XML 45 R30.htm IDEA: XBRL DOCUMENT v3.24.1
Revenue (Tables)
12 Months Ended
Dec. 31, 2023
Revenue from Contract with Customer [Abstract]  
Schedule of Expected Revenue to be Recognized for Existing IRU Contracts The expected revenue to be recognized for existing IRU contracts is as follows:

 

(dollars in millions)

 

 

 

2024

 

$

21.4

 

2025

 

 

21.1

 

2026

 

 

21.7

 

2027

 

 

21.8

 

2028

 

 

9.5

 

Thereafter

 

 

97.0

 

Schedule of Activity of Contract Assets

The following table presents the activity for the Company’s contract assets:

 

 

 

Successor

 

 

 

Fulfillment Costs

 

 

Cost of Acquisition

 

 

Total Contract Assets

 

 

 

 

 

 

IT Services

 

 

 

 

 

 

 

 

IT Services

 

 

 

 

 

 

 

 

IT Services

 

 

 

 

 

 

 

 

 

and

 

 

Total

 

 

 

 

 

and

 

 

Total

 

 

 

 

 

and

 

 

Total

 

(dollars in millions)

 

Network

 

 

Hardware

 

 

Company

 

 

Network

 

 

Hardware

 

 

Company

 

 

Network

 

 

Hardware

 

 

Company

 

Balance as of September 8, 2021 (remeasured upon Merger)

 

$

 

 

$

 

 

$

 

 

$

 

 

$

 

 

$

 

 

$

 

 

$

 

 

$

 

Additions

 

 

0.7

 

 

 

0.8

 

 

 

1.5

 

 

 

3.5

 

 

 

0.4

 

 

 

3.9

 

 

 

4.2

 

 

 

1.2

 

 

 

5.4

 

Amortization

 

 

 

 

 

(0.1

)

 

 

(0.1

)

 

 

(0.2

)

 

 

(0.1

)

 

 

(0.3

)

 

 

(0.2

)

 

 

(0.2

)

 

 

(0.4

)

Balance as of December 31, 2021

 

 

0.7

 

 

 

0.7

 

 

 

1.4

 

 

 

3.3

 

 

 

0.3

 

 

 

3.6

 

 

 

4.0

 

 

 

1.0

 

 

 

5.0

 

Additions

 

 

2.2

 

 

 

2.6

 

 

 

4.8

 

 

 

11.3

 

 

 

1.6

 

 

 

12.9

 

 

 

13.5

 

 

 

4.2

 

 

 

17.7

 

Amortization

 

 

(0.4

)

 

 

(0.6

)

 

 

(1.0

)

 

 

(2.6

)

 

 

(0.9

)

 

 

(3.5

)

 

 

(3.0

)

 

 

(1.5

)

 

 

(4.5

)

Balance as of December 31, 2022

 

 

2.5

 

 

 

2.7

 

 

 

5.2

 

 

 

12.0

 

 

 

1.0

 

 

 

13.0

 

 

 

14.5

 

 

 

3.7

 

 

 

18.2

 

Additions

 

 

2.2

 

 

 

2.0

 

 

 

4.2

 

 

 

11.8

 

 

 

1.1

 

 

 

12.9

 

 

 

14.0

 

 

 

3.1

 

 

 

17.1

 

Amortization

 

 

(0.8

)

 

 

(1.4

)

 

 

(2.2

)

 

 

(5.5

)

 

 

(0.8

)

 

 

(6.3

)

 

 

(6.3

)

 

 

(2.2

)

 

 

(8.5

)

Balance as of December 31, 2023

 

$

3.9

 

 

$

3.3

 

 

$

7.2

 

 

$

18.3

 

 

$

1.3

 

 

$

19.6

 

 

$

22.2

 

 

$

4.6

 

 

$

26.8

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Predecessor

 

 

 

Fulfillment Costs

 

 

Cost of Acquisition

 

 

Total Contract Assets

 

 

 

 

 

 

IT Services

 

 

 

 

 

 

 

 

IT Services

 

 

 

 

 

 

 

 

IT Services

 

 

 

 

 

 

 

 

 

and

 

 

Total

 

 

 

 

 

and

 

 

Total

 

 

 

 

 

and

 

 

Total

 

(dollars in millions)

 

Network

 

 

Hardware

 

 

Company

 

 

Network

 

 

Hardware

 

 

Company

 

 

Network

 

 

Hardware

 

 

Company

 

Balance as of December 31, 2020

 

$

3.5

 

 

$

3.9

 

 

$

7.4

 

 

$

15.8

 

 

$

3.6

 

 

$

19.4

 

 

$

19.3

 

 

$

7.5

 

 

$

26.8

 

Additions

 

 

2.5

 

 

 

2.6

 

