Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Sep. 30, 2017 | Oct. 20, 2017 | |
Document Document And Entity Information [Abstract] | ||
Entity Registrant Name | Spok Holdings, Inc | |
Entity Central Index Key | 1,289,945 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Accelerated Filer | |
Document Type | 10-Q | |
Document Period End Date | Sep. 30, 2017 | |
Document Fiscal Year Focus | 2,017 | |
Document Fiscal Period Focus | Q3 | |
Amendment Flag | false | |
Entity Common Stock, Shares Outstanding (shares) | 19,983,343 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Current assets: | ||
Cash and cash equivalents | $ 110,140 | $ 125,816 |
Accounts receivable, net | 27,057 | 23,666 |
Prepaid expenses and other | 6,637 | 4,384 |
Inventory | 1,906 | 1,996 |
Total current assets | 145,740 | 155,862 |
Non-current assets: | ||
Property and equipment, net | 13,706 | 12,818 |
Goodwill | 133,031 | 133,031 |
Intangible assets, net | 8,542 | 10,803 |
Deferred income tax assets | 71,973 | 73,068 |
Other non-current assets | 2,025 | 2,505 |
Total non-current assets | 229,277 | 232,225 |
TOTAL ASSETS | 375,017 | 388,087 |
Current liabilities: | ||
Accounts payable | 3,023 | 1,909 |
Accrued compensation and benefits | 13,577 | 13,268 |
Accrued dividends payable | 365 | 5,140 |
Accrued taxes | 2,668 | 4,132 |
Deferred revenue | 30,159 | 29,145 |
Other current liabilities | 2,185 | 2,733 |
Total current liabilities | 51,977 | 56,327 |
Non-current liabilities: | ||
Deferred revenue | 1,051 | 752 |
Other non-current liabilities | 8,620 | 8,921 |
Total non-current liabilities | 9,671 | 9,673 |
TOTAL LIABILITIES | 61,648 | 66,000 |
COMMITMENTS AND CONTINGENCIES | ||
STOCKHOLDERS' EQUITY: | ||
Preferred stock | 0 | 0 |
Common stock | 2 | 2 |
Additional paid-in capital | 97,630 | 104,810 |
Retained earnings | 215,737 | 217,275 |
TOTAL STOCKHOLDERS’ EQUITY | 313,369 | 322,087 |
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | $ 375,017 | $ 388,087 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Income - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Revenue: | ||||
Wireless | $ 25,110 | $ 27,024 | $ 76,609 | $ 83,055 |
Software | 18,526 | 18,331 | 50,796 | 52,322 |
Total revenue | 43,636 | 45,355 | 127,405 | 135,377 |
Operating expenses: | ||||
Cost of revenue | 7,069 | 7,639 | 21,295 | 23,167 |
Research and development | 5,001 | 3,645 | 13,768 | 9,765 |
Service, rental and maintenance | 7,875 | 8,253 | 23,885 | 24,745 |
Selling and marketing | 5,533 | 5,955 | 16,784 | 18,912 |
General and administrative | 12,058 | 10,605 | 35,706 | 31,551 |
Depreciation, amortization and accretion | 2,775 | 3,229 | 8,849 | 9,787 |
Total operating expenses | 40,311 | 39,326 | 120,287 | 117,927 |
Operating income | 3,325 | 6,029 | 7,118 | 17,450 |
Interest income | 214 | 67 | 490 | 176 |
Other income | 359 | 85 | 415 | 443 |
Income before income tax expense | 3,898 | 6,181 | 8,023 | 18,069 |
Income tax expense | (171) | (2,123) | (1,945) | (7,116) |
Net income | $ 3,727 | $ 4,058 | $ 6,078 | $ 10,953 |
Basic and diluted net income per common share (usd per share) | $ 0.19 | $ 0.20 | $ 0.30 | $ 0.53 |
Basic weighted average common shares outstanding (shares) | 19,977,263 | 20,541,275 | 20,285,240 | 20,604,905 |
Diluted weighted average common shares outstanding (shares) | 20,008,321 | 20,541,275 | 20,362,774 | 20,604,905 |
Cash dividends declared per common share (usd per share) | $ 0.125 | $ 0.125 | $ 0.375 | $ 0.375 |
Condensed Consolidated Stateme4
Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2017 | Sep. 30, 2016 | |
Cash flows provided by operating activities: | ||
Net income | $ 6,078 | $ 10,953 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation, amortization and accretion | 8,849 | 9,787 |
Deferred income tax expense | 1,118 | 6,188 |
Stock based compensation | 2,815 | 2,067 |
Provision for doubtful accounts, service credits and other | 767 | 648 |
Adjustment of non-cash transaction taxes | (754) | (214) |
Changes in assets and liabilities: | ||
Accounts receivable | (4,156) | (1,389) |
Prepaid expenses, inventory, intangibles and other assets | (1,726) | 27 |
Accounts payable, accrued liabilities and other | (319) | (1,738) |
Deferred revenue | 1,313 | 3,109 |
Net cash provided by operating activities | 13,985 | 29,438 |
Cash flows used in investing activities: | ||
Purchase of property and equipment, net of proceeds from disposals of property and equipment | (7,034) | (4,377) |
Net cash used in investing activities | (7,034) | (4,377) |
Cash flows used in financing activities: | ||
Cash distributions to stockholders | (12,733) | (7,718) |
Purchase of common stock (including commissions), net of proceeds from issuance of common stock | (9,894) | (6,214) |
Net cash used in financing activities | (22,627) | (13,932) |
Net (decrease) increase in cash and cash equivalents | (15,676) | 11,129 |
Cash and cash equivalents, beginning of period | 125,816 | 111,332 |
Cash and cash equivalents, end of period | 110,140 | 122,461 |
Supplemental disclosure: | ||
Income taxes paid | $ 2,300 | $ 681 |
Organization and Significant Ac
Organization and Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2017 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Organization and Significant Accounting Policies | ORGANIZATION AND SIGNIFICANT ACCOUNTING POLICIES Spok Holdings, Inc. (NASDAQ: SPOK) ("Spok" or the "Company") through its wholly-owned subsidiary Spok, Inc., is the global leader in healthcare communications. We deliver clinical information to care teams when and where it matters most to improve patient outcomes. Many hospitals rely on the Spok Care Connect platform to enhance workflows for clinicians, support administrative compliance, and provide a better experience for patients. Our customers send over 100 million messages each month through their Spok solutions. We offer a focused suite of unified critical communication solutions that include call center operations, clinical alerting and notifications, one-way and advanced two-way wireless messaging services, mobile communications and public safety solutions. We provide one-way and advanced two-way wireless messaging services including information services throughout the United States. These services are offered on a local, regional and nationwide basis employing digital networks. One-way messaging consists of numeric and alphanumeric messaging services. Numeric messaging services enable subscribers to receive messages that are composed entirely of numbers, such as a phone number, while alphanumeric messages may include numbers and letters, which enable subscribers to receive text messages. Two-way messaging services enable subscribers to send and receive messages to and from other wireless messaging devices, including pagers, mobile devices and personal computers. We also offer voice mail, personalized greeting, message storage and retrieval, and equipment loss and/or maintenance protection to both one-way and two-way messaging subscribers. These services are commonly referred to as wireless messaging and information services. We also develop, sell and support enterprise-wide systems for hospitals and other organizations needing to automate, centralize and standardize mission critical communications. These solutions are used for contact centers, clinical alerting and notification, mobile communications and messaging and for public safety notifications. These areas of market focus complement the market focus of our wireless services outlined above. These products and services are commonly referred to as software solutions and services. Basis of Presentation The accompanying condensed consolidated financial statements include our accounts and the accounts of our wholly-owned direct and indirect subsidiaries. All significant intercompany accounts and transactions have been eliminated in consolidation. Our condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) and the rules and regulations of the United States Securities and Exchange Commission (the “SEC”). In management's opinion, the unaudited condensed consolidated financial statements include all adjustments and accruals that are necessary for a fair presentation of the results of all interim periods reported herein and all such adjustments are of a normal, recurring nature. Amounts shown on the condensed consolidated statements of income within the operating expense categories of Cost of Revenue; Research and Development; Service, Rental and Maintenance; Selling and Marketing; and General and Administrative are recorded exclusive of depreciation, amortization and accretion. These items are shown separately on the condensed consolidated statements of income within operating expenses. Foreign currency translation adjustments were immaterial and are not presented separately in our condensed consolidated financial statements and consequently no statements of comprehensive income are presented. Certain prior period amounts in the condensed consolidated financial statements have been reclassified to conform to the current period's presentation. These reclassifications had no effect on the reported results of operations or the statement of financial position. In the fourth quarter 2016, the Company concluded that it was appropriate to separately state those operating expenses related to research and