Equity

12 Months Ended

Dec. 31, 2023

Shareowners Deficit [Abstract]

Equity

12.Equity

Pursuant to the Merger Agreement, Parent acquired all of the equity interests in the Company. In connection with the consummation of the Merger Agreement, each of our issued and outstanding Common Shares was converted to $15.50 in cash per Common Share and paid to the shareholders.

The Company redeemed each of our issued and outstanding Depositary Shares simultaneously with the redemption of the 6 ¾% Preferred Shares at a redemption price of $50 per Depositary Share (equivalent to $1,000 per 6 ¾% Preferred Share).

Effective October 18, 2021, Parent amended and restated the Articles of Incorporation of Cincinnati Bell to reduce the number of authorized shares from 96,000,000 Common Shares to 100 Common Shares, each with $0.01 par value. As of December 31, 2023 and 2022, Parent is the sole shareholder of the Company’s 100 Common Shares.

Accumulated Other Comprehensive Income (Loss)

Shareowners’ equity includes accumulated other comprehensive income (loss) that is comprised of pension and postretirement unrecognized prior service benefit (cost) and unrecognized actuarial (gain) loss, and foreign currency translation gain (loss).

The changes in accumulated other comprehensive income (loss) by component were as follows:

(dollars in millions)	Unrecognized Net Periodic Pension and Postretirement Benefit (Cost)				Foreign Currency Translation Gain (Loss)			Total
Balance as of December 31, 2021	$	2.6			$	(1.4	)	$	1.2
Remeasurement of benefit obligations		25.1				—			25.1
Reclassifications, net		(0.6	)	(a)		—			(0.6	)
Foreign currency loss		—				(6.2	)		(6.2	)
Balance as of December 31, 2022	$	27.1			$	(7.6	)	$	19.5
Remeasurement of benefit obligations		10.5				—			10.5
Reclassifications, net		(4.4	)	(a)		—			(4.4	)
Foreign currency gain		—				2.6			2.6
Balance as of December 31, 2023	$	33.2			$	(5.0	)	$	28.2

(a)These reclassifications are included in the other components of net periodic pension and postretirement benefit plans expense and represent amortization of prior service benefit and actuarial gain, net of tax. The other components of net periodic pension and postretirement benefit plans expense are recorded in "Other components of pension and postretirement benefit plans expense (benefit)" on the Consolidated Statements of Operations. See Note 11 for further disclosures.