Acquisition of Qwest (Tables)

6 Months Ended

Jun. 30, 2011

Acquisition of Qwest

Preliminary assignment of the aggregate consideration

The following is our preliminary assignment of the aggregate consideration based on currently available information (dollars in millions).

		April 1, 2011
Cash, accounts receivable and other current assets		$	2,036
Property, plant and equipment			9,525
Identifiable intangible assets
	Customer relationships		7,625
	Capitalized software		1,702
	Other		366
Other noncurrent assets			373
Current liabilities, excluding current maturities of long-term debt			(2,424	)
Current maturities of long-term debt			(2,422	)
Long-term debt			(10,253	)
Deferred credits and other liabilities			(4,260	)
Goodwill			10,005
Aggregate consideration		$	12,273

Combined proforma results of CenturyLink and Qwest

The following unaudited pro forma financial information presents the combined results of CenturyLink and Qwest for the three months ended June 30, 2010 and the six months ended June 30, 2011 and 2010, as though the acquisition had been consummated as of January 1, 2010.

	Three months ended June 30, 2010		Six months ended June 30,
			2011		2010
	(Dollars in millions except per share amounts)
Operating revenues	$	4,635		8,887		9,335
Net income	$	268		386		428
Basic earnings per common share	$	0.45		0.64		0.73
Diluted earnings per common share	$	0.45		0.64		0.72