View Filing Data

Three Months Ended
March 31,

(in thousands)

Awards excluded from the computation of diluted net income per share because their inclusion would have been anti-dilutive

Print Document View Excel Document

Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Mar. 31, 2018	Apr. 27, 2018
Document and Entity Information [Abstract]
Entity Registrant Name	SHENANDOAH TELECOMMUNICATIONS CO/VA/
Entity Central Index Key	0000354963
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Mar. 31, 2018
Document Fiscal Year Focus	2018
Document Fiscal Period Focus	Q1
Amendment Flag	false
Entity Common Stock, Shares Outstanding		49,539,170

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Current Assets:
Cash and cash equivalents	$ 49,448	$ 78,585
Accounts receivable, net	51,095	54,184
Income taxes receivable	8,360	17,311
Inventory, net	8,161	5,704
Prepaid expenses and other	64,200	17,111
Total current assets	181,264	172,895
Investments, including $3,268 and $3,279 carried at fair value	11,717	11,472
Property, plant and equipment, net	672,017	686,327
Other Assets:
Intangible assets, net	413,537	380,979
Goodwill	146,497	146,497
Deferred charges and other assets, net	33,934	13,690
Total assets	1,458,966	1,411,860
Current Liabilities
Current maturities of long-term debt, net of unamortized loan fees	74,486	64,397
Accounts payable	27,194	28,953
Advanced billings and customer deposits	6,919	21,153
Accrued compensation	4,534	9,167
Accrued liabilities and other	17,471	13,914
Total current liabilities	130,604	137,584
Long-term debt, less current maturities, net of unamortized loan fees	736,387	757,561
Other Long-Term Liabilities
Deferred income taxes	115,809	100,879
Deferred lease	19,543	15,782
Asset retirement obligations	21,164	21,211
Retirement plan obligations	13,236	13,328
Other liabilities	13,787	15,293
Total other long-term liabilities	183,539	166,493
Shareholders’ Equity
Common stock	45,075	44,787
Retained earnings	352,069	297,205
Accumulated other comprehensive income (loss), net of taxes	11,292	8,230
Total shareholders’ equity	408,436	350,222
Total liabilities and shareholders’ equity	$ 1,458,966	$ 1,411,860

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Statement of Financial Position [Abstract]
Investments carried at fair value	$ 3,268	$ 3,279
Common stock, par value (in usd per share)	$ 0	$ 0
Common stock, shares authorized (in shares)	96,000,000	96,000,000
Common stock, shares issued (in shares)	49,539,000	49,328,000
Common stock, shares outstanding (in shares)	49,539,000	49,328,000

- Definition

Fair value portion of investment securities, including, but not limited to, marketable securities, derivative financial instruments, and investments accounted for under the equity method.

+ References + Details

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Income Statement [Abstract]
Service revenues and other	$ 134,153	$ 150,521
Equipment revenues	17,579	3,359
Total operating revenues	151,732	153,880
Operating expenses:
Cost of services	49,342	48,776
Cost of goods sold	15,805	4,985
Selling, general and administrative	28,750	40,153
Acquisition, integration and migration expenses	0	4,489
Depreciation and amortization	43,487	44,804
Total operating expenses	137,384	143,207
Operating income (loss)	14,348	10,673
Other income (expense):
Interest expense	(9,332)	(9,100)
Gain (loss) on investments, net	(32)	120
Non-operating income (loss), net	1,021	1,255
Income (loss) before income taxes	6,005	2,948
Income tax expense (benefit)	1,176	607
Net income (loss)	4,829	2,341
Other comprehensive income (loss):
Unrealized gain (loss) on interest rate hedge, net of tax	3,062	599
Comprehensive income (loss)	$ 7,891	$ 2,940
Earnings (loss) per share:
Basic (in dollars per share)	$ 0.10	$ 0.05
Diluted (in dollars per share)	$ 0.10	$ 0.05
Weighted average shares outstanding, basic (in shares)	49,474	49,050
Weighted average shares outstanding, diluted (in shares)	50,024	49,834

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - 3 months ended Mar. 31, 2018 - USD ($) shares in Thousands, $ in Thousands	Total	Shares of Common Stock (no par value)	Additional Paid in Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss)
Beginning balance (in shares) at Dec. 31, 2017	49,328	49,328
Beginning balance at Dec. 31, 2017	$ 350,222		$ 44,787	$ 297,205	$ 8,230
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	4,829			4,829
Other comprehensive gain (loss), net of tax of $1.1 million	3,062				3,062
Other comprehensive income (loss), tax	1,100
Stock based compensation (in shares)		177
Stock based compensation	2,037		2,037
Stock options exercised (in shares)		15
Stock options exercised	104		104
Common stock issued (in shares)		0
Common stock issued	5		5
Shares retired for settlement of employee taxes upon issuance of vested equity awards (in shares)		(57)
Shares retired for settlement of employee taxes upon issuance of vested equity awards	(1,858)		(1,858)
Common stock issued to acquire non-controlling interests of nTelos (in shares)		76
Common stock issued to acquire non-controlling interests of nTelos	$ 0		0
Ending balance (in shares) at Mar. 31, 2018	49,539	49,539
Ending balance at Mar. 31, 2018	$ 408,436		$ 45,075	352,069	$ 11,292
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Change in accounting principle - adoption of accounting standard (Note 2)	$ 50,035			$ 50,035

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Cash Flows From Operating Activities
Net income (loss)	$ 4,829	$ 2,341
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation	36,634	37,878
Amortization reflected as operating expense	6,853	6,926
Amortization reflected as rent expense	81	258
Bad debt expense	369	420
Stock based compensation expense, net of amount capitalized	2,037	1,566
Waived Management Fee	9,048	9,184
Deferred income taxes	(4,336)	(2,910)
Net (gain) loss on disposal of equipment	(4)	(28)
(Gain) loss on investments	(33)	120
Net (gain) loss from patronage and equity investments	(830)	(200)
Amortization of long-term debt issuance costs	1,129	1,202
Accrued interest on long-term debt	296	93
Changes in assets and liabilities:
Accounts receivable	3,271	1,629
Inventory, net	(2,457)	14,188
Income taxes receivable	8,950	0
Other assets	(4,076)	(190)
Accounts payable	216	(39,399)
Income taxes payable	0	3,523
Deferred lease	736	1,331
Other deferrals and accruals	(1,919)	(13,194)
Net cash provided by (used in) operating activities	60,860	24,498
Cash Flows From Investing Activities
Acquisition of property, plant and equipment	(24,382)	(38,587)
Proceeds from sale of assets	263	117
Cash distributions (contributions) from investments	1	(11)
Sprint expansion	52,000	0
Net cash provided by (used in) investing activities	(76,118)	(38,481)
Cash Flows From Financing Activities
Principal payments on long-term debt	(12,125)	(6,062)
Amounts borrowed under debt agreements	0	25,000
Proceeds from revolving credit facility borrowings	15,000	0
Principal payments on revolving credit facility	(15,000)	0
Taxes paid for equity award issuances	1,754	1,226
Proceeds from issuance of common stock	0	5
Net cash provided by (used in) financing activities	(13,879)	17,717
Net increase (decrease) in cash and cash equivalents	(29,137)	3,734
Cash and cash equivalents, beginning of period	78,585	36,193
Cash and cash equivalents, end of period	49,448	39,927
Cash payments for:
Interest, net of capitalized interest of $309 and $577, respectively	8,513	8,380
Income taxes paid, net of refunds received	(3,439)	0
Capital expenditures payable	$ 5,279	$ 6,366

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Other cash flow information:
Capitalized interest	$ 309	$ 577

Basis of Presentation	3 Months Ended
Basis of Presentation	Mar. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The interim condensed consolidated financial statements of Shenandoah Telecommunications Company and Subsidiaries (collectively, the “Company”) are unaudited. In the opinion of management, all adjustments necessary for a fair presentation of the interim results have been reflected therein in accordance with accounting principles generally accepted in the United States ("GAAP") for interim financial reporting and as required by Rule 10-01 of Regulation S-X. Accordingly, the unaudited condensed consolidated financial statements may not include all of the information and notes required by GAAP for audited financial statements. The information contained herein should be read in conjunction with the audited financial statements included in the Company's Annual Report on Form 10-K for the year ended December 31, 2017. Adoption of New Accounting Principles There have been no developments related to recently issued accounting standards, including the expected dates of adoption and estimated effects on the Company's unaudited condensed consolidated financial statements and note disclosures, from those disclosed in the Company's 2017 Annual Report on Form 10-K, that would be expected to impact the Company except for the topics discussed below. The Company adopted ASU 2014-09, Revenue from Contracts with Customers (“Topic 606”), and all related amendments, effective January 1, 2018, using the modified retrospective method as discussed in Note 2, Revenue from Contracts with Customers. The Company recognized the cumulative effect of applying the new revenue standard as an adjustment to the opening balance of retained earnings. The comparative information has not been retrospectively modified and continues to be reported under the accounting standards in effect for those periods. In February 2016, the Financial Accounting Standards Board ("FASB") issued ASU No. 2016-02, Leases (Topic 842), which requires lessees to recognize a right-of-use asset and a lease liability for all leases with terms greater than 12 months. The standard also requires disclosures by lessees and lessors about the amount, timing and uncertainty of cash flows arising from leases, as well as changes in the categorization of rental costs, from rent expense to interest and depreciation expense. Other effects may occur depending on the types of leases and the specific terms of them utilized by particular lessees. The ASU is effective for the Company on January 1, 2019, and early application is permitted. Modified retrospective application is required. In September 2017 and January 2018, the FASB issued ASU No. 2017-13, Revenue Recognition (Topic 605), Revenue from Contracts with Customers (Topic 606), Leases (Topic 840), and Leases (Topic 842), and ASU No. 2018-01, Leases (Topic 842), Land Easement Practical Expedient for Transition to Topic 842, which provided additional implementation guidance on the previously issued ASU. Management has not yet completed its assessment of the impact of the new standard on the Company’s Consolidated Financial Statements. The Company is in the early stages of implementation and currently believes that the most notable impact to its financial statements upon the adoption of this ASU will be the recognition of a material right-of-use asset and a lease liability for its real estate and equipment leases. In February 2018, the FASB issued ASU No. 2018-02, "Income Statement - Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income" (ASU 2018-02). Under existing U.S. GAAP, the effects of changes in tax rates and laws on deferred tax balances are recorded as a component of income tax expense in the period in which the law was enacted. When deferred tax balances related to items originally recorded in accumulated other comprehensive income are adjusted, certain tax effects become stranded in accumulated other comprehensive income. The amendments in ASU 2018-02 allow a reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from the 2017 Tax Cuts and Jobs Act. The amendments in this ASU also require certain disclosures about stranded tax effects. The guidance is effective for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. Early adoption in any period is permitted. The Company is currently evaluating the timing and impact of adopting ASU 2018-02.

Revenue Recognition

3 Months Ended

Mar. 31, 2018

Revenue from Contract with Customer [Abstract]

Revenue Recognition

Revenue from Contracts with Customers

The Company earns revenue primarily through the sale of our wireless telecommunications services, wireless equipment, and business, residential, and enterprise cable and wireline services that include video, internet, voice, and data services as follows:



(in thousands)	Wireless			Cable			Wireline			Consolidated
Wireless service	$	89,760		$	—		$	—		$	89,760
Wireless equipment	17,374			—			—			17,374
Business, residential and enterprise	—			29,131			10,691			39,822
Tower	2,896			1,046			5,665			9,607
Other	368			1,534			3,351			5,253
Total revenue	110,398			31,711			19,707			161,816
Internal revenues	(1,239		)	(1,031		)	(7,814		)	(10,084		)
Total operating revenue	$	109,159		$	30,680		$	11,893		$	151,732

Wireless service

The majority of the Company's revenue is earned through providing network access to Sprint under the affiliate agreement, which represents approximately 59% of consolidated revenues. Wireless service revenue is variable based on billed revenues to Sprint’s subscribers in the Company's affiliate area, less applicable fees retained by Sprint. The Company's fee related to Sprint’s postpaid customers is the amount Sprint bills its subscribers that is reduced by customer credits, write-offs of subscriber receivables, and an 8% management and 8.6% service fee retained by Sprint. The Company is also charged for the costs of subsidized handsets sold through Sprint’s national channels as well as commissions paid by Sprint to third-party resellers in the Company's service territory.

The Company's fee related to Sprint’s prepaid customers is the amount Sprint bills its customer less certain charges to acquire and support the customer, based on national averages for Sprint’s prepaid programs. Sprint retains a 6% management fee on prepaid wireless revenues, and costs to provide support to Sprint’s prepaid customers.

The Company considers Sprint, rather than Sprint's subscribers, to be the customer under the new revenue standard and the Company's performance obligation is to provide Sprint a series of continuous network access services. Under Topic 606, the Company's revenues are variable based on the amount Sprint bills its customer each month reduced by the retained management and service fees. The reimbursement to Sprint for the costs of subsidized handsets sold through Sprint’s national channels, as well as commissions paid by Sprint to third-party resellers in our service territory represent consideration payable to a customer that is not in exchange for a distinct service under Topic 606. Therefore, these reimbursements result in increases to our contract asset position that are subsequently recognized as a reduction of revenue over the average subscriber life of approximately two years which is the period the Company expects those payments to result in increased revenues. Historically, under ASC 605 the customer was considered the Sprint subscriber rather than Sprint and as a result, reimbursement payments to Sprint for costs of subsidized handsets and commissions were recorded as operating expenses in the period incurred. During 2017, these costs totaled $63.5 million recorded in cost of goods and services, and $16.9 million recorded in selling, general and administrative costs. On January 1, 2018, upon adoption, the Company recorded a wireless contract asset of approximately $42.8 million. During the three month period ended March 31, 2018, payments that increased the wireless contract asset balance totaled $13.8 and amortization reflected as a reduction of revenue totaled approximately $13.4 million. The wireless contract asset balance as of March 31, 2018 was approximately$43.2 million.

Wireless equipment

The Company owns and operates Sprint-branded retail stores within their geographic territory from which the Company sells equipment, primarily wireless handsets, and service to Sprint subscribers. Equipment is generally purchased from Sprint and resold to subscribers under subsidized plans or under equipment financing plans. The equipment financing plans are operated by Sprint who purchases equipment from the Company and resells the equipment to subscribers under financing plans. Historically, under ASC 605, the Company concluded that the Company was the agent in these equipment financing transactions and recorded revenues net of related handset costs which were approximately $63.8 million in 2017. Under Topic 606 the Company concluded that the Company is the principal in the transaction as the Company controls the inventory prior to sale and accordingly revenues and handset costs are recorded on a gross basis.

Business, residential and enterprise

The Company earns revenue in the cable and wireline segments from business, residential, and enterprise customers where the performance obligations are to provide cable and telephone network services, sell and lease equipment and wiring services, and lease fiber-optic cable strands. The Company's arrangements are generally composed of contracts that are cancellable at the customer’s discretion without penalty at any time. As there are multiple performance obligations in these arrangements, the Company recognizes revenue based on the standalone selling price of each distinct good or service. The Company generally recognized these revenues over time as customers simultaneously receive and consume the benefits of the service, with the exception of equipment sales and home wiring which are recognized as revenue at a point in time when control transfers and when installation is complete, respectively.

Under Topic 606, the Company concluded that installation services do not represent a separate performance obligation. Accordingly, installation fees are allocated to services and are recognized ratably over the longer of the contract term or the period the unrecognized portion of the fee remains material to the contract, typically 10 and 11 months for cable and wireline customers, respectively. Historically, the Company deferred these fees over the estimated customer life of 42 months. Additionally, the Company incurs commission and installation costs related to in-house and third-party vendors that were previously expensed as incurred. Under Topic 606, the Company capitalizes and amortizes these commission and installation costs over the expected benefit period which is approximately 44 months, 72 months, and 46 months, for cable, wireline, and enterprise business, respectively.

Tower / Other

Tower revenues consist primarily of tower space leases accounted for under Topic 840, Leases, and Other revenues include network access-related charges to for service provided to customers across all three operating segments.

The cumulative effect of the changes made to our consolidated January 1, 2018 balance sheet for the adoption of the new revenue standard were as follows:



(in thousands)	Balance at December 31, 2017		Adjustments due to Topic 606			Balance at January 1, 2018
Assets
Prepaid expenses and other	$	17,111	$	36,577		$	53,688
Deferred charges and other	13,690		16,107			29,797
Liabilities
Advanced billing and customer deposits	$	21,153	$	(14,302	)	$	6,851
Deferred income taxes	100,879		18,151			119,030
Other long-term liabilities	15,293		(1,200		)	14,093
Retained earnings	297,205		50,035			347,240

In accordance with the new revenue standard requirements, the disclosure of the impact of adoption on our consolidated income statement and balance sheet was as follows:



	Three Months Ended March 31, 2018
(in thousands)	As Reported		Balances without Adoption of Topic 606		Effect of Change Higher/(Lower)
Operating revenues	$	151,732	$	155,871	$	(4,139	)
Operating expenses:
Cost of services	49,342		49,199		143
Cost of goods sold	15,805		6,118		9,687
Selling, general and administrative	28,750		42,968		(14,218		)



	Three Months Ended March 31, 2018
(in thousands)	As Reported	Balances without Adoption of Topic 606	Effect of Change Higher/(Lower)
Assets
Prepaid expenses and other	64,200	27,086	37,114
Deferred charges and other	33,934	18,115	15,819
Liabilities
Deferred income taxes	115,809	97,591	18,218
Advanced billing and customer deposits	6,919	21,221	(14,302	)
Other long-term liabilities	13,787	14,987	(1,200	)
Retained earnings	352,069	301,852	50,217

Remaining performance obligations and transaction price allocated

On March 31, 2018, the Company had approximately $2.5 million of transaction price allocated to unsatisfied performance obligations, which is exclusive of contracts with original expected duration of one year or less. The Company expects to recognize approximately $0.5 million of this amount as revenue during the remaining three quarters of 2018, $0.5 million in 2019, an additional $0.4 million by 2020, and the balance thereafter.

Contract acquisition costs and costs to fulfill contracts

Capitalized contract costs represent contract fulfillment costs and contract acquisition costs which include commissions and installation costs in our cable and wireline segments. Capitalized contract costs are amortized on a straight line basis over the contract term plus expected renewals. The Company applies the practical expedient to expense contract acquisition costs when incurred if the amortization period would be twelve months or less. The amortization of these costs is included in cost of services, and selling, general and administrative expenses. Amounts capitalized were approximately $9.7 million as of March 31, 2018 of which $4.6 million is presented as prepaid expenses and other and $5.1 million is presented as deferred charges and other assets, net. Amortization recognized during the three-month period ended at March 31, 2018 was approximately $1.3 million. There was no impairment loss in relation to the costs capitalized.

Acquisitions

3 Months Ended

Mar. 31, 2018

Business Combinations [Abstract]

Acquisitions

Acquisition

Sprint Territory Expansion: Effective February 1, 2018, the Company signed an expansion agreement with Sprint to expand our wireless service area to include certain areas in Kentucky, Pennsylvania, Virginia and West Virginia, (the “Expansion Area”). The agreement includes certain network build out requirements in the Expansion Area, and the ability to utilize Sprint’s spectrum in the Expansion Area. Pursuant to the expansion agreement, Sprint agreed to, among other things, transition the provision of network coverage in the Expansion Area from Sprint to the Company. The Expansion Agreement required a payment of $52.0 million for the right to service the Expansion Area pursuant to the Affiliate Agreements plus an optional payment of up to $5.0 million for certain equipment at the Sprint cell sites in the Expansion Area. The option is exercisable at the Company's discretion. The acquisition was accounted for as an asset acquisition.

The Company recorded the following in the wireless segment:



($ in thousands)	Estimated Useful Life	February 1, 2018
Affiliate Contract Expansion	12	$	45,148
Option to acquire tangible assets	—	6,497
Off-market leases - favorable	16.5*	3,665
Off-market leases - unfavorable	4.2*	(3,310		)
Total		$	52,000

*Estimated useful lives are approximate and represent the average of the remaining useful lives of the underlying leases.

The options to acquire tangible assets are classified as "Prepaid expenses and other" within current assets on the Company's balance sheet. The option is exercisable at any time and expires in two years. The option was measured for fair value using a cost approach on a recurring basis and using Level 3 inputs. The off-market leases - favorable and off-market leases - unfavorable, are classified as "Intangible assets, net" and "Deferred lease", respectively, on the Company's balance sheet. Refer to Note 6, Fair Value Measurements, and Note 8, Goodwill and Other Intangible Assets, for additional information.

Customer Concentration	3 Months Ended
Customer Concentration	Mar. 31, 2018
Significant Contractual Relationship [Abstract]
Customer Concentration	Customer Concentration Significant Contractual Relationship In 1999, the Company executed a Management Agreement (the “Agreement”) with Sprint whereby the Company committed to construct and operate a PCS network using CDMA air interface technology. Under the Agreement, the Company was the exclusive PCS Affiliate of Sprint providing wireless mobility communications network products and services on the 1900 MHz band in its territory across a multi-state area covering large portions of central and western Virginia, south-central Pennsylvania, West Virginia, and portions of Maryland, North Carolina, Kentucky, and Ohio. Since then, the Company’s wireless service area has expanded to include new portions of south-central and western Virginia, West Virginia, and small portions of Kentucky and Ohio. The Company is authorized to use the Sprint brand in its territory, and operate its network under Sprint’s radio spectrum licenses. As an exclusive PCS Affiliate of Sprint, the Company has the exclusive right to build, own and maintain its portion of Sprint’s nationwide PCS network, in the aforementioned areas, to Sprint’s specifications. The term of the Agreement was initially set for 20 years and was automatically renewable for three 10-year options, unless terminated by either party under provisions outlined in the Agreement. Upon non-renewal by either party, the Company has the obligation to sell the business at 90% of “Entire Business Value” (“EBV”) as defined in the Agreement. EBV is defined as i) the fair market value of a going concern paid by a willing buyer to a willing seller; ii) valued as if the business will continue to utilize existing brands and operate under existing agreements; and, iii) valued as if Manager (Shentel) owns the spectrum. Determination of EBV is made by an independent appraisal process. The Agreement has been amended numerous times. Amendment to the Affiliate agreement related to the acquisition of Expansion Area: Effective with the acquisition of Expansion Area on February 1, 2018, the Company amended its Agreement with Sprint to expand our wireless service area to include certain areas in Kentucky, Pennsylvania, Virginia and West Virginia. The agreement includes certain network build out requirements in the Expansion Area, and the ability to utilize Sprint’s spectrum in the Expansion Area along with certain other amendments to the Affiliate Agreements. Pursuant to the Expansion Agreement, Sprint agreed to, among other things, transition the provision of network coverage in the Expansion Area from Sprint to us.

Earnings (Loss) per share ("EPS")

3 Months Ended

Mar. 31, 2018

Earnings Per Share [Abstract]

Earnings (Loss) per share (EPS)

Earnings (Loss) Per Share ("EPS")

Basic EPS was computed by dividing net income or loss by the weighted average number of shares of common stock outstanding during the period. Diluted net income (loss) per share was computed under the treasury stock method, assuming the conversion as of the beginning of the period, for all dilutive stock options. Diluted EPS was computed by dividing net income by the sum of the weighted average number of shares of common stock outstanding and potentially dilutive securities outstanding during the period under the treasury stock method. Potentially dilutive securities include stock options and restricted stock units and shares that the Company is contractually obligated to issue in the future.

The following table indicates the computation of basic and diluted earnings per share for the three months ended March 31, 2018 and 2017:



	Three Months Ended March 31,
(in thousands, except per share amounts)	2018		2017
Calculation of net income (loss) per share:
Net income (loss)	$	4,829	$	2,341
Weighted average shares outstanding	49,474		49,050
Basic income (loss) per share	$	0.10	$	0.05

Effect of stock options outstanding:
Basic weighted average shares outstanding	49,474		49,050
Effect from dilutive shares and options outstanding	550		784
Diluted weighted average shares outstanding	50,024		49,834
Diluted income (loss) per share	$	0.10	$	0.05

The computation of diluted EPS does not include certain unvested awards, on a weighted average basis, because their inclusion would have an anti-dilutive effect on EPS. The awards excluded because of their anti-dilutive effect are as follows:

Fair Value Measurements (Notes)

3 Months Ended

Mar. 31, 2018

Fair Value Disclosures [Abstract]

Fair Value Measurements

The following tables present the hierarchy for financial assets and liabilities measured at fair value on a recurring basis as of March 31, 2018 and December 31, 2017:



(in thousands)	March 31, 2018
Balance sheet location:	Level 1		Level 2		Level 3		Total
Cash Equivalents:
Money market funds	$	151	$	—	$	—	$	151
Prepaid expenses & other:
Interest rate swaps	—		3,673		—		3,673
Option to acquire tangible assets					6,497		6,497
Deferred charges & other assets, net:
Interest rate swaps	—		13,692		—		13,692
Total	$	151	$	17,365	$	6,497	$	24,013



(in thousands)	December 31, 2017
Balance sheet location:	Level 1		Level 2		Level 3		Total
Cash Equivalents:
Money market funds	$	150	$	—	$	—	$	150
Prepaid expenses & other:
Interest rate swaps	—		2,411		—		2,411
Deferred charges & other assets, net:
Interest rate swaps	—		10,776		—		10,776
Total	$	150	$	13,187	$	—	$	13,337

The following table presents our financial instruments measured at fair value using unobservable inputs (Level 3):



	Fair Value Measurements Using Unobservable Inputs (Level 3)
	March 31, 2018		December 31, 2017
Balance, beginning of period	$	—	$	—
Sprint Territory Expansion (Note 3):
Option to acquire tangible assets	6,497		—
Balance, end of period	$	6,497	$	—

The option is exercisable at any time and expires in two years. The option was measured for fair value using a cost approach on a recurring basis and using Level 3 inputs including the cost of the underlying assets to be acquired and the contractual selling price of those assets.

Property, Plant and Equipment

3 Months Ended

Mar. 31, 2018

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

Property, plant and equipment consisted of the following:



(in thousands)	March 31, 2018		December 31, 2017
Plant in service	$	1,245,079	$	1,219,185
Plant under construction	57,005		62,202
	1,302,084		1,281,387
Less accumulated amortization and depreciation	630,067		595,060
Net property, plant and equipment	$	672,017	$	686,327

Goodwill and Other Intangible Assets

3 Months Ended

Mar. 31, 2018

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets

Goodwill consisted of the following:



(in thousands)	March 31, 2018		December 31, 2017
Goodwill - Wireless	$	146,383	$	146,383
Goodwill - Cable	104		104
Goodwill - Wireline	10		10
Goodwill	$	146,497	$	146,497

Intangible assets consist of the following at March 31, 2018 and December 31, 2017:



	March 31, 2018							December 31, 2017
(in thousands)	Gross Carrying Amount		Accumulated Amortization			Net		Gross Carrying Amount		Accumulated Amortization			Net
Non-amortizing intangibles:
Cable franchise rights	$	64,334	$	—		$	64,334	$	64,334	$	—		$	64,334
Railroad crossing rights	141		—			141		141		—			141
	64,475		—			64,475		64,475		—			64,475

Finite-lived intangibles:
Affiliate contract expansion - wireless	455,306		(121,808		)	333,498		410,157		(105,964		)	304,193
Favorable leases - wireless	16,768		(1,589		)	15,179		13,103		(1,222		)	11,881
Acquired subscribers - cable	25,265		(25,138		)	127		25,265		(25,100		)	165
Other intangibles	463		(205		)	258		463		(198		)	265
Total finite-lived intangibles	497,802		(148,740		)	349,062		448,988		(132,484		)	316,504
Total intangible assets	$	562,277	$	(148,740	)	$	413,537	$	513,463	$	(132,484	)	$	380,979

Affiliate contract expansion is amortized over the expected benefit period and is further reduced by the amount of waived management fees received from Sprint which totaled $69.7 million since May 6, 2016, the date of the non-monetary exchange.

