0000950170-24-122512 | 10-Q | XBRL Viewer | Commscope Holding Company INC

Estimated Fair Value

Weighted Average Estimated Useful Life
(In Years)

Customer relationships

Existing technology

Total amortizable intangible assets

Print Document

Revenue From Contracts With Customers

9 Months Ended

Sep. 30, 2024

Revenue from Contract with Customer [Abstract]

Revenue From Contracts With Customers

5. REVENUE FROM CONTRACTS WITH CUSTOMERS

Disaggregated Net Sales

See Note 9 for the presentation of net sales by segment and geographic region.

Allowance for Doubtful Accounts


	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2024			2023			2024			2023
Allowance for doubtful accounts, beginning of period	$	18.5		$	25.1		$	24.3		$	25.2
Provision (benefit)		(1.0	)		1.5			(5.2	)		0.9
Write-offs		—			(0.5	)		(1.2	)		(0.3	)
Foreign exchange and other		0.4			(0.6	)		—			(0.3	)
Allowance for doubtful accounts, end of period	$	17.9		$	25.5		$	17.9		$	25.5

Customer Contract Balances

The following table provides the balance sheet location and amounts of contract assets, or unbilled accounts receivable, and contract liabilities, or deferred revenue, from contracts with customers:


Contract Balance Type	Balance Sheet Location	September 30, 2024		December 31, 2023
Unbilled accounts receivable	Accounts receivable, net of allowance for doubtful accounts	$	11.5	$	14.2

Deferred revenue - current	Accrued and other liabilities	$	99.4	$	84.4
Deferred revenue - noncurrent	Other noncurrent liabilities		79.0		70.6
Total contract liabilities		$	178.4	$	155.0

There were no material changes to contract asset balances for the nine months ended September 30, 2024 as a result of changes in estimates or impairments. The change in the contract liability balance from December 31, 2023 to September 30, 2024 was primarily due to upfront support billings to be recognized over the support term. During the three and nine months ended September 30, 2024, the Company recognized $18.4 million and $69.1 million, respectively, of revenue related to contract liabilities recorded as of December 31, 2023.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-URI https://asc.fasb.org/1943274/2147479806/606-10-50-9

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Acquisitions (Tables)

9 Months Ended

Sep. 30, 2024

Business Combinations [Abstract]

Preliminary Determination of Fair Value of Identifiable Assets Acquired and Liabilities Assumed

The following amounts represent the preliminary determination of the fair value of identifiable assets acquired and liabilities assumed in the Casa Transaction as of the acquisition date:


	Amounts Recognized as of Acquisition Date		Q3 Measurement Period Adjustments			Amounts Recognized as of Acquisition Date (As Adjusted)
Purchase price
Total cash consideration paid	$	45.1	$	—		$	45.1

Assets
Accounts receivable, net (1)	$	4.4	$	0.8		$	5.2
Inventories, net		13.6		(3.9	)		9.7
Property, plant and equipment		2.6		3.5			6.1
Goodwill		2.2		2.1			4.3
Identifiable intangible assets		24.1		(2.4	)		21.7
Other noncurrent assets		1.2		(0.1	)		1.1
Less: Liabilities assumed
Accounts payable and accrued and other liabilities		2.3		—			2.3
Other noncurrent liabilities		0.7		—			0.7
Fair value allocated to net assets acquired	$	45.1	$	—		$	45.1

(1)

The fair value of accounts receivable, net is $5.2 million with a gross contractual amount of $12.2 million. The Company expects $7.0 million to be uncollectible.

Summary of Preliminary Valuations of Finite Lived Intangible Assets Acquired

The table below summarizes the preliminary valuations of the intangible assets acquired that were determined by management to meet the criteria for recognition apart from goodwill and determined to have finite lives. The values presented below are preliminary estimates and are subject to change as management completes its valuation of the Casa Transaction:

Supplemental Financial Statement Information - Operating Lease Information (Detail) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Lessee, Lease, Description [Line Items]
Fair Value of Assets (Liability), Right of use assets	$ 139.3	$ 152.1
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Other noncurrent assets	Other noncurrent assets
Fair Value of Assets (Liability), Total lease liabilities	$ 34.1	$ 35.3
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	Accrued and other liabilities	Accrued and other liabilities
Fair Value of Assets (Liability), Total lease liabilities	$ 123.8	$ 135.9
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Other noncurrent liabilities	Other noncurrent liabilities
Fair Value of Assets (Liability), Total lease liabilities	$ 157.9	$ 171.2

Fair Value Measurements - Carrying Amounts, Estimated Fair Values and Valuation Input Levels of the Company's Debt Instruments, Interest Rate Swap Contracts and Foreign Currency Contracts (Detail) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Carrying Amount [Member] \| Liabilities [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Foreign currency contracts	$ 1.9	$ 3.6
Interest rate swap contracts	10.2	8.0
Carrying Amount [Member] \| Assets [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Foreign currency contracts	4.6	8.7
Interest rate swap contracts	0.0	0.0
Fair Value [Member] \| Liabilities [Member] \| Level 2 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Foreign currency contracts	1.9	3.6
Interest rate swap contracts	10.2	8.0
Fair Value [Member] \| Assets [Member] \| Level 2 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Foreign currency contracts	4.6	8.7
Interest rate swap contracts	0.0	0.0
7.125% Senior Notes Due 2028 [Member] \| Carrying Amount [Member] \| Liabilities [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Senior notes	641.6	641.6
7.125% Senior Notes Due 2028 [Member] \| Fair Value [Member] \| Liabilities [Member] \| Level 2 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Senior notes	535.7	301.6
5.00% Senior Notes Due 2027 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Senior notes	750.0	750.0
5.00% Senior Notes Due 2027 [Member] \| Carrying Amount [Member] \| Liabilities [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Senior notes	750.0	750.0
5.00% Senior Notes Due 2027 [Member] \| Fair Value [Member] \| Liabilities [Member] \| Level 2 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Senior notes	626.3	312.2
8.25% Senior Notes Due 2027 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Senior notes	866.9	866.9
8.25% Senior Notes Due 2027 [Member] \| Carrying Amount [Member] \| Liabilities [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Senior notes	866.9	866.9
8.25% Senior Notes Due 2027 [Member] \| Fair Value [Member] \| Liabilities [Member] \| Level 2 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Senior notes	778.1	454.9
6.00% Senior Notes Due 2025 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Senior notes	1,274.6	1,274.6
6.00% Senior Notes Due 2025 [Member] \| Carrying Amount [Member] \| Liabilities [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Senior notes	1,274.6	1,274.6
6.00% Senior Notes Due 2025 [Member] \| Fair Value [Member] \| Liabilities [Member] \| Level 2 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Senior notes	1,233.2	1,038.8
4.75% Senior Secured Notes Due 2029 [Member] \| Carrying Amount [Member] \| Liabilities [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Senior secured notes	1,250.0	1,250.0
4.75% Senior Secured Notes Due 2029 [Member] \| Fair Value [Member] \| Liabilities [Member] \| Level 2 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Senior notes	996.1	840.6
6.00% Senior Secured Notes Due 2026 [Member] \| Carrying Amount [Member] \| Liabilities [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Senior secured notes	1,500.0	1,500.0
6.00% Senior Secured Notes Due 2026 [Member] \| Fair Value [Member] \| Liabilities [Member] \| Level 2 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Senior notes	1,455.0	1,327.5
Senior Secured Term Loan Due 2026 (Member) \| Carrying Amount [Member] \| Liabilities [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Senior secured notes	3,040.0	3,064.0
Senior Secured Term Loan Due 2026 (Member) \| Fair Value [Member] \| Liabilities [Member] \| Level 2 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Senior notes	$ 2,948.8	$ 2,742.3

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Allowance for doubtful accounts receivable	$ 17.9	$ 24.3
Property, plant and equipment, accumulated depreciation	$ 757.5	$ 713.4
Series A convertible preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	200,000,000	200,000,000
Series A convertible preferred stock, shares issued	1,210,682	1,210,682
Series A convertible preferred stock, shares outstanding	1,162,085	1,162,085
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	1,300,000,000	1,300,000,000
Common stock, shares issued	215,857,513	212,108,634
Common stock, shares outstanding	215,857,513	212,108,634
Treasury stock, Shares	15,636,515	14,424,126

Series A Convertible Preferred Stock

9 Months Ended

Sep. 30, 2024

Equity [Abstract]

Series A Convertible Preferred Stock

11. SERIES A CONVERTIBLE PREFERRED STOCK

On April 4, 2019, the Company issued and sold 1,000,000 shares of the Convertible Preferred Stock to Carlyle for $1.0 billion, or $1,000 per share, pursuant to an Investment Agreement between the Company and Carlyle, dated November 8, 2018. The Convertible Preferred Stock is convertible, at the option of the holders, at any time into shares of CommScope common stock at an initial conversion rate of 36.3636 shares of common stock per share of the Convertible Preferred Stock (equivalent to $27.50 per common share). The conversion rate is subject to customary antidilution and other adjustments. As of September 30, 2024, the Company had authorized 1,400,000 shares of the Convertible Preferred Stock.

Holders of the Convertible Preferred Stock are entitled to a cumulative dividend at the rate of 5.5% per year, payable quarterly in arrears. Dividends can be paid in cash, in-kind through the issuance of additional shares of the Convertible Preferred Stock or any combination of the two, at the Company’s option. During the three and nine months ended September 30, 2024 and 2023, the Company paid dividends in-kind of $16.4 million and $48.6 million, respectively, and $15.5 million and $45.9 million, respectively, which were recorded as additional Convertible Preferred Stock in the Condensed Consolidated Balance Sheets.

Supplemental Financial Statement Information - Changes in Accumulated Other Comprehensive Loss, Net of Tax (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance			$ (2,968.8)
Ending balance	$ (3,322.5)	$ (2,490.1)	(3,322.5)	$ (2,490.1)
Foreign Currency Translation [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(253.7)	(249.6)	(232.4)	(270.3)
Other comprehensive income (loss)	48.1	(45.1)	(0.6)	(24.4)
Amounts reclassified from AOCL	0.0	0.0	27.4	0.0
Ending balance	(205.6)	(294.7)	(205.6)	(294.7)
Defined Benefit Plan Activity [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(15.0)	(14.9)	(14.9)	(14.8)
Other comprehensive income (loss)	0.1	0.1	0.0	0.0
Ending balance	(14.9)	(14.8)	(14.9)	(14.8)
Hedging Instruments [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(12.0)	(11.7)	(19.4)	(11.2)
Other comprehensive income (loss)	(10.7)	3.8	(3.3)	3.3
Ending balance	(22.7)	(7.9)	(22.7)	(7.9)
Accumulated Other Comprehensive Loss [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(280.7)	(276.2)	(266.7)	(296.3)
Ending balance	$ (243.2)	$ (317.4)	$ (243.2)	$ (317.4)

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

- Definition

Amount after tax, before reclassification adjustments of other comprehensive income (loss).

+ References + Details

- Definition

Amount after tax of reclassification adjustments of other comprehensive income (loss).

+ References + Details

- Definition

Amount of equity (deficit) attributable to parent. Excludes temporary equity and equity attributable to noncontrolling interest.

+ References

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+ Details

Background and Basis of Presentation - Summary of Activity in Product Warranty Accrual, Included in Accrued and Other Liabilities and Other Noncurrent Liabilities on the Condensed Consolidated Balance Sheets (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Product warranty accrual, beginning of period	$ 19.7	$ 29.5	$ 20.6	$ 28.3
Provision for warranty claims	5.6	0.7	14.3	9.6
Warranty claims paid	(4.7)	(3.9)	(14.3)	(11.7)
Foreign exchange	0.0	(0.1)	0.0	0.0
Product warranty accrual, end of period	$ 20.6	$ 26.2	$ 20.6	$ 26.2

Restructuring Costs (Credits), Net - Activity within Liability Established for Restructuring Actions (Detail) - USD ($)

3 Months Ended

9 Months Ended

Sep. 30, 2024

Restructuring Cost and Reserve [Line Items]

Beginning balance

$ 11,600,000

Ending Balance

$ 2,900,000

2,900,000

CommScope NEXT Restructuring Plan [Member]

Restructuring Cost and Reserve [Line Items]

Beginning balance

9,900,000

11,700,000

Additional expense (credits), net

(1,100,000)

30,300,000

Cash paid

(8,100,000)

(24,400,000)

Third-party indemnification receivable

^[1]

200,000

7,700,000

Foreign exchange and other non-cash items

2,000,000

(22,400,000)

Ending Balance

2,900,000

Restructuring Cost and Reserve [Line Items]

Beginning balance

9,900,000

11,700,000

Additional expense (credits), net

500,000

7,500,000

Cash paid

(7,600,000)

(23,500,000)

Third-party indemnification receivable

^[1]

100,000

7,100,000

Foreign exchange and other non-cash items

100,000

Ending Balance

2,900,000

Other Costs [Member] | CommScope NEXT Restructuring Plan [Member]

Restructuring Cost and Reserve [Line Items]

Beginning balance

Additional expense (credits), net

(1,600,000)

22,800,000

Cash paid

(500,000)

(900,000)

Third-party indemnification receivable

^[1]

100,000

600,000

Foreign exchange and other non-cash items

2,000,000

(22,500,000)

Ending Balance

$ 0

[1]	Reflects the reimbursement of severance and other costs from a third-party, for which the Company is obligated to pay.

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Segments and Geographic Information - Summary of Net Sales, Adjusted EBITDA, Depreciation Expense and Additions to PP&E by Reportable Segment (Detail) - USD ($)
$ in Millions

3 Months Ended

9 Months Ended

Sep. 30, 2024

Sep. 30, 2023

Sep. 30, 2024

Sep. 30, 2023

Segment Reporting Information [Line Items]

Net sales

$ 1,082.2

$ 1,053.4

$ 3,036.7

$ 3,642.1

Total segment adjusted EBITDA

204.2

156.8

474.6

544.9

Amortization of intangible assets

(56.8)

(68.9)

(181.4)

(231.8)

Restructuring (costs) credits, net

0.9

(22.0)

(30.6)

(43.1)

Equity-based compensation

(21.1)

(35.5)

Asset impairments

(17.2)

(895.1)

Transaction, transformation and integration costs

(19.5)

(14.6)

(45.8)

(17.7)

Acquisition accounting adjustments

0.0

(0.4)

0.0

(1.3)

Patent claims and litigation settlements

0.0

3.5

0.0

3.5

Recovery of Russian accounts receivable

0.0

2.0

Cyber incident costs

0.0

(1.5)

0.0

(5.1)

Depreciation

(19.3)

(26.0)

(62.0)

(75.2)

Consolidated operating income (loss)

102.2

(408.4)

136.5

(278.8)

Additions to property, plant and equipment

6.5

7.6

17.3

39.8

Continuing Operations [Member]

Segment Reporting Information [Line Items]

Equity-based compensation

(7.3)

(9.4)

(18.3)

(29.1)

Asset impairments

0.0

(425.9)

0.0

(425.9)

CCS [Member]

Segment Reporting Information [Line Items]

Net sales

736.7

630.5

2,069.7

2,148.6

Total segment adjusted EBITDA

173.9

80.9

440.3

314.9

Depreciation

13.5

15.2

41.0

45.4

Additions to property, plant and equipment

5.0

4.5

11.9

23.9

NICS [Member]

Segment Reporting Information [Line Items]

Net sales

157.5

202.6

398.8

637.3

Total segment adjusted EBITDA

27.8

39.2

6.7

133.2

Depreciation

1.5

2.5

5.3

7.5

Additions to property, plant and equipment

0.6

0.8

1.4

2.3

ANS [Member]

Segment Reporting Information [Line Items]

Net sales

188.0

220.3

568.2

856.2

Total segment adjusted EBITDA

18.7

56.2

66.7

165.9

Depreciation

4.3

5.6

14.2

17.4

Additions to property, plant and equipment

0.5

1.4

2.3

9.1

Corporate and Other [Member]

Segment Reporting Information [Line Items]

Total segment adjusted EBITDA

^[1]

(16.2)

(19.5)

(39.1)

(69.1)

Depreciation

^[1]

0.0

2.7

1.5

4.9

Additions to property, plant and equipment

^[1]

$ 0.4

$ 0.9

$ 1.7

$ 4.5

[1]

The corporate and other line item above reflects general corporate costs that were previously allocated to the OWN segment, DAS business unit and Home segment. These indirect expenses have been classified as continuing operations, since the costs were not directly attributable to these discontinued operations. Beginning in the first quarter of 2024, the corporate and other costs related to the Home segment have been reallocated to the Company’s remaining segments and partially offset by income from the Vantiva TSA. The corporate and other costs related to the OWN segment and DAS business unit will be reallocated to the Company’s remaining segments beginning in the first quarter of 2025.

Fair Value Measurements

9 Months Ended

Sep. 30, 2024

Fair Value Disclosures [Abstract]

Fair Value Measurements

8. FAIR VALUE MEASUREMENTS

The Company’s financial instruments consist primarily of cash and cash equivalents, trade receivables, trade payables, debt instruments, interest rate swap contracts and foreign currency contracts. For cash and cash equivalents, trade receivables and trade payables, the carrying amounts of these financial instruments as of September 30, 2024 and December 31, 2023 were considered representative of their fair values due to their short terms to maturity. The fair values of the Company’s debt instruments, interest rate swap contracts and foreign currency contracts were based on indicative quotes.

Fair value measurements using quoted prices in active markets for identical assets and liabilities fall within Level 1 of the fair value hierarchy, measurements using significant other observable inputs fall within Level 2, and measurements using significant unobservable inputs fall within Level 3.

The carrying amounts, estimated fair values and valuation input levels of the Company’s debt instruments, interest rate swap contracts and foreign currency contracts as of September 30, 2024 and December 31, 2023, are as follows:


	September 30, 2024				December 31, 2023
	Carrying Amount		Fair Value		Carrying Amount		Fair Value		Valuation Inputs
Assets:
Foreign currency contracts	$	4.6	$	4.6	$	8.7	$	8.7	Level 2
Interest rate swap contracts		—		—		—		—	Level 2
Liabilities:
7.125% senior notes due 2028	$	641.6	$	535.7	$	641.6	$	301.6	Level 2
5.00% senior notes due 2027		750.0		626.3		750.0		312.2	Level 2
8.25% senior notes due 2027		866.9		778.1		866.9		454.9	Level 2
6.00% senior notes due 2025		1,274.6		1,233.2		1,274.6		1,038.8	Level 2
4.75% senior secured notes due 2029		1,250.0		996.1		1,250.0		840.6	Level 2
6.00% senior secured notes due 2026		1,500.0		1,455.0		1,500.0		1,327.5	Level 2
Senior secured term loan due 2026		3,040.0		2,948.8		3,064.0		2,742.3	Level 2
Foreign currency contracts		1.9		1.9		3.6		3.6	Level 2
Interest rate swap contracts		10.2		10.2		8.0		8.0	Level 2

Non-Recurring Fair Value Measurements

The Company recorded the assets acquired and liabilities assumed from the Casa Transaction during the second quarter of 2024, as well as the respective measurement adjustments in the third quarter of 2024. The fair values were determined using Level 3 valuation inputs. See Note 2 in these unaudited condensed consolidated financial statements.

During the first quarter of 2024, the Company recognized a loss on impairment of unutilized real estate within restructuring costs, net on the Condensed Consolidated Statements of Operations. The fair value was determined using Level 3 valuation inputs. See Note 10 in these unaudited condensed consolidated financial statements.

In the third quarter of 2023, a goodwill impairment charge of $425.9 million was recorded related to the ANS reporting unit within the ANS segment. The fair value was determined using Level 3 valuation inputs. See Note 1 and Note 4 in these unaudited condensed consolidated financial statements.

These fair value estimates are based on pertinent information available to management as of the valuation date. Although management is not aware of any factors that would significantly affect these fair value estimates, such amounts have not been comprehensively revalued for purposes of these financial statements since those dates, and current estimates of fair value may differ significantly from the amounts presented.

Discontinued Operations - Summary of components of income (loss) from Discontinued Operations (Details) - USD ($)
$ in Millions

3 Months Ended

9 Months Ended

Jan. 09, 2024

Sep. 30, 2024

Mar. 31, 2024

Sep. 30, 2023

Sep. 30, 2024

Sep. 30, 2023

Operating expenses:

Asset impairments

$ 17.2

$ 895.1

Income (loss) from operations of discontinued businesses before income taxes

$ 75.3

$ 5.5

$ 48.3

Income tax (expense) benefit

(22.1)

$ 124.1

(74.7)

83.6

Discontinued Operations, Held-for-Sale [Member]

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Net sales

345.5

546.1

978.8

1,877.3

Cost of sales

201.8

380.2

590.8

^[1]

1,344.3

^[1]

Gross profit (loss)

143.7

165.9

388.0

533.0

Operating expenses:

Selling, general and administrative

31.7

43.4

92.4

146.1

Research and development

21.1

40.1

60.0

134.3

Amortization of purchased intangible assets

1.6

32.4

18.0

97.3

Restructuring costs (credits), net

0.0

(1.7)

0.0

8.5

Asset impairments

0.0

469.2

17.2

469.2

Total operating expenses

54.4

583.4

187.6

855.4

Operating income (loss)

89.3

(417.5)

200.4

(322.4)

Other income (expense), net

2.0

(1.5)

(21.8)

^[2]

(5.0)

^[2]

Income (loss) from operations of discontinued businesses before income taxes

91.3

(419.0)

178.6

(327.4)

Loss on disposal of discontinued operations before income taxes

$ (53.8)

(5.5)

0.0

(53.8)

0.0

Income tax (expense) benefit

(22.1)

124.1

(74.7)

83.6

Income (loss) from discontinued operations, net of income taxes

63.7

(294.9)

50.1

(243.8)

Discontinued Operations, Held-for-Sale [Member] | OWN Segment [Member]

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Net sales

258.5

210.3

710.8

697.5

Cost of sales

147.8

129.6

411.5

^[1]

434.9

^[1]

Gross profit (loss)

110.7

80.7

299.3

262.6

Operating expenses:

Selling, general and administrative

21.1

12.3

52.2

35.9

Research and development

13.3

9.8

37.9

35.3

Amortization of purchased intangible assets

1.0

4.9

8.5

15.2

Restructuring costs (credits), net

0.0

(0.4)

0.0

(1.8)

Asset impairments

0.0

Total operating expenses

35.4

26.6

98.6

84.6

Operating income (loss)

75.3

54.1

200.7

178.0

Other income (expense), net

2.2

(1.4)

(3.5)

^[2]

(5.9)

^[2]

Income (loss) from operations of discontinued businesses before income taxes

77.5

52.7

197.2

172.1

Loss on disposal of discontinued operations before income taxes

0.0

Income tax (expense) benefit

(15.6)

(14.3)

(48.0)

(40.7)

Income (loss) from discontinued operations, net of income taxes

61.9

38.4

149.2

131.4

Discontinued Operations, Held-for-Sale [Member] | Distributed Antenna Systems Segment [Member]

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Net sales

73.6

86.4

222.0

263.7

Cost of sales

40.0

46.3

118.9

^[1]

148.3

^[1]

Gross profit (loss)

33.6

40.1

103.1

115.4

Operating expenses:

Selling, general and administrative

9.5

10.3

26.4

33.0

Research and development

7.8

7.4

22.0

23.3

Amortization of purchased intangible assets

0.6

1.6

3.1

4.9

Restructuring costs (credits), net

0.0

(1.7)

0.0

4.0

Asset impairments

0.0

Total operating expenses

17.9

17.6

51.5

65.2

Operating income (loss)

15.7

22.5

51.6

50.2

Other income (expense), net

0.0

^[2]

0.0

^[2]

Income (loss) from operations of discontinued businesses before income taxes

15.7

22.5

51.6

50.2

Loss on disposal of discontinued operations before income taxes

0.0

Income tax (expense) benefit

(3.2)

(6.1)

(12.5)

(11.9)

Income (loss) from discontinued operations, net of income taxes

12.5

16.4

39.1

38.3

Discontinued Operations, Held-for-Sale [Member] | Home Segment [Member]

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Net sales

13.4

249.4

46.0

916.1

Cost of sales

14.0

204.3

60.4

^[1]

761.1

^[1]

Gross profit (loss)

(0.6)

45.1

(14.4)

155.0

Operating expenses:

Selling, general and administrative

1.1

20.8

13.8

77.2

Research and development

0.0

22.9

0.1

75.7

Amortization of purchased intangible assets

0.0

25.9

6.4

77.2

Restructuring costs (credits), net

0.0

0.4

0.0

6.3

Asset impairments

0.0

469.2

17.2

469.2

Total operating expenses

1.1

539.2

37.5

705.6

Operating income (loss)

(1.7)

(494.1)

(51.9)

(550.6)

Other income (expense), net

(0.2)

(0.1)

(18.3)

^[2]

0.9

^[2]

Income (loss) from operations of discontinued businesses before income taxes

(1.9)

(494.2)

(70.2)

(549.7)

Loss on disposal of discontinued operations before income taxes

(5.5)

0.0

(53.8)

0.0

Income tax (expense) benefit

(3.3)

144.5

(14.2)

136.2

Income (loss) from discontinued operations, net of income taxes

$ (10.7)

$ (349.7)

$ (138.2)

$ (413.5)

[1]	Cost of sales includes a charge of $19.5 million for excess and obsolete inventory related to the Home business during the nine months ended September 30, 2024.
[2]	Other income (expense), net includes a loss on equity investment of $17.0 million for the nine months ended September 30, 2024.

Segments and Geographic Information - Summary of Net Sales by Reportable Segment, Disaggregated Based on Geographic Region (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Revenues From External Customers And Long Lived Assets [Line Items]
Net sales	$ 1,082.2	$ 1,053.4	$ 3,036.7	$ 3,642.1
CCS [Member]
Revenues From External Customers And Long Lived Assets [Line Items]
Net sales	736.7	630.5	2,069.7	2,148.6
NICS [Member]
Revenues From External Customers And Long Lived Assets [Line Items]
Net sales	157.5	202.6	398.8	637.3
ANS [Member]
Revenues From External Customers And Long Lived Assets [Line Items]
Net sales	188.0	220.3	568.2	856.2
United States [Member]
Revenues From External Customers And Long Lived Assets [Line Items]
Net sales	714.6	693.2	1,985.5	2,414.0
United States [Member] \| CCS [Member]
Revenues From External Customers And Long Lived Assets [Line Items]
Net sales	476.9	383.8	1,337.7	1,389.8
United States [Member] \| NICS [Member]
Revenues From External Customers And Long Lived Assets [Line Items]
Net sales	105.1	134.7	247.3	387.2
United States [Member] \| ANS [Member]
Revenues From External Customers And Long Lived Assets [Line Items]
Net sales	132.6	174.7	400.5	637.0
Europe, Middle East and Africa (EMEA) [Member]
Revenues From External Customers And Long Lived Assets [Line Items]
Net sales	159.3	153.1	431.7	524.7
Europe, Middle East and Africa (EMEA) [Member] \| CCS [Member]
Revenues From External Customers And Long Lived Assets [Line Items]
Net sales	120.1	100.6	321.8	317.8
Europe, Middle East and Africa (EMEA) [Member] \| NICS [Member]
Revenues From External Customers And Long Lived Assets [Line Items]
Net sales	27.1	37.4	72.1	130.0
Europe, Middle East and Africa (EMEA) [Member] \| ANS [Member]
Revenues From External Customers And Long Lived Assets [Line Items]
Net sales	12.1	15.1	37.8	76.9
Asia Pacific (APAC) [Member]
Revenues From External Customers And Long Lived Assets [Line Items]
Net sales	126.6	126.1	375.7	390.7
Asia Pacific (APAC) [Member] \| CCS [Member]
Revenues From External Customers And Long Lived Assets [Line Items]
Net sales	97.3	99.1	292.7	286.3
Asia Pacific (APAC) [Member] \| NICS [Member]
Revenues From External Customers And Long Lived Assets [Line Items]
Net sales	18.3	20.6	57.4	86.7
Asia Pacific (APAC) [Member] \| ANS [Member]
Revenues From External Customers And Long Lived Assets [Line Items]
Net sales	11.0	6.4	25.6	17.7
Caribbean and Latin America (CALA) [Member]
Revenues From External Customers And Long Lived Assets [Line Items]
Net sales	47.5	50.0	144.1	211.0
Caribbean and Latin America (CALA) [Member] \| CCS [Member]
Revenues From External Customers And Long Lived Assets [Line Items]
Net sales	26.3	34.2	75.2	112.4
Caribbean and Latin America (CALA) [Member] \| NICS [Member]
Revenues From External Customers And Long Lived Assets [Line Items]
Net sales	4.9	2.5	14.1	17.3
Caribbean and Latin America (CALA) [Member] \| ANS [Member]
Revenues From External Customers And Long Lived Assets [Line Items]
Net sales	16.3	13.3	54.8	81.3
Canada [Member]
Revenues From External Customers And Long Lived Assets [Line Items]
Net sales	34.2	31.0	99.7	101.7
Canada [Member] \| CCS [Member]
Revenues From External Customers And Long Lived Assets [Line Items]
Net sales	16.1	12.8	42.3	42.3
Canada [Member] \| NICS [Member]
Revenues From External Customers And Long Lived Assets [Line Items]
Net sales	2.1	7.4	7.9	16.1
Canada [Member] \| ANS [Member]
Revenues From External Customers And Long Lived Assets [Line Items]
Net sales	$ 16.0	$ 10.8	$ 49.5	$ 43.3

Goodwill

9 Months Ended

Sep. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

4. GOODWILL

The following table presents the activity in goodwill by reportable segment:


	December 31, 2023							Activity		September 30, 2024
	Goodwill		Accumulated Impairment Losses			Total		Foreign Exchange and Other		Goodwill		Accumulated Impairment Losses			Total
CCS	$	2,291.0	$	(150.6	)	$	2,140.4	$	4.2	$	2,295.2	$	(150.6	)	$	2,144.6
NICS		537.1		(41.2	)		495.9		0.6		537.7		(41.2	)		496.5
ANS		1,995.4		(1,734.0	)		261.4		4.4		1,999.8		(1,734.0	)		265.8
Total	$	4,823.5	$	(1,925.8	)	$	2,897.7	$	9.2	$	4,832.7	$	(1,925.8	)	$	2,906.9

Goodwill at December 31, 2023 reflects the reorganization of the Company’s segment structure, as disclosed in Note 1. As a result of the new segment structure and certain other intrasegment realignments, as of January 1, 2024, the Company assessed goodwill for impairment due to changes in the composition of certain reporting units. The Company performed impairment testing immediately before the change and after the change once goodwill was reallocated and determined that no goodwill impairment existed.

Additional goodwill of $4.3 million resulting from the Casa acquisition is included in the other activity above as of September 30, 2024.

For the quarter ended September 30,2024, the Company completed an impairment analysis for goodwill recorded within the NICS reporting unit, which is impacted by the pending divestiture of the DAS business. The quantitative assessment was used, and the Company determined that the fair value of the impacted reporting unit exceeded the carrying value and that no impairment existed immediately prior to or subsequent to allocating goodwill to the disposal group that includes our DAS business. The Company allocated $113.5 million of goodwill to the disposal group based on the relative fair value of the DAS business as compared to the NICS reporting unit, along with $504.3 million of goodwill that was entirely attributable to its OWN reporting unit. Total goodwill for the disposal group of $617.8 million has been classified as held for sale as of September 30, 2024.

During the third quarter of 2023, the Company concluded that a triggering event occurred, primarily due to a sustained decrease in the market value of the Company’s debt and common stock affecting the overall business and changes in expected future cash flows due to reduced earnings forecasts and current macroeconomic conditions, including a rising interest rate environment. As a result, the Company performed an interim quantitative goodwill impairment test as of September 30, 2023 for its ANS and BDCC reporting units and recorded a goodwill impairment charge of $425.9 million in asset impairments in the Condensed Consolidated Statements of Operations to partially write down the carrying amount of the goodwill in the ANS reporting unit. As of September 30, 2023, there was no impairment identified in the BDCC reporting unit within the CCS reportable segment.

Supplemental Financial Statement Information - Accrued and Other Liabilities (Detail) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Accrued and Other Liabilities [Abstract]
Compensation and employee benefit liabilities	$ 152.5	$ 150.5
Deferred revenue	99.4	84.4
Accrued interest	54.7	113.2
Operating lease liabilities	34.1	35.3
Product warranty accrual	18.9	19.2
Other	167.4	164.2
Total accrued and other liabilities	$ 527.0	$ 566.8

Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2024

Fair Value Disclosures [Abstract]

Carrying Amounts, Estimated Fair Values and Valuation Input Levels of the Company's Debt Instruments, Interest Rate Swap Contracts and Foreign Currency Contracts


	September 30, 2024				December 31, 2023
	Carrying Amount		Fair Value		Carrying Amount		Fair Value		Valuation Inputs
Assets:
Foreign currency contracts	$	4.6	$	4.6	$	8.7	$	8.7	Level 2
Interest rate swap contracts		—		—		—		—	Level 2
Liabilities:
7.125% senior notes due 2028	$	641.6	$	535.7	$	641.6	$	301.6	Level 2
5.00% senior notes due 2027		750.0		626.3		750.0		312.2	Level 2
8.25% senior notes due 2027		866.9		778.1		866.9		454.9	Level 2
6.00% senior notes due 2025		1,274.6		1,233.2		1,274.6		1,038.8	Level 2
4.75% senior secured notes due 2029		1,250.0		996.1		1,250.0		840.6	Level 2
6.00% senior secured notes due 2026		1,500.0		1,455.0		1,500.0		1,327.5	Level 2
Senior secured term loan due 2026		3,040.0		2,948.8		3,064.0		2,742.3	Level 2
Foreign currency contracts		1.9		1.9		3.6		3.6	Level 2
Interest rate swap contracts		10.2		10.2		8.0		8.0	Level 2

Revenue From Contracts With Customers (Tables)

9 Months Ended

Sep. 30, 2024

Revenue from Contract with Customer [Abstract]

Allowance for Doubtful Accounts


	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2024			2023			2024			2023
Allowance for doubtful accounts, beginning of period	$	18.5		$	25.1		$	24.3		$	25.2
Provision (benefit)		(1.0	)		1.5			(5.2	)		0.9
Write-offs		—			(0.5	)		(1.2	)		(0.3	)
Foreign exchange and other		0.4			(0.6	)		—			(0.3	)
Allowance for doubtful accounts, end of period	$	17.9		$	25.5		$	17.9		$	25.5

Summary of the Balance Sheet Location and Amounts of Contract Assets and Liabilities from Contracts with Customers

The following table provides the balance sheet location and amounts of contract assets, or unbilled accounts receivable, and contract liabilities, or deferred revenue, from contracts with customers:


Contract Balance Type	Balance Sheet Location	September 30, 2024		December 31, 2023
Unbilled accounts receivable	Accounts receivable, net of allowance for doubtful accounts	$	11.5	$	14.2

Deferred revenue - current	Accrued and other liabilities	$	99.4	$	84.4
Deferred revenue - noncurrent	Other noncurrent liabilities		79.0		70.6
Total contract liabilities		$	178.4	$	155.0

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Millions	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ (33.0)	$ (828.7)	$ (347.8)	$ (925.7)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-6

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-9

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 60
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476176/805-60-65-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 323
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (g)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478666/740-323-65-2

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(20))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 323
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481687/323-10-50-3

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 28
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482907/825-10-50-28

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482765/220-10-50-6

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
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+ Details

Discontinued Operations - Summary of Loss on Disposal of Home business (Details) - Discontinued Operations [Member] - USD ($) $ in Millions		3 Months Ended		9 Months Ended
	Jan. 09, 2024	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Fair value of shares issued to seller	$ 17.0
Total disposal consideration	17.0
Carrying value of net assets sold	(43.4)
Loss on disposal of Home business before income taxes and reclassification of foreign currency translation	(26.4)
Reclassification of foreign currency translation	(27.4)
Loss on disposal of Home business before income taxes	(53.8)	$ (5.5)	$ 0.0	$ (53.8)	$ 0.0
Income tax expense	(21.5)
Loss on disposal of Home business, net of income taxes	$ (75.3)

Fair Value Measurements - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment of goodwill	$ 0.0	$ 425.9	$ 0.0	$ 425.9
Fair Value, Nonrecurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment of goodwill		$ 425.9

Background and Basis of Presentation - Summary of EPS, Weighted Average Common Shares and Potential Common Shares Outstanding (Detail) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Numerator:
Loss from continuing operations	$ (96.7)	$ (533.8)	$ (397.9)	$ (681.9)
Income (loss) from discontinued operations, net of tax	63.7	(294.9)	50.1	(243.8)
Net loss	(33.0)	(828.7)	(347.8)	(925.7)
Dividends on Series A convertible preferred stock	(16.4)	(15.5)	(48.6)	(45.9)
Net loss attributable to common stockholders	$ (49.4)	$ (844.2)	$ (396.4)	$ (971.6)
Denominator:
Weighted average common shares outstanding - basic	215.9	211.9	213.9	210.4
Dilutive effect of as-if converted Series A convertible preferred stock	0.0	0.0	0.0	0.0
Dilutive effect of equity-based awards	0.0	0.0	0.0	0.0
Weighted average common shares outstanding - diluted	215.9	211.9	213.9	210.4
Basic:
Loss from continuing operations per share	$ (0.52)	$ (2.59)	$ (2.09)	$ (3.46)
Earnings (loss) from discontinued operations per share	0.29	(1.39)	0.24	(1.16)
Loss per share	(0.23)	(3.98)	(1.85)	(4.62)
Diluted:
Loss from continuing operations per share	(0.52)	(2.59)	(2.09)	(3.46)
Earnings (loss) from discontinued operations per share	0.29	(1.39)	0.24	(1.16)
Earnings (loss) per share	$ (0.23)	$ (3.98)	$ (1.85)	$ (4.62)

Discontinued Operations - Summary of components of income (loss) from Discontinued Operations (Parenthetical) (Details) - Discontinued Operations [Member] - USD ($)
$ in Millions

3 Months Ended

9 Months Ended

Sep. 30, 2024

Sep. 30, 2023

Sep. 30, 2024

Sep. 30, 2023

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Cost of sales

$ 201.8

$ 380.2

$ 590.8

^[1]

$ 1,344.3

^[1]

Other income (expense), net

$ 2.0

$ (1.5)

(21.8)

^[2]

$ (5.0)

^[2]

Obsolete Inventory [Member]

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Cost of sales

19.5

Loss on Equity Investment [Member]

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Other income (expense), net

$ 17.0

[1]	Cost of sales includes a charge of $19.5 million for excess and obsolete inventory related to the Home business during the nine months ended September 30, 2024.
[2]	Other income (expense), net includes a loss on equity investment of $17.0 million for the nine months ended September 30, 2024.

