Business and Summary of Significant Accounting Principles (Tables)
|
12 Months Ended |
Dec. 31, 2015 |
|---|
| Accounting Policies [Abstract] |
|
| Schedule of Consideration Transferred to Acquire Assets and Interest [Table Text Block] |
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):
|
|
|
|
|
|
|
Total consideration transfered to ACS |
|
$ |
304,838 |
|
|
|
|
Allocation of consideration between wireless assets and non-controlling interest acquired: |
|
|
AWN non-controlling interest |
|
$ |
303,831 |
|
Property and equipment |
|
746 |
|
Other intangible assets |
|
261 |
|
Total consideration |
|
$ |
304,838 |
|
|
| Changes in Noncontrolling Interest [Table Text Block] |
The impact of the AWN NCI Acquisition is summarized in the following table (amounts in thousands):
|
|
|
|
|
|
|
Reduction of non-controlling interest |
|
$ |
268,364 |
|
Increase in deferred tax assets |
|
24,028 |
|
Additional paid-in capital |
|
11,439 |
|
Fair value of consideration paid for acquisition of equity interest |
|
$ |
303,831 |
|
|
| Schedule of Recognized Identified Assets Acquired and Liabilities Assumed |
The following table summarizes the final purchase price and the estimated fair value of ACS’s assets acquired and liabilities assumed, effective July 23, 2013 (amounts in thousands):
|
|
|
|
|
|
Purchase price: |
|
Final Purchase Price Allocation |
Cash consideration paid |
|
100,000 |
|
Fair value of the one-third ownership interest of AWN |
|
265,511 |
|
Total purchase price |
|
365,511 |
|
|
|
|
Assets acquired and liabilities assumed: |
|
|
Current assets |
|
16,963 |
|
Property and equipment, including construction in progress |
|
82,611 |
|
Goodwill |
|
148,948 |
|
Wireless licenses |
|
60,380 |
|
Rights to use capacity |
|
45,338 |
|
Other assets |
|
17,282 |
|
Liabilities assumed |
|
(6,011 |
) |
Total fair value of assets acquired and liabilities assumed |
|
365,511 |
|
|
| Pro Forma Information |
The following unaudited pro forma financial information is presented as if the acquisition occurred on January 1, 2013 (amounts in thousands):
|
|
|
|
|
|
(unaudited) |
|
Year Ended
December 31, |
|
2013 |
Pro forma consolidated revenue |
$ |
897,270 |
|
|
| Schedule of Calculation of Numerator and Denominator in Earnings Per Share |
Earnings 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):
|
|
|
|
|
|
|
|
|
Year Ended December 31, 2015 |
|
Class A |
|
Class B |
Basic net loss per share: |
|
|
|
Numerator: |
|
|
|
Net loss available to common stockholders |
$ |
(23,858 |
) |
|
(2,167 |
) |
Less: Undistributed income allocable to participating securities |
— |
|
|
— |
|
Undistributed loss allocable to common stockholders |
(23,858 |
) |
|
(2,167 |
) |
|
|
|
|
Denominator: |
|
|
|
Weighted average common shares outstanding |
34,764 |
|
|
3,157 |
|
Basic net loss attributable to GCI common stockholders per common share |
$ |
(0.69 |
) |
|
(0.69 |
) |
|
|
|
|
Diluted net loss per share: |
|
|
|
Numerator: |
|
|
|
Undistributed loss allocable to common stockholders for basic computation |
$ |
(23,858 |
) |
|
(2,167 |
) |
Reallocation of undistributed loss as a result of conversion of Class B to Class A shares |
(2,167 |
) |
|
— |
|
Net loss adjusted for allocation of undistributed earnings and effect of contracts that may be settled in cash or shares |
$ |
(26,025 |
) |
|
(2,167 |
) |
|
|
|
|
Denominator: |
|
|
|
Number of shares used in basic computation |
34,764 |
|
|
3,157 |
|
Conversion of Class B to Class A common shares outstanding |
3,157 |
|
|
— |
|
Number of shares used in per share computation |
37,921 |
|
|
3,157 |
|
Diluted net loss attributable to GCI common stockholders per common share |
$ |
(0.69 |
) |
|
(0.69 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Years Ended December 31, |
|
2014 |
|
2013 |
|
Class A |
|
Class B |
|
Class A |
|
Class B |
Basic net income per share: |
|
|
|
|
|
|
|
Numerator: |
|
|
|
|
|
|
|
Net income available to common stockholders |
$ |
6,980 |
|
|
577 |
|
|
8,678 |
|
|
728 |
|
Less: Undistributed income allocable to participating securities |
(385 |
) |
|
— |
|
|
(354 |
) |
|
— |
|
Undistributed income allocable to common stockholders |
$ |
6,595 |
|
|
577 |
|
|
8,324 |
|
|
728 |
|
|
|
|
|
|
|
|
|
Denominator: |
|
|
|
|
|
|
|
Weighted average common shares outstanding |
36,112 |
|
|
3,162 |
|
|
36,194 |
|
|
3,166 |
|
Basic net income attributable to GCI common stockholders per common share |
$ |
0.18 |
|
|
0.18 |
|
|
0.23 |
|
|
0.23 |
|
|
|
|
|
|
|
|
|
Diluted net income per share: |
|
|
|
|
|
|
|
Numerator: |
|
|
|
|
|
|
|
Undistributed income allocable to common stockholders for basic computation |
