Exhibit 99.1

CenturyLink, Inc.

(Unaudited)

The following table reflects the retrospective impacts to consolidated financial statement captions and additional disclosures resulting from the change in accounting policy (including certain USF fees) and customer and cost assignment changes:

$ in millions	1Q19			2Q19			3Q19			4Q19			2019			2018
Operating revenue, as reported	$	5,647			5,578			5,606			5,570			22,401			23,443
Reclassifications:
Change in accounting policy		(220	)		(203	)		(256	)		(264	)		(943	)		(863	)
Customer and cost assignment changes		0			0			0			0			0			0
Operating revenue, as adjusted	$	5,427			5,375			5,350			5,306			21,458			22,580
Revenue from contracts with customers, as reported	$	5,289			5,222			5,251			4,686			20,448			21,905
Reclassifications:
Change in accounting policy		(220	)		(203	)		(256	)		(264	)		(943	)		(863	)
Customer and cost assignment changes		0			0			0			0			0			0
Revenue from contracts with customers, as adjusted	$	5,069			5,019			4,995			4,422			19,505			21,042
Cost of services and products, as reported	$	2,520			2,446			2,590			2,521			10,077			10,862
Reclassifications:
Change in accounting policy		(220	)		(203	)		(256	)		(264	)		(943	)		(863	)
Customer and cost assignment changes		0			0			0			0			0			0
Cost of services and products, as adjusted	$	2,300			2,243			2,334			2,257			9,134			9,999
Operating expenses, as reported	$	11,146			4,602			4,656			4,723			25,127			22,873
Reclassifications:
Change in accounting policy		(220	)		(203	)		(256	)		(264	)		(943	)		(863	)
Customer and cost assignment changes		0			0			0			0			0			0
Operating expenses, as adjusted	$	10,926			4,399			4,400			4,459			24,184			22,010
Adjusted EBITDA margin, as reported		39.5	%		39.7	%		39.7	%		37.8	%		39.2	%		36.7	%
Adjusted EBITDA margin, as adjusted		41.1	%		41.2	%		41.6	%		39.7	%		40.9	%		38.1	%

The change in accounting policy and customer and cost assignment changes had no impact on Consolidated Operating Income (Loss), Net Income (Loss), Earnings (Loss) per Share, or Adjusted EBITDA.

CenturyLink, Inc.

(Unaudited)

The following table reflects the retrospective impacts to segment revenue resulting from the change in accounting policy (including certain USF fees) and customer assignment changes:

$ in millions		1Q19			2Q19			3Q19			4Q19			2019			2018
By Segment
International and Global Accounts	Reported	$	891			902			899			904			3,596			3,653
	Change in accounting policy		(31	)		(28	)		(35	)		(37	)		(131	)		(121	)
	Customer assignment changes		3			3			2			3			11			11
	Adjusted/New	$	863			877			866			870			3,476			3,543
Enterprise	Reported	$	1,523			1,505			1,550			1,555			6,133			6,133
	Change in accounting policy		(105	)		(99	)		(125	)		(129	)		(458	)		(371	)
	Customer assignment changes		7			3			3			8			21			3
	Adjusted/New	$	1,425			1,409			1,428			1,434			5,696			5,765
Small and Medium Business	Reported	$	755			736			734			731			2,956			3,144
	Change in accounting policy		(44	)		(40	)		(52	)		(53	)		(189	)		(201	)
	Customer assignment changes		(11	)		(8	)		(8	)		(13	)		(40	)		(25	)
	Adjusted/New	$	700			688			674			665			2,727			2,918
Wholesale	Reported	$	1,037			1,018			1,025			994			4,074			4,397
	Change in accounting policy		(11	)		(8	)		(12	)		(13	)		(44	)		(49	)
	Customer assignment changes		4			2			4			2			12			12
	Adjusted/New	$	1,030			1,012			1,017			983			4,042			4,360
Consumer	Reported	$	1,441			1,417			1,398			1,386			5,642			6,116
	Change in accounting policy		(29	)		(28	)		(32	)		(32	)		(121	)		(121	)
	Customer assignment changes		(3	)		0			(1	)		0			(4	)		(1	)
	Adjusted/New	$	1,409			1,389			1,365			1,354			5,517			5,994
Total	Reported	$	5,647			5,578			5,606			5,570			22,401			23,443
	Change in accounting policy		(220	)		(203	)		(256	)		(264	)		(943	)		(863	)
	Customer assignment changes		0			0			0			0			0			(0	)
	Adjusted/New	$	5,427			5,375			5,350			5,306			21,458			22,580

CenturyLink, Inc.

