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Consolidated Balance Sheets - USD ($)
$ in Millions
Dec. 31, 2021
Dec. 31, 2020
Current assets    
Cash and cash equivalents $ 5.6 $ 12.2
Receivables, less allowances of $3.6 and $23.0 450.2 369.6
Inventory, materials and supplies 57.1 35.5
Prepaid expenses 50.4 33.5
Other current assets 9.1 8.3
Total current assets 572.4 459.1
Property, plant and equipment, net 1,966.6 1,729.1
Operating lease right-of-use assets 44.3 37.4
Goodwill 646.3 161.5
Intangible assets, net 928.3 148.1
Deferred income tax assets 5.3 82.5
Other noncurrent assets 35.6 50.9
Total assets 4,198.8 2,668.6
Current liabilities    
Current portion of long-term debt 19.7 21.8
Accounts payable 399.2 299.2
Unearned revenue and customer deposits 83.2 68.9
Accrued taxes 25.3 28.1
Accrued interest 1.9 26.7
Accrued payroll and benefits 41.9 50.5
Other current liabilities 45.5 50.9
Total current liabilities 616.7 546.1
Long-term debt, less current portion 1,428.9 1,949.9
Operating lease liabilities 40.2 33.6
Pension and postretirement benefit obligations 141.1 200.2
Pole license agreement obligation 46.2 36.7
Deferred income tax liabilities 139.6 10.9
Other noncurrent liabilities 96.0 82.3
Total liabilities 2,508.7 2,859.7
Shareowners’ equity (deficit)    
Preferred stock, no shares authorized, issued and outstanding at December 31, 2021; 2,357,299 shares authorized; 155,250 shares (3,105,000 depositary 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; 100 shares authorized at December 31, 2021; 96,000,000 shares authorized and 50,680,605 shares issued and outstanding at December 31, 2020 0.0 0.5
Additional paid-in capital 1,716.1 2,670.3
Accumulated deficit (27.2) (2,831.6)
Accumulated other comprehensive income (loss) 1.2 (159.7)
Total shareowners’ equity (deficit) 1,690.1 (191.1)
Total liabilities and shareowners’ equity (deficit) $ 4,198.8 $ 2,668.6