ATN International (ATNI) 10-Q 9 Aug 16 2016 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2016	Aug. 09, 2016
Document and Entity Information
Entity Registrant Name	ATN International, Inc.
Entity Central Index Key	879,585
Document Type	10-Q
Document Period End Date	Jun. 30, 2016
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		16,151,535
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q2

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Current Assets:
Cash and cash equivalents	$ 352,258	$ 392,045
Restricted cash	1,430	824
Accounts receivable, net of allowances of $12.0 million and $9.3 million, respectively	46,554	39,020
Materials and supplies	8,330	8,220
Prepayments and other current assets	26,339	28,383
Total current assets	434,911	468,492
Fixed Assets:
Property, plant and equipment	931,267	807,247
Less: accumulated depreciation	(444,538)	(433,744)
Net fixed assets	486,729	373,503
Telecommunication licenses, net	43,157	43,468
Goodwill	40,865	45,077
Trade name license, net	2,317	417
Customer relationships, net	8,829	1,081
Restricted cash	5,161	5,477
Other assets	23,415	7,489
Total assets	1,045,384	945,004
Current Liabilities:
Current portion of long-term debt	12,362	6,284
Accounts payable and accrued liabilities	52,741	44,137
Dividends payable	5,168	5,142
Accrued taxes	14,144	9,181
Advance payments and deposits	13,132	9,459
Other current liabilities	10,501	10,152
Total current liabilities	108,048	84,355
Deferred income taxes	36,631	45,406
Other long -term liabilities	44,178	26,944
Long-term debt, excluding current portion	51,096	26,575
Total liabilities	239,953	183,280
Atlantic Tele-Network, Inc. Stockholders' Equity:
Preferred stock, $0.01 par value per share; 10,000,000 shares authorized, none issued and outstanding	0	0
Common stock, $0.01 par value per share; 50,000,000 shares authorized; 16,946,334 and 16,828,576 shares issued, respectively, and 16,151,535 and 16,067,736 shares outstanding respectively	168	168
Treasury stock, at cost; 794,800 and 760,840 shares, respectively	(20,661)	(18,254)
Additional paid-in capital	154,881	154,768
Retained earnings	540,019	547,321
Accumulated other comprehensive loss	(3,741)	(3,704)
Total Atlantic Tele-Network, Inc. stockholders' equity	670,666	680,299
Non-controlling interests	134,765	81,425
Total equity	805,431	761,724
Total liabilities and equity	$ 1,045,384	$ 945,004

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015
CONSOLIDATED BALANCE SHEETS
Accounts receivable, allowances (in dollars)	$ 12	$ 9.3
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	50,000,000	50,000,000
Common stock, shares issued	16,946,334	16,828,576
Common stock, shares outstanding	16,151,535	16,067,736
Treasury stock, shares	794,800	760,840

CONSOLIDATED INCOME STATEMENTS

CONSOLIDATED INCOME STATEMENTS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
REVENUE:
Total revenue	$ 99,991	$ 90,326	$ 189,676	$ 175,670
OPERATING EXPENSES (excluding depreciation and amortization unless otherwise indicated):
Termination and access fees	25,197	19,525	46,110	39,723
Engineering and operations	8,907	8,363	18,745	16,020
Sales and marketing	7,073	4,895	12,227	10,156
Equipment expense	4,063	2,833	7,322	6,661
General and administrative	20,408	14,192	36,828	28,502
Transaction-related charges	10,410	137	14,065	316
Restructuring charges	1,785		1,785
Depreciation and amortization	16,493	14,472	31,047	29,223
Impairment of intangible assets	11,076		11,076
Business Combination, Bargain Purchase, Gain Recognized, Amount	(7,304)		(7,304)
Gain on disposition of long-lived assets	(29)	(2,823)	(29)	(2,823)
Total operating expenses	98,079	61,594	171,872	127,778
Income from operations	1,912	28,732	17,804	47,892
OTHER INCOME (EXPENSE):
Interest income	345	44	692	209
Interest expense, net	(1,061)	(786)	(1,886)	(1,568)
Loss on deconsolidation of subsidiary				(19,937)
Other income, net	(137)	36	(123)	61
Other income (expense), net	(853)	(706)	(1,317)	(21,235)
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES	1,059	28,026	16,487	26,657
Income taxes	2,945	13,008	7,576	12,521
INCOME (LOSS) FROM CONTINUING OPERATIONS	(1,886)	15,018	8,911	14,136
Income from discontinued operations, net of tax				390
NET INCOME (LOSS)	(1,886)	15,018	8,911	14,526
Net income attributable to non-controlling interests, net of tax	(1,200)	(5,568)	(5,877)	(8,345)
NET INCOME (LOSS) ATTRIBUTABLE TO ATLANTIC TELE-NETWORK, INC. STOCKHOLDERS	$ (3,086)	$ 9,450	$ 3,034	$ 6,181
NET INCOME (LOSS) PER WEIGHTED AVERAGE BASIC SHARE ATTRIBUTABLE TO ATLANTIC TELE-NETWORK, INC. STOCKHOLDERS:
Continuing operations (in dollars per share)	$ (0.19)	$ 0.59	$ 0.19	$ 0.36
Discontinued operations				0.02
Total (in dollars per share)	(0.19)	0.59	0.19	0.38
NET INCOME (LOSS) PER WEIGHTED AVERAGE DILUTED SHARE ATTRIBUTABLE TO ATLANTIC TELE-NETWORK, INC. STOCKHOLDERS:
Continuing operations (in dollars per share)	(0.19)	0.59	0.19	0.36
Discontinued operations				0.02
Total (in dollars per share)	$ (0.19)	$ 0.59	$ 0.19	$ 0.38
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING:
Basic (in shares)	16,145	16,038	16,118	15,988
Diluted (in shares)	16,145	16,150	16,221	16,109
DIVIDENDS PER SHARE APPLICABLE TO COMMON STOCK (in dollars per share)	$ 0.32	$ 0.29	$ 0.64	$ 0.58
U.S. Wireless
REVENUE:
Total revenue	$ 57,088	$ 60,326	$ 115,965	$ 117,341
Wireline
REVENUE:
Total revenue	33,976	22,089	56,421	42,681
Equipment and other
REVENUE:
Total revenue	3,365	2,621	6,139	5,069
Renewable energy
REVENUE:
Total revenue	$ 5,562	$ 5,290	$ 11,151	$ 10,579

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
Net income (loss)	$ (1,886)	$ 15,018	$ 8,911	$ 14,526
Other comprehensive income:
Foreign currency translation adjustment	(40)	30	(36)	28
Other comprehensive income (loss), net of tax	(40)	30	(36)	28
Total comprehensive income	(1,926)	15,048	8,875	14,554
Less: Comprehensive income attributable to non-controlling interests	(1,200)	(5,568)	(5,877)	(8,345)
Comprehensive income (loss) attributable to Atlantic Tele-Network, Inc.	$ (3,126)	$ 9,480	$ 2,998	$ 6,209

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Cash flows from operating activities:
Net income (loss)	$ 8,911	$ 14,526
Adjustments to reconcile net income (loss) to net cash flows provided by operating activities:
Depreciation and amortization	31,047	29,223
Provision for doubtful accounts	100	237
Amortization of debt discount and debt issuance costs	236	283
Stock-based compensation	3,633	2,677
Deferred income taxes	(8,775)
Income from discontinued operations, net of tax		(390)
Business Combination, Bargain Purchase, Gain Recognized, Amount	(7,304)
Gain on disposition of long-lived assets	(29)	(2,823)
Impairment of long-lived assets	11,076
Loss on deconsolidation of subsidiary		19,937
Changes in operating assets and liabilities, excluding the effects of acquisitions:
Accounts receivable, net	(2,902)	4,033
Materials and supplies, prepayments, and other current assets	(4,505)	(4,275)
Accounts payable and accrued liabilities, advance payments and deposits and other current liabilities	(4,713)	4,440
Accrued taxes	15,294	18,553
Other assets	(1,854)	(32)
Other liabilities	10,505	(5,847)
Net cash provided by (used in) operating activities of continuing operations	50,720	80,542
Net cash provided by (used in) operating activities of discontinued operations		603
Net cash provided by (used in) operating activities	50,720	81,145
Cash flows from investing activities:
Capital expenditures	(42,727)	(28,031)
Purchase of marketable securities	(2,000)
Acquisition of businesses, net of acquired cash of $8.3 million and $6.6 million	(29,719)	(11,968)
Purchases of spectrum licenses and other intangible assets, including deposits	(10,860)
Acquisition of non-controlling interest in subsidiary	(7,045)
Change in restricted cash	(290)	39,001
Proceeds from disposition of long-lived assets	1,424	5,873
Net cash used in investing activities of continuing operations	(91,217)	4,875
Cash flows from financing activities:
Dividends paid on common stock	(10,311)	(9,267)
Distribution to non-controlling stockholders	(4,302)	(9,160)
Payment of debt issuance costs		(30)
Proceeds from stock option exercises	164	1,686
Principal repayments of term loan	(4,759)	(2,997)
Purchase of common stock	(1,986)	(1,568)
Investments made by minority shareholders in consolidated affiliates	21,904	905
Net cash provided by financing activities of continuing operations	710	(20,431)
Net change in cash and cash equivalents	(39,787)	65,589
Cash and cash equivalents, beginning of period	392,045	326,216
Cash and cash equivalents, end of period	$ 352,258	$ 391,805

ORGANIZATION AND BUSINESS OPERA

ORGANIZATION AND BUSINESS OPERATIONS	6 Months Ended
	Jun. 30, 2016
ORGANIZATION AND BUSINESS OPERATIONS
ORGANIZATION AND BUSINESS OPERATIONS	1. ORGANIZATION AND BUSINESS OPERATIONS The Company is a holding company that, through its operating subsidiaries, (i) provides wireless and wireline telecommunications services in North America, Bermuda and the Caribbean, (ii) develops, owns and operates commercial distributed generation solar power systems in the United States and India, and (iii) owns and operates terrestrial and submarine fiber optic transport systems in the United States and the Caribbean, respectively. The Company offers the following principal services: · Wireless. In the United States, the Company offers wholesale wireless voice and data roaming services to national, regional, local and selected international wireless carriers in rural markets located principally in the Southwest and Midwest United States. The Company also offers wireless voice and data services to retail customers in Bermuda, Guyana, and in other smaller markets in the Caribbean and the United States. · Wireline. The Company’s wireline services include local telephone, data, and cable television services in Bermuda, Guyana, and in other smaller markets in the Caribbean and the United States. The Company is the exclusive licensed provider of domestic wireline local and long-distance telephone services in Guyana and international voice and data communications into and out of Guyana. In addition, the Company offers wholesale long-distance voice services to telecommunications carriers. The Company also offers facilities-based integrated voice and data communications services and wholesale transport services to enterprise and residential customers in New England, primarily Vermont, and in New York State. · Renewable Energy. In the United States, the Company provides distributed generation solar power to corporate, utility and municipal customers in Massachusetts, California and New Jersey. Beginning in April 2016, the Company began developing projects in India to provide distributed generation solar power to corporate and utility customers. The following chart summarizes the operating activities of the Company’s principal subsidiaries, the segments in which the Company reports its revenue and the markets it served as of June 30, 2016: Services Segment Markets Tradenames Wireless U.S. Telecom United States (rural markets) Commnet, Choice International Telecom Aruba, Bermuda, Guyana, U.S. Virgin Islands Mio, CellOne, Choice Wireline U.S. Telecom United States (New England and New York State) Sovernet, ION, Essextel International Telecom Guyana, Bermuda, Cayman Islands, British Virgin Islands, St. Maarten GTT, KeyTech, Bermuda CableVision, Logic Renewable Energy Renewable Energy United States (Massachusetts, California, and New Jersey), India Ahana Renewables, Vibrant Energy The Company actively evaluates potential acquisitions, investment opportunities and other strategic transactions, both domestic and international, that meet its return on investment and other criteria. The Company provides management, technical, financial, regulatory, and marketing services to its subsidiaries and typically receives a management fee equal to a percentage of their respective revenue. Management fees from subsidiaries are eliminated in consolidation. To be consistent with how management allocates resources and assesses the performance of its business operations in 2016, the Company updated its reportable operating segments to consist of the following: i) U.S. Telecom, consisting of the Company’s former U.S. Wireless and U.S. Wireline segments, ii) International Telecom, consisting of the Company’s former Island Wireless and International Integrated Telephony segments, and iii) Renewable Energy, consisting of its former Renewable Energy segment. The prior period segment information has been recast to conform to the current year’s segment presentation.

BASIS OF PRESENTATION

BASIS OF PRESENTATION	6 Months Ended
	Jun. 30, 2016
BASIS OF PRESENTATION
BASIS OF PRESENTATION	2. BASIS OF PRESENTATION The accompanying condensed consolidated financial statements have been prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). The financial information included herein is unaudited; however, the Company believes such information and the disclosures herein are adequate to make the information presented not misleading and reflect all adjustments (consisting only of normal recurring adjustments) that are necessary for a fair statement of the Company’s financial position and results of operations for such periods. The year-end condensed balance sheet data was derived from audited financial statements, but does not include all disclosures required by accounting principles generally accepted in the United States of America. Results of interim periods may not be indicative of results for the full year. These condensed consolidated financial statements and related notes should be read in conjunction with the Company’s 2015 Annual Report on Form 10-K. The consolidated financial statements include the accounts of the Company, its majority-owned subsidiaries and certain entities, which are consolidated in accordance with the provisions of the Financial Accounting Standards Board’s (“FASB”) authoritative guidance on the consolidation of variable interest entities since it is determined that the Company is the primary beneficiary of these entities. Certain reclassifications have been made in the prior period financial statements to conform the Company’s consolidated income statements to how management analyzes its operations in the current period. The changes did not impact operating income. For the three months ended June 30, 2015 the aggregate impact of the changes included an increase to termination and access fees of $0.1 million, an increase to engineering and operations expenses of $0.3 million, a decrease to sales and marketing expenses of $0.2 million and a decrease to general and administrative expenses of $0.2 million. For the six months ended June 30, 2015 the aggregate impact of the changes included an increase to termination and access fees of $0.2 million, an increase to engineering and operations expenses of $0.4 million, a decrease to sales and marketing expenses of $0.3 million and a decrease to general and administrative expenses of $0.3 million. During the six months ended June 30, 2016, the Company’s other assets increased primarily due to a deposit to purchase spectrum licenses of $10.9 million, a $2.0 million purchase of securities in an unaffiliated entity, and $0.9 of loan commitment fees related to the Innovative Transaction. The Company’s effective tax rates for the three months ended June 30, 2016 and 2015 were 278.2 % and 46.4% , respectively. The Company’s effective tax rates for the six months ended June 30, 2016 and 2015 were 46.0% and 47.0% , respectively. The effective tax rate for the three months ended June 30, 2016 was impacted by the following items: (i) certain transactional charges incurred in connection with our recent acquisitions that had no tax benefit, (ii) an impairment charge to write down the value of assets related to our U.S. Wireline business, (iii) the cumulative rate impact resulting from a change to the annual forecasted rate, applied against a lower Q2 2016 pretax book income, and (iv) the mix of income generated among the jurisdictions in which we operate. The effective tax rate for the three months ended June 30, 2015 was impacted by the following items: (i) the $19.9 million loss on deconsolidation within its International Telecom business that had no tax benefit and (ii) the mix of income generated among the jurisdictions in which we operate. The effective tax rate for the six months ended June 30, 2016 was impacted by the following items: (i) certain transactional charges incurred in connection with our recent acquisitions that had no tax benefit, (ii) an impairment charge to write down the value of assets related to our U.S. Wireline business, and (iii) the mix of income generated among the jurisdictions in which we operate. The effective tax rate for the six months ended June 30, 2015 was impacted by the following items: (i) the $19.9 million loss on deconsolidation within its International Telecom business that had no tax benefit and (ii) the mix of income generated among the jurisdictions in which we operate. Recent Accounting Pronouncements In May 2014, the FASB issued ASU 2014-09, “Revenue from Contracts with Customers”, which provides a single, comprehensive revenue recognition model for all contracts with customers. The revenue standard is based on the principle that revenue should be recognized to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The standard may be applied retrospectively to each prior period presented or retrospectively with the cumulative effect recognized as of the date of initial application. On July 9, 2015, the FASB approved the deferral of the new standard's effective date by one year. The new standard is now effective for annual reporting periods beginning after December 15, 2017. The FASB will permit companies to adopt the new standard early, but not before the original effective date of annual reporting periods beginning after December 15, 2016. The Company is currently evaluating the adoption method options and the impact of the new guidance on its consolidated financial statements. In April 2015, the FASB issued ASU 2015-03, “Simplifying the Presentation of Debt Issuance Costs”, which amends the presentation of debt issuance costs on the consolidated balance sheet. Under the new guidance, debt issuance costs are presented as a direct deduction from the carrying amount of the debt liability rather than as an asset. The Company adopted ASU 2015-03 on January 1, 2016 and has determined that its adoption did not have a material impact on its consolidated financial statements and related disclosures. In April 2015, the FASB issued ASU 2015-05, “Customer’s Accounting for Fees Paid in a Cloud Computing Arrangement”, which provides guidance about whether a cloud computing arrangement includes software and how to account for that software license. The new guidance does not change the accounting for a customer’s accounting for service contracts. The standard is effective beginning January 1, 2017, with early adoption permitted, and may be applied prospectively or retrospectively. The Company does not expect ASU 2015-05 to have a material impact on its consolidated financial position, results of operations or cash flows. In September 2015, the FASB issued ASU 2015-16, “Simplifying the Accounting for Measurement-Period Adjustments”, which provides updated guidance related to simplifying the accounting for measurement period adjustments related to business combinations. The amended guidance eliminates the requirement to retrospectively account for adjustments made during the measurement period. The standard was adopted January 1, 2016, and did not have a material impact on its consolidated financial position, results of operations or cash flows. In February 2016, the FASB issued ASU 2016-02, “Leases (Topic 842)”, which provides comprehensive lease accounting guidance. The standard requires entities to recognize lease assets and liabilities on the balance sheet as well as disclosure of key information about leasing arrangements. ASU 2016-02 will become effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018, with early adoption permitted. The Company is currently evaluating the impact of the new guidance on its consolidated financial statements. In March 2016, the FASB issued ASU 2016-09, “ Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting ”. The standard is intended to simplify several areas of accounting for share-based compensation arrangements, including the income tax impact, classification on the statement of cash flows and forfeitures. ASU 2016-09 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2016, and early adoption is permitted. The Company is currently evaluating the impact that the standard will have on its consolidated financial statements.

USE OF ESTIMATES

USE OF ESTIMATES	6 Months Ended
	Jun. 30, 2016
USE OF ESTIMATES
USE OF ESTIMATES	3. USE OF ESTIMATES The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the dates of the financial statements and the reported amounts of revenue and expenses during the reporting periods. The most significant estimates relate to the allowance for doubtful accounts, useful lives of the Company’s fixed and finite-lived intangible assets, allocation of purchase price to assets acquired and liabilities assumed in business combinations, fair value of indefinite-lived intangible assets, goodwill and income taxes. Actual results could differ significantly from those estimates.

