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Debt and Other Obligations (Tables) | 12 Months Ended
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Dec. 31, 2021
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, 2021.
| Original Issue Date |  | Contractual Maturity Date |  | Outstanding Balance as of December 31, |  | Stated Interest Rate as of December 31, |
2021 |  | 2020 | 2021 | (a)
3.849% Secured Notes | Dec. 2012 |  | Apr. 2023 |  | $ | 998 |  |  | $ | 997 |  |  | 3.9 | % |
Secured Notes, Series 2009-1, Class A-2 | July 2009 |  | Aug. 2029 |  | 53 |  |  | 60 |  |  | 9.0 | % |
Tower Revenue Notes, Series 2015-1 | May 2015 |  | May 2042 | (b)(c) | — |  |  | 299 |  |  | N/A |
Tower Revenue Notes, Series 2018-1 | July 2018 |  | July 2043 | (b)(c) | 249 |  |  | 248 |  |  | 3.7 | % |
Tower Revenue Notes, Series 2015-2 | May 2015 |  | May 2045 | (b)(c) | 696 |  |  | 695 |  |  | 3.7 | % |
Tower Revenue Notes, Series 2018-2 | July 2018 |  | July 2048 | (b)(c) | 744 |  |  | 743 |  |  | 4.2 | % |
Finance leases and other obligations | Various |  | Various | (d) | 242 |  |  | 236 |  |  | Various | (d)
Total secured debt |  |  |  |  | 2,982 |  |  | 3,278 |  |  |  |
2016 Revolver | Jan. 2016 |  | June 2026 |  | 665 |  | (e) | 290 |  |  | 1.2 | % | (f)
2016 Term Loan A | Jan. 2016 |  | June 2026 |  | 1,222 |  |  | 2,252 |  |  | 1.2 | % | (f)
Commercial Paper Notes | Various | (g) | Various | (g) | 265 |  |  | 285 |  |  | 0.5 | % |
5.250% Senior Notes | Oct. 2012 |  | Jan. 2023 |  | — |  |  | 1,646 |  |  | N/A |
3.150% Senior Notes | Jan. 2018 |  | July 2023 |  | 747 |  |  | 746 |  |  | 3.2 | % |
3.200% Senior Notes | Aug. 2017 |  | Sept. 2024 |  | 747 |  |  | 745 |  |  | 3.2 | % |
1.350% Senior Notes | June 2020 |  | July 2025 |  | 496 |  |  | 494 |  |  | 1.4 | % |
4.450% Senior Notes | Feb. 2016 |  | Feb. 2026 |  | 895 |  |  | 894 |  |  | 4.5 | % |
3.700% Senior Notes | May 2016 |  | June 2026 |  | 746 |  |  | 745 |  |  | 3.7 | % |
1.050% Senior Notes | Feb. 2021 |  | July 2026 |  | 990 |  |  | — |  |  | 1.1 | % |
4.000% Senior Notes | Feb. 2017 |  | Mar. 2027 |  | 496 |  |  | 496 |  |  | 4.0 | % |
3.650% Senior Notes | Aug. 2017 |  | Sept. 2027 |  | 995 |  |  | 994 |  |  | 3.7 | % |
3.800% Senior Notes | Jan. 2018 |  | Feb. 2028 |  | 992 |  |  | 991 |  |  | 3.8 | % |
4.300% Senior Notes | Feb. 2019 |  | Feb. 2029 |  | 593 |  |  | 593 |  |  | 4.3 | % |
3.100% Senior Notes | Aug. 2019 |  | Nov. 2029 |  | 545 |  |  | 544 |  |  | 3.1 | % |
3.300% Senior Notes | Apr. 2020 |  | July 2030 |  | 738 |  |  | 737 |  |  | 3.3 | % |
2.250% Senior Notes | June 2020 |  | Jan. 2031 |  | 1,089 |  |  | 1,088 |  |  | 2.3 | % |
2.100% Senior Notes | Feb. 2021 |  | Apr. 2031 |  | 988 |  |  | — |  |  | 2.1 | % |
2.500% Senior Notes | June 2021 |  | July 2031 |  | 741 |  |  | — |  |  | 2.5 | % |
2.900% Senior Notes | Feb. 2021 |  | Apr. 2041 |  | 1,233 |  |  | — |  |  | 2.9 | % |
4.750% Senior Notes | May 2017 |  | May 2047 |  | 344 |  |  | 344 |  |  | 4.8 | % |
5.200% Senior Notes | Feb. 2019 |  | Feb. 2049 |  | 395 |  |  | 395 |  |  | 5.2 | % |
4.000% Senior Notes | Aug. 2019 |  | Nov. 2049 |  | 345 |  |  | 345 |  |  | 4.0 | % |
4.150% Senior Notes | Apr. 2020 |  | July 2050 |  | 490 |  |  | 489 |  |  | 4.2 | % |
3.250% Senior Notes | June 2020 |  | Jan. 2051 |  | 890 |  |  | 889 |  |  | 3.3 | % |
Total unsecured debt |  |  |  |  | $ | 17,647 |  |  | $ | 16,002 |  |  |  |
Total debt and other obligations |  |  |  |  | $ | 20,629 |  |  | $ | 19,280 |  |  |  |
Less: current maturities and short-term debt and other current obligations |  |  | $ | 72 |  |  | $ | 129 |  |  |  |
Non-current portion of long-term debt and other long-term obligations |  |  | $ | 20,557 |  |  | $ | 19,151 |  |  |  |
(a)Represents the weighted-average stated interest rate. (b)The Tower Revenue Notes, Series 2015-2 ("May 2015 Tower Revenue Notes") and Tower Revenue Notes, Series 2018-1 and 2018-2 ("July 2018 Tower Revenue Notes") are collectively referred to herein as "Tower Revenue Notes." (c)If the respective series of 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, 2021, the Tower Revenue Notes have principal amounts of $250 million, $700 million and $750 million, with anticipated repayment dates in 2023, 2025 and 2028, respectively. (d)The Company's finance leases and other obligations relate to land, fiber, vehicles, and other assets and bear interest rates ranging up to 10% and mature in periods ranging from less than one year to approximately 25 years. (e)As of December 31, 2021, the undrawn availability under the 2016 Revolver was $4.3 billion. (f)Both the 2016 Revolver and 2016 Term Loan A bear interest, at our option, at either (1) LIBOR plus 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 (1) potential adjustments to such percentages and (2) LIBOR transition provisions. (g)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.
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, 2021, 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, |  |  |  |  |  |  |  |
| 2022 |  | 2023 |  | 2024 |  | 2025 |  | 2026 |  | Thereafter |  | Total Cash Obligations |  | Unamortized Adjustments, Net |  | Total Debt and Other Obligations Outstanding
Scheduled principal payments and final maturities | $ | 338 |  | (a) | $ | 1,841 |  |  | $ | 844 |  |  | $ | 637 |  |  | $ | 1,659 |  |  | $ | 15,478 |  |  | $ | 20,797 |  |  | $ | (168) |  |  | $ | 20,629 |
(a)Predominately consists of outstanding indebtedness under the CP Program. Such amounts may be issued, repaid or re-issued from time to time.
Schedule of Extinguishment of Debt | The following is a summary of the purchases and redemptions of debt during the years ended December 31, 2021, 2020 and 2019.
| Year Ended December 31, 2021
| Principal Amount |  | Cash Paid(a) |  | Gains (losses)(b)
5.250% Senior Notes | $ | 1,650 |  |  | $ | 1,789 |  |  | $ | (143) |
2016 Term Loan A | — |  |  | — |  |  | (1) |
Tower Revenue Notes, Series 2015-1 | 300 |  |  | 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.
| Year Ended December 31, 2020
| Principal Amount |  | Cash Paid(a) |  | Gains (losses)(b)
3.400% Senior Notes | $ | 850 |  |  | $ | 863 |  |  | $ | (13) |
2.250% Senior Notes | 700 |  |  | 714 |  |  | (16) |
4.875% Senior Notes | 850 |  |  | 913 |  |  | (66) |
Total | $ | 2,400 |  |  | $ | 2,490 |  |  | $ | (95) |
(a)Exclusive of accrued interest. (b)Inclusive of the write-off of the respective deferred financing costs.
| Year Ended December 31, 2019
| Principal Amount |  | Cash Paid(a) |  | Gains (losses)(b)
Secured Notes, Series 2009-1, Class A-1 | $ | 12 |  |  | $ | 12 |  |  | $ | (1) |
2016 Term Loan A | — |  |  | — |  |  | (1) |
Total | $ | 12 |  |  | $ | 12 |  |  | $ | (2) |
(a)Exclusive of accrued interest. (b)Inclusive of the write-off of the respective deferred financing costs.

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