Mergers and Acquisitions (Tables)

3 Months Ended

Mar. 31, 2019

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]

The purchase price for Hawaiian Telcom has been currently allocated to individual assets acquired and liabilities assumed as follows:



(dollars in millions)	Hawaiian Telcom
Assets acquired
Cash	$	4.3
Receivables	25.5
Inventory, materials and supplies	6.9
Prepaid expenses and other current assets	5.9
Property, plant and equipment	701.5
Goodwill	9.6
Intangible assets	52.0
Deferred income tax asset	43.8
Other noncurrent assets	2.1
Total assets acquired	851.6
Liabilities assumed
Accounts payable	59.2
Current portion of long-term debt	10.2
Unearned revenue and customer deposits	13.5
Accrued expenses and other current liabilities	21.8
Long-term debt, less current portion	304.5
Pension and postretirement benefit obligations	68.9
Other noncurrent liabilities	34.0
Total liabilities assumed	512.1
Net assets acquired	$	339.5

Schedule of Finite-Lived Intangible Assets Acquired as Part of Business Combination [Table Text Block]

The estimated fair value of identifiable intangible assets and their estimated useful lives are as follows:



	Hawaiian Telcom
(dollars in millions)	Fair Value		Useful Lives
Customer relationships	$	26.0	15 years
Trade name	26.0		15 years
Total identifiable intangible assets	$	52.0

Business Acquisition, Pro Forma Information [Table Text Block]

The following table provides the unaudited pro forma results of operations for the three months ended March 31, 2018 as if the acquisition of Hawaiian Telcom had taken place as of the beginning of fiscal year 2017. These proforma results include adjustments related to the financing of the acquisition, an increase to depreciation and amortization associated with the higher values of property, plant and equipment and intangible assets, an increase to interest expense for the additional debt incurred to complete the acquisition, and other various related income tax effects.

The pro forma information does not necessarily reflect the actual results of operations had the acquisition been consummated at the beginning of the annual reporting period indicated, nor is it necessarily indicative of future operating results. The pro forma information does not include any (i) potential revenue enhancements, cost synergies or other operating efficiencies that could result from the acquisition or (ii) transaction or integration costs relating to the acquisition.



	Three Months Ended
	March 31,
(dollars in millions, except per share amounts)	2018
Revenue	$	384.9
Net loss applicable to common shareholders	(14.3		)
Earnings per share:
Basic and diluted loss per common share	$	(0.29	)

Hawaiian Telcom Holdco, Inc. [Member]

Business Acquisition [Line Items]

Business Combination Schedule of Consideration [Table Text Block]

The purchase price for Hawaiian Telcom consisted of the following:



(dollars in millions)
Cash consideration plus debt assumed	$	536.5
Cincinnati Bell Inc. stock issued	121.2
Debt repayment	(318.2		)
Total purchase price	$	339.5