Shenandoah Telecommunications Company
(NASDAQ:SHEN)

Shenandoah Telecommunications Company, together with its subsidiaries, provides a range of broadband communication services and cell tower colocation space in the Mid-Atlantic portion of the United States. Its Broadband segment offers broadband, video, and voice services to residential and commercia...

Website: http://www.shentel.com

Founded: 1902

Full Time Employees: 1,130

Sector: Communication Services

Industry: Telecom Services

Communication Services

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At a glance:

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Moat:

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Quarterly

Annual

Unit: USD	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-03-31	2013-12-31	2013-09-30	2013-06-30	2013-03-31	2012-12-31	2012-09-30	2012-06-30	2012-03-31	2011-12-31	2011-09-30	2011-06-30	2011-03-31	2010-12-31	2010-09-30	2010-06-30	2010-03-31	2009-12-31	2009-09-30	2009-06-30	2009-03-31	2008-12-31	2008-09-30	2008-06-30	2008-03-31	2007-12-31	2007-09-30	2007-06-30	2007-03-31	2006-12-31	2006-09-30	2006-06-30	2006-03-31	2005-12-31

service revenue and other	91,592,000	89,796,000	88,568,000	87,898,000	85,412,000	87,599,000	85,799,000	69,248,000	72,510,000	71,842,000	71,341,000	71,686,000	70,012,000	66,924,000	66,021,000	64,414,000	62,604,000	62,244,000	60,700,000	59,691,000	58,132,000	55,173,000	159,720,000	140,188,000	140,941,000	138,832,000	142,059,000	143,231,000	142,637,000	142,768,000
operating expenses:
cost of services exclusive of depreciation and amortization	32,080,000	32,384,000	32,624,000	33,030,000	33,171,000	34,415,000	34,541,000	25,985,000	25,707,000	27,751,000	26,076,000	26,567,000	26,974,000	27,477,000	26,756,000	26,339,000
selling, general and administrative	27,661,000	29,791,000	29,743,000	30,992,000	28,970,000	28,006,000	30,239,000	28,596,000	26,929,000	24,402,000	25,691,000	26,609,000	23,240,000	22,227,000	23,090,000	23,771,000	21,740,000	20,238,000	20,320,000	20,153,000	20,789,000	20,039,000	31,394,000	30,991,000	29,470,000	27,178,000	27,170,000	28,722,000	27,105,000	27,452,000	29,915,000	28,750,000
restructuring, integration and acquisition	164,000	293,000	206,000	510,000
depreciation and amortization	32,560,000	34,492,000	35,103,000	29,458,000	27,750,000	27,681,000	25,579,000	17,443,000	16,834,000	16,670,000	16,369,000	15,782,000	21,891,000	17,873,000	14,790,000	14,684,000	14,393,000	14,248,000	13,299,000	13,266,000	12,693,000	11,995,000	34,832,000	36,911,000	39,495,000	36,626,000	42,353,000	41,179,000	41,773,000	40,028,000	41,117,000	43,487,000	44,710,000	42,568,000	44,925,000	44,804,000	46,724,000	46,807,000	32,415,000	17,739,000	17,583,000	19,118,000	17,663,000	16,337,000	17,176,000	16,731,000	16,595,000	15,387,000	15,688,000	14,992,000	16,071,000	13,972,000	16,552,000	16,794,000	15,259,000	15,807,000	13,615,000	13,774,000	14,444,000	13,938,000	13,703,000	12,202,000	8,398,000	8,327,000	8,514,000	8,151,000	8,111,000	7,783,000	7,307,000	6,424,000		7,508,000			7,225,000	7,088,000	7,024,000	6,613,000	7,114,000	6,537,000
total operating expenses	92,465,000	96,960,000	97,676,000	93,990,000	91,166,000	91,775,000	101,684,000	72,024,000	69,470,000	70,355,000	68,972,000	68,958,000	72,682,000	68,695,000	69,158,000	64,794,000	71,280,000	61,072,000	57,997,000	57,320,000	56,518,000	54,703,000	126,524,000	130,138,000	138,117,000	129,793,000	134,894,000	134,056,000	134,490,000	130,402,000	135,332,000	137,384,000	134,961,000	142,307,000	145,006,000	143,207,000	143,383,000	160,765,000	136,459,000	71,259,000	65,562,000	70,123,000	66,951,000	65,761,000	66,483,000	68,124,000	65,623,000	64,772,000	65,529,000	64,251,000	62,954,000	60,801,000	65,702,000	67,469,000	60,241,000	60,006,000	58,470,000	53,487,000	53,561,000	53,337,000	50,529,000	47,592,000	34,518,000	30,018,000	31,652,000	29,546,000	28,503,000	27,957,000				27,980,000			25,363,000	25,964,000	39,052,000	36,667,000	36,654,000	35,648,000
operating income	-873,000	-7,164,000	-9,108,000	-6,092,000	-5,754,000	-4,176,000	-15,885,000	-2,776,000	3,040,000	1,487,000	2,369,000	2,728,000	-2,670,000	-1,771,000	-3,137,000	-380,000	-8,676,000	1,172,000	2,703,000	2,371,000	1,614,000	470,000	43,002,000	23,050,000	22,880,000	25,359,000	24,020,000	24,787,000	26,994,000	28,329,000	18,698,000	14,348,000	18,110,000	9,475,000	8,252,000	10,673,000	12,189,000	-3,929,000	-6,150,000	21,312,000	21,721,000	15,089,000	18,750,000	18,526,000	16,327,000	14,144,000	15,793,000	15,680,000	12,437,000	13,262,000	14,500,000	15,209,000	9,296,000	5,407,000	11,137,000	8,817,000	8,035,000	9,170,000	7,994,000	7,091,000	7,406,000	9,563,000	7,768,000	11,500,000	8,608,000	10,569,000	11,637,000	12,145,000				8,507,000			9,738,000	7,084,000	6,323,000	5,927,000	4,772,000	4,151,000
yoy	-84.83%	71.55%	-42.66%	119.45%	-289.28%	-380.83%	-770.54%	-201.76%	-213.86%	-183.96%	-175.52%	-817.89%	-69.23%	-251.11%	-216.06%	-116.03%	-637.55%	149.36%	-93.71%	-89.71%	-92.95%	-98.15%	79.03%	-7.01%	-15.24%	-10.48%	28.46%	72.76%	49.06%	198.99%	126.59%	34.43%	48.58%	-341.16%	-234.18%	-49.92%	-43.88%	-126.04%	-132.80%	15.04%	33.04%	6.68%	18.72%	18.15%	31.28%	6.65%	8.92%	3.10%	33.79%	145.27%	30.20%	72.50%	15.69%	-41.04%	39.32%	24.34%	8.49%	-4.11%	2.91%	-38.34%	-13.96%	-9.52%	-33.25%	-5.31%				42.76%				20.09%			104.07%	70.66%
qoq	-87.81%	-21.34%	49.51%	5.87%	37.79%	-73.71%	472.23%	-191.32%	104.44%	-37.23%	-13.16%	-202.17%	50.76%	-43.54%	725.53%	-95.62%	-840.27%	-56.64%	14.00%	46.90%	243.40%	-98.91%	86.56%	0.74%	-9.78%	5.57%	-3.09%	-8.18%	-4.71%	51.51%	30.32%	-20.77%	91.13%	14.82%	-22.68%	-12.44%	-410.23%	-36.11%	-128.86%	-1.88%	43.95%	-19.53%	1.21%	13.47%	15.43%	-10.44%	0.72%	26.08%	-6.22%	-8.54%	-4.66%	63.61%	71.93%	-51.45%	26.31%	9.73%	-12.38%	14.71%	12.73%	-4.25%	-22.56%	23.11%	-32.45%	33.60%	-18.55%	-9.18%	-4.18%								37.46%	12.04%	6.68%	24.20%	14.96%
operating margin %	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	25.37%	15.05%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	-Infinity%	-Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	NaN%	NaN%	NaN%	Infinity%	NaN%	NaN%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%
other income:
interest expense	-7,690,000	-6,789,000	-6,003,000	-4,892,000	-4,157,000	-3,668,000	-3,996,000	-4,076,000															-5,044,000	-6,211,000	-6,487,000	-7,505,000	-7,522,000	-7,954,000	-7,663,000	-9,001,000	-8,851,000	-9,332,000	-9,925,000	-9,823,000	-9,389,000	-9,100,000	-4,092,250	-8,845,000	-5,904,000	-1,619,000	-1,692,000	-1,808,000	-1,940,000	-1,915,000	-2,029,000	-2,007,000	-2,065,000	-2,048,000	-2,198,000	-2,050,000	-2,068,000	-2,152,000	-2,209,000	-2,323,000	-1,522,000	-1,795,000			-2,846,000	-1,819,000	-1,724,000	-2,416,000	-266,000	-310,000	-233,000	-193,000	-405,000	-531,000	-227,000	-103,000		-333,000			-472,000	-507,000			-610,000	-648,000
other income	1,418,000	1,589,000	3,015,000	733,000	1,819,000	998,000	1,908,000	1,736,000	-733,000	826,000	177,000	1,117,000	619,000	-1,208,000	-589,000	-170,000	5,589,000	138,000	1,338,000	1,600,000	84,000	1,083,000
loss from continuing operations before income taxes	-8,677,750	-12,364,000	-12,096,000	-10,251,000
income tax benefit	-1,785,250	-2,974,000	-3,048,000	-1,119,000									-228,000	-251,000
loss from continuing operations	-6,892,500	-9,390,000	-9,048,000	-9,132,000	-5,541,750	-5,304,000	-12,773,000
discontinued operations:
income from discontinued operations, net of tax					34,000	41,000	-99,000	1,981,000									-4,965,000	-406,000	51,566,000	48,472,000	47,675,000	33,509,000
gain on the sale of discontinued operations, net of tax					3,412,000			216,805,000									9,503,000	886,732,000
total income from discontinued operations, net of tax					3,446,000	41,000	-99,000	218,786,000									4,538,000	886,326,000
net income	-5,373,000	-9,390,000	-9,048,000	-9,132,000	-2,744,000	-5,263,000	-12,872,000	214,696,000	2,589,000	1,593,000	1,790,000	2,066,000	-1,823,000	-2,728,000	-3,225,000	-603,000	830,000	893,058,000	53,422,000	51,521,000	49,275,000	34,921,000	29,247,000	13,280,000	13,521,000	14,354,000	13,150,000	13,910,000	14,852,000	15,534,000	7,824,000	4,829,000	60,595,000	3,534,000	-80,000	2,341,000	-184,000	-7,596,000	-6,995,000	13,881,000	12,108,000	7,996,000	10,474,000	10,286,000	8,649,000	8,003,000	8,615,000	8,616,000	6,676,000	6,717,000	7,842,000	8,351,000	4,916,000	1,361,000	5,560,000	4,466,000	3,972,000	3,002,000	2,992,000	3,027,000	2,714,000	4,034,000	4,572,000	6,754,000	6,258,000	6,307,000	6,740,000	-4,135,000				4,792,000			5,947,000	4,071,000	3,212,000	3,381,000	2,783,000	8,545,000
yoy	95.81%	78.42%	-29.71%	-104.25%	-205.99%	-430.38%	-819.11%	10291.87%	-242.02%	-158.39%	-155.50%	-442.62%	-319.64%	-100.31%	-106.04%	-101.17%	-98.32%	2457.37%	82.66%	287.96%	264.43%	143.28%	122.41%	-4.53%	-8.96%	-7.60%	68.07%	188.05%	-75.49%	339.56%	-9880.00%	106.28%	-33032.07%	-146.52%	-98.86%	-83.14%	-101.52%	-195.00%	-166.78%	34.95%	39.99%	-0.09%	21.58%	19.38%	29.55%	19.15%	9.86%	3.17%	35.80%	393.53%	41.04%	86.99%	23.77%	-54.66%	85.83%	47.54%	46.35%	-25.58%	-34.56%	-55.18%	-56.63%	-36.04%	-32.17%	-263.34%				-186.29%				17.71%			113.69%	-52.36%
qoq	-42.78%	3.78%	-0.92%	232.80%	-47.86%	-59.11%	-106.00%	8192.62%	62.52%	-11.01%	-13.36%	-213.33%	-33.17%	-15.41%	434.83%	-172.65%	-99.91%	1571.70%	3.69%	4.56%	41.10%	19.40%	120.23%	-1.78%	-5.80%	9.16%	-5.46%	-6.34%	-4.39%	98.54%	62.02%	-92.03%	1614.63%	-4517.50%	-103.42%	-1372.28%	-97.58%	8.59%	-150.39%	14.64%	51.43%	-23.66%	1.83%	18.93%	8.07%	-7.10%	-0.01%	29.06%	-0.61%	-14.35%	-6.10%	69.87%	261.20%	-75.52%	24.50%	12.44%	32.31%	0.33%	-1.16%	11.53%	-32.72%	-11.77%	-32.31%	7.93%	-0.78%	-6.42%	-263.00%								46.08%	26.74%	-5.00%	21.49%	-67.43%
net income margin %	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	17.25%	8.67%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	-Infinity%	Infinity%	-Infinity%	-Infinity%	-Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	-Infinity%	NaN%	NaN%	NaN%	Infinity%	NaN%	NaN%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%
dividends on redeemable noncontrolling interest	1,957,000	1,523,000	1,497,000	1,472,000
net income attributable to common shareholders	-7,330,000	-10,913,000	-10,545,000	-10,604,000	-4,535,000	-6,901,000
net income per share	-0.145	-0.2	-0.19	-0.19	0.913	-0.13	-0.24
weighted-average shares outstanding		55,150	55,103	54,959
integration and acquisition					3,404,000	1,673,000	11,325,000
impairment expense										1,532,000	836,000		357,000	477,000	4,068,000
income from continuing operations before income taxes					-8,092,000	-6,846,000	-17,973,000	-5,116,000					-2,051,000	-2,979,000	-3,726,000	-550,000																																	10,882,000	11,937,000	12,920,000	13,725,000	7,459,000	3,465,000	10,006,000	7,681,000	6,414,000	7,112,000	5,314,000	5,365,000	5,844,000	7,410,000	7,608,000	11,210,000	9,212,000	10,672,000	11,643,000	11,154,000	9,008,000	12,262,000
income tax expense					-1,902,000	-1,542,000	-5,200,000	-1,026,000	-282,000	720,000	756,000	1,779,000			-501,000	53,000	621,000	-5,422,000	2,185,000	922,000	98,000	141,000	10,284,000	4,292,000	2,771,000	4,599,000	4,524,000	4,210,000	5,310,000	4,848,000	2,862,000	1,176,000	-51,303,000	-2,677,000	240,000	607,000	5,014,000	-3,651,000	-4,892,000	6,368,000	8,527,000	5,465,000	6,876,000	6,859,000	6,057,000	4,782,000	5,686,000	5,626,000	4,206,000	5,220,000	5,078,000	5,374,000	2,400,000	2,050,000	4,284,000	3,273,000	2,597,000	3,497,000	2,276,000	2,305,000	2,386,000	3,220,000	3,108,000	4,641,000	3,446,000	4,326,000	4,828,000	4,920,000	3,656,000	4,818,000		3,139,000			4,070,000	2,822,000	2,823,000	2,126,000	1,899,000	5,522,000
net income attributable to redeemable noncontrolling interest					409,500	1,638,000
weighted-average shares outstanding, basic and diluted						54,781	54,730
other comprehensive income:
gain on interest rate hedge, net of tax							143,000
comprehensive income							-12,729,000	216,290,000	1,015,000	2,708,000	3,917,000		-1,823,000	-2,728,000	-3,225,000	-603,000	830,000	896,678,000	53,735,000	52,294,000	49,770,000	35,460,000	29,306,000	7,174,000	13,983,000	12,860,000	8,938,000	11,182,000	10,542,000	15,999,000	8,657,000	7,891,000	62,807,000	3,540,000	-1,455,000	2,940,000	8,762,000	-5,884,000	-10,233,000	12,833,000	12,961,000	7,017,000	10,800,000	9,379,000	7,961,000	8,479,000	7,702,000	8,269,000	7,224,000	6,319,000	10,617,000	8,883,000	5,189,000	225,000
income from continuing operations								-4,090,000					-1,823,000	-2,728,000	-3,225,000	-603,000	-3,708,000	6,732,000	1,856,000	3,049,000	1,600,000	1,412,000
