10-Q Filing

WIDEOPENWEST, INC. CIK: 1701051 Q1 2018

Filing Information

Form Type	10-Q
Accession Number	`0001104659-18-032364`
Period End Date	20180331
Filing Date	20180511
Fiscal Year	2018
Fiscal Period	Q1
XBRL Instance	wow-20180331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 80 Income Statement 33 Cash Flow Statement 54 Stockholders Equity 15

Balance Sheet 80 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable-trade, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$5.80M	USD	Point-in-time
Accounts receivable-trade, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$5.20M	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred stock, par value (in dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	100.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$86.50M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$36.50M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$30.80M	USD	Point-in-time
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	100.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$69.40M	USD	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Accounts receivable-trade, net of allowance for doubtful accounts of $5.2 and $5.8, respectively	`AccountsReceivableNetCurrent`	$70.30M	USD	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Accounts receivable-trade, net of allowance for doubtful accounts of $5.2 and $5.8, respectively	`AccountsReceivableNetCurrent`	$81.50M	USD	Point-in-time
Preferred stock, shares outstanding ( in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, shares outstanding ( in shares)	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Accounts receivable-other	`OtherReceivablesNetCurrent`	$2.10M	USD	Point-in-time
Accounts receivable-other	`OtherReceivablesNetCurrent`	$2.10M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$12.20M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$16.40M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	700.00M	shares	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	700.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$165.20M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$125.30M	USD	Point-in-time
Plant, property and equipment, net	`PropertyPlantAndEquipmentNet`	$933.30M	USD	Point-in-time
Plant, property and equipment, net	`PropertyPlantAndEquipmentNet`	$924.70M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	88.89M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	89.55M	shares	Point-in-time
Franchise operating rights	`IndefiniteLivedFranchiseRights`	$952.40M	USD	Point-in-time
Common stock, shares outstanding ( in shares)	`CommonStockSharesOutstanding`	88.43M	shares	Point-in-time
Franchise operating rights	`IndefiniteLivedFranchiseRights`	$809.20M	USD	Point-in-time
Common stock, shares outstanding ( in shares)	`CommonStockSharesOutstanding`	84.45M	shares	Point-in-time
Common shares held in treasury, (in shares)	`TreasuryStockCommonShares`	5.10M	shares	Point-in-time
Goodwill	`Goodwill`	$384.10M	USD	Point-in-time
Common shares held in treasury, (in shares)	`TreasuryStockCommonShares`	461,173.00	shares	Point-in-time
Goodwill	`Goodwill`	$270.90M	USD	Point-in-time
Intangible assets subject to amortization, net	`FiniteLivedIntangibleAssetsNet`	$5.50M	USD	Point-in-time
Intangible assets subject to amortization, net	`FiniteLivedIntangibleAssetsNet`	$4.90M	USD	Point-in-time
Other noncurrent assets	`OtherAssetsNoncurrent`	$9.70M	USD	Point-in-time
Other noncurrent assets	`OtherAssetsNoncurrent`	$21.40M	USD	Point-in-time
Total assets	`Assets`	$2.17B	USD	Point-in-time
Total assets	`Assets`	$2.44B	USD	Point-in-time
Accounts payable-trade	`AccountsPayableTradeCurrent`	$26.10M	USD	Point-in-time
Accounts payable-trade	`AccountsPayableTradeCurrent`	$29.80M	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$3.20M	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$3.60M	USD	Point-in-time
Accrued liabilities and other	`AccruedLiabilitiesAndOtherLiabilities`	$92.20M	USD	Point-in-time
Accrued liabilities and other	`AccruedLiabilitiesAndOtherLiabilities`	$94.50M	USD	Point-in-time
Current portion of debt and capital lease obligations	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$24.00M	USD	Point-in-time
Current portion of debt and capital lease obligations	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$24.00M	USD	Point-in-time
Current portion of unearned service revenue	`DeferredRevenueCurrent`	$43.20M	USD	Point-in-time
Current portion of unearned service revenue	`DeferredRevenueCurrent`	$46.20M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$195.40M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$191.40M	USD	Point-in-time
Long-term debt and capital lease obligations-less current portion and debt issuance costs	`LongTermDebtAndCapitalLeaseObligations`	$2.22B	USD	Point-in-time
Long-term debt and capital lease obligations-less current portion and debt issuance costs	`LongTermDebtAndCapitalLeaseObligations`	$2.23B	USD	Point-in-time
Deferred income taxes, net	`DeferredTaxLiabilitiesNoncurrent`	$220.40M	USD	Point-in-time
Deferred income taxes, net	`DeferredTaxLiabilitiesNoncurrent`	$178.40M	USD	Point-in-time
Other noncurrent liabilities	`OtherLiabilitiesNoncurrent`	$7.00M	USD	Point-in-time
Other noncurrent liabilities	`OtherLiabilitiesNoncurrent`	$7.80M	USD	Point-in-time
Total liabilities	`Liabilities`	$2.65B	USD	Point-in-time
Total liabilities	`Liabilities`	$2.60B	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, $0.01 par value, 100,000,000 shares authorized; 0 shares issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.01 par value, 100,000,000 shares authorized; 0 shares issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.01 par value, 700,000,000 shares authorized; 89,545,907 and 88,887,915 issued as of March 31, 2018 and December 31,2017, respectively; 84,448,065 and 88,426,742 outstanding as of March 31, 2018 and December 31, 2017, respectively	`CommonStockValue`	$900.00K	USD	Point-in-time
Common stock, $0.01 par value, 700,000,000 shares authorized; 89,545,907 and 88,887,915 issued as of March 31, 2018 and December 31,2017, respectively; 84,448,065 and 88,426,742 outstanding as of March 31, 2018 and December 31, 2017, respectively	`CommonStockValue`	$900.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$299.90M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$304.00M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-694.00M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-500.40M	USD	Point-in-time
Treasury stock at cost, 5,097,842 and 461,173 shares as of March 31, 2018 and December 31, 2017, respectively	`TreasuryStockCommonValue`	$4.80M	USD	Point-in-time
Treasury stock at cost, 5,097,842 and 461,173 shares as of March 31, 2018 and December 31, 2017, respectively	`TreasuryStockCommonValue`	$50.00M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-439.10M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-204.40M	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$2.44B	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$2.17B	USD	Point-in-time

