Frontier Narrows Q3 Loss, But YTD Red Ink Deepens Amid Fiber Push

TL;DR

**Frontier is burning cash on fiber, and while revenue is up, the widening net loss and declining cash position make it a risky bet for short-term gains.**

AI Summary

Frontier Communications Parent, Inc. reported a net loss of $76 million for the three months ended September 30, 2025, an improvement from the $82 million net loss in the same period of 2024. For the nine months ended September 30, 2025, the net loss widened to $263 million, compared to $204 million in 2024. Revenue increased to $1,550 million for the three months ended September 30, 2025, up from $1,489 million in 2024, and rose to $4,600 million for the nine months, from $4,431 million. Operating expenses increased across the board, with cost of service rising to $1,600 million for the nine months (from $1,576 million) and depreciation and amortization jumping to $1,372 million (from $1,196 million). The company's cash and cash equivalents significantly decreased to $336 million as of September 30, 2025, from $750 million at December 31, 2024, primarily due to substantial capital expenditures of $2,421 million for the nine months ended September 30, 2025, up from $1,991 million in the prior year. Long-term debt increased to $12,008 million from $11,551 million, reflecting net proceeds from borrowings of $480 million. The company maintains it can meet its obligations for at least one year, despite the negative cash flow from investing activities.

Why It Matters

Frontier's continued heavy investment in fiber infrastructure, evidenced by $2.421 billion in capital expenditures, is a critical strategic pivot to remain competitive against larger broadband providers. While this build-out is driving increased revenue, it's also consuming significant cash and contributing to a widening year-to-date net loss, which could concern investors focused on profitability. For employees, this signals a commitment to growth and modernization, potentially creating new roles in fiber deployment and maintenance. Customers could benefit from improved broadband speeds and reliability, but the financial strain could impact future service pricing or expansion. The broader market will watch if Frontier's fiber strategy can translate into sustainable profitability and market share gains in a highly competitive telecom landscape.

Risk Assessment

Risk Level: high — The company reported a net loss of $263 million for the nine months ended September 30, 2025, and a significant decrease in cash and cash equivalents to $336 million from $750 million at December 31, 2024. This is coupled with substantial capital expenditures of $2,421 million, indicating a high cash burn rate for its fiber build-out, which could strain liquidity if not managed effectively.

Analyst Insight

Investors should closely monitor Frontier's cash flow and debt levels, as the aggressive fiber build-out is consuming significant capital. Consider if the long-term growth potential from fiber justifies the current cash burn and widening net losses, and evaluate the company's ability to secure additional financing if needed.

Financial Highlights

debt To Equity

3.60

revenue

$4,600M

operating Margin

5.15%

total Assets

$21,627M

total Debt

$12,018M

net Income

-$263M

eps

-$1.05

gross Margin

N/A

cash Position

$336M

revenue Growth

+3.8%

Revenue Breakdown

Key Numbers

• $1,550M — Revenue (Increased from $1,489M in Q3 2024, showing growth.)
• $76M — Net Loss (Q3) (Improved from $82M net loss in Q3 2024, indicating some operational efficiency.)
• $263M — Net Loss (YTD) (Worsened from $204M net loss in YTD 2024, reflecting higher overall costs.)
• $2,421M — Capital Expenditures (Increased from $1,991M in YTD 2024, highlighting aggressive fiber build-out.)
• $336M — Cash and Cash Equivalents (Decreased significantly from $750M at Dec 31, 2024, indicating high cash burn.)
• $12,008M — Long-term Debt (Increased from $11,551M at Dec 31, 2024, due to new borrowings.)
• 250,338,000 — Shares Outstanding (As of October 24, 2025, showing slight increase from 249,695,000 at Dec 31, 2024.)
• $1,372M — Depreciation and Amortization (Increased from $1,196M in YTD 2024, reflecting growing asset base from fiber investments.)
• $480M — Net Proceeds from Long-term Debt Borrowings (For the nine months ended September 30, 2025, contributing to increased debt.)
• 3.3 million — Broadband Subscribers (As of September 30, 2025, indicating customer base.)

