Windstream 2010 Annual Report Download - page 127

Recently Issued Authoritative Guidance
The following authoritative guidance will be adopted by the Company in the reporting period indicated. This
authoritative guidance, together with the Company’s evaluation of the related impact to the consolidated financial
statements, is more fully described in Note 2.
• Goodwill Impairment (first quarter of 2011)
• Revenue Arrangements with Multiple Element Deliverables (first quarter of 2011)
• Fair Value Measurements (first quarter of 2011)
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 include, but are not limited to, statements about expected levels of support
from universal service funds or other government programs, expected rates of loss of access lines or inter-carrier
compensation, expected increases in high-speed Internet and business data connections, our expected ability to fund
operations, capital expenditures and certain debt maturities from cash flows from operations, our expected pension
contribution of approximately $60.0 million in 2011, expected synergies and other benefits from completed
acquisitions, expected effective federal income tax rates and forecasted capital expenditure amounts. These and other
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;
• unexpected adverse results related to our data center migration;
• for our competitive local exchange carrier (“CLEC”) operations, adverse effects on the availability, quality of
service and price of facilities and services provided by other incumbent local exchange carriers on which our
CLEC services depend;
• 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 that could adversely affect vendor relationships with equipment
and network suppliers and customer relationships with wholesale customers;
• unfavorable results of litigation;
• unfavorable 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 of this annual report.
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
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