Income Statement 33 line items

Line Item	Tag	Value	Unit	Period
Revenue	`Revenues`	$285.50M	USD	1 Quarter
Revenue	`Revenues`	$300.00M	USD	1 Quarter
Operating (excluding depreciation and amortization)	`CostOfServicesExcludingDepreciationDepletionAndAmortization`	$157.90M	USD	1 Quarter
Operating (excluding depreciation and amortization)	`CostOfServicesExcludingDepreciationDepletionAndAmortization`	$159.80M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$39.70M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$30.30M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$50.30M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$46.30M	USD	1 Quarter
Impairment losses on intangibles and goodwill	`GoodwillAndIntangibleAssetImpairment`	$256.40M	USD	1 Quarter
Management fee to related party	`CostsAndExpensesRelatedParty`	$500.00K	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$500.30M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$240.90M	USD	1 Quarter
(Loss) income from operations	`OperatingIncomeLoss`	$59.10M	USD	1 Quarter
(Loss) income from operations	`OperatingIncomeLoss`	$-214.80M	USD	1 Quarter
Interest expense	`InterestExpense`	$29.10M	USD	1 Quarter
Interest expense	`InterestExpense`	$45.70M	USD	1 Quarter
Loss on early extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$-5.00M	USD	1 Quarter
Gain on sale of system dispositions	`GainsLossesOnSalesOfAssets`	$38.70M	USD	1 Quarter
Other income, net	`OtherNonoperatingIncomeExpense`	$1.40M	USD	1 Quarter
(Loss) income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$48.50M	USD	1 Quarter
(Loss) income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-243.90M	USD	1 Quarter
Income tax benefit	`IncomeTaxExpenseBenefit`	$-41.20M	USD	1 Quarter
Income tax benefit	`IncomeTaxExpenseBenefit`	$-23.90M	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$-202.70M	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$72.40M	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$1.09	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$-2.40	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$-2.40	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$1.09	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	66.53M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	84.48M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	84.48M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	66.60M	shares	1 Quarter