Key Players & Entities

• Frontier Communications Parent, Inc. (company) — registrant
• Citizens Utilities Company (company) — original name of registrant
• SEC (regulator) — Securities and Exchange Commission
• NASDAQ Stock Market LLC (company) — exchange where common stock is registered
• $1,550 million (dollar_amount) — revenue for three months ended September 30, 2025
• $76 million (dollar_amount) — net loss for three months ended September 30, 2025
• $2,421 million (dollar_amount) — capital expenditures for nine months ended September 30, 2025
• $336 million (dollar_amount) — cash and cash equivalents at September 30, 2025
• $12,008 million (dollar_amount) — long-term debt at September 30, 2025
• FCC (regulator) — Federal Communications Commission

FAQ

Risk Factors

• High Debt Load and Interest Expense [high — financial]: The company carries substantial long-term debt of $12,008 million as of September 30, 2025. Interest expense for the nine months was $595 million, significantly impacting profitability and cash flow.
• Significant Capital Expenditures [high — operational]: Capital expenditures for the nine months ended September 30, 2025, were $2,421 million, an increase from $1,991 million in the prior year. This aggressive investment in fiber build-out, while strategic, is a major drain on cash.
• Declining Cash Position [high — financial]: Cash and cash equivalents have fallen to $336 million as of September 30, 2025, from $750 million at December 31, 2024. This sharp decrease indicates a high cash burn rate, primarily due to capital expenditures.
• Increasing Operating Expenses [medium — operational]: Cost of service and depreciation and amortization have increased to $1,600 million and $1,372 million respectively for the nine months ended September 30, 2025. This rise in expenses, particularly depreciation, is linked to the growing asset base from fiber investments.
• Widening Year-to-Date Net Loss [medium — financial]: The net loss for the nine months ended September 30, 2025, widened to $263 million from $204 million in the same period of 2024. This indicates that despite revenue growth, overall costs are outpacing gains.
• Incumbent Service Provider Obligations [low — regulatory]: As an incumbent voice services provider in its service areas, Frontier may face ongoing regulatory scrutiny and obligations related to service quality, universal service, and network maintenance.

Industry Context

The telecommunications industry is characterized by high capital intensity, rapid technological advancements, and intense competition. Companies are investing heavily in network upgrades, particularly fiber optic infrastructure, to meet growing demand for high-speed broadband and support new services. Regulatory environments also play a significant role, influencing pricing, competition, and investment.

Regulatory Implications

Frontier operates in a regulated industry, particularly concerning its legacy voice services. While the focus is shifting to broadband, compliance with service quality standards and potential universal service fund obligations remain relevant. Changes in broadband deployment policies or net neutrality regulations could also impact the company's operations and investment strategies.

What Investors Should Do

1. Monitor cash burn and capital expenditure efficiency.
2. Analyze the trend of widening year-to-date net losses.
3. Evaluate the sustainability of the current debt levels.

Key Dates

• 2025-09-30: Quarter and Nine-Month Period End — Reporting period for the financial results, including revenue, net loss, cash position, and debt levels.
• 2025-12-31: Prior Year End — Benchmark for comparison of cash and cash equivalents and long-term debt from the previous fiscal year.

Glossary

Depreciation and amortization

The systematic allocation of the cost of tangible assets (depreciation) and intangible assets (amortization) over their useful lives. (Increased significantly to $1,372 million for the nine months ended September 30, 2025, reflecting the company's substantial investments in property, plant, and equipment, particularly for fiber build-out.)

Capital expenditures

Funds used by a company to acquire, upgrade, and maintain physical assets such as property, buildings, and equipment. (Totaled $2,421 million for the nine months ended September 30, 2025, a substantial increase from the prior year, indicating aggressive investment in network expansion.)

Net proceeds from long-term debt borrowings

The amount of cash received from issuing new long-term debt, net of any associated issuance costs. (Amounted to $480 million for the nine months ended September 30, 2025, contributing to the increase in the company's total long-term debt.)

Broadband subscribers

The number of customers who subscribe to the company's high-speed internet services. (Frontier reported approximately 3.3 million broadband subscribers as of September 30, 2025, indicating the scale of its customer base in this key service area.)

Incumbent voice services provider

The primary provider of traditional landline telephone services in a specific geographic area, often a legacy provider from regulated monopolies. (Frontier operates as this in many of its service areas, implying certain market positions and potential regulatory responsibilities.)

