Segment Information (Tables)

6 Months Ended

Jun. 30, 2024

The following tables summarize our segment results for the three and six months ended June 30, 2024 and 2023, based on the segment categorization we were operating under at June 30, 2024.


	Three Months Ended June 30, 2024			Six Months Ended June 30, 2024
	Business		Mass Markets	Business	Mass Markets
	(Dollars in millions)
Segment revenue	$	2,577	691	5,168	1,390
Segment expenses:
Cost of services and products	761		20	1,500	37
Selling, general and administrative	457		308	954	614
Total segment expense	1,218		328	2,454	651
Total segment adjusted EBITDA	$	1,359	363	2,714	739


	Three Months Ended June 30, 2023			Six Months Ended June 30, 2023
	Business		Mass Markets	Business	Mass Markets
	(Dollars in millions)
Segment revenue	$	2,908	753	5,876	1,523
Segment expenses:
Cost of services and products	773		21	1,603	42
Selling, general and administrative	570		339	1,113	674
Total segment expense	1,343		360	2,716	716
Total segment adjusted EBITDA	$	1,565	393	3,160	807

Schedule of Reconciliation of Segment Adjusted EBITDA to Net (Loss) Income

The following table reconciles total segment adjusted EBITDA to net (loss) income for the three and six months ended June 30, 2024 and 2023:


	Three Months Ended June 30,			Six Months Ended June 30,
	2024		2023	2024	2023
	(Dollars in millions)
Total segment adjusted EBITDA	$	1,722	1,958	3,453	3,967
Depreciation and amortization	(743)		(746)	(1,491)	(1,479)
Goodwill impairment	—		(8,793)	—	(8,793)
Other unallocated expense	(847)		(831)	(1,771)	(1,703)
Stock-based compensation credit (expense)	3		(9)	(11)	(23)
Operating income (loss)	135		(8,421)	180	(8,031)
Total other (expense) income, net	(176)		(269)	(119)	21
(Loss) income before taxes	(41)		(8,690)	61	(8,010)
Income tax expense	8		46	53	215
Net (loss) income	$	(49)	(8,736)	8	(8,225)