Consolidated Communications (CNSL) 10-K 26 Feb 19 2018 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2018	Feb. 21, 2019	Jun. 30, 2018
Document and Entity Information
Entity Registrant Name	Consolidated Communications Holdings, Inc.
Entity Central Index Key	1,304,421
Document Type	10-K
Document Period End Date	Dec. 31, 2018
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Public Float			$ 846,847,934
Entity Common Stock, Shares Outstanding		71,187,301
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	FY

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
CONSOLIDATED STATEMENTS OF OPERATIONS
Net revenues	$ 344,750	$ 348,064	$ 350,221	$ 356,039	$ 356,360	$ 363,329	$ 169,950	$ 169,935	$ 1,399,074	$ 1,059,574	$ 743,177
Operating expense:
Cost of services and products (exclusive of depreciation and amortization)									611,872	445,998	321,412
Selling, general and administrative expenses									333,605	249,141	156,520
Acquisition and other transaction costs									1,960	33,650	1,214
Loss on impairment											610
Depreciation and amortization									432,668	291,873	174,010
Income from operations	3,555	748	5,427	9,239	6,972	(7,691)	20,552	19,079	18,969	38,912	89,411
Other income (expense):
Interest expense, net of interest income									(134,578)	(129,786)	(76,826)
Loss on extinguishment of debt											(6,559)
Investment income									39,596	31,749	32,972
Other, net									1,315	(503)	(840)
Income (loss) before income taxes									(74,698)	(59,628)	38,158
Income tax expense (benefit)									(24,127)	(124,927)	22,962
Net income (loss)									(50,571)	65,299	15,196
Less: net income attributable to noncontrolling interest									263	354	265
Net income (loss) attributable to common shareholders	$ (13,979)	$ (14,914)	$ (10,643)	$ (11,298)	$ 99,806	$ (28,448)	$ (2,728)	$ (3,685)	$ (50,834)	$ 64,945	$ 14,931
Net income (loss) per common share - basic and diluted
Net income (loss) per basic and diluted common shares attributable to common shareholders (in dollars per share)	$ (0.20)	$ (0.21)	$ (0.15)	$ (0.16)	$ 1.41	$ (0.41)	$ (0.06)	$ (0.07)	$ (0.73)	$ 1.07	$ 0.29
Dividends declared per common share (in dollars per share)	$ 0.38738	$ 0.38738	$ 0.38738	$ 0.38738					$ 1.55	$ 1.55	$ 1.55

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
Net income (loss)	$ (50,571)	$ 65,299	$ 15,196
Pension and post-retirement obligations:
Change in net actuarial loss and prior service credit, net of tax benefit of $(3,941), $(2,833) and $(9,534) in 2018, 2017 and 2016, respectively	(10,835)	(4,467)	(14,831)
Reclassification of actuarial losses and prior service credit to earnings, net of tax expense of $1,370, $2,081 and $1,738 in 2018, 2017 and 2016, respectively	3,785	3,153	2,706
Derivative instruments designated as cash flow hedges:
Change in fair value of derivatives, net of tax benefit of $(244), $(161) and $(180) in 2018, 2017 and 2016, respectively	(691)	(250)	(289)
Reclassification of realized loss to earnings, net of tax expense of $855, $488 and $516 in 2018, 2017 and 2016, respectively	2,612	758	836
Comprehensive income (loss)	(55,700)	64,493	3,618
Less: comprehensive income attributable to noncontrolling interest	263	354	265
Total comprehensive income (loss) attributable to common shareholders	$ (55,963)	$ 64,139	$ 3,353

CONSOLIDATED STATEMENTS OF CO_2

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
Change in net actuarial loss and prior service credit, net of tax benefit	$ (3,941)	$ (2,833)	$ (9,534)
Reclassification of actuarial losses and prior service credit to earnings, net of tax expense	1,370	2,081	1,738
Change in fair value of derivatives, net of tax benefit	(244)	(161)	(180)
Reclassification of realized loss to earnings, tax expense	$ 855	$ 488	$ 516

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Current assets:
Cash and cash equivalents	$ 9,599	$ 15,657
Accounts receivable, net of allowance for doubtful accounts	133,136	121,528
Income tax receivable	11,072	21,846
Prepaid expenses and other current assets	44,336	33,318
Assets held for sale		21,310
Total current assets	198,143	213,659
Property, plant and equipment, net	1,927,126	2,037,606
Investments	110,853	108,858
Goodwill	1,035,274	1,038,032
Customer relationships, net	228,959	293,300
Other intangible assets	11,483	13,483
Other assets	23,423	14,188
Total assets	3,535,261	3,719,126
Current liabilities:
Accounts payable	32,502	24,143
Advance billings and customer deposits	47,724	42,526
Dividends payable	27,579	27,418
Accrued compensation	64,459	49,770
Accrued interest	9,232	9,343
Accrued expense	71,650	72,041
Current portion of long-term debt and capital lease obligations	30,468	29,696
Liabilities held for sale		1,003
Total current liabilities	283,614	255,940
Long-term debt and capital lease obligations	2,303,585	2,311,514
Deferred income taxes	188,129	209,720
Pension and other post-retirement obligations	314,134	334,193
Other long-term liabilities	30,145	33,817
Total liabilities	3,119,607	3,145,184
Commitments and contingencies (Note 11)
Shareholders' equity:
Common stock, par value $0.01 per share; 100,000,000 shares authorized, 71,187,301 and 70,777,354 shares outstanding as of December 31, 2018 and December 31, 2017, respectively	712	708
Additional paid-in capital	513,070	615,662
Accumulated deficit	(50,834)
Accumulated other comprehensive loss, net	(53,212)	(48,083)
Noncontrolling interest	5,918	5,655
Total shareholders' equity	415,654	573,942
Total liabilities and shareholders' equity	$ 3,535,261	$ 3,719,126

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2018	Dec. 31, 2017
CONSOLIDATED BALANCE SHEETS
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares outstanding	71,187,301	70,777,354

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY - USD ($) shares in Thousands, $ in Thousands	Common Stock	Additional Paid-in Capital	Retained Earnings (Deficit)	Accumulated Other Comprehensive Loss, net	Non-controlling Interest	Total
Balance at Dec. 31, 2015	$ 505	$ 281,738	$ (881)	$ (35,699)	$ 5,036	$ 250,699
Balance (in shares) at Dec. 31, 2015	50,470
Increase (Decrease) in Stockholders' Equity
Cash dividends on common stock		(64,423)	(14,050)			(78,473)
Shares issued under employee plan, net of forfeitures	$ 1	94				95
Shares issued under employee plan, net of forfeitures (in shares)	188
Non-cash, stock-based compensation		2,980				2,980
Purchase and retirement of common stock		(1,231)				(1,231)
Purchase and retirement of common stock (in shares)	(46)
Tax on restricted stock vesting		(1,433)				(1,433)
Other comprehensive income (loss)				(11,578)		(11,578)
Net income (loss)			14,931		265	15,196
Balance at Dec. 31, 2016	$ 506	217,725		(47,277)	5,301	176,255
Balance (in shares) at Dec. 31, 2016	50,612
Increase (Decrease) in Stockholders' Equity
Cash dividends on common stock		(34,764)	(67,187)			(101,951)
Shares issued upon acquisition of FairPoint	$ 201	430,752				430,953
Shares issued upon the acquisition of FairPoint (in shares)	20,104
Shares issued under employee plan, net of forfeitures	$ 1	104				105
Shares issued under employee plan, net of forfeitures (in shares)	121
Non-cash, stock-based compensation		2,766				2,766
Purchase and retirement of common stock		(571)				(571)
Purchase and retirement of common stock (in shares)	(60)
Other comprehensive income (loss)				(806)		(806)
Cumulative adjustment: unrecognized excess tax benefits			2,242			2,242
Other		(350)				(350)
Net income (loss)			64,945		354	65,299
Balance at Dec. 31, 2017	$ 708	615,662		(48,083)	5,655	573,942
Balance (in shares) at Dec. 31, 2017	70,777
Increase (Decrease) in Stockholders' Equity
Cash dividends on common stock		(107,112)	(3,271)			(110,383)
Shares issued under employee plan, net of forfeitures	$ 5	(7)				(2)
Shares issued under employee plan, net of forfeitures (in shares)	460
Non-cash, stock-based compensation		5,119				5,119
Purchase and retirement of common stock	$ (1)	(592)				(593)
Purchase and retirement of common stock (in shares)	(50)
Other comprehensive income (loss)				(5,129)		(5,129)
Cumulative adjustment: adoption of ASC 606 | ASU 2014-09			3,271			3,271
Net income (loss)			(50,834)		263	(50,571)
Balance at Dec. 31, 2018	$ 712	$ 513,070	$ (50,834)	$ (53,212)	$ 5,918	$ 415,654
Balance (in shares) at Dec. 31, 2018	71,187

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Cash flows from operating activities:
Net income (loss)	$ (50,571)	$ 65,299	$ 15,196
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	432,668	291,873	174,010
Deferred income taxes	(26,008)	(126,127)	20,863
Cash distributions from wireless partnerships in less than current earnings	(194)	(1,411)	(504)
Stock-based compensation expense	5,119	2,766	3,017
Amortization of deferred financing costs	4,721	17,076	3,223
Loss on extinguishment of debt			6,559
Other, net	6,066	3,208	(920)
Changes in operating assets and liabilities, net of acquired businesses:
Accounts receivable, net	(2,044)	(2,607)	5,353
Income tax receivable	10,754	180	2,251
Prepaids and other assets	(12,785)	1,059	(14,282)
Accounts payable	8,359	4,968	(1,067)
Accrued expenses and other liabilities	(18,764)	(46,257)	4,534
Net cash provided by operating activities	357,321	210,027	218,233
Cash flows from investing activities:
Business acquisition, net of cash acquired		(862,385)	(13,422)
Purchases of property, plant and equipment, net	(244,816)	(181,185)	(125,192)
Proceeds from sale of assets	2,125	859	208
Proceeds from business dispositions	20,999		30,119
Distributions from investments	233
Net cash used in investing activities	(221,459)	(1,042,711)	(108,287)
Cash flows from financing activities:
Proceeds from issuance of long-term debt	189,588	1,052,325	936,750
Payment of capital lease obligations	(12,755)	(7,933)	(2,885)
Payment on long-term debt	(207,938)	(111,337)	(943,050)
Payment of financing costs		(16,732)	(9,912)
Share repurchases for minimum tax withholding	(593)	(571)	(1,231)
Dividends on common stock	(110,222)	(94,138)	(78,419)
Other		(350)
Net cash provided (used in) financing activities	(141,920)	821,264	(98,747)
Change in cash and cash equivalents	(6,058)	(11,420)	11,199
Cash and cash equivalents at beginning of period	15,657	27,077	15,878
Cash and cash equivalents at end of period	$ 9,599	$ 15,657	$ 27,077

BUSINESS DESCRIPTION AND SUMMAR

BUSINESS DESCRIPTION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2018
BUSINESS DESCRIPTION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
BUSINESS DESCRIPTION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	CONSOLIDATED COMMUNICATIONS HOLDINGS, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATE YEARS ENDED DECEMBER 31, 2018, 2017 AND 2016 1. BUSINESS DESCRIPTION & SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Business and Basis of Accounting Consolidated Communications Holdings, Inc. (the “Company,” “we,” “our” or “us”) is a holding company with operating subsidiaries (collectively “Consolidated”) that provide communication solutions to consumer, commercial and carrier customers across a 23-state service area. Leveraging our advanced fiber network spanning more than 37,000 fiber route miles, we offer residential high-speed Internet, video, phone and home security services as well as multi-service residential and small business bundles. Our business product suite includes data and Internet solutions, voice, data center services, security services, managed and IT services, and an expanded suite of cloud services. As of December 31, 2018, we had approximately 902 thousand voice connections, 779 thousand data connections and 93 thousand video connections. Use of Estimates Preparation of the financial statements in conformity with accounting principles generally accepted in the United States and pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”) requires management to make estimates and assumptions that effect the reported amounts of assets and liabilities as of the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results may differ materially from those estimates. Our critical accounting estimates include (i) impairment evaluations associated with indefinite-lived intangible assets (Note 1), (ii) the determination of deferred tax asset and liability balances (Notes 1 and 10) and (iii) pension plan and other post-retirement costs and obligations (Notes 1 and 9). Principles of Consolidation Our consolidated financial statements include the accounts of the Company and our wholly-owned subsidiaries and subsidiaries in which we have a controlling financial interest. All significant intercompany transactions have been eliminated. Recent Business Developments On July 3, 2017, we completed our acquisition of FairPoint Communications, Inc. (“FairPoint”), pursuant to the terms of a definitive agreement and plan of merger (as amended, the “Merger Agreement”) and acquired all of the issued and outstanding shares of FairPoint in exchange for shares of our common stock (the “Merger”). As a result of the Merger, FairPoint became a wholly owned subsidiary of the Company. The financial results for FairPoint have been included in our consolidated financial statements as of the acquisition date. For a more complete discussion of the transaction, refer to Note 3. Cash and Cash Equivalents We consider all highly liquid investments with an original maturity of three months or less to be cash equivalents. Our cash equivalents consist primarily of money market funds. The carrying amounts of our cash equivalents approximate their fair values. Accounts Receivable and Allowance for Doubtful Accounts Accounts receivable consists primarily of amounts due to the Company from normal business activities. We maintain an allowance for doubtful accounts for estimated losses that result from the inability of our customers to make required payments. The allowance for doubtful accounts is maintained based on customer payment levels, historical experience and management’s views on trends in the overall receivable agings. In addition, for larger accounts, we perform analyses of risks on a customer-specific basis. We perform ongoing credit evaluations of our customers’ financial condition and management believes that an adequate allowance for doubtful accounts has been provided. Uncollectible accounts are removed from accounts receivable and are charged against the allowance for doubtful accounts when internal collection efforts have been unsuccessful. The following table summarizes the activity in allowance for doubtful accounts for the years ended December 31, 2018, 2017 and 2016: Year Ended December 31, (In thousands) 2018 2017 2016 Balance at beginning of year $ 6,667 $ 2,813 $ 3,235 Provision charged to expense 8,793 7,072 2,798 Write-offs, less recoveries Acquired allowance for doubtful accounts — 3,298 — Balance at end of year $ 4,421 $ 6,667 $ 2,813 Investments Our investments are primarily accounted for under either the equity method or at cost. If we have the ability to exercise significant influence over the operations and financial policies of an affiliated company, the investment in the affiliated company is accounted for using the equity method. If we do not have control and also cannot exercise significant influence, we account for these investments at our initial cost less impairment because fair value is not readily available for these investments. We review our investment portfolio periodically to determine whether there are identified events or circumstances that would indicate there is a decline in the fair value that is considered to be other than temporary. If we believe the decline is other than temporary, we evaluate the financial performance of the business and compare the carrying value of the investment to quoted market prices (if available) or the fair value of similar investments. If an investment is deemed to have experienced an impairment that is considered other-than temporary, the carrying amount of the investment is reduced to its quoted or estimated fair value, as applicable, and an impairment loss is recognized in other income (expense). Fair Value of Financial Instruments We account for certain assets and liabilities at fair value. Fair value is an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or a liability. A financial asset or liability’s classification within a three-tiered value hierarchy is determined based on the lowest level input that is significant to the fair value measurement. The hierarchy prioritizes the inputs to valuation techniques into three broad levels in order to maximize the use of observable inputs and minimize the use of unobservable inputs. The levels of the fair value hierarchy are as follows: Level 1 – Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets. Level 2 – Inputs that reflect quoted prices in active markets for similar assets or liabilities, quoted prices for identical or similar assets or liabilities in inactive markets and inputs other than quoted prices that are directly or indirectly observable in the marketplace. Level 3 – Unobservable inputs which are supported by little or no market activity. Property, Plant and Equipment Property, plant and equipment are recorded at cost. We capitalize additions and substantial improvements and expense repairs and maintenance costs as incurred. We capitalize the cost of internal-use network and non-network software which has a useful life in excess of one year. Subsequent additions, modifications or upgrades to internal-use network and non-network software are capitalized only to the extent that they allow the software to perform a task it previously did not perform. Software maintenance and training costs are expensed in the period in which they are incurred. Also, we capitalize interest associated with the development of internal-use network and non-network software. Property, plant and equipment consisted of the following as of December 31, 2018 and 2017: December 31, December 31, Estimated (In thousands) 2018 2017 Useful Lives Land and buildings $ $ - years Central office switching and transmission - years Outside plant cable, wire and fiber facilities - years Furniture, fixtures and equipment - years Assets under capital lease - years Total plant in service Less: accumulated depreciation and amortization Plant in service Construction in progress Construction inventory Totals $ $ Construction inventory, which is stated at weighted average cost, consists primarily of network construction materials and supplies that when issued are predominately capitalized as part of new customer installations and the construction of the network. We record depreciation using the straight-line method over estimated useful lives using either the group or unit method. The useful lives are estimated at the time the assets are acquired and are based on historical experience with similar assets, anticipated technological changes and the expected impact of our strategic operating plan on our network infrastructure. In addition, the ranges of estimated useful lives presented above are impacted by the accounting for business combinations as the lives assigned to these acquired assets are generally much shorter than that of a newly acquired asset. The group method is used for depreciable assets dedicated to providing regulated telecommunication services, including the majority of the network, outside plant facilities and certain support assets. A depreciation rate for each asset group is developed based on the average useful life of the group. The group method requires periodic revision of depreciation rates. When an individual asset is sold or retired, the difference between the proceeds, if any, and the cost of the asset is charged or credited to accumulated depreciation, without recognition of a gain or loss. The unit method is primarily used for buildings, furniture, fixtures and other support assets. Each asset is depreciated on the straight-line basis over its estimated useful life. When an individual asset is sold or retired, the cost basis of the asset and related accumulated depreciation are removed from the accounts and any associated gain or loss is recognized. Depreciation and amortization expense related to property, plant and equipment was $366.3 million, $263.8 million and $161.1 million in 2018, 2017 and 2016, respectively. Amortization of assets under capital leases is included in the depreciation and amortization expense in the consolidated statements of operations. We evaluate the recoverability of our property, plant and equipment whenever events or substantive changes in circumstances indicate that the carrying amount of an asset group may not be recoverable. Recoverability is measured by a comparison of the carrying amount of an asset group to estimated undiscounted future cash flows expected to be generated by the asset group. If the total of the expected future undiscounted cash flows were less than the carrying amount of the asset group, we would recognize an impairment charge for the difference between the estimated fair value and the carrying value of the asset group. Intangible Assets Indefinite-Lived Intangibles Goodwill and tradenames are evaluated for impairment annually or more frequently when events or changes in circumstances indicate that the asset might be impaired. We evaluate the carrying value of goodwill and tradenames as of November 30 of each year. Goodwill Goodwill is the excess of the acquisition cost of a business over the fair value of the identifiable net assets acquired. Goodwill is not amortized but instead evaluated annually for impairment. The evaluation of goodwill may first include a qualitative assessment to determine whether it is more likely than not that the fair value of the reporting unit is less than its carrying amount. Events and circumstances integrated into the qualitative assessment process include a combination of macroeconomic conditions affecting equity and credit markets, significant changes to the cost structure, overall financial performance and other relevant events affecting the reporting unit. For the 2018 assessment, we evaluated the fair value of goodwill compared to the carrying value using the qualitative approach. The results of the qualitative approach concluded that it is more likely than not that the fair value of goodwill was greater than the carrying value as of November 30, 2018. When we use the quantitative approach to assess the goodwill carrying value and the fair value of our single reporting unit, the fair value of our reporting unit is compared to its carrying amount, including goodwill. The estimated fair value of the reporting unit is determined using a combination of market-based approaches and a discounted cash flow (“DCF”) model. The assumptions used in the estimate of fair value are based upon a combination of historical results and trends, new industry developments and future cash flow projections, as well as relevant comparable company earnings multiples for the market-based approaches. Such assumptions are subject to change as a result of changing economic and competitive conditions. We use a weighting of the results derived from the valuation approaches to estimate the fair value of the reporting unit. For the 2017 assessment, using the quantitative approach, we concluded that the fair value of the reporting unit exceeded the carrying value at November 30, 2017 and that there was no impairment of goodwill. In measuring the fair value of our single reporting unit as previously described, we consider the fair value of our reporting unit in relation to our overall enterprise value, measured as the publicly traded stock price multiplied by the fully diluted shares outstanding plus the fair value of outstanding debt. Our reporting unit fair value models are consistent with a range in value indicated by both the preceding three month average stock price and the stock price on the valuation date, plus an estimated acquisition premium which is based on observable transactions of comparable companies, if applicable. If the carrying value of the reporting unit exceeds its fair value, a goodwill impairment is recorded for the difference in the carrying value and fair value. We did not recognize any goodwill impairment in 2018, 2017 or 2016 as a result of the impairment tests. At December 31, 2018 and 2017, the carrying value of goodwill was $1,035.3 million and $1,038.0 million, respectively. Goodwill decreased $2.8 million as a result of changes during 2018 in the initial estimates of the net assets acquired in the acquisition of FairPoint, as described in Note 3. Trade Name Our trade name is the federally registered mark CONSOLIDATED, a design of interlocking circles, which is used in association with our communication services. The Company’s corporate branding strategy leverages a CONSOLIDATED naming structure. All of the Company’s business units and several of our products and services incorporate the CONSOLIDATED name. Trade names with indefinite useful lives are not amortized but are tested for impairment at least annually. If facts and circumstances change relating to a trade name’s continued use in the branding of our products and services, it may be treated as a finite-lived asset and begin to be amortized over its estimated remaining life. The carrying value of our trade names, excluding any finite lived trade names, was $10.6 million at December 31, 2018 and 2017. For the 2018 assessment, we used the qualitative approach to evaluate the fair value compared to the carrying value of the trade name. Based on the various qualitative indicators reviewed, we concluded that the fair value of the trade name continued to exceed the carrying value. In the 2017 assessment, when we used the quantitative approach to estimate the fair value of our trade name, we used an income-based valuation approach called the relief from royalty method. If the fair value of our trade name was less than the carrying amount, we would recognize an impairment charge for the difference between the estimated fair value and the carrying value of the assets. We perform our impairment testing of our trade name as a single unit of accounting based on their use in our single reporting unit. Finite-Lived Intangible Assets Finite-lived intangible assets subject to amortization consist primarily of our customer lists of an established base of customers that subscribe to our services, trade names of acquired companies and other intangible assets. Finite-lived intangible assets are amortized using an accelerated amortization method or on a straight-line basis over their estimated useful lives. We evaluate the potential impairment of finite-lived intangible assets when impairment indicators exist. If the carrying value is no longer recoverable based upon the undiscounted future cash flows of the asset, an impairment equal to the difference between the carrying amount and the fair value of the asset is recognized. We did not recognize any intangible impairment charges in the years ended December 31, 2018, 2017 or 2016. The components of finite-lived intangible assets are as follows: December 31, 2018 December 31, 2017 Gross Carrying Accumulated Gross Carrying Accumulated (In thousands) Useful Lives Amount Amortization Amount Amortization Customer relationships - years $ 516,561 $ (287,602) $ 516,561 $ (223,261) Trade names <1 - years 2,290 (2,290) 3,390 (3,390) Other intangible assets - years 5,600 (4,674) 7,380 (4,454) Total $ 524,451 $ (294,566) $ 527,331 $ (231,105) Amortization expense related to the finite-lived intangible assets for the years ended December 31, 2018, 2017 and 2016 was $66.3 million, $28.0 million and $12.9 million, respectively. Expected future amortization expense of finite-lived intangible assets is as follows: (In thousands) 2019 $ 66,132 2020 50,440 2021 39,374 2022 30,850 2023 23,963 Thereafter 19,126 Total $ 229,885 Derivative Financial Instruments We use derivative financial instruments to manage our exposure to the risks associated with fluctuations in interest rates. Our interest rate swap agreements effectively convert a portion of our floating-rate debt to a fixed-rate basis, thereby reducing the impact of interest rate changes on future cash interest payments. At the inception of a hedge transaction, we formally document the relationship between the hedging instruments including our objective and strategy for establishing the hedge. In addition, the effectiveness of the derivative instrument is assessed at inception and on an ongoing basis throughout the hedging period. Counterparties to derivative instruments expose us to credit-related losses in the event of nonperformance. We execute agreements only with financial institutions we believe to be creditworthy and regularly assess the credit worthiness of each of the counterparties. We do not use derivative instruments for trading or speculative purposes. Derivative financial instruments are recorded at fair value in our consolidated balance sheet. Fair value is determined based on projected interest rate yield curves and an estimate of our nonperformance risk or our counterparty’s nonperformance credit risk, as applicable. We do not anticipate any nonperformance by any counterparty. For derivative instruments designated as a cash flow hedge, the effective portion of the change in the fair value is recognized as a component of accumulated other comprehensive income (loss) (“AOCI”) and is recognized as an adjustment to earnings over the period in which the hedged item impacts earnings. When an interest rate swap agreement terminates, any resulting gain or loss is recognized over the shorter of the remaining original term of the hedging instrument or the remaining life of the underlying debt obligation. The ineffective portion of the change in fair value of any hedging derivative is recognized immediately in earnings. If a derivative instrument is de-designated, the remaining gain or loss in AOCI on the date of de-designation is amortized to earnings over the remaining term of the hedging instrument. For derivative financial instruments that are not designated as a hedge, including those that have been de-designated, changes in fair value are recognized on a current basis in earnings. Cash flows from hedging activities are classified under the same category as the cash flows from the hedged items in our consolidated statement of cash flows. See Note 7 for further discussion of our derivative financial instruments. Share-based Compensation We recognize share-based compensation expense for all restricted stock awards (“RSAs”) and performance share awards (“PSAs”) (collectively, “stock awards”) based on the estimated fair value of the stock awards on the date of grant. We recognize the expense associated with RSAs and PSAs on a straight-line basis over the requisite service period, which generally ranges from immediate vesting to a four-year vesting period, and account for forfeitures as they occur. See Note 8 for additional information regarding share-based compensation. Pension Plan and Other Post-Retirement Benefits We maintain noncontributory defined benefit pension plans and provide certain post-retirement health care and life insurance benefits to certain eligible employees. We also maintain two unfunded supplemental retirement plans to provide incremental pension payments to certain former employees. See Note 9 for a more detailed discussion regarding our pension and other post-retirement benefits. We recognize pension and post-retirement benefits expense during the current period in the consolidated statement of operations using certain assumptions, including the expected long-term rate of return on plan assets, interest cost implied by the discount rate, expected health care cost trend rate and the amortization of unrecognized gains and losses. We determine expected long-term rate of return on plan assets by considering historical investment performance, plan asset allocation strategies and return forecasts for each asset class and input from its advisors. Projected returns by such advisors were based on broad equity and fixed income indices. The expected long-term rate of return is reviewed annually in conjunction with other plan assumptions, if considered necessary, revised to reflect changes in the financial markets and the investment strategy. Our plan assets are valued at fair value as of the measurement date. Our discount rate assumption is determined annually to reflect the rate at which the benefits could be effectively settled and approximate the timing of expected future payments based on current market determined interest rates for similar obligations. We use bond matching model BOND:Link comprising of high quality corporate bonds to match cash flows to the expected benefit payments. We recognize the overfunded or underfunded status of our defined benefit pension and post-retirement plans as either an asset or liability in the consolidated balance sheet. Actuarial gains and losses that arise during the year are recognized as a component of comprehensive income (loss), net of applicable income taxes, and included in accumulated other comprehensive income (loss). These gains and losses are amortized over future years as a component of the net periodic benefit cost when the net gains and losses exceed 10% of the greater of the market-related value of the plan assets or the projected benefit obligation at the beginning of the year. The amount in excess of the corridor is amortized over the average remaining service period of participating employees expected to receive benefits under the plans. Income Taxes Our estimates of income taxes and the significant items resulting in the recognition of deferred tax assets and liabilities are disclosed in Note 10 and reflect our assessment of future tax consequences of transactions that have been reflected in our financial statements or tax returns for each taxing jurisdiction in which we operate. We base our provision for income taxes on our current period income, changes in our deferred income tax assets and liabilities, income tax rates, changes in estimates of our uncertain tax positions and tax planning opportunities available in the jurisdictions in which we operate. We recognize deferred tax assets and liabilities when there are temporary differences between the financial reporting basis and tax basis of our assets and liabilities and for the expected benefits of using net operating loss and tax credit loss carryforwards. We establish valuation allowances when necessary to reduce the carrying amount of deferred income tax assets to the amounts that we believe are more likely than not to be realized. We evaluate the need to retain all or a portion of the valuation allowance on our deferred tax assets. When a change in the tax rate or tax law has an impact on deferred taxes, we apply the change when the tax law change is enacted, based on the years in which the temporary differences are expected to reverse. As we operate in more than one state, changes in our state apportionment factors, based on operating results, may affect our future effective tax rates and the value of our deferred tax assets and liabilities. We record a change in tax rates in our consolidated financial statements in the period of enactment. Income tax consequences that arise in connection with a business combination include identifying the tax basis of assets and liabilities acquired and any contingencies associated with uncertain tax positions assumed or resulting from the business combination. Deferred tax assets and liabilities related to temporary differences of an acquired entity are recorded as of the date of the business combination and are based on our estimate of the appropriate tax basis that will be accepted by the various taxing authorities. We record unrecognized tax benefits as liabilities in accordance with Accounting Standard Codification (“ASC”) 740, Income Taxes, and adjust these liabilities in the appropriate period when our judgment changes as a result of the evaluation of new information. In certain instances, the ultimate resolution may result in a payment that is materially different from our current estimate of the unrecognized tax benefit liabilities. These differences will be reflected as increases or decreases to income tax expense in the period in which new information is available. We classify interest and penalties, if any, associated with our uncertain tax positions as a component of interest expense and general and administrative expense, respectively. See Note 10 for further discussion on income taxes. Revenue Recognition Effective January 1, 2018, we adopted Accounting Standards Update (“ASU”) No. 2014-09 (“ASU 2014-09”, “ASC 606”, or the “new standard”), Revenue from Contracts with Customers , using the modified retrospective method for open contracts. Results for reporting periods beginning after January 1, 2018 are presented under ASC 606, while prior period amounts are not adjusted and continue to be reported in accordance with our historic accounting practices under ASC 605 (“legacy GAAP”). The adoption of the new standard did not result in a material impact to our systems, processes or internal controls. The largest impact of the adoption of the new standard is related to the treatment of contract acquisition costs, which were previously expensed as incurred; however, under the new standard, these costs are now deferred and amortized over the expected customer life. The adoption also resulted in additional disclosures around the nature and timing of the Company’s performance obligations, deferred revenue contract liabilities and deferred contract cost assets, as well as practical expedients used by the Company in applying the new five-step revenue model. During the year ended December 31, 2018, we recorded a pre-tax cumulative effect adjustment of $4.1 million related to the adoption, which increased retained earnings. Of this amount, $1.8 million was related to the increase in the carrying value of our partnership interests as a result of the adoption of ASC 606 by our equity method partnerships. For a more complete discussion of our investments, refer to Note 4. Nature of Contracts with Customers Our revenue contracts with customers may include a promise or promises to deliver goods such as equipment and/or services such as broadband, video or voice services. Promised goods and services are considered distinct as the customer can benefit from the goods or services either on their own or together with other resources that are readily available to the customer and the Company’s promise to transfer a good or service to the customer is separately identifiable from other promises in the contract. The Company accounts for goods and services as separate performance obligations. Each service is considered a single performance obligation as it is providing a series of distinct services that are substantially the same and have the same pattern of transfer. The transaction price is determined at contract inception and reflects the amount of consideration to which we expect to be entitled in exchange for transferring a good or service to the customer. This amount is generally equal to the market price of the goods and/or services promised in the contract and may include promotional discounts. The transaction price excludes amounts collected on behalf of third parties such as sales taxes and regulatory fees. Conversely, nonrefundable up-front fees, such as service activation and set-up fees, are included in the transaction price. In determining the transaction price, we consider our enforceable rights and obligations within the contract. We do not consider the possibility of a contract being cancelled, renewed or modified. The transaction price is allocated to each performance obligation based on the standalone selling price of the good or service, net of the related discount, as applicable. Revenue is recognized when or as performance obligations are satisfied by transferring control of the good or service to the customer as described below. Disaggregation of Revenue The following table summarizes revenue from contracts with customers for the years ended December 31, 2018, 2017 and 2016: (In thousands) 2018 2017 2016 Operating Revenues Commercial and carrier: Data and transport services (includes VoIP) $ 349,413 $ 274,221 $ 202,294 Voice services 202,875 152,632 94,221 Other 56,395 33,908 12,454 608,683 460,761 308,969 Consumer: Broadband (VoIP and Data) 253,119 183,634 115,179 Video services 88,338 91,406 94,167 Voice services 202,032 137,696 55,834 543,489 412,736 265,180 Equipment sales and service — — 43,138 Subsidies 83,371 62,272 48,362 Network access 152,582 110,196 63,750 Other products and services 10,949 13,609 13,778 Total operating revenues $ 1,399,074 $ 1,059,574 $ 743,177 Services Services revenues, with the exception of usage-based revenues, are generally billed in advance and recognized in subsequent periods when or as services are transferred to the customer. We offer bundled service packages that consists of high-speed Internet, video and voice services including local and long distance calling, voicemail and calling features. Each service is considered distinct and therefore accounted for as a separate performance obligation. Service revenue is recognized over time, consistent with the transfer of service, as the customer simultaneously receives and consumes the benefits provided by the Company’s performance as the Company performs. Usage-based services, such as per-minute long-distance service and access charges billed to other telephone carriers for originating and terminating long-distance calls in our network, are billed in arrears. We recognize revenue from these services when or as services are transferred to the customer. Revenue related to nonrefundable upfront fees, such as service activation and set-up fees are deferred and amortized over the expected customer life as discussed below. Equipment Equipment revenue is generated from the sale of voice and data communications equipment as well as design, configuration, installation and professional support services related to such equipment. Equipment revenue generated from telecommunications systems and structured cabling projects is recognized when or as the project is completed. Maintenance services are provided on both a contract and time and material basis and are recognized when or as services are transferred. Subsidies and Surcharges Subsidies consist of both federal and state subsidies, which are designed to promote widely available, quality telephone service at affordable prices in rural areas. These revenues are calculated by the administering government agency based on information we provid

EARNINGS PER SHARE

EARNINGS PER SHARE	12 Months Ended
	Dec. 31, 2018
EARNINGS PER SHARE
EARNINGS PER SHARE	2. EARNINGS PER SHARE Basic and diluted earnings (loss) per common share (“EPS”) are computed using the two-class method, which is an earnings allocation method that determines EPS for each class of common stock and participating securities considering dividends declared and participation rights in undistributed earnings. The Company’s restricted stock awards are considered participating securities because holders are entitled to receive non-forfeitable dividends during the vesting term. The potentially dilutive impact of the Company’s restricted stock awards is determined using the treasury stock method. Under the treasury stock method, if the average market price during the period exceeds the exercise price, these instruments are treated as if they had been exercised with the proceeds of exercise used to repurchase common stock at the average market price during the period. Any incremental difference between the assumed number of shares issued and repurchased is included in the diluted share computation. Diluted EPS includes securities that could potentially dilute basic EPS during a reporting period. Dilutive securities are not included in the computation of loss per share when a company reports a net loss from continuing operations as the impact would be anti-dilutive. The computation of basic and diluted EPS attributable to common shareholders computed using the two-class method is as follows: (In thousands, except per share amounts) 2018 2017 2016 Net income (loss) $ (50,571) $ 65,299 $ 15,196 Less: net income attributable to noncontrolling interest 263 354 265 Income (loss) attributable to common shareholders before allocation of earnings to participating securities (50,834) 64,945 14,931 Less: earnings allocated to participating securities 810 362 524 Net income (loss) attributable to common shareholders, after earnings allocated to participating securities $ (51,644) $ 64,583 $ 14,407 Weighted-average number of common shares outstanding 70,613 60,373 50,301 Net income (loss) per common share attributable to common shareholders - basic and diluted $ (0.73) $ 1.07 $ 0.29 Diluted EPS attributable to common shareholders excludes 0.5 million shares for the year ended December 31, 2018, and 0.3 million shares for each of the years ended December 31, 2017 and 2016, that could be issued under our share-based compensation plan because the inclusion of the potential common shares would have an antidilutive effect.

