Business Context and Reporting Period
This Form 8-K is a current report filed by CenturyTel, Inc. on September 14, 2009. The filing discloses the unaudited consolidated financial statements of Embarq Corporation, a wholly-owned subsidiary, for the three and six-month periods ended June 30, 2009, and June 30, 2008. Additionally, it includes unaudited pro forma combined condensed financial information for CenturyTel reflecting the acquisition of Embarq, which was effective July 1, 2009.
Key Financial Metrics
The filing text serves as a cover document and does not contain specific numerical values for revenue, profit, cash flow, margins, debt, or liquidity. These metrics are contained within the attached exhibits:
- Exhibit 99.1: Consolidated financial statements of Embarq (Balance Sheets, Statements of Operations, Cash Flows, and Stockholders' Equity).
- Exhibit 99.2: Unaudited pro forma combined condensed financial information for CenturyTel for the year ended December 31, 2008, and the six months ended June 30, 2009.
Note: The filing text does not provide a clear value for any specific financial metric.
Material Changes
The primary material change disclosed is the acquisition of Embarq Corporation by CenturyTel, Inc., effective July 1, 2009. The filing provides pro forma financial data to illustrate the combined entity's financial position as if the acquisition had occurred at the beginning of the reported periods.
Guidance, Outlook, and Risks
The filing text does not contain management commentary, forward-looking guidance, specific risk factors, or details on contingencies. It strictly references the attached financial exhibits for data regarding the acquired business and the pro forma combined entity.
Investor Verification Checklist
- Review Exhibit 99.1 for Embarq's standalone financial performance for the quarters ended June 30, 2009, and 2008.
- Analyze Exhibit 99.2 to understand the pro forma impact of the Embarq acquisition on CenturyTel's revenue, earnings, and debt levels.
- Verify the closing date of the acquisition (July 1, 2009) against the pro forma assumptions used in the combined financial statements.
- Check the "Condensed Notes to Consolidated Financial Statements" in Exhibit 99.1 for details on accounting treatments and significant transactions.