Frontier Communications Parent (FYBR) 8-K Frontier Communications Reports 2010 Fourth Quarter and Full Year Results

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 Quarters Ended September 30, 2010 and December 31, 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 and December 31, 2010 represent actual information for the third and fourth quarters 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 dividend 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 exclude intere st 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 fourth quarter and year ended December 31, 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 Quarters Ended September 30, 2010 and December 31, 2010
	For the quarter ended:																																	Actual					Actual
		March 31,					June 30,					September 30,					December 31,						March 31,						June 30,					September 30,					December 31,
(Amounts in millions of dollars, except		2009		Var.			2009		Var.			2009		Var.			2009			Var.			2010			Var.			2010		Var.			2010		Var.			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	$	(44	)	$	1,359
	Costs and expenses (1)		809		(5	)		804		(23	)		781		18			799			(22	)		777			18			795		34			829		(63	)		766
	Depreciation and amortization		394		5			399		(32	)		367		(22	)		345			(1	)		344			2			346		(6	)		340		13			353
Total operating expenses			1,203		-			1,203		(55	)		1,148		(4	)		1,144			(23	)		1,121			20			1,141		28			1,169		(50	)		1,119
Operating income			359		(21	)		338		28			366		(56	)		310			25			335			(42	)		293		(59	)		234		6			240
	Investment and other income (loss), net		8		(5	)		3		2			5		(57	)		(52	)(2)		59			7			3			10		(7	)		3		(2	)		1
	Interest expense		158		9			167		1			168		2			170			(5	)		165			1			166		1			167		1			168
Income before income taxes			209		(35	)		174		29			203		(115	)		88			89			177			(40	)		137		(67	)		70		3			73
	Income tax expense		71		(10	)		61		13			74		(39	)		35			50			85	(3)		(38	)		47		(7	)		40		(14	)		26
Net income		$	138	$	(25	)	$	113	$	16		$	129	$	(76	)	$	53		$	39		$	92		$	(2	)	$	90	$	(60	)	$	30	$	17		$	47
Weighted average shares outstanding			988		-			988		1			989		-			989			-			989			-			989		-			989		1			990
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	$	0.02		$	0.05
(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 final 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 Quarters Ended September 30, 2010 and December 31, 2010
	For the quarter ended:																																					Actual						Actual
		March 31,						June 30,						September 30,						December 31,						March 31,						June 30,						September 30,						December 31,
(Amounts in millions)		2009			Var.			2009			Var.			2009			Var.			2009			Var.			2010			Var.			2010			Var.			2010			Var.			2010
Selected Income Statement Data
Revenue
	Local and long distance services	$	795		$	2		$	797		$	(30	)	$	767		$	(7	)	$	760		$	(38	)	$	722		$	(13	)	$	709		$	(20	)	$	689		$	(27	)	$	662
	Data and internet services		463			2			465			(8	)		457			2			459			(1	)		458			5			463			(10	)		453			-			453
	Switched access and subsidy		193			(4	)		189			7			196			(6	)		190			-			190			(16	)		174			(6	)		168			(7	)		161
	Directory services		28			(1	)		27			(1	)		26			-			26			(1	)		25			(1	)		24			3			27			(1	)		26
	Other		83			(20	)		63			5			68			(49	)		19			42			61			3			64			2			66			(9	)		57
Total revenue			1,562			(21	)		1,541			(27	)		1,514			(60	)		1,454			2			1,456			(22	)		1,434			(31	)		1,403			(44	)		1,359
Expenses
	Costs and expenses (1)		809			(5	)		804			(23	)		781			18			799			(22	)		777			18			795			34			829			(63	)		766
	Depreciation and amortization		394			5			399			(32	)		367			(22	)		345			(1	)		344			2			346			(6	)		340			13			353
Total operating expenses			1,203			-			1,203			(55	)		1,148			(4	)		1,144			(23	)		1,121			20			1,141			28			1,169			(50	)		1,119
