REVENUE RECOGNITION (Tables)

3 Months Ended

Mar. 31, 2018

Revenue Recognition

Summary of contracts asset and liabilities

Contracts asset and liabilities consisted of the following (amounts in thousands):

		March 31, 2018		January 1, 2018		$ Change	% Change
Contract asset – current	$	1,309	$	1,176	$	133	11%
Contract asset – noncurrent		498		453		45	10%
Contract liabilities		(9,827)		(9,912)		85	-1%
Net contract liability	$	(8,020)	$	(8,283)	$	263	-3%

ASU 2014-09

Revenue Recognition

Summary of changes to the Company’s financial statements as a result of the adoption of ASC 606

The tables below identify changes to the Company’s financial statements as of March 31, 2018 and for the three months then ended as a result of the adoption of ASC 606 as compared to previous revenue guidance (amounts in thousands):

Balance Sheet - March 31, 2018
		Reported		Change		Under previous guidance
Prepayments and other current assets	$	33,450	$	(2,426)	$	31,024
Total current assets	$	303,355	$	(2,426)	$	300,929
Other assets	$	37,060	$	(1,298)	$	35,762
Total Assets	$	1,196,818	$	(3,724)	$	1,193,094
Advance payments and deposits	$	26,750	$	(277)	$	26,473
Accrued taxes		12,067		(93)		11,974
Total current liabilities	$	168,891	$	(370)	$	168,521
Deferred income taxes	$	30,945	$	(301)	$	30,644
Total Liabilities	$	382,803	$	(671)	$	382,132
Retained Earnings	$	546,368	$	(1,725)	$	544,643
Minority Interest	$	133,408	$	(1,328)	$	132,080
Total Equity	$	814,015	$	(3,053)	$	810,962
Total Liabilities and Equity	$	1,196,818	$	(3,724)	$	1,193,094

Statement of Operations - Three months ended March 31, 2018
		Reported		Change		Under previous guidance
Wireless Revenue	$	50,548	$	(133)	$	50,415
Total Revenue	$	104,475	$	(133)	$	104,342
Sales, marketing and customer service	$	8,562	$	378	$	8,940
Total Expenses	$	100,266	$	378	$	100,644
Income from operations	$	4,209	$	(511)	$	3,698
Income before taxes		1,618		(511)		1,107
Income tax provision		3,921		(93)		3,828
Net loss	$	(2,303)	$	(418)	$	(2,721)
Net income attributable  to non-controlling interests		(3,252)		181		(3,071)
Net loss attributable to ATN International, Inc. stockholders	$	(5,555)	$	(237)	$	(5,792)

Statement of Comprehensive Loss- Three months ended March 31, 2018
		Reported		Change		Under previous guidance
Net Loss	$	(2,303)	$	(418)	$	(2,721)
Other comprehensive loss, net of tax		(893)		—		(893)
Comprehensive loss		(3,196)		(418)		(3,614)
Less: Comprehensive income attributable to non-controlling interests		(3,252)		181		(3,071)
Comprehensive loss attributable to ATN International, Inc.	$	(6,448)	$	(237)	$	(6,685)

Statement of Cash Flows - Three months ended March 31, 2018
		Reported		Change (1)		Under previous guidance
Net income (loss)	$	(2,303)	$	(418)	$	(2,721)
Materials and supplies, prepayments and other current assets	$	3,991	$	350	$	4,341
Accrued taxes		3,292		(93)		3,199
Accounts payable and accrued liabilities, advance payments and deposits and other current liabilities		(2,306)		(46)		(2,352)
Other assets	$	(581)	$	207	$	(374)

(1) The adoption of ASC 606 had no impact on operating cash flows, investing cash flows, financing cash flows and net change in total cash.