Document_and_Entity_Informatio
Document and Entity Information | 9 Months Ended | |
Sep. 30, 2013 | Oct. 23, 2013 | |
Document And Entity Information [Abstract] | ' | ' |
Document Type | '10-Q/A | ' |
Amendment Flag | 'true | ' |
Amendment Description | 'This amendment to the Company’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2013 is being filed solely to reflect a change in the accounting for excess preferred distributions received as part of the AWN transaction. See Note 2 - Restatement of Consolidated Financial Statements for a detailed description of the transaction. On November 8, 2013, Alaska Communications Systems Group, Inc. (the “Companyâ€) filed its Quarterly Report on Form 10-Q for the quarter ended September 30, 2013 (the “Form 10-Qâ€). That report disclosed (i) the Company’s gain (the “Gain on Sale/Contributionâ€) arising from the formation of The Alaska Wireless Network, LLC (“AWNâ€), a joint venture in which the Company holds a one-third equity interest, and (ii) certain amounts the Company classified as contingent consideration arising from the cumulative preferred distributions payable to the Company by AWN. The Company accounted for the amount by which the preferred distributions exceeded the distributions the Company would be entitled to as a one-third equity owner of AWN (the “AWN Excess Distributionsâ€) as contingent consideration issued in connection with a business combination. The Company treated the contingent consideration as a gain contingency too be recognized when realized or realizable. The Company disclosed in the Form 10-Q that the above accounting treatment differed from AWN’s and indicated that the Company was working to resolve the difference. As a result of that work, on February 14, 2014, the Company’s management (after consultation with the Company’s independent registered public accounting firm) concluded that: (1) The Gain on Sale/Contribution and their carrying value of the equity investment should be increased to reflect the value, as of the formation of AWN, of the AWN Excess Distributions; and (2)The amounts presented as AWN Excess Distributions for the three and nine months ended September 30, 2013, should be eliminated and instead be considered in the total Gain on Sale/Contribution and as an increase to ACS’ investment in AWN. In addition to that change we have broken out our affiliate balances on the face of our financial statements and updated our initial estimate of the fair value of assets and liabilities on the Company’s balance sheet based upon the latest draft of the valuation schedules obtained by the national valuation firm engaged by both ACS and GCI. Except for the aforementioned changes, this Form 10-Q/A does not modify or update other disclosures in the Form 10-Q, including the nature and character of such disclosure to reflect events occurring after the filing date of the Form 10-Q. | ' |
Document Period End Date | 30-Sep-13 | ' |
Document Fiscal Year Focus | '2013 | ' |
Document Fiscal Period Focus | 'Q3 | ' |
Trading Symbol | 'ALSK | ' |
Entity Registrant Name | 'ALASKA COMMUNICATIONS SYSTEMS GROUP INC | ' |
Entity Central Index Key | '0001089511 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Filer Category | 'Accelerated Filer | ' |
Entity Common Stock, Shares Outstanding | ' | 48,577,654 |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Current assets: | ' | ' |
Cash and cash equivalents | ' | $16,839 |
Restricted cash | ' | 3,875 |
Short-term investments | ' | 2,050 |
Accounts receivable, non-affiliates - net of allowance of $5,744 and $6,231 | ' | 39,704 |
Accounts receivable, affiliates | ' | 9 |
Materials and supplies | ' | 9,409 |
Prepayments and other current assets | ' | 5,566 |
Deferred income taxes | ' | 8,301 |
Total current assets | ' | 85,753 |
Property, plant and equipment | ' | 1,463,320 |
Less: accumulated depreciation and amortization | ' | -1,052,459 |
Property, plant and equipment, net | ' | 410,861 |
Goodwill | ' | 8,850 |
Intangible assets, net | ' | 24,118 |
Debt issuance costs | ' | 10,558 |
Deferred income taxes | ' | 69,049 |
Equity method investments | ' | 2,028 |
Other assets | ' | 3,510 |
Total assets | ' | 614,727 |
Current liabilities: | ' | ' |
Current portion of long-term obligations | 12,865 | 21,628 |
Accounts payable, accrued and other current liabilities, non-affiliate | ' | 56,371 |
Accounts payable, accrued and other current liabilities, affiliate | ' | 7 |
Advance billings and customer deposits | ' | 8,970 |
Total current liabilities | ' | 86,976 |
Long-term obligations, net of current portion | 444,782 | 533,772 |
Other long-term liabilities | ' | 28,662 |
Total liabilities | ' | 649,410 |
Commitments and contingencies | ' | ' |
Stockholders' equity (deficit): | ' | ' |
Common stock, $.01 par value; 145,000 authorized; 48,569 issued and outstanding at September 30, 2013; 45,765 issued and outstanding at December 31, 2012 | ' | 458 |
Additional paid in capital | ' | 144,377 |
Accumulated deficit | ' | -170,279 |
Accumulated other comprehensive loss | -6,942 | -9,239 |
Total stockholders' equity (deficit) | ' | -34,683 |
Total liabilities and stockholders' equity (deficit) | ' | 614,727 |
Restated [Member] | ' | ' |
Current assets: | ' | ' |
Cash and cash equivalents | 53,295 | 16,839 |
Restricted cash | 482 | ' |
Accounts receivable, non-affiliates - net of allowance of $5,744 and $6,231 | 31,373 | ' |
Accounts receivable, affiliates | 17 | ' |
Materials and supplies | 12,112 | ' |
Prepayments and other current assets | 7,672 | ' |
Deferred income taxes | 1,478 | ' |
Total current assets | 106,429 | ' |
Property, plant and equipment | 1,345,048 | ' |
Less: accumulated depreciation and amortization | -1,005,035 | ' |
Property, plant and equipment, net | 340,013 | ' |
Goodwill | 4,650 | ' |
Debt issuance costs | 7,502 | ' |
Deferred income taxes | 18,619 | ' |
Equity method investments | 270,699 | ' |
Other assets | 400 | ' |
Total assets | 748,312 | ' |
Current liabilities: | ' | ' |
Current portion of long-term obligations | 12,865 | ' |
Accounts payable, accrued and other current liabilities, non-affiliate | 53,247 | ' |
Accounts payable, accrued and other current liabilities, affiliate | 7,342 | ' |
Advance billings and customer deposits | 8,837 | ' |
Total current liabilities | 82,291 | ' |
Long-term obligations, net of current portion | 444,782 | ' |
Other long-term liabilities | 21,085 | ' |
Deferred AWN capacity revenue | 64,036 | ' |
Total liabilities | 612,194 | ' |
Commitments and contingencies | ' | ' |
Stockholders' equity (deficit): | ' | ' |
Common stock, $.01 par value; 145,000 authorized; 48,569 issued and outstanding at September 30, 2013; 45,765 issued and outstanding at December 31, 2012 | 486 | ' |
Additional paid in capital | 151,784 | ' |
Accumulated deficit | -9,210 | ' |
Accumulated other comprehensive loss | -6,942 | ' |
Total stockholders' equity (deficit) | 136,118 | ' |
Total liabilities and stockholders' equity (deficit) | $748,312 | ' |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Dec. 31, 2012 | Sep. 30, 2013 |
In Thousands, except Per Share data, unless otherwise specified | Restated [Member] | |
Allowance for doubtful accounts | $6,231 | $5,744 |
Common stock, par value | $0.01 | $0.01 |
Common stock, shares authorized | 145,000 | 145,000 |
Common stock, shares issued | 45,765 | 48,569 |
Common stock, shares outstanding | 45,765 | 48,569 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (USD $) | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended |
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 |
Restated [Member] | Restated [Member] | Non-affiliates [Member] | Non-affiliates [Member] | Affiliates [Member] | Affiliates [Member] | |||
Restated [Member] | Restated [Member] | Restated [Member] | Restated [Member] | |||||
Operating revenues | ' | ' | ' | ' | ' | ' | ' | ' |
Operating revenues, non-affiliates | $96,658 | $272,613 | $82,427 | $271,122 | ' | ' | ' | ' |
Operating revenues, affiliates | 92 | 96 | 1,414 | 1,535 | ' | ' | ' | ' |
Total Operating revenues | 96,750 | 272,709 | 83,841 | 272,657 | ' | ' | ' | ' |
Operating expenses: | ' | ' | ' | ' | ' | ' | ' | ' |
Cost of services and sales | ' | ' | ' | ' | 33,078 | 105,412 | 11,642 | 11,959 |
Selling, general and administrative | 25,437 | 80,374 | 29,274 | 83,717 | ' | ' | ' | ' |
Depreciation and amortization | 12,932 | 38,452 | 9,209 | 33,291 | ' | ' | ' | ' |
(Gain) loss on disposal of assets, net | -2,559 | -2,140 | -207,003 | -206,377 | ' | ' | ' | ' |
Earnings from equity method investments | -45 | -45 | -8,082 | -8,061 | ' | ' | ' | ' |
Total operating expenses (income) | 72,111 | 228,243 | -131,882 | 19,941 | ' | ' | ' | ' |
Operating income | 24,639 | 44,466 | 215,723 | 252,716 | ' | ' | ' | ' |
Other income and expense: | ' | ' | ' | ' | ' | ' | ' | ' |
Interest expense | -10,268 | -29,203 | -9,785 | -29,970 | ' | ' | ' | ' |
Loss on extinguishment of debt | ' | -323 | -2,094 | -2,370 | ' | ' | ' | ' |
Interest income | 9 | 31 | 19 | 37 | ' | ' | ' | ' |
Other | ' | ' | ' | -13 | ' | ' | ' | ' |
Total other income and expense | -10,259 | -29,495 | -11,860 | -32,316 | ' | ' | ' | ' |
Income before income tax expense | 14,380 | 14,971 | 203,863 | 220,400 | ' | ' | ' | ' |
Income tax expense | -6,136 | -6,385 | -83,956 | -59,331 | ' | ' | ' | ' |
Net income | 8,244 | 8,586 | 119,907 | 161,069 | ' | ' | ' | ' |
Other comprehensive income (loss): | ' | ' | ' | ' | ' | ' | ' | ' |
Minimum pension liability adjustment | 199 | 541 | 205 | 612 | ' | ' | ' | ' |
Income tax effect | -82 | -222 | -84 | -252 | ' | ' | ' | ' |
Interest rate swap marked to fair value | 314 | -2,209 | 1,348 | 3,290 | ' | ' | ' | ' |
Income tax effect | -129 | 907 | -554 | -1,353 | ' | ' | ' | ' |
Total other comprehensive income (loss) | 302 | -983 | 915 | 2,297 | ' | ' | ' | ' |
Total comprehensive income | $8,546 | $7,603 | $120,822 | $163,366 | ' | ' | ' | ' |
Net income per share: | ' | ' | ' | ' | ' | ' | ' | ' |
Basic | $0.18 | $0.19 | $2.54 | $3.46 | ' | ' | ' | ' |
Diluted | $0.17 | $0.19 | $2.05 | $2.81 | ' | ' | ' | ' |
Weighted average shares outstanding: | ' | ' | ' | ' | ' | ' | ' | ' |
Basic | 45,664 | 45,511 | 47,159 | 46,592 | ' | ' | ' | ' |
Diluted | 59,437 | 45,806 | 59,346 | 58,816 | ' | ' | ' | ' |
Cash dividends declared per common share | $0.05 | $0.15 | ' | ' | ' | ' | ' | ' |
Consolidated_Statements_of_Sto
Consolidated Statements of Stockholders' Equity (Deficit) (USD $) | Total | Common Stock [Member] | Additional Paid in Capital [Member] | Accumulated Deficit [Member] | Accumulated Other Comprehensive Income (Loss) [Member] |
In Thousands | |||||
Beginning Balance at Dec. 31, 2012 | ($34,683) | $458 | $144,377 | ($170,279) | ($9,239) |
Beginning Balance, Shares at Dec. 31, 2012 | ' | 45,765 | ' | ' | ' |
Total comprehensive income (Restated [Member]) | 163,366 | ' | ' | 161,069 | 2,297 |
Stock compensation | 2,268 | ' | 2,268 | ' | ' |
Tax benefit of convertible note | 302 | ' | 302 | ' | ' |
Surrender of shares to cover withholding taxes on stock-based compensation | -632 | ' | -632 | ' | ' |
Issuance of common stock, $.01 par | 5,497 | 28 | 5,469 | ' | ' |
Issuance of common stock, Shares | ' | 2,804 | ' | ' | ' |
Ending Balance (Restated [Member]) | $136,118 | $486 | $151,784 | ($9,210) | ($6,942) |
Ending Balance, Shares (Restated [Member]) | ' | 48,569 | ' | ' | ' |
Consolidated_Statements_of_Sto1
Consolidated Statements of Stockholders' Equity (Deficit) (Parenthetical) (USD $) | Sep. 30, 2013 | Sep. 30, 2013 |
Common Stock [Member] | Additional Paid in Capital [Member] | |
Common stock, par value | $0.01 | $0.01 |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2012 | Sep. 30, 2013 |
Restated [Member] | ||
Cash Flows from Operating Activities: | ' | ' |
Net income | $8,586 | $161,069 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' |
Depreciation and amortization | 38,452 | 33,291 |
Gain on sale/contribution of asset to AWN | ' | -207,318 |
Gain on ineffective hedge adjustment | ' | -785 |
Amortization of debt issuance costs and debt discount | 4,382 | 5,754 |
Amortization of ineffective hedge | ' | 1,948 |
Amortization of deferred AWN capacity revenue | ' | -738 |
Stock-based compensation | 2,662 | 2,268 |
Deferred income taxes | 6,385 | 58,733 |
Provision for uncollectible accounts | 1,836 | 805 |
Cash distribution from equity method investments | 32 | 5,389 |
Earnings on equity method investments | -45 | -8,061 |
Other non-cash expense, net | -2,042 | 1,157 |
Changes in operating assets and liabilities | -4,038 | 6,096 |
Net cash provided by operating activities | 56,210 | 59,608 |
Cash Flows from Investing Activities: | ' | ' |
Capital expenditures | -36,319 | -27,314 |
Capitalized interest | -1,396 | -1,291 |
Change in unsettled capital expenditures | -5,648 | -3,276 |
Proceeds on sale of assets | 2,923 | 4,747 |
Proceeds on sale/contribution of asset to AWN | ' | 100,000 |
Net change in short-term investments | ' | 2,037 |
Change in unsettled acquisition costs | ' | -3,345 |
Net change in restricted accounts | -1,071 | 3,393 |
Net cash provided (used) by investing activities | -41,511 | 74,951 |
Cash Flows from Financing Activities: | ' | ' |
Repayments of long-term debt | -9,255 | -97,382 |
Debt issuance costs | ' | -206 |
Payment of cash dividend on common stock | -6,831 | ' |
Payment of withholding taxes on stock-based compensation | -243 | -632 |
Proceeds from the issuance of common stock | 179 | 117 |
Net cash used by financing activities | -16,150 | -98,103 |
Change in cash and cash equivalents | -1,451 | 36,456 |
Cash and cash equivalents, beginning of period | 20,490 | 16,839 |
Cash and cash equivalents, end of period | 19,039 | 53,295 |
Supplemental Cash Flow Data: | ' | ' |
Interest paid | 24,799 | 25,201 |
Extinguishment of hedging instrument | ' | 4,073 |
Income tax paid (refunded), net | -24 | ' |
Supplemental Non-cash Transactions: | ' | ' |
Property acquired (retired) under capital leases, net | -24 | -17 |
Dividend declared, but not paid | 2,286 | ' |
Additions to ARO asset | 78 | 180 |
Exchange of debt with common stock | ' | $6,000 |
Description_of_Company_and_of_
Description of Company and of Significant Accounting Policies | 9 Months Ended | ||
Sep. 30, 2013 | |||
Accounting Policies [Abstract] | ' | ||
Description of Company and of Significant Accounting Policies | ' | ||
1 | DESCRIPTION OF COMPANY AND OF SIGNIFICANT ACCOUNTING POLICIES | ||
Alaska Communications Systems Group, Inc. (“we”, “our”, “us”, the “Company” and “ACS”), a Delaware corporation, through its operating subsidiaries, provides integrated communication services to business, wholesale and consumer customers in the State of Alaska and beyond using its statewide and interstate telecommunications network. | |||
The accompanying unaudited condensed consolidated financial statements represent the consolidated financial position, comprehensive income and cash flows of Alaska Communications Systems Group, Inc. and the following wholly-owned subsidiaries: | |||
