Shenandoah telecommunications company (SHEN)
Balance Sheet / Yearly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Dec'10
ASSETS
Current assets:
Cash and cash equivalents

120,232

101,651

97,415

98,091

69,859

85,086

75,207

65,569

49,448

78,585

75,467

59,774

39,927

36,193

27,531

40,571

89,160

76,812

87,288

92,137

77,152

68,917

78,643

72,085

53,681

38,316

61,955

73,402

67,095

71,086

94,647

21,312

19,643

15,874

21,862

25,431

27,453

Restricted cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,167

2,167

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accounts receivable, net of allowance for doubtful accounts of $410 and $533, respectively

61,526

63,541

60,084

59,561

58,153

54,407

59,968

58,614

51,095

54,184

64,396

65,797

68,709

69,789

79,944

77,392

27,012

29,778

32,025

29,806

28,277

30,371

27,747

26,844

25,538

25,824

24,255

25,019

24,566

25,274

23,735

22,794

22,242

21,483

20,915

20,614

20,634

Income taxes receivable

8,157

10,306

2,983

4,144

0

5,282

2,545

589

8,360

17,311

7,689

1,739

-

0

0

0

712

7,694

0

0

5,433

14,752

2,141

0

7,745

16,576

10,329

4,789

2,239

4,705

0

0

1,347

12,495

6,470

3,419

2,576

Inventory, net of allowances of $71 and $66, respectively

7,071

5,728

4,561

6,566

7,240

5,265

4,962

6,207

8,161

5,704

7,439

13,994

24,855

39,043

14,128

19,419

4,450

4,183

5,008

5,708

10,261

8,794

7,605

7,595

8,577

10,715

8,807

8,011

7,186

9,789

7,249

7,520

7,258

7,469

5,310

6,576

6,360

Prepaid expenses and other

60,923

60,527

56,597

53,786

52,533

60,162

63,383

64,163

64,200

17,111

18,226

16,765

16,989

16,440

17,759

18,562

7,623

8,573

6,196

5,577

5,998

4,279

4,980

4,411

5,626

5,580

5,602

5,548

5,790

4,546

5,076

4,576

5,433

3,844

3,932

3,718

3,770

Deferred income taxes

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

907

1,111

1,174

1,087

1,211

866

866

1,169

963

1,022

1,028

942

832

985

155

130

502

620

715

702

Assets held for sale

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

203

59

430

919

2,797

6,967

7,867

9,305

Total current assets

257,909

241,753

221,640

222,148

187,785

210,202

206,065

195,142

181,264

172,895

173,217

158,069

150,480

161,465

141,529

158,111

128,957

127,947

131,628

134,402

128,208

128,324

121,982

111,801

102,336

97,974

111,970

117,797

107,818

116,435

131,751

56,787

56,972

64,464

66,076

68,340

70,800

Investments

12,011

12,388

11,851

11,563

11,274

10,788

12,296

11,949

11,717

11,472

11,319

10,849

10,607

10,276

10,113

12,526

10,860

10,679

10,380

10,526

10,329

10,089

9,999

9,668

9,463

9,332

8,976

8,578

8,448

8,214

8,136

8,215

8,446

8,305

8,453

8,691

9,090

Building held for sale

-

-

-

-

-

-

-

-

-

-

-

-

-

-

4,950

4,950

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Property, plant and equipment, net

695,920

701,514

688,516

695,725

701,980

701,359

669,709

668,339

672,017

686,327

683,355

679,463

689,948

698,122

667,741

653,523

410,949

410,018

398,435

402,877

402,174

405,907

405,843

405,810

405,729

408,963

395,456

386,581

370,196

365,474

319,925

313,710

311,531

310,754

300,110

289,337

280,051

Intangible Assets, Net (Excluding Goodwill)

299,458

314,147

328,831

324,890

339,714

366,029

381,537

396,908

413,537

380,979

421,672

436,656

443,308

454,532

458,401

464,146

67,283

66,993

67,274

67,535

67,939

68,260

68,680

69,165

69,991

70,816

71,673

72,625

73,783

74,932

76,210

77,638

79,474

81,346

83,201

85,543

90,389

Goodwill

149,070

149,070

149,070

149,070

149,070

146,497

146,497

146,497

146,497

146,497

146,497

146,497

144,001

145,256

145,413

151,730

-

10

-

-

-

-

-

-

-

-

-

-

-

-

10,962

10,962

10,962

10,962

10,962

10,962

10,962

Operating lease right-of-use assets

382,973

392,589

400,489

369,715

361,564

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred Costs, Noncurrent

53,436

53,352

50,469

48,929

48,325

49,891

53,723

34,021

33,934

13,690

11,012

11,465

14,645

14,756

5,478

10,855

11,323

11,504

12,527

6,917

6,856

6,662

8,108

7,559

9,076

9,921

9,424

10,501

6,483

5,685

5,807

4,677

4,220

4,148

4,339

4,426

5,145

Other assets, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

609,292

626,731

78,606

-

79,801

74,452

74,795

74,922

76,788

76,724

79,067

80,737

81,097

83,126

80,266

80,617

92,979

93,277

94,656

96,456

98,502

100,931

106,496

Total assets

1,850,777

1,864,813

1,850,866

1,822,040

1,799,712

1,484,766

1,469,827

1,452,856

1,458,966

1,411,860

1,447,072

1,442,999

1,452,989

1,484,407

1,433,625

1,455,841

629,372

627,151

620,244

622,257

615,506

619,242

614,612

604,003

596,595

597,006

597,499

596,082

566,728

570,740

552,791

471,989

471,605

479,979

473,141

467,299

466,437

LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Current maturities of long-term debt, net of unamortized loan fees

31,672

31,650

31,634

27,939

24,293

20,618

84,743

84,631

74,486

64,397

54,316

44,247

38,124

32,041

25,972

20,147

22,508

22,492

23,000

23,000

23,000

23,000

23,000

17,250

11,500

5,750

0

517

1,238

1,977

2,719

21,920

21,916

21,913

21,911

19,559

14,823

Accounts payable

30,384

40,295

26,470

27,657

25,410

35,987

23,868

22,674

27,194

28,953

31,462

22,433

25,390

72,810

34,974

27,951

10,720

13,009

8,008

9,410

7,524

11,151

8,522

8,478

5,727

12,604

23,631

34,721

20,500

31,729

10,072

10,314

9,569

11,708

7,790

10,953

12,237

Advanced billings and customer deposits

8,414

8,358

8,127

7,914

8,095

7,919

7,415

6,668

6,919

21,153

21,109

20,883

21,029

20,427

21,979

23,024

11,981

11,674

11,818

11,373

11,510

12,375

12,336

11,912

12,042

11,661

11,161

11,282

11,191

11,190

10,730

10,457

11,108

10,647

10,022

8,989

8,067

Accrued compensation

5,787

10,075

6,915

6,817

4,488

9,452

6,833

6,738

4,534

9,167

7,373

7,100

3,678

9,465

6,817

6,020

2,037

5,915

3,956

3,480

3,017

5,466

4,850

2,961

2,633

4,192

3,852

2,314

2,277

2,671

3,439

1,983

2,128

2,094

2,627

1,401

3,278

Income taxes payable

-

-

-

-

2,306

-

-

-

-

-

0

0

3,958

435

14,189

29,717

-

0

1,675

499

-

-

-

581

-

-

-

-

-

-

12,984

2,329

-

-

-

-

-

Current operating lease liabilities

44,204

42,567

44,178

42,941

39,400

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accrued liabilities and other

