| Item 7.01 | Regulation FD Disclosure. |
During the first quarter of 2019, CenturyLink, Inc. (the “Company” or “we” or “us”) made certain changes to its financial reporting methodologies, many of which were preliminarily previewed in the Company’s press release furnished in its Current Report on Form 8-K dated February 13, 2019. The Company moved its indirect sales channel, which primarily targets small to medium-sized enterprises, from the Wholesale and Indirect business unit to the Small and Medium business unit. The Company also moved State and Local Government customers from the Small and Medium business unit to the Enterprise business unit. In addition, the Company moved Regulatory revenue to the Consumer segment.
Commencing in the first quarter of 2019, the Company intends to prospectively report the results of its four former business units – International and Global Accounts Management, Enterprise, Small and Medium Business, and Wholesale – as separate reporting segments, in addition to the existing Consumer segment.
To enable investors to more readily compare the information to be presented in the Company’s first quarter earnings, scheduled to be released on May 8, 2019, with prior periods, the Company has furnished herewith as Exhibit 99.1 unaudited supplemental financial information that recasts its historical operating revenue to reflect the above-described changes for each of the four quarters comprising the year ended December 31, 2018.
The information in this Current Report on Form 8-K, including Exhibit 99.1 attached hereto, is being furnished and shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that Section, nor shall it be deemed subject to the requirements of amended Item 10 of Regulation S-K, nor shall it be deemed incorporated by reference into any filing of CenturyLink, Inc. under the Securities Act of 1933, as amended, or the Exchange Act, whether made before or after the date hereof, regardless of any general incorporation language in such filing. The furnishing of this information hereby shall not be deemed an admission of the materiality of any such information.
Forward-Looking Statements
Except for historical and factual information, the matters set forth in this Current Report on Form8-K identified by words such as “will,” “should,” “expects,” “anticipates,” “believes,” “plans,” “intends,” and similar expressions are forward-looking statements as defined by the federal securities laws, and are subject to the “safe harbor” protections thereunder. These forward-looking statements are not guarantees of future results and are based on current expectations only, and are subject to various uncertainties. Actual events and results may differ materially from those anticipated by us in those statements. We may change our intentions or plans discussed in our forward-looking statements without notice at any time and for any reason.
| Item 9.01 | Financial Statements and Exhibits. |
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