Cash Flow Statement 54 line items

Line Item	Tag	Value	Unit	Period
Net (loss) income	`ProfitLoss`	$72.40M	USD	1 Quarter
Net (loss) income	`ProfitLoss`	$-202.70M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$50.30M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$46.30M	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$4.20M	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$5.20M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$-42.20M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$-32.60M	USD	1 Quarter
Gain on sale of system dispositions	`GainsLossesOnSalesOfAssets`	$38.70M	USD	1 Quarter
Amortization of debt issuance costs, premium and discount, net	`AmortizationOfFinancingCostsAndDiscounts`	$1.20M	USD	1 Quarter
Amortization of debt issuance costs, premium and discount, net	`AmortizationOfFinancingCostsAndDiscounts`	$1.20M	USD	1 Quarter
Non-cash compensation expense	`ShareBasedCompensation`	$4.30M	USD	1 Quarter
Non-cash compensation expense	`ShareBasedCompensation`	$500.00K	USD	1 Quarter
Loss on early extinguishment of debt	`NoncashPortionOfGainsLossesOnExtinguishmentOfDebt`	$-200.00K	USD	1 Quarter
Impairment losses on intangibles and goodwill	`GoodwillAndIntangibleAssetImpairment`	$256.40M	USD	1 Quarter
Other non-cash items	`OtherNoncashIncomeExpense`	$-300.00K	USD	1 Quarter
Receivables and other operating assets	`IncreaseDecreaseInOperatingAssets`	$-1.40M	USD	1 Quarter
Receivables and other operating assets	`IncreaseDecreaseInOperatingAssets`	$-700.00K	USD	1 Quarter
Payables and accruals	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$4.90M	USD	1 Quarter
Payables and accruals	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-27.70M	USD	1 Quarter
Net cash flows provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$74.80M	USD	1 Quarter
Net cash flows provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$30.80M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$56.50M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$79.20M	USD	1 Quarter
Proceeds from sale of assets	`ProceedsFromDivestitureOfBusinesses`	$213.00M	USD	1 Quarter
Other investing activities	`PaymentsForProceedsFromOtherInvestingActivities`	$-2.00M	USD	1 Quarter
Other investing activities	`PaymentsForProceedsFromOtherInvestingActivities`	$-200.00K	USD	1 Quarter
Net cash flows (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$135.80M	USD	1 Quarter
Net cash flows (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-56.30M	USD	1 Quarter
Payments on debt and capital lease obligations	`RepaymentsOfLongTermDebtAndCapitalSecurities`	$110.80M	USD	1 Quarter
Payments on debt and capital lease obligations	`RepaymentsOfLongTermDebtAndCapitalSecurities`	$6.00M	USD	1 Quarter
Contribution from former Parent	`ProceedsFromContributionsFromParent`	$8.80M	USD	1 Quarter
Repurchase of old management units	`PaymentsForRepurchaseOfManagementUnitsNet`	$8.80M	USD	1 Quarter
Distribution to former Parent	`PaymentsOfDividendsCommonStock`	$100.00K	USD	1 Quarter
Purchase of shares	`PaymentsForRepurchaseOfCommonStock`	$45.20M	USD	1 Quarter
Other	`ProceedsFromPaymentsForOtherFinancingActivities`	$-200.00K	USD	1 Quarter
Net cash flows used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-51.40M	USD	1 Quarter
Net cash flows used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-110.90M	USD	1 Quarter
(Decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$55.70M	USD	1 Quarter
(Decrease) increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-32.90M	USD	1 Quarter
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$86.50M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$36.50M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$30.80M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$69.40M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$86.50M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$36.50M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$30.80M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$69.40M	USD	Point-in-time
Cash paid during the periods for interest	`InterestPaidNet`	$65.90M	USD	1 Quarter
Cash paid during the periods for interest	`InterestPaidNet`	$28.40M	USD	1 Quarter
Cash paid during the periods for income taxes	`IncomeTaxesPaidNet`	$1.20M	USD	1 Quarter
Cash paid during the periods for income taxes	`IncomeTaxesPaidNet`	$200.00K	USD	1 Quarter
Capital expenditure accounts payable and accruals	`ChangesInNoncashCapitalExpenditureAccruals`	$10.90M	USD	1 Quarter
Capital expenditure accounts payable and accruals	`ChangesInNoncashCapitalExpenditureAccruals`	$8.90M	USD	1 Quarter

Stockholders Equity 15 line items

Line Item	Tag	Value	Unit	Period
Balances at beginning of the year (in shares)	`CommonStockSharesOutstanding`	88.43M	shares	Point-in-time
Balances at beginning of the year (in shares)	`CommonStockSharesOutstanding`	84.45M	shares	Point-in-time
Balances at beginning of the year	`StockholdersEquity`	$-439.10M	USD	Point-in-time
Balances at beginning of the year	`StockholdersEquity`	$-204.40M	USD	Point-in-time
Impact of change in accounting policy	`CumulativeEffectOnRetainedEarningsTax1`	$-9.10M	USD	1 Quarter
Stock-based compensation	`StockIssuedDuringPeriodValueShareBasedCompensation`	$4.30M	USD	1 Quarter
Purchase of shares (in shares)	`TreasuryStockSharesAcquired`	4.64M	shares	1 Quarter
Purchase of shares	`TreasuryStockValueAcquiredCostMethod`	$45.20M	USD	1 Quarter
Other	`StockholdersEquityOther`	$200.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-202.70M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$72.40M	USD	1 Quarter
Balances at end of the year (in shares)	`CommonStockSharesOutstanding`	88.43M	shares	Point-in-time
Balances at end of the year (in shares)	`CommonStockSharesOutstanding`	84.45M	shares	Point-in-time
Balances at end of the year	`StockholdersEquity`	$-439.10M	USD	Point-in-time
Balances at end of the year	`StockholdersEquity`	$-204.40M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.