XML 33 R22.htm IDEA: XBRL DOCUMENT
v3.22.1

EARNINGS PER SHARE AND REDEEMABLE NONCONTROLLING INTERESTS | 3 Months Ended
--- | ---
Mar. 31, 2022
EARNINGS PER SHARE AND REDEEMABLE NONCONTROLLING INTERESTS |
EARNINGS PER SHARE AND REDEEMABLE NONCONTROLLING INTERESTS | ​ 12. EARNINGS PER SHARE AND REDEEMABLE NONCONTROLLING INTERESTS ​ Earnings Per Share ​ The following table reconciles the numerator and denominator in the computations of basic and diluted earnings per share (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​
​ | Three months ended March 31,
​ | 2022 | ​ | 2021
Numerator: | ​ | ​ | ​ | ​ | ​
Net loss attributable to ATN International, Inc. stockholders | ​ | (948) | ​ | ​ | 2,706
Less: Preferred dividends | ​ | (1,116) | ​ | ​ | —
Net loss attributable to ATN International, Inc. common stockholders | $ | (2,064) | ​ | $ | 2,706
​ | ​ | ​ | ​ | ​ | ​
Denominator: | ​ | ​ | ​ | ​ | ​
Weighted-average shares outstanding- Basic | ​ | 15,708 | ​ | ​ | 15,902
Effective of dilutive securities: | ​ | ​ | ​ | ​ | ​
Stock options, restricted stock units and performance stock units | ​ | — | ​ | ​ | 50
Weighted-average shares outstanding- Diluted | ​ | 15,708 | ​ | ​ | 15,952
​ For each of the three months ended March 31, 2022 and 2021, the calculations of basic and diluted weighted average shares of common stock outstanding do not include 5,000 shares relating to stock options as the effects of those options were anti-dilutive. ​ Redeemable Noncontrolling Interests ​ In connection with the Alaska Transaction, the Company has accounted for the Freedom 3 Investment as redeemable noncontrolling interests in its consolidated financial statements. The redeemable noncontrolling interests consist of $22.6 million of redeemable common units and $48.3 million of redeemable preferred units. The common units contain a put option allowing the holder to sell the common units to a subsidiary of the Company at the then fair market value. The put option is solely the obligation of Alaska Communications and is nonrecourse to the Company. The put option begins at the earlier of a future initial public offering of the Alaska Communications operations or July 2028. The fair value of the common units remained at $22.6 million at March 31, 2022, unchanged from the value at July 22, 2021. The redeemable preferred equity carries a 9% preferred dividend which compounds quarterly. The preferred units contain a put option allowing the holder to sell the preferred units to a subsidiary of the Company at the unpaid issue price plus unpaid dividends. The put option is solely the obligation of the Alaska Communications and is nonrecourse to the Company. The put option begins at the earlier of a future initial public offering of the Alaska Communications operations or July 2028. The unpaid preferred dividend was $3.1 million at March 31, 2022. ​ For the three months ended March 31, 2022, the Company allocated losses of $1.1 million to the redeemable common units representing their proportionate share of operating losses. Additionally, the fair value of the redeemable common units increased by $1.1 million during the three months ended March 31, 2022. ​ The following table provides a roll forward of the activity related to the Company’s redeemable noncontrolling interests for the three months ended March 31, 2022: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | Redeemable Preferred Units | ​ | Redeemable Common Units | ​ | Total Redeemable Noncontrolling Interests
Balance, December 31, 2021 | $ | 50,296 | ​ | $ | 22,640 | ​ | $ | 72,936
Accrued preferred dividend | ​ | 1,116 | ​ | ​ | — | ​ | ​ | 1,116
Allocated net loss | ​ | — | ​ | ​ | (1,092) | ​ | ​ | (1,092)
Change in fair value | ​ | — | ​ | ​ | 1,092 | ​ | ​ | 1,092
Balance, March 31, 2022 | $ | 51,412 | ​ | $ | 22,640 | ​ | $ | 74,052
​

X
- References No definition available. + Details
Name: | us-gaap_EarningsPerShareAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=109243012&loc=SL65017193-207537 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI http://asc.fasb.org/topic&trid=2144383 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=124432515&loc=d3e3630-109257 + Details
Name: | us-gaap_EarningsPerShareTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration