Qwest Corporation (CTBB) Financial Statements (2024 and earlier)

Company Profile

Business Address P O BOX 4065
MONROE, LA 71203
State of Incorp. CO
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)

3/31/2024
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 investments10821425
Cash and cash equivalents10821425
Receivables2618853013642,3571,694
Prepaid expense     4137
Contract with customer, asset, after allowance for credit loss     5052
Other current assets144120187122  
Other undisclosed current assets     3658
Total current assets:4151,0134905002,4861,846
Noncurrent Assets
Operating lease, right-of-use asset     105
Property, plant and equipment8,7008,2738,1808,3098,1708,077
Intangible assets, net (including goodwill)7,0589,4989,5599,70310,1399,360
Goodwill6,9559,3609,3609,3609,3609,360
Intangible assets, net (excluding goodwill)103138199343779 
Restricted cash and investments      2
Other noncurrent assets1641411411479996
Other undisclosed noncurrent assets      1,202
Total noncurrent assets:15,92217,91217,88018,15918,51318,737
TOTAL ASSETS:16,33718,92518,37018,65920,99920,583
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities362429438565962962
Interest and dividends payable  5555
Taxes payable949594140
Employee-related liabilities138178276251
Accounts payable362213206292403441
Accrued liabilities  216  13475
Deferred revenue162167174183201
Debt  19481,10511
Other liabilities121130182186  
Due to related parties 1,1871,1301,14179
Contract with customer, liability212
Other undisclosed current liabilities288254592 1,008
Total current liabilities:9337282,0363,6043,4092,272
Noncurrent Liabilities
Long-term debt and lease obligation, including:2,15722,1562,3864,8465,948
Capital lease obligations7
Finance lease, liability 32145
Other undisclosed long-term debt and lease obligation2,154 2,1552,3824,7525,941
Liabilities, other than long-term debt1,9972,4882,5432,5712,5381,397
Deferred revenue     108
Contract with customer, liability91
Deferred income tax liabilities1,3181,2821,2761,2491,198
Due to related parties552597637717759
Other liabilities679654670685515547
Operating lease, liability     89
Total noncurrent liabilities:4,1542,4904,6994,9577,3847,345
Total liabilities:5,0873,2186,7358,56110,7939,617
Equity
Equity, attributable to parent10,75613,55411,63510,09810,1179,868
Common stock10,05010,05010,05010,05010,05010,050
Retained earnings (accumulated deficit)7063,5041,5854867(182)
Total equity:10,75613,55411,63510,09810,1179,868
Other undisclosed liabilities and equity4942,153  891,098
TOTAL LIABILITIES AND EQUITY:16,33718,92518,37018,65920,99920,583

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

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Revenues5,9156,4496,9517,3138,1578,493
Cost of revenue(2,338)(2,320)(2,453)(2,657)(3,166)(2,767)
Cost of goods and services sold(1,608)(1,646)(1,722)(1,995)(2,438)(2,767)
Gross profit:3,5774,1294,4984,6564,9915,726
Operating expenses(3,772)(1,374)(1,390)(1,945)(2,107)(5,833)
Other undisclosed operating income      2,767
Operating income (loss):(195)2,7553,1082,7112,8842,660
Nonoperating expense(75)(165)(292)(409)(416)(501)
Interest and debt expense(95)(60)(8)(63)(1)(30)
Income (loss) from continuing operations before equity method investments, income taxes:(365)2,5302,8082,2392,4672,129
Other undisclosed income from continuing operations before income taxes9560863130
Income (loss) from continuing operations before income taxes:(270)2,5902,8162,3022,4682,159
Income tax expense(561)(671)(709)(595)(641)(494)
Income (loss) from continuing operations:(831)1,9192,1071,7071,8271,665
Income before gain (loss) on sale of properties:2,1071,7071,8271,665
Net income (loss) available to common stockholders, diluted:(831)1,9192,1071,7071,8271,665

Comprehensive Income ($ in millions)

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Net income (loss):(831)1,9192,1071,7071,8271,665
Comprehensive income (loss), net of tax, attributable to parent:(831)1,9192,1071,7071,8271,665

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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