XO Communications 2009 Annual Report Download - page 51

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Report of Independent Registered Public Accounting Firm
The Board of Directors and Stockholders
XO Holdings, Inc.:
We have audited the accompanying consolidated balance sheet of XO Holdings, Inc., and subsidiaries as of
December 31, 2008, and the related consolidated statements of operations, stockholders’ (deficit) equity, and
cash flows for each of the years in the two-year period ended December 31, 2008. In connection with our
audits of the consolidated financial statements, we have also audited the consolidated financial statement
schedule of valuation and qualifying accounts for the two-year period ended December 31, 2008. These
consolidated financial statements and the financial statement schedule are the responsibility of the Company’s
management. Our responsibility is to express an opinion on these consolidated financial statements and the
financial statement schedule based on our audits.
We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board
(United States). Those standards require that we plan and perform the audit to obtain reasonable assurance
about whether the financial statements are free of material misstatement. An audit includes examining, on a
test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes
assessing the accounting principles used and significant estimates made by management, as well as evaluating
the overall financial statement presentation. We believe that our audits provide a reasonable basis for our
opinion.
In our opinion, the consolidated financial statements referred to above present fairly, in all material respects,
the financial position of XO Holdings, Inc. and subsidiaries as of December 31, 2008, and the results of their
operations and their cash flows for each of the years in the two-year period ended December 31, 2008, in
conformity with U.S. generally accepted accounting principles. Also in our opinion, the related financial
statement schedule for the two-year period ended December 31, 2008, when considered in relation to the basic
consolidated financial statements taken as a whole, presents fairly in all material respects, the information set
forth therein.
/s/ KPMG LLP
McLean, Virginia
March 16, 2009
47