ATN International (ATNI) 10-Q12 Nov 242024 Q3 Quarterly reportFinancial data

Company Profile

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
Document and Entity Information - shares	Sep. 30, 2024	Nov. 12, 2024
Document and Entity Information
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2024
Document Transition Report	false
Securities Act 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
Entity Address, Address Line Two	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	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		15,114,216
Entity Central Index Key	0000879585
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Amendment Flag	false

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Current Assets:
Cash and cash equivalents	$ 100,689	$ 49,225
Restricted cash	16,075	12,942
Short-term investments	310	300
Accounts receivable, net of allowances for credit losses of $15.3 million and $16.4 million, respectively	88,706	88,030
Replace and remove program receivable	35,622	50,586
Customer receivable	7,924	7,249
Inventory, materials and supplies	15,815	19,133
Prepayments and other current assets	60,465	53,807
Total current assets	325,606	281,272
Fixed Assets, net	1,049,002	1,080,659
Telecommunication licenses, net	113,319	113,319
Goodwill	4,835	40,104
Intangible assets, net	13,889	19,585
Operating lease right-of-use assets	99,231	99,335
Customer receivable - long term	41,925	45,676
Other assets	103,574	103,764
Total assets	1,751,381	1,783,714
Current Liabilities:
Current portion of long-term debt	7,413	24,290
Current portion of customer receivable credit facility	7,935	7,110
Accounts payable and accrued liabilities	175,741	182,069
Dividends payable	3,627	3,701
Accrued taxes	10,685	10,876
Current portion of lease liabilities	15,310	15,164
Advance payments and deposits	47,719	49,984
Total current liabilities	268,430	293,194
Deferred income taxes	1,878	19,775
Lease liabilities, excluding current portion	77,033	76,936
Deferred revenue, long-term	57,088	64,035
Other liabilities	77,979	74,531
Customer receivable credit facility, net of current portion	38,274	38,943
Long-term debt, excluding current portion	561,493	492,580
Total liabilities	1,082,175	1,059,994
Total redeemable noncontrolling interests	75,083	85,917
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; 17,879,110 and 17,702,476 shares issued, respectively, 15,114,216 and 15,421,481 shares outstanding, respectively	173	173
Treasury stock, at cost; 2,764,894 and 2,280,995 shares, respectively	(102,379)	(90,447)
Additional paid-in capital	211,401	205,797
Retained earnings	373,022	417,282
Accumulated other comprehensive income	8,578	8,268
Total ATN International, Inc. stockholders' equity	490,795	541,073
Noncontrolling interests	103,328	96,730
Total equity	594,123	637,803
Total liabilities, redeemable noncontrolling interests and equity	1,751,381	1,783,714
Redeemable preferred units
Current Liabilities:
Total redeemable noncontrolling interests	64,248	60,094
Redeemable Common Units
Current Liabilities:
Total redeemable noncontrolling interests	$ 10,835	$ 25,823

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Accounts receivable, allowances	$ 15.3	$ 16.4
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	17,879,110	17,702,476
Common stock, shares outstanding	15,114,216	15,421,481
Treasury stock, shares	2,764,894	2,280,995

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
REVENUE:
Total revenue	$ 178,451	$ 191,036	$ 548,527	$ 563,250
OPERATING EXPENSES (excluding depreciation and amortization unless otherwise indicated):
Selling, general and administrative	53,601	60,792	172,580	184,055
Stock-based compensation	1,831	1,956	6,521	6,473
Transaction-related charges	3,791	45	3,809	496
Restructuring and reorganization expenses	2,345	1,383	3,535	4,640
Depreciation and amortization	37,299	34,370	107,196	106,991
Amortization of intangibles from acquisitions	1,991	3,124	5,916	9,514
(Gain) loss on disposition of assets and transfers	1,504	132	(14,919)	410
Goodwill impairment	35,269		35,269
Total operating expenses	216,809	184,200	557,994	553,339
Income from operations	(38,358)	6,836	(9,467)	9,911
OTHER INCOME (EXPENSE)
Interest income	212	136	799	362
Interest expense	(12,695)	(11,445)	(36,552)	(30,700)
Other income (expense)	(645)	213	(1,052)	2,623
Other (expense)	(13,128)	(11,096)	(36,805)	(27,715)
LOSS BEFORE INCOME TAXES	(51,486)	(4,260)	(46,272)	(17,804)
Income tax benefit	(12,035)	(542)	(10,213)	(6,369)
NET LOSS	(39,451)	(3,718)	(36,059)	(11,435)
Net loss attributable to noncontrolling interests, net of tax (benefit) expense of $(0.9) million, $(0.6) million, $(1.0) million and $(1.8) million respectively	6,760	134	6,059	2,733
NET LOSS ATTRIBUTABLE TO ATN INTERNATIONAL, INC. STOCKHOLDERS	$ (32,691)	$ (3,584)	$ (30,000)	$ (8,702)
Basic (in dollars per share)	$ (2.26)	$ (0.31)	$ (2.24)	$ (0.80)
Diluted (in dollars per share)	(2.26)	(0.31)	(2.24)	(0.80)
NET LOSS PER WEIGHTED AVERAGE SHARE ATTRIBUTABLE TO ATN INTERNATIONAL, INC. STOCKHOLDERS:
Basic (in dollars per share)	(2.26)	(0.31)	(2.24)	(0.80)
Diluted (in dollars per share)	$ (2.26)	$ (0.31)	$ (2.24)	$ (0.80)
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING:
Basic (in shares)	15,114	15,601	15,268	15,666
Diluted (in shares)	15,114	15,601	15,268	15,666
DIVIDENDS PER SHARE APPLICABLE TO COMMON STOCK (in dollars per share)	$ 0.24	$ 0.21	$ 0.72	$ 0.63
Communication Services
REVENUE:
Total revenue	$ 174,422	$ 184,601	$ 533,055	$ 547,484
OPERATING EXPENSES (excluding depreciation and amortization unless otherwise indicated):
Cost of services	78,973	80,367	235,499	237,125
Construction
REVENUE:
Total revenue	203	2,038	2,609	3,648
OPERATING EXPENSES (excluding depreciation and amortization unless otherwise indicated):
Cost of services	205	2,031	2,588	3,635
Other
REVENUE:
Total revenue	$ 3,826	$ 4,397	$ 12,863	$ 12,118

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Parenthetical) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Income Statement [Abstract]
Non-controlling interest, net of tax (benefit) expense	$ (0.9)	$ (0.6)	$ (1)	$ (1.8)

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Statement of Comprehensive Income [Abstract]
Net loss	$ (39,451)	$ (3,718)	$ (36,059)	$ (11,435)
Other comprehensive income (loss):
Foreign currency translation adjustment				229
Reclassification of foreign currency losses on investment		1,349		1,349
Reclassification of loss on pension settlement, net of $(0.2) million of tax				195
Unrealized gain (loss) on derivatives, net of tax expense of $0.5 million and $(0.1) million	(1,412)		310
Other comprehensive income (loss), net of tax	(1,412)	1,349	310	1,773
Comprehensive loss	(40,863)	(2,369)	(35,749)	(9,662)
Less: Comprehensive loss attributable to noncontrolling interests	6,760	134	6,059	2,733
Comprehensive loss attributable to ATN International, Inc.	$ (34,103)	$ (2,235)	$ (29,689)	$ (6,929)

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Parenthetical) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2024	Sep. 30, 2023
Statement of Comprehensive Income [Abstract]
Reclassification of loss on pension settlement, net of tax			$ (0.2)
Unrealized gain on derivatives net of tax expense	$ 0.5	$ (0.1)

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	Other Comprehensive Income/(Loss)	Non-Controlling Interests	Total
Balance, beginning of period at Dec. 31, 2022	$ 580,813	$ 173	$ (73,825)	$ 198,449	$ 449,806	$ 6,210	$ 96,016	$ 676,829
Increase (Decrease) in Stockholders' Equity
Purchase of shares of common stock	(13,152)		(13,152)					(13,152)
Stock-based compensation	6,057			6,057			416	6,473
Dividends declared on common stock	(9,864)				(9,864)		(1,447)	(11,311)
Repurchase of non-controlling interests	(81)			(81)			(681)	(762)
Accrued dividend - redeemable preferred units	(3,593)				(3,593)			(3,593)
Deemed dividend - redeemable common units	(7,497)				(7,497)		7,788	291
Comprehensive income:
Net income (loss)	(8,702)				(8,702)		(2,733)	(11,435)
Other comprehensive income (loss)	1,773					1,773		1,773
Total comprehensive income (loss)	(6,929)				(8,702)	1,773	(2,733)	(9,662)
Balance, end of period at Sep. 30, 2023	545,754	173	(86,977)	204,425	420,150	7,983	99,359	645,113
Balance, beginning of period at Jun. 30, 2023	557,253	173	(82,086)	202,623	429,909	6,634	97,723	654,976
Increase (Decrease) in Stockholders' Equity
Purchase of shares of common stock	(4,891)		(4,891)					(4,891)
Stock-based compensation	1,802			1,802			154	1,956
Dividends declared on common stock	(3,260)				(3,260)			(3,260)
Repurchase of non-controlling interests							4	4
Accrued dividend - redeemable preferred units	(1,303)				(1,303)			(1,303)
Deemed dividend - redeemable common units	(1,612)				(1,612)		1,612
Comprehensive income:
Net income (loss)	(3,584)				(3,584)		(134)	(3,718)
Other comprehensive income (loss)	1,349					1,349		1,349
Total comprehensive income (loss)	(2,235)				(3,584)	1,349	(134)	(2,369)
Balance, end of period at Sep. 30, 2023	545,754	173	(86,977)	204,425	420,150	7,983	99,359	645,113
Balance, beginning of period at Dec. 31, 2023	541,073	173	(90,447)	205,797	417,282	8,268	96,730	637,803
Increase (Decrease) in Stockholders' Equity
Purchase of shares of common stock	(12,047)		(11,932)	(115)				(12,047)
Stock-based compensation	5,719			5,719			802	6,521
Dividends declared on common stock	(10,973)				(10,973)		(2,266)	(13,239)
Accrued dividend - redeemable preferred units	(4,154)				(4,154)			(4,154)
Deemed dividend - redeemable common units	867				867		14,121	14,988
Comprehensive income:
Net income (loss)	(30,000)				(30,000)		(6,059)	(36,059)
Other comprehensive income (loss)	310					310		310
Total comprehensive income (loss)	(29,690)				(30,000)	310	(6,059)	(35,749)
Balance, end of period at Sep. 30, 2024	490,795	173	(102,379)	211,401	373,022	8,578	103,328	594,123
Balance, beginning of period at Jun. 30, 2024	526,771	173	(102,379)	209,944	409,043	9,990	101,994	628,765
Increase (Decrease) in Stockholders' Equity
Excise tax paid on shares repurchased	(115)			(115)				(115)
Stock-based compensation	1,572			1,572			259	1,831
Dividends declared on common stock	(3,628)				(3,628)		(110)	(3,738)
Accrued dividend - redeemable preferred units	(1,426)				(1,426)			(1,426)
Deemed dividend - redeemable common units	1,724				1,724		7,945	9,669
Comprehensive income:
Net income (loss)	(32,691)				(32,691)		(6,760)	(39,451)
Other comprehensive income (loss)	(1,412)					(1,412)		(1,412)
Total comprehensive income (loss)	(34,103)				(32,691)	(1,412)	(6,760)	(40,863)
Balance, end of period at Sep. 30, 2024	$ 490,795	$ 173	$ (102,379)	$ 211,401	$ 373,022	$ 8,578	$ 103,328	$ 594,123

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF EQUITY (Parenthetical) - $ / shares shares in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
CONDENSED CONSOLIDATED STATEMENTS OF EQUITY
Purchase of shares of common stock	141,923	483,899	359,620
Dividends declared on common stock (in dollars per share)	$ 0.21	$ 0.72	$ 0.63

CONDENSED CONSOLIDATED STATEM_6

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Cash flows from operating activities:
Net income (loss)	$ (36,059)	$ (11,435)
Adjustments to reconcile net loss to net cash flows provided by operating activities:
Depreciation and amortization	107,196	106,991
Amortization of intangibles from acquisitions	5,916	9,514
Provision for doubtful accounts	4,209	4,014
Amortization of debt issuance costs	1,915	1,806
(Gain) loss on disposition of assets and contingent consideration	(14,919)	410
Stock-based compensation	6,521	6,473
Deferred income taxes	(14,409)	(9,452)
Loss on pension settlement		369
Loss on extinguishment of debt	760
Gain on investments	(484)	(2,752)
Goodwill impairment	35,269
Changes in operating assets and liabilities, excluding the effects of acquisitions and dispositions:
Accounts receivable and replace and remove program receivable	8,958	(2,881)
Customer receivable	3,076	1,185
Prepaid income taxes	23	739
Accrued taxes	(3,187)	2,863
Materials and supplies, prepayments, and other current assets	(893)	424
Accounts payable and accrued liabilities and advance payments and deposits	(1,163)	(6,769)
Other assets	288	(4,683)
Other liabilities	(5,591)	(7,332)
Net cash provided by operating activities	97,426	89,484
Cash flows from investing activities:
Capital expenditures	(85,672)	(126,640)
Government capital programs - Amounts disbursed	(71,849)	(14,261)
Government capital programs - Amounts received	72,531	16,065
(Purchases) and sales of strategic investments	790	(1,055)
Acquisition of business		1,314
Purchase of intangible assets	(573)
Purchase of investments - employee benefit plan	(55)
Proceeds from investments - employee benefit plan	560
Proceeds from sale of assets	17,910
Net cash used in investing activities	(66,358)	(124,577)
Cash flows from financing activities:
Dividends paid on common stock	(11,047)	(9,918)
Distributions to noncontrolling interests	(2,226)	(1,447)
Payment of debt issuance costs	(6,548)	(3,708)
Finance lease payments	(1,357)	(932)
Term loan - repayments	(239,430)	(3,532)
Term loan - borrowings	300,000	130,000
Revolving credit facility - borrowings	90,000	126,893
Revolving credit facility - repayments	(94,002)	(174,292)
Proceeds from customer receivable credit facility	5,740	4,300
Repayment of customer receivable credit facility	(5,669)	(4,998)
Purchases of common stock - stock- based compensation	(1,932)	(1,473)
Purchases of common stock - share repurchase plan	(10,000)	(11,679)
Repurchases of noncontrolling interests		(762)
Net cash (used in) provided by financing activities	23,529	48,452
Net change in cash, cash equivalents, and restricted cash	54,597	13,359
Total cash, cash equivalents, and restricted cash, beginning of period	62,167	59,728
Total cash, cash equivalents, and restricted cash, end of period	116,764	73,087
Supplemental cash flow information:
Interest paid	34,757	26,390
Taxes paid	5,739	2,765
Dividends declared, not paid	3,627	3,260
Noncash investing activity:
Amounts accrued for reimbursable capital expenditures from government capital programs	32,467	25,244
Amounts accrued for non-reimbursable capital expenditures	$ 14,031	$ 19,107

ORGANIZATION AND BUSINESS OPERA

ORGANIZATION AND BUSINESS OPERATIONS	9 Months Ended
ORGANIZATION AND BUSINESS OPERATIONS	Sep. 30, 2024
ORGANIZATION AND BUSINESS OPERATIONS
ORGANIZATION AND BUSINESS OPERATIONS	1. ORGANIZATION AND BUSINESS OPERATIONS The Company is a leading provider of digital infrastructure and communications services with a focus on rural and remote markets in the United States, and internationally, including Bermuda and the Caribbean region. The Company has developed significant operational expertise and resources that it uses to augment its capabilities in its local markets. With this support, the Company’s operating subsidiaries are able to improve their quality of service with greater economies of scale and expertise than would typically be available in the size markets they operate in. The Company provides management, technical, financial, regulatory, and marketing services to its operating subsidiaries and typically receives a management fee calculated as a percentage of their revenues, which is eliminated in consolidation. The Company also actively evaluates investment opportunities and other strategic transactions, both domestic and international, and generally looks for those that it believes fit the Company’s profile of telecommunications businesses and have the potential to complement the Company’s “First-to-Fiber” and “Glass & Steel™” approach in markets while keeping a focus on generating excess operating cash flows over extended periods of time. The Company uses the cash generated from its operations to maintain an appropriate ratio of debt and cash on hand to fund growth, capital expenditures, return cash to its stockholders through dividends or stock repurchases, and make strategic investments or acquisitions. For further information about the Company’s financial segments and geographical information about its operating revenues and assets, see Notes 1 and 13 to the Consolidated Financial Statements included in this Report. As of September 30, 2024, the Company offered the following types of services to its customers: ● Mobile Telecommunications Services . The Company offers mobile communications services over its wireless networks and related equipment, such as handsets, to both business and consumer customers. ● Fixed Telecommunications Services . The Company provides fixed data and voice telecommunications services and related equipment, such as modems, to business and consumer customers. These services include consumer broadband and high-speed data solutions for businesses. For some markets, fixed services also include video services and revenue derived from support under certain government programs. ● Carrier Telecommunication Services . The Company delivers services to other telecommunications providers including the leasing of critical network infrastructure such as tower and transport facilities, wholesale roaming and long distance voice services, site maintenance and international long-distance services. ● Managed Services . The Company provides information technology services such as network, application, infrastructure and hosting services to both its business and consumer customers to complement its fixed services in its existing markets. Through September 30, 2024, the Company identified two operating segments to manage and review its operations and to facilitate investor presentations of its results. These ● International Telecom. In the Company’s international markets, it offers fixed services, mobility services, carrier services and managed services to customers in Bermuda, the Cayman Islands, Guyana and the US Virgin Islands. ● US Telecom. In the United States, the Company offers fixed services, carrier services, and managed services to business customers and consumers in Alaska and the western United States. As of September 30, 2024, the Company provided mobility services to retail customers in the western United States. The following chart summarizes the operating activities of the Company’s principal subsidiaries, the segments in which it reports its revenue and the markets it served during the three months ended September 30, 2024: International Telecom US Telecom Services Markets Tradenames Services Markets Tradenames Mobility Services Bermuda, Guyana, US Virgin Islands One, GTT, Viya, Brava Mobility Services United States (rural markets) Choice, Choice NTUA Wireless Fixed Services Bermuda, Cayman Islands, Guyana, US Virgin Islands One, Logic, GTT, Viya, Brava Fixed Services United States Alaska Communications, Commnet, Choice, Choice NTUA Wireless, Sacred Wind Communications, Ethos, Deploycom Carrier Services Bermuda, Guyana, US Virgin Islands One, Essextel, GTT, Viya Carrier Services United States Alaska Communications, Commnet, Sacred Wind Communications Managed Services Bermuda, Cayman Islands, US Virgin Islands, Guyana Fireminds, One, Logic, GTT, Viya, Brava Managed Services United States Alaska Communications, Choice In September 2024, the Company undertook a rebranding of its retail services in its International Telecom segment to “One Communications” in Guyana, and is scheduled to implement that brand in the Cayman Islands and U.S. Virgin Islands in the first half of 2025. The Company intends to utilize the GTT and Viya brands for legacy voice services in certain markets for a period of time. For further information about the Company’s financial segments and geographical information about its operating revenues and assets, see Note 13 to the Unaudited Condensed Consolidated Financial Statements included in this Report. Restructuring and reorganization expense 2023 Restructuring In order to reduce the Company’s US Telecom and International Telecom segments’ cost structure, the Company has incurred certain network termination and reduction in force costs totaling $12.4 million during the restructuring program which began in the first quarter of 2023 and ended March 31, 2024. Of this amount, $1.2 million and $4.6 million were recorded during the nine months ended September 30, 2024 and 2023, respectively. A summary of the costs is below (in thousands): US International Telecom Telecom Total Employee termination benefits $ 1,960 $ 4,681 $ 6,641 Contract termination costs 5,777 — 5,777 Total $ 7,737 $ 4,681 $ 12,418 The charge is recorded in Restructuring and reorganization expenses on the Company’s Consolidated Statements of Operations. During the nine months ended September 30, 2024, the Company paid $5.7 million of the restructuring costs. In total, since the first quarter of 2023 and through September 30, 2024, the Company paid $11.4 million, recorded a gain of $0.3 million on lease termination, and $1.3 million of the restructuring costs remain accrued. In conjunction with the restructuring, the Company terminated certain leases and removed $5.6 million of lease right of use assets and $5.9 million of lease liabilities from its balance sheet. 2024 Reorganization In our efforts to advance our cost management actions to drive higher operating margins, the Company initiated a corporate reorganization to reduce operating expenses. Under this initiative, the Company incurred million of employee severance costs and termination costs during the three months ended September 30, 2024. Of this Asset Dispositions and Transfers During the nine months ended September 30, 2024, the Company’s International Telecom segment disposed of a non-core fixed asset of real property recording a gain of $15.7 million on the transaction. The Company received cash proceeds of

BASIS OF PRESENTATION

BASIS OF PRESENTATION	9 Months Ended
BASIS OF PRESENTATION	Sep. 30, 2024
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 the periods described therein. 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, 2023, filed with the SEC on March 15, 2024. 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. Recent Accounting Pronouncements In December 2023, the FASB released ASU 2023-09, titled "Enhancements to Income Tax Disclosures," with the aim of improving the clarity and usefulness of income tax disclosures. The update focuses primarily on enhancing disclosures related to rate reconciliation and income taxes paid. ASU 2023-09 becomes effective for annual reporting periods starting after December 15, 2024, with early adoption permitted. While the changes prescribed by ASU 2023-09 are implemented prospectively, retrospective application is also allowed. The Company has chosen not to adopt this standard early and is currently assessing its potential impact on our consolidated financial statements and accompanying disclosures. In November 2023, the FASB issued ASU No. 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures” (ASU 2023-07), which requires that a public entity disclose, on an interim and annual basis, significant segment expense categories and amounts that are regularly provided to its chief operating decision maker (CODM) and included in each reported measure of segment profit or loss. An entity must also disclose, by reportable segment, the amount and composition of other expenses. The standard requires an entity to disclose the title and position of its CODM and explain how the CODM uses these reported measures in assessing segment performance and determining how to allocate resources. ASU 2023-07 will be effective for annual periods beginning after December 15, 2023, and interim periods beginning after December 31, 2024, with retrospective application. The Company will adopt the standard on January 1, 2025 and is currently evaluating the disclosure impacts of adoption. In November 2024, the FASB issued ASU No. 2024-03, “Disaggregation of Income Statements Expenses (DISE)” (ASU 2024-03), which requires that a public entity provide additional disclosure of the nature of expenses included in the income statement. The new standard requires disclosures about specific types of expenses included in the expense captions presented on the face of the income statement as well as disclosures about selling expenses. ASU 2024-03 will be effective for annual periods beginning after December 15, 2026, and interim periods beginning after December 15, 2027, with retrospective application. The standard allows early adoption of these requirements and the Company is currently evaluating the disclosure impacts of adoption.

