Consolidated Communications (CNSL) 10-K5 Mar 242023 FY Annual reportFinancial data

Company Profile

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
Document and Entity Information - USD ($)	Dec. 31, 2023	Feb. 27, 2024	Jun. 30, 2023
Document and Entity Information
Document Type	10-K
Document Annual Report	true
Document Transition Report	false
Document Period End Date	Dec. 31, 2023
Entity File Number	000-51446
Entity Registrant Name	CONSOLIDATED COMMUNICATIONS HOLDINGS, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	02-0636095
Entity Central Index Key	0001304421
Entity Address, Address Line One	2116 South 17th Street
Entity Address, City or Town	Mattoon
Entity Address, State or Province	IL
Entity Address, Postal Zip Code	61938-5973
City Area Code	217
Local Phone Number	235-3311
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Title of 12(b) Security	Common Stock - $0.01 par value
Trading Symbol	CNSL
Security Exchange Name	NASDAQ
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Amendment Flag	false
Entity Public Float			$ 286,167,707
Entity Common Stock, Shares Outstanding		116,003,311
Entity Small Business	false
Entity Emerging Growth Company	false
Document Financial Statement Error Correction [Flag]	false
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Auditor Name	Ernst & Young LLP
Auditor Firm ID	42
Auditor Location	St. Louis, Missouri

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
CONSOLIDATED STATEMENTS OF OPERATIONS
Net revenues	$ 1,110,120	$ 1,191,263	$ 1,282,233
Operating expense:
Cost of services and products (exclusive of depreciation and amortization)	511,866	546,661	569,629
Selling, general and administrative expenses	340,252	301,667	271,125
Transaction costs	13,783
Loss on impairment of assets held for sale	77,755	131,698	5,704
Loss on disposal of assets	9,480	4,233
Depreciation and amortization	315,162	300,166	300,597
Income (loss) from operations	(158,178)	(93,162)	135,178
Other income (expense):
Interest expense, net of interest income	(151,964)	(124,978)	(175,195)
Loss on extinguishment of debt			(17,101)
Change in fair value of contingent payment rights			(86,476)
Other, net	8,477	13,378	1,335
Loss from continuing operations before income taxes	(301,665)	(204,762)	(142,259)
Income tax benefit	(51,607)	(27,058)	(3,132)
Loss from continuing operations	(250,058)	(177,704)	(139,127)
Discontinued operations:
Income from discontinued operations		23,467	41,845
Gain on sale of discontinued operations		389,885
Income tax expense		94,999	9,411
Income from discontinued operations		318,353	32,434
Net income (loss)	(250,058)	140,649	(106,693)
Less: dividends on Series A preferred stock	43,910	40,104	2,677
Less: net income attributable to noncontrolling interest	456	564	392
Net income (loss) attributable to common shareholders	$ (294,424)	$ 99,981	$ (109,762)
Net income (loss) per common share - basic and diluted
Loss from continuing operations - Basic	$ (2.60)	$ (1.90)	$ (1.63)
Loss from continuing operations - Diluted	(2.60)	(1.90)	(1.63)
Income from discontinued operations - Basic		2.77	0.37
Income from discontinued operations - Diluted		2.77	0.37
Net income (loss) per basic common shares attributable to common shareholders	(2.60)	0.87	(1.26)
Net income (loss) per diluted common shares attributable to common shareholders	$ (2.60)	$ 0.87	$ (1.26)

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
Net income (loss)	$ (250,058)	$ 140,649	$ (106,693)
Pension and post-retirement obligations:
Change in net actuarial loss and prior service cost, net of tax of $(5,221), $16,744 and $11,903	(14,664)	47,123	33,344
Amortization of actuarial loss (gain) and prior service cost (credit) to earnings, net of tax of $108, $(269) and $1,950	318	(762)	5,444
Derivative instruments designated as cash flow hedges:
Change in fair value of derivatives, net of tax of $164, $3,847 and $306	462	10,879	868
Reclassification of realized loss (gain) to earnings, net of tax of $(2,619), $607 and $3,773	(7,378)	1,721	10,191
Comprehensive income (loss)	(271,320)	199,610	(56,846)
Less: comprehensive income attributable to noncontrolling interest	456	564	392
Total comprehensive income (loss) attributable to common shareholders	$ (271,776)	$ 199,046	$ (57,238)

CONSOLIDATED STATEMENTS OF CO_2

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
Change in net actuarial loss and prior service cost, tax	$ (5,221)	$ 16,744	$ 11,903
Amortization of actuarial losses and prior service cost to earnings, tax	108	(269)	1,950
Change in fair value of derivatives, tax	164	3,847	306
Reclassification of realized loss to earnings, tax	$ (2,619)	$ 607	$ 3,773

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 4,765	$ 325,852
Short-term investments		87,951
Accounts receivable, net of allowance for credit losses	121,194	119,675
Income tax receivable	2,880	1,670
Prepaid expenses and other current assets	56,843	62,996
Assets held for sale	70,473
Total current assets	256,155	598,144
Property, plant and equipment, net	2,449,009	2,234,122
Investments	8,887	10,297
Goodwill	814,624	929,570
Customer relationships, net	18,616	43,089
Other intangible assets	10,557	10,557
Other assets	70,578	61,315
Total assets	3,628,426	3,887,094
Current liabilities:
Accounts payable	60,073	33,096
Advance billings and customer deposits	44,478	46,664
Accrued compensation	58,151	60,903
Accrued interest	18,694	18,201
Accrued expense	114,022	95,206
Current portion of long-term debt and finance lease obligations	18,425	12,834
Liabilities held for sale	3,402
Total current liabilities	317,245	266,904
Long-term debt and finance lease obligations	2,134,916	2,129,462
Deferred income taxes	210,648	274,309
Pension and other post-retirement obligations	137,616	123,644
Other long-term liabilities	48,637	47,326
Total liabilities	2,849,062	2,841,645
Commitments and contingencies (Note 15)
Series A preferred stock, par value $0.01 per share; 10,000,000 shares authorized, 434,266 and 456,343 shares outstanding as of December 31, 2023 and December 31, 2022, respectively; liquidation preference of $520,957 and $477,047 as of December 31, 2023 and December 31, 2022, respectively	372,590	328,680
Shareholders' equity:
Common stock, par value $0.01 per share; 150,000,000 shares authorized, 116,172,568 and 115,167,193 shares outstanding as of December 31, 2023 and December 31, 2022, respectively	1,162	1,152
Additional paid-in capital	681,757	720,442
Retained earnings (accumulated deficit)	(262,380)	(11,866)
Accumulated other comprehensive loss, net	(21,872)	(610)
Noncontrolling interest	8,107	7,651
Total shareholders' equity	406,774	716,769
Total liabilities, mezzanine equity and shareholders' equity	$ 3,628,426	$ 3,887,094

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
CONSOLIDATED BALANCE SHEETS
Temporary equity, par value (in dollars per share)	$ 0.01	$ 0.01
Temporary equity, shares authorized	10,000,000	10,000,000
Temporary equity, shares outstanding	434,266	456,343
Temporary equity, liquidation preference	$ 520,957	$ 477,047
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	150,000,000	150,000,000
Common stock, shares outstanding	116,172,568	115,167,193

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN MEZZANINE EQUITY AND SHAREHOLDERS' EQUITY - USD ($) $ in Thousands	Common Stock	Preferred Stock	Additional Paid-in Capital	Retained Earnings (Deficit)	Accumulated Other Comprehensive Loss, net	Non-controlling Interest	Total
Increase (Decrease) in Temporary Equity [Roll Forward]
Series A preferred stock issued		$ 285,899
Series A preferred stock issued (in shares)		434,000
Dividends on Series A preferred stock accrued		$ 2,677
Balance at Dec. 31, 2021		$ 288,576
Balance (in shares) at Dec. 31, 2021		434,000
Balance at Dec. 31, 2020	$ 792		$ 525,673	$ (34,514)	$ (109,418)	$ 6,695	$ 389,228
Balance (in shares) at Dec. 31, 2020	79,228,000
Increase (Decrease) in Stockholders' Equity
Shares issued under employee plan, net of forfeitures	$ 17		(17)
Shares issued under employee plan, net of forfeitures (in shares)	1,652,000
Shares issued to Searchlight	$ 330		209,387				209,717
Shares issued to Searchlight (in shares)	32,986,000
Dividends on Series A preferred stock accrued			(2,677)				(2,677)
Non-cash, share-based compensation			10,097				10,097
Purchase and retirement of common stock	$ (2)		(1,717)				(1,719)
Purchase and retirement of common stock (in shares)	(219,000)
Other comprehensive income (loss)					49,847		49,847
Net income (loss)				(107,085)		392	(106,693)
Balance at Dec. 31, 2021	$ 1,137		740,746	(141,599)	(59,571)	7,087	$ 547,800
Balance (in shares) at Dec. 31, 2021	113,647,000
Increase (Decrease) in Temporary Equity [Roll Forward]
Series A preferred stock issued (in shares)		22,000
Dividends on Series A preferred stock accrued		$ 40,104
Balance at Dec. 31, 2022		$ 328,680
Balance (in shares) at Dec. 31, 2022		456,000					456,343
Increase (Decrease) in Stockholders' Equity
Shares issued under employee plan, net of forfeitures	$ 17		(17)
Shares issued under employee plan, net of forfeitures (in shares)	1,809,000
Dividends on Series A preferred stock accrued			(29,752)	(10,352)			$ (40,104)
Non-cash, share-based compensation			10,755				10,755
Purchase and retirement of common stock	$ (2)		(1,290)				(1,292)
Purchase and retirement of common stock (in shares)	(289,000)
Other comprehensive income (loss)					58,961		58,961
Net income (loss)				140,085		564	140,649
Balance at Dec. 31, 2022	$ 1,152		720,442	(11,866)	(610)	7,651	$ 716,769
Balance (in shares) at Dec. 31, 2022	115,167,000
Increase (Decrease) in Temporary Equity [Roll Forward]
Series A preferred stock issued (in shares)		21,000
Accrued Series A preferred stock liquidation preference as paid-in-kind dividends		$ 43,910
Other, shares		(43,000)
Balance at Dec. 31, 2023		$ 372,590
Balance (in shares) at Dec. 31, 2023		434,000					434,266
Increase (Decrease) in Stockholders' Equity
Shares issued under employee plan, net of forfeitures	$ 16		(16)
Shares issued under employee plan, net of forfeitures (in shares)	1,570,000
Accrued Series A preferred stock liquidation preference as paid-in-kind dividends			43,910				$ 43,910
Non-cash, share-based compensation			7,613				7,613
Purchase and retirement of common stock	$ (6)		(2,372)				(2,378)
Purchase and retirement of common stock (in shares)	(565,000)
Other comprehensive income (loss)					(21,262)		(21,262)
Net income (loss)				(250,514)		456	(250,058)
Balance at Dec. 31, 2023	$ 1,162		$ 681,757	$ (262,380)	$ (21,872)	$ 8,107	$ 406,774
Balance (in shares) at Dec. 31, 2023	116,172,000

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Cash flows from operating activities:
Net income (loss)	$ (250,058)	$ 140,649	$ (106,693)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	315,162	300,166	300,597
Deferred income tax expense (benefit)	(56,092)	58,894	5,504
Cash distributions from wireless partnerships in excess of current earnings		5,697	1,195
Pension and post-retirement contributions in excess of expense	(5,827)	(29,205)	(33,208)
Stock-based compensation expense	7,613	10,755	10,097
Amortization of deferred financing costs and discounts	8,051	7,331	15,622
Noncash interest expense on convertible security interest			30,927
Loss on extinguishment of debt			17,101
Loss on change in fair value of contingent payment rights			86,476
Loss on impairment of assets held for sale	77,755	131,698	5,704
Gain on sale of partnership interests		(389,885)
Loss on disposal of assets	9,480	4,233
Other, net	(1,673)	(367)	3,226
Changes in operating assets and liabilities:
Accounts receivable, net	(9,503)	5,167	4,103
Income tax receivable	(1,210)	(536)	(62)
Prepaid expenses and other assets	(10,092)	(7,699)	(12,863)
Accounts payable	23,261	(909)	(189)
Accrued expenses and other liabilities	7,720	(12,279)	(8,670)
Net cash provided by operating activities	114,587	223,710	318,867
Cash flows from investing activities:
Purchases of property, plant and equipment, net	(515,035)	(619,981)	(480,346)
Purchase of investments		(302,907)	(175,764)
Proceeds from sale and maturity of investments	91,623	327,419	66,198
Proceeds from sale of assets	5,954	22,918	3,469
Proceeds from business dispositions		105,823
Proceeds from sale of partnership interests		482,966
Net cash provided by (used in) investing activities	(417,458)	16,238	(586,443)
Cash flows from financing activities:
Proceeds from bond offering			400,000
Proceeds from issuance of long-term debt			150,000
Proceeds from issuance of common stock			75,000
Payment of finance lease obligations	(15,338)	(9,836)	(6,365)
Payment on long-term debt			(397,000)
Payment of financing costs	(500)	(2,603)	(8,266)
Share repurchases for minimum tax withholding	(2,378)	(1,292)	(1,719)
Net cash used in financing activities	(18,216)	(13,731)	211,650
Change in cash and cash equivalents	(321,087)	226,217	(55,926)
Cash and cash equivalents at beginning of period	325,852	99,635	155,561
Cash and cash equivalents at end of period	$ 4,765	$ 325,852	$ 99,635

BUSINESS DESCRIPTION & SUMMARY

BUSINESS DESCRIPTION & SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2023
BUSINESS DESCRIPTION & SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
BUSINESS DESCRIPTION & SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	1. BUSINESS DESCRIPTION & SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Business and Basis of Accounting Consolidated Communications Holdings, Inc. (the “Company,” “we,” “our” or “us”) is a holding company with operating subsidiaries (collectively “Consolidated”) that provide communication solutions to consumer, commercial and carrier customers across a service area in over 20 states. Leveraging our advanced fiber network spanning approximately 60,000 fiber route miles, we offer residential high-speed Internet, video, phone and home security services as well as a comprehensive business product suite including: data and Internet solutions, voice, data center services, security services, managed and IT services, and an expanded suite of cloud services. Use of Estimates Preparation of the financial statements in conformity with accounting principles generally accepted in the United States and pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”) requires management to make estimates and assumptions that effect the reported amounts of assets and liabilities as of the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results may differ materially from those estimates. Our critical accounting estimates include (i) impairment evaluations associated with indefinite-lived intangible assets (Note 1), (ii) the determination of deferred tax asset and liability balances (Notes 1 and 14) and (iii) pension plan and other post-retirement costs and obligations (Notes 1 and 13). Principles of Consolidation Our consolidated financial statements include the accounts of the Company and our wholly-owned subsidiaries and subsidiaries in which we have a controlling financial interest. All significant intercompany transactions have been eliminated. Recent Business Developments Merger Agreement On October 15, 2023, we entered into an Agreement and Plan of Merger (the “Merger Agreement”) with Condor Holdings LLC, a Delaware limited liability company (“Parent”) affiliated with certain funds managed by affiliates of Searchlight Capital Partners, L.P. (“Searchlight”), and Condor Merger Sub Inc., a Delaware corporation and a wholly owned subsidiary of Parent (“Merger Sub”), pursuant to which, subject to the terms and conditions thereof, Merger Sub will merge with and into the Company (the “Merger”) with the Company continuing as the surviving corporation and a wholly owned subsidiary of an affiliate of Searchlight. British Columbia Investment Management Corporation (“BCI”) and certain affiliates of Searchlight have committed to provide equity financing to Parent to fund the transactions contemplated by the Merger Agreement. Searchlight is the beneficial owner of approximately 34% of the Company’s outstanding shares of common stock as of December 31, 2023 and is the holder of 100% of the Company’s outstanding Series A perpetual preferred stock. Refer to Note 4 for a more complete discussion of the strategic investment with Searchlight. Subject to the terms and conditions set forth in the Merger Agreement, upon the consummation of the Merger, each share of the Company’s common stock, par value $0.01 per share (other than shares of the Company’s common stock (i) held directly or indirectly by Parent, Merger Sub or any subsidiary of the Company, (ii) held by the Company as treasury shares or (iii) held by any person who properly exercises appraisal rights under Delaware law) will be converted into the right to receive an amount in cash equal to $4.70 per share, without interest (the “Merger Consideration”), subject to any withholding of taxes required by applicable law. In addition, pursuant to the Merger Agreement, upon the consummation of the Merger, (i) Company restricted share awards (“Company RSAs”) held by non-employee directors or by certain affiliates of Searchlight will vest and be canceled in exchange for the Merger Consideration and (ii) all other Company RSAs will be converted into restricted cash awards based on the Merger Consideration and subject to the same terms and conditions, including time- and performance-based vesting conditions, as the corresponding Company RSA (except that the relative total shareholder return modifier shall be deemed to be achieved at the target level). The Merger Agreement has, unanimously by the directors present, been approved by the board of directors of the Company (the “Board”), acting upon the unanimous recommendation of a special committee consisting of only independent and disinterested directors of the Company (the “Special Committee”). On January 31, 2024, the Company held a virtual special meeting of stockholders (the “Special Meeting”) to consider three proposals with respect to the Merger Agreement. The first proposal, to adopt the Merger Agreement, was approved by (i) holders of a majority of the voting power represented by the issued and outstanding shares of our common stock that were entitled to vote thereon and (ii) holders of a majority of the voting power represented by the issued and outstanding shares of our common stock that were entitled to vote thereon and held by Unaffiliated Stockholders (as defined in the Merger Agreement). The second proposal, to approve by advisory (non-binding) vote the compensation that may be paid or become payable to the named executive officers of the Company in connection with the consummation of the Merger, was approved by the requisite vote of the Company’s stockholders. The third proposal, to approve any adjournment of the Special Meeting, if necessary, to solicit additional proxies if there were insufficient votes in favor of the Merger Agreement proposal, was also approved by the requisite vote of the Company’s stockholders. Because the Merger Agreement proposal was approved by the requisite vote, no adjournment to solicit additional proxies was necessary. The proposed transaction constitutes a “going-private transaction” under the rules of the SEC and is expected to close by the first quarter of 2025. The closing of the Merger is subject to various conditions, including (i) the expiration or termination of the applicable waiting periods (and any extensions thereof) under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (the “HSR Act”); (ii) the receipt of certain required consents or approvals from (a) the Federal Communications Commission, (b) the Committee on Foreign Investment in the United States, (c) state public utility commissions and (d) local regulators in connection with the provision of telecommunications and media services; (iii) the absence of any order, injunction or decree restraining, enjoining or otherwise prohibiting or making illegal the consummation of the Merger or the other transactions contemplated by the Merger Agreement; and (iv) the accuracy of the representations and warranties contained in the Merger Agreement, subject to customary materiality qualifications, as of the date of the Merger Agreement and the date of closing, and performance in all material respects of the covenants and agreements contained in the Merger Agreement. The transaction is not subject to a financing condition. We are awaiting required regulatory approvals in order to execute the Merger. Following the closing of the transaction, shares of our common stock will no longer be traded or listed on any public securities exchange. Cost Savings Initiative In July 2023, we initiated a business simplification and cost savings initiative plan intended to further align our company as a fiber-first provider, improve operating efficiencies, lower our cost structure and ultimately improve the overall customer experience. This initiative includes a reduction in workforce, consolidation and elimination of certain facilities and review of our product offerings. In 2023, we recognized severance costs of $17.4 million in connection with the cost savings plan. Discontinued Operations – Sale of Investment in Wireless Partnerships On September 13, 2022, we completed the sale of our five limited wireless partnership interests to Cellco Partnership (“Cellco”) for an aggregate purchase price of $490.0 million, other than a portion of the interest in one of the partnerships which was sold to a limited partner of such partnership pursuant to its right of first refusal. Cellco is the general partner for each of the five wireless partnerships and is an indirect, wholly-owned subsidiary of Verizon Communications, Inc. In accordance with Accounting Standards Codification (“ASC”) 205-20, Presentation of Financial Statements – Discontinued Operations Cash and Cash Equivalents We consider all highly liquid investments with an original maturity of three months or less to be cash equivalents. Our cash equivalents consist primarily of money market funds and commercial paper. The carrying amounts of our cash equivalents approximate their fair values. Accounts Receivable and Allowance for Credit Losses Accounts receivable (“AR”) consists primarily of amounts due to the Company from normal business activities. We maintain an allowance for credit losses (“ACL”) based on our historical loss experience, current conditions and forecasted changes including but not limited to changes related to the economy, our industry and business. Uncollectible accounts are written-off (removed from AR and charged against the ACL) when internal collection efforts have been unsuccessful. Subsequently, if payment is received from the customer, the recovery is credited to the ACL. The following table summarizes the activity in the ACL for the years ended December 31, 2023, 2022 and 2021: (In thousands) 2023 2022 2021 Balance at beginning of year $ 11,470 $ 9,961 $ 9,136 Provision charged to expense 8,520 8,684 7,752 Write-offs, less recoveries (6,521) (7,175) (6,927) Balance at end of year $ 13,469 $ 11,470 $ 9,961 Investments Investments in debt securities that we have the positive intent and ability to hold until maturity are classified as held-to-maturity. We consider all highly liquid investments with original maturities of three months or less to be cash equivalents. Investments with original maturities of more than three months and less than one year are classified as short-term investments. Held-to maturity debt securities are recorded at amortized cost, which approximates fair value, and realized gains or losses are recognized in earnings. Our long-term investments are primarily accounted for under either the equity method or at cost. If we have the ability to exercise significant influence over the operations and financial policies of an affiliated company, the investment in the affiliated company is accounted for using the equity method. If we do not have control and also cannot exercise significant influence, we account for these investments at our initial cost less impairment because fair value is not readily available for these investments. We review our investment portfolio periodically to determine whether there are identified events or circumstances that would indicate there is a decline in the fair value that is considered to be other than temporary. If we believe the decline is other than temporary, we evaluate the financial performance of the business and compare the carrying value of the investment to quoted market prices (if available) or the fair value of similar investments. If an investment is deemed to have experienced an impairment that is considered other-than temporary, the carrying amount of the investment is reduced to its quoted or estimated fair value, as applicable, and an impairment loss is recognized in other income (expense). Fair Value of Financial Instruments We account for certain assets and liabilities at fair value. Fair value is an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or a liability. A financial asset or liability’s classification within a three-tiered value hierarchy is determined based on the lowest level input that is significant to the fair value measurement. The hierarchy prioritizes the inputs to valuation techniques into three broad levels in order to maximize the use of observable inputs and minimize the use of unobservable inputs. The levels of the fair value hierarchy are as follows: Level 1 – Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets. Level 2 – Inputs that reflect quoted prices in active markets for similar assets or liabilities, quoted prices for identical or similar assets or liabilities in inactive markets and inputs other than quoted prices that are directly or indirectly observable in the marketplace. Level 3 – Unobservable inputs which are supported by little or no market activity. Property, Plant and Equipment Property, plant and equipment are recorded at cost. We capitalize additions and substantial improvements and expense repairs and maintenance costs as incurred. We capitalize the cost of internal-use network and non-network software which has a useful life in excess of one year. Subsequent additions, modifications or upgrades to internal-use network and non-network software are capitalized only to the extent that they allow the software to perform a task it previously did not perform. Software maintenance and training costs are expensed in the period in which they are incurred. Also, we capitalize interest associated with the development of internal-use network and non-network software. Property, plant and equipment consisted of the following as of December 31, 2023 and 2022: December 31, December 31, Estimated (In thousands) 2023 2022 Useful Lives Land and buildings $ 275,989 $ 270,708 18 - 40 years Central office switching and transmission 1,797,552 1,635,263 3 - 25 years Outside plant cable, wire and fiber facilities 2,700,978 2,445,298 3 - 50 years Furniture, fixtures and equipment 380,041 347,346 3 - 15 years Assets under finance leases 71,398 58,081 2 - 16 years Total plant in service 5,225,958 4,756,696 Less: accumulated depreciation and amortization (3,001,201) (2,754,587) Plant in service 2,224,757 2,002,109 Construction in progress 108,584 123,736 Construction inventory 115,668 108,277 Totals $ 2,449,009 $ 2,234,122 Construction inventory, which is stated at weighted average cost, consists primarily of network construction materials and supplies that when issued are predominately capitalized as part of new customer installations and the construction of the network. We record depreciation using the straight-line method over estimated useful lives using either the group or unit method. The useful lives are estimated at the time the assets are acquired and are based on historical experience with similar assets, anticipated technological changes and the expected impact of our strategic operating plan on our network infrastructure. In addition, the ranges of estimated useful lives presented above are impacted by the accounting for business combinations as the lives assigned to these acquired assets are generally much shorter than that of a newly acquired asset. The group method is used for depreciable assets dedicated to providing regulated telecommunication services, including the majority of the network, outside plant facilities and certain support assets. A depreciation rate for each asset group is developed based on the average useful life of the group. The group method requires periodic revision of depreciation rates. When an individual asset is sold or retired, the difference between the proceeds, if any, and the cost of the asset is charged or credited to accumulated depreciation, without recognition of a gain or loss. The unit method is primarily used for buildings, furniture, fixtures and other support assets. Each asset is depreciated on the straight-line basis over its estimated useful life. When an individual asset is sold or retired, the cost basis of the asset and related accumulated depreciation are removed from the accounts and any associated gain or loss is recognized. Depreciation and amortization expense related to property, plant and equipment was $291.8 million, $269.3 million and $261.1 million in 2023, 2022 and 2021, respectively. Amortization of assets under finance leases is included in the depreciation and amortization expense in the consolidated statements of operations. We evaluate the recoverability of our property, plant and equipment whenever events or substantive changes in circumstances indicate that the carrying amount of an asset group may not be recoverable. Recoverability is measured by a comparison of the carrying amount of an asset group to estimated undiscounted future cash flows expected to be generated by the asset group. If the total of the expected future undiscounted cash flows were less than the carrying amount of the asset group, we would recognize an impairment charge for the difference between the estimated fair value and the carrying value of the asset group. Intangible Assets Indefinite-Lived Intangibles Goodwill and tradenames are evaluated for impairment annually or more frequently when events or changes in circumstances indicate that the asset might be impaired. We evaluate the carrying value of goodwill and tradenames as of November 30 of each year. Goodwill Goodwill is the excess of the acquisition cost of a business over the fair value of the identifiable net assets acquired. Goodwill is not amortized but instead evaluated annually for impairment. The evaluation of goodwill may first include a qualitative assessment to determine whether it is more likely than not that the fair value of the reporting unit is less than its carrying amount. Events and circumstances integrated into the qualitative assessment process include a combination of macroeconomic conditions affecting equity and credit markets, significant changes to the cost structure, overall financial performance and other relevant events affecting the reporting unit. When we use the quantitative approach to assess the goodwill carrying value and the fair value of our single reporting unit, the fair value of our reporting unit is compared to its carrying amount, including goodwill. The estimated fair value of the reporting unit is determined using a combination of market-based approaches and a discounted cash flow (“DCF”) model and reconciled to our market capitalization plus an estimated control premium. The assumptions used in the estimate of fair value are based upon a combination of historical results and trends, new industry developments and future cash flow projections, as well as relevant comparable company earnings multiples for the market-based approaches. Significant assumptions used in the analysis may include a long-term growth rate and the weighted average cost of capital which is used to discount estimates of projected future results and cash flows. Such assumptions are judgmental and subject to change as a result of changing economic and competitive conditions. We use a weighting of the results derived from the valuation approaches to estimate the fair value of the reporting unit. In measuring the fair value of our single reporting unit as described, we consider the fair value of our reporting unit in relation to our overall enterprise value, measured as the publicly traded stock price multiplied by the fully diluted shares outstanding plus the fair value of outstanding debt. Our reporting unit fair value models are consistent with a range in value indicated by both the preceding three-month average stock price and the stock price on the valuation date, plus an estimated acquisition premium which is based on observable transactions of comparable companies, if applicable. For the 2023 assessment, we evaluated the fair value of goodwill compared to the carrying value using the qualitative approach. The results of the qualitative approach concluded that it was more likely than not that the fair value of goodwill was greater than the carrying value as of November 30, 2023. If the carrying value of the reporting unit exceeds its fair value, a goodwill impairment is recorded for the difference in the carrying value and fair value. We did not recognize any goodwill impairment in 2023, 2022 or 2021 as a result of the impairment tests. At December 31, 2023 and 2022, the carrying value of goodwill was $814.6 million and $929.6 million, respectively. Goodwill decreased $114.9 million during 2023 as a result of allocated goodwill for a divestiture classified as assets held for sale at December 31, 2023, as described in Note 5. Trade Name Our trade name is the federally registered mark CONSOLIDATED, a design of interlocking circles, which is used in association with our communication services. The Company’s corporate branding strategy leverages the CONSOLIDATED name and brand identity. All of the Company’s business units and several of our products and services incorporate the CONSOLIDATED name. Trade names with indefinite useful lives are not amortized but are tested for impairment at least annually. If facts and circumstances change relating to a trade name’s continued use in the branding of our products and services, it may be treated as a finite-lived asset and begin to be amortized over its estimated remaining life. When we use the quantitative approach to estimate the fair value of our trade names, we use DCFs based on a relief from royalty method. If the fair value of our trade names was less than the carrying amount, we would recognize an impairment charge for the difference between the estimated fair value and the carrying value of the assets. We perform our impairment testing of our trade names as single units of accounting based on their use in our single reporting unit. For the 2023 assessment, we used the qualitative approach to evaluate the fair value compared to the carrying value of the trade name. Based on our assessment, we concluded that the fair value of the trade names continued to exceed the carrying value. The carrying value of our trade names, excluding any finite lived trade names, was $10.6 million at December 31, 2023 and 2022. Finite-Lived Intangible Assets Finite-lived intangible assets subject to amortization consist primarily of our customer lists of an established base of customers that subscribe to our services. Finite-lived intangible assets are amortized using an accelerated amortization method or on a straight-line basis over their estimated useful lives. We evaluate the potential impairment of finite-lived intangible assets when impairment indicators exist. If the carrying value is no longer recoverable based upon the undiscounted future cash flows of the asset, an impairment equal to the difference between the carrying amount and the fair value of the asset is recognized. We did not recognize any intangible impairment charges in the years ended December 31, 2023, 2022 or 2021. The components of finite-lived intangible assets are as follows: December 31, 2023 December 31, 2022 Gross Carrying Accumulated Gross Carrying Accumulated (In thousands) Useful Lives Amount Amortization Amount Amortization Customer relationships 7 - 11 years $ 299,538 $ (280,922) $ 318,498 $ (275,409) Amortization expense related to the finite-lived intangible assets for the years ended December 31, 2023, 2022 and 2021 was $23.3 million, $30.9 million and $39.5 million, respectively. Expected future amortization expense of finite-lived intangible assets is as follows: (In thousands) 2024 $ 10,107 2025 3,180 2026 2,529 2027 1,996 2028 804 Thereafter — Total $ 18,616 Derivative Financial Instruments We use derivative financial instruments to manage our exposure to the risks associated with fluctuations in interest rates. Our interest rate swap agreements effectively convert a portion of our floating-rate debt to a fixed-rate basis, thereby reducing the impact of interest rate changes on future cash interest payments. At the inception of a hedge transaction, we formally document the relationship between the hedging instruments including our objective and strategy for establishing the hedge. In addition, the effectiveness of the derivative instrument is assessed at inception and on an ongoing basis throughout the hedging period. Counterparties to derivative instruments expose us to credit-related losses in the event of nonperformance. We execute agreements only with financial institutions we believe to be creditworthy and regularly assess the credit worthiness of each of the counterparties. We do not use derivative instruments for trading or speculative purposes. Derivative financial instruments are recorded at fair value in our consolidated balance sheets. Fair value is determined based on projected interest rate yield curves and an estimate of our nonperformance risk or our counterparty’s nonperformance credit risk, as applicable. We do not anticipate any nonperformance by any counterparty. For derivative instruments designated as a cash flow hedge, the change in the fair value is recognized as a component of accumulated other comprehensive income (loss) (“AOCI”) and is recognized as an adjustment to earnings over the period in which the hedged item impacts earnings. When an interest rate swap agreement terminates, any resulting gain or loss is recognized over the shorter of the remaining original term of the hedging instrument or the remaining life of the underlying debt obligation. If a derivative instrument is de-designated, the remaining gain or loss in AOCI on the date of de-designation is amortized to earnings over the remaining term of the hedging instrument. For derivative financial instruments that are not designated as a hedge, including those that have been de-designated, changes in fair value are recognized on a current basis in earnings. Cash flows from hedging activities are classified under the same category as the cash flows from the hedged items in our consolidated statement of cash flows. See Note 9 for further discussion of our derivative financial instruments. Series A Preferred Stock Our Series A Preferred Stock is classified as mezzanine equity in the consolidated balance sheets due to a deemed liquidation feature, which gives holders the right to require the Company to redeem all or any part of the holders’ Series A Preferred Stock for cash in the event of a fundamental change or change in control. We have not adjusted the carrying value of the Series A Preferred Stock to its liquidation value since the securities are not currently redeemable and it is not probable that they will become redeemable. Subsequent adjustments to increase the carrying value to the liquidation value will be made only if and when it becomes probable that such a deemed liquidation event will occur. Share-based Compensation We recognize share-based compensation expense for all restricted stock awards (“RSAs”) and performance share awards (“PSAs”) (collectively, “stock awards”) based on the estimated fair value of the stock awards on the date of grant. We recognize the expense associated with RSAs on a straight-line basis and for PSAs using the graded-vesting method over the requisite service period. Forfeitures are accounted for as they occur. See Note 12 for additional information regarding share-based compensation. Pension Plan and Other Post-Retirement Benefits We maintain noncontributory defined benefit pension plans and provide certain post-retirement health care and life insurance benefits to certain eligible employees. We also maintain two unfunded supplemental retirement plans to provide incremental pension payments to certain former employees. See Note 13 for a more detailed discussion regarding our pension and other post-retirement benefits. We recognize pension and post-retirement benefits expense during the current period in the consolidated statement of operations using certain assumptions, including the expected long-term rate of return on plan assets, interest cost implied by the discount rate, expected health care cost trend rate and the amortization of unrecognized gains and losses. We determine expected long-term rate of return on plan assets by considering historical investment performance, plan asset allocation strategies and return forecasts for each asset class and input from its advisors. Projected returns by such advisors were based on broad equity and fixed income indices. The expected long-term rate of return is reviewed annually in conjunction with other plan assumptions and revised, if considered necessary, to reflect changes in the financial markets and the investment strategy. Our plan assets are valued at fair value as of the measurement date. Our discount rate assumption is determined annually to reflect the rate at which the benefits could be effectively settled and approximate the timing of expected future payments based on current market determined interest rates for similar obligations. We use bond matching model BOND:Link comprising of high quality corporate bonds to match cash flows to the expected benefit payments. We recognize the overfunded or underfunded status of our defined benefit pension and post-retirement plans as either an asset or liability in the consolidated balance sheet. Actuarial gains and losses that arise during the year are recognized as a component of comprehensive income (loss), net of applicable income taxes, and included in accumulated other comprehensive income (loss). These gains and losses are amortized over future years as a component of the net periodic benefit cost when the net gains and losses exceed 10% of the greater of the market-related value of the plan assets or the projected benefit obligation at the beginning of the year. The amount in excess of the corridor is amortized over the average remaining service period of participating employees expected to receive benefits under the plans. Income Taxes Our estimates of income taxes and the significant items resulting in the recognition of deferred tax assets and liabilities are disclosed in Note 14 and reflect our assessment of future tax consequences of transactions that have been reflected in our financial statements or tax returns for each taxing jurisdiction in which we operate. We base our provision for income taxes on our current period income, changes in our deferred income tax assets and liabilities, income tax rates, changes in estimates of our uncertain tax positions and tax planning opportunities available in the jurisdictions in which we operate. We recognize deferred tax assets and liabilities when there are temporary differences between the financial reporting basis and tax basis of our assets and liabilities and for the expected benefits of using net operating loss and tax credit loss carryforwards. We establish valuation allowances when necessary to reduce the carrying amount of deferred income tax assets to the amounts that we believe are more likely than not to be realized. We evaluate the need to retain all or a portion of the valuation allowance on our deferred tax assets. When a change in the tax rate or tax law has an impact on deferred taxes, we apply the change when the tax law change is enacted, based on the years in which the temporary differences are expected to reverse. As we operate in more than one state, changes in our state apportionment factors, based on operating results, may affect our future effective tax rates and the value of our deferred tax assets and liabilities. We record a change in tax rates in our consolidated financial statements in the period of enactment. Income tax consequences that arise in connection with a business combination include identifying the tax basis of assets and liabilities acquired and any contingencies associated with uncertain tax positions assumed or resulting from the business combination. Deferred tax assets and liabilities related to temporary differences of an acquired enti