• Alaska Communications Systems Holdings, Inc. (“ACS Holdings”) | • Crest Communications Corporation (“Crest”) | ||
• WCI Cable, Inc. | |||
• ACS of Alaska, LLC. (“ACSAK”) | • WCIC Hillsboro, LLC. | ||
• ACS of the Northland, LLC. (“ACSN”) | • Alaska Northstar Communications, LLC. | ||
• ACS of Fairbanks, LLC. (“ACSF”) | • WCI Lightpoint, LLC. | ||
• ACS of Anchorage, LLC. (“ACSA”) | • Worldnet Communications, Inc. | ||
• ACS Wireless, Inc. (“ACSW”) | • Alaska Fiber Star, LLC. | ||
• ACS Long Distance, LLC. (“ACSLD”) | |||
• ACS Internet, LLC. (“ACSI”) | |||
• ACS Messaging, Inc. (“ACSM”) | |||
• ACS Cable Systems, LLC. (“ACSC”) | |||
In addition to the wholly-owned subsidiaries, the Company owns a 49% interest in TekMate, LLC (“TekMate”) and a 33% interest in Alaska Wireless Network, LLC (“AWN”) which are represented in the Company’s condensed consolidated financial statements as equity method investments. See Note 3 Equity Method Investments for additional information. | |||
Basis of Presentation | |||
The accompanying unaudited condensed consolidated financial statements and footnotes included in this Quarterly Report on Form 10-Q should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2012. Certain information and footnote disclosures normally included in financial statements prepared in accordance with Generally Accepted Accounting Principles (“GAAP”) in the United States of America (“U.S.”) have been condensed or omitted pursuant to rules and regulations of the Securities and Exchange Commission (“SEC”). The Company believes the disclosures made are adequate to make the information presented not misleading. | |||
In the opinion of management, the unaudited condensed consolidated financial statements contain all normal, recurring adjustments necessary to present fairly the consolidated financial position, comprehensive income and cash flows for all periods presented. The comprehensive income for the three and nine months ended September 30, 2013, are not necessarily indicative of comprehensive income which might be expected for the entire year or any other interim periods. The balance sheet at December 31, 2012 has been derived from the audited financial statements as of that date but does not include all of the information and notes required by GAAP for complete financial statements. | |||
Use of Estimates | |||
The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the Company’s consolidated financial statements and the accompanying notes, including estimates of probable losses and expenses. Actual results could differ materially from those estimates. | |||
Recently Adopted Accounting Pronouncements | |||
In February 2013, the FASB issued ASU No. 2013-02, Comprehensive Income (Topic 220): Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income (“ASU 2013-02”). This ASU does not change the current requirements for reporting net income or other comprehensive income, but does require additional information about the amounts reclassified out of accumulated other comprehensive income by component. An entity is required to present significant amounts reclassified out of accumulated other comprehensive income by the respective line items of net income if the amount reclassified is required under | |||
GAAP to be reclassified to net income in its entirety in the same reporting period. ASU 2013-02 is effective prospectively for reporting periods beginning after December 15, 2012 and was adopted by the Company in the first quarter of 2013. The required disclosures are presented in Note 3 Fair Value Measurements. | |||
Recently Issued Accounting Pronouncements | |||
As of September 30, 2013, there were no recently issued accounting standards the future adoption of which is expected to have a material effect on the Company’s future financial condition and results of operations. |
Restatement_of_Condensed_Conso
Restatement of Condensed Consolidated Financial Statements | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||
Accounting Changes And Error Corrections [Abstract] | ' | ||||||||||||||||||||||||
Restatement of Condensed Consolidated Financial Statements | ' | ||||||||||||||||||||||||
2 | RESTATEMENT OF CONDENSED CONSOLIDATED FINANCIAL STATEMENTS | ||||||||||||||||||||||||
Restatement | |||||||||||||||||||||||||
On November 8, 2013, Alaska Communications Systems Group, Inc. (the “Company”) filed its Quarterly Report on Form 10-Q for the quarter ended September 30, 2013 (the “Form 10-Q”). That report disclosed (i) the Company’s gain (the “Gain on Sale/Contribution”) arising from the formation of The Alaska Wireless Network, LLC (“AWN”), a joint venture in which the Company holds a one-third equity interest, and (ii) certain amounts the Company classified as contingent consideration arising from the cumulative preferred distributions payable to the Company by AWN. | |||||||||||||||||||||||||
Prior to this amended filing we accounted for the excess preferred distribution as contingent consideration issued in connection with a business combination. The excess distribution represents four years of distributions that we will receive over and above what we would have been entitled to receive as a one-third owner of AWN. The contingent consideration was treated as a gain contingency by us to be recognized when realized or realizable. | |||||||||||||||||||||||||
The Company disclosed in the Form 10-Q that the above accounting treatment differed from AWN’s and indicated that the Company was working to resolve the difference. As a result of that work, on February 14, 2014, we amended that position and will be accounting for the excess distribution as a form of equity issued as part of the original transaction. | |||||||||||||||||||||||||
In addition to that change we have broken out our affiliate balances on the face of our financial statements and updated our initial estimate of the fair value of assets and liabilities on the Company’s balance sheet based upon the latest draft of the valuation schedules obtained by the national valuation firm engaged by both ACS and GCI. See Note 3 – Equity Method Investments for more information on the independent valuation. | |||||||||||||||||||||||||
A summary of the primary impacts and adjustments to the financial statements are as follows: | |||||||||||||||||||||||||
• | The gain on the sale/contribution and their carrying value of the equity investment were increased to reflect the value, as of the formation of AWN, of the AWN Excess Distributions | ||||||||||||||||||||||||
• | The amounts presented as AWN Excess Distributions for the three and nine months ended September 30, 2013, were eliminated | ||||||||||||||||||||||||
• | The tax effect of the increased gain was reflected in income tax expense | ||||||||||||||||||||||||
• | Going forward: AWN excess distributions will not be recorded in earnings but instead will decrease our investment in AWN. The cash amount of the distributions remains unchanged. | ||||||||||||||||||||||||
• | The balances due to and from affiliates and the activity between ACS and affiliates is now clearly shown on the face of our financial statements | ||||||||||||||||||||||||
• | The recording of the updated fair value of AWN impacted the Company’s balance sheet as follows: | ||||||||||||||||||||||||
• | Our investment in AWN increased by $63,133, of which, $61,950 is due to the fair value of excess preferred cash distributions, as preliminarily determined by a national valuation expert; the remainder pertains to adjustments to our preliminary fair value estimates | ||||||||||||||||||||||||
• | The tax effect of the increased gain resulted in a decrease in the non-current portion of our deferred income tax assets | ||||||||||||||||||||||||
• | Our initial estimate of Deferred AWN capacity revenue decreased to $68,182, and accordingly, amortization in future periods will decrease | ||||||||||||||||||||||||
The Company has set forth the following tables presenting the consolidated restated financial statements for the three and nine months ended September 30, 2013, together with reconciling information to the consolidated financial statements previously filed in the Company’s Report on 10-Q for that quarter. See notes 3, 4, and 8 for other disclosures impacted by the restatement. In addition to that change we have disaggregated our affiliate balances on the face of our financial statements and updated our preliminary estimate of the fair value of our investment in AWN, the deferred AWN capacity revenue and related taxes on the Company’s balance sheet based on the latest draft of the valuation schedules obtained by the national valuation firm engaged by both ACS and GCI. | |||||||||||||||||||||||||
Condensed Consolidated Balance Sheet Adjustments | |||||||||||||||||||||||||
The following is a summary of the adjustments to our previously issued consolidated balance sheet as of September 30, 2013: | |||||||||||||||||||||||||
September 30, 2013 | |||||||||||||||||||||||||
As Reported | Adjustments | As Restated | |||||||||||||||||||||||
Assets | |||||||||||||||||||||||||
Accounts receivable, non-affiliates | $ | 31,390 | $ | (17 | ) | $ | 31,373 | ||||||||||||||||||
Accounts receivable, affiliates | — | 17 | 17 | ||||||||||||||||||||||
Deferred income taxes (non-current) | 48,337 | (29,718 | ) | 18,619 | |||||||||||||||||||||
Equity method investments | 207,566 | 63,133 | 270,699 | ||||||||||||||||||||||
Total assets | 714,897 | 33,415 | 748,312 | ||||||||||||||||||||||
Liabilities and Stockholders’ Equity (Deficit) | |||||||||||||||||||||||||
Accounts payable, accrued and other current liabilities, non-affiliates | 61,033 | (7,786 | ) | 53,247 | |||||||||||||||||||||
Accounts payable, accrued and other current liabilities, affiliates | — | 7,342 | 7,342 | ||||||||||||||||||||||
Total current liabilities | 82,735 | (444 | ) | 82,291 | |||||||||||||||||||||
Other long-term liabilities | 93,571 | (72,486 | ) | 21,085 | |||||||||||||||||||||
Deferred AWN capacity revenue | — | 64,036 | 64,036 | ||||||||||||||||||||||
Total liabilities | 621,088 | (8,894 | ) | 612,194 | |||||||||||||||||||||
Accumulated deficit | (51,519 | ) | 42,309 | (9,210 | ) | ||||||||||||||||||||
Total stockholders’ equity (deficit) | 93,809 | 42,309 | 136,118 | ||||||||||||||||||||||
Total liabilities and stockholders’ equity (deficit) | 714,897 | 33,415 | 748,312 | ||||||||||||||||||||||
Condensed Consolidated Statements of Comprehensive Income Adjustments | |||||||||||||||||||||||||
The following is a summary of the adjustments to our previously issued consolidated statements of comprehensive income for the three and nine months ended September 30, 2013: | |||||||||||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||||||||||
September 30, 2013 | September 30, 2013 | ||||||||||||||||||||||||
As Reported | Adjustments | As Restated | As Reported | Adjustments | As Restated | ||||||||||||||||||||
Operating revenues, non-affiliates | $ | 83,841 | $ | (1,414 | ) | $ | 82,427 | $ | 272,657 | $ | (1,535 | ) | $ | 271,122 | |||||||||||
Operating revenues, affiliates | — | 1,414 | 1,414 | — | 1,535 | 1,535 | |||||||||||||||||||
Cost of services and sales, non-affiliates | 44,720 | (11,642 | ) | 33,078 | 117,371 | (11,959 | ) | 105,412 | |||||||||||||||||
Cost of services and sales, affiliates | — | 11,642 | 11,642 | — | 11,959 | 11,959 | |||||||||||||||||||
(Gain) loss on disposal of assets, net | (132,109 | ) | (74,894 | ) | (207,003 | ) | (131,483 | ) | (74,894 | ) | (206,377 | ) | |||||||||||||
AWN excess distribution | (2,867 | ) | 2,867 | — | (2,867 | ) | 2,867 | — | |||||||||||||||||
Total operating expenses (income) | (59,855 | ) | (72,027 | ) | (131,882 | ) | 91,968 | (72,027 | ) | 19,941 | |||||||||||||||
Operating income | 143,696 | 72,027 | 215,723 | 180,689 | 72,027 | 252,716 | |||||||||||||||||||
Income before income tax expense | 131,836 | 72,027 | 203,863 | 148,373 | 72,027 | 220,400 | |||||||||||||||||||
Income tax expense | (54,238 | ) | (29,718 | ) | (83,956 | ) | (29,613 | ) | (29,718 | ) | (59,331 | ) | |||||||||||||
Net income | 77,598 | 42,309 | 119,907 | 118,760 | 42,309 | 161,069 | |||||||||||||||||||
Total comprehensive income | 78,513 | 42,309 | 120,822 | 121,057 | 42,309 | 163,366 | |||||||||||||||||||
Net income per share: | |||||||||||||||||||||||||
Basic | $ | 1.65 | $ | 0.89 | $ | 2.54 | $ | 2.55 | $ | 0.91 | $ | 3.46 | |||||||||||||
Diluted | $ | 1.33 | $ | 0.72 | $ | 2.05 | $ | 2.09 | $ | 0.72 | $ | 2.81 | |||||||||||||
Condensed Consolidated Statements of Cash Flows Adjustments | |||||||||||||||||||||||||
The following is a summary of the adjustments to our previously issued consolidated statements of cash flows for the three and nine months ended September 30, 2013. | |||||||||||||||||||||||||
Nine Months Ended | |||||||||||||||||||||||||
September 30, 2013 | |||||||||||||||||||||||||
As Reported | Adjustments | As Restated | |||||||||||||||||||||||
Cash Flows from Operating Activities: | |||||||||||||||||||||||||
Net income | $ | 118,760 | $ | 42,309 | $ | 161,069 | |||||||||||||||||||
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||||||||||||||||
Gain on sale/contribution of asset to AWN | (132,424 | ) | (74,894 | ) | (207,318 | ) | |||||||||||||||||||
AWN excess distribution | (2,867 | ) | 2,867 | — | |||||||||||||||||||||
Deferred income taxes | 29,015 | 29,718 | 58,733 | ||||||||||||||||||||||
Other non-cash expense, net | (1,710 | ) | 2,867 | 1,157 | |||||||||||||||||||||
Net cash provided by operating activities | 56,741 | 2,867 | 59,608 | ||||||||||||||||||||||
Cash Flows from Investing Activities: | |||||||||||||||||||||||||
AWN excess distribution | 2,867 | (2,867 | ) | — | |||||||||||||||||||||
Net cash provided (used) by investing activities | 77,818 | (2,867 | ) | 74,951 | |||||||||||||||||||||
Equity_Method_Investments_Rest
Equity Method Investments (Restated) | 9 Months Ended | ||||||||||||
Sep. 30, 2013 | |||||||||||||
Equity Method Investments And Joint Ventures [Abstract] | ' | ||||||||||||
Equity Method Investments (Restated) | ' | ||||||||||||
3 | EQUITY METHOD INVESTMENTS (RESTATED) | ||||||||||||
The consolidated financial statements include the accounts of the Company and its subsidiaries in which it maintains a controlling financial interest. Investments in entities where the Company is able to exercise significant influence, but not control, are accounted for by the equity method. For transactions with entities accounted for under the equity method, any intercompany profits on amounts still remaining are eliminated. Amounts originating from any deferral of intercompany profits are recorded within either the Company’s investment account or the account balance to which the transaction specifically relates (e.g., construction of fixed assets). Only upon settlement of the intercompany transaction with a third party is the deferral of the intercompany profit recognized by the Company. At September 30, 2013, all affiliate transactions have been settled with third parties. | |||||||||||||
The Company’s equity method investments consist of a 49% interest in TekMate and a 33% interest in AWN. | |||||||||||||
The following table provides the Company’s ownership interest and investment in TekMate and AWN at the dates indicated: | |||||||||||||
September 30, | |||||||||||||
Ownership | 2013 | December 31, | |||||||||||
Interest | (restated) | 2012 | |||||||||||
TekMate, LLC | 49 | % | $ | 2,024 | $ | 2,028 | |||||||
Alaska Wireless Network, LLC | 33 | % | 268,675 | — | |||||||||
TekMate | |||||||||||||
In the nine-month period ended September 30, 2013, the Company’s interest in TekMate’s loss was $3 and TekMate made no cash distributions to the Company. At September 30, 2013, there were no undistributed earnings. | |||||||||||||
AWN | |||||||||||||
On July 22, 2013, the Company and General Communication, Inc. (“GCI”) completed the transactions contemplated by the June 4, 2012 Asset Purchase and Contribution Agreement (the “Contribution Agreement”) between themselves, two of their respective subsidiaries (the “ACS Member” and the “GCI Member”) and AWN for the purpose of combining their wireless networks into AWN. | |||||||||||||
Pursuant to the Contribution Agreement, the ACS Member sold certain wireless assets to the GCI Member for a cash payment of $100,000. The GCI Member then contributed these assets, together with GCI’s wireless assets, to AWN in exchange for a two-thirds membership interest in AWN. The ACS Member contributed the Company’s wireless assets that were not sold to GCI to AWN in exchange for a one-third membership interest in AWN. | |||||||||||||
At the closing, the parties to the AWN transaction entered into the First Amended and Restated Operating Agreement of The Alaska Wireless Network, LLC (the “Operating Agreement”) and other related agreements which will govern the ongoing relationship between the parties. Under the terms of the Operating Agreement, AWN will generally be managed by its majority owner, GCI, subject to certain protective rights retained by the Company and representation of one of three seats on AWN’s Board. Accordingly, ACS has the ability to exercise significant influence over AWN and accounts for its investment under the equity method in accordance with ASC 323 Investments - Equity Method and Joint Ventures. | |||||||||||||
The Operating Agreement provides that the ACS Member is entitled to a cumulative preferred cash distribution of up to $12,500 of Adjusted Free Cash Flow, as defined in the agreement, in each of the first eight quarters after closing and $11,250 in each of the eight quarters thereafter (ACS’ preference period). Such preferred cash distributions will be made on a monthly basis. GCI Member will receive distributions of the Adjusted Free Cash Flow in excess of the preferred distributions in each quarter during ACS’ preference period. The distributions to each member are subject to certain adjustments based on decreases in the number of ACS Member and GCI Member connections, with the aggregate adjustment capped at $21,800 for each member over the respective testing periods for each member. At the end of ACS’ preference period and payment of accumulated preference amounts, distributions will be made in accordance with membership interests. | |||||||||||||
A national valuation firm was engaged by ACS and GCI to assist in the determination of the fair value of AWN including the preferred distribution and the allocation of the purchase price to the assets and liabilities using income (discounted cash flow) and cost (replacement cost) approaches. At the time we filed our Form 10-Q for the three and nine months ended September 30, 2013, the firm provided a preliminary valuation subject to review and further input from both GCI and ACS. Based upon our latest correspondence with the valuation firm our estimate of the value of our interest in AWN, which includes the value of the preferred distributions, now stands at $266,000. | |||||||||||||
The assets sold or contributed included spectrum licenses and wireless switching and transmission equipment having a carrying value on the Company’s books of $87,542. Additionally, the Company contributed certain network usage rights necessary to operate the combined Alaska state-wide network contributed to AWN. Using the work performed by the national valuation firm noted above, these rights have been recorded at fair value and the resulting liability was recorded in Accounts payable and other accrued liabilities – affiliates and Deferred AWN Capacity revenue in the “Consolidated Balance Sheets”. This balance is being amortized on a straight-line basis to revenue in the “Consolidated Statements of Comprehensive Income (Loss)”, over the 20 year contract period for which the Company has contracted to provide service. Cost to maintain our state-wide network are not maintained at a level of specificity that would allow us to determine any incremental direct costs associated with providing capacity to AWN. | |||||||||||||
Contributed liabilities included certain asset retirement obligations and the obligations arising under the contributed contracts and direct third-party data circuit costs provided by tariff or purchase orders after the closing date. | |||||||||||||
In accordance with the Operating agreement, ACS as a member of AWN is required to purchase its wholesale wireless services from AWN. As these services are performed they are recorded as operating revenue by AWN and Cost of services and sales – affiliate by ACS. | |||||||||||||
In accordance with ASC 810-10, paragraph 40-6 Deconsolidation, the Contribution Agreement and the Operating Agreement cannot be bifurcated and are treated as a single transaction for accounting and financial reporting purposes. Accordingly, the sale by ACS of certain wireless assets to GCI, the contribution by ACS of other certain wireless assets directly to AWN, and the acquisition of one-third interest, including the preferred distribution, in AWN by ACS are accounted for as a single transaction. | |||||||||||||
In the third quarter 2013, the Company recorded a pre-tax gain of $207,318 representing the gain on the sale of wireless assets to GCI and the contribution of wireless assets to AWN. Approximately $83,200 of the pre-tax gain relates to ACS’ one-third retained interest in its wireless assets sold/contributed to AWN. | |||||||||||||
The following table represents the calculation of the gain: | |||||||||||||
Consideration received: | |||||||||||||
Investment | $ | 266,000 | |||||||||||
Cash | 100,000 | ||||||||||||
Total consideration received | 366,000 | ||||||||||||
Consideration provided: | |||||||||||||
Net intangible and tangible assets | (90,500 | ) | |||||||||||
Deferred AWN Capacity Revenue | (68,182 | ) | |||||||||||
Total consideration provided | (158,682 | ) | |||||||||||
Gain on disposal of assets | $ | 207,318 | |||||||||||
In the nine-month period ended September 30, 2013, specifically July 23, 2013 through September 30, 2013, the Company’s share of AWN’s adjusted free cash flow was $9,556, of which $5,389 was received during the period and $4,167 was paid within the 12-day contractual period. | |||||||||||||
Condensed financial information on AWN is as follows: | |||||||||||||
September 30, | |||||||||||||
2013 | |||||||||||||
Current Assets | $ | 76,857 | |||||||||||
Non-Current Assets | $ | 530,908 | |||||||||||
Current Liabilities | $ | 26,136 | |||||||||||
Non-Current Liabilities | $ | 43,190 | |||||||||||
Equity | $ | 631,382 | |||||||||||
Inception to | |||||||||||||
September 30, | |||||||||||||
2013 | |||||||||||||
Operating Revenues | $ | 58,826 | |||||||||||
Gross Profit | $ | 36,568 | |||||||||||
Operating Income | $ | 25,333 | |||||||||||
Net Income | $ | 25,259 | |||||||||||
Adjusted Free Cash Flow (1) | $ | 20,068 | |||||||||||
(1) | Adjusted free cash flow as defined in the AWN Operating Agreement | ||||||||||||
The excess of ACS’ investment over the Company’s share of net assets in AWN is estimated to be $47,278 at September 30, 2013. This difference represents the increase in basis of the GCI Member’s contribution to AWN, as AWN is accounting for the GCI member’s contribution at carryover basis and ACS is accounting for it at estimated fair value. Approximately 54.9% of this balance represents an increase in the basis of GCI’s depreciable contributed assets and will be amortized over the estimated remaining useful lives of these assets. The remaining difference is not amortized; however, the investment in AWN is analyzed for impairment. No impairment has been recorded on ACS’ investment of AWN to-date. | |||||||||||||
Additionally on July 22, 2013, the Company made a $65,000 principal payment on the term loan under its 2010 Senior Secured Credit Facility (“Senior Credit Facility”). As a result of this incremental principal payment in the third quarter 2013, the Company terminated $192,500 of its $385,000 total notional floating-to-fixed interest rate swaps and paid charges of $4,073. Also in the third quarter 2013, the portion of unrealized losses on this swap recorded to accumulated other comprehensive loss, from the swap’s inception through the date hedge accounting treatment was discontinued (November 1, 2012), associated with the variable rate interest payments underlying the accelerated $65,000 principal payment, were reclassified to loss on extinguishment of debt. The amount of this reclassification was $707. The remaining balance of amounts recorded to accumulated other comprehensive loss associated with this hedge will be amortized to interest expense over the period of the remaining originally designated hedged variable rate interest payments. |
Fair_Value_Measurements_Restat
Fair Value Measurements (Restated) | 9 Months Ended | ||||||||||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||||||||||||||||||
Fair Value Measurements (Restated) | ' | ||||||||||||||||||||||||||||||||
4 | FAIR VALUE MEASUREMENTS (RESTATED) | ||||||||||||||||||||||||||||||||
The fair values of cash equivalents, restricted cash, other short-term monetary assets and liabilities and capital leases approximate carrying values due to their nature. The non-monetary consideration exchanged in the Company’s deconsolidation, related to the AWN transaction, has been valued using multiple valuation methods using significant unobservable inputs (Level 3). The fair value of the Company’s Senior Credit Facility, convertible notes and other long-term obligations of $438,756 at September 30, 2013, were estimated based primarily on quoted market prices (Level 1). The carrying values of these liabilities totaled $457,647 at September 30, 2013. | |||||||||||||||||||||||||||||||||
The Company has developed valuation techniques based upon observable and unobservable inputs to calculate the fair value of non-current monetary assets and liabilities. Observable inputs reflect market data obtained from independent sources while unobservable inputs reflect internal market assumptions. These two types of inputs create the following fair value hierarchy: | |||||||||||||||||||||||||||||||||
• | Level 1 - Quoted prices for identical instruments in active markets | ||||||||||||||||||||||||||||||||
• | Level 2 - Quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-derived valuations whose inputs are observable or whose significant value drivers are observable | ||||||||||||||||||||||||||||||||
• | Level 3 - Significant inputs to the valuation model are unobservable | ||||||||||||||||||||||||||||||||
Financial assets and liabilities are classified within the fair value hierarchy in their entirety based on the lowest level of input that is significant to the fair value measurements. The Company’s assessment of the significance of a particular input to the fair value measurements requires judgment and may affect the valuation of the assets and liabilities being measured, as well as their level within the fair value hierarchy. | |||||||||||||||||||||||||||||||||
The following table presents the balances of assets and liabilities measured at fair value on a recurring basis as of September 30, 2013 and December 31, 2012, at each hierarchical level: | |||||||||||||||||||||||||||||||||
September 30, 2013 | December 31, 2012 | ||||||||||||||||||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | Total | Level 1 | Level 2 | Level 3 | ||||||||||||||||||||||||||
Other long-term liabilities: | |||||||||||||||||||||||||||||||||
Interest rate swaps | (3,619 | ) | — | (3,619 | ) | — | (9,819 | ) | — | (9,819 | ) | — | |||||||||||||||||||||
Fair Value of AWN | |||||||||||||||||||||||||||||||||
As described in Note 3 Equity Method Investments, a national valuation firm was engaged by ACS and GCI to assist in the determination of the enterprise fair value of AWN and the allocation of the purchase price to the assets and liabilities. The valuation report is in the process of being finalized which we anticipate to be completed by the time we file our Form 10-Q for the period ended March 31, 2014. The estimate of fair value of the Company’s interest in AWN is $266,000 and the contributed network usage rights are $68,182. The estimates may be adjusted upon finalization. The deferred AWN capacity revenue represents the value of the capacity contributions and the operations and maintenance support of these facilities. The benefit of this deferred revenue is being amortized on a straight-line basis to revenue in the “Consolidated Statements of Comprehensive Income (Loss)”, over the 20 year contract period for which the Company has contracted to provide service. | |||||||||||||||||||||||||||||||||
The following table represents certain valuation techniques used to measure the fair value of such instruments, and the significant unobservable inputs and values for those inputs: | |||||||||||||||||||||||||||||||||
Description | Estimated | Valuation | Level 3 Unobservable | Significant | |||||||||||||||||||||||||||||
Fair Value | Technique | Inputs | Input Values | ||||||||||||||||||||||||||||||
Investment in AWN | $ | 266,000 | Discounted Cash Flow | Weighted Average Cost of Capital | 7.8% - 11.5 | % | |||||||||||||||||||||||||||
Annual cash flow projections | $50,000 - $65,000 | ||||||||||||||||||||||||||||||||
Non-controlling interest discount | 0 | % | |||||||||||||||||||||||||||||||
Deferred AWN Capacity Revenue | $ | 68,182 | Cost / Replacement Value | Weighted Average Cost of Capital | 11.5 | % | |||||||||||||||||||||||||||
Cost trend factor | 1.00% - 2.17 | % | |||||||||||||||||||||||||||||||
Estimated % used by AWN | 4% - 100 | % | |||||||||||||||||||||||||||||||
Historical cost of underlying assets | Actual cost | ||||||||||||||||||||||||||||||||
Derivative Financial Instruments | |||||||||||||||||||||||||||||||||
