2024 Q1 Form 10-K Financial Statement

#000141057824000091 Filed on February 29, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023 Q3
Revenue $266.2M $272.1M $275.4M
YoY Change 73.3% 79.04% 83.62%
Cost Of Revenue $168.9M $174.5M $173.6M
YoY Change 188.09% 206.29% 203.38%
Gross Profit $97.24M $97.60M $101.8M
YoY Change 2.41% 2.73% 9.76%
Gross Profit Margin 36.53% 35.87% 36.97%
Selling, General & Admin $76.70M $81.27M $65.31M
YoY Change 70.14% 85.16% 66.97%
% of Gross Profit 78.88% 83.27% 64.13%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $70.89M $67.81M $86.73M
YoY Change 181.31% 187.76% 278.75%
% of Gross Profit 72.91% 69.47% 85.17%
Operating Expenses $76.70M $149.1M $65.31M
YoY Change 70.14% 121.0% 66.97%
Operating Profit -$59.39M -$51.48M -$50.56M
YoY Change -344.28% -286.83% -279.95%
Interest Expense $23.01M -$5.783M $24.20M
YoY Change 21.07% -62.69% 34.82%
% of Operating Profit
Other Income/Expense, Net $2.737M -$254.0M $1.604M
YoY Change -21.76% -712.21%
Pretax Income -$84.43M $179.8M -$70.35M
YoY Change -892.66% 1395.86% 899.52%
Income Tax -$19.13M -$20.86M -$13.62M
% Of Pretax Income -11.6%
Net Earnings -$65.31M $200.2M -$56.70M
YoY Change -1162.25% 23392.14% 608.13%
Net Earnings / Revenue -24.54% 73.56% -20.59%
Basic Earnings Per Share -$1.38 -$1.20
Diluted Earnings Per Share -$1.38 $4.14 -$1.20
COMMON SHARES
Basic Shares Outstanding 47.43M 48.62M 48.88M
Diluted Shares Outstanding 47.42M 47.23M

Balance Sheet

Concept 2024 Q1 2023 Q4 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $118.4M $75.09M $109.7M
YoY Change -35.68% -66.44% -59.21%
Cash & Equivalents $118.4M $75.09M $109.7M
Short-Term Investments
Other Short-Term Assets $124.5M $119.3M $129.9M
YoY Change 25.18% 21.7% 28.45%
Inventory
Prepaid Expenses
Receivables $107.2M $135.5M $87.17M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $473.2M $513.6M $581.3M
YoY Change 43.91% 40.37% 40.57%
LONG-TERM ASSETS
Property, Plant & Equipment $1.561B $1.538B $1.618B
YoY Change 172.95% 182.46% 221.11%
Goodwill
YoY Change
Intangibles $472.8M $54.36M
YoY Change
Long-Term Investments
YoY Change
Other Assets $26.33M $23.44M $22.10M
YoY Change 45.05% 28.51% 27.1%
Total Long-Term Assets $2.672B $2.698B $2.380B
YoY Change 299.07% 318.77% 292.04%
TOTAL ASSETS
Total Short-Term Assets $473.2M $513.6M $581.3M
Total Long-Term Assets $2.672B $2.698B $2.380B
Total Assets $3.145B $3.212B $2.962B
YoY Change 215.04% 217.92% 190.16%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $45.93M $48.36M $29.37M
YoY Change 148.27% 77.73% 59.62%
Accrued Expenses $187.5M $120.5M $120.0M
YoY Change 144.23% 88.64% 78.38%
Deferred Revenue
YoY Change
Short-Term Debt $10.80M $71.89M $74.60M
YoY Change
Long-Term Debt Due $64.04M $64.59M $63.20M
YoY Change 223.74% 275.94% 161.86%
Total Short-Term Liabilities $420.6M $373.3M $355.7M
YoY Change 230.09% 210.37% 192.47%
LONG-TERM LIABILITIES
Long-Term Debt $1.399B $1.366B $1.365B
YoY Change 12.38% 10.9% 13.04%
Other Long-Term Liabilities $67.36M $61.64M $79.44M
YoY Change -18.29% -25.41% -5.13%
Total Long-Term Liabilities $67.36M $61.64M $79.44M
YoY Change -18.29% -25.41% -5.13%
TOTAL LIABILITIES
Total Short-Term Liabilities $420.6M $373.3M $355.7M
Total Long-Term Liabilities $67.36M $61.64M $79.44M
Total Liabilities $2.645B $2.602B $2.520B
YoY Change 70.97% 70.2% 66.59%
SHAREHOLDERS EQUITY
Retained Earnings -$94.52M $17.14M -$136.7M
YoY Change -91.51% -101.59% -86.75%
Common Stock $614.6M $606.8M $598.5M
YoY Change 5.49% 5.51% 5.36%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $500.6M $609.6M $442.1M
YoY Change
Total Liabilities & Shareholders Equity $3.145B $3.212B $2.962B
YoY Change 215.04% 217.92% 190.16%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023 Q3
OPERATING ACTIVITIES
Net Income -$65.31M $200.2M -$56.70M
YoY Change -1162.25% 23392.14% 608.13%
Depreciation, Depletion And Amortization $70.89M $67.81M $86.73M
YoY Change 181.31% 187.76% 278.75%
Cash From Operating Activities $19.22M -$48.70M -$52.50M
YoY Change -46.35% -234.07% -198.0%
INVESTING ACTIVITIES
Capital Expenditures $40.88M $43.61M $25.30M
YoY Change 76.19% 122.6% -205.54%
Acquisitions
YoY Change
Other Investing Activities $91.83M $103.7M $87.50M
YoY Change
Cash From Investing Activities $50.95M $60.12M $62.10M
YoY Change -319.58% -406.87% -359.06%
FINANCING ACTIVITIES
Cash Dividend Paid $478.0K
YoY Change -98.95%
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -23.55M -64.73M -86.00M
YoY Change -56.88% -5.22% 63.82%
NET CHANGE
Cash From Operating Activities 19.22M -48.70M -52.50M
Cash From Investing Activities 50.95M 60.12M 62.10M
Cash From Financing Activities -23.55M -64.73M -86.00M
Net Change In Cash 49.49M -53.31M -76.40M
YoY Change -219.29% 3.38% 233.67%
FREE CASH FLOW
Cash From Operating Activities $19.22M -$48.70M -$52.50M
Capital Expenditures $40.88M $43.61M $25.30M
Free Cash Flow -$21.66M -$92.31M -$77.80M
YoY Change -271.7% -651.68% -200.33%

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IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
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CY2022 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
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CY2021 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
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CY2023 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
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CY2022 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
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CY2021 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
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CY2023 ccoi Increase Decrease In Business Combination Amount Due To Seller Under Ip Transit Services Agreement
IncreaseDecreaseInBusinessCombinationAmountDueToSellerUnderIpTransitServicesAgreement
66908000
CY2023 ccoi Increase Decrease In Due From Related Parties Current Transition Services
IncreaseDecreaseInDueFromRelatedPartiesCurrentTransitionServices
4514000
CY2023 ccoi Increase Decrease In Contract With Customer Refund Liability
IncreaseDecreaseInContractWithCustomerRefundLiability
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CY2022 ccoi Increase Decrease In Contract With Customer Refund Liability
IncreaseDecreaseInContractWithCustomerRefundLiability
-282000
CY2021 ccoi Increase Decrease In Contract With Customer Refund Liability
IncreaseDecreaseInContractWithCustomerRefundLiability
-12000
CY2023 ccoi Increase Decrease In Unfavorable Lease Liabilities
IncreaseDecreaseInUnfavorableLeaseLiabilities
-26511000
CY2023 us-gaap Increase Decrease In Operating Liabilities
IncreaseDecreaseInOperatingLiabilities
29045000
CY2022 us-gaap Increase Decrease In Operating Liabilities
IncreaseDecreaseInOperatingLiabilities
20635000
CY2021 us-gaap Increase Decrease In Operating Liabilities
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851000
CY2023 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
17345000
CY2022 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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CY2021 us-gaap Net Cash Provided By Used In Operating Activities
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CY2023 ccoi Proceeds From Consideration Received Under Ip Transit Agreement Classified As Investing Activities
ProceedsFromConsiderationReceivedUnderIpTransitAgreementClassifiedAsInvestingActivities
204167000
CY2023 us-gaap Cash Acquired From Acquisition
CashAcquiredFromAcquisition
47100000
CY2023 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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CY2023 us-gaap Payments To Acquire Property Plant And Equipment
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CY2022 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
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CY2021 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
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CY2023 us-gaap Net Cash Provided By Used In Investing Activities
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CY2022 us-gaap Net Cash Provided By Used In Investing Activities
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CY2021 us-gaap Net Cash Provided By Used In Investing Activities
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CY2022 ccoi Redemption And Extinguishment Of2024 Notes
RedemptionAndExtinguishmentOf2024Notes
375354000
CY2021 ccoi Redemption And Extinguishment Of2022 Notes
RedemptionAndExtinguishmentOf2022Notes
459317000
CY2023 us-gaap Payments Of Dividends
PaymentsOfDividends
181716000
CY2022 us-gaap Payments Of Dividends
PaymentsOfDividends
169857000
CY2021 us-gaap Payments Of Dividends
PaymentsOfDividends
150288000
CY2023 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
77362000
CY2022 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
45472000
CY2021 us-gaap Finance Lease Principal Payments
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23054000
CY2022 us-gaap Repayments Of Long Term Debt
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790000
CY2021 us-gaap Repayments Of Long Term Debt
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6922000
CY2022 us-gaap Net Cash Provided By Used In Operating Activities
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173707000
CY2021 us-gaap Net Cash Provided By Used In Operating Activities
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170257000
CY2023 ccoi Proceeds From Consideration Received Under Ip Transit Agreement Classified As Investing Activities
ProceedsFromConsiderationReceivedUnderIpTransitAgreementClassifiedAsInvestingActivities
204167000
CY2023 us-gaap Cash Acquired From Acquisition
CashAcquiredFromAcquisition
47100000
CY2023 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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-2191000
CY2023 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
129632000
CY2022 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
78971000
CY2021 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
69916000
CY2023 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
76726000
CY2022 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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CY2021 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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CY2022 ccoi Redemption And Extinguishment Of2024 Notes
