Shenandoah Telecommunications Co (SHEN) Financial Statements (2024 and earlier)

Company Profile

Business Address PO BOX 459
EDINBURG, VA 22824
State of Incorp. VA
Fiscal Year End December 31
Industry (SIC) 4813 - Telephone Communications, Except Radiotelephone (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments45,95086,661198,084103,92986,86578,585
Cash and cash equivalents44,06184,344195,397101,65185,08678,585
Short-term investments1,8892,3172,6872,2781,779 
Receivables50,37052,19370,39373,84759,68971,495
Inventory, net of allowances, customer advances and progress billings    5,7285,2655,704
Inventory    5,7285,2655,704
Prepaid expense     11,24517,111
Capitalized contract cost2,8092,5024,4174,898 
Derivative instruments and hedges, assets   1,3824,930 
Disposal group, including discontinued operation22,622 1,133,294   
Other current assets1,2562,0181,1963,3522,049 
Other undisclosed current assets5,55522,9931,33145,89540,159 
Total current assets:128,562166,3671,408,715239,031210,202172,895
Noncurrent Assets
Operating lease, right-of-use asset53,85956,41450,387392,589
Property, plant and equipment687,553554,162440,427700,114701,359686,327
Long-term investments and receivables12,97113,66113,76912,38810,78811,472
Long-term investments12,97113,66113,76912,38810,78811,472
Intangible assets, net (including goodwill)81,51589,831106,759463,217512,526527,476
Goodwill    149,070146,497146,497
Intangible assets, net (excluding goodwill)81,51589,831106,759314,147366,029380,979
Deferred costs13,25910,29811,65053,35249,89113,690
Total noncurrent assets:849,157724,366622,9921,621,6601,274,5641,238,965
TOTAL ASSETS:977,719890,7332,031,7071,860,6911,484,7661,411,860
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities67,07952,84456,83264,76160,00252,034
Taxes payable 6,951   
Employee-related liabilities9,65316,41310,0759,4529,167
Accounts payable49,17328,54219,59940,29535,98728,953
Accrued liabilities17,90614,64913,86914,39114,56313,914
Deferred revenue12,42511,1288,5948,358
Debt648 688,46374,21720,61864,397
Disposal group, including discontinued operation 3,824 452,202   
Customer advances and deposits21,153
Contract with customer, liability7,919
Other undisclosed current liabilities12,4453,3181,970   
Total current liabilities:96,42167,2901,208,061147,33688,539137,584
Noncurrent Liabilities
Long-term debt and lease obligation74,30651,69246,095688,464749,624757,561
Long-term debt, excluding current maturities74,306  688,464749,624757,561
Liabilities, other than long-term debt, including:168,985181,168241,252555,469204,356166,493
Asset retirement obligations9,9329,6154,95536,91428,58421,211
Deferred income tax liabilities84,60086,014150,652136,451
Liability, pension and other postretirement and postemployment benefits3,7588,21614,64512,67511,51913,328
Other liabilities20,21825,63124,90516,99014,36415,293
Operating lease, liability50,47751,69246,095 
Other undisclosed liabilities, other than long-term debt  51,69246,095352,439149,889116,661
Total noncurrent liabilities:243,291232,860287,3471,243,933953,980924,054
Total liabilities:339,712300,1501,495,4081,391,2691,042,5191,061,638
Equity
Equity, attributable to parent638,007642,275582,394469,422442,247350,222
Common stock      44,787
Additional paid in capital57,45349,35147,31742,11047,456 
Accumulated other comprehensive income (loss)  (4,706)3088,2808,230
Retained earnings580,554592,924539,783427,004386,511297,205
Total equity:638,007642,275582,394469,422442,247350,222
Other undisclosed liabilities and equity  (51,692)(46,095)   
TOTAL LIABILITIES AND EQUITY:977,719890,7332,031,7071,860,6911,484,7661,411,860

Income Statement (P&L) ($ in thousands)

12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Revenues267,371245,239220,775633,906630,854611,991
Revenue, net611,991
Cost of revenue(173,242)(155,256)(88,203)  (211,507)
Cost of goods and services sold(107,546)(102,299)(88,203)  (211,507)
Gross profit:94,12989,983132,572633,906630,854400,484
Operating expenses (102,087)(92,413) (536,860)(537,608)(565,481)
Other undisclosed operating income (loss)  (133,719)  211,507
Operating income (loss):(7,958)(2,430)(1,147)97,04693,24646,510
Nonoperating income (expense)(1,348)8,6653,1873,4613,9884,420
Investment income, nonoperating     (275)1,014
Interest and debt expense (2,600) (29,468)(34,847)(38,237)
Other undisclosed income (loss) from continuing operations before equity method investments, income taxes     (275)564
Income (loss) from continuing operations before equity method investments, income taxes:(9,306)3,6352,04071,03962,11213,257
Other undisclosed income from continuing operations before income taxes 2,600    
Income (loss) from continuing operations before income taxes:(9,306)6,2352,04071,03962,11213,257
Income tax expense (benefit)9271,694586(16,104)(15,517)53,133
Income (loss) from continuing operations:(8,379)7,9292,62654,93546,59566,390
Income before gain (loss) on sale of properties:7,9292,62654,93546,59566,390
Net income (loss):(8,379)7,9292,62654,93546,59566,390
Other undisclosed net income attributable to parent  990,902124,097   
Net income (loss) available to common stockholders, diluted:(8,379)998,831126,72354,93546,59566,390

Comprehensive Income ($ in thousands)

12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Net income (loss):(8,379)7,9292,62654,93546,59566,390
Other comprehensive income (loss)  (658)1,6682,647 (522)
Comprehensive income (loss):(8,379)7,2714,29457,58246,59565,868
Other undisclosed comprehensive income (loss), net of tax, attributable to parent 996,266117,415(10,619)501,964
Comprehensive income (loss), net of tax, attributable to parent:(8,379)1,003,537121,70946,96346,64567,832

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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