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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Revenue        
Revenue $ 6,659 $ 6,348 $ 14,088 $ 14,070
Operating Costs and Expenses        
Cost of operations (excluding depreciation and amortization shown below) 4,356 4,962 10,041 13,740
Depreciation and amortization 285 315 553 505
Impairment losses 15 0 15 0
Selling, general and administrative costs 592 522 1,183 948
Acquisition-related transaction and integration costs 6 22 15 93
Total operating costs and expenses 5,254 5,821 11,807 15,286
Gain on sale of assets 5 3 1 202
Operating Income/(Loss) 1,410 530 2,282 (1,014)
Other Income/(Expense)        
Equity in earnings of unconsolidated affiliates 4 5 7 10
Other income, net 3 13 33 29
Loss on debt extinguishment (202) 0 (260) 0
Interest expense (163) (151) (315) (299)
Total other expense (358) (133) (535) (260)
Income/(Loss) Before Income Taxes 1,052 397 1,747 (1,274)
Income tax expense/(benefit) 314 89 498 (247)
Net Income/(Loss) 738 308 1,249 (1,027)
Less: Cumulative dividends attributable to Series A Preferred Stock 17 17 34 21
Net Income/(Loss) Available to Common Stockholders, basic 721 291 1,215 (1,048)
Net Income/(Loss) Available to Common Stockholders, diluted $ 721 $ 291 $ 1,215 $ (1,048)
Income/(Loss) per Share        
Weighted average number of common shares outstanding — basic (in shares) 208,000 231,000 209,000 230,000
Income/(Loss) per Weighted Average Common Share — Basic (in usd per share) $ 3.47 $ 1.26 $ 5.81 $ (4.56)
Weighted average number of common shares outstanding — diluted (in shares) 214,000 232,000 214,000 230,000
Income/(Loss) per Weighted Average Common Share — Diluted (in usd per share) $ 3.37 $ 1.25 $ 5.68 $ (4.56)