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

+ References + Details

Other Assets and Accrued Liabilities

3 Months Ended

Mar. 31, 2018

Other Liabilities Disclosure [Abstract]

Other Assets and Accrued Liabilities

Prepaid expenses and other, classified as current assets, included the following:



(in thousands)	March 31, 2018		December 31, 2017
Prepaid rent	$	9,687	$	10,519
Prepaid maintenance expenses	4,282		3,062
Interest rate swaps	3,673		2,411
Deferred contract and other costs	46,558		1,119
Prepaid expenses and other	$	64,200	$	17,111

Deferred contract and other costs include amounts reimbursed to Sprint for commissions and device costs, and commissions and installation costs in the Company’s Cable and Wireline segments. The deferred contract and other costs increased due to the adoption of Topic 606. Refer to Note 2, Revenue from Contracts with Customers, for additional information.

Deferred charges and other assets, classified as long-term assets, included the following:



(in thousands)	March 31, 2018		December 31, 2017
Interest rate swaps	$	13,692	$	10,776
Deferred contract and other costs	20,242		2,914
Deferred charges and other assets, net	$	33,934	$	13,690

Accrued liabilities and other, classified as current liabilities, included the following:



(in thousands)	March 31, 2018		December 31, 2017
Sales and property taxes payable	$	4,969	$	3,872
Severance accrual	261		1,028
Asset retirement obligations	923		492
Accrued programming costs	3,029		2,805
Other current liabilities	8,289		5,717
Accrued liabilities and other	$	17,471	$	13,914

Other liabilities, classified as long-term liabilities, included the following:



(in thousands)	March 31, 2018		December 31, 2017
Non-current portion of deferred revenues	$	12,523	$	14,030
Other	1,264		1,263
Other liabilities	$	13,787	$	15,293

The Company's asset retirement obligations are included in the balance sheet caption "Asset retirement obligations" and "Accrued liabilities and other". The Company records the fair value of an asset retirement obligation as a liability in the period in which it incurs a legal obligation associated with the retirement and removal of leasehold improvements or equipment. The Company also records a corresponding asset, which is depreciated over the life of the leasehold improvement or equipment. Subsequent to the initial measurement of the asset retirement obligation, the obligation is adjusted at the end of each period to reflect the passage of time and changes in the estimated future cash flows underlying the obligation. The terms associated with its operating leases, and applicable zoning ordinances of certain jurisdictions, define the Company’s obligations which are estimated and vary based on the size of the towers.

Long-Term Debt

3 Months Ended

Mar. 31, 2018

Debt Disclosure [Abstract]

Long-Term Debt

Total debt at March 31, 2018 and December 31, 2017 consists of the following:



(in thousands)	March 31, 2018		December 31, 2017
Term loan A-1	$	424,375	$	436,500
Term loan A-2	400,000		400,000
	824,375		836,500
Less: unamortized loan fees	13,502		14,542
Total debt, net of unamortized loan fees	$	810,873	$	821,958

Current maturities of long term debt, net of unamortized loan fees	$	74,486	$	64,397
Long-term debt, less current maturities, net of unamortized loan fees	$	736,387	$	757,561

As of March 31, 2018, the Company's indebtedness totaled approximately $824.4 million, excluding unamortized loan fees of $13.5 million, with an annualized overall weighted average interest rate of approximately 4.02%. As of March 31, 2018, the Term Loan A-1 bears interest at one-month LIBOR plus a margin of 2.25%, while the Term Loan A-2 bears interest at one-month LIBOR plus a margin of 2.50%. At March 31, 2018, one-month LIBOR was 1.88%. LIBOR resets monthly.

The Term Loan A-1 requires quarterly principal repayments of $6.1 million, which began on September 30, 2016 and continued through June 30, 2017, increasing to $12.1 million quarterly from September 30, 2017 through June 30, 2020; then increasing to $18.2 million quarterly from September 30, 2020 through March 31, 2021, with the remaining balance due June 30, 2021. The Term Loan A-2 requires quarterly principal repayments of $10.0 million beginning on September 30, 2018 through March 31, 2023, with the remaining balance due June 30, 2023.

The 2016 credit agreement also required the Company to enter into one or more hedge agreements to manage its exposure to interest rate movements. The Company elected to hedge the minimum required under the 2016 credit agreement, and entered into a pay-fixed, receive-variable swap on 50% of the aggregate expected principal balance of the term loans outstanding. The Company will receive one month LIBOR and pay a fixed rate of 1.16%, in addition to the 2.25% initial spread on Term Loan A-1 and the 2.50% initial spread on Term Loan A-2.

The 2016 credit agreement contains affirmative and negative covenants customary to secured credit facilities, including covenants restricting the ability of the Company and its subsidiaries, subject to negotiated exceptions, to incur additional indebtedness and additional liens on their assets, engage in mergers or acquisitions or dispose of assets, pay dividends or make other distributions, voluntarily prepay other indebtedness, enter into transactions with affiliated persons, make investments, and change the nature of the Company’s and its subsidiaries’ businesses.

Indebtedness outstanding under any of the facilities may be accelerated by an Event of Default, as defined in the 2016 credit agreement.

The Facilities are secured by a pledge by the Company of its stock and membership interests in its subsidiaries, a guarantee by the Company’s subsidiaries other than Shenandoah Telephone Company, and a security interest in substantially all of the assets of the Company and the guarantors.

The Company is subject to certain financial covenants to be measured on a trailing twelve month basis each calendar quarter unless otherwise specified. These covenants include:


•	a limitation on the Company’s total leverage ratio, defined as indebtedness divided by earnings before interest, taxes, depreciation and amortization, or EBITDA, of less than or equal to 3.75 to 1.00 from the closing date through December 30, 2018, then 3.25 to 1.00 through December 30, 2019, and 3.00 to 1.00 thereafter;


•	a minimum debt service coverage ratio, defined as EBITDA minus certain cash taxes divided by the sum of all scheduled principal payments on the Term Loans and scheduled principal payments on other indebtedness plus cash interest expense, greater than 2.00 to 1.00;


•	the Company must maintain a minimum liquidity balance of greater than $25 million. The balance is defined as availability under the revolver facility plus unrestricted cash and cash equivalents on deposit in a deposit account for which a control agreement has been delivered to the administrative agent under the 2016 credit agreement.

As shown below, as of March 31, 2018, the Company was in compliance with the covenants in its credit agreements.

Credit Facility Modification: On February 16, 2018, the Company, entered into a Second Amendment to Credit Agreement (the “Second Amendment”) with CoBank, ACB, as administrative agent of its Credit Agreement and the various financial institutions party thereto (the “Lenders”), which modifies the Credit Agreement by (i) reducing the interest rate paid by the Company by approximately 50 basis points with respect to certain loans made by the Lenders to the Company under the Credit Agreement, and (ii) allowing the Company to make charitable contributions to the Shentel Foundation, a Virginia nonstock corporation, of up to $1.5 million in any fiscal year.

Income Taxes	3 Months Ended
Income Taxes	Mar. 31, 2018
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company files U.S. federal income tax returns and various state and local income tax returns. With few exceptions, years prior to 2014 are no longer subject to examination; net operating losses acquired in the nTelos acquisition are open to examination from 2002 forward. The Company is not subject to any state or federal income tax audits as of March 31, 2018. The effective tax rate has fluctuated in recent periods due to the minimal base of pre-tax earnings or losses and has been further impacted by share based compensation tax benefits which are recognized as incurred under the provisions of ASC 740, "Income Taxes". On December 22, 2017, the Tax Cuts and Jobs Act (the “2017 Tax Act”) was enacted, substantially changing the U.S. tax system. The 2017 Tax Act includes a number of changes to existing U.S. tax laws that impact the Company, most notably a reduction of the U.S. corporate income tax rate from 35 percent to 21 percent for tax years beginning after December 31, 2017. The 2017 Tax Act also provides immediate expensing for certain qualified assets acquired and placed into service after September 27, 2017 as well as prospective changes beginning in 2018, including acceleration of tax revenue recognition, additional limitations on deductibility of executive compensation and limitations on the deductibility of interest. On December 22, 2017, the SEC staff issued Staff Accounting Bulletin No. 118 (SAB 118) to address the application of U.S. GAAP in situations when a registrant does not have the necessary information available, prepared, or analyzed in reasonable detail to complete the accounting for certain income tax effects of the 2017 Tax Act. The Company recognized the income tax effects of the 2017 Tax Act in its 2017 consolidated financial statements in accordance with SAB No. 118. As of March 31, 2018, the Company is continuing to evaluate the provisional amounts recorded related to the 2017 Tax Act at December 31, 2017, and has not recognized any additional adjustments to such provisional amounts.

