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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Revenue      
Revenue $ 30,713 $ 28,130 $ 28,823
Operating Costs and Expenses      
Cost of operations (excluding depreciation and amortization shown below) 24,761 22,100 26,483
Depreciation and amortization 1,406 1,403 1,295
Impairment losses 0 36 26
Selling, general and administrative costs (excluding amortization of customer acquisition costs of $295, $204 and $125, respectively, which are included in depreciation and amortization shown separately above) 2,602 2,345 2,094
Acquisition-related transaction and integration costs 74 30 119
Total operating costs and expenses 28,843 25,914 30,017
(Loss)/Gain on sale of assets (25) 208 1,578
Operating Income 1,845 2,424 384
Other Income/(Expense)      
Equity in earnings of unconsolidated affiliates 11 20 16
Impairment losses on investments (39) (7) (102)
Other income, net 68 44 47
(Loss)/Gain on debt extinguishment (10) (382) 109
Interest expense (741) (651) (667)
Total other expense (711) (976) (597)
Income/(Loss) Before Income Taxes 1,134 1,448 (213)
Income tax expense/(benefit) 270 323 (11)
Net Income/(Loss) 864 1,125 (202)
Less: Cumulative dividends attributable to Series A Preferred Stock 67 67 54
Net Income/(Loss) Available for Common Stockholders 797 1,058 (256)
Net Income/(Loss) Available for Common Stockholders $ 797 $ 1,058 $ (256)
Income/(Loss) Per Share      
Weighted average number of common shares outstanding — basic (in shares) 195,000 206,000 228,000
Weighted average number of common shares outstanding — diluted (in shares) 199,000 212,000 228,000
Income/(Loss) per Weighted Average Common Share - Basic (in usd per share) $ 4.09 $ 5.14 $ (1.12)
Income/(Loss) per weighted average common share — diluted (in usd per share) $ 4.01 $ 4.99 $ (1.12)