REVENUE

REVENUE	12 Months Ended
REVENUE	Dec. 31, 2023
REVENUE
REVENUE	2. REVENUE Nature of Contracts with Customers Our revenue contracts with customers may include a promise or promises to deliver goods such as equipment and/or services such as broadband, video or voice services. Promised goods and services are considered distinct as the customer can benefit from the goods or services either on their own or together with other resources that are readily available to the customer and the Company’s promise to transfer a good or service to the customer is separately identifiable from other promises in the contract. The Company accounts for goods and services as separate performance obligations. Each service is considered a single performance obligation as it is providing a series of distinct services that are substantially the same and have the same pattern of transfer. The transaction price is determined at contract inception and reflects the amount of consideration to which we expect to be entitled in exchange for transferring a good or service to the customer. This amount is generally equal to the market price of the goods and/or services promised in the contract and may include promotional discounts. The transaction price excludes amounts collected on behalf of third parties such as sales taxes and regulatory fees. Conversely, nonrefundable upfront fees, such as service activation and set-up fees, are included in the transaction price. In determining the transaction price, we consider our enforceable rights and obligations within the contract. We do not consider the possibility of a contract being cancelled, renewed or modified. The transaction price is allocated to each performance obligation based on the standalone selling price of the good or service, net of the related discount, as applicable. Revenue is recognized when or as performance obligations are satisfied by transferring control of the good or service to the customer. Disaggregation of Revenue The following table summarizes revenue from contracts with customers for the years ended December 31, 2023, 2022 and 2021: Year Ended December 31, (In thousands) 2023 2022 2021 Operating Revenues Consumer: Broadband (Data and VoIP) $ 290,847 $ 272,146 $ 269,323 Voice services 125,166 144,853 160,698 Video services 34,957 54,153 65,114 450,970 471,152 495,135 Commercial: Data services (includes VoIP) 214,707 228,466 228,931 Voice services 127,909 142,274 154,567 Other 39,883 43,100 40,032 382,499 413,840 423,530 Carrier: Data and transport services 127,248 137,378 133,434 Voice services 15,588 14,772 17,183 Other 1,168 1,688 1,592 144,004 153,838 152,209 Subsidies 27,888 33,382 69,739 Network access 90,250 104,644 120,487 Other products and services 14,509 14,407 21,133 Total operating revenues $ 1,110,120 $ 1,191,263 $ 1,282,233 Contract Assets and Liabilities The following table provides information about receivables, contract assets and contract liabilities from our revenue contracts with customers: Year Ended December 31, (In thousands) 2023 2022 Accounts receivable, net $ 121,194 $ 119,675 Contract assets 38,910 25,322 Contract liabilities 56,967 54,537 Contract assets include costs that are incremental to the acquisition of a contract. Incremental costs are those that result directly from obtaining a contract or costs that would not have been incurred if the contract had not been obtained, which primarily relate to sales commissions. These costs are deferred and amortized over the expected customer life. We determined that the expected customer life is the expected period of benefit as the commission on the renewal contract is not commensurate with the commission on the initial contract. During the years ended December 31, 2023, 2022 and 2021, the Company recognized expense of $13.7 million, $12.9 million and $11.1 million, respectively, related to deferred contract acquisition costs. Contract liabilities include deferred revenues related to advanced payments for services and nonrefundable, upfront service activation and set-up fees, which are generally deferred and amortized over the expected customer life as the option to renew without paying an upfront fee provides the customer with a material right. During the years ended December 31, 2023, 2022 and 2021, the Company recognized previously deferred revenues of $447.9 million, $478.9 million and $471.7 million, respectively. A receivable is recognized in the period the Company provides goods or services when the Company’s right to consideration is unconditional. Payment terms on invoiced amounts are generally 30 to 60 days. Performance Obligations ASC 606, Revenue from Contracts with Customers 1. The performance obligation is part of a contract that has an original expected duration of one year or less. 2. Revenue is recognized from the satisfaction of the performance obligations in the amount billable to the customer in accordance with ASC 606-10-55-18. The Company has elected these practical expedients. Performance obligations related to our service revenue contracts are generally satisfied over time. For services transferred over time, revenue is recognized based on amounts invoiced to the customer as the Company has concluded that the invoice amount directly corresponds with the value of services provided to the customer. Management considers this a faithful depiction of the transfer of control as services are substantially the same and have the same pattern of transfer over the life of the contract. As such, revenue related to unsatisfied performance obligations that will be billed in future periods has not been disclosed.

EARNINGS PER SHARE

EARNINGS PER SHARE	12 Months Ended
EARNINGS PER SHARE	Dec. 31, 2023
EARNINGS PER SHARE
EARNINGS PER SHARE	3. EARNINGS PER SHARE Basic and diluted earnings (loss) per common share (“EPS”) are computed using the two-class method, which is an earnings allocation method that determines EPS for each class of common stock and participating securities considering dividends declared and participation rights in undistributed earnings. Common stock related to certain of the Company’s restricted stock awards are considered participating securities because holders are entitled to receive non-forfeitable dividends, if declared, during the vesting term. The potentially dilutive impact of the Company’s restricted stock awards is determined using the treasury stock method. Under the treasury stock method, if the average market price during the period exceeds the exercise price, these instruments are treated as if they had been exercised with the proceeds of exercise used to repurchase common stock at the average market price during the period. Any incremental difference between the assumed number of shares issued and repurchased is included in the diluted share computation. Diluted EPS includes securities that could potentially dilute basic EPS during a reporting period. Dilutive securities are not included in the computation of loss per share when a company reports a net loss from continuing operations as the impact would be anti-dilutive. The computation of basic and diluted EPS attributable to common shareholders computed using the two-class method is as follows: Year Ended December 31, (In thousands, except per share amounts) 2023 2022 2021 Loss from continuing operations $ (250,058) $ (177,704) $ (139,127) Less: dividends on Series A preferred stock 43,910 40,104 2,677 Less: net income attributable to noncontrolling interest 456 564 392 Loss attributable to common shareholders before allocation of earnings to participating securities (294,424) (218,372) (142,196) Less: earnings allocated to participating securities — (6,284) — Loss from continuing operations attributable to common shareholders, after earnings allocated to participating securities (294,424) (212,088) (142,196) Income from discontinued operations — 318,353 32,434 Less: earnings allocated to participating securities — 9,161 — Income from discontinued operations attributable to common shareholders, after earnings allocated to participating securities — 309,192 32,434 Net income (loss) attributable to common shareholders, after earnings allocated to participating securities $ (294,424) $ 97,104 $ (109,762) Weighted-average number of common shares outstanding 113,096 111,754 87,293 Basic and diluted earnings (loss) per common share: Loss from continuing operations $ (2.60) $ (1.90) $ (1.63) Income from discontinued operations — 2.77 0.37 Net income (loss) per common share attributable to common shareholders - basic and diluted $ (2.60) $ 0.87 $ (1.26) Diluted EPS attributable to common shareholders for the years ended December 31, 2023, 2022 and 2021 excludes 3.2 million, 3.3 million and 3.2 million potential common shares, respectively, related to our share-based compensation plan because the inclusion of the potential common shares would have an antidilutive effect.

SEARCHLIGHT INVESTMENT

SEARCHLIGHT INVESTMENT	12 Months Ended
SEARCHLIGHT INVESTMENT	Dec. 31, 2023
SEARCHLIGHT INVESTMENT
SEARCHLIGHT INVESTMENT	4. SEARCHLIGHT INVESTMENT In connection with the Investment Agreement entered into on September 13, 2020, affiliates of Searchlight committed to invest up to an aggregate of $425.0 million in the Company. The investment commitment was structured in two stages. In the first stage of the transaction, which was completed on October 2, 2020, Searchlight invested $350.0 million in the Company in exchange for 6,352,842 shares, or approximately 8%, of the Company’s common stock and was issued a contingent payment right (“CPR”) that was convertible, upon the receipt of certain regulatory and shareholder approvals, into an additional 17,870,012 shares, or 16.9% of the Company’s common stock. In addition, Searchlight received the right to an unsecured subordinated note with an aggregate principal amount of approximately $395.5 million (the “Note”), which was convertible into shares of a new series of perpetual preferred stock of the Company with an aggregate liquidation preference equal to the principal amount of the Note plus accrued interest as of the date of conversion. On July 15, 2021, the Company received all required state public utility commission regulatory approvals necessary for the conversion of the CPR into 16.9% additional shares of the Company’s common stock. As a result, the CPR was converted into 17,870,012 shares of common stock, which were issued to Searchlight on July 16, 2021. In the second stage of the transaction, which was completed on December 7, 2021 following the receipt of Federal Communications Commission (“FCC”) and certain regulatory approvals and the satisfaction of certain other customary closing conditions, Searchlight invested an additional $75.0 million and was issued the Note. On December 7, 2021, Searchlight elected to convert the Note into 434,266 shares of Series A Perpetual Preferred Stock, par value $0.01 per share (the “Series A Preferred Stock”). In addition, the CPR converted into an additional 15,115,899 shares, or an additional 10.1%, of the Company’s common stock. As of December 31, 2023 and 2022, the total shares of common stock issued to Searchlight represent approximately 34% of the Company’s outstanding common stock. Prior to conversion, the CPR was reported at its estimated fair value within long-term liabilities in the consolidated balance sheet. Subsequent changes in fair value were reflected in earnings within other income and expense in the consolidated statements of operations. During the year ended December 31, 2021, we recognized a loss of $86.5 million on the change in the fair value of the CPR. The Note bore interest at 9.0% per annum from the date of the closing of the first stage of the transaction and was payable semi-annually in arrears on April 1 and October 1 of each year. The term of the Note was 10 years and was due on October 1, 2029. The Note’s unamortized discount and issuance costs were being amortized over the contractual term of the Note using the effective interest method. The Note included a paid-in-kind (“PIK”) option for a five-year period beginning as of October 2, 2020. During the year ended December 31, 2021, the Company elected the PIK option and accrued interest of $38.8 million was added to the principal balance of the Note. On December 7, 2021, Searchlight exercised its option to convert the Note and the net carrying value of the Note of $285.9 million, net of unamortized discount and issuance costs of $139.7 million and $8.7 million, respectively, was converted into 434,266 shares of Series A Preferred Stock at a liquidation preference of $1,000 per share. Dividends on the Series A Preferred Stock accrue daily on the liquidation preference at a rate of 9.0% per annum, payable semi-annually in arrears. See Note 11 for more information on the terms of the Series A Preferred Stock. With the strategic investment from Searchlight, we intend to enhance our fiber infrastructure and accelerate the investment in our network, which will include the upgrade of an aggregate of approximately 1.6 million passings across select service areas to enable multi-Gig capable services to these homes and small businesses

DIVESTITURES

DIVESTITURES	12 Months Ended
DIVESTITURES	Dec. 31, 2023
DIVESTITURES
DIVESTITURES	5. DIVESTITURES Washington Operations On July 10, 2023, we entered into a definitive agreement to sell all of the issued and outstanding stock of our business located in Washington, Consolidated Communications of Comerco Company (“CCCC”), which directly owns all of the issued and outstanding shares of Consolidated Communications of Washington Company (“CCWC” and together with CCCC”, the “Washington operations”), for gross cash proceeds of approximately $73.0 million, subject to customary working capital adjustments and other post-closing purchase price adjustments. The transaction is expected to close before the second half of 2024 and is subject to the receipt of all customary regulatory approvals and the satisfaction of other closing conditions. The asset sale aligns with our ongoing strategic asset review and focus on our fiber expansion plans in our core broadband regions. At December 31, 2023, the major classes of assets and liabilities to be sold were classified as held for sale in the consolidated balance sheet and consisted of the following: (In thousands) Current assets $ 1,208 Property, plant and equipment 30,581 Goodwill 114,946 Other long-term assets 1,493 Impairment to net realizable value (77,755) Total assets $ 70,473 Current liabilities $ 2,196 Other long-term liabilities 1,206 Total liabilities $ 3,402 During the year ended December 31, 2023, the carrying value of the net assets to be sold were reduced to their estimated fair value of approximately $67.1 million, which was determined based on the estimated selling price less costs to sell and were classified as Level 2 within the fair value hierarchy. As a result, we recognized an impairment loss of $77.8 million during the year ended December 31, 2023. Kansas City Operations On March 2, 2022, we entered into a definitive agreement to sell substantially all the assets of our business located in the Kansas City market (the “Kansas City operations”). The Kansas City operations provides data, voice and video services to customers within the Kansas City metropolitan area and surrounding counties and included approximately 17,100 consumer customers and 1,600 commercial customers. The sale closed on November 30, 2022 for gross cash proceeds of $82.1 million, subject to the finalization of certain working capital and other post-closing purchase price adjustments. The proceeds from the sale were used in part to support our fiber expansion plan in our core regions. In 2022, in connection with the classification as assets held for sale, the carrying value of the net assets was reduced to their estimated fair value and we recognized an impairment loss of $131.7 million during the year ended December 31, 2022. During the years ended December 31, 2023 and 2022, we recognized a loss on the sale of $1.6 million and $16.8 million, respectively, as a result of expected purchase price adjustments and changes in working capital and estimated selling costs. The loss on the sale of the Kansas City Operations is included in loss on disposal of assets in the consolidated statement of operations. Tower Assets During the year ended December 31, 2022, we completed the sale of certain non-strategic communication towers for cash proceeds of approximately $21.0 million and recognized a pre-tax gain on the sale of $20.8 million, which is included in loss on disposal of assets in the consolidated statement of operations. Ohio Operations On September 22, 2021, we entered into a definitive agreement to sell substantially all of the assets of our non-core, rural ILEC business located in Ohio, Consolidated Communications of Ohio Company (“CCOC” or the “Ohio Operations”). CCOC provides telecommunications and data services to residential and business customers in 11 rural communities in Ohio and surrounding areas and included approximately 3,800 access lines and 3,900 data connections. The sale was completed on January 31, 2022 for gross cash proceeds of $26.1 million, including customary working capital adjustments. The asset sale aligns with our strategic asset review and focus on our core broadband regions. In 2021, in connection with the expected sale, the carrying value of the net assets were reduced to their estimated fair value and we recognized an impairment loss of $5.7 million during the year ended December 31, 2021. During the year ended December 31, 2022, we recognized an additional loss on the sale of $0.8 million, which is included in selling, general and administrative expense

INVESTMENTS

INVESTMENTS	12 Months Ended
INVESTMENTS	Dec. 31, 2023
INVESTMENTS.
INVESTMENTS	6. INVESTMENTS Our investments are as follows: (In thousands) 2023 2022 Short-term investments: Held-to-maturity debt securities $ - $ 87,951 Long-term investments: Cash surrender value of life insurance policies $ 2,860 $ 2,774 CoBank, ACB Stock 5,755 7,250 Other 272 273 $ 8,887 $ 10,297 Held-to-Maturity Debt Securities Our held-to-maturity debt securities consist of investments in commercial paper and certificate of deposits. At December 31, 2023, we had no held-to-maturity investments. At December 31, 2022, we had $88.0 million of investments in commercial paper included in short-term investments. The investments have original maturities of less than one year. As of December 31, 2022, the amortized cost of the investments approximated their fair value and the gross unrecognized gains and losses were not material. Long-Term Investments CoBank, ACB (“CoBank”) is a cooperative bank owned by its customers. Annually, CoBank distributes patronage in the form of cash and stock in the cooperative based on the Company’s outstanding loan balance with CoBank, which has traditionally been a significant lender in the Company’s credit facility. The investment in CoBank represents the accumulation of the equity patronage paid by CoBank to the Company. Investment Income Investment income from our investments classified as cash equivalents, held-to-maturity debt securities and other investments is reflected in other, net within other income (expense) in the consolidated statements of operations. Investment income was $6.1 million, $0.4 million and $0.5 million for the years ended December 31, 2023, 2022 and 2021, respectively. Discontinued Operations Investments at Cost We owned 2.34% of GTE Mobilnet of South Texas Limited Partnership (the “Mobilnet South Partnership”). The principal activity of the Mobilnet South Partnership is providing cellular service in the Houston, Galveston, and Beaumont, Texas metropolitan areas. We also owned 3.60% of Pittsburgh SMSA Limited Partnership (“Pittsburgh SMSA”), which provides cellular service in and around the Pittsburgh metropolitan area. Because of our limited influence over these partnerships, we accounted for these investments at our initial cost less any impairment because fair value is not readily available for these investments. For these investments, we adjusted the carrying value for any purchases or sales of our ownership interests, if any (there were none during the periods presented). Prior to classification as discontinued operations, we recorded distributions received from these investments as investment income in non-operating income (expense). In 2022 and 2021, we received cash distributions from these partnerships totaling $11.7 million and $20.7 million, respectively. Equity Method We owned 20.51% of GTE Mobilnet of Texas RSA #17 Limited Partnership (“RSA #17”), 16.67% of Pennsylvania RSA 6(I) Limited Partnership (“RSA 6(I)”) and 23.67% of Pennsylvania RSA 6(II) Limited Partnership (“RSA 6(II)”). RSA #17 provides cellular service to a limited rural area in Texas. RSA 6(I) and RSA 6(II) provide cellular service in and around our Pennsylvania service territory. Because we had significant influence over the operating and financial policies of these three entities, we accounted for the investments using the equity method. Prior to classification as discontinued operations, income was recognized as investment income in non-operating income (expense) on our proportionate share of earnings and cash distributions were recorded as a reduction in our investment. In 2022 and 2021, we received cash distributions from these partnerships totaling $17.5 million and $22.3 million, respectively. On September 13, 2022, we completed the sale of our five limited wireless partnership interests to Cellco for an aggregate purchase price of $490.0 million. Cellco is the general partner for each of the five wireless partnerships and is an indirect, wholly-owned subsidiary of Verizon Communications, Inc. A portion of the interest in one of the partnerships was sold to a limited partner of such partnership, pursuant to its right of first refusal. The proceeds from the sale were used in part to support our fiber expansion plan. The financial results of the limited partnership interests have been reported as discontinued operations in our consolidated financial statements for prior periods presented. The results of discontinued operations included in the consolidated statements of operations consisted of the following: (In thousands) 2022 2021 Investment income $ 23,467 $ 41,845 Gain on sale of discontinued operations 389,885 — Income from discontinued operations, before income taxes 413,352 41,845 Income tax expense 94,999 9,411 Net income from discontinued operations $ 318,353 $ 32,434 In connection with the sale of the partnership interests, we recognized a taxable gain of approximately of $479.9 million on the transaction. For federal income tax purposes, we utilized our available net operating loss carryforwards to offset the taxable gain. For state income tax purposes, state tax liabilities were approximately $11.2 million. In the statement of cash flows, we have elected to combine cash flows from discontinued operations with cash flows from continuing operations. The following table presents cash flows from operating and investing activities for discontinued operations: (In thousands) 2022 2021 Cash provided by operating activities - discontinued operations $ 29,165 $ 43,040 Cash provided by investing activities - discontinued operations $ 482,966 $ —

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	12 Months Ended
FAIR VALUE MEASUREMENTS	Dec. 31, 2023
FAIR VALUE MEASUREMENTS
FAIR VALUE MEASUREMENTS	7. FAIR VALUE MEASUREMENTS Financial Instruments Interest Rate Swap Agreements Our derivative instruments related to interest rate swap agreements are required to be measured at fair value on a recurring basis. The fair values of the interest rate swaps are determined using valuation models and are categorized within Level 2 of the fair value hierarchy as the valuation inputs are based on quoted prices and observable market data of similar instruments. See Note 9 for further discussion regarding our interest rate swap agreements. Our interest rate swap agreements measured at fair value on a recurring basis at December 31, 2023 and 2022 were as follows: As of December 31, 2023 Quoted Prices Significant In Active Other Significant Markets for Observable Unobservable Identical Assets Inputs Inputs (In thousands) Total (Level 1) (Level 2) (Level 3) Long-term interest rate swap liabilities $ (2,421) $ — $ (2,421) $ — As of December 31, 2022 Quoted Prices Significant In Active Other Significant Markets for Observable Unobservable Identical Assets Inputs Inputs (In thousands) Total (Level 1) (Level 2) (Level 3) Current interest rate swap assets $ 5,959 $ — $ 5,959 $ — We have not elected the fair value option for any of our other assets or liabilities. The carrying value of other financial instruments, including cash and cash equivalents, short-term investments, accounts receivable, accounts payable and accrued liabilities approximate fair value due to their short maturities. The following table presents the other financial instruments that are not carried at fair value but which require fair value disclosure as of December 31, 2023 and 2022. As of December 31, 2023 As of December 31, 2022 (In thousands) Carrying Value Fair Value Carrying Value Fair Value Long-term debt, excluding finance leases $ 2,142,858 $ 1,903,831 $ 2,141,176 $ 1,759,430 Investments Our investments at December 31, 2023 and 2022 accounted for at cost consisted primarily of our investment in CoBank. It is impracticable to determine the fair value of this investment. Long-term Debt The fair value of our senior notes was based on quoted market prices, and the fair value of borrowings under our credit facility was determined using current market rates for similar types of borrowing arrangements. We have categorized the long-term debt as Level 2 within the fair value hierarchy.

