10-Q Filing

WIDEOPENWEST, INC. CIK: 1701051 Q1 2023

Filing Information

Form Type	10-Q
Accession Number	`0001558370-23-007971`
Period End Date	20230331
Filing Date	20230504
Fiscal Year	2023
Fiscal Period	Q1
XBRL Instance	wow-20230331x10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 86 Income Statement 31 Cash Flow Statement 52 Stockholders Equity 18

Balance Sheet 86 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable-trade, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$4.30M	USD	Point-in-time
Accounts receivable-trade, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$4.30M	USD	Point-in-time
Accounts receivable-trade, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$2.80M	USD	Point-in-time
Accounts receivable-trade, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$4.80M	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
Preferred stock, shares authorized (in shares)	`PreferredStockSharesAuthorized`	100.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$31.00M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$21.20M	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 $4.8 and $4.3, respectively	`AccountsReceivableNetCurrent`	$38.30M	USD	Point-in-time
Accounts receivable-trade, net of allowance for doubtful accounts of $4.8 and $4.3, respectively	`AccountsReceivableNetCurrent`	$39.90M	USD	Point-in-time
Preferred stock, shares issued (in shares)	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Accounts receivable-other, net	`OtherReceivablesNetCurrent`	$9.80M	USD	Point-in-time
Accounts receivable-other, net	`OtherReceivablesNetCurrent`	$12.20M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	700.00M	shares	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$37.80M	USD	Point-in-time
Prepaid expenses and other	`PrepaidExpenseAndOtherAssetsCurrent`	$43.40M	USD	Point-in-time
Common stock, shares authorized (in shares)	`CommonStockSharesAuthorized`	700.00M	shares	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	98.61M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$120.90M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$112.70M	USD	Point-in-time
Common stock, shares issued (in shares)	`CommonStockSharesIssued`	96.83M	shares	Point-in-time
Common stock, shares outstanding ( in shares)	`CommonStockSharesOutstanding`	85.56M	shares	Point-in-time
Common stock, shares outstanding ( in shares)	`CommonStockSharesOutstanding`	86.42M	shares	Point-in-time
Right-of-use lease assets-operating	`OperatingLeaseRightOfUseAsset`	$14.50M	USD	Point-in-time
Right-of-use lease assets-operating	`OperatingLeaseRightOfUseAsset`	$15.00M	USD	Point-in-time
Common shares held in treasury, (in shares)	`TreasuryStockCommonShares`	10.41M	shares	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$742.70M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$725.80M	USD	Point-in-time
Common shares held in treasury, (in shares)	`TreasuryStockCommonShares`	13.05M	shares	Point-in-time
Franchise operating rights	`IndefiniteLivedFranchiseRights`	$585.10M	USD	Point-in-time
Franchise operating rights	`IndefiniteLivedFranchiseRights`	$585.10M	USD	Point-in-time
Goodwill	`Goodwill`	$225.10M	USD	Point-in-time
Goodwill	`Goodwill`	$225.10M	USD	Point-in-time
Intangible assets subject to amortization, net	`FiniteLivedIntangibleAssetsNet`	$1.30M	USD	Point-in-time
Intangible assets subject to amortization, net	`FiniteLivedIntangibleAssetsNet`	$1.30M	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$44.20M	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$45.40M	USD	Point-in-time
Total assets	`Assets`	$1.72B	USD	Point-in-time
Total assets	`Assets`	$1.73B	USD	Point-in-time
Accounts payable-trade	`AccountsPayableTradeCurrent`	$46.10M	USD	Point-in-time
