Cincinnati Bell (BDWGP) 10-Q 2 Nov 17 2017 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information Document - shares	9 Months Ended
	Sep. 30, 2017	Oct. 31, 2017
Document and Entity [Abstract]
Entity Registrant Name	CINCINNATI BELL INC.
Entity Central Index Key	716,133
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Sep. 30, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q3
Amendment Flag	false
Entity Common Stock, Shares Outstanding		42,185,514

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Revenue
Services	$ 244.3	$ 246.7	$ 734.8	$ 733.1
Products	44.9	65.7	126.6	167.4
Total revenue	289.2	312.4	861.4	900.5
Costs and expenses
Cost of services, excluding items below	129	127.7	381.2	375.7
Cost of products sold, excluding items below	33.6	56.1	101.6	141.6
Selling, general and administrative, excluding items below	54.5	55.5	166.6	164.9
Depreciation and amortization	47.3	46.5	140.1	134.7
Restructuring and severance related charges	0	0	29.2	0
Transaction and integration costs	12.1	0	14.4	0
Other	0	1.1	0	1.1
Total operating costs and expenses	276.5	286.9	833.1	818
Operating income	12.7	25.5	28.3	82.5
Interest expense	18.8	17.9	54.9	58.1
Loss on extinguishment of debt, net	0	11.4	0	14.2
Gain on sale of Investment in CyrusOne	0	(33.3)	(117.7)	(151.9)
Other expense (income), net	4.5	(0.1)	3.5	(1.2)
(Loss) income before income taxes	(10.6)	29.6	87.6	163.3
Income tax expense	0.6	10.8	36.3	59.9
Net (loss) income	(11.2)	18.8	51.3	103.4
Preferred stock dividends	2.6	2.6	7.8	7.8
Net (loss) income applicable to common shareowners	$ (13.8)	$ 16.2	$ 43.5	$ 95.6
Basic net (loss) earnings per common share	$ (0.33)	$ 0.39	$ 1.03	$ 2.28
Diluted net (loss) earnings per common share	$ (0.33)	$ 0.38	$ 1.03	$ 2.27

Condensed Consolidated Stateme3

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Net (loss) income	$ (11.2)	$ 18.8	$ 51.3	$ 103.4
Other comprehensive income (loss), net of tax:
Unrealized gains on Investment in CyrusOne, net of tax of $4.4	0	0	8.3	0
Reclassification adjustment for gain on sale of Investment in CyrusOne included in net income, net of tax of ($41.3)	0	0	(76.4)	0
Foreign currency translation gain (loss)	0.1	0	0.1	(0.1)
Defined benefit plans:
Amortization of prior service benefits included in net income, net of tax of ($0.4), ($1.2), ($1.2), ($3.9)	(0.8)	(2.4)	(2.2)	(7.1)
Amortization of net actuarial loss included in net income, net of tax of $1.9, $2.1, $5.9, $6.4	3.6	3.8	10.7	11.6
Total other comprehensive income (loss)	2.9	1.4	(59.5)	4.4
Total comprehensive (loss) income	$ (8.3)	$ 20.2	$ (8.2)	$ 107.8

Condensed Consolidated Stateme4

Condensed Consolidated Statements of Comprehensive Income Parenthetical - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Unrealized gains on Investment in CyrusOne, tax	$ 0	$ 0	$ 4.4	$ 0
Reclassification adjustment for gain on sale of Investment in CyrusOne included in net income, tax	0	0	(41.3)	0
Amortization of prior service benefits included in net income, tax	(0.4)	(1.2)	(1.2)	(3.9)
Amortization of net actuarial loss included in net income, tax	$ 1.9	$ 2.1	$ 5.9	$ 6.4

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016
Current assets
Cash and cash equivalents	$ 43.7	$ 9.7
Receivables, less allowances of $10.3 and $9.9	170	178.6
Inventory, materials and supplies	19.8	22.7
Prepaid expenses	17.7	15
Other current assets	6.6	3.9
Total current assets	257.8	229.9
Property, plant and equipment, net	1,112.8	1,085.5
Investment in CyrusOne	0	128
Goodwill	18.6	14.3
Deferred income taxes, net	50.4	64.5
Other noncurrent assets	17.7	18.8
Total assets	1,457.3	1,541
Current liabilities
Current portion of long-term debt	12	7.5
Accounts payable	109	105.9
Unearned revenue and customer deposits	32.6	36.3
Accrued taxes	19.2	12.9
Accrued interest	13.4	12.7
Accrued payroll and benefits	35.3	25.7
Other current liabilities	31.2	31.9
Total current liabilities	252.7	232.9
Long-term debt, less current portion	1,120.8	1,199.1
Pension and postretirement benefit obligations	186.3	197.7
Other noncurrent liabilities	31	33
Total liabilities	1,590.8	1,662.7
Shareowners' deficit
Preferred stock, 2,357,299 shares authorized, 155,250 shares (3,105,000 depositary shares) of 6 3/4% Cumulative Convertible Preferred Stock issued and outstanding at September 30, 2017 and December 31, 2016; liquidation preference $1,000 per share ($50 per depositary share)	129.4	129.4
Common shares, $.01 par value; 96,000,000 shares authorized; 42,182,031 and 42,056,237 shares issued; 42,182,031 and 42,056,237 shares outstanding at September 30, 2017 and December 31, 2016	0.4	0.4
Additional paid-in capital	2,567.3	2,570.9
Accumulated deficit	(2,680.8)	(2,732.1)
Accumulated other comprehensive loss	(149.8)	(90.3)
Total shareowners' deficit	(133.5)	(121.7)
Total liabilities and shareowners' deficit	$ 1,457.3	$ 1,541

Condensed Consolidated Balance6

Condensed Consolidated Balance Sheets Parenthetical - USD ($)	9 Months Ended	12 Months Ended
	Sep. 30, 2017	Dec. 31, 2016
Allowance for receivables	$ 10,300,000	$ 9,900,000
Preferred Stock, Shares Authorized	2,357,299	2,357,299
Preferred Stock, 6 3/4% Cumulative Convertible, Shares Issued	155,250	155,250
Preferred Stock, 6 3/4% Cumulative Convertible, Shares Outstanding	155,250	155,250
Preferred Stock, Depositary Shares	3,105,000	3,105,000
Preferred Stock, Dividend Rate, Percentage	6.75%	6.75%
Preferred Stock, Liquidation Preference Per Share	$ 1,000	$ 1,000
Preferred Stock Liquidation Depositary Per Share	$ 50	$ 50
Common Stock, Par or Stated Value Per Share	$ 0.01	$ 0.01
Common Stock, Shares Authorized	96,000,000	96,000,000
Common Stock, Shares, Issued	42,182,031	42,056,237
Common Stock, Shares, Outstanding	42,182,031	42,056,237

Condensed Consolidated Stateme7

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Cash flows from operating activities
Net income	$ 51.3	$ 103.4
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	140.1	134.7
Loss on extinguishment of debt, net	0	14.2
Gain on sale of Investment in CyrusOne	(117.7)	(151.9)
Provision for loss on receivables	5.6	7.2
Noncash portion of interest expense	1.5	2.4
Deferred income taxes	35.9	59.3
Pension and other postretirement payments less than (in excess of) expense	2.1	(3.9)
Stock-based compensation	5.2	4.8
Other, net	1.1	(3.1)
Changes in operating assets and liabilities, net of effects of acquisitions:
Decrease (increase) in receivables	20.8	(11)
Increase in inventory, materials, supplies, prepaid expenses and other current assets	(1.7)	(6)
Increase (decrease) in accounts payable	2.4	(3.9)
Increase (decrease) in accrued and other current liabilities	11.1	(3.9)
Decrease (increase) in other noncurrent assets	1.8	(2.1)
(Decrease) increase in other noncurrent liabilities	(2.7)	1.4
Net cash provided by operating activities	156.8	141.6
Cash flows from investing activities
Capital expenditures	(148.2)	(188.8)
Increase in restricted cash	0	(90.7)
Proceeds from sale of Investment in CyrusOne	140.7	181.2
Acquisitions of businesses	(9.6)	0
Dividends received from Investment in CyrusOne	0	6.2
Other, net	0.3	(0.8)
Net cash used in investing activities	(16.8)	(92.9)
Cash flows from financing activities
Proceeds from issuance of long-term debt	0	425
Net (decrease) increase in corporate credit and receivables facilities with initial maturities less than 90 days	(89.5)	5.9
Repayment of debt	(6.4)	(461)
Debt issuance costs	(1.3)	(8.4)
Dividends paid on preferred stock	(7.8)	(7.8)
Common stock repurchase	0	(4.8)
Other, net	(1)	3.5
Net cash used in financing activities	(106)	(47.6)
Net increase in cash and cash equivalents	34	1.1
Cash and cash equivalents at beginning of period	9.7	7.4
Cash and cash equivalents at end of period	43.7	8.5
Noncash investing and financing transactions:
Accrual of CyrusOne dividends	0	1.2
Acquisition of property by assuming debt and other noncurrent liabilities	16.7	10.9
Acquisition of property on account	$ 19.8	$ 43

