Mediacom Broadband 10-Q 3 Nov 17 2017 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information	9 Months Ended
	Sep. 30, 2017shares
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q3
Trading Symbol	MCCCB
Entity Registrant Name	MEDIACOM BROADBAND LLC
Entity Central Index Key	1,161,364
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding	0

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
CURRENT ASSETS
Cash	$ 10,663	$ 14,208
Accounts receivable, net of allowance for doubtful accounts of $3,570 and $3,857	69,204	67,724
Prepaid expenses and other current assets	20,497	14,562
Total current assets	100,364	96,494
Property, plant and equipment, net of accumulated depreciation of $1,694,126 and $1,619,301	844,943	816,389
Franchise rights	1,176,908	1,176,908
Goodwill	195,945	195,945
Other assets, net of accumulated amortization of $4,586 and $4,101	10,381	6,418
Total assets	2,328,541	2,292,154
CURRENT LIABILITIES
Accounts payable, accrued expenses and other current liabilities	160,388	154,818
Accounts payable - affiliates	22,887	14,852
Deferred revenue	41,403	39,856
Current portion of long-term debt	13,575	16,575
Total current liabilities	238,253	226,101
Long-term debt, net (less current portion)	1,448,535	1,597,075
Other non-current liabilities	1,443	1,486
Total liabilities	1,688,231	1,824,662
Commitments and contingencies (Note 10)
PREFERRED MEMBERS' INTEREST (Note 7)	150,000	150,000
MEMBER'S EQUITY
Capital contributions (distributions)	17,001	(37,348)
Retained earnings	473,309	354,840
Total member's equity	490,310	317,492
Total liabilities, preferred members' interest and member's equity	$ 2,328,541	$ 2,292,154

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 3,570	$ 3,857
Accumulated depreciation on property, plant and equipment	1,694,126	1,619,301
Accumulated amortization on other assets	$ 4,586	$ 4,101

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Income Statement [Abstract]
Revenues	$ 265,037	$ 258,699	$ 792,450	$ 770,285
Costs and expenses:
Service costs (exclusive of depreciation and amortization)	110,885	106,127	330,877	316,015
Selling, general and administrative expenses	50,256	50,600	146,394	145,701
Management fee expense	5,650	5,350	16,315	15,450
Depreciation and amortization	37,896	37,254	112,493	108,157
Operating income	60,350	59,368	186,371	184,962
Interest expense, net	(17,121)	(19,240)	(52,919)	(59,781)
Gain (loss) on derivatives, net	550	4,365	1,459	(4,313)
Loss on early extinguishment of debt (Note 6)			(1,966)	(1,156)
Other expense, net	(262)	(383)	(976)	(1,297)
Net income	43,517	44,110	131,969	118,415
Dividend to preferred members (Note 7)	(4,500)	(4,500)	(13,500)	(13,500)
Net income applicable to member	$ 39,017	$ 39,610	$ 118,469	$ 104,915

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 131,969	$ 118,415
Adjustments to reconcile net income to net cash flows provided by operating activities:
Depreciation and amortization	112,493	108,157
(Gain) loss on derivatives, net	(1,459)	4,313
Loss on early extinguishment of debt	1,966	1,156
Amortization of deferred financing costs	2,837	4,325
Changes in assets and liabilities:
Accounts receivable, net	(1,480)	2,436
Prepaid expenses and other assets	(10,760)	(1,984)
Accounts payable, accrued expenses and other current liabilities	125	10,425
Accounts payable - affiliates	8,035	1,114
Deferred revenue	1,547	1,749
Other non-current liabilities	(43)	(94)
Net cash flows provided by operating activities	245,230	250,012
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures	(141,254)	(131,480)
Change in accrued property, plant and equipment	2,019	(503)
Proceeds from sale of assets	424	159
Net cash flows used in investing activities	(138,811)	(131,824)
CASH FLOWS FROM FINANCING ACTIVITIES:
New borrowings of bank debt	437,538	328,431
Repayment of bank debt	(593,538)	(503,181)
Dividend payments on preferred members' interest (Note 7)	(13,500)	(13,500)
Capital contributions from parent (Note 8)	60,000	75,000
Capital distributions to parent (Note 8)	(5,750)	(6,175)
Other financing activities	5,286	759
Net cash flows used in financing activities	(109,964)	(118,666)
Net change in cash	(3,545)	(478)
CASH, beginning of period	14,208	10,442
CASH, end of period	10,663	9,964
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
Cash paid during the period for interest, net of amounts capitalized	$ 45,804	$ 53,906

Organization

Organization	9 Months Ended
	Sep. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	1. ORGANIZATION Basis of Preparation of Unaudited Consolidated Financial Statements Mediacom Broadband LLC (“Mediacom Broadband,” and collectively with its subsidiaries, “we,” “our” or “us”) is a Delaware limited liability company wholly-owned by Mediacom Communications Corporation (“MCC”). MCC is involved in the acquisition and operation of cable systems serving smaller cities and towns in the United States, and its cable systems are owned and operated through our operating subsidiaries and those of Mediacom LLC, a New York limited liability company wholly-owned by MCC. As limited liability companies, we and Mediacom LLC are not subject to income taxes and, as such, are included in the consolidated federal and state income tax returns of MCC, a C corporation. Our principal operating subsidiaries conduct all of our consolidated operations and own substantially all of our consolidated assets. Our operating subsidiaries are separate and distinct legal entities and have no obligation, contingent or otherwise, to make funds available to us. We rely on our parent, MCC, for various services such as corporate and administrative support. Our financial position, results of operations and cash flows could differ from those that would have resulted had we operated autonomously or as an entity independent of MCC. See Notes 8 and 9. We have prepared these unaudited consolidated financial statements in accordance with the rules and regulations of the Securities and Exchange Commission (the “SEC”). In the opinion of management, such statements include all adjustments, consisting of normal recurring accruals and adjustments, necessary for a fair statement of our consolidated results of operations, financial position, and cash flows for the interim periods presented. The accounting policies followed during such interim periods reported are in conformity with generally accepted accounting principles in the United States of America and are consistent with those applied during annual periods. For a summary of our accounting policies and other information, refer to our Annual Report on Form 10-K Mediacom Broadband Corporation (“Broadband Corporation”), a Delaware corporation wholly-owned by us, co-issued, one-hundred Franchise fees imposed by local governmental authorities are collected on a monthly basis from our customers and are periodically remitted to the local governmental authorities. Because franchise fees are our obligation, we present them on a gross basis within revenues with a corresponding operating expense. Franchise fees reported on a gross basis amounted to $5.5 million and $5.8 million for the three months ended September 30, 2017 and 2016, respectively, and $16.6 million and $17.6 million for the nine months ended September 30, 2017 and 2016, respectively.

Recent Accounting Pronouncement

Recent Accounting Pronouncements	9 Months Ended
	Sep. 30, 2017
Accounting Changes and Error Corrections [Abstract]
Recent Accounting Pronouncements	2. RECENT ACCOUNTING PRONOUNCEMENTS In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09 2014-09”) Revenue from Contracts with Customers Financial Reporting by Cable Television Companies No. 2015-14, Revenue from Contracts with Customers 2014-09 2014-09 In February 2016, the FASB issued ASU 2016-02— Leases 2016-02”). 2016-02 off-balance 2016-02 In August 2016, the FASB issued ASU 2016-15 Statement of Cash Flows – Clarification of Certain Cash Receipts and Cash Payments 2016-15”). 2016-15 2016-15 2016-15 In January 2017, the FASB issued ASU 2017-04 Intangibles – Goodwill and Other 2017-04”). 2017-04 2017-04

Fair Value

Fair Value	9 Months Ended
	Sep. 30, 2017
Fair Value Disclosures [Abstract]
Fair Value	3. FAIR VALUE The tables below set forth our financial assets and liabilities measured at fair value on a recurring basis using a market-based approach. Our financial assets and liabilities, all of which represent interest rate exchange agreements (which we refer to as “interest rate swaps”) have been categorized according to the three-level fair value hierarchy established by Accounting Standards Codification (“ASC”) No. 820 — Fair Value Measurement • Level 1 — Quoted market prices in active markets for identical assets or liabilities. • Level 2 — Observable market based inputs or unobservable inputs that are corroborated by market data. • Level 3 — Unobservable inputs that are not corroborated by market data. Fair Value as of September 30, 2017 Level 1 Level 2 Level 3 Total Assets Interest rate exchange agreements $ — $ 785 $ — $ 785 Liabilities Interest rate exchange agreements $ — $ — $ — $ — Fair Value as of December 31, 2016 Level 1 Level 2 Level 3 Total Assets Interest rate exchange agreements $ — $ 1,089 $ — $ 1,089 Liabilities Interest rate exchange agreements $ — $ 1,763 $ — $ 1,763 The fair value of our interest rate swaps represents the estimated amount that we would receive or pay to terminate such agreements, taking into account projected interest rates, based on quoted London Interbank Offered Rate (“LIBOR”) futures and the remaining time to maturity. While our interest rate swaps are subject to contractual terms that provide for the net settlement of transactions with counterparties, we do not offset assets and liabilities under these agreements for financial statement presentation purposes, and assets and liabilities are reported on a gross basis. As of September 30, 2017, we recorded a current asset of $0.5 million and a long-term asset of $0.3 million. As of December 31, 2016, we recorded a long-term asset of $1.1 million and a current liability in accounts payable, accrued expenses and other current liabilities of $1.8 million. As a result of the changes in the mark-to-market

Property, Plant and Equipment

Property, Plant and Equipment	9 Months Ended
	Sep. 30, 2017
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	4. PROPERTY, PLANT AND EQUIPMENT Property, plant and equipment consisted of the following (dollars in thousands): September 30, December 31, Cable systems, equipment and customer devices $ 2,413,911 $ 2,314,715 Vehicles 45,920 42,334 Buildings and leasehold improvements 37,267 36,708 Furniture, fixtures and office equipment 34,186 34,092 Land and land improvements 7,785 7,841 Property, plant and equipment, gross $ 2,539,069 $ 2,435,690 Accumulated depreciation (1,694,126 ) (1,619,301 ) Property, plant and equipment, net $ 844,943 $ 816,389

Accounts Payable, Accrued Expen

Accounts Payable, Accrued Expenses and Other Current Liabilities	9 Months Ended
	Sep. 30, 2017
Payables and Accruals [Abstract]
Accounts Payable, Accrued Expenses and Other Current Liabilities	5. ACCOUNTS PAYABLE, ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES Accounts payable, accrued expenses and other current liabilities consisted of the following (dollars in thousands): September 30, December 31, Accounts payable - trade $ 33,717 $ 42,094 Accrued programming costs 29,085 25,856 Accrued taxes and fees 17,071 17,212 Accrued interest 14,701 10,080 Accrued payroll and benefits 14,373 13,795 Advance customer payments 14,148 13,902 Bank overdrafts (1) 12,575 7,387 Accrued property, plant and equipment 6,969 4,950 Accrued service costs 6,586 6,810 Accrued administrative costs 5,751 5,381 Accrued marketing costs 3,418 3,193 Accrued telecommunications costs 784 878 Liabilities under interest rate exchange agreements — 1,763 Other accrued expenses 1,210 1,517 Accounts payable, accrued expenses and other current liabilities $ 160,388 $ 154,818 (1) Bank overdrafts represent outstanding checks in excess of funds on deposit at our disbursement accounts. We transfer funds from our depository accounts to our disbursement accounts upon daily notification of checks presented for payment. Changes in bank overdrafts are reported in “other financing activities” in our Consolidated Statements of Cash Flows.

