$CCOI
COGENT COMMUNICATIONS HOLDINGS, INC.

2023 Q4 Form 10-Q Financial Statement

#000141057823002293 Filed on November 09, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3 2022 Q4
Revenue $272.1M $275.4M $152.0M
YoY Change 79.04% 83.62% 3.24%
Cost Of Revenue $174.5M $173.6M $56.97M
YoY Change 206.29% 203.38% 0.98%
Gross Profit $97.60M $101.8M $95.01M
YoY Change 2.73% 9.76% 4.64%
Gross Profit Margin 35.87% 36.97% 62.51%
Selling, General & Admin $81.27M $65.31M $43.89M
YoY Change 85.16% 66.97% 11.32%
% of Gross Profit 83.27% 64.13% 46.2%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $67.81M $86.73M $23.56M
YoY Change 187.76% 278.75% 4.42%
% of Gross Profit 69.47% 85.17% 24.8%
Operating Expenses $149.1M $65.31M $67.46M
YoY Change 121.0% 66.97% 8.81%
Operating Profit -$51.48M -$50.56M $27.55M
YoY Change -286.83% -279.95% -4.34%
Interest Expense -$5.783M $24.20M -$15.50M
YoY Change -62.69% 34.82% 42.03%
% of Operating Profit -56.26%
Other Income/Expense, Net -$254.0M $1.604M
YoY Change -712.21%
Pretax Income $179.8M -$70.35M $12.02M
YoY Change 1395.86% 899.52% -52.43%
Income Tax -$20.86M -$13.62M $11.17M
% Of Pretax Income -11.6% 92.91%
Net Earnings $200.2M -$56.70M $852.0K
YoY Change 23392.14% 608.13% -95.4%
Net Earnings / Revenue 73.56% -20.59% 0.56%
Basic Earnings Per Share -$1.20
Diluted Earnings Per Share $4.14 -$1.20 $0.02
COMMON SHARES
Basic Shares Outstanding 48.62M 48.88M 48.01M
Diluted Shares Outstanding 47.23M

Balance Sheet

Concept 2023 Q4 2023 Q3 2022 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $75.09M $109.7M $223.8M
YoY Change -66.44% -59.21% -29.98%
Cash & Equivalents $75.09M $109.7M $223.8M
Short-Term Investments
Other Short-Term Assets $119.3M $129.9M $98.01M
YoY Change 21.7% 28.45% 104.05%
Inventory
Prepaid Expenses
Receivables $135.5M $87.17M $44.12M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $513.6M $581.3M $365.9M
YoY Change 40.37% 40.57% -10.66%
LONG-TERM ASSETS
Property, Plant & Equipment $1.538B $1.618B $544.4M
YoY Change 182.46% 221.11% 18.9%
Goodwill
YoY Change
Intangibles $472.8M $54.36M
YoY Change
Long-Term Investments
YoY Change
Other Assets $23.44M $22.10M $18.24M
YoY Change 28.51% 27.1% 18.33%
Total Long-Term Assets $2.698B $2.380B $644.3M
YoY Change 318.77% 292.04% 12.05%
TOTAL ASSETS
Total Short-Term Assets $513.6M $581.3M $365.9M
Total Long-Term Assets $2.698B $2.380B $644.3M
Total Assets $3.212B $2.962B $1.010B
YoY Change 217.92% 190.16% 2.6%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $48.36M $29.37M $27.21M
YoY Change 77.73% 59.62% 128.2%
Accrued Expenses $120.5M $120.0M $63.89M
YoY Change 88.64% 78.38% 63.58%
Deferred Revenue
YoY Change
Short-Term Debt $71.89M $74.60M $0.00
YoY Change
Long-Term Debt Due $64.59M $63.20M $17.18M
YoY Change 275.94% 161.86% -3.65%
Total Short-Term Liabilities $373.3M $355.7M $120.3M
YoY Change 210.37% 192.47% 48.48%
LONG-TERM LIABILITIES
Long-Term Debt $1.366B $1.365B $1.231B
YoY Change 10.9% 13.04% 9.91%
Other Long-Term Liabilities $61.64M $79.44M $82.64M
YoY Change -25.41% -5.13% 85.25%
Total Long-Term Liabilities $61.64M $79.44M $82.64M
YoY Change -25.41% -5.13% 85.25%
TOTAL LIABILITIES
Total Short-Term Liabilities $373.3M $355.7M $120.3M
Total Long-Term Liabilities $61.64M $79.44M $82.64M
Total Liabilities $2.602B $2.520B $1.529B
YoY Change 70.2% 66.59% 12.61%
SHAREHOLDERS EQUITY
Retained Earnings $17.14M -$136.7M -$1.075B
YoY Change -101.59% -86.75% 18.1%
Common Stock $606.8M $598.5M $575.1M
YoY Change 5.51% 5.36% 4.99%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $609.6M $442.1M -$518.6M
YoY Change
Total Liabilities & Shareholders Equity $3.212B $2.962B $1.010B
YoY Change 217.92% 190.16% 2.6%

Cashflow Statement

Concept 2023 Q4 2023 Q3 2022 Q4
OPERATING ACTIVITIES
Net Income $200.2M -$56.70M $852.0K
YoY Change 23392.14% 608.13% -95.4%
Depreciation, Depletion And Amortization $67.81M $86.73M $23.56M
YoY Change 187.76% 278.75% 4.42%
Cash From Operating Activities -$48.70M -$52.50M $36.32M
YoY Change -234.07% -198.0% 0.94%
INVESTING ACTIVITIES
Capital Expenditures $43.61M $25.30M $19.59M
YoY Change 122.6% -205.54% -228.08%
Acquisitions
YoY Change
Other Investing Activities $103.7M $87.50M
YoY Change
Cash From Investing Activities $60.12M $62.10M -$19.59M
YoY Change -406.87% -359.06% 28.08%
FINANCING ACTIVITIES
Cash Dividend Paid $42.80M
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -64.73M -86.00M -68.30M
YoY Change -5.22% 63.82% 47.61%
NET CHANGE
Cash From Operating Activities -48.70M -52.50M 36.32M
Cash From Investing Activities 60.12M 62.10M -19.59M
Cash From Financing Activities -64.73M -86.00M -68.30M
Net Change In Cash -53.31M -76.40M -51.57M
YoY Change 3.38% 233.67% 101.58%
FREE CASH FLOW
Cash From Operating Activities -$48.70M -$52.50M $36.32M
Capital Expenditures $43.61M $25.30M $19.59M
Free Cash Flow -$92.31M -$77.80M $16.73M
YoY Change -651.68% -200.33% -67.37%

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COGENT COMMUNICATIONS HOLDINGS, INC.
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1170000
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
5154000
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-462000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
1039689000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
14357000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-33599000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
10063000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
1073288000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
4294000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
1073288000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
4294000
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
-605000
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
-17410000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
1072683000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-13116000
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
22.72
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.09
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
22.54
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.09
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
2.805
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
2.640
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
47234025
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
46759632
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
47624709
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
47097580
us-gaap Profit Loss
ProfitLoss
1073288000
us-gaap Profit Loss
ProfitLoss
4294000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
164403000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
68659000
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
986000
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
1144000
ccoi Business Combination Amortization Of Discount On Amount Due From Seller
BusinessCombinationAmortizationOfDiscountOnAmountDueFromSeller
-19138000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
20241000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
18174000
us-gaap Business Combination Bargain Purchase Gain Recognized Amount
BusinessCombinationBargainPurchaseGainRecognizedAmount
1152386000
us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
277000
us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
-3531000
ccoi Loss On Debt Extinguishment And Redemption2024 Notes
LossOnDebtExtinguishmentAndRedemption2024Notes
11885000
us-gaap Foreign Currency Transaction Gain Loss Unrealized
ForeignCurrencyTransactionGainLossUnrealized
31561000
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-63509000
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
4682000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
3247000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
3103000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
4763000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
9404000
us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
-4283000
us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
-45703000
ccoi Increase Decrease In Business Combination Amount Due To Seller Under Ip Transit Services Agreement
IncreaseDecreaseInBusinessCombinationAmountDueToSellerUnderIpTransitServicesAgreement
69629000
ccoi Increase Decrease In Due From Related Parties Current Transition Services
IncreaseDecreaseInDueFromRelatedPartiesCurrentTransitionServices
16831000
ccoi Increase Decrease In Unfavorable Lease Liabilities
IncreaseDecreaseInUnfavorableLeaseLiabilities
-16174000
us-gaap Increase Decrease In Operating Liabilities
IncreaseDecreaseInOperatingLiabilities
9715000
us-gaap Increase Decrease In Operating Liabilities
IncreaseDecreaseInOperatingLiabilities
23144000
ccoi Increase Decrease In Contract With Customer Refund Liability
IncreaseDecreaseInContractWithCustomerRefundLiability
-177000
ccoi Increase Decrease In Contract With Customer Refund Liability
IncreaseDecreaseInContractWithCustomerRefundLiability
236000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
66043000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
137384000
ccoi Proceeds From Consideration Received Under Ip Transit Agreement Classified As Investing Activities
ProceedsFromConsiderationReceivedUnderIpTransitAgreementClassifiedAsInvestingActivities
116667000
us-gaap Cash Acquired From Acquisition
CashAcquiredFromAcquisition
47100000
us-gaap Cash Acquired From Acquisition
CashAcquiredFromAcquisition
47100000
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
14037000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
86023000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
59380000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
16607000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-59380000
us-gaap Payments Of Dividends
PaymentsOfDividends
135354000
us-gaap Payments Of Dividends
PaymentsOfDividends
125882000
ccoi Redemption And Extinguishment Of2024 Notes
RedemptionAndExtinguishmentOf2024Notes
375354000
us-gaap Proceeds From Issuance Of Unsecured Debt
ProceedsFromIssuanceOfUnsecuredDebt
446010000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
787000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
426000
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
790000
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
58549000
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
20958000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-193116000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-76548000
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
626000
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-6416000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-109840000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-4960000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
