Business Segment Information

9 Months Ended

Sep. 30, 2021

Segment Reporting [Abstract]

Business Segment Information

12.    Business Segment Information

The Company’s segments are strategic business units that offer distinct products and services and are aligned with the Company's internal management structure and reporting. The Company operates two business segments identified as Entertainment and Communications and IT Services and Hardware.

The Entertainment and Communications segment provides products and services that can be categorized as Data, Video, Voice or Other. Data products include high-speed internet access, digital subscriber lines, ethernet, SONET, dedicated internet access, wavelength, digital signal and IRU. Video services provide our customers access to over 400 entertainment channels, over 150 high-definition channels, parental controls, HD DVR, Video On-Demand and access to a live TV streaming application. Voice represents traditional voice lines as well as fiber voice lines, consumer long distance, switched access and digital trunking. Other services consist of revenue generated from wiring projects for enterprise customers, advertising, directory assistance, maintenance and information services.

The IT Services and Hardware segment provides end-to-end solutions from consulting to implementation to ongoing optimization. These solutions include Cloud, Communications and Consulting services along with the sale, installation and maintenance of major branded Telecom and IT hardware reported as Infrastructure Solutions.

Certain corporate administrative expenses have been allocated to the segments based upon the nature of the expense and the relative size of the segment. Intercompany transactions between segments have been eliminated.

Selected financial data for the Company’s business segment information is as follows:

	Successor			Predecessor			Predecessor			Successor			Predecessor			Predecessor
(dollars in millions)	September 8, 2021 to September 30, 2021			July 1, 2021 to September 7, 2021			Three Months Ended September 30, 2020			September 8, 2021 to September 30, 2021			January 1, 2021 to September 7, 2021			Nine Months Ended September 30, 2020
Revenue
Entertainment and Communications	$	61.7		$	180.4		$	241.0		$	61.7		$	664.2		$	724.5
IT Services and Hardware		52.0			138.7			155.2			52.0			492.4			444.5
Intersegment		(2.3	)		(4.5	)		(6.7	)		(2.3	)		(17.9	)		(19.5	)
Total revenue	$	111.4		$	314.6		$	389.5		$	111.4		$	1,138.7		$	1,149.5
Intersegment revenue
Entertainment and Communications	$	1.6		$	3.4		$	4.9		$	1.6		$	13.1		$	14.8
IT Services and Hardware		0.7			1.1			1.8			0.7			4.8			4.7
Total intersegment revenue	$	2.3		$	4.5		$	6.7		$	2.3		$	17.9		$	19.5
Operating (loss) income
Entertainment and Communications	$	(2.3	)	$	18.9		$	27.2		$	(2.3	)	$	78.3		$	69.8
IT Services and Hardware		1.7			9.0			4.6			1.7			25.2			11.5
Corporate		(0.8	)		(63.2	)		(7.1	)		(0.8	)		(75.8	)		(49.1	)
Total operating (loss) income	$	(1.4	)	$	(35.3	)	$	24.7		$	(1.4	)	$	27.7		$	32.2
Expenditures for long-lived assets*
Entertainment and Communications	$	33.4		$	92.0		$	57.6		$	33.4		$	199.8		$	144.2
IT Services and Hardware		3.3			4.0			3.9			3.3			15.9			16.7
Corporate		1,620.7			—			—			1,620.7			—			—
Total expenditures for long-lived assets	$	1,657.4		$	96.0		$	61.5		$	1,657.4		$	215.7		$	160.9
Depreciation and amortization
Entertainment and Communications	$	24.3		$	44.5		$	61.6		$	24.3		$	166.9		$	190.0
IT Services and Hardware		5.8			7.6			10.2			5.8			27.9			30.7
Corporate		0.1			—			0.1			0.1			0.1			0.1
Total depreciation and amortization	$	30.2		$	52.1		$	71.9		$	30.2		$	194.9		$	220.8
* Includes cost of acquisitions in the Successor and Predecessor periods of 2021 and deposit for the purchase of wireless licenses in the three and nine months ended September 30, 2020

	Successor		Predecessor
(dollars in millions)	September 30, 2021		December 31, 2020
Assets
Entertainment and Communications	$	2,885.3	$	1,803.3
IT Services and Hardware		844.9		477.2
Corporate and eliminations		360.2		388.1
Total assets	$	4,090.4	$	2,668.6