LUMN — what changed in the latest 10-Q
A section-by-section comparison of LUMN's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-08-04 vs the prior 10-Q · 2026-05-05
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +45 | −37 | ~22 | 100 |
| Market risk (Item 3) | Text added/removed | 0 | 0 | ~3 | 1 |
| Controls & procedures | Text added/removed | 0 | 0 | ~3 | 1 |
| Legal proceedings | No paragraph-level changes | 0 | 0 | 0 | 1 |
| Risk factors | Some risk factors updated | 0 | 0 | ~2 | 16 |
| Other information | Text added/removed | 0 | 0 | ~1 | 0 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-08-04
•create a more adaptive, programmable and integrated network;
On May 4, 2026, our wholly owned subsidiary, Level 3 Communications, entered into an agreement and plan of merger to acquire Alkira for $487 million in cash, subject to customary adjustments. The transaction closed on July 1, 2026.
For further information on our divestiture or acquisition, see Note 2—Divestiture and Acquisition.
Three Months Ended June 30,% ChangeSix Months Ended June 30,% Change
Operating revenue decreased $287 million and $570 million. The following were primary drivers within each revenue category:
Text removed vs the prior filing · source: 10-Q · 2026-05-05
As of March 31, 2026, we had approximately 21,000 employees.
Operating revenue decreased $283 million. The following were primary drivers within each revenue category:
•Strategic revenue increased $107 million. This was primarily as a result of:
◦an increase of $71 million in revenue from dark fiber and conduit; and
•Legacy revenue decreased $187 million. This was primarily as a result of:
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice