Document and Entity Information
Document and Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2019 | Mar. 27, 2020 | Jun. 30, 2019 | |
Entity Information [Line Items] | |||
Entity Central Index Key | 0000020520 | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Filer Category | Accelerated Filer | ||
Entity Public Float | $ 181,402,000 | ||
Entity Common Stock, Shares Outstanding | 104,987,947 | ||
Document Fiscal Year Focus | 2019 | ||
Document Fiscal Period Focus | FY | ||
Document Annual Report | true | ||
Document Type | 10-K | ||
Amendment Flag | false | ||
Document Period End Date | Dec. 31, 2019 | ||
Document Transition Report | false | ||
Entity File Number | 001-11001 | ||
Entity Registrant Name | FRONTIER COMMUNICATIONS CORP | ||
Entity Incorporation, State or Country Code | DE | ||
Entity Tax Identification Number | 06-0619596 | ||
Entity Address, Address Line One | 401 Merritt 7 | ||
Entity Address, City or Town | Norwalk | ||
Entity Address, State or Province | CT | ||
Entity Address, Postal Zip Code | 06851 | ||
City Area Code | 203 | ||
Local Phone Number | 614-5600 | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Interactive Data Current | Yes | ||
Entity Small Business | true | ||
Entity Emerging Growth Company | false | ||
Entity Shell Company | false | ||
Documents Incorporated by Reference | Items 10, 11, 12, 13 and 14 of Part III will be incorporated by reference from a Form 10K/A to be filed with the Securities and Exchange Commission. | ||
Common Stock [Member] | |||
Entity Information [Line Items] | |||
Title of 12(b) Security | Common Stock, par value $0.25 per share | ||
Trading Symbol | FTR | ||
Security Exchange Name | NASDAQ | ||
Preferred Stock [Member] | |||
Entity Information [Line Items] | |||
Title of 12(b) Security | Preferred Stock Purchase Rights | ||
Trading Symbol | N/A | ||
Security Exchange Name | NASDAQ |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Current assets: | ||
Cash and cash equivalents | $ 760 | $ 354 |
Accounts receivable, less allowances of $120 and $105, respectively | 629 | 723 |
Contract acquisition costs | 105 | 107 |
Prepaid expenses | 89 | 86 |
Assets held for sale | 1,401 | |
Income taxes and other current assets | 53 | 60 |
Total current assets | 3,037 | 1,330 |
Property, plant and equipment, net | 12,963 | 14,187 |
Goodwill, net | 6,383 | |
Other intangibles, net | 1,020 | 1,494 |
Other assets | 468 | 265 |
Total assets | 17,488 | 23,659 |
Current liabilities: | ||
Long-term debt due within one year | 994 | 814 |
Accounts payable | 437 | 495 |
Advanced billings | 219 | 256 |
Accrued other taxes | 206 | 182 |
Accrued interest | 407 | 381 |
Pension and other postretirement benefits | 43 | 39 |
Liabilities held for sale | 123 | |
Other current liabilities | 375 | 394 |
Total current liabilities | 2,804 | 2,561 |
Deferred income taxes | 462 | 1,109 |
Pension and other postretirement benefits | 1,896 | 1,750 |
Other liabilities | 412 | 281 |
Long-term debt | 16,308 | 16,358 |
Equity (Deficit): | ||
Common stock, $0.25 par value (175,000 authorized shares, 106,025 issued, and 105,131 and 105,536 outstanding, at December 31, 2019 and 2018, respectively) | 27 | 27 |
Additional paid-in capital | 4,815 | 4,802 |
Accumulated deficit | (8,573) | (2,752) |
Accumulated other comprehensive loss, net of tax | (650) | (463) |
Treasury common stock | (13) | (14) |
Total equity (deficit) | (4,394) | 1,600 |
Total liabilities and equity (deficit) | $ 17,488 | $ 23,659 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Consolidated Balance Sheets [Abstract] | ||
Allowances for accounts receivable, current | $ 120 | $ 105 |
Common stock, par value (in dollars per share) | $ 0.25 | $ 0.25 |
Common stock, shares authorized (in shares) | 175,000,000 | 175,000,000 |
Common stock, shares outstanding (in shares) | 105,131,000 | 105,536,000 |
Common stock, shares issued (in shares) | 106,025,000 | 106,025,000 |
Consolidated Statements Of Oper
Consolidated Statements Of Operations - USD ($) shares in Thousands, $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Consolidated Statements Of Operations [Abstract] | |||
Revenue | $ 8,107 | $ 8,611 | $ 9,128 |
Operating expenses: | |||
Network access expenses | 1,247 | 1,441 | 1,597 |
Network related expenses | 1,810 | 1,898 | 1,958 |
Selling, general and administrative expenses | 1,804 | 1,815 | 2,017 |
Depreciation and amortization | 1,780 | 1,954 | 2,184 |
Goodwill Impairment | 5,725 | 641 | 2,748 |
Loss on disposal of Northwest Operations | 446 | ||
Acquisition and integration costs | 25 | ||
Restructuring costs and other charges | 168 | 35 | 82 |
Total operating expenses | 12,980 | 7,784 | 10,611 |
Operating income (loss) | (4,873) | 827 | (1,483) |
Investment and other income (loss), net | (37) | 13 | 1 |
Pension settlement costs | 57 | 41 | 83 |
Gains (Loss) on early extinguishment of debt | (20) | 32 | (88) |
Interest expense | 1,535 | 1,536 | 1,534 |
Loss before income taxes | (6,522) | (705) | (3,187) |
Income tax benefit | (611) | (62) | (1,383) |
Net loss | (5,911) | (643) | (1,804) |
Less: Dividends on preferred stock | 107 | 214 | |
Net loss attributable to Frontier common shareholders | $ (5,911) | $ (750) | $ (2,018) |
Basic and diluted net loss per share attributable to Frontier common shareholders | $ (56.80) | $ (8.37) | $ (25.99) |
Total weighted average shares outstanding - basic and diluted | 104,065 | 89,683 | 77,736 |
Consolidated Statements Of Comp
Consolidated Statements Of Comprehensive Loss - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Consolidated Statements Of Comprehensive Loss [Abstract] | |||
Net loss | $ (5,911) | $ (643) | $ (1,804) |
Other comprehensive income (loss), net of tax | (108) | (97) | 21 |
Comprehensive loss | $ (6,019) | $ (740) | $ (1,783) |
Consolidated Statements Of Equi
Consolidated Statements Of Equity (Deficit) - USD ($) shares in Thousands, $ in Millions | Preferred Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Accumulated Deficit [Member] | Accumulated Other Comprehensive Loss [Member] | Treasury Common Stock [Member] | Total |
Cumulative-effect adjustment and impact of adoption in accounting principle | Accounting Standards Update 2016-09 [Member] | $ 1 | $ 1 | |||||
Preferred Stock Balance (in shares) at Dec. 31, 2016 | 19,250 | ||||||
Balance, beginning at Dec. 31, 2016 | $ 20 | $ 5,561 | (460) | $ (387) | $ (215) | 4,519 | |
Balance (in shares) at Dec. 31, 2016 | 79,532 | (1,362) | |||||
Stock plans | (47) | $ 64 | 17 | ||||
Stock plans (in shares) | 271 | ||||||
Dividends on common stock | (266) | (266) | |||||
Dividends on preferred stock | (214) | (214) | |||||
Net loss | (1,804) | (1,804) | |||||
Other comprehensive income (loss), net of tax | 21 | 21 | |||||
Preferred Stock Balance (in shares) at Dec. 31, 2017 | 19,250 | ||||||
Balance, ending at Dec. 31, 2017 | $ 20 | 5,034 | (2,263) | (366) | $ (151) | 2,274 | |
Balance (in shares) at Dec. 31, 2017 | 79,532 | (1,091) | |||||
Cumulative-effect adjustment and impact of adoption in accounting principle | Accounting Standards Update 2014-09 [Member] | 154 | 154 | |||||
Conversion of preferred stock, shares converted | (19,250) | ||||||
Conversion of preferred stock, amount issued | $ 7 | (7) | |||||
Conversion of preferred stock, shares issued | 25,529 | ||||||
Stock plans | (118) | $ 137 | 19 | ||||
Stock plans (in shares) | 964 | 602 | |||||
Dividends on preferred stock | (107) | (107) | |||||
Net loss | (643) | (643) | |||||
Other comprehensive income (loss), net of tax | (97) | (97) | |||||
Balance, ending at Dec. 31, 2018 | $ 27 | 4,802 | (2,752) | (463) | $ (14) | $ 1,600 | |
Balance (in shares) at Dec. 31, 2018 | 106,025 | (489) | 105,536 | ||||
Cumulative-effect adjustment and impact of adoption in accounting principle | Accounting Standards Update 2016-02 [Member] | 11 | $ 11 | |||||
Cumulative-effect adjustment and impact of adoption in accounting principle | Accounting Standards Update 2018-02 [Member] | 79 | (79) | |||||
Stock plans | 13 | $ 1 | 14 | ||||
Stock plans (in shares) | (405) | ||||||
Net loss | (5,911) | (5,911) | |||||
Other comprehensive income (loss), net of tax | (108) | (108) | |||||
Balance, ending at Dec. 31, 2019 | $ 27 | $ 4,815 | $ (8,573) | $ (650) | $ (13) | $ (4,394) | |
Balance (in shares) at Dec. 31, 2019 | 106,025 | (894) | 105,131 |
Consolidated Statements Of Eq_2
Consolidated Statements Of Equity (Deficit) (Parenthetical) - $ / shares | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Consolidated Statements Of Equity (Deficit) [Abstract] | ||
Common stock, Cash dividends declared | $ 3.42 | |
Preferred stock, Cash dividends declared | $ 5.56 | $ 11.12 |
Consolidated Statements Of Cash
Consolidated Statements Of Cash Flows - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Cash flows provided from (used by) operating activities: | |||
Net loss | $ (5,911) | $ (643) | $ (1,804) |
Adjustments to reconcile net loss to net cash provided from (used by) operating activities: | |||
Depreciation and amortization | 1,780 | 1,954 | 2,184 |
(Gain) Loss on early extinguishment of debt | 20 | (32) | 88 |
Pension settlement costs | 57 | 41 | 83 |
Special termination benefits | 44 | 5 | |
Stock-based compensation expense | 15 | 18 | 14 |
Amortization of deferred financing costs | 30 | 34 | 33 |
Other adjustments | (32) | (14) | |
Deferred income taxes | (619) | (67) | (1,385) |
Goodwill Impairment | 5,725 | 641 | 2,748 |
Loss on disposal of Northwest Operations | 446 | ||
Change in accounts receivable | 48 | 65 | 122 |
Change in accounts payable and other liabilities | (122) | (141) | (298) |
Change in prepaid expenses, income taxes and other assets | (5) | (26) | 74 |
Net cash provided from operating activities | 1,508 | 1,812 | 1,850 |
Cash flows provided from (used by) investing activities: | |||
Capital expenditures - Business operations | (1,226) | (1,192) | (1,154) |
Capital expenditures - Integration activities | (34) | ||
Proceeds on sale of assets | 88 | 11 | 110 |
Other | 4 | 5 | 24 |
Net cash used by investing activities | (1,134) | (1,176) | (1,054) |
Cash flows provided from (used by) financing activities: | |||
Long-term debt payments | (2,008) | (2,515) | (1,811) |
Proceeds from long-term debt borrowings | 1,650 | 1,840 | 1,500 |
Proceeds from revolving debt | 949 | 525 | |
Repayment of revolving debt | (475) | (250) | |
Financing costs paid | (44) | (43) | (15) |
Dividends paid on common stock | (266) | ||
Dividends paid on preferred stock | (107) | (214) | |
Premium paid to retire debt | (17) | (86) | |
Finance lease obligation payments | (35) | (36) | (42) |
Other | (5) | (5) | (8) |
Net cash provided from (used by) financing activities | 32 | (608) | (942) |
Increase (Decrease) in cash, cash equivalents and restricted cash | 406 | 28 | (146) |
Cash, cash equivalents and restricted cash at January 1, | 404 | 376 | 522 |
Cash, cash equivalents and restricted cash at December 31, | 810 | 404 | 376 |
Cash paid (received) during the period for: | |||
Interest | 1,469 | 1,507 | 1,548 |
Income tax payments (refunds), net | 4 | 4 | (51) |
Non-cash investing and financing activities: | |||
Financing obligation for contributions of real property to pension plan | 37 | ||
Reduction of pension obligation | $ 37 | ||
Increase (Decrease) in capital expenditures due to changes in accounts payable | $ 13 | $ 50 |
Description Of Business And Sum
Description Of Business And Summary Of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2019 | |
Description Of Business And Summary Of Significant Accounting Policies [Abstract] | |
Description Of Business And Summary Of Significant Accounting Policies | (1) Description of Business and Summary of Significant Accounting Policies (a) Description of Business Frontier Communications Corporation (Frontier) is a provider of communications services in the United States, with approximately 4.1 million customers, 3.5 million broadband subscribers and 18,300 employees, operating in 29 states. Frontier was incorporated in 1935, originally under the name of Citizens Utilities Company and was known as Citizens Communications Company until July 31, 2008. Frontier and its subsidiaries are referred to as “we,” “us,” “our,” “Frontier,” or the “Company” in this report. (b) Basis of Presentation and Use of Estimates Our consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (GAAP). Certain reclassifications of amounts previously reported have been made to conform to the current presentation. All significant intercompany balances and transactions have been eliminated in consolidation. For our financial statements as of and for the period ended December 31, 2019, we evaluated subsequent events and transactions for potential recognition or disclosure through the date that we filed this Form 10-K with the Securities and Exchange Commission (SEC). The preparation of our financial statements in conformity with GAAP requires management to make estimates and assumptions that affect (i) the reported amounts of assets and liabilities at the date of the financial statements, (ii) the disclosure of contingent assets and liabilities, and (iii) the reported amounts of revenue and expenses during the reporting period. Actual results may differ from those estimates. Estimates and judgments are used when accounting for the allowance for doubtful accounts, asset impairments, indefinite-lived intangibles, depreciation and amortization, income taxes, business combinations, and pension and other postretirement benefits, among others. On July 10, 2017, we effected a one for fifteen (c) Going Concern Our consolidated financial statements have been prepared assuming that we will continue as a going concern, which contemplates continuity of operations, realization of assets, and satisfaction of liabilities in the normal course of business. In connection with the preparation of our consolidated financial statements, we conducted an evaluation as to whether there were conditions and events, considered in the aggregate, which raised substantial doubt as to the entity’s ability to continue as a going concern within one year after the date of the issuance of our consolidated financial statements. As reflected in our consolidated financial statements, the Company had cash and cash equivalents of $760 million and an accumulated deficit of $8,573 million as of December 31, 2019. The Company also had an operating loss of $4,873 million and a net loss of $5,911 million for the year ended December 31, 2019. The Company engaged in discussions with certain holders of the Company’s unsecured notes that executed confidentiality agreements with the Company (the Unsecured Noteholders) with respect to potential deleveraging or restructuring transactions from January 2020 until the expiration of such agreements and corresponding release of certain confidential information on March 27, 2020. These discussions have included negotiations of the terms and conditions of a financial restructuring (the Restructuring) of the existing debt of, existing equity interests in, and certain other obligations of the Company and certain of its direct and indirect subsidiaries (the Company Parties). The Restructuring is currently expected to be effected pursuant to a plan of reorganization (Plan) to be filed in cases commenced under chapter 11 (Chapter 11 Cases) of the United States Bankruptcy Code (the Bankruptcy Code). Although the Company continues to be open to all discussions with the Unsecured Noteholders regarding a potential Restructuring, there can be no assurance we will reach an agreement with the Unsecured Noteholders in a timely manner, on terms that are attractive to us, or at all. Furthermore, on March 16, 2020, we deferred making $322 million in scheduled interest payments due on certain of our senior notes and a 60-day grace period commenced under the indentures governing those notes. We elected to enter into the grace period in order to collaborate with certain Unsecured Noteholders regarding the Restructuring. If we do not make these interest payments by May 15, 2020 or if we do not make any required principal payments required under the indentures governing our notes, an event of default would occur under the applicable indentures, which would give the trustee or the holders of at least 25% of principal amount the option to accelerate maturity of the principal, plus any accrued and unpaid interest on such notes. The Company has also elected to defer making scheduled interest payments due on April 1, 2020 with respect to certain of its debentures. The Company evaluated the impact of undertaking the Restructuring and the payment deferral described above on its ability to continue as a going concern. As a result of risks and uncertainties related to (i) the Company’s ability to obtain requisite support for the Restructuring from various stakeholders, (ii) the effects of disruption from the Restructuring making it more difficult to maintain business, (iii) financing and operational relationships and (iv) the limited liquidity to pay the principal balance of the deferred payment senior notes and debentures upon an event of default, together with the Company’s recurring losses from operations and accumulated deficit, substantial doubt exists regarding our ability to continue as a going concern. Our consolidated financial statements do not include any adjustments related to the recoverability and classification of recorded asset amounts or the amounts and classification of liabilities that might be necessary should we be unable to continue as a going concern. (d) Cash Equivalents We consider all highly liquid investments with an original maturity of three months or less to be cash equivalents. Restricted cash of $50 million is included within “other assets” on our consolidated balance sheet as of December 31, 2019. These amounts represent funds held as collateral by certain insurance carriers. (e) Revenue Recognition Revenue for data & Internet services, voice services, video services and switched and non-switched access services is recognized as the service is provided. Services that are billed in advance include monthly recurring network access services (including data services), special access services, and monthly recurring voice, video, and related charges. The unearned portion of these fees is initially deferred as a component of “Advanced billings” on our consolidated balance sheet and recognized as revenue over the period that the services are provided. Services that are billed in arrears include non-recurring network access services (including data services), switched access services, and non-recurring voice and video services. The earned but unbilled portion of these fees is recognized as revenue in our consolidated statements of operations and accrued in “Accounts receivable” on our consolidated balance sheet in the period that services are provided. Excise taxes are recognized as a liability when billed. Satisfaction of Performance Obligations Frontier satisfies its obligations to customers by transferring goods and services in exchange for consideration received from the customer. The timing of Frontier’s satisfaction of the performance obligation often differs from the timing of the customer’s payment, which results in the recognition of a contract asset or a contract liability. Frontier recognizes a contract asset or liability when the Company transfers goods or services to a customer and bills an amount which differs from the revenue allocated to the related performance obligations. Bundled Service and Allocation of Discounts When customers purchase more than one service, the revenue allocable to each service is determined based upon the relative stand-alone selling price of each service received. We frequently offer service discounts as an incentive to customers. Service discounts reduce the total transaction price allocated to the performance obligations that are satisfied over the term of the customer contract. We may also offer incentives which are considered cash equivalents (e.g. Visa gift cards) that similarly result in a reduction of the total transaction price as well as lower revenue over the term of the contract. A contract asset is often created during the beginning of the contract term when the term of the incentive is shorter than the contract term. These contract assets are realized over the term of the contract as our performance obligations are satisfied and customer consideration is received. Customer Incentives In the process of acquiring and/or retaining customers, we may issue a variety of other incentives aside from service discounts or cash equivalent incentives. Those incentives that have stand-alone value (e.g. gift cards not considered cash equivalents or free goods/services) are considered a separate performance obligation. As a result, while these incentives are free to the customer, a portion of the consideration received from the customer over the contract term is ascribed to them based upon their relative stand-alone selling price. The revenue, reflected in “Other” revenue, and costs, reflected in “Network access expenses”, for these incentives are recognized when they are delivered to the customer and the performance obligation is satisfied. Similar to discounts, these types of incentives generally result in the creation of a contract asset during the beginning of the contract term which is recorded in Other current assets and Other assets on our consolidated balance sheet. Upfront Fees All non-refundable upfront fees provide our customers with a material right to renew, and therefore, are deferred and amortized into revenue over the expected period for which related services are provided. With upfront fees assessed at the beginning of a contract, a contract liability is often created, which is reduced over the term of the contract as the performance obligations are satisfied. The contract liabilities are recorded in Other current liabilities and Other liabilities on our consolidated balance sheet. Contributions in Aid of Construction (CIAC) It is customary for us to charge customers for certain construction activities. These activities are requested by the customer and construction charges are assessed at the beginning of a contract. When charges are incurred, a contract liability is often created, which is reduced over the term of the contract as performance obligations are satisfied. The contract liabilities are recorded in Other current liabilities and Other liabilities on our consolidated balance sheet. Contract Acquisition Costs Certain costs to acquire customers are deferred and amortized over the expected customer life (average of 4.0 years). For Frontier, this includes certain commissions paid to acquire new customers. Commissions attributable to new customer contracts are deferred and amortized into expense. Unamortized deferred commissions are recorded in Contract acquisition costs and Other assets on our consolidated balance sheet. Surcharges and Subsidies Frontier collects various taxes from its customers and subsequently remits these taxes to governmental authorities. Substantially all of these taxes are recorded through the consolidated balance sheet and presented on a net basis in our consolidated statements of operations. We also collect Universal Service Fund (USF) surcharges from customers (primarily federal USF), of $221 million, $213 million, and $216 million for the years ended December 31, 2019, 2018 and 2017, respectively, and video franchise fees of $40 million, $47 million, and $52 million for the years ended December 31, 2019, 2018, and 2016, respectively, that we have recorded on a gross basis in our consolidated statements of operations and included within “Revenue” and “Network related expenses. In 2015, we accepted the FCC’s Connect America Fund (CAF) Phase II offer of support, which is a successor to and augments the USF frozen high cost support that we had been receiving pursuant to a 2011 FCC order. Upon completion of the CTF Acquisition, Frontier assumed the CAF Phase II support and related obligations that Verizon had previously accepted with regard to California and Texas. We are recognizing these subsidies into revenue on a straight-line basis. (f) Property, Plant and Equipment Property, plant and equipment are stated at original cost, including capitalized interest, or fair market value as of the date of acquisition for acquired properties. Maintenance and repairs are charged to operating expenses as incurred. The gross book value of routine property, plant and equipment retirements is charged against accumulated depreciation. (g) Goodwill and Other Intangibles Goodwill represents the excess of purchase price over the fair value of identifiable tangible and intangible net assets acquired. We undertake studies to determine the fair values of assets and liabilities acquired and allocate purchase prices to assets and liabilities, including property, plant and equipment, goodwill and other identifiable intangibles. We examine the carrying value of our goodwill and trade name annually as of December 31, or more frequently, as circumstances warrant, to determine whether there are any impairment losses. We test for goodwill impairment at the “reporting unit” level, as that term is defined in GAAP. We have two reporting units (following the announcement of the sale of the Northwest Operations) that aggregate to one operating segment, based on a number of factors that our management uses to evaluate and run our business operations, including similarities of customers, products and technology. We tested goodwill for impairment as of September 30, 2019 as a result of the continued decline in share price of our common stock since December 31, 2018, the date of our last annual goodwill impairment test. As of September 30, 2019, goodwill was fully impaired. No further impairment testing is required as of December 31, 2019. Refer to Note 8 for a discussion of our goodwill impairment testing and results as of December 31, 2019. Frontier amortizes its customer list and certain other finite-lived intangible assets over their estimated useful lives on the accelerated method of sum of the years digits and its royalty agreement over its estimated useful life on the straight-line method. We review such intangible assets at least annually as of December 31 to assess whether any potential impairment exists and whether factors exist that would necessitate a change in useful life and a different amortization period. (h) Impairment of Long-Lived Assets and Long-Lived Assets to Be Disposed Of We review long-lived assets to be held and used, including customer lists and property, plant and equipment, and long-lived assets to be disposed of for impairment whenever events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. Recoverability of assets to be held and used is measured by comparing the carrying amount of the asset to the future undiscounted net cash flows expected to be generated by the asset. Recoverability of assets held for sale is measured by comparing the carrying amount of the assets to their estimated fair market value. If any assets are considered to be impaired, the impairment is measured by the amount by which the carrying amount of the assets exceeds the estimated fair value. Also, we periodically reassess the useful lives of our long-lived assets to determine whether any changes are required. (i) Income Taxes and Deferred Income Taxes We file a consolidated federal income tax return. We utilize the asset and liability method of accounting for income taxes. Under the asset and liability method, deferred income taxes are recorded for the tax effect of temporary differences between the financial statement basis and the tax basis of assets and liabilities using tax rates expected to be in effect when the temporary differences are expected to reverse. We recognize deferred tax assets to the extent that we believe that these assets are more likely than not to be realized. In making such a determination, we consider 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 we determine that we are not able to realize a portion of our net deferred tax assets in the future, we would make an adjustment to the deferred tax asset valuation allowance, which would increase the provision for income taxes. (j) Stock Plans We have various stock-based compensation plans. Awards under these plans are granted to eligible employees and directors. Awards may be made in the form of incentive stock options, non-qualified stock options, stock appreciation rights, restricted stock, restricted stock units or other stock-based awards, including awards with performance, market and time-vesting conditions. Our general policy is to issue shares from treasury upon the grant of restricted shares, earning of performance shares and the exercise of options. The compensation cost recognized is based on awards ultimately expected to vest. GAAP requires forfeitures to be estimated and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. (k) Net Loss Per Share Attributable to Frontier Common Shareholders Basic net loss per common share is computed using the weighted average number of common shares outstanding during the period being reported on, excluding unvested restricted stock awards. The impact of dividends paid on unvested restricted stock awards have been deducted in the determination of basic and diluted net income (loss) per share attributable to Frontier common shareholders. Except when the effect would be antidilutive, diluted net income per common share reflects the dilutive effect of certain common stock equivalents, as described further in Note 16 – Net Loss Per Common Share. |
Recent Accounting Pronouncement
Recent Accounting Pronouncements | 12 Months Ended |
Dec. 31, 2019 | |
Recent Accounting Pronouncements [Abstract] | |
Recent Accounting Pronouncements | (2) Recent Accounting Pronouncements Recently Adopted Accounting Pronouncements Leases In February 2016, the FASB issued ASU No. 2016 – 02, “Leases (Topic 842).” This standard, along with its related amendments, establishes the principles to report transparent and economically neutral information about the assets and liabilities that arise from leases. Upon implementation, lessees recognize almost all leases on their balance sheet as a right-of-use asset and a lease liability. For income statement purposes, the FASB retained a dual model, requiring leases to be classified as either operating or finance. Classification is based on criteria that are largely similar to those applied in current lease accounting, but without explicit bright lines. Lessor accounting is similar to the current model but updated to align with certain changes to the lessee model and the new revenue recognition standard. Existing sale-leaseback guidance, including guidance for real estate, is replaced with a new model applicable to both lessees and lessors. Frontier adopted the new lease standard during the first quarter of 2019 using the additional transition method provided by ASU 2018 – 11, “Targeted Improvements.” Under this method, Frontier applied the requirements of the new leases standard as of January 1, 2019 and recognized a cumulative-effect adjustment of $ million ($ million net of tax) to accumulated deficit. Consequently, Frontier’s reporting for comparative periods will continue to be in accordance with Topic 840. Refer to Note 11 for additional lease disclosures. Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income In February 2018, the FASB issued ASU 2018-02, which allows for the reclassification of certain income tax effects related to the Tax Cuts and Jobs Act (the TCJA) between “Accumulated other comprehensive income” and “Retained earnings.” This ASU relates to the requirement that adjustments to deferred tax liabilities and assets related to a change in tax laws or rates to be included in “Income from continuing operations,” even in situations where the related items were originally recognized in “Other comprehensive income.” Improvements to Nonemployee Share-Based Payment Accounting In June 2018, the FASB issued Accounting Standards Update (“ASU”) No. 2018-07, “Compensation — Stock Compensation (ASC 718), Improvements to Nonemployee Share-Based Payment Accounting,” which aligns the measurement and classification guidance for share-based payments to nonemployees with that for employees, with certain exceptions. Frontier adopted this standard update as of January 1, 2019, and records such awards at their grant date fair value, and the related liability is no longer remeasured in each period. The impact to our consolidated financial statements was not material. Recent Accounting Pronouncements Not Yet Adopted Financial Instrument Credit Losses In June 2016, The FASB issued ASU 2016-13, “Financial Instruments – Credit Losses”. This standard, along with its amendments, update the current financial statement impairment model requiring entities to use a forward looking approach based on expected losses to estimate credit losses on certain types of financial instruments, including trade receivables. ASU 2016-13 is effective for fiscal years beginning after December 15, 2022, with early adoption permitted. Frontier is still evaluating the impact of adopting this standard on our consolidated financial statements. Changes to the Disclosure Requirements for Fair Value Measurement In August 2018, the FASB issued ASU 2018-13, “Fair Value Measurement (Topic 820):Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurement,” which adds, removes, and modifies certain disclosures required by ASC 820. ASU 2018-13 is effective for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years. Early adoption is permitted. New disclosures related to this standard will be applied in future filings. Changes to the Disclosure Requirements for Defined Benefit Plans In August 2018, the FASB issued ASU 2018-14, “Compensation-Retirement Benefits-Defined Benefit Plans-General: Disclosure Framework-Changes to the Disclosure Requirements for Defined Benefit Plans”. This standard eliminates requirements for certain disclosures that are not considered cost beneficial, clarifies certain required disclosures and adds additional disclosures under defined benefit pension plans and other postretirement plans. We are required to adopt this guidance beginning January 1, 2021. Early adoption is permitted. The amendments in the standard would need to be applied on a retrospective basis. New disclosures related to this standard will be applied in future filings. Simplifying the Accounting for Income Taxes In December 2019, the FASB issued ASU 2019-12, “Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes.” This standard simplifies the accounting for income taxes by removing certain exceptions to the general principles in Topic 740. The amendments also improve consistent application of and simplify GAAP for other areas of Topic 740 by clarifying and amending existing guidance. ASU 2019-12 is effective for fiscal years beginning after December 15, 2020, and interim periods within those fiscal years. Early adoption is permitted. Frontier plans to early adopt this standard effective for January 1, 2020, with no expected material impact on our consolidated financial statements. |
Revenue Recognition
Revenue Recognition | 12 Months Ended |
Dec. 31, 2019 | |
Revenue Recognition [Abstract] | |
Revenue Recognition | (3) Revenue Recognition: Effective January 1, 2018, we adopted ASU 2014-09, “Revenue from Contracts with Customers,” (ASC 606). We categorize our products, services and other revenues into the following categories: Data and Internet services Voice services Video services Other customer revenue Subsidy and other regulatory revenue The following tables provide a summary of revenues, by category. For the year ended December 31, ($ in millions) 2019 2018 2017 (1) Data and Internet services $ 3,756 $ 3,878 $ 3,862 Voice services 2,500 2,721 2,864 Video services 1,005 1,085 1,304 Other 477 544 322 Revenue from contracts with customers 7,738 8,228 8,352 Subsidy and other regulatory revenue 369 383 776 Total revenue $ 8,107 $ 8,611 $ 9,128 For the year ended December 31, ($ in millions) 2019 2018 2017 (1) Consumer $ 4,153 $ 4,380 $ 4,476 Commercial 3,585 3,848 3,876 Revenue from contracts with customers 7,738 8,228 8,352 Subsidy and other regulatory revenue 369 383 776 Total revenue $ 8,107 $ 8,611 $ 9,128 (1) Revenues for the year ended December 31, 2017 have not been adjusted under the modified retrospective method of adoption of ASC 606. Frontier satisfies its obligations to customers by transferring goods and services in exchange for consideration received from the customer. The timing of Frontier’s satisfaction of the performance obligation often differs from the timing of the customer’s payment, which results in the recognition of a contract asset or a contract liability. Frontier recognizes a contract asset or liability when the Company transfers goods or services to a customer and bills an amount which differs from the revenue allocated to the related performance obligations. The following is a summary of the changes in the assets established for our costs to acquire customers for the years ended December 31, 2019 and 2018: Contract Acquisition Costs ($ in millions) Current Noncurrent Balance at January 1, 2018 $ 87 $ 117 Commissions deferred 128 10 Commission costs recognized (108 ) - Balance at December 31, 2018 107 127 Commissions deferred 138 6 Commission costs recognized (131 ) - Reclass to assets held for sale (9 ) (12 ) Balance at December 31, 2019 $ 105 $ 121 The following is a summary of the changes in the contract assets and contract liabilities for the years ended December 31, 2019 and 2018: Contract Assets Contract Liabilities ($ in millions) Current Noncurrent Current Noncurrent Balance at January 1, 2019 $ 44 $ 25 $ 49 $ 22 Revenue recognized included in opening contract balance (39 ) (12 ) (81 ) (17 ) Cash received, excluding amounts recognized as revenue - - 78 16 Credits granted, excluding amounts recognized as revenue 30 1 - - Reclassified between Current and Noncurrent 5 (5 ) - - Reclassified to held for sale (3 ) (1 ) (5 ) - Balance at December 31, 2019 $ 37 $ 8 $ 41 $ 21 Contract Assets Contract Liabilities ($ in millions) Current Noncurrent Current Noncurrent Balance at January 1, 2018 $ 40 $ 37 $ 41 $ 19 Revenue recognized included in opening contract balance (49 ) (8 ) (106 ) (13 ) Cash received, excluding amounts recognized as revenue - - 129 6 Credits granted, excluding amounts recognized as revenue 49 - - - Reclassified between Current and Noncurrent 4 (4 ) (10 ) 10 Other - - (5 ) - Balance at December 31, 2018 $ 44 $ 25 $ 49 $ 22 Short-term contract assets, Long-term contract assets, Short-term contract liabilities, and Long-term contract liabilities are included in other current assets, other assets, other current liabilities, and other liabilities, respectively, on our consolidated balance sheet. The following table includes estimated revenue expected to be recognized in the future related to performance obligations that are unsatisfied (or partially unsatisfied) at the end of the reporting period. ($ in millions) Revenue from remaining performance obligations 2020 $ 2,163 2021 957 2022 431 2023 200 2024 107 Thereafter 160 Total $ 4,018 (1) (1) Future performance obligations include $ 289 million related to our Northwest Operations |
Acquisitions
Acquisitions | 12 Months Ended |
Dec. 31, 2019 | |
Acquisitions [Abstract] | |
Acquisitions | (4) Acquisition On April 1, 2016, Frontier acquired the wireline operations of Verizon Communications, Inc. in California, Texas and Florida (CTF) for a purchase price of $10,540 million in cash and assumed debt, pursuant to the February 5, 2015 Securities Purchase Agreement, as amended. In 2017, we incurred $25 million of Integration costs, and invested $34 million in capital expenditures. |
Accounts Receivable
Accounts Receivable | 12 Months Ended |
Dec. 31, 2019 | |
Accounts Receivable [Abstract] | |
Accounts Receivable | (5) Accounts Receivable The components of accounts receivable, net at December 31, 2019 and 2018 are as follows: ($ in millions) 2019 2018 Retail and Wholesale $ 678 $ 745 Other 71 83 Less: Allowance for doubtful accounts (120 ) (105 ) Accounts receivable, net $ 629 $ 723 An analysis of the activity in the allowance for doubtful accounts for the years ended December 31, 2019, 2018 and 2017 is as follows: ( $ in millions Balance at beginning of the Period ASC 606 Transition Adjustment Increases: Charged to Revenue Decreases: Write-offs and Customer Credits Reclassified to Assets Held for Sale Balance at end of the Period 2017 $ 131 $ - $ 87 $ (149 ) $ - $ 69 2018 $ 69 $ 32 $ 93 $ (89 ) $ - $ 105 2019 $ 105 $ - $ 109 $ (83 ) $ (11 ) $ 120 We maintain an allowance for doubtful accounts based on our estimate of our ability to collect accounts receivable. The provision for uncollectible amounts was $109 million, $93 million and $87 million for the years ended December 31, 2019, 2018 and 2017, respectively. The provision for uncollectible amounts charged to revenue during 2019 and the ending balance in the allowance account as of December 31, 2019 were elevated as a result of ongoing billing disputes with some of our wholesale customers. Our allowance for doubtful accounts decreased during 2018 primarily as a result of resolutions of carrier disputes and increased collection efforts on delinquent balances in both our CTF and Legacy markets and increased in 2017 primarily as a result of the customer account balances related to CTF Operations subsequent to the CTF Acquisition. Resolutions reached with carriers resulted in a reduction of our reserves of $37 million, $9 million, and $39 million in 2019, 2018 and 2017, respectively. |
Property, Plant And Equipment
Property, Plant And Equipment | 12 Months Ended |
Dec. 31, 2019 | |
Property, Plant And Equipment [Abstract] | |
Property, Plant And Equipment | (6) Property, Plant and Equipment Property, plant and equipment, net at December 31, 2019 and 2018 are as follows: ($ in millions) Estimated Useful Lives 2019 2018 Land N/A $ 217 $ 230 Buildings and leasehold improvements 40 years 2,171 2,302 General support 5 to 15 years 1,624 1,616 Central office/electronic circuit equipment 5 to 8 years 7,968 8,447 Poles 30 years 1,274 1,211 Cable, fiber and wire 15 to 25 years 11,312 11,743 Conduit 50 years 1,608 1,672 Construction work in progress 378 436 Property, plant and equipment 26,552 27,657 Less: Accumulated depreciation (13,589 ) (13,470 ) Property, plant and equipment, net $ 12,963 $ 14,187 As of December 31, 2019, $1,049 million of fixed assets were reclassified to assets held for sale in relation to the planned sale of the Northwest Operations (see Note 7). Property, plant, and equipment includes approximately $167 million, $152 million, and $171 million of fixed assets recognized under capital leases as of December 31, 2019, 2018 and 2017, respectively. In 2017 and 2018, we sold certain properties subject to leaseback, generating $106 million in net proceeds. In connection with the adoption of ASC 842, the $15 million ($11 million net of tax) unamortized deferred gains resulting from these transactions were recognized directly to opening accumulated deficit as of January 1, 2019. In January 2019, we closed the sale of certain wireless towers for approximately $76 million in cash. The aggregate carrying value of the towers was approximately $1 million, resulting in a gain on the sale of $75 million which, given our composite group method of accounting for depreciation, was recognized against “Accumulated Depreciation” in our consolidated balance sheet during 2019. Depreciation expense is principally based on the composite group method. Depreciation expense was as follows: For the year ended December 31, ($ in millions) 2019 2018 2017 Depreciation expense $ 1,335 $ 1,385 $ 1,485 We adopted revised estimated remaining useful lives for certain plant assets as of October 1, 2019, as a result of an annual independent study of the estimated remaining useful lives of our plant assets, with an insignificant impact to depreciation expense. |
Planned Divestiture Of Northwes
Planned Divestiture Of Northwest Operations | 12 Months Ended |
Dec. 31, 2019 | |
Planned Divestiture Of Northwest Operations [Abstract] | |
Planned Divestiture Of Northwest Operations | (7) Planned divestiture of Northwest Operations: In May 2019, Frontier entered into a definitive agreement to sell its operations and associated assets in Washington, Oregon, Idaho, and Montana (Northwest Operations) for $1,352 million, subject to certain closing adjustments, including adjustments for working capital and certain pension and retiree medical liabilities. The sale is expected to close during the first half of 2020, subject to customary closing conditions. In connection with the sale, Frontier has entered into a transition services agreement with the purchaser to provide various network and support services for a minimum of six months following the transaction closing. This transaction does not represent a strategic shift for Frontier; therefore, it does not meet the criteria to be classified as a discontinued operation. As a result, the Northwest Operations will continue to be reported in our operating results until the sale is finalized. Effective with the designation as held-for-sale on May 28, 2019, we discontinued recording depreciation on Property, Plant and Equipment and finite-lived intangible assets of this business as required by ASC 360. The Company also separately classified the related assets and liabilities of the business as held-for-sale in its December 31, 2019 consolidated balance sheet. As a result of its evaluation of the recoverability of the carrying value of the assets and liabilities held for sale relative to the agreed upon sales price, adjusted for costs to sell, Frontier recorded an estimated loss on disposal of $446 million during 2019 in its consolidated statement of operations and a valuation allowance included in assets held for sale on its consolidated balance sheet. The principal components of the held-for-sale assets and liabilities as of December 31, 2019 are as follows: ($ in millions) December 31, 2019 ASSETS Accounts receivable, less allowances of $11 $ 46 Prepaid expenses 1 Contract acquisition costs 9 Other current assets 3 Property, plant and equipment, net 1,049 Goodwill (1) 658 Other intangibles, net 30 Other assets 26 Valuation allowance on assets held for sale (421 ) Total assets held for sale $ 1,401 LIABILITIES Accounts payable $ 12 Advanced billings 18 Accrued other taxes 6 Other current liabilities 18 Pension and other postretirement benefits (2) 29 Other liabilities 40 Total liabilities held for sale $ 123 (1) The assignment of goodwill was based on the relative fair value of the disposal group and the portion of the remaining reporting unit. (2) Excludes pension liability of $163 million, which will be fully funded upon closing. Approximately $98 million, or 60% of the pension liability will be funded through the transfer of pension plan assets. The remaining liability will be separately funded by Frontier at the time of closing. |
Goodwill And Other Intangibles
Goodwill And Other Intangibles | 12 Months Ended |
Dec. 31, 2019 | |
Goodwill And Other Intangibles [Abstract] | |
Goodwill And Other Intangibles | (8) Goodwill and Other Intangibles The changes in the carrying amount of goodwill, net for the years ended December 31, 2019 and 2018 were as follows: ($ in millions) Goodwill, net Balance at January 1, 2018 $ 7,024 Goodwill Impairment (641 ) Balance at December 31, 2018 6,383 Reclassified as held for sale (1) (658 ) Goodwill impairment (5,725 ) Balance at December 31, 2019 $ - (1) Represents the amounts reclassified as held-for-sale related to the Company’s Northwest Operations (see Note 7). We perform impairment tests related to our goodwill annually as of December 31, or sooner if an indicator of impairment occurs. Accumulated goodwill impairment charges were $9,154 million and $3,429 million as of December 31, 2019 and 2018, respectively. The decline in our stock price, our profitability, and the outlook of our business during the second and third quarter of 2019 were each triggering events that required an impairment assessment in each of the second and third quarter of 2019. The decline of our stock price during 2018 was a triggering event that required an impairment assessment in each of the final three quarters of 2018. As of September 30, 2019, goodwill was fully impaired and therefore no qualitative or quantitative assessment was required as of December 31, 2019. We use a market multiples approach to determine Frontier’s enterprise fair value for purposes of assessing goodwill for impairment. Marketplace comparisons, analyst reports and trends for other public companies within the communications industry whose service offerings are comparable to ours have a range of fair value multiples between 4.4x and 6.5x of annualized expected EBITDA as adjusted for certain items. We estimated the enterprise fair value using a multiple of 4.4x EBITDA for both the second and third quarter 2019 evaluations, a multiple of 5.3x EBITDA for the fourth quarter 2018 evaluation, and a multiple of 5.5x EBITDA for each of the first three quarterly evaluations in 2018. The market multiples approach we use incorporates significant estimates and assumptions related to our forecasted profitability, principally revenue and operating expenses. Our assessment also includes certain qualitative factors that required significant judgment, including challenges in achieving improvements in revenue and customer trends, the amount and timing of other anticipated Transformation benefits, and uncertainty regarding the timing and successor to the FCC’s CAF Phase II program. Alternative interpretations of these factors could have resulted in different conclusions regarding the need for, or size of, an impairment. We recorded goodwill impairments totaling $5,725 million for the year ended December 31, 2019. The impairment in the second and third quarters of 2019 reflected lower enterprise valuation driven by lower profitability, as well as a reduction in the utilized market multiple from 5.3x EBITDA at December 31, 2018 to the 4.4x EBITDA utilized during our quantitative assessments in 2019. This reflects, among other things, pressures on our business resulting in the continued deterioration in revenue, challenges in achieving improvements in revenue and customer trends, the long-term sustainability of our capital structure, and the lower outlook of our industry as a whole. We recorded goodwill impairments totaling $641 million for year ended December 31, 2018. The driver for the impairment in the third quarter of 2018 was a reduction in our profitability and utilized EBITDA estimate, which when applied to our market multiple resulted in a lower enterprise valuation. During the fourth quarter of 2018, the impairment was largely driven by a lower enterprise valuation resulting from a reduction in utilized market multiple from 5.5x to 5.3x reflecting the lower outlook for our industry as a whole. We recorded goodwill impairments totaling $2,748 million for the year ended December 31, 2017. The driver for the impairment in the second quarter of 2017 was a reduction in our profitability and utilized EBITDA estimate, which when applied to our market multiple resulted in a lower enterprise valuation. During the fourth quarter, the impairment was largely driven by a lower enterprise valuation resulting from a reduction in utilized market multiple from 5.8x to 5.5x reflecting the lower outlook for our industry as a whole. The revaluation of our net deferred tax liabilities which resulted from the enactment of Tax Cut and Job Act, caused further goodwill impairment (see Note 15). We also considered whether the carrying values of finite-lived intangible assets and property plant and equipment may not be recoverable or whether the carrying value of certain indefinite-lived intangible assets were impaired. No impairment was present for either finite-lived intangibles or property plant and equipment as of December 31, 2019, 2018, and 2017. The components of other intangibles at December 31, 2019 and 2018 are as follows: 2019 2018 ($ in millions) Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Other Intangibles: Customer base $ 4,332 $ (3,452 ) $ 880 $ 5,188 $ (3,848 ) $ 1,340 Trade name 122 - 122 122 - 122 Royalty agreement 72 (54 ) 18 72 (40 ) 32 Total other intangibles $ 4,526 $ (3,506 ) $ 1,020 $ 5,382 $ (3,888 ) $ 1,494 The decrease in our customer base was driven by the reclassification of $856 million ($30 million net of accumulated amortization) related to the customer base asset expected to be transferred in the planned divestiture of our Northwest Operations. Amortization expense was as follows: For the year ended December 31, ($ in millions) 2019 2018 2017 Amortization expense $ 445 $ 569 $ 699 Amortization expense primarily represents the amortization of our customer base acquired as a result of the CTF Acquisition, the Connecticut Acquisition and the acquisition of certain Verizon properties in 2010 with each based on a useful life of 8 to 12 years on an accelerated method. The approximate weighted average remaining life of our customer base is 4.4 years and for our royalty agreement is 1.3 years. Amortization expense based on our current estimate of useful lives, is estimated to be approximately $343 million in 2020, $253 million in 2021, $170 million in 2022, $95 million in 2023, and $26 million in 2024. |
Long-Term Debt
Long-Term Debt | 12 Months Ended |
Dec. 31, 2019 | |
Long-Term Debt [Abstract] | |
Long-Term Debt | (9) Long-Term Debt Subsequent Event For information about subsequent events related to the Restructuring, refer to Note 23. The activity in our long-term debt from January 1, 2019 to December 31, 2019 is summarized as follows: For the year ended December 31, 2019 ($ in millions) January 1, 2019 Payments and Retirements New Borrowings December 31, 2019 Interest Rate at December 31, 2019* Secured debt issued by Frontier $ 5,246 $ (2,134 ) $ 2,599 $ 5,711 7.24 % Unsecured debt issued by Frontier 11,297 (348 ) - 10,949 9.62 % Secured debt issued by subsidiaries 107 (1 ) - 106 8.36 % Unsecured debt issued by subsidiaries 750 - - 750 6.90 % Total debt $ 17,400 $ (2,483 ) $ 2,599 $ 17,516 8.72 % Less: Debt Issuance Costs (178 ) (168 ) Less: Debt Premium/(Discount) (50 ) (46 ) Less: Current Portion (814 ) (994 ) $ 16,358 $ 16,308 * Interest rate includes amortization of debt issuance costs and debt premiums or discounts. The interest rates at December 31, 2019 represent a weighted average of multiple issuances. Additional information regarding our senior unsecured debt, senior secured debt and subsidiary debt at December 31, 2019 and 2018 is as follows: December 31, 2019 December 31, 2018 ($ in millions) Principal Outstanding Interest Rate Principal Outstanding Interest Rate Secured debt issued by Frontier Term loan due 3/31/2021 (1) $ - $ 1,402 5.280% (Variable) Term loan due 10/12/2021 (2) - 239 7.405% (Variable) Revolver due 2/27/2024 (3) 749 4.760% (Variable) 275 5.280% (Variable) Term loan due 6/15/2024 (4) 1,699 5.550% (Variable) 1,716 6.280% (Variable) First lien notes due 4/1/2027 1,650 8.000 % - Second lien notes due 4/1/2026 1,600 8.500 % 1,600 8.500 % IDRB due 5/1/2030 13 6.200 % 13 6.200 % Equipment financings - 1 0.000 % Total secured debt issued by Frontier 5,711 5,246 Unsecured debt issued by Frontier Senior notes due 3/15/2019 - 348 7.125 % Senior notes due 4/15/2020 172 8.500 % 172 8.500 % Senior notes due 9/15/2020 55 8.875 % 55 8.875 % Senior notes due 7/1/2021 89 9.250 % 89 9.250 % Senior notes due 9/15/2021 220 6.250 % 220 6.250 % Senior notes due 4/15/2022 500 8.750 % 500 8.750 % Senior notes due 9/15/2022 2,188 10.500 % 2,188 10.500 % Senior notes due 1/15/2023 850 7.125 % 850 7.125 % Senior notes due 4/15/2024 750 7.625 % 750 7.625 % Senior notes due 1/15/2025 775 6.875 % 775 6.875 % Senior notes due 9/15/2025 3,600 11.000 % 3,600 11.000 % Debentures due 11/1/2025 138 7.000 % 138 7.000 % Debentures due 8/15/2026 2 6.800 % 2 6.800 % Senior notes due 1/15/2027 346 7.875 % 346 7.875 % Senior notes due 8/15/2031 945 9.000 % 945 9.000 % Debentures due 10/1/2034 1 7.680 % 1 7.680 % Debentures due 7/1/2035 125 7.450 % 125 7.450 % Debentures due 10/1/2046 193 7.050 % 193 7.050 % Total unsecured debt issued by Frontier 10,949 11,297 Secured debt issued by subsidiaries Debentures due 11/15/2031 100 8.500 % 100 8.500 % RUS loan contracts due 1/3/2028 6 6.154 % 7 6.154 % Total secured debt issued by subsidiaries 106 107 Unsecured debt issued by subsidiaries Debentures due 5/15/2027 200 6.750 % 200 6.750 % Debentures due 2/1/2028 300 6.860 % 300 6.860 % Debentures due 2/15/2028 200 6.730 % 200 6.730 % Debentures due 10/15/2029 50 8.400 % 50 8.400 % Total unsecured debt issued by subsidiaries 750 750 Total debt $ 17,516 8.486 % (5) $ 17,400 8.411 % (5) (1) Represents borrowings under the JPM Credit Agreement Term Loan A, as defined below. (2) Represents borrowings under the 2016 CoBank Credit Agreement, as defined below. (3) Represents borrowings under the JPM Credit Agreement Revolver, as defined below. (4) Represents borrowings under the JPM Credit Agreement Term Loan B, as defined below. (5) Interest rate represents a weighted average of the stated interest rates of multiple issuances Term Loan and Revolving Credit Facilities JP Morgan Credit Facilities On February 27, 2017, Frontier entered into a first amended and restated credit agreement with JPMorgan Chase Bank, N.A., as administrative agent, and the lenders party thereto, pursuant to which Frontier combined its revolving credit agreement, dated as of June 2, 2014, and its term loan credit agreement, dated as of August 12, 2015. Under the JPM Credit Agreement (as amended to date, the JPM Credit Agreement), Frontier has a $1,740 million senior secured Term Loan B facility (the Term Loan B) maturing on June 15, 2024 and an $850 million secured revolving credit facility maturing on February 27, 2024 (the Revolver). The maturities of the Term Loan B and the Revolver, in each case if still outstanding, will be accelerated in the following circumstances: (i) if, 91 days before the maturity date of any series of Senior Notes maturing in 2020, 2023 and 2024, more than $500 million in principal amount remains outstanding on such series; or (ii) if, 91 days before the maturity date of the first series of Senior Notes maturing in 2021 or 2022, more than $500 million in principal amount remains outstanding, in the aggregate, on the two series of Senior Notes maturing in such year. As of December 31, 2019, approximately $227 million principal amount, in the aggregate, remains outstanding on the two series of senior notes maturing in 2020 and $309 million principal amount, in the aggregate, remains outstanding on the two series of senior notes maturing in 2021. The determination of interest rates for the Term Loan B and Revolver under the JPM Credit Agreement is based on margins over the Base Rate (as defined in the JPM Credit Agreement) or over LIBOR, at the election of Frontier. Interest rate margins on the Revolver (ranging from 1.00% to 2.00% for Base Rate borrowings and 2.00% to 3.00% for LIBOR borrowings) are subject to adjustment based on Frontier’s Leverage Ratio (as defined in the JPM Credit Agreement). The interest rate on the Revolver as of December 31, 2019 was LIBOR plus 3.00%. Interest rate margins on the Term Loan B (2.75% for Base Rate borrowings and 3.75% for LIBOR borrowings) are not subject to adjustment. The security package under the JPM Credit Agreement includes pledges of the equity interests in certain Frontier subsidiaries and guarantees by certain Frontier subsidiaries. As of December 31, 2019, Frontier had borrowings of $749 million outstanding under the Revolver (with letters of credit issued under the Revolver totaling an additional $101 million). In July 2019, a $20 million Letter of Credit issued under the Bank of Tokyo LC agreement was replaced by a Letter of Credit issued under the Revolver. On March 15, 2019, Frontier amended the JPM Credit Agreement to, among other things, extend the maturity date of the Revolver from to (subject to springing maturity to any tranche of our existing debt with an aggregate outstanding principal amount in excess of $ million), increase the interest rate applicable to loans under the Revolver by and make certain modifications to the debt and restricted payment covenants. On April 26, 2019, Frontier further amended the JPM Credit Agreement to, among other things, extend the maturity date of the outstanding small tranche of loans under the Revolver that had not been party to the March 2019 amendments. Frontier also had a $1,625 million senior secured Term Loan A facility (the Term Loan A) under the JPM Credit Agreement which was fully repaid on March 15, 2019, as described below under “New Debt Issuances and Debt Reductions.” On January 25, 2018, Frontier amended the JPM Credit Agreement to, among other things, expand the security package to include the interests of certain subsidiaries previously not pledged and replace the leverage ratio maintenance test with a first lien leverage ratio maintenance test. On July 3, 2018, Frontier further amended the JPM Credit Agreement to, among other things, replace certain operating subsidiary equity pledges with pledges of the equity interest of certain direct subsidiaries of Frontier. Repaid CoBank Credit Facilities Frontier had a $315 million senior term loan facility drawn in October 2016 (the 2016 CoBank Credit Agreement) with CoBank, ACB, as administrative agent, lead arranger and a lender, and the other lenders which was repaid in full on March 15, 2019. Frontier had a separate $350 million senior term loan facility drawn in 2014 (the 2014 CoBank Credit Agreement) with CoBank which was repaid in full on July 3, 2018. Details of both transactions are described below under “New Debt Issuances and Debt Reductions.” As of December 31, 2019, we were in compliance with all of our covenants under our indentures and the JPM Credit Agreement. New Debt Issuances and Debt Reductions: On March 15, 2019, Frontier completed a private offering of $1,650 million aggregate principal amount of 8.000% First Lien Secured Notes due 2027 Additionally, on March 15, 2019, Frontier used the proceeds from the offering of First Lien Notes, together with cash on hand, to (i) repay in full the outstanding borrowings under the senior secured Term Loan A facility under the JPM Credit Agreement, which otherwise would have matured in March 2021 October 2021 For the year ended December 31, 2019, Frontier retired $348 million principal amount of 7.125% senior unsecured notes due 2019. During the year ended December 31, 2019, Frontier recorded a loss on early extinguishment of debt of $20 million driven primarily by the write-off of unamortized original issuance costs associated with the retired Term Loan A and 2016 CoBank Credit Agreement. On March 19, 2018, Frontier completed a private offering of $1,600 million aggregate principal amount of 8.500% Second Lien Secured Notes due 2026 (the “Second Lien Notes”). The Second Lien Notes are guaranteed by each of the Company’s subsidiaries that guarantees the JPM Credit Agreement. The guarantees are unsecured obligations of the guarantors and subordinated in right of payment to all of the guarantor’s obligations under the Company’s JPM Credit Agreement and certain other permitted future senior indebtedness but equal in right of payment with all other unsubordinated obligations of the guarantors. The Second Lien Notes indenture provides that (a) the aggregate amount of all guaranteed obligations guaranteed by the guarantors are limited and shall not, at any time, exceed the lesser of (x) the principal amount of the Second Lien Notes then outstanding and (y) the Maximum Guarantee Amount (as defined in the Second Lien Notes indenture), and (b) for the avoidance of doubt, nothing in the Second Lien Notes indenture shall, on any date or from time to time, allow the aggregate amount of all such guaranteed obligations guaranteed by the guarantors to cause or result in the Company or any subsidiary violating any indenture governing the Company’s existing senior notes. The Second Lien Notes are secured on a second-priority basis by all the assets that secure Frontier’s obligations under the JPM Credit Agreement on a first-priority basis. The collateral securing the Second Lien Notes and the JPM Credit Agreement is limited to the equity interests of certain subsidiaries of the Company and substantially all personal property of Frontier Video Services, Inc. The Second Lien Notes bear interest at a rate of 8.500% per annum and mature on April 1, 2026. Interest on the Second Lien Notes is payable semi-annually in arrears on April 1 and October 1 of each year, commencing October 1, 2018. On July 3, 2018, the collateral package for the Second Lien Notes was amended to replace certain operating subsidiary equity pledges with pledges of the equity interests of certain direct subsidiaries of Frontier, consistent with amendments made to the JPM Credit Agreement. On July 3, 2018, the Company entered into Increase Joinder No. 2 to the JPM Credit Agreement, pursuant to which the Company borrowed an incremental $240 million under the Term Loan B maturing in 2024 On October 1, 2018, Frontier retired $431 million principal amount outstanding of 8.125% senior notes due 2018 During 2018, Frontier retired $828 million principal amount of senior indebtedness and made open market purchases of $117 million of senior unsecured notes consisting of $61 million of 8.125% senior notes due 2018 2019 2020 2020 2021 2021 During 2018, Frontier recorded a gain on early extinguishment of debt of $32 million driven primarily by discounts received on the retirement of certain notes, slightly offset by premiums paid to retire certain notes and unamortized original issuance costs. On June 15, 2017, the Company entered into Increase Joinder No. 1 to the JPM Credit Agreement, pursuant to which the Company borrowed $1,500 million. The Company used the borrowings to fund the open market purchases of certain unsecured Senior notes during 2017. During 2017, Frontier used proceeds from Term Loan B (see definition and note discussion above) and cash on hand to retire $763 million of 8.875% Notes due 2020 2020 2018 2019 2021 Our scheduled principal payments are as follows as of December 31, 2019. This does not reflect outstanding borrowings under the Revolver. ($ in millions) Principal Payments 2020 $ 245 2021 $ 327 2022 $ 2,706 2023 $ 868 2024 $ 2,380 Thereafter $ 10,241 Other Obligations During 2018, Frontier contributed real estate properties with an aggregate fair value of $37 million for the purpose of funding a portion of its contribution obligations to its qualified defined benefit pension plan. The pension plan obtained independent appraisals of the property and, based on these appraisals, the pension plan recorded the contributions at aggregate fair value of $37 million for 2018. Frontier has entered into a lease for the contributed properties. The properties are managed on behalf of the pension plan by an independent fiduciary, and the terms of the lease were negotiated with the fiduciary on an arm’s-length basis. For properties contributed in 2018, leases have initial terms of 20 years at a combined average aggregate annual rent of approximately $5 million. The contribution and leaseback of the properties were treated as financing transactions and, accordingly, Frontier continues to depreciate the carrying value of the property in its financial statements and no gain or loss was recognized. An obligation of $37 million was recorded in our consolidated balance sheet within “Other liabilities” as of December 31, 2019 and the liability is reduced annually by a portion of the lease payments made to the pension plan. Under the new lease standard, liabilities for these finance transactions are included in our financing lease liabilities. Refer to Note 11 for additional details. During 2017, Frontier modified certain operating leases for vehicles which resulted in the classification as capital leases. These agreements have lease terms of 1 to 7 years. These capital lease obligations are classified as financing lease liabilities and included in our consolidated balance sheet within “Other liabilities” and “Other current liabilities.” Refer to Note 11 for additional details. |
Restructuring And Other Charges
Restructuring And Other Charges | 12 Months Ended |
Dec. 31, 2019 | |
Restructuring And Other Charges [Abstract] | |
Restructuring And Other Charges | (10) Restructuring and Other Charges: As of December 31, 2019, restructuring related liabilities of $15 million pertaining to employee separation charges and accrued costs related to transformation initiatives are included in “Other current liabilities” in our consolidated balance sheet. During the second quarter of 2018, Frontier announced a strategic plan (Transformation Program) with the objective of improving revenues, profitability, and cash flows by enhancing our operations and customer service and support processes. We had retained a consulting firm to assist in executing on various aspects of the Transformation Program. This agreement was terminated in June 2019 and in connection therewith we made a payment in the third quarter of 2019, of approximately $30 million of previously accrued expenses. We continue to implement programs and initiatives designed to improve and enhance our business and expect associated expenses to be recognized as incurred. Amounts accrued in connection with related consulting arrangements are recognized as operating expense under “Restructuring costs and other charges.” Restructuring Costs During 2019, we incurred $168 million in expenses related to changes in the operation of our business, consisting of $46 million directly associated with transformation initiatives, $44 million of pension/OPEB special termination benefit enhancements related to a voluntary severance program, $38 million of severance and employee costs resulting from workforce reductions, and $40 million of consulting and advisory costs related to our balance sheet restructuring activities, which are included in “Restructuring costs and other charges” in our consolidated statement of operations for the year ended December 31, 2019. During 2018, restructuring costs and other charges, primarily consisting of severance and other employee-related costs of $12 million and costs directly associated with the Transformation Program of $23 million, totaling $35 million in connection with workforce reductions, are included in “Restructuring costs and other charges” in our consolidated statement of operations for the year ended December 31, 2018. During 2017, restructuring costs and other charges, primarily consisting of severance and other employee-related costs of $68 million, and pension/OPEB benefit enhancements of $5 million, and the loss recorded on the sale of Frontier’s Secure Strategic Partnerships business of $9 million, totaling $82 million in connection with workforce reductions, are included in “Restructuring costs and other charges” in our consolidated statement of operations for the year ended December 31, 2017. The following is a summary of the changes in the liabilities established for restructuring and related programs at December 31, 2019: ($ in millions) Restructuring Liability Balance at December 31, 2017 $ 25 Severance costs 12 Transformation initiative costs 23 Cash payments during the period (42 ) Balance at December 31, 2018 18 Severance costs 38 Transformation initiative costs 46 Other restructuring costs 40 Cash payments during the period (127 ) Balance at December 31, 2019 $ 15 |
Leases
Leases | 12 Months Ended |
Dec. 31, 2019 | |
Leases [Abstract] | |
Leases | (11) Leases: With the adoption of ASC 842 on January 1, 2019, Frontier elected to apply the ‘package of practical expedients’, which permits the Company to not reassess under the new standard its prior conclusions including lease identification, lease classification, and initial direct costs. Additionally, Frontier elected to apply the land easement practical expedient, which permits the Company to account for land easements under the new standard only on a prospective basis. Frontier did not apply the use of hindsight practical expedient. The following table includes information for the transition adjustment recorded as of January 1, 2019 to record the cumulative impact of adoption of ASC 842 for prior periods: ($ in millions) As Reported December 31, 2018 ASC 842 Transition Adjustment Adjusted January 1, 2019 Assets Other assets $ 265 $ 205 (1) $ 470 Liabilities and Equity (Deficit) Other current liabilities $ 394 $ 32 (2) $ 426 Other liabilities $ 281 $ 158 (3) $ 439 Deferred income taxes $ 1,109 $ 4 (4) $ 1,113 Accumulated deficit $ (2,752 ) $ 11 (5) $ (2,741 ) (1) Includes $205 million of operating Right-of-use (ROU) assets recorded upon adoption. (2) Includes $46 million of operating lease liabilities, partially offset by $14 million recognition of the current portion of deferred gains on sale of property to accumulated deficit. (3) Includes $168 million of operating lease liabilities, partially offset by $1 million recognition of deferred gains on sale of property to accumulated deficit and $9 million of deferred rent reclassified to Operating Right-of-use assets. (4) Represents the tax effect of the recognition of $15 million in deferred gains on sale of property to accumulated deficit. (5) Includes the recognition of $15 million in deferred gains on the sale of property, partially offset by $4 million tax impact on the recognition of the gain. The components of lease cost are as follows: ( $ in millions For the year ended December 31, 2019 Lease cost: Finance lease cost: Amortization of right-of-use assets $ 19 Interest on lease liabilities 15 Finance lease cost 34 Operating lease cost (1) 79 Sublease income (11 ) Total Lease cost $ 102 (1) Includes short-term lease cost of $3 million and variable lease cost of $6 million for the year ended December 31, 2019, respectively. Prior to adoption of ASC 842, pole related rental expenses of $55 million and $56 million in the years ended December 31, 2018 and 2017, respectively, were included in lease expense. However these agreements do not qualify as leases under ASC 842, so they are not included in the lease cost above. These agreements have been included in our purchase obligations table (see Note 22). Finance lease cost included in the above table, was excluded from rental expense in the years ended December 31, 2018 and 2017, respectively, as they related to finance leases. Under ASC 840, rental expense for the years ended December 31, 2018 and 2017 was $102 million and $106 million, respectively. Supplemental balance sheet information related to leases is as follows: ( $ in millions December 31, 2019 Operating right-of-use assets $ 204 (1) Finance right-of-use assets $ 167 (2) Operating lease liabilities $ 211 (3) Finance lease liabilities $ 167 (4) Operating leases: Weighted-average remaining lease term 7.54 years Weighted-average discount rate 8.25 % Finance leases: Weighted-average remaining lease term 9.10 years Weighted-average discount rate 7.98 % (1) Operating ROU assets are included in Other assets (2) Finance ROU assets are included in Property, plant, and equipment (3) This amount represents $44 million and $167 million included in other current liabilities other liabilities (4) This amount represents $25 million and $142 million included in other current liabilities other liabilities Supplemental cash flow information related to leases is as follows: ( $ in millions For the year ended December 31, 2019 Cash paid for amount included in the measurement of lease liabilities, net of amounts received as revenue: Operating cash flows provided by operating leases $ 70 Operating cash flows used by operating leases $ (76 ) Operating cash flows used by finance leases $ (15 ) Financing cash flows used by finance leases $ (35 ) Right-of-use assets obtained in exchange for lease liabilities: Operating leases $ 42 Finance leases $ 34 Lessee For lessee agreements, Frontier elected to apply the short-term lease recognition exemption for all leases that qualify and as such, does not recognize assets or liabilities for leases with terms of less than twelve months, including existing leases at transition. Frontier elected not to separate lease and non-lease components. As of January 1, 2019, Frontier has operating and finance leases for administrative and network properties, vehicles, and certain equipment. Our leases have remaining lease terms of 1 year to 99 years, some of which include options to extend the leases, and some of which include options to terminate the leases within 1 year. The following represents a maturity analysis for our operating and finance lease liabilities as of December 31, 2019: ( $ in millions Operating Leases Finance Leases Future maturities: 2020 $ 50 $ 44 2021 45 38 2022 42 33 2023 39 29 2024 34 21 Thereafter 88 102 Total lease payments 298 267 Less: imputed interest (72 ) (72 ) Present value of lease liabilities $ 226 (1) $ 195 (2) (1) Includes $15 million related to our Northwest Operations. (2) Includes $28 million related to our Northwest Operations. Upon adoption of ASC 842, we recorded the unamortized deferred gain balances for previous sale-leasebacks of real estate assets as a transition adjustment, which had the effect of increasing our accumulated deficit by $15 million ($11 million net of tax). Lessor Frontier is the lessor for operating leases of towers, datacenters, corporate offices, and certain equipment. Our leases have remaining lease terms of 1 year to 99 years, some of which include options to extend the leases, and some of which include options to terminate the leases within 1 year. None of these leases include options for our lessees to purchase the underlying asset. A significant number of Frontier’s service contracts with its customers include equipment rentals. The Company has elected to apply the practical expedient to account for those associated equipment rentals and services as a single, combined component. We have evaluated the service component to be ‘predominant’ in these contracts and have accounted for the combined component as a single performance obligation under ASC 606. For the year ended December 31, 2019, Frontier, as a lessor, recognized revenue of $70 million. The following represents a maturity analysis for our future operating lease payments from customers as of December 31, 2019: ( $ in millions Operating Lease Payments Future maturities of lease payments from customers: 2020 $ 11 2021 10 2022 10 2023 10 2024 1 Thereafter - Total lease payments from customers $ 42 |
Investment And Other Income, Ne
Investment And Other Income, Net | 12 Months Ended |
Dec. 31, 2019 | |
Investment And Other Income, Net [Abstract] | |
Investment And Other Income, Net | (12) Investment and Other Income, Net The components of investment and other income, net for the years ended December 31, 2019, 2018 and 2017 are as follows: For the year ended December 31, ( $ in millions 2019 2018 2017 Interest and dividend income $ 9 $ 6 $ 6 Pension and OPEB benefit (costs) (42 ) 10 (2 ) All other, net (4 ) (3 ) (3 ) Total investment and other income (loss), net $ (37 ) $ 13 $ 1 Pension and OPEB benefit (costs) included in “Investment and other income, net” on our consolidated statements of operations, represent the non-service cost components of pension and other post-retirement benefit (OPEB) costs. Service cost components of pension and OPEB benefit costs are included in “Network related expense” and “Selling, general, and administrative expenses” on our consolidated statements of operations. |
Capital Stock
Capital Stock | 12 Months Ended |
Dec. 31, 2019 | |
Capital Stock [Abstract] | |
Capital Stock | (13) Capital Stock As of December 31, 2019, Frontier has approximately 175 million, 106 million, and 105 million shares of common stock authorized, issued, and outstanding, respectively. Additionally, Frontier has no shares of preferred stock issued and outstanding as of December 31, 2019. Mandatory Convertible Preferred Stock (Series A) On June 29, 2018, all outstanding shares of Frontier’s 11.125% Mandatory Convertible Preferred Stock, Series A, par value $0.01 per share (the “Series A Preferred Stock”) converted at a rate of 1.3333 common shares per share of preferred stock into an aggregate of approximately 25,529,000 shares (net of fractional shares) of the Company’s common stock, pursuant to the terms of the Certificate of Designation governing the Series A Preferred Stock. Frontier issued cash in lieu of fractional shares of common stock in the conversion. These payments were recorded as a reduction to Additional paid-in capital. The final dividend of $54 million was paid on July 2, 2018. The Series A Preferred Stock was issued in June 2015 when we completed a registered offering of 19.25 million preferred shares at an offering price of $100 per share. Aggregate net proceeds of the offering were $1,866 million after deducting commissions and estimated expenses. We used the net proceeds from this offering to fund a portion of the acquisition price of the CTF Acquisition and related fees and expenses. |
Stock Plans
Stock Plans | 12 Months Ended |
Dec. 31, 2019 | |
Stock Plans [Abstract] | |
Stock Plans | (14) Stock Plans At December 31, 2019, we have three stock-based compensation plans under which grants were made and awards remained outstanding. No further awards may be granted under two of the plans: the 2013 Equity Incentive Plan (the 2013 EIP) and the Deferred Fee Plan and the Directors’ Equity Plan. At December 31, 2019, there were approximately 5,667,000 shares authorized for grant and approximately 3,198,000 shares available for grant under the 2017 Equity Incentive Plan (the 2017 EIP together with the 2013 EIP (the “EIPs”). Our general policy is to issue treasury shares upon the grant of restricted shares and the exercise of options. 2013 and 2017 Equity Incentive Plans Since the expiration dates of the 2013 EIP on May 10, 2017, no awards have been or may be granted under such plan. Under the 2017 EIP, awards of our common stock may be granted to eligible employees in the form of incentive stock options, non-qualified stock options, SARs, restricted stock, performance shares or other stock-based awards. As discussed under the Non-Employee Directors’ Compensation Plans below, prior to May 25, 2006 non-employee directors received an award of stock options upon commencement of service. No awards may be granted more than 10 years after the effective date (May 10, 2017) of the 2017 EIP plan. The exercise price of stock options and SARs under the EIPs generally are equal to or greater than the fair market value of the underlying common stock on the date of grant. Stock options are not ordinarily exercisable on the date of grant but vest over a period of time (generally four years). Under the terms of the EIPs, subsequent stock dividends and stock splits have the effect of increasing the option shares outstanding, which correspondingly decrease the average exercise price of outstanding options. Performance Shares/Units On February 15, 2012, Frontier’s Compensation Committee, in consultation with the other non-management directors of Frontier’s Board of Directors and the Committee’s independent executive compensation consultant, adopted the Frontier Long-Term Incentive Plan (the LTIP). LTIP awards are granted in the form of performance shares or units/cash. The LTIP is currently offered under the EIPs, and participants consist of senior vice presidents and above. The LTIP awards have performance, market and time-vesting conditions. Beginning in 2012, during the first 90 days of a three year performance period (a Measurement Period), a target number of performance shares or units are awarded to each LTIP participant with respect to the Measurement Period. The performance metrics under the LTIP are (1) annual targets for operating cash flow or adjusted free cash flow per share based on a goal set during the first 90 days of each year in the Measurement Period and (2) an overall performance “modifier” set during the first 90 days of the Measurement Period, based on Frontier’s total return to stockholders (i.e., Total Shareholder Return or TSR) relative to the Integrated Telecommunications Services Group (GICS Code 50101020) for the Measurement Period. Operating cash flow or adjusted free cash flow per share performance is determined at the end of each year and the annual results will be averaged at the end of the Measurement Period to determine the preliminary number of shares earned under the LTIP award. The TSR performance measure is then applied to decrease or increase payouts based on Frontier’s three year relative TSR performance. LTIP awards, to the extent earned, will be paid out in the form of common stock or cash shortly following the end of the Measurement Period. The number of shares of common stock or units earned at the end of each Measurement Period may be more or less than the number of target performance shares or units granted as a result of operating cash flow or adjusted free cash flow per share and TSR performance. An executive must maintain a satisfactory performance rating during the Measurement Period and must be employed by Frontier at the end of the Measurement Period in order for the award to vest. The Compensation Committee will determine the number of shares or units earned for each Measurement Period in February of the year following the end of the Measurement Period. The following summary presents information regarding LTIP target performance shares as of December 31, 2019 and changes during the three years then ended with regard to LTIP shares: Number of Shares (in thousands) Balance at December 31, 2016 190 LTIP target performance shares granted 211 LTIP target performance shares earned (41 ) LTIP target performance shares forfeited (54 ) Balance at December 31, 2017 306 LTIP target performance shares granted 284 LTIP target performance shares earned (18 ) LTIP target performance shares forfeited (75 ) Balance at December 31, 2018 497 LTIP target performance shares/units granted - LTIP target performance shares/units earned (381 ) LTIP target performance shares/units forfeited (20 ) Balance at December 31, 2019 96 For purposes of determining compensation expense, the fair value of each performance share is measured at the end of each reporting period and, therefore, will fluctuate based on the price of Frontier common stock as well as performance relative to the targets. Frontier recognized an expense, included in “Selling, general, and administrative expenses” of $4 million, $5 million, and $1 million during 2019, 2018 and 2017, respectively, for the LTIP. Restricted Stock The following summary presents information regarding unvested restricted stock as of December 31, 2019 and changes during the three years then ended with regard to restricted stock under the 2009 EIP, 2013 EIP, and 2017 EIP: Number of Shares Weighted Average Grant Date Fair Value Aggregate Fair Value (in thousands) (per share) (in millions) Balance at December 31, 2016 549 $ 78.00 $ 28 Restricted stock granted 454 $ 47.77 $ 3 Restricted stock vested (240 ) $ 80.86 $ 2 Restricted stock forfeited (130 ) $ 60.92 Balance at December 31, 2017 633 $ 58.63 $ 4 Restricted stock granted 2,023 $ 8.26 $ 5 Restricted stock vested (221 ) $ 66.82 $ (1 ) Restricted stock forfeited (577 ) $ 16.47 Balance at December 31, 2018 1,858 $ 16.02 $ 4 Restricted stock granted 105 $ 2.00 $ - Restricted stock vested (1,039 ) $ 19.05 $ (1 ) Restricted stock forfeited (24 ) $ 28.30 Balance at December 31, 2019 900 $ 10.57 $ 1 For purposes of determining compensation expense, the fair value of each restricted stock grant is estimated based on the average of the high and low market price of a share of our common stock on the date of grant. Total remaining unrecognized compensation cost associated with unvested restricted stock awards that is deferred at December 31, 2019 was $4 million and the weighted average vesting period over which this cost is expected to be recognized is less than 1 year. We have granted restricted stock awards to employees in the form of our common stock. None of the restricted stock awards may be sold, assigned, pledged or otherwise transferred, voluntarily or involuntarily, by the employees until the restrictions lapse, subject to limited exceptions. The restrictions are time-based. Compensation expense, recognized in “Selling, general and administrative expenses”, of $11 million, $13 million and $18 million for the years ended December 31, 2019, 2018 and 2017, respectively, has been recorded in connection with these grants. Non-Employee Directors’ Compensation Plans As of October 1, 2013, stock units are credited to the director’s account in an amount that is determined as follows: the total cash value of the fees payable to the director is divided by the closing price of Frontier common stock on the grant date of the units. Units are credited to the director’s account quarterly. Directors must also elect to convert the units to either common stock (convertible on a one-to-one basis) or cash upon retirement or death. Dividends were paid on stock units held by directors at the same rate and at the same time as we paid dividends on shares of our common stock during 2017. Dividends on stock units were paid in the form of additional stock units in 2017. There were 13 directors participating in the Director Plans during all or part of 2019. The total plan units earned were 155,045, 183,791 and 94,034 in 2019, 2018 and 2017, respectively. Since the directors have the option to receive distributions from their stock units in cash, they are considered liability-based awards. Prior to adoption of ASU 2018-07, “Compensation – Stock Compensation (ASC 718): Improvements to Non-employee Share-Based payment accounting;” compensation expense was based on the current market value of our common stock at each reporting date. Upon adoption, compensation expense for all unvested awards was based on the market value of our common stock at the date of adoption and compensation expense for awards granted following adoption were based on the market value of our common stock at the grant date for each award. In connection with the Director Plans, there were compensation costs associated with the issuance of stock units of less than $1 million in 2019, $(1) million in 2018 and $(5) million in 2017. Cash compensation associated with the Director Plans was $4 million in 2019, and $1 million in both 2018 and 2017. These costs are recognized in “Selling, general and administrative expenses”. |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2019 | |
Income Taxes [Abstract] | |
Income Taxes | (15) Income Taxes The following is a reconciliation of the provision for income taxes computed at the federal statutory rate to income taxes computed at the effective rates for the years ended December 31, 2019, 2018 and 2017: 2019 2018 2017 Consolidated tax provision at federal statutory rate 21.0 % 21.0 % 35.0 % State income tax provisions, net of federal income tax benefit 2.6 1.6 1.7 Tax reserve adjustment - 0.1 0.1 Changes in certain deferred tax balances (2.3 ) (3.5 ) (0.4 ) Goodwill impairment (11.8 ) (10.4 ) (19.1 ) Share-based payments (0.1 ) (0.5 ) - Federal research and development credit - 0.1 0.1 Deferred Tax Remeasurement - 2017 Tax Reform - 0.6 26.1 All other, net - (0.2 ) (0.1 ) Effective tax rate 9.4 % 8.8 % 43.4 % On December 22, 2017, the U.S. government enacted comprehensive tax legislation commonly known as the Tax Cut and Jobs Act (the TCJA). The TCJA, makes broad and complex changes to the U.S. tax code. The TCJA reduces the corporate tax rate to 21%, effective January 1, 2018. Under ASC 740, the effects of new legislation are recognized upon enactment. Accordingly, recognition of the tax effects of the TCJA were required in the interim and annual periods that include December 22, 2017. On December 22, 2017, the SEC staff issued Staff Accounting Bulletin No. 118 (“SAB 118”), which allowed the Company to record provisional amounts during a measurement period not to extend beyond one year of the enactment date. As a result, the Company previously provided provisional estimates of the effect of the TCJA in the financial statements. In the fourth quarter of 2018, the Company completed our analysis to determine the effects of the TCJA and recorded immaterial adjustments as of December 31, 2018. On July 1, 2019, the Board of Directors of Frontier Communications adopted a shareholder’s right plan (Rights Agreement) designed to protect the availability of the net operating loss carryforwards under the Internal Revenue Code (IRC). The Rights Agreement is intended to reduce the likelihood of an ownership change under Section 382 of the IRC by deterring any person or group of affiliated or associated persons from acquiring beneficial ownership of 4.9% or more of the outstanding common shares. On March 18, 2020, the Families First Coronavirus Response Act (FFCR Act), and on March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) were each enacted in response to the COVID-19 pandemic. The FFCR Act and the CARES Act contain numerous income tax provisions, such as relaxing limitations on the deductibility of interest and the use of net operating losses arising in taxable years beginning after December 31, 2017. Income taxes includes the tax impact of $524 million, $72 million, and $608 million related to the goodwill impairment for the years ended December 31, 2019, 2018 and 2017, respectively. As of December 31, 2019, amounts pertaining to expected income tax refunds of $1 million are included in “Income taxes and other current assets” in the consolidated balance sheet. In 2019 and 2018, we paid net federal and state income tax totaling $4 million. The components of the net deferred income tax liability (asset) at December 31 are as follows: ( $ in millions 2019 2018 Deferred income tax liabilities: Property, plant and equipment basis differences $ 2,184 $ 2,182 Intangibles - 18 Deferred revenue/expense 65 66 Other, net 56 - $ 2,305 $ 2,266 Deferred income tax assets: Pension liability $ 256 $ 209 Intangibles 665 - Tax operating loss carryforward 898 1,027 Employee benefits 184 176 Interest expense deduction limitation carryforward 238 104 Accrued expenses 37 41 Lease obligations 92 33 Tax credit 39 37 Allowance for doubtful accounts 32 26 Other, net 7 1 2,448 1,654 Less: Valuation allowance (605 ) (497 ) Net deferred income tax asset 1,843 1,157 Net deferred income tax liability $ 462 $ 1,109 Our federal net operating loss carryforward as of December 31, 2019 is estimated at $1.6 billion. The majority of the federal loss carryforward will begin to expire after 2036 Our state tax operating loss carryforward as of December 31, 2019 is estimated at $9.8 billion. A portion of our state loss carryforward will continue to expire annually through 2039 Our federal research and development credit as of December 31, 2019 is estimated at $21 million. The federal research and development credit will expire between 2034 2039 Our various state credits as of December 31, 2019 are estimated at $36 million. The state credits will expire between 2020 2023 As of December 31, 2019, Frontier has a valuation allowance of $605 million to reduce deferred tax assets to an amount more likely than not to be realized. This valuation allowance is related to state net operating losses, state tax credits, and the state impact from the federal limitation on interest expense deduction. In evaluating Frontier’s ability to realize its deferred tax assets, management considers whether it is more likely than not that some or all of the deferred tax assets will not be realized. Management also considered the projected reversal of deferred tax liabilities and projected future taxable income in making this assessment. Based upon this assessment, management believes it is more likely than not Frontier will realize the benefits of these deductible differences, net of valuation allowance. The provision (benefit) for federal and state income taxes, as well as the taxes charged or credited to equity of Frontier, includes amounts both payable currently and deferred for payment in future periods as indicated below: ( $ in millions 2019 2018 2017 Income tax expense (benefit): Current: Federal $ 1 $ (1 ) (4 ) State 7 6 5 Total Current 8 5 1 Deferred: Federal (606 ) (77 ) (1,312 ) State (13 ) 10 (72 ) Total Deferred (619 ) (67 ) (1,384 ) Total income tax benefit (611 ) (62 ) (1,383 ) Income taxes charged (credited) to equity of Frontier: Utilization of the benefits arising from restricted stock - - (1 ) Deferred income taxes (benefits) arising from the recognition of additional pension/OPEB liability 32 (31 ) 7 Total income taxes charged (credited) to equity of Frontier 32 (31 ) 6 Total income tax benefit $ (579 ) $ (93 ) $ (1,377 ) U.S. GAAP requires applying a “more likely than not” threshold to the recognition and derecognition of uncertain tax positions either taken or expected to be taken in Frontier’s income tax returns. The total amount of our gross tax liability for tax positions that may not be sustained under a “more likely than not” threshold amounts to $12 million as of December 31, 2019, including immaterial interest. The amount of our uncertain tax positions, for which it is reasonably possible that the total amounts of unrecognized tax benefits will significantly increase or decrease during the next twelve months, and which would affect our effective tax rate, is $0 as of December 31, 2019. Frontier’s policy regarding the classification of interest and penalties is to include these amounts as a component of income tax expense. This treatment of interest and penalties is consistent with prior periods. We are subject to income tax examinations generally for the years 2015 forward for federal and 2015 forward for state filing jurisdictions. We also maintain uncertain tax positions in various state jurisdictions. The following table sets forth the changes in Frontier’s balance of unrecognized tax benefits for the years ended December 31, 2019 and 2018: ($ in millions) 2019 2018 Unrecognized tax benefits - beginning of year $ 11 $ 12 Gross increases - prior year tax positions - - Gross increases - current year tax positions 1 - Gross decreases - FIN 48 liability release - - Gross decreases - expired statute of limitations - (1 ) Unrecognized tax benefits - end of year $ 12 $ 11 |
Net Loss Per Common Share
Net Loss Per Common Share | 12 Months Ended |
Dec. 31, 2019 | |
Net Loss Per Common Share [Abstract] | |
Net Loss Per Common Share | (16) Net Loss Per Common Share The reconciliation of the net loss per common share calculation for the years ended December 31, 2019, 2018 and 2017 is as follows: ( $ in millions and shares in thousands, except per share amounts 2019 2018 2017 Net loss used for basic and diluted earnings (loss) per share: Net loss attributable to Frontier common shareholders $ (5,911 ) $ (750 ) $ (2,018 ) Less: Dividends paid on unvested restricted stock awards - - (2 ) Total basic net loss attributable to Frontier common shareholders $ (5,911 ) $ (750 ) $ (2,020 ) Effect of loss related to dilutive stock units - - - Total diluted net loss attributable to Frontier common shareholders $ (5,911 ) $ (750 ) $ (2,020 ) Basic earnings (loss) per share: Total weighted average shares and unvested restricted stock awards outstanding – basic 105,356 91,523 78,409 Less: Weighted average unvested restricted stock awards (1,291 ) (1,840 ) (673 ) Total weighted average shares outstanding – basic 104,065 89,683 77,736 Basic net loss per share attributable to Frontier common shareholders $ (56.80 ) $ (8.37 ) $ (25.99 ) Diluted earnings (loss) per share: Total weighted average shares outstanding – basic 104,065 89,683 77,736 Effect of dilutive shares - - - Total weighted average shares outstanding – diluted 104,065 89,683 77,736 Diluted net loss per share attributable to Frontier common shareholders $ (56.80 ) $ (8.37 ) $ (25.99 ) In calculating diluted net loss per common share for the years ended December 31, 2019, 2018 and 2017 the effect of all common stock equivalents is excluded from the computation as the effect would be antidilutive. Stock Options For each of the years ended December 31, 2019, 2018 and 2017, options to purchase 1,334 shares, issuable under employee compensation plans were excluded from the computation of diluted earnings (loss) per share (EPS) for those periods because the exercise prices were greater than the average market price of our common stock and, therefore, the effect would be antidilutive. Stock Units At December 31, 2019, 2018 and 2017, we had 339,544, 348,093 and 203,952 stock units, respectively, issued under the Director Plans and the 2013 EIP. These securities have not been included in the diluted income per share of common stock calculation because their inclusion would have an antidilutive effect. Mandatory Convertible Preferred Stock The impact of the common share equivalents associated with approximately 19,250,000 shares of Series A Preferred stock described above were not included in the calculation of diluted EPS as of December 31, 2017, as their impact was antidilutive. |
Comprehensive Loss
Comprehensive Loss | 12 Months Ended |
Dec. 31, 2019 | |
Comprehensive Loss [Abstract] | |
Comprehensive Loss | (17) Comprehensive Loss Comprehensive income (loss) consists of net income (loss) and other gains and losses affecting shareholders’ investment and pension/postretirement benefit (OPEB) liabilities that, under GAAP, are excluded from net income (loss). The components of accumulated other comprehensive loss, net of tax at December 31, 2019, 2018 and 2017, and changes for the years then ended, are as follows: ($ in millions) Pension Costs OPEB Costs Total Balance at December 31, 2016 (1) $ (403 ) $ 16 $ (387 ) Other comprehensive income (loss) before reclassifications (12 ) (31 ) (43 ) Amounts reclassified from accumulated other comprehensive income (loss) 70 (6 ) 64 Net current-period other comprehensive income (loss) 58 (37 ) 21 Balance at December 31, 2017 (1) (345 ) (21 ) (366 ) Other comprehensive income (loss) before reclassifications (191 ) 51 (140 ) Amounts reclassified from accumulated other comprehensive income (loss) 47 (4 ) 43 Net current-period other comprehensive income (loss) (144 ) 47 (97 ) Balance at December 31, 2018 (1) (489 ) 26 (463 ) Other comprehensive income (loss) before reclassifications (201 ) 17 (184 ) Amounts reclassified from accumulated other comprehensive income (loss) 89 (13 ) 76 Net current-period other comprehensive income (loss) (112 ) 4 (108 ) Impact of adoption of ASU 2018-02 (83 ) 4 (79 ) Balance at December 31, 2019 (1) $ (684 ) $ 34 $ (650 ) (1) Pension and OPEB amounts are net of deferred tax balances of $204 million, $250 million, $223 million and $231 million as of December 31, 2019, 2018, 2017, and 2016, respectively. As a result of the pension settlement accounting discussed in Note 20, Frontier recorded pension settlement charges totaling $57 million ($43 million net of tax), $41 million ($31 million net of tax), and $83 million ($51 million net of tax), which were reclassified from accumulated Other comprehensive income (loss) during 2019, 2018 and 2017, respectively. The significant items reclassified from each component of accumulated other comprehensive loss for the years ended December 31, 2019, 2018 and 2017 are as follows: ($ in millions) Amount Reclassified from Accumulated Other Comprehensive Loss (1) Details about Accumulated Other Comprehensive Loss Components 2019 2018 2017 Affected Line Item in the Statement where Net loss is Presented Amortization of Pension Cost Items (2) Actuarial gains (losses) $ (58 ) $ (24 ) $ (30 ) Pension settlement costs (57 ) (41 ) (83 ) Reclassifications, pretax (115 ) (65 ) (113 ) Loss before income taxes Tax Impact 26 18 43 Income tax (expense) benefit Reclassifications, net of tax $ (89 ) $ (47 ) $ (70 ) Net loss Amortization of OPEB Cost Items (2) Prior-service credits (costs) $ 11 $ 9 $ 9 Actuarial gains (losses) 4 (3 ) - Reclassifications, pretax 15 6 9 Loss before income taxes Tax impact (2 ) (2 ) (3 ) Income tax (expense) benefit Reclassifications, net of tax $ 13 $ 4 $ 6 Net loss (1) Amounts in parentheses indicate losses. (2) These accumulated other comprehensive loss components are included in the computation of net periodic pension and OPEB costs (see Note 20 - Retirement Plans for additional details). |
Segment Information
Segment Information | 12 Months Ended |
Dec. 31, 2019 | |
Segment Information [Abstract] | |
Segment Information | (18) Segment Information We operate in one operating and one reportable segment consisting of our disposal group, and the remaining Frontier Operations outside of the disposal group. Frontier provides both regulated and unregulated voice, data and video services to consumer and commercial customers and is typically the incumbent voice services provider in its service areas. |
Quarterly Financial Data
Quarterly Financial Data | 12 Months Ended |
Dec. 31, 2019 | |
Quarterly Financial Data [Abstract] | |
Quarterly Financial Data | (19) Quarterly Financial Data (Unaudited) 2019 ($ in millions, except per share amounts) First Quarter Second Quarter Third Quarter Fourth Quarter Total Year Revenue $ 2,101 $ 2,067 $ 1,997 $ 1,942 $ 8,107 Operating income (loss ) (2)(3) $ 339 $ (5,459 ) $ 26 $ 220 $ (4,873 ) Net loss attributable to Frontier common shareholders (2)(3) $ (87 ) $ (5,317 ) $ (345 ) $ (162 ) $ (5,911 ) Basic and diluted net loss per share attributable to Frontier common shareholders (1)(2)(3) $ (0.84 ) $ (51.07 ) $ (3.31 ) $ (1.55 ) $ (56.80 ) (1) The quarterly net loss per share amounts are rounded to the nearest cent. Annual net loss per share may vary depending on the effect of such rounding and our preferred stock conversion during 2019. (2) During 2019, we recorded aggregate goodwill impairment charges of $5,725 million ($5,201 million after-tax). Refer to Note 8 for further details. (3) During 2019, we recorded aggregate losses on the disposal of our Northwest Operations of $446 million ($446 million after-tax). Refer to Note 7 for further details. 2018 ($ in millions, except per share amounts) First Quarter Second Quarter Third Quarter Fourth Total Year Revenue (3) $ 2,199 $ 2,162 $ 2,126 $ 2,124 $ 8,611 Operating income (loss) (2)(3) $ 366 $ 367 $ (33 ) $ 127 $ 827 Net loss attributable to Frontier common shareholders (2)(3) $ (33 ) $ (72 ) $ (426 ) $ (219 ) $ (750 ) Basic and diluted net loss per share attributable to Frontier common shareholders (1)(2)(3) $ (0.44 ) $ (0.92 ) $ (4.11 ) $ (2.12 ) $ (8.37 ) (1) The quarterly net loss per share amounts are rounded to the nearest cent. Annual net loss per share may vary depending on the effect of such rounding and our preferred stock conversion during 2018. (2) During 2018, we recorded aggregate goodwill impairment charges of $641 million ($572 million after-tax). Refer to Note 8 for further details. (3) Effective January 1, 2018, we adopted ASU 2014-09, “Revenue from Contracts with Customers,” as modified (ASC 606) using the modified retrospective method. Under this approach, prior period results were not restated to reflect the impact of ASC 606, resulting in limited comparability between 2018 and 2017 operating results. |
Retirement Plans
Retirement Plans | 12 Months Ended |
Dec. 31, 2019 | |
Retirement Plans [Abstract] | |
Retirement Plans | (20) Retirement Plans We sponsor a noncontributory defined benefit pension plan covering a significant number of our former and current employees and other postretirement benefit plans that provide medical, dental, life insurance and other benefits for covered retired employees and their beneficiaries and covered dependents. The pension plan and postretirement benefit plans are closed to the majority of our newly hired employees. The benefits are based on years of service and final average pay or career average pay. Contributions are made in amounts sufficient to meet ERISA funding requirements while considering tax deductibility. Plan assets are invested in a diversified portfolio of equity and fixed-income securities and alternative investments. The accounting results for pension and other postretirement benefit costs and obligations are dependent upon various actuarial assumptions applied in the determination of such amounts. These actuarial assumptions include the following: discount rates, expected long-term rate of return on plan assets, future compensation increases, employee turnover, healthcare cost trend rates, expected retirement age, optional form of benefit and mortality. We review these assumptions for changes annually with our independent actuaries. We consider our discount rate and expected long-term rate of return on plan assets to be our most critical assumptions. The discount rate is used to value, on a present value basis, our pension and other postretirement benefit obligations as of the balance sheet date. The same rate is also used in the interest cost component of the pension and postretirement benefit cost determination for the following year. The measurement date used in the selection of our discount rate is the balance sheet date. Our discount rate assumption is determined annually with assistance from our independent actuaries based on the pattern of expected future benefit payments and the prevailing rates available on long-term, high quality corporate bonds that approximate the benefit obligation. As of December 31, 2019, 2018 and 2017, we utilized an estimation technique that is based upon a settlement model (Bond:Link) that permits us to closely match cash flows to the expected payments to participants. This rate can change from year-to-year based on market conditions that affect corporate bond yields. As a result of the technique described above, Frontier is utilizing a discount rate of 3.40% as of December 31, 2019 for its qualified pension plan, compared to rates of 4.30% and 3.70% in 2018 and 2017, respectively. The discount rate for postretirement plans as of December 31, 2019 was a range of 3.40% to 3.50% compared to a range of 4.30% to 4.40% in 2018 and 3.70% to 3.80% in 2017. The pension plan contains provisions that provide certain employees with the option of receiving a lump sum payment upon retirement. Frontier’s accounting policy is to record these payments as a settlement only if, in the aggregate, they exceed the sum of the annual service and interest costs for the Pension Plan’s net periodic pension benefit cost. During year ended December 31, 2019, lump sum pension settlement payments to terminated or retired individuals amounted to $235 million, which exceeded the settlement threshold of $212 million, and as a result, Frontier recognized non-cash settlement charges totaling $57 million during 2019. The non-cash charge accelerated the recognition of a portion of the previously unrecognized actuarial losses in the Pension Plan. These non-cash charges increased our recorded net loss and accumulated deficit, with an offset to accumulated other comprehensive loss in shareholders’ equity. Frontier recognized non-cash settlement charges totaling $41 million and $83 million during 2018 and 2017, respectively. During 2019, the Company recognized a charge of $44 million to reflect the cost of pension/OPEB special termination benefit enhancements related to a voluntary severance program. Our pension plan assets increased from $2,348 million at December 31, 2018 to $2,730 million at December 31, 2019, an increase of $382 million, or 16%. This increase was a result of contributions of $166 million and positive investment returns (net of investment management and administrative fees) of $516 million, partially offset by benefit payments of $300 million. The expected long-term rate of return on plan assets is applied in the determination of periodic pension and postretirement benefit cost as a reduction in the computation of the expense. In developing the expected long-term rate of return assumption, we considered published surveys of expected market returns, 10 and 20 year actual returns of various major indices, and our own historical 5 year, 10 year and 20 year investment returns. The expected long-term rate of return on plan assets is based on an asset allocation assumption of 40% in long-duration fixed income securities, and 60% in equity securities and other investments. We review our asset allocation at least annually and make changes when considered appropriate. Our pension asset investment allocation decisions are made by the Retirement Investment & Administration Committee (RIAC), a committee comprised of members of management, pursuant to a delegation of authority by the Board of Directors. Asset allocation decisions take into account expected market return assumptions of various asset classes as well as expected pension benefit payment streams. When analyzing anticipated benefit payments, management considers both the absolute amount of the payments as well as the timing of such payments. Our expected long-term rate of return on plan assets was 7.50% in 2019 and 2018. For 2020, we will assume a rate of return of 7.50%. Our pension plan assets are valued at fair value as of the measurement date. The measurement date used to determine pension and other postretirement benefit measures for the pension plan and the postretirement benefit plan is December 31. The remeasured funded status of the pension plan was approximately 73%, as of December 31, 2019. Pension Benefits The following tables set forth the pension plan’s projected benefit obligations, fair values of plan assets and the pension benefit liability recognized on our consolidated balance sheets as of December 31, 2019 and 2018 and the components of total pension benefit cost for the years ended December 31, 2019, 2018 and 2017. The below tables include all investment activity related to assets and obligations that are expected to be transferred in connection with the planned divestiture of our Northwest Operations: ( $ in millions 2019 2018 Change in projected benefit obligation (PBO) PBO at beginning of year $ 3,173 $ 3,363 Service cost 82 90 Interest cost 130 125 Actuarial (gain) loss 603 (88 ) Benefits paid (65 ) (63 ) Settlements (235 ) (254 ) Special termination benefits 38 - PBO at end of year $ 3,726 $ 3,173 Change in plan assets Fair value of plan assets at beginning of year $ 2,348 $ 2,674 Actual return on plan assets 516 (159 ) Employer contributions 166 150 Settlements (235 ) (254 ) Benefits paid (65 ) (63 ) Fair value of plan assets at end of year $ 2,730 $ 2,348 Funded status $ (996 ) $ (825 ) Amounts recognized in the consolidated balance sheet Pension and other postretirement benefits – current $ - $ - Pension and other postretirement benefits – noncurrent $ (996 ) $ (825 ) Accumulated other comprehensive loss $ 899 $ 754 ( $ in millions 2019 2018 2017 Components of total pension benefit cost Service cost $ 82 $ 90 $ 97 Interest cost on projected benefit obligation 130 125 127 Expected return on plan assets (172 ) (192 ) (186 ) Amortization of unrecognized loss 58 24 30 Net periodic pension benefit cost 98 47 68 Pension settlement costs 57 41 83 Pension special termination benefit enhancements 38 - 5 Total pension benefit cost $ 193 $ 88 $ 156 The expected amortization of deferred unrecognized loss, included in Other comprehensive loss, in 2020 is $70 million. We capitalized $24 million, $26 million and $26 million of pension and OPEB expense into the cost of our capital expenditures during the years ended December 31, 2019, 2018 and 2017, respectively, as the costs relate to our engineering and plant construction activities. The plan’s weighted average asset allocations at December 31, 2019 and 2018 by asset category are as follows: 2019 2018 Asset category: Equity securities 49 % 48 % Debt securities 39 % 40 % Alternative investments 12 % 12 % Total 100 % 100 % The plan’s expected benefit payments over the next 10 years are as follows: ($ in millions) Amount 2020 $ 296 2021 295 2022 286 2023 279 2024 277 2025-2029 1,308 Total $ 2,741 In 2019, required pension plan contributions were approximately $166 million. In 2018, required pension plan contributions were approximately $150 million, consisting of cash payments of $113 million and the contribution of real property with a fair value of $37 million. See Note 6 for further discussion of contributed real estate. In 2017, required pension plan contributions were approximately $75 million, net of the Differential (as defined below), consisting of all cash payments. As part of the CTF Acquisition, Verizon was required to make a cash payment to Frontier for the difference in assets initially transferred by Verizon into the pension plan and the related obligation (the Differential). In 2017, we received the $131 million Differential payment from Verizon, and have remitted an equivalent amount to the pension plan as of December 31, 2017. As the Differential was reflected as a receivable of the pension plan at December 31, 2016, the cash funding had no impact to plan assets. The accumulated benefit obligation for the plan was $3,646 million and $3,106 million at December 31, 2019 and 2018, respectively. Assumptions used in the computation of annual pension costs and valuation of the year-end obligations were as follows: 2019 2018 2017 Discount rate - used at year end to value obligation 3.40 % 4.30 % 3.70 % Discount rate - used at beginning of year to compute annual cost 4.30 % 3.70 % 4.10 % Expected long-term rate of return on plan assets 7.50 % 7.50 % 7.50 % Rate of increase in compensation levels 2.00 % 2.00 % 2.50 % Postretirement Benefits Other Than Pensions - “OPEB” The following tables set forth the OPEB plans’ benefit obligations, fair values of plan assets and the postretirement benefit liability recognized on our consolidated balance sheets as of December 31, 2019 and 2018 and the components of total postretirement benefit cost for the years ended December 31, 2019, 2018 and 2017. The below tables include all investment activity related to assets and obligations that are expected to be transferred in connection with the planned divestiture of our Northwest Operations: ( $ in millions) 2019 2018 Change in benefit obligation Benefit obligation at beginning of year $ 965 $ 1,016 Service cost 20 21 Interest cost 41 38 Plan amendments (149 ) - Plan participants’ contributions 7 7 Actuarial (gain) loss 129 (79 ) Benefits paid (47 ) (38 ) Special termination benefits 6 - Benefit obligation at end of year $ 972 $ 965 Change in plan assets Fair value of plan assets at beginning of year $ - $ - Plan participants’ contributions 7 7 Employer contribution 40 31 Benefits paid (47 ) (38 ) Fair value of plan assets at end of year $ - $ - Funded status $ (972 ) $ (965 ) Amounts recognized in the consolidated balance sheet Pension and other postretirement benefits – current $ (43 ) $ (39 ) Pension and other postretirement benefits – noncurrent $ (900 ) $ (926 ) Pension and other postretirement benefits – AHFS* $ (29 ) $ - Accumulated other comprehensive (gain) loss $ (45 ) $ (41 ) * Assets Held for Sale ( $ in millions 2019 2018 2017 Components of total postretirement benefit cost Service cost $ 20 $ 21 $ 21 Interest cost on projected benefit obligation 41 38 40 Amortization of prior service credit (11 ) (9 ) (9 ) Amortization of unrecognized gain (loss) (4 ) 3 - Net periodic postretirement benefit cost 46 53 52 OPEB special termination benefit enhancements 6 - - Total postretirement benefit cost $ 52 $ 53 $ 52 During 2019, Frontier amended the medical coverage for certain postretirement benefit plans, which resulted in a $149 million reduction in the accumulated postretirement benefit obligation. Remeasurement of the postretirement benefit plan obligation resulted in an actuarial loss of $129 million. The expected amortization of prior service credit in 2020 is $(32) million and the expected amortization of unrecognized gain in 2020 is $5 million. Assumptions used in the computation of annual OPEB costs and valuation of the year-end OPEB obligations were as follows: 2019 2018 2017 Discount rate - used at year end to value obligation 3.40% - 3.50 % 4.30% - 4.40 % 3.70% - 3.80 % Discount rate - used to compute annual cost 4.30% - 4.40 % 3.70% - 3.80 % 4.10% - 4.30 % The OPEB plan’s expected benefit payments over the next 10 years are as follows: ($ in millions) Gross Benefit Medicare Part D Subsidy Total 2020 $ 43 $ - $ 43 2021 49 - 49 2022 49 - 49 2023 48 - 48 2024 53 - 53 2025-2029 274 2 276 Total $ 516 $ 2 $ 518 For purposes of measuring year-end benefit obligations, we used, depending on medical plan coverage for different retiree groups, a 6.50% annual rate of increase in the per-capita cost of covered medical benefits, gradually decreasing to 5.00% in the year 2025 and remaining at that level thereafter. The effect of a 1.00% increase in the assumed medical cost trend rates for each future year on the aggregate of the service and interest cost components of the total postretirement benefit cost would be $1 million and the effect on the accumulated postretirement benefit obligation for health benefits would be $18 million. The effect of a 1.00% decrease in the assumed medical cost trend rates for each future year on the aggregate of the service and interest cost components of the total postretirement benefit cost would be $(1) million and the effect on the accumulated postretirement benefit obligation for health benefits would be $(19) million. The amounts in accumulated other comprehensive (gain) loss before tax that have not yet been recognized as components of net periodic benefit cost at December 31, 2019 and 2018 are as follows: Pension Plan OPEB ( $ in millions 2019 2018 2019 2018 Net actuarial loss $ 899 $ 754 $ 105 $ (28 ) Prior service credit - - (150 ) (13 ) Total $ 899 $ 754 $ (45 ) $ (41 ) The amounts recognized as a component of accumulated other comprehensive loss for the years ended December 31, 2019 and 2018 are as follows: Pension Plan OPEB ( $ in millions 2019 2018 2019 2018 Accumulated other comprehensive (gain) loss at beginning of year $ 754 $ 556 $ (41 ) $ 33 Net actuarial (gain) loss recognized during year (58 ) (24 ) 4 (3 ) Prior service credit recognized during year - - 11 9 Prior service credit occurring during year - - (149 ) - Net actuarial (gain) loss occurring during year 260 263 130 (80 ) Settlement loss recognized (57 ) (41 ) - - Net amount recognized in comprehensive income (loss) for the year 145 198 (4 ) (74 ) Accumulated other comprehensive (gain) loss at end of year $ 899 $ 754 $ (45 ) $ (41 ) 401(k) Savings Plans We sponsor employee retirement savings plans under section 401(k) of the Internal Revenue Code. The plans cover substantially all full-time employees. Under certain plans, we provide matching contributions. Employer contributions were $44 million, $45 million and $48 million for 2019, 2018 and 2017, respectively. |
Fair Value Of Financial Instrum
Fair Value Of Financial Instruments | 12 Months Ended |
Dec. 31, 2019 | |
Fair Value Of Financial Instruments [Abstract] | |
Fair Value Of Financial Instruments | (21) Fair Value of Financial Instruments Fair value is defined under GAAP as the exit price associated with the sale of an asset or transfer of a liability in an orderly transaction between market participants at the measurement date. Valuation techniques used to measure fair value under GAAP must maximize the use of observable inputs and minimize the use of unobservable inputs. In addition, GAAP establishes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value. The three input levels in the hierarchy of fair value measurements are defined by the FASB generally as follows: Input Level Description of Input Level 1 Observable inputs such as quoted prices in active markets for identical assets. Level 2 Inputs other than quoted prices in active markets that are either directly or indirectly observable. Level 3 Unobservable inputs in which little or no market data exists. The following tables represent Frontier’s pension plan assets measured at fair value on a recurring basis as of December 31, 2019 and 2018: Fair Value Measurements at December 31, 2019 ( $ in millions Total Level 1 Level 2 Level 3 Cash and Cash Equivalents $ 46 $ 46 $ - $ - U.S. Government Obligations 39 - 39 - Corporate and Other Obligations 547 - 547 - Common Stock 552 552 - - Preferred Stock 4 4 - - Interest in Registered Investment Companies (1) 150 150 - - Interest in Limited Partnerships and Limited Liability Companies 163 - - 163 Total investments at fair value $ 1,501 $ 752 $ 586 $ 163 Common/Collective Trusts (1) 1,177 Interest in Registered Investment Companies (1) 87 Interest and Dividend Receivable 6 Due from Broker for Securities Sold 61 Receivable Associated with Insurance Contract 7 Due to Broker for Securities Purchased (109 ) Total Plan Assets, at Fair Value $ 2,730 Fair Value Measurements at December 31, 2018 ( $ in millions Total Level 1 Level 2 Level 3 Cash and Cash Equivalents $ 36 $ 36 $ - $ - U.S. Government Obligations 46 - 46 - Corporate and Other Obligations 425 - 425 - Common Stock 420 420 - - Interest in Registered Investment Companies (1) 262 262 - - Interest in Limited Partnerships and Limited Liability Companies 155 - - 155 Total investments at fair value $ 1,344 $ 718 $ 471 $ 155 Common/Collective Trusts (1) 1,031 Interest and Dividend Receivable 6 Due from Broker for Securities Sold 20 Receivable Associated with Insurance Contract 7 Due to Broker for Securities Purchased (60 ) Total Plan Assets, at Fair Value $ 2,348 (1) Investments that are measured at fair value using the net asset value (“NAV”) practical expedient have not been classified in the fair value hierarchy. The fair value of common/collective trusts are estimated using the using the NAV per share multiplied by the number of shares of the trust investment held as of the measurement date. Additionally, the fair value of certain assets totaling $87 million and $131 million, as of December 31, 2019 and 2018, respectively, included in “Interest in Registered Investment Companies” were estimated using the NAV practical expedient. These balances are intended to permit reconciliation of the fair value hierarchy to the plan asset amounts presented in Note 20 - Retirement Plans. There have been no reclassifications of investments between Levels 1, 2 or 3 assets during the years ended December 31, 2019 or 2018. The tables below set forth a summary of changes in the fair value of the Plan’s Level 3 assets for the years ended December 31, 2019 and 2018: Interest in Limited Partnerships and Limited Liability Companies ( $ in millions 2019 2018 Balance at beginning of year $ 155 $ 115 Realized gains 14 11 Unrealized gains (losses) 8 3 Purchases - 37 Sales and distributions (14 ) (11 ) Balance at end of year $ 163 $ 155 The following table provides further information regarding the redemption of the Plan’s Level 3 investments as well as information related to significant unobservable inputs and the range of values for those inputs for the Plan’s interest in certain limited partnerships and limited liability companies as of December 31, 2019: ( $ in millions Fair Value Liquidation Period Capitalization Rate Interest in Limited Partnerships and Limited Liability Companies (4) MS IFHF SVP LP Cayman (1) $ 1 5 years N/A RII World Timberfund, LLC (2) 5 2 years N/A 426 E. Casino Road, LLC (3) 16 N/A 7.00 % 100 Comm Drive, LLC (3) 10 N/A 7.75 % 100 CTE Drive, LLC (3) 11 N/A 9.5% - 10.0 % 6430 Oakbrook Parkway, LLC (3) 27 N/A 7.75 % 8001 West Jefferson, LLC (3) 28 N/A 8.75 % 1500 MacCorkle Ave SE, LLC (3) 15 N/A 8.50 % 400 S. Pike Road West, LLC (3) 1 N/A 8.50 % 601 N. US 131, LLC (3) 1 N/A 9.50 % 9260 E. Stockton Blvd., LLC (3) 6 N/A 7.25 % 120 E. Lime Street, LLC (3) 9 N/A 9.00 % 610 N. Morgan Street, LLC (3) 33 N/A 8.50 % Total Interest in Limited Partnerships and Limited Liability Companies $ 163 (1) The partnerships’ investment objective is to seek capital appreciation principally through investing in investment funds managed by third party investment managers who employ a variety of alternative investment strategies. These instruments are subject to certain withdrawal restrictions. The Plan is in the process of liquidating its interest in the partnerships and distributions are expected to be made over the next five years. (2) The fund’s objective is to realize substantial long-term capital appreciation by investing in timberland properties primarily in South America and Australia. This investment is subject to certain withdrawal restrictions. In 2019, the fund entered into liquidation period of the partnerships and distributions are expected to be made over the next two years. (3) The entity invests in commercial real estate properties that are leased to Frontier. The leases are triple net, whereby Frontier is responsible for all expenses, including but not limited to, insurance, repairs and maintenance and payment of property taxes. (4) All Level 3 investments have the same redemption frequency (through the liquidation of underlying investments) and redemption notice period (none). The fair value of these properties is based on independent appraisals. The following table summarizes the carrying amounts and estimated fair values for long-term debt at December 31, 2019 and 2018. For the other financial instruments including cash, accounts receivable, restricted cash, long-term debt due within one year, accounts payable and other current liabilities, the carrying amounts approximate fair value due to the relatively short maturities of those instruments. 2019 2018 ($ in millions) Carrying Amount Fair Value Carrying Amount Fair Value Total debt $ 17,516 $ 12,026 $ 17,400 $ 12,756 The fair value of our long-term debt is estimated based upon quoted market prices at the reporting date for those financial instruments. |
Commitments And Contingencies
Commitments And Contingencies | 12 Months Ended |
Dec. 31, 2019 | |
Commitments And Contingencies [Abstract] | |
Commitments And Contingencies | (22) Commitments and Contingencies Although from time to time we make short-term purchasing commitments to vendors with respect to capital expenditures, we generally do not enter into firm, written contracts for such activities. In 2015, Frontier accepted the FCC’s CAF Phase II offer in 29 states, which provides $332 million in annual support through 2020 (since extended to 2021 under the Rural Digital Opportunity Fund (RDOF)) in return for the Company’s commitment to make broadband available to approximately 774,000 locations within Frontier’s footprint. This amount includes approximately $19 million in the four states of the Northwest Operations. The CAF Phase II program is intended to provide long-term support for carriers for establishing and providing broadband service with at least 10 Mbps downstream/1 Mbps upstream speeds in high-cost unserved or underserved areas. CAF Phase II support is a successor to the approximately $198 million in annual USF frozen high-cost support that Frontier used to receive prior to CAF II. In addition to the annual support levels, these amounts also include frozen support phasedown amounts in states where the annual CAF II funding is less than the prior annual frozen high-cost support funding. Phasedown funding provided to Frontier was complete as of December 31, 2018. In August 2019, the FCC adopted a notice of proposed rulemaking to establish the RDOF, which will be the successor to the CAF II program. While the RDOF has not been finalized, its final form could result in a material change in the level of annual funding that Frontier receives from the FCC under CAF II as early as 2022. On April 20, 2017, the FCC issued an Order that significantly altered how Commercial Data Services are regulated. Specifically, the Order adopted a test to determine, on a county-by-county basis, whether price cap ILECs, like Frontier’s DS1 and DS3 services, will continue to be regulated. The test resulted in deregulation in a substantial number of our markets and is allowing Frontier to offer its DS1 and DS3 services in a manner that better responds to the competitive marketplace and allows for commercial negotiation. The areas that remain regulated may be subject to price fluctuations depending upon the price cap formula that year. Multiple parties appealed the Order in the 8th Circuit Court of Appeals. The Court of Appeals issued a ruling August 28, 2018, which upheld the vast majority of the FCC’s decision easing regulation of business data services of internet service providers and vacated and remanded one part of the Order back to the FCC. On October 10, 2018, the FCC filed a Motion to Stay the Court’s Decision. Frontier cannot predict the extent to which these regulatory changes could affect revenues at this time. On April 30, 2018, an amended consolidated class action complaint was filed in the United States District Court for the District of Connecticut on behalf of certain purported stockholders against Frontier, certain of its current and former directors and officers and the underwriters of certain Frontier securities offerings. The complaint was brought on behalf of all persons who (1) acquired Frontier common stock between February 6, 2015 and February 28, 2018, inclusive, and/or (2) acquired Frontier common stock or Mandatory Convertible Preferred Stock either in or traceable to Frontier’s offerings of common and preferred stock conducted on or about June 2, 2015 and June 8, 2015. The complaint asserted, among other things, violations of Section 10(b) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and In February 2020, we settled for an immaterial amount an intellectual property lawsuit initiated by Sprint Communications which alleged that the VoIP services that we offer to our customers infringe on certain of the plaintiff’s patents. In addition, we are party to various legal proceedings (including individual actions, class and putative class actions, and governmental investigations) arising in the normal course of our business covering a wide range of matters and types of claims including, but not limited to, general contract disputes, billing disputes, rights of access, taxes and surcharges, consumer protection, advertising, sales and the provision of services, trademark and patent infringement, employment, regulatory, tort, claims of competitors and disputes with other carriers. Litigation is subject to uncertainty and the outcome of individual matters is not predictable. However, we believe that the ultimate resolution of all such matters, after considering insurance coverage or other indemnities to which we are entitled, will not have a material adverse effect on our financial position, results of operations, or cash flows. In October 2013, the California Attorney General’s Office notified certain Verizon companies, including one of the subsidiaries that we acquired in the CTF Acquisition, of potential violations of California state hazardous waste statutes primarily arising from the disposal of electronic components, batteries and aerosol cans at certain California facilities. We are cooperating with this investigation. We have accrued an amount for potential penalties that we deem to be probable and reasonably estimated, and we do not expect that any potential penalties, if ultimately incurred, will be material in comparison to the established accrual. We accrue an expense for pending litigation when we determine that an unfavorable outcome is probable, and the amount of the loss can be reasonably estimated. Legal defense costs are expensed as incurred. None of our existing accruals for pending matters, after considering insurance coverage, is material. We monitor our pending litigation for the purpose of adjusting our accruals and revising our disclosures accordingly, when required. Litigation is, however, subject to uncertainty, and the outcome of any particular matter is not predictable. We will vigorously defend our interests in pending litigation, and as of this date, we believe that the ultimate resolution of all such matters, after considering insurance coverage or other indemnities to which we are entitled, will not have a material adverse effect on our consolidated financial position, results of operations, or our cash flows. We conduct certain of our operations in leased premises and also lease certain equipment and other assets pursuant to operating leases. The lease arrangements have terms ranging from 1 to 99 years and several contain rent escalation clauses providing for increases in monthly rent at specific intervals. When rent escalation clauses exist, we record annual rental expense based on the total expected rent payments on a straight-line basis over the lease term. Certain leases also have renewal options. Renewal options that are reasonably assured are included in determining the lease term. We are party to contracts with several unrelated long-distance carriers. The contracts provide fees based on traffic they carry for us subject to minimum monthly fees. At December 31, 2019, the estimated future payments for obligations under our noncancelable long-distance contracts and joint pole and communications service agreements are as follows: ($ in millions) Amount Year ending December 31: 2020 $ 79 2021 34 2022 15 2023 6 2024 4 Thereafter 6 Total $ 144 At December 31, 2019, we have outstanding performance letters of credit as follows: ($ in millions) Amount CNA Financial Corporation (CNA) $ 49 AIG Insurance 28 Zurich 73 All other 1 Total $ 151 CNA serves as our insurance carrier with respect to casualty claims (auto liability, general liability and workers’ compensation) with dates of loss prior to June 1, 2017 (except for those claims which arise out of the operations acquired from CTF that have dates of loss prior to April 1, 2016). As our insurance carrier, they administer the casualty claims and make claim payments on our behalf. We reimburse CNA for such services upon presentation of their invoice. To serve as our carrier and make payments on our behalf, CNA requires that we establish a letter of credit in their favor. CNA could potentially draw against this letter of credit if we failed to reimburse CNA in accordance with the terms of our agreement. The amount of the letter of credit is reviewed annually and adjusted based on claims history. Zurich serves as our insurance carrier with respect to casualty claims (auto liability, general liability and workers’ compensation) with dates of loss from June 1, 2017 and going forward. As our insurance carrier, they administer the casualty claims and make claim payments on our behalf. We reimburse Zurich for such services upon presentation of their invoice. To serve as our carrier and make payments on our behalf, Zurich requires that we establish a letter of credit in their favor. Zurich could potentially draw against this letter of credit if we failed to reimburse Zurich in accordance with the terms of our agreement. The amount of the letter of credit is reviewed annually and adjusted based on claims history. AIG Insurance serves as our insurance carrier with respect to casualty claims (auto liability, general liability and workers’ compensation) that were acquired from CTF, as well as new claims which arise out of the operations acquired from CTF that have dates of loss prior to April 1, 2016. Sedgwick, a third-party claims administrator, administers the casualty claims and makes claim payments on our behalf. We reimburse Sedgwick for such services upon presentation of their invoice. However, to serve as our insurance carrier, AIG Insurance requires that we establish a letter of credit in their favor. AIG Insurance could potentially draw against this letter of credit if we failed to meet the insurance-related and claims-related obligations we assumed in accordance with the terms of our agreement. The amount of the letter of credit is reviewed annually and adjusted based on claims history. |
Subsequent Events
Subsequent Events | 12 Months Ended |
Dec. 31, 2019 | |
Subsequent Events [Abstract] | |
Subsequent Events | (23) Subsequent Events Restructuring The Company engaged in discussions with the Unsecured Noteholders with respect to potential deleveraging or restructuring transactions from January 2020 until the expiration of such agreements and corresponding release of certain confidential information on March 27, 2020. These discussions have included negotiations of the terms and conditions of the Restructuring of the existing debt of, existing equity interests in, and certain other obligations of the Company Parties. The Restructuring is currently expected to be effected pursuant to a Plan to be filed in Chapter 11 Cases under the Bankruptcy Code. Although the Company continues to be open to all discussions with the Unsecured Noteholders regarding a potential Restructuring, there can be no assurance we will reach an agreement with the Unsecured Noteholders in a timely manner, on terms that are attractive to us, or at all. The Company expects to continue to provide quality service to its customers without interruption and work with its business partners as usual during the course of these discussions and any potential transaction. Deferral of Interest Payment to Holders of Certain Senior Unsecured Notes As of December 31, 2019, the Company had outstanding $55 million aggregate principal amount of 8.875% notes due 2020 2022 2025 2021 On March 16, 2020, we deferred making $322 million in scheduled interest payments due on the deferred payment senior notes and a 60-day grace period commenced under the indentures governing the deferred payment senior notes. We elected to enter into the grace period in order to collaborate with certain Unsecured Noteholders regarding the Restructuring. If we do not make these interest payments by May 15, 2020 or if we do not make any required principal payments required under the indentures governing our notes, an event of default would occur under the applicable indentures, which would give the trustee or the holders of at least 25% of principal amount the option to accelerate maturity of the principal, plus any accrued and unpaid interest on such notes making them due and payable immediately. The Company has also elected to defer making scheduled interest payments due on April 1, 2020 with respect to certain of its debentures. Noncompliance with Nasdaq’s Minimum Bid Price Requirement On December 16, 2019, the Company was notified by The Nasdaq Stock Market (Nasdaq) that it was not in compliance with Nasdaq’s Listing Rule 5450(a)(1), as the minimum bid price of our common stock had been below $1.00 per share for 30 consecutive business days. Under Nasdaq’s rules, the notification of noncompliance had no immediate effect on the listing or trading of Frontier’s common stock on the Nasdaq Global Select Market under the symbol “FTR”. Under Nasdaq’s rules, we were given 180 days, or until June 15, 2020, to achieve compliance with the minimum bid price requirement. To regain compliance, the minimum bid price of Frontier’s common stock must meet or exceed $1.00 per share for a minimum of ten COVID-19 Pandemic In December 2019, a novel strain of coronavirus, COVID-19, was reported in Wuhan, China. The World Health Organization has declared COVID-19 a pandemic and public health emergency of international concern. In March 2020, the President of the United States declared a State of National Emergency due to the COVID-19 outbreak. Many jurisdictions, particularly in North America (including the United States), Asia and Europe and several states in which we operate, including California, New York, Connecticut and others, have adopted or are considering laws, rules, regulations or decrees intended to address the COVID-19 outbreak, including implementing travel restrictions, closing non-essential businesses and/or restricting daily activities. In addition, many communities have limited, and are considering to further limit, social mobility and gathering. As the COVID-19 pandemic develops, governments, corporations and other authorities may continue to implement restrictions or policies that adversely impact consumer spending, the economy and our business, operations and stock price. Given the unprecedented and evolving nature of the pandemic, the impact of these changes and potential changes on the Company are unknown at this time. For information on the FFCR Act and the CARES Act, refer to Note 15. |
Description Of Business And S_2
Description Of Business And Summary Of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2019 | |
Description Of Business And Summary Of Significant Accounting Policies [Abstract] | |
Description Of Business | (a) Description of Business Frontier Communications Corporation (Frontier) is a provider of communications services in the United States, with approximately 4.1 million customers, 3.5 million broadband subscribers and 18,300 employees, operating in 29 states. Frontier was incorporated in 1935, originally under the name of Citizens Utilities Company and was known as Citizens Communications Company until July 31, 2008. Frontier and its subsidiaries are referred to as “we,” “us,” “our,” “Frontier,” or the “Company” in this report. |
Basis Of Presentation And Use Of Estimates | (b) Basis of Presentation and Use of Estimates Our consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (GAAP). Certain reclassifications of amounts previously reported have been made to conform to the current presentation. All significant intercompany balances and transactions have been eliminated in consolidation. For our financial statements as of and for the period ended December 31, 2019, we evaluated subsequent events and transactions for potential recognition or disclosure through the date that we filed this Form 10-K with the Securities and Exchange Commission (SEC). The preparation of our financial statements in conformity with GAAP requires management to make estimates and assumptions that affect (i) the reported amounts of assets and liabilities at the date of the financial statements, (ii) the disclosure of contingent assets and liabilities, and (iii) the reported amounts of revenue and expenses during the reporting period. Actual results may differ from those estimates. Estimates and judgments are used when accounting for the allowance for doubtful accounts, asset impairments, indefinite-lived intangibles, depreciation and amortization, income taxes, business combinations, and pension and other postretirement benefits, among others. On July 10, 2017, we effected a one for fifteen |
Going Concern | (c) Going Concern Our consolidated financial statements have been prepared assuming that we will continue as a going concern, which contemplates continuity of operations, realization of assets, and satisfaction of liabilities in the normal course of business. In connection with the preparation of our consolidated financial statements, we conducted an evaluation as to whether there were conditions and events, considered in the aggregate, which raised substantial doubt as to the entity’s ability to continue as a going concern within one year after the date of the issuance of our consolidated financial statements. As reflected in our consolidated financial statements, the Company had cash and cash equivalents of $760 million and an accumulated deficit of $8,573 million as of December 31, 2019. The Company also had an operating loss of $4,873 million and a net loss of $5,911 million for the year ended December 31, 2019. The Company engaged in discussions with certain holders of the Company’s unsecured notes that executed confidentiality agreements with the Company (the Unsecured Noteholders) with respect to potential deleveraging or restructuring transactions from January 2020 until the expiration of such agreements and corresponding release of certain confidential information on March 27, 2020. These discussions have included negotiations of the terms and conditions of a financial restructuring (the Restructuring) of the existing debt of, existing equity interests in, and certain other obligations of the Company and certain of its direct and indirect subsidiaries (the Company Parties). The Restructuring is currently expected to be effected pursuant to a plan of reorganization (Plan) to be filed in cases commenced under chapter 11 (Chapter 11 Cases) of the United States Bankruptcy Code (the Bankruptcy Code). Although the Company continues to be open to all discussions with the Unsecured Noteholders regarding a potential Restructuring, there can be no assurance we will reach an agreement with the Unsecured Noteholders in a timely manner, on terms that are attractive to us, or at all. Furthermore, on March 16, 2020, we deferred making $322 million in scheduled interest payments due on certain of our senior notes and a 60-day grace period commenced under the indentures governing those notes. We elected to enter into the grace period in order to collaborate with certain Unsecured Noteholders regarding the Restructuring. If we do not make these interest payments by May 15, 2020 or if we do not make any required principal payments required under the indentures governing our notes, an event of default would occur under the applicable indentures, which would give the trustee or the holders of at least 25% of principal amount the option to accelerate maturity of the principal, plus any accrued and unpaid interest on such notes. The Company has also elected to defer making scheduled interest payments due on April 1, 2020 with respect to certain of its debentures. The Company evaluated the impact of undertaking the Restructuring and the payment deferral described above on its ability to continue as a going concern. As a result of risks and uncertainties related to (i) the Company’s ability to obtain requisite support for the Restructuring from various stakeholders, (ii) the effects of disruption from the Restructuring making it more difficult to maintain business, (iii) financing and operational relationships and (iv) the limited liquidity to pay the principal balance of the deferred payment senior notes and debentures upon an event of default, together with the Company’s recurring losses from operations and accumulated deficit, substantial doubt exists regarding our ability to continue as a going concern. Our consolidated financial statements do not include any adjustments related to the recoverability and classification of recorded asset amounts or the amounts and classification of liabilities that might be necessary should we be unable to continue as a going concern. |
Cash Equivalents | (d) Cash Equivalents We consider all highly liquid investments with an original maturity of three months or less to be cash equivalents. Restricted cash of $50 million is included within “other assets” on our consolidated balance sheet as of December 31, 2019. These amounts represent funds held as collateral by certain insurance carriers. |
Revenue Recognition | (e) Revenue Recognition Revenue for data & Internet services, voice services, video services and switched and non-switched access services is recognized as the service is provided. Services that are billed in advance include monthly recurring network access services (including data services), special access services, and monthly recurring voice, video, and related charges. The unearned portion of these fees is initially deferred as a component of “Advanced billings” on our consolidated balance sheet and recognized as revenue over the period that the services are provided. Services that are billed in arrears include non-recurring network access services (including data services), switched access services, and non-recurring voice and video services. The earned but unbilled portion of these fees is recognized as revenue in our consolidated statements of operations and accrued in “Accounts receivable” on our consolidated balance sheet in the period that services are provided. Excise taxes are recognized as a liability when billed. Satisfaction of Performance Obligations Frontier satisfies its obligations to customers by transferring goods and services in exchange for consideration received from the customer. The timing of Frontier’s satisfaction of the performance obligation often differs from the timing of the customer’s payment, which results in the recognition of a contract asset or a contract liability. Frontier recognizes a contract asset or liability when the Company transfers goods or services to a customer and bills an amount which differs from the revenue allocated to the related performance obligations. Bundled Service and Allocation of Discounts When customers purchase more than one service, the revenue allocable to each service is determined based upon the relative stand-alone selling price of each service received. We frequently offer service discounts as an incentive to customers. Service discounts reduce the total transaction price allocated to the performance obligations that are satisfied over the term of the customer contract. We may also offer incentives which are considered cash equivalents (e.g. Visa gift cards) that similarly result in a reduction of the total transaction price as well as lower revenue over the term of the contract. A contract asset is often created during the beginning of the contract term when the term of the incentive is shorter than the contract term. These contract assets are realized over the term of the contract as our performance obligations are satisfied and customer consideration is received. Customer Incentives In the process of acquiring and/or retaining customers, we may issue a variety of other incentives aside from service discounts or cash equivalent incentives. Those incentives that have stand-alone value (e.g. gift cards not considered cash equivalents or free goods/services) are considered a separate performance obligation. As a result, while these incentives are free to the customer, a portion of the consideration received from the customer over the contract term is ascribed to them based upon their relative stand-alone selling price. The revenue, reflected in “Other” revenue, and costs, reflected in “Network access expenses”, for these incentives are recognized when they are delivered to the customer and the performance obligation is satisfied. Similar to discounts, these types of incentives generally result in the creation of a contract asset during the beginning of the contract term which is recorded in Other current assets and Other assets on our consolidated balance sheet. Upfront Fees All non-refundable upfront fees provide our customers with a material right to renew, and therefore, are deferred and amortized into revenue over the expected period for which related services are provided. With upfront fees assessed at the beginning of a contract, a contract liability is often created, which is reduced over the term of the contract as the performance obligations are satisfied. The contract liabilities are recorded in Other current liabilities and Other liabilities on our consolidated balance sheet. Contributions in Aid of Construction (CIAC) It is customary for us to charge customers for certain construction activities. These activities are requested by the customer and construction charges are assessed at the beginning of a contract. When charges are incurred, a contract liability is often created, which is reduced over the term of the contract as performance obligations are satisfied. The contract liabilities are recorded in Other current liabilities and Other liabilities on our consolidated balance sheet. Contract Acquisition Costs Certain costs to acquire customers are deferred and amortized over the expected customer life (average of 4.0 years). For Frontier, this includes certain commissions paid to acquire new customers. Commissions attributable to new customer contracts are deferred and amortized into expense. Unamortized deferred commissions are recorded in Contract acquisition costs and Other assets on our consolidated balance sheet. Surcharges and Subsidies Frontier collects various taxes from its customers and subsequently remits these taxes to governmental authorities. Substantially all of these taxes are recorded through the consolidated balance sheet and presented on a net basis in our consolidated statements of operations. We also collect Universal Service Fund (USF) surcharges from customers (primarily federal USF), of $221 million, $213 million, and $216 million for the years ended December 31, 2019, 2018 and 2017, respectively, and video franchise fees of $40 million, $47 million, and $52 million for the years ended December 31, 2019, 2018, and 2016, respectively, that we have recorded on a gross basis in our consolidated statements of operations and included within “Revenue” and “Network related expenses. In 2015, we accepted the FCC’s Connect America Fund (CAF) Phase II offer of support, which is a successor to and augments the USF frozen high cost support that we had been receiving pursuant to a 2011 FCC order. Upon completion of the CTF Acquisition, Frontier assumed the CAF Phase II support and related obligations that Verizon had previously accepted with regard to California and Texas. We are recognizing these subsidies into revenue on a straight-line basis. |
Property, Plant And Equipment | (f) Property, Plant and Equipment Property, plant and equipment are stated at original cost, including capitalized interest, or fair market value as of the date of acquisition for acquired properties. Maintenance and repairs are charged to operating expenses as incurred. The gross book value of routine property, plant and equipment retirements is charged against accumulated depreciation. |
Goodwill And Other Intangibles | (g) Goodwill and Other Intangibles Goodwill represents the excess of purchase price over the fair value of identifiable tangible and intangible net assets acquired. We undertake studies to determine the fair values of assets and liabilities acquired and allocate purchase prices to assets and liabilities, including property, plant and equipment, goodwill and other identifiable intangibles. We examine the carrying value of our goodwill and trade name annually as of December 31, or more frequently, as circumstances warrant, to determine whether there are any impairment losses. We test for goodwill impairment at the “reporting unit” level, as that term is defined in GAAP. We have two reporting units (following the announcement of the sale of the Northwest Operations) that aggregate to one operating segment, based on a number of factors that our management uses to evaluate and run our business operations, including similarities of customers, products and technology. We tested goodwill for impairment as of September 30, 2019 as a result of the continued decline in share price of our common stock since December 31, 2018, the date of our last annual goodwill impairment test. As of September 30, 2019, goodwill was fully impaired. No further impairment testing is required as of December 31, 2019. Refer to Note 8 for a discussion of our goodwill impairment testing and results as of December 31, 2019. Frontier amortizes its customer list and certain other finite-lived intangible assets over their estimated useful lives on the accelerated method of sum of the years digits and its royalty agreement over its estimated useful life on the straight-line method. We review such intangible assets at least annually as of December 31 to assess whether any potential impairment exists and whether factors exist that would necessitate a change in useful life and a different amortization period. |
Impairment Of Long-Lived Assets And Long-Lived Assets To Be Disposed Of | (h) Impairment of Long-Lived Assets and Long-Lived Assets to Be Disposed Of We review long-lived assets to be held and used, including customer lists and property, plant and equipment, and long-lived assets to be disposed of for impairment whenever events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. Recoverability of assets to be held and used is measured by comparing the carrying amount of the asset to the future undiscounted net cash flows expected to be generated by the asset. Recoverability of assets held for sale is measured by comparing the carrying amount of the assets to their estimated fair market value. If any assets are considered to be impaired, the impairment is measured by the amount by which the carrying amount of the assets exceeds the estimated fair value. Also, we periodically reassess the useful lives of our long-lived assets to determine whether any changes are required. |
Income Taxes And Deferred Income Taxes | (i) Income Taxes and Deferred Income Taxes We file a consolidated federal income tax return. We utilize the asset and liability method of accounting for income taxes. Under the asset and liability method, deferred income taxes are recorded for the tax effect of temporary differences between the financial statement basis and the tax basis of assets and liabilities using tax rates expected to be in effect when the temporary differences are expected to reverse. We recognize deferred tax assets to the extent that we believe that these assets are more likely than not to be realized. In making such a determination, we consider 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 we determine that we are not able to realize a portion of our net deferred tax assets in the future, we would make an adjustment to the deferred tax asset valuation allowance, which would increase the provision for income taxes. |
Stock Plans | (j) Stock Plans We have various stock-based compensation plans. Awards under these plans are granted to eligible employees and directors. Awards may be made in the form of incentive stock options, non-qualified stock options, stock appreciation rights, restricted stock, restricted stock units or other stock-based awards, including awards with performance, market and time-vesting conditions. Our general policy is to issue shares from treasury upon the grant of restricted shares, earning of performance shares and the exercise of options. The compensation cost recognized is based on awards ultimately expected to vest. GAAP requires forfeitures to be estimated and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. |
Net Loss Per Share Attributable To Frontier Common Shareholders | (k) Net Loss Per Share Attributable to Frontier Common Shareholders Basic net loss per common share is computed using the weighted average number of common shares outstanding during the period being reported on, excluding unvested restricted stock awards. The impact of dividends paid on unvested restricted stock awards have been deducted in the determination of basic and diluted net income (loss) per share attributable to Frontier common shareholders. Except when the effect would be antidilutive, diluted net income per common share reflects the dilutive effect of certain common stock equivalents, as described further in Note 16 – Net Loss Per Common Share. |
Revenue Recognition (Tables)
Revenue Recognition (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Revenue Recognition [Abstract] | |
Disaggregation Of Revenue | For the year ended December 31, ($ in millions) 2019 2018 2017 (1) Data and Internet services $ 3,756 $ 3,878 $ 3,862 Voice services 2,500 2,721 2,864 Video services 1,005 1,085 1,304 Other 477 544 322 Revenue from contracts with customers 7,738 8,228 8,352 Subsidy and other regulatory revenue 369 383 776 Total revenue $ 8,107 $ 8,611 $ 9,128 For the year ended December 31, ($ in millions) 2019 2018 2017 (1) Consumer $ 4,153 $ 4,380 $ 4,476 Commercial 3,585 3,848 3,876 Revenue from contracts with customers 7,738 8,228 8,352 Subsidy and other regulatory revenue 369 383 776 Total revenue $ 8,107 $ 8,611 $ 9,128 (1) Revenues for the year ended December 31, 2017 have not been adjusted under the modified retrospective method of adoption of ASC 606. |
Summary Of Changes In Deferred Commissions | Contract Acquisition Costs ($ in millions) Current Noncurrent Balance at January 1, 2018 $ 87 $ 117 Commissions deferred 128 10 Commission costs recognized (108 ) - Balance at December 31, 2018 107 127 Commissions deferred 138 6 Commission costs recognized (131 ) - Reclass to assets held for sale (9 ) (12 ) Balance at December 31, 2019 $ 105 $ 121 |
Changes In Contract Assets And Contract Liabilities | Contract Assets Contract Liabilities ($ in millions) Current Noncurrent Current Noncurrent Balance at January 1, 2019 $ 44 $ 25 $ 49 $ 22 Revenue recognized included in opening contract balance (39 ) (12 ) (81 ) (17 ) Cash received, excluding amounts recognized as revenue - - 78 16 Credits granted, excluding amounts recognized as revenue 30 1 - - Reclassified between Current and Noncurrent 5 (5 ) - - Reclassified to held for sale (3 ) (1 ) (5 ) - Balance at December 31, 2019 $ 37 $ 8 $ 41 $ 21 Contract Assets Contract Liabilities ($ in millions) Current Noncurrent Current Noncurrent Balance at January 1, 2018 $ 40 $ 37 $ 41 $ 19 Revenue recognized included in opening contract balance (49 ) (8 ) (106 ) (13 ) Cash received, excluding amounts recognized as revenue - - 129 6 Credits granted, excluding amounts recognized as revenue 49 - - - Reclassified between Current and Noncurrent 4 (4 ) (10 ) 10 Other - - (5 ) - Balance at December 31, 2018 $ 44 $ 25 $ 49 $ 22 |
Performance Obligations, Revenue | ($ in millions) Revenue from remaining performance obligations 2020 $ 2,163 2021 957 2022 431 2023 200 2024 107 Thereafter 160 Total $ 4,018 (1) (1) Future performance obligations include $ 289 million related to our Northwest Operations |
Accounts Receivable (Tables)
Accounts Receivable (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Accounts Receivable [Abstract] | |
Accounts Receivable | ($ in millions) 2019 2018 Retail and Wholesale $ 678 $ 745 Other 71 83 Less: Allowance for doubtful accounts (120 ) (105 ) Accounts receivable, net $ 629 $ 723 |
Schedule Of Allowance For Doubtful Accounts | ( $ in millions Balance at beginning of the Period ASC 606 Transition Adjustment Increases: Charged to Revenue Decreases: Write-offs and Customer Credits Reclassified to Assets Held for Sale Balance at end of the Period 2017 $ 131 $ - $ 87 $ (149 ) $ - $ 69 2018 $ 69 $ 32 $ 93 $ (89 ) $ - $ 105 2019 $ 105 $ - $ 109 $ (83 ) $ (11 ) $ 120 |
Property, Plant And Equipment (
Property, Plant And Equipment (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Property, Plant And Equipment [Abstract] | |
Property, Plant And Equipment, Net | ($ in millions) Estimated Useful Lives 2019 2018 Land N/A $ 217 $ 230 Buildings and leasehold improvements 40 years 2,171 2,302 General support 5 to 15 years 1,624 1,616 Central office/electronic circuit equipment 5 to 8 years 7,968 8,447 Poles 30 years 1,274 1,211 Cable, fiber and wire 15 to 25 years 11,312 11,743 Conduit 50 years 1,608 1,672 Construction work in progress 378 436 Property, plant and equipment 26,552 27,657 Less: Accumulated depreciation (13,589 ) (13,470 ) Property, plant and equipment, net $ 12,963 $ 14,187 |
Schedule Of Depreciation Expense | For the year ended December 31, ($ in millions) 2019 2018 2017 Depreciation expense $ 1,335 $ 1,385 $ 1,485 |
Planned Divestiture Of Northw_2
Planned Divestiture Of Northwest Operations (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Planned Divestiture Of Northwest Operations [Abstract] | |
Components Of Held-For-Sale Assets And Liabilities | ($ in millions) December 31, 2019 ASSETS Accounts receivable, less allowances of $11 $ 46 Prepaid expenses 1 Contract acquisition costs 9 Other current assets 3 Property, plant and equipment, net 1,049 Goodwill (1) 658 Other intangibles, net 30 Other assets 26 Valuation allowance on assets held for sale (421 ) Total assets held for sale $ 1,401 LIABILITIES Accounts payable $ 12 Advanced billings 18 Accrued other taxes 6 Other current liabilities 18 Pension and other postretirement benefits (2) 29 Other liabilities 40 Total liabilities held for sale $ 123 (1) The assignment of goodwill was based on the relative fair value of the disposal group and the portion of the remaining reporting unit. (2) Excludes pension liability of $163 million, which will be fully funded upon closing. Approximately $98 million, or 60% of the pension liability will be funded through the transfer of pension plan assets. The remaining liability will be separately funded by Frontier at the time of closing. |
Goodwill And Other Intangibles
Goodwill And Other Intangibles (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Goodwill And Other Intangibles [Abstract] | |
Schedule Of Goodwill Activity | ($ in millions) Goodwill, net Balance at January 1, 2018 $ 7,024 Goodwill Impairment (641 ) Balance at December 31, 2018 6,383 Reclassified as held for sale (1) (658 ) Goodwill impairment (5,725 ) Balance at December 31, 2019 $ - (1) Represents the amounts reclassified as held-for-sale related to the Company’s Northwest Operations (see Note 7). |
Components Of Other Intangibles | 2019 2018 ($ in millions) Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Other Intangibles: Customer base $ 4,332 $ (3,452 ) $ 880 $ 5,188 $ (3,848 ) $ 1,340 Trade name 122 - 122 122 - 122 Royalty agreement 72 (54 ) 18 72 (40 ) 32 Total other intangibles $ 4,526 $ (3,506 ) $ 1,020 $ 5,382 $ (3,888 ) $ 1,494 |
Schedule Of Amortization Expense | For the year ended December 31, ($ in millions) 2019 2018 2017 Amortization expense $ 445 $ 569 $ 699 |
Long-Term Debt (Tables)
Long-Term Debt (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Long-Term Debt [Abstract] | |
Long-Term Debt | For the year ended December 31, 2019 ($ in millions) January 1, 2019 Payments and Retirements New Borrowings December 31, 2019 Interest Rate at December 31, 2019* Secured debt issued by Frontier $ 5,246 $ (2,134 ) $ 2,599 $ 5,711 7.24 % Unsecured debt issued by Frontier 11,297 (348 ) - 10,949 9.62 % Secured debt issued by subsidiaries 107 (1 ) - 106 8.36 % Unsecured debt issued by subsidiaries 750 - - 750 6.90 % Total debt $ 17,400 $ (2,483 ) $ 2,599 $ 17,516 8.72 % Less: Debt Issuance Costs (178 ) (168 ) Less: Debt Premium/(Discount) (50 ) (46 ) Less: Current Portion (814 ) (994 ) $ 16,358 $ 16,308 * Interest rate includes amortization of debt issuance costs and debt premiums or discounts. The interest rates at December 31, 2019 represent a weighted average of multiple issuances. |
Schedule Of Unsecured Debt | December 31, 2019 December 31, 2018 ($ in millions) Principal Outstanding Interest Rate Principal Outstanding Interest Rate Secured debt issued by Frontier Term loan due 3/31/2021 (1) $ - $ 1,402 5.280% (Variable) Term loan due 10/12/2021 (2) - 239 7.405% (Variable) Revolver due 2/27/2024 (3) 749 4.760% (Variable) 275 5.280% (Variable) Term loan due 6/15/2024 (4) 1,699 5.550% (Variable) 1,716 6.280% (Variable) First lien notes due 4/1/2027 1,650 8.000 % - Second lien notes due 4/1/2026 1,600 8.500 % 1,600 8.500 % IDRB due 5/1/2030 13 6.200 % 13 6.200 % Equipment financings - 1 0.000 % Total secured debt issued by Frontier 5,711 5,246 Unsecured debt issued by Frontier Senior notes due 3/15/2019 - 348 7.125 % Senior notes due 4/15/2020 172 8.500 % 172 8.500 % Senior notes due 9/15/2020 55 8.875 % 55 8.875 % Senior notes due 7/1/2021 89 9.250 % 89 9.250 % Senior notes due 9/15/2021 220 6.250 % 220 6.250 % Senior notes due 4/15/2022 500 8.750 % 500 8.750 % Senior notes due 9/15/2022 2,188 10.500 % 2,188 10.500 % Senior notes due 1/15/2023 850 7.125 % 850 7.125 % Senior notes due 4/15/2024 750 7.625 % 750 7.625 % Senior notes due 1/15/2025 775 6.875 % 775 6.875 % Senior notes due 9/15/2025 3,600 11.000 % 3,600 11.000 % Debentures due 11/1/2025 138 7.000 % 138 7.000 % Debentures due 8/15/2026 2 6.800 % 2 6.800 % Senior notes due 1/15/2027 346 7.875 % 346 7.875 % Senior notes due 8/15/2031 945 9.000 % 945 9.000 % Debentures due 10/1/2034 1 7.680 % 1 7.680 % Debentures due 7/1/2035 125 7.450 % 125 7.450 % Debentures due 10/1/2046 193 7.050 % 193 7.050 % Total unsecured debt issued by Frontier 10,949 11,297 Secured debt issued by subsidiaries Debentures due 11/15/2031 100 8.500 % 100 8.500 % RUS loan contracts due 1/3/2028 6 6.154 % 7 6.154 % Total secured debt issued by subsidiaries 106 107 Unsecured debt issued by subsidiaries Debentures due 5/15/2027 200 6.750 % 200 6.750 % Debentures due 2/1/2028 300 6.860 % 300 6.860 % Debentures due 2/15/2028 200 6.730 % 200 6.730 % Debentures due 10/15/2029 50 8.400 % 50 8.400 % Total unsecured debt issued by subsidiaries 750 750 Total debt $ 17,516 8.486 % (5) $ 17,400 8.411 % (5) (1) Represents borrowings under the JPM Credit Agreement Term Loan A, as defined below. (2) Represents borrowings under the 2016 CoBank Credit Agreement, as defined below. (3) Represents borrowings under the JPM Credit Agreement Revolver, as defined below. (4) Represents borrowings under the JPM Credit Agreement Term Loan B, as defined below. (5) Interest rate represents a weighted average of the stated interest rates of multiple issuances |
Debt Maturities By Year | ($ in millions) Principal Payments 2020 $ 245 2021 $ 327 2022 $ 2,706 2023 $ 868 2024 $ 2,380 Thereafter $ 10,241 |
Restructuring And Other Charg_2
Restructuring And Other Charges (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Restructuring And Other Charges [Abstract] | |
Changes In Restructuring Reserve | ($ in millions) Restructuring Liability Balance at December 31, 2017 $ 25 Severance costs 12 Transformation initiative costs 23 Cash payments during the period (42 ) Balance at December 31, 2018 18 Severance costs 38 Transformation initiative costs 46 Other restructuring costs 40 Cash payments during the period (127 ) Balance at December 31, 2019 $ 15 |
Leases (Tables)
Leases (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Leases [Abstract] | |
Effect Of The Adoption Of ASC 842 | ($ in millions) As Reported December 31, 2018 ASC 842 Transition Adjustment Adjusted January 1, 2019 Assets Other assets $ 265 $ 205 (1) $ 470 Liabilities and Equity (Deficit) Other current liabilities $ 394 $ 32 (2) $ 426 Other liabilities $ 281 $ 158 (3) $ 439 Deferred income taxes $ 1,109 $ 4 (4) $ 1,113 Accumulated deficit $ (2,752 ) $ 11 (5) $ (2,741 ) (1) Includes $205 million of operating Right-of-use (ROU) assets recorded upon adoption. (2) Includes $46 million of operating lease liabilities, partially offset by $14 million recognition of the current portion of deferred gains on sale of property to accumulated deficit. (3) Includes $168 million of operating lease liabilities, partially offset by $1 million recognition of deferred gains on sale of property to accumulated deficit and $9 million of deferred rent reclassified to Operating Right-of-use assets. (4) Represents the tax effect of the recognition of $15 million in deferred gains on sale of property to accumulated deficit. (5) Includes the recognition of $15 million in deferred gains on the sale of property, partially offset by $4 million tax impact on the recognition of the gain. |
Components Of Lease Cost | ( $ in millions For the year ended December 31, 2019 Lease cost: Finance lease cost: Amortization of right-of-use assets $ 19 Interest on lease liabilities 15 Finance lease cost 34 Operating lease cost (1) 79 Sublease income (11 ) Total Lease cost $ 102 (1) Includes short-term lease cost of $3 million and variable lease cost of $6 million for the year ended December 31, 2019, respectively. |
Supplemental Balance Sheet Information Related To Leases | ( $ in millions December 31, 2019 Operating right-of-use assets $ 204 (1) Finance right-of-use assets $ 167 (2) Operating lease liabilities $ 211 (3) Finance lease liabilities $ 167 (4) Operating leases: Weighted-average remaining lease term 7.54 years Weighted-average discount rate 8.25 % Finance leases: Weighted-average remaining lease term 9.10 years Weighted-average discount rate 7.98 % (1) Operating ROU assets are included in Other assets (2) Finance ROU assets are included in Property, plant, and equipment (3) This amount represents $44 million and $167 million included in other current liabilities other liabilities (4) This amount represents $25 million and $142 million included in other current liabilities other liabilities |
Supplemental Cash Flow Information Related To Leases | ( $ in millions For the year ended December 31, 2019 Cash paid for amount included in the measurement of lease liabilities, net of amounts received as revenue: Operating cash flows provided by operating leases $ 70 Operating cash flows used by operating leases $ (76 ) Operating cash flows used by finance leases $ (15 ) Financing cash flows used by finance leases $ (35 ) Right-of-use assets obtained in exchange for lease liabilities: Operating leases $ 42 Finance leases $ 34 |
Maturity Analysis For Operating And Finance Lease Liabilities | ( $ in millions Operating Leases Finance Leases Future maturities: 2020 $ 50 $ 44 2021 45 38 2022 42 33 2023 39 29 2024 34 21 Thereafter 88 102 Total lease payments 298 267 Less: imputed interest (72 ) (72 ) Present value of lease liabilities $ 226 (1) $ 195 (2) (1) Includes $15 million related to our Northwest Operations. (2) Includes $28 million related to our Northwest Operations. |
Maturity Analysis For Operating Leases From Customers | ( $ in millions Operating Lease Payments Future maturities of lease payments from customers: 2020 $ 11 2021 10 2022 10 2023 10 2024 1 Thereafter - Total lease payments from customers $ 42 |
Investment And Other Income, _2
Investment And Other Income, Net (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Investment And Other Income, Net [Abstract] | |
Components Of Investment And Other Income, Net | For the year ended December 31, ( $ in millions 2019 2018 2017 Interest and dividend income $ 9 $ 6 $ 6 Pension and OPEB benefit (costs) (42 ) 10 (2 ) All other, net (4 ) (3 ) (3 ) Total investment and other income (loss), net $ (37 ) $ 13 $ 1 |
Stock Plans (Tables)
Stock Plans (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Stock Plans [Abstract] | |
LTIP Target Performance Shares | Number of Shares (in thousands) Balance at December 31, 2016 190 LTIP target performance shares granted 211 LTIP target performance shares earned (41 ) LTIP target performance shares forfeited (54 ) Balance at December 31, 2017 306 LTIP target performance shares granted 284 LTIP target performance shares earned (18 ) LTIP target performance shares forfeited (75 ) Balance at December 31, 2018 497 LTIP target performance shares/units granted - LTIP target performance shares/units earned (381 ) LTIP target performance shares/units forfeited (20 ) Balance at December 31, 2019 96 |
Restricted Shares Outstanding | Number of Shares Weighted Average Grant Date Fair Value Aggregate Fair Value (in thousands) (per share) (in millions) Balance at December 31, 2016 549 $ 78.00 $ 28 Restricted stock granted 454 $ 47.77 $ 3 Restricted stock vested (240 ) $ 80.86 $ 2 Restricted stock forfeited (130 ) $ 60.92 Balance at December 31, 2017 633 $ 58.63 $ 4 Restricted stock granted 2,023 $ 8.26 $ 5 Restricted stock vested (221 ) $ 66.82 $ (1 ) Restricted stock forfeited (577 ) $ 16.47 Balance at December 31, 2018 1,858 $ 16.02 $ 4 Restricted stock granted 105 $ 2.00 $ - Restricted stock vested (1,039 ) $ 19.05 $ (1 ) Restricted stock forfeited (24 ) $ 28.30 Balance at December 31, 2019 900 $ 10.57 $ 1 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Income Taxes [Abstract] | |
Reconciliation Of Provision For Income Taxes | 2019 2018 2017 Consolidated tax provision at federal statutory rate 21.0 % 21.0 % 35.0 % State income tax provisions, net of federal income tax benefit 2.6 1.6 1.7 Tax reserve adjustment - 0.1 0.1 Changes in certain deferred tax balances (2.3 ) (3.5 ) (0.4 ) Goodwill impairment (11.8 ) (10.4 ) (19.1 ) Share-based payments (0.1 ) (0.5 ) - Federal research and development credit - 0.1 0.1 Deferred Tax Remeasurement - 2017 Tax Reform - 0.6 26.1 All other, net - (0.2 ) (0.1 ) Effective tax rate 9.4 % 8.8 % 43.4 % |
Components Of Net Deferred Income Tax Liability (Asset) | ( $ in millions 2019 2018 Deferred income tax liabilities: Property, plant and equipment basis differences $ 2,184 $ 2,182 Intangibles - 18 Deferred revenue/expense 65 66 Other, net 56 - $ 2,305 $ 2,266 Deferred income tax assets: Pension liability $ 256 $ 209 Intangibles 665 - Tax operating loss carryforward 898 1,027 Employee benefits 184 176 Interest expense deduction limitation carryforward 238 104 Accrued expenses 37 41 Lease obligations 92 33 Tax credit 39 37 Allowance for doubtful accounts 32 26 Other, net 7 1 2,448 1,654 Less: Valuation allowance (605 ) (497 ) Net deferred income tax asset 1,843 1,157 Net deferred income tax liability $ 462 $ 1,109 |
Schedule Of Components Of Income Tax Expense (Benefit) | ( $ in millions 2019 2018 2017 Income tax expense (benefit): Current: Federal $ 1 $ (1 ) (4 ) State 7 6 5 Total Current 8 5 1 Deferred: Federal (606 ) (77 ) (1,312 ) State (13 ) 10 (72 ) Total Deferred (619 ) (67 ) (1,384 ) Total income tax benefit (611 ) (62 ) (1,383 ) Income taxes charged (credited) to equity of Frontier: Utilization of the benefits arising from restricted stock - - (1 ) Deferred income taxes (benefits) arising from the recognition of additional pension/OPEB liability 32 (31 ) 7 Total income taxes charged (credited) to equity of Frontier 32 (31 ) 6 Total income tax benefit $ (579 ) $ (93 ) $ (1,377 ) |
Changes In The Balance Of Unrecognized Tax Benefits | ($ in millions) 2019 2018 Unrecognized tax benefits - beginning of year $ 11 $ 12 Gross increases - prior year tax positions - - Gross increases - current year tax positions 1 - Gross decreases - FIN 48 liability release - - Gross decreases - expired statute of limitations - (1 ) Unrecognized tax benefits - end of year $ 12 $ 11 |
Net Loss Per Common Share (Tabl
Net Loss Per Common Share (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Net Loss Per Common Share [Abstract] | |
Calculation Of Net Loss Per Common Share | ( $ in millions and shares in thousands, except per share amounts 2019 2018 2017 Net loss used for basic and diluted earnings (loss) per share: Net loss attributable to Frontier common shareholders $ (5,911 ) $ (750 ) $ (2,018 ) Less: Dividends paid on unvested restricted stock awards - - (2 ) Total basic net loss attributable to Frontier common shareholders $ (5,911 ) $ (750 ) $ (2,020 ) Effect of loss related to dilutive stock units - - - Total diluted net loss attributable to Frontier common shareholders $ (5,911 ) $ (750 ) $ (2,020 ) Basic earnings (loss) per share: Total weighted average shares and unvested restricted stock awards outstanding – basic 105,356 91,523 78,409 Less: Weighted average unvested restricted stock awards (1,291 ) (1,840 ) (673 ) Total weighted average shares outstanding – basic 104,065 89,683 77,736 Basic net loss per share attributable to Frontier common shareholders $ (56.80 ) $ (8.37 ) $ (25.99 ) Diluted earnings (loss) per share: Total weighted average shares outstanding – basic 104,065 89,683 77,736 Effect of dilutive shares - - - Total weighted average shares outstanding – diluted 104,065 89,683 77,736 Diluted net loss per share attributable to Frontier common shareholders $ (56.80 ) $ (8.37 ) $ (25.99 ) |
Comprehensive Loss (Tables)
Comprehensive Loss (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Comprehensive Loss [Abstract] | |
Accumulated Other Comprehensive Loss, Net Of Tax | ($ in millions) Pension Costs OPEB Costs Total Balance at December 31, 2016 (1) $ (403 ) $ 16 $ (387 ) Other comprehensive income (loss) before reclassifications (12 ) (31 ) (43 ) Amounts reclassified from accumulated other comprehensive income (loss) 70 (6 ) 64 Net current-period other comprehensive income (loss) 58 (37 ) 21 Balance at December 31, 2017 (1) (345 ) (21 ) (366 ) Other comprehensive income (loss) before reclassifications (191 ) 51 (140 ) Amounts reclassified from accumulated other comprehensive income (loss) 47 (4 ) 43 Net current-period other comprehensive income (loss) (144 ) 47 (97 ) Balance at December 31, 2018 (1) (489 ) 26 (463 ) Other comprehensive income (loss) before reclassifications (201 ) 17 (184 ) Amounts reclassified from accumulated other comprehensive income (loss) 89 (13 ) 76 Net current-period other comprehensive income (loss) (112 ) 4 (108 ) Impact of adoption of ASU 2018-02 (83 ) 4 (79 ) Balance at December 31, 2019 (1) $ (684 ) $ 34 $ (650 ) (1) Pension and OPEB amounts are net of deferred tax balances of $204 million, $250 million, $223 million and $231 million as of December 31, 2019, 2018, 2017, and 2016, respectively. |
Reclassification Out Of AOCI | ($ in millions) Amount Reclassified from Accumulated Other Comprehensive Loss (1) Details about Accumulated Other Comprehensive Loss Components 2019 2018 2017 Affected Line Item in the Statement where Net loss is Presented Amortization of Pension Cost Items (2) Actuarial gains (losses) $ (58 ) $ (24 ) $ (30 ) Pension settlement costs (57 ) (41 ) (83 ) Reclassifications, pretax (115 ) (65 ) (113 ) Loss before income taxes Tax Impact 26 18 43 Income tax (expense) benefit Reclassifications, net of tax $ (89 ) $ (47 ) $ (70 ) Net loss Amortization of OPEB Cost Items (2) Prior-service credits (costs) $ 11 $ 9 $ 9 Actuarial gains (losses) 4 (3 ) - Reclassifications, pretax 15 6 9 Loss before income taxes Tax impact (2 ) (2 ) (3 ) Income tax (expense) benefit Reclassifications, net of tax $ 13 $ 4 $ 6 Net loss (1) Amounts in parentheses indicate losses. (2) These accumulated other comprehensive loss components are included in the computation of net periodic pension and OPEB costs (see Note 20 - Retirement Plans for additional details). |
Quarterly Financial Data (Table
Quarterly Financial Data (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Quarterly Financial Data [Abstract] | |
Schedule Of Quarterly Financial Data | 2019 ($ in millions, except per share amounts) First Quarter Second Quarter Third Quarter Fourth Quarter Total Year Revenue $ 2,101 $ 2,067 $ 1,997 $ 1,942 $ 8,107 Operating income (loss ) (2)(3) $ 339 $ (5,459 ) $ 26 $ 220 $ (4,873 ) Net loss attributable to Frontier common shareholders (2)(3) $ (87 ) $ (5,317 ) $ (345 ) $ (162 ) $ (5,911 ) Basic and diluted net loss per share attributable to Frontier common shareholders (1)(2)(3) $ (0.84 ) $ (51.07 ) $ (3.31 ) $ (1.55 ) $ (56.80 ) (1) The quarterly net loss per share amounts are rounded to the nearest cent. Annual net loss per share may vary depending on the effect of such rounding and our preferred stock conversion during 2019. (2) During 2019, we recorded aggregate goodwill impairment charges of $5,725 million ($5,201 million after-tax). Refer to Note 8 for further details. (3) During 2019, we recorded aggregate losses on the disposal of our Northwest Operations of $446 million ($446 million after-tax). Refer to Note 7 for further details. 2018 ($ in millions, except per share amounts) First Quarter Second Quarter Third Quarter Fourth Total Year Revenue (3) $ 2,199 $ 2,162 $ 2,126 $ 2,124 $ 8,611 Operating income (loss) (2)(3) $ 366 $ 367 $ (33 ) $ 127 $ 827 Net loss attributable to Frontier common shareholders (2)(3) $ (33 ) $ (72 ) $ (426 ) $ (219 ) $ (750 ) Basic and diluted net loss per share attributable to Frontier common shareholders (1)(2)(3) $ (0.44 ) $ (0.92 ) $ (4.11 ) $ (2.12 ) $ (8.37 ) (1) The quarterly net loss per share amounts are rounded to the nearest cent. Annual net loss per share may vary depending on the effect of such rounding and our preferred stock conversion during 2018. (2) During 2018, we recorded aggregate goodwill impairment charges of $641 million ($572 million after-tax). Refer to Note 8 for further details. (3) Effective January 1, 2018, we adopted ASU 2014-09, “Revenue from Contracts with Customers,” as modified (ASC 606) using the modified retrospective method. Under this approach, prior period results were not restated to reflect the impact of ASC 606, resulting in limited comparability between 2018 and 2017 operating results. |
Retirement Plans (Tables)
Retirement Plans (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Retirement Plans [Abstract] | |
Projected Benefit Obligation, Fair Values Of Plan Assets And Amounts Recognized In The Balance Sheet | ( $ in millions 2019 2018 Change in projected benefit obligation (PBO) PBO at beginning of year $ 3,173 $ 3,363 Service cost 82 90 Interest cost 130 125 Actuarial (gain) loss 603 (88 ) Benefits paid (65 ) (63 ) Settlements (235 ) (254 ) Special termination benefits 38 - PBO at end of year $ 3,726 $ 3,173 Change in plan assets Fair value of plan assets at beginning of year $ 2,348 $ 2,674 Actual return on plan assets 516 (159 ) Employer contributions 166 150 Settlements (235 ) (254 ) Benefits paid (65 ) (63 ) Fair value of plan assets at end of year $ 2,730 $ 2,348 Funded status $ (996 ) $ (825 ) Amounts recognized in the consolidated balance sheet Pension and other postretirement benefits – current $ - $ - Pension and other postretirement benefits – noncurrent $ (996 ) $ (825 ) Accumulated other comprehensive loss $ 899 $ 754 |
Net Periodic Benefit Cost | ( $ in millions 2019 2018 2017 Components of total pension benefit cost Service cost $ 82 $ 90 $ 97 Interest cost on projected benefit obligation 130 125 127 Expected return on plan assets (172 ) (192 ) (186 ) Amortization of unrecognized loss 58 24 30 Net periodic pension benefit cost 98 47 68 Pension settlement costs 57 41 83 Pension special termination benefit enhancements 38 - 5 Total pension benefit cost $ 193 $ 88 $ 156 |
Weighted Average Asset Allocations, By Asset Category | 2019 2018 Asset category: Equity securities 49 % 48 % Debt securities 39 % 40 % Alternative investments 12 % 12 % Total 100 % 100 % |
Expected Benefit Payments Over The Next Ten Years | ($ in millions) Amount 2020 $ 296 2021 295 2022 286 2023 279 2024 277 2025-2029 1,308 Total $ 2,741 |
Schedule Of Assumptions Used | 2019 2018 2017 Discount rate - used at year end to value obligation 3.40 % 4.30 % 3.70 % Discount rate - used at beginning of year to compute annual cost 4.30 % 3.70 % 4.10 % Expected long-term rate of return on plan assets 7.50 % 7.50 % 7.50 % Rate of increase in compensation levels 2.00 % 2.00 % 2.50 % |
Schedule Of Changes In Projected Benefit Obligations For OPEB | ( $ in millions) 2019 2018 Change in benefit obligation Benefit obligation at beginning of year $ 965 $ 1,016 Service cost 20 21 Interest cost 41 38 Plan amendments (149 ) - Plan participants’ contributions 7 7 Actuarial (gain) loss 129 (79 ) Benefits paid (47 ) (38 ) Special termination benefits 6 - Benefit obligation at end of year $ 972 $ 965 Change in plan assets Fair value of plan assets at beginning of year $ - $ - Plan participants’ contributions 7 7 Employer contribution 40 31 Benefits paid (47 ) (38 ) Fair value of plan assets at end of year $ - $ - Funded status $ (972 ) $ (965 ) Amounts recognized in the consolidated balance sheet Pension and other postretirement benefits – current $ (43 ) $ (39 ) Pension and other postretirement benefits – noncurrent $ (900 ) $ (926 ) Pension and other postretirement benefits – AHFS* $ (29 ) $ - Accumulated other comprehensive (gain) loss $ (45 ) $ (41 ) * Assets Held for Sale |
Schedule Of Net Benefit Costs For OPEB | ( $ in millions 2019 2018 2017 Components of total postretirement benefit cost Service cost $ 20 $ 21 $ 21 Interest cost on projected benefit obligation 41 38 40 Amortization of prior service credit (11 ) (9 ) (9 ) Amortization of unrecognized gain (loss) (4 ) 3 - Net periodic postretirement benefit cost 46 53 52 OPEB special termination benefit enhancements 6 - - Total postretirement benefit cost $ 52 $ 53 $ 52 |
Schedule Of Assumptions Used For OPEB | 2019 2018 2017 Discount rate - used at year end to value obligation 3.40% - 3.50 % 4.30% - 4.40 % 3.70% - 3.80 % Discount rate - used to compute annual cost 4.30% - 4.40 % 3.70% - 3.80 % 4.10% - 4.30 % |
Schedule Of Expected Benefit Payments For OPEB | ($ in millions) Gross Benefit Medicare Part D Subsidy Total 2020 $ 43 $ - $ 43 2021 49 - 49 2022 49 - 49 2023 48 - 48 2024 53 - 53 2025-2029 274 2 276 Total $ 516 $ 2 $ 518 |
Net Periodic Benefit Cost Not Yet Recognized | Pension Plan OPEB ( $ in millions 2019 2018 2019 2018 Net actuarial loss $ 899 $ 754 $ 105 $ (28 ) Prior service credit - - (150 ) (13 ) Total $ 899 $ 754 $ (45 ) $ (41 ) |
Amounts Recognized As A Component Of AOCI | Pension Plan OPEB ( $ in millions 2019 2018 2019 2018 Accumulated other comprehensive (gain) loss at beginning of year $ 754 $ 556 $ (41 ) $ 33 Net actuarial (gain) loss recognized during year (58 ) (24 ) 4 (3 ) Prior service credit recognized during year - - 11 9 Prior service credit occurring during year - - (149 ) - Net actuarial (gain) loss occurring during year 260 263 130 (80 ) Settlement loss recognized (57 ) (41 ) - - Net amount recognized in comprehensive income (loss) for the year 145 198 (4 ) (74 ) Accumulated other comprehensive (gain) loss at end of year $ 899 $ 754 $ (45 ) $ (41 ) |
Fair Value Of Financial Instr_2
Fair Value Of Financial Instruments (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Fair Value Of Financial Instruments [Abstract] | |
Pension Plan Assets Measured At Fair Value on Recurring Basis | Fair Value Measurements at December 31, 2019 ( $ in millions Total Level 1 Level 2 Level 3 Cash and Cash Equivalents $ 46 $ 46 $ - $ - U.S. Government Obligations 39 - 39 - Corporate and Other Obligations 547 - 547 - Common Stock 552 552 - - Preferred Stock 4 4 - - Interest in Registered Investment Companies (1) 150 150 - - Interest in Limited Partnerships and Limited Liability Companies 163 - - 163 Total investments at fair value $ 1,501 $ 752 $ 586 $ 163 Common/Collective Trusts (1) 1,177 Interest in Registered Investment Companies (1) 87 Interest and Dividend Receivable 6 Due from Broker for Securities Sold 61 Receivable Associated with Insurance Contract 7 Due to Broker for Securities Purchased (109 ) Total Plan Assets, at Fair Value $ 2,730 Fair Value Measurements at December 31, 2018 ( $ in millions Total Level 1 Level 2 Level 3 Cash and Cash Equivalents $ 36 $ 36 $ - $ - U.S. Government Obligations 46 - 46 - Corporate and Other Obligations 425 - 425 - Common Stock 420 420 - - Interest in Registered Investment Companies (1) 262 262 - - Interest in Limited Partnerships and Limited Liability Companies 155 - - 155 Total investments at fair value $ 1,344 $ 718 $ 471 $ 155 Common/Collective Trusts (1) 1,031 Interest and Dividend Receivable 6 Due from Broker for Securities Sold 20 Receivable Associated with Insurance Contract 7 Due to Broker for Securities Purchased (60 ) Total Plan Assets, at Fair Value $ 2,348 (1) Investments that are measured at fair value using the net asset value (“NAV”) practical expedient have not been classified in the fair value hierarchy. The fair value of common/collective trusts are estimated using the using the NAV per share multiplied by the number of shares of the trust investment held as of the measurement date. Additionally, the fair value of certain assets totaling $87 million and $131 million, as of December 31, 2019 and 2018, respectively, included in “Interest in Registered Investment Companies” were estimated using the NAV practical expedient. These balances are intended to permit reconciliation of the fair value hierarchy to the plan asset amounts presented in Note 20 - Retirement Plans. |
Changes In Fair Value of Plan's Level 3 Assets | Interest in Limited Partnerships and Limited Liability Companies ( $ in millions 2019 2018 Balance at beginning of year $ 155 $ 115 Realized gains 14 11 Unrealized gains (losses) 8 3 Purchases - 37 Sales and distributions (14 ) (11 ) Balance at end of year $ 163 $ 155 |
Redemption Of The Plan's Level 3 Investments | ( $ in millions Fair Value Liquidation Period Capitalization Rate Interest in Limited Partnerships and Limited Liability Companies (4) MS IFHF SVP LP Cayman (1) $ 1 5 years N/A RII World Timberfund, LLC (2) 5 2 years N/A 426 E. Casino Road, LLC (3) 16 N/A 7.00 % 100 Comm Drive, LLC (3) 10 N/A 7.75 % 100 CTE Drive, LLC (3) 11 N/A 9.5% - 10.0 % 6430 Oakbrook Parkway, LLC (3) 27 N/A 7.75 % 8001 West Jefferson, LLC (3) 28 N/A 8.75 % 1500 MacCorkle Ave SE, LLC (3) 15 N/A 8.50 % 400 S. Pike Road West, LLC (3) 1 N/A 8.50 % 601 N. US 131, LLC (3) 1 N/A 9.50 % 9260 E. Stockton Blvd., LLC (3) 6 N/A 7.25 % 120 E. Lime Street, LLC (3) 9 N/A 9.00 % 610 N. Morgan Street, LLC (3) 33 N/A 8.50 % Total Interest in Limited Partnerships and Limited Liability Companies $ 163 (1) The partnerships’ investment objective is to seek capital appreciation principally through investing in investment funds managed by third party investment managers who employ a variety of alternative investment strategies. These instruments are subject to certain withdrawal restrictions. The Plan is in the process of liquidating its interest in the partnerships and distributions are expected to be made over the next five years. (2) The fund’s objective is to realize substantial long-term capital appreciation by investing in timberland properties primarily in South America and Australia. This investment is subject to certain withdrawal restrictions. In 2019, the fund entered into liquidation period of the partnerships and distributions are expected to be made over the next two years. (3) The entity invests in commercial real estate properties that are leased to Frontier. The leases are triple net, whereby Frontier is responsible for all expenses, including but not limited to, insurance, repairs and maintenance and payment of property taxes. (4) All Level 3 investments have the same redemption frequency (through the liquidation of underlying investments) and redemption notice period (none). The fair value of these properties is based on independent appraisals. |
Fair Value Of Long-Term Debt | 2019 2018 ($ in millions) Carrying Amount Fair Value Carrying Amount Fair Value Total debt $ 17,516 $ 12,026 $ 17,400 $ 12,756 |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Commitments And Contingencies [Abstract] | |
Future Payments For Obligations Under Noncancelable Long Distance Contracts And Service Agreements | ($ in millions) Amount Year ending December 31: 2020 $ 79 2021 34 2022 15 2023 6 2024 4 Thereafter 6 Total $ 144 |
Outstanding Performance Letters Of Credit | ($ in millions) Amount CNA Financial Corporation (CNA) $ 49 AIG Insurance 28 Zurich 73 All other 1 Total $ 151 |
Description Of Business And S_3
Description Of Business And Summary Of Significant Accounting Policies (Narrative) (Details) Customer in Millions, $ in Millions | Mar. 16, 2020USD ($) | Jul. 10, 2017shares | Dec. 31, 2019USD ($)EmployeeStateCustomershares | Sep. 30, 2019USD ($) | Jun. 30, 2019USD ($) | Mar. 31, 2019USD ($) | Dec. 31, 2018USD ($)shares | Sep. 30, 2018USD ($) | Jun. 30, 2018USD ($) | Mar. 31, 2018USD ($) | Dec. 31, 2019USD ($)EmployeesegmentStateCustomershares | Dec. 31, 2018USD ($)shares | Dec. 31, 2017USD ($) | Jan. 02, 2019USD ($) | Jul. 09, 2017shares |
Number of customers | Customer | 4.1 | 4.1 | |||||||||||||
Number of subscribers | Customer | 3.5 | 3.5 | |||||||||||||
Number of employees | Employee | 18,300 | 18,300 | |||||||||||||
Number of states of operation | State | 29 | 29 | |||||||||||||
Reverse stock split, conversion ratio | 0.0667 | ||||||||||||||
Common stock, shares issued (in shares) | shares | 80,000,000 | 106,025,000 | 106,025,000 | 106,025,000 | 106,025,000 | ||||||||||
Common stock, shares outstanding (in shares) | shares | 79,000,000 | 105,131,000 | 105,536,000 | 105,131,000 | 105,536,000 | ||||||||||
Common stock, shares authorized (in shares) | shares | 175,000,000 | 175,000,000 | 175,000,000 | 175,000,000 | 175,000,000 | ||||||||||
Reverse Stock Split, Fractional Shares Issued | shares | 0 | ||||||||||||||
Cash and cash equivalents | $ 760 | $ 354 | $ 760 | $ 354 | |||||||||||
Accumulated deficit | (8,573) | (2,752) | (8,573) | (2,752) | $ (2,741) | ||||||||||
Operating loss | 220 | $ 26 | $ (5,459) | $ 339 | 127 | $ (33) | $ 367 | $ 366 | (4,873) | 827 | $ (1,483) | ||||
Net loss | (5,911) | (643) | (1,804) | ||||||||||||
Restricted Cash | $ 50 | 50 | |||||||||||||
Customer surcharges | 221 | 213 | 216 | ||||||||||||
Video franchise fees | $ 40 | 47 | $ 52 | ||||||||||||
Number of operating regions | segment | 1 | ||||||||||||||
Expected customer life | 4 years | 4 years | |||||||||||||
Number of reporting units | segment | 2 | ||||||||||||||
Subsequent Event [Member] | |||||||||||||||
Deferred scheduled interest payments | $ 322 | ||||||||||||||
Debt repayment grace period | 60 days | ||||||||||||||
Subsequent Event [Member] | Minimum [Member] | |||||||||||||||
Percentage of outstanding principal held by holders of the deferred payment senior notes | 25.00% | ||||||||||||||
Previously Reported [Member] | |||||||||||||||
Common stock, shares issued (in shares) | shares | 1,193,000,000 | ||||||||||||||
Common stock, shares outstanding (in shares) | shares | 1,178,000,000 | ||||||||||||||
Common stock, shares authorized (in shares) | shares | 1,750,000,000 | ||||||||||||||
Accumulated deficit | $ (2,752) | $ (2,752) |
Recent Accounting Pronounceme_2
Recent Accounting Pronouncements (Narrative) (Details) $ in Millions | 12 Months Ended |
Dec. 31, 2019USD ($) | |
Accounting Standards Update 2016-02 [Member] | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |
Cumulative-effect adjustment, Net of tax | $ 15 |
Impact of adoption of new accounting principle | 11 |
Accounting Standards Update 2018-11 [Member] | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |
Cumulative-effect adjustment, Net of tax | 15 |
Accounting Standards Update 2018-02 [Member] | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |
Impact of adoption of new accounting principle | $ (79) |
Revenue Recognition (Narrative)
Revenue Recognition (Narrative) (Details) $ in Millions | Dec. 31, 2019USD ($) |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |
Revenue, Remaining Performance Obligation, Amount | $ 4,018 |
Northwest Operations [Member] | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |
Revenue, Remaining Performance Obligation, Amount | $ 289 |
Revenue Recognition (Disaggrega
Revenue Recognition (Disaggregation Of Revenue) (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disaggregation of Revenue [Line Items] | |||||||||||
Revenue from contracts with customers | $ 7,738 | $ 8,228 | $ 8,352 | ||||||||
Subsidy and other regulatory revenue | 369 | 383 | 776 | ||||||||
Total revenue | $ 1,942 | $ 1,997 | $ 2,067 | $ 2,101 | $ 2,124 | $ 2,126 | $ 2,162 | $ 2,199 | 8,107 | 8,611 | 9,128 |
Data And Internet Services [Member] | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Revenue from contracts with customers | 3,756 | 3,878 | 3,862 | ||||||||
Voice Services [Member] | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Revenue from contracts with customers | 2,500 | 2,721 | 2,864 | ||||||||
Video Services [Member] | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Revenue from contracts with customers | 1,005 | 1,085 | 1,304 | ||||||||
Other [Member] | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Revenue from contracts with customers | 477 | 544 | 322 | ||||||||
Consumer [Member] | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Revenue from contracts with customers | 4,153 | 4,380 | 4,476 | ||||||||
Commercial [Member] | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Revenue from contracts with customers | $ 3,585 | $ 3,848 | $ 3,876 |
Revenue Recognition (Summary Of
Revenue Recognition (Summary Of Changes In Assets) (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Revenue Recognition [Abstract] | ||
Beginning balance | $ 107 | $ 87 |
Commissions deferred, Current | 138 | 128 |
Commission costs recognized, Current | (131) | (108) |
Reclass to assets held for sale, Current | (9) | |
Ending balance | 105 | 107 |
Beginning balance | 127 | 117 |
Commissions deferred, Noncurrent | 6 | 10 |
Reclass to assets held for sale, Noncurrent | (12) | |
Ending balance | $ 121 | $ 127 |
Revenue Recognition (Changes In
Revenue Recognition (Changes In Contract Assets And Contract Liabilities) (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Revenue Recognition [Abstract] | ||
Contract current assets, Beginning balance | $ 44 | $ 40 |
Contract current assets, Revenue recognized included in opening contract balance | (39) | (49) |
Contract current assets, Credits granted, excluding amounts recognized as revenue | 30 | 49 |
Contract current assets, Reclassified between Current and Noncurrent | 5 | 4 |
Contract current assets, Reclassified to held for sale | (3) | |
Contract current assets, Ending balance | 37 | 44 |
Contract noncurrent assets, Beginning balance | 25 | 37 |
Contract noncurrent assets, Revenue recognized included in opening contract balance | (12) | (8) |
Contract noncurrent assets, Credits granted, excluding amounts recognized as revenue | 1 | |
Contract noncurrent assets, Reclassified between Current and NonCurrent | (5) | (4) |
Contract noncurrent assets, Reclassified to held for sale | (1) | |
Contract noncurrent assets, Ending balance | 8 | 25 |
Contract current liabilities, Beginning balance | 49 | 41 |
Contract current liabilities, Revenue recognized included in opening contract balance | (81) | (106) |
Contract current liabilities, Cash received, excluding amounts recognized as revenue | 78 | 129 |
Contract current liabilities, Reclassified to held for sale | (5) | (10) |
Contract current liabilities, Other | (5) | |
Contract current liabilities, Ending balance | 41 | 49 |
Contract noncurrent liabilities, Beginning balance | 22 | 19 |
Contract noncurrent liabilities, Revenue recognized included in opening contract balance | (17) | (13) |
Contract noncurrent liabilities, Cash received, excluding amounts recognized as revenue | 16 | 6 |
Contract noncurrent liabilities, Reclassified between Current and NonCurrent | 10 | |
Contract noncurrent liabilities, Ending balance | $ 21 | $ 22 |
Revenue Recognition (Performanc
Revenue Recognition (Performance Obligations, Revenue) (Details) $ in Millions | Dec. 31, 2019USD ($) |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue from remaining performance obligations | $ 4,018 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue from remaining performance obligations | $ 2,163 |
Performance obligation satisfaction period | 1 year |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue from remaining performance obligations | $ 957 |
Performance obligation satisfaction period | 1 year |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue from remaining performance obligations | $ 431 |
Performance obligation satisfaction period | 1 year |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue from remaining performance obligations | $ 200 |
Performance obligation satisfaction period | 1 year |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue from remaining performance obligations | $ 107 |
Performance obligation satisfaction period | 1 year |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue from remaining performance obligations | $ 160 |
Performance obligation satisfaction period |
Acquisitions (Narrative) (Detai
Acquisitions (Narrative) (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2017 | Apr. 01, 2016 | |
Business Acquisition, Date of Acquisition [Abstract] | ||
Integration costs | $ 25 | |
Capital Expenditures Integration Activities | 34 | |
CTF Acquisition [Member] | ||
Business Acquisition, Date of Acquisition [Abstract] | ||
Acquisition purchase price | $ 10,540 | |
Capital Expenditures Integration Activities | $ 34 |
Accounts Receivable (Narrative)
Accounts Receivable (Narrative) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Accounts Receivable [Abstract] | |||
Provision for uncollectible amounts | $ 109 | $ 93 | $ 87 |
Recoveries | $ 37 | $ 9 | $ 39 |
Accounts Receivable (Accounts R
Accounts Receivable (Accounts Receivable) (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Accounts Receivable [Abstract] | ||
Retail and Wholesale | $ 678 | $ 745 |
Other | 71 | 83 |
Less: Allowance for doubtful accounts | (120) | (105) |
Accounts receivable, net | $ 629 | $ 723 |
Accounts Receivable (Schedule O
Accounts Receivable (Schedule Of Allowance For Doubtful Accounts) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Valuation and Qualifying Accounts Disclosure [Line Items] | |||
Allowance for Doubtful Accounts, Beginning of the Period | $ 105 | ||
Allowance for Doubtful Accounts, End of the Period | 120 | $ 105 | |
Allowance for Doubtful Accounts [Member] | |||
Valuation and Qualifying Accounts Disclosure [Line Items] | |||
Allowance for Doubtful Accounts, Beginning of the Period | 105 | 69 | $ 131 |
Charged to Other Revenue | 109 | 93 | 87 |
Write-offs, net of Recoveries | (83) | (89) | (149) |
Reclassified to Northwest Operations | (11) | ||
Allowance for Doubtful Accounts, End of the Period | 120 | 105 | $ 69 |
Restatement Adjustment [Member] | Impact Of Adoption Of ACS 606 [Member] | Allowance for Doubtful Accounts [Member] | |||
Valuation and Qualifying Accounts Disclosure [Line Items] | |||
Allowance for Doubtful Accounts, Beginning of the Period | $ 32 | ||
Allowance for Doubtful Accounts, End of the Period | $ 32 |
Property, Plant And Equipment_2
Property, Plant And Equipment (Narrative) (Details) - USD ($) $ in Millions | 1 Months Ended | 12 Months Ended | ||
Jan. 31, 2019 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Property, Plant and Equipment [Line Items] | ||||
Fixed assets were reclassified to assets held for sale | $ 1,049 | |||
Capital Leased Assets, Gross | 167 | $ 152 | $ 171 | |
Proceeds from sale of property | $ 106 | $ 106 | ||
Towers [Member] | ||||
Property, Plant and Equipment [Line Items] | ||||
Proceeds from sale of property | $ 76 | |||
Gain on sale of property | 75 | |||
Aggregate carrying value of the towers | $ 1 | |||
Accounting Standards Update 2016-02 [Member] | ||||
Property, Plant and Equipment [Line Items] | ||||
Cumulative-effect adjustment, Net of tax | 15 | |||
Cumulative-effect adjustment | $ 11 |
Property, Plant, And Equipment
Property, Plant, And Equipment (Property, Plant And Equipment, Net) (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment | $ 26,552 | $ 27,657 |
Construction work in progress | 378 | 436 |
Less: Accumulated depreciation | (13,589) | (13,470) |
Property, plant and equipment, net | 12,963 | 14,187 |
Land [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment | 217 | 230 |
Buildings and Leasehold Improvements [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment | $ 2,171 | 2,302 |
Estimated useful lives | 40 years | |
General Support [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment | $ 1,624 | 1,616 |
General Support [Member] | Maximum [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Estimated useful lives | 15 years | |
General Support [Member] | Minimum [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Estimated useful lives | 5 years | |
Central Office Electronic Circuit Equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment | $ 7,968 | 8,447 |
Central Office Electronic Circuit Equipment [Member] | Maximum [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Estimated useful lives | 8 years | |
Central Office Electronic Circuit Equipment [Member] | Minimum [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Estimated useful lives | 5 years | |
Poles [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment | $ 1,274 | 1,211 |
Estimated useful lives | 30 years | |
Cable, Fiber and Wire [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment | $ 11,312 | 11,743 |
Cable, Fiber and Wire [Member] | Maximum [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Estimated useful lives | 25 years | |
Cable, Fiber and Wire [Member] | Minimum [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Estimated useful lives | 15 years | |
Conduit [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment | $ 1,608 | $ 1,672 |
Estimated useful lives | 50 years |
Property, Plant, And Equipmen_2
Property, Plant, And Equipment (Schedule Of Depreciation Expense) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Depreciation [Abstract] | |||
Depreciation expense | $ 1,335 | $ 1,385 | $ 1,485 |
Planned Divestiture Of Northw_3
Planned Divestiture Of Northwest Operations (Narrative) (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | May 31, 2019 | |
Planned Divestiture Of Northwest Operations [Abstract] | ||
Consideration amount | $ 1,352 | |
Loss on disposal of Northwest Operations | $ 446 |
Planned Divestiture Of Northw_4
Planned Divestiture Of Northwest Operations (Schedule Of Assets And Liabilities Held For Sale) (Details) $ in Millions | Dec. 31, 2019USD ($) |
Planned Divestiture Of Northwest Operations [Abstract] | |
Accounts receivable, less allowances of $11 | $ 46 |
Prepaid expenses | 1 |
Contract acquisition costs | 9 |
Other current assets | 3 |
Property, plant and equipment, net | 1,049 |
Goodwill | 658 |
Other intangibles, net | 30 |
Other assets | 26 |
Valuation allowance on assets held for sale | (421) |
Total assets held for sale | 1,401 |
Accounts payable | 12 |
Advanced billings | 18 |
Accrued other taxes | 6 |
Other current liabilities | 18 |
Pension and other postretirement benefits | 29 |
Other liabilities | 40 |
Total liabilities held for sale | 123 |
Allowance for accounts receivable, classified as held for sale | 11 |
Pension liability | 163 |
Pension asset to transfer | $ 98 |
Percent of pension liability to transfer | 60.00% |
Goodwill And Other Intangible_2
Goodwill And Other Intangibles (Narrative) (Details) - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||||||||
Sep. 30, 2019 | Jun. 30, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Finite-Lived Intangible Assets [Line Items] | ||||||||||||
Accumulated goodwill impairment charges | $ 3,429,000,000 | $ 9,154,000,000 | $ 3,429,000,000 | |||||||||
Estimated future amortization expense, year 1 | 343,000,000 | |||||||||||
Estimated future amortization expense, year 2 | 253,000,000 | |||||||||||
Estimated future amortization expense, year 3 | 170,000,000 | |||||||||||
Estimated future amortization expense, year 4 | 95,000,000 | |||||||||||
Estimated future amortization expense, year 5 | 26,000,000 | |||||||||||
Goodwill Impairment | 5,725,000,000 | 641,000,000 | $ 2,748,000,000 | |||||||||
Infinite-lived intangible impairment | $ 0 | $ 0 | $ 0 | |||||||||
Minimum [Member] | ||||||||||||
Finite-Lived Intangible Assets [Line Items] | ||||||||||||
Useful life | 8 years | |||||||||||
Maximum [Member] | ||||||||||||
Finite-Lived Intangible Assets [Line Items] | ||||||||||||
Useful life | 12 years | |||||||||||
Measurement Input, EBITDA Multiple [Member] | ||||||||||||
Finite-Lived Intangible Assets [Line Items] | ||||||||||||
EBITDA multiplier | 4.40% | 4.40% | 5.30% | 5.50% | 5.50% | 5.50% | 5.50% | 5.50% | 5.80% | 4.40% | ||
Measurement Input, EBITDA Multiple [Member] | Minimum [Member] | ||||||||||||
Finite-Lived Intangible Assets [Line Items] | ||||||||||||
EBITDA multiplier | 4.40% | |||||||||||
Measurement Input, EBITDA Multiple [Member] | Maximum [Member] | ||||||||||||
Finite-Lived Intangible Assets [Line Items] | ||||||||||||
EBITDA multiplier | 6.50% | |||||||||||
Customer Base [Member] | ||||||||||||
Finite-Lived Intangible Assets [Line Items] | ||||||||||||
Acquired Finite-lived Intangible Asset, Weighted-Average Period before Renewal or Extension | 4 years 4 months 24 days | |||||||||||
Transfer of gross intangible assets to held for sale | $ 856,000,000 | |||||||||||
Transfer of net intangible assets to held for sale | $ 30,000,000 | |||||||||||
Royalty Agreement [Member] | ||||||||||||
Finite-Lived Intangible Assets [Line Items] | ||||||||||||
Acquired Finite-lived Intangible Asset, Weighted-Average Period before Renewal or Extension | 1 year 3 months 18 days |
Goodwill And Other Intangible_3
Goodwill And Other Intangibles (Schedule Of Goodwill Activity) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Goodwill And Other Intangibles [Abstract] | |||
Goodwill, Beginning Balance | $ 6,383 | $ 7,024 | |
Reclassified as held for sale | (658) | ||
Goodwill impairment | $ (5,725) | (641) | $ (2,748) |
Goodwill, Ending Balance | $ 6,383 | $ 7,024 |
Goodwill And Other Intangible_4
Goodwill And Other Intangibles (Components Of Other Intangibles) (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Intangible Assets [Line Items] | ||
Gross Carrying Amount, Total | $ 4,526 | $ 5,382 |
Accumulated Amortization | (3,506) | (3,888) |
Net Carrying Amount | 1,020 | 1,494 |
Trade Name [Member] | ||
Intangible Assets [Line Items] | ||
Gross Carrying Amount, Indefinite | 122 | 122 |
Net Carrying Amount | 122 | 122 |
Customer Base [Member] | ||
Intangible Assets [Line Items] | ||
Gross Carrying Amount, Finite | 4,332 | 5,188 |
Accumulated Amortization | (3,452) | (3,848) |
Net Carrying Amount | 880 | 1,340 |
Royalty Agreement [Member] | ||
Intangible Assets [Line Items] | ||
Gross Carrying Amount, Finite | 72 | 72 |
Accumulated Amortization | (54) | (40) |
Net Carrying Amount | $ 18 | $ 32 |
Goodwill And Other Intangible_5
Goodwill And Other Intangibles (Schedule Of Amortization Expense) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Goodwill And Other Intangibles [Abstract] | |||
Amortization expense | $ 445 | $ 569 | $ 699 |
Long-Term Debt (Narrative) (Det
Long-Term Debt (Narrative) (Details) - USD ($) | Mar. 15, 2019 | Oct. 01, 2018 | Jul. 03, 2017 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Jul. 03, 2018 | Mar. 19, 2018 | Jun. 15, 2017 |
Debt Instrument [Line Items] | ||||||||||
Line of credit facility, current borrowings | $ 749,000,000 | |||||||||
Payment to retire debt instruments | 2,483,000,000 | |||||||||
Loss on early extinguishment of debt | $ (20,000,000) | $ 32,000,000 | $ (88,000,000) | |||||||
Gain on extinguishment of debt | 32,000,000 | |||||||||
Financing obligation for contributions of real property to pension plan | 37,000,000 | |||||||||
Pension Building Contribution Aggregate Annual Rent | 5,000,000 | |||||||||
Lease term of contributed property | 20 years | |||||||||
Gain (loss) on contribution of property to defined benefit | $ 0 | |||||||||
Capital Lease Term, minimum years | 1 year | |||||||||
Capital Lease Term, maximum years | 7 years | |||||||||
Proceeds from long-term debt borrowings | $ 1,650,000,000 | 1,840,000,000 | $ 1,500,000,000 | |||||||
Remaining outstanding principal | 17,516,000,000 | 17,400,000,000 | ||||||||
Sale leaseback transaction | 37,000,000 | |||||||||
Letter of Credit [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Line of credit facility, current borrowings | $ 101,000,000 | |||||||||
Term Loan Due 06/15/2024 [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Debt instrument, maturity date | Jun. 15, 2024 | |||||||||
Proceeds from long-term debt borrowings | $ 240,000,000 | 240,000,000 | ||||||||
Senior Unsecured Debt [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Payments to retire debt | 117,000,000 | |||||||||
Senior Unsecured Debt [Member] | Senior Note Due 7/1/2021 [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Interest rate | 9.25% | |||||||||
Debt instrument, maturity date | Jul. 1, 2021 | |||||||||
Payments to retire debt | $ 10,000,000 | |||||||||
Senior Unsecured Debt [Member] | Senior Note Due 10/1/2018 [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Interest rate | 8.125% | |||||||||
Debt instrument, maturity date | Oct. 1, 2018 | |||||||||
Payments to retire debt | $ 92,000,000 | |||||||||
Senior Unsecured Debt [Member] | Senior Note Due 4/15/2020 [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Interest rate | 8.50% | |||||||||
Debt instrument, maturity date | Apr. 15, 2020 | |||||||||
Payments to retire debt | $ 550,000,000 | |||||||||
Senior Unsecured Debt [Member] | Senior Note Due 9/15/2020 [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Interest rate | 8.875% | |||||||||
Debt instrument, maturity date | Sep. 15, 2020 | |||||||||
Payments to retire debt | $ 763,000,000 | |||||||||
Senior Unsecured Debt [Member] | Senior Note Due 3/15/2019 [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Interest rate | 7.125% | 7.125% | ||||||||
Debt instrument, maturity date | Mar. 15, 2019 | |||||||||
Payments to retire debt | $ 30,000,000 | |||||||||
Payment to retire debt instruments | $ 348,000,000 | |||||||||
Senior Unsecured Debt [Member] | Senior Note Due 4/15/2017 [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Interest rate | 8.25% | |||||||||
Payments to retire debt | $ 210,000,000 | |||||||||
Senior Unsecured Debt [Member] | Senior Notes Due 2020 [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Remaining outstanding principal | 227,000,000 | |||||||||
Senior Unsecured Debt [Member] | Senior Notes Due 2021 [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Remaining outstanding principal | 309,000,000 | |||||||||
Secured Debt [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Payment to retire debt instruments | 828,000,000 | |||||||||
Remaining outstanding principal | $ 5,711,000,000 | 5,246,000,000 | ||||||||
Secured Debt [Member] | Second Lien Notes Due 4/1/2026 [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Debt instrument, face amount | $ 1,600,000,000 | $ 1,600,000,000 | ||||||||
Interest rate | 8.50% | 8.50% | 8.50% | |||||||
Debt instrument, maturity date | Apr. 1, 2026 | |||||||||
Remaining outstanding principal | $ 1,600,000,000 | $ 1,600,000,000 | ||||||||
Secured Debt [Member] | Term Loan Due 06/15/2024 [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Interest rate | 5.55% | 6.28% | ||||||||
Debt instrument, maturity date | Jun. 15, 2024 | |||||||||
Remaining outstanding principal | $ 1,699,000,000 | $ 1,716,000,000 | ||||||||
Secured Debt [Member] | First Lien Notes Due 4/1/2027 [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Debt instrument, face amount | $ 1,650,000,000 | |||||||||
Interest rate | 8.00% | 8.00% | ||||||||
Debt instrument, maturity date | Apr. 1, 2027 | |||||||||
Remaining outstanding principal | $ 1,650,000,000 | |||||||||
Secured Debt [Member] | Revolver Due 2/27/2024 [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Interest rate | 4.76% | 5.28% | ||||||||
Debt instrument, maturity date | Feb. 27, 2024 | |||||||||
Remaining outstanding principal | $ 749,000,000 | $ 275,000,000 | ||||||||
Unsecured Debt [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Remaining outstanding principal | $ 10,949,000,000 | $ 11,297,000,000 | ||||||||
Unsecured Debt [Member] | Senior Note Due 7/1/2021 [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Interest rate | 9.25% | 9.25% | ||||||||
Debt instrument, maturity date | Jul. 1, 2021 | Jul. 1, 2021 | ||||||||
Payment to retire debt instruments | $ 400,000,000 | |||||||||
Remaining outstanding principal | $ 89,000,000 | $ 89,000,000 | ||||||||
Unsecured Debt [Member] | Senior Note Due 9/15/2021 [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Interest rate | 6.25% | 6.25% | ||||||||
Debt instrument, maturity date | Sep. 15, 2021 | Sep. 15, 2021 | ||||||||
Payment to retire debt instruments | $ 555,000,000 | |||||||||
Remaining outstanding principal | $ 220,000,000 | $ 220,000,000 | ||||||||
Unsecured Debt [Member] | Senior Note Due 4/15/2022 [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Interest rate | 8.75% | 8.75% | ||||||||
Debt instrument, maturity date | Apr. 15, 2022 | |||||||||
Remaining outstanding principal | $ 500,000,000 | $ 500,000,000 | ||||||||
Unsecured Debt [Member] | Senior Note Due 9/15/2022 [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Interest rate | 10.50% | 10.50% | ||||||||
Debt instrument, maturity date | Sep. 15, 2022 | |||||||||
Remaining outstanding principal | $ 2,188,000,000 | $ 2,188,000,000 | ||||||||
Unsecured Debt [Member] | Senior Note Due 1/15/2023 [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Interest rate | 7.125% | 7.125% | ||||||||
Debt instrument, maturity date | Jan. 15, 2023 | |||||||||
Remaining outstanding principal | $ 850,000,000 | $ 850,000,000 | ||||||||
Unsecured Debt [Member] | Senior Note Due 4/15/2024 [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Interest rate | 7.625% | 7.625% | ||||||||
Debt instrument, maturity date | Apr. 15, 2024 | |||||||||
Remaining outstanding principal | $ 750,000,000 | $ 750,000,000 | ||||||||
Unsecured Debt [Member] | Senior Note Due 1/15/2025 [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Interest rate | 6.875% | 6.875% | ||||||||
Debt instrument, maturity date | Jan. 15, 2025 | |||||||||
Remaining outstanding principal | $ 775,000,000 | $ 775,000,000 | ||||||||
Unsecured Debt [Member] | Debentures Due 11/1/2025 [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Interest rate | 7.00% | 7.00% | ||||||||
Debt instrument, maturity date | Nov. 1, 2025 | |||||||||
Remaining outstanding principal | $ 138,000,000 | $ 138,000,000 | ||||||||
Unsecured Debt [Member] | Senior Note Due 8/15/2031 [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Interest rate | 9.00% | 9.00% | ||||||||
Debt instrument, maturity date | Aug. 15, 2031 | |||||||||
Remaining outstanding principal | $ 945,000,000 | $ 945,000,000 | ||||||||
Unsecured Debt [Member] | Debentures Due 10/1/2034 [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Interest rate | 7.68% | 7.68% | ||||||||
Debt instrument, maturity date | Oct. 1, 2034 | |||||||||
Remaining outstanding principal | $ 1,000,000 | $ 1,000,000 | ||||||||
Unsecured Debt [Member] | Senior Notes Due 10/1/2018 [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Interest rate | 8.125% | |||||||||
Debt instrument, maturity date | Oct. 1, 2018 | |||||||||
Payments to retire debt | $ 61,000,000 | |||||||||
Payment to retire debt instruments | $ 431,000,000 | |||||||||
Unsecured Debt [Member] | Senior Note Due 4/15/2020 [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Interest rate | 8.50% | 8.50% | ||||||||
Debt instrument, maturity date | Apr. 15, 2020 | |||||||||
Payment to retire debt instruments | $ 447,000,000 | |||||||||
Remaining outstanding principal | $ 172,000,000 | $ 172,000,000 | ||||||||
Unsecured Debt [Member] | Senior Note Due 9/15/2020 [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Interest rate | 8.875% | 8.875% | ||||||||
Debt instrument, maturity date | Sep. 15, 2020 | Sep. 15, 2020 | ||||||||
Payment to retire debt instruments | $ 249,000,000 | |||||||||
Remaining outstanding principal | $ 55,000,000 | $ 55,000,000 | ||||||||
Unsecured Debt [Member] | Senior Note Due 3/15/2019 [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Interest rate | 7.125% | |||||||||
Debt instrument, maturity date | Mar. 15, 2019 | Mar. 15, 2019 | ||||||||
Payments to retire debt | $ 56,000,000 | |||||||||
Remaining outstanding principal | 348,000,000 | |||||||||
Unsecured Debt Excluding Open Market Purchases [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Payment to retire debt instruments | $ 1,651,000,000 | |||||||||
JP Morgan Term Loan A [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Debt instrument, face amount | $ 1,625,000,000 | |||||||||
JP Morgan Term Loan A [Member] | Senior Notes Due 2021 [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Debt instrument, maturity date | Mar. 31, 2021 | |||||||||
JP Morgan Term Loan B [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Debt instrument, face amount | $ 1,740,000,000 | $ 1,500,000,000 | ||||||||
Debt instrument, maturity date | Jun. 15, 2024 | |||||||||
JP Morgan Revolving Credit Facility 2015 [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Debt instrument, maturity date | Feb. 27, 2024 | |||||||||
Line of credit facility maximum borrowing capacity | $ 850,000,000 | |||||||||
JP Morgan Revolving Credit Facility 2015 [Member] | London Interbank Offered Rate (LIBOR) [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Effective basis spread | 3.00% | |||||||||
JP Morgan Revolving Credit Facility 2015 [Member] | Revolver Due 2/27/2024 [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Increased interest rate | 0.25% | |||||||||
JP Morgan Revolving Credit Facility 2015 [Member] | Senior Notes Maturing In 2020, 2023 And 2024 [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Days Prior To Maturity To Meet Threshold To Not Accelerate Debt | 91 days | |||||||||
Maximum Debt Threshold To Not Accelerate Debt | $ 500,000,000 | |||||||||
JP Morgan Revolving Credit Facility 2015 [Member] | Senior Notes Maturing In 2021 Or 2022 [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Days Prior To Maturity To Meet Threshold To Not Accelerate Debt | 91 days | |||||||||
Maximum Debt Threshold To Not Accelerate Debt | $ 500,000,000 | |||||||||
JP Morgan Revolving Credit Facility 2015 [Member] | Senior Unsecured Debt [Member] | Senior Notes Maturing In 2020, 2023 And 2024 [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Maximum Debt Threshold To Not Accelerate Debt | $ 500,000,000 | |||||||||
JP Morgan Revolving Credit Facility 2015 [Member] | Secured Debt [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Debt instrument, maturity date | Feb. 27, 2024 | Feb. 27, 2022 | ||||||||
JP Morgan Term Loan B And Revolver [Member] | Revolver Due 2/27/2024 [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Debt Instrument, Acceleration Cause | The maturities of the Term Loan B and the Revolver, in each case if still outstanding, will be accelerated in the following circumstances: (i) if, 91 days before the maturity date of any series of Senior Notes maturing in 2020, 2023 and 2024, more than $500 million in principal amount remains outstanding on such series; or (ii) if, 91 days before the maturity date of the first series of Senior Notes maturing in 2021 or 2022, more than $500 million in principal amount remains outstanding, in the aggregate, on the two series of Senior Notes maturing in such year. | |||||||||
Letter Of Credit, July 2019 [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Line of credit facility, current borrowings | $ 20,000,000 | |||||||||
CoBank Term Loan 2016 [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Debt instrument, face amount | $ 315,000,000 | |||||||||
Debt instrument, maturity date | Oct. 12, 2021 | |||||||||
CoBank Term Loan 2014 [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Debt instrument, face amount | $ 350,000,000 | |||||||||
JP Morgan Term Loan B [Member] | Base Rate [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Interest rate margin | 2.75% | |||||||||
JP Morgan Term Loan B [Member] | London Interbank Offered Rate (LIBOR) [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Interest rate margin | 3.75% | |||||||||
Minimum [Member] | JP Morgan Term Loan B And Revolver [Member] | Base Rate [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Interest rate margin | 1.00% | |||||||||
Minimum [Member] | JP Morgan Term Loan B And Revolver [Member] | London Interbank Offered Rate (LIBOR) [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Interest rate margin | 2.00% | |||||||||
Maximum [Member] | JP Morgan Term Loan B And Revolver [Member] | Base Rate [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Interest rate margin | 2.00% | |||||||||
Maximum [Member] | JP Morgan Term Loan B And Revolver [Member] | London Interbank Offered Rate (LIBOR) [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Interest rate margin | 3.00% |
Long-Term Debt (Long-Term Debt)
Long-Term Debt (Long-Term Debt) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2019 | |
Debt Instrument [Line Items] | |||
Long-term debt, beginning balance | $ 17,400 | ||
Payments and Retirements | (2,483) | ||
New Borrowings | 2,599 | ||
Long-term debt, ending balance | 17,400 | $ 17,400 | $ 17,516 |
Less: Debt Issuance Costs | (178) | (168) | |
Less: Debt Premium/(Discount) | (50) | (46) | |
Less: Current Portion | (814) | (994) | |
Total Long-Term Debt | 16,358 | $ 16,308 | |
Interest Rate | 8.72% | ||
Secured Debt [Member] | |||
Debt Instrument [Line Items] | |||
Long-term debt, beginning balance | 5,246 | ||
Payments and Retirements | (828) | ||
Long-term debt, ending balance | 5,246 | 5,246 | $ 5,711 |
Secured Debt [Member] | Parent Company [Member] | |||
Debt Instrument [Line Items] | |||
Long-term debt, beginning balance | 5,246 | ||
Payments and Retirements | (2,134) | ||
New Borrowings | 2,599 | ||
Long-term debt, ending balance | 5,246 | 5,246 | $ 5,711 |
Interest Rate | 7.24% | ||
Secured Debt [Member] | Subsidiaries [Member] | |||
Debt Instrument [Line Items] | |||
Long-term debt, beginning balance | 107 | ||
Payments and Retirements | (1) | ||
Long-term debt, ending balance | 107 | 107 | $ 106 |
Interest Rate | 8.36% | ||
Unsecured Debt [Member] | |||
Debt Instrument [Line Items] | |||
Long-term debt, beginning balance | 11,297 | ||
Long-term debt, ending balance | 11,297 | 11,297 | $ 10,949 |
Unsecured Debt [Member] | Parent Company [Member] | |||
Debt Instrument [Line Items] | |||
Long-term debt, beginning balance | 11,297 | ||
Payments and Retirements | (348) | ||
Long-term debt, ending balance | 11,297 | 11,297 | $ 10,949 |
Interest Rate | 9.62% | ||
Unsecured Debt [Member] | Subsidiaries [Member] | |||
Debt Instrument [Line Items] | |||
Long-term debt, beginning balance | 750 | ||
Long-term debt, ending balance | $ 750 | $ 750 | $ 750 |
Interest Rate | 6.90% |
Long-Term Debt (Schedule Of Uns
Long-Term Debt (Schedule Of Unsecured Debt) (Details) - USD ($) $ in Millions | 12 Months Ended | ||||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Mar. 15, 2019 | Mar. 19, 2018 | |
Debt Instrument [Line Items] | |||||
Principal Outstanding | $ 17,516 | $ 17,400 | |||
Term Loan Due 06/15/2024 [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt instrument, maturity date | Jun. 15, 2024 | ||||
Secured Debt [Member] | |||||
Debt Instrument [Line Items] | |||||
Principal Outstanding | $ 5,711 | 5,246 | |||
Secured Debt [Member] | Term Loan Due 3/31/20121 [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt instrument, maturity date | Mar. 31, 2021 | ||||
Principal Outstanding | $ 1,402 | ||||
Total debt weighted average of stated interest rate. | 5.28% | ||||
Secured Debt [Member] | Term Loan Due 10/12/20121 [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt instrument, maturity date | Oct. 12, 2021 | ||||
Principal Outstanding | $ 239 | ||||
Total debt weighted average of stated interest rate. | 7.405% | ||||
Secured Debt [Member] | Revolver Due 2/27/2024 [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt instrument, maturity date | Feb. 27, 2024 | ||||
Principal Outstanding | $ 749 | $ 275 | |||
Total debt weighted average of stated interest rate. | 4.76% | 5.28% | |||
Secured Debt [Member] | Term Loan Due 06/15/2024 [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt instrument, maturity date | Jun. 15, 2024 | ||||
Principal Outstanding | $ 1,699 | $ 1,716 | |||
Total debt weighted average of stated interest rate. | 5.55% | 6.28% | |||
Secured Debt [Member] | First Lien Notes Due 4/1/2027 [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt instrument, maturity date | Apr. 1, 2027 | ||||
Principal Outstanding | $ 1,650 | ||||
Total debt weighted average of stated interest rate. | 8.00% | 8.00% | |||
Secured Debt [Member] | Second Lien Notes Due 4/1/2026 [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt instrument, maturity date | Apr. 1, 2026 | ||||
Principal Outstanding | $ 1,600 | $ 1,600 | |||
Total debt weighted average of stated interest rate. | 8.50% | 8.50% | 8.50% | ||
Secured Debt [Member] | IDRB due 5/1/2030 [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt instrument, maturity date | May 1, 2030 | ||||
Principal Outstanding | $ 13 | $ 13 | |||
Total debt weighted average of stated interest rate. | 6.20% | 6.20% | |||
Secured Debt [Member] | Equipment Financings [Member] | |||||
Debt Instrument [Line Items] | |||||
Principal Outstanding | $ 1 | ||||
Total debt weighted average of stated interest rate. | 0.00% | ||||
Unsecured Debt [Member] | |||||
Debt Instrument [Line Items] | |||||
Principal Outstanding | $ 10,949 | $ 11,297 | |||
Unsecured Debt [Member] | Senior Notes Due 10/1/2018 [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt instrument, maturity date | Oct. 1, 2018 | ||||
Total debt weighted average of stated interest rate. | 8.125% | ||||
Unsecured Debt [Member] | Senior Note Due 3/15/2019 [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt instrument, maturity date | Mar. 15, 2019 | Mar. 15, 2019 | |||
Principal Outstanding | $ 348 | ||||
Total debt weighted average of stated interest rate. | 7.125% | ||||
Unsecured Debt [Member] | Senior Note Due 4/15/2020 [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt instrument, maturity date | Apr. 15, 2020 | ||||
Principal Outstanding | $ 172 | $ 172 | |||
Total debt weighted average of stated interest rate. | 8.50% | 8.50% | |||
Unsecured Debt [Member] | Senior Note Due 9/15/2020 [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt instrument, maturity date | Sep. 15, 2020 | Sep. 15, 2020 | |||
Principal Outstanding | $ 55 | $ 55 | |||
Total debt weighted average of stated interest rate. | 8.875% | 8.875% | |||
Unsecured Debt [Member] | Senior Note Due 7/1/2021 [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt instrument, maturity date | Jul. 1, 2021 | Jul. 1, 2021 | |||
Principal Outstanding | $ 89 | $ 89 | |||
Total debt weighted average of stated interest rate. | 9.25% | 9.25% | |||
Unsecured Debt [Member] | Senior Note Due 9/15/2021 [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt instrument, maturity date | Sep. 15, 2021 | Sep. 15, 2021 | |||
Principal Outstanding | $ 220 | $ 220 | |||
Total debt weighted average of stated interest rate. | 6.25% | 6.25% | |||
Unsecured Debt [Member] | Senior Note Due 4/15/2022 [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt instrument, maturity date | Apr. 15, 2022 | ||||
Principal Outstanding | $ 500 | $ 500 | |||
Total debt weighted average of stated interest rate. | 8.75% | 8.75% | |||
Unsecured Debt [Member] | Senior Note Due 9/15/2022 [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt instrument, maturity date | Sep. 15, 2022 | ||||
Principal Outstanding | $ 2,188 | $ 2,188 | |||
Total debt weighted average of stated interest rate. | 10.50% | 10.50% | |||
Unsecured Debt [Member] | Senior Note Due 1/15/2023 [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt instrument, maturity date | Jan. 15, 2023 | ||||
Principal Outstanding | $ 850 | $ 850 | |||
Total debt weighted average of stated interest rate. | 7.125% | 7.125% | |||
Unsecured Debt [Member] | Senior Note Due 4/15/2024 [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt instrument, maturity date | Apr. 15, 2024 | ||||
Principal Outstanding | $ 750 | $ 750 | |||
Total debt weighted average of stated interest rate. | 7.625% | 7.625% | |||
Unsecured Debt [Member] | Senior Note Due 1/15/2025 [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt instrument, maturity date | Jan. 15, 2025 | ||||
Principal Outstanding | $ 775 | $ 775 | |||
Total debt weighted average of stated interest rate. | 6.875% | 6.875% | |||
Unsecured Debt [Member] | Senior Note Due 9/15/2025 [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt instrument, maturity date | Sep. 15, 2025 | ||||
Principal Outstanding | $ 3,600 | $ 3,600 | |||
Total debt weighted average of stated interest rate. | 11.00% | 11.00% | |||
Unsecured Debt [Member] | Debentures Due 11/1/2025 [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt instrument, maturity date | Nov. 1, 2025 | ||||
Principal Outstanding | $ 138 | $ 138 | |||
Total debt weighted average of stated interest rate. | 7.00% | 7.00% | |||
Unsecured Debt [Member] | Debentures Due 8/15/2026 [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt instrument, maturity date | Aug. 15, 2026 | ||||
Principal Outstanding | $ 2 | $ 2 | |||
Total debt weighted average of stated interest rate. | 6.80% | 6.80% | |||
Unsecured Debt [Member] | Senior Note Due 1/15/2027 [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt instrument, maturity date | Jan. 15, 2027 | ||||
Principal Outstanding | $ 346 | $ 346 | |||
Total debt weighted average of stated interest rate. | 7.875% | 7.875% | |||
Unsecured Debt [Member] | Senior Note Due 8/15/2031 [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt instrument, maturity date | Aug. 15, 2031 | ||||
Principal Outstanding | $ 945 | $ 945 | |||
Total debt weighted average of stated interest rate. | 9.00% | 9.00% | |||
Unsecured Debt [Member] | Debentures Due 10/1/2034 [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt instrument, maturity date | Oct. 1, 2034 | ||||
Principal Outstanding | $ 1 | $ 1 | |||
Total debt weighted average of stated interest rate. | 7.68% | 7.68% | |||
Unsecured Debt [Member] | Debentures Due 7/1/2035 [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt instrument, maturity date | Jul. 1, 2035 | ||||
Principal Outstanding | $ 125 | $ 125 | |||
Total debt weighted average of stated interest rate. | 7.45% | 7.45% | |||
Unsecured Debt [Member] | Debentures Due 10/1/2046 [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt instrument, maturity date | Oct. 1, 2046 | ||||
Principal Outstanding | $ 193 | $ 193 | |||
Total debt weighted average of stated interest rate. | 7.05% | 7.05% | |||
Secured Subsidiary Debt [Member] | |||||
Debt Instrument [Line Items] | |||||
Principal Outstanding | $ 106 | $ 107 | |||
Secured Subsidiary Debt [Member] | Debentures Due 11/15/2031 [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt instrument, maturity date | Nov. 15, 2031 | ||||
Principal Outstanding | $ 100 | $ 100 | |||
Total debt weighted average of stated interest rate. | 8.50% | 8.50% | |||
Secured Subsidiary Debt [Member] | RUS Loan Contracts Due 1/3/2028 [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt instrument, maturity date | Jan. 3, 2028 | ||||
Principal Outstanding | $ 6 | $ 7 | |||
Total debt weighted average of stated interest rate. | 6.154% | 6.154% | |||
Unsecured Subsidiary Debt [Member] | |||||
Debt Instrument [Line Items] | |||||
Principal Outstanding | $ 750 | $ 750 | |||
Unsecured Subsidiary Debt [Member] | Debentures Due 5/15/2027 | |||||
Debt Instrument [Line Items] | |||||
Debt instrument, maturity date | May 15, 2027 | ||||
Principal Outstanding | $ 200 | $ 200 | |||
Total debt weighted average of stated interest rate. | 6.75% | 6.75% | |||
Unsecured Subsidiary Debt [Member] | Debentures Due 2/1/2028 [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt instrument, maturity date | Feb. 1, 2028 | ||||
Principal Outstanding | $ 300 | $ 300 | |||
Total debt weighted average of stated interest rate. | 6.86% | 6.86% | |||
Unsecured Subsidiary Debt [Member] | Debentures Due 2/15/2028 [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt instrument, maturity date | Feb. 15, 2028 | ||||
Principal Outstanding | $ 200 | $ 200 | |||
Total debt weighted average of stated interest rate. | 6.73% | 6.73% | |||
Unsecured Subsidiary Debt [Member] | Debentures Due 10/15/2029 [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt instrument, maturity date | Oct. 15, 2029 | ||||
Principal Outstanding | $ 50 | $ 50 | |||
Total debt weighted average of stated interest rate. | 8.40% | 8.40% | |||
Senior Unsecured Debt [Member] | Senior Note Due 3/15/2019 [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt instrument, maturity date | Mar. 15, 2019 | ||||
Total debt weighted average of stated interest rate. | 7.125% | 7.125% | |||
Senior Unsecured Debt [Member] | Senior Note Due 4/15/2020 [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt instrument, maturity date | Apr. 15, 2020 | ||||
Total debt weighted average of stated interest rate. | 8.50% | ||||
Senior Unsecured Debt [Member] | Senior Note Due 9/15/2020 [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt instrument, maturity date | Sep. 15, 2020 | ||||
Total debt weighted average of stated interest rate. | 8.875% | ||||
Senior Unsecured Debt [Member] | Senior Note Due 7/1/2021 [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt instrument, maturity date | Jul. 1, 2021 | ||||
Total debt weighted average of stated interest rate. | 9.25% | ||||
Senior Secured Debt, Senior Unsecured Debt And Subsidiary Debentures [Member] | |||||
Debt Instrument [Line Items] | |||||
Principal Outstanding | $ 17,516 | $ 17,400 | |||
Total debt weighted average of stated interest rate. | 8.486% | 8.411% | |||
JP Morgan Term Loan B [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt instrument, maturity date | Jun. 15, 2024 |
Long-Term Debt (Debt Maturities
Long-Term Debt (Debt Maturities By Year) (Details) $ in Millions | Dec. 31, 2019USD ($) |
Long-Term Debt [Abstract] | |
Principal Payments 2020 | $ 245 |
Principal Payments 2021 | 327 |
Principal Payments 2022 | 2,706 |
Principal Payments 2023 | 868 |
Principal Payments 2024 | 2,380 |
Principal Payments Thereafter | $ 10,241 |
Restructuring And Other Charg_3
Restructuring And Other Charges (Narrative) (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | ||
Sep. 30, 2019 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Restructuring And Other Charges [Abstract] | ||||
Restructuring Reserve | $ 15 | $ 18 | $ 25 | |
Severance Costs | 38 | 12 | 68 | |
Defined Benefit Plan, Special termination Benefits cost | 44 | 5 | ||
Other restructuring costs | 40 | 9 | ||
Restructuring Charges | 168 | 35 | $ 82 | |
Transformation costs | 46 | 23 | ||
Payment of restructuring costs | $ 30 | |||
Restructuring expenses | $ 168 | $ 35 |
Restructuring And Other Charg_4
Restructuring And Other Charges (Changes In Restructuring Reserve) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Restructuring And Other Charges [Abstract] | |||
Restructuring Reserve, Beginning Balance | $ 18 | $ 25 | |
Severance costs | 38 | 12 | $ 68 |
Transformation initiative costs | 46 | 23 | |
Other restructuring costs | 40 | 9 | |
Cash payments during the period | (127) | (42) | |
Restructuring Reserve, Ending Balance | $ 15 | $ 18 | $ 25 |
Leases (Narrative) (Details)
Leases (Narrative) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Leases [Line Items] | |||
Option to terminate leases, Lessee | 1 year | ||
Option to terminate leases, Lessor | 1 year | ||
Lease revenue | $ 70 | ||
Rental expense | $ 102 | $ 106 | |
Poles [Member] | |||
Leases [Line Items] | |||
Rental expense | $ 55 | $ 56 | |
Accounting Standards Update 2016-02 [Member] | |||
Leases [Line Items] | |||
Cumulative-effect adjustment | 11 | ||
Increase of accumulated deficit | 15 | ||
Accounting Standards Update 2018-11 [Member] | |||
Leases [Line Items] | |||
Increase of accumulated deficit | $ 15 | ||
Minimum [Member] | |||
Leases [Line Items] | |||
Operating and finance lease terms, Lessee | 1 year | ||
Operator lease terms, Lessor | 1 year | ||
Maximum [Member] | |||
Leases [Line Items] | |||
Operating and finance lease terms, Lessee | 99 years | ||
Operator lease terms, Lessor | 99 years |
Leases (Effect Of The Adoption
Leases (Effect Of The Adoption Of ASC 842) (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Jan. 02, 2019 | Dec. 31, 2018 |
Error Corrections and Prior Period Adjustments Restatement [Line Items] | |||
Other assets | $ 468 | $ 470 | $ 265 |
Other current liabilities | 375 | 426 | 394 |
Other liabilities | 412 | 439 | 281 |
Deferred income taxes | 462 | 1,113 | 1,109 |
Accumulated deficit | (8,573) | (2,741) | (2,752) |
Operating right-of-use assets | 204 | ||
Current operating lease liabilities | 44 | ||
Noncurrent operating lease liabilities | $ 167 | ||
Previously Reported [Member] | |||
Error Corrections and Prior Period Adjustments Restatement [Line Items] | |||
Other assets | 265 | ||
Other current liabilities | 394 | ||
Other liabilities | 281 | ||
Deferred income taxes | 1,109 | ||
Accumulated deficit | $ (2,752) | ||
Other Current Liabilities [Member] | |||
Error Corrections and Prior Period Adjustments Restatement [Line Items] | |||
Deferred gain on sale of property | 14 | ||
Accounting Standards Update 2016-02 [Member] | |||
Error Corrections and Prior Period Adjustments Restatement [Line Items] | |||
Other assets | 205 | ||
Other current liabilities | 32 | ||
Other liabilities | 158 | ||
Deferred income taxes | 4 | ||
Accumulated deficit | 11 | ||
Operating right-of-use assets | 205 | ||
Current operating lease liabilities | 46 | ||
Noncurrent operating lease liabilities | 168 | ||
Accounting Standards Update 2016-02 [Member] | Accumulated Deficit [Member] | |||
Error Corrections and Prior Period Adjustments Restatement [Line Items] | |||
Deferred gain on sale of property | 15 | ||
Tax effect on the gain of sale of property | 4 | ||
Accounting Standards Update 2016-02 [Member] | Other Noncurrent Liabilities [Member] | |||
Error Corrections and Prior Period Adjustments Restatement [Line Items] | |||
Deferred rent | 9 | ||
Accounting Standards Update 2016-02 [Member] | Other Noncurrent Liabilities [Member] | Previously Reported [Member] | |||
Error Corrections and Prior Period Adjustments Restatement [Line Items] | |||
Deferred gain on sale of property | 1 | ||
Accounting Standards Update 2016-02 [Member] | Deferred Tax Liabilities Noncurrent [Member] | |||
Error Corrections and Prior Period Adjustments Restatement [Line Items] | |||
Deferred gain on sale of property | $ 15 |
Leases (Components Of Lease Cos
Leases (Components Of Lease Cost) (Details) $ in Millions | 12 Months Ended |
Dec. 31, 2019USD ($) | |
Leases [Abstract] | |
Amortization of right-of-use assets | $ 19 |
Interest on lease liabilities | 15 |
Finance lease cost | 34 |
Operating lease cost | 79 |
Sublease income | (11) |
Total Lease cost | 102 |
Short-term lease cost | 3 |
Variable lease cost | $ 6 |
Leases (Supplemental Balance Sh
Leases (Supplemental Balance Sheet Information Related To Leases) (Details) $ in Millions | Dec. 31, 2019USD ($) |
Leases [Abstract] | |
Operating right-of-use assets | $ 204 |
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List] | us-gaap:OtherAssetsNoncurrent |
Finance right-of-use assets | $ 167 |
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List] | us-gaap:PropertyPlantAndEquipmentNet |
Operating lease liabilities | $ 211 |
Finance lease liabilities | $ 167 |
Operating leases, Weighted-average remaining lease term | 7 years 6 months 14 days |
Operating leases, Weighted-average discount rate | 8.25% |
Finance lease, Weighted-average remaining lease term | 9 years 1 month 6 days |
Finance lease, Weighted-average discount rate | 7.98% |
Finance lease liabilities, Current | $ 25 |
Finance Lease, Liability, Current, Statement of Financial Position [Extensible List] | us-gaap:OtherLiabilitiesCurrent |
Financed lease liabilities, Noncurrent | $ 142 |
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List] | us-gaap:OtherLiabilitiesNoncurrent |
Current operating lease liabilities | $ 44 |
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List] | us-gaap:OtherLiabilitiesCurrent |
Noncurrent operating lease liabilities | $ 167 |
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List] | us-gaap:OtherLiabilitiesNoncurrent |
Leases (Supplemental Cash Flow
Leases (Supplemental Cash Flow Information Related To Leases) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Leases [Abstract] | |||
Operating cash flows provided by operating leases | $ 70 | ||
Operating cash flows used by operating leases | (76) | ||
Operating cash flows used by finance leases | (15) | ||
Financing cash flows used by finance leases | (35) | $ (36) | $ (42) |
Right-of-use assets obtained in exchange for lease liabilities, Operating leases | 42 | ||
Right-of-use assets obtained in exchange for lease liabilities, Finance leases | $ 34 |
Leases (Maturity Analysis For O
Leases (Maturity Analysis For Operating and Finance Lease Liabilities) (Details) $ in Millions | Dec. 31, 2019USD ($) |
Lessee, Operating Lease, Liability, Payment, Due [Abstract] | |
Present value of lease liabilities | $ 211 |
Finance Lease, Liability, Payment, Due [Abstract] | |
Present value of lease liabilities | 167 |
Northwest Operations [Member] | |
Lessee, Operating Lease, Liability, Payment, Due [Abstract] | |
Present value of lease liabilities | 15 |
Finance Lease, Liability, Payment, Due [Abstract] | |
Present value of lease liabilities | 28 |
Prior To Reclass To Assets Held-for-sale [Member] | |
Lessee, Operating Lease, Liability, Payment, Due [Abstract] | |
2020 | 50 |
2021 | 45 |
2022 | 42 |
2023 | 39 |
2024 | 34 |
Thereafter | 88 |
Total lease payments | 298 |
Less: imputed interest | (72) |
Present value of lease liabilities | 226 |
Finance Lease, Liability, Payment, Due [Abstract] | |
2020 | 44 |
2021 | 38 |
2022 | 33 |
2023 | 29 |
2024 | 21 |
Thereafter | 102 |
Total lease payments | 267 |
Less: imputed interest | (72) |
Present value of lease liabilities | $ 195 |
Leases (Maturity Analysis For_2
Leases (Maturity Analysis For Operating Leases From Customers) (Details) $ in Millions | Dec. 31, 2019USD ($) |
Leases [Abstract] | |
2020 | $ 11 |
2021 | 10 |
2022 | 10 |
2023 | 10 |
2024 | 1 |
Total lease payments from customers | $ 42 |
Investment And Other Income, _3
Investment And Other Income, Net (Components Of Investment And Other Income, Net) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Investment And Other Income, Net [Abstract] | |||
Interest and dividend income | $ 9 | $ 6 | $ 6 |
Pension and OPEB benefit (costs) | (42) | 10 | (2) |
All other, net | (4) | (3) | (3) |
Total investment and other income (loss), net | $ (37) | $ 13 | $ 1 |
Capital Stock (Narrative) (Deta
Capital Stock (Narrative) (Details) - USD ($) $ / shares in Units, $ in Millions | Jul. 02, 2018 | Jun. 29, 2018 | Jun. 24, 2015 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2019 | Jul. 10, 2017 | Dec. 31, 2016 | Jun. 30, 2015 |
Class of Stock [Line Items] | |||||||||
Common stock, Shares authorized | 175,000,000 | 175,000,000 | 175,000,000 | ||||||
Common stock, Shares issued | 106,025,000 | 106,025,000 | 80,000,000 | ||||||
Common stock, Shares outstanding | 105,536,000 | 105,131,000 | 79,000,000 | ||||||
Proceeds from Issuance of Preferred Stock and Preference Stock | $ 1,866 | ||||||||
Preferred dividends | $ 54 | $ 107 | $ 214 | ||||||
Class of stock conversion, rate | 1.3333 | ||||||||
Series A Preferred Stock [Member] | |||||||||
Class of Stock [Line Items] | |||||||||
Preferred stock, Shares authorized | 19,250,000 | ||||||||
Preferred stock, Shares issued | 0 | ||||||||
Preferred stock, Shares outstanding | 0 | ||||||||
Shares Issued, Price Per Share | $ 100 | ||||||||
Preferred Stock, Dividend Rate, Percentage | 11.125% | ||||||||
Preferred Stock, Par or Stated Value Per Share | $ 0.01 | ||||||||
Common Stock [Member] | |||||||||
Class of Stock [Line Items] | |||||||||
Common stock, Shares outstanding | 106,025,000 | 79,532,000 | 106,025,000 | 79,532,000 | |||||
Shares issued in stock conversion | 25,529,000 | 25,529,000 |
Stock Plans (Narrative) (Detail
Stock Plans (Narrative) (Details) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019USD ($)ShareBasedCompensationPlanItemshares | Dec. 31, 2018USD ($)shares | Dec. 31, 2017USD ($)shares | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Number of stock-based compensation plan under which grants were made | ShareBasedCompensationPlan | 3 | ||
Number of stock-based compensation plan under which grants were not made | ShareBasedCompensationPlan | 2 | ||
2017 EIP [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Plan authorization period | 10 years | ||
EIP Plans [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Shares authorized for grant under the plans (in shares) | shares | 5,667,000 | ||
Shares available for grant under the plan (in shares) | shares | 3,198,000 | ||
Performance Shares [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Expense recognized during the period | $ 4 | $ 5 | $ 1 |
Performance Shares | |||
Initial period over which target number of performance shares are awarded | 90 days | ||
Measurement period | 3 years | ||
Restricted Stock [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Expense recognized during the period | $ 11 | 13 | 18 |
Restricted Stock | |||
Remaining unrecognized compensation cost associated with unvested restricted stock awards | $ 4 | ||
Weighted average period over which unvested restricted stock awards unrecognized compensation cost is expected to be recognized (in years) | 1 year | ||
Stock Options [Member] | 2017 EIP [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Vesting period | 4 years | ||
Director Plans [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Expense recognized during the period | $ 1 | $ (1) | $ (5) |
Non Employee Directors Compensation Plans | |||
Plan units earned during the period (in shares) | shares | 155,045 | 183,791 | 94,034 |
Number of directors participating in the plan during the period | Item | 13 | ||
Cash compensation | $ 4 | $ 1 | $ 1 |
Stock Plans (LTIP Target Perfor
Stock Plans (LTIP Target Performance Shares) (Details) - Performance Shares [Member] - shares shares in Thousands | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Balance at beginning of period (in shares) | 497 | 306 | 190 |
LTIP target performance shares granted | 284 | 211 | |
LTIP target performance shares earned | (381) | (18) | (41) |
LTIP target performance shares forfeited | (20) | (75) | (54) |
Balance at end of period (in shares) | 96 | 497 | 306 |
Stock Plans (Restricted Shares
Stock Plans (Restricted Shares Outstanding) (Details) - Restricted Stock [Member] - USD ($) $ / shares in Units, shares in Thousands, $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Balance at beginning of period (in shares) | 1,858 | 633 | 549 |
Shares granted (in shares) | 105 | 2,023 | 454 |
Shares vested (in shares) | (1,039) | (221) | (240) |
Shares forfeited (in shares) | (24) | (577) | (130) |
Balance at end of period (in shares) | 900 | 1,858 | 633 |
Balance at beginning of period (in dollars per shares) | $ 16.02 | $ 58.63 | $ 78 |
Restricted stock granted (in dollars per shares) | 2 | 8.26 | 47.77 |
Restricted stock vested (in dollars per shares) | 19.05 | 66.82 | 80.86 |
Restricted stock forfeited (in dollars per shares) | 28.30 | 16.47 | 60.92 |
Balance at end of period (in dollars per shares) | $ 10.57 | $ 16.02 | $ 58.63 |
Balance at beginning of period | $ 4 | $ 4 | $ 28 |
Restricted stock granted | 5 | 3 | |