ACQUISITIONS AND DIVESTITURES

ACQUISITIONS AND DIVESTITURES	12 Months Ended
	Dec. 31, 2018
ACQUISITIONS AND DIVESTITURES
ACQUISITIONS AND DIVESTITURES	3. ACQUISITIONS AND DIVESTITURES Acquisitions FairPoint Communications, Inc. On July 3, 2017, we completed the Merger with FairPoint and acquired all the issued and outstanding shares of FairPoint in exchange for shares of our common stock. As a result, FairPoint became a wholly-owned subsidiary of the Company. FairPoint is an advanced communications provider to business, wholesale and residential customers within its service territory. FairPoint owns and operates a robust fiber-based network with more than 22,000 route miles of fiber, including 17,000 route miles of fiber in northern New England. The acquisition reflects our strategy to diversify revenue and cash flows amongst multiple products and to expand our network to new markets. At the effective time of the Merger, each share of common stock of FairPoint issued and outstanding immediately prior to the effective time of the Merger converted into and became the right to receive 0.7300 shares of common stock of Consolidated and cash in lieu of fractional shares, pursuant to the terms of the Merger Agreement. Based on the closing price of our common stock on the last complete trading day prior to the effective date of the Merger, the total value of the consideration exchanged was $431.0 million, exclusive of debt repaid by the Company on behalf of FairPoint of approximately $919.3 million. On the date of the Merger, we issued an aggregate total of 20.1 million shares of our common stock to the former FairPoint stockholders and we assumed approximately 2,615,153 outstanding warrants, each eligible to purchase one share of the Company’s common stock at an exercise price of $66.86 per share, subject to adjustment in accordance with the warrant agreement. On January 24, 2018, all of the warrants expired in accordance with their terms without being exercised. In connection with the Merger, we secured committed debt financing in December 2016 through a $935.0 million incremental term loan facility, as described in Note 6, that, in addition to cash on hand and other sources of liquidity, was used to repay the existing indebtedness of FairPoint and pay the fees and expenses in connection with the Merger. The acquisition was accounted for in accordance with the acquisition method of accounting for business combinations. The tangible and intangible assets acquired and liabilities assumed were recorded at their estimated fair values as of the date of the acquisition. The final estimated fair value of the tangible and intangible assets acquired and liabilities assumed are as follows: (In thousands) Cash and cash equivalents $ 56,980 Accounts receivable 72,206 Other current assets 22,012 Assets held for sale 20,843 Property, plant and equipment 1,047,000 Intangible assets 303,180 Other long-term assets 2,685 Total assets acquired 1,524,906 Current liabilities 123,109 Liabilities held for sale 443 Pension and other post-retirement obligations 219,298 Deferred income taxes 96,632 Other long-term liabilities 13,502 Total liabilities assumed 452,984 Net fair value of assets acquired 1,071,922 Goodwill 278,396 Total consideration transferred $ 1,350,318 The valuation of the net assets acquired was finalized during the quarter ended September 30, 2018. During 2018, we made certain adjustments to the fair value of the identifiable assets acquired and liabilities assumed which resulted in an increase in working capital of $9.4 million and long-term liabilities of $2.4 million and decreases in property, plant and equipment of $6.6 million and deferred income taxes of $2.4 million. The net impact of the adjustments increased net assets acquired and decreased goodwill by $2.8 million. There was no impact to the income statement for the year ended December 31, 2018 as a result of these adjustments. Goodwill recognized from the acquisition primarily relates to the expected contributions of the entity to the overall corporate strategy and the synergies expected to be realized from the acquisition. Amortization of goodwill is not deductible for income tax purposes. The identifiable intangible assets acquired consisted of customer relationships of $300.3 million, a tradename of $1.1 million and a non-compete agreement of $1.8 million. The intangible assets were valued using an income based approach (Level 3 inputs) that utilized the multi-period earnings method for customer relationships, the relief from royalty method for the tradename and the with and without method for the non-compete agreement. The customer relationships are being amortized using an accelerated amortization method over their preliminary estimated useful lives of seven to eleven years depending on the nature of the customer. The tradename and non-compete agreement were amortized using the straight-line method over their estimated useful lives of six months and one year, respectively. As discussed in the “Divestitures” section below, we committed to a formal plan to sell certain assets of FairPoint and these assets were classified as held for sale at the acquisition date. In connection with the classification as assets held for sale at the acquisition date, the carrying value of these assets was recorded at their estimated fair value of approximately $20.4 million, which was determined based on the estimated selling price less costs to sell. The sale of these assets was completed on July 31, 2018. The results of operations of FairPoint have been reported in our consolidated financial statements as of the effective date of the acquisition. For the year ended December 31, 2017, FairPoint contributed operating revenues of $389.5 million and net income of $22.7 million, which included $12.3 million in acquisition related costs. Unaudited Pro Forma Results The following unaudited pro forma information presents our results of operations as if the acquisition of FairPoint occurred on January 1, 2016. The adjustments to arrive at the pro forma information below included adjustments for depreciation and amortization on the acquired tangible and intangible assets acquired, interest expense on the debt incurred to finance the acquisition and to repay certain existing indebtedness of FairPoint, and the exclusion of certain acquisition related costs. Shares used to calculate the basic and diluted earnings per share were adjusted to reflect the additional shares of common stock issued to fund the acquisition. (Unaudited; in thousands, except per share amounts) 2017 2016 Operating revenues $ $ Income from operations $ $ Net income $ $ Less: net income attributable to noncontrolling interest Net income attributable to common stockholders $ $ Net income per common share-basic and diluted $ 1.29 $ 1.58 Transaction costs related to the acquisition of FairPoint were $33.0 million during the year ended December 31, 2017, which are included in acquisition and other transaction costs in the consolidated statements of operations. These costs are considered to be non-recurring in nature and therefore pro forma adjustments have been made to exclude these costs from the pro forma results of operations. The pro forma information does not purport to present the actual results that would have resulted if the acquisition had in fact occurred at the beginning of the fiscal periods presented, nor does the information project results for any future period. The pro forma information does not include the impact of any future cost savings or synergies that may be achieved as a result of the acquisition. Champaign Telephone Company, Inc. On July 1, 2016, we acquired substantially all of the assets of Champaign Telephone Company, Inc. and its sister company, Big Broadband Services, LLC, a private business communications provider in the Champaign-Urbana, IL area. The aggregate purchase price, including customary working capital adjustments, consisted of cash consideration of $13.4 million, which was paid from our existing cash resources. The fair value of the acquired assets and liabilities assumed consisted primarily of property, plant and equipment of $6.9 million, intangible assets of $1.0 million, working capital of $0.8 million and goodwill of $4.7 million. Divestitures In August 2017, we entered into a letter of intent to sell all of the issued and outstanding stock of our subsidiaries Peoples Mutual Telephone Company and Peoples Mutual Long Distance Company, (collectively, “Peoples”), which were acquired as part of the acquisition of FairPoint. Peoples operates as a local exchange carrier in Virginia and provides telecommunications services to residential and business customers. As of the FairPoint acquisition date, the net assets to be sold were classified as held for sale in the consolidated balance sheet. The estimated fair value of the net assets held for sale was determined based on the estimated selling price less costs to sell and was classified as Level 2 within the fair value hierarchy at December 31, 2017. The sale of Peoples has not been reported as discontinued operations in the consolidated statements of operations as the annual revenue of these operations is less than 1% of the consolidated operating revenues. The sale of Peoples was completed on July 31, 2018 for total cash proceeds of approximately $21.0 million, net of certain contractual and customary working capital adjustments. During the year ended December 31, 2018, we recognized a loss of $0.2 million on the sale, net of selling costs, which is included in selling, general and administrative expense in the consolidated statement of operations. We recognized a taxable gain on the transaction resulting in current income tax expense of $0.8 million during the year ended December 31, 2018 to reflect the tax impact of the divestiture. At July 31, 2018, the major classes of assets and liabilities sold consisted of the following: (In thousands) Current assets $ 219 Property, plant and equipment 4,749 Goodwill 16,098 Total assets $ 21,066 Current liabilities $ 209 Deferred taxes 148 Total liabilities $ 357 On December 6, 2016, we completed the sale of substantially all of the assets of the Company’s Enterprise Services equipment and IT Services business (“EIS”) to ePlus Technology inc. (“ePlus”) for cash proceeds of $9.2 million net of a customary working capital adjustment. As part of the transaction, we entered into a Co-Marketing Agreement with ePlus, a nationwide systems integrator of technology solutions, to cross-sell both broadband network services and IT services from December 2016 through November 2018. During the year ended December 31, 2016, we recognized a gain of $0.6 million on the sale, net of selling costs, which is included in other, net in the consolidated statement of operations. On May 3, 2016, we entered into a definitive agreement to sell all of the issued and outstanding stock of our non-core, rural local exchange carrier business located in northwest Iowa, Consolidated Communications of Iowa Company (“CCIC”), formerly Heartland Telecommunications Company of Iowa. CCIC provides telecommunications and data services to residential and business customers in 11 rural communities in northwest Iowa and surrounding areas. The sale was completed on September 1, 2016 for total cash proceeds of approximately $21.0 million, net of certain contractual and customary working capital adjustments. In May 2016, in connection with the expected sale, the carrying value of CCIC was reduced to its estimated fair value and we recognized an impairment loss of $0.6 million during the year ended December 31, 2016. We recognized an additional loss on the sale of $0.3 million during the year ended December 31, 2016, which is included in other, net in the consolidated statement of operations, as a result of changes in estimated working capital. We recognized a taxable gain on the transaction resulting in current income tax expense of $7.2 million during the year ended December 31, 2016 to reflect the tax impact of the divestiture.

INVESTMENTS

INVESTMENTS	12 Months Ended
	Dec. 31, 2018
INVESTMENTS
INVESTMENTS	4. INVESTMENTS Our investments are as follows: (In thousands) 2018 2017 Cash surrender value of life insurance policies $ 2,371 $ 2,272 Investments at cost: GTE Mobilnet of South Texas Limited Partnership (2.34% interest) 21,450 21,450 Pittsburgh SMSA Limited Partnership (3.60% interest) 22,950 22,950 CoBank, ACB Stock 9,051 9,105 Other 298 343 Equity method investments: GTE Mobilnet of Texas RSA #17 Limited Partnership (20.51% interest) 17,800 17,375 Pennsylvania RSA 6(I) Limited Partnership (16.67% interest) 7,786 7,300 Pennsylvania RSA 6(II) Limited Partnership (23.67% interest) 29,147 28,063 Totals $ 110,853 $ 108,858 Investments at Cost We own 2.34% of GTE Mobilnet of South Texas Limited Partnership (the “Mobilnet South Partnership”). The principal activity of the Mobilnet South Partnership is providing cellular service in the Houston, Galveston, and Beaumont, Texas metropolitan areas. We also own 3.60% of Pittsburgh SMSA Limited Partnership (“Pittsburgh SMSA”), which provides cellular service in and around the Pittsburgh metropolitan area. Because of our limited influence over these partnerships, we account for these investments at our initial cost less any impairment because fair value is not readily available for these investments. It is not practicable to estimate fair value of these investments. We did not evaluate any of the investments for impairment as no factors indicating impairment existed during the year. For these investments, we adjust the carrying value for any purchases or sales of our ownership interests, if any (there were none during the periods presented). We record distributions received from these investments as investment income in non-operating income (expense). In 2018, 2017 and 2016, we received cash distributions from these partnerships totaling $17.3 million, $12.8 million and $12.9 million, respectively. CoBank, ACB (“CoBank”) is a cooperative bank owned by its customers. Annually, CoBank distributes patronage in the form of cash and stock in the cooperative based on the Company’s outstanding loan balance with CoBank, which has traditionally been a significant lender in the Company’s credit facility. The investment in CoBank represents the accumulation of the equity patronage paid by CoBank to the Company. Equity Method We own 20.51% of GTE Mobilnet of Texas RSA #17 Limited Partnership (“RSA #17”), 16.67% of Pennsylvania RSA 6(I) Limited Partnership (“RSA 6(I)”) and 23.67% of Pennsylvania RSA 6(II) Limited Partnership (“RSA 6(II)”). RSA #17 provides cellular service to a limited rural area in Texas. RSA 6(I) and RSA 6(II) provide cellular service in and around our Pennsylvania service territory. Because we have significant influence over the operating and financial policies of these three entities, we account for the investments using the equity method. In connection with the adoption of ASC 606 by our equity method partnerships, the value of our combined partnership interests increased $1.8 million, which is reflected in the cumulative effect adjustment to retained earnings during the year ended December 31, 2018. In 2018, 2017 and 2016, we received cash distributions from these partnerships totaling $21.8 million, $17.2 million and $19.2 million, respectively. The carrying value of the investments exceeds the underlying equity in net assets of the partnerships by $32.8 million as of December 31, 2018 and 2017. The combined unaudited results of operations and financial position of our three equity investments in the cellular limited partnerships are summarized below: (In thousands) 2018 2017 2016 Total revenues $ 346,251 $ 350,611 $ 334,421 Income from operations 100,571 104,973 97,075 Net income before taxes 99,408 103,497 95,473 Net income 99,408 103,497 95,473 Current assets $ 75,040 $ 78,782 $ 64,083 Non-current assets 103,996 95,959 89,651 Current liabilities 24,719 22,472 21,985 Non-current liabilities 51,840 51,463 51,836 Partnership equity 102,478 100,806 79,913

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	12 Months Ended
	Dec. 31, 2018
FAIR VALUE MEASUREMENTS
FAIR VALUE MEASUREMENTS	5. FAIR VALUE MEASUREMENTS Financial Instruments Our derivative instruments related to interest rate swap agreements are required to be measured at fair value on a recurring basis. The fair values of the interest rate swaps are determined using valuation models and are categorized within Level 2 of the fair value hierarchy as the valuation inputs are based on quoted prices and observable market data of similar instruments. See Note 7 for further discussion regarding our interest rate swap agreements. Our interest rate swap assets and liabilities measured at fair value on a recurring basis at December 31, 2018 and 2017 were as follows: As of December 31, 2018 Quoted Prices Significant In Active Other Significant Markets for Observable Unobservable Identical Assets Inputs Inputs (In thousands) Total (Level 1) (Level 2) (Level 3) Current interest rate swap assets $ 2,465 $ — $ 2,465 $ — Long-term interest rate swap assets 1,524 — 1,524 — Long-term interest rate swap liabilities (6,647) — (6,647) — Total $ (2,658) $ — $ (2,658) $ — As of December 31, 2017 Quoted Prices Significant In Active Other Significant Markets for Observable Unobservable Identical Assets Inputs Inputs (In thousands) Total (Level 1) (Level 2) (Level 3) Long-term interest rate swap assets $ 1,256 $ — $ 1,256 $ — Current interest rate swap liabilities (27) — (27) — Long-term interest rate swap liabilities (1,761) — (1,761) — Total $ (532) $ — $ (532) $ — We have not elected the fair value option for any of our financial assets or liabilities. The carrying value of other financial instruments, including cash, accounts receivable, accounts payable and accrued liabilities approximate fair value due to their short maturities or variable-rate nature of the respective balances. The following table presents the other financial instruments that are not carried at fair value but which require fair value disclosure as of December 31, 2018 and 2017. As of December 31, 2018 As of December 31, 2017 (In thousands) Carrying Value Fair Value Carrying Value Fair Value Investments, equity basis $ 54,733 n/a $ 52,738 n/a Investments, at cost $ 53,749 n/a $ 53,848 n/a Long-term debt, excluding capital leases $ 2,315,077 $ 2,155,127 $ 2,331,400 $ 2,253,545 Cost & Equity Method Investments Our investments at December 31, 2018 and 2017 accounted for at cost and under the equity method consisted primarily of minority positions in various cellular telephone limited partnerships and our investment in CoBank. It is impracticable to determine fair value of these investments. Long-term Debt The fair value of our senior notes was based on quoted market prices, and the fair value of borrowings under our credit facility was determined using current market rates for similar types of borrowing arrangements. We have categorized the long-term debt as Level 2 within the fair value hierarchy.

LONG-TERM DEBT

LONG-TERM DEBT	12 Months Ended
	Dec. 31, 2018
LONG-TERM DEBT
LONG-TERM DEBT	6. LONG-TERM DEBT Long-term debt outstanding, presented net of unamortized discounts, consisted of the following as of December 31, 2018 and 2017: (In thousands) 2018 2017 Senior secured credit facility: Term loans, net of discounts of $6,994 and $8,344 at December 31, 2018 and 2017, respectively $ 1,796,068 $ 1,813,069 Revolving loan 22,000 22,000 6.50% Senior notes due 2022, net of discount of $2,991 and $3,669 at December 31, 2018 and 2017, respectively 497,009 496,331 Capital leases 30,362 23,890 2,345,439 2,355,290 Less: current portion of long-term debt and capital leases (30,468) (29,696) Less: deferred debt issuance costs (11,386) (14,080) Total long-term debt $ 2,303,585 $ 2,311,514 Credit Agreement In October 2016, the Company, through certain of its wholly owned subsidiaries, entered into a Third Amended and Restated Credit Agreement with various financial institutions (as amended, the “Credit Agreement”). The Credit Agreement consists of a $110.0 million revolving credit facility, an initial term loan in the aggregate amount of $900.0 million (the “Initial Term Loan”) and an incremental term loan in the aggregate amount of $935.0 million (the “Incremental Term Loan”), collectively (the “Term Loans”). The Incremental Term Loan was issued on July 3, 2017 upon completion of the FairPoint Merger, as described below. The Credit Agreement also includes an incremental loan facility which provides the ability to borrow, subject to certain terms and conditions, incremental loans in an aggregate amount of up to the greater of (a) $300.0 million and (b) an amount which would cause its senior secured leverage ratio not to exceed 3.00:1.00 (the “Incremental Facility”). Borrowings under the Credit Agreement are secured by substantially all of the assets of the Company and its subsidiaries, with the exception of Consolidated Communications of Illinois Company and our majority-owned subsidiary, East Texas Fiber Line Incorporated. The Initial Term Loan was issued in an original aggregate principal amount of $900.0 million with a maturity date of October 5, 2023, but is subject to earlier maturity on March 31, 2022 if the Company’s unsecured Senior Notes due in October 2022 are not repaid in full or redeemed in full on or prior to March 31, 2022. The Initial Term Loan contains an original issuance discount of 0.25% or $2.3 million, which is being amortized over the term of the loan. The Initial Term Loan requires quarterly principal payments of $2.25 million and has an interest rate of 3.00% plus the London Interbank Offered Rate (“LIBOR“) subject to a 1.00% LIBOR floor. In connection with the execution of the Merger Agreement, in December 2016, the Company entered into two amendments to the Credit Agreement to secure committed financing related to the acquisition of FairPoint. On December 14, 2016, we entered into Amendment No. 1 to the Credit Agreement and on December 21, 2016, the Company entered into Amendment No. 2 to the Credit Agreement, pursuant to which a syndicate of lenders agreed to provide an incremental term loan in an aggregate principal amount of up to $935.0 million under the Credit Agreement, subject to the satisfaction of certain conditions. The Incremental Term Loan was made pursuant to the Incremental Facility set forth in the Credit Agreement. Fees of $2.5 million paid to the lenders in connection with Amendment No. 1 are reflected as an additional discount on the Initial Term Loan and are being amortized over the term of the debt as interest expense. Ticking fees accrued on the incremental term loan commitments from January 15, 2017 through the July 3, 2017 Merger closing date at a rate of 3.00% plus LIBOR subject to a 1.00% LIBOR floor and became due and payable on the closing date. In connection with entering into the committed financing, commitment fees of $14.0 million were capitalized in December 2016 and were amortized to interest expense over the term of the commitment period through July 2017. On July 3, 2017, the Merger with FairPoint was completed and the net proceeds from the incurrence of the Incremental Term Loan were used, in part, to repay and redeem certain existing indebtedness of FairPoint and to pay certain fees and expenses in connection with the Merger and the related financing. The Incremental Term Loan included an original issue discount of 0.50% and has the same maturity date and interest rate as the Initial Term Loan. The Incremental Term Loan requires quarterly principal payments of $2.34 million which began in December 2017. In addition, effective contemporaneously with the Merger, the Company entered into Amendment No. 3 to the Credit Agreement, among other things, to increase the permitted amount of outstanding letters of credit from $15.0 million to $20.0 million and to provide that certain existing letters of credit of FairPoint be deemed to be letters of credit under the Credit Agreement. Our revolving credit facility has a maturity date of October 5, 2021 and an applicable margin (at our election) of between 2.50% and 3.25% for LIBOR-based borrowings or between 1.50% and 2.25% for alternate base rate borrowings, depending on our leverage ratio. Based on our leverage ratio at December 31, 2018, the borrowing margin for the next three month period ending March 31, 2019 will be at a weighted-average margin of 3.00% for a LIBOR-based loan or 2.00% for an alternate base rate loan. The applicable borrowing margin for the revolving credit facility is adjusted quarterly to reflect the leverage ratio from the prior quarter-end. As of December 31, 2018, borrowings of $22.0 million were outstanding under the revolving credit facility, which consisted of LIBOR-based borrowings of $10.0 million and alternate base rate borrowings of $12.0 million. At December 31, 2017, borrowings of $22.0 million were outstanding under the revolving credit facility, which consisted of LIBOR-based borrowings of $17.0 million and alternate base rate borrowings of $5.0 million. Stand-by letters of credit of $16.2 million were outstanding under our revolving credit facility as of December 31, 2018. The stand-by letters of credit are renewable annually and reduce the borrowing availability under the revolving credit facility. As of December 31, 2018, $71.8 million was available for borrowing under the revolving credit facility. The weighted-average interest rate on outstanding borrowings under our credit facility was 5.54% and 4.58% at December 31, 2018 and 2017, respectively. Interest is payable at least quarterly. 2016 Amendment to the Credit Agreement In connection with entering into the restated Credit Agreement in October 2016, we incurred a loss on the extinguishment of debt of $6.6 million during the year ended December 31, 2016 related to the repayment of the outstanding term loan under the previous credit agreement which was scheduled to mature in December 2020. Credit Agreement Covenant Compliance The Credit Agreement contains various provisions and covenants, including, among other items, restrictions on the ability to pay dividends, incur additional indebtedness, and issue certain capital stock. We have agreed to maintain certain financial ratios, including interest coverage and total net leverage ratios, all as defined in the Credit Agreement. As of December 31, 2018, we were in compliance with the Credit Agreement covenants. In general, our Credit Agreement restricts our ability to pay dividends to the amount of our available cash as defined in our Credit Agreement. As of December 31, 2018, and including the $27.6 million dividend declared in October 2018 and paid on February 1, 2019, we had $322.2 million in dividend availability under the credit facility covenant. Under our Credit Agreement, if our total net leverage ratio, as defined in the Credit Agreement, as of the end of any fiscal quarter, is greater than 5.10:1.00, we will be required to suspend dividends on our common stock unless otherwise permitted by an exception for dividends that may be paid from the portion of proceeds of any sale of equity not used to fund acquisitions, or make other investments. During any dividend suspension period, we will be required to repay debt in an amount equal to 50.0% of any increase in available cash, among other things. In addition, we will not be permitted to pay dividends if an event of default under the Credit Agreement has occurred and is continuing. Among other things, it will be an event of default if our total net leverage ratio and interest coverage ratio as of the end of any fiscal quarter is greater than 5.25:1.00 and less than 2.25:1.00, respectively. As of December 31, 2018, our total net leverage ratio under the Credit Agreement was 4.37:1.00, and our interest coverage ratio was 3.99:1.00. Senior Notes 6.50% Senior Notes due 2022 In September 2014, we completed an offering of $200.0 million aggregate principal amount of 6.50% Senior Notes due in October 2022 (the “Existing Notes”). The Existing Notes were priced at par, which resulted in total gross proceeds of $200.0 million. On June 8, 2015, we completed an additional offering of $300.0 million in aggregate principal amount of 6.50% Senior Notes due 2022 (the “New Notes” and together with the Existing Notes, the “Senior Notes”). The New Notes were issued as additional notes under the same indenture pursuant to which the Existing Notes were previously issued on in September 2014. The New Notes were priced at 98.26% of par with a yield to maturity of 6.80% and resulted in total gross proceeds of approximately $294.8 million, excluding accrued interest. The discount is being amortized using the effective interest method over the term of the notes. The Senior Notes mature on October 1, 2022 and interest is payable semi-annually on April 1 and October 1 of each year. Consolidated Communications, Inc. (“CCI”) is the primary obligor under the Senior Notes, and we and certain of our wholly‑owned subsidiaries, including certain of the FairPoint subsidiaries, have fully and unconditionally guaranteed the Senior Notes. The Senior Notes are senior unsecured obligations of the Company. In October 2015, we completed an exchange offer to register all of the Senior Notes under the Securities Act of 1933 (“Securities Act”). The terms of the registered Senior Notes are substantially identical to those of the Senior Notes prior to the exchange, except that the Senior Notes are now registered under the Securities Act and the transfer restrictions and registration rights previously applicable to the Senior Notes no longer apply to the registered Senior Notes. The exchange offer did not impact the aggregate principal amount or the remaining terms of the Senior Notes outstanding. Senior Notes Covenant Compliance Subject to certain exceptions and qualifications, the indenture governing the Senior Notes contains customary covenants that, among other things, limits CCI’s and its restricted subsidiaries’ ability to: incur additional debt or issue certain preferred stock; pay dividends or make other distributions on capital stock or prepay subordinated indebtedness; purchase or redeem any equity interests; make investments; create liens; sell assets; enter into agreements that restrict dividends or other payments by restricted subsidiaries; consolidate, merge or transfer all or substantially all of its assets; engage in transactions with its affiliates; or enter into any sale and leaseback transactions. The indenture also contains customary events of default. Among other matters, the Senior Notes indenture provides that CCI may not pay dividends or make other restricted payments, as defined in the indenture, if its total net leverage ratio is 4.75:1.00 or greater. This ratio is calculated differently than the comparable ratio under the Credit Agreement; among other differences, it takes into account, on a pro forma basis, synergies expected to be achieved as a result of certain acquisitions but not yet reflected in historical results. At December 31, 2018, this ratio was 4.43:1.00. If this ratio is met, dividends and other restricted payments may be made from cumulative consolidated cash flow since April 1, 2012, less 1.75 times fixed charges, less dividends and other restricted payments made since May 30, 2012. Dividends may be paid and other restricted payments may also be made from a “basket” of $50.0 million, none of which has been used to date, and pursuant to other exceptions identified in the indenture. Since dividends of $543.7 million have been paid since May 30, 2012, including the quarterly dividend declared in October 2018 and paid on February 1, 2019, there was $1,102.0 million of the $1,645.8 million of cumulative consolidated cash flow since May 30, 2012 available to pay dividends at December 31, 2018. At December 31, 2018, the Company was in compliance with all terms, conditions and covenants under the indenture governing the Senior Notes. Future Maturities of Debt At December 31, 2018, the aggregate maturities of our long-term debt excluding capital leases were as follows: (In thousands) 2019 $ 2020 2021 2022 2023 1,729,662 Total maturities 2,325,062 Less: Unamortized discount $ See Note 11 regarding the future maturities of our obligations for capital leases.

DERIVATIVE FINANCIAL INSTRUMENT

DERIVATIVE FINANCIAL INSTRUMENTS	12 Months Ended
	Dec. 31, 2018
DERIVATIVE FINANCIAL INSTRUMENTS
DERIVATIVE FINANCIAL INSTRUMENTS	7. DERIVATIVE FINANCIAL INSTRUMENTS We may utilize interest rate swap agreements to mitigate risk associated with fluctuations in interest rates related to our variable rate debt obligations under the Credit Agreement. Derivative financial instruments are recorded at fair value in our consolidated balance sheet. The following interest rate swaps were outstanding at December 31, 2018: Notional (In thousands) Amount 2018 Balance Sheet Location Fair Value Cash Flow Hedges: Fixed to 1-month floating LIBOR (with floor) $ Prepaid expenses and other current assets $ Forward starting fixed to 1-month floating LIBOR (with floor) $ Other assets Fixed to 1-month floating LIBOR (with floor) $ Other long-term liabilities Forward starting fixed to 1-month floating LIBOR (with floor) $ Other long-term liabilities Total Fair Values $ Our interest rate swap agreements mature on various dates between September 2019 and July 2023. The forward-starting interest rate swap agreements, each with a term of one year, become effective in July 2019 and July 2020. The following interest rate swaps were outstanding at December 31, 2017: Notional (In thousands) Amount 2017 Balance Sheet Location Fair Value Cash Flow Hedges: Fixed to 1-month floating LIBOR (with floor) $ Other assets $ Fixed to 1-month floating LIBOR (with floor) $ Accrued expense Forward starting fixed to 1-month floating LIBOR (with floor) $ Other assets Series of forward starting fixed to 1-month floating LIBOR (with floor) $ Other long-term liabilities Total Fair Values $ The counterparties to our various swaps are highly rated financial institutions. None of the swap agreements provide for either us or the counterparties to post collateral nor do the agreements include any covenants related to the financial condition of Consolidated or the counterparties. The swaps of any counterparty that is a lender, as defined in our credit facility, are secured along with the other creditors under the credit facility. Each of the swap agreements provides that in the event of a bankruptcy filing by either Consolidated or the counterparty, any amounts owed between the two parties would be offset in order to determine the net amount due between parties. In 2018, we entered into an interest rate swap agreement with a notional value of $500.0 million and a term of five years. The interest rate swap agreement was designated as a cash flow hedge at inception. On March 12, 2018, we completed a syndication of a portion of the $500.0 million interest rate swap agreement with five new counterparties. On the date of the syndication, the interest rate swap agreements were de-designated due to changes in critical terms as a result of the syndication. Prior to de-designation, the effective portion of the change in fair value of the interest rate swap was recognized in AOCI. The balance of the unrealized loss included in AOCI as of the date the swaps were de-designated is being amortized to earnings over the remaining term of the interest rate swap agreements. In April 2018, the interest rate swap agreements were re-designated as a cash flow hedge. Changes in fair value of the de-designated swaps were immediately recognized in earnings as interest expense prior to the re-designation date. During the year ended December 31, 2018, a loss of $2.5 million was recognized in interest expense for the change in fair value of the de-designated swaps. At December 31, 2018 and 2017, the pre-tax unrealized gains related to our interest rate swap agreements included in AOCI were $3.2 million and $0.6 million, respectively. The estimated amount of deferred pre-tax gains included in AOCI as of December 31, 2018 that will be recognized in earnings as interest expense in the next twelve months is approximately $1.5 million. The following table presents the effect of interest rate derivatives designated as cash flow hedges on AOCI and on the consolidated statements of operations for the years ended December 31, 2018, 2017 and 2016: (In thousands) 2018 2017 2016 Unrealized loss recognized in AOCI, pretax $ (935) $ (411) $ (469) Deferred losses reclassified from AOCI to interest expense $ $ $ Gain (loss) recognized in interest expense from ineffectiveness $ 649 $ $ 242

EQUITY

EQUITY	12 Months Ended
	Dec. 31, 2018
EQUITY
EQUITY	8. EQUITY Dividends Our Board of Directors declared quarterly dividends of approximately $0.38738 per share during 2018. On February 18, 2019, the Board of Directors declared a dividend of approximately $0.38738 per share, payable on May 1, 2019 to stockholders of record on April 15, 2019. At this time, we anticipate continuing our current dividend policy, which pays quarterly dividends of approximately $0.38738 per share. Future dividend payments are at the discretion of our Board of Directors. Changes in our dividend program will depend on our earnings, capital requirements, financial condition, debt covenant compliance, expected cash needs and other factors considered relevant by our Board of Directors. Dividends on our common stock are not cumulative. Share-based Compensation Our Board of Directors may grant share-based awards from our shareholder approved Amended and Restated Consolidated Communications Holdings, Inc. 2005 Long-Term Incentive Plan (the “Plan”). The Plan permits the issuance of awards in the form of stock options, stock appreciation rights, stock grants, stock unit grants and other equity-based awards to eligible directors and employees at the discretion of the Compensation Committee of the Board of Directors. On April 30, 2018, the shareholders approved an amendment to the Plan to increase by 2,000,000 the number of shares of our common stock authorized for issuance under the Plan and extend the term of the Plan through April 30, 2028. With the amendment, approximately 4,650,000 shares of our common stock are authorized for issuance under the Plan, provided that no more than 300,000 shares may be granted in the form of stock options or stock appreciation rights to any eligible employee or director in any calendar year. Unless terminated sooner, the Plan will continue in effect until April 30, 2028. We measure the fair value of RSAs based on the market price of the underlying common stock on the date of grant. We recognize the expense associated with RSAs on a straight-line basis over the requisite service period, which generally ranges from immediate vesting to a four year vesting period. We implemented an ongoing performance-based incentive program under the Plan. The performance-based incentive program provides for annual grants of PSAs. PSAs are restricted stock that are issued, to the extent earned, at the end of each performance cycle. Under the performance-based incentive program, each participant is given a target award expressed as a number of shares, with a payout opportunity ranging from 0% to 120% of the target, depending on performance relative to predetermined goals. An estimate of the number of PSAs that are expected to vest is made, and the fair value of the PSAs is expensed utilizing the fair value on the date of grant over the requisite service period. The following table summarizes grants of RSAs and PSAs under the Plan during the years ended December 31, 2018, 2017 and 2016: Year Ended December 31, Grant Date Grant Date Grant Date 2018 Fair Value 2017 Fair Value 2016 Fair Value RSAs Granted 478,210 $ 12.45 124,100 $ 23.12 100,040 $ 23.95 PSAs Granted — $ — 36,982 $ 23.27 94,066 $ 20.86 Total 478,210 161,082 194,106 The following table summarizes the RSA and PSA activity during the year ended December 31, 2018: RSAs PSAs Weighted Weighted Average Grant Average Grant Shares Date Fair Value Shares Date Fair Value Non-vested shares outstanding - January 1, 2018 102,181 $ 23.32 77,528 $ 21.46 Shares granted 478,210 $ 12.45 — $ — Shares vested (223,604) $ 14.43 (40,304) $ 21.00 Shares forfeited, cancelled or retired (18,016) $ 14.66 (1,598) $ 21.53 Non-vested shares outstanding - December 31, 2018 338,771 $ 14.31 35,626 $ 21.97 The total fair value of the RSAs and PSAs that vested during the years ended December 31, 2018, 2017 and 2016 was $4.1 million, $3.4 million and $3.4 million, respectively. Share-based Compensation Expense The following table summarizes total compensation costs recognized for share-based payments during the years ended December 31, 2018, 2017 and 2016: Year Ended December 31, (In thousands) 2018 2017 2016 Restricted stock $ 3,249 $ 1,986 $ 2,088 Performance shares 1,870 780 929 Total $ 5,119 $ 2,766 $ 3,017 Income tax benefits related to share-based compensation of approximately $1.3 million, $1.1 million and $1.2 million were recorded for the years ended December 31, 2018, 2017 and 2016, respectively. Share-based compensation expense is included in “selling, general and administrative expenses” in the accompanying consolidated statements of operations. As of December 31, 2018, total unrecognized compensation cost related to non-vested RSAs and PSAs was $9.0 million and will be recognized over a weighted-average period of approximately 1.8 years. Accumulated Other Comprehensive Income (Loss) The following table summarizes the changes in accumulated other comprehensive income (loss), net of tax, by component during 2018 and 2017: Pension and Post-Retirement Derivative (In thousands) Obligations Instruments Total Balance at December 31, 2016 $ (47,150) $ (127) $ (47,277) Other comprehensive loss before reclassifications (4,467) (250) (4,717) Amounts reclassified from accumulated other comprehensive loss 3,153 758 3,911 Net current period other comprehensive loss (1,314) 508 (806) Balance at December 31, 2017 $ (48,464) $ 381 $ (48,083) Other comprehensive loss before reclassifications (10,835) (691) (11,526) Amounts reclassified from accumulated other comprehensive loss 3,785 2,612 6,397 Net current period other comprehensive income (loss) (7,050) 1,921 (5,129) Balance at December 31, 2018 $ (55,514) $ 2,302 $ (53,212) The following table summarizes reclassifications from accumulated other comprehensive loss during 2018 and 2017: Amount Reclassified from AOCI Year Ended December 31, Affected Line Item in the (In thousands) 2018 2017 Statement of Income Amortization of pension and post-retirement items: Prior service credit $ $ (a) Actuarial loss (a) Plan curtailment — (a) Settlement loss — (a) Total before tax Tax benefit $ $ Net of tax Loss on cash flow hedges: Interest rate derivatives $ $ Interest expense Tax benefit $ $ Net of tax (a) These items are included in the components of net periodic benefit cost for our pension and post-retirement benefit plans. See Note 9 for additional details.

PENSION PLAN AND OTHER POST-RET

PENSION PLAN AND OTHER POST-RETIREMENT BENEFITS	12 Months Ended
	Dec. 31, 2018
PENSION PLAN AND OTHER POST-RETIREMENT BENEFITS
PENSION PLAN AND OTHER POST-RETIREMENT BENEFITS	9. PENSION PLANS AND OTHER POST-RETIREMENT BENEFITS Defined Benefit Plans We sponsor a qualified defined benefit pension plan (“Retirement Plan”) that is non-contributory covering certain of our hourly employees under collective bargaining agreements who fulfill minimum age and service requirements. Certain salaried employees are also covered by the Retirement Plan, although these benefits have previously been frozen. The Retirement Plan is closed to all new entrants. Benefits for eligible participants under collective bargaining agreements are accrued based on a cash balance benefit plan. As part of our acquisition of FairPoint, we assumed sponsorship of its two non-contributory qualified defined benefit pension plans (together, the “Qualified Pension Plan”). The Qualified Pension Plan for certain non-management employees under collective bargaining agreements is closed to new participants and benefits have previously been frozen. For existing participants, benefit accruals are capped at 30 years of total credited service. The Qualified Pension Plan for certain management employees is frozen and all future benefit accruals for existing participants have ceased. We also have two non-qualified supplemental retirement plans (the “Supplemental Plans” and, together with the Retirement Plan and the Qualified Pension Plan, the “Pension Plans”). The Supplemental Plans provide supplemental retirement benefits to certain former employees by providing for incremental pension payments to partially offset the reduction of the amount that would have been payable under the qualified defined benefit pension plans if it were not for limitations imposed by federal income tax regulations. The Supplemental Plans have previously been frozen so that no person is eligible to become a new participant. These plans are unfunded and have no assets. The benefits paid under the Supplemental Plans are paid from the general operating funds of the Company. The following tables summarize the change in benefit obligation, plan assets and funded status of the Pension Plans as of December 31, 2018 and 2017: (In thousands) 2018 2017 Change in benefit obligation Benefit obligation at the beginning of the year $ $ Service cost Interest cost Actuarial loss (gain) Benefits paid Acquisition — Plan amendments — Plan curtailment Plan settlement (3,279) Benefit obligation at the end of the year $ $ 777,987 (In thousands) 2018 2017 Change in plan assets Fair value of plan assets at the beginning of the year $ $ Employer contributions Actual return on plan assets Benefits paid Acquisition — Plan settlement Fair value of plan assets at the end of the year $ $ 552,240 Funded status at year end $ $ Amounts recognized in the consolidated balance sheets at December 31, 2018 and 2017 consisted of: ( In thousands) 2018 2017 Current liabilities $ $ Long-term liabilities $ $ Amounts recognized in accumulated other comprehensive loss for the years ended December 31, 2018 and 2017 consisted of: (In thousands) 2018 2017 Unamortized prior service cost (credit) $ 1,175 $ Unamortized net actuarial loss 95,362 85,984 $ 96,537 $ 84,583 The following table summarizes the components of net periodic pension cost recognized in the consolidated statements of operations for the plans for the years ended December 31, 2018, 2017 and 2016: (In thousands) 2018 2017 2016 Service cost $ 5,809 $ 3,055 $ 343 Interest cost 28,870 21,882 16,291 Expected return on plan assets Amortization of: Net actuarial loss 6,110 6,244 5,423 Prior service credit Plan curtailment — Plan settlement 94 17 — Net periodic pension cost $ 883 $ 1,086 $ 964 The components of net periodic pension cost other than the service cost component are included in other, net within other income (expense) in the consolidated statements of operations. In 2018 and 2017, the Retirement Plan was amended to freeze benefit accruals under the cash balance benefit plan for certain participants under collective bargaining agreements. As a result of these amendments, we recognized a pre-tax curtailment gain of $1.2 million and $1.3 million as a component of net periodic pension cost during the years ended December 31, 2018 and 2017, respectively. The following table summarizes other changes in plan assets and benefit obligations recognized in other comprehensive loss, before tax effects, during 2018 and 2017: (In thousands) 2018 2017 Actuarial loss, net $ $ Recognized actuarial loss Prior service cost 1,216 — Recognized prior service credit Plan curtailment Plan settlement Total amount recognized in other comprehensive loss, before tax effects $ $ 4,270 The estimated net actuarial loss and net prior service cost for the defined benefit pension plans that will be amortized from accumulated other comprehensive loss in net periodic pension cost in 2019 is $2.8 million and $0.1 million, respectively. The weighted-average assumptions used to determine the projected benefit obligations and net periodic benefit cost for the years ended December 31, 2018, 2017 and 2016 were as follows: Discount rate - net periodic benefit cost 3.75 % 4.02 % 4.76 % Discount rate - benefit obligation 4.39 % 3.75 % 4.27 % Expected long-term rate of return on plan assets 7.03 % 7.23 % 7.75 % Rate of compensation/salary increase 2.50 % 2.39 % % Other Non-qualified Deferred Compensation Agreements We also are liable for deferred compensation agreements with former members of the board of directors and certain other former employees of acquired companies. Depending on the plan, benefits are payable in monthly or annual installments for a period of time based on the terms of the agreement which range from five years up to the life of the participant or to the beneficiary upon death of the participant and may begin as early as age 55. Participants accrue no new benefits as these plans had previously been frozen. Payments related to the deferred compensation agreements totaled approximately $0.3 million and $0.2 million for the years ended December 31, 2018 and 2017, respectively. The net present value of the remaining obligations was approximately $1.6 million and $1.9 million at December 31, 2018 and 2017, respectively, and is included in pension and post-retirement benefit obligations in the accompanying balance sheets. We also maintain 25 life insurance policies on certain of the participating former directors and employees. The excess of the cash surrender value of the remaining life insurance policies over the notes payable balances related to these policies is determined by an independent consultant, and totaled $2.4 million and $2.3 million at December 31, 2018 and 2017, respectively. These amounts are included in investments in the accompanying consolidated balance sheets. Cash principal payments for the policies and any proceeds from the policies are classified as operating activities in the consolidated statements of cash flows. The aggregate death benefit payment payable under these policies totaled $7.0 million as of December 31, 2018 and 2017. Post-retirement Benefit Obligations We sponsor various healthcare and life insurance plans (“Post-retirement Plans”) that provide post-retirement medical and life insurance benefits to certain groups of retired employees. Certain plans have previously been frozen so that no person is eligible to become a new participant. Retirees share in the cost of healthcare benefits, making contributions that are adjusted periodically—either based upon collective bargaining agreements or because total costs of the program have changed. Covered expenses for retiree health benefits are paid as they are incurred. Post-retirement life insurance benefits are fully insured. A majority of the healthcare plans are unfunded and have no assets, and benefits are paid from the general operating funds of the Company. However, a plan acquired in the purchase of another company is funded by assets that are separately designated within the Retirement Plan for the sole purpose of providing payments of the retiree medical benefits for this specific plan. In connection with the acquisition of FairPoint, we have acquired its post-retirement benefit plan as of the date of acquisition. The post-retirement benefit plan provides medical, dental and life insurance benefits to certain eligible employees and in some instances, to their spouses and families. The post-retirement benefit plan is unfunded and the Company funds the benefits that are paid. The following tables summarize the change in benefit obligation, plan assets and funded status of the post-retirement benefit obligations as of December 31, 2018 and 2017: (In thousands) 2018 2017 Change in benefit obligation Benefit obligation at the beginning of the year $ $ Service cost Interest cost Plan participant contributions Actuarial gain Benefits paid (10,130) (6,934) Plan amendments 6,662 — Acquisition — 76,413 Benefit obligation at the end of the year $ $ 116,970 (In thousands) 2018 2017 Change in plan assets Fair value of plan assets at the beginning of the year $ 2,484 $ 2,286 Employer contributions 9,746 6,478 Plan participant’s contributions 384 456 Actual return on plan assets 307 198 Benefits paid Fair value of plan assets at the end of the year $ 2,791 $ 2,484 Funded status at year end $ $ Amounts recognized in the consolidated balance sheets at December 31, 2018 and 2017 consist of: (In thousands) 2018 2017 Current liabilities $ $ Long-term liabilities $ $ Amounts recognized in accumulated other comprehensive loss for the years ended December 31, 2018 and 2017 consist of: (In thousands) 2018 2017 Unamortized prior service cost (credit) $ 2,200 $ Unamortized net actuarial loss gain $ $ The following table summarizes the components of the net periodic costs for post-retirement benefits for the years ended December 31, 2018, 2017 and 2016: (In thousands) 2018 2017 2016 Service cost $ 405 $ 498 $ 602 Interest cost 4,128 3,034 2,019 Expected return on plan assets Amortization of: Net actuarial gain (56) (173) — Prior service cost (credit) 367 Net periodic postretirement benefit cost $ 4,702 $ 2,725 $ 1,952 The components of net periodic post-retirement benefit cost other than the service cost component are included in other, net within other income (expense) in the consolidated statements of operations. Our Post-retirement Plans were amended as a result of new collective bargaining agreements ratified in 2018, which resulted in an increase in our post-retirement benefit obligation of $6.7 million and net periodic post-retirement benefit cost of approximately $1.4 million during the year ended December 31, 2018. The following table summarizes other changes in plan assets and benefit obligations recognized in other comprehensive loss, before tax effects, during 2018 and 2017: (In thousands) 2018 2017 Actuarial gain, net $ $ Recognized actuarial gain 56 173 Prior service cost 6,662 — Recognized prior service (cost) credit Total amount recognized in other comprehensive loss, before tax effects $ $ (2,205) The estimated net actuarial gain and net prior service cost that will be amortized from accumulated other comprehensive loss in net periodic postretirement cost in 2019 is approximately $(0.4) million and $3.1 million, respectively. The weighted-average discount rate assumptions utilized for the years ended December 31 were as follows: 2018 2017 2016 Net periodic benefit cost 3.62 % 3.96 % 4.61 % Benefit obligation 4.35 % 3.67 % 4.12 % For purposes of determining the cost and obligation for post-retirement medical benefits, a 7.00% healthcare cost trend rate was assumed for the plan in 2018, declining to the ultimate trend rate of 5.00% in 2023. Assumed healthcare cost trend rates have a significant effect on the amounts reported for healthcare plans. A one percent change in the assumed healthcare cost trend rate would have had the following effects: (In thousands) 1% Increase 1% Decrease Effect on total of service and interest cost $ 137 $ Effect on postretirement benefit obligation $ 2,324 $ Plan Assets Our investment strategy is designed to provide a stable environment to earn a rate of return over time to satisfy the benefit obligations and minimize the reliance on contributions as a source of benefit security. The objectives are based on a long-term (5 to 15 year) investment horizon, so that interim fluctuations should be viewed with appropriate perspective. The assets of the fund are to be invested to achieve the greatest return for the pension plans consistent with a prudent level of risk. The asset return objective is to achieve, as a minimum over time, the passively managed return earned by managed index funds, weighted in the proportions outlined by the asset class exposures identified in the pension plan’s strategic allocation. We update our long-term, strategic asset allocations every few years to ensure they are in line with our fund objectives. The weighted average target allocation of the Pension Plan assets is approximately 66% in equities with the remainder in fixed income funds and cash equivalents. Currently, we believe that there are no significant concentrations of risk associated with the Pension Plan assets. The following is a description of the valuation methodologies for assets measured at fair value utilizing the fair value hierarchy discussed in Note 1, which prioritizes the inputs used in the valuation methodologies in measuring fair value. The fair value measurements used to value our plan assets as of December 31, 2018 were generated by using market transactions involving identical or comparable assets. There were no changes in the valuation techniques used during 2018. Common and Preferred Stocks: Includes domestic and international common and preferred stocks and are valued at the closing price as of the measurement date as reported on the active market on which the individual securities are traded. Mutual Funds: Valued at the closing price reported on the active market on which the funds are traded. U.S. Treasury and Government Agency Securities: Valued at the closing price reported on the active market on which the individual securities are traded (Level 1). Government issued mortgage-backed securities are valued based on external pricing indices (Level 2). Corporate and Municipal Bonds: Valued based on yields currently available on comparable securities of issuers with similar credit ratings. Mortgage/Asset-backed Securities: Valued based on market prices from external pricing indices based on recent market activity. Common Collective Trusts and Commingled Funds: Units in the fund are valued based on the NAV of the funds, which is based on the fair value of the underlying investments held by the fund less its liabilities as reported by the issuer of the fund. The NAV per share is used as a practical expedient to estimate fair value. This practical expedient is not used when it is determined to be probable that the fund will sell the investment for an amount different than the reported net asset value. These investments have no unfunded commitments, are redeemable daily or monthly and have redemption notice periods of up to 10 days. The fair values of our assets for our defined benefit pension plans at December 31, 2018 and 2017, by asset category were as follows: As of December 31, 2018 Quoted Prices Significant In Active Other Significant Markets for Observable Unobservable Identical Assets Inputs Inputs (In thousands) Total (Level 1) (Level 2) (Level 3) Cash and cash equivalents $ $ 15,107 $ — $ — Equities: Stocks: U.S. common stocks 46,830 — — International stocks 9,656 — — Funds: U.S. small cap 7,222 — — U.S. mid cap 30,752 — — U.S. large cap 51,847 — — Emerging markets 15,954 — — International 81,398 — — Fixed Income: U.S. treasury and government agency securities 25,616 — — Corporate and municipal bonds — 36,700 — Mortgage/asset-backed securities — 8,733 — Mutual funds 10,763 — — Total plan assets in the fair value hierarchy $ 295,145 $ 45,433 $ — Common Collective Trusts measured at NAV: (1) Short-term investments (2) Equities: U.S. small cap U.S. large cap Emerging markets International Fixed Income 103,345 Total plan assets Other liabilities (3) Net plan assets $ 499,791 As of December 31, 2017 Quoted Prices Significant In Active Other Significant Markets for Observable Unobservable Identical Assets Inputs Inputs (In thousands) Total (Level 1) (Level 2) (Level 3) Cash and cash equivalents $ 10,383 $ 10,383 $ — $ — Equities: Stocks: U.S. common stocks 62,088 62,088 — — International stocks 12,310 12,310 — — Funds: U.S. small cap 5,874 5,874 — — U.S. mid cap 36,306 36,306 — — U.S. large cap 45,427 45,427 — — Emerging markets 18,736 18,736 — — International 104,403 104,403 — — Fixed Income: U.S. treasury and government agency securities 27,192 27,190 2 — Corporate and municipal bonds 37,069 — 37,069 — Mortgage/asset-backed securities 9,024 — 9,024 — Mutual funds 12,140 12,140 — — Total plan assets in the fair value hierarchy $ 334,857 $ 46,095 $ — Common Collective Trusts measured at NAV: (1) Short-term investments (2) Equities: U.S. small cap U.S. large cap Emerging markets International Fixed Income 104,282 Total plan assets Other liabilities (3) Net plan assets $ 552,240 (1) Certain investments that are measured at fair value using NAV per share as a practical expedient have not been categorized in the fair value hierarchy. The fair value amounts presented in these tables are intended to permit reconciliation of the fair value hierarchy to the total plan assets. (2) Short-term investments include an investment in a common collective trust which is principally comprised of certificates of deposit, commercial paper, U.S. government obligations and variable rate securities with maturities less than one year. (3) Net amount due for securities purchased and sold. The fair values of our assets for our post-retirement benefit plans at December 31, 2018 and 2017 were as follows: As of December 31, 2018 Quoted Prices Significant In Active Other Significant Markets for Observable Unobservable Identical Assets Inputs Inputs (In thousands) Total (Level 1) (Level 2) (Level 3) Cash and cash equivalents $ 4 $ 4 $ — $ — Equities: U.S. common stocks 240 240 — — International stocks 83 83 — — Funds: U.S. mid cap 75 75 — U.S. large cap 74 74 — — Emerging markets 188 188 — — International 449 449 — — Total plan assets in the fair value hierarchy 1,113 $ 1,113 $ — $ — Common Collective Trusts measured at NAV: (1) Short-term investments (2) 61 Equities: U.S. small cap 123 U.S. large cap 133 Emerging markets 103 International 181 Fixed Income 1,220 Total plan assets 2,934 Benefit payments payable Other liabilities (3) Net plan assets $ 2,791 As of December 31, 2017 Quoted Prices Significant In Active Other Significant Markets for Observable Unobservable Identical Assets Inputs Inputs (In thousands) Total (Level 1) (Level 2) (Level 3) Cash and cash equivalents $ 4 $ 4 $ — $ — Equities: U.S. common stocks 242 242 — — International stocks 76 76 — — Funds: U.S. mid cap 92 92 — — U.S. large cap 73 73 — — Emerging markets 176 176 — — International 487 487 — — Total plan assets in the fair value hierarchy $ 1,150 $ — $ — Common Collective Trusts measured at NAV: (1) Short-term investments (2) Equities: U.S. small cap U.S. large cap Emerging markets International Fixed Income 978 Total plan assets 2,710 Benefit payments payable (225) Other liabilities (3) (1) Net plan assets $ 2,484 (1) Certain investments that are measured at fair value using NAV per share as a practical expedient have not been categorized in the fair value hierarchy. The fair value amounts presented in these tables are intended to permit reconciliation of the fair value hierarchy to the total plan assets. (2) Short-term investments include investment in a common collective trust which is principally comprised of certificates of deposit, commercial paper and U.S. government obligations with maturities less than one year. (3) Net amount due for securities purchased and sold. Cash Flows Contributions Our funding policy is to contribute annually an actuarially determined amount necessary to meet the minimum funding requirements as set forth in employee benefit and tax laws. We expect to contribute approximately $26.3 million to our Pension Plans and $9.5 million to our other post-retirement plans in 2019. Estimated Future Benefit Payments As of December 31, 2018, benefit payments expected to be paid over the next ten years are outlined in the following table: Other Pension Post-retirement (In thousands) Plans Plans 2019 $ 34,255 $ 9,526 2020 35,836 9,407 2021 36,574 9,374 2022 37,718 9,183 2023 38,444 8,718 2024 - 2028 206,600 36,862 Defined Contribution Plans We offer defined contribution 401(k) plans to substantially all of our employees. Contributions made under the defined contribution plans include a match, at the Company’s discretion, of employee contributions to the plans. We recognized expense with respect to these plans of $13.7 million, $9.6 million and $6.5 million in 2018, 2017 and 2016, respectively. The increase in 2018 and 2017 is attributable to the acquisition of FairPoint which accounted for $7.6 million and $3.8 million, respectively, of the total expense.

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2018
INCOME TAXES
INCOME TAXES	10. INCOME TAXES Income tax expense (benefit) consists of the following components: For the Year Ended (In thousands) 2018 2017 2016 Current: Federal $ 247 $ 1,055 $ 1,390 State 1,634 145 709 Total current expense 1,881 1,200 2,099 Deferred: Federal (17,248) (141,726) 20,087 State (8,760) 15,599 776 Total deferred expense (benefit) (26,008) (126,127) 20,863 Total income tax expense (benefit) $ (24,127) $ (124,927) $ 22,962 The following is a reconciliation of the federal statutory tax rate to the effective tax rate for the years ended December 31, 2018, 2017 and 2016: For the Year Ended (In percentages) 2018 2017 2016 Statutory federal income tax rate 21.0 % 35.0 % 35.0 % State income taxes, net of federal benefit 5.2 4.1 2.9 Transaction costs - (5.8) — Other permanent differences (0.9) 0.2 0.9 Change in deferred tax rate 3.7 (9.1) (4.0) Change in deferred tax rate - Federal Tax Reform 6.9 189.4 — Valuation allowance (2.3) (4.3) 1.6 Provision to return 0.5 — 0.3 Sale of stock in subsidiary (1.0) — 19.1 Non deductible goodwill - — 3.8 Acquisition related (1.3) — — Other 0.5 — 0.6 32.3 % 209.5 % 60.2 % Deferred Taxes The components of the net deferred tax liability are as follows: Year Ended December 31, (In thousands) 2018 2017 Non-current deferred tax assets: Reserve for uncollectible accounts $ $ Accrued vacation pay deducted when paid Accrued expenses and deferred revenue Net operating loss carryforwards Pension and postretirement obligations Share-based compensation 9 — Derivative instruments Financing costs Tax credit carryforwards Valuation allowance Net non-current deferred tax assets Non-current deferred tax liabilities: Goodwill and other intangibles Basis in investment Partnership investments Property, plant and equipment Other Net non-current deferred taxes $ $ The Tax Cuts and Jobs Act of 2017 (the “Tax Act”), was signed into law on December 22, 2017, making significant changes to the U.S. tax law. The new tax legislation contains several key tax provisions including, but not limited to, a reduction of the corporate income tax rate from 35% to 21% effective for tax years beginning after December 31, 2017, as well as other changes including acceleration of expensing of certain business assets acquired and placed in service after September 27, 2017, limitation of the tax deductibility of interest expense, and reductions in the amount of executive pay that could qualify as a tax deduction. The Company recorded a provisional non-cash tax benefit estimate of $112.9 million (corresponding federal and state impact is $(123.0) million and $10.1 million, respectively) as a reduction in income tax expense in the fourth quarter of 2017, the period in which the legislation was enacted. This provisional income tax benefit reflected the impact of re-measurement of the Company’s deferred tax assets and liabilities to the enacted tax rate at which the balances are expected to reverse. In addition, the Company recorded valuation allowances of $0.9 million against state NOL and state tax credit carryforwards that we no longer expect to be able to realize based upon the Tax Act and new information evaluated in the fourth quarter of 2017. ASC 740 requires us to recognize the effect of the tax law changes in the period of enactment. However, on December 22, 2017, Staff Accounting Bulletin No. 118 (“SAB 118”) was issued to address the application of US GAAP in situations when a registrant does not have the necessary information available, prepared, or analyzed (including computations) in reasonable detail to complete the accounting for certain income tax effects of the Tax Act. December 22, 2018 marked the end of the measurement period for purposes of SAB 118. As such, we have completed our analysis based on legislative updates relating to the Tax Act currently available which resulted in an additional SAB 118 tax benefit of $0.8 million in the fourth quarter of 2018 and a total tax benefit of $5.2 million for the year ended December 31, 2018. The total tax provision benefit related to adjustments to the re-measurement of certain deferred tax assets and liabilities. Deferred income taxes are provided for the temporary differences between assets and liabilities recognized for financial reporting purposes and assets and liabilities recognized for tax purposes. The ultimate realization of deferred tax assets depends upon taxable income during the future periods in which those temporary differences become deductible. To determine whether deferred tax assets can be realized, management assesses whether it is more likely than not that some portion or all of the deferred tax assets will not be realized, taking into consideration the scheduled reversal of deferred tax liabilities, projected future taxable income and tax-planning strategies. Based upon historical taxable income, taxable temporary differences, available and prudent tax planning strategies and projections for future pre-tax book income over the periods that the deferred tax assets are deductible, management believes it is more likely than not that the Company will realize the benefits of these temporary differences. However, management may reduce the amount of deferred tax assets it considers realizable in the near term if estimates of future taxable income during the carryforward period are reduced. Estimates of future taxable income are based on the estimated recognition of taxable temporary differences, available and prudent tax planning strategies and projections of future pre-tax book income. The amount of estimated future taxable income is expected to allow for the full utilization of the NOL carryforward, partial utilization of the state NOL carryforwards and partial utilization of the state credit carryforwards, as described below. Consolidated and its wholly owned subsidiaries, which file a consolidated federal income tax return, estimates it has available federal NOL carryforwards as of December 31, 2018 of $287.0 million and related deferred tax assets of $60.3 million. The Tax Act permits NOL’s for tax years beginning after December 31, 2017 to be carried forward indefinitely. The federal NOL carryforwards for the prior tax years expire in 2026 to 2036. ETFL, a nonconsolidated subsidiary for federal income tax return purposes, estimates it has available NOL carryforwards as of December 31, 2018 of $1.2 million and related deferred tax assets of $0.3 million. The Tax Act permits NOL’s for tax years beginning after December 31, 2017 to be carried forward indefinitely. ETFL’s federal NOL carryforwards for the prior tax years expire in 2021 to 2024. We estimate that we have available state NOL carryforwards as of December 31, 2018 of $727.3 million and related deferred tax assets of $20.8 million. The state NOL carryforwards expire from 2019 to 2037. Management believes that it is more likely than not that we will not be able to realize state NOL carryforwards of $107.9 million and related deferred tax asset of $7.5 million and has placed a valuation allowance on this amount. The related NOL carryforwards expire from 2019 to 2037. If or when recognized, the tax benefits related to any reversal of the valuation allowance will be accounted for as a reduction of income tax expense. We estimate that we have available federal alternative minimum tax (“AMT”) credit carryforwards as of December 31, 2018 of $3.0 million. The enacted Tax Act repeals the AMT regime for tax years beginning after December 31, 2017. The remaining AMT credit carryforward will be fully refundable to the Company in future tax years based on the provisions of the Tax Act. We estimate that we have available state tax credit carryforwards as of December 31, 2018 of $8.1 million and related deferred tax assets of $6.4 million. The state tax credit carryforwards are limited annually and expire from 2019 to 2028. Management believes that it is more likely than not that we will not be able to realize state tax carryforwards of $2.1 million and related deferred tax asset of $1.7 million and has placed a valuation allowance on this amount. The related state tax credit carryforwards expire from 2019 to 2023. If or when recognized, the tax benefits related to any reversal of the valuation allowance will be accounted for as a reduction of income tax expense. Unrecognized Tax Benefits Under the accounting guidance applicable to uncertainty in income taxes, we have analyzed filing positions in all of the federal and state jurisdictions where we are required to file income tax returns as well as all open tax years in these jurisdictions. This accounting guidance clarifies the accounting for uncertainty in income taxes recognized in a company’s financial statements; prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return; and provides guidance on description, classification, interest and penalties, accounting in interim periods, disclosure and transition. Our unrecognized tax benefits as of December 31, 2018 and 2017 were $4.9 million and $4.3 million, respectively. The net increase of $0.6 million to unrecognized tax benefits in 2018 was primarily due to the acquisition of FairPoint of which $0.3 million was recorded in purchase accounting. There were no material effects on the Company’s effective tax rate. The net amount of unrecognized benefits that, if recognized, would result in an impact to the effective rate is $4.7 million in 2018 compared to $4.1 million in 2017. Our practice is to recognize interest and penalties related to income tax matters in interest expense and general and administrative expense, respectively. During 2018 and 2017, we did not have a material liability for interest or penalties and had no material interest or penalty expense. The periods subject to examination for our federal return are years 2015 through 2017. The periods subject to examination for our state returns are years 2014 through 2017. In addition, prior tax years may be subject to examination by federal or state taxing authorities if the Company's NOL carryovers from those prior years are utilized in the future. We are currently under examination by a state taxing authority. We do not expect any settlement or payment that may result from the examination to have a material effect on our results or cash flows. We do not expect that the total unrecognized tax benefits and related accrued interest will significantly change due to the settlement of audits or the expiration of statute of limitations in the next twelve months. The net increase of $0.6 million to unrecognized tax benefits in 2018 was primarily due to the acquisition of FairPoint. There were no material effects on the Company’s effective tax rate. The following is a reconciliation of the unrecognized tax benefits for the years ended December 31, 2018 and 2017: Liability for Unrecognized Tax Benefits (In thousands) 2018 2017 Balance at January 1 $ 4,296 $ 64 Additions for tax positions related to FairPoint acquisition 637 4,296 Reduction for tax positions of prior years — (64) Balance at December 31 $ $

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Dec. 31, 2018
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES	11. COMMITMENTS AND CONTINGENCIES We have certain other obligations for various contractual agreements to secure future rights to goods and services to be used in the normal course of our operations. These include purchase commitments for planned capital expenditures, agreements securing dedicated access and transport services, and service and support agreements. As of December 31, 2018, future minimum contractual obligations, including capital and non-cancelable operating leases, and the estimated timing and effect the obligations will have on our liquidity and cash flows in future periods are as follows: Minimum Annual Contractual Obligations (in thousands) 2019 2020 2021 2022 2023 Thereafter Total Operating lease agreements $ $ $ $ $ $ $ Capital lease agreements 5,388 Capital expenditures (1) — — — — — Service and support agreements (2) Transport and data connectivity 7,789 5,494 5,887 Total $ $ $ $ $ $ $ (1) We have binding commitments with numerous suppliers for future capital expenditures. (2) We have entered into service and maintenance agreements to support various computer hardware and software applications and certain equipment. Leases Operating We have entered into various non-cancelable operating leases with terms greater than one year for certain facilities and equipment used in our operations. The facility leases generally require us to pay operating costs, including property taxes, insurance and maintenance, and certain of them contain scheduled rent increases and renewal options. Leasehold improvements are amortized over their estimated useful lives or lease period, whichever is shorter. We recognize rent expense on a straight-line basis over the term of each lease. Rent expense, including payments under operating leases, was $32.2 million, $23.7 million and $12.7 million for the years ended December 31, 2018, 2017, and 2016, respectively. Capital Leases We lease certain facilities and equipment under various capital leases which expire between 2019 and 2027. As of December 31, 2018, the present value of the minimum remaining lease commitments was approximately $30.4 million, of which $12.1 million was due and payable within the next twelve months. The leases require total remaining rental payments of $36.0 million as of December 31, 2018, of which $2.0 million will be paid to LATEL LLC, a related party entity. See Note 12 for information regarding the capital leases we have entered into with related parties. Litigation, Regulatory Proceedings and Other Contingencies Local Switching Support In 2015, FairPoint filed a petition (the “Petition”) with the FCC asking the FCC to direct National Exchange Carrier Association (“NECA”) to stop subtracting frozen Local Switching Support (“LSS”) from FairPoint’s ICC Eligible Recovery for FairPoint’s rate of return Incumbent Local Exchange Carriers (“ILECs”) that participate in the NECA pooling process. This issue is unique to rate of return affiliates of price cap carriers because such companies are considered price cap carriers for the FCC’s CAF funding, but remain rate of return for ICC purposes. Effective January 1, 2012, FairPoint rate of return ILECs were placed under the price cap CAF Phase I interim support mechanism, whereby the ILECs continued to receive frozen USF support for all forms of USF support received during 2011, including LSS. The rate of return rules for ICC included LSS support in that mechanism as well; therefore, NECA subtracted the frozen LSS support from the ICC Eligible Recovery amounts in accordance with FCC rules prohibiting duplicate recovery. When FairPoint accepted CAF Phase II support effective January 1, 2015, there was no longer any duplicate support and FairPoint requested NECA to stop subtracting LSS from FairPoint’s ICC Eligible Recovery. NECA declined to make that change, which led to FairPoint filing the Petition with the FCC asking the FCC to direct NECA to comply with FCC rules on ICC Eligible Recovery for rate of return ILECs. This issue also applies to Consolidated’s operations in Minnesota, which are also rate of return ILECs associated with a price cap company. The combined LSS support for the period from January 1, 2015 through December 31, 2017 is approximately $12.3 million. Our ongoing ICC Eligible Recovery support for 2018 increased by approximately $3.6 million, and thereafter, is expected to decline by 5% per year through 2021. On March 31, 2018, we obtained the required votes necessary for an approved order and on April 19, 2018, the FCC issued its order approving our Petition. As a result, during the year ended December 31, 2018, we recognized subsidies revenue of $7.2 million and a contingent asset of $8.7 million as a pre-acquisition gain contingency for the FairPoint LSS revenue prior to the acquisition date. Access Charges In 2014, Sprint Communications Company L.P. (“Sprint”) along with MCI Communications Services, Inc. and Verizon Select Services Inc. (collectively “Verizon”) filed lawsuits against certain entities of the Company including FairPoint, and many other Local Exchange Carriers (collectively, “LECs”) throughout the country challenging the switched access charges LECs assessed Sprint and Verizon, as interexchange carriers (“IXCs”), for certain calls originating from or terminating to mobile devices that are routed to or from these LECs through these IXCs. The plaintiffs’ position is based on their interpretation of federal law, among other things, and they are seeking refunds of past access charges paid for such calls. The disputed amounts total $4.8 million and cover periods dating back as far as 2006. CenturyLink, Inc. and its LEC subsidiaries (collectively “CenturyLink”), requested that the U.S. Judicial Panel on Multidistrict Litigation (the “Panel”), which has the authority to transfer the pretrial proceedings to a single court for multiple civil cases involving common questions of fact, transfer and consolidate these cases in one court. The Panel granted CenturyLink’s request and ordered that these cases be transferred to and centralized in the U.S. District Court for the Northern District of Texas (the “U.S. District Court”). On November 17, 2015, the U.S. District Court dismissed these complaints based on its interpretation of federal law and held that LECs could assess switched access charges for the calls at issue (the “November 2015 Order”). The November 2015 Order also allowed the plaintiffs to amend their complaints to assert claims that arise under state laws independent of the dismissed claims asserted under federal law. While Verizon did not make such a filing, on May 16, 2016, Sprint filed amended complaints and on June 30, 2016, the LEC defendants named in such complaints filed, among other things, a Joint Motion to Dismiss them, which the U.S. District Court granted on May 3, 2017. Certain FairPoint entities filed counterclaims against Sprint and Verizon. Relatedly, in 2016, numerous LECs across the country, including a number of our Consolidated and FairPoint LEC entities, filed complaints in various U.S. district courts against Level 3 Communications, LLC and certain of its affiliates (collectively, “Level 3”) for its failure to pay access charges for certain calls that the November 2015 Order held could be assessed by LECs. The Company’s LEC entities, including FairPoint, sought from Level 3 a total amount of at least $2.3 million, excluding attorneys’ fees. These complaint cases were transferred to and included in the above-referenced consolidated proceeding before the U.S. District Court. Level 3 filed a Motion to Dismiss these complaints that, in part, repeated arguments, which the November 2015 Order rejected. On March 22, 2017, the U.S. District Court denied Level 3’s Motion to Dismiss. On March 12, 2018, a motion for summary judgment was filed by various LECs with counterclaims against Verizon and Sprint. On March 26, 2018, a motion for summary judgment was filed by various LECs with claims against Level 3. On May 15, 2018, the U.S. District Court granted all pending motions for summary judgment against Sprint, Verizon, and Level 3, and directed the entry of formal judgments in these cases. On July 17, 2018, the U.S. District Court entered a judgment of $0.7 million in favor of our Consolidated LEC entities and against Level 3. Level 3 filed a notice of appeal of this judgment with the U.S. Court of Appeals for the Fifth Circuit (the “Fifth Circuit”) on July 24, 2018. On August 15, 2018, the U.S. District Court entered a judgment of over $1.2 million in favor of our FairPoint LEC entities and against Level 3. Level 3 filed a notice of appeal of this judgment with the Fifth Circuit on August 20, 2018. On September 21, 2018, our Consolidated and FairPoint LECs entered into a settlement agreement with Level 3 to resolve the dispute with respect to all past-due amounts at issue in the litigation. The settlement did not result in a material impact to our financial statements. As part of the settlement, the parties filed on October 18, 2018 joint stipulations to dismiss with prejudice the related Consolidated and FairPoint LECs’ complaints against Level 3 with the U.S. District Court and a joint motion to voluntarily dismiss the Level 3 appeal against our Consolidated and FairPoint LECs with the Fifth Circuit. The Fifth Circuit granted this motion on October 25, 2018 by dismissing the Level 3 appeal. Formal judgments were entered in the Verizon and Sprint cases on June 7, 2018. Verizon and Sprint filed notices of appeal of these judgments with the Fifth Circuit on June 28 and June 29, 2018, respectively. Those appeals remain pending. Absent a decision by an appellate court that overturns these orders, it could be difficult for Sprint or Verizon to succeed on its claims against us. Therefore, we do not expect any potential settlement or judgment to have a material adverse impact on our financial results or cash flows. Gross Receipts Tax Two of our subsidiaries, Consolidated Communications of Pennsylvania Company LLC (“CCPA”) and Consolidated Communications Enterprise Services Inc. (“CCES”), have, at various times, received Assessment Notices and/or Audit Assessment Notices from the Commonwealth of Pennsylvania Department of Revenue (“DOR”) increasing the amounts owed for Pennsylvania Gross Receipts Tax, and have had audits performed for the tax years of 2008 through 2016. For our CCES and CCPA subsidiaries, the total additional tax liability calculated by the DOR auditors for the tax years 2008 through 2016, including interest, is approximately $6.2 million and $7.5 million, respectively. We filed Petitions for Reassessment with the DOR’s Board of Appeals for the tax years 2008 through 2016, contesting these audit assessments. These cases remain pending and are in various stages of appeal. In May 2017, we entered into an agreement to guarantee any potential liability to the DOR up to $5.0 million. We believe that certain of the DOR’s findings regarding the Company’s additional tax liability for the tax years 2008 through 2016, for which we have filed appeals, continue to lack merit. However, in January 2018, CCES and CCPA submitted initial settlement offers to the Pennsylvania Office of Attorney General proposing to settle the intrastate and interstate cases at a reduced tax liability of the total assessed tax liability under dispute for the tax years 2008 through 2013. The settlement offers are currently under review and subject to negotiation with the Commonwealth of Pennsylvania. The Commonwealth Court of Pennsylvania has imposed a deadline in March 2019 for the parties to reach an agreement and file stipulations for judgment. While we continue to believe a settlement of all disputed claims is possible, we cannot anticipate at this time what the ultimate resolution of these cases will be, nor can we evaluate the likelihood of a favorable or unfavorable outcome or the potential losses (or gains) should such an outcome occur. Based on the initial settlement offers for the tax years 2008 through 2013 and the Company’s best estimate of the potential additional tax liabilities for 2014 through 2018, we have reserved $3.2 million and $1.4 million, including interest, for our CCES and CCPA subsidiaries, respectively. We do not believe that the outcome of these claims will have a material adverse impact on our financial results or cash flows. From time to time, we may be involved in litigation that we believe is of the type common to companies in our industry, including regulatory issues. While the outcome of these claims cannot be predicted with certainty, we do not believe that the outcome of any of these legal matters will have a material adverse impact on our business, results of operations, financial condition or cash flows.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	12 Months Ended
	Dec. 31, 2018
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS	12. RELATED PARTY TRANSACTIONS Capital Leases Richard A. Lumpkin, a member of our Board of Directors, together with his family, beneficially owned 37.0% of Agracel, Inc. (“Agracel”), a real estate investment company, at December 31, 2018 and 2017. Mr. Lumpkin also is a director of Agracel. Agracel is the sole managing member and 50% owner of LATEL LLC (“LATEL”). Mr. Lumpkin and his immediate family had a 68.5% beneficial ownership of LATEL at December 31, 2018 and 2017. As of December 31, 2018, we had three capital lease agreements with LATEL for the occupancy of three buildings on a triple net lease basis. In accordance with the Company’s related person transactions policy, these leases were approved by our Audit Committee and Board of Directors (“BOD”). We have accounted for these leases as capital leases in accordance with ASC Topic 840, Leases , and have capitalized the lower of the present value of the future minimum lease payments or their fair value. The capital lease agreements require us to pay substantially all expenses associated with general maintenance and repair, utilities, insurance and taxes. Each of the three lease agreements have a maturity date of May 31, 2021 and each have two five-year options to extend the terms of the lease after the initial expiration date. We are required to pay LATEL approximately $7.9 million over the terms of the lease agreements. The carrying value of the capital leases at December 31, 2018 and 2017 was approximately $1.7 million and $2.2 million, respectively. We recognized $0.3 million in interest expense in each of 2018 and 2017 and $0.4 million in interest expense in 2016 and amortization expense of $0.4 million in 2018, 2017 and 2016 related to the capitalized leases. Long-Term Debt In September 2014, $5.0 million of the Senior Notes were sold to a trust, the beneficiary of which is a member of the Company’s Board of Directors and we recognized approximately $0.3 million in each of 2018, 2017 and 2016 in interest expense for the Senior Notes purchased by the related party. Other Services Mr. Lumpkin also has a minority ownership interest in First Mid-Illinois Bancshares, Inc. (“First Mid-Illinois”). We provide telecommunication products and services to First Mid-Illinois and we received approximately $0.9 million in 2018 and $0.7 million in each of 2017 and 2016 for these services.

