Loading...
Docoh

Frontier Communications Parent (FYBR)

Filed: 20 May 21, 4:42pm

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  4/1/21- 4/30/21

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 May 20th, 2021
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  4/1/21- 4/30/21
 
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, LLC 20-22543
Citizens Directory Services Company L.L.C. 20-22478 Frontier Communications Of Iowa, LLC 20-22545
Citizens Louisiana Accounting Company 20-22479 Frontier Communications Of Lakeside, Inc. 20-22550
Citizens Newcom Company 20-22480 Frontier Communications Of Lakewood, LLC 20-22554
Citizens Newtel, LLC 20-22486 Frontier Communications Of Michigan, Inc. 20-22558
Citizens Pennsylvania Company LLC 20-22493 Frontier Communications Of Minnesota, Inc. 20-22561
Citizens SERP Administration Company 20-22497 Frontier Communications Of Mississippi LLC 20-22564
Citizens Telecom Services Company L.L.C. 20-22501 Frontier Communications Of Mt. Pulaski, Inc. 20-22567
Citizens Telecommunications Company  Of Minnesota, LLC 20-22519 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 Illinois 20-22514 Frontier Communications Of Oswayo River LLC 20-22482
Citizens Telecommunications Company Of Nebraska 20-22528 Frontier Communications Of Pennsylvania, LLC 20-22485
Citizens Telecommunications Company Of Nebraska LLC 20-22532 Frontier Communications Of Rochester, Inc. 20-22489
Citizens Telecommunications Company Of Nevada 20-22539 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 LLC 20-22498
Citizens Telecommunications Company Of The White Mountains, Inc. 20-22481 Frontier Communications Of The South, LLC 20-22503
Citizens Telecommunications Company Of Utah 20-22487 Frontier Communications Of The Southwest Inc. 20-22505
Citizens Telecommunications Company Of West Virginia 20-22492 Frontier Communications Of Thorntown, LLC 20-22509
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 LLC 20-22518
Commonwealth Communication, LLC 20-22504 Frontier Communications Online And Long Distance Inc. 20-22522
Commonwealth Telephone Company LLC 20-22512 Frontier Communications Services Inc. 20-22527
Commonwealth Telephone Enterprises LLC 20-22516 Frontier Directory Services Company, LLC 20-22533
Commonwealth Telephone Management Services, Inc. 20-22521 Frontier Florida LLC 20-22537
CTE Holdings, Inc. 20-22526 Frontier Infoservices Inc. 20-22540
CTE Services, Inc. 20-22531 Frontier Midstates Inc. 20-22549
CTE Telecom, LLC 20-22536 Frontier Mobile LLC 20-22551
CTSI, LLC 20-22541 Frontier North Inc. 20-22556
CU Capital LLC 20-22546 Frontier Security Company 20-22560
CU Wireless Company LLC 20-22552 Frontier Services Corp. 20-22563
Electric Lightwave NY, LLC 20-22557 Frontier Southwest Incorporated 20-22484
Evans Telephone Holdings, Inc. 20-22562 Frontier Subsidiary Telco LLC 20-22490
Fairmount Cellular LLC 20-22566 Frontier Techserv, Inc. 20-22499
Frontier ABC LLC 20-22570 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 Services 20-22530
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 Corporation 20-22476 Newco West Holdings LLC 20-22548
Frontier Communications ILEC Holdings LLC 20-22495 Ogden Telephone Company 20-22555
Frontier Communications Of America, Inc. 20-22506 Phone Trends, Inc. 20-22475
Frontier Communications Of Ausable Valley, Inc. 20-22511 Rhinelander Telecommunications, LLC 20-22559
Frontier Communications Of Breezewood, LLC 20-22517 Rib Lake Cellular For Wisconsin RSA #3, Inc. 20-22565
Frontier Communications Of Canton, LLC 20-22520 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 LLC 20-22575
Frontier Communications Of Georgia LLC 20-22534 The Southern New England Telephone Company 20-22576
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 Idaho 20-22510
Citizens Telecommunications Company Of Oregon 20-22547 Citizens Telecommunications Company Of Montana 20-22523


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 4/1/21- 4/30/21
 
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.                          466,333,981                          466,309,648
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                          820,781,108                          651,498,777
20-22495 Frontier Communications ILEC Holdings LLC                                            -                                            -
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.                                            -                                            -
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                                   49,733                                   42,108
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.                              2,624,560                              2,624,000
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.                              1,880,240                              2,562,343
       
