Lumen Technologies Inc
For the period ended Sep 30, 2024. Filed Nov 5, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 5, 2024
LUMN$4.71+9.0%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Cash Flows (Unaudited)
CONSOLIDATED STATEMENTS OF CASH FLOWS
| Nine Months Ended September 30, | ||
|---|---|---|
| 2024 | 2023 | |
| (Dollars in millions) | ||
| OPERATING ACTIVITIES | ||
| Net loss | $(140) | (8,303) |
| Adjustments to reconcile net loss to net cash provided by operating activities: | ||
| Depreciation and amortization | 2,198 | 2,234 |
| Net loss on sale of business | 17 | 112 |
| Goodwill impairment | — | 8,793 |
| Deferred income taxes | (6) | 38 |
| Provision for uncollectible accounts | 54 | 77 |
| Net gain on early retirement of debt | (277) | (618) |
| Debt modification costs and related fees | (80) | — |
| Gain on sale of investment | (205) | — |
| Unrealized loss on investments | 10 | 96 |
| Stock-based compensation | 21 | 39 |
| Changes in current assets and liabilities: | ||
| Accounts receivable | 39 | 3 |
| Accounts payable | (212) | (147) |
| Accrued income and other taxes | 440 | (996) |
| Other current assets and liabilities, net | 264 | (196) |
| Retirement benefits | (185) | (9) |
| Change in deferred revenue | 1,572 | 161 |
| Changes in other noncurrent assets and liabilities, net | 185 | 33 |
| Other, net | (50) | 59 |
| Net cash provided by operating activities | 3,645 | 1,376 |
| INVESTING ACTIVITIES | ||
| Capital expenditures | (2,316) | (2,279) |
| Proceeds from sale of business | 15 | 3 |
| Proceeds from sale of property, plant and equipment, and other assets | 283 | 35 |
| Other, net | 19 | 9 |
| Net cash used in investing activities | (1,999) | (2,232) |
| FINANCING ACTIVITIES | ||
| Net proceeds from issuance of long-term debt | 1,325 | — |
| Payments of long-term debt | (2,069) | (145) |
| Net (payments) proceeds on revolving line of credit | (200) | 75 |
| Dividends paid | (3) | (10) |
| Debt issuance and extinguishment costs and related fees | (282) | (14) |
| Other, net | (12) | (7) |
| Net cash used in financing activities | (1,241) | (101) |
| Net increase (decrease) in cash, cash equivalents and restricted cash | 405 | (957) |
| Cash, cash equivalents and restricted cash at beginning of period | 2,248 | 1,307 |
| Cash, cash equivalents and restricted cash at end of period | $2,653 | 350 |
| Supplemental cash flow information: | ||
| Income taxes refunded (paid), net | $425 | (1,289) |
| Interest paid (net of capitalized interest of $130 and $75) | $(877) | (886) |
| Supplemental noncash information regarding financing activities: | ||
| Cancellation of senior unsecured notes as part of exchange offers (Note 5) | $— | (1,554) |
| Issuance of senior secured notes as part of exchange offers (Note 5) | $— | 924 |
| Cash, cash equivalents and restricted cash: | ||
| Cash and cash equivalents | $2,640 | 311 |
| Cash and cash equivalents and restricted cash included in Assets held for sale | — | 28 |
| Restricted cash included in Other current assets | 2 | — |
| Restricted cash included in Other, net noncurrent assets | 11 | 11 |
| Total | $2,653 | 350 |
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