Operating Income		$	359		$	(21	)	$	338		$	28		$	366		$	(56	)	$	310		$	25		$	335		$	(42	)	$	293		$	(59	)	$	234		$	6		$	240
Other Financial Data
	Adjusted operating income (2)	$	370		$	(24	)	$	346		$	23		$	369		$	9		$	378		$	(25	)	$	353		$	(44	)	$	309		$	22		$	331		$	(62	)	$	269
	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	%		-3.8	%		19.8	%
	Operating cash flow, as adjusted (2)	$	764		$	(19	)	$	745		$	(9	)	$	736		$	(13	)	$	723		$	(26	)	$	697		$	(42	)	$	655		$	16		$	671		$	(49	)	$	622
	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	%		-2.1	%		45.8	%
	Free cash flow (2)	$	370		$	(73	)	$	297		$	13		$	310		$	(10	)	$	300		$	57		$	357		$	(72	)	$	285		$	54		$	339		$	(126	)	$	213
	Dividends (3)	$	186		$	-		$	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	%		32.5	%		87.5	%
(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 final 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 Quarters Ended September 30, 2010 and December 31, 2010
		For the quarter ended:																																					Actual						Actual
			March 31,						June 30,						September 30,						December 31,						March 31,						June 30,						September 30,						December 31,
(Amounts in millions of dollars)			2009			Var.			2009			Var.			2009			Var.			2009			Var.			2010			Var.			2010			Var.			2010			Var.			2010
Other Financial Data
Revenue:
	Residential			714			(6	)		708			(18	)		690			(17	)		673			(18	)		655			(10	)		645			(15	)		630			(23	)		607
	Business			655			(11	)		644			(16	)		628			(37	)		591			20			611			4			615			(10	)		605			(14	)		591
		Total customer revenue		1,369			(17	)		1,352			(34	)		1,318			(54	)		1,264			2			1,266			(6	)		1,260			(25	)		1,235			(37	)		1,198
		% of total revenue		88	%		0	%		88	%		-1	%		87	%		0	%		87	%		0	%		87	%		1	%		88	%		0	%		88	%		0	%		88	%
	Switched Access Revenue			111			-			111			(3	)		108			(3	)		105			(2	)		103			(6	)		97			(9	)		88			(6	)		82
	Federal Subsidies			47			(6	)		41			7			48			(1	)		47			(1	)		46			(11	)		35			8			43			-			43
	State Subsidies			8			(1	)		7			(1	)		6			1			7			-			7			-			7			3			10			1			11
	Surcharges			27			3			30			4			34			(3	)		31			3			34			1			35			(8	)		27			(2	)		25
		Total regulatory revenue		193			(4	)		189			7			196			(6	)		190			-			190			(16	)		174			(6	)		168			(7	)		161
		% of total revenue		12	%		0	%		12	%		1	%		13	%		0	%		13	%		0	%		13	%		-1	%		12	%		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			(44	)		1,359
Capital expenditures:
	Base wireline operations			143			-			143			19			162			12			174			(59	)		115			29			144			(5	)		139			72			211
	Fiber optic			47			7			54			(23	)		31			4			35			(14	)		21			(3	)		18			2			20			(2	)		18
		Subtotal		190			7			197			(4	)		193			16			209			(73	)		136			26			162			(3	)		159			70			229
	Integration			-			3			3			(3	)		-			22			22			8			30			3			33			(17	)		16			3			19
		Total		190			10			200			(7	)		193			38			231			(65	)		166			29			195			(20	)		175			73			248

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 Quarters Ended September 30, 2010 and December 31, 2010
																																							Actual						Actual
		For the quarter ended:	March 31,						June 30,						September 30,						December 31,						March 31,						June 30,						September 30,						December 31,
(Amounts in millions, except operating data)			2009			Var.			2009			Var.			2009			Var.			2009			Var.			2010			Var.			2010			Var.			2010			Var.			2010
Other Financial and Operating Data
Access lines:(1)
	Residential			4,503,376			(130,381	)		4,372,995			(152,049	)		4,220,946			(126,356	)		4,094,590			(111,174	)		3,983,416			(128,275	)		3,855,141			(119,981	)		3,735,160			(99,490	)		3,635,670
	Business			2,315,195			(32,583	)		2,282,612			(32,859	)		2,249,753			(33,694	)		2,216,059			(32,679	)		2,183,380			(29,271	)		2,154,109			(18,357	)		2,135,752			(25,704	)		2,110,048
