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REVENUE RECOGNITION (Tables)

12 Months Ended

Dec. 31, 2018

Revenue Recognition

Summary of contracts asset and liabilities

Contract assets and liabilities consisted of the following (amounts in thousands):

		December 31, 2018		January 1, 2018		$ Change		% Change
Contract asset – current	$	1,900	$	1,176	$	724		62%
Contract asset – noncurrent		802		453		349		77%
Contract liabilities		(13,787)		(9,912)		(3,875)		39%
Net contract liability	$	(11,085)	$	(8,283)	$	(2,802)		34%

ASU 2014-09

Revenue Recognition

Summary of changes to the Company’s financial statements as a result of the adoption of ASC 606

The tables below identify changes to the Company’s financial statements as of December 31, 2018 and for the year then ended as a result of the adoption of ASC 606 as compared to previous revenue guidance (amounts in thousands):

Balance Sheet - December 31, 2018
		Reported		Change		Under previous guidance
Prepayments and other current assets	$	37,855	$	(3,319)	$	34,536
Total current assets		275,765		(3,319)		272,446
Other assets		37,708		(1,785)		35,923
Total assets		1,107,304		(5,104)		1,102,200
Advance payments and deposits		20,574		(337)		20,237
Accrued taxes		31,795		(131)		31,664
Total current liabilities		140,650		(468)		140,182
Deferred income taxes		10,276		(302)		9,974
Total liabilities		283,980		(770)		283,210
Retained earnings		563,593		(2,481)		561,112
Minority interest		127,937		(1,853)		126,084
Total equity		823,324		(4,334)		818,990
Total liabilities and equity	$	1,107,304	$	(5,104)	$	1,102,200

		Statement of Operations
		Year ended December 31, 2018
		Reported		Change		Under previous guidance
Wireless revenue	$	198,824	$	(1,075)	$	197,749
Total revenue		451,207		(1,075)		450,132
Sales, marketing and customer service		35,207		755		35,962
Total operating expenses		390,184		755		390,939
Income from operations		61,023		(1,830)		59,193
Income before taxes		53,742		(1,830)		51,912
Income tax provision		18,870		(131)		18,739
Net income		34,872		(1,699)		33,173
Net income attributable  to non-controlling interests		(15,057)		706		(14,351)
Net income attributable to ATN International, Inc. stockholders	$	19,815	$	(993)	$	18,822

		Statement of Comprehensive Loss
		Year ended December 31, 2018
		Reported		Change		Under previous guidance
Net income	$	34,872	$	(1,699)	$	33,173
Other comprehensive loss, net of tax		(5,152)		—		(5,152)
Comprehensive loss		29,720		(1,699)		28,021
Less: Comprehensive income attributable to non-controlling interests		(15,057)		706		(14,351)
Comprehensive income (loss) attributable to ATN International, Inc.	$	14,663	$	(993)	$	13,670

Statement of Cash Flows - Year ended December 31, 2018
		Reported		Change (1)		Under previous guidance
Net income	$	34,872	$	(1,699)	$	33,173
Materials and supplies, prepayments and other current assets	$	5,924	$	1,243	$	7,167
Accrued taxes		29,089		(131)		28,958
Accounts payable and accrued liabilities, advance payments and deposits and other current liabilities		(7,044)		(107)		(7,151)
Other assets	$	(238)	$	694	$	456

(1) The adoption of ASC 606 had no impact on operating cash flows, investing cash flows, financing cash flows or net change in total cash.

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