| Schedule of Quarterly Financial Information |
The following is a summary of unaudited quarterly results of operations for the years ended December 31, 2014 and 2013 including the impact of the immaterial error correction adjustments discussed above (amounts in thousands, except per share amounts):
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As of March 31, 2014 |
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As of June 30, 2014 |
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As of September 30, 2014 |
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Previously reported |
Correction |
As adjusted |
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Previously reported |
Correction |
As adjusted |
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Previously reported |
Correction |
As adjusted |
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Deferred income tax liability |
$ |
158,104 |
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981 |
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159,085 |
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166,665 |
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3,209 |
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169,874 |
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160,799 |
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5,806 |
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166,605 |
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Total liabilities |
$ |
1,550,989 |
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981 |
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1,551,970 |
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1,595,683 |
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3,209 |
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1,598,892 |
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1,556,394 |
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5,806 |
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1,562,200 |
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Retained earnings |
$ |
119,111 |
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(981 |
) |
118,130 |
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127,266 |
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(3,209 |
) |
124,057 |
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139,778 |
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(5,806 |
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133,972 |
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Total GCI stockholders' equity |
$ |
161,380 |
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(981 |
) |
160,399 |
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171,748 |
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(3,209 |
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168,539 |
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185,150 |
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(5,806 |
) |
179,344 |
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Total stockholders' equity |
$ |
458,811 |
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(981 |
) |
457,830 |
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465,461 |
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(3,209 |
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462,252 |
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482,295 |
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(5,806 |
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476,489 |
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First Quarter |
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Second Quarter |
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Third Quarter |
Fourth Quarter |
2014 |
Previously reported |
Correction |
As adjusted |
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Previously reported |
Correction |
As adjusted |
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Previously reported |
Correction |
As adjusted |
Total revenues |
$ |
216,283 |
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— |
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216,283 |
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224,399 |
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— |
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224,399 |
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240,725 |
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— |
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240,725 |
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228,791 |
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Operating income |
$ |
30,265 |
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— |
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30,265 |
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38,414 |
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— |
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38,414 |
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49,336 |
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— |
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49,336 |
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25,547 |
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Income tax expense |
$ |
(215 |
) |
(981 |
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(1,196 |
) |
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(127 |
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(2,228 |
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(2,355 |
) |
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(2,481 |
) |
(2,597 |
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(5,078 |
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(1,400 |
) |
Net income |
$ |
11,742 |
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(981 |
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10,761 |
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19,068 |
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(2,228 |
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16,840 |
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28,444 |
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(2,597 |
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25,847 |
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5,796 |
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Net income (loss) attributable to GCI |
$ |
2,121 |
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(981 |
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1,140 |
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8,155 |
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(2,228 |
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5,927 |
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12,512 |
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(2,597 |
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9,915 |
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(9,425 |
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Basic net income (loss) attributable to GCI per common share |
$ |
0.05 |
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(0.02 |
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0.03 |
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0.20 |
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(0.06 |
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0.14 |
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0.30 |
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(0.06 |
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0.24 |
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(0.24 |
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Diluted net income (loss) attributable to GCI per common share |
$ |
0.05 |
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(0.02 |
) |
0.03 |
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0.20 |
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(0.06 |
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0.14 |
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0.30 |
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(0.06 |
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0.24 |
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(0.24 |
) |
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2013 |
First Quarter |
Second Quarter |
Third Quarter |
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Fourth Quarter |
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Total revenues |
$ |
186,216 |
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189,661 |
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217,943 |
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217,828 |
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Operating income |
$ |
23,060 |
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25,695 |
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38,684 |
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25,423 |
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Net income (loss) attributable to GCI |
$ |
3,244 |
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4,180 |
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8,905 |
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(6,923 |
) |
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Basic net income (loss) attributable to GCI per common share |
$ |
0.08 |
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0.10 |
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0.22 |
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(0.17 |
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Diluted net income (loss) attributable to GCI per common share |
$ |
0.08 |
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0.10 |
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0.22 |
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(0.17 |
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