$CCOI
COGENT COMMUNICATIONS HOLDINGS, INC.

2024 Q3 Form 10-Q Financial Statement

#000141057824001206 Filed on August 08, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue $257.2M $260.4M
YoY Change -6.62% 8.61%
Cost Of Revenue $161.6M $156.2M
YoY Change -6.94% 13.57%
Gross Profit $95.65M $104.3M
YoY Change -6.07% 1.93%
Gross Profit Margin 37.19% 40.04%
Selling, General & Admin $67.66M $68.35M
YoY Change 3.61% -18.3%
% of Gross Profit 70.74% 65.54%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $85.82M $74.04M
YoY Change -1.06% 40.99%
% of Gross Profit 89.72% 71.0%
Operating Expenses $67.66M $68.35M
YoY Change 3.61% -18.3%
Operating Profit -$57.83M -$47.14M
YoY Change 14.38% 36.24%
Interest Expense -$22.18M -$20.72M
YoY Change -191.67% -172.32%
% of Operating Profit
Other Income/Expense, Net -$1.153M $2.484M
YoY Change -171.88% 1142.0%
Pretax Income -$80.01M -$40.19M
YoY Change 13.74% -103.66%
Income Tax -$16.90M -$7.853M
% Of Pretax Income
Net Earnings -$63.11M -$32.34M
YoY Change 11.31% -102.88%
Net Earnings / Revenue -24.54% -12.42%
Basic Earnings Per Share -$1.33 -$0.68
Diluted Earnings Per Share -$1.33 -$0.68
COMMON SHARES
Basic Shares Outstanding 49.00M 49.02M
Diluted Shares Outstanding 47.43M 47.51M

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $279.2M $384.4M
YoY Change 154.5% 99.84%
Cash & Equivalents $279.2M $384.4M
Short-Term Investments
Other Short-Term Assets $109.1M $109.5M
YoY Change -16.0% -17.93%
Inventory
Prepaid Expenses
Receivables $99.57M $111.7M
Other Receivables $0.00 $0.00
Total Short-Term Assets $569.4M $689.5M
YoY Change -2.04% -3.33%
LONG-TERM ASSETS
Property, Plant & Equipment $1.621B $1.581B
YoY Change 0.19% -1.67%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $29.67M $26.46M
YoY Change 34.24% 19.33%
Total Long-Term Assets $2.635B $2.655B
YoY Change 10.68% 8.38%
TOTAL ASSETS
Total Short-Term Assets $569.4M $689.5M
Total Long-Term Assets $2.635B $2.655B
Total Assets $3.204B $3.344B
YoY Change 8.18% 5.74%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $53.05M $38.51M
YoY Change 80.66% 27.19%
Accrued Expenses $148.2M $189.1M
YoY Change 23.47% 60.81%
Deferred Revenue
YoY Change
Short-Term Debt $1.570M $2.286M
YoY Change -97.9% -98.13%
Long-Term Debt Due $21.94M $21.25M
YoY Change -65.29% 5.66%
Total Short-Term Liabilities $280.6M $313.0M
YoY Change -21.1% -24.74%
LONG-TERM LIABILITIES
Long-Term Debt $1.899B $1.842B
YoY Change 39.09% 46.63%
Other Long-Term Liabilities $47.10M $58.13M
YoY Change -40.7% -18.32%
Total Long-Term Liabilities $47.10M $58.13M
YoY Change -40.7% -18.32%
TOTAL LIABILITIES
Total Short-Term Liabilities $280.6M $313.0M
Total Long-Term Liabilities $47.10M $58.13M
Total Liabilities $2.881B $2.929B
YoY Change 14.33% 11.63%
SHAREHOLDERS EQUITY
Retained Earnings -$284.6M -$174.3M
YoY Change 108.27% 400.91%
Common Stock $620.5M $611.0M
YoY Change 3.66% 3.62%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $323.6M $415.5M
YoY Change
Total Liabilities & Shareholders Equity $3.204B $3.344B
YoY Change 8.18% 5.74%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income -$63.11M -$32.34M
YoY Change 11.31% -102.88%
Depreciation, Depletion And Amortization $85.82M $74.04M
YoY Change -1.06% 40.99%
Cash From Operating Activities -$20.23M -$22.17M
YoY Change -61.47% -126.82%
INVESTING ACTIVITIES
Capital Expenditures $59.24M $48.77M
YoY Change 134.17% 30.22%
Acquisitions
YoY Change
Other Investing Activities $25.00M $74.66M
YoY Change -71.43% 393.33%
Cash From Investing Activities -$34.24M $25.89M
YoY Change -155.14% -216.01%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -50.98M 255.6M
YoY Change -40.72% -587.18%
NET CHANGE
Cash From Operating Activities -20.23M -22.17M
Cash From Investing Activities -34.24M 25.89M
Cash From Financing Activities -50.98M 255.6M
Net Change In Cash -105.4M 259.3M
YoY Change 38.02% 3193.29%
FREE CASH FLOW
Cash From Operating Activities -$20.23M -$22.17M
Capital Expenditures $59.24M $48.77M
Free Cash Flow -$79.47M -$70.94M
YoY Change 2.15% -256.92%

Facts In Submission

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COGENT COMMUNICATIONS HOLDINGS, INC.
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InterestIncomeExpenseNonoperatingInternetProtocolTransitAgreement
7669000
ccoi Interest Income Expense Nonoperating Purchase Agreement
InterestIncomeExpenseNonoperatingPurchaseAgreement
-78000
ccoi Interest Income Expense Nonoperating Purchase Agreement
InterestIncomeExpenseNonoperatingPurchaseAgreement
506000
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
5226000
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
3695000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-124625000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
