v3.26.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Mar. 31, 2026
Dec. 31, 2025
Assets    
Cash and cash equivalents $ 330 $ 620
Accounts receivable, net of allowance of $2 at March 31, 2026 and December 31, 2025 638 540
Materials and supplies, net of allowance of $144 and $140 at March 31, 2026 and December 31, 2025, respectively 383 378
Assets held for sale 1 24
Restricted cash and cash equivalents 285 377
Other current assets 129 142
Total current assets 1,766 2,081
Property and equipment 17,465 17,451
Less accumulated depreciation (5,006) (4,874)
Property and equipment, net 12,459 12,577
Deferred tax assets, net 47 61
Other assets 879 923
Total assets 15,151 15,642
Liabilities and equity    
Accounts payable 229 242
Accrued income taxes 28 22
Debt due within one year 329 445
Other current liabilities 562 627
Total current liabilities 1,148 1,336
Long-term debt 4,945 5,212
Deferred tax liabilities, net 317 404
Other long-term liabilities 549 582
Total long-term liabilities 5,811 6,198
Commitments and contingencies
Shares, $0.10 par value, 1,204 authorized, 141 conditionally authorized, 1,204 issued at March 31, 2026 and December 31, 2025, and 1,107 and 1,102 outstanding at March 31, 2026 and December 31, 2025, respectively 111 110
Additional paid-in capital 15,611 15,604
Accumulated deficit (7,389) (7,460)
Accumulated other comprehensive loss (141) (146)
Total equity 8,192 8,108
Total liabilities and equity $ 15,151 $ 15,642