Debt

Debt	9 Months Ended
	Sep. 30, 2017
Debt Disclosure [Abstract]
Debt	6. DEBT Outstanding debt consisted of the following (dollars in thousands): September 30, December 31, Bank credit facility $ 972,000 $ 1,128,000 5 1 2 200,000 200,000 6 3 8 300,000 300,000 Total debt $ 1,472,000 $ 1,628,000 Less: current portion 13,575 16,575 Total long-term debt, gross (less current portion) $ 1,458,425 $ 1,611,425 Less: deferred financing costs, net 9,890 14,350 Total long-term debt, net (less current portion) $ 1,448,535 $ 1,597,075 2017 Financing Activity On June 30, 2017, we repaid the entire $291.8 million balance of Term Loan J under our bank credit facility (the “credit facility”). This repayment was funded by $231.8 million of borrowings under our revolving credit commitments and $60.0 million of capital contributions by our parent, MCC, which, in turn, received such contributions from Mediacom LLC on the same date. We recorded a loss on early extinguishment of debt of $2.0 million for the nine months ended September 30, 2017, which represented the write-off Subsequent to September 30, 2017, we entered into a new amended and restated credit agreement (the “new credit agreement”) under our bank credit facility. See Note 12. Bank Credit Facility As of September 30, 2017, we maintained a $1.081 billion credit facility, comprising: • $368.5 million of revolving credit commitments, which expire on October 10, 2019; • $138.2 million of outstanding borrowings under Term Loan A, which mature on January 15, 2021; • $574.5 million of outstanding borrowings under Term Loan H, which mature on January 29, 2021; As of September 30, 2017, we had $99.6 million of unused revolving credit commitments, all of which were available to be borrowed and used for general corporate purposes, after giving effect to approximately $259.3 million of outstanding loans and $9.7 million of letters of credit issued thereunder to various parties as collateral. The credit facility is collateralized by our ownership interests in our operating subsidiaries and is guaranteed by us on a limited recourse basis to the extent of such ownership interests. As of September 30, 2017, the credit agreement governing the credit facility (the “credit agreement”) required our operating subsidiaries to maintain a total leverage ratio (as defined in the credit agreement) of no more than 5.0 to 1.0 and an interest coverage ratio (as defined in the credit agreement) of no less than 2.0 to 1.0. For all periods through September 30, 2017, our operating subsidiaries were in compliance with all covenants under the credit agreement. As of the same date, the credit agreement allowed for the full or partial repayment of any outstanding debt under the credit facility at par value at any time prior to maturity. Interest Rate Swaps We have entered into several interest rate exchange agreements (which we refer to as “interest rate swaps”) with various banks to fix the variable rate on a portion of our borrowings under the credit facility to reduce the potential volatility in our interest expense that may result from changes in market interest rates. Our interest rate swaps have not been designated as hedges for accounting purposes, and have been accounted for on a mark-to-market As of September 30, 2017, the weighted average interest rate on outstanding borrowings under the credit facility, including the effect of our interest rate swaps, was 3.6%. Senior Notes As of September 30, 2017, we had $500 million of outstanding senior notes, comprising $200 million of 5 1 2 3 8 Debt Ratings MCC’s corporate credit ratings are currently Ba2 by Moody’s, with a positive outlook, and BB by Standard and Poor’s (“S&P”), with a stable outlook, and our senior unsecured ratings are currently B1 by Moody’s, with a positive outlook, and B+ by S&P, with a stable outlook. There are no covenants, events of default, borrowing conditions or other terms in the credit agreement or indentures that are based on changes in our credit rating assigned by any rating agency. Fair Value The fair values of our senior notes and outstanding debt under the credit facility (which were calculated based upon unobservable inputs that are corroborated by market data that we determine to be Level 2), were as follows (dollars in thousands): September 30, December 31, 5 1 2 $ 205,000 $ 205,500 6 3 8 313,500 316,500 Total senior notes $ 518,500 $ 522,000 Bank credit facility $ 977,745 $ 1,135,633

Preferred Members' Interest

Preferred Members' Interest	9 Months Ended
	Sep. 30, 2017
Equity Method Investments and Joint Ventures [Abstract]
Preferred Members' Interest	7. PREFERRED MEMBERS’ INTEREST In July 2001, we received a $150.0 million preferred membership investment (“PMI”) from the operating subsidiaries of Mediacom LLC, which has a 12% annual dividend, payable quarterly in cash. We may voluntarily repay the PMI any time at par, and the operating subsidiaries of Mediacom LLC have the option to call for the redemption of the PMI upon the repayment of all of our outstanding senior notes. We paid $4.5 million in cash dividends on the PMI during each of the three months ended September 30, 2017 and 2016, and $13.5 million in cash dividends on the PMI during each of the nine months ended September 30, 2017 and 2016.

Member's Equity

Member's Equity	9 Months Ended
	Sep. 30, 2017
Equity [Abstract]
Member's Equity	8. MEMBER’S EQUITY As a wholly-owned subsidiary of MCC, our business affairs, including our financing decisions, are directed by MCC. See Note 9. Capital distributions to parent and capital contributions from parent are reported on a gross basis in the Consolidated Statements of Cash Flows. We made capital distributions to parent in cash of $5.8 million and $6.2 million during the nine months ended September 30, 2017 and 2016, respectively. We received $60.0 million and $75.0 million in capital contributions from parent during the nine months ended September 30, 2017 and 2016, respectively.

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 2017
Related Party Transactions [Abstract]
Related Party Transactions	9. RELATED PARTY TRANSACTIONS MCC manages us pursuant to management agreements with our operating subsidiaries. Under such agreements, MCC has full and exclusive authority to manage our day-to-day As compensation for the performance of its services, subject to certain restrictions, MCC is entitled under each management agreement to receive management fees in an amount not to exceed 4.0% of the annual gross operating revenues of our operating subsidiaries. MCC is also entitled to the reimbursement of all expenses necessarily incurred in its capacity as manager. MCC charged us management fees of $5.7 million and $5.4 million for the three months ended September 30, 2017 and 2016, respectively, and $16.3 million and $15.5 million for the nine months ended September 30, 2017 and 2016, respectively. Mediacom LLC is a preferred equity investor in us. See Note 7.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2017
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	10. COMMITMENTS AND CONTINGENCIES Legal Proceedings We are involved in various legal actions arising in the ordinary course of business. In the opinion of management, the ultimate disposition of these matters is not expected to have a material adverse effect on our consolidated financial position, results of operations, cash flows or business.

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	9 Months Ended
	Sep. 30, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	11. GOODWILL AND OTHER INTANGIBLE ASSETS In accordance with the FASB’s ASC No. 350 — Intangibles — Goodwill and Other We last evaluated the factors surrounding our Mediacom Broadband reporting unit as of October 1, 2016 and did not believe that it was “more likely than not” that a goodwill impairment existed at that time. As such, we did not perform Step 2 of the goodwill impairment test. We last evaluated our other intangible assets as of October 1, 2016 and did not believe that it was “more likely than not” that an impairment existed at that time. Because we believe there has not been a meaningful change in the long-term fundamentals of our business during the first nine months of 2017, we determined that there has been no triggering event under ASC 350 and, as such, no interim impairment test was required for our goodwill and other intangible assets as of September 30, 2017.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2017
Subsequent Events [Abstract]
Subsequent Events	12. SUBSEQUENT EVENTS On November 2, 2017, our operating subsidiaries (the “operating subsidiaries”) entered into a Fourth Amended and Restated Credit Agreement, dated as of November 2, 2017, with the lenders party thereto and JPMorgan Chase Bank, N.A., as administrative agent for the lenders, governing the credit facility (the “new credit agreement”). The new credit agreement provides for: (i) term loans in the principal amount of $250.0 million (“Term Loan A-1”) A-1, The net proceeds of the new term loans were primarily used to: (i) repay the entire outstanding balances of $138.2 million and $574.5 million under Term Loan A and Term Loan H, respectively; (ii) repay the entire outstanding balance of $259.3 million under the old revolver and (iii) pay related financing fees and expenses. Borrowings under the new revolver bear interest at a floating rate or rates equal to, at the discretion of the operating subsidiaries, the London Interbank Offered Rate (“LIBOR”) plus a margin ranging from 1.75% to 2.75%, or the Prime Rate plus a margin ranging from 0.75% to 1.75%. Commitment fees on the unused portion of the new revolver are payable at a rate ranging from 0.25% to 0.50%. The applicable margin on outstanding borrowings, and commitment fees charged on the unused portion of the new revolver are determined by certain financial ratios pursuant to the new credit agreement. The new revolver expires on the earliest of: (i) November 2, 2022; (ii) 91 days prior to the final maturity of any term loan under the credit facility if $200.0 million or more remains outstanding under such term loan on that date; or (iii) six months prior to the scheduled maturity date of any affiliated subordinated indebtedness that is then outstanding. Borrowings under Term Loan A-1 A-1 Borrowings under Term Loan M bear interest at a floating rate or rates equal to, at the discretion of the operating subsidiaries, LIBOR plus a margin of 2.00%, subject to a minimum LIBOR of 0.75%, or the Prime Rate plus a margin of 1.00%, subject to a minimum Prime Rate of 1.75%. Term Loan M matures on January 15, 2025, and is subject to quarterly reductions of $2.0 million beginning on December 31, 2017. If on or before May 2, 2018, Term Loan M is prepaid from the proceeds of a substantially concurrent borrowing of term loans with an interest rate less than the interest rate applicable to Term Loan M (calculated as provided in the new credit agreement), then the prepayment shall be accompanied by a fee equal to 1.00% of the aggregate principal amount of Term Loan M so prepaid. The credit facility is collateralized by our ownership interests in our operating subsidiaries and is guaranteed by us on a limited recourse basis to the extent of such ownership interests. As of closing, the new credit agreement required the operating subsidiaries to maintain a total leverage ratio (as defined in the new credit agreement) of no more than 5.0 to 1.0 and an interest coverage ratio (as defined in the new credit agreement) of no less than 2.0 to 1.0. As of the same date, the new credit agreement allowed for the full or partial repayment of any outstanding debt under the credit facility at any time prior to maturity, subject to certain fees and conditions specified in the new credit agreement.