LONG-TERM DEBT

LONG-TERM DEBT	12 Months Ended
LONG-TERM DEBT	Dec. 31, 2023
LONG-TERM DEBT
LONG-TERM DEBT	8. LONG-TERM DEBT Long-term debt outstanding, presented net of unamortized discounts, consisted of the following as of December 31, 2023 and 2022: (In thousands) 2023 2022 Senior secured credit facility: Term loans, net of discounts of $7,017 and $8,699 at December 31, 2023 and 2022, respectively $ 992,858 $ 991,176 6.50% Senior notes due 2028 750,000 750,000 5.00% Senior notes due 2028 400,000 400,000 Finance leases 39,240 35,746 2,182,098 2,176,922 Less: current portion of long-term debt and finance leases (18,425) (12,834) Less: deferred debt issuance costs (28,757) (34,626) Total long-term debt $ 2,134,916 $ 2,129,462 Credit Agreement On October 2, 2020, the Company, through certain of its wholly-owned subsidiaries, entered into a Credit Agreement with various financial institutions (as amended, the “Credit Agreement”) to replace the Company’s previous credit agreement in its entirety. The Credit Agreement consisted of term loans in an original aggregate amount of $1,250.0 million (the “Initial Term Loans”) and a revolving loan facility of $250.0 million. The Credit Agreement also includes an incremental loan facility which provides the ability to borrow, subject to certain terms and conditions, incremental loans in an aggregate amount of up to the greater of (a) $300.0 million plus (b) an amount which would not cause its senior secured leverage ratio not to exceed 3.70:1.00 (the “Incremental Facility”). Borrowings under the Credit Agreement are secured by substantially all of the assets of the Company and its subsidiaries, subject to certain exceptions. The Initial Term Loans were issued in an original aggregate principal amount of $1,250.0 million with a maturity date of October 2, 2027 and contained an original issuance discount of 1.5% or $18.8 million, which is being amortized over the term of the loan. Prior to amendments to the Credit Agreement, as described below, the Initial Term Loans required quarterly principal payments of $3.1 million, which commenced December 31, 2020, and bore interest at a rate 4.75% plus the London Interbank Offered Rate (“LIBOR”) subject to a 1.00% LIBOR floor. On January 15, 2021, the Company entered into Amendment No. 1 to the Credit Agreement in which we borrowed an additional $150.0 million aggregate principal amount of incremental term loans (the “Incremental Term Loans”). The Incremental Term Loans have terms and conditions identical to the Initial Term Loans including the same maturity date and interest rate. The Initial Term Loans and Incremental Term Loans, collectively (the “Term Loans”) comprise a single class of term loans under the Credit Agreement. On March 18, 2021, the Company repaid $397.0 million of the outstanding Term Loans with the net proceeds received from the issuance of $400.0 million aggregate principal amount of 5.00% senior secured notes due 2028 (the “5.00% Senior Notes”), as described below. The repayment of the Term Loans was applied to the remaining principal payments in direct order of maturity, thereby eliminating the required quarterly principal payments through the remaining term of the loan. In connection with the repayment of the Term Loans, we recognized a loss on extinguishment of debt of $12.0 million during the year ended December 31, 2021. On April 5, 2021, the Company, entered into Amendment No. 2 to the Credit Agreement (the “Second Amendment”) to refinance the outstanding Term Loans of $999.9 million. The terms and conditions of the Credit Agreement remain substantially similar and unchanged except with respect to the interest rate applicable to the Term Loans and certain other provisions. As a result of the Second Amendment, the interest rate of the Term Loans was reduced to 3.50% plus LIBOR subject to a 0.75% LIBOR floor. The maturity date of the Term Loans of October 2, 2027 remained unchanged. In connection with entering into the Second Amendment, we recognized a loss of $5.1 million on the extinguishment of debt during the year ended December 31, 2021. On November 22, 2022, the Company, entered into Amendment No. 3 to the Credit Agreement (the “Third Amendment”) to, among other things, extend the maturity of the revolving credit facility by two years from October 2, 2025 to October 2, 2027, subject to springing maturity on April 2, 2027 if the Term Loans, as of April 1, 2027, are scheduled to mature earlier than March 31, 2028. The Third Amendment also relaxed the revolving credit facility’s consolidated first lien leverage maintenance covenant, as described below, through June 30, 2025 to 6.35:1.00 from 5.85:1.00. On April 17, 2023, the Company entered into Amendment No. 4 to the Credit Agreement (the “Fourth Amendment”) to replace remaining LIBOR-based benchmark rates with Secured Overnight Financing Rate (“SOFR”)-based benchmark rates. As part of the replacement to SOFR-benchmark rates, borrowings will include an adjustment of 0.11%, 0.26% and 0.43% for borrowings of one, three and six month loans, respectively. With the amendment, the interest rate of the Term Loans is 3.50% plus SOFR plus the SOFR adjustment (subject to a 0.75% SOFR floor). The revolving credit facility has a maturity date of October 2, 2027 and an applicable margin (at our election) of 4.00% for SOFR-based borrowings or 3.00% for alternate base rate borrowings, with a 0.25% reduction in each case if the consolidated first lien leverage ratio, as defined in the Credit Agreement, does not exceed 3.20 to 1.00. As of December 31, 2023 and 2022, there were no borrowings outstanding under the revolving credit facility. Stand-by letters of credit of $35.7 million were outstanding under our revolving credit facility as of December 31, 2023. The stand-by letters of credit are renewable annually and reduce the borrowing availability under the revolving credit facility. As of December 31, 2023, $214.3 million was available for borrowing under the revolving credit facility, subject to certain covenants. As of March 5, 2024, borrowings of $70.0 million were outstanding under the revolving credit facility. The weighted-average interest rate on outstanding borrowings under our credit facilities was 8.96% and 7.63% at December 31, 2023 and 2022, respectively. Interest is payable at least quarterly. Credit Agreement Covenant Compliance The Credit Agreement contains various provisions and covenants, including, among other items, restrictions on the ability to pay dividends, incur additional indebtedness, and issue certain capital stock. We have agreed to maintain certain financial ratios, including a maximum consolidated first lien leverage ratio, as defined in the Credit Agreement. Among other things, it will be an event of default, with respect to the revolving credit facility only, if our consolidated first lien leverage ratio is greater than 7.75:1.00 as of the end of any fiscal quarter from October 15, 2023 to and including December 31, 2024, if on such date the testing threshold is met. The testing threshold is met if the aggregate amount of our borrowings outstanding under the revolving credit facility exceeds 35%. As of December 31, 2023, the testing threshold was not met and our consolidated first lien leverage ratio under the Credit Agreement was 6.22:1.00. As of December 31, 2023, we were in compliance with the Credit Agreement covenants. On October 15, 2023, the Company entered into Amendment No. 5 to the Credit Agreement (the “Fifth Amendment”) to, among other things, increase the maximum consolidated first lien leverage ratio (the “Step-Up”) permitted under the Credit Agreement from 6.35 to 1.00 to (i) 7.75 to 1.00, from October 15, 2023 to and including December 31, 2024, (ii) 7.50 to 1.00, from and including January 1, 2025 to and including March 31, 2025, (iii) 7.25 to 1.00, from and including April 1, 2025 to and including June 30, 2025, (iv) 7.00 to 1.00, from and including July 1, 2025 to and including September 30, 2025, (v) 6.75 to 1.00 from and including October 1, 2025 to and including December 31, 2025, (vi) 6.50 to 1.00, from and including January 1, 2026 to and including March 31, 2026, (vii) 6.25 to 1.00, from and including April 1, 2026 to and including June 30, 2026, (viii) 6.00 to 1.00, from and including July 1, 2026 to and including September 30, 2026, and (ix) 5.85 to 1.00 from and including October 1, 2026 and thereafter (the “Step-Up Period”). While the Step-Up is in effect, the Company will be subject to additional restrictions on its ability to make certain investments and restricted payments (the “Restrictions”). The Step-Up Period and the Restrictions will end and the maximum Consolidated First Lien Leverage Ratio will revert to the levels set forth in the Credit Agreement on the earlier of (a) the Company’s election and (b) August 1, 2025, to the extent $300.0 million in cash proceeds have not been received by the Company from equity contributed to its capital by such date. If the proposed Merger is not completed by August 1, 2025, the increase in the maximum consolidated first lien leverage ratio as permitted in the Fifth Amendment to the Credit Agreement to provide interim financial covenant relief will end and the maximum consolidated first lien leverage ratio will revert to the levels set forth in the Credit Agreement. Senior Notes On October 2, 2020, we completed an offering of $750.0 million aggregate principal amount of 6.50% unsubordinated secured notes due 2028 (the “6.50% Senior Notes”). The 6.50% Senior Notes were priced at par and bear interest at a rate of 6.50%, payable semi-annually on April 1 and October 1 of each year, beginning on April 1, 2021. The 6.50% Senior Notes mature on October 1, 2028. On March 18, 2021, we issued $400.0 million aggregate principal amount 5.00% Senior Notes, together with the 6.50% Senior Notes (the “Senior Notes”). The 5.00% Senior Notes were priced at par and bear interest at a rate of 5.00% per year, payable semi-annually on April 1 and October 1 of each year, beginning on October 1, 2021. The 5.00% Senior Notes will mature on October 1, 2028. The net proceeds from the issuance of the 5.00% Senior Notes were used to repay $397.0 million of the Term Loans outstanding under the Credit Agreement. The Senior Notes are unsubordinated secured obligations of the Company, secured by a first priority lien on the collateral that secures the Company’s obligations under the Credit Agreement. The Senior Notes are fully and unconditionally guaranteed on a first priority secured basis by the Company and the majority of our wholly-owned subsidiaries. The offering of the Senior Notes has not been registered under the Securities Act of 1933, as amended or any state securities laws. Senior Notes Covenant Compliance Subject to certain exceptions and qualifications, the indenture governing the Senior Notes contains customary covenants that, among other things, limits the Company and its restricted subsidiaries’ ability to: incur additional debt or issue certain preferred stock; pay dividends or make other distributions on capital stock or prepay subordinated indebtedness; purchase or redeem any equity interests; make investments; create liens; sell assets; enter into agreements that restrict dividends or other payments by restricted subsidiaries; consolidate, merge or transfer all or substantially all of its assets; engage in transactions with its affiliates; or enter into any sale and leaseback transactions. The indenture also contains customary events of default. At December 31, 2023, the Company was in compliance with all terms, conditions and covenants under the indenture governing the Senior Notes. Future Maturities of Debt At December 31, 2023, the aggregate maturities of our long-term debt excluding finance leases were as follows: (In thousands) 2024 $ — 2025 — 2026 — 2027 999,875 2028 1,150,000 Thereafter — Total maturities 2,149,875 Less: Unamortized discount (7,017) Carrying value $ 2,142,858 See Note 10 regarding the future maturities of our obligations for finance leases.

DERIVATIVE FINANCIAL INSTRUMENT

DERIVATIVE FINANCIAL INSTRUMENTS	12 Months Ended
DERIVATIVE FINANCIAL INSTRUMENTS	Dec. 31, 2023
DERIVATIVE FINANCIAL INSTRUMENTS
DERIVATIVE FINANCIAL INSTRUMENTS	9. DERIVATIVE FINANCIAL INSTRUMENTS We may utilize interest rate swap agreements to mitigate risk associated with fluctuations in interest rates related to our variable rate debt obligations under the Credit Agreement. Derivative financial instruments are recorded at fair value in our consolidated balance sheets. The following interest rate swaps were outstanding at December 31, 2023: Notional (In thousands) Amount 2023 Balance Sheet Location Fair Value Cash Flow Hedges: Fixed to 1-month floating SOFR $ 500,000 Other long-term liabilities $ (2,421) Our fixed to 1-month floating SOFR interest rate swap agreements, which became effective July 31, 2023, have a fixed rate of 3.941% and mature on September 30, 2026. The following interest rate swaps were outstanding at December 31, 2022: Notional (In thousands) Amount 2022 Balance Sheet Location Fair Value Cash Flow Hedges: Fixed to 1-month floating LIBOR (with floor) $ 500,000 Prepaid expenses and other current assets $ 5,959 The counterparties to our various swaps are highly rated financial institutions. None of the swap agreements provide for either us or the counterparties to post collateral nor do the agreements include any covenants related to the financial condition of Consolidated or the counterparties. The swaps of any counterparty that is a lender, as defined in our credit facility, are secured along with the other creditors under the credit facility. Each of the swap agreements provides that in the event of a bankruptcy filing by either Consolidated or the counterparty, any amounts owed between the two parties would be offset in order to determine the net amount due between parties. At December 31, 2023 and 2022, the total pre-tax unrealized gain (loss) related to our interest rate swap agreements included in AOCI was $(2.4) million and $6.9 million, respectively. From the balance in AOCI as of December 31, 2023, we expect to recognize a gain of approximately $4.3 million in earnings as a reduction to interest expense in the next twelve months. Information regarding our cash flow hedge transactions is as follows: Year Ended December 31, (In thousands) 2023 2022 2021 Unrealized gain recognized in AOCI, pretax $ 626 $ 14,726 $ 1,174 Deferred gain (loss) reclassified from AOCI to interest expense $ 9,997 $ (2,328) $ (13,964)

LEASES

LEASES	12 Months Ended
LEASES	Dec. 31, 2023
LEASES
LEASES	10. LEASES We have entered into various leases for certain facilities, land, underground conduit, colocations, and equipment used in our operations. For leases with a term greater than 12 months, we recognize a right-to-use asset and a lease liability based on the present value of lease payments over the lease term. The leases have remaining lease terms of one year to 85 years and may include one or more options to renew, which can extend the lease term from one As most of our leases do not provide a readily determinable implicit rate, we use our incremental borrowing rate based on the information available at lease commencement date in determining the present value of lease payments. We use the implicit rate when a rate is readily determinable. Our leases may also include scheduled rent increases and options to extend or terminate the lease which is included in the determination of lease payments when it is reasonably certain that we will exercise that option. For all asset classes, we do not separate lease and nonlease components, as such we account for the components as a single lease component. Leases with an initial term of 12 months or less are not recognized on the balance sheet and the expense for these short-term leases is recognized on a straight-line basis over the lease term. Short-term lease expense, which is recognized in cost of services and products, was not material to the consolidated statements of operations for the years ended December 31, 2023, 2022 and 2021. Variable lease payments are expensed as incurred. The following table summarizes the components of our lease right-of use assets and liabilities at December 31, 2023 and 2022: (In thousands) Balance Sheet Classification 2023 2022 Operating leases Operating lease right-of-use assets Other assets $ 29,437 $ 26,548 Current lease liabilities Accrued expense $ (8,256) $ (5,076) Noncurrent lease liabilities Other long-term liabilities $ (23,567) $ (22,249) Finance leases Finance lease right-of-use assets, net of accumulated depreciation of $14,408 and $15,308 Property, plant and equipment, net $ 57,165 $ 42,773 Current lease liabilities Current portion of long-term debt and finance lease obligations $ (18,425) $ (12,834) Noncurrent lease liabilities Long-term debt and finance lease obligations $ (20,815) $ (22,912) Weighted-average remaining lease term Operating leases 6.7 years 7.7 years Finance leases 2.8 years 3.5 years Weighted-average discount rate Operating leases 8.14 % 6.47 % Finance leases 9.30 % 6.60 % The components of lease expense for the years ended December 31, 2023, 2022 and 2021 consisted of the following: Year Ended December 31, (In thousands) 2023 2022 2021 Finance lease cost: Amortization of right-of-use assets $ 5,768 $ 4,804 $ 4,152 Interest on lease liabilities 3,374 1,444 1,106 Operating lease cost 8,017 8,469 8,359 Variable lease cost 1,790 2,167 2,054 Total lease cost $ 18,949 $ 16,884 $ 15,671 The following table presents supplemental cash flow information related to leases for the years ended December 31, 2023, 2022 and 2021: Year Ended December 31, (In thousands) 2023 2022 2021 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows for operating leases $ 7,874 $ 8,003 $ 8,111 Operating cash flows for finance leases 3,374 1,444 1,106 Financing cash flows for finance leases 15,338 9,836 6,365 Right-of-use assets obtained in exchange for new lease liabilities: Operating leases 10,052 9,261 5,673 Finance leases 24,614 20,592 13,888 At December 31, 2023, the aggregate maturities of our lease liabilities were as follows: (In thousands) Operating Leases Finance Leases 2024 $ 10,235 $ 21,217 2025 6,723 15,465 2026 5,050 4,870 2027 4,346 363 2028 3,374 294 Thereafter 11,568 1,886 Total lease payments 41,296 44,095 Less: Interest (9,473) (4,855) $ 31,823 $ 39,240 Lessor We have various arrangements for use of our network assets for which we are the lessor, including tower space, certain colocation, conduit and dark fiber arrangements. These leases meet the criteria for operating lease classification. Lease income associated with these types of leases is not material. Occasionally, we enter into arrangements where the term may be for a major part of the asset’s remaining economic life such as in indefeasible right of use (“IRU”) arrangements for dark fiber or conduit, which meet the criteria for sales-type lease classification. During the years ended December 31, 2023, 2022 and 2021, we entered into IRU arrangements for exclusive access to and unrestricted use of specific assets. These arrangements were recognized as sales-type leases as the term of the arrangements were for a major part of the asset’s remaining economic life. During the year ended December 31, 2022, we recognized revenue We elected the practical expedient to combine lease and non-lease components in our lessor arrangements. We have arrangements where the non-lease component associated with the lease component is the predominant component in the contract, such as in revenue contracts that involve the customer leasing equipment from us. In such cases, we account for the combined component in accordance with ASC 606 as the service component is the predominant component in the contract.

MEZZANINE EQUITY

MEZZANINE EQUITY	12 Months Ended
MEZZANINE EQUITY	Dec. 31, 2023
MEZZANINE EQUITY
MEZZANINE EQUITY	11. MEZZANINE EQUITY Series A Preferred Stock The Company is authorized to issue up to 10,000,000 shares of Preferred Stock with a par value of $0.01 per share. The designated Series A Preferred Stock ranks senior to the Company’s common stock with respect to dividend rights and rights on the distribution of assets on any voluntary or involuntary liquidation, dissolution or winding up of the affairs of the Company and redemption rights. The following is a summary of certain provisions under the Certificate of Designations of the Series A Perpetual Preferred Stock (“Certificate of Designations”). Dividends Dividends on each share of Series A Preferred Stock accrue daily on the liquidation preference at a rate of 9.0% per annum and will be payable semi-annually in arrears on January 1 and July 1 of each year. Subsequent to a waiver issued by Searchlight in November 2022 as described below, dividends are payable until October 2, 2027 at our election, either in cash or in-kind through an accrual of unpaid dividends, which are automatically added to the liquidation preference; and after October 2, 2027, solely in cash. The liquidation preference at the time of issuance is $1,000 per share, as adjusted to include any paid-in-kind dividends. In the event that the Company’s Board of Directors fails to declare and pay dividends in cash after October 2, 2027, among other conditions, the dividend rate applicable to each subsequent dividend period will increase to 11.0%. On November 22, 2022, in connection with entering into the Third Amendment to the Credit Agreement, Searchlight waived for two years, until October 2, 2027, the obligation under the Certificate of Designations to begin paying in cash after October 2, 2025 rather than being permitted to accrue dividends on the Series A Preferred Stock. Any dividend not declared and fully paid in cash during the waiver period or otherwise, will continue to accrue in accordance with the Certificate of Designations and be reflected as additional per share liquidation preference. Redemption Upon a fundamental change such as a change of control, liquidation, dissolution or winding up event, holders of the Series A Preferred Stock will have the right to require the Company to repurchase all or any part of the outstanding Series A Preferred Stock for cash at a price equal the liquidation preference and accrued and unpaid dividends through and including the fundamental change date. The Company may, at its option redeem all or any part of the outstanding shares of Series A Preferred Stock at a purchase price per share in cash equal to the sum of the liquidation preference and accrued and unpaid dividends. A premium may also be payable in connection with any such redemption. Voting Rights Holders of Series A Preferred Stock are entitled to one vote per share on matters specifically related to the Series A Preferred Stock. The holders do not otherwise have any voting rights. If preferred dividends have not been paid in cash in full for two dividend periods after October 2, 2027, whether or not consecutive, then the holders of the Series A Preferred Stock, voting together as a single class, will be entitled to elect two additional directors to the board of directors. On December 7, 2021, upon the completion of the Searchlight investment as described in Note 4, we issued 434,266 shares of Series A Preferred Stock with a carrying value of $285.9 million. In accordance with ASC 480, Distinguishing Liabilities from Equity

SHAREHOLDERS' EQUITY

SHAREHOLDERS' EQUITY	12 Months Ended
SHAREHOLDERS' EQUITY	Dec. 31, 2023
SHAREHOLDERS' EQUITY
SHAREHOLDERS' EQUITY	12. SHAREHOLDERS’ EQUITY Common Stock Dividends On April 25, 2019, we announced the elimination of the payment of quarterly dividends on our stock beginning in the second quarter of 2019. Future dividend payments, if any, are at the discretion of our Board of Directors. Changes in our dividend program will depend on our earnings, capital requirements, financial condition, debt covenant compliance, expected cash needs and other factors considered relevant by our Board of Directors. Share-based Compensation Our Board of Directors (or its Compensation Committee) may grant share-based awards from our shareholder approved Consolidated Communications Holdings, Inc. Long-Term Incentive Plan, as amended and/or restated (the “Plan”). The Plan permits the issuance of awards in the form of stock options, stock appreciation rights, stock grants, and stock unit grants to eligible directors and employees at the discretion of the Compensation Committee of the Board of Directors. On February 26, 2023, our Board of Directors adopted, and on May 1, 2023, the shareholders approved an amendment to the Plan to increase by 5,280,000 shares the number of shares of our common stock authorized for issuance under the Plan. With the amendment, approximately 15,330,000 shares of our common stock are authorized for issuance under the Plan, provided that in any calendar year an eligible employee may be granted no more than 300,000 stock options or 300,000 stock appreciation rights, and a non-employee director may be granted no more than 25,000 stock options or 25,000 stock appreciation rights. In addition, stock awards and stock unit awards granted to an employee in any calendar year may not cover shares having a fair market value on the date of grant that exceeds $6,000,000 ($500,000 in the case of a non-employee director). Unless terminated sooner, the Plan will continue in effect until April 30, 2028. We measure the fair value of RSAs based on the market price of the underlying common stock on the date of grant. We recognize the expense associated with RSAs on a straight-line basis over the requisite service period, which generally ranges from immediate vesting to a four-year vesting period. We implemented an ongoing performance-based incentive program under the Plan. The performance-based incentive program provides for annual grants of PSAs. PSAs are restricted stock that are issued, to the extent earned, at the end of each annual performance cycle. Under the performance-based incentive program, each participant is given a target award expressed as a number of shares, with a payout opportunity ranging from 0% to 150% of the target, depending on performance relative to predetermined goals. An estimate of the number of PSAs that are expected to vest is made, and the fair value of the PSAs is expensed utilizing the fair value on the date of grant over the requisite service period. The awards generally vest ratably over a four-year vesting period. Pursuant to the performance-based incentive program, PSAs issued to certain senior executives entitle the executives to earn shares depending on the level of attainment of the predetermined performance goals over a three-year performance period, with payouts ranging from 0% to 150% of the target for PSAs issued in 2023 and 2022 and from 0% to 120% for PSAs issued in 2021. The earned PSAs are then subject to possible adjustment based on our total shareholder return relative to our peer group over the same performance period, which may increase or decrease the number of shares actually awarded by up to 25%. The following table summarizes grants of RSAs and PSAs under the Plan during the years ended December 31, 2023, 2022 and 2021: Year Ended December 31, Grant Date Grant Date Grant Date 2023 Fair Value 2022 Fair Value 2021 Fair Value RSAs Granted 1,695,071 $ 3.02 1,031,999 $ 4.70 941,748 $ 7.51 PSAs Granted 370,667 $ 5.41 904,435 $ 7.52 788,054 $ 6.31 Total 2,065,738 1,936,434 1,729,802 The following table summarizes the RSA and PSA activity during the year ended December 31, 2023: RSAs PSAs Weighted Weighted Average Grant Average Grant Shares Date Fair Value Shares Date Fair Value Non-vested shares outstanding - December 31, 2022 1,185,980 $ 5.84 1,464,058 $ 7.07 Shares granted 1,695,071 $ 3.02 370,667 $ 5.41 Shares vested (1,114,904) $ 4.44 (922,359) $ 7.40 Shares forfeited, cancelled or retired (274,150) $ 5.33 (221,544) $ 7.61 Non-vested shares outstanding - December 31, 2023 1,491,997 $ 3.78 690,822 $ 7.28 The total fair value of the RSAs and PSAs that vested during the years ended December 31, 2023, 2022 and 2021 was $11.8 million, $8.1 million and $7.3 million, respectively. At December 31, 2023, we had 2.0 million PSAs outstanding with a weighted average grant date fair value of $3.48 for which performance conditions have not yet been deemed met. The PSAs are earned upon the achievement of predetermined goals over the performance periods, which range from one Share-based Compensation Expense The following table summarizes total compensation costs recognized for share-based payments during the years ended December 31, 2023, 2022 and 2021: Year Ended December 31, (In thousands) 2023 2022 2021 Restricted stock $ 4,506 $ 5,296 $ 5,478 Performance shares 3,107 5,459 4,619 Total $ 7,613 $ 10,755 $ 10,097 Income tax benefits related to share-based compensation of approximately $2.0 million, $2.8 million and $2.6 million were recorded for the years ended December 31, 2023, 2022 and 2021, respectively. Share-based compensation expense is included in “selling, general and administrative expenses” in the accompanying consolidated statements of operations. As of December 31, 2023, total unrecognized compensation cost related to non-vested RSAs and PSAs was $10.4 million and will be recognized over a weighted-average period of approximately 1.6 years. Accumulated Other Comprehensive Income (Loss) The following table summarizes the changes in accumulated other comprehensive income (loss), net of tax, by component during 2023 and 2022: Pension and Post-Retirement Derivative (In thousands) Obligations Instruments Total Balance at December 31, 2021 $ (52,099) $ (7,472) $ (59,571) Other comprehensive gain before reclassifications 47,123 10,879 58,002 Amounts reclassified from accumulated other comprehensive loss (762) 1,721 959 Net current period other comprehensive income (loss) 46,361 12,600 58,961 Balance at December 31, 2022 $ (5,738) $ 5,128 $ (610) Other comprehensive gain (loss) before reclassifications (14,664) 462 (14,202) Amounts reclassified from accumulated other comprehensive loss 318 (7,378) (7,060) Net current period other comprehensive income (14,346) (6,916) (21,262) Balance at December 31, 2023 $ (20,084) $ (1,788) $ (21,872) The following table summarizes reclassifications from accumulated other comprehensive loss during 2023 and 2022: Year Ended December 31, Affected Line Item in the (In thousands) 2023 2022 Statement of Operations Amortization of pension and post-retirement items: Prior service credit $ 529 $ 777 (a) Actuarial gain 5,447 254 (a) Settlement loss (6,402) — (a) (426) 1,031 Total before tax 108 (269) Tax (expense) benefit $ (318) $ 762 Net of tax Gain (loss) on cash flow hedges: Interest rate derivatives $ 9,997 $ (2,328) Interest expense (2,619) 607 Tax (expense) benefit $ 7,378 $ (1,721) Net of tax (a) These items are included in the components of net periodic benefit cost for our pension and post-retirement benefit plans. See Note 13 for additional details.

