Frontier Communications Parent 8K Frontier Communications Reports 2010 Third Quarter Results | FYBR 8 Nov 10


		Exhibit 99.2
	Frontier Communications Corporation
	Pro Forma Combined Historical Financial and Operating Data
	for the Six Quarters Ended June 30, 2010
	and
	Actual Financial and Operating Data
	for the Quarter Ended September 30, 2010

	The following unaudited schedules are presented in order to provide unaudited pro forma combined historical financial and operating data for Frontier Communications Corporation (Frontier), including financial and operating data for the properties acquired from Verizon Communications Inc. (Verizon) on July 1, 2010 in a merger transaction. The unaudited financial and operating data for the three months ended September 30, 2010 represents actual information for the third quarter of 2010.

	The unaudited pro forma combined statements of operations information, which have been prepared for the three months ended March 31, 2009, June 30, 2009, September 30, 2009, December 31, 2009, March 31, 2010 and June 30, 2010, give effect to the transactions and other events as if they had occurred on January 1, 2009. The pro forma information is not necessarily indicative of what the financial position or results of operations actually would have been had the acquisition been completed at the beginning of each period presented. The pro forma information assumes that the debt of Verizon's Separate Telephone Operations (VSTO or the Acquired Properties) was assumed by Frontier as of January 1, 2009, the Frontier common stock was issued to Verizon shareholders as of January 1, 2009 and the Frontier annual cash d ividend policy was $0.75 per share in 2009 and 2010.

	Frontier is considered the accounting acquirer. The historical quarterly financial information of Frontier and VSTO prior to July 1, 2010 has been adjusted to give effect to events that are directly attributable to the transactions and factually supportable and, in the case of the statements of operations information, that are expected to have a continuing impact. Pro Forma adjustments were made: to adjust the historical pension and other postretirement employee benefit obligations retained by Verizon; to conform the bad debt expense classification of VSTO to Frontier's policy; to remove acquisition, integration and realignment expenditures; to include interest expense on $3.2 billion of notes assumed by Frontier in the acquisition; to include amortization of acquired customer assets, and to exclud e interest charged to VSTO by Verizon.

	Certain figures have been revised from the previously disclosed amounts to conform to Frontier reporting methodologies.

	Note: All amounts in the attached schedules for the third quarter and nine months ended September 30, 2010 have been shaded. Additionally, any amounts that have been restated or changed from a previously disclosed amount have been shaded.

Frontier Communications Corporation
Pro Forma Combined Historical Financial Data
for the Six Quarters Ended June 30, 2010
and
Actual Financial and Operating Data
for the Quarter Ended September 30, 2010


	For the quarter ended:																				Actual
		March 31,	Sequential		June 30,	Sequential		September, 30	Sequential		December 31,		Sequential		March 31,	Sequential		June 30,	Sequential		September 30,
(Amounts in millions of dollars, except		2009	Variance		2009	Variance		2009	Variance		2009		Variance		2010	Variance		2010	Variance		2010
per share amounts)

Income Statement Data
Revenue		$ 1,562	$ (21	)	$ 1,541	$ (27	)	$ 1,514	$ (60	)	$ 1,454		$ 2		$ 1,456	$ (22	)	$ 1,434	$ (31)	)	$ 1,403

	Costs and expenses(1)	809	(5	)	804	(23	)	781	18		799		(22	)	777	18		795	34		829
	Depreciation and amortization	394	5		399	(32	)	367	(22	)	345		(1	)	344	2		346	(6	)	340
Total operating expenses		1,203	-		1,203	(55	)	1,148	(4	)	1,144		(23	)	1,121	20		1,141	28		1,169

Operating income		359	(21	)	338	28		366	(56	)	310		25		335	(42	)	293	(59	)	234
	Investment and other income (loss), net	8	(5	)	3	2		5	(57	)	(52)	(2)	59		7	3		10	(7	)	3
	Interest expense	158	9		167	1		168	2		170		(5	)	165	1		166	1		167
Income before income taxes		209	(35	)	174	29		203	(115	)	88		89		177	(40	)	137	(67	)	70
	Income tax expense	71	(10	)	61	13		74	(39	)	35		50		85	(38	)	47	(7	)	40
Net income		138	(25	)	113	16		129	(76	)	53		39		92	(2	)	90	(60	)	30

Weighted average shares outstanding		988	-		988	1		989	-		989		-		989	-		989	-		989

Basic net income per share attributable to
	common shareholders of Frontier	$ 0.14	$ (0.03	)	$ 0.11	$ 0.02		$ 0.13	$ (0.08	)	$ 0.05		$ 0.04		$ 0.09	$ -		$ 0.09	$ (0.06	)	$ 0.03

(1)	Sequential quarterly changes in Costs and Expenses of the acquired properties are impacted by variations in employee and contractor levels at the acquired properties prior to closing on July 1, 2010, including an increase in employees and contractors in the first six months of 2010.
(2)	Includes premium on debt repurchases of $54 million ($34 million or $0.03 per share after tax).
(3)	Includes tax expense of $21 million related to the impact of health care reform legislation enacted in March 2010.
	Note: Refer to the cover page for explanatory notes which are an integral part of the pro forma combined historical financial data. The unaudited pro forma financial information makes certain assumptions for illustrative purposes and is subject to change based on the results of the third-party valuation of the acquired assets and other factors.

Frontier Communications Corporation
Pro Forma Combined Historical Financial and Operating Data
for the Six Quarters Ended June 30, 2010
and
Actual Financial and Operating Data
for the Quarter Ended September 30, 2010

For the quarter ended:																																						Actual
		March 31,			Sequential			June 30,			Sequential			September 30,			Sequential			December 31,			Sequential			March 31,			Sequential			June 30,			Sequential			September 30,
(Amounts in millions)		2009			Variance			2009			Variance			2009			Variance			2009			Variance			2010			Variance			2010			Variance			2010

Selected Income Statement Data
Revenue
	Local and long distance services	$	795		$	2		$	797		$	(30	)	$	767		$	(7	)	$	760		$	(38	)	$	722		$	(13	)	$	709		$	(16	)	$	693
	Data and internet services		463			2			465			(8	)		457			2			459			(1	)		458			5			463			(10	)		453
	Switched access and subsidy		193			(4	)		189			7			196			(6	)		190			-			190			(16	)		174			(12	)		162
	Directory services		28			(1	)		27			(1	)		26			-			26			(1	)		25			(1	)		24			3			27
	Other		83			(20	)		63			5			68			(49	)		19			42			61			3			64			4			68
Total revenue			1,562			(21	)		1,541			(27	)		1,514			(60	)		1,454			2			1,456			(22	)		1,434			(31	)		1,403

Expenses
	Costs and expenses (1)		809			(5	)		804			(23	)		781			18			799			(22	)		777			18			795			34			829
	Depreciation and amortization		394			5			399			(32	)		367			(22	)		345			(1	)		344			2			346			(6	)		340
Total operating expenses			1,203			-			1,203			(55	)		1,148			(4	)		1,144			(23	)		1,121			20			1,141			28			1,169

Operating Income		$	359		$	(21	)	$	338		$	28		$	366		$	(56	)	$	310		$	25		$	335		$	(42	)	$	293		$	(59	)	$	234

Other Financial Data
	Adjusted operating income (2)	$	370		$	(24	)	$	346		$	23		$	369		$	9		$	378		$	(25	)	$	353		$	(44	)	$	309		$	22		$	331
	Adjusted operating income %		23.7	%		-1.2	%		22.5	%		1.9	%		24.4	%		1.6	%		26.0	%		-1.8	%		24.2	%		-2.7	%		21.5	%		2.1	%		23.6	%
	Operating cash flow, as adjusted (2)	$	764		$	(19	)	$	745		$	(9	)	$	736		$	(13	)	$	723		$	(26	)	$	697		$	(42	)	$	655		$	16		$	671
	Operating cash flow %, as adjusted		48.9	%		-0.6	%		48.3	%		0.3	%		48.6	%		1.1	%		49.7	%		-1.8	%		47.9	%		-2.2	%		45.7	%		2.2	%		47.9	%
	Free cash flow (2)	$	370		$	(73	)	$	297		$	13		$	310		$	(10	)	$	300		$	57		$	357		$	(72	)	$	285		$	54		$	339
	Dividends (3)	$	186		$	-		$	186		$	-		$	186		$	-		$	186		$	-		$	186		$	-		$	186		$	-		$	186
	Dividend payout ratio (3)		50.3	%		12.3	%		62.6	%		-2.6	%		60.0	%		2.0	%		62.0	%		-9.9	%		52.1	%		13.2	%		65.3	%		-10.3	%		55.0	%

(1)	Sequential quarterly changes in Costs and Expenses of the acquired properties are impacted by variations in employee and contractor levels at the acquired properties prior to closing on July 1, 2010, including an increase in employees and contractors in the first six months of 2010.
(2)	A reconciliation to this measure is presented in Schedules 5 and 6.
(3)	Assumes annual cash dividend of $0.75 per common share.

	Note: Refer to the cover page for explanatory notes which are an integral part of the pro forma combined historical financial data. The unaudited pro forma financial information makes certain assumptions for illustrative purposes and is subject to change based on the results of the third-party valuation of the acquired assets and other factors.

Frontier Communications Corporation
Pro Forma Combined Historical Financial and Operating Data
for the Six Quarters Ended June 30, 2010
and
Actual Financial and Operating Data
for the Quarter Ended September 30, 2010


For the quarter ended:																																							Actual
			March 31,			Sequential			June 30,			Sequential			September 30,			Sequential			December 31,			Sequential			March 31,			Sequential			June 30,			Sequential			September 30,
(Amounts in millions of dollars)			2009			Variance			2009			Variance			2009			Variance			2009			Variance			2010			Variance			2010			Variance			2010

Other Financial Data

Revenue:
	Residential			714			(6	)		708			(18	)		690			(17	)		673			(18	)		655			(10	)		645			(15	)		630
	Business			655			(11	)		644			(16	)		628			(37	)		591			20			611			4			615			(4	)		611
		Total customer revenue		1,369			(17	)		1,352			(34	)		1,318			(54	)		1,264			2			1,266			(6	)		1,260			(19	)		1,241
		% of total revenue		88	%		0.0	%		88	%		-1.0	%		87	%		0.0	%		87	%		0	%		87	%		1	%		88	%		0	%		88	%
	Switched Access Revenue			111			-			111			(3	)		108			(3	)		105			(2	)		103			(6	)		97			(15	)		82
	Federal Subsidies			47			(6	)		41			7			48			(1	)		47			(1	)		46			(11	)		35			8			43
	State Subsidies			8			(1	)		7			(1	)		6			1			7			-			7			-			7			3			10
	Surcharges			27			3			30			4			34			(3	)		31			3			34			1			35			(8	)		27
		Total regulatory revenue		193			(4	)		189			7			196			(6	)		190			-			190			(16	)		174			(12	)		162
		% of total revenue		12	%		0.0	%		12	%		1.0	%		13	%		0.0	%		13	%		0			13	%		-1.0	%		12	%		0			12	%
	Total revenue			1,562			(21	)		1,541			(27	)		1,514			(60	)		1,454			2			1,456			(22	)		1,434			(31	)		1,403

Capital expenditures:
	Base wireline operations			143			-			143			19			162			12			174			(59	)		115			29			144			(5	)		139
	FiOS			47			7			54			(23	)		31			4			35			(14	)		21			(3	)		18			2			20
		Subtotal		190			7			197			(4	)		193			16			209			(73	)		136			26			162			(3	)		159
	Integration			-			3			3			(3	)		-			22			22			8			30			3			33			(17	)		16
		Total		190			10			200			(7	)		193			38			231			(65	)		166			29			195			(20	)		175

Frontier Communications Corporation
Pro Forma Combined Historical Financial and Operating Data
for the Six Quarters Ended June 30, 2010
and
Actual Financial and Operating Data
for the Quarter Ended September 30, 2010
																��
																																						Actual
For the quarter ended:		March 31,			Sequential			June 30,			Sequential			September 30,			Sequential			December 31,			Sequential			March 31,			Sequential			June 30,			Sequential			September 30,
(Amounts in millions, except operating data)		2009			Variance			2009			Variance			2009			Variance			2009			Variance			2010			Variance			2010			Variance			2010

Other Financial and Operating Data

Access lines:(1)
	Residential		4,511,705			(130,381	)		4,381,324			(152,049	)		4,229,275			(126,356	)		4,102,919			(111,174	)		3,991,745			(128,275	)		3,863,470			(128,308	)		3,735,162
	Business		2,311,482			(32,583	)		2,278,899			(32,859	)		2,246,040			(33,694	)		2,212,346			(32,679	)		2,179,667			(29,271	)		2,150,396			(10,112	)		2,140,284
Total access lines			6,823,187			(162,964	)		6,660,223			(184,908	)		6,475,315			(160,050	)		6,315,265			(143,853	)		6,171,412			(157,546	)		6,013,866			(138,420	)		5,875,446

Residential customer metrics:
	Customers		4,259,589			(118,666	)		4,140,923			(140,065	)		4,000,858			(115,556	)		3,885,302			(103,155	)		3,782,147			(120,484	)		3,661,663			(123,566	)		3,538,097
	Revenue	$	714		$	(6	)	$	708		$	(18	)	$	690		$	(17	)	$	673		$	(18	)	$	655		$	(10	)	$	645		$	(15	)	$	630
	Average monthly residential revenue per customer (ARPU)	$	55.68		$	0.46		$	56.14		$	0.28		$	56.42		$	0.47		$	56.89		$	0.05		$	56.94		$	0.05		$	57.76		$	0.60		$	58.36
	Customer monthly churn		2.06	%		0.00	%		2.06	%		0.17	%		2.23	%		-0.22	%		2.01	%		-0.15	%		1.86	%		0.14	%		2.00	%		-0.12	%		1.88	%
	Products per residential customer (2)		2.06			0.04			2.10			0.03			2.13			0.03			2.16			0.02			2.18			0.04			2.22			0.04			2.26

Business customer metrics:
	Customers	NA						NA						NA						NA						NA						NA							380,982
	Revenue	$	655		$	(11	)	$	644		$	(16	)	$	628		$	(37	)	$	591		$	20		$	611		$	4		$	615		$	(4	)	$	611
	Average monthly business revenue per customer (ARPU)	NA						NA						NA						NA						NA						NA						$	533.02

Other data:
	Employees	NA						NA						NA						NA						NA							14,800			(42	)		14,758
	High-Speed Internet (HSI) subscribers (1)		1,629,120			32,508			1,661,628			14,638			1,676,266			20,236			1,696,502			15,726			1,712,228			(14,399	)		1,697,829			(4,971	)		1,692,858
	Video subscribers (1)		409,490			38,802			448,292			19,145			467,437			17,962			485,399			11,502			496,901			7,643			504,544			11,097			515,641
	Switched access minutes of use (in millions)		6,663			(391	)		6,272			(222	)		6,050			(276	)		5,774			134			5,908			(452	)		5,456			(110	)		5,346
	Average monthly total revenue per access line	$	75.34		$	0.85		$	76.19		$	0.65		$	76.84		$	(1.06	)	$	75.78		$	1.96		$	77.74		$	0.72		$	78.46		$	0.21		$	78.67
	Average monthly customer revenue per access line	$	66.03		$	0.82		$	66.85		$	0.04		$	66.89		$	(1.01	)	$	65.88		$	1.71		$	67.59		$	1.35		$	68.94		$	0.64		$	69.58

(1)	Revised from the previously disclosed amounts to conform access line count, HSI subscribers and video subscribers to the Frontier reporting methodology.

(2)	Products per residential customer: primary residential voice line, HSI and video products have a value of 1. Long distance, Frontier Peace of Mind, second lines, feature packages and dial-up have a value of 0.5. Acquired properties did not have Frontier Peace of Mind.


Frontier Communications Corporation
Pro Forma Combined Historical Reconciliation of Non-GAAP Financial Measures
for the Six Quarters Ended June 30, 2010
and
Actual Financial and Operating Data
for the Quarter Ended September 30, 2010


	For the quarter ended:										For the year ended							For the six		Actual		For the nine
		March 31,		June 30,		September 30,		December 31,			December 31,			March 31,		June 30,		months ended		September 30,		months ended
	(Amounts in millions)	2009		2009		2009		2009			2009			2010		2010		June 30, 2010		2010		September 30, 2010

	Net Income to Free Cash Flow;
	Net Cash Provided by Operating Activities

	Net income	$	138	$	113	$	129	$	53		$	433		$	92	$	90	$	182	$	30	$	212

	Add back:
	Depreciation and amortization		394		399		367		345			1,505			344		346		690		340		1,030
	Income tax expense		71		61		74		35			241			85		47		132		40		172
	Pension costs (non-cash)		8		8		3		67			86			18		15		33		12		45
	Stock based compensation		2		3		2		2			9			3		2		5		5		10
	Acquisition and integration costs		-		-		-		-			-			-		-		-		78		78

	Subtract:
	Cash paid for income taxes (1)		48		86		67		47			248			44		43		87		5		92
	Other income, net		5		4		5		(54	)		(40	)		5		10		15		2		17
	Capital expenditures - Business operations		190		197		193		209			789			136		162		298		159		457
	Free cash flow	$	370	$	297	$	310	$	300		$	1,277		$	357	$	285	$	642	$	339	$	981


(1)	Cash paid for income taxes in 2009 for the acquired properties was allocated evenly across all four quarters of 2009. Actual amounts for 2010 were not available and have been estimated.

	Note: Refer to the cover page for explanatory notes which are an integral part of the pro forma combined historical financial data. The unaudited pro forma financial information makes certain assumptions for illustrative purposes and is subject to change based on the results of the third-party valuation of the acquired assets and other factors.

Frontier Communications Corporation
Pro Forma Combined Historical Reconciliation of Non-GAAP Financial Measures
for the Six Quarters Ended June 30, 2010
and
Actual Financial and Operating Data
for the Quarter Ended September 30, 2010

														For the year ended									For the six			Actual			For the nine
	For the quarter ended:	March 31,			June 30,			September 30,			December 31,			December 31,			March 31,			June 30,			months ended			September 30,			months ended
(Amounts in millions)		2009			2009			2009			2009			2009			2010			2010			June 30, 2010			2010			September 30, 2010


Operating Cash Flow and
Operating Cash Flow Margin

Operating income, pro forma		$	359		$	338		$	366		$	310		$	1,373		$	335		$	293		$	628		$	234		$	862

Add back:
	Depreciation and amortization		394			399			367			345			1,505			344			346			690			340			1,030
Operating cash flow, pro forma		$	753		$	737		$	733		$	655		$	2,878		$	679		$	639		$	1,318		$	574		$	1,892
Adjustments:
	Non-cash pension costs		8			8			3			67			86			18			15			33			12			45
	Severance and early retirement costs		3			-			-			1			4			-			1			1			7			8
	Acquisition and integration costs		-			-			-			-			-			-			-			-			78			78
Operating income, pro forma as adjusted		$	370		$	346		$	369		$	378		$	1,463		$	353		$	309		$	662		$	331		$	993
Operating cash flow, pro forma as adjusted		$	764		$	745		$	736		$	723		$	2,968		$	697		$	655		$	1,352		$	671		$	2,023

Revenue		$	1,562		$	1,541		$	1,514		$	1,454		$	6,071		$	1,456		$	1,434		$	2,890		$	1,403		$	4,293

Operating income margin
	(Operating income divided by revenue)		23.0	%		21.9	%		24.2	%		21.3	%		22.6	%		23.0	%		20.4	%		21.7	%		16.7	%		20.1	%

Operating income margin, as adjusted			23.7	%		22.5	%		24.4	%		26.0	%		24.1	%		24.2	%		21.5	%		22.9	%		23.6	%		23.1	%

Operating cash flow margin
	(Operating cash flow divided by revenue)		48.2	%		47.8	%		48.4	%		45.0	%		47.4	%		46.6	%		44.6	%		45.6	%		40.9	%		44.1	%

Operating cash flow margin, as adjusted			48.9	%		48.3	%		48.6	%		49.7	%		48.9	%		47.9	%		45.7	%		46.8	%		47.9	%		47.1	%

Note: Refer to the cover page for explanatory notes which are an integral part of the pro forma combined historical financial data. The unaudited pro forma financial information makes certain assumptions for illustrative purposes and is subject to change based on the results of the third-party valuation of the acquired assets and other factors.

Frontier Communications Corporation
Pro Forma Combined Historical Financial Support Data
for the Six Quarters Ended June 30, 2010
and
Actual Financial and Operating Data
for the Quarter Ended September 30, 2010

For the quarter ended:																																						Actual
		March 31,			Sequential			June 30,			Sequential			September 30,			Sequential			December 31,			Sequential			March 31,			Sequential			June 30,			Sequential			September 30,
(Amounts in millions of dollars)		2009			Variance			2009			Variance			2009			Variance			2009			Variance			2010			Variance			2010			Variance			2010

Revenue:
	Legacy Frontier		538			(6	)		532			(5	)		527			(6	)		521			(1	)		520			(4	)		516			(3	)		513
	Acquired properties		1,024			(15	)		1,009			(22	)		987			(54	)		933			3			936			(18	)		918			(28	)		890
	Total revenue		1,562			(21	)		1,541			(27	)		1,514			(60	)		1,454			2			1,456			(22	)		1,434			(31	)		1,403

Cash operating expenses
	Legacy Frontier		250			(6	)		244			(5	)		239			(3	)		236			3			239			(2	)		237			16			253
	Acquired properties (1)		548			4			552			(13	)		539			(44	)		495			25			520			22			542			(63	)		479
	Total cash operating expenses		798			(2	)		796			(18	)		778			(47	)		731			28			759			20			779			(47	)		732

Operating cash flow, pro forma as adjusted
	Legacy Frontier		288			-			288			-			288			(3	)		285			(4	)		281			(2	)		279			(19	)		260
	%		53.5	%		0.7	%		54.2	%		0.4	%		54.6	%		0.1	%		54.7	%		-0.7	%		54.0	%		0.0	%		54.0	%		-3.2	%		50.8	%
	Acquired properties		476			(19	)		457			(9	)		448			(10	)		438			(22	)		416			(40	)		376			35			411
	%		46.5	%		-1.2	%		45.3	%		0.1	%		45.4	%		1.5	%		46.9	%		-2.5	%		44.4	%		-3.4	%		41.0	%		5.2	%		46.2	%
	Total operating cash flow, pro forma as adjusted		764			(19	)		745			(9	)		736			(13	)		723			(26	)		697			(42	)		655			16			671
	%		48.9	%		-0.6	%		48.3	%		0.3	%		48.6	%		1.1	%		49.7	%		-1.8	%		47.9	%		-2.2	%		45.7	%		2.2	%		47.9	%

Capital expenditures (excluding integration):
	Legacy Frontier		55			(2	)		53			1			54			15			69			(29	)		40			13			53			2			55
	% of revenue		10	%		0	%		10	%		0	%		10	%		3	%		13	%		-6	%		8	%		3	%		10	%		1	%		11	%
	Acquired properties		135			9			144			(5	)		139			1			140			(44	)		96			13			109			(5	)		104
	% of revenue		13	%		1	%		14	%		0	%		14	%		1	%		15	%		-5	%		10	%		2	%		12	%		0	%		12	%
	Total capital expenditures		190			7			197			(4	)		193			16			209			(73	)		136			26			162			(3	)		159
	% of revenue		12	%		1	%		13	%		0	%		13	%		2	%		14	%		-5	%		9	%		2	%		11	%		0	%		11	%

(1)	Sequential quarterly changes in Costs and Expenses of the acquired properties are impacted by variations in employee and contractor levels at the acquired properties prior to closing on July 1, 2010, including an increase in employees and contractors in the first six months of 2010.

Frontier Communications Corporation
Pro Forma Combined Historical Revenue Support Data
for the Six Quarters Ended June 30, 2010
and
Actual Financial and Operating Data
for the Quarter Ended September 30, 2010

	For the quarter ended:																															Actual
		March 31,		Sequential			June 30,		Sequential			September 30,		Sequential			December 31,		Sequential			March 31,		Sequential			June 30,		Sequential			September 30,
(Amounts in millions of dollars)		2009		Variance			2009		Variance			2009		Variance			2009		Variance			2010		Variance			2010		Variance			2010
Revenue:
Residential revenue:
	Legacy Frontier		231		(3	)		228		(4	)		224		(6	)		218		2			220		1			221		(2	)		219
	Acquired properties		483		(3	)		480		(14	)		466		(11	)		455		(20	)		435		(11	)		424		(13	)		411
	Total residential revenue		714		(6	)		708		(18	)		690		(17	)		673		(18	)		655		(10	)		645		(15	)		630

Business revenue:
	Legacy Frontier		217		-			217		(5	)		212		-			212		(1	)		211		4			215		(2	)		213
	Acquired properties		438		(11	)		427		(11	)		416		(37	)		379		21			400		-			400		(2	)		398
	Total business revenue		655		(11	)		644		(16	)		628		(37	)		591		20			611		4			615		(4	)		611

Regulatory revenue:
	Switched access revenue
	Legacy Frontier		62		-			62		(2	)		60		1			61		(1	)		60		(3	)		57		(6	)		51
	Acquired properties		49		-			49		(1	)		48		(4	)		44		(1	)		43		(3	)		40		(9	)		31
	Total switched access revenue		111		-			111		(3	)		108		(3	)		105		(2	)		103		(6	)		97		(15	)		82

	Federal subsidy revenue
	Legacy Frontier		18		(4	)		14		5			19		-			19		(2	)		17		(7	)		10		8			18
	Acquired properties		29		(2	)		27		2			29		(1	)		28		1			29		(4	)		25		-			25
	Total Federal USF revenue		47		(6	)		41		7			48		(1	)		47		(1	)		46		(11	)		35		8			43

	State subsidy revenue
	Legacy Frontier		2		-			2		-			2		-			2		-			2		-			2		-			2
	Acquired properties		6		(1	)		5		(1	)		4		1			5		-			5		-			5		3			8
	Total State USF revenue		8		(1	)		7		(1	)		6		1			7		-			7		-			7		3			10

	Surcharges revenue
	Legacy Frontier		8		1			9		1			10		(1	)		9		1			10		1			11		(1	)		10
	Acquired properties		19		2			21		3			24		(2	)		22		2			24		-			24		(7	)		17
	Total surcharges revenue		27		3			30		4			34		(3	)		31		3			34		1			35		(8	)		27

	Total regulatory revenue		193		(4	)		189		7			196		(6	)		190		-			190		(16	)		174		(12	)		162


Total revenue:
	Legacy Frontier		538		(6	)		532		(5	)		527		(6	)		521		(1	)		520		(4	)		516		(3	)		513
	Acquired properties		1,024		(15	)		1,009		(22	)		987		(54	)		933		3			936		(18	)		918		(28	)		890
	Total revenue		1,562		(21	)		1,541		(27	)		1,514		(60	)		1,454		2			1,456		(22	)		1,434		(31	)		1,403

Frontier Communications Corporation
Pro Forma Combined Historical Operating Expenses Support Data
for the Six Quarters Ended June 30, 2010
and
Actual Financial and Operating Data
for the Quarter Ended September 30, 2010

	For the quarter ended:																																Actual
		March 31,		Sequential			June 30,		Sequential			September 30,			Sequential			December 31,		Sequential			March 31,		Sequential			June 30,		Sequential			September 30,
(Amounts in millions of dollars)		2009		Variance			2009		Variance			2009			Variance			2009		Variance			2010		Variance			2010		Variance			2010

Operating expenses:
	Wages and benefits
	Legacy Frontier		93		(7	)		86		7			93			(4	)		89		6			95		(8	)		87		16			103
	Acquired properties	NA					NA					NA						NA					NA					NA						186
	Total wages	NA					NA					NA						NA					NA					NA						289

	Non-wages and benefits
	Legacy Frontier		168		(3	)		165		(10	)		155			3			158		(6	)		152		3			155		73			228
	Acquired properties	NA					NA					NA						NA					NA					NA						312
	Total non-wages	NA					NA					NA						NA					NA					NA						540

Cash operating expenses
	Legacy Frontier		250		(6	)		244		(5	)		239			(3	)		236		3			239		(2	)		237		16			253
	Acquired properties (1)		548		4			552		(13	)		539			(44	)		495		25			520		22			542		(63	)		479
	Total cash operating expenses		798		(2	)		796		(18	)		778			(47	)		731		28			759		20			779		(47	)		732

Non-cash operating expenses
	Legacy Frontier		11		(4	)		7		2			9			2			11		(3	)		8		(3	)		5		73			78
	Acquired properties		-		1			1		(7	)		(6	)		63			57		(47	)		10		1			11		8			19
	Total non-cash operating expenses		11		(3	)		8		(5	)		3			65			68		(50	)		18		(2	)		16		81			97

Depreciation and Amortization
	Legacy Frontier		138		(5	)		133		(30	)		103			-			103		(2	)		101		(1	)		100		(2	)		98
	Acquired properties		256		10			266		(2	)		264			(22	)		242		1			243		3			246		(4	)		242
	Total depreciation and amortization		394		5			399		(32	)		367			(22	)		345		(1	)		344		2			346		(6	)		340

	Total operating expenses
	Legacy Frontier		399		(15	)		384		(33	)		351			(1	)		350		(2	)		348		(6	)		342		87			429
	Acquired properties		804		15			819		(22	)		797			(3	)		794		(21	)		773		26			799		(59	)		740
	Total operating expenses		1,203		-			1,203		(55	)		1,148			(4	)		1,144		(23	)		1,121		20			1,141		28			1,169

(1)	Sequential quarterly changes in Costs and Expenses of the acquired properties are impacted by variations in employee and contractor levels at the acquired properties prior to closing on July 1, 2010, including an increase in employees and contractors in the first six months of 2010.

Frontier Communications Corporation
Pro Forma Combined Historical Capital Expenditures Support Data
for the Six Quarters Ended June 30, 2010
and
Actual Financial and Operating Data
for the Quarter Ended September 30, 2010

For the quarter ended:																																						Actual
		March 31,			Sequential			June 30,			Sequential			September 30,			Sequential			December 31,			Sequential			March 31,			Sequential			June 30,			Sequential			September 30,
(Amounts in millions of dollars)		2009			Variance			2009			Variance			2009			Variance			2009			Variance			2010			Variance			2010			Variance			2010

Capital expenditures:
	Base wireline operations
	Legacy Frontier		55			(2	)		53			1			54			15			69			(29	)		40			13			53			2			55
	% of revenue		10	%		0	%		10	%		0	%		10	%		3	%		13	%		-6	%		8	%		3	%		10	%		1	%		11	%
	Acquired properties		88			2			90			18			108			(3	)		105			(30	)		75			16			91			(7	)		84
	% of revenue		9	%		0	%		9	%		2	%		11	%		0	%		11	%		-3	%		8	%		2	%		10	%		-1	%		9	%
	Total capital expenditures		143			-			143			19			162			12			174			(59	)		115			29			144			(5	)		139
	% of revenue		9	%		0	%		9	%		2	%		11	%		1	%		12	%		-4	%		8	%		2	%		10	%		-10	%

	FiOS		47			7			54			-23			31			4			35			-14			21			-3			18			2			20
	% of revenue		3	%		1	%		4	%		-2	%		2	%		0	%		2	%		-1	%		1	%		0	%		1	%		0	%		1	%

	Capital Expenditures
	(excluding integration):
	Legacy Frontier		55			(2	)		53			1			54			15			69			(29	)		40			13			53			2			55
	% of revenue		10	%		0	%		10	%		0	%		10	%		3	%		13	%		-6	%		8	%		3	%		10	%		1	%		11	%
	Acquired properties		135			9			144			(5	)		139			1			140			(44	)		96			13			109			(5	)		104
	% of revenue		13	%		1	%		14	%		0	%		14	%		1	%		15	%		-5	%		10	%		2	%		12	%		0	%		12	%
	Total capital expenditures		190			7			197			(4	)		193			16			209			(73	)		136			26			162			(3	)		159
	% of revenue		12	%		1	%		13	%		0	%		13	%		1	%		14	%		-5	%		9	%		2	%		11	%		0	%		11	%

Frontier Communications Corporation
Pro Forma Combined Historical Residential Customer Metrics Support Data
for the Six Quarters Ended June 30, 2010
and
Actual Financial and Operating Data
for the Quarter Ended September 30, 2010

		For the quarter ended:																																					Actual
			March 31,			Sequential			June 30,			Sequential			September 30,			Sequential			December 31,			Sequential			March 31,			Sequential			June 30,			Sequential			September 30,
(Amounts in millions, except operating data)			2009			Variance			2009			Variance			2009			Variance			2009			Variance			2010			Variance			2010			Variance			2010

Residential customer metrics:
	Customers-
		Legacy Frontier		1,323,369			(19,125	)		1,304,244			(27,178	)		1,277,066			(22,558	)		1,254,508			(24,082	)		1,230,426			(23,827	)		1,206,599			(20,780	)		1,185,819
		Acquired properties		2,936,220			(99,541	)		2,836,679			(112,887	)		2,723,792			(92,998	)		2,630,794			(79,073	)		2,551,721			(96,657	)		2,455,064			(102,786	)		2,352,278
		Total residential customers		4,259,589			(118,666	)		4,140,923			(140,065	)		4,000,858			(115,556	)		3,885,302			(103,155	)		3,782,147			(120,484	)		3,661,663			(123,566	)		3,538,097

	Revenue -
		Legacy Frontier	$	231		$	(3	)	$	228		$	(4	)	$	224		$	(6	)	$	218		$	2		$	220		$	1		$	221		$	(2	)	$	219
		Acquired properties		483			(3	)		480			(14	)		466			(11	)		455			(20	)		435			(11	)		424			(13	)		411
		Total residential revenue	$	714		$	(6	)	$	708		$	(18	)	$	690		$	(17	)	$	673		$	(18	)	$	655		$	(10	)	$	645		$	(15	)	$	630

	ARPU -
		Legacy Frontier	$	57.53		$	0.21		$	57.74		$	(0.06	)	$	57.68		$	(0.16	)	$	57.52		$	1.61		$	59.13		$	1.31		$	60.44		$	0.59		$	61.03
		Acquired properties	$	54.84		$	0.57		$	55.41		$	0.43		$	55.84		$	0.81		$	56.65		$	(0.76	)	$	55.89		$	0.56		$	56.45		$	0.58		$	57.03
		Total residential ARPU	$	55.68		$	0.46		$	56.14		$	0.28		$	56.42		$	0.47		$	56.89		$	0.05		$	56.94		$	0.82		$	57.76		$	0.60		$	58.36

	Percent of customers on price protection plans -
		Legacy Frontier		48.2	%		1.4	%		49.6	%		1.4	%		51.0	%		2.3	%		53.3	%		2.0	%		55.3	%		1.5	%		56.8	%		0.8	%		57.6	%

	Customer monthly churn -
		Legacy Frontier		1.49	%		-0.09	%		1.40	%		0.15	%		1.55	%		-0.14	%		1.41	%		-0.04	%		1.37	%		0.00	%		1.37	%		0.02	%		1.39	%
		Acquired properties		2.32	%		0.04	%		2.36	%		0.18	%		2.54	%		-0.24	%		2.30	%		-0.21	%		2.09	%		0.22	%		2.31	%		-0.19	%		2.12	%
		Total residential customer monthly churn		2.06	%		-			2.06	%		0.17	%		2.23	%		-0.22	%		2.01	%		-0.15	%		1.86	%		0.14	%		2.00	%		-0.12	%		1.88	%

	Products per residential customer - (1)
		Legacy Frontier		2.44			0.02			2.46			0.02			2.48			0.06			2.54			-			2.54			0.03			2.57			0.01			2.58
		Acquired properties (2)		1.90			0.03			1.93			0.03			1.96			0.02			1.98			0.03			2.01			0.05			2.06			0.04			2.10
		Total products per residential customer (2)		2.06			0.04			2.10			0.03			2.13			0.03			2.16			0.02			2.18			0.04			2.22			0.04			2.26

(1)	Products per residential customer: primary residential voice line, HSI and video products have a value of 1. Long distance, Frontier Peace of Mind, second lines, feature packages and dial-up have a value of 0.5. Acquired properties did not have Frontier Peace of Mind.
(2)	Revised from the previously disclosed amounts to conform to the Frontier reporting methodology.

Frontier Communications Corporation
Pro Forma Combined Historical Business Customer Metrics Support Data
for the Six Quarters Ended June 30, 2010
and
Actual Financial and Operating Data
for the Quarter Ended September 30, 2010


	For the quarter ended:																														Actual
		March 31,		Sequential			June 30,		Sequential			September 30,		Sequential			December 31,		Sequential			March 31,		Sequential		June 30,		Sequential			September 30,
(Amounts in millions,		2009		Variance			2009		Variance			2009		Variance			2009		Variance			2010		Variance		2010		Variance			2010
	except operating data)

Business customer metrics:
	Customers -
	Legacy Frontier		149,901		(3,068	)		146,833		(902	)		145,931		(5,168	)		140,763		(2,540	)		138,223		305		138,528		(1,072	)		137,456
	Acquired properties (1)	NA					NA					NA					NA					NA				NA						250,536
	Total business customers	NA					NA					NA					NA					NA				NA						380,982	(2)

	Revenue -
	Legacy Frontier	$	217	$	-		$	217	$	(5	)	$	212	$	-		$	212	$	(1	)	$	211	$	4	$	215	$	(2	)	$	213
	Acquired properties		438		(11	)		427		(11	)		416		(37	)		379		21			400		-		400		(2	)		398
	Total business revenue	$	655	$	(11	)	$	644	$	(16	)	$	628	$	(37	)	$	591	$	20		$	611	$	4	$	615	$	(4	)	$	611

	ARPU -
	Legacy Frontier	$	478.56	$	9.27		$	487.83	$	(4.57	)	$	483.27	$	8.95		$	492.22	$	11.19		$	503.41	$	14.30	$	517.71	$	(4.30	)	$	513.41
	Acquired properties (1)	NA					NA					NA					NA					NA				NA						528.84
	Total business ARPU	NA					NA					NA					NA					NA				NA					$	533.02

(1)	Business customer metrics for the acquired properties is not available for prior periods.
(2)	Excludes master customer accounts of 7,010 that overlap Legacy Frontier and Acquired properties.

Frontier Communications Corporation
Pro Forma Combined Historical Access Lines Support Data
for the Six Quarters Ended June 30, 2010
and
Actual Financial and Operating Data
for the Quarter Ended September 30, 2010


		For the quarter ended:																																Actual
			March 31,		Sequential			June 30,		Sequential			September 30,		Sequential			December 31,		Sequential			March 31,			Sequential			June 30,		Sequential			September 30,
			2009		Variance			2009		Variance			2009		Variance			2009		Variance			2010			Variance			2010		Variance			2010

Access lines:
	Residential -
		Legacy Frontier		1,427,149		(21,891	)		1,405,258		(30,436	)		1,374,822		(25,312	)		1,349,510		(26,845	)		1,322,665			(26,194	)		1,296,471		(23,299	)		1,273,172
		Acquired properties		3,084,556		(108,490	)		2,976,066		(121,613	)		2,854,453		(101,044	)		2,753,409		(84,329	)		2,669,080			(102,081	)		2,566,999		(105,009	)		2,461,990
		Total residential access lines		4,511,705		(130,381	)		4,381,324		(152,049	)		4,229,275		(126,356	)		4,102,919		(111,174	)		3,991,745			(128,275	)		3,863,470		(128,308	)		3,735,162

	Business -
		Legacy Frontier		789,654		(5,785	)		783,869		(6,983	)		776,886		(8,884	)		768,002		(7,855	)		760,147			(4,599	)		755,548		(5,511	)		750,037
		Acquired properties		1,521,828		(26,798	)		1,495,030		(25,876	)		1,469,154		(24,810	)		1,444,344		(24,824	)		1,419,520			(24,672	)		1,394,848		(4,601	)		1,390,247
		Total business access lines		2,311,482		(32,583	)		2,278,899		(32,859	)		2,246,040		(33,694	)		2,212,346		(32,679	)		2,179,667			(29,271	)		2,150,396		(10,112	)		2,140,284

	Total -
		Legacy Frontier		2,216,803		(27,676	)		2,189,127		(37,419	)		2,151,708		(34,196	)		2,117,512		(34,700	)		2,082,812			(30,793	)		2,052,019		(28,810	)		2,023,209
		Acquired properties		4,606,384		(135,288	)		4,471,096		(147,489	)		4,323,607		(125,854	)		4,197,753		(109,153	)		4,088,600			(126,753	)		3,961,847		(109,610	)		3,852,237
		Total access lines		6,823,187		(162,964	)		6,660,223		(184,908	)		6,475,315		(160,050	)		6,315,265		(143,853	)		6,171,412			(157,546	)		6,013,866		(138,420	)		5,875,446


																									��

Frontier Communications Corporation
Pro Forma Combined Historical Other Operating Support Data
for the Six Quarters Ended June 30, 2010
and
Actual Financial and Operating Data
for the Quarter Ended September 30, 2010


	For the quarter ended:																													Actual
		March 31,		Sequential		June 30,		Sequential		September 30,		Sequential		December 31,		Sequential		March 31,			Sequential			June 30,			Sequential			September 30,
		2009		Variance		2009		Variance		2009		Variance		2009		Variance		2010			Variance			2010			Variance			2010

HSI subscribers (DSL and FiOS)
	Legacy Frontier		600,047		13,763		613,810		7,521		621,331		14,616		635,947		8,113		644,060			3,427			647,487			3,244			650,731
	Acquired properties		1,029,073		18,745		1,047,818		7,117		1,054,935		5,620		1,060,555		7,613		1,068,168	(1)		(17,826	)		1,050,342	(1)		(8,215	)		1,042,127
	Total HSI subscribers		1,629,120		32,508		1,661,628		14,638		1,676,266		20,236		1,696,502		15,726		1,712,228	(1)		(14,399	)		1,697,829	(1)		(4,971	)		1,692,858

Video subscribers
	Direct Broadcast Satellite (DBS)
	Legacy Frontier		146,010		11,343		157,353		7,182		164,535		8,426		172,961		2,814		175,775			3,784			179,559			2,046			181,605
	Acquired properties (1)		176,432		11,716		188,148		7,671		195,819		5,620		201,439		5,392		206,831			916			207,747			6,129			213,876
	Total DBS subscribers		322,442		23,059		345,501		14,853		360,354		14,046		374,400		8,206		382,606			4,700			387,306			8,175			395,481

	FiOS - acquired properties (1)		87,048		15,743		102,791		4,292		107,083		3,916		110,999		3,296		114,295			2,943			117,238			2,922			120,160
	Total video subscribers		409,490		38,802		448,292		19,145		467,437		17,962		485,399		11,502		496,901			7,643			504,544			11,097			515,641

(1)	Revised from the previously disclosed amount to conform HSI subscriber count and video subscriber count to the Frontier reporting methodology.

Frontier Communications Corporation
Pro Forma Combined Historical ARPU Support Data
for the Six Quarters Ended June 30, 2010
and
Actual Financial and Operating Data
for the Quarter Ended September 30, 2010

	For the quarter ended:																												Actual
		March 31,		Sequential		June 30,		Sequential			September 30,		Sequential			December 31,		Sequential		March 31,		Sequential		June 30,		Sequential			September 30,
		2009		Variance		2009		Variance			2009		Variance			2009		Variance		2010		Variance		2010		Variance			2010

Average monthly total revenue per access line
	Legacy Frontier	$	80.21	$	0.31	$	80.52	$	0.39		$	80.91	$	0.44		$	81.35	$	1.16	$	82.51	$	0.71	$	83.22	$	0.67		$	83.89
	Acquired properties	$	73.01	$	1.09	$	74.10	$	0.72		$	74.82	$	(1.83	)	$	72.99	$	2.31	$	75.30	$	0.72	$	76.02	$	(0.08	)	$	75.94
	Total average monthly total revenue per access line	$	75.34	$	0.85	$	76.19	$	0.65		$	76.84	$	(1.06	)	$	75.78	$	1.96	$	77.74	$	0.72	$	78.46	$	0.21		$	78.67

Average monthly customer revenue (1) per access line
	Legacy Frontier	$	66.78	$	0.51	$	67.29	$	(0.39	)	$	66.90	$	0.26		$	67.16	$	1.26	$	68.42	$	1.85	$	70.27	$	0.33		$	70.60
	Acquired properties	$	65.74	$	0.87	$	66.61	$	0.32		$	66.93	$	(1.68	)	$	65.25	$	1.93	$	67.18	$	1.06	$	68.24	$	0.81		$	69.05
	Total average monthly customer revenue (1)
	per access line	$	66.03	$	0.82	$	66.85	$	0.04		$	66.89	$	(1.01	)	$	65.88	$	1.71	$	67.59	$	1.35	$	68.94	$	0.64		$	69.58

(1)	Customer revenue is defined as total revenue less regulatory revenue. Regulatory revenue includes switched access and subsidies.

Frontier Communications Corporation
Pro Forma Combined Historical Miscellaneous Operating Data


		As of	As of
		June 30, 2010	September 30, 2010

High-speed availability (% of households)
	Legacy Frontier	92%	92%
	Acquired properties	64%	68%

Homes passed with fiber ready video
	Acquired properties	567,634	578,761

Frontier Communications Parent (FYBR) 8-KFrontier Communications Reports 2010 Third Quarter Results