Total access lines				6,818,571			(162,964	)		6,655,607			(184,908	)		6,470,699			(160,050	)		6,310,649			(143,853	)		6,166,796			(157,546	)		6,009,250			(138,338	)		5,870,912			(125,194	)		5,745,718
Residential customer metrics:
	Customers			4,251,260			(118,666	)		4,132,594			(140,065	)		3,992,529			(116,745	)		3,875,784			(101,966	)		3,773,818			(120,484	)		3,653,334			(115,239	)		3,538,095			(92,902	)		3,445,193
	Revenue		$	714		$	(6	)	$	708		$	(18	)	$	690		$	(17	)	$	673		$	(18	)	$	655		$	(10	)	$	645		$	(15	)	$	630		$	(23	)	$	607
	Average monthly residential revenue per customer (ARPU)		$	55.68		$	0.57		$	56.25		$	0.29		$	56.54		$	0.51		$	57.05		$	0.01		$	57.06		$	0.83		$	57.89		$	0.54		$	58.43		$	(0.49	)	$	57.94
	Customer monthly churn			2.07	%		-			2.07	%		0.17	%		2.24	%		-0.22	%		2.02	%		-0.16	%		1.86	%		0.15	%		2.01	%		-0.13	%		1.88	%		-0.24	%		1.64	%
	Products per residential customer (2)			2.06			0.04			2.10			0.03			2.13			0.03			2.16			0.03			2.19			0.04			2.23			0.03			2.26			0.04			2.30
Business customer metrics:
	Customers		NA						NA						NA						NA						NA						NA							354,233			(10,410	)		343,823
	Revenue		$	655		$	(11	)	$	644		$	(16	)	$	628		$	(37	)	$	591		$	20		$	611		$	4		$	615		$	(10	)	$	605			(14	)	$	591
	Average monthly business revenue per customer (ARPU)		NA						NA						NA						NA						NA						NA						$	565.06			(0.28	)	$	564.78
Other data:
	Employees		NA						NA						NA						NA						NA							14,800			(42	)		14,758			40			14,798
	High-Speed Internet (HSI) subscribers (1)			1,627,867			32,508			1,660,375			14,638			1,675,013			20,236			1,695,249			15,726			1,710,975			(14,399	)		1,696,576			(4,971	)		1,691,605			5,562			1,697,167
	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			15,805			531,446
	Switched access minutes of use (in millions)			6,663			(391	)		6,272			(222	)		6,050			(276	)		5,774			105			5,879			(973	)		4,906			440			5,346			(248	)		5,098
	Average monthly total revenue per access line		$	75.37		$	0.87		$	76.24		$	0.65		$	76.89		$	(1.06	)	$	75.83		$	1.96		$	77.79		$	0.72		$	78.51		$	0.22		$	78.73		$	(0.75	)	$	77.98
	Average monthly customer revenue per access line		$	66.03		$	0.85		$	66.88		$	0.04		$	66.92		$	(0.99	)	$	65.93		$	1.72		$	67.65		$	1.33		$	68.98		$	0.31		$	69.29		$	(0.52	)	$	68.77
(1)	Revised from the previously disclosed amounts to conform access line count and HSI 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 Quarters Ended September 30, 2010 and December 31, 2010
											For the											For the nine				For the
	For the quarter ended:										year ended							For the six		Actual		months ended		Actual		year ended
		March 31,		June 30,		September 30,		December 31,			December 31,			March 31,		June 30,		months ended		September 30,		September 30,		December 31,		December 31,
	(Amounts in millions)	2009		2009		2009		2009			2009			2010		2010		June 30, 2010		2010		2010		2010		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	$	47	$	259
	Add back:
	Depreciation and amortization		394		399		367		345			1,505			344		346		690		340		1,030		353		1,383
	Income tax expense		71		61		74		35			241			85		47		132		40		172		26		198
	Pension costs (non-cash)		8		8		3		67			86			18		15		33		12		45		16		61
	Stock based compensation		2		3		2		2			9			3		2		5		5		10		5		15
	Acquisition and integration costs		-		-		-		-			-			-		-		-		78		78		11		89
	Subtract:
	Cash paid for income taxes  (1)		48		86		67		47			248			44		43		87		5		92		16		108
	Other income, net		5		4		5		(54	)		(40	)		5		10		15		2		17		-		17
	Capital expenditures - Business operations		190		197		193		209			789			136		162		298		159		457		229		686
	Free cash flow	$	370	$	297	$	310	$	300		$	1,277		$	357	$	285	$	642	$	339	$	981	$	213	$	1,194
(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 final 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 Quarters Ended September 30, 2010 and December 31, 2010
														For the															For the nine						For the
														year ended									For the six			Actual			months ended			Actual			year ended
	For the quarter ended:	March 31,			June 30,			September 30,			December 31,			December 31,			March 31,			June 30,			months ended			September 30,			September 30,			December 31,			December 31,
(Amounts in millions)		2009			2009			2009			2009			2009			2010			2010			June 30, 2010			2010			2010			2010			2010
Operating Cash Flow and
Operating Cash Flow Margin
Operating income, pro forma		$	359		$	338		$	366		$	310		$	1,373		$	335		$	293		$	628		$	234		$	862		$	240		$	1,102
Add back:
	Depreciation and amortization		394			399			367			345			1,505			344			346			690			340			1,030			353			1,383
Operating cash flow, pro forma		$	753		$	737		$	733		$	655		$	2,878		$	679		$	639		$	1,318		$	574		$	1,892		$	593		$	2,485
Adjustments:
	Non-cash pension costs		8			8			3			67			86			18			15			33			12			45			16			61
	Severance and early retirement costs		3			-			-			1			4			-			1			1			7			8			2			10
	Acquisition and integration costs		-			-			-			-			-			-			-			-			78			78			11			89
Operating income, pro forma as adjusted		$	370		$	346		$	369		$	378		$	1,463		$	353		$	309		$	662		$	331		$	993		$	269		$	1,262
Operating cash flow, pro forma as adjusted		$	764		$	745		$	736		$	723		$	2,968		$	697		$	655		$	1,352		$	671		$	2,023		$	622		$	2,645
Revenue		$	1,562		$	1,541		$	1,514		$	1,454		$	6,071		$	1,456		$	1,434		$	2,890		$	1,403		$	4,293		$	1,359		$	5,652
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	%		17.6	%		19.5	%
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	%		19.8	%		22.3	%
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	%		43.6	%		44.0	%
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	%		45.8	%		46.8	%
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 final 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 Quarters Ended September 30, 2010 and December 31, 2010
	For the quarter ended:																																					Actual						Actual
		March 31,						June 30,						September 30,						December 31,						March 31,						June 30,						September 30,						December 31,
(Amounts in millions of dollars)		2009			Var.			2009			Var.			2009			Var.			2009			Var.			2010			Var.			2010			Var.			2010			Var.			2010
Revenue:
	Legacy Frontier		538			(6	)		532			(5	)		527			(6	)		521			(1	)		520			(4	)		516			(3	)		513			(12	)		501
	Acquired properties		1,024			(15	)		1,009			(22	)		987			(54	)		933			3			936			(18	)		918			(28	)		890			(32	)		858
	Total revenue		1,562			(21	)		1,541			(27	)		1,514			(60	)		1,454			2			1,456			(22	)		1,434			(31	)		1,403			(44	)		1,359
Cash operating expenses
	Legacy Frontier		250			(6	)		244			(5	)		239			(3	)		236			3			239			(2	)		237			16			253			1			254
	Acquired properties (1)		548			4			552			(13	)		539			(44	)		495			25			520			22			542			(63	)		479			3			482
	Total cash operating expenses		798			(2	)		796			(18	)		778			(47	)		731			28			759			20			779			(47	)		732			4			736
Operating cash flow, pro forma as adjusted
	Legacy Frontier		288			-			288			-			288			(3	)		285			(4	)		281			(2	)		279			(19	)		260			(14	)		246
	%		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	%		-1.7	%		49.1	%
	Acquired properties		476			(19	)		457			(9	)		448			(10	)		438			(22	)		416			(40	)		376			35			411			(35	)		376
	%		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	%		-2.4	%		43.8	%
	Total operating cash flow, pro forma as adjusted		764			(19	)		745			(9	)		736			(13	)		723			(26	)		697			(42	)		655			16			671			(49	)		622
	%		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	%		-2.1	%		45.8	%
Capital expenditures (excluding integration):
	Legacy Frontier		55			(2	)		53			1			54			15			69			(29	)		40			13			53			2			55			24			79
	% of revenue		10	%		0	%		10	%		0	%		10	%		3	%		13	%		-5	%		8	%		2	%		10	%		1	%		11	%		5	%		16	%
	Acquired properties		135			9			144			(5	)		139			1			140			(44	)		96			13			109			(5	)		104			46			150
	% of revenue		13	%		1	%		14	%		0	%		14	%		1	%		15	%		-5	%		10	%		2	%		12	%		0	%		12	%		5	%		17	%
	Total capital expenditures		190			7			197			(4	)		193			16			209			(73	)		136			26			162			(3	)		159			70			229
	% of revenue		12	%		1	%		13	%		0	%		13	%		1	%		14	%		-5	%		9	%		2	%		11	%		0	%		11	%		6	%		17	%
(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 Quarters Ended September 30, 2010 and December 31, 2010
	For the quarter ended:																															Actual					Actual
		March 31,					June 30,					September 30,					December 31,					March 31,					June 30,					September 30,					December 31,
(Amounts in millions of dollars)		2009		Var.			2009		Var.			2009		Var.			2009		Var.			2010		Var.			2010		Var.			2010		Var.			2010
Revenue:
Residential revenue:
	Legacy Frontier		231		(3	)		228		(4	)		224		(6	)		218		2			220		1			221		(2	)		219		(5	)		214
	Acquired properties		483		(3	)		480		(14	)		466		(11	)		455		(20	)		435		(11	)		424		(13	)		411		(18	)		393
	Total residential revenue		714		(6	)		708		(18	)		690		(17	)		673		(18	)		655		(10	)		645		(15	)		630		(23	)		607
Business revenue:
	Legacy Frontier		217		-			217		(5	)		212		-			212		(1	)		211		4			215		(2	)		213		(4	)		209
	Acquired properties		438		(11	)		427		(11	)		416		(37	)		379		21			400		-			400		(8	)		392		(10	)		382
	Total business revenue		655		(11	)		644		(16	)		628		(37	)		591		20			611		4			615		(10	)		605		(14	)		591
Regulatory revenue:
	Switched access revenue
	Legacy Frontier		62		-			62		(2	)		60		1			61		(1	)		60		(3	)		57		(6	)		51		(3	)		48
	Acquired properties		49		-			49		(1	)		48		(4	)		44		(1	)		43		(3	)		40		(3	)		37		(3	)		34
	Total switched access revenue		111		-			111		(3	)		108		(3	)		105		(2	)		103		(6	)		97		(9	)		88		(6	)		82
	Federal subsidy revenue
	Legacy Frontier		18		(4	)		14		5			19		-			19		(2	)		17		(7	)		10		8			18		-			18
	Acquired properties		29		(2	)		27		2			29		(1	)		28		1			29		(4	)		25		-			25		-			25
	Total Federal USF revenue		47		(6	)		41		7			48		(1	)		47		(1	)		46		(11	)		35		8			43		-			43
	State subsidy revenue
	Legacy Frontier		2		-			2		-			2		-			2		-			2		-			2		-			2		-			2
	Acquired properties		6		(1	)		5		(1	)		4		1			5		-			5		-			5		3			8		1			9
	Total State USF revenue		8		(1	)		7		(1	)		6		1			7		-			7		-			7		3			10		1			11
	Surcharges revenue
	Legacy Frontier		8		1			9		1			10		(1	)		9		1			10		1			11		(1	)		10		(1	)		9
	Acquired properties		19		2			21		3			24		(2	)		22		2			24		-			24		(7	)		17		(1	)		16
	Total surcharges revenue		27		3			30		4			34		(3	)		31		3			34		1			35		(8	)		27		(2	)		25
	Total regulatory revenue		193		(4	)		189		7			196		(6	)		190		-			190		(16	)		174		(6	)		168		(7	)		161
Total revenue:
	Legacy Frontier		538		(6	)		532		(5	)		527		(6	)		521		(1	)		520		(4	)		516		(3	)		513		(12	)		501
	Acquired properties		1,024		(15	)		1,009		(22	)		987		(54	)		933		3			936		(18	)		918		(28	)		890		(32	)		858
	Total revenue		1,562		(21	)		1,541		(27	)		1,514		(60	)		1,454		2			1,456		(22	)		1,434		(31	)		1,403		(44	)		1,359

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 Quarters Ended September 30, 2010 and December 31, 2010
	For the quarter ended:																																Actual					Actual
		March 31,					June 30,					September 30,						December 31,					March 31,					June 30,					September 30,					December 31,
(Amounts in millions of dollars)		2009		Var.			2009		Var.			2009			Var.			2009		Var.			2010		Var.			2010		Var.			2010		Var.			2010
Operating expenses:
	Wages and benefits
	Legacy Frontier		93		(7	)		86		7			93			(4	)		89		6			95		(8	)		87		16			103		9			112
	Acquired properties	NA					NA					NA						NA					NA					NA						186		16			202
	Total wages	NA					NA					NA						NA					NA					NA						289		25			314
	Non-wages and benefits