PENSION PLAN AND OTHER POST-RET

PENSION PLAN AND OTHER POST-RETIREMENT BENEFITS	12 Months Ended
PENSION PLAN AND OTHER POST-RETIREMENT BENEFITS	Dec. 31, 2023
PENSION PLAN AND OTHER POST-RETIREMENT BENEFITS
PENSION PLAN AND OTHER POST-RETIREMENT BENEFITS	13. PENSION PLANS AND OTHER POST-RETIREMENT BENEFITS Defined Benefit Plans We sponsor three qualified defined benefit pension plans that are non-contributory covering substantially all of our hourly employees under collective bargaining agreements who fulfill minimum age and service requirements and certain salaried employees. The defined benefit pension plans are closed to all new entrants. All of our defined benefit pension plans are now frozen to all current employees and no additional monthly pension benefits will accrue under those plans. We also have two non-qualified supplemental retirement plans (the “Supplemental Plans” and, together with the defined benefit pension plans, the “Pension Plans”). The Supplemental Plans provide supplemental retirement benefits to certain former employees by providing for incremental pension payments to partially offset the reduction of the amount that would have been payable under the qualified defined benefit pension plans if it were not for limitations imposed by federal income tax regulations. The Supplemental Plans are frozen so that no person is eligible to become a new participant. These plans are unfunded and have no assets. The benefits paid under the Supplemental Plans are paid from the general operating funds of the Company. The following tables summarize the change in benefit obligation, plan assets and funded status of the Pension Plans as of December 31, 2023 and 2022: (In thousands) 2023 2022 Change in benefit obligation Benefit obligation at the beginning of the year $ 538,968 $ 744,463 Interest cost 29,150 22,273 Actuarial loss (gain) 16,254 (197,697) Benefits paid (27,927) (30,071) Plan settlement (41,643) — Benefit obligation at the end of the year $ 514,802 $ 538,968 (In thousands) 2023 2022 Change in plan assets Fair value of plan assets at the beginning of the year $ 464,757 $ 617,540 Employer contributions 255 10,055 Actual return on plan assets 29,363 (132,767) Benefits paid (27,927) (30,071) Plan settlement (41,643) — Fair value of plan assets at the end of the year $ 424,805 $ 464,757 Funded status at year end $ (89,997) $ (74,211) In the year ended December 31, 2023, the actuarial loss on the benefit obligation was primarily due to a decrease in the discount rate. In the year ended December 31, 2022, the actuarial gain on the benefit obligation was primarily due to an increase in the discount rate. Amounts recognized in the consolidated balance sheets at December 31, 2023 and 2022 consisted of: (In thousands) 2023 2022 Current liabilities $ (235) $ (236) Long-term liabilities $ (89,762) $ (73,975) Amounts recognized in accumulated other comprehensive loss for the years ended December 31, 2023 and 2022 consisted of: (In thousands) 2023 2022 Unamortized prior service cost $ 563 $ 685 Unamortized net actuarial loss 72,432 61,193 $ 72,995 $ 61,878 The following table summarizes the components of net periodic pension cost (benefit) recognized in the consolidated statements of operations for the plans for the years ended December 31, 2023, 2022 and 2021: (In thousands) 2023 2022 2021 Interest cost $ 29,150 $ 22,273 $ 22,758 Expected return on plan assets (31,023) (36,535) (36,997) Amortization of: Net actuarial loss 273 730 2,309 Prior service cost 122 123 122 Plan settlement 6,402 — 5,864 Net periodic pension cost (benefit) $ 4,924 $ (13,409) $ (5,944) The components of net periodic pension cost (benefit) are included in other, net within other income (expense) in the consolidated statements of operations. In 2023 and 2021, we purchased a group annuity contract to transfer the pension benefit obligations and annuity administration for a select group of retirees or their beneficiaries to an annuity provider. Upon issuance of the group annuity contract, the pension benefit obligation of $41.6 million for approximately 320 participants was irrevocably transferred to the annuity provider in 2023. In 2021, the pension benefit obligation of $47.1 million for approximately 400 participants was irrevocably transferred to the annuity provider. The purchase of the group annuity contracts was funded directly by the assets of the Pension Plans. During the years ended December 31, 2023 and 2021, we recognized a pension settlement charge of $6.4 million and $5.9 million, respectively, as a result of the transfer of the pension liability to the annuity provider and other lump sum payments made during the year. The following table summarizes other changes in plan assets and benefit obligations recognized in other comprehensive loss, before tax effects, during 2023 and 2022: (In thousands) 2023 2022 Actuarial loss (gain), net $ 17,914 $ (28,395) Recognized actuarial loss (273) (730) Recognized prior service cost (122) (123) Plan settlement (6,402) — Total amount recognized in other comprehensive loss, before tax effects $ 11,117 $ (29,248) The weighted-average assumptions used to determine the projected benefit obligations and net periodic benefit cost for the years ended December 31, 2023, 2022 and 2021 were as follows: 2023 2022 2021 Discount rate - net periodic benefit cost 5.65 % 3.05 % 2.81 % Discount rate - benefit obligation 5.34 % 5.63 % 3.05 % Expected long-term rate of return on plan assets 7.00 % 6.00 % 6.00 % Rate of compensation/salary increase N/A N/A N/A % Interest crediting rate for cash balance plans 4.75 % 4.00 % 2.00 % Other Non-Qualified Deferred Compensation Agreements We also are liable for deferred compensation agreements with former members of the board of directors and certain other former employees of acquired companies. Depending on the plan, benefits are payable in monthly or annual installments for a period of time based on the terms of the agreement which range from five years up to the life of the participant or to the beneficiary upon death of the participant and may begin as early as age 55. Participants accrue no new benefits as these plans had previously been frozen. Payments related to the deferred compensation agreements totaled approximately $0.1 million and $0.2 million for the years ended December 31, 2023 and 2022, respectively. The net present value of the remaining obligations was approximately $0.4 million and $0.5 million at December 31, 2023 and 2022, respectively, and is included in pension and post-retirement benefit obligations in the accompanying balance sheets. We also maintain 22 life insurance policies on certain of the participating former directors and employees. We did not recognize any life insurance proceeds in 2023 and 2022. The excess of the cash surrender value of the remaining life insurance policies over the notes payable balances related to these policies is determined by an independent consultant, and totaled $2.9 million and $2.8 million at December 31, 2023 and 2022, respectively. These amounts are included in investments in the accompanying consolidated balance sheets. Cash principal payments for the policies and any proceeds from the policies are classified as operating activities in the consolidated statements of cash flows. The aggregate death benefit payment payable under these policies totaled $6.4 million and $6.3 million as of December 31, 2023 and 2022, respectively. Post-retirement Benefit Obligations We sponsor various healthcare and life insurance plans (“Post-retirement Plans”) that provide post-retirement medical and life insurance benefits to certain groups of retired employees. Certain plans are frozen so that no person is eligible to become a new participant. Retirees share in the cost of healthcare benefits, making contributions that are adjusted periodically—either based upon collective bargaining agreements or because total costs of the program have changed. Covered expenses for retiree health benefits are paid as they are incurred. Post-retirement life insurance benefits are fully insured. A majority of the healthcare plans are unfunded and have no assets, and benefits are paid from the general operating funds of the Company. However, a certain healthcare plan is funded by assets that are separately designated within the Pension Plans for the sole purpose of providing payments of retiree medical benefits for this specific plan. The following tables summarize the change in benefit obligation, plan assets and funded status of the post-retirement benefit obligations as of December 31, 2023 and 2022: (In thousands) 2023 2022 Change in benefit obligation Benefit obligation at the beginning of the year $ 56,223 $ 96,434 Service cost 65 658 Interest cost 2,939 2,593 Plan participant contributions 80 447 Actuarial loss (gain) 2,708 (36,567) Benefits paid (7,021) (7,342) Plan amendments (815) — Benefit obligation at the end of the year $ 54,179 $ 56,223 (In thousands) 2023 2022 Change in plan assets Fair value of plan assets at the beginning of the year $ 2,693 $ 3,546 Employer contributions 6,941 6,894 Plan participant’s contributions 80 447 Actual return on plan assets 110 (852) Benefits paid (7,021) (7,342) Fair value of plan assets at the end of the year $ 2,803 $ 2,693 Funded status at year end $ (51,376) $ (53,530) In the year ended December 31, 2023, the actuarial loss on the benefit obligation was primarily due to a decrease in the discount rate and changes to the demographic experience. In the year ended December 31, 2022, the actuarial gain on the benefit obligation was primarily due to the underwriting gain and an increase in the discount rate. Amounts recognized in the consolidated balance sheets at December 31, 2023 and 2022 consist of: (In thousands) 2023 2022 Current liabilities $ (3,933) $ (4,328) Long-term liabilities $ (47,443) $ (49,202) Amounts recognized in accumulated other comprehensive loss for the years ended December 31, 2023 and 2022 consist of: (In thousands) 2023 2022 Unamortized prior service credit $ (2,129) $ (1,965) Unamortized net actuarial gain (30,597) (39,103) $ (32,726) $ (41,068) The following table summarizes the components of the net periodic costs for post-retirement benefits for the years ended December 31, 2023, 2022 and 2021: (In thousands) 2023 2022 2021 Service cost $ 65 $ 658 $ 649 Interest cost 2,939 2,593 2,579 Expected return on plan assets (188) (213) (200) Amortization of: Net actuarial gain (5,720) (984) — Prior service credit (651) (900) (901) Net periodic postretirement benefit cost $ (3,555) $ 1,154 $ 2,127 The components of net periodic post-retirement benefit cost other than the service cost component are included in other, net within other income (expense) in the consolidated statements of operations. The following table summarizes other changes in plan assets and benefit obligations recognized in other comprehensive loss, before tax effects, during 2023 and 2022: (In thousands) 2023 2022 Actuarial loss (gain), net $ 2,786 $ (35,502) Recognized actuarial gain 5,720 984 Prior service credit (815) — Recognized prior service credit 651 900 Total amount recognized in other comprehensive loss, before tax effects $ 8,342 $ (33,618) The weighted-average assumptions used to determine the projected benefit obligations and net periodic benefit cost for the years ended December 31, 2023, 2022 and 2021 were as follows: 2023 2022 2021 Discount rate - net periodic benefit cost 5.64 % 2.94 % 2.57 % Discount rate - benefit obligation 5.40 % 5.64 % 2.93 % Rate of compensation/salary increase 2.50 % 2.50 % 2.50 % For purposes of determining the cost and obligation for post-retirement medical benefits, a 6.50% healthcare cost trend rate was assumed for the plan in 2023, declining to the ultimate trend rate of 5.00% in 2030. Plan Assets Our investment strategy is designed to provide a stable environment to earn a rate of return over time to satisfy the benefit obligations and minimize the reliance on contributions as a source of benefit security. The objectives are based on a long-term ( 5 The asset return objective is to achieve, as a minimum over time, the passively managed return earned by managed index funds, weighted in the proportions outlined by the asset class exposures identified in the pension plan’s strategic allocation. We update our long-term, strategic asset allocations every few years to ensure they are in line with our fund objectives. At December 31, 2023, the target allocation of the Pension Plan assets is approximately 70 - 90% in return seeking assets consisting primarily of equity and fixed income funds with the remainder in hedge funds. Our investment policy allows the use of derivative instruments when appropriate to reduce anticipated asset volatility or to gain desired exposure to various markets and return drivers. Currently, we believe that there are no significant concentrations of risk associated with the Pension Plan assets. The following is a description of the valuation methodologies for assets measured at fair value utilizing the fair value hierarchy discussed in Note 1, which prioritizes the inputs used in the valuation methodologies in measuring fair value. The fair value measurements used to value our plan assets as of December 31, 2023 were generated by using market transactions involving identical or comparable assets. There were no changes in the valuation techniques used during 2023. Common Stock: Common Collective Trusts and Commingled Funds: The fair values of our assets for our defined benefit pension plans at December 31, 2023 and 2022, by asset category were as follows: As of December 31, 2023 Quoted Prices Significant In Active Other Significant Markets for Observable Unobservable Identical Assets Inputs Inputs (In thousands) Total (Level 1) (Level 2) (Level 3) Cash and cash equivalents $ 5 $ 5 $ — $ — Equities: Stocks: U.S. common stocks 21 21 — — International stocks 2 2 — — Total plan assets in the fair value hierarchy 28 $ 28 $ — $ — Common Collective Trusts measured at NAV: (1) Short-term investments (2) 5,644 Equities: Global 150,377 Real estate 74,453 Fixed Income 142,221 Hedge Funds 52,082 Total plan assets $ 424,805 As of December 31, 2022 Quoted Prices Significant In Active Other Significant Markets for Observable Unobservable Identical Assets Inputs Inputs (In thousands) Total (Level 1) (Level 2) (Level 3) Cash and cash equivalents $ 38 $ 38 $ — $ — Equities: Stocks: U.S. common stocks 21 21 — — International stocks 2 2 — — Total plan assets in the fair value hierarchy 61 $ 61 $ — $ — Common Collective Trusts measured at NAV: (1) Short-term investments (2) 4,739 Equities: Global 154,626 Real estate 96,641 Fixed Income 137,174 Hedge Funds 71,519 Other liabilities (3) (3) Total plan assets $ 464,757 (1) Certain investments that are measured at fair value using NAV per share as a practical expedient have not been categorized in the fair value hierarchy. The fair value amounts presented in these tables are intended to permit reconciliation of the fair value hierarchy to the total plan assets. (2) Short-term investments include an investment in a common collective trust which is principally comprised of certificates of deposit, commercial paper, U.S. government obligations and variable rate securities with maturities less than one year. (3) Other liabilities include net amount due from pending securities purchased and sold. The fair values of our assets for our post-retirement benefit plans at December 31, 2023 and 2022 were as follows: As of December 31, (In thousands) 2023 Common Collective Trusts measured at NAV: (1) Short-term investments (2) $ 38 Equities: Global 1,023 Real estate 506 Fixed Income 968 Hedge Funds 355 Total plan assets 2,890 Benefit payments payable (87) Net plan assets $ 2,803 As of December 31, 2022 Quoted Prices Significant In Active Other Significant Markets for Observable Unobservable Identical Assets Inputs Inputs (In thousands) Total (Level 1) (Level 2) (Level 3) Cash and cash equivalents $ 1 $ 1 $ — $ — Common Collective Trusts measured at NAV: (1) Short-term investments (2) 28 Equities: Global 917 Real estate 573 Fixed Income 814 Hedge Funds 425 Total plan assets 2,758 Benefit payments payable (65) Net plan assets $ 2,693 (1) Certain investments that are measured at fair value using NAV per share as a practical expedient have not been categorized in the fair value hierarchy. The fair value amounts presented in these tables are intended to permit reconciliation of the fair value hierarchy to the total plan assets. (2) Short-term investments include investment in a common collective trust which is principally comprised of certificates of deposit, commercial paper and U.S. government obligations with maturities less than one year. Cash Flows Contributions Our funding policy is to contribute annually an actuarially determined amount necessary to meet the minimum funding requirements as set forth in employee benefit and tax laws. We elected to participate in ARPA beginning with the 2021 plan year. ARPA, which was signed into law in March 2021, included changes to the employer funding requirements and is designed to reduce the amounts of required contributions to provide funding relief for employers. During 2021 and the six months ended June 30, 2022, we elected to fund our pension contributions at the pre-ARPA levels, which has created a pre-funded balance. We intend to use our current pre-funded balance to satisfy the minimum contribution requirements until the balance is exhausted, which is expected to occur in late 2024. In 2023, no pension contributions were required under the ARPA minimum required contributions. We expect to contribute between approximately $0.2 million to $0.5 million to our Pension Plans and $5.7 million to our other post-retirement plans in 2024. Estimated Future Benefit Payments As of December 31, 2023, benefit payments expected to be paid over the next ten years are outlined in the following table: Other Pension Post-retirement (In thousands) Plans Plans 2024 $ 31,195 $ 5,673 2025 32,150 5,074 2026 33,082 4,667 2027 34,063 4,347 2028 34,876 4,064 2029 - 2033 177,516 18,648 Defined Contribution Plans We offer defined contribution 401(k) plans to substantially all of our employees. Contributions made under the defined contribution plans include a match, at the Company’s discretion, of employee contributions to the plans. We recognized expense with respect to these plans of $16.3 million, $15.8 million and $15.6 million in 2023, 2022 and 2021, respectively.

INCOME TAXES

INCOME TAXES	12 Months Ended
INCOME TAXES	Dec. 31, 2023
INCOME TAXES
INCOME TAXES	14. INCOME TAXES Income tax expense (benefit) consists of the following components: For the Year Ended (In thousands) 2023 2022 2021 Current: Federal $ 303 $ 199 $ 305 State 4,182 830 470 Total current expense 4,485 1,029 775 Deferred: Federal (46,740) (20,983) (3,921) State (9,352) (7,104) 14 Total deferred expense (benefit) (56,092) (28,087) (3,907) Total income tax expense (benefit) $ (51,607) $ (27,058) $ (3,132) The following is a reconciliation of the federal statutory tax rate to the effective tax rate for the years ended December 31, 2023, 2022 and 2021: For the Year Ended (In percentages) 2023 2022 2021 Statutory federal income tax rate 21.0 % 21.0 % 21.0 % State income taxes, net of federal benefit 5.1 5.3 4.7 Searchlight investment — — (23.3) Other permanent differences (0.5) (0.7) (0.4) Change in deferred tax rate — 1.5 0.2 Valuation allowance (0.7) (0.3) (1.2) Provision to return (1.2) 0.1 1.9 Non deductible goodwill (6.8) (13.4) (1.0) Other 0.2 (0.3) 0.3 17.1 % 13.2 % 2.2 % Deferred Taxes The components of the net deferred tax liability are as follows: Year Ended December 31, (In thousands) 2023 2022 Non-current deferred tax assets: Reserve for uncollectible accounts $ 3,558 $ 3,032 Accrued vacation pay deducted when paid 4,350 4,501 Accrued expenses and deferred revenue 12,456 15,458 Net operating loss carryforwards 124,282 71,576 Excess interest carryforward 58,954 19,580 Pension and postretirement obligations 37,619 34,083 Share-based compensation 1,737 2,347 Derivative instruments 634 (1,815) Tax credit carryforwards 1,010 4,282 244,600 153,044 Valuation allowance (7,805) (8,379) Net non-current deferred tax assets 236,795 144,665 Non-current deferred tax liabilities: Goodwill and other intangibles (27,316) (36,384) Partnership investments 270 271 Property, plant and equipment (416,491) (377,886) Financing costs (3,895) (4,976) Other (11) 1 (447,443) (418,974) Net non-current deferred taxes $ (210,648) $ (274,309) As a result of the Washington transaction in 2023 and the Kansas City and Ohio transactions in 2022, we recorded an increase of $20.3 million and $27.4 million to our current tax expense in 2023 and 2022, respectively, related to the write-down of noncash goodwill included in the transactions that is not deductible for tax purposes. In connection to the sale of our five limited wireless partnership interests to Cellco in 2022, we recognized a taxable gain of approximately $479.9 million. For federal income tax purposes, we utilized our available net operating loss carry forwards to offset our 2022 taxable income, which was inclusive of the taxable gain. For state income tax purposes, state tax liabilities were approximately $11.2 million. The financial results of the limited partnership interests have been classified as discontinued operations in our consolidated financial statements for all prior periods presented. Refer to Note 6 for additional information on the transaction and the partnership interests. The investment made by Searchlight in 2020 is treated as a contribution of equity for federal tax purposes. Accordingly, the impact of the non-cash PIK interest expense, discount and issuance costs, and fair value adjustments on the CPR are not recognized for federal income tax purposes, resulting in an increase of $33.1 million to our current tax expense for 2021. Deferred income taxes are provided for the temporary differences between assets and liabilities recognized for financial reporting purposes and assets and liabilities recognized for tax purposes. The ultimate realization of deferred tax assets depends upon taxable income during the future periods in which those temporary differences become deductible. To determine whether deferred tax assets can be realized, management assesses whether it is more likely than not that some portion or all of the deferred tax assets will not be realized, taking into consideration the scheduled reversal of deferred tax liabilities, projected future taxable income and tax-planning strategies. Consolidated and its wholly owned subsidiaries, which file a consolidated federal income tax return, estimates it has available federal NOL carryforwards as of December 31, 2023 of $521.7 million and related deferred tax assets of $109.6 million. The federal NOL carryforwards for tax years beginning after December 31, 2017 of $381.6 million and related deferred tax assets of $80.1 million can be carried forward indefinitely. The federal NOL carryforwards for the tax years prior to December 31, 2017 of $140.0 million and related deferred tax assets of $29.4 million expire in 2030 to 2035. ETFL, a nonconsolidated subsidiary for federal income tax return purposes, estimates it has available NOL carryforwards as of December 31, 2023 of $0.2 million and related deferred tax assets of less than $0.1 million. ETFL’s federal NOL carryforwards are for the tax years prior to December 31, 2017 and expire in 2024. We estimate that we have available state NOL carryforwards as of December 31, 2023 of $534.3 million and related deferred tax assets of $19.3 million. The state NOL carryforwards expire from 2024 to 2043. Management believes that it is more likely than not that we will not be able to realize state NOL carryforwards of $112.8 million and related deferred tax asset of $7.8 million and has placed a valuation allowance on this amount. The related NOL carryforwards expire from 2024 to 2043. If or when recognized, the tax benefits related to any reversal of the valuation allowance will be accounted for as a reduction of income tax expense. We estimate that we have available state tax credit carryforwards as of December 31, 2023 of $1.3 million and related deferred tax assets of $1.0 million. The state tax credit carryforwards are limited annually and expire from 2027 to 2033. Unrecognized Tax Benefits Under the accounting guidance applicable to uncertainty in income taxes, we have analyzed filing positions in all of the federal and state jurisdictions where we are required to file income tax returns as well as all open tax years in these jurisdictions. Our unrecognized tax benefits as of December 31, 2023 and 2022 were $4.9 million. There were no material effects on the Company’s effective tax rate. The net amount of unrecognized benefits that, if recognized, would result in an impact to the effective rate is $4.7 million for each of the years ended December 31, 2023 and 2022. Our practice is to recognize interest and penalties related to income tax matters in interest expense and selling, general and administrative expenses, respectively. As of December 31, 2023 and 2022, we did not have a material liability for interest or penalties and had no material interest or penalty expense. The periods subject to examination for our federal return are years 2020 through 2022. The periods subject to examination for our state returns are years 2019 through 2022. In addition, prior tax years may be subject to examination by federal or state taxing authorities if the Company’s NOL carryovers from those prior years are utilized in the future. We are currently under examination by state taxing authorities. We do not expect any settlement or payment that may result from the examination to have a material effect on our results or cash flows. We do not expect that the total unrecognized tax benefits and related accrued interest will significantly change due to the settlement of audits or the expiration of statute of limitations in the next twelve months. There were no material effects on the Company’s effective tax rate.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
COMMITMENTS AND CONTINGENCIES	Dec. 31, 2023
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES	15. COMMITMENTS AND CONTINGENCIES We have certain obligations for various contractual agreements to secure future rights to goods and services to be used in the normal course of our operations. These include purchase commitments for planned capital expenditures, agreements securing dedicated access and transport services, and service and support agreements. As of December 31, 2023, future minimum contractual obligations and the estimated timing and effect the obligations will have on our liquidity and cash flows in future periods are as follows: Minimum Annual Contractual Obligations (in thousands) 2024 2025 2026 2027 2028 Thereafter Total Service and support agreements (1) $ 18,559 $ 12,525 $ 2,713 $ 812 $ 820 $ 505 $ 35,934 Transport and data connectivity 7,388 1,950 1,835 1,846 1,828 34 14,881 Capital expenditures (2) 26,745 — — — — — 26,745 Other operating agreements (3) 2,984 1,808 1,278 654 620 1,717 9,061 Total $ 55,676 $ 16,283 $ 5,826 $ 3,312 $ 3,268 $ 2,256 $ 86,621 (1) We have entered into service and maintenance agreements to support various computer hardware and software applications and certain equipment. (2) We have binding commitments with numerous suppliers for future capital expenditures. (3) We have entered into various non-cancelable rental agreements for certain facilities and equipment used in our operations. Litigation, Regulatory Proceedings and Other Contingencies From time to time we may be involved in litigation that we believe is of the type common to companies in our industry, including regulatory issues. While the outcome of the claims described below cannot be predicted with certainty, we do not believe that the outcome of any of these legal matters will have a material adverse impact on our financial statements Gross Receipts Tax Two of our subsidiaries, Consolidated Communications of Pennsylvania Company LLC (“CCPA”) and Consolidated Communications Enterprise Services Inc. (“CCES”), have, at various times, received Assessment Notices and/or Audit Assessment Notices from the Commonwealth of Pennsylvania Department of Revenue (“DOR”) increasing the amounts owed for the Pennsylvania Gross Receipts Tax, and have had audits performed for the tax years 2008 through 2018 (CCPA and CCES) and 2019 through 2020 (CCPA). We filed Petitions for Reassessment with the DOR’s Board of Appeals contesting these audit assessments. These cases remain pending and are in various stages of appeal. In May 2017, we entered into an agreement to guarantee any potential liabilities to the DOR up to $5.0 million. Tax liabilities calculated by the DOR for CCPA and CCES for tax years 2010 (CCPA) and 2014 through 2022 (CCPA and CCES) are approximately $5.3 million and $2.6 million, respectively. Based on the initial settlement offers for the tax years 2008 through 2013, which were subsequently settled in 2019 for $2.1 million, including interest, and the Company’s best estimate of the potential additional tax liabilities for the remaining unsettled tax years 2010 (CCPA) and 2014 through 2022 (CCPA and CCES), we have reserved $0.9 million and $2.3 million, including interest, for our CCPA and CCES subsidiaries, respectively. We expect the filings for the tax years 2014 through 2022 to be settled at a later date similar to the initial settlement. While we continue to believe a settlement of all remaining disputed claims is possible, we cannot anticipate at this time what the ultimate resolution of these cases will be, nor can we evaluate the likelihood of a favorable or unfavorable outcome or the potential losses (or gains) should such an outcome occur. Pole Sale On December 30, 2020, the Company reached an agreement to sell to Public Service Company of New Hampshire d/b/a Eversource Energy (“Eversource”) its joint ownership interest in approximately 343,000 poles and its sole ownership interest in approximately 3,800 poles located in the Eversource electric service area. The agreement also included the settlement of all vegetation maintenance costs disputed between the Company and Eversource through December 2020. The Company recognized a net loss of $1.9 million during the quarter ended December 31, 2020 associated with the execution of this agreement. Upon the closing of the sale, the Company would become a tenant on the poles and pay pole attachment fees to Eversource. The Company would also no longer have any future obligations associated with vegetation maintenance. The purchase and sale transaction required regulatory approval by the New Hampshire Public Utilities Commission (“NHPUC”) and was submitted for approval by the parties in 2021. Formal hearings on the transaction concluded in May 2022. The NHPUC issued its order on November 18, 2022. The New England Cable and Telecommunications Alliance filed a motion for reconsideration and both parties filed a motion for clarification. During the quarter ended December 31, 2022, the Company recorded an additional loss on the proposed sale of $8.3 million as a result of the November 18, 2022 NHPUC order which included certain adjustments to components of the purchase price and expense allocations between Eversource and the Company. The Company also increased its estimated closing costs necessary to complete the sale. The sale of the poles closed on May 1, 2023. During the year ended December 31, 2023, we recognized an additional loss on the sale of $4.2 million.

QUARTERLY FINANCIAL INFORMATION

QUARTERLY FINANCIAL INFORMATION (UNAUDITED)	12 Months Ended
QUARTERLY FINANCIAL INFORMATION (UNAUDITED)	Dec. 31, 2023
QUARTERLY FINANCIAL INFORMATION (UNAUDITED)
QUARTERLY FINANCIAL INFORMATION (UNAUDITED)	16. QUARTERLY FINANCIAL INFORMATION (UNAUDITED) Quarter Ended 2023 March 31, June 30, September 30, December 31, (In thousands, except per share amounts) Net revenues $ 276,126 $ 275,162 $ 283,654 $ 275,178 Operating loss $ (18,099) $ (95,047) $ (31,878) $ (13,154) Loss from continuing operations $ (36,961) $ (108,092) $ (57,720) $ (47,285) Discontinued operations, net of tax $ — $ — $ — $ — Net loss attributable to common stockholders $ (47,691) $ (118,957) $ (69,162) $ (58,614) Basic and diluted earnings (loss) per common share: Loss from continuing operations $ (0.42) $ (1.05) $ (0.61) $ (0.52) Income from discontinued operations — — — — Net loss per common share attributable to common shareholders - basic and diluted $ (0.42) $ (1.05) $ (0.61) $ (0.52) Quarter Ended 2022 March 31, June 30, September 30, December 31, (In thousands, except per share amounts) Net revenues $ 300,278 $ 298,390 $ 296,619 $ 295,976 Operating income (loss) $ (107,742) $ 14,449 $ 20,852 $ (20,721) Loss from continuing operations $ (119,096) $ (10,591) $ (7,257) $ (40,760) Discontinued operations, net of tax $ 3,547 $ 9,079 $ 299,934 $ 5,793 Net income (loss) attributable to common stockholders $ (125,262) $ (11,517) $ 282,250 $ (45,490) Basic and diluted earnings (loss) per common share: Income (loss) from continuing operations $ (1.15) $ (0.18) $ (0.15) $ (0.46) Income from discontinued operations 0.03 0.08 2.60 0.05 Net income (loss) per common share attributable to common shareholders - basic and diluted $ (1.12) $ (0.10) $ 2.45 $ (0.41) During the quarter ended December 31, 2023, we purchased a group annuity contract to transfer the pension benefit obligations and annuity administration for a select group of retirees or their beneficiaries to an annuity provider. As a result of the transfer of the pension liability to the annuity provider, we recognized a non-cash pension settlement charge of $6.4 million during the quarter ended December 31, 2023. In connection with the merger agreement entered into with Searchlight in October 2023, we incurred transaction costs, consisting of legal and professional fees, of $11.8 million during the quarter ended December 31, 2023. In connection with the sale of the Kansas City operations, as discussed in Note 5, we recognized a gain on the sale of $3.1 million and a loss on the sale of $16.8 million during the quarters ended December 31, 2023 and December 31, 2022, respectively, as a result of purchase price adjustments and changes in working capital and estimated selling costs during the periods. As discussed in Note 15, we recognized a loss of $8.3 million related to the proposed sale of certain utility poles during the quarter ended December 31, 2022.