1110184000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-26980000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-19827000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-97645000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
1130011000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-97645000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
1130011000
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
-6756000
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
3529000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-104401000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
1133540000
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-2.06
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
23.97
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-2.06
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
23.79
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
1.940
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
1.860
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
47408786
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
47142074
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
47408786
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
47508334
us-gaap Profit Loss
ProfitLoss
-97645000
us-gaap Profit Loss
ProfitLoss
1130011000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
144930000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
77669000
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
1106000
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
652000
ccoi Business Combination Amortization Of Discount On Amount Due From Seller
BusinessCombinationAmortizationOfDiscountOnAmountDueFromSeller
-13186000
ccoi Business Combination Amortization Of Discount On Amount Due From Seller
BusinessCombinationAmortizationOfDiscountOnAmountDueFromSeller
-8175000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
10516000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
12830000
us-gaap Business Combination Bargain Purchase Gain Recognized Amount
BusinessCombinationBargainPurchaseGainRecognizedAmount
22202000
us-gaap Business Combination Bargain Purchase Gain Recognized Amount
BusinessCombinationBargainPurchaseGainRecognizedAmount
1155719000
us-gaap Gain Loss On Termination Of Lease
GainLossOnTerminationOfLease
3332000
us-gaap Gain Loss On Termination Of Lease
GainLossOnTerminationOfLease
608000
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-43554000
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-27190000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-23799000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
4918000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-12900000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
14140000
ccoi Increase Decrease In Business Combination Amount Due To Seller Under Ip Transit Services Agreement
IncreaseDecreaseInBusinessCombinationAmountDueToSellerUnderIpTransitServicesAgreement
-64622000
ccoi Increase Decrease In Business Combination Amount Due To Seller Under Ip Transit Services Agreement
IncreaseDecreaseInBusinessCombinationAmountDueToSellerUnderIpTransitServicesAgreement
118777000
ccoi Increase Decrease In Due From Related Parties Current Transition Services
IncreaseDecreaseInDueFromRelatedPartiesCurrentTransitionServices
11671000
ccoi Increase Decrease In Due From Related Parties Current Transition Services
IncreaseDecreaseInDueFromRelatedPartiesCurrentTransitionServices
7015000
ccoi Increase Decrease In Unfavorable Lease Liabilities
IncreaseDecreaseInUnfavorableLeaseLiabilities
-3843000
ccoi Increase Decrease In Unfavorable Lease Liabilities
IncreaseDecreaseInUnfavorableLeaseLiabilities
-6469000
us-gaap Increase Decrease In Operating Liabilities
IncreaseDecreaseInOperatingLiabilities
66541000
us-gaap Increase Decrease In Operating Liabilities
IncreaseDecreaseInOperatingLiabilities
2637000
ccoi Increase Decrease In Contract With Customer Refund Liability
IncreaseDecreaseInContractWithCustomerRefundLiability
-2688000
ccoi Increase Decrease In Contract With Customer Refund Liability
IncreaseDecreaseInContractWithCustomerRefundLiability
133000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-2951000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
118475000
ccoi Proceeds From Consideration Received Under Ip Transit Agreement Classified As Investing Activities
ProceedsFromConsiderationReceivedUnderIpTransitAgreementClassifiedAsInvestingActivities
154167000
ccoi Proceeds From Consideration Received Under Ip Transit Agreement Classified As Investing Activities
ProceedsFromConsiderationReceivedUnderIpTransitAgreementClassifiedAsInvestingActivities
29167000
us-gaap Cash Acquired From Acquisition
CashAcquiredFromAcquisition
47100000
