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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Revenue        
Revenue $ 6,740 $ 6,659 $ 15,325 $ 14,088
Operating Costs and Expenses        
Cost of operations (excluding depreciation and amortization shown below) 5,629 4,328 12,190 9,990
Depreciation and amortization 344 360 670 693
Impairment losses 0 15 0 15
Selling, general and administrative costs (excluding amortization of customer acquisition costs of $68, $47,$133 and $89, respectively, which are included in depreciation and amortization shown separately above) 724 545 1,273 1,094
Acquisition-related transaction and integration costs 43 6 51 15
Total operating costs and expenses 6,740 5,254 14,184 11,807
Gain/(loss) on sale of assets 0 5 (7) 1
Operating Income 0 1,410 1,134 2,282
Other Income/(Expense)        
Equity in earnings of unconsolidated affiliates 1 4 3 7
Other income, net 4 3 16 33
Loss on debt extinguishment (10) (202) (10) (260)
Interest expense (148) (163) (311) (315)
Total other expense (153) (358) (302) (535)
(Loss)/Income Before Income Taxes (153) 1,052 832 1,747
Income tax (benefit)/expense (49) 314 186 498
Net (Loss)/Income (104) 738 646 1,249
Less: Cumulative dividends attributable to Series A Preferred Stock 17 17 34 34
Net (Loss)/Income Available for Common Stockholders (121) 721 612 1,215
Net (Loss)/Income Available for Common Stockholders $ (121) $ 721 $ 612 $ 1,215
(Loss)/Income per Share        
Weighted average number of common shares outstanding — basic (in shares) 196,000 208,000 197,000 209,000
(Loss)/Income per Weighted Average Common Share — Basic (in usd per share) $ (0.62) $ 3.47 $ 3.11 $ 5.81
Weighted average number of common shares outstanding — diluted (in shares) 196,000 214,000 203,000 214,000
(Loss)/Income per Weighted Average Common Share — Diluted (in usd per share) $ (0.62) $ 3.37 $ 3.01 $ 5.68