8)		(23.3)
Property, plant and equipment, net	$	83.8	$	29.5
Other current liabilities	$	6.4	$	2.7
Other liabilities	50.7		14.5
Total finance lease liabilities	$	57.1	$	17.2


Weighted Average Remaining Lease Term
Operating leases	6.1 years		13.8 years
Finance leases	10.2 years		7.5 years
Weighted Average Discount Rate
Operating leases	6.7	%	10.4	%
Finance leases	7.9	%	10.0	%

Other information related to leases was as follows as of December 31:


(Millions)	2025		2024		2023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash outflows for operating leases	$	73.9	$	31.3	$	22.3
Operating cash outflows for finance leases	$	2.7	$	1.7	$	1.6
Financing cash outflows for finance leases	$	5.8	$	2.7	$	2.3

Non-cash items:
New operating leases and remeasurements, net	$	46.4	$	19.0	$	32.5
New finance leases and remeasurements, net	$	8.0	$	1.8	$	5.7

Future lease payments under non-cancellable leases as of December 31, 2025 are as follows:


(Millions)	Operating Leases		Finance Leases
2026	$	127.8	$	10.5
2027	106.7		9.3
2028	81.1		8.3
2029	60.1		7.6
2030	46.0		7.0
Thereafter	139.3		38.8
Total undiscounted lease payments	$	561.0	$	81.5
Less imputed interest	(77.9)		(24.4)
Total lease liabilities	$	483.1	$	57.1

Future sublease rentals as of December 31, 2025 are as follows:


(Millions)	Sublease Rentals
2026	$	16.3
2027	16.6
2028	16.4
2029	14.6
2030	11.9
Thereafter	127.6
Total	$	203.4

Segments

12 Months Ended

Dec. 31, 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 customers’ 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, goodwill impairment, gain on sale of operating assets, gain on settlement of preexisting relationships in connection with the Merger or transaction-related and other costs, because these items are not monitored by or reported to the CODM at a segment level.

Interest expense, net and loss on extinguishment of debt have 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 (expense), net, and income tax benefit 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. Following the Merger, 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 for the years ended December 31:


(Millions)	2025		2024		2023
Kinetic:
Service revenues from external customers	$	874.3	$	—	$	—
Sales revenues from external customers	34.7		—		—
Total revenues and sales from external customers	909.0		—		—
Intersegment revenues (a)	19.4		—		—
Total revenues and sales	928.4		—		—
Compensation expenses	(160.4)		—		—
Non-compensation managed expenses (b)	(104.9)		—		—
Revenue-driven costs (c)	(84.2)		—		—
Network access and facilities	(84.1)		—		—
Allocated network operations expenses	(20.4)		—		—
Customer access (d)	(9.7)		—		—
Intersegment costs and expenses (e)	(57.1)		—		—
Contribution margin	$	407.6	$	—	$	—
Uniti Solutions:
Service revenues from external customers	$	329.5	$	—	$	—
Sales revenues from external customers	0.6		—		—
Total revenues and sales from external customers	330.1		—		—
Intersegment revenues (f)	2.2		—		—
Total revenues and sales	332.3		—		—
Compensation expenses	(25.0)		—		—
Non-compensation managed expenses (g)	(2.4)		—		—
Revenue-driven costs (h)	(49.5)		—		—
Customer access (d)	(71.8)		—		—
Intersegment costs and expenses (e)	(19.5)		—		—
Contribution margin	$	164.1	$	—	$	—
Fiber Infrastructure:
Service revenues from external customers	$	967.9	$	1,148.8	$	1,133.0
Sales revenues from external customers	27.5		18.1		16.8
Total revenues and sales from external customers	995.4		1,166.9		1,149.8
Intersegment revenues (i)	58.5		—		—
Total revenues and sales	1,053.9		1,166.9		1,149.8
Network access and facilities expenses	(156.2)		(91.4)		(93.5)
Compensation expenses	(63.9)		(45.7)		(43.7)
Non-compensation managed expenses (j)	(16.1)		(12.7)		(16.8)
Revenue-driven costs (k)	(33.0)		(17.8)		(16.4)
Allocated network operations expenses	(4.4)		—		—
Customer access (d)	(4.7)		—		—
Intersegment costs and expenses (e)	(3.5)		—		—
Contribution margin	$	772.1	$	999.3	$	979.4
Total segment revenues and sales from external customers	$	2,234.5	$	1,166.9	$	1,149.8
Total intersegment revenues	80.1		—		—
Total segment revenues and sales	2,314.6		1,166.9		1,149.8
Total segment expenses	(890.7)		(167.6)		(170.4)
Total intersegment costs and expenses	(80.1)		—		—
Total segment contribution margin	$	1,343.8	$	999.3	$	979.4