Organization (Policies)

Organization (Policies)	9 Months Ended
	Sep. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Preparation of Unaudited Consolidated Financial Statements	Basis of Preparation of Unaudited Consolidated Financial Statements Mediacom Broadband LLC (“Mediacom Broadband,” and collectively with its subsidiaries, “we,” “our” or “us”) is a Delaware limited liability company wholly-owned by Mediacom Communications Corporation (“MCC”). MCC is involved in the acquisition and operation of cable systems serving smaller cities and towns in the United States, and its cable systems are owned and operated through our operating subsidiaries and those of Mediacom LLC, a New York limited liability company wholly-owned by MCC. As limited liability companies, we and Mediacom LLC are not subject to income taxes and, as such, are included in the consolidated federal and state income tax returns of MCC, a C corporation. Our principal operating subsidiaries conduct all of our consolidated operations and own substantially all of our consolidated assets. Our operating subsidiaries are separate and distinct legal entities and have no obligation, contingent or otherwise, to make funds available to us. We rely on our parent, MCC, for various services such as corporate and administrative support. Our financial position, results of operations and cash flows could differ from those that would have resulted had we operated autonomously or as an entity independent of MCC. See Notes 8 and 9. We have prepared these unaudited consolidated financial statements in accordance with the rules and regulations of the Securities and Exchange Commission (the “SEC”). In the opinion of management, such statements include all adjustments, consisting of normal recurring accruals and adjustments, necessary for a fair statement of our consolidated results of operations, financial position, and cash flows for the interim periods presented. The accounting policies followed during such interim periods reported are in conformity with generally accepted accounting principles in the United States of America and are consistent with those applied during annual periods. For a summary of our accounting policies and other information, refer to our Annual Report on Form 10-K Mediacom Broadband Corporation (“Broadband Corporation”), a Delaware corporation wholly-owned by us, co-issued, one-hundred Franchise fees imposed by local governmental authorities are collected on a monthly basis from our customers and are periodically remitted to the local governmental authorities. Because franchise fees are our obligation, we present them on a gross basis within revenues with a corresponding operating expense. Franchise fees reported on a gross basis amounted to $5.5 million and $5.8 million for the three months ended September 30, 2017 and 2016, respectively, and $16.6 million and $17.6 million for the nine months ended September 30, 2017 and 2016, respectively.

Fair Value (Tables)

Fair Value (Tables)	9 Months Ended
	Sep. 30, 2017
Fair Value Disclosures [Abstract]
Fair Value of Interest Rate Swap Assets and Liabilities	Fair Value as of September 30, 2017 Level 1 Level 2 Level 3 Total Assets Interest rate exchange agreements $ — $ 785 $ — $ 785 Liabilities Interest rate exchange agreements $ — $ — $ — $ — Fair Value as of December 31, 2016 Level 1 Level 2 Level 3 Total Assets Interest rate exchange agreements $ — $ 1,089 $ — $ 1,089 Liabilities Interest rate exchange agreements $ — $ 1,763 $ — $ 1,763

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	9 Months Ended
	Sep. 30, 2017
Property, Plant and Equipment [Abstract]
Components of Property, Plant and Equipment	Property, plant and equipment consisted of the following (dollars in thousands): September 30, December 31, Cable systems, equipment and customer devices $ 2,413,911 $ 2,314,715 Vehicles 45,920 42,334 Buildings and leasehold improvements 37,267 36,708 Furniture, fixtures and office equipment 34,186 34,092 Land and land improvements 7,785 7,841 Property, plant and equipment, gross $ 2,539,069 $ 2,435,690 Accumulated depreciation (1,694,126 ) (1,619,301 ) Property, plant and equipment, net $ 844,943 $ 816,389

Accounts Payable, Accrued Exp21

Accounts Payable, Accrued Expenses and Other Current Liabilities (Tables)	9 Months Ended
	Sep. 30, 2017
Payables and Accruals [Abstract]
Summary of Accounts Payable, Accrued Expenses and Other Current Liabilities	Accounts payable, accrued expenses and other current liabilities consisted of the following (dollars in thousands): September 30, December 31, Accounts payable - trade $ 33,717 $ 42,094 Accrued programming costs 29,085 25,856 Accrued taxes and fees 17,071 17,212 Accrued interest 14,701 10,080 Accrued payroll and benefits 14,373 13,795 Advance customer payments 14,148 13,902 Bank overdrafts (1) 12,575 7,387 Accrued property, plant and equipment 6,969 4,950 Accrued service costs 6,586 6,810 Accrued administrative costs 5,751 5,381 Accrued marketing costs 3,418 3,193 Accrued telecommunications costs 784 878 Liabilities under interest rate exchange agreements — 1,763 Other accrued expenses 1,210 1,517 Accounts payable, accrued expenses and other current liabilities $ 160,388 $ 154,818 (1) Bank overdrafts represent outstanding checks in excess of funds on deposit at our disbursement accounts. We transfer funds from our depository accounts to our disbursement accounts upon daily notification of checks presented for payment. Changes in bank overdrafts are reported in “other financing activities” in our Consolidated Statements of Cash Flows.

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2017
Debt Disclosure [Abstract]
Summary of Outstanding Debt	Outstanding debt consisted of the following (dollars in thousands): September 30, December 31, Bank credit facility $ 972,000 $ 1,128,000 5 1 2 200,000 200,000 6 3 8 300,000 300,000 Total debt $ 1,472,000 $ 1,628,000 Less: current portion 13,575 16,575 Total long-term debt, gross (less current portion) $ 1,458,425 $ 1,611,425 Less: deferred financing costs, net 9,890 14,350 Total long-term debt, net (less current portion) $ 1,448,535 $ 1,597,075
Fair Values of Senior Notes and Outstanding Debt under Credit Facility	The fair values of our senior notes and outstanding debt under the credit facility (which were calculated based upon unobservable inputs that are corroborated by market data that we determine to be Level 2), were as follows (dollars in thousands): September 30, December 31, 5 1 2 $ 205,000 $ 205,500 6 3 8 313,500 316,500 Total senior notes $ 518,500 $ 522,000 Bank credit facility $ 977,745 $ 1,135,633

Organization - Additional Infor

Organization - Additional Information (Detail) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Amount due from affiliate by subsidiary	$ 100		$ 100
Franchise fees imposed by local governmental authorities	$ 5,500,000	$ 5,800,000	$ 16,600,000	$ 17,600,000