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                      $ 1,291,669,621                    $ 1,123,036,875


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 4/1/21- 4/30/21
  
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            $ 2,164,025,417
 20-22476 Frontier Communications Corporation Wells Fargo Bank, N.A. Money Market Fund x6390                      9,532,452
 20-22476 Frontier Communications Corporation JPMorgan Chase Bank, N.A. Restricted Cash x0413                    48,795,561
 20-22476 Frontier Communications Corporation JPMorgan Chase Bank, N.A. Primary Concentration x1846                    66,518,394
 20-22476 Frontier Communications Corporation HSBC Bank USA, N.A. Sub-Concentration x6485                    18,895,614
 20-22476 Frontier Communications Corporation Fifth Third Bank Sub-Concentration & Collection x3292                      6,096,616
 20-22476 Frontier Communications Corporation HSBC Bank USA, N.A. Disbursement x9737                      5,000,702
 20-22476 Frontier Communications Corporation HSBC Bank USA, N.A. Disbursement x5392                      2,654,105
 20-22476 Frontier Communications Corporation HSBC Bank USA, N.A. Disbursement x3446                      2,347,580
 20-22476 Frontier Communications Corporation JPMorgan Chase Bank, N.A. Disbursement x9544                         379,408
 20-22476 Frontier Communications Corporation JPMorgan Chase Bank, N.A. Disbursement x6388                         254,222
 20-22501 Citizens Telecom Services Company L.L.C. HSBC Bank USA, N.A. Collection x8011                         200,499
 20-22577 Total Communications, Inc. TD Bank, N.A. Local / Sub-Concentration x9625                         124,547
 20-22476 Frontier Communications Corporation JPMorgan Chase Bank, N.A. Disbursement x9551                         100,968
 20-22476 Frontier Communications Corporation JPMorgan Chase Bank, N.A. Disbursement x9536                         100,319
 20-22501 Citizens Telecom Services Company L.L.C. Wells Fargo Bank, N.A. Sub-Concentration & Collection x6027                           66,726
 20-22476 Frontier Communications Corporation HSBC Bank USA, N.A. Disbursement x5406                           50,796
 20-22501 Citizens Telecom Services Company L.L.C. HSBC Bank USA, N.A. Collection x9765                           50,062
 20-22476 Frontier Communications Corporation JPMorgan Chase Bank, N.A. Disbursement x9569                           33,746
 20-22563 Frontier Services Corp. JPMorgan Chase Bank, N.A. Local / Captive Insurance x7809                           25,550
 20-22476 Frontier Communications Corporation HSBC Bank USA, N.A. Collection x5870                           20,953
 20-22507 Frontier Telephone Of Rochester, Inc. HSBC Bank USA, N.A. Collection x7702                           20,617
 20-22501 Citizens Telecom Services Company L.L.C. PNC Bank, N.A. Sub-Concentration & Collection x0723                           25,037
 20-22518 Frontier Communications Of Wisconsin LLC Associated Bank, N.A. Local / Depository x2166                           16,550
 20-22501 Citizens Telecom Services Company L.L.C. Associated Bank, N.A. Local / Depository x2071                             5,327
 20-22501 Citizens Telecom Services Company L.L.C. Norwich Telops Federal Credit Union Local / Depository x4523                             5,532
 20-22501 Citizens Telecom Services Company L.L.C. JPMorgan Chase Bank, N.A. Collection x7638                           13,095
 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                                   -
 20-22501 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 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                                   -
 20-22476 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                                   -
 20-22476 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)                  $ 2,325,360,396


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                  $ 2,325,360,396
(+) Receipts in Transit                            6,411,736
(-) Cash Sweep in Transit                   (1,313,000,000)
(-) Restricted Cash                        (58,328,013)
         
Cash and Cash Equivalents - Book                   $ 960,444,119


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 4/1/21- 4/30/21
 
Federal Tax I.D. 06-0619596

MOR-2:  STATEMENT OF OPERATIONS (UNAUDITED)
($ 000s)  
   
  4/1/21 - 4/30/21
   
Revenue                   $ 555,338
   
Cost of Services                      (66,307)
Other O&M Expenses                    (263,116)
Taxes Other Than Income                      (11,709)
   
Total Operating & Maintenance Expense                 ($ 341,133)
   
Depreciation and Amortization                    (119,364)
Other Income (Loss)                      (41,359)
   
Income from Operations                     $ 53,481
   
Interest Expense                      (29,422)
Income Taxes                      (18,924)
   
Net Income                       $ 5,135
   
Note 1: Frontier Communications Parent, Inc., the successor to Frontier Communications Corporation, intends to include financial statements reflecting fresh start accounting with its Quarterly Report for the period ended June 30, 2021.


