CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) $ in Millions	Sep. 30, 2025	Dec. 31, 2024
CURRENT ASSETS
Cash and cash equivalents	$ 36	$ 26
Accounts receivable, less allowance of $28 and $29	207	227
Assets held for sale	2,689	0
Other current assets, net	88	152
Total current assets	4,466	1,307
Property, plant and equipment, net of accumulated depreciation of $8,789 and $8,910	7,512	8,865
GOODWILL AND OTHER ASSETS
Goodwill	5,650	6,955
Intangible assets, net	103	84
Other assets, net	124	151
Total goodwill and other assets	5,877	7,190
TOTAL ASSETS	17,855	17,362
CURRENT LIABILITIES
Current maturities of long-term debt	1	239
Accounts payable	167	221
Accrued expenses and other liabilities
Salaries and benefits	130	130
Income and other taxes	113	106
Other current liabilities	152	117
Liabilities held for sale	13	0
Current portion of deferred revenue	137	153
Total current liabilities	713	966
LONG-TERM DEBT	1,688	1,688
DEFERRED CREDITS AND OTHER LIABILITIES
Deferred income taxes, net	1,360	1,336
Other liabilities	707	685
Total deferred credits and other liabilities	2,474	2,465
COMMITMENTS AND CONTINGENCIES (Note 9)
STOCKHOLDER'S EQUITY
Common stock - one share without par value, owned by Qwest Services Corporation	10,050	10,050
Retained earnings	2,930	2,193
Total stockholder's equity	12,980	12,243
TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY	17,855	17,362
Affiliates
CURRENT ASSETS
Advances to affiliates	509	902
Note receivable - affiliates	937	0
DEFERRED CREDITS AND OTHER LIABILITIES
Affiliate obligations, net	$ 407	$ 444