Description of Business and Acc

Description of Business and Accounting Policies	9 Months Ended
	Sep. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	Description of Business and Accounting Policies Description of Business — Cincinnati Bell Inc. and its consolidated subsidiaries ("Cincinnati Bell," "we," "our," "us" or the "Company") provides diversified telecommunications and technology services. The Company generates a large portion of its revenue by serving customers in the Greater Cincinnati and Dayton, Ohio areas. An economic downturn or natural disaster occurring in this, or a portion of this, limited operating territory could have a disproportionate effect on our business, financial condition, results of operations and cash flows compared to similar companies of a national scope and similar companies operating in different geographic areas. The Company has receivables with one large customer, General Electric Company, that makes up 14% and 21% of the outstanding accounts receivable balance at September 30, 2017 and December 31, 2016 , respectively. This same customer represented 12% of consolidated revenue for the three and nine months ended September 30, 2016. Merger and Acquisition Activity — On October 2, 2017, we consummated our previously announced acquisition of OnX Holdings LLC ("OnX"), a privately held company that provides technology services and solutions to enterprise customers in the U.S., Canada and the U.K. The acquisition of OnX, originally announced on July 10, 2017, indicated that the purchase price of $201 million was subject to customary post-closing adjustments. Based on preliminary working capital adjustments, the cash consideration exchanged for the acquisition on October 2, 2017 was $242.3 million . The final purchase price is subject to completion of post-closing adjustments. The initial accounting for the business combination was not complete at the time the financial statements were issued due to the timing of the acquisition and the filing of this Quarterly Report on Form 10-Q. As a result, disclosures required under ASC 805-10-50, Business Combinations, are not possible at this time. On July 9, 2017, the Company and Hawaiian Telcom Holdco, Inc., a Delaware corporation (“Hawaiian Telcom”), entered into an Agreement and Plan of Merger (the "Hawaiian Telcom Merger Agreement") providing for the merger of Hawaiian Telcom with a wholly-owned subsidiary of the Company in exchange for the consideration described below. Hawaiian Telcom is a fiber-centric technology leader providing voice, video, broadband, data center and cloud solutions to consumer, business and wholesale customers on the Hawaiian islands. At the effective time of the merger, each share of Hawaiian Telcom common stock, par value of $0.01 per share, issued and outstanding immediately prior to the effective time of the merger will be converted into the right to receive, at the holder’s election and subject to proration as set forth in the Hawaiian Telcom Merger Agreement (1) 1.6305 common shares, par value $0.01 per share, of the Company (the “Company Common Shares”) (the “Share Consideration”); (2) 0.6522 Company Common Shares and $18.45 in cash, without interest (the “Mixed Consideration”); or (3) $30.75 in cash, without interest (the “Cash Consideration”). Hawaiian Telcom stockholders who elect to receive the Share Consideration or the Cash Consideration will be subject to proration to ensure that the aggregate number of Company Common Shares to be issued by the Company in the Hawaiian Telcom Merger and the aggregate amount of cash to be paid in the Hawaiian Telcom Merger will be the same as if all electing stockholders received the Mixed Consideration. Based on (1) the closing price of Cincinnati Bell’s common shares of $19.45 as of October 27, 2017, (2) the number of shares of Hawaiian Telcom common stock outstanding as of August 8, 2017, (3) the number of shares of Hawaiian Telcom common stock potentially issuable in respect of RSUs under Hawaiian Telcom benefit and compensation plans between August 17, 2017 and the closing date and (4) the number of shares of Hawaiian Telcom common stock potentially issuable in respect of Annual and Retention Bonuses under Hawaiian Telcom benefit and compensation plans outstanding between August 17, 2017 and the closing date (which aggregate number of shares of Hawaiian Telcom common stock in clauses (2) through (4) equals the maximum number of shares of Hawaiian Telcom common stock that could be outstanding as of the closing date), the estimated total consideration, less Hawaiian Telcom’s existing indebtedness of approximately $310 million as of June 30, 2017 to be repaid in conjunction with the merger, is approximately $380 million . The estimated total consideration expected to be transferred may not represent what the actual total consideration transferred will be when the merger is completed. The fair value of equity securities issued as part of the total consideration transferred is required to be measured on the closing date of the merger at the then current number of Hawaiian Telcom shares of common stock outstanding and RSUs that will vest between August 17, 2017 and the closing date. This requirement will likely result in equity and cash components different from what has been estimated as of September 30, 2017. The merger is subject to standard closing conditions including the approval of Hawaiian Telcom's stockholders, the approval of the listing of additional shares of Cincinnati Bell common stock to be issued to Hawaiian Telcom’s stockholders, required federal and state regulatory approvals and other customary closing conditions. We expect the merger to close in the second half of 2018. In connection with the mergers with Hawaiian Telcom and OnX, we secured financing for $1,150 million in senior secured credit facilities and senior notes, as described in Note 3, that, in addition to cash on hand and other sources of liquidity, are expected to be used to repay the existing indebtedness of Hawaiian Telcom, pay the cash consideration for both mergers, repay certain indebtedness of the Company and pay the fees and expenses in connection with both mergers. Basis of Presentation — The Condensed Consolidated Financial Statements of the Company have been prepared pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”) and, in the opinion of management, include all adjustments necessary for a fair presentation of the results of operations, other comprehensive income, financial position and cash flows for each period presented. The adjustments referred to above are of a normal and recurring nature. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) have been condensed or omitted pursuant to SEC rules and regulations for interim reporting. The Condensed Consolidated Balance Sheet as of December 31, 2016 was derived from audited financial statements, but does not include all disclosures required by U.S. GAAP. These Condensed Consolidated Financial Statements should be read in conjunction with the Company’s 2016 Annual Report on Form 10-K. Operating results for the three and nine months ended September 30, 2017 are not necessarily indicative of the results expected for the full year or any other interim period. Business Combinations — In accounting for business combinations, we apply the accounting requirements of ASC 805, “Business Combinations,” which requires the recording of net assets of acquired businesses at fair value. In developing estimates of fair value of acquired assets and assumed liabilities, management analyzes a variety of factors including market data, estimated future cash flows of the acquired operations, industry growth rates, current replacement cost for fixed assets, and market rate assumptions for contractual obligations. Such a valuation requires management to make significant estimates and assumptions, particularly with respect to the intangible assets. In addition, contingent consideration is presented at fair value at the date of acquisition. Transaction costs are expensed as incurred. On February 28, 2017, we acquired SunTel Services, a private company that provides network security, data connectivity, and unified communications solutions to commercial and enterprise customers across multiple sectors throughout Michigan for cash consideration of $10.0 million . Based on final fair value assessment, the acquired assets and liabilities assumed consisted primarily of property plant and equipment of $0.4 million , customer relationship intangible assets of $1.2 million , working capital of $4.1 million and goodwill of $4.3 million . These assets and liabilities are included in the IT Services and Hardware segment. Use of Estimates — Preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported. Actual results could differ from those estimates. In the normal course of business, the Company is subject to various regulatory and tax proceedings, lawsuits, claims and other matters. The Company believes adequate provision has been made for all such asserted and unasserted claims in accordance with U.S. GAAP. Such matters are subject to many uncertainties and outcomes that are not predictable with assurance. Investment in CyrusOne — As of December 31, 2016 , "Investment in CyrusOne" on the Condensed Consolidated Balance Sheets was recorded at fair value, which was determined based on closing market price of CyrusOne Inc. at December 31, 2016 . This investment is classified as Level 1 in the fair value hierarchy. Unrealized gains and losses on our investment in CyrusOne are included in "Accumulated other comprehensive loss", net of taxes on the Condensed Consolidated Balance Sheets. In the first quarter of 2017, we sold our remaining 2.8 million shares of CyrusOne Inc. common stock for net proceeds totaling $140.7 million that resulted in a realized gain of $117.7 million . As of March 31, 2017, we no longer have an investment in CyrusOne Inc. Income Taxes — The Company’s income tax provision for interim periods is determined through the use of an estimated annual effective tax rate applied to year-to-date ordinary income, as well as the tax effects associated with discrete items. The Company expects its effective rate to exceed statutory rates primarily due to non-deductible expenses. During 2016, the Company reclassed $14.5 million of Alternative Minimum Tax ("AMT") refundable tax credits from "Deferred income taxes, net" to "Receivables" as these credits were expected to be utilized during 2017. In the nine months ended September 30, 2017, the Company reclassed an additional $10.2 million from "Deferred income taxes, net" to "Receivables." In the second quarter of 2017, the Company received $14.5 million of payments related to the 2016 AMT tax credits. Acceleration of the AMT refundable tax credits was the result of the Company's decision to make an election on its 2016 federal income tax return to claim the credits in lieu of claiming bonus depreciation. New tax legislation enacted in 2015 increased the amount of AMT credits that can be claimed beginning with the 2016 tax year. The Company plans to make the same election on its 2017 federal income tax return. Recently Issued Accounting Standards — In May 2017, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2017-09, Compensation - Stock Compensation, which amends the scope of modification accounting for share-based payment arrangements. The ASU is effective for public business entities for annual periods beginning after December 15, 2017. The Company plans to prospectively adopt the standard effective January 1, 2018 and will apply the amended guidance to any awards modified on or after this date. In March 2017, the FASB issued ASU 2017-07, Improving the Presentation of Net Period Pension Cost and Net Periodic Postretirement Benefit Cost, which amends the requirements in Accounting Standards Codification ("ASC") 715 related to the income statement presentation of the components of net periodic benefit cost for an entity’s sponsored defined benefit pension and other postretirement plans. The ASU requires entities to disaggregate the current service cost component from the other components of net benefit cost (the “other components”) and present it with other current compensation costs for related employees in the income statement and present the other components elsewhere in the income statement and outside of income from operations if such a subtotal is presented on a retrospective basis as of the date of adoption. In addition, only the service cost component of net benefit cost is eligible for capitalization on a prospective basis. The ASU is effective for public business entities for annual periods beginning after December 15, 2017. The Company plans to adopt the standard effective January 1, 2018, and will be applied retrospectively for prior periods. The Company estimates approximately $2 million and $1 million of other components of net benefit cost will be reclassed from "Cost of Services" and "Selling, general and administrative," respectively, to a new line below Operating income, "Other components of pension and postretirement benefit plans expense," on the Consolidated Statements of Operations upon adoption. In January 2017, the FASB issued ASU 2017-04, Simplifying the Test for Goodwill Impairment, which eliminates Step 2 from the goodwill impairment test. Under the amended guidance, the Company shall now recognize an impairment charge for the amount by which the carrying value exceeds the reporting unit's fair value. The new standard is effective for public entities for annual reporting periods beginning after December 15, 2020, including interim periods within those fiscal years. Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. The Company early adopted the amended guidance effective January 1, 2017 and will apply the guidance when performing the annual impairment test in the fourth quarter of 2017. In November 2016, the FASB issued ASU 2016-16, Statement of Cash Flow - Restricted Cash, which amends ASC 230 to require that a statement of cash flows explain the change during the period in total cash, cash equivalents, and amounts described as restricted cash. As a result, amounts classified as restricted cash will now be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. The new standard is effective for public entities for annual reporting periods beginning after December 15, 2017, including interim periods within those fiscal years. Early adoption is permitted. The Company plans to early adopt the standard effective December 31, 2017. The adoption of this standard will not result in a prior period adjustment for the twelve months ended December 31, 2016. In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flow - Classification of Certain Cash Receipts and Cash Payments, which amends ASC 230 to add or clarify guidance on the classification of certain cash receipts and payments in the statement of cash flows. The FASB issued the ASU with the intent of reducing diversity in practice. The new standard is effective for public entities for annual reporting periods beginning after December 15, 2017, including interim periods within those fiscal years. The impact of adopting this standard effective January 1, 2018 is not expected to have a material affect on the Company’s consolidated statement of cash flows. In March 2016, the FASB issued ASU 2016-09, Compensation - Stock Compensation, which simplifies various aspects related to how share-based payments are accounted for and presented in the financial statements. The new guidance requires excess tax benefits and tax deficiencies to be recorded in the income statement when the awards vest or are settled. In addition, cash flows related to excess tax benefits will no longer be separately classified as a financing activity apart from other income tax cash flows. The standard also allows us to repurchase more of an employee’s shares for tax withholding purposes without triggering liability accounting, clarifies that all cash payments made on an employee’s behalf for withheld shares should be presented as a financing activity on our cash flows statement, and provides an accounting policy election to account for forfeitures as they occur. The new standard was adopted effective January 1, 2017. The primary impact of adoption is the recognition of excess tax benefits in our provision for income taxes rather than paid-in capital starting in the first quarter of fiscal year 2017. Additional amendments to the accounting for income taxes and minimum statutory withholding tax requirements had no impact to retained earnings as of the date of adoption. Effective January 1, 2017, we adopted a prospective company-wide policy change due to the change in accounting principle and now record forfeitures as they are incurred on a go-forward basis. As a result of the change in accounting principle, the cumulative-effect adjustment to retained earnings to account for the accounting policy election was immaterial to the financial statements. The presentation requirements for cash flows related to excess tax benefits were applied retrospectively to all periods presented and did not result in a material impact to prior period net cash provided by operations and net cash used in financing. The presentation requirements for cash flows related to employee taxes paid for withheld shares had no impact to any of the periods presented in our consolidated cash flows statements since such cash flows have historically been presented as a financing activity. In February 2016, the FASB issued ASU 2016-02, Leases, which represents a wholesale change to lease accounting. The standard introduces a lessee model that brings most leases on the balance sheet as well as aligns certain underlying principles of the new lessor model with those in ASC 606. The new standard is effective for public entities for fiscal years beginning after December 15, 2018, and lessees and lessors are required to use a modified retrospective transition method for existing leases. The Company is in the process of evaluating the impact of adoption of this ASU on the Company’s consolidated financial statements. The FASB issued ASU 2016-01, Recognition and Measurement of Financial Assets and Financial Liabilities, which amends the guidance in U.S. GAAP on the classification and measurement of financial instruments in January 2016. The amended guidance requires entities to carry all investments in equity securities at fair value through net income unless the entity has elected the practicability exception to fair value measurement. This standard will be effective for the fiscal year ending December 31, 2018 and will require a cumulative-effect adjustment to beginning retained earnings on this date. The Company is currently in the process of evaluating the impact of adoption of this ASU on the consolidated financial statements. In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers. The standard’s core principle is that a company will recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. This standard also includes expanded disclosure requirements that result in an entity providing users of financial statements with comprehensive information about the nature, amount, timing, and uncertainty of revenue and cash flows arising from the entity’s contracts with customers. In August 2015, ASU 2015-14 was issued deferring the effective date of ASU 2014-09 to annual reporting periods beginning after December 15, 2017 with an optional early application date for annual reporting periods beginning after December 15, 2016. The Company will adopt the standard and all subsequent amendments in the first quarter of the fiscal year ending December 31, 2018. The guidance permits two methods of adoption: retrospectively to each prior reporting period presented (full retrospective method), or retrospectively with the cumulative effect of initially applying the guidance recognized at the date of initial application (the cumulative catch-up transition method). We currently anticipate adopting the standard using the full retrospective method to restate each prior reporting period presented. Our ability to adopt using the full retrospective method is dependent on the successful and timely implementation of a revenue software application procured from a third-party provider, as well as the completion of our analysis of information necessary to restate prior period financial statements. We have reached conclusions on our key accounting assessments related to the standard and are finalizing our accounting policies. Based on our initial assessment, we believe the timing of revenue recognition for our Entertainment and Communications segment, and certain revenue streams within our IT Services and Hardware segment, will not materially change. However, we are continuing to assess the potential impact of the standard on the treatment of Telecom and IT hardware revenue and our current practice of recording hardware revenue on a gross basis versus net. As a part of this assessment, we are analyzing ASU 2016-08, Revenue from Contracts with Customers: Principal versus Agent Considerations (Reporting Revenue Gross versus Net) , issued by the FASB in March 2016. ASU 2016-08 clarifies the implementation guidance on principal versus agent considerations focusing on a control model rather than a risk and reward model. This guidance could materially change revenue and cost of products. In addition, we are still finalizing our accounting policies related to variable consideration, rebates and certain contract assets and liabilities. We are still assessing the full impact of disclosure requirements; however, upon adopting FASB ASC Topic 606, we will provide additional disclosures in the notes to the consolidated financial statements related to disaggregated revenue, contract balances and performance obligations. In preparation for adoption of the standard, we have implemented internal controls, new system functionality and revised business processes to prepare financial information in accordance with the standard. These new processes and procedures ensure data utilized for financial reporting is complete and accurate and is assessed in accordance with the guidelines of the standard. We are assessing new internal controls to address risks associated with applying the five-step model, as well as monitoring controls to identify new sales arrangements or changes in our business environment that will affect our current accounting assessment. No other new accounting pronouncement issued or effective during the year had, or is expected to have, a material impact on the consolidated financial statements.

Earnings Per Common Share

Earnings Per Common Share	9 Months Ended
	Sep. 30, 2017
Earnings Per Share [Abstract]
Earnings Per Share [Text Block]	Earnings Per Common Share Basic earnings per common share (“EPS”) is based upon the weighted average number of common shares outstanding during the period. Diluted EPS reflects the potential dilution that would occur upon the issuance of common shares for awards under stock-based compensation plans, the exercise of warrants or the conversion of preferred stock, but only to the extent that they are considered dilutive. The following table shows the computation of basic and diluted EPS: Three Months Ended September 30, (in millions, except per share amounts) 2017 2016 Numerator: Net (loss) income $ (11.2 ) $ 18.8 Preferred stock dividends 2.6 2.6 Net (loss) income applicable to common shareowners - basic and diluted $ (13.8 ) $ 16.2 Denominator: Weighted average common shares outstanding - basic 42.2 42.0 Stock-based compensation arrangements — 0.1 Weighted average common shares outstanding - diluted 42.2 42.1 Basic (loss) earnings per common share $ (0.33 ) $ 0.39 Diluted (loss) earnings per common share $ (0.33 ) $ 0.38 Nine Months Ended September 30, (in millions, except per share amounts) 2017 2016 Numerator: Net income $ 51.3 $ 103.4 Preferred stock dividends 7.8 7.8 Net income applicable to common shareowners - basic and diluted $ 43.5 $ 95.6 Denominator: Weighted average common shares outstanding - basic 42.1 42.0 Stock-based compensation arrangements 0.2 0.1 Weighted average common shares outstanding - diluted 42.3 42.1 Basic earnings per common share $ 1.03 $ 2.28 Diluted earnings per common share $ 1.03 $ 2.27 For the three months ended September 30, 2017, the Company had a net loss available to common shareholders and, as a result, all common stock equivalents were excluded from the computation of diluted EPS as their inclusion would have been anti-dilutive. For the nine months ended September 30, 2017, awards under the Company's stock-based compensation plans for common shares of 0.2 million were excluded from the computation of diluted EPS as the inclusion would have been anti-dilutive. For the three and nine months ended September 30, 2016 , awards under the Company's stock-based compensation plans for common shares of 0.2 million and 0.4 million , respectively, were excluded from the computation of diluted EPS as the inclusion would have been anti-dilutive. For all periods presented, preferred stock convertible into 0.9 million common shares was excluded as it was anti-dilutive.

Debt

Debt	9 Months Ended
	Sep. 30, 2017
Debt Disclosure [Abstract]
Debt Disclosure [Text Block]	Debt The Company’s debt consists of the following: (dollars in millions) September 30, December 31, Current portion of long-term debt: Capital lease obligations and other debt $ 12.0 $ 7.5 Current portion of long-term debt 12.0 7.5 Long-term debt, less current portion: Receivables Facility — 89.5 Corporate Credit Agreement - Tranche B Term Loan 315.8 315.8 7 1/4% Senior Notes due 2023 22.3 22.3 7 % Senior Notes due 2024 625.0 625.0 Cincinnati Bell Telephone Notes 87.9 87.9 Capital lease obligations and other debt 72.4 62.0 1,123.4 1,202.5 Net unamortized premium 8.0 8.5 Unamortized note issuance costs (10.6 ) (11.9 ) Long-term debt, less current portion 1,120.8 1,199.1 Total debt $ 1,132.8 $ 1,206.6 Corporate Credit Agreement There were no outstanding borrowings on the Corporate Credit Agreement's revolving credit facility, leaving $150.0 million available for borrowings as of September 30, 2017 . On October 2, 2017, the Company entered into a new Credit Agreement (the “Credit Agreement”) and Revolving Credit Facility that terminated the existing Corporate Credit Agreement. New Revolving Credit Facility and Term Loan Facility (Credit Agreement) In October 2017, the Company entered into a new Credit Agreement. The Credit Agreement provides for (i) a five-year $200 million senior secured revolving credit facility (including both a letter of credit subfacility of up to $30 million and a swingline loan subfacility of up to $25 million ) (the “Revolving Credit Facility”) and (ii) a seven-year $600 million senior secured term loan facility (the “Term Loan Facility” and, together with the Revolving Credit Facility, the “Credit Facilities”). The Revolving Credit Facility expires in October 2022 and the Term Loan Facility expires in October 2024. Borrowings under the Credit Facilities will bear interest, at the Company’s option, at a rate per annum determined by reference to either the London Interbank Offered Rate (“LIBOR”) or an adjusted base rate, in each case plus an applicable margin. In the case of the Term Loan Facility, the adjusted base rate and LIBOR will not, in any event, be less than 2.00% and 1.00% , respectively. The applicable margin for the Credit Facilities with respect to LIBOR borrowings will be 3.75% and, with respect to adjusted base rate borrowings, will be 2.75% . In addition, the Company will be required to pay a commitment fee on any unused portion of the Revolving Credit Facility at a rate of 0.50% per annum. On October 2, 2017, the Term Loan Facility net proceeds of $577.0 million , after fees, expenses and note discount, were used to repay the remaining $315.8 million outstanding principal amount of its Tranche B Term Loan and accrued and unpaid interest. As a result, a loss on extinguishment of debt will be recorded in the fourth quarter of approximately $3 million . The remaining proceeds of the Term Loan Facility were used to fund the purchase price and associated transaction costs of the acquisition of OnX that closed on October 2, 2017. As a result of the Company entering into the Credit Agreement in October 2017, certain previously deferred costs associated with the Corporate Credit Agreement's revolving credit facility will be written off in the fourth quarter. The loss on extinguishment of debt associated with the transaction is expected to be less than $1 million . Accounts Receivable Securitization Facility As of September 30, 2017 , the Company had no borrowings and $6.3 million of letters of credit outstanding under the accounts receivable securitization facility ("Receivables Facility"), leaving $96.4 million remaining availability on the total borrowing capacity of $102.7 million . In the second quarter of 2017, the Company executed an amendment of its Receivables Facility, which replaced, amended and added certain provisions and definitions to increase the credit availability and renew the facility, which is subject to renewal every 364 days, until May 2018. The facility's termination date is in May 2019 and was not changed by this amendment. In the event the Receivables Facility is not renewed, the Company has the ability to refinance any outstanding borrowings with borrowings under the Corporate Credit Agreement. Under the terms of the Receivables Facility, the Company could obtain up to $120.0 million depending on the quantity and quality of accounts receivable. Under this agreement, certain subsidiaries, or originators, sell their respective trade receivables on a continuous basis to Cincinnati Bell Funding LLC (“CBF”). Although CBF is a wholly-owned consolidated subsidiary of the Company, CBF is legally separate from the Company and each of the Company’s other subsidiaries. Upon and after the sale or contribution of the accounts receivable to CBF, such accounts receivable are legally assets of CBF and, as such, are not available to creditors of the Company's other subsidiaries or the Company. New 8% Senior Notes due 2025 In October 2017, CB Escrow Corp. (the “Issuer”), an Ohio corporation and wholly owned subsidiary of Cincinnati Bell Inc., closed the private offering of $350 million aggregate principal amount of 8% senior notes due 2025 (the “8% Senior Notes”) at par. The 8% Senior Notes were issued pursuant to an indenture, dated as of October 6, 2017 (the “Indenture”), between the Issuer and Regions Bank, as trustee. Concurrently with the closing of the offering, the Issuer entered into an escrow agreement (the “Escrow Agreement”) pursuant to which the initial purchasers of the 8% Senior Notes on behalf (and at the direction) of the Issuer, deposited the gross proceeds of the offering into an escrow account. The Issuer deposited into the escrow account an additional amount of cash that will be sufficient to pay all interest that would accrue on the Notes up to, but not including, October 9, 2018. The offering of the 8% Senior Notes is part of the financing of the cash portion of the merger consideration for the previously announced acquisition of Hawaiian Telcom Holdco, Inc. (“Hawaiian Telcom”) by the Company (the “HCOM Acquisition”). At the closing of the HCOM Acquisition, the Issuer will merge with and into the Company (the “Escrow Merger”), with the Company continuing as the surviving corporation. At the time of the Escrow Merger, the Company will assume the obligations of the Issuer under the 8% Senior Notes and the Indenture (the “Assumption”) and, subject to the satisfaction of certain other conditions, the proceeds from the offering will be released from the escrow account to the Company. In the event that the HCOM Acquisition has not occurred on or prior to January 9, 2019, the Issuer has notified the escrow agent that the HCOM Acquisition will not be consummated, the Agreement and Plan of Merger, dated as of July 9, 2017, among Hawaiian Telcom, the Company and Twin Acquisition Corp. has been terminated or the Issuer fails, after receiving written notice from the escrow agent of the Issuer’s failure to timely deposit cash into the escrow account equal to 30 days of interest that would accrue on the 8% Senior Notes to deposit such amount of cash within five business days after receipt of such notice, the Issuer will be required to redeem all of the 8% Senior Notes at a redemption price equal to 100% of the initial issue price, plus accrued and unpaid interest to, but excluding, the redemption date. The 8% Senior Notes will bear interest at a rate of 8.000% per annum, payable semi-annually on April 15 and October 15 of each year, beginning on April 15, 2018, to persons who are registered holders of the 8% Senior Notes on the immediately preceding April 1 and October 1, respectively. The 8% Senior Notes will mature on October 15, 2025.

Restructuring and Severance

Restructuring and Severance	9 Months Ended
	Sep. 30, 2017
Restructuring and Related Activities [Abstract]
Restructuring and Related Activities Disclosure [Text Block]	Restructuring and Severance Liabilities have been established for employee separations and lease abandonment. A summary of activity in the restructuring and severance liability is shown below: (dollars in millions) Employee Separation Lease Abandonment Total Balance as of December 31, 2016 $ 11.0 $ 0.2 $ 11.2 Charges 25.6 — 25.6 Utilizations (12.7 ) — (12.7 ) Balance as of March 31, 2017 23.9 0.2 24.1 Charges 3.6 — 3.6 Utilizations (4.4 ) — (4.4 ) Balance as of June 30, 2017 23.1 0.2 23.3 Charges — — — Utilizations (9.8 ) (0.1 ) (9.9 ) Balance as of September 30, 2017 $ 13.3 $ 0.1 $ 13.4 The Company had no severance charges in the third quarter of 2017. In the second quarter of 2017, the Company initiated reorganizations within both segments of the business in order to more appropriately align the Company for future growth. As a result, head count reductions were made resulting in a $3.6 million severance charge. In the first quarter of 2017, the Company finalized a voluntary severance program for certain bargained employees related to an initiative to reduce field and network costs within our legacy copper network. As a result, a severance charge of $25.6 million was recorded to the Entertainment and Communications segment. The Company made severance payments during the nine months ended September 30, 2017 for employee separations associated with the previously discussed initiatives. Lease abandonment costs represent future minimum lease obligations, net of expected sublease income, for abandoned facilities. Lease payments on abandoned facilities will continue through 2019. A summary of restructuring activity by business segment is presented below: (dollars in millions) Entertainment and Communications IT Services and Hardware Corporate Total Balance as of December 31, 2016 $ 7.5 $ 3.0 $ 0.7 $ 11.2 Charges 25.6 — — 25.6 Utilizations (9.8 ) (2.3 ) (0.6 ) (12.7 ) Balance as of March 31, 2017 23.3 0.7 0.1 24.1 Charges 1.3 2.3 — 3.6 Utilizations (3.6 ) (0.8 ) — (4.4 ) Balance as of June 30, 2017 21.0 2.2 0.1 23.3 Charges — — — — Utilizations (8.1 ) (1.7 ) (0.1 ) (9.9 ) Balance as of September 30, 2017 $ 12.9 $ 0.5 $ — $ 13.4 At September 30, 2017 and December 31, 2016 , $4.7 million and $7.4 million , respectively, of the restructuring and severance liabilities were included in “Other current liabilities.” At September 30, 2017 and December 31, 2016, $8.7 million and $3.8 million was included in "Other noncurrent liabilities," respectively.

Financial Instruments and Fair

Financial Instruments and Fair Value Measurements	9 Months Ended
	Sep. 30, 2017
Fair Value Disclosures [Abstract]
Fair Value Disclosures [Text Block]	Financial Instruments and Fair Value Measurements The carrying values of the Company's financial instruments approximate the estimated fair values as of September 30, 2017 and December 31, 2016 , except for the Company's long-term debt. The carrying and fair values of these financial instruments are as follows: September 30, 2017 December 31, 2016 (dollars in millions) Carrying Value Fair Value Carrying Value Fair Value Long-term debt, including current portion* $ 1,059.1 $ 1,041.0 $ 1,149.2 $ 1,177.9 *Excludes capital leases and note issuance costs. The fair value of our long-term debt was based on closing or estimated market prices of the Company’s debt at September 30, 2017 and December 31, 2016 , which is considered Level 2 of the fair value hierarchy. Non-Recurring Fair Value Measurements Certain long-lived assets are required to be measured at fair value on a non-recurring basis subsequent to their initial measurement. These non-recurring fair value measurements generally occur when evidence of impairment has occurred. In the third quarter of 2017 an equity method investment recorded within “Other noncurrent assets” in the Consolidated Balance Sheets was remeasured at fair value due to a triggering event identified by management. As a result of the fair value analysis, the entire carrying value of $4.7 million was impaired and recorded to "Other expense (income), net" on the Consolidated Statements of Operations. This fair value measurement is considered a Level 3 measurement due to the significance of its unobservable inputs.

Pension and Postretirement Plan

Pension and Postretirement Plans	9 Months Ended
	Sep. 30, 2017
Retirement Benefits, Description [Abstract]
Pension and Other Postretirement Benefits Disclosure [Text Block]	Pension and Postretirement Plans The Company sponsors three noncontributory defined benefit plans and a postretirement health and life insurance plan. For the three and nine months ended September 30, 2017, approximately 13% of the costs were capitalized as a component of property, plant and equipment related to construction of our copper and fiber networks. For the three and nine months ended September 30, 2016 , approximately 10% of the costs were capitalized as a component of property, plant and equipment related to construction of our copper and fiber networks. For the three and nine months ended September 30, 2017 and 2016 , pension and postretirement benefit costs were as follows: Three Months Ended September 30, 2017 2016 2017 2016 (dollars in millions) Pension Benefits Postretirement and Other Benefits Service cost $ — $ — $ 0.1 $ 0.1 Interest cost on projected benefit obligation 4.9 4.9 0.8 0.8 Expected return on plan assets (6.5 ) (6.9 ) — — Amortization of: Prior service cost (benefit) — 0.1 (1.2 ) (3.7 ) Actuarial loss 4.3 4.7 1.2 1.2 Total amortization 4.3 4.8 — (2.5 ) Pension / postretirement costs (benefits) $ 2.7 $ 2.8 $ 0.9 $ (1.6 ) Nine Months Ended September 30, 2017 2016 2017 2016 (dollars in millions) Pension Benefits Postretirement and Other Benefits Service cost $ — $ — $ 0.2 $ 0.2 Interest cost on projected benefit obligation 14.6 14.5 2.4 2.5 Expected return on plan assets (19.5 ) (20.5 ) — — Amortization of: Prior service cost (benefit) — 0.1 (3.4 ) (11.1 ) Actuarial loss 13.1 14.3 3.5 3.7 Total amortization 13.1 14.4 0.1 (7.4 ) Pension / postretirement costs (benefits) $ 8.2 $ 8.4 $ 2.7 $ (4.7 ) Amortizations of prior service cost (benefit) and actuarial loss represent reclassifications from accumulated other comprehensive income. Based on current assumptions, contributions to qualified and non-qualified pension plans in 2017 are expected to be approximately $2 million each. Management expects to make cash payments of approximately $9 million related to its postretirement health plans in 2017 . For the nine months ended September 30, 2017 , contributions to the pension plans were $3.3 million and contributions to the postretirement plan were $5.5 million .

Shareowners' Deficit

Shareowners' Deficit	9 Months Ended
	Sep. 30, 2017
Shareowners' Deficit [Abstract]
Stockholders' Equity Note Disclosure [Text Block]	Shareowners' Deficit Accumulated Other Comprehensive Loss For the nine months ended September 30, 2017 , the changes in accumulated other comprehensive loss by component were as follows: (dollars in millions) Unrecognized Net Periodic Pension and Postretirement Benefit Cost Unrealized gain on Investment in CyrusOne Foreign Currency Translation Loss Total Balance as of December 31, 2016 $ (157.6 ) $ 68.1 $ (0.8 ) $ (90.3 ) Unrealized gain on Investment in CyrusOne, net — 8.3 (a) — 8.3 Reclassifications, net 8.5 (b) (76.4 ) (c) — (67.9 ) Foreign currency gain $ — $ — $ 0.1 $ 0.1 Balance as of September 30, 2017 $ (149.1 ) $ — $ (0.7 ) $ (149.8 ) (a) The unrealized gain on Investment in CyrusOne, net of tax, represents changes in the fair value of CyrusOne shares of common stock owned by the Company during the period, before any subsequent sales of those shares. (b) These reclassifications are included in the components of net periodic pension and postretirement benefit costs (see Note 6 for additional details). The components of net periodic pension and postretirement benefit cost are reported within "Cost of services," "Cost of products sold," and "Selling, general and administrative" expenses on the Condensed Consolidated Statements of Operations. (c) These reclassifications are reported within "Gain on sale of Investment in CyrusOne" on the Condensed Consolidated Statements of Operations.

