XML 67 R49.htm IDEA: XBRL DOCUMENT v3.22.0.1
Debt and Other Obligations (Textuals) (Details) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2016
Dec. 31, 2017
Dec. 31, 2012
Debt Instrument [Line Items]              
Principal amount $ 1,950,000 $ 2,400,000 $ 12,000        
Debt and Lease Obligation $ 20,629,000 19,280,000          
Maximum Upward Adjustment - Commitment Fee              
Debt Instrument [Line Items]              
Debt Instrument, Interest Rate, Stated Percentage 0.01%            
Tower Revenue Notes [Member]              
Debt Instrument [Line Items]              
Debt Instrument, Interest Rate, Increase (Decrease) 5.00%            
2018 Tower Revenue Notes 3.720% due 2043 [Member]              
Debt Instrument [Line Items]              
Debt Instrument, Face Amount $ 250,000            
2018 Tower Revenue Notes 4.241% due 2048 [Member]              
Debt Instrument [Line Items]              
Debt Instrument, Face Amount 750,000            
Secured Debt [Member]              
Debt Instrument [Line Items]              
Debt and Lease Obligation $ 2,982,000 3,278,000          
Secured Debt [Member] | 3.849% Secured Notes [Member]              
Debt Instrument [Line Items]              
Debt Instrument, Face Amount             $ 1,000,000
Debt Instrument, Interest Rate, Stated Percentage 3.90% [1]           3.849%
Debt and Lease Obligation $ 998,000 997,000          
Secured Debt [Member] | July 2018 Tower Revenue Notes [Member]              
Debt Instrument [Line Items]              
Debt Instrument, Face Amount     1,000,000        
Secured Debt [Member] | 2018 Tower Revenue Notes 3.720% due 2043 [Member]              
Debt Instrument [Line Items]              
Debt Instrument, Face Amount     $ 250,000        
Debt Instrument, Interest Rate, Stated Percentage 3.70% [1]   3.72%        
Debt and Lease Obligation [2],[3] $ 249,000 248,000          
Secured Debt [Member] | 2018 Tower Revenue Notes 4.241% due 2048 [Member]              
Debt Instrument [Line Items]              
Debt Instrument, Face Amount     $ 750,000        
Debt Instrument, Interest Rate, Stated Percentage 4.20% [1]   4.241%        
Debt and Lease Obligation [2],[3] $ 744,000 743,000          
Secured Debt [Member] | 2018 Tower Revenue Notes Risk Retention Tranche [Member]              
Debt Instrument [Line Items]              
Debt Instrument, Face Amount     $ 53,000        
Secured Debt [Member] | May 2015 Tower Revenue Notes [Member]              
Debt Instrument [Line Items]              
Debt Instrument, Face Amount         $ 1,000,000    
Secured Debt [Member] | 2015 Tower Revenue Notes 3.222% due 2042 [Member]              
Debt Instrument [Line Items]              
Debt Instrument, Face Amount         300,000    
Principal amount 300,000            
Debt Instrument, Interest Rate, Stated Percentage     3.222%        
Debt and Lease Obligation [2],[3] $ 0 299,000          
Bank Debt [Member] | 2016 Term Loan A [Member]              
Debt Instrument [Line Items]              
Debt Instrument, Face Amount           $ 2,000,000  
Debt Instrument, Interest Rate, Stated Percentage [1],[4] 1.20%            
Debt and Lease Obligation $ 1,222,000 $ 2,252,000          
Bank Debt [Member] | Senior Unsecured 364-Day Revolving Credit Facility [Domain]              
Debt Instrument [Line Items]              
Line of Credit Facility, Maximum Borrowing Capacity           1,000,000  
Line of Credit Facility [Line Items]              
Line of Credit Facility, Maximum Borrowing Capacity           1,000,000  
Bank Debt [Member] | 2016 Revolver [Member]              
Debt Instrument [Line Items]              
Principal amount         500,000    
Debt Instrument, Interest Rate, Stated Percentage [1],[4] 1.20%            
Bonds [Member] | May 2016 Senior Unsecured Notes [Member]              
Debt Instrument [Line Items]              
Debt Instrument, Face Amount         1,000,000    
Bonds [Member] | 4.875% Senior Notes [Member]              
Debt Instrument [Line Items]              
Debt Instrument, Interest Rate, Stated Percentage   4.875%          
Bonds [Member] | 4.000% Senior Unsecured Notes [Member]              
