XML 33 R22.htm IDEA: XBRL DOCUMENT
v3.24.3

EARNINGS PER SHARE AND REDEEMABLE NONCONTROLLING INTERESTS | 9 Months Ended
--- | ---
Sep. 30, 2024
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 September 30, | ​ | Nine months ended September 30,
​ | 2024 | ​ | 2023 | ​ | 2024 | ​ | 2023
Numerator: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net income (loss) attributable to ATN International, Inc. stockholders- Basic | ​ | (32,691) | ​ | ​ | (3,584) | ​ | ​ | (30,000) | ​ | ​ | (8,702)
Less: Preferred dividends | ​ | (1,426) | ​ | ​ | (1,303) | ​ | ​ | (4,154) | ​ | ​ | (3,593)
Net income (loss) attributable to ATN International, Inc. common stockholders- Diluted | $ | (34,117) | ​ | $ | (4,887) | ​ | $ | (34,154) | ​ | $ | (12,295)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Denominator: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Weighted-average shares outstanding- Basic | ​ | 15,114 | ​ | ​ | 15,601 | ​ | ​ | 15,268 | ​ | ​ | 15,666
Weighted-average shares outstanding- Diluted | ​ | 15,114 | ​ | ​ | 15,601 | ​ | ​ | 15,268 | ​ | ​ | 15,666
​ Redeemable Noncontrolling Interests In connection with certain acquisitions, the Company accounts for third-party non-controlling minority investments as redeemable noncontrolling interests, which consist of both redeemable common and, in some instances, preferred units, in its consolidated financial statements. The common units contain put options allowing the holder to sell at a future date, the common units to a subsidiary of the Company at the then fair market value. The common units participate in the earnings and losses of the subsidiaries and are allocated their applicable share of earnings and losses. After the allocation of earnings and losses, the Company estimates the fair value of the common units and records the common units at the higher of the book value of the common units or the estimated fair value. The preferred units contain put options allowing the holder to sell at a future date, the preferred units to a subsidiary of the Company at a fixed price equal to face value of the units plus unpaid dividends. The preferred units hold a distribution preference over common units and carry a fixed dividend rate. The put options for both the common and preferred units, if any, are nonrecourse to the Company. The put options for the Alloy common units are exercisable beginning in 2026 and the put options for the Alaska Communications common and preferred units are exercisable at the earlier of a future initial public offering of the subsidiary or January 1, 2028. For the three months ended September 30, 2024 and 2023, the Company allocated losses of $7.9 million and $1.6 million, respectively, to the redeemable common units representing their proportionate share of operating losses. For the nine month periods ended September 30, 2024 and 2023, the Company allocated losses of $14.1 million and $7.8 million, respectively, to the redeemable common units representing their proportionate share of operating losses. The Company then compared the book value of the common units to the fair value. As a result, the book value was decreased by $0.9 million and increased $7.5 million during the nine months ended September 30, 2024 and 2023, respectively. The following table provides a roll forward of the activity related to the Company’s redeemable noncontrolling interests for the nine months ended September 30, 2024 and 2023 (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | Redeemable Preferred Units | ​ | Redeemable Common Units | ​ | Total Redeemable Noncontrolling Interests
Balance, December 31, 2023 | $ | 60,094 | ​ | $ | 25,823 | ​ | $ | 85,917
Accrued preferred dividend | ​ | 4,154 | ​ | ​ | — | ​ | ​ | 4,154
Allocated net loss | ​ | — | ​ | ​ | (14,121) | ​ | ​ | (14,121)
Change in fair value | ​ | — | ​ | ​ | (867) | ​ | ​ | (867)
Balance, September 30, 2024 | $ | 64,248 | ​ | $ | 10,835 | ​ | $ | 75,083
​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | Redeemable Preferred Units | ​ | Redeemable Common Units | ​ | Total Redeemable Noncontrolling Interests
Balance, December 31, 2022 | $ | 55,152 | ​ | $ | 37,317 | ​ | $ | 92,469
Accrued preferred dividend | ​ | 3,609 | ​ | ​ | — | ​ | ​ | 3,609
Allocated net loss | ​ | — | ​ | ​ | (7,788) | ​ | ​ | (7,788)
Change in fair value | ​ | — | ​ | ​ | 7,497 | ​ | ​ | 7,497
Balance, September 30, 2023 | $ | 58,761 | ​ | $ | 37,026 | ​ | $ | 95,787
​

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 -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/260/tableOfContent Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-2 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-3 + Details
Name: | us-gaap_EarningsPerShareTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration