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Debt and Other Financing Arrangements (Tables)
9 Months Ended
Sep. 30, 2022
Debt Disclosure [Abstract]  
Schedule of Debt

The Company’s debt consists of the following:

 

(dollars in millions)

 

September 30, 2022

 

 

December 31, 2021

 

Current portion of long-term debt:

 

 

 

 

 

 

 

 

Credit Agreement - Term B-1 Loans

 

$

5.0

 

 

$

5.0

 

Credit Agreement - Term B-2 Loans

 

 

6.5

 

 

 

6.5

 

7 1/4% Senior Notes due 2023 (1)

 

 

23.1

 

 

 

—

 

Paniolo Fiber Assets Financing Arrangement

 

 

0.5

 

 

 

0.5

 

Other financing arrangements

 

 

0.3

 

 

 

0.5

 

Finance lease liabilities

 

 

9.3

 

 

 

7.2

 

Current portion of long-term debt

 

 

44.7

 

 

 

19.7

 

Long-term debt, less current portion:

 

 

 

 

 

 

 

 

Receivables Facility

 

 

178.4

 

 

 

153.6

 

Credit Agreement - Revolving Credit Facility

 

 

164.0

 

 

 

—

 

Credit Agreement - Term B-1 Loans

 

 

491.3

 

 

 

495.0

 

Credit Agreement - Term B-2 Loans

 

 

638.6

 

 

 

643.5

 

7 1/4% Senior Notes due 2023 (1)

 

 

—

 

 

 

24.0

 

Various Cincinnati Bell Telephone notes (1)

 

 

96.6

 

 

 

97.5

 

Paniolo Fiber Assets Financing Arrangement

 

 

21.9

 

 

 

22.3

 

Other financing arrangements

 

 

—

 

 

 

0.4

 

Finance lease liabilities

 

 

42.0

 

 

 

42.3

 

 

 

 

1,632.8

 

 

 

1,478.6

 

Net unamortized discount

 

 

(4.5

)

 

 

(4.9

)

Unamortized note issuance costs

 

 

(40.1

)

 

 

(44.8

)

Long-term debt, less current portion

 

 

1,588.2

 

 

 

1,428.9

 

Total debt

 

$

1,632.9

 

 

$

1,448.6

 

 

(1)

As of September 30, 2022, the net carrying amounts of the 7 ¼% Senior Notes due 2023 and Various Cincinnati Bell Telephone notes included unamortized fair value adjustments related to the Merger of $0.8 million and $8.7 million, respectively. As of December 31, 2021, the net carrying amounts of the 7 ¼% Senior Notes due 2023 and Various Cincinnati Bell Telephone notes included unamortized fair value adjustments related to the Merger of $1.7 million and $9.6 million, respectively. Each adjustment is being amortized over the life of the respective notes and is recorded as a reduction of interest expense.