Debt Instrument [Line Items]              
Debt Instrument, Face Amount           $ 500,000  
Debt Instrument, Interest Rate, Stated Percentage 4.00% [1]         4.00%  
Debt and Lease Obligation $ 496,000 $ 496,000          
Bonds [Member] | 2016 Senior Unsecured Notes [Domain]              
Debt Instrument [Line Items]              
Debt Instrument, Face Amount         1,500,000    
Bonds [Member] | 3.400% Senior Notes [Member]              
Debt Instrument [Line Items]              
Debt Instrument, Face Amount         $ 250,000    
Debt Instrument, Interest Rate, Stated Percentage         3.40%    
Bonds [Member] | 3.700% Senior Notes [Member]              
Debt Instrument [Line Items]              
Debt Instrument, Face Amount         $ 750,000    
Debt Instrument, Interest Rate, Stated Percentage         3.70%    
Bonds [Member] | 2.250% Senior Notes [Member]              
Debt Instrument [Line Items]              
Debt Instrument, Interest Rate, Stated Percentage   2.25%          
Bonds [Member] | 4.450% Senior Notes [Member]              
Debt Instrument [Line Items]              
Debt Instrument, Face Amount         $ 900,000    
Debt Instrument, Interest Rate, Stated Percentage         4.45%    
Bonds [Member] | 4.750% Senior Unsecured Notes [Member] [Member]              
Debt Instrument [Line Items]              
Debt Instrument, Face Amount           $ 350,000  
Debt Instrument, Interest Rate, Stated Percentage 4.80% [1]         4.75%  
Debt and Lease Obligation $ 344,000 $ 344,000          
Bonds [Member] | August 2017 Senior Notes [Member]              
Debt Instrument [Line Items]              
Debt Instrument, Face Amount           $ 1,750,000  
Bonds [Member] | August 2017 Senior Unsecured 3.200% Notes [Member]              
Debt Instrument [Line Items]              
Debt Instrument, Face Amount           $ 750,000  
Debt Instrument, Interest Rate, Stated Percentage 3.20% [1]         3.20%  
Debt and Lease Obligation $ 747,000 745,000          
Bonds [Member] | August 2017 Senior Unsecured 3.650% Notes [Member]              
Debt Instrument [Line Items]              
Debt Instrument, Face Amount           $ 1,000,000  
Debt Instrument, Interest Rate, Stated Percentage 3.70% [1]         3.65%  
Debt and Lease Obligation $ 995,000 994,000          
Bonds [Member] | 3.150% Senior Notes [Member]              
Debt Instrument [Line Items]              
Debt Instrument, Face Amount       $ 750,000      
Debt Instrument, Interest Rate, Stated Percentage 3.20% [1]     3.15%      
Debt and Lease Obligation $ 747,000 746,000          
Bonds [Member] | 3.800% Senior Notes [Member]              
Debt Instrument [Line Items]              
Debt Instrument, Face Amount       $ 1,000,000      
Debt Instrument, Interest Rate, Stated Percentage 3.80% [1]     3.80%      
Debt and Lease Obligation $ 992,000 991,000          
Bonds [Member] | August 2019 Senior Notes [Domain]              
Debt Instrument [Line Items]              
Debt Instrument, Face Amount     $ 900,000        
Bonds [Member] | August 2019 Senior Unsecured 3.100% Notes [Member]              
Debt Instrument [Line Items]              
Debt Instrument, Face Amount     $ 550,000        
Debt Instrument, Interest Rate, Stated Percentage 3.10% [1]   3.10%        
Debt and Lease Obligation $ 545,000 544,000          
Bonds [Member] | August 2019 Senior Unsecured 4.000% Notes [Member]              
Debt Instrument [Line Items]              
Debt Instrument, Face Amount     $ 350,000        
Debt Instrument, Interest Rate, Stated Percentage 4.00% [1]   4.00%        
Debt and Lease Obligation $ 345,000 345,000          
Bonds [Member] | February 2019 Senior Notes [Domain]              
Debt Instrument [Line Items]              
Debt Instrument, Face Amount     $ 1,000,000        
Bonds [Member] | February 2019 Senior Unsecured 4.300% Notes [Member]              
Debt Instrument [Line Items]              
Debt Instrument, Face Amount     $ 600,000        
Debt Instrument, Interest Rate, Stated Percentage 4.30% [1]   4.30%        
Debt and Lease Obligation $ 593,000 593,000          
Bonds [Member] | February 2019 Senior Unsecured 5.200% Notes [Member]              
