0001628280-19-012899 | 10-Q | XBRL Viewer | Shenandoah Telecommunications Cova

Covenant Requirement

Total leverage ratio

3.50 or Lower

Debt service coverage ratio

2.00 or Higher

Minimum liquidity balance (in millions)

$25.0 or Higher

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Cover Page - shares	9 Months Ended
Cover Page - shares	Sep. 30, 2019	Oct. 25, 2019
Cover page.
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2019
Document Transition Report	false
Entity File Number	000-09881
Entity Incorporation, State or Country Code	VA
Entity Tax Identification Number	54-1162807
Entity Address, Address Line One	500 Shentel Way
Entity Address, City or Town	Edinburg
Entity Address, State or Province	VA
Entity Address, Postal Zip Code	22824
City Area Code	540
Local Phone Number	984-4141
Title of 12(b) Security	Common Stock (No Par Value)
Trading Symbol	SHEN
Security Exchange Name	NASDAQ
Entity Common Stock, Shares Outstanding		49,857,142
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Registrant Name	SHENANDOAH TELECOMMUNICATIONS COMPANY
Entity Central Index Key	0000354963
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q3
Amendment Flag	false

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents	$ 97,415	$ 85,086
Accounts receivable, net of allowance for doubtful accounts of $563 and $534, respectively	60,084	54,407
Income taxes receivable	2,983	5,282
Inventory, net of allowances of $196 and $113, respectively	4,561	5,265
Prepaid expenses and other	56,597	60,162
Total current assets	221,640	210,202
Investments	11,851	10,788
Property, plant and equipment, net	688,516	701,359
Intangible assets, net	328,831	366,029
Goodwill	149,070	146,497
Operating lease right-of-use assets	400,489	0
Deferred charges and other assets	50,469	49,891
Total assets	1,850,866	1,484,766
Current liabilities:
Current maturities of long-term debt, net of unamortized loan fees	31,634	20,618
Accounts payable	26,470	35,987
Advanced billings and customer deposits	8,127	7,919
Accrued compensation	6,915	9,452
Current operating lease liabilities	44,178	0
Accrued liabilities and other	14,731	14,563
Total current liabilities	132,055	88,539
Long-term debt, less current maturities, net of unamortized loan fees	696,378	749,624
Other long-term liabilities:
Deferred income taxes	129,651	127,453
Deferred lease	0	22,436
Asset retirement obligations	29,956	28,584
Retirement plan obligations	10,311	11,519
Noncurrent operating lease liabilities	359,985	0
Other liabilities	16,676	14,364
Total other long-term liabilities	546,579	204,356
Shareholders’ equity:
Common stock, no par value, authorized 96,000; 49,857 and 49,630 issued and outstanding at September 30, 2019 and December 31, 2018, respectively	0	0
Additional paid in capital	48,083	47,456
Retained earnings	427,925	386,511
Accumulated other comprehensive income (loss), net of taxes	(154)	8,280
Total shareholders’ equity	475,854	442,247
Total liabilities and shareholders’ equity	$ 1,850,866	$ 1,484,766

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) shares in Thousands, $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 563	$ 534
Inventory reserve	$ 196	$ 113
Common stock, par value (in dollars per share)	$ 0	$ 0
Common stock, shares authorized (in shares)	96,000	96,000
Common stock, shares issued (in shares)	49,857	49,630
Common stock, shares outstanding (in shares)	49,857	49,630

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Operating revenue:
Operating revenues	$ 155,152	$ 158,731	$ 472,909	$ 469,370
Operating expenses:
Selling, general and administrative	27,178	27,452	83,070	86,117
Depreciation and amortization	36,626	40,028	120,158	124,632
Total operating expenses	129,793	130,402	398,743	403,118
Operating income	25,359	28,329	74,166	66,252
Other income (expense):
Interest expense	(7,505)	(9,001)	(22,981)	(27,184)
Other	1,099	1,054	3,562	2,882
Income before income taxes	18,953	20,382	54,747	41,950
Income tax expense	4,599	4,848	13,333	10,207
Net income	14,354	15,534	41,414	31,743
Other comprehensive income (loss):
Unrealized gain (loss) on interest rate hedge, net of tax	(1,494)		(8,434)
Unrealized gain (loss) on interest rate hedge, net of tax		465		4,360
Comprehensive income	$ 12,860	$ 15,999	$ 32,980	$ 36,103
Net income per share, basic and diluted:
Basic net income per share (in dollars per share)	$ 0.29	$ 0.31	$ 0.83	$ 0.64
Diluted net income per share (in dollars per share)	$ 0.29	$ 0.31	$ 0.83	$ 0.63
Weighted average shares outstanding, basic (in shares)	49,857	49,559	49,827	49,527
Weighted average shares outstanding, diluted (in shares)	50,129	50,117	50,110	50,044
Service revenue and other
Operating revenue:
Operating revenues	$ 138,832	$ 142,768	$ 424,122	$ 419,819
Equipment revenue
Operating revenue:
Operating revenues	16,320	15,963	48,787	49,551
Cost of services
Operating expenses:
Cost of services	50,164	47,886	149,179	146,362
Cost of goods sold
Operating expenses:
Cost of services	$ 15,825	$ 15,036	$ 46,336	$ 46,007

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - 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
Beginning balance at Dec. 31, 2017	$ 350,222		$ 44,787	$ 297,205	$ 8,230
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	31,743			31,743
Other comprehensive gain (loss), net of tax	4,360				4,360
Stock based compensation (in shares)		206
Stock based compensation	4,578		4,578
Stock options exercised (in shares)		15
Stock options exercised	104		104
Common stock issued	18		18
Shares retired for settlement of employee taxes upon issuance of vested equity awards (in shares)		(66)
Shares retired for settlement of employee taxes upon issuance of vested equity awards	$ (2,137)		(2,137)
Common stock issued to acquire non-controlling interests of nTelos (in shares)	76
Ending balance (in shares) at Sep. 30, 2018		49,559
Ending balance at Sep. 30, 2018	$ 444,985		47,350	385,045	12,590
Beginning balance (in shares) at Jun. 30, 2018		49,558
Beginning balance at Jun. 30, 2018	427,808		46,172	369,511	12,125
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	15,534			15,534
Other comprehensive gain (loss), net of tax	465				465
Stock based compensation (in shares)		1
Stock based compensation	1,171		1,171
Common stock issued	8		8
Shares retired for settlement of employee taxes upon issuance of vested equity awards (in shares)		0
Shares retired for settlement of employee taxes upon issuance of vested equity awards	(1)		(1)
Ending balance (in shares) at Sep. 30, 2018		49,559
Ending balance at Sep. 30, 2018	$ 444,985		47,350	385,045	12,590
Beginning balance (in shares) at Dec. 31, 2018	49,630	49,630
Beginning balance at Dec. 31, 2018	$ 442,247		47,456	386,511	8,280
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	41,414			41,414
Other comprehensive gain (loss), net of tax	(8,434)				(8,434)
Stock based compensation (in shares)		184
Stock based compensation	3,433		3,433
Stock options exercised (in shares)		29
Stock options exercised	81		81
Common stock issued	25		25
Shares retired for settlement of employee taxes upon issuance of vested equity awards (in shares)		(62)
Shares retired for settlement of employee taxes upon issuance of vested equity awards	$ (2,912)		(2,912)
Common stock issued to acquire non-controlling interests of nTelos (in shares)	76
Ending balance (in shares) at Sep. 30, 2019	49,857	49,857
Ending balance at Sep. 30, 2019	$ 475,854		48,083	427,925	(154)
Beginning balance (in shares) at Jun. 30, 2019		49,857
Beginning balance at Jun. 30, 2019	462,049		47,138	413,571	1,340
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	14,354			14,354
Other comprehensive gain (loss), net of tax	(1,494)				(1,494)
Stock based compensation	936		936
Common stock issued	$ 9		9
Ending balance (in shares) at Sep. 30, 2019	49,857	49,857
Ending balance at Sep. 30, 2019	$ 475,854		$ 48,083	$ 427,925	$ (154)

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Cash Flows From Operating Activities
Net income	$ 41,414	$ 31,743
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	104,503	106,002
Amortization	15,655	18,630
Accretion of asset retirement obligations	1,093	710
Bad debt expense	1,215	1,362
Stock based compensation expense, net of amount capitalized	3,158	4,578
Deferred income taxes	4,999	(1,989)
Net gain from patronage and investments	(3,035)	(2,412)
Amortization of long-term debt issuance costs	2,596	3,472
Changes in assets and liabilities:
Accounts receivable	(4,894)	(5,492)
Inventory, net	704	741
Current income taxes	2,299	14,932
Waived management fee	29,016	28,164
Other assets	(15,073)	(13,393)
Operating lease right-of-use assets	38,262
Lease liabilities	(32,173)
Accounts payable	7,023	(1,913)
Deferred lease	0	4,159
Other deferrals and accruals	(3,303)	(494)
Net cash provided by operating activities	193,459	188,800
Cash flows from investing activities:
Capital expenditures	(107,038)	(92,309)
Cash disbursed for acquisitions	(10,000)	(52,000)
Cash disbursed for FCC spectrum licenses	(16,742)	0
Proceeds from sale of assets and other	156	539
Net cash used in investing activities	(133,624)	(143,770)
Cash flows from financing activities:
Principal payments on long-term debt	(44,666)	(46,375)
Proceeds from revolving credit facility borrowings	0	15,000
Principal payments on revolving credit facility	0	(15,000)
Proceeds from exercises of stock options	81	0
Taxes paid for equity award issuances	(2,912)	(2,033)
Other	(9)	0
Net cash used in financing activities	(47,506)	(48,408)
Net increase (decrease) in cash and cash equivalents	12,329	(3,378)
Cash and cash equivalents, beginning of period	85,086	78,585
Cash and cash equivalents, end of period	$ 97,415	$ 75,207

Basis of Presentation	9 Months Ended
Basis of Presentation	Sep. 30, 2019
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, 2018. 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 2018 Annual Report on Form 10-K, that would be expected to impact the Company except for the following: The Company adopted ASU No. 2018-02, Income Statement - Reporting Comprehensive Income (Topic 220), as of January 1, 2019. The Company elected not to reclassify stranded income tax effects from accumulated other comprehensive income (OCI) to retained earnings and has implemented this election as its accounting policy as of January 1, 2019. The Company utilizes the portfolio approach as its policy to release the income tax effects from accumulated OCI as the entire portfolio is liquidated, sold, or extinguished. The Company adopted ASU No. 2016-02, Leases (“Topic 842” or “the new lease standard”) on January 1, 2019. Topic 842 replaces previous leasing guidance with a comprehensive lease measurement and recognition standard and expanded disclosure requirements. Topic 842 requires lessees to recognize most leases on their balance sheet as liabilities, with corresponding right-of-use, or ROU assets. The Company adopted the new lease standard utilizing the modified retrospective approach. As a result, comparable period information has not been retrospectively updated. The modified retrospective approach includes a package of optional practical expedients that we elected to apply. As a result, the Company did not reassess prior conclusions regarding lease identification, lease classification and initial direct costs under the new standard. In those circumstances where the Company is the lessee, we have elected to account for non-lease components associated with our leases (e.g., maintenance costs) and lease components as a single lease component for substantially all of our asset classes under Topic 842.

Leases

9 Months Ended

Sep. 30, 2019

Leases [Abstract]

Leases

The Company leases various cell sites, warehouses, retail stores, and office facilities for use in our business. These agreements include fixed rental payments as well as variable rental payments, such as those based on relevant inflation indices. The accounting lease term includes optional renewal periods that we are reasonably certain to exercise based on our assessment of relevant contractual and economic factors. The related lease payments are discounted at lease commencement using the Company's incremental borrowing rate in order to measure the lease liability and ROU asset.

The incremental borrowing rate is determined using a portfolio approach based on the rate of interest that the Company would have to pay to borrow an amount equal to the lease payments on a collateralized basis over a similar term. The Company uses the observable unsecured borrowing rate and risk-adjusts that rate to approximate a collateralized rate. Under the new lease standard, leases are remeasured upon the occurrence of certain events or modifications.

Adoption of the new lease standard did not materially impact the Company's consolidated net earnings, cash flows, liquidity, or loan covenants.

The cumulative effect of the changes made to the consolidated January 1, 2019 balance sheet for the adoption of the new lease standard were as follows:



(in thousands)	December 31, 2018 As Previously Reported		Effect of the Adoption of ASC Topic 842 (Leases)			January 1, 2019 As Adjusted
Assets
Prepaid expenses and other	$	60,162	$	(11,580	)	$	48,582
Property, plant and equipment, net	701,359		1,789			703,148
Operating lease right-of-use assets	—		369,344			369,344
Intangible assets, net	366,029		(13,828		)	352,201
Liabilities
Current operating lease liabilities	—		38,773			38,773
Accrued liabilities and other	14,563		(412		)	14,151
Deferred Lease	22,436		(22,436		)	—
Noncurrent operating lease liabilities	—		328,156			328,156
Other liabilities	14,364		1,644			16,008

In addition to recognizing the operating lease liabilities and right-of-use assets, Topic 842 also reclassified prepaid and deferred rent balances, off-market leases, and lease incentives into the right-of-use assets.

The following table shows the components of lease income and costs:



(in thousands)	Three Months Ended September 30, 2019		Nine Months Ended September 30, 2019
Lease income from operating leases - fixed	$	2,149	$	6,219

Operating lease expense	18,151		51,811

Amortization of finance lease assets	158		399
Interest on finance lease liabilities	14		59
Subtotal finance lease cost	172		458

Total lease expense	$	18,323	$	52,269

Substantially all of the Company's sublease income from operating leases relates to fixed lease payments.

All operating lease expenses, including short-term and variable lease expenses, are split between cost of service and selling, general and administrative expense in the condensed consolidated statements of operations based on the use of the facility that the rent is being paid on. Operating lease expense includes variable lease payments and short-term lease expense, both of which are immaterial. Variable lease expenses represent payments that are dependent on a rate or index, or on usage of the asset.

The following table summarizes other information related to operating and finance leases:



(in thousands)	Three Months Ended September 30, 2019		Nine Months Ended September 30, 2019

Operating cash flows used by leases	$	16,002	$	46,546
Leased assets obtained in exchange for new operating lease liabilities	43,647		69,407

The following table summarizes the lease terms and discount rates:



	September 30, 2019
Weighted-average remaining lease term (years)
Operating leases	8
Finance leases	16
Weighted-average discount rate
Operating leases	4.6	%
Finance leases	5.2	%

The following table summarizes the expected maturity of lease liabilities at September 30, 2019:



(in thousands)	Operating Leases		Finance Leases		Total
2019	$	12,742	$	63	$	12,805
2020	64,474		174		64,648
2021	65,087		174		65,261
2022	63,341		174		63,515
2023	59,885		174		60,059
2024 and thereafter	242,115		1,704		243,819
Total lease payments	507,644		2,463		510,107
Less: Interest	103,481		748		104,229
Present value of lease liabilities	$	404,163	$	1,715	$	405,878

The Company's finance lease liabilities are presented in the accrued liabilities and other and the other liabilities lines of the unaudited condensed consolidated balance sheets. The related finance lease assets are included in the property, plant and equipment line.

Our commitments under leases existing as of December 31, 2018 were approximately $55.1 million for the year ending December 31, 2019, $104.4 million in total for the years ending December 31, 2020 and 2021, $97.6 million in total for the years ending December 31, 2022 and 2023 and $168.5 million in total for years thereafter.

The Company is also the lessor on agreements to lease assets such as collocation space at cell sites and dedicated fiber-optic strands to third parties. These agreements have been accounted for as operating leases both before and after adoption of the new lease standard. The new lease standard did not have a significant impact on the recognition of lease revenue associated with these agreements. The following table summarizes the total minimum rental receipts under lease agreements at September 30, 2019:



(in thousands)	Operating Leases
2019	$	1,774
2020	6,621
2021	4,526
2022	3,432
2023	1,801
2024 and thereafter	4,978
Total lease income	$	23,132

Leases

Adoption of the new lease standard did not materially impact the Company's consolidated net earnings, cash flows, liquidity, or loan covenants.

The cumulative effect of the changes made to the consolidated January 1, 2019 balance sheet for the adoption of the new lease standard were as follows:



(in thousands)	December 31, 2018 As Previously Reported		Effect of the Adoption of ASC Topic 842 (Leases)			January 1, 2019 As Adjusted
Assets
Prepaid expenses and other	$	60,162	$	(11,580	)	$	48,582
Property, plant and equipment, net	701,359		1,789			703,148
Operating lease right-of-use assets	—		369,344			369,344
Intangible assets, net	366,029		(13,828		)	352,201
Liabilities
Current operating lease liabilities	—		38,773			38,773
Accrued liabilities and other	14,563		(412		)	14,151
Deferred Lease	22,436		(22,436		)	—
Noncurrent operating lease liabilities	—		328,156			328,156
Other liabilities	14,364		1,644			16,008

The following table shows the components of lease income and costs:



(in thousands)	Three Months Ended September 30, 2019		Nine Months Ended September 30, 2019
Lease income from operating leases - fixed	$	2,149	$	6,219

Operating lease expense	18,151		51,811

Amortization of finance lease assets	158		399
Interest on finance lease liabilities	14		59
Subtotal finance lease cost	172		458

Total lease expense	$	18,323	$	52,269

Substantially all of the Company's sublease income from operating leases relates to fixed lease payments.

The following table summarizes other information related to operating and finance leases:



(in thousands)	Three Months Ended September 30, 2019		Nine Months Ended September 30, 2019

Operating cash flows used by leases	$	16,002	$	46,546
Leased assets obtained in exchange for new operating lease liabilities	43,647		69,407

The following table summarizes the lease terms and discount rates:



	September 30, 2019
Weighted-average remaining lease term (years)
Operating leases	8
Finance leases	16
Weighted-average discount rate
Operating leases	4.6	%
Finance leases	5.2	%

The following table summarizes the expected maturity of lease liabilities at September 30, 2019:



(in thousands)	Operating Leases		Finance Leases		Total
2019	$	12,742	$	63	$	12,805
2020	64,474		174		64,648
2021	65,087		174		65,261
2022	63,341		174		63,515
2023	59,885		174		60,059
2024 and thereafter	242,115		1,704		243,819
Total lease payments	507,644		2,463		510,107
Less: Interest	103,481		748		104,229
Present value of lease liabilities	$	404,163	$	1,715	$	405,878



(in thousands)	Operating Leases
2019	$	1,774
2020	6,621
2021	4,526
2022	3,432
2023	1,801
2024 and thereafter	4,978
Total lease income	$	23,132

Leases

Adoption of the new lease standard did not materially impact the Company's consolidated net earnings, cash flows, liquidity, or loan covenants.

The cumulative effect of the changes made to the consolidated January 1, 2019 balance sheet for the adoption of the new lease standard were as follows:



(in thousands)	December 31, 2018 As Previously Reported		Effect of the Adoption of ASC Topic 842 (Leases)			January 1, 2019 As Adjusted
Assets
Prepaid expenses and other	$	60,162	$	(11,580	)	$	48,582
Property, plant and equipment, net	701,359		1,789			703,148
Operating lease right-of-use assets	—		369,344			369,344
Intangible assets, net	366,029		(13,828		)	352,201
Liabilities
Current operating lease liabilities	—		38,773			38,773
Accrued liabilities and other	14,563		(412		)	14,151
Deferred Lease	22,436		(22,436		)	—
Noncurrent operating lease liabilities	—		328,156			328,156
Other liabilities	14,364		1,644			16,008

The following table shows the components of lease income and costs:



(in thousands)	Three Months Ended September 30, 2019		Nine Months Ended September 30, 2019
Lease income from operating leases - fixed	$	2,149	$	6,219

Operating lease expense	18,151		51,811

Amortization of finance lease assets	158		399
Interest on finance lease liabilities	14		59
Subtotal finance lease cost	172		458

Total lease expense	$	18,323	$	52,269

Substantially all of the Company's sublease income from operating leases relates to fixed lease payments.

The following table summarizes other information related to operating and finance leases:



(in thousands)	Three Months Ended September 30, 2019		Nine Months Ended September 30, 2019

Operating cash flows used by leases	$	16,002	$	46,546
Leased assets obtained in exchange for new operating lease liabilities	43,647		69,407

The following table summarizes the lease terms and discount rates:



	September 30, 2019
Weighted-average remaining lease term (years)
Operating leases	8
Finance leases	16
Weighted-average discount rate
Operating leases	4.6	%
Finance leases	5.2	%

The following table summarizes the expected maturity of lease liabilities at September 30, 2019:



(in thousands)	Operating Leases		Finance Leases		Total
2019	$	12,742	$	63	$	12,805
2020	64,474		174		64,648
2021	65,087		174		65,261
2022	63,341		174		63,515
2023	59,885		174		60,059
2024 and thereafter	242,115		1,704		243,819
Total lease payments	507,644		2,463		510,107
Less: Interest	103,481		748		104,229
Present value of lease liabilities	$	404,163	$	1,715	$	405,878



(in thousands)	Operating Leases
2019	$	1,774
2020	6,621
2021	4,526
2022	3,432
2023	1,801
2024 and thereafter	4,978
Total lease income	$	23,132

Leases

Adoption of the new lease standard did not materially impact the Company's consolidated net earnings, cash flows, liquidity, or loan covenants.

The cumulative effect of the changes made to the consolidated January 1, 2019 balance sheet for the adoption of the new lease standard were as follows:



(in thousands)	December 31, 2018 As Previously Reported		Effect of the Adoption of ASC Topic 842 (Leases)			January 1, 2019 As Adjusted
Assets
Prepaid expenses and other	$	60,162	$	(11,580	)	$	48,582
Property, plant and equipment, net	701,359		1,789			703,148
Operating lease right-of-use assets	—		369,344			369,344
Intangible assets, net	366,029		(13,828		)	352,201
Liabilities
Current operating lease liabilities	—		38,773			38,773
Accrued liabilities and other	14,563		(412		)	14,151
Deferred Lease	22,436		(22,436		)	—
Noncurrent operating lease liabilities	—		328,156			328,156
Other liabilities	14,364		1,644			16,008

The following table shows the components of lease income and costs:



(in thousands)	Three Months Ended September 30, 2019		Nine Months Ended September 30, 2019
Lease income from operating leases - fixed	$	2,149	$	6,219

Operating lease expense	18,151		51,811

Amortization of finance lease assets	158		399
Interest on finance lease liabilities	14		59
Subtotal finance lease cost	172		458

Total lease expense	$	18,323	$	52,269

Substantially all of the Company's sublease income from operating leases relates to fixed lease payments.

The following table summarizes other information related to operating and finance leases:



(in thousands)	Three Months Ended September 30, 2019		Nine Months Ended September 30, 2019

Operating cash flows used by leases	$	16,002	$	46,546
Leased assets obtained in exchange for new operating lease liabilities	43,647		69,407

The following table summarizes the lease terms and discount rates:



	September 30, 2019
Weighted-average remaining lease term (years)
Operating leases	8
Finance leases	16
Weighted-average discount rate
Operating leases	4.6	%
Finance leases	5.2	%

The following table summarizes the expected maturity of lease liabilities at September 30, 2019:



(in thousands)	Operating Leases		Finance Leases		Total
2019	$	12,742	$	63	$	12,805
2020	64,474		174		64,648
2021	65,087		174		65,261
2022	63,341		174		63,515
2023	59,885		174		60,059
2024 and thereafter	242,115		1,704		243,819
Total lease payments	507,644		2,463		510,107
Less: Interest	103,481		748		104,229
Present value of lease liabilities	$	404,163	$	1,715	$	405,878



(in thousands)	Operating Leases
2019	$	1,774
2020	6,621
2021	4,526
2022	3,432
2023	1,801
2024 and thereafter	4,978
Total lease income	$	23,132

Revenue from Contracts with Customers

9 Months Ended

Sep. 30, 2019

Revenue from Contract with Customer [Abstract]

Revenue from Contracts with Customers

The Company earns revenue primarily through the sale of its wireless service. Additional revenue is earned from the sale of wireless equipment; from business, residential and enterprise services which provide video, broadband, and voice services; and

from tower and other services. Refer to Note 14, Segment Reporting, for a tabular summary of revenue for the three and nine months ended September 30, 2019.

Wireless service

The Company earns revenue primarily through the sale of its wireless service by providing network access to Sprint under the affiliate agreement. Wireless service revenue is variable based on billed revenue to Sprint’s subscribers that originated in the Company's affiliate area, less applicable fees retained by Sprint.

The Company's revenue related to Sprint’s postpaid customers is the amount that Sprint bills its postpaid subscribers, reduced by customer credits, estimates of bad debt, and 8% management and 8.6% service fees. 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 revenue related to Sprint’s prepaid customers is the amount that Sprint bills its prepaid subscribers, reduced by costs to acquire and support the customers, based on national averages for Sprint’s prepaid programs, and a 6% management fee.

Under our affiliate agreement with Sprint, we have historically earned and recognized monthly revenue of $1.5 million for providing service to Sprint customers who pass through our network area ("Travel Revenue"). While we continue to provide these services to Sprint, the agreed upon payments were suspended by Sprint on April 30, 2019. Accordingly, we have ceased recognizing revenue for the services provided after that date until a new prospective fee can be agreed. We have commenced final dispute resolution proceedings to settle this dispute and expect it to be settled by early 2020.

The Company considers Sprint, rather than Sprint's subscribers, to be the customer and the Company's performance obligation is to provide Sprint a series of continuous network access services within the Sprint Affiliate Area. The Company determined that reimbursements to Sprint including the cost of prepaid handsets and commissions, and postpaid commissions paid by Sprint to third-party resellers, represent consideration payable to a customer. These reimbursements are initially recorded as a contract asset and are subsequently recognized as a reduction of revenue over the expected benefit period between 21 and 53 months. Contract asset balances and activity for 2019 were as follows:



	Three Months Ended September 30,						Nine Months Ended September 30,
(in thousands)	2019			2018			2019			2018
Beginning balance	$	73,789		$	57,256		$	65,674		$	51,103
Contract payments	20,761			16,421			56,477			44,790
Contract amortization	(14,930		)	(11,861		)	(42,531		)	(34,077		)
Ending balance	$	79,620		$	61,816		$	79,620		$	61,816

Wireless equipment

The Company also earns revenue through the sale of wireless equipment. The Company owns and operates Sprint-branded retail stores within the Sprint Affiliate Area from which the Company sells equipment, primarily wireless handsets, and service to Sprint subscribers. The Company's equipment is predominantly sold to subscribers through Sprint's equipment financing plans. Under the equipment financing plans, Sprint purchases the equipment from the Company and resells the equipment to its subscribers. The Company is the principal in these equipment financing transactions, as it controls and bears the risk of ownership of the inventory prior to sale, and accordingly, revenue and handset costs are recorded on a gross basis, and the corresponding cost of the equipment is recorded separately to cost of goods sold.

Business, residential and enterprise

The Company also earns revenue in the Cable and Wireline segments from the sale of business, residential, and enterprise services to customers where the performance obligations are to provide cable, broadband, and telephone network services, sell and lease equipment and wiring services, and lease fiber-optic cable. The Company's arrangements for residential services 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 recognizes this revenue 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.

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. Additionally, the Company incurs commission and installation costs related to in-house employees and third-party vendors which are capitalized and amortized over the expected benefit period which is approximately 44 months and 72 months for Cable and Wireline, respectively.

Tower and Other

The Company also earns revenue from tower and other services. Tower revenue consists primarily of tower collocation space on cell towers owned by the Company accounted for under Topic 842, Leases. Other revenue includes network access-related charges for service provided to customers across the segments.

Future performance obligations

On September 30, 2019, the Company had approximately $3.5 million allocated to unsatisfied performance obligations, which excludes contracts with original expected duration of one year or less. The following table summarizes the approximate amounts expected to be recognized as revenue after September 30, 2019.



	Amount Expected to be Recognized as Revenue:
(in thousands)
2019	$	219
2020	850
2021	770
2022 and thereafter	1,707
Total	$	3,546

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 the Cable and Wireline segments. Capitalized contract assets, including commissions and installation costs, are amortized on a straight-line basis over the average customer life of 44 months and 72 months for Cable and Wireline, respectively. The Company elected to apply 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. Amortized and capitalized costs for Cable and Wireline contracts were as follows:



	Three Months Ended September 30,						Nine Months Ended September 30,
(in thousands)	2019			2018			2019			2018
Beginning Balance	$	10,476		$	9,755		$	10,091		$	9,841
Contract payments	1,840			1,613			4,996			4,246
Contract amortization	(1,399		)	(1,339		)	(4,170		)	(4,058		)
Ending Balance	$	10,917		$	10,029		$	10,917		$	10,029

Acquisition	9 Months Ended
Acquisition	Sep. 30, 2019
Business Combinations [Abstract]
Acquisition	Acquisitions Big Sandy On February 28, 2019, the Company completed its preliminary valuation for the acquisition of the assets of Big Sandy Broadband, Inc. ("Big Sandy") for $10 million and recorded $4.6 million of property, plant and equipment; $2.8 million of subscriber relationships; and $2.6 million of goodwill which is reported in the Cable segment and was accounted for as a business combination under ASC 805, Business Combinations. The estimated remaining useful lives of the acquired property, plant and equipment were approximately 2.5 years to 12.5 years and the estimated useful lives for subscriber relationships were 7 years at the time of the acquisition. Big Sandy was a provider of cable television, telephone and high speed internet services. Our preliminary allocation of the acquisition price is based on our preliminary estimate of fair value for each of the acquired assets and liabilities. These estimates may be revised during the one year measurement period provided by the authoritative guidance applicable to business combinations.

Customer Concentration	9 Months Ended
Customer Concentration	Sep. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [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. The Agreement has been amended numerous times. Under the amended Agreement, the Company is the exclusive PCS Affiliate of Sprint providing wireless mobility communications network products and services on the 800 MHz, 1900 MHz and 2.5 GHz spectrum ranges 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. Effective February 1, 2018, the Company amended its Agreement with Sprint to expand its wireless service area to include certain areas in Kentucky, Pennsylvania, Virginia and West Virginia. 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 initial term of the Agreement extends through November 2029, with two successive 10-year renewal periods, unless terminated by either party under provisions outlined in the Agreement. Upon non-renewal by either party, the Company may cause Sprint to buy or Sprint may cause the Company 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 Shentel has continued access to the spectrum. Determination of EBV is made by an independent appraisal process.

Earnings Per Share (EPS)

9 Months Ended

Sep. 30, 2019

Earnings Per Share [Abstract]

Earnings Per Share (EPS)

Earnings Per Share ("EPS")

Basic EPS was computed by dividing net income by the weighted average number of shares of common stock outstanding. Diluted EPS was computed under the treasury stock method 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 unvested equity awards that are expected to vest 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:



	Three Months Ended September 30,				Nine Months Ended September 30,
(in thousands, except per share amounts)	2019		2018		2019		2018
Calculation of net income per share:
Net income	$	14,354	$	15,534	$	41,414	$	31,743
Basic weighted average shares outstanding	49,857		49,559		49,827		49,527
Basic net income per share	$	0.29	$	0.31	$	0.83	$	0.64

Effect of stock options outstanding:
Basic weighted average shares outstanding	49,857		49,559		49,827		49,527
Effect from dilutive shares and options outstanding	272		558		283		517
Diluted weighted average shares outstanding	50,129		50,117		50,110		50,044
Diluted net income per share	$	0.29	$	0.31	$	0.83	$	0.63

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 were as follows:



	Three Months Ended September 30,		Nine Months Ended September 30,
(in thousands)	2019	2018	2019	2018
Awards excluded from the computation of diluted net income per share because their inclusion would have been anti-dilutive	93	13	109	60

Investments

9 Months Ended

Sep. 30, 2019

Investments [Abstract]

Investments

Investments consist of the following:



(in thousands)	September 30, 2019		December 31, 2018
Domestic equity funds	$	1,681	$	1,409
International equity funds	421		370
Total investments carried at fair value	2,102		1,779

CoBank	8,368		7,705
Equity in other telecommunications partners	767		782
Total investments carried at cost	9,135		8,487

Other	614		522
Total equity method investments	614		522

Total investments	$	11,851	$	10,788

The Company determines classification for investments at the date individual investments are acquired. The appropriateness of such classification is periodically reassessed. The Company monitors the value of all investments, and based on factors such as market conditions, financial information and industry conditions, the Company reflects impairments in values when warranted. The domestic and international equity funds are carried at their fair value as determined by using the net asset value expedient.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Property, Plant and Equipment

9 Months Ended

Sep. 30, 2019

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

Property, plant and equipment consisted of the following:



(in thousands)	Estimated Useful Lives	September 30, 2019		December 31, 2018
Land		$	6,936	$	6,723
Buildings and structures	10 - 40 years	231,962		213,657
Cable and fiber	15 - 40 years	321,963		309,928
Equipment and software	3 - 20 years	839,624		791,401
Plant in service		1,400,485		1,321,709
Plant under construction		70,674		81,409
Total property, plant and equipment		1,471,159		1,403,118
Less: accumulated amortization and depreciation		782,643		701,759
Property, plant and equipment, net		$	688,516	$	701,359

The Company prospectively changed the estimated useful life of certain tower, antenna, and fiber assets during 2019 based on the Company's experience as well as observable examples in the industry. Depreciation expense was approximately $0.8 million lower as a result for the three and nine months ended September 30, 2019.

Goodwill and Other Intangible Assets

9 Months Ended

Sep. 30, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets

Goodwill by segment consisted of the following:



(in thousands)	September 30, 2019		December 31, 2018
Wireless	$	146,383	$	146,383
Cable	2,677		104
Wireline	10		10
Total Goodwill	$	149,070	$	146,497

Intangible assets consisted of the following:



	September 30, 2019							December 31, 2018
(in thousands)	Gross Carrying Amount		Accumulated Amortization and Other			Net		Gross Carrying Amount		Accumulated Amortization and Other			Net
Non-amortizing intangibles:
Cable franchise rights	$	64,334	$	—		$	64,334	$	64,334	$	—		$	64,334
FCC spectrum licenses	13,839		—			13,839		—		—			—
Railroad crossing rights	141		—			141		141		—			141
Total non-amortizing intangibles	78,314		—			78,314		64,475		—			64,475

Finite-lived intangibles:
Sprint affiliate contract expansion - Wireless	455,305		(212,194		)	243,111		455,305		(167,830		)	287,475
FCC spectrum licenses	4,659		(39		)	4,620		—		—			—
Favorable leases - Wireless	—		—			—		15,743		(1,919		)	13,824
Acquired subscribers - Cable	28,065		(25,499		)	2,566		25,265		(25,250		)	15
Other intangibles	463		(243		)	220		463		(223		)	240
Total finite-lived intangibles	488,492		(237,975		)	250,517		496,776		(195,222		)	301,554
Total intangible assets	$	566,806	$	(237,975	)	$	328,831	$	561,251	$	(195,222	)	$	366,029

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 were $9.7 million and $29.0 million for the three and nine months ended September 30, 2019, respectively. Since May 6, 2016, the date of the non-monetary exchange, waived management fees received from Sprint have totaled $127.4 million, and the Company expects to collect another $128.2 million, up to $4.2 million per month, through 2022.

