XML 53 R40.htm IDEA: XBRL DOCUMENT v3.23.1
Business Segment Information (Tables)
12 Months Ended
Dec. 31, 2022
Segment Reporting [Abstract]  
Selected Financial Data for the Company's Business Segment Information

Our business segment information is as follows:

 

 

Successor

 

 

 

Predecessor

 

 

 

Year Ended

 

 

September 8, 2021 to

 

 

 

January 1, 2021 to

 

 

Year Ended

 

(dollars in millions)

 

December 31, 2022

 

 

December 31, 2021

 

 

 

September 7, 2021

 

 

December 31, 2020

 

Revenue

 

 

 

 

 

 

 

 

 

 

 

 

 

Network

 

$

994.3

 

 

$

303.8

 

 

 

$

664.2

 

 

$

969.6

 

IT Services and Hardware

 

 

827.9

 

 

 

259.3

 

 

 

 

492.4

 

 

 

616.6

 

Intersegment

 

 

(26.2

)

 

 

(8.7

)

 

 

 

(17.9

)

 

 

(26.4

)

Total revenue

 

$

1,796.0

 

 

$

554.4

 

 

 

$

1,138.7

 

 

$

1,559.8

 

Intersegment revenue

 

 

 

 

 

 

 

 

 

 

 

 

 

Network

 

$

19.3

 

 

$

6.5

 

 

 

$

13.1

 

 

$

19.7

 

IT Services and Hardware

 

 

6.9

 

 

 

2.2

 

 

 

 

4.8

 

 

 

6.7

 

Total intersegment revenue

 

$

26.2

 

 

$

8.7

 

 

 

$

17.9

 

 

$

26.4

 

Operating (loss) income

 

 

 

 

 

 

 

 

 

 

 

 

 

Network

 

$

(56.2

)

 

$

(6.3

)

 

 

$

78.3

 

 

$

99.7

 

IT Services and Hardware

 

 

(8.4

)

 

 

4.0

 

 

 

 

25.2

 

 

 

24.6

 

Corporate

 

 

(32.7

)

 

 

(6.8

)

 

 

 

(75.8

)

 

 

(58.3

)

Total operating (loss) income

 

$

(97.3

)

 

$

(9.1

)

 

 

$

27.7

 

 

$

66.0

 

Expenditures for long-lived assets*

 

 

 

 

 

 

 

 

 

 

 

 

 

Network

 

$

524.9

 

 

$

114.8

 

 

 

$

199.8

 

 

$

206.4

 

IT Services and Hardware

 

 

30.1

 

 

 

13.9

 

 

 

 

15.9

 

 

 

23.5

 

Corporate

 

 

0.1

 

 

 

1,620.7

 

 

 

 

 

 

 

0.1

 

Total expenditures for long-lived assets

 

$

555.1

 

 

$

1,749.4

 

 

 

$

215.7

 

 

$

230.0

 

Depreciation and amortization

 

 

 

 

 

 

 

 

 

 

 

 

 

Network

 

$

393.3

 

 

$

113.0

 

 

 

$

166.9

 

 

$

252.7

 

IT Services and Hardware

 

 

103.5

 

 

 

31.4

 

 

 

 

27.9

 

 

 

40.6

 

Corporate

 

 

0.3

 

 

 

0.2

 

 

 

 

0.1

 

 

 

0.1

 

Total depreciation and amortization

 

$

497.1

 

 

$

144.6

 

 

 

$

194.9

 

 

$

293.4

 

*Includes cost of acquisitions in the year ended December 31, 2022 and in the Predecessor and Successor periods in 2021, purchase of perpetual licenses in the year ended December 31, 2022 and purchase of wireless spectrum assets in the year ended December 31, 2020

 

 

 

As of December 31,

 

(dollars in millions)

 

2022

 

 

2021

 

Assets

 

 

 

 

 

 

Network

 

$

3,218.5

 

 

$

2,949.2

 

IT Services and Hardware

 

 

812.2

 

 

 

842.0

 

Corporate and eliminations

 

 

404.9

 

 

 

407.6

 

Total assets

 

$

4,435.6

 

 

$

4,198.8