XML 41 R31.htm IDEA: XBRL DOCUMENT v3.23.1

FAIR VALUE MEASUREMENTS (Tables)

3 Months Ended

Mar. 31, 2023

Fair Value Disclosures [Abstract]

Schedule of Fair Value Measurements, Recurring and Nonrecurring

The carrying amounts, fair values and related fair value hierarchy levels of the Company’s financial assets and liabilities as of March 31, 2023 were as follows (in thousands):

			March 31, 2023
			Carrying Amount						Fair Value						Fair Value Hierarchy
Assets:
Cash and cash equivalents:
Money market investments			$	85,944					$	85,944					Level 1
Commercial paper			$	40,073					$	39,867					Level 2
Other noncurrent assets (including current portion):
Interest rate swap asset			$	42,730					$	42,730					Level 2
Liabilities:
Long-term debt (including current portion):
Term loans			$	1,781,030					$	1,753,395					Level 2
Revolving Credit Facility			$	488,000					$	475,800					Level 2
Senior Notes			$	650,000					$	529,750					Level 2
Convertible Notes			$	920,000					$	716,818					Level 2
Other noncurrent liabilities:
MBI Net Option			$	172,330					$	172,330					Level 3

Schedule of Assumptions Used to Determine the Fair Value of the MBI Net Option

The assumptions used to determine the fair value of the MBI Net Option consisted of the following:

			March 31, 2023												December 31, 2022
			Cable One						MBI						Cable One						MBI
Equity volatility			35.0		%				31.0		%				34.0		%				31.0		%
EBITDA volatility			10.0		%				10.0		%				10.0		%				10.0		%
EBITDA risk-adjusted discount rate			7.5		%				8.5		%				7.5		%				8.5		%
Cost of debt			7.8		%										7.5		%

X

- Definition

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 3
-URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19279-110258

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2C
-URI https://asc.fasb.org/extlink&oid=126976982&loc=SL7498348-110258

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (bb)
-URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258

+ Details

Name:	us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (bbb)
-URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258

+ Details

Name:	us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_FairValueDisclosuresAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration