Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2013

Summary of Significant Accounting Policies [Abstract]

Allowance for Doubtful Accounts

The activity in our accounts receivable allowance is presented in the following table:

	Year Ended December 31
(Dollars in thousands)	2013				2012				2011
Balance at beginning of year		$	278			$	436			$	570
Additions charged to expense			272				290				299
Write-offs			(180	)			(448	)			(433	)
Balance at end of year		$	370			$	278			$	436

Investments

Investments are accounted for under the cost method of accounting. This method requires us to periodically evaluate whether a non-temporary decrease in the value of the investment has occurred, and if so, to write this investment down to its net realizable value.

(Dollars in thousands)	2013		2012
CoBank, ACB Stock	$	2,357	$	2,180
RTFC Subordinated Capital Certificates		842		837
Other		215		196
Total investments	$	3,414	$	3,213

Components of property, plant and equipment

(Dollars in thousands)	2013			2012			Estimated Useful Lives
Land	$	1,102		$	1,102
Buildings		21,180			21,142		28-40 years
Leasehold improvements		5,829			4,680		3-39 years
Network and outside plant facilities		390,054			366,097		3-50 years
Furniture, fixtures and equipment		40,726			37,756		3-15 years
Construction in progress		2,821			6,846
		461,712			437,623
Less: Accumulated depreciation and amortization		(280,386	)		(254,664	)
Property, plant and equipment, net	$	181,326		$	182,959

Assets under Capital Lease

We lease certain computer equipment under capital lease arrangements. We have recorded the present value or fair value of the future minimum lease payments as a capitalized asset and related lease obligation. Assets under this capital lease are included in furniture, fixtures and equipment and amounted to:

(Dollars in thousands)	2013			2012
Capital leases	$	1,041		$	2,405
Less accumulated depreciation		(798	)		(1,994	)
Capital leases, net	$	243		$	411

Schedule of capitalized software costs

The components of capitalized software for internal use are summarized below:

(Dollars in thousands)	2013		2012		2011
Capitalized software for internal use	$	13,578	$	11,578	$	9,976
Accumulated amortization		9,969		8,515		7,579
Net capitalized software for internal use	$	3,609	$	3,063	$	2,397

Components of Goodwill

The components of goodwill are:

(Dollars in thousands)	2013		2012
Fiber and Data	$	5,384	$	5,384
Equipment		596		596
Telecom		23,048		23,048
Total Goodwill	$	29,028	$	29,028

Schedule of accrued expenses

The following table shows the Company's consolidated balance sheet details for accrued expenses and other:

(Dollars in thousands)
Year Ended	2013		2012
Accrued incentive compensation	$	1,792	$	2,005
Accrued wages and commissions		3,543		2,644
Other		5,108		6,232
Total accrued expense and other	$	10,443	$	10,881

Earnings Per Share, Basic and Diluted

(Dollars in thousands, except share and earnings per share amounts)	2013		2012		2011
Net income	$	7,732	$	8,298	$	8,401
Weighted average shares outstanding		13,548,007		13,409,743		13,296,668
Stock options (dilutive only)		7,538		12,254		12,531
Stock subscribed (ESPP)		-		2,185		-
Retention awards		26,101		31,416		23,899
Stock subscribed (LTEIP)		24,571		72,441		86,549
Total dilutive shares outstanding		13,606,217		13,528,039		13,419,647
Earnings per share:
Basic	$	0.57	$	0.62	$	0.63
Diluted	$	0.57	$	0.61	$	0.63
Dividends per share	$	0.585	$	0.565	$	0.545