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Background and Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 31, 2018
Accounting Policies [Abstract]  
Schedule of New Accounting Pronouncements and Changes in Accounting Principles
The elimination of the failed leaseback will result in the following increase (decrease) to our balance sheet at January 1, 2019:
Balance Sheet
 
(Dollars in millions)
Property, plant and equipment
 
$
(409
)
Deferred rent
 
(3
)
Long-term debt
 
(558
)
Deferred income taxes
 
37

Stockholder's equity
 
115

The following tables present our reported results under ASC 606 and a reconciliation to results using the historical accounting method:
 
Year Ended December 31, 2018
 
Reported Balances
 
Impact of ASC 606
 
ASC 605
Historical Adjusted Balances
 
(Dollars in millions, except per share amounts
and shares in thousands)
Operating revenue
$
23,443

 
39

 
23,482

Cost of services and products (exclusive of depreciation and amortization)
10,862

 
22

 
10,884

Selling, general and administrative
4,165

 
71

 
4,236

Interest expense
2,177

 
(9
)
 
2,168

Income tax expense
170

 
(12
)
 
158

Net loss
(1,733
)
 
(33
)
 
(1,766
)
 
 
 
 
 
 
BASIC AND DILUTED LOSS PER COMMON SHARE
 
 
 
 
 
BASIC
$
(1.63
)
 
(0.03
)
 
(1.66
)
DILUTED
$
(1.63
)
 
(0.03
)
 
(1.66
)
WEIGHTED-AVERAGE COMMON SHARES OUTSTANDING
 
 
 
 
 
BASIC
1,065,866

 
—

 
1,065,866

DILUTED
1,065,866

 
—

 
1,065,866


The following table presents a reconciliation of certain consolidated balance sheet captions under ASC 606 to the balance sheet results using the historical accounting method:
 
As of December 31, 2018
 
Reported Balances
 
Impact of ASC 606
 
ASC 605
Historical Adjusted Balances
 
(Dollars in millions)
Other current assets
$
918

 
(172
)
 
746

Other long-term assets, net
1,060

 
(112
)
 
948

Deferred revenue
2,375

 
71

 
2,446

Deferred income taxes, net
2,395

 
(131
)
 
2,264

Other long-term liabilities
1,099

 
147

 
1,246

Accumulated deficit
(1,643
)
 
(371
)
 
(2,014
)