QUARTERLY FINANCIAL INFORMATION

QUARTERLY FINANCIAL INFORMATION (UNAUDITED)	12 Months Ended
	Dec. 31, 2018
QUARTERLY FINANCIAL INFORMATION (UNAUDITED)
QUARTERLY FINANCIAL INFORMATION (UNAUDITED)	13. QUARTERLY FINANCIAL INFORMATION (UNAUDITED) Quarter Ended 2018 March 31, June 30, September 30, December 31, (In thousands, except per share amounts) Net revenues $ 356,039 $ 350,221 $ 348,064 $ 344,750 Operating income $ 9,239 $ 5,427 $ 748 $ 3,555 Net loss attributable to common stockholders $ (11,298) $ (10,643) $ (14,914) $ (13,979) Basic and diluted loss per share $ (0.16) $ (0.15) $ (0.21) $ (0.20) Quarter Ended 2017 March 31, June 30, September 30, December 31, (In thousands, except per share amounts) Net revenues $ 169,935 $ 169,950 $ 363,329 $ 356,360 Operating income (loss) $ 19,079 $ 20,552 $ (7,691) $ 6,972 Net income (loss) attributable to common stockholders $ (3,685) $ (2,728) $ (28,448) $ 99,806 Basic and diluted earnings (loss) per share $ (0.07) $ (0.06) $ (0.41) $ 1.41 For the quarters ended March 31, 2018, June 30, 2018 and September 30, 2018, operating income differs from amounts reported during 2018 in our Quarterly Reports on Form 10-Q as a result of the reclassification from other income and expense of certain proceeds and insurance recoveries for damages incurred. The reclassification resulted in an increase to operating income of $0.4 million, $0.3 million and $0.4 million for the quarters ended March 31, 2018, June 30, 2018 and September 30, 2018, respectively. As part of our continued integration efforts of FairPoint and cost saving initiatives, we incurred severance costs of $4.0 million and $5.7 million during the quarters ended September 30, 2018 and December 31, 2018, respectively. During the quarter ended March 31, 2018, we recognized subsidies revenue of $4.9 million related to a settlement for frozen LSS, as described in Note 11. On December 22, 2017, the Tax Act was enacted as discussed in Note 10 and, as a result, we recorded a non-cash tax benefit of $112.9 million as a reduction in income tax expense in the fourth quarter of 2017. During the third quarter of 2017, we acquired all the issued and outstanding shares of FairPoint in exchange for shares of our common stock. FairPoint’s results of operations have been included in our consolidated financial statements as of the acquisition date of July 3, 2017. As result of the FairPoint acquisition, we incurred transaction costs of $1.5 million, $1.7 million, $27.0 million and $2.8 million during the quarters ended March 31, 2017, June 30, 2017, September 30, 2017 and December 31, 2017, respectively. In December 2016, in connection with the acquisition of FairPoint, we secured committed debt financing through a $935.0 million incremental term loan facility, as described in Note 6. In connection with entering into the committed financing, we incurred ticking fees and the amortization of commitment fees of $11.4 million, $13.3 million and $6.2 million during the quarters ended March 31, 2017, June 30, 2017 and September 30, 2017, respectively.

CONDENSED CONSOLIDATING FINANCI

CONDENSED CONSOLIDATING FINANCIAL INFORMATION	12 Months Ended
	Dec. 31, 2018
CONDENSED CONSOLIDATING FINANCIAL INFORMATION
CONDENSED CONSOLIDATING FINANCIAL INFORMATION	14. CONDENSED CONSOLIDATING FINANCIAL INFORMATION Consolidated Communications, Inc. is the primary obligor under the unsecured Senior Notes. We and substantially all of our subsidiaries, including our FairPoint subsidiaries, have jointly and severally guaranteed the Senior Notes. All of the subsidiary guarantors are 100% direct or indirect wholly owned subsidiaries of the parent, and all guarantees are full, unconditional and joint and several with respect to principal, interest and liquidated damages, if any. As such, we present condensed consolidating balance sheets as of December 31, 2018 and 2017, and condensed consolidating statements of operations and cash flows for the years ended December 31, 2018, 2017 and 2016 for each of Consolidated Communications Holdings, Inc. (Parent), Consolidated Communications, Inc. (Subsidiary Issuer), guarantor subsidiaries and other non-guarantor subsidiaries with any consolidating adjustments. See Note 6 for more information regarding our Senior Notes. Condensed Consolidating Balance Sheets (amounts in thousands) December 31, 2018 Parent Subsidiary Issuer Guarantors Non-Guarantors Eliminations Consolidated ASSETS Current assets: Cash and cash equivalents $ — $ 9,616 $ — $ 1 $ (18) $ 9,599 Accounts receivable, net — — 122,743 10,430 (37) 133,136 Income taxes receivable 10,272 — 790 10 — 11,072 Prepaid expenses and other current assets — 2,465 41,547 324 — 44,336 Total current assets 10,272 12,081 165,080 10,765 (55) 198,143 Property, plant and equipment, net — — 1,861,009 66,117 — 1,927,126 Intangibles and other assets: Investments — 8,673 102,180 — — 110,853 Investments in subsidiaries 3,587,612 3,505,477 15,949 — (7,109,038) — Goodwill — — 969,093 66,181 — 1,035,274 Customer relationships, net — — 228,959 — — 228,959 Other intangible assets — — 2,396 9,087 — 11,483 Advances due to/from affiliates, net — 2,379,079 760,310 97,898 (3,237,287) — Deferred income taxes 76,758 — — — (76,758) — Other assets — 1,524 18,237 651 3,011 23,423 Total assets $ 3,674,642 $ 5,906,834 $ 4,123,213 $ 250,699 $ (10,420,127) $ 3,535,261 LIABILITIES AND SHAREHOLDERS’ EQUITY Current liabilities: Accounts payable $ — $ — $ 32,502 $ — $ — $ 32,502 Advance billings and customer deposits — — 46,316 1,408 — 47,724 Dividends payable 27,579 — — — — 27,579 Accrued compensation — — 63,688 771 — 64,459 Accrued interest — 8,430 802 — — 9,232 Accrued expense 40 37 70,365 1,263 (55) 71,650 Current portion of long term debt and capital lease obligations — 18,350 11,968 150 — 30,468 Total current liabilities 27,619 26,817 225,641 3,592 (55) 283,614 Long-term debt and capital lease obligations — 2,285,341 17,988 256 — 2,303,585 Advances due to/from affiliates, net 3,237,287 — — — (3,237,287) — Deferred income taxes — 122 239,880 21,874 (73,747) 188,129 Pension and postretirement benefit obligations — — 295,815 18,319 — 314,134 Other long-term liabilities — 6,942 22,305 898 — 30,145 Total liabilities 3,264,906 2,319,222 801,629 44,939 (3,311,089) 3,119,607 Shareholders’ equity: Common Stock 712 — 17,411 30,000 (47,411) 712 Other shareholders’ equity 409,024 3,587,612 3,298,255 175,760 (7,061,627) 409,024 Total Consolidated Communications Holdings, Inc. shareholders’ equity 409,736 3,587,612 3,315,666 205,760 (7,109,038) 409,736 Noncontrolling interest — — 5,918 — — 5,918 Total shareholders’ equity 409,736 3,587,612 3,321,584 205,760 (7,109,038) 415,654 Total liabilities and shareholders’ equity $ 3,674,642 $ 5,906,834 $ 4,123,213 $ 250,699 $ (10,420,127) $ 3,535,261 December 31, 2017 Parent Subsidiary Issuer Guarantors Non-Guarantors Eliminations Consolidated ASSETS Current assets: Cash and cash equivalents $ — $ 8,919 $ 6,738 $ — $ — $ 15,657 Accounts receivable, net — — 114,303 7,701 (476) 121,528 Income taxes receivable 20,275 — 1,571 — — 21,846 Prepaid expenses and other current assets — — 33,188 130 — 33,318 Assets held for sale — — — 21,310 — 21,310 Total current assets 20,275 8,919 155,800 29,141 (476) 213,659 Property, plant and equipment, net — — 1,972,190 65,416 — 2,037,606 Intangibles and other assets: Investments — 8,495 100,363 — — 108,858 Investments in subsidiaries 3,643,930 2,133,049 35,374 — (5,812,353) — Goodwill — — 971,851 66,181 — 1,038,032 Customer relationships, net — — 293,300 — — 293,300 Other intangible assets — — 4,396 9,087 — 13,483 Advances due to/from affiliates, net — 2,441,690 555,332 92,615 (3,089,637) — Deferred income taxes 21,244 — — — (21,244) — Other assets — 1,307 12,844 37 — 14,188 Total assets $ 3,685,449 $ 4,593,460 $ 4,101,450 $ 262,477 $ (8,923,710) $ 3,719,126 LIABILITIES AND SHAREHOLDERS’ EQUITY Current liabilities: Accounts payable $ — $ — $ 24,143 $ — $ — $ 24,143 Advance billings and customer deposits — — 41,026 1,500 — 42,526 Dividends payable 27,418 — — — — 27,418 Accrued compensation — — 48,795 975 — 49,770 Accrued interest — 8,824 519 — — 9,343 Accrued expense 107 504 70,976 930 (476) 72,041 Current portion of long term debt and capital lease obligations — 18,350 11,150 196 — 29,696 Liabilities held for sale — — — 1,003 — 1,003 Total current liabilities 27,525 27,678 196,609 4,604 (476) 255,940 Long-term debt and capital lease obligations — 2,298,970 12,139 405 — 2,311,514 Advances due to/from affiliates, net 3,089,637 — — — (3,089,637) — Deferred income taxes — 750 209,116 21,098 (21,244) 209,720 Pension and postretirement benefit obligations — — 315,129 19,064 — 334,193 Other long-term liabilities — 1,761 31,030 1,026 — 33,817 Total liabilities 3,117,162 2,329,159 764,023 46,197 (3,111,357) 3,145,184 Shareholders’ equity: Common Stock 708 — 17,411 30,000 (47,411) 708 Other shareholders’ equity 567,579 2,264,301 3,314,361 186,280 (5,764,942) 567,579 Total Consolidated Communications Holdings, Inc. shareholders’ equity 568,287 2,264,301 3,331,772 216,280 (5,812,353) 568,287 Noncontrolling interest — — 5,655 — — 5,655 Total shareholders’ equity 568,287 2,264,301 3,337,427 216,280 (5,812,353) 573,942 Total liabilities and shareholders’ equity $ 3,685,449 $ 4,593,460 $ 4,101,450 $ 262,477 $ (8,923,710) $ 3,719,126 Condensed Consolidating Statements of Operations (amounts in thousands) Year Ended December 31, 2018 Parent Subsidiary Issuer Guarantors Non-Guarantors Eliminations Consolidated Net revenues $ — $ — $ 1,356,074 $ 55,541 $ (12,541) $ 1,399,074 Operating expenses: Cost of services and products (exclusive of depreciation and amortization) — — 607,582 16,386 (12,096) 611,872 Selling, general and administrative expenses 4,087 — 317,289 12,674 (445) 333,605 Acquisition and other transaction costs 1,960 — — — — 1,960 Depreciation and amortization — — 422,704 9,964 — 432,668 Operating income (loss) (6,047) — 8,499 16,517 — 18,969 Other income (expense): Interest expense, net of interest income (103) (136,378) 1,785 118 — (134,578) Intercompany interest income (expense) — 58,908 (58,844) (64) — — Investment income — 178 39,418 — — 39,596 Equity in earnings of subsidiaries, net (42,181) 8,858 5,133 — 28,190 — Other, net 7 — 1,067 241 — 1,315 Income (loss) before income taxes (48,324) (68,434) (2,942) 16,812 28,190 (74,698) Income tax expense (benefit) 2,510 (26,253) (5,784) 5,400 — (24,127) Net income (loss) (50,834) (42,181) 2,842 11,412 28,190 (50,571) Less: net income attributable to noncontrolling interest — — 263 — — 263 Net income (loss) attributable to Consolidated Communications Holdings, Inc. $ (50,834) $ (42,181) $ 2,579 $ 11,412 $ 28,190 $ (50,834) Total comprehensive income (loss) attributable to common shareholders $ $ $ $ 10,486 $ 40,369 $ Year Ended December 31, 2017 Parent Subsidiary Issuer Guarantors Non-Guarantors Eliminations Consolidated Net revenues $ — $ — $ 1,013,505 $ 58,776 $ (12,707) $ 1,059,574 Operating expenses: Cost of services and products (exclusive of depreciation and amortization) — — 447,029 11,245 (12,276) 445,998 Selling, general and administrative expenses 1,924 30 234,198 13,420 (431) 249,141 Acquisition and other transaction costs 33,650 — — — — 33,650 Depreciation and amortization — — 280,843 11,030 — 291,873 Operating income (loss) (35,574) (30) 51,435 23,081 — 38,912 Other income (expense): Interest expense, net of interest income (12) (128,737) (1,183) 146 — (129,786) Intercompany interest income (expense) — 58,909 (58,827) (82) — — Investment income — 157 31,592 — — 31,749 Equity in earnings of subsidiaries, net 101,863 109,015 1,918 — (212,796) — Other, net — 3 (694) 188 — (503) Income (loss) before income taxes 66,277 39,317 24,241 23,333 (212,796) (59,628) Income tax expense (benefit) 1,332 (27,610) (97,667) (982) — (124,927) Net income (loss) 64,945 66,927 121,908 24,315 (212,796) 65,299 Less: net income attributable to noncontrolling interest — — 354 — — 354 Net income (loss) attributable to Consolidated Communications Holdings, Inc. $ 64,945 $ 66,927 $ 121,554 $ 24,315 $ (212,796) $ 64,945 Total comprehensive income (loss) attributable to common shareholders $ $ $ $ $ $ Year Ended December 31, 2016 Parent Subsidiary Issuer Guarantors Non-Guarantors Eliminations Consolidated Net revenues $ — $ (15) $ 697,557 $ 58,785 $ (13,150) $ 743,177 Operating expenses: Cost of services and products (exclusive of depreciation and amortization) — — 321,936 12,197 (12,721) 321,412 Selling, general and administrative expenses 3,331 7 141,029 12,582 (429) 156,520 Acquisition and other transaction costs 1,214 — — — — 1,214 Loss on impairment — — 610 — — 610 Depreciation and amortization — — 164,577 9,433 — 174,010 Operating income (loss) (4,545) (22) 69,405 24,573 — 89,411 Other income (expense): Interest expense, net of interest income 46 (76,213) (694) 35 — (76,826) Intercompany interest income (expense) (63,773) 97,102 (34,846) 1,517 — — Loss on extinguishment of debt — (6,559) — — — (6,559) Investment income — 166 32,806 — — 32,972 Equity in earnings of subsidiaries, net 58,208 56,600 711 — (115,519) — Other, net — (328) (202) (310) — (840) Income (loss) before income taxes (10,064) 70,746 67,180 25,815 (115,519) 38,158 Income tax expense (benefit) (24,995) 12,538 25,807 9,612 — 22,962 Net income (loss) 14,931 58,208 41,373 16,203 (115,519) 15,196 Less: net income attributable to noncontrolling interest — — 265 — — 265 Net income (loss) attributable to Consolidated Communications Holdings, Inc. $ 14,931 $ 58,208 $ 41,108 $ 16,203 $ (115,519) $ 14,931 Total comprehensive income (loss) attributable to common shareholders $ $ $ $ $ $ Condensed Consolidating Statements of Cash Flows (amounts in thousands) Year Ended December 31, 2018 Parent Subsidiary Issuer Guarantors Non-Guarantors Consolidated Net cash provided by (used in) operating activities $ 2,323 $ (43,781) $ 388,930 $ 9,849 $ 357,321 Cash flows from investing activities: Purchases of property, plant and equipment — — (235,147) (9,669) (244,816) Proceeds from sale of assets — — 1,688 437 2,125 Proceeds from business dispositions 20,999 — — — 20,999 Proceeds from sale of investments — — 233 — 233 Net cash provided by (used in) investing activities 20,999 — (233,226) (9,232) (221,459) Cash flows from financing activities: Proceeds from issuance of long-term debt — 189,588 — — 189,588 Payment of capital lease obligation — — (12,559) (196) (12,755) Payment on long-term debt — (207,938) — — (207,938) Share repurchases for minimum tax withholding (593) — — — (593) Dividends on common stock (110,222) — — — (110,222) Transactions with affiliates, net 87,493 62,828 (149,901) (420) — Net cash provided by (used in) financing activities (23,322) 44,478 (162,460) (616) (141,920) Increase (decrease) in cash and cash equivalents — 697 (6,756) 1 (6,058) Cash and cash equivalents at beginning of period — 8,919 6,738 — 15,657 Cash and cash equivalents at end of period $ — $ 9,616 $ (18) $ 1 $ 9,599 Year Ended December 31, 2017 Parent Subsidiary Issuer Guarantors Non-Guarantors Consolidated Net cash (used in) provided by operating activities $ (23,237) $ (25,625) $ 235,810 $ 23,079 $ 210,027 Cash flows from investing activities: Business acquisition, net of cash acquired (862,385) — — — (862,385) Purchases of property, plant and equipment — — (167,187) (13,998) (181,185) Proceeds from sale of assets — — 829 30 859 Net cash used in investing activities (862,385) — (166,358) (13,968) (1,042,711) Cash flows from financing activities: Proceeds from issuance of long-term debt — 1,052,325 — — 1,052,325 Payment of capital lease obligation — — (7,746) (187) (7,933) Payment on long-term debt — (111,337) — — (111,337) Payment of financing costs — (16,732) — — (16,732) Share repurchases for minimum tax withholding (571) — — — (571) Dividends on common stock (94,138) — — — (94,138) Transactions with affiliates, net 980,681 (916,776) (54,981) (8,924) — Other (350) — — — (350) Net cash provided by (used in) financing activities 885,622 7,480 (62,727) (9,111) 821,264 Increase (decrease) in cash and cash equivalents — (18,145) 6,725 — (11,420) Cash and cash equivalents at beginning of period — 27,064 13 — 27,077 Cash and cash equivalents at end of period $ — $ 8,919 $ 6,738 $ — $ 15,657 Year Ended December 31, 2016 Subsidiary Parent Issuer Guarantors Non-Guarantors Consolidated Net cash (used in) provided by operating activities $ (23,634) $ 13,315 $ 200,098 $ 28,454 $ 218,233 Cash flows from investing activities: Business acquisition, net of cash acquired (13,422) — — — (13,422) Purchases of property, plant and equipment — — (111,389) (13,803) (125,192) Proceeds from sale of assets — — 198 10 208 Proceeds from business disposition 30,119 — — — 30,119 Net cash provided by (used in) investing activities 16,697 — (111,191) (13,793) (108,287) Cash flows from financing activities: Proceeds from issuance of long-term debt — 936,750 — — 936,750 Payment of capital lease obligation — — (2,743) (142) (2,885) Payment on long-term debt — (943,050) — — (943,050) Payment of financing costs — (9,912) — — (9,912) Share repurchases for minimum tax withholding (1,231) — — — (1,231) Dividends on common stock (78,419) — — — (78,419) Transactions with affiliates, net 86,587 24,084 (93,780) (16,891) — Net cash provided by (used in) financing activities 6,937 7,872 (96,523) (17,033) (98,747) Increase in cash and cash equivalents — 21,187 (7,616) (2,372) 11,199 Cash and cash equivalents at beginning of period — 5,877 7,629 2,372 15,878 Cash and cash equivalents at end of period $ — $ 27,064 $ 13 $ — $ 27,077

