Diversified Telecommunication Services
Company Overview of Qwest Corp.
Qwest Corporation, an integrated communications company, provides communications services to residential, business, governmental, and wholesale customers in Arizona, Colorado, Idaho, Iowa, Minnesota, Montana, Nebraska, New Mexico, North Dakota, Oregon, South Dakota, Utah, Washington, and Wyoming. The company offers broadband services that allow customers to connect to Internet through existing telephone lines or fiber-optic cables; private line services for directly connecting two or more sites; Ethernet services, including point-to-point and multi-point configurations that facilitate data transmissions in metropolitan areas and wide area networks, as well as to provide transmission services...
100 CenturyLink Drive
Monroe, LA 71203
Founded in 1911
Key Executives for Qwest Corp.
Chief Executive Officer and President
Chief Financial Officer, Executive Vice President and Director
Chief Accounting Officer, Executive Vice President and Controller
Executive Vice President, General Counsel and Director
Senior Vice President and Treasurer
Compensation as of Fiscal Year 2015.
Qwest Corp. Key Developments
Idaho Public Utilities Commission Issues Order of Qwest Corporation's Broadband Equipment Tax Credit Application for 2014
Oct 6 15
On September 9, 2015, Qwest Corporation applied to Idaho Public Utilities Commission for an Order confirming that equipment it installed for calendar year 2014 is "qualified broadband equipment" under Idaho Code section 63-30291 (Income tax credit for investment in broadband equipment). With this Order, the company confirms that the installed equipment meets that statutory definition. The Application: In its Application, Qwest indicated that in 2014, its net investment in qualifying broadband equipment was S25.403.249. See Application at 1. According to the company, Qwest uses terrestrial wireline technology and various forms of DSL-based equipment, and a mix of fiber optic and metallic cable, supporting traditional telephony services. Id. The company stated that the equipment is capable of transmitting signals at between 256 kilobits per second (kbps) to 40 megabits per second (mbps), to or from a customer.1 Id. at 2. The company also stated that the equipment was installed in and around exchanges in Moscow. Lewiston, Deary, Troy, Bovill, Genessee, Potlatch, and Orofino. Id. The Broadband Equipment Tax Credit: Idaho Code section 63-30291 allows a taxpayer to receive an income tax credit for having installed qualified broadband equipment during a calendar year. Before the taxpayer is eligible for the tax credit, the taxpayer must first apply to the Commission for an Order confirming that the installed equipment is "qualified broadband equipment" as defined in the statute. Idaho Code section 63-30291(4). That statute defines "qualified broadband equipment" as equipment that qualifies for the Idaho Code section 63-3029B capital investment credit that "is capable of transmitting signals at a rate of at least" 200,000 bits per second (bps) to a subscriber and at least 125,000 bits per second (bps) from a subscriber. Idaho Code section 63-30291(3)(b). In addition, to be "qualified One rnbps equals 1,000 kbps. One kbps equals 1,000 bits per second (bps). broadband equipment" the equipment must be "primarily used to provide services in Idaho to Idaho public subscribers." See Idaho Code section 63-30291(3)(b)(vii). Further, in "the case of a telecommunications carrier, such qualifying equipment shall be necessary to the provision of broadband service and an integral part of a broadband network." Idaho Code section 63- 30291(3)(b)(i). In furtherance of its statutory responsibility, the Commission has issued Order No. 28784. That Order specifies the information the taxpayer must include in the broadband tax credit application. When the taxpayer files the application, the Commission Staff reviews it to determine whether the listed equipment meets the statutory definition of "qualified broadband equipment." Staff then submits a recommendation to the Commission. If the Commission ultimately approves the application, then the Commission forwards it and the Order to the Idaho State Tax Commission. Staff Review: Staff reviewed Qwest's Application under Idaho Code section 63-30291. Based on its review, Staff believes that Qwest is a qualified telecommunications provider, and that its listed equipment meets the statutory criteria for "qualified broadband equipment" that is eligible for the tax credit. Staff also believes the company's identified expenditures "were for equipment that is 'necessary for the provision of broadband services and an integral part of a broadband network." Decision Memorandum at 2. Stall thus recommended that the Commission: (1) issue an Order confirming Qwest's equipment is "qualified broadband equipment," and (2) forward copies of the Application and Order to the Idaho State Tax Commission. Commission Findings: Having reviewed Qwest's Application and Staffs recommendation. The company finds that the Company's equipment is "qualified broadband equipment" eligible for the tax credit under Idaho Code section 63-30291. The listed equipment (as presently configured) is an integral part of the Company's broadband network and is necessary to the provision of broadband service to Idaho customers. Accordingly, based on what has been provided, The company finds it appropriate to issue an Order confirming that Qwest's equipment is "qualified broadband equipment." The Commission makes no findings regarding the costs of the installed broadband equipment or other expenses.
Courts Grants Preliminary Approval for Class-Action Settlement in the Lawsuit Files Against Sprint, Qwest, Level 3, and WilTel Communications
Oct 22 14
The following class-action Settlement is being announced by Court-approved Notice-program designer, Kinsella Media LLC: Courts have granted preliminary approval for a class-action Settlement involving fiber-optic cable and related telecommunications equipment that has been installed in railroad Rights of Way. This Settlement resolves a lawsuit in Texas, and will provide cash benefits to current and former owners of land next to or under the Rights of Way. Sprint, Qwest, Level 3, and WilTel Communications, the Defendants, are telecommunications companies. Plaintiffs allege that, before installing the fiber-optic cable and related telecommunications equipment, the Defendants also were required to obtain consent from those landowners who owned the land under the Rights of Way. The Defendants contend that the railroads had the right to allow them to use the Rights of Way without the need for further permission from the adjoining landowners and deny any wrongdoing. Class Members include current or previous owners of land next to or under a railroad Right of Way, at any time since the cable was installed in the state of Texas.
Qwest Completes Sale of $500 Million of its Unsecured 6.875% Notes Due 2054
Sep 30 14
Qwest has completed its sale of $500 million of its unsecured 6.875% notes due 2054. Qwest expects to receive net proceeds from the sale of the notes of about $483 million. The net proceeds will be used, together with available cash or additional borrowings from CenturyLink or one of its affiliates, to retire at maturity on Oct. 1 all $600 million of Qwest's outstanding 7.5% notes, including the payment of accrued and unpaid interest thereon of about $23 million.
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