Document_and_Entity_Informatio
Document and Entity Information | 3 Months Ended | |
Mar. 31, 2015 | Apr. 20, 2015 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | FALSE | |
Document Period End Date | 31-Mar-15 | |
Document Fiscal Year Focus | 2015 | |
Document Fiscal Period Focus | Q1 | |
Trading Symbol | ALSK | |
Entity Registrant Name | ALASKA COMMUNICATIONS SYSTEMS GROUP INC | |
Entity Central Index Key | 1089511 | |
Current Fiscal Year End Date | -19 | |
Entity Filer Category | Accelerated Filer | |
Entity Common Stock, Shares Outstanding | 50,238,893 |
Condensed_Consolidated_Balance
Condensed Consolidated Balance Sheets (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
Current assets: | ||
Cash and cash equivalents | $57,827,000 | $31,709,000 |
Restricted cash | 9,467,000 | 467,000 |
Accounts receivable, net | 28,552,000 | 30,900,000 |
Materials and supplies | 4,687,000 | 4,321,000 |
Prepayments and other current assets | 7,939,000 | 6,575,000 |
Deferred income taxes | 13,071,000 | 104,245,000 |
Current assets held-for-sale | 9,565,000 | |
Total current assets | 121,543,000 | 187,782,000 |
Property, plant and equipment | 1,321,745,000 | 1,333,134,000 |
Less: accumulated depreciation and amortization | 969,549,000 | 976,401,000 |
Property, plant and equipment, net | 352,196,000 | 356,733,000 |
Debt issuance costs | 2,212,000 | 4,469,000 |
Deferred income taxes | 12,157,000 | |
Equity method investments | 0 | 252,067,000 |
Non-current assets held-for-sale | 2,523,000 | 14,664,000 |
Other assets | 253,000 | 301,000 |
Total assets | 490,884,000 | 816,016,000 |
Current liabilities: | ||
Current portion of long-term obligations | 4,384,000 | 15,521,000 |
Accounts payable, accrued and other current liabilities, non-affiliates | 75,873,000 | 54,373,000 |
Accounts payable, accrued and other current liabilities, affiliates, net | 4,853,000 | |
Advance billings and customer deposits | 4,672,000 | 4,490,000 |
Current liabilities held-for-sale | 299,000 | 18,728,000 |
Total current liabilities | 85,228,000 | 97,965,000 |
Long-term obligations, net of current portion | 188,358,000 | 418,447,000 |
Deferred income taxes | 81,267,000 | |
Other long-term liabilities | 22,739,000 | 24,370,000 |
Non-current liabilities held-for-sale | 2,050,000 | 2,107,000 |
Deferred GCI/AWN capacity revenue, net of current portion | 38,893,000 | 56,734,000 |
Total liabilities | 337,268,000 | 680,890,000 |
Commitments and contingencies | ||
Stockholders' equity (deficit): | ||
Common stock, $.01 par value; 145,000 authorized; 50,236 issued and outstanding at March 31, 2015; 49,660 issued and outstanding at December 31, 2014 | 503,000 | 497,000 |
Additional paid in capital | 155,190,000 | 154,368,000 |
Accumulated earnings (deficit) | 1,629,000 | -14,588,000 |
Accumulated other comprehensive loss | -3,706,000 | -5,151,000 |
Total stockholders' equity | 153,616,000 | 135,126,000 |
Total liabilities and stockholders' equity | $490,884,000 | $816,016,000 |
Condensed_Consolidated_Balance1
Condensed Consolidated Balance Sheets (Parenthetical) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, except Per Share data, unless otherwise specified | ||
Statement of Financial Position [Abstract] | ||
Common stock, par value | $0.01 | $0.01 |
Common stock, shares authorized | 145,000 | 145,000 |
Common stock, shares issued | 50,236 | 49,660 |
Common stock, shares outstanding | 50,236 | 49,660 |
Condensed_Consolidated_Stateme
Condensed Consolidated Statements of Comprehensive Income (USD $) | 3 Months Ended | |
In Thousands, except Per Share data, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Operating revenues: | ||
Operating revenues, non-affiliates | $65,211 | $76,545 |
Operating revenues, affiliates | 575 | 1,786 |
Total operating revenues | 65,786 | 78,331 |
Operating expenses: | ||
Cost of services and sales, non-affiliates | 26,305 | 30,058 |
Cost of services and sales, affiliates | 4,961 | 14,760 |
Selling, general and administrative | 27,984 | 24,595 |
Depreciation and amortization | 8,941 | 8,790 |
(Gain) loss on disposal of assets, net | -38,662 | 401 |
Earnings from equity method investments | -3,056 | -8,523 |
Total operating expenses | 26,473 | 70,081 |
Operating income | 39,313 | 8,250 |
Other income and expense: | ||
Interest expense | -10,047 | -8,857 |
Interest income | 25 | 8 |
Total other income and expense | -10,022 | -8,849 |
Income (loss) before income tax (expense) benefit | 29,291 | -599 |
Income tax (expense) benefit | -13,074 | 214 |
Net income (loss) | 16,217 | -385 |
Other comprehensive income: | ||
Minimum pension liability adjustment | 21 | 20 |
Income tax effect | -9 | -9 |
Amortization of defined benefit plan loss | 273 | 184 |
Income tax effect | -112 | -76 |
Interest rate swap marked to fair value | 199 | 485 |
Income tax effect | -81 | -199 |
Reclassification of loss on ineffective hedge | 1,960 | 607 |
Income tax effect | -806 | -249 |
Total other comprehensive income | 1,445 | 763 |
Total comprehensive income | $17,662 | $378 |
Net income (loss) per share: | ||
Basic and diluted | $0.32 | ($0.01) |
Weighted average shares outstanding: | ||
Basic | 49,916 | 48,913 |
Diluted | 50,695 | 48,913 |
Condensed_Consolidated_Stateme1
Condensed Consolidated Statement of Stockholders' Equity (Deficit) (USD $) | Total | Common Stock [Member] | Additional Paid in Capital [Member] | Accumulated Earnings (Deficit) [Member] | Accumulated Other Comprehensive Loss [Member] |
In Thousands | |||||
Beginning Balance at Dec. 31, 2014 | $135,126 | $497 | $154,368 | ($14,588) | ($5,151) |
Beginning Balance, Shares at Dec. 31, 2014 | 49,660 | ||||
Total comprehensive income | 17,662 | 16,217 | 1,445 | ||
Stock compensation | 484 | 484 | |||
Excess tax benefit from share-based payments | 743 | 743 | |||
Surrender of shares to cover withholding taxes on stock-based compensation | -399 | -399 | |||
Issuance of common stock, pursuant to stock plans, $.01 par | 6 | -6 | |||
Issuance of common stock, pursuant to stock plans, $.01 par, Shares | 576 | ||||
Ending Balance at Mar. 31, 2015 | $153,616 | $503 | $155,190 | $1,629 | ($3,706) |
Ending Balance, Shares at Mar. 31, 2015 | 50,236 |
Condensed_Consolidated_Stateme2
Condensed Consolidated Statement of Stockholders' Equity (Deficit) (Parenthetical) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
Statement of Stockholders' Equity [Abstract] | ||
Common stock, par value | $0.01 | $0.01 |
Condensed_Consolidated_Stateme3
Condensed Consolidated Statements of Cash Flows (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Cash Flows from Operating Activities: | ||
Net income (loss) | $16,217 | ($385) |
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ||
Depreciation and amortization | 8,941 | 8,790 |
Loss on disposal of assets, net | 1,057 | 401 |
Gain on wireless sale | -39,719 | |
Unrealized gain on ineffective hedge | -267 | |
Amortization of debt issuance costs and debt discount | 3,681 | 1,398 |
Amortization of ineffective hedge | 1,960 | 607 |
Amortization of GCI/AWN deferred capacity revenue | -615 | -841 |
Stock-based compensation | 484 | 653 |
Deferred income tax benefit | -2,515 | -227 |
Provision for uncollectible accounts | 1,523 | 565 |
Cash distribution from equity method investments | 3,056 | 8,523 |
Earnings from equity method investments | -3,056 | -8,523 |
Other non-cash expense (income), net | 270 | -3 |
Income taxes payable | 13,612 | |
Changes in operating assets and liabilities | -2,505 | 2,868 |
Net cash provided by operating activities | 2,124 | 13,826 |
Cash Flows from Investing Activities: | ||
Capital expenditures | -5,900 | -7,164 |
Capitalized interest | -491 | -738 |
Change in unsettled capital expenditures | -4,443 | -7,186 |
Cash received in acquisition of business | 68 | |
Proceeds on wireless sale | 276,388 | |
Return of capital from equity investment | 1,875 | 4,010 |
Net cash provided (used) by investing activities | 267,429 | -11,010 |
Cash Flows from Financing Activities: | ||
Repayments of long-term debt | -241,718 | -13,354 |
Debt issuance costs | -1,027 | |
Cash paid in acquisition of business | -291 | |
Payment of withholding taxes on stock-based compensation | -399 | -581 |
Net cash used by financing activities | -243,435 | -13,935 |
Change in cash and cash equivalents | 26,118 | -11,119 |
Cash and cash equivalents, beginning of period | 31,709 | 43,039 |
Cash and cash equivalents, end of period | 57,827 | 31,920 |
Supplemental Cash Flow Data: | ||
Interest paid | 3,384 | 6,562 |
Income taxes paid | 1,977 | 13 |
Supplemental Non-cash Transactions: | ||
Property acquired under capital leases | 20 | 44 |
Additions to ARO asset | 3 | 214 |
Accrued acquisition purchase price | -291 | 1,086 |
Contingent sale proceeds held in escrow | 9,000 | |
Net change in restricted cash | ($9,000) |
Description_of_Company_and_Sum
Description of Company and Summary of Significant Accounting Policies | 3 Months Ended | ||
Mar. 31, 2015 | |||
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 broadband telecommunication and Managed information technology (“IT Managed”) services to customers in the State of Alaska and beyond using its 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 | • Crest Communications Corporation (“Crest”) | ||
• Holdings, Inc. (“ACS Holdings”) | • 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”) | • TekMate, LLC | ||
• ACS Internet, LLC (“ACSI”) | |||
• ACS Messaging, Inc. (“ACSM”) | |||
• ACS Cable Systems, LLC (“ACSC”) | |||
In addition to the wholly-owned subsidiaries, the Company owned a one-third interest in the Alaska Wireless Network, LLC (“AWN”) which is represented in the Company’s condensed consolidated financial statements as an equity method investment through February 1, 2015. On February 2, 2015, the Company sold this one-third interest in connection with the sale of its wireless operations. See Note 2 “Sale of Wireless Operations” 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, 2014. 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. Comprehensive income for the three months ended March 31, 2015, is 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, 2014 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 Issued Accounting Pronouncements | |||
In February 2015, the Financial Accounting Standards Board (“FASB”) issued ASU 2015-02, “Consolidation (Topic 810), Amendments to the Consolidation Analysis (“ASU 2015-02”). This update amends the analysis that a reporting entity must perform to determine whether it should consolidate certain types of legal entities. | |||
Specifically, the amendments: (i) modify the evaluation of whether limited partnerships and similar legal entities are variable interest entities or voting interest entities; (ii) eliminates the presumption that a general partner should consolidate a limited partnership; (iii) affects the consolidation analysis of reporting entities that are involved with variable interest entities, particularly those that have fee arrangements and related party relationships; and (iv) provides a scope exception from the consolidation guidance for reporting entities with interests in legal entities that are required to comply with or operate in accordance with requirements that are similar to those in Rule 2a-7 of the Investment Company Act of 1940 for registered money market funds. The provisions of ASU 2015-02 are effective for quarterly and annual reporting periods beginning after December 15, 2015. The Company is evaluating the effect that ASU 2015-02 will have on its consolidated financial statements and related disclosures. | |||
In April 2015, the FASB issued ASU 2015-03, “Interest – Imputation of Interest (Subtopic 835-30), Simplifying the Presentation of Debt Issuance Costs (“ASU 2015-03”). The amendments in ASU 2015-03 require that debt issuance costs related to a recognized debt liability be presented on the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. The recognition and measurement guidance for debt issuance costs are not affected by this update. The provisions of ASU 2015-03 are effective for financial statements issued for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years. The guidance in this ASU is to be applied on a retrospective basis. Early adoption is permitted. The Company is evaluating the effect that ASU 2015-03 will have on its consolidated financial statements and related disclosures. |
Sale_of_Wireless_Operations
Sale of Wireless Operations | 3 Months Ended | ||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||
Discontinued Operations and Disposal Groups [Abstract] | |||||||||||||||||
Sale of Wireless Operations | 2 | SALE OF WIRELESS OPERATIONS | |||||||||||||||
On December 4, 2014, the Company entered into a Purchase and Sale Agreement (the “Agreement”) to sell to General Communication, Inc (“GCI”), ACSW’s interest in AWN and substantially all the assets and subscribers related to the wireless business of ACS and its affiliates, as described below (the “Wireless Sale”). | |||||||||||||||||
Pursuant to the Agreement, ACS agreed to sell to GCI its interest in AWN and substantially all the assets and subscriber contracts of ACS and its affiliates related to ACS’s wireless business (the “Acquired Assets”) for a cash payment of $300,000, which amount was subject to adjustment for certain working capital assets and liabilities as well as minimum subscriber levels and preferred distributions. | |||||||||||||||||
The transaction was completed on February 2, 2015. After adjustments for certain working capital assets and liabilities, minimum subscriber levels and preferred distributions totaling $14,612, and $9,000 of cash held in escrow pending resolution of potential additional purchase price adjustments (not reflected in the recognized gain), cash proceeds on the sale were $276,388, of which $240,472 was utilized to pay down our 2010 Senior Secured Credit Facility (“Senior Credit Facility”). This adjustment process is subject to a review and approval process and may ultimately be trued up within 90 days of the sale. GCI is disputing certain of the adjustments discussed above. Resolution of these potential adjustments is not expected to have a material effect on our financial statements. The Company recorded a gain before income tax of $39,719 in the three month period ended March 31, 2015. | |||||||||||||||||
The following table provides the calculation of the gain: | |||||||||||||||||
Consideration received: | |||||||||||||||||
Cash | $ | 35,916 | |||||||||||||||
Cash held in escrow | 9,000 | ||||||||||||||||
Principal payment on Senior Credit Facility | 240,472 | ||||||||||||||||
Total consideration received | 285,388 | ||||||||||||||||
Carrying value of assets and liabilities sold: | |||||||||||||||||
Equity investment in AWN | 250,192 | ||||||||||||||||
Assets and liabilities, net | 13,862 | ||||||||||||||||
Net change in deferred capacity revenue | (18,385 | ) | |||||||||||||||
Total carrying value of assets and liabilities sold | 245,669 | ||||||||||||||||
Gain on disposal of assets | $ | 39,719 | |||||||||||||||
The Acquired Assets included, without limitation, all the equity interests of AWN owned or held by ACSW, substantially all of ACS’s wireless subscriber assets, including subscriber contracts, and certain network assets at predetermined demarcation points to the cell site locations, including certain fiber strands and associated cell site electronics and microwave facilities and associated electronics. This transaction also includes a capacity agreement with GCI that is similar to the capacity agreement provided in the July 23, 2013 transaction with AWN, whereby ACS provides certain capacity from the predetermined demarcation points to a central switch location and, if required, to points outside of Alaska. GCI did not acquire certain “Excluded Assets”, which included, without limitation, cash, certain inventory, all rights and assets (other than drop circuits) primarily used to provide wireline services and any right or asset used by ACS or any of its affiliates to provide local exchange services under the Communications Act of 1934, as amended. GCI assumed from ACS post-closing liabilities of ACS and its affiliates under contracts assumed by GCI and liabilities with respect to the ownership by ACSW of its equity interest in AWN to the extent accruing and related to the period after closing. All other liabilities were retained by ACS and its affiliates. | |||||||||||||||||
The two companies agreed upon a service transition plan in which ACS continued to provide certain retail and back office services to its previous wireless customers for an interim period, which was completed on April 17, 2015. This arrangement did not cover the costs of providing the service. As of March 31, 2015, the fair value of these services was $4,050, which exceeded the consideration received for this service by approximately $710. This estimated loss was reflected in the calculation of our gain on the sale. | |||||||||||||||||
In addition to the major elements discussed above, ACS and its controlled affiliates are restricted from operating a wireless network or providing wireless products or services in Alaska for a period of four years after closing, except for: (a) fixed wireless replacement, (b) WiFi, (c) wireless backhaul and transport, (d) cell site leases and (e) acting as a wireless internet service provider. | |||||||||||||||||
As part of the transaction, the Company initiated a plan to sell certain assets associated with realigning operations to focus on its wireline broadband business going forward. These assets include certain handset inventory, which was sold, and retail store leases which are actively being marketed for sale to third parties. Upon completion of the service transition plan, the Company is accelerating its wireless retail wind-down activities, which include exiting all retail store locations, reducing workforce directly or indirectly associated with the retail wireless business, and taking other steps to align its cost structure as a smaller, more focused company. | |||||||||||||||||
The Company considered the sale of assets to GCI under the guidance of Accounting Standards Codification (“ASC”) 205-20 Discontinued Operations and ultimately concluded that the assets sold did not meet the definition of a component of an entity. The conclusion was based on the determination that the assets did not comprise operations that can be clearly distinguished, either operationally or for financial reporting. The Company has one operating segment and one reporting unit and although there are revenue streams that are clearly identifiable, the majority of the operating costs are comingled across the operations of its business and cannot be reasonably separated. | |||||||||||||||||
The following table provides a reconciliation of the major classes of assets and liabilities included in the Consolidated Balance Sheet under the captions “Current assets held-for-sale”, “Non-current assets held-for-sale,” “Current liabilities held-for-sale” and “Non-current liabilities held-for-sale” at March 31, 2015 and December 31, 2014: | |||||||||||||||||
March 31, | December 31, | ||||||||||||||||
2015 | 2014 | ||||||||||||||||
Current assets: | |||||||||||||||||
Accounts receivable, non-affiliates, net | $ | — | $ | 7,607 | |||||||||||||
Materials and supplies | — | 1,958 | |||||||||||||||
Total current assets held-for-sale | $ | — | $ | 9,565 | |||||||||||||
Property, plant and equipment, net of accumulated depreciation of $2,045 and $8,835 | 2,523 | 14,664 | |||||||||||||||
Total non-current assets held-for-sale | $ | 2,523 | $ | 14,664 | |||||||||||||
Current liabilities: | |||||||||||||||||
Current portion of long-term obligations | $ | 299 | $ | 287 | |||||||||||||
Accounts payable, accrued and other current liabilities, non-affiliates | — | 301 | |||||||||||||||
Accounts payable, accrued and other current liabilities, affiliates, net | — | 14,411 | |||||||||||||||
Advance billings and customer deposits | — | 3,729 | |||||||||||||||
Total current liabilities held-for-sale | $ | 299 | $ | 18,728 | |||||||||||||
Long-term obligations, net of current portion | 2,050 | 2,107 | |||||||||||||||
Total non-current liabilities held-for-sale | $ | 2,050 | $ | 2,107 | |||||||||||||
Although they did not meet the criteria for being classified as assets held-for-sale, certain other assets and liabilities were impacted by the transaction as follows: | |||||||||||||||||
• | The equity method investment in AWN, valued at $250,192, was sold to GCI on February 2, 2015. | ||||||||||||||||
• | The remaining Deferred AWN capacity revenue, which was created during the AWN transaction in 2013 and was being amortized over the 20 year contract life, was removed. This capacity had a carrying value of $59,672 on February 2, 2015. It was replaced with a new service obligation in the amount of $41,287 which was recorded at the estimated fair value of the services to be provided to GCI in the future and will be amortized over the new contract life of up to 30 years. | ||||||||||||||||
• | On February 2, 2015, the Company’s Senior Credit Facility was amended resulting in $240,472 in principal payments and the write-off of associated debt discount and debt issuance costs of $721 and $1,907, respectively in the three month period ended March 31, 2015. For additional information on this amendment, see Note 6 “Long-term Obligations.” | ||||||||||||||||
• | Current deferred tax assets of $92,836 representing Federal and state net operating loss carryforwards and state alternative minimum tax credit carryforwards, and non-current deferred tax liabilities of $70,577 related to the Company’s investment in AWN reversed in the first quarter of 2015 as a result of the Wireless Sale. | ||||||||||||||||