BUSINESS DESCRIPTION AND SUMM_2

BUSINESS DESCRIPTION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2018
BUSINESS DESCRIPTION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Business and Basis of Accounting	Business and Basis of Accounting Consolidated Communications Holdings, Inc. (the “Company,” “we,” “our” or “us”) is a holding company with operating subsidiaries (collectively “Consolidated”) that provide communication solutions to consumer, commercial and carrier customers across a 23-state service area. Leveraging our advanced fiber network spanning more than 37,000 fiber route miles, we offer residential high-speed Internet, video, phone and home security services as well as multi-service residential and small business bundles. Our business product suite includes data and Internet solutions, voice, data center services, security services, managed and IT services, and an expanded suite of cloud services. As of December 31, 2018, we had approximately 902 thousand voice connections, 779 thousand data connections and 93 thousand video connections.
Use of Estimates	Use of Estimates Preparation of the financial statements in conformity with accounting principles generally accepted in the United States and pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”) requires management to make estimates and assumptions that effect the reported amounts of assets and liabilities as of the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results may differ materially from those estimates. Our critical accounting estimates include (i) impairment evaluations associated with indefinite-lived intangible assets (Note 1), (ii) the determination of deferred tax asset and liability balances (Notes 1 and 10) and (iii) pension plan and other post-retirement costs and obligations (Notes 1 and 9).
Principles of Consolidation	Principles of Consolidation Our consolidated financial statements include the accounts of the Company and our wholly-owned subsidiaries and subsidiaries in which we have a controlling financial interest. All significant intercompany transactions have been eliminated.
Recent Business Developments	Recent Business Developments On July 3, 2017, we completed our acquisition of FairPoint Communications, Inc. (“FairPoint”), pursuant to the terms of a definitive agreement and plan of merger (as amended, the “Merger Agreement”) and acquired all of the issued and outstanding shares of FairPoint in exchange for shares of our common stock (the “Merger”). As a result of the Merger, FairPoint became a wholly owned subsidiary of the Company. The financial results for FairPoint have been included in our consolidated financial statements as of the acquisition date. For a more complete discussion of the transaction, refer to Note 3.
Cash and Cash Equivalents	Cash and Cash Equivalents We consider all highly liquid investments with an original maturity of three months or less to be cash equivalents. Our cash equivalents consist primarily of money market funds. The carrying amounts of our cash equivalents approximate their fair values.
Accounts Receivable and Allowance for Doubtful Accounts	Accounts Receivable and Allowance for Doubtful Accounts Accounts receivable consists primarily of amounts due to the Company from normal business activities. We maintain an allowance for doubtful accounts for estimated losses that result from the inability of our customers to make required payments. The allowance for doubtful accounts is maintained based on customer payment levels, historical experience and management’s views on trends in the overall receivable agings. In addition, for larger accounts, we perform analyses of risks on a customer-specific basis. We perform ongoing credit evaluations of our customers’ financial condition and management believes that an adequate allowance for doubtful accounts has been provided. Uncollectible accounts are removed from accounts receivable and are charged against the allowance for doubtful accounts when internal collection efforts have been unsuccessful. The following table summarizes the activity in allowance for doubtful accounts for the years ended December 31, 2018, 2017 and 2016: Year Ended December 31, (In thousands) 2018 2017 2016 Balance at beginning of year $ 6,667 $ 2,813 $ 3,235 Provision charged to expense 8,793 7,072 2,798 Write-offs, less recoveries Acquired allowance for doubtful accounts — 3,298 — Balance at end of year $ 4,421 $ 6,667 $ 2,813
Investments	Investments Our investments are primarily accounted for under either the equity method or at cost. If we have the ability to exercise significant influence over the operations and financial policies of an affiliated company, the investment in the affiliated company is accounted for using the equity method. If we do not have control and also cannot exercise significant influence, we account for these investments at our initial cost less impairment because fair value is not readily available for these investments. We review our investment portfolio periodically to determine whether there are identified events or circumstances that would indicate there is a decline in the fair value that is considered to be other than temporary. If we believe the decline is other than temporary, we evaluate the financial performance of the business and compare the carrying value of the investment to quoted market prices (if available) or the fair value of similar investments. If an investment is deemed to have experienced an impairment that is considered other-than temporary, the carrying amount of the investment is reduced to its quoted or estimated fair value, as applicable, and an impairment loss is recognized in other income (expense).
Fair Value of Financial Instruments	Fair Value of Financial Instruments We account for certain assets and liabilities at fair value. Fair value is an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or a liability. A financial asset or liability’s classification within a three-tiered value hierarchy is determined based on the lowest level input that is significant to the fair value measurement. The hierarchy prioritizes the inputs to valuation techniques into three broad levels in order to maximize the use of observable inputs and minimize the use of unobservable inputs. The levels of the fair value hierarchy are as follows: Level 1 – Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets. Level 2 – Inputs that reflect quoted prices in active markets for similar assets or liabilities, quoted prices for identical or similar assets or liabilities in inactive markets and inputs other than quoted prices that are directly or indirectly observable in the marketplace. Level 3 – Unobservable inputs which are supported by little or no market activity.
Property, Plant and Equipment	Property, Plant and Equipment Property, plant and equipment are recorded at cost. We capitalize additions and substantial improvements and expense repairs and maintenance costs as incurred. We capitalize the cost of internal-use network and non-network software which has a useful life in excess of one year. Subsequent additions, modifications or upgrades to internal-use network and non-network software are capitalized only to the extent that they allow the software to perform a task it previously did not perform. Software maintenance and training costs are expensed in the period in which they are incurred. Also, we capitalize interest associated with the development of internal-use network and non-network software. Property, plant and equipment consisted of the following as of December 31, 2018 and 2017: December 31, December 31, Estimated (In thousands) 2018 2017 Useful Lives Land and buildings $ $ - years Central office switching and transmission - years Outside plant cable, wire and fiber facilities - years Furniture, fixtures and equipment - years Assets under capital lease - years Total plant in service Less: accumulated depreciation and amortization Plant in service Construction in progress Construction inventory Totals $ $ Construction inventory, which is stated at weighted average cost, consists primarily of network construction materials and supplies that when issued are predominately capitalized as part of new customer installations and the construction of the network. We record depreciation using the straight-line method over estimated useful lives using either the group or unit method. The useful lives are estimated at the time the assets are acquired and are based on historical experience with similar assets, anticipated technological changes and the expected impact of our strategic operating plan on our network infrastructure. In addition, the ranges of estimated useful lives presented above are impacted by the accounting for business combinations as the lives assigned to these acquired assets are generally much shorter than that of a newly acquired asset. The group method is used for depreciable assets dedicated to providing regulated telecommunication services, including the majority of the network, outside plant facilities and certain support assets. A depreciation rate for each asset group is developed based on the average useful life of the group. The group method requires periodic revision of depreciation rates. When an individual asset is sold or retired, the difference between the proceeds, if any, and the cost of the asset is charged or credited to accumulated depreciation, without recognition of a gain or loss. The unit method is primarily used for buildings, furniture, fixtures and other support assets. Each asset is depreciated on the straight-line basis over its estimated useful life. When an individual asset is sold or retired, the cost basis of the asset and related accumulated depreciation are removed from the accounts and any associated gain or loss is recognized. Depreciation and amortization expense related to property, plant and equipment was $366.3 million, $263.8 million and $161.1 million in 2018, 2017 and 2016, respectively. Amortization of assets under capital leases is included in the depreciation and amortization expense in the consolidated statements of operations. We evaluate the recoverability of our property, plant and equipment whenever events or substantive changes in circumstances indicate that the carrying amount of an asset group may not be recoverable. Recoverability is measured by a comparison of the carrying amount of an asset group to estimated undiscounted future cash flows expected to be generated by the asset group. If the total of the expected future undiscounted cash flows were less than the carrying amount of the asset group, we would recognize an impairment charge for the difference between the estimated fair value and the carrying value of the asset group.
Intangible Assets	Intangible Assets Indefinite-Lived Intangibles Goodwill and tradenames are evaluated for impairment annually or more frequently when events or changes in circumstances indicate that the asset might be impaired. We evaluate the carrying value of goodwill and tradenames as of November 30 of each year. Goodwill Goodwill is the excess of the acquisition cost of a business over the fair value of the identifiable net assets acquired. Goodwill is not amortized but instead evaluated annually for impairment. The evaluation of goodwill may first include a qualitative assessment to determine whether it is more likely than not that the fair value of the reporting unit is less than its carrying amount. Events and circumstances integrated into the qualitative assessment process include a combination of macroeconomic conditions affecting equity and credit markets, significant changes to the cost structure, overall financial performance and other relevant events affecting the reporting unit. For the 2018 assessment, we evaluated the fair value of goodwill compared to the carrying value using the qualitative approach. The results of the qualitative approach concluded that it is more likely than not that the fair value of goodwill was greater than the carrying value as of November 30, 2018. When we use the quantitative approach to assess the goodwill carrying value and the fair value of our single reporting unit, the fair value of our reporting unit is compared to its carrying amount, including goodwill. The estimated fair value of the reporting unit is determined using a combination of market-based approaches and a discounted cash flow (“DCF”) model. The assumptions used in the estimate of fair value are based upon a combination of historical results and trends, new industry developments and future cash flow projections, as well as relevant comparable company earnings multiples for the market-based approaches. Such assumptions are subject to change as a result of changing economic and competitive conditions. We use a weighting of the results derived from the valuation approaches to estimate the fair value of the reporting unit. For the 2017 assessment, using the quantitative approach, we concluded that the fair value of the reporting unit exceeded the carrying value at November 30, 2017 and that there was no impairment of goodwill. In measuring the fair value of our single reporting unit as previously described, we consider the fair value of our reporting unit in relation to our overall enterprise value, measured as the publicly traded stock price multiplied by the fully diluted shares outstanding plus the fair value of outstanding debt. Our reporting unit fair value models are consistent with a range in value indicated by both the preceding three month average stock price and the stock price on the valuation date, plus an estimated acquisition premium which is based on observable transactions of comparable companies, if applicable. If the carrying value of the reporting unit exceeds its fair value, a goodwill impairment is recorded for the difference in the carrying value and fair value. We did not recognize any goodwill impairment in 2018, 2017 or 2016 as a result of the impairment tests. At December 31, 2018 and 2017, the carrying value of goodwill was $1,035.3 million and $1,038.0 million, respectively. Goodwill decreased $2.8 million as a result of changes during 2018 in the initial estimates of the net assets acquired in the acquisition of FairPoint, as described in Note 3. Trade Name Our trade name is the federally registered mark CONSOLIDATED, a design of interlocking circles, which is used in association with our communication services. The Company’s corporate branding strategy leverages a CONSOLIDATED naming structure. All of the Company’s business units and several of our products and services incorporate the CONSOLIDATED name. Trade names with indefinite useful lives are not amortized but are tested for impairment at least annually. If facts and circumstances change relating to a trade name’s continued use in the branding of our products and services, it may be treated as a finite-lived asset and begin to be amortized over its estimated remaining life. The carrying value of our trade names, excluding any finite lived trade names, was $10.6 million at December 31, 2018 and 2017. For the 2018 assessment, we used the qualitative approach to evaluate the fair value compared to the carrying value of the trade name. Based on the various qualitative indicators reviewed, we concluded that the fair value of the trade name continued to exceed the carrying value. In the 2017 assessment, when we used the quantitative approach to estimate the fair value of our trade name, we used an income-based valuation approach called the relief from royalty method. If the fair value of our trade name was less than the carrying amount, we would recognize an impairment charge for the difference between the estimated fair value and the carrying value of the assets. We perform our impairment testing of our trade name as a single unit of accounting based on their use in our single reporting unit. Finite-Lived Intangible Assets Finite-lived intangible assets subject to amortization consist primarily of our customer lists of an established base of customers that subscribe to our services, trade names of acquired companies and other intangible assets. Finite-lived intangible assets are amortized using an accelerated amortization method or on a straight-line basis over their estimated useful lives. We evaluate the potential impairment of finite-lived intangible assets when impairment indicators exist. If the carrying value is no longer recoverable based upon the undiscounted future cash flows of the asset, an impairment equal to the difference between the carrying amount and the fair value of the asset is recognized. We did not recognize any intangible impairment charges in the years ended December 31, 2018, 2017 or 2016. The components of finite-lived intangible assets are as follows: December 31, 2018 December 31, 2017 Gross Carrying Accumulated Gross Carrying Accumulated (In thousands) Useful Lives Amount Amortization Amount Amortization Customer relationships - years $ 516,561 $ (287,602) $ 516,561 $ (223,261) Trade names <1 - years 2,290 (2,290) 3,390 (3,390) Other intangible assets - years 5,600 (4,674) 7,380 (4,454) Total $ 524,451 $ (294,566) $ 527,331 $ (231,105) Amortization expense related to the finite-lived intangible assets for the years ended December 31, 2018, 2017 and 2016 was $66.3 million, $28.0 million and $12.9 million, respectively. Expected future amortization expense of finite-lived intangible assets is as follows: (In thousands) 2019 $ 66,132 2020 50,440 2021 39,374 2022 30,850 2023 23,963 Thereafter 19,126 Total $ 229,885
Derivative Financial Instruments	Derivative Financial Instruments We use derivative financial instruments to manage our exposure to the risks associated with fluctuations in interest rates. Our interest rate swap agreements effectively convert a portion of our floating-rate debt to a fixed-rate basis, thereby reducing the impact of interest rate changes on future cash interest payments. At the inception of a hedge transaction, we formally document the relationship between the hedging instruments including our objective and strategy for establishing the hedge. In addition, the effectiveness of the derivative instrument is assessed at inception and on an ongoing basis throughout the hedging period. Counterparties to derivative instruments expose us to credit-related losses in the event of nonperformance. We execute agreements only with financial institutions we believe to be creditworthy and regularly assess the credit worthiness of each of the counterparties. We do not use derivative instruments for trading or speculative purposes. Derivative financial instruments are recorded at fair value in our consolidated balance sheet. Fair value is determined based on projected interest rate yield curves and an estimate of our nonperformance risk or our counterparty’s nonperformance credit risk, as applicable. We do not anticipate any nonperformance by any counterparty. For derivative instruments designated as a cash flow hedge, the effective portion of the change in the fair value is recognized as a component of accumulated other comprehensive income (loss) (“AOCI”) and is recognized as an adjustment to earnings over the period in which the hedged item impacts earnings. When an interest rate swap agreement terminates, any resulting gain or loss is recognized over the shorter of the remaining original term of the hedging instrument or the remaining life of the underlying debt obligation. The ineffective portion of the change in fair value of any hedging derivative is recognized immediately in earnings. If a derivative instrument is de-designated, the remaining gain or loss in AOCI on the date of de-designation is amortized to earnings over the remaining term of the hedging instrument. For derivative financial instruments that are not designated as a hedge, including those that have been de-designated, changes in fair value are recognized on a current basis in earnings. Cash flows from hedging activities are classified under the same category as the cash flows from the hedged items in our consolidated statement of cash flows. See Note 7 for further discussion of our derivative financial instruments.
Share-based Compensation	Share-based Compensation We recognize share-based compensation expense for all restricted stock awards (“RSAs”) and performance share awards (“PSAs”) (collectively, “stock awards”) based on the estimated fair value of the stock awards on the date of grant. We recognize the expense associated with RSAs and PSAs on a straight-line basis over the requisite service period, which generally ranges from immediate vesting to a four-year vesting period, and account for forfeitures as they occur. See Note 8 for additional information regarding share-based compensation.
Pension Plan and Other Post-Retirement Benefits	Pension Plan and Other Post-Retirement Benefits We maintain noncontributory defined benefit pension plans and provide certain post-retirement health care and life insurance benefits to certain eligible employees. We also maintain two unfunded supplemental retirement plans to provide incremental pension payments to certain former employees. See Note 9 for a more detailed discussion regarding our pension and other post-retirement benefits. We recognize pension and post-retirement benefits expense during the current period in the consolidated statement of operations using certain assumptions, including the expected long-term rate of return on plan assets, interest cost implied by the discount rate, expected health care cost trend rate and the amortization of unrecognized gains and losses. We determine expected long-term rate of return on plan assets by considering historical investment performance, plan asset allocation strategies and return forecasts for each asset class and input from its advisors. Projected returns by such advisors were based on broad equity and fixed income indices. The expected long-term rate of return is reviewed annually in conjunction with other plan assumptions, if considered necessary, revised to reflect changes in the financial markets and the investment strategy. Our plan assets are valued at fair value as of the measurement date. Our discount rate assumption is determined annually to reflect the rate at which the benefits could be effectively settled and approximate the timing of expected future payments based on current market determined interest rates for similar obligations. We use bond matching model BOND:Link comprising of high quality corporate bonds to match cash flows to the expected benefit payments. We recognize the overfunded or underfunded status of our defined benefit pension and post-retirement plans as either an asset or liability in the consolidated balance sheet. Actuarial gains and losses that arise during the year are recognized as a component of comprehensive income (loss), net of applicable income taxes, and included in accumulated other comprehensive income (loss). These gains and losses are amortized over future years as a component of the net periodic benefit cost when the net gains and losses exceed 10% of the greater of the market-related value of the plan assets or the projected benefit obligation at the beginning of the year. The amount in excess of the corridor is amortized over the average remaining service period of participating employees expected to receive benefits under the plans.
Income Taxes	Income Taxes Our estimates of income taxes and the significant items resulting in the recognition of deferred tax assets and liabilities are disclosed in Note 10 and reflect our assessment of future tax consequences of transactions that have been reflected in our financial statements or tax returns for each taxing jurisdiction in which we operate. We base our provision for income taxes on our current period income, changes in our deferred income tax assets and liabilities, income tax rates, changes in estimates of our uncertain tax positions and tax planning opportunities available in the jurisdictions in which we operate. We recognize deferred tax assets and liabilities when there are temporary differences between the financial reporting basis and tax basis of our assets and liabilities and for the expected benefits of using net operating loss and tax credit loss carryforwards. We establish valuation allowances when necessary to reduce the carrying amount of deferred income tax assets to the amounts that we believe are more likely than not to be realized. We evaluate the need to retain all or a portion of the valuation allowance on our deferred tax assets. When a change in the tax rate or tax law has an impact on deferred taxes, we apply the change when the tax law change is enacted, based on the years in which the temporary differences are expected to reverse. As we operate in more than one state, changes in our state apportionment factors, based on operating results, may affect our future effective tax rates and the value of our deferred tax assets and liabilities. We record a change in tax rates in our consolidated financial statements in the period of enactment. Income tax consequences that arise in connection with a business combination include identifying the tax basis of assets and liabilities acquired and any contingencies associated with uncertain tax positions assumed or resulting from the business combination. Deferred tax assets and liabilities related to temporary differences of an acquired entity are recorded as of the date of the business combination and are based on our estimate of the appropriate tax basis that will be accepted by the various taxing authorities. We record unrecognized tax benefits as liabilities in accordance with Accounting Standard Codification (“ASC”) 740, Income Taxes, and adjust these liabilities in the appropriate period when our judgment changes as a result of the evaluation of new information. In certain instances, the ultimate resolution may result in a payment that is materially different from our current estimate of the unrecognized tax benefit liabilities. These differences will be reflected as increases or decreases to income tax expense in the period in which new information is available. We classify interest and penalties, if any, associated with our uncertain tax positions as a component of interest expense and general and administrative expense, respectively. See Note 10 for further discussion on income taxes.
Revenue Recognition	Revenue Recognition Effective January 1, 2018, we adopted Accounting Standards Update (“ASU”) No. 2014-09 (“ASU 2014-09”, “ASC 606”, or the “new standard”), Revenue from Contracts with Customers , using the modified retrospective method for open contracts. Results for reporting periods beginning after January 1, 2018 are presented under ASC 606, while prior period amounts are not adjusted and continue to be reported in accordance with our historic accounting practices under ASC 605 (“legacy GAAP”). The adoption of the new standard did not result in a material impact to our systems, processes or internal controls. The largest impact of the adoption of the new standard is related to the treatment of contract acquisition costs, which were previously expensed as incurred; however, under the new standard, these costs are now deferred and amortized over the expected customer life. The adoption also resulted in additional disclosures around the nature and timing of the Company’s performance obligations, deferred revenue contract liabilities and deferred contract cost assets, as well as practical expedients used by the Company in applying the new five-step revenue model. During the year ended December 31, 2018, we recorded a pre-tax cumulative effect adjustment of $4.1 million related to the adoption, which increased retained earnings. Of this amount, $1.8 million was related to the increase in the carrying value of our partnership interests as a result of the adoption of ASC 606 by our equity method partnerships. For a more complete discussion of our investments, refer to Note 4. Nature of Contracts with Customers Our revenue contracts with customers may include a promise or promises to deliver goods such as equipment and/or services such as broadband, video or voice services. Promised goods and services are considered distinct as the customer can benefit from the goods or services either on their own or together with other resources that are readily available to the customer and the Company’s promise to transfer a good or service to the customer is separately identifiable from other promises in the contract. The Company accounts for goods and services as separate performance obligations. Each service is considered a single performance obligation as it is providing a series of distinct services that are substantially the same and have the same pattern of transfer. The transaction price is determined at contract inception and reflects the amount of consideration to which we expect to be entitled in exchange for transferring a good or service to the customer. This amount is generally equal to the market price of the goods and/or services promised in the contract and may include promotional discounts. The transaction price excludes amounts collected on behalf of third parties such as sales taxes and regulatory fees. Conversely, nonrefundable up-front fees, such as service activation and set-up fees, are included in the transaction price. In determining the transaction price, we consider our enforceable rights and obligations within the contract. We do not consider the possibility of a contract being cancelled, renewed or modified. The transaction price is allocated to each performance obligation based on the standalone selling price of the good or service, net of the related discount, as applicable. Revenue is recognized when or as performance obligations are satisfied by transferring control of the good or service to the customer as described below. Disaggregation of Revenue The following table summarizes revenue from contracts with customers for the years ended December 31, 2018, 2017 and 2016: (In thousands) 2018 2017 2016 Operating Revenues Commercial and carrier: Data and transport services (includes VoIP) $ 349,413 $ 274,221 $ 202,294 Voice services 202,875 152,632 94,221 Other 56,395 33,908 12,454 608,683 460,761 308,969 Consumer: Broadband (VoIP and Data) 253,119 183,634 115,179 Video services 88,338 91,406 94,167 Voice services 202,032 137,696 55,834 543,489 412,736 265,180 Equipment sales and service — — 43,138 Subsidies 83,371 62,272 48,362 Network access 152,582 110,196 63,750 Other products and services 10,949 13,609 13,778 Total operating revenues $ 1,399,074 $ 1,059,574 $ 743,177 Services Services revenues, with the exception of usage-based revenues, are generally billed in advance and recognized in subsequent periods when or as services are transferred to the customer. We offer bundled service packages that consists of high-speed Internet, video and voice services including local and long distance calling, voicemail and calling features. Each service is considered distinct and therefore accounted for as a separate performance obligation. Service revenue is recognized over time, consistent with the transfer of service, as the customer simultaneously receives and consumes the benefits provided by the Company’s performance as the Company performs. Usage-based services, such as per-minute long-distance service and access charges billed to other telephone carriers for originating and terminating long-distance calls in our network, are billed in arrears. We recognize revenue from these services when or as services are transferred to the customer. Revenue related to nonrefundable upfront fees, such as service activation and set-up fees are deferred and amortized over the expected customer life as discussed below. Equipment Equipment revenue is generated from the sale of voice and data communications equipment as well as design, configuration, installation and professional support services related to such equipment. Equipment revenue generated from telecommunications systems and structured cabling projects is recognized when or as the project is completed. Maintenance services are provided on both a contract and time and material basis and are recognized when or as services are transferred. Subsidies and Surcharges Subsidies consist of both federal and state subsidies, which are designed to promote widely available, quality telephone service at affordable prices in rural areas. These revenues are calculated by the administering government agency based on information we provide. There is a reasonable possibility that out-of-period subsidy adjustments may be recorded in the future, but they are expected to be immaterial to our results of operations, financial position and cash flows. We recognize Federal Universal Service contributions on a gross basis. We account for all other taxes collected from customers and remitted to the respective government agencies on a net basis. Contract Assets and Liabilities The following table provides information about receivables, contract assets and contract liabilities from our revenue contracts with customers: Year Ended At (In thousands) December 31, 2018 Adoption Accounts receivable, net $ 133,136 $ 121,745 Contract assets 12,128 1,804 Contract liabilities 52,966 46,368 Contract assets include costs that are incremental to the acquisition of a contract. Incremental costs are those that result directly from obtaining a contract or costs that would not have been incurred if the contract had not been obtained, which primarily relate to sales commissions. These costs are deferred and amortized over the expected customer life. We determined that the expected customer life is the expected period of benefit as the commission on the renewal contract is not commensurate with the commission on the initial contract. During the year ended December 31, 2018, the Company recognized expense of $2.9 million related to deferred contract acquisition costs. Contract liabilities include deferred revenues related to advanced payments for services and nonrefundable, upfront service activation and set-up fees, which under the new standard are generally deferred and amortized over the expected customer life as the option to renew without paying an upfront fee provides the customer with a material right. During the year ended December 31, 2018, the Company deferred and recognized revenues of $360.4 million and $354.2 million, respectively. A receivable is recognized in the period the Company provides goods or services when the Company’s right to consideration is unconditional. Payment terms on invoiced amounts are generally 30 to 60 days. Performance Obligations ASC 606 requires that the Company disclose the aggregate amount of the transaction price that is allocated to remaining performance obligations that are unsatisfied as of December 31, 2018. The guidance provides certain practical expedients that limit this requirement. The service revenue contracts of the Company meet the following practical expedients provided by ASC 606: 1. The performance obligation is part of a contract that has an original expected duration of one year or less. 2. Revenue is recognized from the satisfaction of the performance obligations in the amount billable to the customer in accordance with ASC 606-10-55-18. Financial Statement Impact of Adopting ASC 606 As described above, the change in accounting for contract acquisition costs was the largest impact to the Company upon adoption of ASC 606. On an ongoing basis, a significant amount of commission costs, which were historically expensed as incurred, will now be deferred and amortized over the expected customer life under the new standard. The accretive benefit to operating income in 2018 is expected to moderate in future years as the basis of the amortization builds. For the year ended December 31, 2018, we recognized commission expense of $2.9 million under the new standard as compared to $13.2 million for the same period under legacy GAAP.
Advertising Costs	Advertising Costs Advertising costs are expensed as incurred. Advertising expense was $11.4 million, $10.9 million and $8.7 million in 2018, 2017 and 2016, respectively.
Statement of Cash Flows Information	Statement of Cash Flows Information During 2018, 2017 and 2016, we made payments for interest and income taxes as follows: (In thousands) 2018 2017 2016 Interest, net of amounts capitalized ($5,659, $1,246 and $1,152 in 2018, 2017 and 2016, respectively) $ 122,422 $ 106,499 $ 69,536 Income taxes (received) paid, net $ $ 953 $ In 2018, 2017 and 2016, we acquired equipment of $19.2 million, $12.8 million and $12.2 million, respectively, through capital lease agreements. In 2017, we issued 20.1 million shares of the Company’s common stock with a market value of $431.0 million in connection with the acquisition of FairPoint as described in Note 3.
Noncontrolling Interest	Noncontrolling Interest We have a majority-owned subsidiary, East Texas Fiber Line Incorporated (“ETFL”), which is a joint venture owned 63% by the Company and 37% by Eastex Telecom Investments, LLC. ETFL provides connectivity over a fiber optic transport network to certain customers residing in Texas.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Effective January 1, 2018, we adopted ASU 2014-09 (also known as ASC 606). The core principle of ASU 2014-09 is that a company should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. In addition, ASU 2014-09 requires disclosures about the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. For additional information on the new standard and the impact to our results of operations, refer to the Revenue Recognition section above. Effective January 1, 2018, we adopted ASU No. 2017-09 (“ASU 2017-09”), Scope of Modification Accounting . ASU 2017-09 clarifies the modification accounting guidance for stock compensation included in Topic 718, Compensation – Stock Compensation. ASU 2017-09 provides guidance about which changes to the terms or conditions of a share-based payment award must be accounted for as a modification under Topic 718. The adoption of this guidance did not have a material impact on our consolidated financial statements and related disclosures. Effective January 1, 2018, we adopted ASU No. 2017-07 (“ASU 2017-07”), Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost . ASU 2017-07 requires presentation of the service cost component of net periodic benefit cost within the same income statement line item as other compensation costs arising from services rendered by relevant employees during the period, and presentation of the other cost components of net periodic benefit cost separately and outside of the income from operations subtotal. In addition, only the service cost component is eligible for capitalization. We adopted ASU 2017-07 prospectively for the capitalization of the service cost component of the net periodic benefit cost. ASU 2017-07 was applied retrospectively using the practical expedient for the presentation of the other components of net periodic benefit cost in the statement of operations and as a result, we reclassified $0.1 million and $1.4 million of expense from cost of services and products and $0.2 million and $0.6 million of expense from selling, general and administrative expenses into other, net within non-operating income (expense) for the year ended December 31, 2017 and 2016, respectively. See Note 9 for the amount of each component of net periodic pension and post-retirement benefit costs. Effective January 1, 2018, we adopted ASU No. 2017-05 (“ASU 2017-05”), Clarifying the Scope of Asset Derecognition Guidance and Accounting for Partial Sales of Nonfinancial Assets . ASU 2017-05 provides additional guidance to (i) clarify the scope for recognizing gains and losses from the transfer of nonfinancial assets and in substance nonfinancial assets in contracts with non-customers, and (ii) clarify the accounting for partial sales of nonfinancial assets. The adoption of this guidance did not have a material impact on our consolidated financial statements and related disclosures. Effective January 1, 2018, we adopted ASU No. 2017-04 (“ASU 2017-04”), Simplifying the Accounting for Goodwill Impairment . ASU 2017-04 eliminates Step 2 from the goodwill impairment test. Under the updated guidance, the goodwill impairment test will be performed by comparing the fair value of a reporting unit with its carrying amount and an impairment charge will be recognized for the amount by which the carrying amount exceeds the reporting unit’s fair value. The adoption of this guidance did not have a material impact on our consolidated financial statements and related disclosures and is not expected to have a material impact on our testing of goodwill. Effective January 1, 2018, we adopted ASU No. 2017-01 (“ASU 2017-01”), Clarifying the Definition of a Business . ASU 2017-01 clarifies the definition of a business and establishes a screening process to determine whether an integrated set of assets and activities acquired is deemed the acquisition of a business or the acquisition of assets. The adoption of this guidance did not have a material impact on our consolidated financial statements and related disclosures. Effective January 1, 2018, we adopted ASU No. 2016-16 (“ASU 2016-16”), Intra-Entity Transfers of Assets Other Than Inventory . ASU 2016-16 eliminates the existing exception prohibiting the recognition of the income tax consequences for intra-entity asset transfers until the asset has been sold to an outside party. Under ASU 2016-16, entities will be required to recognize the income tax consequences of intra-entity asset transfers other than inventory when the transfer occurs. The adoption of this guidance did not have a material impact on our consolidated financial statements and related disclosures. Effective January 1, 2018, we adopted ASU No. 2016-15 (“ASU 2016-15”), Classification of Certain Cash Receipts and Cash Payments . ASU 2016-15 provides guidance concerning the classification of certain cash receipts and cash payments in the statement of cash flows. The adoption of this guidance did not have a material impact on our consolidated financial statements and related disclosures. In August 2018, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2018-15 (“ASU 2018-15”), Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That is a Service Contract . ASU 2018-15 provides guidance on accounting for costs of implementation activities in a cloud computing arrangement that is a service contract. The new guidance should be applied either retrospectively or prospectively and is effective for annual and interim periods beginning after December 15, 2019 with early adoption permitted. We are currently evaluating the impact this update will have on our consolidated financial statements and related disclosures. In August 2018, the FASB issued ASU No. 2018-14 (“ASU 2018-14”), Disclosure Framework – Changes to the Disclosure Requirements for Defined Benefit Plans . ASU 2018-14 modifies disclosure requirements for defined benefit pension and other postretirement plans by removing disclosures that no longer are considered cost beneficial, clarifying the specific requirement of disclosures and adding disclosure requirements identified as relevant. The new guidance is effective retrospectively for annual periods beginning after December 15, 2020 with early adoption permitted. We are currently evaluating the impact this update will have on our consolidated financial statements and related disclosures. In June 2018, the FASB issued ASU No. 2018-07 (“ASU 2018-07”), Improvements to Nonemployee Share-Based Payment Accounting . ASU 2018-07 expands the scope of Topic 718, Compensation – Stock Compensation, to include share-based payment transactions for acquiring goods and services from nonemployees to align the accounting guidance for both employee and nonemployee share-based transactions. The new guidance is effective for annual and interim periods beginning after December 15, 2018 with early adoption permitted. We adopted this update as of January 1, 2019 and do not expect it to have a material impact on our consolidated financial statements and related disclosures. In February 2018, the FASB issued ASU No. 2018-02 (“ASU 2018-02”), Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income . ASU 2018-02 provides an option to allow reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from the Tax Cuts and Jobs Act of 2017. The new guidance is effective for annual and interim periods beginning after December 15, 2018 with early adoption permitted. We adopted this update as of January 1, 2019 and did not make the optional election for reclassification of stranded tax effects from accumulated other comprehensive income (loss) to retained earnings. In August 2017, the FASB issued ASU Update No. 2017-12 (“ASU 2017-12”), Targeted Improvements to Accounting for Hedging Activities . ASU 2017-12 amends current guidance on accounting for hedges mainly to align more closely an entity’s risk management activities and financial reporting relationships through changes to both the designation and measurement guidance for qualifying hedging relationships and the presentation of hedge results. In addition, amendments in ASU 2017-12 simplify the application of hedge accounting by allowing more time to prepare hedge documentation and allowing effectiveness assessments to be performed on a qualitative basis after hedge inception. The new guidance is effective for annual and interim periods beginning after December 15, 2018 with early adoption permitted. We adopted this update as of January 1, 2019 and do not expect it to have a material impact on our consolidated financial statements and related disclosures. In June 2016, the FASB issued ASU No. 2016-13 (“ASU 2016-13”), Measurement of Credit Losses on Financial Instruments . ASU 2016-13 establishes the new “current expected credit loss” model for measuring and recognizing credit losses on financial assets based on relevant information about past events, including historical experience, current conditions and reasonable and supportable forecasts. The new guidance is effective on a modified retrospective basis for annual and interim periods beginning after December 15, 2019, with early adoption permitted for annual and interim periods beginning after December 15, 2018. We have not yet made a decision on the timing of adoption and are currently evaluating the impact this update will have on our consolidated financial statements and related disclosures. In February 2016, the FASB issued ASU No. 2016-02 (“ASU 2016-02”), Leases . ASU 2016-02 establishes a new lease accounting model for leases. Lessees will be required to recognize most leases on their balance sheets but lease expense will be recognized on the income statement in a manner similar to existing requirements. ASU 2016-02 is effective on a modified retrospective basis for annual and interim periods beginning after December 15, 2018, with early adoption permitted. In July 2018, the FASB issued ASU No. 2018-11 (“ASU 2018-11”), Leases: Targeted Improvements , which provides an additional (and optional) transition method for adopting the new lease standard. Under this transition method, an entity initially applies the new lease standard at the adoption date and recognizes a cumulative effect adjustment to opening retained earnings in the period of adoption. Previously reported results will not be restated under this transition method. Effective January 1, 2019, we adopted ASU 2016-02 using the optional transition method. The Company has implemented new processes and internal controls to meet the accounting, reporting and disclosure requirements of the new lease standard upon adoption. As part of the adoption, we elected the package of practical expedients permitted under the new lease standard, which among other things, allows us to carry forward the historical lease classification. We also elected the practical expedient to combine lease and non-lease components, as well as the practical expedient related to land easements, which allows us to carry forward our accounting treatment for land easements in existing agreements. The adoption of the new lease standard will result in the recognition of right-of-use (“ROU”) assets and lease liabilities for historical operating leases, while our accounting for historical capital leases will remain substantially unchanged. Based on information currently available, we estimate that the adoption will result in the recognition of additional ROU assets and lease liabilities of approximately $28.0 million to $33.0 million. We do not believe the new lease standard will have an impact on our liquidity or debt-covenant compliance under our current agreements.
Reclassifications	Reclassifications Certain amounts in our 2017 and 2016 consolidated financial statements have been reclassified to conform to the current year presentation. In accordance with the adoption of ASU 2017-07, as described above, net periodic benefit costs excluding the service cost component were reclassified from operating expense to non-operating income (expense) in our consolidated statement of operations.

BUSINESS DESCRIPTION AND SUMM_3

BUSINESS DESCRIPTION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Dec. 31, 2018
BUSINESS DESCRIPTION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Schedule of activity in the entity's accounts receivable allowance account	Year Ended December 31, (In thousands) 2018 2017 2016 Balance at beginning of year $ 6,667 $ 2,813 $ 3,235 Provision charged to expense 8,793 7,072 2,798 Write-offs, less recoveries Acquired allowance for doubtful accounts — 3,298 — Balance at end of year $ 4,421 $ 6,667 $ 2,813
Schedule of property, plant and equipment	December 31, December 31, Estimated (In thousands) 2018 2017 Useful Lives Land and buildings $ $ - years Central office switching and transmission - years Outside plant cable, wire and fiber facilities - years Furniture, fixtures and equipment - years Assets under capital lease - years Total plant in service Less: accumulated depreciation and amortization Plant in service Construction in progress Construction inventory Totals $ $
Schedule of carrying amount of finite-lived intangible assets	December 31, 2018 December 31, 2017 Gross Carrying Accumulated Gross Carrying Accumulated (In thousands) Useful Lives Amount Amortization Amount Amortization Customer relationships - years $ 516,561 $ (287,602) $ 516,561 $ (223,261) Trade names <1 - years 2,290 (2,290) 3,390 (3,390) Other intangible assets - years 5,600 (4,674) 7,380 (4,454) Total $ 524,451 $ (294,566) $ 527,331 $ (231,105)
Schedule of expected amortization expense	(In thousands) 2019 $ 66,132 2020 50,440 2021 39,374 2022 30,850 2023 23,963 Thereafter 19,126 Total $ 229,885
Schedule of disaggregation of revenue	(In thousands) 2018 2017 2016 Operating Revenues Commercial and carrier: Data and transport services (includes VoIP) $ 349,413 $ 274,221 $ 202,294 Voice services 202,875 152,632 94,221 Other 56,395 33,908 12,454 608,683 460,761 308,969 Consumer: Broadband (VoIP and Data) 253,119 183,634 115,179 Video services 88,338 91,406 94,167 Voice services 202,032 137,696 55,834 543,489 412,736 265,180 Equipment sales and service — — 43,138 Subsidies 83,371 62,272 48,362 Network access 152,582 110,196 63,750 Other products and services 10,949 13,609 13,778 Total operating revenues $ 1,399,074 $ 1,059,574 $ 743,177
Schedule of receivables, contract assets and contract liabilities	Year Ended At (In thousands) December 31, 2018 Adoption Accounts receivable, net $ 133,136 $ 121,745 Contract assets 12,128 1,804 Contract liabilities 52,966 46,368
Schedule of supplemental cash flow information	(In thousands) 2018 2017 2016 Interest, net of amounts capitalized ($5,659, $1,246 and $1,152 in 2018, 2017 and 2016, respectively) $ 122,422 $ 106,499 $ 69,536 Income taxes (received) paid, net $ $ 953 $

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	12 Months Ended
	Dec. 31, 2018
EARNINGS PER SHARE
Schedule of basic and diluted EPS	(In thousands, except per share amounts) 2018 2017 2016 Net income (loss) $ (50,571) $ 65,299 $ 15,196 Less: net income attributable to noncontrolling interest 263 354 265 Income (loss) attributable to common shareholders before allocation of earnings to participating securities (50,834) 64,945 14,931 Less: earnings allocated to participating securities 810 362 524 Net income (loss) attributable to common shareholders, after earnings allocated to participating securities $ (51,644) $ 64,583 $ 14,407 Weighted-average number of common shares outstanding 70,613 60,373 50,301 Net income (loss) per common share attributable to common shareholders - basic and diluted $ (0.73) $ 1.07 $ 0.29

ACQUISITIONS AND DIVESTITURES (

ACQUISITIONS AND DIVESTITURES (Tables)	12 Months Ended
	Dec. 31, 2018
FairPoint acquisition
Summary of purchase price allocation	(In thousands) Cash and cash equivalents $ 56,980 Accounts receivable 72,206 Other current assets 22,012 Assets held for sale 20,843 Property, plant and equipment 1,047,000 Intangible assets 303,180 Other long-term assets 2,685 Total assets acquired 1,524,906 Current liabilities 123,109 Liabilities held for sale 443 Pension and other post-retirement obligations 219,298 Deferred income taxes 96,632 Other long-term liabilities 13,502 Total liabilities assumed 452,984 Net fair value of assets acquired 1,071,922 Goodwill 278,396 Total consideration transferred $ 1,350,318
Schedule of unaudited pro forma results	(Unaudited; in thousands, except per share amounts) 2017 2016 Operating revenues $ $ Income from operations $ $ Net income $ $ Less: net income attributable to noncontrolling interest Net income attributable to common stockholders $ $ Net income per common share-basic and diluted $ 1.29 $ 1.58
Peoples
Summary of assets and liabilities sold	(In thousands) Current assets $ 219 Property, plant and equipment 4,749 Goodwill 16,098 Total assets $ 21,066 Current liabilities $ 209 Deferred taxes 148 Total liabilities $ 357

INVESTMENTS (Tables)

INVESTMENTS (Tables)	12 Months Ended
	Dec. 31, 2018
INVESTMENTS
Schedule of investments	(In thousands) 2018 2017 Cash surrender value of life insurance policies $ 2,371 $ 2,272 Investments at cost: GTE Mobilnet of South Texas Limited Partnership (2.34% interest) 21,450 21,450 Pittsburgh SMSA Limited Partnership (3.60% interest) 22,950 22,950 CoBank, ACB Stock 9,051 9,105 Other 298 343 Equity method investments: GTE Mobilnet of Texas RSA #17 Limited Partnership (20.51% interest) 17,800 17,375 Pennsylvania RSA 6(I) Limited Partnership (16.67% interest) 7,786 7,300 Pennsylvania RSA 6(II) Limited Partnership (23.67% interest) 29,147 28,063 Totals $ 110,853 $ 108,858
Summary of combined unaudited results of operations and financial position of equity investments	(In thousands) 2018 2017 2016 Total revenues $ 346,251 $ 350,611 $ 334,421 Income from operations 100,571 104,973 97,075 Net income before taxes 99,408 103,497 95,473 Net income 99,408 103,497 95,473 Current assets $ 75,040 $ 78,782 $ 64,083 Non-current assets 103,996 95,959 89,651 Current liabilities 24,719 22,472 21,985 Non-current liabilities 51,840 51,463 51,836 Partnership equity 102,478 100,806 79,913

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	12 Months Ended
	Dec. 31, 2018
FAIR VALUE MEASUREMENTS
Schedule of interest rate swap assets and liabilities measured at fair value on a recurring basis	As of December 31, 2018 Quoted Prices Significant In Active Other Significant Markets for Observable Unobservable Identical Assets Inputs Inputs (In thousands) Total (Level 1) (Level 2) (Level 3) Current interest rate swap assets $ 2,465 $ — $ 2,465 $ — Long-term interest rate swap assets 1,524 — 1,524 — Long-term interest rate swap liabilities (6,647) — (6,647) — Total $ (2,658) $ — $ (2,658) $ — As of December 31, 2017 Quoted Prices Significant In Active Other Significant Markets for Observable Unobservable Identical Assets Inputs Inputs (In thousands) Total (Level 1) (Level 2) (Level 3) Long-term interest rate swap assets $ 1,256 $ — $ 1,256 $ — Current interest rate swap liabilities (27) — (27) — Long-term interest rate swap liabilities (1,761) — (1,761) — Total $ (532) $ — $ (532) $ —
Schedule of other financial instruments that are not carried at fair value but which require fair value disclosure	As of December 31, 2018 As of December 31, 2017 (In thousands) Carrying Value Fair Value Carrying Value Fair Value Investments, equity basis $ 54,733 n/a $ 52,738 n/a Investments, at cost $ 53,749 n/a $ 53,848 n/a Long-term debt, excluding capital leases $ 2,315,077 $ 2,155,127 $ 2,331,400 $ 2,253,545

LONG-TERM DEBT (Tables)

LONG-TERM DEBT (Tables)	12 Months Ended
	Dec. 31, 2018
LONG-TERM DEBT
Schedule of components of long-term debt, presented net of unamortized discounts	(In thousands) 2018 2017 Senior secured credit facility: Term loans, net of discounts of $6,994 and $8,344 at December 31, 2018 and 2017, respectively $ 1,796,068 $ 1,813,069 Revolving loan 22,000 22,000 6.50% Senior notes due 2022, net of discount of $2,991 and $3,669 at December 31, 2018 and 2017, respectively 497,009 496,331 Capital leases 30,362 23,890 2,345,439 2,355,290 Less: current portion of long-term debt and capital leases (30,468) (29,696) Less: deferred debt issuance costs (11,386) (14,080) Total long-term debt $ 2,303,585 $ 2,311,514
Schedule of aggregate maturities of long-term debt	At December 31, 2018, the aggregate maturities of our long-term debt excluding capital leases were as follows: (In thousands) 2019 $ 2020 2021 2022 2023 1,729,662 Total maturities 2,325,062 Less: Unamortized discount $

DERIVATIVE FINANCIAL INSTRUME_2

DERIVATIVE FINANCIAL INSTRUMENTS (Tables)	12 Months Ended
	Dec. 31, 2018
DERIVATIVE FINANCIAL INSTRUMENTS
Schedule of outstanding interest rate swaps	The following interest rate swaps were outstanding at December 31, 2018: Notional (In thousands) Amount 2018 Balance Sheet Location Fair Value Cash Flow Hedges: Fixed to 1-month floating LIBOR (with floor) $ Prepaid expenses and other current assets $ Forward starting fixed to 1-month floating LIBOR (with floor) $ Other assets Fixed to 1-month floating LIBOR (with floor) $ Other long-term liabilities Forward starting fixed to 1-month floating LIBOR (with floor) $ Other long-term liabilities Total Fair Values $ Our interest rate swap agreements mature on various dates between September 2019 and July 2023. The forward-starting interest rate swap agreements, each with a term of one year, become effective in July 2019 and July 2020. The following interest rate swaps were outstanding at December 31, 2017: Notional (In thousands) Amount 2017 Balance Sheet Location Fair Value Cash Flow Hedges: Fixed to 1-month floating LIBOR (with floor) $ Other assets $ Fixed to 1-month floating LIBOR (with floor) $ Accrued expense Forward starting fixed to 1-month floating LIBOR (with floor) $ Other assets Series of forward starting fixed to 1-month floating LIBOR (with floor) $ Other long-term liabilities Total Fair Values $
Schedule of effect of interest rate derivatives designated as cash flow hedges on AOCI and on the consolidated statements of operations	(In thousands) 2018 2017 2016 Unrealized loss recognized in AOCI, pretax $ (935) $ (411) $ (469) Deferred losses reclassified from AOCI to interest expense $ $ $ Gain (loss) recognized in interest expense from ineffectiveness $ 649 $ $ 242

EQUITY (Tables)

EQUITY (Tables)	12 Months Ended
	Dec. 31, 2018
EQUITY
Summary of the grants of RSAs and PSAs under the Plan	Year Ended December 31, Grant Date Grant Date Grant Date 2018 Fair Value 2017 Fair Value 2016 Fair Value RSAs Granted 478,210 $ 12.45 124,100 $ 23.12 100,040 $ 23.95 PSAs Granted — $ — 36,982 $ 23.27 94,066 $ 20.86 Total 478,210 161,082 194,106
Summary of RSA and PSA activity	RSAs PSAs Weighted Weighted Average Grant Average Grant Shares Date Fair Value Shares Date Fair Value Non-vested shares outstanding - January 1, 2018 102,181 $ 23.32 77,528 $ 21.46 Shares granted 478,210 $ 12.45 — $ — Shares vested (223,604) $ 14.43 (40,304) $ 21.00 Shares forfeited, cancelled or retired (18,016) $ 14.66 (1,598) $ 21.53 Non-vested shares outstanding - December 31, 2018 338,771 $ 14.31 35,626 $ 21.97
Summary of total compensation costs recognized for share-based payments	Year Ended December 31, (In thousands) 2018 2017 2016 Restricted stock $ 3,249 $ 1,986 $ 2,088 Performance shares 1,870 780 929 Total $ 5,119 $ 2,766 $ 3,017
Schedule of changes in accumulated other comprehensive income (loss), net of tax, by component	Pension and Post-Retirement Derivative (In thousands) Obligations Instruments Total Balance at December 31, 2016 $ (47,150) $ (127) $ (47,277) Other comprehensive loss before reclassifications (4,467) (250) (4,717) Amounts reclassified from accumulated other comprehensive loss 3,153 758 3,911 Net current period other comprehensive loss (1,314) 508 (806) Balance at December 31, 2017 $ (48,464) $ 381 $ (48,083) Other comprehensive loss before reclassifications (10,835) (691) (11,526) Amounts reclassified from accumulated other comprehensive loss 3,785 2,612 6,397 Net current period other comprehensive income (loss) (7,050) 1,921 (5,129) Balance at December 31, 2018 $ (55,514) $ 2,302 $ (53,212)
Summary of reclassifications from accumulated other comprehensive loss	Amount Reclassified from AOCI Year Ended December 31, Affected Line Item in the (In thousands) 2018 2017 Statement of Income Amortization of pension and post-retirement items: Prior service credit $ $ (a) Actuarial loss (a) Plan curtailment — (a) Settlement loss — (a) Total before tax Tax benefit $ $ Net of tax Loss on cash flow hedges: Interest rate derivatives $ $ Interest expense Tax benefit $ $ Net of tax

