Document_and_Entity_Informatio
Document and Entity Information | 9 Months Ended | |
Sep. 30, 2013 | Oct. 25, 2013 | |
Document and Entity Information [Abstract] | ' | ' |
Entity Registrant Name | 'FRONTIER COMMUNICATIONS CORP | ' |
Entity Central Index Key | '0000020520 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Well-known Seasoned Issuer | 'Yes | ' |
Entity Voluntary Filers | 'No | ' |
Entity Current Reporting Status | 'Yes | ' |
Entity Filer Category | 'Large Accelerated Filer | ' |
Entity Common Stock, Shares Outstanding | ' | 999,547,000 |
Document Fiscal Year Focus | '2013 | ' |
Document Fiscal Period Focus | 'Q3 | ' |
Document Type | '10-Q | ' |
Amendment Flag | 'false | ' |
Document Period End Date | 30-Sep-13 | ' |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Current assets: | ' | ' |
Cash and cash equivalents | $660,997 | $1,326,532 |
Accounts receivable, less allowances of $85,663 and $93,267, respectively | 472,223 | 533,704 |
Restricted cash | 9,260 | 15,408 |
Prepaid expenses | 64,492 | 66,972 |
Income taxes and other current assets | 116,564 | 144,587 |
Total current assets | 1,323,536 | 2,087,203 |
Restricted cash | 11,612 | 27,252 |
Property, plant and equipment, net | 7,289,567 | 7,504,896 |
Goodwill | 6,337,719 | 6,337,719 |
Other intangibles, net | 1,291,954 | 1,542,739 |
Other assets | 239,026 | 233,822 |
Total assets | 16,493,414 | 17,733,631 |
Current liabilities: | ' | ' |
Long-term debt due within one year | 257,910 | 560,550 |
Accounts payable | 231,451 | 338,148 |
Advanced billings | 139,504 | 146,317 |
Accrued other taxes | 73,409 | 66,342 |
Accrued interest | 203,383 | 209,327 |
Other current liabilities | 219,234 | 232,836 |
Total current liabilities | 1,124,891 | 1,553,520 |
Deferred income taxes | 2,297,447 | 2,357,210 |
Pension and other postretirement benefits | 1,022,765 | 1,055,058 |
Other liabilities | 254,953 | 266,625 |
Long-term debt | 7,887,296 | 8,381,947 |
Shareholders' equity of Frontier: | ' | ' |
Common stock, $0.25 par value (1,750,000,000 authorized shares, 999,517,000 and 998,410,000 outstanding, respectively, and 1,027,986,000 issued, at September 30, 2013 and December 31, 2012) | 256,997 | 256,997 |
Additional paid-in capital | 4,317,473 | 4,639,563 |
Retained earnings | 108,285 | 63,205 |
Accumulated other comprehensive loss, net of tax | -438,779 | -483,576 |
Treasury stock | -337,914 | -368,593 |
Total shareholders' equity of Frontier | 3,906,062 | 4,107,596 |
Noncontrolling interest in a partnership | ' | 11,675 |
Total equity | 3,906,062 | 4,119,271 |
Total liabilities and equity | $16,493,414 | $17,733,631 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, except Share data, unless otherwise specified | ||
Consolidated Balance Sheets [Abstract] | ' | ' |
Allowances for accounts receivable, current | $85,663 | $93,267 |
Common stock, par value (in dollars per share) | $0.25 | $0.25 |
Common stock, shares authorized (in shares) | 1,750,000,000 | 1,750,000,000 |
Common stock, shares outstanding (in shares) | 999,517,000 | 998,410,000 |
Common stock, shares issued (in shares) | 1,027,986,000 | 1,027,986,000 |
Consolidated_Statements_Of_Ope
Consolidated Statements Of Operations (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Consolidated Statements Of Operations [Abstract] | ' | ' | ' | ' |
Revenue | $1,185,278 | $1,252,469 | $3,581,207 | $3,779,300 |
Operating expenses: | ' | ' | ' | ' |
Network access expenses | 103,955 | 102,051 | 320,467 | 333,053 |
Other operating expenses | 549,141 | 572,348 | 1,624,655 | 1,663,842 |
Depreciation and amortization | 285,701 | 298,416 | 887,225 | 962,763 |
Pension settlement costs | 40,309 | ' | 40,309 | ' |
Integration costs | ' | 4,458 | ' | 68,204 |
Total operating expenses | 979,106 | 977,273 | 2,872,656 | 3,027,862 |
Gain on sale of Mohave partnership interest | ' | ' | 14,601 | ' |
Operating income | 206,172 | 275,196 | 723,152 | 751,438 |
Investment income | 382 | 323 | 3,675 | 12,417 |
Losses on early extinguishment of debt | ' | -245 | -159,780 | -71,063 |
Other income, net | 1,142 | 4,279 | 5,459 | 6,577 |
Interest expense | 163,835 | 172,188 | 501,802 | 509,104 |
Income before income taxes | 43,861 | 107,365 | 70,704 | 190,265 |
Income tax expense | 8,461 | 35,739 | 22,981 | 66,150 |
Net income | 35,400 | 71,626 | 47,723 | 124,115 |
Less: Income attributable to the noncontrolling interest in a partnership | ' | 4,626 | 2,643 | 12,358 |
Net income attributable to common shareholders of Frontier | $35,400 | $67,000 | $45,080 | $111,757 |
Basic and diluted net income per common share attributable to common shareholders of Frontier (in dollars per share) | $0.04 | $0.07 | $0.04 | $0.11 |
Consolidated_Statements_Of_Com
Consolidated Statements Of Comprehensive Income (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Consolidated Statements OF Comprehensive Income [Abstract] | ' | ' | ' | ' |
Net income | $35,400 | $71,626 | $47,723 | $124,115 |
Pension settlement costs, net of tax (see Notes 15 and 16) | 24,992 | ' | 24,992 | ' |
Other comprehensive income, net of tax (see Note 15) | 6,313 | 2,308 | 19,805 | 12,142 |
Comprehensive income | 66,705 | 73,934 | 92,520 | 136,257 |
Less: Income attributable to the noncontrolling interest in a partnership | ' | -4,626 | -2,643 | -12,358 |
Comprehensive income attributable to the common shareholders of Frontier | $66,705 | $69,308 | $89,877 | $123,899 |
Consolidated_Statements_Of_Equ
Consolidated Statements Of Equity (USD $) | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Loss [Member] | Treasury Stock [Member] | Noncontrolling Interest [Member] | Total |
In Thousands, except Share data | |||||||
Balance at Dec. 31, 2011 | $256,997 | $4,773,383 | $226,721 | ($386,963) | ($415,001) | $13,997 | $4,469,134 |
Balance (in shares) at Dec. 31, 2011 | 1,027,986,000 | ' | ' | ' | -32,858,000 | ' | ' |
Stock plans | ' | -37,867 | ' | ' | 46,423 | ' | 8,556 |
Stock plans (in shares) | ' | ' | ' | ' | 3,325,000 | ' | ' |
Dividends on common stock | ' | ' | -299,547 | ' | ' | ' | -299,547 |
Net income | ' | ' | 111,757 | ' | ' | 12,358 | 124,115 |
Other comprehensive income, net of tax | ' | ' | ' | 12,142 | ' | ' | 12,142 |
Distributions | ' | ' | ' | ' | ' | -11,000 | -11,000 |
Balance at Sep. 30, 2012 | 256,997 | 4,735,516 | 38,931 | -374,821 | -368,578 | 15,355 | 4,303,400 |
Balance (in shares) at Sep. 30, 2012 | 1,027,986,000 | ' | ' | ' | -29,533,000 | ' | ' |
Stock plans | ' | 3,285 | ' | ' | -15 | ' | 3,270 |
Stock plans (in shares) | ' | ' | ' | ' | -43,000 | ' | ' |
Dividends on common stock | ' | -99,238 | -605 | ' | ' | ' | -99,843 |
Net income | ' | ' | 24,879 | ' | ' | 4,320 | 29,199 |
Other comprehensive income, net of tax | ' | ' | ' | -108,755 | ' | ' | -108,755 |
Distributions | ' | ' | ' | ' | ' | -8,000 | -8,000 |
Balance at Dec. 31, 2012 | 256,997 | 4,639,563 | 63,205 | -483,576 | -368,593 | 11,675 | 4,119,271 |
Balance (in shares) at Dec. 31, 2012 | 1,027,986,000 | ' | ' | ' | -29,576,000 | ' | 998,410,000 |
Stock plans | ' | -22,268 | ' | ' | 30,679 | ' | 8,411 |
Stock plans (in shares) | ' | ' | ' | ' | 1,107,000 | ' | ' |
Dividends on common stock | ' | -299,822 | ' | ' | ' | ' | -299,822 |
Net income | ' | ' | 45,080 | ' | ' | 2,643 | 47,723 |
Pension settlement costs, net of tax | ' | ' | ' | 24,992 | ' | ' | 24,992 |
Other comprehensive income, net of tax | ' | ' | ' | 19,805 | ' | ' | 19,805 |
Distributions | ' | ' | ' | ' | ' | -6,400 | -6,400 |
Sale of Mohave partnership interest | ' | ' | ' | ' | ' | -7,918 | -7,918 |
Balance at Sep. 30, 2013 | $256,997 | $4,317,473 | $108,285 | ($438,779) | ($337,914) | ' | $3,906,062 |
Balance (in shares) at Sep. 30, 2013 | 1,027,986,000 | ' | ' | ' | -28,469,000 | ' | 999,517,000 |
Consolidated_Statements_Of_Cas
Consolidated Statements Of Cash Flows (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Cash flows provided by (used in) operating activities: | ' | ' |
Net income | $47,723 | $124,115 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' |
Depreciation and amortization expense | 887,225 | 962,763 |
Losses on early extinguishment of debt | 159,780 | 71,063 |
Pension settlement costs | 40,309 | ' |
Pension/OPEB costs | 22,558 | 24,220 |
Stock based compensation expense | 12,561 | 12,950 |
Gain on sale of assets | -14,601 | ' |
Other non-cash adjustments | 7,353 | 7,040 |
Deferred income taxes | -43,310 | 59,794 |
Change in accounts receivable | 57,474 | 19,941 |
Change in accounts payable and other liabilities | -91,322 | -131,027 |
Change in prepaid expenses, income taxes and other current assets | -10,409 | 9,426 |
Net cash provided by operating activities | 1,075,341 | 1,160,285 |
Cash flows provided from (used by) investing activities: | ' | ' |
Capital expenditures - Business operations | -484,082 | -571,107 |
Capital expenditures - Integration activities | ' | -38,768 |
Network expansion funded by Connect America Fund | -21,042 | -854 |
Grant funds received for network expansion from Connect America Fund | 5,998 | 47,986 |
Proceeds on sale of Mohave partnership interest | 17,755 | ' |
Cash transferred from escrow | 21,788 | 47,356 |
Other assets purchased and distributions received, net | 3,536 | -12,251 |
Net cash used by investing activities | -456,047 | -527,638 |
Cash flows provided from (used by) financing activities: | ' | ' |
Long-term debt borrowing | 750,000 | 1,100,000 |
Financing costs paid | -19,360 | -22,754 |
Long-term debt payments | -1,548,548 | -571,472 |
Premium paid to retire debt | -159,429 | -52,560 |
Dividends paid | -299,822 | -299,547 |
Repayment of customer advances for construction, distributions to noncontrolling interests and other | -7,670 | -12,919 |
Net cash provided from (used by) financing activities | -1,284,829 | 140,748 |
(Decrease)/Increase in cash and cash equivalents | -665,535 | 773,395 |
Cash and cash equivalents at January 1, | 1,326,532 | 326,094 |
Cash and cash equivalents at September 30, | 660,997 | 1,099,489 |
Cash paid during the period for: | ' | ' |
Interest | 493,427 | 445,121 |
Income taxes | 82,675 | 4,093 |
Non-cash investing and financing activities: | ' | ' |
Financing obligation for contribution of real property to pension plan | 18,216 | ' |
Reduction of pension obligation | ($18,216) | ' |
Summary_Of_Significant_Account
Summary Of Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2013 | |
Summary Of Significant Accounting Policies [Abstract] | ' |
Summary Of Significant Accounting Policies | ' |
(1) Summary of Significant Accounting Policies: | |
(a) Basis of Presentation and Use of Estimates: | |
Frontier Communications Corporation and its subsidiaries are referred to as “we,” “us,” “our,” “Frontier,” or the “Company” in this report. Our interim unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP) and should be read in conjunction with the consolidated financial statements and notes included in our Annual Report on Form 10-K for the year ended December 31, 2012. All significant intercompany balances and transactions have been eliminated in consolidation. These interim unaudited consolidated financial statements include all adjustments (consisting of normal recurring accruals) considered necessary, in the opinion of Frontier’s management, to present fairly the results for the interim periods shown. Revenues, net income and cash flows for any interim periods are not necessarily indicative of results that may be expected for the full year. For our interim financial statements as of and for the period ended September 30, 2013, we evaluated subsequent events and transactions for potential recognition or disclosure through the date that we filed this quarterly report on Form 10-Q with the Securities and Exchange Commission (SEC). | |
Frontier had a 33⅓% controlling general partner interest in a partnership entity, the Mohave Cellular Limited Partnership (Mohave). Mohave’s results of operations and balance sheet were included in our consolidated financial statements through its date of disposal on April 1, 2013. The minority interest of the limited partners was reflected in the consolidated balance sheet as “Noncontrolling interest in a partnership” and in the consolidated statements of operations as “Income attributable to the noncontrolling interest in a partnership.” On April 1, 2013, the Company sold its partnership interest in Mohave. The Company recognized a gain on sale of approximately $14.6 million before taxes in the second quarter of 2013. | |
The preparation of our interim financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect (i) the reported amounts of assets and liabilities at the date of the financial statements, (ii) the disclosure of contingent assets and liabilities, and (iii) the reported amounts of revenue and expenses during the reporting period. Actual results may differ from those estimates. Estimates and judgments are used when accounting for revenue recognition (allowance for doubtful accounts), impairment of long-lived assets, intangible assets, depreciation and amortization, income taxes, purchase price allocations, contingencies, and pension and other postretirement benefits, among others. Certain information and footnote disclosures have been excluded and/or condensed pursuant to SEC rules and regulations. | |
(b) Revenue Recognition: | |
Revenue is recognized when services are provided or when products are delivered to customers. Revenue that is billed in advance includes: monthly recurring network access services (including data services), special access services and monthly recurring voice, video and related charges. The unearned portion of these fees is initially deferred as a component of current liabilities on our consolidated balance sheet and recognized as revenue over the period that the services are provided. Revenue that is billed in arrears includes: non-recurring network access services (including data services), switched access services, non-recurring voice and video services. The earned but unbilled portion of these fees is recognized as revenue in our consolidated statements of operations and accrued in accounts receivable in the period that the services are provided. Excise taxes are recognized as a liability when billed. Installation fees and their related direct and incremental costs are initially deferred and recognized as revenue and expense over the average term of a customer relationship. We recognize as current period expense the portion of installation costs that exceeds installation fee revenue. | |
As required by law, the Company collects various taxes from its customers and subsequently remits these taxes to governmental authorities. Substantially all of these taxes are recorded through the consolidated balance sheet and presented on a net basis in our consolidated statements of operations. We also collect Universal Service Fund (USF) surcharges from customers (primarily federal USF) that we have recorded on a gross basis in our consolidated statements of operations and included within “Revenue” and “Other operating expenses” of $28.6 million and $29.0 million, and $86.6 million and $87.5 million, for the three and nine months ended September 30, 2013 and 2012, respectively. | |
(c) Goodwill and Other Intangibles: | |
Intangibles represent the excess of purchase price over the fair value of identifiable tangible net assets acquired. We undertake studies to determine the fair values of assets and liabilities acquired and allocate purchase prices to assets and liabilities, including property, plant and equipment, goodwill and other identifiable intangibles. We annually (during the fourth quarter) or more frequently, if appropriate, examine the carrying value of our goodwill and trade name to determine whether there are any impairment losses. We test for goodwill impairment at the “operating segment” level, as that term is defined in U.S. GAAP. During the first quarter of 2013, the Company reorganized into four regional operating segments. Our operating segments consist of the following regions: Central, East, National and West. Our regional operating segments are aggregated into one reportable segment. In conjunction with the reorganization of our operating segments effective with the first quarter of 2013, we reassigned goodwill to our reporting units using a relative fair value allocation approach. | |
The Company amortizes finite-lived intangible assets over their estimated useful lives and reviews such intangible assets at least annually (during the fourth quarter) to assess whether any potential impairment exists and whether factors exist that would necessitate a change in useful life and a different amortization period. | |
Recent_Accounting_Literature
Recent Accounting Literature | 9 Months Ended |
Sep. 30, 2013 | |
Recent Accounting Literature [Abstract] | ' |
Recent Accounting Literature | ' |
(2) Recent Accounting Literature: | |
Presentation of Comprehensive Income | |
In February 2013, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update No. 2013-02 (ASU 2013-02), “Comprehensive Income: Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income,” (Accounting Standards Codification (ASC) Topic 220). ASU 2013-02 requires disclosing the effect of reclassifications out of accumulated other comprehensive income on the respective line items in the components of net income in circumstances when U.S. GAAP requires the item to be reclassified in its entirety to net income. This new guidance is to be applied prospectively. The Company adopted ASU 2013-02 during the fourth quarter of 2012 with no impact on our financial position, results of operations or cash flows. | |
The_Transaction
The Transaction | 9 Months Ended |
Sep. 30, 2013 | |
The Transaction [Abstract] | ' |
The Transaction | ' |
(3) The Transaction: | |
On July 1, 2010, we acquired the defined assets and liabilities of the local exchange business and related landline activities of Verizon Communications Inc. (Verizon) in certain states (the Acquired Territories), including Internet access and long distance services and broadband video provided to designated customers in the Acquired Territories (the Acquired Business). Frontier was considered the acquirer of the Acquired Business for accounting purposes. | |
We accounted for our acquisition of 4.0 million access lines from Verizon (the Transaction) using the guidance included in ASC Topic 805. We incurred $4.5 million and $68.2 million of integration related costs in connection with the Transaction during the three and nine months ended September 30, 2012, respectively. Such costs are required to be expensed as incurred and are reflected in “Integration costs” in our consolidated statements of operations. All integration activities were completed as of the end of 2012. | |
Accounts_Receivable
Accounts Receivable | 9 Months Ended | ||||||
Sep. 30, 2013 | |||||||
Accounts Receivable [Abstract] | ' | ||||||
Accounts Receivable | ' | ||||||
(4) Accounts Receivable: | |||||||
The components of accounts receivable, net are as follows: | |||||||
($ in thousands) | 30-Sep-13 | 31-Dec-12 | |||||
Retail and Wholesale | $ | 515,743 | $ | 581,152 | |||
Other | 42,143 | 45,819 | |||||
Less: Allowance for doubtful accounts | -85,663 | -93,267 | |||||
Accounts receivable, net | $ | 472,223 | $ | 533,704 | |||
We maintain an allowance for bad debts based on our estimate of our ability to collect accounts receivable. Bad debt expense, which is recorded as a reduction to revenue, was $20.6 million and $20.8 million, and $52.9 million and $61.5 million for the three and nine months ended September 30, 2013 and 2012, respectively. | |||||||
Property_Plant_And_Equipment
Property, Plant And Equipment | 9 Months Ended | ||||||
Sep. 30, 2013 | |||||||
Property, Plant And Equipment [Abstract] | ' | ||||||
Property, Plant And Equipment | ' | ||||||
(5) Property, Plant and Equipment: | |||||||
Property, plant and equipment, net is as follows: | |||||||
($ in thousands) | 30-Sep-13 | 31-Dec-12 | |||||
Property, plant and equipment | $ | 14,710,342 | $ | 14,353,763 | |||
Less: Accumulated depreciation | -7,420,775 | -6,848,867 | |||||
Property, plant and equipment, net | $ | 7,289,567 | $ | 7,504,896 | |||
Depreciation expense is principally based on the composite group method. Depreciation expense was $208.7 million and $209.9 million, and $636.2 million and $628.8 million for the three and nine months ended September 30, 2013 and 2012, respectively. As a result of an independent study of the estimated remaining useful lives of our plant assets, we adopted new estimated remaining useful lives for certain plant assets as of October 1, 2012, with an immaterial impact to depreciation expense. | |||||||
Goodwill_And_Other_Intangibles
Goodwill And Other Intangibles | 9 Months Ended | ||||||
Sep. 30, 2013 | |||||||
Goodwill And Other Intangibles [Abstract] | ' | ||||||
Goodwill And Other Intangibles | ' | ||||||
(6) Goodwill and Other Intangibles: | |||||||
The components of goodwill by the reporting units in effect as of September 30, 2013 are as follows: | |||||||
($ in thousands) | |||||||
Central | $ | 1,815,498 | |||||
East | 2,003,574 | ||||||
National | 1,218,113 | ||||||
West | 1,300,534 | ||||||
Total Goodwill | $ | 6,337,719 | |||||
The components of other intangibles are as follows: | |||||||
($ in thousands) | 30-Sep-13 | 31-Dec-12 | |||||
Other Intangibles: | |||||||
Customer base | $ | 2,427,648 | $ | 2,427,648 | |||
Software licenses | 105,019 | 105,019 | |||||
Trade name and license | 124,136 | 124,419 | |||||
Other intangibles | 2,656,803 | 2,657,086 | |||||
Less: Accumulated amortization | -1,364,849 | -1,114,347 | |||||
Total other intangibles, net | $ | 1,291,954 | $ | 1,542,739 | |||
Amortization expense was $77.0 million and $88.5 million, and $251.0 million and $333.9 million for the three and nine months ended September 30, 2013 and 2012, respectively. Amortization expense primarily represents the amortization of intangible assets (primarily customer base) that were acquired in the Transaction based on a useful life of nine years for the residential customer base and 12 years for the business customer base, amortized on an accelerated method. Amortization expense included $38.3 million for the nine months ended September 30, 2012 for amortization associated with certain software licenses no longer required for operations as a result of the completed systems conversions and $11.3 million for the nine months ended September 30, 2012 for amortization associated with certain Frontier legacy properties, each of which were fully amortized in 2012. | |||||||
Fair_Value_Of_Financial_Instru
Fair Value Of Financial Instruments | 9 Months Ended | ||||||||||||
Sep. 30, 2013 | |||||||||||||
Fair Value Of Financial Instruments [Abstract] | ' | ||||||||||||
Fair Value Of Financial Instruments | ' | ||||||||||||
(7) Fair Value of Financial Instruments: | |||||||||||||
The following table summarizes the carrying amounts and estimated fair values for long-term debt at September 30, 2013 and December 31, 2012. For the other financial instruments including cash, accounts receivable, long-term debt due within one year, accounts payable and other current liabilities, the carrying amounts approximate fair value due to the relatively short maturities of those instruments. Other equity method investments, for which market values are not readily available, are carried at cost, which approximates fair value. | |||||||||||||
The fair value of our long-term debt is estimated based upon quoted market prices at the reporting date for those financial instruments. | |||||||||||||
($ in thousands) | 30-Sep-13 | 31-Dec-12 | |||||||||||
Carrying | Carrying | ||||||||||||
Amount | Fair Value | Amount | Fair Value | ||||||||||
Long-term debt | $ | 7,887,296 | $ | 8,136,170 | $ | 8,381,947 | $ | 9,091,416 | |||||
LongTerm_Debt
Long-Term Debt | 9 Months Ended | ||||||||||||||
Sep. 30, 2013 | |||||||||||||||
Long-Term Debt [Abstract] | ' | ||||||||||||||
Long-Term Debt | ' | ||||||||||||||
(8) Long-Term Debt: | |||||||||||||||
The activity in our long-term debt from December 31, 2012 to September 30, 2013 is summarized as follows: | |||||||||||||||
Nine months ended | |||||||||||||||
30-Sep-13 | Interest | ||||||||||||||
Rate at | |||||||||||||||
December 31, | Payments | New | September 30, | September 30, | |||||||||||
($ in thousands) | 2012 | and Retirements | Borrowings | 2013 | 2013 * | ||||||||||
Senior Unsecured Debt | $ | 8,919,696 | $ | -1,548,255 | $ | 750,000 | $ | 8,121,441 | 7.96% | ||||||
Industrial Development Revenue Bonds | 13,550 | - | - | 13,550 | 6.33% | ||||||||||
Rural Utilities Service Loan Contracts | 9,322 | -293 | - | 9,029 | 6.15% | ||||||||||
Total Long-Term Debt | $ | 8,942,568 | $ | -1,548,548 | $ | 750,000 | $ | 8,144,020 | 7.96% | ||||||
Less: Debt (Discount)/Premium | -71 | 1,186 | |||||||||||||
Less: Current Portion | -560,550 | -257,910 | |||||||||||||
$ | 8,381,947 | $ | 7,887,296 | ||||||||||||
* Interest rate includes amortization of debt issuance costs and debt premiums or discounts. The interest rates at September 30, 2013 represent a weighted average of multiple issuances. | |||||||||||||||
Additional information regarding our Senior Unsecured Debt is as follows: | |||||||||||||||
($ in thousands) | 30-Sep-13 | 31-Dec-12 | |||||||||||||
Principal | Interest | Principal | Interest | ||||||||||||
Outstanding | Rate | Outstanding | Rate | ||||||||||||
Senior Notes and Debentures Due: | |||||||||||||||
1/15/13 | $ | - | - | $ | 502,658 | 6.25% | |||||||||
5/1/14 | 200,000 | 8.25% | 200,000 | 8.25% | |||||||||||
3/15/15 | 105,026 | 6.63% | 300,000 | 6.63% | |||||||||||
4/15/15 | 96,872 | 7.88% | 374,803 | 7.88% | |||||||||||
10/14/2016 * | 474,375 | 3.055% (Variable) | 517,500 | 3.095% (Variable) | |||||||||||
4/15/17 | 606,874 | 8.25% | 1,040,685 | 8.25% | |||||||||||
10/1/18 | 582,739 | 8.13% | 600,000 | 8.13% | |||||||||||
3/15/19 | 434,000 | 7.12% | 434,000 | 7.12% | |||||||||||
4/15/20 | 1,021,505 | 8.50% | 1,100,000 | 8.50% | |||||||||||
7/1/21 | 500,000 | 9.25% | 500,000 | 9.25% | |||||||||||
4/15/22 | 500,000 | 8.75% | 500,000 | 8.75% | |||||||||||
1/15/23 | 850,000 | 7.12% | 850,000 | 7.12% | |||||||||||
4/15/24 | 750,000 | 7.63% | - | - | |||||||||||
11/1/25 | 138,000 | 7.00% | 138,000 | 7.00% | |||||||||||
8/15/26 | 1,739 | 6.80% | 1,739 | 6.80% | |||||||||||
1/15/27 | 345,858 | 7.88% | 345,858 | 7.88% | |||||||||||
8/15/31 | 945,325 | 9.00% | 945,325 | 9.00% | |||||||||||
10/1/34 | 628 | 7.68% | 628 | 7.68% | |||||||||||
7/1/35 | 125,000 | 7.45% | 125,000 | 7.45% | |||||||||||
10/1/46 | 193,500 | 7.05% | 193,500 | 7.05% | |||||||||||
7,871,441 | 8,669,696 | ||||||||||||||
Subsidiary Senior Notes and Debentures Due: | |||||||||||||||
2/15/2028 | 200,000 | 6.73% | 200,000 | 6.73% | |||||||||||
10/15/2029 | 50,000 | 8.40% | 50,000 | 8.40% | |||||||||||
Total | $ | 8,121,441 | 7.77% ** | $ | 8,919,696 | 7.69% ** | |||||||||
* Represents borrowings under the Credit Agreement with CoBank. | |||||||||||||||
** Interest rate represents a weighted average of the stated interest rates of multiple issuances. | |||||||||||||||
On April 10, 2013, the Company completed a registered debt offering of $750.0 million aggregate principal amount of 7.625% senior unsecured notes due 2024, issued at a price of 100% of their principal amount. We received net proceeds of $736.9 million from the offering after deducting underwriting fees. The Company used the net proceeds from the sale of the notes, together with cash on hand, to finance the cash tender offers discussed below. | |||||||||||||||
On April 10, 2013, the Company accepted for purchase $471.3 million aggregate principal amount of its senior notes tendered for total consideration of $532.4 million, consisting of $194.2 million aggregate principal amount of the 6.625% senior notes due 2015 (the March 2015 Notes), tendered for total consideration of $216.0 million, and $277.1 million aggregate principal amount of the 7.875% senior notes due 2015 (the April 2015 Notes), tendered for total consideration of $316.4 million. On April 24, 2013, the Company accepted for purchase $0.7 million aggregate principal amount of the March 2015 Notes, tendered for total consideration of $0.8 million, $0.8 million of the April 2015 Notes, tendered for total consideration of $0.9 million, and $225.0 million aggregate principal amount of the 8.250% senior notes due 2017 (the 2017 Notes), tendered for total consideration of $267.7 million. The repurchases in the debt tender offers for the senior notes resulted in a loss on the early extinguishment of debt of approximately $104.9 million, ($64.9 million or $0.06 per share after tax), which was recognized in the second quarter of 2013. | |||||||||||||||
Additionally, during the second quarter of 2013, the Company repurchased $208.8 million of the 2017 Notes in a privately negotiated transaction, along with $17.3 million of its 8.125% senior notes due 2018 and $78.5 million of its 8.500% senior notes due 2020 in open market repurchases. These transactions resulted in a loss on the early extinguishment of debt of $54.9 million ($34.0 million or $0.04 per share after tax), which was recognized in the second quarter of 2013. | |||||||||||||||
The Company has a credit agreement with CoBank, ACB, as administrative agent, lead arranger and a lender, and the other lenders party thereto, for a $575.0 million senior unsecured term loan with a final maturity of October 14, 2016 (the Credit Agreement). The entire loan was drawn upon execution of the Credit Agreement in October 2011. Repayment of the outstanding principal balance is made in quarterly installments in the amount of $14.4 million, which commenced on March 31, 2012, with the remaining outstanding principal balance to be repaid on the final maturity date. Borrowings under the Credit Agreement bear interest based on the margins over the Base Rate (as defined in the Credit Agreement) or LIBOR, at the election of the Company. Interest rate margins under the facility (ranging from 0.875% to 2.875% for Base Rate borrowings and 1.875% to 3.875% for LIBOR borrowings) are subject to adjustments based on the Total Leverage Ratio of the Company, as such term is defined in the Credit Agreement. The current pricing on this facility is LIBOR plus 2.875%. The maximum permitted leverage ratio is 4.5 times. | |||||||||||||||
On May 3, 2013, the Company entered into a new $750.0 million revolving credit facility (the Revolving Credit Facility) and terminated the Company’s previously existing revolving credit facility. As of September 30, 2013, no borrowings had been made under the Revolving Credit Facility. The terms of the Revolving Credit Facility are set forth in the credit agreement, dated as of May 3, 2013, among the Company, the Lenders party thereto, JPMorgan Chase Bank, N.A., as Administrative Agent and the joint lead arrangers, joint bookrunners, syndication agent and joint documentation agents named therein (the Revolving Credit Agreement). Associated commitment fees under the Revolving Credit Facility will vary from time to time depending on the Company’s debt rating (as defined in the Revolving Credit Agreement) and were 0.400% per annum as of September 30, 2013. The Revolving Credit Facility is scheduled to terminate on November 3, 2016. During the term of the Revolving Credit Facility, the Company may borrow, repay and reborrow funds, and may obtain letters of credit, subject to customary borrowing conditions. Loans under the Revolving Credit Facility will bear interest based on the alternate base rate or the adjusted LIBO rate (each as determined in the Revolving Credit Agreement), at the Company’s election, plus a margin based on the Company’s debt rating (ranging from 0.50% to 1.50% for alternate base rate borrowings and 1.50% to 2.50% for adjusted LIBOR borrowings). The current pricing on this facility would have been 1.0% or 2.0%, respectively, as of September 30, 2013. Letters of credit issued under the Revolving Credit Facility will also be subject to fees that vary depending on the Company’s debt rating. The Revolving Credit Facility is available for general corporate purposes but may not be used to fund dividend payments. The maximum permitted leverage ratio is 4.5 times. | |||||||||||||||
On September 8, 2010, the Company entered into a letter of credit facility as set forth in the Credit Agreement with the Lenders party thereto and Deutsche Bank AG, New York Branch (the Bank), as Administrative Agent and Issuing Bank (the Letter of Credit Agreement). An initial letter of credit for $190.0 million was issued to the West Virginia Public Service Commission to guarantee certain of our capital investment commitments in West Virginia in connection with the Transaction. The initial commitments under the Letter of Credit Agreement expired in September 2011, with the Bank exercising its option to extend $100.0 million of the commitments to September 2012. In September 2012, the Company entered into an amendment to the Letter of Credit Agreement to extend $40 million of the commitments. Two letters of credit were issued in September 2012, one for $20 million that expired in March 2013, and the other for $20 million that expired in September 2013. The Letter of Credit Agreement expired on September 20, 2013. | |||||||||||||||
As of September 30, 2013, we were in compliance with all of our debt and credit facility financial covenants. | |||||||||||||||
Our principal payments for the next five years are as follows as of September 30, 2013: | |||||||||||||||
Principal | |||||||||||||||
($ in thousands) | Payments | ||||||||||||||
2013 (remaining three months) | $ | 14,474 | |||||||||||||
2014 | $ | 257,916 | |||||||||||||
2015 | $ | 259,840 | |||||||||||||
2016 | $ | 345,466 | |||||||||||||
2017 | $ | 607,375 | |||||||||||||
2018 | $ | 583,273 | |||||||||||||
Income_Taxes
Income Taxes | 9 Months Ended | ||||||||||||
Sep. 30, 2013 | |||||||||||||
Income Taxes [Abstract] | ' | ||||||||||||
Income Taxes | ' | ||||||||||||
(9) Income Taxes: | |||||||||||||
The following is a reconciliation of the provision for income taxes computed at federal statutory rates to the effective rates: | |||||||||||||
For the three months ended | For the nine months ended | ||||||||||||
September 30, | September 30, | ||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||
Consolidated tax provision at federal statutory rate | 35.0 | % | 35.0 | % | 35.0 | % | 35.0 | % | |||||
State income tax provisions, net of federal income | |||||||||||||
tax benefit | -1.5 | 3.0 | -4.1 | 2.9 | |||||||||
Noncontrolling interest | - | -1.5 | - | -1.3 | |||||||||
Tax reserve adjustment | -1.3 | -5.6 | -6.6 | -3.2 | |||||||||
Changes in certain deferred tax balances | -11.5 | 2.0 | 1.5 | 1.1 | |||||||||
IRS audit adjustments | - | - | 7.3 | - | |||||||||
All other, net | -1.4 | 0.4 | -0.6 | 0.3 | |||||||||
Effective tax rate | 19.3 | % | 33.3 | % | 32.5 | % | 34.8 | % | |||||
Income taxes for the nine months ended September 30, 2013 include the impact of a charge of $5.2 million resulting from the settlement of the 2010 IRS audit and a $6.0 million charge resulting from the adjustment of deferred tax balances, partially offset by a $5.0 million benefit from the net reversal of reserves for uncertain tax positions and a $5.0 million benefit arising from state law changes that was recognized in the third quarter of 2013. | |||||||||||||
The amount of our uncertain tax positions for which the statutes of limitations are expected to expire during the next twelve months and which would affect our effective tax rate is $2.4 million as of September 30, 2013. | |||||||||||||
Net_Income_Per_Common_Share
Net Income Per Common Share | 9 Months Ended | |||||||||||
Sep. 30, 2013 | ||||||||||||
Net Income Per Common Share [Abstract] | ' | |||||||||||
Net Income Per Common Share | ' | |||||||||||
(10) Net Income Per Common Share: | ||||||||||||
The reconciliation of the net income per common share calculation is as follows: | ||||||||||||
For the three months ended | For the nine months ended | |||||||||||
($ and shares in thousands, except per share amounts) | September 30, | September 30, | ||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||
Net income used for basic and diluted earnings | ||||||||||||
per common share: | ||||||||||||
Net income attributable to common shareholders of Frontier | $ | 35,400 | $ | 67,000 | $ | 45,080 | $ | 111,757 | ||||
Less: Dividends paid on unvested restricted stock awards | -632 | -717 | -1,908 | -2,189 | ||||||||
Total basic and diluted net income attributable to common | ||||||||||||
shareholders of Frontier | $ | 34,768 | $ | 66,283 | $ | 43,172 | $ | 109,568 | ||||
Basic earnings per common share: | ||||||||||||
Total weighted average shares and unvested restricted stock | ||||||||||||
awards outstanding - basic | 999,826 | 998,488 | 999,017 | 997,437 | ||||||||
Less: Weighted average unvested restricted stock awards | -6,711 | -7,193 | -6,537 | -7,137 | ||||||||
Total weighted average shares outstanding - basic | 993,115 | 991,295 | 992,480 | 990,300 | ||||||||
Net income per share attributable to common | ||||||||||||
shareholders of Frontier | $ | 0.04 | $ | 0.07 | $ | 0.04 | $ | 0.11 | ||||
Diluted earnings per common share: | ||||||||||||
Total weighted average shares outstanding - basic | 993,115 | 991,295 | 992,480 | 990,300 | ||||||||
Effect of dilutive shares | 990 | 163 | 922 | 667 | ||||||||
Total weighted average shares outstanding - diluted | 994,105 | 991,458 | 993,402 | 990,967 | ||||||||
Net income per share attributable to common | ||||||||||||
shareholders of Frontier | $ | 0.04 | $ | 0.07 | $ | 0.04 | $ | 0.11 | ||||
Stock Options | ||||||||||||
For the three and nine months ended September 30, 2013, options to purchase 93,000 shares (at exercise prices ranging from $ 12.50 to $ 14.15) and for the three and nine months ended September 30, 2012, 540,000 shares (at exercise prices ranging from $8.19 to $14.15), issuable under employee compensation plans were excluded from the computation of diluted earnings per share (EPS) for those periods because the exercise prices were greater than the average market price of our common stock and, therefore, the effect would be antidilutive. In calculating diluted EPS, we apply the treasury stock method and include future unearned compensation as part of the assumed proceeds. | ||||||||||||
Stock Units | ||||||||||||
At September 30, 2013 and 2012, we had 1,141,963 and 788,165 stock units, respectively, issued under our Non-Employee Directors’ Deferred Fee Equity Plan (Deferred Fee Plan) and the Non-Employee Directors’ Equity Incentive Plan (Directors’ Equity Plan). These securities have not been included in the diluted income per share of common stock calculation for the three and nine months ended September 30, 2013 and 2012 because their inclusion would have an antidilutive effect. | ||||||||||||
Stock_Plans
Stock Plans | 9 Months Ended | ||||||||||
Sep. 30, 2013 | |||||||||||
Stock Plans [Abstract] | ' | ||||||||||
Stock Plans | ' | ||||||||||
(11) Stock Plans: | |||||||||||
At September 30, 2013, we had six stock-based compensation plans under which grants were made and awards remained outstanding. No further awards may be granted under four of the plans: the 1996 Equity Incentive Plan (the 1996 EIP), the Amended and Restated 2000 Equity Incentive Plan (the 2000 EIP), the 2009 Equity Incentive Plan (the 2009 EIP) and the Deferred Fee Plan. At September 30, 2013, there were 22,540,761 shares authorized for grant and 18,381,480 shares available for grant under the 2013 Equity Incentive Plan (the 2013 EIP) and the Directors’ Equity Plan. | |||||||||||
Performance Shares | |||||||||||
On February 15, 2012, the Company’s Compensation Committee, in consultation with the other non-management directors of the Company’s Board of Directors and the Committee’s independent executive compensation consultant, adopted the Frontier Long-Term Incentive Plan (the “LTIP”). LTIP awards are granted in the form of performance shares. The LTIP is currently offered under the Company’s 2009 EIP and 2013 EIP, and participants consist of senior vice presidents and above. The LTIP awards have performance, market and time-vesting conditions. | |||||||||||
Beginning in 2012, during the first 90 days of a three-year performance period (a “Measurement Period”), a target number of performance shares are awarded to each LTIP participant with respect to the Measurement Period. The performance metrics under the LTIP are (1) annual targets for operating cash flow based on a goal set during the first 90 days of each year in the three-year Measurement Period and (2) an overall performance “modifier” set during the first 90 days of the Measurement Period, based on the Company’s total return to stockholders (i.e., Total Shareholder Return or “TSR”) relative to the Integrated Telecommunications Services Group (GICS Code 50101020) for the three-year Measurement Period. Operating cash flow performance is determined at the end of each year and the annual results will be averaged at the end of the three-year Measurement Period to determine the preliminary number of shares earned under the LTIP award. The TSR performance measure is then applied to decrease or increase payouts based on the Company’s three year relative TSR performance. LTIP awards, to the extent earned, will be paid out in the form of common stock shortly following the end of the three-year Measurement Period. | |||||||||||
On February 15, 2012, the Compensation Committee granted 930,020 performance shares under the LTIP for the 2012-2014 Measurement Period and set the operating cash flow performance goal for the first year in that Measurement Period and the TSR modifier for the three-year Measurement Period. On February 27, 2013, the Compensation Committee approved 1,123,966 target performance shares under the LTIP for the 2013-2015 Measurement Period and set the operating cash flow performance goal for 2013, which applies to the first year of the 2013-2015 Measurement Period and the second year of the 2012-2014 Measurement Period. The performance share awards approved in February 2013 were granted upon stockholder approval of the Company’s 2013 EIP at the Annual Meeting of Stockholders held on May 8, 2013. The number of shares of common stock earned at the end of each three-year Measurement Period may be more or less than the number of target performance shares granted as a result of operating cash flow and TSR performance. An executive must maintain a satisfactory performance rating during the Measurement Period and must be employed by the Company at the end of the three-year Measurement Period in order for the award to vest. The Compensation Committee will determine the number of shares earned for each three year Measurement Period in February of the year following the end of the Measurement Period. | |||||||||||
The following summary presents information regarding LTIP target performance shares as of September 30, 2013 and changes during the nine months then ended: | |||||||||||
Number of | |||||||||||
Shares | |||||||||||
Balance at January 1, 2013 | 979,000 | ||||||||||
LTIP target performance shares granted | 1,124,000 | ||||||||||
LTIP target performance shares forfeited | -338,000 | ||||||||||
Balance at September 30, 2013 | 1,765,000 | ||||||||||
For the nine months ended September 30, 2013 and 2012, the Company recognized an expense of $0.8 million and $0.3 million, respectively, for the LTIP. | |||||||||||
Restricted Stock | |||||||||||
The following summary presents information regarding unvested restricted stock as of September 30, 2013 and changes during the nine months then ended with regard to restricted stock under the 2009 EIP and the 2013 EIP: | |||||||||||
Weighted | |||||||||||
Average | |||||||||||
Number of | Grant Date | Aggregate | |||||||||
Shares | Fair Value | Fair Value | |||||||||
Balance at January 1, 2013 | 7,049,000 | $ | 6.08 | $ | 30,169,000 | ||||||
Restricted stock granted | 3,355,000 | $ | 4.1 | $ | 14,024,000 | ||||||
Restricted stock vested | -3,090,000 | $ | 6.79 | $ | 12,916,000 | ||||||
Restricted stock forfeited | -1,013,000 | $ | 5.29 | ||||||||
Balance at September 30, 2013 | 6,301,000 | $ | 4.8 | $ | 26,340,000 | ||||||
For purposes of determining compensation expense, the fair value of each restricted stock grant is estimated based on the average of the high and low market price of a share of our common stock on the date of grant. Total remaining unrecognized compensation cost associated with unvested restricted stock awards at September 30, 2013 was $22.8 million and the weighted average period over which this cost is expected to be recognized is approximately two years. | |||||||||||
Shares granted during the first nine months of 2012 totaled 3,941,000. The total fair value of shares granted and vested during the nine months ended September 30, 2012 was approximately $19.4 million and $6.6 million, respectively. The total fair value of unvested restricted stock at September 30, 2012 was $35.3 million. The weighted average grant date fair value of restricted shares granted during the nine months ended September 30, 2012 was $4.17 per share. | |||||||||||
Stock Options | |||||||||||
The following summary presents information regarding outstanding stock options as of September 30, 2013 and changes during the nine months then ended with regard to options under the 2000 EIP and the 2009 EIP: | |||||||||||
Weighted | Weighted | ||||||||||
Shares | Average | Average | Aggregate | ||||||||
Subject to | Option Price | Remaining | Intrinsic | ||||||||
Option | Per Share | Life in Years | Value | ||||||||
Balance at January 1, 2013 | 540,000 | $ | 10.99 | 0.9 | $ | - | |||||
Options granted | - | $ | - | ||||||||
Options exercised | - | $ | - | ||||||||
Options canceled, forfeited or lapsed | -447,000 | $ | 10.54 | ||||||||
Balance at September 30, 2013 | 93,000 | $ | 13.20 | 2 | $ | - | |||||
Exercisable at September 30, 2013 | 93,000 | $ | 13.20 | 2 | $ | - | |||||
There were no stock options granted during the first nine months of 2012. There was no intrinsic value for the stock options outstanding and exercisable at September 30, 2012. | |||||||||||
Segment_Information
Segment Information | 9 Months Ended |
Sep. 30, 2013 | |
Segment Information [Abstract] | ' |
Segment Information | ' |
(12) Segment Information: | |
We operate in one reportable segment. Frontier provides both regulated and unregulated voice, data and video services to residential, business and wholesale customers and is typically the incumbent voice services provider in its service areas. | |
As permitted by U.S. GAAP, we have utilized the aggregation criteria to combine our operating segments because all of our Frontier properties share similar economic characteristics, in that they provide the same products and services to similar customers using comparable technologies in all of the states in which we operate. The regulatory structure is generally similar. Differences in the regulatory regime of a particular state do not materially impact the economic characteristics or operating results of a particular property. | |
Investment_Income
Investment Income | 9 Months Ended | ||||||||||||
Sep. 30, 2013 | |||||||||||||
Investment Income [Abstract] | ' | ||||||||||||
Investment Income | ' | ||||||||||||
(13) Investment Income: | |||||||||||||
The components of investment income are as follows: | |||||||||||||
For the three months ended September 30, | For the nine months ended September 30, | ||||||||||||
($ in thousands) | 2013 | 2012 | 2013 | 2012 | |||||||||
Interest and dividend income | $ | 382 | $ | 323 | $ | 2,268 | $ | 3,159 | |||||
Investment gain | - | - | 1,407 | 9,780 | |||||||||
Equity earnings (loss) | - | - | - | -522 | |||||||||
Total investment income | $ | 382 | $ | 323 | $ | 3,675 | $ | 12,417 | |||||
During the nine months ended September 30, 2013 and 2012, we recognized investment gains of $1.4 million and $9.8 million, respectively, associated with cash received in connection with our previously written-off investment in Adelphia. | |||||||||||||
Other_Income_Net
Other Income, Net | 9 Months Ended | ||||||||||||
Sep. 30, 2013 | |||||||||||||
Other Income, Net [Abstract] | ' | ||||||||||||
Other Income, Net | ' | ||||||||||||
(14) Other Income, Net: | |||||||||||||
The components of other income, net are as follows: | |||||||||||||
For the three months ended September 30, | For the nine months ended September 30, | ||||||||||||
($ in thousands) | 2013 | 2012 | 2013 | 2012 | |||||||||
Gain on expiration/settlement of customer advances | $ | 1,393 | $ | 4,335 | $ | 3,345 | $ | 7,798 | |||||
Split dollar life insurance proceeds | - | - | 2,263 | - | |||||||||
All other, net | -251 | -56 | -149 | -1,221 | |||||||||
Total other income, net | $ | 1,142 | $ | 4,279 | $ | 5,459 | $ | 6,577 | |||||
Comprehensive_Income
Comprehensive Income | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Comprehensive Income [Abstract] | ' | |||||||||||||||
Comprehensive Income | ' | |||||||||||||||
(15) Comprehensive Income: | ||||||||||||||||
Comprehensive income consists of net income and other gains and losses affecting shareholders’ investment and pension/postretirement benefit (OPEB) liabilities that, under U.S. GAAP, are excluded from net income. | ||||||||||||||||
The components of accumulated other comprehensive loss, net of tax at September 30, 2013 and 2012, and changes for the nine months then ended, are as follows: | ||||||||||||||||
($ in thousands) | Pension Costs | OPEB Costs | Deferred taxes on pension and OPEB costs | All other | Total | |||||||||||
Balance at January 1, 2013 | $ | -697,874 | $ | -74,264 | $ | 288,712 | $ | -150 | $ | -483,576 | ||||||
Other comprehensive income before reclassifications | 133 | -267 | -227 | 2 | -359 | |||||||||||