unrealized gain on interest rate hedge, net of tax								1,594,000																	462,000	-1,494,000	-4,212,000	-2,728,000	-4,310,000	465,000	833,000	3,062,000	2,212,000	6,000		599,000	8,946,000	1,712,000	-3,238,000		853,000	-979,000	326,000		-688,000	476,000	-913,000	-347,000	548,000	-398,000	2,775,000	532,000
basic - income from continuing operations								-0.08					-0.04	-0.05	-0.06	-0.01	-0.07	0.13	0.04	0.06	0.03	0.03
basic - income from discontinued operations, net of tax								4.33									0.08	17.73	1.03	0.97	0.96	0.67
basic net income per share								4.25	0.05	0.03	0.04	0.04	-0.04	-0.05	-0.06	-0.01	0.01	17.86	1.07	1.03	0.99	0.7	0.59	0.27	0.27	0.29	0.26	0.28	0.3	0.31																																										0.2
diluted - income from continuing operations								-0.08					-0.04	-0.05	-0.06	-0.01	-0.07	0.13	0.04	0.06	0.03	0.03
diluted - income from discontinued operations, net of tax								4.29									0.09	17.68	1.03	0.97	0.95	0.67
diluted net income per share								4.21	0.05	0.03	0.04	0.04	-0.04	-0.05	-0.06	-0.01	0.02	17.81	1.07	1.03	0.98	0.7	0.58	0.27	0.27	0.29	0.26	0.28	0.3	0.31																																										0.2
weighted-average shares outstanding, basic	55,100				53,722			50,520	50,396	50,379	50,366	50,291	50,155	50,183	50,157	50,146	50,026	49,984	49,945	49,947	49,901	49,911	49,902	49,888	49,811	49,857	49,848	49,775	49,542	49,559	49,547	49,474	49,150	49,133	49,115	49,050	48,807	48,909	48,830	48,563	48,388	24,203	24,190	24,153	24,099	24,113	24,102	24,059	24,001	24,010	23,996	23,973	23,877	23,875	23,855	23,843	23,781	23,781	23,772	23,767	23,730	23,738	23,738	23,698	23,639		23,637	23,622	23,543			23,521	23,365		23,350	7,768	7,719	7,722	7,709
weighted-average shares outstanding, diluted	55,100				53,722			51,011	50,715	50,836	50,693	50,512	50,155	50,183	50,157	50,146	50,149	50,120	50,075	50,081	50,024	50,105	50,082	50,036	50,101	50,129	50,142	50,115	50,063	50,117	50,070	50,024	50,026	49,959	49,115	49,834	48,807	48,909	48,830	49,249	49,024	24,535	24,502	24,451	24,360	24,393	24,320		24,115				24,019				23,826				23,823				23,701				23,609				23,497
restructuring expense													220,000	641,000	454,000		-94,000	1,160,000	43,000	618,000
income before income taxes									2,176,000	2,313,000	2,546,000	3,845,000					-3,087,000	1,310,000	4,041,000	3,971,000	1,698,000	1,553,000	39,531,000	17,572,000	16,292,000	18,953,000	17,674,000	18,120,000	20,162,000	20,382,000	10,686,000	6,005,000	9,292,000	857,000	160,000	2,948,000	4,830,000	-11,247,000	-11,887,000	20,249,000	20,635,000	13,461,000	17,350,000	17,145,000				14,242,000																								7,931,000
unrealized income on interest rate hedge, net of tax									810,500	1,115,000	2,127,000								313,000	773,000	495,000	539,000	59,000
cost of services																	29,255,000	25,426,000	24,335,000	23,283,000	23,036,000	22,669,000	50,640,000	49,565,000	49,574,000	50,164,000	49,497,000	49,518,000	47,660,000	47,886,000	49,134,000	49,342,000
net gains on interest rate swaps, net of tax																		3,620,000
equipment revenue																							9,806,000	13,000,000	20,056,000	16,320,000	16,855,000	15,612,000	18,847,000	15,963,000
total revenue																							169,526,000	153,188,000
yoy
qoq																							10.67%
cost of goods sold																							9,658,000	12,671,000	19,578,000	15,825,000	15,874,000	14,637,000	17,952,000	15,036,000	15,166,000	15,805,000
other																							1,573,000	733,000	-101,000	1,099,000	1,176,000
unrealized loss on interest rate hedge, net of tax																								-6,106,000											-1,375,000					-1,048,000				-907,000
total operating revenue																									118,227,250	155,152,000	158,914,000	158,843,000	161,484,000	158,731,000
gain on investments																												250,000	-387,000	88,000	56,000	-32,000	169,000	202,000	73,000	120,000	34,000	127,000	21,000	88,000	117,000	-211,000	98,000	102,000	-127,000	239,000	114,000	-18,000	230,000	348,000	30,000	148,000	43,000	212,000	132,000	471,000			-124,000	-125,000	-12,000	-11,000	-76,000	-67,000			223,000	-627,000	-664,000	-386,000		-450,000			348,000	60,000	-37,000		211,000
non-operating income																												1,037,000	1,218,000	966,000	783,000	1,021,000	938,000	1,003,000	1,224,000	1,255,000	1,340,000	1,400,000	146,000	468,000	489,000	391,000	442,000	432,000	535,000	409,000	459,000	628,000	413,000	377,000	458,000	520,000	329,000	169,000	259,000	188,000	197,000	195,000	290,000	218,000	174,000	274,000	182,000	87,000	510,000	95,000	188,000	167,000	134,000	152,000		207,000			403,000	256,000	254,000	227,000	309,000	123,000
acquisition, integration and migration expenses
service revenues and other																															138,021,000	134,153,000
equipment revenues																															16,009,000	17,579,000
total operating revenues																															154,030,000	151,732,000
net income per share	-0.145	-0.2	-0.19	-0.19	0.913	-0.13	-0.24
basic																															0.16
diluted																															0.16
earnings per share:
basic																																0.1	0.03	0.07		0.05	-0.01	-0.16	-0.14	0.29	-0.35	0.33	0.43	0.43	0.263	0.33	0.36
diluted																																0.1	0.03	0.07		0.05	-0.01	-0.16	-0.14	0.28	-0.34	0.33	0.43	0.42	0.26	0.33	0.35
operating revenues																																	153,071,000	151,782,000	153,258,000	153,880,000	155,572,000	156,836,000	130,309,000	92,571,000	87,283,000	85,212,000	85,701,000	84,287,000	82,810,000	82,268,000	81,416,000	80,452,000	77,966,000	77,513,000	77,454,000	76,010,000	74,998,000	72,876,000	71,378,000	68,823,000	66,505,000	62,657,000	61,555,000	60,428,000	57,935,000	53,155,000	42,286,000	41,518,000	40,260,000	40,115,000	40,140,000	40,102,000	37,120,000	37,409,000		36,487,000			35,101,000	33,048,000	45,375,000	42,594,000	41,426,000	39,799,000
cost of goods and services, exclusive of depreciation and amortization shown separately below																																	40,744,000	55,834,000	53,381,000	53,761,000	53,166,000	58,317,000	50,296,000	31,762,000	29,789,000	30,570,000	30,280,000	30,691,000	31,773,000	33,330,000	32,403,000	32,236,000	32,134,000	31,778,000	30,528,000	30,700,000	25,340,000	32,995,000	29,969,000	29,029,000	29,848,000	25,514,000	25,216,000	26,061,000	24,023,000	21,220,000	15,316,000	13,918,000	14,580,000	13,703,000	13,044,000	12,631,000				12,538,000			11,068,000	11,402,000	18,965,000	18,253,000	17,563,000	16,868,000
selling, general and administrative, exclusive of depreciation and amortization shown separately below																																	31,343,500	42,199,000	43,022,000	40,153,000	24,065,750	40,369,000	33,694,000	21,758,000	14,544,250	20,435,000	19,008,000	18,733,000	12,959,000	18,063,000	16,625,000	17,149,000			16,355,000	16,129,000	12,858,000	17,680,000	15,013,000	15,170,000	10,359,500	14,199,000	13,901,000	13,338,000	12,803,000	14,170,000	10,804,000	7,773,000	8,558,000	7,692,000	7,348,000	7,543,000				7,934,000			7,070,000	7,474,000	13,063,000	11,801,000	11,977,000	12,243,000
integration and acquisition expenses																																	2,468,250	1,706,000	3,678,000	4,489,000	6,431,000	15,272,000	20,054,000
income before taxes																																													10,332,000	12,785,000	14,301,000
earnings per share:
basic and diluted earnings per share																																																0.36
weighted-average shares, diluted																																																24,221		24,125	24,078	24,032		23,956	23,892	23,868		23,823	23,797	23,849		23,883	23,781	23,733			23,732	23,693				23,587			23,477	7,815	7,777	7,778	7,770
selling, general, and administrative, exclusive of depreciation and amortization shown separately below																																																	12,491,500	17,481,000
net income from continuing operations																																																	6,676,000	6,717,000	7,842,000	8,351,000	5,059,000	1,415,000	5,722,000	4,408,000	3,817,000	3,615,000	3,038,000	3,060,000	3,458,000	4,190,000	4,500,000	6,569,000	5,766,000	6,346,000	6,815,000	6,234,000
losses from discontinued operations, net of tax benefits of 0, 29, 0, and 97, respectively
basic and diluted income per share:																																																					0.12	0.06
losses from discontinued operations																																																					0.118	0.06	-0.01
losses from discontinued operations, net of tax benefits of 0, 106, 0 and 68, respectively
income from discontinued operations, net of tax (expense) of 0 and (38), respectively
basic and diluted net income per share:
net income from discontinued operations
losses from discontinued operations, net of tax benefits of 29, 392, 97 and 436, respectively																																																					-39,250	-54,000
other comprehensive loss:
unrealized loss on interest rate swap, net of tax																																																					-284,000	-1,136,000
losses from discontinued operations, net of tax benefits of 106, 16, 68 and 54, respectively																																																							-162,000
income from discontinued operations, net of tax benefit of (38) and 22, respectively																																																								58,000
net earnings from discontinued operations																																																													0.003	-0.01		0.01
gain on sale of directory																																																														4,000,000
earnings from discontinued operations, net of tax benefit of 392, 109, 436 and (41), respectively
earnings from discontinued operations, net of tax benefit of 31, (38), 52 and (150), respectively																																																											-46,000
earnings from discontinued operations, net of tax benefit of 22 and (112), respectively																																																												-33,000
earnings from discontinued operations, net of tax benefit of 100, 24, (66) and 6,415, respectively																																																													25,250	-156,000
earnings from discontinued operations, net of tax benefit of (47), (363), (166) and 6,391, respectively																																																															72,000
earnings from discontinued operations, net of tax benefit of (119) and 6,754, respectively																																																																185,000
gain (loss) on investments																																																																	-50,750	201,000														10,518,000
loss from discontinued operations, net of tax benefits of 24, 429, 6,415 and 1,357, respectively																																																																	-2,621,000	-39,000
loss from discontinued operations																																																																	-0.11			-0.44
weighted average shares outstanding, basic																																																																		23,640														7,695
weighted average shares, diluted																																																																		23,706														7,763
loss from discontinued operations, net of tax benefits of (363), 514, 6,391 and 928, respectively																																																																			-75,000
loss from discontinued operations, net of tax benefits of 6,754 and 420, respectively																																																																				-10,369,000
loss from discontinued operations, net of tax benefits of 429, 627, 1,357 and 1,661, respectively																																																																					-532,000	-636,000
income per share, basic and diluted:
see accompanying notes to unaudited condensed consolidated financial statements.
income per share:
income before income taxes and cumulative effect of a change in accounting																																																																											10,017,000	6,893,000	6,035,000	5,507,000	4,682,000	14,144,000
net income before cumulative effect of a change in accounting																																																																											5,947,000	4,071,000
cumulative effect of a change in accounting, net of income taxes																																																																																-77,000
basic net income per share:
diluted net income per share:
income before cumulative effect of a change in accounting																																																																													3,696,750	3,381,000	2,783,000	8,622,000
basic net income (loss) per share:
income (loss) per share:

Balance Sheets:

Quarterly

Annual

Unit: USD	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-03-31	2013-12-31	2013-09-30	2013-06-30	2013-03-31	2012-12-31	2012-09-30	2012-06-30	2012-03-31	2011-12-31	2011-09-30	2011-06-30	2011-03-31	2010-12-31	2010-09-30	2010-06-30	2010-03-31	2009-12-31	2009-09-30	2009-06-30	2009-03-31	2008-12-31	2008-09-30	2008-03-31	2007-12-31	2007-06-30	2007-03-31	2006-12-31	2006-09-30	2006-06-30	2006-03-31	2005-12-31

assets
current assets:
cash and cash equivalents	27,259,000	22,621,000	29,077,000	87,547,000	46,272,000	43,099,000	43,779,000	389,735,000	139,255,000	35,966,000	26,304,000	48,396,000	44,061,000	33,033,000	33,335,000	53,981,000	84,344,000	532,544,000	248,789,000	229,182,000	195,397,000	184,050,000	143,712,000	120,232,000	101,651,000	97,415,000	98,091,000	69,859,000	85,086,000	75,207,000	65,569,000	49,448,000	78,585,000	75,467,000	59,774,000	39,927,000	36,193,000	27,531,000	40,571,000	89,160,000	76,812,000	87,288,000	92,137,000	77,152,000	68,917,000	78,643,000	72,085,000	53,681,000	38,316,000	61,955,000	73,402,000	67,095,000	71,086,000	94,647,000	21,312,000	19,643,000	15,874,000	21,862,000	25,431,000	26,558,000	27,453,000	43,144,000	26,504,000	18,198,000	12,054,000	14,918,000	13,266,000	18,653,000	5,240,000	7,318,000	22,995,000	17,245,000	23,256,000	20,867,000	13,440,000	15,073,000	16,367,000	5,399,000	2,572,000
restricted cash and cash equivalents	20,945,000
accounts receivable	31,497,000	25,309,000	34,551,000	29,749,000	29,722,000	32,526,000	29,639,000	18,228,000	19,782,000	18,851,000	15,344,000	15,854,000	20,615,000	23,592,000	16,856,000	15,757,000	22,005,000	25,026,000	63,182,000	66,618,000	70,393,000	67,667,000	91,682,000	61,526,000	63,541,000	60,084,000	59,561,000	58,153,000	54,407,000	59,968,000	58,614,000	51,095,000	54,184,000	64,396,000	65,797,000	68,709,000	69,789,000	79,944,000	77,392,000	27,012,000	29,778,000	32,025,000	29,806,000	28,277,000	30,371,000	27,747,000	26,844,000	25,538,000	25,824,000	24,255,000	25,019,000	24,566,000	25,274,000	23,735,000	22,794,000	22,242,000	21,483,000	20,915,000	20,614,000	19,498,000	20,634,000	22,149,000	17,183,000	16,734,000	15,058,000	15,621,000	16,921,000	14,379,000	16,131,000	16,046,000	11,650,000	12,338,000	11,655,000	10,935,000	11,611,000	11,522,000	9,694,000	9,787,000	11,864,000
income taxes receivable	2,544,000	3,308,000	3,278,000	1,080,000	1,244,000	4,700,000	5,537,000	2,618,000	4,691,000	4,647,000	4,647,000	5,079,000	29,755,000	29,457,000	30,188,000	29,729,000	30,188,000		2,795,000			94,000	4,452,000	8,157,000	10,306,000	2,983,000	4,144,000		5,282,000	2,545,000	589,000	8,360,000	17,311,000	7,689,000	1,739,000					712,000	7,694,000			5,433,000	14,752,000	2,141,000		7,745,000	16,576,000	10,329,000	4,789,000	2,239,000	4,705,000			1,347,000	12,495,000	6,470,000	3,419,000		2,576,000			734,000	5,531,000			2,414,000	7,366,000	220,000		3,762,000							795,000
prepaid expenses and other	15,198,000	16,754,000	16,445,000	16,088,000	17,282,000	17,189,000	20,567,000	15,025,000	11,782,000	14,394,000	12,874,000	12,762,000	11,509,000	11,915,000	29,612,000	26,643,000	29,830,000	16,463,000	13,185,000	12,943,000	9,631,000	10,579,000	56,392,000	60,923,000	57,805,000	56,597,000	53,786,000	52,533,000	60,162,000	63,383,000	64,163,000	64,200,000		18,226,000	16,765,000	16,989,000	16,440,000	17,759,000	18,562,000	7,623,000	8,573,000	6,196,000	5,577,000	5,998,000	4,279,000	4,980,000	4,411,000	5,626,000	5,580,000	5,602,000	5,548,000	5,790,000	4,546,000	5,076,000	4,576,000	5,433,000	3,844,000	3,932,000	3,718,000	4,669,000	3,770,000	3,488,000	2,947,000	3,209,000	2,416,000	2,663,000	2,512,000	2,879,000	2,283,000	9,571,000	2,984,000	2,221,000	2,487,000	2,838,000	2,016,000	1,966,000	2,367,000	2,574,000	2,336,000
total current assets	97,443,000	67,992,000	83,351,000	134,464,000	94,520,000	97,514,000	99,522,000	426,167,000	176,071,000	74,454,000	78,911,000	104,523,000	128,562,000	117,739,000	129,812,000	126,110,000	166,367,000	574,033,000	1,429,144,000	1,426,271,000	1,408,715,000	1,410,991,000	299,533,000	257,909,000	239,031,000	221,640,000	222,148,000	187,785,000	210,202,000	206,065,000	195,142,000	181,264,000	172,895,000	173,217,000	158,069,000	150,480,000	161,465,000	141,529,000	158,111,000	128,957,000	127,947,000	131,628,000	134,402,000	128,208,000	128,324,000	121,982,000	111,801,000	102,336,000	97,974,000	111,970,000	117,797,000	107,818,000	116,435,000	131,751,000	56,787,000	56,972,000	64,464,000	66,076,000	68,340,000	65,063,000	70,800,000	84,986,000	62,636,000	55,062,000	52,635,000	50,804,000	50,107,000	59,023,000	72,421,000		43,302,000	41,136,000	43,127,000	38,589,000	30,863,000	31,815,000	31,213,000	32,253,000	20,801,000
investments	16,510,000	16,344,000	15,974,000	15,534,000	15,709,000	15,369,000	15,135,000	13,408,000	13,198,000	12,918,000	13,016,000	13,118,000	12,971,000	12,784,000	12,897,000	13,284,000	13,661,000	13,410,000	13,793,000	13,376,000	13,769,000	13,034,000	12,661,000	12,011,000	12,388,000	11,851,000	11,563,000	11,274,000	10,788,000	12,296,000																																											9,666,000	7,027,000		6,950,000	6,979,000	6,521,000
property, plant and equipment	1,601,609,000	1,571,726,000	1,523,994,000	1,483,796,000	1,438,538,000	1,385,355,000	1,337,252,000	896,208,000	879,499,000	822,494,000	786,446,000	739,587,000	687,553,000	641,407,000	609,785,000	581,541,000	554,162,000	525,799,000	495,599,000	468,383,000	440,427,000	413,602,000	703,012,000	695,920,000	700,114,000	688,516,000	695,725,000	701,980,000	701,359,000	669,709,000	668,339,000	672,017,000	686,327,000	683,355,000	679,463,000	689,948,000	698,122,000	667,741,000	653,523,000	410,949,000	410,018,000	398,435,000	402,877,000	402,174,000	405,907,000	405,843,000	405,810,000	405,729,000	408,963,000	395,456,000	386,581,000	370,196,000	365,474,000	319,925,000	313,710,000	311,531,000	310,754,000	300,110,000	289,337,000
goodwill	67,538,000																						149,070,000	149,070,000	149,070,000	149,070,000	149,070,000	149,070,000	146,497,000	146,497,000	146,497,000	146,497,000	146,497,000	146,497,000	146,497,000	144,001,000	145,256,000	145,413,000	151,730,000
intangible assets	89,353,000																						285,081,000	299,458,000	314,147,000	328,831,000	324,890,000	339,714,000	366,029,000	381,537,000	396,908,000	413,537,000	380,979,000	421,672,000	436,656,000	443,308,000	454,532,000	458,401,000	464,146,000	67,283,000	66,993,000	67,274,000	67,535,000	67,939,000	68,260,000	68,680,000	69,165,000	69,991,000	70,816,000	71,673,000	72,625,000	73,783,000	74,932,000	76,210,000	77,638,000	79,474,000	81,346,000	83,201,000	85,543,000	87,355,000	90,389,000	91,868,000	2,202,000	2,310,000	2,417,000	2,711,000	2,871,000	3,031,000	3,163,000	88,000	2,214,000	2,331,000	2,565,000	2,682,000	2,799,000	2,983,000	3,104,000	3,220,000	3,346,000
operating lease right-of-use assets	19,657,000	18,948,000	19,442,000	19,834,000	19,548,000	20,738,000	20,444,000	14,170,000	50,640,000	51,832,000	52,258,000	54,999,000	53,859,000	55,749,000	55,872,000	57,130,000	56,414,000	56,952,000	54,254,000	52,738,000	50,387,000	48,844,000	376,912,000	382,973,000	392,589,000	400,489,000	369,715,000	361,564,000
deferred charges and other assets	18,652,000	18,028,000	15,081,000	14,550,000	14,235,000	13,011,000	14,491,000	14,886,000	13,698,000	15,825,000	15,557,000	13,021,000	13,259,000	13,167,000	13,439,000	15,553,000	10,298,000	16,750,000	16,097,000	14,998,000	11,650,000	10,972,000	54,311,000	53,436,000	53,352,000	50,469,000	48,929,000	48,325,000	49,891,000	53,723,000	34,021,000	33,934,000	13,690,000	11,012,000	11,465,000	14,645,000	14,756,000	5,478,000	10,855,000	11,323,000	13,103,000	12,527,000	6,917,000	6,856,000	6,662,000	8,108,000	7,559,000	9,076,000	9,921,000	9,424,000	10,501,000	6,483,000	5,675,000	5,807,000	4,677,000	4,220,000	4,148,000	4,339,000	4,426,000	5,114,000	5,145,000	5,084,000	1,296,000	1,216,000	1,248,000	1,391,000	1,523,000	1,734,000	1,841,000	2,117,000	3,171,000	2,845,000	1,521,000	1,521,000	1,487,000	1,307,000	1,887,000	1,367,000	1,068,000
total assets	1,910,762,000	1,850,424,000	1,814,674,000	1,825,453,000	1,740,273,000	1,694,809,000	1,656,333,000	1,445,922,000	1,214,229,000	1,058,710,000	1,027,458,000	1,006,640,000	977,719,000	922,458,000	891,417,000	883,251,000	890,733,000	1,293,090,000	2,115,232,000	2,082,309,000	2,031,707,000	2,001,299,000	1,880,580,000	1,850,777,000	1,860,691,000	1,850,866,000	1,822,040,000	1,799,712,000	1,484,766,000	1,469,827,000	1,452,856,000	1,458,966,000	1,411,860,000	1,447,072,000	1,442,999,000	1,452,989,000	1,484,407,000	1,433,625,000	1,455,841,000	629,372,000	628,740,000	620,244,000	622,257,000	615,506,000	619,242,000	614,612,000	604,003,000	596,595,000	597,006,000	597,499,000	596,082,000	566,728,000	570,740,000	552,791,000	471,989,000	471,605,000	479,979,000	473,141,000	467,299,000	463,165,000	466,437,000	467,073,000	283,930,000	275,137,000	271,725,000	262,997,000	258,565,000	254,785,000	265,981,000		223,727,000	221,524,000	216,662,000	211,663,000	207,720,000	210,696,000	211,693,000	214,488,000	204,921,000
liabilities, temporary equity and shareholders’ equity
current liabilities:
short-term debt		10,084,000	10,203,000	10,348,000	9,204,000	8,628,000	8,726,000	7,879,000	7,095,000	2,412,000	1,056,000	1,302,000	648,000	105,000					672,601,000	680,531,000	688,463,000	696,378,000	31,689,000	31,672,000	31,650,000	31,634,000	27,939,000	24,293,000	20,618,000	84,743,000	84,631,000	74,486,000	64,397,000	54,316,000	44,247,000	38,124,000	32,041,000	25,972,000	20,147,000	22,508,000
accounts payable	61,355,000	76,870,000	62,516,000	59,266,000	57,820,000	65,952,000	57,725,000	50,281,000	53,546,000	43,360,000	41,238,000	48,822,000	49,173,000	35,836,000	30,056,000	21,422,000	28,542,000	17,433,000	23,538,000	19,866,000	19,599,000	25,602,000	26,702,000	30,384,000	40,295,000	26,470,000	27,657,000	25,410,000	35,987,000	23,868,000	22,674,000	27,194,000	28,953,000	31,462,000	22,433,000	25,390,000	72,810,000	34,974,000	27,951,000	10,720,000	13,009,000	8,008,000	9,410,000	7,524,000	11,151,000	8,522,000	8,478,000	5,727,000	12,604,000	23,631,000	34,721,000	20,500,000	31,729,000	10,072,000	10,314,000	9,569,000	11,708,000	7,790,000	10,953,000	8,613,000	12,237,000	7,821,000	4,759,000	5,213,000	8,804,000	4,698,000	6,823,000	5,723,000	5,607,000		6,661,000	6,073,000	4,942,000	3,941,000	7,364,000	5,991,000	6,047,000	6,660,000	6,928,000
advanced billings and customer deposits	16,909,000	16,811,000	16,831,000	16,432,000	16,104,000	15,212,000	14,928,000	12,267,000	13,241,000	13,120,000	12,359,000	12,391,000	12,425,000	11,443,000	11,375,000	11,128,000	11,128,000	9,510,000	9,081,000	9,407,000	8,594,000	8,304,000	8,188,000	8,414,000	8,358,000	8,127,000	7,914,000	8,095,000	7,919,000	7,415,000	6,668,000	6,919,000	21,153,000	21,109,000	20,883,000	21,029,000	20,427,000	21,979,000	23,024,000	11,981,000	11,674,000	11,818,000	11,373,000	11,510,000	12,375,000	12,336,000	11,912,000	12,042,000	11,661,000	11,161,000	11,282,000	11,191,000	11,190,000	10,730,000	10,457,000	11,108,000	10,647,000	10,022,000	8,989,000	8,946,000	8,067,000	9,505,000	6,656,000	6,542,000	6,349,000	6,343,000	6,305,000	5,076,000	5,151,000		5,648,000	5,455,000	5,149,000	5,086,000	4,975,000	4,818,000	4,208,000	4,240,000	4,247,000
accrued compensation	13,334,000	14,838,000	11,314,000	11,172,000	16,283,000	16,030,000	12,308,000	7,337,000	11,749,000	10,640,000	7,532,000	6,857,000	9,616,000	10,721,000	7,799,000	7,132,000	9,653,000	9,482,000	12,102,000	11,235,000	16,413,000	15,154,000	13,439,000	5,787,000	10,075,000	6,915,000	6,817,000	4,488,000	9,452,000	6,833,000	6,738,000	4,534,000	9,167,000	7,373,000	7,100,000	3,678,000	9,465,000	6,817,000	6,020,000	2,037,000	5,915,000	3,956,000	3,480,000	3,017,000	5,466,000	4,850,000	2,961,000	2,633,000	4,192,000	3,852,000	2,314,000	2,277,000	2,671,000	3,439,000	1,983,000	2,128,000	2,094,000	2,627,000	1,401,000	1,820,000	3,278,000	2,938,000	2,469,000	1,181,000	1,003,000	1,414,000	2,041,000	1,197,000	2,584,000		1,240,000	3,098,000	2,208,000	1,140,000	1,974,000	1,731,000	2,916,000	2,289,000	3,294,000
current operating lease liabilities	2,819,000	2,851,000	2,933,000	3,060,000	3,060,000	3,317,000	3,138,000	2,266,000	3,081,000	3,126,000	3,076,000	2,946,000	2,829,000	2,962,000	3,047,000	3,087,000	3,318,000	2,648,000	2,272,000	2,062,000	1,970,000	1,875,000	45,005,000	44,204,000	42,567,000	44,178,000	42,941,000	39,400,000
accrued liabilities and other	14,079,000	13,947,000	11,143,000	11,716,000	12,100,000	13,994,000	15,264,000	11,003,000	9,643,000	11,763,000	12,766,000	16,103,000	17,906,000	14,040,000	14,934,000	14,289,000	14,649,000	13,590,000	13,936,000	14,505,000	13,869,000	13,854,000	20,304,000	19,183,000	14,391,000	14,731,000	14,513,000	15,129,000	14,563,000	14,756,000	18,086,000	17,471,000	13,914,000	15,277,000	17,552,000	18,174,000	29,085,000	31,533,000	31,615,000	7,767,000	7,639,000	8,294,000	7,926,000	8,181,000	7,162,000	8,438,000	8,333,000	9,242,000	9,787,000	9,823,000	10,316,000	9,597,000	10,573,000	9,606,000	7,562,000	8,302,000	8,950,000	7,590,000	6,849,000	6,610,000	5,583,000	6,876,000	2,737,000	3,573,000	3,053,000	3,450,000	5,189,000	4,972,000	5,631,000		4,786,000	5,182,000	4,048,000	4,147,000	2,835,000	3,084,000	2,606,000	2,997,000	3,746,000
total current liabilities	108,496,000	135,401,000	114,940,000	111,994,000	114,571,000	123,133,000	112,089,000	91,033,000	98,355,000	84,421,000	81,831,000	92,236,000	96,421,000	78,941,000	71,054,000	57,058,000	67,290,000	485,423,000	1,156,538,000	1,202,317,000	1,208,061,000	1,232,110,000	145,327,000	139,644,000	147,336,000	132,055,000	127,781,000	119,121,000	88,539,000	137,615,000	138,797,000	130,604,000	137,584,000	129,537,000	112,215,000	110,353,000	164,263,000	135,464,000	138,474,000	55,013,000	61,237,000	56,751,000	55,688,000	53,232,000	59,154,000	57,146,000	49,515,000	41,144,000	43,994,000	48,467,000	59,150,000	44,803,000	58,140,000	49,550,000	54,583,000	53,065,000	55,579,000	50,957,000	48,550,000	44,605,000	44,898,000	42,162,000	25,753,000	22,987,000	24,628,000	29,563,000	29,196,000	23,405,000	24,385,000		22,750,000	24,056,000	21,680,000	21,970,000	21,280,000	20,015,000	21,050,000	25,515,000	22,741,000
long-term debt, less current maturities, net of unamortized loan fees	628,237,000	524,019,000	501,611,000	504,199,000	407,675,000	335,931,000	288,570,000	290,716,000	292,804,000	147,494,000	123,795,000	98,655,000	74,306,000	24,869,000									672,601,000	680,531,000	688,464,000	696,378,000	719,067,000	726,970,000	749,624,000	694,045,000	715,265,000	736,387,000	757,561,000	778,686,000	799,782,000	810,873,000	797,224,000	783,595,000	795,426,000	171,535,000
other long-term liabilities:
deferred income taxes	157,618,000	160,129,000	163,268,000	166,397,000	167,716,000	181,613,000	186,305,000	163,726,000	88,147,000	88,938,000	87,830,000	86,335,000	84,600,000	84,639,000	85,622,000	85,665,000	86,014,000	60,231,000	179,416,000	155,623,000	150,652,000	146,771,000	144,273,000	137,674,000	136,451,000	129,651,000	128,582,000	123,169,000	127,453,000	120,846,000	111,125,000	115,809,000	100,879,000	142,056,000	143,197,000	149,763,000			142,181,000	71,767,000	907,000	1,111,000	1,174,000	1,087,000	1,211,000	866,000	866,000	1,169,000	963,000	1,022,000	1,028,000	942,000	832,000	985,000	155,000	130,000	502,000	620,000	715,000	702,000	702,000	674,000	674,000	616,000	616,000	1,848,000	1,848,000	1,217,000	1,483,000	775,000	1,031,000	906,000	2,023,000	1,600,000	1,297,000	482,000	438,000	469,000	532,000
benefit plan obligations	4,150,000	5,122,000	4,934,000	4,864,000	4,945,000	5,091,000	4,971,000	4,161,000	3,943,000	3,972,000	4,035,000	3,887,000	3,758,000	7,711,000	7,760,000	8,097,000	8,216,000	12,490,000	12,763,000	12,785,000	14,645,000	2,255,000	12,247,000	11,980,000	12,675,000
non-current operating lease liabilities	10,632,000	9,890,000	10,378,000	10,945,000	10,794,000	11,657,000	11,431,000	8,362,000	48,358,000	49,502,000	49,872,000	51,629,000	50,477,000	52,001,000	51,835,000	52,719,000	51,692,000	51,786,000	49,249,000	48,047,000	46,095,000	44,808,000
other liabilities	32,340,000	36,229,000	32,146,000	32,645,000	33,525,000	31,008,000	40,505,000	16,281,000	19,883,000	20,078,000	20,483,000	20,866,000	20,218,000	22,059,000	22,056,000	25,636,000	25,631,000	25,030,000	23,989,000	24,453,000	24,905,000	22,303,000	23,896,000	19,153,000	16,990,000	16,676,000	15,559,000	15,034,000	14,364,000	14,567,000	15,080,000	13,787,000	15,293,000	40,180,000	32,499,000	26,057,000	23,743,000	42,597,000	50,514,000	12,027,000	9,039,000	9,469,000	9,653,000	9,694,000	9,607,000	9,384,000	8,326,000	8,137,000	7,259,000	6,893,000	6,454,000	6,570,000	5,857,000	6,016,000	5,670,000	4,845,000	4,620,000	4,656,000	4,887,000	4,970,000	4,767,000	4,829,000	4,023,000	4,133,000	10,026,000	8,881,000	8,665,000	3,889,000	3,485,000
total other long-term liabilities	204,740,000	211,370,000	210,726,000	214,851,000	216,980,000	229,369,000	243,212,000	192,530,000	170,400,000	172,432,000	172,407,000	172,969,000	168,985,000	176,137,000	176,993,000	181,864,000	181,168,000	158,901,000	270,907,000	246,038,000	241,252,000	221,007,000	551,195,000	549,952,000	555,469,000	546,579,000	513,143,000	501,007,000	204,356,000	193,182,000	180,604,000	183,539,000		239,504,000	232,339,000	232,328,000		216,260,000	217,834,000	99,555,000		92,052,000	97,102,000	98,454,000		89,793,000	89,975,000
commitments and contingencies
temporary equity:
redeemable noncontrolling interest	88,506,000	86,956,000	85,433,000	83,936,000	82,464,000	81,018,000	79,380,000
shareholders’ equity:
common stock																																45,075,000	44,787,000	43,908,000	46,766,000	46,083,000	45,482,000	44,427,000	44,344,000	33,274,000	32,776,000	31,611,000	30,904,000	30,307,000	29,712,000	28,667,000	28,236,000	27,783,000	26,759,000	25,908,000	25,452,000	24,973,000	24,688,000	23,774,000	22,833,000	22,366,000	22,043,000	21,086,000	20,651,000	20,147,000	19,833,000	19,056,000	18,793,000	18,651,000	17,890,000	17,094,000	16,877,000	16,683,000	16,139,000		14,925,000	14,691,000	12,215,000	11,714,000	11,322,000	10,441,000	9,268,000	8,684,000	8,128,000
additional paid in capital	157,216,000	155,390,000	153,116,000	150,857,000	147,733,000	145,363,000	143,784,000	69,616,000	66,933,000	65,118,000	62,888,000	60,160,000	57,453,000	56,143,000	54,274,000	52,008,000	49,351,000	47,832,000	46,681,000	46,583,000	47,317,000	45,925,000	44,659,000	43,158,000	42,110,000	48,083,000	47,138,000	46,641,000	47,456,000	47,350,000	46,172,000
retained earnings	723,567,000	736,935,000	747,848,000	758,393,000	768,997,000	778,992,000	785,893,000	798,765,000	584,069,000	586,003,000	584,410,000	582,620,000	580,554,000	586,368,000	589,096,000	592,321,000	592,924,000	600,934,000	644,726,000	591,304,000	539,783,000	507,458,000	472,537,000	443,290,000	427,004,000	427,925,000	413,571,000	400,421,000	386,511,000	385,045,000	359,893,000	352,069,000	297,205,000	249,419,000	245,885,000	245,965,000	243,624,000	256,037,000	263,633,000	270,628,000	256,747,000	256,268,000	248,272,000	237,798,000	227,512,000	230,196,000	222,193,000	213,578,000	204,962,000	206,933,000	200,216,000	192,374,000	184,023,000	187,003,000	185,642,000	180,082,000	175,616,000	179,493,000	176,491,000	173,499,000	170,472,000	175,591,000	171,557,000	166,984,000	160,230,000	161,540,000	155,233,000	149,867,000	154,002,000		142,964,000	138,172,000	135,708,000	129,761,000	125,690,000	128,286,000	124,902,000	122,121,000	113,576,000
accumulated other comprehensive income, net of taxes		353,000	1,000,000	1,223,000	1,853,000	1,003,000	3,405,000	3,262,000	1,668,000	3,242,000	2,127,000										-4,706,000	-5,201,000	-5,739,000	-5,798,000	308,000	-154,000	1,340,000	5,552,000	8,280,000	12,590,000	12,125,000	11,292,000	8,230,000	6,018,000	6,012,000	7,387,000	6,788,000	-2,158,000	-3,870,000	-633,000	415,000
total shareholders’ equity	880,783,000	892,678,000	901,964,000	910,473,000	918,583,000	925,358,000	933,082,000	871,643,000	652,670,000	654,363,000	649,425,000	642,780,000	638,007,000	642,511,000	643,370,000	644,329,000	642,275,000	648,766,000	687,787,000	633,954,000	582,394,000	548,182,000	511,457,000	480,650,000	469,422,000	475,854,000	462,049,000	452,614,000	442,247,000	444,985,000	418,190,000	408,436,000	350,222,000	299,345,000	298,663,000	299,435,000	295,894,000	298,306,000	304,107,000	303,269,000	289,938,000	287,441,000	279,717,000	268,320,000	258,346,000	260,673,000	251,763,000		234,315,000		228,112,000	217,016,000	207,848,000	209,641,000	208,475,000	202,448,000	197,659,000	200,579,000	197,142,000	193,646,000	190,305,000	194,647,000	190,350,000	183,211,000	175,672,000	176,141,000	169,604,000	164,025,000	167,608,000		156,157,000	151,124,000	146,132,000	139,660,000	135,189,000	138,623,000	134,066,000	130,701,000	121,600,000
total liabilities, temporary equity and shareholders’ equity	1,910,762,000	1,850,424,000	1,814,674,000	1,825,453,000	1,740,273,000	1,694,809,000	1,656,333,000
goodwill and intangible assets		157,386,000	156,832,000	157,275,000	157,723,000	162,822,000	169,489,000	81,083,000	81,123,000	81,187,000	81,270,000	81,392,000	81,515,000				89,831,000	106,146,000	106,345,000	106,543,000	106,759,000
current assets held for sale								561,000	561,000	596,000	19,742,000	22,432,000	22,622,000	19,742,000	19,821,000				1,101,193,000	1,117,528,000	1,133,294,000	1,148,601,000
non-current assets held for sale
current liabilities held for sale											3,804,000	3,815,000	3,824,000	3,834,000	3,843,000				423,008,000	443,089,000	452,202,000	470,943,000
non-current liabilities held for sale
liabilities and shareholders’ equity																																	2,017,000				2,016,000				2,015,000				2,014,000				2,013,000				2,012,000				2,011,000				2,010,000				2,009,000				2,008,000			2,007,000			2,006,000				2,005,000
total liabilities and shareholders’ equity								1,445,922,000	1,214,229,000	1,058,710,000	1,027,458,000	1,006,640,000	977,719,000	922,458,000	891,417,000	883,251,000	890,733,000	1,293,090,000	2,115,232,000	2,082,309,000	2,031,707,000	2,001,299,000	1,880,580,000	1,850,777,000	1,860,691,000	1,850,866,000	1,822,040,000	1,799,712,000	1,484,766,000	1,469,827,000	1,452,856,000	1,458,966,000	1,411,860,000	1,447,072,000	1,442,999,000	1,452,989,000	1,484,407,000	1,433,625,000	1,455,841,000	629,372,000	628,740,000	620,244,000	622,257,000	615,506,000	619,242,000	614,612,000	604,003,000		597,006,000		596,082,000	566,728,000	570,740,000	552,791,000	471,989,000	471,605,000	479,979,000	473,141,000	467,299,000	463,165,000	466,437,000	467,073,000	283,930,000	275,137,000	271,725,000	262,997,000	258,565,000	254,785,000	265,981,000		223,727,000	221,524,000	216,662,000	211,663,000	207,720,000	210,696,000	211,693,000	214,488,000	204,921,000
asset retirement obligations									10,069,000	9,942,000	10,187,000	10,252,000	9,932,000	9,727,000	9,720,000	9,747,000	9,615,000	9,364,000	5,490,000	5,130,000	4,955,000	4,870,000	37,929,000	37,422,000	36,914,000	29,956,000	30,779,000	29,846,000	28,584,000	22,372,000	21,867,000	21,164,000	21,211,000	19,240,000	18,367,000	19,386,000	15,666,000	15,828,000	15,769,000	7,412,000	7,266,000	7,159,000	7,522,000	7,256,000	6,928,000	6,856,000	6,763,000	6,611,000	6,485,000	6,214,000	6,086,000	5,966,000	5,896,000	5,883,000	5,804,000	7,693,000	7,610,000	6,905,000	6,777,000	6,649,000	6,542,000	6,166,000	6,100,000	6,033,000
intangible assets, net and goodwill														81,612,000	69,612,000	89,633,000						103,856,000
income taxes payable																		432,760,000		21,622,000	6,951,000							2,306,000								3,958,000	435,000	14,189,000	29,717,000			1,675,000	499,000				581,000							12,984,000	2,329,000					539,000		512,000	954,000			6,209,000	2,308,000				130,000		1,156,000	3,514,000	23,000	316,000	668,000	4,764,000
accumulated other comprehensive loss, net of taxes																			-3,620,000	-3,933,000
inventory, net of allowances of 40 and 66, respectively																							3,295,000
noncurrent operating lease liabilities																							332,850,000	343,723,000	352,439,000	359,985,000	327,868,000	322,635,000
inventory, net of allowances of 71 and 66, respectively																								7,071,000
inventory, net of allowances of 66 and 113, respectively																									5,728,000
deferred lease																													22,436,000	22,162,000	19,309,000	19,543,000	15,782,000
inventory, net of allowances of 196 and 113, respectively																										4,561,000
retirement plan obligations																										10,311,000	10,355,000	10,323,000	11,519,000	13,235,000	13,223,000	13,236,000	13,328,000	16,939,000	17,973,000	17,892,000	17,738,000
inventory, net of allowances of 69 and 113, respectively																											6,566,000
inventory, net of allowances of 81 and 113, respectively																												7,240,000
inventory																													5,265,000	4,962,000	6,207,000	8,161,000	5,704,000	7,439,000	13,994,000	24,855,000	39,043,000	14,128,000	19,419,000
other assets:
investments, including 3,336 and 3,279 carried at fair value																															11,949,000
