ATN International (ATNI) 10-Q 11 May 20 2020 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2020	May 11, 2020
Cover page.
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2020
Document Transition Report	false
Entity File Number	001-12593
Entity Registrant Name	ATN INTERNATIONAL, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	47-0728886
Entity Address, Address Line One	500 Cummings Center, Suite 2450
Entity Address, City or Town	Beverly
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	01915
City Area Code	978
Local Phone Number	619-1300
Title of 12(b) Security	Common Stock, par value $.01 per share
Trading Symbol	ATNI
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		15,981,046
Entity Central Index Key	0000879585
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q1
Amendment Flag	false

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Current Assets:
Cash and cash equivalents	$ 145,913	$ 161,287
Restricted cash	1,072	1,071
Short-term investments	104	416
Accounts receivable, net of allowance for credit losses of $12.7 million and $12.7 million, respectively	45,246	35,904
Inventory, materials and supplies	5,399	5,253
Prepayments and other current assets	37,608	24,792
Total current assets	235,342	228,723
Fixed Assets:
Property, plant and equipment	1,246,452	1,237,555
Less accumulated depreciation	(653,525)	(631,974)
Net fixed assets	592,927	605,581
Telecommunication licenses, net	93,687	93,686
Goodwill	60,691	60,691
Customer relationships, net	7,014	7,441
Operating lease right-of-use assets	65,515	68,763
Other assets	53,416	65,841
Total assets	1,108,592	1,130,726
Current Liabilities:
Current portion of long-term debt	3,750	3,750
Accounts payable and accrued liabilities	66,307	74,093
Dividends payable	2,722	2,721
Accrued taxes	9,625	8,517
Current portion of operating lease liabilities	11,179	11,406
Advance payments and deposits	19,861	19,182
Total current liabilities	113,444	119,669
Deferred income taxes	7,545	8,680
Operating lease liabilities, excluding current portion	53,721	56,164
Other liabilities	59,028	57,454
Long-term debt, excluding current portion	81,775	82,676
Total liabilities	315,513	324,643
Commitments and contingencies (Note 14)
ATN International, Inc. Stockholders' Equity:
Preferred stock, $0.01 par value per share; 10,000,000 shares authorized, none issued and outstanding
Common stock, $0.01 par value per share; 50,000,000 shares authorized; 17,365,847 and 17,324,858 shares issued, respectively, 15,979,034 and 16,001,937 shares outstanding, respectively	172	172
Treasury stock, at cost; 1,386,813 and 1,322,921 shares, respectively	(54,358)	(51,129)
Additional paid-in capital	189,667	188,471
Retained earnings	538,161	541,890
Accumulated other comprehensive income	(7,884)	(3,282)
Total ATN International, Inc. stockholders' equity	665,758	676,122
Non-controlling interests	127,321	129,961
Total equity	793,079	806,083
Total liabilities and equity	$ 1,108,592	$ 1,130,726

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
CONDENSED CONSOLIDATED BALANCE SHEETS
Accounts receivable, allowances (in dollars)	$ 12.7	$ 12.7
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	17,365,847	17,324,858
Common stock, shares outstanding	15,979,034	16,001,937
Treasury stock, shares	1,386,813	1,322,921

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
REVENUE:
Total Revenue	$ 110,905	$ 103,300
OPERATING EXPENSES (excluding depreciation and amortization unless otherwise indicated):
Termination and access fees	28,113	27,888
Engineering and operations	18,489	19,032
Sales, marketing and customer service	9,504	9,390
General and administrative	24,923	23,816
Transaction-related charges	44	40
Depreciation and amortization	22,518	20,718
Loss on disposition of long-lived assets	15	302
Total operating expenses	103,606	101,186
Income from operations	7,299	2,114
OTHER INCOME (EXPENSE)
Interest income	243	928
Interest expense	(1,156)	(1,281)
Other expenses	(2,901)	187
Other income (expense), net	(3,814)	(166)
INCOME BEFORE INCOME TAXES	3,485	1,948
Income tax provisions	1,109	1,213
NET INCOME	2,376	735
Net income attributable to non-controlling interests, net of tax expense of $0.3 million and $0.4 million, respectively.	(3,390)	(2,316)
NET LOSS ATTRIBUTABLE TO ATN INTERNATIONAL, INC. STOCKHOLDERS	$ (1,014)	$ (1,581)
NET LOSS PER WEIGHTED AVERAGE SHARE ATTRIBUTABLE TO ATN INTERNATIONAL, INC. STOCKHOLDERS:
Basic (in dollars per share)	$ (0.06)	$ (0.10)
Diluted (in dollars per share)	$ (0.06)	$ (0.10)
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING:
Basic (in shares)	16,001	16,001
Diluted (in shares)	16,001	16,001
DIVIDENDS PER SHARE APPLICABLE TO COMMON STOCK (in dollars per share)	$ 0.17	$ 0.17
Communication services
REVENUE:
Total Revenue	$ 107,896	$ 100,465
Other
REVENUE:
Total Revenue	$ 3,009	$ 2,835

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Parenthetical) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
Noncontrolling interest income tax expense	$ 0.3	$ 0.4

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
Net income	$ 2,376	$ 735
Other comprehensive income (loss):
Foreign currency translation adjustment	(4,425)	237
Unrealized loss on derivatives	(177)	(61)
Other comprehensive income (loss), net of tax	(4,602)	176
Comprehensive income (loss)	(2,226)	911
Less: Comprehensive income attributable to non-controlling interests	(3,390)	(2,316)
Comprehensive loss attributable to ATN International, Inc.	$ (5,616)	$ (1,405)

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF EQUITY - USD ($) $ in Thousands	Total ATNI Stockholders' Equity	Common Stock	Treasury Stock, at cost	Additional Paid In Capital	Retained Earnings	Accumulated Other Comprehensive Income/(Loss)	Non-Controlling Interests	Total
Balance, beginning of period at Dec. 31, 2018	$ 695,387	$ 172	$ (48,547)	$ 181,778	$ 563,593	$ (1,609)	$ 127,937	$ 823,324
Increase (Decrease) in Stockholders' Equity
Purchase of shares of common stock	(1,569)		(1,569)					(1,569)
Stock-based compensation	1,301			1,301				1,301
Dividends declared on common stock	(2,693)				(2,693)		(1,553)	(4,246)
Repurchase of non-controlling interests							(225)	(225)
Investments made by minority shareholders in consolidated affiliates							488	488
Comprehensive income:
Net income (loss)	(1,581)				(1,581)		2,316	735
Other comprehensive income	176					176		176
Comprehensive income (loss)	(1,405)						2,316	911
Balance, end of period at Mar. 31, 2019	691,021	172	(50,116)	183,079	559,319	(1,433)	128,963	819,984
Balance, beginning of period at Dec. 31, 2019	676,122	172	(51,129)	188,471	541,890	(3,282)	129,961	806,083
Increase (Decrease) in Stockholders' Equity
Purchase of shares of common stock	(3,229)		(3,229)					(3,229)
Stock-based compensation	1,196			1,196			(36)	1,160
Dividends declared on common stock	(2,715)				(2,715)		(4,220)	(6,935)
Repurchase of non-controlling interests							(1,774)	(1,774)
Comprehensive income:
Net income (loss)	(1,014)				(1,014)		3,390	2,376
Other comprehensive income	(4,602)					(4,602)		(4,602)
Comprehensive income (loss)	(5,616)						3,390	(2,226)
Balance, end of period at Mar. 31, 2020	$ 665,758	$ 172	$ (54,358)	$ 189,667	$ 538,161	$ (7,884)	$ 127,321	$ 793,079

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF EQUITY(Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
CONDENSED CONSOLIDATED STATEMENTS OF EQUITY
Purchase of shares of common stock	62,892	28,242
Dividends declared on common stock (dollars per per share)	$ 0.17	$ 0.17

CONDENSED CONSOLIDATED STATEM_6

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Cash flows from operating activities:
Net income	$ 2,376	$ 735
Adjustments to reconcile net income to net cash flows provided by operating activities:
Depreciation and amortization	22,518	20,718
Provision for doubtful accounts	1,260	1,285
Amortization of debt discount and debt issuance costs	126	160
Stock-based compensation	1,160	1,301
Deferred income taxes	(1,135)	(1,914)
Loss on equity investments	1,775
(Gain) loss on disposition of long-lived assets	15	302
Unrealized loss on foreign currency	739	(64)
Other non-cash activity		(17)
Changes in operating assets and liabilities, excluding the effects of acquisitions and dispositions:
Accounts receivable	(10,887)	(9,102)
Materials and supplies, prepayments, and other current assets	431	90
Prepaid income taxes	399	5,158
Accounts payable and accrued liabilities, advance payments and deposits and other current liabilities	(4,055)	(3,188)
Accrued taxes	355	1,620
Other assets	298	324
Other liabilities	84	1,362
Net cash provided by operating activities	15,459	18,770
Cash flows from investing activities:
Capital expenditures	(14,061)	(17,641)
Hurricane rebuild capital expenditures		(123)
Purchases of strategic investments	(2,768)	(10,000)
Purchase of short-term investments		(5,000)
Proceeds from sale of short-term investments		141
Net cash used in investing activities	(16,829)	(32,623)
Cash flows from financing activities:
Dividends paid on common stock	(2,721)	(2,720)
Distributions to non-controlling interests	(4,220)	(1,540)
Payment of debt issuance costs	(1,010)
Principal repayments of term loan	(938)	(949)
Stock-based compensation share repurchases	(1,625)	(1,569)
Purchases of common stock- share repurchase plan	(1,600)
Repurchases of non-controlling interests	(1,774)	(225)
Investments made by minority shareholders in consolidated affiliates		488
Net cash used in financing activities	(13,888)	(6,515)
Effect of foreign currency exchange rates on cash and cash equivalents	(115)	15
Net change in cash, cash equivalents, and restricted cash	(15,373)	(20,353)
Total cash, cash equivalents, and restricted cash, beginning of period	162,358	192,907
Total cash, cash equivalents, and restricted cash, end of period	146,985	172,554
Noncash investing activity:
Purchases of property, plant and equipment included in accounts payable and accrued expenses	$ 8,393	$ 8,129

ORGANIZATION AND BUSINESS OPERA

ORGANIZATION AND BUSINESS OPERATIONS	3 Months Ended
	Mar. 31, 2020
ORGANIZATION AND BUSINESS OPERATIONS
ORGANIZATION AND BUSINESS OPERATIONS	1. ORGANIZATION AND BUSINESS OPERATIONS ​ The Company is a holding company that, directly and through its subsidiaries, owns and operates telecommunications businesses in North America, the Caribbean and Bermuda as well as a renewable energy business in India. The Company was incorporated in Delaware in 1987, began trading publicly in 1991 and spun off more than a half of its operations to stockholders in 1998. Since that time, has engaged in many strategic acquisitions and investments to help grow its operations, using the generated its established operating units to in its existing businesses , to make strategic investments in additional businesses, and to return cash to the Company’s investors. The Company has built, and seeks to maintain, resources to support its operating subsidiaries and to improve their customer acquisition, retention, and satisfaction while maintaining optimal operating efficiencies. looks businesses that opportunities or potential strategic benefits, but additional capital investment in order to execute on their business plans. holds controlling positions to of its investments and non-controlling positions in others. frequently product and development component in addition to the prospect of generating on its invested capital. ​ The Company has identified three operating segments to manage and review its operations and to facilitate investor presentations of its results. These three operating segments are as follows: ​ ● International Telecom. The Company’s international telecom segment offers services to other telecom providers (“Carrier Services”), such as international long-distance, roaming from other carriers’ customers roaming into the Company’s retail markets, and transport and access services, as well as fixed internet and voice services and retail mobility services to customers in Bermuda, Guyana and the US Virgin Islands. The Company also offers fixed video services in Bermuda, the Cayman Islands, and the US Virgin Islands. In addition, the international telecom segment offers managed information technology services to enterprise customers. ​ ● US Telecom. In the United States, the Company offers Carrier Services, including wholesale roaming services, site maintenance and the leasing of critical network infrastructure such as towers and transport facilities, as well as fixed and mobile communications services to the Company’s retail customers in the Southwestern United States, and communications services provided to enterprise customers. ​ ● Renewable Energy. In India, the Company provides distributed generation solar power to corporate, utility and municipal 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 March 31, 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ Segment Services Markets Tradenames International Telecom Mobility Bermuda, Guyana, US Virgin Islands GTT+, One, Logic, Viya ​ ​ Fixed Bermuda, Cayman Islands, Guyana, US Virgin Islands GTT+, One, Logic, Viya ​ ​ ​ Carrier Services ​ Bermuda, Guyana, US Virgin Islands ​ GTT+, One, Logic, Viya ​ ​ ​ Managed Services ​ Bermuda, US Virgin Islands ​ Fireminds, One, Logic, Viya ​ US Telecom Mobility United States (rural markets) Choice, Choice NTUA Wireless, Commnet, WestNet, Geoverse ​ ​ ​ Fixed ​ United States ​ Commnet, Choice, Choice NTUA Wireless, Deploycom, WestNet ​ ​ ​ Carrier Services ​ ​ ​ Commnet, Essextel ​ ​ Managed Services ​ Choice ​ Renewable Energy ​ Solar ​ India ​ 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. In addition, the Company considers non-controlling investments in earlier stage businesses that it considers strategically relevant, and which may offer long-term growth potential for the Company, either individually, or as research and development businesses that can support the Company’s operating subsidiaries in new product and service development and offerings. 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 revenues which is eliminated in consolidation. For further information about the Company’s financial segments and geographical information about its operating revenues and assets, see Note 13 to the Consolidated Financial Statements included in this Report. ​ COVID-19 ​ In March 2020, the World Health Organization declared a novel strain of coronavirus, now referred to as COVID-19, as a pandemic, as the virus spread globally to multiple countries, including the United States and other countries in which the Company has substantial operations. The Company is continuing to monitor and assess the effects of the COVID-19 pandemic on its commercial operations, the safety of its employees and their families, its sales force and customers and any potential impact on the Company’s revenue in 2020. ​ The preparation of the condensed consolidated financial statements requires the Company to make estimates, judgments and assumptions that may affect the reported amounts of assets, liabilities, equity, revenues and expenses and related disclosure of contingent assets and liabilities. On an ongoing basis the Company evaluates estimates, judgments and methodologies. The Company assessed certain accounting matters and estimates that generally require consideration of forecasted financial information in context with the information and estimates reasonably available to the Company and the unknown future impacts COVID-19 as of March 31, 2020 and through the date of this report. The accounting matters assessed included, but were not limited to, the Company’s allowance for credit losses, the carrying value of its goodwill and other long-lived assets, financial assets, valuation allowances for tax assets and revenue recognition. While the Company’s assessment did not indicate that there was a material impact to the Company’s consolidated financial statements as of and for the quarter ended March 31, 2020, the Company’s future assessments of the impacts of COVID-19, as well as other factors, could result in material impacts to the Company’s consolidated financial statements in future reporting periods. The extent to which the COVID-19 pandemic ultimately impacts the Company’s business, financial condition, results of operations, cash flows, and liquidity may differ from management’s current estimates due to inherent uncertainties regarding the duration and further spread of the outbreak, its severity, actions taken to contain the virus or treat its impact, and how quickly and to what extent economic conditions normalize and more customary operating conditions resume. Actual results may materially differ from these estimates.

BASIS OF PRESENTATION

BASIS OF PRESENTATION	3 Months Ended
	Mar. 31, 2020
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 Annual Report on Form 10-K for the year ended December 31, 2019, filed with the SEC on March 2, 2020, ​ The condensed consolidated financial statements include the accounts of the Company, its subsidiaries in which the Company holds controlling interests 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. ​ Presentation of Revenue ​ The Company has changed its presentation of revenue in the Condensed Consolidated Statement of Operations and in the Selected Segment Financial Information tables. This change is intended to better align the Company’s financial performance with industry competitors and to facilitate a more constructive dialogue with the investment community. ​ Specifically, the previously disclosed revenue categories of wireless and wireline revenue are being represented as mobility, fixed and Carrier Services revenue within the Company’s segment information and are included within communications services revenue within its Statements of Operations. Managed services revenue, which was previously a component of wireline revenue, is now included in other revenue along with revenue from the Company’s Renewable Energy operations. ​ Recent Accounting Pronouncements In February 2016, the FASB issued ASU 2016-02, “Leases (Topic 842)” and subsequently issued related updates (“ASU 2016-02”), which provide 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 became effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018, with early adoption permitted. The Company adopted ASC 2016-02 on January 1, 2019 utilizing the optional transition method with a cumulative adjustment on the date of adoption and not adjusting prior periods. Refer to Note 4 of the Condensed Consolidated Financial Statements. ​ In August 2017, the FASB issued ASU 2017-12, “Derivatives and Hedging (Topic 815) – Targeted Improvements to Accounting for Hedging Activities” (“ASU 2017-12”). The standard: (a) expands and refines hedge accounting for both financial and non-financial risk components, (b) aligns the recognition and presentation of the effects of hedging instruments and hedge items in the financial statements, and (c) includes certain targeted improvements to ease the application of current guidance related to the assessment of hedge effectiveness. The guidance is effective for public business entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018. The Company adopted this standard on January 1, 2019. There was not a material impact to the Company’s Consolidated Financial Statements upon adoption. ​ In June 2016, the FASB issued ASU 2016-13, “Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments” (“ASU 2016-13”). ASU 2016-13 requires entities to use a new forward-looking, expected loss model to estimate credit losses. It also requires additional disclosure relating to the credit quality of trade and other receivables, including information relating to management’s estimate of credit allowances. The Company adopted ASU 2016-13 using the modified retrospective approach on its January 1, 2020 effective date. Refer to Note 3 of the Condensed Consolidated Financial Statements in this Report. ​

REVENUE RECOGNITION AND RECEIVA

REVENUE RECOGNITION AND RECEIVABLES	3 Months Ended
	Mar. 31, 2020
REVENUE RECOGNITION AND RECEIVABLES
REVENUE RECOGNITION AND RECEIVABLES	3. REVENUE RECOGNITION AND RECEIVABLES ​ Contract Assets and Liabilities ​ The Company recognizes contract assets and liabilities on its balance sheet. Contract assets represent unbilled amounts typically resulting from retail wireless contracts with both a multiyear service period and a promotional discount. In these contracts the revenue recognized exceeds the amount billed to the customer. The current portion of the contract asset is recorded in prepayments and other current assets and the noncurrent portion is included in other assets on the Company’s balance sheets. ​ Contract liabilities consist of advance payments and billings in excess of revenue recognized. Retail revenue for postpaid customers is generally billed one month in advance and recognized over the period that the corresponding service is rendered to customers. To the extent the service is not provided by the reporting date the amount is recognized as a contract liability. Prepaid service, including mobile voice and data services, sold to customers is recorded as deferred revenue prior to the commencement of services. Contract liabilities are recorded in advanced payments and deposits on the Company’s balance sheets. ​ In July 2019, the Company entered into a Network Build and Maintenance Agreement (the “FirstNet Agreement”) with AT&T Mobility, LLC (“AT&T”) to build a portion of AT&T’s network for the First Responder Network Authority (“FirstNet”) as well as a commercial wireless network in or near its current operating area in the Southwestern United States (the “FirstNet Transaction”). The transaction includes construction and service performance obligations. The Company allocated the transaction price of the FirstNet Agreement to each performance obligation based on the relative standalone selling price of each performance obligation in the contract. The standalone selling price is the estimated price the Company would charge for the good or service in a separate transaction with similar customers in similar circumstances. ​ The Company has certain wholesale roaming agreements that contain stand ready performance obligations and management allocates transaction value to performance obligations based on the standalone selling price. The standalone selling price is the estimated price the Company would charge for the good or service with similar customers in similar circumstances. Management determined the performance obligations were obligations to make the service continuously available and will recognize revenue evenly over the service period. ​ Contract assets and liabilities consisted of the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2020 ​ December 31, 2019 ​ ​ $ Change ​ % Change Contract asset – current $ 2,375 ​ $ 2,413 ​ $ (38) ​ (2) % Contract asset – noncurrent ​ 816 ​ ​ 905 ​ ​ (89) ​ (10) % Contract liability – current ​ (19,371) ​ ​ (15,044) ​ ​ (4,327) ​ 29 % Contract liability – noncurrent ​ (5,193) ​ ​ (5,450) ​ ​ 257 ​ (5) % Net contract liability $ (21,373) ​ $ (17,176) ​ $ (4,197) ​ 24 % ​ The contract asset – current is included in prepayments and other current assets, the contract asset – noncurrent is included in other assets, and the contract liabilities are included in advance payments and deposits on the Company’s balance sheet. The increase in the Company’s net contract liability was due to the timing of customer prepayments, contract billings, and the FirstNet Transaction. During the three months ended March 31, 2020, the Company recognized revenue of $12.0 million related to its December 31, 2019 contract liability. During the three months ended March 31, 2020 the Company amortized $0.7 million of the December 31, 2019 contract asset into revenue. The Company did not recognize any revenue in the three months ended March 31, 2020 related to performance obligations that were satisfied or partially satisfied in previous periods. ​ Contract Acquisition Costs ​ The March 31, 2020 balance sheet includes current contract acquisition costs of $1.7 million in prepayments and other current assets and long term contract acquisition costs of $1.1 million in other assets. During the three months ended March 31, 2020, the Company amortized $0.5 million of contract acquisition cost. ​ Remaining Performance Obligations ​ Remaining performance obligations represent the transaction price allocated to unsatisfied performance obligations of certain multiyear retail wireless contracts, which include a promotional discount, and the Company’s construction and service contracts. The transaction price allocated to unsatisfied performance obligations was $353 million and $241 million at March 31, 2020 and December 31, 2019, respectively. The Company expects to satisfy the majority of the remaining performance obligations and recognize the transaction price within 24 months and the remainder thereafter. ​ The Company has certain retail, wholesale, and renewable energy contracts where transaction price is allocated to remaining performance obligations. However, the Company omits these contracts from its disclosure by applying the right to invoice , one year or less, and wholly unsatisfied performance obligation practical expedients. ​ Disaggregation ​ The Company's revenue is presented on a disaggregated basis in Note 13 based on an evaluation of disclosures outside the financial statements, information regularly reviewed by the chief operating decision makers for evaluating the financial performance of operating segments and other information that is used for performance evaluation and resource allocations. This includes revenue from communication services and other revenue. Communication Services revenue is further disaggregated into mobility, fixed, Carrier Services, and other services. Other revenue is further disaggregated into renewable energy and managed services. This disaggregation of revenue depicts how the nature, amount, timing and uncertainty of revenue and cash flows are affected by economic factors. ​ Receivables ​ The Company adopted ASU 2016-13 on January 1, 2020. The standard requires that certain financial assets be measured at amortized cost reflecting an allowance for estimated credit losses expected to occur over the life of the assets. The estimate of credit losses is based on all relevant information including historical information, current conditions, and reasonable and supportable forecasts that affect the collectability of the amounts. We adopted ASU 2016-13 using the modified retrospective approach, however, there was no impact of adoption on retained earnings. ​ The standard impacted the Company’s calculation of credit losses from trade receivables. Historically, the Company recorded credit losses subsequent to the initial revenue transaction. After adoption of ASU 2016-13, the Company will record an estimate of future credit losses in conjunction with the revenue transaction based on the information available including historical experience and management’s expectations of future conditions. Those estimates will be updated as additional information becomes available. Our allowance for uncollectible accounts receivable is based on management’s assessment of the collectability of assets pooled together with similar risk characteristics. There is no significant impact to our operating results for the current period due to the adoption of this standard. ​ million. At January 1, 2020 the Company had gross accounts receivable of $48.6 million and an allowance for credit losses of $12.7 million. The Company monitors receivables through the use of historical operating data adjusted for expectation of future performance as appropriate. Activity in the allowance for credit losses is below: ​ ​ ​ ​ ​ ​ Three months ended March 31, 2020 ​ ​ ​ ​ Balance at January 1, 2020 $ 12,724 Current period provision for expected losses ​ 1,260 Write-offs charged against the allowance ​ (1,525) Recoveries collected ​ ​ 208 Balance at March 31, 2020 ​ $ 12,667 ​

