52 unchanged sentences
Stankey Pascal Desroches
−Removed: Chief Executive Officer
−Removed: and President Senior Executive Vice President
+Added: Chairman of the Board,
+Added: Chief Executive Officer and President
+Added: Senior Executive Vice President
and Chief Financial Officer
40 unchanged sentences
Estimating fair value in connection with the impairment evaluation involves the utilization of discounted cash flow and market multiple approaches.
−Removed: Auditing management’s annual goodwill impairment test for the Consumer Wireline reporting unit was complex because the estimation of fair value involves subjective management assumptions, such as the projected terminal growth rate, projected long-term EBITDA margin, and weighted average cost of capital, and complex valuation methodologies, such as the discounted cash flow and market multiple approaches.
+Added: Auditing management’s annual goodwill impairment test for the Consumer Wireline reporting unit was complex because the estimation of fair value involves subjective management assumptions, such as the projected long-term EBITDA margin and weighted average cost of capital, and complex valuation methodologies, such as the discounted cash flow and market multiple approaches.
Assumptions used in these valuation models are forward-looking, and changes in these assumptions can have a material effect on the determination of fair value.
3 unchanged sentences
Our procedures included testing controls over management’s review of the valuation models and its determination of the significant assumptions described above.
−Removed: Our audit procedures to test management’s impairment evaluations included, among others, assessing the valuation methodologies and significant assumptions discussed above and the underlying data used to develop such assumptions.
+Added: Our audit procedures to test management’s impairment evaluation included, among others, assessing the valuation methodologies and significant assumptions discussed above and the underlying data used to develop such assumptions.
For example, we compared the significant assumptions to current industry, market and economic trends, and other guideline companies in the same industry.
34 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.