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Acquisitions, Divestures and Exchanges

12 Months Ended

Dec. 31, 2019

Business Combinations [Abstract]

Acquisitions, Divestures and Exchanges

Note 7 Acquisitions, Divestitures and Exchanges

On December 31, 2019, TDS acquired substantially all of the assets of MI Connection Communications System, dba Continuum, for $80 million in cash, subject to working capital adjustments. Continuum is a cable company that passes approximately 40,000 service addresses in North Carolina and offers broadband, video and voice services, which complement the TDS Telecom portfolio of products. The operations of Continuum will be included in the Cable segment for reporting purposes. The goodwill recorded represents future economic benefits expected to be generated by the acquisition. The allocation of the purchase price was as follows:

				Allocation of Purchase Price
	Purchase Price			Goodwill1			Intangible Assets Subject to Amortization2			Net Tangible Assets (Liabilities)
(Dollars in millions)
Continuum	$	80		$	38		$	9		$	33

¹  The entire amount of Goodwill acquired in 2019 is amortizable for income tax purposes.

² 

In 2019, at the date of acquisition, the weighted average amortization period for Intangible Assets Subject to Amortization acquired was approximately four years.

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- References

No definition available.

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- Definition

The entire disclosure for business combinations, including leverage buyout transactions (as applicable), and divestitures. This may include a description of a business combination or divestiture (or series of individually immaterial business combinations or divestitures) completed during the period, including background, timing, and assets and liabilities recognized and reclassified or sold. This element does not include fixed asset sales and plant closings.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
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-Publisher FASB
-Name Accounting Standards Codification
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