	Legacy Frontier		168		(3	)		165		(10	)		155			3			158		(6	)		152		3			155		73			228		(69	)		159
	Acquired properties	NA					NA					NA						NA					NA					NA						312		(19	)		293
	Total non-wages	NA					NA					NA						NA					NA					NA						540		(88	)		452
Cash operating expenses
	Legacy Frontier		250		(6	)		244		(5	)		239			(3	)		236		3			239		(2	)		237		16			253		1			254
	Acquired properties (1)		548		4			552		(13	)		539			(44	)		495		25			520		22			542		(63	)		479		3			482
	Total cash operating expenses		798		(2	)		796		(18	)		778			(47	)		731		28			759		20			779		(47	)		732		4			736
Non-cash operating expenses
	Legacy Frontier		11		(4	)		7		2			9			2			11		(3	)		8		(3	)		5		73			78		(61	)		17
	Acquired properties		-		1			1		(7	)		(6	)		63			57		(47	)		10		1			11		8			19		(6	)		13
	Total non-cash operating expenses		11		(3	)		8		(5	)		3			65			68		(50	)		18		(2	)		16		81			97		(67	)		30
Depreciation and Amortization
	Legacy Frontier		138		(5	)		133		(30	)		103			-			103		(2	)		101		(1	)		100		(2	)		98		2			100
	Acquired properties		256		10			266		(2	)		264			(22	)		242		1			243		3			246		(4	)		242		11			253
	Total depreciation and amortization		394		5			399		(32	)		367			(22	)		345		(1	)		344		2			346		(6	)		340		13			353
	Total operating expenses
	Legacy Frontier		399		(15	)		384		(33	)		351			(1	)		350		(2	)		348		(6	)		342		87			429		(58	)		371
	Acquired properties		804		15			819		(22	)		797			(3	)		794		(21	)		773		26			799		(59	)		740		8			748
	Total operating expenses		1,203		-			1,203		(55	)		1,148			(4	)		1,144		(23	)		1,121		20			1,141		28			1,169		(50	)		1,119
(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 Quarters Ended September 30, 2010 and December 31, 2010
	For the quarter ended:																																						Actual						Actual
			March 31,						June 30,						September 30,						December 31,						March 31,						June 30,						September 30,						December 31,
(Amounts in millions of dollars)			2009			Var.			2009			Var.			2009			Var.			2009			Var.			2010			Var.			2010			Var.			2010			Var.			2010
Capital expenditures:
	Base wireline operations
		Legacy Frontier		55			(2	)		53			1			54			15			69			(29	)		40			13			53			2			55			24			79
		% of revenue		10	%		0	%		10	%		0	%		10	%		3	%		13	%		-5	%		8	%		2	%		10	%		1	%		11	%		5	%		16	%
		Acquired properties		88			2			90			18			108			(3	)		105			(30	)		75			16			91			(7	)		84			48			132
		% of revenue		9	%		0	%		9	%		2	%		11	%		0	%		11	%		-3	%		8	%		2	%		10	%		-1	%		9	%		6	%		15	%
		Total capital expenditures		143			-			143			19			162			12			174			(59	)		115			29			144			(5	)		139			72			211
		% of revenue		9	%		0	%		9	%		2	%		11	%		1	%		12	%		-4	%		8	%		2	%		10	%		0	%		10	%		6	%		16	%
	Fiber optic			47			7			54			(23	)		31			4			35			(14	)		21			(3	)		18			2			20			(2	)		18
		% of revenue		3	%		1	%		4	%		-2	%		2	%		0	%		2	%		-1	%		1	%		0	%		1	%		0	%		1	%		0	%		1	%
	Capital Expenditures
		(excluding integration):
		Legacy Frontier		55			(2	)		53			1			54			15			69			(29	)		40			13			53			2			55			24			79
		% of revenue		10	%		0	%		10	%		0	%		10	%		3	%		13	%		-5	%		8	%		2	%		10	%		1	%		11	%		5	%		16	%
		Acquired properties		135			9			144			(5	)		139			1			140			(44	)		96			13			109			(5	)		104			46			150
		% of revenue		13	%		1	%		14	%		0	%		14	%		1	%		15	%		-5	%		10	%		2	%		12	%		0	%		12	%		5	%		17	%
		Total capital expenditures		190			7			197			(4	)		193			16			209			(73	)		136			26			162			(3	)		159			70			229
		% of revenue		12	%		1	%		13	%		0	%		13	%		1	%		14	%		-5	%		9	%		2	%		11	%		0	%		11	%		6	%		17	%

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 Quarters Ended September 30, 2010 and December 31, 2010
		For the quarter ended:																																					Actual						Actual
			March 31,						June 30,						September 30,						December 31,						March 31,						June 30,						September 30,						December 31,