LEASES

LEASES	3 Months Ended
	Mar. 31, 2020
LEASES
LEASES	4. LEASES ​ The Company adopted ASC 842 on January 1, 2019, utilizing the optional transition method with a cumulative adjustment on the date of adoption. Under this approach, the guidance was applied to leases that had commenced as of January 1, 2019 with a cumulative effect adjustment as of that date and prior periods were not adjusted. Upon adoption, the Company recognized an operating lease right-of-use (“ROU”) asset of $70.8 million, a short-term lease liability of $8.2 million, and a long-term lease liability of $61.2 million. The adoption had no impact on retained earnings or other components of equity. The Company elected the package of practical expedients . Under the package of practical expedients, for existing leases, the Company does not reassess: i) whether the arrangement contains a lease; ii) lease classification and; iii) initial direct costs. The Company has operating and financing leases for towers, land, corporate offices, retail facilities, and data transport capacity. The lease terms are generally between three and ten years , some of which include additional renewal options. ​ ​ Supplemental lease information ​ The components of lease expense were as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended March 31, 2020 ​ Three months ended March 31, 2019 Operating lease cost: ​ ​ ​ ​ ​ Operating lease cost $ 4,047 ​ $ 3,516 Short-term lease cost ​ 543 ​ ​ 713 Variable lease cost ​ 803 ​ ​ 961 Total operating lease cost $ 5,393 ​ $ 5,190 ​ ​ ​ ​ ​ ​ Finance lease cost: ​ ​ ​ ​ ​ Amortization of right-of-use asset $ 571 ​ $ 593 Variable costs ​ 272 ​ ​ 296 Total finance lease cost $ 843 ​ $ 889 ​ During the three months ended March 31, 2020 and 2019, the Company paid $3.5 million and $3.2 million, respectively, related to lease liabilities. During the three months ended March 31, 2020 the Company did not record any additional lease liabilities arising from ROU assets. During the three months ended March 31, 2019, the Company recorded million of lease liabilities arising from ROU assets. At million were included in property, plant and equipment. At December 31, 2019, finance leases with a cost of ​ The weighted average remaining lease terms and discount rates as of March 31, 2020 and December 31, 2019 are noted in the table below: ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2020 ​ December 31, 2019 Weighted-average remaining lease term ​ ​ ​ ​ ​ Operating leases ​ 6.4 years ​ ​ 6.5 years Financing leases ​ 11.7 years ​ ​ 11.7 years ​ ​ ​ ​ ​ ​ Weighted-average discount rate ​ ​ ​ ​ ​ Operating leases ​ 5.1% ​ ​ 5.0% Financing leases ​ n/a ​ ​ n/a ​ ​ Maturities of lease liabilities as of March 31, 2020 were as follows (in thousands): ​ ​ ​ ​ ​ Operating Leases 2020 (excluding the three months ended March 31, 2020) $ 11,097 2021 ​ 13,748 2022 ​ 12,773 2023 ​ 10,561 2024 ​ 9,532 Thereafter ​ 18,572 Total lease payments ​ 76,283 Less imputed interest ​ (11,384) Total $ 64,899 ​ ​ ​ ​ ​ ​ Operating Leases 2020 $ 14,526 2021 ​ 13,714 2022 ​ 12,787 2023 ​ 10,713 2024 ​ 9,671 Thereafter ​ 18,355 Total lease payments ​ 79,766 Less imputed interest ​ (12,195) Total $ 67,571 ​ As of March 31, 2020, the Company did not have any material operating or finance leases that have not yet commenced.

USE OF ESTIMATES

USE OF ESTIMATES	3 Months Ended
	Mar. 31, 2020
USE OF ESTIMATES
USE OF ESTIMATES	5. 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 credit losses, 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, assessing the impairment of assets, revenue, and income taxes. Actual results could differ significantly from those estimates. See Note 1 for a discussion of the impact of COVID-19 on the use of these estimates. ​

IMPACT OF HURRICANES IRMA AND M

IMPACT OF HURRICANES IRMA AND MARIA	3 Months Ended
	Mar. 31, 2020
IMPACT OF HURRICANES IRMA AND MARIA
IMPACT OF HURRICANES IRMA AND MARIA	6. IMPACT OF HURRICANES IRMA AND MARIA ​ During September 2017, the US Virgin Islands’ economy, the Company’s customer base and its operations were all severely impacted by Hurricanes Irma and Maria (collectively, the “Hurricanes”). The Company’s wireless and wireline networks and commercial operations were severely damaged by these storms and as a result of the significant damage to the wireline network and the lack of consistent commercial power in the territory, the Company was unable to provide most of its wireline services, which comprise the majority of our revenue in this business, from mid-September 2017 and through most of 2018. During the year ended December 31, 2017, the Company recorded a net pre-tax loss within the Company’s consolidated statement of operations of $4.0 million related to the impact of the Hurricanes. This loss consisted of $35.4 million for the write off of damaged assets, net of insurance recoveries of $34.6 million which were received in February 2018. This loss also included $3.2 million of additional operating expenses that were specifically incurred to address the impact of the Hurricanes. ​ During the year ended December 31, 2018, the Company received $15.5 million in additional funding from the Federal Communications Commission’s (“FCC”) Universal Service Fund (“USF”) to further subsidize its operations in the US Virgin Islands that was recorded as revenue. This level of additional funding is not expected to continue in future periods. ​ During the three months ended March 31, 2019 the Company spent $0.1 million for network restoration and resiliency enhancements that allowed the reconnection of a significant majority of affected households and businesses. The Company’s wireline network restoration work is complete, however, whether the Company’s revenue recovers to pre-Hurricane levels will be impacted by population movements, the degree of negative economic impact of the Hurricanes on the local economy, and the Company’s subscriber base’s future appetite for wireline services. ​

FAIR VALUE MEASUREMENTS AND INV

FAIR VALUE MEASUREMENTS AND INVESTMENTS	3 Months Ended
	Mar. 31, 2020
FAIR VALUE MEASUREMENTS AND INVESTMENTS
FAIR VALUE MEASUREMENTS AND INVESTMENTS	7. FAIR VALUE MEASUREMENTS AND INVESTMENTS ​ 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 March 31, 2020 and December 31, 2019 are summarized as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2020 ​ ​ Significant Other ​ ​ Quoted Prices in ​ Observable ​ Unobservable ​ ​ ​ ​ ​ Active Markets ​ Inputs ​ Inputs ​ ​ ​ Description ​ (Level 1) ​ (Level 2) ​ (Level 3) ​ Total Certificates of deposit ​ $ — ​ $ 380 ​ $ — ​ $ 380 Money market funds ​ ​ 2,028 ​ ​ — ​ ​ — ​ ​ 2,028 Short term investments ​ ​ 104 ​ ​ — ​ ​ — ​ ​ 104 Other investments ​ ​ — ​ ​ — ​ ​ 12,996 ​ ​ 12,996 Interest rate swap ​ ​ — ​ ​ (232) ​ ​ — ​ ​ (232) Total assets and liabilities measured at fair value ​ $ 2,132 ​ $ 148 ​ $ 12,996 ​ $ 15,276 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2019 ​ ​ Significant Other ​ ​ ​ Quoted Prices in ​ Observable ​ Unobservable ​ ​ ​ ​ ​ ​ Active Markets ​ Inputs ​ Inputs ​ ​ ​ ​ Description ​ (Level 1) ​ (Level 2) ​ (Level 3) ​ Total Certificates of deposit ​ $ — ​ $ 380 ​ $ — ​ $ 380 ​ Money market funds ​ ​ 2,329 ​ ​ — ​ ​ — ​ ​ 2,329 ​ Short term investments ​ ​ 416 ​ ​ — ​ ​ — ​ ​ 416 ​ Other investments ​ ​ — ​ ​ — ​ ​ 12,700 ​ ​ 12,700 ​ Interest rate swap ​ ​ — ​ ​ (56) ​ ​ — ​ ​ (56) ​ Total assets and liabilities measured at fair value ​ $ 2,745 ​ $ 324 ​ $ 12,700 ​ $ 15,769 ​ ​ Certificate of Deposit ​ As of March 31, 2020 and December 31, 2019, this asset class consisted of a time deposit at a financial institution denominated in US 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 March 31, 2020 and December 31, 2019, this asset class consisted of a money market portfolio that comprises Federal government and US 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. ​ Short Term Investments and Commercial Paper ​ As of March 31, 2020 and December 31, 2019, these asset classes consisted of short term foreign and US corporate bonds, equity securities, and commercial paper. Corporate bonds and commercial paper are classified within Level 2 of the fair value hierarchy because the fair value is based on observable market data. Equity securities are classified within Level 1 because fair value is based on quoted market prices in active markets for identical assets. The Company held equity securities with a fair value of $0.1 million and $0.2 million at March 31, 2020 and December 31, 2019, respectively. Net income includes $0.1 million of losses for the quarter ended March 31, 2020. No gain or loss was recorded in the quarter ended March 31, 2019 ​ Other Investments ​ In the first quarter of 2019, the Company made an investment in an early-stage venture through the acquisition of a convertible debt instrument. The Company elected to fair value the investment upon acquisition. At March 31, 2020, the fair value of the investment was $10.5 million and the Company recorded $0.3 million of income in the quarter ended March 31, 2020 from changes in the fair value of the investment. The asset is classified within Level 3 of the fair value hierarchy. The Company used the income approach to fair value the investment and the inputs consisted of a discount rate calculated based on the investment attributes and the probability of potential future scenarios occurring. ​ In the third quarter of 2019, the Company made a $14.4 million investment in a renewable energy partnership. The Company received an investment tax credit of $12.0 million from its equity method investment and will receive future cash distributions from the partnership’s operations. The Company elected the deferral method to account for the credit and elected the fair value option for the equity method investment. The Company’s investment had a fair value of $2.5 million at March 31, 2020, unchanged from December 31, 2019. The asset is classified within Level 3 of the fair value hierarchy. The Company used the income approach to fair value the investment and the inputs consisted of a discount rate and future cash flows calculated based on the investment attributes. The Company also holds investments in equity securities consisting of non-controlling investment in privately held companies. These investments, over which the Company does not have the ability to exercise significant influence, are without readily determinable fair values. The investments are measured at cost, less any impairment, adjusted for observable price changes of similar investments of the same issuer. Fair value is not estimated for these investments if there are no identified events or changes in circumstances that may have an effect on the fair value of the investment. The carrying value of the strategic investments was $2.1 million at March 31, 2020 and December 31, 2019. These investments are included with other assets on the consolidated balance sheets. Equity Method Investments In the first quarter of 2020, the Company increased its ownership in one investment of a privately held company to approximately 24% of the outstanding equity through an additional $2.8 million investment. With this investment the Company obtained the ability to exercise significant influence over the investee and will begin accounting for the investment under the equity method of accounting recording its share of the investee’s earnings or losses. The carrying value of the investment was million at March 31, 2020. The value increased million. The investment is included with other assets on the consolidated balance sheets. 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 the interest rate swap is measured using Level 2 inputs. During the three months ended March 31, 2020, the Company recorded $0.2 million of loss for changes in fair value of investment. The fair value of long-term debt is estimated using Level 2 inputs. At March 31, 2020, the fair value of long-term debt, including the current portion, was million. At December 31, 2019, the fair value of long-term debt, including the current portion, was

LONG-TERM DEBT

LONG-TERM DEBT	3 Months Ended
	Mar. 31, 2020
LONG-TERM DEBT
LONG-TERM DEBT	8. LONG-TERM DEBT ​ On April 10, 2019, the Company entered into the 2019 Credit Facility, with CoBank, ACB and a syndicate of other lenders. The 2019 Credit Facility provides for a $200 million revolving credit facility that includes (i) up to $75 million for standby or trade letters of credit and (ii) up to $10 million under a swingline sub-facility. Approximately $10.8 million of performance and standby letters of credit have been issued and remain outstanding and undrawn as of March 31, 2020. The 2019 Credit Facility matures on April 10, 2024. ​ Amounts borrowed under the 2019 Credit Facility bear interest at a rate equal to, at the Company’s option, either (i) the London Interbank Offered Rate (“LIBOR”) plus an applicable margin ranging between 1.25% to 2.25% or (ii) a base rate plus an applicable margin ranging from 0.25% to 1.25%. Swingline loans 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 LIBOR for an interest period of one month and (y) the LIBOR for an interest period of one week; (ii) the Federal Funds Effective Rate (as defined in the 2019 Credit Facility) plus 0.50% per annum; and (iii) the Prime Rate (as defined in the 2019 Credit Facility). The applicable margin is determined based on the Total Net Leverage Ratio (as defined in the 2019 Credit Facility). Under the terms of the 2019 Credit Facility, we must also pay a fee ranging from 0.150% to 0.375% of the average daily unused portion of the 2019 Credit Facility over each calendar quarter. The 2019 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 limiting additional indebtedness, liens, guaranties, mergers and consolidations, substantial asset sales, investments and loans, sale and leasebacks, transactions with affiliates and fundamental changes. The Company’s investments in “unrestricted” subsidiaries and certain dividend payments to the Company’s stockholders are not limited unless the Total Net Leverage Ratio is equal to or greater than 1.75 to 1.0. The Total Net Leverage Ratio is measured each fiscal quarter and is required to be less than or equal to 2.75 to 1.0. In the event of a Qualifying Acquisition (as defined in the 2019 Credit Facility), the Total Net Leverage Ratio increases to 3.25 to 1.0 for the subsequent three fiscal quarters. ​ The 2019 Credit Facility also provides for the incurrence by the Company of incremental term loan facilities, when combined with increases to revolving loan commitments, in an aggregate amount not to exceed $200 million (the “Accordion”). Amounts borrowed under the Accordion are also subject to proforma compliance with a net leverage ratio financial covenant. ​ As of March 31, 2020, the Company was in compliance with all of the financial covenants, had no outstanding borrowings and, net of the $10.8 million of outstanding performance and standby letters of credit, had $189.2 million of availability under the 2019 Credit Facility. ​ FirstNet Receivables Credit Facility ​ On March 26, 2020, Commnet Finance, a wholly owned subsidiary of Commnet Wireless, entered into a Receivables Credit Facility with the Company, Commnet Wireless, CoBank and ACB. The Receivables Credit Facility provides for a senior secured delayed draw term loan in an aggregate principal amount of up to $75 million and the proceeds may be used to acquire certain receivables from Commnet Wireless. The receivables to be financed and sold under the Receivables Credit Agreement relate to the obligations of AT&T under the FirstNet Agreement. The delayed draw period will expire on December 31, 2021. ​ The maturity date for each loan will be set by CoBank and will match the weighted average maturity of the certain receivables financed. ​ Interest on the loans accrues at a rate based on (i) the LIBOR plus 2.50%, (ii) a base rate plus 1.50% or (iii) a fixed annual interest rate to be quoted by CoBank The Receivables Credit Agreement contains customary events of termination, representations and warranties, affirmative and negative covenants and events of default customary for facilities of this type. Viya Debt ​ The Company, and certain of its subsidiaries, have entered into a $60.0 million loan agreement with Rural Telephone Finance Cooperative (“RTFC” and such debt, the “Viya Debt”). The Viya Debt agreement contains customary representations, warranties and affirmative and negative covenants (including limitations on additional debt, guaranties, sale of assets and liens) and a financial covenant that limits the maximum ratio of indebtedness to annual operating cash flow to 3.5 to 1.0 (the “Net Leverage Ratio”). This covenant is tested on an annual basis at the end of each fiscal year. Interest is paid quarterly at a fixed rate of 4.0% and principal repayment is not required until maturity on July 1, 2026. Prepayment of the Viya Debt may be subject to a fee under certain circumstances. The debt is secured by certain assets of the Company’s Viya subsidiaries and is guaranteed by the Company. With RTFC’s consent, the Company funded the restoration of Viya’s network, following the Hurricanes, through an intercompany loan arrangement with a ​ The Company paid a fee of $0.9 million in 2016 to lock the interest rate at 4% per annum over the term of the Viya Debt. The fee was recorded as a reduction to the Viya Debt carrying amount and is being amortized over the life of the loan. ​ As of March 31, 2020, $60.0 million of the Viya Debt remained outstanding and $0.6 million of the rate lock fee was unamortized. ​ One Communications Debt ​ The Company has an outstanding loan from HSBC Bank Bermuda Limited (the “One Communications Debt”) which is scheduled to mature on May 22, 2022 and bears interest at the one-month LIBOR plus a margin ranging between 2.5% to 2.75%, paid quarterly. ​ The One Communications Debt contains customary representations, warranties and affirmative and negative covenants (including limitations on additional debt, guaranties, sale of assets and liens) and financial covenants, tested annually, that limit the ratio of tangible net worth to long term debt and total net debt to EBITDA and require a minimum debt service coverage ratio (as defined in the One Communications Debt agreement). The Company was in compliance with its covenants as of March 31, 2020. As a condition of the One Communications Debt, the Company was required to enter into a hedging arrangement with a notional amount equal to at least 30% of the outstanding loan balance and a term corresponding to the term of the One Communications Debt. As such, the Company entered into an amortizing interest rate swap that has been designated as a cash flow hedge, which had an original notional amount of $11.0 million, has an interest rate of 1.874%, and expires in March 2022. As of March 31, 2020, the swap has an unamortized notional amount of $8.2 million. The Company capitalized $0.3 million of fees associated with the One Communications Debt which are being amortized over the life of the debt and are recorded as a reduction to the debt carrying amount. As of March 31, 2020, $26.2 million of the One Communications Debt was outstanding and $0.1 million of the capitalized fees remained unamortized.

GOVERNMENT GRANTS

GOVERNMENT GRANTS	3 Months Ended
	Mar. 31, 2020
GOVERNMENT GRANTS
GOVERNMENT GRANTS	9. GOVERNMENT GRANTS ​ programs: the High Cost Program; Low Income Program (“Lifeline Program”); Schools and Libraries Program (“E-Rate Program”); and Rural Health Care Program. The Company participates in the High Cost Program, Lifeline Program, E-Rate Programs, and Rural Health Care Support Program as further described below. All of these funding programs are subject to certain operational and reporting compliance requirements. The Company believes it is in compliance with all applicable requirements. ​ The FCC’s Mobility Funds and Connect America Funds are administered through the High Cost Program. The High Cost Program subsidizes telecommunications services in rural and remote areas. The FCC created the Phase I Mobility Fund (“Phase I Mobility Fund”), a one-time award meant to support wireless coverage in underserved geographic areas in the United States. ​ The Company received $21.1 million of Phase I Mobility Fund support to its wholesale wireless business (the “Mobility Funds”) to be used to expand voice and broadband networks in certain geographic areas in order to offer either 3G or 4G service. Of these funds, 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. The remaining million received offset operating expenses from inception of the program through part of the third quarter of 2018. The Mobility Funds projects and their operating results are included within the Company’s US Telecom segment. As part of the receipt of the Mobility Funds, the Company committed to comply with certain additional FCC construction and other requirements. If the requirements are not met the funds may be subject to claw back provisions. The Company currently expects to comply with all applicable requirements related to these funds. ​ During each of the three month periods ended March 31, 2020 and 2019, the Company recorded $4.1 million of revenue from the High Cost Program in its International Telecom segment. Also, during each of the three month periods ended March 31, 2020 and 2019, the Company recorded million of High Cost Program revenue in its US Telecom segment. The Company is subject to certain operational, reporting and construction requirements as a result of this funding, and the Company believes that it is in compliance with all of these requirements. ​ In August 2018, the Company was awarded $79.9 million over 10 years under the Connect America Fund Phase II Auction. The funding began in the second quarter of 2019 and the Company is required to provide fixed broadband and voice services to certain eligible areas in the United States. The Company is subject to operational and reporting requirements under the program and the Company expects to incur additional capital expenditures to comply with these requirements. The Company determined the award is a revenue grant, and as a result the Company will record the funding as revenue upon receipt. The Company recorded million of revenue in the three months ended March 31, 2020 from the Connect America Fund Phase II program. ​ Once these projects are constructed the Company is obligated to provide service to the E-Rate Program participants. The Company receives funds upon construction completion and is in various stages of constructing the networks. During 2019, the Company received million offset operating activities. The Company expects to meet all requirements associated with these grants. ​ The Company also receives funding to provide discounted telecommunication services to eligible customers under the E-Rate Program, Lifeline Program, and Rural Health Care Support Program. During the three months ended March 31, 2020 and 2019, the Company recorded revenue of million, respectively, in the aggregate from these programs. The Company is subject to certain operational and reporting requirements under the above mentioned programs and it believes that it is in compliance with all of these requirements. ​ Tribal Bidding Credit ​ As part of the broadcast television spectrum incentive auction, the FCC implemented a tribal lands bidding credit to encourage deployment of wireless services utilizing 600 MHz spectrum on the lands of federally recognized tribes. The Company received a bidding credit of $7.4 million under this program in 2018. A portion of these funds will be used to offset network capital costs and a portion will be used to offset the costs of supporting the networks. The Company’s current estimate is that it will use $5.4 million to offset capital costs and, consequently, reduce future depreciation expense and $2.0 million to offset the cost of supporting the network which will reduce future operating expense. The credits are subject to certain requirements, including deploying service by January 2021 and meeting minimum coverage metrics. If the requirements are not met the funds may be subject to claw back provisions. The Company currently expects to comply with all applicable requirements related to these funds. ​

RETIREMENT PLANS

RETIREMENT PLANS	3 Months Ended
	Mar. 31, 2020
RETIREMENT PLANS
RETIREMENT PLANS	10. RETIREMENT PLANS ​ The Company has noncontributory defined benefit pension and noncontributory defined medical, dental, vision, and life benefit plans for eligible employees in its International Telecom segment who meet certain eligibility criteria. The Company recorded the net periodic benefit cost identified below (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ ​ March 31, 2020 March 31, 2019 ​ ​ ​ Pension benefits ​ Postretirement benefits ​ Pension benefits ​ Postretirement benefits ​ Operating expense ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Service cost ​ $ 423 ​ $ 32 ​ $ 447 ​ $ 37 ​ Non-operating expense ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest cost ​ ​ 879 ​ ​ 45 ​ ​ 841 ​ ​ 40 ​ Expected return on plan assets ​ (1,158) ​ — ​ (1,263) ​ — ​ Actuarial gain/ loss ​ ​ (7) ​ ​ (15) ​ ​ 7 ​ ​ (17) ​ Net periodic pension expense ​ $ 137 ​ $ 62 ​ $ 32 ​ $ 60 ​ ​ In the first quarter of 2020, the Company began the process of winding up one of its pension plans. At December 31, 2019 this plan had assets of $15.1 million and a projected benefit obligation of $15.6 million. ​ The Company is not required to make contributions to its pension and postretirement benefit plans. However, the Company periodically evaluates whether to make discretionary contributions. The Company funds its postretirement benefit plans as claims are made and did make contributions during either of the three months ended March 31, 2020 or 2019. ​

INCOME TAXES

INCOME TAXES	3 Months Ended
	Mar. 31, 2020
INCOME TAXES
INCOME TAXES	11. INCOME TAXES ​ The Company’s effective tax rate for the three months ended March 31, 2020 and 2019 was 31.8% and 62.3% , respectively. ​ On March 27, 2020, the U.S. federal government enacted the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”). The CARES Act, among other things, allows NOLs incurred in 2018, 2019, and 2020 to be carried back to each of the five preceding taxable years to generate a refund of previously paid income taxes. ​ The effective tax rate for the three months ended March 31, 2020 was primarily impacted by the following items: (i) the remeasurement of a forecasted domestic loss at a higher tax rate due to carryback provisions as provided by the CARES Act, (ii) the mix of income generated among the jurisdictions in which the Company operates along with the exclusion of losses in the US Virgin Islands and India where the Company cannot benefit from those losses as required by ASC 740-270-30-36(a), (iii) discrete items including a $0.5 million expense for interest on unrecognized tax positions, a $0.4 million expense to record a valuation allowance against an investment write-down which cannot be benefitted for tax purposes, and a $0.3 million benefit (net) related to the remeasurement of existing losses and temporary differences at a higher tax rate due to carryback provisions as provided by the CARES Act. ​ The effective tax rate for the three months ended March 31, 2019 was primarily impacted by the following items: (i) a $0.5 million net increase of unrecognized tax positions recognized discretely, (ii) a million provision for stock compensation recognized discretely, and (iii) the mix of income generated among the jurisdictions in which the Company operates along with the exclusion of losses in jurisdictions where the Company cannot benefit from those losses as required by ASC 740-270-30-36(a), in the US Virgin Islands. ​ The Company’s effective tax rate is based upon estimated income before provision for income taxes for the year, composition of the income in different countries, and adjustments, if any, in the applicable quarterly periods for potential tax consequences, benefits and/or resolutions of tax contingencies. The Company’s consolidated tax rate will continue to be impacted by any transactional or one-time items in the future and the mix of income in any given year generated among the jurisdictions in which the Company operates. While the Company believes it has adequately provided for all tax positions, amounts asserted by taxing authorities could materially differ from the Company’s accrued positions as a result of uncertain and complex application of tax laws and regulations. Additionally, the recognition and measurement of certain tax benefits include estimates and judgments by management. Accordingly, the Company could record additional provisions or benefits for US federal, state, and foreign tax matters in future periods as new information becomes available. ​