BUSINESS DESCRIPTION & SUMMAR_2

BUSINESS DESCRIPTION & SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2023
BUSINESS DESCRIPTION & SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Business and Basis of Accounting	Business and Basis of Accounting Consolidated Communications Holdings, Inc. (the “Company,” “we,” “our” or “us”) is a holding company with operating subsidiaries (collectively “Consolidated”) that provide communication solutions to consumer, commercial and carrier customers across a service area in over 20 states. Leveraging our advanced fiber network spanning approximately 60,000 fiber route miles, we offer residential high-speed Internet, video, phone and home security services as well as a comprehensive business product suite including: data and Internet solutions, voice, data center services, security services, managed and IT services, and an expanded suite of cloud services.
Use of Estimates	Use of Estimates Preparation of the financial statements in conformity with accounting principles generally accepted in the United States and pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”) requires management to make estimates and assumptions that effect the reported amounts of assets and liabilities as of the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results may differ materially from those estimates. Our critical accounting estimates include (i) impairment evaluations associated with indefinite-lived intangible assets (Note 1), (ii) the determination of deferred tax asset and liability balances (Notes 1 and 14) and (iii) pension plan and other post-retirement costs and obligations (Notes 1 and 13).
Principles of Consolidation	Principles of Consolidation Our consolidated financial statements include the accounts of the Company and our wholly-owned subsidiaries and subsidiaries in which we have a controlling financial interest. All significant intercompany transactions have been eliminated.
Recent Business Developments	Recent Business Developments Merger Agreement On October 15, 2023, we entered into an Agreement and Plan of Merger (the “Merger Agreement”) with Condor Holdings LLC, a Delaware limited liability company (“Parent”) affiliated with certain funds managed by affiliates of Searchlight Capital Partners, L.P. (“Searchlight”), and Condor Merger Sub Inc., a Delaware corporation and a wholly owned subsidiary of Parent (“Merger Sub”), pursuant to which, subject to the terms and conditions thereof, Merger Sub will merge with and into the Company (the “Merger”) with the Company continuing as the surviving corporation and a wholly owned subsidiary of an affiliate of Searchlight. British Columbia Investment Management Corporation (“BCI”) and certain affiliates of Searchlight have committed to provide equity financing to Parent to fund the transactions contemplated by the Merger Agreement. Searchlight is the beneficial owner of approximately 34% of the Company’s outstanding shares of common stock as of December 31, 2023 and is the holder of 100% of the Company’s outstanding Series A perpetual preferred stock. Refer to Note 4 for a more complete discussion of the strategic investment with Searchlight. Subject to the terms and conditions set forth in the Merger Agreement, upon the consummation of the Merger, each share of the Company’s common stock, par value $0.01 per share (other than shares of the Company’s common stock (i) held directly or indirectly by Parent, Merger Sub or any subsidiary of the Company, (ii) held by the Company as treasury shares or (iii) held by any person who properly exercises appraisal rights under Delaware law) will be converted into the right to receive an amount in cash equal to $4.70 per share, without interest (the “Merger Consideration”), subject to any withholding of taxes required by applicable law. In addition, pursuant to the Merger Agreement, upon the consummation of the Merger, (i) Company restricted share awards (“Company RSAs”) held by non-employee directors or by certain affiliates of Searchlight will vest and be canceled in exchange for the Merger Consideration and (ii) all other Company RSAs will be converted into restricted cash awards based on the Merger Consideration and subject to the same terms and conditions, including time- and performance-based vesting conditions, as the corresponding Company RSA (except that the relative total shareholder return modifier shall be deemed to be achieved at the target level). The Merger Agreement has, unanimously by the directors present, been approved by the board of directors of the Company (the “Board”), acting upon the unanimous recommendation of a special committee consisting of only independent and disinterested directors of the Company (the “Special Committee”). On January 31, 2024, the Company held a virtual special meeting of stockholders (the “Special Meeting”) to consider three proposals with respect to the Merger Agreement. The first proposal, to adopt the Merger Agreement, was approved by (i) holders of a majority of the voting power represented by the issued and outstanding shares of our common stock that were entitled to vote thereon and (ii) holders of a majority of the voting power represented by the issued and outstanding shares of our common stock that were entitled to vote thereon and held by Unaffiliated Stockholders (as defined in the Merger Agreement). The second proposal, to approve by advisory (non-binding) vote the compensation that may be paid or become payable to the named executive officers of the Company in connection with the consummation of the Merger, was approved by the requisite vote of the Company’s stockholders. The third proposal, to approve any adjournment of the Special Meeting, if necessary, to solicit additional proxies if there were insufficient votes in favor of the Merger Agreement proposal, was also approved by the requisite vote of the Company’s stockholders. Because the Merger Agreement proposal was approved by the requisite vote, no adjournment to solicit additional proxies was necessary. The proposed transaction constitutes a “going-private transaction” under the rules of the SEC and is expected to close by the first quarter of 2025. The closing of the Merger is subject to various conditions, including (i) the expiration or termination of the applicable waiting periods (and any extensions thereof) under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (the “HSR Act”); (ii) the receipt of certain required consents or approvals from (a) the Federal Communications Commission, (b) the Committee on Foreign Investment in the United States, (c) state public utility commissions and (d) local regulators in connection with the provision of telecommunications and media services; (iii) the absence of any order, injunction or decree restraining, enjoining or otherwise prohibiting or making illegal the consummation of the Merger or the other transactions contemplated by the Merger Agreement; and (iv) the accuracy of the representations and warranties contained in the Merger Agreement, subject to customary materiality qualifications, as of the date of the Merger Agreement and the date of closing, and performance in all material respects of the covenants and agreements contained in the Merger Agreement. The transaction is not subject to a financing condition. We are awaiting required regulatory approvals in order to execute the Merger. Following the closing of the transaction, shares of our common stock will no longer be traded or listed on any public securities exchange. Cost Savings Initiative In July 2023, we initiated a business simplification and cost savings initiative plan intended to further align our company as a fiber-first provider, improve operating efficiencies, lower our cost structure and ultimately improve the overall customer experience. This initiative includes a reduction in workforce, consolidation and elimination of certain facilities and review of our product offerings. In 2023, we recognized severance costs of $17.4 million in connection with the cost savings plan. Discontinued Operations – Sale of Investment in Wireless Partnerships On September 13, 2022, we completed the sale of our five limited wireless partnership interests to Cellco Partnership (“Cellco”) for an aggregate purchase price of $490.0 million, other than a portion of the interest in one of the partnerships which was sold to a limited partner of such partnership pursuant to its right of first refusal. Cellco is the general partner for each of the five wireless partnerships and is an indirect, wholly-owned subsidiary of Verizon Communications, Inc. In accordance with Accounting Standards Codification (“ASC”) 205-20, Presentation of Financial Statements – Discontinued Operations
Cash and Cash Equivalents	Cash and Cash Equivalents We consider all highly liquid investments with an original maturity of three months or less to be cash equivalents. Our cash equivalents consist primarily of money market funds and commercial paper. The carrying amounts of our cash equivalents approximate their fair values.
Accounts Receivable and Allowance for Credit Losses	Accounts Receivable and Allowance for Credit Losses Accounts receivable (“AR”) consists primarily of amounts due to the Company from normal business activities. We maintain an allowance for credit losses (“ACL”) based on our historical loss experience, current conditions and forecasted changes including but not limited to changes related to the economy, our industry and business. Uncollectible accounts are written-off (removed from AR and charged against the ACL) when internal collection efforts have been unsuccessful. Subsequently, if payment is received from the customer, the recovery is credited to the ACL. The following table summarizes the activity in the ACL for the years ended December 31, 2023, 2022 and 2021: (In thousands) 2023 2022 2021 Balance at beginning of year $ 11,470 $ 9,961 $ 9,136 Provision charged to expense 8,520 8,684 7,752 Write-offs, less recoveries (6,521) (7,175) (6,927) Balance at end of year $ 13,469 $ 11,470 $ 9,961
Investments	Investments Investments in debt securities that we have the positive intent and ability to hold until maturity are classified as held-to-maturity. We consider all highly liquid investments with original maturities of three months or less to be cash equivalents. Investments with original maturities of more than three months and less than one year are classified as short-term investments. Held-to maturity debt securities are recorded at amortized cost, which approximates fair value, and realized gains or losses are recognized in earnings. Our long-term investments are primarily accounted for under either the equity method or at cost. If we have the ability to exercise significant influence over the operations and financial policies of an affiliated company, the investment in the affiliated company is accounted for using the equity method. If we do not have control and also cannot exercise significant influence, we account for these investments at our initial cost less impairment because fair value is not readily available for these investments. We review our investment portfolio periodically to determine whether there are identified events or circumstances that would indicate there is a decline in the fair value that is considered to be other than temporary. If we believe the decline is other than temporary, we evaluate the financial performance of the business and compare the carrying value of the investment to quoted market prices (if available) or the fair value of similar investments. If an investment is deemed to have experienced an impairment that is considered other-than temporary, the carrying amount of the investment is reduced to its quoted or estimated fair value, as applicable, and an impairment loss is recognized in other income (expense).
Fair Value of Financial Instruments	Fair Value of Financial Instruments We account for certain assets and liabilities at fair value. Fair value is an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or a liability. A financial asset or liability’s classification within a three-tiered value hierarchy is determined based on the lowest level input that is significant to the fair value measurement. The hierarchy prioritizes the inputs to valuation techniques into three broad levels in order to maximize the use of observable inputs and minimize the use of unobservable inputs. The levels of the fair value hierarchy are as follows: Level 1 – Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets. Level 2 – Inputs that reflect quoted prices in active markets for similar assets or liabilities, quoted prices for identical or similar assets or liabilities in inactive markets and inputs other than quoted prices that are directly or indirectly observable in the marketplace. Level 3 – Unobservable inputs which are supported by little or no market activity.
Property, Plant and Equipment	Property, Plant and Equipment Property, plant and equipment are recorded at cost. We capitalize additions and substantial improvements and expense repairs and maintenance costs as incurred. We capitalize the cost of internal-use network and non-network software which has a useful life in excess of one year. Subsequent additions, modifications or upgrades to internal-use network and non-network software are capitalized only to the extent that they allow the software to perform a task it previously did not perform. Software maintenance and training costs are expensed in the period in which they are incurred. Also, we capitalize interest associated with the development of internal-use network and non-network software. Property, plant and equipment consisted of the following as of December 31, 2023 and 2022: December 31, December 31, Estimated (In thousands) 2023 2022 Useful Lives Land and buildings $ 275,989 $ 270,708 18 - 40 years Central office switching and transmission 1,797,552 1,635,263 3 - 25 years Outside plant cable, wire and fiber facilities 2,700,978 2,445,298 3 - 50 years Furniture, fixtures and equipment 380,041 347,346 3 - 15 years Assets under finance leases 71,398 58,081 2 - 16 years Total plant in service 5,225,958 4,756,696 Less: accumulated depreciation and amortization (3,001,201) (2,754,587) Plant in service 2,224,757 2,002,109 Construction in progress 108,584 123,736 Construction inventory 115,668 108,277 Totals $ 2,449,009 $ 2,234,122 Construction inventory, which is stated at weighted average cost, consists primarily of network construction materials and supplies that when issued are predominately capitalized as part of new customer installations and the construction of the network. We record depreciation using the straight-line method over estimated useful lives using either the group or unit method. The useful lives are estimated at the time the assets are acquired and are based on historical experience with similar assets, anticipated technological changes and the expected impact of our strategic operating plan on our network infrastructure. In addition, the ranges of estimated useful lives presented above are impacted by the accounting for business combinations as the lives assigned to these acquired assets are generally much shorter than that of a newly acquired asset. The group method is used for depreciable assets dedicated to providing regulated telecommunication services, including the majority of the network, outside plant facilities and certain support assets. A depreciation rate for each asset group is developed based on the average useful life of the group. The group method requires periodic revision of depreciation rates. When an individual asset is sold or retired, the difference between the proceeds, if any, and the cost of the asset is charged or credited to accumulated depreciation, without recognition of a gain or loss. The unit method is primarily used for buildings, furniture, fixtures and other support assets. Each asset is depreciated on the straight-line basis over its estimated useful life. When an individual asset is sold or retired, the cost basis of the asset and related accumulated depreciation are removed from the accounts and any associated gain or loss is recognized. Depreciation and amortization expense related to property, plant and equipment was $291.8 million, $269.3 million and $261.1 million in 2023, 2022 and 2021, respectively. Amortization of assets under finance leases is included in the depreciation and amortization expense in the consolidated statements of operations. We evaluate the recoverability of our property, plant and equipment whenever events or substantive changes in circumstances indicate that the carrying amount of an asset group may not be recoverable. Recoverability is measured by a comparison of the carrying amount of an asset group to estimated undiscounted future cash flows expected to be generated by the asset group. If the total of the expected future undiscounted cash flows were less than the carrying amount of the asset group, we would recognize an impairment charge for the difference between the estimated fair value and the carrying value of the asset group.
Intangible Assets	Intangible Assets Indefinite-Lived Intangibles Goodwill and tradenames are evaluated for impairment annually or more frequently when events or changes in circumstances indicate that the asset might be impaired. We evaluate the carrying value of goodwill and tradenames as of November 30 of each year. Goodwill Goodwill is the excess of the acquisition cost of a business over the fair value of the identifiable net assets acquired. Goodwill is not amortized but instead evaluated annually for impairment. The evaluation of goodwill may first include a qualitative assessment to determine whether it is more likely than not that the fair value of the reporting unit is less than its carrying amount. Events and circumstances integrated into the qualitative assessment process include a combination of macroeconomic conditions affecting equity and credit markets, significant changes to the cost structure, overall financial performance and other relevant events affecting the reporting unit. When we use the quantitative approach to assess the goodwill carrying value and the fair value of our single reporting unit, the fair value of our reporting unit is compared to its carrying amount, including goodwill. The estimated fair value of the reporting unit is determined using a combination of market-based approaches and a discounted cash flow (“DCF”) model and reconciled to our market capitalization plus an estimated control premium. The assumptions used in the estimate of fair value are based upon a combination of historical results and trends, new industry developments and future cash flow projections, as well as relevant comparable company earnings multiples for the market-based approaches. Significant assumptions used in the analysis may include a long-term growth rate and the weighted average cost of capital which is used to discount estimates of projected future results and cash flows. Such assumptions are judgmental and subject to change as a result of changing economic and competitive conditions. We use a weighting of the results derived from the valuation approaches to estimate the fair value of the reporting unit. In measuring the fair value of our single reporting unit as described, we consider the fair value of our reporting unit in relation to our overall enterprise value, measured as the publicly traded stock price multiplied by the fully diluted shares outstanding plus the fair value of outstanding debt. Our reporting unit fair value models are consistent with a range in value indicated by both the preceding three-month average stock price and the stock price on the valuation date, plus an estimated acquisition premium which is based on observable transactions of comparable companies, if applicable. For the 2023 assessment, we evaluated the fair value of goodwill compared to the carrying value using the qualitative approach. The results of the qualitative approach concluded that it was more likely than not that the fair value of goodwill was greater than the carrying value as of November 30, 2023. If the carrying value of the reporting unit exceeds its fair value, a goodwill impairment is recorded for the difference in the carrying value and fair value. We did not recognize any goodwill impairment in 2023, 2022 or 2021 as a result of the impairment tests. At December 31, 2023 and 2022, the carrying value of goodwill was $814.6 million and $929.6 million, respectively. Goodwill decreased $114.9 million during 2023 as a result of allocated goodwill for a divestiture classified as assets held for sale at December 31, 2023, as described in Note 5. Trade Name Our trade name is the federally registered mark CONSOLIDATED, a design of interlocking circles, which is used in association with our communication services. The Company’s corporate branding strategy leverages the CONSOLIDATED name and brand identity. All of the Company’s business units and several of our products and services incorporate the CONSOLIDATED name. Trade names with indefinite useful lives are not amortized but are tested for impairment at least annually. If facts and circumstances change relating to a trade name’s continued use in the branding of our products and services, it may be treated as a finite-lived asset and begin to be amortized over its estimated remaining life. When we use the quantitative approach to estimate the fair value of our trade names, we use DCFs based on a relief from royalty method. If the fair value of our trade names was less than the carrying amount, we would recognize an impairment charge for the difference between the estimated fair value and the carrying value of the assets. We perform our impairment testing of our trade names as single units of accounting based on their use in our single reporting unit. For the 2023 assessment, we used the qualitative approach to evaluate the fair value compared to the carrying value of the trade name. Based on our assessment, we concluded that the fair value of the trade names continued to exceed the carrying value. The carrying value of our trade names, excluding any finite lived trade names, was $10.6 million at December 31, 2023 and 2022. Finite-Lived Intangible Assets Finite-lived intangible assets subject to amortization consist primarily of our customer lists of an established base of customers that subscribe to our services. Finite-lived intangible assets are amortized using an accelerated amortization method or on a straight-line basis over their estimated useful lives. We evaluate the potential impairment of finite-lived intangible assets when impairment indicators exist. If the carrying value is no longer recoverable based upon the undiscounted future cash flows of the asset, an impairment equal to the difference between the carrying amount and the fair value of the asset is recognized. We did not recognize any intangible impairment charges in the years ended December 31, 2023, 2022 or 2021. The components of finite-lived intangible assets are as follows: December 31, 2023 December 31, 2022 Gross Carrying Accumulated Gross Carrying Accumulated (In thousands) Useful Lives Amount Amortization Amount Amortization Customer relationships 7 - 11 years $ 299,538 $ (280,922) $ 318,498 $ (275,409) Amortization expense related to the finite-lived intangible assets for the years ended December 31, 2023, 2022 and 2021 was $23.3 million, $30.9 million and $39.5 million, respectively. Expected future amortization expense of finite-lived intangible assets is as follows: (In thousands) 2024 $ 10,107 2025 3,180 2026 2,529 2027 1,996 2028 804 Thereafter — Total $ 18,616
Derivative Financial Instruments	Derivative Financial Instruments We use derivative financial instruments to manage our exposure to the risks associated with fluctuations in interest rates. Our interest rate swap agreements effectively convert a portion of our floating-rate debt to a fixed-rate basis, thereby reducing the impact of interest rate changes on future cash interest payments. At the inception of a hedge transaction, we formally document the relationship between the hedging instruments including our objective and strategy for establishing the hedge. In addition, the effectiveness of the derivative instrument is assessed at inception and on an ongoing basis throughout the hedging period. Counterparties to derivative instruments expose us to credit-related losses in the event of nonperformance. We execute agreements only with financial institutions we believe to be creditworthy and regularly assess the credit worthiness of each of the counterparties. We do not use derivative instruments for trading or speculative purposes. Derivative financial instruments are recorded at fair value in our consolidated balance sheets. Fair value is determined based on projected interest rate yield curves and an estimate of our nonperformance risk or our counterparty’s nonperformance credit risk, as applicable. We do not anticipate any nonperformance by any counterparty. For derivative instruments designated as a cash flow hedge, the change in the fair value is recognized as a component of accumulated other comprehensive income (loss) (“AOCI”) and is recognized as an adjustment to earnings over the period in which the hedged item impacts earnings. When an interest rate swap agreement terminates, any resulting gain or loss is recognized over the shorter of the remaining original term of the hedging instrument or the remaining life of the underlying debt obligation. If a derivative instrument is de-designated, the remaining gain or loss in AOCI on the date of de-designation is amortized to earnings over the remaining term of the hedging instrument. For derivative financial instruments that are not designated as a hedge, including those that have been de-designated, changes in fair value are recognized on a current basis in earnings. Cash flows from hedging activities are classified under the same category as the cash flows from the hedged items in our consolidated statement of cash flows. See Note 9 for further discussion of our derivative financial instruments.
Series A Preferred Stock	Series A Preferred Stock Our Series A Preferred Stock is classified as mezzanine equity in the consolidated balance sheets due to a deemed liquidation feature, which gives holders the right to require the Company to redeem all or any part of the holders’ Series A Preferred Stock for cash in the event of a fundamental change or change in control. We have not adjusted the carrying value of the Series A Preferred Stock to its liquidation value since the securities are not currently redeemable and it is not probable that they will become redeemable. Subsequent adjustments to increase the carrying value to the liquidation value will be made only if and when it becomes probable that such a deemed liquidation event will occur.
Share-based Compensation	Share-based Compensation We recognize share-based compensation expense for all restricted stock awards (“RSAs”) and performance share awards (“PSAs”) (collectively, “stock awards”) based on the estimated fair value of the stock awards on the date of grant. We recognize the expense associated with RSAs on a straight-line basis and for PSAs using the graded-vesting method over the requisite service period. Forfeitures are accounted for as they occur. See Note 12 for additional information regarding share-based compensation.
Pension Plan and Other Post-Retirement Benefits	Pension Plan and Other Post-Retirement Benefits We maintain noncontributory defined benefit pension plans and provide certain post-retirement health care and life insurance benefits to certain eligible employees. We also maintain two unfunded supplemental retirement plans to provide incremental pension payments to certain former employees. See Note 13 for a more detailed discussion regarding our pension and other post-retirement benefits. We recognize pension and post-retirement benefits expense during the current period in the consolidated statement of operations using certain assumptions, including the expected long-term rate of return on plan assets, interest cost implied by the discount rate, expected health care cost trend rate and the amortization of unrecognized gains and losses. We determine expected long-term rate of return on plan assets by considering historical investment performance, plan asset allocation strategies and return forecasts for each asset class and input from its advisors. Projected returns by such advisors were based on broad equity and fixed income indices. The expected long-term rate of return is reviewed annually in conjunction with other plan assumptions and revised, if considered necessary, to reflect changes in the financial markets and the investment strategy. Our plan assets are valued at fair value as of the measurement date. Our discount rate assumption is determined annually to reflect the rate at which the benefits could be effectively settled and approximate the timing of expected future payments based on current market determined interest rates for similar obligations. We use bond matching model BOND:Link comprising of high quality corporate bonds to match cash flows to the expected benefit payments. We recognize the overfunded or underfunded status of our defined benefit pension and post-retirement plans as either an asset or liability in the consolidated balance sheet. Actuarial gains and losses that arise during the year are recognized as a component of comprehensive income (loss), net of applicable income taxes, and included in accumulated other comprehensive income (loss). These gains and losses are amortized over future years as a component of the net periodic benefit cost when the net gains and losses exceed 10% of the greater of the market-related value of the plan assets or the projected benefit obligation at the beginning of the year. The amount in excess of the corridor is amortized over the average remaining service period of participating employees expected to receive benefits under the plans.
Income Taxes	Income Taxes Our estimates of income taxes and the significant items resulting in the recognition of deferred tax assets and liabilities are disclosed in Note 14 and reflect our assessment of future tax consequences of transactions that have been reflected in our financial statements or tax returns for each taxing jurisdiction in which we operate. We base our provision for income taxes on our current period income, changes in our deferred income tax assets and liabilities, income tax rates, changes in estimates of our uncertain tax positions and tax planning opportunities available in the jurisdictions in which we operate. We recognize deferred tax assets and liabilities when there are temporary differences between the financial reporting basis and tax basis of our assets and liabilities and for the expected benefits of using net operating loss and tax credit loss carryforwards. We establish valuation allowances when necessary to reduce the carrying amount of deferred income tax assets to the amounts that we believe are more likely than not to be realized. We evaluate the need to retain all or a portion of the valuation allowance on our deferred tax assets. When a change in the tax rate or tax law has an impact on deferred taxes, we apply the change when the tax law change is enacted, based on the years in which the temporary differences are expected to reverse. As we operate in more than one state, changes in our state apportionment factors, based on operating results, may affect our future effective tax rates and the value of our deferred tax assets and liabilities. We record a change in tax rates in our consolidated financial statements in the period of enactment. Income tax consequences that arise in connection with a business combination include identifying the tax basis of assets and liabilities acquired and any contingencies associated with uncertain tax positions assumed or resulting from the business combination. Deferred tax assets and liabilities related to temporary differences of an acquired entity are recorded as of the date of the business combination and are based on our estimate of the appropriate tax basis that will be accepted by the various taxing authorities. We record unrecognized tax benefits as liabilities in accordance with ASC 740, Income Taxes,
Revenue Recognition	Revenue Recognition Revenue is recognized when or as performance obligations are satisfied by transferring control of the good or service to the customer. Services Services revenues, with the exception of usage-based revenues, are generally billed in advance and recognized in subsequent periods when or as services are transferred to the customer. We offer services that consists of high-speed Internet, video and voice services including local and long distance calling, voicemail and calling features in either standalone or package offerings. Each service is considered distinct and therefore accounted for as a separate performance obligation. Service revenue is recognized over time, consistent with the transfer of service, as the customer simultaneously receives and consumes the benefits provided by the Company’s performance as the Company performs. Usage-based services, such as per-minute long-distance service and access charges billed to other telephone carriers for originating and terminating long-distance calls in our network, are billed in arrears. We recognize revenue from these services when or as services are transferred to the customer. Revenue related to nonrefundable upfront fees, such as service activation and set-up fees are deferred and amortized over the expected customer life. Equipment Equipment revenue is generated from the sale of voice and data communications equipment as well as design, configuration, installation and professional support services related to such equipment. Equipment revenue generated from telecommunications systems and structured cabling projects is recognized when or as the project is completed and control is transferred to the customer. Maintenance services are provided on both a contract and time and material basis and are recognized when or as services are transferred. Subsidies and Surcharges Subsidies consist of both federal and state funding, designed to promote widely available, quality telephone and broadband services at affordable prices and with higher data speeds in rural areas and for low-income consumers across the country. These revenues are calculated by the administering government agency based on information we provide. There is a reasonable possibility that out-of-period subsidy adjustments may be recorded in the future, but they are expected to be immaterial to our results of operations, financial position and cash flows. We recognize Federal Universal Service contributions on a gross basis. We account for all other taxes collected from customers and remitted to the respective government agencies on a net basis. Some subsidies are funded by end user surcharges to which telecommunications providers, including local, long-distance and wireless carriers, contribute on a monthly basis, while others are components of broader economic stimulus or recovery legislation. In other cases, subsidies are awarded to carriers periodically over a predetermined number of years to support their deployment of high-speed broadband infrastructure in underserved or unserved areas. During the years ended December 31, 2023 and 2022, subsidies included federal funding from the Rural Development Opportunity Fund (“RDOF”). The RDOF provides funding to bring faster broadband speeds to unserved and underserved areas of America. In the first phase of the RDOF auction process, we were awarded annual funding of approximately $5.9 million, beginning January 1, 2022 through December 31, 2031. The specific obligations associated with the RDOF funding include the obligation to deliver 1 Gbps downstream and 500 Mbps upstream data speeds to approximately 27,000 locations in seven states. RDOF subsidies are recognized as operating revenue since the primary conditions for the funding are the upgrade and operation of the broadband network over the funding period. We may be awarded grants from federal and state governments to assist in the deployment of broadband in order to support access to high-speed broadband services in underserved or unserved areas. The awards may include a number of regulatory requirements including the completion of construction by certain dates. Funding from the grants may be received in advance, upon completion of the project or when certain milestones are achieved. The grants are accounted for as a contribution in aid of construction given the nature of the arrangement and are recorded as a reduction to property, plant and equipment as the projects are completed. During the years ended December 31, 2023 and 2022, we recognized a reduction to property, plant and equipment of $19.5 million and $3.7 million, respectively, from grant funding for broadband deployment initiatives.
Advertising Costs	Advertising Costs Advertising costs are expensed as incurred. Advertising expense was $35.1 million, $34.5 million and $18.8 million in 2023, 2022 and 2021, respectively.
Statement of Cash Flows Information	Statement of Cash Flows Information During 2023, 2022 and 2021, we made payments for interest and income taxes as follows: (In thousands) 2023 2022 2021 Interest, net of amounts capitalized ($6,031, $10,112 and $5,590 in 2023, 2022 and 2021, respectively) $ 143,332 $ 119,322 $ 123,031 Income taxes paid (received), net $ 5,695 $ 9,585 $ 836 In 2023, 2022 and 2021, we acquired equipment of $24.6 million, $20.6 million and $13.9 million, respectively, through finance lease agreements. In 2023, 2022 and 2021, we acquired property and equipment of $33.3 million, $34.1 million and $52.9 million, respectively, which were accrued but not yet paid.
Noncontrolling Interest	Noncontrolling Interest We have a majority-owned subsidiary, East Texas Fiber Line Incorporated (“ETFL”), which is a joint venture owned 63% by the Company and 37% by Eastex Telecom Investments, LLC. ETFL provides connectivity over a fiber optic transport network to certain customers residing in Texas.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In March 2020, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2020-04 (“ASU 2020-04”), Facilitation of the Effects of Reference Rate Reform on Financial Reporting Reference Rate Reform (Topic 848): Scope Reference Rate Reform (Topic 848): Deferral of the Sunset Date of Topic 848 In November 2023, the FASB issued the Accounting Standards Update No. 2023-07 (“ASU 2023-07”), Improvements to Reportable Segment Disclosures In December 2023, the FASB issued the Accounting Standards Update No. 2023-09 (“ASU 2023-09”), Improvements to Income Tax Disclosures

BUSINESS DESCRIPTION & SUMMAR_3

BUSINESS DESCRIPTION & SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Dec. 31, 2023
BUSINESS DESCRIPTION & SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Summary of activity for ACL	(In thousands) 2023 2022 2021 Balance at beginning of year $ 11,470 $ 9,961 $ 9,136 Provision charged to expense 8,520 8,684 7,752 Write-offs, less recoveries (6,521) (7,175) (6,927) Balance at end of year $ 13,469 $ 11,470 $ 9,961
Schedule of property, plant and equipment	December 31, December 31, Estimated (In thousands) 2023 2022 Useful Lives Land and buildings $ 275,989 $ 270,708 18 - 40 years Central office switching and transmission 1,797,552 1,635,263 3 - 25 years Outside plant cable, wire and fiber facilities 2,700,978 2,445,298 3 - 50 years Furniture, fixtures and equipment 380,041 347,346 3 - 15 years Assets under finance leases 71,398 58,081 2 - 16 years Total plant in service 5,225,958 4,756,696 Less: accumulated depreciation and amortization (3,001,201) (2,754,587) Plant in service 2,224,757 2,002,109 Construction in progress 108,584 123,736 Construction inventory 115,668 108,277 Totals $ 2,449,009 $ 2,234,122
Schedule of carrying amount of finite-lived intangible assets	December 31, 2023 December 31, 2022 Gross Carrying Accumulated Gross Carrying Accumulated (In thousands) Useful Lives Amount Amortization Amount Amortization Customer relationships 7 - 11 years $ 299,538 $ (280,922) $ 318,498 $ (275,409)
Schedule of expected amortization expense	(In thousands) 2024 $ 10,107 2025 3,180 2026 2,529 2027 1,996 2028 804 Thereafter — Total $ 18,616
Schedule of supplemental cash flow information	(In thousands) 2023 2022 2021 Interest, net of amounts capitalized ($6,031, $10,112 and $5,590 in 2023, 2022 and 2021, respectively) $ 143,332 $ 119,322 $ 123,031 Income taxes paid (received), net $ 5,695 $ 9,585 $ 836

REVENUE (Tables)

REVENUE (Tables)	12 Months Ended
REVENUE (Tables)	Dec. 31, 2023
REVENUE
Schedule of disaggregation of revenue	Year Ended December 31, (In thousands) 2023 2022 2021 Operating Revenues Consumer: Broadband (Data and VoIP) $ 290,847 $ 272,146 $ 269,323 Voice services 125,166 144,853 160,698 Video services 34,957 54,153 65,114 450,970 471,152 495,135 Commercial: Data services (includes VoIP) 214,707 228,466 228,931 Voice services 127,909 142,274 154,567 Other 39,883 43,100 40,032 382,499 413,840 423,530 Carrier: Data and transport services 127,248 137,378 133,434 Voice services 15,588 14,772 17,183 Other 1,168 1,688 1,592 144,004 153,838 152,209 Subsidies 27,888 33,382 69,739 Network access 90,250 104,644 120,487 Other products and services 14,509 14,407 21,133 Total operating revenues $ 1,110,120 $ 1,191,263 $ 1,282,233
Schedule of receivables, contract assets and contract liabilities	Year Ended December 31, (In thousands) 2023 2022 Accounts receivable, net $ 121,194 $ 119,675 Contract assets 38,910 25,322 Contract liabilities 56,967 54,537

