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FYBR Frontier Communications Parent

Filed: 18 Dec 20, 4:46pm

Exhibit 99.1

UNITED STATES BANKRUPTCY COURT
SOUTHERN DISTRICT OF NEW YORK

In re: FRONTIER COMMUNICATIONS CORPORATION, et al.
Case No.  20-22476 (RDD)
 
Reporting Period 11/1/20 - 11/30/20
 
Federal Tax I.D.  06-0619596

CORPORATE MONTHLY OPERATING REPORT      
       
Required Documents Form No. 
Document
Attached
 
Explanation
Attached
Schedule of Cash Receipts and Disbursements MOR-1 Yes No
Bank Reconciliation (or copies of debtor’s bank reconciliations) MOR-1 Yes No
Copies of bank statements[1]
      
Cash disbursements journals[1]
      
Statement of Operations MOR-2 Yes No
Balance Sheet MOR-3 Yes No
Status of Post-petition Taxes MOR-4 Yes No
Copies of IRS Form 6123 or payment receipt[1]
      
Copies of tax returns filed during reporting period[1]
      
Summary of Unpaid Post-Petition Debts MOR-4 Yes No
Listing of Aged Accounts Payable[1]
      
Accounts Receivable Aging MOR-5 Yes No
Payments to Insiders MOR-6 Yes No
Payments to Professionals MOR-6 Yes No
Debtor Questionnaire MOR-7 Yes No

Note 1: Full record is voluminous but can be provided upon request.

This Monthly Operating Report (“MOR”) has been prepared solely for the purpose of complying with monthly reporting requirements applicable in the Debtors’ chapter 11 cases and is in a format acceptable to the United States Trustee. The financial information contained herein is limited in scope and covers a limited time period. Moreover, such information is preliminary and unaudited, and is not necessarily prepared in accordance with U.S. GAAP.
 
I declare under penalty of perjury (28 U.S.C. Section 1746) that this report and the attached documents are true and correct to the best of my knowledge and belief.

/s/ Sheldon L. Bruha December 18th, 2020 
Signature Date 

Sheldon L. Bruha, Executive Vice President and CFO


UNITED STATES BANKRUPTCY COURT
SOUTHERN DISTRICT OF NEW YORK

In re: FRONTIER COMMUNICATIONS CORPORATION, et al.
Case No.  20-22476 (RDD)
 
Reporting Period  11/1/20 - 11/30/20
 
Federal Tax I.D.  06-0619596

The report includes activity from the following Debtors and related case numbers:

LISTING OF DEBTOR ENTITIES     
Debtor
Case
Number
  Debtor
Case
Number
Citizens Capital Ventures Corp.20-22477  Frontier Communications Of Indiana, LLC20-22543
Citizens Directory Services Company L.L.C.20-22478  Frontier Communications Of Iowa, LLC20-22545
Citizens Louisiana Accounting Company20-22479  Frontier Communications Of Lakeside, Inc.20-22550
Citizens Newcom Company20-22480  Frontier Communications Of Lakewood, LLC20-22554
Citizens Newtel, LLC20-22486  Frontier Communications Of Michigan, Inc.20-22558
Citizens Pennsylvania Company LLC20-22493  Frontier Communications Of Minnesota, Inc.20-22561
Citizens SERP Administration Company20-22497  Frontier Communications Of Mississippi LLC20-22564
Citizens Telecom Services Company L.L.C.20-22501  Frontier Communications Of Mt. Pulaski, Inc.20-22567
Citizens Telecommunications Company  Of Minnesota, LLC20-22519  Frontier Communications Of New York, Inc.20-22571
Citizens Telecommunications Company Of California Inc.20-22508  Frontier Communications Of Orion, Inc.20-22572
Citizens Telecommunications Company Of Illinois20-22514  Frontier Communications Of Oswayo River LLC20-22482
Citizens Telecommunications Company Of Nebraska20-22528  Frontier Communications Of Pennsylvania, LLC20-22485
Citizens Telecommunications Company Of Nebraska LLC20-22532  Frontier Communications Of Rochester, Inc.20-22489
Citizens Telecommunications Company Of Nevada20-22539  Frontier Communications Of Seneca-Gorham, Inc.20-22491
Citizens Telecommunications Company Of New York, Inc.20-22544  Frontier Communications Of Sylvan Lake, Inc.20-22494
Citizens Telecommunications Company Of Tennessee L.L.C.20-22553  Frontier Communications of the Carolinas LLC20-22498
Citizens Telecommunications Company Of The White Mountains, Inc.20-22481  Frontier Communications Of The South, LLC20-22503
Citizens Telecommunications Company Of Utah20-22487  Frontier Communications Of The Southwest Inc.20-22505
Citizens Telecommunications Company Of West Virginia20-22492  Frontier Communications Of Thorntown, LLC20-22509
Citizens Utilities Capital L.P.20-22496  Frontier Communications Of Virginia, Inc.20-22513
Citizens Utilities Rural Company, Inc.20-22502  Frontier Communications Of Wisconsin LLC20-22518
Commonwealth Communication, LLC20-22504  Frontier Communications Online And Long Distance Inc.20-22522
Commonwealth Telephone Company LLC20-22512  Frontier Communications Services Inc.20-22527
Commonwealth Telephone Enterprises LLC20-22516  Frontier Directory Services Company, LLC20-22533
Commonwealth Telephone Management Services, Inc.20-22521  Frontier Florida LLC20-22537
CTE Holdings, Inc.20-22526  Frontier Infoservices Inc.20-22540
CTE Services, Inc.20-22531  Frontier Midstates Inc.20-22549
CTE Telecom, LLC20-22536  Frontier Mobile LLC20-22551
CTSI, LLC20-22541  Frontier North Inc.20-22556
CU Capital LLC20-22546  Frontier Security Company20-22560
CU Wireless Company LLC20-22552  Frontier Services Corp.20-22563
Electric Lightwave NY, LLC20-22557  Frontier Southwest Incorporated20-22484
Evans Telephone Holdings, Inc.20-22562  Frontier Subsidiary Telco LLC20-22490
Fairmount Cellular LLC20-22566  Frontier Techserv, Inc.20-22499
Frontier ABC LLC20-22570  Frontier Telephone Of Rochester, Inc.20-22507
Frontier California Inc.20-22573  Frontier Video Services Inc.20-22515
Frontier Communications - Midland, Inc.20-22574  Frontier West Virginia Inc.20-22524
Frontier Communications - Prairie, Inc.20-22569  GVN Services20-22530
Frontier Communications - Schuyler, Inc.20-22483  N C C Systems, Inc.20-22535
Frontier Communications Corporate Services Inc.20-22488  Navajo Communications Co., Inc.20-22542
Frontier Communications Corporation20-22476  Newco West Holdings LLC20-22548
Frontier Communications ILEC Holdings LLC20-22495  Ogden Telephone Company20-22555
Frontier Communications Of America, Inc.20-22506  Phone Trends, Inc.20-22475
Frontier Communications Of Ausable Valley, Inc.20-22511  Rhinelander Telecommunications, LLC20-22559
Frontier Communications Of Breezewood, LLC20-22517  Rib Lake Cellular For Wisconsin RSA #3, Inc.20-22565
Frontier Communications Of Canton, LLC20-22520  Rib Lake Telecom, Inc.20-22568
Frontier Communications of Delaware, Inc.20-22525  SNET America, Inc.20-22578
Frontier Communications Of Depue, Inc.20-22529  TCI Technology & Equipment LLC20-22575
Frontier Communications Of Georgia LLC20-22534  The Southern New England Telephone Company20-22576
Frontier Communications Of Illinois, Inc.20-22538  Total Communications, Inc.20-22577
      
Northwest Operations Debtor Entities[1]
     
Frontier Communications Northwest Inc.20-22500  Citizens Telecommunications Company Of Idaho20-22510
Citizens Telecommunications Company Of Oregon20-22547  Citizens Telecommunications Company Of Montana20-22523


 
Note 1: Pursuant to the order entered by the Bankruptcy Court approving the sale of the Company’s Northwest Operations, among other things, the chapter 11 cases of the following entities have been dismissed.


UNITED STATES BANKRUPTCY COURT
SOUTHERN DISTRICT OF NEW YORK

In re: FRONTIER COMMUNICATIONS CORPORATION, et al.
Case No.  20-22476 (RDD)
 
Reporting Period  11/1/20 - 11/30/20
 
Federal Tax I.D.  06-0619596

MOR-1:  SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS[1]

