Document_And_Entity_Informatio
Document And Entity Information (USD $) | 12 Months Ended | |
Jun. 30, 2014 | Dec. 31, 2012 | |
Document And Entity Information [Abstract] | ' | ' |
Document Type | '10-K | ' |
Amendment Flag | 'false | ' |
Document Period End Date | 30-Jun-14 | ' |
Document Fiscal Year Focus | '2014 | ' |
Document Fiscal Period Focus | 'FY | ' |
Entity Registrant Name | 'Zayo Group LLC | ' |
Entity Central Index Key | '0001502756 | ' |
Current Fiscal Year End Date | '--06-30 | ' |
Entity Filer Category | 'Non-accelerated Filer | ' |
Entity Well-known Seasoned Issuer | 'No | ' |
Entity Voluntary Filers | 'No | ' |
Entity Current Reporting Status | 'Yes | ' |
Entity Public Float | ' | $0 |
Entity Common Stock, Shares Outstanding | 0 | ' |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Jun. 30, 2014 | Jun. 30, 2013 |
In Thousands, unless otherwise specified | ||
Current assets | ' | ' |
Cash and cash equivalents | $292,614 | $88,148 |
Trade receivables, net of allowance of $3,412 and $3,689 as of June 30, 2014 and 2013, respectively | 55,007 | 67,811 |
Due from related-parties | 852 | 622 |
Prepaid expenses | 25,484 | 19,188 |
Deferred income taxes, net | 157,452 | 90,356 |
Other assets | 2,399 | 2,851 |
Total current assets | 533,808 | 268,976 |
Property and equipment, net | 2,808,309 | 2,411,220 |
Intangible assets, net | 689,024 | 636,258 |
Goodwill | 846,462 | 682,775 |
Debt issuance costs, net | 89,380 | 99,098 |
Deferred income taxes, net | 0 | 280 |
Other assets | 37,604 | 29,284 |
Total assets | 5,004,587 | 4,127,891 |
Current liabilities | ' | ' |
Current portion of long-term debt | 20,450 | 16,200 |
Accounts payable | 26,956 | 33,477 |
Accrued liabilities | 158,516 | 115,932 |
Accrued interest | 57,059 | 55,048 |
Capital lease obligations, current | 2,415 | 6,600 |
Deferred revenue, current | 75,213 | 35,977 |
Total current liabilities | 340,609 | 263,234 |
Long-term debt, less current portion | 3,219,673 | 2,814,505 |
Capital lease obligations, non-current | 22,856 | 6,567 |
Deferred revenue, non-current | 496,895 | 326,180 |
Stock-based compensation liability | 391,305 | 158,520 |
Deferred income taxes, net | 138,331 | 5,560 |
Other long-term liabilities | 22,327 | 19,892 |
Total liabilities | 4,631,996 | 3,594,458 |
Commitments and contingencies (Note 15) | ' | ' |
Member's equity | ' | ' |
Member's interest | 704,387 | 703,963 |
Accumulated other comprehensive loss | 14,456 | -4,755 |
Accumulated deficit | -346,252 | -165,775 |
Total member's equity | 372,591 | 533,433 |
Total liabilities and member's equity | $5,004,587 | $4,127,891 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Jun. 30, 2014 | Jun. 30, 2013 |
In Thousands, unless otherwise specified | ||
Statement of Financial Position [Abstract] | ' | ' |
Trade receivables allowances | $3,412 | $3,689 |
Consolidated_Statements_Of_Ope
Consolidated Statements Of Operations (USD $) | 3 Months Ended | 12 Months Ended | |||||||||||||||||||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012 | ||||||||||
Income Statement [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||
Revenue | $290,928 | [1] | $278,038 | [2] | $273,599 | [3],[4] | $264,345 | [5] | $258,170 | [6] | $253,148 | [7] | $245,265 | [8],[9] | $231,502 | [10] | $1,106,910 | $988,085 | $382,043 | ||
Operating costs and expenses | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||
Operating costs, excluding depreciation and amortization | 36,223 | [1] | 35,358 | [2] | 35,027 | [3],[4] | 34,917 | [5] | 33,860 | [6] | 35,130 | [7] | 34,888 | [8],[9] | 32,717 | [10] | 141,525 | 136,595 | 82,581 | ||
Selling, general and administrative expenses, excluding stock-based compensation | 87,861 | [1],[11] | 77,734 | [2] | 77,538 | [3],[4] | 74,732 | [5] | 83,744 | [12],[6] | 70,419 | [7] | 73,027 | [8],[9] | 85,792 | [10] | 317,865 | 312,982 | 111,695 | ||
Stock-based compensation | 89,027 | [1] | 64,964 | [2] | 56,686 | [3],[4] | 42,684 | [5] | 37,669 | [6] | 23,453 | [7] | 33,445 | [8],[9] | 10,481 | [10] | 253,361 | 105,048 | 26,253 | ||
Selling, general and administrative expenses | 176,888 | [1] | 142,698 | [2] | 134,224 | [3],[4] | 117,416 | [5] | 121,413 | [6] | 93,872 | [7] | 106,472 | [8],[9] | 96,273 | [10] | 571,226 | 418,030 | 137,948 | ||
Depreciation and amortization | 90,872 | [1] | 83,703 | [2] | 81,257 | [3],[4] | 80,575 | [5] | 80,191 | [6] | 79,473 | [7] | 83,467 | [8],[9] | 79,549 | [10] | 336,407 | 322,680 | 84,961 | ||
Total operating costs and expenses | 303,983 | [1] | 261,759 | [2] | 250,508 | [3],[4] | 232,908 | [5] | 235,464 | [6] | 208,475 | [7] | 224,827 | [8],[9] | 208,539 | [10] | 1,049,158 | 877,305 | 305,490 | ||
Operating income | -13,055 | [1] | 16,279 | [2] | 23,091 | [3],[4] | 31,437 | [5] | 22,706 | [6] | 44,673 | [7] | 20,438 | [8],[9] | 22,963 | [10] | 57,752 | 110,780 | 76,553 | ||
Other expenses | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||
Interest expense | -52,603 | [1] | -49,131 | [2] | -50,277 | [3],[4] | -51,497 | [5] | -37,656 | [13],[6] | -49,618 | [13],[7] | -52,635 | [13],[8],[9] | -62,555 | [10],[13] | -203,508 | -202,464 | [13] | -50,720 | |
Loss on extinguishment of debt | 0 | [1],[11] | 0 | [11],[2] | -1,911 | [11],[3],[4] | 0 | [11],[5] | 0 | [14],[6] | -6,571 | [14],[7] | -5,707 | [14],[8],[9] | -64,975 | [10],[14] | -1,911 | [11] | -77,253 | [14] | 0 |
Impairment of cost method investment | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | -2,248 | ||||||||||
Other income, net | 3,773 | [1] | 125 | [2] | 479 | [3],[4] | 662 | [5] | 25 | [6] | -508 | [7] | 224 | [8],[9] | 585 | [10] | 5,039 | 326 | 123 | ||
Total other expense, net | -48,830 | [1] | -49,006 | [2] | -51,709 | [3],[4] | -50,835 | [5] | -37,631 | [6] | -56,697 | [7] | -58,118 | [8],[9] | -126,945 | [10] | -200,380 | -279,391 | -52,845 | ||
(Loss)/earnings from continuing operations before provision for income taxes | -61,885 | [1] | -32,727 | [2] | -28,618 | [3],[4] | -19,398 | [5] | -14,925 | [6] | -12,024 | [7] | -37,680 | [8],[9] | -103,982 | [10] | -142,628 | -168,611 | 23,708 | ||
Provision/(benefit) for income taxes | 10,291 | [1] | 11,327 | [2] | 7,697 | [3],[4] | 8,534 | [5] | 9,461 | [6] | 6,519 | [7] | -3,438 | [8],[9] | -36,588 | [10] | 37,849 | -24,046 | 29,557 | ||
(Loss)/Income from continuing operations | -72,176 | [1] | -44,054 | [2] | -36,315 | [3],[4] | -27,932 | [5] | -24,386 | [6] | -18,543 | [7] | -34,242 | [8],[9] | -67,394 | [10] | -180,477 | -144,565 | -5,849 | ||
Earnings from discontinued operations, net of income taxes | 0 | [1],[15] | 0 | [15],[2] | 0 | [15],[3],[4] | 0 | [15],[5] | 0 | [15],[6] | 0 | [15],[7] | 0 | [15],[8],[9] | 1,808 | [10],[15] | 0 | [15] | 1,808 | [15] | 0 |
Net (loss)/earnings | ($72,176) | [1] | ($44,054) | [2] | ($36,315) | [3],[4] | ($27,932) | [5] | ($24,386) | [6] | ($18,543) | [7] | ($34,242) | [8],[9] | ($65,586) | [10] | ($180,477) | ($142,757) | ($5,849) | ||
[1] | The Company realized an increase in revenue and operating expenses beginning May 16, 2014 as a result of the acquisition of Geo. | ||||||||||||||||||||
[2] | The Company realized an increase in revenue and operating expenses beginning March 4, 2014 as a result of the acquisition of CoreXchange. | ||||||||||||||||||||
[3] | The Company realized an increase in revenue and operating expenses beginning October 1, 2013 as a result of the acquisition of Access. | ||||||||||||||||||||
[4] | The Company realized an increase in revenue and operating expenses beginning October 1, 2013 as a result of the acquisition of Fiberlink. | ||||||||||||||||||||
[5] | The Company realized an increase in revenue and operating expenses beginning August 1, 2013 as a result of the acquisition of Corelink. | ||||||||||||||||||||
[6] | The Company realized an increase in revenue and operating expenses beginning June 1, 2013 as a result of the acquisition of Core NAP. | ||||||||||||||||||||
[7] | The Company realized an increase in revenue and operating expenses beginning December 31, 2012 as a result of the acquisition of Litecast. | ||||||||||||||||||||
[8] | The Company realized an increase in revenue and operating expenses beginning October 1, 2012 as a result of the acquisition of USCarrier. | ||||||||||||||||||||
[9] | The Company realized an increase in revenue and operating expenses beginning December 14, 2012 as a result of the acquisition of First Telecom. | ||||||||||||||||||||
[10] | The Company realized an increase in revenue and operating expenses beginning August 31, 2012 as a result of the acquisition of FiberGate. | ||||||||||||||||||||
[11] | The Company completed a debt refinancing transaction during the second quarter of Fiscal 2014, resulting in a loss on debt extinguishment for that respective period. See Note 9bLong-Term Debt. | ||||||||||||||||||||
[12] | During the quarter ended June 30, 2013, the Company recognized a charge of $10,197 for lease termination costs related to exit activities initiated for unutilized space associated with leased office and technical facilities b see Note 15 b Commitments and Contingencies. | ||||||||||||||||||||
[13] | The Company realized a decrease in interest expense during the second and third quarters of 2013 due to financing transactions completed to lower its interest rates on its variable rate debt. During the fourth quarter of 2013, favorable movements in interest rates increased the fair value of the Company's interest rate swaps, resulting in a decrease in the Company's interest expense - see Note 9 - Long-Term Debt. | ||||||||||||||||||||
[14] | The Company completed debt refinancing transactions during the first, second and third quarters of Fiscal 2013, resulting in a loss on debt extinguishment in each respective period. See Note 9 - Long-Term Debt. | ||||||||||||||||||||
[15] | The Company spun-off its ZPS operating unit on September 30, 2012 - see Note 4 - Spin-Off of Business. |
Consolidated_Statements_Of_Com
Consolidated Statements Of Comprehensive Loss (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012 |
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract] | ' | ' | ' |
Net loss | ($180,477) | ($142,757) | ($5,849) |
Foreign currency translation adjustments | 19,211 | -4,755 | 0 |
Comprehensive loss | ($161,266) | ($147,512) | ($5,849) |
Consolidated_Statement_Of_Memb
Consolidated Statement Of Member's Equity (USD $) | Total | Member's Interest [Member] | Accumulated Other Comprehensive Loss [Member] | Accumulated Deficit [Member] | VoIP 360, Inc. [Member] | VoIP 360, Inc. [Member] | VoIP 360, Inc. [Member] | VoIP 360, Inc. [Member] | Arialink [Member] | Arialink [Member] | Arialink [Member] | Arialink [Member] | Zayo Professional Services [Member] | Zayo Professional Services [Member] | Zayo Professional Services [Member] | Zayo Professional Services [Member] |
In Thousands | Member's Interest [Member] | Accumulated Other Comprehensive Loss [Member] | Accumulated Deficit [Member] | Member's Interest [Member] | Accumulated Other Comprehensive Loss [Member] | Accumulated Deficit [Member] | Member's Interest [Member] | Accumulated Other Comprehensive Loss [Member] | Accumulated Deficit [Member] | |||||||
Balance at Jun. 30, 2011 | $228,264 | $245,433 | $0 | ($17,169) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Capital contributed | 134,796 | 134,796 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Non-cash settlements with Parent, net | 21,219 | 21,219 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Preferred stock-based compensation | 871 | 871 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Spin-off | ' | ' | ' | ' | -11,654 | -11,654 | 0 | 0 | -1,752 | -1,752 | 0 | 0 | ' | ' | ' | ' |
Return of capital | -46 | -46 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Foreign currency translation adjustments | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net loss | -5,849 | 0 | 0 | -5,849 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Balance at Jun. 30, 2012 | 365,849 | 388,867 | 0 | -23,018 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Capital contributed | 345,013 | 345,013 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Non-cash settlements with Parent, net | -4,111 | -4,111 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Preferred stock-based compensation | 853 | 853 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Spin-off | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -26,659 | -26,659 | 0 | 0 |
Foreign currency translation adjustments | -4,755 | 0 | -4,755 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net loss | -142,757 | 0 | 0 | -142,757 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Balance at Jun. 30, 2013 | 533,433 | 703,963 | -4,755 | -165,775 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash Settlements With Parent Net | -1,203 | -1,203 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock Issued During Period, Value, Acquisitions | 1,637 | 1,637 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Balance at Mar. 31, 2014 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Balance at Jun. 30, 2013 | 533,433 | 703,963 | -4,755 | -165,775 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Capital contributed | 5,605 | 5,605 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Non-cash settlements with Parent, net | -6,046 | -6,046 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Preferred stock-based compensation | 431 | 431 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Foreign currency translation adjustments | 19,211 | 0 | 19,211 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net loss | -180,477 | 0 | 0 | -180,477 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Balance at Jun. 30, 2014 | $372,591 | $704,387 | $14,456 | ($346,252) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Consolidated_Statements_Of_Cas
Consolidated Statements Of Cash Flows (USD $) | 12 Months Ended | ||||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012 | ||
Cash flows from operating activities | ' | ' | ' | ||
Net loss | ($180,477) | ($142,757) | ($5,849) | ||
Earnings from discontinued operations | 0 | [1] | 1,808 | [1] | 0 |
Loss from continuing operations | -180,477 | -144,565 | -5,849 | ||
Adjustments to reconcile net loss to net cash provided by operating activities of continuing operations | ' | ' | ' | ||
Depreciation and amortization | 336,407 | 322,680 | 84,961 | ||
Loss on extinguishment of debt | 1,911 | [2] | 77,253 | [3] | 0 |
Loss on disposal of property and equipment | 0 | 0 | 32 | ||
Provision for bad debts | 1,864 | 2,121 | 729 | ||
Non-cash interest expense | 22,141 | 12,313 | 4,773 | ||
Lease termination charge | 0 | 10,197 | 0 | ||
Impairment of cost method investment | 0 | 0 | 2,248 | ||
Stock-based compensation | 253,361 | 105,048 | 26,253 | ||
Additions to deferred revenue | 163,796 | 61,544 | 55,041 | ||
Amortization of deferred revenues | -53,853 | -42,331 | -13,785 | ||
Deferred income taxes | 24,716 | -25,707 | 31,127 | ||
Changes in operating assets and liabilities, net of acquisitions | ' | ' | ' | ||
Trade receivables | 21,522 | -11,801 | -9,294 | ||
Prepaid expenses | -1,437 | 1,953 | 1,058 | ||
Other assets, current and non-current | -1,733 | -10,914 | -3,121 | ||
Accounts payable and accrued liabilities | -6,935 | 17,590 | -1,504 | ||
Payables to related parties, net | 865 | 10,575 | -992 | ||
Other liabilities | -21,851 | 7,365 | -4,047 | ||
Net cash provided by operating activities of continuing operations | 560,297 | 393,321 | 167,630 | ||
Cash flows from investing activities | ' | ' | ' | ||
Purchases of property and equipment | -360,757 | -332,520 | -146,963 | ||
Broadband stimulus grants received | 0 | 9,319 | 22,826 | ||
Acquisition, net of cash acquired | -393,341 | -2,483,137 | ' | ||
Purchase consideration returned | 0 | 2,672 | 0 | ||
Proceeds from principal payments received on related party loans | 0 | 10,396 | 0 | ||
Net cash used in investing activities of continuing operations | -754,098 | -2,795,942 | -475,410 | ||
Cash flows from financing activities | ' | ' | ' | ||
Proceeds from issuance of long-term debt | 423,625 | 3,189,339 | 335,550 | ||
Proceeds from revolving credit facility | 195,000 | 0 | 0 | ||
Payments on revolving credit facility | -195,000 | ' | ' | ||
Equity contributions | 5,605 | 345,013 | 134,796 | ||
Distribution to parent | -1,203 | 0 | 0 | ||
Principal repayments on long-term debt | -18,013 | -1,058,577 | -1,575 | ||
Change in restricted cash, net | 0 | 22,666 | -22,820 | ||
Principal repayments on capital lease obligations | -7,874 | -1,931 | -1,171 | ||
Payment of deferred debt issuance costs | -4,891 | -83,134 | -11,701 | ||
Payment of early redemption fees on debt extinguished | 0 | -72,117 | 0 | ||
Cash contributed to ZPS (Note 4) | 0 | -7,218 | 0 | ||
Net cash provided by financing activities of continuing operations | 397,249 | 2,334,041 | 433,079 | ||
Cash flows from continuing operations | 203,448 | -68,580 | 125,299 | ||
Cash flows from discontinued operations | ' | ' | ' | ||
Operating activities | 0 | 3,914 | 0 | ||
Investing activities | 0 | 2,424 | 0 | ||
Net cash provided by discontinued operations | 0 | 6,338 | 0 | ||
Effect of changes in foreign exchange rates on cash | 1,018 | -303 | 0 | ||
Net increase/(decrease) in cash and cash equivalents | 204,466 | -62,545 | 125,299 | ||
Cash and cash equivalents, beginning of period | 88,148 | 150,693 | 25,394 | ||
Cash and cash equivalents, end of period | 292,614 | 88,148 | 150,693 | ||
Supplemental disclosure of non-cash, investing and financing activities: | ' | ' | ' | ||
Cash paid for interest, net of capitalized interest | 175,349 | 143,518 | 43,964 | ||
Cash paid for income taxes | 5,724 | 2,811 | 1,739 | ||
Non-cash additions to property and equipment from capital leases | 10,469 | 11,404 | 367 | ||
Increase in accounts payable and accrued expenses for purchases of property and equipment, net | 10,876 | 15,021 | 4,010 | ||
Interest payment made on behalf of the Company by CII | 0 | 0 | 10,951 | ||
Non-liquidating distribution to common unit holders made by CII on behalf of the Company | $0 | $0 | $9,080 | ||
[1] | The Company spun-off its ZPS operating unit on September 30, 2012 - see Note 4 - Spin-Off of Business. | ||||
[2] | The Company completed a debt refinancing transaction during the second quarter of Fiscal 2014, resulting in a loss on debt extinguishment for that respective period. See Note 9bLong-Term Debt. | ||||
[3] | The Company completed debt refinancing transactions during the first, second and third quarters of Fiscal 2013, resulting in a loss on debt extinguishment in each respective period. See Note 9 - Long-Term Debt. |
Organization_and_Description_o
Organization and Description of Business | 12 Months Ended | |
Jun. 30, 2014 | ||
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' | |
Organization and Description of Business | ' | |
ORGANIZATION AND DESCRIPTION OF BUSINESS | ||
Zayo Group, LLC, a Delaware limited liability company, was formed on May 4, 2007, and is the operating parent company of a number of subsidiaries engaged in bandwidth infrastructure services. Zayo Group, LLC and its subsidiaries are collectively referred to as “Zayo Group” or the “Company.” Headquartered in Boulder, Colorado, the Company operates bandwidth infrastructure assets, including fiber networks and datacenters, in the United States and Europe to offer: | ||
• | Physical infrastructure, including dark fiber, mobile infrastructure and colocation services. | |
• | Lit services, including wavelengths, Ethernet, IP, and SONET services. | |
Zayo Group, LLC is wholly owned by Zayo Group Holdings, Inc. (“Holdings”), which in turn is wholly-owned by Communications Infrastructure Investments, LLC (“CII”). |
Basis_of_Presentation_and_Sign
Basis of Presentation and Significant Accounting Policies | 12 Months Ended | |
Jun. 30, 2014 | ||
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' | |
Basis of Presentation and Significant Accounting Policies | ' | |
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES | ||
a. Basis of Presentation | ||
The accompanying consolidated financial statements include all the accounts of the Company and its wholly-owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation. The accompanying consolidated financial statements and related notes have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”). | ||
Unless otherwise noted, dollar amounts and disclosures throughout the Notes to the consolidated financial statements relate to the Company's continuing operations and are presented in thousands of dollars. | ||
Our fiscal year ends June 30 each year, and we refer to the fiscal year ended June 30, 2014 as “Fiscal | ||
2014,” June 30, 2013 as “Fiscal 2013,” and the fiscal year ended June 30, 2012 as “Fiscal 2012.” | ||
b. Foreign Currency Translation | ||
For operations outside the U.S. that have functional currencies other than the U.S. dollar, assets and liabilities | ||
are translated to U.S. dollars at period-end exchange rates, and revenue, expenses and cash flows are translated using monthly average exchange rates during the year. Gains or losses resulting from currency translation are recorded as a component of accumulated other comprehensive loss in member’s equity and in the consolidated statements of comprehensive loss. The Company considers the majority of its investments in its foreign subsidiaries to be permanently reinvested. The Company’s foreign exchange transaction gains and losses are included within “Other income/(expense), net” in the consolidated statements of operations. | ||
c. Discontinued Operations | ||
On September 30, 2012, the Company completed a spin-off of its Zayo Professional Services ("ZPS") business. The Company distributed all of the assets and liabilities of ZPS to Holdings on the respective spin-off date and accounted for the spin-off as an equity transaction at carryover basis, as the transaction was considered to be between entities under common control. | ||
d. Use of Estimates | ||
The preparation of the Company’s consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expense during the reporting period. Significant estimates are used when establishing allowances for doubtful accounts, reserves for disputed line cost billings, determining useful lives for depreciation and amortization, determining accruals for exit activities associated with real estate leases, assessing the need for impairment charges (including those related to investments, intangible assets and goodwill), determining the fair values of assets acquired and liabilities assumed in business combinations, accounting for income taxes and | ||
related valuation allowances against deferred tax assets and estimating the common unit fair values used to compute the stock-based compensation liability. Management evaluates these estimates and judgments on an ongoing basis and makes estimates based on historical experience, current conditions, and various other assumptions that are believed to be reasonable at the time under the circumstances. The results of these estimates form the basis for making judgments about the carrying values of assets and liabilities as well as identifying and assessing the accounting treatment with respect to commitments and contingencies. Actual results may differ from these estimates | ||
e. Cash and Cash Equivalents and Restricted Cash | ||
The Company considers all highly liquid investments with original maturities of three months or less to be cash and cash equivalents. Cash equivalents are stated at cost, which approximates fair value. Restricted cash consists of cash balances held by various financial institutions as collateral for letters of credit and surety bonds. These balances are reclassified to cash and cash equivalents when the underlying obligation is satisfied, or in accordance with the governing agreement. Restricted cash balances expected to become unrestricted during the next twelve months are recorded as current assets. As of June 30, 2014 and 2013, the Company had no restricted cash balances. The current restricted cash balance as of June 30, 2013 related to cash held in escrow associated with the Company’s July 2, 2012 debt refinancing – see Note 9 – Long Term Debt. Restricted cash balances that are not expected to become unrestricted during the next twelve months are recorded as other non-current assets. As of June 30, 2014 and 2013, the Company had a non-current restricted cash balance of $5,065 and $5,533, respectively. | ||
f. Trade Receivables | ||
Trade receivables are recorded at the invoiced amount and do not bear interest. The Company maintains an allowance for doubtful accounts for estimated losses inherent in its trade receivable portfolio. In establishing the required allowance, management considers historical losses adjusted to take into account current market conditions and the customer’s financial condition, and the age of receivables and current payment patterns. Account balances are charged off against the allowance after all means of collection have been exhausted and the potential for recovery is considered remote. | ||
g. Property and Equipment | ||
The Company’s property and equipment includes assets in service and under construction or development. | ||
Property and equipment is recorded at historical cost or acquisition date fair value. Costs associated directly with network construction, service installations, and development of business support systems, including employee-related costs, are capitalized. Depreciation is calculated on a straight-line basis over the asset’s estimated useful life from the date placed into service or acquired. Management periodically evaluates the estimates of the useful life of property and equipment by reviewing historical usage, with consideration given to technological changes, trends in the industry, and other economic factors that could impact the network architecture and asset utilization. | ||
Equipment acquired under capital leases is recorded at the lower of the fair value of the asset or the net present value of the minimum lease payments at the inception of the lease. Depreciation of equipment held under capital leases is included in depreciation and amortization expense, and is calculated on a straight-line basis over the estimated useful lives of the assets, or the related lease term, whichever is shorter. | ||
Management reviews property and equipment for impairment whenever events or changes in circumstances indicate that the carrying value of its property and equipment may not be recoverable. An impairment loss is recognized when the assets’ carrying value exceeds both the assets’ estimated undiscounted future cash flows and the assets’ estimated fair value. Measurement of the impairment loss is then based on the estimated fair value of the assets. Considerable judgment is required to project such future cash flows and, if required, to estimate the fair value of the property and equipment and the resulting amount of the impairment. No impairment charges were recorded for property and equipment during the years ended June 30, 2014, 2013 or 2012. | ||
The Company capitalizes interest for assets that require a period of time to get them ready for their intended use. The amount of interest capitalized is based on the Company’s weighted average effective interest rate for outstanding debt obligations during the respective accounting period. | ||
h. Goodwill and Acquired Intangibles | ||
Intangible assets arising from business combinations, such as acquired customer contracts and relationships(collectively “customer relationships”), are initially recorded at fair value. The Company amortizes customer relationships primarily over an estimated life of 10 to 20 years, using the straight-line method as this method approximates the timing in which the Company expects to receive the benefit from the acquired customer relationship assets. Goodwill represents the excess of the purchase price over the fair value of the net identifiable assets acquired in a business combination. Goodwill is reviewed for impairment at least annually in April, or more frequently if a triggering event occurs between impairment testing dates. The Company’s impairment assessment begins with a qualitative assessment to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying value. The qualitative assessment includes comparing the overall financial performance of the reporting units against the planned results used in the last quantitative goodwill impairment test. Additionally, each reporting unit’s fair value is assessed in light of certain events and circumstances, including macroeconomic conditions, industry and market considerations, cost factors, and other relevant entity- and reporting unit-specific events. The selection and assessment of qualitative factors used to determine whether it is more likely than not that the fair value of a reporting unit exceeds the carrying value involves significant judgments and estimates. If it is determined under the qualitative assessment that it is more likely than not that the fair value of a reporting unit is less than its carrying value, then a two-step quantitative impairment test is performed. Under the first step, the estimated fair value of the reporting unit is compared with its carrying value (including goodwill). If the fair value of the reporting unit exceeds its carrying value, step two does not need to be performed. If the estimated fair value of the reporting unit is less than its carrying value, an indication of goodwill impairment exists for the reporting unit and the enterprise must perform step two of the impairment test (measurement). Under step two, an impairment loss is recognized for any excess of the carrying amount of the reporting unit’s goodwill over the implied fair value of that goodwill. The implied fair value of goodwill is determined by allocating the fair value of the reporting unit in a manner similar to a purchase price allocation in acquisition accounting. The residual amount after this allocation is the implied fair value of the reporting unit goodwill. Fair value of the reporting unit under the two-step assessment is determined using a combination of both income and market-based variation approaches. The inputs and assumptions to valuation methods used to estimate the fair value of reporting units involves significant judgments. The Company conducted its last quantitative two-step impairment analysis in the third quarter of fiscal 2013 and has conducted qualitative assessments since that time. | ||
The Company reviews its indefinite-lived intangible assets for impairment at least annually in April and involves comparing the estimated fair value of indefinite-lived intangible assets to their respective carrying values. To the extent the carrying value of indefinite-lived intangible assets exceeds the fair value, the Company will recognize an impairment loss for the difference. The Company performed a qualitative assessment to determine whether it was more likely than not that the fair value of these assets was in excess of the carrying value for the year ended June 30, 2014 and has concluded there is no indication of impairment. | ||
Intangible assets with finite useful lives are amortized over their respective estimated useful lives and reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of the asset may not be recoverable. No impairment charges were recorded for goodwill or intangibles during the years ended June 30, 2012, 2013 or 2014. | ||
i. Derivative Financial Instruments | ||
Derivative instruments are recorded in the balance sheet as either assets or liabilities, measured at fair value. The Company has historically entered into interest rate swaps to convert a portion of its floating-rate debt to fixed-rate debt and has not applied hedge accounting; therefore, the changes in the fair value of the interest rate swaps are recognized in earnings as adjustments to interest expense. The principal objectives of the derivative instruments are to minimize the cash flow interest rate risks associated with financing activities. The Company does not use financial instruments for trading purposes. The Company utilizes interest rate swap contracts in connection with debt instruments entered into during the July 2012 financing transactions. See Note 9 - Long-term Debt, for further discussion of the Company’s debt obligations and Note 14 - Fair Value Measurements, for a discussion of the fair value of the interest rate swaps. | ||
j. Revenue Recognition | ||
The Company recognizes revenues derived from leasing fiber optic telecommunications infrastructure and the provision of telecommunications and colocation services when the service has been provided and when there is persuasive evidence of an arrangement, the fee is fixed or determinable, customer acceptance has been obtained with relevant contract terms, and collection of the receivable is reasonably assured. Taxes collected from customers and remitted to a governmental authority are reported on a net basis and are excluded from revenue. | ||
Most revenue is billed in advance on a fixed-rate basis. An immaterial amount of revenue is billed in arrears on a transactional basis determined by customer usage. The Company often bills customers for upfront charges, which are non-refundable. These charges relate to activation fees, installation charges or prepayments for future services and are influenced by various business factors including how the Company and customer agree to structure the payment terms. These upfront charges are deferred and recognized over the underlying contractual term. The Company also defers costs associated with customer activation and installation to the extent of upfront amounts received from customers, which are recognized as expense over the same period for which the associated revenue is recognized. | ||
The Company typically records revenues from leases of dark fiber, including indefeasible rights-of-use (“IRU”) agreements, over the term that the customer is given exclusive access to the assets. Dark fiber IRU agreements generally require the customer to make a down payment upon the execution of the agreement with monthly IRU fees paid over the contract term; however, in some cases, the Company receives up to the entire lease payment at the inception of the lease and recognizes the revenue ratably over the lease term. Revenue related to professional services to provide network management and technical support is recognized as services are provided. | ||
In determining the appropriate amount of revenue and related reserves to reflect in its consolidated financial statements, management evaluates payment history, credit ratings, customer financial performance, and historical or potential billing disputes and related estimates are based on these factors and assumptions. | ||
k. Operating Costs and Accrued Liabilities | ||
The Company’s operating costs consist primarily of third-party network service costs and colocation facility costs. Third-party network service costs result from the Company’s leasing of certain network facilities, primarily leases of circuits and dark fiber, from carriers to augment its owned infrastructure, for which the Company is generally billed a fixed monthly fee. The Company’s colocation facility costs include rent and license fees paid to the landlords of the buildings in which its zColo business operates, along with the utility costs to power those facilities. | ||
The Company recognizes the cost of these facilities or services when it is incurred in accordance with contractual requirements. The Company routinely disputes incorrect billings. The most prevalent types of disputes include disputes for circuits that are not disconnected on a timely basis and usage bills with incorrect records. Depending on the type and complexity of the issues involved, it may take several quarters to resolve disputes. | ||
In determining the amount of such operating expenses and related accrued liabilities to reflect in its consolidated financial statements, management considers the adequacy of documentation of disconnect notices, compliance with prevailing contractual requirements for submitting such disconnect notices and disputes to the provider of the facilities, and compliance with its interconnection agreements with these carriers. Significant judgment is required in estimating the ultimate outcome of the dispute resolution process, as well as any other costs that may be incurred to conclude the negotiations or settle any litigation. | ||
l. Stock-Based Compensation | ||
The common units granted by the Company’s parent company, CII, to the employees and independent directors of the Company are considered stock-based compensation with terms that require the awards to be classified as liabilities due to cash settlement features. As such, the Company accounts for these awards as a liability and re-measures the liability at each reporting date. These awards typically vest over a period of three or four years with the first vesting date occurring one year after the grant date and the remaining unvested shares vesting pro-rata over the remaining term. The common units may fully vest subsequent to a sale of CII or its subsidiaries. The stock compensation expense associated with the common unit liability is recognized on a straight-line basis over the requisite service period of three to five years but is adjusted each reporting period such that the liability is equal to the fair value of the awards attributed to expense. Subsequent to the vesting period end date, changes to the fair value of the liability classified awards are recognized as stock-based compensation expense until the awards are settled. | ||
The preferred units granted by the Company’s ultimate parent company, CII, to the employees and independent directors of the Company are considered stock-based compensation with terms that require the awards to be classified as equity. As such, the Company accounts for these awards as equity, which requires the cost to be measured at the grant date based on the fair value of the award. The cost is recognized as expense over the requisite service period. Preferred unit awards typically vest over a period of three or four years with the first vesting date occurring one year after the grant date and the remaining unvested units vesting pro-rata over the remaining term and may fully vest subsequent to a sale of CII or its subsidiaries. | ||
Determining the fair value of share-based awards at the grant date and subsequent reporting dates requires judgment. If actual results differ significantly from these estimates, stock-based compensation expense and the Company’s results of operations could be materially impacted. | ||
m. Legal Costs | ||
Costs incurred to hire and retain external legal counsel to advise us on regulatory, litigation and other matters is expensed as the related services are received. | ||
n. Government Grants | ||
The Company receives grant money from the National Telecommunications and Information Administration (“NTIA”) Broadband Technology Opportunity Program ("BTOP"). The BTOP program is intended to support the deployment of broadband infrastructure, encourage sustainable adoption of broadband service, and develop and maintain a nationwide public map of broadband service capability and availability, under which recipients are required to comply with certain operational and reporting requirements as it relates to these broadband infrastructure assets. The Company has accounted for grant money received for reimbursement of capital expenditures as a reduction of the cost of the asset in arriving at its carrying value. The grant is thus recognized in earnings over the useful life of a depreciable asset by way of a reduced depreciation charge. | ||
o. Income Taxes | ||
The Company recognizes income taxes under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in earnings in the period that includes the enactment date. | ||
Estimating the future tax benefit associated with deferred tax assets requires significant judgment. Deferred tax assets arise from a variety of sources, the most significant being: tax losses that can be carried forward to be utilized against taxable income in future years; and expenses recognized in the Company’s financial statements but disallowed in the Company’s tax return until the associated cash flow occurs. | ||
The Company records a valuation allowance to reduce its deferred tax assets to the amount that is expected to be recognized. The valuation allowance is established if, based on available evidence, it is more-likely-than-not that all or some portion of the asset will not be realized due to the inability to generate sufficient taxable income in the period and/or of the character necessary to utilize the benefit of the deferred tax asset. When evaluating whether it is more-likely-than-not that all or some portion of the deferred tax asset will not be realized, all available evidence, both positive and negative, that may affect the realizability of deferred tax assets is identified and considered in determining the appropriate amount of the valuation allowance. The Company continues to monitor its financial performance and other evidence each quarter to determine the appropriateness of the Company’s valuation allowance. At each balance sheet date, existing assessments are reviewed and, if necessary, revised to reflect changed circumstances. | ||
The analysis of the Company’s ability to utilize its NOL balance is based on the Company’s forecasted taxable income. The forecasted assumptions approximate the Company’s best estimates, including market growth rates, future pricing, market acceptance of the Company’s products and services and future expected capital investments. If the Company is unable to meet its taxable income forecasts in future periods the Company may change its conclusion about the appropriateness of the valuation allowance which could create a substantial income tax expense in the Company’s consolidated statement of operations in the period such change occurs. | ||
Deferred tax liabilities related to investments in foreign subsidiaries and foreign corporate joint ventures that are essentially permanent in duration are not recognized until it becomes apparent that such amounts will reverse in the foreseeable future. | ||
The Company records interest related to unrecognized tax benefits and penalties in the provision for income taxes. | ||
p. Fair Value of Financial Instruments | ||
Relevant accounting literature defines and establishes a framework for measuring fair value, and requires expanded disclosures about fair value measurements. It also emphasizes that fair value is a market-based measurement, not an entity-specific measurement, and defines fair value as the price that would be received to sell an asset or transfer a liability in an orderly transaction between market participants at the measurement date. Valuation techniques that may be used include the market approach (comparable market prices), the income approach (present value of future income or cash flow) and the cost approach (cost to replace the service capacity of an asset or replacement cost), which are each based upon observable and unobservable inputs. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect the Company’s market assumptions. | ||
Fair Value Hierarchy | ||
A fair value hierarchy is established that requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The three levels of inputs that are used to measure fair value are: | ||
Level 1 | ||
Inputs to the valuation methodology are unadjusted quoted prices for identical assets or liabilities in active markets that the Company has the ability to access. | ||
Level 2 | ||
Inputs to the valuation methodology include: | ||
• | quoted prices for similar assets or liabilities in active markets; | |
• | quoted prices for identical or similar assets or liabilities in inactive markets; | |
• | inputs other than quoted prices that are observable for the asset or liability; and | |
• | inputs that are derived principally from or corroborated by observable market data by correlation or other means. | |
If the asset or liability has a specified (contractual) term, the Level 2 input must be observable for substantially the full term of the asset or liability. | ||
Level 3 | ||
Inputs to the valuation methodology are unobservable and significant to the fair value measurement. | ||
The Company views fair value as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities required to be recorded at fair value, management considers the principal or most advantageous market in which it would transact and considers assumptions that market participants would use when pricing the asset or liability, such as inherent risk, transfer restrictions, and risk of nonperformance. | ||
q. Concentration of Credit Risk | ||
Financial instruments that potentially subject the Company to concentration of credit risk consist principally of cash investments and accounts receivable. The Company’s cash and cash equivalents are primarily held in commercial bank accounts in the United States. The Company limits its cash investments to high-quality financial institutions in order to minimize its credit risk. | ||
The Company’s trade receivables, which are unsecured, are geographically dispersed. During the years ended June 30, 2014 and 2013, the Company had no single customer that exceeded 10% of total revenue. During the year ended June 30, 2012, the Company had one customer that accounted for 12% of the total revenue recognized during the period. As of June 30, 2014, the Company had one customer with a trade receivable balance of 12% of total receivables. No customers’ trade receivable balance as of June 30, 2013 exceeded 10% of the Company’s consolidated net trade receivable balance. | ||
r. Recently Issued Accounting Pronouncements | ||
Discontinued Operations | ||
On April 10, 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-08—Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity. The amendments in the ASU change the criteria for reporting discontinued operations for all public and nonpublic entities. The amendments also require new disclosures about discontinued operations and disposals of components of an entity that do not qualify for discontinued operations reporting. The ASU is effective prospectively for disposals (or classifications as held-for-sale) that occur within annual periods beginning on or after December 15, 2014, and interim periods within those annual periods, for public entities, with early adoption permitted for disposals (or classifications as held-for-sale) that have not been reported in financial statements previously issued or available for issuance. The Company has not yet adopted the guidance under this ASU. | ||
Revenue Recognition | ||
On May 28, 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers, which requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. The ASU will replace most existing revenue recognition guidance in U.S. GAAP when it becomes effective. The new standard is effective for us on or after July 1, 2017. Early application is not permitted. The standard permits the use of either the retrospective or cumulative effect transition method. The Company is evaluating the effect that ASU 2014-09 will have on its consolidated financial statements and related disclosures. The Company has not yet selected a transition method nor has it determined the effect of the standard on its ongoing financial reporting. |
Acquisitions
Acquisitions | 12 Months Ended | |||||||||||||||||||||||
Jun. 30, 2014 | ||||||||||||||||||||||||
Business Combinations [Abstract] | ' | |||||||||||||||||||||||
Acquisitions | ' | |||||||||||||||||||||||
ACQUISITIONS | ||||||||||||||||||||||||
Since inception, the Company has consummated 32 transactions accounted for as business combinations. The acquisitions were executed as part of the Company’s business strategy of expanding through acquisitions. The acquisitions of these businesses have allowed the Company to increase the scale at which it operates, which in turn affords the Company the ability to increase its operating leverage, extend its network reach, and broaden its customer base. | ||||||||||||||||||||||||
The accompanying consolidated financial statements include the operations of the acquired entities from their respective acquisition dates. | ||||||||||||||||||||||||
Acquisitions During the Year Ended June 30, 2014 | ||||||||||||||||||||||||
The Company completed five acquisitions during Fiscal 2014 with an aggregate purchase price of $394,929. The Company had not yet finalized its purchase accounting related to the acquired assets and assumed liabilities as of June 30, 2014 for the following acquisitions: | ||||||||||||||||||||||||
Corelink Data Centers, LLC ("Corelink") | ||||||||||||||||||||||||
On August 1, 2013, the Company entered into an asset purchase agreement to acquire Corelink. The transaction was consummated on the same date, at which time the Company acquired substantially all of the net assets of this business for consideration of approximately $1,982, comprised of 301,949 preferred units of CII with an estimated fair value of $1,637 and cash of $344 ($251 net of cash acquired). The acquisition was considered a stock purchase for tax purposes. The cash consideration was paid with cash on hand. | ||||||||||||||||||||||||
Access Communications, Inc. ("Access") | ||||||||||||||||||||||||
On October 1, 2013, the Company acquired 100% of the equity interest in Access, a Minnesota corporation, for cash consideration of $40,068, net of cash acquired, of which $4,000 is currently held in escrow pending the expiration of the indemnification adjustment period. The acquisition was considered a stock purchase for tax purposes. The purchase price was $40,068 and was paid with cash on hand. | ||||||||||||||||||||||||
FiberLink, LLC ("FiberLink") | ||||||||||||||||||||||||
On October 2, 2013, the Company acquired 100% of the equity interest in FiberLink, an Illinois limited liability company, for cash consideration of $43,137, which was primarily funded with available funds drawn on the Company’s revolving credit facility. | ||||||||||||||||||||||||
CoreXchange, Inc. ("CoreXchange") | ||||||||||||||||||||||||
On March 4, 2014, the Company acquired 100% of the equity interest in CoreXchange, a data center, bandwidth and managed services provider located in Dallas, Texas for consideration of $17,503, net of cash acquired. Through the transaction, the Company acquired one new data center operation located at 8600 Harry Hines Blvd. and secured additional square footage in its existing data center. The consideration was paid with cash on hand. $1,775 is currently held in escrow pending the expiration of the indemnification adjustment period. The acquisition was considered an asset purchase for tax purposes. | ||||||||||||||||||||||||
Geo Networks Limited ("Geo") | ||||||||||||||||||||||||
On May 16, 2014, the Company acquired 100% of the equity interest in Ego Holdings Limited, a London-based dark fiber provider. The consideration consisted of cash of £174,308 (or $292,332), net of cash acquired, and was funded with a combination of cash on hand and available funds drawn on the Company’s Revolver. In conjunction with the acquisition, the Company repaid Geo’s existing debt obligations to the note holders totaling £113,376 and £69,124 was paid to the shareholders. The acquisition was considered an asset purchase for tax purposes. | ||||||||||||||||||||||||
Recently Closed Acquisitions | ||||||||||||||||||||||||
Neo Telecoms (“Neo”) | ||||||||||||||||||||||||
On July 1, 2014, the Company acquired a 96% equity interest in Neo, a Paris-based bandwidth infrastructure company. The agreement also includes a contractual mechanism to acquire the remaining 4% equity interest on or after December 31, 2015. The purchase price of €57,156 Euros (or $78,075) was in consideration of acquiring 96% equity ownership in Neo and is subject to certain adjustments post-closing. The consideration consisted of cash and was paid with cash on hand available from the proceeds of the Sixth Amendment to the Company’s Term Loan Facility. $8,710 of the purchase price is currently held in escrow pending the expiration of the indemnification adjustment period. The acquisition was considered an asset purchase for tax purposes. | ||||||||||||||||||||||||
Colo Facilities Atlanta (“AtlantaNAP”) | ||||||||||||||||||||||||
On July 1, 2014, the Company acquired 100% of the equity interest in AtlantaNAP, a data center and managed services provider in Atlanta, for cash consideration of $52,500. $5,250 of the purchase price is currently held in escrow pending the expiration of the indemnification adjustment period. The acquisition was considered an asset purchase for tax purposes. | ||||||||||||||||||||||||
Acquisitions During the Year Ended June 30, 2013 | ||||||||||||||||||||||||
AboveNet, Inc. (“AboveNet”) | ||||||||||||||||||||||||
On July 2, 2012, the Company acquired 100% of the outstanding capital stock of AboveNet, previously a publicly traded company listed on the New York Stock Exchange, in exchange for cash of approximately $2,212,492, net of cash acquired. The purchase price was based upon the price of $84 per share agreed to in the Agreement and Plan of Merger and the number of AboveNet shares outstanding on July 2, 2012. The acquisition was funded through cash proceeds raised through financing transactions that occurred in July 2012. The acquisition was considered a stock purchase for tax purposes. | ||||||||||||||||||||||||
FiberGate Holdings, Inc. (“FiberGate”) | ||||||||||||||||||||||||
On August 31, 2012, the Company acquired 100% of the equity interest in FiberGate, a privately held corporation, for total consideration of $118,335. The acquisition was funded with cash on hand. $17,550 of the purchase price is currently held in escrow pending the expiration of the working capital and indemnification adjustment period. The acquisition was considered a stock purchase for tax purposes. | ||||||||||||||||||||||||
USCarrier Telecom, LLC (“USCarrier”) | ||||||||||||||||||||||||
In connection with the October 1, 2010 acquisition of AFS, the Company acquired an ownership interest in USCarrier. As of June 30, 2012, the Company owned 55% of the outstanding Class A membership units and 34% of the outstanding Class B membership units of USCarrier. On October 1, 2012, the Company acquired the remaining equity interests in USCarrier not previously owned for total consideration of $16,092. The purchase price was paid with cash on hand. The acquisition was considered an asset purchase for tax purposes. | ||||||||||||||||||||||||
First Telecom Services, LLC (“First Telecom”) | ||||||||||||||||||||||||
On December 14, 2012, the Company acquired 100% of the equity interest in First Telecom, for total consideration of $109,700. The purchase price was paid with cash on hand. The acquisition was considered an asset purchase for tax purposes. | ||||||||||||||||||||||||
Litecast/Balticore, LLC (“Litecast”) | ||||||||||||||||||||||||
On December 31, 2012, the Company acquired 100% of the equity interest in Litecast for total consideration of $22,160. The purchase price was paid with cash on hand. The acquisition was considered an asset purchase for tax purposes. | ||||||||||||||||||||||||
Core NAP, L.P. (“Core NAP”) | ||||||||||||||||||||||||
On May 31, 2013, the Company acquired substantially all of the net assets of Core NAP for a purchase price of approximately $7,080. The purchase price was paid with cash on hand. The acquisition was considered an asset purchase for tax purposes. | ||||||||||||||||||||||||
Acquisitions During the Year Ended June 30, 2012 | ||||||||||||||||||||||||
360networks Holdings (USA) Inc. (“360networks”) | ||||||||||||||||||||||||
On December 1, 2011, the Company acquired all of the outstanding equity interest in 360 networks for a contractual purchase price of $345,000. In connection with the agreement, the Company agreed to assume a net working capital deficit of approximately $26,400 and acquired $709 in cash balances. In March 2012, the Company received $400 in cash from an escrow account as a final working capital adjustment. As a result, the net consideration paid for the transaction was $317,891. The acquisition was funded with proceeds from a $315,000 Senior Secured Term Loan Facility (“Original Term Loan Facility”), which was entered into on December 1, 2011 (see Note 9—Long-Term Debt) and cash on hand. | ||||||||||||||||||||||||
