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Condensed Consolidated Balance Sheets - USD ($)
$ in Millions
Sep. 30, 2021
Dec. 31, 2020
Current assets    
Cash and cash equivalents $ 5.4 $ 12.2
Receivables, less allowances of $0.9 and $23.0 337.5 369.6
Inventory, materials and supplies 61.5 35.5
Prepaid expenses 37.7 33.5
Other current assets 7.1 8.3
Total current assets 449.2 459.1
Property, plant and equipment, net 1,956.9 1,729.1
Operating lease right-of-use assets 41.4 37.4
Goodwill 646.3 161.5
Intangible assets, net 961.2 148.1
Deferred income tax assets 6.9 82.5
Other noncurrent assets 28.5 50.9
Total assets 4,090.4 2,668.6
Current liabilities    
Current portion of long-term debt 13.0 21.8
Accounts payable 319.9 299.2
Unearned revenue and customer deposits 56.3 68.9
Accrued taxes 25.3 28.1
Accrued interest 24.9 26.7
Accrued payroll and benefits 36.3 50.5
Other current liabilities 38.9 50.9
Total current liabilities 514.6 546.1
Long-term debt, less current portion 1,382.9 1,949.9
Operating lease liabilities 38.0 33.6
Pension and postretirement benefit obligations 149.6 200.2
Pole license agreement obligation 46.7 36.7
Deferred income tax liability 147.7 10.9
Other noncurrent liabilities 101.0 82.3
Total liabilities 2,380.5 2,859.7
Shareowners’ equity (deficit)    
Preferred stock, 2,357,299 shares authorized, 155,250 shares (3,105,000,depository shares) of 6 3/4% Cumulative Convertible Preferred Stock issued and outstanding at December 31, 2020; liquidation preference $1,000 per share ($50 per depositary share) 0.0 129.4
Common shares, $.01 par value; 96,000,000 shares authorized; 500,000 and 50,680,605 shares issued and outstanding at September 30, 2021 and December 31, 2020 0.0 0.5
Additional paid-in capital 1,716.1 2,670.3
Accumulated deficit (5.0) (2,831.6)
Accumulated other comprehensive loss (1.2) (159.7)
Total shareowners’ equity (deficit) 1,709.9 (191.1)
Total liabilities and shareowners’ equity (deficit) $ 4,090.4 $ 2,668.6