REVENUE RECOGNITION AND RECEIVA

REVENUE RECOGNITION AND RECEIVABLES	9 Months Ended
REVENUE RECOGNITION AND RECEIVABLES	Sep. 30, 2024
REVENUE RECOGNITION AND RECEIVABLES
REVENUE RECOGNITION AND RECEIVABLES	3. REVENUE RECOGNITION AND RECEIVABLES Revenue Accounted for in Accordance with Other Guidance The Company records revenue in accordance with ASC 606 from contracts with customers and ASC 842 from lease agreements, as well as government grants. Lease revenue recognized under ASC 842 is disclosed in Note 4 and government grant revenue is disclosed in Note 8. Timing of Revenue Recognition Revenue accounted for in accordance with ASC 606 consisted of the following for the periods presented below (in thousands): Three months ended September 30, 2024 Three months ended September 30, 2023 International US International US Telecom Telecom Total Telecom Telecom Total Services transferred over time $ 89,139 $ 69,856 $ 158,995 $ 87,657 $ 81,459 $ 169,116 Goods and services transferred at a point in time 3,591 2,016 5,607 4,752 4,111 8,863 Total revenue accounted for under ASC 606 $ 92,730 $ 71,872 $ 164,602 $ 92,409 $ 85,570 $ 177,979 Operating lease income 157 1,918 2,075 72 1,876 1,948 Government grant revenue (1) 1,394 10,380 11,774 1,397 9,712 11,109 Total revenue $ 94,281 $ 84,170 $ 178,451 $ 93,878 $ 97,158 $ 191,036 Nine months ended September 30, 2024 Nine months ended September 30, 2023 International US International US Telecom Telecom Total Telecom Telecom Total Services transferred over time $ 267,970 $ 219,728 $ 487,698 $ 260,066 $ 242,862 $ 502,928 Goods and services transferred at a point in time 10,243 8,935 19,178 11,792 9,255 21,047 Total revenue accounted for under ASC 606 $ 278,213 $ 228,663 $ 506,876 $ 271,858 $ 252,117 $ 523,975 Operating lease income 304 5,989 6,293 217 5,593 5,810 Government grant revenue (1) 4,180 31,178 35,358 4,192 29,273 33,465 Total revenue $ 282,697 $ 265,830 $ 548,527 $ 276,267 $ 286,983 $ 563,250 (1) Revenue recognized from CAF II, USF and RDOF programs. Refer to Note 8. Contract Assets and Liabilities The Company recognizes contract assets and liabilities on its balance sheet. Contract assets represent unbilled amounts typically resulting from consumer Mobility 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. Mobility and Fixed revenue for postpaid customers is generally billed 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 Mobility services, sold to customers is recorded as deferred revenue prior to the commencement of services. Contract liabilities also include certain long term fixed business and carrier service customer contracts. The current portion of contract liabilities are recorded in advanced payments and deposits and the noncurrent portion is included in deferred revenue, long-term on the Company’s balance sheets. In July 2019, the Company entered into a Network Build and Maintenance Agreement with AT&T Mobility, LLC (“AT&T”) that was subsequently amended through December 31, 2023 (the “FirstNet Agreement”). In connection with the FirstNet Agreement, the Company is building a portion of AT&T’s network for the First Responder Network Authority in or near the Company’s current operating areas in the western United States (the “FirstNet Transaction”). The FirstNet Transaction includes construction and service performance obligations. The current portion of receivables under this agreement is recorded in customer receivable and the long-term portion is recorded in customer receivable long-term on the Company’s balance sheet. In May 2023, the Company amended its current roaming agreement and entered into a carrier management services agreement with Verizon Wireless (the “Verizon CMS Agreement”). The transaction includes service performance obligations under which revenue is recognized over time. The Company allocates the transaction price of these agreements 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. Contract assets and liabilities consisted of the following (amounts in thousands): September 30, 2024 December 31, 2023 $ Change % Change Contract asset – current $ 3,657 $ 3,616 $ 41 1.1 % Contract asset – noncurrent 4,846 5,509 (663) (12.0) % Contract liability – current (30,319) (30,990) 671 (2.2) % Contract liability – noncurrent (57,177) (64,035) 6,858 (10.7) % Net contract liability $ (78,993) $ (85,900) $ 6,907 (8.0) % The decrease in the Company’s net contract liability was due to the timing of customer prepayments, contract billings, and recognition of deferred revenue. During the nine months ended September 30, 2024, the Company recognized revenue of Contract Acquisition Costs The September 30, 2024 and December 31, 2023 balance sheets include contract acquisition costs of $10.9 million and $11.3 million, respectively, in other assets. . During the three and nine months ended September 30, 2023, the Company amortized Remaining Performance Obligations Remaining performance obligations represent the transaction price allocated to unsatisfied performance obligations of certain multiyear Mobility and Fixed communication services contracts, Managed Services contracts, and the Company’s Carrier Services construction and service contracts. The transaction price allocated to unsatisfied performance obligations was million at September 30, 2024. The Company expects to satisfy approximately p p r o x i m a t e l million annually from 2026 through 2031. The Company has elected the practical expedient to exclude revenue related to contracts of less than one year, generally month-to-month contracts, and contracts with a fixed per-unit price and variable quantity, from the remaining performance obligation estimate. 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, Construction, and Other revenue. Communication Services revenue is further disaggregated into business and consumer Mobility, business and consumer Fixed, Carrier Services, and Other services. Other revenue is further disaggregated into Managed Services revenue. Receivables The Company records an estimate of future credit losses in conjunction with revenue transactions based on the information available including historical experience and management’s expectations of future conditions. Those estimates are updated as additional information becomes available. The Company’s allowance for uncollectible accounts receivable is based on management’s assessment of the collectability of assets pooled together with similar risk characteristics. The Company had gross accounts receivable of $104.0 million and an allowance for credit losses of $15.3 million as of September 30, 2024. In addition, the Company had receivables under the FirstNet Agreement totaling million was long-term. At December 31, 2023, the Company had gross accounts receivable of million was long-term. The Company monitors receivables through the use of historical operating data adjusted for the expectation of future performance as appropriate. Nine months ended September 30, 2024 September 30, 2023 Balance at beginning of period $ 16,362 $ 15,171 Current period provision for expected losses 4,209 4,014 Write-offs charged against the allowance (5,511) (3,017) Recoveries collected 255 414 Balance at end of period $ 15,315 $ 16,582

LEASES

LEASES	9 Months Ended
LEASES	Sep. 30, 2024
LEASES
LEASES	4. LEASES Lessee Disclosure The Company has operating and financing leases for towers, land, corporate offices, retail facilities, and data transport capacity. The lease terms three Supplemental lease information The components of lease expense were as follows (in thousands): Three months ended Nine months ended September 30, 2024 September 30, 2023 September 30, 2024 September 30, 2023 Operating lease cost: Operating lease cost $ 5,884 $ 5,975 $ 16,989 $ 17,719 Short-term lease cost 657 655 2,105 1,958 Variable lease cost 1,415 1,266 4,539 3,311 Total operating lease cost $ 7,956 $ 7,896 $ 23,633 $ 22,988 Finance lease cost: Amortization of right-of-use asset $ 1,647 $ 735 $ 3,235 $ 2,239 Variable costs 170 211 538 641 Interest costs 87 103 287 265 Total finance lease cost $ 1,904 $ 1,049 $ 4,060 $ 3,145 During the nine months ended September 30, 2024 and 2023, the Company paid $14.8 million and $14.6 million, respectively, for operating lease liabilities. During the nine months ended September 30, 2024 and 2023, the Company recorded $11.5 million and $15.8 million, respectively, of operating lease liabilities arising from right of use assets. During the nine months ended September 30, 2023, in conjunction with the restructuring activities the Company terminated certain leases and removed $5.6 million of lease right of use assets and $5.9 million of lease liabilities from its balance sheet, resulting in the recording of a gain of $0.3 million in the restructuring expense line of its statement of operations. At September 30, 2024, finance leases with a cost of $32.3 million and accumulated amortization of $19.5 million were included in fixed assets, net. During the nine months ended September 30, 2024, the Company paid $1.4 million of financing cash flows and $0.3 million of operating cash flows for finance lease liabilities. During the nine months ended September 30, 2023, the Company paid million of operating cash flows for finance lease liabilities. At September 30, 2024, finance leases had a lease liability of At December 31, 2023, finance leases with a cost of $31.7 million and accumulated amortization of $16.4 million were included in fixed assets, net. The weighted average remaining lease terms and discount rates as of September 30, 2024 and December 31, 2023 are noted in the table below: September 30, 2024 December 31, 2023 Weighted-average remaining lease term Operating leases 12.6 years 13.3 years Financing leases 4.8 years 9.2 years Weighted-average discount rate Operating leases 6.7% 6.3% Financing leases 7.3% 6.6% Maturities of lease liabilities as of September 30, 2024 were as follows (in thousands): Operating Leases Financing Leases 2024 (excluding the nine months ended September 30, 2024) $ 4,957 $ 543 2025 18,858 1,541 2026 15,023 721 2027 12,143 685 2028 9,273 554 Thereafter 84,025 2,145 Total lease payments 144,279 6,189 Less imputed interest (56,694) (1,431) Total $ 87,585 $ 4,758 Maturities of lease liabilities as of December 31, 2023 were as follows (in thousands): Operating Leases Financing Leases 2024 $ 18,048 $ 2,030 2025 16,022 1,488 2026 11,755 601 2027 9,327 534 2028 7,807 505 Thereafter 80,637 2,145 Total lease payments 143,596 7,303 Less imputed interest (57,133) (1,662) Total $ 86,463 $ 5,641 As of September 30, 2024, the Company did not have any material operating or finance leases that have not yet commenced. Lessor Disclosure The Company is the lessor in agreements to lease the use of its network assets including its wireless cell sites and buildings. For the nine months ended September 30, 2024 and 2023, the Company recorded million, respectively, of lease income from agreements in which the Company is the lessor. Lease income is classified as Carrier Services revenue in the statement of operations. The following table presents the maturities of future undiscounted lease payments for the periods indicated (in thousands): 2024 (excluding the nine months ended September 30, 2024) $ 1,837 2025 7,178 2026 6,848 2027 5,624 2028 5,228 Thereafter 13,568 Total future lease payments $ 40,283

USE OF ESTIMATES

USE OF ESTIMATES	9 Months Ended
USE OF ESTIMATES	Sep. 30, 2024
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 on trade receivables, useful lives of the Company’s fixed and finite-lived intangible assets, allocation of purchase price to assets acquired and liabilities assumed in business combinations, fair value of indefinite-lived intangible assets, goodwill and income taxes. Actual results could differ significantly from those estimates.

FAIR VALUE MEASUREMENTS AND INV

FAIR VALUE MEASUREMENTS AND INVESTMENTS	9 Months Ended
FAIR VALUE MEASUREMENTS AND INVESTMENTS	Sep. 30, 2024
FAIR VALUE MEASUREMENTS AND INVESTMENTS
FAIR VALUE MEASUREMENTS AND INVESTMENTS	6. 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 September 30, 2024 and December 31, 2023 are summarized as follows (in thousands): September 30, 2024 Significant Other Quoted Prices in Observable Unobservable Active Markets Inputs Inputs Description (Level 1) (Level 2) (Level 3) Total Short term investments $ 310 $ — $ — $ 310 Employee benefit plan investments 2,800 — — 2,800 Interest rate swap — (1,962) — (1,962) Alaska Communications redeemable common units — — — — Alloy redeemable common units (1) — — (10,834) (10,834) Warrants on Alaska Communications redeemable common units — — (249) (249) Total assets and liabilities measured at fair value $ 3,110 $ (1,962) $ (11,083) $ (9,935) December 31, 2023 Significant Other Quoted Prices in Observable Unobservable Active Markets Inputs Inputs Description (Level 1) (Level 2) (Level 3) Total Short term investments $ 300 $ — $ — $ 300 Other investments — — 1,197 1,197 Employee benefit plan investments 3,014 — — 3,014 Interest rate swap — (1,750) — (1,750) Alaska Communications redeemable common units — — (11,063) (11,063) Alloy redeemable common units (1) — — (14,760) (14,760) Warrants on Alaska Communications redeemable common units — — (249) (249) Total assets and liabilities measured at fair value $ 3,314 $ (1,750) $ (24,875) $ (23,311) (1) Represents redeemable common units in Alloy, Inc. (“Alloy”), the parent company of our operations in the western United States. Other Investments The Company holds investments in equity securities consisting of noncontrolling investments in privately held companies. The investments are accounted for using equity method accounting, the measurement alternative for investments without a readily determinable fair value, or fair value. The fair value investments are valued using Level 3 inputs and the Company used the income approach to fair value the investment. The inputs consisted of a discount rate and future cash flows calculated based on the investment attributes. Investments without a readily determinable fair value Fair value investments Equity method investments Total Balance, December 31, 2023 $ 41,710 $ 1,197 $ — $ 42,907 Income recognized 47 195 — 242 Distributions — (602) — (602) Sale of investment — (790) — (790) Balance, September 30, 2024 $ 41,757 $ — $ — $ 41,757 Balance, December 31, 2022 $ 22,590 $ 1,616 $ 13,963 $ 38,169 Income recognized 2,430 229 93 2,752 Contributions / (distributions) 425 (567) 630 488 Foreign currency gain — — 229 229 Reclassification of foreign currency losses — — 1,349 1,349 Transfers 16,264 — (16,264) — Balance, September 30, 2023 $ 41,709 $ 1,278 $ — $ 42,987 During the year ended December 31, 2023, the Company lost the ability to exert significant influence over its India solar investment. As a result, the Company transferred These investments are included with other assets on the consolidated balance sheets. Redeemable Common Units and Warrants The Company has issued redeemable common units, and warrants to purchase additional common units, in consolidated subsidiaries of the Company. The instruments are redeemable at the option of the holder. Both the common units and warrants to purchase common units are recorded at fair value in the Company’s financial statements. The common units are recorded in redeemable noncontrolling interest and the warrants are recorded in other liabilities on the Company’s balance sheets. The put options for the Alloy redeemable common units begin in November 2026. The put options for the Alaska Communications redeemable common units begin the earlier of a public offering or July 2028. The Company calculates the fair value of the instruments using a combination of market and discounted cash flows approaches with Level 3 inputs. 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 long-term debt is estimated using Level 2 inputs. At September 30, 2024, the fair value of long-term debt, including the current portion, was $575.6 million and its book value was $568.9 million. At December 31, 2023, the fair value of long-term debt, including the current portion, was $525.1 million and its book value was $516.9 million. The fair value of the customer receivable credit facility is estimated using Level 2 inputs. At September 30, 2024, the fair value of the customer receivable credit facility, including the current portion, was $45.3 million and its book value was $46.2 million. At December 31, 2023, the fair value of the customer receivable credit facility, including the current portion, was

LONG-TERM DEBT

LONG-TERM DEBT	9 Months Ended
LONG-TERM DEBT	Sep. 30, 2024
LONG-TERM DEBT
LONG-TERM DEBT	7. LONG-TERM DEBT 2023 CoBank Credit Facility On July 13, 2023, the Company, along with certain of its subsidiaries as guarantors, entered into a new Credit Agreement with CoBank, ACB and a syndicate of other lenders (as may be amended from time to time, the “2023 CoBank Credit Facility”). On July 10, 2024, the Company amended its credit facility to add certain subsidiaries as guarantors and to provide further flexibility for the Company to take on certain grant and government program obligations. The 2023 CoBank Credit Facility provides for a five-year $170 million revolving credit facility (the “2023 CoBank Revolving Loan”) and a six-year $130 million term loan facility (the “2023 CoBank Term Loan”). The Company may use (i) up to $25 million under the 2023 CoBank Credit Facility for letters of credit, and (ii) up to $20 million under a swingline sub-facility. Upon the closing of the 2023 CoBank Credit Facility, the Company drew all of the 2023 CoBank Term Loan and approximately $13.6 million of the 2023 CoBank Revolving Loan. These borrowings were used to repay $139.5 million of debt outstanding under the 2019 CoBank Credit Facility at close. The 2023 CoBank Term Loan must be repaid in quarterly principal payments in the amounts set forth below, with the outstanding principal balance maturing on July 13, 2029. The 2023 CoBank Revolving Loan may be repaid at any time on or prior to its maturity on July 13, 2028. All amounts outstanding under the 2023 CoBank Credit Facility will be due and payable upon the earlier of the maturity date or the acceleration of the loans and commitments upon an event of default. 2023 CoBank Term Loan Quarterly Payment Dates 2023 CoBank Term Loan Quarterly Repayments December 31, 2023 – June 30, 2025 $812,500 (2.5% per annum) September 30, 2025 – June 30, 2026 $1,625,000 (5% per annum) September 30, 2026 – June 30, 2029 $2,437,500 (7.5% per annum) Amounts borrowed under the 2023 CoBank Credit Facility bear interest at a rate equal to, at the Company’s option, either (i) the secured overnight financing rate as administered by the Federal Reserve Bank of New York (SOFR) plus an applicable margin ranging between 2.00% to 3.75% for the 2023 CoBank Term Loan or 1.75% to 3.50% for Revolving Loans or (ii) a base rate plus an applicable margin ranging from 1.00% to 2.75% for the Term Loan or 0.75% to 2.50% for the 2023 CoBank Revolving Loans. Swingline loans will bear interest at the base rate plus the applicable margin for base rate loans. The base rate is equal to the higher of (i) 1.00% plus the one-month SOFR rate (ii) the federal funds effective rate (as defined in the 2023 CoBank Credit Agreement) plus 0.50% per annum; and (iii) the prime rate (as defined in the 2023 CoBank Credit Agreement). The applicable margin is determined based on the ratio (as further defined in the 2023 CoBank Credit Agreement) of the Company’s maximum Total Net Leverage Ratio. Under the terms of the 2023 CoBank Credit Agreement, the Company must also pay a fee ranging from 0.25% to 0.50% on the average daily unused portion of the 2023 CoBank Credit Facility over each calendar quarter. The 2023 CoBank Credit Agreement contains a financial covenant (as further defined in the 2023 CoBank Credit Agreement) that imposes a maximum Total Net Leverage Ratio, as well as customary representations, warranties and covenants, including 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 maximum Total Net Leverage Ratio is measured each fiscal quarter and is required to be less than or equal to The 2023 CoBank Credit Agreement provides for events of default customary for credit facilities of this type, including but not limited to non-payment, defaults on other debt, misrepresentation, breach of covenants, representations and warranties, insolvency and bankruptcy. The Company capitalized $4.5 million of fees associated with the 2023 CoBank Credit Facility which are being amortized over the life of the debt and $3.5 million were unamortized as of September 30, 2024. The Company had $126.8 million outstanding under the 2023 CoBank Term Loan as of September 30, 2024. Under the 2023 CoBank Revolving Loan, the Company had $69.1 million outstanding and $100.9 million of availability as of September 30, 2024. The Company was in compliance with all financial covenants as of September 30, 2024. In October 2023, the Company entered into a two year , forward starting 1-month floating to fixed SOFR interest rate swap agreement. The swap was effective November 13, 2023 in a non-amortizing notional amount of . The swap agreement had a fair value of 2019 CoBank Credit Facility On April 10, 2019, the Company entered into a credit facility, with CoBank, ACB and a syndicate of other lenders (as amended, the “2019 CoBank Credit Facility”). The 2019 CoBank Credit Facility provided for a million under a swingline sub-facility. In connection with the execution of the 2023 CoBank Credit Facility, as defined above, outstanding borrowings under the 2019 CoBank Credit Facility were repaid in full. Amounts borrowed under the 2019 CoBank Credit Facility bore 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 bore interest at the base rate plus the applicable margin for base rate loans. The base rate was equal to the higher of (i) Letter of Credit Facility On November 14, 2022, the Company entered into a General Agreement of Indemnity to issue performance Standby Letters of Credit on behalf of the Company and its subsidiaries. As of September 30, 2024, 2024 Alaska Credit Facility On August 29, 2024, Alaska Communications (the “Borrower”) entered into a Credit Agreement (the “2024 Alaska Credit Agreement”) with Bank of America, N.A., as administrative agent, and a syndicate of lenders (the “2024 Alaska Credit Facility”), to provide debt financing in the form of a $300 million, five-year secured term loan facility (the “2024 Alaska Term Facility”) and a $90 million revolving facility (the “2024 Alaska Revolving Facility”). The 2024 Alaska Term Facility proceeds were used (a) to refinance Alaska Communications’ outstanding indebtedness under the 2022 Alaska Credit Facility, as defined below, in the amount of approximately $279 million plus accrued and unpaid interest, (b) to pay fees and expenses associated with the completion of this transaction, and (c) for general corporate purposes. As of September 30, 2024, Proceeds from the 2024 Alaska Revolving Facility are to be used, subject to certain limitations, (a) to issue letters of credit to replace or backstop existing letters of credit of Alaska Communications and its direct and indirect subsidiaries, and (b) for working capital purposes, capital expenditures and other general corporate purposes. As of September 30, 2024, there were no outstanding borrowings under the 2024 Alaska Revolving Facility and $1.3 million of letters of credit were issued. As a result, The 2024 Alaska Credit Facility also provides for incremental term loans (“Incremental Term Loans”) up to an aggregate principal amount of the greater of $91 million and Alaska Communications’ trailing consolidated twelve-month EBITDA (as defined in the 2024 Alaska Credit Agreement), subject to the Borrower meeting certain conditions. In connection with the 2024 Alaska Credit Facility, the Company incurred $6.9 million of fees and rolled over $2.1 million of fees from the 2022 Alaska Credit Facility to be amortized over the life of the debt. Additionally, the Company expensed million as a loss on extinguishment of debt included in other expense, within our statement of operations, during the three months ended September 30, 2024. The maturity date for the 2024 Alaska Credit Facility is August 29, 2029. Amounts outstanding under the 2024 Alaska Credit Facility bear an interest rate of the following: Tier / Level Alaska Communications Total Net Leverage Ratio Applicable Margin for Term SOFR Loans and L/C Participation Fees Applicable Margin for Base Rate Loans and Reimbursement Obligations Applicable Margin for Commitment Fees I Greater than 4.00:1.00 4.50% 3.50% 0.40% II Less than or equal to 4.00:1.00 but greater than 3.25:1.00 4.00% 3.00% 0.35% III Less than or equal to 3.25:1.00 but greater than 2.50:1.00 3.50% 2.50% 0.30% IV Less than or equal to 2.50:1.00 3.00% 2.00% 0.25% Principal payments on the 2024 Alaska Term Facility are due quarterly commencing in the fourth quarter of 2026 in quarterly amounts as follows: from the fourth quarter of 2026 through the third quarter of 2027, $1,875,000; and from the fourth quarter of 2027 through the second quarter of 2029, $3,750,000. The remaining unpaid balance is due on the final maturity date. Payments on any principal amount outstanding under the Incremental Term Loans will be made in installments, on the dates and in the amounts set forth in the applicable amendment for such Incremental Term Loans. The Borrower may prepay all revolving loans under the 2024 Alaska Revolving Facility at any time without premium or penalty (other than any customary SOFR breakage costs), subject to certain notice requirements and balance restrictions. The Borrower is required to maintain financial ratios, based on a calculation of EBITDA defined in the 2024 Alaska Credit Agreement, including (a) a maximum Consolidated Net Total Leverage Ratio of 4.75:1.00, stepping down to 4.50:1.00 beginning with the third quarter of 2027, and stepping down to 4.25:1.00 beginning with the third quarter of 2028; and (b) a minimum Consolidated Fixed Charge Coverage Ratio of not less than 1.25:1.00. Customary covenants restricting the incurrence or assumption of debt, granting or assuming liens, declaring dividends and making other restricted payments, making investments, dispositions, engaging in transactions with affiliates, changes to the nature of business, modifying organizational documents and material agreements, entering into sale and leaseback transactions, amending or making prepayments on certain subordinated debt, and entering into mergers and acquisitions. The 2024 Alaska Credit Facility is secured by substantially all of the personal property and certain material real property owned by Alaska Communications Systems Holdings, the parent company of Alaska Communications (“Holdings”), the Borrower, and its wholly owned subsidiaries, excluding, among other things, certain federal and state licenses where a pledge is prohibited by applicable law or is permitted only with the consent of a governmental authority that has not been obtained. The 2024 Alaska Credit Agreement contains usual and customary affirmative and negative covenants of the parties for credit facilities of this type or as otherwise deemed appropriate by the administrative agent, subject to customary exceptions and materiality standards. The 2024 Alaska Credit Agreement also contains certain customary covenants and events of default, as well as, in the event of an occurrence of an “Event of Default,” customary remedies for the lenders, including the acceleration of any amounts outstanding under the 2024 Alaska Credit Facility. Holdings and its wholly owned subsidiaries are guarantors of the Borrower’s obligations under the 2024 Alaska Credit Agreement. The Company is not a guarantor under the 2024 Alaska Credit Agreement, and the lenders have no recourse against the Company in the event of an occurrence of an “Event of Default.” Additionally, the 2024 Alaska Credit Agreement includes certain customary conditions that must be met for the Borrower to borrow under the 2024 Alaska Credit Agreement from time to time. 2022 Alaska Credit Facility On December 23, 2022, Alaska Communications entered into a Credit Agreement (the “2022 Alaska Credit Facility”) with Fifth Third Bank, National Association, as Administrative Agent, and a syndicate of lenders to provide a Revolving Credit Commitment of $75.0 million (the “2022 Alaska Revolving Facility”) and Term Loan Commitment of $230.0 million (the “2022 Alaska Term Loan”). The key terms and conditions of the 2022 Alaska Credit Facility included the following: ● Amounts outstanding bore an interest rate of the forward-looking SOFR rate with a one-month interest period, plus the SOFR Spread Adjustment of 10 basis points, plus a margin ranging from 3.00% to 4.00% based on Alaska Communications’ Consolidated Total Net Leverage Ratio (as defined in the Credit Agreement) or at an alternate base rate at a margin that is 1% lower than the counterpart SOFR margin; ● Principal repayments of $1.4 million were made quarterly commencing with the fourth quarter of 2023; ● Alaska Communications was required to maintain financial ratios as defined in the 2022 Alaska Credit Facility, including (a) a maximum Consolidated Net Total Leverage Ratio of 4.00 to 1, stepping down to 3.75 to 1 beginning with the second quarter of 2024; and (b) a minimum Consolidated Fixed Charge Coverage Ratio of not less than 1.25 to 1. In addition to these financial ratios, Alaska Communications was subject to customary representations, warranties and covenants, including limitations on additional indebtedness, liens, consolidations, mergers, assets sales, advances, investments and loans, transactions with affiliates, sale and leaseback transactions, subordinated indebtedness, and changes in the nature of its business; and ● The 2022 Alaska Credit Facility was non-recourse to the Company and is secured by substantially all of the personal property and certain material real property owned by Alaska Communications. On August 29, 2024, all outstanding amounts under the 2022 Alaska Credit Facility were repaid in full using the proceeds received upon the completion of the 2024 Alaska Credit Facility. Alaska Term Facility On June 15, 2022, Holdings entered into a secured lending arrangement with Bristol Bay Industrial, LLC (the “Alaska Term Facility”). The Alaska Term Facility provided for a secured delayed draw term loan in an aggregate principal amount of up to $7.5 million and the proceeds were used to pay certain invoices from a contractor for work performed in connection with a fiber build. Interest on the Alaska Term Facility accrued at a fixed rate of 4.0% and scheduled quarterly payments of principal commenced on March 31, 2023. The Alaska Term Facility was repaid in full during the three months ended June 30, 2024. Alaska Interest Rate Swap Agreements In November 2023, Alaska Communications entered into two forward starting 1-month floating to fixed SOFR interest rate swap agreements. The total non-amortizing notional amount of the agreements is $200.0 million, with fixed SOFR rates of 4.8695% and 4.8980% and both agreements mature on June 30, 2025. The swap agreements had a fair value of $(1.3) million and $(1.2) million as of September 30, 2024 and December 31, 2023, respectively. 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, and CoBank, ACB (the “Receivables Credit Facility”). The Receivables Credit Facility provides for a senior secured delayed draw term loan in an aggregate principal amount of up to $75.0 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 Facility, which provide the loan security, relate to the obligations of AT&T under the FirstNet Agreement. On December 19, 2023, CoBank amended the Receivables Credit Facility and extended the delayed draw period to December 31, 2024. 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 accrue at a fixed annual interest rate to be quoted by CoBank. The Receivables Credit Facility contains customary events of termination, representations and warranties, affirmative and negative covenants and events of default customary for facilities of this type. As of September 30, 2024, Commnet Wireless had $46.6 million outstanding, of which $7.9 million was classified as being current on the Company’s balance sheet, and $9.2 million of availability under the Receivables Credit Facility. Commnet Wireless capitalized One Communications (Guyana) Credit Facilities On October 12, 2022, One Communications (Guyana) f/k/a GTT received approval from Republic Bank (Guyana) Limited for a $2.9 million term facility and a $5.7 million overdraft facility (the “Guyana Credit Facilities”). The Guyana Credit Facilities are secured by real estate assets and carry a fixed interest rate of 7.5% which will be reviewed by the bank from time to time and subject to change at the bank’s discretion. The term facility is repayable over five years in equal monthly installments of principal and interest, commencing one month after funds are advanced. The overdraft facility will expire on February 28, 2025. As of September 30, 2024, there were no outstanding amounts under the GTT Credit Facilities. Sacred Wind Term Debt In connection with the Sacred Wind acquisition completed on November 7, 2022, the Company assumed $31.6 million of term debt (the “Sacred Wind Term Debt”) with the United States of America acting through the Administrator of the Rural Utilities Service (“RUS”). The loan agreements are dated as of October 23, 2006 and March 17, 2016. RUS provides financial assistance in the form of loans under the Rural Electrification Act of 1936 to furnish or improve telecommunications and/or broadband services in rural areas. The Sacred Wind Term Debt is secured by substantially all assets of Sacred Wind and an underlying mortgage to the United States of America. These mortgage notes are to be repaid in equal monthly installments covering principal and interest beginning after date of issue and expiring by 2035. The Sacred Wind Term Debt contains certain restrictions on the declaration or payment of dividends, redemption of capital stock or investment in affiliated companies without the consent by the RUS noteholders. The agreements also contain a financial covenant which Sacred Wind was not in compliance with as of December 31, 2021. Sacred Wind submitted a corrective action plan to comply with the financial covenant as of December 31, 2025. On May 5, 2022, Sacred Wind’s corrective action plan was accepted by the RUS. As of September 30, 2024, the Company was in compliance with that corrective action plan. As of September 30, 2024, $25.8 million was outstanding under the Sacred Wind Term Debt. Of that amount, The mortgage notes carry fixed interest rates ranging from 0.88% to 5.0%. Viya Debt The Company, and certain of its subsidiaries, have entered into a $60.0 million loan agreement (the “Viya Debt”) with Rural Telephone Finance Cooperative (“RTFC”). 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 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 per annum 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 Viya subsidiaries and is guaranteed by the Company. 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 September 30, 2024, $60.0 million of the Viya Debt remained outstanding and $0.2 million of the rate lock fee was unamortized. On May 5, 2022, RTFC agreed to amend the Net Leverage Ratio to 7.0 to 1.0 through the maturity date of July 1, 2026. The Ratio is tested annually, and the Company was in compliance with the Net Leverage Ratio as of December 31, 2023 Debt Maturity The table below summarizes the annual maturities of the Company’s debt instruments (amounts in thousands): Customer US International Corporate and Total Receivable Amounts Maturing During Telecom Telecom Other Debt Credit Facility October 1, 2024 through December 31, 2024 $ 919 $ — $ 813 $ 1,732 $ 1,950 Year ending December 31, 2025 3,469 — 4,875 8,344 8,027 Year ending December 31, 2026 5,469 60,000 8,125 73,594 8,405 Year ending December 31, 2027 13,098 — 9,750 22,848 8,803 Year ending December 31, 2028 18,858 — 78,870 97,728 9,224 Thereafter 283,942 — 93,437 377,379 10,198 Total 325,755 60,000 195,870 581,625 46,607 Debt Discounts (9,083) (175) (3,461) (12,719) (398) Book Value as of September 30, 2024 $ 316,672 $ 59,825 $ 192,409 $ 568,906 $ 46,209

GOVERNMENT SUPPORT AND SPECTRUM

GOVERNMENT SUPPORT AND SPECTRUM MATTERS	9 Months Ended
GOVERNMENT SUPPORT AND SPECTRUM MATTERS	Sep. 30, 2024
GOVERNMENT SUPPORT AND SPECTRUM MATTERS
GOVERNMENT SUPPORT AND SPECTRUM MATTERS	8. GOVERNMENT SUPPORT AND SPECTRUM MATTERS Universal Service Fund and Other Domestic Funding Programs The Company recognizes revenue from several government funded programs including the Universal Service Fund (“USF”), a subsidy program managed by the Federal Communications Commission (“FCC”), and the Alaska Universal Service Fund (“AUSF”), a similar program managed by the Regulatory Commission of Alaska (the “RCA”). USF funds are disbursed to telecommunication providers through four programs: the High Cost Program; the Low Income Program (“Lifeline Program”); the Schools and Libraries Program (“E-Rate Program”); and the Rural Health Care Support Program (“RHC”). The Company’s International Telecom segment receives $5.5 million of legacy frozen high cost support funding in the US Virgin Islands. This funding expires on December 31, 2025. Additionally, the Company recognizes revenue from the FCC’s Affordable Connectivity Program (“ACP”) and the Emergency Connectivity Fund (“ECF”). The ACP provides eligible low-income consumers with a monthly subsidy for broadband connectivity and the ECF provides schools and libraries with subsidies for broadband connectivity. Funding under the ACP and ECF programs expired in the second quarter of 2024. The Company’s US Telecom segment also recognizes High Cost support revenue from the Connect America Fund Phase II program (“CAF II”) and the Enhanced Alternative Connect America Cost Model program (“E-ACAM”). These programs offer subsidies to carriers to expand broadband coverage in designated areas. Under CAF II, the Company expects to receive an aggregate of million annually from January 2026 through July 2028. Under E-ACAM, the Company expects to receive a total of period beginning in 2024. The annual E-ACAM funding is approximately The Company was awarded approximately $22.7 million over 10 years to provide broadband and voice coverage to over 10,000 households in the United States (not including Alaska) under the 2020 Rural Digital Opportunity Fund Phase I Auction (“RDOF”). Revenue recognized from the RDOF program is recognized as revenue from government grants. During the nine months ended September 30, 2024, the Company entered into agreements to transfer $13.0 million of RDOF obligations. In conjunction with these agreements, the Company recorded a loss of $0.9 million as a loss disposition of assets and transfers during the three months September 30, 2024. The Company has a liability of $2.0 million accrued as of September 30, 2024, for the transfer agreements. The transfer applications are pending regulatory approval. All of the programs are subject to certain operational and reporting compliance requirements. The Company believes it is in compliance with these requirements as of September 30, 2024. Revenue recognized from the USF High Cost Program, including the CAF II and E-ACAM programs, is recognized as revenue from government grants. Revenue from other programs is recognized in accordance with ASC 606. The Company recorded the amounts below as communication services revenue for the reported periods (in thousands): Three months ended Three months ended September 30, 2024 September 30, 2023 US Telecom International Telecom Total US Telecom International Telecom Total High cost support $ 3,473 $ 1,394 $ 4,867 $ 2,288 $ 1,397 $ 3,685 CAF II 6,731 — 6,731 6,815 — 6,815 RDOF 175 — 175 608 — 608 ECF — — — 6,813 — 6,813 RHC 4,420 — 4,420 3,007 — 3,007 Other 1,908 3 1,911 4,997 5 5,002 Total $ 16,707 $ 1,397 $ 18,104 $ 24,528 $ 1,402 $ 25,930 Nine months ended Nine months ended September 30, 2024 September 30, 2023 US Telecom International Telecom Total US Telecom International Telecom Total High cost support $ 10,411 $ 4,180 $ 14,591 $ 7,004 $ 4,192 $ 11,196 CAF II 20,303 — 20,303 20,445 — 20,445 RDOF 465 — 465 1,824 — 1,824 ECF 7,312 — 7,312 21,694 — 21,694 RHC 11,539 — 11,539 8,795 — 8,795 Other 10,316 473 10,789 14,356 14 14,370 Total $ 60,346 $ 4,653 $ 64,999 $ 74,118 $ 4,206 $ 78,324 Construction Grants The Company has also been awarded construction grants to build network connectivity for eligible communities. The funding of these grants, used to reimburse the Company for its construction costs, is generally distributed after the Company incurs reimbursable costs. Completion deadlines begin in 2024 and once these projects are constructed, the Company is obligated to provide service to the participants. The Company expects to meet all requirements associated with these grants. A roll forward of the Company’s grant awards is below (in thousands). Amount Grants awarded, December 31, 2023 $ 100,149 New grants — Construction complete — Transferred grants — Grants awarded, September 30, 2024 $ 100,149 During the nine months ended September 30, 2024, the Company disbursed capital expenditures of $4.7 million under these programs and received reimbursement of $4.1 million. These cash flows are classified as investing activities in the Company’s statement of cash flows. In addition, the Company partners with tribal governments to obtain grants under various government programs including the Tribal Broadband Connectivity Program (“TBCP”) and the Rural Development Broadband ReConnect Program (“ReConnect”). The TBCP and ReConnect programs are administered by United States government agencies to deploy broadband connectivity in certain underserved areas. The Company was identified as a sub recipient of grants under these programs totaling million on construction obligations. These amounts are recorded as operating cash flows in the Company’s statement of cash flows. Replace and Remove Program On July 15, 2022, the Company was notified that it was an approved participant in the Federal Communication Commission’s Secure and Trusted Communications Networks Reimbursement Program (the “Replace and Remove Program”), designed to reimburse providers of communications services for reasonable costs incurred in the required removal, replacement, and disposal of covered communications equipment or services, that have been deemed to pose a national security risk, from their networks. Pursuant to the Replace and Remove Program, the Company was allocated up to approximately $207 million in reimbursement amounts to cover documented and approved costs to remove and securely destroy all ZTE communications equipment and services in its U.S. networks and replace such equipment. The Replace and Remove Program requires that the Company complete the project no later than one year from submitting its initial reimbursement request, or by July 2024. In April 2024, the FCC granted the Company’s request to extend the program’s completion deadlines to the first quarter of 2025. At this time, the Company anticipates that it will be able to meet the deadlines and requirements of the program. A summary of the amounts spent and reimbursed under the Replace and Remove Program is below (in thousands): Capital Operating Total Total spend, December 31, 2023 $ 49,262 $ 15,126 $ 64,388 Amounts spent 66,501 9,049 75,550 Total spend, September 30, 2024 $ 115,763 $ 24,175 $ 139,938 Total reimbursements, December 31, 2023 $ (12,773) $ (4,354) $ (17,127) Reimbursements received (68,450) (18,739) (87,189) Total reimbursements, September 30, 2024 $ (81,223) $ (23,093) $ (104,316) Amount pending reimbursement $ 34,540 $ 1,082 $ 35,622 Capital Operating Total Total spend, December 31, 2022 $ 1,836 $ 1,489 $ 3,325 Amounts spent 27,060 8,151 35,211 Total spend, September 30, 2023 $ 28,896 $ 9,640 $ 38,536 Total reimbursements, December 31, 2022 $ — $ — $ — Reimbursements received (833) (1,115) (1,948) Total reimbursements, September 30, 2023 $ (833) $ (1,115) $ (1,948) Amount pending reimbursement $ 28,063 $ 8,525 $ 36,588 At September 30, 2024, $31.1 million of the capital expenditures were accrued and unpaid. The Company expects to be reimbursed, within the next , for all amounts spent to date. Amounts identified as capital are recorded as investing cash flows and amounts identified as operating are recorded as operating cash flows in the Company’s statement of cash flows.

