Frontier Communications 2006 Annual Report Download - page 41

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CITIZENS COMMUNICATIONS COMPANY AND SUBSIDIARIES
EQUITY PRICE EXPOSURE
Our exposure to market risks for changes in equity prices as of December 31, 2006 is limited to our pension
assets of $770.2 million. We have no other equity investments of any material amount.
ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA
The following documents are filed as part of this Report:
1. Financial Statements, See Index on page F-1.
2. Supplementary Data, Quarterly Financial Data is included in the Financial Statements (see 1. above).
ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND
FINANCIAL DISCLOSURE
None.
ITEM 9A. CONTROLS AND PROCEDURES
(i) Disclosure Controls and Procedures
We carried out an evaluation, under the supervision and with the participation of our management,
including our principal executive officer and principal financial officer, regarding the effectiveness of the
design and operation of our disclosure controls and procedures. Based upon this evaluation, our principal
executive officer and principal financial officer concluded, as of the end of the period covered by this report,
December 31, 2006, that our disclosure controls and procedures are effective.
(ii) Internal Control Over Financial Reporting
(a) Management’s annual report on internal control over financial reporting
Our management report on internal control over financial reporting appears on page F-4.
(b) Attestation report of registered public accounting firm
The attestation report of KPMG LLP, our independent registered public accounting firm, on
management’s assessment of the effectiveness of our internal control over financial reporting appears
on page F-3.
(c) Changes in internal control over financial reporting
We reviewed our internal control over financial reporting at December 31, 2006. There has been no
change in our internal control over financial reporting during the last fiscal quarter of 2006 that
materially affected or is reasonably likely to materially affect our internal control over financial
reporting.
ITEM 9B. OTHER INFORMATION
None.
PART III
ITEM 10. DIRECTORS AND EXECUTIVE OFFICERS OF THE REGISTRANT
The information required by this Item is incorporated by reference from our definitive proxy statement for
the 2007 Annual Meeting of Stockholders to be filed with the SEC pursuant to Regulation 14A within 120 days
after December 31, 2006. See “Executive Officers of the Registrant” in Part I of this Report following Item 4 for
information relating to executive officers.
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