development. Previously those expenses had been classified under the Service, Rental and Maintenance operating category. Corresponding reclassifications were made to the Condensed Consolidated Statements of Income for the three and nine months ended September 30, 2016 . This change in classification has no effect on the previously reported Condensed Consolidated Statements of Income for any period. The financial information included herein, other than the Condensed Consolidated Balance Sheet as of December 31, 2016 , is unaudited. The Condensed Consolidated Balance Sheet at December 31, 2016 has been derived from, but does not include, all the disclosures contained in the audited consolidated financial statements as of and for the year ended December 31, 2016 . These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and accompanying notes included in the Company's Annual Report on Form 10-K for the year ended December 31, 2016 (the “ 2016 Annual Report”). The Condensed Consolidated Statements of Income for the interim periods presented are not necessarily indicative of the results that may be expected for a full year. Use of Estimates The preparation of these condensed consolidated financial statements requires management to make estimates and judgments that affect the reported amounts of assets, liabilities, revenues, expenses and related disclosures. On an on-going basis, we evaluate estimates and assumptions, including, but not limited to, those related to the impairment of long-lived assets; intangible assets subject to amortization and goodwill; accounts receivable allowances; revenue recognition; depreciation expense; asset retirement obligations; severance and income taxes. We base our estimates on historical experience and various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates under different assumptions or conditions. |
Risks and Other Important Facto
Risks and Other Important Factors | 9 Months Ended |
Sep. 30, 2017 | |
Risks and Uncertainties [Abstract] | |
Risks and Other Important Factors | RISKS AND OTHER IMPORTANT FACTORS See “Item 1A. Risk Factors” of Part II of this Quarterly Report on Form 10-Q (“Quarterly Report”) and "Item 1A. Risk Factors" of Part I of the 2016 Annual Report, which describes key risks associated with our operations and industry. |
Recent and Pending Accounting S
Recent and Pending Accounting Standards | 9 Months Ended |
Sep. 30, 2017 | |
Accounting Changes and Error Corrections [Abstract] | |
Recent and Pending Accounting Standards | RECENT AND PENDING ACCOUNTING STANDARDS Revenue In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers . Since this ASU was issued, the FASB has issued several updates including ASU No. 2015-14 in July 2015 which delayed the effective date, ASU No. 2016-08 in March 2016 which updated guidance related to principal versus agent considerations, ASU No. 2016-10 in April 2016 which updated guidance related to the identification of performance obligations, ASU No. 2016-12 in May 2016 which updated guidance related to scope improvements and practical expedients and ASU No. 2016-20 which provided technical corrections and improvements but did not update guidance issued in prior updates. The effective date is January 1, 2018, and while early adoption to the original effective date of January 1, 2017 is permitted, we have elected not to early adopt. ASU No. 2014-09 creates a five-step model that requires companies to exercise judgment when considering all relevant facts and circumstances in the determination of when and how revenue is recognized. The two permitted transition methods under the new standard are the full retrospective method, in which case the standard would be applied to each prior reporting period presented, or the modified retrospective method, in which case the cumulative effect of applying the standard would be recognized at the date of initial application. We have completed our review of the acceptable transition methods and have selected the modified retrospective approach. We currently estimate the modified retrospective approach may have a material impact on either deferred revenue or retained earnings in our 2018 consolidated financial statements as the potential impact is dependent upon the mix of products and services for contracts outstanding as of December 31, 2017. We currently believe the standard will materially impact our revenue recognition on a going-forward basis once adopted. While we continue to assess the potential impacts of this standard, we currently believe that the most significant impact relates to our accounting for software license revenue. We expect software license revenue to generally be recognized when made available rather than over a combined service period or term period. Due to the nuances of certain contracts, the actual revenue recognition treatment required under the standard will be dependent on contract-specific terms and may vary in some instances from recognition at the time that software is made available to the customer. Leases In February 2016, the FASB issued ASU No. 2016-02, Leases . The new standard establishes a right of use (“ROU”) model that requires a lessee to record a ROU asset and a lease liability on the balance sheet for all leases with terms longer than twelve months. Leases will be classified as either financing or operating with the classification affecting the pattern of expense recognition in the income statement. ASU No. 2016-02 will be effective for fiscal years beginning on January 1, 2019, including the related interim periods and early adoption of the standard is permitted. A modified retrospective transition approach is required for capital and operating leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements, with certain practical expedients available. While we are still evaluating the impact of the potential new standard on our consolidated financial statements, we expect that upon adoption we will recognize ROU assets and lease liabilities and that the amounts could be material. Goodwill In January 2017, the FASB issued ASU No. 2017-04, Intangibles - Goodwill and Other: Simplifying the Test for Goodwill Impairment . The new standard simplifies how an entity tests for goodwill by eliminating Step 2 from the goodwill impairment test. Step 2 measured a goodwill impairment loss by comparing the implied fair value of a reporting unit's goodwill with the carrying amount of that goodwill. By eliminating Step 2 an entity must now record an impairment to goodwill based on an analysis of the fair value of a reporting unit as compared to its carrying amount. An impairment charge is recognized for the amount that the carrying value exceeds the reporting unit's fair value. ASU No. 2017-04 will be effective for fiscal years beginning on January 1, 2020, including interim periods within those fiscal years, and early adoption as of January 1, 2017 is permitted. All changes are to be accounted for on a prospective basis upon adoption. We do not believe adoption of ASU No. 2017-04 will have a material impact on our consolidated financial statements. We have not yet determined whether we will early adopt ASU No. 2017-04. |
Consolidated Financial Statemen
Consolidated Financial Statement Components | 9 Months Ended |
Sep. 30, 2017 | |
Supplemental Financial Statement Components [Abstract] | |
Consolidated Financial Statement Components | CONSOLIDATED FINANCIAL STATEMENT COMPONENTS Prepaid Expenses and Other Prepaid expenses and other consisted of the following as of the date stated: (Dollars in thousands) September 30, 2017 December 31, 2016 Prepaid repairs and maintenance $ 2,517 $ 1,561 Prepaid commissions 1,622 594 Prepaid taxes 862 100 Other prepaid expenses 1,636 2,129 Total prepaid expenses and other $ 6,637 $ 4,384 Depreciation, Amortization and Accretion Depreciation, amortization and accretion expenses consisted of the following for the periods stated: For the Three Months Ended September 30, For the Nine Months Ended September 30, (Dollars in thousands) 2017 2016 2017 2016 Depreciation Leasehold improvements $ 50 $ 47 $ 175 $ 145 Asset retirement costs (97 ) (69 ) (292 ) (209 ) Paging and computer equipment 1,990 2,015 6,077 6,010 Furniture, fixtures and vehicles 66 73 207 221 Total depreciation 2,009 2,066 6,167 6,167 Amortization 625 1,007 2,261 3,153 Accretion 141 156 421 467 Total depreciation, amortization and accretion expense $ 2,775 $ 3,229 $ 8,849 $ 9,787 Accounts Receivable, Net Accounts receivable was recorded net of an allowance of $ 1.2 million and $1.1 million at September 30, 2017 and December 31, 2016 , respectively. Property and Equipment, Net Property and equipment, net consisted of the following as of the date stated: (Dollars in thousands) Useful Life September 30, 2017 December 31, 2016 Leasehold improvements shorter of useful life or lease term $ 4,083 $ 3,843 Asset retirement costs 1-5 3,289 3,263 Paging and computer equipment 1-5 112,827 113,175 Furniture, fixtures and vehicles 3-5 4,551 2,852 Total property and equipment 124,750 123,133 Accumulated depreciation (111,044 ) (110,315 ) Total property and equipment, net $ 13,706 $ 12,818 Other Current Liabilities Other current liabilities consisted of the following as of the date stated: (Dollars in thousands) September 30, 2017 December 31, 2016 Accrued outside services $ 999 $ 975 Accrued network costs 630 773 Accrued accounting and legal 277 467 Asset retirement obligations 235 85 Deferred rent and other 44 433 Total other current liabilities $ 2,185 $ 2,733 Other Non-Current Liabilities Other non-current liabilities consisted of the following as of the date stated: (Dollars in thousands) September 30, 2017 December 31, 2016 Asset retirement obligations $ 7,580 $ 7,472 Deferred rent and other 872 942 Dividends payable 168 507 Total other non-current liabilities $ 8,620 $ 8,921 |