Case
Number
 Debtor 
Cash
Receipts
 
Cash
Disbursements
20-22477 Citizens Capital Ventures Corp. $  - $  -
20-22478 Citizens Directory Services Company L.L.C. - -
20-22479 Citizens Louisiana Accounting Company - -
20-22480 Citizens Newcom Company - -
20-22486 Citizens Newtel, LLC - -
20-22493 Citizens Pennsylvania Company LLC - -
20-22497 Citizens SERP Administration Company - -
20-22501 Citizens Telecom Services Company L.L.C. 450,863,491 450,835,855
20-22519 Citizens Telecommunications Company  Of Minnesota, LLC - -
20-22508 Citizens Telecommunications Company Of California Inc. - -
20-22514 Citizens Telecommunications Company Of Illinois - -
20-22528 Citizens Telecommunications Company Of Nebraska - -
20-22532 Citizens Telecommunications Company Of Nebraska LLC - -
20-22539 Citizens Telecommunications Company Of Nevada - -
20-22544 Citizens Telecommunications Company Of New York, Inc. - -
20-22553 Citizens Telecommunications Company Of Tennessee L.L.C. - -
20-22481 Citizens Telecommunications Company Of The White Mountains, Inc. - -
20-22487 Citizens Telecommunications Company Of Utah - -
20-22492 Citizens Telecommunications Company Of West Virginia - -
20-22496 Citizens Utilities Capital L.P. - -
20-22502 Citizens Utilities Rural Company, Inc. - -
20-22504 Commonwealth Communication, LLC - -
20-22512 Commonwealth Telephone Company LLC - -
20-22516 Commonwealth Telephone Enterprises LLC - -
20-22521 Commonwealth Telephone Management Services, Inc. - -
20-22526 CTE Holdings, Inc. - -
20-22531 CTE Services, Inc. - -
20-22536 CTE Telecom, LLC - -
20-22541 CTSI, LLC - -
20-22546 CU Capital LLC - -
20-22552 CU Wireless Company LLC - -
20-22557 Electric Lightwave NY, LLC - -
20-22562 Evans Telephone Holdings, Inc. - -
20-22566 Fairmount Cellular LLC - -
20-22570 Frontier ABC LLC - -
20-22573 Frontier California Inc. - -
20-22574 Frontier Communications - Midland, Inc. - -
20-22569 Frontier Communications - Prairie, Inc. - -
20-22483 Frontier Communications - Schuyler, Inc. - -
20-22488 Frontier Communications Corporate Services Inc. - -
20-22476 Frontier Communications Corporation 2,162,348,905 2,025,575,131
20-22495 Frontier Communications ILEC Holdings LLC - 112,714,912
20-22506 Frontier Communications Of America, Inc. - -
20-22511 Frontier Communications Of Ausable Valley, Inc. - -
20-22517 Frontier Communications Of Breezewood, LLC - -
20-22520 Frontier Communications Of Canton, LLC - -
20-22525 Frontier Communications of Delaware, Inc. - -
20-22529 Frontier Communications Of Depue, Inc. - -
20-22534 Frontier Communications Of Georgia LLC - -
20-22538 Frontier Communications Of Illinois, Inc. - -
20-22543 Frontier Communications Of Indiana, LLC - -
20-22545 Frontier Communications Of Iowa, LLC - -
20-22550 Frontier Communications Of Lakeside, Inc. - -
20-22554 Frontier Communications Of Lakewood, LLC - -
20-22558 Frontier Communications Of Michigan, Inc. - -
20-22561 Frontier Communications Of Minnesota, Inc. - -


UNITED STATES BANKRUPTCY COURT
SOUTHERN DISTRICT OF NEW YORK

In re: FRONTIER COMMUNICATIONS CORPORATION, et al.
Case No.  20-22476 (RDD)
 
Reporting Period  11/1/20 - 11/30/20
 
Federal Tax I.D.  06-0619596

MOR-1:  SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS[1]

Case
Number
 Debtor 
Cash
Receipts
 
Cash
Disbursements
20-22564 Frontier Communications Of Mississippi LLC - -
20-22567 Frontier Communications Of Mt. Pulaski, Inc. - -
20-22571 Frontier Communications Of New York, Inc. - -
20-22572 Frontier Communications Of Orion, Inc. - -
20-22482 Frontier Communications Of Oswayo River LLC - -
20-22485 Frontier Communications Of Pennsylvania, LLC - -
20-22489 Frontier Communications Of Rochester, Inc. - -
20-22491 Frontier Communications Of Seneca-Gorham, Inc. - -
20-22494 Frontier Communications Of Sylvan Lake, Inc. - -
20-22498 Frontier Communications of the Carolinas LLC - -
20-22503 Frontier Communications Of The South, LLC - -
20-22505 Frontier Communications Of The Southwest Inc. - -
20-22509 Frontier Communications Of Thorntown, LLC - -
20-22513 Frontier Communications Of Virginia, Inc. - -
20-22518 Frontier Communications Of Wisconsin LLC 50,421 37,124
20-22522 Frontier Communications Online And Long Distance Inc. - -
20-22527 Frontier Communications Services Inc. - -
20-22533 Frontier Directory Services Company, LLC - -
20-22537 Frontier Florida LLC - -
20-22540 Frontier Infoservices Inc. - -
20-22549 Frontier Midstates Inc. - -
20-22551 Frontier Mobile LLC - -
20-22556 Frontier North Inc. - -
20-22560 Frontier Security Company - -
20-22563 Frontier Services Corp. - -
20-22484 Frontier Southwest Incorporated - -
20-22490 Frontier Subsidiary Telco LLC - -
20-22499 Frontier Techserv, Inc. - -
20-22507 Frontier Telephone Of Rochester, Inc. 2,393,461 2,393,000
20-22515 Frontier Video Services Inc. - -
20-22524 Frontier West Virginia Inc. - -
20-22530 GVN Services - -
20-22535 N C C Systems, Inc. - -
20-22542 Navajo Communications Co., Inc. - -
20-22548 Newco West Holdings LLC - -
20-22555 Ogden Telephone Company - -
20-22475 Phone Trends, Inc. - -
20-22559 Rhinelander Telecommunications, LLC - -
20-22565 Rib Lake Cellular For Wisconsin RSA #3, Inc. - -
20-22568 Rib Lake Telecom, Inc. - -
20-22578 SNET America, Inc. - -
20-22575 TCI Technology & Equipment LLC - -
20-22576 The Southern New England Telephone Company - -
20-22577 Total Communications, Inc. 4,784,549 4,964,922
       