Prior to the AWN transaction, the Company had three floating-to-fixed interest rate swaps to manage variable interest rate risk. The notional amount of these swaps was $192,500, $115,500 and $77,000 with interest rates of 6.963%, 6.970% and 6.975%, respectively, inclusive of a 4.5% LIBOR spread. The swaps began on June 30, 2012 and expire on September 30, 2015. At low LIBOR rates, payments under the swaps increased the Company’s cash interest expense. On November 1, 2012, the effective date of the amendment to the Company’s Senior Credit Facility, and as a result of the incremental $65,000 AWN transaction principal payment on the term loan required by this amendment, it was determined that the swap in the notional amount of $192,500 no longer met the hedge effectiveness criteria under ASC 815 Derivatives and Hedging. Accordingly, hedge accounting treatment was discontinued prospectively on this swap effective November 1, 2012, and subsequent changes in the fair value were recognized as interest expense. Amounts recorded to other comprehensive loss from the date of the swap’s inception through October 31, 2012 were amortized to interest expense over the period of the originally scheduled interest payments. On July 19, 2013, when the Company received final approval from the SEC regarding the investment company act, the AWN transaction moved from “possible” to “probable” and triggered the movement of $707 from other comprehensive loss to loss on the extinguishment of debt, representing the portion of the $192,500 swap that was over-hedged when the $65,000 payment was made. The remaining amount will be amortized from other comprehensive loss to interest expense over the life of the term loan. The $192,500 swap settled on August 1, 2013 for $4,073 in cash and, simultaneously, the marked-to-market resulted in an adjustment to interest expense of $231. | |||||||||||||||||||||||||||||||||
In conjunction with the November 1, 2012 amendment, the notional amount of the two remaining swaps are $115,500 and $77,000 with interest rates of 7.220% and 7.225%, respectively, inclusive of a 4.75% LIBOR spread. The outstanding amount of the two remaining swaps as of period-end are reported on the balance sheet at fair value, represented by the estimated amount the Company would receive, or pay, to terminate the swaps. They are valued using models based on readily observable market parameters for all substantial terms of the contracts and are classified within Level 2 of the fair value hierarchy. | |||||||||||||||||||||||||||||||||
The following table presents information about the floating-to-fixed interest rate swap in the notional amount of $192,500 as of and for the three and nine-month periods ending September 30, 2013: | |||||||||||||||||||||||||||||||||
Three | Nine | ||||||||||||||||||||||||||||||||
Months | Months | ||||||||||||||||||||||||||||||||
Reclassified from accumulated other comprehensive loss to interest expense | $ | (1,082 | ) | $ | (1,948 | ) | |||||||||||||||||||||||||||
Change in fair value credited to interest expense | $ | (231 | ) | $ | 785 | ||||||||||||||||||||||||||||
Estimated amount of accumulated other comprehensive loss to be reclassified to interest expense within the next twelve months | $ | (1,424 | ) |
LongTerm_Obligations
Long-Term Obligations | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Debt Disclosure [Abstract] | ' | ||||||||
Long-Term Obligations | ' | ||||||||
5 | LONG-TERM OBLIGATIONS | ||||||||
Long-term obligations consist of the following at September 30, 2013 and December 31, 2012, respectively: | |||||||||
2013 | 2012 | ||||||||
2010 senior credit facility term loan due 2016 | $ | 347,725 | $ | 431,200 | |||||
Debt discount - 2010 senior credit facility term loan due 2016 | (1,838 | ) | (2,796 | ) | |||||
6.25% convertible notes due 2018 | 114,000 | 120,000 | |||||||
Debt discount - 6.25% convertible notes due 2018 | (9,666 | ) | (11,602 | ) | |||||
5.75% convertible notes due 2013 | — | 12,980 | |||||||
Debt discount - 5.75% convertible notes due 2013 | — | (114 | ) | ||||||
Revolving credit facility loan | — | — | |||||||
Capital leases and other long-term obligations | 7,426 | 5,732 | |||||||
457,647 | 555,400 | ||||||||
Less current portion | (12,865 | ) | (21,628 | ) | |||||
Long-term obligations, net of current portion | $ | 444,782 | $ | 533,772 | |||||
On July 22, 2013, the Company made a $65,000 principal payment on the term loan under its 2010 Senior Credit Facility (as explained above in Note 2 Equity Method Investments). The Board of Directors has authorized the issuance of up to 10% of the Company’s common shares (no more than 4,700 shares) for the purchase of its convertible notes. On August 29, 2013, the Company delivered and issued 698 common shares in exchange for the retirement of $2,500 aggregate principal amount of 6.25% convertible notes due 2018. On September 10, 2013, the Company delivered and issued 1,203 common shares in exchange for the retirement of $3,500 aggregate principal amount of 6.25% convertible notes due 2018. | |||||||||
As of September 30, 2013, the aggregate maturities of long-term obligations for each of the five years and thereafter subsequent to September 30, 2013, were as follows: | |||||||||
2013 (October 1 - December 31) | $ | 2,183 | |||||||
2014 (January 1 - December 31) | 14,253 | ||||||||
2015 (January 1 - December 31) | 15,361 | ||||||||
2016 (January 1 - December 31) | 318,730 | ||||||||
2017 (January 1 - December 31) | 437 | ||||||||
2018 (January 1 - December 31) | 114,288 | ||||||||
Thereafter | 3,899 | ||||||||
$ | 469,151 | ||||||||
Accumulated_Other_Comprehensiv
Accumulated Other Comprehensive Loss | 9 Months Ended | ||||||||||||
Sep. 30, 2013 | |||||||||||||
Equity [Abstract] | ' | ||||||||||||
Accumulated Other Comprehensive Loss | ' | ||||||||||||
6 | ACCUMULATED OTHER COMPREHENSIVE LOSS | ||||||||||||
The following table summarizes the activity in accumulated other comprehensive loss for the nine-month period ended September 30, 2013: | |||||||||||||
Defined | |||||||||||||
Benefit | |||||||||||||
Pension | Interest | ||||||||||||
Plans | Rate Swaps | Total | |||||||||||
Balance, December 31, 2012 | $ | (3,491 | ) | $ | (5,748 | ) | $ | (9,239 | ) | ||||
Other comprehensive income before reclassifications | — | 790 | 790 | ||||||||||
Reclassifications from accumulated comprehensive loss to net income | 360 | 1,147 | 1,507 | ||||||||||
Net other comprehensive income | 360 | 1,937 | 2,297 | ||||||||||
Balance, September 30, 2013 | $ | (3,131 | ) | $ | (3,811 | ) | $ | (6,942 | ) | ||||
The following table summarizes the reclassifications from accumulated other comprehensive loss to net income for the three and nine-month periods ended September 30, 2013: | |||||||||||||
Three | Nine | ||||||||||||
Months | Months | ||||||||||||
Amortization of defined benefit plan pension items: (1) | |||||||||||||
Amortization of loss (3) | $ | 205 | $ | 612 | |||||||||
Income tax effect | (84 | ) | (252 | ) | |||||||||
After tax | 121 | 360 | |||||||||||
Amortization of loss on ineffective interest rate swap: (2) | |||||||||||||
Reclassification to interest expense | 1,082 | 1,948 | |||||||||||
Income tax effect | (445 | ) | (801 | ) | |||||||||
After tax | 637 | 1,147 | |||||||||||
Total reclassifications net of income tax | $ | 758 | $ | 1,507 | |||||||||
(1) | See Note 9 Retirement Plans for additional information regarding the Company’s pension plans. | ||||||||||||
(2) | See Note 4 Fair Value Measurements for additional information regarding the plan to terminate this swap. | ||||||||||||
(3) | Included in selling, general and administrative expense. |
Stock_Incentive_Plans
Stock Incentive Plans | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ||||||||||||||||
Stock Incentive Plans | ' | ||||||||||||||||
7 | STOCK INCENTIVE PLANS | ||||||||||||||||
Under the Company’s stock incentive plan, stock options, restricted stock, stock-settled stock appreciation rights (“SSARs”), performance share units and other awards may be granted to officers, employees, consultants, and non-employee directors. | |||||||||||||||||
The following table summarizes the SSARs and stock option activity for the nine-month period ended September 30, 2013 | |||||||||||||||||
Weighted | Weighted | ||||||||||||||||
Average | Average | Aggregate | |||||||||||||||
Number | Exercise | Remaining | Intrinsic | ||||||||||||||
of Shares | Price | Life | Value | ||||||||||||||
Outstanding at December 31, 2012 | 311 | $ | 8.66 | ||||||||||||||
Granted | — | — | |||||||||||||||
Exercised | — | — | |||||||||||||||
Canceled or expired | (12 | ) | 5.36 | ||||||||||||||
Outstanding at September 30, 2013 | 299 | 8.79 | 0.27 | $ | — | ||||||||||||
Exercisable at September 30, 2013 | 299 | $ | 8.79 | 0.27 | $ | — | |||||||||||
The following table summarizes the restricted stock unit, long-term incentive award and non-employee director stock compensation activity for the nine-month period ended September 30, 2013: | |||||||||||||||||
Weighted | |||||||||||||||||
Average | |||||||||||||||||
Number | Grant Date | ||||||||||||||||
of Shares | Fair Value | ||||||||||||||||
Nonvested at December 31, 2012 | 1,292 | $ | 5.38 | ||||||||||||||
Granted | 677 | 1.89 | |||||||||||||||
Vested | (972 | ) | 4.5 | ||||||||||||||
Canceled or expired | (49 | ) | 6.55 | ||||||||||||||
Nonvested at September 30, 2013 | 948 | $ | 3.67 | ||||||||||||||
The following table summarizes the performance share unit activity for the nine-month period ended September 30, 2013: | |||||||||||||||||
Weighted | |||||||||||||||||
Average | |||||||||||||||||
Number | Grant Date | ||||||||||||||||
of Shares | Fair Value | ||||||||||||||||
Nonvested at December 31, 2012 | 764 | $ | 4.09 | ||||||||||||||
Granted | 843 | 1.65 | |||||||||||||||
Vested | (282 | ) | 2.67 | ||||||||||||||
Canceled or expired | (130 | ) | 1.96 | ||||||||||||||
Nonvested at September 30, 2013 | 1,195 | $ | 2.94 | ||||||||||||||
The following table summarizes the assumptions used for valuation of equity instruments granted during the nine-month periods ended September 30, 2013 and 2012: | |||||||||||||||||
Nine Months Ended | |||||||||||||||||
September 30, | |||||||||||||||||
2013 | 2012 | ||||||||||||||||
Restricted stock: | |||||||||||||||||
Risk free rate | 0.03% - 0.18 | % | 0.18% - 0.21 | % | |||||||||||||
Quarterly dividend per share | $ | — | $ | 0.05 | |||||||||||||
Expected annual forfeiture rate | 0% - 9 | % | 9 | % | |||||||||||||
The following table provides selected information about the Company’s share-based compensation for the three and nine-month periods ended September 30, 2013 and 2012: | |||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
September 30, | September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Total compensation cost for share-based payments | $ | 550 | $ | 969 | $ | 2,268 | $ | 2,662 | |||||||||
Weighted average grant-date fair value of equity instruments granted (per share) | 2.57 | 2.25 | 1.76 | 2.68 | |||||||||||||
Total fair value of shares vested during the period | 111 | 100 | 4,823 | 2,534 | |||||||||||||
Total intrinsic value of options exercised | — | — | — | — | |||||||||||||
Unamortized share-based payments | 2,132 | 2,839 | 2,132 | 2,839 | |||||||||||||
Weighted average period (in years) to be recognized as expense | 1.9 | 1.3 | 1.9 | 1.3 |
Earnings_Per_Share_Restated
Earnings Per Share (Restated) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||||||||
Earnings Per Share (Restated) | ' | ||||||||||||||||
8 | EARNINGS PER SHARE (RESTATED) | ||||||||||||||||
Earnings per share are based on the weighted average number of shares of common stock and dilutive potential common share equivalents outstanding. Basic earnings per share includes no dilution and is computed by dividing net income or loss available to common shareholders by the weighted average number of common shares outstanding for the period. Diluted earnings per share reflect the potential dilution of securities that could share in the earnings of the Company. Potential common share equivalents include options, restricted stock and SSARs granted to employees and deferred shares granted to directors. The Company includes dilutive stock options based on the treasury stock method. Excluded from the calculation were options and SSARs totaling 299 and 311 which were out-of-the-money and therefore anti-dilutive at September 30, 2013 and 2012, respectively. Additionally, shares related to the Company’s convertible notes, which were anti-dilutive for the nine-months ended September 30, 2012, were excluded. | |||||||||||||||||
The calculation of basic and diluted earnings per share for the three and nine-month periods ended September 30, 2013 and 2012 are as follows: | |||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
September 30, | September 30, | ||||||||||||||||
Restated | Restated | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Net income (loss) applicable to common shares | $ | 119,907 | $ | 8,244 | $ | 161,069 | $ | 8,586 | |||||||||
Tax-effected interest expense attributable to convertible notes | 1,485 | 1,808 | 4,409 | — | |||||||||||||
Net income assuming dilution | $ | 121,392 | $ | 10,052 | $ | 165,478 | $ | 8,586 | |||||||||
Weighted average common shares outstanding: | |||||||||||||||||
Basic shares | 47,159 | 45,664 | 46,592 | 45,511 | |||||||||||||
Effect of stock-based compensation | 674 | 422 | 605 | 295 | |||||||||||||
Effect of convertible notes | 11,513 | 13,351 | 11,619 | — | |||||||||||||
Diluted shares | 59,346 | 59,437 | 58,816 | 45,806 | |||||||||||||
Earnings (loss) per share: | |||||||||||||||||
Basic | $ | 2.54 | $ | 0.18 | $ | 3.46 | $ | 0.19 | |||||||||
Diluted | $ | 2.05 | $ | 0.17 | $ | 2.81 | $ | 0.19 | |||||||||
Retirement_Plans
Retirement Plans | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Compensation And Retirement Disclosure [Abstract] | ' | ||||||||||||||||
Retirement Plans | ' | ||||||||||||||||
9 | RETIREMENT PLANS | ||||||||||||||||
Multi-employer Defined Benefit Plan | |||||||||||||||||
Pension benefits for substantially all of the Company’s Alaska-based employees are provided through the Alaska Electrical Pension Fund (“AEPF”). The Company pays a contractual hourly amount based on employee classification or base compensation to the AEPF. As a multi-employer defined benefit plan, the accumulated benefits and plan assets are not determined for, or allocated separately to, the individual employer. This plan is not fully funded under the Employee Retirement Income Security Act of 1974, as amended (“ERISA”). | |||||||||||||||||
Defined Benefit Plan | |||||||||||||||||
The Company has a separate defined benefit plan that covers certain employees previously employed by Century Telephone Enterprise, Inc. (“CenturyTel Plan”). This plan was transferred to the Company in connection with the acquisition of CenturyTel, Inc.’s Alaska properties, whereby assets and liabilities of the CenturyTel Plan were transferred to the ACS Retirement Plan on September 1, 1999. This plan is not fully funded under ERISA as of September 30, 2013. | |||||||||||||||||
For additional information regarding the funding status of our plans, please refer to the audited financial statements and footnotes therein included in our Form 10-K dated December 31, 2012. | |||||||||||||||||
