Schedule of fair values for each major class of assets acquired and liabilities assumed at the acquisition date


	May 1, 2023
Assets
Current assets:
Cash and cash equivalents	$	47,074
Accounts receivable		39,948
Prepaid expenses and other current assets		21,288
Total current assets		108,310
Total property and equipment		1,030,200
Right-of-use leased assets		339,533
Intangible assets		57,000
Deposits and other assets		7,191
Total assets	$	1,542,234
Liabilities
Current liabilities:
Accounts payable	$	13,312
Accrued and other current liabilities		36,629
Current maturities, operating lease liabilities		114,121
Total current liabilities		164,062
Operating lease liabilities, net of current maturities		372,915
Deferred income tax liabilities		407,000
Other long-term liabilities		38,352
Total liabilities		982,329
Fair value of net assets acquired	$	559,905
Gain on bargain purchase
Fair value of net assets acquired	$	559,905
Total net consideration to be received from the Seller, net of discounts (b) (c) (d)		595,814
Gain on bargain purchase	$	1,155,719

(a) Includes a payment of $61.1 million paid to the Seller on the Closing Date. After updating the estimated working capital, an additional payment of $3.5 million is due to the Seller 90 days from the Closing Date. A final determination of the Working Capital Adjustment is expected by the end of 2023.

IP Transit Services Agreement

(b) Under the Purchase Agreement, 50% of the assumed short-term operating lease liabilities totaling $57.1 million is to be paid to the Company from the Seller in four equal installments in months 55-58 from the Closing Date and is recorded at its present value resulting in a discount of $17.0 million. A final determination of the assumed short-term operating lease liabilities is expected by the end of 2023.

(c) The IP Transit Services Agreement payments totaling $700.0 million are recorded at their present value resulting in a discount of $79.6 million. The $700.0 million is to be paid to the Company from the Seller in equal monthly payments of $29.2 million in months 1-12 and $8.3 million in months 13-54.

(d) Cash consideration was $1

Schedule of diluted weighted average shares


	Three Months	Three Months	Six Months	Six Months
	Ended	Ended	Ended	Ended
	June 30, 2023	June 30, 2022	June 30, 2023	June 30, 2022
Weighted average common shares - basic	47,137,822	46,691,142	47,142,074	46,705,088
Dilutive effect of stock options	16,147	17,686	16,223	19,498
Dilutive effect of restricted stock	372,238	320,618	350,037	326,325
Weighted average common shares - diluted	47,526,207	47,029,446	47,508,334	47,050,911

Schedule of Stockholders' Deficit

The following details the changes in stockholders’ (deficit) equity for the three and six months ended June 30, 2023 and June 30, 2022, respectively (in thousands except share data):


						Accumulated
				Additional		Other				Total
	Common Stock			Paid-in		Comprehensive		Accumulated		Stockholders’
	Shares	Amount		Capital		Income (Loss)		Deficit		Equity (Deficit)
Balance at March 31, 2022	47,926,580	$	48	$	554,552	$	(13,168)	$	(950,038)	$	(408,606)
Forfeitures of shares granted to employees	(42,783)		—		—		—		—		—
Equity-based compensation	—		—		6,479		—		—		6,479
Foreign currency translation	—		—		—		(7,493)		—		(7,493)
Issuances of common stock	116,480		—		—		—		—		—
Exercises of options	3,447		—		130		—		—		130
Dividends paid	—		—		—		—		(41,855)		(41,855)
Net income	—		—		—		—		11,164		11,164
Balance at June 30, 2022	48,003,724	$	48	$	561,161	$	(20,661)	$	(980,729)	$	(440,181)


						Accumulated
				Additional		Other				Total
	Common Stock			Paid-in		Comprehensive		Accumulated		Stockholders’
	Shares	Amount		Capital		Income (Loss)		Deficit		Equity (Deficit)
Balance at March 31, 2023	48,296,882	$	48	$	582,524	$	(17,368)	$	(1,113,751)	$	(548,547)
Forfeitures of shares granted to employees	(5,321)		—		—		—		—		—
Equity-based compensation	—		—		6,809		—		—		6,809
Foreign currency translation	—		—		—		1,741		—		1,741
Issuances of common stock	320,430		1		—		—		—		1
Exercises of options	5,171		—		240		—		—		240
Dividends paid	—		—		—		—		(44,907)		(44,907)
Net income	—		—		—		—		1,123,863		1,123,863
Balance at June 30, 2023	48,617,162	$	49	$	589,573	$	(15,627)	$	(34,795)	$	539,200