Segment Reporting

3 Months Ended

Mar. 31, 2018

Segment Reporting [Abstract]

Segment Reporting

Three Months Ended March 31, 2018



(in thousands)	Wireless		Cable		Wireline		Other			Eliminations			Consolidated Totals
External revenues
Service revenues	$	89,759	$	28,471	$	5,308	$	—		$	—		$	123,538
Equipment revenues	17,374		159		46		—			—			17,579
Other	2,026		2,050		6,539		—			—			10,615
Total external revenues	109,159		30,680		11,893		—			—			151,732
Internal revenues	1,239		1,031		7,814		—			(10,084		)	—
Total operating revenues	110,398		31,711		19,707		—			(10,084		)	151,732

Operating expenses
Costs of services	33,750		15,156		9,802		—			(9,366		)	49,342
Costs of goods sold	15,727		56		22		—			—			15,805
Selling, general & administrative	12,135		4,948		1,717		10,668			(718		)	28,750
Acquisition, integration & migration expenses	—		—		—		—			—			—
Depreciation & amortization	33,925		6,024		3,394		144			—			43,487
Total operating expenses	95,537		26,184		14,935		10,812			(10,084		)	137,384
Operating income (loss)	$	14,861	$	5,527	$	4,772	$	(10,812	)	$	—		$	14,348

Three Months Ended March 31, 2017:



(in thousands)	Wireless		Cable		Wireline		Other			Eliminations			Consolidated Totals
External revenues
Service revenues	$	108,186	$	26,411	$	5,048	$	—		$	—		$	139,645
Equipment revenues	3,145		182		32		—			—			3,359
Other	2,897		1,853		6,126		—			—			10,876
Total external revenues	114,228		28,446		11,206		—			—			153,880
Internal revenues	1,235		567		7,948		—			(9,750		)	—
Total operating revenues	115,463		29,013		19,154		—			(9,750		)	153,880

Operating expenses
Costs of services	33,423		15,178		9,233		—			(9,058		)	48,776
Costs of goods sold	4,895		50		40		—			—			4,985
Selling, general & administrative	28,464		4,858		1,676		5,847			(692		)	40,153
Acquisition, integration & migration expenses	3,792		—		—		697			—			4,489
Depreciation & amortization	35,752		5,788		3,132		132			—			44,804
Total operating expenses	106,326		25,874		14,081		6,676			(9,750		)	143,207
Operating income (loss)	$	9,137	$	3,139	$	5,073	$	(6,676	)	$	—		$	10,673

A reconciliation of the total of the reportable segments’ operating income (loss) to consolidated income (loss) before taxes is as follows:



	Three Months Ended March 31,
(in thousands)	2018			2017
Total consolidated operating income (loss)	$	14,348		$	10,673
Interest expense	(9,332		)	(9,100		)
Non-operating income, net	989			1,375
Income (loss) before income taxes	$	6,005		$	2,948

Revenue Recognition (Tables)

3 Months Ended

Mar. 31, 2018

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue



(in thousands)	Wireless			Cable			Wireline			Consolidated
Wireless service	$	89,760		$	—		$	—		$	89,760
Wireless equipment	17,374			—			—			17,374
Business, residential and enterprise	—			29,131			10,691			39,822
Tower	2,896			1,046			5,665			9,607
Other	368			1,534			3,351			5,253
Total revenue	110,398			31,711			19,707			161,816
Internal revenues	(1,239		)	(1,031		)	(7,814		)	(10,084		)
Total operating revenue	$	109,159		$	30,680		$	11,893		$	151,732

Schedule of New Accounting Pronouncements and Changes in Accounting Principles

The cumulative effect of the changes made to our consolidated January 1, 2018 balance sheet for the adoption of the new revenue standard were as follows:



(in thousands)	Balance at December 31, 2017		Adjustments due to Topic 606			Balance at January 1, 2018
Assets
Prepaid expenses and other	$	17,111	$	36,577		$	53,688
Deferred charges and other	13,690		16,107			29,797
Liabilities
Advanced billing and customer deposits	$	21,153	$	(14,302	)	$	6,851
Deferred income taxes	100,879		18,151			119,030
Other long-term liabilities	15,293		(1,200		)	14,093
Retained earnings	297,205		50,035			347,240

In accordance with the new revenue standard requirements, the disclosure of the impact of adoption on our consolidated income statement and balance sheet was as follows:



	Three Months Ended March 31, 2018
(in thousands)	As Reported		Balances without Adoption of Topic 606		Effect of Change Higher/(Lower)
Operating revenues	$	151,732	$	155,871	$	(4,139	)
Operating expenses:
Cost of services	49,342		49,199		143
Cost of goods sold	15,805		6,118		9,687
Selling, general and administrative	28,750		42,968		(14,218		)



	Three Months Ended March 31, 2018
(in thousands)	As Reported	Balances without Adoption of Topic 606	Effect of Change Higher/(Lower)
Assets
Prepaid expenses and other	64,200	27,086	37,114
Deferred charges and other	33,934	18,115	15,819
Liabilities
Deferred income taxes	115,809	97,591	18,218
Advanced billing and customer deposits	6,919	21,221	(14,302	)
Other long-term liabilities	13,787	14,987	(1,200	)
Retained earnings	352,069	301,852	50,217

Acquisitions Acquisition (Tables)

3 Months Ended

Mar. 31, 2018

Business Combinations [Abstract]

Schedule of Finite-Lived Intangible Assets Acquired as Part of Business Combination

recorded the following in the wireless segment:



($ in thousands)	Estimated Useful Life	February 1, 2018
Affiliate Contract Expansion	12	$	45,148
Option to acquire tangible assets	—	6,497
Off-market leases - favorable	16.5*	3,665
Off-market leases - unfavorable	4.2*	(3,310		)
Total		$	52,000

Earnings (Loss) per share ("EPS") (Tables)

3 Months Ended

Mar. 31, 2018

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted

The following table indicates the computation of basic and diluted earnings per share for the three months ended March 31, 2018 and 2017:



	Three Months Ended March 31,
(in thousands, except per share amounts)	2018		2017
Calculation of net income (loss) per share:
Net income (loss)	$	4,829	$	2,341
Weighted average shares outstanding	49,474		49,050
Basic income (loss) per share	$	0.10	$	0.05

Effect of stock options outstanding:
Basic weighted average shares outstanding	49,474		49,050
Effect from dilutive shares and options outstanding	550		784
Diluted weighted average shares outstanding	50,024		49,834
Diluted income (loss) per share	$	0.10	$	0.05

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

The awards excluded because of their anti-dilutive effect are as follows:

Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2018

Fair Value Disclosures [Abstract]

Fair Value Hierarchy, Assets and Liabilities Measured on Recurring Basis

The following tables present the hierarchy for financial assets and liabilities measured at fair value on a recurring basis as of March 31, 2018 and December 31, 2017:



(in thousands)	March 31, 2018
Balance sheet location:	Level 1		Level 2		Level 3		Total
Cash Equivalents:
Money market funds	$	151	$	—	$	—	$	151
Prepaid expenses & other:
Interest rate swaps	—		3,673		—		3,673
Option to acquire tangible assets					6,497		6,497
Deferred charges & other assets, net:
Interest rate swaps	—		13,692		—		13,692
Total	$	151	$	17,365	$	6,497	$	24,013



(in thousands)	December 31, 2017
Balance sheet location:	Level 1		Level 2		Level 3		Total
Cash Equivalents:
Money market funds	$	150	$	—	$	—	$	150
Prepaid expenses & other:
Interest rate swaps	—		2,411		—		2,411
Deferred charges & other assets, net:
Interest rate swaps	—		10,776		—		10,776
Total	$	150	$	13,187	$	—	$	13,337

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation

The following table presents our financial instruments measured at fair value using unobservable inputs (Level 3):



	Fair Value Measurements Using Unobservable Inputs (Level 3)
	March 31, 2018		December 31, 2017
Balance, beginning of period	$	—	$	—
Sprint Territory Expansion (Note 3):
Option to acquire tangible assets	6,497		—
Balance, end of period	$	6,497	$	—

Property, Plant and Equipment (Tables)

3 Months Ended

Mar. 31, 2018

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

Property, plant and equipment consisted of the following:



(in thousands)	March 31, 2018		December 31, 2017
Plant in service	$	1,245,079	$	1,219,185
Plant under construction	57,005		62,202
	1,302,084		1,281,387
Less accumulated amortization and depreciation	630,067		595,060
Net property, plant and equipment	$	672,017	$	686,327

Goodwill and Other Intangible Assets, Net (Tables)

3 Months Ended

Mar. 31, 2018

Goodwill and Intangible Assets Disclosure [Abstract]

Changes in Carrying Amount of Goodwill



(in thousands)	March 31, 2018		December 31, 2017
Goodwill - Wireless	$	146,383	$	146,383
Goodwill - Cable	104		104
Goodwill - Wireline	10		10
Goodwill	$	146,497	$	146,497

Schedule of Intangible Assets

Intangible assets consist of the following at March 31, 2018 and December 31, 2017:



	March 31, 2018							December 31, 2017
(in thousands)	Gross Carrying Amount		Accumulated Amortization			Net		Gross Carrying Amount		Accumulated Amortization			Net
Non-amortizing intangibles:
Cable franchise rights	$	64,334	$	—		$	64,334	$	64,334	$	—		$	64,334
Railroad crossing rights	141		—			141		141		—			141
	64,475		—			64,475		64,475		—			64,475

Finite-lived intangibles:
Affiliate contract expansion - wireless	455,306		(121,808		)	333,498		410,157		(105,964		)	304,193
Favorable leases - wireless	16,768		(1,589		)	15,179		13,103		(1,222		)	11,881
Acquired subscribers - cable	25,265		(25,138		)	127		25,265		(25,100		)	165
Other intangibles	463		(205		)	258		463		(198		)	265
Total finite-lived intangibles	497,802		(148,740		)	349,062		448,988		(132,484		)	316,504
Total intangible assets	$	562,277	$	(148,740	)	$	413,537	$	513,463	$	(132,484	)	$	380,979

Other Assets and Accrued Liabilities (Tables)

3 Months Ended

Mar. 31, 2018

Other Liabilities Disclosure [Abstract]