Intangible Assets, Net
Intangible Assets, Net | 9 Months Ended |
Sep. 30, 2017 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Intangible Assets, Net | INTANGIBLE ASSETS, NET Intangible Assets Amortizable intangible assets at September 30, 2017 related primarily to customer relationships that resulted from our acquisition of Amcom Software, Inc. in 2011. Such intangibles are being amortized over a period of ten years . The net consolidated balance of intangible assets consisted of the following at September 30, 2017 : September 30, 2017 (Dollars in thousands) Useful Life Gross Carrying Accumulated Net Balance Customer relationships 10 $ 25,002 $ (16,460 ) $ 8,542 Total amortizable intangible assets 10 $ 25,002 $ (16,460 ) $ 8,542 Estimated amortization of intangible assets for future periods was as follows: (Dollars in thousands) For the remaining three months ending December 31, 2017 $ 625 For the year ending December 31: 2018 2,500 2019 2,500 2020 2,500 2021 417 Total amortizable intangible assets $ 8,542 |
Asset Retirement Obligations
Asset Retirement Obligations | 9 Months Ended |
Sep. 30, 2017 | |
Asset Retirement Obligation Disclosure [Abstract] | |
Asset Retirement Obligations | ASSET RETIREMENT OBLIGATIONS The components of the changes in the asset retirement obligation liabilities were: (Dollars in thousands) Short-Term Long-Term Total Balance at January 1, 2017 $ 85 $ 7,472 $ 7,557 Accretion 6 415 421 Amounts paid (189 ) — (189 ) Asset additions recorded, net — 26 26 Reclassifications 333 (333 ) — Balance at September 30, 2017 $ 235 $ 7,580 $ 7,815 The balances above were included within other current liabilities and other non-current liabilities, respectively, at September 30, 2017 . Increases and reductions other than accretion, reclassification and amounts paid primarily relate to changes in estimate of the underlying liability, specifically as it relates to updates in estimated costs to remove a transmitter and the estimated timing of removal. The cost associated with the estimated removal costs and timing refinements due to ongoing network rationalization activities is expected to accrete to a total liability of $9.0 million . The total estimated liability is based on the transmitter locations remaining after we have consolidated the number of networks we operate and assume the underlying leases continue to be renewed to that future date. Accretion expense was $0.4 million and $0.5 million for the nine months ended September 30, 2017 and 2016 , respectively. Accretion expense related solely to asset retirement obligations and was recorded based on the interest method. |
Stockholders' Equity
Stockholders' Equity | 9 Months Ended |
Sep. 30, 2017 | |
Equity [Abstract] | |
Stockholders' Equity | STOCKHOLDERS' EQUITY General Our authorized capital stock consists of 75 million shares of common stock, par value $0.0001 per share, and 25 million shares of preferred stock, par value $0.0001 per share. At September 30, 2017 and December 31, 2016 , we had no stock options outstanding. At September 30, 2017 and December 31, 2016 , there were 19,977,318 and 20,525,614 shares of common stock outstanding, respectively, and no shares of preferred stock outstanding. Changes in Stockholders' Equity Changes in stockholders’ equity for the nine months ended September 30, 2017 consisted of the following: (Dollars in thousands) Balance at January 1, 2017 $ 322,087 Net income for the nine months ended September 30, 2017 6,078 Cash dividends declared (7,776 ) Common stock repurchase program (10,024 ) Amortization of stock based compensation 2,815 Other 189 Balance at September 30, 2017 $ 313,369 Dividends The following table details our cash dividend payments made in 2017 . Cash dividends paid as disclosed in the condensed consolidated statements of cash flows for the nine months ended September 30, 2017 and 2016 include previously declared cash dividends on shares of vested restricted common stock ("restricted stock") issued to our non-executive directors and dividends related to vested restricted stock units ("RSUs") issued to eligible employees. Cash dividends on RSUs and restricted stock have been accrued and are paid when the applicable vesting conditions are met. Accrued cash dividends on forfeited restricted stock and RSUs are also forfeited. Declaration Date Record Date Payment Date Per Share Amount Total Payment (1) (Dollars in thousands) December 20, 2016 January 4, 2017 January 17, 2017 $ 0.250 $ 5,128 March 1, 2017 March 17, 2017 March 30, 2017 0.125 2,566 April 26, 2017 May 23, 2017 June 23, 2017 0.125 2,545 July 26, 2017 August 18, 2017 September 8, 2017 0.125 2,494 Total $ 0.625 $ 12,733 (1) The total payment reflects the cash dividends paid in relation to common stock and vested restricted stock. On October 25, 2017, our Board of Directors declared a regular quarterly cash dividend of $0.125 per share of common stock with a record date of November 17, 2017, and a payment date of December 8, 2017. This cash dividend of approximately $2.5 million will be paid from available cash on hand. Common Stock Repurchase Program On April 26, 2017, the Company's Board of Directors authorized the repurchase of up to $10.0 million of the Company's common stock through 2017 on the open market or in privately negotiated transactions. The Company used the entire $10.0 million of repurchase authority by June 30, 2017. The following table presents information with respect to purchases made by the Company during the nine months ended September 30, 2017 : Period Total Number of Shares Purchased Average Price Paid Per Share Total Number of Shares Purchased as Part of the Publicly Announced Plans or Programs Approximate Dollar Value of Shares That May Yet Be Purchased Under the Publicly Announced Plans or Programs (Dollars in thousands) Beginning Balance $ 10,000 Three Months Ended June 30, 2017 572,550 17.47 572,550 — Total 572,550 $ 17.47 572,550 Net Income per Common Share Basic net income per common share is computed on the basis of the weighted average common shares outstanding. Diluted net income per common share is computed on the basis of the weighted average common shares outstanding plus the effect of all potentially dilutive common shares including outstanding restricted stock and RSUs, which are treated as contingently issuable shares, using the “treasury stock” method. The Company has determined, based on the provisions of the 2015 Long-Term Incentive Plan ("2015 LTIP"), that unvested RSUs do not currently meet, nor have they met since issuance, the criteria to be considered dilutive. Therefore, we have excluded them from the calculation of both diluted net income per common share as well as the diluted weighted average shares of common stock and common stock equivalents for the three and nine months ended September 30, 2017 and removed them from the comparative information for the three and nine months ended September 30, 2016. This correction is immaterial to our financial statements and corresponding disclosures. Our third quarter 2017 interim Condensed Consolidated Financial Statements reflect this determination within the calculation of basic and diluted weighted average shares outstanding and earnings per share for the three and nine months ended September 30, 2017 and 2016. We assessed the materiality of these changes on our 2016 financial statements in accordance with SEC Staff Accounting Bulletin ("SAB") No. 99, Materiality, codified in Accounting Standards Codification ("ASC") 250, Presentation of Financial Statements, and concluded that they were not material to any prior annual or interim periods. We have corrected the third quarter 2016 by revising the third quarter 2016 interim condensed consolidated financial statements and other financial information included herein. Future periods will be revised, as applicable. The components of basic and diluted net income per common share were as follows for the periods stated: For the Three Months Ended September 30, For the Nine Months Ended September 30, (in thousands, except for share and per share amounts) 2017 2016 2017 2016 Numerator: Net income $ 3,727 $ 4,058 $ 6,078 $ 10,953 Denominator: Weighted average shares used to compute net income per common share - basic 19,977,263 20,541,275 20,285,240 20,604,905 Weighted average shares used to compute net income per common share - diluted 20,008,321 20,541,275 20,362,774 20,604,905 Basic and diluted net income per common share $ 0.19 $ 0.20 $ 0.30 $ 0.53 Spok Holdings, Inc. Equity Incentive Award Plan The following table summarizes the activities under the 2012 Equity Incentive Award Plan ("2012 Equity Plan") from January 1, 2017 through September 30, 2017 : Activity Total equity securities available at January 1, 2017 1,246,939 Less: 2015 performance-based LTIP RSUs awarded to eligible employees, net of forfeitures 87,594 Less: Time-based RSUs awarded to eligible employees (including 2017 LTIP), net of forfeitures 122,629 Less: Restricted stock awarded to non-executive members of the Board of Directors 15,271 Total equity securities available at September 30, 2017 1,021,445 On July 24, 2017 the Company's stockholders approved an amendment to our 2012 Equity Plan to: (i) expand the list of performance criteria that may be used for purposes of granting performance awards under the 2012 Equity Plan, and (ii) limit the annual value awards that may be granted to the Company's non-employee directors to $750,000 per year, subject to limited exceptions as described in the amendment. The approval of the amendment was intended to satisfy the stockholder approval requirements under Section 162(m) of the Internal Revenue Code. 2015 Long Term Incentive Plan. On December 9, 2014, our Board of Directors adopted the 2015 LTIP (which provides for a 36 -month vesting period) that included a stock component in the form of RSUs. Under this incentive program, RSUs will be granted to eligible employees annually and each annual grant will generally vest over a three-year service period. Each annual grant includes performance metrics required to be met for vesting purposes, as established by the Board of Directors. Our Board of Directors also approved that future cash dividends related to the RSUs will be set aside and paid in cash to each eligible employee when the RSUs are converted into shares of common stock. RSUs would be converted into shares of common stock on the earlier of a change in control of the Company (as defined in the 2015 LTIP) or on or after the third business day following the day that we file the Annual Report on Form 10-K with the SEC for the grant's final vesting year, but in no event later than December 31 of the year following the vesting date if the pre-established performance conditions are achieved. Any unvested RSUs awarded under the 2015 LTIP and the related cash dividends are forfeited if the participant terminates employment with the Company. On January 2, 2015, our Board of Directors granted 254,777 RSUs with a grant date fair value of $4.4 million . An additional 6,123 RSUs were granted to eligible employees who were promoted or joined the Company during the twelve months ended December 31, 2015. On January 28, 2016, our Board of Directors issued a second grant of 227,082 RSUs with a grant date fair value of $3.8 million . An additional 7,629 RSUs were granted to eligible employees who were promoted or joined the Company during the twelve months ended December 31, 2016. On January 2, 2017, our Board of Directors issued a third grant of 108,428 RSUs with a grant date fair value of $2.2 million . An additional 10,039 RSUs were issued to eligible employees who were promoted or joined the Company during the nine months ended September 30, 2017 . All issuances were made to eligible employees under the 2012 Equity Plan for the 2015 LTIP pursuant to a Restricted Stock Unit Agreement. Eligible employees have the opportunity to earn RSUs based upon continued employment with the Company and the achievement of performance goals established by our Board of Directors for our consolidated revenue and operating cash flows (as defined by the Company) during the period of January 1, 2015 through December 31, 2017 (“the 2015-2017 performance period”) for the 2015 grant, the period of January 1, 2016 through December 31, 2018 ("the 2016-2018 performance period") for the 2016 grant, and January 1, 2017 through December 31, 2019 ("the 2017-2019 performance period") for the 2017 grant, respectively. (For additional details regarding stock compensation refer to Note 9 , "Stock Based Compensation".) The following table details activities with respect to RSUs issued and outstanding under the 2015 LTIP for the nine months ended September 30, 2017 : Shares Weighted- Total Unrecognized Compensation Cost Weighted-Average Non-vested RSUs at January 1, 2017 451,493 $ 17.10 Granted 118,467 20.52 Vested — — Forfeited (30,873 ) 18.02 Non-vested RSUs at September 30, 2017 539,087 $ 17.80 $ 2,576 15 2017 Time Based Long Term Incentive Plan. On January 2, 2017, our Board of Directors granted 108,394 RSUs with a grant date fair value of $2.2 million . An additional 10,039 shares were issued to eligible employees who were promoted or joined the Company during the nine months ended September 30, 2017 . Our Board of Directors also approved that future cash dividends related to the RSUs will be set aside and paid in cash to each eligible employee when the RSUs are converted into shares of common stock. These RSUs vest one third on December 31, 2017, December 31, 2018 and December 31, 2019. RSUs would be converted into shares of common stock on the earlier of a change in control of the Company (as defined in the 2012 Equity Plan) or on or after the first business day following the vesting date but in no event later than 60 days following the vesting date. Any unvested RSUs awarded under the 2017 time based grant and the related cash dividends are forfeited if the participant terminates employment with the Company. (For additional details regarding stock compensation refer to Note 9 , "Stock Based Compensation".) The following table details activities with respect to RSUs issued and outstanding under the 2017 time based LTIP grant for the nine months ended September 30, 2017 : Shares Weighted- Average Grant Date Fair Value Total Unrecognized Compensation Cost Weighted-Average Period Over Which Cost is Expected to be Recognized (In months) Non-vested RSUs at January 1, 2017 — $ — Granted 118,433 20.52 Vested — — Forfeited (8,339 ) 20.75 Non-vested RSUs at September 30, 2017 110,094 $ 20.50 $ 1,234 15 Employee Stock Purchase Plan. On July 25, 2016, our stockholders approved the registration with the SEC of 250,000 shares of common stock, to be issued from time to time in connection with purchases under the Spok Holdings, Inc. 2016 Employee Stock Purchase Plan ("ESPP"). Shares were first offered for purchase under the ESPP during the third quarter of 2016. Under the ESPP, eligible participants can voluntarily elect to have contributions withheld from their pay for the duration of an offering period, subject to the ESPP limits. At the end of an offering period, contributions will be used to purchase the Company's common stock at a discount to the market price based on the first or last day of the offering period, whichever is lower. Participants are required to hold common stock for a minimum period of two years from the grant date. Participants will begin earning dividends on shares after the purchase date. Each offering period will generally last for no longer than six months. Once an offering period begins, participants cannot adjust their withholding amount. If a participant chooses to withdraw, any previously withheld funds will be returned to the participant, with no stock purchased, and that participant will be eligible to participate in the ESPP at the next offering period. If the participant terminates employment with the Company during the offering period, all contributions will be returned to the employee and no stock will be purchased at a discounted rate. No shares were purchased for the three months ended September 30, 2017 or during the corresponding period in 2016. For the nine months ended September 30, 2017 , 8,983 shares of common stock were purchased for a total cost of $0.1 million . No shares were purchased during the corresponding time periods in 2016. The following table summarizes the activities under the ESPP from January 1, 2017 through September 30, 2017 : Activity Total ESPP equity securities available at January 1, 2017 246,039 Less: ESPP common stock purchased by eligible employees 8,983 Total ESPP securities available at September 30, 2017 237,056 Amounts withheld from participants will be classified as a liability on the balance sheet until funds are used to purchase shares. This liability amount is immaterial to the overall financial statements. (For additional details regarding stock compensation refer to Note 9 , "Stock Based Compensation".) |
Income Taxes
Income Taxes | 9 Months Ended |
Sep. 30, 2017 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | INCOME TAXES Spok files a consolidated U.S. Federal income tax return and income tax returns in various state, local and foreign jurisdictions as required. At September 30, 2017 , we had total deferred income tax assets ("DTAs") of $72.0 million and no valuation allowance. This reflects a change from the December 31, 2016 balance of DTAs of $73.1 million and no valuation allowance. The change from December 31, 2016 to September 30, 2017 reflects the expected usage of the DTAs to offset expected 2017 taxable income and changes in tax rates. We consider both positive and negative evidence when evaluating the recoverability of our DTAs. The assessment is required to determine whether based on all available evidence, it is more likely than not (i.e., greater than a 50% probability) whether all or some portion of the DTAs will be realized in the future. During the fourth quarter of each year, we update our multi-year forecast of taxable income for our operations which assists in analyzing the recoverability of our DTAs. The anticipated effective income tax rate is expected to continue to differ from the Federal statutory rate of 35% primarily due to the effect of state income taxes, research and development credits, permanent differences between book and taxable income and certain discrete items. Our investment in research and development qualifies for the research and development income tax credit under Section 41 of the Internal Revenue code. Unused research and development tax credits have a 20-year carryover and will provide future tax benefits once Spok’s net operating losses are fully utilized. Of the total $1.3 million credit, $0.1 million relates to 2015, $0.3 million relates to 2016, and the remaining amount relates to 2017. As of January 1, 2017, we had approximately $126 million of Federal Net Operating Losses ("NOLs") available to offset future taxable income. |