ACQUISITIONS

ACQUISITIONS	6 Months Ended
	Jun. 30, 2016
ACQUISITIONS
ACQUISITIONS	4. ACQUISITIONS Completed Acquisitions Vibrant Energy On April 7, 2016, the Company completed its acquisition of a solar power development portfolio in India from Armstrong Energy Global Limited (“Armstrong”), a well-known developer, builder, and owner of solar farms (the “Vibrant Energy Acquisition”). The business operates under the name Vibrant Energy. The Company also retained several Armstrong employees in the UK and India who are employed by the Company to oversee the development, construction and operation of the India solar projects. The projects to be developed initially are located in the states of Andhra Pradesh and Telangana and are based on a commercial and industrial business model, similar to the Company’s existing renewable energy operations in the United States. As of April 7, 2016, the Company began consolidating the results of Vibrant Energy in its financial statements within its Renewable Energy segment. The Vibrant Energy Acquisition was accounted for as a business combination in accordance with ASC 805, Business Combinations (“ASC 805”). The total purchase consideration of $6.2 million cash was allocated to the assets acquired and liabilities assumed at their estimated fair values as of the date of the acquisition. The table below represents the preliminary allocation of the consideration transferred to the net assets of Vibrant Energy based on their acquisition date fair values (in thousands): Consideration Transferred $ Preliminary Purchase price allocation: Cash $ Prepayments and other assets Property, plant and equipment Accounts payable and accrued liabilities Goodwill Net assets acquired The consideration transferred includes $3.5 million paid and $2.7 million to be paid, which relates to the passage of time and achievement of initial production milestones which are considered probable. The acquired property, plant and equipment is comprise of solar equipment and the accounts payable and accrued liabilities consists mainly of amounts payable for certain asset purchases. The fair value of the property, plant, and equipment was based on recent acquisition costs for the assets, given their recent purchase dates from third parties. The goodwill in the transaction relates to the assembled workforce of the business acquired. For the six months ended June 30, 2016 the Vibrant Energy Acquisition accounted for $0.1 million of the Company’s revenue. The Company incurred $10.2 million of transaction related charges pertaining to legal, accounting and consulting services associated with the transaction, of which $9.0 million were incurred during the six months ended June 30, 2016. The pro forma financial information assuming the acquisition had occurred as of the beginning of the calendar year prior to the year of acquisition, as well as the revenues and earnings generated during the current year, were not material for disclosure purposes. KeyTech Limited On May 3, 2016, the Company completed its acquisition of a controlling interest in KeyTech Limited (“KeyTech”), a publicly held Bermuda company listed on the Bermuda Stock Exchange (“BSX”) that provides broadband and cable television services and other telecommunications services to residential and enterprise customers under the “Logic” name in Bermuda and the Cayman Islands (the “KeyTech Transaction”). KeyTech also owned a minority interest of approximately 43% in the Company’s consolidated subsidiary, Bermuda Digital Communications Ltd. (“BDC”), which provides wireless services in Bermuda under the “CellOne” name. As part of the transaction, the Company contributed its ownership interest of approximately 43 % in BDC and $41.6 million in cash in exchange for a 51% ownership interest in KeyTech. As part of the transaction, BDC was merged with and into a company within the KeyTech group and the approximate 15% interest in BDC held, in the aggregate, by BDC’s minority shareholders was converted into the right to receive common shares in KeyTech. Following the transaction, BDC is now wholly owned by KeyTech, and KeyTech continues to be listed on the BSX. A portion of the cash proceeds that KeyTech received upon closing was used to fund a one-time special dividend to KeyTech's pre-transaction shareholders and to retire KeyTech’ s subordinated debt. On May 3, 2016, the Company began consolidating the results of KeyTech within its financial statements in its International Telecom segment. The KeyTech Transaction was accounted for as a business combination of a controlling interest in KeyTech in accordance with ASC 805 and the acquisition of an incremental ownership interest in BDC in accordance with ASC 810, Consolidation . The total purchase consideration of $41.6 million of cash was allocated to the assets acquired and liabilities assumed at their estimated fair values as of the date of the acquisition. The table below represents the preliminary allocation of the consideration transferred to the net assets of KeyTech and incremental interest acquired in BDC based on their acquisition date fair values (in thousands): Consideration Transferred Cash consideration - KeyTech $ Cash consideration - BDC Total consideration transferred Non-controlling interests - KeyTech Total value to allocate $ Value to allocate KeyTech Value to allocate - BDC Preliminary Purchase price allocation KeyTech: Cash Accounts receivable Other current assets Property, plant and equipment Identifiable intangible assets Other long term assets Accounts payable and accrued liabilities Advance payments and deposits Current debt Long term debt Net assets acquired Gain on KeyTech bargain purchase $ Purchase price allocation BDC: Carrying value of BDC non-controlling interest acquired Excess of purchase price paid over carrying value of non-controlling interest acquired $ The acquired property, plant and equipment is comprised of telecommunication equipment located in Bermuda and the Cayman Islands. The property, plant and equipment was valued using the income and cost approaches. Cash flows were discounted at approximately 15% rate to determine fair value under the income approach. The property, plant and equipment have useful lives ranging from 3 to 18 years and the customer relationships acquired have average useful lives of 9 to 12 years. The fair value of the non-controlling interest was determined using the income approach and a discount rate of approximately 15% . The acquired receivables consist of trade receivables incurred in the ordinary course of business. The Company currently expects to collect the full amount of the receivables. The purchase price and resulting bargain purchase gain are the result of the market conditions and competitive environment in which KeyTech operates along with the Company's strategic position and resources in those same markets. Both companies realized that their combined resources would accelerate the transformation of both companies to better serve customers in these markets. The bargain purchase gain is included in operating income in the accompanying income statement for the three and six months ended June 30, 2016. The Company’s statement of operations for the six months ended June 30, 2016 includes $14.0 million of revenue and $ 3.0 million of income before taxes attributable to the KeyTech Transaction. The Company incurred $4.1 million of transaction related charges pertaining to legal, accounting and consulting services associated with the transaction, of which $3.2 million were incurred during the six months ended June 30, 2016. The following table reflects unaudited pro forma operating results of the Company for the three and six month periods ended June 30, 2016 and June 30, 2015 assuming that the KeyTech Transaction occurred at the beginning of each period presented. The pro forma amounts adjust KeyTech’s results to reflect the depreciation and amortization that would have been recorded assuming the fair value adjustments to property, plant and equipment and intangible assets had been applied from January 1, 2015. Also, KeyTech’s results are adjusted to reflect the retirement of $24.7 million of debt as of January 1, 2015. ATN’s results were adjusted to reflect ATN’s incremental ownership in BDC. Amounts are presented in thousands, except per share data: Three months ended Three months ended Six months ended Six months ended June 30, 2016 June 30, 2015 June 30, 2016 June 30, 2015 As As As As As As As As Reported Adjusted Reported Adjusted Reported Adjusted Reported Adjusted Revenue $ $ $ $ $ $ $ $ Net Income attributable to ATN International, Inc. Stockholders Earnings per share: Basic Diluted Acquisition Completed Subsequent to Quarter End Innovative On July 1, 2016, the Company completed its acquisition of all of the membership interests of Caribbean Asset Holdings LLC, the holding company for the Innovative group of companies operating cable television, Internet, wireless and landline services in the U.S. Virgin Islands, British Virgin Islands and St. Maarten (“Innovative”), from the National Rural Utilities Cooperative Finance Corporation (“CFC”). The Company acquired the Innovative operations for a purchase price of approximately $145 million, subject to certain purchase price adjustments (the “Innovative Transaction”). In connection with the transaction, the Company financed $60 million of the purchase price with a loan from an affiliate of CFC, the Rural Telephone Finance Cooperative (“RTFC”) on the terms and conditions of a Loan Agreement by and among RTFC, CAH and ATN VI Holdings, LLC, the parent entity of CAH and a wholly-owned subsidiary of the Company. The Company funded the remaining approximately $85.0 million of the purchase price in cash. Following the purchase, the Company’s current operations in the U.S. Virgin Islands under the “Choice” name will be combined with Innovative to deliver residential and business subscribers a full range of telecommunications and media services. Beginning July 1, 2016, the results of the Innovative Transaction will be included in the Company’s International Telecom segment.

LOSS ON DECONSOLIDATION OF SUBS

LOSS ON DECONSOLIDATION OF SUBSIDIARY	6 Months Ended
	Jun. 30, 2016
LOSS ON DECONSOLIDATION OF SUBSIDIARY
LOSS ON DECONSOLIDATION OF SUBSIDIARY	5. LOSS ON DECONSOLIDATION OF SUBSIDIARY During March 2015, the Company sold certain assets and liabilities of its Turks and Caicos business in its International Telecom segment. As a result, the Company recorded a loss of approximately $19.9 million arising from the deconsolidation of non-controlling interests of $20.0 million and a gain of $0.1 million arising from an excess of sales proceeds over the carrying value of net assets disposed of. The net loss on disposition is included within other income (expense) and does not relate to a strategic shift in the Company’s operations. As a result, the subsidiary’s historical results and financial position are presented with continuing operations.

IMPAIRMENT OF LONG LIVED ASSETS

IMPAIRMENT OF LONG LIVED ASSETS AND GOODWILL	6 Months Ended
	Jun. 30, 2016
IMPAIRMENT OF LONG LIVED ASSETS AND GOODWILL
IMPAIRMENT OF GOODWILL AND LONG LIVED ASSETS	6. IMPAIRMENT OF LONG LIVED ASSETS AND GOODWILL During June 2016, as a result of recent industry consolidation activities and a review of strategic alternatives for our U.S. Wireline business in the Northeast, the Company identified factors indicating the carrying amount of certain assets may not be recoverable. More specifically, the factors included the competitive environment, recent industry consolidation, and the Company’s view of future opportunities in the market which began to evolve in the second quarter of 2016. As a result of these factors, o n August 4, 2016, the Company entered into a stock purchase agreement to sell a portion of its U.S. Wireline business. The transaction is subject to certain regulatory approvals. As a result of this transaction and the recent developments in the market, the Company determined that carrying value exceeded the fair value of certain assets. Therefore, the Company recorded an impairment charge of $11.1 million, including $7.5 million related to goodwill, to reduce the carrying value of these assets to the estimated fair value. The impairment charge is included in income from operations for the three months ended June 30, 2016.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	6 Months Ended
	Jun. 30, 2016
FAIR VALUE MEASUREMENTS
FAIR VALUE MEASUREMENTS	7. FAIR VALUE MEASUREMENTS In accordance with the provisions of fair value accounting, a fair value measurement assumes that a transaction to sell an asset or transfer a liability occurs in the principal market for the asset or liability or, in the absence of a principal market, the most advantageous market for the asset or liability and defines fair value based upon an exit price model. The fair value measurement guidance establishes a fair value hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The guidance describes three levels of inputs that may be used to measure fair value: Level 1 Quoted prices in active markets for identical assets or liabilities as of the reporting date. Active markets are those in which transactions for the asset and liability occur in sufficient frequency and volume to provide pricing information on an ongoing basis. Level 1 assets and liabilities include money market funds, debt and equity securities and derivative contracts that are traded in an active exchange market. Level 2 Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 2 assets and liabilities include debt securities with quoted prices that are traded less frequently than exchange-traded instruments and derivative contracts whose value is determined using a pricing model with inputs that are observable in the market or can be derived principally from or corroborated by observable market data. This category generally includes corporate obligations and non-exchange traded derivative contracts. Level 3 Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. Level 3 assets and liabilities include financial instruments and intangible assets that have been impaired whose value is determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which the determination of fair value requires significant management judgment or estimation. Assets and liabilities of the Company measured at fair value on a recurring basis as of June 30, 2016 and December 31, 2015 are summarized as follows (in thousands): June 30, 2016 Significant Other Quoted Prices in Observable Active Markets Inputs Description (Level 1) (Level 2) Total Certificates of deposit $ — $ $ Money market funds $ $ — $ Total assets measured at fair value $ $ $ December 31, 2015 Significant Other Quoted Prices in Observable Active Markets Inputs Description (Level 1) (Level 2) Total Certificates of deposit $ — $ $ Money market funds $ $ — $ Total assets measured at fair value $ $ $ Certificate of Deposit As of June 30, 2016 and December 31, 2015, this asset class consisted of a time deposit at a financial institution denominated in U.S. dollars. The asset class is classified within Level 2 of the fair value hierarchy because the fair value was based on observable market data. Money Market Funds As of June 30, 2016 and December 31, 2015, this asset class consisted of a money market portfolio that comprises Federal government and U.S. Treasury securities. The asset class is classified within Level 1 of the fair value hierarchy because its underlying investments are valued using quoted market prices in active markets for identical assets. Other Fair Value Disclosures The carrying amounts of cash and cash equivalents, accounts receivable, and accounts payable and accrued expenses approximate their fair values because of the relatively short-term maturities of these financial instruments. The fair value of marketable securities is estimated using Level 2 inputs. At June 30, 2016, the fair value of marketable securities was equal to its carrying amount of $ 2.0 million and is included in other assets on the condensed consolidated balance sheet. The fair value of long-term debt is estimated using Level 2 inputs. At June 30, 2016, the fair value, in thousands, of long-term debt, including the current portion, was equal to its carrying amount of $63 .5 million . At December 31, 2015, the fair value of the long-term debt, including the current portion, was equal to its carrying amount of $32 .9 million .

LONG-TERM DEBT

LONG-TERM DEBT	6 Months Ended
	Jun. 30, 2016
LONG-TERM DEBT
LONG-TERM DEBT	8. LONG-TERM DEBT On December 19, 2014, the Company amended and restated its then existing credit facility with CoBank, ACB and a syndicate of other lenders to provide for a $225 million revolving credit facility (the “Credit Facility”) that includes (i) up to $10 million under the Credit Facility for standby or trade letters of credit, (ii) up to $25 million under the Credit Facility for letters of credit that are necessary or desirable to qualify for disbursements from the FCC’s mobility fund and (iii) up to $10 million under a swingline sub-facility. Amounts the Company may borrow under the Credit Facility bear interest at a rate equal to, at its option, either (i) the London Interbank Offered Rate ( LIBOR ) plus an applicable margin ranging between 1.50% to 1.75% or (ii) a base rate plus an applicable margin ranging from 0.50% to 0.75% . Swingline loans will bear interest at the base rate plus the applicable margin for base rate loans. The base rate is equal to the higher of (i) 1.00% plus the higher of (x) the one-week LIBOR and (y) the one-month LIBOR ; (ii) the federal funds effective rate (as defined in the Credit Facility ) plus 0.50% per annum; and (iii) the prime rate (as defined in the Credit Facility ). The applicable margin is determined based on the ratio (as further defined in the Credit Facility) of the Company’s indebtedness to EBITDA. Under the terms of the Credit Facility, the Company must also pay a fee ranging from 0.175% to 0.250% of the average daily unused portion of the Credit Facility over each calendar quarter. On January 11, 2016, the Company amended the Credit Facility (the “Amendment”) to provide for lender consent to, among other actions, (i) the contribution by the Company of all of its equity interests in ATN Bermuda Holdings, Ltd. to ATN Overseas Holdings, Ltd. in connection with the KeyTech Transaction, and subject to the closing of the KeyTech Transaction, a one -time, non-pro rata cash distribution by KeyTech in an aggregate amount not to exceed $13.0 million to certain of KeyTech’s shareholders; and (ii) the incurrence by certain subsidiaries of the Company of secured debt in an aggregate principal amount not to exceed $60.0 million in connection with the Company’s option to finance a portion of the Innovative Transaction. The Amendment increases the amount the Company is permitted to invest in “unrestricted” subsidiaries of the Company, which are not subject to the covenants of the Credit Facility , from $275.0 million to $400.0 million (as such increased amount shall be reduced from time to time by the aggregate amount of certain dividend payments to the Company’s stockholders). The Amendment also provides for the incurrence by the Company of incremental term loan facilities, when combined with increases to revolving loan commitments under the Credit Facility , in an aggregate amount not to exceed $200.0 million, which facilities shall be subject to certain conditions, including pro forma compliance with the total net leverage ratio financial covenant under the Credit Facility . The Credit Facility contains customary representations, warranties and covenants, including a financial covenant that imposes a maximum ratio of indebtedness to EBITDA as well as covenants by the Company limiting additional indebtedness, liens, guaranties, mergers and consolidations, substantial asset sales, investments and loans, sale and leasebacks, transactions with affiliates and fundamental changes. In addition, the Credit Facility contains a financial covenant by us that imposes a maximum ratio of indebtedness to EBITDA. As of June 30, 2016, the Company was in compliance with all of the financial covenants of the Credit Facility. As of June 30, 2016, the Company had no borrowings under the Credit Facility and approximately $10.6 million of outstanding letters of credit. Ahana Debt In connection with the Ahana Acquisition on December 24, 2014, the Company assumed $38.9 million in long-term debt (the “Ahana Debt”). The Ahana Debt includes multiple loan agreements with banks that bear interest at rates between 4.5% and 6.0 %, mature at various times between 2018 and 2023 and are secured by certain solar facilities. Repayment of the Ahana Debt with the banks is made on a monthly basis until maturity. The Ahana Debt also includes a loan from Public Service Electric & Gas (PSE&G). The note payable to PSE&G bears interest at 11.3% , matures in 2027, and is secured by certain solar facilities. Repayment of the Ahana Debt with PSE&G can be made in either cash or solar renewable energy credits (“SRECs”) , at the Company’s discretion, with the value of the SRECs being fixed at the time of the loan’s closing. Historically, the Company has made all repayments of the note payable to PSE&G using SRECs. As of June 30, 2016, $29.7 million of the Ahana Debt remained outstanding. KeyTech Debt In connection with the KeyTech Transaction on May 3, 2016, the Company assumed $35.4 million in debt (the “KeyTech Debt”). The KeyTech Debt matures in 2021, bears interest of the three-month LIBOR plus a margin of 3.25% , and repayment is made quarterly until maturity. The debt is secured by the property and assets of certain KeyTech subsidiaries. As of June 30, 2016, $33.8 million of the KeyTech Debt remained outstanding.

GOVERNMENT GRANTS

GOVERNMENT GRANTS	6 Months Ended
	Jun. 30, 2016
GOVERNMENT GRANTS
GOVERNMENT GRANTS	9. GOVERNMENT GRANTS The Company has received funding from the U.S. Government and its agencies under Stimulus and Universal Services Fund programs. These are generally designed to fund telecommunications infrastructure expansion into rural or underserved areas of the United States. The fund programs are evaluated to determine if they represent funding related to capital expenditures (capital grants) or operating activities (income grants). Phase I Mobility Fund Grants As part of the Federal Communications Commission’s (“FCC”) reform of its Universal Service Fund (“USF”) program, which previously provided support to carriers seeking to offer telecommunications services in high-cost areas and to low-income households, the FCC created two new funds, including the Phase I Mobility Fund (“Mobility Fund”), a one-time award meant to support wireless coverage in underserved geographic areas in the United States. In August 2013 and October 2014, the Company received FCC final approvals for $21.7 million and $2.4 million, respectively, of Mobility Fund support to its wholesale wireless business (the “Mobility Funds”), to expand voice and broadband networks in certain geographic areas in order to offer either 3G or 4G coverage. As part of the receipt of the Mobility Funds, the Company committed to comply with certain additional FCC construction and other requirements. A portion of these funds will be used to offset network capital costs and a portion is used to offset the costs of supporting the networks for a period of five years from the award date. In connection with the Company’s application for the Mobility Funds, the Company has issued approximately $10.6 million in letters of credit to the Universal Service Administrative Company (“USAC”) to secure these obligations. If the Company fails to comply with any of the terms and conditions upon which the Mobility Funds were granted, or if the Company loses eligibility for the Mobility Funds, USAC will be entitled to draw the entire amount of the letter of credit applicable to the affected project plus penalties and may disqualify the Company from the receipt of additional Mobility Fund support. The Mobility Funds projects and their results are included within the Company’s U.S. Telecom segment. As of June 30, 2016, the Company had received approximately $8.1 million in Mobility Funds. Of these funds, $ 2.2 million was recorded as an offset to operating expenses, $5.8 million was recorded as an offset to the cost of the property, plant, and equipment associated with these projects and, consequentially, a reduction of future depreciation expense and the remaining $0.1 million of future operating costs is recorded within current liabilities in the Company’s consolidated balance sheet as of June 30, 2016. The balance sheet presentation is based on the timing of the expected usage of the funds which will reduce future operations expenses.

EQUITY

EQUITY	6 Months Ended
	Jun. 30, 2016
EQUITY
EQUITY	10. EQUITY Stockholders’ equity was as follows (in thousands): Six months ended June 30, 2016 2015 ATN Non-Controlling ATN Non-Controlling Total International, Inc. Interests Total Equity International, Inc. Interests Equity Equity, beginning of period $ $ $ $ $ $ Stock-based compensation — — Comprehensive income: Net income Translation adjustment — — Total comprehensive income Issuance of common stock upon exercise of stock options — — Dividends declared on common stock — — Distributions to non-controlling interests — — Investments made by non-controlling interests — 21,904 (1) — Acquisition of KeyTech — — — — Sale of non-controlling interests — — — — Purchase of non-controlling interests — — — Purchase of treasury stock — — Equity, end of period $ $ $ $ $ $ (1) During the six months ended June 30, 2016, the holder of a non-controlling interest in one of ATN’s U.S. Telecom subsidiaries contributed $21.7 million of cash to the subsidiary. ATN maintained a controlling interest in the subsidiary both before and after the contribution.

NET INCOME PER SHARE

NET INCOME PER SHARE	6 Months Ended
	Jun. 30, 2016
NET INCOME PER SHARE
NET INCOME PER SHARE	11. NET INCOME (LOSS) PER SHARE For the three and six months ended June 30, 2016 and 2015, outstanding stock options were the only potentially dilutive securities. The reconciliation from basic to diluted weighted average shares of common stock outstanding is as follows (in thousands): Three months ended June 30, Six months ended June 30, 2016 2015 2016 2015 Basic weighted-average shares of common stock outstanding Stock options — Diluted weighted-average shares of common stock outstanding The above calculation does not include approximately 105,000 shares and 5,000 shares related to certain stock options because the effects of such options were anti-dilutive during the three and six months ended June 30, 2016, respectively. There were no anti-dilutive options for the three months ended June 30, 2015 or the six months ended June 30, 2015.

SEGMENT REPORTING

SEGMENT REPORTING	6 Months Ended
	Jun. 30, 2016
SEGMENT REPORTING
SEGMENT REPORTING	12. SEGMENT REPORTING For the three and six months ended June 30, 2015, the Company had five reportable segments for separate disclosure in accordance with the FASB’s authoritative guidance on disclosures about segments of an enterprise. Those five segments were: i) U.S. Wireless, which generated all of its revenues in and had all of its assets located in the United States, ii) International Integrated Telephony, which generated all of its revenues in and had all of its assets located in Guyana, iii) Island Wireless, which generated a majority of its revenues in, and had a majority of its assets located in, Bermuda and which also generated revenues in and had assets located in the U.S. Virgin Islands, Aruba and Turks and Caicos (through March 23, 2015), iv) U.S. Wireline, which generated all of its revenues in and had all of its assets located in the United States, and v) Renewable Energy, which generated all of its revenues in and had all of its assets located in the United States. The operating segments were managed separately because each offers different services and serves different markets. To be consistent with how management allocates resources and assesses the performance of its business operations in 2016, the Company updated its reportable operating segments to consist of the following: i) U.S. Telecom, consisting of the Company’s former U.S. Wireless and U.S. Wireline segments, ii) International Telecom, consisting of the Company’s former Island Wireless and International Integrated Telephony segments and the results of its KeyTech Transaction, and iii) Renewable Energy, consisting of the Company’s former Renewable Energy segment and the results of its Vibrant Energy Acquisition. The prior period segment information has been recast to conform to the current year’s segment presentation. The following tables provide information for each operating segment (in thousands): For the Three Months Ended June 30, 2016 U.S. International Renewable Reconciling Telecom Telecom Energy Items (1) Consolidated Revenue Wireless $ $ $ — $ — $ Wireline — — Equipment and Other — Renewable Energy — — — Total Revenue — Depreciation and amortization Non-cash stock-based compensation — — Operating income (loss) For the Three Months Ended June 30, 2015 U.S. International Renewable Reconciling Telecom Telecom Energy Items (1) Consolidated Revenue Wireless $ $ $ — $ — $ Wireline — — Equipment and Other — — Renewable Energy — — — Total Revenue — Depreciation and amortization Non-cash stock-based compensation — — Operating income (loss) For the Six Months Ended June 30, 2016 U.S. International Renewable Reconciling Telecom Telecom Energy Items (1) Consolidated Revenue Wireless $ $ $ — $ — $ Wireline — — Equipment and Other — Renewable Energy — — — Total Revenue — Depreciation and amortization Non-cash stock-based compensation — — Operating income (loss) For the Six Months Ended June 30, 2015 U.S. International Renewable Reconciling Telecom Telecom Energy Items (1) Consolidated Revenue Wireless $ $ $ — $ — $ Wireline — — Equipment and Other — — Renewable Energy — — — Total Revenue — Depreciation and amortization Non-cash stock-based compensation — — Operating income (loss) U.S. International Renewable Reconciling Telecom Telecom Energy Items (1) Consolidated June 30, 2016 Net fixed assets $ $ $ $ $ Goodwill — Total assets December 31, 2015 Net fixed assets $ $ $ $ $ Goodwill — — Total assets Capital Expenditures U.S. International Renewable Reconciling Six months ended June 30, Telecom Telecom Energy Items (1) Consolidated 2016 $ $ $ $ $ 2015 (1) Reconciling items refer to corporate overhead matters and consolidating adjustments.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Jun. 30, 2016
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES	13. COMMITMENTS AND CONTINGENCIES Regulatory and Litigation Matters The Company and its subsidiaries are subject to certain regulatory and legal proceedings and other claims arising in the ordinary course of business, some of which involve claims for damages and taxes that are substantial in amount. The Company believes that, except for the items discussed below, for which the Company is currently unable to predict the final outcome, the disposition of proceedings currently pending will not have a material adverse effect on the Company’s financial position or results of operations. As of June 30, 2016 the Company had approximately $10.6 million in letters of credit payable to USAC outstanding to cover its Mobility Fund obligations and there were no drawdowns against these letters of credit. The letters of credit accrue a fee at a rate of 1.75% per annum on the outstanding amounts. If the Company fails to comply with certain terms and conditions upon which the Mobility Funds are to be granted, or if it loses eligibility for Mobility Fund support, USAC will be entitled to draw the entire amount of the letter of credit applicable to the affected project including penalties. The results of the Company’s Mobility Fund projects, once initiated, will be included in the Company’s “U.S. Telecom” segment. Currently, the Company’s Guyana subsidiary, GTT, holds a license to provide domestic fixed services and international voice and data services in Guyana on an exclusive basis until December 2030. Since 2001, the Government of Guyana has stated its intention to introduce additional competition into Guyana’s telecommunications sector. In connection therewith, the Company and GTT have met on several occasions with officials of the Government of Guyana to discuss potential modifications of GTT’s exclusivity and other rights under the existing agreement and license. On July 18, 2016, the Guyana Parliament passed telecommunications legislation that introduces material changes to many features of Guyana’s existing telecommunications regulatory regime with the intention of creating a more competitive market. In contrast to prior legislative proposals, the legislation that passed does not include a provision that permits other telecommunications carriers to receive licenses automatically upon signing of the legislation, nor does it have the effect of terminating the Company’s exclusive license. Instead the legislation as passed requires the Minister of Telecommunications to conduct further proceedings and issue implementing orders to enact the various provisions of the legislation. The Company cannot predict when the legislation will be signed into law or the manner in which it will be implemented by the Minister of Telecommunications. The Company understands that the Government of Guyana intends to discuss with the Company modifications of the Company’s exclusivity rights and other rights under its existing agreement and license. However, there can be no assurance that the Government of Guyana will convene those discussions before the Government issues new licenses contemplated by the legislation or at all, or that they will satisfactorily address contractual exclusivity rights. Although the Company believes that it would be entitled to damages or other compensation for any involuntary termination of its contractual exclusivity rights, it cannot guarantee that the Company would prevail in a proceeding to enforce its rights or that its actions would effectively halt any unilateral action by the Government. Historically, GTT has been subject to other litigation proceedings and disputes in Guyana that, while not conclusively resolved, to the Company’s knowledge have not been the subject of discussions or other significant activity in the last five years. It is possible, but not likely, that these disputes, as discussed below, may be revived. The Company believes that none of these additional proceedings would, in the event of an adverse outcome, have a material impact on the Company’s consolidated financial position, results of operation or liquidity. In a letter dated September 8, 2006, the National Frequency Management Unit (“NFMU”) agreed that total spectrum fees in Guyana should not increase for the years 2006 and 2007. However, that letter implied that spectrum fees in 2008 and onward may be increased beyond the amount GTT agreed to with the Government. GTT has objected to the NFMU’s proposed action and reiterated its position that an increase in fees prior to development of an acceptable methodology would violate the Government’s prior agreement. In 2011, GTT paid the NFMU $2.6 million representing payments in full for 2008, 2009 and 2010. However, by letter dated November 23, 2011, the NFMU stated that it did not concur with GTT’s inference that the amount was payment in full for the specified years as it was their continued opinion that the final calculation for GSM spectrum fees was not agreed upon and was still an outstanding issue. By further letter dated November 24, 2011, the NFMU further rejected a proposal that was previously submitted jointly by GTT and Digicel which outlined a recommended methodology for the calculation of these fees. The NFMU stated that it would prepare its own recommendation which it would send to the Minister of Telecommunications for decision of the matter. GTT paid additional spectrum fees in 2012 according to the methodology used for its 2011 payments, and have reserved amounts payable for 2013 and 2014 according to this methodology. There have been no further discussions on this subject and GTT has not had the opportunity to review any recommendation made to the Minister. In November 2007, Caribbean Telecommunications Limited (“CTL”) filed a complaint in the U.S. District Court for the District of New Jersey against GTT and ATN claiming breach of an interconnection agreement for domestic cellular services in Guyana and related claims. CTL asserted over $200 million in damages. GTT and ATN moved to dismiss the complaint on procedural and jurisdictional grounds. On January 26, 2009, the court granted the motions to dismiss the complaint on the grounds asserted. On November 7, 2009 and again on April 4, 2013, CTL filed a similar claim against GTT and the Public Utility Commission in the High Court of Guyana. The matter remained idle from the April 2013 filing until December 2015 when CTL filed a “Statement of Claim” reiterating the claims previously made in its prior filings. On April 7, 2016 the High Court of Guyana struck and dismissed CTL’s action as abandoned pursuant to the Court’s rules of civil procedure and the claim is no longer pending. On May 8, 2009, Digicel filed a lawsuit in Guyana challenging the legality of GTT’s exclusive license rights under Guyana’s constitution. Digicel initially filed this lawsuit against the Attorney General of Guyana in the High Court. On May 13, 2009, GTT petitioned to intervene in the suit in order to oppose Digicel’s claims and that petition was granted on May 18, 2009. GTT filed an answer to the charge on June 22, 2009 and the case is pending. The Company believes that any legal challenge to GTT’s exclusive license rights granted in 1990 is without merit and the Company intends to vigorously defend against such a legal challenge. GTT has filed several lawsuits in the High Court of Guyana asserting that, despite its denials, Digicel is engaged in international bypass in violation of GTT’s exclusive license rights, the interconnection agreement between the parties, and the laws of Guyana. GTT is seeking, among other things, injunctive relief to stop the illegal bypass activity, actual damages in excess of US$9 million and punitive damages of approximately US$5 million. Digicel filed counterclaims alleging that GTT has violated the terms of the interconnection agreement and Guyana laws. These suits, filed in 2010 and 2012, have yet to proceed to trial and it remains uncertain as to when a trial date may be set. GTT intends to vigorously prosecute these matters . GTT is also involved in several legal claims regarding its tax filings with the Guyana Revenue Authority dating back to 1991 regarding the deductibility of intercompany advisory fees as well as other tax assessments. Should GTT be held liable for any of the disputed tax assessments, totaling $32.4 million, the Company believes that the Government of Guyana would then be obligated to reimburse GTT for any amounts necessary to ensure that GTT’s return on investment was no less than 15% per annum for the relevant periods. The Company believes that some adverse outcome is probable and has accordingly accrued $5.0 million as of June 30, 2016 for these matters. The term of the Company’s telecommunications license to operate in Aruba expired on January 15, 2014. The government of Aruba informed the Company earlier in January 2014 that a renewed license would be issued only upon payment by the Company of a fee in the amount of Afl 7.2 million (or approximately US$4 million). The Company is continuing to operate as it is actively contesting the assessment of such fee.