ccoi Proceeds From Severance Cost Reimbursement Business Acquisition
ProceedsFromSeveranceCostReimbursementBusinessAcquisition
12323000
ccoi Proceeds From Severance Cost Reimbursement Business Acquisition
ProceedsFromSeveranceCostReimbursementBusinessAcquisition
-14034000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
89650000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
60653000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
76840000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-45520000
us-gaap Payments Of Dividends
PaymentsOfDividends
93782000
us-gaap Payments Of Dividends
PaymentsOfDividends
90218000
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
7968000
us-gaap Proceeds From Issuance Of Unsecured Debt
ProceedsFromIssuanceOfUnsecuredDebt
291879000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
204000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
385000
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
17247000
ccoi Settlement Of Finance Lease At Discount
SettlementOfFinanceLeaseAtDiscount
114576000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
232046000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-107080000
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
6525000
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
2166000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
312460000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-31959000
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
CY2024Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
426241000
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
243953000
us-gaap Fair Value Of Assets Acquired
FairValueOfAssetsAcquired
171000
us-gaap Capital Lease Obligations Incurred
CapitalLeaseObligationsIncurred
96606000
us-gaap Capital Lease Obligations Incurred
CapitalLeaseObligationsIncurred
42639000
CY2024Q2 us-gaap Number Of Countries In Which Entity Operates
NumberOfCountriesInWhichEntityOperates
54
CY2023Q2 ccoi Business Combination Estimated Working Capital Payments Made To Seller
BusinessCombinationEstimatedWorkingCapitalPaymentsMadeToSeller
37532000
CY2023Q2 ccoi Business Combination Amount Due From Seller Under Purchase Agreement Net Of Discount Noncurrent
BusinessCombinationAmountDueFromSellerUnderPurchaseAgreementNetOfDiscountNoncurrent
19723000
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
640113000
CY2023Q2 ccoi Business Combination Total Net Consideration To Be Received From Seller
BusinessCombinationTotalNetConsiderationToBeReceivedFromSeller
602581000
CY2023Q2 ccoi Business Combination Estimated Payment Related To Acquired Short Term Lease Obligations
BusinessCombinationEstimatedPaymentRelatedToAcquiredShortTermLeaseObligations
157200000
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>
CY2024Q2 us-gaap Excise And Sales Taxes
ExciseAndSalesTaxes
19200000
CY2023Q2 us-gaap Excise And Sales Taxes
ExciseAndSalesTaxes
11000000.0
us-gaap Excise And Sales Taxes
ExciseAndSalesTaxes
39700000
us-gaap Excise And Sales Taxes
ExciseAndSalesTaxes
15200000
CY2024Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
47511613
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
47137822
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
47408786
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
47142074
CY2024Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
47511613
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
47526207
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
47408786
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
47508334
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
1624434
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
1476049
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
1624434
CY2023Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
1476049
CY2023Q1 us-gaap Stockholders Equity
StockholdersEquity
-548547000
CY2023Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
6809000
CY2023Q2 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
1741000
CY2023Q2 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
1000
CY2023Q2 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
240000
CY2023Q2 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
44907000
CY2023Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
1123863000
CY2023Q2 us-gaap Stockholders Equity
StockholdersEquity
539200000
CY2024Q1 us-gaap Stockholders Equity
StockholdersEquity
500644000
CY2024Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
4298000
CY2024Q2 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
-1722000
CY2024Q2 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
40000
CY2024Q2 ccoi Stock Issued During Period Value Common Stock Purchases And Retirement