Stock Based Compensation
Stock Based Compensation | 9 Months Ended |
Sep. 30, 2017 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Stock Based Compensation | STOCK BASED COMPENSATION We record all stock-based awards, which consist of RSUs, restricted stock and the option to purchase common stock under the ESPP, at fair value as of the grant date. Stock based compensation expense is recognized based on a straight-line amortization basis over the respective service period. Forfeitures and withdrawals are accounted for on an as incurred basis. The following table reflects the items for stock based compensation expense on the condensed consolidated statements of income for the periods stated: For the Three Months Ended September 30, For the Nine Months Ended September 30, (Dollars in thousands) 2017 2016 2017 2016 2015 LTIP (performance-based) $ 388 $ 584 $ 1,385 $ 1,737 Time-based awards (including 2017 LTIP) 358 — 1,073 — ESPP 16 9 46 9 Board of Directors restricted stock 100 107 311 321 Total stock based compensation expense $ 862 $ 700 $ 2,815 $ 2,067 In the fourth quarter of 2016 we determined that only 50% of the 2015 and 2016 grants made under the 2015 LTIP are expected to vest based on the related performance criteria and our assessment of the anticipated future performance applied to the performance criteria. As such, expenses listed in the table above reflect only the portion of grants and related expense that we anticipate will vest for those awards. |
Commitments and Contingencies
Commitments and Contingencies | 9 Months Ended |
Sep. 30, 2017 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | COMMITMENTS AND CONTINGENCIES There have been no material changes during the nine months ended September 30, 2017 to the commitments and contingencies previously reported in the 2016 Annual Report. |
Related Parties
Related Parties | 9 Months Ended |
Sep. 30, 2017 | |
Related Party Transactions [Abstract] | |
Related Parties | RELATED PARTIES A member of our Board of Directors also serves as a director for an entity that leases transmission tower sites to the Company. For the three months ended September 30, 2017 and 2016 , we incurred site rent expenses of $0.9 million and $1.0 million , respectively, and for the nine months ended September 30, 2017 and 2016 , we incurred site rent expenses of $2.9 million from the entity on which the individual serves as a director. Site rent expenses are included in service, rental and maintenance expenses. |
Organization and Significant 16
Organization and Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2017 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Basis of Presentation | Basis of Presentation The accompanying condensed consolidated financial statements include our accounts and the accounts of our wholly-owned direct and indirect subsidiaries. All significant intercompany accounts and transactions have been eliminated in consolidation. Our condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) and the rules and regulations of the United States Securities and Exchange Commission (the “SEC”). In management's opinion, the unaudited condensed consolidated financial statements include all adjustments and accruals that are necessary for a fair presentation of the results of all interim periods reported herein and all such adjustments are of a normal, recurring nature. Amounts shown on the condensed consolidated statements of income within the operating expense categories of Cost of Revenue; Research and Development; Service, Rental and Maintenance; Selling and Marketing; and General and Administrative are recorded exclusive of depreciation, amortization and accretion. These items are shown separately on the condensed consolidated statements of income within operating expenses. Foreign currency translation adjustments were immaterial and are not presented separately in our condensed consolidated financial statements and consequently no statements of comprehensive income are presented. Certain prior period amounts in the condensed consolidated financial statements have been reclassified to conform to the current period's presentation. These reclassifications had no effect on the reported results of operations or the statement of financial position. In the fourth quarter 2016, the Company concluded that it was appropriate to separately state those operating expenses related to research and development. Previously those expenses had been classified under the Service, Rental and Maintenance operating category. Corresponding reclassifications were made to the Condensed Consolidated Statements of Income for the three and nine months ended September 30, 2016 . This change in classification has no effect on the previously reported Condensed Consolidated Statements of Income for any period. The financial information included herein, other than the Condensed Consolidated Balance Sheet as of December 31, 2016 , is unaudited. The Condensed Consolidated Balance Sheet at December 31, 2016 has been derived from, but does not include, all the disclosures contained in the audited consolidated financial statements as of and for the year ended December 31, 2016 . These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and accompanying notes included in the Company's Annual Report on Form 10-K for the year ended December 31, 2016 (the “ 2016 Annual Report”). The Condensed Consolidated Statements of Income for the interim periods presented are not necessarily indicative of the results that may be expected for a full year. |
Use of Estimates | Use of Estimates The preparation of these condensed consolidated financial statements requires management to make estimates and judgments that affect the reported amounts of assets, liabilities, revenues, expenses and related disclosures. On an on-going basis, we evaluate estimates and assumptions, including, but not limited to, those related to the impairment of long-lived assets; intangible assets subject to amortization and goodwill; accounts receivable allowances; revenue recognition; depreciation expense; asset retirement obligations; severance and income taxes. We base our estimates on historical experience and various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates under different assumptions or conditions. |
Consolidated Financial Statem17
Consolidated Financial Statement Components (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Supplemental Financial Statement Components [Abstract] | |
Prepaid Expenses and Other | Prepaid expenses and other consisted of the following as of the date stated: (Dollars in thousands) September 30, 2017 December 31, 2016 Prepaid repairs and maintenance $ 2,517 $ 1,561 Prepaid commissions 1,622 594 Prepaid taxes 862 100 Other prepaid expenses 1,636 2,129 Total prepaid expenses and other $ 6,637 $ 4,384 |
Summary of Depreciation, Amortization and Accretion | Depreciation, amortization and accretion expenses consisted of the following for the periods stated: For the Three Months Ended September 30, For the Nine Months Ended September 30, (Dollars in thousands) 2017 2016 2017 2016 Depreciation Leasehold improvements $ 50 $ 47 $ 175 $ 145 Asset retirement costs (97 ) (69 ) (292 ) (209 ) Paging and computer equipment 1,990 2,015 6,077 6,010 Furniture, fixtures and vehicles 66 73 207 221 Total depreciation 2,009 2,066 6,167 6,167 Amortization 625 1,007 2,261 3,153 Accretion 141 156 421 467 Total depreciation, amortization and accretion expense $ 2,775 $ 3,229 $ 8,849 $ 9,787 |
Property, Plant and Equipment | Property and equipment, net consisted of the following as of the date stated: (Dollars in thousands) Useful Life September 30, 2017 December 31, 2016 Leasehold improvements shorter of useful life or lease term $ 4,083 $ 3,843 Asset retirement costs 1-5 3,289 3,263 Paging and computer equipment 1-5 112,827 113,175 Furniture, fixtures and vehicles 3-5 4,551 2,852 Total property and equipment 124,750 123,133 Accumulated depreciation (111,044 ) (110,315 ) Total property and equipment, net $ 13,706 $ 12,818 |
Components of Other Current Liabilities | Other current liabilities consisted of the following as of the date stated: (Dollars in thousands) September 30, 2017 December 31, 2016 Accrued outside services $ 999 $ 975 Accrued network costs 630 773 Accrued accounting and legal 277 467 Asset retirement obligations 235 85 Deferred rent and other 44 433 Total other current liabilities $ 2,185 $ 2,733 |
