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Debt and Other Obligations (Tables)
 12 Months Ended
Dec. 31, 2023
Debt and Other Obligations [Abstract]  
Schedule of Long-Term Debt Instruments
The table below sets forth the Company's debt and other obligations as of December 31, 2023.
 Original Issue DateContractual Maturity Date Outstanding Balance as of December 31,Stated Interest Rate as of
December 31,
2023 20222023
(a)
Secured Notes, Series 2009-1, Class A-2July 2009Aug. 202940 47 9.0 %
Tower Revenue Notes, Series 2015-2May 2015May 2045
(b)
698 698 3.7 %
Tower Revenue Notes, Series 2018-2July 2018July 2048
(b)
746 745 4.2 %
Finance leases and other obligationsVarious
(c)
Various
(c)
270 246 Various
(c)
Total secured debt1,754 1,736 
2016 RevolverJan. 2016July 2027670 
(d)
1,305 6.5 %
(e)
2016 Term Loan AJan. 2016July 20271,162 1,192 6.5 %
(e)
Commercial Paper Notes
N/A
(f)
N/A
(f)
— 1,241 N/A
3.150% Senior NotesJan. 2018July 2023— 
(g)
749 N/A
3.200% Senior NotesAug. 2017Sept. 2024749 748 3.2 %
1.350% Senior NotesJune 2020July 2025498 497 1.4 %
4.450% Senior NotesFeb. 2016Feb. 2026898 896 4.5 %
3.700% Senior NotesMay 2016June 2026748 747 3.7 %
1.050% Senior NotesFeb. 2021July 2026994 992 1.1 %
4.000% Senior NotesFeb. 2017Mar. 2027498 497 4.0 %
2.900% Senior NotesMar. 2022Mar. 2027744 742 2.9 %
3.650% Senior NotesAug. 2017Sept. 2027997 996 3.7 %
5.000% Senior Notes
Jan. 2023
(h)
Jan. 2028
(h)
991 — 5.0 %
3.800% Senior NotesJan. 2018Feb. 2028995 993 3.8 %
4.800% Senior Notes
Apr. 2023
(h)
Sept. 2028
(h)
594 — 4.8 %
4.300% Senior NotesFeb. 2019Feb. 2029595 594 4.3 %
5.600% Senior Notes
Dec. 2023
(h)
June 2029
(h)
740 — 5.6 %
3.100% Senior NotesAug. 2019Nov. 2029546 545 3.1 %
3.300% Senior NotesApr. 2020July 2030741 739 3.3 %
2.250% Senior NotesJune 2020Jan. 20311,091 1,090 2.3 %
2.100% Senior NotesFeb. 2021Apr. 2031990 989 2.1 %
2.500% Senior NotesJune 2021July 2031743 742 2.5 %
5.100% Senior Notes
Apr. 2023
(h)
May 2033
(h)
743 — 5.1 %
5.800% Senior Notes
Dec. 2023
(h)
Mar. 2034
(h)
740 — 5.8 %
2.900% Senior NotesFeb. 2021Apr. 20411,234 1,233 2.9 %
4.750% Senior NotesMay 2017May 2047344 344 4.8 %
5.200% Senior NotesFeb. 2019Feb. 2049396 396 5.2 %
4.000% Senior NotesAug. 2019Nov. 2049346 346 4.0 %
4.150% Senior NotesApr. 2020July 2050490 490 4.2 %
3.250% Senior NotesJune 2020Jan. 2051890 890 3.3 %
Total unsecured debt21,167 19,993 
Total debt and other obligations22,921 21,729 
Less: current maturities of debt and other obligations835 819 
Non-current portion of debt and other long-term obligations$22,086 $20,910 
(a)Represents the weighted-average stated interest rate, as applicable.
(b)If the Tower Revenue Notes, Series 2015-2 and Series 2018-2 (collectively, "Tower Revenue Notes") are not paid in full on or prior to an applicable anticipated repayment date, then Excess Cash Flow (as defined in the indenture governing the terms of such notes) of the issuers of such notes will be used to repay principal of the applicable series and class of the Tower Revenue Notes, and additional interest (of an additional approximately 5% per annum) will accrue on the respective Tower Revenue Notes. As of December 31, 2023, the Tower Revenue Notes, Series 2015-2 and 2018-2 have principal amounts of $700 million and $750 million, with anticipated repayment dates in 2025 and 2028, respectively.
(c)The Company's finance leases and other obligations relate to land, fiber, vehicles, and other assets and bear interest rates up to 10% and mature in periods ranging from less than one year to approximately 25 years.
(d)As of December 31, 2023, the undrawn availability under the senior unsecured revolving credit facility ("2016 Revolver") was $6.3 billion.
(e)Both the 2016 Revolver and senior unsecured term loan A facility ("2016 Term Loan A" and, collectively, "2016 Credit Facility") bear interest, at the Company's option, at either (1) Term SOFR plus (i) a credit spread adjustment of 0.10% per annum and (ii) a credit spread ranging from 0.875% to 1.750% per annum or (2) an alternate base rate plus a credit spread ranging from 0.000% to 0.750% per annum, in each case, with the applicable credit spread based on the Company's senior unsecured debt rating. The Company pays a commitment fee ranging from 0.080% to 0.300%, based on the Company's senior unsecured debt rating, per annum on the undrawn available amount under the 2016 Revolver. See further discussion below regarding potential adjustments to such percentages.
(f)The maturities of the Commercial Paper Notes, as defined below, when outstanding, may vary but may not exceed 397 days from the date of issuance.
(g)In July 2023, the Company repaid in full the 3.150% Senior Notes on the contractual maturity date.
(h)See "Bonds—Senior Notes" below for further discussion of senior unsecured notes issued during 2023.
Schedule of Maturities of Long-term Debt
The following are the scheduled principal payments and final maturities of the total debt and other long-term obligations of the Company outstanding as of December 31, 2023, which do not consider the principal payments that will commence following the anticipated repayment dates on the Tower Revenue Notes. If the Tower Revenue Notes are not paid in full on or prior to their respective anticipated repayment dates, as applicable, then the Excess Cash Flow (as defined in the indenture) of the issuers of such notes will be used to repay principal of the applicable series and class of the Tower Revenue Notes and additional interest (of an additional approximately 5% per annum) will accrue on the Tower Revenue Notes.
Years Ending December 31,ThereafterTotal Cash ObligationsUnamortized Adjustments, NetTotal Debt and Other Obligations Outstanding
20242025202620272028
Scheduled principal payments and
final maturities
$835 $599 $2,777 $3,918 $2,628 $12,335 $23,092 $(171)$22,921 
Schedule of Extinguishment of Debt
The following is a summary of the purchases, payments and redemptions of long-term debt during the years ended December 31, 2023, 2022 and 2021.
Principal Amount
Cash Paid(a)
Gains (losses)(b)
Year Ended December 31, 2023
3.150% Secured Notes750 750 — 
Total$750 $750 $— 
Year Ended December 31, 2022
Tower Revenue Notes, Series 2018-1$250 $252 $(3)
3.849% Secured Notes1,000 1,022 (23)
2016 Revolver— — (2)
Total$1,250 $1,274 $(28)
Year Ended December 31, 2021
5.250% Senior Notes$1,650 $1,789 $(143)
2016 Term Loan A— — (1)
Tower Revenue Notes, Series 2015-1300 300 (1)
Total$1,950 $2,089 $(145)
(a)Exclusive of accrued interest.
(b)Inclusive of the write-off of the respective deferred financing costs.