SUBSEQUENT EVENT

SUBSEQUENT EVENT	6 Months Ended
	Jun. 30, 2016
SUBSEQUENT EVENT
SUBSEQUENT EVENT	14. SUBSEQUENT EVENTS See Note 4 for a discussion of the Innovative Transaction. On August 8, 2016, the Company announced that it had entered into an agreement to sell its U.S. Wireline business in the Northeast, including its integrated voice and data operations in New England, and its wholesale transport operations in New York . Following the completion of the sale, the Company will retain its wholesale long-distance business in its “U.S. Telecom” segment. The transaction is expected to close early 2017, following the satisfaction of customary regulatory approvals.

ORGANIZATION AND BUSINESS OPE21

ORGANIZATION AND BUSINESS OPERATIONS (Tables)	6 Months Ended
	Jun. 30, 2016
ORGANIZATION AND BUSINESS OPERATIONS
Schedule of the operating activities of the Company's principal subsidiaries, the segments in which the Company reports its revenue and markets served	Services Segment Markets Tradenames Wireless U.S. Telecom United States (rural markets) Commnet, Choice International Telecom Aruba, Bermuda, Guyana, U.S. Virgin Islands Mio, CellOne, Choice Wireline U.S. Telecom United States (New England and New York State) Sovernet, ION, Essextel International Telecom Guyana, Bermuda, Cayman Islands, British Virgin Islands, St. Maarten GTT, KeyTech, Bermuda CableVision, Logic Renewable Energy Renewable Energy United States (Massachusetts, California, and New Jersey), India Ahana Renewables, Vibrant Energy

ACQUISITIONS (Tables)

ACQUISITIONS (Tables)	6 Months Ended
	Jun. 30, 2016
Acquisitions
Schedule of assessment of total acquisition costs to net assets based on acquisition date fair values	The Vibrant Energy Acquisition was accounted for as a business combination in accordance with ASC 805, Business Combinations (“ASC 805”). The total purchase consideration of $6.2 million cash was allocated to the assets acquired and liabilities assumed at their estimated fair values as of the date of the acquisition. The table below represents the preliminary allocation of the consideration transferred to the net assets of Vibrant Energy based on their acquisition date fair values (in thousands): Consideration Transferred $ Preliminary Purchase price allocation: Cash $ Prepayments and other assets Property, plant and equipment Accounts payable and accrued liabilities Goodwill Net assets acquired
Schedule of pro forma results of operations	Amounts are presented in thousands, except per share data: Three months ended Three months ended Six months ended Six months ended June 30, 2016 June 30, 2015 June 30, 2016 June 30, 2015 As As As As As As As As Reported Adjusted Reported Adjusted Reported Adjusted Reported Adjusted Revenue $ $ $ $ $ $ $ $ Net Income attributable to ATN International, Inc. Stockholders Earnings per share: Basic Diluted
KeyTech and BDC
Acquisitions
Schedule of assessment of total acquisition costs to net assets based on acquisition date fair values	Consideration Transferred Cash consideration - KeyTech $ Cash consideration - BDC Total consideration transferred Non-controlling interests - KeyTech Total value to allocate $ Value to allocate KeyTech Value to allocate - BDC Preliminary Purchase price allocation KeyTech: Cash Accounts receivable Other current assets Property, plant and equipment Identifiable intangible assets Other long term assets Accounts payable and accrued liabilities Advance payments and deposits Current debt Long term debt Net assets acquired Gain on KeyTech bargain purchase $ Purchase price allocation BDC: Carrying value of BDC non-controlling interest acquired Excess of purchase price paid over carrying value of non-controlling interest acquired $

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	6 Months Ended
	Jun. 30, 2016
FAIR VALUE MEASUREMENTS
Schedule of assets and liabilities of the entity measured at fair value on a recurring basis	June 30, 2016 Significant Other Quoted Prices in Observable Active Markets Inputs Description (Level 1) (Level 2) Total Certificates of deposit $ — $ $ Money market funds $ $ — $ Total assets measured at fair value $ $ $ December 31, 2015 Significant Other Quoted Prices in Observable Active Markets Inputs Description (Level 1) (Level 2) Total Certificates of deposit $ — $ $ Money market funds $ $ — $ Total assets measured at fair value $ $ $

EQUITY (Tables)

EQUITY (Tables)	6 Months Ended
	Jun. 30, 2016
EQUITY
Schedule of stockholders' equity (in thousands)	Six months ended June 30, 2016 2015 ATN Non-Controlling ATN Non-Controlling Total International, Inc. Interests Total Equity International, Inc. Interests Equity Equity, beginning of period $ $ $ $ $ $ Stock-based compensation — — Comprehensive income: Net income Translation adjustment — — Total comprehensive income Issuance of common stock upon exercise of stock options — — Dividends declared on common stock — — Distributions to non-controlling interests — — Investments made by non-controlling interests — 21,904 (1) — Acquisition of KeyTech — — — — Sale of non-controlling interests — — — — Purchase of non-controlling interests — — — Purchase of treasury stock — — Equity, end of period $ $ $ $ $ $

NET INCOME PER SHARE (Tables)

NET INCOME PER SHARE (Tables)	6 Months Ended
	Jun. 30, 2016
NET INCOME PER SHARE
Schedule of reconciliation from basic to diluted weighted average common shares outstanding (in thousands)	Three months ended June 30, Six months ended June 30, 2016 2015 2016 2015 Basic weighted-average shares of common stock outstanding Stock options — Diluted weighted-average shares of common stock outstanding

SEGMENT REPORTING (Tables)

SEGMENT REPORTING (Tables)	6 Months Ended
	Jun. 30, 2016
SEGMENT REPORTING
Schedule of information for each operating segment (in thousands)	For the Three Months Ended June 30, 2016 U.S. International Renewable Reconciling Telecom Telecom Energy Items (1) Consolidated Revenue Wireless $ $ $ — $ — $ Wireline — — Equipment and Other — Renewable Energy — — — Total Revenue — Depreciation and amortization Non-cash stock-based compensation — — Operating income (loss) For the Three Months Ended June 30, 2015 U.S. International Renewable Reconciling Telecom Telecom Energy Items (1) Consolidated Revenue Wireless $ $ $ — $ — $ Wireline — — Equipment and Other — — Renewable Energy — — — Total Revenue — Depreciation and amortization Non-cash stock-based compensation — — Operating income (loss) For the Six Months Ended June 30, 2016 U.S. International Renewable Reconciling Telecom Telecom Energy Items (1) Consolidated Revenue Wireless $ $ $ — $ — $ Wireline — — Equipment and Other — Renewable Energy — — — Total Revenue — Depreciation and amortization Non-cash stock-based compensation — — Operating income (loss) For the Six Months Ended June 30, 2015 U.S. International Renewable Reconciling Telecom Telecom Energy Items (1) Consolidated Revenue Wireless $ $ $ — $ — $ Wireline — — Equipment and Other — — Renewable Energy — — — Total Revenue — Depreciation and amortization Non-cash stock-based compensation — — Operating income (loss) U.S. International Renewable Reconciling Telecom Telecom Energy Items (1) Consolidated June 30, 2016 Net fixed assets $ $ $ $ $ Goodwill — Total assets December 31, 2015 Net fixed assets $ $ $ $ $ Goodwill — — Total assets Capital Expenditures U.S. International Renewable Reconciling Six months ended June 30, Telecom Telecom Energy Items (1) Consolidated 2016 $ $ $ $ $ 2015 (1) Reconciling items refer to corporate overhead matters and consolidating adjustments.

