Windstream 2012 Annual Report Download - page 127

F-29
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 us and our management may include, certain
forward-looking statements. We claim 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 foward-looking
statements. Forward looking statements include, but are not limited to, statements about our expectation to return a significant
portion of our cash flow to shareholders through our dividend, our expectation to maintain our current dividend practice at the
current rate of dividend, expected levels of support from universal service funds or other government programs, expected rates
of loss of voice lines or inter-carrier compensation, expected increases in high-speed Internet and business data connections, our
expected ability to fund operations, expected required contributions to our pension plan, capital expenditures and certain debt
maturities from cash flows from operations, expected synergies and other benefits from completed acquisitions, expected
effective federal income tax rates, expected annualized savings from the management restructuring, the amounts expected to be
received from the Rural Utilities Service to fund a portion of our broadband stimulus projects and the expected benefits of those
projects and forecasted capital expenditure amounts. These and other forward-looking statements are based on estimates,
projections, beliefs, and assumptions that we believe are reasonable but are not guarantees of future events and results. Actual
future events and our results 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 us;
• the extent, timing and overall effects of competition in the communications business;
• the impact of new, emerging or competing technologies;
• for certain operations where we lease facilities from other carriers, adverse effects on the availability, quality of
service, price of facilities and services provided by other carriers on which our services depend;
• the uncertainty regarding the implementation of the Federal Communications Commission's ("FCC") rules on
intercarrier compensation adopted in 2011, and the potential for the adoption of further rules by the FCC or Congress
on intercarrier compensation and/or universal service reform proposals that result in a significant loss of revenue to us;
• 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;
• material changes in the communications industry that could adversely affect vendor relationships with equipment and
network suppliers and customer relationships with wholesale customers;
• earnings on pension plan investments significantly below our expected long term rate of return for plan assets or a
significant change in the discount rate;
• the availability and cost of financing in the corporate debt markets;
• the potential for adverse changes in the ratings given to our debt securities by nationally accredited ratings
organizations;
• the risks associated with non-compliance by us with regulations or statutes applicable to government programs under
which we receive material amounts of end user revenue and government subsidies, or non-compliance by us, our
partners, or our subcontractors with any terms of our government contracts;
• the risks associated with the integration of acquired businesses or the ability to realize anticipated synergies, cost
savings and growth opportunities;
• unfavorable results of litigation or intellectual property infringement claims asserted against us;