StockIssuedDuringPeriodValueCommonStockPurchasesAndRetirement
-7968000
CY2024Q2 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
47431000
CY2024Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-32338000
CY2024Q2 us-gaap Stockholders Equity
StockholdersEquity
415523000
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
-518632000
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
14124000
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
3529000
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
1000
us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
385000
us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
90218000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
1130011000
CY2023Q2 us-gaap Stockholders Equity
StockholdersEquity
539200000
CY2023Q4 us-gaap Stockholders Equity
StockholdersEquity
609556000
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
11914000
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
-6756000
us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
204000
ccoi Stock Issued During Period Value Common Stock Purchases And Retirement
StockIssuedDuringPeriodValueCommonStockPurchasesAndRetirement
-7968000
us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
93782000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-97645000
CY2024Q2 us-gaap Stockholders Equity
StockholdersEquity
415523000
CY2024Q1 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
2042000
CY2023Q1 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
3562000
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
4663000
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
4621000
CY2024Q2 us-gaap Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
5017000
CY2023Q2 us-gaap Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
4728000
us-gaap Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
9913000
us-gaap Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
9551000
CY2024Q2 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
12204000
CY2023Q2 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
8411000
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
23768000
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
17426000
CY2024Q2 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
9919000
CY2023Q2 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
6565000
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
20330000
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
12995000
CY2024Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
22716000
CY2023Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
27730000
us-gaap Operating Lease Cost
OperatingLeaseCost
46967000
us-gaap Operating Lease Cost
OperatingLeaseCost
32312000
CY2024Q2 us-gaap Lease Cost
LeaseCost
44839000
CY2023Q2 us-gaap Lease Cost
LeaseCost
42706000
us-gaap Lease Cost
LeaseCost
91065000
us-gaap Lease Cost
LeaseCost
62733000
us-gaap Operating Lease Payments
OperatingLeasePayments
16562000
us-gaap Operating Lease Payments
OperatingLeasePayments
11268000
us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
47671000
us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
32957000
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
17247000
us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
96606000
us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
42639000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
8265000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
8027000
CY2024Q2 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P16Y3M18D
CY2023Q2 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P13Y8M12D
CY2024Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P12Y6M
CY2023Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P9Y10M24D
CY2024Q2 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.084
CY2023Q2 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.085
CY2024Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.080
CY2023Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.073
CY2024Q2 ccoi Finance Lease Liability Payments Due Additional
FinanceLeaseLiabilityPaymentsDueAdditional
301400000
CY2024Q2 us-gaap Lessee Finance Lease Term Of Contract1
LesseeFinanceLeaseTermOfContract1
P20Y
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Rolling Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextRollingTwelveMonths
70312000
CY2024Q2 us-gaap Finance Lease Liability Payments Due In Next Rolling Twelve Months
FinanceLeaseLiabilityPaymentsDueInNextRollingTwelveMonths
54783000
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due In Rolling Year Two
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearTwo
58510000
CY2024Q2 us-gaap Finance Lease Liability Payments Due In Rolling Year Two
FinanceLeaseLiabilityPaymentsDueInRollingYearTwo