Northwest Operations Debtor Entities
  
20-22500 Frontier Communications Northwest Inc. - -
20-22547 Citizens Telecommunications Company Of Oregon - -
20-22510 Citizens Telecommunications Company Of Idaho - -
20-22523 Citizens Telecommunications Company Of Montana - -
       
Total   $ 2,620,440,826 $ 2,596,520,945



Note 1: Includes cash receipts and disbursements related to third party transactions as well as intercompany transfers between Debtors.


UNITED STATES BANKRUPTCY COURT
SOUTHERN DISTRICT OF NEW YORK

In re: FRONTIER COMMUNICATIONS CORPORATION, et al.
Case No.  20-22476 (RDD)
 
Reporting Period  11/1/20 - 11/30/20
 
Federal Tax I.D.  06-0619596
 
MOR-1:  BANK ACCOUNT RECONCILIATIONS[1]

Case
Number
 Legal Entity Institution Type of Account 
Account
Number[2]
 Ending Bank Balance
 20-22476 Frontier Communications Corporation JPMorgan Asset Management Money Market Fund x1091 $ 751,000,000
 20-22495 Frontier Communications ILEC Holdings LLC JPMorgan Asset Management Money Market Fund x4650 525,265,991
 20-22476 Frontier Communications Corporation Wells Fargo Bank, N.A. Money Market Fund x6390 484,532,452
 20-22476 Frontier Communications Corporation JPMorgan Chase Bank, N.A. Restricted Cash x0413 48,789,520
 20-22476 Frontier Communications Corporation JPMorgan Chase Bank, N.A. Primary Concentration x1846 6,151,396
 20-22476 Frontier Communications Corporation HSBC Bank USA, N.A. Sub-Concentration x6485 25,377,444
 20-22476 Frontier Communications Corporation Fifth Third Bank Sub-Concentration & Collection x3292 13,541,371
 20-22476 Frontier Communications Corporation HSBC Bank USA, N.A. Disbursement x9737 5,000,493
 20-22476 Frontier Communications Corporation HSBC Bank USA, N.A. Disbursement x5392 1,170,485
 20-22476 Frontier Communications Corporation HSBC Bank USA, N.A. Disbursement x3446 3,614,621
 20-22495 Frontier Communications ILEC Holdings LLC JPMorgan Chase Bank, N.A. Collection x1087 808,933
 20-22476 Frontier Communications Corporation JPMorgan Chase Bank, N.A. Disbursement x9544 587,605
 20-22476 Frontier Communications Corporation JPMorgan Chase Bank, N.A. Disbursement x6388 267,181
 20-22501 Citizens Telecom Services Company L.L.C. HSBC Bank USA, N.A. Collection x8011 200,522
 20-22577 Total Communications, Inc. TD Bank, N.A. Local / Sub-Concentration x9625 552,299
 20-22476 Frontier Communications Corporation JPMorgan Chase Bank, N.A. Disbursement x9551 100,998
 20-22476 Frontier Communications Corporation JPMorgan Chase Bank, N.A. Disbursement x9536 41,511
 20-22501 Citizens Telecom Services Company L.L.C. Wells Fargo Bank, N.A. Sub-Concentration & Collection x6027 77,486
 20-22476 Frontier Communications Corporation HSBC Bank USA, N.A. Disbursement x5406 50,471
 20-22501 Citizens Telecom Services Company L.L.C. HSBC Bank USA, N.A. Collection x9765 50,943
 20-22476 Frontier Communications Corporation JPMorgan Chase Bank, N.A. Disbursement x9569 32,780
 20-22563 Frontier Services Corp. JPMorgan Chase Bank, N.A. Local / Captive Insurance x7809 25,850
 20-22476 Frontier Communications Corporation HSBC Bank USA, N.A. Collection x5870 20,743
 20-22507 Frontier Telephone Of Rochester, Inc. HSBC Bank USA, N.A. Collection x7702 20,885
 20-22501 Citizens Telecom Services Company L.L.C. PNC Bank, N.A. Sub-Concentration & Collection x0723 18,765
 20-22518 Frontier Communications Of Wisconsin LLC Associated Bank, N.A. Local / Depository x2166 35,348
 20-22501 Citizens Telecom Services Company L.L.C. Associated Bank, N.A. Local / Depository x2071 6,703
 20-22501 Citizens Telecom Services Company L.L.C. Norwich Telops Federal Credit Union Local / Depository x4523 5,349
 20-22501 Citizens Telecom Services Company L.L.C. JPMorgan Chase Bank, N.A. Collection x7638 9,437
 20-22501 Citizens Telecom Services Company L.L.C. JPMorgan Chase Bank, N.A. Collection x2529 -
 20-22476 Frontier Communications Corporation BlackRock Investments, Inc. Money Market Fund x2605 -
 20-22476 Frontier Communications Corporation Deutsche Bank – DWS Money Market Fund x2495 -
 20-22476 Frontier Communications Corporation Deutsche Bank AG Local / Restricted Cash x0024 -
 20-22501 Citizens Telecom Services Company L.L.C. Fifth Third Bank Collection x7963 -
 20-22501 Citizens Telecom Services Company L.L.C. Fifth Third Bank Collection x3872 -
 20-22501 Citizens Telecom Services Company L.L.C. Fifth Third Bank Collection x0349 -
 20-22501 Citizens Telecom Services Company L.L.C. Fifth Third Bank Collection x2523 -
 20-22501 Citizens Telecom Services Company L.L.C. Fifth Third Bank Collection x2531 -
 20-22476 Frontier Communications Corporation Goldman Sachs & Co Money Market Fund x8515 -
 20-22501 Citizens Telecom Services Company L.L.C. JPMorgan Chase Bank, N.A. Collection x8819 -
 20-22576 The Southern New England Telephone Company JPMorgan Chase Bank, N.A. Local / Reserved x8119 -
 20-22501 Citizens Telecom Services Company L.L.C. JPMorgan Chase Bank, N.A. Collection x9829 -
 20-22501 Citizens Telecom Services Company L.L.C. JPMorgan Chase Bank, N.A. Collection x9837 -
 20-22501 Citizens Telecom Services Company L.L.C. JPMorgan Chase Bank, N.A. Collection x9845 -
 20-22501 Citizens Telecom Services Company L.L.C. JPMorgan Chase Bank, N.A. Collection x1867 -
 20-22501 Citizens Telecom Services Company L.L.C. JPMorgan Chase Bank, N.A. Collection x1913 -
 20-22501 Citizens Telecom Services Company L.L.C. JPMorgan Chase Bank, N.A. Collection x8559 -
 20-22501 Citizens Telecom Services Company L.L.C. JPMorgan Chase Bank, N.A. Collection x8674 -
 20-22501 Citizens Telecom Services Company L.L.C. JPMorgan Chase Bank, N.A. Collection x8682 -
 20-22501 Citizens Telecom Services Company L.L.C. JPMorgan Chase Bank, N.A. Collection x8751 -
 20-22476 Frontier Communications Corporation JPMorgan Chase Bank, N.A. Disbursement x6615 -
 20-22501 Citizens Telecom Services Company L.L.C. JPMorgan Chase Bank, N.A. Collection x7977 -
 20-22501 Citizens Telecom Services Company L.L.C. JPMorgan Chase Bank, N.A. Collection x8314 -
 20-22501 Citizens Telecom Services Company L.L.C. M & T Bank Sub-Concentration xxxx -
 20-22507 Frontier Telephone Of Rochester, Inc. M & T Bank Collection x2596 -
 20-22501 Citizens Telecom Services Company L.L.C. M & T Bank Collection x3596 -
 20-22476 Frontier Communications Corporation Morgan Stanley Money Market Fund x0280 -
 20-22501 Citizens Telecom Services Company L.L.C. PNC Bank, N.A. Collection x0731 -
 20-22501 Citizens Telecom Services Company L.L.C. Wells Fargo Bank, N.A. Collection x1885 -
 20-22501 Citizens Telecom Services Company L.L.C. Wells Fargo Bank, N.A. Collection x4599 -
 20-22476 Frontier Communications Corporation Deutsche Bank AG Local / Drawdown x0032 -
Total Bank Balance (incl. restricted cash)   $ 1,867,357,581


UNITED STATES BANKRUPTCY COURT
SOUTHERN DISTRICT OF NEW YORK

In re: FRONTIER COMMUNICATIONS CORPORATION, et al.
Case No.  20-22476 (RDD)
 
Reporting Period  11/1/20 - 11/30/20
 
Federal Tax I.D.  06-0619596
 
MOR-1:  BANK ACCOUNT RECONCILIATIONS[1]

Case
Number
 Legal Entity Institution Type of Account 
Account
Number[2]
 Ending Bank Balance
  
Bank-to-Book Reconciliation:
 
Total Bank Balance$ 1,867,357,581
(+) Receipts in Transit14,211,275
(-) Restricted Cash(58,321,972)
  
Cash and Cash Equivalents - Book$ 1,823,246,885



Note 1: Copies of Bank Statements and Cash Disbursement journals are available upon request.
Note 2: Accounts listed as “xxxx” have account numbers of 6 or fewer digits and have been excluded for confidentiality purposes.


UNITED STATES BANKRUPTCY COURT
SOUTHERN DISTRICT OF NEW YORK

In re: FRONTIER COMMUNICATIONS CORPORATION, et al.
Case No.  20-22476 (RDD)
 
Reporting Period  11/1/20 - 11/30/20
 
Federal Tax I.D.  06-0619596

MOR-2:  STATEMENT OF OPERATIONS (UNAUDITED)
($ 000s)  
   
  11/1/20 - 11/30/20
   
Revenue $ 565,795
   
Cost of Services (66,766)
Other O&M Expenses (247,681)
Taxes Other Than Income (18,813)
Total Operating & Maintenance Expense ($ 333,259)
   
Depreciation and Amortization (129,927)
Other Income (Loss) (85,420)
Income from Operations $ 17,188
   
Interest Expense (35,336)
Income Taxes (10,046)
Net Income ($ 28,194)


UNITED STATES BANKRUPTCY COURT
SOUTHERN DISTRICT OF NEW YORK

In re: FRONTIER COMMUNICATIONS CORPORATION, et al.
Case No.  20-22476 (RDD)
 
Reporting Period  11/1/20 - 11/30/20
 
Federal Tax I.D.  06-0619596

MOR-3:  BALANCE SHEET (UNAUDITED)  
($ 000s)  
  As of 11/30/20
Current Assets:
  
Cash and Cash Equivalents $ 71,954
Temporary Investments 1,751,293
Accounts Receivable, Net 563,772
Prepayments 96,688
Other Current Assets 197,599
Total Current Assets $ 2,681,306
   
Property, Plant, & Equipment, Net 12,907,262
   
Other Assets:
  
Goodwill (0)
Intangibles 702,660
Notes Receivable -
Unamortized Debt Issuance Costs -
Restricted Cash 44,758
Other Deferred Debits 116,967
Receivable from Associated Companies -
Investment in Associated Companies (0)
Other Assets 353,433
Total Assets $ 16,806,386
   
Current Liabilities:
  
Total Accounts Payable 528,993
Current Portion of Long-Term Debt 2,080,490
Advanced Billing 205,291
Customers’ Deposits 5,797
Interest Accrued 25,333
Accrued Taxes 291,849
Current Pension & OPEB Liabilities 42,853
Other Current & Accr Liabilities 302,996
Total Current Liabilities $ 3,483,603
   
Other Liabilities:
  
Customer Advances for Construction 7,130
Other Payables 346,519
Deferred Income Taxes 298,991
Other Deferred Credits 29,499
Long Term Pension & OPEB Liabilities 2,294,032
Payables to Associated Companies -
Advances from Associated Companies 0
Other Long-Term Debt[1]
 3,654,138
Contributions in Aid of Construction 13,896
Liabilities Subject to Compromise[2]
 11,609,485
Total Liabilities $ 21,737,293
   
Equity:
  
Common Stock Series B 26,506
Preferred Stock -
Additional Paid In Capital 4,790,167
Net Retained Earnings (8,940,171)
Unrealized Gain (Loss) (821,174)
Reduction to Equity 28,071
Treasury  Stock (14,306)
Total Equity ($ 4,930,907)
   
Total Liability & Equity $ 16,806,386


 
Note 1: Includes $1,150 million aggregate principal amount of 5.875% DIP First Lien Secured Notes due 2027, a $625 million DIP revolving facility (undrawn) and a $500 million DIP term loan facility.  Determination of Current / Long-Term portions is under review and subject to change.

Note 2: The Debtors are currently working with their independent auditor to determine the proper balance and reporting for Liabilities Subject to Compromise. Once determined, certain liabilities are likely to be reclassified to/from Current and Other Liabilities to/from Liabilities Subject to Compromise.


UNITED STATES BANKRUPTCY COURT
SOUTHERN DISTRICT OF NEW YORK

In re: FRONTIER COMMUNICATIONS CORPORATION, et al.
Case No.  20-22476 (RDD)
 
Reporting Period  11/1/20 - 11/30/20
 
Federal Tax I.D.  06-0619596

MOR-4:  STATUS OF POST-PETITION TAXES

Office of the US Trustee:

Re: Monthly Operating Report Attestation Regarding Post Petition Taxes

The Debtors, Frontier Communications Corporation, and its affiliate Debtors hereby submit this attestation regarding post petition taxes. All post petition taxes, which are not subject to dispute or reconciliation, are current. There are no material disputes or reconciliations.

