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v3.23.1

Property, Plant and Equipment | 3 Months Ended
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Mar. 31, 2023
Property, Plant and Equipment [Abstract] |
Property, Plant and Equipment | Property, Plant and Equipment Property, plant and equipment consist of the following:
($ in thousands) | Estimated Useful Lives |  | March 31, 2023 |  | December 31, 2022
Land |  |  | $ | 3,722 |  |  | $ | 3,722 |
Land improvements | 10 years |  | 3,483 |  |  | 3,483 |
Buildings and structures | 10 - 45 years |  | 94,488 |  |  | 93,461 |
Cable and fiber | 15 - 30 years |  | 635,083 |  |  | 593,771 |
Equipment and software | 4 - 8 years |  | 324,783 |  |  | 317,347 |
Plant in service |  |  | 1,061,559 |  |  | 1,011,784 |
Plant under construction |  |  | 161,576 |  |  | 144,534 |
Total property, plant and equipment |  |  | 1,223,135 |  |  | 1,156,318 |
Less: accumulated depreciation and amortization |  |  | (483,548) |  |  | (468,765) |
Property, plant and equipment, net |  |  | $ | 739,587 |  |  | $ | 687,553 |
Property, plant and equipment net, increases were primarily attributable to capital expenditures in the Broadband segment due to expansion of Glo Fiber assets and market expansion. The Company's accounts payable as of March 31, 2023 and December 31, 2022 included amounts associated with capital expenditures of approximately $44.3 million and $43.8 million, respectively. Depreciation and amortization expense was $15.7 million and $14.5 million during the three months ended March 31, 2023 and 2022, respectively. On August 23, 2022, the Company entered into a definitive asset purchase agreement (the "Spectrum Purchase Agreement") with a wireless carrier pursuant to which the Company agreed to sell certain Federal Communications Commission ("FCC") spectrum licenses and leases previously utilized in the Company's Beam branded fixed wireless service for total consideration of approximately $21.5 million, composed of $17.7 million cash and approximately $3.8 million of liabilities to be assumed by the wireless carrier (the "Spectrum Transaction"). The Spectrum Transaction is expected to close by the end of the third quarter of 2023, subject to the receipt of regulatory approvals and other customary closing conditions.

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- Definition The entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 6 -URI https://asc.fasb.org/extlink&oid=126982197&loc=d3e99893-112916 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI https://asc.fasb.org/topic&trid=2155823 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 7 -URI https://asc.fasb.org/extlink&oid=126982197&loc=SL120174063-112916 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 1 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=126982197&loc=d3e99779-112916 + Details
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