Restricted stock vested | (1) | (1) | 2 |
Balance at end of period | $ 1 | $ 4 | $ 4 |
Income Taxes (Narrative) (Detai
Income Taxes (Narrative) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Income Tax Contingency [Line Items] | |||
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Impairment Losses, Amount | $ 524 | $ 72 | $ 608 |
Valuation allowance | 605 | 497 | |
Effect of expiration of statute of limitations during next twelve months | 0 | ||
Gross tax liability for tax positions that may not be sustained under a more likely than not threshold | 12 | ||
Expected income refunds | 1 | ||
Income taxes paid | 4 | $ 4 | |
Research Tax Credit Carryforward [Member] | |||
Income Tax Contingency [Line Items] | |||
Tax Credit Carryforward, Amount | $ 21 | ||
Shareholder's Right Plan [Member] | |||
Income Tax Contingency [Line Items] | |||
Beneficial ownership | 4.90% | ||
State and Local Jurisdiction [Member] | |||
Income Tax Contingency [Line Items] | |||
Tax Credit Carryforward, Amount | $ 36 | ||
Operating loss carryforward | $ 9,800 | ||
Tax credit expiration year | 2039 | ||
Internal Revenue Service (IRS) [Member] | |||
Income Tax Contingency [Line Items] | |||
Operating loss carryforward | $ 1,600 | ||
Tax credit expiration year | 2036 | ||
Internal Revenue Service (IRS) [Member] | Indefinite Tax Period [Member] | |||
Income Tax Contingency [Line Items] | |||
Operating loss carryforward | $ 202 | ||
Minimum [Member] | State and Local Jurisdiction [Member] | |||
Income Tax Contingency [Line Items] | |||
Tax credit expiration year | 2020 | ||
Minimum [Member] | Internal Revenue Service (IRS) [Member] | |||
Income Tax Contingency [Line Items] | |||
Tax credit expiration year | 2034 | ||
Maximum [Member] | State and Local Jurisdiction [Member] | |||
Income Tax Contingency [Line Items] | |||
Tax credit expiration year | 2023 | ||
Maximum [Member] | Internal Revenue Service (IRS) [Member] | |||
Income Tax Contingency [Line Items] | |||
Tax credit expiration year | 2039 |
Income Taxes (Reconciliation Of
Income Taxes (Reconciliation Of Provision For Income Taxes) (Details) | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Income Taxes [Abstract] | |||
Consolidated tax provision at federal statutory rate | 21.00% | 21.00% | 35.00% |
State income tax provisions, net of federal income tax benefit | 2.60% | 1.60% | 1.70% |
Tax reserve adjustment | 0.10% | 0.10% | |
Changes in certain deferred tax balances | (2.30%) | (3.50%) | (0.40%) |
Goodwill impairment | (11.80%) | (10.40%) | (19.10%) |
Share-based payments | (0.10%) | (0.50%) | |
Federal research and development credit | 0.10% | 0.10% | |
Deferred Tax Remeasurement - 2017 Tax Reform | 0.60% | 26.10% | |
All other, net | (0.20%) | (0.10%) | |
Effective tax rate | 9.40% | 8.80% | 43.40% |
Income Taxes (Components Of Net
Income Taxes (Components Of Net Deferred Income Tax Liability (Asset) (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Deferred income tax liabilities [Abstract] | ||
Property, plant and equipment basis differences | $ 2,184 | $ 2,182 |
Intangibles | 18 | |
Deferred revenue/expense | 65 | 66 |
Other, net | 56 | |
Gross deferred income tax liability | 2,305 | 2,266 |
Deferred income tax assets [Abstract] | ||
Pension liability | 256 | 209 |
Intangibles | 665 | |
Tax operating loss carryforward | 898 | 1,027 |
Employee benefits | 184 | 176 |
Interest expense deduction limitation carryforward | 238 | 104 |
Accrued expenses | 37 | 41 |
Lease obligations | 92 | 33 |
Tax credit | 39 | 37 |
Allowance for doubtful accounts | 32 | 26 |
Other, net | 7 | 1 |
Gross deferred income tax asset | 2,448 | 1,654 |
Less: Valuation allowance | (605) | (497) |
Net deferred income tax asset | 1,843 | 1,157 |
Net deferred income tax liability | $ 462 | $ 1,109 |
Income Taxes (Schedule Of Compo
Income Taxes (Schedule Of Components Of Income Tax Expense (Benefit)) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Current [Abstract] | |||
Federal | $ 1 | $ (1) | $ (4) |
State | 7 | 6 | 5 |
Total Current | 8 | 5 | 1 |
Deferred [Abstract] | |||
Federal | (606) | (77) | (1,312) |
State | (13) | 10 | (72) |
Total Deferred | (619) | (67) | (1,384) |
Total income tax benefit | (611) | (62) | (1,383) |
Income taxes charged (credited) to equity of Frontier [Abstract] | |||
Utilization of the benefits arising from restricted stock | (1) | ||
Deferred income taxes (benefits) arising from the recognition of additional pension/OPEB liability | 32 | (31) | 7 |
Total income taxes charged (credited) to equity of Frontier | 32 | (31) | 6 |
Total income tax benefit | $ (579) | $ (93) | $ (1,377) |
Income Taxes (Changes In The Ba
Income Taxes (Changes In The Balance Of Unrecognized Tax Benefits) (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Income Taxes [Abstract] | ||
Unrecognized tax benefits - beginning of year | $ 11 | $ 12 |
Gross increases - current year tax positions | 1 | |
Gross decreases - expired statute of limitations | (1) | |
Unrecognized tax benefits - end of year | $ 12 | $ 11 |
Net Loss Per Common Share (Narr
Net Loss Per Common Share (Narrative) (Details) - shares | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Stock Options [Member] | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Shares excluded from the computation of diluted earnings per share (in shares) | 1,334 | 1,334 | 1,334 |
Non-Employee Directors' Deferred Fee Plan and Equity Plan [Member] | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Shares excluded from the computation of diluted earnings per share (in shares) | 339,544 | 348,093 | 203,952 |
Preferred Stock [Member] | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Shares excluded from the computation of diluted earnings per share (in shares) | 19,250,000 |
Net Loss Per Common Share (Calc
Net Loss Per Common Share (Calculation Of Net Loss Per Common Share) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Net Loss Per Common Share [Abstract] | |||||||||||
Net loss attributable to Frontier common shareholders | $ (162) | $ (345) | $ (5,317) | $ (87) | $ (219) | $ (426) | $ (72) | $ (33) | $ (5,911) | $ (750) | $ (2,018) |
Less: Dividends paid on unvested restricted stock awards | (2) | ||||||||||
Total basic net loss attributable to Frontier common shareholders | (5,911) | (750) | (2,020) | ||||||||
Total diluted net loss attributable to Frontier common shareholders | $ (5,911) | $ (750) | $ (2,020) | ||||||||
Total weighted average shares and unvested restricted stock awards outstanding - basic (in shares) | 105,356 | 91,523 | 78,409 | ||||||||
Less: Weighted average unvested restricted stock awards | (1,291) | (1,840) | (673) | ||||||||
Total weighted average shares outstanding - basic | 104,065 | 89,683 | 77,736 | ||||||||
Basic net loss per share attributable to Frontier common shareholders | $ (56.80) | $ (8.37) | $ (25.99) | ||||||||
Total weighted average shares outstanding - diluted | 104,065 | 89,683 | 77,736 | ||||||||
Diluted net loss per share attributable to Frontier common shareholders | $ (56.80) | $ (8.37) | $ (25.99) |
Comprehensive Loss (Narrative)
Comprehensive Loss (Narrative) (Details) - Pension Settlement Cost [Member] - Pension Benefits [Member] - Reclassification out of Accumulated Other Comprehensive Income [Member] - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
Reclassifications, pretax | $ (57) | $ (41) | $ (83) |
Reclassifications, net of tax | $ (43) | $ 31 | $ 51 |
Comprehensive Loss (Accumulated
Comprehensive Loss (Accumulated Other Comprehensive Loss, Net Of Tax) (Details) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Balance, beginning | $ 1,600 | $ 2,274 | $ 4,519 | |
Net current-period other comprehensive income (loss) | (108) | (97) | 21 | |
Balance, ending | (4,394) | 1,600 | 2,274 | |
Accounting Standards Update 2018-02 [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Impact of adoption of new accounting principle | (79) | |||
Deferred Taxes On Pension And OPEB Costs [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Deferred tax items | 204 | 250 | 223 | $ 231 |
Defined Benefit Plans [Member] | Pension Benefits [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Balance, beginning | (489) | (345) | (403) | |
Other comprehensive income (loss) before reclassifications | (201) | (191) | (12) | |
Amounts reclassified from accumulated other comprehensive income (loss) | 89 | 47 | 70 | |
Net current-period other comprehensive income (loss) | (112) | (144) | 58 | |
Balance, ending | (684) | (489) | (345) | |
Defined Benefit Plans [Member] | Pension Benefits [Member] | Accounting Standards Update 2018-02 [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Impact of adoption of new accounting principle | (83) | |||
Defined Benefit Plans [Member] | Postretirement Costs [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Balance, beginning | 26 | (21) | 16 | |
Other comprehensive income (loss) before reclassifications | 17 | 51 | (31) | |
Amounts reclassified from accumulated other comprehensive income (loss) | (13) | (4) | (6) | |
Net current-period other comprehensive income (loss) | 4 | 47 | (37) | |
Balance, ending | 34 | 26 | (21) | |
Defined Benefit Plans [Member] | Postretirement Costs [Member] | Accounting Standards Update 2018-02 [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Impact of adoption of new accounting principle | 4 | |||
Accumulated Other Comprehensive Loss [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Balance, beginning | (463) | (366) | (387) | |
Other comprehensive income (loss) before reclassifications | (184) | (140) | (43) | |
Amounts reclassified from accumulated other comprehensive income (loss) | 76 | 43 | 64 | |
Net current-period other comprehensive income (loss) | (108) | (97) | 21 | |
Balance, ending | (650) | $ (463) | $ (366) | |
Accumulated Other Comprehensive Loss [Member] | Accounting Standards Update 2018-02 [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Impact of adoption of new accounting principle | $ (79) |
Comprehensive Loss (Reclassific
Comprehensive Loss (Reclassification Out Of AOCI) (Details) - Reclassification out of Accumulated Other Comprehensive Income [Member] - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Pension Benefits [Member] | Amortization Of Defined Benefit Cost Items [Member] | |||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||
Reclassifications, pretax | $ (115) | $ (65) | $ (113) |
Tax impact | 26 | 18 | 43 |
Reclassifications, net of tax | (89) | (47) | (70) |
Pension Benefits [Member] | Actuarial Gains (Losses) [Member] | |||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||
Reclassifications, pretax | (58) | (24) | (30) |
Pension Benefits [Member] | Pension Settlement Cost [Member] | |||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||
Reclassifications, pretax | (57) | (41) | (83) |
Reclassifications, net of tax | (43) | 31 | 51 |
Postretirement Costs [Member] | Amortization Of Defined Benefit Cost Items [Member] | |||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||
Reclassifications, pretax | 15 | 6 | 9 |
Tax impact | (2) | (2) | (3) |
Reclassifications, net of tax | 13 | 4 | 6 |
Postretirement Costs [Member] | Prior-Service Credits (Costs) [Member] | |||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||
Reclassifications, pretax | 11 | 9 | $ 9 |
Postretirement Costs [Member] | Actuarial Gains (Losses) [Member] | |||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||
Reclassifications, pretax | $ 4 | $ (3) |
Segment Information (Details)
Segment Information (Details) | 12 Months Ended |
Dec. 31, 2019segment | |
Segment Information [Abstract] | |
Number of operating regions | 1 |
Number of reportable segments | 1 |
Quarterly Financial Data (Sched
Quarterly Financial Data (Schedule Of Quarterly Financial Data) (Details) - USD ($) $ / shares in Units, $ in Millions | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Sep. 30, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Quarterly Financial Data [Abstract] | |||||||||||
Revenue | $ 1,942 | $ 1,997 | $ 2,067 | $ 2,101 | $ 2,124 | $ 2,126 | $ 2,162 | $ 2,199 | $ 8,107 | $ 8,611 | $ 9,128 |
Operating income (loss) | 220 | 26 | (5,459) | 339 | 127 | (33) | 367 | 366 | (4,873) | 827 | (1,483) |
Net loss attributable to Frontier common shareholders | $ (162) | $ (345) | $ (5,317) | $ (87) | $ (219) | $ (426) | $ (72) | $ (33) | $ (5,911) | $ (750) | $ (2,018) |
Basic and diluted net loss per share attributable to Frontier common shareholders | $ (1.55) | $ (3.31) | $ (51.07) | $ (0.84) | $ (2.12) | $ (4.11) | $ (0.92) | $ (0.44) | $ (56.80) | $ (8.37) | $ (25.99) |
Goodwill impairment | $ 5,725 | $ 641 | $ 2,748 | ||||||||
Goodwill impairment, After-tax | 5,201 | $ 572 | |||||||||
Loss on disposal of Northwest Operations | 446 | ||||||||||
Loss on disposal of Northwest Operations, After-tax | $ 446 |
Retirement Plans (Narrative) (D
Retirement Plans (Narrative) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Capitalization of pension and OPEB expense related to engineering and plant construction | $ 24 | $ 26 | $ 26 |
Contribution of Property | 37 | ||
Increase in plan assets | $ 382 | ||
Percentage of increase in pension plan | 16.00% | ||
Defined benefit plan, cash contributions by employer | $ 166 | ||
Accumulated benefit obligation | 3,646 | 3,106 | |
401(k) savings plan employer contributions | 44 | 45 | 48 |
Plan assets | 2,730 | $ 2,348 | |
Benefit payments | 300 | ||
Investment returns | 516 | ||
Special termination benefits | $ 44 | $ 5 | |
Pension Benefits [Member] | |||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Discount rate - used at year end to value obligation (in hundredths) | 3.40% | 4.30% | 3.70% |
Expected long-term rate of return on plan assets (in hundredths) | 7.50% | 7.50% | 7.50% |
Expected Long Term Rate Of Return On Plan Assets In Future Year In Hundredths | 7.50% | ||
Expected amortization of unrecognized loss | $ 70 | ||
Defined Benefit Plan, Settlements, Benefit Obligation | 235 | $ 254 | |
Defined Benefit Plan, Settlements Benefit obligation threshold | 212 | ||
Pension settlement costs | 57 | 41 | $ 83 |
Contribution of Property | 37 | ||
Contributions to plans | $ 166 | 150 | |
Contributions to plan, net of differential | 75 | ||
Employer cash contributions | 113 | ||
Defined Benefit Plan, Funded Percentage | 73.00% | ||
Differential Payment Received | 131 | ||
Actuarial (gain) loss | $ 603 | (88) | |
Plan assets | 2,730 | 2,348 | 2,674 |
Benefit payments | 65 | 63 | |
Investment returns | (516) | 159 | |
Special termination benefits | 38 | $ 5 | |
Postretirement Benefits Other Than Pensions (OPEB) [Member] | |||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Expected amortization of prior service credit | (32) | ||
Expected amortization of unrecognized loss | (5) | ||
Contributions to plans | $ 40 | 31 | |
Percentage of increased medical cost trend rates | 1.00% | ||
Percentage of decreased medical cost trend rates | 1.00% | ||
Increase (decrease) in accumulated benefit obligation for plan amendment | $ 149 | ||
Actuarial (gain) loss | $ 129 | (79) | |
Annual rate of increase in the per-capita cost of covered medical benefits (in hundredths) | 6.50% | ||
Annual rate of increase in the per-capita cost of covered medical benefits in 2025 (in hundredths) | 5.00% | ||
Effect on total of service and interest cost components, 1 percentage point increase | $ 1 | ||
Effect on postretirement benefit obligation, 1 percentage point increase | 18 | ||
Effect on total of service and interest cost components, 1 percentage point decrease | (1) | ||
Effect on postretirement benefit obligation, 1 percentage point decrease | (19) | ||
Benefit payments | 47 | $ 38 | |
Special termination benefits | $ 6 | ||
Postretirement Benefits Other Than Pensions (OPEB) [Member] | Minimum [Member] | |||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Discount rate - used at year end to value obligation (in hundredths) | 3.40% | 4.30% | 3.70% |
Postretirement Benefits Other Than Pensions (OPEB) [Member] | Maximum [Member] | |||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Discount rate - used at year end to value obligation (in hundredths) | 3.50% | 4.40% | 3.80% |
Fixed Income Securities [Member] | |||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Target asset allocation | 40.00% | ||
Equity [Member] | |||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Target asset allocation | 60.00% |
Retirement Plans (Projected Ben
Retirement Plans (Projected Benefit Obligation, Fair Values Of Plan Assets And Amounts Recognized In The Balance Sheet) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Change in projected benefit obligation (PBO) [Roll Forward] | |||
Benefits paid | $ (300) | ||
Change in plan assets [Roll Forward] | |||
Fair value of plan assets at beginning of year | 2,348 | ||
Actual return on plan assets | (516) | ||
Fair value of plan assets at end of year | 2,730 | $ 2,348 | |
Amounts recognized in the consolidated balance sheet [Abstract] | |||
Pension and other postretirement benefits - current | (43) | (39) | |
Pension and other postretirement benefits - noncurrent | (1,896) | (1,750) | |
Pension and other postretirement benefits - AHFS | (29) | ||
Pension Benefits [Member] | |||
Change in projected benefit obligation (PBO) [Roll Forward] | |||
PBO at beginning of year | 3,173 | 3,363 | |
Service cost | 82 | 90 | $ 97 |
Interest cost | 130 | 125 | 127 |
Actuarial (gain) loss | 603 | (88) | |
Benefits paid | (65) | (63) | |
Settlements | (235) | (254) | |
Special termination benefits | 38 | ||
PBO at end of year | 3,726 | 3,173 | 3,363 |
Change in plan assets [Roll Forward] | |||
Fair value of plan assets at beginning of year | 2,348 | 2,674 | |
Actual return on plan assets | 516 | (159) | |
Employer contribution | 166 | 150 | |
Settlements | (235) | (254) | |
Benefits paid | (65) | (63) | |
Fair value of plan assets at end of year | 2,730 | 2,348 | 2,674 |
Funded status | (996) | (825) | |
Amounts recognized in the consolidated balance sheet [Abstract] | |||
Pension and other postretirement benefits - noncurrent | (996) | (825) | |
Accumulated other comprehensive (gain) loss | 899 | 754 | 556 |
Postretirement Benefits Other Than Pensions (OPEB) [Member] | |||
Change in projected benefit obligation (PBO) [Roll Forward] | |||
PBO at beginning of year | 965 | 1,016 | |
Service cost | 20 | 21 | 21 |
Interest cost | 41 | 38 | 40 |
Plan participants' contributions | 7 | 7 | |
Actuarial (gain) loss | 129 | (79) | |
Benefits paid | (47) | (38) | |
Special termination benefits | 6 | ||
Plan change | (149) | ||
PBO at end of year | 972 | 965 | 1,016 |
Change in plan assets [Roll Forward] | |||
Plan participants' contributions | 7 | 7 | |
Employer contribution | 40 | 31 | |
Benefits paid | (47) | (38) | |
Funded status | (972) | (965) | |
Amounts recognized in the consolidated balance sheet [Abstract] | |||
Pension and other postretirement benefits - current | (43) | (39) | |
Pension and other postretirement benefits - noncurrent | (900) | (926) | |
Pension and other postretirement benefits - AHFS | (29) | ||
Accumulated other comprehensive (gain) loss | $ (45) | $ (41) | $ 33 |
Retirement Plans (Net Periodic
Retirement Plans (Net Periodic Benefit Cost) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Special termination benefits | $ 44 | $ 5 | |
Pension Benefits [Member] | |||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Service cost | 82 | $ 90 | 97 |
Interest cost on projected benefit obligation | 130 | 125 | 127 |
Expected return on plan assets | (172) | (192) | (186) |
Amortization of unrecognized gain (loss) | 58 | 24 | 30 |
Net periodic benefit cost | 98 | 47 | 68 |
Pension settlement costs | 57 | 41 | 83 |
Special termination benefits | 38 | 5 | |
Total benefit cost | 193 | 88 | 156 |
Postretirement Benefits Other Than Pensions (OPEB) [Member] | |||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Service cost | 20 | 21 | 21 |
Interest cost on projected benefit obligation | 41 | 38 | 40 |
Amortization of prior service credit | (11) | (9) | (9) |
Amortization of unrecognized gain (loss) | (4) | 3 | |
Net periodic benefit cost | 46 | 53 | 52 |
Special termination benefits | 6 | ||
Total benefit cost | $ 52 | $ 53 | $ 52 |
Retirement Plans (Weighted Aver
Retirement Plans (Weighted Average Asset Allocations, By Asset Category) (Details) | Dec. 31, 2019 | Dec. 31, 2018 |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||
Weighted average asset allocation (in hundredths) | 100.00% | 100.00% |
Equity [Member] | ||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||
Weighted average asset allocation (in hundredths) | 49.00% | 48.00% |
Debt Securities [Member] | ||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||
Weighted average asset allocation (in hundredths) | 39.00% | 40.00% |
Alternative Investments [Member] | ||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||
Weighted average asset allocation (in hundredths) | 12.00% | 12.00% |
Retirement Plans (Expected Bene
Retirement Plans (Expected Benefit Payments Over The Next Ten Years) (Details) - Pension Benefits [Member] $ in Millions | Dec. 31, 2019USD ($) |
Defined Benefit Plan, Estimated Future Benefit Payments [Abstract] | |
2020 | $ 296 |
2021 | 295 |
2022 | 286 |
2023 | 279 |
2024 | 277 |
2025 - 2029 | 1,308 |
Total | $ 2,741 |
Retirement Plans (Schedule Of A
Retirement Plans (Schedule Of Assumptions Used) (Details) | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Pension Benefits [Member] | |||
Defined Benefit Plan, Assumptions Used in Calculations [Abstract] | |||
Discount rate - used at year end to value obligation (in hundredths) | 3.40% | 4.30% | 3.70% |
Discount rate - used at beginning of year to compute annual cost (in hundredths) | 4.30% | 3.70% | 4.10% |
Expected long-term rate of return on plan assets (in hundredths) | 7.50% | 7.50% | 7.50% |
Rate of increase in compensation levels (in hundredths) | 2.00% | 2.00% | 2.50% |
Postretirement Benefits Other Than Pensions (OPEB) [Member] | Maximum [Member] | |||
Defined Benefit Plan, Assumptions Used in Calculations [Abstract] | |||
Discount rate - used at year end to value obligation (in hundredths) | 3.50% | 4.40% | 3.80% |
Discount rate - used at beginning of year to compute annual cost (in hundredths) | 4.40% | 3.80% | 4.30% |
Postretirement Benefits Other Than Pensions (OPEB) [Member] | Minimum [Member] | |||
Defined Benefit Plan, Assumptions Used in Calculations [Abstract] | |||
Discount rate - used at year end to value obligation (in hundredths) | 3.40% | 4.30% | 3.70% |
Discount rate - used at beginning of year to compute annual cost (in hundredths) | 4.30% | 3.70% | 4.10% |
Retirement Plans (Schedule Of E
Retirement Plans (Schedule Of Expected Benefit Payments For OPEB) (Details) $ in Millions | Dec. 31, 2019USD ($) |
OPEB, Gross Benefits [Member] | |
Defined Benefit Plan, Estimated Future Benefit Payments [Abstract] | |
2020 | $ 43 |
2021 | 49 |
2022 | 49 |
2023 | 48 |
2024 | 53 |
2025 - 2029 | 274 |
Total | 516 |
Medicare Part D Subsidy [Member] | |
Defined Benefit Plan, Estimated Future Benefit Payments [Abstract] | |
2025 - 2029 | 2 |
Total | 2 |
Postretirement Benefits Other Than Pensions (OPEB) [Member] | |
Defined Benefit Plan, Estimated Future Benefit Payments [Abstract] | |
2020 | 43 |
2021 | 49 |
2022 | 49 |
2023 | 48 |
2024 | 53 |
2025 - 2029 | 276 |
Total | $ 518 |
Retirement Plans (Net Periodi_2
Retirement Plans (Net Periodic Benefit Cost Not Yet Recognized) (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Pension Benefits [Member] | |||
Defined Benefit Plan [Abstract] | |||
Net actuarial loss | $ 899 | $ 754 | |
Total | 899 | 754 | $ 556 |
Postretirement Benefits Other Than Pensions (OPEB) [Member] | |||
Defined Benefit Plan [Abstract] | |||
Net actuarial loss | 105 | (28) | |
Prior service credit | (150) | (13) | |
Total | $ (45) | $ (41) | $ 33 |
Retirement Plans (Amounts Recog
Retirement Plans (Amounts Recognized As A Component Of AOCI) (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Pension Benefits [Member] | ||
Pension and Other Postretirement Benefit Plans, Accumulated Other Comprehensive Income (Loss), before Tax [Abstract] | ||
Accumulated other comprehensive (gain) loss at beginning of year | $ 754 | $ 556 |
Net actuarial (gain) loss recognized during year | (58) | (24) |
Net actuarial (gain) loss occurring during year | 260 | 263 |
Settlement loss recognized | (57) | (41) |
Net amount recognized in comprehensive (loss) for the year | 145 | 198 |
Accumulated other comprehensive (gain) loss at end of year | 899 | 754 |
Postretirement Benefits Other Than Pensions (OPEB) [Member] | ||
Pension and Other Postretirement Benefit Plans, Accumulated Other Comprehensive Income (Loss), before Tax [Abstract] | ||
Accumulated other comprehensive (gain) loss at beginning of year | (41) | 33 |
Net actuarial (gain) loss recognized during year | 4 | (3) |
Prior service credit recognized during year | 11 | 9 |
Prior service credit occurring during year | (149) | |
Net actuarial (gain) loss occurring during year | 130 | (80) |
Net amount recognized in comprehensive (loss) for the year | (4) | (74) |
Accumulated other comprehensive (gain) loss at end of year | $ (45) | $ (41) |
Fair Value Of Financial Instr_3
Fair Value Of Financial Instruments (Narrative) (Details) - USD ($) | Dec. 31, 2019 | Dec. 31, 2018 |
Fair Value Of Financial Instruments [Abstract] | ||
Reclassifications of investments between Level 1, 2, or 3 | $ 0 | $ 0 |
Fair Value Of Financial Instr_4
Fair Value Of Financial Instruments (Pension Plan Assets Measured At Fair Value On Recurring Basis) (Details) - Pension Benefits [Member] - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investments at fair value | $ 1,501 | $ 1,344 |
Common/Collective Trusts | 1,177 | 1,031 |
Interest in Registered Investment Companies | 87 | |
Interest and Dividend Receivable | 6 | 6 |
Due from Broker for Securities Sold | 61 | 20 |
Receivable Associated with Insurance Contract | 7 | 7 |
Due to Broker for Securities Purchased | (109) | (60) |
Total Plan Assets, at Fair Value | 2,730 | 2,348 |
Cash and Cash Equivalents [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investments at fair value | 46 | 36 |
U.S. Government Obligations [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investments at fair value | 39 | 46 |
Corporate and Other Obligations [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investments at fair value | 547 | 425 |
Common Stock [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investments at fair value | 552 | 420 |
Preferred Stock [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investments at fair value | 4 | |
Interest in Registered Investment Companies [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investments at fair value | 150 | 262 |
Interest in Limited Partnerships and Limited Liability Corporations [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investments at fair value | 163 | 155 |
Fair Value, Inputs, Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investments at fair value | 752 | 718 |
Fair Value, Inputs, Level 1 [Member] | Cash and Cash Equivalents [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investments at fair value | 46 | 36 |
Fair Value, Inputs, Level 1 [Member] | Common Stock [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investments at fair value | 552 | 420 |
Fair Value, Inputs, Level 1 [Member] | Preferred Stock [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investments at fair value | 4 | |
Fair Value, Inputs, Level 1 [Member] | Interest in Registered Investment Companies [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investments at fair value | 150 | 262 |
Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investments at fair value | 586 | 471 |
Fair Value, Inputs, Level 2 [Member] | U.S. Government Obligations [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investments at fair value | 39 | 46 |
Fair Value, Inputs, Level 2 [Member] | Corporate and Other Obligations [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investments at fair value | 547 | 425 |
Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investments at fair value | 163 | 155 |
Fair Value, Inputs, Level 3 [Member] | Interest in Limited Partnerships and Limited Liability Corporations [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investments at fair value | 163 | 155 |
Fair Value Measured at Net Asset Value Per Share [Member] | Interest in Registered Investment Companies [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Investments at fair value | $ 87 | $ 131 |
Fair Value Of Financial Instr_5
Fair Value Of Financial Instruments (Changes In Fair Value Of Plan's Level 3 Assets) (Details) - Interest in Limited Partnerships and Limited Liability Corporations [Member] - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Balance, beginning of year | $ 155 | $ 115 |
Realized gains | 14 | 11 |
Unrealized gains (losses) | 8 | 3 |
Purchases | 37 | |
Sales and distributions | (14) | (11) |
Balance, end of year | $ 163 | $ 155 |
Fair Value Of Financial Instr_6
Fair Value Of Financial Instruments (Redemption Of The Plan's Level 3 Investments) (Details) - Interest in Limited Partnerships and Limited Liability Corporations [Member] $ in Millions | 12 Months Ended | ||
Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Fair Value | $ 163 | $ 155 | $ 115 |
MS IFHF SVP LP Cayman [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Fair Value | $ 1 | ||
Liquidation Period (in years) | 5 years | ||
RII World Timberfund, LLC [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Fair Value | $ 5 | ||
Liquidation Period (in years) | 2 years | ||
E. Casino Road, LLC (Member) | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Fair Value | $ 16 | ||
E. Casino Road, LLC (Member) | Measurement Input, Cap Rate [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Capitalization Rate | 7 | ||
Comm Drive, LLC [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Fair Value | $ 10 | ||
Comm Drive, LLC [Member] | Measurement Input, Cap Rate [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Capitalization Rate | 7.75 | ||
CTE Drive, LLC [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Fair Value | $ 11 | ||
Oakbrook Parkway LLC [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Fair Value | $ 27 | ||
Oakbrook Parkway LLC [Member] | Measurement Input, Cap Rate [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Capitalization Rate | 7.75 | ||
West Jefferson, LLC [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Fair Value | $ 28 | ||
West Jefferson, LLC [Member] | Measurement Input, Cap Rate [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Capitalization Rate | 8.75 | ||
MacCorkle Ave SE, LLC [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Fair Value | $ 15 | ||
MacCorkle Ave SE, LLC [Member] | Measurement Input, Cap Rate [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Capitalization Rate | 8.50 | ||
S. Pike Road West, LLC [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Fair Value | $ 1 | ||
S. Pike Road West, LLC [Member] | Measurement Input, Cap Rate [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Capitalization Rate | 8.50 | ||
N. US 131, LLC [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Fair Value | $ 1 | ||
N. US 131, LLC [Member] | Measurement Input, Cap Rate [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Capitalization Rate | 9.50 | ||
E. Stockton Blvd, LLC [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Fair Value | $ 6 | ||
E. Stockton Blvd, LLC [Member] | Measurement Input, Cap Rate [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Capitalization Rate | 7.25 | ||
E. Lime Street, LLC [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Fair Value | $ 9 | ||
E. Lime Street, LLC [Member] | Measurement Input, Cap Rate [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Capitalization Rate | 9 | ||
N. Morgan Street, LLC [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Fair Value | $ 33 | ||
N. Morgan Street, LLC [Member] | Measurement Input, Cap Rate [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Capitalization Rate | 8.50 | ||
Minimum [Member] | CTE Drive, LLC [Member] | Measurement Input, Cap Rate [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Capitalization Rate | 9.5 | ||
Maximum [Member] | CTE Drive, LLC [Member] | Measurement Input, Cap Rate [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Capitalization Rate | 10 |
Fair Value Of Financial Instr_7
Fair Value Of Financial Instruments (Fair Value Of Long-Term Debt) (Details) - USD ($) $ in Millions | Dec. 31, 2019 | Dec. 31, 2018 |
Carrying Amount [Member] | ||
Long-term debt [Abstract] | ||
Total debt | $ 17,516 | $ 17,400 |
Fair Value [Member] | ||
Long-term debt [Abstract] | ||
Total debt | $ 12,026 | $ 12,756 |
Commitments And Contingencies_2
Commitments And Contingencies (Narrative) (Details) $ in Millions | 12 Months Ended |
Dec. 31, 2019USD ($)PropertyState | |
Regulatory Commitments [Abstract] | |
Number of states of operation | State | 29 |
Operating Leases [Abstract] | |
Term Of Lease Arrangements Lower Range | 1 year |
Term Of Lease Arrangements Upper Range | 99 years |
CAF Phase II [Member] | |
Regulatory Commitments [Abstract] | |
Annual support offered by the Federal Communications Commission | $ 332 |
Number of households to be serviced under regulatory funded programs | Property | 774,000 |
Number of states of operation | State | 29 |
Amount of annual USF frozen high-cost support | $ 198 |
CAF II, Four States [Member] | |
Regulatory Commitments [Abstract] | |
Annual support offered by the Federal Communications Commission | $ 19 |
Number of states of operation | Property | 4 |
Commitments and Contingencies_3
Commitments and Contingencies (Future Payments For Obligations Under Noncancelable Long Distance Contracts And Service Agreements) (Details) $ in Millions | Dec. 31, 2019USD ($) |
Commitments And Contingencies [Abstract] | |
2020 | $ 79 |
2021 | 34 |
2022 | 15 |
2023 | 6 |
2024 | 4 |
Thereafter | 6 |
Total | $ 144 |
Commitments and Contingencies_4
Commitments and Contingencies (Outstanding Performance Letters Of Credit) (Details) $ in Millions | Dec. 31, 2019USD ($) |
Line of Credit Facility [Line Items] | |
Line of credit, amount outstanding | $ 749 |
Letter of Credit [Member] | |
Line of Credit Facility [Line Items] | |
Line of credit, amount outstanding | 151 |
CNA [Member] | Letter of Credit [Member] | |
Line of Credit Facility [Line Items] | |
Line of credit, amount outstanding | 49 |
AIG Insurance [Member] | Letter of Credit [Member] | |
Line of Credit Facility [Line Items] | |
Line of credit, amount outstanding | 28 |
Zurich [Member] | Letter of Credit [Member] | |
Line of Credit Facility [Line Items] | |
Line of credit, amount outstanding | 73 |
All Other [Member] | Letter of Credit [Member] | |
Line of Credit Facility [Line Items] | |
Line of credit, amount outstanding | $ 1 |
Subsequent Events (Details)
Subsequent Events (Details) - USD ($) $ / shares in Units, $ in Millions | Mar. 16, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Subsequent Event [Line Items] | |||
Outstanding aggregate principal | $ 17,516 | $ 17,400 | |
Share price (in dollars per share) | $ 1 | ||
Number of consecutive business days bid price of common stock below minimum threshold | 30 days | ||
Grace period for compliance with Nasdaq minimum bid price requirement | 180 days | ||
Number of consecutive business days minimum bid price must exceed minimum threshold | 10 days | ||
Unsecured Debt [Member] | |||
Subsequent Event [Line Items] | |||
Outstanding aggregate principal | $ 10,949 | 11,297 | |
Unsecured Debt [Member] | Senior Note Due 9/15/2020 [Member] | |||
Subsequent Event [Line Items] | |||
Outstanding aggregate principal | $ 55 | $ 55 | |
Interest rate | 8.875% | 8.875% | |
Debt instrument, maturity date | Sep. 15, 2020 | Sep. 15, 2020 | |
Unsecured Debt [Member] | Senior Note Due 9/15/2022 [Member] | |||
Subsequent Event [Line Items] | |||
Outstanding aggregate principal | $ 2,188 | $ 2,188 | |
Interest rate | 10.50% | 10.50% | |
Debt instrument, maturity date | Sep. 15, 2022 | ||
Unsecured Debt [Member] | Senior Note Due 9/15/2025 [Member] | |||
Subsequent Event [Line Items] | |||
Outstanding aggregate principal | $ 3,600 | $ 3,600 | |
Interest rate | 11.00% | 11.00% | |
Debt instrument, maturity date | Sep. 15, 2025 | ||
Unsecured Debt [Member] | Senior Note Due 9/15/2021 [Member] | |||
Subsequent Event [Line Items] | |||
Outstanding aggregate principal | $ 220 | $ 220 | |
Interest rate | 6.25% | 6.25% | |
Debt instrument, maturity date | Sep. 15, 2021 | Sep. 15, 2021 | |
Subsequent Event [Member] | |||
Subsequent Event [Line Items] | |||
Deferred scheduled interest payments | $ 322 | ||
Debt repayment grace period | 60 days | ||
Subsequent Event [Member] | Minimum [Member] | |||
Subsequent Event [Line Items] | |||
Percentage of outstanding principal held by holders of the deferred payment senior notes | 25.00% |