In connection with the Company’s decision to sell its wireless operations the Company has, and will continue to incur, a number of transaction and related wind-down costs throughout 2015. The wind-down costs include those associated with workforce reductions, termination of contracts and other associated obligations that meet the criteria for being reported as exit obligations under ASC 420 Exit or Disposal Cost Obligations. In the fourth quarter of 2014, the Company adjusted its inventory held for sale, less cost to sell, to fair value and began to incur labor obligations. The labor obligations are expected to be significant in the first half of 2015, and then begin to decline in the second half of the year. The Company also expects certain contract termination costs associated with retail store leases and the discontinuance of the wireless billing system software contract to begin to occur in the second quarter, and to continue throughout 2015. These obligations include costs associated with the disposal of $2,523 in capital lease assets and $2,349 in capital lease liabilities that were classified as assets and liabilities held-for-sale at March 31, 2015, as well as costs to vacate operating leases which have a remaining term of approximately 11 years and a remaining contract value of $6,306. The leased space is currently occupied and negotiation of the release from the liabilities is underway. The settlement terms are currently uncertain. Transaction costs include legal, debt amendment, accounting and other costs necessary to consummate the transaction. The Company has incurred $4,346 in transaction and wind-down costs in 2015. | |||||||||||||||||
The following table summarizes the Company’s current obligations for exit activities as of and for the three month period ended March 31, 2015: | |||||||||||||||||
Labor | Contract | Other | Total | ||||||||||||||
Obligations | Terminations | Associated | |||||||||||||||
Obligations | |||||||||||||||||
Balance, December 31, 2014 | $ | 490 | $ | — | $ | — | $ | 490 | |||||||||
Charged to expense | 2,485 | — | — | 2,485 | |||||||||||||
Paid and/or settled | (749 | ) | — | — | (749 | ) | |||||||||||
Balance, March 31, 2015 | $ | 2,226 | $ | — | $ | — | $ | 2,226 | |||||||||
The exit activities as noted above that have been incurred to date are included in the captions “Selling, general and administrative”, and “Cost of service and sales, non-affiliate” on the Company’s “Consolidated Statements of Comprehensive Income”. The exit liability is included in “Accounts payable and other accrued liabilities – non affiliates” on the Company’s “Consolidated Balance Sheets”. |
Equity_Method_Investments
Equity Method Investments | 3 Months Ended | ||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||
Equity Method Investments and Joint Ventures [Abstract] | |||||||||||||||||
Equity Method Investments | 3. EQUITY METHOD INVESTMENTS | ||||||||||||||||
The Company had no equity method investments at March 31, 2015. The Company’s equity method investment at December 31, 2014 consisted of a one-third interest in AWN. See Note 2 “Sale of Wireless Operations” for information regarding the Company’s sale of its ownership interest in AWN on February 2, 2015. The following table provides the Company’s ownership interest and investment in at the dates indicated: | |||||||||||||||||
March 31, | December 31, | March 31, | December 31, | ||||||||||||||
2015 | 2014 | 2015 | 2014 | ||||||||||||||
Ownership | Ownership | ||||||||||||||||
Interest | Interest | ||||||||||||||||
Alaska Wireless Network, LLC | 0 | % | 33 | % | $ | — | $ | 252,067 | |||||||||
Summarized financial information for AWN is as follows: | |||||||||||||||||
March 31, | December 31, | ||||||||||||||||
2015 | 2014 | ||||||||||||||||
Current assets | $ | — | $ | 139,237 | |||||||||||||
Non-current assets | $ | — | $ | 554,608 | |||||||||||||
Current liabilities | $ | — | $ | 91,247 | |||||||||||||
Non-current liabilities | $ | — | $ | 21,505 | |||||||||||||
Equity | $ | — | $ | 581,093 | |||||||||||||
March 31, | March 31, | ||||||||||||||||
2015 | 2014 | ||||||||||||||||
Operating revenues | $ | 21,457 | $ | 63,037 | |||||||||||||
Gross profit | $ | 15,745 | $ | 43,918 | |||||||||||||
Operating income | $ | 9,757 | $ | 26,969 | |||||||||||||
Net income | $ | 9,722 | $ | 26,877 | |||||||||||||
Adjusted Free Cash Flow (1) | $ | 10,805 | $ | 34,501 | |||||||||||||
(1) | Adjusted Free Cash Flow as defined in the Operating Agreement. |
Fair_Value_Measurements
Fair Value Measurements | 3 Months Ended | ||||||||||||||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||||||||||||||
Fair Value Disclosures [Abstract] | |||||||||||||||||||||||||||||||||
Fair Value Measurements | 4 | FAIR VALUE MEASUREMENTS | |||||||||||||||||||||||||||||||
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 fair value of the Company’s Senior Credit Facility, convertible notes and other long-term obligations of $192,209 at March 31, 2015, were estimated based primarily on quoted market prices (Level 1). The carrying values of these liabilities, including $2,349 of capital leases in liabilities held-for-sale, totaled $195,091 at March 31, 2015. | |||||||||||||||||||||||||||||||||
The Company has developed valuation techniques based upon observable and unobservable input to calculate the fair value of non-current monetary assets and liabilities. Observable input reflects market data obtained from independent sources while unobservable input reflects 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 March 31, 2015 and December 31, 2014, at each hierarchical level: | |||||||||||||||||||||||||||||||||
March 31, 2015 | December 31, 2014 | ||||||||||||||||||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | Total | Level 1 | Level 2 | Level 3 | ||||||||||||||||||||||||||
Other long-term liabilities: | |||||||||||||||||||||||||||||||||
Interest rate swaps | $ | (950 | ) | $ | — | $ | (950 | ) | $ | — | $ | (1,416 | ) | $ | — | $ | (1,416 | ) | $ | — | |||||||||||||
Derivative Financial Instruments | |||||||||||||||||||||||||||||||||
The Company uses floating-to-fixed interest rate swaps to manage variable interest rate risk. The notional amounts of these 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 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. | |||||||||||||||||||||||||||||||||
The outstanding amount of the swaps as of a 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. | |||||||||||||||||||||||||||||||||
On December 4, 2014, upon the announcement of the sale of its wireless operations, $240,472 of the Company’s Senior Credit Facility was expected to be repaid. Hedge accounting treatment on the interest rate swap in the notional amount of $115,500 was discontinued because it became “possible” that the interest payments on which the swap were intended to hedge would not occur. At February 2, 2015, 95.5% or $110,268 of the $115,500 swap was deemed ineffective and, therefore, future changes in fair value will be recorded to interest expense. As of March 31, 2015, $267 was credited to interest expense for the ineffective portion. | |||||||||||||||||||||||||||||||||
The following table presents information about the floating-to-fixed interest rate swaps in the total notional amount of $192,500 as of and for the three month periods ending March 31, 2015 and 2014: | |||||||||||||||||||||||||||||||||
2015 | 2014 | ||||||||||||||||||||||||||||||||
Balance, January 1 | $ | 1,416 | $ | 3,234 | |||||||||||||||||||||||||||||
Reclassified from accumulated other comprehensive loss to other long-term liabilities | (199 | ) | (484 | ) | |||||||||||||||||||||||||||||
Change in fair value credited to interest expense | (267 | ) | — | ||||||||||||||||||||||||||||||
Balance, March 31 | $ | 950 | $ | 2,750 | |||||||||||||||||||||||||||||
Deferred Capacity Revenue | |||||||||||||||||||||||||||||||||
As discussed in Note 2 “Sale of Wireless Operations,” the Company entered into an agreement to provide wholesale services to GCI on February 2, 2015. A national valuation firm was engaged to assist in the determination of the fair value of the obligation of $41,287 at February 2, 2015, which will be amortized to revenue over the contract life of 10 to 30 years. The service obligation had a carrying value of $40,964 at March 31, 2015, and is reported as “Deferred GCI/AWN capacity revenue, net of current portion” and “Accounts payable, accrued and other current liabilities, non-affiliates” on our Consolidated Balance Sheet. | |||||||||||||||||||||||||||||||||
The following table describes the valuation techniques used to measure the fair value of the service obligation and the significant unobservable inputs and values for those inputs: | |||||||||||||||||||||||||||||||||
Description | Estimated | Valuation Technique | Level 3 Unobservable Inputs | Significant | |||||||||||||||||||||||||||||
Fair Value | Input Values | ||||||||||||||||||||||||||||||||
Deferred Capacity Revenue | $ | 41,287 | Cost/Replacement Value and Discounted Cash Flow | Weighted Average Cost of Capital | 11.00% | ||||||||||||||||||||||||||||
Cost trend factor | 1% - 4% | ||||||||||||||||||||||||||||||||
Estimated % used by GCI | 1% - 100% | ||||||||||||||||||||||||||||||||
Historical cost of underlying assets | Actual cost |
Current_Liabilities
Current Liabilities | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Payables and Accruals [Abstract] | |||||||||
Current Liabilities | 5 | CURRENT LIABILITIES | |||||||
Accounts payable, accrued and other current liabilities, non-affiliates consist of the following at March 31, 2015 and December 31, 2014: | |||||||||
2015 | 2014 | ||||||||
Accrued payroll, benefits, and related liabilities | $ | 22,275 | $ | 18,086 | |||||
Accounts payable - trade | 17,284 | 25,672 | |||||||
Income taxes payable | 13,613 | — | |||||||
Contingent sale proceeds held in escrow | 9,000 | — | |||||||
Other | 13,701 | 10,615 | |||||||
$ | 75,873 | $ | 54,373 | ||||||
Advance billings and customer deposits consist of the following at March 31, 2015 and December 31, 2014: | |||||||||
2015 | 2014 | ||||||||
Advance billings | $ | 4,641 | $ | 4,449 | |||||
Customer deposits | 31 | 41 | |||||||
$ | 4,672 | $ | 4,490 | ||||||
LongTerm_Obligations
Long-Term Obligations | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Debt Disclosure [Abstract] | |||||||||
Long-Term Obligations | 6 | LONG-TERM OBLIGATIONS | |||||||
Long-term obligations consist of the following at March 31, 2015 and December 31, 2014: | |||||||||
2015 | 2014 | ||||||||
2010 senior credit facility term loan due 2016 | $ | 81,292 | $ | 322,700 | |||||
Debt discount - 2010 senior credit facility term loan due 2016 | (1,156 | ) | (1,014 | ) | |||||
6.25% convertible notes due 2018 | 114,000 | 114,000 | |||||||
Debt discount - 6.25% convertible notes due 2018 | (6,712 | ) | (7,242 | ) | |||||
Capital leases and other long-term obligations | 5,318 | 5,524 | |||||||
192,742 | 433,968 | ||||||||
Less current portion | (4,384 | ) | (15,521 | ) | |||||
Long-term obligations, net of current portion | $ | 188,358 | $ | 418,447 | |||||
As of March 31, 2015, the aggregate maturities of long-term obligations for each of the five years and thereafter subsequent to March 31, 2015, were as follows: | |||||||||
2015 (April 1 - December 31) | $ | 3,622 | |||||||
2016 (January 1 - December 31) | 79,589 | ||||||||
2017 (January 1 - December 31) | 829 | ||||||||
2018 (January 1 - December 31) | 114,621 | ||||||||
2019 (January 1 - December 31) | 392 | ||||||||
2020 (January 1 - December 31) | 166 | ||||||||
Thereafter | 3,740 | ||||||||
$ | 202,959 | ||||||||
Included in the above maturity schedule is $2,349 associated with capital leases marketed for sale in conjuction with the sale of our wireless operations. | |||||||||
The Senior Credit Facility was amended effective February 2, 2015 in connection with the Wireless Sale, including the sale of the Company’s interest in AWN (“Second Amendment”). Proceeds on the Wireless Sale were utilized to reduce the outstanding balance of the Senior Credit Facility by $240,472. | |||||||||
Certain of the terms in the Second Amendment as compared with those terms as amended effective November 1, 2012 are as follows: | |||||||||
First | Second | ||||||||
Amendment | Amendment | ||||||||
Interest rate: | |||||||||
Margin over LIBOR | 4.75 | % | 4.75 | % | |||||
LIBOR floor | 1.5 | % | 1.5 | % | |||||
Total Leverage to Adjusted EBITDA Ratio Limit: | |||||||||
March 31, 2015 and thereafter | 5.25 | 5.25 | |||||||
Senior Secured Leverage to Adjusted EBITDA Ratio Limit: | |||||||||
March 31, 2015 and thereafter | 4.25 | 3 | |||||||
Adjusted EBITDA to Fixed Charges Coverage Ratio Minimum: | |||||||||
March 31, 2015 through September 15, 2015 | 2.5 | 2 | |||||||
December 31, 2015 and thereafter | 2.75 | 2 | |||||||
See the Company’s Report on Form 8-K dated December 4, 2014 and filed on March 5, 2015 for additional information about the Second Amendment, including definitions of Adjusted EBITDA and the above ratios. | |||||||||
In connection with the $240,472 principal payment made with proceeds from the Wireless Sale, expected future quarterly principal payments on the Senior Credit Facility were reduced proportionately from $3,675 to $936, effective January 1, 2015, and from $3,300 to $841, effective January 1, 2016. |
Accumulated_Other_Comprehensiv
Accumulated Other Comprehensive Loss | 3 Months Ended | ||||||||||||
Mar. 31, 2015 | |||||||||||||
Equity [Abstract] | |||||||||||||
Accumulated Other Comprehensive Loss | 7 | ACCUMULATED OTHER COMPREHENSIVE LOSS | |||||||||||
The following table summarizes the activity in accumulated other comprehensive loss for the three month period ended March 31, 2015: | |||||||||||||
Defined | Interest | Total | |||||||||||
Benefit | Rate Swaps | ||||||||||||
Pension | |||||||||||||
Plan | |||||||||||||
Balance, December 31, 2014 | $ | (3,639 | ) | $ | (1,512 | ) | $ | (5,151 | ) | ||||
Other comprehensive income before reclassifications | 12 | 118 | 130 | ||||||||||
Reclassifications from accumulated comprehensive loss to net income | 161 | 1,154 | 1,315 | ||||||||||
Net other comprehensive income | 173 | 1,272 | 1,445 | ||||||||||
Balance, March 31, 2015 | $ | (3,466 | ) | $ | (240 | ) | $ | (3,706 | ) | ||||
Amounts reclassified to net income from our defined benefit pension plan and interest rate swaps have been presented within “Cost of services and sales, non-affiliate” and “Interest expense,” respectively, in our Condensed Consolidated Statements of Comprehensive Income. The estimated amount of accumulated other comprehensive loss to be reclassified to interest expense within the next twelve months is zero. |
Stock_Incentive_Plans
Stock Incentive Plans | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |||||||||
Stock Incentive Plans | 8 | STOCK INCENTIVE PLANS | |||||||
Under the Company’s stock incentive plan, stock options, restricted stock, stock-settled stock appreciation rights, performance share units and other awards may be granted to officers, employees, consultants, and non-employee directors. | |||||||||
The following table summarizes the restricted stock unit, long-term incentive award and non-employee director stock compensation activity for the three month period ended March 31, 2015: | |||||||||
Number | Weighted | ||||||||
of Shares | Average | ||||||||
Grant Date | |||||||||
Fair | |||||||||
Value | |||||||||
Nonvested at December 31, 2014 | 1,299 | $ | 2.3 | ||||||
Granted | 902 | 1.69 | |||||||
Vested | (585 | ) | 2.71 | ||||||
Canceled or expired | (75 | ) | 1.92 | ||||||
Nonvested at March 31, 2015 | 1,541 | $ | 1.81 | ||||||
The following table summarizes the performance share unit activity for the three month period ended March 31, 2015: | |||||||||
Number | Weighted | ||||||||
of Shares | Average | ||||||||
Grant Date | |||||||||
Fair | |||||||||
Value | |||||||||
Nonvested at December 31, 2014 | 790 | $ | 3.32 | ||||||
Granted | 846 | 1.69 | |||||||
Vested | (257 | ) | 1.7 | ||||||
Canceled or expired | (191 | ) | 1.96 | ||||||
Nonvested at March 31, 2015 | 1,188 | $ | 2.73 | ||||||
The following table summarizes the assumptions used for valuation of equity instruments granted during the three month periods ended March 31, 2015 and 2014: | |||||||||
2015 | 2014 | ||||||||
Restricted stock: | |||||||||
Risk free rate | 0.00% | 0.03% - 0.19% | |||||||
Expected annual forfeiture rate | 9% | 9% | |||||||
The following table provides selected information about the Company’s share-based compensation for the three month periods ended March 31, 2015 and 2014: | |||||||||
2015 | 2014 | ||||||||
Total compensation cost for share-based payments | $ | 484 | $ | 653 | |||||
Weighted average grant-date fair value of equity instruments granted (per share) | $ | 1.69 | $ | 1.89 | |||||
Total grant date fair value of shares vested during the period | $ | 2,252 | $ | 2,716 | |||||
Unamortized share-based payments | $ | 3,109 | $ | 2,587 | |||||
Weighted average period (in years) to be recognized as expense | 1.8 | 1.7 |
Earnings_Per_Share
Earnings Per Share | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Earnings Per Share [Abstract] | |||||||||
Earnings Per Share | 9 | EARNINGS PER SHARE | |||||||
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 assumes no dilution and is computed by dividing net income (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 granted to employees and deferred shares granted to directors. The Company includes dilutive stock options based on the “treasury stock method.” | |||||||||
The Company’s 6.25% Convertible Notes due 2018 (“6.25% Notes”) are convertible by the holder beginning February 1, 2018 at an initial conversion rate of 97.2668 shares of common stock per one thousand dollars principal amount of the 6.25% Notes. This is equivalent to an initial conversion price of approximately $10.28 per share of common stock. Given that the Company’s current share price is well below $10.28, the Company does not anticipate that there will be a conversion of the 6.25% Notes into equity. Effective in the first quarter of 2015, the Company determined that it has the intent and ability to settle the principal and interest payments on its 6.25% Notes in cash over time. This determination was based on (i) the Company’s improved liquidity position subsequent to the Wireless Sale, including its performance against the financial ratios defined under the terms of its Senior Credit Facility, reduced levels of debt and increased availability under its revolving credit facility; (ii) its intention to refinance its term loan facility to provide additional borrowing flexibility; and (iii) its expectations of future operating performance. Accordingly, 11,088 shares related to the 6.25% Notes have been excluded from the calculation of diluted earnings per share for the three month period ended March 31, 2015. | |||||||||
Due to the Company’s net loss in the three month period ended March 31, 2014, 2,296 potential common share equivalents outstanding, which consisted of options, restricted stock and deferred shares granted to directors, were anti-dilutive and excluded from the calculation. In connection with the Company’s acquisition of the remaining 51% interest in TekMate, LLC (“TekMate”), at March 31, 2014, $800 was payable at the Company’s option either in cash or issuance of common stock in 2014. These shares, if converted, would have been anti-dilutive and were also excluded from the calculation. The Company determined in the second quarter of 2014 to settle this liability in cash, which was then paid on July 15, 2014. Additionally, 11,088 shares related to the Company’s convertible notes were anti-dilutive for the three month period ended March 31, 2014. | |||||||||
The calculation of basic and diluted earnings per share for the three month periods ended March 31, 2015 and 2014 are as follows: | |||||||||
2015 | 2014 | ||||||||
Net income (loss) applicable to common shares | $ | 16,217 | $ | (385 | ) | ||||
Weighted average common shares outstanding: | |||||||||
Basic shares | 49,916 | 48,913 | |||||||
Effect of stock-based compensation | 779 | — | |||||||
Diluted shares | 50,695 | 48,913 | |||||||
Earnings per share: | |||||||||
Basic | $ | 0.32 | $ | (0.01 | ) | ||||
Diluted | $ | 0.32 | $ | (0.01 | ) | ||||
Retirement_Plans
Retirement Plans | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Compensation and Retirement Disclosure [Abstract] | |||||||||
Retirement Plans | 10 | 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 was not in endangered or critical status during the plan year. | |||||||||
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. As of March 31, 2015, this plan is not fully funded under the Employee Retirement Income Security Act of 1974, as amended. | |||||||||
The following table presents the net periodic pension expense for the ACS Retirement Plan for the three month periods ended March 31, 2015 and 2014: | |||||||||
2015 | 2014 | ||||||||
Interest cost | $ | 166 | $ | 160 | |||||
Expected return on plan assets | (187 | ) | (180 | ) | |||||
Amortization of loss | 294 | 204 | |||||||
Net periodic pension expense | $ | 273 | $ | 184 | |||||
Business_Segments
Business Segments | 3 Months Ended | |
Mar. 31, 2015 | ||
Segment Reporting [Abstract] | ||
Business Segments | 11 | BUSINESS SEGMENTS |
The Company operates its business under a single reportable 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 | 3 Months Ended | |
Mar. 31, 2015 | ||
Commitments and Contingencies Disclosure [Abstract] | ||
Commitments and Contingencies | 12 | COMMITMENTS AND CONTINGENCIES |