investments, including 3,268 and 3,279 carried at fair value																																11,717,000
prepaid expenses																																	17,111,000
investments, including 3,279 and 2,907 carried at fair value																																	11,472,000
total other liabilities																																	166,493,000				227,026,000				99,315,000				100,492,000			93,343,000	94,447,000	83,945,000	78,620,000	74,709,000	74,552,000	63,400,000	61,158,000	62,868,000	68,079,000	57,518,000	52,107,000	50,013,000	50,945,000	44,635,000	43,742,000	42,691,000	43,026,000	34,575,000	35,289,000	30,590,000	37,028,000		28,246,000	28,685,000	29,049,000	29,174,000	29,344,000	29,111,000	28,686,000	29,214,000	29,188,000
current assets
investments, including 3,271 and 2,907 carried at fair value																																		11,319,000
other assets																																						609,292,000	626,731,000	78,606,000	80,096,000	79,801,000	74,452,000	74,795,000	74,922,000				80,737,000				80,617,000				96,456,000				106,496,000				8,083,000				9,551,000			15,028,000
current liabilities
other long-term liabilities
deferred lease payable																																		21,089,000	20,303,000	19,230,000	18,042,000	10,869,000	9,370,000	8,349,000	8,142,000	7,913,000	7,686,000	7,429,000	7,180,000	6,916,000	6,658,000	6,393,000	6,156,000	5,884,000	5,582,000	5,221,000	4,903,000	4,620,000	4,395,000	4,296,000	4,174,000	4,056,000	3,949,000	3,833,000	3,734,000	3,592,000	3,518,000	3,430,000	3,351,000	3,259,000	3,208,000	3,329,000	3,142,000		2,750,000	2,715,000	2,641,000	2,586,000	2,526,000	2,461,000	2,422,000	2,352,000	2,230,000
shareholders’ equity
investments, including 3,137 and 2,907 carried at fair value																																			10,849,000
investments, including 3,058 and 2,907 carried at fair value																																				10,607,000
investments, including 2,907 and 2,654 carried at fair value																																					10,276,000
restricted cash																																						2,167,000	2,167,000
investments, including 2,889 and 2,654 carried at fair value																																						10,113,000
building held for sale																																						4,950,000	4,950,000
investments, including 2,784 and 2,654 carried at fair value																																							12,526,000
materials and supplies																																								4,450,000	4,183,000	5,008,000	5,708,000	10,261,000	8,794,000	7,605,000	7,595,000	8,577,000	10,715,000	8,807,000	8,011,000	7,186,000	9,789,000	7,249,000	7,520,000	7,258,000	7,469,000	5,310,000	6,576,000	4,910,000	6,360,000	5,355,000	5,391,000	4,895,000	6,062,000	4,706,000	4,600,000	5,711,000	6,376,000	5,000,000	4,642,000	4,664,000	3,706,000	2,349,000	2,499,000	2,772,000	2,347,000	2,689,000	2,702,000
investments, including 2,706 and 2,654 carried at fair value																																								10,860,000
investments, including 2,654 and 2,661 carried at fair value																																									10,679,000
current maturities of long-term debt																																									23,000,000	23,000,000	23,000,000	23,000,000	23,000,000	23,000,000	17,250,000	11,500,000	5,750,000		517,000	1,238,000	1,977,000	2,719,000	21,920,000	21,916,000	21,913,000	21,911,000	19,559,000	17,180,000	14,823,000	12,508,000	6,616,000	5,588,000	4,561,000	6,357,000	5,703,000	5,509,000	4,399,000		4,285,000	4,248,000	4,177,000	4,142,000	4,109,000	4,075,000	4,605,000	4,565,000	4,526,000
long-term debt, less current maturities																																									178,250,000	184,000,000	189,750,000	195,500,000	201,250,000	207,000,000	212,750,000	218,500,000	224,250,000	230,200,000	230,200,000	230,200,000	230,200,000	230,200,000	147,773,000	153,224,000	158,662,000	164,087,000	169,500,000	174,901,000	180,289,000	185,629,000	24,085,000	26,248,000	28,399,000	22,718,000	24,476,000	36,765,000	36,960,000		16,574,000	17,659,000	19,801,000	20,859,000	21,907,000	22,947,000	27,891,000	29,058,000	31,392,000
investments, including 2,515 and 2,661 carried at fair value																																										10,380,000
accumulated other comprehensive income																																										-438,000	541,000	215,000	1,122,000	1,810,000	1,334,000	2,247,000	2,594,000	2,046,000	2,444,000																												-104,000
investments, including 2,752 and 2,661 carried at fair value																																											10,526,000
investments, including 2,727 and 2,661 carried at fair value																																												10,329,000
investments, including 2,661 and 2,528 carried at fair value																																													10,089,000
investments, including 2,628 and 2,528 carried at fair value																																														9,999,000
net other assets																																														76,788,000	76,724,000	79,067,000		81,097,000	83,126,000	80,266,000		92,979,000	93,277,000	94,656,000		98,502,000	100,931,000	103,431,000		107,837,000	7,916,000	7,944,000		8,649,000	8,941,000	9,312,000			15,237,000		13,938,000	14,055,000	14,138,000	14,393,000	15,094,000	14,690,000	14,517,000
investments, including 2,656 and 2,528 carried at fair value																																															9,668,000
investments, including 2,544 and 2,528 carried at fair value																																																9,463,000
liabilities and shareholders' equity
shareholders' equity
total shareholders' equity																																																243,608,000		234,887,000
total liabilities and shareholders' equity																																																596,595,000		597,499,000
assets held for sale																																																					203,000	59,000	430,000	919,000	2,797,000	6,967,000	7,867,000	8,726,000	9,305,000	10,850,000	10,611,000	10,676,000	10,810,000	10,870,000	10,782,000	10,589,000	28,310,000	27,178,000
investments, including 2,528 and 2,064 carried at fair value																																																	9,332,000
investments, including 2,325 and 2,064 carried at fair value																																																		8,976,000
investments, including 2,190 and 2,064 carried at fair value																																																			8,578,000
investments, including 2,173 and 2,064 carried at fair value																																																				8,448,000
accumulated other comprehensive loss																																																				-331,000	-863,000
investments, including 2,064 and 2,160 carried at fair value																																																					8,214,000
cost in excess of net assets of businesses acquired																																																					10,000	10,962,000	10,962,000	10,962,000	10,962,000	10,962,000	10,962,000	10,962,000	10,962,000	10,885,000	4,418,000	4,418,000	4,418,000	4,547,000	4,547,000	4,547,000	4,547,000	3,313,000	9,852,000	9,852,000	9,852,000	9,852,000	9,852,000	10,103,000	10,103,000	10,103,000	10,103,000
liabilities held for sale																																																							18,000	42,000	267,000	1,017,000	799,000	897,000	910,000	1,328,000	888,000	890,000	858,000	1,092,000	827,000	928,000	1,013,000
investments, including 2,074 and 2,160 carried at fair value																																																						8,136,000
accumulated other comprehensive loss, net of tax																																																						-1,136,000										-2,424,000	-2,448,000	-2,493,000	-2,506,000	-2,525,000	-2,533,000		-1,732,000			-1,815,000
investments, including 1,915 and 2,160 carried at fair value																																																							8,215,000
investments, including 1,986 and 2,160 carried at fair value																																																								8,446,000
investments, including 2,160 and 2,287 carried at fair value																																																									8,305,000
investments, including 2,041 and 2,287 carried at fair value																																																										8,453,000
investments, including 2,375 and 2,287 carried at fair value																																																											8,691,000
investments, including 2,363 and 2,287 carried at fair value																																																												8,740,000
plant in service																																																												474,238,000	466,658,000	448,581,000	382,563,000	378,404,000	373,111,000	344,678,000	336,598,000	324,710,000	321,044,000	284,093,000	297,698,000	289,279,000	276,165,000	272,620,000	267,622,000	263,472,000	259,464,000	256,917,000	248,321,000
plant under construction																																																												29,854,000	25,515,000	19,232,000	17,826,000	12,557,000	9,116,000	22,647,000	20,797,000	11,426,000	5,076,000	17,585,000	10,420,000	11,343,000	5,236,000	4,042,000	6,439,000	6,939,000	6,471,000	5,237,000	9,061,000
property, plant and equipment - sum																																																												504,092,000	492,173,000	467,813,000	400,389,000	390,961,000	382,227,000	367,325,000	357,395,000	336,136,000			308,118,000		281,401,000	276,662,000	274,061,000	270,411,000	265,935,000	262,154,000	257,382,000
less accumulated amortization and depreciation																																																												218,161,000	212,122,000	202,584,000	195,668,000	187,513,000	179,925,000	172,447,000	166,284,000	157,542,000	150,499,000	145,267,000	152,439,000	145,198,000	131,470,000	124,670,000	118,417,000	112,873,000	107,528,000	101,130,000	95,144,000
net property, plant and equipment																																																												285,931,000	280,051,000	265,229,000	204,721,000	203,448,000	202,302,000	194,878,000	191,111,000	178,594,000	175,621,000		155,679,000	155,424,000	149,931,000	151,992,000	155,644,000	157,538,000	158,407,000	161,024,000	162,238,000
investments carried at fair value																																																													2,287,000				1,990,000				1,440,000			2,602,000
other investments																																																													6,803,000				6,715,000				6,948,000			7,334,000			7,075,000				7,365,000
total investments																																																													9,090,000				8,705,000				8,388,000			9,936,000
investments, including 2,163 and 1,990 carried at fair value																																																														9,021,000
investments, including 2,009 and 1,990 carried at fair value																																																															8,657,000
investments, including 2,085 and 1,990 carried at fair value																																																																8,683,000
vendor credits receivable																																																																	88,000	178,000	178,000	3,181,000	5,232,000
investments, including 1,880 and 1,440 carried at fair value																																																																		8,666,000
investments, including 1,635 and 1,440 carried at fair value																																																																			8,406,000
see accompanying notes to unaudited condensed consolidated financial statements.
investments, including 1,405 and 1,440 carried at fair value																																																																				7,856,000
investments, including 1,702 and 2,602 carried at fair value																																																																						8,877,000
investments, including 2,468 and 2,602 carried at fair value																																																																							9,509,000
pension and other																																																																							5,176,000	5,000,000	4,776,000	5,011,000	4,303,000	3,155,000	2,828,000	2,779,000	2,359,000
see accompanying notes to consolidated financial statements.
escrow receivable
securities and investments
available-for-sale securities
total securities and investments																																																																											7,075,000				7,365,000
accumulated other comprehensive income (loss), net of tax																																																																											-1,823,000
accumulated other comprehensive																																																																												-104,000	-104,000	-104,000
receivable from rtb																																																																														11,335,000