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	12 Months Ended
EARNINGS PER SHARE (Tables)	Dec. 31, 2023
EARNINGS PER SHARE
Schedule of basic and diluted EPS	Year Ended December 31, (In thousands, except per share amounts) 2023 2022 2021 Loss from continuing operations $ (250,058) $ (177,704) $ (139,127) Less: dividends on Series A preferred stock 43,910 40,104 2,677 Less: net income attributable to noncontrolling interest 456 564 392 Loss attributable to common shareholders before allocation of earnings to participating securities (294,424) (218,372) (142,196) Less: earnings allocated to participating securities — (6,284) — Loss from continuing operations attributable to common shareholders, after earnings allocated to participating securities (294,424) (212,088) (142,196) Income from discontinued operations — 318,353 32,434 Less: earnings allocated to participating securities — 9,161 — Income from discontinued operations attributable to common shareholders, after earnings allocated to participating securities — 309,192 32,434 Net income (loss) attributable to common shareholders, after earnings allocated to participating securities $ (294,424) $ 97,104 $ (109,762) Weighted-average number of common shares outstanding 113,096 111,754 87,293 Basic and diluted earnings (loss) per common share: Loss from continuing operations $ (2.60) $ (1.90) $ (1.63) Income from discontinued operations — 2.77 0.37 Net income (loss) per common share attributable to common shareholders - basic and diluted $ (2.60) $ 0.87 $ (1.26)

DIVESTITURES (Tables)

DIVESTITURES (Tables)	12 Months Ended
DIVESTITURES (Tables)	Dec. 31, 2023
Consolidated Communications of Comerco Company, Washington
Divestitures
Schedule of major classes of assets and liabilities to be sold were classified as held for sale in the consolidated balance sheet	(In thousands) Current assets $ 1,208 Property, plant and equipment 30,581 Goodwill 114,946 Other long-term assets 1,493 Impairment to net realizable value (77,755) Total assets $ 70,473 Current liabilities $ 2,196 Other long-term liabilities 1,206 Total liabilities $ 3,402

INVESTMENTS (Tables)

INVESTMENTS (Tables)	12 Months Ended
INVESTMENTS (Tables)	Dec. 31, 2023
Schedule of investments	(In thousands) 2023 2022 Short-term investments: Held-to-maturity debt securities $ - $ 87,951 Long-term investments: Cash surrender value of life insurance policies $ 2,860 $ 2,774 CoBank, ACB Stock 5,755 7,250 Other 272 273 $ 8,887 $ 10,297
Disposed of by Sale \| Five Limited Partnership Interests
Schedule of income statement effects and cash flows related to discontinued operations	(In thousands) 2022 2021 Investment income $ 23,467 $ 41,845 Gain on sale of discontinued operations 389,885 — Income from discontinued operations, before income taxes 413,352 41,845 Income tax expense 94,999 9,411 Net income from discontinued operations $ 318,353 $ 32,434 (In thousands) 2022 2021 Cash provided by operating activities - discontinued operations $ 29,165 $ 43,040 Cash provided by investing activities - discontinued operations $ 482,966 $ —

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	12 Months Ended
FAIR VALUE MEASUREMENTS (Tables)	Dec. 31, 2023
FAIR VALUE MEASUREMENTS
Schedule of interest rate swap agreements measured at fair value on a recurring basis	As of December 31, 2023 Quoted Prices Significant In Active Other Significant Markets for Observable Unobservable Identical Assets Inputs Inputs (In thousands) Total (Level 1) (Level 2) (Level 3) Long-term interest rate swap liabilities $ (2,421) $ — $ (2,421) $ — As of December 31, 2022 Quoted Prices Significant In Active Other Significant Markets for Observable Unobservable Identical Assets Inputs Inputs (In thousands) Total (Level 1) (Level 2) (Level 3) Current interest rate swap assets $ 5,959 $ — $ 5,959 $ —
Schedule of other financial instruments that are not carried at fair value but which require fair value disclosure	As of December 31, 2023 As of December 31, 2022 (In thousands) Carrying Value Fair Value Carrying Value Fair Value Long-term debt, excluding finance leases $ 2,142,858 $ 1,903,831 $ 2,141,176 $ 1,759,430

LONG-TERM DEBT (Tables)

LONG-TERM DEBT (Tables)	12 Months Ended
LONG-TERM DEBT (Tables)	Dec. 31, 2023
LONG-TERM DEBT
Schedule of components of long-term debt, presented net of unamortized discounts	(In thousands) 2023 2022 Senior secured credit facility: Term loans, net of discounts of $7,017 and $8,699 at December 31, 2023 and 2022, respectively $ 992,858 $ 991,176 6.50% Senior notes due 2028 750,000 750,000 5.00% Senior notes due 2028 400,000 400,000 Finance leases 39,240 35,746 2,182,098 2,176,922 Less: current portion of long-term debt and finance leases (18,425) (12,834) Less: deferred debt issuance costs (28,757) (34,626) Total long-term debt $ 2,134,916 $ 2,129,462
Schedule of aggregate maturities of long-term debt	(In thousands) 2024 $ — 2025 — 2026 — 2027 999,875 2028 1,150,000 Thereafter — Total maturities 2,149,875 Less: Unamortized discount (7,017) Carrying value $ 2,142,858

DERIVATIVE FINANCIAL INSTRUME_2

DERIVATIVE FINANCIAL INSTRUMENTS (Tables)	12 Months Ended
DERIVATIVE FINANCIAL INSTRUMENTS (Tables)	Dec. 31, 2023
DERIVATIVE FINANCIAL INSTRUMENTS
Schedule of outstanding interest rate swaps	The following interest rate swaps were outstanding at December 31, 2023: Notional (In thousands) Amount 2023 Balance Sheet Location Fair Value Cash Flow Hedges: Fixed to 1-month floating SOFR $ 500,000 Other long-term liabilities $ (2,421) Our fixed to 1-month floating SOFR interest rate swap agreements, which became effective July 31, 2023, have a fixed rate of 3.941% and mature on September 30, 2026. The following interest rate swaps were outstanding at December 31, 2022: Notional (In thousands) Amount 2022 Balance Sheet Location Fair Value Cash Flow Hedges: Fixed to 1-month floating LIBOR (with floor) $ 500,000 Prepaid expenses and other current assets $ 5,959
Schedule of gains and losses on cash flow hedge transactions	Year Ended December 31, (In thousands) 2023 2022 2021 Unrealized gain recognized in AOCI, pretax $ 626 $ 14,726 $ 1,174 Deferred gain (loss) reclassified from AOCI to interest expense $ 9,997 $ (2,328) $ (13,964)

LEASES (Tables)

LEASES (Tables)	12 Months Ended
LEASES (Tables)	Dec. 31, 2023
LEASES
Summary of components of lease right-of-use assets and liabilities	(In thousands) Balance Sheet Classification 2023 2022 Operating leases Operating lease right-of-use assets Other assets $ 29,437 $ 26,548 Current lease liabilities Accrued expense $ (8,256) $ (5,076) Noncurrent lease liabilities Other long-term liabilities $ (23,567) $ (22,249) Finance leases Finance lease right-of-use assets, net of accumulated depreciation of $14,408 and $15,308 Property, plant and equipment, net $ 57,165 $ 42,773 Current lease liabilities Current portion of long-term debt and finance lease obligations $ (18,425) $ (12,834) Noncurrent lease liabilities Long-term debt and finance lease obligations $ (20,815) $ (22,912) Weighted-average remaining lease term Operating leases 6.7 years 7.7 years Finance leases 2.8 years 3.5 years Weighted-average discount rate Operating leases 8.14 % 6.47 % Finance leases 9.30 % 6.60 %
Summary of components of lease expense	Year Ended December 31, (In thousands) 2023 2022 2021 Finance lease cost: Amortization of right-of-use assets $ 5,768 $ 4,804 $ 4,152 Interest on lease liabilities 3,374 1,444 1,106 Operating lease cost 8,017 8,469 8,359 Variable lease cost 1,790 2,167 2,054 Total lease cost $ 18,949 $ 16,884 $ 15,671
Schedule of supplemental cash flow information related to leases	Year Ended December 31, (In thousands) 2023 2022 2021 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows for operating leases $ 7,874 $ 8,003 $ 8,111 Operating cash flows for finance leases 3,374 1,444 1,106 Financing cash flows for finance leases 15,338 9,836 6,365 Right-of-use assets obtained in exchange for new lease liabilities: Operating leases 10,052 9,261 5,673 Finance leases 24,614 20,592 13,888
Schedule of maturities for operating leases	At December 31, 2023, the aggregate maturities of our lease liabilities were as follows: (In thousands) Operating Leases Finance Leases 2024 $ 10,235 $ 21,217 2025 6,723 15,465 2026 5,050 4,870 2027 4,346 363 2028 3,374 294 Thereafter 11,568 1,886 Total lease payments 41,296 44,095 Less: Interest (9,473) (4,855) $ 31,823 $ 39,240
Schedule of maturities for finance leases	(In thousands) Operating Leases Finance Leases 2024 $ 10,235 $ 21,217 2025 6,723 15,465 2026 5,050 4,870 2027 4,346 363 2028 3,374 294 Thereafter 11,568 1,886 Total lease payments 41,296 44,095 Less: Interest (9,473) (4,855) $ 31,823 $ 39,240

SHAREHOLDERS' EQUITY (Tables)

SHAREHOLDERS' EQUITY (Tables)	12 Months Ended
SHAREHOLDERS' EQUITY (Tables)	Dec. 31, 2023
SHAREHOLDERS' EQUITY
Summary of the grants of RSAs and PSAs under the Plan	Year Ended December 31, Grant Date Grant Date Grant Date 2023 Fair Value 2022 Fair Value 2021 Fair Value RSAs Granted 1,695,071 $ 3.02 1,031,999 $ 4.70 941,748 $ 7.51 PSAs Granted 370,667 $ 5.41 904,435 $ 7.52 788,054 $ 6.31 Total 2,065,738 1,936,434 1,729,802
Summary of RSA and PSA activity	RSAs PSAs Weighted Weighted Average Grant Average Grant Shares Date Fair Value Shares Date Fair Value Non-vested shares outstanding - December 31, 2022 1,185,980 $ 5.84 1,464,058 $ 7.07 Shares granted 1,695,071 $ 3.02 370,667 $ 5.41 Shares vested (1,114,904) $ 4.44 (922,359) $ 7.40 Shares forfeited, cancelled or retired (274,150) $ 5.33 (221,544) $ 7.61 Non-vested shares outstanding - December 31, 2023 1,491,997 $ 3.78 690,822 $ 7.28
Summary of total compensation costs recognized for share-based payments	Year Ended December 31, (In thousands) 2023 2022 2021 Restricted stock $ 4,506 $ 5,296 $ 5,478 Performance shares 3,107 5,459 4,619 Total $ 7,613 $ 10,755 $ 10,097
Schedule of changes in accumulated other comprehensive loss, net of tax, by component	Pension and Post-Retirement Derivative (In thousands) Obligations Instruments Total Balance at December 31, 2021 $ (52,099) $ (7,472) $ (59,571) Other comprehensive gain before reclassifications 47,123 10,879 58,002 Amounts reclassified from accumulated other comprehensive loss (762) 1,721 959 Net current period other comprehensive income (loss) 46,361 12,600 58,961 Balance at December 31, 2022 $ (5,738) $ 5,128 $ (610) Other comprehensive gain (loss) before reclassifications (14,664) 462 (14,202) Amounts reclassified from accumulated other comprehensive loss 318 (7,378) (7,060) Net current period other comprehensive income (14,346) (6,916) (21,262) Balance at December 31, 2023 $ (20,084) $ (1,788) $ (21,872)
Summary of reclassifications from accumulated other comprehensive loss	Year Ended December 31, Affected Line Item in the (In thousands) 2023 2022 Statement of Operations Amortization of pension and post-retirement items: Prior service credit $ 529 $ 777 (a) Actuarial gain 5,447 254 (a) Settlement loss (6,402) — (a) (426) 1,031 Total before tax 108 (269) Tax (expense) benefit $ (318) $ 762 Net of tax Gain (loss) on cash flow hedges: Interest rate derivatives $ 9,997 $ (2,328) Interest expense (2,619) 607 Tax (expense) benefit $ 7,378 $ (1,721) Net of tax (a) These items are included in the components of net periodic benefit cost for our pension and post-retirement benefit plans. See Note 13 for additional details.

PENSION PLAN AND OTHER POST-R_2

PENSION PLAN AND OTHER POST-RETIREMENT BENEFITS (Tables)	12 Months Ended
PENSION PLAN AND OTHER POST-RETIREMENT BENEFITS (Tables)	Dec. 31, 2023
Post-retirement benefit obligation
Schedule of expected benefit payments	Other Pension Post-retirement (In thousands) Plans Plans 2024 $ 31,195 $ 5,673 2025 32,150 5,074 2026 33,082 4,667 2027 34,063 4,347 2028 34,876 4,064 2029 - 2033 177,516 18,648
Defined Benefit Plans
Post-retirement benefit obligation
Summary of change in benefit obligation, plan assets and funded status of the Pension Plans	(In thousands) 2023 2022 Change in benefit obligation Benefit obligation at the beginning of the year $ 538,968 $ 744,463 Interest cost 29,150 22,273 Actuarial loss (gain) 16,254 (197,697) Benefits paid (27,927) (30,071) Plan settlement (41,643) — Benefit obligation at the end of the year $ 514,802 $ 538,968 (In thousands) 2023 2022 Change in plan assets Fair value of plan assets at the beginning of the year $ 464,757 $ 617,540 Employer contributions 255 10,055 Actual return on plan assets 29,363 (132,767) Benefits paid (27,927) (30,071) Plan settlement (41,643) — Fair value of plan assets at the end of the year $ 424,805 $ 464,757 Funded status at year end $ (89,997) $ (74,211)
Schedule of amounts recognized in the consolidated balance sheets	(In thousands) 2023 2022 Current liabilities $ (235) $ (236) Long-term liabilities $ (89,762) $ (73,975)
Schedule of amounts recognized in accumulated other comprehensive loss	(In thousands) 2023 2022 Unamortized prior service cost $ 563 $ 685 Unamortized net actuarial loss 72,432 61,193 $ 72,995 $ 61,878
Schedule of the components of net periodic pension cost	(In thousands) 2023 2022 2021 Interest cost $ 29,150 $ 22,273 $ 22,758 Expected return on plan assets (31,023) (36,535) (36,997) Amortization of: Net actuarial loss 273 730 2,309 Prior service cost 122 123 122 Plan settlement 6,402 — 5,864 Net periodic pension cost (benefit) $ 4,924 $ (13,409) $ (5,944)
Summary of changes in plan assets and benefit obligations recognized in other comprehensive loss, before tax effects	(In thousands) 2023 2022 Actuarial loss (gain), net $ 17,914 $ (28,395) Recognized actuarial loss (273) (730) Recognized prior service cost (122) (123) Plan settlement (6,402) — Total amount recognized in other comprehensive loss, before tax effects $ 11,117 $ (29,248)
Schedule of weighted-average discount rate assumptions used to determine benefit obligations and net periodic pension benefit cost	2023 2022 2021 Discount rate - net periodic benefit cost 5.65 % 3.05 % 2.81 % Discount rate - benefit obligation 5.34 % 5.63 % 3.05 % Expected long-term rate of return on plan assets 7.00 % 6.00 % 6.00 % Rate of compensation/salary increase N/A N/A N/A % Interest crediting rate for cash balance plans 4.75 % 4.00 % 2.00 %
Schedule of fair values of assets for the entity's defined benefit pension plans	As of December 31, 2023 Quoted Prices Significant In Active Other Significant Markets for Observable Unobservable Identical Assets Inputs Inputs (In thousands) Total (Level 1) (Level 2) (Level 3) Cash and cash equivalents $ 5 $ 5 $ — $ — Equities: Stocks: U.S. common stocks 21 21 — — International stocks 2 2 — — Total plan assets in the fair value hierarchy 28 $ 28 $ — $ — Common Collective Trusts measured at NAV: (1) Short-term investments (2) 5,644 Equities: Global 150,377 Real estate 74,453 Fixed Income 142,221 Hedge Funds 52,082 Total plan assets $ 424,805 As of December 31, 2022 Quoted Prices Significant In Active Other Significant Markets for Observable Unobservable Identical Assets Inputs Inputs (In thousands) Total (Level 1) (Level 2) (Level 3) Cash and cash equivalents $ 38 $ 38 $ — $ — Equities: Stocks: U.S. common stocks 21 21 — — International stocks 2 2 — — Total plan assets in the fair value hierarchy 61 $ 61 $ — $ — Common Collective Trusts measured at NAV: (1) Short-term investments (2) 4,739 Equities: Global 154,626 Real estate 96,641 Fixed Income 137,174 Hedge Funds 71,519 Other liabilities (3) (3) Total plan assets $ 464,757 (1) Certain investments that are measured at fair value using NAV per share as a practical expedient have not been categorized in the fair value hierarchy. The fair value amounts presented in these tables are intended to permit reconciliation of the fair value hierarchy to the total plan assets. (2) Short-term investments include an investment in a common collective trust which is principally comprised of certificates of deposit, commercial paper, U.S. government obligations and variable rate securities with maturities less than one year. (3) Other liabilities include net amount due from pending securities purchased and sold.
Post-retirement Benefit Obligations
Post-retirement benefit obligation
Summary of change in benefit obligation, plan assets and funded status of the Pension Plans	(In thousands) 2023 2022 Change in benefit obligation Benefit obligation at the beginning of the year $ 56,223 $ 96,434 Service cost 65 658 Interest cost 2,939 2,593 Plan participant contributions 80 447 Actuarial loss (gain) 2,708 (36,567) Benefits paid (7,021) (7,342) Plan amendments (815) — Benefit obligation at the end of the year $ 54,179 $ 56,223 (In thousands) 2023 2022 Change in plan assets Fair value of plan assets at the beginning of the year $ 2,693 $ 3,546 Employer contributions 6,941 6,894 Plan participant’s contributions 80 447 Actual return on plan assets 110 (852) Benefits paid (7,021) (7,342) Fair value of plan assets at the end of the year $ 2,803 $ 2,693 Funded status at year end $ (51,376) $ (53,530)
Schedule of amounts recognized in the consolidated balance sheets	(In thousands) 2023 2022 Current liabilities $ (3,933) $ (4,328) Long-term liabilities $ (47,443) $ (49,202)
Schedule of amounts recognized in accumulated other comprehensive loss	(In thousands) 2023 2022 Unamortized prior service credit $ (2,129) $ (1,965) Unamortized net actuarial gain (30,597) (39,103) $ (32,726) $ (41,068)
Schedule of the components of net periodic pension cost	(In thousands) 2023 2022 2021 Service cost $ 65 $ 658 $ 649 Interest cost 2,939 2,593 2,579 Expected return on plan assets (188) (213) (200) Amortization of: Net actuarial gain (5,720) (984) — Prior service credit (651) (900) (901) Net periodic postretirement benefit cost $ (3,555) $ 1,154 $ 2,127
Summary of changes in plan assets and benefit obligations recognized in other comprehensive loss, before tax effects	(In thousands) 2023 2022 Actuarial loss (gain), net $ 2,786 $ (35,502) Recognized actuarial gain 5,720 984 Prior service credit (815) — Recognized prior service credit 651 900 Total amount recognized in other comprehensive loss, before tax effects $ 8,342 $ (33,618)
Schedule of weighted-average discount rate assumptions used to determine benefit obligations and net periodic pension benefit cost	2023 2022 2021 Discount rate - net periodic benefit cost 5.64 % 2.94 % 2.57 % Discount rate - benefit obligation 5.40 % 5.64 % 2.93 % Rate of compensation/salary increase 2.50 % 2.50 % 2.50 %
Schedule of fair values of assets for the entity's defined benefit pension plans	As of December 31, (In thousands) 2023 Common Collective Trusts measured at NAV: (1) Short-term investments (2) $ 38 Equities: Global 1,023 Real estate 506 Fixed Income 968 Hedge Funds 355 Total plan assets 2,890 Benefit payments payable (87) Net plan assets $ 2,803 As of December 31, 2022 Quoted Prices Significant In Active Other Significant Markets for Observable Unobservable Identical Assets Inputs Inputs (In thousands) Total (Level 1) (Level 2) (Level 3) Cash and cash equivalents $ 1 $ 1 $ — $ — Common Collective Trusts measured at NAV: (1) Short-term investments (2) 28 Equities: Global 917 Real estate 573 Fixed Income 814 Hedge Funds 425 Total plan assets 2,758 Benefit payments payable (65) Net plan assets $ 2,693 (1) Certain investments that are measured at fair value using NAV per share as a practical expedient have not been categorized in the fair value hierarchy. The fair value amounts presented in these tables are intended to permit reconciliation of the fair value hierarchy to the total plan assets. (2) Short-term investments include investment in a common collective trust which is principally comprised of certificates of deposit, commercial paper and U.S. government obligations with maturities less than one year.

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
INCOME TAXES (Tables)	Dec. 31, 2023
INCOME TAXES
Schedule of components of income tax expense (benefit)	For the Year Ended (In thousands) 2023 2022 2021 Current: Federal $ 303 $ 199 $ 305 State 4,182 830 470 Total current expense 4,485 1,029 775 Deferred: Federal (46,740) (20,983) (3,921) State (9,352) (7,104) 14 Total deferred expense (benefit) (56,092) (28,087) (3,907) Total income tax expense (benefit) $ (51,607) $ (27,058) $ (3,132)
Schedule of reconciliation of the federal statutory tax rate to the effective tax rate	For the Year Ended (In percentages) 2023 2022 2021 Statutory federal income tax rate 21.0 % 21.0 % 21.0 % State income taxes, net of federal benefit 5.1 5.3 4.7 Searchlight investment — — (23.3) Other permanent differences (0.5) (0.7) (0.4) Change in deferred tax rate — 1.5 0.2 Valuation allowance (0.7) (0.3) (1.2) Provision to return (1.2) 0.1 1.9 Non deductible goodwill (6.8) (13.4) (1.0) Other 0.2 (0.3) 0.3 17.1 % 13.2 % 2.2 %
Schedule of components of the net deferred tax liability	Year Ended December 31, (In thousands) 2023 2022 Non-current deferred tax assets: Reserve for uncollectible accounts $ 3,558 $ 3,032 Accrued vacation pay deducted when paid 4,350 4,501 Accrued expenses and deferred revenue 12,456 15,458 Net operating loss carryforwards 124,282 71,576 Excess interest carryforward 58,954 19,580 Pension and postretirement obligations 37,619 34,083 Share-based compensation 1,737 2,347 Derivative instruments 634 (1,815) Tax credit carryforwards 1,010 4,282 244,600 153,044 Valuation allowance (7,805) (8,379) Net non-current deferred tax assets 236,795 144,665 Non-current deferred tax liabilities: Goodwill and other intangibles (27,316) (36,384) Partnership investments 270 271 Property, plant and equipment (416,491) (377,886) Financing costs (3,895) (4,976) Other (11) 1 (447,443) (418,974) Net non-current deferred taxes $ (210,648) $ (274,309)

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	12 Months Ended
COMMITMENTS AND CONTINGENCIES (Tables)	Dec. 31, 2023
COMMITMENTS AND CONTINGENCIES
Summary of minimum annual contractual obligations and the estimated timing and effect the obligations will have on liquidity and cash flows	Minimum Annual Contractual Obligations (in thousands) 2024 2025 2026 2027 2028 Thereafter Total Service and support agreements (1) $ 18,559 $ 12,525 $ 2,713 $ 812 $ 820 $ 505 $ 35,934 Transport and data connectivity 7,388 1,950 1,835 1,846 1,828 34 14,881 Capital expenditures (2) 26,745 — — — — — 26,745 Other operating agreements (3) 2,984 1,808 1,278 654 620 1,717 9,061 Total $ 55,676 $ 16,283 $ 5,826 $ 3,312 $ 3,268 $ 2,256 $ 86,621 (1) We have entered into service and maintenance agreements to support various computer hardware and software applications and certain equipment. (2) We have binding commitments with numerous suppliers for future capital expenditures. (3) We have entered into various non-cancelable rental agreements for certain facilities and equipment used in our operations.

QUARTERLY FINANCIAL INFORMATI_2

QUARTERLY FINANCIAL INFORMATION (UNAUDITED) (Tables)	12 Months Ended
QUARTERLY FINANCIAL INFORMATION (UNAUDITED) (Tables)	Dec. 31, 2023
QUARTERLY FINANCIAL INFORMATION (UNAUDITED)
Schedule of unaudited quarterly financial information	Quarter Ended 2023 March 31, June 30, September 30, December 31, (In thousands, except per share amounts) Net revenues $ 276,126 $ 275,162 $ 283,654 $ 275,178 Operating loss $ (18,099) $ (95,047) $ (31,878) $ (13,154) Loss from continuing operations $ (36,961) $ (108,092) $ (57,720) $ (47,285) Discontinued operations, net of tax $ — $ — $ — $ — Net loss attributable to common stockholders $ (47,691) $ (118,957) $ (69,162) $ (58,614) Basic and diluted earnings (loss) per common share: Loss from continuing operations $ (0.42) $ (1.05) $ (0.61) $ (0.52) Income from discontinued operations — — — — Net loss per common share attributable to common shareholders - basic and diluted $ (0.42) $ (1.05) $ (0.61) $ (0.52) Quarter Ended 2022 March 31, June 30, September 30, December 31, (In thousands, except per share amounts) Net revenues $ 300,278 $ 298,390 $ 296,619 $ 295,976 Operating income (loss) $ (107,742) $ 14,449 $ 20,852 $ (20,721) Loss from continuing operations $ (119,096) $ (10,591) $ (7,257) $ (40,760) Discontinued operations, net of tax $ 3,547 $ 9,079 $ 299,934 $ 5,793 Net income (loss) attributable to common stockholders $ (125,262) $ (11,517) $ 282,250 $ (45,490) Basic and diluted earnings (loss) per common share: Income (loss) from continuing operations $ (1.15) $ (0.18) $ (0.15) $ (0.46) Income from discontinued operations 0.03 0.08 2.60 0.05 Net income (loss) per common share attributable to common shareholders - basic and diluted $ (1.12) $ (0.10) $ 2.45 $ (0.41)

BUSINESS DESCRIPTION & SUMMAR_4

BUSINESS DESCRIPTION & SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Business (Details)	Dec. 31, 2023 state mi
Number of fiber route miles \| mi	60,000
Minimum
Number of states \| state	20

BUSINESS DESCRIPTION & SUMMAR_5

BUSINESS DESCRIPTION & SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Recent Developments (Details) $ / shares in Units, $ in Thousands		6 Months Ended	12 Months Ended
	Dec. 07, 2021 USD ($)	Dec. 31, 2023 USD ($) $ / shares	Dec. 31, 2021 USD ($)	Oct. 15, 2023 $ / shares	Dec. 31, 2022 $ / shares	Sep. 13, 2022 USD ($) item
Investment Holdings [Line Items]
Common stock, par value (in dollars per share) \| $ / shares		$ 0.01			$ 0.01
Proceeds from issuance of common stock			$ 75,000
Disposed of by Sale
Investment Holdings [Line Items]
Number of wireless partnerships \| item						5
Discontinued operation, consideration						$ 490,000
East Texas Fiber Line
Investment Holdings [Line Items]
Ownership interest (as a percent)		63%
Eastex Telecom Investments, LLC \| East Texas Fiber Line
Investment Holdings [Line Items]
Minority interest holding percentage		37%
Merger Agreement \| Searchlight
Investment Holdings [Line Items]
Ownership percentage held in the company		34%
Common stock, par value (in dollars per share) \| $ / shares				$ 0.01
Cash consideration price per share \| $ / shares				$ 4.70
Merger Agreement \| Searchlight \| Consolidated Communications Holdings, Inc \| Series A preferred stock
Investment Holdings [Line Items]
Preferred stock owned (as a percent)		100%
Investment Agreement \| Searchlight
Investment Holdings [Line Items]
Proceeds from issuance of common stock	$ 75,000
Cost Savings Initiative
Investment Holdings [Line Items]
Severance costs incurred during the period		$ 17,400

BUSINESS DESCRIPTION & SUMMAR_6

BUSINESS DESCRIPTION & SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Accounts Receivable and Allowance for Credit Losses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Activity in the entity's accounts receivable allowance
Balance at beginning of year	$ 11,470	$ 9,961	$ 9,136
Provision charged to expense	8,520	8,684	7,752
Write-offs, less recoveries	(6,521)	(7,175)	(6,927)
Balance at end of year	$ 13,469	$ 11,470	$ 9,961

BUSINESS DESCRIPTION & SUMMAR_7

BUSINESS DESCRIPTION & SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Property, Plant, and Equipment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Property, plant and equipment
Total plant in service	$ 5,225,958	$ 4,756,696
Less: accumulated depreciation and amortization	(3,001,201)	(2,754,587)
Plant in service	2,224,757	2,002,109
Totals	2,449,009	2,234,122
Depreciation and amortization expense	$ 291,800	269,300	$ 261,100
Internal use network and non-network software \| Maximum
Property, plant and equipment
Period after which property plan and equipment capitalized	1 year
Land and buildings
Property, plant and equipment
Total plant in service	$ 275,989	270,708
Land and buildings \| Minimum
Property, plant and equipment
Estimated Useful Lives	18 years
Land and buildings \| Maximum
Property, plant and equipment
Estimated Useful Lives	40 years
Central office switching and transmission
Property, plant and equipment
Total plant in service	$ 1,797,552	1,635,263
Central office switching and transmission \| Minimum
Property, plant and equipment
Estimated Useful Lives	3 years
Central office switching and transmission \| Maximum
Property, plant and equipment
Estimated Useful Lives	25 years
Outside plant cable, wire and fiber facilities
Property, plant and equipment
Total plant in service	$ 2,700,978	2,445,298
Outside plant cable, wire and fiber facilities \| Minimum
Property, plant and equipment
Estimated Useful Lives	3 years
Outside plant cable, wire and fiber facilities \| Maximum
Property, plant and equipment
Estimated Useful Lives	50 years
Furniture, fixtures and equipment
Property, plant and equipment
Total plant in service	$ 380,041	347,346
Furniture, fixtures and equipment \| Minimum
Property, plant and equipment
Estimated Useful Lives	3 years
Furniture, fixtures and equipment \| Maximum
Property, plant and equipment
Estimated Useful Lives	15 years
Assets under finance leases
Property, plant and equipment
Total plant in service	$ 71,398	58,081
Assets under finance leases \| Minimum
Property, plant and equipment
Estimated Useful Lives	2 years
Assets under finance leases \| Maximum
Property, plant and equipment
Estimated Useful Lives	16 years
Construction in progress
Property, plant and equipment
Total plant in service	$ 108,584	123,736
Construction inventory
Property, plant and equipment
Total plant in service	$ 115,668	$ 108,277