The Company enters into purchase commitments with vendors in the ordinary course of business. 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 is involved in various claims, legal actions and regulatory proceedings arising in the ordinary course of business and has recorded litigation accruals of $547 at March 31, 2015 against certain current claims and legal actions. The Company also has $9,000 of restricted cash held in escrow pending the resolution of potential disputes in connection with the Wireless Sale. 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_Sum1
Description of Company and Summary of Significant Accounting Policies (Policies) | 3 Months Ended | |||
Mar. 31, 2015 | ||||
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, 2014. 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. Comprehensive income for the three months ended March 31, 2015, is 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, 2014 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 Issued Accounting Pronouncements | Recently Issued Accounting Pronouncements | |||
In February 2015, the Financial Accounting Standards Board (“FASB”) issued ASU 2015-02, “Consolidation (Topic 810), Amendments to the Consolidation Analysis (“ASU 2015-02”). This update amends the analysis that a reporting entity must perform to determine whether it should consolidate certain types of legal entities. | ||||
Specifically, the amendments: (i) modify the evaluation of whether limited partnerships and similar legal entities are variable interest entities or voting interest entities; (ii) eliminates the presumption that a general partner should consolidate a limited partnership; (iii) affects the consolidation analysis of reporting entities that are involved with variable interest entities, particularly those that have fee arrangements and related party relationships; and (iv) provides a scope exception from the consolidation guidance for reporting entities with interests in legal entities that are required to comply with or operate in accordance with requirements that are similar to those in Rule 2a-7 of the Investment Company Act of 1940 for registered money market funds. The provisions of ASU 2015-02 are effective for quarterly and annual reporting periods beginning after December 15, 2015. The Company is evaluating the effect that ASU 2015-02 will have on its consolidated financial statements and related disclosures. | ||||
In April 2015, the FASB issued ASU 2015-03, “Interest – Imputation of Interest (Subtopic 835-30), Simplifying the Presentation of Debt Issuance Costs (“ASU 2015-03”). The amendments in ASU 2015-03 require that debt issuance costs related to a recognized debt liability be presented on the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. The recognition and measurement guidance for debt issuance costs are not affected by this update. The provisions of ASU 2015-03 are effective for financial statements issued for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years. The guidance in this ASU is to be applied on a retrospective basis. Early adoption is permitted. The Company is evaluating the effect that ASU 2015-03 will have on its consolidated financial statements and related disclosures. | ||||
Fair Value Measurements | The Company has developed valuation techniques based upon observable and unobservable input to calculate the fair value of non-current monetary assets and liabilities. Observable input reflects market data obtained from independent sources while unobservable input reflects 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. |
Sale_of_Wireless_Operations_Ta
Sale of Wireless Operations (Tables) | 3 Months Ended | ||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||
Discontinued Operations and Disposal Groups [Abstract] | |||||||||||||||||
Components of Gain on Sale of Assets | The following table provides the calculation of the gain: | ||||||||||||||||
Consideration received: | |||||||||||||||||
Cash | $ | 35,916 | |||||||||||||||
Cash held in escrow | 9,000 | ||||||||||||||||
Principal payment on Senior Credit Facility | 240,472 | ||||||||||||||||
Total consideration received | 285,388 | ||||||||||||||||
Carrying value of assets and liabilities sold: | |||||||||||||||||
Equity investment in AWN | 250,192 | ||||||||||||||||
Assets and liabilities, net | 13,862 | ||||||||||||||||
Net change in deferred capacity revenue | (18,385 | ) | |||||||||||||||
Total carrying value of assets and liabilities sold | 245,669 | ||||||||||||||||
Gain on disposal of assets | $ | 39,719 | |||||||||||||||
Schedule of Reconciliation of Major Classes of Assets and Liabilities Held for Sale | The following table provides a reconciliation of the major classes of assets and liabilities included in the Consolidated Balance Sheet under the captions “Current assets held-for-sale”, “Non-current assets held-for-sale,” “Current liabilities held-for-sale” and “Non-current liabilities held-for-sale” at March 31, 2015 and December 31, 2014: | ||||||||||||||||
March 31, | December 31, | ||||||||||||||||
2015 | 2014 | ||||||||||||||||
Current assets: | |||||||||||||||||
Accounts receivable, non-affiliates, net | $ | — | $ | 7,607 | |||||||||||||
Materials and supplies | — | 1,958 | |||||||||||||||
Total current assets held-for-sale | $ | — | $ | 9,565 | |||||||||||||
Property, plant and equipment, net of accumulated depreciation of $2,045 and $8,835 | 2,523 | 14,664 | |||||||||||||||
Total non-current assets held-for-sale | $ | 2,523 | $ | 14,664 | |||||||||||||
Current liabilities: | |||||||||||||||||
Current portion of long-term obligations | $ | 299 | $ | 287 | |||||||||||||
Accounts payable, accrued and other current liabilities, non-affiliates | — | 301 | |||||||||||||||
Accounts payable, accrued and other current liabilities, affiliates, net | — | 14,411 | |||||||||||||||
Advance billings and customer deposits | — | 3,729 | |||||||||||||||
Total current liabilities held-for-sale | $ | 299 | $ | 18,728 | |||||||||||||
Long-term obligations, net of current portion | 2,050 | 2,107 | |||||||||||||||
Total non-current liabilities held-for-sale | $ | 2,050 | $ | 2,107 | |||||||||||||
Schedule of Company's Current Obligations for Exit Activities | The following table summarizes the Company’s current obligations for exit activities as of and for the three month period ended March 31, 2015: | ||||||||||||||||
Labor | Contract | Other | Total | ||||||||||||||
Obligations | Terminations | Associated | |||||||||||||||
Obligations | |||||||||||||||||
Balance, December 31, 2014 | $ | 490 | $ | — | $ | — | $ | 490 | |||||||||
Charged to expense | 2,485 | — | — | 2,485 | |||||||||||||
Paid and/or settled | (749 | ) | — | — | (749 | ) | |||||||||||
Balance, March 31, 2015 | $ | 2,226 | $ | — | $ | — | $ | 2,226 | |||||||||
Equity_Method_Investments_Tabl
Equity Method Investments (Tables) | 3 Months Ended | ||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||
Equity Method Investments and Joint Ventures [Abstract] | |||||||||||||||||
Schedule of Company's Ownership Interest and Investment | The following table provides the Company’s ownership interest and investment in at the dates indicated: | ||||||||||||||||
March 31, | December 31, | March 31, | December 31, | ||||||||||||||
2015 | 2014 | 2015 | 2014 | ||||||||||||||
Ownership | Ownership | ||||||||||||||||
Interest | Interest | ||||||||||||||||
Alaska Wireless Network, LLC | 0 | % | 33 | % | $ | — | $ | 252,067 | |||||||||
Summarized Financial Information | Summarized financial information for AWN is as follows: | ||||||||||||||||
March 31, | December 31, | ||||||||||||||||
2015 | 2014 | ||||||||||||||||
Current assets | $ | — | $ | 139,237 | |||||||||||||
Non-current assets | $ | — | $ | 554,608 | |||||||||||||
Current liabilities | $ | — | $ | 91,247 | |||||||||||||
Non-current liabilities | $ | — | $ | 21,505 | |||||||||||||
Equity | $ | — | $ | 581,093 | |||||||||||||
March 31, | March 31, | ||||||||||||||||
2015 | 2014 | ||||||||||||||||
Operating revenues | $ | 21,457 | $ | 63,037 | |||||||||||||
Gross profit | $ | 15,745 | $ | 43,918 | |||||||||||||
Operating income | $ | 9,757 | $ | 26,969 | |||||||||||||
Net income | $ | 9,722 | $ | 26,877 | |||||||||||||
Adjusted Free Cash Flow (1) | $ | 10,805 | $ | 34,501 | |||||||||||||
(1) | Adjusted Free Cash Flow as defined in the Operating Agreement. |
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 3 Months Ended | ||||||||||||||||||||||||||||||||
Mar. 31, 2015 | |||||||||||||||||||||||||||||||||
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 March 31, 2015 and December 31, 2014, at each hierarchical level: | ||||||||||||||||||||||||||||||||
March 31, 2015 | December 31, 2014 | ||||||||||||||||||||||||||||||||
Total | Level 1 | Level 2 | Level 3 | Total | Level 1 | Level 2 | Level 3 | ||||||||||||||||||||||||||
Other long-term liabilities: | |||||||||||||||||||||||||||||||||
Interest rate swaps | $ | (950 | ) | $ | — | $ | (950 | ) | $ | — | $ | (1,416 | ) | $ | — | $ | (1,416 | ) | $ | — | |||||||||||||
Schedule of Floating-to-Fixed Interest Rate Swaps | The following table presents information about the floating-to-fixed interest rate swaps in the total notional amount of $192,500 as of and for the three month periods ending March 31, 2015 and 2014: | ||||||||||||||||||||||||||||||||
2015 | 2014 | ||||||||||||||||||||||||||||||||
Balance, January 1 | $ | 1,416 | $ | 3,234 | |||||||||||||||||||||||||||||
Reclassified from accumulated other comprehensive loss to other long-term liabilities | (199 | ) | (484 | ) | |||||||||||||||||||||||||||||
Change in fair value credited to interest expense | (267 | ) | — | ||||||||||||||||||||||||||||||
Balance, March 31 | $ | 950 | $ | 2,750 | |||||||||||||||||||||||||||||
Schedule of Valuation Techniques to Measure Fair Value of Service Obligation and Significant Unobservable Inputs and Values | The following table describes the valuation techniques used to measure the fair value of the service obligation and the significant unobservable inputs and values for those inputs: | ||||||||||||||||||||||||||||||||
Description | Estimated | Valuation Technique | Level 3 Unobservable Inputs | Significant | |||||||||||||||||||||||||||||
Fair Value | Input Values | ||||||||||||||||||||||||||||||||
Deferred Capacity Revenue | $ | 41,287 | Cost/Replacement Value and Discounted Cash Flow | Weighted Average Cost of Capital | 11.00% | ||||||||||||||||||||||||||||
Cost trend factor | 1% - 4% | ||||||||||||||||||||||||||||||||
Estimated % used by GCI | 1% - 100% | ||||||||||||||||||||||||||||||||
Historical cost of underlying assets | Actual cost |
Current_Liabilities_Tables
Current Liabilities (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Payables and Accruals [Abstract] | |||||||||
Schedule of Accounts Payable, Accrued and Other Current Liabilities, Non-Affiliates | Accounts payable, accrued and other current liabilities, non-affiliates consist of the following at March 31, 2015 and December 31, 2014: | ||||||||