Accounts payable-trade	`AccountsPayableTradeCurrent`	$47.20M	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$200.00K	USD	Point-in-time
Accrued interest	`InterestPayableCurrent`	$100.00K	USD	Point-in-time
Current portion of long-term lease liability-operating	`OperatingLeaseLiabilityCurrent`	$4.90M	USD	Point-in-time
Current portion of long-term lease liability-operating	`OperatingLeaseLiabilityCurrent`	$4.90M	USD	Point-in-time
Accrued liabilities and other	`AccruedLiabilitiesAndOtherLiabilities`	$68.70M	USD	Point-in-time
Accrued liabilities and other	`AccruedLiabilitiesAndOtherLiabilities`	$93.30M	USD	Point-in-time
Current portion of long-term debt and finance lease obligations	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$17.70M	USD	Point-in-time
Current portion of long-term debt and finance lease obligations	`LongTermDebtAndCapitalLeaseObligationsCurrent`	$17.10M	USD	Point-in-time
Current portion of unearned service revenue	`UnearnedServiceRevenueCurrent`	$27.70M	USD	Point-in-time
Current portion of unearned service revenue	`UnearnedServiceRevenueCurrent`	$27.20M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$190.40M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$164.70M	USD	Point-in-time
Long-term debt and finance lease obligations, net of debt issuance costs -less current portion	`LongTermDebtAndCapitalLeaseObligations`	$725.00M	USD	Point-in-time
Long-term debt and finance lease obligations, net of debt issuance costs -less current portion	`LongTermDebtAndCapitalLeaseObligations`	$774.10M	USD	Point-in-time
Long-term lease liability-operating	`OperatingLeaseLiabilityNoncurrent`	$11.10M	USD	Point-in-time
Long-term lease liability-operating	`OperatingLeaseLiabilityNoncurrent`	$11.60M	USD	Point-in-time
Deferred income taxes, net	`DeferredIncomeTaxLiabilitiesNet`	$225.30M	USD	Point-in-time
Deferred income taxes, net	`DeferredIncomeTaxLiabilitiesNet`	$210.80M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$15.70M	USD	Point-in-time
Other non-current liabilities	`OtherLiabilitiesNoncurrent`	$26.10M	USD	Point-in-time
Total liabilities	`Liabilities`	$1.14B	USD	Point-in-time
Total liabilities	`Liabilities`	$1.21B	USD	Point-in-time
Commitments and contingencies (Note 12)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 12)	`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; 98,614,277 and 96,830,312 issued as of March 31, 2023 and December 31, 2022, respectively; 85,559,520 and 86,417,733 outstanding as of March 31, 2023 and December 31, 2022, respectively	`CommonStockValue`	$1.00M	USD	Point-in-time
Common stock, $0.01 par value, 700,000,000 shares authorized; 98,614,277 and 96,830,312 issued as of March 31, 2023 and December 31, 2022, respectively; 85,559,520 and 86,417,733 outstanding as of March 31, 2023 and December 31, 2022, respectively	`CommonStockValue`	$1.00M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$374.70M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$380.30M	USD	Point-in-time
Accumulated income	`RetainedEarningsAccumulatedDeficit`	$308.00M	USD	Point-in-time
Accumulated income	`RetainedEarningsAccumulatedDeficit`	$270.00M	USD	Point-in-time
Treasury stock at cost, 13,054,757 and 10,412,579 shares as of March 31, 2023 and December 31, 2022, respectively	`TreasuryStockCommonValue`	$137.00M	USD	Point-in-time
Treasury stock at cost, 13,054,757 and 10,412,579 shares as of March 31, 2023 and December 31, 2022, respectively	`TreasuryStockCommonValue`	$108.60M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$576.80M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$575.10M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$514.30M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$570.80M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$1.72B	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$1.73B	USD	Point-in-time