NET INCOME (LOSS) PER SHARE

NET INCOME (LOSS) PER SHARE	3 Months Ended
	Mar. 31, 2020
NET INCOME (LOSS) PER SHARE
NET INCOME (LOSS) PER SHARE	12. NET INCOME (LOSS) PER SHARE ​ For the three months ended March 31, 2020 and 2019, the calculation of basic and diluted weighted average shares of common stock outstanding do not include 5,000 shares and 42,000 shares, respectively, relating to stock options as the effects of those options were anti-dilutive. ​ ​

SEGMENT REPORTING

SEGMENT REPORTING	3 Months Ended
	Mar. 31, 2020
SEGMENT REPORTING
SEGMENT REPORTING	13. SEGMENT REPORTING ​ The Company has the following three reportable and operating segments: i) International Telecom, ii) US Telecom, and iii) Renewable Energy. ​ The following tables provide information for each operating segment (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the Three Months Ended March 31, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ International ​ US ​ Renewable ​ Corporate and ​ ​ ​ ​ ​ Telecom ​ Telecom ​ Energy ​ Other (1) ​ Consolidated Revenue ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Communication Services ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Mobility ​ $ 19,667 ​ $ 4,125 ​ $ — ​ $ — ​ $ 23,792 Fixed ​ ​ 58,149 ​ 3,103 ​ — ​ — ​ 61,252 Carrier Services ​ ​ 2,573 ​ ​ 20,063 ​ ​ — ​ ​ — ​ ​ 22,636 Other ​ 216 ​ ​ — ​ ​ — ​ ​ — ​ ​ 216 Total Communication Services Revenue ​ 80,605 ​ ​ 27,291 ​ ​ — ​ ​ — ​ ​ 107,896 Other ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Renewable Energy ​ ​ — ​ ​ — ​ ​ 1,322 ​ ​ — ​ ​ 1,322 Managed Services ​ ​ 1,679 ​ ​ 8 ​ ​ — ​ ​ — ​ ​ 1,687 Total Other Revenue ​ ​ 1,679 ​ ​ 8 ​ ​ 1,322 ​ ​ — ​ ​ 3,009 Total Revenue ​ ​ 82,284 ​ ​ 27,299 ​ ​ 1,322 ​ ​ — ​ ​ 110,905 Depreciation and amortization ​ 14,315 ​ ​ 5,886 ​ ​ 614 ​ ​ 1,703 ​ 22,518 Non-cash stock-based compensation ​ (37) ​ ​ — ​ ​ — ​ ​ 1,197 ​ 1,160 Operating income (loss) ​ 13,477 ​ ​ 2,193 ​ ​ (456) ​ ​ (7,915) ​ 7,299 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the Three Months Ended March 31, 2019 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ International ​ US ​ Renewable ​ Corporate and ​ ​ ​ ​ ​ Telecom ​ Telecom ​ Energy ​ Other (1) ​ Consolidated Revenue ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Communication Services ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Mobility ​ $ 19,755 ​ $ 3,909 ​ $ — ​ $ — ​ $ 23,664 Fixed ​ ​ 56,694 ​ 763 ​ — ​ — ​ 57,457 Carrier Services ​ ​ 2,471 ​ ​ 16,686 ​ ​ — ​ ​ — ​ ​ 19,157 Other ​ 187 ​ ​ — ​ ​ — ​ ​ — ​ ​ 187 Total Communication Services Revenue ​ 79,107 ​ ​ 21,358 ​ ​ — ​ ​ — ​ ​ 100,465 Other ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Renewable Energy ​ ​ — ​ ​ — ​ ​ 1,490 ​ ​ — ​ ​ 1,490 Managed Services ​ ​ 1,210 ​ ​ 135 ​ ​ — ​ ​ — ​ ​ 1,345 Total Other Revenue ​ ​ 1,210 ​ ​ 135 ​ ​ 1,490 ​ ​ — ​ ​ 2,835 Total Revenue ​ ​ 80,317 ​ ​ 21,493 ​ ​ 1,490 ​ ​ — ​ ​ 103,300 Depreciation and amortization ​ 13,015 ​ 5,598 ​ 616 ​ 1,489 ​ 20,718 Non-cash stock-based compensation ​ 11 ​ — ​ — ​ 1,290 ​ 1,301 Operating income (loss) ​ 13,878 ​ (3,506) ​ (203) ​ (8,055) ​ 2,114 ​ (1) Corporate and Other items refer to corporate overhead costs and consolidating adjustments Selected balance sheet data for each of the Company’s segments as of March 31, 2020 and December 31, 2019 consists of the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ International ​ US ​ Renewable ​ Corporate and ​ ​ ​ ​ ​ Telecom ​ Telecom ​ Energy ​ Other (1) ​ Consolidated March 31, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash, Cash equivalents, and Investments ​ $ 48,222 ​ $ 36,052 ​ $ 23,858 ​ $ 37,885 ​ $ 146,017 Total current assets ​ ​ 95,764 ​ ​ 61,191 ​ ​ 26,455 ​ ​ 51,932 ​ ​ 235,342 Fixed assets, net ​ ​ 462,275 ​ ​ 64,710 ​ ​ 45,233 ​ ​ 20,709 ​ ​ 592,927 Goodwill ​ 25,421 ​ 35,270 ​ — ​ — ​ ​ 60,691 Total assets ​ 645,987 ​ 224,363 ​ 72,405 ​ 165,837 ​ ​ 1,108,592 Total current liabilities ​ ​ 71,129 ​ ​ 26,910 ​ ​ 1,660 ​ ​ 13,745 ​ ​ 113,444 Total debt ​ ​ 85,525 ​ ​ — ​ ​ — ​ ​ — ​ ​ 85,525 December 31, 2019 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash, Cash equivalents, and Investments ​ $ 43,125 ​ $ 38,240 ​ $ 25,054 ​ $ 55,284 ​ $ 161,703 Total current assets ​ ​ 91,497 ​ ​ 54,207 ​ ​ 27,534 ​ ​ 55,485 ​ ​ 228,723 Fixed assets, net ​ ​ 466,523 ​ ​ 69,184 ​ ​ 48,421 ​ ​ 21,453 ​ ​ 605,581 Goodwill ​ 25,421 ​ 35,270 ​ — ​ — ​ ​ 60,691 Total assets ​ 647,228 ​ 222,356 ​ 76,723 ​ 184,419 ​ ​ 1,130,726 Total current liabilities ​ ​ 77,644 ​ ​ 24,905 ​ ​ 2,745 ​ ​ 14,375 ​ ​ 119,669 Total debt ​ ​ 86,426 ​ ​ — ​ ​ — ​ ​ — ​ ​ 86,426 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Capital Expenditures ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ International ​ ​ US ​ ​ Renewable ​ ​ Corporate and ​ ​ ​ Three months ended March 31, ​ ​ Telecom (2) ​ ​ Telecom ​ ​ Energy ​ ​ Other (1) ​ ​ Consolidated 2020 ​ $ 10,465 ​ $ 1,972 ​ $ 720 ​ $ 904 ​ $ 14,061 2019 ​ ​ 11,356 ​ ​ 3,075 ​ ​ 609 ​ ​ 2,724 ​ ​ 17,764 ​ (1) Corporate and other items refer to corporate overhead costs and consolidating adjustments ​ (2) Includes $0.1 million for the three months ended March 31, 2019 of expenditures used for network repairs and resiliency enhancements in the US Virgin Islands following the impact of the Hurricanes..

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
	Mar. 31, 2020
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES	14. 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. ​ 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, and on August 5, 2016, the legislation was signed into law that introduces material changes to many features of Guyana’s existing telecommunications regulatory regime with the intention of creating a more competitive market. The legislation does not 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, including the issuance of competing licenses. The Company cannot predict the manner in which or when the legislation will be implemented by the Minister of Telecommunications. ​ In January 2019 the Government of Guyana and the Company met to discuss modifications of the Company’s exclusivity rights and other rights under its existing agreement and license. In early March 2020, Guyana held an election the results of which were disputed and to date, no winner of the election has been formally declared. There can be no assurance that our discussions with the Government will resume or be concluded once the elections are determined, or that such discussions will satisfactorily address the Company’s 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 long-standing litigation proceedings and disputes in Guyana that have not yet been resolved. 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 operations 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 NFMU’s continued opinion that the final calculation for 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 another communications provider that outlined a recommended methodology for the calculation of these fees. The NFMU stated that it would prepare its own recommendation for consideration by the Minister of Telecommunications, who would decide the matter. GTT has paid undisputed spectrum fees according to the methodology used for its 2011 payments, and has reserved amounts payable according to this methodology. There have been limited further discussions on this subject and GTT has not had the opportunity to review any recommendation made by the NFMU to the Minister. ​ On May 8, 2009, a GTT competitor, Digicel, filed a lawsuit in Guyana challenging the legality of GTT’s exclusive license rights under Guyana’s constitution and GTT intervened in the suit in order to oppose Digicel’s claims. The case remains 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 defend vigorously against such 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 injunctive relief to stop the illegal bypass activity and money damages. Digicel filed counterclaims alleging that GTT has violated the terms of the interconnection agreement and Guyana laws. These suits, in 2010 and 2012, have been consolidated Digicel’s constitutional challenge described above. Prior to the declaration of COVID-19 related travel and business restrictions in Guyana, the consolidated cases were scheduled to proceed to in 2020 . ​ 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. The Company maintains that any liability GTT might be found to have with respect to the disputed tax assessments, totaling $44.1 million, would be offset in part by the 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 March 31, 2020 for these matters.

BASIS OF PRESENTATION (Policies

BASIS OF PRESENTATION (Policies)	3 Months Ended
	Mar. 31, 2020
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
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 Annual Report on Form 10-K for the year ended December 31, 2019, filed with the SEC on March 2, 2020, ​ The condensed consolidated financial statements include the accounts of the Company, its subsidiaries in which the Company holds controlling interests 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. ​ Presentation of Revenue ​ The Company has changed its presentation of revenue in the Condensed Consolidated Statement of Operations and in the Selected Segment Financial Information tables. This change is intended to better align the Company’s financial performance with industry competitors and to facilitate a more constructive dialogue with the investment community. ​ Specifically, the previously disclosed revenue categories of wireless and wireline revenue are being represented as mobility, fixed and Carrier Services revenue within the Company’s segment information and are included within communications services revenue within its Statements of Operations. Managed services revenue, which was previously a component of wireline revenue, is now included in other revenue along with revenue from the Company’s Renewable Energy operations. ​
Recent Accounting Pronouncements	Recent Accounting Pronouncements In February 2016, the FASB issued ASU 2016-02, “Leases (Topic 842)” and subsequently issued related updates (“ASU 2016-02”), which provide 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 became effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018, with early adoption permitted. The Company adopted ASC 2016-02 on January 1, 2019 utilizing the optional transition method with a cumulative adjustment on the date of adoption and not adjusting prior periods. Refer to Note 4 of the Condensed Consolidated Financial Statements. ​ In August 2017, the FASB issued ASU 2017-12, “Derivatives and Hedging (Topic 815) – Targeted Improvements to Accounting for Hedging Activities” (“ASU 2017-12”). The standard: (a) expands and refines hedge accounting for both financial and non-financial risk components, (b) aligns the recognition and presentation of the effects of hedging instruments and hedge items in the financial statements, and (c) includes certain targeted improvements to ease the application of current guidance related to the assessment of hedge effectiveness. The guidance is effective for public business entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018. The Company adopted this standard on January 1, 2019. There was not a material impact to the Company’s Consolidated Financial Statements upon adoption. ​ In June 2016, the FASB issued ASU 2016-13, “Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments” (“ASU 2016-13”). ASU 2016-13 requires entities to use a new forward-looking, expected loss model to estimate credit losses. It also requires additional disclosure relating to the credit quality of trade and other receivables, including information relating to management’s estimate of credit allowances. The Company adopted ASU 2016-13 using the modified retrospective approach on its January 1, 2020 effective date. Refer to Note 3 of the Condensed Consolidated Financial Statements in this Report.