(Amounts in millions, except operating data)			2009			Var.			2009			Var.			2009			Var.			2009			Var.			2010			Var.			2010			Var.			2010			Var.			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			(22,058	)		1,163,761
		Acquired properties (2)		2,927,891			(99,541	)		2,828,350			(112,887	)		2,715,463			(94,187	)		2,621,276			(77,884	)		2,543,392			(96,657	)		2,446,735			(94,459	)		2,352,276			(70,844	)		2,281,432
		Total residential customers		4,251,260			(118,666	)		4,132,594			(140,065	)		3,992,529			(116,745	)		3,875,784			(101,966	)		3,773,818			(120,484	)		3,653,334			(115,239	)		3,538,095			(92,902	)		3,445,193
	Revenue -
		Legacy Frontier	$	231		$	(3	)	$	228		$	(4	)	$	224		$	(6	)	$	218		$	2		$	220		$	1		$	221		$	(2	)	$	219		$	(5	)	$	214
		Acquired properties		483			(3	)		480			(14	)		466			(11	)		455			(20	)		435			(11	)		424			(13	)		411			(18	)		393
		Total residential revenue	$	714		$	(6	)	$	708		$	(18	)	$	690		$	(17	)	$	673		$	(18	)	$	655		$	(10	)	$	645		$	(15	)	$	630		$	(23	)	$	607
	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		$	(0.29	)	$	60.74
		Acquired properties  (2)	$	54.04		$	1.53		$	55.57		$	0.43		$	56.00		$	0.83		$	56.83		$	(0.76	)	$	56.07		$	0.57		$	56.64		$	0.49		$	57.13		$	(0.61	)	$	56.52
		Total residential ARPU	$	55.68		$	0.57		$	56.25		$	0.29		$	56.54		$	0.51		$	57.05		$	0.01		$	57.06		$	0.83		$	57.89		$	0.54		$	58.43		$	(0.49	)	$	57.94
	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	%		0.8	%		58.4	%
	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	%		-0.03	%		1.36	%
		Acquired properties  (2)		2.32	%		0.05	%		2.37	%		0.18	%		2.55	%		-0.24	%		2.31	%		-0.21	%		2.10	%		0.21	%		2.31	%		-0.18	%		2.13	%		-0.35	%		1.78	%
		Total residential customer monthly churn		2.07	%		-			2.07	%		0.17	%		2.24	%		-0.22	%		2.02	%		-0.16	%		1.86	%		0.15	%		2.01	%		-0.13	%		1.88	%		-0.24	%		1.64	%
	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			0.02			2.60
		Acquired properties (2)		1.90			0.03			1.93			0.03			1.96			0.03			1.99			0.02			2.01			0.05			2.06			0.04			2.10			0.05			2.15
		Total products per residential customer		2.06			0.04			2.10			0.03			2.13			0.03			2.16			0.03			2.19			0.04			2.23			0.03			2.26			0.04			2.30
(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 Quarters Ended September 30, 2010 and December 31, 2010
	For the quarter ended:																															Actual						Actual
		March 31,					June 30,					September 30,					December 31,						March 31,				June 30,					September 30,						December 31,
(Amounts in millions,		2009		Var.			2009		Var.			2009		Var.			2009			Var.			2010		Var.		2010		Var.			2010			Var.			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			(1,973	)		135,483
	Acquired properties (1)	NA					NA					NA					NA						NA				NA						222,906			(8,550	)		214,356
	Total business customers	NA					NA					NA					NA						NA				NA						354,233	(2)		(10,410	)		343,823	(2)
	Revenue -
	Legacy Frontier	$	217	$	-		$	217	$	(5	)	$	212	$	-		$	212		$	(1	)	$	211	$	4	$	215	$	(2	)	$	213		$	(4	)	$	209
	Acquired properties		438		(11	)		427		(11	)		416		(37	)		379			21			400		-		400		(8	)		392			(10	)		382
	Total business revenue	$	655	$	(11	)	$	644	$	(16	)	$	628	$	(37	)	$	591		$	20		$	611	$	4	$	615	$	(10	)	$	605		$	(14	)	$	591
	ARPU -
	Legacy Frontier	$	478.56	$	9.27		$	487.83	$	(4.56	)	$	483.27	$	8.95		$	492.22		$	11.19		$	503.41	$	14.30	$	517.71	$	(4.27	)	$	513.41		$	(2.45	)	$	510.96
	Acquired properties (1)	NA					NA					NA					NA						NA				NA					$	581.05		$	1.65		$	582.70
	Total business ARPU	NA					NA					NA					NA						NA				NA					$	565.06		$	(0.28	)	$	564.78
(1)	Business customer metrics for the acquired properties is not available for prior periods.
(2)	Excludes master customer accounts of 6,129 and 6,016 that overlap Legacy Frontier and Acquired properties as of September 30, 2010 and December 31, 2010, respectively.