Year-Over-Year Comparison

Frontier Communications Parent, Inc. reported a mixed financial performance compared to the prior year. Revenue for the three and nine months ended September 30, 2025, showed modest growth, increasing by 4.1% and 3.8% respectively. However, the company's net loss widened year-over-year for the nine-month period to $263 million from $204 million, indicating rising costs. A significant concern is the sharp decline in cash and cash equivalents, down to $336 million from $750 million, driven by a substantial increase in capital expenditures for fiber build-out. Long-term debt also increased to $12,008 million, reflecting new borrowings to fund these investments.

Key Financial Figures

• $0.01 — ch registered Common Stock, par value $0.01 per share FYBR The NASDAQ Stock Mar

Filing Documents

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Financial Information (Unaudited)

Part I. Financial Information (Unaudited)

Financial Statements

Item 1. Financial Statements Consolidated Balance Sheets as of September 30 , 2025, and December 31, 2024 1 Consolidated Statements of Operations for the three and nine months ended September 30 , 2025, and 2024 2 Consolidated Statements of Comprehensive Loss for the three a nd nine months ended September 30, 2025, and 2024 3 Consolidated Statements of Equity for the three a nd nine months ended September 30 , 2025, and 2024 4 Consolidated Statements of Cash Flows for the nine months ended September 30 , 2025, and 2024 5

Notes to Consolidated Financial Statements

Notes to Consolidated Financial Statements 6

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 36

Quantitative and Qualitative Disclosures about Market Risk

Item 3. Quantitative and Qualitative Disclosures about Market Risk 54

Controls and Procedures

Item 4. Controls and Procedures 56

Other Information

Part II. Other Information

Legal Proceedings

Item 1. Legal Proceedings 57

Risk Factors

Item 1A. Risk Factors 57

Other Information

Item 5. Other Information 57

Exhibits

Item 6. Exhibits 58 Signature 59

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements FRONTIER COMMUNICATIONS PARENT, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEET S ($ in millions and shares in thousands, except for per-share amounts) (Unaudited) September 30, 2025 December 31, 2024 ASSETS Current assets: Cash and cash equivalents $ 336 $ 750 Accounts receivable, less allowances of $ 55 and $ 66 , respectively 441 379 Prepaid expenses 89 67 Income taxes and other current assets 97 64 Total current assets 963 1,260 Property, plant and equipment, net 17,345 15,678 Other intangibles, net 3,023 3,264 Other assets 296 412 Total assets $ 21,627 $ 20,614 LIABILITIES AND EQUITY Current liabilities: Long-term debt due within one year $ 10 $ 10 Accounts payable and accrued liabilities 1,249 1,033 Advanced billings 201 180 Accrued other taxes 128 124 Accrued interest 187 128 Pension and other postretirement benefits 39 39 Other current liabilities 1,347 775 Total current liabilities 3,161 2,289 Deferred income taxes 560 609 Pension and other postretirement benefits 476 591 Other liabilities 723 633 Long-term debt 12,008 11,551 Total liabilities 16,928 15,673 Equity: Common stock, $ 0.01 par value ( 1,750,000 authorized shares, 250,336 and 249,695 shares issued and outstanding at September 30, 2025 and December 31, 2024, respectively) 3 3 Additional paid-in capital 4,334 4,299 Retained earnings 299 562 Accumulated other comprehensive income, net of tax 63 77 Total equity 4,699 4,941 Total liabilities and equity $ 21,627 $ 20,614 The accompanying Notes are an integral part of these unaudited Consolidated Financial Statements. 1

FINANCIAL INFORMATION (Continued)

