v3.26.1
CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($)
$ in Millions
Mar. 31, 2026
Dec. 31, 2025
CURRENT ASSETS    
Cash and cash equivalents $ 1,625 $ 1,003
Accounts receivable, net of allowance of $74 and $67 1,603 1,314
Assets held for sale 0 4,285
Other current assets, net 893 1,307
Total current assets 4,121 7,909
Property, plant and equipment, net of accumulated depreciation of $24,042 and $23,744 19,926 19,575
OTHER ASSETS    
Intangible assets, net 4,240 4,463
Other assets, net 2,335 2,395
Total other assets 6,575 6,858
TOTAL ASSETS 30,622 34,342
CURRENT LIABILITIES    
Current maturities of long-term debt 35 88
Accounts payable 1,227 1,508
Accrued expenses and other liabilities    
Salaries and benefits 635 854
Income and other taxes 587 279
Current operating lease liabilities 290 266
Interest 113 149
Other current liabilities 229 203
Liabilities held for sale 0 38
Current portion of deferred revenue 1,055 1,005
Total current liabilities 4,171 4,390
LONG-TERM DEBT 12,925 17,353
DEFERRED CREDITS AND OTHER LIABILITIES    
Deferred income taxes, net 1,887 2,270
Benefit plan obligations, net 1,966 2,103
Deferred revenue 8,008 6,406
Other liabilities 2,982 2,937
Total deferred credits and other liabilities 14,843 13,716
COMMITMENTS AND CONTINGENCIES (Note 11)
STOCKHOLDERS' DEFICIT    
Preferred stock—non-redeemable, $25.00 par value, authorized 2,000 and 2,000 shares, issued and outstanding 7 and 7 shares 0 0
Common stock, no par value, authorized 2,200,000 and 2,200,000 shares, issued and outstanding 1,029,980 and 1,025,446 shares 19,165 19,185
Accumulated other comprehensive loss (581) (601)
Accumulated deficit (19,901) (19,701)
Total stockholders' deficit (1,317) (1,117)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT $ 30,622 $ 34,342