BASIS OF PRESENTATION - Reclass

BASIS OF PRESENTATION - Reclassifications (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Prior period corrections
Purchases of spectrum licenses and other intangible assets, including deposits		$ 10,860
Payment for purchase of securities		2,000
Loan commitment fees related to the Innovative Transaction		$ 900
Termination and Access Fees [Member]
Prior period corrections
Reclassification, decrease (increase) to expense	$ 100		$ 200
Engineering and Operations Expenses [Member]
Prior period corrections
Reclassification, decrease (increase) to expense	300		400
Selling and Marketing Expense [Member]
Prior period corrections
Reclassification, decrease (increase) to expense	(200)		(300)
General and administrative expense
Prior period corrections
Reclassification, decrease (increase) to expense	$ (200)		$ (300)

BASIS OF PRESENTATION - Tax (De

BASIS OF PRESENTATION - Tax (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
BASIS OF PRESENTATION
Effective tax rate (as a percent)	278.20%	46.40%	46.00%	47.00%
Loss on deconsolidation of Island Wireless business				$ (19,937)

ACQUISITIONS (Details)

ACQUISITIONS (Details) - USD ($) $ in Thousands	Jul. 01, 2016	Jun. 30, 2016	May 03, 2016	May 03, 2016	Apr. 07, 2016	Apr. 07, 2016	Jan. 01, 2015	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Acquisitions
Total consideration				$ 41,563
Revenue								$ 99,991	$ 90,326	$ 189,676	$ 175,670
Income (Loss) from Continuing Operations before Income Taxes								1,059	28,026	16,487	26,657
Transaction related charges								10,410	$ 137	14,065	$ 316
Bermuda wireless operations
Acquisitions
Total consideration				7,045
Vibrant Energy Investment [Member]
Acquisitions
Cash consideration						$ 3,500
Purchase price					$ 6,193	6,193
Remaining purchase price					2,700	$ 2,700
Total consideration					$ 6,193
Revenue										100
Transaction related charges		$ 10,200								9,000
Innovative [Member]
Acquisitions
Total consideration	$ 145,000
Cash-on-hand used to fund the purchase price	$ 85,000
KeyTech [Member]
Acquisitions
Purchase price			$ 74,731	$ 74,731
Ownership percentage			51.00%	51.00%
Retirement of debt							$ 24,700
Total consideration				$ 34,518
Transaction fee		$ 3,200	$ 4,100	$ 4,100				$ 3,200		3,200
Revenue										14,000
Income (Loss) from Continuing Operations before Income Taxes										$ 3,000
KeyTech [Member] | CellOne [Member]
Acquisitions
Ownership percentage			43.00%	43.00%
KeyTech and BDC
Acquisitions
Ownership interest held by minority shareholders			15.00%	15.00%
Telecommunication Equipment
Acquisitions
Discounted rate used for cash flows				15.00%
Telecommunication Equipment | Minimum
Acquisitions
Useful life				3 years
Telecommunication Equipment | Maximum
Acquisitions
Useful life				18 years
Telecommunication Equipment | Customer relationships | Minimum
Acquisitions
Estimated life			9 years
Telecommunication Equipment | Customer relationships | Maximum
Acquisitions
Estimated life			12 years

ACQUISITIONS - Purchase Price A

ACQUISITIONS - Purchase Price Allocation (Details) - USD ($) $ / shares in Units, $ in Thousands	Jul. 01, 2016	May 03, 2016	Apr. 07, 2016	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Consideration Transferred
Total consideration		$ 41,563
Total value to allocate
Value to allocate		74,472
Preliminary purchase price allocation:
Goodwill				$ 40,865		$ 40,865		$ 45,077
Gain on KeyTech bargain purchase				(7,304)		(7,304)
Purchase price allocation BDC:
Revenue				99,991	$ 90,326	189,676	$ 175,670
Rural Telephone Finance Cooperative )RTFC)
Consideration Transferred
Debt instrument, face amount	$ 60,000
CellOne [Member]
Purchase price allocation BDC:
Carrying value of BDC non-controlling interest acquiredCarrying value of BDC non-controlling interest acquired		2,940
Excess of purchase price paid over carrying value of non-controlling interest acquired		4,105
Bermuda wireless operations
Consideration Transferred
Total consideration		7,045
Total value to allocate
Value to allocate		7,045
Vibrant Energy Investment [Member]
Consideration Transferred
Total consideration			$ 6,193
Preliminary purchase price allocation:
Cash			136
Prepayments and other assets			636
Plant and equipment			7,321
Accounts payable and accrued liabilities			(5,179)
Goodwill			3,279
Net assets acquired			$ 6,193
Purchase price allocation BDC:
Revenue						100
KeyTech [Member]
Consideration Transferred
Total consideration		34,518
Non-controlling interests		32,909
Total value to allocate
Value to allocate		67,427
Preliminary purchase price allocation:
Cash		8,185
Accounts receivable		6,451
Other current assets		3,241
Plant and equipment		100,892
Identifiable intangible assets		10,590
Other long term assets		3,464
Accounts payable and accrued liabilities		(16,051)
Advance payments and deposits		(6,683)
Current debt		(6,429)
Long-term debt		(28,929)
Net assets acquired		74,731
Gain on KeyTech bargain purchase		7,304
Non-controlling interests		32,909
Purchase price allocation BDC:
Revenue						14,000
External acquisition related charges relating to legal, accounting and consulting services.		$ 4,100		3,200		3,200
Pro Forma (unaudited)
Revenue				107,006	112,181	231,757	218,510
Net income attributable to ATN stockholders				$ (1,157)	$ 9,746	$ 9,935	$ 25,673
Earnings per shares:
Basic (in dollars per share)				$ (0.07)	$ 0.61	$ 0.62	$ 1.61
Diluted (in dollars per share)				$ (0.07)	$ 0.60	$ 0.61	$ 1.59
Innovative [Member]
Consideration Transferred
Total consideration	145,000
Cash-on-hand used to fund the purchase price	$ 85,000
As reported | KeyTech [Member]
Pro Forma (unaudited)
Revenue				$ 99,991	$ 90,326	$ 189,676	$ 175,670
Net income attributable to ATN stockholders				$ (3,086)	$ 9,450	$ 3,034	$ 6,181
Earnings per shares:
Basic (in dollars per share)				$ (0.19)	$ 0.59	$ 0.19	$ 0.38
Diluted (in dollars per share)				$ (0.19)	$ 0.59	$ 0.19	$ 0.38

LOSS ON DECONSOLIDATION OF SU31

LOSS ON DECONSOLIDATION OF SUBSIDIARY (Details) - USD ($) $ in Thousands	1 Months Ended	6 Months Ended
	Mar. 31, 2015	Jun. 30, 2015
Loss on deconsolidation of subsidiary		$ 19,937
Island Wireless | Disposal Group, Disposed of by Sale, Not Discontinued Operations [Member]
Deconsolidation of non-controlling interests	$ 20,000
Gain arising from excess of proceeds over the carrying value of net assets	100
Island Wireless | Nonoperating Income (Expense) [Member] | Disposal Group, Disposed of by Sale, Not Discontinued Operations [Member]
Loss on deconsolidation of subsidiary	$ 19,900

IMPAIRMENT OF LONG LIVED ASSE32

IMPAIRMENT OF LONG LIVED ASSETS AND GOODWILL (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2016	Dec. 31, 2015
Goodwill
Non-cash impairment charges	$ 11,076	$ 11,076
Goodwill balance	40,865	40,865	$ 45,077
U.S. Telecom
Goodwill
Goodwill balance	32,148	$ 32,148	$ 39,639
U.S. Wireless
Goodwill
Impairment of long-lived assets	11,100
Goodwill impairment	$ 7,500

FAIR VALUE MEASUREMENTS (Detail

FAIR VALUE MEASUREMENTS (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Level 2
Fair value measurements
Long-term debt, fair value	$ 63,500	$ 32,900
Marketable securities, fair value	2,000
Recurring basis | Total
Fair value measurements
Total assets measured at fair value	26,706	76,640
Recurring basis | Certificate of deposit | Total
Fair value measurements
Certificates of deposit	388	377
Recurring basis | Money market funds | Total
Fair value measurements
Money market funds	26,318	76,263
Recurring basis | Level 1
Fair value measurements
Total assets measured at fair value	26,318	76,263
Recurring basis | Level 1 | Money market funds
Fair value measurements
Money market funds	26,318	76,263
Recurring basis | Level 2
Fair value measurements
Total assets measured at fair value	388	377
Recurring basis | Level 2 | Certificate of deposit
Fair value measurements
Certificates of deposit	$ 388	$ 377

LONG-TERM DEBT (Details)

LONG-TERM DEBT (Details) - USD ($) $ in Millions	May 03, 2016	Jan. 01, 2015	Jun. 30, 2016	Jan. 11, 2016	Jan. 10, 2016	Dec. 24, 2014	Dec. 19, 2014
Universal Service Administrative Company
Long-term debt
Commitment fee (as a percent)			1.75%
Amended Credit Facility [Member]
Long-term debt
Maximum borrowing capacity				$ 400	$ 275
Term loans | Ahana Debt
Long-term debt
Term loan assumed						$ 38.9
Outstanding debt			$ 29.7
Term loans | Ahana Debt | Minimum
Long-term debt
Effective interest rate (as a percent)			4.50%
Term loans | Ahana Debt | Maximum
Long-term debt
Effective interest rate (as a percent)			6.00%
Term loans | Public Service Electric & Gas Note [Member]
Long-term debt
Stated interest rate			11.30%
Revolving credit facility | Amended Credit Facility [Member]
Long-term debt
Maximum borrowing capacity							$ 225
Revolving credit facility | Amended Credit Facility [Member] | Minimum
Long-term debt
Commitment fee (as a percent)			0.175%
Revolving credit facility | Amended Credit Facility [Member] | Minimum | LIBOR
Long-term debt
Basis spread on variable rate (as a percent)			1.50%
Basis spread on variable rate (as a percent)			1.50%
Revolving credit facility | Amended Credit Facility [Member] | Minimum | Base rate
Long-term debt
Basis spread on variable rate (as a percent)			0.50%
Basis spread on variable rate (as a percent)			0.50%
Revolving credit facility | Amended Credit Facility [Member] | Maximum
Long-term debt
Commitment fee (as a percent)			0.25%
Revolving credit facility | Amended Credit Facility [Member] | Maximum | LIBOR
Long-term debt
Basis spread on variable rate (as a percent)			1.75%
Basis spread on variable rate (as a percent)			1.75%
Revolving credit facility | Amended Credit Facility [Member] | Maximum | Base rate
Long-term debt
Basis spread on variable rate (as a percent)			0.75%
Basis spread on variable rate (as a percent)			0.75%
Revolving credit facility | Amended Credit Facility [Member] | Amended Credit Facility [Member]
Long-term debt
Maximum borrowing capacity				200
Swingline sub-facility | Amended Credit Facility [Member]
Long-term debt
Maximum borrowing capacity							10
Swingline sub-facility | Amended Credit Facility [Member] | Federal Funds Effective Rate
Long-term debt
Basis spread on variable rate (as a percent)			0.50%
Basis spread on variable rate (as a percent)			0.50%
Swingline sub-facility | Amended Credit Facility [Member] | Minimum | Base rate
Long-term debt
Basis spread on variable rate (as a percent)			1.00%
Basis spread on variable rate (as a percent)			1.00%
Letter of credit sub-facility
Long-term debt
Outstanding letters of credit			$ 10.6
Letter of credit sub-facility | Wholesale Mobility Funds
Long-term debt
Borrowings			0
Letter of credit sub-facility | Amended Credit Facility [Member]
Long-term debt
Maximum borrowing capacity							10
Letter of credit sub-facility | Amended Credit Facility [Member] | Wholesale Mobility Funds
Long-term debt
Maximum borrowing capacity							$ 25
KeyTech [Member]
Long-term debt
Termination of facility		$ 24.7
Outstanding debt			$ 33.8
KeyTech [Member] | Three month LIBOR
Long-term debt
Basis spread on variable rate (as a percent)	3.25%
Outstanding debt	$ 35,400
Basis spread on variable rate (as a percent)	3.25%
KeyTech [Member] | Amended Credit Facility [Member] | Amended Credit Facility [Member]
Long-term debt
Secured debt principal amount				60
KeyTech [Member] | Amended Credit Facility [Member] | Amended Credit Facility [Member] | Maximum
Long-term debt
Potential cash dividend				$ 13