PART I. FINANCIAL INFORMATION (Continued) FRONTIER COMMUNICATIONS PARENT, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS ($ in millions and shares in thousands, except for per-share amounts) (Unaudited) For the three months ended For the nine months ended September 30, September 30, 2025 2024 2025 2024 Revenue $ 1,550 $ 1,489 $ 4,600 $ 4,431 Operating expenses: Cost of service 547 538 1,600 1,576 Selling, general, and administrative expenses 395 427 1,318 1,304 Depreciation and amortization 470 410 1,372 1,196 Restructuring costs and other charges 21 28 73 88 Total operating expenses 1,433 1,403 4,363 4,164 Operating income 117 86 237 267 Investment and other income (loss), net (See Note 12) ( 9 ) 29 54 117 Interest expense ( 198 ) ( 203 ) ( 595 ) ( 601 ) Loss before income taxes ( 90 ) ( 88 ) ( 304 ) ( 217 ) Income tax benefit ( 14 ) ( 6 ) ( 41 ) ( 13 ) Net loss $ ( 76 ) $ ( 82 ) $ ( 263 ) $ ( 204 ) Basic net loss per share attributable to Frontier common shareholders $ ( 0.30 ) $ ( 0.33 ) $ ( 1.05 ) $ ( 0.82 ) Diluted net loss per share attributable to Frontier common shareholders $ ( 0.30 ) $ ( 0.33 ) $ ( 1.05 ) $ ( 0.82 ) Total weighted average shares outstanding - basic 250,320 248,986 250,111 247,866 Total weighted average shares outstanding - diluted 250,320 248,986 250,111 247,866 The accompanying Notes are an integral part of these unaudited Consolidated Financial Statements. 2

FINANCIAL INFORMATION (Continued)

PART I. FINANCIAL INFORMATION (Continued) FRONTIER COMMUNICATIONS PARENT, INC. AND SUBSIDIA RIES CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS ($ in millions) (Unaudited) For the three months ended For the nine months ended September 30, September 30, 2025 2024 2025 2024 Net loss $ ( 76 ) $ ( 82 ) $ ( 263 ) $ ( 204 ) Other comprehensive loss, net of tax ( 5 ) ( 5 ) ( 14 ) ( 14 ) Comprehensive loss $ ( 81 ) $ ( 87 ) $ ( 277 ) $ ( 218 ) The accompanying Notes are an integral part of these unaudited Consolidated Financial Statements. 3

FINANCIAL INFORMATION (Continued)

PART I. FINANCIAL INFORMATION (Continued) FRONTIER COMMUNICATION S PARENT, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF EQUITY ($ in millions and shares in thousands) (Unaudited) For the nine months ended September 30, 2025 Accumulated Additional Other Common Stock Paid-In Retained Comprehensive Total Shares Amount Capital Earnings Income Equity Balance at January 1, 2025 249,695 $ 3 $ 4,299 $ 562 $ 77 $ 4,941 Stock plans, net 531 - 5 - - 5 Net loss - - - ( 64 ) - ( 64 ) Other comprehensive loss, net of tax - - - - ( 5 ) ( 5 ) Balance at March 31, 2025 250,226 $ 3 $ 4,304 $ 498 $ 72 $ 4,877 Stock plans, net 73 - 11 - - 11 Net loss - - - ( 123 ) - ( 123 ) Other comprehensive loss, net of tax - - - - ( 4 ) ( 4 ) Balance at June 30, 2025 250,299 $ 3 $ 4,315 $ 375 $ 68 $ 4,761 Stock plans 37 - 19 - - 19 Net loss - - - ( 76 ) - ( 76 ) Other comprehensive income, net of tax - - - - ( 5 ) ( 5 ) Balance at September 30, 2025 250,336 $ 3 $ 4,334 $ 299 $ 63 $ 4,699 For the nine months ended September 30, 2024 Accumulated Additional Other Common Stock Paid-In Retained Comprehensive Total Shares Amount Capital Earnings Income Equity Balance at January 1, 2024 245,813 $ 2 $ 4,297 $ 884 $ 96 $ 5,279 Stock plans, net 2,734 - ( 16 ) - - ( 16 ) Net income - - - 1 - 1 Other comprehensive loss, net of tax - - - - ( 5 ) ( 5 ) Balance at March 31, 2024 248,547 $ 2 $ 4,281 $ 885 $ 91 $ 5,259 Stock plans, net 415 - 5 - - 5 Net loss - - - ( 123 ) - ( 123 ) Other comprehensive loss, net of tax - - - - ( 4 ) ( 4 ) Balance at June 30, 2024 248,962 $ 2 $

FINANCIAL INFORMATION (Continued)

PART I. FINANCIAL INFORMATION (Continued) FRONTIER COMMUN ICATIONS PARENT, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS ($ in millions) (Unaudited) For the nine months ended September 30, 2025 2024 Cash flows provided from (used by) operating activities: Net loss $ ( 263 ) $ ( 204 ) Adjustments to reconcile net income to net cash provided from (used by) operating activities: Depreciation and amortization 1,372 1,196 Pension / OPEB special termination benefit enhancements - 11 Stock-based compensation expense 48 54 Amortization of premium ( 16 ) ( 15 ) Bad debt expense 33 30 Other adjustments 15 10 Deferred income taxes ( 44 ) ( 18 ) Change in accounts receivable ( 96 ) ( 3 ) Change in long-term pension and other postretirement liabilities ( 134 ) ( 156 ) Change in accounts payable and other liabilities 604 392 Change in prepaid expenses, income taxes, and other assets ( 19 ) 30 Net cash provided from operating activities 1,500 1,327 Cash flows provided from (used by) investing activities: Capital expenditures ( 2,421 ) ( 1,991 ) Sale of short-term investments - 1,075 Proceeds on sale of assets 4 12 Other 2 6 Net cash used by investing activities ( 2,415 ) ( 898 ) Cash flows provided from (used by) financing activities: Long-term debt principal payments ( 5 ) ( 410 ) Net proceeds from long-term debt borrowings 480 750 Payments of vendor financing ( 16 ) ( 415 ) Financing costs paid ( 17 ) ( 29 ) Proceeds from Notes Payable 50 - Finance lease obligation payments ( 35 ) ( 23 ) Taxes paid on behalf of employees for shares withheld ( 12 ) ( 49 ) Other ( 14 ) ( 12 ) Net cash provided from (used by) financing activities 431 ( 188 ) Increase (Decrease) in cash, cash equivalents, and restricted cash ( 484 ) 241 Cash, cash equivalents, and restricted cash at January 1

FINANCIAL INFORMATION (Continued)

PART I. FINANCIAL INFORMATION (Continued) FRONTIER COMMUNICATIONS PARENT, INC. AND SUBSIDIARIES (Unaudited) (1) Summary of Significant Accounti ng Policies : a) Description of Business: Frontier Communications Parent, Inc. is a provider of communications services in the United States, with approximately 3.3 million broadband subscribers and approximately 12,700 employees, operating in 25 states as of September 30, 2025. We were incorporated in 1935, originally under the name of Citizens Utilities Company. Frontier and its subsidiaries are referred to herein as "we," "us," "our," "Frontier," or the "Company" in this report. b) Basis of Presentation and Use of Estimates : Our interim unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (GAAP) and should be read in conjunction with the consolidated financial statements and notes included in our Annual Report on Form 10-K for the year ended December 31, 2024. The consolidated financial statements include the accounts of Frontier Communications Parent, Inc., all consolidated subsidiaries and variable interest entities of which the Company is the primary beneficiary. All significant intercompany balances and transactions have been eliminated in consolidation. These interim unaudited consolidated financial statements include all adjustments (consisting of normal recurring accruals) considered necessary, in the opinion of Frontier's management, to present fairly the results for the interim periods shown. Revenues, net income, and cash flows for any interim periods are not necessarily indicative of results that may be expected for the full year. We operate in one reportable segment. Frontier provides both regulated and unregulated voice, data and video services to consumer, business, and wholesale customers and is typically the incumbent voice services provider in its service areas. Certain reclassifications

FINANCIAL INFORMATION (Continued)