Schedule of Other Current Assets

Prepaid expenses and other, classified as current assets, included the following:



(in thousands)	March 31, 2018		December 31, 2017
Prepaid rent	$	9,687	$	10,519
Prepaid maintenance expenses	4,282		3,062
Interest rate swaps	3,673		2,411
Deferred contract and other costs	46,558		1,119
Prepaid expenses and other	$	64,200	$	17,111

Schedule of Other Assets, Noncurrent

Deferred charges and other assets, classified as long-term assets, included the following:



(in thousands)	March 31, 2018		December 31, 2017
Interest rate swaps	$	13,692	$	10,776
Deferred contract and other costs	20,242		2,914
Deferred charges and other assets, net	$	33,934	$	13,690

Summary of Accrued Liabilities and Other

Accrued liabilities and other, classified as current liabilities, included the following:



(in thousands)	March 31, 2018		December 31, 2017
Sales and property taxes payable	$	4,969	$	3,872
Severance accrual	261		1,028
Asset retirement obligations	923		492
Accrued programming costs	3,029		2,805
Other current liabilities	8,289		5,717
Accrued liabilities and other	$	17,471	$	13,914

Summary of Other Liabilities

Other liabilities, classified as long-term liabilities, included the following:



(in thousands)	March 31, 2018		December 31, 2017
Non-current portion of deferred revenues	$	12,523	$	14,030
Other	1,264		1,263
Other liabilities	$	13,787	$	15,293

Long-Term Debt (Tables)

3 Months Ended

Mar. 31, 2018

Debt Disclosure [Abstract]

Schedule of long term debt

Total debt at March 31, 2018 and December 31, 2017 consists of the following:



(in thousands)	March 31, 2018		December 31, 2017
Term loan A-1	$	424,375	$	436,500
Term loan A-2	400,000		400,000
	824,375		836,500
Less: unamortized loan fees	13,502		14,542
Total debt, net of unamortized loan fees	$	810,873	$	821,958

Current maturities of long term debt, net of unamortized loan fees	$	74,486	$	64,397
Long-term debt, less current maturities, net of unamortized loan fees	$	736,387	$	757,561

Financial covenants in credit agreements

As shown below, as of March 31, 2018, the Company was in compliance with the covenants in its credit agreements.

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=84159872&loc=d3e21475-112644

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=75038535&loc=d3e64711-112823

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(e),(f))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=64930739&loc=d3e28878-108400

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=84159872&loc=d3e21538-112644

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=84159872&loc=d3e21506-112644

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=64930785&loc=d3e28541-108399

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=64930785&loc=d3e28551-108399

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=84159872&loc=d3e21521-112644

+ Details

Segment Reporting (Tables)

3 Months Ended

Mar. 31, 2018

Segment Reporting [Abstract]

Selected Financial Data for Segments

Three Months Ended March 31, 2018



(in thousands)	Wireless		Cable		Wireline		Other			Eliminations			Consolidated Totals
External revenues
Service revenues	$	89,759	$	28,471	$	5,308	$	—		$	—		$	123,538
Equipment revenues	17,374		159		46		—			—			17,579
Other	2,026		2,050		6,539		—			—			10,615
Total external revenues	109,159		30,680		11,893		—			—			151,732
Internal revenues	1,239		1,031		7,814		—			(10,084		)	—
Total operating revenues	110,398		31,711		19,707		—			(10,084		)	151,732

Operating expenses
Costs of services	33,750		15,156		9,802		—			(9,366		)	49,342
Costs of goods sold	15,727		56		22		—			—			15,805
Selling, general & administrative	12,135		4,948		1,717		10,668			(718		)	28,750
Acquisition, integration & migration expenses	—		—		—		—			—			—
Depreciation & amortization	33,925		6,024		3,394		144			—			43,487
Total operating expenses	95,537		26,184		14,935		10,812			(10,084		)	137,384
Operating income (loss)	$	14,861	$	5,527	$	4,772	$	(10,812	)	$	—		$	14,348

Three Months Ended March 31, 2017:



(in thousands)	Wireless		Cable		Wireline		Other			Eliminations			Consolidated Totals
External revenues
Service revenues	$	108,186	$	26,411	$	5,048	$	—		$	—		$	139,645
Equipment revenues	3,145		182		32		—			—			3,359
Other	2,897		1,853		6,126		—			—			10,876
Total external revenues	114,228		28,446		11,206		—			—			153,880
Internal revenues	1,235		567		7,948		—			(9,750		)	—
Total operating revenues	115,463		29,013		19,154		—			(9,750		)	153,880

Operating expenses
Costs of services	33,423		15,178		9,233		—			(9,058		)	48,776
Costs of goods sold	4,895		50		40		—			—			4,985
Selling, general & administrative	28,464		4,858		1,676		5,847			(692		)	40,153
Acquisition, integration & migration expenses	3,792		—		—		697			—			4,489
Depreciation & amortization	35,752		5,788		3,132		132			—			44,804
Total operating expenses	106,326		25,874		14,081		6,676			(9,750		)	143,207
Operating income (loss)	$	9,137	$	3,139	$	5,073	$	(6,676	)	$	—		$	10,673

Reconciliation of Income (Loss) from Continuing Operations from Segments to Consolidated

A reconciliation of the total of the reportable segments’ operating income (loss) to consolidated income (loss) before taxes is as follows:



	Three Months Ended March 31,
(in thousands)	2018			2017
Total consolidated operating income (loss)	$	14,348		$	10,673
Interest expense	(9,332		)	(9,100		)
Non-operating income, net	989			1,375
Income (loss) before income taxes	$	6,005		$	2,948

Revenue Recognition - Revenue by Category (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2018 USD ($)
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	$ 151,732
Wireless
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	109,159
Cable
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	30,680
Wireline
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	11,893
Operating Segments
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	161,816
Operating Segments \| Wireless service
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	89,760
Operating Segments \| Wireless equipment
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	17,374
Operating Segments \| Business, residential and enterprise
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	39,822
Operating Segments \| Tower
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	9,607
Operating Segments \| Other
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	5,253
Operating Segments \| Wireless
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	110,398
Operating Segments \| Wireless \| Wireless service
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	89,760
Operating Segments \| Wireless \| Wireless equipment
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	17,374
Operating Segments \| Wireless \| Business, residential and enterprise
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	0
Operating Segments \| Wireless \| Tower
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	2,896
Operating Segments \| Wireless \| Other
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	368
Operating Segments \| Cable
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	31,711
Operating Segments \| Cable \| Wireless service
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	0
Operating Segments \| Cable \| Wireless equipment
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	0
Operating Segments \| Cable \| Business, residential and enterprise
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	29,131
Operating Segments \| Cable \| Tower
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	1,046
Operating Segments \| Cable \| Other
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	1,534
Operating Segments \| Wireline
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	19,707
Operating Segments \| Wireline \| Wireless service
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	0
Operating Segments \| Wireline \| Wireless equipment
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	0
Operating Segments \| Wireline \| Business, residential and enterprise
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	10,691
Operating Segments \| Wireline \| Tower
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	5,665
Operating Segments \| Wireline \| Other
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	3,351
Intersegment Eliminations
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	(10,084)
Intersegment Eliminations \| Wireless
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	(1,239)
Intersegment Eliminations \| Cable
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	(1,031)
Intersegment Eliminations \| Wireline
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	$ (7,814)

Revenue Recognition - Narrative (Details) - USD ($)	3 Months Ended	12 Months Ended
Revenue Recognition - Narrative (Details) - USD ($)	Mar. 31, 2018	Dec. 31, 2017	Jan. 01, 2018
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Percentage of consolidated revenue	59.00%
Management fee, percentage	8.00%
Service fee retained by Sprint	8.60%
Management fee on prepaid wireless revenues and costs	6.00%
Wireless contract asset balance	$ 43,200,000		$ 42,800,000
Payments to increase wireless contract asset balance	13,800,000
Amortization to reduce revenue	$ 13,400,000
Revenue recorded from equipment financing transactions		$ 63,800,000
Estimated customer life (in months)	42 months
Change in accounting principle - adoption of accounting standard (Note 2)	$ 50,035,000
Cost to fulfill contract	9,700,000
Amortization of capitalized costs to fulfill contracts	1,300,000
Impairment loss recognized, capitalized cost to fulfill contracts	$ 0
Cable
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Installation revenue, recognition period	10 months
Commissions and other costs, recognition period (in months)	44 months
Wireline
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Installation revenue, recognition period	11 months
Commissions and other costs, recognition period (in months)	72 months
Enterprise
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Commissions and other costs, recognition period (in months)	46 months
Prepaid expenses and other
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cost to fulfill contract	$ 4,600,000
Deferred charges and other assets, net
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cost to fulfill contract	$ 5,100,000
Cost of Goods and Services Sold
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Reimbursement payments, cost of equipment and commissions		63,500,000
Selling, General and Administrative Expenses
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Reimbursement payments, cost of equipment and commissions		$ 16,900,000