PENSION PLAN AND OTHER POST-R_2

PENSION PLAN AND OTHER POST-RETIREMENT BENEFITS (Tables)	12 Months Ended
	Dec. 31, 2018
Post-retirement benefit obligation
Schedule of expected benefit payments	Other Pension Post-retirement (In thousands) Plans Plans 2019 $ 34,255 $ 9,526 2020 35,836 9,407 2021 36,574 9,374 2022 37,718 9,183 2023 38,444 8,718 2024 - 2028 206,600 36,862
Defined Benefit Plans
Post-retirement benefit obligation
Summary of change in benefit obligation, plan assets and funded status of the Pension Plans	(In thousands) 2018 2017 Change in benefit obligation Benefit obligation at the beginning of the year $ $ Service cost Interest cost Actuarial loss (gain) Benefits paid Acquisition — Plan amendments — Plan curtailment Plan settlement (3,279) Benefit obligation at the end of the year $ $ 777,987 (In thousands) 2018 2017 Change in plan assets Fair value of plan assets at the beginning of the year $ $ Employer contributions Actual return on plan assets Benefits paid Acquisition — Plan settlement Fair value of plan assets at the end of the year $ $ 552,240 Funded status at year end $ $
Schedule of amounts recognized in the consolidated balance sheets	( In thousands) 2018 2017 Current liabilities $ $ Long-term liabilities $ $
Schedule of amounts recognized in accumulated other comprehensive loss	(In thousands) 2018 2017 Unamortized prior service cost (credit) $ 1,175 $ Unamortized net actuarial loss 95,362 85,984 $ 96,537 $ 84,583
Schedule of the components of net periodic pension cost	(In thousands) 2018 2017 2016 Service cost $ 5,809 $ 3,055 $ 343 Interest cost 28,870 21,882 16,291 Expected return on plan assets Amortization of: Net actuarial loss 6,110 6,244 5,423 Prior service credit Plan curtailment — Plan settlement 94 17 — Net periodic pension cost $ 883 $ 1,086 $ 964
Summary of changes in plan assets and benefit obligations recognized in other comprehensive loss, before tax effects	(In thousands) 2018 2017 Actuarial loss, net $ $ Recognized actuarial loss Prior service cost 1,216 — Recognized prior service credit Plan curtailment Plan settlement Total amount recognized in other comprehensive loss, before tax effects $ $ 4,270
Schedule of weighted-average discount rate assumptions used to determine benefit obligations and net periodic pension benefit cost	Discount rate - net periodic benefit cost 3.75 % 4.02 % 4.76 % Discount rate - benefit obligation 4.39 % 3.75 % 4.27 % Expected long-term rate of return on plan assets 7.03 % 7.23 % 7.75 % Rate of compensation/salary increase 2.50 % 2.39 % %
Schedule of fair values of assets for the entity's defined benefit pension plans	As of December 31, 2018 Quoted Prices Significant In Active Other Significant Markets for Observable Unobservable Identical Assets Inputs Inputs (In thousands) Total (Level 1) (Level 2) (Level 3) Cash and cash equivalents $ $ 15,107 $ — $ — Equities: Stocks: U.S. common stocks 46,830 — — International stocks 9,656 — — Funds: U.S. small cap 7,222 — — U.S. mid cap 30,752 — — U.S. large cap 51,847 — — Emerging markets 15,954 — — International 81,398 — — Fixed Income: U.S. treasury and government agency securities 25,616 — — Corporate and municipal bonds — 36,700 — Mortgage/asset-backed securities — 8,733 — Mutual funds 10,763 — — Total plan assets in the fair value hierarchy $ 295,145 $ 45,433 $ — Common Collective Trusts measured at NAV: (1) Short-term investments (2) Equities: U.S. small cap U.S. large cap Emerging markets International Fixed Income 103,345 Total plan assets Other liabilities (3) Net plan assets $ 499,791 As of December 31, 2017 Quoted Prices Significant In Active Other Significant Markets for Observable Unobservable Identical Assets Inputs Inputs (In thousands) Total (Level 1) (Level 2) (Level 3) Cash and cash equivalents $ 10,383 $ 10,383 $ — $ — Equities: Stocks: U.S. common stocks 62,088 62,088 — — International stocks 12,310 12,310 — — Funds: U.S. small cap 5,874 5,874 — — U.S. mid cap 36,306 36,306 — — U.S. large cap 45,427 45,427 — — Emerging markets 18,736 18,736 — — International 104,403 104,403 — — Fixed Income: U.S. treasury and government agency securities 27,192 27,190 2 — Corporate and municipal bonds 37,069 — 37,069 — Mortgage/asset-backed securities 9,024 — 9,024 — Mutual funds 12,140 12,140 — — Total plan assets in the fair value hierarchy $ 334,857 $ 46,095 $ — Common Collective Trusts measured at NAV: (1) Short-term investments (2) Equities: U.S. small cap U.S. large cap Emerging markets International Fixed Income 104,282 Total plan assets Other liabilities (3) Net plan assets $ 552,240 (1) Certain investments that are measured at fair value using NAV per share as a practical expedient have not been categorized in the fair value hierarchy. The fair value amounts presented in these tables are intended to permit reconciliation of the fair value hierarchy to the total plan assets. (2) Short-term investments include an investment in a common collective trust which is principally comprised of certificates of deposit, commercial paper, U.S. government obligations and variable rate securities with maturities less than one year. (3) Net amount due for securities purchased and sold.
Post-retirement Benefit Obligations
Post-retirement benefit obligation
Summary of change in benefit obligation, plan assets and funded status of the Pension Plans	(In thousands) 2018 2017 Change in benefit obligation Benefit obligation at the beginning of the year $ $ Service cost Interest cost Plan participant contributions Actuarial gain Benefits paid (10,130) (6,934) Plan amendments 6,662 — Acquisition — 76,413 Benefit obligation at the end of the year $ $ 116,970 (In thousands) 2018 2017 Change in plan assets Fair value of plan assets at the beginning of the year $ 2,484 $ 2,286 Employer contributions 9,746 6,478 Plan participant’s contributions 384 456 Actual return on plan assets 307 198 Benefits paid Fair value of plan assets at the end of the year $ 2,791 $ 2,484 Funded status at year end $ $
Schedule of amounts recognized in the consolidated balance sheets	(In thousands) 2018 2017 Current liabilities $ $ Long-term liabilities $ $
Schedule of amounts recognized in accumulated other comprehensive loss	(In thousands) 2018 2017 Unamortized prior service cost (credit) $ 2,200 $ Unamortized net actuarial loss gain $ $
Schedule of the components of net periodic pension cost	(In thousands) 2018 2017 2016 Service cost $ 405 $ 498 $ 602 Interest cost 4,128 3,034 2,019 Expected return on plan assets Amortization of: Net actuarial gain (56) (173) — Prior service cost (credit) 367 Net periodic postretirement benefit cost $ 4,702 $ 2,725 $ 1,952
Summary of changes in plan assets and benefit obligations recognized in other comprehensive loss, before tax effects	(In thousands) 2018 2017 Actuarial gain, net $ $ Recognized actuarial gain 56 173 Prior service cost 6,662 — Recognized prior service (cost) credit Total amount recognized in other comprehensive loss, before tax effects $ $ (2,205)
Schedule of weighted-average discount rate assumptions used to determine benefit obligations and net periodic pension benefit cost	2018 2017 2016 Net periodic benefit cost 3.62 % 3.96 % 4.61 % Benefit obligation 4.35 % 3.67 % 4.12 %
Schedule of a one percent change in the assumed healthcare cost trend rate	(In thousands) 1% Increase 1% Decrease Effect on total of service and interest cost $ 137 $ Effect on postretirement benefit obligation $ 2,324 $
Schedule of fair values of assets for the entity's defined benefit pension plans	As of December 31, 2018 Quoted Prices Significant In Active Other Significant Markets for Observable Unobservable Identical Assets Inputs Inputs (In thousands) Total (Level 1) (Level 2) (Level 3) Cash and cash equivalents $ 4 $ 4 $ — $ — Equities: U.S. common stocks 240 240 — — International stocks 83 83 — — Funds: U.S. mid cap 75 75 — U.S. large cap 74 74 — — Emerging markets 188 188 — — International 449 449 — — Total plan assets in the fair value hierarchy 1,113 $ 1,113 $ — $ — Common Collective Trusts measured at NAV: (1) Short-term investments (2) 61 Equities: U.S. small cap 123 U.S. large cap 133 Emerging markets 103 International 181 Fixed Income 1,220 Total plan assets 2,934 Benefit payments payable Other liabilities (3) Net plan assets $ 2,791 As of December 31, 2017 Quoted Prices Significant In Active Other Significant Markets for Observable Unobservable Identical Assets Inputs Inputs (In thousands) Total (Level 1) (Level 2) (Level 3) Cash and cash equivalents $ 4 $ 4 $ — $ — Equities: U.S. common stocks 242 242 — — International stocks 76 76 — — Funds: U.S. mid cap 92 92 — — U.S. large cap 73 73 — — Emerging markets 176 176 — — International 487 487 — — Total plan assets in the fair value hierarchy $ 1,150 $ — $ — Common Collective Trusts measured at NAV: (1) Short-term investments (2) Equities: U.S. small cap U.S. large cap Emerging markets International Fixed Income 978 Total plan assets 2,710 Benefit payments payable (225) Other liabilities (3) (1) Net plan assets $ 2,484 (1) Certain investments that are measured at fair value using NAV per share as a practical expedient have not been categorized in the fair value hierarchy. The fair value amounts presented in these tables are intended to permit reconciliation of the fair value hierarchy to the total plan assets. (2) Short-term investments include investment in a common collective trust which is principally comprised of certificates of deposit, commercial paper and U.S. government obligations with maturities less than one year. (3) Net amount due for securities purchased and sold.

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2018
INCOME TAXES
Schedule of components of income tax expense (benefit)	For the Year Ended (In thousands) 2018 2017 2016 Current: Federal $ 247 $ 1,055 $ 1,390 State 1,634 145 709 Total current expense 1,881 1,200 2,099 Deferred: Federal (17,248) (141,726) 20,087 State (8,760) 15,599 776 Total deferred expense (benefit) (26,008) (126,127) 20,863 Total income tax expense (benefit) $ (24,127) $ (124,927) $ 22,962
Schedule of reconciliation of the federal statutory tax rate to the effective tax rate	For the Year Ended (In percentages) 2018 2017 2016 Statutory federal income tax rate 21.0 % 35.0 % 35.0 % State income taxes, net of federal benefit 5.2 4.1 2.9 Transaction costs - (5.8) — Other permanent differences (0.9) 0.2 0.9 Change in deferred tax rate 3.7 (9.1) (4.0) Change in deferred tax rate - Federal Tax Reform 6.9 189.4 — Valuation allowance (2.3) (4.3) 1.6 Provision to return 0.5 — 0.3 Sale of stock in subsidiary (1.0) — 19.1 Non deductible goodwill - — 3.8 Acquisition related (1.3) — — Other 0.5 — 0.6 32.3 % 209.5 % 60.2 %
Schedule of components of the net deferred tax liability	Year Ended December 31, (In thousands) 2018 2017 Non-current deferred tax assets: Reserve for uncollectible accounts $ $ Accrued vacation pay deducted when paid Accrued expenses and deferred revenue Net operating loss carryforwards Pension and postretirement obligations Share-based compensation 9 — Derivative instruments Financing costs Tax credit carryforwards Valuation allowance Net non-current deferred tax assets Non-current deferred tax liabilities: Goodwill and other intangibles Basis in investment Partnership investments Property, plant and equipment Other Net non-current deferred taxes $ $
Schedule of reconciliation of the unrecognized tax benefits	Liability for Unrecognized Tax Benefits (In thousands) 2018 2017 Balance at January 1 $ 4,296 $ 64 Additions for tax positions related to FairPoint acquisition 637 4,296 Reduction for tax positions of prior years — (64) Balance at December 31 $ $

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	12 Months Ended
	Dec. 31, 2018
COMMITMENTS AND CONTINGENCIES
Summary of minimum annual contractual obligations and the estimated timing and effect the obligations will have on liquidity and cash flows	Minimum Annual Contractual Obligations (in thousands) 2019 2020 2021 2022 2023 Thereafter Total Operating lease agreements $ $ $ $ $ $ $ Capital lease agreements 5,388 Capital expenditures (1) — — — — — Service and support agreements (2) Transport and data connectivity 7,789 5,494 5,887 Total $ $ $ $ $ $ $ (1) We have binding commitments with numerous suppliers for future capital expenditures. (2) We have entered into service and maintenance agreements to support various computer hardware and software applications and certain equipment.

QUARTERLY FINANCIAL INFORMATI_2

QUARTERLY FINANCIAL INFORMATION (UNAUDITED) (Tables)	12 Months Ended
	Dec. 31, 2018
QUARTERLY FINANCIAL INFORMATION (UNAUDITED)
Schedule of unaudited quarterly financial information	Quarter Ended 2018 March 31, June 30, September 30, December 31, (In thousands, except per share amounts) Net revenues $ 356,039 $ 350,221 $ 348,064 $ 344,750 Operating income $ 9,239 $ 5,427 $ 748 $ 3,555 Net loss attributable to common stockholders $ (11,298) $ (10,643) $ (14,914) $ (13,979) Basic and diluted loss per share $ (0.16) $ (0.15) $ (0.21) $ (0.20) Quarter Ended 2017 March 31, June 30, September 30, December 31, (In thousands, except per share amounts) Net revenues $ 169,935 $ 169,950 $ 363,329 $ 356,360 Operating income (loss) $ 19,079 $ 20,552 $ (7,691) $ 6,972 Net income (loss) attributable to common stockholders $ (3,685) $ (2,728) $ (28,448) $ 99,806 Basic and diluted earnings (loss) per share $ (0.07) $ (0.06) $ (0.41) $ 1.41

CONDENSED CONSOLIDATING FINAN_2

CONDENSED CONSOLIDATING FINANCIAL INFORMATION (Tables)	12 Months Ended
	Dec. 31, 2018
CONDENSED CONSOLIDATING FINANCIAL INFORMATION
Schedule of condensed consolidating balance sheets	Condensed Consolidating Balance Sheets (amounts in thousands) December 31, 2018 Parent Subsidiary Issuer Guarantors Non-Guarantors Eliminations Consolidated ASSETS Current assets: Cash and cash equivalents $ — $ 9,616 $ — $ 1 $ (18) $ 9,599 Accounts receivable, net — — 122,743 10,430 (37) 133,136 Income taxes receivable 10,272 — 790 10 — 11,072 Prepaid expenses and other current assets — 2,465 41,547 324 — 44,336 Total current assets 10,272 12,081 165,080 10,765 (55) 198,143 Property, plant and equipment, net — — 1,861,009 66,117 — 1,927,126 Intangibles and other assets: Investments — 8,673 102,180 — — 110,853 Investments in subsidiaries 3,587,612 3,505,477 15,949 — (7,109,038) — Goodwill — — 969,093 66,181 — 1,035,274 Customer relationships, net — — 228,959 — — 228,959 Other intangible assets — — 2,396 9,087 — 11,483 Advances due to/from affiliates, net — 2,379,079 760,310 97,898 (3,237,287) — Deferred income taxes 76,758 — — — (76,758) — Other assets — 1,524 18,237 651 3,011 23,423 Total assets $ 3,674,642 $ 5,906,834 $ 4,123,213 $ 250,699 $ (10,420,127) $ 3,535,261 LIABILITIES AND SHAREHOLDERS’ EQUITY Current liabilities: Accounts payable $ — $ — $ 32,502 $ — $ — $ 32,502 Advance billings and customer deposits — — 46,316 1,408 — 47,724 Dividends payable 27,579 — — — — 27,579 Accrued compensation — — 63,688 771 — 64,459 Accrued interest — 8,430 802 — — 9,232 Accrued expense 40 37 70,365 1,263 (55) 71,650 Current portion of long term debt and capital lease obligations — 18,350 11,968 150 — 30,468 Total current liabilities 27,619 26,817 225,641 3,592 (55) 283,614 Long-term debt and capital lease obligations — 2,285,341 17,988 256 — 2,303,585 Advances due to/from affiliates, net 3,237,287 — — — (3,237,287) — Deferred income taxes — 122 239,880 21,874 (73,747) 188,129 Pension and postretirement benefit obligations — — 295,815 18,319 — 314,134 Other long-term liabilities — 6,942 22,305 898 — 30,145 Total liabilities 3,264,906 2,319,222 801,629 44,939 (3,311,089) 3,119,607 Shareholders’ equity: Common Stock 712 — 17,411 30,000 (47,411) 712 Other shareholders’ equity 409,024 3,587,612 3,298,255 175,760 (7,061,627) 409,024 Total Consolidated Communications Holdings, Inc. shareholders’ equity 409,736 3,587,612 3,315,666 205,760 (7,109,038) 409,736 Noncontrolling interest — — 5,918 — — 5,918 Total shareholders’ equity 409,736 3,587,612 3,321,584 205,760 (7,109,038) 415,654 Total liabilities and shareholders’ equity $ 3,674,642 $ 5,906,834 $ 4,123,213 $ 250,699 $ (10,420,127) $ 3,535,261 December 31, 2017 Parent Subsidiary Issuer Guarantors Non-Guarantors Eliminations Consolidated ASSETS Current assets: Cash and cash equivalents $ — $ 8,919 $ 6,738 $ — $ — $ 15,657 Accounts receivable, net — — 114,303 7,701 (476) 121,528 Income taxes receivable 20,275 — 1,571 — — 21,846 Prepaid expenses and other current assets — — 33,188 130 — 33,318 Assets held for sale — — — 21,310 — 21,310 Total current assets 20,275 8,919 155,800 29,141 (476) 213,659 Property, plant and equipment, net — — 1,972,190 65,416 — 2,037,606 Intangibles and other assets: Investments — 8,495 100,363 — — 108,858 Investments in subsidiaries 3,643,930 2,133,049 35,374 — (5,812,353) — Goodwill — — 971,851 66,181 — 1,038,032 Customer relationships, net — — 293,300 — — 293,300 Other intangible assets — — 4,396 9,087 — 13,483 Advances due to/from affiliates, net — 2,441,690 555,332 92,615 (3,089,637) — Deferred income taxes 21,244 — — — (21,244) — Other assets — 1,307 12,844 37 — 14,188 Total assets $ 3,685,449 $ 4,593,460 $ 4,101,450 $ 262,477 $ (8,923,710) $ 3,719,126 LIABILITIES AND SHAREHOLDERS’ EQUITY Current liabilities: Accounts payable $ — $ — $ 24,143 $ — $ — $ 24,143 Advance billings and customer deposits — — 41,026 1,500 — 42,526 Dividends payable 27,418 — — — — 27,418 Accrued compensation — — 48,795 975 — 49,770 Accrued interest — 8,824 519 — — 9,343 Accrued expense 107 504 70,976 930 (476) 72,041 Current portion of long term debt and capital lease obligations — 18,350 11,150 196 — 29,696 Liabilities held for sale — — — 1,003 — 1,003 Total current liabilities 27,525 27,678 196,609 4,604 (476) 255,940 Long-term debt and capital lease obligations — 2,298,970 12,139 405 — 2,311,514 Advances due to/from affiliates, net 3,089,637 — — — (3,089,637) — Deferred income taxes — 750 209,116 21,098 (21,244) 209,720 Pension and postretirement benefit obligations — — 315,129 19,064 — 334,193 Other long-term liabilities — 1,761 31,030 1,026 — 33,817 Total liabilities 3,117,162 2,329,159 764,023 46,197 (3,111,357) 3,145,184 Shareholders’ equity: Common Stock 708 — 17,411 30,000 (47,411) 708 Other shareholders’ equity 567,579 2,264,301 3,314,361 186,280 (5,764,942) 567,579 Total Consolidated Communications Holdings, Inc. shareholders’ equity 568,287 2,264,301 3,331,772 216,280 (5,812,353) 568,287 Noncontrolling interest — — 5,655 — — 5,655 Total shareholders’ equity 568,287 2,264,301 3,337,427 216,280 (5,812,353) 573,942 Total liabilities and shareholders’ equity $ 3,685,449 $ 4,593,460 $ 4,101,450 $ 262,477 $ (8,923,710) $ 3,719,126
Schedule of condensed consolidating statements of operations	Condensed Consolidating Statements of Operations (amounts in thousands) Year Ended December 31, 2018 Parent Subsidiary Issuer Guarantors Non-Guarantors Eliminations Consolidated Net revenues $ — $ — $ 1,356,074 $ 55,541 $ (12,541) $ 1,399,074 Operating expenses: Cost of services and products (exclusive of depreciation and amortization) — — 607,582 16,386 (12,096) 611,872 Selling, general and administrative expenses 4,087 — 317,289 12,674 (445) 333,605 Acquisition and other transaction costs 1,960 — — — — 1,960 Depreciation and amortization — — 422,704 9,964 — 432,668 Operating income (loss) (6,047) — 8,499 16,517 — 18,969 Other income (expense): Interest expense, net of interest income (103) (136,378) 1,785 118 — (134,578) Intercompany interest income (expense) — 58,908 (58,844) (64) — — Investment income — 178 39,418 — — 39,596 Equity in earnings of subsidiaries, net (42,181) 8,858 5,133 — 28,190 — Other, net 7 — 1,067 241 — 1,315 Income (loss) before income taxes (48,324) (68,434) (2,942) 16,812 28,190 (74,698) Income tax expense (benefit) 2,510 (26,253) (5,784) 5,400 — (24,127) Net income (loss) (50,834) (42,181) 2,842 11,412 28,190 (50,571) Less: net income attributable to noncontrolling interest — — 263 — — 263 Net income (loss) attributable to Consolidated Communications Holdings, Inc. $ (50,834) $ (42,181) $ 2,579 $ 11,412 $ 28,190 $ (50,834) Total comprehensive income (loss) attributable to common shareholders $ $ $ $ 10,486 $ 40,369 $ Year Ended December 31, 2017 Parent Subsidiary Issuer Guarantors Non-Guarantors Eliminations Consolidated Net revenues $ — $ — $ 1,013,505 $ 58,776 $ (12,707) $ 1,059,574 Operating expenses: Cost of services and products (exclusive of depreciation and amortization) — — 447,029 11,245 (12,276) 445,998 Selling, general and administrative expenses 1,924 30 234,198 13,420 (431) 249,141 Acquisition and other transaction costs 33,650 — — — — 33,650 Depreciation and amortization — — 280,843 11,030 — 291,873 Operating income (loss) (35,574) (30) 51,435 23,081 — 38,912 Other income (expense): Interest expense, net of interest income (12) (128,737) (1,183) 146 — (129,786) Intercompany interest income (expense) — 58,909 (58,827) (82) — — Investment income — 157 31,592 — — 31,749 Equity in earnings of subsidiaries, net 101,863 109,015 1,918 — (212,796) — Other, net — 3 (694) 188 — (503) Income (loss) before income taxes 66,277 39,317 24,241 23,333 (212,796) (59,628) Income tax expense (benefit) 1,332 (27,610) (97,667) (982) — (124,927) Net income (loss) 64,945 66,927 121,908 24,315 (212,796) 65,299 Less: net income attributable to noncontrolling interest — — 354 — — 354 Net income (loss) attributable to Consolidated Communications Holdings, Inc. $ 64,945 $ 66,927 $ 121,554 $ 24,315 $ (212,796) $ 64,945 Total comprehensive income (loss) attributable to common shareholders $ $ $ $ $ $ Year Ended December 31, 2016 Parent Subsidiary Issuer Guarantors Non-Guarantors Eliminations Consolidated Net revenues $ — $ (15) $ 697,557 $ 58,785 $ (13,150) $ 743,177 Operating expenses: Cost of services and products (exclusive of depreciation and amortization) — — 321,936 12,197 (12,721) 321,412 Selling, general and administrative expenses 3,331 7 141,029 12,582 (429) 156,520 Acquisition and other transaction costs 1,214 — — — — 1,214 Loss on impairment — — 610 — — 610 Depreciation and amortization — — 164,577 9,433 — 174,010 Operating income (loss) (4,545) (22) 69,405 24,573 — 89,411 Other income (expense): Interest expense, net of interest income 46 (76,213) (694) 35 — (76,826) Intercompany interest income (expense) (63,773) 97,102 (34,846) 1,517 — — Loss on extinguishment of debt — (6,559) — — — (6,559) Investment income — 166 32,806 — — 32,972 Equity in earnings of subsidiaries, net 58,208 56,600 711 — (115,519) — Other, net — (328) (202) (310) — (840) Income (loss) before income taxes (10,064) 70,746 67,180 25,815 (115,519) 38,158 Income tax expense (benefit) (24,995) 12,538 25,807 9,612 — 22,962 Net income (loss) 14,931 58,208 41,373 16,203 (115,519) 15,196 Less: net income attributable to noncontrolling interest — — 265 — — 265 Net income (loss) attributable to Consolidated Communications Holdings, Inc. $ 14,931 $ 58,208 $ 41,108 $ 16,203 $ (115,519) $ 14,931 Total comprehensive income (loss) attributable to common shareholders $ $ $ $ $ $
Schedule of condensed consolidating statements of cash flows	Condensed Consolidating Statements of Cash Flows (amounts in thousands) Year Ended December 31, 2018 Parent Subsidiary Issuer Guarantors Non-Guarantors Consolidated Net cash provided by (used in) operating activities $ 2,323 $ (43,781) $ 388,930 $ 9,849 $ 357,321 Cash flows from investing activities: Purchases of property, plant and equipment — — (235,147) (9,669) (244,816) Proceeds from sale of assets — — 1,688 437 2,125 Proceeds from business dispositions 20,999 — — — 20,999 Proceeds from sale of investments — — 233 — 233 Net cash provided by (used in) investing activities 20,999 — (233,226) (9,232) (221,459) Cash flows from financing activities: Proceeds from issuance of long-term debt — 189,588 — — 189,588 Payment of capital lease obligation — — (12,559) (196) (12,755) Payment on long-term debt — (207,938) — — (207,938) Share repurchases for minimum tax withholding (593) — — — (593) Dividends on common stock (110,222) — — — (110,222) Transactions with affiliates, net 87,493 62,828 (149,901) (420) — Net cash provided by (used in) financing activities (23,322) 44,478 (162,460) (616) (141,920) Increase (decrease) in cash and cash equivalents — 697 (6,756) 1 (6,058) Cash and cash equivalents at beginning of period — 8,919 6,738 — 15,657 Cash and cash equivalents at end of period $ — $ 9,616 $ (18) $ 1 $ 9,599 Year Ended December 31, 2017 Parent Subsidiary Issuer Guarantors Non-Guarantors Consolidated Net cash (used in) provided by operating activities $ (23,237) $ (25,625) $ 235,810 $ 23,079 $ 210,027 Cash flows from investing activities: Business acquisition, net of cash acquired (862,385) — — — (862,385) Purchases of property, plant and equipment — — (167,187) (13,998) (181,185) Proceeds from sale of assets — — 829 30 859 Net cash used in investing activities (862,385) — (166,358) (13,968) (1,042,711) Cash flows from financing activities: Proceeds from issuance of long-term debt — 1,052,325 — — 1,052,325 Payment of capital lease obligation — — (7,746) (187) (7,933) Payment on long-term debt — (111,337) — — (111,337) Payment of financing costs — (16,732) — — (16,732) Share repurchases for minimum tax withholding (571) — — — (571) Dividends on common stock (94,138) — — — (94,138) Transactions with affiliates, net 980,681 (916,776) (54,981) (8,924) — Other (350) — — — (350) Net cash provided by (used in) financing activities 885,622 7,480 (62,727) (9,111) 821,264 Increase (decrease) in cash and cash equivalents — (18,145) 6,725 — (11,420) Cash and cash equivalents at beginning of period — 27,064 13 — 27,077 Cash and cash equivalents at end of period $ — $ 8,919 $ 6,738 $ — $ 15,657 Year Ended December 31, 2016 Subsidiary Parent Issuer Guarantors Non-Guarantors Consolidated Net cash (used in) provided by operating activities $ (23,634) $ 13,315 $ 200,098 $ 28,454 $ 218,233 Cash flows from investing activities: Business acquisition, net of cash acquired (13,422) — — — (13,422) Purchases of property, plant and equipment — — (111,389) (13,803) (125,192) Proceeds from sale of assets — — 198 10 208 Proceeds from business disposition 30,119 — — — 30,119 Net cash provided by (used in) investing activities 16,697 — (111,191) (13,793) (108,287) Cash flows from financing activities: Proceeds from issuance of long-term debt — 936,750 — — 936,750 Payment of capital lease obligation — — (2,743) (142) (2,885) Payment on long-term debt — (943,050) — — (943,050) Payment of financing costs — (9,912) — — (9,912) Share repurchases for minimum tax withholding (1,231) — — — (1,231) Dividends on common stock (78,419) — — — (78,419) Transactions with affiliates, net 86,587 24,084 (93,780) (16,891) — Net cash provided by (used in) financing activities 6,937 7,872 (96,523) (17,033) (98,747) Increase in cash and cash equivalents — 21,187 (7,616) (2,372) 11,199 Cash and cash equivalents at beginning of period — 5,877 7,629 2,372 15,878 Cash and cash equivalents at end of period $ — $ 27,064 $ 13 $ — $ 27,077

BUSINESS DESCRIPTION AND SUMM_4

BUSINESS DESCRIPTION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Business (Details) item in Thousands	Dec. 31, 2018stateitemmi
BUSINESS DESCRIPTION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Number of states | state	23
Number of fiber route miles | mi	37,000
Number of voice connections	902
Number of data connections	779
Number of video connections	93

BUSINESS DESCRIPTION AND SUMM_5

BUSINESS DESCRIPTION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Accounts Receivable and Allowance for Doubtful Accounts (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Activity in the entity's accounts receivable allowance
Balance at beginning of year	$ 6,667	$ 2,813	$ 3,235
Provision charged to expense	8,793	7,072	2,798
Write-offs, less recoveries	(11,039)	(6,516)	(3,220)
Acquired allowance for doubtful accounts		3,298
Balance at end of year	$ 4,421	$ 6,667	$ 2,813

BUSINESS DESCRIPTION AND SUMM_6

BUSINESS DESCRIPTION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Property, Plant, and Equipment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Property, plant and equipment
Total plant in service	$ 3,774,198	$ 3,506,393
Less: accumulated depreciation and amortization	(1,953,813)	(1,598,093)
Plant in service	1,820,385	1,908,300
Totals	1,927,126	2,037,606
Depreciation and amortization expense	$ 366,300	263,800	$ 161,100
Internal use network and non-network software | Maximum
Property, plant and equipment
Period after which property plan and equipment capitalized	1 year
Land and buildings
Property, plant and equipment
Total plant in service	$ 257,208	252,369
Land and buildings | Minimum
Property, plant and equipment
Estimated Useful Lives	18 years
Land and buildings | Maximum
Property, plant and equipment
Estimated Useful Lives	40 years
Central office switching and transmission
Property, plant and equipment
Total plant in service	$ 1,234,687	1,099,948
Central office switching and transmission | Minimum
Property, plant and equipment
Estimated Useful Lives	3 years
Central office switching and transmission | Maximum
Property, plant and equipment
Estimated Useful Lives	25 years
Outside plant cable, wire and fiber facilities
Property, plant and equipment
Total plant in service	$ 1,934,185	1,843,896
Outside plant cable, wire and fiber facilities | Minimum
Property, plant and equipment
Estimated Useful Lives	3 years
Outside plant cable, wire and fiber facilities | Maximum
Property, plant and equipment
Estimated Useful Lives	50 years
Furniture, fixtures and equipment
Property, plant and equipment
Total plant in service	$ 285,102	265,045
Furniture, fixtures and equipment | Minimum
Property, plant and equipment
Estimated Useful Lives	3 years
Furniture, fixtures and equipment | Maximum
Property, plant and equipment
Estimated Useful Lives	15 years
Assets under capital lease
Property, plant and equipment
Total plant in service	$ 63,016	45,135
Assets under capital lease | Minimum
Property, plant and equipment
Estimated Useful Lives	3 years
Assets under capital lease | Maximum
Property, plant and equipment
Estimated Useful Lives	11 years
Construction in progress
Property, plant and equipment
Total plant in service	$ 68,325	89,144
Construction inventory
Property, plant and equipment
Total plant in service	$ 38,416	$ 40,162

BUSINESS DESCRIPTION AND SUMM_7

BUSINESS DESCRIPTION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Intangible Assets (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Finite lived intangible assets
Impairment charge for goodwill	$ 0	$ 0	$ 0
Preceding period of average stock price used to calculate impairment of reporting unit under the fair value model	3 months
Goodwill	$ 1,035,274,000	1,038,032,000
Goodwill increase (decrease)	(2,800,000)
Gross Carrying Amount	524,451,000	527,331,000
Accumulated Amortization	(294,566,000)	(231,105,000)
Amortization of intangible assets	66,300,000	28,000,000	$ 12,900,000
Expected amortization expense
2,019	66,132,000
2,020	50,440,000
2,021	39,374,000
2,022	30,850,000
2,023	23,963,000
Thereafter	19,126,000
Net carrying amount	229,885,000
Customer Relationships
Finite lived intangible assets
Gross Carrying Amount	516,561,000	516,561,000
Accumulated Amortization	$ (287,602,000)	(223,261,000)
Customer Relationships | Minimum
Finite lived intangible assets
Useful Lives	3 years
Customer Relationships | Maximum
Finite lived intangible assets
Useful Lives	13 years
Tradenames
Finite lived intangible assets
Indefinitely renewable tradenames	$ 10,600,000	10,600,000
Gross Carrying Amount	2,290,000	3,390,000
Accumulated Amortization	$ (2,290,000)	(3,390,000)
Tradenames | Minimum
Finite lived intangible assets
Useful Lives	1 year
Tradenames | Maximum
Finite lived intangible assets
Useful Lives	2 years
Other Intangible Assets
Finite lived intangible assets
Gross Carrying Amount	$ 5,600,000	7,380,000
Accumulated Amortization	$ (4,674,000)	$ (4,454,000)
Other Intangible Assets | Minimum
Finite lived intangible assets
Useful Lives	1 year
Other Intangible Assets | Maximum
Finite lived intangible assets
Useful Lives	5 years

BUSINESS DESCRIPTION AND SUMM_8

BUSINESS DESCRIPTION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Share-based , Pension Plan, and Income Taxes (Details)	12 Months Ended
	Dec. 31, 2018item
Share-based Compensation
Vesting period over which the cost of RSAs and PSAs is recognized	4 years
Pension Plan and Other Post-Retirement Benefits
Number of non-qualified plans	2
Amortization threshold (as a percentage)	10.00%
Income Taxes
Minimum number of states in which entity operates	1

BUSINESS DESCRIPTION AND SUMM_9

BUSINESS DESCRIPTION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Revenue Recognition (Details) - ASC 606 Adjustments - ASU 2014-09 $ in Millions	Dec. 31, 2018USD ($)
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Cumulative effect adjustment	$ 4.1
Adjustment of partnership interests	$ 1.8

BUSINESS DESCRIPTION AND SUM_10

BUSINESS DESCRIPTION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Jan. 01, 2018
Disaggregation of Revenue [Line Items]
Total operating revenues	$ 344,750	$ 348,064	$ 350,221	$ 356,039	$ 356,360	$ 363,329	$ 169,950	$ 169,935	$ 1,399,074	$ 1,059,574	$ 743,177
Receivables, contract assets and contract liabilities
Accounts receivable, net	133,136								133,136			$ 121,745
Contract assets	12,128								12,128			1,804
Contract liabilities	$ 52,966								52,966			$ 46,368
Recognized expenses related to deferred contract acquisition costs.									2,900
Deferred revenue									360,400
Recognized revenue related to deferred revenue									$ 354,200
Revenue, Practical Expedient, Remaining Performance Obligation									true
Minimum
Receivables, contract assets and contract liabilities
Payment term									30 days
Maximum
Receivables, contract assets and contract liabilities
Payment term									60 days
Before 606
Receivables, contract assets and contract liabilities
Recognized expenses related to deferred contract acquisition costs.									$ 13,200
Commercial and carrier
Disaggregation of Revenue [Line Items]
Total operating revenues									608,683	460,761	308,969
Commercial and carrier - Data and transport services (including VoIP)
Disaggregation of Revenue [Line Items]
Total operating revenues									349,413	274,221	202,294
Commercial and carrier - Voice services
Disaggregation of Revenue [Line Items]
Total operating revenues									202,875	152,632	94,221
Commercial and carrier - Other
Disaggregation of Revenue [Line Items]
Total operating revenues									56,395	33,908	12,454
Consumer
Disaggregation of Revenue [Line Items]
Total operating revenues									543,489	412,736	265,180
Consumer - Broadband (VoIP and Data)
Disaggregation of Revenue [Line Items]
Total operating revenues									253,119	183,634	115,179
Consumer - Video services
Disaggregation of Revenue [Line Items]
Total operating revenues									88,338	91,406	94,167
Consumer - Voice services
Disaggregation of Revenue [Line Items]
Total operating revenues									202,032	137,696	55,834
Equipment sales and service
Disaggregation of Revenue [Line Items]
Total operating revenues											43,138
Subsidies
Disaggregation of Revenue [Line Items]
Total operating revenues									83,371	62,272	48,362
Network access
Disaggregation of Revenue [Line Items]
Total operating revenues									152,582	110,196	63,750
Other products and services
Disaggregation of Revenue [Line Items]
Total operating revenues									$ 10,949	$ 13,609	$ 13,778

