Windstream 2008 Annual Report Download - page 120

• investment policies and strategies, including target allocation percentages, and
• significant concentrations of risk in plan assets.
FSP FAS 132(R)-1 is effective for fiscal years ending after December 15, 2009. Upon implementation, Windstream
will provide expanded disclosures in its December 31, 2009 Form 10-K.
Forward-Looking Statements
This Management’s Discussion and Analysis of Financial Condition and Results of Operations includes, and future
filings on Form 10-K, Form 10-Q and Form 8-K and future oral and written statements by Windstream and our
management may include, certain forward-looking statements. Windstream claims the protection of the safe-harbor for
forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 for this Annual Report
on Form 10-K. Forward-looking statements are subject to uncertainties that could cause actual future events and results
to differ materially from those expressed in the forward-looking statements. These forward-looking statements are
based on estimates, projections, beliefs, and assumptions that Windstream believes are reasonable but are not
guarantees of future events and results. Actual future events and results of Windstream may differ materially from
those expressed in these forward-looking statements as a result of a number of important factors.
Factors that could cause actual results to differ materially from those contemplated in our forward looking statements
include, among others: further adverse changes in economic conditions in the markets served by Windstream; the
extent, timing and overall effects of competition in the communications business; continued access line loss; the impact
of new, emerging or competing technologies; the adoption of inter-carrier compensation and/or universal service
reform proposals by the Federal Communications Commission or Congress that results in a significant loss of revenue
to Windstream; the risks associated with the integration of acquired businesses or the ability to realize anticipated
synergies, cost savings and growth opportunities; the availability and cost of financing in the corporate debt markets;
the potential for adverse changes in the ratings given to Windstream’s debt securities by nationally accredited ratings
organizations; the effects of federal and state legislation and rules and regulations governing the communications
industry; material changes in the communications industry generally that could adversely affect vendor relationships
with equipment and network suppliers and customer relationships with wholesale customers; unexpected results of
litigation; unexpected rulings by state public service commissions in proceedings regarding universal service funds,
inter-carrier compensation or other matters that could reduce revenues or increase expenses; the effects of
work stoppages; the impact of equipment failure, natural disasters or terrorist acts; earnings on pension plan
investments significantly below our expected long term rate of return for plan assets; and those additional factors under
the caption “Risk Factors” in Item 1A. In addition to these factors, actual future performance, outcomes and results
may differ materially because of more general factors including, among others, general industry and market conditions
and growth rates, economic conditions, and governmental and public policy changes.
Windstream undertakes no obligation to update or revise any forward-looking statements, whether as a result of new
information, future events or otherwise. The foregoing review of factors that could cause Windstream’s actual results
to differ materially from those contemplated in the forward-looking statements should be considered in connection
with information regarding risks and uncertainties that may affect Windstream’s future results included in this
Management’s Discussion and Analysis of Financial Condition and Results of Operations and in other filings by
Windstream with the Securities and Exchange Commission at www.sec.gov.
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