Amounts reclassified from accumulated other comprehensive loss | 30,948 | 1,575 | -12,359 | - | 20,164 | |||||||||||
Recognition of net actuarial loss for pension settlement costs | 40,309 | - | -15,317 | - | 24,992 | |||||||||||
Net current-period other comprehensive income (loss) | 71,390 | 1,308 | -27,903 | 2 | 44,797 | |||||||||||
Balance at September 30, 2013 | $ | -626,484 | $ | -72,956 | $ | 260,809 | $ | -148 | $ | -438,779 | ||||||
($ in thousands) | Pension Costs | OPEB Costs | Deferred taxes on pension and OPEB costs | All other | Total | |||||||||||
Balance at January 1, 2012 | $ | -575,163 | $ | -41,811 | $ | 230,161 | $ | -150 | $ | -386,963 | ||||||
Other comprehensive income before reclassifications | - | - | -489 | 2 | -487 | |||||||||||
Amounts reclassified from accumulated other comprehensive loss | 22,268 | -1,898 | -7,741 | - | 12,629 | |||||||||||
Net current-period other comprehensive income (loss) | 22,268 | -1,898 | -8,230 | 2 | 12,142 | |||||||||||
Balance at September 30, 2012 | $ | -552,895 | $ | -43,709 | $ | 221,931 | $ | -148 | $ | -374,821 | ||||||
The significant items reclassified from each component of accumulated other comprehensive loss for the three and nine months ended September 30, 2013 and 2012 are as follows: | ||||||||||||||||
($ in thousands) | Amount Reclassified from | |||||||||||||||
Accumulated Other Comprehensive Loss (a) | ||||||||||||||||
Details about Accumulated Other Comprehensive Loss Components | Three months ended September 30, 2013 | Three months ended September 30, 2012 | Nine months ended September 30, 2013 | Nine months ended September 30, 2012 | Affected Line Item in the Statement Where Net Income is Presented | |||||||||||
Amortization of Pension Cost Items (b) | ||||||||||||||||
Prior-service costs | $ | -2 | $ | 50 | $ | -6 | $ | 150 | ||||||||
Actuarial gains/(losses) | -10,798 | -6,845 | -30,942 | -22,418 | ||||||||||||
Pension settlement costs | -40,309 | - | -40,309 | - | ||||||||||||
-51,109 | -6,795 | -71,257 | -22,268 | Income before income taxes | ||||||||||||
Tax impact | 19,421 | 2,582 | 27,078 | 8,462 | Income tax (expense) benefit | |||||||||||
$ | -31,688 | $ | -4,213 | $ | -44,179 | $ | -13,806 | Net income | ||||||||
Amortization of Postretirement Cost Items (b) | ||||||||||||||||
Prior-service costs | $ | 1,526 | $ | 2,545 | $ | 4,576 | $ | 7,551 | ||||||||
Actuarial gains/(losses) | -1,695 | -1,831 | -6,151 | -5,653 | ||||||||||||
-169 | 714 | -1,575 | 1,898 | Income before income taxes | ||||||||||||
Tax impact | 64 | -271 | 598 | -721 | Income tax (expense) benefit | |||||||||||
$ | -105 | $ | 443 | $ | -977 | $ | 1,177 | Net income | ||||||||
(a) Amounts in parentheses indicate losses. | ||||||||||||||||
(b) These accumulated other comprehensive loss components are included in the computation of net periodic pension and postretirement benefit cost (see Note 16 - Retirement Plans for additional details). | ||||||||||||||||
Retirement_Plans
Retirement Plans | 9 Months Ended | ||||||||||||
Sep. 30, 2013 | |||||||||||||
Retirement Plans [Abstract] | ' | ||||||||||||
Retirement Plans | ' | ||||||||||||
(16) Retirement Plans: | |||||||||||||
The following tables provide the components of net periodic benefit cost: | |||||||||||||
Pension Benefits | Pension Benefits | ||||||||||||
For the three months ended | For the nine months ended | ||||||||||||
September 30, | September 30, | ||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||
($ in thousands) | |||||||||||||
Components of net periodic pension benefit cost | |||||||||||||
Service cost | $ | 12,141 | $ | 11,782 | $ | 37,809 | $ | 32,766 | |||||
Interest cost on projected benefit obligation | 18,827 | 19,204 | 56,587 | 58,520 | |||||||||
Expected return on plan assets | -23,585 | -23,655 | -72,765 | -71,832 | |||||||||
Amortization of prior service cost /(credit) | 2 | -50 | 6 | -150 | |||||||||
Amortization of unrecognized loss | 10,798 | 6,845 | 30,942 | 22,418 | |||||||||
Net periodic pension benefit cost | 18,183 | 14,126 | 52,579 | 41,722 | |||||||||
Pension settlement costs | 40,309 | - | 40,309 | - | |||||||||
Total periodic pension benefit cost | $ | 58,492 | $ | 14,126 | $ | 92,888 | $ | 41,722 | |||||
Postretirement Benefits | Postretirement Benefits | ||||||||||||
Other Than Pensions (OPEB) | Other Than Pensions (OPEB) | ||||||||||||
For the three months ended | For the nine months ended | ||||||||||||
September 30, | September 30, | ||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||
($ in thousands) | |||||||||||||
Components of net periodic postretirement benefit cost | |||||||||||||
Service cost | $ | 3,088 | $ | 2,999 | $ | 9,446 | $ | 8,109 | |||||
Interest cost on projected benefit obligation | 4,181 | 4,462 | 13,061 | 13,382 | |||||||||
Expected return on plan assets | -25 | -20 | -111 | -130 | |||||||||
Amortization of prior service cost/(credit) | -1,526 | -2,545 | -4,576 | -7,551 | |||||||||
Amortization of unrecognized loss | 1,695 | 1,831 | 6,151 | 5,653 | |||||||||
Net periodic postretirement benefit cost | $ | 7,413 | $ | 6,727 | $ | 23,971 | $ | 19,463 | |||||
During the first nine months of 2013 and 2012, we capitalized $14.9 million and $11.7 million, respectively, of pension and OPEB expense into the cost of our capital expenditures, as the costs relate to our engineering and plant construction activities. Based on current assumptions and plan asset values, we estimate that our 2013 pension and OPEB expenses will be approximately $100 million, excluding the impact of lump sum settlement accounting, as discussed below, and before amounts capitalized into the cost of capital expenditures (they were $81.6 million in 2012 before amounts capitalized into the cost of capital expenditures). | |||||||||||||
Our pension plan contains provisions that provide certain employees with the option of receiving lump sum payment upon retirement. The Company’s accounting policy is to record these payments as a settlement only if, in the aggregate, they exceed the sum of the annual service and interest costs for the plan’s net periodic pension benefit cost. During the nine months ended September 30, 2013, lump sum pension settlement payments to terminated or retired individuals amounted to $149.0 million, which exceeded the settlement threshold of $125.4 million, and as a result, the Company was required to recognize a non-cash settlement charge of $40.3 million during the third quarter of 2013. The non-cash charge was required to accelerate the recognition of a portion of the previously unrecognized actuarial losses in the pension plan. This non-cash charge reduced our recorded net income and retained earnings, with an offset to accumulated other comprehensive loss in shareholders’ equity of Frontier. Because the cash settlement annual threshold of $125.4 million was exceeded in the third quarter, additional pension settlement charges will be required in the fourth quarter of 2013. The amount of the non-cash settlement charge to be recorded will be dependent on the level of lump sum benefit payments made in the fourth quarter of 2013. As a result of the recognition of the settlement charge in the third quarter of 2013, the net pension plan liability was remeasured as of September 30, 2013 to be $447.8 million, as compared to the $697.9 million measured and recorded at December 31, 2012. The remeasured funded status of the pension plan would be 71% as of September 30, 2013 as compared to 64% as of December 31, 2012. The Company did not record any adjustment to the pension plan liability, beyond the settlement charge, as a result of this remeasurement. The net pension liability will be remeasured and the appropriate adjustments will be recorded in the fourth quarter of 2013. | |||||||||||||
On September 12, 2013, the Company contributed three real estate properties to its qualified defined benefit pension plan. None of the buildings were under state regulation that required individual public utility commission approval. The pension plan obtained independent appraisals of the properties and, based on these appraisals, the pension plan recorded the contributions at their fair value of $18.2 million. The Company has entered into leases for the contributed properties for 15 years at a combined aggregate annual rent of approximately $1.6 million. The properties are managed on behalf of the pension plan by an independent fiduciary, and the terms of the leases were negotiated with the fiduciary on an arm’s-length basis. | |||||||||||||
The contribution and leaseback of the properties was treated as a financing transaction and, accordingly, the Company will continue to depreciate the carrying value of the properties in its financial statements and no gain or loss was recognized. An obligation of $18.2 million was recorded in our consolidated balance sheet within “Other liabilities” for $18.1 million and within “Other current liabilities” for $0.1 million and these liabilities will be reduced by a portion of the lease payments made to the pension plan. | |||||||||||||
We made total contributions to our pension plan during the nine months ended September 30, 2013 of $57.1 million, consisting of cash payments of $38.9 million and the contribution of real property with a fair value of $18.2 million, as described above. An additional real property contribution with a fair value of $5.2 million was made in October 2013, for a total contribution of $62.3 million in 2013. There are no further contributions required in 2013. | |||||||||||||
The Company’s pension plan assets have decreased from $1,253.6 million at December 31, 2012 to $1,181.1 million at September 30, 2013, a decrease of $72.5 million, or 6%. This decrease is a result of benefit payments of $194.7 million (primarily $149.0 million of lump sum settlements), offset by positive investment returns of $65.1 million, cash contributions of $38.9 million and real property contributions of $18.2 million during the first nine months of 2013. | |||||||||||||
Commitments_And_Contingencies
Commitments And Contingencies | 9 Months Ended |
Sep. 30, 2013 | |
Commitments And Contingencies [Abstract] | ' |
Commitments And Contingencies | ' |
(17) Commitments and Contingencies: | |
We anticipate total capital expenditures for business operations of approximately $625 million to $675 million for 2013, excluding the expenditure of funds previously received from the Connect America Fund program, as described herein. Although we from time to time make short-term purchasing commitments to vendors with respect to these expenditures, we generally do not enter into firm, written contracts for such activities. | |
In connection with the Transaction, the Federal Communications Commission (FCC) and certain state regulatory commissions, in connection with granting their approvals of the Transaction, specified certain capital expenditure and operating requirements for the Acquired Territories for specified periods of time post-closing. These requirements focus primarily on certain capital investment commitments to expand broadband availability to at least 85% of the households throughout the Acquired Territories with minimum download speeds of 3 megabits per second (Mbps) by the end of 2013 and 4 Mbps by the end of 2015. As of September 30, 2013, we had expanded broadband availability in excess of 3 Mbps to 84.7% of the households throughout the Acquired Territories, and in excess of 4 Mbps to 82.6% of the households throughout the Acquired Territories. | |
To satisfy all or part of certain capital investment commitments to three state regulatory commissions, we placed an aggregate amount of $115.0 million in cash into escrow accounts and obtained a letter of credit for $190 million in 2010. Another $72.4 million of cash in an escrow account (with a cash balance of $9.3 million as of September 30, 2013) was acquired in connection with the Transaction to be used for service quality initiatives in the state of West Virginia. As of September 30, 2013, $166.8 million had been released from the escrow accounts and the Company had a restricted cash balance in these escrow accounts in the aggregate amount of $20.9 million, including interest earned. In September 2013, the letter of credit for the remaining $20 million expired. The aggregate amount of these escrow accounts will continue to decrease over time as Frontier makes the required capital expenditures in the respective states. | |
In our normal course of business, we have obligations under certain non-cancelable arrangements for services. During 2012, we entered into a “take or pay” arrangement for the purchase of future long distance and carrier services. Our total commitments under the arrangement are $128.0 million, $145.8 million and $140.8 million for the years ending December 31, 2013, 2014 and 2015, respectively. As of September 30, 2013, we expect to utilize the services included within the arrangement and no liability for the “take or pay” provision has been recorded. | |
During 2012, the Company entered into an agreement to upgrade a significant portion of its existing vehicle fleet. The Company has accepted approximately 3,700 new vehicles through September 30, 2013, which substantially completes our initial commitment under this program. The new vehicles leased under this program represent approximately 50% of our vehicle fleet. The total minimum lease commitment for each vehicle is one year and the leases are renewable at the Company’s option. The total annual lease expense for the initial vehicle order is expected to be approximately $30.0 million on an annualized basis. The Company expects to lease additional vehicles under this program in future periods as vehicles within our fleet need to be replaced. | |
We are party to various legal proceedings (including individual, class and putative class actions) arising in the normal course of our business covering a wide range of matters and types of claims including, but not limited to, general contracts, billing disputes, rights of access, taxes and surcharges, consumer protection, trademark and patent infringement, employment, regulatory, tort, claims of competitors and disputes with other carriers. | |
In accordance with U.S. GAAP, we accrue an expense for pending litigation when we determine that an unfavorable outcome is probable and the amount of the loss can be reasonably estimated. Legal defense costs are expensed as incurred. None of our existing accruals for pending matters is material. We constantly monitor our pending litigation for the purpose of adjusting our accruals and revising our disclosures accordingly, in accordance with U.S. GAAP, when required. Litigation is, however, subject to uncertainty, and the outcome of any particular matter is not predictable. We will vigorously defend our interests for pending litigation, and as of this date, we believe that the ultimate resolution of all such matters, after considering insurance coverage or other indemnities to which we are entitled, will not have a material adverse effect on our consolidated financial position, results of operations, or our cash flows. | |
We sold all of our utility businesses as of April 1, 2004. However, we have retained a potential payment obligation associated with our previous electric utility activities in the State of Vermont. The Vermont Joint Owners (VJO), a consortium of 14 Vermont utilities, including us, entered into a purchase power agreement with Hydro-Quebec in 1987. The agreement contains “step-up” provisions that state if any VJO member defaults on its purchase obligation under the contract to purchase power from Hydro-Quebec, then the other VJO participants will assume responsibility for the defaulting party’s share on a pro-rata basis. Our pro-rata share of the purchase power obligation is 10%. If any member of the VJO defaults on its obligations under the Hydro-Quebec agreement, then the remaining members of the VJO, including us, may be required to pay for a substantially larger share of the VJO’s total purchase power obligation for the remainder of the agreement (which runs through 2015). U.S. GAAP rules require that we disclose “the maximum potential amount of future payments (undiscounted) the guarantor could be required to make under the guarantee.” U.S. GAAP rules also state that we must make such disclosure “… even if the likelihood of the guarantor’s having to make any payments under the guarantee is remote…” As noted above, our obligation only arises as a result of default by another VJO member, such as upon bankruptcy. Therefore, to satisfy the “maximum potential amount” disclosure requirement we must assume that all members of the VJO simultaneously default, an unlikely scenario given that all VJO members are regulated utility providers with regulated cost recovery. Despite the remote chance that such an event could occur, or that the State of Vermont could or would allow such an event, assuming that all the members of the VJO defaulted on January 1, 2013 and remained in default for the duration of the contract (another 3 years), we estimate that our undiscounted purchase obligation for 2013 through 2015 would be approximately $431.1 million. In such a scenario, the Company would then own the power and could seek to recover its costs. We would do this by seeking to recover our costs from the defaulting members and/or reselling the power to other utility providers or the northeast power grid. There is an active market for the sale of power. We could potentially lose money if we were unable to sell the power at cost. We caution that we cannot predict with any degree of certainty any potential outcome. | |
Subsequent_Events
Subsequent Events | 9 Months Ended |
Sep. 30, 2013 | |
Subsequent Events [Abstract] | ' |
Subsequent Events | ' |
(18) Subsequent Events: | |
On October 11, 2013, the Company contributed one real estate property to its qualified defined benefit pension plan. The pension plan recorded the contribution at its fair value of $5.2 million and the Company entered into a lease for the contributed property for 15 years. | |
Summary_Of_Significant_Account1
Summary Of Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2013 | |
Summary Of Significant Accounting Policies [Abstract] | ' |
Basis of Presentation and Use of Estimates | ' |
(a) Basis of Presentation and Use of Estimates: | |
Frontier Communications Corporation and its subsidiaries are referred to as “we,” “us,” “our,” “Frontier,” or the “Company” in this report. Our interim unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP) and should be read in conjunction with the consolidated financial statements and notes included in our Annual Report on Form 10-K for the year ended December 31, 2012. All significant intercompany balances and transactions have been eliminated in consolidation. These interim unaudited consolidated financial statements include all adjustments (consisting of normal recurring accruals) considered necessary, in the opinion of Frontier’s management, to present fairly the results for the interim periods shown. Revenues, net income and cash flows for any interim periods are not necessarily indicative of results that may be expected for the full year. For our interim financial statements as of and for the period ended September 30, 2013, we evaluated subsequent events and transactions for potential recognition or disclosure through the date that we filed this quarterly report on Form 10-Q with the Securities and Exchange Commission (SEC). | |
Frontier had a 33⅓% controlling general partner interest in a partnership entity, the Mohave Cellular Limited Partnership (Mohave). Mohave’s results of operations and balance sheet were included in our consolidated financial statements through its date of disposal on April 1, 2013. The minority interest of the limited partners was reflected in the consolidated balance sheet as “Noncontrolling interest in a partnership” and in the consolidated statements of operations as “Income attributable to the noncontrolling interest in a partnership.” On April 1, 2013, the Company sold its partnership interest in Mohave. The Company recognized a gain on sale of approximately $14.6 million before taxes in the second quarter of 2013. | |
The preparation of our interim financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect (i) the reported amounts of assets and liabilities at the date of the financial statements, (ii) the disclosure of contingent assets and liabilities, and (iii) the reported amounts of revenue and expenses during the reporting period. Actual results may differ from those estimates. Estimates and judgments are used when accounting for revenue recognition (allowance for doubtful accounts), impairment of long-lived assets, intangible assets, depreciation and amortization, income taxes, purchase price allocations, contingencies, and pension and other postretirement benefits, among others. Certain information and footnote disclosures have been excluded and/or condensed pursuant to SEC rules and regulations. | |
Revenue Recognition | ' |
(b) Revenue Recognition: | |
Revenue is recognized when services are provided or when products are delivered to customers. Revenue that is billed in advance includes: monthly recurring network access services (including data services), special access services and monthly recurring voice, video and related charges. The unearned portion of these fees is initially deferred as a component of current liabilities on our consolidated balance sheet and recognized as revenue over the period that the services are provided. Revenue that is billed in arrears includes: non-recurring network access services (including data services), switched access services, non-recurring voice and video services. The earned but unbilled portion of these fees is recognized as revenue in our consolidated statements of operations and accrued in accounts receivable in the period that the services are provided. Excise taxes are recognized as a liability when billed. Installation fees and their related direct and incremental costs are initially deferred and recognized as revenue and expense over the average term of a customer relationship. We recognize as current period expense the portion of installation costs that exceeds installation fee revenue. | |
As required by law, the Company collects various taxes from its customers and subsequently remits these taxes to governmental authorities. Substantially all of these taxes are recorded through the consolidated balance sheet and presented on a net basis in our consolidated statements of operations. We also collect Universal Service Fund (USF) surcharges from customers (primarily federal USF) that we have recorded on a gross basis in our consolidated statements of operations and included within “Revenue” and “Other operating expenses” of $28.6 million and $29.0 million, and $86.6 million and $87.5 million, for the three and nine months ended September 30, 2013 and 2012, respectively. | |
Goodwill and Other Intangibles | ' |
(c) Goodwill and Other Intangibles: | |
Intangibles represent the excess of purchase price over the fair value of identifiable tangible net assets acquired. We undertake studies to determine the fair values of assets and liabilities acquired and allocate purchase prices to assets and liabilities, including property, plant and equipment, goodwill and other identifiable intangibles. We annually (during the fourth quarter) or more frequently, if appropriate, examine the carrying value of our goodwill and trade name to determine whether there are any impairment losses. We test for goodwill impairment at the “operating segment” level, as that term is defined in U.S. GAAP. During the first quarter of 2013, the Company reorganized into four regional operating segments. Our operating segments consist of the following regions: Central, East, National and West. Our regional operating segments are aggregated into one reportable segment. In conjunction with the reorganization of our operating segments effective with the first quarter of 2013, we reassigned goodwill to our reporting units using a relative fair value allocation approach. | |
The Company amortizes finite-lived intangible assets over their estimated useful lives and reviews such intangible assets at least annually (during the fourth quarter) to assess whether any potential impairment exists and whether factors exist that would necessitate a change in useful life and a different amortization period. | |
Accounts_Receivable_Tables
Accounts Receivable (Tables) | 9 Months Ended | ||||||
Sep. 30, 2013 | |||||||
Accounts Receivable [Abstract] | ' | ||||||
Accounts Receivable | ' | ||||||
($ in thousands) | 30-Sep-13 | 31-Dec-12 | |||||
Retail and Wholesale | $ | 515,743 | $ | 581,152 | |||
Other | 42,143 | 45,819 | |||||
Less: Allowance for doubtful accounts | -85,663 | -93,267 | |||||
Accounts receivable, net | $ | 472,223 | $ | 533,704 | |||
Property_Plant_And_Equipment_T
Property, Plant And Equipment (Tables) | 9 Months Ended | ||||||
Sep. 30, 2013 | |||||||
Property, Plant And Equipment [Abstract] | ' | ||||||
Property, Plant And Equipment, Net | ' | ||||||
($ in thousands) | 30-Sep-13 | 31-Dec-12 | |||||
Property, plant and equipment | $ | 14,710,342 | $ | 14,353,763 | |||
Less: Accumulated depreciation | -7,420,775 | -6,848,867 | |||||
Property, plant and equipment, net | $ | 7,289,567 | $ | 7,504,896 | |||
Goodwill_And_Other_Intangibles1
Goodwill And Other Intangibles (Tables) | 9 Months Ended | ||||||
Sep. 30, 2013 | |||||||
Goodwill And Other Intangibles [Abstract] | ' | ||||||
Components Of Goodwill By Reporting Units | ' | ||||||
($ in thousands) | |||||||
Central | $ | 1,815,498 | |||||
East | 2,003,574 | ||||||
National | 1,218,113 | ||||||
West | 1,300,534 | ||||||
Total Goodwill | $ | 6,337,719 | |||||
Components Of Other Intangibles | ' | ||||||
($ in thousands) | 30-Sep-13 | 31-Dec-12 | |||||
Other Intangibles: | |||||||
Customer base | $ | 2,427,648 | $ | 2,427,648 | |||
Software licenses | 105,019 | 105,019 | |||||
Trade name and license | 124,136 | 124,419 | |||||
Other intangibles | 2,656,803 | 2,657,086 | |||||
Less: Accumulated amortization | -1,364,849 | -1,114,347 | |||||
Total other intangibles, net | $ | 1,291,954 | $ | 1,542,739 | |||
Fair_Value_Of_Financial_Instru1
Fair Value Of Financial Instruments (Tables) | 9 Months Ended | ||||||||||||
Sep. 30, 2013 | |||||||||||||
Fair Value Of Financial Instruments [Abstract] | ' | ||||||||||||
Fair Value Of Long-Term Debt | ' | ||||||||||||
($ in thousands) | 30-Sep-13 | 31-Dec-12 | |||||||||||
Carrying | Carrying | ||||||||||||
Amount | Fair Value | Amount | Fair Value | ||||||||||
Long-term debt | $ | 7,887,296 | $ | 8,136,170 | $ | 8,381,947 | $ | 9,091,416 | |||||
LongTerm_Debt_Tables
Long-Term Debt (Tables) | 9 Months Ended | ||||||||||||||
Sep. 30, 2013 | |||||||||||||||
Long-Term Debt [Abstract] | ' | ||||||||||||||
Long-Term Debt | ' | ||||||||||||||
Nine months ended | |||||||||||||||
30-Sep-13 | Interest | ||||||||||||||
Rate at | |||||||||||||||
December 31, | Payments | New | September 30, | September 30, | |||||||||||
($ in thousands) | 2012 | and Retirements | Borrowings | 2013 | 2013 * | ||||||||||
Senior Unsecured Debt | $ | 8,919,696 | $ | -1,548,255 | $ | 750,000 | $ | 8,121,441 | 7.96% | ||||||
Industrial Development Revenue Bonds | 13,550 | - | - | 13,550 | 6.33% | ||||||||||
Rural Utilities Service Loan Contracts | 9,322 | -293 | - | 9,029 | 6.15% | ||||||||||
Total Long-Term Debt | $ | 8,942,568 | $ | -1,548,548 | $ | 750,000 | $ | 8,144,020 | 7.96% | ||||||
Less: Debt (Discount)/Premium | -71 | 1,186 | |||||||||||||
Less: Current Portion | -560,550 | -257,910 | |||||||||||||
$ | 8,381,947 | $ | 7,887,296 | ||||||||||||
* Interest rate includes amortization of debt issuance costs and debt premiums or discounts. The interest rates at September 30, 2013 represent a weighted average of multiple issuances. | |||||||||||||||
Senior Unsecured Debt | ' | ||||||||||||||
($ in thousands) | 30-Sep-13 | 31-Dec-12 | |||||||||||||
Principal | Interest | Principal | Interest | ||||||||||||
Outstanding | Rate | Outstanding | Rate | ||||||||||||
Senior Notes and Debentures Due: | |||||||||||||||
1/15/13 | $ | - | - | $ | 502,658 | 6.25% | |||||||||
5/1/14 | 200,000 | 8.25% | 200,000 | 8.25% | |||||||||||
3/15/15 | 105,026 | 6.63% | 300,000 | 6.63% | |||||||||||
4/15/15 | 96,872 | 7.88% | 374,803 | 7.88% | |||||||||||
10/14/2016 * | 474,375 | 3.055% (Variable) | 517,500 | 3.095% (Variable) | |||||||||||
4/15/17 | 606,874 | 8.25% | 1,040,685 | 8.25% | |||||||||||
10/1/18 | 582,739 | 8.13% | 600,000 | 8.13% | |||||||||||
3/15/19 | 434,000 | 7.12% | 434,000 | 7.12% | |||||||||||
4/15/20 | 1,021,505 | 8.50% | 1,100,000 | 8.50% | |||||||||||
7/1/21 | 500,000 | 9.25% | 500,000 | 9.25% | |||||||||||
4/15/22 | 500,000 | 8.75% | 500,000 | 8.75% | |||||||||||
1/15/23 | 850,000 | 7.12% | 850,000 | 7.12% | |||||||||||
4/15/24 | 750,000 | 7.63% | - | - | |||||||||||
11/1/25 | 138,000 | 7.00% | 138,000 | 7.00% | |||||||||||
8/15/26 | 1,739 | 6.80% | 1,739 | 6.80% | |||||||||||
1/15/27 | 345,858 | 7.88% | 345,858 | 7.88% | |||||||||||
8/15/31 | 945,325 | 9.00% | 945,325 | 9.00% | |||||||||||
10/1/34 | 628 | 7.68% | 628 | 7.68% | |||||||||||
7/1/35 | 125,000 | 7.45% | 125,000 | 7.45% | |||||||||||
10/1/46 | 193,500 | 7.05% | 193,500 | 7.05% | |||||||||||
7,871,441 | 8,669,696 | ||||||||||||||
Subsidiary Senior Notes and Debentures Due: | |||||||||||||||
2/15/2028 | 200,000 | 6.73% | 200,000 | 6.73% | |||||||||||
10/15/2029 | 50,000 | 8.40% | 50,000 | 8.40% | |||||||||||
Total | $ | 8,121,441 | 7.77% ** | $ | 8,919,696 | 7.69% ** | |||||||||
* Represents borrowings under the Credit Agreement with CoBank. | |||||||||||||||
** Interest rate represents a weighted average of the stated interest rates of multiple issuances. | |||||||||||||||
Debt Maturities by Year | ' | ||||||||||||||
Principal | |||||||||||||||
($ in thousands) | Payments | ||||||||||||||
2013 (remaining three months) | $ | 14,474 | |||||||||||||
2014 | $ | 257,916 | |||||||||||||
2015 | $ | 259,840 | |||||||||||||
2016 | $ | 345,466 | |||||||||||||
2017 | $ | 607,375 | |||||||||||||
2018 | $ | 583,273 | |||||||||||||
Income_Taxes_Tables
Income Taxes (Tables) | 9 Months Ended | ||||||||||||
Sep. 30, 2013 | |||||||||||||
Income Taxes [Abstract] | ' | ||||||||||||
Reconciliation Of Provision For Income Taxes | ' | ||||||||||||
For the three months ended | For the nine months ended | ||||||||||||
September 30, | September 30, | ||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||
Consolidated tax provision at federal statutory rate | 35.0 | % | 35.0 | % | 35.0 | % | 35.0 | % | |||||
State income tax provisions, net of federal income | |||||||||||||
tax benefit | -1.5 | 3.0 | -4.1 | 2.9 | |||||||||
Noncontrolling interest | - | -1.5 | - | -1.3 | |||||||||
Tax reserve adjustment | -1.3 | -5.6 | -6.6 | -3.2 | |||||||||
Changes in certain deferred tax balances | -11.5 | 2.0 | 1.5 | 1.1 | |||||||||
IRS audit adjustments | - | - | 7.3 | - | |||||||||
All other, net | -1.4 | 0.4 | -0.6 | 0.3 | |||||||||
Effective tax rate | 19.3 | % | 33.3 | % | 32.5 | % | 34.8 | % | |||||
Net_Income_Per_Common_Share_Ta
Net Income Per Common Share (Tables) | 9 Months Ended | |||||||||||
Sep. 30, 2013 | ||||||||||||
Net Income Per Common Share [Abstract] | ' | |||||||||||
Calculation Of Net Income Per Common Share | ' | |||||||||||
For the three months ended | For the nine months ended | |||||||||||
($ and shares in thousands, except per share amounts) | September 30, | September 30, | ||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||
Net income used for basic and diluted earnings | ||||||||||||
per common share: | ||||||||||||
Net income attributable to common shareholders of Frontier | $ | 35,400 | $ | 67,000 | $ | 45,080 | $ | 111,757 | ||||
Less: Dividends paid on unvested restricted stock awards | -632 | -717 | -1,908 | -2,189 | ||||||||
Total basic and diluted net income attributable to common | ||||||||||||
shareholders of Frontier | $ | 34,768 | $ | 66,283 | $ | 43,172 | $ | 109,568 | ||||
Basic earnings per common share: | ||||||||||||
Total weighted average shares and unvested restricted stock | ||||||||||||
awards outstanding - basic | 999,826 | 998,488 | 999,017 | 997,437 | ||||||||
Less: Weighted average unvested restricted stock awards | -6,711 | -7,193 | -6,537 | -7,137 | ||||||||
Total weighted average shares outstanding - basic | 993,115 | 991,295 | 992,480 | 990,300 | ||||||||
Net income per share attributable to common | ||||||||||||
shareholders of Frontier | $ | 0.04 | $ | 0.07 | $ | 0.04 | $ | 0.11 | ||||
Diluted earnings per common share: | ||||||||||||
Total weighted average shares outstanding - basic | 993,115 | 991,295 | 992,480 | 990,300 | ||||||||
Effect of dilutive shares | 990 | 163 | 922 | 667 | ||||||||
Total weighted average shares outstanding - diluted | 994,105 | 991,458 | 993,402 | 990,967 | ||||||||
Net income per share attributable to common | ||||||||||||
shareholders of Frontier | $ | 0.04 | $ | 0.07 | $ | 0.04 | $ | 0.11 | ||||
Stock_Plans_Tables
Stock Plans (Tables) | 9 Months Ended | ||||||||||
Sep. 30, 2013 | |||||||||||
Stock Plans [Abstract] | ' | ||||||||||
