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Debt and Other Obligations (Tables)
 12 Months Ended
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 20202021
(a)
3.849% Secured NotesDec. 2012Apr. 2023$998 $997 3.9 %
Secured Notes, Series 2009-1, Class A-2July 2009Aug. 202953 60 9.0 %
Tower Revenue Notes, Series 2015-1May 2015May 2042
(b)(c)
— 299 N/A
Tower Revenue Notes, Series 2018-1July 2018July 2043
(b)(c)
249 248 3.7 %
Tower Revenue Notes, Series 2015-2May 2015May 2045
(b)(c)
696 695 3.7 %
Tower Revenue Notes, Series 2018-2July 2018July 2048
(b)(c)
744 743 4.2 %
Finance leases and other obligationsVariousVarious
(d)
242 236 Various
(d)
Total secured debt2,982 3,278 
2016 RevolverJan. 2016June 2026665 
(e)
290 1.2 %
(f)
2016 Term Loan AJan. 2016June 20261,222 2,252 1.2 %
(f)
Commercial Paper NotesVarious
(g)
Various
(g)
265 285 0.5 %
5.250% Senior NotesOct. 2012Jan. 2023— 1,646 N/A
3.150% Senior NotesJan. 2018July 2023747 746 3.2 %
3.200% Senior NotesAug. 2017Sept. 2024747 745 3.2 %
1.350% Senior NotesJune 2020July 2025496 494 1.4 %
4.450% Senior NotesFeb. 2016Feb. 2026895 894 4.5 %
3.700% Senior NotesMay 2016June 2026746 745 3.7 %
1.050% Senior NotesFeb. 2021July 2026990 — 1.1 %
4.000% Senior NotesFeb. 2017Mar. 2027496 496 4.0 %
3.650% Senior NotesAug. 2017Sept. 2027995 994 3.7 %
3.800% Senior NotesJan. 2018Feb. 2028992 991 3.8 %
4.300% Senior NotesFeb. 2019Feb. 2029593 593 4.3 %
3.100% Senior NotesAug. 2019Nov. 2029545 544 3.1 %
3.300% Senior NotesApr. 2020July 2030738 737 3.3 %
2.250% Senior NotesJune 2020Jan. 20311,089 1,088 2.3 %
2.100% Senior NotesFeb. 2021Apr. 2031988 — 2.1 %
2.500% Senior NotesJune 2021July 2031741 — 2.5 %
2.900% Senior NotesFeb. 2021Apr. 20411,233 — 2.9 %
4.750% Senior NotesMay 2017May 2047344 344 4.8 %
5.200% Senior NotesFeb. 2019Feb. 2049395 395 5.2 %
4.000% Senior NotesAug. 2019Nov. 2049345 345 4.0 %
4.150% Senior NotesApr. 2020July 2050490 489 4.2 %
3.250% Senior NotesJune 2020Jan. 2051890 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,
20222023202420252026ThereafterTotal Cash ObligationsUnamortized Adjustments, NetTotal 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 2015-1300 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.
Year Ended December 31, 2020
Principal Amount
Cash Paid(a)
Gains (losses)(b)
3.400% Senior Notes$850 $863 $(13)
2.250% Senior Notes700 714 (16)
4.875% Senior Notes850 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.