Lumen Technologies Reports Exit Costs
Ticker: CTDD · Form: 8-K · Filed: Apr 23, 2024 · CIK: 68622
| Field | Detail |
|---|---|
| Company | Qwest Corp (CTDD) |
| Form Type | 8-K |
| Filed Date | Apr 23, 2024 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 3 min |
| Key Dollar Amounts | $1.00, $90, $100 m |
| Sentiment | neutral |
Sentiment: neutral
Topics: restructuring, disposal, exit-costs
TL;DR
Lumen's subsidiary Level 3 is reporting exit costs, signaling ongoing restructuring.
AI Summary
Lumen Technologies, Inc. (formerly CenturyLink, Inc.) filed an 8-K on April 23, 2024, to report costs associated with exit or disposal activities. This filing pertains to Level 3 Parent, LLC, a subsidiary of Lumen, and its prior operations.
Why It Matters
This filing indicates Lumen is continuing to restructure and potentially divest assets, which could impact its future operational structure and financial performance.
Risk Assessment
Risk Level: medium — Reporting exit costs suggests ongoing business changes and potential financial impacts that warrant investor attention.
Key Players & Entities
- Lumen Technologies, Inc. (company) — Filer
- CenturyLink, Inc. (company) — Former company name for Lumen Technologies
- Level 3 Parent, LLC (company) — Subsidiary reporting exit costs
- Level 3 Communications Inc (company) — Former company name for Level 3 Parent, LLC
FAQ
What specific activities are associated with the exit or disposal costs being reported?
The filing does not specify the exact nature of the exit or disposal activities, but it is related to Level 3 Parent, LLC.
When did Lumen Technologies, Inc. change its name from CenturyLink, Inc.?
Lumen Technologies, Inc. changed its name from CenturyLink, Inc. on November 8, 2010.
What is the primary business of Lumen Technologies, Inc. according to its SIC code?
Lumen Technologies, Inc. is in the 'TELEPHONE COMMUNICATIONS (NO RADIO TELEPHONE)' industry, with SIC code 4813.
What is the filing date of this 8-K report?
This 8-K report was filed on April 23, 2024.
Which subsidiary is directly involved in reporting these exit or disposal costs?
Level 3 Parent, LLC is the subsidiary directly involved in reporting these exit or disposal costs.
Filing Stats: 863 words · 3 min read · ~3 pages · Grade level 12.7 · Accepted 2024-04-23 16:22:08
Key Financial Figures
- $1.00 — umen Technologies, Inc. Common Stock, $1.00 par value per share LUMN New York S
- $90 — ted costs in the range of approximately $90 to $100 million, substantially all of w
- $100 m — ts in the range of approximately $90 to $100 million, substantially all of which we ex
Filing Documents
- d799398d8k.htm (8-K) — 59KB
- g799398g59k55.jpg (GRAPHIC) — 6KB
- 0001193125-24-107066.txt ( ) — 268KB
- lumn-20240419.xsd (EX-101.SCH) — 5KB
- lumn-20240419_cal.xml (EX-101.CAL) — 1KB
- lumn-20240419_def.xml (EX-101.DEF) — 16KB
- lumn-20240419_lab.xml (EX-101.LAB) — 25KB
- lumn-20240419_pre.xml (EX-101.PRE) — 16KB
- d799398d8k_htm.xml (XML) — 13KB
Forward-Looking Statements
Forward-Looking Statements Except for historical and factual information, the matters set forth in this Current Report on Form 8-K identified by words such as "expects," "anticipates," "will," "plans" and similar expressions are forward-looking statements as defined by the federal securities laws, and are subject to the "safe harbor" protections thereunder. These forward-looking statements are not guarantees of future results and are based on current expectations only, and are subject to various uncertainties, including uncertainties regarding the number of employees who will voluntarily depart and the number of employees who will be involuntarily terminated. Actual events and results may differ materially from those anticipated by us in those statements. Factors that could affect actual results include, but are not limited to, the risks referenced from time to time in our filings with the U.S. Securities and Exchange Commission. We may change our intentions or plans discussed in our forward-looking statements without notice at any time and for any reason. 1
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, Lumen Technologies, Inc., Level 3 Parent, LLC, and Qwest Corporation have duly caused this Current Report on Form 8-K to be signed on their behalf by the undersigned officer hereunto duly authorized. LUMEN TECHNOLOGIES, INC. Dated: April 23, 2024 By: /s/ Stacey W. Goff Stacey W. Goff Executive Vice President, General Counsel and Secretary LEVEL 3 PARENT, LLC Dated: April 23, 2024 By: /s/ Stacey W. Goff Stacey W. Goff Executive Vice President, General Counsel and Secretary QWEST CORPORATION Dated: April 23, 202 4 By: /s/ Stacey W. Goff Stacey W. Goff Executive Vice President, General Counsel and Secretary 2