RedemptionAndExtinguishmentOf2024Notes
375354000
CY2021 ccoi Redemption And Extinguishment Of2022 Notes
RedemptionAndExtinguishmentOf2022Notes
459317000
CY2023 us-gaap Payments Of Dividends
PaymentsOfDividends
181716000
CY2022 us-gaap Payments Of Dividends
PaymentsOfDividends
169857000
CY2021 us-gaap Payments Of Dividends
PaymentsOfDividends
150288000
CY2023 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
77362000
CY2022 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
45472000
CY2021 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
23054000
CY2022 us-gaap Repayments Of Long Term Debt
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790000
CY2021 us-gaap Repayments Of Long Term Debt
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6922000
CY2023 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
1227000
CY2022 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
614000
CY2021 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
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CY2023 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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CY2022 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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CY2021 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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CY2023 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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1649000
CY2022 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2021 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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-2193000
CY2023 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-162131000
CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
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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
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
371301000
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
113781000
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
CY2023 us-gaap Interest Paid Net
InterestPaidNet
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CY2022 us-gaap Interest Paid Net
InterestPaidNet
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CY2021 us-gaap Interest Paid Net
InterestPaidNet
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CY2023 us-gaap Income Taxes Paid
IncomeTaxesPaid
35291000
CY2022 us-gaap Income Taxes Paid
IncomeTaxesPaid
7156000
CY2021 us-gaap Income Taxes Paid
IncomeTaxesPaid
4452000
CY2023 us-gaap Capital Lease Obligations Incurred
CapitalLeaseObligationsIncurred
232468000
CY2022 us-gaap Capital Lease Obligations Incurred
CapitalLeaseObligationsIncurred
107875000
CY2023 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
1227000
CY2022 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
614000
CY2021 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
1823000
CY2023 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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CY2022 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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CY2021 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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CY2023 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1649000
CY2022 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2021 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2023 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
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CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
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CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
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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
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
371301000
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
113781000
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
CY2023 us-gaap Interest Paid Net
InterestPaidNet
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CY2022 us-gaap Interest Paid Net
InterestPaidNet
66479000
CY2021 us-gaap Interest Paid Net
InterestPaidNet
59497000
CY2023 us-gaap Income Taxes Paid
IncomeTaxesPaid
35291000
CY2022 us-gaap Income Taxes Paid
IncomeTaxesPaid
7156000
CY2021 us-gaap Income Taxes Paid
IncomeTaxesPaid
4452000
CY2023 us-gaap Capital Lease Obligations Incurred
CapitalLeaseObligationsIncurred
232468000
CY2022 us-gaap Capital Lease Obligations Incurred
CapitalLeaseObligationsIncurred
107875000
CY2021 us-gaap Capital Lease Obligations Incurred
CapitalLeaseObligationsIncurred
50831000
CY2023 ccoi Fair Value Of Equipment Acquired In Leases
FairValueOfEquipmentAcquiredInLeases
141000
CY2022 ccoi Fair Value Of Equipment Acquired In Leases
FairValueOfEquipmentAcquiredInLeases
1969000
CY2023Q4 us-gaap Number Of Countries In Which Entity Operates
NumberOfCountriesInWhichEntityOperates
54
CY2023Q2 ccoi Business Combination Estimated Working Capital Payments Made To Seller
BusinessCombinationEstimatedWorkingCapitalPaymentsMadeToSeller
49865000
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