Included in the $345,000 contractual purchase price was VoIP360, Inc., a legal subsidiary of 360 networks. The VoIP360, Inc. entity held substantially all of 360 networks’ Voice over Internet Protocol (“VoIP”) and other voice product offerings. Concurrently with the close of the 360 networks acquisition, the Company contributed 360 networks’ VoIP operations to OVS. On the contribution date, the Company estimated the fair value of the VoIP assets and liabilities that were distributed to OVS to be $11,700, which is netted within the caption “Net assets contributed to OVS” presented in the purchase price allocation table below. The acquisition was considered a stock purchase for tax purposes. | ||||||||||||||||||||||||
Mercury Marquis Holdings, LLC (“MarquisNet”) | ||||||||||||||||||||||||
On December 31, 2011, the Company entered into an Asset Purchase Agreement with MarquisNet. The agreement was consummated on the same date, at which time the Company acquired substantially all of the net assets of MarquisNet for a purchase price of $15,875, subject to post-closing adjustments. In connection with the agreement, the parties estimated the Company would assume a net working capital deficit of approximately $419. The Company also received an escrow refund totaling $1,875 related to the resolution of contingent purchase price adjustments in connection with the MarquisNet acquisition. As such, the consideration paid for the transaction was reduced to $13,581. The acquisition was funded with a draw on the Company’s revolving line-of-credit, which was subsequently repaid. The acquisition was considered an asset purchase for tax purposes. | ||||||||||||||||||||||||
Control Room Technologies, LLC, Allegan Fiber Communications, LLC and Lansing Fiber Communications (collectively “Arialink”) | ||||||||||||||||||||||||
On May 1, 2012, the Company acquired 100% of the equity interest in Arialink. The purchase price, which was funded with cash on hand, was $17,129, net of cash acquired and an escrow refund totaling $797 related to the resolution of contingent purchase price adjustments in connection with the Arialink acquisition. The acquisition was considered an asset purchase for tax purposes. Included in the Arialink acquisition were certain assets and liabilities that supported Arialink’s managed service product offerings. Concurrently with the close of the Arialink acquisition, the Company contributed the portion of Arialink’s business that supported those managed service product offerings to OVS. The Company’s estimate of the fair value of the net assets contributed to OVS is approximately $1,752. | ||||||||||||||||||||||||
Acquisition Method Accounting Estimates | ||||||||||||||||||||||||
The Company initially recognizes the assets and liabilities acquired from the aforementioned acquisitions based on its preliminary estimates of their acquisition date fair values. As additional information becomes known concerning the acquired assets and assumed liabilities, management may make adjustments to the opening balance sheet of the acquired company up to the end of the measurement period, which is no longer than a one year period following the acquisition date. The determination of the fair values of the acquired assets and liabilities assumed (and the related determination of estimated lives of depreciable tangible and identifiable intangible assets) require significant judgment. As of June 30, 2014, the Company has not completed its fair value analysis and calculations in sufficient detail necessary to arrive at the final estimates of the fair value of the non-working capital acquired assets and assumed liabilities, including the allocations to property, plant and equipment, goodwill and intangible assets, deferred revenue and resulting deferred taxes related to its acquisitions of Access, FiberLink, CoreXchange, and Geo. All information presented with respect to non-working capital acquired assets and liabilities assumed as it relates to these acquisitions is preliminary and subject to revision pending the final fair value analysis. During the year ended June 30, 2014, the Company finalized its fair value analysis and resulting purchase accounting for the AboveNet, FiberGate, USCarrier, First Telecom, Litecast, and Core NAP acquisitions consummated in Fiscal 2013 and the Corelink acquisition consummated in Fiscal 2014. | ||||||||||||||||||||||||
The table below reflects the Company's estimates of the acquisition date fair values of the assets and liabilities assumed from its Fiscal 2014 acquisitions: | ||||||||||||||||||||||||
Corelink | Access | Fiberlink | CoreXchange | Geo | ||||||||||||||||||||
Acquisition date | 1-Aug-13 | 1-Oct-13 | 2-Oct-13 | 4-Mar-14 | 16-May-14 | |||||||||||||||||||
Cash | $ | 93 | $ | 1,162 | $ | 1 | $ | — | $ | 13,739 | ||||||||||||||
Other current assets | 521 | 2,283 | 811 | 893 | 11,060 | |||||||||||||||||||
Property and equipment | 15,856 | 8,401 | 6,105 | 3,009 | 219,535 | |||||||||||||||||||
Deferred tax assets, net | — | — | 6,975 | 158 | — | |||||||||||||||||||
Intangibles | 156 | 16,000 | 17,200 | 10,148 | 61,164 | |||||||||||||||||||
Goodwill | 2,950 | 26,968 | 32,258 | 4,458 | 91,249 | |||||||||||||||||||
Other assets | 545 | — | 144 | 44 | 9,873 | |||||||||||||||||||
Total assets acquired | 20,121 | 54,814 | 63,494 | 18,710 | 406,620 | |||||||||||||||||||
Current liabilities | 718 | 989 | 1,153 | 607 | 22,226 | |||||||||||||||||||
Deferred revenue | 219 | 5,054 | 19,203 | 395 | 40,807 | |||||||||||||||||||
Other liabilities | 14,240 | — | — | 205 | — | |||||||||||||||||||
Deferred tax liability, net | 2,962 | 7,541 | — | — | 37,516 | |||||||||||||||||||
Total liabilities assumed | 18,139 | 13,584 | 20,356 | 1,207 | 100,549 | |||||||||||||||||||
Net assets acquired | 1,982 | 41,230 | 43,138 | 17,503 | 306,071 | |||||||||||||||||||
Less cash acquired | (93 | ) | (1,162 | ) | (1 | ) | — | (13,739 | ) | |||||||||||||||
Net consideration paid | $ | 1,889 | $ | 40,068 | $ | 43,137 | $ | 17,503 | $ | 292,332 | ||||||||||||||
The table below reflects the Company's estimates of the acquisition date fair values of the assets and liabilities assumed from its Fiscal 2013 acquisitions: | ||||||||||||||||||||||||
AboveNet | Fibergate | US Carrier | First Telecom | Litecast | Core NAP | |||||||||||||||||||
Acquisition date | July 2, 2012 | 31-Aug-12 | 1-Oct-12 | 14-Dec-12 | 31-Dec-12 | 31-May-13 | ||||||||||||||||||
Cash | $ | 139,137 | $ | 2,278 | $ | — | $ | — | $ | — | $ | — | ||||||||||||
Other current assets | 47,547 | 4,912 | 1,297 | 5,901 | 256 | 198 | ||||||||||||||||||
Property and equipment | 1,477,320 | 58,975 | 19,361 | 63,543 | 386 | 2,507 | ||||||||||||||||||
Deferred tax assets, net | 42,126 | — | 1,986 | 19,238 | 51 | — | ||||||||||||||||||
Intangibles | 460,161 | 35,963 | 6,820 | 17,135 | 12,510 | 4,105 | ||||||||||||||||||
Goodwill | 374,302 | 53,783 | 5,376 | 48,382 | 9,867 | 986 | ||||||||||||||||||
Other assets | 12,564 | 58 | 27 | 60 | — | — | ||||||||||||||||||
Total assets acquired | 2,553,157 | 155,969 | 34,867 | 154,259 | 23,070 | 7,796 | ||||||||||||||||||
Current liabilities | 77,004 | 1,508 | 3,742 | 4,560 | 209 | 543 | ||||||||||||||||||
Deferred revenue | 143,373 | 2,541 | 2,206 | 39,999 | 701 | — | ||||||||||||||||||
Other liabilities | 5,069 | — | — | — | — | 173 | ||||||||||||||||||
Deferred tax liability, net | — | 31,307 | — | — | — | — | ||||||||||||||||||
Total liabilities assumed | 225,446 | 35,356 | 5,948 | 44,559 | 910 | 716 | ||||||||||||||||||
Net assets acquired | 2,327,711 | 120,613 | 28,919 | 109,700 | 22,160 | 7,080 | ||||||||||||||||||
Net assets of Zayo Professional Services distributed to Parent (excluding cash) | 23,918 | — | — | — | — | — | ||||||||||||||||||
Cost method investment in USCarrier | — | — | (12,827 | ) | — | — | — | |||||||||||||||||
Less cash acquired | (139,137 | ) | (2,278 | ) | — | — | — | — | ||||||||||||||||
Net consideration paid | $ | 2,212,492 | $ | 118,335 | $ | 16,092 | $ | 109,700 | $ | 22,160 | $ | 7,080 | ||||||||||||
The table below reflects the Company's estimates of the acquisition date fair values of the acquired assets and liabilities assumed from its Fiscal 2012 acquisitions: | ||||||||||||||||||||||||
360networks | MarquisNet | Arialink | ||||||||||||||||||||||
Acquisition date | 1-Dec-11 | 31-Dec-11 | 1-May-12 | |||||||||||||||||||||
Cash | $ | 709 | $ | — | $ | 74 | ||||||||||||||||||
Other current assets | 10,722 | 64 | 97 | |||||||||||||||||||||
Property and equipment | 167,116 | 1,295 | 8,873 | |||||||||||||||||||||
Deferred tax assets, net | 85,076 | — | 741 | |||||||||||||||||||||
Intangibles | 23,959 | 7,874 | 6,807 | |||||||||||||||||||||
Goodwill | 100,335 | 4,735 | 3,753 | |||||||||||||||||||||
Other assets | 214 | — | 31 | |||||||||||||||||||||
Total assets acquired | 388,131 | 13,968 | 20,376 | |||||||||||||||||||||
Current liabilities | 32,304 | 254 | 1,295 | |||||||||||||||||||||
Deferred revenue | 45,455 | — | 2,685 | |||||||||||||||||||||
Other liabilities | 3,472 | 133 | 945 | |||||||||||||||||||||
Total liabilities assumed | 81,231 | 387 | 4,925 | |||||||||||||||||||||
Net assets acquired | 306,900 | 13,581 | 15,451 | |||||||||||||||||||||
Net assets contributed to OVS | 11,700 | — | 1,752 | |||||||||||||||||||||
Less cash acquired | (709 | ) | — | (74 | ) | |||||||||||||||||||
Net consideration paid | $ | 317,891 | $ | 13,581 | $ | 17,129 | ||||||||||||||||||
The goodwill arising from the Company's acquisitions results from the cost synergies, anticipated incremental sales to the acquired company's customer base and economies-of-scale expected from the acquisitions. The Company has allocated the goodwill to the reporting units (in existence on the respective acquisition dates) that were expected to benefit from the acquired goodwill. The allocation was determined based on the excess of the fair value of the acquired business over the fair value of the individual assets acquired and liabilities assumed that were assigned to the reporting units. Note 7 - Goodwill, displays the allocation of the Company's acquired goodwill to each of its reporting units. | ||||||||||||||||||||||||
In each of the Company's Fiscal 2014, 2013, and 2012 acquisitions, the Company acquired certain customer relationships. These relationships represent a valuable intangible asset, as the Company anticipates continued business from the acquired customer bases. The Company's estimate of the fair value of the acquired customer relationships is based on a multi-period excess earnings valuation technique. The fair value of the acquired customer relationships for each acquisition was determined to be as follows: 2014 acquisitions - Access, $16,000; Fiberlink, $17,200; CoreXchange, $10,148; and Geo $41,906; 2013 acquisitions - AboveNet, $457,907; FiberGate, $35,963; USCarrier, $6,820; First Telecom, $35,516; LiteCast, $12,510; CoreNap, $4,105; 2012 acquisitions -- 360networks, $19,923; MarquisNet, $7,874; Arialink, $6,807. For Fiscal 2014 acquisitions, the Company estimates the useful life of the acquired customer relationships to be approximately 20 years as it relates to Access and Fiberlink, 11 years to CoreXchange, and 12 years to Geo. For Fiscal 2013 acquisitions, the Company estimated the useful life of the acquired customer relationships to be approximately 20 years as it relates to AboveNet, FiberGate, Litecast and USCarrier, 15 years for First Telecom, and 11 years for CoreNAP. For Fiscal 2012 acquisitions, the Company estimated the useful life of the acquired customer relationships to be approximately 20 years as it relates to Arialink and 360networks and 11 years for MarquisNet. | ||||||||||||||||||||||||
The previous owners of AboveNet, 360networks, First Telecom, and Geo had entered into various agreements, including IRU agreements with other telecommunication service providers to lease fiber and other bandwidth infrastructure in exchange for upfront cash payments. The Company accounted for acquired deferred revenue at its acquisition date fair value, which was determined utilizing both the income and market approaches. The income approach was based upon management’s assessment of the cost of the network encumbered by the IRU contracts in place, as well as the future costs to be incurred in connection with the Company’s continuing legal obligation associated with the acquired IRU contracts plus a reasonable profit margin. The market approach incorporated the actual up-front payments received by AboveNet, 360networks, First Telecom, and Geo under contracts entered into within close proximity to the acquisition date, as those were recent market transactions between parties unrelated to the Company, and comparable transactions that the Company had entered in to with other third-party customers within 18 months of the acquisition. A fair value of $146,016, $45,455, $39,999, and $40,807 was assigned to the acquired deferred revenue balance of AboveNet, 360networks, First Telecom, and Geo, respectively. The $143,373 represented in our purchase price allocation table above for AboveNet is shown net of amounts allocated to ZPS. The acquired deferred revenue is being recognized over a weighted average remaining contract term of 9.1 years, 12.5 years, 14.2 years, and 9.7 years for the AboveNet, 360networks, First Telecom, and Geo acquisitions, respectively. | ||||||||||||||||||||||||
Purchase Accounting Estimates Associated with Deferred Taxes | ||||||||||||||||||||||||
The three largest acquisitions completed in the last three years were 360networks, AboveNet, and Geo. | ||||||||||||||||||||||||
Based on the Company’s fair value assessment related to deferred tax assets acquired in the 360networks, AboveNet, and Geo acquisitions, a value of $85,076, $42,126, and $(37,516), respectively, was assigned to the acquired net deferred tax assets/(liabilities). | ||||||||||||||||||||||||
In conjunction with the finalization of acquisition accounting for 360networks and AboveNet, the Company completed a “change in ownership” analysis, within the meaning of Section 382 of the Internal Revenue Code (“IRC”). Section 382 of the IRC limits an acquiring company’s ability to utilize net operating loss carryforwards (“NOLs”) previously generated by an acquired company in order to reduce future taxable income. As a result of the Company’s acquisition of AboveNet and 360networks, the Company is subject to annual limitations on usage of the acquired $1,008,755 and $84,500 of NOLs generated by AboveNet and 360networks prior to the acquisition date. | ||||||||||||||||||||||||
The tax effect of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities are as follows: | ||||||||||||||||||||||||
360networks | AboveNet | Geo | ||||||||||||||||||||||
December 1, 2011 | July 2, 2012 | 16-May-14 | ||||||||||||||||||||||
Deferred income tax assets: | ||||||||||||||||||||||||
Net operating loss carry forwards | $ | 29,587 | $ | 405,292 | $ | 2,529 | ||||||||||||||||||
Property and equipment | 41,071 | — | — | |||||||||||||||||||||
Deferred revenue | 16,456 | 49,140 | 4,908 | |||||||||||||||||||||
Accrued expenses | 2,301 | 12,243 | — | |||||||||||||||||||||
Allowance for doubtful accounts | 16 | 2,435 | — | |||||||||||||||||||||
Total deferred income tax assets | 89,431 | 469,110 | 7,437 | |||||||||||||||||||||
Deferred income tax liabilities: | ||||||||||||||||||||||||
Property and equipment | — | (249,963 | ) | (32,720 | ) | |||||||||||||||||||
Intangible assets | (4,355 | ) | (177,021 | ) | (12,233 | ) | ||||||||||||||||||
Total deferred income tax liabilities | (4,355 | ) | (426,984 | ) | (44,953 | ) | ||||||||||||||||||
Net deferred income tax assets/(liabilities) | $ | 85,076 | $ | 42,126 | $ | (37,516 | ) | |||||||||||||||||
Adjustments to Purchase Accounting Estimates Associated with Prior Year Acquisitions | ||||||||||||||||||||||||
First Telecom | ||||||||||||||||||||||||
During the quarter ended December 31, 2013, the Company finalized its acquisition accounting for First Telecom and adjusted its previously reported allocation of the purchase consideration associated with this acquisition as a result of changes to the original fair value estimates of certain items acquired. These changes are the result of additional information obtained since the filing of the Company's Annual Report on Form 10-K for the year ended June 30, 2013 that related to facts and circumstances in existence at the acquisition date. Property, plant and equipment increased by $25,624, customer relationship intangible assets decreased by $18,381, deferred revenue increased by $18,178, and deferred tax assets increased by $7,273 related to the Company's final valuation of non-working capital acquired assets and liabilities assumed and related deferred tax impacts. The Company did not retrospectively adjust previously reported financial results in connection with the finalization of acquisition accounting for First Telecom due to the immaterial effect of these adjustments. | ||||||||||||||||||||||||
Escrow Claim Settlement | ||||||||||||||||||||||||
During the second quarter of Fiscal 2014, the Company settled its outstanding escrow claim with the sellers of 360networks Holdings (USA), Inc. ("360networks") and received a one-time payment of $5,042 as full and final settlement. $1,261 of the settlement was transferred to Onvoy, Inc. ("Onvoy") for customer billing disputes related to its acquired VOIP 360, Inc. business. The remaining $3,781 was recognized as a reduction in "Selling, general and administrative expenses" in the accompanying condensed consolidated statement of operations for the three and six months ended December 31, 2013 since the measurement period had closed for the 360networks acquisition at the time of settlement. | ||||||||||||||||||||||||
Transaction Costs | ||||||||||||||||||||||||
Transaction costs include expenses associated with professional services (i.e., legal, accounting, regulatory, etc.) rendered in connection with signed and/or closed acquisitions or disposals (including spin-offs), travel expense, severance expense incurred on the date of acquisition or disposal, and other direct expenses incurred that are associated with such acquisitions or disposals. The Company incurred transaction costs of $4,495, $14,204, and $6,630 during the years ended June 30, 2014, 2013 and 2012. Transaction costs have been included in selling, general and administrative expenses in the consolidated statements of operations and in cash flows from operating activities in the consolidated statements of cash flows during these periods. | ||||||||||||||||||||||||
Pro-forma Financial Information (Unaudited) | ||||||||||||||||||||||||
The unaudited pro forma results presented below include the effects of the Company’s Fiscal 2013 acquisitions of AboveNet, Fibergate, USCarrier, First Telecom, Litecast, and Core NAP and the Company’s Fiscal 2014 acquisitions of Corelink, Access, Fiberlink, CoreXchange, and Geo as if each acquisition occurred on July 1, 2012. The pro forma loss for the years ended June 30, 2013 and 2014 includes the additional depreciation and amortization resulting from the adjustments to the value of property and equipment and intangible assets resulting from purchase accounting and a net increase to revenue during 2013 and net decrease to revenue during 2014 as a result of the acquisition date valuation of acquired deferred revenue. The pro forma results also include interest expense associated with debt used to fund the acquisitions. The pro forma results do not include any anticipated cost synergies or other expected benefits of the acquisitions. The unaudited pro forma financial information below is not necessarily indicative of either future results of operations or results that might have been achieved had the acquisitions been consummated as of July 1, 2012. | ||||||||||||||||||||||||
Year Ended June 30, | ||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||
Revenue | $ | 1,158,545 | $ | 1,079,193 | ||||||||||||||||||||
Loss from continuing operations | $ | (183,153 | ) | $ | (265,157 | ) | ||||||||||||||||||
The Company is unable to determine the amount of revenue associated with each acquisition recognized in the post-acquisition period as a result of integration activities. |
SpinOff_of_Business
Spin-Off of Business | 12 Months Ended | |||||||||||
Jun. 30, 2014 | ||||||||||||
Discontinued Operations and Disposal Groups [Abstract] | ' | |||||||||||
Spin-Off of Business | ' | |||||||||||
SPIN-OFF OF BUSINESS | ||||||||||||
In connection with certain business combinations, the Company may acquire assets or liabilities that support products outside of the Company’s primary focus of providing bandwidth infrastructure services. | ||||||||||||
On September 30, 2012, the Company completed a spin-off of Zayo Professional Services ("ZPS"), a professional service business unit acquired in the acquisition of AboveNet. The Company distributed all of the assets and liabilities of ZPS on the spin-off date to Holdings. | ||||||||||||
Consistent with discontinued operations reporting provisions, management determined that it had discontinued all significant cash flows and continuing involvement with respect to the ZPS operations effective September 30, 2012. Therefore, for the three months ended September 30, 2012, the results of the operations of ZPS have been aggregated in a single caption entitled, “Earnings from discontinued operations, net of income taxes” in the accompanying condensed consolidated statements of operations. | ||||||||||||
The Company continues to have ongoing contractual relationships with ZPS to provide ZPS with bandwidth capacity. The contractual relationships are based on agreements that were entered into at estimated market rates. During the quarter ended September 30, 2012, transactions with ZPS were eliminated upon consolidation. Subsequent to the spin-off date, transactions with ZPS have been included in the Company’s results of operations. See Note 16 - Related-Party Transactions, for a discussion of transactions with ZPS during the years ended June 30, 2014 and 2013. | ||||||||||||
Earnings from discontinued operations, net of income taxes in the accompanying consolidated statements of operations are comprised of the following: | ||||||||||||
Year Ended June 30, | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Revenues | $ | — | $ | 6,474 | $ | — | ||||||
Earnings before income taxes | — | 3,011 | — | |||||||||
Income tax expense | — | 1,203 | — | |||||||||
Earnings from discontinued operations, net of income taxes | $ | — | $ | 1,808 | $ | — | ||||||
The earnings from discontinued operations, net of income taxes, is net of $1,544 of intercompany expenses which ZPS recognized during Fiscal 2013 from transactions with other Zayo Group subsidiaries. |
Investment
Investment | 12 Months Ended |
Jun. 30, 2014 | |
Investments, All Other Investments [Abstract] | ' |
Investment | ' |
INVESTMENT | |
In connection with the American Fiber Systems ("AFS") acquisition, the Company acquired an ownership interest in USCarrier. As of June 30, 2012, the Company’s ownership in USCarrier was comprised of 55% of the outstanding Class A membership units and 34% of the outstanding Class B membership units. As discussed in Note 3 – Acquisitions, on October 1, 2012, the Company acquired the remaining equity interest in USCarrier. At the time of the AFS acquisition, management estimated the fair value of its interest in USCarrier to be $15,075. In valuing the Company’s interest in USCarrier, management used both an income- and market-based approach to estimate the acquisition date fair value. | |
Although the Company had a significant ownership position in USCarrier prior to the October 1, 2012 acquisition, as a result of certain historical disputes with the board of managers of USCarrier, the Company was unable to exercise control or significant influence over USCarrier’s operating and financial policies. As a result, the Company accounted for this investment utilizing the cost method of accounting from the date of the AFS acquisition. | |
Based on the agreed upon purchase price for the remaining outstanding equity interests included in the August 15, 2012 purchase agreement, the fair value of the Company’s original ownership interest in USCarrier was determined to be $12,827, and as such, the Company wrote-down the carrying value of its investment in USCarrier to its fair value and recognized an impairment of $2,248 during the year ended June 30, 2012. |
Property_and_Equipment
Property and Equipment | 12 Months Ended | ||||||||||
Jun. 30, 2014 | |||||||||||
Property, Plant and Equipment [Abstract] | ' | ||||||||||
Property and Equipment | ' | ||||||||||
PROPERTY AND EQUIPMENT | |||||||||||
Property and equipment, including assets held under capital leases, was comprised of the following: | |||||||||||
Estimated | |||||||||||
useful lives | As of June 30, | ||||||||||
(in years) | 2014 | 2013 | |||||||||
Land | N/A | $ | 712 | $ | 712 | ||||||
Building leasehold and site improvements | 15 to 20 | 64,120 | 50,094 | ||||||||
Furniture, fixtures and office equipment | 3 to 7 | 5,721 | 4,223 | ||||||||
Computer hardware | 3 to 5 | 16,648 | 14,130 | ||||||||
Software | 3 | 9,344 | 7,623 | ||||||||
Machinery and equipment | 5 to 7 | 94,881 | 58,364 | ||||||||
Fiber optic equipment | 8 | 583,693 | 483,508 | ||||||||
Circuit switch equipment | 10 | 11,817 | 11,173 | ||||||||
Packet switch equipment | 5 | 62,844 | 41,133 | ||||||||
Fiber optic network | 15 to 20 | 2,437,378 | 1,934,948 | ||||||||
Construction in progress | N/A | 258,872 | 249,168 | ||||||||
Total | 3,546,030 | 2,855,076 | |||||||||
Less accumulated depreciation | (737,721 | ) | (443,856 | ) | |||||||
Property and equipment, net | $ | 2,808,309 | $ | 2,411,220 | |||||||
Total depreciation expense, including depreciation of assets held under capital leases, for the years ended June 30, 2014, 2013 and 2012 was $294,101, $280,113 and $70,357, respectively. | |||||||||||
Included within the Company’s property and equipment balance are assets under capital leases with a cost of $117,174 and $72,260 with associated accumulated depreciation of $24,011 and $13,217 as of June 30, 2014 and 2013, respectively. The Company recognized depreciation expense associated with assets under capital leases of $10,794, $8,512 and $3,142 for the years ended June 30, 2014, 2013 and 2012, respectively. | |||||||||||
During the years ended June 30, 2013 and 2012, the Company received a total of $9,319 and $22,826, respectively, in grant money from the NTIA’s Broadband Technology Opportunities Program for reimbursement of property and equipment expenditures. The Company has accounted for these funds as a reduction of the cost of its fiber optic network. No grant reimbursements were received by the Company during the year ended June 30, 2014. | |||||||||||
During the years ended June 30, 2014, 2013 and 2012, the Company capitalized interest in the amounts of $12,636, $12,970, and $5,472, respectively. The Company capitalized $42,685, $28,613, and $9,373 of direct labor costs to property and equipment accounts during the years ended June 30, 2014, 2013 and 2012, respectively. |
Goodwill
Goodwill | 12 Months Ended | |||||||||||||||||||||||||||||||
Jun. 30, 2014 | ||||||||||||||||||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | |||||||||||||||||||||||||||||||
Goodwill | ' | |||||||||||||||||||||||||||||||
GOODWILL | ||||||||||||||||||||||||||||||||
The Company’s goodwill balance was $846,462 and $682,775 as of June 30, 2014 and 2013, respectively. Additions to goodwill during the year ended June 30, 2013 relate to the acquisitions of AboveNet, FiberGate, USCarrier, First Telecom, Litecast, and Core NAP (See Note 3 – Acquisitions). Additions to goodwill during the year ended June 30, 2014 relate to the acquisitions of Corelink, Access, Fiberlink, CoreXchange, and Geo. | ||||||||||||||||||||||||||||||||
The Company’s reporting units are comprised of its Strategic Product Groups (“SPGs”): Zayo Dark Fiber (“Dark Fiber”), Zayo Wavelength Services (“Waves”), Zayo SONET Services (“SONET”), Zayo Ethernet Services (“Ethernet”), Zayo IP Services (“IP”), Zayo Mobile Infrastructure Group (“MIG”), and Zayo Colocation (“zColo”). The following rollforward reflects the allocation of goodwill acquired in the Company’s Fiscal 2013 and 2014 acquisitions to the Company’s reporting units (in thousands): | ||||||||||||||||||||||||||||||||
Waves | SONET | Ethernet | IP | MIG | Dark Fiber | zColo | Total | |||||||||||||||||||||||||
As of June 30, 2012 | $ | 57,110 | $ | 13,295 | $ | 24,257 | $ | 21,186 | $ | 10,131 | $ | 62,253 | $ | 5,571 | $ | 193,803 | ||||||||||||||||
Additions | ||||||||||||||||||||||||||||||||
AboveNet | 156,823 | 36,506 | 66,607 | 58,174 | 27,819 | 23,288 | 5,114 | 374,331 | ||||||||||||||||||||||||
FiberGate | — | — | — | — | — | 53,783 | — | 53,783 | ||||||||||||||||||||||||
USCarrier | 1,908 | 444 | 810 | 708 | 338 | 855 | 313 | 5,376 | ||||||||||||||||||||||||
First Telecom | 29 | 7 | 12 | 11 | 5 | 44,864 | 8 | 44,936 | ||||||||||||||||||||||||
Litecast | 706 | 164 | 300 | 262 | 125 | 8,277 | 34 | 9,868 | ||||||||||||||||||||||||
Core NAP | — | — | — | — | — | — | 5,674 | 5,674 | ||||||||||||||||||||||||
Foreign currency translation and other adjustments | (712 | ) | (130 | ) | (278 | ) | (268 | ) | (106 | ) | (3,451 | ) | (51 | ) | (4,996 | ) | ||||||||||||||||
As of June 30, 2013 | 215,864 | 50,286 | 91,708 | 80,073 | 38,312 | 189,869 | 16,663 | 682,775 | ||||||||||||||||||||||||
Additions: | ||||||||||||||||||||||||||||||||
First Telecom | 597 | — | 149 | — | — | 2,700 | — | 3,446 | ||||||||||||||||||||||||
Core NAP | — | — | — | — | — | — | (4,688 | ) | (4,688 | ) | ||||||||||||||||||||||
Corelink | — | — | — | — | — | — | 2,950 | 2,950 | ||||||||||||||||||||||||
Access | — | — | 5,129 | 137 | 5,823 | 15,879 | — | 26,968 | ||||||||||||||||||||||||
Fiberlink | — | — | — | — | — | 32,258 | — | 32,258 | ||||||||||||||||||||||||
CoreXchange | — | — | — | — | — | — | 4,458 | 4,458 | ||||||||||||||||||||||||
Geo | 25,654 | — | — | — | — | 65,595 | — | 91,249 | ||||||||||||||||||||||||
Foreign currency translation and other adjustments | 42 | — | 157 | 226 | — | 6,378 | 243 | 7,046 | ||||||||||||||||||||||||
As of June 30, 2014 | $ | 242,157 | $ | 50,286 | $ | 97,143 | $ | 80,436 | $ | 44,135 | $ | 312,679 | $ | 19,626 | $ | 846,462 | ||||||||||||||||
During the year ended June 30, 2014, goodwill increased by $7,046 primarily due to foreign currency movements impacting goodwill allocated to the U.K. operations. In addition, the Company recorded purchase accounting adjustments to acquisitions closed during the past twelve months, which resulted in a net decrease to goodwill of $1,242. The decrease primarily related to purchase accounting adjustments recorded during the second and fourth quarters of Fiscal 2014 in connection with the Company's final valuation of property, plant and equipment, intangible assets, and deferred revenue and associated deferred taxes impact for the First Telecom and Core NAP acquisitions. |
Intangible_Assets
Intangible Assets | 12 Months Ended | |||||||||||
Jun. 30, 2014 | ||||||||||||
Intangible Assets, Net (Excluding Goodwill) [Abstract] | ' | |||||||||||
Intangible Assets | ' | |||||||||||
INTANGIBLE ASSETS | ||||||||||||
Identifiable acquisition-related intangible assets as of June 30, 2014 and 2013 were as follows: | ||||||||||||
Gross | Accumulated | Net | ||||||||||
Carrying | Amortization | |||||||||||
Amount | ||||||||||||
30-Jun-14 | ||||||||||||
Finite-Lived Intangible Assets | ||||||||||||
Customer relationships | $ | 764,905 | $ | (100,513 | ) | $ | 664,392 | |||||
Tradenames | 85 | (11 | ) | 74 | ||||||||
Underlying rights | 1,760 | (116 | ) | 1,644 | ||||||||
766,750 | (100,640 | ) | 666,110 | |||||||||
Indefinite-Lived Intangible Assets | ||||||||||||
Certifications | 3,488 | — | 3,488 | |||||||||
Underlying rights | 19,426 | — | 19,426 | |||||||||
Total | $ | 789,664 | $ | (100,640 | ) | $ | 689,024 | |||||
June 30, 2013 | ||||||||||||
Finite-Lived Intangible Assets | ||||||||||||
Customer relationships | $ | 715,730 | $ | (84,570 | ) | $ | 631,160 | |||||
Tradenames | 1,179 | (590 | ) | 589 | ||||||||
Underlying rights | 1,075 | (54 | ) | 1,021 | ||||||||
717,984 | (85,214 | ) | 632,770 | |||||||||
Indefinite-Lived Intangible Assets | ||||||||||||
Certifications | 3,488 | — | 3,488 | |||||||||
Total | $ | 721,472 | $ | (85,214 | ) | $ | 636,258 | |||||
The weighted average remaining amortization period for the Company’s customer relationships and trade name assets is 16.3 years and 1.0 years, respectively. The Company has determined that certain underlying rights (including easements) and the certifications have indefinite lives. The amortization period for underlying rights (including easements) is 20 years. The amortization of intangible assets for the years ended June 30, 2014, 2013 and 2012 was $42,306, $42,567 and $14,604, respectively. | ||||||||||||
During the years ended June 30, 2014 and 2013, the Company wrote off $27,167 and $548 in fully amortized intangible assets, respectively. Estimated future amortization of finite-lived intangible assets is as follows: | ||||||||||||
Year Ended June 30, | ||||||||||||
2015 | 44,505 | |||||||||||
2016 | 44,323 | |||||||||||
2017 | 44,323 | |||||||||||
2018 | 44,323 | |||||||||||
2019 | 44,323 | |||||||||||
Thereafter | 444,313 | |||||||||||
Total | $ | 666,110 | ||||||||||
LongTerm_Debt
Long-Term Debt | 12 Months Ended | ||||||
Jun. 30, 2014 | |||||||
Debt Disclosure [Abstract] | ' | ||||||
Long-Term Debt | ' | ||||||
LONG-TERM DEBT | |||||||
As of June 30, 2014 and 2013, long-term debt was as follows: | |||||||
(dollars in thousands) | June 30, | June 30, | |||||
2014 | 2013 | ||||||
Term Loan Facility due 2019 | $ | 2,010,776 | $ | 1,603,800 | |||
8.125% Senior Secured First Priority Notes due 2020 | 750,000 | 750,000 | |||||
10.125% Senior Unsecured Notes due 2020 | 500,000 | 500,000 | |||||
Total Debt Obligations | 3,260,776 | 2,853,800 | |||||
Unamortized discount on senior Secured Term Loan due 2019 | (20,653 | ) | (23,095 | ) | |||
Carrying value of debt | 3,240,123 | 2,830,705 | |||||
Less current portion | (20,450 | ) | (16,200 | ) | |||
Long-term debt, less current portion | $ | 3,219,673 | $ | 2,814,505 | |||
On July 2, 2012, the Company and Zayo Capital issued $750,000 aggregate principal amount of 8.125% senior secured first-priority notes due 2020 (the "Senior Secured Notes") and $500,000 aggregate principal amount of 10.125% senior unsecured notes due 2020 (the "Senior Unsecured Notes", and together with the Senior Secured Notes, the “Notes”). On July 2, 2012, the Company also entered into a $250,000 senior secured revolving credit facility (the "Revolver") and a $1,620,000 senior secured term loan facility, issued at a $30,000 discount, which accrues interest at floating rates (the “Term Loan Facility”); the interest rate on the Term Loan Facility was initially LIBOR plus 5.875% (subject to a 7.125% floor) and the interest rate on the Revolver was initially LIBOR plus 5.375%. A portion of the net proceeds from the Notes and the Term Loan Facility, together with cash on hand and equity contributions (See Note 12 – Equity), were used to extinguish the Company’s prior term loan facility and revolver, to finance the cash tender offer for and subsequent redemption of the Company’s prior senior secured notes, to pay the cash consideration for the AboveNet acquisition, and to pay associated fees and expenses. | |||||||
In connection with the debt extinguishment activities discussed above, the Company recognized an expense in July 2012 of $64,975 associated with debt extinguishment costs, including a cash expense of $39,798 associated with the payment of early redemption fees on the Company’s previous indebtedness and non-cash expenses of $17,032 associated with the write-off of the Company’s unamortized debt issuance costs and $8,145 associated with writing-off the net unamortized discount on the debt balances extinguished. | |||||||
On October 5, 2012, the Company and Zayo Capital entered into a second amendment (the “Second Amendment”) to the agreement governing its Term Loan Facility and Revolver (the "Credit Agreement"). Under the terms of the Second Amendment, effective October 5, 2012, the interest rate on the Term Loan Facility was adjusted to bear an interest rate at LIBOR plus 4.0% (subject to a 5.25%floor), which represented a decrease of 187.5 basis points from the original Credit Agreement. The Second Amendment also reduced the interest rate on the Revolver by 187.5 basis points. | |||||||
On February 27, 2013, the Company and Zayo Capital entered into a Fourth Amendment (the “Fourth Amendment”) to the Company's Credit Agreement. Under the terms of the Fourth Amendment, effective February 27, 2013, the interest rate on the Term Loan Facility was further adjusted to bear interest at LIBOR plus 3.5% (subject to a 4.5% floor). The amended terms represent a downward adjustment of 50 basis points on the spread and a further 25 basis point reduction in the minimum floor. Under the terms of the Fourth Amendment, the Revolver bore interest at LIBOR plus 3.00%, based on the Company’s current leverage ratio, which represented a 50 basis point reduction. The Fourth Amendment also amended certain terms and provisions of the Credit Agreement, including removing the senior secured and total leverage maintenance covenants and increasing the total leverage ratio required to be met in order to incur certain additional indebtedness from 5.00:1.00 to 5.25:1.00 as a multiple of EBITDA (as defined in the Credit Agreement). | |||||||
In connection with the aforementioned amendments, the Company incurred early redemption call premiums of $16,200 and $16,119 for the Second Amendment and Fourth Amendment, respectively. The early redemption call premiums were paid with cash on hand to the syndicate of creditors in the Term Loan Facility. Prior to the consummation of the amendments, the Company requested the consent of all creditors holding balances in the Term Loan Facility to the amended terms. $15,261 and $15,040 of the early call premium paid to consenting creditors in the Second and Fourth Amendments, respectively, have been accounted for as additional debt issuance costs for the modified obligations during the year ended June 30, 2013, which are being amortized over the term of the Term Loan Facility using the effective interest method. The remaining call premium of $939 and $1,079 associated with the Second and Fourth Amendments, respectively, that was paid to non-consenting creditors has been recorded as a loss on extinguishment of debt on the consolidated statements of operations for the year ended June 30, 2013. Existing and/or new creditors replaced the non-consented commitments such that the full amount of the Term Loan Facility's commitments were replaced in both the Second and Fourth Amendments. The principal payment of $344,452 to the non-consenting creditors is reflected on the consolidated statement of cash flows as a principal payment on long-term debt, and the corresponding $344,452 received from new creditors is reflected as proceeds from issuance of long-term debt. | |||||||
In connection with the Second and Fourth Amendments, the Company recognized an expense of $12,278 during the year ended June 30, 2013 associated with debt extinguishment costs. The loss on extinguishment of debt associated with the amendments includes the aforementioned early call premiums paid to non-consenting creditors, non-cash expense associated with the write off of unamortized debt issuance costs and issuance discounts on the debt balances accounted for as an extinguishment, and certain fees paid to third parties involved in the amendments. | |||||||
On November 26, 2013, Zayo Group, LLC (“ZGL”) and Zayo Capital, Inc. (“Zayo Capital”) entered into a Fifth Amendment (the “Fifth Amendment”) to the Company’s Credit Agreement. Under the terms of the Fifth Amendment, effective November 26, 2013, the Term Loan Facility was increased by $150,000 to $1,749,750, and the interest rate was adjusted to LIBOR plus 3.00% with a minimum LIBOR rate of 1.00%. The amended terms represented a downward adjustment of 50 basis points on the interest rate from the Fourth Amendment. The interest rate on the Revolver was amended to LIBOR plus 2.75% (based on the Company’s current leverage ratio), which represented a downward adjustment of 25 basis points on the interest rate from the Fourth Amendment. In connection with the Fifth Amendment, the Company did not incur an early redemption call. | |||||||
In connection with the Fifth Amendment, the Company recognized an expense of $1,911 associated with debt extinguishment costs, including cash expense of $955 related to third party costs and non-cash expense of $956 associated with the write-off of the Company’s unamortized debt issuance costs and discount on the Term Loan Facility accounted for as an extinguishment. The Company also incurred an additional $1,512 in debt issuance costs. | |||||||
On May 16, 2014, ZGL and Zayo Capital Inc. entered into a Sixth Amendment (the “Sixth Amendment”) to the Credit Agreement dated as of July 2, 2012 (as amended, the “Credit Agreement”). Per the terms of the Sixth Amendment, the Company’s $1,740,900 Term Loan Facility was increased by $275,000 to $2,015,900 and bears interest at the existing rate of LIBOR plus 3.0 percent with a minimum LIBOR rate of 1.0 percent. The $275,000 add-on was priced at 99.5 percent. No other terms of the Credit Agreement were amended. In connection with the Sixth Amendment, the Company incurred an additional $3,196 in debt issuance costs and $1,375 was recorded as a discount. | |||||||
The interest rates in effect on the Term Loan Facility and Revolver as of June 30, 2014 were 4.0% and 3.0%, respectively. The Revolver is subject to a commitment fee of 0.5% of the weighted-average unused capacity and outstanding letters of credit backed by the Revolver are subject to a 0.25% fee per annum. The Revolver has a maturity date of July 2017. | |||||||
The Term Loan Facility was issued at a discount of $30,000 and has a maturity date of July 2019. The issue discount is being amortized to interest expense over the term of the loan. The terms of the Term Loan Facility require the Company to make quarterly principal payments of $5,113 plus an annual payment of up to 50% of excess cash flow, as determined in accordance with the Credit Agreement (no such payment was required during the years ended June 30, 2014 and 2013). | |||||||
As of June 30, 2014, no amounts were outstanding on the Revolver. Standby letters of credit were outstanding in the amount of $6,428 as of June 30, 2014, leaving $243,572 available under the Revolver as of June 30, 2014. Outstanding letters of credit backed by the Revolver accrue interest at a rate ranging from LIBOR plus 2.0% to LIBOR plus 3.0% per annum based upon the Company’s leverage ratio. | |||||||
Debt covenants | |||||||
The Credit Agreement, as amended, contains a covenant that requires the Company to maintain a minimum fixed-charge coverage ratio. Pursuant to the Credit Agreement, the Company shall not permit its Fixed Charge Coverage Ratio, which is defined in the Credit Agreement as the ratio of the Company's annualized modified EBITDA (as defined in the Credit Agreement) during the most recent quarter minus Capital Expenditures (as defined in the Credit Agreement) for the twelve month period ended as of the end of each applicable fiscal quarter to interest expense for that same period to be less than the minimum ratio for the applicable period set forth below: | |||||||
Fiscal Quarters Ending | Minimum | ||||||
Ratio | |||||||
September 30, 2014, December 31, 2014 and March 31, 2015 | 2.00 to 1.0 | ||||||
June 30, 2015, September 30, 2015 and December 31, 2015 | 2.25 to 1.0 | ||||||
March 31, 2016, June 30, 2016 and September 30, 2016 | 2.50 to 1.0 | ||||||
December 31, 2016 and for each fiscal quarter thereafter | 2.75 to 1.0 | ||||||
The Credit Agreement also requires the Company and its subsidiaries to comply with customary affirmative and negative covenants, including covenants restricting the ability of the Company and its subsidiaries, subject to specified exceptions, to incur additional indebtedness, make additional guaranties, incur additional liens on assets, or dispose of assets, pay dividends, or make other distributions, voluntarily prepay certain other indebtedness, enter into transactions with affiliated persons, make investments and amend the terms of certain other indebtedness. | |||||||
The Credit Agreement contains customary events of default, including among others, non-payment of principal, interest, or other amounts when due, inaccuracy of representations and warranties, breach of covenants, cross default to certain other indebtedness, insolvency or inability to pay debts, bankruptcy, or a change of control. | |||||||
The indentures governing the Notes (the "Indentures") limit any increase in the Company's secured indebtedness (other than certain forms of secured indebtedness expressly permitted under the indentures) to a pro forma secured debt ratio of 4.5 times the Company's previous quarter's annualized modified EBITDA, as defined in the Indentures, and limit the Company's incurrence of additional indebtedness to a total indebtedness ratio of 5.25 times the previous quarter's annualized modified EBITDA. | |||||||
The Credit Agreement and Indentures contain certain restrictions on the ability of the Company and its subsidiaries to pay dividends to CII. | |||||||
The Company was in compliance with all covenants associated with its debt agreements as of June 30, 2014 and 2013. | |||||||
Redemption rights | |||||||
At any time prior to July 1, 2015 (for the Senior Secured Notes) and July 1, 2016 (for the Senior Unsecured Notes), the Company may redeem all or part of the Notes at a redemption price equal to the sum of (i) 100% of the principal amount thereof, plus (ii) accrued interest and a "make-whole" premium, which is a lump sum payment derived from a formula based on the net present value of future coupon payments that will not be paid because of the early redemption. | |||||||
On or after July 1, 2015 (for the Senior Secured Notes) or July 1, 2016 (for the Senior Unsecured Notes) the Company may redeem all or part of the Notes, at the redemption prices (expressed as percentages of principal amount and set forth below), plus accrued and unpaid interest and additional interest, if any, thereon, to the applicable redemption date, subject to the rights of the holders of the Notes on the relevant record date to receive interest due on the relevant interest payment date, if redeemed during the 12-month period beginning on July 1 of the years indicated below: | |||||||
Year | Redemption Price | ||||||
(Senior Secured Notes) | |||||||
2015 | 104.06% | ||||||
2016 | 102.03% | ||||||
2017 and thereafter | 100.00% | ||||||
Year | Redemption Price | ||||||
(Senior Unsecured Notes) | |||||||
2016 | 105.06% | ||||||
2017 | 102.53% | ||||||
2018 and thereafter | 100.00% | ||||||
In the event of an equity offering to the public, at any time prior to July 1, 2015, the Company may redeem up to 35% of the aggregate principal amount of the Notes issued under the Indentures at a redemption price of 108.125% (for the Senior Secured Notes) and 110.125% (for the Senior Unsecured Notes) of the principal amount thereof, plus accrued and unpaid interest and additional interest, if any, thereon to the redemption date, subject to the rights of the holders of the Notes on the relevant record date to receive interest due on the relevant interest payment date, with the net cash proceeds of one or more equity offerings, provided that (i) at least 65% of the aggregate principal amount of the Notes issued under each of the Indentures remains outstanding immediately after the occurrence of such redemption and (ii) the redemption occurs within 90 days of the date of the closing of such equity offering. | |||||||
The Company may purchase the Notes in open-market transactions, tender offers, or otherwise. The Company is not required to make any mandatory redemption or sinking fund payments with respect to the Notes. | |||||||
The Company may voluntarily make prepayments against the principal balance of the Term Loan Facility without paying a premium. | |||||||
Aggregate future contractual maturities of long-term debt (excluding issue discounts and premiums) were as follows as of June 30, 2014: | |||||||
Year Ended June 30, | |||||||
2015 | 20,450 | ||||||
2016 | 20,450 | ||||||
2017 | 20,450 | ||||||
2018 | 20,450 | ||||||
2019 | 20,450 | ||||||
Thereafter | 3,158,526 | ||||||
Total | $ | 3,260,776 | |||||
Guarantees | |||||||
The Notes are fully and unconditionally guaranteed, jointly and severally, on a senior secured basis by all of the Company’s current and future domestic restricted subsidiaries. The Notes were co-issued with Zayo Capital which does not have independent assets or operations. | |||||||
Debt issuance costs | |||||||
In connection with the Notes offering, Revolver and the amended Term Loan Facility and subsequent Fiscal 2013 and Fiscal 2014 amendments, the Company incurred debt issuance costs of $114,796 (net of extinguishments). These costs are being amortized to interest expense over the respective terms of the underlying debt instruments using the effective interest method, unless extinguished earlier, at which time the related unamortized costs are immediately expensed. | |||||||
Unamortized debt issuance costs of $19,706 and $22,561 associated with the Company’s previous indebtedness were recorded as part of the loss on extinguishment of debt during the year ended June 30, 2013 upon the settlement of the Company’s previous debt obligations in July 2012 and material amendment to the Company's existing debt obligations in October 2012 and February 2013, respectively. Unamortized debt issuance costs of $675 were recorded as part of the loss on extinguishment of debt during the year ended June 30, 2014 associated with the amendment of the Company’s existing debt obligations in November 2013. The balance of debt issuance costs as of June 30, 2014 and 2013 was $89,380 and $99,098, net of accumulated amortization of $25,416 and $11,482, respectively. Interest expense associated with the amortization of debt issuance costs was $13,917, $11,482, and $3,441 for the years ended June 30, 2014, 2013 and 2012, respectively. The amortization of debt issuance costs is included on the consolidated statements of cash flows within the caption “non-cash interest expense” along with the amortization or accretion of the premium or discount on the Company’s indebtedness and changes in the fair value of the Company's interest rate derivatives. | |||||||
Interest rate derivatives | |||||||
On August 13, 2012, the Company entered into forward-starting interest rate swap agreements with an aggregate notional value of $750,000, a maturity date of June 30, 2017, and a start date of June 30, 2013. There were no up-front fees for these agreements. The contract states that the Company shall pay a 1.67% fixed rate of interest for the term of the agreement beginning on the start date. The counter-party will pay to the Company the greater of actual LIBOR or 1.25%. The Company entered in to the forward-starting swap arrangements to reduce the risk of increased interest costs associated with potential changes in LIBOR rates. | |||||||
Changes in the fair value of interest rate swaps are recorded in interest expense in the consolidated statements of operations for the applicable period. During the year ended June 30, 2013, $2,642 was recorded as a reduction in interest expense for the change in the fair value of the interest rate swaps. The fair value of the interest rate swaps of $2,642 is included in “Other long term assets” in the Company’s consolidated balance sheet as of June 30, 2013. During the year ended June 30, 2014, $4,656 was recorded as an increase in interest expense for the change in the fair value of the interest rate swaps. The fair value of the interest rate swaps of $2,014 is included in “Other long term liabilities” in the Company’s consolidated balance sheet as of June 30, 2014. |
Income_Taxes
Income Taxes | 12 Months Ended | ||||||||||||
Jun. 30, 2014 | |||||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||||
Income Taxes | ' | ||||||||||||
INCOME TAXES | |||||||||||||
The Company, a limited liability company, is taxed at the Holdings level. All income tax balances resulting from the operations of Zayo Group, on a separate return basis, are reflected in these consolidated financial statements. | |||||||||||||
The Company’s provision/(benefit) for income taxes from continuing operations is summarized as follows: | |||||||||||||
Year Ended June 30, | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Federal income taxes – current | $ | 6,155 | $ | — | $ | (625 | ) | ||||||
Federal income taxes – deferred | 24,287 | (25,598 | ) | 22,206 | |||||||||
Federal income taxes | 30,442 | (25,598 | ) | 21,581 | |||||||||
State income taxes – current | 3,642 | 1,661 | (945 | ) | |||||||||
State income taxes – deferred | 1,042 | (3,649 | ) | 8,921 | |||||||||
State income taxes | 4,684 | (1,988 | ) | 7,976 | |||||||||
Foreign income taxes – current | 3,336 | — | — | ||||||||||
Foreign income taxes – deferred | (613 | ) | 3,540 | — | |||||||||
Foreign income taxes | 2,723 | 3,540 | — | ||||||||||
Total provision/(benefit) for income taxes | $ | 37,849 | $ | (24,046 | ) | $ | 29,557 | ||||||
The United States and foreign components of (loss)/benefit from continuing operations before income taxes for each of the three years ended June 30, 2014, 2013 and 2012 are as follows: | |||||||||||||
Year ended June 30, | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
United States | $ | (9,048 | ) | $ | 15,840 | $ | — | ||||||
Foreign | (133,580 | ) | (184,451 | ) | 23,708 | ||||||||
Total | $ | (142,628 | ) | $ | (168,611 | ) | $ | 23,708 | |||||
The Company’s effective income tax rate differs from what would be expected if the federal statutory rate were applied to earnings before income taxes primarily because of certain expenses that represent permanent differences between book and tax expenses and deductions, such as stock-based compensation expense that is recorded as an expense for financial reporting purposes but is not deductible for tax purposes. | |||||||||||||
A reconciliation of the actual income tax provision and the tax computed by applying the U.S. federal rate to the earnings before income taxes during the years ended June 30, 2014, 2013 and 2012 are as follows: | |||||||||||||
Year ended June 30, | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Expected (benefit)/provision at the statutory rate | $ | (49,859 | ) | $ | (59,046 | ) | $ | 8,298 | |||||
Increase due to: | |||||||||||||
Non-deductible stock-based compensation | 96,342 | 35,576 | 8,685 | ||||||||||
State income taxes (benefit)/provision, net of federal benefit | (6,519 | ) | (2,201 | ) | 5,184 | ||||||||
Transactions costs not deductible for tax purposes | 759 | 1,257 | 1,416 | ||||||||||
Provision/(reversal) for uncertain tax positions, net | (2,600 | ) | — | 5,808 | |||||||||
State NOL adjustment | — | 2,788 | — | ||||||||||
Change in effective tax rate | (286 | ) | — | 459 | |||||||||
Change in valuation allowance | 1,284 | — | — | ||||||||||
Foreign tax rate differential | 991 | (2,264 | ) | — | |||||||||
Other, net | (2,263 | ) | (156 | ) | (293 | ) | |||||||
Provision/(benefit) for income taxes | $ | 37,849 | $ | (24,046 | ) | $ | 29,557 | ||||||
Deferred income taxes reflect the tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. | |||||||||||||
The tax effect of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities are as follows: | |||||||||||||
As of June 30, | |||||||||||||
2014 | 2013 | ||||||||||||
Deferred income tax assets | |||||||||||||
Net operating loss carry forwards | $ | 418,157 | $ | 533,558 | |||||||||
Alternate minimum tax credit carryforwards | 6,175 | 181 | |||||||||||
Deferred revenue | 191,220 | 99,241 | |||||||||||
Accrued expenses | 22,176 | 19,573 | |||||||||||
Other liabilities | 4,367 | 5,108 | |||||||||||
Allowance for doubtful accounts | 6,261 | 3,203 | |||||||||||
Lease impairment liability | 3,212 | 4,017 | |||||||||||
Other | 2,076 | 3,931 | |||||||||||
Total deferred income tax assets | 653,644 | 668,812 | |||||||||||
Valuation allowance | (2,174 | ) | — | ||||||||||
Net deferred tax assets | 651,470 | 668,812 | |||||||||||
Deferred income tax liabilities | |||||||||||||
Property and equipment | 374,391 | 331,511 | |||||||||||
Intangible assets | 230,697 | 220,551 | |||||||||||
Debt issuance costs | 27,261 | 31,674 | |||||||||||
Total deferred income tax liabilities | 632,349 | 583,736 | |||||||||||
Net deferred income tax asset | $ | 19,121 | $ | 85,076 | |||||||||
As of June 30, 2014, the Company had $1,073,920 of federal net operating loss ("NOL") carry forwards utilizing approximately $297,965 during Fiscal 2014. The Company has completed several acquisitions in which it acquired net operating loss tax attributes as part of the purchase. These acquisitions, however, were considered a "change in ownership within the meaning of Section 382 of the Internal Revenue Code and, as a result, such NOL carryforwards are subject to an annual limitation, reducing the amount available to offset income tax liabilities absent the limitation. Currently available NOL carryforwards as of June 30, 2014 are approximately $613,971. An additional $192,734 will become available for use during fiscal year ended June 30, 2015. The Company's NOL carryfowards, if not utilized to reduce taxable income in future periods, will expire in various amounts beginning in 2020 and ending in 2032. | |||||||||||||
As of June 30, 2014, the Company had approximately $20,714 of foreign jurisdiction net operating loss carry forwards, primarily in the United Kingdom. The majority of these foreign jurisdiction net operating loss carry forwards do not expire. | |||||||||||||
As of June 30, 2014, the Company had tax-effected state net operating loss carry forwards of approximately $37,854, which are subject to limitations on their utilization and have various expiration dates through 2032. | |||||||||||||
Management believes it is more likely than not that it will utilize its net deferred tax assets to reduce or eliminate tax payments in future periods, with the exception of deferred tax assets related to a foreign subsidiary. The Company’s evaluation encompassed (i) a review of its recent history of taxable income for the past three years and (ii) a review of internal financial forecasts demonstrating its expected ability to fully utilize its deferred tax assets prior to expiration. | |||||||||||||
Release of Accrual for Uncertain Tax Position | |||||||||||||
During Fiscal 2014, the Company released an accrual of $2,600 related to an uncertain tax position previously recognized in connection with the Fibernet acquisition upon settlement of the matter with the Internal Revenue Service. The uncertain tax position was associated with a deduction taken for accelerated vesting of restricted stock units. This reduced the Company's estimated effective tax rate for the fiscal year ended June 30, 2014. The remaining accrual was recorded as a reduction of the deferred tax assets associated with the Company's net operating loss carryforwards. | |||||||||||||
Unrecognized tax benefits represent the aggregate tax effect of differences between tax return positions and the amounts otherwise recognized in the Company’s financial statements, and as a result of the substantial NOL carryforwards, are netted against the Company’s deferred tax asset balance in the consolidated balance sheets. A reconciliation of the beginning and ending amount of unrecognized tax benefits, excluding interest and penalties, is as follows: | |||||||||||||
2014 | 2013 | ||||||||||||
Balance, beginning of year | $ | 6,416 | $ | 6,416 | |||||||||
Decreases | (6,416 | ) | — | ||||||||||
Balance, end of year | $ | — | $ | 6,416 | |||||||||
Updated Presentation of Fiscal Year 2013 Deferred Tax Assets | |||||||||||||
During the third quarter of Fiscal 2014 in preparation with preparing the Form 10-Q, the Company identified an immaterial error in its classified presentation of deferred tax assets associated with its NOL carry forwards presented in the June 30, 2013 balance sheet included in the 2013 Annual Report on Form 10-K and Quarterly Reports on Form 10-Q for the quarters ended September 30, 2013 and December 31, 2013, which was corrected during the quarter ended March 31, 2014. Specifically, the Company did not classify deferred tax assets associated with available NOL carry forwards it projected to utilize within the following twelve months within current assets but rather recorded the entire deferred tax asset associated with its NOL carry forwards within non-current assets. The error did not impact the full year income tax (benefit)/provision nor the presentation and disclosure of income taxes paid. For comparative purposes, the Company has adjusted the June 30, 2013 balance sheet included in the Company's Condensed Consolidating Balance Sheets for the quarter ended March 31, 2014 to reclassify $59,756 of deferred tax assets from non-current Deferred income taxes, net to current Deferred income taxes, net. |
Accrued_Liabilities
Accrued Liabilities | 12 Months Ended | ||||||||
Jun. 30, 2014 | |||||||||
Accrued Liabilities [Abstract] | ' | ||||||||
Accrued Liabilities | ' | ||||||||
ACCRUED LIABILITIES | |||||||||
Accrued liabilities included in current liabilities consisted of the following: | |||||||||
Year Ended June 30, | |||||||||
2014 | 2013 | ||||||||
Accrued compensation and benefits | $ | 12,884 | $ | 10,357 | |||||
Accrued property and equipment purchases | 46,150 | 26,301 | |||||||
Network expense accruals | 70,157 | 46,704 | |||||||
Other accrued taxes | 9,307 | 11,095 | |||||||
Deferred lease obligations | 2,287 | 2,709 | |||||||
Accrued professional fees | 3,806 | 2,547 | |||||||
Other accruals | 13,925 | 16,219 | |||||||
Total | $ | 158,516 | $ | 115,932 | |||||
Equity
Equity | 12 Months Ended |
Jun. 30, 2014 | |
Stockholders' Equity Note [Abstract] | ' |
Equity | ' |
EQUITY | |
Zayo Group was initially formed on May 4, 2007, and is a wholly-owned subsidiary of Holdings, which in turn is wholly owned by CII. CII was organized on November 6, 2006, and subsequently capitalized on May 7, 2007, with capital contributions from various institutional and founder investors. The Company is controlled by the CII Board of Managers, which is in turn controlled by the members of CII in accordance with the rights specified in the CII Operating Agreement. | |
During the years ended June 30, 2014, 2013 and 2012, CII contributed $5,605, $345,013, and $134,796, respectively, in cash to the Company through Holdings. CII funded these amounts from equity contributions made by its investors. No equity contributions were made during the year ended June 30, 2014. | |
In connection with and prior to the acquisition of AboveNet, CII concluded the sale of 98,916,060.11 Class C Preferred Units of CII pursuant to certain securities purchase agreements with new private investment funds, as well as certain existing owners of CII and other investors. The total value of the Class C Preferred Units of CII sold pursuant to the securities purchase agreements was approximately $470,274, net of $1,976 in costs associated with raising the additional equity. In June 2012, $133,150 of the proceeds (net of fees) from the equity raised was contributed to the Company, and the remaining $337,124 was contributed during the year ended June 30, 2013. As of July 2, 2012, the equity commitments from CII’s investors had been fulfilled. | |
As discussed in Note 13 — Stock-Based Compensation, during the year ended June 30, 2012, the Board of CII authorized a non-liquidating distribution to certain common unit holders. The total amount of the aggregate distributions to employees of the Company was $9,080. The distribution was funded by CII, which was accounted for as a non-cash capital contribution to the Company from CII and is reflected as such in the consolidated statement of member’s equity for the year ended June 30, 2012. | |
During the year ended June 30, 2012, CII and the Company agreed to settle a related party payable due to CII in the amount of $15,541 via a non-cash equity contribution from CII. This contribution is reflected in the consolidated statement of member’s equity in the caption “Non-cash contributions/distributions from Parent, net/Distributions to Parent, net.” | |
As discussed in Note 3 - Acquisitions, CII issued 301,949 Class C preferred units of CII with an estimated fair value of $1,637 in connection with the Corelink acquisition during the first quarter of Fiscal 2014. | |
As discussed in Note 13 - Stock-Based Compensation, during the quarter ended December 31, 2013, the Board of CII authorized a non-liquidating distribution to certain common unit holders. The total amount of the aggregate distributions to employees of the Company was $8,797. The Company distributed $10,000 to Holdings, which made the distribution to the employees. The amount distributed to Holdings in excess of the amounts distributed to the employees is reflected as a distribution of $1,203 in the consolidated statement of member’s equity as "Distribution to Parent" during the quarter ended December 31, 2013. | |
Holdings is the taxable parent of the Company, Onvoy Voice Services, Inc. (“Onvoy”), and Zayo Professional Services ("ZPS"). Holdings allows for the sharing of Holdings’ NOL carry forwards between the Company, Onvoy and ZPS. To the extent that any entity utilizes NOLs or other tax assets that were generated or acquired by the other entity, the entities will settle the related-party transfer of deferred tax asset associated with such NOLs and other deferred-tax transfers between the companies via an increase or decrease to the respective entity’s member’s equity. During the years ended June 30, 2014, 2013 and 2012, the Company’s member’s equity balance decreased by $6,066, $4,217 and $3,402, respectively, as a result of transferring net deferred tax assets or liabilities to Onvoy and ZPS. |
StockBased_Compensation
Stock-Based Compensation | 12 Months Ended | ||||||||||||||||||||||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||||||||||||||||||||||
Share-based Compensation [Abstract] | ' | ||||||||||||||||||||||||||||||||||||
Stock-Based Compensation | ' | ||||||||||||||||||||||||||||||||||||
STOCK-BASED COMPENSATION | |||||||||||||||||||||||||||||||||||||
Liability Classified Awards | |||||||||||||||||||||||||||||||||||||
As of June 30, 2014, the Company has been given authorization by CII to award 625,000,000 of CII's common units as profits interests to employees and directors of the Company. | |||||||||||||||||||||||||||||||||||||
As of June 30, 2013, CII had eight classes of common units with different liquidation preferences - Class A through Class H units. During the year ended June 30, 2014, CII issued three additional classes of common units: Class I, Class J and Class K. Common units are issued to employees and to independent directors of the Company and are allocated by the Chief Executive Officer and the Board of Managers of CII on the terms and conditions specified in the employee or director equity agreement. The common units do not have voting rights. At June 30, 2014, 552,512,338 common units were issued and outstanding to employees and directors of the Company, and 72,487,662 common units were available to be issued. At June 30, 2013, 461,204,980 common units of CII were issued and outstanding to employees and directors of the Company. At June 30, 2012, 169,083,792 common units were issued and outstanding to employees and directors of the Company. | |||||||||||||||||||||||||||||||||||||
The common units are considered to be stock-based compensation with terms that require the awards to be classified as liabilities due to cash settlement features. As such, the Company accounts for the vested awards as a liability and re-measures the liability to fair value at each reporting date until the date of settlement. | |||||||||||||||||||||||||||||||||||||
As of June 30, 2014 and 2013, the estimated fair value of the common units was as follows: | |||||||||||||||||||||||||||||||||||||
As of June 30, | |||||||||||||||||||||||||||||||||||||
Common Unit Class | 2014 | 2013 | |||||||||||||||||||||||||||||||||||
(estimated per unit value) | |||||||||||||||||||||||||||||||||||||
Class A | $ | 2.47 | $ | 1.5 | |||||||||||||||||||||||||||||||||
Class B | 2.22 | 1.34 | |||||||||||||||||||||||||||||||||||
Class C | 1.92 | 1.14 | |||||||||||||||||||||||||||||||||||
Class D | 1.86 | 1.1 | |||||||||||||||||||||||||||||||||||
Class E | 1.62 | 0.95 | |||||||||||||||||||||||||||||||||||
Class F | 1.44 | 0.75 | |||||||||||||||||||||||||||||||||||
Class G | 0.82 | 0.46 | |||||||||||||||||||||||||||||||||||
Class H | 0.7 | 0.38 | |||||||||||||||||||||||||||||||||||
Class I | 0.45 | n/a | |||||||||||||||||||||||||||||||||||
Class J | 0.33 | n/a | |||||||||||||||||||||||||||||||||||
Class K | 0.29 | n/a | |||||||||||||||||||||||||||||||||||
The liability associated with the common units was $391,305 and $158,520 as of June 30, 2014 and 2013, respectively. The stock-based compensation expense associated with the common units was $252,930, $104,195, and $25,382 during the years ended June 30, 2014, 2013 and 2012, respectively. | |||||||||||||||||||||||||||||||||||||
The Company's stock-based compensation relates to employees functioning in the selling, general and administrative capacity. The Company presents stock-based compensation as a separate component of selling, general and administrative expenses on the consolidated statement of operations due to the size and volatility of the non-cash expense. | |||||||||||||||||||||||||||||||||||||
The holders of common units of CII are not entitled to transfer their units or receive dividends or distributions, except at the discretion of CII's Board of Managers. Upon a liquidation of CII, or upon a non-liquidating distribution, the holders of common units share in the proceeds after the capital contributions of the CII preferred unit holders plus their priority return of 6% per annum has been reimbursed. The remaining proceeds from a liquidation event are distributed between the preferred and common unit holders on a scale ranging from 85% to the preferred unit holders and 15% to the common unit holders to 80% to the preferred unit holders and 20% to the common unit holders. The percentage allocated to the common unit holders is dependent upon the return multiple realized by the preferred unit holders as defined in CII's operating agreement. The maximum incremental allocation of proceeds from a liquidation event to common unit holders of 20% occurs if the return multiple realized by a preferred unit holder reaches 3.5 times each respective preferred holder's combined capital contributions. | |||||||||||||||||||||||||||||||||||||
Each class of common units has a liquidation threshold. Holders of a respective class of common units begin to receive a portion of the proceeds from a liquidity event once the aggregate distributions previously made with respect to issued common units of earlier classes are equal to or greater than the respective common unit classes liquidation threshold. Common unit holders of each of the following classes begin sharing in the proceeds of a liquidation event once the total amount distributed to earlier classes reaches the following liquidation thresholds: | |||||||||||||||||||||||||||||||||||||
Common Unit Class | Liquidation Threshold | ||||||||||||||||||||||||||||||||||||
Class A | $ | — | |||||||||||||||||||||||||||||||||||
Class B | 15,000 | ||||||||||||||||||||||||||||||||||||
Class C | 40,000 | ||||||||||||||||||||||||||||||||||||
Class D | 45,000 | ||||||||||||||||||||||||||||||||||||
Class E | 75,000 | ||||||||||||||||||||||||||||||||||||
Class F | 95,000 | ||||||||||||||||||||||||||||||||||||
Class G | 235,000 | ||||||||||||||||||||||||||||||||||||
Class H | 290,000 | ||||||||||||||||||||||||||||||||||||
Class I | 435,000 | ||||||||||||||||||||||||||||||||||||
Class J | 515,000 | ||||||||||||||||||||||||||||||||||||
Class K | 545,000 | ||||||||||||||||||||||||||||||||||||
In December 2011, CII and the preferred unit holders of CII authorized a non-liquidating cash distribution to common unit holders of up to $10,000. The eligibility for receiving proceeds from this distribution was determined by the liquidation preference of the unit holder. Receiving proceeds from the authorized distribution was at the election of the common unit holder. As a condition of the early distribution, common unit holders electing to receive an early distribution received 85% of the amount that they would otherwise be entitled to receive if the distribution were in connection with a liquidating distribution. The common unit holders electing to receive the early distribution will retain all of their common units and be entitled to receive future distributions only to the extent such future distributions are in excess of the non-liquidating distribution, before applying the 15% discount. During the year ended June 30, 2012, $9,080 was distributed to the Company’s common unit holders as a result of the December 2011 non-liquidating distributions. The distribution was paid by CII and is reflected in the Company’s consolidated statement of member’s equity as a capital contribution (non-cash) with a corresponding reduction in the stock-based compensation liability, as the associated expense for the common unit grants was previously recognized. Common unit holders electing to receive the early distribution forfeited $1,615 in previously recognized stock-based compensation which had the effect of reducing stock-based compensation expense during the year ended June 30, 2012. | |||||||||||||||||||||||||||||||||||||
In June 2012, the Board of CII and the preferred unit holders of CII authorized an additional non-liquidating cash distribution in the amount of $7,000 to the Company’s Chief Executive Officer. The officer retained all of his common units and is entitled to receive future distributions only to the extent such future distributions are in excess of the $7,000 non-liquidating distribution. | |||||||||||||||||||||||||||||||||||||
In September 2013, the Board of CII authorized a non-liquidating cash distribution to certain common unit holders of up to $10,000. The eligibility for receiving proceeds from this distribution was determined by the liquidation preference of the unit holder. Receiving proceeds from the authorized distribution was at the election of the common unit holder. As a condition of the early distribution, common unit holders electing to receive an early distribution received 90% of the amount that they would otherwise be entitled to receive if the distribution were in connection with a liquidating distribution. The common unit holders electing to receive the early distribution retained all of their common units and are entitled to receive future distributions only to the extent such future distributions are in excess of the non-liquidating distribution, before applying the 10% discount. During the second quarter of Fiscal 2014, $8,797 was distributed to CII’s common unit holders as a result of the non-liquidating distributions, with a corresponding reduction in the stock-based compensation liability as the associated expense was previously recognized. The distribution was funded by the Company through a $10,000 distribution to Holdings, which paid the distribution to the employees. The amount distributed to Holdings in excess of the amounts distributed to the employees is reflected as a distribution of $1,203 in the consolidated statement of member’s equity as "Distribution to Parent" during the quarter ended December 31, 2013. Common unit holders electing to receive the early distribution forfeited $977 in previously recognized stock-based compensation, which had the effect of reducing stock-based compensation expense recognized during the second quarter of Fiscal 2014. | |||||||||||||||||||||||||||||||||||||
In February 2014, the Board of CII approved an advance distribution of cash to the Company's Chief Executive Officer, Dan Caruso, in respect of his common units in the amount of $3,000 pursuant to a new compensation agreement. This advance distribution was funded by the Company through a $3,000 distribution to Holdings, which paid the distribution to Mr. Caruso, with a corresponding reduction in the stock-based compensation liability as the associated expense was previously recognized. | |||||||||||||||||||||||||||||||||||||
In May 2014, the Board of CII approved a redemption for cash of the common units held by a member of the Company’s management team in respect of his vested common units in the amount of $9,050. This advance distribution was funded by the Company through a $9,050 distribution to Holdings, which paid the distribution, with a corresponding reduction in the stock-based compensation liability as the associated expense for this individual’s vested common unit grants was previously recognized. | |||||||||||||||||||||||||||||||||||||
The following table represents the activity as it relates to common unit issuances and forfeitures during the years ended June 30, 2014, 2013 and 2012. | |||||||||||||||||||||||||||||||||||||
Class A | Class B | Class C | Class D | Class E | Class F | Class G | Class H | Class I | Class J | Class K | Totals | ||||||||||||||||||||||||||
Balance at June 30, 2011 | 47,097,128 | 17,247,520 | 2,787,718 | 32,389,470 | 10,290,905 | — | — | — | — | — | — | 109,812,741 | |||||||||||||||||||||||||
Common units issued | — | — | — | — | — | 63,450,000 | — | — | — | — | — | 63,450,000 | |||||||||||||||||||||||||
Common units forfeited | — | (318,749 | ) | (610,936 | ) | (1,740,931 | ) | (808,333 | ) | (700,000 | ) | — | — | — | — | — | (4,178,949 | ) | |||||||||||||||||||
Balance at June 30, 2012 | 47,097,128 | 16,928,771 | 2,176,782 | 30,648,539 | 9,482,572 | 62,750,000 | — | — | — | — | — | 169,083,792 | |||||||||||||||||||||||||
Common units issued | — | — | — | — | — | 2,500,000 | 192,747,213 | 118,930,832 | — | — | — | 314,178,045 | |||||||||||||||||||||||||
Common units forfeited | (50,000 | ) | (42,917 | ) | (24,999 | ) | (732,944 | ) | (51,389 | ) | (3,038,056 | ) | (17,001,364 | ) | (1,115,188 | ) | — | — | — | (22,056,857 | ) | ||||||||||||||||
Balance at June 30, 2013 | 47,047,128 | 16,885,854 | 2,151,783 | 29,915,595 | 9,431,183 | 62,211,944 | 175,745,849 | 117,815,644 | — | — | — | 461,204,980 | |||||||||||||||||||||||||
Common units issued | — | — | — | — | — | — | — | 598,822 | 46,107,213 | 60,000,009 | 8,015,000 | 114,721,044 | |||||||||||||||||||||||||
Common units forfeited | — | — | — | (23,000 | ) | (58,334 | ) | (365,547 | ) | (4,756,655 | ) | (3,755,033 | ) | (1,258,739 | ) | (687,472 | ) | — | (10,904,780 | ) | |||||||||||||||||
Common units cancelled | (1,421,667 | ) | (580,000 | ) | (250,000 | ) | (1,840,027 | ) | — | (1,300,000 | ) | (2,312,692 | ) | (3,198,495 | ) | (781,597 | ) | (824,428 | ) | — | (12,508,906 | ) | |||||||||||||||
Balance at June 30, 2014 | 45,625,461 | 16,305,854 | 1,901,783 | 28,052,568 | 9,372,849 | 60,546,397 | 168,676,502 | 111,460,938 | 44,066,877 | 58,488,109 | 8,015,000 | 552,512,338 | |||||||||||||||||||||||||
Vested Common Units | 45,625,461 | 16,305,854 | 1,901,783 | 28,052,568 | 9,372,849 | 46,975,841 | 108,632,421 | 48,947,369 | — | — | — | 305,814,146 | |||||||||||||||||||||||||
Unvested Common Units | — | — | — | — | — | 13,570,556 | 60,044,081 | 62,513,569 | 44,066,877 | 58,488,109 | 8,015,000 | 246,698,192 | |||||||||||||||||||||||||
As of June 30, 2014 and 2013, respectively, the Company had 246,698,192 and 271,035,055 common units that were unvested and outstanding. As of June 30, 2014, the fair value of unvested common units issued to employees and independent directors was $143,339. The unvested shares at June 30, 2014 will become fully vested over a three year period. | |||||||||||||||||||||||||||||||||||||
The Company utilizes a probability-weighted estimated return method ("PWERM") to value the common units. The method estimates the value of the units based on an analysis of values of the enterprise assuming various future outcomes. The estimated fair value of the common units is based on a probability-weighted present value of expected future proceeds to CII’s shareholders, considering certain potential liquidity scenarios available to CII’s investors as well as preferential rights of each security. This approach utilizes a variety of assumptions regarding the probability of a certain scenario occurring, if the event involves a transaction, the potential timing of such an event, and the potential valuation that each scenario might yield. The potential future outcomes that were considered by management were remaining a private company with the same ownership, a sale or merger, and an initial public offering (“IPO”). The income approach utilized under the remaining private scenario was based on management's projected future cash flows, which were discounted at a market participant weighted-average cost of capital. The market-based approach, utilized under the IPO and sale scenarios, estimates the fair value of CII’s equity based on observable multiples of revenue and EBITDA paid by investors and acquirers of interests of comparable companies in the public and private markets. These observable revenue and EBITDA multiples are applied to projected twelve-month revenue and EBITDA amounts at the dates of the potential exit events and discounted back using CII’s estimated cost of capital. The value attributable to each class of shares is then discounted in order to account for the lack of marketability of the units. | |||||||||||||||||||||||||||||||||||||
Equity Classified Awards | |||||||||||||||||||||||||||||||||||||
CII has issued preferred units to certain Zayo Group executives and directors as compensation. The terms of these preferred unit awards require the Company to record the award as an equity award. The Company estimates the fair value of these equity awards on the grant date and recognizes the related expense over the vesting period of the awards. As these awards have been issued by CII to employees and directors of the Company as compensation, the related expense has been recorded by the Company in the accompanying consolidated statements of operations. The Company recognized stock-based compensation expense and a related increase to the Company's member interest account of $431, $853, and $871 for the years ended June 30, 2014, 2013 and 2012, respectively. |
Fair_Value_Measurements
Fair Value Measurements | 12 Months Ended | |||||||||
Jun. 30, 2014 | ||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||
Fair Value Measurements | ' | |||||||||
FAIR VALUE MEASUREMENTS | ||||||||||
The Company’s financial instruments consist of cash and cash equivalents, restricted cash, trade receivables, accounts payable, interest rate swaps, long-term debt and stock-based compensation liability. The carrying values of cash and cash equivalents, restricted cash, trade receivables, and accounts payable approximated their fair values at June 30, 2014 and 2013 due to the short maturity of these instruments. | ||||||||||
The carrying value of the Company’s note obligations reflects the original amounts borrowed, net of unamortized discounts or premiums and was $1,250,000 and $1,250,000 as of June 30, 2014 and 2013, respectively. Based on market interest rates for debt of similar terms and average maturities, the fair value of the Company's notes as of June 30, 2014 and 2013 was estimated to be $1,294,750 and $1,364,375, respectively. The Company’s fair value estimates associated with its note obligations were derived utilizing Level 2 inputs – quoted prices for similar instruments in active markets. | ||||||||||
The carrying value of the Company’s term loan obligations reflects the original amounts borrowed, net of the unamortized discount and was $1,990,123 and $1,580,705 as of June 30, 2014 and 2013, respectively. The Company’s term loan accrues interest at variable rates based upon the one month, three month or six month LIBOR (with a LIBOR floor of 1.00%) plus a spread of 3.0%. Since management does not believe that the Company’s credit quality has changed significantly since the date the amended Term Loan Facility was entered into and subsequently repriced in November 2013, its carrying amount approximates fair value. Without giving effect to the Company's interest rate swaps, a hypothetical increase in the applicable interest rate on the Company’s term loan of one percentage point above the 1.0% LIBOR floor would increase the Company’s annual interest expense by approximately $20,108. | ||||||||||
The Company’s interest rate swaps are valued using discounted cash flow techniques that use observable market inputs, such as LIBOR-based yield curves, forward rates, and credit ratings. A change in the fair value of the interest rate swaps of $4,656 was recorded as an increase to interest expense during the year ended June 30, 2014. A hypothetical increase in LIBOR rates of 100 basis points would favorably increase the fair value of the interest rate swaps by approximately $15,234. | ||||||||||
As of June 30, 2014 and 2013, there is no balance currently outstanding under the Company's current Revolver. | ||||||||||
The Company records its interest rate swaps and stock-based compensation liability at their estimated fair value. Financial instruments measured at fair value on a recurring basis are summarized below: | ||||||||||
Level | 30-Jun-14 | 30-Jun-13 | ||||||||
Assets Recorded at Fair Value in the Financial Statements: | ||||||||||
Interest rate swap | Level 2 | $ | — | 2,642 | ||||||
Liabilities Recorded at Fair Value in the Financial Statements: | ||||||||||
Interest rate swap | Level 2 | $ | 2,014 | $ | — | |||||
Stock-based compensation liability | Level 3 | $ | 391,305 | $ | 158,520 | |||||
The Company’s stock-based compensation liability related to CII common unit grants to employees is measured at fair value each reporting date. Various assumptions are utilized in the valuation that impact the resulting fair values calculated for each grant class, the most sensitive of which is the enterprise valuation multiple used under each exit scenario. An increase of 1.0x in these multiples would increase the corresponding stock-based compensation expense and liability by approximately $57,070 as of June 30, 2014. |
Commitments_and_Contingencies
Commitments and Contingencies | 12 Months Ended | |||
Jun. 30, 2014 | ||||
Commitments and Contingencies Disclosure [Abstract] | ' | |||
Commitments And Contingencies | ' | |||
COMMITMENTS AND CONTINGENCIES | ||||
Capital Leases | ||||
Future contractual payments under the terms of the Company’s capital lease obligations were as follows: | ||||
Year Ended June 30, | ||||
2015 | $ | 4,012 | ||
2016 | 3,402 | |||
2017 | 4,580 | |||
2018 | 3,554 | |||
2019 | 3,224 | |||
Thereafter | 13,176 | |||
Total minimum lease payments | 31,948 | |||
Less amounts representing interest | (6,677 | ) | ||
Less current portion | (2,415 | ) | ||
Capital lease obligations, non-current | $ | 22,856 | ||
Operating Leases | ||||
The Company leases office space, warehouse space, network assets, switching and transport sites, points of presence and equipment under non-cancelable operating leases. Lease expense was $83,488, $87,090 and $45,885 for the years ended June 30, 2014, 2013 and 2012, respectively. | ||||
For scheduled rent escalation clauses during the lease terms or for rental payments commencing at a date other than the date of initial occupancy, the Company records minimum rental expenses on a straight-line basis over the terms of the leases. When the straight-line expense recorded exceeds the cash outflows during the respective period, the Company records a deferred lease obligation on the consolidated balance sheets and amortizes the deferred rent over the terms of the respective leases. | ||||
Minimum contractual lease payments due under the Company’s long-term operating leases are as follows | ||||
Year Ended June 30, | ||||
2015 | $ | 96,492 | ||
2016 | 80,752 | |||
2017 | 68,355 | |||
2018 | 60,309 | |||
2019 | 50,293 | |||
Thereafter | 497,883 | |||
$ | 854,084 | |||
Lease Termination Costs | ||||
In connection with integration activities associated with acquisitions completed during Fiscal 2012 and 2013, the Company completed an analysis of existing and acquired facilities leases and determined that certain facilities under lease would not be used by the Company in the future. During the fourth quarter of 2013, the Company recorded a charge for lease termination costs totaling $10,360 related to exit activities initiated for unutilized space associated with leased office and technical facilities, which was partially offset by a benefit related to the release of associated rent escalation accrual in the amount of $163. The net lease termination charge recorded during the year ended June 30, 2013 was $10,197. The charge has been included in operating costs and selling, general and administrative expenses for Fiscal 2013. As of June 30, 2013 and 2014, the remaining lease termination obligation associated with these facilities was $10,073 and $8,053, respectively, which is recorded net of expected sublease income of $2,952 and $2,254, respectively. The Company periodically re-evaluates its assumptions used to estimate this obligation and may record adjustments prospectively as facts or circumstances change related to the impaired leased facilities. | ||||
A summary of the lease termination charges and related activity follows: | ||||
Lease Termination Liability (in thousands) | ||||
Balance as of June 30, 2012 | $ | — | ||
Charges | 10,360 | |||
Accretion | 3 | |||
Payments | (290 | ) | ||
Balance as of June 30, 2013 | 10,073 | |||
Change in assumption | (41 | ) | ||
Accretion | 89 | |||
Payments | (2,068 | ) | ||
Balance as of June 30, 2014 | 8,053 | |||
Less current portion | 1,707 | |||
Lease termination liability- long term | $ | 6,346 | ||
Purchase Commitments | ||||
At June 30, 2014, the Company was contractually committed for $157,105 of capital expenditures for construction materials and purchases of property and equipment. A majority of these purchase commitments are expected to be satisfied in the next twelve months. These purchase commitments are primarily success based; that is, the Company has executed customer contracts that support the future capital expenditures. | ||||
Outstanding Letters of Credit | ||||
As of June 30, 2014, the Company had $6,428 in outstanding letters of credit, which were primarily entered into in connection with various lease agreements. | ||||
Other Commitments | ||||
In February 2010, the Company was awarded an NTIA BTOP grant for a fiber network project in Indiana (the “Indiana Stimulus Project”). The Indiana Stimulus Project involves approximately $31,425 of capital expenditures, of which $25,100 was funded by a government grant and approximately $6,285 was funded by the Company. In connection with this project, 626 route miles of fiber were constructed and lit. The Company began capitalizing certain pre-construction costs associated with this project in April 2010 and began receiving grant funds in May 2010. The Company was reimbursed for $96 of expenses and $23,786 of capital expenditures related to the Indiana Stimulus Project. The Company also contributed $4,400 of pre-existing network assets to the project. The Company completed this project on July 31, 2013. | ||||
In July 2010, the Company was awarded from the NTIA BTOP a $13,383 grant to construct 286 miles of fiber network in Anoka County, Minnesota, outside of Minneapolis (the “Anoka Stimulus Project”). The Anoka Stimulus Project involves approximately $19,117 of capital expenditures, of which $13,383 is to be funded by a government grant and approximately $5,735 is to be funded by the Company. The Company was reimbursed for $121 of expenses and $11,646 of capital expenditures related to the Anoka Stimulus Project. The project was completed in December 2013. | ||||
In September 2011, the Company signed a sub-recipient agreement on an award granted to Com Net, Inc. (“Com Net”) from the NTIA BTOP. The award of approximately $30,032 to Com Net will expand broadband services to rural and underserved communities in Western Ohio. In order to effectively implement the project, Com Net established the GigE Plus Availability Coalition consisting of the Company, OARnet and an initial group of 33 Broadband Service Providers to deploy broadband to 28 Western Ohio counties. Upon completion, the project will add nearly 366 new miles of fiber to the Company’s existing Ohio network. As a sub recipient, the Company is required to contribute to the federal match. The Company’s maximum contribution is $3,111 which represents a 30% match on the assets to which the Company will take ownership. As of June 30, 2014, the Company has incurred $476 in capital expenditures associated with this project. We anticipate the project will be completed by September 2014. | ||||
Contingencies | ||||
In the normal course of business, the Company is party to various outstanding legal proceedings, asserted and unasserted claims, and carrier disputes. In the opinion of management, the ultimate disposition of these matters, both asserted and unasserted, will not have a material adverse effect on the Company’s financial condition, results of operations, or cash flows. |
Segment_Reporting
Segment Reporting | 12 Months Ended | |||||||||||||||
Jun. 30, 2014 | ||||||||||||||||
Segment Reporting [Abstract] | ' | |||||||||||||||
Segment Reporting | ' | |||||||||||||||
SEGMENT REPORTING | ||||||||||||||||
An operating segment is a component of an entity that has all of the following characteristics: | ||||||||||||||||
• | It engages in business activities from which it may earn revenues and incur expenses. | |||||||||||||||
• | Its operating results are regularly reviewed by the entity’s chief operating decision maker to make decisions about resources to be allocated to the segment and assess its performance. | |||||||||||||||
• | Its discrete financial information is available. | |||||||||||||||
The Company’s chief operating decision maker is its Chief Executive Officer. | ||||||||||||||||
The Company uses the management approach to determine the segment financial information that should be disaggregated and presented separately in the Company’s notes to its financial statements. The management approach is based on the manner by which management has organized the segments within the Company for making operating decisions, allocating resources, and assessing performance. The Company evaluates performance and makes decisions about allocating resources to its operating segments based on financial measures such as revenue and adjusted EBITDA (as defined below). | ||||||||||||||||
The Company’s seven SPGs are organized into two reportable segments based on the similarities of business activities: Physical Infrastructure and Lit Services. The Physical Infrastructure reporting segment is comprised of the following SPGs: Dark Fiber, Mobile Infrastructure, and zColo. The Lit Services reporting segment is comprised of the following SPGs: Wavelengths, Ethernet, IP and SONET. SPGs report directly to the segment managers who are responsible for the operations and financial results for the Physical Infrastructure and Lit Services. The segment managers for each of the Physical Infrastructure and Lit Services reportable segments report directly to the CODM, and it is the financial results of those segments that are evaluated and drive the resource allocation decisions. | ||||||||||||||||
The Company’s two reportable segments are described below: | ||||||||||||||||
Physical Infrastructure. Through the Physical Infrastructure segment, the Company provides raw bandwidth infrastructure to customers that require more control of their internal networks. These services include dark fiber, mobile infrastructure (fiber-to-the-tower and small cell), and colocation and interconnection. Dark fiber is a physically separate and secure, private platform for dedicated bandwidth. The Company leases dark fiber pairs (usually 2 to 12 total fibers) to its customers, who “light” the fiber using their own optronics. The Company’s mobile infrastructure services provide direct fiber connections to cell towers, small cells, hub sites, and mobile switching centers. The Company’s datacenters offer colocation and interconnection services to its customers, who then house and power the Company’s computing and networking equipment for the purpose of aggregating and distributing data, voice, Internet, and video traffic. Physical Infrastructure customers include carriers and other communication service providers, Internet service providers, wireless service providers, major media and content companies, large enterprises, and other companies that have the expertise to run their own fiber optic networks or require interconnected technical space. The contract terms in the Physical Infrastructure segment generally tend to range from three to twenty years. | ||||||||||||||||
Lit Services. The Lit Services segment provides bandwidth infrastructure solutions over the Company’s metro, regional, and long-haul fiber networks where it uses optronics to light the fiber and the Company’s customers pay for access based on the amount and type of bandwidth they purchase. The Company’s lit services include wavelength, Ethernet, IP, and SONET services with capacity ranging from 1.54Mb to 100G. The Company targets customers who require a minimum of 10G of bandwidth across their networks. Lit Services customers include carriers, financial services companies, healthcare, government institutions, education institutions and other enterprises. The contract terms in this segment tend to range from two to five years. | ||||||||||||||||
Revenues for all of the Company’s products are included in one of the Company’s two reportable segments. The results of operations for each reportable segment include an allocation of certain indirect costs and corporate related costs, including overhead and third party-financed debt. The allocation is based on a percentage that represents management’s estimate of the relative burden each segment bears of indirect and corporate costs. Management has evaluated the allocation methods utilized to allocate these costs and determined they are systematic and rational. Identifiable assets for each reportable segment are reconciled to total consolidated assets including unallocated corporate assets and intersegment eliminations. Unallocated corporate assets consist primarily of cash and deferred taxes. The following tables summarize financial information of each of the segments: | ||||||||||||||||
Segment Adjusted EBITDA | ||||||||||||||||
Segment Adjusted EBITDA is the primary measure used by the Company’s CODM to evaluate segment operating performance. | ||||||||||||||||
The Company defines Segment Adjusted EBITDA as earnings from continuing operations before interest, income taxes, depreciation and amortization (“EBITDA”) adjusted to exclude acquisition or disposal-related transaction costs, losses on extinguishment of debt, stock-based compensation, unrealized foreign currency gains on an intercompany loan, and impairment of cost method investment. The Company uses Segment Adjusted EBITDA to evaluate operating performance, and this financial measure is among the primary measures used by management for planning and forecasting of future periods. The Company believes that the presentation of Segment Adjusted EBITDA is relevant and useful for investors because it allows investors to view results in a manner similar to the method used by management and facilitates comparison of the Company’s results with the results of other companies that have different financing and capital structures. | ||||||||||||||||
Segment Adjusted EBITDA results, along with other quantitative and qualitative information, are also utilized by the Company and its Compensation Committee for purposes of determining bonus payouts to employees. | ||||||||||||||||
Segment Adjusted EBITDA has limitations as an analytical tool and should not be considered in isolation from, or as a substitute for, analysis of the Company’s results from operations and operating cash flows as reported under GAAP. For example, Segment Adjusted EBITDA: | ||||||||||||||||
• | does not reflect capital expenditures, or future requirements for capital and major maintenance expenditures or contractual commitments; | |||||||||||||||
• | does not reflect changes in, or cash requirements for, working capital needs; | |||||||||||||||
• | does not reflect the significant interest expense, or the cash requirements necessary to service the interest payments, on the Company’s debt; and | |||||||||||||||
• | does not reflect cash required to pay income taxes. | |||||||||||||||
The Company’s computation of Segment Adjusted EBITDA may not be comparable to other similarly titled measures computed by other companies because all companies do not calculate segment Adjusted EBITDA in the same fashion. | ||||||||||||||||
For the year ended June 30, 2014 | ||||||||||||||||
Physical Infrastructure | Lit Services | Corp/ | Total | |||||||||||||
elimination | ||||||||||||||||
Revenue from external customers | $ | 498,235 | $ | 608,675 | $ | — | $ | 1,106,910 | ||||||||
Segment Adjusted EBITDA | $ | 325,646 | $ | 326,654 | $ | 29 | $ | 652,329 | ||||||||
Total assets | $ | 2,851,766 | $ | 1,739,139 | $ | 413,682 | $ | 5,004,587 | ||||||||
Capital expenditures, net of stimulus grant reimbursements | $ | 209,147 | $ | 151,610 | $ | — | $ | 360,757 | ||||||||
For the year ended June 30, 2013 | ||||||||||||||||
Physical infrastructure | Lit services | Corp/elimination | Total | |||||||||||||
Revenue from external customers | $ | 416,277 | $ | 573,335 | $ | (1,527 | ) | $ | 988,085 | |||||||
Segment Adjusted EBITDA | $ | 276,188 | $ | 278,355 | $ | (1,561 | ) | $ | 552,982 | |||||||
Total assets | $ | 2,300,599 | $ | 1,685,510 | $ | 141,782 | $ | 4,127,891 | ||||||||
Capital expenditures, net of stimulus grant reimbursements | $ | 180,261 | $ | 142,940 | $ | — | $ | 323,201 | ||||||||
For the year ended June 30, 2012 | ||||||||||||||||
Physical infrastructure | Lit services | Corp/elimination | Total | |||||||||||||
Revenue from external customers | $ | 157,419 | $ | 224,624 | $ | — | $ | 382,043 | ||||||||
Segment Adjusted EBITDA | $ | 101,060 | $ | 92,120 | $ | 1,340 | $ | 194,520 | ||||||||
Total assets | $ | 611,777 | $ | 483,755 | $ | 276,572 | $ | 1,372,104 | ||||||||
Capital expenditures, net of stimulus grant reimbursements | $ | 38,809 | $ | 85,328 | $ | — | $ | 124,137 | ||||||||
Reconciliation from Total Segment Adjusted EBITDA to net earnings/(loss) from continuing operations before income taxes | ||||||||||||||||
For the year ended June 30, | ||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||
Total Segment Adjusted EBITDA | $ | 652,329 | $ | 552,982 | $ | 194,520 | ||||||||||
Interest expense | (203,508 | ) | (202,464 | ) | (50,720 | ) | ||||||||||
Depreciation and amortization expense | (336,407 | ) | (322,680 | ) | (84,961 | ) | ||||||||||
Transaction costs | (4,495 | ) | (14,204 | ) | (6,630 | ) | ||||||||||
Impairment of cost method investment | — | — | (2,248 | ) | ||||||||||||
Stock-based compensation | (253,361 | ) | (105,048 | ) | (26,253 | ) | ||||||||||
Loss on extinguishment of debt | (1,911 | ) | (77,253 | ) | — | |||||||||||
Unrealized foreign currency translation gain | 4,725 | 56 | — | |||||||||||||
Net (loss)/earnings from continuing operations before provision for income taxes | $ | (142,628 | ) | $ | (168,611 | ) | $ | 23,708 | ||||||||
The following is a summary of geographical information (dollars in thousands): | ||||||||||||||||
For the year ended June 30, | ||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||
Revenue from external customers: | ||||||||||||||||
United States | $ | 1,036,501 | $ | 930,233 | $ | 382,043 | ||||||||||
United Kingdom | 70,271 | 57,488 | — | |||||||||||||
Japan | 138 | 364 | — | |||||||||||||
$ | 1,106,910 | $ | 988,085 | $ | 382,043 | |||||||||||
Long-lived assets: | ||||||||||||||||
United States | $ | 3,135,253 | $ | 3,055,917 | $ | 961,921 | ||||||||||
United Kingdom | 488,658 | 120,221 | — | |||||||||||||
Japan | 406 | 2 | — | |||||||||||||
$ | 3,624,317 | $ | 3,176,140 | $ | 961,921 | |||||||||||
The Company includes all non-current assets, except for goodwill, in its long-lived assets. |
Condensed_Consolidating_Financ
Condensed Consolidating Financial Information | 12 Months Ended | ||||||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||||||
Condensed Consolidating Financial Information [Abstract] | ' | ||||||||||||||||||||
Condensed Consolidating Financial Information | ' | ||||||||||||||||||||
CONDENSED CONSOLIDATING FINANCIAL INFORMATION | |||||||||||||||||||||
As discussed in Note 9 – Long-Term Debt, on July 2, 2012, the Company co-issued, with its 100% owned finance subsidiary, Zayo Capital, Inc., $750,000 Senior Secured Notes and $500,000 Senior Unsecured Notes. The Notes are fully and unconditionally guaranteed, jointly and severally, on a senior secured basis by all of the Company’s current and future domestic restricted subsidiaries. Zayo Capital does not have independent assets or operations. The non-guarantor subsidiaries consist of the foreign subsidiaries that were acquired in conjunction with the Company's acquisition of AboveNet and Geo. | |||||||||||||||||||||
The accompanying consolidating financial information has been prepared and is presented to display the components of the Company’s balance sheets, statements of operations and statements of cash flows in a manner that allows an existing or future holder of the Company’s Notes to review and analyze the current financial position and recent operating results of the legal subsidiaries that guarantee the Company’s debt obligations. | |||||||||||||||||||||
The operating activities of the separate legal entities included in the Company’s consolidated financial statements are interdependent. The accompanying consolidating financial information presents the results of operations, financial position and cash flows of each legal entity. Zayo Group and its guarantors provide services to each other during the normal course of business. These transactions are eliminated in the consolidated results of operations of the Company. | |||||||||||||||||||||
Condensed Consolidating Balance Sheet | |||||||||||||||||||||
June 30, 2014 | |||||||||||||||||||||
Zayo Group, | Guarantor | Non- | Eliminations | Total | |||||||||||||||||
LLC | Subsidiaries | Guarantor | |||||||||||||||||||
Subsidiaries | |||||||||||||||||||||
(Issuer) | |||||||||||||||||||||
Assets | |||||||||||||||||||||
Current assets | |||||||||||||||||||||
Cash and cash equivalents | $ | 256,038 | $ | 1,013 | $ | 35,563 | $ | — | $ | 292,614 | |||||||||||
Trade receivables, net | 33,513 | 6,044 | 15,450 | — | 55,007 | ||||||||||||||||
Due from related parties | 1,011 | — | 595 | (754 | ) | 852 | |||||||||||||||
Prepaid expenses | 18,834 | 1,364 | 5,286 | — | 25,484 | ||||||||||||||||
Deferred income taxes | 155,977 | — | 1,475 | — | 157,452 | ||||||||||||||||
Other assets, current | 1,928 | 1 | 470 | — | 2,399 | ||||||||||||||||
Total current assets | 467,301 | 8,422 | 58,839 | (754 | ) | 533,808 | |||||||||||||||
Property and equipment, net | 2,389,270 | 95,209 | 323,830 | — | 2,808,309 | ||||||||||||||||
Intangible assets, net | 563,724 | 29,756 | 95,544 | — | 689,024 | ||||||||||||||||
Goodwill | 683,461 | 17,832 | 145,169 | — | 846,462 | ||||||||||||||||
Debt issuance costs, net | 89,380 | — | — | — | 89,380 | ||||||||||||||||
Other assets | 23,406 | 3,347 | 10,851 | 37,604 | |||||||||||||||||
Related party note receivable, long-term | 267,770 | — | — | (267,770 | ) | — | |||||||||||||||
Investment in subsidiary | 303,703 | — | — | (303,703 | ) | — | |||||||||||||||
Total assets | $ | 4,788,015 | $ | 154,566 | $ | 634,233 | $ | (572,227 | ) | $ | 5,004,587 | ||||||||||
Liabilities and member’s equity | |||||||||||||||||||||
Current liabilities | |||||||||||||||||||||
Current portion of long-term debt | $ | 20,450 | $ | — | $ | — | $ | — | $ | 20,450 | |||||||||||
Accounts payable | 20,654 | 4,288 | 2,014 | — | 26,956 | ||||||||||||||||
Accrued liabilities | 125,135 | 7,101 | 26,280 | — | 158,516 | ||||||||||||||||
Accrued interest | 57,059 | — | — | — | 57,059 | ||||||||||||||||
Capital lease obligations, current | 1,562 | 853 | — | — | 2,415 | ||||||||||||||||
Due to related parties | — | — | 754 | (754 | ) | — | |||||||||||||||
Deferred revenue, current | 56,723 | 1,419 | 17,071 | — | 75,213 | ||||||||||||||||
Total current liabilities | 281,583 | 13,661 | 46,119 | (754 | ) | 340,609 | |||||||||||||||
Long-term debt, non-current | 3,219,673 | — | — | — | 3,219,673 | ||||||||||||||||
Related party debt, long-term | — | — | 267,770 | (267,770 | ) | — | |||||||||||||||
Capital lease obligations, non-current | 5,495 | 15,628 | 1,733 | — | 22,856 | ||||||||||||||||
Deferred revenue, non-current | 459,452 | 4,026 | 33,417 | — | 496,895 | ||||||||||||||||
Stock-based compensation liability | 343,849 | 22,212 | 25,244 | — | 391,305 | ||||||||||||||||
Deferred income taxes, net | 92,996 | — | 45,335 | — | 138,331 | ||||||||||||||||
Other long-term liabilities | 12,376 | 9,810 | 141 | — | 22,327 | ||||||||||||||||
Total liabilities | 4,415,424 | 65,337 | 419,759 | (268,524 | ) | 4,631,996 | |||||||||||||||
Member’s equity | |||||||||||||||||||||
Member’s interest | 753,506 | 49,562 | 205,022 | (303,703 | ) | 704,387 | |||||||||||||||
Accumulated other comprehensive loss | — | — | 14,456 | — | 14,456 | ||||||||||||||||
(Accumulated deficit)/retained earnings | (380,915 | ) | 39,667 | (5,004 | ) | — | (346,252 | ) | |||||||||||||
Total member’s equity | 372,591 | 89,229 | 214,474 | (303,703 | ) | 372,591 | |||||||||||||||
Total liabilities and member’s equity | $ | 4,788,015 | $ | 154,566 | $ | 634,233 | $ | (572,227 | ) | $ | 5,004,587 | ||||||||||
Condensed Consolidating Balance Sheet | |||||||||||||||||||||
June 30, 2013 | |||||||||||||||||||||
Zayo Group, | Guarantor | Non- | Eliminations | Total | |||||||||||||||||
LLC | Subsidiaries | Guarantor | |||||||||||||||||||
Subsidiaries | |||||||||||||||||||||
(Issuer) | |||||||||||||||||||||
Assets | |||||||||||||||||||||
Current assets | |||||||||||||||||||||
Cash and cash equivalents | $ | 83,608 | $ | 1,009 | $ | 3,531 | $ | — | $ | 88,148 | |||||||||||
Trade receivables, net | 52,377 | 4,284 | 11,150 | — | 67,811 | ||||||||||||||||
Due from related parties | 2,113 | — | (384 | ) | (1,107 | ) | 622 | ||||||||||||||
Prepaid expenses | 14,768 | 1,634 | 2,786 | — | 19,188 | ||||||||||||||||
Deferred income taxes | 90,356 | — | — | — | 90,356 | ||||||||||||||||
Other assets, current | 2,843 | 6 | 2 | — | 2,851 | ||||||||||||||||
Total current assets | 246,065 | 6,933 | 17,085 | (1,107 | ) | 268,976 | |||||||||||||||
Property and equipment, net | 2,274,764 | 48,673 | 87,783 | — | 2,411,220 | ||||||||||||||||
Intangible assets, net | 585,590 | 18,695 | 31,973 | — | 636,258 | ||||||||||||||||
Goodwill | 620,812 | 15,055 | 46,908 | — | 682,775 | ||||||||||||||||
Debt issuance costs, net | 99,098 | — | — | — | 99,098 | ||||||||||||||||
Deferred income taxes, net | 280 | — | — | — | 280 | ||||||||||||||||
Other assets, non-current | 25,332 | 3,130 | 822 | — | 29,284 | ||||||||||||||||
Related party note receivable, long-term | 10,427 | — | — | (10,427 | ) | — | |||||||||||||||
Investment in subsidiary | 216,224 | — | — | (216,224 | ) | — | |||||||||||||||
Total assets | $ | 4,078,592 | $ | 92,486 | 184,571 | $ | (227,758 | ) | $ | 4,127,891 | |||||||||||