LTIP Target Performance Shares | ' | ||||||||||
Number of | |||||||||||
Shares | |||||||||||
Balance at January 1, 2013 | 979,000 | ||||||||||
LTIP target performance shares granted | 1,124,000 | ||||||||||
LTIP target performance shares forfeited | -338,000 | ||||||||||
Balance at September 30, 2013 | 1,765,000 | ||||||||||
Restricted Shares Outstanding | ' | ||||||||||
Weighted | |||||||||||
Average | |||||||||||
Number of | Grant Date | Aggregate | |||||||||
Shares | Fair Value | Fair Value | |||||||||
Balance at January 1, 2013 | 7,049,000 | $ | 6.08 | $ | 30,169,000 | ||||||
Restricted stock granted | 3,355,000 | $ | 4.1 | $ | 14,024,000 | ||||||
Restricted stock vested | -3,090,000 | $ | 6.79 | $ | 12,916,000 | ||||||
Restricted stock forfeited | -1,013,000 | $ | 5.29 | ||||||||
Balance at September 30, 2013 | 6,301,000 | $ | 4.8 | $ | 26,340,000 | ||||||
Options Outstanding | ' | ||||||||||
Weighted | Weighted | ||||||||||
Shares | Average | Average | Aggregate | ||||||||
Subject to | Option Price | Remaining | Intrinsic | ||||||||
Option | Per Share | Life in Years | Value | ||||||||
Balance at January 1, 2013 | 540,000 | $ | 10.99 | 0.9 | $ | - | |||||
Options granted | - | $ | - | ||||||||
Options exercised | - | $ | - | ||||||||
Options canceled, forfeited or lapsed | -447,000 | $ | 10.54 | ||||||||
Balance at September 30, 2013 | 93,000 | $ | 13.20 | 2 | $ | - | |||||
Exercisable at September 30, 2013 | 93,000 | $ | 13.20 | 2 | $ | - | |||||
Investment_Income_Tables
Investment Income (Tables) | 9 Months Ended | ||||||||||||
Sep. 30, 2013 | |||||||||||||
Investment Income [Abstract] | ' | ||||||||||||
Investment Income | ' | ||||||||||||
For the three months ended September 30, | For the nine months ended September 30, | ||||||||||||
($ in thousands) | 2013 | 2012 | 2013 | 2012 | |||||||||
Interest and dividend income | $ | 382 | $ | 323 | $ | 2,268 | $ | 3,159 | |||||
Investment gain | - | - | 1,407 | 9,780 | |||||||||
Equity earnings (loss) | - | - | - | -522 | |||||||||
Total investment income | $ | 382 | $ | 323 | $ | 3,675 | $ | 12,417 | |||||
Other_Income_Net_Tables
Other Income, Net (Tables) | 9 Months Ended | ||||||||||||
Sep. 30, 2013 | |||||||||||||
Other Income, Net [Abstract] | ' | ||||||||||||
Components Of Other Income, Net | ' | ||||||||||||
For the three months ended September 30, | For the nine months ended September 30, | ||||||||||||
($ in thousands) | 2013 | 2012 | 2013 | 2012 | |||||||||
Gain on expiration/settlement of customer advances | $ | 1,393 | $ | 4,335 | $ | 3,345 | $ | 7,798 | |||||
Split dollar life insurance proceeds | - | - | 2,263 | - | |||||||||
All other, net | -251 | -56 | -149 | -1,221 | |||||||||
Total other income, net | $ | 1,142 | $ | 4,279 | $ | 5,459 | $ | 6,577 | |||||
Comprehensive_Income_Tables
Comprehensive Income (Tables) | 9 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Comprehensive Income [Abstract] | ' | |||||||||||||||
Accumulated Other Comprehensive Loss, Net of Tax | ' | |||||||||||||||
($ in thousands) | Pension Costs | OPEB Costs | Deferred taxes on pension and OPEB costs | All other | Total | |||||||||||
Balance at January 1, 2013 | $ | -697,874 | $ | -74,264 | $ | 288,712 | $ | -150 | $ | -483,576 | ||||||
Other comprehensive income before reclassifications | 133 | -267 | -227 | 2 | -359 | |||||||||||
Amounts reclassified from accumulated other comprehensive loss | 30,948 | 1,575 | -12,359 | - | 20,164 | |||||||||||
Recognition of net actuarial loss for pension settlement costs | 40,309 | - | -15,317 | - | 24,992 | |||||||||||
Net current-period other comprehensive income (loss) | 71,390 | 1,308 | -27,903 | 2 | 44,797 | |||||||||||
Balance at September 30, 2013 | $ | -626,484 | $ | -72,956 | $ | 260,809 | $ | -148 | $ | -438,779 | ||||||
($ in thousands) | Pension Costs | OPEB Costs | Deferred taxes on pension and OPEB costs | All other | Total | |||||||||||
Balance at January 1, 2012 | $ | -575,163 | $ | -41,811 | $ | 230,161 | $ | -150 | $ | -386,963 | ||||||
Other comprehensive income before reclassifications | - | - | -489 | 2 | -487 | |||||||||||
Amounts reclassified from accumulated other comprehensive loss | 22,268 | -1,898 | -7,741 | - | 12,629 | |||||||||||
Net current-period other comprehensive income (loss) | 22,268 | -1,898 | -8,230 | 2 | 12,142 | |||||||||||
Balance at September 30, 2012 | $ | -552,895 | $ | -43,709 | $ | 221,931 | $ | -148 | $ | -374,821 | ||||||
Reclassification Out of Accumulated Other Comprehensive Income | ' | |||||||||||||||
($ in thousands) | Amount Reclassified from | |||||||||||||||
Accumulated Other Comprehensive Loss (a) | ||||||||||||||||
Details about Accumulated Other Comprehensive Loss Components | Three months ended September 30, 2013 | Three months ended September 30, 2012 | Nine months ended September 30, 2013 | Nine months ended September 30, 2012 | Affected Line Item in the Statement Where Net Income is Presented | |||||||||||
Amortization of Pension Cost Items (b) | ||||||||||||||||
Prior-service costs | $ | -2 | $ | 50 | $ | -6 | $ | 150 | ||||||||
Actuarial gains/(losses) | -10,798 | -6,845 | -30,942 | -22,418 | ||||||||||||
Pension settlement costs | -40,309 | - | -40,309 | - | ||||||||||||
-51,109 | -6,795 | -71,257 | -22,268 | Income before income taxes | ||||||||||||
Tax impact | 19,421 | 2,582 | 27,078 | 8,462 | Income tax (expense) benefit | |||||||||||
$ | -31,688 | $ | -4,213 | $ | -44,179 | $ | -13,806 | Net income | ||||||||
Amortization of Postretirement Cost Items (b) | ||||||||||||||||
Prior-service costs | $ | 1,526 | $ | 2,545 | $ | 4,576 | $ | 7,551 | ||||||||
Actuarial gains/(losses) | -1,695 | -1,831 | -6,151 | -5,653 | ||||||||||||
-169 | 714 | -1,575 | 1,898 | Income before income taxes | ||||||||||||
Tax impact | 64 | -271 | 598 | -721 | Income tax (expense) benefit | |||||||||||
$ | -105 | $ | 443 | $ | -977 | $ | 1,177 | Net income | ||||||||
(a) Amounts in parentheses indicate losses. | ||||||||||||||||
(b) These accumulated other comprehensive loss components are included in the computation of net periodic pension and postretirement benefit cost (see Note 16 - Retirement Plans for additional details). | ||||||||||||||||
Retirement_Plans_Tables
Retirement Plans (Tables) | 9 Months Ended | ||||||||||||
Sep. 30, 2013 | |||||||||||||
Retirement Plans [Abstract] | ' | ||||||||||||
Net Periodic Benefit Cost | ' | ||||||||||||
Pension Benefits | Pension Benefits | ||||||||||||
For the three months ended | For the nine months ended | ||||||||||||
September 30, | September 30, | ||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||
($ in thousands) | |||||||||||||
Components of net periodic pension benefit cost | |||||||||||||
Service cost | $ | 12,141 | $ | 11,782 | $ | 37,809 | $ | 32,766 | |||||
Interest cost on projected benefit obligation | 18,827 | 19,204 | 56,587 | 58,520 | |||||||||
Expected return on plan assets | -23,585 | -23,655 | -72,765 | -71,832 | |||||||||
Amortization of prior service cost /(credit) | 2 | -50 | 6 | -150 | |||||||||
Amortization of unrecognized loss | 10,798 | 6,845 | 30,942 | 22,418 | |||||||||
Net periodic pension benefit cost | 18,183 | 14,126 | 52,579 | 41,722 | |||||||||
Pension settlement costs | 40,309 | - | 40,309 | - | |||||||||
Total periodic pension benefit cost | $ | 58,492 | $ | 14,126 | $ | 92,888 | $ | 41,722 | |||||
Postretirement Benefits | Postretirement Benefits | ||||||||||||
Other Than Pensions (OPEB) | Other Than Pensions (OPEB) | ||||||||||||
For the three months ended | For the nine months ended | ||||||||||||
September 30, | September 30, | ||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||
($ in thousands) | |||||||||||||
Components of net periodic postretirement benefit cost | |||||||||||||
Service cost | $ | 3,088 | $ | 2,999 | $ | 9,446 | $ | 8,109 | |||||
Interest cost on projected benefit obligation | 4,181 | 4,462 | 13,061 | 13,382 | |||||||||
Expected return on plan assets | -25 | -20 | -111 | -130 | |||||||||
Amortization of prior service cost/(credit) | -1,526 | -2,545 | -4,576 | -7,551 | |||||||||
Amortization of unrecognized loss | 1,695 | 1,831 | 6,151 | 5,653 | |||||||||
Net periodic postretirement benefit cost | $ | 7,413 | $ | 6,727 | $ | 23,971 | $ | 19,463 | |||||
Summary_Of_Significant_Account2
Summary Of Significant Accounting Policies (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | |
segment | ||||
Summary Of Significant Accounting Policies [Abstract] | ' | ' | ' | ' |
Ownership percentage of subsidiary sold (in hundredths) | 33.33% | ' | 33.33% | ' |
Gain on sale of Mohave partnership interest | ' | ' | $14,601,000 | ' |
Customer surcharges | $28,600,000 | $29,000,000 | $86,600,000 | $87,500,000 |
Number of operating segments | ' | ' | 4 | ' |
Number of reportable segments | ' | ' | 1 | ' |
The_Transaction_Details
The Transaction (Details) (USD $) | 3 Months Ended | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2012 | Sep. 30, 2012 | Jul. 01, 2010 |
item | |||
The Transaction [Abstract] | ' | ' | ' |
Number of access lines acquired from Verizon | ' | ' | 4,000,000 |
Acquisition and integration related costs | $4,458 | $68,204 | ' |
Accounts_Receivable_Narrative_
Accounts Receivable (Narrative) (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Accounts Receivable [Abstract] | ' | ' | ' | ' |
Bad debt expense | $20.60 | $20.80 | $52.90 | $61.50 |
Accounts_Receivable_Accounts_R
Accounts Receivable (Accounts Receivable) (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Accounts Receivable [Abstract] | ' | ' |
Retail and Wholesale | $515,743 | $581,152 |
Other | 42,143 | 45,819 |
Less: Allowance for doubtful accounts | -85,663 | -93,267 |
Accounts receivable, net | $472,223 | $533,704 |
Property_Plant_And_Equipment_N
Property, Plant And Equipment (Narrative) (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Property, Plant And Equipment [Abstract] | ' | ' | ' | ' |
Depreciation expense | $208.70 | $209.90 | $636.20 | $628.80 |
Property_Plant_And_Equipment_P
Property, Plant And Equipment (Property, Plant And Equipment, Net) (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Property, Plant And Equipment [Abstract] | ' | ' |
Property, plant and equipment | $14,710,342 | $14,353,763 |
Less: Accumulated depreciation | -7,420,775 | -6,848,867 |
Property, plant and equipment, net | $7,289,567 | $7,504,896 |
Goodwill_And_Other_Intangibles2
Goodwill And Other Intangibles (Narrative) (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' | ' |
Amortization expense | $77 | $88.50 | $251 | $333.90 |
Frontier Legacy Properties [Member] | ' | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' | ' |
Amortization expense | ' | ' | ' | 11.3 |
Customer Base [Member] | Residential Customer List [Member] | ' | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' | ' |
Estimated useful life | ' | ' | '9 years | ' |
Customer Base [Member] | Business Customer List [Member] | ' | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' | ' |
Estimated useful life | ' | ' | '12 years | ' |
Software Licenses [Member] | ' | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' | ' |
Amortization expense | ' | ' | ' | $38.30 |
Goodwill_And_Other_Intangibles3
Goodwill And Other Intangibles (Components Of Goodwill By Reporting Units) (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Indefinite-lived Intangible Assets by Segment [Line Items] | ' | ' |
Goodwill | $6,337,719 | $6,337,719 |
Central [Member] | ' | ' |
Indefinite-lived Intangible Assets by Segment [Line Items] | ' | ' |
Goodwill | 1,815,498 | ' |
East [Member] | ' | ' |
Indefinite-lived Intangible Assets by Segment [Line Items] | ' | ' |
Goodwill | 2,003,574 | ' |
National [Member] | ' | ' |
Indefinite-lived Intangible Assets by Segment [Line Items] | ' | ' |
Goodwill | 1,218,113 | ' |
West [Member] | ' | ' |
Indefinite-lived Intangible Assets by Segment [Line Items] | ' | ' |
Goodwill | $1,300,534 | ' |
Goodwill_And_Other_Intangibles4
Goodwill And Other Intangibles (Components Of Other Intangibles) (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Other intangibles | $2,656,803 | $2,657,086 |
Less: Accumulated amortization | -1,364,849 | -1,114,347 |
Total other intangibles, net | 1,291,954 | 1,542,739 |
Customer Base [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Other intangibles | 2,427,648 | 2,427,648 |
Software Licenses [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Other intangibles | 105,019 | 105,019 |
Trade Name And License [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Other intangibles | $124,136 | $124,419 |
Fair_Value_Of_Financial_Instru2
Fair Value Of Financial Instruments (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Carrying Amount [Member] | ' | ' |
Long-term debt [Abstract] | ' | ' |
Long-term debt | $7,887,296 | $8,381,947 |
Fair Value [Member] | ' | ' |
Long-term debt [Abstract] | ' | ' |
Long-term debt | $8,136,170 | $9,091,416 |
LongTerm_Debt_Narrative_Detail
Long-Term Debt (Narrative) (Details) (USD $) | 3 Months Ended | 9 Months Ended | 0 Months Ended | 9 Months Ended | 1 Months Ended | 3 Months Ended | 9 Months Ended | 9 Months Ended | 9 Months Ended | 9 Months Ended | 9 Months Ended | 9 Months Ended | 9 Months Ended | 9 Months Ended | 9 Months Ended | |||||||||||||||||||
Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Apr. 10, 2013 | Sep. 30, 2013 | Apr. 24, 2013 | Jun. 30, 2013 | Apr. 10, 2013 | Sep. 30, 2013 | Apr. 24, 2013 | Apr. 10, 2013 | Sep. 30, 2013 | Apr. 24, 2013 | Apr. 10, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Apr. 24, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | |
Senior Notes Due 2024 [Member] | Senior Notes Due 2024 [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Note Due 3/15/2015 [Member] | Senior Note Due 3/15/2015 [Member] | Senior Note Due 3/15/2015 [Member] | Senior Note Due 4/15/2015 [Member] | Senior Note Due 4/15/2015 [Member] | Senior Note Due 4/15/2015 [Member] | Senior Note Due 4/15/2017 [Member] | Senior Note Due 4/15/2017 [Member] | Senior Note Due 4/15/2017 [Member] | Senior Note Due 10/1/2018 [Member] | Senior Note Due 10/1/2018 [Member] | Senior Note Due 4/15/2020 [Member] | Senior Note Due 4/15/2020 [Member] | Senior Unsecured Debt [Member] | Revolving Credit Facility [Member] | Unsecured Letter of Credit Facility [Member] | Unsecured Letter of Credit Facility [Member] | Unsecured Letter of Credit Facility [Member] | Unsecured Letter of Credit Facility [Member] | Unsecured Letter of Credit Facility [Member] | Letter Of Credit, March 2013 [Member] | Letter Of Credit, March 2013 [Member] | Letter Of Credit, September 2013 [Member] | Letter Of Credit, September 2013 [Member] | Minimum [Member] | Maximum [Member] | ||||
item | item | item | Letter Of Credit, Extension [Member] | Letter Of Credit, Extension [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | ||||||||||||||||||||||||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Issuance Date | ' | ' | ' | 10-Apr-13 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt instrument, face amount | ' | ' | ' | $750,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $575,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest Rate | ' | ' | ' | 7.63% | ' | ' | ' | ' | ' | ' | 6.63% | ' | ' | 7.88% | ' | ' | 8.25% | ' | 8.13% | ' | 8.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of credit facility maximum borrowing capacity | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 750,000,000 | ' | 40,000,000 | 190,000,000 | ' | ' | ' | 20,000,000 | ' | 20,000,000 | ' | ' |
Line of credit facility expiration date | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3-Nov-16 | 30-Sep-11 | ' | ' | 30-Sep-12 | ' | 31-Mar-13 | ' | 30-Sep-13 | ' | ' | ' |