UNITED STATES BANKRUPTCY COURT
SOUTHERN DISTRICT OF NEW YORK

In re: FRONTIER COMMUNICATIONS CORPORATION, et al.
Case No.  20-22476 (RDD)
 
Reporting Period 4/1/21- 4/30/21
 
Federal Tax I.D.  06-0619596

MOR-3:  BALANCE SHEET (UNAUDITED) 
($ 000s) 
 As of 4/30/21
Current Assets:
 
Cash and Cash Equivalents$ 109,416
Temporary Investments                        851,028
Accounts Receivable, Net                              516,359
Prepayments                                92,145
Other Current Assets                              134,786
  
Total Current Assets                        $ 1,703,734
  
Property, Plant, & Equipment, Net                         13,020,300
  
Other Assets:
 
Goodwill                                        -
Intangibles                              578,307
Notes Receivable                                        -
Unamortized Debt Issuance Costs                                        -
Restricted Cash                                58,316
Other Deferred Debits                              113,131
Receivable from Associated Companies                                         0
Investment in Associated Companies                                       (0)
Other Assets                              354,292
  
Total Assets                      $ 15,828,081
  
Current Liabilities:
 
Total Accounts Payable                              519,731
Current Portion of Long-Term Debt                           6,002,845
Advanced Billing                              207,585
Customers’ Deposits                                  5,083
Interest Accrued                                80,930
Accrued Taxes                              230,287
Current Pension & OPEB Liabilities                                47,982
Other Current & Accr Liabilities                              284,835
  
Total Current Liabilities                        $ 7,379,280
  
Other Liabilities:
 
Customer Advances for Construction                                  5,762
Other Payables                              394,082
Deferred Income Taxes                              410,775
Other Deferred Credits                                29,273
Long Term Pension & OPEB Liabilities                           2,162,799
Payables to Associated Companies                                         0
Advances from Associated Companies                                        -
Other Long-Term Debt                                        -
Contributions in Aid of Construction                                10,951
Liabilities Subject to Compromise                         11,568,049
  
Total Liabilities                      $ 21,960,971
  
Equity:
 
Common Stock Series B                                26,506
Preferred Stock                                        -
Additional Paid In Capital                           4,790,167
Net Retained Earnings                       (10,223,229)
Unrealized Gain (Loss)                            (739,487)
Addition (Reduction) to Equity                                28,359
Treasury  Stock                              (15,207)
  
Total Equity                      ($ 6,132,890)
  
Total Liability & Equity                      $ 15,828,081
  
Note 1: Frontier Communications Parent, Inc., the successor to Frontier Communications Corporation, intends to include financial statements reflecting fresh start accounting with its Quarterly Report for the period ended June 30, 2021.


UNITED STATES BANKRUPTCY COURT
SOUTHERN DISTRICT OF NEW YORK

In re: FRONTIER COMMUNICATIONS CORPORATION, et al.
Case No.  20-22476 (RDD)
 
Reporting Period  4/1/21- 4/30/21
 
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 May 20th, 2021
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 4/1/21- 4/30/21
 
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]
                $ 103,027                    $3,447                    $1,420                         $18                       $146                $ 108,058
Other Accruals                   411,673                           411,673
Total Accounts Payable                $ 514,700                    $ 3,447                    $ 1,420                         $ 18                       $ 146                $ 519,731
             
Advanced Payments and Customer Deposits                   212,668                           212,668
Interest Accrued                     80,930                             80,930
Taxes Accrued                   230,287                           230,287
Other Current & Accr Liabilities                   284,835                           284,835
Other Payables - Long Term                   394,082                           394,082
             
Total             $ 1,323,421                    $ 3,447                    $ 1,420                         $ 18                       $ 146             $ 1,722,534



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  4/1/21- 4/30/21
 
Federal Tax I.D.  06-0619596

MOR-5:  ACCOUNTS RECEIVABLE AGING
($ 000s)