GOODWILL

GOODWILL	9 Months Ended
GOODWILL	Sep. 30, 2024
GOODWILL
GOODWILL	9. GOODWILL During the quarter ended September 30, 2024, the Company completed an impairment assessment for its US Telecom segment after identifying events that indicate that the fair value of a reporting unit may be below its carrying value. These events included, the Company’s continued shift away from wholesale roaming and retail operations towards carrier managed services and fixed broadband services, delays in completing significant network upgrade projects, the conclusion of certain government subsidy programs leading to slower consumer growth, and delays in enterprise sales and delivery. The combination of these events led to the reporting unit being unable to meet key financial and operational forecasted targets. The Company’s quantitative test for goodwill impairment involves a comparison of the estimated fair value of a reporting unit to its carrying amount, including goodwill. The Company determines the fair value of a reporting unit using the income approach. The income approach is based on a discounted cash flow (“DCF”) model. The DCF model requires the exercise of significant judgment, including judgments and assumptions about appropriate discount rates and revenue growth. Discount rates are based on a weighted average cost of capital (“WACC”), which represents the average rate a business must pay its providers of debt and equity. The revenue growth and cash flows employed in the DCF model were derived from internal earnings and forecasts and external market forecasts. As a result of that analysis, the Company recorded an impairment of $35.3 million during the three months ended September 30, 2024. International US Telecom Telecom Consolidated Balance at December 31, 2023 Goodwill $ 25,423 $ 35,268 $ 60,691 Accumulated Impairment (20,587) — (20,587) Goodwill, net of accumulated impairment 4,836 35,268 40,104 Balance at September 30, 2024 Goodwill 25,422 35,269 60,691 Accumulated Impairment (20,587) (35,269) (55,856) Goodwill, net of accumulated impairment $ 4,835 $ — $ 4,835

RETIREMENT PLANS

RETIREMENT PLANS	9 Months Ended
RETIREMENT PLANS	Sep. 30, 2024
RETIREMENT PLANS
RETIREMENT PLANS	10. RETIREMENT PLANS Multi-employer Defined Benefit Plan Pension benefits for substantially all of the Company’s Alaska-based employees are provided through the Alaska Electrical Pension Fund (“AEPF”). The Company pays a contractual hourly amount based on employee classification or base compensation to the AEPF. As a multi-employer defined benefit plan, the accumulated benefits and plan assets are not determined for, or allocated separately to, the individual employer. This plan was not in endangered or critical status during the plan year. Defined Benefit Plan The Company has noncontributory defined benefit pension and noncontributory defined medical, dental, vision, and life benefit plans for eligible employees who meet certain eligibility criteria. The majority of benefits under the plans are frozen and the plans no longer allow new participants to join. The Company recorded the net periodic benefit cost identified below (in thousands): Three months ended Nine months ended September 30, 2024 September 30, 2023 September 30, 2024 September 30, 2023 Pension benefits Postretirement benefits Pension benefits Postretirement benefits Pension benefits Postretirement benefits Pension benefits Postretirement benefits Operating expense Service cost $ 22 $ 16 $ 38 $ 31 $ 67 $ 49 $ 113 $ 62 Non-operating expense Interest cost 824 45 593 35 2,473 136 1,780 70 Expected return on plan assets (729) — (953) — (2,188) — (2,858) — Amortization of unrecognized actuarial gain (11) (28) — — (32) (84) — — Settlements — — — — — — 369 — Net periodic pension expense (benefit) $ 106 $ 33 $ (322) $ 66 $ 320 $ 101 $ (596) $ 132 The Company was not required to make contributions to its pension plans during the nine months ended September 30, 2024 and 2023. However, the Company periodically evaluates whether to make discretionary contributions. The Company funds its postretirement benefit plans as claims are made and did not make contributions to its pension plans during the nine months ended September 30, 2024 and 2023.

INCOME TAXES

INCOME TAXES	9 Months Ended
INCOME TAXES	Sep. 30, 2024
INCOME TAXES
INCOME TAXES	11. INCOME TAXES The Company’s effective tax rate for the three months ended September 30, 2024 and 2023 was 23.4% and 12.7% respectively. The Company recorded an income tax benefit of $12.0 million in relation to a pretax loss of $51.5 million for the three months ended September 30, 2024. The effective tax rate for the three months ended September 30, 2024 was primarily impacted by the following items (i) the mix of income generated among the jurisdictions in which the Company operates, (ii) net expense related to valuation allowances placed on certain deferred tax assets that are not expected to be realizable based on the weight of positive and negative evidence and (iii) discrete items including a The Company recorded an income tax benefit of $0.5 million in relation to a pretax loss of $4.3 million for the three months ended September 30, 2023. The effective tax rate for the three months ended September 30, 2023 was primarily impacted by the following items (i) the mix of income generated among the jurisdictions in which the Company operates, (ii) net expense related to valuation allowances placed on certain deferred tax assets that are not expected to be realizable based on the weight of positive and negative evidence and (iii) discrete item including a $0.7 million expense for interest on unrecognized tax positions. The Company’s effective tax rate for the nine months ended September 30, 2024 and 2023 was 22.1% and 35.8%, respectively. The Company recorded an income tax benefit of $10.2 million in relation to a pretax loss of $46.3 million for the nine months ended September 30, 2024. The effective tax rate for the nine months ended September 30, 2024 was primarily impacted by the following items (i) the mix of income generated among the jurisdictions in which the Company operates, (ii) net expense related to valuation allowances placed on certain deferred tax assets that are not expected to be realizable based on the weight of positive and negative evidence and (iii) discrete items including a The Company recorded an income tax benefit of $6.4 million in relation to a pretax loss of $17.8 million for the nine months ended September 30, 2023. The effective tax rate for the nine months ended September 30, 2023 was primarily impacted by the following items (i) the mix of income generated among the jurisdictions in which the Company operates, (ii) net expense related to valuation allowances placed on certain deferred tax assets that are not expected to be realizable based on the weight of positive and negative evidence and (iii) discrete items including a $4.0 million benefit from the reversal of an unrecognized tax position due to a statute of limitations expiration, and a $2.0 million expense for interest on unrecognized tax positions. 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 applications of tax law 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.

EARNINGS PER SHARE AND REDEEMAB

EARNINGS PER SHARE AND REDEEMABLE NONCONTROLLING INTERESTS	9 Months Ended
EARNINGS PER SHARE AND REDEEMABLE NONCONTROLLING INTERESTS	Sep. 30, 2024
EARNINGS PER SHARE AND REDEEMABLE NONCONTROLLING INTERESTS
EARNINGS PER SHARE AND REDEEMABLE NONCONTROLLING INTERESTS	12. EARNINGS PER SHARE AND REDEEMABLE NONCONTROLLING INTERESTS Earnings Per Share The following table reconciles the numerator and denominator in the computations of basic and diluted earnings per share (in thousands): Three months ended September 30, Nine months ended September 30, 2024 2023 2024 2023 Numerator: Net income (loss) attributable to ATN International, Inc. stockholders- Basic (32,691) (3,584) (30,000) (8,702) Less: Preferred dividends (1,426) (1,303) (4,154) (3,593) Net income (loss) attributable to ATN International, Inc. common stockholders- Diluted $ (34,117) $ (4,887) $ (34,154) $ (12,295) Denominator: Weighted-average shares outstanding- Basic 15,114 15,601 15,268 15,666 Weighted-average shares outstanding- Diluted 15,114 15,601 15,268 15,666 Redeemable Noncontrolling Interests In connection with certain acquisitions, the Company accounts for third-party non-controlling minority investments as redeemable noncontrolling interests, which consist of both redeemable common and, in some instances, preferred units, in its consolidated financial statements. The common units contain put options allowing the holder to sell at a future date, the common units to a subsidiary of the Company at the then fair market value. The common units participate in the earnings and losses of the subsidiaries and are allocated their applicable share of earnings and losses. After the allocation of earnings and losses, the Company estimates the fair value of the common units and records the common units at the higher of the book value of the common units or the estimated fair value. The preferred units contain put options allowing the holder to sell at a future date, the preferred units to a subsidiary of the Company at a fixed price equal to face value of the units plus unpaid dividends. The preferred units hold a distribution preference over common units and carry a fixed dividend rate. The put options for both the common and preferred units, if any, are nonrecourse to the Company. The put options for the Alloy common units are exercisable beginning in 2026 and the put options for the Alaska Communications common and preferred units are exercisable at the earlier of a future initial public offering of the subsidiary or January 1, 2028. For the three months ended September 30, 2024 and 2023, the Company allocated losses of $7.9 million and $1.6 million, respectively, to the redeemable common units representing their proportionate share of operating losses. For the nine month periods ended September 30, 2024 and 2023, the Company allocated losses of $14.1 million and $7.8 million, respectively, to the redeemable common units representing their proportionate share of operating losses. The Company then compared the book value of the common units to the fair value. As a result, the book value was decreased by The following table provides a roll forward of the activity related to the Company’s redeemable noncontrolling interests for the nine months ended September 30, 2024 and 2023 (in thousands): Redeemable Preferred Units Redeemable Common Units Total Redeemable Noncontrolling Interests Balance, December 31, 2023 $ 60,094 $ 25,823 $ 85,917 Accrued preferred dividend 4,154 — 4,154 Allocated net loss — (14,121) (14,121) Change in fair value — (867) (867) Balance, September 30, 2024 $ 64,248 $ 10,835 $ 75,083 Redeemable Preferred Units Redeemable Common Units Total Redeemable Noncontrolling Interests Balance, December 31, 2022 $ 55,152 $ 37,317 $ 92,469 Accrued preferred dividend 3,609 — 3,609 Allocated net loss — (7,788) (7,788) Change in fair value — 7,497 7,497 Balance, September 30, 2023 $ 58,761 $ 37,026 $ 95,787

SEGMENT REPORTING

SEGMENT REPORTING	9 Months Ended
SEGMENT REPORTING	Sep. 30, 2024
SEGMENT REPORTING
SEGMENT REPORTING	13. SEGMENT REPORTING The Company has the following two reportable and operating segments: i) International Telecom and ii) US Telecom. The following tables provide information for each operating segment (in thousands): For the Three Months Ended September 30, 2024 International US Corporate and Telecom Telecom Other (1) Consolidated Revenue Communication Services Mobility - Business $ 5,007 $ 68 $ — $ 5,075 Mobility - Consumer 21,802 638 — 22,440 Total Mobility 26,809 706 — 27,515 Fixed - Business 18,692 29,576 — 48,268 Fixed - Consumer 43,067 21,440 — 64,507 Total Fixed 61,759 51,016 — 112,775 Carrier Services 3,272 29,430 — 32,702 Other 1,175 255 — 1,430 Total Communication Services Revenue 93,015 81,407 — 174,422 Construction — 203 — 203 Other Managed Services 1,266 2,560 — 3,826 Total other revenue 1,266 2,560 — 3,826 Total Revenue 94,281 84,170 — 178,451 Depreciation and amortization 18,414 18,681 204 37,299 Amortization of intangibles from acquisitions 251 1,740 — 1,991 Stock-based compensation 102 157 1,572 1,831 Goodwill impairment — 35,269 — 35,269 Operating income (loss) 12,853 (44,333) (6,878) (38,358) (1) Corporate and other items refer to corporate overhead costs and consolidating adjustments. For the Three Months Ended September 30, 2023 International US Corporate and Telecom Telecom Other (1) Consolidated Revenue Communication Services Mobility - Business $ 3,818 $ 128 $ — $ 3,946 Mobility - Consumer 23,973 817 — 24,790 Total Mobility 27,791 945 — 28,736 Fixed - Business 18,016 35,680 — 53,696 Fixed - Consumer 41,967 22,662 — 64,629 Total Fixed 59,983 58,342 — 118,325 Carrier Services 3,441 32,319 — 35,760 Other 1,236 544 — 1,780 Total Communication Services Revenue 92,451 92,150 — 184,601 Construction — 2,038 — 2,038 Other Managed Services 1,427 2,970 — 4,397 Total Other Revenue 1,427 2,970 — 4,397 Total Revenue 93,878 97,158 — 191,036 Depreciation and amortization 14,354 19,398 618 34,370 Amortization of intangibles from acquisitions 240 2,884 — 3,124 Stock-based compensation 130 23 1,803 1,956 Operating income (loss) 12,800 3,017 (8,981) 6,836 (1) Corporate and other items refer to corporate overhead costs and consolidating adjustments. For the Nine Months Ended September 30, 2024 International US Corporate and Telecom Telecom Other (1) Consolidated Revenue Communication Services Mobility - Business $ 14,747 $ 209 $ — $ 14,956 Mobility - Consumer 64,910 2,103 — 67,013 Total Mobility 79,657 2,312 — 81,969 Fixed - Business 55,939 95,359 — 151,298 Fixed - Consumer 129,356 66,033 — 195,389 Total Fixed 185,295 161,392 — 346,687 Carrier Services 10,481 89,539 — 100,020 Other 3,038 1,341 — 4,379 Total Communication Services Revenue 278,471 254,584 — 533,055 Construction — 2,609 — 2,609 Other Managed Services 4,226 8,637 — 12,863 Total Other Revenue 4,226 8,637 — 12,863 Total Revenue 282,697 265,830 — 548,527 Depreciation and amortization 50,814 56,052 330 107,196 Amortization of intangibles from acquisitions 754 5,162 — 5,916 Stock-based compensation 319 483 5,719 6,521 Goodwill impairment — 35,269 — 35,269 Operating income (loss) 56,944 (42,852) (23,559) (9,467) (1) Corporate and other items refer to corporate overhead costs and consolidating adjustments. For the Nine Months Ended September 30, 2023 International US Corporate and Telecom Telecom Other (1) Consolidated Revenue Communication Services Mobility - Business $ 11,484 $ 415 $ — $ 11,899 Mobility - Consumer 69,270 2,666 — 71,936 Total Mobility 80,754 3,081 — 83,835 Fixed - Business 52,602 107,494 — 160,096 Fixed - Consumer 125,944 67,852 — 193,796 Total Fixed 178,546 175,346 — 353,892 Carrier Services 11,011 95,978 — 106,989 Other 2,084 684 — 2,768 Total Communication Services Revenue 272,395 275,089 — 547,484 Construction — 3,648 — 3,648 Other Managed Services 3,872 8,246 — 12,118 Total other revenue 3,872 8,246 — 12,118 Total Revenue 276,267 286,983 — 563,250 Depreciation and amortization 42,646 62,315 2,030 106,991 Amortization of intangibles from acquisitions 984 8,530 — 9,514 Stock-based compensation 307 109 6,057 6,473 Operating income (loss) 41,177 (3,719) (27,547) 9,911 (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 September 30, 2024 and December 31, 2023 consists of the following (in thousands): International US Corporate and Telecom Telecom Other Consolidated September 30, 2024 Cash, cash equivalents, and restricted cash $ 52,043 $ 62,772 $ 1,949 $ 116,764 Total current assets 149,987 167,440 8,179 325,606 Fixed assets, net 468,559 573,997 6,446 1,049,002 Goodwill 4,835 — — 4,835 Total assets 695,127 967,028 89,226 1,751,381 Total current liabilities 96,384 140,689 31,357 268,430 Total debt, including current portion 59,825 316,672 192,409 568,906 December 31, 2023 Cash, cash equivalents, and restricted cash $ 26,354 $ 33,574 $ 2,239 $ 62,167 Total current assets 107,469 162,768 11,035 281,272 Fixed assets, net 481,911 593,833 4,915 1,080,659 Goodwill 4,836 35,268 — 40,104 Total assets 672,171 1,019,924 91,619 1,783,714 Total current liabilities 86,540 169,297 37,357 293,194 Total debt, including current portion 64,254 293,607 159,009 516,870 For the nine months ended September 30, 2024 and 2023, the Company spent $157.5 million and $140.9 million, respectively, on capital expenditures relating to its telecommunications networks and business support systems of which $71.8 million and $14.3 million, respectively, are reimbursable under various government programs. The following notes the Company’s capital expenditures, by operating segment, for these periods (in thousands). Capital Expenditures International US Corporate and Nine months ended September 30, Telecom Telecom Other (1) Consolidated 2024 $ 39,440 $ 116,220 $ 1,861 $ 157,521 2023 57,610 83,291 — 140,901 (1) Corporate and other items refer to corporate overhead costs and consolidating adjustments .

