Description of Company and Summary of Significant Accounting Policies | 3 Months Ended |
Mar. 31, 2014 |
Accounting Policies [Abstract] | ' |
Description of Company and Summary of Significant Accounting Policies | ' |
1 | DESCRIPTION OF COMPANY AND SUMMARY 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: |
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• Alaska Communications Systems | | • Crest Communications Corporation (“Crest”) |
Holdings, Inc. (“ACS Holdings”) | | |
| • WCI Cable, Inc. |
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• ACS of Alaska, LLC (“ACSAK”) | | • WCIC Hillsboro, LLC. |
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• ACS of the Northland, LLC (“ACSN”) | | • Alaska Northstar Communications, LLC. |
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• ACS of Fairbanks, LLC (“ACSF”) | | • WCI Lightpoint, LLC. |
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• ACS of Anchorage, LLC (“ACSA”) | | • Worldnet Communications, Inc. |
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• ACS Wireless, Inc. (“ACSW”) | | • Alaska Fiber Star, LLC. |
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• ACS Long Distance, LLC (“ACSLD”) | | • TekMate, LLC |
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• ACS Internet, LLC (“ACSI”) | | |
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• ACS Messaging, Inc. (“ACSM”) | | |
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• ACS Cable Systems, LLC (“ACSC”) | | |
In addition to the wholly owned subsidiaries, the Company has a one-third interest in Alaska Wireless Network, LLC (“AWN”) which is represented in the Company’s condensed consolidated financial statements as an equity method investment. The Company acquired a 49% interest in TekMate, LLC (“TekMate”), a leading managed information technology (“IT”) services firm in Alaska, on August 31, 2010; on January 31, 2014, the Company purchased the remaining 51% interest in TekMate. The Company believes this acquisition will further strengthen our capabilities to provide integrated IT and network managed services to our customers. TekMate is now a wholly owned subsidiary. |
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, 2013. 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 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 months ended March 31, 2014, 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, 2013 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. Certain reclassifications have been made to the prior years’ financial statements to conform to the current year presentation. These reclassifications had no effect on previously reported results of operations, balance sheet amounts, or cash flows. |
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. |