Business and Summary of Significant Accounting Principles (Tables)
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9 Months Ended |
Sep. 30, 2015 |
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| Organization, Consolidation and Presentation of Financial Statements [Abstract] |
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| Schedule of Error Corrections and Prior Period Adjustments [Table Text Block] |
The impact of the immaterial classification error for the prior periods is as follows (amounts in thousands):
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Consolidated Statements of Cash Flows for the three months ended March 31, 2015 |
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As Previously Reported |
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Adjustment |
|
As Revised |
Net cash used for investing activities |
$ |
(328,682 |
) |
|
280,505 |
|
|
(48,177 |
) |
Net cash provided by financing activities |
|
281,370 |
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|
(280,505 |
) |
|
865 |
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Consolidated Statements of Cash Flows for the six months ended June 30, 2015 |
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Net cash used for investing activities |
$ |
(372,469 |
) |
|
280,505 |
|
|
(91,964 |
) |
Net cash provided (used) by financing activities |
|
251,698 |
|
|
(280,505 |
) |
|
(28,807 |
) |
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| Schedule of Recognized Identified Assets Acquired and Liabilities Assumed |
The following table summarizes the allocation of total consideration transferred to ACS between the AWN NCI Acquisition and the Acquired ACS Assets excluding working capital adjustments (amounts in thousands):
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Total consideration transfered to ACS |
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$ |
304,838 |
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Allocation of consideration between wireless assets and non-controlling interest acquired: |
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AWN non-controlling interest |
|
$ |
303,831 |
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Property and equipment |
|
746 |
|
Other intangible assets |
|
261 |
|
Total consideration |
|
$ |
304,838 |
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| Schedule of Business Acquisitions, by Acquisition |
The impact of the AWN NCI Acquisition is summarized in the following table (amounts in thousands):
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Reduction of non-controlling interest |
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$ |
268,364 |
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Additional paid-in capital |
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35,467 |
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Fair value of consideration paid for acquisition of equity interest |
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$ |
303,831 |
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| Schedule of Calculation of Numerator and Denominator in Earnings Per Share |
Earnings (loss) per common share (“EPS”) and common shares used to calculate basic and diluted EPS consist of the following (amounts in thousands, except per share amounts):
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Three Months Ended September 30, |
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2015 |
|
2014 |
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Class A |
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Class B |
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Class A |
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Class B |
Basic net income per share: |
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Numerator: |
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Net income available to common stockholders |
$ |
16,213 |
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|
1,418 |
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$ |
9,161 |
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|
754 |
|
Less: Undistributed income allocable to participating securities |
(920 |
) |
|
— |
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|
(526 |
) |
|
— |
|
Undistributed income allocable to common stockholders |
15,293 |
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|
1,418 |
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|
8,635 |
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|
754 |
|
Denominator: |
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Weighted average common shares outstanding |
34,031 |
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|
3,155 |
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36,220 |
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|
3,162 |
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Basic net income attributable to GCI common stockholders per common share |
$ |
0.45 |
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|
0.45 |
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$ |
0.24 |
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|
0.24 |
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Three Months Ended September 30, |
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2015 |
|
2014 |
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Class A |
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Class B |
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Class A |
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Class B |
Diluted net income per share: |
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Numerator: |
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Undistributed income allocable to common stockholders for basic computation |
$ |
15,293 |
|
|
1,418 |
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|
$ |
8,635 |
|
|
754 |
|
Reallocation of undistributed earnings as a result of conversion of Class B to Class A shares |
1,418 |
|
|
— |
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|
754 |
|
|
— |
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Reallocation of undistributed earnings as a result of conversion of dilutive securities |
22 |
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|
(34 |
) |
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2 |
|
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(3 |
) |
Effect of derivative instruments that may be settled in cash or shares |
(18 |
) |
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— |
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— |
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— |
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Effect of share based compensation that may be settled in cash or shares |
4 |
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— |
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(3 |
) |
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— |
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Net income adjusted for allocation of undistributed earnings and effect of contracts that may be settled in cash or shares |
$ |
16,719 |
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|
1,384 |
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$ |
9,388 |
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|
751 |
|
Denominator: |
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Number of shares used in basic computation |
34,031 |
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|
3,155 |
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|
36,220 |
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|
3,162 |
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Conversion of Class B to Class A common shares outstanding |
3,155 |
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|
— |
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|
3,162 |
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|
— |
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Unexercised stock options |
122 |
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— |
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|
120 |
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— |
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Effect of derivative instruments that may be settled in cash or shares |
781 |
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|
— |
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— |
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|
— |
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Effect of share based compensation that may be settled in cash or shares |
26 |
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|
— |
