v3.25.2
CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
OPERATING REVENUE        
Total operating revenue $ 1,206 $ 1,389 $ 2,428 $ 2,781
OPERATING EXPENSES        
Cost of services and products (exclusive of depreciation and amortization) 363 373 717 743
Selling, general and administrative 96 118 200 246
Operating expenses—affiliates 196 181 381 393
Depreciation and amortization 174 187 365 374
Total operating expenses 829 859 1,663 1,756
OPERATING INCOME 377 530 765 1,025
OTHER (EXPENSE) INCOME        
Interest expense (24) (14) (46) (33)
Other income (expense), net 1 (2) 5 (1)
Total other income (expense), net 1 (12) (4) (28)
INCOME BEFORE INCOME TAX EXPENSE 378 518 761 997
Income tax expense 101 140 200 266
NET INCOME 277 378 561 731
Non-affiliates        
OPERATING REVENUE        
Total operating revenue 724 829 1,464 1,675
Affiliates        
OPERATING REVENUE        
Total operating revenue 482 560 964 1,106
OTHER (EXPENSE) INCOME        
Interest income—affiliate, net $ 24 $ 4 $ 37 $ 6