Recent Accounting Pronounceme24

Recent Accounting Pronouncements - Additional Information (Detail) - Maximum [Member]	12 Months Ended
	Dec. 31, 2016
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Percentage of installation revenues to revenue	2.00%
Percentage of commission expenses to revenue	2.00%

Fair Value - Fair Value of Inte

Fair Value - Fair Value of Interest Rate Swap Assets and Liabilities (Detail) - Interest Rate Swap [Member] - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	$ 785	$ 1,089
Liabilities		1,763
Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	$ 785	1,089
Liabilities		$ 1,763

Fair Value - Additional Informa

Fair Value - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Fair Value Disclosures [Abstract]
Current assets	$ 500		$ 500
Long term assets	300		300		$ 1,100
Current liability in accounts payable, accrued expenses and other current liabilities					$ 1,763
Net gain (loss) on derivatives	$ 600	$ 4,400	$ 1,500	$ (4,300)

Property, Plant and Equipment -

Property, Plant and Equipment - Components of Property, Plant and Equipment (Detail) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 2,539,069	$ 2,435,690
Accumulated depreciation	(1,694,126)	(1,619,301)
Property, plant and equipment, net	844,943	816,389
Cable Systems, Equipment and Customer Devices [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	2,413,911	2,314,715
Vehicles [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	45,920	42,334
Buildings and Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	37,267	36,708
Furniture, Fixtures and Office Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	34,186	34,092
Land and Land Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 7,785	$ 7,841

Accounts Payable, Accrued Exp28

Accounts Payable, Accrued Expenses and Other Current Liabilities - Summary of Accounts Payable, Accrued Expenses and Other Current Liabilities (Detail) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Payables and Accruals [Abstract]
Accounts payable - trade	$ 33,717	$ 42,094
Accrued programming costs	29,085	25,856
Accrued taxes and fees	17,071	17,212
Accrued interest	14,701	10,080
Accrued payroll and benefits	14,373	13,795
Advance customer payments	14,148	13,902
Bank overdrafts	12,575	7,387
Accrued property, plant and equipment	6,969	4,950
Accrued service costs	6,586	6,810
Accrued administrative costs	5,751	5,381
Accrued marketing costs	3,418	3,193
Accrued telecommunications costs	784	878
Liabilities under interest rate exchange agreements		1,763
Other accrued expenses	1,210	1,517
Accounts payable, accrued expenses and other current liabilities	$ 160,388	$ 154,818

Debt - Summary of Outstanding D

Debt - Summary of Outstanding Debt (Detail) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Total debt	$ 1,472,000	$ 1,628,000
Less: current portion	13,575	16,575
Total long-term debt, gross (less current portion)	1,458,425	1,611,425
Total long-term debt, gross (less current portion)	1,458,425	1,611,425
Less: deferred financing costs, net	9,890	14,350
Total long-term debt, net (less current portion)	1,448,535	1,597,075
Bank Credit Facility [Member]
Debt Instrument [Line Items]
Total debt	972,000	1,128,000
5 1/2% Senior Notes Due 2021 [Member]
Debt Instrument [Line Items]
Total debt	200,000	200,000
6 3/8% Senior Notes Due 2023 [Member]
Debt Instrument [Line Items]
Total debt	$ 300,000	$ 300,000

Debt - Summary of Outstanding30

Debt - Summary of Outstanding Debt (Parenthetical) (Detail)	9 Months Ended
	Sep. 30, 2017
5 1/2% Senior Notes Due 2021 [Member]
Debt Instrument [Line Items]
Debt instrument, Interest rate	5.50%
Debt instrument, Maturity	2,021
6 3/8% Senior Notes Due 2023 [Member]
Debt Instrument [Line Items]
Debt instrument, Interest rate	6.375%
Debt instrument, Maturity	2,023

Debt - Additional Information (

Debt - Additional Information (Detail) - USD ($) $ in Thousands	Jun. 30, 2017	Sep. 30, 2017	Sep. 30, 2016
Debt Instrument [Line Items]
Received capital contributions from parent		$ 60,000	$ 75,000
Loss on early extinguishment of debt		(1,966)	$ (1,156)
Outstanding senior notes		500,000
Mediacom LLC [Member]
Debt Instrument [Line Items]
Received capital contributions from parent	$ 60,000
5 1/2% Senior Notes Due 2021 [Member]
Debt Instrument [Line Items]
Outstanding senior notes		$ 200,000
Senior notes expiration date		2021-04
6 3/8% Senior Notes Due 2023 [Member]
Debt Instrument [Line Items]
Outstanding senior notes		$ 300,000
Senior notes expiration date		2023-04
Interest Rate Swap [Member]
Debt Instrument [Line Items]
Expiration date of revolving credit commitments		Dec. 31, 2018
Interest rate on borrowings		1.50%
Weighted average interest rate on outstanding borrowings		3.60%
Interest Rate Swap [Member] | Not Designated as Hedging Instrument [Member]
Debt Instrument [Line Items]
Revolving credit commitment outstanding		$ 600,000
Loans Payable [Member]
Debt Instrument [Line Items]
Revolving credit commitment outstanding		$ 259,300
Maximum [Member]
Debt Instrument [Line Items]
Required debt to operating cash flow		850.00%
Bank Credit Facility [Member]
Debt Instrument [Line Items]
Unused revolving credit commitments		$ 99,600
Letter of Credit [Member]
Debt Instrument [Line Items]
Revolving credit commitment outstanding		9,700
Bank Credit Facility [Member]
Debt Instrument [Line Items]
Revolving credit commitment outstanding		$ 1,081,000
Bank Credit Facility [Member] | Maximum [Member]
Debt Instrument [Line Items]
Leverage ratio		500.00%
Bank Credit Facility [Member] | Minimum [Member]
Debt Instrument [Line Items]
Interest coverage ratio		200.00%
Bank Credit Facility [Member] | Revolving Credit Commitments at Present [Member]
Debt Instrument [Line Items]
Revolving credit commitments		$ 368,500
Expiration date of revolving credit commitments		Oct. 10, 2019
Bank Credit Facility [Member] | Term Loan J [Member]
Debt Instrument [Line Items]
Repayment of credit facility	291,800
Bank Credit Facility [Member] | Revolving Credit [Member]
Debt Instrument [Line Items]
Revolving credit commitments	$ 231,800
Expiration date of revolving credit commitments		Nov. 2, 2022
Bank Credit Facility [Member] | Term Loan A [Member]
Debt Instrument [Line Items]
Revolving credit commitment outstanding		$ 138,200
Expiration date of revolving credit commitments		Jan. 15, 2021
Bank Credit Facility [Member] | Term Loan H [Member]
Debt Instrument [Line Items]
Revolving credit commitment outstanding		$ 574,500
Expiration date of revolving credit commitments		Jan. 29, 2021

