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CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
OPERATING REVENUE        
Total operating revenue $ 1,389 $ 1,467 $ 2,781 $ 3,008
OPERATING EXPENSES        
Cost of services and products (exclusive of depreciation and amortization) 373 404 743 791
Selling, general and administrative 118 116 246 244
Operating expenses—affiliates 181 184 393 375
Depreciation and amortization 187 203 374 400
Total operating expenses 859 907 1,756 1,810
OPERATING INCOME 530 560 1,025 1,198
OTHER (EXPENSE) INCOME        
Interest expense (14) (25) (33) (52)
Other (expense) income, net (2) 3 (1) 4
Total other expense, net (12) (21) (28) (46)
INCOME BEFORE INCOME TAX EXPENSE 518 539 997 1,152
Income tax expense 140 141 266 300
NET INCOME 378 398 731 852
Affiliated entity        
OTHER (EXPENSE) INCOME        
Interest income - affiliate, net 4 1 6 2
Non-affiliate services        
OPERATING REVENUE        
Total operating revenue 829 964 1,675 1,945
Affiliate services        
OPERATING REVENUE        
Total operating revenue $ 560 $ 503 $ 1,106 $ 1,063