Supplemental Financial Statement Information (Tables)

9 Months Ended

Sep. 30, 2024

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Accounts Receivable


	September 30, 2024			December 31, 2023
Accounts receivable - trade	$	674.8		$	600.3
Accounts receivable - other		7.9			16.1
Allowance for doubtful accounts		(17.9	)		(24.3	)
Total accounts receivable, net	$	664.8		$	592.1

Inventories


	September 30, 2024		December 31, 2023
Raw materials	$	423.5	$	478.3
Work in process		161.6		119.9
Finished goods		258.4		302.6
Total inventories, net	$	843.5	$	900.8

Accrued and Other Liabilities


	September 30, 2024		December 31, 2023
Compensation and employee benefit liabilities	$	152.5	$	150.5
Deferred revenue		99.4		84.4
Accrued interest		54.7		113.2
Operating lease liabilities		34.1		35.3
Product warranty accrual		18.9		19.2
Other		167.4		164.2
Total accrued and other liabilities	$	527.0	$	566.8

Operating Lease Information


	Balance Sheet Location	September 30, 2024		December 31, 2023
Right of use assets	Other noncurrent assets	$	139.3	$	152.1

Lease liabilities - current	Accrued and other liabilities	$	34.1	$	35.3
Lease liabilities - noncurrent	Other noncurrent liabilities		123.8		135.9
Total lease liabilities		$	157.9	$	171.2

Changes in Accumulated Other Comprehensive Loss, Net of Tax

Accumulated Other Comprehensive Loss

The following table presents changes in accumulated other comprehensive loss (AOCL), net of tax:


	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2024			2023			2024			2023
Foreign currency translation
Balance at beginning of period	$	(253.7	)	$	(249.6	)	$	(232.4	)	$	(270.3	)
Other comprehensive income (loss)		48.1			(45.1	)		(0.6	)		(24.4	)
Amounts reclassified from AOCL		—			—			27.4			—
Balance at end of period	$	(205.6	)	$	(294.7	)	$	(205.6	)	$	(294.7	)

Defined benefit plan activity
Balance at beginning of period	$	(15.0	)	$	(14.9	)	$	(14.9	)	$	(14.8	)
Other comprehensive income		0.1			0.1			—			—
Balance at end of period	$	(14.9	)	$	(14.8	)	$	(14.9	)	$	(14.8	)

Hedging instruments
Balance at beginning of period	$	(12.0	)	$	(11.7	)	$	(19.4	)	$	(11.2	)
Other comprehensive income (loss)		(10.7	)		3.8			(3.3	)		3.3
Balance at end of period	$	(22.7	)	$	(7.9	)	$	(22.7	)	$	(7.9	)
Net AOCL at end of period	$	(243.2	)	$	(317.4	)	$	(243.2	)	$	(317.4	)

Cash Flow Information


	Nine Months Ended
	September 30,
	2024		2023
Cash paid during the period for:
Income taxes, net of refunds	$	75.5	$	85.5
Interest		543.1		546.6
Non-cash investing activities:
Equity method investment from divestiture		17.0		—

Acquisitions

9 Months Ended

Sep. 30, 2024

Business Combinations [Abstract]

Acquisition

2. ACQUISITIONS

On June 7, 2024, the Company completed the acquisition of certain assets of Casa Systems, Inc. and its subsidiaries (Casa), which provides telecommunication infrastructure equipment and software-centric infrastructure solutions that allow cable service providers to deliver voice, video and data services over a single platform. The acquired assets included, among other things, accounts receivable, specified inventory, intellectual property and intellectual property rights, certain specified contracts, including facility leases, equipment and other personal property (collectively, the Casa Assets). As part of the Casa Transaction, the Company assumed certain specified liabilities, including certain cure costs related to assumed contracts and liabilities under such contracts and relating to the employment of continuing employees, in each case, arising after the consummation of the acquisition (collectively, the Casa Liabilities).

The sale was conducted pursuant to the Bid Procedures established in the chapter 11 cases of Casa Systems, Inc. and certain affiliates in the Bankruptcy Court. Pursuant to the Bid Procedures, the Company was designated as the successful bidder following an auction held on May 29, 2024. On June 5, 2024, the Bankruptcy Court entered an order authorizing the sale of the Casa Assets to the Company pursuant to section 363 of the U.S. Bankruptcy Code (subject to the terms thereof). The sale closed on June 7, 2024 and, at such time, the Company funded the purchase price of $45.1 million and settled certain assumed Casa Liabilities, with cash on hand.

The Company plans to integrate this strategic acquisition into its ANS segment and expects the acquisition to strengthen its ANS segment’s position by enhancing its virtual CMTS and PON product offerings, which will enable customers to migrate to DAA solutions at their own speed, and further grow its customer base.

The Company recorded the purchase of the Casa Transaction using the acquisition method of accounting in accordance with ASC Topic 805, Business Combinations, and, accordingly, recognized the assets acquired and liabilities assumed at their fair values as of the date of acquisition. As of September 30, 2024, the valuation studies necessary to determine the fair market value of the assets acquired and liabilities assumed are preliminary, including the validation of the underlying cash flows used to determine the fair value of the identified intangible assets. The final determination of the fair value of certain assets and liabilities will be completed within the one-year measurement period from the date of acquisition, which is necessary to adequately analyze all the factors used in establishing the asset and liability fair values as of the acquisition date, including, but not limited to intangible assets, accounts receivable, inventory and personal property.

The following amounts represent the preliminary determination of the fair value of identifiable assets acquired and liabilities assumed in the Casa Transaction as of the acquisition date:


	Amounts Recognized as of Acquisition Date		Q3 Measurement Period Adjustments			Amounts Recognized as of Acquisition Date (As Adjusted)
Purchase price
Total cash consideration paid	$	45.1	$	—		$	45.1

Assets
Accounts receivable, net (1)	$	4.4	$	0.8		$	5.2
Inventories, net		13.6		(3.9	)		9.7
Property, plant and equipment		2.6		3.5			6.1
Goodwill		2.2		2.1			4.3
Identifiable intangible assets		24.1		(2.4	)		21.7
Other noncurrent assets		1.2		(0.1	)		1.1
Less: Liabilities assumed
Accounts payable and accrued and other liabilities		2.3		—			2.3
Other noncurrent liabilities		0.7		—			0.7
Fair value allocated to net assets acquired	$	45.1	$	—		$	45.1

(1)

The fair value of accounts receivable, net is $5.2 million with a gross contractual amount of $12.2 million. The Company expects $7.0 million to be uncollectible.

The impact of measurement period adjustments to the Condensed Consolidated Statements of Operations was immaterial for the three and nine months ended September 30, 2024.

The goodwill arising from the Casa Transaction is believed to result from the company’s reputation in the marketplace and assembled workforce and is expected to be fully deductible for income tax purposes.

Various valuation techniques which use significant unobservable inputs, or Level 3 inputs as defined by the fair value hierarchy, were used to estimate the fair value of the assets acquired and the liabilities assumed. Using these valuation approaches requires the Company to make certain estimates and assumptions. The estimated fair values are expected to change as the Company completes its valuation analyses of the assets acquired and liabilities assumed.

The Company recorded $4.3 million of net sales included in the Condensed Consolidated Statements of Operations related to the Casa business for both the three and nine months ended September 30, 2024.

The Company recognized $0.4 million and $1.4 million of transaction and integration-related costs related to the Casa Transaction for the three and nine months ended September 30, 2024, respectively, and these costs were recognized in selling, general and administrative expense in the Condensed Consolidated Statements of Operations.

Segments and Geographic Information (Tables)

9 Months Ended

Sep. 30, 2024

Segment Reporting [Abstract]

Summary of Financial Information by Reportable Segment

The following table provides summary financial information by reportable segment:


	September 30, 2024		December 31, 2023
Identifiable segment-related assets:
CCS	$	3,730.5	$	3,597.8
NICS		937.0		950.6
ANS		1,732.7		1,957.0
Corporate and other		94.9		73.8
Total identifiable segment-related assets		6,495.1		6,579.2
Reconciliation to total assets:
Cash and cash equivalents		392.1		500.3
Deferred income tax assets		553.6		614.4
Home business assets		24.4		113.8
Assets held for sale		1,345.5		1,564.2
Total assets	$	8,810.7	$	9,371.9

Summary of Net Sales, Adjusted EBITDA, Depreciation Expense and Additions to PP&E by Reportable Segment

The following table provides net sales, adjusted EBITDA, depreciation expense and additions to property, plant and equipment by reportable segment:


	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2024			2023			2024			2023
Net sales:
CCS	$	736.7		$	630.5		$	2,069.7		$	2,148.6
NICS		157.5			202.6			398.8			637.3
ANS		188.0			220.3			568.2			856.2
Consolidated net sales	$	1,082.2		$	1,053.4		$	3,036.7		$	3,642.1

Segment adjusted EBITDA:
CCS	$	173.9		$	80.9		$	440.3		$	314.9
NICS		27.8			39.2			6.7			133.2
ANS		18.7			56.2			66.7			165.9
Corporate and other (1)		(16.2	)		(19.5	)		(39.1	)		(69.1	)
Total segment adjusted EBITDA		204.2			156.8			474.6			544.9
Amortization of intangible assets		(56.8	)		(68.9	)		(181.4	)		(231.8	)
Restructuring (costs) credits, net		0.9			(22.0	)		(30.6	)		(43.1	)
Equity-based compensation		(7.3	)		(9.4	)		(18.3	)		(29.1	)
Asset impairments		—			(425.9	)		—			(425.9	)
Transaction, transformation and integration costs		(19.5	)		(14.6	)		(45.8	)		(17.7	)
Acquisition accounting adjustments		—			(0.4	)		—			(1.3	)
Patent claims and litigation settlements		—			3.5			—			3.5
Recovery of Russian accounts receivable		—			—			—			2.0
Cyber incident costs		—			(1.5	)		—			(5.1	)
Depreciation		(19.3	)		(26.0	)		(62.0	)		(75.2	)
Consolidated operating income (loss)	$	102.2		$	(408.4	)	$	136.5		$	(278.8	)

Depreciation expense:
CCS	$	13.5		$	15.2		$	41.0		$	45.4
NICS		1.5			2.5			5.3			7.5
ANS		4.3			5.6			14.2			17.4
Corporate and other (1)		—			2.7			1.5			4.9
Consolidated depreciation expense	$	19.3		$	26.0		$	62.0		$	75.2

Additions to property, plant and equipment:
CCS	$	5.0		$	4.5		$	11.9		$	23.9
NICS		0.6			0.8			1.4			2.3
ANS		0.5			1.4			2.3			9.1
Corporate and other (1)		0.4			0.9			1.7			4.5
Consolidated additions to property, plant and equipment	$	6.5		$	7.6		$	17.3		$	39.8

(1)

Summary of Sales by Geographic Region, Based on Destination of Product Shipments or Service Provided

Sales by geographic region, based on the destination of product shipments or service provided, were as follows:


	Three Months Ended September 30, 2024
	CCS		NICS		ANS		Total
Geographic Region:
United States	$	476.9	$	105.1	$	132.6	$	714.6
Europe, Middle East and Africa		120.1		27.1		12.1		159.3
Asia Pacific		97.3		18.3		11.0		126.6
Caribbean and Latin America		26.3		4.9		16.3		47.5
Canada		16.1		2.1		16.0		34.2
Consolidated net sales	$	736.7	$	157.5	$	188.0	$	1,082.2

	Three Months Ended September 30, 2023
	CCS		NICS		ANS		Total
Geographic Region:
United States	$	383.8	$	134.7	$	174.7	$	693.2
Europe, Middle East and Africa		100.6		37.4		15.1		153.1
Asia Pacific		99.1		20.6		6.4		126.1
Caribbean and Latin America		34.2		2.5		13.3		50.0
Canada		12.8		7.4		10.8		31.0
Consolidated net sales	$	630.5	$	202.6	$	220.3	$	1,053.4


	Nine Months Ended September 30, 2024
	CCS		NICS		ANS		Total
Geographic Region:
United States	$	1,337.7	$	247.3	$	400.5	$	1,985.5
Europe, Middle East and Africa		321.8		72.1		37.8		431.7
Asia Pacific		292.7		57.4		25.6		375.7
Caribbean and Latin America		75.2		14.1		54.8		144.1
Canada		42.3		7.9		49.5		99.7
Consolidated net sales	$	2,069.7	$	398.8	$	568.2	$	3,036.7

	Nine Months Ended September 30, 2023
	CCS		NICS		ANS		Total
Geographic Region:
United States	$	1,389.8	$	387.2	$	637.0	$	2,414.0
Europe, Middle East and Africa		317.8		130.0		76.9		524.7
Asia Pacific		286.3		86.7		17.7		390.7
Caribbean and Latin America		112.4		17.3		81.3		211.0
Canada		42.3		16.1		43.3		101.7
Consolidated net sales	$	2,148.6	$	637.3	$	856.2	$	3,642.1

Revenue From Contracts With Customers - Allowance for Doubtful Accounts (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Accounts and Financing Receivable, after Allowance for Credit Loss, Current and Noncurrent [Abstract]
Allowance for doubtful accounts, beginning of period	$ 18.5	$ 25.1	$ 24.3	$ 25.2
Provision (benefit)	(1.0)	1.5	(5.2)	0.9
Write-offs	0.0	(0.5)	(1.2)	(0.3)
Foreign exchange and other	0.4	(0.6)	0.0	(0.3)
Allowance for doubtful accounts, end of period	$ 17.9	$ 25.5	$ 17.9	$ 25.5

Financing - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Debt Instrument [Line Items]
Current portion of long term debt	$ 1,306.6		$ 1,306.6		$ 32.0
Weighted average effective interest rate	7.09%		7.09%		7.22%
Total assets	$ 8,810.7		$ 8,810.7		$ 9,371.9
Total liabilities	10,922.5		10,922.5		$ 11,178.6
Net sales	1,082.2	$ 1,053.4	3,036.7	$ 3,642.1
Non Guarantor Subsidiaries Concentration Risk [Member]
Debt Instrument [Line Items]
Total assets	2,781.0		2,781.0
Total liabilities	660.0		660.0
Net sales	409.0		1,211.0
Asset Based Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Borrowed	0.0		0.0
Letters of credit outstanding amount	0.0		0.0
Line of credit facility, remaining borrowing capacity	567.9		567.9
2026 Term Loan [Member]
Debt Instrument [Line Items]
Scheduled amortization payments	8.0		24.0
Current portion of long term debt	$ 32.0		$ 32.0
Non-US [Member] \| Assets, Total [Member] \| Non Guarantor Subsidiaries Concentration Risk [Member]
Debt Instrument [Line Items]
Concentration risk percentage			32.00%
Non-US [Member] \| Liabilities, Total [Member] \| Non Guarantor Subsidiaries Concentration Risk [Member]
Debt Instrument [Line Items]
Concentration risk percentage			6.00%
Non-US [Member] \| Sales Revenue, Net [Member] \| Non Guarantor Subsidiaries Concentration Risk [Member]
Debt Instrument [Line Items]
Concentration risk percentage	29.00%		30.00%

Background and Basis of Presentation (Policies)

9 Months Ended

Sep. 30, 2024

Accounting Policies [Abstract]

Basis of Presentation

The accompanying condensed consolidated financial statements are unaudited and reflect all adjustments of a normal, recurring nature that are, in the opinion of management, necessary for a fair presentation of the interim period financial statements. The results of operations for these interim periods are not necessarily indicative of the results of operations to be expected for any future period or the full fiscal year. Certain prior year amounts have been reclassified to conform to the current year presentation.

As of January 1, 2024, management shifted certain product lines from the Company’s CCS segment to its ANS segment to better align with how the businesses are managed. All prior period amounts in these condensed consolidated financial statements have been recast to reflect these operating segment changes.

The unaudited interim condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles (GAAP) in the U.S. for interim financial information and are presented in accordance with the applicable requirements of Regulation S-X. Accordingly, these financial statements do not include all of the information and notes required by U.S. GAAP for complete financial statements. These unaudited condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023 (the 2023 Annual Report). The significant accounting policies followed by the Company are set forth in Note 2 within the Company’s audited consolidated financial statements included in the 2023 Annual Report. There were no material changes in the Company’s significant accounting policies during the three or nine months ended September 30, 2024.

Liquidity

The accompanying condensed consolidated financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. As of September 30, 2024, the Company has $1.27 billion outstanding on its 6.00% senior unsecured notes that mature on June 15, 2025 (the 2025 Notes), which is less than a year from the date that these condensed consolidated financial statements are issued for the quarter ended September 30, 2024. The Company does not currently have sufficient cash or liquidity to repay the 2025 Notes when they mature on June 15, 2025.

Proceeds of approximately $2.1 billion from the pending sale of the Company’s OWN segment and DAS business unit may be used under certain circumstances to retire the 2025 Notes due to the flexibility under the Company’s debt documents. The Company believes this is probable of occurring and will alleviate substantial doubt about the Company’s ability to operate as a going concern.

Concurrently, the Company is negotiating with creditors to explore both restructuring and/or refinancing of the 2025 Notes. No commitments have been obtained regarding this alternative as of the filing date, although it remains part of the Company’s plans to mitigate conditions that give rise to substantial doubt about the Company’s ability to operate as a going concern.

Management has assessed its plan to mitigate the conditions that give rise to substantial doubt and, considering the pending sale of the Company’s OWN segment and DAS business unit, management believes such plan is probable and will alleviate substantial doubt about the Company’s ability to operate as a going concern.

Concentrations of Risk and Related Party Transactions

No direct customer accounted for 10% or more of the Company’s total net sales during the three or nine months ended September 30, 2024. Net sales to Charter Communications, Inc. (Charter) accounted for 13% of the Company’s total net sales during the three months ended September 2023. During the nine months ended September 30, 2023, Comcast Corporation and affiliates (Comcast) and Charter each accounted for 11% of the Company’s total net sales. Accounts receivable from Comcast and Anixter International Inc. and its affiliates (Anixter) represented approximately 11% and 10%, respectively, of accounts receivable as of September 30, 2024. Other than Comcast and Anixter, no direct customer accounted for 10% or more of the Company’s accounts receivable.

The Company relies on sole suppliers or a limited group of suppliers for certain key components, subassemblies and modules and a limited group of contract manufacturers to manufacture a significant portion of its products. Any disruption or termination of these arrangements could have a material adverse impact on the Company’s results of operations.

As of September 30, 2024, funds affiliated with Carlyle Partners VII S1 Holdings, L.P. (Carlyle) owned 100% of the Company's Series A convertible preferred stock (the Convertible Preferred Stock), which was sold to Carlyle to fund a portion of the acquisition of ARRIS International plc (ARRIS) in 2019. See Note 11 for further discussion of the Convertible Preferred Stock. Other than transactions related to the Convertible Preferred Stock and the Company’s continuing involvement with Vantiva discussed in Note 3, there were no material related party transactions for the three or nine months ended September 30, 2024.

Product Warranties

The Company recognizes a liability for the estimated claims that may be paid under its customer assurance-type warranty agreements to remedy potential deficiencies of quality or performance of the Company’s products. These product warranties extend over various periods, depending on the product subject to the warranty and the terms of the individual agreements. The Company records a provision for estimated future warranty claims as cost of sales based upon the historical relationship of warranty claims to sales and specifically identified warranty issues. The Company bases its estimates on assumptions that are believed to be reasonable under the circumstances and revises its estimates, as appropriate, when events or changes in circumstances indicate that revisions may be necessary. Such revisions may be material.

The following table summarizes the activity in the product warranty accrual, included in accrued and other liabilities and other noncurrent liabilities on the Condensed Consolidated Balance Sheets:


	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2024			2023			2024			2023
Product warranty accrual, beginning of period	$	19.7		$	29.5		$	20.6		$	28.3
Provision for warranty claims		5.6			0.7			14.3			9.6
Warranty claims paid		(4.7	)		(3.9	)		(14.3	)		(11.7	)
Foreign exchange		—			(0.1	)		—			—
Product warranty accrual, end of period	$	20.6		$	26.2		$	20.6		$	26.2

Commitments and Contingencies

Non-cancellable Purchase Obligations

In the third quarter of 2023, the Company entered into a long-term supply contract with a third-party to secure the supply of certain raw materials. Under the terms of the contract, the Company will make advance payments through 2026 totaling $120.0 million (undiscounted), and such advance payments will be credited and applied to future orders on a quarterly basis beginning in 2027 through 2031 based on the ability to meet certain minimum purchase requirements. Advance payments of $45.0 million and $30.0 million are capitalized as other noncurrent assets in the Condensed Consolidated Balance Sheets as of September 30, 2024 and December 31, 2023, respectively. Under this agreement, the Company committed to purchases of raw materials that began in 2023, growing to a level of approximately $137 million per year by 2026 and continuing through 2032.

Legal Proceedings

The Company is party to certain intellectual property claims and also periodically receives notices asserting that its products infringe on another party’s patents and other intellectual property rights. These claims and assertions, whether against the Company directly or against its customers, could require the Company to pay damages or royalties, stop offering the relevant products and/or cease other activities. The Company may also be called upon to indemnify certain customers for costs related to products sold to such customers. The outcome of these claims and notices is uncertain, and a reasonable estimate of the loss from unfavorable outcomes in certain of these matters either cannot be determined or is estimated at the minimum amount of a range of estimates. The actual loss, through settlement or trial, could be material and may vary significantly from the Company’s estimates. From time to time, the Company may also be involved as a plaintiff in certain intellectual property claims. Gain contingencies, if any, are recognized when they are realized.

The Company is also either a plaintiff or a defendant in certain other pending legal matters in the normal course of business. Management believes none of these other pending legal matters will have a material adverse effect on the Company’s business or financial condition upon final disposition.

The Company is subject to various federal, state, local and foreign laws and regulations governing the use, discharge, disposal and remediation of hazardous materials. Compliance with current laws and regulations has not had, and is not expected to have, a material adverse effect on the Company’s financial condition or results of operations.

Asset Impairments

Goodwill

Goodwill is tested for impairment annually or at other times if events have occurred or circumstances exist that indicate the carrying value of the reporting unit may exceed its fair value. As of January 1, 2024, the Company assessed goodwill for impairment due to a change in the composition of reporting units as a result of the new segment structure and certain other intrasegment realignments. The Company performed impairment testing immediately before and after the change and determined that no goodwill impairment existed. As of the most recent impairment test on January 1, 2024, the implied fair value of the Enterprise and ANS reporting units exceeded its respective carrying amount by 8% and 7%, respectively. There were no goodwill impairments identified during the three or nine months ended September 30, 2024. See Note 4 for further discussion.

During the third quarter of 2023, the Company concluded that a triggering event occurred, primarily due to a sustained decrease in the market value of the Company’s debt and common stock affecting the overall business and changes in expected future cash flows due to reduced earnings forecasts and current macroeconomic conditions, including a rising interest rate environment. The Company performed an interim quantitative goodwill impairment test as of September 30, 2023 for its ANS and Building and Data Center Connectivity (BDCC) reporting units, which were most sensitive to negative performance and outlook, to compare the fair values of the reporting units to their carrying amounts, including the goodwill. As a result, for the three and nine months ended September 30, 2023, the Company recorded a goodwill impairment charge of $425.9 million in asset impairments in the Condensed Consolidated Statements of Operations to partially write down the carrying amount of the ANS reporting unit goodwill. As of September 30, 2023, there was no impairment identified in the BDCC reporting unit within the CCS reportable segment. See Note 4 for further discussion.

Subsequently, the Company’s ANS and BDCC reporting units failed the annual goodwill impairment test, and partial impairments were recorded as of October 1, 2023.

As a result of the new segment structure and certain other intrasegment realignments, as of January 1, 2024, the BDCC and Network Cable and Connectivity (NCC) reporting units are being referred to as Enterprise and Broadband, respectively, which are both in the CCS reportable segment.

Considering the low headroom going forward for each of the ANS and Enterprise reporting units, there is a risk for future impairment in the event of declines in general economic, market or business conditions or any significant unfavorable change in the forecasted cash flows, weighted average cost of capital or growth rates. If current and long-term projections for the ANS and Enterprise reporting units are not realized or decrease materially, the Company may be required to recognize additional goodwill impairment charges, and these charges could be material to the Company’s results of operations.

Long-lived Assets

Long-lived assets, which include property, plant and equipment, intangible assets with finite lives and right of use assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying value of the assets may not be recoverable, based on the undiscounted cash flows expected to be derived from the use and ultimate disposition of the assets. Assets identified as impaired are adjusted to estimated fair value. Equity investments without readily determinable fair values are evaluated each reporting period for impairment based on a qualitative assessment and are then measured at fair value if an impairment is determined to exist. Other than certain assets impaired as a result of restructuring actions and as part of discontinued operations, there were no definite-lived intangible or other long-lived asset impairments identified during the three or nine months ended September 30, 2024 or 2023.

Income Taxes

For the three and nine months ended September 30, 2024, the Company recognized income tax expense of $26.7 million on a pretax loss of $70.0 million and income tax expense of $41.2 million on a pretax loss of $356.7 million, respectively. The Company’s income taxes for the three and nine months ended September 30, 2024, were unfavorably impacted by $35.9 million and $103.7 million, respectively, of additional valuation allowance related to current year federal and state interest limitation carryforwards and U.S. anti-deferral provisions, partially offset by tax benefits related to federal tax credits. For the three and nine months ended September 30, 2024, the Company used a discrete calculation to compute the net tax benefit associated with external interest. Using the estimated annual tax rate for this component of income would have produced significant variability in the estimated annual effective tax rate, and use of the discrete method for this component results in the best estimate of the estimated annual effective tax rate.

For the three and nine months ended September 30, 2023, the Company recognized an income tax benefit of $34.5 million on a pretax loss of $568.3 million and an income tax benefit of $74.4 million on a pretax loss of $756.3 million, respectively. The Company’s tax benefit for the three and nine months ended September 30, 2023, was unfavorably impacted by a goodwill impairment charge of $425.9 million for which minimal tax benefits were recorded. The Company’s tax benefit was favorably impacted by $4.1 million related to tax law changes for the three and nine months ended September 30, 2023. In addition to the unfavorable impact of the goodwill impairment charge mentioned above, for the nine months ended September 30, 2023, the Company’s tax benefit was also unfavorably impacted by excess tax costs of $7.1 million related to equity compensation awards but favorably impacted by $9.6 million related to the release of various uncertain tax positions.

Earnings (Loss) Per Share

Basic earnings (loss) per share (EPS) from continuing operations is computed by dividing income (loss) from continuing operations, less any dividends and deemed dividends related to the Convertible Preferred Stock, by the weighted average number of common shares outstanding during the period. The numerator in diluted EPS from continuing operations is based on the basic EPS from continuing operations numerator, adjusted to add back any dividends and deemed dividends related to the Convertible Preferred Stock, subject to antidilution requirements. The denominator used in diluted EPS from continuing operations is based on the basic EPS computation plus the effect of potentially dilutive common shares related to the Convertible Preferred Stock and equity-based compensation plans, subject to antidilution requirements.

Basic EPS from discontinued operations is computed by dividing income (loss) from discontinued operations, net of income taxes by the weighted average number of common shares outstanding during the period. The numerator in diluted EPS from discontinued operations is the same as the basic EPS from discontinued operations numerator. The denominator used in diluted EPS from discontinued operations is based on the basic EPS computation plus the effect of potentially dilutive common shares related to the Convertible Preferred Stock and equity-based compensation plans, subject to antidilution requirements.

For the three and nine months ended September 30, 2024, 18.7 million and 18.6 million shares, respectively, of outstanding equity-based compensation awards were not included in the computation of diluted EPS because the effect was antidilutive or the performance conditions were not met. Of those amounts, for the three and nine months ended September 30, 2024, 7.0 million and 3.4 million shares, respectively, would have been considered dilutive if the Company had not been in a loss from continuing operations position. For the three and nine months ended September 30, 2023, 18.9 million and 17.2 million shares, respectively, of outstanding equity-based compensation awards were not included in the computation of diluted EPS because the effect was antidilutive or the performance conditions were not met. Of those amounts, for the three and nine months ended September 30, 2023, 0.6 million and 2.0 million shares, respectively, would have been considered dilutive if the Company had not been in a loss from continuing operations position.

For the three and nine months ended September 30, 2024, 43.4 million and 42.8 million, respectively, of as-if converted shares related to the Convertible Preferred Stock were excluded from the diluted share count because they were antidilutive. For the three and nine months ended September 30, 2023, 41.1 million and 40.6 million, respectively, of as-if converted shares related to the Convertible Preferred Stock were excluded from the diluted share count because they were antidilutive; however, they may have been considered dilutive if the Company had not been in a loss from continuing operations position.

The following table presents the basis for the EPS computations (in millions, except per share data):


	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2024			2023			2024			2023
Numerator:
Loss from continuing operations	$	(96.7	)	$	(533.8	)	$	(397.9	)	$	(681.9	)
Income (loss) from discontinued operations, net of tax		63.7			(294.9	)		50.1			(243.8	)
Net loss	$	(33.0	)	$	(828.7	)	$	(347.8	)	$	(925.7	)
Dividends on Series A convertible preferred stock		(16.4	)		(15.5	)		(48.6	)		(45.9	)
Net loss attributable to common stockholders	$	(49.4	)	$	(844.2	)	$	(396.4	)	$	(971.6	)

Denominator:
Weighted average common shares outstanding – basic		215.9			211.9			213.9			210.4
Dilutive effect of as-if converted Series A convertible preferred stock		—			—			—			—
Dilutive effect of equity-based awards		—			—			—			—
Weighted average common shares outstanding – diluted		215.9			211.9			213.9			210.4

Basic:
Loss from continuing operations per share	$	(0.52	)	$	(2.59	)	$	(2.09	)	$	(3.46	)
Earnings (loss) from discontinued operations per share		0.29			(1.39	)		0.24			(1.16	)
Loss per share	$	(0.23	)	$	(3.98	)	$	(1.85	)	$	(4.62	)

Diluted:
Loss from continuing operations per share	$	(0.52	)	$	(2.59	)	$	(2.09	)	$	(3.46	)
Earnings (loss) from discontinued operations per share		0.29			(1.39	)		0.24			(1.16	)
Loss per share	$	(0.23	)	$	(3.98	)	$	(1.85	)	$	(4.62	)

Recent Accounting Pronouncements

Adopted During the Nine Months Ended September 30, 2024

On January 1, 2024, the Company adopted the rollforward disclosure requirement of Accounting Standards Update (ASU) No. 2022-04, Liabilities—Supplier Finance Programs (Subtopic 405-50): Disclosure of Supplier Finance Program Obligations. The new guidance improves the transparency of supplier finance programs by requiring that a buyer in a supplier finance program disclose sufficient qualitative and quantitative information about the program to allow a user of its financial statements to understand the program’s nature, activity during the period, changes from period to period and potential effect on an entity’s financial statements. The requirement to disclose rollforward information was effective prospectively for the Company as of January 1, 2024. The impact of adopting this new guidance was not material to the condensed consolidated financial statements and related disclosures.

Issued but Not Adopted

In December 2023, the Financial Accounting Standards Board (FASB) issued ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. The new guidance is expected to improve income tax disclosures by requiring additional information related to the rate reconciliation and income taxes paid, including 1) consistent categories and greater disaggregation of information in the rate reconciliation and 2) disaggregation of income taxes paid by jurisdiction. The guidance is effective for the Company on a prospective basis, although retrospective application is permitted, as of January 1, 2025 for the annual period. Early adoption is permitted. The Company is currently evaluating the impact of the new guidance on the condensed consolidated financial statements.

In November 2023, the FASB issued ASU No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures. The new guidance is expected to improve reportable segment disclosure requirements primarily through enhanced disclosures for significant segment expenses. The guidance is effective for the Company on a retrospective basis as of January 1, 2024 for the annual period and January 1, 2025 for the interim periods. Early adoption is permitted. The Company is currently evaluating the impact of the new guidance on the condensed consolidated financial statements.

Condensed Consolidated Statements of Operations (Parenthetical) (Unaudited) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Income Statement [Abstract]
Discontinued operations, net of income tax expense (benefit)	$ (22.1)	$ 124.1	$ (74.7)	$ 83.6

- Definition

Amount of tax expense (benefit) related to a discontinued operation. Includes, but is not limited to, tax expense (benefit) related to income (loss) from operations during the phase-out period, tax expense (benefit) related to gain (loss) on disposal, tax expense (benefit) related to gain (loss) for reversal of write-down (write-down) to fair value, less cost to sell, and tax expense (benefit) related to adjustments of a prior period gain (loss) on disposal.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 6.I.7)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479360/740-10-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-10

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 20
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482659/740-20-45-2

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 45
-Paragraph 3A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483475/205-20-45-3A

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5B
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483499/205-20-50-5B

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5C
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483499/205-20-50-5C

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 45
-Paragraph 3B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483475/205-20-45-3B

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 45
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483475/205-20-45-4

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483499/205-20-50-1

+ Details

Supplemental Financial Statement Information - Accounts Receivable (Detail) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for doubtful accounts	$ (17.9)	$ (24.3)
Total accounts receivable, net	664.8	592.1
Accounts Receivable Trade [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable	674.8	600.3
Accounts Receivable Other [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable	$ 7.9	$ 16.1

Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Comprehensive income (loss):
Net Income (Loss)	$ (33.0)	$ (828.7)	$ (347.8)	$ (925.7)
Other comprehensive income (loss), net of tax:
Foreign currency translation gain (loss)	48.1	(45.1)	26.8	(24.4)
Pension and other postretirement benefit activity	0.1	0.1	0.0	0.0
Gain (loss) on hedging instruments	(10.7)	3.8	(3.3)	3.3
Total other comprehensive income (loss), net of tax	37.5	(41.2)	23.5	(21.1)
Total comprehensive income (loss)	$ 4.5	$ (869.9)	$ (324.3)	$ (946.8)

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners.

+ References + Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

- Definition

Amount after tax and reclassification adjustments of other comprehensive income (loss).

+ References

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+ Details

Goodwill - Additional Information (Detail) - USD ($)	3 Months Ended		9 Months Ended
Goodwill - Additional Information (Detail) - USD ($)	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Jun. 07, 2024	Dec. 31, 2023
Goodwill [Line Items]
Goodwill	$ 2,906,900,000		$ 2,906,900,000			$ 2,897,700,000
Disposal group of goodwill	617,800,000		617,800,000
Impairment of goodwill	0	$ 425,900,000	0	$ 425,900,000
Casa Systems Inc [Member]
Goodwill [Line Items]
Goodwill	4,300,000		4,300,000		$ 2,200,000
ANS [Member]
Goodwill [Line Items]
Goodwill	265,800,000		265,800,000			$ 261,400,000
Impairment of goodwill		425,900,000
BDCC [Member]
Goodwill [Line Items]
Impairment of goodwill		$ 0
DAS [Member]
Goodwill [Line Items]
Disposal group of goodwill	113,500,000		113,500,000
Impairment of goodwill			0
OWN [Member]
Goodwill [Line Items]
Disposal group of goodwill	$ 504,300,000		$ 504,300,000

- Definition

Amount, after accumulated impairment loss, of asset representing future economic benefit arising from other asset acquired in business combination or from joint venture formation or both, that is not individually identified and separately recognized.

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+ Details

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

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+ Details

Restructuring Costs (Credits), Net (Tables)

9 Months Ended

Sep. 30, 2024

Summary of Company's Net Pretax Restructuring Costs (Credits)

The Company’s net pretax restructuring activity included in restructuring costs (credits), net on the Condensed Consolidated Statements of Operations, by segment, was as follows:


	Three Months Ended					Nine Months Ended
	September 30,					September 30,
	2024			2023		2024		2023
CCS	$	(0.6	)	$	16.0	$	0.2	$	14.1
NICS		(0.2	)		0.7		2.3		6.0
ANS		0.1			2.8		28.0		13.6
Corporate and other		(0.2	)		2.5		0.1		9.4
Total	$	(0.9	)	$	22.0	$	30.6	$	43.1

The corporate and other line item above reflects general corporate restructuring costs that were previously allocated to the OWN segment, DAS business unit and Home segment. These indirect expenses have been classified as continuing operations, since the costs were not directly attributable to these discontinued operations. Beginning in the first quarter of 2024, the corporate and other costs related to the Home segment have been reallocated to the Company’s remaining segments. The corporate and other costs related to the OWN segment and DAS business unit will be reallocated to the Company’s remaining segments beginning in the first quarter of 2025.

Restructuring Reserves Included in Company's Condensed Consolidated Balance Sheets

Restructuring liabilities were included in the Company’s Condensed Consolidated Balance Sheets as follows:


	September 30, 2024		December 31, 2023
Accrued and other liabilities	$	2.9	$	11.5
Other noncurrent liabilities		—		0.1
Total restructuring liabilities	$	2.9	$	11.6

Activity within Liability Established for Restructuring Actions, Included in Other Accrued Liabilities

The activity within the liability established for CommScope NEXT restructuring actions was as follows:


	Employee-Related Costs			Other			Total
Balance at June 30, 2024	$	9.9		$	—		$	9.9
Additional expense (credits), net		0.5			(1.6	)		(1.1	)
Cash paid		(7.6	)		(0.5	)		(8.1	)
Third-party indemnification receivable (1)		0.1			0.1			0.2
Foreign exchange and other non-cash items		—			2.0			2.0
Balance at September 30, 2024	$	2.9		$	—		$	2.9

Balance at December 31, 2023	$	11.7		$	—		$	11.7
Additional expense, net		7.5			22.8			30.3
Cash paid		(23.5	)		(0.9	)		(24.4	)
Third-party indemnification receivable (1)		7.1			0.6			7.7
Foreign exchange and other non-cash items		0.1			(22.5	)		(22.4	)
Balance at September 30, 2024	$	2.9		$	—		$	2.9

(1)

Reflects the reimbursement of severance and other costs from a third-party, for which the Company is obligated to pay.

Segments and Geographic Information - Summary of Financial Information by Reportable Segment (Detail) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Segment Reporting Information [Line Items]
Total assets	$ 8,810.7	$ 9,371.9
Cash and cash equivalents	392.1	500.3
Deferred income tax assets	553.6	614.4
Operating Segments [Member]
Segment Reporting Information [Line Items]
Total assets	6,495.1	6,579.2
Operating Segments [Member] \| CCS [Member]
Segment Reporting Information [Line Items]
Total assets	3,730.5	3,597.8
Operating Segments [Member] \| NICS [Member]
Segment Reporting Information [Line Items]
Total assets	937.0	950.6
Operating Segments [Member] \| ANS [Member]
Segment Reporting Information [Line Items]
Total assets	1,732.7	1,957.0
Operating Segments [Member] \| Corporate and Other [Member]
Segment Reporting Information [Line Items]
Total assets	94.9	73.8
Segment Reconciling Items [Member]
Segment Reporting Information [Line Items]
Cash and cash equivalents	392.1	500.3
Deferred income tax assets	553.6	614.4
Home business assets	24.4	113.8
Assets held for sale	$ 1,345.5	$ 1,564.2

Acquisitions - Preliminary Determination of Fair Value of Identifiable Assets Acquired and Liabilities Assumed (Detail) - USD ($)
$ in Millions

1 Months Ended

9 Months Ended

Jun. 07, 2024

Jul. 07, 2024

Sep. 30, 2024

Dec. 31, 2023

Assets

Goodwill

$ 2,906.9

$ 2,897.7

Casa Systems Inc [Member]

Business Acquisition [Line Items]

Total cash consideration paid

$ 45.1

Assets

Accounts receivable, net

^[1]

4.4

Inventories, net

13.6

Property, plant and equipment

2.6

Goodwill

2.2

4.3

Identifiable intangible assets

24.1

Other noncurrent assets

1.2

Less: Liabilities assumed

Accounts payable and accrued and other liabilities

2.3

Other noncurrent liabilities

0.7

Fair value allocated to net assets acquired

45.1

Casa Systems Inc [Member] | Restatement Adjustment [Member]

Business Acquisition [Line Items]

Total cash consideration paid

45.1

0.0

Assets

Accounts receivable, net

^[1]

5.2

0.8

Inventories, net

9.7

(3.9)

Property, plant and equipment

6.1

3.5

Goodwill

4.3

2.1

Identifiable intangible assets

21.7

(2.4)

Other noncurrent assets

1.1

(0.1)

Less: Liabilities assumed

Accounts payable and accrued and other liabilities

2.3

0.0

Other noncurrent liabilities

0.7

0.0

Fair value allocated to net assets acquired

$ 45.1

$ 0.0

[1]	The fair value of accounts receivable, net is $5.2 million with a gross contractual amount of $12.2 million. The Company expects $7.0 million to be uncollectible.

Series A Convertible Preferred Stock - Additional Information (Detail) $ / shares in Units, $ in Millions		3 Months Ended		9 Months Ended
	Apr. 04, 2019 USD ($) $ / shares shares	Sep. 30, 2024 USD ($) shares	Sep. 30, 2023 USD ($)	Sep. 30, 2024 USD ($) shares	Sep. 30, 2023 USD ($)	Dec. 31, 2023 shares
Class Of Stock [Line Items]
Preferred stock, shares authorized		200,000,000		200,000,000		200,000,000
Dividends declared payable in kind \| $		$ 16.4	$ 15.5	$ 48.6	$ 45.9
Carlyle [Member]
Class Of Stock [Line Items]
Agreement date	Nov. 08, 2018
Carlyle [Member] \| Series A Convertible Preferred Stock [Member]
Class Of Stock [Line Items]
Convertible preferred stock, share issued	1,000,000
Total purchase price \| $	$ 1,000.0
Total purchase price per share \| $ / shares	$ 1,000
Convertible preferred stock, conversion price per share \| $ / shares	$ 27.5
Preferred stock, shares authorized		1,400,000		1,400,000
Initial conversion rate of common stock per share of the convertible preferred stock	36.3636
Carlyle [Member] \| Series A Convertible Preferred Stock [Member]
Class Of Stock [Line Items]
Convertible preferred stock, dividend payment terms				Holders of the Convertible Preferred Stock are entitled to a cumulative dividend at the rate of 5.5% per year
Convertible preferred stock, dividend rate percentage	5.50%

Revenue From Contracts With Customers - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Accounts, Notes, Loans and Financing Receivable [Line Items]
Contract with customer liability revenue recognized	$ 18.4		$ 69.1
Write-offs	$ 0.0	$ (0.5)	$ (1.2)	$ (0.3)

Document and Entity Information - shares	9 Months Ended
Document and Entity Information - shares	Sep. 30, 2024	Oct. 30, 2024
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2024
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Entity Registrant Name	CommScope Holding Company, Inc.
Entity Central Index Key	0001517228
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		215,878,782
Entity Shell Company	false
Entity Small Business	false
Entity Emerging Growth Company	false
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	COMM
Security Exchange Name	NASDAQ
Entity File Number	001-36146
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	27-4332098
Entity Address, Address Line One	3642 E. US Highway 70
Entity Address, City or Town	Claremont
Entity Address, State or Province	NC
Entity Address, Postal Zip Code	28610
City Area Code	828
Local Phone Number	459-5000
Document Quarterly Report	true
Document Transition Report	false

Restructuring Costs (Credits), Net

9 Months Ended

Sep. 30, 2024

Restructuring and Related Activities [Abstract]

Restructuring Costs (Credits), Net

10. RESTRUCTURING COSTS (CREDITS), NET

The Company incurs costs associated with restructuring initiatives intended to improve overall operating performance and profitability. The costs related to restructuring actions are generally cash-based and primarily consist of employee-related costs, which include severance and other one-time termination benefits.

In addition to the employee-related costs, the Company records other costs associated with restructuring actions, such as the gain or loss on the sale of facilities and impairment costs arising from unutilized real estate or equipment. The Company attempts to sell or lease this unutilized space, but additional impairment charges may be incurred related to these or other excess assets.

The Company’s net pretax restructuring activity included in restructuring costs (credits), net on the Condensed Consolidated Statements of Operations, by segment, was as follows:


	Three Months Ended					Nine Months Ended
	September 30,					September 30,
	2024			2023		2024		2023
CCS	$	(0.6	)	$	16.0	$	0.2	$	14.1
NICS		(0.2	)		0.7		2.3		6.0
ANS		0.1			2.8		28.0		13.6
Corporate and other		(0.2	)		2.5		0.1		9.4
Total	$	(0.9	)	$	22.0	$	30.6	$	43.1

Restructuring liabilities were included in the Company’s Condensed Consolidated Balance Sheets as follows:


	September 30, 2024		December 31, 2023
Accrued and other liabilities	$	2.9	$	11.5
Other noncurrent liabilities		—		0.1
Total restructuring liabilities	$	2.9	$	11.6

CommScope NEXT Restructuring Actions

In the first quarter of 2021, the Company announced and began implementing a business transformation initiative called CommScope NEXT. This initiative is designed to drive shareholder value through three pillars: profitable growth, operational efficiency and portfolio optimization. The activity within the liability established for CommScope NEXT restructuring actions was as follows:


	Employee-Related Costs			Other			Total
Balance at June 30, 2024	$	9.9		$	—		$	9.9
Additional expense (credits), net		0.5			(1.6	)		(1.1	)
Cash paid		(7.6	)		(0.5	)		(8.1	)
Third-party indemnification receivable (1)		0.1			0.1			0.2
Foreign exchange and other non-cash items		—			2.0			2.0
Balance at September 30, 2024	$	2.9		$	—		$	2.9

Balance at December 31, 2023	$	11.7		$	—		$	11.7
Additional expense, net		7.5			22.8			30.3
Cash paid		(23.5	)		(0.9	)		(24.4	)
Third-party indemnification receivable (1)		7.1			0.6			7.7
Foreign exchange and other non-cash items		0.1			(22.5	)		(22.4	)
Balance at September 30, 2024	$	2.9		$	—		$	2.9

(1)

Reflects the reimbursement of severance and other costs from a third-party, for which the Company is obligated to pay.

CommScope NEXT actions to date have included the closure of manufacturing, administration and warehouse facilities, as well as headcount reductions in other manufacturing locations and engineering, marketing, sales and administrative functions, and asset impairments associated with restructuring-related actions. During the three and nine months ended September 30, 2024, additional expenses were recorded for employee-related costs for severance. Other costs included the impairment of idled administration and engineering facilities during the three and nine months ended September 30, 2024.

The Company has recognized restructuring charges of $204.8 million to date related to CommScope NEXT actions. The Company expects to make cash payments of $2.9 million during the remainder of 2024 to settle CommScope NEXT restructuring actions. Additional restructuring actions related to CommScope NEXT are expected to be identified, and the resulting charges and cash requirements could be material.

Supplemental Financial Statement Information

9 Months Ended

Sep. 30, 2024

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Supplemental Financial Statement Information

6. SUPPLEMENTAL FINANCIAL STATEMENT INFORMATION

Accounts Receivable


	September 30, 2024			December 31, 2023
Accounts receivable - trade	$	674.8		$	600.3
Accounts receivable - other		7.9			16.1
Allowance for doubtful accounts		(17.9	)		(24.3	)
Total accounts receivable, net	$	664.8		$	592.1

Inventories


	September 30, 2024		December 31, 2023
Raw materials	$	423.5	$	478.3
Work in process		161.6		119.9
Finished goods		258.4		302.6
Total inventories, net	$	843.5	$	900.8

Accrued and Other Liabilities


	September 30, 2024		December 31, 2023
Compensation and employee benefit liabilities	$	152.5	$	150.5
Deferred revenue		99.4		84.4
Accrued interest		54.7		113.2
Operating lease liabilities		34.1		35.3
Product warranty accrual		18.9		19.2
Other		167.4		164.2
Total accrued and other liabilities	$	527.0	$	566.8

Operating Lease Information


	Balance Sheet Location	September 30, 2024		December 31, 2023
Right of use assets	Other noncurrent assets	$	139.3	$	152.1

Lease liabilities - current	Accrued and other liabilities	$	34.1	$	35.3
Lease liabilities - noncurrent	Other noncurrent liabilities		123.8		135.9
Total lease liabilities		$	157.9	$	171.2

Accumulated Other Comprehensive Loss

The following table presents changes in accumulated other comprehensive loss (AOCL), net of tax:


	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2024			2023			2024			2023
Foreign currency translation
Balance at beginning of period	$	(253.7	)	$	(249.6	)	$	(232.4	)	$	(270.3	)
Other comprehensive income (loss)		48.1			(45.1	)		(0.6	)		(24.4	)
Amounts reclassified from AOCL		—			—			27.4			—
Balance at end of period	$	(205.6	)	$	(294.7	)	$	(205.6	)	$	(294.7	)

Defined benefit plan activity
Balance at beginning of period	$	(15.0	)	$	(14.9	)	$	(14.9	)	$	(14.8	)
Other comprehensive income		0.1			0.1			—			—
Balance at end of period	$	(14.9	)	$	(14.8	)	$	(14.9	)	$	(14.8	)

Hedging instruments
Balance at beginning of period	$	(12.0	)	$	(11.7	)	$	(19.4	)	$	(11.2	)
Other comprehensive income (loss)		(10.7	)		3.8			(3.3	)		3.3
Balance at end of period	$	(22.7	)	$	(7.9	)	$	(22.7	)	$	(7.9	)
Net AOCL at end of period	$	(243.2	)	$	(317.4	)	$	(243.2	)	$	(317.4	)

During the nine months ended September 30, 2024, the amount reclassified from net AOCL related to foreign currency translation was recorded in the loss on disposal of the Home business, included in income (loss) from discontinued operations, net of income taxes, on the Condensed Consolidated Statements of Operations.

Cash Flow Information


	Nine Months Ended
	September 30,
	2024		2023
Cash paid during the period for:
Income taxes, net of refunds	$	75.5	$	85.5
Interest		543.1		546.6
Non-cash investing activities:
Equity method investment from divestiture		17.0		—

Background and Basis of Presentation (Tables)

9 Months Ended

Sep. 30, 2024

Accounting Policies [Abstract]

Summary of Activity in Product Warranty Accrual, Included in Accrued and Other Liabilities and Other Noncurrent Liabilities on the Condensed Consolidated Balance Sheets

The following table summarizes the activity in the product warranty accrual, included in accrued and other liabilities and other noncurrent liabilities on the Condensed Consolidated Balance Sheets:


	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2024			2023			2024			2023
Product warranty accrual, beginning of period	$	19.7		$	29.5		$	20.6		$	28.3
Provision for warranty claims		5.6			0.7			14.3			9.6
Warranty claims paid		(4.7	)		(3.9	)		(14.3	)		(11.7	)
Foreign exchange		—			(0.1	)		—			—
Product warranty accrual, end of period	$	20.6		$	26.2		$	20.6		$	26.2

Summary of EPS, Weighted Average Common Shares and Potential Common Shares Outstanding

The following table presents the basis for the EPS computations (in millions, except per share data):


	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2024			2023			2024			2023
Numerator:
Loss from continuing operations	$	(96.7	)	$	(533.8	)	$	(397.9	)	$	(681.9	)
Income (loss) from discontinued operations, net of tax		63.7			(294.9	)		50.1			(243.8	)
Net loss	$	(33.0	)	$	(828.7	)	$	(347.8	)	$	(925.7	)
Dividends on Series A convertible preferred stock		(16.4	)		(15.5	)		(48.6	)		(45.9	)
Net loss attributable to common stockholders	$	(49.4	)	$	(844.2	)	$	(396.4	)	$	(971.6	)

Denominator:
Weighted average common shares outstanding – basic		215.9			211.9			213.9			210.4
Dilutive effect of as-if converted Series A convertible preferred stock		—			—			—			—
Dilutive effect of equity-based awards		—			—			—			—
Weighted average common shares outstanding – diluted		215.9			211.9			213.9			210.4

Basic:
Loss from continuing operations per share	$	(0.52	)	$	(2.59	)	$	(2.09	)	$	(3.46	)
Earnings (loss) from discontinued operations per share		0.29			(1.39	)		0.24			(1.16	)
Loss per share	$	(0.23	)	$	(3.98	)	$	(1.85	)	$	(4.62	)

Diluted:
Loss from continuing operations per share	$	(0.52	)	$	(2.59	)	$	(2.09	)	$	(3.46	)
Earnings (loss) from discontinued operations per share		0.29			(1.39	)		0.24			(1.16	)
Loss per share	$	(0.23	)	$	(3.98	)	$	(1.85	)	$	(4.62	)

Supplemental Financial Statement Information - Cash Flow Information (Detail) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Cash paid during the period for:
Income taxes, net of refunds	$ 75.5	$ 85.5
Interest	543.1	546.6
Non-cash investing activities:
Equity method investment from divestiture	$ 17.0	$ 0.0

Restructuring Costs (Credits), Net - Summary of Company's Net Pretax Restructuring Costs (Credits) (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Restructuring Cost and Reserve [Line Items]
Restructuring costs (credits), net	$ (0.9)	$ 22.0	$ 30.6	$ 43.1
CCS [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring costs (credits), net	(0.6)	16.0	0.2	14.1
NICS [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring costs (credits), net	(0.2)	0.7	2.3	6.0
ANS [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring costs (credits), net	0.1	2.8	28.0	13.6
Corporate and Other [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring costs (credits), net	$ (0.2)	$ 2.5	$ 0.1	$ 9.4

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Operating Activities:
Net loss	$ (347.8)	$ (925.7)
Adjustments to reconcile net loss to net cash generated by (used in) operating activities:
Depreciation and amortization	287.7	442.2
Equity-based compensation	21.1	35.5
Deferred income taxes	1.9	(249.9)
Asset impairments	17.2	895.1
Changes in assets and liabilities:
Accounts receivable	(99.1)	375.0
Inventories	58.2	218.0
Prepaid expenses and other assets	(108.7)	13.2
Accounts payable and other liabilities	81.8	(524.8)
Other	82.9	(49.1)
Net cash generated by (used in) operating activities	(4.8)	229.5
Investing Activities:
Additions to property, plant and equipment	(18.0)	(43.9)
Proceeds from sale of property, plant and equipment	0.2	41.8
Acquisition of a business	(45.1)	0.0
Other	8.6	20.4
Net cash generated by (used in) investing activities	(54.3)	18.3
Financing Activities:
Long-term debt repaid	(24.0)	(24.0)
Long-term debt repurchases	0.0	(92.1)
Tax withholding payments for vested equity-based compensation awards	(1.8)	(8.9)
Other	0.0	2.1
Net cash used in financing activities	(25.8)	(122.9)
Effect of exchange rate changes on cash and cash equivalents	(2.5)	(4.1)
Change in cash and cash equivalents	(87.4)	120.8
Cash and cash equivalents at beginning of period	543.8	398.1
Cash and cash equivalents at end of period	$ 456.4	$ 518.9

Revenue From Contracts With Customers - Summary of the Balance Sheet Location and Amounts of Contract Assets and Liabilities from Contracts with Customers (Detail) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Schedule Of Contract Assets And Liabilities [Line Items]
Deferred revenue - current	$ 99.4	$ 84.4
Total contract liabilities	178.4	155.0
Accounts Receivable, Net of Allowance for Doubtful Accounts [Member]
Schedule Of Contract Assets And Liabilities [Line Items]
Unbilled accounts receivable	11.5	14.2
Accrued and Other Liabilities [Member]
Schedule Of Contract Assets And Liabilities [Line Items]
Deferred revenue - current	99.4	84.4
Other Noncurrent Liabilities [Member]
Schedule Of Contract Assets And Liabilities [Line Items]
Deferred revenue - noncurrent	$ 79.0	$ 70.6

Financing - Summary of Debt (Detail) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Total principal amount of debt	$ 9,323.1	$ 9,347.1
Less: Original issue discount, net of amortization	(8.0)	(11.5)
Less: Debt issuance costs, net of amortization	(42.1)	(57.0)
Less: Current portion	(1,306.6)	(32.0)
Total long-term debt	7,966.4	9,246.6
7.125% Senior Notes Due July 2028 [Member]
Debt Instrument [Line Items]
Senior notes	641.6	641.6
5.00% Senior Notes Due March 2027 [Member]
Debt Instrument [Line Items]
Senior notes	750.0	750.0
8.25% Senior Notes Due 2027 [Member]
Debt Instrument [Line Items]
Senior notes	866.9	866.9
6.00% Senior Notes Due June 2025 [Member]
Debt Instrument [Line Items]
Senior notes	1,274.6	1,274.6
4.75% Senior Secured Notes Due September 2029 [Member]
Debt Instrument [Line Items]
Senior secured notes	1,250.0	1,250.0
6.00% Senior Secured Notes Due 2026 [Member]
Debt Instrument [Line Items]
Senior secured notes	1,500.0	1,500.0
Senior Secured Term Loan Due April 2026 [Member]
Debt Instrument [Line Items]
Senior secured notes	3,040.0	3,064.0
Senior Secured Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Senior secured revolving credit facility	$ 0.0	$ 0.0

Discontinued Operations - Discontinued Operations Included in the Condensed Consolidated Statements of Cash Flows (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Asset impairments			$ 17.2	$ 895.1
Equity-based compensation			21.1	35.5
Discontinued Operations, Held-for-Sale [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loss on disposal of Home business			53.8	0.0
Depreciation and amortization			24.2	114.7
Asset impairments	$ 0.0	$ 469.2	17.2	469.2
Loss on equity investment			17.0	0.0
Equity-based compensation			2.8	6.4
Capital expenditures			$ 0.7	$ 4.1

Acquisitions - Additional Information (Detail) - USD ($) $ in Millions		1 Months Ended	3 Months Ended		9 Months Ended
	Jun. 07, 2024	Jul. 07, 2024	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Business Acquisition [Line Items]
Net sales			$ 1,082.2	$ 1,053.4	$ 3,036.7	$ 3,642.1
Casa Systems Inc [Member]
Business Acquisition [Line Items]
Net sales			4.3		4.3
Cash payments for business acquisition	$ 45.1	$ 45.1
Transaction and integration related costs			$ 0.4		$ 1.4

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-41

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 270
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482964/270-10-50-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (ee)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 4: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 5: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 924
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479941/924-10-S99-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-5

