Summary of Significant Accounting Policies (Tables)
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12 Months Ended |
Dec. 31, 2020 |
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| Accounting Policies [Abstract] |
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| Schedule of Allowance for Doubtful Accounts |
A summary of activity in the allowance for doubtful accounts is as follows (amounts in thousands):
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Balance
Beginning
of Period |
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Charged
to Expense |
|
Write-Offs
and Other |
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Balance
End of
Period |
| Year Ended December 31, 2020 (Successor Company) |
$ |
3,828 |
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$ |
8,538 |
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$ |
(9,270) |
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$ |
3,096 |
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Period from September 1, 2019 through December 31, 2019 (Successor Company) |
$ |
— |
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$ |
3,828 |
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$ |
— |
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$ |
3,828 |
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Period from January 1, 2019 through August 31, 2019 (Predecessor Company) |
$ |
3,759 |
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$ |
7,558 |
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$ |
(11,317) |
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$ |
— |
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| Year Ended December 31, 2018 (Predecessor Company) |
$ |
4,162 |
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$ |
12,300 |
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$ |
(12,703) |
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$ |
3,759 |
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| Schedule of Useful Lives By Class of Asset |
Estimated useful lives by class of asset are as follows:
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| Leasehold improvements |
15 years or lease term, if shorter |
Computer systems and software |
3 - 5 years |
| Furniture and fixtures |
5 - 7 years |
Property and equipment consist of the following (amounts in thousands):
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December 31,
2020 |
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December 31,
2019 |
| Property and equipment, net: |
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| Leasehold improvements |
$ |
547 |
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$ |
397 |
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| Computer systems and software |
57,126 |
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43,915 |
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| Furniture and fixtures |
1,891 |
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1,561 |
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59,564 |
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45,873 |
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| Accumulated depreciation |
(17,621) |
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(3,777) |
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| Property and equipment, net |
$ |
41,943 |
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$ |
42,096 |
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| Schedule of Future Amortization Expense |
Based on subscriber accounts held at December 31, 2020, estimated amortization of subscriber accounts in the succeeding five fiscal years ending December 31 is as follows (amounts in thousands):
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| 2021 |
$ |
183,239 |
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| 2022 |
$ |
152,775 |
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| 2023 |
$ |
127,371 |
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| 2024 |
$ |
106,186 |
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| 2025 |
$ |
88,518 |
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| Schedule of Allowance for Expected Credit Losses |
The changes in the allowance for expected credit losses on its contract assets for the year ending December 31, 2020 are as follows (amounts in thousands):
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| Balance as of January 1, 2020 |
$ |
— |
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| Adoption of ASU 2016-13 |
(1,627) |
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| Adjusted balance as of January 1, 2020 |
$ |
(1,627) |
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| Provision for credit losses |
(2,436) |
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| Write-offs |
1,978 |
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| Balance as of December 31, 2020 |
$ |
(2,085) |
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| Schedule of Supplemental Cash Flow Information |
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Successor Company |
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Predecessor Company |
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Year Ended December 31, 2020 |
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Period from September 1, 2019 through December 31, 2019 |
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Period from January 1, 2019 through August 31, 2019 |
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Year Ended December 31, 2018 |
| State taxes paid, net |
$ |
2,532 |
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$ |
— |
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$ |
2,637 |
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$ |
2,569 |
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| Interest paid |
$ |
78,954 |
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$ |
28,467 |
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$ |
72,710 |
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$ |
147,632 |
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| Accrued capital expenditures |
$ |
572 |
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$ |
1,804 |
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$ |
1,405 |
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$ |
552 |
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| Earnout Payments liability |
$ |
114,603 |
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$ |
— |
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$ |
— |
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$ |
— |
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