Acquisitions (Tables)

3 Months Ended

Mar. 31, 2012

Acquisitions

Combined proforma financial information results of CenturyLink related to Qwest and Savvis acquisitions

	Three Months Ended March 31,
	Actual		Pro Forma
	2012		2011
	(Dollars in millions)
Operating revenues	$	4,610		4,737
Net income		200		275
Basic earnings per common share		.32		.45
Diluted earnings per common share		.32		.44

Qwest

Acquisitions

Preliminary assignment of the aggregate consideration

	April 1, 2011
	(Dollars in millions)
Cash, accounts receivable and other current assets*	$	2,121
Property, plant and equipment		9,529
Identifiable intangible assets:
Customer relationships		7,558
Capitalized software		1,702
Other		189
Other noncurrent assets		390
Current liabilities, excluding current maturities of long-term debt		(2,426	)
Current maturities of long-term debt		(2,422	)
Long-term debt		(10,253	)
Deferred credits and other liabilities		(4,238	)
Goodwill		10,123
Aggregate consideration	$	12,273

*

Includes estimated fair value of $1.194 billion for accounts receivable which had gross contractual value of $1.274 billion on April 1, 2011. The $80 million difference between the gross contractual value and the estimated fair value assigned represents our best estimate as of April 1, 2011 of contractual cash flows that would not be collected.

Savvis

Acquisitions

Preliminary assignment of the aggregate consideration

	July 15, 2011
	(Dollars in millions)
Cash, accounts receivable and other current assets	$	214
Property, plant and equipment		1,377
Identifiable intangible assets:
Customer relationships		739
Other		51
Other noncurrent assets		27
Current liabilities, excluding current maturities of long-term debt		(129	)
Current maturities of long-term debt		(38	)
Long-term debt		(840	)
Deferred credits and other liabilities		(362	)
Goodwill		1,343
Aggregate consideration	$	2,382