v3.26.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
CASH FLOWS FROM OPERATING ACTIVITIES:    
Consolidated net income $ 1,807 $ 1,838
Adjustments to reconcile consolidated net income to net cash flows from operating activities:    
Depreciation and amortization 2,204 2,173
Stock compensation expense 203 222
Noncash interest, net 1 3
Other, net 132 233
Changes in operating assets and liabilities, net of effects from acquisitions and dispositions:    
Accounts receivable 18 (43)
Prepaid expenses and other assets (98) (230)
Accounts payable, accrued liabilities and other 88 88
Net cash flows from operating activities 4,351 4,291
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of property, plant and equipment (2,855) (2,399)
Change in accrued expenses related to capital expenditures (77) (273)
Other, net (42) (119)
Net cash flows from investing activities (2,974) (2,791)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Borrowings of long-term debt 7,216 1,393
Borrowings of equipment installment plan financing facility 148 121
Repayments of long-term debt (7,499) (1,609)
Payments for debt issuance costs (30) 0
Distributions to parent (1,097) (882)
Contributions from parent 6 4
Distributions to noncontrolling interest (1) (2)
Other, net (108) (164)
Net cash flows from financing activities (1,365) (1,139)
NET INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH 12 361
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, beginning of period 339 301
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, end of period 351 662
CASH PAID FOR INTEREST 1,060 992
Restricted cash 105 70
Related Party    
Changes in operating assets and liabilities, net of effects from acquisitions and dispositions:    
Receivables from and payables to related party $ (4) $ 7