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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Revenue        
Revenue $ 7,946 $ 8,510 $ 22,016 $ 23,688 Close
Operating Costs and Expenses        
Cost of operations (excluding depreciation and amortization shown below) 6,421 7,802 20,161 18,619
Depreciation and amortization 308 145 813 485
Impairment losses 0 43 0 198
Selling, general and administrative costs 638 378 1,586 1,076
Acquisition-related transaction and integration costs 18 8 111 26
Total operating costs and expenses 7,385 8,376 22,671 20,404 Close
Gain on sale of assets 0 22 202 51 CloseClose
Operating Income/(Loss) 561 156 (453) 3,335 Close
Other Income/(Expense)        
Equity in earnings of unconsolidated affiliates 6 11 16 0
Other income, net 14 21 43 33
Interest expense (173) (105) (472) (313)
Total other expense (153) (73) (413) (280) Close
Income/(Loss) Before Income Taxes 408 83 (866) 3,055 Close
Income tax expense/(benefit) 65 16 (182) 739 Close
Net Income/(Loss) 343 67 (684) 2,316 Close
Less: Cumulative dividends attributable to Series A Preferred Stock 17 0 38 0
Net Income/(Loss) Available to Common Stockholders, basic 326 67 (722) 2,316
Net Income/(Loss) Available to Common Stockholders, diluted $ 326 $ 67 $ (722) $ 2,316
Income/(Loss) per Share        
Weighted average number of common shares outstanding — basic (in shares) 230,000 235,000 230,000 238,000
Weighted average number of common shares outstanding — diluted (in shares) 232,000 235,000 230,000 238,000
Income/(Loss) per Weighted Average Common Share — Basic (in usd per share) $ 1.42 $ 0.29 $ (3.14) $ 9.73
Income/(Loss) per Weighted Average Common Share — Diluted (in usd per share) $ 1.41 $ 0.29 $ (3.14) $ 9.73