607221000
CY2023Q3 us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
24900000
CY2021 us-gaap Capital Lease Obligations Incurred
CapitalLeaseObligationsIncurred
50831000
CY2023 ccoi Fair Value Of Equipment Acquired In Leases
FairValueOfEquipmentAcquiredInLeases
141000
CY2022 ccoi Fair Value Of Equipment Acquired In Leases
FairValueOfEquipmentAcquiredInLeases
1969000
CY2023Q4 us-gaap Number Of Countries In Which Entity Operates
NumberOfCountriesInWhichEntityOperates
54
CY2023Q2 ccoi Business Combination Estimated Working Capital Payments Made To Seller
BusinessCombinationEstimatedWorkingCapitalPaymentsMadeToSeller
49865000
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
607221000
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
CY2023Q4 us-gaap Business Combination Bargain Purchase Gain Recognized Amount
BusinessCombinationBargainPurchaseGainRecognizedAmount
254000000.0
CY2023Q4 us-gaap Off Market Lease Unfavorable
OffMarketLeaseUnfavorable
151100000
CY2022 ccoi Business Combination Pro Forma Amortization Expenses Related To Unfavorable Lease Liability Increase Interest Expense
BusinessCombinationProFormaAmortizationExpensesRelatedToUnfavorableLeaseLiabilityIncreaseInterestExpense
10900000
CY2023 us-gaap Use Of Estimates
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<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;margin:0pt 0pt 12pt 0pt;">Use of estimates</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">The preparation of consolidated financial statements in conformity with United States generally accepted accounting principles 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 ccoi Adjustment To Reclassify Operating Lease Liability To Finance Lease Liability
AdjustmentToReclassifyOperatingLeaseLiabilityToFinanceLeaseLiability
160900000
CY2023Q4 us-gaap Business Combination Bargain Purchase Gain Recognized Amount
BusinessCombinationBargainPurchaseGainRecognizedAmount
254000000.0
CY2023Q4 us-gaap Off Market Lease Unfavorable
OffMarketLeaseUnfavorable
151100000
CY2022 ccoi Business Combination Pro Forma Amortization Expenses Related To Unfavorable Lease Liability Increase Interest Expense
BusinessCombinationProFormaAmortizationExpensesRelatedToUnfavorableLeaseLiabilityIncreaseInterestExpense
10900000
CY2023 us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;margin:0pt 0pt 12pt 0pt;">Use of estimates</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">The preparation of consolidated financial statements in conformity with United States generally accepted accounting principles 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>
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
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2303000
CY2023 us-gaap Allowance For Doubtful Accounts Receivable Period Increase Decrease
AllowanceForDoubtfulAccountsReceivablePeriodIncreaseDecrease
10475000
CY2023 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
9101000
CY2023Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
3677000
CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
1510000
CY2022 us-gaap Allowance For Doubtful Accounts Receivable Period Increase Decrease
AllowanceForDoubtfulAccountsReceivablePeriodIncreaseDecrease
4318000
CY2022 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
3525000
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
2303000
CY2020Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
1921000
CY2021 us-gaap Allowance For Doubtful Accounts Receivable Period Increase Decrease
AllowanceForDoubtfulAccountsReceivablePeriodIncreaseDecrease
5595000
CY2021 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
6006000
CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
1510000
CY2023 us-gaap Allowance For Doubtful Accounts Receivable Recoveries
AllowanceForDoubtfulAccountsReceivableRecoveries
1900000
CY2022 us-gaap Allowance For Doubtful Accounts Receivable Recoveries
AllowanceForDoubtfulAccountsReceivableRecoveries
1900000
CY2021 us-gaap Allowance For Doubtful Accounts Receivable Recoveries
AllowanceForDoubtfulAccountsReceivableRecoveries
2200000
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
2303000
CY2023 us-gaap Allowance For Doubtful Accounts Receivable Period Increase Decrease
AllowanceForDoubtfulAccountsReceivablePeriodIncreaseDecrease
10475000
CY2023 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
9101000
CY2023Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
3677000
CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
1510000
CY2022 us-gaap Allowance For Doubtful Accounts Receivable Period Increase Decrease
AllowanceForDoubtfulAccountsReceivablePeriodIncreaseDecrease
4318000
CY2022 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
3525000
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
2303000
CY2020Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
1921000
CY2021 us-gaap Allowance For Doubtful Accounts Receivable Period Increase Decrease
AllowanceForDoubtfulAccountsReceivablePeriodIncreaseDecrease
5595000
CY2021 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
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CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
