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Business Segment Information (Tables)
6 Months Ended
Jun. 30, 2022
Segment Reporting [Abstract]  
Selected Financial Data for the Company's Business Segment Information

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

 

 

 

Successor

 

 

 

Predecessor

 

 

Successor

 

 

 

Predecessor

 

(dollars in millions)

 

Three Months Ended June 30, 2022

 

 

 

Three Months Ended June 30, 2021

 

 

Six Months Ended

June 30, 2022

 

 

 

Six Months Ended

June 30, 2021

 

Revenue

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Network

 

$

247.0

 

 

 

$

241.0

 

 

$

490.5

 

 

 

$

483.8

 

IT Services and Hardware

 

 

199.0

 

 

 

 

179.9

 

 

 

397.8

 

 

 

 

353.7

 

Intersegment

 

 

(6.5

)

 

 

 

(6.7

)

 

 

(13.0

)

 

 

 

(13.4

)

Total revenue

 

$

439.5

 

 

 

$

414.2

 

 

$

875.3

 

 

 

$

824.1

 

Intersegment revenue

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Network

 

$

4.8

 

 

 

$

4.9

 

 

$

9.7

 

 

 

$

9.7

 

IT Services and Hardware

 

 

1.7

 

 

 

 

1.8

 

 

 

3.3

 

 

 

 

3.7

 

Total intersegment revenue

 

$

6.5

 

 

 

$

6.7

 

 

$

13.0

 

 

 

$

13.4

 

Operating (loss) income

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Network

 

$

(18.9

)

 

 

$

28.1

 

 

$

(22.0

)

 

 

$

59.4

 

IT Services and Hardware

 

 

(5.1

)

 

 

 

7.6

 

 

 

(10.0

)

 

 

 

16.2

 

Corporate

 

 

(8.4

)

 

 

 

(5.3

)

 

 

(15.4

)

 

 

 

(12.6

)

Total operating (loss) income

 

$

(32.4

)

 

 

$

30.4

 

 

$

(47.4

)

 

 

$

63.0

 

Expenditures for long-lived assets*

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Network

 

$

171.1

 

 

 

$

52.8

 

 

$

252.6

 

 

 

$

107.8

 

IT Services and Hardware

 

 

7.1

 

 

 

 

6.2

 

 

 

13.4

 

 

 

 

11.9

 

Total expenditures for long-lived assets

 

$

178.2

 

 

 

$

59.0

 

 

$

266.0

 

 

 

$

119.7

 

Depreciation and amortization

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Network

 

$

103.4

 

 

 

$

61.6

 

 

$

196.8

 

 

 

$

122.4

 

IT Services and Hardware

 

 

26.6

 

 

 

 

10.2

 

 

 

52.6

 

 

 

 

20.3

 

Corporate

 

 

0.1

 

 

 

 

 

 

 

0.2

 

 

 

 

0.1

 

Total depreciation and amortization

 

$

130.1

 

 

 

$

71.8

 

 

$

249.6

 

 

 

$

142.8

 

 

*Includes cost of Agile acquisition

 

 

(dollars in millions)

 

June 30,

2022

 

 

December 31,

2021

 

Assets

 

 

 

 

 

 

 

 

Network

 

$

3,073.2

 

 

$

2,949.2

 

IT Services and Hardware

 

 

794.4

 

 

 

842.0

 

Corporate and eliminations

 

 

340.7

 

 

 

407.6

 

Total assets

 

$

4,208.3

 

 

$

4,198.8