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Document and Entity Information - USD ($) $ in Millions	12 Months Ended
Document and Entity Information - USD ($) $ in Millions	Dec. 31, 2015	Feb. 29, 2016	Jun. 30, 2015
Document and Entity Information
Entity Registrant Name	ATLANTIC TELE NETWORK INC /DE
Entity Central Index Key	0000879585
Document Type	10-K
Document Period End Date	Dec. 31, 2015
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Public Float			$ 748
Entity Common Stock, Shares Outstanding		16,076,094
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	FY

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Current Assets:
Cash and cash equivalents	$ 392,045	$ 326,216
Restricted cash	824	39,703
Accounts receivable, net of allowances of $11.3 million and $9.2 million, respectively	39,020	52,873
Materials and supplies	8,220	10,546
Deferred income taxes		2,588
Prepayments and other current assets	28,383	19,273
Assets of discontinued operations		175
Total current assets	468,492	451,374
Fixed Assets:
Property, plant and equipment	807,247	763,417
Less: accumulated depreciation	(433,744)	(393,835)
Net fixed assets	373,503	369,582
Telecommunication licenses, net	43,468	44,090
Goodwill	45,077	45,077
Trade name license, net	417	417
Customer relationships, net	1,081	1,496
Restricted cash	5,477	5,475
Other assets	7,489	7,519
Total assets	945,004	925,030
Current Liabilities:
Current portion of long-term debt	6,284	6,083
Accounts payable and accrued liabilities	44,137	61,737
Dividends payable	5,142	4,631
Accrued taxes	9,181	5,667
Advance payments and deposits	9,459	7,898
Deferred income taxes		213
Other current liabilities	10,152	16,593
Liabilities of discontinued operations		1,247
Total current liabilities	84,355	104,069
Deferred income taxes	45,406	30,366
Other long -term liabilities	26,944	19,619
Long-term debt, excluding current portion	26,575	32,794
Total liabilities	183,280	186,848
Commitments and contingencies (Note 15)
Atlantic Tele-Network, Inc. Stockholders' Equity:
Preferred stock, $0.01 par value per share; 10,000,000 shares authorized, none issued and outstanding
Common stock, $0.01 par value per share; 50,000,000 shares authorized; 16,647,334 and 16,828,576 shares issued, respectively, and 15,925,748 and 16,068,295 shares outstanding, respectively	168	166
Treasury stock, at cost; 721,586 and 760,840 shares, respectively	(18,254)	(15,549)
Additional paid-in capital	154,768	145,563
Retained earnings	547,321	549,963
Accumulated other comprehensive loss	(3,704)	(2,921)
Total Atlantic Tele-Network, Inc. stockholders' equity	680,299	677,222
Non-controlling interests	81,425	60,960
Total equity	761,724	738,182
Total liabilities and equity	$ 945,004	$ 925,030

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
CONSOLIDATED BALANCE SHEETS
Accounts receivable, allowances (in dollars)	$ 9,294	$ 11,344
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	50,000,000	50,000,000
Common stock, shares issued	16,828,576	16,647,334
Common stock, shares outstanding	16,067,736	15,925,748
Treasury stock, shares	760,840	721,586

CONSOLIDATED INCOME STATEMENTS - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
REVENUE:
Total revenue	$ 355,369	$ 336,347	$ 292,835
OPERATING EXPENSES (excluding depreciation and amortization unless otherwise indicated):
Termination and access fees	81,928	77,888	70,159
Engineering and operations	37,244	30,954	27,913
Sales and marketing	21,466	21,664	18,226
Equipment expense	14,997	13,338	13,013
General and administrative	59,890	52,734	49,066
Transaction-related charges	7,182	2,959	2,712
Depreciation and amortization	56,890	51,234	48,737
Gain on disposition of long-lived assets	(2,823)		(1,076)
Total operating expenses	276,774	250,771	228,750
Income from operations	78,595	85,576	64,085
OTHER INCOME (EXPENSE):
Interest income	588	788	852
Interest expense	(3,180)	(1,208)	(12,785)
Loss on interest rate derivative contracts			(5,408)
Loss on deconsolidation of subsidiary	(19,937)
Other income, net	135	1,012	(271)
Other income (expense), net	(22,394)	592	(17,612)
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES	56,201	86,168	46,473
Income taxes	24,137	28,148	9,536
INCOME FROM CONTINUING OPERATIONS	32,064	58,020	36,937
Gain on sale of discontinued operations, net of tax	1,092	1,102	307,102
Income from discontinued operations, net of tax	1,092	1,102	312,268
NET INCOME	33,156	59,122	349,205
Net loss attributable to non-controlling interests, net of tax:
Continuing operations	(16,216)	(10,970)	(7,989)
Discontinued operations			(601)
Disposal of discontinued operations			(28,899)
Net income attributable to non-controlling interests, net of tax	(16,216)	(10,970)	(37,489)
NET INCOME (LOSS) ATTRIBUTABLE TO ATLANTIC TELE-NETWORK, INC. STOCKHOLDERS	$ 16,940	$ 48,152	$ 311,716
NET INCOME PER WEIGHTED AVERAGE BASIC SHARE ATTRIBUTABLE TO ATLANTIC TELE-NETWORK, INC. STOCKHOLDERS:
Continuing operations (in dollars per share)	$ 0.99	$ 2.96	$ 1.84
Discontinued operations (in dollars per share)			0.29
Total (in dollars per share)	1.06	3.03	19.85
Discontinued operations:
Gain on sale of discontinued operations (in dollars per share)	0.07	0.07	17.72
Total discontinued operations (in dollars per share)	0.07	0.07	18.01
NET INCOME PER WEIGHTED AVERAGE DILUTED SHARE ATTRIBUTABLE TO ATLANTIC TELE-NETWORK, INC. STOCKHOLDERS:
Continuing operations (in dollars per share)	0.98	2.94	1.83
Discontinued operations (in dollars per share)			0.29
Total (in dollars per share)	1.05	3.01	19.71
Discontinued operations:
Gain on sale of discontinued operations (in dollars per share)	0.07	0.07	17.59
Total discontinued operations (in dollars per share)	$ 0.07	$ 0.07	$ 17.88
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING:
Basic (in shares)	16,022	15,898	15,704
Diluted (in shares)	16,142	16,013	15,817
DIVIDENDS PER SHARE APPLICABLE TO COMMON STOCK (in dollars per share)	$ 1.22	$ 1.12	$ 1.04
U.S. Wireless
REVENUE:
Total revenue	$ 155,390	$ 153,040	$ 107,930
International wireless
REVENUE:
Total revenue	81,652	88,650	91,432
Wireline
REVENUE:
Total revenue	86,485	85,284	84,585
Renewable energy
REVENUE:
Total revenue	21,040
Equipment and other
REVENUE:
Total revenue	$ 10,802	$ 9,373	$ 8,888

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
Net income (loss)	$ 33,156	$ 59,122	$ 349,205
Other comprehensive income:
Foreign currency translation adjustment	26	4	(259)
Projected pension benefit obligation, net of tax expense (benefit) of $0.2 million, $0.6 million and $0.7 million	(809)	(724)	(631)
Unrealized gain on interest rate swap, net of tax expense (benefit) of $(3.6) million			6,985
Other comprehensive income (loss), net of tax	(783)	(720)	6,095
Total comprehensive income	32,373	58,402	355,300
Less: Comprehensive income attributable to non-controlling interests	(16,216)	(10,970)	(37,489)
Comprehensive income attributable to Atlantic Tele-Network, Inc.	$ 16,157	$ 47,432	$ 317,811

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
Projected pension benefit obligation, tax expense (benefit)	$ 0.7	$ 0.6	$ 0.2
Unrealized gain on interest rate swap, tax expense (benefit)			$ (3.6)

CONSOLIDATED STATEMENTS OF EQUITY - USD ($) $ in Thousands	Atlantic Tele-Network, Inc.	Common Stock	Treasury Stock, at cost	Additional Paid In Capital	Retained Earnings	Accumulated Other Comprehensive Income/(Loss)	Non-Controlling Interests	Total
Equity, beginning of period at Dec. 31, 2012	$ 334,146	$ 160	$ (5,286)	$ 123,253	$ 224,316	$ (8,297)	$ 60,094	$ 394,240
Increase (Decrease) in Stockholders' Equity
Issuance of 43,034, 303,536 and 62,575 shares of common stock upon exercise of stock options for the years ended December 31, 2014, 2013 and 2012, respectively	9,302	4		9,298				9,302
Purchase of treasury stock	(8,103)		(8,103)					(8,103)
Stock-based compensation	4,454			4,454				4,454
Dividends declared on common stock	(16,381)				(16,381)		(27,832)	(44,213)
Excess tax benefits from share-based compensation	2,101			2,101				2,101
Non-controlling interest in equity acquired							407	407
Investments made by minority shareholders							(13,633)	(13,633)
Comprehensive income:
Net income	311,716				311,716		37,489	349,205
Other comprehensive income (loss), net of tax expense (benefit) of $641, $2,316, and $1,315 for the years ended December 31, 2014, 2013 and 2012, respectively	6,095					6,095		6,095
Total comprehensive income	317,811						37,489	355,300
Equity, end of period at Dec. 31, 2013	643,330	164	(13,389)	139,106	519,651	(2,202)	56,525	699,855
Increase (Decrease) in Stockholders' Equity
Issuance of 43,034, 303,536 and 62,575 shares of common stock upon exercise of stock options for the years ended December 31, 2014, 2013 and 2012, respectively	1,623	2		1,621				1,623
Purchase of treasury stock	(2,160)		(2,160)					(2,160)
Stock-based compensation	4,324			4,324				4,324
Dividends declared on common stock	(17,840)				(17,840)		(16,331)	(34,171)
Excess tax benefits from share-based compensation	513			512				513
Investments made by minority shareholders							9,796	9,796
Comprehensive income:
Net income	48,152				48,152		10,970	59,122
Other comprehensive income (loss), net of tax expense (benefit) of $641, $2,316, and $1,315 for the years ended December 31, 2014, 2013 and 2012, respectively	(720)					(719)		(720)
Total comprehensive income	47,432						10,970	58,402
Equity, end of period at Dec. 31, 2014	677,222	166	(15,549)	145,563	549,963	(2,921)	60,960	738,182
Increase (Decrease) in Stockholders' Equity
Issuance of 109,318, 100,902 and 72,083 restricted shares of common stock for the years ended December 31, 2014, 2013 and 2012, respectively	1	1						1
Issuance of 43,034, 303,536 and 62,575 shares of common stock upon exercise of stock options for the years ended December 31, 2014, 2013 and 2012, respectively	2,809	1		2,808				2,809
Purchase of treasury stock	(2,705)		(2,705)					(2,705)
Stock-based compensation	4,974			4,974				4,974
Dividends declared on common stock	(19,582)				(19,582)		(16,715)	(36,297)
Excess tax benefits from share-based compensation	1,423			1,423				1,423
Investments made by minority shareholders							951	951
Deconsolidation of subsidiary							20,013	20,013
Comprehensive income:
Net income	16,940				16,940		16,216	33,156
Other comprehensive income (loss), net of tax expense (benefit) of $641, $2,316, and $1,315 for the years ended December 31, 2014, 2013 and 2012, respectively	(783)					(783)		(783)
Total comprehensive income	16,157						16,216	32,373
Equity, end of period at Dec. 31, 2015	$ 680,299	$ 168	$ (18,254)	$ 154,768	$ 547,321	$ (3,704)	$ 81,425	$ 761,724

CONSOLIDATED STATEMENTS OF EQUITY (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
CONSOLIDATED STATEMENTS OF EQUITY
Issuance of restricted shares of common stock	93,864	109,318	100,902
Issuance of shares of common stock upon exercise of stock options	87,378	43,034	303,536
Purchase of shares of common stock	37,567	34,293	163,222
Other comprehensive income before reclassifications, tax	$ 717	$ 641	$ 2,316

CONSOLIDATED STATEMENTS OF CASH FLOWS $ in Thousands	12 Months Ended
CONSOLIDATED STATEMENTS OF CASH FLOWS $ in Thousands	Dec. 31, 2015 USD ($)	Dec. 31, 2014 USD ($)	Dec. 31, 2013 USD ($)
Cash flows from operating activities:
Net income	$ 33,156	$ 59,122	$ 349,205
Adjustments to reconcile net income to net cash flows provided by operating activities:
Depreciation and amortization	56,890	51,234	48,737
Provision for doubtful accounts	1,199	1,676	1,163
Amortization of debt discount and debt issuance costs	458	114	6,681
Stock-based compensation	4,975	4,323	4,454
Loss on interest rate derivative contracts			5,408
Deferred income taxes	17,869	(113)	(4,849)
Income from discontinued operations, net of tax			(5,166)
Gain on disposition of long-lived assets	(2,823)		(1,076)
Gain on sale of discontinued operations	(1,092)	(1,102)	(307,102)
Loss on deconsolidation of subsidiary	19,937
Changes in operating assets and liabilities, excluding the effects of acquisitions:
Accounts receivable, net	11,744	(15,264)	2,233
Materials and supplies, prepayments, and other current assets	(1,094)	(4,817)	(17,117)
Accounts payable and accrued liabilities, advance payments and deposits and other current liabilities	(2,385)	7,629	10,472
Accrued taxes	9,740	(15,650)	(242,696)
Other	(9,494)	(1,833)	4,006
Income tax receivable		(2,620)	14,251
Net cash provided by (used in) operating activities of continuing operations	139,080	82,699	(131,396)
Net cash provided by (used in) operating activities of discontinued operations	158	(4,719)	19,394
Net cash provided by (used in) operating activities	139,238	77,980	(112,002)
Cash flows from investing activities:
Capital expenditures	(64,753)	(58,300)	(69,316)
Acquisition of business	(11,968)	(50,361)
Restricted cash acquired from acquisition of businesses		(5,884)
Net proceeds from sale of assets		1,371
Change in restricted cash	38,877	38,707
Proceeds from disposition of long-lived assets	5,873		1,500
Net cash used in investing activities of continuing operations	(31,971)	(74,467)	(67,816)
Net cash used in investing activities of discontinued operations, net			710,934
Net cash provided by (used in) investing activities	(31,971)	(74,467)	643,118
Cash flows from financing activities:
Dividends paid on common stock	(19,070)	(17,488)	(12,096)
Distribution to minority stockholders	(16,514)	(16,331)	(26,155)
Payment of debt issuance costs	(892)	(1,945)	(12)
Proceeds from stock option exercises	1,998	1,129	2,669
Principal repayments of term loan	(6,017)		(272,137)
Purchase of common stock	(1,893)	(1,665)	(1,473)
Investments made by minority shareholders in consolidated affiliates	950	2,500	408
Repurchase of non-controlling interests		(104)
Net cash provided by financing activities of continuing operations	(41,438)	(33,904)	(308,796)
Net cash provided by financing activities of discontinued operations, net			(1,678)
Net cash used in financing activities	(41,438)	(33,904)	(310,474)
Effect of foreign currency exchange rates on cash and cash equivalents			(682)
Net change in cash and cash equivalents	65,829	(30,391)	219,960
Cash and cash equivalents, beginning of period	326,216	356,607	136,647
Cash and cash equivalents, end of period	392,045	326,216	356,607
Supplemental cash flow information:
Interest paid	2,724	2,930	4,857
Taxes paid	9,636	48,349	256,819
Dividends declared, not paid	$ 5,141	$ 4,618	$ 4,285

ORGANIZATION AND BUSINESS OPERATIONS

12 Months Ended

Dec. 31, 2015

ORGANIZATION AND BUSINESS OPERATIONS

ORGANIZATION AND BUSINESS OPERATIONS

1. ORGANIZATION AND BUSINESS OPERATIONS

The Company is a holding company that, through its operating subsidiaries, (i) provides wireless and wireline telecommunications services in North America, Bermuda and the Caribbean, (ii) owns and operates commercial distributed generation solar power systems in the United States, and (iii) owns and operates terrestrial and submarine fiber optic transport systems in the United States and the Caribbean, respectively.

The Company offers the following principal services:

Wireless. In the United States, the Company offers wholesale wireless voice and data roaming services to national, regional, local and selected international wireless carriers in rural markets located principally in the Southwest and Midwest United States. The Company also offers wireless voice and data services to retail customers in Bermuda, Guyana, and in other smaller markets in the Caribbean and the United States.

Wireline. The Company’s local telephone and data services include its operations in Guyana and the mainland United States. The Company is the exclusive licensed provider of domestic wireline local and long‑distance telephone services in Guyana and international voice and data communications into and out of Guyana. The Company also offers facilities‑based integrated voice and data communications services and wholesale transport services to enterprise and residential customers in New England, primarily Vermont, and in New York State. In addition, the Company offers wholesale long‑ distance voice services to telecommunications carriers.

Renewable Energy. In the United States, the Company provides distributed generation solar power to corporate, utility and municipal customers in Massachusetts, California and New Jersey.

The following chart summarizes the operating activities of the Company’s principal subsidiaries, the segments in which it reports its revenue and the markets it served as of December 31, 2015:


Services	Segment	Markets	Tradenames
Wireless	U.S. Wireless	United States (rural markets)	Commnet, Choice
	Island Wireless	Aruba, Bermuda, U.S. Virgin Islands	Mio, CellOne, Islandcom (through March 23, 2015), Choice
	International Integrated Telephony	Guyana	Cellink
Wireline	International Integrated Telephony	Guyana	GT&T
	U.S. Wireline	United States (New England and New York State)	Sovernet, ION, Essextel
Renewable Energy	Renewable Energy	United States (Massachusetts, California, and New Jersey)	Ahana Renewables

The Company is actively evaluating potential acquisitions, investment opportunities and other strategic transactions, both domestic and international, that meet its return on investment and other criteria. The Company provides management, technical, financial, regulatory, and marketing services to its subsidiaries and typically receives a management fee equal to a percentage of their respective revenue. Management fees from subsidiaries are eliminated in consolidation. For information about the Company’s business segments and geographical information about its revenue, operating income and long‑lived assets, see Note 17 to the Consolidated Financial Statements.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

12 Months Ended

Dec. 31, 2015

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation

The consolidated financial statements include the accounts of the Company, its majority‑owned subsidiaries and certain entities, which are consolidated in accordance with the provisions of the Financial Accounting Standards Board (“FASB”) authoritative guidance on the consolidation of variable interest entities since it is determined that the Company is the primary beneficiary of these entities.

Certain reclassifications have been made in the prior period financial statements to conform the Company’s consolidated income statements to how management analyzes its operations in the current period. These changes did not impact operating income. For the year ended December 31, 2013 the aggregate impact of the changes included an increase to termination and access fees of $14.4 million, a decrease to engineering and operations expenses of $11.0 million, an increase to sales and marketing expenses of $0.5 million, an increase to equipment expense of $0.1 million, and a decrease to general and administrative expenses of $4.0 million. For the year ended December 31, 2014 the aggregate impact of the changes included an increase to termination and access fees of $13.7 million, a decrease to engineering and operations expenses of $9.3 million, an increase to sales and marketing expenses of $0.7 million and a decrease to general and administrative expenses of $5.1 million.

On September 20, 2013, the Federal Communications Commission announced its approval of the previously announced proposed sale of the Company’s U.S. retail wireless business operated under the Alltel name to AT&T for approximately $780.0 million in cash plus $16.8 million in working capital. The Company previously reported the operations of this business within its U.S. Wireless segment. As a result of that approval, the Company completed the sale of certain U.S. retail wireless assets on that date and recorded a gain of approximately $307.1 million during the year ended December 31, 2013. During the years ended December 31, 2014 and 2015, the Company recorded additional gains of $1.1 million relating to changes in certain estimates.

The operations of the Alltel business, which were previously included in the Company’s U.S. Wireless segment, have been classified as discontinued operations in all periods presented. The gain on the sale of the Alltel business is also included in discontinued operations. See Note 4 for additional information. Unless indicated otherwise, the information in the Notes to the Consolidated Financial Statements relates only to our continuing operations.

Use of Estimates

The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the dates of the financial statements and the reported amounts of revenue and expenses during the reporting periods. The most significant estimates relate to the allowance for doubtful accounts, useful lives of the Company’s fixed and finite‑lived intangible assets, allocation of purchase price to assets acquired and liabilities assumed in purchase business combinations, fair value of indefinite‑lived intangible assets, goodwill, the gain on sale of discontinued operations and income taxes. Actual results could differ significantly from those estimates.

Cash and Cash Equivalents

The Company considers all investments with an original maturity of three months or less at date of purchase to be cash equivalents. The Company places its cash and temporary investments with banks and other institutions that it believes have a high credit quality. At December 31, 2015, the Company had deposits with banks in excess of FDIC insured limits and $50.7 million of its cash is on deposit with non‑insured institutions such as corporate money market issuers and cash held in foreign banks. The Company’s cash and cash equivalents are not subject to any restrictions (see Note 9). As of December 31, 2014 and 2015, the Company held $1.8 million and $3.8 million, respectively, of its cash in Guyana dollars. While there are risks associated with the conversion of Guyana dollars to U.S. dollars due to limited liquidity in the Guyana foreign currency markets, to date it has not prevented the Company from converting Guyana dollars into U.S. dollars within a given three month period or from converting at a price that reasonably approximates the reported exchange rate.

Restricted Cash

Substantially all of the Company’s restricted cash balances were acquired as a part of the acquisition of Ahana Renewables as described in Note 3. The restricted cash is held in escrow and serves as collateral for Ahana Renewables’ debt in order to meet future debt service obligations and other operating obligations of the solar facilities.

Allowance for Doubtful Accounts

The Company maintains an allowance for doubtful accounts for the estimated probable losses on uncollectible accounts receivable. The allowance is based upon a number of factors including the credit worthiness of customers, the Company’s historical experience with customers, the age of the receivable and current market and economic conditions. Such factors are reviewed and updated by the Company on a quarterly basis. Uncollectible amounts are charged against the allowance account.

Materials and Supplies

Materials and supplies primarily include handsets, customer premise equipment, cables and poles and are recorded at the lower of cost or market cost being determined on the basis of specific identification and market determined using replacement cost.

Fixed Assets

The Company’s fixed assets are recorded at cost and depreciated using the straight‑line method generally between 3 and 39 years. Expenditures for major renewals and betterments that extend the useful lives of fixed assets are capitalized. Repairs and replacements of minor items of property are charged to maintenance expense as incurred. The cost of fixed assets in service and under construction includes an allocation of indirect costs applicable to construction. Grants received for the construction of assets are recognized as a reduction of the cost of fixed assets, a reduction of depreciation expense over the useful lives of the assets and as a reduction of capital expenditures in the statements of cash flows.

The fair value of a liability for an asset retirement obligation is recorded in the period in which it is incurred if a reasonable estimate of fair value can be made. In periods subsequent to initial measurement, period‑to‑period changes in the liability for an asset retirement obligation resulting from the passage of time and revisions to either the timing or the amount of the original estimate of undiscounted cash flows are recognized. The increase in the carrying value of the associated long‑lived asset is depreciated over the corresponding estimated economic life. The consolidated balance sheets include accruals of $2.7 million and $3.0 million as of December 31, 2014 and 2015, respectively, for estimated costs associated with asset retirement obligations.

In accordance with the authoritative guidance for the accounting for the impairment or disposal of long‑lived assets, the Company evaluates the carrying value of long‑lived assets, including property and equipment, in relation to the operating performance and future undiscounted cash flows of the underlying business whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. An impairment loss exists when estimated undiscounted cash flows attributable to an asset are less than its carrying amount. If an asset is deemed to be impaired, the amount of the impairment loss recognized represents the excess of the asset’s carrying value as compared to its estimated fair value, based on management’s assumptions and projections.

Management’s estimate of the future cash flows attributable to its long‑lived assets and the fair value of its businesses involve significant uncertainty. Those estimates are based on management’s assumptions of future results, growth trends and industry conditions. If those estimates are not met, the Company could have additional impairment charges in the future, and the amounts may be material.

The Company determined that there was no impairment of its fixed assets in any of the three years ended December 31, 2015.

Goodwill and Indefinite‑Lived Intangible Assets

Goodwill is the amount by which the cost of acquired net assets exceeded the fair value of those net assets on the date of acquisition. The Company allocates goodwill to reporting units at the time of acquisition and bases that allocation on which reporting units will benefit from the acquired assets and liabilities. Reporting units are defined as operating segments or one level below an operating segment, referred to as a component. The Company has determined that its reporting units are components of its multiple operating segments. The Company assesses goodwill for impairment on an annual basis in the fourth quarter or more frequently when events and circumstances occur indicating that the recorded goodwill may be impaired. If the book value of a reporting unit exceeds its fair value, the implied fair value of goodwill is compared with the carrying amount of goodwill. If the carrying amount of goodwill exceeds the implied fair value, an impairment loss is recorded equal to that excess.

A significant majority of the Company’s telecommunications licenses are not amortized and are carried at their historical costs. The Company believes that telecommunications licenses generally have an indefinite life based on the historical ability to renew such licenses, that such renewals may be obtained indefinitely and at little cost, and that the related technology used is not expected to be replaced in the foreseeable future. The Company has elected to perform its annual testing of its telecommunications licenses in the fourth quarter of each fiscal year, or more often if events or circumstances indicate that there may be impairment. If the value of these assets were impaired by some factor, such as an adverse change in the subsidiary’s operating market, the Company may be required to record an impairment charge. The impairment test consists of a comparison of the fair value of telecommunications licenses with their carrying amount on a license by license basis and as a part of the test the Company assesses the appropriateness of the application of the indefinite‑lived assertion.

As of December 31, 2014 and 2015, the Company performed its annual impairment assessment of its goodwill and indefinite‑lived intangible assets (telecommunications licenses) and determined that no impairment charge was required. See Note 8 for further details.

Intangible Assets

Intangible assets resulting from the acquisitions of entities accounted for using the purchase method of accounting are estimated by management based on the fair value of assets acquired. These include acquired customer relationships and trade names.

Customer relationships are amortized over their estimated lives of 12 years, which are based on the pattern in which economic benefit of the customer relationship is estimated to be realized.

Interest Rate Derivatives

As required by the authoritative guidance on accounting for derivative instruments and hedging activities, the Company recorded all derivatives on the balance sheet at fair value. The accounting for changes in the fair value of derivatives depends on the intended use of the derivative, whether the Company has elected to designate a derivative in a hedging relationship and apply hedge accounting and whether the hedging relationship has satisfied the criteria necessary to apply hedge accounting. Derivatives designated and qualifying as a hedge of the exposure to changes in the fair value of an asset, liability, or firm commitment attributable to a particular risk, such as interest rate risk, are considered fair value hedges. The Company may enter into derivative contracts that are intended to economically hedge certain of its risk, even though hedge accounting does not apply or the Company elects not to apply hedge accounting.

Risk Management Objective of Using Derivatives

The Company is exposed to certain risks arising from both its business operations and economic conditions. The Company principally manages its exposures to a wide variety of business and operational risks through management of its core business activities. The Company managed economic risks related to interest rates primarily by managing the amount, sources, and duration of its debt funding and the use of derivative financial instruments. Specifically, the Company entered into derivative financial instruments to manage exposures that arose from business activities that resulted in the payment of future known and uncertain cash amounts, the value of which were determined by interest rates. The Company’s derivative financial instruments were used to manage differences in the amount, timing, and duration of its known or expected cash payments principally related to the Company’s borrowings. As a result of the repayment of its variable rate debt on September 20, 2013, the Company terminated its derivative financial instruments during 2013. See Note 9 for further details.

Debt

Debt is measured at amortized cost. Debt discounts, representing the difference between the proceeds and the principal amount of debt, are amortized as interest expense in the consolidated income statements over the period of the debt on a straight‑line basis, which approximates the effective interest method. Debt issuance costs are capitalized as part of other assets in the consolidated balance sheet and are amortized as interest expense in the consolidated income statements over the period of the debt on a straight‑line basis, which approximates the effective interest method. Except for interest costs incurred for the construction of a qualifying asset which are capitalized during the period the assets are prepared for their intended use, interest costs are expensed.

Non‑Controlling Interests

The non‑controlling interests in the accompanying consolidated balance sheets reflect the original investments by the minority stockholders in GT&T, Commnet’s consolidated subsidiaries, Bermuda Digital Communications, Islandcom, Sovernet and its consolidated subsidiaries and Ahana Renewables, along with their proportional share of the earnings or losses, net of any distributions.

Changes in Accumulated Other Comprehensive Income (Loss)

Changes in accumulated other comprehensive income (loss), by component, were as follows (in thousands):


	Projected
	Pension
	Benefit		Translation
	Obligation		Adjustment		Total

Balance at December 31, 2013	$	(1,949)	$	(253)	$	(2,202)
Adjust funded status of pension plan, net of tax of $0.6 million		(723)		—		(723)
Foreign currency translation adjustment		—		4		4
Balance at December 31, 2014		(2,672)		(249)		(2,921)
Adjust funded status of pension plan, net of tax of $0.7 million		(809)		—		(809)
Foreign currency translation adjustment		—		26		26
Balance at December 31, 2015	$	(3,481)	$	(223)	$	(3,704)

Revenue Recognition- Telecommunications

Service revenues are primarily derived from providing access to and usage of the Company’s networks and facilities. Access revenues from postpaid customers are generally billed one month in advance and are recognized over the period that the corresponding service is rendered to customers. Revenues derived from usage of the Company’s networks, including airtime, roaming, long‑distance and Universal Service Fund revenues, are recognized when the services are provided and are included in unbilled revenues until billed to the customer. Prepaid airtime sold to customers is recorded as deferred revenue prior to the commencement of services and is recognized when the airtime is used or expires. The Company offers enhanced services including caller identification, call waiting, call forwarding, three‑way calling, voice mail, and text and picture messaging, as well as downloadable wireless data applications, including ringtones, music, games, and other informational content. Generally, these enhanced features generate additional service revenues through monthly subscription fees or increased usage through utilization of the features. Other optional services such as equipment protection plans may also be provided for a monthly fee and are either sold separately or bundled and included in packaged rate plans. Revenues from enhanced features and optional services are recognized when earned. Access and usage‑based services are billed throughout the month based on the bill cycle assigned to a particular customer. As a result of billing cycle cut‑off times, management must estimate service revenues earned but not yet billed at the end of each reporting period.

Sales of communications products including wireless handsets and accessories represent a separate earnings process and are recognized when the products are delivered to and accepted by customers. The Company accounts for transactions involving both the activation of service and the sale of equipment in accordance with the authoritative guidance for the accounting for revenue arrangements with multiple deliverables. Fees assessed to communications customers to activate service are not a separate unit of accounting and are allocated to the delivered item (equipment) and recognized as product sales to the extent that the aggregate proceeds received from the customer for the equipment and activation fee do not exceed the relative fair value of the equipment.

Wholesale revenues are those revenues generated from providing voice or data services to the customers of other wireless carriers principally through “roaming” agreements, and the revenue is recognized over the period that the service is rendered to customers.

Sales and use and state excise taxes collected from customers that are remitted to the governmental authorities are reported on a net basis and excluded from the revenues and sales.

Revenue Recognition-Renewable Energy

Revenue from the Company’s Renewable Energy segment is generated from the sale of electricity through long-term power purchase agreements (“PPA’s”) with various customers, or hosts, that range from 10 to 25 years. The Company, which is required to sell all generated power to the hosts, recognizes revenue from the PPA’s as electricity is generated and sold at contractual rates as defined within the respective PPA.

The Company’s Renewable Energy segment also generates revenue from the sale of Solar Renewable Energy Credits (“SRECs”). Revenue is recognized as SRECs are sold through long-term purchase agreeements at the contractual rate specified in the agreement.

Accounting for Grants

The Company has received funding from the U.S. Government and its agencies under Stimulus and Universal Service Fund programs. These funding programs are generally designed to fund telecommunications infrastructure expansion into rural or underserved areas of the United States. The funding programs are evaluated to determine if they represent funding related to capital expenditures (capital grants) or operating activities (income grants).

Funding received from Stimulus programs is on a cost‑reimbursement basis for capital expenditures incurred by the Company to expand its network and is considered a capital grant. Accordingly, reimbursements for eligible expenditures under the Stimulus programs are recorded as a reduction to property, plant and equipment on the Company’s consolidated balance sheets, an investing cash inflow and a future reduction in depreciation expense in the consolidated income statements. The depreciable period for the grant is commensurate with the related assets which typically range from 5 to 20 years. As of December 31, 2015, the Company has spent $99.3 million in capital expenditures of which $73.9 million has been or will be funded by the Stimulus programs. Accordingly, funding received for capital expenditures from the Stimulus Programs is recorded as a reduction to property, plant and equipment on the Company’s consolidated balance sheets, an investing cash inflow within capital expenditures and a future reduction in depreciation expense in the consolidated income statements. Funding received for operating costs is recorded as a reduction to the Company’s operating expenses in its consolidated statements of income and an operating cash inflow.

Funding received from Universal Service Fund programs is received over time for operating the Company’s network in certain rural geographical areas and is considered an income grant. Accordingly, such funding is recognized as operating cash inflows. Once services are provided, revenue is recognized in the Company’s consolidated income statements. During the year ended December 31, 2014 and December 31, 2015 the Company received approximately $3.9 million and $7.9 million, respectively, from the Universal Service Fund programs. Of these amounts, $1.3 million for the years ended December 31, 2014 and December 31, 2015 were to support our U.S. Wireless business relating to high‑cost areas.

Funding received from the Mobility Fund, as further described in Note 11, is for the use of both capital expenditures and operating costs incurred by the Company. Accordingly, funding received for capital expenditures from the Mobility Fund is recorded as a reduction to property, plant and equipment on the Company’s consolidated balance sheets, an investing cash inflow within capital expenditures and a future reduction in depreciation expense in the consolidated income statements. Funding received for operating costs is recorded as a reduction to the Company’s operating expenses in its consolidated income statements and an operating cash inflow.

Compliance with grant requirements is reviewed as of December 31, of each year to ensure that conditions related to grants have been met and there is reasonable assurance that the Company will be able to retain the grant proceeds and to ensure that any contingencies that may arise from not meeting the conditions are appropriately recognized.

Income Taxes

The Company accounts for income taxes under the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements. Under this method, deferred tax assets and liabilities are determined on the basis of the differences between the financial statement and tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period that includes the enactment date.

The Company recognizes deferred tax assets to the extent that the Company believes these assets are more likely than not to be realized. In making such a determination, the Company considers all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, tax‑planning strategies, and results of recent operations. If the Company determines that it would be able to realize our deferred tax assets in the future in excess of their net recorded amount, the Company would make an adjustment to the deferred tax asset valuation allowance, which would reduce the provision for income taxes.

The Company records uncertain tax positions in accordance with ASC 740 on the basis of a two-step process whereby (1) the Company determines whether it is more likely than not that the tax positions will be sustained on the basis of the technical merits of the position and (2) for those tax positions that meet the more‑likely‑than-not recognition threshold, the Company recognizes the largest amount of tax benefit that is more than 50 percent likely to be realized upon ultimate settlement with the related authority. It is possible that the ultimate resolution of these uncertain matters may be greater or less than the amount that the Company estimated. If payment of these amounts proves to be unnecessary, the reversal of the liabilities would result in tax benefits being recognized in the period in which it is determined that the liabilities are no longer necessary. If the estimate of tax liabilities proves to be more than the ultimate assessment, a further charge to expense would result.

The Company recognizes interest and penalties related to unrecognized tax benefits within the income tax expense line in the accompanying consolidated statements of operations. Accrued interest and penalties are included within the related tax liability line in the consolidated balance sheets.

The Company does not provide for United States income taxes on earnings of foreign subsidiaries as such earnings are considered to be indefinitely reinvested.

As of December 31, 2014, the Company had deferred taxes that were classified as current and noncurrent assets and liabilities. The Company elected to prospectively adopt ASU 2015-17 as of December 31, 2015, thus reclassifying $3.9 million of current deferred tax assets and $0.2 million of current deferred tax liabilities to noncurrent on the accompanying consolidated December 31, 2015 balance sheet. The prior reporting period was not retrospectively adjusted. The adoption of this guidance had no impact on the Company’s consolidated results of income and comprehensive income.

Credit Concentrations and Significant Customers

The Company has been historically dependent on a limited amount of customers for its wholesale roaming business. The following table indicates the percentage of revenues generated from a single customer that exceeds 10% of the Company’s consolidated revenue in any of the past three years:


Customer	2013		2014		2015
Verizon	13	%	16	%	19	%
AT&T	18	%	26	%	17	%

No other customer accounted for more than 10% of consolidated revenue in any of the past three years.

The following table indicates the percentage of accounts receivable, from customers that exceed 10% of the Company’s consolidated accounts receivable, net of allowances, as of December 31, 2014 and 2015:


Customer	2014		2015
AT&T	47	%	17	%
Verizon	7	%	13	%

Foreign Currency Gains and Losses

With regard to the Company’s Guyana operations, for which the Guyana dollar is the functional currency, foreign currency transaction gains and losses are included in determining net income. At each balance sheet date, balances denominated in foreign currencies are adjusted to reflect the current exchange rate. Beginning in 2013, the value of the Guyana Dollar increased from approximately G$205 to one U.S. Dollar to approximately G$210 to one U.S. Dollar. Accordingly, the Company recognized a nominal foreign currency loss during the year ended December 31, 2013 and $1.1 million gain on foreign currency exchanges during the year ended December 31, 2014. As of December 31, 2015 the exchange rate remained at G$210 to one U.S. Dollar.

Fair Value of Financial Instruments

In accordance with the provisions of fair value accounting, a fair value measurement assumes that a transaction to sell an asset or transfer a liability occurs in the principal market for the asset or liability or, in the absence of a principal market, the most advantageous market for the asset or liability and defines fair value based upon an exit price model.

The fair value measurement guidance establishes a fair value hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The guidance describes three levels of inputs that may be used to measure fair value:


Level 1	Quoted prices in active markets for identical assets or liabilities as of the reporting date. Active markets are those in which transactions for the asset and liability occur in sufficient frequency and volume to provide pricing information on an ongoing basis. Level 1 assets and liabilities include money market funds, debt and equity securities and derivative contracts that are traded in an active exchange market.
Level 2	Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 2 assets and liabilities include debt securities with quoted prices that are traded less frequently than exchange‑traded instruments and derivative contracts whose value is determined using a pricing model with inputs that are observable in the market or can be derived principally from or corroborated by observable market data. This category generally includes corporate obligations and non‑exchange traded derivative contracts.
Level 3	Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. Level 3 assets and liabilities include financial instruments and intangible assets that have been impaired whose value is determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which the determination of fair value requires significant management judgment or estimation.

Assets and liabilities of the Company measured at fair value on a recurring basis as of December 31, 2014 and 2015 are summarized as follows:


	December 31, 2014
			Significant Other
	Quoted Prices in		Observable
	Active Markets		Inputs
Description	(Level 1)		(Level 2)		Total
Certificates of deposit	$	—	$	363	$	363
Money market funds	$	1,493	$	—	$	1,493
Total assets measured at fair value	$	1,493	$	363	$	1,856


	December 31, 2015
			Significant Other
	Quoted Prices in		Observable
	Active Markets		Inputs
Description	(Level 1)		(Level 2)		Total
Certificates of deposit	$	—	$	377	$	377
Money market funds	$	76,263	$	—	$	76,263
Total assets measured at fair value	$	76,263	$	377	$	76,640

Certificate of Deposit

As of December 31, 2014 and December 31, 2015, this asset class consisted of a time deposit at a financial institution denominated in U.S. dollars. The asset class is classified within Level 2 of the fair value hierarchy because the fair value was based on observable market data.

Money Market Funds

As of December 31, 2014 and December 31, 2015, this asset class consisted of a money market portfolio that comprises Federal government and U.S. Treasury securities. The asset class is classified within Level 1 of the fair value hierarchy because its underlying investments are valued using quoted market prices in active markets for identical assets

Derivatives

The Company is exposed to certain risks arising from both its business operations and economic conditions. When deemed appropriate, the Company manages economic risks related to interest rates primarily by managing the amount, sources, and duration of its debt funding and the use of derivative financial instruments. Specifically, the Company entered into derivative financial instruments to manage exposures that arose from business activities that resulted in the payment of future known and uncertain cash amounts, the value of which were determined by interest rates. The Company’s derivative financial instruments were used to manage differences in the amount, timing, and duration of its known or expected cash payments principally related to the Company’s borrowings. The principal market in which the Company executes its foreign currency contracts is the institutional market in an over‑the‑counter environment with a relatively high level of price transparency. The market participants usually are large commercial banks.

As a result of the repayment of its variable rate debt on September 20, 2013, the Company terminated its interest rate derivatives.

Other Fair Value Disclosures

The carrying amounts of cash and cash equivalents, accounts receivable, and accounts payable and accrued expenses approximate their fair values because of the relatively short-term maturities of these financial instruments.

The fair value of long-term debt is estimated using Level 2 inputs. At December 31, 2015, the fair value of long-term debt, including the current portion, was equal to its carrying amount of $32,860. At December 31, 2014, the fair value of the long-term debt, including the current portion, was equal to its carrying amount of $38,877.

Net Income Per Share

Basic net income per share is computed by dividing net income attributable to the Company’s stockholders by the weighted‑average number of common shares outstanding during the period and does not include any other potentially dilutive securities. Diluted net income per share gives effect to all potentially dilutive securities using the treasury stock method.

The reconciliation from basic to diluted weighted average common shares outstanding is as follows (in thousands):


	Year ended December 31,
	2013	2014	2015
Basic weighted-average common shares outstanding	15,704	15,898	16,022
Stock options	113	115	120
Diluted weighted-average common shares outstanding	15,817	16,013	16,142

The following notes the number of potential common shares not included in the above calculation because the effects of such were anti‑dilutive (in thousands of shares):


	For the Year Ended
	December 31,
	2013	2014	2015
Stock options	61	—	2
Total	61	—	2

Stock‑Based Compensation

The Company applies the fair value recognition provisions of the authoritative guidance for the accounting for stock‑based compensation and is expensing the fair value of the grants of options to purchase common stock over their vesting period of four years. Relating to grants of options, the Company recognized $1.4 million, $0.9 million and $0.4 million of non‑cash, share‑based compensation expense during 2013, 2014 and 2015, respectively. See Note 12 for assumptions used to calculate the fair value of the options granted.

The Company also issued 100,902 restricted shares of common stock in 2013; 109,318 restricted shares of common stock in 2014 and 93,864 restricted shares of common stock in 2015. These shares are being charged to income based upon their fair values over their vesting period of four years. Non‑cash equity‑based compensation expense, related to the vesting of restricted shares issued was $3.1 million, $3.4 million and $4.3 million in 2013, 2014 and 2015, respectively.

In connection with the Ahana Acquisition, the Company issued shares of Ahana Renewables to Ahana Renewables' management and recorded $0.3 million of stock based compensation during 2015.

Stock‑based compensation expense is recognized within general and administrative expenses within the consolidated income statements.

Recent Accounting Pronouncements

In April 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-08, “Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity.” ASU 2014- 08 provides guidance on determining when disposals can be presented as discontinued operations. ASU 2014- 08 requires that only disposals representing a strategic shift in operations should be presented as discontinued operations. A strategic shift may include a disposal of a major line of business, major equity method investment or a major part of an entity. Additionally, ASU 2014- 08 requires expanded disclosures regarding discontinued operations. This standard was effective prospectively for reporting periods beginning after December 15, 2014. See note 5 for a discussion of the Company’s sale of certain assets and liabilities of its Turks and Caicos business.

In May 2014, the FASB issued ASU 2014-09, “Revenue from Contracts with Customers”, which provides a single, comprehensive revenue recognition model for all contracts with customers. The revenue standard is based on the principle that revenue should be recognized to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The standard may be applied retrospectively to each prior period presented or retrospectively with the cumulative effect recognized as of the date of initial application. On July 9, 2015, the FASB approved the deferral of the new standard's effective date by one year. The new standard is now effective for annual reporting periods beginning after December 15, 2017. The FASB will permit companies to adopt the new standard early, but not before the original effective date of annual reporting periods beginning after December 15, 2016. The Company is currently evaluating the adoption method options and the impact of the new guidance on our consolidated financial statements.

In April 2015, the FASB issued ASU 2015-03, “Simplifying the Presentation of Debt Issuance Costs”, which amends the presentation of debt issuance costs on the consolidated balance sheet. Under the new guidance, debt issuance costs are presented as a direct deduction from the carrying amount of the debt liability rather than as an asset. The new guidance is effective retrospectively for fiscal periods starting after December 15, 2015 and early adoption is permitted. The Company expect to adopt ASU 2015-03 on January 1, 2016 and have determined that its adoption will not have a material impact on its consolidated financial statements and related disclosures at that time.

In April 2015, the FASB issued ASU 2015-05, “Customer’s Accounting for Fees Paid in a Cloud Computing Arrangement”, which provides guidance about whether a cloud computing arrangement includes software and how to account for that software license. The new guidance does not change the accounting for a customer’s accounting for service contracts. The standard is effective beginning January 1, 2017, with early adoption permitted, and may be applied prospectively or retrospectively. The Company does not expect ASU 2015-05 to have a material impact on its consolidated financial position, results of operations or cash flows.

In September 2015, the FASB issued ASU 2015-16, “Simplifying the Accounting for Measurement-Period Adjustments”, which provides updated guidance related to simplifying the accounting for measurement period adjustments related to business combinations. The amended guidance eliminates the requirement to retrospectively account for adjustments made during the measurement period. The standard is effective beginning January 1, 2016, with early adoption permitted. We do not expect ASU 2015-16 to have a material impact on our consolidated financial position, results of operations or cash flows.

In February 2016, the FASB issued ASU 2016-2, “Leases (Topic 842)”, which provides comprehensive lease accounting guidance. The standard requires entities to recognize lease assets and liabilities on the balance sheet as well as disclosure of key information about leasing arrangements. ASU 2016-2 will become effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018, with early adoption permitted. The Company is currently evaluating the impact of the new guidance on our consolidated financial statements.

ACQUISITIONS

12 Months Ended

Dec. 31, 2015

ACQUISITIONS

ACQUISITIONS

3. ACQUISITIONS

Pending Acquisitions

Caribbean Asset Holdings LLC

On September 30, 2015, the Company entered into an agreement to acquire all of the membership interests of Caribbean Asset Holdings LLC, the holding company for the Innovative group of companies operating cable TV, Internet and landline services primarily in the U.S. Virgin Islands (“Innovative”), from the National Rural Utilities Cooperative Finance Corporation (“CFC”). The Company will purchase the Innovative operations for a purchase price of approximately $145 million, subject to certain purchase price adjustments (the “Innovative Transaction”). In connection with the purchase, we have the option to finance up to $60 million of the purchase price with a loan from an affiliate of CFC, the Rural Telephone Finance Cooperative (“RTFC”) on the terms and conditions set forth in a commitment letter and rate lock option letter executed by RTFC filed herewith as Exhibits 99.1 and 99.2, respectively. We expect to fund the remaining $85.0 million of the purchase price, plus any amounts not financed, in cash. With the purchase, the Company’s current operations in the U.S. Virgin Islands under the “Choice” name will be combined with Innovative to deliver residential and business subscribers a full range of telecommunications and media services.

The Innovative Transaction is subject to customary closing terms and conditions and the receipt of approvals from the Federal Communications Commission and regulatory authorities in the U.S. and British Virgin Islands and St. Maarten. The Company currently expects to complete the proposed transaction in mid-2016.

KeyTech Limited

On October 5, 2015, the Company entered into an agreement with KeyTech Limited (“KeyTech”), a publicly held Bermuda company listed on the Bermuda Stock Exchange (“BSX”) that provides broadband and cable television services and other telecommunications services to residential and enterprise customers under the “Logic” name in Bermuda and the Cayman Islands, in which the Company will acquire a controlling interest in KeyTech as part of a proposed business combination of KeyTech with the Company’s subsidiary providing wireless services under the “CellOne” name in Bermuda. As part of the proposed transaction, the Company will contribute its current ownership interest of approximately 43% in CellOne and approximately $42 million in cash in exchange for a 51% ownership interest in KeyTech. On a combined basis, the Company and KeyTech currently own approximately 85% of CellOne. As part of the proposed transaction, CellOne will be merged with and into a company within the KeyTech group and the approximate 15% interest in CellOne held, in the aggregate, by CellOne’s minority shareholders will be converted into the right to receive common shares in KeyTech. Following the transaction, CellOne

will be indirectly wholly owned by KeyTech and KeyTech will continue to be listed on the BSX. A portion of the cash proceeds that KeyTech will receive upon closing will be used to fund a one-time special dividend to KeyTech's existing shareholders and to retire KeyTech's subordinated debt. The Company currently consolidates the operations of CellOne and, upon closing of the proposed transaction, will consolidate the results of KeyTech, in its financial statements.

The proposed transaction is subject to customary closing terms and conditions, including, among others, the receipt of approval from the Bermuda Regulatory Authority, the Federal Communications Commission, and the Information and Communications Technology Authority of the Cayman Islands and the consent of the Bermuda Stock Exchange to certain transaction matters. KeyTech shareholders approved the proposed transaction by affirmative vote on October 20, 2015. The Company is working towards completing the proposed transaction by the end of the first quarter 2016.

Completed Acquisition

On December 24, 2014, the Company acquired substantially all of the assets of Green Lake Capital, LLC and certain of its affiliates (collectively, "Green Lake"), an owner and operator of commercial distributed generation solar power systems in Massachusetts, California and New Jersey (the "Ahana Acquisition"). The Company acquired these assets as part of a total transaction valued at approximately $117.7 million which is comprised of approximately $66.3 million of cash consideration a $12.5 million reimbursement of cash and restricted cash held by Green Lake on the date of acquisition and the assumption of $38.9 million of debt. The acquisition was performed through the Company's newly formed subsidiary, Ahana Renewables, LLC ("Ahana Renewables"). Certain subsidiaries of Ahana Renewables have been partially capitalized by a third-party tax equity investor who maintains a non-controlling interest in these subsidiaries. The tax equity investor’s interest in these subsidiaries changes at a certain date (the "Flip Date"), which is the later of a) the five-year anniversary of the placed in service date for the solar assets owned by the subsidiary or, b) the date that the tax equity investor receives a certain return on their original investment in that subsidiary. These dates typically occur at approximately 2 - 4 years from the Ahana Acquisition date. The profits and losses of these subsidiaries will be allocated to the tax equity investors and to the Company using the Hypothetical Liquidation Book Value method. The Hypothetical Liquidation Book Value Method is used to calculate the non-controlling interests' share of income for each period by measuring the difference in funds that would flow to the non-controlling interests in a hypothetical liquidation event at the beginning of the period compared to the end of a period (adjusted for capital distributions). The method assumes that the proceeds on liquidation approximate book value and then the proceeds are allocated to the Company and non-controlling interests based on the liquidation provisions of the solar facility operating agreement. A positive difference during the period represents non-controlling interests' share of income and a decrease represents a loss. Ahana Renewables has the option to buy-out the non-controlling interests.

The Ahana Acquisition was accounted for using the purchase method, and Ahana Renewables' results of operations since December 24, 2014 have been included in the Company's new Renewable Energy segment as reported in Note 17. The total purchase consideration of $78.8 million cash was allocated to the assets acquired and liabilities assumed at their estimated fair values as of the date of acquisition as determined by management. The table below represents the preliminary assessment of the total acquisition cost to the net assets of Ahana Renewables based on their acquisition date fair values:


Total consideration	$	78,782
Purchase price allocation:
Cash	$	6,571
Other current assets		2,011
Property, plant and equipment		111,446
Restricted cash		5,884
Current liabilities		(853)
Long-Term debt		(38,877)
Non-controlling interests		(7,400)
Net assets acquired	$	78,782

The non-controlling interests were valued using an income approach which included the estimated cash flows to the non-controlling interests in the form of distributions and buy-outs. The cash flows were tax affected using a weighted average tax rate of 40% and were discounted at a rate of 11.75% to determine their acquisition date fair value.

The acquired property, plant and equipment is comprised of the commercial distributed solar power systems and was valued using an income approach. The assets were assigned an economic life of 25 years, and expected income from the assets was based forecasted production and the related sale of energy and solar renewable energy credits, forecasted operating expenses, net working capital requirements and tax expense from cash flows and benefits from depreciation of the acquired assets. Cash flows were discounted at an approximate 8% discount rate to determine the property, plant and equipment acquisition date fair value.

For the years ended December 31, 2014 and 2015, the Ahana Acquisition accounted for $0.4 million and $21.0 million of the Company's revenue, respectively, and $2.5 million and $4.0 million of the Company's transaction-related charges pertaining to legal, accounting and consulting services.

- Definition

The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=56956515&loc=d3e1497-128463

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=56956515&loc=d3e1490-128463

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+ Details

DISCONTINUED OPERATIONS - SALE OF U.S. RETAIL WIRELESS BUSINESS

12 Months Ended

Dec. 31, 2015

DISCONTINUED OPERATIONS - SALE OF U.S. RETAIL WIRELESS BUSINESS

DISCONTINUED OPERATIONS - SALE OF U.S. RETAIL WIRELESS BUSINESS

4. DISCONTINUED OPERATIONS—SALE OF U.S. RETAIL WIRELESS BUSINESS

On September 20, 2013, the Federal Communications Commission announced its approval of the previously announced proposed sale of the Company’s U.S. retail wireless business operated under the Alltel name to AT&T Mobility LLC for approximately $780.0 million in cash plus $16.8 million in working capital. The Company previously reported the operations of this business within its U.S. Wireless segment. As a result of that approval, the Company completed the sale of certain U.S. retail wireless assets on that date and recorded a gain in 2013 of approximately $307.1 million calculated as follows (in thousands):


Proceeds:
Received		$	702,000
Escrowed			78,000
Working capital			16,828
Adjusted proceeds			796,828
Less: Net assets sold or impaired:
Assets sold or impaired:
Current assets	51,597
Property, plant and equipment, net	190,970
Telecommunications licenses	50,553
Other intangible assets	37,434
Other assets	13,202
Liabilities sold:
Current liabilities	(40,674)
Other liabilities	(22,796)
Net assets sold or impaired			280,286
Less: Transaction related costs			(13,517)
Pre-tax gain			503,025
Less: Income taxes at effective rate			195,923
Net gain on sale		$	307,102

During 2014 and 2015, the Company recognized an additional $1.1 million of gain relating to changes in certain estimates.

The $796.8 million in cash proceeds included $78.0 million of cash held in a general indemnity escrow account. The Company recorded $39.0 million of the indemnity escrow as restricted cash within current assets in its consolidated balance sheet as of December 31, 2014. In March 2015, the $39.0 million indemnity escrow was released to the Company.

The Alltel trade name was not sold to AT&T Mobility LLC. Due to trade name assignment restrictions, and no planned use through continuing operations, the trade name was fully impaired. As a result, an impairment of $11.9 million was recorded as a part of the disposal and included in the 2013 net gain calculation.

Upon the sale, the Company recorded $28.9 million for the minority shareholders’ interests in the sold operation which was based on the estimated final distribution to the minority shareholders. In 2013, 2014 and 2015, $18.9 million, $5.8 million and $4.1 million, respectively, was distributed to minority shareholders. The Company has included $4.5 million and $0.4 million in non‑controlling interests on its December 31, 2014 and 2015 balance sheets, respectively.

The Company has reclassified the assets, which include prepayments and other current assets, and liabilities, which include accounts payable and accrued liabilities, of its Alltel operations to assets of discontinued operations and liabilities of discontinued operations within its December 31, 2014 balance sheets.

Revenues and income from discontinued operations related to the Alltel business for the years ended December 31, 2013 was as follows (in thousands):


	Year Ended December 31,
	2013
Revenue from discontinued operations	$	299,519
Income from discontinued operations, net of tax expense of $2,512		5,166

- Definition

The entire disclosure related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

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+ Details

LOSS ON DECONSOLIDATION OF SUBSIDIARY	12 Months Ended
LOSS ON DECONSOLIDATION OF SUBSIDIARY	Dec. 31, 2015
LOSS ON DECONSOLIDATION OF SUBSIDIARY
LOSS ON DECONSOLIDATION OF SUBSIDIARY	5. LOSS ON DECONSOLIDATION OF SUBSIDIARY During March 2015, the Company sold, to an unrelated party, certain assets and liabilities of its Turks and Caicos business in its Island Wireless segment. As a result, the Company recorded a loss of approximately $19.9 million arising from the deconsolidation of non-controlling interests of $20.0 million and a gain of $0.1 million arising from an excess of sales proceeds over the carrying value of net assets disposed of. The disposition is included within other income (expense) and does not relate to a strategic shift in the Company’s operations. As a result, the subsidiary’s historical results and financial position are presented within continuing operations.

ACCOUNTS RECEIVABLE

12 Months Ended

Dec. 31, 2015

ACCOUNTS RECEIVABLE:

ACCOUNTS RECEIVABLE:

6. ACCOUNTS RECEIVABLE:

As of December 31, 2014 and 2015, accounts receivable consist of the following (in thousands):


	2014		2015
Retail	$	21,367	$	23,805
Wholesale		41,245		24,341
Other		1,605		168
Accounts receivable		64,217		48,314
Less: allowance for doubtful accounts		(11,344)		(9,294)
Total accounts receivable, net	$	52,873	$	39,020

FIXED ASSETS

12 Months Ended

Dec. 31, 2015

FIXED ASSETS:

FIXED ASSETS:

7. FIXED ASSETS:

As of December 31, 2014 and 2015, property, plant and equipment consisted of the following (in thousands):


	Useful Life
	(in Years)	2014		2015
Telecommunications equipment and towers	5 -15	$	514,814	$	553,237
Solar assets	20-23		111,446		111,446
Office and computer equipment	3 -10		46,757		54,665
Buildings	15-39		18,079		18,540
Transportation vehicles	3 -10		7,589		8,882
Leasehold improvements	Shorter of useful life or lease term		11,494		11,592


Land	—		1,146		1,198
Furniture and fixtures	5 -10		8,110		6,584
Total property, plant and equipment			719,435		766,144
Construction in progress			43,982		41,103
Total property, plant and equipment			763,417		807,247
Less: Accumulated depreciation			(393,835)		(433,744)
Net fixed assets		$	369,582		373,503

Depreciation and amortization of fixed assets, using the straight‑line method over the assets’ estimated useful life, for the years ended December 31, 2013, 2014 and 2015 was $48.3 million, $50.3 million and $55.9 million, respectively.

For the years ended December 31, 2013, 2014 and 2015, amounts of capital expenditures were offset by grants of $31.6 million, $2.3 million and $2.6 million, respectively.

GOODWILL AND INTANGIBLE ASSETS

12 Months Ended

Dec. 31, 2015

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS

8. GOODWILL AND INTANGIBLE ASSETS

Goodwill

The Company tests goodwill for impairment on an annual basis, which has been determined to be as of December 31 of each fiscal year. The Company also tests goodwill between annual tests if an event occurs or circumstances change that indicate that the fair value of a reporting unit may be below its carrying value.

The Company employs both qualitative and quantitative tests of its goodwill. During 2015, the Company performed a qualitative assessment on goodwill to determine whether a quantitative assessment was necessary and determined there were no indicators of potential impairment. In 2014, the Company performed a qualitative assessment for some of the Company’s reporting units and determined there were no indicators of impairment. For the other reporting units in 2014, goodwill was evaluated using a quantitative model. The quantitative test for goodwill impairment is determined using a two‑step process. The first step involves a comparison of the estimated fair value of a reporting unit to its carrying amount, including goodwill. In performing the first step, the Company determines the fair value of a reporting unit using a discounted cash flow (“DCF”) analysis. Determining fair value requires the exercise of significant judgment, including judgments about appropriate discount rates, perpetual growth rates, and the amount and timing of expected future cash flows. Discount rates are based on a weighted‑average cost of capital (“WACC”), which represents the average rate a business must pay its providers of debt and equity. The cash flows employed in the DCF analysis were derived from internal earnings and forecasts and external market forecasts. If the estimated fair value of a reporting unit exceeds its carrying amount, goodwill of the reporting unit is not impaired and the second step of the impairment test is not necessary. If the carrying amount of a reporting unit exceeds its estimated fair value, then the second step of the goodwill impairment test must be performed.

The second step of our quantitative test for goodwill impairment compares the implied fair value of the reporting unit’s goodwill with its carrying amount of goodwill to measure the amount of impairment loss, if any. The implied fair value of goodwill is determined in the same manner as the amount of goodwill recognized in a business combination, whereby the estimated fair value of the reporting unit is allocated to all of the assets and liabilities of that unit (including any unrecognized intangible assets) as if the reporting unit had been acquired in a business combination and the fair value of the reporting unit was the purchase price paid. If the carrying amount of the reporting unit’s goodwill exceeds the implied fair value of that goodwill, an impairment loss is recognized in an amount equal to that excess.

The Company performed its annual impairment assessments of its goodwill as of December 31, 2014 and December 31, 2015 and determined that no impairment charges were required, as the fair value of each reporting unit exceeded its book value. Accordingly, there were no changes in the carrying amounts of goodwill during these years.

Telecommunications Licenses

The Company tests those telecommunications licenses that are indefinite lived for impairment on an annual basis, which has been determined to be as of December 31st of each fiscal year. The Company also tests telecommunication licenses that are indefinite lived between annual tests if an event occurs or circumstances change that indicate that the fair value of a reporting unit may be below its carrying value.

The Company performed a qualitative assessment for its annual impairment assessment of substantially all of its indefinite lived telecommunications licenses as of December 31, 2014 and 2015 and determined that there were no indications of potential impairments.

The changes in the carrying amount of the Company’s telecommunications licenses, by operating segment, for the three years ended December 31, 2015 were as follows (in thousands):


	U.S.		U.S.		Island
	Wireless		Wireline		Wireless		Consolidated
Balance at December 31, 2013	$	19,888	$	31	$	19,768	$	39,687
Acquired licenses		5,025		—		—		5,025
Amortization		—		—		(622)		(622)
Balance at December 31, 2014	$	24,913	$	31	$	19,146	$	44,090
Amortization		—		—		(622)		(622)
Balance at December 31, 2015	$	24,913	$	31	$	18,524	$	43,468

The licenses acquired during 2014 were acquired in all cash transactions from various parties and related to licenses expected to be available for use into perpetuity. The Company’s Island Wireless segment is amortizing one of its telecommunications licenses through its expiration date of June 2020.

Customer Relationships

The customer relationships, all of which are included in the Island Wireless segment, are being amortized on an accelerated basis, over the expected period during which their economic benefits are to be realized. The Company recorded $0.4 million of amortization related to customer relationships during each of the three years ended December 31, 2015.

Future amortization of customer relationships, in our Island Wireless segment, is as follows (in thousands):


	Future Amortization
2016	$	309
2017		276
2018		200
2019		145
2020		111
Thereafter		40
Total	$	1,081

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

+ References + Details

LONG-TERM DEBT	12 Months Ended
LONG-TERM DEBT	Dec. 31, 2015
LONG-TERM DEBT
LONG-TERM DEBT	9. LONG‑TERM DEBT On September 20, 2013, the Company repaid, in full, all of its then outstanding term loans under its Credit Facility. The Company incurred nominal fees for the breakage of the term loans and recorded approximately $4.7 million in interest expense during the year ended December 31, 2013 related to the accelerated amortization of deferred financing costs associated with the term loans. Amounts the Company borrowed under the term loans bore interest through September 20, 2013 at a rate equal to, at its option, either (i) LIBOR plus an applicable margin ranging between 2.00% to 4.00% or (ii) a base rate plus an applicable ranging from 1.00% to 3.00%. The base rate was equal to the higher of (i) 1.50% plus the higher of (x) the one-week LIBOR and (y) the one-month LIBOR; or (ii) the prime rate (as defined in the Credit Facility). The applicable margin was determined based on the ratio of the Company’s indebtedness (as defined in the Credit Facility) to its EBITDA (as defined in the Amended Credit Facility). Amounts borrowed under the revolver loan bore interest at a rate equal to, at the Company’s option, either (i) LIBOR plus an applicable margin ranging between 2.00% to 3.50% or (ii) a base rate plus an applicable ranging from 1.00% to 2.50% (or, in the case of amounts borrowed under the swing‑line sub‑ facility, an applicable margin ranging from 0.50% to 2.00%). The Company also paid a fee ranging from 0.25% to 0.50% of the average daily unused portion of the revolver loan over each calendar quarter, which fee was payable in arrears on the last day of each calendar quarter. On December 19, 2014, the Company amended and restated its credit facility with CoBank, ACB and a syndicate of other lenders to provide for a $225 million revolving credit facility (the ”Amended Credit Facility”) that includes (i) up to $10 million under the Amended Credit Facility for standby or trade letters of credit, (ii) up to $25 million under the Amended Credit Facility for letters of credit that are necessary or desirable to qualify for disbursements from the FCC’s mobility fund and (iii) up to $10 million under a swingline sub-facility. Amounts the Company may borrow under the Amended Credit Facility bear interest at a rate equal to, at its option, either (i) the London Interbank Offered Rate (LIBOR) plus an applicable margin ranging between 1.50% to 1.75% or (ii) a base rate plus an applicable margin ranging from 0.50% to 0.75%. Swingline loans will bear interest at the base rate plus the applicable margin for base rate loans. The base rate is equal to the higher of (i) 1.00% plus the higher of (x) the one-week LIBOR and (y) the one-month LIBOR; (ii) the federal funds effective rate (as defined in the Amended Credit Facility) plus 0.50% per annum; and (iii) the prime rate (as defined in the Amended Credit Facility). The applicable margin is determined based on the ratio (as further defined in the Amended Credit Facility) of the Company’s indebtedness to EBITDA. Under the terms of the Amended Credit Facility, the Company must also pay a fee ranging from 0.175% to 0.250% of the average daily unused portion of the Amended Credit Facility over each calendar quarter. The Amended Credit Facility contains customary representations, warranties and covenants, including a financial covenant that imposes a maximum ratio of indebtedness to EBITDA as well as covenants by the Company limiting additional indebtedness, liens, guaranties, mergers and consolidations, substantial asset sales, investments and loans, sale and leasebacks, transactions with affiliates and fundamental changes. In addition, the Amended Credit Facility contains a financial covenant by us that imposes a maximum ratio of indebtedness to EBITDA. As of December 31, 2015, the Company was in compliance with all of the financial covenants of the Amended Credit Facility. As of December 31, 2015, the Company had no borrowings under the Amended Credit Facility and approximately $10.6 million of outstanding letters of credit. Acquisition of Green Lake Capital, LLC In connection with the Ahana Acquisition on December 24, 2014, the Company assumed $38.9 million in long-term debt (the “Ahana Debt”). The Ahana Debt includes multiple loan agreements with banks that bear interest at rates between 4.5% and 6.0 %, mature at various times between 2018 and 2023 and are secured by certain solar facilities. Repayment of the Ahana Debt with the banks is made on a monthly basis until maturity. The Ahana Debt also includes a loan from Public Service Electric & Gas (PSE&G). The note payable to PSE&G bears interest at 11.3%, matures in 2027, and is secured by certain solar facilities. Repayment of the Ahana Debt with PSE&G can be made in either cash or SRECs, at the Company’s discretion, with the value of the SRECs being fixed at the time of the loan’s closing. As of December 31, 2015, $32.9 million of the Ahana Debt remained outstanding.

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES

12 Months Ended

Dec. 31, 2015

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES

10. DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES

The Company’s objective in using interest rate derivatives was to add stability to interest expense and to manage its exposure to the interest rate movements of its variable‑rate debt. To accomplish this objective, the Company primarily used interest rate derivatives as part of its interest rate risk management strategy. Interest rate derivatives designated as cash flow hedges involved the receipt of variable‑rate amounts from a counterparty in exchange for the Company making fixed‑rate payments over the life of the agreements without exchange of the underlying notional amount.

The effective portion of changes in the fair value of interest rate derivatives designated and that qualified as cash flow hedges was recorded in accumulated other comprehensive income and was subsequently reclassified into earnings in the period that the hedged forecasted transaction affected earnings.

As a result of the repayment of its variable‑rate debt on September 20, 2013, the Company terminated its interest rate derivatives and paid $5.4 million, the net fair value of those derivatives, to its counterparties. The Company recognized this amount as an expense during the year ended December 31, 2013 and as a separate line in the consolidated income statements.

Amounts previously reported in accumulated other comprehensive income related to the interest rate derivatives were reclassified to “Loss on interest rate derivative contracts” as of the date of the prepayment of the Company’s outstanding term notes.

The table below presents the effect of the Company’s derivative financial instruments on the consolidated income statements for the year ended December 31, 2013 (in thousands):


					Amount of Gain or
		Amount of Gain or			(Loss) Reclassified
		(Loss) Recognized		Location of Gain or	from Accumulated
		in Other		(Loss) Reclassified	Other
		Comprehensive		from Accumulated	Comprehensive
		Income on		Other	Income into
	Derivative in Cash Flow	Derivative		Comprehensive	Income
Year ended December 31,	Hedging Relationships	(Effective Portion)		Income into Income (Effective Portion)	(Effective Portion)
2013	Interest Rate Swap	$	6,255	Interest expense	$	764

- Definition

The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
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+ Details

GOVERNMENT GRANTS	12 Months Ended
GOVERNMENT GRANTS	Dec. 31, 2015
GOVERNMENT GRANTS
GOVERNMENT GRANTS	11. GOVERNMENT GRANTS The Company has received funding from the U.S. Government and its agencies under Stimulus and Universal Services Fund programs. These are generally designed to fund telecommunications infrastructure expansion into rural or underserved areas of the United States. The fund programs are evaluated to determine if they represent funding related to capital expenditures (capital grants) or operating activities (income grants). Stimulus Grants We were awarded several federal stimulus grants in 2009 and 2010 by the U.S. Government under provisions of the American Recovery and Reinvestment Act of 2009 intended to stimulate the deployment of broadband infrastructure and services to rural, unserved and underserved areas. As of December 31, 2015, we have spent (i) $35.8 million in capital expenditures (of which $27.5 million has been funded by the federal stimulus grant) in connection with our build of ten new segments of fiber-optic, middle-mile broadband infrastructure in upstate New York and parts of Pennsylvania and Vermont; (ii) $7.6 million in capital expenditures (of which $5.3 million has been funded by the federal stimulus grant) in connection with our last-mile broadband infrastructure buildout in the Navajo Nation across Arizona, New Mexico and Utah; and (iii) $47.9 million in capital expenditures (of which $33.0 million has been funded by the federal stimulus grant) in connection with our fiber-optic middle mile network buildout to provide broadband and transport services to over 340 community anchor institutions in Vermont. The results of our New York and Vermont stimulus projects are included in our “U.S. Wireline” segment and the results of our Navajo stimulus project are included in our “U.S. Wireless” segment. The New York and Navajo stimulus projects were completed during 2013. The Vermont stimulus project was completed during 2014. Mobility Fund As part of the Federal Communications Commission’s (“FCC”) reform of its Universal Service Fund (“USF”) program, which previously provided support to carriers seeking to offer telecommunications services in high-cost areas and to low-income households, the FCC created two new funds, including the Mobility Fund, a one-time award meant to support wireless coverage in underserved geographic areas in the United States. In August 2013 and October 2014, the Company received FCC final approvals for $21.7 million and $2.4 million, respectively, of Mobility Fund support to its wholesale wireless business (the “Mobility Funds”), to expand voice and broadband networks in certain geographic areas in order to offer either 3G or 4G coverage. As part of the receipt of the Mobility Funds, the Company committed to comply with certain additional FCC construction and other requirements. A portion of these funds will be used to offset network capital costs and a portion is used to offset the costs of supporting the networks for a period of five years from award date. In connection with the Company’s application for the Mobility Funds, the Company has issued approximately $10.6 million in letters of credit to the Universal Service Administrative Company (“USAC”) to secure these obligations. If the Company fails to comply with any of the terms and conditions upon which the Mobility Funds were granted, or if it loses eligibility for the Mobility Funds, USAC will be entitled to draw the entire amount of the letter of credit applicable to the affected project plus penalties and may disqualify the Company from the receipt of additional Mobility Fund support. The Company began the construction of its Mobility Funds projects during the third quarter of 2013 and their results are included in the Company’s “U.S. Wireless” segment. As of December 31, 2015, the Company has received approximately $8.1 million in Mobility Funds. Of these funds, $1.0 million was recorded as an offset to operating expenses, $3.4 million was recorded as an offset to the cost of the property, plant, and equipment associated with these projects and, consequentially, a reduction of future depreciation expense and $4.6 million is recorded within other current liabilities while the remaining $0.1 million of future operating costs is recorded within other long-term liabilities in the Company’s consolidated balance sheet as of December 31, 2015. The balance sheet presentation is based on the timing of the expected usage of the funds which will reduce future operations expenses.

EQUITY

12 Months Ended

Dec. 31, 2015

EQUITY

EQUITY

12. EQUITY

Common Stock

The Company has paid quarterly dividends on its common stock since January 1999.

Treasury Stock

During the years ended December 31, 2013, 2014 and 2015, the Company repurchased the following shares from employees to satisfy tax withholding and stock options exercise obligations incurred in connection with the vesting of restricted stock awards and the exercise of stock options:


		Aggregate
	Shares	Cost		Average
Year ended December 31,	Repurchased	(in thousands)		Repurchase Price
2013	163,222	$	8,103	$	49.64
2014	34,293		2,160		63.01
2015	37,567		2,705		72.01

Stock‑Based Compensation

The Company has 2,000,000 shares reserved for the grant of stock options, restricted stock, restricted stock units, stock equivalents and awards of shares of common stock that are not subject to restrictions or forfeiture.

Stock Options

Stock options have a term of ten years and vest annually and ratably over a period of four years.

The following table summarizes stock option activity for the years ended December 31, 2014 and 2015:


	Year Ended December 31, 2014
				Weighted Average
				Remaining
	Number of	Weighted Avg.		Contractual	Aggregate
	Options	Exercise Price		Term (Years)	Intrinsic Value
Outstanding at January 1, 2014	401,287	$	36.63
Exercised	(43,034)		37.68
Forfeited—Unvested	(7,000)		34.22
Outstanding at December 31, 2014	351,253		36.55	5.0	$	10,901,529
Vested and expected to vest at December 31, 2014	351,142		36.56	5.0	$	10,987,590
Exercisable at December 31, 2014	290,128		36.81	4.6	$	8,929,815


	Year Ended December 31, 2015
				Weighted Average
		Weighted Avg.		Remaining
	Number of	Exercise		Contractual	Aggregate
	Options	Price		Term (Years)	Intrinsic Value
Outstanding at January 1, 2015	351,253	$	36.55
Granted	5,000		71.43
Exercised	(87,378)		32.14
Forfeited—Unvested	—		—
Outstanding at December 31, 2015	268,875		38.64	4.7	$	10,646,006
Vested and expected to vest at December 31, 2015	268,011		38.53	4.7	$	10,640,134
Exercisable at December 31, 2015	248,875		38.05	4.5	$	9,998,956

The unvested options as of December 31, 2015 represent $0.2 million in unamortized stock‑based compensation which will be recognized over a weighted average term of 2.61 years.

The following table summarizes information relating to options granted and exercised during the years ended December 31, 2013, 2014 and 2015 (in thousands, except fair value of options granted data):


	2013		2014		2015
Weighted-average fair value of options granted	$	N/A	$	N/A	$	30.70
Aggregate intrinsic value of options exercised		6,111		1,098		3,488
Cash proceeds received upon exercise of options		2,669		1,621		1,999
Excess tax benefits from share-based compensation		2,101		513		1,423

The aggregate intrinsic value represents the total pre‑tax intrinsic value (the difference between our closing common stock price on December 31st and the exercise price, multiplied by the number of the in‑the‑money stock options) that would have been received by the stock option holders had all stock options holders exercised their stock options on December 31st. The amount of aggregate intrinsic value will change based on the fair market value of our common stock.

The Company did not grant any options during 2013 or 2014. The estimated fair value of the options granted during 2015 were determined using a Black Scholes option pricing model, based on the following weighted average assumptions:


	Options Granted in
	2015
Risk-free interest rate	1.55	%
Expected dividend yield	1.76	%
Expected life	6.25	years
Expected volatility	51.85	%

The Company recognized $1.4 million, $0.9 million and $0.4 million, respectively, of stock compensation expense relating to the granted options during 2013, 2014 and 2015, respectively.

Restricted Stock

Restricted stock issued under the 2008 Equity Investment Plan vest ratably over four years.

The following table summarizes restricted stock activity during the year ended December 31, 2014:


		Weighted Avg.
	Shares	Fair Value
Unvested as of January 1, 2014	154,519	$	44.04
Granted	109,318		64.73
Forfeited	(8,500)		51.44
Vested and issued	(60,194)		44.61
Unvested as of December 31, 2014	195,143	$	55.13

The following table summarizes restricted stock activity during the year ended December 31, 2015:


		Weighted Avg.
	Shares	Fair Value
Unvested as of January 1, 2015	195,143	$	55.13
Granted	93,864		66.26
Forfeited	(1,687)		65.18
Vested and issued	(68,919)		52.70
Unvested as of December 31, 2015	218,401	$	60.60

In connection with the grant of restricted shares, the Company recognized $3.1 million, $3.4 million and $4.3 million of compensation expense within its income statements for the years ended December 31, 2013, 2014 and 2015, respectively.

The unvested shares as of December 31, 2015 represent $9.4 million in unamortized stock based compensation which will be recognized over a weighted average period of 2.6 years.

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(d),(e))
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
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Reference 9: http://www.xbrl.org/2003/role/presentationRef
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-Publisher FASB
-Name Accounting Standards Codification
-Glossary Preferred Stock
-URI http://asc.fasb.org/extlink&oid=6521494

Reference 12: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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-Publisher SEC
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Reference 15: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 4
-Section C

+ Details

INCOME TAXES

12 Months Ended

Dec. 31, 2015

INCOME TAXES

INCOME TAXES

13. INCOME TAXES

The components of income before income taxes for the years ended December 31, 2013, 2014 and 2015 are as follows (in thousands):


	2013		2014		2015
Domestic	$	13,697	$	57,767	$	50,563
Foreign		32,776		28,401		5,638
Total	$	46,473	$	86,168	$	56,201

The following is a reconciliation from the tax computed at statutory income tax rates to the Company’s income tax expense for the years ended December 31, 2013, 2014, and 2015 (in thousands):


	2013		2014		2015
Tax computed at statutory U.S. federal income tax rates	$	16,270	$	30,160	$	19,652
Non-controlling interest		(2,750)		(1,229)		(2,807)
Income taxes in excess (below) statutory U.S. tax rates:
Guyana		701		(284)		379
Bermuda and Turks & Caicos		(3,203)		(4,712)		1,704
Turks & Caicos intercompany note receivable write-down		(8,572)		—		—
Foreign tax reserve		2,081		2,095		2,468
State taxes		400		1,252		935
Change in valuation allowance		(476)		(2,548)		(5,949)
Foreign tax credit expiration		1,820		2,999		6,396
Other, net		3,265		415		1,359
Income tax expense	$	9,536	$	28,148	$	24,137

The components of income tax expense (benefit) for the years ended December 31, 2013, 2014 and 2015 are as follows (in thousands):

\
	2013		2014		2015
Current:
United States—Federal	$	1,703	$	14,761	$	(1,308)
United States—State		895		1,347		(383)
Foreign		11,787		12,153		7,959
Total current income tax expense	$	14,385	$	28,261	$	6,268
Deferred:
United States—Federal	$	(5,273)	$	5,205	$	16,760
United States—State		169		466		1,636
Foreign		255		(5,784)		(527)
Total deferred income tax expense (benefit)		(4,849)		(113)		17,869
Consolidated:
United States—Federal	$	(3,570)	$	19,966	$	15,452
United States—State		1,064		1,813		1,253
Foreign		12,042		6,369		7,432
Total income tax expense	$	9,536	$	28,148	$	24,137

The significant components of deferred tax assets and liabilities are as follows as of December 31, 2014 and 2015 (in thousands):


	2014		2015
Deferred tax assets:
Receivables reserve	$	1,321	$	702
Temporary differences not currently deductible for tax		8,001		7,236
Deferred compensation		2,019		2,135
Foreign tax credit carryforwards		10,576		4,180
Pension		436		1,153
Net operating losses		4,171		4,463
Valuation allowance		(13,763)		(7,814)
Total deferred tax asset		12,761		12,055
Deferred tax liabilities:
Property, plant and equipment, net	$	27,681	$	43,718
Intangible assets, net		12,021		13,743
Tax on foreign earnings		1,050		—
Total deferred tax liabilities		40,752		57,461
Net deferred tax liabilities	$	27,991	$	45,406

Deferred tax assets and liabilities are reflected in the accompanying consolidated balance sheets as follows (in thousands):


	2014		2015
Deferred tax assets:
Current	$	2,588	$	—
Long term		—		—
Total deferred tax asset	$	2,588	$	—
Deferred tax liabilities:
Current	$	213	$	—
Long term		30,366		45,406
Total deferred tax liabilities	$	30,579	$	45,406
Net deferred tax liabilities	$	27,991	$	45,406

As of December 31, 2015, the Company adopted ASU 2015-17 which requires deferred tax liabilities and assets to be classified as non- current in a classified balance sheet.

As of December 31, 2015, the Company estimated that it had gross state and foreign net operating loss (“NOL”) carryforwards of $40.7 million and $8.6 million respectively. The state NOL’s will expire at various dates between 2016 and 2036. The foreign NOL consists of $5.5 million from Aruba, which will expire between 2016 and 2019. The remaining foreign NOL is from Guyana and has no expiration. The Company assesses the available positive and negative evidence to estimate if sufficient future taxable income will be generated to use the existing NOL deferred tax assets. A significant piece of negative evidence evaluated was the cumulative loss incurred by certain state and foreign reporting jurisdictions over the three-year period ended December 31, 2014. On the basis of this evaluation, the Company believed it was more likely than not that the benefit from these state and foreign NOL carryforwards would not be realized. In recognition of this risk at December 31, 2014, the Company provided a valuation allowance of $1.7 million and $1.4 million for the state and foreign NOL carryforwards, respectively. At December 31, 2015 our state and foreign NOL carryforward valuation allowance was $2.0 million and $1.7 million, respectively.

As of December 31, 2014, the Company had $10.5 million of foreign tax credits. During the year ended December 31, 2015, $6.3 million of foreign tax credit carryforwards expired. The remaining amount will expire in 2016. Similar to prior years, the Company examined its projected mix of foreign source and U.S. source earnings and concluded it is more likely than not that it will not generate sufficient foreign source income to utilize its existing foreign tax credits prior to their expiration date. As a result, the Company has continued to maintain a full valuation allowance against these credits through December 31, 2015.

The Company has approximately $156.9 million of undistributed earnings of its foreign subsidiaries that as of December 31, 2015 are considered to be indefinitely reinvested and accordingly, no U.S. federal or state income taxes have been provided thereon. Determination of the amount of unrecognized deferred U.S. income tax liability is not practical because of the complexities associated with its hypothetical calculation.

The Company had net unrecognized tax benefits (including interest and penalty) of $14.0 million as of December 31, 2013, $16.5 million as of December 31, 2014 and $18.9 million as of December 31, 2015. The net increase of the reserve during the year ended December 31, 2015 was attributable to additions to uncertain tax positions taken in the current and prior years.

The following shows the activity related to unrecognized tax benefits during the three years ended December 31, 2015 (in thousands):


Gross unrecognized tax benefits at December 31, 2012		10,336
Increase in uncertain tax positions		4,137
Lapse in statute of limitations		—
Gross unrecognized tax benefits at December 31, 2013		14,050
Increase in uncertain tax positions		1,675
Lapse in statute of limitations		(226)
Settlements		—
Gross unrecognized uncertain tax benefits at December 31, 2014		15,499
Increase in uncertain tax positions		1,717
Lapse in statute of limitations		—
Settlements		—
Gross unrecognized uncertain tax benefits at December 31, 2015	$	17,216

The Company’s accounting policy is to classify interest and penalties related to income tax matters as part of income tax expense. The accrued amounts for interest and penalties are $1.7 million as of December 31, 2015, and $1.0 million as of December 31, 2014, and $0.4 million as of December 31, 2013.

All $18.9 million of unrecognized tax benefits (including interest and penalty) would affect the effective tax rate if recognized.

The Company and its subsidiaries file income tax returns in the U.S. and in various state and local jurisdictions. The statute of limitations related to the consolidated U.S. federal income tax return is closed for all tax years up to and including 2011. The expiration of the statute of limitations related to the various state income tax returns that the Company and subsidiaries file varies by state. The Company does not expect that the amount of unrecognized tax benefits relating to U.S. tax matters will change significantly within the next 12 months.

The Company also files an income tax return in Guyana. See Note 15 relating to certain tax matters pertaining to those filings. There is no expected settlement date of those matters and upon settlement, which might not occur in the near future, the payment may vary significantly from the amounts currently recorded. The Company will continue to update amounts recorded as new developments arise.

RETIREMENT PLANS

12 Months Ended

Dec. 31, 2015

RETIREMENT PLANS

RETIREMENT PLANS

14. RETIREMENT PLANS

The Company has a noncontributory defined benefit pension plan for eligible employees of GT&T who meet certain age and employment criteria. Company contributions to fund the plan are intended to provide not only for benefits attributed for service to date but also for those expected to be earned in the future. The Company’s funding policy is to contribute to the plan such amounts as are actuarially determined to meet funding requirements. The benefits are based on the participants’ average salary or hourly wages during the last three years of employment and credited service years.

The weighted‑average rates assumed in the actuarial calculations for the pension plan are as follows as of December 31, 2013, 2014 and 2015:


	2013		2014		2015
Discount rate	5.75	%	5.75	%	5.75	%
Annual salary increase	7.50	%	6.50	%	6.50	%
Expected long-term return on plan assets	7.00	%	7.00	%	6.50	%

The expected long‑term rate of return on pension plan assets was determined based on several factors including input from pension investment consultants, projected long‑term returns of equity and bond indices in Guyana and elsewhere, including the United States, and historical returns over the life of the related obligations of the fund. The Company, in conjunction with its pension investment consultants, reviews its asset allocation periodically and rebalances its investments when appropriate in an effort to earn the expected long‑term returns. The Company will continue to evaluate its long‑term rate of return assumptions at least annually and will adjust them as necessary.

Changes during the year in the projected benefit obligations and in the fair value of plan assets are as follows for 2014 and 2015 (in thousands):


	2014		2015
Projected benefit obligations:
Balance at beginning of year:	$	12,237	$	14,093
Service cost		612		652
Interest cost		720		766
Benefits and settlements paid		(623)		(1,329)
Actuarial gain		1,129		218
Exchange rate adjustment		18		-
Balance at end of year	$	14,093	$	14,400
Plan net assets:
Balance at beginning of year:	$	12,673	$	13,165
Actual return on plan assets		267		110
Company contributions		832		-
Benefits and settlements paid		(623)		(1,329)
Exchange rate adjustment		16		-
Balance at end of year	$	13,165	$	11,946
Under funded status of plan	$	(928)	$	(2,454)

The Company’s investment policy for its pension assets is to have a reasonably balanced investment approach, with a long‑term bias toward debt investments. The Company’s strategy allocates plan assets among equity, debt and other assets in both Guyana and the United States to achieve long‑term returns without significant risk to principal. The fund is prohibited under Guyana law from investing in the equity, debt or other securities of the employer, its subsidiaries or associates of the employer or any company of which the employer is a subsidiary or an associate. Furthermore, the plan must invest between 70% - 80% of its total plan assets within Guyana.

The fair values for the pension plan’s net assets, by asset category, at December 31, 2015 are as follows (in thousands):


Asset Category	Total		Level 1		Level 2		Level 3
Cash, cash equivalents, money markets and other	$	9,730	$	7,950	$	1,780	$	—
Equity securities		1,760		1,760		—		—
Fixed income securities		456		456		—		—
Total	$	11,946	$	10,166	$	1,780	$	—

The plan’s weighted‑average asset allocations at December 31, 2014 and 2015, by asset category are as follows:


	2014		2015
Cash, cash equivalents, money markets and other	80.0	%	81.5	%
Equity securities	13.0		14.7
Fixed income securities	7.0		3.8
Total	100	%	100	%

Amounts recognized on the Company’s consolidated balance sheets consist of (in thousands):


	As of December 31,
	2014		2015
Other Liabilities	$	928	$	2,454
Accumulated other comprehensive loss, net of tax		(2,672)		(3,481)

Amounts recognized in accumulated other comprehensive loss consist of (in thousands):


	2014		2015
Net actuarial loss	$	(3,148)	$	(5,836)
Accumulated other comprehensive loss, pre-tax	$	(3,148)	$	(5,836)
Accumulated other comprehensive loss, net of tax	$	(2,672)	$	(3,481)

Components of the plan’s net periodic pension cost are as follows for the years ended December 31, 2013, 2014 and 2015 (in thousands):


	2013		2014		2015
Service cost	$	543	$	612	$	652
Interest cost		665		720		766
Expected return on plan assets		(949)		(848)		(813)
Amortization of unrecognized net actuarial loss		150		218		245
Net periodic pension cost	$	409	$	702	$	850

For the year ended December 31, 2016, the Company expects to contribute approximately $586 to its pension plan.

The following estimated pension benefits, which reflect expected future service, as appropriate, are expected to be paid over the next ten years as indicated below (in thousands):


	Pension
Fiscal Year	Benefits
2016	$	643
2017		667
2018		757
2019		614
2020		800
2021 - 2025		5,286
	$	8,767

COMMITMENTS AND CONTINGENCIES

12 Months Ended

Dec. 31, 2015

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES

15. COMMITMENTS AND CONTINGENCIES

The Company and its subsidiaries are subject to certain regulatory and legal proceedings and other claims arising in the ordinary course of business, some of which involve claims for damages and taxes that are substantial in amount. The Company believes that, except for the items discussed below, for which the Company is currently unable to predict the final outcome, the disposition of proceedings currently pending will not have a material adverse effect on the Company’s financial position or results of operations.

The Company had previously amended its Amended Credit Facility to provide for an additional $55 million letter of credit sub‑facility to its revolver loan to be available for issuance in connection with the Company’s Mobility Fund Grant obligations. On June 17, 2013, the Company issued approximately $29.8 million in letters of credit to the Universal Service Administrative Company to secure a portion of the pending awards of approximately $68.8 million of Mobility Fund Grants to certain of its subsidiaries. In connection with the Company’s sale of its Alltel business on September 20, 2013, it notified the FCC and USAC that it would no longer be eligible to perform under the terms and conditions of the Alltel Mobility Funds. At that time, USAC chose not to draw any amounts under our letter of credit securing the Alltel Mobility Funds and the Company terminated $19.9 million in letters of credit on November 14, 2013. See Note 11 for further information about the Mobility Fund. As of December 31, 2013 the Company had approximately $9.9 million in letters of credit payable to USAC outstanding to cover its Mobility Fund obligations and there were no draw downs against these letters of credit. The letters of credit accrue a fee at a rate of 1.75% per annum on the outstanding amounts. If the Company fails to comply with certain terms and conditions upon which the Mobility Fund Grants are to be granted, or if it loses eligibility for Mobility Fund support, USAC will be entitled to draw the entire amount of the letter of credit applicable to the affected project including penalties. The results of the Company’s Mobility Fund projects, once initiated, will be included in the Company’s “U.S. Wireless” segment.

Currently, the Company’s Guyana subsidiary, GT&T, holds a license to provide domestic fixed services and international voice and data services in Guyana on an exclusive basis until December 2030. Since 2001, the Government of Guyana has stated its intention to introduce additional competition into Guyana’s telecommunications sector. Since that time, the Company and GT&T have met on several occasions with officials of the Government of Guyana to discuss potential modifications of GT&T’s exclusivity and other rights under the existing agreement and license. In 2012, the Government of Guyana introduced draft legislation in Parliament that, if enacted, would have the effect of terminating the Company’s exclusive license rights by permitting other telecommunications carriers to receive licenses to provide domestic fixed services and international voice and data services in Guyana. Along with the draft legislation, the Government also released drafts of new regulations and licenses (collectively, the “Draft Laws”). These Draft Laws would also introduce material changes to many other features of Guyana’s existing telecommunications regulatory regime. While little or no substantive actions were taken on the Draft Laws since 2012, the Company cannot predict when or if the proposed legislation will be adopted by Parliament or, if adopted and then signed into law by the President, the manner in which it would be implemented by the Minister of Telecommunications and the PUC. Although the Company believes that it would be entitled to damages or other compensation for any involuntary termination of its contractual exclusivity rights, it cannot guarantee that the Company would prevail in a proceeding to enforce its rights or that its actions would effectively halt any unilateral action by the Government.

Historically, GT&T has been subject to other litigation proceedings and disputes in Guyana that, while not conclusively resolved, to the Company’s knowledge have not been the subject of discussions or other significant activity in the last five years. It is possible, but not likely, that these disputes, as discussed below, may be revived. The Company believes that none of these additional proceedings would, in the event of an adverse outcome, have a material impact on the Company’s consolidated financial position, results of operation or liquidity.

In a letter dated September 8, 2006, the National Frequency Management Unit (“NFMU”) agreed that total spectrum fees in Guyana should not increase for the years 2006 and 2007. However, that letter implied that spectrum fees in 2008 and onward may be increased beyond the amount GT&T agreed to with the Government. GT&T has objected to the NFMU’s proposed action and reiterated its position that an increase in fees prior to development of an acceptable methodology would violate the Government’s prior agreement. In 2011, GT&T paid the NFMU $2.6 million representing payments in full for 2008, 2009 and 2010. However, by letter dated November 23, 2011, the NFMU stated that it did not concur with GT&T’s inference that the amount was payment in full for the specified years as it was their continued opinion that the final calculation for GSM spectrum fees was not agreed upon and was still an outstanding issue. By further letter dated November 24, 2011, the NFMU further rejected a proposal that was previously submitted jointly by GT&T and Digicel which outlined a recommended methodology for the calculation of these fees. The NFMU stated that it would prepare its own recommendation which it would send to the Minister of Telecoms for decision of the matter. GT&T paid additional spectrum fees in 2012 according to the methodology used for its 2011 payments, and have reserved amounts payable for 2013 and 2014 according to this methodology. There have been no further discussions on this subject and GT&T has not had the opportunity to review any recommendation made to the Minister.

In November 2007, Caribbean Telecommunications Limited (“CTL”) filed a complaint in the U.S. District Court for the District of New Jersey against GT&T and ATN claiming breach of an interconnection agreement for domestic cellular services in Guyana and related claims. CTL asserted over $200 million in damages. GT&T and ATN moved to dismiss the complaint on procedural and jurisdictional grounds. On January 26, 2009, the court granted the motions to dismiss the complaint on the grounds asserted. On November 7, 2009 and again on April 4, 2013, CTL filed a similar claim against GT&T and the PUC in the High Court of Guyana. The Company believes these claims are without merit and are duplicative of a previous claim filed by CTL in Guyana that was dismissed. There has been no action on these matters since the April 2013 filing.

On May 8, 2009, Digicel filed a lawsuit in Guyana challenging the legality of GT&T’s exclusive license rights under Guyana’s constitution. Digicel initially filed this lawsuit against the Attorney General of Guyana in the High Court. On May 13, 2009, GT&T petitioned to intervene in the suit in order to oppose Digicel’s claims and that petition was granted on May 18, 2009. GT&T filed an answer to the charge on June 22, 2009 and the case is pending. The Company believes that any legal challenge to GT&T’s exclusive license rights granted in 1990 is without merit and the Company intends to vigorously defend against such a legal challenge.

On February 17, 2010, GT&T filed a lawsuit in the High Court of Guyana asserting that, despite its denials, Digicel is engaged in international bypass in violation of GT&T’s exclusive license rights, the interconnection agreement between the parties, and the laws of Guyana. GT&T is seeking, among other things, injunctive relief to stop the illegal bypass activity, actual damages in excess of US$9 million and punitive damages of approximately US$5 million. Digicel filed counterclaims alleging that GT&T has violated the terms of the interconnection agreement and Guyana laws. GT&T intends to vigorously prosecute this suit.

GT&T is also involved in several legal claims regarding its tax filings with the Guyana Revenue Authority dating back to 1991 regarding the deductibility of intercompany advisory fees as well as other tax assessments. Should GT&T be held liable for any of the disputed tax assessments, totaling $32.4 million, the Company believes that the Government of Guyana would then be obligated to reimburse GT&T for any amounts necessary to ensure that GT&T’s return on investment was no less than 15% per annum for the relevant periods. The Company believes that some adverse outcome is probable and has accordingly accrued $5.0 million as of December 31, 2015 for these matters

The term of the Company’s telecommunications license to operate in Aruba expired on January 15, 2014. The government of Aruba informed the Company earlier in January 2014 that a renewed license would be issued only upon payment by the Company of a fee in the amount of Afl 7.2 million (or approximately US$4 million). The Company is continuing to operate as it is actively contesting the assessment of such fee.

Lease Commitments and Other Obligations

The Company leases approximately 2.6 million square feet for its operations centers, administrative offices and retail stores as well as certain tower sites under non‑cancelable operating leases. The Company’s obligations for payments under these leases are as follows at December 31, 2015 (in thousands):


2016		25,046
2017		21,919
2018		16,754
2019		10,080
2020		6,999
Thereafter		13,560
Total obligations under operating leases	$	94,358

Rent expense for the years ended December 31, 2013, 2014 and 2015 was $12.7 million, $15.0 million and $17.0 million, respectively.

RELATED PARTY TRANSACTIONS	12 Months Ended
RELATED PARTY TRANSACTIONS	Dec. 31, 2015
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS	16. RELATED‑PARTY TRANSACTIONS In October 2014, the Company’s U.S. Virgin Islands business, Choice Communications, LLC (“Choice”), entered into a tower lease with Tropical Tower Ltd (“Tropical Tower”), an entity 90% owned by Cornelius B. Prior, Jr., the Chairman of the Company’s Board of Directors. When aggregated with amounts that Choice currently pays to Tropical Tower for an existing tower lease entered into in April 2012, Choice will pay approximately $117,000 per year in rental payments to Tropical Tower. Each tower lease has an initial term of five years, with two additional five year renewal periods and has provisions for an increase in rent by 5% each year. Our Audit Committee reviewed the specific structure and terms of the October 2014 lease, as negotiated by Choice management, and unanimously approved the arrangement described above in accordance with the terms of our Related Person Transaction Policy.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References + Details

SEGMENT REPORTING

12 Months Ended

Dec. 31, 2015

SEGMENT REPORTING

SEGMENT REPORTING

17. SEGMENT REPORTING

For the year ended December 31, 2013, the Company had four reportable segments for separate disclosure in accordance with the FASB’s authoritative guidance on disclosures about segments of an enterprise. Those four segments were: i) U.S. Wireless, which generates all of its revenues in and has all of its assets located in the United States, ii) International Integrated Telephony, which generates all of its revenues in and has all of its assets located in Guyana, iii) Island Wireless, which generates a majority of its revenues in, and has a majority of its assets located in, Bermuda and which also generates revenues in and has assets located in the U.S. Virgin Islands, Aruba and Turks and Caicos and iv) U.S. Wireline, which generates all of its revenues in and has all of its assets located in the United States. With the Ahana Acquisition on December 24, 2014, the Company added a fifth reportable segment, Renewable Energy, which generates all of its revenues in and has all of its assets located in the United States. Segment presentation for 2013 was not impacted by the change in segments in 2014. The segment presentation in 2015 is unchanged from 2014. The operating segments are managed separately because each offers different services and serves different markets.

The following tables provide information for each operating segment (in thousands):


For the Year Ended December 31, 2013
			International
	U.S.		Integrated		Island		U.S.		Renewable		Reconciling
	Wireless		Telephony		Wireless		Wireline		Energy		Items		Consolidated
Revenue
U.S. Wireless	$	107,930	$	—	$	—	$	—	$	—	$	—	$	107,930
International Wireless		—		30,334		61,098		—		—		—		91,432
Wireline		610		61,475		—		22,500		—		—		84,585
Equipment and Other		465		1,637		6,555		231		—		—		8,888
Total Revenue		109,005		93,446		67,653		22,731		—		—		292,835
Depreciation and amortization		14,308		17,975		10,305		3,182		—		2,967		48,737
Non-cash stock-based compensation		—		—		—		—		—		4,454		4,454
Operating income (loss)		54,867		27,662		8,610		(1,076)		—		(25,978)		64,085


For the Year Ended December 31, 2014
			International
	U.S.		Integrated		Island		U.S.		Renewable		Reconciling
	Wireless		Telephony		Wireless		Wireline		Energy		Items		Consolidated
Revenue
U.S. Wireless	$	153,040	$	—	$	—	$	—	$	—	$	—	$	153,040
International Wireless		—		26,819		61,831		—		—		—		88,650
Wireline		609		59,129		—		25,546		—		—		85,284
Equipment and Other		943		984		6,744		253		449		—		9,373
Total Revenue		154,592		86,932		68,575		25,799		449		—		336,347
Depreciation and amortization		14,345		17,408		10,671		4,725		105		3,980		51,234
Non-cash stock-based compensation		—		—		—		—		—		4,323		4,323
Operating income (loss)		89,187		19,628		9,046		(3,668)		(2,218)		(26,399)		85,576


For the Year Ended December 31, 2015
			International
	U.S.		Integrated		Island		U.S.		Renewable		Reconciling
	Wireless		Telephony		Wireless		Wireline		Energy		Items		Consolidated
Revenue
U.S. Wireless	$	155,390	$	—	$	—	$	—	$	—	$	—	$	155,390
International Wireless		—		25,706		55,946		—		—		—		81,652
Wireline		613		61,244		—		24,628		—		—		86,485
Renewable energy		—		—		—		—		21,040		—		21,040
Equipment and Other		2,125		1,943		6,504		230		—		—		10,802
Total Revenue		158,128		88,893		62,450		24,858		21,040		—		355,369
Depreciation and amortization		17,605		16,470		8,413		4,635		4,820		4,947		56,890
Non-cash stock-based compensation		—		—		—		—		267		4,708		4,975
Operating income (loss)		78,357		15,738		12,462		(3,898)		6,720		(30,784)		78,595


			International
	U.S.		Integrated		Island		U.S.		Renewable		Reconciling
	Wireless		Telephony		Wireless		Wireline		Energy		Items			Consolidated
December 31, 2014
Net fixed assets	$	79,910	$	108,972	$	26,590	$	28,113	$	111,342	$	14,655		$	369,582
Goodwill		32,148		—		5,438		7,491		—		—			45,077
Total assets		188,377		202,171		74,563		42,446		130,124		287,349	(1)		925,030
December 31, 2015
Net fixed assets	$	89,466	$	110,063	$	23,199	$	30,130	$	106,560	$	14,085		$	373,503
Goodwill		32,148		—		5,438		7,491		—		—			45,077
Total assets		182,669		207,023		71,747		45,038		122,788		315,740			945,004

(1)

Includes $175 of assets associated with our discontinued operations as of December 31, 2014.


		Capital Expenditures
				International
		U.S.		Integrated		Island		U.S.		Renewable		Reconciling
Year ended December 31,		Wireless		Telephony		Wireless		Wireline		Energy		Items		Consolidated
2014	$	33,446	$	10,646	$	6,064	$	4,680	$	—	$	3,464	$	58,300
2015		29,741		14,549		8,255		7,847		38		4,323		64,753

Reconciling items refer to corporate overhead matters and consolidating adjustments.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8981-108599

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
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-Publisher FASB
-Name Accounting Standards Codification
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Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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+ Details

QUARTERLY FINANCIAL DATA (UNAUDITED)

12 Months Ended

Dec. 31, 2015

QUARTERLY FINANCIAL DATA (UNAUDITED)

QUARTERLY FINANCIAL DATA (UNAUDITED)

18. QUARTERLY FINANCIAL DATA (UNAUDITED)

Following is a summary of the Company’s quarterly results of operations for the years ended December 31, 2014 and 2015 (in thousands):


	2014 Consolidated for the Three Months Ended
	March 31		June 30		September 30		December 31
Total revenue	$	75,174	$	83,269	$	89,393	$	88,511
Operating expenses		58,926		61,662		61,235		68,948
Income from operations		16,248		21,607		28,158		19,563
Other income (expense), net		(295)		53		325		509
Income from continuing operations before income taxes		15,953		21,660		28,483		20,072
Income taxes		5,552		7,338		9,569		5,689
Income from continuing operations		10,401		14,322		18,914		14,383
Income from discontinued operations:
Income (loss) from discontinued operations, net of tax		—		—		—		—
Gain on sale of discontinued operations, net of tax		—		—		—		1,102
Income from discontinued operations, net of tax		—		—		—		1,102
Net income		10,401		14,322		18,914		15,485
Net income attributable to non-controlling interests, net of tax:
Continuing operations		(2,560)		(2,809)		(2,747)		(2,854)
Discontinued operations		—		—		—		—
Disposal of discontinued operations		—		—		—		—
		(2,560)		(2,809)		(2,747)		(2,854)
Net income attributable to Atlantic Tele-Network, Inc. stockholders		7,841		11,513		16,167		12,631
Net income per weighted average basic share attributable to Atlantic Tele-Network, Inc. stockholders
Continuing operations		0.50		0.72		1.02		0.72
Discontinued operations:
Discontinued operations		—		—		—		—
Gain on sale of discontinued operations		—		—		—		0.07
Total discontinued operations		—		—		—		0.07
Total		0.50		0.72		1.02		0.79
Net income per weighted average diluted share attributable to Atlantic Tele-Network, Inc. stockholders
Continuing operations		0.49		0.72		1.01		0.72
Discontinued operations:
Discontinued operations		—		—		—
Gain on Sale of discontinued operations		—		—		—		0.07
Total discontinued operations		—		—		—		0.07
Total		0.49		0.72		1.01		0.79


	2015 Consolidated for the Three Months Ended
	March 31		June 30		September 30		December 31
Total revenue	$	85,345	$	90,326	$	96,782	$	82,916
Operating expenses		66,187		61,594		74,258		74,735
Income from operations		19,158		28,732		22,524		8,181
Other income (expense), net		(20,528)		(706)		(742)		(418)
Income (Loss)from continuing operations before income taxes		(1,370)		28,026		21,782		7,763
Income taxes		(487)		13,008		10,134		1,482
Income (Loss) from continuing operations		(883)		15,018		11,648		6,281
Income from discontinued operations:
Gain on sale of discontinued operations, net of tax		389		—		—		702
Income from discontinued operations, net of tax		390		—		—		702
Net income		(493)		15,018		11,648		6,983
Net income attributable to non-controlling interests, net of tax:
Continuing operations		(2,777)		(5,568)		(5,072)		(2,799)
Discontinued operations		—		—		—		—
Disposal of discontinued operations		—		—		—		—
		(3,270)		9,450		6,576		4,184
Net income attributable to Atlantic Tele-Network, Inc. stockholders
Net income per weighted average basic share attributable to Atlantic Tele-Network, Inc. stockholders
Continuing operations		(0.18)		0.59		0.41		0.17
Discontinued operations:
Discontinued operations		0.07		—		—		—
Gain on sale of discontinued operations		—		—		—		—
Total discontinued operations		0.07		—		—		—
Total		(0.11)		0.59		0.41		0.17
Net income per weighted average diluted share attributable to Atlantic Tele-Network, Inc. stockholders
Continuing operations		(0.18)		0.59		0.41		0.16
Discontinued operations:
Discontinued operations		0.07		—		—		—
Gain on Sale of discontinued operations		—		—		—		—
Total discontinued operations		0.07		—		—		—
Total		(0.11)		0.59		0.41		0.16

During the year ended December 31, 2014, the Company recognized approximately $0.8 million in general and administrative expenses to correct for an understatement of transactional tax liabilities generated primarily in the three months ended March 31, 2014 and $1.1 million in other income to correct for an understatement of foreign exchange gains generated in period during 2013.

During the three months ended December 31, 2015, the Company recognized an approximate $0.7million benefit to correct for tax basis differences and expense recognition related to prior periods. Of these errors, $0.7 million primarily related to the three months ended September 30, 2015 and $0.1 million related to the year ended December 31, 2014. The Company determined that the impact of the correction of these errors was not material to the current or any prior period financial statements.

SUBSEQUENT EVENT	12 Months Ended
SUBSEQUENT EVENT	Dec. 31, 2015
SUBSEQUENT EVENT
SUBSEQUENT EVENT	19. SUBSEQUENT EVENTS On January 11, 2016, the Company entered into an Amendment, Consent and Confirmation Agreement (the “Amendment”) to its Amended Credit Facility, providing for lender consent to, among other actions, (i) the contribution by the Company of all of its equity interests in ATN Bermuda Holdings, Ltd. to ATN Overseas Holdings, Ltd. in connection with the KeyTech Transaction, and subject to the closing of the KeyTech Transaction, a one-time, non-pro rata cash distribution by KeyTech Limited in an aggregate amount not to exceed $13.0 million to certain of KeyTech Limited’s shareholders; and (ii) the incurrence by certain subsidiaries of the Company of secured debt in an aggregate principal amount not to exceed $60.0 million in connection with the Innovative Transaction. The Amendment also increases the amount the Company is permitted to invest in “unrestricted” subsidiaries of the Company, which are not subject to the covenants of the Amended Credit Facility, from $275.0 million to $400.0 million (as such increased amount shall be reduced from time to time by the aggregate amount of certain dividend payments to the Company’s stockholders).The Amendment also provides for the incurrence by the Company of incremental term loan facilities, when combined with increases to revolving loan commitments under the Amended Credit Facility, in an aggregate amount not to exceed $200.0 million which facilities shall be subject to certain conditions, including pro forma compliance with the total net leverage ratio financial covenant under the Amended Credit Facility.

SCHEDULE II VALUATION AND QUALIFYING ACCOUNTS

12 Months Ended

Dec. 31, 2015

SCHEDULE II VALUATION AND QUALIFYING ACCOUNTS

SCHEDULE II VALUATION AND QUALIFYING ACCOUNTS

SCHEDULE I I

ATLANTIC TELE‑NETWORK, INC. AND SUBSIDIARIES

VALUATION AND QUALIFYING ACCOUNTS

(Amounts in Thousands)


	Balance at		Charged to				Balance
	Beginning		Costs and				at End
	of Year		Expenses		Deductions		of Year
YEAR ENDED, December 31, 2013
Description:
Valuation allowance on foreign tax credit carryforwards	$	15,396	$	—	$	1,820	$	13,576
Valuation allowance on foreign net operating losses		898		712		—		1,610
Valuation allowance on state net operating losses		494		632		—		1,126
Allowance for doubtful accounts		7,904		1,462		361		9,005
	$	24,692	$	2,806	$	2,181	$	25,317
YEAR ENDED, December 31, 2014
Description:
Valuation allowance on foreign tax credit carryforwards	$	13,576	$	—	$	2,999	$	10,577
Valuation allowance on foreign net operating losses		1,610		—		110		1,500
Valuation allowance on state net operating losses		1,126		561		—		1,687
Allowance for doubtful accounts		9,005		2,417		80		11,342
	$	25,317	$	2,978	$	3,189	$	25,106

YEAR ENDED, December 31, 2015
Description:
Valuation allowance on foreign tax credit carryforwards	$	10,577	$	—	$	6,397	$	4,180
Valuation allowance on foreign net operating losses		1,500		172		—		1,672
Valuation allowance on state net operating losses		1,687		275		—		1,962
Allowance for doubtful accounts		11,342		857		2,906		9,293
	$	25,106	$	1,304	$	9,303	$	17,107

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)

12 Months Ended

Dec. 31, 2015

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation

Use of Estimates

Cash and Cash Equivalents

Restricted Cash

Allowance for Doubtful Accounts

Materials and Supplies

Fixed Assets

The Company determined that there was no impairment of its fixed assets in any of the three years ended December 31, 2015.

Goodwill and Indefinite-Lived Intangible Assets

Goodwill and Indefinite‑Lived Intangible Assets

Intangible Assets

Customer relationships are amortized over their estimated lives of 12 years, which are based on the pattern in which economic benefit of the customer relationship is estimated to be realized.

Interest Rate Derivatives

Risk Management Objective of Using Derivatives

Debt

Non-Controlling Interests

Non‑Controlling Interests

Changes in Accumulated Other Comprehensive Income (Loss)

Changes in accumulated other comprehensive income (loss), by component, were as follows (in thousands):


	Projected
	Pension
	Benefit		Translation
	Obligation		Adjustment		Total

Balance at December 31, 2013	$	(1,949)	$	(253)	$	(2,202)
Adjust funded status of pension plan, net of tax of $0.6 million		(723)		—		(723)
Foreign currency translation adjustment		—		4		4
Balance at December 31, 2014		(2,672)		(249)		(2,921)
Adjust funded status of pension plan, net of tax of $0.7 million		(809)		—		(809)
Foreign currency translation adjustment		—		26		26
Balance at December 31, 2015	$	(3,481)	$	(223)	$	(3,704)

Revenue Recognition

Revenue Recognition- Telecommunications

Sales and use and state excise taxes collected from customers that are remitted to the governmental authorities are reported on a net basis and excluded from the revenues and sales.

Revenue Recognition-Renewable Energy

Accounting for Grants

Income Taxes

The Company does not provide for United States income taxes on earnings of foreign subsidiaries as such earnings are considered to be indefinitely reinvested.

Credit Concentrations and Significant Customers


Customer	2013		2014		2015
Verizon	13	%	16	%	19	%
AT&T	18	%	26	%	17	%

No other customer accounted for more than 10% of consolidated revenue in any of the past three years.


Customer	2014		2015
AT&T	47	%	17	%
Verizon	7	%	13	%

Foreign Currency Gains and Losses

Fair Value of Financial Instruments


Level 1	Quoted prices in active markets for identical assets or liabilities as of the reporting date. Active markets are those in which transactions for the asset and liability occur in sufficient frequency and volume to provide pricing information on an ongoing basis. Level 1 assets and liabilities include money market funds, debt and equity securities and derivative contracts that are traded in an active exchange market.
Level 2	Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 2 assets and liabilities include debt securities with quoted prices that are traded less frequently than exchange‑traded instruments and derivative contracts whose value is determined using a pricing model with inputs that are observable in the market or can be derived principally from or corroborated by observable market data. This category generally includes corporate obligations and non‑exchange traded derivative contracts.
Level 3	Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. Level 3 assets and liabilities include financial instruments and intangible assets that have been impaired whose value is determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which the determination of fair value requires significant management judgment or estimation.

Assets and liabilities of the Company measured at fair value on a recurring basis as of December 31, 2014 and 2015 are summarized as follows:


	December 31, 2014
			Significant Other
	Quoted Prices in		Observable
	Active Markets		Inputs
Description	(Level 1)		(Level 2)		Total
Certificates of deposit	$	—	$	363	$	363
Money market funds	$	1,493	$	—	$	1,493
Total assets measured at fair value	$	1,493	$	363	$	1,856


	December 31, 2015
			Significant Other
	Quoted Prices in		Observable
	Active Markets		Inputs
Description	(Level 1)		(Level 2)		Total
Certificates of deposit	$	—	$	377	$	377
Money market funds	$	76,263	$	—	$	76,263
Total assets measured at fair value	$	76,263	$	377	$	76,640

Certificate of Deposit

Money Market Funds

Derivatives

As a result of the repayment of its variable rate debt on September 20, 2013, the Company terminated its interest rate derivatives.

Other Fair Value Disclosures

Net Income Per Share

The reconciliation from basic to diluted weighted average common shares outstanding is as follows (in thousands):


	Year ended December 31,
	2013	2014	2015
Basic weighted-average common shares outstanding	15,704	15,898	16,022
Stock options	113	115	120
Diluted weighted-average common shares outstanding	15,817	16,013	16,142

The following notes the number of potential common shares not included in the above calculation because the effects of such were anti‑dilutive (in thousands of shares):


	For the Year Ended
	December 31,
	2013	2014	2015
Stock options	61	—	2
Total	61	—	2

Stock-Based Compensation

Stock‑Based Compensation

In connection with the Ahana Acquisition, the Company issued shares of Ahana Renewables to Ahana Renewables' management and recorded $0.3 million of stock based compensation during 2015.

Stock‑based compensation expense is recognized within general and administrative expenses within the consolidated income statements.

Recent Accounting Pronouncements

ORGANIZATION AND BUSINESS OPERATIONS (Tables)

12 Months Ended

Dec. 31, 2015

ORGANIZATION AND BUSINESS OPERATIONS

Schedule of the operating activities of the Company's principal subsidiaries, the segments in which the Company reports its revenue and markets served

The following chart summarizes the operating activities of the Company’s principal subsidiaries, the segments in which it reports its revenue and the markets it served as of December 31, 2015:


Services	Segment	Markets	Tradenames
Wireless	U.S. Wireless	United States (rural markets)	Commnet, Choice
	Island Wireless	Aruba, Bermuda, U.S. Virgin Islands	Mio, CellOne, Islandcom (through March 23, 2015), Choice
	International Integrated Telephony	Guyana	Cellink
Wireline	International Integrated Telephony	Guyana	GT&T
	U.S. Wireline	United States (New England and New York State)	Sovernet, ION, Essextel
Renewable Energy	Renewable Energy	United States (Massachusetts, California, and New Jersey)	Ahana Renewables

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2015

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Schedule of changes in accumulated other comprehensive income (loss), by component

Changes in accumulated other comprehensive income (loss), by component, were as follows (in thousands):


	Projected
	Pension
	Benefit		Translation
	Obligation		Adjustment		Total

Balance at December 31, 2013	$	(1,949)	$	(253)	$	(2,202)
Adjust funded status of pension plan, net of tax of $0.6 million		(723)		—		(723)
Foreign currency translation adjustment		—		4		4
Balance at December 31, 2014		(2,672)		(249)		(2,921)
Adjust funded status of pension plan, net of tax of $0.7 million		(809)		—		(809)
Foreign currency translation adjustment		—		26		26
Balance at December 31, 2015	$	(3,481)	$	(223)	$	(3,704)

Schedule of percentage of revenues generated from a single customer that exceeds 10% of the Company's consolidated revenue


Customer	2013		2014		2015
Verizon	13	%	16	%	19	%
AT&T	18	%	26	%	17	%

Schedule of percentage of accounts receivable, from customers that exceed 10% of the Company's consolidated accounts receivable, net of allowances


Customer	2014		2015
AT&T	47	%	17	%
Verizon	7	%	13	%

Schedule of assets and liabilities of the Company measured at fair value on a recurring basis


	December 31, 2014
			Significant Other
	Quoted Prices in		Observable
	Active Markets		Inputs
Description	(Level 1)		(Level 2)		Total
Certificates of deposit	$	—	$	363	$	363
Money market funds	$	1,493	$	—	$	1,493
Total assets measured at fair value	$	1,493	$	363	$	1,856


	December 31, 2015
			Significant Other
	Quoted Prices in		Observable
	Active Markets		Inputs
Description	(Level 1)		(Level 2)		Total
Certificates of deposit	$	—	$	377	$	377
Money market funds	$	76,263	$	—	$	76,263
Total assets measured at fair value	$	76,263	$	377	$	76,640

Schedule of reconciliation from basic to diluted weighted average common shares outstanding (in thousands)

The reconciliation from basic to diluted weighted average common shares outstanding is as follows (in thousands):


	Year ended December 31,
	2013	2014	2015
Basic weighted-average common shares outstanding	15,704	15,898	16,022
Stock options	113	115	120
Diluted weighted-average common shares outstanding	15,817	16,013	16,142

Schedule of anti-dilutive potential shares that were excluded from the computation of diluted weighted average shares outstanding

The following notes the number of potential common shares not included in the above calculation because the effects of such were anti‑dilutive (in thousands of shares):


	For the Year Ended
	December 31,
	2013	2014	2015
Stock options	61	—	2
Total	61	—	2

ACQUISITIONS (Tables)

12 Months Ended

Dec. 31, 2015

Ahana Renewables

Acquisitions

Schedule of assessment of total acquisition costs to net assets based on acquisition date fair values


Total consideration	$	78,782
Purchase price allocation:
Cash	$	6,571
Other current assets		2,011
Property, plant and equipment		111,446
Restricted cash		5,884
Current liabilities		(853)
Long-Term debt		(38,877)
Non-controlling interests		(7,400)
Net assets acquired	$	78,782

DISCONTINUED OPERATIONS - SALE OF U.S. RETAIL WIRELESS BUSINESS (Tables)

12 Months Ended

Dec. 31, 2015

DISCONTINUED OPERATIONS - SALE OF U.S. RETAIL WIRELESS BUSINESS

Schedule of gain on sale of operations

As a result of that approval, the Company completed the sale of certain U.S. retail wireless assets on that date and recorded a gain in 2013 of approximately $307.1 million calculated as follows (in thousands):


Proceeds:
Received		$	702,000
Escrowed			78,000
Working capital			16,828
Adjusted proceeds			796,828
Less: Net assets sold or impaired:
Assets sold or impaired:
Current assets	51,597
Property, plant and equipment, net	190,970
Telecommunications licenses	50,553
Other intangible assets	37,434
Other assets	13,202
Liabilities sold:
Current liabilities	(40,674)
Other liabilities	(22,796)
Net assets sold or impaired			280,286
Less: Transaction related costs			(13,517)
Pre-tax gain			503,025
Less: Income taxes at effective rate			195,923
Net gain on sale		$	307,102

Schedule of revenues and income from discontinued operations

Revenues and income from discontinued operations related to the Alltel business for the years ended December 31, 2013 was as follows (in thousands):


	Year Ended December 31,
	2013
Revenue from discontinued operations	$	299,519
Income from discontinued operations, net of tax expense of $2,512		5,166

ACCOUNTS RECEIVABLE (Tables)

12 Months Ended

Dec. 31, 2015

ACCOUNTS RECEIVABLE:

Schedule of accounts receivable

As of December 31, 2014 and 2015, accounts receivable consist of the following (in thousands):


	2014		2015
Retail	$	21,367	$	23,805
Wholesale		41,245		24,341
Other		1,605		168
Accounts receivable		64,217		48,314
Less: allowance for doubtful accounts		(11,344)		(9,294)
Total accounts receivable, net	$	52,873	$	39,020

FIXED ASSETS (Tables)

12 Months Ended

Dec. 31, 2015

FIXED ASSETS:

Schedule of property, plant and equipment

As of December 31, 2014 and 2015, property, plant and equipment consisted of the following (in thousands):


	Useful Life
	(in Years)	2014		2015
Telecommunications equipment and towers	5 -15	$	514,814	$	553,237
Solar assets	20-23		111,446		111,446
Office and computer equipment	3 -10		46,757		54,665
Buildings	15-39		18,079		18,540
Transportation vehicles	3 -10		7,589		8,882
Leasehold improvements	Shorter of useful life or lease term		11,494		11,592


Land	—		1,146		1,198
Furniture and fixtures	5 -10		8,110		6,584
Total property, plant and equipment			719,435		766,144
Construction in progress			43,982		41,103
Total property, plant and equipment			763,417		807,247
Less: Accumulated depreciation			(393,835)		(433,744)
Net fixed assets		$	369,582		373,503

GOODWILL AND INTANGIBLE ASSETS (Tables)

12 Months Ended

Dec. 31, 2015

GOODWILL AND INTANGIBLE ASSETS

Schedule of changes in the carrying amount of the Company's telecommunications licenses, by operating segment

The changes in the carrying amount of the Company’s telecommunications licenses, by operating segment, for the three years ended December 31, 2015 were as follows (in thousands):


	U.S.		U.S.		Island
	Wireless		Wireline		Wireless		Consolidated
Balance at December 31, 2013	$	19,888	$	31	$	19,768	$	39,687
Acquired licenses		5,025		—		—		5,025
Amortization		—		—		(622)		(622)
Balance at December 31, 2014	$	24,913	$	31	$	19,146	$	44,090
Amortization		—		—		(622)		(622)
Balance at December 31, 2015	$	24,913	$	31	$	18,524	$	43,468

Schedule of future amortization of customer relationships, in Island Wireless segment

Future amortization of customer relationships, in our Island Wireless segment, is as follows (in thousands):


	Future Amortization
2016	$	309
2017		276
2018		200
2019		145
2020		111
Thereafter		40
Total	$	1,081

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)

12 Months Ended

Dec. 31, 2015

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES

Schedule of effect of the entity's derivative financial instruments on the consolidated income statements

The table below presents the effect of the Company’s derivative financial instruments on the consolidated income statements for the year ended December 31, 2013 (in thousands):


					Amount of Gain or
		Amount of Gain or			(Loss) Reclassified
		(Loss) Recognized		Location of Gain or	from Accumulated
		in Other		(Loss) Reclassified	Other
		Comprehensive		from Accumulated	Comprehensive
		Income on		Other	Income into
	Derivative in Cash Flow	Derivative		Comprehensive	Income
Year ended December 31,	Hedging Relationships	(Effective Portion)		Income into Income (Effective Portion)	(Effective Portion)
2013	Interest Rate Swap	$	6,255	Interest expense	$	764

EQUITY (Tables)

12 Months Ended

Dec. 31, 2015

EQUITY

Schedule of shares repurchased from employees to satisfy tax obligations incurred in connection with the vesting of restricted stock awards and the exercise of stock options


		Aggregate
	Shares	Cost		Average
Year ended December 31,	Repurchased	(in thousands)		Repurchase Price
2013	163,222	$	8,103	$	49.64
2014	34,293		2,160		63.01
2015	37,567		2,705		72.01

Summary of stock option activity


	Year Ended December 31, 2014
				Weighted Average
				Remaining
	Number of	Weighted Avg.		Contractual	Aggregate
	Options	Exercise Price		Term (Years)	Intrinsic Value
Outstanding at January 1, 2014	401,287	$	36.63
Exercised	(43,034)		37.68
Forfeited—Unvested	(7,000)		34.22
Outstanding at December 31, 2014	351,253		36.55	5.0	$	10,901,529
Vested and expected to vest at December 31, 2014	351,142		36.56	5.0	$	10,987,590
Exercisable at December 31, 2014	290,128		36.81	4.6	$	8,929,815


	Year Ended December 31, 2015
				Weighted Average
		Weighted Avg.		Remaining
	Number of	Exercise		Contractual	Aggregate
	Options	Price		Term (Years)	Intrinsic Value
Outstanding at January 1, 2015	351,253	$	36.55
Granted	5,000		71.43
Exercised	(87,378)		32.14
Forfeited—Unvested	—		—
Outstanding at December 31, 2015	268,875		38.64	4.7	$	10,646,006
Vested and expected to vest at December 31, 2015	268,011		38.53	4.7	$	10,640,134
Exercisable at December 31, 2015	248,875		38.05	4.5	$	9,998,956

Summary of information relating to options granted and exercised

The following table summarizes information relating to options granted and exercised during the years ended December 31, 2013, 2014 and 2015 (in thousands, except fair value of options granted data):


	2013		2014		2015
Weighted-average fair value of options granted	$	N/A	$	N/A	$	30.70
Aggregate intrinsic value of options exercised		6,111		1,098		3,488
Cash proceeds received upon exercise of options		2,669		1,621		1,999
Excess tax benefits from share-based compensation		2,101		513		1,423

Schedule of weighted-average assumptions using Black-Scholes option-pricing model for estimating fair value of each option granted


	Options Granted in
	2015
Risk-free interest rate	1.55	%
Expected dividend yield	1.76	%
Expected life	6.25	years
Expected volatility	51.85	%

Summary of restricted stock activity

The following table summarizes restricted stock activity during the year ended December 31, 2014:


		Weighted Avg.
	Shares	Fair Value
Unvested as of January 1, 2014	154,519	$	44.04
Granted	109,318		64.73
Forfeited	(8,500)		51.44
Vested and issued	(60,194)		44.61
Unvested as of December 31, 2014	195,143	$	55.13

The following table summarizes restricted stock activity during the year ended December 31, 2015:


		Weighted Avg.
	Shares	Fair Value
Unvested as of January 1, 2015	195,143	$	55.13
Granted	93,864		66.26
Forfeited	(1,687)		65.18
Vested and issued	(68,919)		52.70
Unvested as of December 31, 2015	218,401	$	60.60

INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2015

INCOME TAXES

Schedule of components of income before income taxes

The components of income before income taxes for the years ended December 31, 2013, 2014 and 2015 are as follows (in thousands):


	2013		2014		2015
Domestic	$	13,697	$	57,767	$	50,563
Foreign		32,776		28,401		5,638
Total	$	46,473	$	86,168	$	56,201

Schedule of reconciliation from the tax computed at statutory income tax rates to the Company's income tax expense

The following is a reconciliation from the tax computed at statutory income tax rates to the Company’s income tax expense for the years ended December 31, 2013, 2014, and 2015 (in thousands):


	2013		2014		2015
Tax computed at statutory U.S. federal income tax rates	$	16,270	$	30,160	$	19,652
Non-controlling interest		(2,750)		(1,229)		(2,807)
Income taxes in excess (below) statutory U.S. tax rates:
Guyana		701		(284)		379
Bermuda and Turks & Caicos		(3,203)		(4,712)		1,704
Turks & Caicos intercompany note receivable write-down		(8,572)		—		—
Foreign tax reserve		2,081		2,095		2,468
State taxes		400		1,252		935
Change in valuation allowance		(476)		(2,548)		(5,949)
Foreign tax credit expiration		1,820		2,999		6,396
Other, net		3,265		415		1,359
Income tax expense	$	9,536	$	28,148	$	24,137

Schedule of components of income tax expense (benefit)

The components of income tax expense (benefit) for the years ended December 31, 2013, 2014 and 2015 are as follows (in thousands):

\
	2013		2014		2015
Current:
United States—Federal	$	1,703	$	14,761	$	(1,308)
United States—State		895		1,347		(383)
Foreign		11,787		12,153		7,959
Total current income tax expense	$	14,385	$	28,261	$	6,268
Deferred:
United States—Federal	$	(5,273)	$	5,205	$	16,760
United States—State		169		466		1,636
Foreign		255		(5,784)		(527)
Total deferred income tax expense (benefit)		(4,849)		(113)		17,869
Consolidated:
United States—Federal	$	(3,570)	$	19,966	$	15,452
United States—State		1,064		1,813		1,253
Foreign		12,042		6,369		7,432
Total income tax expense	$	9,536	$	28,148	$	24,137

Schedule of significant components of deferred tax assets and liabilities

The significant components of deferred tax assets and liabilities are as follows as of December 31, 2014 and 2015 (in thousands):


	2014		2015
Deferred tax assets:
Receivables reserve	$	1,321	$	702
Temporary differences not currently deductible for tax		8,001		7,236
Deferred compensation		2,019		2,135
Foreign tax credit carryforwards		10,576		4,180
Pension		436		1,153
Net operating losses		4,171		4,463
Valuation allowance		(13,763)		(7,814)
Total deferred tax asset		12,761		12,055
Deferred tax liabilities:
Property, plant and equipment, net	$	27,681	$	43,718
Intangible assets, net		12,021		13,743
Tax on foreign earnings		1,050		—
Total deferred tax liabilities		40,752		57,461
Net deferred tax liabilities	$	27,991	$	45,406

Schedule of deferred tax assets and liabilities

Deferred tax assets and liabilities are reflected in the accompanying consolidated balance sheets as follows (in thousands):


	2014		2015
Deferred tax assets:
Current	$	2,588	$	—
Long term		—		—
Total deferred tax asset	$	2,588	$	—
Deferred tax liabilities:
Current	$	213	$	—
Long term		30,366		45,406
Total deferred tax liabilities	$	30,579	$	45,406
Net deferred tax liabilities	$	27,991	$	45,406

Schedule of activity related to unrecognized tax benefits

The following shows the activity related to unrecognized tax benefits during the three years ended December 31, 2015 (in thousands):


Gross unrecognized tax benefits at December 31, 2012		10,336
Increase in uncertain tax positions		4,137
Lapse in statute of limitations		—
Gross unrecognized tax benefits at December 31, 2013		14,050
Increase in uncertain tax positions		1,675
Lapse in statute of limitations		(226)
Settlements		—
Gross unrecognized uncertain tax benefits at December 31, 2014		15,499
Increase in uncertain tax positions		1,717
Lapse in statute of limitations		—
Settlements		—
Gross unrecognized uncertain tax benefits at December 31, 2015	$	17,216

RETIREMENT PLANS (Tables)

12 Months Ended

Dec. 31, 2015

RETIREMENT PLANS

Schedule of weighted-average rates assumed in the actuarial calculations for the pension plan


	2013		2014		2015
Discount rate	5.75	%	5.75	%	5.75	%
Annual salary increase	7.50	%	6.50	%	6.50	%
Expected long-term return on plan assets	7.00	%	7.00	%	6.50	%

Schedule of changes during the year in the projected benefit obligations and in the fair value of plan assets

Changes during the year in the projected benefit obligations and in the fair value of plan assets are as follows for 2014 and 2015 (in thousands):


	2014		2015
Projected benefit obligations:
Balance at beginning of year:	$	12,237	$	14,093
Service cost		612		652
Interest cost		720		766
Benefits and settlements paid		(623)		(1,329)
Actuarial gain		1,129		218
Exchange rate adjustment		18		-
Balance at end of year	$	14,093	$	14,400
Plan net assets:
Balance at beginning of year:	$	12,673	$	13,165
Actual return on plan assets		267		110
Company contributions		832		-
Benefits and settlements paid		(623)		(1,329)
Exchange rate adjustment		16		-
Balance at end of year	$	13,165	$	11,946
Under funded status of plan	$	(928)	$	(2,454)

Schedule of fair values for the pension plan's net assets, by asset category

The fair values for the pension plan’s net assets, by asset category, at December 31, 2015 are as follows (in thousands):


Asset Category	Total		Level 1		Level 2		Level 3
Cash, cash equivalents, money markets and other	$	9,730	$	7,950	$	1,780	$	—
Equity securities		1,760		1,760		—		—
Fixed income securities		456		456		—		—
Total	$	11,946	$	10,166	$	1,780	$	—

Schedule of weighted-average asset allocations, by asset category


	2014		2015
Cash, cash equivalents, money markets and other	80.0	%	81.5	%
Equity securities	13.0		14.7
Fixed income securities	7.0		3.8
Total	100	%	100	%

Schedule of amounts recognized on the Company's consolidated balance sheets

Amounts recognized on the Company’s consolidated balance sheets consist of (in thousands):


	As of December 31,
	2014		2015
Other Liabilities	$	928	$	2,454
Accumulated other comprehensive loss, net of tax		(2,672)		(3,481)

Schedule of amounts recognized in accumulated other comprehensive loss

Amounts recognized in accumulated other comprehensive loss consist of (in thousands):


	2014		2015
Net actuarial loss	$	(3,148)	$	(5,836)
Accumulated other comprehensive loss, pre-tax	$	(3,148)	$	(5,836)
Accumulated other comprehensive loss, net of tax	$	(2,672)	$	(3,481)

Schedule of components of the plan's net periodic pension cost

Components of the plan’s net periodic pension cost are as follows for the years ended December 31, 2013, 2014 and 2015 (in thousands):


	2013		2014		2015
Service cost	$	543	$	612	$	652
Interest cost		665		720		766
Expected return on plan assets		(949)		(848)		(813)
Amortization of unrecognized net actuarial loss		150		218		245
Net periodic pension cost	$	409	$	702	$	850

Schedule of estimated pension benefits

The following estimated pension benefits, which reflect expected future service, as appropriate, are expected to be paid over the next ten years as indicated below (in thousands):


	Pension
Fiscal Year	Benefits
2016	$	643
2017		667
2018		757
2019		614
2020		800
2021 - 2025		5,286
	$	8,767

COMMITMENTS AND CONTINGENCIES (Tables)

12 Months Ended

Dec. 31, 2015

COMMITMENTS AND CONTINGENCIES

Schedule of the Company's obligation for payments under leases

The Company’s obligations for payments under these leases are as follows at December 31, 2015 (in thousands):


2016		25,046
2017		21,919
2018		16,754
2019		10,080
2020		6,999
Thereafter		13,560
Total obligations under operating leases	$	94,358

SEGMENT REPORTING (Tables)

12 Months Ended

Dec. 31, 2015

SEGMENT REPORTING

Schedule of information for each operating segment (in thousands)

The following tables provide information for each operating segment (in thousands):


For the Year Ended December 31, 2013
			International
	U.S.		Integrated		Island		U.S.		Renewable		Reconciling
	Wireless		Telephony		Wireless		Wireline		Energy		Items		Consolidated
Revenue
U.S. Wireless	$	107,930	$	—	$	—	$	—	$	—	$	—	$	107,930
International Wireless		—		30,334		61,098		—		—		—		91,432
Wireline		610		61,475		—		22,500		—		—		84,585
Equipment and Other		465		1,637		6,555		231		—		—		8,888
Total Revenue		109,005		93,446		67,653		22,731		—		—		292,835
Depreciation and amortization		14,308		17,975		10,305		3,182		—		2,967		48,737
Non-cash stock-based compensation		—		—		—		—		—		4,454		4,454
Operating income (loss)		54,867		27,662		8,610		(1,076)		—		(25,978)		64,085


For the Year Ended December 31, 2014
			International
	U.S.		Integrated		Island		U.S.		Renewable		Reconciling
	Wireless		Telephony		Wireless		Wireline		Energy		Items		Consolidated
Revenue
U.S. Wireless	$	153,040	$	—	$	—	$	—	$	—	$	—	$	153,040
International Wireless		—		26,819		61,831		—		—		—		88,650
Wireline		609		59,129		—		25,546		—		—		85,284
Equipment and Other		943		984		6,744		253		449		—		9,373
Total Revenue		154,592		86,932		68,575		25,799		449		—		336,347
Depreciation and amortization		14,345		17,408		10,671		4,725		105		3,980		51,234
Non-cash stock-based compensation		—		—		—		—		—		4,323		4,323
Operating income (loss)		89,187		19,628		9,046		(3,668)		(2,218)		(26,399)		85,576


For the Year Ended December 31, 2015
			International
	U.S.		Integrated		Island		U.S.		Renewable		Reconciling
	Wireless		Telephony		Wireless		Wireline		Energy		Items		Consolidated
Revenue
U.S. Wireless	$	155,390	$	—	$	—	$	—	$	—	$	—	$	155,390
International Wireless		—		25,706		55,946		—		—		—		81,652
Wireline		613		61,244		—		24,628		—		—		86,485
Renewable energy		—		—		—		—		21,040		—		21,040
Equipment and Other		2,125		1,943		6,504		230		—		—		10,802
Total Revenue		158,128		88,893		62,450		24,858		21,040		—		355,369
Depreciation and amortization		17,605		16,470		8,413		4,635		4,820		4,947		56,890
Non-cash stock-based compensation		—		—		—		—		267		4,708		4,975
Operating income (loss)		78,357		15,738		12,462		(3,898)		6,720		(30,784)		78,595


			International
	U.S.		Integrated		Island		U.S.		Renewable		Reconciling
	Wireless		Telephony		Wireless		Wireline		Energy		Items			Consolidated
December 31, 2014
Net fixed assets	$	79,910	$	108,972	$	26,590	$	28,113	$	111,342	$	14,655		$	369,582
Goodwill		32,148		—		5,438		7,491		—		—			45,077
Total assets		188,377		202,171		74,563		42,446		130,124		287,349	(1)		925,030
December 31, 2015
Net fixed assets	$	89,466	$	110,063	$	23,199	$	30,130	$	106,560	$	14,085		$	373,503
Goodwill		32,148		—		5,438		7,491		—		—			45,077
Total assets		182,669		207,023		71,747		45,038		122,788		315,740			945,004

(1)

Includes $175 of assets associated with our discontinued operations as of December 31, 2014.


		Capital Expenditures
				International
		U.S.		Integrated		Island		U.S.		Renewable		Reconciling
Year ended December 31,		Wireless		Telephony		Wireless		Wireline		Energy		Items		Consolidated
2014	$	33,446	$	10,646	$	6,064	$	4,680	$	—	$	3,464	$	58,300
2015		29,741		14,549		8,255		7,847		38		4,323		64,753

QUARTERLY FINANCIAL DATA (UNAUDITED) (Tables)

12 Months Ended

Dec. 31, 2015

QUARTERLY FINANCIAL DATA (UNAUDITED)

Summary of the Company's quarterly results of operations

Following is a summary of the Company’s quarterly results of operations for the years ended December 31, 2014 and 2015 (in thousands):


	2014 Consolidated for the Three Months Ended
	March 31		June 30		September 30		December 31
Total revenue	$	75,174	$	83,269	$	89,393	$	88,511
Operating expenses		58,926		61,662		61,235		68,948
Income from operations		16,248		21,607		28,158		19,563
Other income (expense), net		(295)		53		325		509
Income from continuing operations before income taxes		15,953		21,660		28,483		20,072
Income taxes		5,552		7,338		9,569		5,689
Income from continuing operations		10,401		14,322		18,914		14,383
Income from discontinued operations:
Income (loss) from discontinued operations, net of tax		—		—		—		—
Gain on sale of discontinued operations, net of tax		—		—		—		1,102
Income from discontinued operations, net of tax		—		—		—		1,102
Net income		10,401		14,322		18,914		15,485
Net income attributable to non-controlling interests, net of tax:
Continuing operations		(2,560)		(2,809)		(2,747)		(2,854)
Discontinued operations		—		—		—		—
Disposal of discontinued operations		—		—		—		—
		(2,560)		(2,809)		(2,747)		(2,854)
Net income attributable to Atlantic Tele-Network, Inc. stockholders		7,841		11,513		16,167		12,631
Net income per weighted average basic share attributable to Atlantic Tele-Network, Inc. stockholders
Continuing operations		0.50		0.72		1.02		0.72
Discontinued operations:
Discontinued operations		—		—		—		—
Gain on sale of discontinued operations		—		—		—		0.07
Total discontinued operations		—		—		—		0.07
Total		0.50		0.72		1.02		0.79
Net income per weighted average diluted share attributable to Atlantic Tele-Network, Inc. stockholders
Continuing operations		0.49		0.72		1.01		0.72
Discontinued operations:
Discontinued operations		—		—		—
Gain on Sale of discontinued operations		—		—		—		0.07
Total discontinued operations		—		—		—		0.07
Total		0.49		0.72		1.01		0.79


	2015 Consolidated for the Three Months Ended
	March 31		June 30		September 30		December 31
Total revenue	$	85,345	$	90,326	$	96,782	$	82,916
Operating expenses		66,187		61,594		74,258		74,735
Income from operations		19,158		28,732		22,524		8,181
Other income (expense), net		(20,528)		(706)		(742)		(418)
Income (Loss)from continuing operations before income taxes		(1,370)		28,026		21,782		7,763
Income taxes		(487)		13,008		10,134		1,482
Income (Loss) from continuing operations		(883)		15,018		11,648		6,281
Income from discontinued operations:
Gain on sale of discontinued operations, net of tax		389		—		—		702
Income from discontinued operations, net of tax		390		—		—		702
Net income		(493)		15,018		11,648		6,983
Net income attributable to non-controlling interests, net of tax:
Continuing operations		(2,777)		(5,568)		(5,072)		(2,799)
Discontinued operations		—		—		—		—
Disposal of discontinued operations		—		—		—		—
		(3,270)		9,450		6,576		4,184
Net income attributable to Atlantic Tele-Network, Inc. stockholders
Net income per weighted average basic share attributable to Atlantic Tele-Network, Inc. stockholders
Continuing operations		(0.18)		0.59		0.41		0.17
Discontinued operations:
Discontinued operations		0.07		—		—		—
Gain on sale of discontinued operations		—		—		—		—
Total discontinued operations		0.07		—		—		—
Total		(0.11)		0.59		0.41		0.17
Net income per weighted average diluted share attributable to Atlantic Tele-Network, Inc. stockholders
Continuing operations		(0.18)		0.59		0.41		0.16
Discontinued operations:
Discontinued operations		0.07		—		—		—
Gain on Sale of discontinued operations		—		—		—		—
Total discontinued operations		0.07		—		—		—
Total		(0.11)		0.59		0.41		0.16

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Reclassifications (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2014	Dec. 31, 2013
Termination and Access Fees [Member]
Prior period corrections
Reclassification, decrease (increase) to expense	$ 14.4	$ 13.7
Engineering and Operations Expenses [Member]
Prior period corrections
Reclassification, decrease (increase) to expense	(11.0)	(9.3)
Equipment Expense [Member]
Prior period corrections
Reclassification, decrease (increase) to expense			$ (0.1)
Selling and Marketing Expense [Member]
Prior period corrections
Reclassification, decrease (increase) to expense	0.5	0.7
General and administrative expense
Prior period corrections
Reclassification, decrease (increase) to expense	$ (4.0)	$ (5.1)

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Disposal (Details) - USD ($) $ in Thousands	3 Months Ended			12 Months Ended
	Dec. 31, 2015	Mar. 31, 2015	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Sep. 20, 2013
Pending Sale Of U.S. Retail Wireless Business
Gain (loss) on sale of assets	$ 702	$ 389	$ 1,102	$ 1,092	$ 1,102	$ 307,102
Alltel Sale \| AT&T Mobility
Pending Sale Of U.S. Retail Wireless Business
Consideration for sale of operations in all-cash transaction							$ 780,000
Working capital					16,828
Gain (loss) on sale of assets					307,102
Additional gain (loss) on sale of assets				$ 1,100	$ 1,100

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Deposits (Details) $ in Millions, $ in Millions	Dec. 31, 2015 GYD ($)	Dec. 31, 2015 USD ($)	Dec. 31, 2014 GYD ($)
Cash
Deposit with non-insured institutions		$ 50.7
Guyanese dollars
Cash
Cash (in GYD)	$ 3.8		$ 1.8

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Fixed Assets (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Fixed assets
Accrued asset retirement obligations	$ 3.0	$ 2.7
Impairment of fixed assets	$ 0.0	$ 0.0	$ 0.0
Minimum
Fixed assets
Useful life	3 years
Maximum
Fixed assets
Useful life	39 years

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Acquired Intangibles (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Intangible assets
Telecommunications license impairment	$ 0.0	$ 0.0
Goodwill impairment	$ 0.0	$ 0.0
Customer relationships \| Maximum
Intangible assets
Estimated life	12 years

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - AOCI (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Accumulated other comprehensive income (loss)
Stockholders' Equity Attributable to Parent, Beginning Balance	$ 677,222
Adjust funded status of pension plan, net of tax of $0.2 and $0.6 million for the years December 31, 2013 and 2014 respectively	(809)	$ (724)	$ (631)
Foreign currency translation adjustment	26	4	(259)
Stockholders' Equity Attributable to Parent, Ending Balance	680,299	677,222
Adjust funded status of pension plan, tax	700	600
Accumulated Other Comprehensive Income/(Loss)
Accumulated other comprehensive income (loss)
Stockholders' Equity Attributable to Parent, Beginning Balance	(2,921)	(2,202)
Adjust funded status of pension plan, net of tax of $0.2 and $0.6 million for the years December 31, 2013 and 2014 respectively	(809)	(723)
Foreign currency translation adjustment	26	4
Stockholders' Equity Attributable to Parent, Ending Balance	(3,704)	(2,921)	(2,202)
Projected Pension Benefit Obligation
Accumulated other comprehensive income (loss)
Stockholders' Equity Attributable to Parent, Beginning Balance	(2,672)	(1,949)
Adjust funded status of pension plan, net of tax of $0.2 and $0.6 million for the years December 31, 2013 and 2014 respectively	(809)	(723)
Stockholders' Equity Attributable to Parent, Ending Balance	(3,481)	(2,672)	(1,949)
Translation Adjustment
Accumulated other comprehensive income (loss)
Stockholders' Equity Attributable to Parent, Beginning Balance	(249)	(253)
Foreign currency translation adjustment	26	4
Stockholders' Equity Attributable to Parent, Ending Balance	$ (223)	$ (249)	$ (253)

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Grants (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Accounting for grants
Amount spent in capital expenditures	$ 64,753	$ 58,300	$ 69,316
Minimum
Accounting for grants
Long-term power purchase agreements term	10 years
Term of depreciation of grant	5 years
Maximum
Accounting for grants
Long-term power purchase agreements term	25 years
Term of depreciation of grant	20 years
Stimulus programs
Accounting for grants
Amount spent in capital expenditures	$ 99,300
Amount that has been funded or will be funded	73,900
Universal Service Fund programs
Accounting for grants
Amount received	7,900	3,900
Amount available to support U.S wireless business relating to high-cost areas	$ 1,300	$ 1,300

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Risk (Details)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Revenues \| Customer concentration \| AT&T
Credit concentrations and significant customers
Percentage of concentration risk	17.00%	26.00%	18.00%
Revenues \| Customer concentration \| Verizon
Credit concentrations and significant customers
Percentage of concentration risk	19.00%	16.00%	13.00%
Accounts receivable \| Credit concentration \| AT&T
Credit concentrations and significant customers
Percentage of concentration risk	17.00%	47.00%
Accounts receivable \| Credit concentration \| Verizon
Credit concentrations and significant customers
Percentage of concentration risk	13.00%	7.00%

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - FV Instruments (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2014 USD ($)	Dec. 31, 2015 USD ($) $ / $	Dec. 31, 2013 $ / $	Dec. 31, 2012 $ / $
Fair value of financial instruments
Value of a Guyana dollar to one U.S. dollar \| $ / $		210	210	205
Foreign currency gain (loss)	$ 1,100
Recurring basis \| Total
Fair value of financial instruments
Certificates of deposit	363	$ 377
Money market funds	1,493	76,263
Total assets measured at fair value	1,856	76,640
Recurring basis \| Level 1
Fair value of financial instruments
Money market funds	1,493	76,263
Total assets measured at fair value	1,493	76,263
Recurring basis \| Level 2
Fair value of financial instruments
Certificates of deposit	363	377
Total assets measured at fair value	$ 363	$ 377

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Other Fair Value Disclosures (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Long-term debt, fair value	$ 32,860	$ 38,877

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Antidilution (Details) - shares shares in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Anti-dilutive common shares not included for computation of earnings per share
Anti-dilutive potential shares excluded from the computation of diluted weighted average shares outstanding (in shares)	2		61
Basic weighted-average common shares outstanding	16,022	15,898	15,704
Stock options (in shares)	120	115	113
Diluted weighted-average common shares outstanding	16,142	16,013	15,817
Stock options
Anti-dilutive common shares not included for computation of earnings per share
Anti-dilutive potential shares excluded from the computation of diluted weighted average shares outstanding (in shares)	2		61

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Stock-Based Compensation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Stock-based compensation
Non-cash stock-based compensation	$ 4,975	$ 4,323	$ 4,454
Stock options
Stock-based compensation
Options granted (in shares)	5,000
Non-cash stock-based compensation	$ 400	900	$ 1,400
Vesting period	4 years
Restricted Stock
Stock-based compensation
Options granted (in shares)	93,864		100,902
Non-cash stock-based compensation	$ 4,300	$ 3,400	$ 3,100
Restricted shares of common stock issued (in shares)	93,864	109,318
Vesting period	4 years
Ahana Renewables
Stock-based compensation
Non-cash stock-based compensation	$ 300

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Recent Accounting Pronouncements (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Current deferred tax assets		$ 2,588
Current deferred tax liabilities		$ 213
Accounting Standards Update 2015-17 [Member] \| Reclassification to Noncurrent [Member]
Current deferred tax assets	$ 3,900
Current deferred tax liabilities	$ 200

ACQUISITIONS (Details) - USD ($) $ in Thousands				12 Months Ended
ACQUISITIONS (Details) - USD ($) $ in Thousands	Oct. 06, 2015	Sep. 30, 2015	Dec. 24, 2014	Dec. 31, 2015
CellOne [Member]
Acquisitions
Ownership percentage	43.00%
Ownership interest held by minority shareholders	15.00%
Innovative [Member]
Acquisitions
Purchase price		$ 145,000
Loan amount		60,000
Remaining purchase price		$ 85,000
KeyTech [Member]
Acquisitions
Ownership percentage	51.00%
Cash consideration	$ 42,000
KeyTech [Member] \| CellOne [Member]
Acquisitions
Ownership percentage	85.00%
Ahana Renewables
Acquisitions
Purchase price			$ 78,782
Period of placed in service date for solar assets				5 years
Ahana Renewables \| Minimum
Acquisitions
Period to receive return on investment				2 years
Ahana Renewables \| Maximum
Acquisitions
Period to receive return on investment				4 years
Green Lake
Acquisitions
Purchase price			117,700
Cash consideration			66,300
Cash and restricted cash reimbursed and applied against total consideration due			12,500
Assumed debt			$ 38,900

ACQUISITIONS - Purchase Price Allocation (Details) - USD ($) $ in Thousands		3 Months Ended								12 Months Ended
	Dec. 24, 2014	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Purchase price allocation:
Revenue		$ 82,916	$ 96,782	$ 90,326	$ 85,345	$ 88,511	$ 89,393	$ 83,269	$ 75,174	$ 355,369	$ 336,347	$ 292,835
Ahana Renewables
Business Acquisition [Line Items]
Total consideration	$ 78,782
Purchase price allocation:
Cash	6,571
Other current assets	2,011
Plant and equipment	111,446
Restricted cash	5,884
Current liabilities	(853)
Long-term debt	(38,877)
Non-controlling interests	(7,400)
Net assets acquired	$ 78,782
Weighted average tax rate percentage	40.00%
Discounted rate used for cash flows	11.75%
Revenue										21,000	400
External acquisition related charges relating to legal, accounting and consulting services.		$ 4,000				$ 2,500				$ 4,000	$ 2,500
Solar assets \| Ahana Renewables
Purchase price allocation:
Useful life										25 years
Discounted rate used for solar assets	8.00%

DISCONTINUED OPERATIONS - SALE OF U.S. RETAIL WIRELESS BUSINESS (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended			12 Months Ended
	Mar. 31, 2015	Dec. 31, 2015	Mar. 31, 2015	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Sep. 20, 2013
Proceeds:
Current assets		$ 468,492		$ 451,374	$ 468,492	$ 451,374
Property, plant and equipment, net		373,503		369,582	373,503	369,582
Telecommunication licenses, net		43,468		44,090	43,468	44,090
Other assets		7,489		7,519	7,489	7,519
Liabilities sold:
Current liabilities		(84,355)		(104,069)	(84,355)	(104,069)
Other liabilities		(26,944)		(19,619)	(26,944)	(19,619)
Net gain on sale		702	$ 389	1,102	1,092	1,102	$ 307,102
Restricted cash, current		824		39,703	824	39,703
Restricted cash, long-term		5,477		5,475	5,477	5,475
Impairment of intangible assets					0	0
Minority shareholders' interests in sale of operations							28,899
Amount distributed to minority shareholders					16,514	16,331	26,155
Amount included in non-controlling interests		81,425		60,960	81,425	60,960
Revenues and income from discontinued operations
Revenue from discontinued operations								$ 299,519
Income from discontinued operations, net of tax expense of $2,512							5,166	$ 5,166
AT&T Mobility \| Trade names \| Alltel Wireless
Liabilities sold:
Impairment of intangible assets						11,900
Alltel Sale \| AT&T Mobility
SALE OF U.S. RETAIL WIRELESS BUSINESS
Consideration for sale of operations in all-cash transaction									$ 780,000
Proceeds:
Significant Acquisitions and Disposals, Acquisition Costs or Sale Proceeds									780,000
Received						702,000
Escrowed						78,000
Working capital						16,828
Adjusted proceeds						796,828
Current assets				51,597		51,597
Property, plant and equipment, net				190,970		190,970
Telecommunication licenses, net				50,553		50,553
Other intangible assets				37,434		37,434
Other assets				13,202		13,202
Liabilities sold:
Current liabilities				(40,674)		(40,674)
Other liabilities				(22,796)		(22,796)
Net assets sold or impaired				280,286		280,286
Less: Transaction related costs						(13,517)
Pre-tax gain						503,025
Less: Income taxes at effective rate						195,923
Net gain on sale						307,102
Additional gain (loss) on sale of assets					1,100	1,100
Restricted cash, current		39,000			39,000
Indemnity escrow released	$ 39,000
Minority shareholders' interests in sale of operations					28,900
Amount distributed to minority shareholders					4,100	5,800	$ 18,900
Amount included in non-controlling interests		$ 400		$ 4,500	$ 400	4,500
Revenues and income from discontinued operations
Income from discontinued operations, tax expense (benefit)						$ 2,512
Alltel Sale \| AT&T Mobility \| Alltel Wireless
SALE OF U.S. RETAIL WIRELESS BUSINESS
Consideration for sale of operations in all-cash transaction									780,000
Proceeds:
Significant Acquisitions and Disposals, Acquisition Costs or Sale Proceeds									$ 780,000

LOSS ON DECONSOLIDATION OF SUBSIDIARY (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Mar. 31, 2015	Dec. 31, 2015
Loss on deconsolidation of subsidiary		$ 19,937
Deconsolidation of non-controlling interests		$ (20,013)
Island Wireless \| Disposal Group, Disposed of by Sale, Not Discontinued Operations [Member]
Deconsolidation of non-controlling interests	$ 20,000
Gain arising from excess of proceeds over the carrying value of net assets	$ 100

ACCOUNTS RECEIVABLE (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
ACCOUNTS RECEIVABLE
Accounts receivable	$ 48,314	$ 64,217
Less: allowance for doubtful accounts	(9,294)	(11,344)
Total accounts receivable, net	39,020	52,873
U.S. wireless, Retail
ACCOUNTS RECEIVABLE
Accounts receivable	23,805	21,367
U.S. wireless, Wholesale
ACCOUNTS RECEIVABLE
Accounts receivable	24,341	41,245
Other
ACCOUNTS RECEIVABLE
Accounts receivable	$ 168	$ 1,605

FIXED ASSETS (Details) - USD ($) $ in Thousands	12 Months Ended
FIXED ASSETS (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Fixed Assets
Total plant in service	$ 766,144	$ 719,435
Total property, plant, and equipment	807,247	763,417
Less: Accumulated depreciation	(433,744)	(393,835)
Net fixed assets	373,503	369,582
Depreciation and amortization	55,900	50,300	$ 48,300
Capital expenditures offset by grants	$ 2,600	2,300	$ 31,600
Minimum
Fixed Assets
Useful Life	3 years
Maximum
Fixed Assets
Useful Life	39 years
Telecommunications equipment and towers
Fixed Assets
Total plant in service	$ 553,237	$ 514,814
Telecommunications equipment and towers \| Minimum
Fixed Assets
Useful Life	5 years	5 years
Telecommunications equipment and towers \| Maximum
Fixed Assets
Useful Life	15 years	15 years
Solar assets
Fixed Assets
Total plant in service	$ 111,446	$ 111,446
Solar assets \| Minimum
Fixed Assets
Useful Life	20 years	20 years
Solar assets \| Maximum
Fixed Assets
Useful Life	23 years	23 years
Office and computer equipment
Fixed Assets
Total plant in service	$ 54,665	$ 46,757
Office and computer equipment \| Minimum
Fixed Assets
Useful Life	3 years	3 years
Office and computer equipment \| Maximum
Fixed Assets
Useful Life	10 years	10 years
Buildings
Fixed Assets
Total plant in service	$ 18,540	$ 18,079
Buildings \| Minimum
Fixed Assets
Useful Life	15 years	15 years
Buildings \| Maximum
Fixed Assets
Useful Life	39 years	39 years
Transportation vehicles
Fixed Assets
Total plant in service	$ 8,882	$ 7,589
Transportation vehicles \| Minimum
Fixed Assets
Useful Life	3 years	3 years
Transportation vehicles \| Maximum
Fixed Assets
Useful Life	10 years	10 years
Leasehold improvements
Fixed Assets
Total plant in service	$ 11,592	$ 11,494
Land
Fixed Assets
Total plant in service	1,198	1,146
Furniture and fixtures
Fixed Assets
Total plant in service	$ 6,584	$ 8,110
Furniture and fixtures \| Minimum
Fixed Assets
Useful Life	5 years	5 years
Furniture and fixtures \| Maximum
Fixed Assets
Useful Life	10 years	10 years
Construction in progress
Fixed Assets
Total property, plant, and equipment	$ 41,103	$ 43,982

GOODWILL AND INTANGIBLE ASSETS - Goodwill (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
GOODWILL AND INTANGIBLE ASSETS
Impairment charge	$ 0	$ 0
Changes in the carrying amounts of goodwill	0	0
Goodwill balance	$ 45,077	$ 45,077

GOODWILL AND INTANGIBLE ASSETS - Change In Carrying Amount Of Telecommunications Licenses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Telecommunications licenses
Impairment of intangible assets	$ 0	$ 0
Changes in the carrying amount of the company's telecommunications licenses, by operating segment
Balance at the beginning of the period	44,090
Balance at the end of the period	43,468	44,090
Telecommunications Licenses
Telecommunications licenses
Impairment of intangible assets	0	0
Changes in the carrying amount of the company's telecommunications licenses, by operating segment
Balance at the beginning of the period	44,090	39,687
Acquired licenses		5,025
Amortization	(622)	(622)
Balance at the end of the period	43,468	44,090
Telecommunications Licenses \| U.S. Wireless
Changes in the carrying amount of the company's telecommunications licenses, by operating segment
Balance at the beginning of the period	24,913	19,888
Acquired licenses		5,025
Balance at the end of the period	24,913	24,913
Telecommunications Licenses \| U.S. Wireline
Changes in the carrying amount of the company's telecommunications licenses, by operating segment
Balance at the beginning of the period	31	31
Balance at the end of the period	31	31
Telecommunications Licenses \| Island Wireless
Changes in the carrying amount of the company's telecommunications licenses, by operating segment
Balance at the beginning of the period	19,146	19,768
Amortization	(622)	(622)
Balance at the end of the period	$ 18,524	$ 19,146

GOODWILL AND INTANGIBLE ASSETS - Customer Relationships (Details) - Customer relationships - Island Wireless - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Finite-lived intangible assets
Amortization	$ 400	$ 400	$ 400
Future Amortization
2016	309
2017	276
2018	200
2019	145
2020	111
Thereafter	40
Total	$ 1,081

LONG-TERM DEBT (Details) - USD ($) $ in Thousands			12 Months Ended			16 Months Ended
LONG-TERM DEBT (Details) - USD ($) $ in Thousands	Nov. 14, 2013	Jun. 17, 2013	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Sep. 20, 2013	Dec. 19, 2014	Aug. 31, 2013
Long-term debt
Total long-term debt			$ 26,575	$ 32,794
Amended Credit Facility [Member]
Long-term debt
Borrowings			0
Amended Credit Facility [Member] \| Universal Service Administrative Company
Long-term debt
Outstanding letters of credit		$ 29,800
Ahana Debt
Long-term debt
Outstanding debt			$ 32,900
Term loans
Long-term debt
Interest expenses				$ 4,700
Term loans \| Credit facility \| One-week LIBOR
Long-term debt
Basis spread on variable rate (as a percent)						1.50%
Term loans \| Credit facility \| One-month LIBOR
Long-term debt
Basis spread on variable rate (as a percent)						1.50%
Term loans \| Credit facility \| Minimum \| LIBOR
Long-term debt
Basis spread on variable rate (as a percent)						2.00%
Term loans \| Credit facility \| Minimum \| Base rate
Long-term debt
Basis spread on variable rate (as a percent)						1.00%
Term loans \| Credit facility \| Maximum \| LIBOR
Long-term debt
Basis spread on variable rate (as a percent)						4.00%
Term loans \| Credit facility \| Maximum \| Base rate
Long-term debt
Basis spread on variable rate (as a percent)						3.00%
Revolving credit facility \| Credit facility \| Minimum
Long-term debt
Commitment fee (as a percent)				0.25%
Revolving credit facility \| Credit facility \| Minimum \| LIBOR
Long-term debt
Basis spread on variable rate (as a percent)				2.00%
Revolving credit facility \| Credit facility \| Minimum \| Base rate
Long-term debt
Basis spread on variable rate (as a percent)				1.00%
Revolving credit facility \| Credit facility \| Maximum
Long-term debt
Commitment fee (as a percent)				0.50%
Revolving credit facility \| Credit facility \| Maximum \| LIBOR
Long-term debt
Basis spread on variable rate (as a percent)				3.50%
Revolving credit facility \| Credit facility \| Maximum \| Base rate
Long-term debt
Basis spread on variable rate (as a percent)				2.50%
Revolving credit facility \| Amended Credit Facility [Member]
Long-term debt
Maximum borrowing capacity							$ 225,000
Revolving credit facility \| Amended Credit Facility [Member] \| Minimum
Long-term debt
Commitment fee (as a percent)			0.175%
Revolving credit facility \| Amended Credit Facility [Member] \| Minimum \| LIBOR
Long-term debt
Basis spread on variable rate (as a percent)			1.50%
Revolving credit facility \| Amended Credit Facility [Member] \| Minimum \| Base rate
Long-term debt
Basis spread on variable rate (as a percent)			0.50%
Revolving credit facility \| Amended Credit Facility [Member] \| Maximum
Long-term debt
Commitment fee (as a percent)			0.25%
Revolving credit facility \| Amended Credit Facility [Member] \| Maximum \| LIBOR
Long-term debt
Basis spread on variable rate (as a percent)			1.75%
Revolving credit facility \| Amended Credit Facility [Member] \| Maximum \| Base rate
Long-term debt
Basis spread on variable rate (as a percent)			0.75%
Swingline sub-facility \| Minimum \| Base rate
Long-term debt
Basis spread on variable rate (as a percent)			0.50%
Swingline sub-facility \| Credit facility \| Minimum \| Base rate
Long-term debt
Basis spread on variable rate (as a percent)				0.50%
Swingline sub-facility \| Credit facility \| Maximum \| Base rate
Long-term debt
Basis spread on variable rate (as a percent)				2.00%
Swingline sub-facility \| Amended Credit Facility [Member]
Long-term debt
Maximum borrowing capacity							10,000
Swingline sub-facility \| Amended Credit Facility [Member] \| Minimum \| Base rate
Long-term debt
Basis spread on variable rate (as a percent)			1.00%
Letter of credit sub-facility
Long-term debt
Outstanding letters of credit			$ 10,600					$ 10,600
Letter of credit sub-facility \| Alltel Mobility Funds
Long-term debt
Termination of facility	$ 19,900
Letter of credit sub-facility \| Amended Credit Facility [Member]
Long-term debt
Maximum borrowing capacity			55,000
Commitment fee (as a percent)					1.75%
Letter of credit sub-facility \| Amended Credit Facility [Member] \| Universal Service Administrative Company
Long-term debt
Outstanding letters of credit					$ 9,900
Letter of credit sub-facility \| Amended Credit Facility [Member] \| Alltel Mobility Funds
Long-term debt
Maximum borrowing capacity							$ 25,000
Amount of pending awards of mobility fund grants		$ 68,800
Ahana Renewables
Long-term debt
Long-term debt			$ 38,900
Ahana Renewables \| Public Service Electric & Gas
Long-term debt
Effective interest rate (as a percent)			11.30%
Ahana Renewables \| Minimum
Long-term debt
Effective interest rate (as a percent)			4.50%
Ahana Renewables \| Maximum
Long-term debt
Effective interest rate (as a percent)			6.00%

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES - Narrative (Details) $ in Millions	Sep. 20, 2013 USD ($)
Interest rate derivative
Derivative instruments and hedging activities
Payment made to counterparties for termination of derivatives	$ 5.4

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES - Derivative Financial Instruments (Details) - Interest rate derivative - Designated as cash flow hedges $ in Thousands	12 Months Ended
	Dec. 31, 2013 USD ($)
Derivative instruments and hedging activities
Amount of Gain or (Loss) Recognized in Other Comprehensive Income on Derivative (Effective Portion)	$ 6,255
Amount of Gain or (Loss) Reclassified from Accumulated Other Comprehensive Income into Income (Effective Portion)	$ 764

GOVERNMENT GRANTS (Details) $ in Millions		1 Months Ended		12 Months Ended
GOVERNMENT GRANTS (Details) $ in Millions	Nov. 14, 2013 USD ($)	Oct. 31, 2014 USD ($)	Aug. 31, 2013 USD ($)	Dec. 31, 2015 USD ($) item
MOBILITY FUND GRANTS
Number of new funds created by FCC \| item				2
Period over which a portion of the Mobility Funds is used to offset the costs of supporting the networks				5 years
Letter of credit sub-facility
MOBILITY FUND GRANTS
Letters of credit posted to USAC			$ 10.6	$ 10.6
Alltel Mobility Funds \| Letter of credit sub-facility
MOBILITY FUND GRANTS
Amount terminated	$ 19.9
Wholesale Mobility Funds
MOBILITY FUND GRANTS
Mobility Funds approved by FCC		$ 2.4	$ 21.7
Wholesale Mobility Funds \| U.S. Wireless
MOBILITY FUND GRANTS
Mobility Funds received				8.1
Wholesale Mobility Funds \| U.S. Wireless \| Operating Expenses [Member]
MOBILITY FUND GRANTS
Grant funds used to offset fixed asset related costs				1.0
Wholesale Mobility Funds \| U.S. Wireless \| Property, Plant and Equipment [Member]
MOBILITY FUND GRANTS
Grant funds used to offset fixed asset related costs				3.4
Wholesale Mobility Funds \| U.S. Wireless \| Other current liabilities
MOBILITY FUND GRANTS
Mobility Funds received				4.6
Wholesale Mobility Funds \| U.S. Wireless \| Other long-term liabilities
MOBILITY FUND GRANTS
Mobility Funds received				0.1
Stimulus Grants [Member] \| New York, Parts of Pennsylvania and Vermont
MOBILITY FUND GRANTS
Capital expenditures				35.8
Expenditures funded by stimulus grants				27.5
Stimulus Grants [Member] \| Navajo Nation
MOBILITY FUND GRANTS
Capital expenditures				7.6
Expenditures funded by stimulus grants				5.3
Stimulus Grants [Member] \| Vermont
MOBILITY FUND GRANTS
Capital expenditures				47.9
Expenditures funded by stimulus grants				$ 33.0

EQUITY (Details) - USD ($)	12 Months Ended
EQUITY (Details) - USD ($)	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Stock-based compensation
Number of shares reserved to be granted under the plan	2,000,000
Number of Options
Exercised (in shares)	(87,378)	(43,034)	(303,536)
Treasury Stock
Shares Repurchased	37,567	34,293	163,222
Aggregate Cost	$ 2,705,000	$ 2,160,000	$ 8,103,000
Average Repurchase Price (in dollars per share)	$ 72.01	$ 63.01	$ 49.64
Stock options
Stock-based compensation
Expiration term	10 years
Vesting period	4 years
Number of Options
Outstanding at the beginning of the period (in shares)	351,253	401,287
Granted (in shares)	5,000
Exercised (in shares)	(87,378)	(43,034)
Forfeited- Unvested (in shares)		(7,000)
Outstanding at the end of the period (in shares)	268,875	351,253	401,287
Vested and expected to vest at the end of the period (in shares)	268,011	351,142
Exercisable at the end of the period (in shares)	248,875	290,128
Weighted Avg. Exercise Price
Outstanding at the beginning of the period (in dollars per share)	$ 36.55	$ 36.63
Granted (in dollars per share)	71.43
Exercised (in dollars per share)	32.14	37.68
Forfeited- Unvested (in dollars per share)		34.22
Outstanding at the end of the period (in dollars per share)	38.64	36.55	$ 36.63
Vested and expected to vest at the end of the period (in dollars per share)	38.53	36.56
Exercisable at the end of the period (in dollars per share)	$ 38.05	$ 36.81
Weighted Average Remaining Contractual Term
Outstanding	4 years 8 months 12 days	5 years
Vested and expected to vest	4 years 8 months 12 days	5 years
Exercisable	4 years 6 months	4 years 7 months 6 days
Aggregate Intrinsic Value
Outstanding	$ 10,646,006	$ 10,901,529
Vested and expected to vest	10,640,134	10,987,590
Exercisable	9,998,956	8,929,815
Unamortized stock based compensation
Unamortized stock based compensation	$ 200,000
Weighted-average period for recognition of unamortized stock-based compensation cost	2 years 7 months 10 days
Stock-based compensation, additional disclosures
Weighted-average fair value of options granted (in dollars per share)	$ 30.70
Aggregate intrinsic value of options exercised	$ 3,488,000	1,098,000	$ 6,111,000
Cash proceeds received upon exercise of options	1,999,000	1,621,000	2,669,000
Excess tax benefits from share-based compensation	$ 1,423,000	513,000	2,101,000
Weighted-average assumptions using Black-Scholes option-pricing model for estimating fair value of each option granted
Risk-free interest rate (as a percent)	1.55%
Expected dividend yield (as a percent)	1.76%
Expected life	6 years 3 months
Expected volatility (as a percent)	51.85%
Stock compensation expense
Stock compensation expense	$ 400,000	900,000	$ 1,400,000
Restricted Stock
Stock-based compensation
Vesting period	4 years
Number of Options
Granted (in shares)	93,864		100,902
Unamortized stock based compensation
Unamortized stock based compensation	$ 9,400,000
Weighted-average period for recognition of unamortized stock-based compensation cost	2 years 7 months 6 days
Stock compensation expense
Stock compensation expense	$ 4,300,000	$ 3,400,000	$ 3,100,000
Shares
Unvested at the beginning of the period (in shares)	195,143	154,519
Granted (in shares)	93,864	109,318
Forfeited (in shares)	(1,687)	(8,500)
Vested and issued (in shares)	(68,919)	(60,194)
Unvested at the end of the period (in shares)	218,401	195,143	154,519
Weighted Avg. Fair Value
Unvested at the beginning of the period (in dollars per share)	$ 55.13	$ 44.04
Granted (in dollars per share)	66.26	64.73
Forfeited (in dollars per share)	65.18	51.44
Vested and issued (in dollars per share)	52.70	44.61
Unvested at the end of the period (in dollars per share)	$ 60.60	$ 55.13	$ 44.04
2008 Equity Incentive Plan \| Restricted Stock
Stock-based compensation
Vesting period	4 years

INCOME TAXES - Components of Income Before Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Components of income before income taxes
Domestic									$ 50,563	$ 57,767	$ 13,697
Foreign									5,638	28,401	32,776
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES	$ 7,763	$ 21,782	$ 28,026	$ (1,370)	$ 20,072	$ 28,483	$ 21,660	$ 15,953	$ 56,201	$ 86,168	$ 46,473

INCOME TAXES - Income Tax Reconciliation (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Reconciliation from the tax computed at statutory income tax rates to the Company's income tax expense
Tax computed at statutory U.S. federal income tax rates									$ 19,652	$ 30,160	$ 16,270
Non-controlling interest									(2,807)	(1,229)	(2,750)
Foreign tax reserve									2,468	2,095	2,081
State taxes									935	1,252	400
Change in valuation allowance									(5,949)	(2,548)	(476)
Foreign tax credit expiration									6,396	2,999	1,820
Other, net									1,359	415	3,265
Income tax expense	$ 1,482	$ 10,134	$ 13,008	$ (487)	$ 5,689	$ 9,569	$ 7,338	$ 5,552	24,137	28,148	9,536
Guyana
Reconciliation from the tax computed at statutory income tax rates to the Company's income tax expense
Income taxes in excess (below) of statutory U.S. tax rates									379	(284)	701
Bermuda and Turks & Caicos
Reconciliation from the tax computed at statutory income tax rates to the Company's income tax expense
Income taxes in excess (below) of statutory U.S. tax rates									$ 1,704	$ (4,712)	(3,203)
Turks & Caicos intercompany note receivable write-down
Reconciliation from the tax computed at statutory income tax rates to the Company's income tax expense
Income taxes in excess (below) of statutory U.S. tax rates											$ (8,572)

INCOME TAXES - Components Of Income Tax Expense (Benefit) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Current:
United States-Federal									$ (1,308)	$ 14,761	$ 1,703
United States-State									(383)	1,347	895
Foreign									7,959	12,153	11,787
Total current income tax expense									6,268	28,261	14,385
Deferred:
United States-Federal									16,760	5,205	(5,273)
United States-State									1,636	466	169
Foreign									(527)	(5,784)	255
Total deferred income tax expense (benefit)									17,869	(113)	(4,849)
Consolidated:
United States-Federal									15,452	19,966	(3,570)
United States-State									1,253	1,813	1,064
Foreign									7,432	6,369	12,042
Income tax expense	$ 1,482	$ 10,134	$ 13,008	$ (487)	$ 5,689	$ 9,569	$ 7,338	$ 5,552	24,137	28,148	$ 9,536
Deferred tax assets:
Receivables reserve	702				1,321				702	1,321
Temporary differences not currently deductible for tax	7,236				8,001				7,236	8,001
Deferred compensation	2,135				2,019				2,135	2,019
Foreign tax credit carryforwards	4,180				10,576				4,180	10,576
Pension	1,153				436				1,153	436
Net operating losses	4,463				4,171				4,463	4,171
Valuation allowance	(7,814)				(13,763)				(7,814)	(13,763)
Total deferred tax asset	12,055				12,761				12,055	12,761
Deferred tax liabilities:
Property, plant and equipment, net	43,718				27,681				43,718	27,681
Intangible assets, net	13,743				12,021				13,743	12,021
Tax on foreign earnings					1,050					1,050
Total deferred tax liabilities	57,461				40,752				57,461	40,752
Net deferred tax liabilities	45,406				27,991				45,406	27,991
Deferred tax assets:
Current					2,588					2,588
Total deferred tax asset					2,588					2,588
Deferred tax liabilities:
Current					213					213
Long term	45,406				30,366				45,406	30,366
Total deferred tax liability	45,406				30,579				45,406	30,579
Net deferred tax liabilities	45,406				27,991				45,406	$ 27,991
Period of cumulative loss										3 years
State
Deferred tax liabilities:
Net operating loss carryforwards	40,700								40,700
NOL carryforward valuation allowance	2,000				1,700				2,000	$ 1,700
Foreign
Deferred tax liabilities:
Net operating loss carryforwards	8,600								8,600
NOL carryforward valuation allowance	1,700				$ 1,400				1,700	$ 1,400
Tax credit carryforwards that expired during the period	6,300								6,300
Undistributed earnings of foreign subsidiaries considered indefinitely reinvested	156,900								156,900
Foreign \| Aruba
Deferred tax liabilities:
Net operating loss carryforwards	$ 5,500								$ 5,500

INCOME TAXES - Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Activity related to unrecognized tax benefits
Gross unrecognized tax benefits at the beginning of the period	$ 15,499	$ 14,050	$ 10,336
Increase in uncertain tax positions	1,717	1,675	4,137
Lapse in statute of limitations		(226)
Gross unrecognized tax benefits at the end of the period	$ 17,216	$ 15,499	$ 14,050

RETIREMENT PLANS (Details) - Pension plans for GT&T employees - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Retirement plans
Employment period or credited service period for which participants' average salary or hourly wages is used as a base to calculate benefits	3 years
Weighted-average rates assumed in the actuarial calculations for the pension plan
Discount rate (as a percent)				5.75%	5.75%	5.75%
Annual salary increase (as a percent)				6.50%	6.50%	7.50%
Expected long-term return on plan assets (as a percent)	6.50%	7.00%	7.00%
Projected benefit obligations:
Balance at beginning of year	$ 14,093,000	$ 12,237,000
Service cost	652,000	612,000	$ 543,000
Interest cost	766,000	720,000	665,000
Benefits and settlements paid	(1,329,000)	(623,000)
Actuarial gain	218,000	1,129,000
Exchange rate adjustment		18,000
Balance at end of year	14,400,000	14,093,000	12,237,000
Plan net assets:
Balance at beginning of year	13,165,000	12,673,000
Actual return on plan assets	110,000	267,000
Company contributions		832,000
Benefits and settlements paid	(1,329,000)	(623,000)
Exchange rate adjustment		16,000
Balance at end of year	11,946,000	13,165,000	12,673,000
Funded status of plan
Under funded status of plan				$ (2,454,000)	$ (928,000)
Pension plan assets
Fair value of plan assets	13,165,000	12,673,000	12,673,000	$ 11,946,000	$ 13,165,000	$ 12,673,000
Weighted-average asset allocations (as a percent)				100.00%	100.00%
Amounts recognized on the consolidated balance sheets
Other Liabilities				$ 2,454,000	$ 928,000
Accumulated other comprehensive loss, net of tax				(3,481,000)	(2,672,000)
Amounts recognized in accumulated other comprehensive loss
Net actuarial loss				(5,836,000)	(3,148,000)
Accumulated Other Comprehensive Income (Loss), before Tax, Total				(5,836,000)	(3,148,000)
Accumulated other comprehensive loss, net of tax				(3,481,000)	$ (2,672,000)
Components of the plan's net periodic pension cost
Service cost	652,000	612,000	543,000
Interest cost	766,000	720,000	665,000
Expected return on plan assets	(813,000)	(848,000)	(949,000)
Amortization of unrecognized net actuarial loss	245,000	218,000	150,000
Net periodic pension cost	850,000	$ 702,000	$ 409,000
Additional disclosure
Expected contribution in 2016	$ 586
Estimated Pension Benefits
2016				643,000
2017				667,000
2018				757,000
2019				614,000
2020				800,000
2021-2025				5,286,000
Total				8,767,000
Minimum
Funded status of plan
Percentage of plan assets to be invested within Guyana	70.00%
Maximum
Funded status of plan
Percentage of plan assets to be invested within Guyana	80.00%
Level 1
Plan net assets:
Balance at end of year	$ 10,166,000
Pension plan assets
Fair value of plan assets	10,166,000			10,166,000
Level 2
Plan net assets:
Balance at end of year	1,780,000
Pension plan assets
Fair value of plan assets	1,780,000			1,780,000
Cash, cash equivalents, money markets and other
Plan net assets:
Balance at end of year	9,730,000
Pension plan assets
Fair value of plan assets	9,730,000			$ 9,730,000
Weighted-average asset allocations (as a percent)				81.50%	80.00%
Cash, cash equivalents, money markets and other \| Level 1
Plan net assets:
Balance at end of year	7,950,000
Pension plan assets
Fair value of plan assets	7,950,000			$ 7,950,000
Cash, cash equivalents, money markets and other \| Level 2
Plan net assets:
Balance at end of year	1,780,000
Pension plan assets
Fair value of plan assets	1,780,000			1,780,000
Equity securities
Plan net assets:
Balance at end of year	1,760,000
Pension plan assets
Fair value of plan assets	1,760,000			$ 1,760,000
Weighted-average asset allocations (as a percent)				14.70%	13.00%
Equity securities \| Level 1
Plan net assets:
Balance at end of year	1,760,000
Pension plan assets
Fair value of plan assets	1,760,000			$ 1,760,000
Fixed income securities
Plan net assets:
Balance at end of year	456,000
Pension plan assets
Fair value of plan assets	456,000			$ 456,000
Weighted-average asset allocations (as a percent)				3.80%	7.00%
Fixed income securities \| Level 1
Plan net assets:
Balance at end of year	456,000
Pension plan assets
Fair value of plan assets	$ 456,000			$ 456,000

COMMITMENTS AND CONTINGENCIES - Narrative (Details) ƒ in Millions, $ in Millions				1 Months Ended					12 Months Ended
	Nov. 14, 2013 USD ($)	Jun. 17, 2013 USD ($)	Feb. 17, 2010 USD ($)	Oct. 31, 2014 USD ($)	Jan. 31, 2014 AWG (ƒ)	Jan. 31, 2014 USD ($)	Aug. 31, 2013 USD ($)	Nov. 30, 2007 USD ($)	Dec. 31, 2015 USD ($) item	Dec. 31, 2013 USD ($)	Dec. 31, 2011 USD ($)	Jan. 11, 2016 USD ($)	Jan. 10, 2016 USD ($)	Dec. 19, 2014 USD ($)
Commitments and contingencies
Number of new funds created by FCC \| item									2
Period over which a portion of the Mobility Funds is used to offset the costs of supporting the networks									5 years
Renewal fee of telecommunications license					ƒ 7.2	$ 4.0
Contingency related to spectrum fees
Commitments and contingencies
Spectrum fees paid											$ 2.6
Amended Credit Facility [Member] \| Subsequent Event [Member]
Commitments and contingencies
Maximum borrowing capacity												$ 400.0	$ 275.0
Letter of credit sub-facility
Commitments and contingencies
Letters of credit posted to USAC							$ 10.6		$ 10.6
Outstanding letters of credit							10.6		10.6
Letter of credit sub-facility \| Amended Credit Facility [Member]
Commitments and contingencies
Maximum borrowing capacity									$ 55.0
Commitment fee (as a percent)										1.75%
Alltel Mobility Funds \| Letter of credit sub-facility
Commitments and contingencies
Termination of facility	$ 19.9
Alltel Mobility Funds \| Letter of credit sub-facility \| Amended Credit Facility [Member]
Commitments and contingencies
Maximum borrowing capacity														$ 25.0
Amount of pending awards of mobility fund grants		$ 68.8
Wholesale Mobility Funds
Commitments and contingencies
Mobility Funds approved by FCC				$ 2.4			$ 21.7
Universal Service Administrative Company \| Amended Credit Facility [Member]
Commitments and contingencies
Letters of credit posted to USAC		29.8
Outstanding letters of credit		$ 29.8
Universal Service Administrative Company \| Letter of credit sub-facility \| Amended Credit Facility [Member]
Commitments and contingencies
Letters of credit posted to USAC										$ 9.9
Outstanding letters of credit										$ 9.9
Lawsuit filed by CTL \| Minimum
Commitments and contingencies
Damages asserted								$ 200.0
Litigation proceedings and disputes in Guyana
Commitments and contingencies
Period for which litigation proceedings and other disputes have not been the subject of discussions or other significant activity									5 years
Lawsuit filed by GT&T against Digicel
Commitments and contingencies
Punitive damages			$ 5.0
Lawsuit filed by GT&T against Digicel \| Minimum
Commitments and contingencies
Damages asserted			$ 9.0
Legal claims regarding tax filings with the Guyana Revenue Authority
Commitments and contingencies
Future payments related to disputed tax assessments									$ 32.4
Accrued contingent liability									$ 5.0
Legal claims regarding tax filings with the Guyana Revenue Authority \| Minimum
Commitments and contingencies
Percentage of return on investment ensured by the government of Guyana									15.00%

COMMITMENTS AND CONTINGENCIES - Lease Commitments (Details) $ in Thousands, ft² in Millions	12 Months Ended
	Dec. 31, 2015 USD ($) ft²	Dec. 31, 2014 USD ($)	Dec. 31, 2013 USD ($)
COMMITMENTS AND CONTINGENCIES
Area of lease (in square feet) \| ft²	2.6
Obligation for payments under leases
2016	$ 25,046
2017	21,919
2018	16,754
2019	10,080
2020	6,999
Thereafter	13,560
Total obligations under operating leases	94,358
Rent expense
Rent expense	$ 17,000	$ 15,000	$ 12,700

RELATED PARTY TRANSACTIONS (Details)	1 Months Ended	12 Months Ended
RELATED PARTY TRANSACTIONS (Details)	Oct. 31, 2014 USD ($) item	Dec. 31, 2015 USD ($)	Dec. 31, 2014 USD ($)	Dec. 31, 2013 USD ($)
Related Party Transaction
Rent payments		$ 17,000,000	$ 15,000,000	$ 12,700,000
Cornelius B. Prior Jr \| Tropical Tower
Related Party Transaction
Ownership percentage	90
Rent payments	$ 117,000
Initial Term	5 years
Number of additional renewal period \| item	2
Renewal period	5 years
Percentage of increase in rent	5.00%

SEGMENT REPORTING (Details) $ in Thousands	3 Months Ended								12 Months Ended
SEGMENT REPORTING (Details) $ in Thousands	Dec. 31, 2015 USD ($)	Sep. 30, 2015 USD ($)	Jun. 30, 2015 USD ($)	Mar. 31, 2015 USD ($)	Dec. 31, 2014 USD ($)	Sep. 30, 2014 USD ($)	Jun. 30, 2014 USD ($)	Mar. 31, 2014 USD ($)	Dec. 31, 2015 USD ($) item	Dec. 31, 2014 USD ($) item	Dec. 31, 2013 USD ($) item
Segment reporting
Number of reportable segments \| item									5	4	4
Revenue
Revenue	$ 82,916	$ 96,782	$ 90,326	$ 85,345	$ 88,511	$ 89,393	$ 83,269	$ 75,174	$ 355,369	$ 336,347	$ 292,835
Depreciation and amortization									56,890	51,234	48,737
Non-cash stock-based compensation									4,975	4,323	4,454
Operating income (loss)	8,181	$ 22,524	$ 28,732	$ 19,158	19,563	$ 28,158	$ 21,607	$ 16,248	78,595	85,576	64,085
Segment Assets
Net fixed assets	373,503				369,582				373,503	369,582
Goodwill	45,077				45,077				45,077	45,077
Total assets	945,004				925,030				945,004	925,030
Capital Expenditures
Capital expenditures									64,753	58,300	69,316
U.S. Wireless
Revenue
Revenue									155,390	153,040	107,930
International wireless
Revenue
Revenue									81,652	88,650	91,432
Wireline
Revenue
Revenue									86,485	85,284	84,585
Equipment and other
Revenue
Revenue									10,802	9,373	8,888
Renewable energy
Revenue
Revenue									21,040
Reconciling Items
Revenue
Depreciation and amortization									4,947	3,980	2,967
Non-cash stock-based compensation									4,708	4,323	4,454
Operating income (loss)									(30,784)	(26,399)	(25,978)
Segment Assets
Net fixed assets	14,085				14,655				14,085	14,655
Total assets	315,740				287,349				315,740	287,349
Capital Expenditures
Capital expenditures									4,323	3,464
Reconciling Items \| Discontinued operations
Segment Assets
Total assets					175					175
U.S. Wireless
Revenue
Revenue										154,592	109,005
Depreciation and amortization										14,345	14,308
Operating income (loss)										89,187	54,867
Segment Assets
Net fixed assets	89,466				79,910				89,466	79,910
Goodwill	32,148				32,148				32,148	32,148
Total assets	182,669				188,377				182,669	188,377
U.S. Wireless \| U.S. Wireless
Revenue
Revenue										153,040	107,930
U.S. Wireless \| Wireline
Revenue
Revenue										609	610
U.S. Wireless \| Equipment and other
Revenue
Revenue										943	465
U.S. Wireless \| Operating segments
Revenue
Revenue									158,128
Depreciation and amortization									17,605
Operating income (loss)									78,357
Capital Expenditures
Capital expenditures									29,741	33,446
U.S. Wireless \| Operating segments \| U.S. Wireless
Revenue
Revenue									155,390
U.S. Wireless \| Operating segments \| Wireline
Revenue
Revenue									613
U.S. Wireless \| Operating segments \| Equipment and other
Revenue
Revenue									2,125
International Integrated Telephony
Revenue
Revenue										86,932	93,446
Depreciation and amortization										17,408	17,975
Operating income (loss)										19,628	27,662
Segment Assets
Net fixed assets	110,063				108,972				110,063	108,972
Total assets	207,023				202,171				207,023	202,171
International Integrated Telephony \| International wireless
Revenue
Revenue										26,819	30,334
International Integrated Telephony \| Wireline
Revenue
Revenue										59,129	61,475
International Integrated Telephony \| Equipment and other
Revenue
Revenue										984	1,637
International Integrated Telephony \| Operating segments
Revenue
Revenue									88,893
Depreciation and amortization									16,470
Operating income (loss)									15,738
Capital Expenditures
Capital expenditures									14,549	10,646
International Integrated Telephony \| Operating segments \| International wireless
Revenue
Revenue									25,706
International Integrated Telephony \| Operating segments \| Wireline
Revenue
Revenue									61,244
International Integrated Telephony \| Operating segments \| Equipment and other
Revenue
Revenue									1,943
Island Wireless
Revenue
Revenue										68,575	67,653
Depreciation and amortization										10,671	10,305
Operating income (loss)										9,046	8,610
Segment Assets
Net fixed assets	23,199				26,590				23,199	26,590
Goodwill	5,438				5,438				5,438	5,438
Total assets	71,747				74,563				71,747	74,563
Island Wireless \| International wireless
Revenue
Revenue										61,831	61,098
Island Wireless \| Equipment and other
Revenue
Revenue										6,744	6,555
Island Wireless \| Operating segments
Revenue
Revenue									62,450
Depreciation and amortization									8,413
Operating income (loss)									12,462
Capital Expenditures
Capital expenditures									8,255	6,064
Island Wireless \| Operating segments \| International wireless
Revenue
Revenue									55,946
Island Wireless \| Operating segments \| Equipment and other
Revenue
Revenue									6,504
U.S. Wireline
Revenue
Revenue										25,799	22,731
Depreciation and amortization										4,725	3,182
Operating income (loss)										(3,668)	(1,076)
Segment Assets
Net fixed assets	30,130				28,113				30,130	28,113
Goodwill	7,491				7,491				7,491	7,491
Total assets	45,038				42,446				45,038	42,446
U.S. Wireline \| Wireline
Revenue
Revenue										25,546	22,500
U.S. Wireline \| Equipment and other
Revenue
Revenue										253	$ 231
U.S. Wireline \| Operating segments
Revenue
Revenue									24,858
Depreciation and amortization									4,635
Operating income (loss)									(3,898)
Capital Expenditures
Capital expenditures									7,847	4,680
U.S. Wireline \| Operating segments \| Wireline
Revenue
Revenue									24,628
U.S. Wireline \| Operating segments \| Equipment and other
Revenue
Revenue									230
Renewable energy
Revenue
Revenue										449
Depreciation and amortization										105
Operating income (loss)										(2,218)
Segment Assets
Net fixed assets	106,560				111,342				106,560	111,342
Total assets	$ 122,788				$ 130,124				122,788	130,124
Renewable energy \| Equipment and other
Revenue
Revenue										$ 449
Renewable energy \| Operating segments
Revenue
Revenue									21,040
Depreciation and amortization									4,820
Non-cash stock-based compensation									267
Operating income (loss)									6,720
Capital Expenditures
Capital expenditures									38
Renewable energy \| Operating segments \| Renewable energy
Revenue
Revenue									$ 21,040

QUARTERLY FINANCIAL DATA (UNAUDITED) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Quarterly financial data
Total revenue	$ 82,916	$ 96,782	$ 90,326	$ 85,345	$ 88,511	$ 89,393	$ 83,269	$ 75,174	$ 355,369	$ 336,347	$ 292,835
Operating expenses	74,735	74,258	61,594	66,187	68,948	61,235	61,662	58,926	276,774	250,771	228,750
Income from operations	8,181	22,524	28,732	19,158	19,563	28,158	21,607	16,248	78,595	85,576	64,085
Other income (expense), net	(418)	(742)	(706)	(20,528)	509	325	53	(295)	(22,394)	592	(17,612)
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES	7,763	21,782	28,026	(1,370)	20,072	28,483	21,660	15,953	56,201	86,168	46,473
Income tax	1,482	10,134	13,008	(487)	5,689	9,569	7,338	5,552	24,137	28,148	9,536
INCOME FROM CONTINUING OPERATIONS	6,281	11,648	15,018	(883)	14,383	18,914	14,322	10,401	32,064	58,020	36,937
Income from discontinued operations:
Income from discontinued operations, net of tax											5,166	$ 5,166
Gain on sale of discontinued operations, net of tax	702			389	1,102				1,092	1,102	307,102
Income from discontinued operations, net of tax	702			390	1,102				1,092	1,102	312,268
NET INCOME	6,983	11,648	15,018	(493)	15,485	18,914	14,322	10,401	33,156	59,122	349,205
Net loss attributable to non-controlling interests, net of tax:
Continuing operations	(2,799)	(5,072)	(5,568)	(2,777)	(2,854)	(2,747)	(2,809)	(2,560)	(16,216)	(10,970)	(7,989)
Discontinued operations											(601)
Disposal of discontinued operations											(28,899)
Net income attributable to non-controlling interests, net of tax	$ 4,184	$ 6,576	$ 9,450	$ (3,270)	(2,854)	(2,747)	(2,809)	(2,560)	(16,216)	(10,970)	(37,489)
NET INCOME (LOSS) ATTRIBUTABLE TO ATLANTIC TELE-NETWORK, INC. STOCKHOLDERS					$ 12,631	$ 16,167	$ 11,513	$ 7,841	$ 16,940	$ 48,152	$ 311,716
NET INCOME PER WEIGHTED AVERAGE BASIC SHARE ATTRIBUTABLE TO ATLANTIC TELE-NETWORK, INC. STOCKHOLDERS:
Continuing operations (in dollars per share)	$ 0.17	$ 0.41	$ 0.59	$ (0.18)	$ 0.72	$ 1.02	$ 0.72	$ 0.50	$ 0.99	$ 2.96	$ 1.84
Discontinued operations:
Discontinued operations (in dollars per share)				0.07							0.29
Gain on sale of discontinued operations (in dollars per share)					0.07				0.07	0.07	17.72
Total discontinued operations (in dollars per share)				0.07	0.07				0.07	0.07	18.01
Total (in dollars per share)	0.17	0.41	0.59	(0.11)	0.79	1.02	0.72	0.50	1.06	3.03	19.85
NET INCOME PER WEIGHTED AVERAGE DILUTED SHARE ATTRIBUTABLE TO ATLANTIC TELE-NETWORK, INC. STOCKHOLDERS:
Continuing operations (in dollars per share)	0.16	0.41	0.59	(0.18)	0.72	1.01	0.72	0.49	0.98	2.94	1.83
Discontinued operations:
Discontinued operations (in dollars per share)				0.07							0.29
Gain on sale of discontinued operations (in dollars per share)					0.07				0.07	0.07	17.59
Total discontinued operations (in dollars per share)				0.07	0.07				0.07	0.07	17.88
Total (in dollars per share)	$ 0.16	$ 0.41	$ 0.59	$ (0.11)	$ 0.79	$ 1.01	$ 0.72	$ 0.49	$ 1.05	$ 3.01	$ 19.71
Understatement of Transactional Tax Liabilities \| General and administrative expense
Additional information:
Correction of immaterial prior period errors in current period										$ 800
Understatement of Foreign Exchange Gains \| Selling and Marketing Expense [Member]
Additional information:
Correction of immaterial prior period errors in current period										1,100
Tax Basis Differences and Expense Recognition
Additional information:
Correction of immaterial prior period errors in current period	$ 700	$ 700								$ 100

SUBSEQUENT EVENT (Details) - USD ($) $ in Millions	Jan. 11, 2016	Jan. 10, 2016	Dec. 19, 2014
KeyTech [Member] \| Maximum \| Subsequent Event [Member]
SUBSEQUENT EVENT
Potential cash dividend	$ 13.0
Innovative [Member] \| Subsequent Event [Member] \| Secured Debt
SUBSEQUENT EVENT
Secured debt principal amount	60.0
Amended Credit Facility [Member] \| Revolving credit facility
SUBSEQUENT EVENT
Maximum borrowing capacity			$ 225.0
Amended Credit Facility [Member] \| Subsequent Event [Member]
SUBSEQUENT EVENT
Maximum borrowing capacity	400.0	$ 275.0
Amended Credit Facility [Member] \| Subsequent Event [Member] \| Revolving credit facility
SUBSEQUENT EVENT
Maximum borrowing capacity	$ 200.0

SCHEDULE II VALUATION AND QUALIFYING ACCOUNTS (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Movement in valuation and qualifying accounts
Balance at Beginning of Year	$ 25,106	$ 25,317	$ 24,692
Charged to Costs and Expenses	1,304	2,978	2,806
Deductions	9,303	3,189	2,181
Balance at End of Year	17,107	25,106	25,317
Valuation allowance on foreign tax credit carryforwards
Movement in valuation and qualifying accounts
Balance at Beginning of Year	10,577	13,576	15,396
Deductions	6,397	2,999	1,820
Balance at End of Year	4,180	10,577	13,576
Valuation allowance on foreign net operating losses
Movement in valuation and qualifying accounts
Balance at Beginning of Year	1,500	1,610	898
Charged to Costs and Expenses	172		712
Deductions		110
Balance at End of Year	1,672	1,500	1,610
Valuation allowance on state net operating losses
Movement in valuation and qualifying accounts
Balance at Beginning of Year	1,687	1,126	494
Charged to Costs and Expenses	275	561	632
Balance at End of Year	1,962	1,687	1,126
Allowance for doubtful accounts
Movement in valuation and qualifying accounts
Balance at Beginning of Year	11,342	9,005	7,904
Charged to Costs and Expenses	857	2,417	1,462
Deductions	2,906	80	361
Balance at End of Year	$ 9,293	$ 11,342	$ 9,005