The following table presents the net periodic pension expense for the ACS Retirement Plan for the three and nine-month periods ended September 30, 2013 and 2012: | |||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
September 30, | September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Interest cost | $ | 160 | $ | 179 | $ | 480 | $ | 466 | |||||||||
Expected return on plan assets | (180 | ) | (174 | ) | (541 | ) | (440 | ) | |||||||||
Amortization of loss | 205 | 199 | 612 | 532 | |||||||||||||
Net periodic pension expense | $ | 185 | $ | 204 | $ | 551 | $ | 558 | |||||||||
Business_Segments
Business Segments | 9 Months Ended | |
Sep. 30, 2013 | ||
Segment Reporting [Abstract] | ' | |
Business Segments | ' | |
10 | BUSINESS SEGMENTS | |
The Company operates its business under a single operating segment. The Company’s chief operating decision maker assesses the financial performance of the business as follows: (i) revenues are managed on the basis of specific customers and customer groups; (ii) costs are managed and assessed by function and generally support the organization across all customer groups or revenue streams; (iii) profitability is assessed at the consolidated level; and (iv) investment decisions and the assessment of existing assets are based on the support they provide to all revenue streams. |
Commitments_and_Contingencies
Commitments and Contingencies | 9 Months Ended | |
Sep. 30, 2013 | ||
Commitments And Contingencies Disclosure [Abstract] | ' | |
Commitments and Contingencies | ' | |
11 | COMMITMENTS AND CONTINGENCIES | |
The Company enters into purchase commitments with vendors in the ordinary course of business, including minimum purchase agreements with certain suppliers of handsets. The Company also has long-term purchase contracts with vendors to support the on-going needs of its business. These purchase commitments and contracts have varying terms and in certain cases may require the Company to buy goods and services in the future at predetermined volumes and at fixed prices. The Company also has an obligation to spend up to $5,000 in capital expenditures to allow AWN to access certain components of the capacity contributed by the Company to AWN. | ||
The Company is involved in various claims, legal actions and regulatory proceedings arising in the ordinary course of business and has recorded litigation reserves of $925 at September 30, 2013 against certain current claims and legal actions. The Company’s estimated range of reasonably possible losses does not materially differ from what has been reserved. Accordingly, the Company believes that the disposition of these matters will not have a material adverse effect on the Company’s consolidated financial position, comprehensive income or cash flows. It is the Company’s policy to expense costs associated with loss contingencies, including any related legal fees, as they are incurred. |
Description_of_Company_and_of_1
Description of Company and of Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2013 | |
Accounting Policies [Abstract] | ' |
Basis of Presentation | ' |
Basis of Presentation | |
The accompanying unaudited condensed consolidated financial statements and footnotes included in this Quarterly Report on Form 10-Q should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2012. Certain information and footnote disclosures normally included in financial statements prepared in accordance with Generally Accepted Accounting Principles (“GAAP”) in the United States of America (“U.S.”) have been condensed or omitted pursuant to rules and regulations of the Securities and Exchange Commission (“SEC”). The Company believes the disclosures made are adequate to make the information presented not misleading. | |
In the opinion of management, the unaudited condensed consolidated financial statements contain all normal, recurring adjustments necessary to present fairly the consolidated financial position, comprehensive income and cash flows for all periods presented. The comprehensive income for the three and nine months ended September 30, 2013, are not necessarily indicative of comprehensive income which might be expected for the entire year or any other interim periods. The balance sheet at December 31, 2012 has been derived from the audited financial statements as of that date but does not include all of the information and notes required by GAAP for complete financial statements. | |
Use of Estimates | ' |
Use of Estimates | |
The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the Company’s consolidated financial statements and the accompanying notes, including estimates of probable losses and expenses. Actual results could differ materially from those estimates. | |
Recently Adopted Accounting Pronouncements | ' |
Recently Adopted Accounting Pronouncements | |
In February 2013, the FASB issued ASU No. 2013-02, Comprehensive Income (Topic 220): Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income (“ASU 2013-02”). This ASU does not change the current requirements for reporting net income or other comprehensive income, but does require additional information about the amounts reclassified out of accumulated other comprehensive income by component. An entity is required to present significant amounts reclassified out of accumulated other comprehensive income by the respective line items of net income if the amount reclassified is required under | |
GAAP to be reclassified to net income in its entirety in the same reporting period. ASU 2013-02 is effective prospectively for reporting periods beginning after December 15, 2012 and was adopted by the Company in the first quarter of 2013. The required disclosures are presented in Note 3 Fair Value Measurements. | |
Recently Issued Accounting Pronouncements | ' |
Recently Issued Accounting Pronouncements | |
As of September 30, 2013, there were no recently issued accounting standards the future adoption of which is expected to have a material effect on the Company’s future financial condition and results of operations. |
Restatement_of_Condensed_Conso1
Restatement of Condensed Consolidated Financial Statements (Tables) | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||
Accounting Changes And Error Corrections [Abstract] | ' | ||||||||||||||||||||||||
Summary of Adjustments to Previously Issued Consolidated Balance Sheet | ' | ||||||||||||||||||||||||
The following is a summary of the adjustments to our previously issued consolidated balance sheet as of September 30, 2013: | |||||||||||||||||||||||||
September 30, 2013 | |||||||||||||||||||||||||
As Reported | Adjustments | As Restated | |||||||||||||||||||||||
Assets | |||||||||||||||||||||||||
Accounts receivable, non-affiliates | $ | 31,390 | $ | (17 | ) | $ | 31,373 | ||||||||||||||||||
Accounts receivable, affiliates | — | 17 | 17 | ||||||||||||||||||||||
Deferred income taxes (non-current) | 48,337 | (29,718 | ) | 18,619 | |||||||||||||||||||||
Equity method investments | 207,566 | 63,133 | 270,699 | ||||||||||||||||||||||
Total assets | 714,897 | 33,415 | 748,312 | ||||||||||||||||||||||
Liabilities and Stockholders’ Equity (Deficit) | |||||||||||||||||||||||||
Accounts payable, accrued and other current liabilities, non-affiliates | 61,033 | (7,786 | ) | 53,247 | |||||||||||||||||||||
Accounts payable, accrued and other current liabilities, affiliates | — | 7,342 | 7,342 | ||||||||||||||||||||||
Total current liabilities | 82,735 | (444 | ) | 82,291 | |||||||||||||||||||||
Other long-term liabilities | 93,571 | (72,486 | ) | 21,085 | |||||||||||||||||||||
Deferred AWN capacity revenue | — | 64,036 | 64,036 | ||||||||||||||||||||||
Total liabilities | 621,088 | (8,894 | ) | 612,194 | |||||||||||||||||||||
Accumulated deficit | (51,519 | ) | 42,309 | (9,210 | ) | ||||||||||||||||||||
Total stockholders’ equity (deficit) | 93,809 | 42,309 | 136,118 | ||||||||||||||||||||||
Total liabilities and stockholders’ equity (deficit) | 714,897 | 33,415 | 748,312 | ||||||||||||||||||||||
Summary of Adjustments to Previously Issued Consolidated Statements of Comprehensive Income | ' | ||||||||||||||||||||||||
The following is a summary of the adjustments to our previously issued consolidated statements of comprehensive income for the three and nine months ended September 30, 2013: | |||||||||||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||||||||||
September 30, 2013 | September 30, 2013 | ||||||||||||||||||||||||
As Reported | Adjustments | As Restated | As Reported | Adjustments | As Restated | ||||||||||||||||||||
Operating revenues, non-affiliates | $ | 83,841 | $ | (1,414 | ) | $ | 82,427 | $ | 272,657 | $ | (1,535 | ) | $ | 271,122 | |||||||||||
Operating revenues, affiliates | — | 1,414 | 1,414 | — | 1,535 | 1,535 | |||||||||||||||||||
Cost of services and sales, non-affiliates | 44,720 | (11,642 | ) | 33,078 | 117,371 | (11,959 | ) | 105,412 | |||||||||||||||||
Cost of services and sales, affiliates | — | 11,642 | 11,642 | — | 11,959 | 11,959 | |||||||||||||||||||
(Gain) loss on disposal of assets, net | (132,109 | ) | (74,894 | ) | (207,003 | ) | (131,483 | ) | (74,894 | ) | (206,377 | ) | |||||||||||||
AWN excess distribution | (2,867 | ) | 2,867 | — | (2,867 | ) | 2,867 | — | |||||||||||||||||
Total operating expenses (income) | (59,855 | ) | (72,027 | ) | (131,882 | ) | 91,968 | (72,027 | ) | 19,941 | |||||||||||||||
Operating income | 143,696 | 72,027 | 215,723 | 180,689 | 72,027 | 252,716 | |||||||||||||||||||
Income before income tax expense | 131,836 | 72,027 | 203,863 | 148,373 | 72,027 | 220,400 | |||||||||||||||||||
Income tax expense | (54,238 | ) | (29,718 | ) | (83,956 | ) | (29,613 | ) | (29,718 | ) | (59,331 | ) | |||||||||||||
Net income | 77,598 | 42,309 | 119,907 | 118,760 | 42,309 | 161,069 | |||||||||||||||||||
Total comprehensive income | 78,513 | 42,309 | 120,822 | 121,057 | 42,309 | 163,366 | |||||||||||||||||||
Net income per share: | |||||||||||||||||||||||||
Basic | $ | 1.65 | $ | 0.89 | $ | 2.54 | $ | 2.55 | $ | 0.91 | $ | 3.46 | |||||||||||||
Diluted | $ | 1.33 | $ | 0.72 | $ | 2.05 | $ | 2.09 | $ | 0.72 | $ | 2.81 | |||||||||||||
Summary of Adjustments To Previously Issued Consolidated Statements of Cash Flows | ' | ||||||||||||||||||||||||
The following is a summary of the adjustments to our previously issued consolidated statements of cash flows for the three and nine months ended September 30, 2013. | |||||||||||||||||||||||||
Nine Months Ended | |||||||||||||||||||||||||
September 30, 2013 | |||||||||||||||||||||||||
As Reported | Adjustments | As Restated | |||||||||||||||||||||||
Cash Flows from Operating Activities: | |||||||||||||||||||||||||
Net income | $ | 118,760 | $ | 42,309 | $ | 161,069 | |||||||||||||||||||
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||||||||||||||||
Gain on sale/contribution of asset to AWN | (132,424 | ) | (74,894 | ) | (207,318 | ) | |||||||||||||||||||
AWN excess distribution | (2,867 | ) | 2,867 | — | |||||||||||||||||||||
Deferred income taxes | 29,015 | 29,718 | 58,733 | ||||||||||||||||||||||
Other non-cash expense, net | (1,710 | ) | 2,867 | 1,157 | |||||||||||||||||||||
Net cash provided by operating activities | 56,741 | 2,867 | 59,608 | ||||||||||||||||||||||
Cash Flows from Investing Activities: | |||||||||||||||||||||||||
AWN excess distribution | 2,867 | (2,867 | ) | — | |||||||||||||||||||||
Net cash provided (used) by investing activities | 77,818 | (2,867 | ) | 74,951 |
Equity_Method_Investments_Rest1
Equity Method Investments (Restated) (Tables) | 9 Months Ended | ||||||||||||
Sep. 30, 2013 | |||||||||||||
Equity Method Investments And Joint Ventures [Abstract] | ' | ||||||||||||
Schedule of Company's Ownership Interest and Investment in TekMate and AWN | ' | ||||||||||||
The following table provides the Company’s ownership interest and investment in TekMate and AWN at the dates indicated: | |||||||||||||
September 30, | |||||||||||||
Ownership | 2013 | December 31, | |||||||||||
Interest | (restated) | 2012 | |||||||||||
TekMate, LLC | 49 | % | $ | 2,024 | $ | 2,028 | |||||||
Alaska Wireless Network, LLC | 33 | % | 268,675 | — | |||||||||
Components of Gain on Sale of Assets | ' | ||||||||||||
The following table represents the calculation of the gain: | |||||||||||||
Consideration received: | |||||||||||||
Investment | $ | 266,000 | |||||||||||
Cash | 100,000 | ||||||||||||
Total consideration received | 366,000 | ||||||||||||
Consideration provided: | |||||||||||||
Net intangible and tangible assets | (90,500 | ) | |||||||||||
Deferred AWN Capacity Revenue | (68,182 | ) | |||||||||||
Total consideration provided | (158,682 | ) | |||||||||||
Gain on disposal of assets | $ | 207,318 | |||||||||||
Condensed Financial Information | ' | ||||||||||||
Condensed financial information on AWN is as follows: | |||||||||||||
September 30, | |||||||||||||
2013 | |||||||||||||
Current Assets | $ | 76,857 | |||||||||||
Non-Current Assets | $ | 530,908 | |||||||||||
Current Liabilities | $ | 26,136 | |||||||||||
Non-Current Liabilities | $ | 43,190 | |||||||||||
Equity | $ | 631,382 | |||||||||||
Inception to | |||||||||||||
September 30, | |||||||||||||
2013 | |||||||||||||
Operating Revenues | $ | 58,826 | |||||||||||
Gross Profit | $ | 36,568 | |||||||||||
Operating Income | $ | 25,333 | |||||||||||
Net Income | $ | 25,259 | |||||||||||
Adjusted Free Cash Flow (1) | $ | 20,068 | |||||||||||
(1) | Adjusted free cash flow as defined in the AWN Operating Agreement |
Fair_Value_Measurements_Restat1
Fair Value Measurements (Restated) (Tables) | 9 Months Ended | ||||||||||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||||||||||||||||||
Balances of Assets and Liabilities Measured at Fair Value on Recurring Basis | ' | ||||||||||||||||||||||||||||||||
The following table presents the balances of assets and liabilities measured at fair value on a recurring basis as of September 30, 2013 and December 31, 2012, at each hierarchical level: | |||||||||||||||||||||||||||||||||
September 30, 2013 | December 31, 2012 | ||||||||||||||||||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | Total | Level 1 | Level 2 | Level 3 | ||||||||||||||||||||||||||
Other long-term liabilities: | |||||||||||||||||||||||||||||||||
Interest rate swaps | (3,619 | ) | — | (3,619 | ) | — | (9,819 | ) | — | (9,819 | ) | — | |||||||||||||||||||||
Schedule of Valuation Techniques to Measure Fair Value of Instruments and Significant Unobservable Inputs and Values | ' | ||||||||||||||||||||||||||||||||
The following table represents certain valuation techniques used to measure the fair value of such instruments, and the significant unobservable inputs and values for those inputs: | |||||||||||||||||||||||||||||||||
Description | Estimated | Valuation | Level 3 Unobservable | Significant | |||||||||||||||||||||||||||||
Fair Value | Technique | Inputs | Input Values | ||||||||||||||||||||||||||||||
Investment in AWN | $ | 266,000 | Discounted Cash Flow | Weighted Average Cost of Capital | 7.8% - 11.5 | % | |||||||||||||||||||||||||||