ORGANIZATION AND BUSINESS OPE_2

ORGANIZATION AND BUSINESS OPERATIONS (Tables)	3 Months Ended
	Mar. 31, 2020
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	​ ​ ​ ​ ​ ​ ​ ​ ​ Segment Services Markets Tradenames International Telecom Mobility Bermuda, Guyana, US Virgin Islands GTT+, One, Logic, Viya ​ ​ Fixed Bermuda, Cayman Islands, Guyana, US Virgin Islands GTT+, One, Logic, Viya ​ ​ ​ Carrier Services ​ Bermuda, Guyana, US Virgin Islands ​ GTT+, One, Logic, Viya ​ ​ ​ Managed Services ​ Bermuda, US Virgin Islands ​ Fireminds, One, Logic, Viya ​ US Telecom Mobility United States (rural markets) Choice, Choice NTUA Wireless, Commnet, WestNet, Geoverse ​ ​ ​ Fixed ​ United States ​ Commnet, Choice, Choice NTUA Wireless, Deploycom, WestNet ​ ​ ​ Carrier Services ​ ​ ​ Commnet, Essextel ​ ​ Managed Services ​ Choice ​ Renewable Energy ​ Solar ​ India ​ Vibrant Energy ​

REVENUE RECOGNITION AND RECEI_2

REVENUE RECOGNITION AND RECEIVABLES (Tables)	3 Months Ended
	Mar. 31, 2020
REVENUE RECOGNITION AND RECEIVABLES
Summary of contracts asset and liabilities	Contract assets and liabilities consisted of the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2020 ​ December 31, 2019 ​ ​ $ Change ​ % Change Contract asset – current $ 2,375 ​ $ 2,413 ​ $ (38) ​ (2) % Contract asset – noncurrent ​ 816 ​ ​ 905 ​ ​ (89) ​ (10) % Contract liability – current ​ (19,371) ​ ​ (15,044) ​ ​ (4,327) ​ 29 % Contract liability – noncurrent ​ (5,193) ​ ​ (5,450) ​ ​ 257 ​ (5) % Net contract liability $ (21,373) ​ $ (17,176) ​ $ (4,197) ​ 24 %
Schedule of activity in allowances for credit losses	​ ​ ​ ​ ​ ​ Three months ended March 31, 2020 ​ ​ ​ ​ Balance at January 1, 2020 $ 12,724 Current period provision for expected losses ​ 1,260 Write-offs charged against the allowance ​ (1,525) Recoveries collected ​ ​ 208 Balance at March 31, 2020 ​ $ 12,667

LEASES (Tables)

LEASES (Tables)	3 Months Ended
	Mar. 31, 2020
LEASES
Summary of components of lease expense	The components of lease expense were as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended March 31, 2020 ​ Three months ended March 31, 2019 Operating lease cost: ​ ​ ​ ​ ​ Operating lease cost $ 4,047 ​ $ 3,516 Short-term lease cost ​ 543 ​ ​ 713 Variable lease cost ​ 803 ​ ​ 961 Total operating lease cost $ 5,393 ​ $ 5,190 ​ ​ ​ ​ ​ ​ Finance lease cost: ​ ​ ​ ​ ​ Amortization of right-of-use asset $ 571 ​ $ 593 Variable costs ​ 272 ​ ​ 296 Total finance lease cost $ 843 ​ $ 889
Summary of weighted-average remaining lease term and discount rate	The weighted average remaining lease terms and discount rates as of March 31, 2020 and December 31, 2019 are noted in the table below: ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2020 ​ December 31, 2019 Weighted-average remaining lease term ​ ​ ​ ​ ​ Operating leases ​ 6.4 years ​ ​ 6.5 years Financing leases ​ 11.7 years ​ ​ 11.7 years ​ ​ ​ ​ ​ ​ Weighted-average discount rate ​ ​ ​ ​ ​ Operating leases ​ 5.1% ​ ​ 5.0% Financing leases ​ n/a ​ ​ n/a
Summary of maturities of lease liabilities	Maturities of lease liabilities as of March 31, 2020 were as follows (in thousands): ​ ​ ​ ​ ​ Operating Leases 2020 (excluding the three months ended March 31, 2020) $ 11,097 2021 ​ 13,748 2022 ​ 12,773 2023 ​ 10,561 2024 ​ 9,532 Thereafter ​ 18,572 Total lease payments ​ 76,283 Less imputed interest ​ (11,384) Total $ 64,899 ​ ​ ​ ​ ​ ​ Operating Leases 2020 $ 14,526 2021 ​ 13,714 2022 ​ 12,787 2023 ​ 10,713 2024 ​ 9,671 Thereafter ​ 18,355 Total lease payments ​ 79,766 Less imputed interest ​ (12,195) Total $ 67,571

FAIR VALUE MEASUREMENTS AND I_2

FAIR VALUE MEASUREMENTS AND INVESTMENTS (Tables)	3 Months Ended
	Mar. 31, 2020
FAIR VALUE MEASUREMENTS AND INVESTMENTS
Schedule of assets and liabilities of the entity measured at fair value on a recurring basis	Assets and liabilities of the Company measured at fair value on a recurring basis as of March 31, 2020 and December 31, 2019 are summarized as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2020 ​ ​ Significant Other ​ ​ Quoted Prices in ​ Observable ​ Unobservable ​ ​ ​ ​ ​ Active Markets ​ Inputs ​ Inputs ​ ​ ​ Description ​ (Level 1) ​ (Level 2) ​ (Level 3) ​ Total Certificates of deposit ​ $ — ​ $ 380 ​ $ — ​ $ 380 Money market funds ​ ​ 2,028 ​ ​ — ​ ​ — ​ ​ 2,028 Short term investments ​ ​ 104 ​ ​ — ​ ​ — ​ ​ 104 Other investments ​ ​ — ​ ​ — ​ ​ 12,996 ​ ​ 12,996 Interest rate swap ​ ​ — ​ ​ (232) ​ ​ — ​ ​ (232) Total assets and liabilities measured at fair value ​ $ 2,132 ​ $ 148 ​ $ 12,996 ​ $ 15,276 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2019 ​ ​ Significant Other ​ ​ ​ Quoted Prices in ​ Observable ​ Unobservable ​ ​ ​ ​ ​ ​ Active Markets ​ Inputs ​ Inputs ​ ​ ​ ​ Description ​ (Level 1) ​ (Level 2) ​ (Level 3) ​ Total Certificates of deposit ​ $ — ​ $ 380 ​ $ — ​ $ 380 ​ Money market funds ​ ​ 2,329 ​ ​ — ​ ​ — ​ ​ 2,329 ​ Short term investments ​ ​ 416 ​ ​ — ​ ​ — ​ ​ 416 ​ Other investments ​ ​ — ​ ​ — ​ ​ 12,700 ​ ​ 12,700 ​ Interest rate swap ​ ​ — ​ ​ (56) ​ ​ — ​ ​ (56) ​ Total assets and liabilities measured at fair value ​ $ 2,745 ​ $ 324 ​ $ 12,700 ​ $ 15,769 ​

RETIREMENT PLANS (Tables)

RETIREMENT PLANS (Tables)	3 Months Ended
	Mar. 31, 2020
RETIREMENT PLANS
Schedule of components of the plan's net periodic pension cost	The Company recorded the net periodic benefit cost identified below (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ ​ March 31, 2020 March 31, 2019 ​ ​ ​ Pension benefits ​ Postretirement benefits ​ Pension benefits ​ Postretirement benefits ​ Operating expense ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Service cost ​ $ 423 ​ $ 32 ​ $ 447 ​ $ 37 ​ Non-operating expense ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest cost ​ ​ 879 ​ ​ 45 ​ ​ 841 ​ ​ 40 ​ Expected return on plan assets ​ (1,158) ​ — ​ (1,263) ​ — ​ Actuarial gain/ loss ​ ​ (7) ​ ​ (15) ​ ​ 7 ​ ​ (17) ​ Net periodic pension expense ​ $ 137 ​ $ 62 ​ $ 32 ​ $ 60 ​

SEGMENT REPORTING (Tables)

SEGMENT REPORTING (Tables)	3 Months Ended
	Mar. 31, 2020
SEGMENT REPORTING
Schedule of information for each operating segment	The following tables provide information for each operating segment (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the Three Months Ended March 31, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ International ​ US ​ Renewable ​ Corporate and ​ ​ ​ ​ ​ Telecom ​ Telecom ​ Energy ​ Other (1) ​ Consolidated Revenue ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Communication Services ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Mobility ​ $ 19,667 ​ $ 4,125 ​ $ — ​ $ — ​ $ 23,792 Fixed ​ ​ 58,149 ​ 3,103 ​ — ​ — ​ 61,252 Carrier Services ​ ​ 2,573 ​ ​ 20,063 ​ ​ — ​ ​ — ​ ​ 22,636 Other ​ 216 ​ ​ — ​ ​ — ​ ​ — ​ ​ 216 Total Communication Services Revenue ​ 80,605 ​ ​ 27,291 ​ ​ — ​ ​ — ​ ​ 107,896 Other ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Renewable Energy ​ ​ — ​ ​ — ​ ​ 1,322 ​ ​ — ​ ​ 1,322 Managed Services ​ ​ 1,679 ​ ​ 8 ​ ​ — ​ ​ — ​ ​ 1,687 Total Other Revenue ​ ​ 1,679 ​ ​ 8 ​ ​ 1,322 ​ ​ — ​ ​ 3,009 Total Revenue ​ ​ 82,284 ​ ​ 27,299 ​ ​ 1,322 ​ ​ — ​ ​ 110,905 Depreciation and amortization ​ 14,315 ​ ​ 5,886 ​ ​ 614 ​ ​ 1,703 ​ 22,518 Non-cash stock-based compensation ​ (37) ​ ​ — ​ ​ — ​ ​ 1,197 ​ 1,160 Operating income (loss) ​ 13,477 ​ ​ 2,193 ​ ​ (456) ​ ​ (7,915) ​ 7,299 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the Three Months Ended March 31, 2019 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ International ​ US ​ Renewable ​ Corporate and ​ ​ ​ ​ ​ Telecom ​ Telecom ​ Energy ​ Other (1) ​ Consolidated Revenue ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Communication Services ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Mobility ​ $ 19,755 ​ $ 3,909 ​ $ — ​ $ — ​ $ 23,664 Fixed ​ ​ 56,694 ​ 763 ​ — ​ — ​ 57,457 Carrier Services ​ ​ 2,471 ​ ​ 16,686 ​ ​ — ​ ​ — ​ ​ 19,157 Other ​ 187 ​ ​ — ​ ​ — ​ ​ — ​ ​ 187 Total Communication Services Revenue ​ 79,107 ​ ​ 21,358 ​ ​ — ​ ​ — ​ ​ 100,465 Other ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Renewable Energy ​ ​ — ​ ​ — ​ ​ 1,490 ​ ​ — ​ ​ 1,490 Managed Services ​ ​ 1,210 ​ ​ 135 ​ ​ — ​ ​ — ​ ​ 1,345 Total Other Revenue ​ ​ 1,210 ​ ​ 135 ​ ​ 1,490 ​ ​ — ​ ​ 2,835 Total Revenue ​ ​ 80,317 ​ ​ 21,493 ​ ​ 1,490 ​ ​ — ​ ​ 103,300 Depreciation and amortization ​ 13,015 ​ 5,598 ​ 616 ​ 1,489 ​ 20,718 Non-cash stock-based compensation ​ 11 ​ — ​ — ​ 1,290 ​ 1,301 Operating income (loss) ​ 13,878 ​ (3,506) ​ (203) ​ (8,055) ​ 2,114 ​ (1) Corporate and Other items refer to corporate overhead costs and consolidating adjustments
Schedule of segment balance sheet data and capital expenditures	Selected balance sheet data for each of the Company’s segments as of March 31, 2020 and December 31, 2019 consists of the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ International ​ US ​ Renewable ​ Corporate and ​ ​ ​ ​ ​ Telecom ​ Telecom ​ Energy ​ Other (1) ​ Consolidated March 31, 2020 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash, Cash equivalents, and Investments ​ $ 48,222 ​ $ 36,052 ​ $ 23,858 ​ $ 37,885 ​ $ 146,017 Total current assets ​ ​ 95,764 ​ ​ 61,191 ​ ​ 26,455 ​ ​ 51,932 ​ ​ 235,342 Fixed assets, net ​ ​ 462,275 ​ ​ 64,710 ​ ​ 45,233 ​ ​ 20,709 ​ ​ 592,927 Goodwill ​ 25,421 ​ 35,270 ​ — ​ — ​ ​ 60,691 Total assets ​ 645,987 ​ 224,363 ​ 72,405 ​ 165,837 ​ ​ 1,108,592 Total current liabilities ​ ​ 71,129 ​ ​ 26,910 ​ ​ 1,660 ​ ​ 13,745 ​ ​ 113,444 Total debt ​ ​ 85,525 ​ ​ — ​ ​ — ​ ​ — ​ ​ 85,525 December 31, 2019 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash, Cash equivalents, and Investments ​ $ 43,125 ​ $ 38,240 ​ $ 25,054 ​ $ 55,284 ​ $ 161,703 Total current assets ​ ​ 91,497 ​ ​ 54,207 ​ ​ 27,534 ​ ​ 55,485 ​ ​ 228,723 Fixed assets, net ​ ​ 466,523 ​ ​ 69,184 ​ ​ 48,421 ​ ​ 21,453 ​ ​ 605,581 Goodwill ​ 25,421 ​ 35,270 ​ — ​ — ​ ​ 60,691 Total assets ​ 647,228 ​ 222,356 ​ 76,723 ​ 184,419 ​ ​ 1,130,726 Total current liabilities ​ ​ 77,644 ​ ​ 24,905 ​ ​ 2,745 ​ ​ 14,375 ​ ​ 119,669 Total debt ​ ​ 86,426 ​ ​ — ​ ​ — ​ ​ — ​ ​ 86,426 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Capital Expenditures ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ International ​ ​ US ​ ​ Renewable ​ ​ Corporate and ​ ​ ​ Three months ended March 31, ​ ​ Telecom (2) ​ ​ Telecom ​ ​ Energy ​ ​ Other (1) ​ ​ Consolidated 2020 ​ $ 10,465 ​ $ 1,972 ​ $ 720 ​ $ 904 ​ $ 14,061 2019 ​ ​ 11,356 ​ ​ 3,075 ​ ​ 609 ​ ​ 2,724 ​ ​ 17,764 ​ (1) Corporate and other items refer to corporate overhead costs and consolidating adjustments ​ (2) Includes $0.1 million for the three months ended March 31, 2019 of expenditures used for network repairs and resiliency enhancements in the US Virgin Islands following the impact of the Hurricanes..

ORGANIZATION AND BUSINESS OPE_3

ORGANIZATION AND BUSINESS OPERATIONS (Details)	3 Months Ended
	Mar. 31, 2020segment
ORGANIZATION AND BUSINESS OPERATIONS
Number of Operating Segments	3

REVENUE RECOGNITION AND RECEI_3

REVENUE RECOGNITION AND RECEIVABLES - Contract Assets and Liabilities (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2020USD ($)
Contract Assets and Liabilities
Contract Asset - current	$ 2,413
Change in contract asset - current	(38)
Contract Asset - current	$ 2,375
% of change in contract asset - current	(2.00%)
Contract asset, noncurrent	$ 905
Change in contract Asset - noncurrent	(89)
Contract asset, noncurrent	$ 816
% of change in contract Asset - noncurrent	(10.00%)
Contract liability- current	$ (15,044)
Change in contract liabilities - current	(4,327)
Contract liability- current	$ (19,371)
% of change in contract liabilities - current	29.00%
Contract liability- noncurrent	$ (5,450)
Change in contract liabilities - noncurrent	257
Contract liability- noncurrent	$ (5,193)
% of change in contract liabilities - Noncurrent	(5.00%)
Net contract liability	$ (17,176)
Change in net contract liability	(4,197)
Net contract liability	$ (21,373)
% of change in net contract liability	24.00%
Revenue recognized related to contract liability	$ 12,000
Amortization of contract assets	700
Revenue recognized in the period related to performance obligations that were satisfied or partially satisfied in previous periods	$ 0
Retail revenue period for billing postpaid customers in advance	1 month

REVENUE RECOGNITION AND RECEI_4

REVENUE RECOGNITION AND RECEIVABLES - Contract Acquisition Costs (Details) $ in Millions	3 Months Ended
	Mar. 31, 2020USD ($)
Contract Acquisition Costs
Amortization of contract acquisition cost	$ 0.5
Prepayments and other current assets
Contract Acquisition Costs
Short-term contract acquisition costs	1.7
Other assets
Contract Acquisition Costs
Long-term contract acquisition costs	$ 1.1

REVENUE RECOGNITION AND RECEI_5

REVENUE RECOGNITION AND RECEIVABLES - Remaining Performance Obligations - (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Revenue Recognition
Transaction price allocated to unsatisfied performance obligations		$ 241
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-04-01
Revenue Recognition
Transaction price allocated to unsatisfied performance obligations	$ 353
Period to satisfy the remaining performance obligations and recognize the transaction price	24 months
Right to invoice and wholly unsatisfied performance obligation practical expedients	true

REVENUE RECOGNITION AND RECEI_6

REVENUE RECOGNITION AND RECEIVABLES - Allowance for Credit Losses - (Details) - USD ($) $ in Millions	Mar. 31, 2020	Dec. 31, 2019
Allowance for Credit Loss
Gross accounts receivable	$ 57.9	$ 48.6
Accounts receivable allowance	$ 12.7	12.7
Accounting Standards Update 2016-13 | Restatement Adjustment
Allowance for Credit Loss
Cumulative effect adjustment due to adoption of new accounting		$ 0

REVENUE RECOGNITION AND RECEI_7

REVENUE RECOGNITION AND RECEIVABLES - Allowance for Credit Losses Rollforward - (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
REVENUE RECOGNITION AND RECEIVABLES
Beginning Balance	$ 12,724
Current period provision for expected losses	1,260	$ 1,285
Write-offs charged against the allowance	(1,525)
Recoveries collected	208
Ending Balance	$ 12,667

LEASES - Narrative (Details)

LEASES - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Dec. 31, 2019	Jan. 01, 2019
LEASES
Operating lease right-of-use asset	$ 65,515	$ 68,763
Short-term lease liability	11,179	11,406
Long-term lease liability	$ 53,721	$ 56,164
Package of practical expedients	true
Minimum
LEASES
Operating lease, lease term	3 years
Finance lease, lease term	3 years
Maximum
LEASES
Operating lease, lease term	10 years
Finance lease, lease term	10 years
Restatement Adjustment | ASC 842
LEASES
Operating lease right-of-use asset			$ 70,800
Short-term lease liability			8,200
Long-term lease liability			61,200
Cumulative effect adjustment due to adoption of new accounting			$ 0

LEASES - Components of Lease Ex

LEASES - Components of Lease Expense and Payments (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
LEASES
Operating lease cost	$ 4,047	$ 3,516
Short-term lease cost	543	713
Variable lease cost	803	961
Total operating lease cost	5,393	5,190
Payments for lease liabilities	3,500	3,200
Lease liabilities arising from right-of-use assets	0	200
Finance lease cost:
Amortization of right-of-use asset	571	593
Variable costs	272	296
Total finance lease cost	843	$ 889
Finance leases cost included in property, plant and equipment	$ 26,300		$ 25,900
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	us-gaap:PropertyPlantAndEquipmentGross		us-gaap:PropertyPlantAndEquipmentGross
Accumulated depreciation related to finance leases	$ 10,000		$ 9,400

LEASES - Weighted average remai

LEASES - Weighted average remaining lease terms and discount rates (Details)	Mar. 31, 2020	Dec. 31, 2019
LEASES
Operating leases, weighted average remaining lease term	6 years 4 months 24 days	6 years 6 months
Financing leases, weighted average remaining lease term	11 years 8 months 12 days	11 years 8 months 12 days
Operating leases, weighted average discount rate	5.10%	5.00%

LEASES - Maturities of lease li

LEASES - Maturities of lease liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
LEASES
2020 (excluding the three months ended March 31, 2020)	$ 11,097
2020		$ 14,526
2021	13,748	13,714
2022	12,773	12,787
2023	10,561	10,713
2024	9,532	9,671
Thereafter	18,572	18,355
Total lease payments	76,283	79,766
Less imputed interest	(11,384)	(12,195)
Total	$ 64,899	$ 67,571
Operating Lease, Liability, Statement of Financial Position [Extensible List]	us-gaap:OperatingLeaseLiabilityCurrent us-gaap:OperatingLeaseLiabilityNoncurrent	us-gaap:OperatingLeaseLiabilityCurrent us-gaap:OperatingLeaseLiabilityNoncurrent

IMPACT OF HURRICANES IRMA AND_2

IMPACT OF HURRICANES IRMA AND MARIA (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		12 Months Ended
	Feb. 28, 2018	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
IMPACT OF THE HURRICANES IRMA AND MARIA
Pre-tax loss		$ (3,485)	$ (1,948)
Payment for network repairs and resiliency enhancements			123
Revenue		$ 110,905	103,300
HURRICANES IRMA AND MARIA
IMPACT OF THE HURRICANES IRMA AND MARIA
Pre-tax loss					$ 4,000
Loss on damaged assets from Hurricanes					35,400
Insurance proceeds	$ 34,600
Additional operating expenses					$ 3,200
Payment for network repairs and resiliency enhancements			$ 100
HURRICANES IRMA AND MARIA | Universal Service Fund programs
IMPACT OF THE HURRICANES IRMA AND MARIA
Revenue				$ 15,500

FAIR VALUE MEASUREMENTS AND I_3

FAIR VALUE MEASUREMENTS AND INVESTMENTS (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Sep. 30, 2019	Mar. 31, 2019	Dec. 31, 2019
Fair value measurements
Acquired additional securities	$ 2,768		$ 10,000
Increase in carrying value	$ (1,775)
Privately Held Investment
Fair value measurements
Ownership percentage	24.00%
Additional investment	$ 2,800
Increase in carrying value	300
Share investee loss	300
Currency losses	2,200
Other assets | Privately Held Investment
Fair value measurements
Carrying value	15,800
Carrying Value
Fair value measurements
Long-term debt	85,500			$ 86,400
Carrying Value | Other assets
Fair value measurements
Strategic investments	2,100			2,100
Short Term Investments
Fair value measurements
Equity investments	100			200
Loss (gain) on equity securities	100		$ 0
Other investments
Fair value measurements
Equity investments	10,500
Increase in carrying value	300
Other investments | Renewable energy partnership
Fair value measurements
Investment cost		$ 14,400
Investment Tax Credit		$ 12,000
Equity investments	2,500			2,500
Level 2 | Estimated Fair Value
Fair value measurements
Long-term debt	86,000			86,900
Level 2 | Interest rate swap
Fair value measurements
Unrealized loss	200
Recurring basis
Fair value measurements
Total assets and liabilities measured at fair value	15,276			15,769
Recurring basis | Certificate of deposit
Fair value measurements
Cash and cash equivalents	380			380
Recurring basis | Money market funds
Fair value measurements
Cash and cash equivalents	2,028			2,329
Recurring basis | Short Term Investments
Fair value measurements
Investments	104			416
Recurring basis | Other investments
Fair value measurements
Investments	12,996			12,700
Recurring basis | Interest rate swap
Fair value measurements
Derivative liabilities	(232)			(56)
Recurring basis | Level 1
Fair value measurements
Total assets and liabilities measured at fair value	2,132			2,745
Recurring basis | Level 1 | Money market funds
Fair value measurements
Cash and cash equivalents	2,028			2,329
Recurring basis | Level 1 | Short Term Investments
Fair value measurements
Investments	104			416
Recurring basis | Level 2
Fair value measurements
Total assets and liabilities measured at fair value	148			324
Recurring basis | Level 2 | Certificate of deposit
Fair value measurements
Cash and cash equivalents	380			380
Recurring basis | Level 2 | Interest rate swap
Fair value measurements
Derivative liabilities	(232)			(56)
Recurring basis | Level 3
Fair value measurements
Total assets and liabilities measured at fair value	12,996			12,700
Recurring basis | Level 3 | Other investments
Fair value measurements
Investments	$ 12,996			$ 12,700

