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v3.22.2

Segment Information (Tables) | 6 Months Ended
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Jun. 30, 2022
Segment Reporting [Abstract] |
Schedule of Segment Results | The following tables summarize our segment results for the three and six months ended June 30, 2022 and 2021, based on the segment categorization we were operating under at June 30, 2022.
| Three Months Ended June 30, 2022
| Business | Mass Markets | Total Segments | Operations and Other | Total
| (Dollars in millions)
Revenue | $ | 3,416 |  | 1,196 |  | 4,612 |  | — |  | 4,612 |
Expenses: |  |  |  |  |
Cost of services and products | 845 |  | 34 |  | 879 |  | 1,179 |  | 2,058 |
Selling, general and administrative | 284 |  | 136 |  | 420 |  | 395 |  | 815 |
Less: stock-based compensation | — |  | — |  | — |  | (25) |  | (25) |
Total expense | 1,129 |  | 170 |  | 1,299 |  | 1,549 |  | 2,848 |
Total adjusted EBITDA | $ | 2,287 |  | 1,026 |  | 3,313 |  | (1,549) |  | 1,764 |
| Three Months Ended June 30, 2021
| Business | Mass Markets | Total Segments | Operations and Other | Total
| (Dollars in millions)
Revenue | $ | 3,522 |  | 1,402 |  | 4,924 |  | — |  | 4,924 |
Expenses: |  |  |  |  |
Cost of services and products | 863 |  | 40 |  | 903 |  | 1,212 |  | 2,115 |
Selling, general and administrative | 295 |  | 153 |  | 448 |  | 314 |  | 762 |
Less: stock-based compensation | — |  | — |  | — |  | (42) |  | (42) |
Total expense | 1,158 |  | 193 |  | 1,351 |  | 1,484 |  | 2,835 |
Total adjusted EBITDA | $ | 2,364 |  | 1,209 |  | 3,573 |  | (1,484) |  | 2,089 |
| Six Months Ended June 30, 2022
| Business | Mass Markets | Total Segments | Operations and Other | Total
| (Dollars in millions)
Revenue | $ | 6,817 |  | 2,471 |  | 9,288 |  | — |  | 9,288 |
Expenses: |  |  |  |  |
Cost of services and products | 1,660 |  | 66 |  | 1,726 |  | 2,317 |  | 4,043 |
Selling, general and administrative | 582 |  | 270 |  | 852 |  | 763 |  | 1,615 |
Less: stock-based compensation | — |  | — |  | — |  | (48) |  | (48) |
Total expense | 2,242 |  | 336 |  | 2,578 |  | 3,032 |  | 5,610 |
Total adjusted EBITDA | $ | 4,575 |  | 2,135 |  | 6,710 |  | (3,032) |  | 3,678 |
| Six Months Ended June 30, 2021
| Business | Mass Markets | Total Segments | Operations and Other | Total
| (Dollars in millions)
Revenue | $ | 7,117 |  | 2,836 |  | 9,953 |  | — |  | 9,953 |
Expenses: |  |  |  |  |
Cost of services and products | 1,747 |  | 83 |  | 1,830 |  | 2,421 |  | 4,251 |
Selling, general and administrative | 599 |  | 287 |  | 886 |  | 632 |  | 1,518 |
Less: stock-based compensation | — |  | — |  | — |  | (62) |  | (62) |
Total expense | 2,346 |  | 370 |  | 2,716 |  | 2,991 |  | 5,707 |
Total adjusted EBITDA | $ | 4,771 |  | 2,466 |  | 7,237 |  | (2,991) |  | 4,246 |
Reconciliation of Operating Profit (Loss) From Segments to Consolidated Net Income | The following table reconciles total segment adjusted EBITDA to net income for the three and six months ended June 30, 2022 and 2021:
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2022 |  | 2021 |  | 2022 |  | 2021
| (Dollars in millions)
Total segment adjusted EBITDA | $ | 3,313 |  |  | 3,573 |  |  | 6,710 |  |  | 7,237 |
Operations and other expenses | (1,549) |  |  | (1,484) |  |  | (3,032) |  |  | (2,991) |
Depreciation and amortization | (827) |  |  | (1,041) |  |  | (1,635) |  |  | (2,191) |
Stock-based compensation | (25) |  |  | (42) |  |  | (48) |  |  | (62) |
Operating income | 912 |  |  | 1,006 |  |  | 1,995 |  |  | 1,993 |
Total other expense, net | (459) |  |  | (332) |  |  | (741) |  |  | (687) |
Income before income taxes | 453 |  |  | 674 |  |  | 1,254 |  |  | 1,306 |
Income tax expense | 109 |  |  | 168 |  |  | 311 |  |  | 325 |
Net income | $ | 344 |  |  | 506 |  |  | 943 |  |  | 981 |

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- Definition Tabular disclosure of the reconciliation of profit (loss) from reportable segments to the consolidated income (loss) before income tax expense (benefit) and discontinued operations. Includes, but is not limited to, reconciliation after income tax if income tax is allocated to the reportable segment. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599 + Details
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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8813-108599 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599 + Details
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