 

 

5.1

 

 

 

7.2

 

 

 

0.4

 

 

 

7.6

 

 

 

9.7

 

 

 

3.0

 

 

 

12.7

 

Amortization

 

 

(5.2

)

 

 

(1.9

)

 

 

(7.1

)

 

 

(6.7

)

 

 

(1.1

)

 

 

(7.8

)

 

 

(11.9

)

 

 

(3.0

)

 

 

(14.9

)

Balance as of September 7, 2021

 

$

0.8

 

 

$

4.6

 

 

$

5.4

 

 

$

16.3

 

 

$

2.9

 

 

$

19.2

 

 

$

17.1

 

 

$

7.5

 

 

$

24.6

 

Schedule of Revenues Disaggregation by Product and Service Lines

The following table presents revenues disaggregated by product and service lines:

 

 

 

Successor

 

 

 

Predecessor

 

 

 

Year Ended

 

 

Year Ended

 

 

September 8, 2021 to

 

 

 

January 1, 2021 to

 

(dollars in millions)

 

December 31, 2023

 

 

December 31, 2022

 

 

December 31, 2021

 

 

 

September 7, 2021

 

Data

 

$

557.1

 

 

$

523.3

 

 

$

156.2

 

 

 

$

334.6

 

Video

 

 

193.7

 

 

 

193.6

 

 

 

60.4

 

 

 

 

131.8

 

Voice

 

 

218.6

 

 

 

230.8

 

 

 

76.4

 

 

 

 

177.3

 

Other

 

 

33.5

 

 

 

46.6

 

 

 

10.8

 

 

 

 

20.5

 

Total Network

 

 

1,002.9

 

 

 

994.3

 

 

 

303.8

 

 

 

 

664.2

 

Consulting

 

 

342.0

 

 

 

339.4

 

 

 

105.5

 

 

 

 

193.6

 

Cloud

 

 

118.5

 

 

 

101.7

 

 

 

31.9

 

 

 

 

66.4

 

Communications

 

 

224.2

 

 

 

222.3

 

 

 

68.5

 

 

 

 

149.1

 

Infrastructure Solutions

 

 

154.0

 

 

 

164.5

 

 

 

53.4

 

 

 

 

83.3

 

Total IT Services and Hardware

 

 

838.7

 

 

 

827.9

 

 

 

259.3

 

 

 

 

492.4

 

Intersegment revenue

 

 

(24.3

)

 

 

(26.2

)

 

 

(8.7

)

 

 

 

(17.9

)

Total revenue

 

$

1,817.3

 

 

$

1,796.0

 

 

$

554.4

 

 

 

$

1,138.7

 

The following table presents revenues disaggregated by contract type:

 

 

Successor

 

 

 

Predecessor

 

 

 

Year Ended

 

 

Year Ended

 

 

September 8, 2021 to

 

 

 

January 1, 2021 to

 

(dollars in millions)

 

December 31, 2023

 

 

December 31, 2022

 

 

December 31, 2021

 

 

 

September 7, 2021

 

Network

 

 

 

 

 

 

 

 

 

 

 

 

 

Products and services transferred at a point in time

 

$

26.3

 

 

$

27.3

 

 

$

8.0

 

 

 

$

15.8

 

Products and services transferred over time

 

 

960.2

 

 

 

947.7

 

 

 

289.3

 

 

 

 

635.3

 

Intersegment revenue

 

 

16.4

 

 

 

19.3

 

 

 

6.5

 

 

 

 

13.1

 

Total Network

 

 

1,002.9

 

 

 

994.3

 

 

 

303.8

 

 

 

 

664.2

 

IT Services and Hardware

 

 

 

 

 

 

 

 

 

 

 

 

 

Products and services transferred at a point in time

 

 

175.4

 

 

 

167.2

 

 

 

59.4

 

 

 

 

90.1

 

Products and services transferred over time

 

 

655.4

 

 

 

653.8

 

 

 

197.7

 

 

 

 

397.5

 

Intersegment revenue

 

 

7.9

 

 

 

6.9

 

 

 

2.2

 

 

 

 

4.8

 

Total IT Services and Hardware

 

 

838.7

 

 

 

827.9

 

 

 

259.3

 

 

 

 

492.4

 

Total Revenue

 

 

 

 

 

 

 

 

 

 

 

 

 

Total products and services transferred at a point in time

 

 

201.7

 

 

 

194.5

 

 

 

67.4

 

 

 

 

105.9

 

Total products and services transferred over time

 

 

1,615.6

 

 

 

1,601.5

 

 

 

487.0

 

 

 

 

1,032.8

 

Total revenue

 

$

1,817.3

 

 

$

1,796.0

 

 

$

554.4

 

 

 

$

1,138.7