Cashflow Statements:

Quarterly

Annual

Unit: USD	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-03-31	2013-12-31	2013-09-30	2013-06-30	2013-03-31	2012-12-31	2012-09-30	2012-06-30	2012-03-31	2011-12-31	2011-09-30	2011-06-30	2011-03-31	2010-12-31	2010-09-30	2010-06-30	2010-03-31	2009-12-31	2009-09-30	2009-06-30	2009-03-31	2008-12-31	2008-03-31	2007-06-30	2007-03-31	2006-12-31	2006-09-30	2006-06-30	2006-03-31

cash flows from operating activities:
net income	-5,373,000	-9,390,000	-9,048,000	-9,132,000	-2,744,000	-5,263,000	-12,872,000	214,696,000	2,589,000	1,593,000	1,790,000	2,066,000	-1,823,000	-2,728,000	-3,225,000	-603,000	830,000	893,058,000	53,422,000	51,521,000	49,275,000	34,921,000	29,247,000	13,280,000	13,521,000	14,354,000	13,150,000	13,910,000	14,852,000	19,090,000	7,824,000	4,829,000	60,595,000	3,534,000	-80,000	2,341,000	-184,000	-7,596,000	-6,996,000	13,881,000	12,108,000	7,996,000	10,474,000	10,286,000	8,649,000	8,003,000	8,615,000	8,616,000	6,676,000	6,717,000	7,842,000	8,351,000	4,916,000	1,361,000	5,560,000	4,466,000	3,972,000	3,002,000	2,992,000	3,027,000	2,714,000	4,034,000	4,573,000	6,754,000	6,258,000	1,584,000	11,385,000	-4,135,000	5,556,000	4,792,000	5,947,000	4,071,000	3,212,000	3,384,000	2,781,000	8,545,000
income from discontinued operations, net of tax					3,446,000	41,000	-99,000	218,786,000									4,538,000	886,326,000	51,566,000	48,472,000
income from continuing operations								-4,090,000					-1,823,000	-2,728,000	-3,225,000	-603,000	-3,708,000	6,732,000	1,856,000	3,049,000	1,600,000
adjustments to reconcile net income to net cash from operating activities:
depreciation and amortization	32,066,000	33,998,000	34,629,000	28,984,000	26,205,000	27,681,000	25,579,000	17,443,000	16,344,000	16,670,000	16,185,000	15,782,000		17,873,000	14,451,000	14,684,000
amortization of intangible assets	494,000	494,000	474,000	474,000																			4,468,000	4,868,000
provision for credit losses	-29,000	677,000	516,000	288,000	384,000	482,000	510,000	756,000
stock-based compensation expense, net of amount capitalized	1,620,000	2,066,000	2,187,000	3,717,000	2,217,000	1,384,000	2,270,000	3,966,000	1,669,000	2,044,000	2,603,000	3,717,000
deferred income taxes	-2,360,000	-2,936,000	-3,048,000	-1,119,000	-1,991,000	-1,542,000	-5,200,000	-1,026,000	-238,000	720,000	756,000	1,735,000	-40,000	-982,000	-43,000	-349,000	17,879,000	1,133,000	-2,005,000	5,256,000	15,589,000	-8,993,000	6,579,000	2,135,000	6,645,000	1,565,000	6,812,000	-3,378,000	8,197,000	7,336,000	-4,989,000	-4,336,000	-41,804,000	-297,000	-9,044,000	-2,910,000		-3,958,000	-51,749,000	-1,489,000	7,012,000	-3,807,000	-2,046,000	-1,610,000	9,236,000	-1,278,000	-2,970,000	-2,013,000	9,316,000	4,697,000	1,647,000	-1,394,000	10,977,000	1,633,000	-802,000	-5,304,000	9,892,000	5,502,000	1,920,000	-1,341,000	4,476,000	-52,000	705,000	-501,000	8,420,000			-6,762,000		-789,000	-368,000	-1,258,000			-617,000	-453,000
impairment expense									0	1,532,000			357,000	477,000
gain on sale of fcc spectrum licenses									0
other	45,000	-262,000	-315,000	480,000	-277,000	753,000	334,000	-184,000	-943,000	-679,000	378,000	740,000	-2,462,000	-347,000	968,000	1,017,000						-632,000	-68,000	-27,000		-6,000											-1,605,000	-486,000	-919,000	3,039,000	-230,000	-324,000	421,000	226,000	674,000	1,183,000	275,000	-12,000	296,000	824,000	456,000	696,000	311,000	539,000	447,000	229,000	206,000	-62,000	88,000	25,000	-202,000	514,000	-128,000	189,000	477,000			516,000		-190,000	-646,000	634,000			-705,000	278,000
changes in assets and liabilities, net of effects of business acquisition:
accounts receivable	-1,821,000	1,079,000	-1,335,000	2,490,000	-1,822,000	-1,595,000	-761,000	1,726,000	-1,596,000	-3,092,000	11,000	4,488,000	-1,740,000	-3,273,000	-1,460,000	5,890,000	1,358,000	-5,564,000	2,508,000	1,861,000	-6,129,000	27,384,000	-31,116,000	2,543,000	-2,770,000	-333,000	-1,434,000	-3,127,000	5,731,000	5,568,000	-14,331,000	3,271,000	10,033,000	1,222,000	3,567,000	1,629,000	6,678,000	12,235,000	-6,802,000	2,470,000	1,942,000	-2,650,000	-2,112,000	1,773,000	-3,147,000	-1,508,000	-1,622,000	52,000	-2,084,000	212,000	-952,000	230,000	-2,948,000	-1,657,000	-2,937,000	-704,000	985,000	-957,000	-1,899,000	-20,000	911,000	-1,711,000	-517,000	-1,803,000	607,000			2,119,000		688,000	-720,000	676,000	-88,000	-1,828,000	93,000	2,077,000
current income taxes	786,000	-30,000	53,000	164,000	228,000	920,000			-44,000	0	432,000	24,676,000	-297,000			459,000	-18,279,000	-5,565,000	3,029,000	-4,334,000	-15,635,000	-6,115,000	3,705,000	2,149,000	-7,323,000	1,161,000	-6,450,000	7,588,000
operating lease assets and liabilities	-401,000	-76,000	-302,000	-135,000	-238,000	110,000	-308,000	75,000		104,000	279,000	129,000		204,000	334,000	80,000
other assets	2,308,000	-831,000	-1,663,000	-682,000	-223,000	309,000	1,141,000	-4,495,000	2,528,000	578,000	2,967,000	-1,030,000	605,000	846,000	-537,000	-1,365,000	1,836,000	-2,317,000	-700,000	-5,824,000	163,000	-5,393,000	4,760,000	-3,489,000	-3,426,000	-6,394,000	-7,219,000	-1,460,000	-2,853,000	-17,302,000	7,985,000	-4,076,000	1,601,000	-36,000	64,000	-190,000	2,654,000	553,000	1,078,000	988,000	-2,378,000	-569,000	475,000	-3,896,000
accounts payable	-433,000	487,000	-17,000	992,000	-1,657,000	557,000	-1,102,000	-38,000	562,000	-419,000	-2,175,000	-837,000	627,000	-735,000	4,257,000	-4,130,000	8,602,000	-6,186,000	841,000	-281,000	-387,000	10,055,000	-5,931,000	-4,400,000	5,798,000	712,000	1,670,000	4,641,000	536,000	-4,399,000	2,270,000	216,000	-5,930,000	9,763,000	-1,159,000	-39,399,000	38,945,000	-1,978,000	3,634,000	1,895,000	6,927,000	-1,263,000	2,916,000	-5,827,000	2,629,000	44,000	2,751,000	-384,000	-3,030,000	-1,559,000	5,259,000	-2,815,000	-3,019,000	-242,000	666,000	-2,095,000	3,853,000	-3,225,000	2,393,000	-3,617,000	4,369,000	3,012,000	-327,000	-3,526,000	4,093,000			186,000		588,000	1,001,000	-3,423,000			-612,000	-268,000
other deferrals and accruals	1,910,000	5,462,000	1,066,000	-5,997,000	2,440,000	1,446,000	336,000	-1,218,000	-962,000	2,329,000	-2,770,000	-3,142,000	-2,392,000	2,392,000	1,580,000	-2,760,000	-1,234,000	-1,341,000	185,000	-4,037,000	150,000	-1,994,000	12,625,000	-3,287,000	5,412,000	174,000	2,041,000	-5,518,000	3,081,000	-2,830,000	4,388,000	-1,919,000	-711,000	1,430,000	6,623,000	-13,101,000		-1,925,000	13,251,000	-3,559,000	1,618,000	1,309,000	159,000	-2,275,000
net cash from operating activities - continuing operations	28,812,000	30,738,000	23,197,000	20,524,000	21,003,000	25,201,000	10,260,000	12,915,000					18,690,000	17,481,000	22,658,000	16,066,000	31,881,000	3,398,000	19,038,000	9,136,000
net cash from operating activities - discontinued operations	-22,000	0			-407,000	-929,000	-7,719,000	2,243,000										-3,944,000	49,481,000	75,530,000
net cash from operating activities	28,790,000	30,738,000	20,946,000	20,524,000	20,596,000	24,272,000	2,541,000	15,158,000	22,085,000	21,889,000	21,476,000	48,324,000	18,690,000	17,481,000	22,658,000	16,066,000		-546,000	68,519,000	84,666,000	75,568,000	98,360,000	67,831,000	61,108,000	65,686,000	63,827,000	67,969,000	61,663,000	76,847,000	61,656,000	66,284,000	60,860,000	64,225,000	71,911,000	62,296,000	24,498,000	55,680,000	45,053,000	17,623,000	43,170,000	36,198,000	22,853,000	36,449,000	23,821,000	23,655,000	24,762,000	33,979,000	32,597,000	20,746,000	21,363,000	29,446,000	22,709,000	19,519,000	32,979,000	22,026,000	22,450,000	26,406,000	20,180,000	16,391,000	17,950,000	21,507,000	18,577,000	19,131,000	15,989,000	14,565,000			21,236,000		14,270,000	10,338,000	11,309,000
cash flows from investing activities:
capital expenditures	-107,373,000	-82,114,000	-86,196,000	-83,236,000	-92,618,000	-75,538,000	-80,861,000	-70,053,000	-66,196,000	-54,196,000	-68,487,000	-67,671,000	-57,252,000	-43,651,000	-43,013,000	-45,693,000		-39,238,000	-40,080,000	-39,482,000	-37,710,000	-16,114,000	-34,327,000	-32,299,000	-31,754,000	-27,914,000	-34,704,000	-44,420,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0			0		0	0	0
free cash flows	-78,583,000	-51,376,000	-65,250,000	-62,712,000	-72,022,000	-51,266,000	-78,320,000	-54,895,000	-44,111,000	-32,307,000	-47,011,000	-19,347,000	-38,562,000	-26,170,000	-20,355,000	-29,627,000		-39,784,000	28,439,000	45,184,000	37,858,000	82,246,000	33,504,000	28,809,000	33,932,000	35,913,000	33,265,000	17,243,000	76,847,000	61,656,000	66,284,000	60,860,000	64,225,000	71,911,000	62,296,000	24,498,000	55,680,000	45,053,000	17,623,000	43,170,000	36,198,000	22,853,000	36,449,000	23,821,000	23,655,000	24,762,000	33,979,000	32,597,000	20,746,000	21,363,000	29,446,000	22,709,000	19,519,000	32,979,000	22,026,000	22,450,000	26,406,000	20,180,000	16,391,000	17,950,000	21,507,000	18,577,000	19,131,000	15,989,000	14,565,000			21,236,000		14,270,000	10,338,000	11,309,000
government grants received	22,631,000	22,603,000	10,352,000	6,929,000	8,144,000	3,441,000	4,943,000	2,710,000
proceeds from escrow related to business acquisition	0
cash disbursed for acquisition, net of cash acquired					0	0																											0					-11,158,000
proceeds from the sale of fcc spectrum licenses									0
proceeds from sale of assets and other	-7,000	33,000	196,000	47,000	164,000	131,000			89,000	58,000	407,000	101,000	512,000	643,000	193,000	86,000	166,000	11,000	175,000	14,000	118,000	-34,000	12,000	274,000	44,000
net cash from investing activities - continuing operations	-84,749,000	-58,007,000	-75,648,000	-76,260,000	-84,310,000	-71,966,000	-421,614,000	-67,343,000					-53,537,000	-42,215,000	-42,820,000	-45,607,000	-41,135,000	-39,227,000	-39,905,000	-39,468,000
net cash from investing activities - discontinued operations					0	0	0	305,827,000										1,944,991,000	-46,000	-882,000
net cash from investing activities	-84,749,000	-58,007,000	-75,648,000	-76,260,000	-84,310,000	-71,966,000	-421,614,000	238,484,000	-64,203,000	-36,838,000	-68,080,000	-67,570,000	-53,537,000	-42,215,000	-42,820,000	-45,607,000		1,905,764,000	-39,951,000	-40,350,000	-39,188,000	-48,860,000	-35,515,000	-32,025,000	-31,710,000	-44,605,000	-34,644,000	-54,375,000	-44,030,000	-29,892,000	-37,760,000	-76,118,000	-36,420,000	-40,585,000	-36,009,000	-38,481,000	-54,256,000	-51,040,000	-691,890,000	-22,827,000	-29,898,000	-14,284,000	-15,604,000	-9,476,000	-16,871,000	-18,213,000	-15,445,000	-17,109,000	-36,172,000	-32,276,000	-22,277,000	-25,838,000	-34,939,000	-20,965,000	-14,815,000	-13,202,000	-19,696,000	-20,690,000	-14,407,000	-15,818,000	-26,747,000	-164,959,000	-9,696,000	-9,339,000	-14,364,000			-9,058,000		-7,656,000	-7,422,000	-3,166,000
cash flows from financing activities:
principal payments on long-term debt	-585,349,000	-2,714,000	-2,715,000	-2,178,000	-2,201,000	-2,225,000	-1,306,000	-1,312,000															-8,531,000	-8,530,000	-8,531,000	-19,889,000	-4,888,000	-19,889,000	-4,889,000	-22,125,000	-12,125,000	-12,125,000	-12,125,000	-12,125,000	-6,063,000	-6,062,000	-5,977,000	-6,559,000	-195,507,000	-5,750,000	-5,750,000	-5,750,000	-5,750,000	-5,750,000					0	-517,000	-721,000	-739,000		-166,773,000	-5,448,000	-5,434,000	-5,423,000	-3,061,000	-3,022,000	-3,032,000	-3,025,000	-23,336,000	-1,134,000	-1,125,000	-1,115,000			-1,085,000	-1,076,000	-1,048,000		-1,015,000
proceeds from credit facility borrowings	691,736,000	25,000,000	0	100,000,000	75,000,000				150,000,000	25,000,000	25,000,000	25,000,000
payments for debt issuance and amendment costs	-17,740,000
proceeds from the issuance of redeemable noncontrolling interest, net of financing fees paid					0	0
dividends paid
taxes paid for equity award issuances	0	0	-248,000	-787,000	-56,000	0	-215,000	-1,456,000	-70,000	0	-161,000	-1,156,000	-90,000	-151,000	-232,000	-603,000	0	0	-141,000	-1,486,000	-35,000	0	-237,000	-1,945,000	1,000	0	-214,000	-2,698,000	-1,212,000	-1,000	-278,000	-1,754,000
payments for financing arrangements and other	-660,000	-952,000	-375,000	-24,000	-51,000	-581,000	-352,000	-394,000	0	-389,000	-27,000	-263,000	-44,000	-417,000	-252,000	-219,000	-112,000	-330,000	-255,000	-496,000
net cash from financing activities	81,542,000	20,813,000	-3,768,000	97,011,000	66,887,000	47,014,000	73,117,000	-3,162,000	145,407,000	24,611,000	24,512,000	23,581,000	45,875,000	24,432,000	-484,000	-822,000	-3,518,000	-1,621,463,000	-8,961,000	-10,531,000	-25,033,000	-9,162,000	-8,836,000	-10,502,000	-29,740,000	-19,898,000	-5,093,000	-22,515,000	-22,938,000	-22,126,000	-12,403,000	-13,879,000	-24,687,000							-7,995,000	-16,776,000	-13,418,000	-5,860,000	-6,110,000		9,000	-130,000	-123,000			-862,000	-862,000			-5,542,000	-5,479,000	-12,698,000	-3,059,000	-3,110,000	-3,028,000	-10,451,000	163,022,000	-1,129,000	-506,000	-3,065,000	-1,066,000	-12,080,000	1,235,000		-864,000		-716,000