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-30

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-42

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-40

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-4

+ Details

Background and Basis of Presentation - Additional Information (Detail) shares in Millions, $ in Millions			1 Months Ended	3 Months Ended		9 Months Ended		12 Months Ended
	Jul. 18, 2024 USD ($)	Jun. 07, 2024 USD ($)	Jul. 07, 2024 USD ($)	Sep. 30, 2024 USD ($) Customer shares	Sep. 30, 2023 USD ($) shares	Sep. 30, 2024 USD ($) Customer shares	Sep. 30, 2023 USD ($) shares	Dec. 31, 2023 USD ($)	Jan. 01, 2024
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Proceeds from the pending sale						$ 2,100.0
Percentage of convertible preferred stock owned				100.00%		100.00%
Related party transactions				$ 0.0		$ 0.0
Advance payment on long term supply					$ 120.0	$ 45.0		$ 30.0
Increase in purchase of raw material					137.0
Product warranty term						These product warranties extend over various periods, depending on the product subject to the warranty and the terms of the individual agreements
Intangible asset impairment charges, excluding goodwill				0.0	0.0	$ 0.0	$ 0.0
Goodwill Impairment Charges				0.0	425.9	0.0	425.9
Income tax (expense) benefit				(26.7)	34.5	(41.2)	74.4
Tax Benefit				35.9	4.1	103.7	4.1
Pre-tax net loss for the period				$ (70.0)	$ (568.3)	(356.7)	(756.3)
Asset impairments						$ 17.2	895.1
Excess tax costs related to equity compensation awards							7.1
Tax benefits related uncertain tax positions							$ 9.6
Dilutive effect of equity-based awards \| shares				0.0	0.0	0.0	0.0
ANS [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Goodwill Impairment Charges					$ 425.9
Percentage of exceeded carrying amount									7.00%
Enterprise [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Percentage of exceeded carrying amount									8.00%
OWN and Distributed Antenna Systems business unit of NICS segment [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Cash Proceeds from Sale of Segment	$ 2,100.0					$ 2,100.0
Casa Systems Inc [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Total cash consideration paid		$ 45.1	$ 45.1
Convertible Preferred Stock [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Dilutive effect of equity-based awards \| shares				43.4	41.1	42.8	40.6
Stock Compensation Plan [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Amount of outstanding equity based awards not included in computation of diluted EPS \| shares				18.7	18.9	18.6	17.2
Dilutive effect of equity-based awards \| shares				7.0	0.6	3.4	2.0
Senior Notes Due June Fifteen Two Thousand Twenty Five [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Senior notes				$ 1,274.6		$ 1,274.6		$ 1,274.6
Interest rate				6.00%		6.00%		6.00%
Customer Concentration Risk [Member] \| Sales Revenue, Net [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Direct customer accounted for 10% or more of the Company's accounts receivable and total net sales \| Customer				0		0
Customer Concentration Risk [Member] \| Sales Revenue, Net [Member] \| Comcast Corporation [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Concentration risk percentage							11.00%
Customer Concentration Risk [Member] \| Accounts Receivable [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Direct customer accounted for 10% or more of the Company's accounts receivable and total net sales \| Customer						0
Customer Concentration Risk [Member] \| Accounts Receivable [Member] \| Comcast Corporation [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Concentration risk percentage						11.00%
Customer Concentration Risk [Member] \| Accounts Receivable [Member] \| Anixter International [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Concentration risk percentage						10.00%
Customer Concentration Risk [Member] \| Maximum [Member] \| Sales Revenue, Net [Member] \| Charter Communications [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Concentration risk percentage					13.00%
Customer Concentration Risk [Member] \| Minimum [Member] \| Sales Revenue, Net [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Concentration risk percentage				10.00%		10.00%
Customer Concentration Risk [Member] \| Minimum [Member] \| Accounts Receivable [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Concentration risk percentage						10.00%

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Income Statement [Abstract]
Net sales	$ 1,082.2	$ 1,053.4	$ 3,036.7	$ 3,642.1
Cost of sales	647.1	673.2	1,909.9	2,320.1
Gross profit	435.1	380.2	1,126.8	1,322.0
Transition service agreement income	4.4	0.0	22.4	0.0
Operating expenses:
Selling, general and administrative	203.4	186.4	565.5	602.1
Research and development	78.0	85.4	235.2	297.9
Amortization of purchased intangible assets	56.8	68.9	181.4	231.8
Restructuring costs (credits), net	(0.9)	22.0	30.6	43.1
Asset impairments	0.0	425.9	0.0	425.9
Total operating expenses	337.3	788.6	1,012.7	1,600.8
Operating income (loss)	102.2	(408.4)	136.5	(278.8)
Other income (expense), net	(6.8)	8.0	1.7	19.6
Interest expense	(168.0)	(171.3)	(503.2)	(504.9)
Interest income	2.6	3.4	8.3	7.8
Loss from continuing operations before income taxes	(70.0)	(568.3)	(356.7)	(756.3)
Income tax (expense) benefit	(26.7)	34.5	(41.2)	74.4
Loss from continuing operations	(96.7)	(533.8)	(397.9)	(681.9)
Income (loss) from discontinued operations, net of income tax (expense) benefit of $(22.1), $124.1, $(74.7) and $83.6, respectively	63.7	(294.9)	50.1	(243.8)
Net loss	(33.0)	(828.7)	(347.8)	(925.7)
Series A convertible preferred stock dividends	(16.4)	(15.5)	(48.6)	(45.9)
Net loss attributable to common stockholders	$ (49.4)	$ (844.2)	$ (396.4)	$ (971.6)
Basic:
Loss from continuing operations per share	$ (0.52)	$ (2.59)	$ (2.09)	$ (3.46)
Earnings (loss) from discontinued operations per share	0.29	(1.39)	0.24	(1.16)
Loss per share	(0.23)	(3.98)	(1.85)	(4.62)
Diluted:
Loss from continuing operations per share	(0.52)	(2.59)	(2.09)	(3.46)
Earnings (loss) from discontinued operations per share	0.29	(1.39)	0.24	(1.16)
Loss per share	$ (0.23)	$ (3.98)	$ (1.85)	$ (4.62)
Weighted average shares outstanding:
Basic	215.9	211.9	213.9	210.4
Diluted	215.9	211.9	213.9	210.4

Discontinued Operations - Summary of components of balance sheet information for assets and liabilities held for sale (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Total current assets	$ 1,345.5	$ 734.4
Total noncurrent assets	0.0	829.8
Total current liabilities held for sale	235.4	479.9
Total noncurrent liabilities	0.0	20.9
Discontinued Operations [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cash and cash equivalents	64.2	43.5
Accounts receivable, net	265.5	476.6
Inventories, net	190.3	297.3
Prepaid expenses and other	7.4	34.3
Property, plant, and equipment, net	62.5	0.0
Goodwill	617.8	0.0
Other intangible assets, net	111.6	0.0
Other assets	24.2	59.7
Total current assets	1,343.5	911.4
Loss on classification of held for sale	0.0	(177.0)
Total current assets held for sale	1,343.5	734.4
Property, plant, and equipment, net	0.0	67.3
Goodwill	0.0	616.8
Other intangible assets, net	0.0	123.2
Other noncurrent assets	0.0	22.5
Total noncurrent assets	0.0	829.8
Total assets held for sale	1,343.5	1,564.2
Accounts payable	142.8	297.7
Accrued and other liabilities	92.6	182.2
Total current liabilities held for sale	235.4	479.9
Deferred income taxes	0.0	15.9
Other noncurrent liabilities	0.0	5.0
Total noncurrent liabilities	0.0	20.9
Total liabilities held for sale	$ 235.4	$ 500.8

Acquisitions - Preliminary Determination of Fair Value of Identifiable Assets Acquired and Liabilities Assumed (Parenthetical) (Detail) - Casa Systems Inc [Member] - USD ($)
$ in Millions

Sep. 30, 2024

Jun. 07, 2024

Business Acquisition [Line Items]

Fair value of accounts receivable net

^[1]

$ 4.4

Gross contractual amount

12.2

Receivables expected uncollectible amount

7.0

Restatement Adjustment [Member]

Business Acquisition [Line Items]

Fair value of accounts receivable net

^[1]

$ 0.8

$ 5.2

[1]	The fair value of accounts receivable, net is $5.2 million with a gross contractual amount of $12.2 million. The Company expects $7.0 million to be uncollectible.

Restructuring Costs (Credits), Net - Restructuring Liabilities Included in Company's Condensed Consolidated Balance Sheets (Detail) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Restructuring Cost and Reserve [Line Items]
Total restructuring liabilities	$ 2.9	$ 11.6
Accrued and Other Liabilities [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring liabilities	2.9	11.5
Other Noncurrent Liabilities [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring reserve, non-current	$ 0.0	$ 0.1

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Goodwill - Goodwill by Reportable Segment (Detail) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Goodwill [Line Items]
Goodwill, gross, Beginning balance	$ 4,832.7	$ 4,823.5
Goodwill, net	2,906.9	2,897.7
Foreign Exchange and Other	9.2
Goodwill, gross, Ending balance	4,832.7
Accumulated Impairment Losses	(1,925.8)	(1,925.8)
CCS [Member]
Goodwill [Line Items]
Goodwill, gross, Beginning balance	2,295.2	2,291.0
Goodwill, net	2,144.6	2,140.4
Foreign Exchange and Other	4.2
Goodwill, gross, Ending balance	2,295.2
Accumulated Impairment Losses	(150.6)	(150.6)
NICS [Member]
Goodwill [Line Items]
Goodwill, gross, Beginning balance	537.7	537.1
Goodwill, net	496.5	495.9
Foreign Exchange and Other	0.6
Goodwill, gross, Ending balance	537.7
Accumulated Impairment Losses	(41.2)	(41.2)
ANS [Member]
Goodwill [Line Items]
Goodwill, gross, Beginning balance	1,999.8	1,995.4
Goodwill, net	265.8	261.4
Foreign Exchange and Other	4.4
Goodwill, gross, Ending balance	1,999.8
Accumulated Impairment Losses	$ (1,734.0)	$ (1,734.0)

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Discontinued Operations

9 Months Ended

Sep. 30, 2024

Discontinued Operations and Disposal Groups [Abstract]

Discontinued Operations

3. DISCONTINUED OPERATIONS

On July 18, 2024, the Company entered into a definitive agreement with Amphenol, pursuant to which Amphenol has agreed to acquire the Company’s OWN segment and the DAS business unit of its NICS segment in exchange for approximately $2.1 billion in cash, to be paid by Amphenol upon closing.

The OWN segment and DAS business unit qualified as “held for sale” per ASC 360-10 in the third quarter of 2024 and were classified as a discontinued operation per ASC 205-20, as the Company determined, qualitatively and quantitatively, that this transaction represents a strategic shift that has or will have a major effect on the Company’s operations and financial results. As such, activity directly attributable to the OWN segment and DAS business unit has been removed from continuing operations and presented in income (loss) from discontinued operations, net of income taxes, on the Condensed Consolidated Statements of Operations for all periods presented. In addition, all assets and liabilities of the OWN segment and DAS business unit were classified as assets and liabilities held for sale on the Condensed Consolidated Balance Sheets as of September 30, 2024 and December 31, 2023.

On January 9, 2024, the Company completed the sale of the Home business to Vantiva pursuant to the Call Option Agreement entered into on October 2, 2023 and the Purchase Agreement dated as of December 7, 2023, in exchange for (i) 134,704,669 shares of Vantiva common stock representing a 24.73% equity stake in Vantiva (determined on a fully diluted basis), (ii) $250,465 in cash (in addition to cash paid in exchange for the cash on the Home business companies’ balance sheets) and (iii) an earn-out of up to $100 million in the aggregate. The earn-out payments are contingent upon Vantiva achieving adjusted EBITDA equal to or greater than €400 million for one or more of Vantiva’s first five fiscal years following the closing of the transaction. The earn-out payment with respect to any fiscal year will be subject to an additional annual cap, the amount of which will depend on certain elections made by the Company following Vantiva reaching the €400 million adjusted EBITDA threshold for the first time, and on Vantiva’s maintenance of certain liquidity levels (after giving effect to such payment).

The Home business qualified as “held for sale” per ASC 360-10 in the fourth quarter of 2023 and was classified as a discontinued operation per ASC 205-20, as the Company determined, qualitatively and quantitatively, that this transaction represents a strategic shift that has or will have a major effect on the Company’s operations and financial results. As such, activity directly attributable to the Home business has been removed from continuing operations and presented in income (loss) from discontinued operations, net of income taxes, on the Condensed Consolidated Statements of Operations for all periods presented. In addition, all assets and liabilities of the Home business were classified as assets and liabilities held for sale on the Consolidated Balance Sheets as of December 31, 2023, and in connection with the “held for sale” classification, the Company recognized a loss on classification as held for sale of $177.0 million in the fourth quarter of 2023. Upon the closing of the transaction on January 9, 2024, the Company recognized an additional loss of $75.3 million, which was included in income (loss) from discontinued operations, net of income taxes, on the Condensed Consolidated Statements of Operations for the nine months ended September 30, 2024.

In conjunction with the closing of the Home business transaction, the Company entered into a transition service agreement with Vantiva (Vantiva TSA), whereby the Company provides and receives certain post-closing support on a transitional basis which is included in continuing operations in transition service agreement income. The terms of the Vantiva TSA vary based on the services provided thereunder, with the longest such term having a duration of sixteen months. The Vantiva TSA provides options to extend services for up to two renewal terms of three months each. Following the closing of the transaction, the Company also entered into a Supply Agreement with Vantiva (Vantiva Supply Agreement), whereby the Company sells certain retained inventory at cost, or market price if below cost, for a period of two years. The Company’s investment in Vantiva is accounted for using the equity method of accounting, and the carrying value of the investment is included in other noncurrent assets in the Condensed Consolidated Balance Sheets. The Company recognized a loss on its investment of $17.0 million in the second quarter of 2024, as a result of recording its proportionate share of loss on its equity investment, which is recorded on a one-quarter lag basis in discontinued operations in the Condensed Consolidated Statements of Operations beginning in the second quarter of 2024. The investment in the ordinary shares is subject to a lock-up period, until the earlier of eighteen months, or the occurrence of a change of control or the entry into an agreement that would result in a change of control, following closing.

During the first quarter of 2024, the Company recorded a $48.3 million loss on disposal of the Home business, with an incremental $5.5 million loss on disposal related to settlements of certain retained obligations recognized during the third quarter. During the second quarter of 2024, the Company recognized a loss on impairment of $17.2 million, based on Level 3 valuation inputs which included contractual payment amounts and market comparable information, related to Home business patents. In addition, during the first quarter of 2024, the Company recorded a loss on disposal of the Home business. The losses were recorded in income (loss) from discontinued operations, net of income taxes on the Condensed Consolidated Statements of Operations.

The following table presents the summarized components of income (loss) from discontinued operations, net of income taxes for the three months ended September 30, 2023 and 2024:


	OWN						DAS						Home						Total
	2024			2023			2024			2023			2024			2023			2024			2023
Net sales	$	258.5		$	210.3		$	73.6		$	86.4		$	13.4		$	249.4		$	345.5		$	546.1
Cost of sales		147.8			129.6			40.0			46.3			14.0			204.3			201.8			380.2
Gross profit (loss)		110.7			80.7			33.6			40.1			(0.6	)		45.1			143.7			165.9
Operating expenses:
Selling, general and administrative		21.1			12.3			9.5			10.3			1.1			20.8			31.7			43.4
Research and development		13.3			9.8			7.8			7.4			—			22.9			21.1			40.1
Amortization of purchased intangible assets		1.0			4.9			0.6			1.6			—			25.9			1.6			32.4
Restructuring costs (credits), net		—			(0.4	)		—			(1.7	)		—			0.4			—			(1.7	)
Asset impairments		—			—			—			—			—			469.2			—			469.2
Total operating expenses		35.4			26.6			17.9			17.6			1.1			539.2			54.4			583.4
Operating income (loss)		75.3			54.1			15.7			22.5			(1.7	)		(494.1	)		89.3			(417.5	)
Other income (expense), net		2.2			(1.4	)		—			—			(0.2	)		(0.1	)		2.0			(1.5	)
Income (loss) from operations of discontinued businesses before income taxes		77.5			52.7			15.7			22.5			(1.9	)		(494.2	)		91.3			(419.0	)
Loss on disposal of discontinued operations before income taxes		—			—			—			—			(5.5	)		—			(5.5	)		—
Income tax (expense) benefit		(15.6	)		(14.3	)		(3.2	)		(6.1	)		(3.3	)		144.5			(22.1	)		124.1
Income (loss) from discontinued operations, net of income taxes	$	61.9		$	38.4		$	12.5		$	16.4		$	(10.7	)	$	(349.7	)	$	63.7		$	(294.9	)

The following table presents the summarized components of income (loss) from discontinued operations, net of income taxes for the nine months ended September 30, 2023 and 2024:


	OWN						DAS						Home						Total
	2024			2023			2024			2023			2024			2023			2024			2023
Net sales	$	710.8		$	697.5		$	222.0		$	263.7		$	46.0		$	916.1		$	978.8		$	1,877.3
Cost of sales (1)		411.5			434.9			118.9			148.3			60.4			761.1			590.8			1,344.3
Gross profit (loss)		299.3			262.6			103.1			115.4			(14.4	)		155.0			388.0			533.0
Operating expenses:
Selling, general and administrative		52.2			35.9			26.4			33.0			13.8			77.2			92.4			146.1
Research and development		37.9			35.3			22.0			23.3			0.1			75.7			60.0			134.3
Amortization of purchased intangible assets		8.5			15.2			3.1			4.9			6.4			77.2			18.0			97.3
Restructuring costs (credits), net		—			(1.8	)		—			4.0			—			6.3			—			8.5
Asset impairments		—			—			—			—			17.2			469.2			17.2			469.2
Total operating expenses		98.6			84.6			51.5			65.2			37.5			705.6			187.6			855.4
Operating income (loss)		200.7			178.0			51.6			50.2			(51.9	)		(550.6	)		200.4			(322.4	)
Other income (expense), net (2)		(3.5	)		(5.9	)		—			—			(18.3	)		0.9			(21.8	)		(5.0	)
Income (loss) from operations of discontinued businesses before income taxes		197.2			172.1			51.6			50.2			(70.2	)		(549.7	)		178.6			(327.4	)
Loss on disposal of discontinued operations before income taxes		—			—			—			—			(53.8	)		—			(53.8	)		—
Income tax (expense) benefit		(48.0	)		(40.7	)		(12.5	)		(11.9	)		(14.2	)		136.2			(74.7	)		83.6
Income (loss) from discontinued operations, net of income taxes	$	149.2		$	131.4		$	39.1		$	38.3		$	(138.2	)	$	(413.5	)	$	50.1		$	(243.8	)

(1)

Cost of sales includes a charge of $19.5 million for excess and obsolete inventory related to the Home business during the nine months ended September 30, 2024.

(2)

Other income (expense), net includes a loss on equity investment of $17.0 million for the nine months ended September 30, 2024.

The following table presents balance sheet information for assets and liabilities held for sale related to the discontinued operations:


	September 30, 2024		December 31, 2023
Cash and cash equivalents	$	64.2	$	43.5
Accounts receivable, net		265.5		476.6
Inventories, net		190.3		297.3
Prepaid expenses and other		7.4		34.3
Property, plant, and equipment, net		62.5		—
Goodwill		617.8		—
Other intangible assets, net		111.6		—
Other assets		24.2		59.7
Total current assets		1,343.5		911.4
Loss on classification of held for sale		—		(177.0	)
Total current assets held for sale	$	1,343.5	$	734.4
Property, plant, and equipment, net		—		67.3
Goodwill		—		616.8
Other intangible assets, net		—		123.2
Other noncurrent assets		—		22.5
Total noncurrent assets		—		829.8
Total assets held for sale	$	1,343.5	$	1,564.2

Accounts payable	$	142.8	$	297.7
Accrued and other liabilities		92.6		182.2
Total current liabilities held for sale	$	235.4	$	479.9
Deferred income taxes		—		15.9
Other noncurrent liabilities		—		5.0
Total noncurrent liabilities		—		20.9
Total liabilities held for sale	$	235.4	$	500.8

The following table presents the details of the loss on disposal of Home business:


	January 9, 2024
Consideration received (net of cash acquired):
Fair value of shares issued to seller	$	17.0
Total disposal consideration		17.0
Carrying value of net assets sold		(43.4	)
Loss on disposal of Home business before income taxes and reclassification of foreign currency translation		(26.4	)
Reclassification of foreign currency translation		(27.4	)
Loss on disposal of Home business before income taxes		(53.8	)
Income tax expense		(21.5	)
Loss on disposal of Home business, net of income taxes	$	(75.3	)

The cash flows related to discontinued operations have not been segregated in the Condensed Consolidated Statements of Cash Flows, and accordingly, they include the results from continuing and discontinued operations. The Company’s cash inflows related to the Vantiva TSA and inventory sales resulting from the Home business transaction, as described above, were $7.4 million and $12.5 million, respectively, for the three months ended September 30, 2024, and $19.9 million and $30.7 million, respectively, for the nine months ended September 30, 2024. The following table summarizes significant non-cash operating items of the discontinued operations included in the Condensed Consolidated Statements of Cash Flows:


	Nine Months Ended
	September 30,
	2024		2023
Loss on disposal of Home business	$	53.8	$	—
Depreciation and amortization		24.2		114.7
Asset impairments		17.2		469.2
Loss on equity investment		17.0		—
Equity-based compensation		2.8		6.4
Capital expenditures		0.7		4.1

The Company also recorded a partial impairment of $469.2 million related to the Home segment's intangible assets during the third quarter of 2023. The Company estimated the fair value of the asset group using Company-specific inputs, including estimates of consideration to be received upon the impending divestiture, as well as other market participant assumptions. The determination of the impairment charge was based on Level 3 valuation inputs.

