v3.25.4
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Cash flows from operating activities:    
Net earnings (loss) $ (309) $ 70
Adjustments to reconcile net earnings (loss) to net cash from operating activities:    
Depreciation and amortization 212 207
Stock-based compensation 13 13
Impairment of goodwill and intangible assets 525 0
Deferred income tax expense (benefit) (391) 10
Non-cash changes in taxes payable 206  
State indemnification received from Liberty Broadband 91  
Amortization of right-of-use assets 50 52
Other, net (4) (4)
Change in operating assets and liabilities:    
Decrease (increase) in accounts receivable 38 (14)
Decrease (increase) in other assets (3) (4)
(Decrease) increase in operating lease liabilities (51) (49)
(Decrease) increase in other liabilities (7) (3)
Net cash provided by (used in) operating activities 370 278
Cash flows from investing activities:    
Capital expenditures (248) (247)
Grant proceeds received for capital expenditures 24 54
Other investing activities, net 6  
Net cash provided by (used in) investing activities (218) (193)
Cash flows from financing activities:    
Borrowings of debt 691 155
Repayment of debt, tower obligations and finance leases (779) (107)
Proceeds from rights offering, net 299  
Dividends paid to former parent   (150)
Other financing activities, net (9) (5)
Net cash provided by (used in) financing activities 202 (107)
Net increase (decrease) in cash, cash equivalents and restricted cash 354 (22)
Cash, cash equivalents and restricted cash, beginning of period 75 97
Cash, cash equivalents and restricted cash, end of period $ 429 $ 75