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CY2023 us-gaap Allowance For Doubtful Accounts Receivable Recoveries
AllowanceForDoubtfulAccountsReceivableRecoveries
1900000
CY2022 us-gaap Allowance For Doubtful Accounts Receivable Recoveries
AllowanceForDoubtfulAccountsReceivableRecoveries
1900000
CY2021 us-gaap Allowance For Doubtful Accounts Receivable Recoveries
AllowanceForDoubtfulAccountsReceivableRecoveries
2200000
CY2023 us-gaap Finance Lease Right Of Use Asset Amortization
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64698000
CY2022 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
28915000
CY2023 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
34940000
CY2022 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
23317000
CY2023 us-gaap Operating Lease Cost
OperatingLeaseCost
92763000
CY2022 us-gaap Operating Lease Cost
OperatingLeaseCost
18331000
CY2023 us-gaap Lease Cost
LeaseCost
192401000
CY2022 us-gaap Lease Cost
LeaseCost
70563000
CY2023 us-gaap Operating Lease Payments
OperatingLeasePayments
33080000
CY2022 us-gaap Operating Lease Payments
OperatingLeasePayments
23317000
CY2023 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
93924000
CY2022 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
18836000
CY2023 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
77362000
CY2022 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
45472000
CY2023 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
232468000
CY2022 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
107875000
CY2023 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
13682000
CY2022 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
11168000
CY2023Q4 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P11Y6M
CY2022Q4 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P13Y6M
CY2023Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P12Y2M12D
CY2022Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P16Y7M6D
CY2023Q4 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.076
CY2022Q4 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.086
CY2023Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.081
CY2023 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
64698000
CY2022 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
28915000
CY2023 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
34940000
CY2022 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
23317000
CY2023 us-gaap Operating Lease Cost
OperatingLeaseCost
92763000
CY2022 us-gaap Operating Lease Cost
OperatingLeaseCost
18331000
CY2023 us-gaap Lease Cost
LeaseCost
192401000
CY2022 us-gaap Lease Cost
LeaseCost
70563000
CY2023 us-gaap Operating Lease Payments
OperatingLeasePayments
33080000
CY2022 us-gaap Operating Lease Payments
OperatingLeasePayments
23317000
CY2023 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
93924000
CY2022 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
18836000
CY2023 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
77362000
CY2022 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
45472000
CY2023 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
232468000
CY2022 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
107875000
CY2023 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
13682000
CY2022 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
11168000
CY2023Q4 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P11Y6M
CY2022Q4 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P13Y6M
CY2023Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P12Y2M12D
CY2022Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P16Y7M6D
CY2023Q4 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.076
CY2022Q4 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.086
CY2023Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.081
CY2022Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.054
CY2023Q4 ccoi Finance Lease Liability Payments Due Additional
FinanceLeaseLiabilityPaymentsDueAdditional
242800000
CY2023Q4 us-gaap Lessee Finance Lease Term Of Contract1
LesseeFinanceLeaseTermOfContract1
P20Y
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Rolling Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextRollingTwelveMonths
79272000
CY2023Q4 us-gaap Finance Lease Liability Payments Due In Next Rolling Twelve Months
FinanceLeaseLiabilityPaymentsDueInNextRollingTwelveMonths
100357000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due In Rolling Year Two
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearTwo
62443000
CY2023Q4 us-gaap Finance Lease Liability Payments Due In Rolling Year Two
FinanceLeaseLiabilityPaymentsDueInRollingYearTwo
95370000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due In Rolling Year Three
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearThree
57600000
CY2023Q4 us-gaap Finance Lease Liability Payments Due In Rolling Year Three
FinanceLeaseLiabilityPaymentsDueInRollingYearThree
91955000
CY2022Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.054
CY2023Q4 ccoi Finance Lease Liability Payments Due Additional
FinanceLeaseLiabilityPaymentsDueAdditional
242800000
CY2023Q4 us-gaap Lessee Finance Lease Term Of Contract1
LesseeFinanceLeaseTermOfContract1
P20Y
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Rolling Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextRollingTwelveMonths
79272000
CY2023Q4 us-gaap Finance Lease Liability Payments Due In Next Rolling Twelve Months
FinanceLeaseLiabilityPaymentsDueInNextRollingTwelveMonths
100357000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due In Rolling Year Two
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearTwo
62443000
CY2023Q4 us-gaap Finance Lease Liability Payments Due In Rolling Year Two
FinanceLeaseLiabilityPaymentsDueInRollingYearTwo
95370000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due In Rolling Year Three
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearThree
57600000
CY2023Q4 us-gaap Finance Lease Liability Payments Due In Rolling Year Three
FinanceLeaseLiabilityPaymentsDueInRollingYearThree
91955000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due In Rolling Year Four
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearFour
51511000
CY2023Q4 us-gaap Finance Lease Liability Payments Due In Rolling Year Four
FinanceLeaseLiabilityPaymentsDueInRollingYearFour
41469000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due In Rolling Year Five
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearFive
48154000
CY2023Q4 us-gaap Finance Lease Liability Payments Due In Rolling Year Five
FinanceLeaseLiabilityPaymentsDueInRollingYearFive
40198000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due After Rolling Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterRollingYearFive
328298000
CY2023Q4 us-gaap Finance Lease Liability Payments Due In Rolling After Year Five
FinanceLeaseLiabilityPaymentsDueInRollingAfterYearFive
382361000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
627278000
CY2023Q4 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
751710000
CY2023Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
229221000
CY2023Q4 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
267195000
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
398057000
CY2023Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
484515000
CY2023Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
67962000
CY2023Q4 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
64594000
CY2023Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
330095000
CY2023Q4 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
419921000
CY2023Q4 us-gaap Capitalized Contract Cost Net
CapitalizedContractCostNet
24300000
CY2022Q4 us-gaap Capitalized Contract Cost Net
CapitalizedContractCostNet
23700000
CY2023 ccoi Revenue Recognition Billing Due Receipts Contract Lengths Maximum
RevenueRecognitionBillingDueReceiptsContractLengthsMaximum
P60M
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due In Rolling Year Four
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearFour
51511000
CY2023Q4 us-gaap Finance Lease Liability Payments Due In Rolling Year Four
FinanceLeaseLiabilityPaymentsDueInRollingYearFour
41469000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due In Rolling Year Five
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearFive
48154000
CY2023Q4 us-gaap Finance Lease Liability Payments Due In Rolling Year Five
FinanceLeaseLiabilityPaymentsDueInRollingYearFive
40198000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due After Rolling Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterRollingYearFive
328298000
CY2023Q4 us-gaap Finance Lease Liability Payments Due In Rolling After Year Five
FinanceLeaseLiabilityPaymentsDueInRollingAfterYearFive
382361000
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
627278000
CY2023Q4 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
751710000
CY2023Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
229221000
CY2023Q4 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
267195000
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
398057000
CY2023Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
484515000
CY2023Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
67962000
CY2023Q4 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
64594000
CY2023Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
330095000
CY2023Q4 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
419921000
CY2023Q4 us-gaap Capitalized Contract Cost Net
CapitalizedContractCostNet
24300000
CY2022Q4 us-gaap Capitalized Contract Cost Net
CapitalizedContractCostNet
23700000
CY2023 ccoi Revenue Recognition Billing Due Receipts Contract Lengths Maximum
RevenueRecognitionBillingDueReceiptsContractLengthsMaximum
P60M
CY2023 us-gaap Excise And Sales Taxes
ExciseAndSalesTaxes
50200000
CY2022 us-gaap Excise And Sales Taxes
ExciseAndSalesTaxes
15400000
CY2021 us-gaap Excise And Sales Taxes
ExciseAndSalesTaxes
18500000
CY2023Q4 ccoi Ratio Of Additional Indebtedness To Net Capital
RatioOfAdditionalIndebtednessToNetCapital
4.0
CY2023Q4 ccoi Fixed Charge Coverage Ratio
FixedChargeCoverageRatio
2.0
CY2023 ccoi Debt Instrument Covenant Permitted Investments And Payments
DebtInstrumentCovenantPermittedInvestmentsAndPayments
511300000
CY2023 ccoi Debt Instrument Covenant Permitted Investments And Payments
DebtInstrumentCovenantPermittedInvestmentsAndPayments