Debt - Fair Values of Senior No

Debt - Fair Values of Senior Notes and Outstanding Debt under Credit Facility (Detail) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Total senior notes	$ 518,500	$ 522,000
5 1/2% Senior Notes Due 2021 [Member]
Debt Instrument [Line Items]
Total senior notes	205,000	205,500
6 3/8% Senior Notes Due 2023 [Member]
Debt Instrument [Line Items]
Total senior notes	313,500	316,500
Bank Credit Facility [Member]
Debt Instrument [Line Items]
Total senior notes	$ 977,745	$ 1,135,633

Debt - Fair Values of Senior 33

Debt - Fair Values of Senior Notes and Outstanding Debt under Credit Facility (Parenthetical) (Detail)	9 Months Ended
	Sep. 30, 2017
5 1/2% Senior Notes Due 2021 [Member]
Debt Instrument [Line Items]
Debt instrument, Interest rate	5.50%
Debt instrument, Maturity	2,021
6 3/8% Senior Notes Due 2023 [Member]
Debt Instrument [Line Items]
Debt instrument, Interest rate	6.375%
Debt instrument, Maturity	2,023

Preferred Members' Interest - A

Preferred Members' Interest - Additional Information (Detail) - Mediacom LLC [Member] - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Jul. 31, 2001
Class Of Stock [Line Items]
Preferred equity investment					$ 150
Percentage of annual cash dividend on preferred equity investment			12.00%
Cash dividends on PMI	$ 4.5	$ 4.5	$ 13.5	$ 13.5

Member's Equity - Additional In

Member's Equity - Additional Information (Detail) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Equity [Abstract]
Received capital contributions from parent	$ 60,000	$ 75,000
Capital distributions to parent	$ 5,750	$ 6,175

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Related Party Transaction [Line Items]
Management fees charged by MCC	$ 5,650	$ 5,350	$ 16,315	$ 15,450
MCC [Member]
Related Party Transaction [Line Items]
Management fees charged by MCC	$ 5,700	$ 5,400	$ 16,300	$ 15,500
MCC [Member] | Management Fees [Member] | Operating Revenues [Member] | Maximum [Member]
Related Party Transaction [Line Items]
Rate of annual gross operating revenues of our operating subsidiaries			4.00%