PART I. FINANCIAL INFORMATION (Continued) FRONTIER COMMUNICATIONS PARENT, INC. AND SUBSIDIARIES (Unaudited) d) Cash Equivalents and Restricted Cash : We consider all liquid investments with an original maturity of three months or less to be cash equivalents. Restricted cash amounts represent cash collateral required for certain Letter of Credit obligations and utility vendors and collateral for debt arrangements. At September 30, 2025 and December 31, 2024, the Company had $ 91 million and $ 161 million, respectively, in restricted cash on our consolidated balance sheet. Pursuant to the terms of the Company's secured fiber network revenue term notes, and secured fiber network revenue variable funding note facility, as described in Note 9, restricted cash is held in securitization escrow accounts. As of September 30, 2025 and December 31, 2024, approximately $ 84 million and $ 56 million, respectively, is current restricted cash held for the purpose of paying interest and certain fees. This current restricted cash is included within the line item "Income taxes and other current assets" on our consolidated balance sheet. In addition, as of September 30, 2025 and December 31, 2024, we had approximately $ 7 million and $ 105 million, respectively, in noncurrent restricted cash held for the purpose of satisfying the required liquidity reserve amount and other collateral obligations. This non-current restricted cash is included within the line item "other assets" on our consolidated balance sheet. e) I nvestments : Short-term Investments Given the long-term nature of our fiber build, we may invest cash into short-term investments to improve interest income while preserving funding flexibility. As of September 30, 2025 and December 31, 2024, the Company had no short-term investments. Other Investments In connection with the closing of the securitization transaction, approximately $ 63 million in the form of U.S. Treasuries was deposited in an escrow a

FINANCIAL INFORMATION (Continued)

PART I. FINANCIAL INFORMATION (Continued) FRONTIER COMMUNICATIONS PARENT, INC. AND SUBSIDIARIES (Unaudited) Satisfaction of Performance Obligations We satisfy our obligations to customers by transferring goods and services in exchange for consideration received from the customer. The timing of our satisfaction of the performance obligation may differ from the timing of the customer's payment. Bundled Service and Allocation of Discounts When customers purchase more than one service, revenue for each is determined by allocating the total transaction price based upon the relative stand-alone selling price of each service. We frequently offer service discounts as an incentive to customers, which reduce the total transaction price. Any incentives which are considered cash equivalents (e.g. gift cards) that are granted will similarly result in a reduction of the total transaction price. Cash equivalent incentives are accounted for on a portfolio basis and are recognized in the month they are awarded to customers. Customer Incentives In the process of acquiring and/or retaining customers, we may issue a variety of incentives aside from service discounts or cash equivalent incentives. Those incentives that have stand-alone value (e.g. gift cards not considered cash equivalents or free goods/services) are considered separate performance obligations. While these incentives are free to the customer, a portion of the consideration received from the customer is ascribed to them based upon their relative stand-alone selling price. These types of incentives are accounted for on a portfolio basis with both revenue and expense recognized in the month they are awarded to the customer. The earned revenue associated with these incentives is reflected in "Other" revenue while the associated costs are reflected in "Cost of Services". Upfront Fees All non-refundable upfront fees assessed to our customers provide them with a material right to renew; therefore, they are

FINANCIAL INFORMATION (Continued)

PART I. FINANCIAL INFORMATION (Continued) FRONTIER COMMUNICATIONS PARENT, INC. AND SUBSIDIARIES (Unaudited) term which will end March 31, 2032. We are required to complete the RDOF deployment meeting certain annual milestones starting on December 31, 2025 through December 31, 2028. Thereafter, USAC and the FCC will review carriers' RDOF program completion data, and if USAC or the FCC determines that we did not satisfy applicable FCC RDOF requirements, funding provided to us can be discontinued and we could be required to return a portion of the funds previously received and may be subject to certain other penalties, requirements and obligations. Fines and penalties could also be assessed to the extent Frontier were ever to decide to surrender RDOF locations previously awarded. We accrue for any potential shortfall in the household build commitment that we deem to be probable and reasonably estimated. g) Property, Plant and Equipment: Property, plant and equipment are stated at original cost, including capitalized interest. Maintenance and repairs are charged to operating expenses as incurred. The gross book value of routine property, plant and equipment retired is charged against accumulated depreciation. h) Definite Lived Intangible Assets: Intangible assets are initially recorded at estimated fair value. Customer relationship intangibles were established for business and wholesale customers. These intangibles are amortized on a straight-line basis over their assigned useful lives of between 11 and 16 years. Additionally, trademark and tradename assets established upon emergence are amortized on a straight-line basis over 5 years. We review such intangible assets annually, or more often if indicators of impairment arise, to determine whether there is evidence that indicates an impairment condition may exist that would necessitate a change in useful life and a different amortization period. (i) Impairment of Long-Lived Assets and Long-Lived Assets to

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