FCC Spectrum Licenses

During the third quarter of 2019, the Company purchased certain indefinite-lived spectrum licenses for $13.8 million. Spectrum licenses are issued by the Federal Communications Commission (“FCC”) which provide us the exclusive right to utilize designated radio frequency spectrum within specific geographic service areas to provide wireless communication services. While some spectrum licenses are issued for a fixed time (generally up to fifteen years), renewals have been granted routinely and at nominal costs. The Company believes it will be able to meet all requirements necessary to secure renewal of its spectrum licenses. Moreover, the Company has determined that there are currently no legal, regulatory, contractual, competitive, economic or other factors that limit the useful lives of our spectrum licenses and as a result, we account for spectrum licenses as indefinite-lived intangible assets. During the third quarter of 2019, the Company also acquired certain definite-lived spectrum licenses for $4.7 million. These licenses are being amortized over their remaining contractual lives of approximately 20 years.

Derivatives and Hedging

9 Months Ended

Sep. 30, 2019

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivatives and Hedging

The Company uses derivative financial instruments to manage its exposure to interest rate risk for its long-term variable-rate debt through interest rate swaps. The Company's interest rate swaps are all designated as cash flow hedges, and involve the receipt of variable-rate amounts from counterparties in exchange for the Company making fixed-rate payments over the life of the agreements without exchange of the underlying notional amount.

The outstanding notional amounts of these swaps was $292.6 million and $384.0 million as of September 30, 2019 and December 31, 2018, respectively.

The table below presents the fair value of the Company’s derivative financial instruments as well as their classification in the condensed consolidated balance sheets. The fair value of these instruments was estimated using an income approach and observable market inputs (Level II):



(in thousands)	September 30, 2019		December 31, 2018
Balance sheet location of derivative financial instruments:
Prepaid expenses and other	$	1,483	$	4,930
Deferred charges and other assets, net	536		8,323
Total derivatives designated as hedging instruments	$	2,019	$	13,253

The table below summarizes changes in accumulated other comprehensive income (loss) by component:



	Nine Months Ended September 30, 2019
(in thousands)	Accumulated Gains (Losses) on Cash Flow Hedges			Income Tax (Expense) Benefit			Accumulated Other Comprehensive Income (Loss), net of taxes
Balance as of December 31, 2018	$	13,253		$	(4,973	)	$	8,280
Unrealized gain (loss)	(7,741		)	1,929			(5,812		)
Amounts reclassified from accumulated other comprehensive income to interest expense	(3,493		)	871			(2,622		)
Net current period other comprehensive income (loss)	(11,234		)	2,800			(8,434		)
Balance as of September 30, 2019	$	2,019		$	(2,173	)	$	(154	)

Other Assets and Accrued Liabilities

9 Months Ended

Sep. 30, 2019

Other Liabilities Disclosure [Abstract]

Other Assets and Accrued Liabilities

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



(in thousands)	September 30, 2019		December 31, 2018
Prepaid rent	$	—	$	11,245
Prepaid maintenance expenses	3,788		3,981
Interest rate swaps	1,483		4,930
Wireless contract asset	41,878		33,323
Contract acquisition and fulfillment costs	4,861		4,634
Other	4,587		2,049
Prepaid expenses and other	$	56,597	$	60,162

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



(in thousands)	September 30, 2019		December 31, 2018
Interest rate swaps	$	536	$	8,323
Wireless contract asset	37,742		32,351
Contract acquisition and fulfillment costs	6,056		5,457
Other	6,135		3,760
Deferred charges and other assets	$	50,469	$	49,891

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



(in thousands)	September 30, 2019		December 31, 2018
Sales and property taxes payable	$	4,409	$	4,281
Asset retirement obligations	407		582
Accrued programming costs	3,125		2,886
Financing leases	89		—
FCC spectrum licenses	87		—
Other current liabilities	6,614		6,814
Accrued liabilities and other	$	14,731	$	14,563

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



(in thousands)	September 30, 2019		December 31, 2018
Noncurrent portion of deferred lease revenue	$	12,613	$	12,593
FCC spectrum licenses	1,687		—
Noncurrent portion of financing leases	1,627		—
Other	749		1,771
Other liabilities	$	16,676	$	14,364

Topic 842 requires the Company to include fixed payments for maintenance activities in its measurement of lease liabilities since the Company elected not to separate lease and non-lease components. Liabilities for the Company's financing leases were established with the adoption of Topic 842, as of January 1, 2019, to reflect the present value of fixed payments for maintenance activities. Refer to Note 2, Leases, for additional information.

Long-Term Debt

9 Months Ended

Sep. 30, 2019

Debt Disclosure [Abstract]

Long-Term Debt

Total debt consisted of the following:



(in thousands)	September 30, 2019		December 31, 2018
Term loan A-1	$	265,855	$	287,699
Term loan A-2	474,715		497,537
	740,570		785,236
Less: unamortized loan fees	12,558		14,994
Total debt, net of unamortized loan fees	$	728,012	$	770,242

Current maturities of long-term debt, net of current unamortized loan fees	$	31,634	$	20,618
Long-term debt, less current maturities, net of unamortized loan fees	$	696,378	$	749,624

As of September 30, 2019, the Company's indebtedness totaled approximately $728.0 million, net of unamortized loan fees of $12.6 million, with an annualized overall weighted average interest rate of approximately 3.63%. In September of 2019, the Company's interest rate decreased by 25 basis points as the net leverage ratio, as defined in the Company's credit facility, dropped below the 2.25x threshold. As of September 30, 2019, the Term Loan A-1 bears interest at one-month London Interbank Offered Rate ("LIBOR") plus a base rate of 1.50%, while the Term Loan A-2 bears interest at one-month LIBOR plus a base rate of 1.75%. LIBOR resets monthly.

The amended Term Loan A-1 requires quarterly principal repayments of $3.6 million, which began on December 31, 2018 and continued through September 30, 2019, increasing to $7.3 million quarterly from December 31, 2019 through September 30, 2022; then increasing to $10.9 million quarterly from December 31, 2022 through September 30, 2023, with the remaining balance due November 8, 2023. The amended Term Loan A-2 requires quarterly principal repayments of $1.2 million which began on December 31, 2018 and continue through September 30, 2025, with the remaining balance due November 8, 2025. In addition to its required quarterly repayments, the Company paid an additional $15.0 million in the first quarter of 2019 and an additional $15.0 million in the third quarter of 2019, with no prepayment penalties.

The Company's cash payments for interest were $21.6 million and $25.1 million during the nine months ended September 30, 2019 and 2018, respectively.

As shown below, as of September 30, 2019, the Company was in compliance with the financial covenants in its credit agreement.

Income Taxes	9 Months Ended
Income Taxes	Sep. 30, 2019
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company files U.S. federal income tax returns and various state income tax returns. The Company is not subject to any state or federal income tax audits as of September 30, 2019. The Company's returns are generally open to examination from 2015 forward and the net operating losses acquired in the acquisition of nTelos are open to examination from 2002 forward. The Company’s effective tax rate for the three months ended September 30, 2019 was approximately 24.3%, as compared with approximately 23.8% for the three months ended September 30, 2018. The Company’s effective tax rate for the nine months ended September 30, 2019 was approximately 24.4%, which was consistent with approximately 24.3% for the nine months ended September 30, 2018. The Company's cash payments for income taxes were $6.1 million in the nine months ended September 30, 2019. The Company received cash refunds for income taxes of $2.7 million in the nine months ended September 30, 2018.

Segment Reporting

9 Months Ended

Sep. 30, 2019

Segment Reporting [Abstract]

Segment Reporting

The Company's reportable segments, which the Company operates and manages as strategic business units that are organized according to major product and service offerings, include: Wireless, Cable, Wireline and Other. A general description of the products and services offered and the customers served by each of these segments is as follows:

•

Wireless provides digital wireless service as a Sprint PCS Affiliate to a portion of 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. In these areas, the Company is the exclusive provider of Sprint-branded wireless mobility communications network products and services on the 800 MHz, 1900 MHz and 2.5 GHz spectrum bands.


•	Cable provides video, broadband and voice services in the cable franchise areas in portions of Virginia, West Virginia, western Maryland, and eastern Kentucky, and leases fiber optic facilities and provides fiber transport services throughout its service area. It does not include video, broadband and voice services provided to customers in Shenandoah County, Virginia.


•	Wireline provides video and broadband services in the cable franchise area and regulated and unregulated voice and broadband services in Shenandoah County, Virginia, and leases fiber optic facilities and provides fiber transport services throughout portions of Virginia, West Virginia, Maryland and Pennsylvania.


•	Other operations are represented by Shenandoah Telecommunications Company, the parent holding company that provides investing and management services to its subsidiaries.

Three Months Ended September 30, 2019



(in thousands)	Wireless		Cable		Wireline		Other			Eliminations			Consolidated
External revenue
Service revenue	$	91,108	$	30,829	$	5,446	$	—		$	—		$	127,383
Equipment revenue	15,975		292		53		—			—			16,320
Tower revenue	1,660		—		—		—			—			1,660
Other revenue	395		2,392		7,002		—			—			9,789
Total external revenue	109,138		33,513		12,501		—			—			155,152
Internal revenue	1,290		1,591		6,643		—			(9,524		)	—
Total operating revenue	110,428		35,104		19,144		—			(9,524		)	155,152
Operating expenses
Cost of services	34,044		15,790		9,104		—			(8,774		)	50,164
Cost of goods sold	15,571		156		98		—			—			15,825
Selling, general and administrative	9,882		6,636		1,938		9,472			(750		)	27,178
Depreciation and amortization	27,200		6,226		3,077		123			—			36,626
Total operating expenses	86,697		28,808		14,217		9,595			(9,524		)	129,793
Operating income (loss)	$	23,731	$	6,296	$	4,927	$	(9,595	)	$	—		$	25,359

Three Months Ended September 30, 2018



(in thousands)	Wireless		Cable		Wireline		Other			Eliminations			Consolidated
External revenue
Service revenue	$	96,299	$	28,578	$	5,443	$	—		$	—		$	130,320
Equipment revenue	15,666		234		63		—			—			15,963
Tower revenue	1,639		—		—		—			—			1,639
Other revenue	1,232		2,104		7,473		—			—			10,809
Total external revenue	114,836		30,916		12,979		—			—			158,731
Internal revenue	1,263		1,266		6,643		—			(9,172		)	—
Total operating revenue	116,099		32,182		19,622		—			(9,172		)	158,731
Operating expenses
Cost of services	32,253		14,837		9,266		(12		)	(8,458		)	47,886
Cost of goods sold	14,940		78		19		(1		)	—			15,036
Selling, general and administrative	11,191		5,331		1,780		9,864			(714		)	27,452
Depreciation and amortization	30,363		6,102		3,435		128			—			40,028
Total operating expenses	88,747		26,348		14,500		9,979			(9,172		)	130,402
Operating income (loss)	$	27,352	$	5,834	$	5,122	$	(9,979	)	$	—		$	28,329

Nine Months Ended September 30, 2019



(in thousands)	Wireless		Cable		Wireline		Other			Eliminations			Consolidated
External revenue
Service revenue	$	282,533	$	91,250	$	16,489	$	—		$	—		$	390,272
Equipment revenue	47,814		817		156		—			—			48,787
Tower revenue	4,985		—		—		—			—			4,985
Other revenue	1,060		6,895		20,910		—			—			28,865
Total external revenue	336,392		98,962		37,555		—			—			472,909
Internal revenue	3,830		4,541		20,025		—			(28,396		)	—
Total operating revenue	340,222		103,503		57,580		—			(28,396		)	472,909
Operating expenses
Cost of services	101,085		47,138		27,234		—			(26,278		)	149,179
Cost of goods sold	45,740		443		153		—			—			46,336
Selling, general and administrative	31,836		17,898		5,769		29,685			(2,118		)	83,070
Depreciation and amortization	90,469		19,239		10,057		393			—			120,158
Total operating expenses	269,130		84,718		43,213		30,078			(28,396		)	398,743
Operating income (loss)	$	71,092	$	18,785	$	14,367	$	(30,078	)	$	—		$	74,166

Nine Months Ended September 30, 2018



(in thousands)	Wireless		Cable		Wireline		Other			Eliminations			Consolidated
External revenue
Service revenue	$	284,154	$	85,797	$	16,052	$	—		$	—		$	386,003
Equipment revenue	48,859		537		155		—			—			49,551
Tower revenue	4,934		—		—		—			—			4,934
Other revenue	1,963		6,276		20,643		—			—			28,882
Total external revenue	339,910		92,610		36,850		—			—			469,370
Internal revenue	3,746		3,394		21,591		—			(28,731		)	—
Total operating revenue	343,656		96,004		58,441		—			(28,731		)	469,370
Operating expenses
Cost of services	99,491		45,118		28,441		—			(26,688		)	146,362
Cost of goods sold	45,749		197		61		—			—			46,007
Selling, general and administrative	35,693		14,940		5,183		32,344			(2,043		)	86,117
Depreciation and amortization	95,853		18,305		10,069		405			—			124,632
Total operating expenses	276,786		78,560		43,754		32,749			(28,731		)	403,118
Operating income (loss)	$	66,870	$	17,444	$	14,687	$	(32,749	)	$	—		$	66,252

Subsequent Events	9 Months Ended
Subsequent Events	Sep. 30, 2019
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events Dividend Declaration & Share Repurchase Program On October 29, 2019, the Company's Board of Directors approved a dividend of $0.29 per common share and authorized a stock repurchase program that will enable the Company to repurchase an aggregate of $80 million of its outstanding common stock. The dividend will be payable on December 2, 2019 to shareholders of record as of the close of business on November 14, 2019. The share repurchase program will be become effective November 4, 2019, and is expected to be executed over the next twelve months subject to market conditions.

Basis of Presentation (Policies)	9 Months Ended
Basis of Presentation (Policies)	Sep. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Adoption of New Accounting Principles Policy	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 2018 Annual Report on Form 10-K, that would be expected to impact the Company except for the following: The Company adopted ASU No. 2018-02, Income Statement - Reporting Comprehensive Income (Topic 220), as of January 1, 2019. The Company elected not to reclassify stranded income tax effects from accumulated other comprehensive income (OCI) to retained earnings and has implemented this election as its accounting policy as of January 1, 2019. The Company utilizes the portfolio approach as its policy to release the income tax effects from accumulated OCI as the entire portfolio is liquidated, sold, or extinguished. The Company adopted ASU No. 2016-02, Leases (“Topic 842” or “the new lease standard”) on January 1, 2019. Topic 842 replaces previous leasing guidance with a comprehensive lease measurement and recognition standard and expanded disclosure requirements. Topic 842 requires lessees to recognize most leases on their balance sheet as liabilities, with corresponding right-of-use, or ROU assets. The Company adopted the new lease standard utilizing the modified retrospective approach. As a result, comparable period information has not been retrospectively updated. The modified retrospective approach includes a package of optional practical expedients that we elected to apply. As a result, the Company did not reassess prior conclusions regarding lease identification, lease classification and initial direct costs under the new standard. In those circumstances where the Company is the lessee, we have elected to account for non-lease components associated with our leases (e.g., maintenance costs) and lease components as a single lease component for substantially all of our asset classes under Topic 842.

Leases (Tables)

9 Months Ended

Sep. 30, 2019

Leases [Abstract]

Schedule of New Accounting Pronouncements and Changes in Accounting Principles

The cumulative effect of the changes made to the consolidated January 1, 2019 balance sheet for the adoption of the new lease standard were as follows:



(in thousands)	December 31, 2018 As Previously Reported		Effect of the Adoption of ASC Topic 842 (Leases)			January 1, 2019 As Adjusted
Assets
Prepaid expenses and other	$	60,162	$	(11,580	)	$	48,582
Property, plant and equipment, net	701,359		1,789			703,148
Operating lease right-of-use assets	—		369,344			369,344
Intangible assets, net	366,029		(13,828		)	352,201
Liabilities
Current operating lease liabilities	—		38,773			38,773
Accrued liabilities and other	14,563		(412		)	14,151
Deferred Lease	22,436		(22,436		)	—
Noncurrent operating lease liabilities	—		328,156			328,156
Other liabilities	14,364		1,644			16,008

Lease Income and Costs and Lease Terms and Discount Rates

The following table summarizes other information related to operating and finance leases:



(in thousands)	Three Months Ended September 30, 2019		Nine Months Ended September 30, 2019

Operating cash flows used by leases	$	16,002	$	46,546
Leased assets obtained in exchange for new operating lease liabilities	43,647		69,407

The following table shows the components of lease income and costs:



(in thousands)	Three Months Ended September 30, 2019		Nine Months Ended September 30, 2019
Lease income from operating leases - fixed	$	2,149	$	6,219

Operating lease expense	18,151		51,811

Amortization of finance lease assets	158		399
Interest on finance lease liabilities	14		59
Subtotal finance lease cost	172		458

Total lease expense	$	18,323	$	52,269

The following table summarizes the lease terms and discount rates:



	September 30, 2019
Weighted-average remaining lease term (years)
Operating leases	8
Finance leases	16
Weighted-average discount rate
Operating leases	4.6	%
Finance leases	5.2	%

Expected Maturity of Lease Liabilities, Operating

The following table summarizes the expected maturity of lease liabilities at September 30, 2019:



(in thousands)	Operating Leases		Finance Leases		Total
2019	$	12,742	$	63	$	12,805
2020	64,474		174		64,648
2021	65,087		174		65,261
2022	63,341		174		63,515
2023	59,885		174		60,059
2024 and thereafter	242,115		1,704		243,819
Total lease payments	507,644		2,463		510,107
Less: Interest	103,481		748		104,229
Present value of lease liabilities	$	404,163	$	1,715	$	405,878

Expected Maturity of Lease Liabilities, Financing

The following table summarizes the expected maturity of lease liabilities at September 30, 2019:



(in thousands)	Operating Leases		Finance Leases		Total
2019	$	12,742	$	63	$	12,805
2020	64,474		174		64,648
2021	65,087		174		65,261
2022	63,341		174		63,515
2023	59,885		174		60,059
2024 and thereafter	242,115		1,704		243,819
Total lease payments	507,644		2,463		510,107
Less: Interest	103,481		748		104,229
Present value of lease liabilities	$	404,163	$	1,715	$	405,878

Minimum Rental Receipts Under Lease Agreement, Lessor, Operating Leases

The following table summarizes the total minimum rental receipts under lease agreements at September 30, 2019:



(in thousands)	Operating Leases
2019	$	1,774
2020	6,621
2021	4,526
2022	3,432
2023	1,801
2024 and thereafter	4,978
Total lease income	$	23,132

Revenue from Contracts with Customers (Tables)

9 Months Ended

Sep. 30, 2019

Revenue from Contract with Customer [Abstract]

Contract Asset Balances and Activity

Contract asset balances and activity for 2019 were as follows:



	Three Months Ended September 30,						Nine Months Ended September 30,
(in thousands)	2019			2018			2019			2018
Beginning balance	$	73,789		$	57,256		$	65,674		$	51,103
Contract payments	20,761			16,421			56,477			44,790
Contract amortization	(14,930		)	(11,861		)	(42,531		)	(34,077		)
Ending balance	$	79,620		$	61,816		$	79,620		$	61,816

Revenue, Remaining Performance Obligation

The following table summarizes the approximate amounts expected to be recognized as revenue after September 30, 2019.



	Amount Expected to be Recognized as Revenue:
(in thousands)
2019	$	219
2020	850
2021	770
2022 and thereafter	1,707
Total	$	3,546

Amortized and Capitalized Contract Costs

Amortized and capitalized costs for Cable and Wireline contracts were as follows:



	Three Months Ended September 30,						Nine Months Ended September 30,
(in thousands)	2019			2018			2019			2018
Beginning Balance	$	10,476		$	9,755		$	10,091		$	9,841
Contract payments	1,840			1,613			4,996			4,246
Contract amortization	(1,399		)	(1,339		)	(4,170		)	(4,058		)
Ending Balance	$	10,917		$	10,029		$	10,917		$	10,029

Earnings Per Share (EPS) (Tables)

9 Months Ended

Sep. 30, 2019

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:



	Three Months Ended September 30,				Nine Months Ended September 30,
(in thousands, except per share amounts)	2019		2018		2019		2018
Calculation of net income per share:
Net income	$	14,354	$	15,534	$	41,414	$	31,743
Basic weighted average shares outstanding	49,857		49,559		49,827		49,527
Basic net income per share	$	0.29	$	0.31	$	0.83	$	0.64

Effect of stock options outstanding:
Basic weighted average shares outstanding	49,857		49,559		49,827		49,527
Effect from dilutive shares and options outstanding	272		558		283		517
Diluted weighted average shares outstanding	50,129		50,117		50,110		50,044
Diluted net income per share	$	0.29	$	0.31	$	0.83	$	0.63

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

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



	Three Months Ended September 30,		Nine Months Ended September 30,
(in thousands)	2019	2018	2019	2018
Awards excluded from the computation of diluted net income per share because their inclusion would have been anti-dilutive	93	13	109	60

Investments (Tables)

9 Months Ended

Sep. 30, 2019

Investments [Abstract]

Schedule of other investments which do not have readily determinable fair values

Investments consist of the following:



(in thousands)	September 30, 2019		December 31, 2018
Domestic equity funds	$	1,681	$	1,409
International equity funds	421		370
Total investments carried at fair value	2,102		1,779

CoBank	8,368		7,705
Equity in other telecommunications partners	767		782
Total investments carried at cost	9,135		8,487

Other	614		522
Total equity method investments	614		522

Total investments	$	11,851	$	10,788

Property, Plant and Equipment (Tables)

9 Months Ended

Sep. 30, 2019

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

Property, plant and equipment consisted of the following:



(in thousands)	Estimated Useful Lives	September 30, 2019		December 31, 2018
Land		$	6,936	$	6,723
Buildings and structures	10 - 40 years	231,962		213,657
Cable and fiber	15 - 40 years	321,963		309,928
Equipment and software	3 - 20 years	839,624		791,401
Plant in service		1,400,485		1,321,709
Plant under construction		70,674		81,409
Total property, plant and equipment		1,471,159		1,403,118
Less: accumulated amortization and depreciation		782,643		701,759
Property, plant and equipment, net		$	688,516	$	701,359

Goodwill and Other Intangible Assets, Net (Tables)

9 Months Ended

Sep. 30, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Changes in Carrying Amount of Goodwill

Goodwill by segment consisted of the following:



(in thousands)	September 30, 2019		December 31, 2018
Wireless	$	146,383	$	146,383
Cable	2,677		104
Wireline	10		10
Total Goodwill	$	149,070	$	146,497

Schedule of Intangible Assets

Intangible assets consisted of the following:



	September 30, 2019							December 31, 2018
(in thousands)	Gross Carrying Amount		Accumulated Amortization and Other			Net		Gross Carrying Amount		Accumulated Amortization and Other			Net
Non-amortizing intangibles:
Cable franchise rights	$	64,334	$	—		$	64,334	$	64,334	$	—		$	64,334
FCC spectrum licenses	13,839		—			13,839		—		—			—
Railroad crossing rights	141		—			141		141		—			141
Total non-amortizing intangibles	78,314		—			78,314		64,475		—			64,475

Finite-lived intangibles:
Sprint affiliate contract expansion - Wireless	455,305		(212,194		)	243,111		455,305		(167,830		)	287,475
FCC spectrum licenses	4,659		(39		)	4,620		—		—			—
Favorable leases - Wireless	—		—			—		15,743		(1,919		)	13,824
Acquired subscribers - Cable	28,065		(25,499		)	2,566		25,265		(25,250		)	15
Other intangibles	463		(243		)	220		463		(223		)	240
Total finite-lived intangibles	488,492		(237,975		)	250,517		496,776		(195,222		)	301,554
Total intangible assets	$	566,806	$	(237,975	)	$	328,831	$	561,251	$	(195,222	)	$	366,029

Derivative and Hedging (Tables)

9 Months Ended

Sep. 30, 2019

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Financial Instrument as Well as its Classification on the Consolidated Balance Sheet



(in thousands)	September 30, 2019		December 31, 2018
Balance sheet location of derivative financial instruments:
Prepaid expenses and other	$	1,483	$	4,930
Deferred charges and other assets, net	536		8,323
Total derivatives designated as hedging instruments	$	2,019	$	13,253

Schedule of Accumulated Other Comprehensive Income (Loss)

The table below summarizes changes in accumulated other comprehensive income (loss) by component:



	Nine Months Ended September 30, 2019
(in thousands)	Accumulated Gains (Losses) on Cash Flow Hedges			Income Tax (Expense) Benefit			Accumulated Other Comprehensive Income (Loss), net of taxes
Balance as of December 31, 2018	$	13,253		$	(4,973	)	$	8,280
Unrealized gain (loss)	(7,741		)	1,929			(5,812		)
Amounts reclassified from accumulated other comprehensive income to interest expense	(3,493		)	871			(2,622		)
Net current period other comprehensive income (loss)	(11,234		)	2,800			(8,434		)
Balance as of September 30, 2019	$	2,019		$	(2,173	)	$	(154	)

Other Assets and Accrued Liabilities (Tables)

9 Months Ended

Sep. 30, 2019

Other Liabilities Disclosure [Abstract]

Schedule of Other Current Assets

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



(in thousands)	September 30, 2019		December 31, 2018
Prepaid rent	$	—	$	11,245
Prepaid maintenance expenses	3,788		3,981
Interest rate swaps	1,483		4,930
Wireless contract asset	41,878		33,323
Contract acquisition and fulfillment costs	4,861		4,634
Other	4,587		2,049
Prepaid expenses and other	$	56,597	$	60,162

Schedule of Other Assets, Noncurrent

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



(in thousands)	September 30, 2019		December 31, 2018
Interest rate swaps	$	536	$	8,323
Wireless contract asset	37,742		32,351
Contract acquisition and fulfillment costs	6,056		5,457
Other	6,135		3,760
Deferred charges and other assets	$	50,469	$	49,891

Summary of Accrued Liabilities and Other

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



(in thousands)	September 30, 2019		December 31, 2018
Sales and property taxes payable	$	4,409	$	4,281
Asset retirement obligations	407		582
Accrued programming costs	3,125		2,886
Financing leases	89		—
FCC spectrum licenses	87		—
Other current liabilities	6,614		6,814
Accrued liabilities and other	$	14,731	$	14,563

Summary of Other Liabilities

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



(in thousands)	September 30, 2019		December 31, 2018
Noncurrent portion of deferred lease revenue	$	12,613	$	12,593
FCC spectrum licenses	1,687		—
Noncurrent portion of financing leases	1,627		—
Other	749		1,771
Other liabilities	$	16,676	$	14,364

Long-Term Debt (Tables)

9 Months Ended

Sep. 30, 2019

Debt Disclosure [Abstract]

Schedule of long term debt

Total debt consisted of the following:



(in thousands)	September 30, 2019		December 31, 2018
Term loan A-1	$	265,855	$	287,699
Term loan A-2	474,715		497,537
	740,570		785,236
Less: unamortized loan fees	12,558		14,994
Total debt, net of unamortized loan fees	$	728,012	$	770,242

Current maturities of long-term debt, net of current unamortized loan fees	$	31,634	$	20,618
Long-term debt, less current maturities, net of unamortized loan fees	$	696,378	$	749,624

Financial covenants in credit agreements

As shown below, as of September 30, 2019, the Company was in compliance with the financial covenants in its credit agreement.

- 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://fasb.org/us-gaap/role/ref/legacyRef
-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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
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-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=114775744&loc=d3e28541-108399

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21506-112644

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
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-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=114775744&loc=d3e28551-108399

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
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-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21521-112644

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 10
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-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21538-112644

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-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 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21475-112644

+ Details

Segment Reporting (Tables)

9 Months Ended

Sep. 30, 2019

Segment Reporting [Abstract]

Selected Financial Data for Segments

Three Months Ended September 30, 2019



(in thousands)	Wireless		Cable		Wireline		Other			Eliminations			Consolidated
External revenue
Service revenue	$	91,108	$	30,829	$	5,446	$	—		$	—		$	127,383
Equipment revenue	15,975		292		53		—			—			16,320
Tower revenue	1,660		—		—		—			—			1,660
Other revenue	395		2,392		7,002		—			—			9,789
Total external revenue	109,138		33,513		12,501		—			—			155,152
Internal revenue	1,290		1,591		6,643		—			(9,524		)	—
Total operating revenue	110,428		35,104		19,144		—			(9,524		)	155,152
Operating expenses
Cost of services	34,044		15,790		9,104		—			(8,774		)	50,164
Cost of goods sold	15,571		156		98		—			—			15,825
Selling, general and administrative	9,882		6,636		1,938		9,472			(750		)	27,178
Depreciation and amortization	27,200		6,226		3,077		123			—			36,626
Total operating expenses	86,697		28,808		14,217		9,595			(9,524		)	129,793
Operating income (loss)	$	23,731	$	6,296	$	4,927	$	(9,595	)	$	—		$	25,359

Three Months Ended September 30, 2018



(in thousands)	Wireless		Cable		Wireline		Other			Eliminations			Consolidated
External revenue
Service revenue	$	96,299	$	28,578	$	5,443	$	—		$	—		$	130,320
Equipment revenue	15,666		234		63		—			—			15,963
Tower revenue	1,639		—		—		—			—			1,639
Other revenue	1,232		2,104		7,473		—			—			10,809
Total external revenue	114,836		30,916		12,979		—			—			158,731
Internal revenue	1,263		1,266		6,643		—			(9,172		)	—
Total operating revenue	116,099		32,182		19,622		—			(9,172		)	158,731
Operating expenses
Cost of services	32,253		14,837		9,266		(12		)	(8,458		)	47,886
Cost of goods sold	14,940		78		19		(1		)	—			15,036
Selling, general and administrative	11,191		5,331		1,780		9,864			(714		)	27,452
Depreciation and amortization	30,363		6,102		3,435		128			—			40,028
Total operating expenses	88,747		26,348		14,500		9,979			(9,172		)	130,402
Operating income (loss)	$	27,352	$	5,834	$	5,122	$	(9,979	)	$	—		$	28,329

Nine Months Ended September 30, 2019



(in thousands)	Wireless		Cable		Wireline		Other			Eliminations			Consolidated
External revenue
Service revenue	$	282,533	$	91,250	$	16,489	$	—		$	—		$	390,272
Equipment revenue	47,814		817		156		—			—			48,787
Tower revenue	4,985		—		—		—			—			4,985
Other revenue	1,060		6,895		20,910		—			—			28,865
Total external revenue	336,392		98,962		37,555		—			—			472,909
Internal revenue	3,830		4,541		20,025		—			(28,396		)	—
Total operating revenue	340,222		103,503		57,580		—			(28,396		)	472,909
Operating expenses
Cost of services	101,085		47,138		27,234		—			(26,278		)	149,179
Cost of goods sold	45,740		443		153		—			—			46,336
Selling, general and administrative	31,836		17,898		5,769		29,685			(2,118		)	83,070
Depreciation and amortization	90,469		19,239		10,057		393			—			120,158
Total operating expenses	269,130		84,718		43,213		30,078			(28,396		)	398,743
Operating income (loss)	$	71,092	$	18,785	$	14,367	$	(30,078	)	$	—		$	74,166

Nine Months Ended September 30, 2018



(in thousands)	Wireless		Cable		Wireline		Other			Eliminations			Consolidated
External revenue
Service revenue	$	284,154	$	85,797	$	16,052	$	—		$	—		$	386,003
Equipment revenue	48,859		537		155		—			—			49,551
Tower revenue	4,934		—		—		—			—			4,934
Other revenue	1,963		6,276		20,643		—			—			28,882
Total external revenue	339,910		92,610		36,850		—			—			469,370
Internal revenue	3,746		3,394		21,591		—			(28,731		)	—
Total operating revenue	343,656		96,004		58,441		—			(28,731		)	469,370
Operating expenses
Cost of services	99,491		45,118		28,441		—			(26,688		)	146,362
Cost of goods sold	45,749		197		61		—			—			46,007
Selling, general and administrative	35,693		14,940		5,183		32,344			(2,043		)	86,117
Depreciation and amortization	95,853		18,305		10,069		405			—			124,632
Total operating expenses	276,786		78,560		43,754		32,749			(28,731		)	403,118
Operating income (loss)	$	66,870	$	17,444	$	14,687	$	(32,749	)	$	—		$	66,252

Leases - Cumulative Effect of Adoption (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Jan. 01, 2019	Dec. 31, 2018
Assets
Prepaid expenses and other	$ 56,597	$ 48,582	$ 60,162
Property, plant and equipment, net	688,516	703,148	701,359
Operating lease right-of-use assets	400,489	369,344	0
Intangible assets, net	328,831	352,201	366,029
Liabilities
Current operating lease liabilities	44,178	38,773	0
Accrued liabilities and other	14,731	14,151	14,563
Deferred Lease	0	0	22,436
Noncurrent operating lease liabilities	359,985	328,156	0
Other liabilities	$ 16,676	16,008	$ 14,364
Effect of the Adoption of ASC Topic 842 (Leases)
Assets
Prepaid expenses and other		(11,580)
Property, plant and equipment, net		1,789
Operating lease right-of-use assets		369,344
Intangible assets, net		(13,828)
Liabilities
Current operating lease liabilities		38,773
Accrued liabilities and other		(412)
Deferred Lease		(22,436)
Noncurrent operating lease liabilities		328,156
Other liabilities		$ 1,644

Leases - Lease Income and Cost (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2019
Leases [Abstract]
Lease income from operating leases - fixed	$ 2,149	$ 6,219
Operating lease expense	18,151	51,811
Amortization of lease assets	158	399
Interest on finance lease liabilities	14	59
Subtotal finance lease cost	172	458
Total lease expense	$ 18,323	$ 52,269

Leases - Other Information (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2019
Leases [Abstract]
Operating cash flows used by leases	$ 16,002	$ 46,546
Leased assets obtained in exchange for new operating lease liabilities	$ 43,647	$ 69,407

Leases - Lease Term and Discount Rate (Details)	Sep. 30, 2019
Weighted-average remaining lease term (years)
Operating leases	8 years
Finance leases	16 years
Weighted-average discount rate
Operating leases	4.60%
Finance leases	5.20%

Leases - Maturity of Lease Liability - Lessee (Details) $ in Thousands	Sep. 30, 2019 USD ($)
Operating Leases
2019	$ 12,742
2020	64,474
2021	65,087
2022	63,341
2023	59,885
2024 and thereafter	242,115
Total lease payments	507,644
Less: Interest	103,481
Present value of lease liabilities	404,163
Finance Leases
2019	63
2020	174
2021	174
2022	174
2023	174
2024 and thereafter	1,704
Total lease payments	2,463
Less: Interest	748
Present value of lease liabilities	1,715
Total
2019	12,805
2020	64,648
2021	65,261
2022	63,515
2023	60,059
2024 and thereafter	243,819
Total lease payments	510,107
Less: Interest	104,229
Total lease liabilities	$ 405,878

Leases - Maturity of Lease Liability - Lessor (Details) $ in Thousands	Sep. 30, 2019 USD ($)
Leases [Abstract]
2019	$ 1,774
2020	6,621
2021	4,526
2022	3,432
2023	1,801
2024 and thereafter	4,978
Total lease income	$ 23,132

Leases - Narrative (Details) $ in Millions	Dec. 31, 2018 USD ($)
Leases [Abstract]
Commitments under leases under ASU 840, 2019	$ 55.1
Commitments under leases under ASU 840, 2020	104.4
Commitments under leases under ASU 840, 2021	104.4
Commitments under leases under ASU 840, 2022	97.6
Commitments under leases under ASU 840, 2023	97.6
Commitments under leases under ASU 840, thereafter	$ 168.5

Revenue from Contracts with Customers - Narrative (Details) - USD ($) $ in Millions	4 Months Ended	9 Months Ended
	Apr. 30, 2019	Sep. 30, 2019
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Management fee, percentage		8.00%
Service fee retained by Sprint		8.60%
Management fee on prepaid wireless revenues and costs		6.00%
Revenue	$ 1.5
Capitalized contract costs, average customer life (in months)		44 months
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
Minimum
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Reimbursement payment, cost of equipment and commissions, benefit period for recognition		21 months
Maximum
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Reimbursement payment, cost of equipment and commissions, benefit period for recognition		53 months

Revenue from Contracts with Customers - Contract Asset Activity (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Contract Asset Balance [Roll Forward]
Beginning balance	$ 73,789	$ 57,256	$ 65,674	$ 51,103
Contract payments	20,761	16,421	56,477	44,790
Contract amortization	(14,930)	(11,861)	(42,531)	(34,077)
Ending balance	$ 79,620	$ 61,816	$ 79,620	$ 61,816

Revenue from Contracts with Customers - Remaining Performance Obligations (Details) $ in Thousands	Sep. 30, 2019 USD ($)
Revenue from Contract with Customer [Abstract]
Remaining performance obligations	$ 3,546
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-10-01
Revenue from Contract with Customer [Abstract]
Remaining performance obligations	$ 219
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligations, period	3 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-01-01
Revenue from Contract with Customer [Abstract]
Remaining performance obligations	$ 850
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligations, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01
Revenue from Contract with Customer [Abstract]
Remaining performance obligations	$ 770
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligations, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01
Revenue from Contract with Customer [Abstract]
Remaining performance obligations	$ 1,707
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligations, period	1 year

Revenue from Contracts with Customers - Contract Acquisition Costs and Cost to Fulfill Contracts (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Capitalized Contract Cost [Roll Forward]
Beginning Balance	$ 10,476	$ 9,755	$ 10,091	$ 9,841
Contract payments	1,840	1,613	4,996	4,246
Contract amortization	(1,399)	(1,339)	(4,170)	(4,058)
Ending Balance	$ 10,917	$ 10,029	$ 10,917	$ 10,029

Acquisition (Details) - USD ($) $ in Thousands	Feb. 28, 2019	Sep. 30, 2019	Dec. 31, 2018
Business Acquisition [Line Items]
Goodwill acquired		$ 149,070	$ 146,497
Big Sandy Acquisition
Business Acquisition [Line Items]
Cash purchase price	$ 10,000
Property, plant and equipment acquired	4,600
Goodwill acquired	2,600
Subscriber Relationships \| Big Sandy Acquisition
Business Acquisition [Line Items]
Subscriber relationships acquired	$ 2,800
Estimated useful life, acquired intangible asset	7 years
Minimum \| Big Sandy Acquisition
Business Acquisition [Line Items]
Estimated useful life, acquired property, plant and equipment	2 years 6 months
Maximum \| Big Sandy Acquisition
Business Acquisition [Line Items]
Estimated useful life, acquired property, plant and equipment	12 years 6 months

Customer Concentration (Details)	12 Months Ended
Customer Concentration (Details)	Dec. 31, 1999 renewal megahertz
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Megahertz spectrum used	1,900
Initial term of contract	2029 years
Number of contract renewals \| renewal	2
Length of renewals	10 years
Right or obligation to sell business, percentage of EBV	90.00%
Minimum
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Megahertz spectrum used	800
Maximum
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Megahertz spectrum used	2,500

Earnings Per Share (EPS) - Schedule of Diluted Earnings Per Shares Calculation (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Calculation of net income per share:
Net income	$ 14,354	$ 15,534	$ 41,414	$ 31,743
Basic weighted average shares outstanding (in shares)	49,857	49,559	49,827	49,527
Basic income per share (in dollars per share)	$ 0.29	$ 0.31	$ 0.83	$ 0.64
Effect of stock options outstanding:
Basic weighted average shares outstanding (in shares)	49,857	49,559	49,827	49,527
Effect from dilutive shares and options outstanding (in shares)	272	558	283	517
Diluted weighted average shares (in shares)	50,129	50,117	50,110	50,044
Diluted income per share (in dollars per share)	$ 0.29	$ 0.31	$ 0.83	$ 0.63

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References

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+ Details

- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

+ References

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+ Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

Earnings Per Share (EPS) - Schedule of Antidilutive Shares (Details) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
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)	93	13	109	60

Investments - Other Investments (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Investment [Line Items]
Total investments carried at fair value	$ 2,102	$ 1,779
Total investments carried at cost	9,135	8,487
Total equity method investments	614	522
Total investments	11,851	10,788
CoBank
Investment [Line Items]
Total investments carried at cost	8,368	7,705
Other
Investment [Line Items]
Total investments carried at cost	767	782
Total equity method investments	614	522
Domestic equity funds
Investment [Line Items]
Total investments carried at fair value	1,681	1,409
International equity funds
Investment [Line Items]
Total investments carried at fair value	$ 421	$ 370

Property, Plant and Equipment (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2019	Jan. 01, 2019	Dec. 31, 2018
Property, plant and equipment [Abstract]
Total property, plant and equipment	$ 1,471,159	$ 1,471,159		$ 1,403,118
Less accumulated amortization and depreciation	782,643	782,643		701,759
Property, plant and equipment, net	688,516	688,516	$ 703,148	701,359
Depreciation expense	800	800
Land
Property, plant and equipment [Abstract]
Total property, plant and equipment	6,936	6,936		6,723
Buildings and structures
Property, plant and equipment [Abstract]
Total property, plant and equipment	231,962	231,962		213,657
Cable and fiber
Property, plant and equipment [Abstract]
Total property, plant and equipment	321,963	321,963		309,928
Equipment and software
Property, plant and equipment [Abstract]
Total property, plant and equipment	839,624	839,624		791,401
Plant in service
Property, plant and equipment [Abstract]
Total property, plant and equipment	1,400,485	1,400,485		1,321,709
Plant under construction
Property, plant and equipment [Abstract]
Total property, plant and equipment	$ 70,674	$ 70,674		$ 81,409
Minimum \| Buildings and structures
Property, Plant and Equipment [Line Items]
Useful life (in years)		10 years
Minimum \| Cable and fiber
Property, Plant and Equipment [Line Items]
Useful life (in years)		15 years
Minimum \| Equipment and software
Property, Plant and Equipment [Line Items]
Useful life (in years)		3 years
Maximum \| Buildings and structures
Property, Plant and Equipment [Line Items]
Useful life (in years)		40 years
Maximum \| Cable and fiber
Property, Plant and Equipment [Line Items]
Useful life (in years)		40 years
Maximum \| Equipment and software
Property, Plant and Equipment [Line Items]
Useful life (in years)		20 years

Goodwill and Other Intangible Assets - Changes in Carrying Amount of Goodwill (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Goodwill [Line Items]
Goodwill	$ 149,070	$ 146,497
Wireless
Goodwill [Line Items]
Goodwill	146,383	146,383
Cable
Goodwill [Line Items]
Goodwill	2,677	104
Wireline
Goodwill [Line Items]
Goodwill	$ 10	$ 10

Goodwill and Other Intangible Assets - Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended	41 Months Ended
	Sep. 30, 2019	Sep. 30, 2019	Sep. 30, 2019	Jan. 01, 2019	Dec. 31, 2018
Finite-Lived Intangible Assets [Line Items]
Total non-amortizing intangibles	$ 78,314	$ 78,314	$ 78,314		$ 64,475
Gross Carrying Amount	488,492	488,492	488,492		496,776
Accumulated Amortization and Other	(237,975)	(237,975)	(237,975)		(195,222)
Net	250,517	250,517	250,517		301,554
Total intangible assets, gross	566,806	566,806	566,806		561,251
Total intangible assets, net	328,831	328,831	328,831	$ 352,201	366,029
Waived management fees under affiliate agreement	$ 9,700	29,000	127,400
Waived management fees under affiliate agreement, expected to be collected		128,200
Waived management fees under affiliate agreement amount expected to collect monthly		4,200
Remaining lease term (in years)	20 years
Sprint affiliate contract expansion - Wireless
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 455,305	455,305	455,305		455,305
Accumulated Amortization and Other	(212,194)	(212,194)	(212,194)		(167,830)
Net	243,111	243,111	243,111		287,475
FCC spectrum licenses
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	4,659	4,659	4,659		0
Accumulated Amortization and Other	(39)	(39)	(39)		0
Net	4,620	4,620	4,620		0
Finite-lived intangible assets acquired	4,700
Favorable leases - Wireless
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	0	0	0		15,743
Accumulated Amortization and Other	0	0	0		(1,919)
Net	0	0	0		13,824
Acquired subscribers - Cable
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	28,065	28,065	28,065		25,265
Accumulated Amortization and Other	(25,499)	(25,499)	(25,499)		(25,250)
Net	2,566	2,566	2,566		15
Other intangibles
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	463	463	463		463
Accumulated Amortization and Other	(243)	(243)	(243)		(223)
Net	220	220	220		240
Cable franchise rights
Finite-Lived Intangible Assets [Line Items]
Total non-amortizing intangibles	64,334	64,334	64,334		64,334
FCC spectrum licenses
Finite-Lived Intangible Assets [Line Items]
Total non-amortizing intangibles	13,839	13,839	13,839		0
Indefinite-lived intangible assets acquired	13,800
Railroad crossing rights
Finite-Lived Intangible Assets [Line Items]
Total non-amortizing intangibles	$ 141	$ 141	$ 141		$ 141

Derivatives and Hedging - Schedule of Derivative Financial Instrument as Well as its Classification on the Consolidated Balance Sheet (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Derivative Assets (Liabilities), at Fair Value, Net, by Balance Sheet Classification [Abstract]
Derivative assets	$ 536	$ 8,323
Interest rate swap \| Derivatives designated as hedging instruments
Derivative Assets (Liabilities), at Fair Value, Net, by Balance Sheet Classification [Abstract]
Total derivatives designated as hedging instruments	2,019	13,253
Interest rate swap \| Derivatives designated as hedging instruments \| Prepaid expenses and other
Derivative Assets (Liabilities), at Fair Value, Net, by Balance Sheet Classification [Abstract]
Derivative assets	1,483	4,930
Interest rate swap \| Derivatives designated as hedging instruments \| Deferred charges and other assets, net
Derivative Assets (Liabilities), at Fair Value, Net, by Balance Sheet Classification [Abstract]
Derivative assets	$ 536	$ 8,323