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|
26 |
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|
— |
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Number of shares used in per share computation |
38,115 |
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|
3,155 |
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|
39,528 |
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|
3,162 |
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Diluted net income attributable to GCI common stockholders per common share |
$ |
0.44 |
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|
0.44 |
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$ |
0.24 |
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|
0.24 |
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Nine Months Ended September 30, 2015 |
|
2015 |
|
2014 |
|
Class A |
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Class B |
|
Class A |
|
Class B |
Basic net income (loss) per share: |
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|
|
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Numerator: |
|
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|
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|
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Net income (loss) available to common stockholders |
$ |
(15,838 |
) |
|
(1,427 |
) |
|
$ |
15,686 |
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|
1,296 |
|
Less: Undistributed income allocable to participating securities |
— |
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|
— |
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|
(868 |
) |
|
— |
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Undistributed income (loss) allocable to common stockholders |
(15,838 |
) |
|
(1,427 |
) |
|
14,818 |
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|
1,296 |
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Denominator: |
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Weighted average common shares outstanding |
35,037 |
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|
3,158 |
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|
36,149 |
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|
3,162 |
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Basic net income (loss) attributable to GCI common stockholders per common share |
$ |
(0.45 |
) |
|
(0.45 |
) |
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$ |
0.41 |
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|
0.41 |
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Nine Months Ended September 30, 2015 |
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2015 |
|
2014 |
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Class A |
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Class B |
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Class A |
|
Class B |
Diluted net income (loss) per share: |
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Numerator: |
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Undistributed income (loss) allocable to common stockholders for basic computation |
$ |
(15,838 |
) |
|
(1,427 |
) |
|
$ |
14,818 |
|
|
1,296 |
|
Reallocation of undistributed earnings (loss) as a result of conversion of Class B to Class A shares |
(1,427 |
) |
|
— |
|
|
1,296 |
|
|
— |
|
Reallocation of undistributed earnings as a result of conversion of dilutive securities |
— |
|
|
— |
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|
3 |
|
|
(5 |
) |
Effect of share based compensation that may be settled in cash or shares |
— |
|
|
— |
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|
(4 |
) |
|
— |
|
Net income (loss) adjusted for allocation of undistributed earnings and effect of contracts that may be settled in cash or shares |
$ |
(17,265 |
) |
|
(1,427 |
) |
|
$ |
16,113 |
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|
1,291 |
|
Denominator: |
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Number of shares used in basic computation |
35,037 |
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3,158 |
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|
36,149 |
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|
3,162 |
|
Conversion of Class B to Class A common shares outstanding |
3,158 |
|
|
— |
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|
3,162 |
|
|
— |
|
Unexercised stock options |
— |
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|
— |
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|
120 |
|
|
— |
|
Effect of share based compensation that may be settled in cash or shares |
— |
|
|
— |
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|
26 |
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|
— |
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Number of shares used in per share computation |
38,195 |
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3,158 |
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|
39,457 |
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3,162 |
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Diluted net income (loss) attributable to GCI common stockholders per common share |
$ |
(0.45 |
) |
|
(0.45 |
) |
|
$ |
0.41 |
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|
0.41 |
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| Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share |
Weighted average shares associated with outstanding securities for the three and nine months ended September 30, 2015 and 2014, which have been excluded from the computations of diluted EPS, because the effect of including these securities would have been anti-dilutive, consist of the following (shares, in thousands):
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Three Months Ended
September 30, |
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Nine Months Ended September 30, |
|
2015 |
|
2014 |
|
2015 |
|
2014 |
Derivative instruments that may be settled in cash or shares, the effect of which is anti-dilutive |
— |
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|
— |
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|
595 |
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|
— |
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Shares associated with anti-dilutive unexercised stock options |
— |
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|
28 |
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|
120 |
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|
30 |
|
Share-based compensation that may be settled in cash or shares, the effect of which is anti-dilutive |
— |
|
|
— |
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26 |
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— |
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Total excluded |
— |
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|
28 |
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|
741 |
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|
30 |
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| Schedule of Stock by Class |
Following are the changes in issued common stock for the nine months ended September 30, 2015 and 2014 (shares, in thousands):
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Class A |
|
Class B |
Balances at December 31, 2013 |
37,299 |
|
|
3,165 |
|
Class B shares converted to Class A |
3 |
|
|
(3 |
) |
Shares issued upon stock option exercises |
40 |
|
|
— |
|
Share awards issued |
1,186 |
|
|
— |
|
Shares retired |
(148 |
) |
|
— |
|
Shares acquired to settle minimum statutory tax withholding requirements |
(37 |
) |
|
— |
|
Balances at September 30, 2014 |
38,343 |
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|
3,162 |
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Balances at December 31, 2014 |
37,998 |
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|
3,159 |
|
Class B shares converted to Class A |
5 |
|
|
(5 |
) |
Shares issued upon stock option exercises |
38 |
|
|
— |
|
Share awards issued |
647 |
|
|
— |
|
Shares retired |
(2,761 |
) |
|
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|
Shares acquired to settle minimum statutory tax withholding requirements |
(77 |
) |
|
— |
|
Balances at September 30, 2015 |
35,850 |
|
|
3,154 |
|
|
| Excise And Sales Taxes |
The following are certain surcharges reported on a gross basis in our Consolidated Statements of Operations (amounts in thousands):
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Three Months Ended
September 30, |
|
Nine Months Ended September 30, |
|
2015 |
|
2014 |
|
2015 |
|
2014 |
Surcharges reported gross |
$ |
1,426 |
|
|
990 |
|
|
3,960 |
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|
3,224 |
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|