net increase in cash, cash equivalents, and restricted cash
cash, cash equivalents, and restricted cash, beginning of period
cash, cash equivalents, and restricted cash, end of period
supplemental disclosures of cash flow information
interest paid, net of amounts capitalized	-4,526,000	-6,381,000	-5,629,000	-4,262,000	-3,140,000	-2,409,000
loss from continuing operations		-9,390,000	-9,048,000	-9,132,000		-5,304,000
cash disbursed for acquisitions, net of cash acquired
net decrease in cash and cash equivalents		-6,456,000				-680,000				9,662,000
cash and cash equivalents, beginning of period		0	0	46,272,000	0	0	0	139,255,000	0	0	0	44,061,000	0	0	0	84,344,000	0	0	0	195,397,000	0	0	0	101,651,000	0	0	0	85,086,000	0	0	0	78,585,000
cash and cash equivalents, end of period		-6,456,000	-58,470,000	87,547,000	3,173,000	-680,000	-345,956,000	389,735,000	103,289,000	9,662,000	-22,092,000	48,396,000	11,028,000	-302,000	-20,646,000	53,981,000	-448,200,000	283,755,000	19,607,000	229,182,000	11,347,000	40,338,000	23,480,000	120,232,000	4,236,000	-676,000	28,232,000	69,859,000	9,879,000	9,638,000	16,121,000	49,448,000
income taxes paid		3,989,000																																						876,000	10,884,000	8,096,000	2,989,000	-850,000
changes in assets and liabilities
payments for debt amendment costs					0	-180,000
net increase in cash and cash equivalents				41,275,000				250,480,000				4,335,000	11,028,000	-302,000	-20,646,000	-30,363,000	-448,200,000	283,755,000	19,607,000	33,785,000	11,347,000	40,338,000	23,480,000	18,581,000	4,236,000	-676,000	28,232,000	-15,227,000	9,879,000	9,638,000	16,121,000	-29,137,000	3,118,000	15,693,000	19,847,000	3,734,000	8,662,000	-13,040,000	-48,589,000	12,348,000	-10,476,000	-4,849,000	14,985,000	8,235,000		6,558,000	18,404,000	15,365,000	-23,639,000	-11,447,000	6,307,000	-3,991,000		73,335,000	1,669,000	3,769,000	-5,988,000	-3,569,000	-1,127,000	-895,000	-15,691,000	16,640,000	8,306,000	6,144,000	-2,864,000	1,652,000	-5,387,000	13,413,000		5,750,000		7,427,000	-1,633,000	-1,294,000
income tax refunds received				164,000						0	451,000	25,030,000
refund received for deposit on fcc spectrum leases
adjustments to reconcile net income to net cash from operating activities, net of effects of business acquisition
changes in assets and liabilities:
income tax (paid) refunds received						428,000
interest paid								5,262,000		2,313,000	1,784,000	1,327,000																																																														607,000
accretion of asset retirement obligations																	123,000	114,000	91,000	93,000	86,000	-569,000	412,000	404,000	385,000	385,000
benefit from credit losses
operating lease right-of-use assets																	2,148,000	761,000	1,201,000	669,000	1,014,000	-18,212,000	8,239,000	12,939,000	13,316,000	12,873,000	17,610,000	7,779,000
lease liabilities																	-1,488,000	-547,000	-1,369,000	-929,000	-1,177,000	20,762,000	-12,250,000	-10,402,000	-14,573,000	-10,293,000	-12,218,000	-9,662,000
payments for debt issuance costs									0	0							0	-788,000
dividends paid, net of dividends reinvested																	-3,406,000
net cash from financing activities - continuing operations													45,875,000	24,432,000	-484,000	-822,000	-3,518,000	-937,968,000	-449,000	-1,982,000
net cash from financing activities - discontinued operations																	0	-683,495,000	-8,512,000	-8,549,000
bad debt expense													720,000				273,000	307,000	311,000	137,000	706,000	78,000	231,000	205,000	528,000	451,000	397,000	367,000	621,000	604,000	389,000	369,000
proceeds from sale of investments
depreciation																	14,196,000	14,049,000	13,101,000	13,043,000	12,442,000	-27,736,000	30,790,000	32,468,000	35,040,000	31,766,000	37,217,000	35,520,000	36,109,000	34,365,000	35,003,000	36,634,000	37,626,000	36,658,000	38,901,000	37,878,000	39,739,000	41,503,000	25,299,000	17,454,000	17,302,000	18,796,000	17,258,000	15,931,000	16,755,000	16,244,000	15,769,000	14,556,000	14,834,000	14,035,000	14,906,000	12,808,000	15,269,000	15,345,000	13,418,000	13,929,000	11,618,000	11,399,000	11,435,000	10,898,000	10,513,000	9,537,000	8,285,000	8,218,000	8,352,000			7,656,000		7,352,000	7,075,000	6,945,000	6,589,000	6,491,000	6,967,000	6,412,000
amortization																	197,000	199,000	198,000	223,000	251,000					4,860,000	5,136,000	5,659,000	5,664,000											285,000	281,000	322,000	406,000	406,000	421,000	487,000	827,000	831,000	854,000	957,000	1,164,000	1,164,000	1,284,000	1,449,000	1,841,000	1,878,000	1,997,000	2,374,000	3,009,000	3,040,000	3,191,000	2,666,000	112,000	109,000	162,000			127,000		156,000	150,000	143,000	436,000	121,000	149,000	125,000
restructuring expense
cash disbursed for acquisitions																									0	0	0	-10,000,000
refund received (cash disbursed) for deposit on fcc spectrum leases
proceeds from term loan borrowings
stock-based compensation expense														1,771,000
stock based compensation expense, net of amount capitalized																3,143,000	1,455,000	1,119,000	192,000	642,000	601,000	786,000	1,615,000	2,905,000	659,000	851,000	593,000	1,714,000	381,000	1,171,000	1,370,000	2,037,000
cash payments for:
interest																																						8,012,000	5,027,000	1,632,000		1,768,000	1,877,000	1,905,000		1,997,000	1,976,000	1,954,000		2,086,000	2,219,000	2,171,000		1,565,000	1,537,000	1,636,000		1,728,000	1,884,000	1,988,000		1,640,000	370,000	382,000		420,000	506,000	511,000		340,000		485,000
gain from patronage and investments and other
net cash (used) provided by operating activities - discontinued operations
net cash (used) provided by operating activities
cash disbursed for deposit on fcc spectrum leases																					0	-14,918,000
net cash provided (used) in investing activities - discontinued operations
net cash provided (used) in investing activities
share repurchases
gain from patronage and investments																		395,000	-401,000	-432,000	-715,000	-360,000	103,000	-339,000
amortization of long-term debt issuance costs																							669,000	674,000	684,000	948,000	685,000	963,000	194,000	1,107,000	1,236,000	1,129,000
income from operations of discontinued operations, net of tax
net cash from operating activities – continuing operations
net cash from operating activities – discontinued operations
net cash from investing activities – continuing operations
net cash from investing activities – discontinued operations
net cash from financing activities – continuing operations
net cash from financing activities – discontinued operations
inventory																							3,776,000	-1,343,000	-1,167,000	2,005,000	674,000	-1,975,000	-302,000	1,244,000	1,954,000	-2,457,000	1,735,000	6,555,000	10,861,000	14,188,000		5,290,000
waived management fee																							9,909,000	9,798,000	9,811,000	9,696,000	9,692,000	9,628,000	9,599,000	9,558,000	9,558,000	9,048,000
deferred lease																													564,000	2,806,000	617,000	736,000
cash disbursed for fcc spectrum licenses																									0
repurchase of common stock
proceeds from revolving credit facility borrowings																													0	0	0	15,000,000
principal payments on revolving credit facility																													0	0	0	-15,000,000
proceeds from exercise of stock options and other
net gain from patronage and investments																										-954,000
proceeds from exercises of stock options																										0	9,000	72,000
proceeds from sale of assets																											55,000	53,000	300,000	93,000	184,000	263,000	624,000																	246,000				-3,104,000				250,000
loss on investments																												-250,000	387,000	-88,000	-57,000	33,000
net loss from patronage and equity investments																												-890,000	-1,088,000	-748,000	-722,000	-830,000
net benefit from retirement plans																												-38,000
accrued interest and other																												192,000		104,000
cash distributions (contributions) from investments and other																												-8,000	2,000	2,000
amortization reflected as rent expense in cost of services																													-30,000	197,000
income taxes receivable																													-2,903,000	-1,790,000	7,772,000	8,950,000	-10,434,000	-6,796,000			-600,000	600,000	713,000	6,981,000	-7,694,000	0	5,433,000	9,319,000	-12,610,000	-2,142,000	7,745,000	8,831,000	-6,262,000	-5,525,000	-2,550,000	2,466,000	-4,705,000			11,147,000	-6,025,000	-3,051,000	-3,419,000	2,576,000	-2,576,000	0	734,000	4,797,000
income taxes payable																																		0	-3,958,000	3,523,000	-15,790,000	-17,970,000				1,176,000												-1,840,000						539,000		-442,000
acquisition of property, plant and equipment																													-44,332,000	-29,987,000	-37,940,000	-24,382,000	-37,054,000	-40,669,000	-30,179,000	-38,587,000	-70,381,000	-42,727,000	-39,586,000	-20,537,000	-30,035,000	-14,509,000	-15,635,000	-9,500,000
release of restricted cash
proceeds from issuance of common stock
interest, net of capitalized interest of 1,556; 1,559 and 1,374 in 2018, 2017 and 2016, respectively
income tax (refunds received) paid
capital expenditures payable																													11,582,000	5,595,000	1,045,000	5,279,000
sprint expansion																														0	0	-52,000,000
interest, net of capitalized interest of 1,187 and 1,266, respectively
income tax (refunds received) payments
amortization reflected as operating expense																															6,114,000	6,853,000	7,084,000	5,910,000	6,024,000	6,926,000	6,985,000	5,304,000
interest, net of capitalized interest of 737 and 1,035, respectively
income tax refunds received, net of taxes paid																															80,000	-3,439,000
cash flows from operating activities
amortization reflected as rent expense																																81,000	-645,000	1,580,000	335,000	258,000
net loss on disposal of equipment																																-4,000
accrued interest on long-term debt																																296,000
cash flows from investing activities
cash distributions (contributions) from investments																																1,000
cash flows from financing activities
interest, net of capitalized interest of 309 and 577, respectively																																8,513,000
net (gain) loss on disposal of equipment																																	38,000	164,000						-15,000			216,000	11,000			112,000	-425,000					362,000
(gain) loss on investments
net (gain) income from patronage and equity investments																																																		-316,000	-140,000	-171,000		-126,000	-295,000	-343,000		-160,000	-13,000	186,000		52,000	-63,000	78,000				485,000		237,000		-93,000
amortization of long term debt issuance costs																																				1,202,000	1,306,000	1,403,000	1,073,000	132,000	137,000	141,000	143,000	146,000
increase in:
cash distributions from investments, net of contributions
excess tax benefits from stock compensation
proceeds from issuances of common stock																																				5,000	5,000	420,000	139,000	2,809,000
cash and cash equivalents:
beginning																																	0	0	0	36,193,000	0	0	0	76,812,000	0	0	0	68,917,000		0	0	38,316,000	0	0	0	71,086,000		0	0	15,874,000	0	0	0	27,453,000	0	0	0	12,054,000	0	0	0	5,240,000	0	17,245,000		13,440,000	0	0
ending																																	3,118,000	15,693,000	19,847,000	39,927,000	8,662,000	-13,040,000	-48,589,000	89,160,000	-10,476,000	-4,849,000	14,985,000	77,152,000		6,558,000	18,404,000	53,681,000	-23,639,000	-11,447,000	6,307,000	67,095,000		73,335,000	1,669,000	19,643,000	-5,988,000	-3,569,000	-1,127,000	26,558,000	-15,691,000	16,640,000	8,306,000	18,198,000	-2,864,000	1,652,000	-5,387,000	18,653,000	-2,078,000	22,995,000		20,867,000	-1,633,000	-1,294,000
supplemental cash flow information
cash paid for interest, net of capitalized interest of 1,559 in 2017, 1,374 in 2016, and 436 in 2015
accounts payable for purchases and investment in property, plant and equipment
amortization reflected as contra revenue																																		5,242,000	5,343,000	4,978,000	5,147,000	5,593,000
benefit from bad debt																																		593,000	466,000	420,000		526,000	407,000	345,000		430,000	584,000	321,000	523,000	605,000	316,000	234,000		552,000	499,000	453,000	735,000	902,000	609,000	624,000		630,000	645,000	1,284,000		478,000	189,000	177,000
straight line adjustment to management fee revenue																																		4,320,000	4,434,000	4,206,000	4,287,000
stock based compensation expense																																		635,000	852,000	1,566,000	451,000	613,000	909,000	1,048,000	440,000	463,000	605,000	825,000	472,000	422,000	583,000	1,147,000	398,000	495,000	620,000	425,000	417,000	429,000	593,000	403,000	383,000	433,000	592,000	310,000	253,000	260,000	137,000	142,000	178,000			116,000		-47,000	11,000	78,000			227,000	191,000