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
COMMITMENTS AND CONTINGENCIES	Sep. 30, 2024
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. Historically, the Company’s subsidiary, GTT, has been subject to other long-standing litigation proceedings and disputes in Guyana that have not yet been resolved. 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 matters currently pending will not have a material adverse effect on the Company’s financial position or results of operations. Beginning in 2006, the National Frequency Management Unit (now the Telecommunications Agency, or the “NFMU/TA”) and GTT have been engaged in discussions regarding the amount of and methodology for calculation of spectrum fees payable by GTT in Guyana. Since that time, GTT has made payments of undisputed spectrum fees as amounts invoiced by the NFMU, and to its successor, the Telecommunications Authority (“TA”). There have been limited further discussions on the subject of a revised spectrum fee methodology with the TA. 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. Digicel filed counterclaims alleging that GTT has violated the terms of the interconnection agreement and Guyana laws. These suits, filed in 2010 and 2012, are currently pending in the Court of Appeals in Guyana, however, the Company cannot accurately predict at this time when the consolidated suit will reach a court of final determination. GTT is also involved in several legal claims regarding its tax filings with the Guyana Revenue Authority (the “GRA”) dating back to 1991 regarding the deductibility of intercompany advisory fees as well as other tax assessments. GTT has maintained that it has no unpaid corporation tax due to the GRA and that any liability GTT might be found to have with respect to the disputed tax assessments would be offset in part by the amounts claimed with respect to rights ATN has pursuant to its agreement with the government of Guyana. GTT’s position has been upheld by various High Court rulings made in its favor including most recently in February 2024, and while all matters have been appealed by the GRA, only one remains pending for determination by the High Court. In February 2020, the Company’s Alaska Communications subsidiary received a draft audit report from USAC in connection with USAC’s inquiry into Alaska Communications’ funding requests under the Rural Health Care Support Program for certain customers for the time period of July 2012 through June 2017. Alaska Communications also received a Letter of Inquiry on March 18, 2018, and subsequent follow up information requests, from the FCC Enforcement Bureau requesting historical information regarding Alaska Communications’ participation in the FCC’s Rural Health Care Support Program. On May 8, 2024, the Company entered into a Consent Decree with the FCC Enforcement Bureau, regarding both the USAC and FCC Enforcement Bureau’s investigation and agreed to (i) pay a settlement amount of approximately $6.3 million, and (ii) enter into a three-year compliance agreement in connection with Alaska Communication’s continued participation in the RHC Program. At this time, the Company believes that it can comply with all of the terms of the compliance agreement. The settlement amount of $6.3 million consists of a $5.3 million cash payment and the $1.0 million forgiveness of certain receivables, both of which have been accrued on the Company’s balance sheet as of September 30, 2024. As such, this settlement will not impact the statement of operations in future periods. With respect to all of the foregoing unresolved matters, the Company believes that some adverse outcome is probable and has accordingly accrued $13.1 million as of September 30, 2024 for these and other potential liabilities arising in various claims, legal actions and regulatory proceedings arising in the ordinary course of business. The Company also faces contingencies that are reasonably possible to occur that cannot currently be estimated. It is the Company’s policy to expense costs associated with loss contingencies, including any related legal fees, as they are incurred.

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Sep. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

BASIS OF PRESENTATION (Policies

BASIS OF PRESENTATION (Policies)	9 Months Ended
BASIS OF PRESENTATION (Policies)	Sep. 30, 2024
BASIS OF PRESENTATION
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 the periods described therein. 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, 2023, filed with the SEC on March 15, 2024. 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.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In December 2023, the FASB released ASU 2023-09, titled "Enhancements to Income Tax Disclosures," with the aim of improving the clarity and usefulness of income tax disclosures. The update focuses primarily on enhancing disclosures related to rate reconciliation and income taxes paid. ASU 2023-09 becomes effective for annual reporting periods starting after December 15, 2024, with early adoption permitted. While the changes prescribed by ASU 2023-09 are implemented prospectively, retrospective application is also allowed. The Company has chosen not to adopt this standard early and is currently assessing its potential impact on our consolidated financial statements and accompanying disclosures. In November 2023, the FASB issued ASU No. 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures” (ASU 2023-07), which requires that a public entity disclose, on an interim and annual basis, significant segment expense categories and amounts that are regularly provided to its chief operating decision maker (CODM) and included in each reported measure of segment profit or loss. An entity must also disclose, by reportable segment, the amount and composition of other expenses. The standard requires an entity to disclose the title and position of its CODM and explain how the CODM uses these reported measures in assessing segment performance and determining how to allocate resources. ASU 2023-07 will be effective for annual periods beginning after December 15, 2023, and interim periods beginning after December 31, 2024, with retrospective application. The Company will adopt the standard on January 1, 2025 and is currently evaluating the disclosure impacts of adoption.

ORGANIZATION AND BUSINESS OPE_2

ORGANIZATION AND BUSINESS OPERATIONS (Tables)	9 Months Ended
ORGANIZATION AND BUSINESS OPERATIONS (Tables)	Sep. 30, 2024
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	The following chart summarizes the operating activities of the Company’s principal subsidiaries, the segments in which it reports its revenue and the markets it served during the three months ended September 30, 2024: International Telecom US Telecom Services Markets Tradenames Services Markets Tradenames Mobility Services Bermuda, Guyana, US Virgin Islands One, GTT, Viya, Brava Mobility Services United States (rural markets) Choice, Choice NTUA Wireless Fixed Services Bermuda, Cayman Islands, Guyana, US Virgin Islands One, Logic, GTT, Viya, Brava Fixed Services United States Alaska Communications, Commnet, Choice, Choice NTUA Wireless, Sacred Wind Communications, Ethos, Deploycom Carrier Services Bermuda, Guyana, US Virgin Islands One, Essextel, GTT, Viya Carrier Services United States Alaska Communications, Commnet, Sacred Wind Communications Managed Services Bermuda, Cayman Islands, US Virgin Islands, Guyana Fireminds, One, Logic, GTT, Viya, Brava Managed Services United States Alaska Communications, Choice
Schedule of restructuring expenses	A summary of the costs is below (in thousands): US International Telecom Telecom Total Employee termination benefits $ 1,960 $ 4,681 $ 6,641 Contract termination costs 5,777 — 5,777 Total $ 7,737 $ 4,681 $ 12,418

REVENUE RECOGNITION AND RECEI_2

REVENUE RECOGNITION AND RECEIVABLES (Tables)	9 Months Ended
REVENUE RECOGNITION AND RECEIVABLES (Tables)	Sep. 30, 2024
REVENUE RECOGNITION AND RECEIVABLES
Summary of revenues	Revenue accounted for in accordance with ASC 606 consisted of the following for the periods presented below (in thousands): Three months ended September 30, 2024 Three months ended September 30, 2023 International US International US Telecom Telecom Total Telecom Telecom Total Services transferred over time $ 89,139 $ 69,856 $ 158,995 $ 87,657 $ 81,459 $ 169,116 Goods and services transferred at a point in time 3,591 2,016 5,607 4,752 4,111 8,863 Total revenue accounted for under ASC 606 $ 92,730 $ 71,872 $ 164,602 $ 92,409 $ 85,570 $ 177,979 Operating lease income 157 1,918 2,075 72 1,876 1,948 Government grant revenue (1) 1,394 10,380 11,774 1,397 9,712 11,109 Total revenue $ 94,281 $ 84,170 $ 178,451 $ 93,878 $ 97,158 $ 191,036 Nine months ended September 30, 2024 Nine months ended September 30, 2023 International US International US Telecom Telecom Total Telecom Telecom Total Services transferred over time $ 267,970 $ 219,728 $ 487,698 $ 260,066 $ 242,862 $ 502,928 Goods and services transferred at a point in time 10,243 8,935 19,178 11,792 9,255 21,047 Total revenue accounted for under ASC 606 $ 278,213 $ 228,663 $ 506,876 $ 271,858 $ 252,117 $ 523,975 Operating lease income 304 5,989 6,293 217 5,593 5,810 Government grant revenue (1) 4,180 31,178 35,358 4,192 29,273 33,465 Total revenue $ 282,697 $ 265,830 $ 548,527 $ 276,267 $ 286,983 $ 563,250 (1) Revenue recognized from CAF II, USF and RDOF programs. Refer to Note 8.
Summary of contracts asset and liabilities	Contract assets and liabilities consisted of the following (amounts in thousands): September 30, 2024 December 31, 2023 $ Change % Change Contract asset – current $ 3,657 $ 3,616 $ 41 1.1 % Contract asset – noncurrent 4,846 5,509 (663) (12.0) % Contract liability – current (30,319) (30,990) 671 (2.2) % Contract liability – noncurrent (57,177) (64,035) 6,858 (10.7) % Net contract liability $ (78,993) $ (85,900) $ 6,907 (8.0) %
Schedule of activity in allowances for credit losses	Activity in the allowance for credit losses is below (in thousands): Nine months ended September 30, 2024 September 30, 2023 Balance at beginning of period $ 16,362 $ 15,171 Current period provision for expected losses 4,209 4,014 Write-offs charged against the allowance (5,511) (3,017) Recoveries collected 255 414 Balance at end of period $ 15,315 $ 16,582

LEASES (Tables)

LEASES (Tables)	9 Months Ended
LEASES (Tables)	Sep. 30, 2024
LEASES
Summary of components of lease expense	The components of lease expense were as follows (in thousands): Three months ended Nine months ended September 30, 2024 September 30, 2023 September 30, 2024 September 30, 2023 Operating lease cost: Operating lease cost $ 5,884 $ 5,975 $ 16,989 $ 17,719 Short-term lease cost 657 655 2,105 1,958 Variable lease cost 1,415 1,266 4,539 3,311 Total operating lease cost $ 7,956 $ 7,896 $ 23,633 $ 22,988 Finance lease cost: Amortization of right-of-use asset $ 1,647 $ 735 $ 3,235 $ 2,239 Variable costs 170 211 538 641 Interest costs 87 103 287 265 Total finance lease cost $ 1,904 $ 1,049 $ 4,060 $ 3,145
Summary of weighted-average remaining lease term and discount rate	September 30, 2024 December 31, 2023 Weighted-average remaining lease term Operating leases 12.6 years 13.3 years Financing leases 4.8 years 9.2 years Weighted-average discount rate Operating leases 6.7% 6.3% Financing leases 7.3% 6.6%
Summary of maturities of operating lease liabilities	Maturities of lease liabilities as of September 30, 2024 were as follows (in thousands): Operating Leases Financing Leases 2024 (excluding the nine months ended September 30, 2024) $ 4,957 $ 543 2025 18,858 1,541 2026 15,023 721 2027 12,143 685 2028 9,273 554 Thereafter 84,025 2,145 Total lease payments 144,279 6,189 Less imputed interest (56,694) (1,431) Total $ 87,585 $ 4,758 Maturities of lease liabilities as of December 31, 2023 were as follows (in thousands): Operating Leases Financing Leases 2024 $ 18,048 $ 2,030 2025 16,022 1,488 2026 11,755 601 2027 9,327 534 2028 7,807 505 Thereafter 80,637 2,145 Total lease payments 143,596 7,303 Less imputed interest (57,133) (1,662) Total $ 86,463 $ 5,641
Summary of maturities of finance lease liabilities	Operating Leases Financing Leases 2024 (excluding the nine months ended September 30, 2024) $ 4,957 $ 543 2025 18,858 1,541 2026 15,023 721 2027 12,143 685 2028 9,273 554 Thereafter 84,025 2,145 Total lease payments 144,279 6,189 Less imputed interest (56,694) (1,431) Total $ 87,585 $ 4,758 Operating Leases Financing Leases 2024 $ 18,048 $ 2,030 2025 16,022 1,488 2026 11,755 601 2027 9,327 534 2028 7,807 505 Thereafter 80,637 2,145 Total lease payments 143,596 7,303 Less imputed interest (57,133) (1,662) Total $ 86,463 $ 5,641
Schedule of maturities of future undiscounted lease payments	The following table presents the maturities of future undiscounted lease payments for the periods indicated (in thousands): 2024 (excluding the nine months ended September 30, 2024) $ 1,837 2025 7,178 2026 6,848 2027 5,624 2028 5,228 Thereafter 13,568 Total future lease payments $ 40,283

FAIR VALUE MEASUREMENTS AND I_2

FAIR VALUE MEASUREMENTS AND INVESTMENTS (Tables)	9 Months Ended
FAIR VALUE MEASUREMENTS AND INVESTMENTS (Tables)	Sep. 30, 2024
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 September 30, 2024 and December 31, 2023 are summarized as follows (in thousands): September 30, 2024 Significant Other Quoted Prices in Observable Unobservable Active Markets Inputs Inputs Description (Level 1) (Level 2) (Level 3) Total Short term investments $ 310 $ — $ — $ 310 Employee benefit plan investments 2,800 — — 2,800 Interest rate swap — (1,962) — (1,962) Alaska Communications redeemable common units — — — — Alloy redeemable common units (1) — — (10,834) (10,834) Warrants on Alaska Communications redeemable common units — — (249) (249) Total assets and liabilities measured at fair value $ 3,110 $ (1,962) $ (11,083) $ (9,935) December 31, 2023 Significant Other Quoted Prices in Observable Unobservable Active Markets Inputs Inputs Description (Level 1) (Level 2) (Level 3) Total Short term investments $ 300 $ — $ — $ 300 Other investments — — 1,197 1,197 Employee benefit plan investments 3,014 — — 3,014 Interest rate swap — (1,750) — (1,750) Alaska Communications redeemable common units — — (11,063) (11,063) Alloy redeemable common units (1) — — (14,760) (14,760) Warrants on Alaska Communications redeemable common units — — (249) (249) Total assets and liabilities measured at fair value $ 3,314 $ (1,750) $ (24,875) $ (23,311)
Schedule of investments	A roll forward of the investments is below (in thousands) Investments without a readily determinable fair value Fair value investments Equity method investments Total Balance, December 31, 2023 $ 41,710 $ 1,197 $ — $ 42,907 Income recognized 47 195 — 242 Distributions — (602) — (602) Sale of investment — (790) — (790) Balance, September 30, 2024 $ 41,757 $ — $ — $ 41,757 Balance, December 31, 2022 $ 22,590 $ 1,616 $ 13,963 $ 38,169 Income recognized 2,430 229 93 2,752 Contributions / (distributions) 425 (567) 630 488 Foreign currency gain — — 229 229 Reclassification of foreign currency losses — — 1,349 1,349 Transfers 16,264 — (16,264) — Balance, September 30, 2023 $ 41,709 $ 1,278 $ — $ 42,987

LONG-TERM DEBT (Tables)

LONG-TERM DEBT (Tables)	9 Months Ended
LONG-TERM DEBT (Tables)	Sep. 30, 2024
LONG-TERM DEBT
Schedule of quarterly repayments	2023 CoBank Term Loan Quarterly Payment Dates 2023 CoBank Term Loan Quarterly Repayments December 31, 2023 – June 30, 2025 $812,500 (2.5% per annum) September 30, 2025 – June 30, 2026 $1,625,000 (5% per annum) September 30, 2026 – June 30, 2029 $2,437,500 (7.5% per annum)
Schedule of line of credit facilities interest rate	Tier / Level Alaska Communications Total Net Leverage Ratio Applicable Margin for Term SOFR Loans and L/C Participation Fees Applicable Margin for Base Rate Loans and Reimbursement Obligations Applicable Margin for Commitment Fees I Greater than 4.00:1.00 4.50% 3.50% 0.40% II Less than or equal to 4.00:1.00 but greater than 3.25:1.00 4.00% 3.00% 0.35% III Less than or equal to 3.25:1.00 but greater than 2.50:1.00 3.50% 2.50% 0.30% IV Less than or equal to 2.50:1.00 3.00% 2.00% 0.25%
Schedule of future principal repayments annual maturities of the Company's debt instruments	The table below summarizes the annual maturities of the Company’s debt instruments (amounts in thousands): Customer US International Corporate and Total Receivable Amounts Maturing During Telecom Telecom Other Debt Credit Facility October 1, 2024 through December 31, 2024 $ 919 $ — $ 813 $ 1,732 $ 1,950 Year ending December 31, 2025 3,469 — 4,875 8,344 8,027 Year ending December 31, 2026 5,469 60,000 8,125 73,594 8,405 Year ending December 31, 2027 13,098 — 9,750 22,848 8,803 Year ending December 31, 2028 18,858 — 78,870 97,728 9,224 Thereafter 283,942 — 93,437 377,379 10,198 Total 325,755 60,000 195,870 581,625 46,607 Debt Discounts (9,083) (175) (3,461) (12,719) (398) Book Value as of September 30, 2024 $ 316,672 $ 59,825 $ 192,409 $ 568,906 $ 46,209

GOVERNMENT SUPPORT AND SPECTR_2

GOVERNMENT SUPPORT AND SPECTRUM MATTERS (Tables)	9 Months Ended
GOVERNMENT SUPPORT AND SPECTRUM MATTERS (Tables)	Sep. 30, 2024
Disaggregation of Revenue [Line Items]
Summary of revenues	Revenue accounted for in accordance with ASC 606 consisted of the following for the periods presented below (in thousands): Three months ended September 30, 2024 Three months ended September 30, 2023 International US International US Telecom Telecom Total Telecom Telecom Total Services transferred over time $ 89,139 $ 69,856 $ 158,995 $ 87,657 $ 81,459 $ 169,116 Goods and services transferred at a point in time 3,591 2,016 5,607 4,752 4,111 8,863 Total revenue accounted for under ASC 606 $ 92,730 $ 71,872 $ 164,602 $ 92,409 $ 85,570 $ 177,979 Operating lease income 157 1,918 2,075 72 1,876 1,948 Government grant revenue (1) 1,394 10,380 11,774 1,397 9,712 11,109 Total revenue $ 94,281 $ 84,170 $ 178,451 $ 93,878 $ 97,158 $ 191,036 Nine months ended September 30, 2024 Nine months ended September 30, 2023 International US International US Telecom Telecom Total Telecom Telecom Total Services transferred over time $ 267,970 $ 219,728 $ 487,698 $ 260,066 $ 242,862 $ 502,928 Goods and services transferred at a point in time 10,243 8,935 19,178 11,792 9,255 21,047 Total revenue accounted for under ASC 606 $ 278,213 $ 228,663 $ 506,876 $ 271,858 $ 252,117 $ 523,975 Operating lease income 304 5,989 6,293 217 5,593 5,810 Government grant revenue (1) 4,180 31,178 35,358 4,192 29,273 33,465 Total revenue $ 282,697 $ 265,830 $ 548,527 $ 276,267 $ 286,983 $ 563,250 (1) Revenue recognized from CAF II, USF and RDOF programs. Refer to Note 8.
Network Connectivity for Eligible Communities
Disaggregation of Revenue [Line Items]
Schedule of grant funds	The Company has also been awarded construction grants to build network connectivity for eligible communities. The funding of these grants, used to reimburse the Company for its construction costs, is generally distributed after the Company incurs reimbursable costs. Completion deadlines begin in 2024 and once these projects are constructed, the Company is obligated to provide service to the participants. The Company expects to meet all requirements associated with these grants. A roll forward of the Company’s grant awards is below (in thousands). Amount Grants awarded, December 31, 2023 $ 100,149 New grants — Construction complete — Transferred grants — Grants awarded, September 30, 2024 $ 100,149
Remove And Replace Program
Disaggregation of Revenue [Line Items]
Schedule of grant funds	A summary of the amounts spent and reimbursed under the Replace and Remove Program is below (in thousands): Capital Operating Total Total spend, December 31, 2023 $ 49,262 $ 15,126 $ 64,388 Amounts spent 66,501 9,049 75,550 Total spend, September 30, 2024 $ 115,763 $ 24,175 $ 139,938 Total reimbursements, December 31, 2023 $ (12,773) $ (4,354) $ (17,127) Reimbursements received (68,450) (18,739) (87,189) Total reimbursements, September 30, 2024 $ (81,223) $ (23,093) $ (104,316) Amount pending reimbursement $ 34,540 $ 1,082 $ 35,622 Capital Operating Total Total spend, December 31, 2022 $ 1,836 $ 1,489 $ 3,325 Amounts spent 27,060 8,151 35,211 Total spend, September 30, 2023 $ 28,896 $ 9,640 $ 38,536 Total reimbursements, December 31, 2022 $ — $ — $ — Reimbursements received (833) (1,115) (1,948) Total reimbursements, September 30, 2023 $ (833) $ (1,115) $ (1,948) Amount pending reimbursement $ 28,063 $ 8,525 $ 36,588
Communication services
Disaggregation of Revenue [Line Items]
Summary of revenues	The Company recorded the amounts below as communication services revenue for the reported periods (in thousands): Three months ended Three months ended September 30, 2024 September 30, 2023 US Telecom International Telecom Total US Telecom International Telecom Total High cost support $ 3,473 $ 1,394 $ 4,867 $ 2,288 $ 1,397 $ 3,685 CAF II 6,731 — 6,731 6,815 — 6,815 RDOF 175 — 175 608 — 608 ECF — — — 6,813 — 6,813 RHC 4,420 — 4,420 3,007 — 3,007 Other 1,908 3 1,911 4,997 5 5,002 Total $ 16,707 $ 1,397 $ 18,104 $ 24,528 $ 1,402 $ 25,930 Nine months ended Nine months ended September 30, 2024 September 30, 2023 US Telecom International Telecom Total US Telecom International Telecom Total High cost support $ 10,411 $ 4,180 $ 14,591 $ 7,004 $ 4,192 $ 11,196 CAF II 20,303 — 20,303 20,445 — 20,445 RDOF 465 — 465 1,824 — 1,824 ECF 7,312 — 7,312 21,694 — 21,694 RHC 11,539 — 11,539 8,795 — 8,795 Other 10,316 473 10,789 14,356 14 14,370 Total $ 60,346 $ 4,653 $ 64,999 $ 74,118 $ 4,206 $ 78,324