BUSINESS DESCRIPTION & SUMMAR_8

BUSINESS DESCRIPTION & SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Finite lived intangible assets
Preceding period of average stock price used to calculate impairment of reporting unit under the fair value model	3 months
Goodwill	$ 814,624	$ 929,570
Goodwill increase (decrease)	(114,900)
Amortization of intangible assets	23,300	30,900	$ 39,500
Expected amortization expense
2024	10,107
2025	3,180
2026	2,529
2027	1,996
2028	804
Total	18,616
Customer Relationships
Finite lived intangible assets
Gross Carrying Amount	299,538	318,498
Accumulated Amortization	$ (280,922)	(275,409)
Customer Relationships \| Minimum
Finite lived intangible assets
Useful Lives	7 years
Customer Relationships \| Maximum
Finite lived intangible assets
Useful Lives	11 years
Tradenames
Finite lived intangible assets
Indefinitely renewable tradenames	$ 10,600	$ 10,600

BUSINESS DESCRIPTION & SUMMAR_9

BUSINESS DESCRIPTION & SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Share-based , Pension Plan, Income Taxes, and Revenue (Details) $ in Thousands	3 Months Ended								12 Months Ended			120 Months Ended
	Dec. 31, 2023 USD ($)	Sep. 30, 2023 USD ($)	Jun. 30, 2023 USD ($)	Mar. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Sep. 30, 2022 USD ($)	Jun. 30, 2022 USD ($)	Mar. 31, 2022 USD ($)	Dec. 31, 2023 USD ($) state item	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2031 item state
Pension Plan and Other Post-Retirement Benefits
Number of non-qualified plans \| item									2
Amortization threshold (as a percentage)									10%
Income Taxes
Minimum number of states in which entity operates \| state									1
Revenue
Revenue recorded	$ 275,178	$ 283,654	$ 275,162	$ 276,126	$ 295,976	$ 296,619	$ 298,390	$ 300,278	$ 1,110,120	$ 1,191,263	$ 1,282,233
Reduction to property, plant, and equipment from grant funding									19,500	3,700
Subsidies
Revenue
Revenue recorded									27,888	33,382	$ 69,739
Forecast
Revenue
Number of locations benefiting from RDOF \| item												27,000
Number of states in which locations are benefiting from RDOF \| state												7
RDOF \| Subsidies
Revenue
Revenue recorded									$ 5,900	$ 5,900

BUSINESS DESCRIPTION & SUMMA_10

BUSINESS DESCRIPTION & SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Advertising Costs and Cash Flow (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
BUSINESS DESCRIPTION & SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Advertising Expense	$ 35,100	$ 34,500	$ 18,800
Interest Paid, Net	143,332	119,322	123,031
Income taxes paid (received), net	5,695	9,585	836
Interest Paid, Capitalized	6,031	10,112	5,590
Acquired equipment	24,614	20,592	13,888
Accrued capital expenditures	$ 33,300	$ 34,100	$ 52,900

REVENUE (Details)

REVENUE (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
REVENUE (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disaggregation of Revenue [Line Items]
Total operating revenues	$ 275,178	$ 283,654	$ 275,162	$ 276,126	$ 295,976	$ 296,619	$ 298,390	$ 300,278	$ 1,110,120	$ 1,191,263	$ 1,282,233
Receivables, contract assets and contract liabilities
Accounts receivable, net	121,194				119,675				121,194	119,675
Contract assets	38,910				25,322				38,910	25,322
Contract liabilities	$ 56,967				$ 54,537				56,967	54,537
Recognized expenses related to deferred contract acquisition costs.									13,700	12,900	11,100
Revenue recognized from beginning of year and current period increase in contract liability									$ 447,900	478,900	471,700
Revenue, Practical Expedient, Remaining Performance Obligation									true
Minimum
Receivables, contract assets and contract liabilities
Payment term									30 days
Maximum
Receivables, contract assets and contract liabilities
Payment term									60 days
Consumer
Disaggregation of Revenue [Line Items]
Total operating revenues									$ 450,970	471,152	495,135
Consumer - Broadband (Data and VoIP)
Disaggregation of Revenue [Line Items]
Total operating revenues									290,847	272,146	269,323
Consumer - Voice services
Disaggregation of Revenue [Line Items]
Total operating revenues									125,166	144,853	160,698
Consumer - Video services
Disaggregation of Revenue [Line Items]
Total operating revenues									34,957	54,153	65,114
Commercial
Disaggregation of Revenue [Line Items]
Total operating revenues									382,499	413,840	423,530
Commercial - Data services (including VoIP)
Disaggregation of Revenue [Line Items]
Total operating revenues									214,707	228,466	228,931
Commercial - Voice services
Disaggregation of Revenue [Line Items]
Total operating revenues									127,909	142,274	154,567
Commercial - Other
Disaggregation of Revenue [Line Items]
Total operating revenues									39,883	43,100	40,032
Carrier
Disaggregation of Revenue [Line Items]
Total operating revenues									144,004	153,838	152,209
Carrier - Data and transport services
Disaggregation of Revenue [Line Items]
Total operating revenues									127,248	137,378	133,434
Carrier - Voice services
Disaggregation of Revenue [Line Items]
Total operating revenues									15,588	14,772	17,183
Carrier - Other
Disaggregation of Revenue [Line Items]
Total operating revenues									1,168	1,688	1,592
Subsidies
Disaggregation of Revenue [Line Items]
Total operating revenues									27,888	33,382	69,739
Network access
Disaggregation of Revenue [Line Items]
Total operating revenues									90,250	104,644	120,487
Other products and services
Disaggregation of Revenue [Line Items]
Total operating revenues									$ 14,509	$ 14,407	$ 21,133

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Basic and diluted earnings per share attributable to common shareholders
Loss from continuing operations	$ (47,285)	$ (57,720)	$ (108,092)	$ (36,961)	$ (40,760)	$ (7,257)	$ (10,591)	$ (119,096)	$ (250,058)	$ (177,704)	$ (139,127)
Less: dividends on Series A preferred stock									43,910	40,104	2,677
Less: net income attributable to noncontrolling interest									456	564	392
Loss attributable to common shareholders before allocation of earnings to participating securities									(294,424)	(218,372)	(142,196)
Less: earnings allocated to participating securities										(6,284)
Loss from continuing operations attributable to common shareholders, after earnings allocated to participating securities									(294,424)	(212,088)	(142,196)
Income from discontinued operations										318,353	32,434
Less: earnings allocated to participating securities										9,161
Income from discontinued operations attributable to common shareholders, after earnings allocated to participating securities										309,192	32,434
Net income (loss) attributable to common shareholders, after earnings allocated to participating securities									$ (294,424)	$ 97,104	$ (109,762)
Weighted-average number of common shares outstanding, basic									113,096	111,754	87,293
Weighted-average number of common shares outstanding, diluted									113,096	111,754	87,293
Loss from continuing operations - Basic	$ (0.52)	$ (0.61)	$ (1.05)	$ (0.42)	$ (0.46)	$ (0.15)	$ (0.18)	$ (1.15)	$ (2.60)	$ (1.90)	$ (1.63)
Loss from continuing operations - Diluted	(0.52)	(0.61)	(1.05)	(0.42)	(0.46)	(0.15)	(0.18)	(1.15)	(2.60)	(1.90)	(1.63)
Income from discontinued operations - Basic					0.05	2.60	0.08	0.03		2.77	0.37
Income from discontinued operations - Diluted					0.05	2.60	0.08	0.03		2.77	0.37
Net loss per basic common shares attributable to common shareholders	(0.52)	(0.61)	(1.05)	(0.42)	(0.41)	2.45	(0.10)	(1.12)	(2.60)	0.87	(1.26)
Net loss per diluted common shares attributable to common shareholders	$ (0.52)	$ (0.61)	$ (1.05)	$ (0.42)	$ (0.41)	$ 2.45	$ (0.10)	$ (1.12)	$ (2.60)	$ 0.87	$ (1.26)
Common shares excluded from computation of potentially dilutive shares because of anti-dilutive effect									3,200	3,300	3,200
Series A preferred stock
Basic and diluted earnings per share attributable to common shareholders
Less: dividends on Series A preferred stock									$ 43,910	$ 40,104	$ 2,677

SEARCHLIGHT INVESTMENT (Details

SEARCHLIGHT INVESTMENT (Details) $ / shares in Units, $ in Thousands						12 Months Ended
	Dec. 07, 2021 USD ($) $ / shares shares	Jul. 16, 2021 shares	Jul. 15, 2021	Oct. 02, 2020 USD ($) shares	Sep. 13, 2020 USD ($) item	Dec. 31, 2023 USD ($) item $ / shares	Dec. 31, 2022 USD ($) item $ / shares	Dec. 31, 2021 USD ($) item
Investment Holdings [Line Items]
Temporary equity, par value (in dollars per share) \| $ / shares						$ 0.01	$ 0.01
Change in fair value of contingent payment rights								$ (86,476)
Carrying value						$ 2,142,858
Unamortized discount						7,017
Deferred debt issuance costs						$ 28,757	$ 34,626
Series A preferred stock
Investment Holdings [Line Items]
Series A preferred stock issued (in shares) \| shares	434,266
Temporary equity, par value (in dollars per share) \| $ / shares						$ 0.01
Preferred stock dividend rate						9%
Liquidation preference per share \| $ / shares						$ 1,000
Searchlight
Investment Holdings [Line Items]
Change in fair value of contingent payment rights								(86,500)
Investment Agreement \| Searchlight
Investment Holdings [Line Items]
Number of stages \| item					2
Proceeds from issuance of shares				$ 350,000
Number of shares issued \| shares				6,352,842
Percentage of share issued				8%
Additional shares upon conversion of contingent payment right \| shares	15,115,899	17,870,012		17,870,012
Percentage of additional shares approved after conversion of CPR	10.10%		16.90%	16.90%
Percentage of stock on an as-converted basis						34%	34%
Series A preferred stock issued (in shares) \| shares	434,266
Temporary equity, par value (in dollars per share) \| $ / shares	$ 0.01
Debt term (in years)				10 years
Aggregate principal amount				$ 395,500
Investment Agreement \| Searchlight \| Subordinated Debt
Investment Holdings [Line Items]
Series A preferred stock issued (in shares) \| shares	434,266
Interest rate (as a percent)				9%
Preferred stock dividend rate						9%
Period of PIK option (in years)				5 years
Carrying value	$ 285,900
Unamortized discount	139,700
Deferred debt issuance costs	$ 8,700
Paid-in-Kind interest								$ 38,800
Liquidation preference per share \| $ / shares	$ 1,000
Investment Agreement \| Searchlight \| Maximum \| Subordinated Debt
Investment Holdings [Line Items]
Capital commitment					$ 425,000
Fiber Build Plan
Investment Holdings [Line Items]
Number of passings across select service areas \| item					1,600,000
Number of homes and small businesses upgraded \| item						227,500	403,000	330,000

DIVESTITURES - Washington Opera

DIVESTITURES - Washington Operations (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Jul. 10, 2023
Divestitures
Impairment loss on assets held for sale	$ 77,755	$ 131,698	$ 5,704
Disposal Group, Held-for-sale, Not Discontinued Operations \| Consolidated Communications of Comerco Company, Washington
Divestitures
Cash consideration				$ 73,000
Fair value of assets held for sale	67,100
Impairment loss on assets held for sale	$ 77,800

DIVESTITURES - Major Classes of

DIVESTITURES - Major Classes of Assets and Liabilities (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Major classes of assets and liabilities
Current assets	$ 70,473
Current liabilities	3,402
Disposal Group, Held-for-sale, Not Discontinued Operations \| Consolidated Communications of Comerco Company, Washington
Major classes of assets and liabilities
Current assets	1,208
Property, plant and equipment	30,581
Goodwill	114,946
Other long-term assets	1,493
Impairment to net realizable value	(77,755)
Total assets	70,473
Current liabilities	2,196
Other long-term liabilities	1,206
Total liabilities	$ 3,402

DIVESTITURES - Kansas City Oper

DIVESTITURES - Kansas City Operations (Details) $ in Thousands		3 Months Ended		12 Months Ended
	Nov. 30, 2022 USD ($) customer	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Divestitures
Impairment loss on assets held for sale				$ 77,755	$ 131,698	$ 5,704
Proceeds from sale of assets				5,954	22,918	$ 3,469
Gain (loss) on disposal of assets				(9,480)	(4,233)
Tower Assets
Divestitures
Proceeds from sale of assets					21,000
Gain (loss) on disposal of assets					20,800
Disposal Group, Held-for-sale, Not Discontinued Operations \| Kansas City operations
Divestitures
Gain (loss) on disposal		$ 3,100	$ (16,800)
Disposal Group, Disposed of by Sale, Not Discontinued Operations \| Kansas City operations
Divestitures
Number of consumer customers \| customer	17,100
Number of commercial customers \| customer	1,600
Impairment loss on assets held for sale					131,700
Proceeds from sale of assets	$ 82,100
Gain (loss) on disposal				$ (1,600)	$ (16,800)
Loss on Disposal, Statements of Operations Location				Gain (loss) on disposal of assets	Gain (loss) on disposal of assets

DIVESTITURES - Ohio Operations

DIVESTITURES - Ohio Operations (Details) $ in Thousands	12 Months Ended
DIVESTITURES - Ohio Operations (Details) $ in Thousands	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Jan. 31, 2022 USD ($) item
Divestitures
Impairment loss on assets held for sale	$ 77,755	$ 131,698	$ 5,704
Disposal Group, Disposed of by Sale, Not Discontinued Operations \| Assets of non-core, rural ILEC business located in Ohio
Divestitures
Cash consideration				$ 26,100
Number of rural communities providing telecommunications and data services \| item				11
Number of access lines \| item				3,800
Number of data connections \| item				3,900
Impairment loss on assets held for sale			$ 5,700
Loss on disposal		$ 800
Loss on Disposal, Statements of Operations Location		Selling, general and administrative expenses

INVESTMENTS (Details)

INVESTMENTS (Details) $ in Thousands	3 Months Ended				12 Months Ended
INVESTMENTS (Details) $ in Thousands	Dec. 31, 2022 USD ($)	Sep. 30, 2022 USD ($)	Jun. 30, 2022 USD ($)	Mar. 31, 2022 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Sep. 13, 2022 USD ($) item
Investments
Investment income					$ 6,100	$ 400	$ 500
Investments
Held-to-maturity debt securities	$ 87,951					87,951
Cash surrender value of life insurance policies	2,774				2,860	2,774
Total	10,297				8,887	10,297
Discontinued operations, additional information
Number of entity's investments which is accounted for using equity method \| item								3
Number of investments which a portion of interest was sold \| item								1
Investment income						23,467	41,845
Gain on sale of discontinued operations						389,885
Income tax expense						94,999	9,411
Recognized state income taxes	11,200					11,200
Income from discontinued operations	5,793	$ 299,934	$ 9,079	$ 3,547		318,353	32,434
Taxable gain on sale						479,900
Discontinued Operations, Previously Recorded At Cost
Investments
Cash distributions received from partnerships treated as investments at cost						11,700	20,700
GTE Mobilnet of South Texas Limited Partnership
Discontinued operations, additional information
Ownership percentage of investments at cost								2.34%
Pittsburgh SMSA Limited Partnership
Discontinued operations, additional information
Ownership percentage of investments at cost								3.60%
Discontinued Operations, Previously Recorded Via The Equity Method
Discontinued operations, additional information
Cash distributions received from partnerships treated as equity method investees						17,500	22,300
Minimum
Discontinued operations, additional information
Recognized state income taxes	11,200					11,200
Disposed of by Sale
Discontinued operations, additional information
Number of wireless partnerships \| item								5
Discontinued operation, consideration								$ 490,000
Investment income						23,467	41,845
Gain on sale of discontinued operations						389,885
Income from discontinued operations, before income taxes						413,352	41,845
Income tax expense						94,999	9,411
Income from discontinued operations						318,353	32,434
Cash provided by operating activities - discontinued operations						29,165	$ 43,040
Cash provided by investing activities - discontinued operations						482,966
Short-term investments.
Investments
Investments in commercial paper	88,000					88,000
CoBank, ACB Stock
Investments
Investments at cost	7,250				5,755	7,250
Other
Investments
Investments at cost	$ 273				$ 272	$ 273
GTE Mobilnet of Texas RSA #17 Limited Partnership \| GTE Mobilnet of Texas RSA #17 Limited Partnership
Discontinued operations, additional information
Ownership percentage of equity method investee								20.51%
Pennsylvania RSA 6(I) Limited Partnership \| Pennsylvania RSA 6(I) Limited Partnership
Discontinued operations, additional information
Ownership percentage of equity method investee								16.67%
Pennsylvania RSA 6(II) Limited Partnership \| Pennsylvania RSA 6(II) Limited Partnership
Discontinued operations, additional information
Ownership percentage of equity method investee								23.67%

FAIR VALUE MEASUREMENTS - Finan

FAIR VALUE MEASUREMENTS - Financial Instruments (Details) - Recurring - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Fair Value Measurements
Current interest rate swap assets		$ 5,959
Long-term interest rate swap liabilities	$ (2,421)
Significant Other Observable Inputs (Level 2)
Fair Value Measurements
Current interest rate swap assets		$ 5,959
Long-term interest rate swap liabilities	$ (2,421)

FAIR VALUE MEASUREMENTS - Fin_2

FAIR VALUE MEASUREMENTS - Financial Instruments Not Carried at FV (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Carrying Value
Fair Value Measurements
Long-term debt, excluding finance leases	$ 2,142,858	$ 2,141,176
Fair Value
Fair Value Measurements
Long-term debt, excluding finance leases	$ 1,903,831	$ 1,759,430

LONG-TERM DEBT (Details)

LONG-TERM DEBT (Details) $ in Thousands

12 Months Ended

Apr. 17, 2023

Nov. 22, 2022

Apr. 05, 2021 USD ($)

Mar. 18, 2021 USD ($)

Oct. 02, 2020 USD ($)

Dec. 31, 2023 USD ($)

Dec. 31, 2022 USD ($)

Dec. 31, 2021 USD ($)

Dec. 31, 2020 USD ($)

Mar. 05, 2024 USD ($)

Oct. 15, 2023 USD ($)

Nov. 21, 2022

Jan. 15, 2021 USD ($)

Debt

Total long-term debt and finance leases

$ 2,182,098

$ 2,176,922

Less: current portion of long-term debt and finance leases

(18,425)

(12,834)

Less: deferred debt issuance costs

(28,757)

(34,626)

Total long-term debt

2,134,916

$ 2,129,462

Unamortized discount

$ 7,017

Repayment of debt

$ 397,000

Gain (loss) on extinguishment of debt

(17,101)

Maximum

Debt

Leverage ratio for an event of default

7.75

Senior Secured Credit Facility

Debt

Leverage ratio

6.22

Covenant testing threshold

35%

Senior Secured Credit Facility | Weighted average

Debt

Weighted average interest rate (as a percent)

8.96%

7.63%

Term Loans

Debt

Total long-term debt and finance leases

$ 992,858

$ 991,176

Unamortized discount

$ 7,017

8,699

Aggregate principal amount

$ 1,250,000

Interest rate (as a percent)

4.75%

Quarterly principal payments required

$ 3,100

Issue discount (as a percentage)

1.50%

Variable rate basis, floor (as a percent)

Original issuance discount

$ 18,800

Repayment of debt

$ 397,000

Gain (loss) on extinguishment of debt

(12,000)

Senior secured credit facility - revolving loan

Debt

Maximum borrowing capacity of credit facility

$ 250,000

Leverage ratio

3.20

Amounts outstanding

$ 0

$ 70,000

Stand-by letter of credit outstanding

35,700

Available borrowing capacity

$ 214,300

Reduction of spread on variable rate

0.25%

Senior secured credit facility - revolving loan | SOFR | Maximum

Debt

Margin (as a percent)

Senior secured credit facility - revolving loan | Alternate base rate | Maximum

Debt

Margin (as a percent)

Finance leases

Debt

Total long-term debt and finance leases

$ 39,240

35,746

Incremental Term Loan Facility

Debt

Aggregate principal amount

$ 150,000

Leverage ratio

3.70

Incremental Term Loan Facility | Maximum

Debt

Additional borrowing capacity

$ 300,000

6.50% senior secured notes due 2028

Debt

Total long-term debt and finance leases

$ 750,000

Aggregate principal amount

$ 750,000

Interest rate (as a percent)

6.50%

5.00% senior secured notes due 2028

Debt

Total long-term debt and finance leases

$ 400,000

Aggregate principal amount

$ 400,000

Interest rate (as a percent)

Repayments of long-term debt

$ 397,000

Second Amendment

Debt

Aggregate principal amount

$ 999,900

Interest rate (as a percent)

3.50%

Variable rate basis, floor (as a percent)

0.75%

Gain (loss) on extinguishment of debt

$ (5,100)

Third Amendment

Debt

Debt Instrument, Extension Term

2 years

Third Amendment | Maximum

Debt

Leverage ratio for an event of default

6.35

5.85

Fourth Amendment | Maximum

Debt

Leverage ratio

6.35

Fourth Amendment | SOFR

Debt

Interest rate (as a percent)

3.50%

Variable rate basis, floor (as a percent)

0.75%

Fourth Amendment | One month SOFR

Debt

Additional rate

0.11%

Fourth Amendment | Three month SOFR

Debt

Additional rate

0.26%

Fourth Amendment | Six month SOFR

Debt

Additional rate

0.43%

Fifth Amendment

Debt

Future equity contribution required

$ 300,000

Fifth Amendment | Maximum | Effective date from and including the Amendment No. 5 Effective Date (as defined in the Fifth Amendment) to and including December 31, 2024

Debt

Leverage ratio

7.75

Fifth Amendment | Maximum | Effective date from and including January 1, 2025 to and including March 31, 2025

Debt

Leverage ratio

7.50

Fifth Amendment | Maximum | Effective date from and including April 1, 2025 to and including June 30, 2025

Debt

Leverage ratio

7.25

Fifth Amendment | Maximum | Effective date from and including July 1, 2025 to and including September 30, 2025

Debt

Leverage ratio

Fifth Amendment | Maximum | Effective date from and including October 1, 2025 to and including December 31, 2025

Debt

Leverage ratio

6.75

Fifth Amendment | Maximum | Effective date from and including January 1, 2026 to and including March 31, 2026

Debt

Leverage ratio

6.50

Fifth Amendment | Maximum | Effective date from and including April 1, 2026 to and including June 30, 2026

Debt

Leverage ratio

6.25

Fifth Amendment | Maximum | Effective date from and including July 1, 2026 to and including September 30, 2026

Debt

Leverage ratio

Fifth Amendment | Maximum | Effective date from and including October 1, 2026 and thereafter

Debt

Leverage ratio

5.85

LONG-TERM DEBT - Future Maturit

LONG-TERM DEBT - Future Maturities (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Aggregate maturities of our long-term debt
2027	$ 999,875
2028	1,150,000
Total maturities	2,149,875
Less: Unamortized discount	(7,017)
Carrying value	$ 2,142,858

DERIVATIVE FINANCIAL INSTRUME_3

DERIVATIVE FINANCIAL INSTRUMENTS - Interest Rate Swaps (Details) $ in Thousands	Dec. 31, 2023 USD ($) item	Dec. 31, 2022 USD ($)
Derivatives
Number of swap agreements that provide for the entity or the counterparties to post collateral \| item	0
Cash flow hedges \| Fixed to 1-month floating SOFR
Derivatives
Derivative, Notional Amount	$ 500,000
Long-term interest rate swap liabilities	$ (2,421)
Derivative Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Other Liabilities and Derivative Liabilities, Noncurrent
Fixed interest rate (as a percent)	3.941%
Cash flow hedges \| Fixed to 1-month floating LIBOR (with floor)
Derivatives
Derivative, Notional Amount		$ 500,000
Current interest rate swap assets		$ 5,959
Derivative Asset, Current, Statement of Financial Position [Extensible Enumeration]		Prepaid Expense and Other Assets, Current

DERIVATIVE FINANCIAL INSTRUME_4

DERIVATIVE FINANCIAL INSTRUMENTS - Effect of Interest Rate Derivatives (Details) - Interest rate swaps - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Derivative Instruments
Derivatives
Deferred gain (loss) included in AOCI (pretax)	$ (2,400)	$ 6,900
Gain included in AOCI to be recognized in the next 12 months	4,300
Cash flow hedges
Derivatives
Unrealized gain recognized in AOCI, pretax	626	14,726	$ 1,174
Deferred gain (loss) reclassified from AOCI to interest expense	$ 9,997	$ (2,328)	$ (13,964)

LEASES - Lease right-of use ass

LEASES - Lease right-of use assets and liabilities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Lessee, Lease, Description [Line Items]
Operating lease right-of-use assets	$ 29,437	$ 26,548
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Other Assets, Noncurrent	Other Assets, Noncurrent
Current lease liabilities	$ (8,256)	$ (5,076)
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	Accrued Liabilities, Current	Accrued Liabilities, Current
Noncurrent lease liabilities	$ (23,567)	$ (22,249)
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Other Liabilities and Derivative Liabilities, Noncurrent	Other Liabilities and Derivative Liabilities, Noncurrent
Finance lease right-of-use assets, net of accumulated depreciation of $14,408 and $15,308	$ 57,165	$ 42,773
Finance Lease Right Of Use Asset Accumulated Depreciation	$ 14,408	$ 15,308
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Property Plant and Equipment Continuing Operations, Net	Property Plant and Equipment Continuing Operations, Net
Current lease liabilities	$ (18,425)	$ (12,834)
Finance Lease, Liability, Current, Statement of Financial Position [Extensible List]	Long-term Debt and Capital Lease Obligations, Current	Long-term Debt and Capital Lease Obligations, Current
Noncurrent lease liabilities	$ (20,815)	$ (22,912)
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Long-term Debt and Capital Lease Obligations	Long-term Debt and Capital Lease Obligations
Operating leases, Weighted-average remaining lease term	6 years 8 months 12 days	7 years 8 months 12 days
Finance leases, Weighted-average remaining lease term	2 years 9 months 18 days	3 years 6 months
Operating leases, Weighted-average discount rate	8.14%	6.47%
Finance leases, Weighted-average discount rate	9.30%	6.60%
Minimum
Lessee, Lease, Description [Line Items]
Operating Lease, Remaining Term of Contract	1 year
Operating Lease, Renewal Term	1 year
Maximum
Lessee, Lease, Description [Line Items]
Operating Lease, Remaining Term of Contract	85 years
Operating Lease, Renewal Term	5 years

LEASES - Components of lease ex

LEASES - Components of lease expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
LEASES
Amortization of right-of-use assets	$ 5,768	$ 4,804	$ 4,152
Interest on lease liabilities	3,374	1,444	1,106
Operating lease cost	8,017	8,469	8,359
Variable lease cost	1,790	2,167	2,054
Total lease cost	$ 18,949	$ 16,884	$ 15,671

LEASES - Supplemental cash info

LEASES - Supplemental cash information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
LEASES
Operating cash flows for operating leases	$ 7,874	$ 8,003	$ 8,111
Operating cash flows for finance leases	3,374	1,444	1,106
Financing cash flows for finance leases	15,338	9,836	6,365
Right-of-use assets obtained in exchange for new lease liabilities: Operating leases	10,052	9,261	5,673
Right-of-use assets obtained in exchange for new lease liabilities: Finance leases	$ 24,614	$ 20,592	$ 13,888

LEASES - Maturities of lease li

LEASES - Maturities of lease liabilities (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Operating Leases
2024	$ 10,235
2025	6,723
2026	5,050
2027	4,346
2028	3,374
Thereafter	11,568
Total lease payments	41,296
Less: Interest	(9,473)
Operating lease liabilities	31,823
Finance Leases
2024	21,217
2025	15,465
2026	4,870
2027	363
2028	294
Thereafter	1,886
Total lease payments	44,095
Less: Interest	(4,855)
Finance lease liabilities	$ 39,240

LEASES - Lessor (Details)

LEASES - Lessor (Details) $ in Millions	12 Months Ended
LEASES - Lessor (Details) $ in Millions	Dec. 31, 2022 USD ($)
Lessor
Lessor, revenue recognized	$ 3.8
Sales-Type Lease, Lease Income, Statement of Income or Comprehensive Income [Extensible Enumeration]	Revenue from Contract with Customer, Excluding Assessed Tax
Lessor gain	$ 1.5

MEZZANINE EQUITY (Details)