unrealized (gain) loss on investments																																										244,000	-16,000	-38,000				29,000
net (gains) income from patronage and equity investments
amortization of debt issuance costs																																		1,187,000
deferred lease payable																																		1,236,000	1,162,000	1,331,000	1,545,000	1,500,000	1,020,000	208,000	229,000	227,000	257,000	249,000	264,000	258,000	265,000	237,000	272,000	302,000	361,000	318,000	283,000	225,000	99,000	122,000	97,000	105,000	107,000	107,000	137,000	72,000	87,000	78,000	91,000			185,000		35,000	53,000	62,000	65,000	40,000	69,000	122,000
cash distributions from investments																																		5,000	19,000	3,000	99,000	2,743,000	8,000	45,000	16,000	35,000
additional contributions to investments																																		-8,000	-1,000	-14,000
amounts borrowed under debt agreements																																		0	0	25,000,000	25,000,000	0																							0				5,000,000	0	0	2,000,000
cash paid for debt issuance costs																																						0	-13,297,000	-1,528,000	-60,000																				-117,000
repurchases of common stock																																		-3,508,000	-372,000	-1,226,000		-914,000	-657,000	-3,526,000
interest, net of capitalized interest of 1,266 and 909, respectively
income taxes paid, net of refunds received																																		4,417,000				11,055,000
unrealized (gain) on investments
net (gains) from patronage and equity investments
proceeds from sale of equipment																																			152,000	117,000		102,000	40,000	145,000	121,000	190,000	28,000	24,000	161,000	167,000					162,000	128,000			85,000	71,000	615,000	-124,000	114,000	70,000	-245,000	254,000	9,000	240,000				57,000	401,000	108,000	208,000	151,000	0	252,000
acquisition of expansion area
net cash provided by/(used in) financing activities																																			-6,440,000	17,717,000		-7,053,000
interest, net of capitalized interest of 1,035 and 454, respectively
net gain on disposal of equipment																																				-28,000
unrealized gain on investments																																				-120,000
net gains from patronage and equity investments																																				-200,000		-182,000	-105,000	-210,000	-265,000	-155,000	-183,000	-202,000		-378,000	-126,000	-163,000
cash disbursed for acquisition																																								-2,480,000
interest, net of capitalized interest of 577 and 146, respectively																																				8,380,000
provision for bad debt
excess tax benefits on stock option exercises																																																					0								0	0	0	-70,000	0	-121,000	116,000	-58,000	-129,000	-44,000	-56,000	-39,000
unrealized (gains) loss on investments
decrease in:
interest, net of capitalized interest of 1,374 in 2016, 436 in 2015, and 373 in 2014
balance at beginning of year
losses charged to allowance
recoveries added to allowance
balance at end of year
excess tax benefits on stock awards																																										-205,000	-93,000	-357,000		-1,000	-89,000	-305,000		-8,000	-31,000	-30,000
realized loss on disposal of investments																																									0																0	0	0	27,000			-3,000	150,000
straight line adjustment to reduce management fee revenue
net income on disposal of equipment																																													236,000					67,000	67,000	100,000			-43,000	55,000			58,000	53,000		158,000	13,000	145,000
unrealized gains on investments																																								-16,000						34,000				-130,000
materials and supplies																																								-267,000	206,000	700,000	1,053,000	-1,467,000	-1,190,000	-9,000	982,000	2,138,000	-1,909,000	-796,000	-825,000	2,603,000	-2,541,000	271,000	-262,000	211,000	-2,130,000	1,266,000	-1,666,000	1,450,000	-969,000	36,000	-496,000	1,167,000	-1,224,000			665,000		22,000	-1,357,000	150,000			342,000	13,000
proceeds from sales of assets																																																				25,000				1,146,000
purchase of investment securities																																																	1,000	-1,000	0	-12,000					0	0	0	-84,000	-13,000	-48,000	-23,000	-43,000	-248,000			-41,000	-209,000	-63,000					-268,000	-32,000
interest, net of capitalized interest of 436 in 2015, 373 in 2014, and 396 in 2013
repurchases of stock																																										-349,000	-687,000	-763,000		-14,000	-231,000	-1,540,000	-303,000	-967,000	-175,000	-155,000		-1,000	-96,000	-47,000	0	0
proceeds from issuances of stock																																										296,000	484,000	46,000		22,000
goodwill impairment
realized (gain) loss on disposal of investments																																																		3,000	1,000	-3,000			12,000	-48,000
unrealized (gains) losses on investments																																																					59,000					340,000	-6,000	-98,000		-135,000	103,000	-197,000
net gain from patronage and equity investments
write-off of unamortized loan fees																																																					0
changes in assets and liabilities, exclusive of acquired businesses:
other prepaids, deferrals and accruals																																													837,000	1,327,000	68,000	-772,000	751,000	836,000	1,132,000	-2,399,000	312,000	1,622,000	-622,000	-1,959,000	1,088,000	3,085,000	693,000	-495,000	-3,260,000	4,098,000	809,000	82,000	-12,373,000			2,249,000		1,231,000	-899,000	3,335,000	-3,035,000	772,000	-3,499,000	3,642,000
realized gain on disposal of investments
purchase and construction of property, plant and equipment																																														-18,393,000					-22,458,000	-26,024,000		-21,312,000	-17,468,000	-14,831,000	-22,158,000	-20,874,000	-15,510,000	-16,121,000		-14,676,000	-9,694,000	-9,570,000
(purchase) sale of investment securities
proceeds from sale of investment securities																																														13,000	24,000	3,000	11,000	46,000	19,000	45,000	24,000	342,000	449,000	412,000	31,000	58,000	69,000	317,000	8,000	8,000	12,000	34,000
income taxes (received) paid																																																		6,047,000				-10,263,000
purchase and construction of property, plant, and equipment																																																-17,196,000
cash received from sales of equipment																																																84,000
proceeds from sale of stock																																																1,112,000				2,000				2,000
income taxes (refunded) paid																																																-1,192,000
impairments on assets held for sale
unrealized losses on investments
proceeds from exercise of incentive stock options																																																						407,000			40,000	2,000	4,000	4,000	4,000	3,000	5,000	549,000	57,000	33,000	15,000	262,000	219,000	140,000		260,000	500,000	301,000
interest, net of capitalized interest of 396 in 2013, 486 in 2012, and 215 in 2011
income taxes paid (refunded)
write-off unamortized loan fees
cash received from sales of converged services' properties
amount borrowed under debt agreements
proceeds from stock issuances
net cash (used in) / provided by financing activities
supplemental disclosures of cash flow information cash payments for:
unrealized (gains) on investments																																																				-93,000				-161,000
cash paid (received) for:
income taxes																																																				4,302,000				-2,532,000	-1,199,000	654,000	4,284,000	509,000	432,000	4,036,000	762,000	427,000	6,223,000	1,407,000	86,000	103,000		2,000		758,000	3,682,000	2,459,000
pension settlement and curtailment expense
gain on sale of assets
net (gain) income from patronage and equity
investments
cash paid to acquire prepaid subscriber rights
cash paid to acquire businesses
non-cash impairment charge
realized (gains) losses on investments
cash received from sales of converged services’ properties
impairment on assets held for sale																																																																	0			17,545,000
interest, net of capitalized interest of 215 in 2011, 488 in 2010, and 541 in 2009
pension settlement and curtailment expenses																																																														0
realized (gain) on sale of directory
cash paid for acquisition of business
cash received on sale of directory
loss on disposal of equipment
unrealized loss on investments
purchase and construction of plant and equipment																																																																	-15,560,000			-9,077,000	-26,669,000	-7,757,000
cash paid to acquire prepaid subscriber base
interest, net of capitalized interest of 488 in 2010, 541 in 2009, and 748 in 2008
gain on sale of cable assets
unrealized loss on investments carried at fair value
net loss on disposal of investments
proceeds from sales of equipment
proceeds from sale of cable assets
proceeds from investment securities
repurchase of stock
interest, net of capitalized interest of 541 in 2009, 748 in 2008, and 20 in 2007
loss on disposal of assets																																																																				257,000		42,000	518,000	28,000	333,000	559,000	370,000	134,000
realized losses on investments carried at fair value																																																																				181,000		39,000
unrealized (gains) losses on investments carried at fair value																																																																				-96,000
proceeds from investment activities																																																																				3,000	79,000	56,000	316,000	141,000	25,000	17,000	11,391,000	56,000
principal payments on long—term debt
three months ended june 30, 2008
cost of goods and services
total operating expenses
operating income
income from continuing operations before income taxes
income tax expense
net income from continuing operations
six months ended june 30, 2008
cumulative effect of change in accounting principle																																																																									0	0	0	77,000
changes in assets and liabilities, exclusive of acquired business:
cash paid to acquire business
payments on lines of credit
interest, net of capitalized interest of 748 in 2008, 20 in 2007, and 19 in 2006
unrealized losses on investments carried at fair value																																																																						158,000
cash flows from operating activities from continuing operations
adjustments to reconcile net income to net cash from operating activities from continuing operations:
net gain on disposal of investments																																																																											0	-10,542,000
net cash from operating activities from continuing operations																																																																									9,144,000	9,508,000	5,320,000	10,378,000
acquisition of businesses, net of cash acquired
net cash from investing activities from continuing operations																																																																											6,491,000	-5,540,000
net cash from financing activities from continuing operations
net cash from (used in) continuing operations
net cash from operating activities from discontinued operations
net increase (decrease) in cash and cash equivalents
interest, net of capitalized interest of 20 in 2007, 19 in 2006, and 20 in 2005
cumulative effect of change in accounting principle, net of taxes
purchase and construction of plant and equipment, net of retirements																																																																							-5,361,000	-3,458,000			-4,703,000	-5,564,000
net payments on lines of credit
(increase) decrease in:
increase (decrease) in:
proceeds from issuance of long-term debt
net payments of lines of credit
repurchase of stock from drip participants
net cash from continuing operations																																																																									-1,633,000	-1,294,000
interest, net of capitalized interest of 19 in 2006; 20 in 2005, and 30 in 2004
net (income) income from patronage and equity investments
net income from patronage and equity investments																																																																												25,000
income from discontinued operations
net cash from investing activities from discontinued operations
interest, net of capitalized interest of 20 in 2005; 30 in 2004, and 26 in 2003

Shenandoah Telecommunications Company(NASDAQ:SHEN)

Shenandoah Telecommunications Company
(NASDAQ:SHEN)