(Unaudited)

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

$ in millions	1Q19			2Q19			3Q19			4Q19			2019			2018
By Segment
International and Global Accounts
IP and Data Services Reported	$	420			420			417			419			1,676			1,728
Change in accounting policy		(12	)		(11	)		(14	)		(14	)		(51	)		(47	)
Customer assignment changes		0			0			1			1			2			1
IP and Data Services Adjusted/New		408			409			404			406			1,627			1,682
Transport and Infrastructure Reported		320			333			331			334			1,318			1,276
Change in accounting policy		(12	)		(11	)		(15	)		(15	)		(53	)		(47	)
Customer assignment changes		1			1			1			0			3			1
Transport and Infrastructure Adjusted/New		309			323			317			319			1,268			1,230
Voice and Collaboration Reported		94			94			96			93			377			387
Change in accounting policy		(7	)		(6	)		(6	)		(8	)		(27	)		(27	)
Customer assignment changes		2			1			(1	)		2			4			5
Voice and Collaboration Adjusted/New		89			89			89			87			354			365
IT and Managed Services Reported		57			55			55			58			225			262
Change in accounting policy		0			0			0			0			0			0
Customer assignment changes		0			1			1			0			2			4
IT and Managed Services Adjusted/New		57			56			56			58			227			266
Total Reported		891			902			899			904			3,596			3,653
Change in accounting policy		(31	)		(28	)		(35	)		(37	)		(131	)		(121	)
Customer assignment changes		3			3			2			3			11			11
Total Adjusted/New	$	863			877			866			870			3,476			3,543

CenturyLink, Inc.

(Unaudited)

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

$ in millions	1Q19			2Q19			3Q19			4Q19			2019			2018
By Segment
Enterprise
IP and Data Services Reported	$	688			681			691			703			2,763			2,673
Change in accounting policy		(52	)		(48	)		(61	)		(62	)		(223	)		(189	)
Customer assignment changes		2			(1	)		1			(4	)		(2	)		1
IP and Data Services Adjusted/New		638			632			631			637			2,538			2,485
Transport and Infrastructure Reported		364			368			405			408			1,545			1,550
Change in accounting policy		(18	)		(17	)		(22	)		(24	)		(81	)		(63	)
Customer assignment changes		1			3			1			10			15			(3	)
Transport and Infrastructure Adjusted/New		347			354			384			394			1,479			1,484
Voice and Collaboration Reported		397			390			395			385			1,567			1,607
Change in accounting policy		(35	)		(34	)		(42	)		(43	)		(154	)		(119	)
Customer assignment changes		4			2			1			3			10			7
Voice and Collaboration Adjusted/New		366			358			354			345			1,423			1,495
IT and Managed Services Reported		74			66			59			59			258			303
Change in accounting policy		0			0			0			0			0			0
Customer assignment changes		0			(1	)		0			(1	)		(2	)		(2	)
IT and Managed Services Adjusted/New		74			65			59			58			256			301
Total Reported		1,523			1,505			1,550			1,555			6,133			6,133
Change in accounting policy		(105	)		(99	)		(125	)		(129	)		(458	)		(371	)
Customer assignment changes		7			3			3			8			21			3
Total Adjusted/New	$	1,425			1,409			1,428			1,434			5,696			5,765

CenturyLink, Inc.

(Unaudited)

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

$ in millions	1Q19			2Q19			3Q19			4Q19			2019			2018
By Segment
Small and Medium Business
IP and Data Services Reported	$	300			290			295			299			1,184			1,178
Change in accounting policy		(21	)		(18	)		(24	)		(24	)		(87	)		(91	)
Customer assignment changes		(3	)		(1	)		(1	)		(1	)		(6	)		(9	)
IP and Data Services Adjusted/New		276			271			270			274			1,091			1,078
Transport and Infrastructure Reported		107			106			106			101			420			471
Change in accounting policy		(6	)		(6	)		(8	)		(8	)		(28	)		(30	)
Customer assignment changes		(6	)		(6	)		(5	)		(10	)		(27	)		(17	)
Transport and Infrastructure Adjusted/New		95			94			93			83			365			424
Voice and Collaboration Reported		336			328			322			320			1,306			1,443
Change in accounting policy		(17	)		(16	)		(20	)		(21	)		(74	)		(80	)
Customer assignment changes		(2	)		0			(2	)		(2	)		(6	)		3
Voice and Collaboration Adjusted/New		317			312			300			297			1,226			1,366
IT and Managed Services Reported		12			12			11			11			46			52
Change in accounting policy		0			0			0			0			0			0
Customer assignment changes		0			(1	)		0			0			(1	)		(2	)
IT and Managed Services Adjusted/New		12			11			11			11			45			50
Total Reported		755			736			734			731			2,956			3,144
Change in accounting policy		(44	)		(40	)		(52	)		(53	)		(189	)		(201	)
Customer assignment changes		(11	)		(8	)		(8	)		(13	)		(40	)		(25	)
Total Adjusted/New	$	700			688			674			665			2,727			2,918

CenturyLink, Inc.

(Unaudited)

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

$ in millions	1Q19			2Q19			3Q19			4Q19			2019			2018
By Segment
Wholesale
IP and Data Services Reported	$	341			339			357			340			1,377			1,382
Change in accounting policy		(5	)		(3	)		(4	)		(5	)		(17	)		(17	)
Customer assignment changes		2			1			0			2			5			4
IP and Data Services Adjusted/New		338			337			353			337			1,365			1,369
Transport and Infrastructure Reported		499			484			467			470			1,920			2,136
Change in accounting policy		(4	)		(3	)		(5	)		(5	)		(17	)		(23	)
Customer assignment changes		0			1			2			1			4			5
Transport and Infrastructure Adjusted/New		495			482			464			466			1,907			2,118
Voice and Collaboration Reported		196			193			200			182			771			872
Change in accounting policy		(2	)		(2	)		(3	)		(3	)		(10	)		(9	)
Customer assignment changes		1			0			1			0			2			2
Voice and Collaboration Adjusted/New		195			191			198			179			763			865
IT and Managed Services Reported		1			2			1			2			6			7
Change in accounting policy		0			0			0			0			0			0
Customer assignment changes		1			0			1			(1	)		1			1
IT and Managed Services Adjusted/New		2			2			2			1			7			8
Total Reported		1,037			1,018			1,025			994			4,074			4,397
Change in accounting policy		(11	)		(8	)		(12	)		(13	)		(44	)		(49	)
Customer assignment changes		4			2			4			2			12			12
Total Adjusted/New	$	1,030			1,012			1,017			983			4,042			4,360

CenturyLink, Inc.

(Unaudited)

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

$ in millions	1Q19			2Q19			3Q19			4Q19			2019			2018
By Segment
Consumer
Broadband Reported	$	722			718			718			718			2,876			2,822
Change in accounting policy		0			0			0			0			0			0
Customer assignment changes		0			0			0			0			0			2
Broadband Adjusted/New		722			718			718			718			2,876			2,824
Voice Reported		489			477			462			453			1,881			2,173
Change in accounting policy		(29	)		(28	)		(32	)		(32	)		(121	)		(121	)
Customer assignment changes		17			18			23			19			77			75
Voice Adjusted/New		477			467			453			440			1,837			2,127
Regulatory Reported		159			158			157			160			634			729
Change in accounting policy		0			0			0			0			0			0
Customer assignment changes		(2	)		(1	)		0			1			(2	)		(2	)
Regulatory Adjusted/New		157			157			157			161			632			727
Other Reported		71			64			61			55			251			392
Change in accounting policy		0			0			0			0			0			0
Customer assignment changes		(18	)		(17	)		(24	)		(20	)		(79	)		(76	)
Other Adjusted/New		53			47			37			35			172			316
Total Reported		1,441			1,417			1,398			1,386			5,642			6,116
Change in accounting policy		(29	)		(28	)		(32	)		(32	)		(121	)		(121	)
Customer assignment changes		(3	)		0			(1	)		0			(4	)		(1	)
Total Adjusted/New	$	1,409			1,389			1,365			1,354			5,517			5,994

CenturyLink, Inc.

(Unaudited)

The following table reflects the retrospective impacts to segment cost of services and products resulting from the change in accounting policy (including certain USF fees) and customer and cost assignment changes:

$ in millions		1Q19			2Q19			3Q19			4Q19			2019			2018
By Segment
International and Global Accounts	Reported	$	259			258			269			258			1,044			1,056
	Change in accounting policy		(31	)		(28	)		(35	)		(37	)		(131	)		(121	)
	Customer and cost assignment changes		3			2			1			1			7			5
	Adjusted/New	$	231			232			235			222			920			940
Enterprise	Reported	$	496			497			544			551			2,088			2,038
	Change in accounting policy		(105	)		(99	)		(125	)		(129	)		(458	)		(371	)
	Customer and cost assignment changes		37			36			32			33			138			177
	Adjusted/New	$	428			434			451			455			1,768			1,844
Small and Medium Business	Reported	$	153			147			155			151			606			614
	Change in accounting policy		(44	)		(40	)		(52	)		(53	)		(189	)		(201	)
	Customer and cost assignment changes		(4	)		(5	)		(4	)		(5	)		(18	)		3
	Adjusted/New	$	105			102			99			93			399			416
Wholesale	Reported	$	141			145			144			137			567			645
	Change in accounting policy		(11	)		(8	)		(12	)		(13	)		(44	)		(49	)
	Customer and cost assignment changes		4			3			2			3			12			(29	)
	Adjusted/New	$	134			140			134			127			535			567
Consumer	Reported	$	87			77			80			69			313			500
	Change in accounting policy		(29	)		(28	)		(32	)		(32	)		(121	)		(121	)
	Customer and cost assignment changes		0			2			2			1			5			(23	)
	Adjusted/New	$	58			51			50			38			197			356
Operations and Other	Reported	$	1,384			1,322			1,398			1,355			5,459			6,009
	Change in accounting policy		0			0			0			0			0			0
	Customer and cost assignment changes		(40	)		(38	)		(33	)		(33	)		(144	)		(133	)
	Adjusted/New	$	1,344			1,284			1,365			1,322			5,315			5,876
Total	Reported	$	2,520			2,446			2,590			2,521			10,077			10,862
	Change in accounting policy		(220	)		(203	)		(256	)		(264	)		(943	)		(863	)
	Customer and cost assignment changes		0			0			0			0			0			0
	Adjusted/New	$	2,300			2,243			2,334			2,257			9,134			9,999

CenturyLink, Inc.

(Unaudited)

The following table reflects the retrospective impacts to segment selling, general and administrative expense resulting from the customer and cost assignment changes:

$ in millions		1Q19			2Q19			3Q19			4Q19			2019			2018
By Segment
International and Global Accounts	Reported	$	68			68			65			65			266			256
	Customer and cost assignment changes		(1	)		(1	)		(1	)		(2	)		(5	)		(7	)
	Adjusted/New	$	67			67			64			63			261			249
Enterprise	Reported	$	149			143			134			129			555			573
	Customer and cost assignment changes		(1	)		(2	)		(2	)		(5	)		(10	)		(6	)
	Adjusted/New	$	148			141			132			124			545			567
Small and Medium Business	Reported	$	132			120			112			116			480			517
	Customer and cost assignment changes		(8	)		(5	)		(4	)		(4	)		(21	)		(27	)
	Adjusted/New	$	124			115			108			112			459			490
Wholesale	Reported	$	20			21			21			18			80			86
	Customer and cost assignment changes		(6	)		(6	)		(6	)		(4	)		(22	)		(24	)
	Adjusted/New	$	14			15			15			14			58			62
Consumer	Reported	$	109			110			102			94			415			511
	Customer and cost assignment changes		35			27			20			24			106			106
	Adjusted/New	$	144			137			122			118			521			617
Operations and Other	Reported	$	454			498			397			570			1,919			2,222
	Customer and cost assignment changes		(19	)		(13	)		(7	)		(9	)		(48	)		(42	)
	Adjusted/New	$	435			485			390			561			1,871			2,180
Total	Reported	$	932			960			831			992			3,715			4,165
	Customer and cost assignment changes		0			0			0			0			0			0
	Adjusted/New	$	932			960			831			992			3,715			4,165

CenturyLink, Inc.

(Unaudited)

The following table reflects the retrospective impacts to segment Adjusted EBITDA resulting from the customer and cost assignment changes:

$ in millions		1Q19			2Q19			3Q19			4Q19			2019			2018
By Segment
International and Global Accounts	Reported	$	564			576			565			581			2,286			2,341
	Customer and cost assignment changes		1			2			2			4			9			12
	Adjusted/New	$	565			578			567			585			2,295			2,353
Enterprise	Reported	$	878			865			872			875			3,490			3,522
	Customer and cost assignment changes		(29	)		(31	)		(27	)		(20	)		(107	)		(168	)
	Adjusted/New	$	849			834			845			855			3,383			3,354
Small and Medium Business	Reported	$	470			469			467			464			1,870			2,013
	Customer and cost assignment changes		1			2			0			(4	)		(1	)		0
	Adjusted/New	$	471			471			467			460			1,869			2,013
Wholesale	Reported	$	876			852			860			839			3,427			3,666
	Customer and cost assignment changes		6			5			8			3			22			66
	Adjusted/New	$	882			857			868			842			3,449			3,732
Consumer	Reported	$	1,245			1,230			1,216			1,223			4,914			5,105
	Customer and cost assignment changes		(38	)		(29	)		(23	)		(25	)		(115	)		(83	)
	Adjusted/New	$	1,207			1,201			1,193			1,198			4,799			5,022
Operations and Other	Reported	($	1,805	)		(1,777	)		(1,757	)		(1,877			(7,216	)		(8,045	)
	Customer and cost assignment changes		59			51			40			42			192			173
	Adjusted/New	($	1,746	)		(1,726	)		(1,717	)		(1,835	)		(7,024	)		(7,872	)
Total	Reported	$	2,228			2,215			2,223			2,105			8,771			8,602
	Customer and cost assignment changes		0			0			0			0			0			0
	Adjusted/New	$	2,228			2,215			2,223			2,105			8,771			8,602