GOODWILL (Tables)

GOODWILL (Tables)	9 Months Ended
GOODWILL (Tables)	Sep. 30, 2024
GOODWILL
Schedule of company's segments and accumulated impairment changes	The table below discloses goodwill recorded in each of the Company’s segments and accumulated impairment changes (in thousands): International US Telecom Telecom Consolidated Balance at December 31, 2023 Goodwill $ 25,423 $ 35,268 $ 60,691 Accumulated Impairment (20,587) — (20,587) Goodwill, net of accumulated impairment 4,836 35,268 40,104 Balance at September 30, 2024 Goodwill 25,422 35,269 60,691 Accumulated Impairment (20,587) (35,269) (55,856) Goodwill, net of accumulated impairment $ 4,835 $ — $ 4,835

RETIREMENT PLANS (Tables)

RETIREMENT PLANS (Tables)	9 Months Ended
RETIREMENT PLANS (Tables)	Sep. 30, 2024
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 Nine months ended September 30, 2024 September 30, 2023 September 30, 2024 September 30, 2023 Pension benefits Postretirement benefits Pension benefits Postretirement benefits Pension benefits Postretirement benefits Pension benefits Postretirement benefits Operating expense Service cost $ 22 $ 16 $ 38 $ 31 $ 67 $ 49 $ 113 $ 62 Non-operating expense Interest cost 824 45 593 35 2,473 136 1,780 70 Expected return on plan assets (729) — (953) — (2,188) — (2,858) — Amortization of unrecognized actuarial gain (11) (28) — — (32) (84) — — Settlements — — — — — — 369 — Net periodic pension expense (benefit) $ 106 $ 33 $ (322) $ 66 $ 320 $ 101 $ (596) $ 132

EARNINGS PER SHARE AND REDEEM_2

EARNINGS PER SHARE AND REDEEMABLE NONCONTROLLING INTERESTS (Tables)	9 Months Ended
	Sep. 30, 2024
EARNINGS PER SHARE AND REDEEMABLE NONCONTROLLING INTERESTS
Schedule of computation of basic and diluted earnings per share	The following table reconciles the numerator and denominator in the computations of basic and diluted earnings per share (in thousands): Three months ended September 30, Nine months ended September 30, 2024 2023 2024 2023 Numerator: Net income (loss) attributable to ATN International, Inc. stockholders- Basic (32,691) (3,584) (30,000) (8,702) Less: Preferred dividends (1,426) (1,303) (4,154) (3,593) Net income (loss) attributable to ATN International, Inc. common stockholders- Diluted $ (34,117) $ (4,887) $ (34,154) $ (12,295) Denominator: Weighted-average shares outstanding- Basic 15,114 15,601 15,268 15,666 Weighted-average shares outstanding- Diluted 15,114 15,601 15,268 15,666
Schedule of rollforward activity related to the Company's redeemable noncontrolling interests	The following table provides a roll forward of the activity related to the Company’s redeemable noncontrolling interests for the nine months ended September 30, 2024 and 2023 (in thousands): Redeemable Preferred Units Redeemable Common Units Total Redeemable Noncontrolling Interests Balance, December 31, 2023 $ 60,094 $ 25,823 $ 85,917 Accrued preferred dividend 4,154 — 4,154 Allocated net loss — (14,121) (14,121) Change in fair value — (867) (867) Balance, September 30, 2024 $ 64,248 $ 10,835 $ 75,083 Redeemable Preferred Units Redeemable Common Units Total Redeemable Noncontrolling Interests Balance, December 31, 2022 $ 55,152 $ 37,317 $ 92,469 Accrued preferred dividend 3,609 — 3,609 Allocated net loss — (7,788) (7,788) Change in fair value — 7,497 7,497 Balance, September 30, 2023 $ 58,761 $ 37,026 $ 95,787

SEGMENT REPORTING (Tables)

SEGMENT REPORTING (Tables)	9 Months Ended
SEGMENT REPORTING (Tables)	Sep. 30, 2024
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 September 30, 2024 International US Corporate and Telecom Telecom Other (1) Consolidated Revenue Communication Services Mobility - Business $ 5,007 $ 68 $ — $ 5,075 Mobility - Consumer 21,802 638 — 22,440 Total Mobility 26,809 706 — 27,515 Fixed - Business 18,692 29,576 — 48,268 Fixed - Consumer 43,067 21,440 — 64,507 Total Fixed 61,759 51,016 — 112,775 Carrier Services 3,272 29,430 — 32,702 Other 1,175 255 — 1,430 Total Communication Services Revenue 93,015 81,407 — 174,422 Construction — 203 — 203 Other Managed Services 1,266 2,560 — 3,826 Total other revenue 1,266 2,560 — 3,826 Total Revenue 94,281 84,170 — 178,451 Depreciation and amortization 18,414 18,681 204 37,299 Amortization of intangibles from acquisitions 251 1,740 — 1,991 Stock-based compensation 102 157 1,572 1,831 Goodwill impairment — 35,269 — 35,269 Operating income (loss) 12,853 (44,333) (6,878) (38,358) (1) Corporate and other items refer to corporate overhead costs and consolidating adjustments. For the Three Months Ended September 30, 2023 International US Corporate and Telecom Telecom Other (1) Consolidated Revenue Communication Services Mobility - Business $ 3,818 $ 128 $ — $ 3,946 Mobility - Consumer 23,973 817 — 24,790 Total Mobility 27,791 945 — 28,736 Fixed - Business 18,016 35,680 — 53,696 Fixed - Consumer 41,967 22,662 — 64,629 Total Fixed 59,983 58,342 — 118,325 Carrier Services 3,441 32,319 — 35,760 Other 1,236 544 — 1,780 Total Communication Services Revenue 92,451 92,150 — 184,601 Construction — 2,038 — 2,038 Other Managed Services 1,427 2,970 — 4,397 Total Other Revenue 1,427 2,970 — 4,397 Total Revenue 93,878 97,158 — 191,036 Depreciation and amortization 14,354 19,398 618 34,370 Amortization of intangibles from acquisitions 240 2,884 — 3,124 Stock-based compensation 130 23 1,803 1,956 Operating income (loss) 12,800 3,017 (8,981) 6,836 (1) Corporate and other items refer to corporate overhead costs and consolidating adjustments. For the Nine Months Ended September 30, 2024 International US Corporate and Telecom Telecom Other (1) Consolidated Revenue Communication Services Mobility - Business $ 14,747 $ 209 $ — $ 14,956 Mobility - Consumer 64,910 2,103 — 67,013 Total Mobility 79,657 2,312 — 81,969 Fixed - Business 55,939 95,359 — 151,298 Fixed - Consumer 129,356 66,033 — 195,389 Total Fixed 185,295 161,392 — 346,687 Carrier Services 10,481 89,539 — 100,020 Other 3,038 1,341 — 4,379 Total Communication Services Revenue 278,471 254,584 — 533,055 Construction — 2,609 — 2,609 Other Managed Services 4,226 8,637 — 12,863 Total Other Revenue 4,226 8,637 — 12,863 Total Revenue 282,697 265,830 — 548,527 Depreciation and amortization 50,814 56,052 330 107,196 Amortization of intangibles from acquisitions 754 5,162 — 5,916 Stock-based compensation 319 483 5,719 6,521 Goodwill impairment — 35,269 — 35,269 Operating income (loss) 56,944 (42,852) (23,559) (9,467) (1) Corporate and other items refer to corporate overhead costs and consolidating adjustments. For the Nine Months Ended September 30, 2023 International US Corporate and Telecom Telecom Other (1) Consolidated Revenue Communication Services Mobility - Business $ 11,484 $ 415 $ — $ 11,899 Mobility - Consumer 69,270 2,666 — 71,936 Total Mobility 80,754 3,081 — 83,835 Fixed - Business 52,602 107,494 — 160,096 Fixed - Consumer 125,944 67,852 — 193,796 Total Fixed 178,546 175,346 — 353,892 Carrier Services 11,011 95,978 — 106,989 Other 2,084 684 — 2,768 Total Communication Services Revenue 272,395 275,089 — 547,484 Construction — 3,648 — 3,648 Other Managed Services 3,872 8,246 — 12,118 Total other revenue 3,872 8,246 — 12,118 Total Revenue 276,267 286,983 — 563,250 Depreciation and amortization 42,646 62,315 2,030 106,991 Amortization of intangibles from acquisitions 984 8,530 — 9,514 Stock-based compensation 307 109 6,057 6,473 Operating income (loss) 41,177 (3,719) (27,547) 9,911 (1) Corporate and other items refer to corporate overhead costs and consolidating adjustments.
Schedule of selected balance sheet data for each segment	Selected balance sheet data for each of the Company’s segments as of September 30, 2024 and December 31, 2023 consists of the following (in thousands): International US Corporate and Telecom Telecom Other Consolidated September 30, 2024 Cash, cash equivalents, and restricted cash $ 52,043 $ 62,772 $ 1,949 $ 116,764 Total current assets 149,987 167,440 8,179 325,606 Fixed assets, net 468,559 573,997 6,446 1,049,002 Goodwill 4,835 — — 4,835 Total assets 695,127 967,028 89,226 1,751,381 Total current liabilities 96,384 140,689 31,357 268,430 Total debt, including current portion 59,825 316,672 192,409 568,906 December 31, 2023 Cash, cash equivalents, and restricted cash $ 26,354 $ 33,574 $ 2,239 $ 62,167 Total current assets 107,469 162,768 11,035 281,272 Fixed assets, net 481,911 593,833 4,915 1,080,659 Goodwill 4,836 35,268 — 40,104 Total assets 672,171 1,019,924 91,619 1,783,714 Total current liabilities 86,540 169,297 37,357 293,194 Total debt, including current portion 64,254 293,607 159,009 516,870
Schedule of segment capital expenditures	The following notes the Company’s capital expenditures, by operating segment, for these periods (in thousands). Capital Expenditures International US Corporate and Nine months ended September 30, Telecom Telecom Other (1) Consolidated 2024 $ 39,440 $ 116,220 $ 1,861 $ 157,521 2023 57,610 83,291 — 140,901 (1) Corporate and other items refer to corporate overhead costs and consolidating adjustments .

ORGANIZATION AND BUSINESS OPE_3

ORGANIZATION AND BUSINESS OPERATIONS (Details)	9 Months Ended
ORGANIZATION AND BUSINESS OPERATIONS (Details)	Sep. 30, 2024 segment
ORGANIZATION AND BUSINESS OPERATIONS
Number of operating segments	2

ORGANIZATION AND BUSINESS OPE_4

ORGANIZATION AND BUSINESS OPERATIONS - Restructuring and reorganization expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		15 Months Ended	21 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Mar. 31, 2024	Sep. 30, 2024
Restructuring Expense
Restructuring Charges, Total	$ 2,345	$ 1,383	$ 3,535	$ 4,640
Gain on lease termination				300
Right of use assets terminated				5,600
Lease liabilities terminated				5,900
2023 Restructuring
Restructuring Expense
Employee termination benefits					$ 6,641
Contract termination costs					5,777
Payments for restructuring			5,700
Restructuring costs remain accrued	1,300		1,300			$ 1,300
Restructuring Charges, Total			1,200	$ 4,600	12,418
Restructure costs paid			5,700
Total restructure costs paid						11,400
Gain on lease termination						300
Right of use assets terminated						5,600
Lease liabilities terminated						5,900
2024 Reorganization
Restructuring Expense
Contract termination costs	2,300
Payments for restructuring	700
Restructuring costs remain accrued	1,600		$ 1,600			$ 1,600
Restructure costs paid	$ 700
US Telecom \| 2023 Restructuring
Restructuring Expense
Employee termination benefits					1,960
Contract termination costs					5,777
Restructuring Charges, Total					7,737
International Telecom \| 2023 Restructuring
Restructuring Expense
Employee termination benefits					4,681
Restructuring Charges, Total					$ 4,681

ORGANIZATION AND BUSINESS OPE_5

ORGANIZATION AND BUSINESS OPERATIONS - Asset Disposition (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Disposition
Cash proceeds received for disposal of fixed asset	$ 17,910
Fixed Assets, net	1,049,002	$ 1,080,659
Non-core fixed asset \| Disposal
Disposition
Gain on disposal of fixed asset	15,700
Cash proceeds received for disposal of fixed asset	17,800
Fixed Assets, net	500
Transaction costs	$ 1,600

REVENUE RECOGNITION AND RECEI_3

REVENUE RECOGNITION AND RECEIVABLES - Timing of Revenue Recognition (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
REVENUE RECOGNITION AND RECEIVABLES
Total revenue	$ 164,602	$ 177,979	$ 506,876	$ 523,975
Operating lease income	2,075	1,948	6,293	5,810
Government grant revenue	11,774	11,109	35,358	33,465
Total revenue	178,451	191,036	548,527	563,250
Services transferred over time
REVENUE RECOGNITION AND RECEIVABLES
Total revenue	158,995	169,116	487,698	502,928
Good and services transferred at point in time
REVENUE RECOGNITION AND RECEIVABLES
Total revenue	5,607	8,863	19,178	21,047
International Telecom
REVENUE RECOGNITION AND RECEIVABLES
Total revenue	92,730	92,409	278,213	271,858
Operating lease income	157	72	304	217
Government grant revenue	1,394	1,397	4,180	4,192
Total revenue	94,281	93,878	282,697	276,267
International Telecom \| Services transferred over time
REVENUE RECOGNITION AND RECEIVABLES
Total revenue	89,139	87,657	267,970	260,066
International Telecom \| Good and services transferred at point in time
REVENUE RECOGNITION AND RECEIVABLES
Total revenue	3,591	4,752	10,243	11,792
US Telecom
REVENUE RECOGNITION AND RECEIVABLES
Total revenue	71,872	85,570	228,663	252,117
Operating lease income	1,918	1,876	5,989	5,593
Government grant revenue	10,380	9,712	31,178	29,273
Total revenue	84,170	97,158	265,830	286,983
US Telecom \| Services transferred over time
REVENUE RECOGNITION AND RECEIVABLES
Total revenue	69,856	81,459	219,728	242,862
US Telecom \| Good and services transferred at point in time
REVENUE RECOGNITION AND RECEIVABLES
Total revenue	$ 2,016	$ 4,111	$ 8,935	$ 9,255

REVENUE RECOGNITION AND RECEI_4

REVENUE RECOGNITION AND RECEIVABLES - Contract Assets and Liabilities (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Contract Assets and Liabilities
Retail revenue period for billing postpaid customers in advance	1 month
Contract Asset - current	$ 3,657	$ 3,616
Change in contract asset - current	$ 41
% of change in contract asset - current	1.10%
Contract Asset - noncurrent	$ 4,846	5,509
Change in contract asset - noncurrent	$ (663)
% of change in contract asset - noncurrent	(12.00%)
Contract liability- current	$ (30,319)	(30,990)
Change in contract liabilities - current	$ 671
% of change in contract liabilities - current	(2.20%)
Contract liability- noncurrent	$ (57,177)	(64,035)
Change in contract liabilities - noncurrent	$ 6,858
% of change in contract liabilities - Noncurrent	(10.70%)
Net contract liability	$ (78,993)	$ (85,900)
Change in net contract liability	$ 6,907
% of change in net contract liability	(8.00%)
Revenue recognized related to contract liability	$ 26,200
Amortization of contract assets	$ 3,700

REVENUE RECOGNITION AND RECEI_5

REVENUE RECOGNITION AND RECEIVABLES - Contract Acquisition Costs (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Contract Acquisition Costs
Amortization of contract acquisition cost	$ 1.7	$ 1.4	$ 4.9	$ 4.1
Other Noncurrent Assets
Contract Acquisition Costs
Short-term contract acquisition costs	$ 10.9		$ 10.9		$ 11.3

REVENUE RECOGNITION AND RECEI_6

REVENUE RECOGNITION AND RECEIVABLES - Remaining Performance Obligations (Details) $ in Millions	9 Months Ended
	Sep. 30, 2024 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-10-01
Revenue Recognition
Transaction price allocated to unsatisfied performance obligations	$ 605
Percentage of performance obligations to be satisfied	41%
Period to satisfy the remaining performance obligations and recognize the transaction price	24 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01
Revenue Recognition
Transaction price allocated to unsatisfied performance obligations	$ 60
Period to satisfy the remaining performance obligations and recognize the transaction price	12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-01-01
Revenue Recognition
Transaction price allocated to unsatisfied performance obligations	$ 60
Period to satisfy the remaining performance obligations and recognize the transaction price	12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2028-01-01
Revenue Recognition
Transaction price allocated to unsatisfied performance obligations	$ 60
Period to satisfy the remaining performance obligations and recognize the transaction price	12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2029-01-01
Revenue Recognition
Transaction price allocated to unsatisfied performance obligations	$ 60
Period to satisfy the remaining performance obligations and recognize the transaction price	12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2030-01-01
Revenue Recognition
Transaction price allocated to unsatisfied performance obligations	$ 60
Period to satisfy the remaining performance obligations and recognize the transaction price	12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2031-01-01
Revenue Recognition
Transaction price allocated to unsatisfied performance obligations	$ 60
Period to satisfy the remaining performance obligations and recognize the transaction price	12 months

REVENUE RECOGNITION AND RECEI_7

REVENUE RECOGNITION AND RECEIVABLES - Receivables (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Accounts Receivable
Gross accounts receivable	$ 104,000	$ 104,400
Customer receivable - long term	41,925	45,676
Allowance for credit loss	15,300	16,400
FirstNet agreement
Accounts Receivable
Customer receivable	49,800	52,900
Customer receivable - long term	$ 41,900	$ 45,700

REVENUE RECOGNITION AND RECEI_8

REVENUE RECOGNITION AND RECEIVABLES - Allowance for Credit Losses Roll forward (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
REVENUE RECOGNITION AND RECEIVABLES
Balance at beginning of period	$ 16,362	$ 15,171
Current period provision for expected losses	4,209	4,014
Write-offs charged against the allowance	(5,511)	(3,017)
Recoveries collected	255	414
Balance at end of period	$ 15,315	$ 16,582

LEASES - Narrative (Details)

LEASES - Narrative (Details)	Sep. 30, 2024
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

LEASES - Components of Lease Ex

LEASES - Components of Lease Expense and Payments (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
LEASES
Operating lease cost	$ 5,884	$ 5,975	$ 16,989	$ 17,719
Short-term lease cost	657	655	2,105	1,958
Variable lease cost	1,415	1,266	4,539	3,311
Total operating lease cost	7,956	7,896	23,633	22,988
Finance lease cost:
Amortization of right-of-use asset	1,647	735	3,235	2,239
Variable costs	170	211	538	641
Interest costs	87	103	287	265
Total finance lease cost	1,904	$ 1,049	4,060	3,145
Payments for lease liabilities			14,800	14,600
Lease liabilities arising from right of use assets			11,500	15,800
Right of use assets terminated				5,600
Lease liabilities terminated				5,900
Gain on lease termination				300
Finance leases cost included in fixed assets, net	32,300		32,300		$ 31,700
Accumulated amortization related to finance leases	19,500		19,500		16,400
Principal payments, finance lease liabilities			1,357	932
Investing cash flows for finance lease liabilities				3,500
Operating cash flows for finance lease liabilities			300	$ 300
Finance lease liability	4,758		4,758		$ 5,641
Finance lease liability, current	$ 1,600		$ 1,600

LEASES - Weighted average remai

LEASES - Weighted average remaining lease terms and discount rates (Details)	Sep. 30, 2024	Dec. 31, 2023
LEASES
Operating leases, weighted average remaining lease term	12 years 7 months 6 days	13 years 3 months 18 days
Financing leases, weighted average remaining lease term	4 years 9 months 18 days	9 years 2 months 12 days
Operating leases, weighted average discount rate	6.70%	6.30%
Financing leases, weighted average discount rate	7.30%	6.60%

LEASES - Maturities of lease li

LEASES - Maturities of lease liabilities (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Lessor, Lease, Description [Line Items]
2024 (excluding the nine months ended September 30, 2024)	$ 4,957		$ 4,957
Year 1	18,858		18,858		$ 18,048
Year 2	15,023		15,023		16,022
Year 3	12,143		12,143		11,755
Year 4	9,273		9,273		9,327
Year 5					7,807
Thereafter	84,025		84,025
Thereafter					80,637
Total lease payments	144,279		144,279		143,596
Less imputed interest	(56,694)		(56,694)		(57,133)
Total	$ 87,585		$ 87,585		$ 86,463
Operating Lease, Liability, Statement of Financial Position [Extensible Enumeration]	Lease Liability, Current, Lease Liability, Noncurrent		Lease Liability, Current, Lease Liability, Noncurrent		Lease Liability, Current, Lease Liability, Noncurrent
Finance Lease, Liability, to be Paid, Fiscal Year Maturity [Abstract]
2024 (excluding the nine months ended September 30, 2024)	$ 543		$ 543
Year 1	1,541		1,541		$ 2,030
Year 2	721		721		1,488
Year 3	685		685		601
Year 4	554		554		534
Year 5					505
Thereafter					2,145
Thereafter	2,145		2,145
Total lease payments	6,189		6,189		7,303
Less imputed interest	(1,431)		(1,431)		(1,662)
Total	$ 4,758		$ 4,758		$ 5,641
Finance Lease, Liability, Statement of Financial Position [Extensible Enumeration]	Lease Liability, Current, Lease Liability, Noncurrent		Lease Liability, Current, Lease Liability, Noncurrent		Lease Liability, Current, Lease Liability, Noncurrent
Lease income	$ 2,075	$ 1,948	$ 6,293	$ 5,810
Maturities of future undiscounted lease payments
2024 (excluding the nine months ended September 30, 2024)	1,837		1,837
2025	7,178		7,178
2026	6,848		6,848
2027	5,624		5,624
2028	5,228		5,228
Thereafter	13,568		13,568
Total future lease payments	40,283		40,283
Network asset
Finance Lease, Liability, to be Paid, Fiscal Year Maturity [Abstract]
Lease income	$ 2,100	$ 1,900	$ 6,300	$ 5,800

FAIR VALUE MEASUREMENTS AND I_3

FAIR VALUE MEASUREMENTS AND INVESTMENTS - Recurring (Details) - Recurring - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Fair value measurements
Total assets and liabilities measured at fair value	$ (9,935)	$ (23,311)
Short Term Investments
Fair value measurements
Investments	310	300
Other Investments
Fair value measurements
Investments		1,197
Employee benefit plan investments
Fair value measurements
Investments	2,800	3,014
Interest Rate Swaps
Fair value measurements
Derivative liabilities	(1,962)	(1,750)
Redeemable common units \| Alloy Inc
Fair value measurements
Financial instruments	(10,834)	(14,760)
Redeemable common units \| Alaska communications
Fair value measurements
Financial instruments		(11,063)
Warrant \| Alaska communications
Fair value measurements
Financial instruments	(249)	(249)
Level 1
Fair value measurements
Total assets and liabilities measured at fair value	3,110	3,314
Level 1 \| Short Term Investments
Fair value measurements
Investments	310	300
Level 1 \| Employee benefit plan investments
Fair value measurements
Investments	2,800	3,014
Level 2
Fair value measurements
Total assets and liabilities measured at fair value	(1,962)	(1,750)
Level 2 \| Interest Rate Swaps
Fair value measurements
Derivative liabilities	(1,962)	(1,750)
Level 3
Fair value measurements
Total assets and liabilities measured at fair value	(11,083)	(24,875)
Level 3 \| Other Investments
Fair value measurements
Investments		1,197
Level 3 \| Redeemable common units \| Alloy Inc
Fair value measurements
Financial instruments	(10,834)	(14,760)
Level 3 \| Redeemable common units \| Alaska communications
Fair value measurements
Financial instruments		(11,063)
Level 3 \| Warrant \| Alaska communications
Fair value measurements
Financial instruments	$ (249)	$ (249)

FAIR VALUE MEASUREMENTS AND I_4

FAIR VALUE MEASUREMENTS AND INVESTMENTS - Investments (Details) - USD ($) $ in Thousands	9 Months Ended		12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Roll forward of investments
Beginning balance	$ 42,907	$ 38,169	$ 38,169
Income recognized	242	2,752
Contributions / (distributions)	(602)	488
Sale of Investments	(790)
Foreign currency gain		229
Reclassification of foreign currency losses		1,349
Ending balance	41,757	42,987	42,907
Investments without a readily determinable fair value
Roll forward of investments
Beginning balance	41,710	22,590	22,590
Income recognized	47	2,430
Contributions / (distributions)		425
Transfers		16,264	16,300
Ending balance	41,757	41,709	41,710
Fair value investments
Roll forward of investments
Beginning balance	1,197	1,616	1,616
Income recognized	195	229
Contributions / (distributions)	(602)	(567)
Sale of Investments	$ (790)
Ending balance		1,278	1,197
Equity method investments
Roll forward of investments
Beginning balance		13,963	$ 13,963
Income recognized		93
Contributions / (distributions)		630
Foreign currency gain		229
Reclassification of foreign currency losses		1,349
Transfers		$ (16,264)

FAIR VALUE MEASUREMENTS AND I_5

FAIR VALUE MEASUREMENTS AND INVESTMENTS - Narrative (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Carrying Value
Fair value measurements
Long-term debt	$ 568.9	$ 516.9
Level 2 \| Total
Fair value measurements
Long-term debt	575.6	525.1
Customer receivable credit facility	45.3	46.5
Level 2 \| Carrying Value
Fair value measurements
Customer receivable credit facility	$ 46.2	$ 46.1

LONG-TERM DEBT (Details)

1 Months Ended

3 Months Ended

9 Months Ended

Aug. 29, 2024 USD ($)

Jul. 13, 2023 USD ($)

Dec. 23, 2022 USD ($)

Jun. 15, 2022 USD ($)

Apr. 10, 2019 USD ($)

Oct. 31, 2023 USD ($)

Sep. 30, 2024 USD ($)

Sep. 30, 2023 USD ($)

Dec. 31, 2023 USD ($)

Nov. 30, 2023 USD ($) derivative

Nov. 07, 2022 USD ($)

Oct. 12, 2022 USD ($)

May 05, 2022

Mar. 26, 2020 USD ($)

Dec. 31, 2016 USD ($)

Jul. 01, 2016 USD ($)

Long-term debt

Revolving credit facility - borrowings

$ 90,000,000

$ 126,893,000

Loss on extinguishment of debt

760,000

Long-term Debt

$ 568,906,000

568,906,000

$ 516,870,000

Current portion of long-term debt

7,413,000

24,290,000

Long-term debt, excluding current portion

561,493,000

492,580,000

Current portion of customer receivable credit facility

7,935,000

7,110,000

Amortization of financing costs

1,915,000

$ 1,806,000

SOFR | Alaska communications

Long-term debt

Basis spread on variable rate (as a percent)

0.10%

Alaska credit facility

Long-term debt

Financing costs

$ 2,100,000

Alaska credit facility | Period of second quarter of 2024

Long-term debt

Net total leverage ratio

3.75

Alaska credit facility | Interest Rate Swaps

Long-term debt

Notional amount

$ 200,000,000

Fair value of asset (liability)

(1,300,000)

$ (1,300,000)

(1,200,000)

Number of derivative instruments | derivative

Alaska credit facility | Alaska communications

Long-term debt

Net total leverage ratio

Fixed charge coverage ratio

1.25

Alaska credit facility | Alaska communications | Period of fourth quarter of 2023 To third quarter 2024

Long-term debt

Periodic payment, principal

$ 1,400,000

Alaska credit facility | SOFR | Interest rate swap One

Long-term debt

Interest rate (in percent)

4.8695%

Alaska credit facility | SOFR | Interest rate swap Two

Long-term debt

Interest rate (in percent)

4.898%

Alaska credit facility | Base rate | Alaska communications

Long-term debt

Basis spread on variable rate (as a percent)

Alaska credit facility | Minimum | SOFR | Alaska communications

Long-term debt

Basis spread on variable rate (as a percent)

Alaska credit facility | Maximum | SOFR | Alaska communications

Long-term debt

Basis spread on variable rate (as a percent)

Alaska Credit Facility 2024

Long-term debt

Financing costs

6,900,000

Net total leverage ratio

4.75

Fixed charge coverage ratio

1.25

Alaska Credit Facility 2024 | Other expense

Long-term debt

Debt costs expensed

3,800,000

Loss on extinguishment of debt

700,000

Alaska Credit Facility 2024 | Period from Second Quarter Of 2027

Long-term debt

Net total leverage ratio

4.50

Alaska Credit Facility 2024 | Period from Third Quarter Of 2028

Long-term debt

Net total leverage ratio

4.25

Alaska Credit Facility 2024 | Debt Instrument from fourth quarter of 2026 to third quarter 2027

Long-term debt

Periodic payment, principal

$ 1,875,000

Alaska Credit Facility 2024 | Debt instrument from fourth quarter of 2027 to second quarter 2029

Long-term debt

Periodic payment, principal

$ 3,750,000

Alaska Credit Facility 2024 | Alaska communications

Long-term debt

Consolidated EBITDA

12 months

One Communications (Guyana)

Long-term debt

Term of debt

5 years

Borrowings outstanding

$ 0

Fixed interest rate

7.50%

One Communications (Guyana) Term Loan Facility

Long-term debt

Maximum borrowing capacity

$ 2,900,000

One Communications (Guyana) Overdraft Facility

Long-term debt

Maximum borrowing capacity

$ 5,700,000

Viya Debt

Long-term debt

Net leverage ratio

3.5

Financing costs

$ 900,000

Unamortized financing costs

$ 200,000

Term loan assumed

$ 60,000,000

Fixed interest rate

Outstanding debt

60,000,000

Revolver loan | 2019 CoBank Credit Facility

Long-term debt

Maximum borrowing capacity

$ 200,000,000

Repayments of debt

$ 139,500,000

Revolver loan | 2019 CoBank Credit Facility | Minimum

Long-term debt

Commitment fee (as a percent)

0.15%

Revolver loan | 2019 CoBank Credit Facility | Minimum | Base rate

Long-term debt

Basis spread on variable rate (as a percent)

0.25%

Revolver loan | 2019 CoBank Credit Facility | Minimum | LIBOR

Long-term debt

Basis spread on variable rate (as a percent)

1.25%

Revolver loan | 2019 CoBank Credit Facility | Maximum

Long-term debt

Commitment fee (as a percent)

0.375%

Revolver loan | 2019 CoBank Credit Facility | Maximum | Base rate

Long-term debt

Basis spread on variable rate (as a percent)

1.25%

Revolver loan | 2019 CoBank Credit Facility | Maximum | LIBOR

Long-term debt

Basis spread on variable rate (as a percent)

2.25%

Revolver loan | Alaska credit facility | Alaska communications

Long-term debt

Maximum borrowing capacity

$ 75,000,000

Revolver loan | Alaska Credit Facility 2024

Long-term debt

Borrowings outstanding

Remaining borrowing capacity

88,700,000

Revolver loan | Alaska Credit Facility 2024 | Alaska communications

Long-term debt

Maximum borrowing capacity

$ 90,000,000

Letters of credit

Long-term debt

Borrowings outstanding

30,900,000

Letters of credit | 2023 CoBank Credit Facility

Long-term debt

Maximum borrowing capacity

25,000,000

Letters of credit | 2019 CoBank Credit Facility

Long-term debt

Maximum borrowing capacity

$ 75,000,000

Letters of credit | Alaska Credit Facility 2024

Long-term debt

Borrowings outstanding

1,300,000

Swingline sub-facility | 2023 CoBank Credit Facility

Long-term debt

Maximum borrowing capacity

$ 20,000,000

Base rate before one-week or one-month LIBOR (as a percent)

Swingline sub-facility | 2023 CoBank Credit Facility | Fed Funds Effective Rate Overnight Index Swap Rate

Long-term debt

Basis spread on variable rate (as a percent)

0.50%

Swingline sub-facility | 2019 CoBank Credit Facility

Long-term debt

Maximum borrowing capacity

$ 10,000,000

Base rate before one-week or one-month LIBOR (as a percent)

Swingline sub-facility | 2019 CoBank Credit Facility | Fed Funds Effective Rate Overnight Index Swap Rate

Long-term debt

Basis spread on variable rate (as a percent)

0.50%

Term loans | Alaska credit facility | Alaska communications

Long-term debt

Long-term Debt

$ 230,000,000

Term loans | Alaska Credit Facility 2024 | Alaska communications

Long-term debt

Term of debt

5 years

Maximum borrowing capacity

$ 300,000,000

Revolving credit facility - borrowings

$ 279,000,000

Borrowings outstanding

300,000,000

2023 CoBank Credit Facility

Long-term debt

Financing costs

4,500,000

Unamortized financing costs

3,500,000

2023 CoBank Credit Facility | 2023 CoBank Credit Facility | Interest Rate Swaps

Long-term debt

Derivative, Term of debt

2 years

Notional amount

$ 50,000,000

Fair value of asset (liability)

(700,000)

$ (500,000)

2023 CoBank Credit Facility | 2023 CoBank Credit Facility | SOFR | Interest Rate Swaps

Long-term debt

Interest rate (in percent)

4.896%

2023 CoBank Credit Facility | 2023 CoBank Credit Facility | Minimum

Long-term debt

Commitment fee (as a percent)

0.25%

2023 CoBank Credit Facility | 2023 CoBank Credit Facility | Maximum

Long-term debt

Commitment fee (as a percent)

0.50%

2023 CoBank Revolving Loan | 2023 CoBank Credit Facility

Long-term debt

Term of debt

5 years

Maximum borrowing capacity

$ 170,000,000

Revolving credit facility - borrowings

$ 13,600,000

Borrowings outstanding

69,100,000

Remaining borrowing capacity

100,900,000

2023 CoBank Revolving Loan | 2023 CoBank Credit Facility | Minimum | SOFR

Long-term debt

Basis spread on variable rate (as a percent)

1.75%

2023 CoBank Revolving Loan | 2023 CoBank Credit Facility | Minimum | Base rate

Long-term debt

Basis spread on variable rate (as a percent)

0.75%

2023 CoBank Revolving Loan | 2023 CoBank Credit Facility | Maximum

Long-term debt

Net leverage ratio

3.25

2023 CoBank Revolving Loan | 2023 CoBank Credit Facility | Maximum | SOFR

Long-term debt

Basis spread on variable rate (as a percent)

3.50%

2023 CoBank Revolving Loan | 2023 CoBank Credit Facility | Maximum | Base rate

Long-term debt

Basis spread on variable rate (as a percent)

2.50%

2023 CoBank Term Loan | 2023 CoBank Credit Facility

Long-term debt

Term of debt

6 years

Face amount of debt

$ 130,000,000

Borrowings outstanding

126,800,000

2023 CoBank Term Loan | 2023 CoBank Credit Facility | Minimum | SOFR

Long-term debt

Basis spread on variable rate (as a percent)

2023 CoBank Term Loan | 2023 CoBank Credit Facility | Minimum | Base rate

Long-term debt

Basis spread on variable rate (as a percent)

2023 CoBank Term Loan | 2023 CoBank Credit Facility | Maximum | SOFR

Long-term debt

Basis spread on variable rate (as a percent)

3.75%

2023 CoBank Term Loan | 2023 CoBank Credit Facility | Maximum | Base rate

Long-term debt

Basis spread on variable rate (as a percent)

2.75%

Incremental term loans | Alaska Credit Facility 2024 | Minimum | Alaska communications

Long-term debt

Maximum borrowing capacity

91,000,000

Secured delayed draw term loan | Alaska Term Facility | Alaska communications

Long-term debt

Fixed charge coverage ratio

Maximum borrowing capacity

$ 7,500,000

Senior secured delayed draw term loan | Receivable credit facility

Long-term debt

Maximum borrowing capacity

$ 75,000,000

Financing costs

$ 800,000

Unamortized financing costs

400,000

Borrowings outstanding

46,600,000

Remaining borrowing capacity

9,200,000

Current portion of customer receivable credit facility

7,900,000

Senior secured delayed draw term loan | Sacred Wind Term Debt

Long-term debt

Long-term Debt

25,800,000

$ 31,600,000

Current portion of long-term debt

3,400,000

Long-term debt, excluding current portion

$ 22,400,000

Senior secured delayed draw term loan | Sacred Wind Term Debt | Minimum

Long-term debt

Fixed interest rate

0.88%

Senior secured delayed draw term loan | Sacred Wind Term Debt | Maximum

Long-term debt

Fixed interest rate

LONG-TERM DEBT - Quarterly Paym

LONG-TERM DEBT - Quarterly Payments Dates (Details) - 2023 CoBank Term Loan - 2023 CoBank Credit Facility	Jul. 13, 2023 USD ($)
Quarterly Payment, December 31, 2023 - June 30, 2025
Debt Instrument [Line Items]
Quarterly repayments	$ 812,500
Interest rate	2.50%
Quarterly Payment, September 30, 2025 - June 30, 2026
Debt Instrument [Line Items]
Quarterly repayments	$ 1,625,000
Interest rate	5%
Quarterly Payment, September 30, 2026 - June 30,2029
Debt Instrument [Line Items]
Quarterly repayments	$ 2,437,500
Interest rate	7.50%

LONG-TERM DEBT - Alaska Credit

LONG-TERM DEBT - Alaska Credit Facility interest rate (Details) - Alaska Credit Facility 2024	Aug. 29, 2024
Greater than 4.00:1.00
Debt Instrument [Line Items]
Applicable Margin for Term SOFR Loans and L/C Participation Fees	4.50%
Applicable Margin for Base Rate Loans and Reimbursement Obligations	3.50%
Applicable margin for Commitment Fees	0.40%
Less than or equal to 4.00:1.00 but greater than 3.25:1.00
Debt Instrument [Line Items]
Applicable Margin for Term SOFR Loans and L/C Participation Fees	4%
Applicable Margin for Base Rate Loans and Reimbursement Obligations	3%
Applicable margin for Commitment Fees	0.35%
Less than or equal to 3.25:1.00 but greater than 2.50:1.00
Debt Instrument [Line Items]
Applicable Margin for Term SOFR Loans and L/C Participation Fees	3.50%
Applicable Margin for Base Rate Loans and Reimbursement Obligations	2.50%
Applicable margin for Commitment Fees	0.30%
Less than or equal to 2.50:1.00
Debt Instrument [Line Items]
Applicable Margin for Term SOFR Loans and L/C Participation Fees	3%
Applicable Margin for Base Rate Loans and Reimbursement Obligations	2%
Applicable margin for Commitment Fees	0.25%

LONG-TERM DEBT - Debt Maturity

LONG-TERM DEBT - Debt Maturity (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Long-term Debt	$ 568,906	$ 516,870
Total Debt
Debt Instrument [Line Items]
October 1, 2024 through December 31, 2024	1,732
Year ending December 31, 2025	8,344
Year ending December 31, 2026	73,594
Year ending December 31, 2027	22,848
Year ending December 31, 2028	97,728
Thereafter	377,379
Total	581,625
Debt Discounts	(12,719)
Long-term Debt	568,906
Customer receivable credit facility
Debt Instrument [Line Items]
October 1, 2024 through December 31, 2024	1,950
Year ending December 31, 2025	8,027
Year ending December 31, 2026	8,405
Year ending December 31, 2027	8,803
Year ending December 31, 2028	9,224
Thereafter	10,198
Total	46,607
Debt Discounts	(398)
Long-term Debt	46,209
Corporate and Other
Debt Instrument [Line Items]
October 1, 2024 through December 31, 2024	813
Year ending December 31, 2025	4,875
Year ending December 31, 2026	8,125
Year ending December 31, 2027	9,750
Year ending December 31, 2028	78,870
Thereafter	93,437
Total	195,870
Debt Discounts	(3,461)
Long-term Debt	192,409	159,009
US Telecom \| Operating segments
Debt Instrument [Line Items]
Long-term Debt	316,672	293,607
US Telecom \| Operating segments \| Total Debt
Debt Instrument [Line Items]
October 1, 2024 through December 31, 2024	919
Year ending December 31, 2025	3,469
Year ending December 31, 2026	5,469
Year ending December 31, 2027	13,098
Year ending December 31, 2028	18,858
Thereafter	283,942
Total	325,755
Debt Discounts	(9,083)
Long-term Debt	316,672
International Telecom \| Operating segments
Debt Instrument [Line Items]
Long-term Debt	59,825	$ 64,254
International Telecom \| Operating segments \| Total Debt
Debt Instrument [Line Items]
Year ending December 31, 2026	60,000
Total	60,000
Debt Discounts	(175)
Long-term Debt	$ 59,825