275912000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
328624000
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
166072000
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
323664000
us-gaap Fair Value Of Assets Acquired
FairValueOfAssetsAcquired
1969000
us-gaap Capital Lease Obligations Incurred
CapitalLeaseObligationsIncurred
217782000
us-gaap Capital Lease Obligations Incurred
CapitalLeaseObligationsIncurred
74633000
CY2023Q3 us-gaap Number Of Countries In Which Entity Operates
NumberOfCountriesInWhichEntityOperates
54
CY2023Q3 ccoi Business Combination Recognized Identifiable Asset Acquired And Liability Assumed Working Capital Adjustment
BusinessCombinationRecognizedIdentifiableAssetAcquiredAndLiabilityAssumedWorkingCapitalAdjustment
1500000
CY2023Q3 ccoi Business Combination Amount Due From Seller
BusinessCombinationAmountDueFromSeller
5000000.0
CY2023Q2 ccoi Business Combination Estimated Working Capital Payments Made To Seller
BusinessCombinationEstimatedWorkingCapitalPaymentsMadeToSeller
66093000
CY2023Q2 ccoi Business Combination Amount Due From Seller Under Purchase Agreement Net Of Discount Noncurrent
BusinessCombinationAmountDueFromSellerUnderPurchaseAgreementNetOfDiscountNoncurrent
36696000
CY2023Q2 ccoi Business Combination Amount Due From Seller Under Ip Transit Services Agreement Net Of Discount
BusinessCombinationAmountDueFromSellerUnderIpTransitServicesAgreementNetOfDiscount
620390000
CY2023Q2 ccoi Business Combination Amount To Be Received From Seller
BusinessCombinationAmountToBeReceivedFromSeller
657086000
CY2023Q2 ccoi Business Combination Total Net Consideration To Be Received From Seller
BusinessCombinationTotalNetConsiderationToBeReceivedFromSeller
590993000
CY2023Q3 us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
24900000
CY2023Q3 ccoi Adjustment To Reclassify Operating Lease Liability To Finance Lease Liability
AdjustmentToReclassifyOperatingLeaseLiabilityToFinanceLeaseLiability
160900000
ccoi Business Combination Pro Forma Amortization Expenses Related To Unfavorable Lease Liability Increase Interest Expense
BusinessCombinationProFormaAmortizationExpensesRelatedToUnfavorableLeaseLiabilityIncreaseInterestExpense
8400000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
47097580
us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 12pt 0pt;"><i style="font-style:italic;">Use of estimates</i></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">The preparation of consolidated financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results may differ from these estimates.</p>
CY2023Q3 us-gaap Excise And Sales Taxes
ExciseAndSalesTaxes
14600000
CY2022Q3 us-gaap Excise And Sales Taxes
ExciseAndSalesTaxes
4100000
us-gaap Excise And Sales Taxes
ExciseAndSalesTaxes
29800000
us-gaap Excise And Sales Taxes
ExciseAndSalesTaxes
11300000
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
47227338
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
46736742
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
47234025
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
46759632
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
47227338
CY2022Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
46736742
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
47624709
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
1395258
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
1271441
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
1395258
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
1271441
CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
-440181000
CY2022Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
6812000
CY2022Q3 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
-7752000
CY2022Q3 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
92000
CY2022Q3 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
42729000
CY2022Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-8007000
CY2022Q3 us-gaap Stockholders Equity
StockholdersEquity
-491765000
CY2023Q2 us-gaap Stockholders Equity
StockholdersEquity
539200000
CY2023Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
8519000
CY2023Q3 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
-4134000
CY2023Q3 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
402000
CY2023Q3 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
45136000
CY2023Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-56723000
CY2023Q3 us-gaap Stockholders Equity
StockholdersEquity
442128000
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
-373098000
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
19905000
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
-17410000
us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
426000
us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
125882000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
4294000
CY2022Q3 us-gaap Stockholders Equity
StockholdersEquity
-491765000
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
-518632000
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
22643000
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
-605000
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
1000
us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
787000
us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
135354000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
1073288000
CY2023Q3 us-gaap Stockholders Equity
StockholdersEquity
442128000
ccoi Revenue Recognition Billing Due Receipts Contract Lengths Maximum
RevenueRecognitionBillingDueReceiptsContractLengthsMaximum
P60M
CY2023Q2 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
4162000
CY2022Q2 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
1829000
CY2022 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
6603000