Summary of Other Non-Current Liabilities | Other non-current liabilities consisted of the following as of the date stated: (Dollars in thousands) September 30, 2017 December 31, 2016 Asset retirement obligations $ 7,580 $ 7,472 Deferred rent and other 872 942 Dividends payable 168 507 Total other non-current liabilities $ 8,620 $ 8,921 |
Intangible Assets, Net (Tables)
Intangible Assets, Net (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Net Consolidated Balance of Amortizable Intangible Assets | The net consolidated balance of intangible assets consisted of the following at September 30, 2017 : September 30, 2017 (Dollars in thousands) Useful Life Gross Carrying Accumulated Net Balance Customer relationships 10 $ 25,002 $ (16,460 ) $ 8,542 Total amortizable intangible assets 10 $ 25,002 $ (16,460 ) $ 8,542 |
Estimated Amortization of Intangible Assets | Estimated amortization of intangible assets for future periods was as follows: (Dollars in thousands) For the remaining three months ending December 31, 2017 $ 625 For the year ending December 31: 2018 2,500 2019 2,500 2020 2,500 2021 417 Total amortizable intangible assets $ 8,542 |
Asset Retirement Obligations (T
Asset Retirement Obligations (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Asset Retirement Obligation Disclosure [Abstract] | |
Changes in Asset Retirement Obligation Liabilities | The components of the changes in the asset retirement obligation liabilities were: (Dollars in thousands) Short-Term Long-Term Total Balance at January 1, 2017 $ 85 $ 7,472 $ 7,557 Accretion 6 415 421 Amounts paid (189 ) — (189 ) Asset additions recorded, net — 26 26 Reclassifications 333 (333 ) — Balance at September 30, 2017 $ 235 $ 7,580 $ 7,815 |
Stockholders' Equity (Tables)
Stockholders' Equity (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Equity [Abstract] | |
Changes in Stockholders' Equity | Changes in stockholders’ equity for the nine months ended September 30, 2017 consisted of the following: (Dollars in thousands) Balance at January 1, 2017 $ 322,087 Net income for the nine months ended September 30, 2017 6,078 Cash dividends declared (7,776 ) Common stock repurchase program (10,024 ) Amortization of stock based compensation 2,815 Other 189 Balance at September 30, 2017 $ 313,369 |
Cash Dividends Declared | The following table details our cash dividend payments made in 2017 . Cash dividends paid as disclosed in the condensed consolidated statements of cash flows for the nine months ended September 30, 2017 and 2016 include previously declared cash dividends on shares of vested restricted common stock ("restricted stock") issued to our non-executive directors and dividends related to vested restricted stock units ("RSUs") issued to eligible employees. Cash dividends on RSUs and restricted stock have been accrued and are paid when the applicable vesting conditions are met. Accrued cash dividends on forfeited restricted stock and RSUs are also forfeited. Declaration Date Record Date Payment Date Per Share Amount Total Payment (1) (Dollars in thousands) December 20, 2016 January 4, 2017 January 17, 2017 $ 0.250 $ 5,128 March 1, 2017 March 17, 2017 March 30, 2017 0.125 2,566 April 26, 2017 May 23, 2017 June 23, 2017 0.125 2,545 July 26, 2017 August 18, 2017 September 8, 2017 0.125 2,494 Total $ 0.625 $ 12,733 (1) The total payment reflects the cash dividends paid in relation to common stock and vested restricted stock. |
Share Repurchase Plan | The following table presents information with respect to purchases made by the Company during the nine months ended September 30, 2017 : Period Total Number of Shares Purchased Average Price Paid Per Share Total Number of Shares Purchased as Part of the Publicly Announced Plans or Programs Approximate Dollar Value of Shares That May Yet Be Purchased Under the Publicly Announced Plans or Programs (Dollars in thousands) Beginning Balance $ 10,000 Three Months Ended June 30, 2017 572,550 17.47 572,550 — Total 572,550 $ 17.47 572,550 |
Basic and Diluted Net Income Per Common Shares | The components of basic and diluted net income per common share were as follows for the periods stated: For the Three Months Ended September 30, For the Nine Months Ended September 30, (in thousands, except for share and per share amounts) 2017 2016 2017 2016 Numerator: Net income $ 3,727 $ 4,058 $ 6,078 $ 10,953 Denominator: Weighted average shares used to compute net income per common share - basic 19,977,263 20,541,275 20,285,240 20,604,905 Weighted average shares used to compute net income per common share - diluted 20,008,321 20,541,275 20,362,774 20,604,905 Basic and diluted net income per common share $ 0.19 $ 0.20 $ 0.30 $ 0.53 |
Activities Under Equity Plan | The following table summarizes the activities under the 2012 Equity Incentive Award Plan ("2012 Equity Plan") from January 1, 2017 through September 30, 2017 : Activity Total equity securities available at January 1, 2017 1,246,939 Less: 2015 performance-based LTIP RSUs awarded to eligible employees, net of forfeitures 87,594 Less: Time-based RSUs awarded to eligible employees (including 2017 LTIP), net of forfeitures 122,629 Less: Restricted stock awarded to non-executive members of the Board of Directors 15,271 Total equity securities available at September 30, 2017 1,021,445 No shares were purchased for the three months ended September 30, 2017 or during the corresponding period in 2016. For the nine months ended September 30, 2017 , 8,983 shares of common stock were purchased for a total cost of $0.1 million . No shares were purchased during the corresponding time periods in 2016. The following table summarizes the activities under the ESPP from January 1, 2017 through September 30, 2017 : Activity Total ESPP equity securities available at January 1, 2017 246,039 Less: ESPP common stock purchased by eligible employees 8,983 Total ESPP securities available at September 30, 2017 237,056 |
Summary of Outstanding RSUs under 2011 LTIP | The following table details activities with respect to RSUs issued and outstanding under the 2017 time based LTIP grant for the nine months ended September 30, 2017 : Shares Weighted- Average Grant Date Fair Value Total Unrecognized Compensation Cost Weighted-Average Period Over Which Cost is Expected to be Recognized (In months) Non-vested RSUs at January 1, 2017 — $ — Granted 118,433 20.52 Vested — — Forfeited (8,339 ) 20.75 Non-vested RSUs at September 30, 2017 110,094 $ 20.50 $ 1,234 15 The following table details activities with respect to RSUs issued and outstanding under the 2015 LTIP for the nine months ended September 30, 2017 : Shares Weighted- Total Unrecognized Compensation Cost Weighted-Average Non-vested RSUs at January 1, 2017 451,493 $ 17.10 Granted 118,467 20.52 Vested — — Forfeited (30,873 ) 18.02 Non-vested RSUs at September 30, 2017 539,087 $ 17.80 $ 2,576 15 |
Stock Based Compensation (Table
Stock Based Compensation (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Stock Based Compensation Expense | The following table reflects the items for stock based compensation expense on the condensed consolidated statements of income for the periods stated: For the Three Months Ended September 30, For the Nine Months Ended September 30, (Dollars in thousands) 2017 2016 2017 2016 2015 LTIP (performance-based) $ 388 $ 584 $ 1,385 $ 1,737 Time-based awards (including 2017 LTIP) 358 — 1,073 — ESPP 16 9 46 9 Board of Directors restricted stock 100 107 311 321 Total stock based compensation expense $ 862 $ 700 $ 2,815 $ 2,067 |
Organization and Significant 22
Organization and Significant Accounting Policies (Detail) | 9 Months Ended |
Sep. 30, 2017message | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Monthly messages sent through company solutions | 100,000,000 |
Consolidated Financial Statem23
Consolidated Financial Statement Components - Prepaid Expenses and Other (Detail) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Supplemental Financial Statement Components [Abstract] | ||
Prepaid repairs and maintenance | $ 2,517 | $ 1,561 |
Prepaid commissions | 1,622 | 594 |
Prepaid taxes | 862 | 100 |
Other prepaid expenses | 1,636 | 2,129 |
Total prepaid expenses and other | $ 6,637 | $ 4,384 |
Consolidated Financial Statem24
Consolidated Financial Statement Components - Property and Equipment, Net (Detail) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2017 | Dec. 31, 2016 | |
Property, Plant and Equipment [Line Items] | ||
Accounts receivable allowance | $ 1,200 | $ 1,100 |
Total property and equipment | 124,750 | 123,133 |
Accumulated depreciation | (111,044) | (110,315) |
Total property and equipment, net | 13,706 | 12,818 |
Leasehold improvements | ||
Property, Plant and Equipment [Line Items] | ||
Total property and equipment | 4,083 | 3,843 |
Asset retirement costs | ||
Property, Plant and Equipment [Line Items] | ||
Total property and equipment | $ 3,289 | 3,263 |
Asset retirement costs | Minimum | ||
Property, Plant and Equipment [Line Items] | ||
Useful Life | 1 year | |
Asset retirement costs | Maximum | ||
Property, Plant and Equipment [Line Items] | ||
Useful Life | 5 years | |
Paging and computer equipment | ||
Property, Plant and Equipment [Line Items] | ||
Total property and equipment | $ 112,827 | 113,175 |
Paging and computer equipment | Minimum | ||
Property, Plant and Equipment [Line Items] | ||
Useful Life | 1 year | |
Paging and computer equipment | Maximum | ||