Debt instrument, maturity date | ' | ' | ' | ' | 15-Apr-24 | ' | ' | ' | 15-Mar-15 | ' | ' | 15-Apr-15 | ' | ' | 15-Apr-17 | ' | ' | 1-Oct-18 | ' | 15-Apr-20 | ' | 14-Oct-16 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Issue price expressed as a percentage of principal amount (in hundredths) | ' | ' | ' | 100.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from debt, net of issuance costs | ' | ' | ' | 736,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Aggregate principal amount agreed to be purchased | ' | ' | ' | ' | ' | ' | ' | 471,300,000 | ' | 700,000 | 194,200,000 | ' | 800,000 | 277,100,000 | ' | ' | 225,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amount of consideration for purchase of notes | ' | ' | ' | ' | ' | ' | ' | 532,400,000 | ' | 800,000 | 216,000,000 | ' | 900,000 | 316,400,000 | ' | ' | 267,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Losses on early extinguishment of debt | 245,000 | 159,780,000 | 71,063,000 | ' | ' | 104,900,000 | 54,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loss on early extinguishment of debt, net of tax | ' | ' | ' | ' | ' | 64,900,000 | 34,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loss on early extinguishment of debt, net of tax (in dollars per share) | ' | ' | ' | ' | ' | $0.06 | $0.04 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Repurchase of senior notes | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 208,800,000 | ' | ' | 17,300,000 | ' | 78,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Repayment of the outstanding principal balance, quarterly installments amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 14,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest rate margin for Base Rate borrowings, minimum (in hundredths) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.88% | 0.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest rate margin for Base Rate borrowings, maximum (in hundredths) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.88% | 1.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest rate margin for LIBOR borrowings, minimum (in hundredths) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.88% | 1.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest rate margin for LIBOR borrowings, maximum (in hundredths) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3.88% | 2.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Initial pricing for LIBOR based borrowings (in hundredths) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.88% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.00% | 2.00% |
Maximum permitted leverage ratio | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4.5 | 4.5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of credit facility, current borrowings | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest Rate (in thousandths) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.40% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Exercised extension of commitment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $100,000,000 | ' | ' | ' | ' | ' | ' |
Number of letters of credit | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
LongTerm_Debt_LongTerm_Debt_De
Long-Term Debt (Long-Term Debt) (Details) (USD $) | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 | |
Debt Instrument [Line Items] | ' | ' | |
Long-term debt, beginning balance | $8,942,568 | ' | |
Payments and Retirements | -1,548,548 | ' | |
New Borrowings | 750,000 | ' | |
Long-term debt, ending balance | 8,144,020 | ' | |
Less: Debt (Discount)/Premium | 1,186 | -71 | |
Less: Current Portion | -257,910 | -560,550 | |
Principal Outstanding | 7,887,296 | 8,381,947 | |
Weighted average interest rate | 7.96% | [1] | ' |
Senior Unsecured Debt [Member] | ' | ' | |
Debt Instrument [Line Items] | ' | ' | |
Long-term debt, beginning balance | 8,919,696 | ' | |
Payments and Retirements | -1,548,255 | ' | |
New Borrowings | 750,000 | ' | |
Long-term debt, ending balance | 8,121,441 | ' | |
Weighted average interest rate | 7.96% | [1] | ' |
Industrial Development Revenue Bonds [Member] | ' | ' | |
Debt Instrument [Line Items] | ' | ' | |
Long-term debt, beginning balance | 13,550 | ' | |
Payments and Retirements | ' | ' | |
New Borrowings | ' | ' | |
Long-term debt, ending balance | 13,550 | ' | |
Weighted average interest rate | 6.33% | [1] | ' |
Rural Utilities Service Loan Contracts [Member] | ' | ' | |
Debt Instrument [Line Items] | ' | ' | |
Long-term debt, beginning balance | 9,322 | ' | |
Payments and Retirements | -293 | ' | |
Long-term debt, ending balance | $9,029 | ' | |
Weighted average interest rate | 6.15% | [1] | ' |
[1] | Interest rate includes amortization of debt issuance costs and debt premiums or discounts. The interest rates at September 30, 2013 represent a weighted average of multiple issuances. |
LongTerm_Debt_Senior_Unsecured
Long-Term Debt (Senior Unsecured Debt) (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Apr. 10, 2013 | Sep. 30, 2013 | Apr. 10, 2013 | Sep. 30, 2013 | Apr. 24, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | ||||
In Thousands, unless otherwise specified | Senior Note Due 3/15/2015 [Member] | Senior Note Due 3/15/2015 [Member] | Senior Note Due 4/15/2015 [Member] | Senior Note Due 4/15/2015 [Member] | Senior Note Due 4/15/2017 [Member] | Senior Note Due 4/15/2017 [Member] | Senior Note Due 10/1/2018 [Member] | Senior Note Due 10/1/2018 [Member] | Senior Note Due 4/15/2020 [Member] | Senior Note Due 4/15/2020 [Member] | Senior Unsecured Debt [Member] | Senior Unsecured Debt [Member] | Senior Notes And Debentures [Member] | Senior Notes And Debentures [Member] | Senior Notes And Debentures [Member] | Senior Notes And Debentures [Member] | Senior Notes And Debentures [Member] | Senior Notes And Debentures [Member] | Senior Notes And Debentures [Member] | Senior Notes And Debentures [Member] | Senior Notes And Debentures [Member] | Senior Notes And Debentures [Member] | Senior Notes And Debentures [Member] | Senior Notes And Debentures [Member] | Senior Notes And Debentures [Member] | Senior Notes And Debentures [Member] | Senior Notes And Debentures [Member] | Senior Notes And Debentures [Member] | Senior Notes And Debentures [Member] | Senior Notes And Debentures [Member] | Senior Notes And Debentures [Member] | Senior Notes And Debentures [Member] | Senior Notes And Debentures [Member] | Senior Notes And Debentures [Member] | Senior Notes And Debentures [Member] | Senior Notes And Debentures [Member] | Senior Notes And Debentures [Member] | Senior Notes And Debentures [Member] | Senior Notes And Debentures [Member] | Senior Notes And Debentures [Member] | Senior Notes And Debentures [Member] | Senior Notes And Debentures [Member] | Senior Notes And Debentures [Member] | Senior Notes And Debentures [Member] | Senior Notes And Debentures [Member] | Senior Notes And Debentures [Member] | Senior Notes And Debentures [Member] | Senior Notes And Debentures [Member] | Senior Notes And Debentures [Member] | Senior Notes And Debentures [Member] | Senior Notes And Debentures [Member] | Senior Notes And Debentures [Member] | Senior Notes And Debentures [Member] | Subsidiary Senior Notes And Debentures [Member] | Subsidiary Senior Notes And Debentures [Member] | Subsidiary Senior Notes And Debentures [Member] | Subsidiary Senior Notes And Debentures [Member] | ||||||
Senior Unsecured Debt [Member] | Senior Unsecured Debt [Member] | Senior Unsecured Debt [Member] | Senior Unsecured Debt [Member] | Senior Unsecured Debt [Member] | Senior Unsecured Debt [Member] | Senior Unsecured Debt [Member] | Senior Unsecured Debt [Member] | Senior Unsecured Debt [Member] | Senior Unsecured Debt [Member] | Senior Unsecured Debt [Member] | Senior Unsecured Debt [Member] | Senior Unsecured Debt [Member] | Senior Unsecured Debt [Member] | Senior Unsecured Debt [Member] | Senior Unsecured Debt [Member] | Senior Unsecured Debt [Member] | Senior Unsecured Debt [Member] | Senior Unsecured Debt [Member] | Senior Unsecured Debt [Member] | Senior Unsecured Debt [Member] | Senior Unsecured Debt [Member] | Senior Unsecured Debt [Member] | Senior Unsecured Debt [Member] | Senior Unsecured Debt [Member] | Senior Unsecured Debt [Member] | Senior Unsecured Debt [Member] | Senior Unsecured Debt [Member] | Senior Unsecured Debt [Member] | Senior Unsecured Debt [Member] | Senior Unsecured Debt [Member] | Senior Unsecured Debt [Member] | Senior Unsecured Debt [Member] | Senior Unsecured Debt [Member] | Senior Unsecured Debt [Member] | Senior Unsecured Debt [Member] | Senior Unsecured Debt [Member] | Senior Unsecured Debt [Member] | Senior Unsecured Debt [Member] | Senior Unsecured Debt [Member] | Senior Unsecured Debt [Member] | Senior Unsecured Debt [Member] | Senior Unsecured Debt [Member] | Senior Unsecured Debt [Member] | Senior Unsecured Debt [Member] | |||||||||||||||||||
Senior Note Due 1/15/2013 [Member] | Senior Note Due 1/15/2013 [Member] | Senior Note Due 5/1/2014 [Member] | Senior Note Due 5/1/2014 [Member] | Senior Note Due 3/15/2015 [Member] | Senior Note Due 3/15/2015 [Member] | Senior Note Due 4/15/2015 [Member] | Senior Note Due 4/15/2015 [Member] | Senior Note Due 10/14/2016 [Member] | Senior Note Due 10/14/2016 [Member] | Senior Note Due 4/15/2017 [Member] | Senior Note Due 4/15/2017 [Member] | Senior Note Due 10/1/2018 [Member] | Senior Note Due 10/1/2018 [Member] | Senior Note Due 3/15/2019 [Member] | Senior Note Due 3/15/2019 [Member] | Senior Note Due 4/15/2020 [Member] | Senior Note Due 4/15/2020 [Member] | Senior Note Due 7/1/2021 [Member] | Senior Note Due 7/1/2021 [Member] | Senior Note Due 4/15/2022 [Member] | Senior Note Due 4/15/2022 [Member] | Senior Note Due 1/15/2023 [Member] | Senior Note Due 1/15/2023 [Member] | Senior Note Due 4/15/2024 [Member] | Debenture Due 11/1/2025 [Member] | Debenture Due 11/1/2025 [Member] | Debenture Due 8/15/2026 [Member] | Debenture Due 8/15/2026 [Member] | Senior Note Due 1/15/2027 [Member] | Senior Note Due 1/15/2027 [Member] | Senior Note Due 8/15/2031 [Member] | Senior Note Due 8/15/2031 [Member] | Debenture Due 10/1/2034 [Member] | Debenture Due 10/1/2034 [Member] | Debenture Due 7/1/2035 [Member] | Debenture Due 7/1/2035 [Member] | Debenture Due 10/1/2046 [Member] | Debenture Due 10/1/2046 [Member] | Subsidiary Senior Note Due 2/15/2028 [Member] | Subsidiary Senior Note Due 2/15/2028 [Member] | Subsidiary Senior Note Due 10/15/2029 [Member] | Subsidiary Senior Note Due 10/15/2029 [Member] | |||||||||||||||||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||
Principal Outstanding | $8,144,020 | $8,942,568 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $8,121,441 | $8,919,696 | $7,871,441 | $8,669,696 | ' | $502,658 | $200,000 | $200,000 | $105,026 | $300,000 | $96,872 | $374,803 | $474,375 | [1] | $517,500 | [1] | $606,874 | $1,040,685 | $582,739 | $600,000 | $434,000 | $434,000 | $1,021,505 | $1,100,000 | $500,000 | $500,000 | $500,000 | $500,000 | $850,000 | $850,000 | $750,000 | $138,000 | $138,000 | $1,739 | $1,739 | $345,858 | $345,858 | $945,325 | $945,325 | $628 | $628 | $125,000 | $125,000 | $193,500 | $193,500 | $200,000 | $200,000 | $50,000 | $50,000 | ||
Interest Rate | ' | ' | ' | 6.63% | ' | 7.88% | ' | 8.25% | ' | 8.13% | ' | 8.50% | ' | ' | ' | ' | ' | 6.25% | 8.25% | 8.25% | 6.63% | 6.63% | 7.88% | 7.88% | 3.06% | [1] | 3.10% | [1] | 8.25% | 8.25% | 8.13% | 8.13% | 7.13% | 7.13% | 8.50% | 8.50% | 9.25% | 9.25% | 8.75% | 8.75% | 7.13% | 7.13% | 7.63% | 7.00% | 7.00% | 6.80% | 6.80% | 7.88% | 7.88% | 9.00% | 9.00% | 7.68% | 7.68% | 7.45% | 7.45% | 7.05% | 7.05% | 6.73% | 6.73% | 8.40% | 8.40% | ||
Weighted average interest rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7.77% | [2] | 7.69% | [2] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Debt instrument, maturity date | ' | ' | 15-Mar-15 | ' | 15-Apr-15 | ' | 15-Apr-17 | ' | 1-Oct-18 | ' | 15-Apr-20 | ' | 14-Oct-16 | ' | ' | ' | 15-Jan-13 | ' | 1-May-14 | ' | 15-Mar-15 | ' | 15-Apr-15 | ' | 14-Oct-16 | [1] | ' | 15-Apr-17 | ' | 1-Oct-18 | ' | 15-Mar-19 | ' | 15-Apr-20 | ' | 1-Jul-21 | ' | 15-Apr-22 | ' | 15-Jan-23 | ' | 15-Apr-24 | 1-Nov-25 | ' | 15-Aug-26 | ' | 15-Jan-27 | ' | 15-Aug-31 | ' | 1-Oct-34 | ' | 1-Jul-35 | ' | 1-Oct-46 | ' | 15-Feb-28 | ' | 15-Oct-29 | ' | |||
[1] | Represents borrowings under the Credit Agreement with CoBank. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[2] | Interest rate represents a weighted average of the stated interest rates of multiple issuances. |
LongTerm_Debt_Debt_Maturities_
Long-Term Debt (Debt Maturities By Year) (Details) (USD $) | Sep. 30, 2013 |
In Thousands, unless otherwise specified | |
Long-Term Debt [Abstract] | ' |
Principal Payments 2013 (remaining three months) | $14,474 |
Principal Payments 2014 | 257,916 |
Principal Payments 2015 | 259,840 |
Principal Payments 2016 | 345,466 |
Principal Payments 2017 | 607,375 |
Principal Payments 2018 | $583,273 |
Income_Taxes_Narrative_Details
Income Taxes (Narrative) (Details) (USD $) | 9 Months Ended |
In Millions, unless otherwise specified | Sep. 30, 2013 |
Income Tax Contingency [Line Items] | ' |
Settlement of 2010 IRS audit | $5.20 |
Adjustment of deferred tax balances | 6 |
Reversal of reserves for uncertain tax postions | 5 |
Effect of expiration of statute of limitations during next twelve months | 2.4 |
State and Local Jurisdiction [Member] | ' |
Income Tax Contingency [Line Items] | ' |
Benefit resulting from state law changes | $5 |
Income_Taxes_Reconciliation_Of
Income Taxes (Reconciliation Of Provision For Income Taxes) (Details) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | |
Income Taxes [Abstract] | ' | ' | ' | ' |
Consolidated tax provision at federal statutory rate (in hundredths) | 35.00% | 35.00% | 35.00% | 35.00% |
State income tax provisions, net of federal income tax benefit (in hundredths) | -1.50% | 3.00% | -4.10% | 2.90% |
Noncontrolling interest (in hundredths) | ' | -1.50% | ' | -1.30% |
Tax reserve adjustment (in hundredths) | -1.30% | -5.60% | -6.60% | -3.20% |
Changes in certain deferred tax balances (in hundredths) | -11.50% | 2.00% | 1.50% | 1.10% |
IRS audit adjustments (in hundredths) | ' | ' | 7.30% | ' |
All other, net (in hundredths) | -1.40% | 0.40% | -0.60% | 0.30% |
Effective tax rate (in hundredths) | 19.30% | 33.30% | 32.50% | 34.80% |
Net_Income_Per_Common_Share_Na
Net Income Per Common Share (Narrative) (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | |
Stock Options [Member] | ' | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' | ' |
Shares excluded from the computation of diluted earnings per share (in shares) | 93,000 | 540,000 | 93,000 | 540,000 |
Exercise price range of stock options related to employee compensation plans - lower range limit (in dollars per share) | $12.50 | $8.19 | $12.50 | $8.19 |
Exercise price range of stock options related to employee compensation plans - upper range limit (in dollars per share) | $14.15 | $14.15 | $14.15 | $14.15 |
Non-Employee Directors' Deferred Fee Plan and Equity Plan [Member] | ' | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' | ' |
Shares excluded from the computation of diluted earnings per share (in shares) | 1,141,963 | 788,165 | 1,141,963 | 788,165 |
Net_Income_Per_Common_Share_Ca
Net Income Per Common Share (Calculation Of Net Income Per Common Share) (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Net Income Per Common Share [Abstract] | ' | ' | ' | ' |
Net income attributable to common shareholders of Frontier | $35,400 | $67,000 | $45,080 | $111,757 |
Less: Dividends paid on unvested restricted stock awards | -632 | -717 | -1,908 | -2,189 |
Total basic and diluted net income attributable to common shareholders of Frontier | $34,768 | $66,283 | $43,172 | $109,568 |
Total weighted average shares and unvested restricted stock awards outstanding - basic (in shares) | 999,826 | 998,488 | 999,017 | 997,437 |
Less: Weighted average unvested restricted stock awards (in shares) | -6,711 | -7,193 | -6,537 | -7,137 |
Total weighted average shares outstanding - basic (in shares) | 993,115 | 991,295 | 992,480 | 990,300 |
Net income per share attributable to common shareholders of Frontier (in dollars per share) | $0.04 | $0.07 | $0.04 | $0.11 |
Effect of dilutive shares (in shares) | 990 | 163 | 922 | 667 |
Total weighted average shares outstanding - diluted (in shares) | 994,105 | 991,458 | 993,402 | 990,967 |
Net income per share attributable to common shareholders of Frontier (in dollars per share) | $0.04 | $0.07 | $0.04 | $0.11 |
Stock_Plans_Narrative_Details
Stock Plans (Narrative) (Details) (USD $) | 9 Months Ended | 3 Months Ended | 9 Months Ended | 9 Months Ended | ||||||
Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Mar. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Mar. 31, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | |
ShareBasedCompensationPlan | Performance Shares [Member] | Performance Shares [Member] | Performance Shares [Member] | Performance Shares [Member] | Restricted Stock [Member] | Restricted Stock [Member] | Restricted Stock [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of stock-based compensation plan under which grants were made | 6 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of stock-based compensation plan under which grants were not made | 4 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares authorized for grant under the plans (in shares) | 22,540,761 | ' | ' | ' | ' | ' | 1,123,966 | ' | ' | ' |