CY2021 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
4408000
CY2023Q3 us-gaap Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
4884000
CY2022Q3 us-gaap Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
4864000
us-gaap Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
14435000
us-gaap Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
14520000
CY2023Q3 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
27172000
CY2022Q3 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
7188000
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
44598000
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
21186000
CY2023Q3 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
11609000
CY2022Q3 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
5382000
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
24604000
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
15579000
CY2023Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
20784000
CY2022Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
4547000
us-gaap Operating Lease Cost
OperatingLeaseCost
53096000
us-gaap Operating Lease Cost
OperatingLeaseCost
13948000
CY2023Q3 us-gaap Lease Cost
LeaseCost
59565000
CY2022Q3 us-gaap Lease Cost
LeaseCost
17117000
us-gaap Lease Cost
LeaseCost
122298000
us-gaap Lease Cost
LeaseCost
50713000
us-gaap Operating Lease Payments
OperatingLeasePayments
23081000
us-gaap Operating Lease Payments
OperatingLeasePayments
13478000
us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
54628000
us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
14165000
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
58549000
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
20958000
us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
217782000
us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
74633000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
9632000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
10498000
CY2023Q3 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P11Y8M12D
CY2022Q3 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P13Y1M6D
CY2023Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P11Y6M
CY2022Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P17Y9M18D
CY2023Q3 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.076
CY2022Q3 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.086
CY2023Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.080
CY2022Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.054
CY2023Q3 ccoi Finance Lease Liability Payments Due Additional
FinanceLeaseLiabilityPaymentsDueAdditional
167000000.0
CY2023Q3 us-gaap Lessee Finance Lease Term Of Contract1
LesseeFinanceLeaseTermOfContract1
P20Y
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Rolling Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextRollingTwelveMonths
79748000
CY2023Q3 us-gaap Finance Lease Liability Payments Due In Next Rolling Twelve Months
FinanceLeaseLiabilityPaymentsDueInNextRollingTwelveMonths
98781000
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due In Rolling Year Two
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearTwo
65233000
CY2023Q3 us-gaap Finance Lease Liability Payments Due In Rolling Year Two
FinanceLeaseLiabilityPaymentsDueInRollingYearTwo
95718000
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due In Rolling Year Three
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearThree
57698000
CY2023Q3 us-gaap Finance Lease Liability Payments Due In Rolling Year Three
FinanceLeaseLiabilityPaymentsDueInRollingYearThree
90501000
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due In Rolling Year Four
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearFour
52672000
CY2023Q3 us-gaap Finance Lease Liability Payments Due In Rolling Year Four
FinanceLeaseLiabilityPaymentsDueInRollingYearFour
51445000
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due In Rolling Year Five
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearFive
48076000
CY2023Q3 us-gaap Finance Lease Liability Payments Due In Rolling Year Five
FinanceLeaseLiabilityPaymentsDueInRollingYearFive
39629000
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due After Rolling Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterRollingYearFive
309365000
CY2023Q3 us-gaap Finance Lease Liability Payments Due In Rolling After Year Five
FinanceLeaseLiabilityPaymentsDueInRollingAfterYearFive
369232000
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
612792000
CY2023Q3 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
745306000
CY2023Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
213381000
CY2023Q3 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
262129000
CY2023Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
399411000
CY2023Q3 us-gaap Finance Lease Liability
FinanceLeaseLiability
483177000
CY2023Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
68418000
CY2023Q3 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
63236000
CY2023Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
330993000
CY2023Q3 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
419941000
CY2023Q3 us-gaap Off Market Lease Unfavorable
OffMarketLeaseUnfavorable
147500000
CY2023Q3 ccoi Amortization Of Off Market Lease Unfavorable
AmortizationOfOffMarketLeaseUnfavorable
9700000
ccoi Amortization Of Off Market Lease Unfavorable
AmortizationOfOffMarketLeaseUnfavorable
16200000
CY2023Q2 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
4882000
CY2023Q3 us-gaap Allowance For Doubtful Accounts Receivable Period Increase Decrease
AllowanceForDoubtfulAccountsReceivablePeriodIncreaseDecrease
1271000
CY2023Q3 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
1995000
CY2023Q3 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
4158000
CY2022Q2 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