2015 | 2014 | ||||||||
Accrued payroll, benefits, and related liabilities | $ | 22,275 | $ | 18,086 | |||||
Accounts payable - trade | 17,284 | 25,672 | |||||||
Income taxes payable | 13,613 | — | |||||||
Contingent sale proceeds held in escrow | 9,000 | — | |||||||
Other | 13,701 | 10,615 | |||||||
$ | 75,873 | $ | 54,373 | ||||||
Schedule of Advance Billings and Customer Deposits | Advance billings and customer deposits consist of the following at March 31, 2015 and December 31, 2014: | ||||||||
2015 | 2014 | ||||||||
Advance billings | $ | 4,641 | $ | 4,449 | |||||
Customer deposits | 31 | 41 | |||||||
$ | 4,672 | $ | 4,490 | ||||||
LongTerm_Obligations_Tables
Long-Term Obligations (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Debt Disclosure [Abstract] | |||||||||
Schedule of Long-term Obligations | Long-term obligations consist of the following at March 31, 2015 and December 31, 2014: | ||||||||
2015 | 2014 | ||||||||
2010 senior credit facility term loan due 2016 | $ | 81,292 | $ | 322,700 | |||||
Debt discount - 2010 senior credit facility term loan due 2016 | (1,156 | ) | (1,014 | ) | |||||
6.25% convertible notes due 2018 | 114,000 | 114,000 | |||||||
Debt discount - 6.25% convertible notes due 2018 | (6,712 | ) | (7,242 | ) | |||||
Capital leases and other long-term obligations | 5,318 | 5,524 | |||||||
192,742 | 433,968 | ||||||||
Less current portion | (4,384 | ) | (15,521 | ) | |||||
Long-term obligations, net of current portion | $ | 188,358 | $ | 418,447 | |||||
Schedule of Aggregate Maturities of Long-term Obligations | As of March 31, 2015, the aggregate maturities of long-term obligations for each of the five years and thereafter subsequent to March 31, 2015, were as follows: | ||||||||
2015 (April 1 - December 31) | $ | 3,622 | |||||||
2016 (January 1 - December 31) | 79,589 | ||||||||
2017 (January 1 - December 31) | 829 | ||||||||
2018 (January 1 - December 31) | 114,621 | ||||||||
2019 (January 1 - December 31) | 392 | ||||||||
2020 (January 1 - December 31) | 166 | ||||||||
Thereafter | 3,740 | ||||||||
$ | 202,959 | ||||||||
Schedule of Senior Credit Facility Terms Second Amendment Comparison with First Amendment | Certain of the terms in the Second Amendment as compared with those terms as amended effective November 1, 2012 are as follows: | ||||||||
First | Second | ||||||||
Amendment | Amendment | ||||||||
Interest rate: | |||||||||
Margin over LIBOR | 4.75 | % | 4.75 | % | |||||
LIBOR floor | 1.5 | % | 1.5 | % | |||||
Total Leverage to Adjusted EBITDA Ratio Limit: | |||||||||
March 31, 2015 and thereafter | 5.25 | 5.25 | |||||||
Senior Secured Leverage to Adjusted EBITDA Ratio Limit: | |||||||||
March 31, 2015 and thereafter | 4.25 | 3 | |||||||
Adjusted EBITDA to Fixed Charges Coverage Ratio Minimum: | |||||||||
March 31, 2015 through September 15, 2015 | 2.5 | 2 | |||||||
December 31, 2015 and thereafter | 2.75 | 2 |
Accumulated_Other_Comprehensiv1
Accumulated Other Comprehensive Loss (Tables) | 3 Months Ended | ||||||||||||
Mar. 31, 2015 | |||||||||||||
Equity [Abstract] | |||||||||||||
Summary of Activity in Accumulated Other Comprehensive Loss | The following table summarizes the activity in accumulated other comprehensive loss for the three month period ended March 31, 2015: | ||||||||||||
Defined | Interest | Total | |||||||||||
Benefit | Rate Swaps | ||||||||||||
Pension | |||||||||||||
Plan | |||||||||||||
Balance, December 31, 2014 | $ | (3,639 | ) | $ | (1,512 | ) | $ | (5,151 | ) | ||||
Other comprehensive income before reclassifications | 12 | 118 | 130 | ||||||||||
Reclassifications from accumulated comprehensive loss to net income | 161 | 1,154 | 1,315 | ||||||||||
Net other comprehensive income | 173 | 1,272 | 1,445 | ||||||||||
Balance, March 31, 2015 | $ | (3,466 | ) | $ | (240 | ) | $ | (3,706 | ) | ||||
Stock_Incentive_Plans_Tables
Stock Incentive Plans (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |||||||||
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 three month period ended March 31, 2015: | ||||||||
Number | Weighted | ||||||||
of Shares | Average | ||||||||
Grant Date | |||||||||
Fair | |||||||||
Value | |||||||||
Nonvested at December 31, 2014 | 1,299 | $ | 2.3 | ||||||
Granted | 902 | 1.69 | |||||||
Vested | (585 | ) | 2.71 | ||||||
Canceled or expired | (75 | ) | 1.92 | ||||||
Nonvested at March 31, 2015 | 1,541 | $ | 1.81 | ||||||
Summary of Activity for Performance Share Units | The following table summarizes the performance share unit activity for the three month period ended March 31, 2015: | ||||||||
Number | Weighted | ||||||||
of Shares | Average | ||||||||
Grant Date | |||||||||
Fair | |||||||||
Value | |||||||||
Nonvested at December 31, 2014 | 790 | $ | 3.32 | ||||||
Granted | 846 | 1.69 | |||||||
Vested | (257 | ) | 1.7 | ||||||
Canceled or expired | (191 | ) | 1.96 | ||||||
Nonvested at March 31, 2015 | 1,188 | $ | 2.73 | ||||||
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 three month periods ended March 31, 2015 and 2014: | ||||||||
2015 | 2014 | ||||||||
Restricted stock: | |||||||||
Risk free rate | 0.00% | 0.03% - 0.19% | |||||||
Expected annual forfeiture rate | 9% | 9% | |||||||
Share-Based Compensation | The following table provides selected information about the Company’s share-based compensation for the three month periods ended March 31, 2015 and 2014: | ||||||||
2015 | 2014 | ||||||||
Total compensation cost for share-based payments | $ | 484 | $ | 653 | |||||
Weighted average grant-date fair value of equity instruments granted (per share) | $ | 1.69 | $ | 1.89 | |||||
Total grant date fair value of shares vested during the period | $ | 2,252 | $ | 2,716 | |||||
Unamortized share-based payments | $ | 3,109 | $ | 2,587 | |||||
Weighted average period (in years) to be recognized as expense | 1.8 | 1.7 |
Earnings_Per_Share_Tables
Earnings Per Share (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
Earnings Per Share [Abstract] | |||||||||
Calculation of Basic and Diluted Earnings Per Share | The calculation of basic and diluted earnings per share for the three month periods ended March 31, 2015 and 2014 are as follows: | ||||||||
2015 | 2014 | ||||||||
Net income (loss) applicable to common shares | $ | 16,217 | $ | (385 | ) | ||||
Weighted average common shares outstanding: | |||||||||
Basic shares | 49,916 | 48,913 | |||||||
Effect of stock-based compensation | 779 | — | |||||||
Diluted shares | 50,695 | 48,913 | |||||||
Earnings per share: | |||||||||
Basic | $ | 0.32 | $ | (0.01 | ) | ||||
Diluted | $ | 0.32 | $ | (0.01 | ) | ||||
Retirement_Plans_Tables
Retirement Plans (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2015 | |||||||||
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 month periods ended March 31, 2015 and 2014: | ||||||||
2015 | 2014 | ||||||||
Interest cost | $ | 166 | $ | 160 | |||||
Expected return on plan assets | (187 | ) | (180 | ) | |||||
Amortization of loss | 294 | 204 | |||||||
Net periodic pension expense | $ | 273 | $ | 184 | |||||
Description_of_Company_and_Sum2
Description of Company and Summary of Significant Accounting Policies - Additional Information (Detail) | 0 Months Ended | |||
Feb. 02, 2015 | Mar. 31, 2015 | Feb. 01, 2015 | Dec. 31, 2014 | |
Significant Accounting Policies [Line Items] | ||||
Percentage of ownership interest sold in wireless operations | 33.33% | |||
Alaska Wireless Network, LLC [Member] | ||||
Significant Accounting Policies [Line Items] | ||||
Percentage ownership interest in equity method investments | 0.00% | 33.33% | 33.00% |
Sale_of_Wireless_Operations_Ad
Sale of Wireless Operations - Additional Information (Detail) (USD $) | 0 Months Ended | 3 Months Ended | 0 Months Ended | ||
Feb. 02, 2015 | Mar. 31, 2015 | Mar. 31, 2014 | Dec. 04, 2014 | Dec. 31, 2014 | |
Segments | |||||
Reporting_Unit | |||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||
Cash proceeds from sale of one or more of its affiliates | $276,388,000 | $300,000,000 | |||
Adjustments on working capital assets and liabilities, minimum subscriber levels and preferred distributions | 14,612,000 | ||||
Additional amount held in escrow | 9,000,000 | 9,000,000 | |||
Amount of gain on sale, pre-tax | 39,719,000 | ||||
Estimated amount of fair value of services | 4,050,000 | ||||
Estimated amount of gain on sale | 710,000 | ||||
Number of operating segment | 1 | ||||
Number of reporting unit | 1 | ||||
Equity method investments | 0 | 252,067,000 | |||
Deferred AWN capacity revenue | 59,672,000 | ||||
Long term debt repayment of principal amount | 241,718,000 | 13,354,000 | |||
Federal and state net operating loss and state alternative minimum tax credits carryforwards | 92,836,000 | ||||
Non current deferred tax liabilities related to investment in AWN | 70,577,000 | ||||
Operating leases remaining terms | 11 years | ||||
Transaction related costs | 4,346,000 | ||||
GCI [Member] | |||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||
Remaining contract life | 30 years | ||||
Estimated fair value services | 41,287,000 | ||||
Capital Leases and Other Long-term Obligations [Member] | |||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||
Capital lease obligation asset cost | 2,523,000 | ||||
Capital lease obligation liabilities | 2,349,000 | ||||
Wireless Operations [Member] | |||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||
Operating lease remaining contract value | 6,306,000 | ||||
2010 Senior Credit Facility Term Loan Due 2016 [Member] | |||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||
Long term debt repayment of principal amount | 240,472,000 | 240,472,000 | |||
Debt discount | 721,000 | ||||
Debt issuance costs | 1,907,000 | ||||
Alaska Wireless Network, LLC [Member] | |||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||
Equity method investments | $250,192,000 | $252,067,000 | |||
Remaining contract life | 20 years |
Sale_of_Wireless_Operations_Co
Sale of Wireless Operations - Components of Gain on Sale of Assets (Detail) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Feb. 02, 2015 |
Consideration received: | ||
Cash | $35,916 | |
Cash held in escrow | 9,000 | 9,000 |
Principal payment on Senior Credit Facility | 240,472 | |
Total consideration received | 285,388 | |
Carrying value of assets and liabilities sold: | ||
Equity investment in AWN | 250,192 | |
Assets and liabilities, net | 13,862 | |
Net change in deferred capacity revenue | -18,385 | |
Total carrying value of assets and liabilities sold | 245,669 | |
Gain on disposal of assets | $39,719 |
Sale_of_Wireless_Operations_Sc
Sale of Wireless Operations - Schedule of Reconciliation of Major Classes of Assets and Liabilities Held for Sale (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Current assets: | ||
Accounts receivable, non-affiliates, net | $7,607 | |
