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v3.24.3

Segment Information (Tables) | 9 Months Ended
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Sep. 30, 2024
Segment Reporting [Abstract] |
Schedule of Segment Results | The following tables summarize our segment results for the three and nine months ended September 30, 2024 and 2023, based on our segment categorization as of September 30, 2024.
| Three Months Ended September 30, 2024 |  | Nine Months Ended September 30, 2024
| Business |  | Mass Markets |  | Business |  | Mass Markets
| (Dollars in millions)
Segment revenue | $ | 2,536 |  |  | 685 |  |  | 7,704 |  |  | 2,075 |
Segment expenses: |  |  |  |  |  |  |
Cost of services and products | 766 |  |  | 16 |  |  | 2,266 |  |  | 53 |
Selling, general and administrative | 453 |  |  | 323 |  |  | 1,407 |  |  | 937 |
Total segment expense | 1,219 |  |  | 339 |  |  | 3,673 |  |  | 990 |
Total segment adjusted EBITDA | $ | 1,317 |  |  | 346 |  |  | 4,031 |  |  | 1,085 |
| Three Months Ended September 30, 2023 |  | Nine Months Ended September 30, 2023
| Business |  | Mass Markets |  | Business |  | Mass Markets
| (Dollars in millions)
Segment revenue | $ | 2,905 |  |  | 736 |  |  | 8,781 |  |  | 2,259 |
Segment expenses: |  |  |  |  |  |  |
Cost of services and products | 825 |  |  | 19 |  |  | 2,428 |  |  | 61 |
Selling, general and administrative | 610 |  |  | 364 |  |  | 1,723 |  |  | 1,038 |
Total segment expense | 1,435 |  |  | 383 |  |  | 4,151 |  |  | 1,099 |
Total segment adjusted EBITDA | $ | 1,470 |  |  | 353 |  |  | 4,630 |  |  | 1,160 |
Schedule of Reconciliation of Segment Adjusted EBITDA to Net (Loss) Income | The following table reconciles total segment adjusted EBITDA to net loss for the three and nine months ended September 30, 2024 and 2023:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
| (Dollars in millions)
Total segment adjusted EBITDA | $ | 1,663 |  |  | 1,823 |  |  | 5,116 |  |  | 5,790 |
Depreciation and amortization | (707) |  |  | (755) |  |  | (2,198) |  |  | (2,234) |
Goodwill impairment | — |  |  | — |  |  | — |  |  | (8,793) |
Other unallocated expense | (820) |  |  | (829) |  |  | (2,591) |  |  | (2,532) |
Stock-based compensation expense | (10) |  |  | (16) |  |  | (21) |  |  | (39) |
Operating income (loss) | 126 |  |  | 223 |  |  | 306 |  |  | (7,808) |
Total other expense, net | (298) |  |  | (308) |  |  | (417) |  |  | (287) |
Loss before income taxes | (172) |  |  | (85) |  |  | (111) |  |  | (8,095) |
Income tax (benefit) expense | (24) |  |  | (7) |  |  | 29 |  |  | 208 |
Net loss | $ | (148) |  |  | (78) |  |  | (140) |  |  | (8,303) |

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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 -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-31 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + 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 -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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