LONG-TERM DEBT (Details)

LONG-TERM DEBT (Details) $ in Millions	Mar. 26, 2020USD ($)	Apr. 10, 2019USD ($)	May 22, 2017USD ($)	Mar. 31, 2020USD ($)	Dec. 31, 2018USD ($)	Jul. 31, 2017USD ($)	Dec. 31, 2016USD ($)	Jul. 01, 2016USD ($)
One Communications Debt
Long-term debt
Financing costs			$ 0.3
Outstanding debt				$ 26.2
Unamortized financing costs				0.1
One Communications Debt | Minimum
Long-term debt
Percentage of notional amount required for hedging arrangement			30.00%
One Communications Debt | Minimum | One-month LIBOR
Long-term debt
Basis spread on variable rate (as a percent)			2.50%
One Communications Debt | Maximum | One-month LIBOR
Long-term debt
Basis spread on variable rate (as a percent)			2.75%
Viya Debt
Long-term debt
Term loan assumed								$ 60
Net leverage ratio								3.5
Stated interest rate							4.00%	4.00%
Financing costs							$ 0.9
Intercompany debt limit					$ 75
Outstanding debt				60
Unamortized financing costs				0.6
Revolver loan | Credit facility
Long-term debt
Maximum borrowing capacity		$ 200
Remaining borrowing capacity				189.2
Net leverage ratio		1.75
Net leverage ratio, if qualifying event		3.25
Borrowings outstanding				0
Revolver loan | Credit facility | Minimum
Long-term debt
Commitment fee (as a percent)		0.15%
Revolver loan | Credit facility | Minimum | LIBOR
Long-term debt
Basis spread on variable rate (as a percent)		1.25%
Revolver loan | Credit facility | Minimum | Base rate
Long-term debt
Basis spread on variable rate (as a percent)		0.25%
Revolver loan | Credit facility | Maximum
Long-term debt
Commitment fee (as a percent)		0.375%
Net leverage ratio		2.75
Revolver loan | Credit facility | Maximum | LIBOR
Long-term debt
Basis spread on variable rate (as a percent)		2.25%
Revolver loan | Credit facility | Maximum | Base rate
Long-term debt
Basis spread on variable rate (as a percent)		1.25%
Letter of credit sub-facility | Credit facility
Long-term debt
Maximum borrowing capacity		$ 75
Performance letters of credit issued and outstanding				10.8
Swingline sub-facility | Credit facility
Long-term debt
Maximum borrowing capacity		$ 10
Base rate before one-week or one-month LIBOR (as a percent)		1.00%
Swingline sub-facility | Credit facility | Federal Funds Effective Rate
Long-term debt
Basis spread on variable rate (as a percent)		0.50%
Term loans | Credit facility
Long-term debt
Maximum borrowing capacity		$ 200
Commnet Finance | Senior secured delayed draw term loan | Receivable credit facility
Long-term debt
Maximum borrowing capacity	$ 75
Commnet Finance | Senior secured delayed draw term loan | Receivable credit facility | LIBOR
Long-term debt
Basis spread on variable rate (as a percent)	2.50%
Commnet Finance | Senior secured delayed draw term loan | Receivable credit facility | Base rate
Long-term debt
Basis spread on variable rate (as a percent)	1.50%
Cash flow hedge | Interest rate swap
Long-term debt
Notional amount				$ 8.2		$ 11
Interest rate (as a percent)						1.874%

GOVERNMENT GRANTS (Details)

GOVERNMENT GRANTS (Details) $ in Thousands	1 Months Ended	3 Months Ended		12 Months Ended
	Aug. 31, 2018USD ($)	Mar. 31, 2020USD ($)MWitem	Mar. 31, 2019USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Sep. 30, 2018USD ($)	Dec. 31, 2017USD ($)
Government Grants
Revenue		$ 110,905	$ 103,300
Universal Service Fund programs
Government Grants
Number of fund disbursement programs | item		4
Universal Service Fund programs | HURRICANES IRMA AND MARIA
Government Grants
Revenue					$ 15,500
Mobility Funds
Government Grants
Mobility Funds received							$ 21,100
Mobility Funds | US Telecom
Government Grants
Grant funds used to offset fixed asset related costs							$ 7,200
Grant funds used to offset operating expenses						$ 13,900
High-Cost Support Program | US Telecom
Government Grants
Revenue		$ 300	300
High-Cost Support Program | International Telecom
Government Grants
Revenue		4,100	4,100
E-Rate, Lifeline and Rural Health Care Support Programs
Government Grants
Revenue		2,200	$ 1,500
E-Rate
Government Grants
Grant Funds Awarded		$ 15,800
Proceeds from completion of construction				$ 5,400
Reimbursement of capital expenditures				3,100
Offsetting operating activities				$ 2,300
Tribal Bidding Credit
Government Grants
Wireless service spectrum (in Mhz) | MW		600
Revenue					$ 7,400
Grant funds used to offset fixed asset related costs		$ 5,400
Grant funds used to offset operating expenses		2,000
Connect America Fund Phase II Auction
Government Grants
Revenue		$ 1,900
Grant Funds Awarded	$ 79,900
Grant fund term	10 years

RETIREMENT PLANS - Net Periodic

RETIREMENT PLANS - Net Periodic Pension Cost (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Components of the plan's net periodic pension cost
Company contributions	$ 0	$ 0
Pension Plans
Components of the plan's net periodic pension cost
Service cost	423	447
Interest cost	879	841
Expected return on plan assets	(1,158)	(1,263)
Actuarial gain/ loss	(7)	7
Net periodic pension expense	137	32
Funded status of plan
Plan Net Assets			$ 15,600
Projected benefit obligation			$ 15,100
Postretirement Benefits
Components of the plan's net periodic pension cost
Service cost	32	37
Interest cost	45	40
Actuarial gain/ loss	(15)	(17)
Net periodic pension expense	$ 62	$ 60

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
INCOME TAXES
Effective tax rate (as a percent)	31.80%	62.30%
Interest on unrecognized tax position	$ 0.5
Change in valuation allowance	0.4
Benefit (net) related to remeasurement of existing losses	$ 0.3
Increase unrecognized tax benefits		$ 0.5
Provision for stock compensation		$ 0.1

NET INCOME (LOSS) PER SHARE (De

NET INCOME (LOSS) PER SHARE (Details) - shares	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Stock options
Anti-dilutive common shares not included for computation of earnings per share
Anti-dilutive potential shares excluded from the computation of diluted weighted average shares outstanding (in shares)	5,000	42,000

SEGMENT REPORTING (Details)

SEGMENT REPORTING (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2020USD ($)segment	Mar. 31, 2019USD ($)	Dec. 31, 2019USD ($)
Segment reporting
Number of reportable segments | segment	3
Revenue
Revenue	$ 110,905	$ 103,300
Depreciation and amortization	22,518	20,718
Non-cash stock-based compensation	1,160	1,301
Operating income (loss)	7,299	2,114
Segment Assets
Cash, Cash equivalents, and Investments	146,017		$ 161,703
Total current assets	235,342		228,723
Fixed assets, net	592,927		605,581
Goodwill	60,691		60,691
Total assets	1,108,592		1,130,726
Total current liabilities	113,444		119,669
Total debt	85,525		86,426
Capital Expenditures
Capital expenditures	14,061	17,764
Hurricane rebuild capital expenditures		123
Communication services
Revenue
Revenue	107,896	100,465
Mobility
Revenue
Revenue	23,792	23,664
Fixed
Revenue
Revenue	61,252	57,457
Carrier services
Revenue
Revenue	22,636	19,157
Other
Revenue
Revenue	216	187
Other
Revenue
Revenue	3,009	2,835
Renewable Energy
Revenue
Revenue	1,322	1,490
Managed Services
Revenue
Revenue	1,687	1,345
Corporate and Other
Revenue
Depreciation and amortization	1,703	1,489
Non-cash stock-based compensation	1,197	1,290
Operating income (loss)	(7,915)	(8,055)
Segment Assets
Cash, Cash equivalents, and Investments	37,885		55,284
Total current assets	51,932		55,485
Fixed assets, net	20,709		21,453
Total assets	165,837		184,419
Total current liabilities	13,745		14,375
Capital Expenditures
Capital expenditures	904	2,724
International Telecom | Operating segments
Revenue
Revenue	82,284	80,317
Depreciation and amortization	14,315	13,015
Non-cash stock-based compensation	(37)	11
Operating income (loss)	13,477	13,878
Segment Assets
Cash, Cash equivalents, and Investments	48,222		43,125
Total current assets	95,764		91,497
Fixed assets, net	462,275		466,523
Goodwill	25,421		25,421
Total assets	645,987		647,228
Total current liabilities	71,129		77,644
Total debt	85,525		86,426
Capital Expenditures
Capital expenditures	10,465	11,356
Hurricane rebuild capital expenditures		100
International Telecom | Operating segments | Communication services
Revenue
Revenue	80,605	79,107
International Telecom | Operating segments | Mobility
Revenue
Revenue	19,667	19,755
International Telecom | Operating segments | Fixed
Revenue
Revenue	58,149	56,694
International Telecom | Operating segments | Carrier services
Revenue
Revenue	2,573	2,471
International Telecom | Operating segments | Other
Revenue
Revenue	216	187
International Telecom | Operating segments | Other
Revenue
Revenue	1,679	1,210
International Telecom | Operating segments | Managed Services
Revenue
Revenue	1,679	1,210
US Telecom | Operating segments
Revenue
Revenue	27,299	21,493
Depreciation and amortization	5,886	5,598
Operating income (loss)	2,193	(3,506)
Segment Assets
Cash, Cash equivalents, and Investments	36,052		38,240
Total current assets	61,191		54,207
Fixed assets, net	64,710		69,184
Goodwill	35,270		35,270
Total assets	224,363		222,356
Total current liabilities	26,910		24,905
Capital Expenditures
Capital expenditures	1,972	3,075
US Telecom | Operating segments | Communication services
Revenue
Revenue	27,291	21,358
US Telecom | Operating segments | Mobility
Revenue
Revenue	4,125	3,909
US Telecom | Operating segments | Fixed
Revenue
Revenue	3,103	763
US Telecom | Operating segments | Carrier services
Revenue
Revenue	20,063	16,686
US Telecom | Operating segments | Other
Revenue
Revenue	8	135
US Telecom | Operating segments | Managed Services
Revenue
Revenue	8	135
Renewable Energy | Operating segments
Revenue
Revenue	1,322	1,490
Depreciation and amortization	614	616
Operating income (loss)	(456)	(203)
Segment Assets
Cash, Cash equivalents, and Investments	23,858		25,054
Total current assets	26,455		27,534
Fixed assets, net	45,233		48,421
Total assets	72,405		76,723
Total current liabilities	1,660		$ 2,745
Capital Expenditures
Capital expenditures	720	609
Renewable Energy | Operating segments | Other
Revenue
Revenue	1,322	1,490
Renewable Energy | Operating segments | Renewable Energy
Revenue
Revenue	$ 1,322	$ 1,490

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2020	Dec. 31, 2011
Contingency related to spectrum fees
Commitments and contingencies
Spectrum fees paid		$ 2.6
Legal claims regarding tax filings with the Guyana Revenue Authority
Commitments and contingencies
Future payments related to disputed tax assessments	$ 44.1
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%