Liabilities and member’s equity | |||||||||||||||||||||
Current liabilities | |||||||||||||||||||||
Current portion of long-term debt | $ | 16,200 | $ | — | $ | — | $ | — | $ | 16,200 | |||||||||||
Accounts payable | 30,319 | 1,536 | 1,622 | — | 33,477 | ||||||||||||||||
Accrued liabilities | 103,780 | 5,376 | 6,776 | — | 115,932 | ||||||||||||||||
Accrued interest | 55,048 | — | — | — | 55,048 | ||||||||||||||||
Capital lease obligations, current | 1,493 | 5,107 | — | — | 6,600 | ||||||||||||||||
Due to related parties | 25 | — | 1,082 | (1,107 | ) | — | |||||||||||||||
Deferred revenue, current | 33,170 | 701 | 2,106 | — | 35,977 | ||||||||||||||||
Total current liabilities | 240,035 | 12,720 | 11,586 | (1,107 | ) | 263,234 | |||||||||||||||
Long-term debt, non-current | 2,814,505 | — | — | — | 2,814,505 | ||||||||||||||||
Related party debt, long-term | — | — | 10,427 | (10,427 | ) | — | |||||||||||||||
Capital lease obligations, non-current | 6,487 | 80 | — | — | 6,567 | ||||||||||||||||
Deferred revenue, non-current | 318,188 | 3,850 | 4,142 | — | 326,180 | ||||||||||||||||
Stock-based compensation liability | 154,435 | 2,794 | 1,291 | — | 158,520 | ||||||||||||||||
Deferred income taxes, net | — | — | 5,560 | — | 5,560 | ||||||||||||||||
Other long-term liabilities | 11,511 | 8,311 | 70 | — | 19,892 | ||||||||||||||||
Total liabilities | 3,545,161 | 27,755 | 33,076 | (11,534 | ) | 3,594,458 | |||||||||||||||
Member’s equity | |||||||||||||||||||||
Member’s interest | 736,439 | 33,748 | 150,000 | (216,224 | ) | 703,963 | |||||||||||||||
Accumulated other comprehensive income | — | — | (4,755 | ) | — | (4,755 | ) | ||||||||||||||
(Accumulated deficit)/retained earnings | (203,008 | ) | 30,983 | 6,250 | — | (165,775 | ) | ||||||||||||||
Total member’s equity | 533,431 | 64,731 | 151,495 | (216,224 | ) | 533,433 | |||||||||||||||
Total liabilities and member’s equity | $ | 4,078,592 | $ | 92,486 | 184,571 | $ | (227,758 | ) | $ | 4,127,891 | |||||||||||
Condensed Consolidating Statement of Operations | |||||||||||||||||||||
For the Year Ended June 30, 2014 | |||||||||||||||||||||
Zayo Group, | Guarantor | Non- | Eliminations | Total | |||||||||||||||||
LLC | Subsidiaries | Guarantor | |||||||||||||||||||
Subsidiaries | |||||||||||||||||||||
(Issuer) | |||||||||||||||||||||
Revenue | $ | 961,201 | $ | 75,299 | $ | 70,410 | $ | — | $ | 1,106,910 | |||||||||||
Operating costs and expenses | |||||||||||||||||||||
Operating costs, excluding depreciation and amortization | 110,601 | 23,219 | 7,705 | — | 141,525 | ||||||||||||||||
Selling, general and administrative expenses, excluding stock-based compensation | 273,171 | 15,699 | 28,995 | — | 317,865 | ||||||||||||||||
Stock-based compensation | 214,045 | 15,161 | 24,155 | — | 253,361 | ||||||||||||||||
Selling, general and administrative expenses | 487,216 | 30,860 | 53,150 | — | 571,226 | ||||||||||||||||
Depreciation and amortization | 307,636 | 11,934 | 16,837 | — | 336,407 | ||||||||||||||||
Total operating costs and expenses | 905,453 | 66,013 | 77,692 | — | 1,049,158 | ||||||||||||||||
Operating income | 55,748 | 9,286 | (7,282 | ) | — | 57,752 | |||||||||||||||
Other expense | |||||||||||||||||||||
Interest expense | (200,479 | ) | (583 | ) | (2,446 | ) | — | (203,508 | ) | ||||||||||||
Loss on extinguishment of debt | (1,911 | ) | — | — | — | (1,911 | ) | ||||||||||||||
Other income, net | 3,860 | (20 | ) | 1,199 | — | 5,039 | |||||||||||||||
Equity in net earnings of subsidiaries | (2,568 | ) | — | — | 2,568 | — | |||||||||||||||
Total other expense, net | (201,098 | ) | (603 | ) | (1,247 | ) | 2,568 | (200,380 | ) | ||||||||||||
(Loss)/earnings before provision for income taxes | (145,350 | ) | 8,683 | (8,529 | ) | 2,568 | (142,628 | ) | |||||||||||||
(Benefit)/provision for income taxes | 35,127 | — | 2,722 | — | 37,849 | ||||||||||||||||
(Loss)/earnings from continuing operations | (180,477 | ) | 8,683 | (11,251 | ) | 2,568 | (180,477 | ) | |||||||||||||
Net (loss)/earnings | $ | (180,477 | ) | $ | 8,683 | $ | (11,251 | ) | $ | 2,568 | $ | (180,477 | ) | ||||||||
Condensed Consolidating Statement of Operations | |||||||||||||||||||||
For the Year Ended June 30, 2013 | |||||||||||||||||||||
Zayo Group, | Guarantor | Non- | Eliminations | Total | |||||||||||||||||
LLC | Subsidiaries | Guarantor | |||||||||||||||||||
Subsidiaries | |||||||||||||||||||||
(Issuer) | |||||||||||||||||||||
Revenue | $ | 876,443 | $ | 62,469 | $ | 57,852 | $ | (8,679 | ) | $ | 988,085 | ||||||||||
Operating costs and expenses | |||||||||||||||||||||
Operating costs, excluding depreciation and amortization | 107,480 | 30,389 | 7,405 | (8,679 | ) | 136,595 | |||||||||||||||
Selling, general and administrative expenses, excluding stock-based compensation | 275,558 | 11,560 | 25,864 | — | 312,982 | ||||||||||||||||
Stock-based compensation | 102,145 | 1,569 | 1,334 | — | 105,048 | ||||||||||||||||
Selling, general and administrative expenses | 377,703 | 13,129 | 27,198 | — | 418,030 | ||||||||||||||||
Depreciation and amortization | 301,392 | 7,970 | 13,318 | — | 322,680 | ||||||||||||||||
Total operating costs and expenses | 786,575 | 51,488 | 47,921 | (8,679 | ) | 877,305 | |||||||||||||||
Operating income | 89,868 | 10,981 | 9,931 | — | 110,780 | ||||||||||||||||
Other expense | |||||||||||||||||||||
Interest expense | (201,964 | ) | (87 | ) | (413 | ) | — | (202,464 | ) | ||||||||||||
Loss on extinguishment of debt | (77,253 | ) | — | — | — | (77,253 | ) | ||||||||||||||
Other income, net | 257 | 4 | 65 | — | 326 | ||||||||||||||||
Equity in net earnings of subsidiaries | 15,816 | — | — | (15,816 | ) | — | |||||||||||||||
Total other expense, net | (263,144 | ) | (83 | ) | (348 | ) | (15,816 | ) | (279,391 | ) | |||||||||||
Earnings/(loss) before provision for income taxes | (173,276 | ) | 10,898 | 9,583 | (15,816 | ) | (168,611 | ) | |||||||||||||
Provision for income taxes | (28,711 | ) | — | 4,665 | — | (24,046 | ) | ||||||||||||||
(Loss)/earnings from continuing operations | (144,565 | ) | 10,898 | 4,918 | (15,816 | ) | (144,565 | ) | |||||||||||||
Earnings from discontinued operations, net of income taxes | 1,808 | — | — | — | 1,808 | ||||||||||||||||
Net (loss)/earnings | $ | (142,757 | ) | $ | 10,898 | $ | 4,918 | $ | (15,816 | ) | $ | (142,757 | ) | ||||||||
Condensed Consolidating Statement of Operations | |||||||||||||||||||||
For the Year Ended June 30, 2012 | |||||||||||||||||||||
Zayo Group, | Guarantor | Non- | Eliminations | Total | |||||||||||||||||
LLC | Subsidiaries | Guarantor | |||||||||||||||||||
Subsidiaries | |||||||||||||||||||||
(Issuer) | |||||||||||||||||||||
Revenue | $ | 342,990 | $ | 43,251 | $ | — | $ | (4,198 | ) | $ | 382,043 | ||||||||||
Operating costs and expenses | |||||||||||||||||||||
Operating costs, excluding depreciation and amortization | 63,564 | 19,024 | — | (7 | ) | 82,581 | |||||||||||||||
Selling, general and administrative expenses, excluding stock-based compensation | 104,497 | 7,198 | — | — | 111,695 | ||||||||||||||||
Stock-based compensation | 24,934 | 1,319 | — | — | 26,253 | ||||||||||||||||
Selling, general and administrative expenses | 129,431 | 8,517 | — | — | 137,948 | ||||||||||||||||
Depreciation and amortization | 78,882 | 6,079 | — | — | 84,961 | ||||||||||||||||
Total operating costs and expenses | 271,877 | 33,620 | — | (7 | ) | 305,490 | |||||||||||||||
Operating income | 71,113 | 9,631 | — | (4,191 | ) | 76,553 | |||||||||||||||
Other expense | |||||||||||||||||||||
Interest expense | (50,507 | ) | (213 | ) | — | — | (50,720 | ) | |||||||||||||
Impairment on cost method recovery | (2,248 | ) | — | — | — | (2,248 | ) | ||||||||||||||
Other income, net | 123 | — | — | — | 123 | ||||||||||||||||
Equity in net earnings of subsidiaries | 1,040 | — | — | (1,040 | ) | — | |||||||||||||||
Total other expense, net | (51,592 | ) | (213 | ) | — | (1,040 | ) | (52,845 | ) | ||||||||||||
Earnings/(loss) before provision for income taxes | 19,521 | 9,418 | — | (5,231 | ) | 23,708 | |||||||||||||||
Provision for income taxes | 25,370 | 4,187 | — | — | 29,557 | ||||||||||||||||
(Loss)/earnings from continuing operations | (5,849 | ) | 5,231 | — | (5,231 | ) | (5,849 | ) | |||||||||||||
Net (loss)/earnings | $ | (5,849 | ) | $ | 5,231 | $ | — | $ | (5,231 | ) | $ | (5,849 | ) | ||||||||
Condensed Consolidating Statement of Cash Flows | |||||||||||||||||||||
June 30, 2014 | |||||||||||||||||||||
Zayo Group, | Guarantor | Non- | Total | ||||||||||||||||||
LLC | Subsidiaries | Guarantor | |||||||||||||||||||
Subsidiaries | |||||||||||||||||||||
Net cash provided by operating activities | $ | 489,909 | $ | 37,064 | $ | 33,324 | $ | 560,297 | |||||||||||||
Cash flows from investing activities | |||||||||||||||||||||
Purchases of property and equipment, net of stimulus growth | (316,521 | ) | (28,196 | ) | (16,040 | ) | (360,757 | ) | |||||||||||||
Acquisitions, net of cash acquired | (83,205 | ) | (17,804 | ) | (292,332 | ) | (393,341 | ) | |||||||||||||
Net cash (used in)/provided by investing activities | (399,726 | ) | (46,000 | ) | (308,372 | ) | (754,098 | ) | |||||||||||||
Cash flows from financing activities | |||||||||||||||||||||
Equity contributions | 5,605 | — | — | 5,605 | |||||||||||||||||
Dividends received/(paid) | (69,722 | ) | 14,709 | 55,013 | — | ||||||||||||||||
Distribution to Parent | (1,203 | ) | — | — | (1,203 | ) | |||||||||||||||
Proceeds from long-term debt | 423,625 | — | — | 423,625 | |||||||||||||||||
Proceeds from revolving credit facility | 195,000 | — | — | 195,000 | |||||||||||||||||
Principal repayments on long-term debt | (18,013 | ) | — | — | (18,013 | ) | |||||||||||||||
Payments on revolving credit facility | (195,000 | ) | — | — | (195,000 | ) | |||||||||||||||
(Payment of)/receipt from intercompany loan | (251,049 | ) | — | 251,049 | — | ||||||||||||||||
Principal repayments on capital lease obligations | (2,105 | ) | (5,769 | ) | — | (7,874 | ) | ||||||||||||||
Deferred financing costs | (4,891 | ) | — | — | (4,891 | ) | |||||||||||||||
Net cash provided/(used) by financing activities | 82,247 | 8,940 | 306,062 | 397,249 | |||||||||||||||||
Effect of changes in foreign exchange rates on cash | — | — | 1,018 | 1,018 | |||||||||||||||||
Net increase/(decrease) in cash and cash equivalents | 172,430 | 4 | 32,032 | 204,466 | |||||||||||||||||
Cash and cash equivalents, beginning of period | 83,608 | 1,009 | 3,531 | 88,148 | |||||||||||||||||
Cash and cash equivalents, end of period | $ | 256,038 | $ | 1,013 | $ | 35,563 | $ | 292,614 | |||||||||||||
Condensed Consolidating Statement of Cash Flows | |||||||||||||||||||||
June 30, 2013 | |||||||||||||||||||||
Zayo Group, | Guarantor | Non- | Total | ||||||||||||||||||
LLC | Subsidiaries | Guarantor | |||||||||||||||||||
Subsidiaries | |||||||||||||||||||||
Net cash provided by operating activities | $ | 352,312 | $ | 27,427 | $ | 13,582 | $ | 393,321 | |||||||||||||
Cash flows from investing activities | |||||||||||||||||||||
Purchases of property and equipment, net of stimulus grants | (299,692 | ) | (14,122 | ) | (9,387 | ) | (323,201 | ) | |||||||||||||
Acquisitions, net of cash acquired | (2,491,450 | ) | 421 | 7,892 | (2,483,137 | ) | |||||||||||||||
Proceeds from principal payments received on related party loans | 10,396 | — | — | 10,396 | |||||||||||||||||
Net cash used in investing activities | (2,780,746 | ) | (13,701 | ) | (1,495 | ) | (2,795,942 | ) | |||||||||||||
Cash flows from financing activities | |||||||||||||||||||||
Equity contributions | 345,013 | — | — | 345,013 | |||||||||||||||||
Dividend received/(paid) | 18,600 | (18,600 | ) | — | — | ||||||||||||||||
Proceeds from long-term debt | 3,184,452 | 4,887 | — | 3,189,339 | |||||||||||||||||
Principal repayments on long-term debt | (1,058,577 | ) | — | — | (1,058,577 | ) | |||||||||||||||
Receipt from/(payment of) intercompany loan | 8,253 | — | (8,253 | ) | — | ||||||||||||||||
Early redemption fees on debt extinguishment | (72,117 | ) | — | — | (72,117 | ) | |||||||||||||||
Changes in restricted cash | 22,666 | — | — | 22,666 | |||||||||||||||||
Principal repayments on capital lease obligations | (1,808 | ) | (123 | ) | — | (1,931 | ) | ||||||||||||||
Cash contributed to ZPS | (7,218 | ) | — | — | (7,218 | ) | |||||||||||||||
Deferred financing costs | (83,134 | ) | — | — | (83,134 | ) | |||||||||||||||
Net cash provided by/(used in) financing activities | 2,356,130 | (13,836 | ) | (8,253 | ) | 2,334,041 | |||||||||||||||
Cash flows from discontinued operations | |||||||||||||||||||||
Cash flows from discontinued operations | 6,338 | — | — | 6,338 | |||||||||||||||||
Effect of changes in foreign exchange rates on cash | — | — | (303 | ) | (303 | ) | |||||||||||||||
Net (decrease)/increase in cash and cash equivalents | (65,966 | ) | (110 | ) | 3,531 | (62,545 | ) | ||||||||||||||
Cash and cash equivalents, beginning of period | 149,574 | 1,119 | — | 150,693 | |||||||||||||||||
Cash and cash equivalents, end of period | $ | 83,608 | $ | 1,009 | $ | 3,531 | $ | 88,148 | |||||||||||||
Condensed Consolidating Statement of Cash Flows | |||||||||||||||||||||
June 30, 2012 | |||||||||||||||||||||
Zayo Group, | Guarantor | Non- | Total | ||||||||||||||||||
LLC | Subsidiaries | Guarantor | |||||||||||||||||||
Subsidiaries | |||||||||||||||||||||
Net cash provided by operating activities | $ | 151,090 | $ | 16,540 | $ | — | $ | 167,630 | |||||||||||||
Cash flows from investing activities | |||||||||||||||||||||
Purchases of property and equipment, net of stimulus grants | (116,685 | ) | (7,452 | ) | — | (124,137 | ) | ||||||||||||||
Proceeds from sale of property and equipment | (351,273 | ) | — | — | (351,273 | ) | |||||||||||||||
Net cash used in investing activities | (467,958 | ) | (7,452 | ) | — | (475,410 | ) | ||||||||||||||
Cash flows from financing activities | |||||||||||||||||||||
Equity contributions | 134,796 | — | — | 134,796 | |||||||||||||||||
Dividend received/(paid) | 10,257 | (10,257 | ) | — | — | ||||||||||||||||
Proceeds from borrowings | 335,550 | — | — | 335,550 | |||||||||||||||||
Principal repayments on long-term debt | (1,575 | ) | — | — | (1,575 | ) | |||||||||||||||
Changes in restricted cash | (22,820 | ) | — | — | (22,820 | ) | |||||||||||||||
Principal repayments on capital lease obligations | (1,050 | ) | (121 | ) | — | (1,171 | ) | ||||||||||||||
Deferred financing costs | (11,701 | ) | — | — | (11,701 | ) | |||||||||||||||
Net cash provided by/(used in) financing activities | 443,457 | (10,378 | ) | — | 433,079 | ||||||||||||||||
Net increase/(decrease) in cash and cash equivalents | 126,589 | (1,290 | ) | — | 125,299 | ||||||||||||||||
Cash and cash equivalents, beginning of period | 22,985 | 2,409 | — | 25,394 | |||||||||||||||||
Cash and cash equivalents, end of period | $ | 149,574 | $ | 1,119 | $ | — | $ | 150,693 | |||||||||||||
Quarterly_Financial_Data_Unaud
Quarterly Financial Data (Unaudited) | 12 Months Ended | ||||||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||||||
Quarterly Financial Data [Abstract] | ' | ||||||||||||||||||||
Quarterly Financial Data (Unaudited) | ' | ||||||||||||||||||||
QUARTERLY FINANCIAL DATA | |||||||||||||||||||||
The following table presents the unaudited quarterly results for the year ended June 30, 2014: | |||||||||||||||||||||
2014 Quarter Ended (1) | |||||||||||||||||||||
September 30 (1) | December 31 (2) (3) | March 31 (4) | June 30 (5) | Total | |||||||||||||||||
Revenue | $ | 264,345 | $ | 273,599 | $ | 278,038 | $ | 290,928 | $ | 1,106,910 | |||||||||||
Operating costs and expenses | |||||||||||||||||||||
Operating costs, excluding depreciation and amortization | 34,917 | 35,027 | 35,358 | 36,223 | 141,525 | ||||||||||||||||
Selling, general and administrative expenses, excluding stock-based compensation | 74,732 | 77,538 | 77,734 | 87,861 | -7 | 317,865 | |||||||||||||||
Stock-based compensation | 42,684 | 56,686 | 64,964 | 89,027 | 253,361 | ||||||||||||||||
Selling, general and administrative expenses | 117,416 | 134,224 | 142,698 | 176,888 | 571,226 | ||||||||||||||||
Depreciation and amortization | 80,575 | 81,257 | 83,703 | 90,872 | 336,407 | ||||||||||||||||
Total operating costs and expenses | 232,908 | 250,508 | 261,759 | 303,983 | 1,049,158 | ||||||||||||||||
Operating income | 31,437 | 23,091 | 16,279 | (13,055 | ) | 57,752 | |||||||||||||||
Other expenses | |||||||||||||||||||||
Interest expense (6) | (51,497 | ) | (50,277 | ) | (49,131 | ) | (52,603 | ) | (203,508 | ) | |||||||||||
Loss on extinguishment of debt (7) | — | (1,911 | ) | — | — | (1,911 | ) | ||||||||||||||
Other income/(expense), net | 662 | 479 | 125 | 3,773 | 5,039 | ||||||||||||||||
Total other expenses, net | (50,835 | ) | (51,709 | ) | (49,006 | ) | (48,830 | ) | (200,380 | ) | |||||||||||
(Loss)/earnings from continuing operations before income taxes | (19,398 | ) | (28,618 | ) | (32,727 | ) | (61,885 | ) | (142,628 | ) | |||||||||||
(Benefit)/provision for income taxes | 8,534 | 7,697 | 11,327 | 10,291 | 37,849 | ||||||||||||||||
Loss/(earnings) from continuing operations | (27,932 | ) | (36,315 | ) | (44,054 | ) | (72,176 | ) | (180,477 | ) | |||||||||||
Earnings from discontinued operations, net of income taxes (10) | — | — | — | — | — | ||||||||||||||||
Net (loss)/earnings | $ | (27,932 | ) | $ | (36,315 | ) | $ | (44,054 | ) | $ | (72,176 | ) | $ | (180,477 | ) | ||||||
-1 | The Company realized an increase in revenue and operating expenses beginning August 1, 2013 as a result of the acquisition of Corelink. | ||||||||||||||||||||
-2 | The Company realized an increase in revenue and operating expenses beginning October 1, 2013 as a result of the acquisition of Access. | ||||||||||||||||||||
-3 | The Company realized an increase in revenue and operating expenses beginning October 1, 2013 as a result of the acquisition of Fiberlink. | ||||||||||||||||||||
-4 | The Company realized an increase in revenue and operating expenses beginning March 4, 2014 as a result of the acquisition of CoreXchange. | ||||||||||||||||||||
-5 | The Company realized an increase in revenue and operating expenses beginning May 16, 2014 as a result of the acquisition of Geo. | ||||||||||||||||||||
-6 | The Company realized an increase in interest expense during the second and fourth quarters of 2014 due to financing transactions completed to increase its borrowings under its term loan facility. See Note 9—Long-Term Debt. | ||||||||||||||||||||
-7 | The Company completed a debt refinancing transaction during the second quarter of Fiscal 2014, resulting in a loss on debt extinguishment for that respective period. See Note 9—Long-Term Debt. | ||||||||||||||||||||
The following table presents the unaudited quarterly results for the year ended June 30, 2013: | |||||||||||||||||||||
2013 Quarter Ended (1) | |||||||||||||||||||||
September 30 (2) | December 31 (3) (4) | March 31 (5) | June 30 (6) | Total | |||||||||||||||||
Revenue | $ | 231,502 | $ | 245,265 | $ | 253,148 | $ | 258,170 | $ | 988,085 | |||||||||||
Operating costs and expenses | |||||||||||||||||||||
Operating costs, excluding depreciation and amortization | 32,717 | 34,888 | 35,130 | 33,860 | 136,595 | ||||||||||||||||
Selling, general and administrative expenses, excluding stock-based compensation | 85,792 | 73,027 | 70,419 | 83,744 | -7 | 312,982 | |||||||||||||||
Stock-based compensation | 10,481 | 33,445 | 23,453 | 37,669 | 105,048 | ||||||||||||||||
Selling, general and administrative expenses | 96,273 | 106,472 | 93,872 | 121,413 | 418,030 | ||||||||||||||||
Depreciation and amortization | 79,549 | 83,467 | 79,473 | 80,191 | 322,680 | ||||||||||||||||
Total operating costs and expenses | 208,539 | 224,827 | 208,475 | 235,464 | 877,305 | ||||||||||||||||
Operating income | 22,963 | 20,438 | 44,673 | 22,706 | 110,780 | ||||||||||||||||
Other expenses | |||||||||||||||||||||
Interest expense (8) | (62,555 | ) | (52,635 | ) | (49,618 | ) | (37,656 | ) | (202,464 | ) | |||||||||||
Loss on extinguishment of debt (9) | (64,975 | ) | (5,707 | ) | (6,571 | ) | — | (77,253 | ) | ||||||||||||
Other income/(expense), net | 585 | 224 | (508 | ) | 25 | 326 | |||||||||||||||
Total other expenses, net | (126,945 | ) | (58,118 | ) | (56,697 | ) | (37,631 | ) | (279,391 | ) | |||||||||||
(Loss)/earnings from continuing operations before income taxes | (103,982 | ) | (37,680 | ) | (12,024 | ) | (14,925 | ) | (168,611 | ) | |||||||||||
(Benefit)/provision for income taxes | (36,588 | ) | (3,438 | ) | 6,519 | 9,461 | (24,046 | ) | |||||||||||||
Loss/(earnings) from continuing operations | (67,394 | ) | (34,242 | ) | (18,543 | ) | (24,386 | ) | (144,565 | ) | |||||||||||
Earnings from discontinued operations, net of income taxes (10) | 1,808 | — | — | — | 1,808 | ||||||||||||||||
Net (loss)/earnings | $ | (65,586 | ) | $ | (34,242 | ) | $ | (18,543 | ) | $ | (24,386 | ) | $ | (142,757 | ) | ||||||
-1 | Revenue and depreciation and amortization expense recognized during interim periods of Fiscal 2013 have been retrospectively stated for material adjustments in the valuation of deferred revenue, property, plant and equipment, and intangible assets recorded in connection with the finalization of AboveNet purchase accounting during the quarter ended June 30, 2013. See Note 3 - Acquisitions - Adjustments to Purchase Accounting Estimates Associated with Current Year Acquisitions. | ||||||||||||||||||||
-2 | The Company realized an increase in revenue and operating expenses beginning August 31, 2012 as a result of the acquisition of FiberGate. | ||||||||||||||||||||
-3 | The Company realized an increase in revenue and operating expenses beginning October 1, 2012 as a result of the acquisition of USCarrier. | ||||||||||||||||||||
(4) The Company realized an increase in revenue and operating expenses beginning December 14, 2012 as a result of the acquisition of First Telecom. | |||||||||||||||||||||
(5) The Company realized an increase in revenue and operating expenses beginning December 31, 2012 as a result of the acquisition of Litecast. | |||||||||||||||||||||
(6) The Company realized an increase in revenue and operating expenses beginning June 1, 2013 as a result of the acquisition of Core NAP. | |||||||||||||||||||||
-7 | During the quarter ended June 30, 2013, the Company recognized a charge of $10,197 for lease termination costs related to exit activities initiated for unutilized space associated with leased office and technical facilities – see Note 15 – Commitments and Contingencies. | ||||||||||||||||||||
(8) The Company realized a decrease in interest expense during the second and third quarters of 2013 due to financing transactions completed to lower its interest rates on its variable rate debt. During the fourth quarter of 2013, favorable movements in interest rates increased the fair value of the Company's interest rate swaps, resulting in a decrease in the Company's interest expense - see Note 9 - Long-Term Debt. | |||||||||||||||||||||
-9 | The Company completed debt refinancing transactions during the first, second and third quarters of Fiscal 2013, resulting in a loss on debt extinguishment in each respective period. See Note 9 - Long-Term Debt. | ||||||||||||||||||||
-10 | The Company spun-off its ZPS operating unit on September 30, 2012 - see Note 4 - Spin-Off of Business. |
Subsequent_Events
Subsequent Events | 12 Months Ended |
Jun. 30, 2014 | |
Subsequent Events [Abstract] | ' |
Subsequent Events | ' |
SUBSEQUENT EVENTS | |
See Note 3 – Acquisitions, for a discussion of acquisitions that have closed subsequent to year end or are pending as of September 29, 2014. | |
On July 1, 2014, the ZPS business was transferred from Holdings to the Company. The transfer will be accounted for as an equity contribution at carryover basis equal to the net asset and liabilities of ZPS on the spin-off date, as the transaction is between entities under common control. |
Basis_of_Presentation_and_Sign1
Basis of Presentation and Significant Accounting Policies (Policy) | 12 Months Ended | |
Jun. 30, 2014 | ||
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' | |
Basis of Presentation | ' | |
Basis of Presentation | ||
The accompanying consolidated financial statements include all the accounts of the Company and its wholly-owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation. The accompanying consolidated financial statements and related notes have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”). | ||
Unless otherwise noted, dollar amounts and disclosures throughout the Notes to the consolidated financial statements relate to the Company's continuing operations and are presented in thousands of dollars. | ||
Our fiscal year ends June 30 each year, and we refer to the fiscal year ended June 30, 2014 as “Fiscal | ||
2014,” June 30, 2013 as “Fiscal 2013,” and the fiscal year ended June 30, 2012 as “Fiscal 2012.” | ||
Foreign Currency Translation | ' | |
Foreign Currency Translation | ||
For operations outside the U.S. that have functional currencies other than the U.S. dollar, assets and liabilities | ||
are translated to U.S. dollars at period-end exchange rates, and revenue, expenses and cash flows are translated using monthly average exchange rates during the year. Gains or losses resulting from currency translation are recorded as a component of accumulated other comprehensive loss in member’s equity and in the consolidated statements of comprehensive loss. The Company considers the majority of its investments in its foreign subsidiaries to be permanently reinvested. The Company’s foreign exchange transaction gains and losses are included within “Other income/(expense), net” in the consolidated statements of operations. | ||
Discontinued Operations | ' | |
Discontinued Operations | ||
On September 30, 2012, the Company completed a spin-off of its Zayo Professional Services ("ZPS") business. The Company distributed all of the assets and liabilities of ZPS to Holdings on the respective spin-off date and accounted for the spin-off as an equity transaction at carryover basis, as the transaction was considered to be between entities under common control. | ||
Use of Estimates | ' | |
Use of Estimates | ||
The preparation of the Company’s consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expense during the reporting period. Significant estimates are used when establishing allowances for doubtful accounts, reserves for disputed line cost billings, determining useful lives for depreciation and amortization, determining accruals for exit activities associated with real estate leases, assessing the need for impairment charges (including those related to investments, intangible assets and goodwill), determining the fair values of assets acquired and liabilities assumed in business combinations, accounting for income taxes and | ||
related valuation allowances against deferred tax assets and estimating the common unit fair values used to compute the stock-based compensation liability. Management evaluates these estimates and judgments on an ongoing basis and makes estimates based on historical experience, current conditions, and various other assumptions that are believed to be reasonable at the time under the circumstances. The results of these estimates form the basis for making judgments about the carrying values of assets and liabilities as well as identifying and assessing the accounting treatment with respect to commitments and contingencies. Actual results may differ from these estimates | ||
Cash and Cash Equivalents and Restricted Cash | ' | |
Cash and Cash Equivalents and Restricted Cash | ||
The Company considers all highly liquid investments with original maturities of three months or less to be cash and cash equivalents. Cash equivalents are stated at cost, which approximates fair value. Restricted cash consists of cash balances held by various financial institutions as collateral for letters of credit and surety bonds. These balances are reclassified to cash and cash equivalents when the underlying obligation is satisfied, or in accordance with the governing agreement. Restricted cash balances expected to become unrestricted during the next twelve months are recorded as current assets. As of June 30, 2014 and 2013, the Company had no restricted cash balances. The current restricted cash balance as of June 30, 2013 related to cash held in escrow associated with the Company’s July 2, 2012 debt refinancing – see Note 9 – Long Term Debt. Restricted cash balances that are not expected to become unrestricted during the next twelve months are recorded as other non-current assets. As of June 30, 2014 and 2013, the Company had a non-current restricted cash balance of $5,065 and $5,533, respectively. | ||
Trade Receivables | ' | |
Trade Receivables | ||
Trade receivables are recorded at the invoiced amount and do not bear interest. The Company maintains an allowance for doubtful accounts for estimated losses inherent in its trade receivable portfolio. In establishing the required allowance, management considers historical losses adjusted to take into account current market conditions and the customer’s financial condition, and the age of receivables and current payment patterns. Account balances are charged off against the allowance after all means of collection have been exhausted and the potential for recovery is considered remote. | ||
Property and Equipment | ' | |
Property and Equipment | ||
The Company’s property and equipment includes assets in service and under construction or development. | ||
Property and equipment is recorded at historical cost or acquisition date fair value. Costs associated directly with network construction, service installations, and development of business support systems, including employee-related costs, are capitalized. Depreciation is calculated on a straight-line basis over the asset’s estimated useful life from the date placed into service or acquired. Management periodically evaluates the estimates of the useful life of property and equipment by reviewing historical usage, with consideration given to technological changes, trends in the industry, and other economic factors that could impact the network architecture and asset utilization. | ||
Equipment acquired under capital leases is recorded at the lower of the fair value of the asset or the net present value of the minimum lease payments at the inception of the lease. Depreciation of equipment held under capital leases is included in depreciation and amortization expense, and is calculated on a straight-line basis over the estimated useful lives of the assets, or the related lease term, whichever is shorter. | ||
Management reviews property and equipment for impairment whenever events or changes in circumstances indicate that the carrying value of its property and equipment may not be recoverable. An impairment loss is recognized when the assets’ carrying value exceeds both the assets’ estimated undiscounted future cash flows and the assets’ estimated fair value. Measurement of the impairment loss is then based on the estimated fair value of the assets. Considerable judgment is required to project such future cash flows and, if required, to estimate the fair value of the property and equipment and the resulting amount of the impairment. No impairment charges were recorded for property and equipment during the years ended June 30, 2014, 2013 or 2012. | ||
The Company capitalizes interest for assets that require a period of time to get them ready for their intended use. The amount of interest capitalized is based on the Company’s weighted average effective interest rate for outstanding debt obligations during the respective accounting period. | ||
Goodwill and Purchased Intangibles | ' | |
Goodwill and Acquired Intangibles | ||
Intangible assets arising from business combinations, such as acquired customer contracts and relationships(collectively “customer relationships”), are initially recorded at fair value. The Company amortizes customer relationships primarily over an estimated life of 10 to 20 years, using the straight-line method as this method approximates the timing in which the Company expects to receive the benefit from the acquired customer relationship assets. Goodwill represents the excess of the purchase price over the fair value of the net identifiable assets acquired in a business combination. Goodwill is reviewed for impairment at least annually in April, or more frequently if a triggering event occurs between impairment testing dates. The Company’s impairment assessment begins with a qualitative assessment to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying value. The qualitative assessment includes comparing the overall financial performance of the reporting units against the planned results used in the last quantitative goodwill impairment test. Additionally, each reporting unit’s fair value is assessed in light of certain events and circumstances, including macroeconomic conditions, industry and market considerations, cost factors, and other relevant entity- and reporting unit-specific events. The selection and assessment of qualitative factors used to determine whether it is more likely than not that the fair value of a reporting unit exceeds the carrying value involves significant judgments and estimates. If it is determined under the qualitative assessment that it is more likely than not that the fair value of a reporting unit is less than its carrying value, then a two-step quantitative impairment test is performed. Under the first step, the estimated fair value of the reporting unit is compared with its carrying value (including goodwill). If the fair value of the reporting unit exceeds its carrying value, step two does not need to be performed. If the estimated fair value of the reporting unit is less than its carrying value, an indication of goodwill impairment exists for the reporting unit and the enterprise must perform step two of the impairment test (measurement). Under step two, an impairment loss is recognized for any excess of the carrying amount of the reporting unit’s goodwill over the implied fair value of that goodwill. The implied fair value of goodwill is determined by allocating the fair value of the reporting unit in a manner similar to a purchase price allocation in acquisition accounting. The residual amount after this allocation is the implied fair value of the reporting unit goodwill. Fair value of the reporting unit under the two-step assessment is determined using a combination of both income and market-based variation approaches. The inputs and assumptions to valuation methods used to estimate the fair value of reporting units involves significant judgments. The Company conducted its last quantitative two-step impairment analysis in the third quarter of fiscal 2013 and has conducted qualitative assessments since that time. | ||
The Company reviews its indefinite-lived intangible assets for impairment at least annually in April and involves comparing the estimated fair value of indefinite-lived intangible assets to their respective carrying values. To the extent the carrying value of indefinite-lived intangible assets exceeds the fair value, the Company will recognize an impairment loss for the difference. The Company performed a qualitative assessment to determine whether it was more likely than not that the fair value of these assets was in excess of the carrying value for the year ended June 30, 2014 and has concluded there is no indication of impairment. | ||
Intangible assets with finite useful lives are amortized over their respective estimated useful lives and reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of the asset may not be recoverable. No impairment charges were recorded for goodwill or intangibles during the years ended June 30, 2012, 2013 or 2014. | ||
Derivative Financial Instruments | ' | |
Derivative Financial Instruments | ||
Derivative instruments are recorded in the balance sheet as either assets or liabilities, measured at fair value. The Company has historically entered into interest rate swaps to convert a portion of its floating-rate debt to fixed-rate debt and has not applied hedge accounting; therefore, the changes in the fair value of the interest rate swaps are recognized in earnings as adjustments to interest expense. The principal objectives of the derivative instruments are to minimize the cash flow interest rate risks associated with financing activities. The Company does not use financial instruments for trading purposes. The Company utilizes interest rate swap contracts in connection with debt instruments entered into during the July 2012 financing transactions. See Note 9 - Long-term Debt, for further discussion of the Company’s debt obligations and Note 14 - Fair Value Measurements, for a discussion of the fair value of the interest rate swaps. | ||
Revenue Recognition | ' | |
Revenue Recognition | ||
The Company recognizes revenues derived from leasing fiber optic telecommunications infrastructure and the provision of telecommunications and colocation services when the service has been provided and when there is persuasive evidence of an arrangement, the fee is fixed or determinable, customer acceptance has been obtained with relevant contract terms, and collection of the receivable is reasonably assured. Taxes collected from customers and remitted to a governmental authority are reported on a net basis and are excluded from revenue. | ||
Most revenue is billed in advance on a fixed-rate basis. An immaterial amount of revenue is billed in arrears on a transactional basis determined by customer usage. The Company often bills customers for upfront charges, which are non-refundable. These charges relate to activation fees, installation charges or prepayments for future services and are influenced by various business factors including how the Company and customer agree to structure the payment terms. These upfront charges are deferred and recognized over the underlying contractual term. The Company also defers costs associated with customer activation and installation to the extent of upfront amounts received from customers, which are recognized as expense over the same period for which the associated revenue is recognized. | ||
The Company typically records revenues from leases of dark fiber, including indefeasible rights-of-use (“IRU”) agreements, over the term that the customer is given exclusive access to the assets. Dark fiber IRU agreements generally require the customer to make a down payment upon the execution of the agreement with monthly IRU fees paid over the contract term; however, in some cases, the Company receives up to the entire lease payment at the inception of the lease and recognizes the revenue ratably over the lease term. Revenue related to professional services to provide network management and technical support is recognized as services are provided. | ||
In determining the appropriate amount of revenue and related reserves to reflect in its consolidated financial statements, management evaluates payment history, credit ratings, customer financial performance, and historical or potential billing disputes and related estimates are based on these factors and assumptions. | ||
Operating Costs and Accured Liabilities | ' | |
Operating Costs and Accrued Liabilities | ||
The Company’s operating costs consist primarily of third-party network service costs and colocation facility costs. Third-party network service costs result from the Company’s leasing of certain network facilities, primarily leases of circuits and dark fiber, from carriers to augment its owned infrastructure, for which the Company is generally billed a fixed monthly fee. The Company’s colocation facility costs include rent and license fees paid to the landlords of the buildings in which its zColo business operates, along with the utility costs to power those facilities. | ||
The Company recognizes the cost of these facilities or services when it is incurred in accordance with contractual requirements. The Company routinely disputes incorrect billings. The most prevalent types of disputes include disputes for circuits that are not disconnected on a timely basis and usage bills with incorrect records. Depending on the type and complexity of the issues involved, it may take several quarters to resolve disputes. | ||
In determining the amount of such operating expenses and related accrued liabilities to reflect in its consolidated financial statements, management considers the adequacy of documentation of disconnect notices, compliance with prevailing contractual requirements for submitting such disconnect notices and disputes to the provider of the facilities, and compliance with its interconnection agreements with these carriers. Significant judgment is required in estimating the ultimate outcome of the dispute resolution process, as well as any other costs that may be incurred to conclude the negotiations or settle any litigation. | ||
Stock-based Compensation | ' | |
Stock-Based Compensation | ||
The common units granted by the Company’s parent company, CII, to the employees and independent directors of the Company are considered stock-based compensation with terms that require the awards to be classified as liabilities due to cash settlement features. As such, the Company accounts for these awards as a liability and re-measures the liability at each reporting date. These awards typically vest over a period of three or four years with the first vesting date occurring one year after the grant date and the remaining unvested shares vesting pro-rata over the remaining term. The common units may fully vest subsequent to a sale of CII or its subsidiaries. The stock compensation expense associated with the common unit liability is recognized on a straight-line basis over the requisite service period of three to five years but is adjusted each reporting period such that the liability is equal to the fair value of the awards attributed to expense. Subsequent to the vesting period end date, changes to the fair value of the liability classified awards are recognized as stock-based compensation expense until the awards are settled. | ||
The preferred units granted by the Company’s ultimate parent company, CII, to the employees and independent directors of the Company are considered stock-based compensation with terms that require the awards to be classified as equity. As such, the Company accounts for these awards as equity, which requires the cost to be measured at the grant date based on the fair value of the award. The cost is recognized as expense over the requisite service period. Preferred unit awards typically vest over a period of three or four years with the first vesting date occurring one year after the grant date and the remaining unvested units vesting pro-rata over the remaining term and may fully vest subsequent to a sale of CII or its subsidiaries. | ||
Determining the fair value of share-based awards at the grant date and subsequent reporting dates requires judgment. If actual results differ significantly from these estimates, stock-based compensation expense and the Company’s results of operations could be materially impacted. | ||
Legal Costs | ' | |
Legal Costs | ||
Costs incurred to hire and retain external legal counsel to advise us on regulatory, litigation and other matters is expensed as the related services are received. | ||
Government Grants | ' | |
Government Grants | ||
The Company receives grant money from the National Telecommunications and Information Administration (“NTIA”) Broadband Technology Opportunity Program ("BTOP"). The BTOP program is intended to support the deployment of broadband infrastructure, encourage sustainable adoption of broadband service, and develop and maintain a nationwide public map of broadband service capability and availability, under which recipients are required to comply with certain operational and reporting requirements as it relates to these broadband infrastructure assets. The Company has accounted for grant money received for reimbursement of capital expenditures as a reduction of the cost of the asset in arriving at its carrying value. The grant is thus recognized in earnings over the useful life of a depreciable asset by way of a reduced depreciation charge. | ||
Income Taxes | ' | |
Income Taxes | ||
The Company recognizes income taxes under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in earnings in the period that includes the enactment date. | ||
Estimating the future tax benefit associated with deferred tax assets requires significant judgment. Deferred tax assets arise from a variety of sources, the most significant being: tax losses that can be carried forward to be utilized against taxable income in future years; and expenses recognized in the Company’s financial statements but disallowed in the Company’s tax return until the associated cash flow occurs. | ||
The Company records a valuation allowance to reduce its deferred tax assets to the amount that is expected to be recognized. The valuation allowance is established if, based on available evidence, it is more-likely-than-not that all or some portion of the asset will not be realized due to the inability to generate sufficient taxable income in the period and/or of the character necessary to utilize the benefit of the deferred tax asset. When evaluating whether it is more-likely-than-not that all or some portion of the deferred tax asset will not be realized, all available evidence, both positive and negative, that may affect the realizability of deferred tax assets is identified and considered in determining the appropriate amount of the valuation allowance. The Company continues to monitor its financial performance and other evidence each quarter to determine the appropriateness of the Company’s valuation allowance. At each balance sheet date, existing assessments are reviewed and, if necessary, revised to reflect changed circumstances. | ||
The analysis of the Company’s ability to utilize its NOL balance is based on the Company’s forecasted taxable income. The forecasted assumptions approximate the Company’s best estimates, including market growth rates, future pricing, market acceptance of the Company’s products and services and future expected capital investments. If the Company is unable to meet its taxable income forecasts in future periods the Company may change its conclusion about the appropriateness of the valuation allowance which could create a substantial income tax expense in the Company’s consolidated statement of operations in the period such change occurs. | ||
Deferred tax liabilities related to investments in foreign subsidiaries and foreign corporate joint ventures that are essentially permanent in duration are not recognized until it becomes apparent that such amounts will reverse in the foreseeable future. | ||
The Company records interest related to unrecognized tax benefits and penalties in the provision for income taxes | ||
Fair Value of Financial Instruments | ' | |
Fair Value of Financial Instruments | ||
Relevant accounting literature defines and establishes a framework for measuring fair value, and requires expanded disclosures about fair value measurements. It also emphasizes that fair value is a market-based measurement, not an entity-specific measurement, and defines fair value as the price that would be received to sell an asset or transfer a liability in an orderly transaction between market participants at the measurement date. Valuation techniques that may be used include the market approach (comparable market prices), the income approach (present value of future income or cash flow) and the cost approach (cost to replace the service capacity of an asset or replacement cost), which are each based upon observable and unobservable inputs. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect the Company’s market assumptions. | ||
Fair Value Hierarchy | ||
A fair value hierarchy is established that requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The three levels of inputs that are used to measure fair value are: | ||
Level 1 | ||
Inputs to the valuation methodology are unadjusted quoted prices for identical assets or liabilities in active markets that the Company has the ability to access. | ||
Level 2 | ||
Inputs to the valuation methodology include: | ||
• | quoted prices for similar assets or liabilities in active markets; | |
• | quoted prices for identical or similar assets or liabilities in inactive markets; | |
• | inputs other than quoted prices that are observable for the asset or liability; and | |
• | inputs that are derived principally from or corroborated by observable market data by correlation or other means. | |
If the asset or liability has a specified (contractual) term, the Level 2 input must be observable for substantially the full term of the asset or liability. | ||
Level 3 | ||
Inputs to the valuation methodology are unobservable and significant to the fair value measurement. | ||
The Company views fair value as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities required to be recorded at fair value, management considers the principal or most advantageous market in which it would transact and considers assumptions that market participants would use when pricing the asset or liability, such as inherent risk, transfer restrictions, and risk of nonperformance. | ||
Concentration of Credit Risk | ' | |
Concentration of Credit Risk | ||
Financial instruments that potentially subject the Company to concentration of credit risk consist principally of cash investments and accounts receivable. The Company’s cash and cash equivalents are primarily held in commercial bank accounts in the United States. The Company limits its cash investments to high-quality financial institutions in order to minimize its credit risk. | ||
The Company’s trade receivables, which are unsecured, are geographically dispersed. During the years ended June 30, 2014 and 2013, the Company had no single customer that exceeded 10% of total revenue. During the year ended June 30, 2012, the Company had one customer that accounted for 12% of the total revenue recognized during the period. As of June 30, 2014, the Company had one customer with a trade receivable balance of 12% of total receivables. No customers’ trade receivable balance as of June 30, 2013 exceeded 10% of the Company’s consolidated net trade receivable balance. | ||
Recently Issued Accounting Pronouncements | ' | |
Recently Issued Accounting Pronouncements | ||
Discontinued Operations | ||
On April 10, 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-08—Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity. The amendments in the ASU change the criteria for reporting discontinued operations for all public and nonpublic entities. The amendments also require new disclosures about discontinued operations and disposals of components of an entity that do not qualify for discontinued operations reporting. The ASU is effective prospectively for disposals (or classifications as held-for-sale) that occur within annual periods beginning on or after December 15, 2014, and interim periods within those annual periods, for public entities, with early adoption permitted for disposals (or classifications as held-for-sale) that have not been reported in financial statements previously issued or available for issuance. The Company has not yet adopted the guidance under this ASU. | ||
Revenue Recognition | ||
On May 28, 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers, which requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. The ASU will replace most existing revenue recognition guidance in U.S. GAAP when it becomes effective. The new standard is effective for us on or after July 1, 2017. Early application is not permitted. The standard permits the use of either the retrospective or cumulative effect transition method. The Company is evaluating the effect that ASU 2014-09 will have on its consolidated financial statements and related disclosures. The Company has not yet selected a transition method nor has it determined the effect of the standard on its ongoing financial reporting. |
Acquisitions_Tables
Acquisitions (Tables) | 12 Months Ended | |||||||||||||||||||||||
Jun. 30, 2014 | ||||||||||||||||||||||||
Business Combinations [Abstract] | ' | |||||||||||||||||||||||
Schedule of Acquisitions | ' | |||||||||||||||||||||||
The table below reflects the Company's estimates of the acquisition date fair values of the assets and liabilities assumed from its Fiscal 2014 acquisitions: | ||||||||||||||||||||||||
Corelink | Access | Fiberlink | CoreXchange | Geo | ||||||||||||||||||||
Acquisition date | 1-Aug-13 | 1-Oct-13 | 2-Oct-13 | 4-Mar-14 | 16-May-14 | |||||||||||||||||||
Cash | $ | 93 | $ | 1,162 | $ | 1 | $ | — | $ | 13,739 | ||||||||||||||
Other current assets | 521 | 2,283 | 811 | 893 | 11,060 | |||||||||||||||||||
Property and equipment | 15,856 | 8,401 | 6,105 | 3,009 | 219,535 | |||||||||||||||||||
Deferred tax assets, net | — | — | 6,975 | 158 | — | |||||||||||||||||||
Intangibles | 156 | 16,000 | 17,200 | 10,148 | 61,164 | |||||||||||||||||||
Goodwill | 2,950 | 26,968 | 32,258 | 4,458 | 91,249 | |||||||||||||||||||
Other assets | 545 | — | 144 | 44 | 9,873 | |||||||||||||||||||
Total assets acquired | 20,121 | 54,814 | 63,494 | 18,710 | 406,620 | |||||||||||||||||||
Current liabilities | 718 | 989 | 1,153 | 607 | 22,226 | |||||||||||||||||||
Deferred revenue | 219 | 5,054 | 19,203 | 395 | 40,807 | |||||||||||||||||||
Other liabilities | 14,240 | — | — | 205 | — | |||||||||||||||||||
Deferred tax liability, net | 2,962 | 7,541 | — | — | 37,516 | |||||||||||||||||||
Total liabilities assumed | 18,139 | 13,584 | 20,356 | 1,207 | 100,549 | |||||||||||||||||||
Net assets acquired | 1,982 | 41,230 | 43,138 | 17,503 | 306,071 | |||||||||||||||||||
Less cash acquired | (93 | ) | (1,162 | ) | (1 | ) | — | (13,739 | ) | |||||||||||||||
Net consideration paid | $ | 1,889 | $ | 40,068 | $ | 43,137 | $ | 17,503 | $ | 292,332 | ||||||||||||||
The table below reflects the Company's estimates of the acquisition date fair values of the assets and liabilities assumed from its Fiscal 2013 acquisitions: | ||||||||||||||||||||||||
AboveNet | Fibergate | US Carrier | First Telecom | Litecast | Core NAP | |||||||||||||||||||
Acquisition date | July 2, 2012 | 31-Aug-12 | 1-Oct-12 | 14-Dec-12 | 31-Dec-12 | 31-May-13 | ||||||||||||||||||
Cash | $ | 139,137 | $ | 2,278 | $ | — | $ | — | $ | — | $ | — | ||||||||||||
Other current assets | 47,547 | 4,912 | 1,297 | 5,901 | 256 | 198 | ||||||||||||||||||
Property and equipment | 1,477,320 | 58,975 | 19,361 | 63,543 | 386 | 2,507 | ||||||||||||||||||
Deferred tax assets, net | 42,126 | — | 1,986 | 19,238 | 51 | — | ||||||||||||||||||
Intangibles | 460,161 | 35,963 | 6,820 | 17,135 | 12,510 | 4,105 | ||||||||||||||||||
Goodwill | 374,302 | 53,783 | 5,376 | 48,382 | 9,867 | 986 | ||||||||||||||||||
Other assets | 12,564 | 58 | 27 | 60 | — | — | ||||||||||||||||||
Total assets acquired | 2,553,157 | 155,969 | 34,867 | 154,259 | 23,070 | 7,796 | ||||||||||||||||||
Current liabilities | 77,004 | 1,508 | 3,742 | 4,560 | 209 | 543 | ||||||||||||||||||
Deferred revenue | 143,373 | 2,541 | 2,206 | 39,999 | 701 | — | ||||||||||||||||||
Other liabilities | 5,069 | — | — | — | — | 173 | ||||||||||||||||||
Deferred tax liability, net | — | 31,307 | — | — | — | — | ||||||||||||||||||
Total liabilities assumed | 225,446 | 35,356 | 5,948 | 44,559 | 910 | 716 | ||||||||||||||||||
Net assets acquired | 2,327,711 | 120,613 | 28,919 | 109,700 | 22,160 | 7,080 | ||||||||||||||||||
Net assets of Zayo Professional Services distributed to Parent (excluding cash) | 23,918 | — | — | — | — | — | ||||||||||||||||||
Cost method investment in USCarrier | — | — | (12,827 | ) | — | — | — | |||||||||||||||||
Less cash acquired | (139,137 | ) | (2,278 | ) | — | — | — | — | ||||||||||||||||
Net consideration paid | $ | 2,212,492 | $ | 118,335 | $ | 16,092 | $ | 109,700 | $ | 22,160 | $ | 7,080 | ||||||||||||
The table below reflects the Company's estimates of the acquisition date fair values of the acquired assets and liabilities assumed from its Fiscal 2012 acquisitions: | ||||||||||||||||||||||||
360networks | MarquisNet | Arialink | ||||||||||||||||||||||
Acquisition date | 1-Dec-11 | 31-Dec-11 | 1-May-12 | |||||||||||||||||||||
Cash | $ | 709 | $ | — | $ | 74 | ||||||||||||||||||
Other current assets | 10,722 | 64 | 97 | |||||||||||||||||||||
Property and equipment | 167,116 | 1,295 | 8,873 | |||||||||||||||||||||
Deferred tax assets, net | 85,076 | — | 741 | |||||||||||||||||||||
Intangibles | 23,959 | 7,874 | 6,807 | |||||||||||||||||||||
Goodwill | 100,335 | 4,735 | 3,753 | |||||||||||||||||||||
Other assets | 214 | — | 31 | |||||||||||||||||||||
Total assets acquired | 388,131 | 13,968 | 20,376 | |||||||||||||||||||||
Current liabilities | 32,304 | 254 | 1,295 | |||||||||||||||||||||
Deferred revenue | 45,455 | — | 2,685 | |||||||||||||||||||||
Other liabilities | 3,472 | 133 | 945 | |||||||||||||||||||||
Total liabilities assumed | 81,231 | 387 | 4,925 | |||||||||||||||||||||
Net assets acquired | 306,900 | 13,581 | 15,451 | |||||||||||||||||||||
Net assets contributed to OVS | 11,700 | — | 1,752 | |||||||||||||||||||||
Less cash acquired | (709 | ) | — | (74 | ) | |||||||||||||||||||
Net consideration paid | $ | 317,891 | $ | 13,581 | $ | 17,129 | ||||||||||||||||||
Schedule of Deferred Tax Assets and Liabilities | ' | |||||||||||||||||||||||
The tax effect of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities are as follows: | ||||||||||||||||||||||||
360networks | AboveNet | Geo | ||||||||||||||||||||||
December 1, 2011 | July 2, 2012 | 16-May-14 | ||||||||||||||||||||||
Deferred income tax assets: | ||||||||||||||||||||||||
Net operating loss carry forwards | $ | 29,587 | $ | 405,292 | $ | 2,529 | ||||||||||||||||||
Property and equipment | 41,071 | — | — | |||||||||||||||||||||
Deferred revenue | 16,456 | 49,140 | 4,908 | |||||||||||||||||||||
Accrued expenses | 2,301 | 12,243 | — | |||||||||||||||||||||
Allowance for doubtful accounts | 16 | 2,435 | — | |||||||||||||||||||||
Total deferred income tax assets | 89,431 | 469,110 | 7,437 | |||||||||||||||||||||
Deferred income tax liabilities: | ||||||||||||||||||||||||
Property and equipment | — | (249,963 | ) | (32,720 | ) | |||||||||||||||||||
Intangible assets | (4,355 | ) | (177,021 | ) | (12,233 | ) | ||||||||||||||||||
Total deferred income tax liabilities | (4,355 | ) | (426,984 | ) | (44,953 | ) | ||||||||||||||||||
Net deferred income tax assets/(liabilities) | $ | 85,076 | $ | 42,126 | $ | (37,516 | ) | |||||||||||||||||
The tax effect of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities are as follows: | ||||||||||||||||||||||||
As of June 30, | ||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||
Deferred income tax assets | ||||||||||||||||||||||||
Net operating loss carry forwards | $ | 418,157 | $ | 533,558 | ||||||||||||||||||||
Alternate minimum tax credit carryforwards | 6,175 | 181 | ||||||||||||||||||||||
Deferred revenue | 191,220 | 99,241 | ||||||||||||||||||||||
Accrued expenses | 22,176 | 19,573 | ||||||||||||||||||||||
Other liabilities | 4,367 | 5,108 | ||||||||||||||||||||||
Allowance for doubtful accounts | 6,261 | 3,203 | ||||||||||||||||||||||
Lease impairment liability | 3,212 | 4,017 | ||||||||||||||||||||||
Other | 2,076 | 3,931 | ||||||||||||||||||||||
Total deferred income tax assets | 653,644 | 668,812 | ||||||||||||||||||||||
Valuation allowance | (2,174 | ) | — | |||||||||||||||||||||
Net deferred tax assets | 651,470 | 668,812 | ||||||||||||||||||||||
Deferred income tax liabilities | ||||||||||||||||||||||||
Property and equipment | 374,391 | 331,511 | ||||||||||||||||||||||
Intangible assets | 230,697 | 220,551 | ||||||||||||||||||||||
Debt issuance costs | 27,261 | 31,674 | ||||||||||||||||||||||
Total deferred income tax liabilities | 632,349 | 583,736 | ||||||||||||||||||||||
Net deferred income tax asset | $ | 19,121 | $ | 85,076 | ||||||||||||||||||||
Schedule of Pro-Forma Financial Information (Unaudited) | ' | |||||||||||||||||||||||
The unaudited pro forma financial information below is not necessarily indicative of either future results of operations or results that might have been achieved had the acquisitions been consummated as of July 1, 2012. | ||||||||||||||||||||||||
Year Ended June 30, | ||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||
Revenue | $ | 1,158,545 | $ | 1,079,193 | ||||||||||||||||||||
Loss from continuing operations | $ | (183,153 | ) | $ | (265,157 | ) |
SpinOff_of_Business_Tables
Spin-Off of Business (Tables) | 12 Months Ended | |||||||||||
Jun. 30, 2014 | ||||||||||||
Discontinued Operations and Disposal Groups [Abstract] | ' | |||||||||||
Schedule of Earnings from Discontinued Operations | ' | |||||||||||
Earnings from discontinued operations, net of income taxes in the accompanying consolidated statements of operations are comprised of the following: | ||||||||||||
Year Ended June 30, | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Revenues | $ | — | $ | 6,474 | $ | — | ||||||
Earnings before income taxes | — | 3,011 | — | |||||||||
Income tax expense | — | 1,203 | — | |||||||||
Earnings from discontinued operations, net of income taxes | $ | — | $ | 1,808 | $ | — | ||||||
Property_and_Equipment_Tables
Property and Equipment (Tables) | 12 Months Ended | ||||||||||
Jun. 30, 2014 | |||||||||||
Property, Plant and Equipment [Abstract] | ' | ||||||||||
Schedule of Property and Equipment | ' | ||||||||||
Property and equipment, including assets held under capital leases, was comprised of the following: | |||||||||||
Estimated | |||||||||||
useful lives | As of June 30, | ||||||||||
(in years) | 2014 | 2013 | |||||||||
Land | N/A | $ | 712 | $ | 712 | ||||||
Building leasehold and site improvements | 15 to 20 | 64,120 | 50,094 | ||||||||
Furniture, fixtures and office equipment | 3 to 7 | 5,721 | 4,223 | ||||||||
Computer hardware | 3 to 5 | 16,648 | 14,130 | ||||||||
Software | 3 | 9,344 | 7,623 | ||||||||
Machinery and equipment | 5 to 7 | 94,881 | 58,364 | ||||||||
Fiber optic equipment | 8 | 583,693 | 483,508 | ||||||||
Circuit switch equipment | 10 | 11,817 | 11,173 | ||||||||
Packet switch equipment | 5 | 62,844 | 41,133 | ||||||||
Fiber optic network | 15 to 20 | 2,437,378 | 1,934,948 | ||||||||
Construction in progress | N/A | 258,872 | 249,168 | ||||||||
Total | 3,546,030 | 2,855,076 | |||||||||
Less accumulated depreciation | (737,721 | ) | (443,856 | ) | |||||||
Property and equipment, net | $ | 2,808,309 | $ | 2,411,220 | |||||||
Goodwill_Tables
Goodwill (Tables) | 12 Months Ended | |||||||||||||||||||||||||||||||
Jun. 30, 2014 | ||||||||||||||||||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | |||||||||||||||||||||||||||||||
Schedule Of Goodwill | ' | |||||||||||||||||||||||||||||||
The following rollforward reflects the allocation of goodwill acquired in the Company’s Fiscal 2013 and 2014 acquisitions to the Company’s reporting units (in thousands): | ||||||||||||||||||||||||||||||||
Waves | SONET | Ethernet | IP | MIG | Dark Fiber | zColo | Total | |||||||||||||||||||||||||
As of June 30, 2012 | $ | 57,110 | $ | 13,295 | $ | 24,257 | $ | 21,186 | $ | 10,131 | $ | 62,253 | $ | 5,571 | $ | 193,803 | ||||||||||||||||
Additions | ||||||||||||||||||||||||||||||||
AboveNet | 156,823 | 36,506 | 66,607 | 58,174 | 27,819 | 23,288 | 5,114 | 374,331 | ||||||||||||||||||||||||
FiberGate | — | — | — | — | — | 53,783 | — | 53,783 | ||||||||||||||||||||||||
USCarrier | 1,908 | 444 | 810 | 708 | 338 | 855 | 313 | 5,376 | ||||||||||||||||||||||||
First Telecom | 29 | 7 | 12 | 11 | 5 | 44,864 | 8 | 44,936 | ||||||||||||||||||||||||
Litecast | 706 | 164 | 300 | 262 | 125 | 8,277 | 34 | 9,868 | ||||||||||||||||||||||||
Core NAP | — | — | — | — | — | — | 5,674 | 5,674 | ||||||||||||||||||||||||
Foreign currency translation and other adjustments | (712 | ) | (130 | ) | (278 | ) | (268 | ) | (106 | ) | (3,451 | ) | (51 | ) | (4,996 | ) | ||||||||||||||||
As of June 30, 2013 | 215,864 | 50,286 | 91,708 | 80,073 | 38,312 | 189,869 | 16,663 | 682,775 | ||||||||||||||||||||||||
Additions: | ||||||||||||||||||||||||||||||||
First Telecom | 597 | — | 149 | — | — | 2,700 | — | 3,446 | ||||||||||||||||||||||||
Core NAP | — | — | — | — | — | — | (4,688 | ) | (4,688 | ) | ||||||||||||||||||||||
Corelink | — | — | — | — | — | — | 2,950 | 2,950 | ||||||||||||||||||||||||
Access | — | — | 5,129 | 137 | 5,823 | 15,879 | — | 26,968 | ||||||||||||||||||||||||
Fiberlink | — | — | — | — | — | 32,258 | — | 32,258 | ||||||||||||||||||||||||
CoreXchange | — | — | — | — | — | — | 4,458 | 4,458 | ||||||||||||||||||||||||
Geo | 25,654 | — | — | — | — | 65,595 | — | 91,249 | ||||||||||||||||||||||||
Foreign currency translation and other adjustments | 42 | — | 157 | 226 | — | 6,378 | 243 | 7,046 | ||||||||||||||||||||||||
As of June 30, 2014 | $ | 242,157 | $ | 50,286 | $ | 97,143 | $ | 80,436 | $ | 44,135 | $ | 312,679 | $ | 19,626 | $ | 846,462 | ||||||||||||||||
During the year ended June 30, 2014, goodwill increased by $7,046 primarily due to foreign currency movements impacting goodwill allocated to the U.K. operations. In addition, the Company recorded purchase accounting adjustments to acquisitions closed during the past twelve months, which resulted in a net decrease to goodwill of $1,242. The decrease primarily related to purchase accounting adjustments recorded during the second and fourth quarters of Fiscal 2014 in connection with the Company's final valuation of property, plant and equipment, intangible assets, and deferred revenue and associated deferred taxes impact for the First Telecom and Core NAP acquisitions. | ||||||||||||||||||||||||||||||||
Intangible_Assets_Tables
Intangible Assets (Tables) | 12 Months Ended | |||||||||||
Jun. 30, 2014 | ||||||||||||
Intangible Assets, Net (Excluding Goodwill) [Abstract] | ' | |||||||||||
Schedule Of Intangible Assets | ' | |||||||||||
Identifiable acquisition-related intangible assets as of June 30, 2014 and 2013 were as follows: | ||||||||||||
Gross | Accumulated | Net | ||||||||||
Carrying | Amortization | |||||||||||
Amount | ||||||||||||
30-Jun-14 | ||||||||||||
Finite-Lived Intangible Assets | ||||||||||||
Customer relationships | $ | 764,905 | $ | (100,513 | ) | $ | 664,392 | |||||
Tradenames | 85 | (11 | ) | 74 | ||||||||
Underlying rights | 1,760 | (116 | ) | 1,644 | ||||||||
766,750 | (100,640 | ) | 666,110 | |||||||||
Indefinite-Lived Intangible Assets | ||||||||||||
Certifications | 3,488 | — | 3,488 | |||||||||
Underlying rights | 19,426 | — | 19,426 | |||||||||
Total | $ | 789,664 | $ | (100,640 | ) | $ | 689,024 | |||||
June 30, 2013 | ||||||||||||
Finite-Lived Intangible Assets | ||||||||||||
Customer relationships | $ | 715,730 | $ | (84,570 | ) | $ | 631,160 | |||||
Tradenames | 1,179 | (590 | ) | 589 | ||||||||
Underlying rights | 1,075 | (54 | ) | 1,021 | ||||||||
717,984 | (85,214 | ) | 632,770 | |||||||||
Indefinite-Lived Intangible Assets | ||||||||||||
Certifications | 3,488 | — | 3,488 | |||||||||
Total | $ | 721,472 | $ | (85,214 | ) | $ | 636,258 | |||||
Schedule of Estimated Future Amortization of Finite-Lived Intangible Assets | ' | |||||||||||
Estimated future amortization of finite-lived intangible assets is as follows: | ||||||||||||
Year Ended June 30, | ||||||||||||
2015 | 44,505 | |||||||||||
2016 | 44,323 | |||||||||||
2017 | 44,323 | |||||||||||
2018 | 44,323 | |||||||||||
2019 | 44,323 | |||||||||||
Thereafter | 444,313 | |||||||||||
Total | $ | 666,110 | ||||||||||
LongTerm_Debt_Tables
Long-Term Debt (Tables) | 12 Months Ended | ||||||
Jun. 30, 2014 | |||||||
Debt Disclosure [Abstract] | ' | ||||||
Schedule of Debt | ' | ||||||
As of June 30, 2014 and 2013, long-term debt was as follows: | |||||||
(dollars in thousands) | June 30, | June 30, | |||||
2014 | 2013 | ||||||
Term Loan Facility due 2019 | $ | 2,010,776 | $ | 1,603,800 | |||
8.125% Senior Secured First Priority Notes due 2020 | 750,000 | 750,000 | |||||
10.125% Senior Unsecured Notes due 2020 | 500,000 | 500,000 | |||||
Total Debt Obligations | 3,260,776 | 2,853,800 | |||||
Unamortized discount on senior Secured Term Loan due 2019 | (20,653 | ) | (23,095 | ) | |||
Carrying value of debt | 3,240,123 | 2,830,705 | |||||
Less current portion | (20,450 | ) | (16,200 | ) | |||
Long-term debt, less current portion | $ | 3,219,673 | $ | 2,814,505 | |||
Schedule of Fixed-Charge Coverage Ratios | ' | ||||||
Pursuant to the Credit Agreement, the Company shall not permit its Fixed Charge Coverage Ratio, which is defined in the Credit Agreement as the ratio of the Company's annualized modified EBITDA (as defined in the Credit Agreement) during the most recent quarter minus Capital Expenditures (as defined in the Credit Agreement) for the twelve month period ended as of the end of each applicable fiscal quarter to interest expense for that same period to be less than the minimum ratio for the applicable period set forth below: | |||||||
Fiscal Quarters Ending | Minimum | ||||||
Ratio | |||||||
September 30, 2014, December 31, 2014 and March 31, 2015 | 2.00 to 1.0 | ||||||
June 30, 2015, September 30, 2015 and December 31, 2015 | 2.25 to 1.0 | ||||||
March 31, 2016, June 30, 2016 and September 30, 2016 | 2.50 to 1.0 | ||||||
December 31, 2016 and for each fiscal quarter thereafter | 2.75 to 1.0 | ||||||
Schedule Of Debt Instrument Redemption Price | ' | ||||||
On or after July 1, 2015 (for the Senior Secured Notes) or July 1, 2016 (for the Senior Unsecured Notes) the Company may redeem all or part of the Notes, at the redemption prices (expressed as percentages of principal amount and set forth below), plus accrued and unpaid interest and additional interest, if any, thereon, to the applicable redemption date, subject to the rights of the holders of the Notes on the relevant record date to receive interest due on the relevant interest payment date, if redeemed during the 12-month period beginning on July 1 of the years indicated below: | |||||||
Year | Redemption Price | ||||||
(Senior Secured Notes) | |||||||
2015 | 104.06% | ||||||
2016 | 102.03% | ||||||
2017 and thereafter | 100.00% | ||||||
Year | Redemption Price | ||||||
(Senior Unsecured Notes) | |||||||
2016 | 105.06% | ||||||
2017 | 102.53% | ||||||
2018 and thereafter | 100.00% | ||||||
Schedule of Future Contractual Maturities of Long-term Debt | ' | ||||||
Aggregate future contractual maturities of long-term debt (excluding issue discounts and premiums) were as follows as of June 30, 2014: | |||||||
Year Ended June 30, | |||||||
2015 | 20,450 | ||||||
2016 | 20,450 | ||||||
2017 | 20,450 | ||||||
2018 | 20,450 | ||||||
2019 | 20,450 | ||||||
Thereafter | 3,158,526 | ||||||
Total | $ | 3,260,776 | |||||
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | ||||||||||||
Jun. 30, 2014 | |||||||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||||||
Schedule of Provision for Income Taxes | ' | ||||||||||||
The Company’s provision/(benefit) for income taxes from continuing operations is summarized as follows: | |||||||||||||
Year Ended June 30, | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Federal income taxes – current | $ | 6,155 | $ | — | $ | (625 | ) | ||||||
Federal income taxes – deferred | 24,287 | (25,598 | ) | 22,206 | |||||||||
Federal income taxes | 30,442 | (25,598 | ) | 21,581 | |||||||||
State income taxes – current | 3,642 | 1,661 | (945 | ) | |||||||||
State income taxes – deferred | 1,042 | (3,649 | ) | 8,921 | |||||||||
State income taxes | 4,684 | (1,988 | ) | 7,976 | |||||||||
Foreign income taxes – current | 3,336 | — | — | ||||||||||
Foreign income taxes – deferred | (613 | ) | 3,540 | — | |||||||||
Foreign income taxes | 2,723 | 3,540 | — | ||||||||||
Total provision/(benefit) for income taxes | $ | 37,849 | $ | (24,046 | ) | $ | 29,557 | ||||||
Schedule of Income before Income Tax | ' | ||||||||||||
The United States and foreign components of (loss)/benefit from continuing operations before income taxes for each of the three years ended June 30, 2014, 2013 and 2012 are as follows: | |||||||||||||
Year ended June 30, | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
United States | $ | (9,048 | ) | $ | 15,840 | $ | — | ||||||
Foreign | (133,580 | ) | (184,451 | ) | 23,708 | ||||||||
Total | $ | (142,628 | ) | $ | (168,611 | ) | $ | 23,708 | |||||
Schedule of Reconciliation of Income Tax Provision | ' | ||||||||||||
A reconciliation of the actual income tax provision and the tax computed by applying the U.S. federal rate to the earnings before income taxes during the years ended June 30, 2014, 2013 and 2012 are as follows: | |||||||||||||
Year ended June 30, | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Expected (benefit)/provision at the statutory rate | $ | (49,859 | ) | $ | (59,046 | ) | $ | 8,298 | |||||
Increase due to: | |||||||||||||
Non-deductible stock-based compensation | 96,342 | 35,576 | 8,685 | ||||||||||
State income taxes (benefit)/provision, net of federal benefit | (6,519 | ) | (2,201 | ) | 5,184 | ||||||||
Transactions costs not deductible for tax purposes | 759 | 1,257 | 1,416 | ||||||||||
Provision/(reversal) for uncertain tax positions, net | (2,600 | ) | — | 5,808 | |||||||||
State NOL adjustment | — | 2,788 | — | ||||||||||
Change in effective tax rate | (286 | ) | — | 459 | |||||||||
Change in valuation allowance | 1,284 | — | — | ||||||||||
Foreign tax rate differential | 991 | (2,264 | ) | — | |||||||||
Other, net | (2,263 | ) | (156 | ) | (293 | ) | |||||||
Provision/(benefit) for income taxes | $ | 37,849 | $ | (24,046 | ) | $ | 29,557 | ||||||
Schedule of Deferred Tax Assets and Liabilities | ' | ||||||||||||
The tax effect of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities are as follows: | |||||||||||||
360networks | AboveNet | Geo | |||||||||||
December 1, 2011 | July 2, 2012 | 16-May-14 | |||||||||||
Deferred income tax assets: | |||||||||||||
Net operating loss carry forwards | $ | 29,587 | $ | 405,292 | $ | 2,529 | |||||||
Property and equipment | 41,071 | — | — | ||||||||||
Deferred revenue | 16,456 | 49,140 | 4,908 | ||||||||||
Accrued expenses | 2,301 | 12,243 | — | ||||||||||
Allowance for doubtful accounts | 16 | 2,435 | — | ||||||||||
Total deferred income tax assets | 89,431 | 469,110 | 7,437 | ||||||||||
Deferred income tax liabilities: | |||||||||||||
Property and equipment | — | (249,963 | ) | (32,720 | ) | ||||||||
Intangible assets | (4,355 | ) | (177,021 | ) | (12,233 | ) | |||||||
Total deferred income tax liabilities | (4,355 | ) | (426,984 | ) | (44,953 | ) | |||||||
Net deferred income tax assets/(liabilities) | $ | 85,076 | $ | 42,126 | $ | (37,516 | ) | ||||||
The tax effect of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities are as follows: | |||||||||||||
As of June 30, | |||||||||||||
2014 | 2013 | ||||||||||||
Deferred income tax assets | |||||||||||||
Net operating loss carry forwards | $ | 418,157 | $ | 533,558 | |||||||||
Alternate minimum tax credit carryforwards | 6,175 | 181 | |||||||||||
Deferred revenue | 191,220 | 99,241 | |||||||||||
Accrued expenses | 22,176 | 19,573 | |||||||||||
Other liabilities | 4,367 | 5,108 | |||||||||||
Allowance for doubtful accounts | 6,261 | 3,203 | |||||||||||
Lease impairment liability | 3,212 | 4,017 | |||||||||||
Other | 2,076 | 3,931 | |||||||||||
Total deferred income tax assets | 653,644 | 668,812 | |||||||||||
Valuation allowance | (2,174 | ) | — | ||||||||||
Net deferred tax assets | 651,470 | 668,812 | |||||||||||
Deferred income tax liabilities | |||||||||||||
Property and equipment | 374,391 | 331,511 | |||||||||||
Intangible assets | 230,697 | 220,551 | |||||||||||
Debt issuance costs | 27,261 | 31,674 | |||||||||||
Total deferred income tax liabilities | 632,349 | 583,736 | |||||||||||
Net deferred income tax asset | $ | 19,121 | $ | 85,076 | |||||||||
Schedule of Unrecognized Tax Benefits | ' | ||||||||||||
A reconciliation of the beginning and ending amount of unrecognized tax benefits, excluding interest and penalties, is as follows: | |||||||||||||
2014 | 2013 | ||||||||||||
Balance, beginning of year | $ | 6,416 | $ | 6,416 | |||||||||
Decreases | (6,416 | ) | — | ||||||||||
Balance, end of year | $ | — | $ | 6,416 | |||||||||
Accrued_Liabilities_Tables
Accrued Liabilities (Tables) | 12 Months Ended | ||||||||
Jun. 30, 2014 | |||||||||
Accrued Liabilities [Abstract] | ' | ||||||||
Schedule of Accrued Liabilities | ' | ||||||||
Accrued liabilities included in current liabilities consisted of the following: | |||||||||
Year Ended June 30, | |||||||||
2014 | 2013 | ||||||||
Accrued compensation and benefits | $ | 12,884 | $ | 10,357 | |||||
Accrued property and equipment purchases | 46,150 | 26,301 | |||||||
Network expense accruals | 70,157 | 46,704 | |||||||
Other accrued taxes | 9,307 | 11,095 | |||||||
Deferred lease obligations | 2,287 | 2,709 | |||||||
Accrued professional fees | 3,806 | 2,547 | |||||||
Other accruals | 13,925 | 16,219 | |||||||
Total | $ | 158,516 | $ | 115,932 | |||||
StockBased_Compensation_Tables
Stock-Based Compensation (Tables) | 12 Months Ended | ||||||||||||||||||||||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||||||||||||||||||||||
Share-based Compensation [Abstract] | ' | ||||||||||||||||||||||||||||||||||||
Schedule Of Estimated Fair Value Of Common Units | ' | ||||||||||||||||||||||||||||||||||||
As of June 30, 2014 and 2013, the estimated fair value of the common units was as follows: | |||||||||||||||||||||||||||||||||||||
As of June 30, | |||||||||||||||||||||||||||||||||||||
Common Unit Class | 2014 | 2013 | |||||||||||||||||||||||||||||||||||
(estimated per unit value) | |||||||||||||||||||||||||||||||||||||
Class A | $ | 2.47 | $ | 1.5 | |||||||||||||||||||||||||||||||||
Class B | 2.22 | 1.34 | |||||||||||||||||||||||||||||||||||
Class C | 1.92 | 1.14 | |||||||||||||||||||||||||||||||||||
Class D | 1.86 | 1.1 | |||||||||||||||||||||||||||||||||||
Class E | 1.62 | 0.95 | |||||||||||||||||||||||||||||||||||
Class F | 1.44 | 0.75 | |||||||||||||||||||||||||||||||||||
Class G | 0.82 | 0.46 | |||||||||||||||||||||||||||||||||||
Class H | 0.7 | 0.38 | |||||||||||||||||||||||||||||||||||
Class I | 0.45 | n/a | |||||||||||||||||||||||||||||||||||
Class J | 0.33 | n/a | |||||||||||||||||||||||||||||||||||
Class K | 0.29 | n/a | |||||||||||||||||||||||||||||||||||
Common Unit Liquidation Thresholds by Stock Series | ' | ||||||||||||||||||||||||||||||||||||
Common unit holders of each of the following classes begin sharing in the proceeds of a liquidation event once the total amount distributed to earlier classes reaches the following liquidation thresholds: | |||||||||||||||||||||||||||||||||||||
Common Unit Class | Liquidation Threshold | ||||||||||||||||||||||||||||||||||||
Class A | $ | — | |||||||||||||||||||||||||||||||||||
Class B | 15,000 | ||||||||||||||||||||||||||||||||||||
Class C | 40,000 | ||||||||||||||||||||||||||||||||||||
Class D | 45,000 | ||||||||||||||||||||||||||||||||||||
Class E | 75,000 | ||||||||||||||||||||||||||||||||||||
Class F | 95,000 | ||||||||||||||||||||||||||||||||||||
Class G | 235,000 | ||||||||||||||||||||||||||||||||||||
Class H | 290,000 | ||||||||||||||||||||||||||||||||||||
Class I | 435,000 | ||||||||||||||||||||||||||||||||||||
Class J | 515,000 | ||||||||||||||||||||||||||||||||||||
Class K | 545,000 | ||||||||||||||||||||||||||||||||||||
Schedule of Common Units Issuance and Forfeitures | ' | ||||||||||||||||||||||||||||||||||||
The following table represents the activity as it relates to common unit issuances and forfeitures during the years ended June 30, 2014, 2013 and 2012. | |||||||||||||||||||||||||||||||||||||
Class A | Class B | Class C | Class D | Class E | Class F | Class G | Class H | Class I | Class J | Class K | Totals | ||||||||||||||||||||||||||
Balance at June 30, 2011 | 47,097,128 | 17,247,520 | 2,787,718 | 32,389,470 | 10,290,905 | — | — | — | — | — | — | 109,812,741 | |||||||||||||||||||||||||
Common units issued | — | — | — | — | — | 63,450,000 | — | — | — | — | — | 63,450,000 | |||||||||||||||||||||||||
Common units forfeited | — | (318,749 | ) | (610,936 | ) | (1,740,931 | ) | (808,333 | ) | (700,000 | ) | — | — | — | — | — | (4,178,949 | ) | |||||||||||||||||||
Balance at June 30, 2012 | 47,097,128 | 16,928,771 | 2,176,782 | 30,648,539 | 9,482,572 | 62,750,000 | — | — | — | — | — | 169,083,792 | |||||||||||||||||||||||||
Common units issued | — | — | — | — | — | 2,500,000 | 192,747,213 | 118,930,832 | — | — | — | 314,178,045 | |||||||||||||||||||||||||
Common units forfeited | (50,000 | ) | (42,917 | ) | (24,999 | ) | (732,944 | ) | (51,389 | ) | (3,038,056 | ) | (17,001,364 | ) | (1,115,188 | ) | — | — | — | (22,056,857 | ) | ||||||||||||||||
Balance at June 30, 2013 | 47,047,128 | 16,885,854 | 2,151,783 | 29,915,595 | 9,431,183 | 62,211,944 | 175,745,849 | 117,815,644 | — | — | — | 461,204,980 | |||||||||||||||||||||||||
Common units issued | — | — | — | — | — | — | — | 598,822 | 46,107,213 | 60,000,009 | 8,015,000 | 114,721,044 | |||||||||||||||||||||||||
Common units forfeited | — | — | — | (23,000 | ) | (58,334 | ) | (365,547 | ) | (4,756,655 | ) | (3,755,033 | ) | (1,258,739 | ) | (687,472 | ) | — | (10,904,780 | ) | |||||||||||||||||
Common units cancelled | (1,421,667 | ) | (580,000 | ) | (250,000 | ) | (1,840,027 | ) | — | (1,300,000 | ) | (2,312,692 | ) | (3,198,495 | ) | (781,597 | ) | (824,428 | ) | — | (12,508,906 | ) | |||||||||||||||
Balance at June 30, 2014 | 45,625,461 | 16,305,854 | 1,901,783 | 28,052,568 | 9,372,849 | 60,546,397 | 168,676,502 | 111,460,938 | 44,066,877 | 58,488,109 | 8,015,000 | 552,512,338 | |||||||||||||||||||||||||
Vested Common Units | 45,625,461 | 16,305,854 | 1,901,783 | 28,052,568 | 9,372,849 | 46,975,841 | 108,632,421 | 48,947,369 | — | — | — | 305,814,146 | |||||||||||||||||||||||||
Unvested Common Units | — | — | — | — | — | 13,570,556 | 60,044,081 | 62,513,569 | 44,066,877 | 58,488,109 | 8,015,000 | 246,698,192 | |||||||||||||||||||||||||
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 12 Months Ended | |||||||||
Jun. 30, 2014 | ||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||
Schedule Of Financial Instruments Measured At Fair Value On A Recurring Basis | ' | |||||||||
The Company records its interest rate swaps and stock-based compensation liability at their estimated fair value. Financial instruments measured at fair value on a recurring basis are summarized below: | ||||||||||
Level | 30-Jun-14 | 30-Jun-13 | ||||||||
Assets Recorded at Fair Value in the Financial Statements: | ||||||||||
Interest rate swap | Level 2 | $ | — | 2,642 | ||||||
Liabilities Recorded at Fair Value in the Financial Statements: | ||||||||||
Interest rate swap | Level 2 | $ | 2,014 | $ | — | |||||
Stock-based compensation liability | Level 3 | $ | 391,305 | $ | 158,520 | |||||
The Company’s stock-based compensation liability related to CII common unit grants to employees is measured at fair value each reporting date. Various assumptions are utilized in the valuation that impact the resulting fair values calculated for each grant class, the most sensitive of which is the enterprise valuation multiple used under each exit scenario. An increase of 1.0x in these multiples would increase the corresponding stock-based compensation expense and liability by approximately $57,070 as of June 30, 2014. |
Commitments_and_Contingencies_
Commitments and Contingencies (Tables) | 12 Months Ended | |||
Jun. 30, 2014 | ||||
Commitments and Contingencies Disclosure [Abstract] | ' | |||
Schedule of Future Contractual Capital Lease Payments | ' | |||
Future contractual payments under the terms of the Company’s capital lease obligations were as follows: | ||||
Year Ended June 30, | ||||
2015 | $ | 4,012 | ||
2016 | 3,402 | |||
2017 | 4,580 | |||
2018 | 3,554 | |||
2019 | 3,224 | |||
Thereafter | 13,176 | |||
Total minimum lease payments | 31,948 | |||
Less amounts representing interest | (6,677 | ) | ||
Less current portion | (2,415 | ) | ||
Capital lease obligations, non-current | $ | 22,856 | ||
Schedule of Future Contractual Long-Term Operating Lease Payments | ' | |||
Minimum contractual lease payments due under the Company’s long-term operating leases are as follows | ||||
Year Ended June 30, | ||||
2015 | $ | 96,492 | ||
2016 | 80,752 | |||
2017 | 68,355 | |||
2018 | 60,309 | |||
2019 | 50,293 | |||
Thereafter | 497,883 | |||
$ | 854,084 | |||
Schedule of Lease Termination Liability | ' | |||
A summary of the lease termination charges and related activity follows: | ||||
Lease Termination Liability (in thousands) | ||||
Balance as of June 30, 2012 | $ | — | ||
Charges | 10,360 | |||
Accretion | 3 | |||
Payments | (290 | ) | ||
Balance as of June 30, 2013 | 10,073 | |||
Change in assumption | (41 | ) | ||
Accretion | 89 | |||
Payments | (2,068 | ) | ||
Balance as of June 30, 2014 | 8,053 | |||
Less current portion | 1,707 | |||
Lease termination liability- long term | $ | 6,346 | ||
RelatedParty_Transactions_Tabl
Related-Party Transactions (Tables) | 12 Months Ended | |||||||||||
Jun. 30, 2014 | ||||||||||||
Related Party Transactions [Abstract] | ' | |||||||||||
Revenue and Expense Transactions Recognized | ' | |||||||||||
The following table represents the revenue and expense transactions we recognized with Onvoy for the periods presented: | ||||||||||||
Year Ended June 30, | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
(in thousands) | ||||||||||||
Revenues | $ | 7,029 | 6,639 | 6,467 | ||||||||
Operating costs | $ | (1,627 | ) | (1,515 | ) | (2,675 | ) | |||||
The following table represents the revenue and expense transactions we recognized with ZPS for the periods presented: | ||||||||||||
Year Ended June 30, | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
(in thousands) | ||||||||||||
Revenues | $ | 5,304 | $ | 5,434 | $ | — | ||||||
Operating costs | $ | — | $ | — | $ | — | ||||||
Segment_Reporting_Tables
Segment Reporting (Tables) | 12 Months Ended | |||||||||||||||
Jun. 30, 2014 | ||||||||||||||||
Segment Reporting [Abstract] | ' | |||||||||||||||
Summary of Significant Financial Information | ' | |||||||||||||||
For the year ended June 30, 2014 | ||||||||||||||||
Physical Infrastructure | Lit Services | Corp/ | Total | |||||||||||||
elimination | ||||||||||||||||
Revenue from external customers | $ | 498,235 | $ | 608,675 | $ | — | $ | 1,106,910 | ||||||||
Segment Adjusted EBITDA | $ | 325,646 | $ | 326,654 | $ | 29 | $ | 652,329 | ||||||||
Total assets | $ | 2,851,766 | $ | 1,739,139 | $ | 413,682 | $ | 5,004,587 | ||||||||
Capital expenditures, net of stimulus grant reimbursements | $ | 209,147 | $ | 151,610 | $ | — | $ | 360,757 | ||||||||
For the year ended June 30, 2013 | ||||||||||||||||
Physical infrastructure | Lit services | Corp/elimination | Total | |||||||||||||
Revenue from external customers | $ | 416,277 | $ | 573,335 | $ | (1,527 | ) | $ | 988,085 | |||||||
Segment Adjusted EBITDA | $ | 276,188 | $ | 278,355 | $ | (1,561 | ) | $ | 552,982 | |||||||
Total assets | $ | 2,300,599 | $ | 1,685,510 | $ | 141,782 | $ | 4,127,891 | ||||||||
Capital expenditures, net of stimulus grant reimbursements | $ | 180,261 | $ | 142,940 | $ | — | $ | 323,201 | ||||||||
For the year ended June 30, 2012 | ||||||||||||||||
Physical infrastructure | Lit services | Corp/elimination | Total | |||||||||||||
Revenue from external customers | $ | 157,419 | $ | 224,624 | $ | — | $ | 382,043 | ||||||||
Segment Adjusted EBITDA | $ | 101,060 | $ | 92,120 | $ | 1,340 | $ | 194,520 | ||||||||
Total assets | $ | 611,777 | $ | 483,755 | $ | 276,572 | $ | 1,372,104 | ||||||||
Capital expenditures, net of stimulus grant reimbursements | $ | 38,809 | $ | 85,328 | $ | — | $ | 124,137 | ||||||||
Reconciliation from net earnings/(loss) to Adjusted EBITDA by segment and on a consolidated basis | ' | |||||||||||||||
Reconciliation from Total Segment Adjusted EBITDA to net earnings/(loss) from continuing operations before income taxes | ||||||||||||||||
For the year ended June 30, | ||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||
Total Segment Adjusted EBITDA | $ | 652,329 | $ | 552,982 | $ | 194,520 | ||||||||||
Interest expense | (203,508 | ) | (202,464 | ) | (50,720 | ) | ||||||||||
Depreciation and amortization expense | (336,407 | ) | (322,680 | ) | (84,961 | ) | ||||||||||
Transaction costs | (4,495 | ) | (14,204 | ) | (6,630 | ) | ||||||||||
Impairment of cost method investment | — | — | (2,248 | ) | ||||||||||||
Stock-based compensation | (253,361 | ) | (105,048 | ) | (26,253 | ) | ||||||||||
Loss on extinguishment of debt | (1,911 | ) | (77,253 | ) | — | |||||||||||
Unrealized foreign currency translation gain | 4,725 | 56 | — | |||||||||||||
Net (loss)/earnings from continuing operations before provision for income taxes | $ | (142,628 | ) | $ | (168,611 | ) | $ | 23,708 | ||||||||
Schedule of Geographical Information | ' | |||||||||||||||
The following is a summary of geographical information (dollars in thousands): | ||||||||||||||||
For the year ended June 30, | ||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||
Revenue from external customers: | ||||||||||||||||
United States | $ | 1,036,501 | $ | 930,233 | $ | 382,043 | ||||||||||
United Kingdom | 70,271 | 57,488 | — | |||||||||||||
Japan | 138 | 364 | — | |||||||||||||
$ | 1,106,910 | $ | 988,085 | $ | 382,043 | |||||||||||
Long-lived assets: | ||||||||||||||||
United States | $ | 3,135,253 | $ | 3,055,917 | $ | 961,921 | ||||||||||
United Kingdom | 488,658 | 120,221 | — | |||||||||||||
Japan | 406 | 2 | — | |||||||||||||
$ | 3,624,317 | $ | 3,176,140 | $ | 961,921 | |||||||||||
The Company includes all non-current assets, except for goodwill, in its long-lived assets. |
Condensed_Consolidating_Financ1
Condensed Consolidating Financial Information (Tables) | 12 Months Ended | ||||||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||||||
Condensed Consolidating Financial Information [Abstract] | ' | ||||||||||||||||||||
Schedule of Condensed Consolidating Balance Sheets | ' | ||||||||||||||||||||
Condensed Consolidating Balance Sheet | |||||||||||||||||||||
June 30, 2014 | |||||||||||||||||||||
Zayo Group, | Guarantor | Non- | Eliminations | Total | |||||||||||||||||
LLC | Subsidiaries | Guarantor | |||||||||||||||||||
Subsidiaries | |||||||||||||||||||||
(Issuer) | |||||||||||||||||||||
Assets | |||||||||||||||||||||
Current assets | |||||||||||||||||||||
Cash and cash equivalents | $ | 256,038 | $ | 1,013 | $ | 35,563 | $ | — | $ | 292,614 | |||||||||||
Trade receivables, net | 33,513 | 6,044 | 15,450 | — | 55,007 | ||||||||||||||||
Due from related parties | 1,011 | — | 595 | (754 | ) | 852 | |||||||||||||||
Prepaid expenses | 18,834 | 1,364 | 5,286 | — | 25,484 | ||||||||||||||||
Deferred income taxes | 155,977 | — | 1,475 | — | 157,452 | ||||||||||||||||
Other assets, current | 1,928 | 1 | 470 | — | 2,399 | ||||||||||||||||
Total current assets | 467,301 | 8,422 | 58,839 | (754 | ) | 533,808 | |||||||||||||||
Property and equipment, net | 2,389,270 | 95,209 | 323,830 | — | 2,808,309 | ||||||||||||||||
Intangible assets, net | 563,724 | 29,756 | 95,544 | — | 689,024 | ||||||||||||||||
Goodwill | 683,461 | 17,832 | 145,169 | — | 846,462 | ||||||||||||||||
Debt issuance costs, net | 89,380 | — | — | — | 89,380 | ||||||||||||||||
Other assets | 23,406 | 3,347 | 10,851 | 37,604 | |||||||||||||||||
Related party note receivable, long-term | 267,770 | — | — | (267,770 | ) | — | |||||||||||||||
Investment in subsidiary | 303,703 | — | — | (303,703 | ) | — | |||||||||||||||
Total assets | $ | 4,788,015 | $ | 154,566 | $ | 634,233 | $ | (572,227 | ) | $ | 5,004,587 | ||||||||||
Liabilities and member’s equity | |||||||||||||||||||||
Current liabilities | |||||||||||||||||||||
Current portion of long-term debt | $ | 20,450 | $ | — | $ | — | $ | — | $ | 20,450 | |||||||||||
Accounts payable | 20,654 | 4,288 | 2,014 | — | 26,956 | ||||||||||||||||
Accrued liabilities | 125,135 | 7,101 | 26,280 | — | 158,516 | ||||||||||||||||
Accrued interest | 57,059 | — | — | — | 57,059 | ||||||||||||||||
Capital lease obligations, current | 1,562 | 853 | — | — | 2,415 | ||||||||||||||||
Due to related parties | — | — | 754 | (754 | ) | — | |||||||||||||||
Deferred revenue, current | 56,723 | 1,419 | 17,071 | — | 75,213 | ||||||||||||||||
Total current liabilities | 281,583 | 13,661 | 46,119 | (754 | ) | 340,609 | |||||||||||||||
Long-term debt, non-current | 3,219,673 | — | — | — | 3,219,673 | ||||||||||||||||
Related party debt, long-term | — | — | 267,770 | (267,770 | ) | — | |||||||||||||||
Capital lease obligations, non-current | 5,495 | 15,628 | 1,733 | — | 22,856 | ||||||||||||||||
Deferred revenue, non-current | 459,452 | 4,026 | 33,417 | — | 496,895 | ||||||||||||||||
Stock-based compensation liability | 343,849 | 22,212 | 25,244 | — | 391,305 | ||||||||||||||||
Deferred income taxes, net | 92,996 | — | 45,335 | — | 138,331 | ||||||||||||||||
Other long-term liabilities | 12,376 | 9,810 | 141 | — | 22,327 | ||||||||||||||||
Total liabilities | 4,415,424 | 65,337 | 419,759 | (268,524 | ) | 4,631,996 | |||||||||||||||
Member’s equity | |||||||||||||||||||||
Member’s interest | 753,506 | 49,562 | 205,022 | (303,703 | ) | 704,387 | |||||||||||||||
Accumulated other comprehensive loss | — | — | 14,456 | — | 14,456 | ||||||||||||||||
(Accumulated deficit)/retained earnings | (380,915 | ) | 39,667 | (5,004 | ) | — | (346,252 | ) | |||||||||||||
Total member’s equity | 372,591 | 89,229 | 214,474 | (303,703 | ) | 372,591 | |||||||||||||||
Total liabilities and member’s equity | $ | 4,788,015 | $ | 154,566 | $ | 634,233 | $ | (572,227 | ) | $ | 5,004,587 | ||||||||||
Condensed Consolidating Balance Sheet | |||||||||||||||||||||
June 30, 2013 | |||||||||||||||||||||
Zayo Group, | Guarantor | Non- | Eliminations | Total | |||||||||||||||||
LLC | Subsidiaries | Guarantor | |||||||||||||||||||
Subsidiaries | |||||||||||||||||||||
(Issuer) | |||||||||||||||||||||
Assets | |||||||||||||||||||||
Current assets | |||||||||||||||||||||
Cash and cash equivalents | $ | 83,608 | $ | 1,009 | $ | 3,531 | $ | — | $ | 88,148 | |||||||||||
Trade receivables, net | 52,377 | 4,284 | 11,150 | — | 67,811 | ||||||||||||||||
Due from related parties | 2,113 | — | (384 | ) | (1,107 | ) | 622 | ||||||||||||||
Prepaid expenses | 14,768 | 1,634 | 2,786 | — | 19,188 | ||||||||||||||||
Deferred income taxes | 90,356 | — | — | — | 90,356 | ||||||||||||||||
Other assets, current | 2,843 | 6 | 2 | — | 2,851 | ||||||||||||||||
Total current assets | 246,065 | 6,933 | 17,085 | (1,107 | ) | 268,976 | |||||||||||||||
Property and equipment, net | 2,274,764 | 48,673 | 87,783 | — | 2,411,220 | ||||||||||||||||
Intangible assets, net | 585,590 | 18,695 | 31,973 | — | 636,258 | ||||||||||||||||
Goodwill | 620,812 | 15,055 | 46,908 | — | 682,775 | ||||||||||||||||
Debt issuance costs, net | 99,098 | — | — | — | 99,098 | ||||||||||||||||
Deferred income taxes, net | 280 | — | — | — | 280 | ||||||||||||||||
Other assets, non-current | 25,332 | 3,130 | 822 | — | 29,284 | ||||||||||||||||
Related party note receivable, long-term | 10,427 | — | — | (10,427 | ) | — | |||||||||||||||
Investment in subsidiary | 216,224 | — | — | (216,224 | ) | — | |||||||||||||||
Total assets | $ | 4,078,592 | $ | 92,486 | 184,571 | $ | (227,758 | ) | $ | 4,127,891 | |||||||||||
Liabilities and member’s equity | |||||||||||||||||||||
Current liabilities | |||||||||||||||||||||
Current portion of long-term debt | $ | 16,200 | $ | — | $ | — | $ | — | $ | 16,200 | |||||||||||
Accounts payable | 30,319 | 1,536 | 1,622 | — | 33,477 | ||||||||||||||||
Accrued liabilities | 103,780 | 5,376 | 6,776 | — | 115,932 | ||||||||||||||||
Accrued interest | 55,048 | — | — | — | 55,048 | ||||||||||||||||
Capital lease obligations, current | 1,493 | 5,107 | — | — | 6,600 | ||||||||||||||||
Due to related parties | 25 | — | 1,082 | (1,107 | ) | — | |||||||||||||||
Deferred revenue, current | 33,170 | 701 | 2,106 | — | 35,977 | ||||||||||||||||
Total current liabilities | 240,035 | 12,720 | 11,586 | (1,107 | ) | 263,234 | |||||||||||||||
Long-term debt, non-current | 2,814,505 | — | — | — | 2,814,505 | ||||||||||||||||
Related party debt, long-term | — | — | 10,427 | (10,427 | ) | — | |||||||||||||||
Capital lease obligations, non-current | 6,487 | 80 | — | — | 6,567 | ||||||||||||||||
Deferred revenue, non-current | 318,188 | 3,850 | 4,142 | — | 326,180 | ||||||||||||||||
Stock-based compensation liability | 154,435 | 2,794 | 1,291 | — | 158,520 | ||||||||||||||||
Deferred income taxes, net | — | — | 5,560 | — | 5,560 | ||||||||||||||||
Other long-term liabilities | 11,511 | 8,311 | 70 | — | 19,892 | ||||||||||||||||
Total liabilities | 3,545,161 | 27,755 | 33,076 | (11,534 | ) | 3,594,458 | |||||||||||||||
Member’s equity | |||||||||||||||||||||
Member’s interest | 736,439 | 33,748 | 150,000 | (216,224 | ) | 703,963 | |||||||||||||||
Accumulated other comprehensive income | — | — | (4,755 | ) | — | (4,755 | ) | ||||||||||||||
(Accumulated deficit)/retained earnings | (203,008 | ) | 30,983 | 6,250 | — | (165,775 | ) | ||||||||||||||
Total member’s equity | 533,431 | 64,731 | 151,495 | (216,224 | ) | 533,433 | |||||||||||||||
Total liabilities and member’s equity | $ | 4,078,592 | $ | 92,486 | 184,571 | $ | (227,758 | ) | $ | 4,127,891 | |||||||||||
Schedule of Condensed Consolidating Statements of Operations | ' | ||||||||||||||||||||
Condensed Consolidating Statement of Operations | |||||||||||||||||||||
For the Year Ended June 30, 2014 | |||||||||||||||||||||
Zayo Group, | Guarantor | Non- | Eliminations | Total | |||||||||||||||||
LLC | Subsidiaries | Guarantor | |||||||||||||||||||
Subsidiaries | |||||||||||||||||||||
(Issuer) | |||||||||||||||||||||
Revenue | $ | 961,201 | $ | 75,299 | $ | 70,410 | $ | — | $ | 1,106,910 | |||||||||||
Operating costs and expenses | |||||||||||||||||||||
Operating costs, excluding depreciation and amortization | 110,601 | 23,219 | 7,705 | — | 141,525 | ||||||||||||||||
Selling, general and administrative expenses, excluding stock-based compensation | 273,171 | 15,699 | 28,995 | — | 317,865 | ||||||||||||||||
Stock-based compensation | 214,045 | 15,161 | 24,155 | — | 253,361 | ||||||||||||||||
Selling, general and administrative expenses | 487,216 | 30,860 | 53,150 | — | 571,226 | ||||||||||||||||
Depreciation and amortization | 307,636 | 11,934 | 16,837 | — | 336,407 | ||||||||||||||||
Total operating costs and expenses | 905,453 | 66,013 | 77,692 | — | 1,049,158 | ||||||||||||||||
Operating income | 55,748 | 9,286 | (7,282 | ) | — | 57,752 | |||||||||||||||
Other expense | |||||||||||||||||||||
Interest expense | (200,479 | ) | (583 | ) | (2,446 | ) | — | (203,508 | ) | ||||||||||||
Loss on extinguishment of debt | (1,911 | ) | — | — | — | (1,911 | ) | ||||||||||||||
Other income, net | 3,860 | (20 | ) | 1,199 | — | 5,039 | |||||||||||||||
Equity in net earnings of subsidiaries | (2,568 | ) | — | — | 2,568 | — | |||||||||||||||
Total other expense, net | (201,098 | ) | (603 | ) | (1,247 | ) | 2,568 | (200,380 | ) | ||||||||||||
(Loss)/earnings before provision for income taxes | (145,350 | ) | 8,683 | (8,529 | ) | 2,568 | (142,628 | ) | |||||||||||||
(Benefit)/provision for income taxes | 35,127 | — | 2,722 | — | 37,849 | ||||||||||||||||
(Loss)/earnings from continuing operations | (180,477 | ) | 8,683 | (11,251 | ) | 2,568 | (180,477 | ) | |||||||||||||
Net (loss)/earnings | $ | (180,477 | ) | $ | 8,683 | $ | (11,251 | ) | $ | 2,568 | $ | (180,477 | ) | ||||||||
Condensed Consolidating Statement of Operations | |||||||||||||||||||||
For the Year Ended June 30, 2013 | |||||||||||||||||||||
Zayo Group, | Guarantor | Non- | Eliminations | Total | |||||||||||||||||
LLC | Subsidiaries | Guarantor | |||||||||||||||||||
Subsidiaries | |||||||||||||||||||||
(Issuer) | |||||||||||||||||||||
Revenue | $ | 876,443 | $ | 62,469 | $ | 57,852 | $ | (8,679 | ) | $ | 988,085 | ||||||||||
Operating costs and expenses | |||||||||||||||||||||
Operating costs, excluding depreciation and amortization | 107,480 | 30,389 | 7,405 | (8,679 | ) | 136,595 | |||||||||||||||
Selling, general and administrative expenses, excluding stock-based compensation | 275,558 | 11,560 | 25,864 | — | 312,982 | ||||||||||||||||
Stock-based compensation | 102,145 | 1,569 | 1,334 | — | 105,048 | ||||||||||||||||
Selling, general and administrative expenses | 377,703 | 13,129 | 27,198 | — | 418,030 | ||||||||||||||||
Depreciation and amortization | 301,392 | 7,970 | 13,318 | — | 322,680 | ||||||||||||||||
Total operating costs and expenses | 786,575 | 51,488 | 47,921 | (8,679 | ) | 877,305 | |||||||||||||||
Operating income | 89,868 | 10,981 | 9,931 | — | 110,780 | ||||||||||||||||
Other expense | |||||||||||||||||||||
Interest expense | (201,964 | ) | (87 | ) | (413 | ) | — | (202,464 | ) | ||||||||||||
Loss on extinguishment of debt | (77,253 | ) | — | — | — | (77,253 | ) | ||||||||||||||
Other income, net | 257 | 4 | 65 | — | 326 | ||||||||||||||||
Equity in net earnings of subsidiaries | 15,816 | — | — | (15,816 | ) | — | |||||||||||||||
Total other expense, net | (263,144 | ) | (83 | ) | (348 | ) | (15,816 | ) | (279,391 | ) | |||||||||||
Earnings/(loss) before provision for income taxes | (173,276 | ) | 10,898 | 9,583 | (15,816 | ) | (168,611 | ) | |||||||||||||
Provision for income taxes | (28,711 | ) | — | 4,665 | — | (24,046 | ) | ||||||||||||||
(Loss)/earnings from continuing operations | (144,565 | ) | 10,898 | 4,918 | (15,816 | ) | (144,565 | ) | |||||||||||||
Earnings from discontinued operations, net of income taxes | 1,808 | — | — | — | 1,808 | ||||||||||||||||
Net (loss)/earnings | $ | (142,757 | ) | $ | 10,898 | $ | 4,918 | $ | (15,816 | ) | $ | (142,757 | ) | ||||||||
Condensed Consolidating Statement of Operations | |||||||||||||||||||||
For the Year Ended June 30, 2012 | |||||||||||||||||||||
Zayo Group, | Guarantor | Non- | Eliminations | Total | |||||||||||||||||
LLC | Subsidiaries | Guarantor | |||||||||||||||||||
Subsidiaries | |||||||||||||||||||||
(Issuer) | |||||||||||||||||||||
Revenue | $ | 342,990 | $ | 43,251 | $ | — | $ | (4,198 | ) | $ | 382,043 | ||||||||||
Operating costs and expenses | |||||||||||||||||||||
Operating costs, excluding depreciation and amortization | 63,564 | 19,024 | — | (7 | ) | 82,581 | |||||||||||||||
Selling, general and administrative expenses, excluding stock-based compensation | 104,497 | 7,198 | — | — | 111,695 | ||||||||||||||||
Stock-based compensation | 24,934 | 1,319 | — | — | 26,253 | ||||||||||||||||
Selling, general and administrative expenses | 129,431 | 8,517 | — | — | 137,948 | ||||||||||||||||
Depreciation and amortization | 78,882 | 6,079 | — | — | 84,961 | ||||||||||||||||
Total operating costs and expenses | 271,877 | 33,620 | — | (7 | ) | 305,490 | |||||||||||||||
Operating income | 71,113 | 9,631 | — | (4,191 | ) | 76,553 | |||||||||||||||
Other expense | |||||||||||||||||||||
Interest expense | (50,507 | ) | (213 | ) | — | — | (50,720 | ) | |||||||||||||
Impairment on cost method recovery | (2,248 | ) | — | — | — | (2,248 | ) | ||||||||||||||
Other income, net | 123 | — | — | — | 123 | ||||||||||||||||
Equity in net earnings of subsidiaries | 1,040 | — | — | (1,040 | ) | — | |||||||||||||||
Total other expense, net | (51,592 | ) | (213 | ) | — | (1,040 | ) | (52,845 | ) | ||||||||||||
Earnings/(loss) before provision for income taxes | 19,521 | 9,418 | — | (5,231 | ) | 23,708 | |||||||||||||||
Provision for income taxes | 25,370 | 4,187 | — | — | 29,557 | ||||||||||||||||
(Loss)/earnings from continuing operations | (5,849 | ) | 5,231 | — | (5,231 | ) | (5,849 | ) | |||||||||||||
Net (loss)/earnings | $ | (5,849 | ) | $ | 5,231 | $ | — | $ | (5,231 | ) | $ | (5,849 | ) | ||||||||
Schedule of Condensed Consolidating Statements of Cash Flows | ' | ||||||||||||||||||||
Condensed Consolidating Statement of Cash Flows | |||||||||||||||||||||
June 30, 2014 | |||||||||||||||||||||
Zayo Group, | Guarantor | Non- | Total | ||||||||||||||||||
LLC | Subsidiaries | Guarantor | |||||||||||||||||||
Subsidiaries | |||||||||||||||||||||
Net cash provided by operating activities | $ | 489,909 | $ | 37,064 | $ | 33,324 | $ | 560,297 | |||||||||||||
Cash flows from investing activities | |||||||||||||||||||||
Purchases of property and equipment, net of stimulus growth | (316,521 | ) | (28,196 | ) | (16,040 | ) | (360,757 | ) | |||||||||||||
Acquisitions, net of cash acquired | (83,205 | ) | (17,804 | ) | (292,332 | ) | (393,341 | ) | |||||||||||||
Net cash (used in)/provided by investing activities | (399,726 | ) | (46,000 | ) | (308,372 | ) | (754,098 | ) | |||||||||||||
Cash flows from financing activities | |||||||||||||||||||||
Equity contributions | 5,605 | — | — | 5,605 | |||||||||||||||||
Dividends received/(paid) | (69,722 | ) | 14,709 | 55,013 | — | ||||||||||||||||
Distribution to Parent | (1,203 | ) | — | — | (1,203 | ) | |||||||||||||||
Proceeds from long-term debt | 423,625 | — | — | 423,625 | |||||||||||||||||
Proceeds from revolving credit facility | 195,000 | — | — | 195,000 | |||||||||||||||||
Principal repayments on long-term debt | (18,013 | ) | — | — | (18,013 | ) | |||||||||||||||
Payments on revolving credit facility | (195,000 | ) | — | — | (195,000 | ) | |||||||||||||||
(Payment of)/receipt from intercompany loan | (251,049 | ) | — | 251,049 | — | ||||||||||||||||
Principal repayments on capital lease obligations | (2,105 | ) | (5,769 | ) | — | (7,874 | ) | ||||||||||||||
Deferred financing costs | (4,891 | ) | — | — | (4,891 | ) | |||||||||||||||
Net cash provided/(used) by financing activities | 82,247 | 8,940 | 306,062 | 397,249 | |||||||||||||||||
Effect of changes in foreign exchange rates on cash | — | — | 1,018 | 1,018 | |||||||||||||||||
Net increase/(decrease) in cash and cash equivalents | 172,430 | 4 | 32,032 | 204,466 | |||||||||||||||||
Cash and cash equivalents, beginning of period | 83,608 | 1,009 | 3,531 | 88,148 | |||||||||||||||||
Cash and cash equivalents, end of period | $ | 256,038 | $ | 1,013 | $ | 35,563 | $ | 292,614 | |||||||||||||
Condensed Consolidating Statement of Cash Flows | |||||||||||||||||||||
June 30, 2013 | |||||||||||||||||||||
Zayo Group, | Guarantor | Non- | Total | ||||||||||||||||||
LLC | Subsidiaries | Guarantor | |||||||||||||||||||
Subsidiaries | |||||||||||||||||||||
Net cash provided by operating activities | $ | 352,312 | $ | 27,427 | $ | 13,582 | $ | 393,321 | |||||||||||||
Cash flows from investing activities | |||||||||||||||||||||
Purchases of property and equipment, net of stimulus grants | (299,692 | ) | (14,122 | ) | (9,387 | ) | (323,201 | ) | |||||||||||||
Acquisitions, net of cash acquired | (2,491,450 | ) | 421 | 7,892 | (2,483,137 | ) | |||||||||||||||
Proceeds from principal payments received on related party loans | 10,396 | — | — | 10,396 | |||||||||||||||||
Net cash used in investing activities | (2,780,746 | ) | (13,701 | ) | (1,495 | ) | (2,795,942 | ) | |||||||||||||
Cash flows from financing activities | |||||||||||||||||||||
Equity contributions | 345,013 | — | — | 345,013 | |||||||||||||||||
Dividend received/(paid) | 18,600 | (18,600 | ) | — | — | ||||||||||||||||
Proceeds from long-term debt | 3,184,452 | 4,887 | — | 3,189,339 | |||||||||||||||||
Principal repayments on long-term debt | (1,058,577 | ) | — | — | (1,058,577 | ) | |||||||||||||||
Receipt from/(payment of) intercompany loan | 8,253 | — | (8,253 | ) | — | ||||||||||||||||
Early redemption fees on debt extinguishment | (72,117 | ) | — | — | (72,117 | ) | |||||||||||||||
Changes in restricted cash | 22,666 | — | — | 22,666 | |||||||||||||||||
Principal repayments on capital lease obligations | (1,808 | ) | (123 | ) | — | (1,931 | ) | ||||||||||||||
Cash contributed to ZPS | (7,218 | ) | — | — | (7,218 | ) | |||||||||||||||
Deferred financing costs | (83,134 | ) | — | — | (83,134 | ) | |||||||||||||||
Net cash provided by/(used in) financing activities | 2,356,130 | (13,836 | ) | (8,253 | ) | 2,334,041 | |||||||||||||||
Cash flows from discontinued operations | |||||||||||||||||||||
Cash flows from discontinued operations | 6,338 | — | — | 6,338 | |||||||||||||||||
Effect of changes in foreign exchange rates on cash | — | — | (303 | ) | (303 | ) | |||||||||||||||
Net (decrease)/increase in cash and cash equivalents | (65,966 | ) | (110 | ) | 3,531 | (62,545 | ) | ||||||||||||||
Cash and cash equivalents, beginning of period | 149,574 | 1,119 | — | 150,693 | |||||||||||||||||
Cash and cash equivalents, end of period | $ | 83,608 | $ | 1,009 | $ | 3,531 | $ | 88,148 | |||||||||||||
Condensed Consolidating Statement of Cash Flows | |||||||||||||||||||||
June 30, 2012 | |||||||||||||||||||||
Zayo Group, | Guarantor | Non- | Total | ||||||||||||||||||
LLC | Subsidiaries | Guarantor | |||||||||||||||||||
Subsidiaries | |||||||||||||||||||||
Net cash provided by operating activities | $ | 151,090 | $ | 16,540 | $ | — | $ | 167,630 | |||||||||||||
Cash flows from investing activities | |||||||||||||||||||||
Purchases of property and equipment, net of stimulus grants | (116,685 | ) | (7,452 | ) | — | (124,137 | ) | ||||||||||||||
Proceeds from sale of property and equipment | (351,273 | ) | — | — | (351,273 | ) | |||||||||||||||
Net cash used in investing activities | (467,958 | ) | (7,452 | ) | — | (475,410 | ) | ||||||||||||||
Cash flows from financing activities | |||||||||||||||||||||
Equity contributions | 134,796 | — | — | 134,796 | |||||||||||||||||
Dividend received/(paid) | 10,257 | (10,257 | ) | — | — | ||||||||||||||||
Proceeds from borrowings | 335,550 | — | — | 335,550 | |||||||||||||||||
Principal repayments on long-term debt | (1,575 | ) | — | — | (1,575 | ) | |||||||||||||||
Changes in restricted cash | (22,820 | ) | — | — | (22,820 | ) | |||||||||||||||
Principal repayments on capital lease obligations | (1,050 | ) | (121 | ) | — | (1,171 | ) | ||||||||||||||
Deferred financing costs | (11,701 | ) | — | — | (11,701 | ) | |||||||||||||||
Net cash provided by/(used in) financing activities | 443,457 | (10,378 | ) | — | 433,079 | ||||||||||||||||
Net increase/(decrease) in cash and cash equivalents | 126,589 | (1,290 | ) | — | 125,299 | ||||||||||||||||
Cash and cash equivalents, beginning of period | 22,985 | 2,409 | — | 25,394 | |||||||||||||||||
Cash and cash equivalents, end of period | $ | 149,574 | $ | 1,119 | $ | — | $ | 150,693 | |||||||||||||
Quarterly_Financial_Data_Unaud1
Quarterly Financial Data (Unaudited) (Tables) | 12 Months Ended | ||||||||||||||||||||
Jun. 30, 2014 | |||||||||||||||||||||
Quarterly Financial Data [Abstract] | ' | ||||||||||||||||||||
Schedule of Quarterly Results | ' | ||||||||||||||||||||
The following table presents the unaudited quarterly results for the year ended June 30, 2014: | |||||||||||||||||||||
2014 Quarter Ended (1) | |||||||||||||||||||||
September 30 (1) | December 31 (2) (3) | March 31 (4) | June 30 (5) | Total | |||||||||||||||||
Revenue | $ | 264,345 | $ | 273,599 | $ | 278,038 | $ | 290,928 | $ | 1,106,910 | |||||||||||
Operating costs and expenses | |||||||||||||||||||||
Operating costs, excluding depreciation and amortization | 34,917 | 35,027 | 35,358 | 36,223 | 141,525 | ||||||||||||||||
Selling, general and administrative expenses, excluding stock-based compensation | 74,732 | 77,538 | 77,734 | 87,861 | -7 | 317,865 | |||||||||||||||
Stock-based compensation | 42,684 | 56,686 | 64,964 | 89,027 | 253,361 | ||||||||||||||||
Selling, general and administrative expenses | 117,416 | 134,224 | 142,698 | 176,888 | 571,226 | ||||||||||||||||
Depreciation and amortization | 80,575 | 81,257 | 83,703 | 90,872 | 336,407 | ||||||||||||||||
Total operating costs and expenses | 232,908 | 250,508 | 261,759 | 303,983 | 1,049,158 | ||||||||||||||||
Operating income | 31,437 | 23,091 | 16,279 | (13,055 | ) | 57,752 | |||||||||||||||
Other expenses | |||||||||||||||||||||
Interest expense (6) | (51,497 | ) | (50,277 | ) | (49,131 | ) | (52,603 | ) | (203,508 | ) | |||||||||||
Loss on extinguishment of debt (7) | — | (1,911 | ) | — | — | (1,911 | ) | ||||||||||||||
Other income/(expense), net | 662 | 479 | 125 | 3,773 | 5,039 | ||||||||||||||||
Total other expenses, net | (50,835 | ) | (51,709 | ) | (49,006 | ) | (48,830 | ) | (200,380 | ) | |||||||||||
(Loss)/earnings from continuing operations before income taxes | (19,398 | ) | (28,618 | ) | (32,727 | ) | (61,885 | ) | (142,628 | ) | |||||||||||
(Benefit)/provision for income taxes | 8,534 | 7,697 | 11,327 | 10,291 | 37,849 | ||||||||||||||||
Loss/(earnings) from continuing operations | (27,932 | ) | (36,315 | ) | (44,054 | ) | (72,176 | ) | (180,477 | ) | |||||||||||
Earnings from discontinued operations, net of income taxes (10) | — | — | — | — | — | ||||||||||||||||
Net (loss)/earnings | $ | (27,932 | ) | $ | (36,315 | ) | $ | (44,054 | ) | $ | (72,176 | ) | $ | (180,477 | ) | ||||||
-1 | The Company realized an increase in revenue and operating expenses beginning August 1, 2013 as a result of the acquisition of Corelink. | ||||||||||||||||||||
-2 | The Company realized an increase in revenue and operating expenses beginning October 1, 2013 as a result of the acquisition of Access. | ||||||||||||||||||||
-3 | The Company realized an increase in revenue and operating expenses beginning October 1, 2013 as a result of the acquisition of Fiberlink. | ||||||||||||||||||||
-4 | The Company realized an increase in revenue and operating expenses beginning March 4, 2014 as a result of the acquisition of CoreXchange. | ||||||||||||||||||||
-5 | The Company realized an increase in revenue and operating expenses beginning May 16, 2014 as a result of the acquisition of Geo. | ||||||||||||||||||||
-6 | The Company realized an increase in interest expense during the second and fourth quarters of 2014 due to financing transactions completed to increase its borrowings under its term loan facility. See Note 9—Long-Term Debt. | ||||||||||||||||||||
-7 | The Company completed a debt refinancing transaction during the second quarter of Fiscal 2014, resulting in a loss on debt extinguishment for that respective period. See Note 9—Long-Term Debt. | ||||||||||||||||||||
The following table presents the unaudited quarterly results for the year ended June 30, 2013: | |||||||||||||||||||||
2013 Quarter Ended (1) | |||||||||||||||||||||
September 30 (2) | December 31 (3) (4) | March 31 (5) | June 30 (6) | Total | |||||||||||||||||
Revenue | $ | 231,502 | $ | 245,265 | $ | 253,148 | $ | 258,170 | $ | 988,085 | |||||||||||
Operating costs and expenses | |||||||||||||||||||||
Operating costs, excluding depreciation and amortization | 32,717 | 34,888 | 35,130 | 33,860 | 136,595 | ||||||||||||||||
Selling, general and administrative expenses, excluding stock-based compensation | 85,792 | 73,027 | 70,419 | 83,744 | -7 | 312,982 | |||||||||||||||
Stock-based compensation | 10,481 | 33,445 | 23,453 | 37,669 | 105,048 | ||||||||||||||||
Selling, general and administrative expenses | 96,273 | 106,472 | 93,872 | 121,413 | 418,030 | ||||||||||||||||
Depreciation and amortization | 79,549 | 83,467 | 79,473 | 80,191 | 322,680 | ||||||||||||||||
Total operating costs and expenses | 208,539 | 224,827 | 208,475 | 235,464 | 877,305 | ||||||||||||||||
Operating income | 22,963 | 20,438 | 44,673 | 22,706 | 110,780 | ||||||||||||||||
Other expenses | |||||||||||||||||||||
Interest expense (8) | (62,555 | ) | (52,635 | ) | (49,618 | ) | (37,656 | ) | (202,464 | ) | |||||||||||
Loss on extinguishment of debt (9) | (64,975 | ) | (5,707 | ) | (6,571 | ) | — | (77,253 | ) | ||||||||||||
Other income/(expense), net | 585 | 224 | (508 | ) | 25 | 326 | |||||||||||||||
Total other expenses, net | (126,945 | ) | (58,118 | ) | (56,697 | ) | (37,631 | ) | (279,391 | ) | |||||||||||
(Loss)/earnings from continuing operations before income taxes | (103,982 | ) | (37,680 | ) | (12,024 | ) | (14,925 | ) | (168,611 | ) | |||||||||||
(Benefit)/provision for income taxes | (36,588 | ) | (3,438 | ) | 6,519 | 9,461 | (24,046 | ) | |||||||||||||
Loss/(earnings) from continuing operations | (67,394 | ) | (34,242 | ) | (18,543 | ) | (24,386 | ) | (144,565 | ) | |||||||||||
Earnings from discontinued operations, net of income taxes (10) | 1,808 | — | — | — | 1,808 | ||||||||||||||||
Net (loss)/earnings | $ | (65,586 | ) | $ | (34,242 | ) | $ | (18,543 | ) | $ | (24,386 | ) | $ | (142,757 | ) | ||||||
-1 | Revenue and depreciation and amortization expense recognized during interim periods of Fiscal 2013 have been retrospectively stated for material adjustments in the valuation of deferred revenue, property, plant and equipment, and intangible assets recorded in connection with the finalization of AboveNet purchase accounting during the quarter ended June 30, 2013. See Note 3 - Acquisitions - Adjustments to Purchase Accounting Estimates Associated with Current Year Acquisitions. | ||||||||||||||||||||
-2 | The Company realized an increase in revenue and operating expenses beginning August 31, 2012 as a result of the acquisition of FiberGate. | ||||||||||||||||||||
-3 | The Company realized an increase in revenue and operating expenses beginning October 1, 2012 as a result of the acquisition of USCarrier. | ||||||||||||||||||||
(4) The Company realized an increase in revenue and operating expenses beginning December 14, 2012 as a result of the acquisition of First Telecom. | |||||||||||||||||||||
(5) The Company realized an increase in revenue and operating expenses beginning December 31, 2012 as a result of the acquisition of Litecast. | |||||||||||||||||||||
(6) The Company realized an increase in revenue and operating expenses beginning June 1, 2013 as a result of the acquisition of Core NAP. | |||||||||||||||||||||
-7 | During the quarter ended June 30, 2013, the Company recognized a charge of $10,197 for lease termination costs related to exit activities initiated for unutilized space associated with leased office and technical facilities – see Note 15 – Commitments and Contingencies. | ||||||||||||||||||||
(8) The Company realized a decrease in interest expense during the second and third quarters of 2013 due to financing transactions completed to lower its interest rates on its variable rate debt. During the fourth quarter of 2013, favorable movements in interest rates increased the fair value of the Company's interest rate swaps, resulting in a decrease in the Company's interest expense - see Note 9 - Long-Term Debt. | |||||||||||||||||||||
-9 | The Company completed debt refinancing transactions during the first, second and third quarters of Fiscal 2013, resulting in a loss on debt extinguishment in each respective period. See Note 9 - Long-Term Debt. | ||||||||||||||||||||
-10 | The Company spun-off its ZPS operating unit on September 30, 2012 - see Note 4 - Spin-Off of Business. |
Basis_of_Presentation_and_Sign2
Basis of Presentation and Significant Accounting Policies (Narrative) (Details) (USD $) | 12 Months Ended | ||||||||||||||||||||
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012 | Jun. 30, 2014 | Jun. 30, 2012 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2010 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | |
Minimum [Member] | Maximum [Member] | Period Before Start [Member] | Zayo Professional Services [Member] | Customer Concentration Risk [Member] | Customer Concentration Risk [Member] | Customer Concentration Risk [Member] | Total Revenue [Member] | Total Revenue [Member] | Accounts Receivable [Member] | Accounts Receivable [Member] | Trade Receivables [Member] | Trade Receivables [Member] | Credit Concentration Risk [Member] | Credit Concentration Risk [Member] | Customer relationships [Member] | Customer relationships [Member] | Customer relationships [Member] | ||||
Customer Concentration Risk [Member] | Customer Concentration Risk [Member] | Customer Concentration Risk [Member] | Customer Concentration Risk [Member] | Customer Concentration Risk [Member] | Customer Concentration Risk [Member] | Minimum [Member] | Maximum [Member] | ||||||||||||||
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Non-current restricted cash | $5,065,000 | $5,533,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Impairment of property, plant and equipment | 0 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Impairment of goodwill and intangibles | $0 | $0 | $0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Date of Business Spin-Off | ' | ' | ' | ' | ' | ' | 30-Sep-12 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Customer relationship estimated life | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '16 years 3 months 26 days | '10 years | '20 years |
Major customer concentration | ' | ' | ' | ' | ' | ' | ' | 0.00% | 12.00% | 12.00% | 10.00% | 12.00% | 12.00% | 10.00% | 0.00% | 0.00% | 0.00% | 0.00% | ' | ' | ' |
Vesting period | '3 years | ' | ' | '3 years | '4 years | '1 year | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Acquisitions_Narrative_Details
Acquisitions (Narrative) (Details) (USD $) | 12 Months Ended | 86 Months Ended | 12 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 0 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 6 Months Ended | 12 Months Ended | 6 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 3 Months Ended | 12 Months Ended | 0 Months Ended | 6 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012 | Jun. 30, 2014 | 16-May-14 | Jun. 30, 2014 | Jun. 30, 2014 | Dec. 02, 2011 | Jun. 30, 2014 | Jun. 30, 2014 | Jul. 02, 2012 | Aug. 01, 2013 | Oct. 02, 2013 | Aug. 13, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012 | Oct. 01, 2013 | Jun. 30, 2014 | Oct. 02, 2013 | Oct. 02, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012 | Jun. 30, 2014 | Jul. 02, 2012 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012 | Jun. 30, 2014 | Jun. 30, 2014 | Aug. 31, 2012 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012 | Jun. 30, 2014 | Mar. 04, 2014 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012 | Jun. 30, 2014 | 16-May-14 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012 | Jun. 30, 2014 | Jul. 02, 2014 | Jul. 01, 2014 | Jul. 02, 2014 | Jul. 01, 2014 | Oct. 02, 2012 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012 | Jun. 30, 2014 | Jun. 30, 2012 | Jun. 30, 2012 | Mar. 04, 2014 | Dec. 14, 2012 | Dec. 31, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012 | Dec. 31, 2013 | Jun. 30, 2014 | Dec. 31, 2012 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012 | Jun. 30, 2014 | 31-May-13 | Jun. 30, 2013 | Jun. 30, 2012 | Jun. 30, 2014 | Jun. 30, 2014 | 1-May-12 | Sep. 30, 2012 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012 | Jun. 30, 2013 | Dec. 02, 2011 | Dec. 31, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012 | Jun. 30, 2013 | Jun. 30, 2013 | Dec. 31, 2011 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2013 | Jun. 30, 2013 | 16-May-14 | Jul. 02, 2014 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2012 | Jun. 30, 2014 | Jun. 30, 2013 | Dec. 31, 2013 | |
Customer relationships [Member] | Tradenames [Member] | Original Term Loan Facility [Member] | Minimum [Member] | Maximum [Member] | Senior Secured Revolving Credit Facility [Member] | Colocation Acquisition [Member] | Access [Member] | Access [Member] | Access [Member] | Access [Member] | Access [Member] | Access [Member] | Access [Member] | Fiberlink, LLC [Member] | Fiberlink [Member] | Fiberlink [Member] | Fiberlink [Member] | Fiberlink [Member] | Fiberlink [Member] | AboveNet [Member] | AboveNet [Member] | AboveNet [Member] | AboveNet [Member] | AboveNet [Member] | AboveNet [Member] | FiberGate [Member] | FiberGate [Member] | FiberGate [Member] | FiberGate [Member] | FiberGate [Member] | CoreXchange [Member] | CoreXchange [Member] | CoreXchange [Member] | CoreXchange [Member] | CoreXchange [Member] | Geo [Member] | Geo [Member] | Geo [Member] | Geo [Member] | Geo [Member] | Neo Telecoms [Member] | Neo Telecoms [Member] | AtlantaNAP [Member] | AtlantaNAP [Member] | USCarrier [Member] | USCarrier [Member] | USCarrier [Member] | USCarrier [Member] | USCarrier [Member] | USCarrier [Member] | USCarrier [Member] | First Telecom [Member] | First Telecom [Member] | First Telecom [Member] | First Telecom [Member] | First Telecom [Member] | First Telecom [Member] | First Telecom [Member] | First Telecom [Member] | Litecast [Member] | Litecast [Member] | Litecast [Member] | Litecast [Member] | Litecast [Member] | Core NAP [Member] | Core NAP [Member] | Core NAP [Member] | Core NAP [Member] | Arialink and 360 Networks [Member] | Arialink [Member] | Arialink [Member] | Arialink [Member] | Arialink [Member] | Arialink [Member] | Arialink [Member] | 360networks [Member] | 360networks [Member] | 360networks [Member] | 360networks [Member] | 360networks [Member] | 360networks [Member] | 360networks [Member] | MarquisNet [Member] | MarquisNet [Member] | MarquisNet [Member] | MarquisNet [Member] | MarquisNet [Member] | MarquisNet [Member] | American Fiber Systems Holding Corporation [Member] | AGL Networks, LLC [Member] | United Kingdom, Pounds | Euro Member Countries, Euro | Customer Concentration Risk [Member] | Customer Concentration Risk [Member] | Customer Concentration Risk [Member] | Trade Accounts Receivable [Member] | Trade Accounts Receivable [Member] | Sales Revenue, Net [Member] | Sales Revenue, Net [Member] | Accounts Receivable [Member] | Accounts Receivable [Member] | Onvoy Voice Services Inc [Member] | ||||||
Customer relationships [Member] | Customer relationships [Member] | Customer relationships [Member] | Customer relationships [Member] | Customer relationships [Member] | Tradenames [Member] | Customer relationships [Member] | Customer relationships [Member] | Customer relationships [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Customer relationships [Member] | Class A [Member] | Class B [Member] | Customer relationships [Member] | Customer relationships [Member] | Customer relationships [Member] | Customer relationships [Member] | Customer relationships [Member] | Customer relationships [Member] | Customer relationships [Member] | Tradenames [Member] | Customer relationships [Member] | Customer relationships [Member] | Customer relationships [Member] | Customer relationships [Member] | Geo [Member] | Neo Telecoms [Member] | Customer Concentration Risk [Member] | Customer Concentration Risk [Member] | Customer Concentration Risk [Member] | Customer Concentration Risk [Member] | Customer Concentration Risk [Member] | Customer Concentration Risk [Member] | 360networks [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subsequent Event [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Property Plant and Equipment Purchase Accounting Adjustments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $26,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Finite-Lived Intangible Assets, Purchase Accounting Adjustments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 18,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Deferred Revenue Purchase Accounting Adjustments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 18,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Concentration Risk, Percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.00% | 12.00% | 12.00% | 0.00% | 0.00% | 10.00% | 12.00% | 12.00% | 10.00% | ' |
Number of business combinations completed | 5 | ' | ' | 32 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net | 394,929,000 | ' | ' | 394,929,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Acquisition date | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1-Oct-12 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1-May-12 | ' | ' | ' | ' | ' | 1-Dec-11 | ' | ' | ' | ' | ' | ' | 31-Dec-11 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Acquisition, Percentage of Voting Interests Acquired | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100.00% | ' | ' | ' | ' | ' | ' | 100.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100.00% | ' | ' | ' | ' | 100.00% | ' | ' | ' | ' | 4.00% | 96.00% | ' | 100.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Acquisition agreement date | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 15-Aug-12 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Ownership interest | ' | ' | 100.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100.00% | ' | ' | ' | ' | ' | 100.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 55.00% | 34.00% | ' | ' | ' | ' | 100.00% | ' | ' | ' | ' | ' | 100.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash paid for acquisitions, net of cash acquired | 393,341,000 | 2,483,137,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 251,000 | 40,068,000 | ' | 40,068,000 | 0 | 0 | ' | ' | ' | 43,137,000 | 43,137,000 | 0 | 0 | ' | 2,212,492,000 | 0 | 2,212,492,000 | 0 | ' | ' | 118,335,000 | 0 | 118,335,000 | 0 | ' | 17,503,000 | 17,503,000 | 0 | 0 | ' | 292,332,000 | 292,332,000 | 0 | 0 | ' | 78,000 | ' | 52,500,000 | ' | 16,092,000 | 0 | 16,092,000 | 0 | ' | ' | ' | 17,503,000 | 109,700,000 | ' | 0 | 109,700,000 | 0 | ' | ' | 22,160,000 | 0 | 22,160,000 | 0 | ' | 7,080,000 | 7,030,000 | 0 | ' | ' | 17,129,000 | ' | 0 | 0 | 17,926,000 | ' | 317,891,000 | ' | 0 | 0 | 317,891,000 | ' | ' | 13,581,000 | 0 | 0 | 15,456,000 | ' | ' | ' | ' | 174,308,000 | 57,156,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Notes Payable | ' | ' | ' | ' | 113,376,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Notes Payable, Related Parties | ' | ' | ' | ' | 69,124,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share price | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $84,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair value of assets distributed in spin-off | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,752,000 | ' | ' | ' | 1,752,000 | ' | 11,700,000 | ' | ' | ' | 11,700,000 | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash distributed in spin-off | 0 | 7,218,000 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Purchase price, held in escrow | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 17,550,000 | ' | ' | 1,775,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8,710,000 | ' | 5,250,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,000 |
Business Acquisition, Cost Of Acquired Entity, Portion Of Purchase Price Held In Escrow Allocated To Selling General And Administrative Expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Acquisition purchase price, gross | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 344,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 797,000 | ' | ' | 17,129,000 | ' | ' | ' | ' | ' | 345,000,000 | ' | ' | ' | ' | ' | 15,875,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Working capital deficit assumed | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 26,400,000 | ' | ' | ' | ' | ' | 419,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash acquired | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,162,000 | ' | ' | 1,000 | ' | ' | ' | ' | 139,137,000 | ' | ' | ' | ' | ' | 2,278,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 13,739,000 | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' | ' | ' | 0 | 0 | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' | 0 | ' | ' | ' | ' | 74,000 | ' | ' | ' | ' | ' | 709,000 | ' | ' | ' | 709,000 | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash received from escrow | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from the issuance of the Company's note | 100,000,000 | ' | ' | 100,000,000 | ' | ' | ' | 315,000,000 | ' | ' | 250,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Aggregate purchase price | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 41,230,000 | ' | ' | 43,138,000 | ' | ' | ' | ' | 2,327,711,000 | ' | ' | ' | ' | ' | 120,613,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 306,071,000 | ' | ' | ' | ' | ' | ' | ' | ' | 28,919,000 | ' | ' | ' | ' | ' | ' | 17,503,000 | 109,700,000 | ' | ' | ' | ' | ' | ' | 22,160,000 | ' | ' | ' | ' | 7,080,000 | ' | ' | ' | ' | 15,451,000 | ' | ' | ' | ' | ' | 306,900,000 | ' | ' | ' | ' | ' | ' | 13,581,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Estimated useful life of acquired intangible assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '20 years | '2 years | ' | ' | ' | ' | '20 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '20 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | '14 years | ' | ' | ' | ' | '20 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '20 years | ' | ' | ' | ' | ' | '20 years | '1 year | ' | ' | ' | ' | ' | '11 years | '14 years | '19 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Intangibles assumed | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 16,000,000 | 16,000,000 | ' | 17,200,000 | ' | ' | ' | 17,200,000 | 460,161,000 | ' | ' | ' | 457,907,000 | ' | 35,963,000 | ' | ' | ' | 35,963,000 | ' | ' | ' | ' | 10,148,000 | 61,164,000 | ' | ' | ' | 41,906,000 | ' | ' | ' | ' | 6,820,000 | ' | ' | ' | 6,820,000 | ' | ' | 10,148,000 | 17,135,000 | ' | ' | ' | ' | ' | 35,516,000 | 12,510,000 | ' | ' | ' | 12,510,000 | 4,105,000 | ' | ' | 4,105,000 | ' | 6,807,000 | ' | ' | ' | ' | 6,807,000 | 23,959,000 | ' | ' | ' | ' | 19,923,000 | ' | 7,874,000 | ' | ' | ' | ' | 7,874,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted average amortization period | ' | ' | ' | ' | ' | '16 years 3 months 26 days | '1 year | ' | '10 years | '20 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '20 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '11 years | ' | ' | ' | ' | '12 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '15 years | ' | ' | ' | ' | ' | ' | ' | ' | '11 years | '20 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '11 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Deferred Revenue From AboveNet Including The Portion Allocated To ZPS | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 146,016,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 40,807,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 39,999,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Deferred revenue acquired | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,054,000 | ' | ' | 19,203,000 | ' | ' | ' | ' | 143,373,000 | ' | ' | ' | ' | ' | 2,541,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 40,807,000 | ' | ' | ' | ' | ' | ' | ' | ' | 2,206,000 | ' | ' | ' | ' | ' | ' | 395,000 | 39,999,000 | ' | ' | ' | ' | ' | ' | 701,000 | ' | ' | ' | ' | 0 | ' | ' | ' | ' | 2,685,000 | ' | ' | ' | ' | ' | 45,455,000 | ' | ' | 45,455,000 | ' | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Combination, Deferred Revenue, Weighted Average Remaining Contractual Term | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '9 years 1 month 6 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '9 years 8 months 12 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '14 years 2 months 12 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '12 years 6 months | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Deferred Tax Assets, Net | 19,121,000 | 85,076,000 | ' | 19,121,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 42,126,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -37,516,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 85,076,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Expected deferred revenue recognition period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '9 years 1 month 6 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '12 years 6 months | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Deferred tax assets, net | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | 6,975,000 | ' | ' | ' | ' | 42,126,000 | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | 1,986,000 | ' | ' | ' | ' | ' | ' | 158,000 | 19,238,000 | ' | ' | ' | ' | ' | ' | 51,000 | ' | ' | ' | ' | 0 | ' | ' | ' | ' | 741,000 | ' | ' | ' | ' | ' | 85,076,000 | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net operating loss carry forwards generated | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,008,755,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 84,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Goodwill purchase accounting adjustments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,242,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Deferred tax asets purchase accounting adjustments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Purchase consideration returned | 0 | 2,672,000 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,875,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net operating loss carry forwards | 1,073,920,000 | ' | ' | 1,073,920,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Acquisition-related costs | 4,495,000 | 14,204,000 | 6,630,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Pending acquisition purchase price | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 40,068,000 | ' | ' | ' | ' | 40,068,000 | ' | 43,137,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 301,949 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Acquisition, Equity Interest Issued or Issuable, Value Assigned | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $1,637,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Acquisitions_Schedule_Of_Acqui
Acquisitions (Schedule Of Acquisition) (Details) (USD $) | 12 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | |||||||||||||||||||||||||||||||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012 | Jul. 02, 2012 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012 | Aug. 01, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012 | Oct. 02, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012 | Oct. 01, 2013 | Mar. 04, 2014 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012 | Oct. 02, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012 | Mar. 04, 2014 | Dec. 14, 2012 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012 | Dec. 31, 2012 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012 | 16-May-14 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012 | 31-May-13 | Jun. 30, 2013 | Jun. 30, 2012 | 1-May-12 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012 | Dec. 02, 2011 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012 | Dec. 31, 2011 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012 | Aug. 31, 2012 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012 | Oct. 02, 2012 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012 |
AboveNet [Member] | AboveNet [Member] | AboveNet [Member] | AboveNet [Member] | CoreLink [Member] | CoreLink [Member] | CoreLink [Member] | CoreLink [Member] | Access [Member] | Access [Member] | Access [Member] | Access [Member] | Access [Member] | CoreXchange [Member] | CoreXchange [Member] | CoreXchange [Member] | CoreXchange [Member] | Fiberlink [Member] | Fiberlink [Member] | Fiberlink [Member] | Fiberlink [Member] | First Telecom [Member] | First Telecom [Member] | First Telecom [Member] | First Telecom [Member] | First Telecom [Member] | Litecast [Member] | Litecast [Member] | Litecast [Member] | Litecast [Member] | Geo [Member] | Geo [Member] | Geo [Member] | Geo [Member] | Core NAP [Member] | Core NAP [Member] | Core NAP [Member] | Arialink [Member] | Arialink [Member] | Arialink [Member] | Arialink [Member] | 360networks [Member] | 360networks [Member] | 360networks [Member] | 360networks [Member] | MarquisNet [Member] | MarquisNet [Member] | MarquisNet [Member] | MarquisNet [Member] | FiberGate [Member] | FiberGate [Member] | FiberGate [Member] | FiberGate [Member] | USCarrier [Member] | USCarrier [Member] | USCarrier [Member] | USCarrier [Member] | ||||
Business Acquisition [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Acquisition date | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1-May-12 | ' | ' | ' | 1-Dec-11 | ' | ' | ' | 31-Dec-11 | ' | ' | ' | ' | ' | ' | ' | ' | 1-Oct-12 | ' | ' |
Cash acquired | ' | ' | ' | $139,137 | ' | ' | ' | $93 | ' | ' | ' | ' | ' | ' | ' | $1,162 | ' | ' | ' | ' | $1 | ' | ' | ' | $0 | $0 | ' | ' | ' | $0 | ' | ' | ' | $13,739 | ' | ' | ' | $0 | ' | ' | $74 | ' | ' | ' | $709 | ' | ' | $709 | $0 | ' | ' | ' | $2,278 | ' | ' | ' | $0 | ' | ' | ' |
Other current assets | ' | ' | ' | 47,547 | ' | ' | ' | 521 | ' | ' | ' | ' | ' | ' | ' | 2,283 | ' | ' | ' | ' | 811 | ' | ' | ' | 893 | 5,901 | ' | ' | ' | 256 | ' | ' | ' | 11,060 | ' | ' | ' | 198 | ' | ' | 97 | ' | ' | ' | 10,722 | ' | ' | ' | 64 | ' | ' | ' | 4,912 | ' | ' | ' | 1,297 | ' | ' | ' |
Property and equipment | ' | ' | ' | 1,477,320 | ' | ' | ' | 15,856 | ' | ' | ' | ' | ' | ' | ' | 8,401 | ' | ' | ' | ' | 6,105 | ' | ' | ' | 3,009 | 63,543 | ' | ' | ' | 386 | ' | ' | ' | 219,535 | ' | ' | ' | 2,507 | ' | ' | 8,873 | ' | ' | ' | 167,116 | ' | ' | ' | 1,295 | ' | ' | ' | 58,975 | ' | ' | ' | 19,361 | ' | ' | ' |
Deferred tax assets, net | ' | ' | ' | 42,126 | ' | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' | 6,975 | ' | ' | ' | 158 | 19,238 | ' | ' | ' | 51 | ' | ' | ' | 0 | ' | ' | ' | 0 | ' | ' | 741 | ' | ' | ' | 85,076 | ' | ' | ' | 0 | ' | ' | ' | 0 | ' | ' | ' | 1,986 | ' | ' | ' |
Intangibles assumed | ' | ' | ' | 460,161 | ' | ' | ' | 156 | ' | ' | ' | ' | ' | ' | ' | 16,000 | ' | ' | ' | ' | 17,200 | ' | ' | ' | 10,148 | 17,135 | ' | ' | ' | 12,510 | ' | ' | ' | 61,164 | ' | ' | ' | 4,105 | ' | ' | 6,807 | ' | ' | ' | 23,959 | ' | ' | ' | 7,874 | ' | ' | ' | 35,963 | ' | ' | ' | 6,820 | ' | ' | ' |
Goodwill | 846,462 | 682,775 | 193,803 | 374,302 | ' | ' | ' | 2,950 | ' | ' | ' | ' | ' | ' | ' | 26,968 | ' | ' | ' | ' | 32,258 | ' | ' | ' | 4,458 | 48,382 | ' | ' | ' | 9,867 | ' | ' | ' | 91,249 | ' | ' | ' | 986 | ' | ' | 3,753 | ' | ' | ' | 100,335 | ' | ' | ' | 4,735 | ' | ' | ' | 53,783 | ' | ' | ' | 5,376 | ' | ' | ' |
Other assets | ' | ' | ' | 12,564 | ' | ' | ' | 545 | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' | 144 | ' | ' | ' | 44 | 60 | ' | ' | ' | 0 | ' | ' | ' | 9,873 | ' | ' | ' | 0 | ' | ' | 31 | ' | ' | ' | 214 | ' | ' | ' | 0 | ' | ' | ' | 58 | ' | ' | ' | 27 | ' | ' | ' |
Total assets acquired | ' | ' | ' | 2,553,157 | ' | ' | ' | 20,121 | ' | ' | ' | ' | ' | ' | ' | 54,814 | ' | ' | ' | ' | 63,494 | ' | ' | ' | 18,710 | 154,259 | ' | ' | ' | 23,070 | ' | ' | ' | 406,620 | ' | ' | ' | 7,796 | ' | ' | 20,376 | ' | ' | ' | 388,131 | ' | ' | ' | 13,968 | ' | ' | ' | 155,969 | ' | ' | ' | 34,867 | ' | ' | ' |
Current liabilities | ' | ' | ' | 77,004 | ' | ' | ' | 718 | ' | ' | ' | ' | ' | ' | ' | 989 | ' | ' | ' | ' | 1,153 | ' | ' | ' | 607 | 4,560 | ' | ' | ' | 209 | ' | ' | ' | 22,226 | ' | ' | ' | 543 | ' | ' | 1,295 | ' | ' | ' | 32,304 | ' | ' | ' | 254 | ' | ' | ' | 1,508 | ' | ' | ' | 3,742 | ' | ' | ' |
Deferred revenue | ' | ' | ' | 143,373 | ' | ' | ' | 219 | ' | ' | ' | ' | ' | ' | ' | 5,054 | ' | ' | ' | ' | 19,203 | ' | ' | ' | 395 | 39,999 | ' | ' | ' | 701 | ' | ' | ' | 40,807 | ' | ' | ' | 0 | ' | ' | 2,685 | ' | ' | ' | 45,455 | ' | 45,455 | ' | 0 | ' | ' | ' | 2,541 | ' | ' | ' | 2,206 | ' | ' | ' |
Other liabilities | ' | ' | ' | 5,069 | ' | ' | ' | 14,240 | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' | 0 | ' | ' | ' | 205 | 0 | ' | ' | ' | 0 | ' | ' | ' | 0 | ' | ' | ' | 173 | ' | ' | 945 | ' | ' | ' | 3,472 | ' | ' | ' | 133 | ' | ' | ' | 0 | ' | ' | ' | 0 | ' | ' | ' |
Deferred tax liability, net | ' | ' | ' | 0 | ' | ' | ' | 2,962 | ' | ' | ' | ' | ' | ' | ' | 7,541 | ' | ' | ' | ' | 0 | ' | ' | ' | 0 | 0 | ' | ' | ' | 0 | ' | ' | ' | 37,516 | ' | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 31,307 | ' | ' | ' | 0 | ' | ' | ' |
Total liabilities assumed | ' | ' | ' | 225,446 | ' | ' | ' | 18,139 | ' | ' | ' | ' | ' | ' | ' | 13,584 | ' | ' | ' | ' | 20,356 | ' | ' | ' | 1,207 | 44,559 | ' | ' | ' | 910 | ' | ' | ' | 100,549 | ' | ' | ' | 716 | ' | ' | 4,925 | ' | ' | ' | 81,231 | ' | ' | ' | 387 | ' | ' | ' | 35,356 | ' | ' | ' | 5,948 | ' | ' | ' |
Net assets acquired | ' | ' | ' | 2,327,711 | ' | ' | ' | 1,982 | ' | ' | ' | ' | ' | ' | ' | 41,230 | ' | ' | ' | ' | 43,138 | ' | ' | ' | 17,503 | 109,700 | ' | ' | ' | 22,160 | ' | ' | ' | 306,071 | ' | ' | ' | 7,080 | ' | ' | 15,451 | ' | ' | ' | 306,900 | ' | ' | ' | 13,581 | ' | ' | ' | 120,613 | ' | ' | ' | 28,919 | ' | ' | ' |
Net assets of Zayo Professional Services (excluding cash) | ' | ' | ' | 23,918 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | 0 | ' | ' | ' |
Cost method investment in US Carrier prior to acquisition | ' | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | -12,827 | ' | ' | ' |
Net assets distributed to parent | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,752 | ' | ' | 1,752 | 11,700 | ' | ' | 11,700 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Less cash acquired | ' | ' | ' | -139,137 | ' | ' | ' | -93 | ' | ' | ' | ' | ' | ' | ' | -1,162 | ' | ' | ' | ' | -1 | ' | ' | ' | 0 | 0 | ' | ' | ' | 0 | ' | ' | ' | -13,739 | ' | ' | ' | 0 | ' | ' | -74 | ' | ' | ' | -709 | ' | ' | -709 | 0 | ' | ' | ' | -2,278 | ' | ' | ' | 0 | ' | ' | ' |
Net cash paid | $393,341 | $2,483,137 | ' | $2,212,492 | $0 | $2,212,492 | $0 | $1,889 | $251 | $0 | $0 | $40,068 | $40,068 | $0 | $0 | ' | $17,503 | $17,503 | $0 | $0 | $43,137 | $43,137 | $0 | $0 | $17,503 | $109,700 | $0 | $109,700 | $0 | $22,160 | $0 | $22,160 | $0 | $292,332 | $292,332 | $0 | $0 | $7,080 | $7,030 | $0 | $17,129 | $0 | $0 | $17,926 | $317,891 | $0 | $0 | $317,891 | $13,581 | $0 | $0 | $15,456 | $118,335 | $0 | $118,335 | $0 | $16,092 | $0 | $16,092 | $0 |
Acquisitions_Schedule_of_Defer
Acquisitions (Schedule of Deferred Tax Assets and Liabilities) (Details) (USD $) | Jun. 30, 2014 | Mar. 31, 2014 | Jun. 30, 2013 | Dec. 02, 2011 | Jul. 02, 2012 | 16-May-14 |
In Thousands, unless otherwise specified | 360networks [Member] | AboveNet [Member] | Geo [Member] | |||
Deferred income tax assets: | ' | ' | ' | ' | ' | ' |
Net operating loss carry forwards | $418,157 | ' | $533,558 | $29,587 | $405,292 | $2,529 |
Property and equipment | ' | ' | ' | 41,071 | 0 | 0 |
Deferred revenue | 191,220 | ' | 99,241 | 16,456 | 49,140 | 4,908 |
Accrued expenses | ' | ' | ' | 2,301 | 12,243 | 0 |
Allowance for doubtful accounts | 6,261 | ' | 3,203 | 16 | 2,435 | 0 |
Total deferred income tax assets | 653,644 | 59,756 | 668,812 | 89,431 | 469,110 | 7,437 |
Deferred income tax liabilities: | ' | ' | ' | ' | ' | ' |
Property and equipment | -374,391 | ' | -331,511 | 0 | -249,963 | -32,720 |
Intangible assets | -230,697 | ' | -220,551 | -4,355 | -177,021 | -12,233 |
Total deferred income tax liabilities | -632,349 | ' | -583,736 | -4,355 | -426,984 | -44,953 |
Net deferred income tax asset | $19,121 | ' | $85,076 | $85,076 | $42,126 | ($37,516) |
Acquisitions_Schedule_of_Inter
Acquisitions (Schedule of Interim Period Fair Value Adjustments) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||||||||||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012 | ||||||||
Business Acquisition [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Revenue | $290,928 | [1] | $278,038 | [2] | $273,599 | [3],[4] | $264,345 | [5] | $258,170 | [6] | $253,148 | [7] | $245,265 | [8],[9] | $231,502 | [10] | $1,106,910 | $988,085 | $382,043 |
Depreciation and amortization expense | 90,872 | [1] | 83,703 | [2] | 81,257 | [3],[4] | 80,575 | [5] | 80,191 | [6] | 79,473 | [7] | 83,467 | [8],[9] | 79,549 | [10] | 336,407 | 322,680 | 84,961 |
Net loss | ($72,176) | [1] | ($44,054) | [2] | ($36,315) | [3],[4] | ($27,932) | [5] | ($24,386) | [6] | ($18,543) | [7] | ($34,242) | [8],[9] | ($65,586) | [10] | ($180,477) | ($142,757) | ($5,849) |
[1] | The Company realized an increase in revenue and operating expenses beginning May 16, 2014 as a result of the acquisition of Geo. | ||||||||||||||||||
[2] | The Company realized an increase in revenue and operating expenses beginning March 4, 2014 as a result of the acquisition of CoreXchange. | ||||||||||||||||||
[3] | The Company realized an increase in revenue and operating expenses beginning October 1, 2013 as a result of the acquisition of Access. | ||||||||||||||||||
[4] | The Company realized an increase in revenue and operating expenses beginning October 1, 2013 as a result of the acquisition of Fiberlink. | ||||||||||||||||||
[5] | The Company realized an increase in revenue and operating expenses beginning August 1, 2013 as a result of the acquisition of Corelink. | ||||||||||||||||||
[6] | The Company realized an increase in revenue and operating expenses beginning June 1, 2013 as a result of the acquisition of Core NAP. | ||||||||||||||||||
[7] | The Company realized an increase in revenue and operating expenses beginning December 31, 2012 as a result of the acquisition of Litecast. | ||||||||||||||||||
[8] | The Company realized an increase in revenue and operating expenses beginning October 1, 2012 as a result of the acquisition of USCarrier. | ||||||||||||||||||
[9] | The Company realized an increase in revenue and operating expenses beginning December 14, 2012 as a result of the acquisition of First Telecom. | ||||||||||||||||||
[10] | The Company realized an increase in revenue and operating expenses beginning August 31, 2012 as a result of the acquisition of FiberGate. |
Acquisitions_Schedule_Of_ProFo
Acquisitions (Schedule Of Pro-Forma Financial Information) (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 |
Business Combinations [Abstract] | ' | ' |
Revenue | $1,158,545 | $1,079,193 |
Loss from continuing operations | ($183,153) | ($265,157) |
SpinOff_of_Business_Narrative_
Spin-Off of Business (Narrative) (Details) (USD $) | 12 Months Ended |
In Thousands, unless otherwise specified | Jun. 30, 2013 |
Discontinued Operations and Disposal Groups [Abstract] | ' |
Intercompany expenses | $1,544 |
SpinOff_of_Business_Earnings_F
Spin-Off of Business (Earnings From Discontinued Operations, Net Of Income taxes (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||||||||||||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012 | ||||||||||
Discontinued Operations and Disposal Groups [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | $0 | $6,474 | $0 | ||||||||||
Earnings before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 3,011 | 0 | ||||||||||
Income tax expense | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 1,203 | 0 | ||||||||||
Earnings from discontinued operations, net of income taxes | $0 | [1],[2] | $0 | [1],[3] | $0 | [1],[4],[5] | $0 | [1],[6] | $0 | [1],[7] | $0 | [1],[8] | $0 | [1],[10],[9] | $1,808 | [1],[11] | $0 | [1] | $1,808 | [1] | $0 |
[1] | The Company spun-off its ZPS operating unit on September 30, 2012 - see Note 4 - Spin-Off of Business. | ||||||||||||||||||||
[2] | The Company realized an increase in revenue and operating expenses beginning May 16, 2014 as a result of the acquisition of Geo. | ||||||||||||||||||||
[3] | The Company realized an increase in revenue and operating expenses beginning March 4, 2014 as a result of the acquisition of CoreXchange. | ||||||||||||||||||||
[4] | The Company realized an increase in revenue and operating expenses beginning October 1, 2013 as a result of the acquisition of Access. | ||||||||||||||||||||
[5] | The Company realized an increase in revenue and operating expenses beginning October 1, 2013 as a result of the acquisition of Fiberlink. | ||||||||||||||||||||
[6] | The Company realized an increase in revenue and operating expenses beginning August 1, 2013 as a result of the acquisition of Corelink. | ||||||||||||||||||||
[7] | The Company realized an increase in revenue and operating expenses beginning June 1, 2013 as a result of the acquisition of Core NAP. | ||||||||||||||||||||
[8] | The Company realized an increase in revenue and operating expenses beginning December 31, 2012 as a result of the acquisition of Litecast. | ||||||||||||||||||||
[9] | The Company realized an increase in revenue and operating expenses beginning October 1, 2012 as a result of the acquisition of USCarrier. | ||||||||||||||||||||
[10] | The Company realized an increase in revenue and operating expenses beginning December 14, 2012 as a result of the acquisition of First Telecom. | ||||||||||||||||||||
[11] | The Company realized an increase in revenue and operating expenses beginning August 31, 2012 as a result of the acquisition of FiberGate. |
Investment_Narrative_Details
Investment (Narrative) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012 |
Business Acquisition, Equity Interests Issued or Issuable [Line Items] | ' | ' | ' |
Ownership interest | ' | ' | 100.00% |
Impairment of cost method investment | $0 | $0 | $2,248 |
USCarrier [Member] | ' | ' | ' |
Business Acquisition, Equity Interests Issued or Issuable [Line Items] | ' | ' | ' |
Acquisition date | 1-Oct-12 | ' | ' |
Acquisition agreement date | 15-Aug-12 | ' | ' |
Carrying value of ownership interest | ' | 12,827 | ' |
Fair market value of ownership interest | ' | 15,075 | ' |
Impairment of cost method investment | ' | ' | $2,248 |
USCarrier [Member] | Class A [Member] | ' | ' | ' |
Business Acquisition, Equity Interests Issued or Issuable [Line Items] | ' | ' | ' |
Ownership interest | ' | ' | 55.00% |
USCarrier [Member] | Class B [Member] | ' | ' | ' |
Business Acquisition, Equity Interests Issued or Issuable [Line Items] | ' | ' | ' |
Ownership interest | ' | ' | 34.00% |
Property_And_Equipment_Narrati
Property And Equipment (Narrative) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012 |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Depreciation expense | $294,101 | $280,113 | $70,357 |
Capital leased property and equipment, net | 117,174 | 72,260 | ' |
Capital leased property and equipment, accumulated depreciation | 24,011 | 13,217 | ' |
Grant money from the NTIA's broadband technology opportunities program | ' | 9,319 | 22,826 |
Capitalized interest | 12,636 | 12,970 | 5,472 |
Capitalized labor costs included in fixed assets | 42,685 | 28,613 | 9,373 |
Assets Held under Capital Leases [Member] | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Depreciation expense | $10,794 | $8,512 | $3,142 |
Property_And_Equipment_Schedul
Property And Equipment (Schedule Of Property And Equipment) (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment, gross | $3,546,030 | $2,855,076 |
Less accumulated depreciation | -737,721 | -443,856 |
Property and equipment, net | 2,808,309 | 2,411,220 |
Land [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment, gross | 712 | 712 |
Building And Site Improvements [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment, gross | 64,120 | 50,094 |
Building And Site Improvements [Member] | Minimum [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Estimated useful life in years | '15 years | ' |
Building And Site Improvements [Member] | Maximum [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Estimated useful life in years | '20 years | ' |
Furniture, Fixtures And Office Equipment [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment, gross | 5,721 | 4,223 |
Furniture, Fixtures And Office Equipment [Member] | Minimum [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Estimated useful life in years | '3 years | ' |
Furniture, Fixtures And Office Equipment [Member] | Maximum [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Estimated useful life in years | '7 years | ' |
Computer Hardware [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment, gross | 16,648 | 14,130 |
Computer Hardware [Member] | Minimum [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Estimated useful life in years | '3 years | ' |
Computer Hardware [Member] | Maximum [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Estimated useful life in years | '5 years | ' |
Software [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment, gross | 9,344 | 7,623 |
Estimated useful life in years | '3 years | ' |
Machinery And Equipment [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment, gross | 94,881 | 58,364 |
Machinery And Equipment [Member] | Minimum [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Estimated useful life in years | '5 years | ' |
Machinery And Equipment [Member] | Maximum [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Estimated useful life in years | '7 years | ' |
Fiber Optic Equipment [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment, gross | 583,693 | 483,508 |
Estimated useful life in years | '8 years | ' |
Circuit Switch Equipment [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment, gross | 11,817 | 11,173 |
Estimated useful life in years | '10 years | ' |
Packet Switch Equipment [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment, gross | 62,844 | 41,133 |
Estimated useful life in years | '5 years | ' |
Fiber Optic Network [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment, gross | 2,437,378 | 1,934,948 |
Fiber Optic Network [Member] | Minimum [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Estimated useful life in years | '15 years | ' |
Fiber Optic Network [Member] | Maximum [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Estimated useful life in years | '20 years | ' |
Construction In Progress [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment, gross | $258,872 | $249,168 |
Goodwill_Schedule_Of_Goodwill_
Goodwill (Schedule Of Goodwill) (Details) (USD $) | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2013 | Jul. 02, 2012 | Jun. 30, 2013 | Jun. 30, 2013 | Jun. 30, 2013 | Jun. 30, 2013 | Jun. 30, 2013 | Jun. 30, 2013 | Jun. 30, 2013 | Jun. 30, 2013 | Aug. 31, 2012 | Jun. 30, 2013 | Jun. 30, 2013 | Jun. 30, 2013 | Jun. 30, 2013 | Jun. 30, 2013 | Jun. 30, 2013 | Jun. 30, 2013 | Jun. 30, 2013 | Oct. 02, 2012 | Jun. 30, 2013 | Jun. 30, 2013 | Jun. 30, 2013 | Jun. 30, 2013 | Jun. 30, 2013 | Jun. 30, 2013 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Mar. 04, 2014 | Dec. 14, 2012 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2013 | Dec. 31, 2012 | Jun. 30, 2013 | Jun. 30, 2013 | Jun. 30, 2013 | Jun. 30, 2013 | Jun. 30, 2013 | Jun. 30, 2013 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | 31-May-13 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Aug. 01, 2013 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Oct. 01, 2013 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Oct. 02, 2013 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | 16-May-14 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 |
United Kingdom [Member] | Waves [Member] | Waves [Member] | Sonet [Member] | Sonet [Member] | Ethernet [Member] | Ethernet [Member] | IP [Member] | IP [Member] | MIG [Member] | MIG [Member] | Dark Fiber [Member] | Dark Fiber [Member] | zColo [Member] | zColo [Member] | AboveNet [Member] | AboveNet [Member] | AboveNet [Member] | AboveNet [Member] | AboveNet [Member] | AboveNet [Member] | AboveNet [Member] | AboveNet [Member] | AboveNet [Member] | FiberGate [Member] | FiberGate [Member] | FiberGate [Member] | FiberGate [Member] | FiberGate [Member] | FiberGate [Member] | FiberGate [Member] | FiberGate [Member] | FiberGate [Member] | USCarrier [Member] | USCarrier [Member] | USCarrier [Member] | USCarrier [Member] | USCarrier [Member] | USCarrier [Member] | USCarrier [Member] | USCarrier [Member] | USCarrier [Member] | First Telecom [Member] | First Telecom [Member] | First Telecom [Member] | First Telecom [Member] | First Telecom [Member] | First Telecom [Member] | First Telecom [Member] | First Telecom [Member] | First Telecom [Member] | First Telecom [Member] | First Telecom [Member] | First Telecom [Member] | First Telecom [Member] | First Telecom [Member] | First Telecom [Member] | First Telecom [Member] | First Telecom [Member] | First Telecom [Member] | Litecast [Member] | Litecast [Member] | Litecast [Member] | Litecast [Member] | Litecast [Member] | Litecast [Member] | Litecast [Member] | Litecast [Member] | Litecast [Member] | Core NAP [Member] | Core NAP [Member] | Core NAP [Member] | Core NAP [Member] | Core NAP [Member] | Core NAP [Member] | Core NAP [Member] | Core NAP [Member] | Core NAP [Member] | Core NAP [Member] | Core NAP [Member] | Core NAP [Member] | Core NAP [Member] | Core NAP [Member] | Core NAP [Member] | Core NAP [Member] | Core NAP [Member] | CoreLink [Member] | CoreLink [Member] | CoreLink [Member] | CoreLink [Member] | CoreLink [Member] | CoreLink [Member] | CoreLink [Member] | CoreLink [Member] | CoreLink [Member] | Access [Member] | Access [Member] | Access [Member] | Access [Member] | Access [Member] | Access [Member] | Access [Member] | Access [Member] | Access [Member] | Fiberlink [Member] | Fiberlink [Member] | Fiberlink [Member] | Fiberlink [Member] | Fiberlink [Member] | Fiberlink [Member] | Fiberlink [Member] | Fiberlink [Member] | Fiberlink [Member] | CoreXchange [Member] | CoreXchange [Member] | CoreXchange [Member] | CoreXchange [Member] | CoreXchange [Member] | CoreXchange [Member] | CoreXchange [Member] | CoreXchange [Member] | Geo [Member] | Geo [Member] | Geo [Member] | Geo [Member] | Geo [Member] | Geo [Member] | Geo [Member] | Geo [Member] | Geo [Member] | |||
Waves [Member] | Sonet [Member] | Ethernet [Member] | IP [Member] | MIG [Member] | Dark Fiber [Member] | zColo [Member] | Waves [Member] | Sonet [Member] | Ethernet [Member] | IP [Member] | MIG [Member] | Dark Fiber [Member] | zColo [Member] | Waves [Member] | Sonet [Member] | Ethernet [Member] | IP [Member] | MIG [Member] | Dark Fiber [Member] | zColo [Member] | Waves [Member] | Waves [Member] | Sonet [Member] | Sonet [Member] | Ethernet [Member] | Ethernet [Member] | IP [Member] | IP [Member] | MIG [Member] | MIG [Member] | Dark Fiber [Member] | Dark Fiber [Member] | zColo [Member] | zColo [Member] | Waves [Member] | Sonet [Member] | Ethernet [Member] | IP [Member] | MIG [Member] | Dark Fiber [Member] | zColo [Member] | Waves [Member] | Waves [Member] | Sonet [Member] | Sonet [Member] | Ethernet [Member] | Ethernet [Member] | IP [Member] | IP [Member] | MIG [Member] | MIG [Member] | Dark Fiber [Member] | Dark Fiber [Member] | zColo [Member] | zColo [Member] | Waves [Member] | Sonet [Member] | Ethernet [Member] | IP [Member] | MIG [Member] | Dark Fiber [Member] | zColo [Member] | Waves [Member] | Sonet [Member] | Ethernet [Member] | IP [Member] | MIG [Member] | Dark Fiber [Member] | zColo [Member] | Waves [Member] | Sonet [Member] | Ethernet [Member] | IP [Member] | MIG [Member] | Dark Fiber [Member] | zColo [Member] | Waves [Member] | Sonet [Member] | Ethernet [Member] | IP [Member] | MIG [Member] | Dark Fiber [Member] | zColo [Member] | Waves [Member] | Sonet [Member] | Ethernet [Member] | IP [Member] | MIG [Member] | Dark Fiber [Member] | zColo [Member] | ||||||||||||||||||||||||||||||||||||||||||
Goodwill | $682,775 | $193,803 | ' | $215,864 | $57,110 | $50,286 | $13,295 | $91,708 | $24,257 | $80,073 | $21,186 | $38,312 | $10,131 | $189,869 | $62,253 | $16,663 | $5,571 | ' | $374,302 | ' | ' | ' | ' | ' | ' | ' | ' | $53,783 | ' | ' | ' | ' | ' | ' | ' | ' | $5,376 | ' | ' | ' | ' | ' | ' | ' | ' | ' | $4,458 | $48,382 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $9,867 | ' | ' | ' | ' | ' | ' | ' | ' | ' | $986 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $2,950 | ' | ' | ' | ' | ' | ' | ' | ' | $26,968 | ' | ' | ' | ' | ' | ' | ' | ' | $32,258 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $91,249 | ' | ' | ' | ' | ' | ' | ' |
Additions | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 374,331 | ' | 156,823 | 36,506 | 66,607 | 58,174 | 27,819 | 23,288 | 5,114 | 53,783 | ' | 0 | 0 | 0 | 0 | 0 | 53,783 | 0 | 5,376 | ' | 1,908 | 444 | 810 | 708 | 338 | 855 | 313 | 3,446 | 44,936 | ' | ' | 597 | 29 | 0 | 7 | 149 | 12 | 0 | 11 | 0 | 5 | 2,700 | 44,864 | 0 | 8 | 9,868 | ' | 706 | 164 | 300 | 262 | 125 | 8,277 | 34 | -4,688 | 5,674 | ' | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -4,688 | 5,674 | 2,950 | ' | 0 | 0 | 0 | 0 | 0 | 0 | 2,950 | 26,968 | ' | 0 | 0 | 5,129 | 137 | 5,823 | 15,879 | 0 | 32,258 | ' | 0 | 0 | 0 | 0 | 0 | 32,258 | 0 | 4,458 | 0 | 0 | 0 | 0 | 0 | 0 | 4,458 | 91,249 | ' | 25,654 | 0 | 0 | 0 | 0 | 65,595 | 0 |
Other adjustments | 7,046 | -4,996 | ' | 42 | -712 | 0 | -130 | 157 | -278 | 226 | -268 | 0 | -106 | 6,378 | -3,451 | 243 | -51 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Goodwill | 846,462 | 682,775 | ' | 242,157 | 215,864 | 50,286 | 50,286 | 97,143 | 91,708 | 80,436 | 80,073 | 44,135 | 38,312 | 312,679 | 189,869 | 19,626 | 16,663 | ' | 374,302 | ' | ' | ' | ' | ' | ' | ' | ' | 53,783 | ' | ' | ' | ' | ' | ' | ' | ' | 5,376 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,458 | 48,382 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 9,867 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 986 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,950 | ' | ' | ' | ' | ' | ' | ' | ' | 26,968 | ' | ' | ' | ' | ' | ' | ' | ' | 32,258 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 91,249 | ' | ' | ' | ' | ' | ' | ' |
Goodwill, foreign currency adjustment | ' | ' | 7,046 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Goodwill purchase accounting adjustments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $1,242 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Intangible_Assets_Narrative_De
Intangible Assets (Narrative) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012 |
Acquired Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Amortization of intangible assets | $42,306 | $42,567 | $14,604 |
Write off of fully amortized intangible assets | $27,167 | $548 | ' |
Customer relationships [Member] | ' | ' | ' |
Acquired Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Weighted average amortization period | '16 years 3 months 26 days | ' | ' |
Tradenames [Member] | ' | ' | ' |
Acquired Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Weighted average amortization period | '1 year | ' | ' |
Underlying rights [Member] | ' | ' | ' |
Acquired Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Amortization period | '18 years | ' | ' |
Easement [Member] | ' | ' | ' |
Acquired Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Amortization period | '11 years | ' | ' |
Intangible_Assets_Schedule_Of_
Intangible Assets (Schedule Of Intangible Assets) (Details) (USD $) | Jun. 30, 2014 | Jun. 30, 2013 |
In Thousands, unless otherwise specified | ||
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross Carrying Amount | $766,750 | $717,984 |
Accumulated Amortization | -100,640 | -85,214 |
Total Net | 666,110 | 632,770 |
Intangible Assets, Gross (Excluding Goodwill) | 789,664 | 721,472 |
Intangible Assets, Net | 689,024 | 636,258 |
Certifications [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross Carrying Amount, Indefinite-lived Intangibles | 3,488 | 3,488 |
Intangible Assets, Net | 3,488 | 3,488 |
Easement indefinite [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross Carrying Amount, Indefinite-lived Intangibles | 19,426 | ' |
Intangible Assets, Net | 19,426 | ' |
Customer relationships [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross Carrying Amount | 764,905 | 715,730 |
Accumulated Amortization | -100,513 | -84,570 |
Total Net | 664,392 | 631,160 |
Tradenames [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross Carrying Amount | 85 | 1,179 |
Accumulated Amortization | -11 | -590 |
Total Net | 74 | 589 |
Underlying rights [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross Carrying Amount | 1,760 | 1,075 |
Accumulated Amortization | -116 | -54 |
Total Net | $1,644 | $1,021 |
Intangible_Assets_Schedule_Of_1
Intangible Assets (Schedule Of Estimated Future Amortization Of Intangible Assets) (Details) (USD $) | Jun. 30, 2014 | Jun. 30, 2013 |
In Thousands, unless otherwise specified | ||
Intangible Assets, Net (Excluding Goodwill) [Abstract] | ' | ' |
2015 | $44,505 | ' |
2016 | 44,323 | ' |
2017 | 44,323 | ' |
2018 | 44,323 | ' |
2019 | 44,323 | ' |
Thereafter | 444,313 | ' |
Total Net | $666,110 | $632,770 |
LongTerm_Debt_Narrative_Detail
Long-Term Debt (Narrative) (Details) (USD $) | 0 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | 3 Months Ended | 0 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||
In Thousands, unless otherwise specified | 16-May-14 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012 | Apr. 30, 2014 | Sep. 30, 2012 | Sep. 30, 2012 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Jun. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Jul. 02, 2012 | Jul. 02, 2012 | Jun. 30, 2014 | Jun. 30, 2014 | Jul. 02, 2012 | Mar. 31, 2014 | Jun. 30, 2014 | Jul. 02, 2012 | Mar. 31, 2014 | Mar. 31, 2014 | 16-May-14 | Jul. 02, 2012 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Oct. 05, 2012 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Oct. 05, 2012 | Jun. 30, 2014 | Jun. 30, 2014 | Oct. 05, 2012 | Jun. 30, 2014 | Oct. 05, 2012 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Aug. 13, 2012 | Jun. 30, 2014 | Jun. 30, 2013 | ||||||||||
