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Leases

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

Leases

Leases

The Company leases various broadband network and telecommunications sites, fiber optic cable routes, warehouses, retail stores and office facilities for use in our business.

The components of lease costs were as follows:

			Classification						Years Ended December 31,
(in thousands)									2023						2022						2021
Finance lease cost
Amortization of leased assets			Depreciation						$	477					$	477					$	498
Interest on lease liabilities			Interest expense						78						83						95
Operating lease cost			Operating expense1						6,982						7,570						7,063
Lease cost									$	7,537					$	8,130					$	7,656

_________________________________________

(1)Operating lease expense is presented in cost of service or selling, general and administrative expense based on the use of the relevant facility.

The following table summarizes the expected maturity of lease liabilities at December 31, 2023:

(in thousands)						Operating Leases						Finance Leases						Total
2024						$	5,626					$	178					$	5,804
2025						5,555						180						5,735
2026						4,702						153						4,855
2027						3,874						155						4,029
2028						3,539						158						3,697
2029 and thereafter						61,732						1,201						62,933
Total lease payments						85,028						2,025						87,053
Less: interest						(33,589)						(526)						(34,115)
Present value of lease liabilities						$	51,439					$	1,499					$	52,938

			December 31, 2023						December 31, 2022
Operating leases
Weighted average remaining lease term (years)			19.2						19.8
Weighted average discount rate			4.9		%				4.5		%
Finance leases
Weighted average remaining lease term (years)			12.3						13.1
Weighted average discount rate			5.2		%				5.2		%

						Years Ended December 31,
(in thousands)						2023						2022						2021
Cash paid for operating lease liabilities						$	6,379					$	6,116					$	5,643
Operating lease right-of-use assets obtained in exchange for new lease liabilities (includes new leases or modifications of existing leases)						$	2,037					$	2,527					$	11,140

The Company recognized $18.5 million, $18.4 million and $11.1 million of operating lease revenue for the years ended December 31, 2023, 2022 and 2021, respectively, related to the cell site colocation space and dedicated fiber optic strands that we lease to our customers, which is included in service revenue and other in the consolidated statements of comprehensive income (loss). Substantially all of our lease revenue relates to fixed lease payments.

Below is a summary of our contractual minimum rental receipts expected under the lease agreements in place at December 31, 2023:

(in thousands)						Operating Leases
2024						$	16,508
2025						15,574
2026						12,517
2027						11,022
2028						9,529
2029 and thereafter						16,275
Total						$	81,425

Leases

Leases

The Company leases various broadband network and telecommunications sites, fiber optic cable routes, warehouses, retail stores and office facilities for use in our business.

The components of lease costs were as follows:

			Classification						Years Ended December 31,
(in thousands)									2023						2022						2021
Finance lease cost
Amortization of leased assets			Depreciation						$	477					$	477					$	498
Interest on lease liabilities			Interest expense						78						83						95
Operating lease cost			Operating expense1						6,982						7,570						7,063
Lease cost									$	7,537					$	8,130					$	7,656

_________________________________________

(1)Operating lease expense is presented in cost of service or selling, general and administrative expense based on the use of the relevant facility.

The following table summarizes the expected maturity of lease liabilities at December 31, 2023:

(in thousands)						Operating Leases						Finance Leases						Total
2024						$	5,626					$	178					$	5,804
2025						5,555						180						5,735
2026						4,702						153						4,855
2027						3,874						155						4,029
2028						3,539						158						3,697
2029 and thereafter						61,732						1,201						62,933
Total lease payments						85,028						2,025						87,053
Less: interest						(33,589)						(526)						(34,115)
Present value of lease liabilities						$	51,439					$	1,499					$	52,938

			December 31, 2023						December 31, 2022
Operating leases
Weighted average remaining lease term (years)			19.2						19.8
Weighted average discount rate			4.9		%				4.5		%
Finance leases
Weighted average remaining lease term (years)			12.3						13.1
Weighted average discount rate			5.2		%				5.2		%

