Lumen Technologies Reports Exit/Disposal Costs
Ticker: LUMN · Form: 8-K · Filed: Apr 23, 2024 · CIK: 18926
Sentiment: neutral
Topics: restructuring, divestiture, operations
Related Tickers: LUMN
TL;DR
LUMN is shedding assets, expect more restructuring news.
AI Summary
Lumen Technologies, Inc. (LUMN) filed an 8-K on April 23, 2024, to report costs associated with exit or disposal activities. The filing details the company's ongoing efforts to streamline operations and potentially divest certain assets, though specific financial figures for these costs were not disclosed in this particular filing.
Why It Matters
This filing indicates Lumen is continuing its strategic review and potential restructuring, which could impact its future operational footprint and financial performance.
Risk Assessment
Risk Level: medium — The filing suggests ongoing strategic changes and potential divestitures, which carry inherent risks related to execution and financial impact.
Key Players & Entities
- Lumen Technologies, Inc. (company) — Filer
- Level 3 Parent, LLC (company) — Related Entity
- CENTURYLINK, INC (company) — Former Company Name
- CENTURYTEL INC (company) — Former Company Name
- CENTURY TELEPHONE ENTERPRISES INC (company) — Former Company Name
- LEVEL 3 COMMUNICATIONS INC (company) — Former Company Name
FAQ
What specific activities are associated with the exit or disposal costs reported by Lumen Technologies?
The filing indicates costs associated with exit or disposal activities, but does not specify the exact nature of these activities in this document.
When was this 8-K filing submitted to the SEC?
The 8-K filing was submitted on April 23, 2024.
What is Lumen Technologies' primary business sector?
Lumen Technologies operates in the Telephone Communications sector.
Has Lumen Technologies undergone previous name changes?
Yes, Lumen Technologies was formerly known as CENTURYLINK, INC, CENTURYTEL INC, and CENTURY TELEPHONE ENTERPRISES INC.
What is the Central Index Key (CIK) for Lumen Technologies?
The CIK for Lumen Technologies is 0000018926.
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