I see lots of good advice about how guitars can be damaged from excessive heat, humidity, or dryness, and from sudden temperature changes. But what about cold, in and of itself?

Specifically, I'm wondering about a guitar being out in sub-freezing weather. I can speculate that if it's cold enough, residual moisture in the instrument could crystallize into ice and break the wood fibers. Does anyone know if something like this could actually happen? Or are there any other concerns about exposure to intense cold?