/s/ Sheldon L. Bruha December 18th, 2020 
Signature Date 

Sheldon L. Bruha, Executive Vice President and CFO
 

UNITED STATES BANKRUPTCY COURT
SOUTHERN DISTRICT OF NEW YORK

In re: FRONTIER COMMUNICATIONS CORPORATION, et al.
Case No.  20-22476 (RDD)
 
Reporting Period  11/1/20 - 11/30/20
 
Federal Tax I.D.  06-0619596

MOR-4:  SUMMARY OF UNPAID POST-PETITION DEBTS[1][2]
($ 000s)            
             
Post-Petition Debts Current 1 - 30 31 - 60 61 - 90 90+ Total
Trade Accounts Payable[3]
 $ 160,704 $ 4,349 $ 1,420 $ 25 $ 49 $ 166,547
Other Accruals 362,446         362,446
Total Accounts Payable $ 523,149 $ 4,349 $ 1,420 $ 25 $ 49 $ 528,993
             
Advanced Payments and Customer Deposits 211,088         211,088
Interest Accrued 25,333         25,333
Taxes Accrued 291,849         291,849
Other Current & Accr Liabilities 302,996         302,996
Other Payables - Long Term 346,519         346,519
             
Total $ 1,354,416 $ 4,349 $ 1,420 $ 25 $ 49 $ 1,706,778

Note 1: Excludes Long-Term Debt, Pension and OPEB, as well as other deferrals.

Note 2: The Debtors are currently working with their independent auditor to determine the proper balance and reporting for Liabilities Subject to Compromise. Once determined, certain liabilities are likely to be reclassified to/from Current and Other Liabilities to/from Liabilities Subject to Compromise.

Note 3: Amounts reflected as past due pertain to invoices which are being evaluated by the Debtors.  Once evaluation is complete, these invoices will be paid or reclassified as pre-petition liabilities.


UNITED STATES BANKRUPTCY COURT
SOUTHERN DISTRICT OF NEW YORK
 
In re: FRONTIER COMMUNICATIONS CORPORATION, et al.
Case No.  20-22476 (RDD)
 
Reporting Period  11/1/20 - 11/30/20
 
Federal Tax I.D.  06-0619596

MOR-5:  ACCOUNTS RECEIVABLE AGING
($ 000s)          
           
  Current 31 - 60 61 - 90 90+ Total
Gross Receivables $ 414,494 $ 68,502 $ 25,451 $ 183,642 $ 692,089
Less: Allowances and Reserves       (128,316) (128,316)
           
Net Receivable Balance $ 414,494 $ 68,502 $ 25,451 $ 55,325 $ 563,772


UNITED STATES BANKRUPTCY COURT
SOUTHERN DISTRICT OF NEW YORK

In re: FRONTIER COMMUNICATIONS CORPORATION, et al.
Case No.  20-22476 (RDD)
 
Reporting Period  11/1/20 - 11/30/20
 
Federal Tax I.D.  06-0619596

MOR-6:  PAYMENTS TO INSIDERS[1]
Insider Name Title 
Type of
Payment
 
Amount Paid
During Period
 
Total Paid
to Date
Bernard Han President & CEO Compensation $ 775,508 $ 2,760,594
Bernard Han President & CEO Expense Reimbursement - 8,155
John Lass[2]
 EVP, Chief Transformation Officer Compensation n/a 924,141
John Lass EVP, Chief Transformation Officer Expense Reimbursement n/a 7,389
Steve Gable EVP, Chief Technology Officer Compensation 254,537 952,294
Kenneth Arndt EVP, Chief Operations Officer Compensation 266,920 1,007,500
Mark Nielsen EVP, Chief Legal Officer & Chief Transaction Officer
 Compensation 305,168 1,233,435
Elisa Bannon-Jones[2]
 EVP, Chief HR Officer Compensation n/a 667,537
Sheldon Bruha EVP, Chief Financial Officer Compensation 234,817 894,795
Giovanni Maduri[2]
 EVP, Chief Customer Officer Compensation n/a 1,169,065
Robert Schriesheim Director Fees - 1,090,000
Kevin Beebe Director Fees - 300,000
Mohsin Meghji Director Fees - 300,000
Paul Keglevic Director Fees - 300,000
Diana Ferguson Director Fees - 117,500
Edward Fraioli Director Fees - 120,000
Pamela Reeve Director Fees - 195,000
Peter Bynoe Director Fees - 115,000
John Stratton Board Observer Fees - 259,341
Patrick Bartels Board Observer Fees - 259,341
         
Total Payments to Insiders     $ 1,836,950 $ 12,681,088


 
Note 1: Appearance on this Schedule does not constitute admission that the individual is an Insider.  The parties identified as “insiders” have been included for informational purposes only. The inclusion of a party as an “insider” herein is not an acknowledgement or concession that such party is an insider under any applicable law. The payments to insiders disclosed herein only reflect payments made during the reporting period including payments made on account of prepetition obligations pursuant to the relief granted under the First Day Motions.