Shares available for grant under the plan (in shares) | 18,381,480 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Initial period over which target number of performance shares are awarded | ' | ' | ' | ' | '90 days | ' | ' | ' | ' | ' |
Measurement period | ' | ' | ' | ' | '3 years | ' | ' | ' | ' | ' |
Number of shares granted (in shares) | ' | ' | ' | 930,020 | ' | ' | ' | ' | ' | ' |
Expense recognized during the period | ' | ' | ' | ' | $800,000 | $300,000 | ' | ' | ' | ' |
Remaining unrecognized compensation cost associated with unvested restricted stock awards | ' | ' | ' | ' | ' | ' | ' | 22,800,000 | ' | ' |
Weighted average period over which unvested restricted stock awards unrecognized compensation cost is expected to be recognized (in years) | ' | ' | ' | ' | ' | ' | ' | '2 years | ' | ' |
Shares granted (in shares) | ' | ' | ' | ' | 1,124,000 | ' | ' | 3,355,000 | 3,941,000 | ' |
Restricted stock granted | ' | ' | ' | ' | ' | ' | ' | 14,024,000 | 19,400,000 | ' |
Restricted stock vested | ' | ' | ' | ' | ' | ' | ' | 12,916,000 | 6,600,000 | ' |
Fair value of unvested restricted stock | ' | ' | ' | ' | ' | ' | ' | 26,340,000 | 35,300,000 | 30,169,000 |
Restricted stock granted (in dollars per shares) | ' | ' | ' | ' | ' | ' | ' | $4.10 | $4.17 | ' |
Options granted (in shares) | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' |
Intrinsic value of options outstanding | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' |
Intrinsic value of exercisable options | ' | $0 | ' | ' | ' | ' | ' | ' | ' | ' |
Stock_Plans_LTIP_Target_Perfor
Stock Plans (LTIP Target Performance Shares) (Details) (Performance Shares [Member]) | 9 Months Ended |
Sep. 30, 2013 | |
Performance Shares [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Balance at beginning of period (in shares) | 979,000 |
Shares granted (in shares) | 1,124,000 |
Shares forfeited (in shares) | -338,000 |
Balance at end of period (in shares) | 1,765,000 |
Stock_Plans_Restricted_Shares_
Stock Plans (Restricted Shares Outstanding) (Details) (Restricted Stock [Member], USD $) | 9 Months Ended | |
Sep. 30, 2013 | Sep. 30, 2012 | |
Restricted Stock [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Balance at beginning of period (in shares) | 7,049,000 | ' |
Shares granted (in shares) | 3,355,000 | 3,941,000 |
Shares vested (in shares) | -3,090,000 | ' |
Shares forfeited (in shares) | -1,013,000 | ' |
Balance at end of period (in shares) | 6,301,000 | ' |
Balance at beginning of period (in dollars per shares) | $6.08 | ' |
Restricted stock granted (in dollars per shares) | $4.10 | $4.17 |
Restricted stock vested (in dollars per shares) | $6.79 | ' |
Restricted stock forfeited (in dollars per shares) | $5.29 | ' |
Balance at end of period (in dollars per shares) | $4.80 | ' |
Balance at beginning of period | $30,169,000 | ' |
Restricted stock granted | 14,024,000 | 19,400,000 |
Restricted stock vested | 12,916,000 | 6,600,000 |
Balance at end of period | $26,340,000 | $35,300,000 |
Stock_Plans_Options_Outstandin
Stock Plans (Options Outstanding) (Details) (USD $) | 9 Months Ended | 12 Months Ended | |
In Millions, except Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 |
Shares Subject to Option [Roll forward] | ' | ' | ' |
Balance at beginning of period (in shares) | 540,000 | ' | ' |
Options granted (in shares) | ' | 0 | ' |
Options canceled, forfeited or lapsed (in shares) | -447,000 | ' | ' |
Balance at end of period (in shares) | 93,000 | ' | 540,000 |
Exercisable at end of period (in shares) | 93,000 | ' | ' |
Weighted Average Option Price Per Share [Abstract] | ' | ' | ' |
Balance at beginning of period (in dollars per share) | $10.99 | ' | ' |
Options canceled, forfeited or lapsed (in dollars per share) | $10.54 | ' | ' |
Balance at end of period (in dollars per share) | $13.20 | ' | $10.99 |
Exercisable at end of period (in dollars per share) | $13.20 | ' | $10.99 |
Weighted Average Remaining Life in Years [Abstract] | ' | ' | ' |
Balance at beginning of period | '2 years | ' | '10 months 24 days |
Balance at end of period | '2 years | ' | '10 months 24 days |
Exercisable at end of period | '2 years | ' | ' |
Aggregate Intrinsic Value [Abstract] | ' | ' | ' |
Balance at beginning of period | ' | ' | ' |
Balance at end of period | ' | 0 | ' |
Exercisable at end of period | ' | $0 | ' |
Segment_Information_Details
Segment Information (Details) | 9 Months Ended |
Sep. 30, 2013 | |
segment | |
Segment Information [Abstract] | ' |
Number of reportable segments | 1 |
Investment_Income_Details
Investment Income (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | |
Investment Income [Abstract] | ' | ' | ' | ' |
Interest and dividend income | $382,000 | $323,000 | $2,268,000 | $3,159,000 |
Investment gain | ' | ' | 1,407,000 | 9,780,000 |
Equity earnings (loss) | ' | ' | ' | -522,000 |
Total investment income | 382,000 | 323,000 | 3,675,000 | 12,417,000 |
Gain associated in connection with previously written-off investment | ' | ' | $1,400,000 | $9,800,000 |
Other_Income_Net_Details
Other Income, Net (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Other Income, Net [Abstract] | ' | ' | ' | ' |
Gain on expiration/settlement of customer advances | $1,393 | $4,335 | $3,345 | $7,798 |
Split dollar life insurance proceeds | ' | ' | 2,263 | ' |
All other, net | -251 | -56 | -149 | -1,221 |
Total other income, net | $1,142 | $4,279 | $5,459 | $6,577 |
Comprehensive_Income_Accumulat
Comprehensive Income (Accumulated Other Comprehensive Loss, Net of Tax) (Details) (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' |
Balance, beginning | ($483,576) | ($386,963) |
Other comprehensive income before reclassifications | -359 | -487 |
Amounts reclassified from accumulated other comprehensive loss | 20,164 | 12,629 |
Recognition of net actuarial loss for pension settlement costs | 24,992 | ' |
Net current-period other comprehensive income (loss) | 44,797 | 12,142 |
Balance, ending | -438,779 | -374,821 |
Pension Benefits [Member] | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' |
Balance, beginning | -697,874 | -575,163 |
Other comprehensive income before reclassifications | 133 | ' |
Amounts reclassified from accumulated other comprehensive loss | 30,948 | 22,268 |
Recognition of net actuarial loss for pension settlement costs | 40,309 | ' |
Net current-period other comprehensive income (loss) | 71,390 | 22,268 |
Balance, ending | -626,484 | -552,895 |
Postretirement Costs [Member] | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' |
Balance, beginning | -74,264 | -41,811 |
Other comprehensive income before reclassifications | -267 | ' |
Amounts reclassified from accumulated other comprehensive loss | 1,575 | -1,898 |
Net current-period other comprehensive income (loss) | 1,308 | -1,898 |
Balance, ending | -72,956 | -43,709 |
Deferred Taxes On Pension And OPEB Costs [Member] | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' |
Balance, beginning | 288,712 | 230,161 |
Other comprehensive income before reclassifications | -227 | -489 |
Amounts reclassified from accumulated other comprehensive loss | -12,359 | -7,741 |
Recognition of net actuarial loss for pension settlement costs | -15,317 | ' |
Net current-period other comprehensive income (loss) | -27,903 | -8,230 |
Balance, ending | 260,809 | 221,931 |
All Other [Member] | ' | ' |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' |
Balance, beginning | -150 | -150 |
Other comprehensive income before reclassifications | 2 | 2 |
Net current-period other comprehensive income (loss) | 2 | 2 |
Balance, ending | ($148) | ($148) |
Comprehensive_Income_Reclassif
Comprehensive Income (Reclassification Out of AOCI) (Details) (USD $) | 3 Months Ended | 9 Months Ended | |||||||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ' | ' | ||||
Income before income taxes | $43,861 | ' | $107,365 | $70,704 | $190,265 | ||||
Tax impact | -8,461 | ' | -35,739 | -22,981 | -66,150 | ||||
Net income | 35,400 | 29,199 | 71,626 | 47,723 | 124,115 | ||||
Reclassification out of Accumulated Other Comprehensive Income [Member] | Pension Benefits [Member] | Amortization Of Defined Benefit Cost Items [Member] | ' | ' | ' | ' | ' | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ' | ' | ||||
Prior-service costs | -2 | [1],[2] | ' | 50 | [1],[2] | -6 | [1],[2] | 150 | [1],[2] |
Actuarial gains/(losses) | -10,798 | [1],[2] | ' | -6,845 | [1],[2] | -30,942 | [1],[2] | -22,418 | [1],[2] |
Pension settlement costs | -40,309 | [1],[2] | ' | ' | -40,309 | [1],[2] | ' | ||
Income before income taxes | -51,109 | [1],[2] | ' | -6,795 | [1],[2] | -71,257 | [1],[2] | -22,268 | [1],[2] |
Tax impact | 19,421 | [1],[2] | ' | 2,582 | [1],[2] | 27,078 | [1],[2] | 8,462 | [1],[2] |
Net income | -31,688 | [1],[2] | ' | -4,213 | [1],[2] | -44,179 | [1],[2] | -13,806 | [1],[2] |
Reclassification out of Accumulated Other Comprehensive Income [Member] | Postretirement Costs [Member] | Amortization Of Defined Benefit Cost Items [Member] | ' | ' | ' | ' | ' | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ' | ' | ||||
Prior-service costs | 1,526 | [1],[2] | ' | 2,545 | [1],[2] | 4,576 | [1],[2] | 7,551 | [1],[2] |
Actuarial gains/(losses) | -1,695 | [1],[2] | ' | -1,831 | [1],[2] | -6,151 | [1],[2] | -5,653 | [1],[2] |
Income before income taxes | -169 | [1],[2] | ' | 714 | [1],[2] | -1,575 | [1],[2] | 1,898 | [1],[2] |
Tax impact | 64 | [1],[2] | ' | -271 | [1],[2] | 598 | [1],[2] | -721 | [1],[2] |
Net income | ($105) | [1],[2] | ' | $443 | [1],[2] | ($977) | [1],[2] | $1,177 | [1],[2] |
[1] | Amounts in parentheses indicate losses. | ||||||||
[2] | These accumulated other comprehensive loss components are included in the computation of net periodic pension and postretirement benefit cost (see Note 16 - Retirement Plans for additional details). |
Retirement_Plans_Narrative_Det
Retirement Plans (Narrative) (Details) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | 0 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | |
Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Oct. 11, 2013 | Oct. 11, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | |
property | Subsequent Event [Member] | Subsequent Event [Member] | Pension Benefits [Member] | Pension Benefits [Member] | ||||
property | ||||||||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Capitalization of pension and OPEB expense related to engineering and plant construction | ' | $14,900,000 | $11,700,000 | ' | ' | ' | ' | ' |
Estimated pension and other postretirement benefit expenses, maximum | ' | 100,000,000 | ' | ' | ' | ' | ' | ' |
Pension and other postretirement benefit expenses | ' | 22,558,000 | 24,220,000 | 81,600,000 | ' | ' | ' | ' |
Lump sum pension payments | ' | 149,000,000 | ' | ' | ' | ' | ' | ' |
Settlement threshold | ' | 125,400,000 | ' | ' | ' | ' | ' | ' |
Pension settlement costs | -40,309,000 | -40,309,000 | ' | ' | ' | ' | -40,309,000 | -40,309,000 |
Net pension plan liability | 447,800,000 | 447,800,000 | ' | 697,900,000 | ' | ' | ' | ' |
Funded status of pension plan, percentage | 71.00% | 71.00% | ' | 64.00% | ' | ' | ' | ' |
Number of properties contributed | 3 | ' | ' | ' | 1 | ' | ' | ' |
Contribution of Property | 18,200,000 | 18,216,000 | ' | ' | 5,200,000 | ' | ' | ' |
Lease term of contributed property | '15 years | ' | ' | ' | '15 years | ' | ' | ' |
Annual rental payments | 1,600,000 | 1,600,000 | ' | ' | ' | ' | ' | ' |
Increase in pension obligation | 18,200,000 | ' | ' | ' | ' | ' | ' | ' |
Other liabilities | 254,953,000 | 254,953,000 | ' | 266,625,000 | ' | ' | 18,100,000 | 18,100,000 |
Other current liabilities | 219,234,000 | 219,234,000 | ' | 232,836,000 | ' | ' | 100,000 | 100,000 |
Cash contributions to pension plan | ' | 38,900,000 | ' | ' | ' | ' | ' | ' |
Contributions to pension plan | ' | 57,100,000 | ' | ' | ' | 62,300,000 | ' | ' |
Estimated contributions to pension plan in current fiscal year | ' | 0 | ' | ' | ' | ' | ' | ' |
Plan assets | 1,181,100,000 | 1,181,100,000 | ' | 1,253,600,000 | ' | ' | ' | ' |
Decrease in plan assets | ' | 72,500,000 | ' | ' | ' | ' | ' | ' |
Percentage of decrease in pension plan assets | ' | 6.00% | ' | ' | ' | ' | ' | ' |
Benefit payments | ' | 194,700,000 | ' | ' | ' | ' | ' | ' |
Positive investment returns | ' | $65,100,000 | ' | ' | ' | ' | ' | ' |
Retirement_Plans_Net_Periodic_
Retirement Plans (Net Periodic Benefit Cost) (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' | ' |
Pension settlement costs | $40,309 | ' | $40,309 | ' |
Pension Benefits [Member] | ' | ' | ' | ' |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' | ' |
Service cost | 12,141 | 11,782 | 37,809 | 32,766 |
Interest cost on projected benefit obligation | 18,827 | 19,204 | 56,587 | 58,520 |
Expected return on plan assets | -23,585 | -23,655 | -72,765 | -71,832 |
Amortization of prior service cost/(credit) | 2 | -50 | 6 | -150 |
Amortization of unrecognized loss | 10,798 | 6,845 | 30,942 | 22,418 |
Net periodic pension benefit cost | 18,183 | 14,126 | 52,579 | 41,722 |
Pension settlement costs | 40,309 | ' | 40,309 | ' |
Total periodic benefit cost | 58,492 | 14,126 | 92,888 | 41,722 |
Postretirement Benefits Other Than Pensions (OPEB) [Member] | ' | ' | ' | ' |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ' | ' | ' | ' |
Service cost | 3,088 | 2,999 | 9,446 | 8,109 |
Interest cost on projected benefit obligation | 4,181 | 4,462 | 13,061 | 13,382 |
Expected return on plan assets | -25 | -20 | -111 | -130 |
Amortization of prior service cost/(credit) | -1,526 | -2,545 | -4,576 | -7,551 |
Amortization of unrecognized loss | 1,695 | 1,831 | 6,151 | 5,653 |
Total periodic benefit cost | $7,413 | $6,727 | $23,971 | $19,463 |
Commitments_And_Contingencies_
Commitments And Contingencies (Details) (USD $) | 9 Months Ended | |
In Millions, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2010 |
entity | ||
item | ||
state | ||
Capital expenditures anticipated [Abstract] | ' | ' |
Range of capital expenditures anticipated for legacy and acquired properties - minimum | $625 | ' |
Range of capital expenditures anticipated for legacy and acquired properties, maximum | 675 | ' |
Percentage of households in markets served to have broadband availability (in hundredths) | 85.00% | ' |
Targeted minimum megabits per second in markets acquired by year 2013 (in Mbps) | 3 | ' |
Targeted minimum megabits per second in markets acquired by year 2015 (in Mbps) | 4 | ' |
Percentage of households throughout acquired Territories with broadband availability in excess of 3 Mbps (in hundredths) | 84.70% | ' |
Percentage of households throughout acquired Territories with broadband availability in excess of 4 Mbps (in hundredths) | 82.60% | ' |
Number of state regulatory commissions requiring capital investment commitments | 3 | ' |
Aggregate amount placed into a cash escrow account for capital investment commitments required by state regulatory commissions | ' | 115 |
Amount of letter of credit obtained for capital investment commitments required by state regulatory commissions | ' | 190 |
Aggregate amount of cash in escrow accounts for service quality initiatives in the state of West Virginia | 72.4 | ' |
Cash balance in escrow accounts for service quality initiatives in the state of West Virginia | 9.3 | ' |
Amount released from escrow | 166.8 | ' |
Escrow Deposit | 20.9 | ' |
Expired letter of credit | 20 | ' |
Recorded Unconditional Purchase Obligation, Fiscal Year Maturity Schedule [Abstract] | ' | ' |
2013 | 128 | ' |
2014 | 145.8 | ' |
2015 | 140.8 | ' |
Operating Leases [Abstract] | ' | ' |
Number of vehicles accepted by the company for delivery | 3,700 | ' |
Percentage of expected vehicles to be leased under the program (in hundredths) | 50.00% | ' |
Minimum lease commitment | '1 year | ' |
Total annual lease expense for all new vehicles expected | 30 | ' |
Vermont Joint Owners consortium related commitments and contingencies [Abstract] | ' | ' |
Number of utilities forming the Vermont Joint Owners consortium | 14 | ' |
Purchase power obligation (in hundredths) | 10.00% | ' |
Number of years assumed if members of the consortium remained in default for the duration of the contract | '3 years | ' |
Undiscounted purchase obligation if members of the consortium remained in default for the duration of the contract | $431.10 | ' |
Subsequent_Events_Details
Subsequent Events (Details) (USD $) | 3 Months Ended | 9 Months Ended | 0 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2013 | Oct. 11, 2013 |
property | Subsequent Event [Member] | ||
property | |||
Subsequent Event [Line Items] | ' | ' | ' |
Number of properties contributed | 3 | ' | 1 |
Contribution of Property | $18,200 | $18,216 | $5,200 |
Lease term of contributed property | '15 years | ' | '15 years |