Business Segment Information

Business Segment Information	9 Months Ended
	Sep. 30, 2017
Segment Reporting [Abstract]
Segment Reporting Disclosure [Text Block]	Business Segment Information The Company’s segments are strategic business units that offer distinct products and services and are aligned with its internal management structure and reporting. The Entertainment and Communications segment provides products and services such as data transport, high-speed internet, video, local voice, long distance, voice over internet protocol ("VoIP") and other services. The IT Services and Hardware segment provides a range of fully managed and outsourced IT and telecommunications services along with the sale, installation and maintenance of major branded Telecom and IT hardware. Certain corporate administrative expenses have been allocated to the segments based upon the nature of the expense and the relative size of the segment. Intercompany transactions between segments have been eliminated. Selected financial data for the Company’s business segment information is as follows: Three Months Ended Nine Months Ended September 30, September 30, (dollars in millions) 2017 2016 2017 2016 Revenue Entertainment and Communications $ 196.2 $ 193.0 $ 592.9 $ 575.8 IT Services and Hardware 96.3 122.9 278.5 335.2 Intersegment (3.3 ) (3.5 ) (10.0 ) (10.5 ) Total revenue $ 289.2 $ 312.4 $ 861.4 $ 900.5 Intersegment revenue Entertainment and Communications $ 0.4 $ 0.4 $ 1.3 $ 1.0 IT Services and Hardware 2.9 3.1 8.7 9.5 Total intersegment revenue $ 3.3 $ 3.5 $ 10.0 $ 10.5 Operating income Entertainment and Communications $ 25.0 $ 21.1 $ 49.8 $ 76.0 IT Services and Hardware 4.8 7.8 7.9 21.9 Corporate (17.1 ) (3.4 ) (29.4 ) (15.4 ) Total operating income $ 12.7 $ 25.5 $ 28.3 $ 82.5 Expenditures for long-lived assets Entertainment and Communications $ 41.4 $ 63.1 $ 138.9 $ 178.7 IT Services and Hardware 1.6 4.1 18.9 9.9 Corporate — — — 0.2 Total expenditures for long-lived assets $ 43.0 $ 67.2 $ 157.8 $ 188.8 Depreciation and amortization Entertainment and Communications $ 43.9 $ 43.0 $ 129.1 $ 124.8 IT Services and Hardware 3.4 3.4 10.9 9.8 Corporate — 0.1 0.1 0.1 Total depreciation and amortization $ 47.3 $ 46.5 $ 140.1 $ 134.7 September 30, December 31, Assets Entertainment and Communications $ 1,114.7 $ 1,093.5 IT Services and Hardware 85.9 60.0 Corporate and eliminations 256.7 387.5 Total assets $ 1,457.3 $ 1,541.0

Description of Business and A16

Description of Business and Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation — The Condensed Consolidated Financial Statements of the Company have been prepared pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”) and, in the opinion of management, include all adjustments necessary for a fair presentation of the results of operations, other comprehensive income, financial position and cash flows for each period presented. The adjustments referred to above are of a normal and recurring nature. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) have been condensed or omitted pursuant to SEC rules and regulations for interim reporting. The Condensed Consolidated Balance Sheet as of December 31, 2016 was derived from audited financial statements, but does not include all disclosures required by U.S. GAAP. These Condensed Consolidated Financial Statements should be read in conjunction with the Company’s 2016 Annual Report on Form 10-K. Operating results for the three and nine months ended September 30, 2017 are not necessarily indicative of the results expected for the full year or any other interim period.
Business Combinations	Business Combinations — In accounting for business combinations, we apply the accounting requirements of ASC 805, “Business Combinations,” which requires the recording of net assets of acquired businesses at fair value. In developing estimates of fair value of acquired assets and assumed liabilities, management analyzes a variety of factors including market data, estimated future cash flows of the acquired operations, industry growth rates, current replacement cost for fixed assets, and market rate assumptions for contractual obligations. Such a valuation requires management to make significant estimates and assumptions, particularly with respect to the intangible assets. In addition, contingent consideration is presented at fair value at the date of acquisition. Transaction costs are expensed as incurred. On February 28, 2017, we acquired SunTel Services, a private company that provides network security, data connectivity, and unified communications solutions to commercial and enterprise customers across multiple sectors throughout Michigan for cash consideration of $10.0 million . Based on final fair value assessment, the acquired assets and liabilities assumed consisted primarily of property plant and equipment of $0.4 million , customer relationship intangible assets of $1.2 million , working capital of $4.1 million and goodwill of $4.3 million . These assets and liabilities are included in the IT Services and Hardware segment. Merger and Acquisition Activity — On October 2, 2017, we consummated our previously announced acquisition of OnX Holdings LLC ("OnX"), a privately held company that provides technology services and solutions to enterprise customers in the U.S., Canada and the U.K. The acquisition of OnX, originally announced on July 10, 2017, indicated that the purchase price of $201 million was subject to customary post-closing adjustments. Based on preliminary working capital adjustments, the cash consideration exchanged for the acquisition on October 2, 2017 was $242.3 million . The final purchase price is subject to completion of post-closing adjustments. The initial accounting for the business combination was not complete at the time the financial statements were issued due to the timing of the acquisition and the filing of this Quarterly Report on Form 10-Q. As a result, disclosures required under ASC 805-10-50, Business Combinations, are not possible at this time. On July 9, 2017, the Company and Hawaiian Telcom Holdco, Inc., a Delaware corporation (“Hawaiian Telcom”), entered into an Agreement and Plan of Merger (the "Hawaiian Telcom Merger Agreement") providing for the merger of Hawaiian Telcom with a wholly-owned subsidiary of the Company in exchange for the consideration described below. Hawaiian Telcom is a fiber-centric technology leader providing voice, video, broadband, data center and cloud solutions to consumer, business and wholesale customers on the Hawaiian islands. At the effective time of the merger, each share of Hawaiian Telcom common stock, par value of $0.01 per share, issued and outstanding immediately prior to the effective time of the merger will be converted into the right to receive, at the holder’s election and subject to proration as set forth in the Hawaiian Telcom Merger Agreement (1) 1.6305 common shares, par value $0.01 per share, of the Company (the “Company Common Shares”) (the “Share Consideration”); (2) 0.6522 Company Common Shares and $18.45 in cash, without interest (the “Mixed Consideration”); or (3) $30.75 in cash, without interest (the “Cash Consideration”). Hawaiian Telcom stockholders who elect to receive the Share Consideration or the Cash Consideration will be subject to proration to ensure that the aggregate number of Company Common Shares to be issued by the Company in the Hawaiian Telcom Merger and the aggregate amount of cash to be paid in the Hawaiian Telcom Merger will be the same as if all electing stockholders received the Mixed Consideration. Based on (1) the closing price of Cincinnati Bell’s common shares of $19.45 as of October 27, 2017, (2) the number of shares of Hawaiian Telcom common stock outstanding as of August 8, 2017, (3) the number of shares of Hawaiian Telcom common stock potentially issuable in respect of RSUs under Hawaiian Telcom benefit and compensation plans between August 17, 2017 and the closing date and (4) the number of shares of Hawaiian Telcom common stock potentially issuable in respect of Annual and Retention Bonuses under Hawaiian Telcom benefit and compensation plans outstanding between August 17, 2017 and the closing date (which aggregate number of shares of Hawaiian Telcom common stock in clauses (2) through (4) equals the maximum number of shares of Hawaiian Telcom common stock that could be outstanding as of the closing date), the estimated total consideration, less Hawaiian Telcom’s existing indebtedness of approximately $310 million as of June 30, 2017 to be repaid in conjunction with the merger, is approximately $380 million . The estimated total consideration expected to be transferred may not represent what the actual total consideration transferred will be when the merger is completed. The fair value of equity securities issued as part of the total consideration transferred is required to be measured on the closing date of the merger at the then current number of Hawaiian Telcom shares of common stock outstanding and RSUs that will vest between August 17, 2017 and the closing date. This requirement will likely result in equity and cash components different from what has been estimated as of September 30, 2017. The merger is subject to standard closing conditions including the approval of Hawaiian Telcom's stockholders, the approval of the listing of additional shares of Cincinnati Bell common stock to be issued to Hawaiian Telcom’s stockholders, required federal and state regulatory approvals and other customary closing conditions. We expect the merger to close in the second half of 2018. In connection with the mergers with Hawaiian Telcom and OnX, we secured financing for $1,150 million in senior secured credit facilities and senior notes, as described in Note 3, that, in addition to cash on hand and other sources of liquidity, are expected to be used to repay the existing indebtedness of Hawaiian Telcom, pay the cash consideration for both mergers, repay certain indebtedness of the Company and pay the fees and expenses in connection with both mergers.
Use of Estimates	Use of Estimates — Preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported. Actual results could differ from those estimates. In the normal course of business, the Company is subject to various regulatory and tax proceedings, lawsuits, claims and other matters. The Company believes adequate provision has been made for all such asserted and unasserted claims in accordance with U.S. GAAP. Such matters are subject to many uncertainties and outcomes that are not predictable with assurance.
Investment is CyrusOne	Investment in CyrusOne — As of December 31, 2016 , "Investment in CyrusOne" on the Condensed Consolidated Balance Sheets was recorded at fair value, which was determined based on closing market price of CyrusOne Inc. at December 31, 2016 . This investment is classified as Level 1 in the fair value hierarchy. Unrealized gains and losses on our investment in CyrusOne are included in "Accumulated other comprehensive loss", net of taxes on the Condensed Consolidated Balance Sheets. In the first quarter of 2017, we sold our remaining 2.8 million shares of CyrusOne Inc. common stock for net proceeds totaling $140.7 million that resulted in a realized gain of $117.7 million . As of March 31, 2017, we no longer have an investment in CyrusOne Inc.
Income Taxes	Income Taxes — The Company’s income tax provision for interim periods is determined through the use of an estimated annual effective tax rate applied to year-to-date ordinary income, as well as the tax effects associated with discrete items. The Company expects its effective rate to exceed statutory rates primarily due to non-deductible expenses. During 2016, the Company reclassed $14.5 million of Alternative Minimum Tax ("AMT") refundable tax credits from "Deferred income taxes, net" to "Receivables" as these credits were expected to be utilized during 2017. In the nine months ended September 30, 2017, the Company reclassed an additional $10.2 million from "Deferred income taxes, net" to "Receivables." In the second quarter of 2017, the Company received $14.5 million of payments related to the 2016 AMT tax credits. Acceleration of the AMT refundable tax credits was the result of the Company's decision to make an election on its 2016 federal income tax return to claim the credits in lieu of claiming bonus depreciation. New tax legislation enacted in 2015 increased the amount of AMT credits that can be claimed beginning with the 2016 tax year. The Company plans to make the same election on its 2017 federal income tax return.
Recently Issued Accounting Standards	Recently Issued Accounting Standards — In May 2017, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2017-09, Compensation - Stock Compensation, which amends the scope of modification accounting for share-based payment arrangements. The ASU is effective for public business entities for annual periods beginning after December 15, 2017. The Company plans to prospectively adopt the standard effective January 1, 2018 and will apply the amended guidance to any awards modified on or after this date. In March 2017, the FASB issued ASU 2017-07, Improving the Presentation of Net Period Pension Cost and Net Periodic Postretirement Benefit Cost, which amends the requirements in Accounting Standards Codification ("ASC") 715 related to the income statement presentation of the components of net periodic benefit cost for an entity’s sponsored defined benefit pension and other postretirement plans. The ASU requires entities to disaggregate the current service cost component from the other components of net benefit cost (the “other components”) and present it with other current compensation costs for related employees in the income statement and present the other components elsewhere in the income statement and outside of income from operations if such a subtotal is presented on a retrospective basis as of the date of adoption. In addition, only the service cost component of net benefit cost is eligible for capitalization on a prospective basis. The ASU is effective for public business entities for annual periods beginning after December 15, 2017. The Company plans to adopt the standard effective January 1, 2018, and will be applied retrospectively for prior periods. The Company estimates approximately $2 million and $1 million of other components of net benefit cost will be reclassed from "Cost of Services" and "Selling, general and administrative," respectively, to a new line below Operating income, "Other components of pension and postretirement benefit plans expense," on the Consolidated Statements of Operations upon adoption. In January 2017, the FASB issued ASU 2017-04, Simplifying the Test for Goodwill Impairment, which eliminates Step 2 from the goodwill impairment test. Under the amended guidance, the Company shall now recognize an impairment charge for the amount by which the carrying value exceeds the reporting unit's fair value. The new standard is effective for public entities for annual reporting periods beginning after December 15, 2020, including interim periods within those fiscal years. Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. The Company early adopted the amended guidance effective January 1, 2017 and will apply the guidance when performing the annual impairment test in the fourth quarter of 2017. In November 2016, the FASB issued ASU 2016-16, Statement of Cash Flow - Restricted Cash, which amends ASC 230 to require that a statement of cash flows explain the change during the period in total cash, cash equivalents, and amounts described as restricted cash. As a result, amounts classified as restricted cash will now be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. The new standard is effective for public entities for annual reporting periods beginning after December 15, 2017, including interim periods within those fiscal years. Early adoption is permitted. The Company plans to early adopt the standard effective December 31, 2017. The adoption of this standard will not result in a prior period adjustment for the twelve months ended December 31, 2016. In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flow - Classification of Certain Cash Receipts and Cash Payments, which amends ASC 230 to add or clarify guidance on the classification of certain cash receipts and payments in the statement of cash flows. The FASB issued the ASU with the intent of reducing diversity in practice. The new standard is effective for public entities for annual reporting periods beginning after December 15, 2017, including interim periods within those fiscal years. The impact of adopting this standard effective January 1, 2018 is not expected to have a material affect on the Company’s consolidated statement of cash flows. In March 2016, the FASB issued ASU 2016-09, Compensation - Stock Compensation, which simplifies various aspects related to how share-based payments are accounted for and presented in the financial statements. The new guidance requires excess tax benefits and tax deficiencies to be recorded in the income statement when the awards vest or are settled. In addition, cash flows related to excess tax benefits will no longer be separately classified as a financing activity apart from other income tax cash flows. The standard also allows us to repurchase more of an employee’s shares for tax withholding purposes without triggering liability accounting, clarifies that all cash payments made on an employee’s behalf for withheld shares should be presented as a financing activity on our cash flows statement, and provides an accounting policy election to account for forfeitures as they occur. The new standard was adopted effective January 1, 2017. The primary impact of adoption is the recognition of excess tax benefits in our provision for income taxes rather than paid-in capital starting in the first quarter of fiscal year 2017. Additional amendments to the accounting for income taxes and minimum statutory withholding tax requirements had no impact to retained earnings as of the date of adoption. Effective January 1, 2017, we adopted a prospective company-wide policy change due to the change in accounting principle and now record forfeitures as they are incurred on a go-forward basis. As a result of the change in accounting principle, the cumulative-effect adjustment to retained earnings to account for the accounting policy election was immaterial to the financial statements. The presentation requirements for cash flows related to excess tax benefits were applied retrospectively to all periods presented and did not result in a material impact to prior period net cash provided by operations and net cash used in financing. The presentation requirements for cash flows related to employee taxes paid for withheld shares had no impact to any of the periods presented in our consolidated cash flows statements since such cash flows have historically been presented as a financing activity. In February 2016, the FASB issued ASU 2016-02, Leases, which represents a wholesale change to lease accounting. The standard introduces a lessee model that brings most leases on the balance sheet as well as aligns certain underlying principles of the new lessor model with those in ASC 606. The new standard is effective for public entities for fiscal years beginning after December 15, 2018, and lessees and lessors are required to use a modified retrospective transition method for existing leases. The Company is in the process of evaluating the impact of adoption of this ASU on the Company’s consolidated financial statements. The FASB issued ASU 2016-01, Recognition and Measurement of Financial Assets and Financial Liabilities, which amends the guidance in U.S. GAAP on the classification and measurement of financial instruments in January 2016. The amended guidance requires entities to carry all investments in equity securities at fair value through net income unless the entity has elected the practicability exception to fair value measurement. This standard will be effective for the fiscal year ending December 31, 2018 and will require a cumulative-effect adjustment to beginning retained earnings on this date. The Company is currently in the process of evaluating the impact of adoption of this ASU on the consolidated financial statements. In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers. The standard’s core principle is that a company will recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. This standard also includes expanded disclosure requirements that result in an entity providing users of financial statements with comprehensive information about the nature, amount, timing, and uncertainty of revenue and cash flows arising from the entity’s contracts with customers. In August 2015, ASU 2015-14 was issued deferring the effective date of ASU 2014-09 to annual reporting periods beginning after December 15, 2017 with an optional early application date for annual reporting periods beginning after December 15, 2016. The Company will adopt the standard and all subsequent amendments in the first quarter of the fiscal year ending December 31, 2018. The guidance permits two methods of adoption: retrospectively to each prior reporting period presented (full retrospective method), or retrospectively with the cumulative effect of initially applying the guidance recognized at the date of initial application (the cumulative catch-up transition method). We currently anticipate adopting the standard using the full retrospective method to restate each prior reporting period presented. Our ability to adopt using the full retrospective method is dependent on the successful and timely implementation of a revenue software application procured from a third-party provider, as well as the completion of our analysis of information necessary to restate prior period financial statements. We have reached conclusions on our key accounting assessments related to the standard and are finalizing our accounting policies. Based on our initial assessment, we believe the timing of revenue recognition for our Entertainment and Communications segment, and certain revenue streams within our IT Services and Hardware segment, will not materially change. However, we are continuing to assess the potential impact of the standard on the treatment of Telecom and IT hardware revenue and our current practice of recording hardware revenue on a gross basis versus net. As a part of this assessment, we are analyzing ASU 2016-08, Revenue from Contracts with Customers: Principal versus Agent Considerations (Reporting Revenue Gross versus Net) , issued by the FASB in March 2016. ASU 2016-08 clarifies the implementation guidance on principal versus agent considerations focusing on a control model rather than a risk and reward model. This guidance could materially change revenue and cost of products. In addition, we are still finalizing our accounting policies related to variable consideration, rebates and certain contract assets and liabilities. We are still assessing the full impact of disclosure requirements; however, upon adopting FASB ASC Topic 606, we will provide additional disclosures in the notes to the consolidated financial statements related to disaggregated revenue, contract balances and performance obligations. In preparation for adoption of the standard, we have implemented internal controls, new system functionality and revised business processes to prepare financial information in accordance with the standard. These new processes and procedures ensure data utilized for financial reporting is complete and accurate and is assessed in accordance with the guidelines of the standard. We are assessing new internal controls to address risks associated with applying the five-step model, as well as monitoring controls to identify new sales arrangements or changes in our business environment that will affect our current accounting assessment. No other new accounting pronouncement issued or effective during the year had, or is expected to have, a material impact on the consolidated financial statements.
Earnings Per Share	Basic earnings per common share (“EPS”) is based upon the weighted average number of common shares outstanding during the period. Diluted EPS reflects the potential dilution that would occur upon the issuance of common shares for awards under stock-based compensation plans, the exercise of warrants or the conversion of preferred stock, but only to the extent that they are considered dilutive.
Fair Value Measurement	The fair value of our long-term debt was based on closing or estimated market prices of the Company’s debt at September 30, 2017 and December 31, 2016 , which is considered Level 2 of the fair value hierarchy.

Earnings Per Common Share (Tabl

Earnings Per Common Share (Tables)	9 Months Ended
	Sep. 30, 2017
Earnings Per Share [Abstract]
Schedule of Calculation of Numerator and Denominator in Earnings Per Share [Table Text Block]	The following table shows the computation of basic and diluted EPS: Three Months Ended September 30, (in millions, except per share amounts) 2017 2016 Numerator: Net (loss) income $ (11.2 ) $ 18.8 Preferred stock dividends 2.6 2.6 Net (loss) income applicable to common shareowners - basic and diluted $ (13.8 ) $ 16.2 Denominator: Weighted average common shares outstanding - basic 42.2 42.0 Stock-based compensation arrangements — 0.1 Weighted average common shares outstanding - diluted 42.2 42.1 Basic (loss) earnings per common share $ (0.33 ) $ 0.39 Diluted (loss) earnings per common share $ (0.33 ) $ 0.38 Nine Months Ended September 30, (in millions, except per share amounts) 2017 2016 Numerator: Net income $ 51.3 $ 103.4 Preferred stock dividends 7.8 7.8 Net income applicable to common shareowners - basic and diluted $ 43.5 $ 95.6 Denominator: Weighted average common shares outstanding - basic 42.1 42.0 Stock-based compensation arrangements 0.2 0.1 Weighted average common shares outstanding - diluted 42.3 42.1 Basic earnings per common share $ 1.03 $ 2.28 Diluted earnings per common share $ 1.03 $ 2.27

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2017
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments [Table Text Block]	The Company’s debt consists of the following: (dollars in millions) September 30, December 31, Current portion of long-term debt: Capital lease obligations and other debt $ 12.0 $ 7.5 Current portion of long-term debt 12.0 7.5 Long-term debt, less current portion: Receivables Facility — 89.5 Corporate Credit Agreement - Tranche B Term Loan 315.8 315.8 7 1/4% Senior Notes due 2023 22.3 22.3 7 % Senior Notes due 2024 625.0 625.0 Cincinnati Bell Telephone Notes 87.9 87.9 Capital lease obligations and other debt 72.4 62.0 1,123.4 1,202.5 Net unamortized premium 8.0 8.5 Unamortized note issuance costs (10.6 ) (11.9 ) Long-term debt, less current portion 1,120.8 1,199.1 Total debt $ 1,132.8 $ 1,206.6

Restructuring and Severance (Ta

Restructuring and Severance (Tables)	9 Months Ended
	Sep. 30, 2017
Restructuring and Related Activities [Abstract]
Restructuring and Related Costs [Table Text Block]	A summary of activity in the restructuring and severance liability is shown below: (dollars in millions) Employee Separation Lease Abandonment Total Balance as of December 31, 2016 $ 11.0 $ 0.2 $ 11.2 Charges 25.6 — 25.6 Utilizations (12.7 ) — (12.7 ) Balance as of March 31, 2017 23.9 0.2 24.1 Charges 3.6 — 3.6 Utilizations (4.4 ) — (4.4 ) Balance as of June 30, 2017 23.1 0.2 23.3 Charges — — — Utilizations (9.8 ) (0.1 ) (9.9 ) Balance as of September 30, 2017 $ 13.3 $ 0.1 $ 13.4
Schedule of Restructuring and Related Costs by Segment [Table Text Block]	A summary of restructuring activity by business segment is presented below: (dollars in millions) Entertainment and Communications IT Services and Hardware Corporate Total Balance as of December 31, 2016 $ 7.5 $ 3.0 $ 0.7 $ 11.2 Charges 25.6 — — 25.6 Utilizations (9.8 ) (2.3 ) (0.6 ) (12.7 ) Balance as of March 31, 2017 23.3 0.7 0.1 24.1 Charges 1.3 2.3 — 3.6 Utilizations (3.6 ) (0.8 ) — (4.4 ) Balance as of June 30, 2017 21.0 2.2 0.1 23.3 Charges — — — — Utilizations (8.1 ) (1.7 ) (0.1 ) (9.9 ) Balance as of September 30, 2017 $ 12.9 $ 0.5 $ — $ 13.4

Financial Instruments and Fai20

Financial Instruments and Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2017
Fair Value Disclosures [Abstract]
Fair Value, by Balance Sheet Grouping [Table Text Block]	The carrying and fair values of these financial instruments are as follows: September 30, 2017 December 31, 2016 (dollars in millions) Carrying Value Fair Value Carrying Value Fair Value Long-term debt, including current portion* $ 1,059.1 $ 1,041.0 $ 1,149.2 $ 1,177.9 *Excludes capital leases and note issuance costs.

Pension and Postretirement Pl21

Pension and Postretirement Plans (Tables)	9 Months Ended
	Sep. 30, 2017
Retirement Benefits, Description [Abstract]
Schedule of Net Benefit Costs [Table Text Block]	For the three and nine months ended September 30, 2017 and 2016 , pension and postretirement benefit costs were as follows: Three Months Ended September 30, 2017 2016 2017 2016 (dollars in millions) Pension Benefits Postretirement and Other Benefits Service cost $ — $ — $ 0.1 $ 0.1 Interest cost on projected benefit obligation 4.9 4.9 0.8 0.8 Expected return on plan assets (6.5 ) (6.9 ) — — Amortization of: Prior service cost (benefit) — 0.1 (1.2 ) (3.7 ) Actuarial loss 4.3 4.7 1.2 1.2 Total amortization 4.3 4.8 — (2.5 ) Pension / postretirement costs (benefits) $ 2.7 $ 2.8 $ 0.9 $ (1.6 ) Nine Months Ended September 30, 2017 2016 2017 2016 (dollars in millions) Pension Benefits Postretirement and Other Benefits Service cost $ — $ — $ 0.2 $ 0.2 Interest cost on projected benefit obligation 14.6 14.5 2.4 2.5 Expected return on plan assets (19.5 ) (20.5 ) — — Amortization of: Prior service cost (benefit) — 0.1 (3.4 ) (11.1 ) Actuarial loss 13.1 14.3 3.5 3.7 Total amortization 13.1 14.4 0.1 (7.4 ) Pension / postretirement costs (benefits) $ 8.2 $ 8.4 $ 2.7 $ (4.7 )

Shareowners' Deficit (Tables)

Shareowners' Deficit (Tables)	9 Months Ended
	Sep. 30, 2017
Shareowners' Deficit [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]	For the nine months ended September 30, 2017 , the changes in accumulated other comprehensive loss by component were as follows: (dollars in millions) Unrecognized Net Periodic Pension and Postretirement Benefit Cost Unrealized gain on Investment in CyrusOne Foreign Currency Translation Loss Total Balance as of December 31, 2016 $ (157.6 ) $ 68.1 $ (0.8 ) $ (90.3 ) Unrealized gain on Investment in CyrusOne, net — 8.3 (a) — 8.3 Reclassifications, net 8.5 (b) (76.4 ) (c) — (67.9 ) Foreign currency gain $ — $ — $ 0.1 $ 0.1 Balance as of September 30, 2017 $ (149.1 ) $ — $ (0.7 ) $ (149.8 )

Business Segment Information (T

Business Segment Information (Tables)	9 Months Ended
	Sep. 30, 2017
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Selected financial data for the Company’s business segment information is as follows: Three Months Ended Nine Months Ended September 30, September 30, (dollars in millions) 2017 2016 2017 2016 Revenue Entertainment and Communications $ 196.2 $ 193.0 $ 592.9 $ 575.8 IT Services and Hardware 96.3 122.9 278.5 335.2 Intersegment (3.3 ) (3.5 ) (10.0 ) (10.5 ) Total revenue $ 289.2 $ 312.4 $ 861.4 $ 900.5 Intersegment revenue Entertainment and Communications $ 0.4 $ 0.4 $ 1.3 $ 1.0 IT Services and Hardware 2.9 3.1 8.7 9.5 Total intersegment revenue $ 3.3 $ 3.5 $ 10.0 $ 10.5 Operating income Entertainment and Communications $ 25.0 $ 21.1 $ 49.8 $ 76.0 IT Services and Hardware 4.8 7.8 7.9 21.9 Corporate (17.1 ) (3.4 ) (29.4 ) (15.4 ) Total operating income $ 12.7 $ 25.5 $ 28.3 $ 82.5 Expenditures for long-lived assets Entertainment and Communications $ 41.4 $ 63.1 $ 138.9 $ 178.7 IT Services and Hardware 1.6 4.1 18.9 9.9 Corporate — — — 0.2 Total expenditures for long-lived assets $ 43.0 $ 67.2 $ 157.8 $ 188.8 Depreciation and amortization Entertainment and Communications $ 43.9 $ 43.0 $ 129.1 $ 124.8 IT Services and Hardware 3.4 3.4 10.9 9.8 Corporate — 0.1 0.1 0.1 Total depreciation and amortization $ 47.3 $ 46.5 $ 140.1 $ 134.7 September 30, December 31, Assets Entertainment and Communications $ 1,114.7 $ 1,093.5 IT Services and Hardware 85.9 60.0 Corporate and eliminations 256.7 387.5 Total assets $ 1,457.3 $ 1,541.0

Description of Business and A24

Description of Business and Accounting Policies (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended					9 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Oct. 27, 2017	Jul. 27, 2017	Jul. 09, 2017	Dec. 31, 2016
Number of customers that exceed 10% of total accounts receivable		1				1
Accounts Receivable from customers greater than 10%, percentage		14.00%				14.00%					21.00%
Revenue from customers greater than 10%, percentage					12.00%		12.00%
Common Stock, Par or Stated Value Per Share		$ 0.01				$ 0.01				$ 0.01	$ 0.01
Share Price								$ 19.45
Committed senior secured credit facilities and senior notes									$ 1,150
Available-for-Sale Securities, Shares Sold				2,800,000
Proceeds from Sale of Available-for-sale Securities, Equity				$ 140.7		$ 140.7	$ 181.2
Gain on sale of Investment in CyrusOne		$ 0		(117.7)	$ (33.3)	(117.7)	$ (151.9)
Deferred Tax Assets, Tax Credit Carryforwards, Alternative Minimum Tax		$ 10.2				$ 10.2					$ 14.5
Income Tax Credits and Adjustments			$ 14.5
Defined Benefit Plan, Cost Reclassified, Cost of Services				2
Defined Benefit Plan, Cost Reclassified, SG&A costs				1
Hawaiian Telcom Holdco, Inc. [Member]
Business Combination, Consideration Transferred			380
Common Stock, Par or Stated Value Per Share										$ 0.01
Business combination exchange ratio, Share Consideration		1.6305
Business combination exchange ratio, shares, Mixed Consideration		0.6522
Business combination exchange ratio, cash, Mixed Consideration		$ 18.45
Business combination exchange ratio, Cash Consideration		$ 30.75
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Long-term Debt			$ 310
OnX Holdings LLC [Member]
Business Combination, Consideration Transferred, Excluding Working Capital Adjustment		$ 201
Business Combination, Consideration Transferred	$ 242.3
SunTel Services [Member]
Business Combination, Consideration Transferred				10
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment				0.4
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill				1.2
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Working Capital				4.1
Goodwill, Acquired During Period				$ 4.3

Earnings Per Common Share (Deta

Earnings Per Common Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Numerator:
Net (loss) income	$ (11.2)	$ 18.8	$ 51.3	$ 103.4
Preferred stock dividends	2.6	2.6	7.8	7.8
Net (loss) income applicable to common shareowners - basic and diluted	$ (13.8)	$ 16.2	$ 43.5	$ 95.6
Denominator:
Weighted average common shares outstanding - basic	42.2	42	42.1	42
Stock-based compensation arrangements	0	0.1	0.2	0.1
Weighted average common shares outstanding - diluted	42.2	42.1	42.3	42.1
Basic (loss) earnings per common share	$ (0.33)	$ 0.39	$ 1.03	$ 2.28
Diluted (loss) earnings per common share	$ (0.33)	$ 0.38	$ 1.03	$ 2.27
Stock Compensation Plan [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount		0.2	0.2	0.4
Convertible Preferred Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	0.9	0.9	0.9	0.9

Debt - Schedule of Debt (Detail

Debt - Schedule of Debt (Details) $ in Millions	3 Months Ended			9 Months Ended
	Dec. 31, 2017USD ($)	Sep. 30, 2017USD ($)	Sep. 30, 2016USD ($)	Sep. 30, 2017USD ($)	Sep. 30, 2016USD ($)	Oct. 06, 2017USD ($)	Oct. 02, 2017USD ($)	Dec. 31, 2016USD ($)
Debt Instrument [Line Items]
Current portion of long-term debt		$ 12		$ 12				$ 7.5
Receivables facility amount outstanding		0		0				89.5
Long-term debt, less current portion		1,120.8		1,120.8				1,199.1
Loss on extinguishment of debt, net		0	$ 11.4	0	$ 14.2
Net unamortized premium		8		8				8.5
Unamortized note issuance costs		(10.6)		(10.6)				(11.9)
Total debt		1,132.8		1,132.8				1,206.6
Corporate Credit Agreement		0		0
Tranche B Term Loan due 2020 [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount							$ 315.8
Capital lease Obligations and Other Debt [Member]
Debt Instrument [Line Items]
Current portion of long-term debt		12		12				7.5
Long-term debt, less current portion		$ 72.4		$ 72.4				62
Senior Notes due 2023 [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage		7.25%		7.25%
Debt Instrument, Face Amount		$ 22.3		$ 22.3				22.3
Senior Notes due 2024 [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage		7.00%		7.00%
Debt Instrument, Face Amount		$ 625		$ 625				625
Various Cincinnati Bell Telephone Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount		87.9		87.9				87.9
Tranche B Term Loan due 2024 [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount							$ 600
Proceeds from Issuance of Debt	$ 577
8% Senior Notes due 2025 [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage						8.00%
Debt Instrument, Face Amount						$ 350
Days of Interest Accrual						30
Number of Business Days to Deposit Cash in Escrow Account						5
Debt Instrument, Redemption Price, Percentage						1
Long-term debt, less current portion, before deducting unamortized discount or premium and before deducting unamortized note issuance costs [Member]
Debt Instrument [Line Items]
Long-term debt, less current portion		1,123.4		1,123.4				1,202.5
Long-Term Debt, Less Current Portion [Member] | Tranche B Term Loan due 2020 [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount		$ 315.8		$ 315.8				$ 315.8
Base Rate [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage							2.75%
Base Rate [Member] | Minimum [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage							2.00%
London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage							3.75%
London Interbank Offered Rate (LIBOR) [Member] | Minimum [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage							1.00%
Tranche B Term Loan due 2020 [Member]
Debt Instrument [Line Items]
Loss on extinguishment of debt, net	$ 3