GOVERNMENT SUPPORT AND SPECTR_3

GOVERNMENT SUPPORT AND SPECTRUM MATTERS (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2024 USD ($) item	Sep. 30, 2023 USD ($)	Jul. 15, 2022 USD ($)
Mobility Fund [Line Items]
Revenue from contract with customer	$ 164,602	$ 177,979	$ 506,876	$ 523,975
Reimbursable capital expenditures			71,849	14,261
Amounts accrued for reimbursable capital expenditures from government capital programs			32,467	25,244
Gain (loss) on disposition of long-lived assets	(1,504)	(132)	14,919	(410)
Government capital programs - Amounts received			72,531	16,065
USF, CAF II, RDOF, EOF, RHC and Other Programs \| Communication services
Mobility Fund [Line Items]
Revenue from contract with customer	18,104	25,930	64,999	78,324
USF, CAF II, RDOF, EOF, RHC and Other Programs \| US Telecom \| Communication services
Mobility Fund [Line Items]
Revenue from contract with customer	16,707	24,528	60,346	74,118
USF, CAF II, RDOF, EOF, RHC and Other Programs \| International Telecom \| Communication services
Mobility Fund [Line Items]
Revenue from contract with customer	1,397	1,402	$ 4,653	4,206
Universal Service Fund programs
Mobility Fund [Line Items]
Number of fund disbursement programs \| item			4
High cost support program \| Communication services
Mobility Fund [Line Items]
Revenue from contract with customer	4,867	3,685	$ 14,591	11,196
High cost support program \| US Telecom \| Communication services
Mobility Fund [Line Items]
Revenue from contract with customer	3,473	2,288	10,411	7,004
High cost support program \| International Telecom \| Communication services
Mobility Fund [Line Items]
Revenue from contract with customer	1,394	1,397	4,180	4,192
Government capital programs - Amounts received			5,500
CAF II \| Grant receivable through December 2025
Mobility Fund [Line Items]
Amount that has been funded or will be funded	27,700		27,700
CAF II \| Grant receivable from January 2026 through July 2028
Mobility Fund [Line Items]
Amount that has been funded or will be funded	8,000		8,000
CAF II \| Communication services
Mobility Fund [Line Items]
Revenue from contract with customer	6,731	6,815	20,303	20,445
CAF II \| US Telecom \| Communication services
Mobility Fund [Line Items]
Revenue from contract with customer	6,731	6,815	20,303	20,445
E-ACAM
Mobility Fund [Line Items]
Amount that has been funded or will be funded	118,200		$ 118,200
Grant fund term			15 years
E-ACAM \| Grant receivable from 2024 through 2030
Mobility Fund [Line Items]
Amount that has been funded or will be funded	9,000		$ 9,000
E-ACAM \| Grant receivable in year 2038
Mobility Fund [Line Items]
Amount that has been funded or will be funded	6,000		6,000
TBCP and Reconnect
Mobility Fund [Line Items]
Grant funds awarded during the period			192,600
Government capital programs - Amounts received			15,900
Construction Obligation			16,100
RDOF
Mobility Fund [Line Items]
Grant funds expected to be awarded	22,700		$ 22,700
Grant fund term			10 years
Number of households to receive broadband coverage \| item			10,000
Transfer of obligation under pending approval of regulatory	13,000		$ 13,000
Gain (loss) on disposition of long-lived assets	900
Accounts payable and accrued liabilities	2,000		2,000
RDOF \| Communication services
Mobility Fund [Line Items]
Revenue from contract with customer	175	608	465	1,824
RDOF \| US Telecom \| Communication services
Mobility Fund [Line Items]
Revenue from contract with customer	175	608	465	1,824
ECF \| Communication services
Mobility Fund [Line Items]
Revenue from contract with customer		6,813	7,312	21,694
ECF \| US Telecom \| Communication services
Mobility Fund [Line Items]
Revenue from contract with customer		6,813	7,312	21,694
RHC \| Communication services
Mobility Fund [Line Items]
Revenue from contract with customer	4,420	3,007	11,539	8,795
RHC \| US Telecom \| Communication services
Mobility Fund [Line Items]
Revenue from contract with customer	4,420	3,007	11,539	8,795
Other Programs \| Communication services
Mobility Fund [Line Items]
Revenue from contract with customer	1,911	5,002	10,789	14,370
Other Programs \| US Telecom \| Communication services
Mobility Fund [Line Items]
Revenue from contract with customer	1,908	4,997	10,316	14,356
Other Programs \| International Telecom \| Communication services
Mobility Fund [Line Items]
Revenue from contract with customer	$ 3	$ 5	$ 473	$ 14
Remove And Replace Program
Mobility Fund [Line Items]
Reimbursement period			12 months
Amounts accrued for reimbursable capital expenditures from government capital programs			$ 31,100
Remove And Replace Program \| Maximum
Mobility Fund [Line Items]
Amount of cost reimbursement allocated					$ 207,000
Network Connectivity for Eligible Communities
Mobility Fund [Line Items]
Reimbursable capital expenditures			4,700
Grant funds awarded during the period			0
Government capital programs - Amounts received			$ 4,100

GOVERNMENT SUPPORT AND SPECTR_4

GOVERNMENT SUPPORT AND SPECTRUM MATTERS - Construction (Details) - Network Connectivity for Eligible Communities $ in Thousands	9 Months Ended
	Sep. 30, 2024 USD ($)
Mobility Fund [Line Items]
Grants awarded	$ 100,149
New grants	0
Construction complete	0
Transferred grants	0
Grants awarded	$ 100,149

GOVERNMENT SUPPORT AND SPECTR_5

GOVERNMENT SUPPORT AND SPECTRUM MATTERS - Replace and Remove Program (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Mobility Fund [Line Items]
Beginning balance, Total spend	$ 64,388	$ 3,325
Amounts spent	75,550	35,211
Ending balance, Total spend	139,938	38,536
Beginning balance, Total reimbursements	(17,127)
Reimbursements received	(87,189)	(1,948)
Ending balance, Total reimbursements	(104,316)	(1,948)
Amount pending reimbursement	35,622	36,588
Capital Amount
Mobility Fund [Line Items]
Beginning balance, Total spend	49,262	1,836
Amounts spent	66,501	27,060
Ending balance, Total spend	115,763	28,896
Beginning balance, Total reimbursements	(12,773)
Reimbursements received	(68,450)	(833)
Ending balance, Total reimbursements	(81,223)	(833)
Amount pending reimbursement	34,540	28,063
Operating Amount
Mobility Fund [Line Items]
Beginning balance, Total spend	15,126	1,489
Amounts spent	9,049	8,151
Ending balance, Total spend	24,175	9,640
Beginning balance, Total reimbursements	(4,354)
Reimbursements received	(18,739)	(1,115)
Ending balance, Total reimbursements	(23,093)	(1,115)
Amount pending reimbursement	$ 1,082	$ 8,525

GOODWILL (Details)

GOODWILL (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
GOODWILL (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Sep. 30, 2024
GOODWILL
Goodwill impairment	$ 35,269	$ 35,269

GOODWILL - Net (Details)

GOODWILL - Net (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Changes in the carrying amount of goodwill, by operating segment
Goodwill	$ 60,691	$ 60,691
Accumulated impairment	(55,856)	(20,587)
Goodwill, net of accumulated impairment	4,835	40,104
International Telecom
Changes in the carrying amount of goodwill, by operating segment
Goodwill	25,422	25,423
Accumulated impairment	(20,587)	(20,587)
Goodwill, net of accumulated impairment	4,835	4,836
US Telecom
Changes in the carrying amount of goodwill, by operating segment
Goodwill	35,269	35,268
Accumulated impairment	$ (35,269)
Goodwill, net of accumulated impairment		$ 35,268

RETIREMENT PLANS - Net Periodic

RETIREMENT PLANS - Net Periodic Pension Cost (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Components of the plan's net periodic pension cost
Settlements				$ 369
Pension benefits
Components of the plan's net periodic pension cost
Service cost	$ 22	$ 38	$ 67	113
Interest cost	824	593	2,473	1,780
Expected return on plan assets	(729)	(953)	(2,188)	(2,858)
Amortization of unrecognized actuarial gain	(11)		(32)
Settlements				369
Net periodic pension expense (benefit)	106	(322)	320	(596)
Postretirement benefits
Components of the plan's net periodic pension cost
Service cost	16	31	49	62
Interest cost	45	35	136	70
Amortization of unrecognized actuarial gain	(28)		(84)
Net periodic pension expense (benefit)	$ 33	$ 66	$ 101	$ 132

INCOME TAXES - Narrative (Detai

INCOME TAXES - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
INCOME TAXES - Narrative (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
INCOME TAXES
Effective tax rate (as a percent)	23.40%	12.70%	22.10%	35.80%
Income tax expense (benefit)	$ (12,035)	$ (542)	$ (10,213)	$ (6,369)
Pretax income (loss)	(51,486)	(4,260)	(46,272)	(17,804)
Expense associated with gain on sale of land			2,400
Benefit from the reversal of unrecognized tax positions due to statute expiration			3,700	4,000
Expense for an uncertain tax position for the current year			1,500
Expense for interest on uncertain tax positions	800	$ 700	2,200	$ 2,000
Sale of Partnership Interest Expenses	$ 800		$ 800

EARNINGS PER SHARE AND REDEEM_3

EARNINGS PER SHARE AND REDEEMABLE NONCONTROLLING INTERESTS - Computation (Details) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Numerator:
Net income (loss) attributable to ATN International, Inc. stockholders- Basic	$ (32,691)	$ (3,584)	$ (30,000)	$ (8,702)
Less: Preferred dividends	(1,426)	(1,303)	(4,154)	(3,593)
Net income (loss) attributable to ATN International, Inc. common stockholders- Diluted	$ (34,117)	$ (4,887)	$ (34,154)	$ (12,295)
Denominator:
Weighted-average shares outstanding- Basic	15,114	15,601	15,268	15,666
Weighted-average shares outstanding- Diluted	15,114	15,601	15,268	15,666

EARNINGS PER SHARE AND REDEEM_4

EARNINGS PER SHARE AND REDEEMABLE NONCONTROLLING INTERESTS - Redeemable Noncontrolling Interests Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Reconciliation from basic to diluted weighted average common shares outstanding
Allocated losses			$ 14,121	$ 7,788
Redeemable Common Units
Reconciliation from basic to diluted weighted average common shares outstanding
Allocated losses	$ 7,900	$ 1,600	14,121	7,788
Increase (decrease) in book value			$ (900)	$ 7,500

EARNINGS PER SHARE AND REDEEM_5

EARNINGS PER SHARE AND REDEEMABLE NONCONTROLLING INTERESTS - Redeemable Noncontrolling Interests Activity (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Increase (decrease) in temporary equity
Beginning balance			$ 85,917	$ 92,469
Accrued preferred dividend			4,154	3,609
Allocated net loss			(14,121)	(7,788)
Change in fair value			(867)	7,497
Ending balance	$ 75,083	$ 95,787	75,083	95,787
Redeemable Preferred Units
Increase (decrease) in temporary equity
Beginning balance			60,094	55,152
Accrued preferred dividend			4,154	3,609
Ending balance	64,248	58,761	64,248	58,761
Redeemable Common Units
Increase (decrease) in temporary equity
Beginning balance			25,823	37,317
Allocated net loss	(7,900)	(1,600)	(14,121)	(7,788)
Change in fair value			(867)	7,497
Ending balance	$ 10,835	$ 37,026	$ 10,835	$ 37,026

SEGMENT REPORTING (Details)

SEGMENT REPORTING (Details) $ in Thousands	3 Months Ended		9 Months Ended
SEGMENT REPORTING (Details) $ in Thousands	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2024 USD ($) segment	Sep. 30, 2023 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Segment reporting
Number of reportable segments \| segment			2
Number of operating segments \| segment			2
Revenue
Total Revenue	$ 178,451	$ 191,036	$ 548,527	$ 563,250
Depreciation and amortization	37,299	34,370	107,196	106,991
Amortization of intangibles from acquisitions	1,991	3,124	5,916	9,514
Stock-based compensation	1,831	1,956	6,521	6,473
Goodwill impairment	35,269		35,269
Operating income (loss)	(38,358)	6,836	(9,467)	9,911
Segment Assets
Cash, cash equivalents, and restricted cash	116,764	73,087	116,764	73,087	$ 62,167	$ 59,728
Total current assets	325,606		325,606		281,272
Fixed Assets, net	1,049,002		1,049,002		1,080,659
Goodwill	4,835		4,835		40,104
Total assets	1,751,381		1,751,381		1,783,714
Total current liabilities	268,430		268,430		293,194
Total debt, including current portion	568,906		568,906		516,870
Capital Expenditures
Capital expenditures			157,521	140,901
Reimbursable Capital Expenditures			71,849	14,261
Communication Services
Revenue
Total Revenue	174,422	184,601	533,055	547,484
Mobility
Revenue
Total Revenue	27,515	28,736	81,969	83,835
Mobility - Business
Revenue
Total Revenue	5,075	3,946	14,956	11,899
Mobility - Consumer
Revenue
Total Revenue	22,440	24,790	67,013	71,936
Fixed
Revenue
Total Revenue	112,775	118,325	346,687	353,892
Fixed - Business
Revenue
Total Revenue	48,268	53,696	151,298	160,096
Fixed - Consumer
Revenue
Total Revenue	64,507	64,629	195,389	193,796
Carrier services
Revenue
Total Revenue	32,702	35,760	100,020	106,989
Other
Revenue
Total Revenue	1,430	1,780	4,379	2,768
Construction
Revenue
Total Revenue	203	2,038	2,609	3,648
Other
Revenue
Total Revenue	3,826	4,397	12,863	12,118
Managed Services
Revenue
Total Revenue	3,826	4,397	12,863	12,118
Corporate and Other
Revenue
Depreciation and amortization	204	618	330	2,030
Stock-based compensation	1,572	1,803	5,719	6,057
Operating income (loss)	(6,878)	(8,981)	(23,559)	(27,547)
Segment Assets
Cash, cash equivalents, and restricted cash	1,949		1,949		2,239
Total current assets	8,179		8,179		11,035
Fixed Assets, net	6,446		6,446		4,915
Total assets	89,226		89,226		91,619
Total current liabilities	31,357		31,357		37,357
Total debt, including current portion	192,409		192,409		159,009
Capital Expenditures
Capital expenditures			1,861
International Telecom
Segment Assets
Goodwill	4,835		4,835		4,836
International Telecom \| Operating segments
Revenue
Total Revenue	94,281	93,878	282,697	276,267
Depreciation and amortization	18,414	14,354	50,814	42,646
Amortization of intangibles from acquisitions	251	240	754	984
Stock-based compensation	102	130	319	307
Operating income (loss)	12,853	12,800	56,944	41,177
Segment Assets
Cash, cash equivalents, and restricted cash	52,043		52,043		26,354
Total current assets	149,987		149,987		107,469
Fixed Assets, net	468,559		468,559		481,911
Goodwill	4,835		4,835		4,836
Total assets	695,127		695,127		672,171
Total current liabilities	96,384		96,384		86,540
Total debt, including current portion	59,825		59,825		64,254
Capital Expenditures
Capital expenditures			39,440	57,610
International Telecom \| Operating segments \| Communication Services
Revenue
Total Revenue	93,015	92,451	278,471	272,395
International Telecom \| Operating segments \| Mobility
Revenue
Total Revenue	26,809	27,791	79,657	80,754
International Telecom \| Operating segments \| Mobility - Business
Revenue
Total Revenue	5,007	3,818	14,747	11,484
International Telecom \| Operating segments \| Mobility - Consumer
Revenue
Total Revenue	21,802	23,973	64,910	69,270
International Telecom \| Operating segments \| Fixed
Revenue
Total Revenue	61,759	59,983	185,295	178,546
International Telecom \| Operating segments \| Fixed - Business
Revenue
Total Revenue	18,692	18,016	55,939	52,602
International Telecom \| Operating segments \| Fixed - Consumer
Revenue
Total Revenue	43,067	41,967	129,356	125,944
International Telecom \| Operating segments \| Carrier services
Revenue
Total Revenue	3,272	3,441	10,481	11,011
International Telecom \| Operating segments \| Other
Revenue
Total Revenue	1,175	1,236	3,038	2,084
International Telecom \| Operating segments \| Other
Revenue
Total Revenue	1,266	1,427	4,226	3,872
International Telecom \| Operating segments \| Managed Services
Revenue
Total Revenue	1,266	1,427	4,226	3,872
US Telecom
Segment Assets
Goodwill					35,268
US Telecom \| Operating segments
Revenue
Total Revenue	84,170	97,158	265,830	286,983
Depreciation and amortization	18,681	19,398	56,052	62,315
Amortization of intangibles from acquisitions	1,740	2,884	5,162	8,530
Stock-based compensation	157	23	483	109
Goodwill impairment	35,269		35,269
Operating income (loss)	(44,333)	3,017	(42,852)	(3,719)
Segment Assets
Cash, cash equivalents, and restricted cash	62,772		62,772		33,574
Total current assets	167,440		167,440		162,768
Fixed Assets, net	573,997		573,997		593,833
Goodwill					35,268
Total assets	967,028		967,028		1,019,924
Total current liabilities	140,689		140,689		169,297
Total debt, including current portion	316,672		316,672		$ 293,607
Capital Expenditures
Capital expenditures			116,220	83,291
US Telecom \| Operating segments \| Communication Services
Revenue
Total Revenue	81,407	92,150	254,584	275,089
US Telecom \| Operating segments \| Mobility
Revenue
Total Revenue	706	945	2,312	3,081
US Telecom \| Operating segments \| Mobility - Business
Revenue
Total Revenue	68	128	209	415
US Telecom \| Operating segments \| Mobility - Consumer
Revenue
Total Revenue	638	817	2,103	2,666
US Telecom \| Operating segments \| Fixed
Revenue
Total Revenue	51,016	58,342	161,392	175,346
US Telecom \| Operating segments \| Fixed - Business
Revenue
Total Revenue	29,576	35,680	95,359	107,494
US Telecom \| Operating segments \| Fixed - Consumer
Revenue
Total Revenue	21,440	22,662	66,033	67,852
US Telecom \| Operating segments \| Carrier services
Revenue
Total Revenue	29,430	32,319	89,539	95,978
US Telecom \| Operating segments \| Other
Revenue
Total Revenue	255	544	1,341	684
US Telecom \| Operating segments \| Construction
Revenue
Total Revenue	203	2,038	2,609	3,648
US Telecom \| Operating segments \| Other
Revenue
Total Revenue	2,560	2,970	8,637	8,246
US Telecom \| Operating segments \| Managed Services
Revenue
Total Revenue	$ 2,560	$ 2,970	$ 8,637	$ 8,246

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details) $ in Millions	May 08, 2024 USD ($)	Sep. 30, 2024 USD ($) claim
Litigation proceedings and disputes in Guyana
Commitments and contingencies
Number of pending claims \| claim		1
Consent Decree with the FCC Enforcement Bureau
Commitments and contingencies
Settlement, amount	$ 6.3
Cash payment	5.3
Amount of forgiveness on receivables for settlement	$ 1
Consent Decree with the FCC Enforcement Bureau \| Universal Service Administrative Company
Commitments and contingencies
Term of compliance agreement	3 years
Pending litigation, adverse outcome
Commitments and contingencies
Accrued contingent liability		$ 13.1