Level 3 Parent (LVLT) 8-K Other Events

Exhibit 99.1

Level 3 Parent, LLC

(Unaudited)

The following table reflects the retrospective impacts to consolidated financial statement captions and additional disclosures resulting from the change in accounting policy (including USF fees) and product reclassifications:

$ in millions	1Q19			2Q19			3Q19			4Q19			2019			2018
Operating revenue, as reported	$	2,046			2,014			2,064			2,061			8,185			8,220
Reclassifications:
Change in accounting policy		(96	)		(88	)		(112	)		(116	)		(412	)		(381	)
Product reclassifications		0			0			0			0			0			0
Operating revenue, as adjusted	$	1,950			1,926			1,952			1,945			7,773			7,839
Revenue from contracts with customers, as reported	$	1,996			1,925			1,970			1,401			7,292			7,921
Reclassifications:
Change in accounting policy		(96	)		(88	)		(112	)		(116	)		(412	)		(381	)
Product reclassifications		0			0			0			0			0			0
Revenue from contracts with customers, as adjusted	$	1,900			1,837			1,858			1,285			6,880			7,540
Cost of services and products, as reported	$	967			919			960			953			3,799			3,937
Reclassifications:
Change in accounting policy		(96	)		(88	)		(112	)		(116	)		(412	)		(381	)
Product reclassifications		0			0			0			0			0			0
Cost of services and products, as adjusted	$	871			831			848			837			3,387			3,556
Operating expenses, as reported	$	5,439			1,742			1,755			1,776			10,712			7,252
Reclassifications:
Change in accounting policy		(96	)		(88	)		(112	)		(116	)		(412	)		(381	)
Product reclassifications		0			0			0			0			0			0
Operating expenses, as adjusted	$	5,343			1,654			1,643			1,660			10,300			6,871

The change in accounting policy and product reclassifications had no impact on Consolidated Operating Income (Loss) or Net Income (Loss).

Level 3 Parent, LLC

(Unaudited)

The following table reflects the retrospective impacts to revenue by product and service offering resulting from the change in accounting policy (including USF fees) and product reclassifications:

$ in millions		1Q19			2Q19			3Q19			4Q19			2019			2018
	Reported	$	979			965			972			972			3,888			3,945
IP and Data Services	Change in accounting policy		(57	)		(50	)		(63	)		(64	)		(234	)		(217	)
	Product reclassifications		1			0			1			(1	)		1			0
	Adjusted/New	$	923			915			910			907			3,655			3,728
Transport and Infrastructure	Reported	$	658			655			668			681			2,662			2,701
	Change in accounting policy		(27	)		(25	)		(33	)		(35	)		(120	)		(109	)
	Product reclassifications		(1	)		1			1			1			2			(1	)
	Adjusted/New	$	630			631			636			647			2,544			2,591
Voice and Collaboration	Reported	$	352			355			379			357			1,443			1,464
	Change in accounting policy		(12	)		(13	)		(16	)		(17	)		(58	)		(55	)
	Product reclassifications		0			(1	)		(1	)		2			0			4
	Adjusted/New	$	340			341			362			342			1,385			1,413
Other	Reported	$	2			1			4			5			12			3
	Change in accounting policy		0			0			0			0			0			0
	Product reclassifications		0			0			(1	)		(2	)		(3	)		(3	)
	Adjusted/New	$	2			1			3			3			9			0
Affiliate Services	Reported	$	55			38			41			46			180			107
	Change in accounting policy		0			0			0			0			0			0
	Product reclassifications		0			0			0			0			0			0
	Adjusted/New	$	55			38			41			46			180			107
Total	Reported	$	2,046			2,014			2,064			2,061			8,185			8,220
	Change in accounting policy		(96	)		(88	)		(112	)		(116	)		(412	)		(381	)
	Product reclassifications		0			0			0			0			0			0
	Adjusted/New	$	1,950			1,926			1,952			1,945			7,773			7,839