 Current 31 - 60 61 - 90 90+ Total
Gross Receivables               $ 396,070                  $ 51,125                  $ 26,665                $ 197,872                $ 671,731
Less: Allowances and Reserves                       (155,372)                  (155,372)
          
Net Receivable Balance               $ 396,070                  $ 51,125                  $ 26,665                  $ 42,500                $ 516,359


UNITED STATES BANKRUPTCY COURT
SOUTHERN DISTRICT OF NEW YORK

In re: FRONTIER COMMUNICATIONS CORPORATION, et al.
Case No.  20-22476 (RDD)
 
Reporting Period  4/1/21- 4/30/21
 
Federal Tax I.D.  06-0619596

MOR-6:  PAYMENTS TO INSIDERS[1]

Insider Name Title 
Type of
Payment
 
Amount Paid
During Period
 
Total Paid
Case to Date
Bernard Han Former President & CEO  Compensation                $ 141,708             $ 4,010,477
Bernard Han Former President & CEO  Expense Reimbursement                              -                       8,407
Nick Jeffery President & CEO  Compensation                   107,034                   242,920
John Lass[2]
 Former EVP, Chief Transformation Officer  Compensation  n/a                   924,141
John Lass[2]
 Former EVP, Chief Transformation Officer  Expense Reimbursement  n/a                       7,389
Steve Gable EVP, Chief Technology Officer  Compensation                     44,933                1,392,439
Kenneth Arndt EVP, Chief Operations Officer  Compensation                     50,000                1,477,720
Mark Nielsen EVP, Chief Legal Officer & Chief Transactions Officer  Compensation                     75,000                1,842,073
Elisa Bannon-Jones[2]
 Former EVP, Chief HR Officer  Compensation  n/a                   667,537
Sheldon Bruha EVP, Chief Financial Officer  Compensation                     44,933                1,314,920
Giovanni Maduri[2]
 Former EVP, Chief Customer Officer  Compensation  n/a                1,169,065
Robert Schriesheim Director  Fees                   420,000                1,930,000
Kevin Beebe Director  Fees                   150,000                   600,000
Mohsin Meghji Director  Fees                   150,000                   600,000
Paul Keglevic Director  Fees                   150,000                   600,000
Diana Ferguson Director  Fees                     58,750                   235,000
Edward Fraioli Director  Fees                     60,000                   240,000
Pamela Reeve Director  Fees                     97,500                   390,000
Peter Bynoe Director  Fees                     57,500                   230,000
John Stratton Board Observer  Fees                   100,000                   459,341
Patrick Bartels Board Observer  Fees                   100,000                   459,341
         
Total Payments to Insiders                 $ 1,807,359           $ 18,800,771


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  4/1/21- 4/30/21
 
Federal Tax I.D.  06-0619596

MOR-6:  PAYMENTS TO RETAINED PROFESSIONALS[1]
  

Retained Professional Role 
Amount Paid
During Period
 
Total Paid
Case to Date
Kirkland & Ellis LLP Debtor Restructuring Counsel             $ 4,099,222           $ 28,346,466
FTI Consulting, Inc. Debtor Financial Advisor                2,696,883              24,189,987
Communications Media Advisors, LLC Debtor Technical Advisor                1,857,953              10,357,248
Delta Partners Debtor Technical Advisor                1,382,158              10,233,214
Evercore Group L.L.C. Debtor Investment Banker                1,897,940              29,779,443
Ernst & Young Debtor Tax Advisor                1,201,475                3,391,487
KPMG Debtor Tax Advisor                2,950,171                9,866,471
Prime Clerk Claims Agent                   651,444                7,932,119
PwC Debtor Tax Advisor                              -                   398,519
Wilkinson Barker Knauer Debtor Regulatory Counsel                   199,867                   963,482
Willkie Farr Debtor Conflicts Counsel                       7,081                     43,506
Deloitte Debtor Tax Advisor                     49,931                2,785,101
Cravath, Swaine & Moore LLP Debtor Divestiture Counsel                     14,256                   396,063
Kramer Levin Naftalis & Frankel LLP UCC Counsel                     43,885                5,123,869
Alvarez & Marsal North America, LLC UCC Financial Advisor                     36,631                1,460,782
UBS Securities LLC UCC Investment Banker                     18,000                2,426,051
       
Total Payments to Retained Professionals             $ 17,106,894         $ 137,693,806


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  4/1/21- 4/30/21
 
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 April 14, 2021, the Debtors raised an incremental $225m of first lien term loans.