19,183

14,391

14,731

14,513

15,129

14,563

14,756

18,086

17,471

13,914

15,277

17,552

18,174

29,085

31,533

31,615

7,767

7,639

8,294

7,926

8,181

7,162

8,438

8,333

9,242

9,787

9,823

10,316

9,597

10,573

9,606

7,562

8,302

8,950

7,590

6,849

5,583

Liabilities held for sale

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

18

42

267

1,017

799

910

Total current liabilities

139,644

147,336

132,055

127,781

119,121

88,539

137,615

138,797

130,604

137,584

129,537

112,215

110,353

164,263

135,464

138,474

55,013

60,729

56,751

55,688

53,232

59,154

57,146

49,515

41,144

43,994

48,467

59,150

44,803

58,140

49,550

54,583

53,065

55,579

50,957

48,550

44,898

Long-term debt, less current maturities, net of unamortized loan fees

680,531

688,464

696,378

719,067

726,970

749,624

694,045

715,265

736,387

757,561

778,686

799,782

810,873

797,224

783,595

795,426

171,535

177,169

184,000

189,750

195,500

201,250

207,000

212,750

218,500

224,250

230,200

230,200

230,200

230,000

230,200

147,773

153,224

158,662

164,087

169,500

180,289

Other long-term liabilities:
Deferred income taxes

137,674

137,567

129,651

128,582

123,169

127,453

120,846

111,125

115,809

100,879

142,056

143,197

149,763

151,837

146,966

142,181

71,767

74,868

67,511

72,241

74,075

76,777

66,637

68,228

72,202

74,547

64,954

60,498

56,952

57,896

46,881

45,289

46,034

51,675

41,901

36,494

35,902

Deferred lease

-

-

0

-

-

22,436

22,162

19,309

19,543

15,782

21,089

20,303

19,230

18,042

10,869

9,370

8,349

8,142

7,913

7,686

7,429

7,180

6,916

6,658

6,393

6,156

5,884

5,582

5,221

4,903

4,620

4,395

4,296

4,174

4,056

3,949

3,734

Asset retirement obligations

37,422

36,914

29,956

30,779

29,846

28,584

22,372

21,867

21,164

21,211

19,240

18,367

19,386

15,666

15,828

15,769

7,412

7,266

7,159

7,522

7,256

6,928

6,856

6,763

6,611

6,485

6,214

6,086

5,966

5,896

5,883

5,804

7,693

7,610

6,905

6,777

6,542

Benefit plan obligations

11,980

12,675

10,311

10,355

10,323

11,519

13,235

13,223

13,236

13,328

16,939

17,973

17,892

17,738

-

-

-

2,654

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Noncurrent operating lease liabilities

343,723

352,439

359,985

327,868

322,635

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other liabilities

19,153

16,990

16,676

15,559

15,034

14,364

14,567

15,080

13,787

15,293

40,180

32,499

26,057

23,743

42,597

50,514

12,027

6,385

9,469

9,653

9,694

9,607

9,384

8,326

8,137

7,259

6,893

6,454

6,570

6,057

6,016

5,670

4,845

4,620

4,656

4,887

4,767

Total other long-term liabilities

549,952

556,585

546,579

513,143

501,007

204,356

193,182

180,604

183,539

166,493

239,504

232,339

232,328

227,026

216,260

217,834

99,555

99,315

92,052

97,102

98,454

100,492

89,793

89,975

93,343

94,447

83,945

78,620

74,709

74,752

63,400

61,158

62,868

68,079

57,518

52,107

50,945

Commitments and contingencies (Note 13)

-

-

-

-

-

-

-

-

-

-

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

Shareholders’ equity:
Common stock, no par value, authorized 96,000; 49,842 and 49,671 issued and outstanding at March 31, 2020 and December 31, 2019, respectively

0

0

0

0

0

0

0

0

45,075

0

43,908

46,766

46,083

45,482

44,427

44,344

33,274

32,776

31,611

30,904

30,307

29,712

28,667

28,236

27,783

26,759

25,908

25,452

24,973

24,688

23,774

22,833

-

22,043

-

-

-

Additional paid in capital

43,158

42,110

48,083

47,138

46,641

47,456

47,350

46,172

-

44,787

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

22,366

-

21,086

20,651

19,833

Retained earnings

443,290

430,010

427,925

413,571

400,421

386,511

385,045

359,893

352,069

297,205

249,419

245,885

245,965

243,624

256,037

263,633

270,628

256,747

256,268

248,272

237,798

227,512

230,196

222,193

213,578

204,962

206,933

200,216

192,374

184,023

187,003

185,642

180,082

175,616

179,493

176,491

170,472

Accumulated Other Comprehensive Income (Loss), Net of Tax

-5,798

308

-154

1,340

5,552

8,280

12,590

12,125

11,292

8,230

6,018

6,012

7,387

6,788

-2,158

-3,870

-633

415

-438

541

215

1,122

1,810

1,334

2,247

2,594

2,046

2,444

-331

-863

-1,136

-

-

0

-

-

-

Total shareholders’ equity

480,650

472,428

475,854

462,049

452,614

442,247

444,985

418,190

408,436

350,222

299,345

298,663

299,435

295,894

298,306

304,107

303,269

289,938

287,441

279,717

268,320

258,346

260,673

251,763

243,608

234,315

234,887

228,112

217,016

207,848

209,641

208,475

202,448

197,659

200,579

197,142

190,305

Total liabilities and shareholders’ equity

1,850,777

1,864,813

1,850,866

1,822,040

1,799,712

1,484,766

1,469,827

1,452,856

1,458,966

1,411,860

1,447,072

1,442,999

1,452,989

1,484,407

1,433,625

1,455,841

629,372

627,151

620,244

622,257

615,506

619,242

614,612

604,003

596,595

597,006

597,499

596,082

566,728

570,740

552,791

471,989

471,605

479,979

473,141

467,299

466,437