Supplemental Financial Statement Information - Inventories (Detail) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Inventory Disclosure [Abstract]
Raw materials	$ 423.5	$ 478.3
Work in process	161.6	119.9
Finished goods	258.4	302.6
Total inventories, net	$ 843.5	$ 900.8

Financing - Summary of Debt (Parenthetical) (Detail)	9 Months Ended
Financing - Summary of Debt (Parenthetical) (Detail)	Sep. 30, 2024	Dec. 31, 2023
7.125% Senior Notes Due July 2028 [Member]
Debt Instrument [Line Items]
Maturity month and year	2028-07
Interest rate	7.125%	7.125%
5.00% Senior Notes Due March 2027 [Member]
Debt Instrument [Line Items]
Maturity month and year	2027-03
Interest rate	5.00%	5.00%
8.25% Senior Notes Due 2027 [Member]
Debt Instrument [Line Items]
Maturity month and year	2027-03
Interest rate	8.25%	8.25%
6.00% Senior Notes Due June 2025 [Member]
Debt Instrument [Line Items]
Maturity month and year	2025-06
Interest rate	6.00%	6.00%
4.75% Senior Secured Notes Due September 2029 [Member]
Debt Instrument [Line Items]
Maturity month and year	2029-09
Interest rate	4.75%	4.75%
6.00% Senior Secured Notes Due 2026 [Member]
Debt Instrument [Line Items]
Maturity month and year	2026-03
Interest rate	6.00%	6.00%
Senior Secured Term Loan Due April 2026 [Member]
Debt Instrument [Line Items]
Maturity month and year	2026-04

Goodwill (Tables)

9 Months Ended

Sep. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill by Reportable Segment

The following table presents the activity in goodwill by reportable segment:


	December 31, 2023							Activity		September 30, 2024
	Goodwill		Accumulated Impairment Losses			Total		Foreign Exchange and Other		Goodwill		Accumulated Impairment Losses			Total
CCS	$	2,291.0	$	(150.6	)	$	2,140.4	$	4.2	$	2,295.2	$	(150.6	)	$	2,144.6
NICS		537.1		(41.2	)		495.9		0.6		537.7		(41.2	)		496.5
ANS		1,995.4		(1,734.0	)		261.4		4.4		1,999.8		(1,734.0	)		265.8
Total	$	4,823.5	$	(1,925.8	)	$	2,897.7	$	9.2	$	4,832.7	$	(1,925.8	)	$	2,906.9

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482548/350-20-55-24

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
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-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1A

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-2

+ Details

Acquisitions - Summary of Preliminary Valuations of Finite Lived Intangible Assets Acquired (Detail) - Casa Systems Inc [Member] $ in Millions	Jun. 07, 2024 USD ($)
Acquired Finite-Lived Intangible Assets [Line Items]
Estimated Fair Value	$ 21.7
Customer Relationships [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Estimated Fair Value	$ 5.8
Weighted Average Estimated Useful Life	12 years
Existing Technology [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Estimated Fair Value	$ 15.9
Weighted Average Estimated Useful Life	7 years

Discontinued Operations - Additional Information (Detail) € in Millions, $ in Millions					3 Months Ended					9 Months Ended
	Jul. 18, 2024 USD ($)	Jan. 09, 2024 USD ($)	Dec. 07, 2023 USD ($) shares	Oct. 02, 2023 EUR (€)	Sep. 30, 2024 USD ($)	Jun. 30, 2024 USD ($)	Mar. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	Oct. 02, 2023 USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loss on classification as held for sale								$ 177.0
Loss recognized		$ 75.3			$ 5.5		$ 48.3
Loss on investment recognized						$ 17.0
Asset impairments										$ 17.2	$ 895.1
Fair Value, Inputs, Level 3
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Asset impairments						$ 17.2
Discontinued Operations, Held-for-Sale [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Impairment of long lived assets									$ 469.2
Loss recognized					91.3				(419.0)	178.6	(327.4)
Asset impairments					0.0				$ 469.2	17.2	$ 469.2
Discontinued Operations, Held-for-Sale [Member] \| Vantiva Transition Service Agreement
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cash inflows related to inventory sales					7.4					19.9
Discontinued Operations, Held-for-Sale [Member] \| Inventory Sales
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cash inflows related to inventory sales					$ 12.5					30.7
OWN and Distributed Antenna Systems business unit of NICS segment [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cash Proceeds from Sale of Segment	$ 2,100.0									$ 2,100.0
Vantiva [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Business acquisition number of shares issued \| shares			134,704,669
Cash payments for business acquisition			$ 250,465.0
Earn-out payment, up to												$ 100.0
Adjusted EBITDA \| €				€ 400
Adjusted EBITDA threshold \| €				€ 400
Vantiva [Member] \| Initial Shares Purchased [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Business acquisition non cash ownership interest acquired			24.73%

Condensed Consolidated Statements of Stockholders' Deficit (Unaudited) - USD ($) $ in Millions	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Deficit [Member]	Accumulated Other Comprehensive Loss [Member]	Treasury Stock at Cost [Member]
Beginning balance, Shares at Dec. 31, 2022		208,371,426
Issuance of shares under equity-based compensation plans, shares		5,166,462
Shares surrendered under equity-based compensation plans		(1,619,134)
Ending balance, Shares at Sep. 30, 2023		211,918,754
Beginning balance at Dec. 31, 2022		$ 2.2	$ 2,542.9	$ (3,502.2)	$ (296.3)	$ (292.6)
Issuance of shares under equity-based compensation plans		0.1
Equity-based compensation			35.5
Dividend on Series A convertible preferred stock			(45.9)
Other			21.9
Net loss	$ (925.7)			(925.7)
Other comprehensive income (loss), net of tax	(21.1)				(21.1)
Net shares surrendered under equity-based compensation plans						(8.9)
Ending balance at Sep. 30, 2023	(2,490.1)	$ 2.3	2,554.4	(4,427.9)	(317.4)	(301.5)
Beginning balance, Shares at Jun. 30, 2023		211,912,464
Issuance of shares under equity-based compensation plans, shares		9,362
Shares surrendered under equity-based compensation plans		(3,072)
Ending balance, Shares at Sep. 30, 2023		211,918,754
Beginning balance at Jun. 30, 2023		$ 2.3	2,558.7	(3,599.2)	(276.2)	(301.5)
Issuance of shares under equity-based compensation plans		0.0
Equity-based compensation			11.3
Dividend on Series A convertible preferred stock			(15.5)
Other			(0.1)
Net loss	(828.7)			(828.7)
Other comprehensive income (loss), net of tax	(41.2)				(41.2)
Net shares surrendered under equity-based compensation plans						0.0
Ending balance at Sep. 30, 2023	$ (2,490.1)	$ 2.3	2,554.4	(4,427.9)	(317.4)	(301.5)
Beginning balance, Shares at Dec. 31, 2023	212,108,634	212,108,634
Issuance of shares under equity-based compensation plans, shares		4,961,268
Shares surrendered under equity-based compensation plans		(1,212,389)
Ending balance, Shares at Sep. 30, 2024	215,857,513	215,857,513
Beginning balance at Dec. 31, 2023	$ (2,968.8)	$ 2.3	2,550.4	(4,953.1)	(266.7)	(301.7)
Issuance of shares under equity-based compensation plans		0.0
Equity-based compensation			21.1
Dividend on Series A convertible preferred stock			(48.6)
Other			0.0
Net loss	(347.8)			(347.8)
Other comprehensive income (loss), net of tax	23.5				23.5
Net shares surrendered under equity-based compensation plans						(1.9)
Ending balance at Sep. 30, 2024	$ (3,322.5)	$ 2.3	2,522.9	(5,300.9)	(243.2)	(303.6)
Beginning balance, Shares at Jun. 30, 2024		215,851,423
Issuance of shares under equity-based compensation plans, shares		9,387
Shares surrendered under equity-based compensation plans		(3,297)
Ending balance, Shares at Sep. 30, 2024	215,857,513	215,857,513
Beginning balance at Jun. 30, 2024		$ 2.3	2,531.0	(5,267.9)	(280.7)	(303.5)
Issuance of shares under equity-based compensation plans		0.0
Equity-based compensation			8.3
Dividend on Series A convertible preferred stock			(16.4)
Other			0.0
Net loss	$ (33.0)			(33.0)
Other comprehensive income (loss), net of tax	37.5				37.5
Net shares surrendered under equity-based compensation plans						(0.1)
Ending balance at Sep. 30, 2024	$ (3,322.5)	$ 2.3	$ 2,522.9	$ (5,300.9)	$ (243.2)	$ (303.6)

Segments and Geographic Information - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Segment Reporting Information [Line Items]
Inventory, Net	$ 843.5		$ 843.5		$ 900.8
Retained Business [Member]
Segment Reporting Information [Line Items]
Inventory, Net	$ 24.4		$ 24.4		$ 88.0
Non-US [Member] \| Sales Revenue, Net [Member] \| Customer Concentration Risk [Member]
Segment Reporting Information [Line Items]
Concentration risk percentage	34.00%	34.20%	34.60%	33.70%

Restructuring Costs (Credits), Net - Additional Information (Detail) - Commscope Next [Member] $ in Millions	9 Months Ended
	Sep. 30, 2024 USD ($)
Restructuring Cost and Reserve [Line Items]
Recognized restructuring charges	$ 204.8
2024 [Member]
Restructuring Cost and Reserve [Line Items]
Expected cash payments	$ 2.9

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Discontinued Operations (Tables)

9 Months Ended

Sep. 30, 2024

Discontinued Operations and Disposal Groups [Abstract]

Summary of Components of Discontinuing Operations Included in Financial Statements

The following table presents the summarized components of income (loss) from discontinued operations, net of income taxes for the three months ended September 30, 2023 and 2024:


	OWN						DAS						Home						Total
	2024			2023			2024			2023			2024			2023			2024			2023
Net sales	$	258.5		$	210.3		$	73.6		$	86.4		$	13.4		$	249.4		$	345.5		$	546.1
Cost of sales		147.8			129.6			40.0			46.3			14.0			204.3			201.8			380.2
Gross profit (loss)		110.7			80.7			33.6			40.1			(0.6	)		45.1			143.7			165.9
Operating expenses:
Selling, general and administrative		21.1			12.3			9.5			10.3			1.1			20.8			31.7			43.4
Research and development		13.3			9.8			7.8			7.4			—			22.9			21.1			40.1
Amortization of purchased intangible assets		1.0			4.9			0.6			1.6			—			25.9			1.6			32.4
Restructuring costs (credits), net		—			(0.4	)		—			(1.7	)		—			0.4			—			(1.7	)
Asset impairments		—			—			—			—			—			469.2			—			469.2
Total operating expenses		35.4			26.6			17.9			17.6			1.1			539.2			54.4			583.4
Operating income (loss)		75.3			54.1			15.7			22.5			(1.7	)		(494.1	)		89.3			(417.5	)
Other income (expense), net		2.2			(1.4	)		—			—			(0.2	)		(0.1	)		2.0			(1.5	)
Income (loss) from operations of discontinued businesses before income taxes		77.5			52.7			15.7			22.5			(1.9	)		(494.2	)		91.3			(419.0	)
Loss on disposal of discontinued operations before income taxes		—			—			—			—			(5.5	)		—			(5.5	)		—
Income tax (expense) benefit		(15.6	)		(14.3	)		(3.2	)		(6.1	)		(3.3	)		144.5			(22.1	)		124.1
Income (loss) from discontinued operations, net of income taxes	$	61.9		$	38.4		$	12.5		$	16.4		$	(10.7	)	$	(349.7	)	$	63.7		$	(294.9	)

The following table presents the summarized components of income (loss) from discontinued operations, net of income taxes for the nine months ended September 30, 2023 and 2024:


	OWN						DAS						Home						Total
	2024			2023			2024			2023			2024			2023			2024			2023
Net sales	$	710.8		$	697.5		$	222.0		$	263.7		$	46.0		$	916.1		$	978.8		$	1,877.3
Cost of sales (1)		411.5			434.9			118.9			148.3			60.4			761.1			590.8			1,344.3
Gross profit (loss)		299.3			262.6			103.1			115.4			(14.4	)		155.0			388.0			533.0
Operating expenses:
Selling, general and administrative		52.2			35.9			26.4			33.0			13.8			77.2			92.4			146.1
Research and development		37.9			35.3			22.0			23.3			0.1			75.7			60.0			134.3
Amortization of purchased intangible assets		8.5			15.2			3.1			4.9			6.4			77.2			18.0			97.3
Restructuring costs (credits), net		—			(1.8	)		—			4.0			—			6.3			—			8.5
Asset impairments		—			—			—			—			17.2			469.2			17.2			469.2
Total operating expenses		98.6			84.6			51.5			65.2			37.5			705.6			187.6			855.4
Operating income (loss)		200.7			178.0			51.6			50.2			(51.9	)		(550.6	)		200.4			(322.4	)
Other income (expense), net (2)		(3.5	)		(5.9	)		—			—			(18.3	)		0.9			(21.8	)		(5.0	)
Income (loss) from operations of discontinued businesses before income taxes		197.2			172.1			51.6			50.2			(70.2	)		(549.7	)		178.6			(327.4	)
Loss on disposal of discontinued operations before income taxes		—			—			—			—			(53.8	)		—			(53.8	)		—
Income tax (expense) benefit		(48.0	)		(40.7	)		(12.5	)		(11.9	)		(14.2	)		136.2			(74.7	)		83.6
Income (loss) from discontinued operations, net of income taxes	$	149.2		$	131.4		$	39.1		$	38.3		$	(138.2	)	$	(413.5	)	$	50.1		$	(243.8	)

(1)

Cost of sales includes a charge of $19.5 million for excess and obsolete inventory related to the Home business during the nine months ended September 30, 2024.

(2)

Other income (expense), net includes a loss on equity investment of $17.0 million for the nine months ended September 30, 2024.

The following table presents balance sheet information for assets and liabilities held for sale related to the discontinued operations:


	September 30, 2024		December 31, 2023
Cash and cash equivalents	$	64.2	$	43.5
Accounts receivable, net		265.5		476.6
Inventories, net		190.3		297.3
Prepaid expenses and other		7.4		34.3
Property, plant, and equipment, net		62.5		—
Goodwill		617.8		—
Other intangible assets, net		111.6		—
Other assets		24.2		59.7
Total current assets		1,343.5		911.4
Loss on classification of held for sale		—		(177.0	)
Total current assets held for sale	$	1,343.5	$	734.4
Property, plant, and equipment, net		—		67.3
Goodwill		—		616.8
Other intangible assets, net		—		123.2
Other noncurrent assets		—		22.5
Total noncurrent assets		—		829.8
Total assets held for sale	$	1,343.5	$	1,564.2

Accounts payable	$	142.8	$	297.7
Accrued and other liabilities		92.6		182.2
Total current liabilities held for sale	$	235.4	$	479.9
Deferred income taxes		—		15.9
Other noncurrent liabilities		—		5.0
Total noncurrent liabilities		—		20.9
Total liabilities held for sale	$	235.4	$	500.8

The following table presents the details of the loss on disposal of Home business:


	January 9, 2024
Consideration received (net of cash acquired):
Fair value of shares issued to seller	$	17.0
Total disposal consideration		17.0
Carrying value of net assets sold		(43.4	)
Loss on disposal of Home business before income taxes and reclassification of foreign currency translation		(26.4	)
Reclassification of foreign currency translation		(27.4	)
Loss on disposal of Home business before income taxes		(53.8	)
Income tax expense		(21.5	)
Loss on disposal of Home business, net of income taxes	$	(75.3	)


	Nine Months Ended
	September 30,
	2024		2023
Loss on disposal of Home business	$	53.8	$	—
Depreciation and amortization		24.2		114.7
Asset impairments		17.2		469.2
Loss on equity investment		17.0		—
Equity-based compensation		2.8		6.4
Capital expenditures		0.7		4.1

- Definition

Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-SubTopic 10
-Topic 360
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482099/360-10-50-3

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 45
-Paragraph 11
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483475/205-20-45-11

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 3A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483499/205-20-50-3A

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 4A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483499/205-20-50-4A

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 4B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483499/205-20-50-4B

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483499/205-20-50-5A

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483499/205-20-50-5B

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5C
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483499/205-20-50-5C

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5D
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483499/205-20-50-5D

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483499/205-20-50-7

Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 360
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482099/360-10-50-3A

Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-SubTopic 20
-Topic 205
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483499/205-20-50-1

Reference 13: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483499/205-20-50-3

+ Details

Segments and Geographic Information

9 Months Ended

Sep. 30, 2024

Segment Reporting [Abstract]

Segments and Geographic Information

9. SEGMENTS AND GEOGRAPHIC INFORMATION

As a result of the pending sale of the OWN segment and DAS business unit, and the divestiture of the Home business, the Company is reporting financial performance based on the following remaining three operating segments: CCS, NICS (excluding DAS) and ANS. In addition, as of January 1, 2024, management shifted certain product lines from the Company’s CCS segment to its ANS segment to better align with how the businesses are managed. For all periods presented, amounts have been recast to reflect these operating segment changes.

The CCS segment provides fiber optic and copper connectivity and cable solutions for use in telecommunications, cable television, residential broadband networks, data centers and business enterprises. The CCS portfolio includes network solutions for indoor and outdoor network applications. Indoor network solutions include optical fiber and twisted pair structured cable solutions, intelligent infrastructure management hardware and software and network rack and cabinet enclosures. Outdoor network solutions are used in both local-area and wide-area networks and “last mile” fiber-to-the-home installations, including deployments of fiber-to-the-node, fiber-to-the-premises and fiber-to-the-distribution point to homes, businesses and cell sites.

The NICS segment provides wireless networks for enterprises and service providers. Product offerings include indoor cellular solutions such as public key infrastructure solutions, indoor and outdoor Wi-Fi and long-term evolution (LTE) access points, access and aggregation switches; an Internet of Things suite; on-premises and cloud-based control and management systems; and software and software-as-a-service applications addressing security, location, reporting and analytics.

The ANS segment’s product solutions include cable modem termination systems, video infrastructure, distribution and transmission equipment and cloud solutions that enable facility-based service providers to construct a state-of-the-art residential and metro distribution network.

The following table provides summary financial information by reportable segment:


	September 30, 2024		December 31, 2023
Identifiable segment-related assets:
CCS	$	3,730.5	$	3,597.8
NICS		937.0		950.6
ANS		1,732.7		1,957.0
Corporate and other		94.9		73.8
Total identifiable segment-related assets		6,495.1		6,579.2
Reconciliation to total assets:
Cash and cash equivalents		392.1		500.3
Deferred income tax assets		553.6		614.4
Home business assets		24.4		113.8
Assets held for sale		1,345.5		1,564.2
Total assets	$	8,810.7	$	9,371.9

The Home business assets line item above reflects certain assets retained by the Company related to the Home business, with the primary asset being net inventory related to the Home business in the amount of $24.4 million and $88.0 million as of September 30, 2024 and December 31, 2023, respectively. The Company entered into the Vantiva Supply Agreement, pursuant to which the Company will sell the retained inventory to Vantiva at cost, or market price if below cost, for a period of two years following the close of the transaction.

The Company’s measurement of segment performance is adjusted EBITDA (earnings before interest, income taxes, depreciation and amortization). The Company defines adjusted EBITDA as operating income (loss), adjusted to exclude depreciation, amortization of intangible assets, restructuring costs, asset impairments, equity-based compensation, transaction, transformation and integration costs and other items that the Company believes are useful to exclude in the evaluation of operating performance from period to period because these items are not representative of the Company’s recurring business.

The following table provides net sales, adjusted EBITDA, depreciation expense and additions to property, plant and equipment by reportable segment:


	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2024			2023			2024			2023
Net sales:
CCS	$	736.7		$	630.5		$	2,069.7		$	2,148.6
NICS		157.5			202.6			398.8			637.3
ANS		188.0			220.3			568.2			856.2
Consolidated net sales	$	1,082.2		$	1,053.4		$	3,036.7		$	3,642.1

Segment adjusted EBITDA:
CCS	$	173.9		$	80.9		$	440.3		$	314.9
NICS		27.8			39.2			6.7			133.2
ANS		18.7			56.2			66.7			165.9
Corporate and other (1)		(16.2	)		(19.5	)		(39.1	)		(69.1	)
Total segment adjusted EBITDA		204.2			156.8			474.6			544.9
Amortization of intangible assets		(56.8	)		(68.9	)		(181.4	)		(231.8	)
Restructuring (costs) credits, net		0.9			(22.0	)		(30.6	)		(43.1	)
Equity-based compensation		(7.3	)		(9.4	)		(18.3	)		(29.1	)
Asset impairments		—			(425.9	)		—			(425.9	)
Transaction, transformation and integration costs		(19.5	)		(14.6	)		(45.8	)		(17.7	)
Acquisition accounting adjustments		—			(0.4	)		—			(1.3	)
Patent claims and litigation settlements		—			3.5			—			3.5
Recovery of Russian accounts receivable		—			—			—			2.0
Cyber incident costs		—			(1.5	)		—			(5.1	)
Depreciation		(19.3	)		(26.0	)		(62.0	)		(75.2	)
Consolidated operating income (loss)	$	102.2		$	(408.4	)	$	136.5		$	(278.8	)

Depreciation expense:
CCS	$	13.5		$	15.2		$	41.0		$	45.4
NICS		1.5			2.5			5.3			7.5
ANS		4.3			5.6			14.2			17.4
Corporate and other (1)		—			2.7			1.5			4.9
Consolidated depreciation expense	$	19.3		$	26.0		$	62.0		$	75.2

Additions to property, plant and equipment:
CCS	$	5.0		$	4.5		$	11.9		$	23.9
NICS		0.6			0.8			1.4			2.3
ANS		0.5			1.4			2.3			9.1
Corporate and other (1)		0.4			0.9			1.7			4.5
Consolidated additions to property, plant and equipment	$	6.5		$	7.6		$	17.3		$	39.8

(1)

Sales to customers located outside of the U.S. comprised 34.0% and 34.6% of total net sales for the three and nine months ended September 30, 2024, respectively, compared to 34.2% and 33.7% of total net sales for the three and nine months ended September 30, 2023, respectively. Sales by geographic region, based on the destination of product shipments or service provided, were as follows:


	Three Months Ended September 30, 2024
	CCS		NICS		ANS		Total
Geographic Region:
United States	$	476.9	$	105.1	$	132.6	$	714.6
Europe, Middle East and Africa		120.1		27.1		12.1		159.3
Asia Pacific		97.3		18.3		11.0		126.6
Caribbean and Latin America		26.3		4.9		16.3		47.5
Canada		16.1		2.1		16.0		34.2
Consolidated net sales	$	736.7	$	157.5	$	188.0	$	1,082.2

	Three Months Ended September 30, 2023
	CCS		NICS		ANS		Total
Geographic Region:
United States	$	383.8	$	134.7	$	174.7	$	693.2
Europe, Middle East and Africa		100.6		37.4		15.1		153.1
Asia Pacific		99.1		20.6		6.4		126.1
Caribbean and Latin America		34.2		2.5		13.3		50.0
Canada		12.8		7.4		10.8		31.0
Consolidated net sales	$	630.5	$	202.6	$	220.3	$	1,053.4


	Nine Months Ended September 30, 2024
	CCS		NICS		ANS		Total
Geographic Region:
United States	$	1,337.7	$	247.3	$	400.5	$	1,985.5
Europe, Middle East and Africa		321.8		72.1		37.8		431.7
Asia Pacific		292.7		57.4		25.6		375.7
Caribbean and Latin America		75.2		14.1		54.8		144.1
Canada		42.3		7.9		49.5		99.7
Consolidated net sales	$	2,069.7	$	398.8	$	568.2	$	3,036.7

	Nine Months Ended September 30, 2023
	CCS		NICS		ANS		Total
Geographic Region:
United States	$	1,389.8	$	387.2	$	637.0	$	2,414.0
Europe, Middle East and Africa		317.8		130.0		76.9		524.7
Asia Pacific		286.3		86.7		17.7		390.7
Caribbean and Latin America		112.4		17.3		81.3		211.0
Canada		42.3		16.1		43.3		101.7
Consolidated net sales	$	2,148.6	$	637.3	$	856.2	$	3,642.1

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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+ Details

Financing (Tables)

9 Months Ended

Sep. 30, 2024

Debt Disclosure [Abstract]

Summary of Debt


	September 30, 2024			December 31, 2023
7.125% senior notes due July 2028	$	641.6		$	641.6
5.00% senior notes due March 2027		750.0			750.0
8.25% senior notes due March 2027		866.9			866.9
6.00% senior notes due June 2025		1,274.6			1,274.6
4.75% senior secured notes due September 2029		1,250.0			1,250.0
6.00% senior secured notes due March 2026		1,500.0			1,500.0
Senior secured term loan due April 2026		3,040.0			3,064.0
Senior secured revolving credit facility		—			—
Total principal amount of debt		9,323.1			9,347.1
Less: Original issue discount, net of amortization		(8.0	)		(11.5	)
Less: Debt issuance costs, net of amortization		(42.1	)		(57.0	)
Less: Current portion		(1,306.6	)		(32.0	)
Total long-term debt	$	7,966.4		$	9,246.6

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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+ Details

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Assets
Cash and cash equivalents	$ 392.1	$ 500.3
Accounts receivable, net of allowance for doubtful accounts of $17.9 and $24.3, respectively	664.8	592.1
Inventories, net	843.5	900.8
Prepaid expenses and other current assets	178.0	135.0
Current assets held for sale	1,345.5	734.4
Total current assets	3,423.9	2,862.6
Property, plant and equipment, net of accumulated depreciation of $757.5 and $713.4, respectively	365.0	433.3
Goodwill	2,906.9	2,897.7
Other intangible assets, net	1,276.2	1,459.5
Deferred income taxes	553.6	614.4
Other noncurrent assets	285.1	274.6
Noncurrent assets held for sale	0.0	829.8
Total assets	8,810.7	9,371.9
Liabilities and Stockholders' Equity (Deficit)
Accounts payable	381.7	330.7
Accrued and other liabilities	527.0	566.8
Current portion of long-term debt	1,306.6	32.0
Current liabilities held for sale	235.4	479.9
Total current liabilities	2,450.7	1,409.4
Long-term debt	7,966.4	9,246.6
Deferred income taxes	101.0	94.8
Other noncurrent liabilities	404.4	406.9
Noncurrent liabilities held for sale	0.0	20.9
Total liabilities	10,922.5	11,178.6
Commitments and contingencies
Series A convertible preferred stock, $0.01 par value	1,210.7	1,162.1
Stockholders' equity (deficit):
Preferred stock, $0.01 par value: Authorized shares: 200,000,000; Issued and outstanding shares: 1,210,682 and 1,162,085, respectively, Series A convertible preferred stock	0.0	0.0
Common stock, $0.01 par value: Authorized shares: 1,300,000,000; Issued and outstanding shares: 215,857,513 and 212,108,634, respectively	2.3	2.3
Additional paid-in capital	2,522.9	2,550.4
Accumulated deficit	(5,300.9)	(4,953.1)
Accumulated other comprehensive loss	(243.2)	(266.7)
Treasury stock, at cost: 15,636,515 shares and 14,424,126 shares, respectively	(303.6)	(301.7)
Total stockholders' deficit	(3,322.5)	(2,968.8)
Total liabilities and stockholders' deficit	$ 8,810.7	$ 9,371.9

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Sep. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Rule 10b5-1 Arrangement Modified	false
Non-Rule 10b5-1 Arrangement Modified	false

Financing

9 Months Ended

Sep. 30, 2024

Debt Disclosure [Abstract]

Financing

7. FINANCING


	September 30, 2024			December 31, 2023
7.125% senior notes due July 2028	$	641.6		$	641.6
5.00% senior notes due March 2027		750.0			750.0
8.25% senior notes due March 2027		866.9			866.9
6.00% senior notes due June 2025		1,274.6			1,274.6
4.75% senior secured notes due September 2029		1,250.0			1,250.0
6.00% senior secured notes due March 2026		1,500.0			1,500.0
Senior secured term loan due April 2026		3,040.0			3,064.0
Senior secured revolving credit facility		—			—
Total principal amount of debt		9,323.1			9,347.1
Less: Original issue discount, net of amortization		(8.0	)		(11.5	)
Less: Debt issuance costs, net of amortization		(42.1	)		(57.0	)
Less: Current portion		(1,306.6	)		(32.0	)
Total long-term debt	$	7,966.4		$	9,246.6

The 2025 Notes will mature in less than twelve months and have been reclassified to the current portion of long-term debt from long-term debt in the Condensed Consolidated Balance Sheets as of September 30, 2024. See Note 8 within the Company’s audited consolidated financial statements included in the 2023 Annual Report for additional information on the terms and conditions of the Company’s debt obligations.

Senior Secured Credit Facilities

During the three and nine months ended September 30, 2024, the Company made the quarterly scheduled amortization payments totaling $8.0 million and $24.0 million, respectively, on the Company’s senior secured term loan due 2026 (the 2026 Term Loan). The current portion of long-term debt reflects repayments due under the 2026 Term Loan of $32.0 million and the 2025 Notes as described above.

As of September 30, 2024, the Company did not reflect any portion of the 2026 Term Loan as a current portion of long-term debt related to the potentially required excess cash flow payment because the amount that may be payable in 2024, if any, cannot currently be reliably estimated. There is no excess cash flow payment required in 2024 related to 2023.

During the nine months ended September 30, 2024, the Company did not borrow under the Revolving Credit Facility. As of September 30, 2024, the Company had no outstanding borrowings under the Revolving Credit Facility and had availability of $567.9 million, after giving effect to borrowing base limitations and outstanding letters of credit.

Other Matters

The Company’s non-guarantor subsidiaries held $2,781 million, or 32%, of total assets and $660 million, or 6%, of total liabilities as of September 30, 2024 and accounted for $409 million, or 29%, and $1,211 million, or 30%, of net sales for the three and nine months ended September 30, 2024, respectively. All amounts presented exclude intercompany balances.

The weighted average effective interest rate on outstanding borrowings, including the impact of the interest rate swap contracts and the amortization of debt issuance costs and original issue discount, was 7.09% and 7.22% as of September 30, 2024 and December 31, 2023, respectively.

Background and Basis of Presentation

9 Months Ended

Sep. 30, 2024

Accounting Policies [Abstract]

Background and Basis of Presentation

1. BACKGROUND AND BASIS OF PRESENTATION

Background

CommScope Holding Company, Inc., along with its direct and indirect subsidiaries (CommScope or the Company), is a global provider of infrastructure solutions for communication, data center and entertainment networks. The Company’s solutions for wired and wireless networks enable service providers, including cable, telephone and digital broadcast satellite operators and media programmers, to deliver media, voice, Internet Protocol (IP) data services and Wi-Fi to their subscribers and allow enterprises to experience constant wireless and wired connectivity across complex and varied networking environments. The Company’s solutions are complemented by services including technical support, systems design and integration. CommScope is a leader in digital video and IP television distribution systems, broadband access infrastructure platforms and equipment that delivers data and voice networks to homes. CommScope’s global leadership position is built upon innovative technology, broad solution offerings, high-quality and cost-effective customer solutions, and global manufacturing and distribution scale.

On July 18, 2024, the Company entered into a definitive agreement with Amphenol Corporation, a Delaware corporation (Amphenol), pursuant to which Amphenol has agreed to acquire the Company’s Outdoor Wireless Networks (OWN) segment and the Distributed Antenna Systems (DAS) business unit of its Networking, Intelligent Cellular & Security Solutions (NICS) segment in exchange for approximately $2.1 billion in cash, to be paid by Amphenol upon closing. The sale is expected to close within the first quarter of 2025, subject to customary closing conditions, including receipt of applicable regulatory approvals. The Company determined the anticipated sale of the OWN segment and DAS business unit met the “held for sale” criteria and the “discontinued operations” criteria in accordance with Accounting Standards Codification (ASC) No. 360-10, Impairment and Disposal of Long–Lived Assets, and ASC No. 205-20, Presentation of Financial Statements: Discontinued Operations, in the third quarter of 2024 due to its relative size and strategic rationale. For all periods presented, amounts in these consolidated financial statements have been recast to reflect the discontinuation of the OWN segment and DAS business unit in accordance with guidance.

The Company completed the acquisition of certain assets of Casa Systems, Inc. and its subsidiaries (Casa) on June 7, 2024 (the Casa Transaction). As part of the Casa Transaction, the Company acquired certain assets (the Casa Assets) and assumed certain specified liabilities (the Casa Liabilities) of Casa. The sale was conducted pursuant to the bid procedures (the Bid Procedures) established in the chapter 11 cases of Casa Systems, Inc. and certain affiliates in the United States (U.S.) Bankruptcy Court for the District of Delaware (the Bankruptcy Court). Pursuant to the Bid Procedures, the Company was designated as the successful bidder following an auction held on May 29, 2024. On June 5, 2024, the Bankruptcy Court entered an order authorizing the sale of the Casa Assets to the Company pursuant to section 363 of the U.S. Bankruptcy Code (subject to the terms thereof). The sale closed on June 7, 2024 and, at such time, the Company funded the purchase price of $45.1 million and settled certain assumed Casa Liabilities, with cash on hand. The Company plans to integrate this strategic acquisition into its Access Network Solutions (ANS) segment and expects the acquisition to strengthen its ANS segment’s position by enhancing its virtual cable modem termination systems ( CMTS) and passive optical network (PON) product offerings, which will enable customers to migrate to distributed access architecture (DAA) solutions at their own speed, and further grow its customer base. See Note 2 for additional discussion of the Casa Transaction.

On January 9, 2024, the Company completed the sale of its Home Networks (Home) segment and substantially all of the associated segment assets and liabilities (Home business) to Vantiva SA (Vantiva) pursuant to the Call Option Agreement entered into on October 2, 2023 and Purchase Agreement dated as of December 7, 2023. In the fourth quarter of 2023, the Company determined the sale of the Home business met the “held for sale” criteria and the “discontinued operations” criteria in accordance with accounting guidance. All prior period amounts in these condensed consolidated financial statements have been recast to reflect the discontinuation of the Home business.

The discussions in these condensed consolidated financial statements relate solely to the Company’s continuing operations, unless otherwise noted. As a result, the Company is reporting financial performance based on the following remaining three operating segments, which excludes the OWN segment, DAS business unit in NICS and Home business: Connectivity and Cable Solutions (CCS), NICS (excluding DAS) and ANS. See Note 3 for further discussion of the discontinued operations related to the OWN segment, DAS business unit and Home business.

Basis of Presentation

Liquidity

Concentrations of Risk and Related Party Transactions

Commitments and Contingencies

Product Warranties

The following table summarizes the activity in the product warranty accrual, included in accrued and other liabilities and other noncurrent liabilities on the Condensed Consolidated Balance Sheets:


	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2024			2023			2024			2023
Product warranty accrual, beginning of period	$	19.7		$	29.5		$	20.6		$	28.3
Provision for warranty claims		5.6			0.7			14.3			9.6
Warranty claims paid		(4.7	)		(3.9	)		(14.3	)		(11.7	)
Foreign exchange		—			(0.1	)		—			—
Product warranty accrual, end of period	$	20.6		$	26.2		$	20.6		$	26.2

Non-cancellable Purchase Obligations

Legal Proceedings

Asset Impairments

Goodwill

During the third quarter of 2023, the Company concluded that a triggering event occurred, primarily due to a sustained decrease in the market value of the Company’s debt and common stock affecting the overall business and changes in expected future cash flows due to reduced earnings forecasts and current macroeconomic conditions, including a rising interest rate environment. The Company performed an interim quantitative goodwill impairment test as of September 30, 2023 for its ANS and Building and Data Center Connectivity (BDCC) reporting units, which were most sensitive to negative performance and outlook, to compare the fair values of the reporting units to their carrying amounts, including the goodwill. As a result, for the three and nine months ended September 30, 2023, the Company recorded a goodwill impairment charge of $425.9 million in asset impairments in the Condensed Consolidated Statements of Operations to partially write down the carrying amount of the ANS reporting unit goodwill. As of September 30, 2023, there was no impairment identified in the BDCC reporting unit within the CCS reportable segment. See Note 4 for further discussion.

Subsequently, the Company’s ANS and BDCC reporting units failed the annual goodwill impairment test, and partial impairments were recorded as of October 1, 2023.

Long-lived Assets

Income Taxes

Earnings (Loss) Per Share

The following table presents the basis for the EPS computations (in millions, except per share data):


	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2024			2023			2024			2023
Numerator:
Loss from continuing operations	$	(96.7	)	$	(533.8	)	$	(397.9	)	$	(681.9	)
Income (loss) from discontinued operations, net of tax		63.7			(294.9	)		50.1			(243.8	)
Net loss	$	(33.0	)	$	(828.7	)	$	(347.8	)	$	(925.7	)
Dividends on Series A convertible preferred stock		(16.4	)		(15.5	)		(48.6	)		(45.9	)
Net loss attributable to common stockholders	$	(49.4	)	$	(844.2	)	$	(396.4	)	$	(971.6	)

Denominator:
Weighted average common shares outstanding – basic		215.9			211.9			213.9			210.4
Dilutive effect of as-if converted Series A convertible preferred stock		—			—			—			—
Dilutive effect of equity-based awards		—			—			—			—
Weighted average common shares outstanding – diluted		215.9			211.9			213.9			210.4

Basic:
Loss from continuing operations per share	$	(0.52	)	$	(2.59	)	$	(2.09	)	$	(3.46	)
Earnings (loss) from discontinued operations per share		0.29			(1.39	)		0.24			(1.16	)
Loss per share	$	(0.23	)	$	(3.98	)	$	(1.85	)	$	(4.62	)

Diluted:
Loss from continuing operations per share	$	(0.52	)	$	(2.59	)	$	(2.09	)	$	(3.46	)
Earnings (loss) from discontinued operations per share		0.29			(1.39	)		0.24			(1.16	)
Loss per share	$	(0.23	)	$	(3.98	)	$	(1.85	)	$	(4.62	)

Recent Accounting Pronouncements

Adopted During the Nine Months Ended September 30, 2024

Issued but Not Adopted