$ |
6,595 |
|
|
577 |
|
|
8,324 |
|
|
728 |
|
Reallocation of undistributed earnings as a result of conversion of Class B to Class A shares |
577 |
|
|
— |
|
|
728 |
|
|
— |
|
Reallocation of undistributed earnings as a result of conversion of dilutive securities |
1 |
|
|
(2 |
) |
|
1 |
|
|
(3 |
) |
Net income adjusted for allocation of undistributed earnings and effect of contracts that may be settled in cash or shares |
$ |
7,173 |
|
|
575 |
|
|
9,053 |
|
|
725 |
|
|
|
|
|
|
|
|
|
Denominator: |
|
|
|
|
|
|
|
Number of shares used in basic computation |
36,112 |
|
|
3,162 |
|
|
36,194 |
|
|
3,166 |
|
Conversion of Class B to Class A common shares outstanding |
3,162 |
|
|
— |
|
|
3,166 |
|
|
— |
|
Unexercised stock options |
112 |
|
|
— |
|
|
142 |
|
|
— |
|
Number of shares used in per share computation |
39,386 |
|
|
3,162 |
|
|
39,502 |
|
|
3,166 |
|
Diluted net income attributable to GCI common stockholders per common share |
$ |
0.18 |
|
|
0.18 |
|
|
0.23 |
|
|
0.23 |
|
|
| Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share |
Weighted average shares associated with outstanding securities for the years ended December 31, 2015, 2014 and 2013 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):
|
|
|
|
|
|
|
|
|
|
|
Years Ended December 31, |
|
2015 |
|
2014 |
|
2013 |
Derivative instrument that may be settled in cash or shares |
724 |
|
|
— |
|
|
— |
|
Shares associated with unexercised stock options |
108 |
|
|
29 |
|
|
86 |
|
Share-based compensation that may be settled in cash or shares |
26 |
|
|
26 |
|
|
90 |
|
Total excluded |
858 |
|
|
55 |
|
|
176 |
|
|
| Schedule of Stock by Class |
Following are the changes in issued common stock for the years ended December 31, 2015, 2014 and 2013 (shares, in thousands):
|
|
|
|
|
|
|
|
Class A |
|
Class B |
Balances at January 1, 2013 |
38,534 |
|
|
3,169 |
|
Class B shares converted to Class A |
4 |
|
|
(4 |
) |
Shares issued upon stock option exercises |
87 |
|
|
— |
|
Share awards issued |
680 |
|
|
— |
|
Shares repurchased and retired |
(1,822 |
) |
|
— |
|
Shares acquired to settle minimum statutory tax withholding requirements and subsequently retired |
(147 |
) |
|
— |
|
Other |
(37 |
) |
|
— |
|
Balances at December 31, 2013 |
37,299 |
|
|
3,165 |
|
Class B shares converted to Class A |
6 |
|
|
(6 |
) |
Shares issued upon stock option exercises |
51 |
|
|
— |
|
Share awards issued |
1,267 |
|
|
— |
|
Shares repurchased and retired |
(429 |
) |
|
— |
|
Shares acquired to settle minimum statutory tax withholding requirements and subsequently retired |
(196 |
) |
|
— |
|
Balances at December 31, 2014 |
37,998 |
|
|
3,159 |
|
Class B shares converted to Class A |
5 |
|
|
(5 |
) |
Shares issued upon stock option exercises |
219 |
|
|
— |
|
Share awards issued |
688 |
|
|
— |
|
Shares repurchased and retired |
(2,983 |
) |
|
— |
|
Shares acquired to settle minimum statutory tax withholding requirements and subsequently retired |
(334 |
) |
|
— |
|
Balances at December 31, 2015 |
35,593 |
|
|
3,154 |
|
|
| Property Plant and Equipment Useful Life |
Depreciation is computed using the straight-line method based upon the shorter of the estimated useful lives of the assets or the lease term, if applicable, in the following ranges:
|
|
|
Asset Category |
Asset Lives |
Telephony transmission equipment and distribution facilities |
5-20 years |
Fiber optic cable systems |
15-25 years |
Cable transmission equipment and distribution facilities |
5-30 years |
Support equipment and systems |
3-20 years |
Transportation equipment |
5-13 years |
Property and equipment under capital leases |
12-20 years |
Buildings |
25 years |
Customer premise equipment |
2-20 years |
Studio equipment |
10-15 years |
|
| Schedule of Asset Retirement Obligations |
Following is a reconciliation of the beginning and ending aggregate carrying amounts of our liability for asset retirement obligations (amounts in thousands):
|
|
|
|
|
Balance at December 31, 2013 |
$ |
26,802 |
|
Liability incurred |
4,268 |
|
Accretion expense |
1,249 |
|
Revision in estimate |
(355 |
) |
Liability settled |
(24 |
) |
Balance at December 31, 2014 |
31,940 |
|
Liability incurred |
2,048 |
|
Accretion expense |
1,121 |
|
Liability settled |
(49 |
) |
Balance at December 31 2015 |
$ |
35,060 |
|
|
| Excise and Sales Taxes |
The following are certain surcharges reported on a gross basis in our Consolidated Statements of Operations (amounts in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
Years Ended December 31, |
|
2015 |
|
2014 |
|
2013 |
Surcharges reported gross |
$ |
5,058 |
|
|
4,252 |
|
|
4,644 |
|
|