511300000
CY2021 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
17959000
CY2023 us-gaap Excise And Sales Taxes
ExciseAndSalesTaxes
50200000
CY2022 us-gaap Excise And Sales Taxes
ExciseAndSalesTaxes
15400000
CY2021 us-gaap Excise And Sales Taxes
ExciseAndSalesTaxes
18500000
CY2023 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;margin:0pt 0pt 12pt 0pt;">Concentrations of credit risk</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">The Company’s assets that are exposed to credit risk consist of its cash and cash equivalents, other assets and accounts receivable. As of December 31, 2023 and 2022, the Company’s cash equivalents were invested in demand deposit accounts, overnight investments and money market funds. The Company places its cash equivalents in instruments that meet high-quality credit standards as specified in the Company’s investment policy guidelines. Accounts receivable are due from customers located in major metropolitan areas in the United States, Europe, Canada, Mexico, South America, Oceania and Africa. Receivables from the Company’s net-centric (wholesale) customers are generally subject to a higher degree of credit risk than the Company’s corporate customers.</p>
CY2023 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;margin:0pt 0pt 12pt 0pt;">Concentrations of credit risk</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">The Company’s assets that are exposed to credit risk consist of its cash and cash equivalents, other assets and accounts receivable. As of December 31, 2023 and 2022, the Company’s cash equivalents were invested in demand deposit accounts, overnight investments and money market funds. The Company places its cash equivalents in instruments that meet high-quality credit standards as specified in the Company’s investment policy guidelines. Accounts receivable are due from customers located in major metropolitan areas in the United States, Europe, Canada, Mexico, South America, Oceania and Africa. Receivables from the Company’s net-centric (wholesale) customers are generally subject to a higher degree of credit risk than the Company’s corporate customers.</p>
CY2021Q1 us-gaap Debt Instrument Redemption Price Percentage
DebtInstrumentRedemptionPricePercentage
1.032
CY2023Q4 us-gaap Ratio Of Indebtedness To Net Capital1
RatioOfIndebtednessToNetCapital1
6.0
CY2023 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
47373361
CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
46875992
CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
46419180
CY2023 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
47837512
CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
47207298
CY2021 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
46963920
CY2023 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
47373361
CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
46875992
CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
46419180
CY2023 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
47837512
CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
47207298
CY2021 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
46963920
CY2023Q4 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset After Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization
1537817000
CY2022Q4 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
4911000
CY2023Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
13696000
CY2022Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
11880000
CY2023Q4 us-gaap Accrual For Taxes Other Than Income Taxes Current
AccrualForTaxesOtherThanIncomeTaxesCurrent
41820000
CY2022Q4 us-gaap Accrual For Taxes Other Than Income Taxes Current
AccrualForTaxesOtherThanIncomeTaxesCurrent
2687000
CY2023Q4 us-gaap Interest Payable Current
InterestPayableCurrent
5636000
CY2022Q4 us-gaap Interest Payable Current
InterestPayableCurrent
4656000
CY2023Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
120523000
CY2022Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
63889000
CY2022Q2 us-gaap Debt Instrument Redemption Price Percentage
DebtInstrumentRedemptionPricePercentage
1.01094
CY2021Q1 us-gaap Debt Instrument Redemption Price Percentage
DebtInstrumentRedemptionPricePercentage
1.032
CY2023Q4 us-gaap Ratio Of Indebtedness To Net Capital1
RatioOfIndebtednessToNetCapital1
6.0
CY2023Q4 ccoi Ratio Of Additional Indebtedness To Net Capital
RatioOfAdditionalIndebtednessToNetCapital
4.0
CY2023Q4 ccoi Fixed Charge Coverage Ratio
FixedChargeCoverageRatio
2.0
CY2023Q4 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset After Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization
1537817000
CY2022Q4 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset After Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization
544430000
CY2022 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
92200000
CY2021 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
89200000
CY2023Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
31254000
CY2022Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
19488000
CY2023Q4 ccoi Accrued Interest Rate Swap Agreement Current
AccruedInterestRateSwapAgreementCurrent
21568000