Subsequent Events - Additional

Subsequent Events - Additional Information (Detail) - USD ($) $ in Millions	Nov. 02, 2017	Sep. 30, 2017	Jun. 30, 2017
Fourth Amended and Restated Credit Agreement [Member] | Revolving Credit [Member]
Subsequent Event [Line Items]
Revolving credit commitments		$ 368.5
Bank Credit Facility [Member]
Subsequent Event [Line Items]
Revolving credit commitment outstanding		$ 1,081
Bank Credit Facility [Member] | Minimum [Member]
Subsequent Event [Line Items]
Interest coverage ratio		200.00%
Bank Credit Facility [Member] | Maximum [Member]
Subsequent Event [Line Items]
Leverage ratio		500.00%
Bank Credit Facility [Member] | Revolving Credit [Member]
Subsequent Event [Line Items]
Revolving credit commitments			$ 231.8
Expiration date of revolving credit commitments		Nov. 2, 2022
Line of credit facility covenant, Period to maturity		91 days
Debt instrument, payment terms		The new revolver expires on the earliest of (i) November 2, 2022; (ii) 91 days prior to the final maturity of any term loan under the credit facility if $200.0 million or more remains outstanding under such term loan on that date; or (iii) six months prior to the scheduled maturity date of any affiliated subordinated indebtedness that is then outstanding.
Line of credit facility covenant, Period to maturity of subordinate debt		6 months
Bank Credit Facility [Member] | Term Loan A-1 [Member]
Subsequent Event [Line Items]
Expiration date of revolving credit commitments		Nov. 2, 2022
Line of credit facility covenant, Period to maturity		91 days
Debt instrument, payment terms		Term Loan A-1 matures on the earliest of (i) November 2, 2022; (ii) 91 days prior to the final maturity of any term loan under the credit facility if $200.0 million or more remains outstanding under such term loan on that date; or (iii) six months prior to the scheduled maturity date of any affiliated subordinated indebtedness that is then outstanding, and is subject to quarterly reductions of $2.8 million beginning on December 31, 2017.
Line of credit facility covenant, Period to maturity of subordinate debt		6 months
Bank Credit Facility [Member] | Term Loan M [Member]
Subsequent Event [Line Items]
Expiration date of revolving credit commitments		Jan. 15, 2025
Debt instrument, payment terms		If on or before May 2, 2018, Term Loan M is prepaid from the proceeds of a substantially concurrent borrowing of term loans with an interest rate less than the interest rate applicable to Term Loan M (calculated as provided in the new credit agreement), then the prepayment shall be accompanied by a fee equal to 1.00% of the aggregate principal amount of Term Loan M so prepaid.
Bank Credit Facility [Member] | Term Loan A [Member]
Subsequent Event [Line Items]
Revolving credit commitment outstanding		$ 138.2
Expiration date of revolving credit commitments		Jan. 15, 2021
Bank Credit Facility [Member] | Term Loan H [Member]
Subsequent Event [Line Items]
Revolving credit commitment outstanding		$ 574.5
Expiration date of revolving credit commitments		Jan. 29, 2021
Subsequent Event [Member] | Fourth Amended and Restated Credit Agreement [Member] | Revolving Credit [Member]
Subsequent Event [Line Items]
Repayment of credit facility	$ 259.3
Subsequent Event [Member] | Fourth Amended and Restated Credit Agreement [Member] | New Revolver [Member]
Subsequent Event [Line Items]
Revolving credit commitments	$ 375
Effective date for new revolving credit facility	Nov. 2, 2017
Subsequent Event [Member] | Fourth Amended and Restated Credit Agreement [Member] | Term Loan A-1 [Member]
Subsequent Event [Line Items]
Revolving credit commitment outstanding	$ 250
Subsequent Event [Member] | Fourth Amended and Restated Credit Agreement [Member] | Term Loan M [Member]
Subsequent Event [Line Items]
Revolving credit commitment outstanding	800
Subsequent Event [Member] | Fourth Amended and Restated Credit Agreement [Member] | Term Loan A [Member]
Subsequent Event [Line Items]
Repayment of credit facility	138.2
Subsequent Event [Member] | Fourth Amended and Restated Credit Agreement [Member] | Term Loan H [Member]
Subsequent Event [Line Items]
Repayment of credit facility	$ 574.5
Subsequent Event [Member] | Bank Credit Facility [Member] | Revolving Credit [Member] | Minimum [Member]
Subsequent Event [Line Items]
Rate of commitment fees on the unused portion of revolving credit commitments	0.25%
Line of credit facility covenant, Remaining borrowing capacity prior to maturity	$ 200
Subsequent Event [Member] | Bank Credit Facility [Member] | Revolving Credit [Member] | Minimum [Member] | LIBOR [Member]
Subsequent Event [Line Items]
Floating rate margin	1.75%
Subsequent Event [Member] | Bank Credit Facility [Member] | Revolving Credit [Member] | Minimum [Member] | Prime Rate [Member]
Subsequent Event [Line Items]
Floating rate margin	0.75%
Subsequent Event [Member] | Bank Credit Facility [Member] | Revolving Credit [Member] | Maximum [Member]
Subsequent Event [Line Items]
Rate of commitment fees on the unused portion of revolving credit commitments	0.50%
Subsequent Event [Member] | Bank Credit Facility [Member] | Revolving Credit [Member] | Maximum [Member] | LIBOR [Member]
Subsequent Event [Line Items]
Floating rate margin	2.75%
Subsequent Event [Member] | Bank Credit Facility [Member] | Revolving Credit [Member] | Maximum [Member] | Prime Rate [Member]
Subsequent Event [Line Items]
Floating rate margin	1.75%
Subsequent Event [Member] | Bank Credit Facility [Member] | Term Loan A-1 [Member]
Subsequent Event [Line Items]
Quarterly principal payments of original principal amount	$ 3.1
Subsequent Event [Member] | Bank Credit Facility [Member] | Term Loan A-1 [Member] | Minimum [Member]
Subsequent Event [Line Items]
Line of credit facility covenant, Remaining borrowing capacity prior to maturity	$ 200
Subsequent Event [Member] | Bank Credit Facility [Member] | Term Loan A-1 [Member] | Minimum [Member] | LIBOR [Member]
Subsequent Event [Line Items]
Floating rate margin	1.75%
Subsequent Event [Member] | Bank Credit Facility [Member] | Term Loan A-1 [Member] | Minimum [Member] | Prime Rate [Member]
Subsequent Event [Line Items]
Floating rate margin	0.75%
Subsequent Event [Member] | Bank Credit Facility [Member] | Term Loan A-1 [Member] | Maximum [Member] | LIBOR [Member]
Subsequent Event [Line Items]
Floating rate margin	2.75%
Subsequent Event [Member] | Bank Credit Facility [Member] | Term Loan A-1 [Member] | Maximum [Member] | Prime Rate [Member]
Subsequent Event [Line Items]
Floating rate margin	1.75%
Subsequent Event [Member] | Bank Credit Facility [Member] | Term Loan M [Member]
Subsequent Event [Line Items]
Quarterly principal payments of original principal amount	$ 2
Debt instrument, prepayment fee	1.00%
Subsequent Event [Member] | Bank Credit Facility [Member] | Term Loan M [Member] | LIBOR [Member]
Subsequent Event [Line Items]
Floating rate margin	2.00%
Subsequent Event [Member] | Bank Credit Facility [Member] | Term Loan M [Member] | Prime Rate [Member]
Subsequent Event [Line Items]
Floating rate margin	1.00%
Subsequent Event [Member] | Bank Credit Facility [Member] | Term Loan M [Member] | Minimum [Member] | LIBOR [Member]
Subsequent Event [Line Items]
Floating rate	0.75%
Subsequent Event [Member] | Bank Credit Facility [Member] | Term Loan M [Member] | Minimum [Member] | Prime Rate [Member]
Subsequent Event [Line Items]
Floating rate	1.75%