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SEGMENT REPORTING
 9 Months Ended
Sep. 30, 2014
SEGMENT REPORTING  
SEGMENT REPORTING

11. SEGMENT REPORTING

 

The Company has four reportable segments for separate disclosure in accordance with the FASB’s authoritative guidance on disclosures about segments of an enterprise. Those four segments are: i) U.S. Wireless, which generates all of its revenues in and has all of its assets located in the United States, ii) International Integrated Telephony, which generates all of its revenues in and has all of its assets located in Guyana, iii) Island Wireless, which generates a majority of its revenues in, and has a majority of its assets located in, Bermuda and which also generates revenues in and has assets located in the U.S. Virgin Islands, Aruba and Turks and Caicos and iv) U.S. Wireline, which generates all of its revenues in and has all of its assets located in the United States. The operating segments are managed separately because each offers different services and serves different markets.

 

The following tables provide information for each operating segment (in thousands):

 

 

 

For the Three Months Ended September 30, 2013

 

 

 

U.S. Wireless

 

International
Integrated
Telephony

 

Island
Wireless

 

U.S.
Wireline

 

Reconciling
Items

 

Consolidated

 

Revenue

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. wireless

 

$
32,796

 

$

—

 

$

—

 

$

—

 

$

—

 

$
32,796

 

International wireless

 

—

 
7,046

 
15,849

 

—

 

—

 
22,895

 

Wireline

 
152

 
15,640

 

—

 
5,712

 

—

 
21,504

 

Equipment and other

 
109

 
388

 
1,594

 
64

 

—

 
2,155

 

Total revenue

 
33,057

 
23,074

 
17,443

 
5,776

 

—

 
79,350

 

Depreciation and amortization

 
4,039

 
4,551

 
2,551

 
816

 
378

 
12,335

 

Non-cash stock-based compensation

 

—

 

—

 

—

 

—

 
926

 
926

 

Operating income (loss)

 
18,293

 
7,028

 
3,292

 
(255

)
(8,320

)
20,038

 

 

 

 

For the Nine Months Ended September 30, 2013

 

 

 

U.S. Wireless

 

International
Integrated
Telephony

 

Island
Wireless

 

U.S.
Wireline

 

Reconciling
Items

 

Consolidated

 

Revenue

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. wireless

 

$
80,597

 

$

—

 

$

—

 

$

—

 

$

—

 

$
80,597

 

International wireless

 

—

 
20,330

 
45,832

 

—

 

—

 
66,162

 

Wireline

 
457

 
46,493

 

—

 
15,995

 

—

 
62,945

 

Equipment and other

 
313

 
1,151

 
4,468

 
171

 

—

 
6,103

 

Total revenue

 
81,367

 
67,974

 
50,300

 
16,166

 

—

 
215,807

 

Depreciation and amortization

 
12,119

 
13,476

 
7,705

 
2,252

 
965

 
36,517

 

Non-cash stock-based compensation

 

—

 

—

 

—

 

—

 
2,898

 
2,898

 

Operating income (loss)

 
40,472

 
19,596

 
7,226

 
(786

)
(18,485

)
48,023

 

 

 

 

For the Three Months Ended September 30, 2014

 

 

 

U.S. Wireless

 

International
Integrated
Telephony

 

Island
Wireless

 

U.S.
Wireline

 

Reconciling
Items

 

Consolidated

 

Revenue

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. wireless

 

$
44,306

 

$

—

 

$

—

 

$

—

 

$

—

 

$
44,306

 

International wireless

 

—

 
6,399

 
15,158

 

—

 

—

 
21,557

 

Wireline

 
152

 
15,249

 

—

 
6,130

 

—

 
21,531

 

Equipment and other

 
278

 
183

 
1,469

 
69

 

—

 
1,999

 

Total revenue

 
44,736

 
21,831

 
16,627

 
6,199

 

 

 
89,393

 

Depreciation and amortization

 
3,657

 
4,397

 
2,596

 
1,193

 
999

 
12,842

 

Non-cash stock-based compensation

 

—

 

—

 

—

 

—

 
1,002

 
1,002

 

Operating income (loss)

 
27,585

 
5,065

 
2,231

 
(471

)
(6,252

)
28,158

 

 

 

 

For the Nine Months Ended September 30, 2014

 

 

 

U.S. Wireless

 

International
Integrated
Telephony

 

Island
Wireless

 

U.S.
Wireline

 

Reconciling
Items

 

Consolidated

 

Revenue

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. wireless

 

$
110,153

 

$

—

 

$

—

 

$

—

 

$

—

 

$
110,153

 

International wireless

 

—

 
20,054

 
47,073

 

—

 

—

 
67,127

 

Wireline

 
457

 
44,399

 

—

 
19,488

 

—

 
64,344

 

Equipment and other

 
663

 
573

 
4,782

 
194

 

—

 
6,212

 

Total revenue

 
111,273

 
65,026

 
51,855

 
19,682

 

 

 
247,836

 

Depreciation and amortization

 
10,413

 
13,111

 
7,810

 
3,519

 
2,899

 
37,752

 

Non-cash stock-based compensation

 

—

 

—

 

—

 

—

 
3,381

 
3,381

 

Operating income (loss)

 
63,826

 
15,293

 
8,210

 
(2,511

)
(18,804

)
66,014

 

 

 

 

Segment Assets

 

 

 

U.S. Wireless

 

International
Integrated
Telephony

 

Island
Wireless

 

U.S.
Wireline

 

Reconciling
Items

 

Consolidated

 

December 31, 2013:

 

 

 

 

 

 

 

 

 

 

 

 

 

Net fixed assets

 

$
73,592 

 

$
118,917 

 

$
29,310 

 

$
26,082 

 

$
6,731 

 

$
254,632 

 

Goodwill

 
32,148 

 

—

 
5,438 

 
7,491 

 

—

 
45,077 

 

Total assets

 
151,094 

(1)
197,903 

 
74,427 

 
45,351 

 
390,944 

 
859,719 

 

September 30, 2014:

 

 

 

 

 

 

 

 

 

 

 

 

 

Net fixed assets

 

$
75,930 

 

$
110,870 

 

$
26,622 

 

$
26,930 

 

$
13,156 

 

$
253,508 

 

Goodwill

 
32,148 

 

—

 
5,438 

 
7,491 

 

—

 
45,077 

 

Total assets

 
178,208 

(1)
200,770 

 
78,417 

 
43,359 

 
342,677 

 
843,431 

 

 

(1)

Includes $4,748 and $73,492 of assets associated with our discontinued operations as of December 31, 2013 and September 30, 2014, respectively.

 

 

 

Capital Expenditures

 

 

 

U.S. Wireless

 

International
Integrated
Telephony

 

Island
Wireless

 

U.S.
Wireline

 

Reconciling
Items

 

Consolidated

 

Nine Months Ended September 30,

 

 

 

 

 

 

 

 

 

 

 

 

 

2013

 

$
27,736 

 

$
9,039 

 

$
4,014 

 

$
11,231 

 

$
3,151 

 

$
55,171 

 

2014

 

$
26,496 

 

$
6,816 

 

$
3,966 

 

$
2,325 

 

$
2,096 

 

$
41,699