						Years Ended December 31,
(in thousands)						2023						2022						2021
Cash paid for operating lease liabilities						$	6,379					$	6,116					$	5,643
Operating lease right-of-use assets obtained in exchange for new lease liabilities (includes new leases or modifications of existing leases)						$	2,037					$	2,527					$	11,140

The Company recognized $18.5 million, $18.4 million and $11.1 million of operating lease revenue for the years ended December 31, 2023, 2022 and 2021, respectively, related to the cell site colocation space and dedicated fiber optic strands that we lease to our customers, which is included in service revenue and other in the consolidated statements of comprehensive income (loss). Substantially all of our lease revenue relates to fixed lease payments.

Below is a summary of our contractual minimum rental receipts expected under the lease agreements in place at December 31, 2023:

(in thousands)						Operating Leases
2024						$	16,508
2025						15,574
2026						12,517
2027						11,022
2028						9,529
2029 and thereafter						16,275
Total						$	81,425

Leases

Leases

The Company leases various broadband network and telecommunications sites, fiber optic cable routes, warehouses, retail stores and office facilities for use in our business.

The components of lease costs were as follows:

			Classification						Years Ended December 31,
(in thousands)									2023						2022						2021
Finance lease cost
Amortization of leased assets			Depreciation						$	477					$	477					$	498
Interest on lease liabilities			Interest expense						78						83						95
Operating lease cost			Operating expense1						6,982						7,570						7,063
Lease cost									$	7,537					$	8,130					$	7,656

_________________________________________

(1)Operating lease expense is presented in cost of service or selling, general and administrative expense based on the use of the relevant facility.

The following table summarizes the expected maturity of lease liabilities at December 31, 2023:

(in thousands)						Operating Leases						Finance Leases						Total
2024						$	5,626					$	178					$	5,804
2025						5,555						180						5,735
2026						4,702						153						4,855
2027						3,874						155						4,029
2028						3,539						158						3,697
2029 and thereafter						61,732						1,201						62,933
Total lease payments						85,028						2,025						87,053
Less: interest						(33,589)						(526)						(34,115)
Present value of lease liabilities						$	51,439					$	1,499					$	52,938

			December 31, 2023						December 31, 2022
Operating leases
Weighted average remaining lease term (years)			19.2						19.8
Weighted average discount rate			4.9		%				4.5		%
Finance leases
Weighted average remaining lease term (years)			12.3						13.1
Weighted average discount rate			5.2		%				5.2		%

						Years Ended December 31,
(in thousands)						2023						2022						2021
Cash paid for operating lease liabilities						$	6,379					$	6,116					$	5,643
Operating lease right-of-use assets obtained in exchange for new lease liabilities (includes new leases or modifications of existing leases)						$	2,037					$	2,527					$	11,140

The Company recognized $18.5 million, $18.4 million and $11.1 million of operating lease revenue for the years ended December 31, 2023, 2022 and 2021, respectively, related to the cell site colocation space and dedicated fiber optic strands that we lease to our customers, which is included in service revenue and other in the consolidated statements of comprehensive income (loss). Substantially all of our lease revenue relates to fixed lease payments.

Below is a summary of our contractual minimum rental receipts expected under the lease agreements in place at December 31, 2023:

(in thousands)						Operating Leases
2024						$	16,508
2025						15,574
2026						12,517
2027						11,022
2028						9,529
2029 and thereafter						16,275
Total						$	81,425

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- Definition

The entire disclosure for finance leases of lessee. Includes, but is not limited to, description of lessee's finance lease and maturity analysis of finance lease liability.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 842
-SubTopic 20
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//842-20/tableOfContent

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- Definition

The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 842
-SubTopic 20
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//842-20/tableOfContent

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- Definition

The entire disclosure for lessor's operating leases.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 842
-SubTopic 30
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//842-30/tableOfContent

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