Annual cash flow projections | $50,000 - $65,000 | ||||||||||||||||||||||||||||||||
Non-controlling interest discount | 0 | % | |||||||||||||||||||||||||||||||
Deferred AWN Capacity Revenue | $ | 68,182 | Cost / Replacement Value | Weighted Average Cost of Capital | 11.5 | % | |||||||||||||||||||||||||||
Cost trend factor | 1.00% - 2.17 | % | |||||||||||||||||||||||||||||||
Estimated % used by AWN | 0% - 100 | % | |||||||||||||||||||||||||||||||
Historical cost of underlying assets | Actual cost | ||||||||||||||||||||||||||||||||
Schedule of Floating-to-Fixed Interest Rate Swap | ' | ||||||||||||||||||||||||||||||||
The following table presents information about the floating-to-fixed interest rate swap in the notional amount of $192,500 as of and for the three and nine-month periods ending September 30, 2013: | |||||||||||||||||||||||||||||||||
Three | Nine | ||||||||||||||||||||||||||||||||
Months | Months | ||||||||||||||||||||||||||||||||
Reclassified from accumulated other comprehensive loss to interest expense | $ | (1,082 | ) | $ | (1,948 | ) | |||||||||||||||||||||||||||
Change in fair value credited to interest expense | $ | (231 | ) | $ | 785 | ||||||||||||||||||||||||||||
Estimated amount of accumulated other comprehensive loss to be reclassified to interest expense within the next twelve months | $ | (1,424 | ) |
LongTerm_Obligations_Tables
Long-Term Obligations (Tables) | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Debt Disclosure [Abstract] | ' | ||||||||
Schedule of Long-Term Obligations | ' | ||||||||
Long-term obligations consist of the following at September 30, 2013 and December 31, 2012, respectively: | |||||||||
2013 | 2012 | ||||||||
2010 senior credit facility term loan due 2016 | $ | 347,725 | $ | 431,200 | |||||
Debt discount - 2010 senior credit facility term loan due 2016 | (1,838 | ) | (2,796 | ) | |||||
6.25% convertible notes due 2018 | 114,000 | 120,000 | |||||||
Debt discount - 6.25% convertible notes due 2018 | (9,666 | ) | (11,602 | ) | |||||
5.75% convertible notes due 2013 | — | 12,980 | |||||||
Debt discount - 5.75% convertible notes due 2013 | — | (114 | ) | ||||||
Revolving credit facility loan | — | — | |||||||
Capital leases and other long-term obligations | 7,426 | 5,732 | |||||||
457,647 | 555,400 | ||||||||
Less current portion | (12,865 | ) | (21,628 | ) | |||||
Long-term obligations, net of current portion | $ | 444,782 | $ | 533,772 | |||||
Aggregate Maturities of Long-Term Obligations for Each of Five Years and Thereafter | ' | ||||||||
As of September 30, 2013, the aggregate maturities of long-term obligations for each of the five years and thereafter subsequent to September 30, 2013, were as follows: | |||||||||
2013 (October 1 - December 31) | $ | 2,183 | |||||||
2014 (January 1 - December 31) | 14,253 | ||||||||
2015 (January 1 - December 31) | 15,361 | ||||||||
2016 (January 1 - December 31) | 318,730 | ||||||||
2017 (January 1 - December 31) | 437 | ||||||||
2018 (January 1 - December 31) | 114,288 | ||||||||
Thereafter | 3,899 | ||||||||
$ | 469,151 | ||||||||
Accumulated_Other_Comprehensiv1
Accumulated Other Comprehensive Loss (Tables) | 9 Months Ended | ||||||||||||
Sep. 30, 2013 | |||||||||||||
Equity [Abstract] | ' | ||||||||||||
Summary of Activity in Accumulated Other Comprehensive Loss | ' | ||||||||||||
The following table summarizes the activity in accumulated other comprehensive loss for the nine-month period ended September 30, 2013: | |||||||||||||
Defined | |||||||||||||
Benefit | |||||||||||||
Pension | Interest | ||||||||||||
Plans | Rate Swaps | Total | |||||||||||
Balance, December 31, 2012 | $ | (3,491 | ) | $ | (5,748 | ) | $ | (9,239 | ) | ||||
Other comprehensive income before reclassifications | — | 790 | 790 | ||||||||||
Reclassifications from accumulated comprehensive loss to net income | 360 | 1,147 | 1,507 | ||||||||||
Net other comprehensive income | 360 | 1,937 | 2,297 | ||||||||||
Balance, September 30, 2013 | $ | (3,131 | ) | $ | (3,811 | ) | $ | (6,942 | ) | ||||
Summary of Reclassifications from Accumulated Other Comprehensive Loss to Net Income | ' | ||||||||||||
The following table summarizes the reclassifications from accumulated other comprehensive loss to net income for the three and nine-month periods ended September 30, 2013: | |||||||||||||
Three | Nine | ||||||||||||
Months | Months | ||||||||||||
Amortization of defined benefit plan pension items: (1) | |||||||||||||
Amortization of loss (3) | $ | 205 | $ | 612 | |||||||||
Income tax effect | (84 | ) | (252 | ) | |||||||||
After tax | 121 | 360 | |||||||||||
Amortization of loss on ineffective interest rate swap: (2) | |||||||||||||
Reclassification to interest expense | 1,082 | 1,948 | |||||||||||
Income tax effect | (445 | ) | (801 | ) | |||||||||
After tax | 637 | 1,147 | |||||||||||
Total reclassifications net of income tax | $ | 758 | $ | 1,507 | |||||||||
(1) | See Note 9 Retirement Plans for additional information regarding the Company’s pension plans. | ||||||||||||
(2) | See Note 4 Fair Value Measurements for additional information regarding the plan to terminate this swap. | ||||||||||||
(3) | Included in selling, general and administrative expense. | ||||||||||||
Stock_Incentive_Plans_Tables
Stock Incentive Plans (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ||||||||||||||||
Summary of Activity for SSARs and Stock Options | ' | ||||||||||||||||
The following table summarizes the SSARs and stock option activity for the nine-month period ended September 30, 2013 | |||||||||||||||||
Weighted | Weighted | ||||||||||||||||
Average | Average | Aggregate | |||||||||||||||
Number | Exercise | Remaining | Intrinsic | ||||||||||||||
of Shares | Price | Life | Value | ||||||||||||||
Outstanding at December 31, 2012 | 311 | $ | 8.66 | ||||||||||||||
Granted | — | — | |||||||||||||||
Exercised | — | — | |||||||||||||||
Canceled or expired | (12 | ) | 5.36 | ||||||||||||||
Outstanding at September 30, 2013 | 299 | 8.79 | 0.27 | $ | — | ||||||||||||
Exercisable at September 30, 2013 | 299 | $ | 8.79 | 0.27 | $ | — | |||||||||||
Summary of Activity for Restricted Stock Units, Long-Term Incentive Awards and Non-Employee Director Stock Compensation | ' | ||||||||||||||||
The following table summarizes the restricted stock unit, long-term incentive award and non-employee director stock compensation activity for the nine-month period ended September 30, 2013: | |||||||||||||||||
Weighted | |||||||||||||||||
Average | |||||||||||||||||
Number | Grant Date | ||||||||||||||||
of Shares | Fair Value | ||||||||||||||||
Nonvested at December 31, 2012 | 1,292 | $ | 5.38 | ||||||||||||||
Granted | 677 | 1.89 | |||||||||||||||
Vested | (972 | ) | 4.5 | ||||||||||||||
Canceled or expired | (49 | ) | 6.55 | ||||||||||||||
Nonvested at September 30, 2013 | 948 | $ | 3.67 | ||||||||||||||
Summary of Activity for Performance Share Units | ' | ||||||||||||||||
The following table summarizes the performance share unit activity for the nine-month period ended September 30, 2013: | |||||||||||||||||
Weighted | |||||||||||||||||
Average | |||||||||||||||||
Number | Grant Date | ||||||||||||||||
of Shares | Fair Value | ||||||||||||||||
Nonvested at December 31, 2012 | 764 | $ | 4.09 | ||||||||||||||
Granted | 843 | 1.65 | |||||||||||||||
Vested | (282 | ) | 2.67 | ||||||||||||||
Canceled or expired | (130 | ) | 1.96 | ||||||||||||||
Nonvested at September 30, 2013 | 1,195 | $ | 2.94 | ||||||||||||||
Summary of Assumptions Used for Valuation of Equity Instruments Granted | ' | ||||||||||||||||
The following table summarizes the assumptions used for valuation of equity instruments granted during the nine-month periods ended September 30, 2013 and 2012: | |||||||||||||||||
Nine Months Ended | |||||||||||||||||
September 30, | |||||||||||||||||
2013 | 2012 | ||||||||||||||||
Restricted stock: | |||||||||||||||||
Risk free rate | 0.03% - 0.18 | % | 0.18% - 0.21 | % | |||||||||||||
Quarterly dividend per share | $ | — | $ | 0.05 | |||||||||||||
Expected annual forfeiture rate | 0% - 9 | % | 9 | % | |||||||||||||
Share-Based Compensation | ' | ||||||||||||||||
The following table provides selected information about the Company’s share-based compensation for the three and nine-month periods ended September 30, 2013 and 2012: | |||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
September 30, | September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Total compensation cost for share-based payments | $ | 550 | $ | 969 | $ | 2,268 | $ | 2,662 | |||||||||
Weighted average grant-date fair value of equity instruments granted (per share) | 2.57 | 2.25 | 1.76 | 2.68 | |||||||||||||
Total fair value of shares vested during the period | 111 | 100 | 4,823 | 2,534 | |||||||||||||
Total intrinsic value of options exercised | — | — | — | — | |||||||||||||
Unamortized share-based payments | 2,132 | 2,839 | 2,132 | 2,839 | |||||||||||||
Weighted average period (in years) to be recognized as expense | 1.9 | 1.3 | 1.9 | 1.3 |
Earnings_Per_Share_Restated_Ta
Earnings Per Share (Restated) (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||||||||
Calculation of Basic and Diluted Earnings Per Share | ' | ||||||||||||||||
The calculation of basic and diluted earnings per share for the three and nine-month periods ended September 30, 2013 and 2012 are as follows: | |||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
September 30, | September 30, | ||||||||||||||||
Restated | Restated | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Net income (loss) applicable to common shares | $ | 119,907 | $ | 8,244 | $ | 161,069 | $ | 8,586 | |||||||||
Tax-effected interest expense attributable to convertible notes | 1,485 | 1,808 | 4,409 | — | |||||||||||||
Net income assuming dilution | $ | 121,392 | $ | 10,052 | $ | 165,478 | $ | 8,586 | |||||||||
Weighted average common shares outstanding: | |||||||||||||||||
Basic shares | 47,159 | 45,664 | 46,592 | 45,511 | |||||||||||||
Effect of stock-based compensation | 674 | 422 | 605 | 295 | |||||||||||||
Effect of convertible notes | 11,513 | 13,351 | 11,619 | — | |||||||||||||
Diluted shares | 59,346 | 59,437 | 58,816 | 45,806 | |||||||||||||
Earnings (loss) per share: | |||||||||||||||||
Basic | $ | 2.54 | $ | 0.18 | $ | 3.46 | $ | 0.19 | |||||||||
Diluted | $ | 2.05 | $ | 0.17 | $ | 2.81 | $ | 0.19 | |||||||||
Retirement_Plans_Tables
Retirement Plans (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Compensation And Retirement Disclosure [Abstract] | ' | ||||||||||||||||
Summary of Net Periodic Pension Expense for ACS Retirement Plan | ' | ||||||||||||||||
The following table presents the net periodic pension expense for the ACS Retirement Plan for the three and nine-month periods ended September 30, 2013 and 2012: | |||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
September 30, | September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Interest cost | $ | 160 | $ | 179 | $ | 480 | $ | 466 | |||||||||
Expected return on plan assets | (180 | ) | (174 | ) | (541 | ) | (440 | ) | |||||||||
Amortization of loss | 205 | 199 | 612 | 532 | |||||||||||||
Net periodic pension expense | $ | 185 | $ | 204 | $ | 551 | $ | 558 | |||||||||
Description_of_Company_and_of_2
Description of Company and of Significant Accounting Policies - Additional Information (Detail) | Sep. 30, 2013 |
TekMate, LLC [Member] | ' |
Significant Accounting Policies [Line Items] | ' |
Percentage ownership interest in equity method investment | 49.00% |
Alaska Wireless Network, LLC [Member] | ' |
Significant Accounting Policies [Line Items] | ' |
Percentage ownership interest in equity method investment | 33.00% |
Restatement_of_Condensed_Conso2
Restatement of Condensed Consolidated Financial Statements - Additional Information (Detail) (USD $) | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | Scenario, Adjustment [Member] | Alaska Wireless Network, LLC [Member] | Alaska Wireless Network, LLC [Member] | |
Scenario, Adjustment [Member] | ||||
Joint venture interest | ' | ' | 33.00% | ' |
Increase in investment | $2,028 | $63,133 | ' | $63,133 |
Increase in investment due to fair value of excess preferred cash distributions | ' | ' | 61,950 | ' |
Decrease in deferred revenue | ' | ' | $68,182 | ' |
Restatement_of_Condensed_Conso3
Restatement of Condensed Consolidated Financial Statements - Summary of Adjustments to Previously Issued Consolidated Balance Sheet (Detail) (USD $) | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 |
In Thousands, unless otherwise specified | Scenario, Previously Reported [Member] | Scenario, Adjustment [Member] | Restated [Member] | |
Assets | ' | ' | ' | ' |
Accounts receivable, non-affiliates | $39,704 | $31,390 | ($17) | $31,373 |
Accounts receivable, affiliates | 9 | ' | 17 | 17 |
Deferred income taxes (non-current) | 69,049 | 48,337 | -29,718 | 18,619 |
Equity method investments | 2,028 | 207,566 | 63,133 | 270,699 |
Total assets | 614,727 | 714,897 | 33,415 | 748,312 |
Liabilities and Stockholders' Equity (Deficit) | ' | ' | ' | ' |
Accounts payable, accrued and other current liabilities, non-affiliates | 56,371 | 61,033 | -7,786 | 53,247 |
Accounts payable, accrued and other current liabilities, affiliates | 7 | ' | 7,342 | 7,342 |
Total current liabilities | 86,976 | 82,735 | -444 | 82,291 |
Other long-term liabilities | 28,662 | 93,571 | -72,486 | 21,085 |
Deferred AWN capacity revenue | ' | ' | 64,036 | 64,036 |
Total liabilities | 649,410 | 621,088 | -8,894 | 612,194 |
Accumulated deficit | -170,279 | -51,519 | 42,309 | -9,210 |
Total stockholders' equity (deficit) | -34,683 | 93,809 | 42,309 | 136,118 |
Total liabilities and stockholders' equity (deficit) | $614,727 | $714,897 | $33,415 | $748,312 |
Restatement_of_Condensed_Conso4
Restatement of Condensed Consolidated Financial Statements - Summary of Adjustments to Previously Issued Consolidated Statements of Comprehensive Income (Detail) (USD $) | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended |
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 |
Non-affiliates [Member] | Non-affiliates [Member] | Affiliates [Member] | Affiliates [Member] | Scenario, Previously Reported [Member] | Scenario, Previously Reported [Member] | Scenario, Previously Reported [Member] | Scenario, Previously Reported [Member] | Scenario, Adjustment [Member] | Scenario, Adjustment [Member] | Scenario, Adjustment [Member] | Scenario, Adjustment [Member] | Scenario, Adjustment [Member] | Scenario, Adjustment [Member] | Restated [Member] | Restated [Member] | Restated [Member] | Restated [Member] | Restated [Member] | Restated [Member] | |||
Non-affiliates [Member] | Non-affiliates [Member] | Non-affiliates [Member] | Non-affiliates [Member] | Affiliates [Member] | Affiliates [Member] | Non-affiliates [Member] | Non-affiliates [Member] | Affiliates [Member] | Affiliates [Member] | |||||||||||||
Condensed Income Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating revenues, non-affiliates | $96,658 | $272,613 | ' | ' | ' | ' | $83,841 | $272,657 | ' | ' | ($1,414) | ($1,535) | ' | ' | ' | ' | $82,427 | $271,122 | ' | ' | ' | ' |
