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CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
OPERATING REVENUE        
Total operating revenue $ 1,363 $ 1,450 $ 4,144 $ 4,458
OPERATING EXPENSES        
Cost of services and products (exclusive of depreciation and amortization) 389 416 1,132 1,207
Selling, general and administrative 111 118 357 362
Operating expenses—affiliates 182 225 575 600
Depreciation and amortization 183 207 557 607
Total operating expenses 865 966 2,621 2,776
OPERATING INCOME 498 484 1,523 1,682
OTHER (EXPENSE) INCOME        
Interest expense, net (11) (23) (44) (75)
Other income, net 2 1 1 5
Total other expense, net (1) (17) (29) (63)
INCOME BEFORE INCOME TAX EXPENSE 497 467 1,494 1,619
Income tax expense 132 126 398 426
NET INCOME 365 341 1,096 1,193
Affiliated entity        
OTHER (EXPENSE) INCOME        
Interest income—affiliate, net 8 5 14 7
Non-affiliate services        
OPERATING REVENUE        
Total operating revenue 793 924 2,468 2,869
Affiliate services        
OPERATING REVENUE        
Total operating revenue $ 570 $ 526 $ 1,676 $ 1,589