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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Revenue        
Revenue $ 7,635 $ 7,223 $ 22,960 $ 21,311
Operating Costs and Expenses        
Cost of operations (excluding depreciation and amortization shown below) 6,241 7,239 18,431 17,229
Depreciation and amortization 360 352 1,030 1,045
Impairment losses 0 0 0 15
Selling, general and administrative costs (excluding amortization of customer acquisition costs of $78, $55, $211 and $144, respectively, which are included in depreciation and amortization shown separately above) 612 645 1,885 1,739
Acquisition-related transaction and integration costs 8 7 59 22
Total operating costs and expenses 7,221 8,243 21,405 20,050
Gain/(loss) on sale of assets 0 208 (7) 209
Operating Income/(Loss) 414 (812) 1,548 1,470
Other Income/(Expense)        
Equity in earnings of unconsolidated affiliates 1 6 4 13
Other income, net 10 5 26 38
Loss on debt extinguishment 0 0 (10) (260)
Interest expense (187) (213) (498) (528)
Total other expense (176) (202) (478) (737)
Income/(Loss) Before Income Taxes 238 (1,014) 1,070 733
Income tax expense/(benefit) 86 (247) 272 251
Net Income/(Loss) 152 (767) 798 482
Less: Cumulative dividends attributable to Series A Preferred Stock 17 17 51 51
Net Income/(Loss) Available for Common Stockholders 135 (784) 747 431
Net Income/(Loss) Available for Common Stockholders $ 135 $ (784) $ 747 $ 431
Income/(Loss) per Share        
Weighted average number of common shares outstanding — basic (in shares) 193,000 207,000 196,000 207,000
Income/(Loss) per Weighted Average Common Share — Basic (in usd per share) $ 0.70 $ (3.79) $ 3.81 $ 2.08
Weighted average number of common shares outstanding — diluted (in shares) 195,000 207,000 201,000 213,000
Income/(Loss) per Weighted Average Common Share — Diluted (in usd per share) $ 0.69 $ (3.79) $ 3.72 $ 2.02