CY2022Q4 ccoi Accrued Interest Rate Swap Agreement Current
AccruedInterestRateSwapAgreementCurrent
20267000
CY2023Q4 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
6549000
CY2022Q4 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
4911000
CY2023Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
13696000
CY2022Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
11880000
CY2023Q4 us-gaap Accrual For Taxes Other Than Income Taxes Current
AccrualForTaxesOtherThanIncomeTaxesCurrent
41820000
CY2022Q4 us-gaap Accrual For Taxes Other Than Income Taxes Current
AccrualForTaxesOtherThanIncomeTaxesCurrent
2687000
CY2023Q4 us-gaap Interest Payable Current
InterestPayableCurrent
5636000
CY2022Q4 us-gaap Interest Payable Current
InterestPayableCurrent
4656000
CY2023Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
120523000
CY2022Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
63889000
CY2022Q2 us-gaap Debt Instrument Redemption Price Percentage
DebtInstrumentRedemptionPricePercentage
1.01094
CY2022 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
143000
CY2021 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
17959000
CY2023 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-16086000
CY2023 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-16086000
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
500000000
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
450000000
CY2023Q4 us-gaap Long Term Debt
LongTermDebt
950000000
CY2023 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
1217084000
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
34784000
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
73753000
CY2023 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
2393000
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
-8408000
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
-2333000
CY2023 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
1219477000
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
26376000
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
71420000
CY2023 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
3638000
CY2023 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
11868000
CY2022 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
4195000
CY2021 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
3116000
CY2023 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
203000
CY2022 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
496000
CY2021 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
1833000
CY2023 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-53393000
CY2022 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
16299000
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
500000000
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
450000000
CY2023Q4 us-gaap Long Term Debt
LongTermDebt
950000000
CY2023 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
1217084000
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
34784000
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
73753000
CY2023 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
2393000
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
-8408000
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
-2333000
CY2023 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
1219477000
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
26376000
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
71420000
CY2023 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
3638000
CY2023 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
11868000
CY2022 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
4195000
CY2021 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
3116000
CY2023 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
203000
CY2022 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
496000
CY2021 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
1833000
CY2023 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-53393000
CY2022 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
16299000
CY2021 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
2348000
CY2023 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
-194000
CY2022 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
97000
CY2021 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
-2021000
CY2023 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-53964000
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
21230000
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
23235000
CY2022 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
143000
CY2021 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
2348000
CY2023 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
-194000
CY2022 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
97000
CY2021 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
-2021000
CY2023 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-53964000
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
21230000
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
23235000
CY2023Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
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