Revenue Recognition - Adjustments to Previously Reported Consolidated Financial Statements from the Adoption of Accounting Pronouncements (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Jan. 01, 2018	Dec. 31, 2017
Assets [Abstract]
Accounts receivable, net	$ 51,095			$ 54,184
Prepaid expenses and other	64,200		$ 53,688	17,111
Deferred charges and other assets, net	33,934		29,797	13,690
Liabilities [Abstract]
Advanced billings and customer deposits	6,919		6,851	21,153
Deferred income taxes	115,809		119,030	100,879
Other long-term liabilities	13,787		14,093	15,293
Retained earnings	352,069		347,240	297,205
Operating revenues	151,732	$ 153,880
Cost of services	49,342	48,776
Cost of goods sold	15,805	4,985
Selling, general and administrative	28,750	$ 40,153
Calculated under Revenue Guidance in Effect before Topic 606
Assets [Abstract]
Prepaid expenses and other	27,086			17,111
Deferred charges and other assets, net	18,115			13,690
Liabilities [Abstract]
Advanced billings and customer deposits	21,221			21,153
Deferred income taxes	97,591			100,879
Other long-term liabilities	14,987			15,293
Retained earnings	301,852			$ 297,205
Operating revenues	155,871
Cost of services	49,199
Cost of goods sold	6,118
Selling, general and administrative	42,968
Difference between Revenue Guidance in Effect before and after Topic 606 [Member] \| Accounting Standards Update 2014-09
Assets [Abstract]
Prepaid expenses and other	37,114		36,577
Deferred charges and other assets, net	15,819		16,107
Liabilities [Abstract]
Advanced billings and customer deposits	(14,302)		(14,302)
Deferred income taxes	18,218		18,151
Other long-term liabilities	(1,200)		(1,200)
Retained earnings	50,217		$ 50,035
Operating revenues	(4,139)
Cost of services	143
Cost of goods sold	9,687
Selling, general and administrative	$ (14,218)

Revenue Recognition - Remaining Performance Obligations (Details) $ in Millions	3 Months Ended
	Mar. 31, 2018 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2018-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligations	$ 0.5
Remaining performance obligations, period	9 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligations	$ 0.5
Remaining performance obligations, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligations	$ 2.5
Remaining performance obligations, period	12 months

Acquisitions - Sprint Territory Expansion (Details) - USD ($)	Feb. 01, 2018	Mar. 31, 2018	Dec. 31, 2017
Business Acquisition [Line Items]
One-time payment for expansion of service area	$ 52,000,000
Finite-lived intangible assets	(52,000,000)	$ (349,062,000)	$ (316,504,000)
Maximum
Business Acquisition [Line Items]
One-time payment for expansion of service area, additional payment	$ 5,000,000.0
Affiliate Contract Expansion
Business Acquisition [Line Items]
Estimated useful life, finite lived intangible assets	12 years
Finite-lived intangible assets	$ (45,148,000)	(333,498,000)	(304,193,000)
Option to acquire tangible assets
Business Acquisition [Line Items]
Finite-lived intangible assets	$ (6,497,000)
Off-market leases - favorable
Business Acquisition [Line Items]
Estimated useful life, finite lived intangible assets	16 years 6 months
Finite-lived intangible assets	$ (3,665,000)	$ (15,179,000)	$ (11,881,000)
Off-market leases - unfavorable
Business Acquisition [Line Items]
Estimated useful life, finite lived intangible assets	4 years 2 months 12 days
Finite-lived intangible assets	$ (3,310,000)

Earnings (Loss) per share ("EPS") - Schedule of Diluted Earnings Per Shares Calculation (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Calculation of net income (loss) per share:
Net income (loss)	$ 4,829	$ 2,341
Basic weighted average shares outstanding (in shares)	49,474	49,050
Basic income (loss) per share (in dollars per share)	$ 0.10	$ 0.05
Effect of stock options outstanding:
Basic weighted average shares outstanding (in shares)	49,474	49,050
Effect from dilutive shares and options outstanding (in shares)	550	784
Diluted weighted average shares (in shares)	50,024	49,834
Diluted income (loss) per share (in dollars per share)	$ 0.10	$ 0.05

Earnings (Loss) per share ("EPS") - Schedule of Antidilutive Shares (Details) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Earnings Per Share [Abstract]
Awards excluded from the computation of diluted net income per share because their inclusion would have been anti-dilutive (in shares)	141	125

Fair Value Measurements - Hierarchy (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Feb. 01, 2018	Dec. 31, 2017
Assets, Fair Value Disclosure [Abstract]
Finite-lived intangible assets	$ 349,062	$ 52,000	$ 316,504
Fair Value, Measurements, Recurring
Assets, Fair Value Disclosure [Abstract]
Total Assets	24,013		13,337
Fair Value, Measurements, Recurring \| Fair Value, Inputs, Level 1
Assets, Fair Value Disclosure [Abstract]
Total Assets	151		150
Fair Value, Measurements, Recurring \| Fair Value, Inputs, Level 2
Assets, Fair Value Disclosure [Abstract]
Total Assets	17,365		13,187
Fair Value, Measurements, Recurring \| Fair Value, Inputs, Level 3
Assets, Fair Value Disclosure [Abstract]
Total Assets	6,497		0
Money Market Funds \| Fair Value, Measurements, Recurring
Assets, Fair Value Disclosure [Abstract]
Money market funds	151		150
Money Market Funds \| Fair Value, Measurements, Recurring \| Fair Value, Inputs, Level 1
Assets, Fair Value Disclosure [Abstract]
Money market funds	151		150
Money Market Funds \| Fair Value, Measurements, Recurring \| Fair Value, Inputs, Level 2
Assets, Fair Value Disclosure [Abstract]
Money market funds	0		0
Money Market Funds \| Fair Value, Measurements, Recurring \| Fair Value, Inputs, Level 3
Assets, Fair Value Disclosure [Abstract]
Money market funds	0		0
Prepaid expenses and other \| Interest rate swap \| Fair Value, Measurements, Recurring
Assets, Fair Value Disclosure [Abstract]
Interest rate swaps	3,673		2,411
Prepaid expenses and other \| Interest rate swap \| Fair Value, Measurements, Recurring \| Fair Value, Inputs, Level 1
Assets, Fair Value Disclosure [Abstract]
Interest rate swaps	0		0
Prepaid expenses and other \| Interest rate swap \| Fair Value, Measurements, Recurring \| Fair Value, Inputs, Level 2
Assets, Fair Value Disclosure [Abstract]
Interest rate swaps	3,673		2,411
Prepaid expenses and other \| Interest rate swap \| Fair Value, Measurements, Recurring \| Fair Value, Inputs, Level 3
Assets, Fair Value Disclosure [Abstract]
Interest rate swaps	0		0
Deferred charges and other assets, net \| Interest rate swap
Assets, Fair Value Disclosure [Abstract]
Interest rate swaps	13,692		10,776
Deferred charges and other assets, net \| Interest rate swap \| Fair Value, Measurements, Recurring
Assets, Fair Value Disclosure [Abstract]
Interest rate swaps	13,692		10,776
Deferred charges and other assets, net \| Interest rate swap \| Fair Value, Measurements, Recurring \| Fair Value, Inputs, Level 1
Assets, Fair Value Disclosure [Abstract]
Interest rate swaps	0		0
Deferred charges and other assets, net \| Interest rate swap \| Fair Value, Measurements, Recurring \| Fair Value, Inputs, Level 2
Assets, Fair Value Disclosure [Abstract]
Interest rate swaps	13,692		10,776
Deferred charges and other assets, net \| Interest rate swap \| Fair Value, Measurements, Recurring \| Fair Value, Inputs, Level 3
Assets, Fair Value Disclosure [Abstract]
Interest rate swaps	0		$ 0
Option to acquire tangible assets
Assets, Fair Value Disclosure [Abstract]
Finite-lived intangible assets		$ 6,497
Option to acquire tangible assets \| Fair Value, Inputs, Level 3
Assets, Fair Value Disclosure [Abstract]
Finite-lived intangible assets	6,497
Option to acquire tangible assets \| Fair Value, Measurements, Recurring
Assets, Fair Value Disclosure [Abstract]
Finite-lived intangible assets	$ 6,497

Fair Value Measurements Fair Value Measurements Using Unobservable Inputs (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Balance, beginning of period	$ 0	$ 0
Option to acquire tangible assets	6,497	0
Balance, end of period	$ 6,497	$ 0
Option to acquire tangible asset, period exercisable	2 years

Property, Plant and Equipment (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Property, plant and equipment [Abstract]
Total property, plant and equipment	$ 1,302,084	$ 1,281,387
Less accumulated amortization and depreciation	630,067	595,060
Net property, plant and equipment	672,017	686,327
Plant in service
Property, plant and equipment [Abstract]
Total property, plant and equipment	1,245,079	1,219,185
Plant under construction
Property, plant and equipment [Abstract]
Total property, plant and equipment	$ 57,005	$ 62,202

Goodwill and Other Intangible Assets - Changes in Carrying Amount of Goodwill (Details) $ in Thousands	Mar. 31, 2018 USD ($)
Goodwill [Roll Forward]
Goodwill beginning balance	$ 146,497
Goodwill ending balance	146,497
Wireless
Goodwill [Roll Forward]
Goodwill beginning balance	146,383
Goodwill ending balance	146,383
Cable
Goodwill [Roll Forward]
Goodwill beginning balance	104
Goodwill ending balance	104
Wireline
Goodwill [Roll Forward]
Goodwill beginning balance	10
Goodwill ending balance	$ 10