GOVERNMENT GRANTS (Details)

GOVERNMENT GRANTS (Details) $ in Millions	1 Months Ended		6 Months Ended
	Oct. 31, 2014USD ($)	Aug. 31, 2013USD ($)	Jun. 30, 2016USD ($)item
MOBILITY FUND GRANTS
Number of new funds created by FCC | item			2
Period over which a portion of the Mobility Funds is used to offset the costs of supporting the networks			5 years
Letter of credit sub-facility
MOBILITY FUND GRANTS
Letters of credit posted to USAC			$ 10.6
Wholesale Mobility Funds
MOBILITY FUND GRANTS
Mobility Funds approved by FCC	$ 2.4	$ 21.7
Wholesale Mobility Funds | U.S. Telecom
MOBILITY FUND GRANTS
Mobility Funds received			8.1
Wholesale Mobility Funds | U.S. Telecom | Operating Expenses [Member]
MOBILITY FUND GRANTS
Grant funds used to offset fixed asset related costs			2.2
Wholesale Mobility Funds | U.S. Telecom | Property, Plant and Equipment [Member]
MOBILITY FUND GRANTS
Grant funds used to offset fixed asset related costs			5.8
Wholesale Mobility Funds | U.S. Telecom | Other long-term liabilities
MOBILITY FUND GRANTS
Mobility Funds received			$ 0.1

EQUITY (Details)

EQUITY (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016USD ($)	Jun. 30, 2015USD ($)	Jun. 30, 2016USD ($)subsidiary	Jun. 30, 2015USD ($)
Stockholders' equity
Equity, beginning of period			$ 761,724	$ 738,182
Stock-based compensation			3,626	2,677
Comprehensive income:
Net income (loss)	$ (1,886)	$ 15,018	8,911	14,526
Other comprehensive income
Foreign currency translation adjustment	(40)	30	(36)	28
Total comprehensive income	(1,926)	15,048	8,875	14,554
Issuance of common stock upon exercise of stock options			585	2,074
Dividends declared on common stock			(10,330)	(9,306)
Distributions to non-controlling interests			(4,404)	(9,261)
Investments made by minority shareholders in consolidated affiliates			21,904	905
Noncontrolling Interest, Increase from Sale of Parent Equity Interest				20,013
Sale of non-controlling interest				20,013
Acquisition of KeyTech			32,903
Purchase of non-controlling interests			(7,045)
Purchase of treasury stock			(2,407)	(1,955)
Equity, end of period	805,431	757,883	805,431	757,883
Atlantic Tele-Network, Inc.
Stockholders' equity
Equity, beginning of period			680,299	677,222
Stock-based compensation			3,626	2,677
Comprehensive income:
Net income (loss)			3,034	6,181
Other comprehensive income
Foreign currency translation adjustment			(36)	28
Total comprehensive income			2,998	6,209
Issuance of common stock upon exercise of stock options			585	2,074
Dividends declared on common stock			(10,330)	(9,306)
Investments made by minority shareholders in consolidated affiliates			21,700
Purchase of non-controlling interests			(4,105)
Purchase of treasury stock			(2,407)	(1,955)
Equity, end of period	670,666	676,921	$ 670,666	676,921
Number of subsidiaries | subsidiary			1
Non-Controlling Interests
Stockholders' equity
Equity, beginning of period			$ 81,425	60,960
Comprehensive income:
Net income (loss)			5,877	8,345
Other comprehensive income
Total comprehensive income			5,877	8,345
Distributions to non-controlling interests			(4,404)	(9,261)
Investments made by minority shareholders in consolidated affiliates			21,904	905
Noncontrolling Interest, Increase from Sale of Parent Equity Interest				20,013
Sale of non-controlling interest				20,013
Acquisition of KeyTech			32,903
Purchase of non-controlling interests			(2,940)
Equity, end of period	$ 134,765	$ 80,962	$ 134,765	$ 80,962

NET INCOME (LOSS) PER SHARE (De

NET INCOME (LOSS) PER SHARE (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Reconciliation from basic to diluted weighted average common shares outstanding
Basic weighted-average shares of common stock outstanding	16,145,000	16,038,000	16,118,000	15,988,000
Stock options (in shares)		112,000	103,000	121,000
Diluted weighted-average shares of common stock outstanding	16,145,000	16,150,000	16,221,000	16,109,000
Anti-dilutive potential shares excluded from the computation of diluted weighted average shares outstanding (in shares)	105,000	0	5,000	0

SEGMENT REPORTING (Details)

SEGMENT REPORTING (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016USD ($)	Jun. 30, 2015USD ($)segment	Jun. 30, 2016USD ($)	Jun. 30, 2015USD ($)segment	Dec. 31, 2015USD ($)
Segment reporting
Number of reportable segments | segment		5		5
Revenue
Revenue	$ 99,991	$ 90,326	$ 189,676	$ 175,670
Depreciation and amortization	16,493	14,472	31,047	29,223
Non-cash stock-based compensation	1,905	1,453	3,633	2,677
Operating income (loss)	1,912	28,732	17,804	47,892
Segment Assets
Net fixed assets	486,729		486,729		$ 373,503
Goodwill	40,865		40,865		45,077
Total assets	1,045,384		1,045,384		945,004
Capital Expenditures
Capital expenditures			42,727	28,031
U.S. Wireless
Revenue
Revenue	57,088	60,326	115,965	117,341
Wireline
Revenue
Revenue	33,976	22,089	56,421	42,681
Equipment and other
Revenue
Revenue	3,365	2,621	6,139	5,069
Renewable energy
Revenue
Revenue	5,562	5,290	11,151	10,579
Reconciling Items
Revenue
Depreciation and amortization	1,467	1,212	2,818	2,346
Non-cash stock-based compensation	1,877	1,424	3,576	2,467
Operating income (loss)	(1,221)	(7,413)	(9,875)	(13,867)
Segment Assets
Net fixed assets	10,544		10,544		14,085
Total assets	268,738		268,738		315,739
Capital Expenditures
Capital expenditures			3,755	1,679
U.S. Telecom
Revenue
Revenue	43,947	47,480	90,145	89,857
Depreciation and amortization	5,609	5,657	11,229	11,159
Operating income (loss)	4,797	23,122	21,579	39,896
Segment Assets
Net fixed assets	120,103		120,103		119,596
Goodwill	32,148		32,148		39,639
Total assets	242,524		242,524		227,707
Capital Expenditures
Capital expenditures			16,447	17,075
U.S. Telecom | U.S. Wireless
Revenue
Revenue	37,655	40,103	77,119	75,946
U.S. Telecom | Wireline
Revenue
Revenue	5,811	6,679	11,857	12,672
U.S. Telecom | Equipment and other
Revenue
Revenue	481	698	1,169	1,239
International Telecom
Revenue
Revenue	50,362	37,556	88,260	75,234
Depreciation and amortization	8,209	6,399	14,586	13,310
Operating income (loss)	1,955	10,332	9,655	16,520
Segment Assets
Net fixed assets	243,935		243,935		133,262
Goodwill	5,438		5,438		5,438
Total assets	390,932		390,932		278,770
Capital Expenditures
Capital expenditures			22,283	9,265
International Telecom | U.S. Wireless
Revenue
Revenue	19,433	20,223	38,846	41,395
International Telecom | Wireline
Revenue
Revenue	28,165	15,410	44,564	30,009
International Telecom | Equipment and other
Revenue
Revenue	2,764	1,923	4,850	3,830
Renewable energy
Revenue
Revenue	5,682	5,290	11,271	10,579
Depreciation and amortization	1,207	1,204	2,415	2,408
Non-cash stock-based compensation	28	29	57	210
Operating income (loss)	(3,619)	2,691	(3,555)	5,343
Segment Assets
Net fixed assets	112,147		112,147		106,560
Goodwill	3,279		3,279
Total assets	143,190		143,190		$ 122,788
Capital Expenditures
Capital expenditures			242	12
Renewable energy | Equipment and other
Revenue
Revenue	120		120
Renewable energy | Renewable energy
Revenue
Revenue	$ 5,562	$ 5,290	$ 11,151	$ 10,579

COMMITMENTS AND CONTINGENCIES -

COMMITMENTS AND CONTINGENCIES - Narrative (Details) AWG in Millions, $ in Millions	1 Months Ended	6 Months Ended		12 Months Ended
	Nov. 30, 2007USD ($)	Jun. 30, 2016AWG	Jun. 30, 2016USD ($)	Dec. 31, 2011USD ($)
Commitments and contingencies
Renewal fee of telecommunications license		AWG 7.2	$ 4
Contingency related to spectrum fees
Commitments and contingencies
Spectrum fees paid				$ 2.6
Letter of credit sub-facility
Commitments and contingencies
Outstanding letters of credit			$ 10.6
Universal Service Administrative Company
Commitments and contingencies
Commitment fee (as a percent)		1.75%	1.75%
Lawsuit filed by CTL
Commitments and contingencies
Damages asserted	$ 200
Litigation proceedings and disputes in Guyana
Commitments and contingencies
Period for which litigation proceedings and other disputes have not been the subject of discussions or other significant activity		5 years	5 years
Lawsuit filed by GT&T against Digicel
Commitments and contingencies
Damages asserted			$ 9
Punitive damages			5
Legal claims regarding tax filings with the Guyana Revenue Authority
Commitments and contingencies
Future payments related to disputed tax assessments			32.4
Accrued contingent liability			$ 5
Legal claims regarding tax filings with the Guyana Revenue Authority | Minimum
Commitments and contingencies
Percentage of return on investment ensured by the government of Guyana		15.00%	15.00%