1717000
CY2022Q3 us-gaap Allowance For Doubtful Accounts Receivable Period Increase Decrease
AllowanceForDoubtfulAccountsReceivablePeriodIncreaseDecrease
1054000
CY2022Q3 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
805000
CY2022Q3 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
1966000
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
2303000
us-gaap Allowance For Doubtful Accounts Receivable Period Increase Decrease
AllowanceForDoubtfulAccountsReceivablePeriodIncreaseDecrease
7833000
us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
5978000
CY2023Q3 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
4158000
CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
1510000
us-gaap Allowance For Doubtful Accounts Receivable Period Increase Decrease
AllowanceForDoubtfulAccountsReceivablePeriodIncreaseDecrease
3059000
us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
2603000
CY2022Q3 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
1966000
CY2023Q3 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
784000
CY2022Q3 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
500000
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
6718000
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
1513000
CY2023Q3 us-gaap Allowance For Doubtful Accounts Receivable Recoveries
AllowanceForDoubtfulAccountsReceivableRecoveries
459000
CY2022Q3 us-gaap Allowance For Doubtful Accounts Receivable Recoveries
AllowanceForDoubtfulAccountsReceivableRecoveries
500000
us-gaap Allowance For Doubtful Accounts Receivable Recoveries
AllowanceForDoubtfulAccountsReceivableRecoveries
1200000
us-gaap Allowance For Doubtful Accounts Receivable Recoveries
AllowanceForDoubtfulAccountsReceivableRecoveries
1506000
CY2023Q3 us-gaap Depreciation And Amortization
DepreciationAndAmortization
86718000
CY2022Q3 us-gaap Depreciation And Amortization
DepreciationAndAmortization
22891000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
164371000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
68640000
CY2023Q3 ccoi Property Plant And Equipment Compensation Costs Capitalized
PropertyPlantAndEquipmentCompensationCostsCapitalized
11675000
CY2022Q3 ccoi Property Plant And Equipment Compensation Costs Capitalized
PropertyPlantAndEquipmentCompensationCostsCapitalized
3002000
ccoi Property Plant And Equipment Compensation Costs Capitalized
PropertyPlantAndEquipmentCompensationCostsCapitalized
24115000
ccoi Property Plant And Equipment Compensation Costs Capitalized
PropertyPlantAndEquipmentCompensationCostsCapitalized
9290000
CY2023Q3 us-gaap Ratio Of Indebtedness To Net Capital1
RatioOfIndebtednessToNetCapital1
6.0
CY2023Q3 ccoi Ratio Of Additional Indebtedness To Net Capital
RatioOfAdditionalIndebtednessToNetCapital
4.0
CY2023Q3 ccoi Fixed Charge Coverage Ratio
FixedChargeCoverageRatio
2.0
ccoi Debt Instrument Covenant Permitted Investments And Payments
DebtInstrumentCovenantPermittedInvestmentsAndPayments
461800000
CY2023Q3 us-gaap Loss Contingency Range Of Possible Loss Portion Not Accrued
LossContingencyRangeOfPossibleLossPortionNotAccrued
4000000.0
CY2023Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-58402000
CY2022Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-3382000
us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
1057523000
us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
22953000
CY2023Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
-11944000
CY2022Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
-3656000
us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
-17834000
us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
-8596000
CY2023Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-70346000
CY2022Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-7038000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
1039689000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
14357000
us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
0
us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
0
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Additional Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfAdditionalSharesAuthorized
1200000
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
CY2023Q3 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
275429000
CY2022Q3 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
150000000
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
668822000
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
447625000
CY2023Q3 us-gaap Noncurrent Assets
NoncurrentAssets
1792619000
CY2022Q4 us-gaap Noncurrent Assets
NoncurrentAssets
544439000
CY2023Q3 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2023Q3 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2023Q3 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2023Q3 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

Files In Submission

Name View Source Status
ccoi-20230930_def.xml Edgar Link unprocessable
0001410578-23-002293-index-headers.html Edgar Link pending
0001410578-23-002293-index.html Edgar Link pending
0001410578-23-002293.txt Edgar Link pending
0001410578-23-002293-xbrl.zip Edgar Link pending
ccoi-20230930.xsd Edgar Link pending
ccoi-20230930x10q.htm Edgar Link pending
ccoi-20230930xex31d1.htm Edgar Link pending
ccoi-20230930xex31d2.htm Edgar Link pending
ccoi-20230930xex32d1.htm Edgar Link pending
ccoi-20230930xex32d2.htm Edgar Link pending
ccoi-20230930_cal.xml Edgar Link unprocessable
ccoi-20230930x10q_htm.xml Edgar Link completed
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
R1.htm Edgar Link pending
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report.css Edgar Link pending
Show.js Edgar Link pending
ccoi-20230930_lab.xml Edgar Link unprocessable
ccoi-20230930_pre.xml Edgar Link unprocessable
FilingSummary.xml Edgar Link unprocessable