Income Statement 31 line items

Line Item	Tag	Value	Unit	Period
Revenue	`Revenues`	$174.60M	USD	1 Quarter
Revenue	`Revenues`	$172.20M	USD	1 Quarter
Operating (excluding depreciation and amortization)	`CostOfGoodsAndServiceExcludingDepreciationDepletionAndAmortization`	$87.30M	USD	1 Quarter
Operating (excluding depreciation and amortization)	`CostOfGoodsAndServiceExcludingDepreciationDepletionAndAmortization`	$78.10M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$38.30M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$85.50M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$44.40M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$45.50M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$209.10M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$170.00M	USD	1 Quarter
(Loss) income from operations	`OperatingIncomeLoss`	$4.60M	USD	1 Quarter
(Loss) income from operations	`OperatingIncomeLoss`	$-36.90M	USD	1 Quarter
Interest expense	`InterestExpense`	$14.90M	USD	1 Quarter
Interest expense	`InterestExpense`	$7.40M	USD	1 Quarter
Loss on sale of assets, net	`GainLossOnSaleOfNonoperatingAssets`	$-400.00K	USD	1 Quarter
Other income, net	`OtherNonoperatingIncomeExpense`	$8.70M	USD	1 Quarter
Other income, net	`OtherNonoperatingIncomeExpense`	$1.20M	USD	1 Quarter
(Loss) income from operations before provision for income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-50.60M	USD	1 Quarter
(Loss) income from operations before provision for income tax	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$5.50M	USD	1 Quarter
Income tax benefit	`IncomeTaxExpenseBenefit`	$-12.60M	USD	1 Quarter
Income tax benefit	`IncomeTaxExpenseBenefit`	$-200.00K	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$-38.00M	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$5.70M	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$0.07	USD	1 Quarter
Basic (in dollars per share)	`EarningsPerShareBasic`	$-0.46	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$-0.46	USD	1 Quarter
Diluted (in dollars per share)	`EarningsPerShareDiluted`	$0.07	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	83.29M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	83.03M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	83.03M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	86.42M	shares	1 Quarter

Cash Flow Statement 52 line items

Line Item	Tag	Value	Unit	Period
Net (loss) income	`ProfitLoss`	$5.70M	USD	1 Quarter
Net (loss) income	`ProfitLoss`	$-38.00M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortizationIncludingDiscontinuedOperations`	$44.40M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortizationIncludingDiscontinuedOperations`	$45.50M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$-2.00M	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxesAndTaxCredits`	$-14.50M	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccountsIncludingDiscontinuedOperations`	$2.60M	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccountsIncludingDiscontinuedOperations`	$400.00K	USD	1 Quarter
Loss on sale of assets, net	`GainLossOnDispositionOfOperatingAssets`	$-400.00K	USD	1 Quarter
Amortization of debt issuance costs and discount	`AmortizationOfFinancingCostsAndDiscounts`	$400.00K	USD	1 Quarter
Amortization of debt issuance costs and discount	`AmortizationOfFinancingCostsAndDiscounts`	$400.00K	USD	1 Quarter
Non-cash compensation	`ShareBasedCompensation`	$5.70M	USD	1 Quarter
Non-cash compensation	`ShareBasedCompensation`	$5.40M	USD	1 Quarter
Other non-cash items	`OtherNoncashIncomeExpense`	$100.00K	USD	1 Quarter
Other non-cash items	`OtherNoncashIncomeExpense`	$100.00K	USD	1 Quarter
Receivables and other operating assets	`IncreaseDecreaseInOperatingAssets`	$5.40M	USD	1 Quarter
Receivables and other operating assets	`IncreaseDecreaseInOperatingAssets`	$5.70M	USD	1 Quarter
Payables and accruals	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$36.70M	USD	1 Quarter
Payables and accruals	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$200.00K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$49.40M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$32.60M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$42.10M	USD	1 Quarter
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$60.20M	USD	1 Quarter
Other investing activities	`PaymentsForProceedsFromOtherInvestingActivities`	$-500.00K	USD	1 Quarter
Other investing activities	`PaymentsForProceedsFromOtherInvestingActivities`	$-100.00K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-41.60M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-60.10M	USD	1 Quarter
Proceeds from issuance of long-term debt, net	`ProceedsFromIssuanceOfDebt`	$51.00M	USD	1 Quarter
Payments on long-term debt and finance lease obligations	`RepaymentsOfLongTermDebtAndCapitalSecurities`	$4.90M	USD	1 Quarter
Payments on long-term debt and finance lease obligations	`RepaymentsOfLongTermDebtAndCapitalSecurities`	$5.00M	USD	1 Quarter
Purchase of shares	`PaymentsForRepurchaseOfCommonStock`	$28.40M	USD	1 Quarter
Purchase of shares	`PaymentsForRepurchaseOfCommonStock`	$5.30M	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-10.30M	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$17.70M	USD	1 Quarter
Decrease in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-2.50M	USD	1 Quarter
Decrease in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-9.80M	USD	1 Quarter
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$190.70M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$31.00M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$193.20M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$21.20M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$190.70M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$31.00M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$193.20M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$21.20M	USD	Point-in-time
Cash paid during the periods for interest	`InterestPaidNet`	$14.50M	USD	1 Quarter
Cash paid during the periods for interest	`InterestPaidNet`	$2.80M	USD	1 Quarter
Cash received during the periods for refunds of income taxes	`ProceedsFromIncomeTaxRefunds`	$4.30M	USD	1 Quarter
Operating lease additions	`NonCashOperatingLeaseAdditions`	$800.00K	USD	1 Quarter
Finance lease additions	`NonCashFinanceLeaseAdditions`	$3.50M	USD	1 Quarter
Finance lease additions	`NonCashFinanceLeaseAdditions`	$1.90M	USD	1 Quarter
Capital expenditures within accounts payable and accruals	`ChangesInNoncashCapitalExpenditureAccruals`	$20.30M	USD	1 Quarter
Capital expenditures within accounts payable and accruals	`ChangesInNoncashCapitalExpenditureAccruals`	$32.20M	USD	1 Quarter