Operating revenues, affiliates | 92 | 96 | ' | ' | ' | ' | ' | ' | ' | ' | 1,414 | 1,535 | ' | ' | ' | ' | 1,414 | 1,535 | ' | ' | ' | ' |
Cost of services and sales | ' | ' | 36,277 | 111,409 | 69 | 193 | ' | ' | 44,720 | 117,371 | ' | ' | -11,642 | -11,959 | 11,642 | 11,959 | ' | ' | 33,078 | 105,412 | 11,642 | 11,959 |
(Gain) loss on disposal of assets, net | -2,559 | -2,140 | ' | ' | ' | ' | -132,109 | -131,483 | ' | ' | -74,894 | -74,894 | ' | ' | ' | ' | -207,003 | -206,377 | ' | ' | ' | ' |
AWN excess distribution | ' | ' | ' | ' | ' | ' | -2,867 | -2,867 | ' | ' | 2,867 | 2,867 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total operating expenses (income) | 72,111 | 228,243 | ' | ' | ' | ' | -59,855 | 91,968 | ' | ' | -72,027 | -72,027 | ' | ' | ' | ' | -131,882 | 19,941 | ' | ' | ' | ' |
Operating income | 24,639 | 44,466 | ' | ' | ' | ' | 143,696 | 180,689 | ' | ' | 72,027 | 72,027 | ' | ' | ' | ' | 215,723 | 252,716 | ' | ' | ' | ' |
Income before income tax expense | 14,380 | 14,971 | ' | ' | ' | ' | 131,836 | 148,373 | ' | ' | 72,027 | 72,027 | ' | ' | ' | ' | 203,863 | 220,400 | ' | ' | ' | ' |
Income tax expense | -6,136 | -6,385 | ' | ' | ' | ' | -54,238 | -29,613 | ' | ' | -29,718 | -29,718 | ' | ' | ' | ' | -83,956 | -59,331 | ' | ' | ' | ' |
Net income | 8,244 | 8,586 | ' | ' | ' | ' | 77,598 | 118,760 | ' | ' | 42,309 | 42,309 | ' | ' | ' | ' | 119,907 | 161,069 | ' | ' | ' | ' |
Total comprehensive income | $8,546 | $7,603 | ' | ' | ' | ' | $78,513 | $121,057 | ' | ' | $42,309 | $42,309 | ' | ' | ' | ' | $120,822 | $163,366 | ' | ' | ' | ' |
Net income per share: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Basic | $0.18 | $0.19 | ' | ' | ' | ' | $1.65 | $2.55 | ' | ' | $0.89 | $0.91 | ' | ' | ' | ' | $2.54 | $3.46 | ' | ' | ' | ' |
Diluted | $0.17 | $0.19 | ' | ' | ' | ' | $1.33 | $2.09 | ' | ' | $0.72 | $0.72 | ' | ' | ' | ' | $2.05 | $2.81 | ' | ' | ' | ' |
Restatement_of_Condensed_Conso5
Restatement of Condensed Consolidated Financial Statements - Summary of Adjustments To Previously Issued Consolidated Statements of Cash Flows (Detail) (USD $) | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 |
Scenario, Previously Reported [Member] | Scenario, Previously Reported [Member] | Scenario, Adjustment [Member] | Scenario, Adjustment [Member] | Restated [Member] | |||
Cash Flows from Operating Activities: | ' | ' | ' | ' | ' | ' | ' |
Net income | ' | $8,586 | $77,598 | $118,760 | $42,309 | $42,309 | $161,069 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' | ' | ' | ' | ' | ' |
Gain on sale/contribution of asset to AWN | -207,318 | ' | ' | -132,424 | ' | -74,894 | -207,318 |
AWN excess distribution | ' | ' | -2,867 | -2,867 | 2,867 | 2,867 | ' |
Deferred income taxes | ' | 6,385 | ' | 29,015 | ' | 29,718 | 58,733 |
Other non-cash expense, net | ' | -2,042 | ' | -1,710 | ' | 2,867 | 1,157 |
Net cash provided by operating activities | ' | 56,210 | ' | 56,741 | ' | 2,867 | 59,608 |
Cash Flows from Investing Activities: | ' | ' | ' | ' | ' | ' | ' |
AWN excess distribution | ' | ' | ' | 2,867 | ' | -2,867 | ' |
Net cash provided (used) by investing activities | ' | ($41,511) | ' | $77,818 | ' | ($2,867) | $74,951 |
Equity_Method_Investments_Rest2
Equity Method Investments (Restated) - Additional Information (Detail) (USD $) | 1 Months Ended | 3 Months Ended | 9 Months Ended | 1 Months Ended | 9 Months Ended | 1 Months Ended | 2 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | ||||||
In Thousands, unless otherwise specified | Jul. 19, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Jul. 22, 2013 | Jul. 22, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 |
Subsidiaries | 2010 Senior Credit Facility Term Loan Due 2016 [Member] | GCI Member [Member] | ACS Member [Member] | Interest Rate Swaps [Member] | TekMate, LLC [Member] | Alaska Wireless Network, LLC [Member] | Alaska Wireless Network, LLC [Member] | Alaska Wireless Network, LLC [Member] | Alaska Wireless Network, LLC [Member] | GCI Member [Member] | ||||||
Schedule Of Results Related To Equity Accounted Investees [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage ownership interest in equity method investment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 49.00% | 33.00% | 33.00% | 33.00% | 33.00% | ' |
Interest in equity method investees' income(loss) | ' | ' | $45 | ' | $45 | ' | ' | ' | ' | ' | $3 | ' | ' | ' | ' | ' |
Undistributed earnings | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' | ' |
Number of subsidiaries under Contribution Agreement | ' | ' | ' | ' | ' | 2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage ownership owned by subsidiaries in AWN | ' | ' | ' | ' | ' | ' | ' | 66.67% | 33.33% | ' | ' | ' | ' | ' | ' | ' |
Cash payments to purchased assets | ' | ' | ' | 100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Representation of GCI on AWN Board | ' | ' | ' | 'Representation of one of three seats on AWN's Board | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating agreement, Cumulative annual distribution in each of first eight quarters | ' | 12,500 | ' | 12,500 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating agreement, Cumulative annual distribution in second eight quarters | ' | 11,250 | ' | 11,250 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Aggregate adjustment capped | ' | 21,800 | ' | 21,800 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Estimated fair value | ' | 266,000 | ' | 266,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Carrying value of wireless switching and transmission equipment | ' | 87,542 | ' | 87,542 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Deferred revenue expected recognition period | ' | ' | ' | '20 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Gain on sale of assets | ' | ' | ' | 207,318 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 83,200 | ' | 207,318 |
Interest in equity method investees' adjusted free cash flow | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,167 | 5,389 | ' | 9,556 | ' |
Excess of ACS's investment over the Company's share of net assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 47,278 | 47,278 | 47,278 | 47,278 | ' |
Equity-method goodwill percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 54.90% | ' |
Principal payment on the term loan | ' | ' | ' | ' | ' | ' | 65,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Termination of floating-to-fixed interest rate swaps | ' | ' | ' | ' | ' | ' | ' | ' | ' | 192,500 | ' | ' | ' | ' | ' | ' |
Notional amount of floating-to-fixed interest rate swaps | ' | ' | ' | ' | ' | ' | ' | ' | ' | 385,000 | ' | ' | ' | ' | ' | ' |
Termination charges | ' | 4,073 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accumulated other comprehensive loss, amount of reclassification | $707 | $707 | ' | $1,507 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Equity_Method_Investments_Rest3
Equity Method Investments (Restated) - Schedule of Company's Ownership Interest and Investment in TekMate and AWN (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Schedule Of Results Related To Equity Accounted Investees [Line Items] | ' | ' |
Equity method investment | ' | $2,028 |
Restated [Member] | ' | ' |
Schedule Of Results Related To Equity Accounted Investees [Line Items] | ' | ' |
Equity method investment | 270,699 | ' |
TekMate, LLC [Member] | ' | ' |
Schedule Of Results Related To Equity Accounted Investees [Line Items] | ' | ' |
Percentage ownership interest in equity method investment | 49.00% | ' |
Equity method investment | ' | 2,028 |
TekMate, LLC [Member] | Restated [Member] | ' | ' |
Schedule Of Results Related To Equity Accounted Investees [Line Items] | ' | ' |
Equity method investment | 2,024 | ' |
Alaska Wireless Network, LLC [Member] | ' | ' |
Schedule Of Results Related To Equity Accounted Investees [Line Items] | ' | ' |
Percentage ownership interest in equity method investment | 33.00% | ' |
Alaska Wireless Network, LLC [Member] | Restated [Member] | ' | ' |
Schedule Of Results Related To Equity Accounted Investees [Line Items] | ' | ' |
Equity method investment | 268,675 | ' |
Equity_Method_Investments_Rest4
Equity Method Investments (Restated) - Components of Gain on Sale of Assets (Detail) (USD $) | 9 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2013 |
Consideration received: | ' |
Investment | $266,000 |
Cash | 100,000 |
Total consideration received | 366,000 |
Consideration provided | ' |
Net intangible and tangible assets | -90,500 |
Deferred AWN Capacity Revenue | -68,182 |
Total consideration provided | -158,682 |
Gain on disposal of assets | $207,318 |
Equity_Method_Investments_Rest5
Equity Method Investments (Restated) - Condensed Financial Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2012 | Sep. 30, 2012 | Dec. 31, 2012 | Sep. 30, 2013 |
Alaska Wireless Network, LLC [Member] | ||||
Schedule Of Results Related To Equity Accounted Investees [Line Items] | ' | ' | ' | ' |
Current Assets | ' | ' | $85,753 | $76,857 |
Non-Current Assets | ' | ' | ' | 530,908 |
Current Liabilities | ' | ' | 86,976 | 26,136 |
Non-Current Liabilities | ' | ' | ' | 43,190 |
Equity | ' | ' | -34,683 | 631,382 |
Operating Revenues | 96,750 | 272,709 | ' | 58,826 |
Gross Profit | ' | ' | ' | 36,568 |
Operating income | 24,639 | 44,466 | ' | 25,333 |
Net income | 8,244 | 8,586 | ' | 25,259 |
Adjusted Free Cash Flow | ' | ' | ' | $20,068 |
Fair_Value_Measurements_Restat2
Fair Value Measurements (Restated) - Additional Information (Detail) (USD $) | 1 Months Ended | 3 Months Ended | 9 Months Ended | |||
In Thousands, unless otherwise specified | Aug. 31, 2013 | Jul. 19, 2013 | Nov. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 |
Swap | ||||||
Fair Value Assets Liabilities Quantitative Information [Line Items] | ' | ' | ' | ' | ' | ' |
Long-term obligations | ' | ' | ' | $457,647 | $457,647 | $555,400 |
Estimated fair value | ' | ' | ' | 266,000 | 266,000 | ' |
Contribution to network usage rights | ' | ' | ' | 68,182 | 68,182 | ' |
Deferred revenue expected recognition period | ' | ' | ' | ' | '20 years | ' |
Notional amounts of floating-to-fixed interest rate swaps | ' | ' | ' | ' | 192,500 | ' |
Notional amounts of floating-to-fixed interest rate swaps, one | ' | ' | 115,500 | ' | 115,500 | ' |
Notional amounts of floating-to-fixed interest rate swaps, two | ' | ' | 77,000 | ' | 77,000 | ' |
Interest rate of floating-to-fixed interest rate swaps | ' | ' | ' | 6.96% | 6.96% | ' |
Interest rate of floating-to-fixed interest rate swaps, one | ' | ' | 7.22% | 6.97% | 6.97% | ' |
Interest rate of floating-to-fixed interest rate swaps, two | ' | ' | 7.23% | 6.98% | 6.98% | ' |
LIBOR Spread | ' | ' | 4.75% | 4.50% | 4.50% | ' |
Commencing swap date | ' | ' | ' | ' | 30-Jun-12 | ' |
Expiry date | ' | ' | ' | ' | 30-Sep-15 | ' |
Number of floating-to-fixed interest rate swaps | ' | ' | ' | ' | 3 | ' |
Credit Facility, as a result of the potential increment | ' | ' | ' | 65,000 | 65,000 | ' |
Swap settled in cash | 4,073 | ' | ' | ' | ' | ' |
Accumulated other comprehensive loss, amount of reclassification | ' | 707 | ' | 707 | 1,507 | ' |
Marked-to-market resulted in an adjustment to interest expense | 231 | ' | ' | ' | ' | ' |
Auction Rate Securities [Member] | Estimated Value [Member] | ' | ' | ' | ' | ' | ' |
Fair Value Assets Liabilities Quantitative Information [Line Items] | ' | ' | ' | ' | ' | ' |
Fair value of long-term obligations | ' | ' | ' | 438,756 | 438,756 | ' |
Auction Rate Securities [Member] | Carrying Values [Member] | ' | ' | ' | ' | ' | ' |
Fair Value Assets Liabilities Quantitative Information [Line Items] | ' | ' | ' | ' | ' | ' |
Long-term obligations | ' | ' | ' | $457,647 | $457,647 | ' |
Fair_Value_Measurements_Restat3
Fair Value Measurements (Restated) - Balances of Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) (Interest Rate Swaps [Member], USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items] | ' | ' |
Other long-term liabilities Interest rate swaps | ($3,619) | ($9,819) |
Quoted Prices in Active Markets for Identical Assets Level 1 [Member] | ' | ' |
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items] | ' | ' |
Other long-term liabilities Interest rate swaps | ' | ' |
Significant Other Observable Inputs Level 2 [Member] | ' | ' |
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items] | ' | ' |
Other long-term liabilities Interest rate swaps | -3,619 | -9,819 |
Level 3 Unobservable Inputs [Member] | ' | ' |
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items] | ' | ' |
Other long-term liabilities Interest rate swaps | ' | ' |
Fair_Value_Measurements_Restat4
Fair Value Measurements (Restated) - Schedule of Valuation Techniques to Measure Fair Value of Instruments and Significant Unobservable Inputs and Values (Detail) (USD $) | 9 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2013 |
Fair Value Liabilities Measured On Recurring and Nonrecurring Basis [Line Items] | ' |
Estimated fair value | $266,000 |
Discounted Cash Flow [Member] | Investment in AWN [Member] | ' |
Fair Value Liabilities Measured On Recurring and Nonrecurring Basis [Line Items] | ' |
Estimated fair value | 266,000 |
Valuation Technique | 'Discounted Cash Flow |
Discounted Cash Flow [Member] | Investment in AWN [Member] | Weighted Average Cost of Capital [Member] | Minimum [Member] | ' |
Fair Value Liabilities Measured On Recurring and Nonrecurring Basis [Line Items] | ' |
Significant Input Values, rate | 7.80% |
Discounted Cash Flow [Member] | Investment in AWN [Member] | Weighted Average Cost of Capital [Member] | Maximum [Member] | ' |
Fair Value Liabilities Measured On Recurring and Nonrecurring Basis [Line Items] | ' |
Significant Input Values, rate | 11.50% |
Discounted Cash Flow [Member] | Investment in AWN [Member] | Annual cash flow projections [Member] | Minimum [Member] | ' |
Fair Value Liabilities Measured On Recurring and Nonrecurring Basis [Line Items] | ' |
Significant Input Values, amount | 50,000 |
Discounted Cash Flow [Member] | Investment in AWN [Member] | Annual cash flow projections [Member] | Maximum [Member] | ' |
Fair Value Liabilities Measured On Recurring and Nonrecurring Basis [Line Items] | ' |
Significant Input Values, amount | 65,000 |
Discounted Cash Flow [Member] | Investment in AWN [Member] | Non-controlling interest discount [Member] | ' |
Fair Value Liabilities Measured On Recurring and Nonrecurring Basis [Line Items] | ' |
Significant Input Values, rate | 0.00% |
Cost / Replacement Value [Member] | Deferred AWN Capacity Revenue [Member] | ' |
Fair Value Liabilities Measured On Recurring and Nonrecurring Basis [Line Items] | ' |
Estimated fair value | $68,182 |
Valuation Technique | 'Cost / Replacement Value |
Cost / Replacement Value [Member] | Deferred AWN Capacity Revenue [Member] | Weighted Average Cost of Capital [Member] | ' |
Fair Value Liabilities Measured On Recurring and Nonrecurring Basis [Line Items] | ' |
Significant Input Values, rate | 11.50% |
Cost / Replacement Value [Member] | Deferred AWN Capacity Revenue [Member] | Cost trend factor [Member] | Minimum [Member] | ' |
Fair Value Liabilities Measured On Recurring and Nonrecurring Basis [Line Items] | ' |
Significant Input Values, rate | 1.00% |
Cost / Replacement Value [Member] | Deferred AWN Capacity Revenue [Member] | Cost trend factor [Member] | Maximum [Member] | ' |
Fair Value Liabilities Measured On Recurring and Nonrecurring Basis [Line Items] | ' |
Significant Input Values, rate | 2.17% |
Cost / Replacement Value [Member] | Deferred AWN Capacity Revenue [Member] | Estimated % used by AWN [Member] | Minimum [Member] | ' |
Fair Value Liabilities Measured On Recurring and Nonrecurring Basis [Line Items] | ' |
Significant Input Values, rate | 4.00% |
Cost / Replacement Value [Member] | Deferred AWN Capacity Revenue [Member] | Estimated % used by AWN [Member] | Maximum [Member] | ' |
Fair Value Liabilities Measured On Recurring and Nonrecurring Basis [Line Items] | ' |
Significant Input Values, rate | 100.00% |
Cost / Replacement Value [Member] | Deferred AWN Capacity Revenue [Member] | Historical cost of underlying assets [Member] | ' |
Fair Value Liabilities Measured On Recurring and Nonrecurring Basis [Line Items] | ' |
Historical Cost of underlying assets | 'Actual cost |
Fair_Value_Measurements_Restat5
Fair Value Measurements (Restated) - Schedule of Floating-to-Fixed Interest Rate Swap (Detail) (USD $) | 1 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended |
In Thousands, unless otherwise specified | Aug. 31, 2013 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2013 |
Reclassification out of Accumulated Other Comprehensive Income (Loss) [Member] | Reclassification out of Accumulated Other Comprehensive Income (Loss) [Member] | ||||
Interest Rate Swaps [Member] | Interest Rate Swaps [Member] | ||||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ' | ' | ' | ' | ' |
Reclassified from accumulated other comprehensive loss to interest expense | ' | ($10,268) | ($29,203) | ($1,082) | ($1,948) |
Change in fair value credited to interest expense | 231 | ' | ' | -231 | 785 |
Estimated amount of accumulated other comprehensive loss to be reclassified to interest expense within the next twelve months | ' | ' | ' | ($1,424) | ($1,424) |
LongTerm_Obligations_Schedule_
Long-Term Obligations - Schedule of Long-Term Obligations (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Long Term Debt Current And Noncurrent [Line Items] | ' | ' |
Long-term obligations | $457,647 | $555,400 |
Less current portion | -12,865 | -21,628 |
Long-term obligations, net of current portion | 444,782 | 533,772 |
2010 Senior Credit Facility Term Loan Due 2016 [Member] | ' | ' |
Long Term Debt Current And Noncurrent [Line Items] | ' | ' |
Long-term obligations | 347,725 | 431,200 |
Debt instrument unamortized discount | -1,838 | -2,796 |
6.25% Convertible Notes Due 2018 [Member] | ' | ' |
Long Term Debt Current And Noncurrent [Line Items] | ' | ' |
Long-term obligations | 114,000 | 120,000 |
Debt instrument unamortized discount | -9,666 | -11,602 |
5.75% Convertible Notes Due 2013 [Member] | ' | ' |
Long Term Debt Current And Noncurrent [Line Items] | ' | ' |
Long-term obligations | ' | 12,980 |
Debt instrument unamortized discount | ' | -114 |
Revolving Credit Facility Loan [Member] | ' | ' |
Long Term Debt Current And Noncurrent [Line Items] | ' | ' |
Revolving credit facility loan | ' | ' |
Capital Leases and Other Long-Term Obligations [Member] | ' | ' |
Long Term Debt Current And Noncurrent [Line Items] | ' | ' |
Long-term obligations | $7,426 | $5,732 |
LongTerm_Obligations_Schedule_1
Long-Term Obligations - Schedule of Long-Term Obligations (Parenthetical) (Detail) | 1 Months Ended | 9 Months Ended |
Aug. 29, 2013 | Sep. 30, 2013 | |
2010 Senior Credit Facility Term Loan Due 2016 [Member] | ' | ' |
Long Term Debt Current And Noncurrent [Line Items] | ' | ' |
Maturity year of senior credit facility term loan - start | ' | '2010 |
Maturity year of senior credit facility term loan - end | ' | '2016 |
6.25% Convertible Notes Due 2018 [Member] | ' | ' |
Long Term Debt Current And Noncurrent [Line Items] | ' | ' |
Interest rate of convertible notes | 6.25% | 6.25% |
Maturity year of convertible notes | '2018 | '2018 |
5.75% Convertible Notes Due 2013 [Member] | ' | ' |
Long Term Debt Current And Noncurrent [Line Items] | ' | ' |
Interest rate of convertible notes | ' | 5.75% |
Maturity year of convertible notes | ' | '2013 |
LongTerm_Obligations_Additiona
Long-Term Obligations - Additional Information (Detail) (USD $) | Sep. 10, 2013 | Aug. 29, 2013 | Dec. 31, 2012 | Jul. 22, 2013 | Sep. 10, 2013 | Aug. 29, 2013 | Sep. 30, 2013 | Jul. 22, 2013 |
In Thousands, unless otherwise specified | 2010 Senior Credit Facility Term Loan Due 2016 [Member] | 6.25% Convertible Notes Due 2018 [Member] | 6.25% Convertible Notes Due 2018 [Member] | 6.25% Convertible Notes Due 2018 [Member] | Maximum [Member] | |||
Board of Directors [Member] | ||||||||
Proforma Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Principal payment on the term loan | ' | ' | ' | $65,000 | $3,500 | $2,500 | ' | ' |
Common shares issued | 1,203 | 698 | 45,765 | ' | ' | ' | ' | ' |
Interest rate of convertible notes | ' | ' | ' | ' | ' | 6.25% | 6.25% | ' |
Maturity year of convertible notes | ' | ' | ' | ' | ' | '2018 | '2018 | ' |
Authorized to issue common shares, percentage | ' | ' | ' | ' | ' | ' | ' | 10.00% |
Common stock, shares authorized | ' | ' | 145,000 | ' | ' | ' | ' | 4,700 |
LongTerm_Obligations_Aggregate
Long-Term Obligations - Aggregate Maturities of Long-Term Obligations for Each of Five Years and Thereafter (Detail) (USD $) | Sep. 30, 2013 |
In Thousands, unless otherwise specified | |
Debt Disclosure [Abstract] | ' |
2013 (October 1 - December 31) | $2,183 |
2014 (January 1 - December 31) | 14,253 |
2015 (January 1 - December 31) | 15,361 |
2016 (January 1 - December 31) | 318,730 |
2017 (January 1 - December 31) | 437 |
2018 (January 1 - December 31) | 114,288 |
Thereafter | 3,899 |
Total | $469,151 |
Accumulated_Other_Comprehensiv2
Accumulated Other Comprehensive Loss - Summary of Activity in Accumulated Other Comprehensive Loss (Detail) (USD $) | 1 Months Ended | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Jul. 19, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ' | ' |
Balance, December 31, 2012 | ' | ' | ' | ($9,239) | ' |
Other comprehensive income before reclassifications | ' | ' | ' | 790 | ' |
Reclassifications from accumulated comprehensive loss to net income | 707 | 707 | ' | 1,507 | ' |
Total other comprehensive income (loss) | ' | ' | 302 | 2,297 | -983 |
Balance, September 30, 2013 | ' | -6,942 | ' | -6,942 | ' |
Defined Benefit Pension Plans [Member] | ' | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ' | ' |
Balance, December 31, 2012 | ' | ' | ' | -3,491 | ' |
Reclassifications from accumulated comprehensive loss to net income | ' | ' | ' | 360 | ' |
Total other comprehensive income (loss) | ' | ' | ' | 360 | ' |
Balance, September 30, 2013 | ' | -3,131 | ' | -3,131 | ' |
Interest Rate Swaps [Member] | ' | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ' | ' |
Balance, December 31, 2012 | ' | ' | ' | -5,748 | ' |
Other comprehensive income before reclassifications | ' | ' | ' | 790 | ' |
Reclassifications from accumulated comprehensive loss to net income | ' | ' | ' | 1,147 | ' |
Total other comprehensive income (loss) | ' | ' | ' | 1,937 | ' |
Balance, September 30, 2013 | ' | ($3,811) | ' | ($3,811) | ' |
Accumulated_Other_Comprehensiv3
Accumulated Other Comprehensive Loss - Summary of Reclassifications from Accumulated Other Comprehensive Loss to Net Income (Detail) (USD $) | 3 Months Ended | 9 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2013 |
Amortization of defined benefit plan pension items | ' | ' |
Amortization of loss | $205 | $612 |
Income tax effect | -84 | -252 |
After tax | 121 | 360 |
Amortization of loss on ineffective interest rate swap | ' | ' |
Reclassification to interest expense | 1,082 | 1,948 |
Income tax effect | -445 | -801 |
After tax | 637 | 1,147 |
Total reclassifications net of income tax | $758 | $1,507 |
Stock_Incentive_Plans_Summary_
Stock Incentive Plans - Summary of Activity for SSARs and Stock Options (Detail) (USD $) | 9 Months Ended |
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2013 |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' |
Number of Shares - Outstanding at December 31, 2012 | 311 |
Number of Shares - Granted | ' |
Number of Shares - Exercised | ' |
Number of Shares - Canceled or expired | -12 |
Number of Shares - Outstanding at September 30, 2013 | 299 |
Number of Shares - Exercisable at September 30, 2013 | 299 |
Weighted Average Exercise Price - Outstanding at December 31, 2012 | $8.66 |
Weighted Average Exercise Price - Granted | ' |
Weighted Average Exercise Price - Exercised | ' |
Weighted Average Exercise Price - Canceled or expired | $5.36 |
Weighted Average Exercise Price - Outstanding at September 30, 2013 | $8.79 |
Weighted Average Exercise Price - Exercisable at September 30, 2013 | $8.79 |
Weighted Average Remaining Life - Outstanding at September 30, 2013 | '3 months 7 days |
Weighted Average Remaining Life - Exercisable at September 30, 2013 | '3 months 7 days |
Aggregate Intrinsic Value - Outstanding at September 30, 2013 | ' |
Aggregate Intrinsic Value - Exercisable at September 30, 2013 | ' |
Stock_Incentive_Plans_Summary_1
Stock Incentive Plans - Summary of Activity for Restricted Stock Unit, Long-Term Incentive Award and Non-Employee Director Stock Compensation (Detail) (Restricted Stock Units [Member], USD $) | 9 Months Ended |
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2013 |
Restricted Stock Units [Member] | ' |
Summary of activity for restricted stock units, long-term incentive awards and non-employee director stock compensation | ' |
Number of Shares - Nonvested at December 31, 2012 | 1,292 |
Number of Shares - Granted | 677 |
Number of Shares - Vested | -972 |
Number of Shares - Canceled or expired | -49 |
Number of Shares - Nonvested at September 30, 2013 | 948 |
Weighted Average Grant Date Fair Value - Nonvested at December 31, 2012 | $5.38 |
Weighted Average Grant Date Fair Value - Granted | $1.89 |
Weighted Average Grant Date Fair Value - Vested | $4.50 |
Weighted Average Grant Date Fair Value - Canceled or expired | $6.55 |
Weighted Average Grant Date Fair Value - Nonvested at September 30, 2013 | $3.67 |
Stock_Incentive_Plans_Summary_2
Stock Incentive Plans - Summary of Activity for Performance Share Units (Detail) (Performance Share Units [Member], USD $) | 9 Months Ended |
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2013 |
Performance Share Units [Member] | ' |
Summary of activity for performance share units | ' |
Number of Shares - Nonvested at December 31, 2012 | 764 |
Number of Shares - Granted | 843 |
Number of Shares - Vested | -282 |
Number of Shares - Canceled or expired | -130 |
Number of Shares - Nonvested at September 30, 2013 | 1,195 |
Weighted Average Grant Date Fair Value - Nonvested at December 31, 2012 | $4.09 |
Weighted Average Grant Date Fair Value - Granted | $1.65 |
Weighted Average Grant Date Fair Value - Vested | $2.67 |
Weighted Average Grant Date Fair Value - Canceled or expired | $1.96 |
Weighted Average Grant Date Fair Value - Nonvested at September 30, 2013 | $2.94 |
Stock_Incentive_Plans_Summary_3
Stock Incentive Plans - Summary of Assumptions Used for Valuation of Equity Instruments Granted (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | |
Restricted Stock [Member] | Restricted Stock [Member] | Restricted Stock [Member] | Restricted Stock [Member] | |||
Minimum [Member] | Maximum [Member] | |||||
Restricted stock: | ' | ' | ' | ' | ' | ' |
Risk free rate, Maximum | ' | ' | 0.18% | 0.21% | ' | ' |
Risk free rate, Minimum | ' | ' | 0.03% | 0.18% | ' | ' |
Quarterly dividend per share | $0.05 | $0.15 | ' | $0.05 | ' | ' |
Expected annual forfeiture rate | ' | ' | ' | 9.00% | 0.00% | 9.00% |
Stock_Incentive_Plans_ShareBas
Stock Incentive Plans - Share-Based Compensation (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ' | ' | ' |
Total compensation cost for share-based payments | $550 | $969 | $2,268 | $2,662 |
Weighted average grant-date fair value of equity instruments granted (per share) | $2.57 | $2.25 | $1.76 | $2.68 |
Total fair value of shares vested during the period | 111 | 100 | 4,823 | 2,534 |
Total intrinsic value of options exercised | ' | ' | ' | ' |
Unamortized share-based payments | $2,132 | $2,839 | $2,132 | $2,839 |
Weighted average period (in years) to be recognized as expense | '1 year 10 months 24 days | '1 year 3 months 18 days | '1 year 10 months 24 days | '1 year 3 months 18 days |
Earnings_Per_Share_Restated_Ad
Earnings Per Share (Restated) - Additional Information (Detail) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Employee Stock Option [Member] | Stock Appreciation Rights (SARs) [Member] | |
Earnings Per Share Basic And Diluted [Line Items] | ' | ' |
Anti-dilutive shares excluded from calculation | 299 | 311 |
Earnings_Per_Share_Restated_Ca
Earnings Per Share (Restated) - Calculation of Basic and Diluted Earnings Per Share (Detail) (USD $) | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended |
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2013 |
Restated [Member] | Restated [Member] | |||
Schedule Of Earnings Per Share Basic And Diluted [Line Items] | ' | ' | ' | ' |
Net income (loss) applicable to common shares | $8,244 | $8,586 | $119,907 | $161,069 |
Tax-effected interest expense attributable to convertible notes | 1,808 | ' | 1,485 | 4,409 |
Net income assuming dilution | $10,052 | $8,586 | $121,392 | $165,478 |
Weighted average common shares outstanding: | ' | ' | ' | ' |
Basic shares | 45,664 | 45,511 | 47,159 | 46,592 |
Effect of stock-based compensation | 422 | 295 | 674 | 605 |
Effect of convertible notes | 13,351 | ' | 11,513 | 11,619 |
Diluted shares | 59,437 | 45,806 | 59,346 | 58,816 |
Earnings (loss) per share: | ' | ' | ' | ' |
Basic | $0.18 | $0.19 | $2.54 | $3.46 |
Diluted | $0.17 | $0.19 | $2.05 | $2.81 |
Retirement_Plans_Summary_of_Ne
Retirement Plans - Summary of Net Periodic Pension Expense for ACS Retirement Plan (Detail) (ACS Retirement Plan [Member], USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
ACS Retirement Plan [Member] | ' | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' |
Interest cost | $160 | $179 | $480 | $466 |
Expected return on plan assets | -180 | -174 | -541 | -440 |
Amortization of loss | 205 | 199 | 612 | 532 |
Net periodic pension expense | $185 | $204 | $551 | $558 |
Commitments_and_Contingencies_
Commitments and Contingencies - Additional Information (Detail) (USD $) | 9 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2013 |
Commitments And Contingencies Disclosure [Abstract] | ' |
Capital expenditure obligation | $5,000 |
Litigation reserve | $925 |