LEVEL 3 PARENT, LLC Financial Statements (2025 and earlier)

Company Profile

Business Address 1025 ELDORADO BOULEVARD
BROOMFIELD, CO 80021
State of Incorp. DE
Fiscal Year End December 31
Industry (SIC) 4813 - Telephone Communications, Except Radiotelephone (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in millions)

9/30/2024
MRQ
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments2,017118146190316243
Cash and cash equivalents2,017118146190316243
Restricted cash and investments1   34
Receivables5461,9852,1102,1512,2572,537
Disposal group, including discontinued operation 121,8532,708   
Other current assets232197239297266234
Other undisclosed current assets1,464     
Total current assets:4,2724,1535,2032,6382,8423,018
Noncurrent Assets
Operating lease, right-of-use asset     1,060
Property, plant and equipment7,3987,3039,04210,5189,9369,453
Intangible assets, net (including goodwill)(5,963)6,94312,39114,0107,88411,529
Goodwill (10,200)1,9706,6667,4057,41511,119
Intangible assets, net (excluding goodwill)4,2374,9735,7256,605469410
Restricted cash and investments     1925
Other noncurrent assets1,3461,3601,4591,410492699
Other undisclosed noncurrent assets 10,200   6,8657,567
Total noncurrent assets:12,98115,60622,89225,93826,25629,273
TOTAL ASSETS:17,25319,75928,09528,57629,09832,291
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities3822322593311,1311,184
Interest and dividends payable  8595
Taxes payable83111152130
Employee-related liabilities176220240233
Accounts payable     654726
Accrued liabilities382232    
Deferred revenue300274291315309
Debt31262614116
Disposal group, including discontinued operation  446435   
Other liabilities781091501597778
Due to related parties7018869669246
Contract with customer, liability310
Other undisclosed current liabilities717691680736249 
Total current liabilities:1,5081,8481,8592,4242,4461,824
Noncurrent Liabilities
Long-term debt and lease obligation, including:8,9528,07010,39610,37310,35610,838
Capital lease obligations157
Finance lease, liability 190210226241160
Other undisclosed long-term debt and lease obligation8,7627,8609,2179,2299,34210,681
Liabilities, other than long-term debt, including:3,1773,0431,8782,2182,7511,752
Deferred revenue1,6231,4201,4041,3961,343
Contract with customer, liability1,181
Deferred tax liabilities, net202
Deferred income tax liabilities    247 
Other liabilities709701474575313369
Operating lease, liability845922953903854
Other undisclosed liabilities, other than long-term debt     1,095 
Total noncurrent liabilities:12,12911,11312,27412,59113,10712,590
Total liabilities:13,63712,96114,13315,01515,55314,414
Equity
Equity, attributable to parent, including:3,6166,79813,00912,90513,54517,877
Accumulated other comprehensive loss(28)(344)(351)(234)(179)(171)
Other undisclosed equity, attributable to parent3,6447,14213,36013,13913,72418,048
Total equity:3,6166,79813,00912,90513,54517,877
Other undisclosed liabilities and equity   953656  
TOTAL LIABILITIES AND EQUITY:17,25319,75928,09528,57629,09832,291

Income Statement (P&L) ($ in millions)

9/30/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Revenues7,0377,4937,9527,9338,1858,220
Cost of revenue(4,468)(5,260)(4,848)(4,639)(4,894)(5,077)
Cost of goods and services sold(3,028)(3,229)(3,525)(3,486)(3,799)(3,937)
Gross profit:2,5692,2333,1043,2943,2913,143
Operating expenses(4,194)(6,481)(2,072)(2,130)(5,818)(2,175)
Operating income (loss):(1,625)(4,248)1,0321,164(2,527)968
Nonoperating income (expense)1585112101(419)(431)
Investment income, nonoperating  6265516167
Other nonoperating income152347508 
Interest and debt expense(458)(374)(361)(393)(502)(509)
Other undisclosed income from continuing operations before equity method investments, income taxes     502509
Income (loss) from continuing operations before equity method investments, income taxes:(2,068)(4,537)783872(2,946)537
Other undisclosed income from continuing operations before income taxes62     
Income (loss) from continuing operations before income taxes:(2,006)(4,537)783872(2,946)537
Income tax expense (benefit)2(256)(197)(221)(255)(196)
Income (loss) from continuing operations:(2,004)(4,793)586651(3,201)341
Income (loss) before gain (loss) on sale of properties:586651(3,201)341
Net income (loss) available to common stockholders, diluted:(2,004)(4,793)586651(3,201)341

Comprehensive Income ($ in millions)

9/30/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Net income (loss):(2,004)(4,793)586651(3,201)341
Other comprehensive income (loss)  30(43)(8)(195)
Other undisclosed comprehensive income      
Comprehensive income (loss):(2,004)(4,793)616608(3,209)146
Other undisclosed comprehensive income (loss), net of tax, attributable to parent3167(147)(12)  
Comprehensive income (loss), net of tax, attributable to parent:(1,688)(4,786)469596(3,209)146

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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