Goodwill and Other Intangible Assets - Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Feb. 01, 2018	Dec. 31, 2017
Finite-Lived Intangible Assets [Line Items]
Non-amortizing intangibles:	$ 64,475		$ 64,475
Gross Carrying Amount	497,802		448,988
Accumulated Amortization	(148,740)		(132,484)
Net	349,062	$ 52,000	316,504
Total intangible assets, gross	562,277		513,463
Intangible assets, net	413,537		380,979
Waived management fees under affiliate agreement	69,700
Affiliate Contract Expansion
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	455,306		410,157
Accumulated Amortization	(121,808)		(105,964)
Net	333,498	45,148	304,193
Favorable leases - wireless
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	16,768		13,103
Accumulated Amortization	(1,589)		(1,222)
Net	15,179	$ 3,665	11,881
Acquired subscribers - cable
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	25,265		25,265
Accumulated Amortization	(25,138)		(25,100)
Net	127		165
Other intangibles
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	463		463
Accumulated Amortization	(205)		(198)
Net	258		265
Cable franchise rights
Finite-Lived Intangible Assets [Line Items]
Non-amortizing intangibles:	64,334		64,334
Railroad crossing rights
Finite-Lived Intangible Assets [Line Items]
Non-amortizing intangibles:	$ 141		$ 141

Other Assets and Accrued Liabilities - Current Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Jan. 01, 2018	Dec. 31, 2017
Other Liabilities Disclosure [Abstract]
Prepaid rent	$ 9,687		$ 10,519
Prepaid maintenance expenses	4,282		3,062
Derivative Asset, Current	3,673		2,411
Deferred contract and other costs	46,558		1,119
Prepaid expenses and other	$ 64,200	$ 53,688	$ 17,111

Other Assets and Accrued Liabilities - Long-Term Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Jan. 01, 2018	Dec. 31, 2017
Derivatives, Fair Value [Line Items]
Deferred contract and other costs	$ 20,242		$ 2,914
Deferred charges and other assets, net	33,934	$ 29,797	13,690
Deferred charges and other assets, net \| Interest rate swap
Derivatives, Fair Value [Line Items]
Interest rate swaps	$ 13,692		$ 10,776

Other Assets and Accrued Liabilities - Current Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Other Liabilities Disclosure [Abstract]
Sales and property taxes payable	$ 4,969	$ 3,872
Severance accrual	261	1,028
Asset retirement obligations	923	492
Accrued programming costs	3,029	2,805
Other current liabilities	8,289	5,717
Accrued liabilities and other	$ 17,471	$ 13,914

Other Assets and Accrued Liabilities - Long-Term Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Jan. 01, 2018	Dec. 31, 2017
Other Liabilities Disclosure [Abstract]
Non-current portion of deferred revenues	$ 12,523		$ 14,030
Other	1,264		1,263
Other liabilities	$ 13,787	$ 14,093	$ 15,293

- Definition

The noncurrent portion of deferred revenue amount as of balance sheet date. Deferred revenue is a liability related to a revenue producing activity for which revenue has not yet been recognized, and is not expected to be recognized in the next twelve months. Generally, an entity records deferred revenue when it receives consideration from a customer before achieving certain criteria that must be met for revenue to be recognized in conformity with GAAP.

+ References + Details

Long-Term Debt - Schedule of Long-Term Debt (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Long-term debt	$ 824,375	$ 836,500
Less: unamortized loan fees	13,502	14,542
Total debt, net of unamortized loan fees	810,873	821,958
Current maturities of long term debt, net of unamortized loan fees	74,486	64,397
Long-term debt, less current maturities, net of unamortized loan fees	736,387	757,561
Term loan A-1
Debt Instrument [Line Items]
Long-term debt	424,375	436,500
Term loan A-2
Debt Instrument [Line Items]
Long-term debt	$ 400,000	$ 400,000

Long-Term Debt - Narrative (Details)		3 Months Ended
Long-Term Debt - Narrative (Details)	Feb. 16, 2018 USD ($)	Mar. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)
Debt Instrument [Line Items]
Long-term debt		$ 824,375,000	$ 836,500,000
Unamortized loan fees		$ 13,502,000	14,542,000
Effective interest rate		4.02%
Debt instrument, Principal Balance of Term Loans Outstanding, Hedged, Percentage		50.00%
Fixed rate to pay		1.16%
Leverage ratio two		3.25
Leverage ratio three		3.00
Debt service coverage ratio, actual		3.58
Debt instrument covenants minimum liquidity amount		$ 25,000,000
Reduction in interest rate paid, in basis points	0.05%
Credit facility modification, charitable contributions	$ 1,500,000.0
Maximum
Debt Instrument [Line Items]
Leverage ratio one		3.75
Minimum
Debt Instrument [Line Items]
Debt service coverage ratio, actual		2.00
Term loan A-1
Debt Instrument [Line Items]
Long-term debt		$ 424,375,000	436,500,000
Periodic payment of principal		6,100,000
Periodic payment principal, period two		12,100,000
Periodic payment principal, period three		$ 18,200,000
Term loan A-1 \| London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Variable interest rate		2.25%
Term loan A-2
Debt Instrument [Line Items]
Long-term debt		$ 400,000,000	$ 400,000,000
Periodic payment of principal		$ 10,000,000
Term loan A-2 \| London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Variable interest rate		2.50%

Long-Term Debt - Schedule of Financial Covenants (Details)	3 Months Ended
	Mar. 31, 2018 USD ($)
Debt Disclosure [Abstract]
Leverage ratio, actual	2.95
Covenant requirement, total leverage ratio	3.75
Debt service coverage ratio, actual	3.58
Minimum debt service coverage ratio	2.00
Covenant, liquidity balance, actual	$ 122,834,000
Debt instrument covenants minimum liquidity amount	$ 25,000,000

Segment Reporting - Selected Financial Data for Segments (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
External revenues [Abstract]
Service revenues	$ 123,538	$ 139,645
Equipment revenues	17,579	3,359
Equipment revenues	10,615	10,876
Total operating revenues	151,732	153,880
Operating expenses:
Costs of services	49,342	48,776
Cost of goods sold	15,805	4,985
Selling, general & administrative	28,750	40,153
Acquisition, integration & migration expenses	0	4,489
Depreciation & amortization	43,487	44,804
Total operating expenses	137,384	143,207
Operating income (loss)	14,348	10,673
Wireless
External revenues [Abstract]
Service revenues	89,759	108,186
Equipment revenues	17,374	3,145
Equipment revenues	2,026	2,897
Total operating revenues	109,159	114,228
Cable
External revenues [Abstract]
Service revenues	28,471	26,411
Equipment revenues	159	182
Equipment revenues	2,050	1,853
Total operating revenues	30,680	28,446
Wireline
External revenues [Abstract]
Service revenues	5,308	5,048
Equipment revenues	46	32
Equipment revenues	6,539	6,126
Total operating revenues	11,893	11,206
Other
External revenues [Abstract]
Service revenues	0	0
Equipment revenues	0	0
Equipment revenues	0	0
Total operating revenues	0	0
Operating Segments \| Wireless
External revenues [Abstract]
Total operating revenues	110,398	115,463
Operating expenses:
Costs of services	33,750	33,423
Cost of goods sold	15,727	4,895
Selling, general & administrative	12,135	28,464
Acquisition, integration & migration expenses	0	3,792
Depreciation & amortization	33,925	35,752
Total operating expenses	95,537	106,326
Operating income (loss)	14,861	9,137
Operating Segments \| Cable
External revenues [Abstract]
Total operating revenues	31,711	29,013
Operating expenses:
Costs of services	15,156	15,178
Cost of goods sold	56	50
Selling, general & administrative	4,948	4,858
Acquisition, integration & migration expenses	0	0
Depreciation & amortization	6,024	5,788
Total operating expenses	26,184	25,874
Operating income (loss)	5,527	3,139
Operating Segments \| Wireline
External revenues [Abstract]
Total operating revenues	19,707	19,154
Operating expenses:
Costs of services	9,802	9,233
Cost of goods sold	22	40
Selling, general & administrative	1,717	1,676
Acquisition, integration & migration expenses	0	0
Depreciation & amortization	3,394	3,132
Total operating expenses	14,935	14,081
Operating income (loss)	4,772	5,073
Operating Segments \| Other
External revenues [Abstract]
Total operating revenues	0	0
Operating expenses:
Costs of services	0	0
Cost of goods sold	0	0
Selling, general & administrative	10,668	5,847
Acquisition, integration & migration expenses	0	697
Depreciation & amortization	144	132
Total operating expenses	10,812	6,676
Operating income (loss)	(10,812)	(6,676)
Intersegment Eliminations
External revenues [Abstract]
Total operating revenues	(10,084)	(9,750)
Operating expenses:
Costs of services	(9,366)	(9,058)
Cost of goods sold	0	0
Selling, general & administrative	(718)	(692)
Acquisition, integration & migration expenses	0	0
Depreciation & amortization	0	0
Total operating expenses	(10,084)	(9,750)
Operating income (loss)	0	0
Intersegment Eliminations \| Wireless
External revenues [Abstract]
Total operating revenues	1,239	1,235
Intersegment Eliminations \| Cable
External revenues [Abstract]
Total operating revenues	1,031	567
Intersegment Eliminations \| Wireline
External revenues [Abstract]
Total operating revenues	7,814	7,948
Intersegment Eliminations \| Other
External revenues [Abstract]
Total operating revenues	$ 0	$ 0

Segment Reporting - Reconciliation of Operating Profit (Loss) from Segments to Consolidated (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Reconciliation of income from continuing operations from segments to consolidated [Abstract]
Total consolidated operating income (loss)	$ 14,348	$ 10,673
Interest expense	(9,332)	(9,100)
Non-operating income, net	989	1,375
Income (loss) before income taxes	$ 6,005	$ 2,948