BUSINESS DESCRIPTION AND SUM_11

BUSINESS DESCRIPTION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Advertising Costs and Cash Flow (Details) - USD ($) $ in Thousands, shares in Millions	Jul. 03, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Advertising costs
Advertising expense		$ 11,400	$ 10,900	$ 8,700
Statement of Cash Flows Information
Interest, net of amounts capitalized		122,422	106,499	69,536
Interest capitalized		5,659	1,246	1,152
Income taxes (received) paid, net		(9,060)	953	(183)
Noncash investing and financing activities:
Equipment acquired under capital lease		$ 19,200	$ 12,800	$ 12,200
FairPoint acquisition
Noncash investing and financing activities:
Number of shares issued on date of merger	20.1		20.1
Value of shares issued in connection with the merger			$ 431,000

BUSINESS DESCRIPTION AND SUM_12

BUSINESS DESCRIPTION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Noncontrolling Interest (Details) - ETFL	Dec. 31, 2018
Noncontrolling Interest
Ownership interest (as a percent)	63.00%
Eastex Telecom Investments, LLC
Noncontrolling Interest
Minority interest holding percentage	37.00%

BUSINESS DESCRIPTION AND SUM_13

BUSINESS DESCRIPTION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Recent Accounting Pronouncements (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative adjustment: unrecognized excess tax benefits		$ 2,242
Cost of services and products	$ 611,872	445,998	$ 321,412
Selling, general and administrative expenses	333,605	249,141	156,520
ASU 2017-07 | Adjustments
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cost of services and products		(100)	(1,400)
Selling, general and administrative expenses		$ (200)	$ (600)
ASU 2016-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Lease liabilities	33,000
ROU assets	$ 28,000

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Basic and diluted earnings per share attributable to common shareholders
Net income (loss)									$ (50,571)	$ 65,299	$ 15,196
Less: net income attributable to noncontrolling interest									263	354	265
Net income (loss) attributable to common stockholders	$ (13,979)	$ (14,914)	$ (10,643)	$ (11,298)	$ 99,806	$ (28,448)	$ (2,728)	$ (3,685)	(50,834)	64,945	14,931
Less: earnings allocated to participating securities									810	362	524
Net income (loss) attributable to common shareholders, after earnings allocated to participating securities									$ (51,644)	$ 64,583	$ 14,407
Weighted-average number of common shares outstanding									70,613	60,373	50,301
Basic and diluted earnings (loss) per common share:
Net income (loss) per basic and diluted common shares attributable to common shareholders (in dollars per share)	$ (0.20)	$ (0.21)	$ (0.15)	$ (0.16)	$ 1.41	$ (0.41)	$ (0.06)	$ (0.07)	$ (0.73)	$ 1.07	$ 0.29
Common shares excluded from computation of potentially dilutive shares because of anti-dilutive effect									500	300	300

ACQUISITIONS AND DIVESTITURES -

ACQUISITIONS AND DIVESTITURES - (Details) $ / shares in Units, $ in Thousands	Jul. 03, 2017USD ($)mi$ / sharesshares	Jul. 01, 2016USD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2018USD ($)statemi	Dec. 31, 2017USD ($)$ / sharesshares	Dec. 31, 2016USD ($)$ / shares
Unaudited Pro Forma Results
Number of states | state				23
Number of fiber route miles | mi				37,000
Transaction costs				$ 1,960	$ 33,650	$ 1,214
Estimated purchase price allocation
Goodwill			$ 1,038,032	1,035,274	1,038,032
Incremental Term Loan Facility
Unaudited Pro Forma Results
Aggregate principal amount	$ 935,000
FairPoint acquisition
Unaudited Pro Forma Results
Operating revenues					1,460,620	1,567,620
Income from operations					60,926	70,291
Net income					91,131	111,723
Less: net income attributable to noncontrolling interest					354	265
Net income attributable to common stockholders					$ 90,777	$ 111,458
Net income per common share-basic and diluted (in dollars per share) | $ / shares					$ 1.29	$ 1.58
Number of fiber route miles | mi	22,000
Number of route miles of fiber network in New England | mi	17,000
Business combination exchange ratio	0.7300
Purchase consideration at acquisition	$ 431,000
Assumption of debt at acquisition	$ 919,300
Number of shares issued on date of merger | shares	20,100,000				20,100,000
Warrants outstanding | shares	2,615,153
Number of shares eligible for each warrant | shares	1
Exercise price of warrants | $ / shares	$ 66.86
Transaction costs					$ 33,000
Net carrying value of assets held for sale	$ 20,400
Measurement period adjustments
Increase in working capital				9,400
Increase in other long-term liabilities				2,400
Decrease in property, plant and equipment				(6,600)
Decrease in deferred income taxes				(2,400)
Decrease in goodwill				$ (2,800)
Estimated purchase price allocation
Cash and cash equivalents	56,980
Accounts receivable	72,206
Other current assets	22,012
Assets held for sale	20,843
Property, plant and equipment	1,047,000
Intangible assets	303,180
Other long-term assets	2,685
Total assets acquired	1,524,906
Current liabilities	123,109
Liabilities held for sale	443
Pension and other post-retirement obligations	219,298
Deferred income taxes	96,632
Other long-term liabilities	13,502
Total liabilities assumed	452,984
Net fair value assets acquired	1,071,922
Goodwill	278,396
Total consideration transferred	1,350,318
FairPoint acquisition | Acquisition-related Costs
Unaudited Pro Forma Results
Net revenues			389,500
Net income			(22,700)
Transaction costs			$ 12,300
FairPoint acquisition | Customer Relationships
Unaudited Pro Forma Results
Identifiable intangible assets acquired	$ 300,300
FairPoint acquisition | Customer Relationships | Minimum
Unaudited Pro Forma Results
Estimated useful life	7 years
FairPoint acquisition | Customer Relationships | Maximum
Unaudited Pro Forma Results
Estimated useful life	11 years
FairPoint acquisition | Tradenames
Unaudited Pro Forma Results
Identifiable intangible assets acquired	$ 1,100
Estimated useful life	6 months
FairPoint acquisition | Non-compete agreements
Unaudited Pro Forma Results
Identifiable intangible assets acquired	$ 1,800
Estimated useful life	1 year
FairPoint acquisition | Incremental Term Loan Facility
Unaudited Pro Forma Results
Aggregate principal amount						$ 935,000
Champaign Telephone Company And Big Broadband Services
Unaudited Pro Forma Results
Cash paid on acquisition		$ 13,400
Estimated purchase price allocation
Property, plant and equipment		6,900
Intangible assets		1,000
Goodwill		4,700
Working capital		$ 800

ACQUISITIONS AND DIVESTITURES_2

ACQUISITIONS AND DIVESTITURES - Divestiture (Details) $ in Thousands	Jul. 31, 2018USD ($)	Dec. 06, 2016USD ($)	Sep. 01, 2016USD ($)	May 03, 2016item	Aug. 31, 2017	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)
Divestitures
Current assets							$ 21,310
Current liabilities							1,003
Proceeds from business dispositions						$ 20,999		$ 30,119
Loss on impairment								610
Income tax expense (benefit)						(24,127)	$ (124,927)	22,962
CCIC | Disposal Group, Disposed of by Sale, Not Discontinued Operations
Divestitures
Proceeds from business dispositions			$ 21,000
Rural communities | item				11
Income tax expense (benefit)								7,200
Peoples | Disposal Group, Disposed of by Sale, Not Discontinued Operations
Divestitures
Current assets	$ 219
Property, plant, and equipment	4,749
Goodwill	16,098
Total assets	21,066
Current liabilities	209
Deferred taxes	148
Total liabilities	357
Proceeds from business dispositions	$ 21,000
Income tax expense (benefit)						800
Peoples | Disposal Group, Held-for-sale, Not Discontinued Operations
Divestitures
Annual revenue from divestitures (as a percentage)					1.00%
ePlus Technology inc. | Disposal Group, Disposed of by Sale, Not Discontinued Operations
Divestitures
Proceeds from business dispositions		$ 9,200
Selling, general and administrative expense | Peoples | Disposal Group, Disposed of by Sale, Not Discontinued Operations
Divestitures
Gain (loss) on sale of business dispositions						$ (200)
Other, net | CCIC | Disposal Group, Disposed of by Sale, Not Discontinued Operations
Divestitures
Gain (loss) on sale of business dispositions								(300)
Other, net | ePlus Technology inc. | Disposal Group, Disposed of by Sale, Not Discontinued Operations
Divestitures
Gain (loss) on sale of business dispositions								$ 600

INVESTMENTS - Schedule of Inves

INVESTMENTS - Schedule of Investments (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Investments
Cash distributions received from partnerships treated as investments at cost	$ 17,300	$ 12,800	$ 12,900
Carrying value of investments in excess of underlying equity	32,800	32,800
Investments
Cash surrender value of life insurance policies	2,371	2,272
Total	$ 110,853	$ 108,858
GTE Mobilnet of South Texas Limited Partnership
Investments
Ownership percentage of investments at cost	2.34%	2.34%
Investments
Investments at cost	$ 21,450	$ 21,450
Pittsburgh SMSA Limited Partnership
Investments
Ownership percentage of investments at cost	3.60%	3.60%
Investments
Investments at cost	$ 22,950	$ 22,950
CoBank, ACB Stock
Investments
Investments at cost	9,051	9,105
Other
Investments
Investments at cost	$ 298	$ 343
GTE Mobilnet of Texas RSA #17 Limited Partnership
Investments
Ownership percentage of equity method investee	20.51%	20.51%
Investments
Equity method investments	$ 17,800	$ 17,375
Pennsylvania RSA 6(I) Limited Partnership
Investments
Ownership percentage of equity method investee	16.67%	16.67%
Investments
Equity method investments	$ 7,786	$ 7,300
Pennsylvania RSA 6(II) Limited Partnership
Investments
Ownership percentage of equity method investee	23.67%	23.67%
Investments
Equity method investments	$ 29,147	$ 28,063

INVESTMENTS - Equity Method (De

INVESTMENTS - Equity Method (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)item	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)
Investments
Number of entity's investments which is accounted for using equity method | item	3
Cash distributions received from partnerships treated as equity method investees	$ 21,800	$ 17,200	$ 19,200
Summary of unaudited summarized income statement information
Total revenues	346,251	350,611	334,421
Income from operations	100,571	104,973	97,075
Net income before taxes	99,408	103,497	95,473
Net income	99,408	103,497	95,473
Summary of unaudited summarized balance sheet information
Current assets	75,040	78,782	64,083
Non-current assets	103,996	95,959	89,651
Current liabilities	24,719	22,472	21,985
Non-current liabilities	51,840	51,463	51,836
Partnership equity	102,478	$ 100,806	$ 79,913
ASC 606 Adjustments | ASU 2014-09
Investments
Adjustment of partnership interests	$ 1,800

FAIR VALUE MEASUREMENTS - Finan

FAIR VALUE MEASUREMENTS - Financial Instruments (Details) - Recurring - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Fair Value Measurements
Current interest rate swap assets	$ 2,465
Long-term interest rate swap assets	1,524	$ 1,256
Current interest rate swap liabilities		(27)
Long-term interest rate swap liabilities	(6,647)	(1,761)
Total	(2,658)	(532)
Significant Other Observable Inputs (Level 2)
Fair Value Measurements
Current interest rate swap assets	2,465
Long-term interest rate swap assets	1,524	1,256
Current interest rate swap liabilities		(27)
Long-term interest rate swap liabilities	(6,647)	(1,761)
Total	$ (2,658)	$ (532)

FAIR VALUE MEASUREMENTS - Fin_2

FAIR VALUE MEASUREMENTS - Financial Instruments Not Carried at FV (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Carrying Value
Fair Value Measurements
Investments, equity basis	$ 54,733	$ 52,738
Investments at cost	53,749	53,848
Long-term debt	2,315,077	2,331,400
Fair Value
Fair Value Measurements
Long-term debt	$ 2,155,127	$ 2,253,545

LONG-TERM DEBT (Details)

LONG-TERM DEBT (Details) $ in Thousands	Feb. 01, 2019USD ($)	Jul. 03, 2017USD ($)	Dec. 21, 2016	Jun. 08, 2015USD ($)	Oct. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)item	Oct. 31, 2016USD ($)	Sep. 30, 2014USD ($)	Mar. 31, 2019	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)	Jan. 31, 2019USD ($)	Jul. 02, 2017USD ($)	Dec. 14, 2016USD ($)
Debt
Total long-term debt						$ 2,355,290					$ 2,345,439	$ 2,355,290
Less: current portion of long-term debt and capital leases						(29,696)					(30,468)	(29,696)
Less: deferred debt issuance costs						(14,080)					(11,386)	(14,080)
Total long-term debt						2,311,514					2,303,585	2,311,514
Unamortized discount											$ 9,985
Leverage ratio								3			4.37
Deferred debt issuance costs						14,080					$ 11,386	14,080
Loss on extinguishment of debt													$ 6,559
Dividend declared					$ 27,600						110,383	101,951	78,473
Dividends available for distribution											$ 322,200
Percentage of increase in available cash used in repayment of debt during dividend suspension period											50.00%
Interest coverage ratio											3.99
Number of amendments | item							2
Remaining consolidated cash available for dividends and other restricted payments											$ 1,102,000
Cumulative consolidated cash available to pay dividends and other restricted payments											$ 1,645,800
Forecast
Debt
Dividend paid	$ 27,600													$ 543,700
Minimum
Debt
Interest coverage ratio											2.25
Maximum
Debt
Leverage ratio											5.10
Leverage ratio for an event of default											5.25
Senior Notes 6.50 Percent Due 2022
Debt
Total long-term debt						496,331					$ 497,009	496,331
Unamortized discount						$ 3,669					$ 2,991	$ 3,669
Aggregate principal amount				$ 300,000					$ 200,000
Leverage ratio											4.43
Interest rate (as a percent)				6.50%		6.50%			6.50%		6.50%	6.50%
Dividends available for distribution											$ 50,000
Issue price as a percentage of par				98.26%
Yield to maturity (as a percent)				6.80%
Gross proceeds				$ 294,800					$ 200,000
Number of times to be applied to fixed charges for calculating the deduction from cumulative consolidated net cash											1.75
Senior Notes 6.50 Percent Due 2022 | Maximum
Debt
Leverage ratio											4.75
Senior Secured Credit Facility | Weighted average
Debt
Weighted average interest rate (as a percent)											5.54%	4.58%
Term Loan
Debt
Total long-term debt						$ 1,813,069					$ 1,796,068	$ 1,813,069
Less: deferred debt issuance costs																$ (2,500)
Unamortized discount						8,344		$ 2,300			6,994	8,344
Aggregate principal amount								$ 900,000
Quarterly principal payments required											$ 2,250
Deferred debt issuance costs																$ 2,500
Issue discount (as a percentage)								0.25%
Term Loan | LIBOR
Debt
Interest rate (as a percent)											3.00%
Term Loan | LIBOR | Minimum
Debt
Margin (as a percent)											1.00%
Senior secured credit facility - revolving loan
Debt
Total long-term debt						22,000					$ 22,000	22,000
Maximum borrowing capacity of credit facility								$ 110,000
Amounts outstanding						22,000					22,000	22,000
Stand-by letter of credit outstanding											16,200
Available borrowing capacity											71,800
Senior secured credit facility - revolving loan | Maximum
Debt
Stand-by letter of credit outstanding		$ 20,000													$ 15,000
Senior secured credit facility - revolving loan | LIBOR
Debt
Amounts outstanding						17,000					$ 10,000	17,000
Senior secured credit facility - revolving loan | LIBOR | Minimum
Debt
Margin (as a percent)											2.50%
Senior secured credit facility - revolving loan | LIBOR | Maximum
Debt
Margin (as a percent)											3.25%
Senior secured credit facility - revolving loan | LIBOR | Weighted average | Forecast
Debt
Margin (as a percent)										3.00%
Senior secured credit facility - revolving loan | Alternate base rate
Debt
Amounts outstanding						5,000					$ 12,000	5,000
Senior secured credit facility - revolving loan | Alternate base rate | Minimum
Debt
Margin (as a percent)											1.50%
Senior secured credit facility - revolving loan | Alternate base rate | Maximum
Debt
Margin (as a percent)											2.25%
Senior secured credit facility - revolving loan | Alternate base rate | Weighted average | Forecast
Debt
Margin (as a percent)										2.00%
Capital lease agreements
Debt
Total long-term debt						23,890					$ 30,362	$ 23,890
Incremental Term Loan Facility
Debt
Aggregate principal amount		$ 935,000
Quarterly principal payments required						$ 2,340
Issue discount (as a percentage)			0.50%
Commitment fees amortized over commitment period							$ 14,000
Incremental Term Loan Facility | Maximum
Debt
Additional borrowing capacity								$ 300,000
Incremental Term Loan Facility | FairPoint acquisition
Debt
Aggregate principal amount							$ 935,000						$ 935,000
Incremental Term Loan Facility | LIBOR | Minimum
Debt
Margin (as a percent)		1.00%
Incremental Term Loan Facility | LIBOR | Maximum
Debt
Margin (as a percent)		3.00%

LONG-TERM DEBT - Future Maturit

LONG-TERM DEBT - Future Maturities (Details) $ in Thousands	Dec. 31, 2018USD ($)
Aggregate maturities of our long-term debt
2,019	$ 18,350
2,020	18,350
2,021	40,350
2,022	518,350
2,023	1,729,662
Total maturities	2,325,062
Unamortized discount	(9,985)
Long-term debt excluding capital leases	$ 2,315,077

DERIVATIVE FINANCIAL INSTRUME_3

DERIVATIVE FINANCIAL INSTRUMENTS - Interest Rate Swaps (Details) $ in Thousands	Mar. 12, 2018item	Dec. 31, 2018USD ($)item	Dec. 31, 2017USD ($)
Derivatives
Number of swap agreements that provide for the entity or the counterparties to post collateral | item		0
Forward starting fixed to 1-month floating LIBOR (with floor)
Derivatives
Term of derivative contract		1 year
Interest rate swaps
Derivatives
Total fair value, derivative asset (liability)		$ (2,658)	$ (532)
Cash flow hedges | Interest rate swaps
Derivatives
Notional amount		$ 500,000
Term of derivative contract		5 years
Number of new counterparties | item	5
De-designated Hedges | Interest rate swaps
Derivatives
Loss recognized as an increase to interest expense		$ 2,500
Prepaid expense and other current assets | Cash flow hedges | Fixed to 1-month floating LIBOR (with floor)
Derivatives
Derivative, Notional Amount		650,000
Prepaid expenses and other current assets		2,465
Other Assets. | Cash flow hedges | Fixed to 1-month floating LIBOR (with floor)
Derivatives
Derivative, Notional Amount			600,000
Other assets			873
Other Assets. | Cash flow hedges | Forward starting fixed to 1-month floating LIBOR (with floor)
Derivatives
Derivative, Notional Amount		705,000	600,000
Other assets		1,524	383
Accrued Expense | Cash flow hedges | Fixed to 1-month floating LIBOR (with floor)
Derivatives
Derivative, Notional Amount			150,000
Accrued expense			(27)
Other long-term liabilities | Cash flow hedges | Fixed to 1-month floating LIBOR (with floor)
Derivatives
Derivative, Notional Amount		500,000
Other long-term liabilities		(5,698)
Other long-term liabilities | Cash flow hedges | Forward starting fixed to 1-month floating LIBOR (with floor)
Derivatives
Derivative, Notional Amount		705,000
Other long-term liabilities		$ (949)
Other long-term liabilities | Cash flow hedges | Series of forward starting fixed to 1-month floating LIBOR (with floor)
Derivatives
Derivative, Notional Amount			1,410,000
Other long-term liabilities			$ (1,761)

DERIVATIVE FINANCIAL INSTRUME_4

DERIVATIVE FINANCIAL INSTRUMENTS - Effect of Interest Rate Derivatives (Details) - Interest rate swaps - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Derivative Instruments
Derivatives
Deferred gain (losses) included in AOCI (pretax)	$ 3,200	$ 600
Gain included in AOCI to be recognized in the next 12 months	1,500
Cash flow hedges
Derivatives
Unrealized loss recognized in AOCI, pretax	(935)	(411)	$ (469)
Deferred losses reclassified from AOCI to interest expense	(3,467)	(1,246)	(1,352)
Gain (loss) recognized in interest expense from ineffectiveness	$ 649	$ (121)	$ 242

EQUITY (Details)

EQUITY (Details) - USD ($) $ / shares in Units, $ in Millions	Feb. 18, 2019	Apr. 30, 2018	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Stock-based compensation plans
Dividends declared per common share (in dollars per share)			$ 0.38738	$ 0.38738	$ 0.38738	$ 0.38738	$ 1.55	$ 1.55	$ 1.55
Additional shares of common stock authorized		2,000,000
Shares of common stock authorized for issuance			4,650,000				4,650,000
Vesting period							4 years
Shares
Shares granted							478,210	161,082	194,106
Total fair value of the awards vested							$ 4.1	$ 3.4	$ 3.4
Weighted Average Grant Date Fair Value
Income tax benefits related to stock-based compensation							1.3	$ 1.1	$ 1.2
Unrecognized share-based compensation
Unrecognized compensation cost			$ 9				$ 9
Weighted-average period of recognition							1 year 9 months 18 days
Maximum
Stock-based compensation plans
Shares that may be granted in the form of stock options or stock appreciation rights to any eligible employee or director in any calendar year							300,000
Payout opportunity as a percentage of the target							120.00%
Minimum
Stock-based compensation plans
Payout opportunity as a percentage of the target							0.00%
Forecast
Stock-based compensation plans
Dividends declared per common share (in dollars per share)	$ 0.38738
Restricted stock
Stock-based compensation plans
Vesting period							4 years
Shares
Non-vested shares outstanding at the beginning of the period						102,181	102,181
Shares granted							478,210	124,100	100,040
Shares vested							(223,604)
Shares forfeited, cancelled or retired							(18,016)
Non-vested shares outstanding at the end of the period			338,771				338,771	102,181
Weighted Average Grant Date Fair Value
Non-vested shares outstanding at the beginning of the period (in dollars per share)						$ 23.32	$ 23.32
Shares granted (in dollars per share)							12.45	$ 23.12	$ 23.95
Shares vested (in dollars per share)							14.43
Shares forfeited, cancelled or retired (in dollars per share)							14.66
Non-vested shares outstanding at the end of the period (in dollars per share)			$ 14.31				$ 14.31	$ 23.32
Performance shares
Shares
Non-vested shares outstanding at the beginning of the period						77,528	77,528
Shares granted								36,982	94,066
Shares vested							(40,304)
Shares forfeited, cancelled or retired							(1,598)
Non-vested shares outstanding at the end of the period			35,626				35,626	77,528
Weighted Average Grant Date Fair Value
Non-vested shares outstanding at the beginning of the period (in dollars per share)						$ 21.46	$ 21.46
Shares granted (in dollars per share)								$ 23.27	$ 20.86
Shares vested (in dollars per share)							21
Shares forfeited, cancelled or retired (in dollars per share)							21.53
Non-vested shares outstanding at the end of the period (in dollars per share)			$ 21.97				$ 21.97	$ 21.46

EQUITY - Compensation costs (De

EQUITY - Compensation costs (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Stock-based compensation plans
Stock-based compensation expense	$ 5,119	$ 2,766	$ 3,017
Restricted stock
Stock-based compensation plans
Stock-based compensation expense	3,249	1,986	2,088
Performance shares
Stock-based compensation plans
Stock-based compensation expense	$ 1,870	$ 780	$ 929

EQUITY - Changes in AOCI (Detai

EQUITY - Changes in AOCI (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Accumulated other comprehensive loss, net of tax, by component
Balance at the beginning of the period	$ (48,083)	$ (47,277)
Other comprehensive loss before reclassifications	(11,526)	(4,717)
Amounts reclassified from accumulated other comprehensive loss	6,397	3,911
Net current period other comprehensive income	(5,129)	(806)	$ (11,578)
Balance at the end of the period	(53,212)	(48,083)	(47,277)
Pension and Post-Retirement Obligations
Accumulated other comprehensive loss, net of tax, by component
Balance at the beginning of the period	(48,464)	(47,150)
Other comprehensive loss before reclassifications	(10,835)	(4,467)
Amounts reclassified from accumulated other comprehensive loss	3,785	3,153
Net current period other comprehensive income	(7,050)	(1,314)
Balance at the end of the period	(55,514)	(48,464)	(47,150)
Derivative Instruments
Accumulated other comprehensive loss, net of tax, by component
Balance at the beginning of the period	381	(127)
Other comprehensive loss before reclassifications	(691)	(250)
Amounts reclassified from accumulated other comprehensive loss	2,612	758
Net current period other comprehensive income	1,921	508
Balance at the end of the period	$ 2,302	$ 381	$ (127)

EQUITY - Reclassification from

EQUITY - Reclassification from AOCI (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
EQUITY
Income (loss) before income taxes	$ (74,698)	$ (59,628)	$ 38,158
Interest expense	(134,578)	(129,786)	(76,826)
Tax benefit	24,127	124,927	(22,962)
Net income (loss)	(50,571)	65,299	$ 15,196
Pension and Post-Retirement Obligations | Amount Reclassified from AOCI
EQUITY
Prior service credit	(163)	837
Actuarial loss	(6,054)	(6,071)
Plan curtailment	1,156
Settlement loss	(94)
Income (loss) before income taxes	(5,155)	(5,234)
Tax benefit	1,370	2,081
Net income (loss)	(3,785)	(3,153)
Derivative Instruments | Amount Reclassified from AOCI
EQUITY
Interest expense	(3,467)	(1,246)
Tax benefit	855	488
Net income (loss)	$ (2,612)	$ (758)

PENSION PLANS AND OTHER POST-RE

PENSION PLANS AND OTHER POST-RETIREMENT BENEFITS - Defined Benefit Plans (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Amounts recognized in the consolidated balance sheets
Long-term liabilities	$ (314,134)	$ (334,193)
Defined Benefit Plans
Change in benefit obligation
Benefit obligation at the beginning of the year	777,987	350,392
Service cost	5,809	3,055	$ 343
Interest cost	28,870	21,882	16,291
Actuarial loss (gain)	(67,558)	41,232
Benefits paid	(30,870)	(26,099)
Acquisition		390,269
Plan amendments	1,216
Plan curtailment	(1)	(27)
Plan settlement	(3,279)	(2,717)
Benefit obligation at the end of the year	712,174	777,987	350,392
Change in plan assets
Fair value of plan assets at the beginning of the year	552,240	263,733
Employer contributions	26,200	12,533
Actual return on plan assets	(44,500)	60,785
Benefits paid	(30,870)	(26,099)
Acquisition		244,005
Plan settlement	(3,279)	(2,717)
Fair value of plan assets at the end of the year	499,791	552,240	263,733
Funded status at year end	(212,383)	(225,747)
Amounts recognized in the consolidated balance sheets
Current liabilities	(243)	(243)
Long-term liabilities	(212,140)	(225,504)
Amounts recognized in accumulated other comprehensive income
Unamortized prior service cost (credit)	1,175	(1,401)
Unamortized net actuarial loss (gain)	95,362	85,984
Total	96,537	84,583
Components of net periodic pension costs
Service cost	5,809	3,055	343
Interest cost	28,870	21,882	16,291
Expected return on plan assets	(38,640)	(28,459)	(20,635)
Net amortization loss (gain)	6,110	6,244	5,423
Net prior service cost (credit) amortization	(204)	(316)	(458)
Plan curtailment	(1,156)	(1,337)
Plan settlement	94	17
Net periodic pension cost (benefit)	883	1,086	$ 964
Changes in plan assets and benefit obligations recognized in other comprehensive income, before tax effects
Actuarial loss (gain), net	15,583	8,906
Recognized actuarial (loss) gain	(6,111)	(6,272)
Prior service cost (credit)	1,216
Recognized prior service (cost) credit	204	316
Plan curtailment	1,156	1,337
Plan settlement	(94)	(17)
Total amount recognized in other comprehensive income, before tax effects	11,954	$ 4,270
Amount to be amortized from accumulated other comprehensive income in net periodic benefit cost in the next fiscal year
Estimated net actuarial loss that will be amortized from accumulated other comprehensive loss in net periodic postretirement cost	2,800
Estimated net prior service cost that will be amortized from accumulated other comprehensive loss in net periodic postretirement cost	$ 100
Weighted-average assumptions used to determine the projected benefit obligations and net periodic benefit cost
Discount rate - net periodic benefit cost (as a percent)	3.75%	4.02%	4.76%
Discount rate - benefit obligation (as a percent)	4.39%	3.75%	4.27%
Expected long-term rate of return on plan assets (as a percent)	7.03%	7.23%	7.75%
Rate of compensation/salary increase for net periodic benefit cost (as a percent)	2.50%	2.39%	1.75%
Post-retirement Benefit Obligations
Change in benefit obligation
Benefit obligation at the beginning of the year	$ 116,970	$ 46,318
Service cost	405	498	$ 602
Interest cost	4,128	3,034	2,019
Plan participant contributions	384	456
Actuarial loss (gain)	(8,517)	(2,815)
Benefits paid	(10,130)	(6,934)
Acquisition		76,413
Plan amendments	6,662
Benefit obligation at the end of the year	109,902	116,970	46,318
Change in plan assets
Fair value of plan assets at the beginning of the year	2,484	2,286
Employer contributions	9,746	6,478
Plan participant contributions	384	456
Actual return on plan assets	307	198
Benefits paid	(10,130)	(6,934)
Fair value of plan assets at the end of the year	2,791	2,484	2,286
Funded status at year end	(107,111)	(114,486)
Amounts recognized in the consolidated balance sheets
Current liabilities	(6,594)	(7,515)
Long-term liabilities	(100,517)	(106,971)
Amounts recognized in accumulated other comprehensive income
Unamortized prior service cost (credit)	2,200	(4,095)
Unamortized net actuarial loss (gain)	(10,396)	(1,770)
Total	(8,196)	(5,865)
Components of net periodic pension costs
Service cost	405	498	602
Interest cost	4,128	3,034	2,019
Expected return on plan assets	(142)	(113)	(148)
Net amortization loss (gain)	(56)	(173)
Net prior service cost (credit) amortization	367	(521)	(521)
Net periodic pension cost (benefit)	4,702	2,725	$ 1,952
Changes in plan assets and benefit obligations recognized in other comprehensive income, before tax effects
Actuarial loss (gain), net	(8,682)	(2,899)
Recognized actuarial (loss) gain	56	173
Prior service cost (credit)	6,662
Recognized prior service (cost) credit	(367)	521
Total amount recognized in other comprehensive income, before tax effects	(2,331)	$ (2,205)
Increase in benefit obligation	6,700
Increase in net periodic post-retirement benefit cost	$ 1,400
Weighted-average assumptions used to determine the projected benefit obligations and net periodic benefit cost
Discount rate - net periodic benefit cost (as a percent)	3.62%	3.96%	4.61%
Discount rate - benefit obligation (as a percent)	4.35%	3.67%	4.12%
Estimated net prior service cost that will be amortized from accumulated other comprehensive loss in net periodic postretirement cost	$ 3,100
Estimated net actuarial gain that will be amortized from accumulated other comprehensive loss in net periodic postretirement cost	$ (400)

PENSION PLANS AND OTHER POST-_2

PENSION PLANS AND OTHER POST-RETIREMENT BENEFITS - Other Non-qualified Deferred Comp Agreements (Details)	12 Months Ended
	Dec. 31, 2018USD ($)item	Dec. 31, 2017USD ($)
Other Non-qualified Deferred Compensation Agreements
Minimum number of years benefits are payable	5 years
Minimum age at which payments under deferred compensation agreements may begin	55 years
Payment related to deferred compensation agreements	$ 300,000	$ 200,000
Net present value of the remaining obligations	$ 1,600,000	1,900,000
Number of life insurance policies | item	25
Excess of cash surrender value of remaining life insurance policies over notes payable	$ 2,400,000	2,300,000
Death benefit payable	7,000,000	$ 7,000,000
New benefits accrued	$ 0

PENSION PLANS AND OTHER POST-_3

PENSION PLANS AND OTHER POST-RETIREMENT BENEFITS - Assumptions (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)item	Dec. 31, 2017USD ($)
FairPoint Communications, Inc
Defined benefit plans
Number of non-contributory qualified defined benefit pension plans | item	2
Capped number of years for benefit accruals	30 years
Defined Benefit Plans
Defined benefit plans
Employer contributions	$ 26,200	$ 12,533
Amount to be amortized from accumulated other comprehensive income in net periodic benefit cost in the next fiscal year
Estimated net actuarial loss that will be amortized from accumulated other comprehensive loss in net periodic postretirement cost	2,800
Estimated net prior service cost that will be amortized from accumulated other comprehensive loss in net periodic postretirement cost	$ 100
Post-retirement Benefit Obligations
Defined benefit plans
Number of persons eligible to become a new participant | item	0
Assets in unfunded plans	$ 0
Employer contributions	9,746	$ 6,478
Weighted-average assumptions used to determine the projected benefit obligations and net periodic benefit cost
Effect of one percent increase on total of service and interest cost	137
Effect of one percent increase on postretirement benefit obligation	2,324
Effect of one percent decrease on postretirement benefit obligation	(2,281)
Effect of one percent decrease on total of service and interest cost	$ (127)
Health care trend rate assumed for the next fiscal year (as a percent)	7.00%
Ultimate health care cost trend rate (as a percent)	5.00%
Supplemental Plans
Defined benefit plans
Number of non-qualified plans | item	2
Number of persons eligible to become a new participant | item	0
Assets in unfunded plans	$ 0

PENSION PLANS AND OTHER POST-_4

PENSION PLANS AND OTHER POST-RETIREMENT BENEFITS - Plan Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Post-retirement benefit obligation
Unfunded commitments	$ 0
Minimum
Post-retirement benefit obligation
Long-term investment horizon	5 years
Maximum
Post-retirement benefit obligation
Redemption notice period	10 days
Long-term investment horizon	15 years
Maximum | Equity Securities
Post-retirement benefit obligation
Target allocation (as a percent)	66.00%
Defined Benefit Plans
Post-retirement benefit obligation
Fair value of assets	$ 499,957	$ 552,408
Other liabilities	(166)	(168)
Net plan assets	499,791	552,240	$ 263,733
Expected contribution in the next fiscal year	26,300
Benefit payments expected to be paid
2,019	34,255
2,020	35,836
2,021	36,574
2,022	37,718
2,023	38,444
2024-2028	206,600
Defined Benefit Plans | Fair Value Level 1 and Level 2
Post-retirement benefit obligation
Fair value of assets	340,578	380,952
Defined Benefit Plans | Quoted Prices In Active Markets for Identical Assets (Level 1)
Post-retirement benefit obligation
Fair value of assets	295,145	334,857
Defined Benefit Plans | Significant Other Observable Inputs (Level 2)
Post-retirement benefit obligation
Fair value of assets	45,433	46,095
Defined Benefit Plans | Cash and Cash Equivalents [Member] | Fair Value Level 1 and Level 2
Post-retirement benefit obligation
Fair value of assets	15,107	10,383
Defined Benefit Plans | Cash and Cash Equivalents [Member] | Quoted Prices In Active Markets for Identical Assets (Level 1)
Post-retirement benefit obligation
Fair value of assets	15,107	10,383
Defined Benefit Plans | U.S. common stocks | Fair Value Level 1 and Level 2
Post-retirement benefit obligation
Fair value of assets	46,830	62,088
Defined Benefit Plans | U.S. common stocks | Quoted Prices In Active Markets for Identical Assets (Level 1)
Post-retirement benefit obligation
Fair value of assets	46,830	62,088
Defined Benefit Plans | International stocks | Fair Value Level 1 and Level 2
Post-retirement benefit obligation
Fair value of assets	9,656	12,310
Defined Benefit Plans | International stocks | Quoted Prices In Active Markets for Identical Assets (Level 1)
Post-retirement benefit obligation
Fair value of assets	9,656	12,310
Defined Benefit Plans | U.S. small cap | Fair Value Level 1 and Level 2
Post-retirement benefit obligation
Fair value of assets	7,222	5,874
Defined Benefit Plans | U.S. small cap | Quoted Prices In Active Markets for Identical Assets (Level 1)
Post-retirement benefit obligation
Fair value of assets	7,222	5,874
Defined Benefit Plans | U.S. small cap | Fair Value Measured at Net Asset Value Per Share [Member]
Post-retirement benefit obligation
Fair value of assets	10,391	11,862
Defined Benefit Plans | U.S. mid cap | Fair Value Level 1 and Level 2
Post-retirement benefit obligation
Fair value of assets	30,752	36,306
Defined Benefit Plans | U.S. mid cap | Quoted Prices In Active Markets for Identical Assets (Level 1)
Post-retirement benefit obligation
Fair value of assets	30,752	36,306
Defined Benefit Plans | U.S. large cap | Fair Value Level 1 and Level 2
Post-retirement benefit obligation
Fair value of assets	51,847	45,427
Defined Benefit Plans | U.S. large cap | Quoted Prices In Active Markets for Identical Assets (Level 1)
Post-retirement benefit obligation
Fair value of assets	51,847	45,427
Defined Benefit Plans | U.S. large cap | Fair Value Measured at Net Asset Value Per Share [Member]
Post-retirement benefit obligation
Fair value of assets	11,268	14,126
Defined Benefit Plans | Emerging markets | Fair Value Level 1 and Level 2
Post-retirement benefit obligation
Fair value of assets	15,954	18,736
Defined Benefit Plans | Emerging markets | Quoted Prices In Active Markets for Identical Assets (Level 1)
Post-retirement benefit obligation
Fair value of assets	15,954	18,736
Defined Benefit Plans | Emerging markets | Fair Value Measured at Net Asset Value Per Share [Member]
Post-retirement benefit obligation
Fair value of assets	8,739	10,669
Defined Benefit Plans | International | Fair Value Level 1 and Level 2
Post-retirement benefit obligation
Fair value of assets	81,398	104,403
Defined Benefit Plans | International | Quoted Prices In Active Markets for Identical Assets (Level 1)
Post-retirement benefit obligation
Fair value of assets	81,398	104,403
Defined Benefit Plans | International | Fair Value Measured at Net Asset Value Per Share [Member]
Post-retirement benefit obligation
Fair value of assets	15,361	19,480
Defined Benefit Plans | U.S. treasury and government agency securities | Fair Value Level 1 and Level 2
Post-retirement benefit obligation
Fair value of assets	25,616	27,192
Defined Benefit Plans | U.S. treasury and government agency securities | Quoted Prices In Active Markets for Identical Assets (Level 1)
Post-retirement benefit obligation
Fair value of assets	25,616	27,190
Defined Benefit Plans | U.S. treasury and government agency securities | Significant Other Observable Inputs (Level 2)
Post-retirement benefit obligation
Fair value of assets		2
Defined Benefit Plans | Corporate and municipal bonds | Fair Value Level 1 and Level 2
Post-retirement benefit obligation
Fair value of assets	36,700	37,069
Defined Benefit Plans | Corporate and municipal bonds | Significant Other Observable Inputs (Level 2)
Post-retirement benefit obligation
Fair value of assets	36,700	37,069
Defined Benefit Plans | Mortgage/asset-backed securities | Fair Value Level 1 and Level 2
Post-retirement benefit obligation
Fair value of assets	8,733	9,024
Defined Benefit Plans | Mortgage/asset-backed securities | Significant Other Observable Inputs (Level 2)
Post-retirement benefit obligation
Fair value of assets	8,733	9,024
Defined Benefit Plans | Mutual funds | Fair Value Level 1 and Level 2
Post-retirement benefit obligation
Fair value of assets	10,763	12,140
Defined Benefit Plans | Mutual funds | Quoted Prices In Active Markets for Identical Assets (Level 1)
Post-retirement benefit obligation
Fair value of assets	10,763	12,140
Defined Benefit Plans | Fixed Income | Fair Value Measured at Net Asset Value Per Share [Member]
Post-retirement benefit obligation
Fair value of assets	103,345	104,282
Defined Benefit Plans | Short-term investments | Fair Value Measured at Net Asset Value Per Share [Member]
Post-retirement benefit obligation
Fair value of assets	10,275	11,037
Post-retirement Benefit Obligations
Post-retirement benefit obligation
Fair value of assets	2,934	2,710
Benefit payments payable	(141)	(225)
Other liabilities	(2)	(1)
Net plan assets	2,791	2,484	$ 2,286
Expected contribution in the next fiscal year	9,500
Benefit payments expected to be paid
2,019	9,526
2,020	9,407
2,021	9,374
2,022	9,183
2,023	8,718
2024-2028	36,862
Post-retirement Benefit Obligations | Fair Value Level 1 and Level 2
Post-retirement benefit obligation
Fair value of assets	1,113	1,150
Post-retirement Benefit Obligations | Quoted Prices In Active Markets for Identical Assets (Level 1)
Post-retirement benefit obligation
Fair value of assets	1,113	1,150
Post-retirement Benefit Obligations | Cash and Cash Equivalents [Member] | Fair Value Level 1 and Level 2
Post-retirement benefit obligation
Fair value of assets	4	4
Post-retirement Benefit Obligations | Cash and Cash Equivalents [Member] | Quoted Prices In Active Markets for Identical Assets (Level 1)
Post-retirement benefit obligation
Fair value of assets	4	4
Post-retirement Benefit Obligations | U.S. common stocks | Fair Value Level 1 and Level 2
Post-retirement benefit obligation
Fair value of assets	240	242
Post-retirement Benefit Obligations | U.S. common stocks | Quoted Prices In Active Markets for Identical Assets (Level 1)
Post-retirement benefit obligation
Fair value of assets	240	242
Post-retirement Benefit Obligations | International stocks | Fair Value Level 1 and Level 2
Post-retirement benefit obligation
Fair value of assets	83	76
Post-retirement Benefit Obligations | International stocks | Quoted Prices In Active Markets for Identical Assets (Level 1)
Post-retirement benefit obligation
Fair value of assets	83	76
Post-retirement Benefit Obligations | U.S. small cap | Fair Value Measured at Net Asset Value Per Share [Member]
Post-retirement benefit obligation
Fair value of assets	123	111
Post-retirement Benefit Obligations | U.S. mid cap | Fair Value Level 1 and Level 2
Post-retirement benefit obligation
Fair value of assets	75	92
Post-retirement Benefit Obligations | U.S. mid cap | Quoted Prices In Active Markets for Identical Assets (Level 1)
Post-retirement benefit obligation
Fair value of assets	75	92
Post-retirement Benefit Obligations | U.S. large cap | Fair Value Level 1 and Level 2
Post-retirement benefit obligation
Fair value of assets	74	73
Post-retirement Benefit Obligations | U.S. large cap | Quoted Prices In Active Markets for Identical Assets (Level 1)
Post-retirement benefit obligation
Fair value of assets	74	73
Post-retirement Benefit Obligations | U.S. large cap | Fair Value Measured at Net Asset Value Per Share [Member]
Post-retirement benefit obligation
Fair value of assets	133	132
Post-retirement Benefit Obligations | Emerging markets | Fair Value Level 1 and Level 2
Post-retirement benefit obligation
Fair value of assets	188	176
Post-retirement Benefit Obligations | Emerging markets | Quoted Prices In Active Markets for Identical Assets (Level 1)
Post-retirement benefit obligation
Fair value of assets	188	176
Post-retirement Benefit Obligations | Emerging markets | Fair Value Measured at Net Asset Value Per Share [Member]
Post-retirement benefit obligation
Fair value of assets	103	100
Post-retirement Benefit Obligations | International | Fair Value Level 1 and Level 2
Post-retirement benefit obligation
Fair value of assets	449	487
Post-retirement Benefit Obligations | International | Quoted Prices In Active Markets for Identical Assets (Level 1)
Post-retirement benefit obligation
Fair value of assets	449	487
Post-retirement Benefit Obligations | International | Fair Value Measured at Net Asset Value Per Share [Member]
Post-retirement benefit obligation
Fair value of assets	181	183
Post-retirement Benefit Obligations | Fixed Income | Fair Value Measured at Net Asset Value Per Share [Member]
Post-retirement benefit obligation
Fair value of assets	1,220	978
Post-retirement Benefit Obligations | Short-term investments | Fair Value Measured at Net Asset Value Per Share [Member]
Post-retirement benefit obligation
Fair value of assets	$ 61	$ 56

PENSION PLANS AND OTHER POST-_5

PENSION PLANS AND OTHER POST-RETIREMENT BENEFITS - Defined Contribution Plans (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Defined Contribution Plan Disclosure [Line Items]
Expense with respect to 401(k) plans	$ 13.7	$ 9.6	$ 6.5
FairPoint acquisition
Defined Contribution Plan Disclosure [Line Items]
Expense with respect to 401(k) plans	$ 7.6	$ 3.8

INCOME TAXES - Income tax expen

INCOME TAXES - Income tax expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Current:
Federal	$ 247	$ 1,055	$ 1,390
State	1,634	145	709
Total current expense	1,881	1,200	2,099
Deferred:
Federal	(17,248)	(141,726)	20,087
State	(8,760)	15,599	776
Total deferred expense (benefit)	(26,008)	(126,127)	20,863
Total income tax expense (benefit)	$ (24,127)	$ (124,927)	$ 22,962
Reconciliation of the provision for income taxes computed at federal statutory rates to the effective rates
Statutory federal income tax rate (as a percent)	21.00%	35.00%	35.00%
State income taxes, net of federal benefit (as a percent)	5.20%	4.10%	2.90%
Transaction costs (as a percent)		(5.80%)
Other permanent differences (as a percent)	(0.90%)	0.20%	0.90%
Change in deferred tax rate (as a percent)	3.70%	(9.10%)	(4.00%)
Change in deferred tax rate - Federal Tax Reform (as a percent)	6.90%	189.40%
Valuation allowance (as a percent)	(2.30%)	(4.30%)	1.60%
Provision to return (as a percent)	0.50%		0.30%
Sale of stock in subsidiary (as a percent)	(1.00%)		19.10%
Non deductible goodwill (as a percent)			3.80%
Acquisition related (as a percent)	(1.30%)
Other (as a percent)	0.50%		0.60%
Total (as a percent)	32.30%	209.50%	60.20%
Non-current deferred tax assets:
Reserve for uncollectible accounts	$ 1,164	$ 1,757
Accrued vacation pay deducted when paid	4,371	4,594
Accrued expenses and deferred revenue	12,848	12,256
Net operating loss carryforwards	81,368	83,278
Pension and postretirement obligations	84,786	91,311
Stock-based compensation	9
Derivative instruments	(825)	(164)
Financing costs	189	199
Tax credit carryforwards	6,411	10,112
Deferred Tax Assets, Gross, Noncurrent	190,321	203,343
Valuation allowance	(9,158)	(8,103)
Net non-current deferred tax assets	181,163	195,240
Non-current deferred tax liabilities:
Goodwill and other intangibles	(82,992)	(99,460)
Basis in investment	(12)	140
Partnership investments	(14,425)	(14,645)
Property, plant and equipment	(267,154)	(285,996)
Other	(4,709)	(4,999)
Total	(369,292)	(404,960)
Net non-current deferred taxes	$ (188,129)	$ (209,720)

INCOME TAXES - Carryforwards (D

INCOME TAXES - Carryforwards (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Income taxes
Corporate tax rate (as a percent)			21.00%	35.00%	35.00%
Non-cash tax benefit estimate		$ (112,900)
Income tax benefit	$ 800		$ 5,200
Deferred tax assets related to net operating loss carryforwards	81,368	83,278	81,368	$ 83,278
Increase in unrecognized tax benefits due to acquisition			600
Unrecognized tax benefits that would impact effective tax rate	4,700	4,100	4,700	4,100
Reconciliation of the unrecognized tax benefits
Balance at the beginning of the period			4,296	64
Additions for tax positions related to FairPoint acquisition			637	4,296
Reduction for tax positions of prior years				(64)
Balance at the end of the period	4,933	4,296	4,933	$ 4,296	$ 64
State
Income taxes
Non-cash tax benefit estimate		10,100
Valuation allowances against state NOL and state tax credit carryforwards that we no longer expect to be able to realize based upon the new tax law		900
Net operating loss carryforwards	727,300		727,300
Deferred tax assets related to net operating loss carryforwards	20,800		20,800
Utilization of net operating loss carryforwards subject to Separate Return Limitation Year	107,900		107,900
Deferred tax assets related to utilization of net operating loss carryforwards subject to Separate Return Limitation Year	7,500		7,500
Utilization of tax credit carryforwards subject to Separate Return Limitation Year	2,100		2,100
Deferred tax assets related to utilization of tax credit carryforwards subject to Separate Return Limitation Year	1,700		1,700
Tax credit carryforwards	8,100		8,100
Deferred tax assets related to tax credit carryforwards	6,400		6,400
Federal
Income taxes
Non-cash tax benefit estimate		$ (123,000)
Net operating loss carryforwards	287,000		287,000
Deferred tax assets related to net operating loss carryforwards	60,300		60,300
Tax credit carryforwards	3,000		3,000
Federal | ETFL
Income taxes
Net operating loss carryforwards	1,200		1,200
Deferred tax assets related to net operating loss carryforwards	$ 300		300
FairPoint Communications, Inc
Income taxes
Increase in unrecognized tax benefits due to acquisition			$ 300

COMMITMENTS AND CONTINGENCIES -

COMMITMENTS AND CONTINGENCIES - Leases (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Commitments and Contingencies
2,019	$ 71,670
2,020	48,442
2,021	27,636
2,022	21,052
2,023	15,581
Thereafter	19,941
Total	204,322
Operating Leases
Rent expense	32,200	$ 23,700	$ 12,700
Capital Leases
Present value of the minimum remaining lease commitments	30,400
Capital lease commitments due and payable within the next 12 months	12,100
Total remaining rental payments	36,000
Operating lease agreements
Commitments and Contingencies
2,019	11,663
2,020	8,640
2,021	5,675
2,022	3,821
2,023	2,282
Thereafter	8,268
Total	40,349
Capital lease agreements
Commitments and Contingencies
2,019	12,118
2,020	7,201
2,021	2,706
2,022	1,968
2,023	981
Thereafter	5,388
Total	30,362
Capital expenditures
Commitments and Contingencies
2,019	5,904
Total	5,904
Service and support agreements
Commitments and Contingencies
2,019	25,886
2,020	20,469
2,021	9,812
2,022	7,474
2,023	6,824
Thereafter	398
Total	70,863
Transport and data connectivity
Commitments and Contingencies
2,019	16,099
2,020	12,132
2,021	9,443
2,022	7,789
2,023	5,494
Thereafter	5,887
Total	56,844
LATEL
Capital Leases
Total remaining rental payments	$ 2,000

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES - Litigation (Details) $ in Millions	Aug. 15, 2018USD ($)	Jul. 17, 2018USD ($)	Mar. 31, 2018USD ($)	Dec. 31, 2018USD ($)subsidiary	Dec. 31, 2016USD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2013USD ($)	Dec. 31, 2018USD ($)	May 31, 2017USD ($)
Litigation and Contingencies
Subsidies revenue			$ 4.9
Number of subsidiaries that received assessment notice | subsidiary				2
Consolidated Communications Enterprise Services Inc. (CCES)
Litigation and Contingencies
Litigation amount accrued				$ 3.2				$ 3.2
Consolidated Communications of Pennsylvania Company LLC (CCPA)
Litigation and Contingencies
Litigation amount accrued				1.4				1.4
Sprint, MCI Communication Services, and Verizon
Litigation and Contingencies
Disputed amount								4.8
Level 3 Communications
Litigation and Contingencies
Disputed amount					$ 2.3
Amount awarded		$ 0.7
Local Switching Support
Litigation and Contingencies
Combined LSS support and settlement of revenues						$ 12.3
Increase in ICC Eligible Recovery support				$ 3.6
Decline in ICC support (as a percent)				5.00%
Subsidies revenue				$ 7.2
Contingent asset				$ 8.7				$ 8.7
FairPoint Communications, Inc | Level 3 Communications
Litigation and Contingencies
Amount awarded	$ 1.2
Assessment by Commonwealth of Pennsylvania Department of Revenue | Maximum
Litigation and Contingencies
Potential liability amount guaranteed									$ 5
Assessment by Commonwealth of Pennsylvania Department of Revenue | Consolidated Communications Enterprise Services Inc. (CCES)
Litigation and Contingencies
Total additional tax liability calculated by the auditors							$ 6.2
Assessment by Commonwealth of Pennsylvania Department of Revenue | Consolidated Communications of Pennsylvania Company LLC (CCPA)
Litigation and Contingencies
Total additional tax liability calculated by the auditors							$ 7.5

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details) $ in Millions	12 Months Ended
	Dec. 31, 2018USD ($)leasebuildingitem	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)
Agracel | Richard A. Lumpkin
Related party transactions
Percentage of beneficial ownership	37.00%	37.00%
LATEL | Richard A. Lumpkin
Related party transactions
Percentage of beneficial ownership	68.50%	68.50%
LATEL | Agracel
Related party transactions
Ownership percentage	50.00%
LATEL
Related party transactions
Number of capital leases | lease	3
Number of buildings leased under capital leases | building	3
Number of options to extend term of capital lease | item	2
Extended period of capital leases	5 years
Rental payments to be made over the terms of capital leases	$ 7.9
Capital leases, carrying value	1.7	$ 2.2
Interest expense related to capital leases	0.3	0.3	$ 0.4
Amortization expense related to capitalized leases	$ 0.4	$ 0.4	$ 0.4

RELATED PARTY TRANSACTIONS - Lo

RELATED PARTY TRANSACTIONS - Long Term Debt (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Sep. 30, 2014
First Mid Illinois
Related party transactions
Revenue	$ 0.9	$ 0.7	$ 0.7
Related parties | Senior Notes 6.50 Percent Due 2022
Related party transactions
Notes payable from related parties				$ 5
Interest paid to related parties	$ 0.3	$ 0.3	$ 0.3

QUARTERLY FINANCIAL INFORMATI_3

QUARTERLY FINANCIAL INFORMATION (UNAUDITED) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Jul. 03, 2017
Net revenues	$ 344,750	$ 348,064	$ 350,221	$ 356,039	$ 356,360	$ 363,329	$ 169,950	$ 169,935	$ 1,399,074	$ 1,059,574	$ 743,177
Operating income (loss)	3,555	748	5,427	9,239	6,972	(7,691)	20,552	19,079	18,969	38,912	89,411
Net income (loss) attributable to common stockholders	$ (13,979)	$ (14,914)	$ (10,643)	$ (11,298)	$ 99,806	$ (28,448)	$ (2,728)	$ (3,685)	$ (50,834)	$ 64,945	$ 14,931
Basic and diluted earnings (loss) per share	$ (0.20)	$ (0.21)	$ (0.15)	$ (0.16)	$ 1.41	$ (0.41)	$ (0.06)	$ (0.07)	$ (0.73)	$ 1.07	$ 0.29
Increase in operating income		$ 400	$ 300	$ 400
Severance costs incurred	$ 5,700	$ 4,000
Subsidies revenue				$ 4,900
Non-cash tax benefit estimate					$ (112,900)
Transaction costs									$ 1,960	$ 33,650	$ 1,214
Incremental Term Loan Facility
Aggregate principal amount												$ 935,000
FairPoint Communications, Inc
Transaction costs					$ 2,800	$ 27,000	$ 1,700	$ 1,500
FairPoint Communications, Inc | Incremental Term Loan Facility
Aggregate principal amount											$ 935,000
Ticking fees and the amortization of commitment fees						$ 6,200	$ 13,300	$ 11,400

CONDENSED CONSOLIDATING FINAN_3

CONDENSED CONSOLIDATING FINANCIAL INFORMATION - Balance Sheets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents	$ 9,599	$ 15,657
Accounts receivable, net	133,136	121,528
Income taxes receivable	11,072	21,846
Prepaid expenses and other current assets	44,336	33,318
Assets held for sale		21,310
Total current assets	198,143	213,659
Property, plant and equipment, net	1,927,126	2,037,606
Intangibles and other assets:
Investments	110,853	108,858
Goodwill	1,035,274	1,038,032
Customer relationships, net	228,959	293,300
Other intangible assets	11,483	13,483
Other assets	23,423	14,188
Total assets	3,535,261	3,719,126
Current liabilities:
Accounts payable	32,502	24,143
Advance billings and customer deposits	47,724	42,526
Dividends payable	27,579	27,418
Accrued compensation	64,459	49,770
Accrued interest	9,232	9,343
Accrued expense	71,650	72,041
Current portion of long term debt and capital lease obligations	30,468	29,696
Liabilities held for sale		1,003
Total current liabilities	283,614	255,940
Long-term debt and capital lease obligations	2,303,585	2,311,514
Deferred income taxes	188,129	209,720
Pension and postretirement benefit obligations	314,134	334,193
Other long-term liabilities	30,145	33,817
Total liabilities	3,119,607	3,145,184
Shareholders' equity:
Common Stock	712	708
Other shareholders' equity	409,024	567,579
Total Consolidated Communications Holdings, Inc. shareholders' equity	409,736	568,287
Noncontrolling interest	5,918	5,655
Total shareholders' equity	415,654	573,942	$ 176,255	$ 250,699
Total liabilities and shareholders' equity	3,535,261	3,719,126
Eliminations
Current assets:
Cash and cash equivalents	(18)
Accounts receivable, net	(37)	(476)
Total current assets	(55)	(476)
Intangibles and other assets:
Investments in subsidiaries	(7,109,038)	(5,812,353)
Advances due to/from affiliates, net	(3,237,287)	(3,089,637)
Deferred income taxes	(76,758)	(21,244)
Other assets	3,011
Total assets	(10,420,127)	(8,923,710)
Current liabilities:
Accrued expense	(55)	(476)
Total current liabilities	(55)	(476)
Advances due to/from affiliates, net	(3,237,287)	(3,089,637)
Deferred income taxes	(73,747)	(21,244)
Total liabilities	(3,311,089)	(3,111,357)
Shareholders' equity:
Common Stock	(47,411)	(47,411)
Other shareholders' equity	(7,061,627)	(5,764,942)
Total Consolidated Communications Holdings, Inc. shareholders' equity	(7,109,038)	(5,812,353)
Total shareholders' equity	(7,109,038)	(5,812,353)
Total liabilities and shareholders' equity	(10,420,127)	(8,923,710)
Parent | Reportable legal entity
Current assets:
Income taxes receivable	10,272	20,275
Total current assets	10,272	20,275
Intangibles and other assets:
Investments in subsidiaries	3,587,612	3,643,930
Deferred income taxes	76,758	21,244
Total assets	3,674,642	3,685,449
Current liabilities:
Dividends payable	27,579	27,418
Accrued expense	40	107
Total current liabilities	27,619	27,525
Advances due to/from affiliates, net	3,237,287	3,089,637
Total liabilities	3,264,906	3,117,162
Shareholders' equity:
Common Stock	712	708
Other shareholders' equity	409,024	567,579
Total Consolidated Communications Holdings, Inc. shareholders' equity	409,736	568,287
Total shareholders' equity	409,736	568,287
Total liabilities and shareholders' equity	3,674,642	3,685,449
Subsidiary Issuer | Reportable legal entity
Current assets:
Cash and cash equivalents	9,616	8,919
Prepaid expenses and other current assets	2,465
Total current assets	12,081	8,919
Intangibles and other assets:
Investments	8,673	8,495
Investments in subsidiaries	3,505,477	2,133,049
Advances due to/from affiliates, net	2,379,079	2,441,690
Other assets	1,524	1,307
Total assets	5,906,834	4,593,460
Current liabilities:
Accrued interest	8,430	8,824
Accrued expense	37	504
Current portion of long term debt and capital lease obligations	18,350	18,350
Total current liabilities	26,817	27,678
Long-term debt and capital lease obligations	2,285,341	2,298,970
Deferred income taxes	122	750
Other long-term liabilities	6,942	1,761
Total liabilities	2,319,222	2,329,159
Shareholders' equity:
Other shareholders' equity	3,587,612	2,264,301
Total Consolidated Communications Holdings, Inc. shareholders' equity	3,587,612	2,264,301
Total shareholders' equity	3,587,612	2,264,301
Total liabilities and shareholders' equity	$ 5,906,834	4,593,460
Guarantors
Condensed Consolidating Balance Sheet
Ownership interest (as a percent)	100.00%
Guarantors | Reportable legal entity
Current assets:
Cash and cash equivalents		6,738
Accounts receivable, net	$ 122,743	114,303
Income taxes receivable	790	1,571
Prepaid expenses and other current assets	41,547	33,188
Total current assets	165,080	155,800
Property, plant and equipment, net	1,861,009	1,972,190
Intangibles and other assets:
Investments	102,180	100,363
Investments in subsidiaries	15,949	35,374
Goodwill	969,093	971,851
Customer relationships, net	228,959	293,300
Other intangible assets	2,396	4,396
Advances due to/from affiliates, net	760,310	555,332
Other assets	18,237	12,844
Total assets	4,123,213	4,101,450
Current liabilities:
Accounts payable	32,502	24,143
Advance billings and customer deposits	46,316	41,026
Accrued compensation	63,688	48,795
Accrued interest	802	519
Accrued expense	70,365	70,976
Current portion of long term debt and capital lease obligations	11,968	11,150
Total current liabilities	225,641	196,609
Long-term debt and capital lease obligations	17,988	12,139
Deferred income taxes	239,880	209,116
Pension and postretirement benefit obligations	295,815	315,129
Other long-term liabilities	22,305	31,030
Total liabilities	801,629	764,023
Shareholders' equity:
Common Stock	17,411	17,411
Other shareholders' equity	3,298,255	3,314,361
Total Consolidated Communications Holdings, Inc. shareholders' equity	3,315,666	3,331,772
Noncontrolling interest	5,918	5,655
Total shareholders' equity	3,321,584	3,337,427
Total liabilities and shareholders' equity	4,123,213	4,101,450
Non-Guarantors | Reportable legal entity
Current assets:
Cash and cash equivalents	1
Accounts receivable, net	10,430	7,701
Income taxes receivable	10
Prepaid expenses and other current assets	324	130
Assets held for sale		21,310
Total current assets	10,765	29,141
Property, plant and equipment, net	66,117	65,416
Intangibles and other assets:
Goodwill	66,181	66,181
Other intangible assets	9,087	9,087
Advances due to/from affiliates, net	97,898	92,615
Other assets	651	37
Total assets	250,699	262,477
Current liabilities:
Advance billings and customer deposits	1,408	1,500
Accrued compensation	771	975
Accrued expense	1,263	930
Current portion of long term debt and capital lease obligations	150	196
Liabilities held for sale		1,003
Total current liabilities	3,592	4,604
Long-term debt and capital lease obligations	256	405
Deferred income taxes	21,874	21,098
Pension and postretirement benefit obligations	18,319	19,064
Other long-term liabilities	898	1,026
Total liabilities	44,939	46,197
Shareholders' equity:
Common Stock	30,000	30,000
Other shareholders' equity	175,760	186,280
Total Consolidated Communications Holdings, Inc. shareholders' equity	205,760	216,280
Total shareholders' equity	205,760	216,280
Total liabilities and shareholders' equity	$ 250,699	$ 262,477

CONDENSED CONSOLIDATING FINAN_4

CONDENSED CONSOLIDATING FINANCIAL INFORMATION - Operations (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
CONDENSED CONSOLIDATING FINANCIAL INFORMATION
Total operating revenues	$ 344,750	$ 348,064	$ 350,221	$ 356,039	$ 356,360	$ 363,329	$ 169,950	$ 169,935	$ 1,399,074	$ 1,059,574	$ 743,177
Operating expenses:
Cost of services and products (exclusive of depreciation and amortization)									611,872	445,998	321,412
Selling, general and administrative expenses									333,605	249,141	156,520
Acquisition and other transaction costs									1,960	33,650	1,214
Loss on impairment											610
Depreciation and amortization									432,668	291,873	174,010
Income from operations	3,555	748	5,427	9,239	6,972	(7,691)	20,552	19,079	18,969	38,912	89,411
Other income (expense):
Interest expense, net of interest income									(134,578)	(129,786)	(76,826)
Loss on extinguishment of debt											(6,559)
Investment income									39,596	31,749	32,972
Other, net									1,315	(503)	(840)
Income (loss) before income taxes									(74,698)	(59,628)	38,158
Income tax expense (benefit)									(24,127)	(124,927)	22,962
Net income (loss)									(50,571)	65,299	15,196
Less: net income (loss) attributable to noncontrolling interest									263	354	265
Net income (loss) attributable to common shareholders	$ (13,979)	$ (14,914)	$ (10,643)	$ (11,298)	$ 99,806	$ (28,448)	$ (2,728)	$ (3,685)	(50,834)	64,945	14,931
Total comprehensive income (loss) attributable to common shareholders									(55,963)	64,139	3,353
Eliminations
CONDENSED CONSOLIDATING FINANCIAL INFORMATION
Total operating revenues									(12,541)	(12,707)	(13,150)
Operating expenses:
Cost of services and products (exclusive of depreciation and amortization)									(12,096)	(12,276)	(12,721)
Selling, general and administrative expenses									(445)	(431)	(429)
Other income (expense):
Equity in earnings of subsidiaries, net									28,190	(212,796)	(115,519)
Income (loss) before income taxes									28,190	(212,796)	(115,519)
Net income (loss)									28,190	(212,796)	(115,519)
Net income (loss) attributable to common shareholders									28,190	(212,796)	(115,519)
Total comprehensive income (loss) attributable to common shareholders									40,369	(216,301)	(91,816)
Parent | Reportable legal entity
Operating expenses:
Selling, general and administrative expenses									4,087	1,924	3,331
Acquisition and other transaction costs									1,960	33,650	1,214
Income from operations									(6,047)	(35,574)	(4,545)
Other income (expense):
Interest expense, net of interest income									(103)	(12)	46
Intercompany interest income (expense)											(63,773)
Equity in earnings of subsidiaries, net									(42,181)	101,863	58,208
Other, net									7
Income (loss) before income taxes									(48,324)	66,277	(10,064)
Income tax expense (benefit)									2,510	1,332	(24,995)
Net income (loss)									(50,834)	64,945	14,931
Net income (loss) attributable to common shareholders									(50,834)	64,945	14,931
Total comprehensive income (loss) attributable to common shareholders									(55,963)	64,139	3,353
Subsidiary Issuer | Reportable legal entity
CONDENSED CONSOLIDATING FINANCIAL INFORMATION
Total operating revenues											(15)
Operating expenses:
Selling, general and administrative expenses										30	7
Income from operations										(30)	(22)
Other income (expense):
Interest expense, net of interest income									(136,378)	(128,737)	(76,213)
Intercompany interest income (expense)									58,908	58,909	97,102
Loss on extinguishment of debt											(6,559)
Investment income									178	157	166
Equity in earnings of subsidiaries, net									8,858	109,015	56,600
Other, net										3	(328)
Income (loss) before income taxes									(68,434)	39,317	70,746
Income tax expense (benefit)									(26,253)	(27,610)	12,538
Net income (loss)									(42,181)	66,927	58,208
Net income (loss) attributable to common shareholders									(42,181)	66,927	58,208
Total comprehensive income (loss) attributable to common shareholders									(47,310)	71,746	46,630
Guarantors | Reportable legal entity
CONDENSED CONSOLIDATING FINANCIAL INFORMATION
Total operating revenues									1,356,074	1,013,505	697,557
Operating expenses:
Cost of services and products (exclusive of depreciation and amortization)									607,582	447,029	321,936
Selling, general and administrative expenses									317,289	234,198	141,029
Loss on impairment											610
Depreciation and amortization									422,704	280,843	164,577
Income from operations									8,499	51,435	69,405
Other income (expense):
Interest expense, net of interest income									1,785	(1,183)	(694)
Intercompany interest income (expense)									(58,844)	(58,827)	(34,846)
Investment income									39,418	31,592	32,806
Equity in earnings of subsidiaries, net									5,133	1,918	711
Other, net									1,067	(694)	(202)
Income (loss) before income taxes									(2,942)	24,241	67,180
Income tax expense (benefit)									(5,784)	(97,667)	25,807
Net income (loss)									2,842	121,908	41,373
Less: net income (loss) attributable to noncontrolling interest									263	354	265
Net income (loss) attributable to common shareholders									2,579	121,554	41,108
Total comprehensive income (loss) attributable to common shareholders									(3,545)	119,174	30,442
Non-Guarantors | Reportable legal entity
CONDENSED CONSOLIDATING FINANCIAL INFORMATION
Total operating revenues									55,541	58,776	58,785
Operating expenses:
Cost of services and products (exclusive of depreciation and amortization)									16,386	11,245	12,197
Selling, general and administrative expenses									12,674	13,420	12,582
Depreciation and amortization									9,964	11,030	9,433
Income from operations									16,517	23,081	24,573
Other income (expense):
Interest expense, net of interest income									118	146	35
Intercompany interest income (expense)									(64)	(82)	1,517
Other, net									241	188	(310)
Income (loss) before income taxes									16,812	23,333	25,815
Income tax expense (benefit)									5,400	(982)	9,612
Net income (loss)									11,412	24,315	16,203
Net income (loss) attributable to common shareholders									11,412	24,315	16,203
Total comprehensive income (loss) attributable to common shareholders									$ 10,486	$ 25,381	$ 14,744

CONDENSED CONSOLIDATING FINAN_5

CONDENSED CONSOLIDATING FINANCIAL INFORMATION - Cash Flows (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Cash flows from operating activities:
Net cash (used in) provided by operating activities	$ 357,321	$ 210,027	$ 218,233
Cash flows from investing activities:
Business acquisition, net of cash acquired		(862,385)	(13,422)
Purchases of property, plant and equipment	(244,816)	(181,185)	(125,192)
Proceeds from sale of assets	2,125	859	208
Proceeds from business dispositions	20,999		30,119
Proceeds from sale of investments	233
Net cash used in investing activities	(221,459)	(1,042,711)	(108,287)
Cash flows from financing activities:
Proceeds from issuance of long-term debt	189,588	1,052,325	936,750
Payment of capital lease obligations	(12,755)	(7,933)	(2,885)
Payment on long-term debt	(207,938)	(111,337)	(943,050)
Payment of financing costs		(16,732)	(9,912)
Share repurchases for minimum tax withholding	(593)	(571)	(1,231)
Dividends on common stock	(110,222)	(94,138)	(78,419)
Other		(350)
Net cash provided (used in) financing activities	(141,920)	821,264	(98,747)
Change in cash and cash equivalents	(6,058)	(11,420)	11,199
Cash and cash equivalents at beginning of period	15,657	27,077	15,878
Cash and cash equivalents at end of period	9,599	15,657	27,077
Parent
Cash flows from operating activities:
Net cash (used in) provided by operating activities	2,323	(23,237)	(23,634)
Cash flows from investing activities:
Business acquisition, net of cash acquired		(862,385)	(13,422)
Proceeds from business dispositions	20,999		30,119
Net cash used in investing activities	20,999	(862,385)	16,697
Cash flows from financing activities:
Share repurchases for minimum tax withholding	(593)	(571)	(1,231)
Dividends on common stock	(110,222)	(94,138)	(78,419)
Transactions with affiliates, net	87,493	980,681	86,587
Other		(350)
Net cash provided (used in) financing activities	(23,322)	885,622	6,937
Subsidiary Issuer
Cash flows from operating activities:
Net cash (used in) provided by operating activities	(43,781)	(25,625)	13,315
Cash flows from financing activities:
Proceeds from issuance of long-term debt	189,588	1,052,325	936,750
Payment on long-term debt	(207,938)	(111,337)	(943,050)
Payment of financing costs		(16,732)	(9,912)
Transactions with affiliates, net	62,828	(916,776)	24,084
Net cash provided (used in) financing activities	44,478	7,480	7,872
Change in cash and cash equivalents	697	(18,145)	21,187
Cash and cash equivalents at beginning of period	8,919	27,064	5,877
Cash and cash equivalents at end of period	9,616	8,919	27,064
Guarantors
Cash flows from operating activities:
Net cash (used in) provided by operating activities	388,930	235,810	200,098
Cash flows from investing activities:
Purchases of property, plant and equipment	(235,147)	(167,187)	(111,389)
Proceeds from sale of assets	1,688	829	198
Proceeds from sale of investments	233
Net cash used in investing activities	(233,226)	(166,358)	(111,191)
Cash flows from financing activities:
Payment of capital lease obligations	(12,559)	(7,746)	(2,743)
Transactions with affiliates, net	(149,901)	(54,981)	(93,780)
Net cash provided (used in) financing activities	(162,460)	(62,727)	(96,523)
Change in cash and cash equivalents	(6,756)	6,725	(7,616)
Cash and cash equivalents at beginning of period	6,738	13	7,629
Cash and cash equivalents at end of period	(18)	6,738	13
Non-Guarantors
Cash flows from operating activities:
Net cash (used in) provided by operating activities	9,849	23,079	28,454
Cash flows from investing activities:
Purchases of property, plant and equipment	(9,669)	(13,998)	(13,803)
Proceeds from sale of assets	437	30	10
Net cash used in investing activities	(9,232)	(13,968)	(13,793)
Cash flows from financing activities:
Payment of capital lease obligations	(196)	(187)	(142)
Transactions with affiliates, net	(420)	(8,924)	(16,891)
Net cash provided (used in) financing activities	(616)	$ (9,111)	(17,033)
Change in cash and cash equivalents	1		(2,372)
Cash and cash equivalents at beginning of period			$ 2,372
Cash and cash equivalents at end of period	$ 1