Derivatives and Hedging - Schedule of Accumulated Other Comprehensive Income (Loss) (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2019 USD ($)
Accumulated Gains (Losses) on Cash Flow Hedges
Balance as of December 31, 2018	$ 13,253
Balance as of September 30, 2019	2,019
Income Tax (Expense) Benefit
Balance as of December 31, 2018	(4,973)
Balance as of September 30, 2019	(2,173)
Accumulated Other Comprehensive Income (Loss), net of taxes
Balance as of December 31, 2018	8,280
Balance as of September 30, 2019	(154)
Gains (Losses) on Cash Flow Hedges
Accumulated Gains (Losses) on Cash Flow Hedges
Net change in unrealized gain (loss)	(7,741)
Amounts reclassified from accumulated other comprehensive income to interest expense	(3,493)
Net current period accumulated other comprehensive income (loss)	(11,234)
Income Tax (Expense) Benefit
Net change in unrealized gain (loss)	1,929
Amounts reclassified from accumulated other comprehensive income to interest expense	871
Net current period accumulated other comprehensive income (loss)	2,800
Accumulated Other Comprehensive Income (Loss), net of taxes
Net change in unrealized gain (loss)	(5,812)
Amounts reclassified from accumulated other comprehensive income to interest expense	(2,622)
Net current period accumulated other comprehensive income (loss)	$ (8,434)

Derivatives and Hedging - Narrative (Details) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Not Designated as Hedging Instrument \| Cash Flow Hedge
Derivative [Line Items]
Notional amount of cash flow hedges	$ 292.6	$ 384.0

Other Assets and Accrued Liabilities - Current Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Jan. 01, 2019	Dec. 31, 2018
Other Liabilities Disclosure [Abstract]
Prepaid rent	$ 0		$ 11,245
Prepaid maintenance expenses	3,788		3,981
Interest rate swaps	1,483		4,930
Wireless contract asset	41,878		33,323
Contract acquisition and fulfillment costs	4,861		4,634
Other	4,587		2,049
Prepaid expenses and other	$ 56,597	$ 48,582	$ 60,162

Other Assets and Accrued Liabilities - Long-Term Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Other Liabilities Disclosure [Abstract]
Interest rate swaps	$ 536	$ 8,323
Wireless contract asset	37,742	32,351
Contract acquisition and fulfillment costs	6,056	5,457
Other	6,135	3,760
Deferred charges and other assets	$ 50,469	$ 49,891

Other Assets and Accrued Liabilities - Current Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Jan. 01, 2019	Dec. 31, 2018
Other Liabilities Disclosure [Abstract]
Sales and property taxes payable	$ 4,409		$ 4,281
Asset retirement obligations	407		582
Accrued programming costs	3,125		2,886
Financing leases	89		0
FCC spectrum licenses	87		0
Other current liabilities	6,614		6,814
Accrued liabilities and other	$ 14,731	$ 14,151	$ 14,563

Other Assets and Accrued Liabilities - Long-Term Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Jan. 01, 2019	Dec. 31, 2018
Other Liabilities Disclosure [Abstract]
Non-current portion of deferred revenues	$ 12,613		$ 12,593
FCC spectrum licenses	1,687		0
Noncurrent portion of financing leases	1,627
Other	749		1,771
Other liabilities	$ 16,676	$ 16,008	$ 14,364

Long-Term Debt - Schedule of Long-Term Debt (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Long-term debt	$ 740,570	$ 785,236
Less: unamortized loan fees	12,558	14,994
Total debt, net of unamortized loan fees	728,012	770,242
Current maturities of long-term debt, net of current unamortized loan fees	31,634	20,618
Long-term debt, less current maturities, net of unamortized loan fees	696,378	749,624
Term loan A-1
Debt Instrument [Line Items]
Long-term debt	265,855	287,699
Term loan A-2
Debt Instrument [Line Items]
Long-term debt	$ 474,715	$ 497,537

Long-Term Debt - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Mar. 31, 2019	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Debt Instrument [Line Items]
Total debt, net of unamortized loan fees	$ 728,012		$ 728,012		$ 770,242
Unamortized loan fees	$ 12,558		$ 12,558		$ 14,994
Effective rate	3.63%		3.63%
Leverage ratio threshold			2.25
Variable interest rate			0.25%
Cash paid for interest, net of amounts capitalized			$ 21,600	$ 25,100
Term loan A-1
Debt Instrument [Line Items]
Periodic payment of principal			3,600
Periodic payment principal, period two			7,300
Periodic payment principal, period three			$ 10,900
Term loan A-1 \| London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Variable interest rate			1.50%
Term loan A-2
Debt Instrument [Line Items]
Periodic payment of principal			$ 1,200
Additional payment to required quarterly payments	$ 15,000	$ 15,000
Term loan A-2 \| London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Variable interest rate			1.75%

Long-Term Debt - Schedule of Financial Covenants (Details)	9 Months Ended
	Sep. 30, 2019 USD ($)
Debt Disclosure [Abstract]
Leverage ratio, actual	2.38
Covenant requirement, total leverage ratio	3.50
Debt service coverage ratio, actual	6.21
Minimum debt service coverage ratio	2.00
Covenant, liquidity balance, actual	$ 172,200,000
Debt instrument covenants minimum liquidity amount	$ 25,000,000.0

Income Taxes - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Income Taxes - Narrative (Details) - USD ($) $ in Millions	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Income Tax Disclosure [Abstract]
Effective tax rate	24.30%	23.80%	24.40%	24.30%
Cash income taxes paid			$ 6.1
Cash income tax refunds				$ 2.7

Segment Reporting - Selected Financial Data for Segments (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
External revenue
Operating revenues	$ 155,152	$ 158,731	$ 472,909	$ 469,370
Operating expenses:
Selling, general and administrative	27,178	27,452	83,070	86,117
Depreciation and amortization	36,626	40,028	120,158	124,632
Total operating expenses	129,793	130,402	398,743	403,118
Operating income	25,359	28,329	74,166	66,252
Wireless
External revenue
Operating revenues	109,138	114,836	336,392	339,910
Cable
External revenue
Operating revenues	33,513	30,916	98,962	92,610
Wireline
External revenue
Operating revenues	12,501	12,979	37,555	36,850
Other
External revenue
Operating revenues	0	0	0	0
Eliminations
External revenue
Operating revenues	0	0	0	0
Intersegment Eliminations \| Wireless
External revenue
Operating revenues	(1,290)	(1,263)	(3,830)	(3,746)
Intersegment Eliminations \| Cable
External revenue
Operating revenues	(1,591)	(1,266)	(4,541)	(3,394)
Intersegment Eliminations \| Wireline
External revenue
Operating revenues	(6,643)	(6,643)	(20,025)	(21,591)
Intersegment Eliminations \| Other
External revenue
Operating revenues	0	0	0	0
Intersegment Eliminations \| Eliminations
External revenue
Operating revenues	(9,524)	(9,172)	(28,396)	(28,731)
Operating expenses:
Selling, general and administrative	(750)	(714)	(2,118)	(2,043)
Depreciation and amortization	0	0	0	0
Total operating expenses	(9,524)	(9,172)	(28,396)	(28,731)
Operating income	0	0	0	0
Operating Segments \| Wireless
External revenue
Operating revenues	110,428	116,099	340,222	343,656
Operating expenses:
Selling, general and administrative	9,882	11,191	31,836	35,693
Depreciation and amortization	27,200	30,363	90,469	95,853
Total operating expenses	86,697	88,747	269,130	276,786
Operating income	23,731	27,352	71,092	66,870
Operating Segments \| Cable
External revenue
Operating revenues	35,104	32,182	103,503	96,004
Operating expenses:
Selling, general and administrative	6,636	5,331	17,898	14,940
Depreciation and amortization	6,226	6,102	19,239	18,305
Total operating expenses	28,808	26,348	84,718	78,560
Operating income	6,296	5,834	18,785	17,444
Operating Segments \| Wireline
External revenue
Operating revenues	19,144	19,622	57,580	58,441
Operating expenses:
Selling, general and administrative	1,938	1,780	5,769	5,183
Depreciation and amortization	3,077	3,435	10,057	10,069
Total operating expenses	14,217	14,500	43,213	43,754
Operating income	4,927	5,122	14,367	14,687
Operating Segments \| Other
External revenue
Operating revenues	0	0	0	0
Operating expenses:
Selling, general and administrative	9,472	9,864	29,685	32,344
Depreciation and amortization	123	128	393	405
Total operating expenses	9,595	9,979	30,078	32,749
Operating income	(9,595)	(9,979)	(30,078)	(32,749)
Service revenue
External revenue
Operating revenues	127,383	130,320	390,272	386,003
Service revenue \| Wireless
External revenue
Operating revenues	91,108	96,299	282,533	284,154
Service revenue \| Cable
External revenue
Operating revenues	30,829	28,578	91,250	85,797
Service revenue \| Wireline
External revenue
Operating revenues	5,446	5,443	16,489	16,052
Service revenue \| Other
External revenue
Operating revenues	0	0	0	0
Service revenue \| Eliminations
External revenue
Operating revenues	0	0		0
Equipment revenue
External revenue
Operating revenues	16,320	15,963	48,787	49,551
Equipment revenue \| Wireless
External revenue
Operating revenues	15,975	15,666	47,814	48,859
Equipment revenue \| Cable
External revenue
Operating revenues	292	234	817	537
Equipment revenue \| Wireline
External revenue
Operating revenues	53	63	156	155
Equipment revenue \| Other
External revenue
Operating revenues	0	0	0	0
Equipment revenue \| Eliminations
External revenue
Operating revenues	0	0		0
Tower revenue
External revenue
Operating revenues	1,660	1,639	4,985	4,934
Tower revenue \| Wireless
External revenue
Operating revenues	1,660	1,639	4,985	4,934
Tower revenue \| Cable
External revenue
Operating revenues	0	0	0	0
Tower revenue \| Wireline
External revenue
Operating revenues	0	0	0	0
Tower revenue \| Other
External revenue
Operating revenues	0	0	0	0
Tower revenue \| Eliminations
External revenue
Operating revenues	0	0		0
Other revenue
External revenue
Operating revenues	9,789	10,809	28,865	28,882
Other revenue \| Wireless
External revenue
Operating revenues	395	1,232	1,060	1,963
Other revenue \| Cable
External revenue
Operating revenues	2,392	2,104	6,895	6,276
Other revenue \| Wireline
External revenue
Operating revenues	7,002	7,473	20,910	20,643
Other revenue \| Other
External revenue
Operating revenues	0	0	0	0
Other revenue \| Eliminations
External revenue
Operating revenues	0	0		0
Cost of services
Operating expenses:
Cost of services	50,164	47,886	149,179	146,362
Cost of services \| Intersegment Eliminations \| Eliminations
Operating expenses:
Cost of services	(8,774)	(8,458)	(26,278)	(26,688)
Cost of services \| Operating Segments \| Wireless
Operating expenses:
Cost of services	34,044	32,253	101,085	99,491
Cost of services \| Operating Segments \| Cable
Operating expenses:
Cost of services	15,790	14,837	47,138	45,118
Cost of services \| Operating Segments \| Wireline
Operating expenses:
Cost of services	9,104	9,266	27,234	28,441
Cost of services \| Operating Segments \| Other
Operating expenses:
Cost of services	0	(12)	0	0
Cost of goods sold
Operating expenses:
Cost of services	15,825	15,036	46,336	46,007
Cost of goods sold \| Intersegment Eliminations \| Eliminations
Operating expenses:
Cost of services	0	0	0	0
Cost of goods sold \| Operating Segments \| Wireless
Operating expenses:
Cost of services	15,571	14,940	45,740	45,749
Cost of goods sold \| Operating Segments \| Cable
Operating expenses:
Cost of services	156	78	443	197
Cost of goods sold \| Operating Segments \| Wireline
Operating expenses:
Cost of services	98	19	153	61
Cost of goods sold \| Operating Segments \| Other
Operating expenses:
Cost of services	$ 0	$ (1)	$ 0	$ 0

Subsequent Events - Narrative (Details) - Subsequent Event	Oct. 29, 2019 USD ($) $ / shares
Subsequent Event [Line Items]
Common stock dividend approved (in usd per share) \| $ / shares	$ 0.29
Stock Repurchase Program
Subsequent Event [Line Items]
Amount of common stock repurchased \| $	$ 80,000,000

Label	Element	Value
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ 56,097,000
Retained Earnings [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ 56,097,000