XML 46 R32.htm IDEA: XBRL DOCUMENT v3.24.1.u1
Debt and Other Obligations (Indebtedness) (Details) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2024
Dec. 31, 2023
Debt Instrument [Line Items]    
Debt and Finance Lease Obligations $ 23,414 $ 22,921
Less: current maturities of debt and other obligations 854 835
Non-current portion of long-term debt and other long-term obligations 22,560 22,086
2015 Tower Revenue Notes 3.663% due 2045 [Member]    
Debt Instrument [Line Items]    
Debt Instrument, Face Amount 700  
2018 Tower Revenue Notes 4.241% due 2048 [Member]    
Debt Instrument [Line Items]    
Debt Instrument, Face Amount $ 750  
Fixed Rate Securitized Debt July 2018 Tower Revenue Notes [Member]    
Debt Instrument [Line Items]    
Debt Instrument, Interest Rate, Increase (Decrease) 5.00%  
Finance Lease Obligations and Other [Member] | Securitized Debt [Member]    
Debt Instrument [Line Items]    
Debt and Finance Lease Obligations [1] $ 287 270
High Yield Bonds [Member] | August 2017 Senior Unsecured 3.200% Notes [Member]    
Debt Instrument [Line Items]    
Debt Instrument, Interest Rate, Stated Percentage [2],[3] 3.20%  
Debt and Finance Lease Obligations $ 750 749
High Yield Bonds [Member] | June 2020 Senior Unsecured 1.350% Notes [Domain]    
Debt Instrument [Line Items]    
Debt Instrument, Interest Rate, Stated Percentage [2],[3] 1.40%  
Debt and Finance Lease Obligations $ 498 498
High Yield Bonds [Member] | Senior Unsecured 2016 Notes 4.450% [Member]    
Debt Instrument [Line Items]    
Debt Instrument, Interest Rate, Stated Percentage [2],[3] 4.50%  
Debt and Finance Lease Obligations $ 898 898
High Yield Bonds [Member] | Senior Unsecured 2016 Notes 3.7% [Member]    
Debt Instrument [Line Items]    
Debt Instrument, Interest Rate, Stated Percentage [2],[3] 3.70%  
Debt and Finance Lease Obligations $ 748 748
High Yield Bonds [Member] | February 2021 Senior Unsecured 1.050% Notes    
Debt Instrument [Line Items]    
Debt Instrument, Interest Rate, Stated Percentage [2],[3] 1.10%  
Debt and Finance Lease Obligations $ 995 994
High Yield Bonds [Member] | 4.000% Senior Unsecured Notes [Member]    
Debt Instrument [Line Items]    
Debt Instrument, Interest Rate, Stated Percentage [2],[3] 4.00%  
Debt and Finance Lease Obligations $ 498 498
High Yield Bonds [Member] | 2.900% Senior Unsecured Notes    
Debt Instrument [Line Items]    
Debt Instrument, Interest Rate, Stated Percentage [2],[3] 2.90%  
Debt and Finance Lease Obligations $ 744 744
High Yield Bonds [Member] | August 2017 Senior Unsecured 3.650% Notes [Member]    
Debt Instrument [Line Items]    
Debt Instrument, Interest Rate, Stated Percentage [2],[3] 3.70%  
Debt and Finance Lease Obligations $ 997 997
High Yield Bonds [Member] | January 2023 Senior Unsecured 5.000% Notes    
Debt Instrument [Line Items]    
Debt Instrument, Interest Rate, Stated Percentage [2],[3] 5.00%  
Debt and Finance Lease Obligations $ 992 991
High Yield Bonds [Member] | 3.800% Senior Notes [Member]    
Debt Instrument [Line Items]    
Debt Instrument, Interest Rate, Stated Percentage [2],[3] 3.80%  
Debt and Finance Lease Obligations $ 995 995
High Yield Bonds [Member] | 4.800% Senior Notes    
Debt Instrument [Line Items]    
Debt Instrument, Interest Rate, Stated Percentage [2],[3] 4.80%  
Debt and Finance Lease Obligations $ 594 594
High Yield Bonds [Member] | February 2019 Senior Unsecured 4.300% Notes [Member]    
Debt Instrument [Line Items]    
Debt Instrument, Interest Rate, Stated Percentage [2],[3] 4.30%  
Debt and Finance Lease Obligations $ 595 595
High Yield Bonds [Member] | December 2023 Senior Unsecured 5.600% Notes    
Debt Instrument [Line Items]    
Debt Instrument, Interest Rate, Stated Percentage [2],[3] 5.60%  
Debt and Finance Lease Obligations $ 741 740
High Yield Bonds [Member] | August 2019 Senior Unsecured 3.100% Notes [Member]    
Debt Instrument [Line Items]    
Debt Instrument, Interest Rate, Stated Percentage [2],[3] 3.10%  
