XML 20 R7.htm IDEA: XBRL DOCUMENT v3.24.2.u1Close
CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
 3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
OPERATING ACTIVITIES        
Net income (loss) $ (49,000,000) $ (8,736,000,000) $ 8,000,000 $ (8,225,000,000)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:        
Depreciation and amortization     1,491,000,000 1,479,000,000
Loss on sale of business (5,000,000) 13,000,000 17,000,000 90,000,000
Goodwill impairment 0 8,793,000,000 0 8,793,000,000
Deferred income taxes     2,000,000 46,000,000
Provision for uncollectible accounts     39,000,000 47,000,000
Net gain on early retirement of debt (3,000,000) (9,000,000) (278,000,000) (618,000,000)
Debt modification costs and related fees     (75,000,000) 0
Gain on sale of investment (205,000,000)   (205,000,000) 0
Unrealized loss on investments     2,000,000 81,000,000
Stock-based compensation     11,000,000 23,000,000
Changes in current assets and liabilities:        
Accounts receivable     (15,000,000) (36,000,000)
Accounts payable     (187,000,000) (11,000,000)
Accrued income and other taxes     598,000,000 (1,011,000,000)
Other current assets and liabilities, net     (55,000,000) (330,000,000)
Retirement benefits     (16,000,000) (16,000,000)
Changes in other noncurrent assets and liabilities, net     301,000,000 132,000,000
Other, net     (25,000,000) 51,000,000
Net cash provided by operating activities     1,613,000,000 495,000,000 Close
INVESTING ACTIVITIES        
Capital expenditures     (1,466,000,000) (1,436,000,000)
(Payments) proceeds from sale of business     (5,000,000) 3,000,000
Proceeds from sale of property, plant and equipment, and other assets     264,000,000 26,000,000
Other, net     13,000,000 2,000,000
Net cash used in investing activities     (1,194,000,000) (1,405,000,000) Close
FINANCING ACTIVITIES        
Net proceeds from issuance of long-term debt     1,325,000,000 0
Payments of long-term debt     (1,997,000,000) (100,000,000)
Net (payments) proceeds on revolving line of credit     (200,000,000) 200,000,000
Dividends paid     (3,000,000) (9,000,000)
Debt issuance and extinguishment costs and related fees     (282,000,000) (13,000,000)
Other, net     (3,000,000) (6,000,000)
Net cash (used in) provided by financing activities     (1,160,000,000) 72,000,000 Close
Net decrease in cash, cash equivalents and restricted cash     (741,000,000) (838,000,000) Close
Cash, cash equivalents and restricted cash at beginning of period     2,248,000,000 1,307,000,000
Cash, cash equivalents and restricted cash at end of period 1,507,000,000 469,000,000 1,507,000,000 469,000,000
Supplemental cash flow information:        
Income taxes refunded (paid), net     582,000,000 (1,270,000,000)
Interest paid (net of capitalized interest of $79 and $45)     (571,000,000) (561,000,000)
Supplemental noncash information regarding financing activities:        
Cancellation of senior unsecured notes as part of exchange offers (Note 5)     0 (1,554,000,000)
Issuance of senior secured notes as part of exchange offers (Note 5)     0 924,000,000
Cash, cash equivalents and restricted cash:        
Cash and cash equivalents 1,495,000,000 411,000,000 1,495,000,000 411,000,000
Cash and cash equivalents and restricted cash included in Assets held for sale 0 47,000,000 0 47,000,000
Restricted cash included in Other current assets 2,000,000 0 2,000,000 0
Restricted cash included in Other, net noncurrent assets 10,000,000 11,000,000 10,000,000 11,000,000
Total $ 1,507,000,000 $ 469,000,000 $ 1,507,000,000 $ 469,000,000