Property, Plant and Equipment [Line Items] | ||
Useful Life | 5 years | |
Furniture, fixtures and vehicles | ||
Property, Plant and Equipment [Line Items] | ||
Total property and equipment | $ 4,551 | $ 2,852 |
Furniture, fixtures and vehicles | Minimum | ||
Property, Plant and Equipment [Line Items] | ||
Useful Life | 3 years | |
Furniture, fixtures and vehicles | Maximum | ||
Property, Plant and Equipment [Line Items] | ||
Useful Life | 5 years |
Consolidated Financial Statem25
Consolidated Financial Statement Components - Depreciation, Amortization and Accretion (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Property, Plant and Equipment [Line Items] | ||||
Depreciation | $ 2,009 | $ 2,066 | $ 6,167 | $ 6,167 |
Amortization | 625 | 1,007 | 2,261 | 3,153 |
Accretion | 141 | 156 | 421 | 467 |
Total depreciation, amortization and accretion expense | 2,775 | 3,229 | 8,849 | 9,787 |
Leasehold improvements | ||||
Property, Plant and Equipment [Line Items] | ||||
Depreciation | 50 | 47 | 175 | 145 |
Asset retirement costs | ||||
Property, Plant and Equipment [Line Items] | ||||
Depreciation | (97) | (69) | (292) | (209) |
Paging and computer equipment | ||||
Property, Plant and Equipment [Line Items] | ||||
Depreciation | 1,990 | 2,015 | 6,077 | 6,010 |
Furniture, fixtures and vehicles | ||||
Property, Plant and Equipment [Line Items] | ||||
Depreciation | $ 66 | $ 73 | $ 207 | $ 221 |
Consolidated Financial Statem26
Consolidated Financial Statement Components - Other Current Liabilities (Detail) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Supplemental Balance Sheet Information [Abstract] | ||
Accrued outside services | $ 999 | $ 975 |
Accrued network costs | 630 | 773 |
Accrued accounting and legal | 277 | 467 |
Asset retirement obligations | 235 | 85 |
Deferred rent and other | 44 | 433 |
Total other current liabilities | $ 2,185 | $ 2,733 |
Consolidated Financial Statem27
Consolidated Financial Statement Components - Other Non-current Liabilities (Detail) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Supplemental Balance Sheet Information [Abstract] | ||
Asset retirement obligations | $ 7,580 | $ 7,472 |
Deferred rent and other | 872 | 942 |
Dividends payable | 168 | 507 |
Total other long-term liabilities | $ 8,620 | $ 8,921 |
Intangible Assets, Net - Additi
Intangible Assets, Net - Additional Information (Detail) | 9 Months Ended |
Sep. 30, 2017 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Useful Life (In Years) | 10 years |
Intangible Assets, Net - Net Co
Intangible Assets, Net - Net Consolidated Balance of Amortizable Intangible Assets (Detail) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2017 | Dec. 31, 2016 | |
Finite-Lived Intangible Assets [Line Items] | ||
Useful Life (In Years) | 10 years | |
Gross Carrying Amount | $ 25,002 | |
Accumulated Amortization | (16,460) | |
Total amortizable intangible assets | $ 8,542 | $ 10,803 |
Customer relationships | ||
Finite-Lived Intangible Assets [Line Items] | ||
Useful Life (In Years) | 10 years | |
Gross Carrying Amount | $ 25,002 | |
Accumulated Amortization | (16,460) | |
Total amortizable intangible assets | $ 8,542 |
Intangible Assets, Net - Estima
Intangible Assets, Net - Estimated Amortization of Intangible Assets (Detail) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Goodwill and Intangible Assets Disclosure [Abstract] | ||
For the remaining three months ending December 31, 2017 | $ 625 | |
2,018 | 2,500 | |
2,019 | 2,500 | |
2,020 | 2,500 | |
2,021 | 417 | |
Total amortizable intangible assets | $ 8,542 | $ 10,803 |
Asset Retirement Obligations -
Asset Retirement Obligations - Changes in Asset Retirement Obligation Liabilities (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | ||||
Balance at January 1, 2017 | $ 7,557 | |||
Accretion | $ 141 | $ 156 | 421 | $ 467 |
Amounts paid | (189) | |||
Asset additions recorded, net | 26 | |||
Reclassifications | 0 | |||
Balance at September 30, 2017 | 7,815 | 7,815 | ||
Short-Term Portion | ||||
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | ||||
Balance at January 1, 2017 | 85 | |||
Accretion | 6 | |||
Amounts paid | (189) | |||
Asset additions recorded, net | 0 | |||
Reclassifications | 333 | |||
Balance at September 30, 2017 | 235 | 235 | ||
Long-Term Portion | ||||
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | ||||
Balance at January 1, 2017 | 7,472 | |||
Accretion | 415 | |||
Amounts paid | 0 | |||
Asset additions recorded, net | 26 | |||
Reclassifications | (333) | |||
Balance at September 30, 2017 | $ 7,580 | $ 7,580 |
Asset Retirement Obligations 32
Asset Retirement Obligations - Additional Information (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Asset Retirement Obligation Disclosure [Abstract] | ||||
Estimated liability | $ 9,000 | $ 9,000 | ||
Accretion | $ 141 | $ 156 | $ 421 | $ 467 |
Stockholders' Equity - Addition
Stockholders' Equity - Additional Information (Detail) - USD ($) | Jan. 02, 2017 | Jan. 28, 2016 | Jan. 02, 2015 | Dec. 09, 2014 | Jun. 30, 2017 | Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | Dec. 31, 2016 | Dec. 31, 2015 | Oct. 25, 2017 | Jul. 24, 2017 | Apr. 26, 2017 | Jul. 25, 2016 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||
Common stock authorized (shares) | 75,000,000 | 75,000,000 | |||||||||||||
Common stock par value (usd per share) | $ 0.0001 | $ 0.0001 | |||||||||||||
Preferred stock authorized (shares) | 25,000,000 | 25,000,000 | |||||||||||||
Preferred stock par value (usd per share) | $ 0.0001 | $ 0.0001 | |||||||||||||
Options outstanding (shares) | 0 | 0 | 0 | ||||||||||||
Common stock outstanding (shares) | 19,977,318 | 19,977,318 | 20,525,614 | ||||||||||||
Preferred stock outstanding (shares) | 0 | 0 | 0 | ||||||||||||
Stock repurchase authority | $ 10,000,000 | ||||||||||||||
Amount spent to repurchase common stock | $ 10,000,000 | $ 10,024,000 | |||||||||||||
Subsequent Event | |||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||
Dividend rate (usd per share) | $ 0.125 | ||||||||||||||
Dividends declared | $ 2,500,000 | ||||||||||||||
ESPP | |||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||
Number of shares authorized (shares) | 237,056 | 237,056 | 246,039 | 250,000 | |||||||||||
Award required holding period | 2 years | ||||||||||||||
Stock purchased during period (shares) | 0 | 0 | 8,983 | 0 | |||||||||||
Proceeds from issuance of common stock | $ 100,000 | ||||||||||||||
2015 LTIP (performance-based) | Restricted Stock Units | |||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||
Vesting period | 36 months | ||||||||||||||
Granted (shares) | 118,467 | ||||||||||||||
2012 Equity Plan | |||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||
Number of shares authorized (shares) | 1,021,445 | 1,021,445 | 1,246,939 | ||||||||||||
2012 Equity Plan | Restricted Stock Units | |||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||
Granted (shares) | 122,629 | ||||||||||||||
Time-based awards (including 2017 LTIP) | Restricted Stock Units | |||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||
Granted (shares) | 118,433 | ||||||||||||||
January 2, 2015 | 2015 LTIP (performance-based) | Restricted Stock Units | |||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||
Granted (shares) | 254,777 | ||||||||||||||
Granted | $ 4,400,000 | ||||||||||||||
January 28, 2016 | 2015 LTIP (performance-based) | Restricted Stock Units | |||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||
Granted (shares) | 227,082 | ||||||||||||||
Granted | $ 3,800,000 | ||||||||||||||
January 2, 2017 | 2015 LTIP (performance-based) | Restricted Stock Units | |||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||
Granted (shares) | 108,428 | ||||||||||||||
Granted | $ 2,200,000 | ||||||||||||||
January 2, 2017 | Time-based awards (including 2017 LTIP) | Restricted Stock Units | |||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||
Granted (shares) | 108,394 | ||||||||||||||
Granted | $ 2,200,000 | ||||||||||||||
Award vesting percentage | 33.00% | ||||||||||||||
Non-Employee Directors | 2012 Equity Plan | |||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||
Annual limit to the value of awards granted | $ 750,000 | ||||||||||||||
New Employees or Promoted Employees | 2015 LTIP (performance-based) | Restricted Stock Units | |||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||
Granted (shares) | 7,629 | ||||||||||||||
New Employees or Promoted Employees | January 2, 2015 | 2015 LTIP (performance-based) | Restricted Stock Units | |||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||
Granted (shares) | 6,123 | ||||||||||||||
New Employees or Promoted Employees | January 2, 2017 | 2015 LTIP (performance-based) | Restricted Stock Units | |||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||
Granted (shares) | 10,039 | ||||||||||||||
New Employees or Promoted Employees | January 2, 2017 | Time-based awards (including 2017 LTIP) | Restricted Stock Units | |||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||
Granted (shares) | 10,039 | ||||||||||||||
Maximum | ESPP | |||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||
Offering period, maximum | 6 months |
Stockholders' Equity - Changes
Stockholders' Equity - Changes in Stockholders' Equity (Detail) - USD ($) $ in Thousands | 2 Months Ended | 3 Months Ended | 9 Months Ended | ||
