Business Segment Information

3 Months Ended

Mar. 31, 2025

Segment Reporting [Abstract]

Business Segment Information

11. Business Segment Information

The Company’s operations are managed and reported to its Chief Executive Officer (“CEO”), the Company’s chief operating decision maker ("CODM"). The CODM evaluates the performance of two regions, Greater Cincinnati, which services customers through the altafiber brand, and Hawaii, which services customers through our Hawaiian Telcom brand, and allocates resources based on geography. These operating segments are aggregated into one reportable segment, Network, due to similarities in the nature and economics of the regions, suppliers utilized, operating processes, and long-term financial performance. The accounting policies for the Network segment are consistent with those described in the Summary of Significant Accounting Policies.

The CODM uses Operating Income to evaluate income or loss generated from each region and to guide decisions on capital investments. These decisions may include capital expenditures and/or acquisitions. See Note 2 for a description of the Company's disaggregated revenues by product line. Significant segment expenses are presented in the Company’s consolidated statements of operations. Additional disaggregated significant segment expenses that are reviewed by the CODM, that are not separately presented on the Company’s consolidated statements of operations, are presented below. Segment asset information is not used by the CODM to allocate resources.

Certain corporate administrative expenses have been allocated to the Network segment based upon the nature of the expense.

Our business segment information is as follows:

	Three Months Ended March 31,
(dollars in millions)	2025			2024
Revenue
Network	$	276.4		$	271.6
Total revenue	$	276.4		$	271.6
Operating income (loss)
Network	$	16.3		$	3.8
Corporate		(5.6	)		(6.6	)
Total operating income (loss)	$	10.7		$	(2.8	)
Expenditures for long-lived assets*
Network	$	140.4		$	155.3
Corporate		2.8			—
Total expenditures for long-lived assets	$	143.2		$	155.3
Depreciation and amortization
Network	$	84.6		$	77.4
Corporate		—			—
Total depreciation and amortization	$	84.6		$	77.4

* Includes cost of acquisitions

The following table provides information about the Network segment significant expenses that are reviewed by the CODM, that are not separately presented on the Company's consolidated statements of operations:

	Three Months Ended March 31,
(dollars in millions)	2025		2024
Network Revenue	$	276.4	$	271.6
Less: Significant and other segment expenses
Employee and related costs		45.2		55.2
Programming expense		34.8		38.6
Network expense		7.5		9.2
Contract services		22.2		22.5
Other expenses		62.1		64.7
Depreciation and amortization expense		84.6		77.4
Restructuring and severance related charges		3.7		0.2
Network operating costs and expenses		260.1		267.8
Network operating income	$	16.3	$	3.8