Materials and supplies | 1,958 | |
Total current assets held-for-sale | 9,565 | |
Property, plant and equipment, net of accumulated depreciation of $2,045 and $8,835 | 2,523 | 14,664 |
Total non-current assets held-for-sale | 2,523 | 14,664 |
Current liabilities: | ||
Current portion of long-term obligations | 299 | 287 |
Advance billings and customer deposits | 3,729 | |
Total current liabilities held-for-sale | 299 | 18,728 |
Total non-current liabilities held-for-sale | 2,050 | 2,107 |
Total non-current liabilities held-for-sale | 2,050 | 2,107 |
Non-affiliates [Member] | ||
Current liabilities: | ||
Accounts payable, accrued and other current liabilities | 301 | |
Affiliates [Member] | ||
Current liabilities: | ||
Accounts payable, accrued and other current liabilities | $14,411 |
Sale_of_Wireless_Operations_Sc1
Sale of Wireless Operations - Schedule of Reconciliation of Major Classes of Assets and Liabilities Held for Sale (Parenthetical) (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Discontinued Operations and Disposal Groups [Abstract] | ||
Accumulated depreciation of property, plant and equipment, net | $2,045 | $8,835 |
Sale_of_Wireless_Operations_Sc2
Sale of Wireless Operations - Schedule of Company's Current Obligations for Exit Activities (Detail) (USD $) | 3 Months Ended |
In Thousands, unless otherwise specified | Mar. 31, 2015 |
Restructuring Cost and Reserve [Line Items] | |
Balance, December 31, 2014 | $490 |
Charged to expense | 2,485 |
Paid and/or settled | -749 |
Balance, March 31, 2015 | 2,226 |
Labor Obligations [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Balance, December 31, 2014 | 490 |
Charged to expense | 2,485 |
Paid and/or settled | -749 |
Balance, March 31, 2015 | $2,226 |
Equity_Method_Investments_Addi
Equity Method Investments - Additional Information (Detail) (USD $) | Mar. 31, 2015 | Feb. 01, 2015 | Dec. 31, 2014 |
Schedule of Equity Method Investments [Line Items] | |||
Equity method investments | $0 | $252,067,000 | |
Alaska Wireless Network, LLC [Member] | |||
Schedule of Equity Method Investments [Line Items] | |||
Percentage ownership interest in equity method investment | 0.00% | 33.33% | 33.00% |
Equity method investments | $250,192,000 | $252,067,000 |
Equity_Method_Investments_Sche
Equity Method Investments - Schedule of Company's Ownership Interest and Investment (Detail) (USD $) | Mar. 31, 2015 | Feb. 01, 2015 | Dec. 31, 2014 |
Schedule of Equity Method Investments [Line Items] | |||
Equity method investments | $0 | $252,067,000 | |
Alaska Wireless Network, LLC [Member] | |||
Schedule of Equity Method Investments [Line Items] | |||
Percentage ownership interest in equity method investment | 0.00% | 33.33% | 33.00% |
Equity method investments | $250,192,000 | $252,067,000 |
Equity_Method_Investments_Summ
Equity Method Investments - Summarized Financial Information (Detail) (USD $) | 3 Months Ended | ||
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | Dec. 31, 2014 |
Schedule of Equity Method Investments [Line Items] | |||
Current assets | $121,543 | $187,782 | |
Current liabilities | 85,228 | 97,965 | |
Equity | 153,616 | 135,126 | |
Operating revenues | 65,786 | 78,331 | |
Operating income | 39,313 | 8,250 | |
Net income | 16,217 | -385 | |
Alaska Wireless Network, LLC [Member] | |||
Schedule of Equity Method Investments [Line Items] | |||
Current assets | 139,237 | ||
Non-current assets | 554,608 | ||
Current liabilities | 91,247 | ||
Non-current liabilities | 21,505 | ||
Equity | 581,093 | ||
Operating revenues | 21,457 | 63,037 | |
Gross profit | 15,745 | 43,918 | |
Operating income | 9,757 | 26,969 | |
Net income | 9,722 | 26,877 | |
Adjusted free cash flow | $10,805 | $34,501 |
Fair_Value_Measurements_Additi
Fair Value Measurements - Additional Information (Detail) (USD $) | 0 Months Ended | 3 Months Ended | 0 Months Ended | ||
In Thousands, unless otherwise specified | Mar. 31, 2015 | Dec. 04, 2014 | Mar. 31, 2015 | Mar. 31, 2014 | Feb. 02, 2015 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Long-term obligations | $192,742 | $192,742 | $433,968 | ||
Capital leases | 2,349 | 2,349 | |||
Notional amounts of floating-to-fixed interest rate swaps, one | 115,500 | ||||
Notional amounts of floating-to-fixed interest rate swaps, two | 77,000 | ||||
Interest rate of floating-to-fixed interest rate swaps, one | 7.22% | 7.22% | |||
Interest rate of floating-to-fixed interest rate swaps, two | 7.23% | 7.23% | |||
LIBOR spread | 4.75% | 4.75% | |||
Commencing swap date | 30-Jun-12 | ||||
Expiry date | 30-Sep-15 | ||||
Amount of Senior Credit Facility to be paid related to sale | 241,718 | 13,354 | |||
Notional amounts of floating-to-fixed interest rate swaps, over-hedged | 110,268 | ||||
Notional amounts of floating-to-fixed interest rate swaps, over-hedged percentage | 95.50% | ||||
Change in fair value credited to interest expense | 267 | ||||
Notional amounts of floating-to-fixed interest rate swaps | 192,500 | 192,500 | |||
Estimated fair value | 41,287 | ||||
Service obligation | 40,964 | 40,964 | |||
Minimum [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Amortized to revenue contract life | 10 years | ||||
Maximum [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Amortized to revenue contract life | 30 years | ||||
Estimated Value [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Fair value of long-term obligations | 192,209 | 192,209 | |||
Carrying Values [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Long-term obligations | 195,091 | 195,091 | |||
2010 Senior Credit Facility Term Loan Due 2016 [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Long-term obligations | 81,292 | 81,292 | 322,700 | ||
Amount of Senior Credit Facility to be paid related to sale | $240,472 | 240,472 |
Fair_Value_Measurements_Balanc
Fair Value Measurements - Balances of Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) (Interest Rate Swaps [Member], USD $) | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Other long-term liabilities | ($950) | ($1,416) | ($2,750) | ($3,234) |
Level 2 [Member] | ||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
Other long-term liabilities | ($950) | ($1,416) |
Fair_Value_Measurements_Schedu
Fair Value Measurements - Schedule of Floating-to-Fixed Interest Rate Swaps (Detail) (USD $) | 0 Months Ended | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2015 | Mar. 31, 2014 |
Derivative Instruments and Hedging Activities Disclosures [Line Items] | |||
Change in fair value credited to interest expense | $267 | ||
Interest Rate Swaps [Member] | |||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | |||
Beginning Balance | 1,416 | 3,234 | |
Reclassified from accumulated other comprehensive loss to other long-term liabilities | -199 | -484 | |
Change in fair value credited to interest expense | -267 | ||
Ending Balance | $950 | $950 | $2,750 |
Fair_Value_Measurements_Schedu1
Fair Value Measurements - Schedule of Valuation Techniques to Measure Fair Value of Service Obligation and Significant Unobservable Inputs and Values (Detail) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Feb. 02, 2015 |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Estimated fair value | $41,287 | |
Level 3 [Member] | Deferred Capacity Revenue [Member] | Cost/Replacement Value and Discounted Cash Flow [Member] | Weighted Average Cost of Capital [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Estimated fair value | $41,287 | |
Valuation Technique | Cost/Replacement Value and Discounted Cash Flow | |
Significant Input Values, rate | 11.00% | |
Level 3 [Member] | Deferred Capacity Revenue [Member] | Cost/Replacement Value and Discounted Cash Flow [Member] | Cost trend factor [Member] | Minimum [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Significant Input Values, rate | 1.00% | |
Level 3 [Member] | Deferred Capacity Revenue [Member] | Cost/Replacement Value and Discounted Cash Flow [Member] | Cost trend factor [Member] | Maximum [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Significant Input Values, rate | 4.00% | |
Level 3 [Member] | Deferred Capacity Revenue [Member] | Cost/Replacement Value and Discounted Cash Flow [Member] | Estimated % used by GCI [Member] | Minimum [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Significant Input Values, rate | 1.00% | |
Level 3 [Member] | Deferred Capacity Revenue [Member] | Cost/Replacement Value and Discounted Cash Flow [Member] | Estimated % used by GCI [Member] | Maximum [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Significant Input Values, rate | 100.00% | |
Level 3 [Member] | Deferred Capacity Revenue [Member] | Cost/Replacement Value and Discounted Cash Flow [Member] | Historical cost of underlying assets [Member] | ||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||
Significant Input Values, description | ActualB cost |
Current_Liabilities_Schedule_o
Current Liabilities - Schedule of Accounts Payable, Accrued and Other Current Liabilities, Non-Affiliates (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Payables and Accruals [Abstract] | ||
Accrued payroll, benefits, and related liabilities | $22,275 | $18,086 |
Accounts payable - trade | 17,284 | 25,672 |
Income taxes payable | 13,613 | |
Contingent sale proceeds held in escrow | 9,000 | |
Other | 13,701 | 10,615 |
Total accounts payable, accrued and other current liabilities | $75,873 | $54,373 |
Current_Liabilities_Schedule_o1
Current Liabilities - Schedule of Advance Billings and Customer Deposits (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 |
In Thousands, unless otherwise specified | ||
Statement of Financial Position [Abstract] | ||
Advance billings | $4,641 | $4,449 |
Customer deposits | 31 | 41 |
Customer advances and deposits, current, total | $4,672 | $4,490 |
LongTerm_Obligations_Schedule_
Long-Term Obligations - Schedule of Long-Term Obligations (Detail) (USD $) | Mar. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2014 |
In Thousands, unless otherwise specified | |||
Debt Instrument [Line Items] | |||
Capital leases and other long-term obligations | $5,318 | $5,524 | |
Long-term obligations | 192,742 | 433,968 | |
Long-term obligations | 192,742 | 433,968 | |
Less current portion | -4,384 | -15,521 | |
Long-term obligations, net of current portion | 188,358 | 418,447 | 418,447 |
2010 Senior Credit Facility Term Loan Due 2016 [Member] | |||
Debt Instrument [Line Items] | |||
Long-term obligations | 81,292 | 322,700 | |
Long-term obligations | 81,292 | 322,700 | |
Debt instrument unamortized discount | -1,156 | -1,014 | |
6.25% Convertible Notes Due 2018 [Member] | |||
Debt Instrument [Line Items] | |||
Long-term obligations | 114,000 | 114,000 | |
Long-term obligations | 114,000 | 114,000 | |
Debt instrument unamortized discount | ($6,712) | ($7,242) |
LongTerm_Obligations_Schedule_1