Debt Instrument [Line Items]              
Debt Instrument, Face Amount     $ 400,000        
Debt Instrument, Interest Rate, Stated Percentage 5.20% [1]   5.20%        
Debt and Lease Obligation $ 395,000 395,000          
Bonds [Member] | June 2020 Senior Notes [Domain]              
Debt Instrument [Line Items]              
Debt Instrument, Face Amount   2,500,000          
Bonds [Member] | June 2020 Senior Unsecured 1.350% Notes [Domain]              
Debt Instrument [Line Items]              
Debt Instrument, Face Amount   $ 500,000          
Debt Instrument, Interest Rate, Stated Percentage 1.40% [1] 1.35%          
Debt and Lease Obligation $ 496,000 $ 494,000          
Bonds [Member] | June 2020 Senior Unsecured 2.250% Notes [Domain]              
Debt Instrument [Line Items]              
Debt Instrument, Face Amount   $ 1,100,000          
Debt Instrument, Interest Rate, Stated Percentage 2.30% [1] 2.25%          
Debt and Lease Obligation $ 1,089,000 $ 1,088,000          
Bonds [Member] | June 2020 Senior Unsecured 3.250% Notes [Domain]              
Debt Instrument [Line Items]              
Debt Instrument, Face Amount   $ 900,000          
Debt Instrument, Interest Rate, Stated Percentage 3.30% [1] 3.25%          
Debt and Lease Obligation $ 890,000 $ 889,000          
Bonds [Member] | Senior Unsecured 2016 Notes 3.40% [Member]              
Debt Instrument [Line Items]              
Debt Instrument, Interest Rate, Stated Percentage   3.40%          
Bonds [Member] | April 2020 Senior Unsecured 4.150% Notes [Member]              
Debt Instrument [Line Items]              
Debt Instrument, Face Amount   $ 500,000          
Debt Instrument, Interest Rate, Stated Percentage 4.20% [1] 4.15%          
Debt and Lease Obligation $ 490,000 $ 489,000          
Bonds [Member] | April 2020 Senior Notes [Domain] [Domain]              
Debt Instrument [Line Items]              
Debt Instrument, Face Amount   1,250,000          
Bonds [Member] | 5.250% Senior Notes [Member]              
Debt Instrument [Line Items]              
Debt Instrument, Face Amount             $ 1,650,000
Debt Instrument, Interest Rate, Stated Percentage 5.25%           5.25%
Debt and Lease Obligation $ 0 1,646,000          
Collateral Pledged [Member]              
Debt Instrument [Line Items]              
Debt Instrument, PPE Collaterized Amount 855,000            
Additional Principal Incurred [Member] | Bank Debt [Member] | 2016 Term Loan A [Member]              
Debt Instrument [Line Items]              
Debt Instrument, Face Amount       $ 500,000      
February 2016 Senior Note Upsizing [Member] | Bonds [Member] | 3.400% Senior Notes [Member]              
Debt Instrument [Line Items]              
Debt Instrument, Face Amount         $ 600,000    
Debt Instrument, Interest Rate, Stated Percentage         3.40%    
Commercial Paper [Member]              
Debt Instrument [Line Items]              
Line of Credit Facility, Maximum Borrowing Capacity   1,000,000          
Commercial Paper 265,000            
Debt and Lease Obligation [5] 265,000 285,000          
Line of Credit Facility [Line Items]              
Line of Credit Facility, Maximum Borrowing Capacity   1,000,000          
Revolving Credit Facility [Member]              
Debt Instrument [Line Items]              
Line of Credit Facility, Increase (Decrease), Net   750,000 $ 750,000 1,000,000      
Line of Credit Facility, Maximum Borrowing Capacity 5,000,000 5,000,000 4,250,000 3,500,000   $ 2,500,000  
Debt and Lease Obligation 665,000 [6] 290,000          
Line of Credit Facility [Line Items]              
Line of Credit Facility, Maximum Borrowing Capacity $ 5,000,000 $ 5,000,000 $ 4,250,000 $ 3,500,000   $ 2,500,000  
[1] Represents the weighted-average stated interest rate.
[2] 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.
[3] 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."
[4] 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.
[5] 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.
[6] As of December 31, 2021, the undrawn availability under the 2016 Revolver was $4.3 billion.