v3.26.1
Operating Segments
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Operating Segments Operating Segment
Reportable Segment
Following the classification of the Fiber Business as discontinued operations, the Company has one reportable segment that constitutes consolidated results consisting of its towers operations. The determination that the Company operates as a single segment is consistent with the nature of its operations and the financial information regularly reviewed by the Company's President and Chief Executive Officer in such person's capacity as the chief operating decision maker ("CODM").
The Company provides access, including space or capacity, to the Company's approximately 40,000 towers geographically dispersed throughout the U.S. The Company also offers site development services as an ancillary offering relating to its towers.
The measurement of profit or loss primarily used by the CODM in making operating decisions, assessing financial performance, and allocating resources is net income (loss).
The following table sets forth the Company's results, including significant expenses not presented in the condensed consolidated statement of operations comprehensive income (loss), for the three and six months ended June 30, 2026 and 2025. Since the Company operates as one reportable segment that constitutes consolidated continuing results of operations, there are no reconciling items between segment and consolidated assets or capital expenditures from continuing operations.
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Net revenues
$1,008 $1,060 $2,018 $2,121 
Less:
Lease expense184 185 368 371 
Employee compensation expense(a)(b)
84 92 167 180 
Other costs of operations expense(c)(d)
61 66 119 123 
Other selling, general and administrative expenses(e)
36 34 67 64 
Asset write-down charges2 2 5 4 
Depreciation, amortization and accretion171 175 343 352 
Restructuring charges
— — 14 — 
Total operating expenses538 554 1,083 1,094 
Operating income470 506 935 1,027 
Interest expense and amortization of deferred financing costs, net(208)(243)(450)(479)
Gains (losses) on retirement of long-term obligations24 — 24 — 
Interest income18 4 22 7 
Other income (expense)(1)2 (2)3 
Income (loss) from continuing operations before income taxes
303 269 529 558 
Benefit (provision) for income taxes(4)(4)(9)(9)
Income (loss) from continuing operations299 265 520 549 
Discontinued operations (note 3):
Income (loss) from discontinued operations before gain (loss) from disposal, net of tax75 278 350 360 
Gain (loss) from disposal of discontinued operations
(280)(252)(625)(1,082)
Income (loss) from discontinued operations, net of tax(205)26 (275)(722)
Net income (loss)$94 $291 $245 $(173)
(a)$23 million and $28 million are included in "Costs of operations" for the three months ended June 30, 2026 and 2025, respectively, and $61 million and $65 million are included in "Selling, general and administrative" for the three months ended June 30, 2026 and 2025, respectively, on the Company's condensed consolidated statement of operations and comprehensive income (loss).
(b)$46 million and $52 million is included in "Costs of operations" for the six months ended June 30, 2026 and 2025, respectively, and $121 million and $128 million are included in "Selling, general and administrative" for the six months ended June 30, 2026 and 2025, respectively, on the Company's condensed consolidated statement of operations and comprehensive income (loss).
(c)Exclusive of depreciation, amortization and accretion, shown separately.
(d)Other costs of operations primarily consists of (1) property taxes, (2) repair and maintenance expense, (3) third-party costs related to ancillary services performed and (4) various other insignificant expenses.
(e)Other selling, general and administrative expenses primarily include (1) corporate facilities expense, (2) legal expenses and consulting fees, (3) subscriptions and software costs and (4) other general corporate costs.