Note 2: Payments to these individuals in prior periods include severance.


UNITED STATES BANKRUPTCY COURT
SOUTHERN DISTRICT OF NEW YORK

In re: FRONTIER COMMUNICATIONS CORPORATION, et al.
Case No.  20-22476 (RDD)
 
Reporting Period  11/1/20 - 11/30/20
 
Federal Tax I.D.  06-0619596

MOR-6:  PAYMENTS TO RETAINED PROFESSIONALS[1]

Retained Professional Role 
Amount Paid
During Period
 
Total Paid
to Date
Kirkland & Ellis LLP Debtor Restructuring Counsel $ 5,771,721 $ 16,864,336
FTI Consulting, Inc. Debtor Financial Advisor - 11,334,518
Communications Media Advisors, LLC Debtor Technical Advisor 1,455,851 5,051,974
Delta Partners Debtor Technical Advisor - 1,295,324
Evercore Group L.L.C. Debtor Investment Banker 21,089,822 21,089,822
Ernst & Young Debtor Tax Advisor 304,903 773,965
KPMG Debtor Tax Advisor 175,465 3,424,773
Prime Clerk Claims Agent 216,863 6,751,558
PwC Debtor Tax Advisor 169,336 169,336
Wilkinson Barker Knauer Debtor Regulatory Counsel 126,584 349,543
Willkie Farr Debtor Conflicts Counsel - -
Deloitte Debtor Tax Advisor - -
Cravath, Swaine & Moore LLP Debtor Divestiture Counsel 50,626 200,013
Kramer Levin Naftalis & Frankel LLP UCC Counsel 1,040,654 4,033,108
Alvarez & Marsal North America, LLC UCC Financial Advisor 298,070 1,231,556
UBS Securities LLC UCC Investment Banker 214,839 553,656
       
Total Payments to Retained Professionals   $ 30,914,733 $ 73,123,482


 
Note 1: Includes all professionals with approved or pending retention applications.


UNITED STATES BANKRUPTCY COURT
SOUTHERN DISTRICT OF NEW YORK

In re: FRONTIER COMMUNICATIONS CORPORATION, et al.
Case No.  20-22476 (RDD)
 
Reporting Period  11/1/20 - 11/30/20
 
Federal Tax I.D.  06-0619596

MOR-7:  DEBTOR QUESTIONNAIRE
  Answer
Question Yes No
Have any assets been sold or transferred outside the normal course of business this reporting period?   X
Have any funds been disbursed from any account other than a debtor in possession account this reporting period?   X
Is the Debtor delinquent in the timely filing of any post-petition tax returns?   X
Are workers compensation, general liability or other necessary insurance coverages expired or cancelled, or has the debtor received notice of expiration or cancellation of such policies?   X
Is the Debtor delinquent in paying any insurance premium payment?   X
Have any payments been made on pre-petition liabilities this reporting period? 
X[1]
  
Are any post petition receivables (accounts, notes or loans) due from related parties?   
X[2]
Are any post petition payroll taxes past due?   X
Are any post petition State or Federal income taxes past due?   X
Are any post petition real estate taxes past due?   X
Are any other post petition taxes past due?   X
Have any pre-petition taxes been paid during this reporting period? 
X[1]
  
Are any amounts owed to post petition creditors delinquent?   
X[3]
Are any wage payments past due?   X
Have any post petition loans been received by the Debtor from any party? 
X[4]
  
Is the Debtor delinquent in paying any U.S. Trustee fees?   X
Is the Debtor delinquent with any court ordered payments to attorneys or other professionals?   X
Have the owners or shareholders received any compensation outside of the normal course of business?   X


 
Note 1: Pursuant to the relief requested under the various First Day Motions and their respective orders, certain payments have been made on prepetition
obligations as outlined in various motions (e.g. wages, customer programs, insurance, content, taxes & regulatory, critical vendors, lien claimants and 503(b)(9) claimants).

Note 2
: The Debtors operate a centralized cash management system which generates intercompany payable balances between the Debtor entities.  These are generated in the normal course.

Note 3
: Per MOR-4, trade payables reflected as past due pertain to invoices which are being evaluated by the Debtors.  Once evaluation is complete, these invoices will be paid or reclassified as pre-petition liabilities.

Note 4: On November 25, 2020, the Debtors issued an incremental $750M DIP term loan facility. The Debtors also issued $1.55B of DIP First Lien Secured Notes due 2028 and $1.0B of DIP Second Lien Secured Notes due 2029.