Revenues
The following table is a summary of the contracted amounts owed to the Company by tenants pursuant to tenant contracts in effect as of December 31, 2025. As of December 31, 2025, the weighted-average remaining term of tenant contracts was approximately six years, exclusive of renewals exercisable at the tenant's option.
Years Ending December 31,
20262027202820292030ThereafterTotal
Contracted amounts(a)(b)
$3,777 $3,810 $3,668 $2,961 $2,778 $6,661 $23,655 
(a)Excludes amounts related to services, as those contracts generally have a duration of one year or less.
(b)Excludes approximately $3.5 billion due from DISH Wireless L.L.C ("DISH") following the notice of default and termination of the DISH Master Lease Agreement and underlying agreements delivered on January 12, 2026. See note 18 for further information.
See notes 2 and 14 for further discussion regarding the Company's lessor arrangements and note 15 for further information regarding the Company's single operating segment.

Historical Timeline

Fiscal YearFiled
2025Feb 23, 2026Showing above
2024Mar 14, 2025
2023Feb 23, 2024
2022Feb 24, 2023
2021Feb 22, 2022
2020Feb 22, 2021
2019Mar 10, 2020
2018Feb 25, 2019

About Revenue Disclosures

Revenue disclosures under ASC 606 explain how a company identifies performance obligations, allocates transaction prices, and determines when revenue is recognized. This section is essential for understanding whether reported revenue reflects genuine economic activity or aggressive accounting choices. Analysts examine the mix of point-in-time versus over-time recognition, which directly affects revenue timing and comparability.

Key signals: rising contract liabilities (deferred revenue) suggest strong future revenue visibility, while declining contract assets may indicate slowing project milestones. Watch for variable consideration estimates — rebates, returns, and performance bonuses that require management judgment. Significant changes in disaggregated revenue by geography or product line can reveal shifting business mix before it appears in headline numbers. Compare revenue growth against contract liability growth to assess sustainability, and scrutinize any changes in the timing of recognition that coincide with earnings pressure.