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Income taxes: (Tables)

12 Months Ended

Dec. 31, 2024

Income taxes:

Schedule of the components of (loss) income before income taxes

The components of (loss) income before income taxes consist of the following (in thousands):

​	​	​	​	​	​	​	​	​	​
​	​	Years Ended December 31,
​		2024			2023			2022
Domestic	​	$	(257,523)	​	$	1,217,084	​	$	34,784
Foreign	​		(2,126)	​	​	2,393	​	​	(8,408)
Total (loss) income before income taxes	​	$	(259,649)	​	$	1,219,477	​	$	26,376

Schedule of income tax benefit (expense)

The income tax benefit (expense) is comprised of the following (in thousands):

​	​	​	​	​	​	​	​	​	​
​	​	Years Ended December 31,
​		2024			2023			2022
Current:	​	​	​	​	​	​	​	​	​
Federal	​	$	—	​	$	(3,638)	​	$	—
State	​		4,620	​		(11,868)	​		(4,195)
Foreign	​		(351)	​		(203)	​		(496)
Deferred:	​	​	​	​	​	​	​	​	​
Federal	​		54,859	​		53,393	​		(16,299)
State	​		(3,143)	​		16,086	​		(143)
Foreign	​		(410)	​		194	​		(97)
Total income tax benefit (expense)	​	$	55,575	​	$	53,964	​	$	(21,230)

Schedule of net deferred tax assets

Our consolidated temporary differences comprising our net deferred tax assets are as follows (in thousands):

​

​	​	​	​	​	​	​
​	​	December 31,
​		2024			2023
Deferred Tax Assets:	​	​	​	​	​	​
Net operating loss carry-forwards	​	$	236,346	​	$	244,306
Interest expense limitation	​		66,386	​	​	34,828
Accrued liabilities and other	​	​	8,584	​	​	12,055
Operating leases	​	​	98,261	​	​	107,563
Total gross deferred tax assets	​		409,577	​	​	398,752
Valuation allowance	​	​	(131,773)	​	​	(136,533)
​	​	​	277,804	​	​	262,219
Deferred Tax Liabilities:	​	​	​	​	​	​
Property & equipment	​		308,254	​	​	295,630
Intangibles	​		113,596	​	​	118,727
Deferred consideration – IP Transit Services Agreement	​	​	63,070	​	​	114,844
Investment in foreign subsidiaries	​	​	95,974	​	​	100,081
Right-of-use assets	​	​	95,176	​	​	104,435
Gross deferred tax liabilities	​		676,070	​	​	733,717
Net deferred tax liabilities	​	$	398,266	​	$	471,498

Schedule of reconciliation of the Federal statutory income taxes to the amounts reported in the financial statements

The following is a reconciliation of the Federal statutory income taxes to the amounts reported in the financial statements (in thousands).

​

​	​	​	​	​	​	​	​	​	​
​	​	Years Ended December 31,
​		2024			2023			2022
Federal income tax expense at statutory rates	​	$	54,381	​	$	(256,086)	​	$	(5,537)
Effect of:	​	​	​	​	​	​	​	​	​
State income taxes, net of federal benefit	​		1,587	​	​	3,722	​	​	(1,700)
Impact of foreign operations	​		(1,602)	​	​	868	​	​	(651)
Non-deductible expenses	​		(2,713)	​	​	(2,783)	​	​	(2,679)
Bargain purchase gain - Sprint Business acquisition	​	​	4,662	​	​	295,351	​	​	—
Tax effect of TCJA from foreign earnings	​		—	​	​	(490)	​	​	(360)
Changes in valuation allowance	​		(740)	​	​	13,382	​	​	(10,303)
Income tax benefit (expense)	​	$	55,575	​	$	53,964	​	$	(21,230)

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Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

+ References

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-Topic 740
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Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

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Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

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