Debt and Finance Lease Obligations $ 546 546
High Yield Bonds [Member] | April 2020 Senior Unsecured 3.300% Notes [Member]    
Debt Instrument [Line Items]    
Debt Instrument, Interest Rate, Stated Percentage [2],[3] 3.30%  
Debt and Finance Lease Obligations $ 741 741
High Yield Bonds [Member] | June 2020 Senior Unsecured 2.250% Notes [Domain]    
Debt Instrument [Line Items]    
Debt Instrument, Interest Rate, Stated Percentage [2],[3] 2.30%  
Debt and Finance Lease Obligations $ 1,092 1,091
High Yield Bonds [Member] | February 2021 Senior Unsecured 2.100% Notes    
Debt Instrument [Line Items]    
Debt Instrument, Interest Rate, Stated Percentage [2],[3] 2.10%  
Debt and Finance Lease Obligations $ 991 990
High Yield Bonds [Member] | June 2021 Senior Unsecured 2.500% Notes [Domain]    
Debt Instrument [Line Items]    
Debt Instrument, Interest Rate, Stated Percentage [2],[3] 2.50%  
Debt and Finance Lease Obligations $ 743 743
High Yield Bonds [Member] | 5.100% Senior Notes    
Debt Instrument [Line Items]    
Debt Instrument, Interest Rate, Stated Percentage [2],[3] 5.10%  
Debt and Finance Lease Obligations $ 743 743
High Yield Bonds [Member] | December 2023 Senior Unsecured 5.800% Notes    
Debt Instrument [Line Items]    
Debt Instrument, Interest Rate, Stated Percentage [2],[3] 5.80%  
Debt and Finance Lease Obligations $ 742 740
High Yield Bonds [Member] | February 2021 Senior Unsecured 2.900% Notes    
Debt Instrument [Line Items]    
Debt Instrument, Interest Rate, Stated Percentage [2],[3] 2.90%  
Debt and Finance Lease Obligations $ 1,235 1,234
High Yield Bonds [Member] | 4.750% Senior Unsecured Notes [Member] [Member]    
Debt Instrument [Line Items]    
Debt Instrument, Interest Rate, Stated Percentage [2],[3] 4.80%  
Debt and Finance Lease Obligations $ 344 344
High Yield Bonds [Member] | February 2019 Senior Unsecured 5.200% Notes [Member]    
Debt Instrument [Line Items]    
Debt Instrument, Interest Rate, Stated Percentage [2],[3] 5.20%  
Debt and Finance Lease Obligations $ 396 396
High Yield Bonds [Member] | August 2019 Senior Unsecured 4.000% Notes [Member]    
Debt Instrument [Line Items]    
Debt Instrument, Interest Rate, Stated Percentage [2],[3] 4.00%  
Debt and Finance Lease Obligations $ 346 346
High Yield Bonds [Member] | April 2020 Senior Unsecured 4.150% Notes [Member]    
Debt Instrument [Line Items]    
Debt Instrument, Interest Rate, Stated Percentage [2],[3] 4.20%  
Debt and Finance Lease Obligations $ 490 490
High Yield Bonds [Member] | June 2020 Senior Unsecured 3.250% Notes [Domain]    
Debt Instrument [Line Items]    
Debt Instrument, Interest Rate, Stated Percentage [2],[3] 3.30%  
Debt and Finance Lease Obligations $ 890 890
Unsecured Debt [Member]    
Debt Instrument [Line Items]    
Debt and Finance Lease Obligations 21,644 21,167
Securitized Debt [Member]    
Debt Instrument [Line Items]    
Debt and Finance Lease Obligations $ 1,770 1,754
Securitized Debt [Member] | Fixed Rate Debt 2009 Securitized Notes A-2 [Member]    
Debt Instrument [Line Items]    
Debt Instrument, Interest Rate, Stated Percentage [2],[3] 9.00%  
Debt and Finance Lease Obligations $ 38 40
Securitized Debt [Member] | 2015 Tower Revenue Notes 3.663% due 2045 [Member]    
Debt Instrument [Line Items]    
Debt Instrument, Interest Rate, Stated Percentage [2],[3] 3.70%  
Debt and Finance Lease Obligations [4] $ 699 698
Securitized Debt [Member] | 2018 Tower Revenue Notes 4.241% due 2048 [Member]    
Debt Instrument [Line Items]    
Debt Instrument, Interest Rate, Stated Percentage [2],[3] 4.20%  
Debt and Finance Lease Obligations [4] $ 746 746
Bank Debt [Member] | 2016 Term Loan A [Member]    
Debt Instrument [Line Items]    
Debt Instrument, Interest Rate, Stated Percentage [2],[3],[5] 6.40%  
Debt and Finance Lease Obligations $ 1,162 1,162
Bank Debt [Member] | Commercial Paper [Member]    
Debt Instrument [Line Items]    
