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Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2024

The following table presents adjustments within the consolidated statement of operations for the years ended December 31, 2023 and 2022 related to capitalized contract costs:


(In millions)	As Previously Presented		Presentation Adjustments		As Adjusted
Year ended December 31, 2023
Cost of operations (excluding depreciation and amortization shown below)	$	26,526	$	(43)	$	26,483
Depreciation and amortization	1,127		168		1,295
Selling, general and administrative costs	1,968		(125)		1,843
Year ended December 31, 2022
Cost of operations (excluding depreciation and amortization shown below)	$	27,446	$	(3)	$	27,443
Depreciation and amortization	634		86		720
Selling, general and administrative costs	1,228		(83)		1,145

The following table presents adjustments within the consolidated statement of cash flows for the years ended December 31, 2023 and 2022 related to capitalized contract costs:


(In millions)	As Previously Presented		Presentation Adjustments		As Adjusted
Year ended December 31, 2023
Cash flows from operating activities:
Amortization of capitalized contract costs	$	—	$	168	$	168
Prepayments and other current assets	(233)		(168)		(401)
Year ended December 31, 2022
Cash flows from operating activities:
Amortization of capitalized contract costs	$	—	$	86	$	86
Prepayments and other current assets	17		(86)		(69)

Accounts Receivable, Allowance for Credit Loss

The following table presents the activity in the allowance for credit losses for the years ended December 31, 2024, 2023, and 2022:


	Year Ended December 31,
(In millions)	2024		2023		2022
Beginning balance	$	145	$	133	$	683
Acquired balance from Vivint Smart Home	—		22		—
Provision for credit losses(a)	314		251		11
Write-offs	(363)		(313)		(593)
Recoveries collected	38		39		32
Other	18		13		—
Ending balance(a)	$	152	$	145	$	133

(a)Includes bilateral finance hedging risk of $(70) million accounted for under ASC 815 for the year ended December 31, 2022

Reconciliation of Cash, Cash Equivalents, and Restricted Cash and Cash Equivalents

The following table provides a reconciliation of cash and cash equivalents, restricted cash and funds deposited by counterparties reported within the consolidated balance sheets that sum to the total of the same such amounts shown in the statements of cash flows.


	Year Ended December 31,
(In millions)	2024		2023		2022
Cash and cash equivalents	$	966	$	541	$	430
Funds deposited by counterparties	199		84		1,708
Restricted cash	8		24		40
Cash and cash equivalents, funds deposited by counterparties and restricted cash shown in the statements of cash flows	$	1,173	$	649	$	2,178

Detail of supplemental disclosures of cash flow and non-cash investing and financing information was:


	Year Ended December 31,
(In millions)	2024		2023		2022
Interest paid, net of amount capitalized	$	626	$	548	$	383
Income taxes paid, net of refunds	182		48		66
Non-cash investing and financing activities:
Decreases to fixed assets for accrued capital expenditures	(76)		—		(68)
Excise tax accrued on share repurchases	9		10		—

Supplemental Statement of Income Disclosures

The Company's depreciation and amortization included in the consolidated statement of operations consisted of the following:


	For the Year Ended December 31,
(In millions)	2024		2023		2022
Amortization of capitalized contract costs related to fulfillment	$	120	$	37	$	—
Amortization of capitalized contract costs related to customer acquisition	212		131		86
Amortization of customer relationships and other intangible assets	800		870		343
Depreciation of property, plant and equipment	271		257		291
Total depreciation and amortization	$	1,403	$	1,295	$	720