49786000
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due In Rolling Year Three
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearThree
54314000
CY2024Q2 us-gaap Finance Lease Liability Payments Due In Rolling Year Three
FinanceLeaseLiabilityPaymentsDueInRollingYearThree
46382000
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due In Rolling Year Four
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearFour
49545000
CY2024Q2 us-gaap Finance Lease Liability Payments Due In Rolling Year Four
FinanceLeaseLiabilityPaymentsDueInRollingYearFour
47095000
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due In Rolling Year Five
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearFive
46952000
CY2024Q2 us-gaap Finance Lease Liability Payments Due In Rolling Year Five
FinanceLeaseLiabilityPaymentsDueInRollingYearFive
45162000
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due After Rolling Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterRollingYearFive
304000000
CY2024Q2 us-gaap Finance Lease Liability Payments Due In Rolling After Year Five
FinanceLeaseLiabilityPaymentsDueInRollingAfterYearFive
551037000
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
583633000
CY2024Q2 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
794245000
CY2024Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
212798000
CY2024Q2 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
367816000
CY2024Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
370835000
CY2024Q2 us-gaap Finance Lease Liability
FinanceLeaseLiability
426429000
CY2024Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
61780000
CY2024Q2 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
21253000
CY2024Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
309055000
CY2024Q2 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
405176000
CY2024Q2 us-gaap Off Market Lease Unfavorable
OffMarketLeaseUnfavorable
157200000
CY2024Q2 ccoi Amortization Of Off Market Lease Unfavorable
AmortizationOfOffMarketLeaseUnfavorable
1400000
CY2023Q2 ccoi Amortization Of Off Market Lease Unfavorable
AmortizationOfOffMarketLeaseUnfavorable
6500000
ccoi Amortization Of Off Market Lease Unfavorable
AmortizationOfOffMarketLeaseUnfavorable
3800000
ccoi Amortization Of Off Market Lease Unfavorable
AmortizationOfOffMarketLeaseUnfavorable
6500000
CY2024Q2 ccoi Unfavorable Lease Liabilities Reduction To Depreciation Expense
UnfavorableLeaseLiabilitiesReductionToDepreciationExpense
9000000.0
ccoi Unfavorable Lease Liabilities Reduction To Depreciation Expense
UnfavorableLeaseLiabilitiesReductionToDepreciationExpense
18000000.0
CY2023Q3 ccoi Measurement Period Adjustment Reclassification From Operating Right Of Use Assets To Finance Lease Assets
MeasurementPeriodAdjustmentReclassificationFromOperatingRightOfUseAssetsToFinanceLeaseAssets
24900000
CY2023Q3 ccoi Measurement Period Adjustment Reclassification From Operating Lease Liabilities To Finance Lease Liabilities
MeasurementPeriodAdjustmentReclassificationFromOperatingLeaseLiabilitiesToFinanceLeaseLiabilities
160900000
CY2024Q1 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
5588000
CY2024Q2 us-gaap Allowance For Doubtful Accounts Receivable Period Increase Decrease
AllowanceForDoubtfulAccountsReceivablePeriodIncreaseDecrease
2920000
CY2024Q2 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
2126000
CY2024Q2 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
6382000
CY2023Q1 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
2675000
CY2023Q2 us-gaap Allowance For Doubtful Accounts Receivable Period Increase Decrease
AllowanceForDoubtfulAccountsReceivablePeriodIncreaseDecrease
5014000
CY2023Q2 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
2807000
CY2023Q2 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
4882000
CY2023Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
3677000
us-gaap Allowance For Doubtful Accounts Receivable Period Increase Decrease
AllowanceForDoubtfulAccountsReceivablePeriodIncreaseDecrease
5514000
us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
2809000
CY2024Q2 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
6382000
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
2303000
us-gaap Allowance For Doubtful Accounts Receivable Period Increase Decrease
AllowanceForDoubtfulAccountsReceivablePeriodIncreaseDecrease
6562000
us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
3983000
CY2023Q2 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
4882000
CY2024Q2 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
2920000
CY2023Q2 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
4719000
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
5514000
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
