v3.26.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
CASH FLOWS FROM OPERATING ACTIVITIES:    
Consolidated net income $ 3,780 $ 3,768
Adjustments to reconcile consolidated net income to net cash flows from operating activities:    
Depreciation and amortization 4,393 4,342
Stock compensation expense 341 379
Noncash interest, net 2 5
Deferred income taxes 1 0
Other, net (77) 304
Changes in operating assets and liabilities, net of effects from acquisitions and dispositions:    
Accounts receivable (123) (288)
Prepaid expenses and other assets (125) (133)
Accounts payable, accrued liabilities and other 92 116
Net cash flows from operating activities 8,367 8,475
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of property, plant and equipment (5,713) (5,273)
Change in accrued expenses related to capital expenditures (162) 47
Other, net (86) (166)
Net cash flows from investing activities (5,961) (5,392)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Borrowings of long-term debt 11,610 5,116
Borrowings of equipment installment plan financing facility 148 233
Repayments of long-term debt (12,108) (4,793)
Payments for debt issuance costs (30) (1)
Distributions to parent (2,460) (3,356)
Contributions from parent 238 60
Distributions to noncontrolling interest (1) (2)
Other, net 233 (192)
Net cash flows from financing activities (2,370) (2,935)
NET INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH 36 148
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, beginning of period 339 301
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, end of period 375 449
CASH PAID FOR INTEREST 2,493 2,426
Restricted cash 90 43
Related Party    
Changes in operating assets and liabilities, net of effects from acquisitions and dispositions:    
Receivables from and payables to related party $ 83 $ (18)