MEZZANINE EQUITY (Details) $ / shares in Units, $ in Thousands			12 Months Ended
	Nov. 22, 2022	Dec. 07, 2021 USD ($) shares	Dec. 31, 2023 USD ($) director Vote item $ / shares shares	Dec. 31, 2022 USD ($) $ / shares shares
Temporary Equity [Line Items]
Temporary equity, shares authorized \| shares			10,000,000	10,000,000
Temporary equity, par value (in dollars per share) \| $ / shares			$ 0.01	$ 0.01
Temporary equity, liquidation preference			$ 520,957	$ 477,047
Cash payment waived duration	2 years
Series A preferred stock
Temporary Equity [Line Items]
Temporary equity, shares authorized \| shares			10,000,000
Temporary equity, par value (in dollars per share) \| $ / shares			$ 0.01
Preferred stock dividend rate			9%
Liquidation preference per share \| $ / shares			$ 1,000
Number of votes per preferred stock \| Vote			1
Entitlement of preferred stock holder to appoint director. \| director			2
Series A preferred stock issued		$ 285,900
Series A preferred stock issued (in shares) \| shares		434,266
Temporary equity, liquidation preference			$ 521,000	477,000
Number of dividend payment periods \| item			2
Dividend paid in kind (Value)			$ 42,200	22,100
Accrued and unpaid dividends			$ 22,400	$ 20,700
Series A preferred stock \| Board of directors fails to declare and pay dividends
Temporary Equity [Line Items]
Preferred stock dividend rate			11%

SHAREHOLDERS' EQUITY (Details)

SHAREHOLDERS' EQUITY (Details) - USD ($)		12 Months Ended
SHAREHOLDERS' EQUITY (Details) - USD ($)	Feb. 26, 2023	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Stock-based compensation plans
Additional shares of common stock authorized	5,280,000
Shares of common stock authorized for issuance		15,330,000
Shares
Shares granted		2,065,738	1,936,434	1,729,802
Total fair value of the awards vested		$ 11,800,000	$ 8,100,000	$ 7,300,000
Weighted Average Grant Date Fair Value
Income tax benefits related to stock-based compensation		2,000,000	$ 2,800,000	$ 2,600,000
Unrecognized share-based compensation
Unrecognized compensation cost		$ 10,400,000
Weighted-average period of recognition		1 year 7 months 6 days
Employee Stock Option \| Eligible Employees
Stock-based compensation plans
Shares that may be granted in the form of stock options or stock appreciation rights		300,000
Employee Stock Option \| Nonemployee
Stock-based compensation plans
Shares that may be granted in the form of stock options or stock appreciation rights		25,000
Stock Appreciation Rights (SARs) \| Eligible Employees
Stock-based compensation plans
Shares that may be granted in the form of stock options or stock appreciation rights		300,000
Stock Appreciation Rights (SARs) \| Nonemployee
Stock-based compensation plans
Shares that may be granted in the form of stock options or stock appreciation rights		25,000
Stock awards and stock unit awards \| Eligible Employees
Stock-based compensation plans
Fair value of share-based awards and stock units awards that may be granted		$ 6,000,000
Stock awards and stock unit awards \| Nonemployee
Stock-based compensation plans
Fair value of share-based awards and stock units awards that may be granted		$ 500,000
Restricted stock
Stock-based compensation plans
Vesting period		4 years
Shares
Non-vested shares outstanding at the beginning of the period		1,185,980
Shares granted		1,695,071	1,031,999	941,748
Shares vested		(1,114,904)
Shares forfeited, cancelled or retired		(274,150)
Non-vested shares outstanding at the end of the period		1,491,997	1,185,980
Weighted Average Grant Date Fair Value
Non-vested shares outstanding at the beginning of the period (in dollars per share)		$ 5.84
Shares granted (in dollars per share)		3.02	$ 4.70	$ 7.51
Shares vested (in dollars per share)		4.44
Shares forfeited, cancelled or retired (in dollars per share)		5.33
Non-vested shares outstanding at the end of the period (in dollars per share)		$ 3.78	$ 5.84
Performance shares
Stock-based compensation plans
Vesting period		4 years
Shares
Non-vested shares outstanding at the beginning of the period		1,464,058
Shares granted		370,667	904,435	788,054
Shares vested		(922,359)
Shares forfeited, cancelled or retired		(221,544)
Non-vested shares outstanding at the end of the period		690,822	1,464,058
Weighted Average Grant Date Fair Value
Non-vested shares outstanding at the beginning of the period (in dollars per share)		$ 7.07
Shares granted (in dollars per share)		5.41	$ 7.52	$ 6.31
Shares vested (in dollars per share)		7.40
Shares forfeited, cancelled or retired (in dollars per share)		7.61
Non-vested shares outstanding at the end of the period (in dollars per share)		$ 7.28	$ 7.07
Performance shares \| Certain senior executives
Stock-based compensation plans
Vesting period		3 years
Percentage of shares increase (decrease)		25%
Performance shares \| Minimum
Stock-based compensation plans
Payout opportunity as a percentage of the target		0%
Performance shares \| Minimum \| Certain senior executives
Stock-based compensation plans
Payout opportunity as a percentage of the target		0%	0%	0%
Performance shares \| Maximum
Stock-based compensation plans
Payout opportunity as a percentage of the target		150%
Performance shares \| Maximum \| Certain senior executives
Stock-based compensation plans
Payout opportunity as a percentage of the target		150%	150%	120%
Performance shares \| Performance Conditions Not Met
Shares
Non-vested shares outstanding at the end of the period		2,000,000
Weighted Average Grant Date Fair Value
Non-vested shares outstanding at the end of the period (in dollars per share)		$ 3.48
Performance shares \| Performance Conditions Not Met \| Minimum
Stock-based compensation plans
Vesting period		1 year
Payout opportunity as a percentage of the target		0%
Performance shares \| Performance Conditions Not Met \| Maximum
Stock-based compensation plans
Vesting period		3 years
Payout opportunity as a percentage of the target		150%

SHAREHOLDERS' EQUITY - Compensa

SHAREHOLDERS' EQUITY - Compensation costs (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Stock-based compensation plans
Stock-based compensation expense	$ 7,613	$ 10,755	$ 10,097
Restricted stock
Stock-based compensation plans
Stock-based compensation expense	4,506	5,296	5,478
Performance shares
Stock-based compensation plans
Stock-based compensation expense	$ 3,107	$ 5,459	$ 4,619

SHAREHOLDERS' EQUITY - Changes

SHAREHOLDERS' EQUITY - Changes in AOCI (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Accumulated other comprehensive loss, net of tax, by component
Balance at the beginning of the period	$ (610)	$ (59,571)
Other comprehensive gain before reclassifications	(14,202)	58,002
Amounts reclassified from accumulated other comprehensive loss	(7,060)	959
Net current period other comprehensive income (loss)	(21,262)	58,961	$ 49,847
Balance at the end of the period	(21,872)	(610)	(59,571)
Pension and Post-Retirement Obligations
Accumulated other comprehensive loss, net of tax, by component
Balance at the beginning of the period	(5,738)	(52,099)
Other comprehensive gain before reclassifications	(14,664)	47,123
Amounts reclassified from accumulated other comprehensive loss	318	(762)
Net current period other comprehensive income (loss)	(14,346)	46,361
Balance at the end of the period	(20,084)	(5,738)	(52,099)
Derivative Instruments
Accumulated other comprehensive loss, net of tax, by component
Balance at the beginning of the period	5,128	(7,472)
Other comprehensive gain before reclassifications	462	10,879
Amounts reclassified from accumulated other comprehensive loss	(7,378)	1,721
Net current period other comprehensive income (loss)	(6,916)	12,600
Balance at the end of the period	$ (1,788)	$ 5,128	$ (7,472)

SHAREHOLDERS' EQUITY - Reclassi

SHAREHOLDERS' EQUITY - Reclassification from AOCI (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
EQUITY
Settlement loss	$ (6,400)
Loss from continuing operations before income taxes		$ (301,665)	$ (204,762)	$ (142,259)
Interest expense		(151,964)	(124,978)	(175,195)
Tax benefit (expense)		51,607	27,058	3,132
Net income (loss)		(250,058)	140,649	$ (106,693)
Pension and Post-Retirement Obligations
EQUITY
Prior service credit		529	777
Actuarial gain (loss)		5,447	254
Settlement loss		(6,402)
Loss from continuing operations before income taxes		(426)	1,031
Tax benefit (expense)		108	(269)
Net income (loss)		(318)	762
Derivative Instruments
EQUITY
Interest expense		9,997	(2,328)
Tax benefit (expense)		(2,619)	607
Net income (loss)		$ 7,378	$ (1,721)

PENSION PLANS AND OTHER POST-RE

PENSION PLANS AND OTHER POST-RETIREMENT BENEFITS - Defined Benefit Plans (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Amounts recognized in the consolidated balance sheets
Long-term liabilities	$ (137,616)	$ (137,616)	$ (123,644)
Components of net periodic pension costs
Plan settlement	6,400
Defined Benefit Plans
Change in benefit obligation
Benefit obligation at the beginning of the year		538,968	744,463
Interest cost		29,150	22,273	$ 22,758
Actuarial loss (gain)		16,254	(197,697)
Benefits paid		(27,927)	(30,071)
Plan settlement		(41,643)
Benefit obligation at the end of the year	514,802	514,802	538,968	744,463
Change in plan assets
Fair value of plan assets at the beginning of the year		464,757	617,540
Employer contributions		255	10,055
Actual return on plan assets		29,363	(132,767)
Benefits paid		(27,927)	(30,071)
Plan settlement		(41,643)
Fair value of plan assets at the end of the year	424,805	424,805	464,757	617,540
Funded status at year end	(89,997)	(89,997)	(74,211)
Amounts recognized in the consolidated balance sheets
Current liabilities	(235)	(235)	(236)
Long-term liabilities	(89,762)	(89,762)	(73,975)
Amounts recognized in accumulated other comprehensive loss
Unamortized prior service cost (credit)	563	563
Unamortized net actuarial loss (gain)	72,432	72,432
Total	$ 72,995	72,995
Components of net periodic pension costs
Interest cost		29,150	22,273	22,758
Expected return on plan assets		(31,023)	(36,535)	(36,997)
Net amortization (gain) loss		273	730	2,309
Net prior service cost (credit) amortization		122	123	122
Plan settlement		6,402		5,864
Net periodic pension cost (benefit)		4,924	(13,409)	$ (5,944)
Changes in plan assets and benefit obligations recognized in other comprehensive loss, before tax effects
Actuarial loss (gain), net		17,914	(28,395)
Recognized actuarial gain (loss)		(273)	(730)
Recognized prior service (cost) credit		(122)	(123)
Plan settlement		(6,402)
Total amount recognized in other comprehensive loss, before tax effects		$ 11,117	$ (29,248)
Weighted-average assumptions used to determine the projected benefit obligations and net periodic benefit cost
Discount rate - net periodic benefit cost (as a percent)		5.65%	3.05%	2.81%
Discount rate - benefit obligation (as a percent)	5.34%	5.34%	5.63%	3.05%
Expected long-term rate of return on plan assets (as a percent)		7%	6%	6%
Interest crediting rate for cash balance plans (as a percent)		4.75%	4%	2%
Post-retirement Benefit Obligations
Change in benefit obligation
Benefit obligation at the beginning of the year		$ 56,223	$ 96,434
Service cost		65	658	$ 649
Interest cost		2,939	2,593	2,579
Plan participant contributions		80	447
Actuarial loss (gain)		2,708	(36,567)
Benefits paid		(7,021)	(7,342)
Plan amendments		(815)
Benefit obligation at the end of the year	$ 54,179	54,179	56,223	96,434
Change in plan assets
Fair value of plan assets at the beginning of the year		2,693	3,546
Employer contributions		6,941	6,894
Plan participant contributions		80	447
Actual return on plan assets		110	(852)
Benefits paid		(7,021)	(7,342)
Fair value of plan assets at the end of the year	2,803	2,803	2,693	3,546
Funded status at year end	(51,376)	(51,376)	(53,530)
Amounts recognized in the consolidated balance sheets
Current liabilities	(3,933)	(3,933)	(4,328)
Long-term liabilities	(47,443)	(47,443)	(49,202)
Amounts recognized in accumulated other comprehensive loss
Unamortized prior service cost (credit)	(2,129)	(2,129)	(1,965)
Unamortized net actuarial loss (gain)	(30,597)	(30,597)	(39,103)
Total	$ (32,726)	(32,726)	(41,068)
Components of net periodic pension costs
Service cost		65	658	649
Interest cost		2,939	2,593	2,579
Expected return on plan assets		(188)	(213)	(200)
Net amortization (gain) loss		(5,720)	(984)
Net prior service cost (credit) amortization		(651)	(900)	(901)
Net periodic pension cost (benefit)		(3,555)	$ 1,154	$ 2,127
Changes in plan assets and benefit obligations recognized in other comprehensive loss, before tax effects
Actuarial loss (gain), net		2,786
Recognized actuarial gain (loss)		5,720
Prior service credit		(815)
Recognized prior service (cost) credit		651
Total amount recognized in other comprehensive loss, before tax effects		$ 8,342
Weighted-average assumptions used to determine the projected benefit obligations and net periodic benefit cost
Discount rate - net periodic benefit cost (as a percent)		5.64%	2.94%	2.57%
Discount rate - benefit obligation (as a percent)	5.40%	5.40%	5.64%	2.93%
Rate of compensation/salary increase (as a percent)		2.50%	2.50%	2.50%

PENSION PLANS AND OTHER POST-_2

PENSION PLANS AND OTHER POST-RETIREMENT BENEFITS - Other Non-qualified Deferred Comp Agreements (Details)	12 Months Ended
	Dec. 31, 2023 USD ($) item	Dec. 31, 2022 USD ($)
Other Non-qualified Deferred Compensation Agreements
Minimum number of years benefits are payable	5 years
Minimum age at which payments under deferred compensation agreements may begin	55 years
Payment related to deferred compensation agreements	$ 100,000	$ 200,000
Net present value of the remaining obligations	$ 400,000	500,000
Number of life insurance policies \| item	22
Excess of cash surrender value of remaining life insurance policies over notes payable	$ 2,900,000	2,800,000
Death benefit payable	6,400,000	$ 6,300,000
New benefits accrued	$ 0

PENSION PLAN AND OTHER POST-R_3

PENSION PLAN AND OTHER POST-RETIREMENT BENEFITS - Contributions (Details)	3 Months Ended	12 Months Ended
	Dec. 31, 2023 USD ($) item employee	Dec. 31, 2023 USD ($) item employee	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($) item
Defined benefit plans
Number of non-contributory qualified defined benefit pension plans \| item		3
New benefits accrued	$ 0	$ 0
Settlement loss	(6,400,000)
Defined Benefit Plans
Defined benefit plans
New benefits accrued	0	0
Benefit obligation	514,802,000	514,802,000	$ 538,968,000	$ 744,463,000
Settlement loss		(6,402,000)		(5,864,000)
Employer contributions		255,000	10,055,000
Group annuity contract
Defined benefit plans
Benefit obligation	$ 41,600,000	$ 41,600,000		$ 47,100,000
Number of participants transferred \| item		320		400
Settlement loss		$ (6,400,000)		$ (5,900,000)
Post-retirement Benefit Obligations
Defined benefit plans
Number of persons eligible to become a new participant \| employee	0	0
Benefit obligation	$ 54,179,000	$ 54,179,000	56,223,000	$ 96,434,000
Assets in unfunded plans	$ 0	0
Employer contributions		$ 6,941,000	$ 6,894,000
Weighted-average assumptions used to determine the projected benefit obligations and net periodic benefit cost
Health care trend rate assumed for the next fiscal year (as a percent)	6.50%	6.50%
Ultimate health care cost trend rate (as a percent)	5%	5%
Supplemental Plans
Defined benefit plans
Number of non-qualified plans \| item		2
Number of persons eligible to become a new participant \| item	0	0
Assets in unfunded plans	$ 0	$ 0

PENSION PLANS AND OTHER POST-_3

PENSION PLANS AND OTHER POST-RETIREMENT BENEFITS - Plan Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Post-retirement benefit obligation
Unfunded commitments	$ 0
Minimum
Post-retirement benefit obligation
Long-term investment horizon	5 years
Minimum \| Equity Securities
Post-retirement benefit obligation
Target allocation (as a percent)	70%
Maximum
Post-retirement benefit obligation
Redemption notice period	180 days
Long-term investment horizon	15 years
Maximum \| Equity Securities
Post-retirement benefit obligation
Target allocation (as a percent)	90%
Defined Benefit Plans
Post-retirement benefit obligation
Other liabilities		$ (3)
Net plan assets	$ 424,805	464,757	$ 617,540
Benefit payments expected to be paid
2024	31,195
2025	32,150
2026	33,082
2027	34,063
2028	34,876
2029-2033	177,516
Defined Benefit Plans \| Fair Value Level 1 and Level 2
Post-retirement benefit obligation
Total plan assets	28	61
Defined Benefit Plans \| Quoted Prices In Active Markets for Identical Assets (Level 1)
Post-retirement benefit obligation
Total plan assets	28	61
Defined Benefit Plans \| Cash and Cash Equivalents [Member]
Post-retirement benefit obligation
Total plan assets	5	38
Defined Benefit Plans \| Cash and Cash Equivalents [Member] \| Quoted Prices In Active Markets for Identical Assets (Level 1)
Post-retirement benefit obligation
Total plan assets	5	38
Defined Benefit Plans \| U.S. common stocks \| Fair Value Level 1 and Level 2
Post-retirement benefit obligation
Total plan assets	21	21
Defined Benefit Plans \| U.S. common stocks \| Quoted Prices In Active Markets for Identical Assets (Level 1)
Post-retirement benefit obligation
Total plan assets	21	21
Defined Benefit Plans \| International stocks \| Fair Value Level 1 and Level 2
Post-retirement benefit obligation
Total plan assets	2	2
Defined Benefit Plans \| International stocks \| Quoted Prices In Active Markets for Identical Assets (Level 1)
Post-retirement benefit obligation
Total plan assets	2	2
Defined Benefit Plans \| Global \| Fair Value Measured at Net Asset Value Per Share
Post-retirement benefit obligation
Total plan assets	150,377	154,626
Defined Benefit Plans \| Real Estate \| Fair Value Measured at Net Asset Value Per Share
Post-retirement benefit obligation
Total plan assets	74,453	96,641
Defined Benefit Plans \| Fixed Income \| Fair Value Measured at Net Asset Value Per Share
Post-retirement benefit obligation
Total plan assets	142,221	137,174
Defined Benefit Plans \| Hedge Funds \| Fair Value Measured at Net Asset Value Per Share
Post-retirement benefit obligation
Total plan assets	52,082	71,519
Defined Benefit Plans \| Short-term investments. \| Fair Value Measured at Net Asset Value Per Share
Post-retirement benefit obligation
Total plan assets	5,644	4,739
Defined Benefit Plans \| Minimum
Post-retirement benefit obligation
Expected contribution in the next fiscal year	200
Defined Benefit Plans \| Maximum
Post-retirement benefit obligation
Expected contribution in the next fiscal year	500
Post-retirement Benefit Obligations
Post-retirement benefit obligation
Net plan assets	2,803	2,693	$ 3,546
Expected contribution in the next fiscal year	5,700
Benefit payments expected to be paid
2024	5,673
2025	5,074
2026	4,667
2027	4,347
2028	4,064
2029-2033	18,648
Post-retirement Benefit Obligations \| Fair Value Measured at Net Asset Value Per Share
Post-retirement benefit obligation
Total plan assets	2,890	2,758
Benefit payments payable	(87)	(65)
Net plan assets	2,803	2,693
Post-retirement Benefit Obligations \| Cash and Cash Equivalents [Member]
Post-retirement benefit obligation
Total plan assets		1
Post-retirement Benefit Obligations \| Cash and Cash Equivalents [Member] \| Quoted Prices In Active Markets for Identical Assets (Level 1)
Post-retirement benefit obligation
Total plan assets		1
Post-retirement Benefit Obligations \| Global \| Fair Value Measured at Net Asset Value Per Share
Post-retirement benefit obligation
Total plan assets	1,023	917
Post-retirement Benefit Obligations \| Real Estate \| Fair Value Measured at Net Asset Value Per Share
Post-retirement benefit obligation
Total plan assets	506	573
Post-retirement Benefit Obligations \| Fixed Income \| Fair Value Measured at Net Asset Value Per Share
Post-retirement benefit obligation
Total plan assets	968	814
Post-retirement Benefit Obligations \| Hedge Funds \| Fair Value Measured at Net Asset Value Per Share
Post-retirement benefit obligation
Total plan assets	355	425
Post-retirement Benefit Obligations \| Short-term investments. \| Fair Value Measured at Net Asset Value Per Share
Post-retirement benefit obligation
Total plan assets	$ 38	$ 28

PENSION PLANS AND OTHER POST-_4

PENSION PLANS AND OTHER POST-RETIREMENT BENEFITS - Defined Contribution Plans (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
PENSION PLAN AND OTHER POST-RETIREMENT BENEFITS
Expense with respect to 401(k) plans	$ 16.3	$ 15.8	$ 15.6

INCOME TAXES - Income tax expen

INCOME TAXES - Income tax expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Current:
Federal	$ 303	$ 199	$ 305
State	4,182	830	470
Total current expense	4,485	1,029	775
Deferred:
Federal	(46,740)	(20,983)	(3,921)
State	(9,352)	(7,104)	14
Total deferred expense (benefit)	(56,092)	(28,087)	(3,907)
Total income tax expense (benefit)	$ (51,607)	$ (27,058)	$ (3,132)
Reconciliation of the provision for income taxes computed at federal statutory rates to the effective rates
Statutory federal income tax rate (as a percent)	21%	21%	21%
State income taxes, net of federal benefit (as a percent)	5.10%	5.30%	4.70%
Searchlight investment (as a percent)			(23.30%)
Other permanent differences (as a percent)	(0.50%)	(0.70%)	(0.40%)
Change in deferred tax rate (as a percent)		1.50%	0.20%
Valuation allowance (as a percent)	(0.70%)	(0.30%)	(1.20%)
Provision to return (as a percent)	(1.20%)	0.10%	1.90%
Non deductible goodwill (as a percent)	(6.80%)	(13.40%)	(1.00%)
Other (as a percent)	0.20%	(0.30%)	0.30%
Total (as a percent)	17.10%	13.20%	2.20%
Non-current deferred tax assets:
Reserve for uncollectible accounts	$ 3,558	$ 3,032
Accrued vacation pay deducted when paid	4,350	4,501
Accrued expenses and deferred revenue	12,456	15,458
Net operating loss carryforwards	124,282	71,576
Excess interest carryforward	58,954	19,580
Pension and postretirement obligations	37,619	34,083
Share-based compensation	1,737	2,347
Derivative instruments	634
Derivative instruments		(1,815)
Tax credit carryforwards	1,010	4,282
Total	244,600	153,044
Valuation allowance	(7,805)	(8,379)
Net non-current deferred tax assets	236,795	144,665
Non-current deferred tax liabilities:
Goodwill and other intangibles	(27,316)	(36,384)
Partnership investments	270	271
Property, plant and equipment	(416,491)	(377,886)
Financing costs	(3,895)	(4,976)
Other	(11)	1
Total	(447,443)	(418,974)
Net non-current deferred taxes	$ (210,648)	$ (274,309)

INCOME TAXES - Carryforwards (D

INCOME TAXES - Carryforwards (Details) $ in Thousands	12 Months Ended
INCOME TAXES - Carryforwards (Details) $ in Thousands	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Sep. 13, 2022 item	Dec. 31, 2017 USD ($)
Income taxes
Increase (decrease) in fair value of CPR			$ 33,100
Deferred tax assets related to net operating loss carryforwards	$ 124,282	$ 71,576
Net operating loss that can be carried forward indefinitely	381,600
Deferred tax assets related to net operating loss that can be carried forward indefinitely	80,100
Net operating loss carryforward that expire in 2030 to 2035					$ 140,000
Deferred tax assets related to net operating loss carryforwards that expire in 2030 to 2035					$ 29,400
Deferred tax asset, valuation allowance	7,805	8,379
Unrecognized tax benefits	4,900	4,900
Unrecognized tax benefits that would impact effective tax rate	4,700	4,700
Taxable gain on sale		479,900
Recognized state income taxes		11,200
Disposed of by Sale
Income taxes
Number of wireless partnerships \| item				5
Disposal Group, Held-for-sale, Not Discontinued Operations \| Consolidated Communications of Comerco Company, Washington
Income taxes
Tax expense related to non deductible noncash goodwill	20,300
Disposal Group, Held-for-sale, Not Discontinued Operations \| Ohio and Kansas City operations
Income taxes
Tax expense related to non deductible noncash goodwill		27,400
Minimum
Income taxes
Recognized state income taxes		$ 11,200
State
Income taxes
Net operating loss carryforwards	534,300
Deferred tax assets related to net operating loss carryforwards	19,300
Tax credit carryforwards	1,300
Deferred tax assets related to tax credit carryforwards	1,000
Federal
Income taxes
Net operating loss carryforwards	521,700
Deferred tax assets related to net operating loss carryforwards	109,600
Federal \| ETFL
Income taxes
Net operating loss carryforwards	200
Deferred tax assets related to net operating loss carryforwards	100
Tax Years 2024 to 2043 \| State
Income taxes
Operating loss carryforwards, valuation allowance	112,800
Deferred tax asset, valuation allowance	$ 7,800

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Long-term Purchase Commitment [Line Items]
2024	$ 55,676
2025	16,283
2026	5,826
2027	3,312
2028	3,268
Thereafter	2,256
Total	86,621
Service and support agreements
Long-term Purchase Commitment [Line Items]
2024	18,559
2025	12,525
2026	2,713
2027	812
2028	820
Thereafter	505
Total	35,934
Transport and data connectivity
Long-term Purchase Commitment [Line Items]
2024	7,388
2025	1,950
2026	1,835
2027	1,846
2028	1,828
Thereafter	34
Total	14,881
Capital expenditures
Long-term Purchase Commitment [Line Items]
2024	26,745
Total	26,745
Other operating agreements
Long-term Purchase Commitment [Line Items]
2024	2,984
2025	1,808
2026	1,278
2027	654
2028	620
Thereafter	1,717
Total	$ 9,061

COMMITMENTS AND CONTINGENCIES -

COMMITMENTS AND CONTINGENCIES - Litigation (Details) $ in Millions	3 Months Ended		12 Months Ended
	Dec. 31, 2022 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2023 USD ($) subsidiary	Dec. 31, 2019 USD ($)	Dec. 30, 2020 item	May 31, 2017 USD ($)
Litigation and Contingencies
Number of subsidiaries that received assessment notice \| subsidiary			2
Payments to DOR				$ 2.1
Number of poles sold in joint venture \| item					343,000
Number of poles sold that were solely owned \| item					3,800
Loss from sale of poles	$ 8.3	$ 1.9	$ 4.2
Consolidated Communications of Pennsylvania Company LLC (CCPA)
Litigation and Contingencies
Litigation amount accrued			0.9
Consolidated Communications of Pennsylvania Company LLC (CCPA) \| Tax Year 2010, 2014 Through 2022
Litigation and Contingencies
Total additional tax liability calculated by the auditors			5.3
Consolidated Communications Enterprise Services Inc. (CCES)
Litigation and Contingencies
Litigation amount accrued			2.3
Consolidated Communications Enterprise Services Inc. (CCES) \| Tax Year 2014 Through 2022
Litigation and Contingencies
Total additional tax liability calculated by the auditors			$ 2.6
Assessment by Commonwealth of Pennsylvania Department of Revenue \| Maximum
Litigation and Contingencies
Potential liability amount guaranteed						$ 5

QUARTERLY FINANCIAL INFORMATI_3

QUARTERLY FINANCIAL INFORMATION (UNAUDITED) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended									12 Months Ended
	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2020	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Net revenues	$ 275,178	$ 283,654	$ 275,162	$ 276,126	$ 295,976	$ 296,619	$ 298,390	$ 300,278		$ 1,110,120	$ 1,191,263	$ 1,282,233
Operating income (loss)	(13,154)	(31,878)	(95,047)	(18,099)	(20,721)	20,852	14,449	(107,742)		(158,178)	(93,162)	135,178
Loss from continuing operations	(47,285)	(57,720)	(108,092)	(36,961)	(40,760)	(7,257)	(10,591)	(119,096)		(250,058)	(177,704)	(139,127)
Income from discontinued operations					5,793	299,934	9,079	3,547			318,353	32,434
Net income (loss) attributable to common shareholders	$ (58,614)	$ (69,162)	$ (118,957)	$ (47,691)	$ (45,490)	$ 282,250	$ (11,517)	$ (125,262)		$ (294,424)	$ 99,981	$ (109,762)
Loss from continuing operations - Basic	$ (0.52)	$ (0.61)	$ (1.05)	$ (0.42)	$ (0.46)	$ (0.15)	$ (0.18)	$ (1.15)		$ (2.60)	$ (1.90)	$ (1.63)
Loss from continuing operations - Diluted	(0.52)	(0.61)	(1.05)	(0.42)	(0.46)	(0.15)	(0.18)	(1.15)		(2.60)	(1.90)	(1.63)
Income from discontinued operations - Basic					0.05	2.60	0.08	0.03			2.77	0.37
Income from discontinued operations - Diluted					0.05	2.60	0.08	0.03			2.77	0.37
Basic earnings (loss) per share	(0.52)	(0.61)	(1.05)	(0.42)	(0.41)	2.45	(0.10)	(1.12)		(2.60)	0.87	(1.26)
Diluted earnings (loss) per share	$ (0.52)	$ (0.61)	$ (1.05)	$ (0.42)	$ (0.41)	$ 2.45	$ (0.10)	$ (1.12)		$ (2.60)	$ 0.87	$ (1.26)
Settlement loss	$ (6,400)
Loss from sale of poles					$ (8,300)				$ (1,900)	$ (4,200)
Disposal Group, Held-for-sale, Not Discontinued Operations \| Kansas City operations
Gain (loss) on disposal	3,100				$ (16,800)
Searchlight
Transaction costs	$ 11,800									$ 11,800

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Dec. 31, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false