CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Dec. 31, 2025	Dec. 31, 2024
CURRENT ASSETS
Cash and cash equivalents	$ 39	$ 26
Accounts receivable, less allowance of $37 and $29	199	227
Assets held for sale	2,587	0
Other current assets, net	77	152
Total current assets	4,505	1,307
Property, plant and equipment, net of accumulated depreciation of $8,910 and $8,910	7,446	8,865
GOODWILL AND OTHER ASSETS
Goodwill	3,638	6,955
Intangible assets, net	111	84
Other assets, net	120	151
Total goodwill and other assets	3,869	7,190
TOTAL ASSETS	15,820	17,362
CURRENT LIABILITIES
Current maturities of long-term debt	0	239
Accounts payable	152	221
Accrued expenses and other liabilities
Salaries and benefits	129	130
Income and other taxes	110	106
Other current liabilities	109	117
Liabilities held for sale	10	0
Current portion of deferred revenue	143	153
Total current liabilities	653	966
LONG-TERM DEBT	1,688	1,688
DEFERRED CREDITS AND OTHER LIABILITIES
Deferred income taxes, net	1,461	1,336
Other liabilities	703	685
Total deferred credits and other liabilities	2,563	2,465
COMMITMENTS AND CONTINGENCIES (Note 15)
STOCKHOLDER'S EQUITY
Common stock - one share without par value, owned by Qwest Services Corporation	10,050	10,050
Retained earnings	866	2,193
Total stockholder's equity	10,916	12,243
TOTAL LIABILITIES AND STOCKHOLDER'S EQUITY	15,820	17,362
Affiliated Entity
CURRENT ASSETS
Advances to affiliates	666	902
Note receivable - affiliates	937	0
DEFERRED CREDITS AND OTHER LIABILITIES
Affiliate obligations, net	$ 399	$ 444