																			��

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 Quarters Ended September 30, 2010 and December 31, 2010
	For the quarter ended:																															Actual					Actual
		March 31,					June 30,					September 30,					December 31,					March 31,					June 30,					September 30,					December 31,
		2009		Var.			2009		Var.			2009		Var.			2009		Var.			2010		Var.			2010		Var.			2010		Var.			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		(24,778	)		1,248,394
	Acquired properties		3,076,227		(108,490	)		2,967,737		(121,613	)		2,846,124		(101,044	)		2,745,080		(84,329	)		2,660,751		(102,081	)		2,558,670		(96,682	)		2,461,988		(74,712	)		2,387,276
	Total residential access lines		4,503,376		(130,381	)		4,372,995		(152,049	)		4,220,946		(126,356	)		4,094,590		(111,174	)		3,983,416		(128,275	)		3,855,141		(119,981	)		3,735,160		(99,490	)		3,635,670
	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		(8,957	)		741,080
	Acquired properties		1,525,541		(26,798	)		1,498,743		(25,876	)		1,472,867		(24,810	)		1,448,057		(24,824	)		1,423,233		(24,672	)		1,398,561		(12,846	)		1,385,715		(16,747	)		1,368,968
	Total business access lines		2,315,195		(32,583	)		2,282,612		(32,859	)		2,249,753		(33,694	)		2,216,059		(32,679	)		2,183,380		(29,271	)		2,154,109		(18,357	)		2,135,752		(25,704	)		2,110,048
	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		(33,735	)		1,989,474
	Acquired properties		4,601,768		(135,288	)		4,466,480		(147,489	)		4,318,991		(125,854	)		4,193,137		(109,153	)		4,083,984		(126,753	)		3,957,231		(109,528	)		3,847,703		(91,459	)		3,756,244
	Total access lines		6,818,571		(162,964	)		6,655,607		(184,908	)		6,470,699		(160,050	)		6,310,649		(143,853	)		6,166,796		(157,546	)		6,009,250		(138,338	)		5,870,912		(125,194	)		5,745,718

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 Quarters Ended September 30, 2010 and December 31, 2010
	For the quarter ended:																					Actual			Actual
		March 31,			June 30,			September 30,			December 31,			March 31,				June 30,				September 30,			December 31,
		2009	Var.		2009	Var.		2009	Var.		2009	Var.		2010	Var.			2010	Var.			2010	Var.		2010
HSI subscribers (DSL and Fiber optic)
	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		1,435	652,166
	Acquired properties (1)	1,027,820		18,745	1,046,565		7,117	1,053,682		5,620	1,059,302		7,613	1,066,915		(17,826	)	1,049,089		(8,215	)	1,040,874		4,127	1,045,001
	Total HSI subscribers	1,627,867		32,508	1,660,375		14,638	1,675,013		20,236	1,695,249		15,726	1,710,975		(14,399	)	1,696,576		(4,971	)	1,691,605		5,562	1,697,167
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		3,940	185,545
	Acquired properties	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		8,068	221,944
	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		12,008	407,489
	Fiber optic  - acquired properties	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		3,797	123,957
	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		15,805	531,446
(1)	Revised from the previously disclosed amount to conform HSI 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 Quarters Ended September 30, 2010 and December 31, 2010
	For the quarter ended:																																									Actual							Actual
		March 31,						June 30,							September 30,							December 31,						March 31,							June 30,							September 30,							December 31,
		2009			Var.			2009			Var.				2009			Var.				2009			Var.			2010			Var.				2010			Var.				2010			Var.				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		$	(0.69	)		$	83.20
	Acquired properties		$	75.28		$	1.29		$	76.57		$	0.73			$	77.30		$	(2.15	)		$	75.15		$	1.25		$	76.40		$	(0.29	)		$	76.11		$	(0.08	)		$	76.03		$	(0.81	)		$	75.22
	Total average monthly total revenue per access line		$	75.37		$	0.87		$	76.24		$	0.65			$	76.89		$	(1.06	)		$	75.83		$	1.96		$	77.79		$	0.72			$	78.51		$	0.22			$	78.73		$	(0.75	)		$	77.98
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		$	(0.28	)		$	70.32
	Acquired properties		$	65.74		$	0.87		$	66.61		$	0.32			$	66.93		$	(1.61	)		$	65.32		$	1.93		$	67.25		$	1.06			$	68.31		$	0.29			$	68.60		$	(0.65	)		$	67.95
	Total average monthly customer revenue (1) per
	access line		$	66.03		$	0.85		$	66.88		$	0.04			$	66.92		$	(0.99	)		$	65.93		$	1.72		$	67.65		$	1.33			$	68.98		$	0.31			$	69.29		$	(0.52	)		$	68.77
(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			As of
	June 30, 2010			September 30, 2010			December 31, 2010
High-speed availability (% of households)
Legacy Frontier		92	%		92	%		91	%
Acquired properties		64	%		68	%		70	%
Homes passed with fiber ready video
Acquired properties		567,634			578,761			582,095