Stockholders Equity 18 line items

Line Item	Tag	Value	Unit	Period
Balances at beginning of period	`StockholdersEquity`	$576.80M	USD	Point-in-time
Balances at beginning of period	`StockholdersEquity`	$575.10M	USD	Point-in-time
Balances at beginning of period	`StockholdersEquity`	$514.30M	USD	Point-in-time
Balances at beginning of period	`StockholdersEquity`	$570.80M	USD	Point-in-time
Balances at beginning of period (in shares)	`CommonStockSharesOutstanding`	85.56M	shares	Point-in-time
Balances at beginning of period (in shares)	`CommonStockSharesOutstanding`	86.42M	shares	Point-in-time
Stock-based compensation	`StockIssuedDuringPeriodValueShareBasedCompensation`	$5.60M	USD	1 Quarter
Stock-based compensation	`StockIssuedDuringPeriodValueShareBasedCompensation`	$5.60M	USD	1 Quarter
Purchase of shares (in dollars)	`TreasuryStockValueAcquiredCostMethodAndShareBasedPaymentArrangementDecreaseForTaxWithholdingObligation`	$28.40M	USD	1 Quarter
Purchase of shares (in dollars)	`TreasuryStockValueAcquiredCostMethodAndShareBasedPaymentArrangementDecreaseForTaxWithholdingObligation`	$5.30M	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$-38.00M	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$5.70M	USD	1 Quarter
Balances at end of period	`StockholdersEquity`	$576.80M	USD	Point-in-time
Balances at end of period	`StockholdersEquity`	$575.10M	USD	Point-in-time
Balances at end of period	`StockholdersEquity`	$514.30M	USD	Point-in-time
Balances at end of period	`StockholdersEquity`	$570.80M	USD	Point-in-time
Balances at end of period (in shares)	`CommonStockSharesOutstanding`	85.56M	shares	Point-in-time
Balances at end of period (in shares)	`CommonStockSharesOutstanding`	86.42M	shares	Point-in-time

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