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Segment Information (Tables)
 6 Months Ended
Jun. 30, 2016
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information

Selected financial data related to our segments is presented below for the three months ended June 30, 2016, and for the period from April 24, 2015 to June 30, 2015:

 

 

Three Months Ended June 30, 2016

 

(Thousands)

 

Leasing

 

 

Fiber Infrastructure

 

 

Consumer CLEC

 

 

Subtotal of Reportable Segments

 

Revenues

 

$

169,050

 

 

$

13,776

 

 

$

5,747

 

 

$

188,573

 

Adjusted EBITDA

 

 

164,810

 

 

 

5,500

 

 

 

1,330

 

 

 

171,640

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

 

 

 

 

 

 

 

 

 

 

 

 

 

68,036

 

Depreciation and amortization

 

 

85,824

 

 

 

5,747

 

 

 

814

 

 

 

92,385

 

Transaction related costs

 

 

 

 

 

 

 

 

 

 

 

 

 

 

11,210

 

Stock-based compensation

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1,217

 

Income tax expense

 

 

 

 

 

 

 

 

 

 

 

 

 

 

327

 

Net loss

 

 

 

 

 

 

 

 

 

 

 

 

 

$

(1,535

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Capital expenditures

 

 

4,627

 

 

 

3,401

 

 

 

-

 

 

 

8,028

 

 

 

 

 

Period from April 24, 2015 to June 30, 2015

 

(Thousands)

 

Leasing

 

 

Consumer CLEC

 

 

Subtotal of Reportable Segments

 

Revenues

 

$

124,172

 

 

$

4,576

 

 

$

128,748

 

Adjusted EBITDA

 

 

121,349

 

 

 

835

 

 

 

122,184

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

 

 

 

 

 

 

 

 

 

48,797

 

Depreciation and amortization

 

 

63,801

 

 

 

643

 

 

 

64,444

 

Transaction related costs

 

 

 

 

 

 

 

 

 

 

73

 

Stock-based compensation

 

 

 

 

 

 

 

 

 

 

338

 

Income tax expense

 

 

 

 

 

 

 

 

 

 

231

 

Net income

 

 

 

 

 

 

 

 

 

$

8,301

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Capital expenditures

 

 

397

 

 

 

-

 

 

 

397

 

 

 

Selected financial data related to our segments is presented below for the six months ended June 30, 2016:

 

 

 

Six Months Ended June 30, 2016

 

(Thousands)

 

Leasing

 

 

Fiber Infrastructure

 

 

Consumer CLEC

 

 

Subtotal of Reportable Segments

 

Revenues

 

$

337,691

 

 

$

13,776

 

 

$

11,781

 

 

$

363,248

 

Adjusted EBITDA

 

 

329,187

 

 

 

5,500

 

 

 

2,662

 

 

 

337,349

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

 

 

 

 

 

 

 

 

 

 

 

 

 

134,085

 

Depreciation and amortization

 

 

171,325

 

 

 

5,747

 

 

 

1,653

 

 

 

178,725

 

Transaction related costs

 

 

 

 

 

 

 

 

 

 

 

 

 

 

15,120

 

Stock-based compensation

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2,147

 

Income tax expense

 

 

 

 

 

 

 

 

 

 

 

 

 

 

771

 

Net income

 

 

 

 

 

 

 

 

 

 

 

 

 

$

6,501

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Capital expenditures

 

 

6,051

 

 

 

3,401

 

 

 

-

 

 

 

9,452

 

 
Summary of Total Assets by Business Segment

Total assets by business segment as of June 30, 2016 and December 31, 2015 are as follows:

 

(Thousands)

 

June 30, 2016

 

 

December 31, 2015

 

Leasing

 

$

2,343,690

 

 

$

2,527,915

 

Fiber Infrastructure

 

 

493,263

 

 

 

-

 

Consumer CLEC

 

 

14,722

 

 

 

14,721

 

Subtotal of reportable segments

 

$

2,851,675

 

 

$

2,542,636