Early Redemption Fees [Member] | Unamortized Debt Discount [Member] | Second Amendment [Member] | Fourth Amendment [Member] | Second and Fourth Amendment [Member] | Fifth Amendment [Member] | Sixth Amendment [Member] | New Term Loan Facility [Member] | New Term Loan Facility [Member] | New Term Loan Facility [Member] | Senior Secured Notes [Member] | Senior Unsecured Notes [Member] | Senior Unsecured Notes [Member] | Senior Unsecured Notes [Member] | Revolver [Member] | Revolver [Member] | Term Loan Facility [Member] | Term Loan Facility [Member] | Term Loan Facility [Member] | Term Loan Facility [Member] | Term Loan Facility [Member] | Revolving Credit Facility [Member] | Standby Letter Of Credit [Member] | Original Revolver [Member] | Original Revolver [Member] | Original Revolver [Member] | Original Revolver [Member] | Original Revolver [Member] | Senior Secured Notes - Original Notes [Member] | Senior Secured Notes - Original Notes [Member] | Original Term Loan Facility [Member] | Original Term Loan Facility [Member] | Original Term Loan Facility [Member] | Original Term Loan Facility [Member] | Original Term Loan Facility [Member] | Original Term Loan Facility [Member] | Original Term Loan Facility [Member] | Settlement of Debt Obligations in July 2012 [Member] | Material amendment to existing debt obligations [Member] | Material amendment to existing debt obligations [Member] | Interest Rate Swap [Member] | Interest Rate Swap [Member] | Interest Rate Swap [Member] | ||||||||||||||||||||||||
Fifth Amendment [Member] | Fifth Amendment [Member] | Fifth Amendment [Member] | Debt Instrument, Redemption, Period One [Member] | Fifth Amendment [Member] | LIBOR [Member] | Fifth Amendment [Member] | Sixth Amendment [Member] | LIBOR [Member] | LIBOR [Member] | Fourth Amendment [Member] | Fourth Amendment [Member] | Debt Instrument, Redemption, Period One [Member] | LIBOR [Member] | Second Amendment [Member] | Second Amendment [Member] | Second Amendment [Member] | Fourth Amendment [Member] | Fourth Amendment [Member] | Fourth Amendment [Member] | |||||||||||||||||||||||||||||||||||||||||||||||
Third Party Costs Cash Expense [Member] | Unamortized Debt Issuance Costs And Discount On Debt [Member] | LIBOR [Member] | Minimum [Member] | LIBOR [Member] | Minimum [Member] | Maximum [Member] | LIBOR [Member] | LIBOR [Member] | Minimum [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||
Notes face amount | ' | $100,000 | ' | ' | ' | ' | ' | ' | ' | $100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $750,000 | $500,000 | ' | ' | $250,000 | ' | ' | $1,620,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||
Discount on debt | ' | 20,653 | ' | ' | ' | 23,095 | ' | ' | ' | 20,653 | 23,095 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 30,000 | ' | ' | 1,375 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||
Debt issuance cost | ' | ' | ' | ' | ' | ' | ' | ' | ' | 114,796 | ' | ' | ' | ' | ' | 15,261 | 15,040 | ' | ' | ' | 1,512 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,196 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 19,706 | 675 | 22,561 | ' | ' | ' | ||||||||||
Percentage over variable rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.75% | ' | ' | 1.00% | 3.00% | ' | ' | ' | ' | ' | ' | ' | 3.00% | ' | ' | 3.50% | ' | ' | 4.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||
Effective interest rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4.00% | 7.13% | ' | ' | ' | ' | ' | 3.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||
Debt instrument carrying amount | 2,015,900 | 3,240,123 | 1,749,750 | ' | ' | 2,830,705 | ' | ' | ' | 3,240,123 | 2,830,705 | ' | 1,740,900 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||
Debt instrument, interest rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8.13% | 10.13% | ' | ' | ' | ' | ' | 5.88% | ' | ' | ' | 5.38% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||
Outstanding letters of credit | ' | 6,428 | ' | ' | ' | ' | ' | ' | ' | 6,428 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6,428 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||
Available borrowing capacity | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 243,572 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||
Ownership percentage in subsidiary | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||
Debt instrument, maturity date | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '2020 | '2020 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||
Loss on extinguishment of debt | ' | 0 | [1],[2] | 0 | [1],[3] | 1,911 | [1],[4],[5] | 0 | [1],[6] | 0 | [7],[8] | 6,571 | [7],[9] | 5,707 | [10],[11],[7] | 64,975 | [12],[7] | 1,911 | [1] | 77,253 | [7] | 0 | ' | ' | -8,145 | -939 | -1,079 | ' | ' | ' | -1,911 | -955 | -956 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payment of early redemption fees on debt extinguished | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 72,117 | 0 | ' | 39,798 | ' | ' | ' | 12,278 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||
Write-off of unamortized debt issuance costs | ' | ' | ' | ' | ' | ' | ' | ' | 17,032 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||
Interest rate decrease | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.50% | ' | ' | ' | ' | 187.50% | ' | ' | 0.50% | ' | 0.25% | ' | ' | ' | ' | ' | ' | ||||||||||
Interest rate floor | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4.50% | 5.25% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||
Secured debt ratio | ' | 4.5 | ' | ' | ' | ' | ' | ' | ' | 4.5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||
Total leverage ratio | ' | 5.25 | ' | ' | ' | ' | ' | ' | ' | 5.25 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||
Call premiums | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 16,200 | ' | ' | 16,119 | ' | ' | ' | ' | ' | ' | ' | ||||||||||
Repayments on long-term debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | 18,013 | 1,058,577 | 1,575 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 344,452 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||
Proceeds from issuance of long-term debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 150,000 | 275,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 344,452 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||
Debt Instrument, Call Feature | '0.995 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||
Unused commitment, percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.25% | 0.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||
Payment towards principal | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,113 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||
Percentage of excess cash flows committed to debt payments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||
Interest expense | ' | 52,603 | [2] | 49,131 | [3] | 50,277 | [4],[5] | 51,497 | [6] | 37,656 | [13],[8] | 49,618 | [13],[9] | 52,635 | [10],[11],[13] | 62,555 | [12],[13] | 203,508 | 202,464 | [13] | 50,720 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |
Unamortized debt issuance cost | ' | 89,380 | ' | ' | ' | 99,098 | ' | ' | ' | 89,380 | 99,098 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||
Revolver interest rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.00% | 3.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||
Accretion of premium on debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | 25,416 | 11,482 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||
Unamortized debt issuance related interest | ' | ' | ' | ' | ' | ' | ' | ' | ' | 13,917 | 11,482 | 3,441 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||
Redemption price | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||
Percentage of aggregate debt instruments outstanding subject to redemption | ' | 35.00% | ' | ' | ' | ' | ' | ' | ' | 35.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||
Mandatory redemption price expressed as percentage of principal amount on senior notes in event of an equity offering | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 110.13% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 108.13% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||
Percentage of remaining outstanding aggregate principal amount of notes issued under the indenture | ' | 65.00% | ' | ' | ' | ' | ' | ' | ' | 65.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||
Equity offering redemption period | ' | '90 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||
Notional amount of derivative | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 750,000 | ' | ' | ||||||||||
Derivative, maturity date | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 30-Jun-17 | ' | ' | ||||||||||
Derivative, fixed interest rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.67% | ' | ' | ||||||||||
Derivative, floor rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.25% | ' | ' | ||||||||||
Change in fair value of interest rate swap | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -4,656 | -2,642 | ||||||||||
Fair value of interest rate swaps | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ($2,014) | ($2,642) | ||||||||||
[1] | The Company completed a debt refinancing transaction during the second quarter of Fiscal 2014, resulting in a loss on debt extinguishment for that respective period. See Note 9bLong-Term Debt. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[2] | The Company realized an increase in revenue and operating expenses beginning May 16, 2014 as a result of the acquisition of Geo. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[3] | The Company realized an increase in revenue and operating expenses beginning March 4, 2014 as a result of the acquisition of CoreXchange. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[4] | The Company realized an increase in revenue and operating expenses beginning October 1, 2013 as a result of the acquisition of Access. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[5] | The Company realized an increase in revenue and operating expenses beginning October 1, 2013 as a result of the acquisition of Fiberlink. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[6] | The Company realized an increase in revenue and operating expenses beginning August 1, 2013 as a result of the acquisition of Corelink. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[7] | The Company completed debt refinancing transactions during the first, second and third quarters of Fiscal 2013, resulting in a loss on debt extinguishment in each respective period. See Note 9 - Long-Term Debt. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[8] | The Company realized an increase in revenue and operating expenses beginning June 1, 2013 as a result of the acquisition of Core NAP. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[9] | The Company realized an increase in revenue and operating expenses beginning December 31, 2012 as a result of the acquisition of Litecast. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[10] | The Company realized an increase in revenue and operating expenses beginning October 1, 2012 as a result of the acquisition of USCarrier. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[11] | The Company realized an increase in revenue and operating expenses beginning December 14, 2012 as a result of the acquisition of First Telecom. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[12] | The Company realized an increase in revenue and operating expenses beginning August 31, 2012 as a result of the acquisition of FiberGate. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[13] | The Company realized a decrease in interest expense during the second and third quarters of 2013 due to financing transactions completed to lower its interest rates on its variable rate debt. During the fourth quarter of 2013, favorable movements in interest rates increased the fair value of the Company's interest rate swaps, resulting in a decrease in the Company's interest expense - see Note 9 - Long-Term Debt. |
LongTerm_Debt_Summary_of_LongT
Long-Term Debt (Summary of Long-Term Debt) (Details) (USD $) | Jun. 30, 2014 | 16-May-14 | Apr. 30, 2014 | Mar. 31, 2014 | Jun. 30, 2013 |
In Thousands, unless otherwise specified | |||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' |
Term Loan Facility due 2019 | $3,260,776 | ' | ' | ' | $2,853,800 |
Unamortized discount on senior Secured Term Loan due 2019 | -20,653 | ' | ' | ' | -23,095 |
Carrying value of debt | 3,240,123 | 2,015,900 | 1,740,900 | 1,749,750 | 2,830,705 |
Less current portion | -20,450 | ' | ' | ' | -16,200 |
Long-term debt, less current portion | 3,219,673 | ' | ' | ' | 2,814,505 |
Credit Facility [Member] | Term Loan Facility due 2019 [Member] | ' | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' | ' |
Term Loan Facility due 2019 | 2,010,776 | ' | ' | ' | 1,603,800 |
Secured Debt [Member] | 8.125% Senior Secured First Priority Notes due 2020 [Member] | ' | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' | ' |
Term Loan Facility due 2019 | 750,000 | ' | ' | ' | 750,000 |
Unsecured Debt [Member] | 10.125% Senior Unsecured Notes due 2020 [Member] | ' | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' | ' |
Term Loan Facility due 2019 | $500,000 | ' | ' | ' | $500,000 |
LongTerm_Debt_Schedule_of_Fixe
Long-Term Debt (Schedule of Fixed-Charge Coverage Ratio) (Details) | Jun. 30, 2014 |
Fiscal Quarter Ending March 31, 2013 [Member] | ' |
Schedule of Debt Covenants [Line Items] | ' |
Fixed-Charge Coverage Ratio | 1.5 |
Fiscal Quarter Ending June 30, 2013 [Member] | ' |
Schedule of Debt Covenants [Line Items] | ' |
Fixed-Charge Coverage Ratio | 1.5 |
Fiscal Quarter Ending December 31, 2013 [Member] | ' |
Schedule of Debt Covenants [Line Items] | ' |
Fixed-Charge Coverage Ratio | 1.75 |
Fiscal Quarter Ending March 31, 2014 [Member] | ' |
Schedule of Debt Covenants [Line Items] | ' |
Fixed-Charge Coverage Ratio | 1.75 |
Fiscal Quarter Ending June 30, 2014 [Member] | ' |
Schedule of Debt Covenants [Line Items] | ' |
Fixed-Charge Coverage Ratio | 1.75 |
Fiscal Quarter Ending September 30, 2014 [Member] | ' |
Schedule of Debt Covenants [Line Items] | ' |
Fixed-Charge Coverage Ratio | 2 |
Fiscal Quarter Ending December 31, 2014 [Member] | ' |
Schedule of Debt Covenants [Line Items] | ' |
Fixed-Charge Coverage Ratio | 2 |
Fiscal Quarter Ending March 31, 2015 [Member] | ' |
Schedule of Debt Covenants [Line Items] | ' |
Fixed-Charge Coverage Ratio | 2 |
Fiscal Quarter Ending June 30, 2015 [Member] | ' |
Schedule of Debt Covenants [Line Items] | ' |
Fixed-Charge Coverage Ratio | 2.25 |
Fiscal Quarter Ending September 30, 2015 [Member] | ' |
Schedule of Debt Covenants [Line Items] | ' |
Fixed-Charge Coverage Ratio | 2.25 |
Fiscal Quarter Ending December 31, 2015 [Member] | ' |
Schedule of Debt Covenants [Line Items] | ' |
Fixed-Charge Coverage Ratio | 2.25 |
Fiscal Quarter Ending March 31, 2016 [Member] | ' |
Schedule of Debt Covenants [Line Items] | ' |
Fixed-Charge Coverage Ratio | 2.5 |
Fiscal Quarter Ending June 30, 2016 [Member] | ' |
Schedule of Debt Covenants [Line Items] | ' |
Fixed-Charge Coverage Ratio | 2.5 |
Fiscal Quarter Ending September 30, 2016 [Member] | ' |
Schedule of Debt Covenants [Line Items] | ' |
Fixed-Charge Coverage Ratio | 2.5 |
Fiscal Quarter Ending December 31, 2016 and thereafter [Member] | ' |
Schedule of Debt Covenants [Line Items] | ' |
Fixed-Charge Coverage Ratio | 2.75 |
LongTerm_Debt_Schedule_of_Debt
Long-Term Debt (Schedule of Debt Instrument Redemption Price) (Details) | 12 Months Ended |
Jun. 30, 2014 | |
Senior Secured Notes - Original Notes [Member] | Debt Instrument, Redemption, Period One [Member] | ' |
Debt Instrument [Line Items] | ' |
Redemption Price | 100.00% |
Senior Secured Notes - Original Notes [Member] | Debt Instrument, Redemption, Period Two [Member] | ' |
Debt Instrument [Line Items] | ' |
Redemption Price | 104.06% |
Senior Secured Notes - Original Notes [Member] | Debt Instrument, Redemption, Period Three [Member] | ' |
Debt Instrument [Line Items] | ' |
Redemption Price | 102.03% |
Senior Secured Notes - Original Notes [Member] | Debt Instrument, Redemption, Period Four [Member] | ' |
Debt Instrument [Line Items] | ' |
Redemption Price | 100.00% |
Senior Unsecured Notes [Member] | Debt Instrument, Redemption, Period One [Member] | ' |
Debt Instrument [Line Items] | ' |
Redemption Price | 100.00% |
Senior Unsecured Notes [Member] | Debt Instrument, Redemption, Period Two [Member] | ' |
Debt Instrument [Line Items] | ' |
Redemption Price | 105.06% |
Senior Unsecured Notes [Member] | Debt Instrument, Redemption, Period Three [Member] | ' |
Debt Instrument [Line Items] | ' |
Redemption Price | 102.53% |
Senior Unsecured Notes [Member] | Debt Instrument, Redemption, Period Four [Member] | ' |
Debt Instrument [Line Items] | ' |
Redemption Price | 100.00% |
LongTerm_Debt_Schedule_of_Futu
Long-Term Debt (Schedule of Future Contractual Maturities of Long-term Debt) (Details) (USD $) | Jun. 30, 2014 | Jun. 30, 2013 |
In Thousands, unless otherwise specified | ||
Debt Disclosure [Abstract] | ' | ' |
2014 | $20,450 | ' |
2015 | 20,450 | ' |
2016 | 20,450 | ' |
2017 | 20,450 | ' |
2018 | 20,450 | ' |
Thereafter | 3,158,526 | ' |
Total | $3,260,776 | $2,853,800 |
Income_Taxes_Narrative_Details
Income Taxes (Narrative) (Details) (USD $) | 12 Months Ended | |||||||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012 | Mar. 31, 2014 | Jun. 30, 2014 | Jun. 30, 2014 | Jul. 02, 2012 | Dec. 02, 2011 |
State [Member] | Foreign [Member] | AboveNet [Member] | 360networks [Member] | |||||
Net Operating Losses | ' | ' | ' | ' | ' | ' | ' | ' |
Deferred Tax Assets, Gross | $653,644 | $668,812 | ' | $59,756 | ' | ' | $469,110 | $89,431 |
Net operating loss carry forwards | 1,073,920 | ' | ' | ' | 37,854 | 20,714 | ' | ' |
Net Operating Loss Expected Annual Utilization | 297,965 | ' | ' | ' | ' | ' | ' | ' |
Current annual net operating loss usage | 613,971 | ' | ' | ' | ' | ' | ' | ' |
Net Operating Loss Carryforward, Amount Available Next Fiscal Year | 192,734 | ' | ' | ' | ' | ' | ' | ' |
State NOL adjustment | 0 | 2,788 | 0 | ' | ' | ' | ' | ' |
Release of accrual for uncertain tax position | $2,600 | ' | ' | ' | ' | ' | ' | ' |
Income_Taxes_Schedule_Of_Provi
Income Taxes (Schedule Of Provision For Income Tax) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||||||||||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012 | ||||||||
Income Tax Disclosure [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Federal income taxes b current | ' | ' | ' | ' | ' | ' | ' | ' | $6,155 | $0 | ($625) | ||||||||
Federal income taxes b deferred | ' | ' | ' | ' | ' | ' | ' | ' | 24,287 | -25,598 | 22,206 | ||||||||
Provision for federal income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 30,442 | -25,598 | 21,581 | ||||||||
State income taxes b current | ' | ' | ' | ' | ' | ' | ' | ' | 3,642 | 1,661 | -945 | ||||||||
State income taxes b deferred | ' | ' | ' | ' | ' | ' | ' | ' | 1,042 | -3,649 | 8,921 | ||||||||
Provision for state income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 4,684 | -1,988 | 7,976 | ||||||||
Foreign income taxes- current | ' | ' | ' | ' | ' | ' | ' | ' | 3,336 | 0 | 0 | ||||||||
Foreign income taxes deferred | ' | ' | ' | ' | ' | ' | ' | ' | -613 | 3,540 | 0 | ||||||||
Provision for foreign income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 2,723 | 3,540 | 0 | ||||||||
(Benefit)/provision for income taxes | $10,291 | [1] | $11,327 | [2] | $7,697 | [3],[4] | $8,534 | [5] | $9,461 | [6] | $6,519 | [7] | ($3,438) | [8],[9] | ($36,588) | [10] | $37,849 | ($24,046) | $29,557 |
[1] | The Company realized an increase in revenue and operating expenses beginning May 16, 2014 as a result of the acquisition of Geo. | ||||||||||||||||||
[2] | The Company realized an increase in revenue and operating expenses beginning March 4, 2014 as a result of the acquisition of CoreXchange. | ||||||||||||||||||
[3] | The Company realized an increase in revenue and operating expenses beginning October 1, 2013 as a result of the acquisition of Access. | ||||||||||||||||||
[4] | The Company realized an increase in revenue and operating expenses beginning October 1, 2013 as a result of the acquisition of Fiberlink. | ||||||||||||||||||
[5] | The Company realized an increase in revenue and operating expenses beginning August 1, 2013 as a result of the acquisition of Corelink. | ||||||||||||||||||
[6] | The Company realized an increase in revenue and operating expenses beginning June 1, 2013 as a result of the acquisition of Core NAP. | ||||||||||||||||||
[7] | The Company realized an increase in revenue and operating expenses beginning December 31, 2012 as a result of the acquisition of Litecast. | ||||||||||||||||||
[8] | The Company realized an increase in revenue and operating expenses beginning October 1, 2012 as a result of the acquisition of USCarrier. | ||||||||||||||||||
[9] | The Company realized an increase in revenue and operating expenses beginning December 14, 2012 as a result of the acquisition of First Telecom. | ||||||||||||||||||
[10] | The Company realized an increase in revenue and operating expenses beginning August 31, 2012 as a result of the acquisition of FiberGate. |
Income_Taxes_IncomeLoss_from_C
Income Taxes (Income/(Loss) from Continuing Operations Before Income Tax) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||||||||||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012 | ||||||||
Income (Loss) from Continuing Operations Before Income Taxes | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
United States | ' | ' | ' | ' | ' | ' | ' | ' | ($9,048) | $15,840 | $0 | ||||||||
Foreign | ' | ' | ' | ' | ' | ' | ' | ' | -133,580 | -184,451 | 23,708 | ||||||||
(Loss)/earnings from continuing operations before provision for income taxes | ($61,885) | [1] | ($32,727) | [2] | ($28,618) | [3],[4] | ($19,398) | [5] | ($14,925) | [6] | ($12,024) | [7] | ($37,680) | [8],[9] | ($103,982) | [10] | ($142,628) | ($168,611) | $23,708 |
[1] | The Company realized an increase in revenue and operating expenses beginning May 16, 2014 as a result of the acquisition of Geo. | ||||||||||||||||||
[2] | The Company realized an increase in revenue and operating expenses beginning March 4, 2014 as a result of the acquisition of CoreXchange. | ||||||||||||||||||
[3] | The Company realized an increase in revenue and operating expenses beginning October 1, 2013 as a result of the acquisition of Access. | ||||||||||||||||||
[4] | The Company realized an increase in revenue and operating expenses beginning October 1, 2013 as a result of the acquisition of Fiberlink. | ||||||||||||||||||
[5] | The Company realized an increase in revenue and operating expenses beginning August 1, 2013 as a result of the acquisition of Corelink. | ||||||||||||||||||
[6] | The Company realized an increase in revenue and operating expenses beginning June 1, 2013 as a result of the acquisition of Core NAP. | ||||||||||||||||||
[7] | The Company realized an increase in revenue and operating expenses beginning December 31, 2012 as a result of the acquisition of Litecast. | ||||||||||||||||||
[8] | The Company realized an increase in revenue and operating expenses beginning October 1, 2012 as a result of the acquisition of USCarrier. | ||||||||||||||||||
[9] | The Company realized an increase in revenue and operating expenses beginning December 14, 2012 as a result of the acquisition of First Telecom. | ||||||||||||||||||
[10] | The Company realized an increase in revenue and operating expenses beginning August 31, 2012 as a result of the acquisition of FiberGate. |
Income_Taxes_Schedule_Of_Recon
Income Taxes (Schedule Of Reconciliation Of Income Tax Provision) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||||||||||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012 | ||||||||
Effective Income Tax Rate Reconciliation, Amount [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Expected provision at statutory rate | ' | ' | ' | ' | ' | ' | ' | ' | ($49,859) | ($59,046) | $8,298 | ||||||||
Non-deductible stock-based compensation | ' | ' | ' | ' | ' | ' | ' | ' | 96,342 | 35,576 | 8,685 | ||||||||
State income taxes, net of federal benefit | ' | ' | ' | ' | ' | ' | ' | ' | -6,519 | -2,201 | 5,184 | ||||||||
Transactions costs not deductible for tax purposes | ' | ' | ' | ' | ' | ' | ' | ' | 759 | 1,257 | 1,416 | ||||||||
Provision for uncertain tax positions, net | ' | ' | ' | ' | ' | ' | ' | ' | -2,600 | 0 | 5,808 | ||||||||
State NOL adjustment | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 2,788 | 0 | ||||||||
Change in effective tax rate | ' | ' | ' | ' | ' | ' | ' | ' | -286 | 0 | 459 | ||||||||
Change in valuation allowance | ' | ' | ' | ' | ' | ' | ' | ' | 1,284 | 0 | 0 | ||||||||
Foreign tax rate differential | ' | ' | ' | ' | ' | ' | ' | ' | 991 | -2,264 | 0 | ||||||||
Other, net | ' | ' | ' | ' | ' | ' | ' | ' | -2,263 | -156 | -293 | ||||||||
(Benefit)/provision for income taxes | $10,291 | [1] | $11,327 | [2] | $7,697 | [3],[4] | $8,534 | [5] | $9,461 | [6] | $6,519 | [7] | ($3,438) | [8],[9] | ($36,588) | [10] | $37,849 | ($24,046) | $29,557 |
[1] | The Company realized an increase in revenue and operating expenses beginning May 16, 2014 as a result of the acquisition of Geo. | ||||||||||||||||||
[2] | The Company realized an increase in revenue and operating expenses beginning March 4, 2014 as a result of the acquisition of CoreXchange. | ||||||||||||||||||
[3] | The Company realized an increase in revenue and operating expenses beginning October 1, 2013 as a result of the acquisition of Access. | ||||||||||||||||||
[4] | The Company realized an increase in revenue and operating expenses beginning October 1, 2013 as a result of the acquisition of Fiberlink. | ||||||||||||||||||
[5] | The Company realized an increase in revenue and operating expenses beginning August 1, 2013 as a result of the acquisition of Corelink. | ||||||||||||||||||
[6] | The Company realized an increase in revenue and operating expenses beginning June 1, 2013 as a result of the acquisition of Core NAP. | ||||||||||||||||||
[7] | The Company realized an increase in revenue and operating expenses beginning December 31, 2012 as a result of the acquisition of Litecast. | ||||||||||||||||||
[8] | The Company realized an increase in revenue and operating expenses beginning October 1, 2012 as a result of the acquisition of USCarrier. | ||||||||||||||||||
[9] | The Company realized an increase in revenue and operating expenses beginning December 14, 2012 as a result of the acquisition of First Telecom. | ||||||||||||||||||
[10] | The Company realized an increase in revenue and operating expenses beginning August 31, 2012 as a result of the acquisition of FiberGate. |
Income_Taxes_Schedule_of_Defer
Income Taxes (Schedule of Deferred Tax Assets and Liabilities) (Details) (USD $) | Jun. 30, 2014 | Mar. 31, 2014 | Jun. 30, 2013 |
In Thousands, unless otherwise specified | |||
Deferred income tax assets | ' | ' | ' |
Net operating loss carry forwards | $418,157 | ' | $533,558 |
Alternate minimum tax credit carryforwards | 6,175 | ' | 181 |
Deferred revenue | 191,220 | ' | 99,241 |
Accrued expenses | 22,176 | ' | 19,573 |
Other liabilities | 4,367 | ' | 5,108 |
Allowance for doubtful accounts | 6,261 | ' | 3,203 |
Short-term lease impairment | 3,212 | ' | 4,017 |
Other | 2,076 | ' | 3,931 |
Total deferred income tax assets | 653,644 | 59,756 | 668,812 |
Valuation allowance | -2,174 | ' | 0 |
Net deferred tax assets | 651,470 | ' | 668,812 |
Deferred income tax liabilities | ' | ' | ' |
Property and equipment | 374,391 | ' | 331,511 |
Intangible assets | 230,697 | ' | 220,551 |
Debt Issuance Costs | 27,261 | ' | 31,674 |
Total deferred income tax liabilities | 632,349 | ' | 583,736 |
Net deferred income tax asset | $19,121 | ' | $85,076 |
Income_Taxes_Schedule_of_Unrec
Income Taxes (Schedule of Unrecognized Tax Benefits Rollforward) (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 |
Income Tax Disclosure [Abstract] | ' | ' |
Beginning balance | $6,416 | $6,416 |
Decreases | -6,416 | 0 |
Ending balance | $0 | $6,416 |
Accrued_Liabilities_Schedule_o
Accrued Liabilities (Schedule of Accrued Liabilities) (Details) (USD $) | Jun. 30, 2014 | Jun. 30, 2013 |
In Thousands, unless otherwise specified | ||
Accrued Liabilities [Abstract] | ' | ' |
Accrued compensation and benefits | $12,884 | $10,357 |
Accrued property and equipment purchases | 46,150 | 26,301 |
Network expense accruals | 70,157 | 46,704 |
Other accrued taxes | 9,307 | 11,095 |
Deferred lease obligations | 2,287 | 2,709 |
Accrued professional fees | 3,806 | 2,547 |
Other accruals | 13,925 | 16,219 |
Total | $158,516 | $115,932 |
Equity_Details
Equity (Details) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | ||||||||
In Thousands, except Share data, unless otherwise specified | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012 | Aug. 01, 2013 | Jun. 30, 2013 | Jun. 30, 2012 | Jun. 30, 2013 | Jun. 30, 2012 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012 | Jun. 30, 2012 |
Other Colocation Acquisition [Member] | Common Unit Holders [Member] | Common Unit Holders [Member] | CII [Member] | CII [Member] | CII [Member] | CII [Member] | CII [Member] | CII [Member] | |||||||
Class C Preferred Units [Member] | |||||||||||||||
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Equity contributions | ' | ' | ' | $5,605 | $345,013 | $134,796 | ' | ' | ' | ' | ' | $5,605 | $345,013 | $134,796 | ' |
Preferred units sold | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 98,916,060,110 |
Costs associated with raising additional equity | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,976 |
Proceeds from equity contributed to parent | ' | ' | ' | ' | ' | 470,274 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash distribution made to the company | ' | ' | ' | ' | ' | ' | ' | ' | ' | 337,124 | 133,150 | ' | ' | ' | ' |
Non-liquidating distribution to common unit holders made by CII on behalf of the Company | 3,000 | 10,000 | 10,000 | 0 | 0 | 9,080 | ' | 9,080 | 9,080 | ' | ' | ' | ' | ' | ' |
Cash Settlements With Parent Net | ' | ' | 1,203 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Non-cash settlements with Parent, net | ' | 1,203 | ' | -6,046 | -4,111 | 21,219 | ' | ' | ' | ' | ' | ' | ' | 15,541 | ' |
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | ' | ' | ' | ' | ' | ' | 301,949 | ' | ' | ' | ' | ' | ' | ' | ' |
Business Acquisition, Equity Interest Issued or Issuable, Value Assigned | ' | ' | ' | ' | ' | ' | 1,637 | ' | ' | ' | ' | ' | ' | ' | ' |
Non Liquidating Distribution to Common Unit Holders Made By Parent On Behalf Of The Company | ' | 8,797 | 8,797 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Member's equity decrease during the year | ' | ' | ' | $6,066 | $4,217 | $3,402 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
StockBased_Compensation_Narrat
Stock-Based Compensation (Narrative) (Details) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||||||||||||||||
In Thousands, except Share data, unless otherwise specified | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Mar. 31, 2014 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012 | ||||||||
Common Stock, Capital Shares Reserved for Future Issuance | 72,487,662 | ' | ' | ' | ' | ' | ' | ' | ' | 72,487,662 | ' | ' | ||||||||
Stock-based compensation liability | $391,305 | ' | ' | ' | $158,520 | ' | ' | ' | ' | $391,305 | $158,520 | ' | ||||||||
Stock-based compensation | ' | ' | ' | ' | ' | ' | ' | ' | ' | 253,361 | 105,048 | 26,253 | ||||||||
Stock-based compensation expense | 89,027 | [1] | 64,964 | [2] | 56,686 | [3],[4] | 42,684 | [5] | 37,669 | [6] | 23,453 | [7] | 33,445 | [8],[9] | 10,481 | [10] | ' | 253,361 | 105,048 | 26,253 |
Authorized non-liquidating cash distribution | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7,000 | ' | ||||||||
Percentage of original distribution based on early distribution | ' | ' | 90.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Non-liquidating distribution to common unit holders made by CII on behalf of the Company | ' | 3,000 | 10,000 | ' | ' | ' | ' | ' | 10,000 | 0 | 0 | 9,080 | ||||||||
Non Cash Settlements With Parent Net | ' | ' | 1,203 | ' | ' | ' | ' | ' | ' | -6,046 | -4,111 | 21,219 | ||||||||
Amount forfeited by unit holders resulting from early distribution | ' | ' | 977 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Preferred stock-based compensation | ' | ' | ' | ' | ' | ' | ' | ' | ' | 431 | 853 | 871 | ||||||||
Preferred units forfeited | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10,904,780 | 22,056,857 | 4,178,949 | ||||||||
Vesting period | ' | ' | ' | ' | ' | ' | ' | ' | ' | '3 years | ' | ' | ||||||||
Percentage Forfeited by Unit Holders Resulting From Early Distributions | ' | ' | ' | ' | ' | ' | ' | ' | 10.00% | ' | ' | ' | ||||||||
Non Liquidating Distribution to Common Unit Holders Made By Parent On Behalf Of The Company | ' | ' | 8,797 | ' | ' | ' | ' | ' | 8,797 | ' | ' | ' | ||||||||
Minimum [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Vesting period | ' | ' | ' | ' | ' | ' | ' | ' | ' | '3 years | ' | ' | ||||||||
Maximum [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Vesting period | ' | ' | ' | ' | ' | ' | ' | ' | ' | '4 years | ' | ' | ||||||||
Common Units [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Stock-based compensation liability | 391,305 | ' | ' | ' | 158,520 | ' | ' | ' | ' | 391,305 | 158,520 | ' | ||||||||
Stock-based compensation | ' | ' | ' | ' | ' | ' | ' | ' | ' | 252,930 | 104,195 | 25,382 | ||||||||
Common units un-vested and outstanding | 246,698,192 | ' | ' | ' | 271,035,055 | ' | ' | ' | ' | 246,698,192 | 271,035,055 | ' | ||||||||
Common Units [Member] | Employees and Independent Directors [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Common units un-vested and outstanding | 143,339,000 | ' | ' | ' | ' | ' | ' | ' | ' | 143,339,000 | ' | ' | ||||||||
Common Unit Holders [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Authorized non-liquidating cash distribution | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10,000 | ' | ||||||||
Percentage of original distribution based on early distribution | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 85.00% | ' | ||||||||
Discount on early distributions | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 15.00% | ' | ||||||||
Non-liquidating distribution to common unit holders made by CII on behalf of the Company | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 9,080 | 9,080 | ||||||||
Amount forfeited by unit holders resulting from early distribution | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,615 | ' | ||||||||
Common Unit Holders [Member] | Minimum [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Proceeds from liquidation percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | 15.00% | ' | ' | ||||||||
Common Unit Holders [Member] | Maximum [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Proceeds from liquidation percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | 20.00% | ' | ' | ||||||||
Preferred Unit Holders [Member] | Minimum [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Proceeds from liquidation percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | 80.00% | ' | ' | ||||||||
Preferred Unit Holders [Member] | Maximum [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Proceeds from liquidation percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | 85.00% | ' | ' | ||||||||
CII [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Shares authorized | 625,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | 625,000,000 | ' | ' | ||||||||
Common units outstanding | 552,512,338 | ' | ' | ' | 461,204,980 | ' | ' | ' | ' | 552,512,338 | 461,204,980 | 169,083,792 | ||||||||
Maximum incremental allocation of proceeds | ' | ' | ' | ' | ' | ' | ' | ' | ' | 20.00% | ' | ' | ||||||||
Non Cash Settlements With Parent Net | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $15,541 | ||||||||
CII [Member] | Preferred Unit Holders [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Reimbursement return | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6.00% | ' | ' | ||||||||
Return multiple realized | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3.5 | ' | ' | ||||||||
[1] | The Company realized an increase in revenue and operating expenses beginning May 16, 2014 as a result of the acquisition of Geo. | |||||||||||||||||||
[2] | The Company realized an increase in revenue and operating expenses beginning March 4, 2014 as a result of the acquisition of CoreXchange. | |||||||||||||||||||
[3] | The Company realized an increase in revenue and operating expenses beginning October 1, 2013 as a result of the acquisition of Access. | |||||||||||||||||||
[4] | The Company realized an increase in revenue and operating expenses beginning October 1, 2013 as a result of the acquisition of Fiberlink. | |||||||||||||||||||
[5] | The Company realized an increase in revenue and operating expenses beginning August 1, 2013 as a result of the acquisition of Corelink. | |||||||||||||||||||
[6] | The Company realized an increase in revenue and operating expenses beginning June 1, 2013 as a result of the acquisition of Core NAP. | |||||||||||||||||||
[7] | The Company realized an increase in revenue and operating expenses beginning December 31, 2012 as a result of the acquisition of Litecast. | |||||||||||||||||||
[8] | The Company realized an increase in revenue and operating expenses beginning October 1, 2012 as a result of the acquisition of USCarrier. | |||||||||||||||||||
[9] | The Company realized an increase in revenue and operating expenses beginning December 14, 2012 as a result of the acquisition of First Telecom. | |||||||||||||||||||
[10] | The Company realized an increase in revenue and operating expenses beginning August 31, 2012 as a result of the acquisition of FiberGate. |
StockBased_Compensation_Schedu
Stock-Based Compensation (Schedule Of Estimated Fair Value Of Common Units) (Details) (USD $) | Jun. 30, 2014 | Jun. 30, 2013 |
Class A [Member] | ' | ' |
Estimated Fair Value Of Common Unit Class | $2.47 | $1.50 |
Class B [Member] | ' | ' |
Estimated Fair Value Of Common Unit Class | $2.22 | $1.34 |
Class C [Member] | ' | ' |
Estimated Fair Value Of Common Unit Class | $1.92 | $1.14 |
Class D [Member] | ' | ' |
Estimated Fair Value Of Common Unit Class | $1.86 | $1.10 |
Class E [Member] | ' | ' |
Estimated Fair Value Of Common Unit Class | $1.62 | $0.95 |
Class F [Member] | ' | ' |
Estimated Fair Value Of Common Unit Class | $1.44 | $0.75 |
Class G [Member] | ' | ' |
Estimated Fair Value Of Common Unit Class | $0.82 | $0.46 |
Class H [Member] | ' | ' |
Estimated Fair Value Of Common Unit Class | $0.70 | $0.38 |
Class I [Member] | ' | ' |
Estimated Fair Value Of Common Unit Class | $0.45 | ' |
Class J [Member] | ' | ' |
Estimated Fair Value Of Common Unit Class | $0.33 | ' |
Class K [Member] | ' | ' |
Estimated Fair Value Of Common Unit Class | $0.29 | ' |
StockBased_Compensation_Schedu1
Stock-Based Compensation (Schedule of Distributions due to a Liquidation Event) (Details) (USD $) | 12 Months Ended |
In Thousands, unless otherwise specified | Jun. 30, 2014 |
Class A [Member] | ' |
Schedule of Liquidation Event Distribution Thresholds [Line Items] | ' |
Liquidation distribution to previous unit holders required to share in liquidation distribution | $0 |
Class B [Member] | ' |
Schedule of Liquidation Event Distribution Thresholds [Line Items] | ' |
Liquidation distribution to previous unit holders required to share in liquidation distribution | 15,000 |
Class C [Member] | ' |
Schedule of Liquidation Event Distribution Thresholds [Line Items] | ' |
Liquidation distribution to previous unit holders required to share in liquidation distribution | 40,000 |
Class D [Member] | ' |
Schedule of Liquidation Event Distribution Thresholds [Line Items] | ' |
Liquidation distribution to previous unit holders required to share in liquidation distribution | 45,000 |
Class E [Member] | ' |
Schedule of Liquidation Event Distribution Thresholds [Line Items] | ' |
Liquidation distribution to previous unit holders required to share in liquidation distribution | 75,000 |
Class F [Member] | ' |
Schedule of Liquidation Event Distribution Thresholds [Line Items] | ' |
Liquidation distribution to previous unit holders required to share in liquidation distribution | 95,000 |
Class G [Member] | ' |
Schedule of Liquidation Event Distribution Thresholds [Line Items] | ' |
Liquidation distribution to previous unit holders required to share in liquidation distribution | 235,000 |
Class H [Member] | ' |
Schedule of Liquidation Event Distribution Thresholds [Line Items] | ' |
Liquidation distribution to previous unit holders required to share in liquidation distribution | 290,000 |
Class I [Member] | ' |
Schedule of Liquidation Event Distribution Thresholds [Line Items] | ' |
Liquidation distribution to previous unit holders required to share in liquidation distribution | 435,000 |
Class J [Member] | ' |
Schedule of Liquidation Event Distribution Thresholds [Line Items] | ' |
Liquidation distribution to previous unit holders required to share in liquidation distribution | 515,000 |
Class K [Member] | ' |
Schedule of Liquidation Event Distribution Thresholds [Line Items] | ' |
Liquidation distribution to previous unit holders required to share in liquidation distribution | $545,000 |
StockBased_Compensation_Schedu2
Stock-Based Compensation (Schedule of Common Units Issuances and Forfeitures (Details) | 12 Months Ended | |||
Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012 | Jun. 30, 2014 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Balance | 461,204,980 | 169,083,792 | 109,812,741 | 552,512,338 |
Common Units Vested | 305,814,146 | ' | ' | ' |
Common units issued | 114,721,044 | 314,178,045 | 63,450,000 | ' |
Common units forfeited | -10,904,780 | -22,056,857 | -4,178,949 | ' |
Class A [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Balance | 47,047,128 | 47,097,128 | 47,097,128 | 45,625,461 |
Common Units Vested | 45,625,461 | ' | ' | ' |
Common units issued | 0 | 0 | 0 | ' |
Common units forfeited | 0 | -50,000 | 0 | ' |
Balance | 0 | ' | ' | ' |
Class B [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Balance | 16,885,854 | 16,928,771 | 17,247,520 | 16,305,854 |
Common Units Vested | 16,305,854 | ' | ' | ' |
Common units issued | 0 | 0 | 0 | ' |
Common units forfeited | 0 | -42,917 | -318,749 | ' |
Balance | 0 | ' | ' | ' |
Class C [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Balance | 2,151,783 | 2,176,782 | 2,787,718 | 1,901,783 |
Common Units Vested | 1,901,783 | ' | ' | ' |
Common units issued | 0 | 0 | 0 | ' |
Common units forfeited | 0 | -24,999 | -610,936 | ' |
Balance | 0 | ' | ' | ' |
Class D [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Balance | 29,915,595 | 30,648,539 | 32,389,470 | 28,052,568 |
Common Units Vested | 28,052,568 | ' | ' | ' |
Common units issued | 0 | 0 | 0 | ' |
Common units forfeited | -23,000 | -732,944 | -1,740,931 | ' |
Balance | 0 | ' | ' | ' |
Class E [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Balance | 9,431,183 | 9,482,572 | 10,290,905 | 9,372,849 |
Common Units Vested | 9,372,849 | ' | ' | ' |
Common units issued | 0 | 0 | 0 | ' |
Common units forfeited | -58,334 | -51,389 | -808,333 | ' |
Balance | 0 | ' | ' | ' |
Class F [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Balance | 62,211,944 | 62,750,000 | 0 | 60,546,397 |
Common Units Vested | 46,975,841 | ' | ' | ' |
Common units issued | 0 | 2,500,000 | 63,450,000 | ' |
Common units forfeited | -365,547 | -3,038,056 | -700,000 | ' |
Balance | 13,570,556 | ' | ' | ' |
Class G [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Balance | 175,745,849 | 0 | 0 | 168,676,502 |
Common Units Vested | 108,632,421 | ' | ' | ' |
Common units issued | 0 | 192,747,213 | 0 | ' |
Common units forfeited | -4,756,655 | -17,001,364 | 0 | ' |
Balance | 60,044,081 | ' | ' | ' |
Class H [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Balance | 117,815,644 | 0 | 0 | 111,460,938 |
Common Units Vested | 48,947,369 | ' | ' | ' |
Common units issued | 598,822 | 118,930,832 | 0 | ' |
Common units forfeited | -3,755,033 | -1,115,188 | 0 | ' |
Balance | 62,513,569 | ' | ' | ' |
Class I [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Balance | 0 | 0 | 0 | 44,066,877 |
Common Units Vested | 0 | ' | ' | ' |
Common units issued | 46,107,213 | 0 | 0 | ' |
Common units forfeited | -1,258,739 | 0 | 0 | ' |
Balance | 44,066,877 | ' | ' | ' |
Class J [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Balance | 0 | 0 | 0 | 58,488,109 |
Common Units Vested | 0 | ' | ' | ' |
Common units issued | 60,000,009 | 0 | 0 | ' |
Common units forfeited | -687,472 | 0 | 0 | ' |
Balance | 58,488,109 | ' | ' | ' |
Class K [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Balance | 0 | 0 | 0 | 8,015,000 |
Common Units Vested | 0 | ' | ' | ' |
Common units issued | 8,015,000 | 0 | 0 | ' |
Common units forfeited | 0 | 0 | 0 | ' |
Balance | 8,015,000 | ' | ' | ' |
StockBased_Compensation_Schedu3
Stock-Based Compensation (Schedule of Common Units Vested) (Details) | 12 Months Ended |
Jun. 30, 2014 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Common Units Vested | 305,814,146 |
Class A [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Common Units Vested | 45,625,461 |
Common Units Un-vested and Outstanding | 0 |
Class B [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Common Units Vested | 16,305,854 |
Common Units Un-vested and Outstanding | 0 |
Class C [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Common Units Vested | 1,901,783 |
Common Units Un-vested and Outstanding | 0 |
Class D [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Common Units Vested | 28,052,568 |
Common Units Un-vested and Outstanding | 0 |
Class E [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Common Units Vested | 9,372,849 |
Common Units Un-vested and Outstanding | 0 |
Class F [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Common Units Vested | 46,975,841 |
Common Units Un-vested and Outstanding | 13,570,556 |
Class G [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Common Units Vested | 108,632,421 |
Common Units Un-vested and Outstanding | 60,044,081 |
Class H [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Common Units Vested | 48,947,369 |
Common Units Un-vested and Outstanding | 62,513,569 |
Fair_Value_Measurements_Narrat
Fair Value Measurements (Narrative) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||||||||||||||||||||
Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012 | |||||||||||||||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||
Fair Value Disclosures [Text Block] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||
FAIR VALUE MEASUREMENTS | |||||||||||||||||||||||||||||
The Company’s financial instruments consist of cash and cash equivalents, restricted cash, trade receivables, accounts payable, interest rate swaps, long-term debt and stock-based compensation liability. The carrying values of cash and cash equivalents, restricted cash, trade receivables, and accounts payable approximated their fair values at June 30, 2014 and 2013 due to the short maturity of these instruments. | |||||||||||||||||||||||||||||
The carrying value of the Company’s note obligations reflects the original amounts borrowed, net of unamortized discounts or premiums and was $1,250,000 and $1,250,000 as of June 30, 2014 and 2013, respectively. Based on market interest rates for debt of similar terms and average maturities, the fair value of the Company's notes as of June 30, 2014 and 2013 was estimated to be $1,294,750 and $1,364,375, respectively. The Company’s fair value estimates associated with its note obligations were derived utilizing Level 2 inputs – quoted prices for similar instruments in active markets. | |||||||||||||||||||||||||||||
The carrying value of the Company’s term loan obligations reflects the original amounts borrowed, net of the unamortized discount and was $1,990,123 and $1,580,705 as of June 30, 2014 and 2013, respectively. The Company’s term loan accrues interest at variable rates based upon the one month, three month or six month LIBOR (with a LIBOR floor of 1.00%) plus a spread of 3.0%. Since management does not believe that the Company’s credit quality has changed significantly since the date the amended Term Loan Facility was entered into and subsequently repriced in November 2013, its carrying amount approximates fair value. Without giving effect to the Company's interest rate swaps, a hypothetical increase in the applicable interest rate on the Company’s term loan of one percentage point above the 1.0% LIBOR floor would increase the Company’s annual interest expense by approximately $20,108. | |||||||||||||||||||||||||||||
The Company’s interest rate swaps are valued using discounted cash flow techniques that use observable market inputs, such as LIBOR-based yield curves, forward rates, and credit ratings. A change in the fair value of the interest rate swaps of $4,656 was recorded as an increase to interest expense during the year ended June 30, 2014. A hypothetical increase in LIBOR rates of 100 basis points would favorably increase the fair value of the interest rate swaps by approximately $15,234. | |||||||||||||||||||||||||||||
As of June 30, 2014 and 2013, there is no balance currently outstanding under the Company's current Revolver. | |||||||||||||||||||||||||||||
The Company records its interest rate swaps and stock-based compensation liability at their estimated fair value. Financial instruments measured at fair value on a recurring basis are summarized below: | |||||||||||||||||||||||||||||
Level | 30-Jun-14 | 30-Jun-13 | |||||||||||||||||||||||||||
Assets Recorded at Fair Value in the Financial Statements: | |||||||||||||||||||||||||||||
Interest rate swap | Level 2 | $ | — | 2,642 | |||||||||||||||||||||||||
Liabilities Recorded at Fair Value in the Financial Statements: | |||||||||||||||||||||||||||||
Interest rate swap | Level 2 | $ | 2,014 | $ | — | ||||||||||||||||||||||||
Stock-based compensation liability | Level 3 | $ | 391,305 | $ | 158,520 | ||||||||||||||||||||||||
The Company’s stock-based compensation liability related to CII common unit grants to employees is measured at fair value each reporting date. Various assumptions are utilized in the valuation that impact the resulting fair values calculated for each grant class, the most sensitive of which is the enterprise valuation multiple used under each exit scenario. An increase of 1.0x in these multiples would increase the corresponding stock-based compensation expense and liability by approximately $57,070 as of June 30, 2014. | |||||||||||||||||||||||||||||
Carrying value of the notes | $3,260,776,000 | ' | ' | ' | $2,853,800,000 | ' | ' | ' | $3,260,776,000 | $2,853,800,000 | ' | ||||||||||||||||||
Hypothetical annual interest expense | ' | ' | ' | ' | ' | ' | ' | ' | 20,108,000 | ' | ' | ||||||||||||||||||
Hypothetical increase to interest rate swap fair value | 15,234 | ' | ' | ' | ' | ' | ' | ' | 15,234 | ' | ' | ||||||||||||||||||
Interest expense | 52,603,000 | [1] | 49,131,000 | [2] | 50,277,000 | [3],[4] | 51,497,000 | [5] | 37,656,000 | [6],[7] | 49,618,000 | [6],[8] | 52,635,000 | [10],[6],[9] | 62,555,000 | [11],[6] | 203,508,000 | 202,464,000 | [6] | 50,720,000 | |||||||||
Interest Rate Swap [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||
Change in fair value of interest rate swap | ' | ' | ' | ' | ' | ' | ' | ' | 4,656,000 | ' | ' | ||||||||||||||||||
Interest Rate Swap [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||
Hypothetical interest rate increase | ' | ' | ' | ' | ' | ' | ' | ' | 100.00% | ' | ' | ||||||||||||||||||
Notes [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||
Carrying value of the notes | 1,250,000,000 | ' | ' | ' | 1,250,000,000 | ' | ' | ' | 1,250,000,000 | 1,250,000,000 | ' | ||||||||||||||||||
Fair value of the notes | 1,294,750,000 | ' | ' | ' | 1,364,375,000 | ' | ' | ' | 1,294,750,000 | 1,364,375,000 | ' | ||||||||||||||||||
Term Loan [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||
Carrying value of the notes | $1,990,123,000 | ' | ' | ' | $1,580,705,000 | ' | ' | ' | $1,990,123,000 | $1,580,705,000 | ' | ||||||||||||||||||
Floor rate | ' | ' | ' | ' | ' | ' | ' | ' | 1.00% | ' | ' | ||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage Rate Range, Maximum | ' | ' | ' | ' | ' | ' | ' | ' | 3.00% | ' | ' | ||||||||||||||||||
Hypothetical interest rate increase | ' | ' | ' | ' | ' | ' | ' | ' | 1.00% | ' | ' | ||||||||||||||||||
[1] | The Company realized an increase in revenue and operating expenses beginning May 16, 2014 as a result of the acquisition of Geo. | ||||||||||||||||||||||||||||
[2] | The Company realized an increase in revenue and operating expenses beginning March 4, 2014 as a result of the acquisition of CoreXchange. | ||||||||||||||||||||||||||||
[3] | The Company realized an increase in revenue and operating expenses beginning October 1, 2013 as a result of the acquisition of Access. | ||||||||||||||||||||||||||||
[4] | The Company realized an increase in revenue and operating expenses beginning October 1, 2013 as a result of the acquisition of Fiberlink. | ||||||||||||||||||||||||||||
[5] | The Company realized an increase in revenue and operating expenses beginning August 1, 2013 as a result of the acquisition of Corelink. | ||||||||||||||||||||||||||||
[6] | The Company realized a decrease in interest expense during the second and third quarters of 2013 due to financing transactions completed to lower its interest rates on its variable rate debt. During the fourth quarter of 2013, favorable movements in interest rates increased the fair value of the Company's interest rate swaps, resulting in a decrease in the Company's interest expense - see Note 9 - Long-Term Debt. | ||||||||||||||||||||||||||||
[7] | The Company realized an increase in revenue and operating expenses beginning June 1, 2013 as a result of the acquisition of Core NAP. | ||||||||||||||||||||||||||||
[8] | The Company realized an increase in revenue and operating expenses beginning December 31, 2012 as a result of the acquisition of Litecast. | ||||||||||||||||||||||||||||
[9] | The Company realized an increase in revenue and operating expenses beginning October 1, 2012 as a result of the acquisition of USCarrier. | ||||||||||||||||||||||||||||
[10] | The Company realized an increase in revenue and operating expenses beginning December 14, 2012 as a result of the acquisition of First Telecom. | ||||||||||||||||||||||||||||
[11] | The Company realized an increase in revenue and operating expenses beginning August 31, 2012 as a result of the acquisition of FiberGate. |
Fair_Value_Measurements_Schedu
Fair Value Measurements (Schedule Of Financial Instruments Measured At Fair Value On A Recurring Basis) (Details) (USD $) | Jun. 30, 2014 | Jun. 30, 2013 |
In Thousands, unless otherwise specified | ||
Level 2 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Interest rate swap | $0 | $2,642 |
Interest rate swap | 2,014 | 0 |
Level 3 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Stock-based compensation liability | $391,305 | $158,520 |
Commitments_and_Contingencies_1
Commitments and Contingencies (Narrative) (Details) (USD $) | 3 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | |||
In Thousands, unless otherwise specified | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012 | Feb. 28, 2010 | Jun. 30, 2014 | Jul. 31, 2010 | Jun. 30, 2014 | Sep. 30, 2011 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2013 | Jun. 30, 2014 |
Indiana Stimulus Project [Member] | Indiana Stimulus Project [Member] | Anoka Stimulus Project [Member] | Anoka Stimulus Project [Member] | GigE Plus Availability Coalition [Member] | GigE Plus Availability Coalition [Member] | Lease Termination [Member] | Lease Termination [Member] | Lease Termination [Member] | |||||
Commitments and Contingencies Disclosure [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Lease expense | ' | $83,488 | $87,090 | $45,885 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Purchase commitments | ' | 157,105 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Outstanding letters of credit | ' | 6,428 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-term Purchase Commitment [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Charge for lease termination costs | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10,360 | 10,360 | ' |