Debt Instrument, Interest Rate, Stated Percentage [2],[3] 5.90%  
Maximum [Member]    
Debt Instrument [Line Items]    
Debt Instrument, Interest Rate, Stated Percentage 0.75%  
Maximum [Member] | Finance Lease Obligations and Other [Member]    
Debt Instrument [Line Items]    
Debt Instrument, Interest Rate, Stated Percentage 10.00%  
Maximum [Member] | Finance Lease Obligations and Other [Member]    
Debt Instrument [Line Items]    
Debt Instrument Maturity Date Range 25 years  
Minimum [Member]    
Debt Instrument [Line Items]    
Debt Instrument, Interest Rate, Stated Percentage 0.00%  
Minimum [Member] | Finance Lease Obligations and Other [Member]    
Debt Instrument [Line Items]    
Debt Instrument Maturity Date Range one year  
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Maximum [Member]    
Debt Instrument [Line Items]    
Debt Instrument, Interest Rate, Stated Percentage 1.75%  
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Minimum [Member]    
Debt Instrument [Line Items]    
Debt Instrument, Interest Rate, Stated Percentage 0.875%  
Revolving Credit Facility [Member]    
Debt Instrument [Line Items]    
Debt Instrument, Unused Borrowing Capacity, Amount $ 7,000  
Debt and Finance Lease Obligations $ 0 [6] 670
Revolving Credit Facility [Member] | Maximum [Member]    
Debt Instrument [Line Items]    
Line of Credit Facility, Commitment Fee Percentage 0.30%  
Revolving Credit Facility [Member] | Minimum [Member]    
Debt Instrument [Line Items]    
Line of Credit Facility, Commitment Fee Percentage 0.08%  
Commercial Paper [Member] | Bank Debt [Member]    
Debt Instrument [Line Items]    
Debt and Finance Lease Obligations [7] $ 1,138 $ 0
Debt Instrument, Maturity Date, Description 397 days  
Commercial Paper [Member] | Maximum [Member] | Bank Debt [Member]    
Debt Instrument [Line Items]    
Debt Instrument, Maturity Date, Description three months  
Term SOFR Adjustment    
Debt Instrument [Line Items]    
Debt Instrument, Interest Rate, Stated Percentage 0.10%  
[1] 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.
[2] Represents the weighted-average stated interest rate, as applicable.
[3] See the 2023 Form 10-K, including note 7 to the consolidated financial statements, for additional information regarding the maturity and principal amortization provisions and interest rates relating to the Company's indebtedness.
[4] 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 March 31, 2024, the Tower Revenue Notes, Series 2015-2 and Series 2018-2 have principal amounts of $700 million and $750 million, with anticipated repayment dates in 2025 and 2028, respectively.
[5] Both the 2016 Revolver and the 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 the 2023 Form 10-K, including note 7 to the consolidated financial statements, for information regarding potential adjustments to such percentages.
[6] As of March 31, 2024, the undrawn availability under the Company's senior unsecured revolving credit facility ("2016 Revolver") was $7.0 billion.
[7] The maturities of the Commercial Paper Notes, when outstanding, may vary but may not exceed 397 days from the date of issue, but there were no Commercial Paper Notes issued or outstanding during the period that had original maturities greater than three months. The Commercial Paper Notes are issued under customary terms in the commercial paper market and are issued at a discount from par or, alternatively, can be issued at par and bear varying interest rates on a fixed or floating basis. At any point in time, the Company intends to maintain available commitments under its 2016 Revolver in an amount at least equal to the amount of Commercial Paper Notes outstanding. While any outstanding Commercial Paper Notes generally have short-term maturities, the Company classifies the outstanding issuances, when applicable, as long-term based on its ability and intent to refinance the outstanding issuances on a long-term basis.