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CONSOLIDATED STATEMENTS OF CASH FLOWS
$ in Millions
12 Months Ended
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
OPERATING ACTIVITIES      
NET LOSS $ (276) $ (2,004) $ (4,793)
Adjustments to reconcile net loss to net cash provided by operating activities:      
Depreciation and amortization 1,405 1,400 1,534
Net loss on sale of businesses 17 123 493
Goodwill impairment 0 1,970 4,638
Impairment of long-lived assets 83 9 3
Deferred income taxes (52) (10) 209
Net gain on early retirement of debt (119) 0 (8)
Changes in current assets and liabilities:      
Accounts receivable 6 (23) 10
Accounts payable (66) 6 (19)
Changes in deferred revenue 1,769 221 101
Changes in other noncurrent assets and liabilities, net (33) 94 42
Other, net (46) (100) 99
Net cash provided by operating activities 3,131 1,621 2,251
INVESTING ACTIVITIES      
Capital expenditures (1,076) (998) (1,198)
Proceeds from sale of business 15 1,746 2,732
Proceeds from sale of property, plant and equipment and other assets 59 136 2
Increase in notes receivable - affiliate (1,202) 0 0
Other, net 0 (12) 0
Net cash (used in) provided by investing activities (2,204) 872 1,536
FINANCING ACTIVITIES      
Net proceeds from issuance of long-term debt 1,325 0 0
Distributions (3,156) (586) (1,425)
Contributions 210 0 0
Payments of long-term debt (514) (38) (2,387)
Debt issuance and extinguishment costs and related fees (210) (14) 0
Other 0 1 (2)
Net cash used in financing activities (2,345) (637) (3,814)
Net (decrease) increase in cash, cash equivalents and restricted cash (1,418) 1,856 (27)
Cash, cash equivalents and restricted cash at beginning of period 2,020 164 191
Cash, cash equivalents and restricted cash at end of period 602 2,020 164
Supplemental cash flow information:      
Income taxes paid, net 0 (8) (10)
Interest paid (net of capitalized interest of $36, $22 and $16) (723) (433) (387)
Supplemental non-cash information regarding financing activities:      
Issuance of senior secured notes as part of exchange offers (Note 7) 0 924 0
Distribution to Lumen Technologies in exchange for reduction of advances to affiliates 200 0 0
Cash, cash equivalents and restricted cash:      
Cash and cash equivalents 600 2,017 118
Cash and cash equivalents, and restricted cash included in assets held for sale 0 0 44
Restricted cash included in Other current assets 1 1 0
Restricted cash included in Other, net noncurrent assets 1 2 2
Total 602 2,020 164
Nonrelated Party      
Changes in current assets and liabilities:      
Other assets and liabilities, net 224 (39) (131)
Affiliated Entity      
Changes in current assets and liabilities:      
Other assets and liabilities, net $ 219 $ (26) $ 73