Jun. 30, 2017 | Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Balance at January 1, 2017 | $ 322,087 | ||||
Net income for the nine months ended September 30, 2017 | $ 3,727 | $ 4,058 | 6,078 | $ 10,953 | |
Cash dividends declared | (7,776) | ||||
Common stock repurchase program | $ (10,000) | (10,024) | |||
Amortization of stock based compensation | 2,815 | ||||
Other | 189 | ||||
Balance at September 30, 2017 | $ 313,369 | $ 313,369 |
Stockholders' Equity - Cash Div
Stockholders' Equity - Cash Dividends Declared to Stockholders (Detail) - Common Stock $ / shares in Units, $ in Thousands | 9 Months Ended |
Sep. 30, 2017USD ($)$ / shares | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Per Share Amount (usd per share) | $ / shares | $ 0.625 |
Total Payment | $ | $ 12,733 |
Installment One | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Declaration Date | Dec. 20, 2016 |
Record Date | Jan. 4, 2017 |
Payment Date | Jan. 17, 2017 |
Per Share Amount (usd per share) | $ / shares | $ 0.25 |
Total Payment | $ | $ 5,128 |
Installment Two | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Declaration Date | Mar. 1, 2017 |
Record Date | Mar. 17, 2017 |
Payment Date | Mar. 30, 2017 |
Per Share Amount (usd per share) | $ / shares | $ 0.125 |
Total Payment | $ | $ 2,566 |
Installment Three | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Declaration Date | Apr. 26, 2017 |
Record Date | May 23, 2017 |
Payment Date | Jun. 23, 2017 |
Per Share Amount (usd per share) | $ / shares | $ 0.125 |
Total Payment | $ | $ 2,545 |
Installment Four | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Declaration Date | Jul. 26, 2017 |
Record Date | Aug. 18, 2017 |
Payment Date | Sep. 8, 2017 |
Per Share Amount (usd per share) | $ / shares | $ 0.125 |
Total Payment | $ | $ 2,494 |
Stockholders' Equity - Treasury
Stockholders' Equity - Treasury Stock (Detail) - USD ($) $ / shares in Units, $ in Thousands | 9 Months Ended | |
Sep. 30, 2017 | Dec. 31, 2016 | |
Total Number of Shares Purchased | ||
Total number of shares purchased, beginning balance (shares) | ||
Shares purchased during period (shares) | 572,550 | |
Total number of shares purchased,ending balance (shares) | 572,550 | |
Average price paid per share, beginning balance (usd per share) | ||
Average price paid per share (usd per share) | 17.47 | |
Average price paid per share, ending balance (usd per share) | $ 17.47 | |
Approximate dollar value of shares that may yet be purchased under the publicly announced plans or programs | $ 10,000 | |
Common Stock Repurchase Program | ||
Total Number of Shares Purchased | ||
Total number of shares purchased, beginning balance (shares) | ||
Shares purchased during period (shares) | 572,550 | |
Total number of shares purchased,ending balance (shares) | 572,550 |
Stockholders' Equity - Basic an
Stockholders' Equity - Basic and Diluted Net Income Per Common Shares (Detail) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Numerator: | ||||
Net income | $ 3,727 | $ 4,058 | $ 6,078 | $ 10,953 |
Denominator: | ||||
Weighted average shares used to compute net income per common share - basic (shares) | 19,977,263 | 20,541,275 | 20,285,240 | 20,604,905 |
Weighted average shares used to compute net income per common share - diluted (shares) | 20,008,321 | 20,541,275 | 20,362,774 | 20,604,905 |
Basic and diluted net income per common share (usd per share) | $ 0.19 | $ 0.20 | $ 0.30 | $ 0.53 |
Stockholders' Equity - Activiti
Stockholders' Equity - Activities Under Equity Plan (Detail) - shares | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
2012 Equity Plan | ||||
Share-based Compensation Arrangement By Share-based Payment Award, Shares Authorized [Roll Forward] | ||||
Total securities available at January 1, 2017 | 1,246,939 | |||
Total securities available at September 30, 2017 | 1,021,445 | 1,021,445 | ||
ESPP | ||||
Share-based Compensation Arrangement By Share-based Payment Award, Shares Authorized [Roll Forward] | ||||
Total securities available at January 1, 2017 | 246,039 | |||
Less: stock purchased by eligible employees, net of forfeitures (shares) | 0 | 0 | 8,983 | 0 |
Total securities available at September 30, 2017 | 237,056 | 237,056 | ||
Restricted Stock Units | 2012 Equity Plan | ||||
Share-based Compensation Arrangement By Share-based Payment Award, Shares Authorized [Roll Forward] | ||||
Less: Restricted stock awarded to eligible employees, net of forfeitures (shares) | 122,629 | |||
Eligible Employees | Restricted Stock Units | 2012 Equity Plan | ||||
Share-based Compensation Arrangement By Share-based Payment Award, Shares Authorized [Roll Forward] | ||||
Less: Restricted stock awarded to eligible employees, net of forfeitures (shares) | 87,594 | |||
Board Of Directors | Restricted Stock | 2012 Equity Plan | ||||
Share-based Compensation Arrangement By Share-based Payment Award, Shares Authorized [Roll Forward] | ||||
Less: Restricted stock awarded to eligible employees, net of forfeitures (shares) | 15,271 |
Stockholders' Equity - Summary
Stockholders' Equity - Summary of Outstanding RSUs (Detail) - Restricted Stock Units $ / shares in Units, $ in Thousands | 9 Months Ended |
Sep. 30, 2017USD ($)$ / sharesshares | |
2015 LTIP (performance-based) | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | |
Beginning Balance (shares) | shares | 451,493 |
Granted (shares) | shares | 118,467 |
Vested (shares) | shares | 0 |
Forfeited (shares) | shares | (30,873) |
Ending Balance (shares) | shares | 539,087 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract] | |
Beginning Balance, Weighted Average Grant Date Fair Value (usd per share) | $ / shares | $ 17.10 |
Granted, Weighted Average Grant Date Fair Value (usd per share) | $ / shares | 20.52 |
Vested, Weighted Average Grant Date Fair Value (usd per share) | $ / shares | 0 |
Forfeited, Weighted Average Grant Date Fair Value (usd per share) | $ / shares | 18.02 |
Ending Balance, Weighted Average Grant Date Fair Value (usd per share) | $ / shares | $ 17.80 |
Total Unrecognized Compensation Cost (net of estimated forfeitures) | $ | $ 2,576 |
Weighted-Average Period Over Which Cost is Expected to be Recognized | 15 months |
Time-based awards (including 2017 LTIP) | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | |
Beginning Balance (shares) | shares | 0 |
Granted (shares) | shares | 118,433 |
Vested (shares) | shares | 0 |
Forfeited (shares) | shares | (8,339) |
Ending Balance (shares) | shares | 110,094 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract] | |
Beginning Balance, Weighted Average Grant Date Fair Value (usd per share) | $ / shares | $ 0 |
Granted, Weighted Average Grant Date Fair Value (usd per share) | $ / shares | 20.52 |
Vested, Weighted Average Grant Date Fair Value (usd per share) | $ / shares | 0 |
Forfeited, Weighted Average Grant Date Fair Value (usd per share) | $ / shares | 20.75 |
Ending Balance, Weighted Average Grant Date Fair Value (usd per share) | $ / shares | $ 20.50 |
Total Unrecognized Compensation Cost (net of estimated forfeitures) | $ | $ 1,234 |
Weighted-Average Period Over Which Cost is Expected to be Recognized | 15 months |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Detail) - USD ($) | 9 Months Ended | |
Sep. 30, 2017 | Dec. 31, 2016 | |
Income Tax Disclosure [Abstract] | ||
Deferred income tax assets | $ 71,973,000 | $ 73,068,000 |
Valuation allowance | $ 0 | 0 |
Federal income tax at statutory rate | 35.00% | |
Tax Credit Carryforward [Line Items] | ||
Approximate Federal net operating losses (NOLs) available to offset future taxable income | $ 126,000,000 | |
Research Tax Credit Carryforward [Member] | ||
Tax Credit Carryforward [Line Items] | ||
Tax credit carryforward | $ 1,300,000 | |
Research Tax Credit Carryforward [Member] | Tax Year 2015 [Member] | ||
Tax Credit Carryforward [Line Items] | ||
Tax credit carryforward | 100,000 | |
Research Tax Credit Carryforward [Member] | Tax Year 2016 [Member] | ||
Tax Credit Carryforward [Line Items] | ||
Tax credit carryforward | $ 300,000 |
Stock Based Compensation (Detai
Stock Based Compensation (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | Dec. 31, 2016 | |
Share based Compensation Allocation of Recognized Period Cost [Line Items] | |||||
Total stock based compensation expense | $ 862 | $ 700 | $ 2,815 | $ 2,067 | |
Expected vesting percent | 50.00% | ||||
2015 LTIP (performance-based) | |||||
Share based Compensation Allocation of Recognized Period Cost [Line Items] | |||||
Total stock based compensation expense | 388 | 584 | 1,385 | 1,737 | |
Time-based awards (including 2017 LTIP) | |||||
Share based Compensation Allocation of Recognized Period Cost [Line Items] | |||||
Total stock based compensation expense | 358 | 0 | 1,073 | 0 | |
ESPP | |||||
Share based Compensation Allocation of Recognized Period Cost [Line Items] | |||||
Total stock based compensation expense | 16 | 9 | 46 | 9 | |
Board Of Directors | Board of Directors restricted stock | Restricted Stock | |||||
Share based Compensation Allocation of Recognized Period Cost [Line Items] | |||||
Total stock based compensation expense | $ 100 | $ 107 | $ 311 | $ 321 |
Related Parties - Additional In
Related Parties - Additional Information (Detail) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Director | ||||
Related Party Transaction [Line Items] | ||||
Site rent expense | $ 0.9 | $ 1 | $ 2.9 | $ 2.9 |