v3.26.1
Summary of Significant Accounting Policies (Tables)
 6 Months Ended
Jun. 30, 2026
Accounting Policies [Abstract]  
Schedule of Components of Depreciation and Amortization in the Statement of Income
The Company’s depreciation and amortization included in the condensed consolidated statement of operations consisted of the following:
Three months ended June 30,Six months ended June 30,
(In millions)2026202520262025
Amortization of capitalized contract costs related to fulfillment$74 $48 $140 $89 
Amortization of capitalized contract costs related to customer acquisition95 70 184 137 
Amortization of customer relationships and other intangible assets133 155 263 308 
Depreciation of property, plant and equipment192 71 339 136 
Total depreciation and amortization$494 $344 $926 $670 
Schedule of Activity in Allowance for Credit Losses
The following table represents the activity in the allowance for credit losses for the three and six months ended June 30, 2026 and 2025:
Three months ended June 30,Six months ended June 30,
(In millions)2026202520262025
Beginning balance$150 $144 $146 $152 
Provision for credit losses45 57 104 113 
Write-offs(73)(91)(141)(170)
Recoveries collected9 11 19 23 
Other7 6 10 9 
Ending balance$138 $127 $138 $127 
Schedule of Other Balance Sheet Information
The following table presents the accumulated depreciation included in property, plant and equipment, net and accumulated amortization included in customer relationships, net and other intangible assets, net:
(In millions)June 30, 2026December 31, 2025
Property, plant and equipment accumulated depreciation $1,930 $1,774 
Customer relationships and other intangible assets accumulated amortization 4,256 3,988 
Reconciliation of Cash and Cash Equivalents, Restricted Cash and Funds Deposited by Counterparties
The following table provides a reconciliation of cash and cash equivalents, restricted cash and funds deposited by counterparties reported within the consolidated balance sheets that sum to the total of the same such amounts shown in the statements of cash flows:
(In millions)June 30, 2026December 31, 2025
Cash and cash equivalents$162 $4,708 
Funds deposited by counterparties167 260 
Restricted cash50 30 
Cash and cash equivalents, funds deposited by counterparties and restricted cash shown in the statement of cash flows$379 $4,998 
Schedule of Change in Goodwill
The following table represents the changes in goodwill during the six months ended June 30, 2026:
(In millions)
TexasEastWest/Other
Vivint Smart Home
Total
Balance as of December 31, 2025
$643 $721 $130 $3,523 $5,017 
Goodwill resulting from the acquisition of LSP Portfolio(a)
1,588 2,214 — — 3,802 
Foreign currency translation adjustments— — (4)— (4)
Balance as of June 30, 2026
$2,231 $2,935 $126 $3,523 $8,815 
(a) The goodwill associated with the acquisition of the LSP Portfolio has been preliminarily allocated to the Texas and East segments as of June 30, 2026