Debt - Credit Facility (Details

Debt - Credit Facility (Details) - USD ($) $ in Millions	3 Months Ended			9 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Oct. 02, 2017	Dec. 31, 2016
Line of Credit Facility [Line Items]
Corporate Credit Agreement		$ 0		$ 0
Line of Credit Facility, Remaining Borrowing Capacity		150		150		$ 200
Line of Credit Facility, Commitment Fee Percentage	0.50%
Loss on extinguishment of debt, net		0	$ 11.4	0	$ 14.2
Receivables facility amount outstanding		0		0			$ 89.5
Letters of Credit Outstanding, Amount		6.3		6.3
Receivables facility remaining borrowing capacity		96.4		96.4
Receivables facility maximum borrowing availability		102.7		$ 102.7
Accounts Receivable Facility, Renewal Term				364
Receivables facility maximum borrowing capacity		$ 120		$ 120
Standby Letters of Credit [Member]
Line of Credit Facility [Line Items]
Line of Credit Facility, Remaining Borrowing Capacity						30
Bridge Loan [Member]
Line of Credit Facility [Line Items]
Line of Credit Facility, Remaining Borrowing Capacity						$ 25
Base Rate [Member]
Line of Credit Facility [Line Items]
Debt Instrument, Interest Rate, Stated Percentage						2.75%
Base Rate [Member] | Minimum [Member]
Line of Credit Facility [Line Items]
Debt Instrument, Interest Rate, Stated Percentage						2.00%
London Interbank Offered Rate (LIBOR) [Member]
Line of Credit Facility [Line Items]
Debt Instrument, Interest Rate, Stated Percentage						3.75%
London Interbank Offered Rate (LIBOR) [Member] | Minimum [Member]
Line of Credit Facility [Line Items]
Debt Instrument, Interest Rate, Stated Percentage						1.00%
Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Loss on extinguishment of debt, net	$ 1

Restructuring and Severance (De

Restructuring and Severance (Details) - USD ($) $ in Millions	3 Months Ended				9 Months Ended
	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve, Current	$ 4.7				$ 4.7		$ 7.4
Restructuring Reserve, Noncurrent	8.7				8.7		$ 3.8
Restructuring Reserve [Roll Forward]
Beginning Balance	23.3	$ 24.1	$ 11.2		11.2
Charges	0	3.6	25.6	$ 0	29.2	$ 0
Utilizations	(9.9)	(4.4)	(12.7)
Ending Balance	13.4	23.3	24.1		13.4
Entertainment and Communications [Member]
Restructuring Reserve [Roll Forward]
Beginning Balance	21	23.3	7.5		7.5
Charges	0	1.3	25.6
Utilizations	(8.1)	(3.6)	(9.8)
Ending Balance	12.9	21	23.3		12.9
IT Services and Hardware [Member]
Restructuring Reserve [Roll Forward]
Beginning Balance	2.2	0.7	3		3
Charges	0	2.3	0
Utilizations	(1.7)	(0.8)	(2.3)
Ending Balance	0.5	2.2	0.7		0.5
Corporate Segment [Member]
Restructuring Reserve [Roll Forward]
Beginning Balance	0.1	0.1	0.7		0.7
Charges	0	0	0
Utilizations	(0.1)	0	(0.6)
Ending Balance	0	0.1	0.1		0
Employee Severance [Member]
Restructuring Reserve [Roll Forward]
Beginning Balance	23.1	23.9	11		11
Charges	0	3.6	25.6
Utilizations	(9.8)	(4.4)	(12.7)
Ending Balance	13.3	23.1	23.9		13.3
Facility Closing [Member]
Restructuring Reserve [Roll Forward]
Beginning Balance	0.2	0.2	0.2		0.2
Charges	0	0	0
Utilizations	(0.1)	0	0
Ending Balance	$ 0.1	$ 0.2	$ 0.2		$ 0.1

Financial Instruments and Fai29

Financial Instruments and Fair Value Measurements (Details) - USD ($) $ in Millions	3 Months Ended
	Sep. 30, 2017	Dec. 31, 2016
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Equity Method Investment, Other than Temporary Impairment	$ 4.7
Long-term debt, including current portion	1,059.1	$ 1,149.2
Estimate of Fair Value, Fair Value Disclosure [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, including current portion	$ 1,041	$ 1,177.9

Pension and Postretirement Pl30

Pension and Postretirement Plans (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Defined Benefit Plan Disclosure [Line Items]
Capitalized portion of defined benefit contribution percent	13.00%	10.00%	13.00%	10.00%
Pension Plans, Defined Benefit [Member]
Defined Benefit Plan Disclosure [Line Items]
Payment for Pension and Other Postretirement Benefits			$ 3.3
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Service cost	$ 0	$ 0	0	$ 0
Interest cost on projected benefit obligation	4.9	4.9	14.6	14.5
Expected return on plan assets	(6.5)	(6.9)	(19.5)	(20.5)
Amortization of:
Prior service benefit	0	0.1	0	0.1
Actuarial loss	4.3	4.7	13.1	14.3
Total amortization	4.3	4.8	13.1	14.4
Pension / postretirement costs (benefits)	2.7	2.8	8.2	8.4
Other Postretirement Benefit Plans, Defined Benefit [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Expected Future Employer Contributions, Current Fiscal Year	9		9
Payment for Pension and Other Postretirement Benefits			5.5
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Service cost	0.1	0.1	0.2	0.2
Interest cost on projected benefit obligation	0.8	0.8	2.4	2.5
Expected return on plan assets	0	0	0	0
Amortization of:
Prior service benefit	(1.2)	(3.7)	(3.4)	(11.1)
Actuarial loss	1.2	1.2	3.5	3.7
Total amortization	0	(2.5)	0.1	(7.4)
Pension / postretirement costs (benefits)	0.9	$ (1.6)	2.7	$ (4.7)
Qualified Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Expected Future Employer Contributions, Current Fiscal Year	2		2
Non-Qualified Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Expected Future Employer Contributions, Current Fiscal Year	$ 2		$ 2

Shareowners' Deficit (Details)

Shareowners' Deficit (Details) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Changes in Accumulated Other Comprehensive Loss by Component [Roll Forward]
Beginning balance				$ (90.3)
Unrealized gain on Investment in CyrusOne, net		$ 0	$ 0	8.3	$ 0
Reclassifications, net				(67.9)
Foreign currency gain		0.1	$ 0	0.1	$ (0.1)
Ending balance		(149.8)		(149.8)
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member]
Changes in Accumulated Other Comprehensive Loss by Component [Roll Forward]
Beginning balance				(157.6)
Unrealized gain on Investment in CyrusOne, net				0
Reclassifications, net	[1]			8.5
Foreign currency gain				0
Ending balance		(149.1)		(149.1)
Available-for-sale Securities [Member]
Changes in Accumulated Other Comprehensive Loss by Component [Roll Forward]
Beginning balance				68.1
Unrealized gain on Investment in CyrusOne, net	[2]			8.3
Reclassifications, net	[3]			(76.4)
Foreign currency gain				0
Ending balance		0		0
Accumulated Translation Adjustment [Member]
Changes in Accumulated Other Comprehensive Loss by Component [Roll Forward]
Beginning balance				(0.8)
Unrealized gain on Investment in CyrusOne, net				0
Reclassifications, net				0
Foreign currency gain				0.1
Ending balance		$ (0.7)		$ (0.7)
[1]	These reclassifications are included in the components of net periodic pension and postretirement benefit costs (see Note 6 for additional details). The components of net periodic pension and postretirement benefit cost are reported within "Cost of services," "Cost of products sold," and "Selling, general and administrative" expenses on the Condensed Consolidated Statements of Operations.
[2]	The unrealized gain on Investment in CyrusOne, net of tax, represents changes in the fair value of CyrusOne shares of common stock owned by the Company during the period, before any subsequent sales of those shares.
[3]	These reclassifications are reported within "Gain on sale of Investment in CyrusOne" on the Condensed Consolidated Statements of Operations.

Business Segment Information (D

Business Segment Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Segment Reporting Information [Line Items]
Revenue	$ 289.2	$ 312.4	$ 861.4	$ 900.5
Operating income	12.7	25.5	28.3	82.5
Expenditures for long-lived assets	43	67.2	148.2	188.8
Depreciation and amortization	47.3	46.5	140.1	134.7
Assets	1,457.3		1,457.3		$ 1,541
Entertainment and Communications [Member]
Segment Reporting Information [Line Items]
Revenue	196.2	193	592.9	575.8
Operating income	25	21.1	49.8	76
Expenditures for long-lived assets	41.4	63.1	138.9	178.7
Depreciation and amortization	43.9	43	129.1	124.8
Assets	1,114.7		1,114.7		1,093.5
IT Services and Hardware [Member]
Segment Reporting Information [Line Items]
Revenue	96.3	122.9	278.5	335.2
Operating income	4.8	7.8	7.9	21.9
Expenditures for long-lived assets	1.6	4.1		9.9
Depreciation and amortization	3.4	3.4	10.9	9.8
Assets	85.9		85.9		60
Corporate Segment [Member]
Segment Reporting Information [Line Items]
Operating income	(17.1)	(3.4)	(29.4)	(15.4)
Expenditures for long-lived assets	0	0	0	0.2
Depreciation and amortization	0	0.1	0.1	0.1
Intersegment Elimination [Member]
Segment Reporting Information [Line Items]
Revenue	(3.3)	(3.5)	(10)	(10.5)
Intersegment Elimination [Member] | Entertainment and Communications [Member]
Segment Reporting Information [Line Items]
Revenue	0.4	0.4	1.3	1
Intersegment Elimination [Member] | IT Services and Hardware [Member]
Segment Reporting Information [Line Items]
Revenue	2.9	3.1	8.7	9.5
Intersegment Elimination [Member] | Corporate Segment [Member]
Segment Reporting Information [Line Items]
Assets	256.7		256.7		$ 387.5
Sales [Member] | Intersegment Elimination [Member]
Segment Reporting Information [Line Items]
Revenue	$ 3.3	$ 3.5	10	$ 10.5
Expenditures for Long-Lived Assets, Including Acquisitions of Businesses [Member]
Segment Reporting Information [Line Items]
Expenditures for long-lived assets			157.8
Expenditures for Long-Lived Assets, Including Acquisitions of Businesses [Member] | IT Services and Hardware [Member]
Segment Reporting Information [Line Items]
Expenditures for long-lived assets			$ 18.9