5934000
CY2024Q2 us-gaap Allowance For Doubtful Accounts Receivable Recoveries
AllowanceForDoubtfulAccountsReceivableRecoveries
828000
CY2023Q2 us-gaap Allowance For Doubtful Accounts Receivable Recoveries
AllowanceForDoubtfulAccountsReceivableRecoveries
349000
us-gaap Allowance For Doubtful Accounts Receivable Recoveries
AllowanceForDoubtfulAccountsReceivableRecoveries
1125000
us-gaap Allowance For Doubtful Accounts Receivable Recoveries
AllowanceForDoubtfulAccountsReceivableRecoveries
700000
CY2024Q2 us-gaap Depreciation And Amortization
DepreciationAndAmortization
74065000
CY2023Q2 us-gaap Depreciation And Amortization
DepreciationAndAmortization
51153000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
144907000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
76306000
CY2024Q2 ccoi Property Plant And Equipment Compensation Costs Capitalized
PropertyPlantAndEquipmentCompensationCostsCapitalized
11232000
CY2023Q2 ccoi Property Plant And Equipment Compensation Costs Capitalized
PropertyPlantAndEquipmentCompensationCostsCapitalized
8723000
ccoi Property Plant And Equipment Compensation Costs Capitalized
PropertyPlantAndEquipmentCompensationCostsCapitalized
22929000
ccoi Property Plant And Equipment Compensation Costs Capitalized
PropertyPlantAndEquipmentCompensationCostsCapitalized
12441000
CY2024Q2 us-gaap Debt Instrument Interest Rate Stated Percentage
DebtInstrumentInterestRateStatedPercentage
0.050
us-gaap Debt Instrument Basis Spread On Variable Rate1
DebtInstrumentBasisSpreadOnVariableRate1
0.03400
CY2024Q2 us-gaap Ratio Of Indebtedness To Net Capital1
RatioOfIndebtednessToNetCapital1
6.0
CY2024Q2 ccoi Ratio Of Additional Indebtedness To Net Capital
RatioOfAdditionalIndebtednessToNetCapital
4.0
CY2024Q2 ccoi Fixed Charge Coverage Ratio
FixedChargeCoverageRatio
2.0
ccoi Debt Instrument Covenant Permitted Investments And Payments
DebtInstrumentCovenantPermittedInvestmentsAndPayments
300000000.0
CY2024Q2 us-gaap Loss Contingency Range Of Possible Loss Portion Not Accrued
LossContingencyRangeOfPossibleLossPortionNotAccrued
4200000
CY2024Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-37199000
CY2023Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
1112947000
us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-116203000
us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
1115925000
CY2024Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
-2992000
CY2023Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
-13415000
us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
-8422000
us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
-5741000
CY2024Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-40191000
CY2023Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
1099532000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-124625000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
1110184000
CY2024Q2 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
22400000
us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
153322
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
8000000.0
us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
51.97
us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
0
CY2023Q2 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
0
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
CY2024Q2 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
260443000
CY2023Q2 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
239806000
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
526613000
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
393395000
CY2024Q2 us-gaap Noncurrent Assets
NoncurrentAssets
2146726000
CY2023Q4 us-gaap Noncurrent Assets
NoncurrentAssets
2122738000
CY2024Q2 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

Files In Submission

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ccoi-20240630_cal.xml Edgar Link unprocessable
0001410578-24-001206-index-headers.html Edgar Link pending
0001410578-24-001206-index.html Edgar Link pending
0001410578-24-001206.txt Edgar Link pending
0001410578-24-001206-xbrl.zip Edgar Link pending
ccoi-20240630.xsd Edgar Link pending
ccoi-20240630x10q.htm Edgar Link pending
ccoi-20240630xex31d1.htm Edgar Link pending
ccoi-20240630xex31d2.htm Edgar Link pending
ccoi-20240630xex32d1.htm Edgar Link pending
ccoi-20240630xex32d2.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
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ccoi-20240630_def.xml Edgar Link unprocessable
ccoi-20240630_lab.xml Edgar Link unprocessable
ccoi-20240630_pre.xml Edgar Link unprocessable
ccoi-20240630x10q_htm.xml Edgar Link completed
FilingSummary.xml Edgar Link unprocessable
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