						Accumulated
				Additional		Other				Total
	Common Stock			Paid-in		Comprehensive		Accumulated		Stockholders’
	Shares	Amount		Capital		Income (Loss)		Deficit		Equity (Deficit)
Balance at December 31, 2021	47,674,189	$	48	$	547,734	$	(11,003)	$	(909,877)	$	(373,098)
Forfeitures of shares granted to employees	(52,365)		—		—		—		—		—
Equity-based compensation	—		—		13,093		—		—		13,093
Foreign currency translation	—		—		—		(9,658)		—		(9,658)
Issuances of common stock	373,280		—		—		—		—		—
Exercises of options	8,620		—		334		—		—		334
Dividends paid	—		—		—		—		(83,153)		(83,153)
Net income	—		—		—		—		12,301		12,301
Balance at June 30, 2022	48,003,724	$	48	$	561,161	$	(20,661)	$	(980,729)	$	(440,181)


						Accumulated
				Additional		Other				Total
	Common Stock			Paid-in		Comprehensive		Accumulated		Stockholders’
	Shares	Amount		Capital		Income (Loss)		Deficit		Equity (Deficit)
Balance at December 31, 2022	48,013,330	$	48	$	575,064	$	(19,156)	$	(1,074,588)	$	(518,632)
Forfeitures of shares granted to employees	(11,830)		—		—		—		—		—
Equity-based compensation	—		—		14,124		—		—		14,124
Foreign currency translation	—		—		—		3,529		—		3,529
Issuances of common stock	607,192		1		—		—		—		1
Exercises of options	8,470		—		385		—		—		385
Dividends paid	—		—		—		—		(90,218)		(90,218)
Net income	—		—		—		—		1,130,011		1,130,011
Balance at June 30, 2023	48,617,162	$	49	$	589,573	$	(15,627)	$	(34,795)	$	539,200

Schedule of lease cost


	Three Months		Three Months		Six Months		Six Months
	Ended		Ended		Ended		Ended
(Amounts in thousands)	June 30, 2023		June 30, 2022		June 30, 2023		June 30, 2022
Finance lease cost
Amortization of right-of-use assets	$	8,411	$	7,000	$	17,426	$	13,998
Interest expense on finance lease liabilities		6,565		5,116		12,995		10,197
Operating lease cost		27,730		4,628		32,312		9,401
Total lease costs	$	42,706	$	16,744	$	62,733	$	33,596


	Six Months			Six Months
	Ended			Ended
	June 30, 2023			June 30, 2022
Other lease information (amounts in thousands)
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from finance leases	$	(11,268)		$	(11,083)
Operating cash flows from operating leases		(32,957)			(9,543)
Financing cash flows from finance leases		(17,247)			(11,099)
Right-of-use assets obtained in exchange for new finance lease liabilities		42,639			23,685
Right-of-use assets obtained in exchange for new operating lease liabilities		8,027			9,429
Weighted-average remaining lease term — finance leases (in years)		13.7			12.7
Weighted-average remaining lease term — operating leases (in years)		9.9			18.1
Weighted average discount rate — finance leases		8.5	%		8.7	%
Weighted average discount rate — operating leases		7.3	%		5.4	%

Schedule of impact on financial statement line items from adopting ASC 326


			Current-period
			Provision for		Write offs
	Beginning		Expected Credit		Charged Against		Ending
Description	Balance		Losses (a)		Allowance		Balance
Allowance for credit losses (deducted from accounts receivable) (in thousands)
Three months ended June 30, 2023	$	2,675	$	5,014	$	(2,807)	$	4,882
Three months ended June 30, 2022		1,476		1,059		(818)		1,717
Six months ended June 30, 2023		2,303		6,562		(3,983)		4,882
Six months ended June 30, 2022		1,510		2,005		(1,798)		1,717