Benefit related to release of associated rent escalation accrual | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 163 | ' | ' |
Net lease termination charge | -10,197 | 0 | 10,197 | 0 | ' | ' | ' | ' | ' | ' | ' | 10,197 | ' |
Remaining lease obligation | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10,073 | 10,073 | 8,053 |
Expected sublease benefit on lease termination | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,952 | 2,952 | 2,254 |
Project funding by government grant | ' | ' | ' | ' | 25,100 | ' | 13,383 | ' | ' | ' | ' | ' | ' |
Project funding by Company | ' | ' | ' | ' | 6,285 | ' | 5,735 | ' | ' | ' | ' | ' | ' |
Capital expenditures | ' | 10,876 | 15,021 | 4,010 | 31,425 | ' | 19,117 | ' | ' | 476 | ' | ' | ' |
Reimbursed expenses | ' | ' | ' | ' | ' | 96 | ' | 121 | ' | ' | ' | ' | ' |
Reimbursed capital expenditures | ' | ' | ' | ' | ' | 23,786 | ' | 11,646 | ' | ' | ' | ' | ' |
Pre-existing network assets | ' | ' | ' | ' | ' | 4,400 | ' | ' | ' | ' | ' | ' | ' |
Estimated cost of project | ' | ' | ' | ' | ' | ' | ' | ' | 30,032 | ' | ' | ' | ' |
Maximum company contribution to project | ' | ' | ' | ' | ' | ' | ' | ' | $3,111 | ' | ' | ' | ' |
Percentage ownership of project and assets | ' | ' | ' | ' | ' | ' | ' | ' | 30.00% | ' | ' | ' | ' |
Commitments_and_Contingencies_2
Commitments and Contingencies (Schedule of Future Contractual Capital Lease Payments) (Details) (USD $) | Jun. 30, 2014 | Jun. 30, 2013 |
In Thousands, unless otherwise specified | ||
Commitments and Contingencies Disclosure [Abstract] | ' | ' |
2015 | $4,012 | ' |
2016 | 3,402 | ' |
2017 | 4,580 | ' |
2018 | 3,554 | ' |
2019 | 3,224 | ' |
Thereafter | 13,176 | ' |
Total minimum lease payments | 31,948 | ' |
Less amounts representing interest | -6,677 | ' |
Less current portion | -2,415 | -6,600 |
Capital lease obligations, non-current | $22,856 | $6,567 |
Commitments_and_Contingencies_3
Commitments and Contingencies (Schedule of Minimum Contractual Long-Term Operating Lease Payments) (Details) (USD $) | Jun. 30, 2014 |
In Thousands, unless otherwise specified | |
Commitments and Contingencies Disclosure [Abstract] | ' |
2015 | $96,492 |
2016 | 80,752 |
2017 | 68,355 |
2018 | 60,309 |
2019 | 50,293 |
Thereafter | 497,883 |
Total operating lease obligations | $854,084 |
Commitments_and_Contingencies_4
Commitments and Contingencies Commitments and Contingencies (Schedule of Lease Termination Liability) (Details) (USD $) | Jun. 30, 2012 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2014 |
In Thousands, unless otherwise specified | Lease Termination [Member] | Lease Termination [Member] | Lease Termination [Member] | Lease Termination [Member] | Lease Termination [Member] | |
Lease Termination Liability- Short Term [Member] | Lease Termination Liability- Long Term [Member] | |||||
Long-term Purchase Commitment [Line Items] | ' | ' | ' | ' | ' | ' |
Beginning balance | $0 | ' | $10,073 | ' | $1,707 | $6,346 |
Charges | ' | 10,360 | ' | 10,360 | ' | ' |
Change in assumption | ' | ' | -41 | ' | ' | ' |
Accretion | ' | ' | 89 | 3 | ' | ' |
Payments | ' | ' | -2,068 | -290 | ' | ' |
Ending balance | $0 | $10,073 | $8,053 | $10,073 | $1,707 | $6,346 |
RelatedParty_Transactions_Sche
Related-Party Transactions (Schedule of Transactions Recognized) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012 |
Onvoy | ' | ' | ' |
Related Party Transaction [Line Items] | ' | ' | ' |
Revenues | $7,029 | $6,639 | $6,467 |
Operating costs | -1,627 | -1,515 | -2,675 |
ZPS | ' | ' | ' |
Related Party Transaction [Line Items] | ' | ' | ' |
Revenues | 5,304 | 5,434 | 0 |
Operating costs | $0 | $0 | $0 |
RelatedParty_Transactions_Narr
Related-Party Transactions (Narrative) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012 |
Related Party Transaction [Line Items] | ' | ' | ' |
Interest paid | $175,349 | $143,518 | $43,964 |
Notes face amount | 100,000 | ' | ' |
CII [Member] | ' | ' | ' |
Related Party Transaction [Line Items] | ' | ' | ' |
Due to related-parties | ' | ' | 4,590 |
Interest paid | ' | 10,951 | ' |
Payable to related party settled | ' | 15,541 | ' |
Dan Caruso [Member] | ' | ' | ' |
Related Party Transaction [Line Items] | ' | ' | ' |
Purchase price of notes | 500 | ' | ' |
Purchase price of notes after considering premium and accrued interest | 516 | ' | ' |
Notes repurchased from related party | ' | ' | 541 |
Dan Caruso [Member] | Aircraft Reimbursement [Member] | ' | ' | ' |
Related Party Transaction [Line Items] | ' | ' | ' |
Payable to related party settled | 143 | ' | ' |
Matthew Erickson [Member] | ' | ' | ' |
Related Party Transaction [Line Items] | ' | ' | ' |
Purchase price of notes | $600 | ' | ' |
Segment_Reporting_Narrative_De
Segment Reporting (Narrative) (Details) | 12 Months Ended |
Jun. 30, 2014 | |
Segment | |
Segment Reporting Information [Line Items] | ' |
Number of reportable segments | 2 |
Physical Infrastructure [Member] | Minimum [Member] | ' |
Segment Reporting Information [Line Items] | ' |
Contract term | '3 years |
Physical Infrastructure [Member] | Maximum [Member] | ' |
Segment Reporting Information [Line Items] | ' |
Contract term | '20 years |
Lit Services [Member] | Minimum [Member] | ' |
Segment Reporting Information [Line Items] | ' |
Contract term | '2 years |
Lit Services [Member] | Maximum [Member] | ' |
Segment Reporting Information [Line Items] | ' |
Contract term | '5 years |
Segment_Reporting_Summary_Of_S
Segment Reporting (Summary Of Significant Financial Information) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||||||||||||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012 | ||||||||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||
Revenue | $290,928 | [1] | $278,038 | [2] | $273,599 | [3],[4] | $264,345 | [5] | $258,170 | [6] | $253,148 | [7] | $245,265 | [8],[9] | $231,502 | [10] | $1,106,910 | $988,085 | $382,043 | ||
Adjusted EBITDA | ' | ' | ' | ' | ' | ' | ' | ' | 652,329 | 552,982 | 194,520 | ||||||||||
Total assets | 5,004,587 | ' | ' | ' | 4,127,891 | ' | ' | ' | 5,004,587 | 4,127,891 | 1,372,104 | ||||||||||
Capital expenditures, net of stimulus grant reimbursements | ' | ' | ' | ' | ' | ' | ' | ' | 360,757 | 323,201 | 124,137 | ||||||||||
Reconciliations from Net Earnings (Loss) to Adjusted EBITDA [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||
Adjusted EBITDA | ' | ' | ' | ' | ' | ' | ' | ' | 652,329 | 552,982 | 194,520 | ||||||||||
Interest expense | -52,603 | [1] | -49,131 | [2] | -50,277 | [3],[4] | -51,497 | [5] | -37,656 | [11],[6] | -49,618 | [11],[7] | -52,635 | [11],[8],[9] | -62,555 | [10],[11] | -203,508 | -202,464 | [11] | -50,720 | |
Depreciation and amortization expense | -90,872 | [1] | -83,703 | [2] | -81,257 | [3],[4] | -80,575 | [5] | -80,191 | [6] | -79,473 | [7] | -83,467 | [8],[9] | -79,549 | [10] | -336,407 | -322,680 | -84,961 | ||
Transaction costs | ' | ' | ' | ' | ' | ' | ' | ' | -4,495 | -14,204 | -6,630 | ||||||||||
Impairment of cost method investment | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | -2,248 | ||||||||||
Stock-based compensation | -89,027 | [1] | -64,964 | [2] | -56,686 | [3],[4] | -42,684 | [5] | -37,669 | [6] | -23,453 | [7] | -33,445 | [8],[9] | -10,481 | [10] | -253,361 | -105,048 | -26,253 | ||
Loss on extinguishment of debt | 0 | [1],[12] | 0 | [12],[2] | -1,911 | [12],[3],[4] | 0 | [12],[5] | 0 | [13],[6] | -6,571 | [13],[7] | -5,707 | [13],[8],[9] | -64,975 | [10],[13] | -1,911 | [12] | -77,253 | [13] | 0 |
Unrealized foreign currency translation gain | ' | ' | ' | ' | ' | ' | ' | ' | 4,725 | 56 | 0 | ||||||||||
Net earnings/(loss) from continuing operations before provision for income taxes | -61,885 | [1] | -32,727 | [2] | -28,618 | [3],[4] | -19,398 | [5] | -14,925 | [6] | -12,024 | [7] | -37,680 | [8],[9] | -103,982 | [10] | -142,628 | -168,611 | 23,708 | ||
Physical Infrastructure [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||
Revenue | ' | ' | ' | ' | ' | ' | ' | ' | 498,235 | 416,277 | 157,419 | ||||||||||
Adjusted EBITDA | ' | ' | ' | ' | ' | ' | ' | ' | 325,646 | 276,188 | 101,060 | ||||||||||
Total assets | 2,851,766 | ' | ' | ' | 2,300,599 | ' | ' | ' | 2,851,766 | 2,300,599 | 611,777 | ||||||||||
Capital expenditures, net of stimulus grant reimbursements | ' | ' | ' | ' | ' | ' | ' | ' | 209,147 | 180,261 | 38,809 | ||||||||||
Reconciliations from Net Earnings (Loss) to Adjusted EBITDA [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||
Adjusted EBITDA | ' | ' | ' | ' | ' | ' | ' | ' | 325,646 | 276,188 | 101,060 | ||||||||||
Lit Services [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||
Revenue | ' | ' | ' | ' | ' | ' | ' | ' | 608,675 | 573,335 | 224,624 | ||||||||||
Adjusted EBITDA | ' | ' | ' | ' | ' | ' | ' | ' | 326,654 | 278,355 | 92,120 | ||||||||||
Total assets | 1,739,139 | ' | ' | ' | 1,685,510 | ' | ' | ' | 1,739,139 | 1,685,510 | 483,755 | ||||||||||
Capital expenditures, net of stimulus grant reimbursements | ' | ' | ' | ' | ' | ' | ' | ' | 151,610 | 142,940 | 85,328 | ||||||||||
Reconciliations from Net Earnings (Loss) to Adjusted EBITDA [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||
Adjusted EBITDA | ' | ' | ' | ' | ' | ' | ' | ' | 326,654 | 278,355 | 92,120 | ||||||||||
Corporate/eliminations [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||
Revenue | ' | ' | ' | ' | ' | ' | ' | ' | 0 | -1,527 | 0 | ||||||||||
Adjusted EBITDA | ' | ' | ' | ' | ' | ' | ' | ' | 29 | -1,561 | 1,340 | ||||||||||
Total assets | 413,682 | ' | ' | ' | 141,782 | ' | ' | ' | 413,682 | 141,782 | 276,572 | ||||||||||
Capital expenditures, net of stimulus grant reimbursements | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | ||||||||||
Reconciliations from Net Earnings (Loss) to Adjusted EBITDA [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||
Adjusted EBITDA | ' | ' | ' | ' | ' | ' | ' | ' | $29 | ($1,561) | $1,340 | ||||||||||
[1] | The Company realized an increase in revenue and operating expenses beginning May 16, 2014 as a result of the acquisition of Geo. | ||||||||||||||||||||
[2] | The Company realized an increase in revenue and operating expenses beginning March 4, 2014 as a result of the acquisition of CoreXchange. | ||||||||||||||||||||
[3] | The Company realized an increase in revenue and operating expenses beginning October 1, 2013 as a result of the acquisition of Access. | ||||||||||||||||||||
[4] | The Company realized an increase in revenue and operating expenses beginning October 1, 2013 as a result of the acquisition of Fiberlink. | ||||||||||||||||||||
[5] | The Company realized an increase in revenue and operating expenses beginning August 1, 2013 as a result of the acquisition of Corelink. | ||||||||||||||||||||
[6] | The Company realized an increase in revenue and operating expenses beginning June 1, 2013 as a result of the acquisition of Core NAP. | ||||||||||||||||||||
[7] | The Company realized an increase in revenue and operating expenses beginning December 31, 2012 as a result of the acquisition of Litecast. | ||||||||||||||||||||
[8] | The Company realized an increase in revenue and operating expenses beginning October 1, 2012 as a result of the acquisition of USCarrier. | ||||||||||||||||||||
[9] | The Company realized an increase in revenue and operating expenses beginning December 14, 2012 as a result of the acquisition of First Telecom. | ||||||||||||||||||||
[10] | The Company realized an increase in revenue and operating expenses beginning August 31, 2012 as a result of the acquisition of FiberGate. | ||||||||||||||||||||
[11] | The Company realized a decrease in interest expense during the second and third quarters of 2013 due to financing transactions completed to lower its interest rates on its variable rate debt. During the fourth quarter of 2013, favorable movements in interest rates increased the fair value of the Company's interest rate swaps, resulting in a decrease in the Company's interest expense - see Note 9 - Long-Term Debt. | ||||||||||||||||||||
[12] | The Company completed a debt refinancing transaction during the second quarter of Fiscal 2014, resulting in a loss on debt extinguishment for that respective period. See Note 9bLong-Term Debt. | ||||||||||||||||||||
[13] | The Company completed debt refinancing transactions during the first, second and third quarters of Fiscal 2013, resulting in a loss on debt extinguishment in each respective period. See Note 9 - Long-Term Debt. |
Segment_Reporting_Schedule_of_
Segment Reporting (Schedule of Geographical Information (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||||||||||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012 | ||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Revenue | $290,928 | [1] | $278,038 | [2] | $273,599 | [3],[4] | $264,345 | [5] | $258,170 | [6] | $253,148 | [7] | $245,265 | [8],[9] | $231,502 | [10] | $1,106,910 | $988,085 | $382,043 |
Long-lived assets | 3,624,317 | ' | ' | ' | 3,176,140 | ' | ' | ' | 3,624,317 | 3,176,140 | 961,921 | ||||||||
United States [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Revenue | ' | ' | ' | ' | ' | ' | ' | ' | 1,036,501 | 930,233 | 382,043 | ||||||||
Long-lived assets | 3,135,253 | ' | ' | ' | 3,055,917 | ' | ' | ' | 3,135,253 | 3,055,917 | 961,921 | ||||||||
United Kingdom [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Revenue | ' | ' | ' | ' | ' | ' | ' | ' | 70,271 | 57,488 | 0 | ||||||||
Long-lived assets | 488,658 | ' | ' | ' | 120,221 | ' | ' | ' | 488,658 | 120,221 | ' | ||||||||
Japan [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||
Revenue | ' | ' | ' | ' | ' | ' | ' | ' | 138 | 364 | 0 | ||||||||
Long-lived assets | $406 | ' | ' | ' | $2 | ' | ' | ' | $406 | $2 | ' | ||||||||
[1] | The Company realized an increase in revenue and operating expenses beginning May 16, 2014 as a result of the acquisition of Geo. | ||||||||||||||||||
[2] | The Company realized an increase in revenue and operating expenses beginning March 4, 2014 as a result of the acquisition of CoreXchange. | ||||||||||||||||||
[3] | The Company realized an increase in revenue and operating expenses beginning October 1, 2013 as a result of the acquisition of Access. | ||||||||||||||||||
[4] | The Company realized an increase in revenue and operating expenses beginning October 1, 2013 as a result of the acquisition of Fiberlink. | ||||||||||||||||||
[5] | The Company realized an increase in revenue and operating expenses beginning August 1, 2013 as a result of the acquisition of Corelink. | ||||||||||||||||||
[6] | The Company realized an increase in revenue and operating expenses beginning June 1, 2013 as a result of the acquisition of Core NAP. | ||||||||||||||||||
[7] | The Company realized an increase in revenue and operating expenses beginning December 31, 2012 as a result of the acquisition of Litecast. | ||||||||||||||||||
[8] | The Company realized an increase in revenue and operating expenses beginning October 1, 2012 as a result of the acquisition of USCarrier. | ||||||||||||||||||
[9] | The Company realized an increase in revenue and operating expenses beginning December 14, 2012 as a result of the acquisition of First Telecom. | ||||||||||||||||||
[10] | The Company realized an increase in revenue and operating expenses beginning August 31, 2012 as a result of the acquisition of FiberGate. |
Condensed_Consolidating_Financ2
Condensed Consolidating Financial Information (Narrative) (Details) (USD $) | 12 Months Ended | 12 Months Ended | |||||||||||||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012 | Jul. 02, 2012 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012 | Jul. 02, 2012 | Jul. 02, 2012 |
Zayo Group, LLC [Member] | Zayo Group, LLC [Member] | Zayo Group, LLC [Member] | Zayo Capital Inc [Member] | Guarantor Subsidiaries [Member] | Guarantor Subsidiaries [Member] | Guarantor Subsidiaries [Member] | Other Non-Guarantor Subsidiaries [Member] | Other Non-Guarantor Subsidiaries [Member] | Other Non-Guarantor Subsidiaries [Member] | Senior Secured Notes [Member] | Senior Unsecured Notes [Member] | ||||
Condensed Consolidating Financial Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payments on revolving credit facility | ($195,000) | ' | ' | ($195,000) | ' | ' | ' | $0 | ' | ' | $0 | ' | ' | ' | ' |
Proceeds from issuance of long-term debt | 423,625 | 3,189,339 | 335,550 | 423,625 | 3,184,452 | 335,550 | ' | 0 | 4,887 | 0 | 0 | 0 | 0 | ' | ' |
Ownership percentage in subsidiary | ' | ' | 100.00% | ' | ' | ' | 100.00% | ' | ' | ' | ' | ' | ' | ' | ' |
Notes face amount | $100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $750,000 | $500,000 |
Condensed_Consolidating_Financ3
Condensed Consolidating Financial Information (Schedule Of Condensed Consolidating Balance Sheet) (Details) (USD $) | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012 | Jun. 30, 2011 |
In Thousands, unless otherwise specified | ||||
Cash and cash equivalents | $292,614 | $88,148 | $150,693 | $25,394 |
Trade receivables, net | 55,007 | 67,811 | ' | ' |
Due from related-parties | 852 | 622 | ' | ' |
Prepaid expenses | 25,484 | 19,188 | ' | ' |
Deferred income taxes | 157,452 | 90,356 | ' | ' |
Other assets, current | 2,399 | 2,851 | ' | ' |
Total current assets | 533,808 | 268,976 | ' | ' |
Property and equipment, net | 2,808,309 | 2,411,220 | ' | ' |
Intangible assets, net | 689,024 | 636,258 | ' | ' |
Goodwill | 846,462 | 682,775 | 193,803 | ' |
Debt issuance costs, net | 89,380 | 99,098 | ' | ' |
Deferred income taxes, net | 0 | 280 | ' | ' |
Other assets | 37,604 | 29,284 | ' | ' |
Related party receivable, long-term | 0 | 0 | ' | ' |
Investment in subsidiary | 0 | 0 | ' | ' |
Total assets | 5,004,587 | 4,127,891 | 1,372,104 | ' |
Current portion of long-term debt | 20,450 | 16,200 | ' | ' |
Accounts payable | 26,956 | 33,477 | ' | ' |
Accrued liabilities | 158,516 | 115,932 | ' | ' |
Accrued interest | 57,059 | 55,048 | ' | ' |
Capital lease obligations, current | 2,415 | 6,600 | ' | ' |
Due to related-parties | 0 | 0 | ' | ' |
Deferred revenue, current | 75,213 | 35,977 | ' | ' |
Total current liabilities | 340,609 | 263,234 | ' | ' |
Long-term debt, less current portion | 3,219,673 | 2,814,505 | ' | ' |
Related party debt, long-term | 0 | 0 | ' | ' |
Capital lease obligations, non-current | 22,856 | 6,567 | ' | ' |
Deferred revenue, non-current | 496,895 | 326,180 | ' | ' |
Deferred income taxes, net | 138,331 | 5,560 | ' | ' |
Stock-based compensation liability | 391,305 | 158,520 | ' | ' |
Other long-term liabilities | 22,327 | 19,892 | ' | ' |
Total liabilities | 4,631,996 | 3,594,458 | ' | ' |
Member's interest | 704,387 | 703,963 | ' | ' |
Accumulated other comprehensive loss | 14,456 | -4,755 | ' | ' |
(Accumulated deficit)/retained earnings | -346,252 | -165,775 | ' | ' |
Total member's equity | 372,591 | 533,433 | 365,849 | 228,264 |
Total liabilities and member's equity | 5,004,587 | 4,127,891 | ' | ' |
Zayo Group, LLC [Member] | ' | ' | ' | ' |
Cash and cash equivalents | 256,038 | 83,608 | 149,574 | 22,985 |
Trade receivables, net | 33,513 | 52,377 | ' | ' |
Due from related-parties | 1,011 | 2,113 | ' | ' |
Prepaid expenses | 18,834 | 14,768 | ' | ' |
Deferred income taxes | 155,977 | 90,356 | ' | ' |
Other assets, current | 1,928 | 2,843 | ' | ' |
Total current assets | 467,301 | 246,065 | ' | ' |
Property and equipment, net | 2,389,270 | 2,274,764 | ' | ' |
Intangible assets, net | 563,724 | 585,590 | ' | ' |
Goodwill | 683,461 | 620,812 | ' | ' |
Debt issuance costs, net | 89,380 | 99,098 | ' | ' |
Deferred income taxes, net | ' | 280 | ' | ' |
Other assets | 23,406 | 25,332 | ' | ' |
Related party receivable, long-term | 267,770 | 10,427 | ' | ' |
Investment in subsidiary | 303,703 | 216,224 | ' | ' |
Total assets | 4,788,015 | 4,078,592 | ' | ' |
Current portion of long-term debt | 20,450 | 16,200 | ' | ' |
Accounts payable | 20,654 | 30,319 | ' | ' |
Accrued liabilities | 125,135 | 103,780 | ' | ' |
Accrued interest | 57,059 | 55,048 | ' | ' |
Capital lease obligations, current | 1,562 | 1,493 | ' | ' |
Due to related-parties | 0 | 25 | ' | ' |
Deferred revenue, current | 56,723 | 33,170 | ' | ' |
Total current liabilities | 281,583 | 240,035 | ' | ' |
Long-term debt, less current portion | 3,219,673 | 2,814,505 | ' | ' |
Related party debt, long-term | 0 | 0 | ' | ' |
Capital lease obligations, non-current | 5,495 | 6,487 | ' | ' |
Deferred revenue, non-current | 459,452 | 318,188 | ' | ' |
Deferred income taxes, net | 92,996 | 0 | ' | ' |
Stock-based compensation liability | 343,849 | 154,435 | ' | ' |
Other long-term liabilities | 12,376 | 11,511 | ' | ' |
Total liabilities | 4,415,424 | 3,545,161 | ' | ' |
Member's interest | 753,506 | 736,439 | ' | ' |
Accumulated other comprehensive loss | 0 | 0 | ' | ' |
(Accumulated deficit)/retained earnings | -380,915 | -203,008 | ' | ' |
Total member's equity | 372,591 | 533,431 | ' | ' |
Total liabilities and member's equity | 4,788,015 | 4,078,592 | ' | ' |
Guarantor Subsidiaries [Member] | ' | ' | ' | ' |
Cash and cash equivalents | 1,013 | 1,009 | 1,119 | 2,409 |
Trade receivables, net | 6,044 | 4,284 | ' | ' |
Due from related-parties | 0 | 0 | ' | ' |
Prepaid expenses | 1,364 | 1,634 | ' | ' |
Deferred income taxes | 0 | 0 | ' | ' |
Other assets, current | 1 | 6 | ' | ' |
Total current assets | 8,422 | 6,933 | ' | ' |
Property and equipment, net | 95,209 | 48,673 | ' | ' |
Intangible assets, net | 29,756 | 18,695 | ' | ' |
Goodwill | 17,832 | 15,055 | ' | ' |
Debt issuance costs, net | 0 | 0 | ' | ' |
Deferred income taxes, net | ' | 0 | ' | ' |
Other assets | 3,347 | 3,130 | ' | ' |
Related party receivable, long-term | 0 | 0 | ' | ' |
Investment in subsidiary | 0 | 0 | ' | ' |
Total assets | 154,566 | 92,486 | ' | ' |
Current portion of long-term debt | 0 | 0 | ' | ' |
Accounts payable | 4,288 | 1,536 | ' | ' |
Accrued liabilities | 7,101 | 5,376 | ' | ' |
Accrued interest | 0 | 0 | ' | ' |
Capital lease obligations, current | 853 | 5,107 | ' | ' |
Due to related-parties | 0 | 0 | ' | ' |
Deferred revenue, current | 1,419 | 701 | ' | ' |
Total current liabilities | 13,661 | 12,720 | ' | ' |
Long-term debt, less current portion | 0 | 0 | ' | ' |
Related party debt, long-term | 0 | 0 | ' | ' |
Capital lease obligations, non-current | 15,628 | 80 | ' | ' |
Deferred revenue, non-current | 4,026 | 3,850 | ' | ' |
Deferred income taxes, net | 0 | 0 | ' | ' |
Stock-based compensation liability | 22,212 | 2,794 | ' | ' |
Other long-term liabilities | 9,810 | 8,311 | ' | ' |
Total liabilities | 65,337 | 27,755 | ' | ' |
Member's interest | 49,562 | 33,748 | ' | ' |
Accumulated other comprehensive loss | 0 | 0 | ' | ' |
(Accumulated deficit)/retained earnings | 39,667 | 30,983 | ' | ' |
Total member's equity | 89,229 | 64,731 | ' | ' |
Total liabilities and member's equity | 154,566 | 92,486 | ' | ' |
Other Non-Guarantor Subsidiaries [Member] | ' | ' | ' | ' |
Cash and cash equivalents | 35,563 | 3,531 | 0 | 0 |
Trade receivables, net | 15,450 | 11,150 | ' | ' |
Due from related-parties | 595 | -384 | ' | ' |
Prepaid expenses | 5,286 | 2,786 | ' | ' |
Deferred income taxes | 1,475 | 0 | ' | ' |
Other assets, current | 470 | 2 | ' | ' |
Total current assets | 58,839 | 17,085 | ' | ' |
Property and equipment, net | 323,830 | 87,783 | ' | ' |
Intangible assets, net | 95,544 | 31,973 | ' | ' |
Goodwill | 145,169 | 46,908 | ' | ' |
Debt issuance costs, net | 0 | 0 | ' | ' |
Deferred income taxes, net | ' | 0 | ' | ' |
Other assets | 10,851 | 822 | ' | ' |
Related party receivable, long-term | 0 | 0 | ' | ' |
Investment in subsidiary | 0 | 0 | ' | ' |
Total assets | 634,233 | 184,571 | ' | ' |
Current portion of long-term debt | 0 | 0 | ' | ' |
Accounts payable | 2,014 | 1,622 | ' | ' |
Accrued liabilities | 26,280 | 6,776 | ' | ' |
Accrued interest | 0 | 0 | ' | ' |
Capital lease obligations, current | 0 | 0 | ' | ' |
Due to related-parties | 754 | 1,082 | ' | ' |
Deferred revenue, current | 17,071 | 2,106 | ' | ' |
Total current liabilities | 46,119 | 11,586 | ' | ' |
Long-term debt, less current portion | 0 | 0 | ' | ' |
Related party debt, long-term | 267,770 | 10,427 | ' | ' |
Capital lease obligations, non-current | 1,733 | 0 | ' | ' |
Deferred revenue, non-current | 33,417 | 4,142 | ' | ' |
Deferred income taxes, net | 45,335 | 5,560 | ' | ' |
Stock-based compensation liability | 25,244 | 1,291 | ' | ' |
Other long-term liabilities | 141 | 70 | ' | ' |
Total liabilities | 419,759 | 33,076 | ' | ' |
Member's interest | 205,022 | 150,000 | ' | ' |
Accumulated other comprehensive loss | 14,456 | -4,755 | ' | ' |
(Accumulated deficit)/retained earnings | -5,004 | 6,250 | ' | ' |
Total member's equity | 214,474 | 151,495 | ' | ' |
Total liabilities and member's equity | 634,233 | 184,571 | ' | ' |
Eliminations [Member] | ' | ' | ' | ' |
Cash and cash equivalents | 0 | 0 | ' | ' |
Trade receivables, net | 0 | 0 | ' | ' |
Due from related-parties | -754 | -1,107 | ' | ' |
Prepaid expenses | 0 | 0 | ' | ' |
Deferred income taxes | 0 | 0 | ' | ' |
Other assets, current | 0 | 0 | ' | ' |
Total current assets | -754 | -1,107 | ' | ' |
Property and equipment, net | 0 | 0 | ' | ' |
Intangible assets, net | 0 | 0 | ' | ' |
Goodwill | 0 | 0 | ' | ' |
Debt issuance costs, net | 0 | 0 | ' | ' |
Deferred income taxes, net | ' | 0 | ' | ' |
Other assets | ' | 0 | ' | ' |
Related party receivable, long-term | -267,770 | -10,427 | ' | ' |
Investment in subsidiary | -303,703 | -216,224 | ' | ' |
Total assets | -572,227 | -227,758 | ' | ' |
Current portion of long-term debt | 0 | 0 | ' | ' |
Accounts payable | 0 | 0 | ' | ' |
Accrued liabilities | 0 | 0 | ' | ' |
Accrued interest | 0 | 0 | ' | ' |
Capital lease obligations, current | 0 | 0 | ' | ' |
Due to related-parties | -754 | -1,107 | ' | ' |
Deferred revenue, current | 0 | 0 | ' | ' |
Total current liabilities | -754 | -1,107 | ' | ' |
Long-term debt, less current portion | 0 | 0 | ' | ' |
Related party debt, long-term | -267,770 | -10,427 | ' | ' |
Capital lease obligations, non-current | 0 | 0 | ' | ' |
Deferred revenue, non-current | 0 | 0 | ' | ' |
Deferred income taxes, net | 0 | 0 | ' | ' |
Stock-based compensation liability | 0 | 0 | ' | ' |
Other long-term liabilities | 0 | 0 | ' | ' |
Total liabilities | -268,524 | -11,534 | ' | ' |
Member's interest | -303,703 | -216,224 | ' | ' |
Accumulated other comprehensive loss | 0 | 0 | ' | ' |
(Accumulated deficit)/retained earnings | 0 | 0 | ' | ' |
Total member's equity | -303,703 | -216,224 | ' | ' |
Total liabilities and member's equity | ($572,227) | ($227,758) | ' | ' |
Condensed_Consolidating_Financ4
Condensed Consolidating Financial Information (Schedule Of Condensed Consolidating Statements Of Operations) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||||||||||||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012 | ||||||||||
Revenue | $290,928 | [1] | $278,038 | [2] | $273,599 | [3],[4] | $264,345 | [5] | $258,170 | [6] | $253,148 | [7] | $245,265 | [8],[9] | $231,502 | [10] | $1,106,910 | $988,085 | $382,043 | ||
Operating costs, excluding depreciation and amortization | 36,223 | [1] | 35,358 | [2] | 35,027 | [3],[4] | 34,917 | [5] | 33,860 | [6] | 35,130 | [7] | 34,888 | [8],[9] | 32,717 | [10] | 141,525 | 136,595 | 82,581 | ||
Selling, general and administrative expenses, excluding stock-based compensation | 87,861 | [1],[11] | 77,734 | [2] | 77,538 | [3],[4] | 74,732 | [5] | 83,744 | [12],[6] | 70,419 | [7] | 73,027 | [8],[9] | 85,792 | [10] | 317,865 | 312,982 | 111,695 | ||
Stock-based compensation | 89,027 | [1] | 64,964 | [2] | 56,686 | [3],[4] | 42,684 | [5] | 37,669 | [6] | 23,453 | [7] | 33,445 | [8],[9] | 10,481 | [10] | 253,361 | 105,048 | 26,253 | ||
Selling, general and administrative expenses | 176,888 | [1] | 142,698 | [2] | 134,224 | [3],[4] | 117,416 | [5] | 121,413 | [6] | 93,872 | [7] | 106,472 | [8],[9] | 96,273 | [10] | 571,226 | 418,030 | 137,948 | ||
Depreciation and amortization | 90,872 | [1] | 83,703 | [2] | 81,257 | [3],[4] | 80,575 | [5] | 80,191 | [6] | 79,473 | [7] | 83,467 | [8],[9] | 79,549 | [10] | 336,407 | 322,680 | 84,961 | ||
Total operating costs and expenses | 303,983 | [1] | 261,759 | [2] | 250,508 | [3],[4] | 232,908 | [5] | 235,464 | [6] | 208,475 | [7] | 224,827 | [8],[9] | 208,539 | [10] | 1,049,158 | 877,305 | 305,490 | ||
Operating income | -13,055 | [1] | 16,279 | [2] | 23,091 | [3],[4] | 31,437 | [5] | 22,706 | [6] | 44,673 | [7] | 20,438 | [8],[9] | 22,963 | [10] | 57,752 | 110,780 | 76,553 | ||
Interest expense | -52,603 | [1] | -49,131 | [2] | -50,277 | [3],[4] | -51,497 | [5] | -37,656 | [13],[6] | -49,618 | [13],[7] | -52,635 | [13],[8],[9] | -62,555 | [10],[13] | -203,508 | -202,464 | [13] | -50,720 | |
Impairment of cost method investment | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | -2,248 | ||||||||||
Loss on extinguishment of debt | 0 | [1],[11] | 0 | [11],[2] | -1,911 | [11],[3],[4] | 0 | [11],[5] | 0 | [14],[6] | -6,571 | [14],[7] | -5,707 | [14],[8],[9] | -64,975 | [10],[14] | -1,911 | [11] | -77,253 | [14] | 0 |
Other income, net | 3,773 | [1] | 125 | [2] | 479 | [3],[4] | 662 | [5] | 25 | [6] | -508 | [7] | 224 | [8],[9] | 585 | [10] | 5,039 | 326 | 123 | ||
Equity in net earnings of subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | ||||||||||
Total other expense, net | -48,830 | [1] | -49,006 | [2] | -51,709 | [3],[4] | -50,835 | [5] | -37,631 | [6] | -56,697 | [7] | -58,118 | [8],[9] | -126,945 | [10] | -200,380 | -279,391 | -52,845 | ||
(Loss)/earnings from continuing operations before provision for income taxes | -61,885 | [1] | -32,727 | [2] | -28,618 | [3],[4] | -19,398 | [5] | -14,925 | [6] | -12,024 | [7] | -37,680 | [8],[9] | -103,982 | [10] | -142,628 | -168,611 | 23,708 | ||
Provision/(benefit) for income taxes | 10,291 | [1] | 11,327 | [2] | 7,697 | [3],[4] | 8,534 | [5] | 9,461 | [6] | 6,519 | [7] | -3,438 | [8],[9] | -36,588 | [10] | 37,849 | -24,046 | 29,557 | ||
(Loss)/Income from continuing operations | -72,176 | [1] | -44,054 | [2] | -36,315 | [3],[4] | -27,932 | [5] | -24,386 | [6] | -18,543 | [7] | -34,242 | [8],[9] | -67,394 | [10] | -180,477 | -144,565 | -5,849 | ||
Earnings from discontinued operations, net of income taxes | 0 | [1],[15] | 0 | [15],[2] | 0 | [15],[3],[4] | 0 | [15],[5] | 0 | [15],[6] | 0 | [15],[7] | 0 | [15],[8],[9] | 1,808 | [10],[15] | 0 | [15] | 1,808 | [15] | 0 |
Net (loss)/earnings | -72,176 | [1] | -44,054 | [2] | -36,315 | [3],[4] | -27,932 | [5] | -24,386 | [6] | -18,543 | [7] | -34,242 | [8],[9] | -65,586 | [10] | -180,477 | -142,757 | -5,849 | ||
Zayo Group, LLC [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||
Revenue | ' | ' | ' | ' | ' | ' | ' | ' | 961,201 | 876,443 | 342,990 | ||||||||||
Operating costs, excluding depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 110,601 | 107,480 | 63,564 | ||||||||||
Selling, general and administrative expenses, excluding stock-based compensation | ' | ' | ' | ' | ' | ' | ' | ' | 273,171 | 275,558 | 104,497 | ||||||||||
Stock-based compensation | ' | ' | ' | ' | ' | ' | ' | ' | 214,045 | 102,145 | 24,934 | ||||||||||
Selling, general and administrative expenses | ' | ' | ' | ' | ' | ' | ' | ' | 487,216 | 377,703 | 129,431 | ||||||||||
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 307,636 | 301,392 | 78,882 | ||||||||||
Total operating costs and expenses | ' | ' | ' | ' | ' | ' | ' | ' | 905,453 | 786,575 | 271,877 | ||||||||||
Operating income | ' | ' | ' | ' | ' | ' | ' | ' | 55,748 | 89,868 | 71,113 | ||||||||||
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | -200,479 | -201,964 | -50,507 | ||||||||||
Impairment of cost method investment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -2,248 | ||||||||||
Loss on extinguishment of debt | ' | ' | ' | ' | ' | ' | ' | ' | -1,911 | -77,253 | ' | ||||||||||
Other income, net | ' | ' | ' | ' | ' | ' | ' | ' | 3,860 | 257 | 123 | ||||||||||
Equity in net earnings of subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | -2,568 | 15,816 | 1,040 | ||||||||||
Total other expense, net | ' | ' | ' | ' | ' | ' | ' | ' | -201,098 | -263,144 | -51,592 | ||||||||||
(Loss)/earnings from continuing operations before provision for income taxes | ' | ' | ' | ' | ' | ' | ' | ' | -145,350 | -173,276 | 19,521 | ||||||||||
Provision/(benefit) for income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 35,127 | -28,711 | 25,370 | ||||||||||
(Loss)/Income from continuing operations | ' | ' | ' | ' | ' | ' | ' | ' | -180,477 | -144,565 | -5,849 | ||||||||||
Earnings from discontinued operations, net of income taxes | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,808 | ' | ||||||||||
Net (loss)/earnings | ' | ' | ' | ' | ' | ' | ' | ' | -180,477 | -142,757 | -5,849 | ||||||||||
Guarantor Subsidiaries [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||
Revenue | ' | ' | ' | ' | ' | ' | ' | ' | 75,299 | 62,469 | 43,251 | ||||||||||
Operating costs, excluding depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 23,219 | 30,389 | 19,024 | ||||||||||
Selling, general and administrative expenses, excluding stock-based compensation | ' | ' | ' | ' | ' | ' | ' | ' | 15,699 | 11,560 | 7,198 | ||||||||||
Stock-based compensation | ' | ' | ' | ' | ' | ' | ' | ' | 15,161 | 1,569 | 1,319 | ||||||||||
Selling, general and administrative expenses | ' | ' | ' | ' | ' | ' | ' | ' | 30,860 | 13,129 | 8,517 | ||||||||||
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 11,934 | 7,970 | 6,079 | ||||||||||
Total operating costs and expenses | ' | ' | ' | ' | ' | ' | ' | ' | 66,013 | 51,488 | 33,620 | ||||||||||
Operating income | ' | ' | ' | ' | ' | ' | ' | ' | 9,286 | 10,981 | 9,631 | ||||||||||
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | -583 | -87 | -213 | ||||||||||
Impairment of cost method investment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ||||||||||
Loss on extinguishment of debt | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | ' | ||||||||||
Other income, net | ' | ' | ' | ' | ' | ' | ' | ' | -20 | 4 | 0 | ||||||||||
Equity in net earnings of subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | ||||||||||
Total other expense, net | ' | ' | ' | ' | ' | ' | ' | ' | -603 | -83 | -213 | ||||||||||
(Loss)/earnings from continuing operations before provision for income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 8,683 | 10,898 | 9,418 | ||||||||||
Provision/(benefit) for income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 4,187 | ||||||||||
(Loss)/Income from continuing operations | ' | ' | ' | ' | ' | ' | ' | ' | 8,683 | 10,898 | 5,231 | ||||||||||
Earnings from discontinued operations, net of income taxes | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ||||||||||
Net (loss)/earnings | ' | ' | ' | ' | ' | ' | ' | ' | 8,683 | 10,898 | 5,231 | ||||||||||
Other Non-Guarantor Subsidiaries [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||
Revenue | ' | ' | ' | ' | ' | ' | ' | ' | 70,410 | 57,852 | 0 | ||||||||||
Operating costs, excluding depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 7,705 | 7,405 | 0 | ||||||||||
Selling, general and administrative expenses, excluding stock-based compensation | ' | ' | ' | ' | ' | ' | ' | ' | 28,995 | 25,864 | 0 | ||||||||||
Stock-based compensation | ' | ' | ' | ' | ' | ' | ' | ' | 24,155 | 1,334 | 0 | ||||||||||
Selling, general and administrative expenses | ' | ' | ' | ' | ' | ' | ' | ' | 53,150 | 27,198 | 0 | ||||||||||
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 16,837 | 13,318 | 0 | ||||||||||
Total operating costs and expenses | ' | ' | ' | ' | ' | ' | ' | ' | 77,692 | 47,921 | 0 | ||||||||||
Operating income | ' | ' | ' | ' | ' | ' | ' | ' | -7,282 | 9,931 | 0 | ||||||||||
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | -2,446 | -413 | 0 | ||||||||||
Impairment of cost method investment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ||||||||||
Loss on extinguishment of debt | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | ' | ||||||||||
Other income, net | ' | ' | ' | ' | ' | ' | ' | ' | 1,199 | 65 | 0 | ||||||||||
Equity in net earnings of subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | ||||||||||
Total other expense, net | ' | ' | ' | ' | ' | ' | ' | ' | -1,247 | -348 | 0 | ||||||||||
(Loss)/earnings from continuing operations before provision for income taxes | ' | ' | ' | ' | ' | ' | ' | ' | -8,529 | 9,583 | 0 | ||||||||||
Provision/(benefit) for income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 2,722 | 4,665 | 0 | ||||||||||
(Loss)/Income from continuing operations | ' | ' | ' | ' | ' | ' | ' | ' | -11,251 | 4,918 | 0 | ||||||||||
Earnings from discontinued operations, net of income taxes | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ||||||||||
Net (loss)/earnings | ' | ' | ' | ' | ' | ' | ' | ' | -11,251 | 4,918 | 0 | ||||||||||
Eliminations [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||
Revenue | ' | ' | ' | ' | ' | ' | ' | ' | 0 | -8,679 | -4,198 | ||||||||||
Operating costs, excluding depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 0 | -8,679 | -7 | ||||||||||
Selling, general and administrative expenses, excluding stock-based compensation | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | ||||||||||
Stock-based compensation | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | ||||||||||
Selling, general and administrative expenses | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | ||||||||||
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | ||||||||||
Total operating costs and expenses | ' | ' | ' | ' | ' | ' | ' | ' | 0 | -8,679 | -7 | ||||||||||
Operating income | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | -4,191 | ||||||||||
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | ||||||||||
Impairment of cost method investment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ||||||||||
Loss on extinguishment of debt | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | ' | ||||||||||
Other income, net | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | ||||||||||
Equity in net earnings of subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | 2,568 | -15,816 | -1,040 | ||||||||||
Total other expense, net | ' | ' | ' | ' | ' | ' | ' | ' | 2,568 | -15,816 | -1,040 | ||||||||||
(Loss)/earnings from continuing operations before provision for income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 2,568 | -15,816 | -5,231 | ||||||||||
Provision/(benefit) for income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | ||||||||||
(Loss)/Income from continuing operations | ' | ' | ' | ' | ' | ' | ' | ' | 2,568 | -15,816 | -5,231 | ||||||||||
Earnings from discontinued operations, net of income taxes | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ||||||||||
Net (loss)/earnings | ' | ' | ' | ' | ' | ' | ' | ' | $2,568 | ($15,816) | ($5,231) | ||||||||||
[1] | The Company realized an increase in revenue and operating expenses beginning May 16, 2014 as a result of the acquisition of Geo. | ||||||||||||||||||||
[2] | The Company realized an increase in revenue and operating expenses beginning March 4, 2014 as a result of the acquisition of CoreXchange. | ||||||||||||||||||||
[3] | The Company realized an increase in revenue and operating expenses beginning October 1, 2013 as a result of the acquisition of Access. | ||||||||||||||||||||
[4] | The Company realized an increase in revenue and operating expenses beginning October 1, 2013 as a result of the acquisition of Fiberlink. | ||||||||||||||||||||
[5] | The Company realized an increase in revenue and operating expenses beginning August 1, 2013 as a result of the acquisition of Corelink. | ||||||||||||||||||||
[6] | The Company realized an increase in revenue and operating expenses beginning June 1, 2013 as a result of the acquisition of Core NAP. | ||||||||||||||||||||
[7] | The Company realized an increase in revenue and operating expenses beginning December 31, 2012 as a result of the acquisition of Litecast. | ||||||||||||||||||||
[8] | The Company realized an increase in revenue and operating expenses beginning October 1, 2012 as a result of the acquisition of USCarrier. | ||||||||||||||||||||
[9] | The Company realized an increase in revenue and operating expenses beginning December 14, 2012 as a result of the acquisition of First Telecom. | ||||||||||||||||||||
[10] | The Company realized an increase in revenue and operating expenses beginning August 31, 2012 as a result of the acquisition of FiberGate. | ||||||||||||||||||||
[11] | The Company completed a debt refinancing transaction during the second quarter of Fiscal 2014, resulting in a loss on debt extinguishment for that respective period. See Note 9bLong-Term Debt. | ||||||||||||||||||||
[12] | During the quarter ended June 30, 2013, the Company recognized a charge of $10,197 for lease termination costs related to exit activities initiated for unutilized space associated with leased office and technical facilities b see Note 15 b Commitments and Contingencies. | ||||||||||||||||||||
[13] | The Company realized a decrease in interest expense during the second and third quarters of 2013 due to financing transactions completed to lower its interest rates on its variable rate debt. During the fourth quarter of 2013, favorable movements in interest rates increased the fair value of the Company's interest rate swaps, resulting in a decrease in the Company's interest expense - see Note 9 - Long-Term Debt. | ||||||||||||||||||||
[14] | The Company completed debt refinancing transactions during the first, second and third quarters of Fiscal 2013, resulting in a loss on debt extinguishment in each respective period. See Note 9 - Long-Term Debt. | ||||||||||||||||||||
[15] | The Company spun-off its ZPS operating unit on September 30, 2012 - see Note 4 - Spin-Off of Business. |
Condensed_Consolidating_Financ5
Condensed Consolidating Financial Information (Schedule Of Condensed Consolidating Statements Of Cash Flows) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012 |
Net cash provided by operating activities of continuing operations | $560,297 | $393,321 | $167,630 |
Purchases of property and equipment, net of stimulus grants | -360,757 | -323,201 | -124,137 |
Proceeds from sale of property and equipment | ' | ' | -351,273 |
Acquisitions, net of cash acquired | -393,341 | -2,483,137 | ' |
Proceeds from principal payments received on related party loans | ' | 10,396 | ' |
Net cash used in investing activities of continuing operations | -754,098 | -2,795,942 | -475,410 |
Equity contributions | -5,605 | -345,013 | -134,796 |
Proceeds from Dividends Received | 0 | ' | ' |
Principal repayments on capital lease obligations | -7,874 | -1,931 | -1,171 |
Dividend received/(paid) | -1,203 | 0 | 0 |
Proceeds from issuance of long-term debt | -423,625 | -3,189,339 | -335,550 |
Proceeds from revolving credit facility | 195,000 | 0 | 0 |
Principal repayments on long-term debt | -18,013 | -1,058,577 | -1,575 |
Payments on revolving credit facility | -195,000 | ' | ' |
Payment of intercompany loan | 0 | 0 | ' |
Payment of early redemption fees on debt extinguished | 0 | -72,117 | 0 |
Change in restricted cash, net | 0 | 22,666 | -22,820 |
Cash contributed to ZPS | 0 | -7,218 | 0 |
Deferred financing costs | -4,891 | -83,134 | -11,701 |
Net cash provided by financing activities of continuing operations | 397,249 | 2,334,041 | 433,079 |
Cash flows from discontinued operations | 0 | 6,338 | 0 |
Operating activities | 0 | 3,914 | 0 |
Investing activities | 0 | 2,424 | 0 |
Effect of changes in foreign exchange rates on cash | ' | -303 | ' |
Effect of changes in foreign exchange rates on cash | 1,018 | -303 | 0 |
Net increase/(decrease) in cash and cash equivalents | 204,466 | -62,545 | 125,299 |
Cash and cash equivalents, beginning of period | 88,148 | 150,693 | 25,394 |
Cash and cash equivalents, end of period | 292,614 | 88,148 | 150,693 |
Zayo Group, LLC [Member] | ' | ' | ' |
Net cash provided by operating activities of continuing operations | 489,909 | 352,312 | 151,090 |
Purchases of property and equipment, net of stimulus grants | -316,521 | -299,692 | -116,685 |
Proceeds from sale of property and equipment | ' | ' | -351,273 |
Acquisitions, net of cash acquired | -83,205 | -2,491,450 | ' |
Proceeds from principal payments received on related party loans | ' | 10,396 | ' |
Net cash used in investing activities of continuing operations | -399,726 | -2,780,746 | -467,958 |
Equity contributions | -5,605 | -345,013 | -134,796 |
Proceeds from Dividends Received | -69,722 | ' | ' |
Principal repayments on capital lease obligations | -2,105 | -1,808 | -1,050 |
Dividend received/(paid) | -1,203 | 18,600 | 10,257 |
Proceeds from issuance of long-term debt | -423,625 | -3,184,452 | -335,550 |
Proceeds from revolving credit facility | 195,000 | ' | ' |
Principal repayments on long-term debt | -18,013 | -1,058,577 | -1,575 |
Payments on revolving credit facility | -195,000 | ' | ' |
Payment of intercompany loan | -251,049 | 8,253 | ' |
Payment of early redemption fees on debt extinguished | ' | -72,117 | ' |
Change in restricted cash, net | ' | 22,666 | -22,820 |
Cash contributed to ZPS | ' | -7,218 | ' |
Deferred financing costs | -4,891 | -83,134 | -11,701 |
Net cash provided by financing activities of continuing operations | 82,247 | 2,356,130 | 443,457 |
Operating activities | ' | 6,338 | ' |
Effect of changes in foreign exchange rates on cash | ' | 0 | ' |
Effect of changes in foreign exchange rates on cash | 0 | ' | ' |
Net increase/(decrease) in cash and cash equivalents | 172,430 | -65,966 | 126,589 |
Cash and cash equivalents, beginning of period | 83,608 | 149,574 | 22,985 |
Cash and cash equivalents, end of period | 256,038 | 83,608 | 149,574 |
Guarantor Subsidiaries [Member] | ' | ' | ' |
Net cash provided by operating activities of continuing operations | 37,064 | 27,427 | 16,540 |
Purchases of property and equipment, net of stimulus grants | -28,196 | -14,122 | -7,452 |
Proceeds from sale of property and equipment | ' | ' | 0 |
Acquisitions, net of cash acquired | -17,804 | 421 | ' |
Proceeds from principal payments received on related party loans | ' | 0 | ' |
Net cash used in investing activities of continuing operations | -46,000 | -13,701 | -7,452 |
Equity contributions | 0 | 0 | 0 |
Proceeds from Dividends Received | 14,709 | ' | ' |
Principal repayments on capital lease obligations | -5,769 | -123 | -121 |
Dividend received/(paid) | 0 | -18,600 | -10,257 |
Proceeds from issuance of long-term debt | 0 | -4,887 | 0 |
Proceeds from revolving credit facility | 0 | ' | ' |
Principal repayments on long-term debt | 0 | 0 | 0 |
Payments on revolving credit facility | 0 | ' | ' |
Payment of intercompany loan | 0 | 0 | ' |
Payment of early redemption fees on debt extinguished | ' | 0 | ' |
Change in restricted cash, net | ' | 0 | 0 |
Cash contributed to ZPS | ' | 0 | ' |
Deferred financing costs | 0 | 0 | 0 |
Net cash provided by financing activities of continuing operations | 8,940 | -13,836 | -10,378 |
Operating activities | ' | 0 | ' |
Effect of changes in foreign exchange rates on cash | ' | 0 | ' |
Effect of changes in foreign exchange rates on cash | 0 | ' | ' |
Net increase/(decrease) in cash and cash equivalents | 4 | -110 | -1,290 |
Cash and cash equivalents, beginning of period | 1,009 | 1,119 | 2,409 |
Cash and cash equivalents, end of period | 1,013 | 1,009 | 1,119 |
Other Non-Guarantor Subsidiaries [Member] | ' | ' | ' |
Net cash provided by operating activities of continuing operations | 33,324 | 13,582 | 0 |
Purchases of property and equipment, net of stimulus grants | -16,040 | -9,387 | 0 |
Proceeds from sale of property and equipment | ' | ' | 0 |
Acquisitions, net of cash acquired | -292,332 | 7,892 | ' |
Proceeds from principal payments received on related party loans | ' | 0 | ' |
Net cash used in investing activities of continuing operations | -308,372 | -1,495 | 0 |
Equity contributions | 0 | 0 | 0 |
Proceeds from Dividends Received | 55,013 | ' | ' |
Principal repayments on capital lease obligations | 0 | 0 | 0 |
Dividend received/(paid) | 0 | 0 | 0 |
Proceeds from issuance of long-term debt | 0 | 0 | 0 |
Proceeds from revolving credit facility | 0 | ' | ' |
Principal repayments on long-term debt | 0 | 0 | 0 |
Payments on revolving credit facility | 0 | ' | ' |
Payment of intercompany loan | 251,049 | -8,253 | ' |
Payment of early redemption fees on debt extinguished | ' | 0 | ' |
Change in restricted cash, net | ' | 0 | 0 |
Cash contributed to ZPS | ' | 0 | ' |
Deferred financing costs | 0 | 0 | 0 |
Net cash provided by financing activities of continuing operations | 306,062 | -8,253 | 0 |
Operating activities | ' | 0 | ' |
Effect of changes in foreign exchange rates on cash | ' | -303 | ' |
Effect of changes in foreign exchange rates on cash | 1,018 | ' | ' |
Net increase/(decrease) in cash and cash equivalents | 32,032 | 3,531 | 0 |
Cash and cash equivalents, beginning of period | 3,531 | 0 | 0 |
Cash and cash equivalents, end of period | $35,563 | $3,531 | $0 |
Quarterly_Financial_Data_Unaud2
Quarterly Financial Data (Unaudited) (Schedule of Quarterly Results) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||||||||||||
In Thousands, unless otherwise specified | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2012 | ||||||||||
Quarterly Financial Data [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||
Revenue | $290,928 | [1] | $278,038 | [2] | $273,599 | [3],[4] | $264,345 | [5] | $258,170 | [6] | $253,148 | [7] | $245,265 | [8],[9] | $231,502 | [10] | $1,106,910 | $988,085 | $382,043 | ||
Operating costs and expenses | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||
Operating costs, excluding depreciation and amortization | 36,223 | [1] | 35,358 | [2] | 35,027 | [3],[4] | 34,917 | [5] | 33,860 | [6] | 35,130 | [7] | 34,888 | [8],[9] | 32,717 | [10] | 141,525 | 136,595 | 82,581 | ||
Selling, general and administrative expenses, excluding stock-based compensation | 87,861 | [1],[11] | 77,734 | [2] | 77,538 | [3],[4] | 74,732 | [5] | 83,744 | [12],[6] | 70,419 | [7] | 73,027 | [8],[9] | 85,792 | [10] | 317,865 | 312,982 | 111,695 | ||
Stock-based compensation | 89,027 | [1] | 64,964 | [2] | 56,686 | [3],[4] | 42,684 | [5] | 37,669 | [6] | 23,453 | [7] | 33,445 | [8],[9] | 10,481 | [10] | 253,361 | 105,048 | 26,253 | ||
Selling, general and administrative expenses | 176,888 | [1] | 142,698 | [2] | 134,224 | [3],[4] | 117,416 | [5] | 121,413 | [6] | 93,872 | [7] | 106,472 | [8],[9] | 96,273 | [10] | 571,226 | 418,030 | 137,948 | ||
Depreciation and amortization | 90,872 | [1] | 83,703 | [2] | 81,257 | [3],[4] | 80,575 | [5] | 80,191 | [6] | 79,473 | [7] | 83,467 | [8],[9] | 79,549 | [10] | 336,407 | 322,680 | 84,961 | ||
Total operating costs and expenses | 303,983 | [1] | 261,759 | [2] | 250,508 | [3],[4] | 232,908 | [5] | 235,464 | [6] | 208,475 | [7] | 224,827 | [8],[9] | 208,539 | [10] | 1,049,158 | 877,305 | 305,490 | ||
Operating income | -13,055 | [1] | 16,279 | [2] | 23,091 | [3],[4] | 31,437 | [5] | 22,706 | [6] | 44,673 | [7] | 20,438 | [8],[9] | 22,963 | [10] | 57,752 | 110,780 | 76,553 | ||
Other expenses | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||
Interest expense | -52,603 | [1] | -49,131 | [2] | -50,277 | [3],[4] | -51,497 | [5] | -37,656 | [13],[6] | -49,618 | [13],[7] | -52,635 | [13],[8],[9] | -62,555 | [10],[13] | -203,508 | -202,464 | [13] | -50,720 | |
Impairment of cost method investment | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | -2,248 | ||||||||||
Loss on extinguishment of debt | 0 | [1],[11] | 0 | [11],[2] | -1,911 | [11],[3],[4] | 0 | [11],[5] | 0 | [14],[6] | -6,571 | [14],[7] | -5,707 | [14],[8],[9] | -64,975 | [10],[14] | -1,911 | [11] | -77,253 | [14] | 0 |
Other income, net | 3,773 | [1] | 125 | [2] | 479 | [3],[4] | 662 | [5] | 25 | [6] | -508 | [7] | 224 | [8],[9] | 585 | [10] | 5,039 | 326 | 123 | ||
Total other expense, net | -48,830 | [1] | -49,006 | [2] | -51,709 | [3],[4] | -50,835 | [5] | -37,631 | [6] | -56,697 | [7] | -58,118 | [8],[9] | -126,945 | [10] | -200,380 | -279,391 | -52,845 | ||
(Loss)/earnings from continuing operations before provision for income taxes | -61,885 | [1] | -32,727 | [2] | -28,618 | [3],[4] | -19,398 | [5] | -14,925 | [6] | -12,024 | [7] | -37,680 | [8],[9] | -103,982 | [10] | -142,628 | -168,611 | 23,708 | ||
Provision/(benefit) for income taxes | 10,291 | [1] | 11,327 | [2] | 7,697 | [3],[4] | 8,534 | [5] | 9,461 | [6] | 6,519 | [7] | -3,438 | [8],[9] | -36,588 | [10] | 37,849 | -24,046 | 29,557 | ||
(Loss)/Income from continuing operations | -72,176 | [1] | -44,054 | [2] | -36,315 | [3],[4] | -27,932 | [5] | -24,386 | [6] | -18,543 | [7] | -34,242 | [8],[9] | -67,394 | [10] | -180,477 | -144,565 | -5,849 | ||
Earnings from discontinued operations, net of income taxes | 0 | [1],[15] | 0 | [15],[2] | 0 | [15],[3],[4] | 0 | [15],[5] | 0 | [15],[6] | 0 | [15],[7] | 0 | [15],[8],[9] | 1,808 | [10],[15] | 0 | [15] | 1,808 | [15] | 0 |
Net loss | -72,176 | [1] | -44,054 | [2] | -36,315 | [3],[4] | -27,932 | [5] | -24,386 | [6] | -18,543 | [7] | -34,242 | [8],[9] | -65,586 | [10] | -180,477 | -142,757 | -5,849 | ||
Lease termination charge | ' | ' | ' | ' | $10,197 | ' | ' | ' | $0 | ($10,197) | $0 | ||||||||||
[1] | The Company realized an increase in revenue and operating expenses beginning May 16, 2014 as a result of the acquisition of Geo. | ||||||||||||||||||||
[2] | The Company realized an increase in revenue and operating expenses beginning March 4, 2014 as a result of the acquisition of CoreXchange. | ||||||||||||||||||||
[3] | The Company realized an increase in revenue and operating expenses beginning October 1, 2013 as a result of the acquisition of Access. | ||||||||||||||||||||
[4] | The Company realized an increase in revenue and operating expenses beginning October 1, 2013 as a result of the acquisition of Fiberlink. | ||||||||||||||||||||
[5] | The Company realized an increase in revenue and operating expenses beginning August 1, 2013 as a result of the acquisition of Corelink. | ||||||||||||||||||||
[6] | The Company realized an increase in revenue and operating expenses beginning June 1, 2013 as a result of the acquisition of Core NAP. | ||||||||||||||||||||
[7] | The Company realized an increase in revenue and operating expenses beginning December 31, 2012 as a result of the acquisition of Litecast. | ||||||||||||||||||||
[8] | The Company realized an increase in revenue and operating expenses beginning October 1, 2012 as a result of the acquisition of USCarrier. | ||||||||||||||||||||
[9] | The Company realized an increase in revenue and operating expenses beginning December 14, 2012 as a result of the acquisition of First Telecom. | ||||||||||||||||||||
[10] | The Company realized an increase in revenue and operating expenses beginning August 31, 2012 as a result of the acquisition of FiberGate. | ||||||||||||||||||||
[11] | The Company completed a debt refinancing transaction during the second quarter of Fiscal 2014, resulting in a loss on debt extinguishment for that respective period. See Note 9bLong-Term Debt. | ||||||||||||||||||||
[12] | During the quarter ended June 30, 2013, the Company recognized a charge of $10,197 for lease termination costs related to exit activities initiated for unutilized space associated with leased office and technical facilities b see Note 15 b Commitments and Contingencies. | ||||||||||||||||||||
[13] | The Company realized a decrease in interest expense during the second and third quarters of 2013 due to financing transactions completed to lower its interest rates on its variable rate debt. During the fourth quarter of 2013, favorable movements in interest rates increased the fair value of the Company's interest rate swaps, resulting in a decrease in the Company's interest expense - see Note 9 - Long-Term Debt. | ||||||||||||||||||||
[14] | The Company completed debt refinancing transactions during the first, second and third quarters of Fiscal 2013, resulting in a loss on debt extinguishment in each respective period. See Note 9 - Long-Term Debt. | ||||||||||||||||||||
[15] | The Company spun-off its ZPS operating unit on September 30, 2012 - see Note 4 - Spin-Off of Business. |