Long-Term Obligations - Schedule of Long-Term Obligations (Parenthetical) (Detail) | 3 Months Ended |
Mar. 31, 2015 | |
2010 Senior Credit Facility Term Loan Due 2016 [Member] | |
Debt Instrument [Line Items] | |
Maturity year of senior credit facility term loan - start | 21-Oct-10 |
Maturity year of convertible notes | 21-Oct-16 |
6.25% Convertible Notes Due 2018 [Member] | |
Debt Instrument [Line Items] | |
Interest rate of convertible notes | 6.25% |
Maturity year of convertible notes | 1-May-18 |
LongTerm_Obligations_Schedule_2
Long-Term Obligations - Schedule of Aggregate Maturities of Long-term Obligations (Detail) (USD $) | Mar. 31, 2015 |
In Thousands, unless otherwise specified | |
Debt Disclosure [Abstract] | |
2015 (April 1 - December 31) | $3,622 |
2016 (January 1 - December 31) | 79,589 |
2017 (January 1 - December 31) | 829 |
2018 (January 1 - December 31) | 114,621 |
2019 (January 1 - December 31) | 392 |
2020 (January 1 - December 31) | 166 |
Thereafter | 3,740 |
Total | $202,959 |
LongTerm_Obligations_Additiona
Long-Term Obligations - Additional Information (Detail) (USD $) | 3 Months Ended | 0 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | Feb. 02, 2015 |
Debt Instrument [Line Items] | |||
Principal payment | $241,718 | $13,354 | |
January One Two Thousand Fifteen [Member] | Maximum [Member] | |||
Debt Instrument [Line Items] | |||
Reduced principal payment | 3,675 | ||
January One Two Thousand Fifteen [Member] | Minimum [Member] | |||
Debt Instrument [Line Items] | |||
Reduced principal payment | 936 | ||
January One Two Thousand Sixteen [Member] | Maximum [Member] | |||
Debt Instrument [Line Items] | |||
Reduced principal payment | 3,300 | ||
January One Two Thousand Sixteen [Member] | Minimum [Member] | |||
Debt Instrument [Line Items] | |||
Reduced principal payment | 841 | ||
Senior Secured Credit Facilities [Member] | |||
Debt Instrument [Line Items] | |||
Principal payment | 240,472 | ||
Capital Leases and Other Long-term Obligations [Member] | |||
Debt Instrument [Line Items] | |||
Maturity amount associated with capital leases | $2,349 |
Long_Term_Obligations_Schedule
Long -Term Obligations - Schedule of Senior Credit Facility Terms Second Amendment Comparison with First Amendment (Detail) | 3 Months Ended |
Mar. 31, 2015 | |
First Amendment [Member] | LIBOR [Member] | |
Debt Instrument [Line Items] | |
Interest rate, Margin over LIBOR | 4.75% |
Interest rate, LIBOR floor | 1.50% |
First Amendment [Member] | March 31, 2015 and thereafter [Member] | |
Debt Instrument [Line Items] | |
Total Leverage to Adjusted EBITDA Ratio Limit | 5.25% |
Senior Secured Leverage to Adjusted EBITDA Ratio Limit | 4.25% |
First Amendment [Member] | March 31, 2015 through September 15, 2015 [Member] | |
Debt Instrument [Line Items] | |
Adjusted EBITDA to Fixed Charges Coverage Ratio Minimum | 2.50% |
First Amendment [Member] | December 31, 2015 and thereafter [Member] | |
Debt Instrument [Line Items] | |
Adjusted EBITDA to Fixed Charges Coverage Ratio Minimum | 2.75% |
Second Amendment [Member] | LIBOR [Member] | |
Debt Instrument [Line Items] | |
Interest rate, Margin over LIBOR | 4.75% |
Interest rate, LIBOR floor | 1.50% |
Second Amendment [Member] | March 31, 2015 and thereafter [Member] | |
Debt Instrument [Line Items] | |
Total Leverage to Adjusted EBITDA Ratio Limit | 5.25% |
Senior Secured Leverage to Adjusted EBITDA Ratio Limit | 3.00% |
Second Amendment [Member] | March 31, 2015 through September 15, 2015 [Member] | |
Debt Instrument [Line Items] | |
Adjusted EBITDA to Fixed Charges Coverage Ratio Minimum | 2.00% |
Second Amendment [Member] | December 31, 2015 and thereafter [Member] | |
Debt Instrument [Line Items] | |
Adjusted EBITDA to Fixed Charges Coverage Ratio Minimum | 2.00% |
Accumulated_Other_Comprehensiv2
Accumulated Other Comprehensive Loss - Summary of Activity in Accumulated Other Comprehensive Loss (Detail) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Beginning Balance | ($5,151) | |
Other comprehensive income before reclassifications | 130 | |
Reclassifications from accumulated comprehensive loss to net income | 1,315 | |
Total other comprehensive income | 1,445 | 763 |
Ending Balance | -3,706 | |
Interest Rate Swaps [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Beginning Balance | -1,512 | |
Other comprehensive income before reclassifications | 118 | |
Reclassifications from accumulated comprehensive loss to net income | 1,154 | |
Total other comprehensive income | 1,272 | |
Ending Balance | -240 | |
Defined Benefit Pension Plans [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Beginning Balance | -3,639 | |
Other comprehensive income before reclassifications | 12 | |
Reclassifications from accumulated comprehensive loss to net income | 161 | |
Total other comprehensive income | 173 | |
Ending Balance | ($3,466) |
Accumulated_Other_Comprehensiv3
Accumulated Other Comprehensive Loss - Additional Information (Detail) (Interest Expense [Member], Next Twelve Months [Member], USD $) | 3 Months Ended |
In Thousands, unless otherwise specified | Mar. 31, 2015 |
Interest Expense [Member] | Next Twelve Months [Member] | |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |
Accumulated other comprehensive loss to be reclassified to interest expense | $0 |
Stock_Incentive_Plans_Summary_
Stock Incentive Plans - Summary of Activity for Restricted Stock Units, Long-Term Incentive Awards and Non-Employee Director Stock Compensation (Detail) (Restricted Stock Unit [Member], USD $) | 3 Months Ended |
In Thousands, except Per Share data, unless otherwise specified | Mar. 31, 2015 |
Restricted Stock Unit [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, 2014 | 1,299 |
Number of Shares - Granted | 902 |
Number of Shares - Vested | -585 |
Number of Shares - Canceled or expired | -75 |
Number of Shares - Nonvested at March 31, 2015 | 1,541 |
Weighted Average Grant Date Fair Value - Nonvested at December 31, 2014 | $2.30 |
Weighted Average Grant Date Fair Value - Granted | $1.69 |
Weighted Average Grant Date Fair Value - Vested | $2.71 |
Weighted Average Grant Date Fair Value - Canceled or expired | $1.92 |
Weighted Average Grant Date Fair Value - Nonvested at March 31, 2015 | $1.81 |
Stock_Incentive_Plans_Summary_1
Stock Incentive Plans - Summary of Activity for Performance Share Units (Detail) (Performance Share Units [Member], USD $) | 3 Months Ended |
In Thousands, except Per Share data, unless otherwise specified | Mar. 31, 2015 |
Performance Share Units [Member] | |
Summary of activity for performance share units | |
Number of Shares - Nonvested at December 31, 2014 | 790 |
Number of Shares - Granted | 846 |
Number of Shares - Vested | -257 |
Number of Shares - Canceled or expired | -191 |
Number of Shares - Nonvested at March 31, 2015 | 1,188 |
Weighted Average Grant Date Fair Value - Nonvested at December 31, 2014 | $3.32 |
Weighted Average Grant Date Fair Value - Granted | $1.69 |
Weighted Average Grant Date Fair Value - Vested | $1.70 |
Weighted Average Grant Date Fair Value - Canceled or expired | $1.96 |
Weighted Average Grant Date Fair Value - Nonvested at March 31, 2015 | $2.73 |
Stock_Incentive_Plans_Summary_2
Stock Incentive Plans - Summary of Assumptions Used for Valuation of Equity Instruments Granted (Detail) (Restricted Stock [Member]) | 3 Months Ended | |
Mar. 31, 2015 | Mar. 31, 2014 | |
Restricted Stock [Member] | ||
Restricted stock: | ||
Risk free rate | 0.00% | |
Risk free rate, minimum | 0.03% | |
Risk free rate, maximum | 0.19% | |
Expected annual forfeiture rate | 9.00% | 9.00% |
Stock_Incentive_Plans_ShareBas
Stock Incentive Plans - Share-Based Compensation (Detail) (USD $) | 3 Months Ended | |
In Thousands, except Per Share data, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ||
Total compensation cost for share-based payments | $484 | $653 |
Weighted average grant-date fair value of equity instruments granted (per share) | $1.69 | $1.89 |
Total grant date fair value of shares vested during the period | 2,252 | 2,716 |
Unamortized share-based payments | $3,109 | $2,587 |
Weighted average period (in years) to be recognized as expense | 1 year 9 months 18 days | 1 year 8 months 12 days |
Earnings_Per_Share_Additional_
Earnings Per Share - Additional Information (Detail) (USD $) | 3 Months Ended | 12 Months Ended | |
In Thousands, except Share data, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | Dec. 31, 2014 |
6.25% Convertible Notes Due 2018 [Member] | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Interest rate of convertible notes | 6.25% | ||
Maturity year of convertible notes | 1-May-18 | ||
Shares received upon conversion | 97.2668 | ||
Principal amount for initial conversion | $1,000 | ||
Initial conversion price | $10.28 | ||
Convertible note, convertible beginning date | 1-Feb-18 | ||
Convertible Notes Payable [Member] | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Anti-dilutive shares excluded from calculation | 11,088,000 | 11,088,000 | |
TekMate, LLC [Member] | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Percentage of ownership interest in equity method investments | 51.00% | ||
Consideration payable in cash or stock | $800 | ||
Options, Restricted Stock and Deferred Shares [Member] | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Anti-dilutive shares excluded from calculation | 2,296,000 |
Earnings_Per_Share_Calculation
Earnings Per Share - Calculation of Basic and Diluted Earnings Per Share (Detail) (USD $) | 3 Months Ended | |
In Thousands, except Per Share data, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Earnings Per Share, Basic and Diluted [Abstract] | ||
Net income (loss) applicable to common shares | $16,217 | ($385) |
Weighted average common shares outstanding: | ||
Basic shares | 49,916 | 48,913 |
Effect of stock-based compensation | 779 | |
Diluted shares | 50,695 | 48,913 |
Earnings per share: | ||
Basic | $0.32 | ($0.01) |
Diluted | $0.32 | ($0.01) |
Retirement_Plans_Summary_of_Ne
Retirement Plans - Summary of Net Periodic Pension Expense for ACS Retirement Plan (Detail) (USD $) | 3 Months Ended | |
In Thousands, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 |
Compensation and Retirement Disclosure [Abstract] | ||
Interest cost | $166 | $160 |
Expected return on plan assets | -187 | -180 |
Amortization of loss | 294 | 204 |
Net periodic pension expense | $273 | $184 |
Business_Segments_Additional_I
Business Segments - Additional Information (Detail) | 3 Months Ended |
Mar. 31, 2015 | |
Segment | |
Segment Reporting [Abstract] | |
Number of reportable segments in which business operates | 1 |
Commitments_and_Contingencies_
Commitments and Contingencies - Additional Information (Detail) (USD $) | 3 Months Ended |
In Thousands, unless otherwise specified | Mar. 31, 2015 |
Commitments and Contingencies Disclosure [Abstract] | |
Litigation costs | $547 |
Restricted cash held in escrow | $9,000 |