ATN International, Inc.
For the period ended Dec 31, 2024. Filed Mar 17, 2025.
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FY2024 · Filed Mar 17, 2025
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Regulatory and Tax Issues
Net loss attributable to noncontrolling interests, net of tax. Net loss attributable to noncontrolling interests, net of tax reflected an allocation of $5.4 million and $4.2 million of losses generated by our less than wholly owned subsidiaries for the years ended December 31, 2024 and 2023, respectively. Changes in net loss attributable to noncontrolling interests, net of tax, within our segments, consisted of the following:
| ● | International Telecom. Within our International Telecom segment, net income attributable to noncontrolling interests, net of tax increased by $5.7 million, or 80.3%, to an allocation of $12.8 million of income from an allocation of $7.1 million of income for the years ended December 31, 2024 and 2023, respectively, largely as the result of the $15.5 million gain we recorded on the disposition of assets, primarily real estate, and the result of increased profitability at certain less than wholly owned subsidiaries. |
| ● | US Telecom. Within our US Telecom segment, net loss attributable to noncontrolling interests, net of tax increased by $7.0 million, or 61.9%, to an allocation of losses of $18.3 million from an allocation of losses of $11.3 million for the years ended December 31, 2024 and 2023, respectively, as a result of increased losses at our less than wholly owned subsidiaries within this segment. |
**Net loss attributable to ATN International, Inc. stockholders.**Net loss attributable to ATN International, Inc. stockholders was $26.4 million for the year ended December 31, 2024 as compared to $14.5 million for the year ended December 31, 2023.
On a per diluted share basis, net loss was $2.10 per diluted share for the year ended December 31, 2024 as compared to $1.25 per diluted share for the year ended December 31, 2023. Such per share amounts were negatively impacted by accrued preferred dividends of $5.6 million and $4.9 million for the years ended December 31, 2024 and 2023, respectively.
Regulatory and Tax Issues
We are involved in a number of regulatory and tax proceedings. A material and adverse outcome in one or more of these proceedings could have a material adverse impact on our financial condition and future operations. For discussion of ongoing proceedings, see Note 13 to the Consolidated Financial Statements in this Report.
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