QWEST CORP
For the period ended Dec 31, 2024. Filed Feb 20, 2025.
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FY2024 · Filed Feb 20, 2025
CTGG$12.55-2.0%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
| Years Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| (Dollars in millions) | |||
| OPERATING ACTIVITIES | |||
| Net income (loss) | $1,487 | (831) | 1,919 |
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: | |||
| Depreciation and amortization | 753 | 823 | 860 |
| Goodwill impairment | — | 2,405 | — |
| Deferred income taxes | 37 | 22 | 20 |
| Provision for uncollectible accounts | 45 | 66 | 60 |
| Accrued interest on affiliate note | — | — | 28 |
| Changes in current assets and liabilities: | |||
| Accounts receivable | (11) | 20 | (68) |
| Accounts payable | 14 | 14 | (29) |
| Accrued income and other taxes | 10 | 7 | (5) |
| Other current assets and liabilities, net | (49) | (97) | (26) |
| Changes in other noncurrent assets and liabilities, net | (8) | 17 | (28) |
| Changes in affiliate obligations, net | (55) | (62) | (90) |
| Other, net | (29) | 5 | (15) |
| Net cash provided by operating activities | 2,194 | 2,389 | 2,626 |
| INVESTING ACTIVITIES | |||
| Capital expenditures | (1,047) | (1,062) | (849) |
| Changes in advances to affiliates | (902) | 569 | (576) |
| Proceeds from sale of property, plant and equipment and other assets | 58 | 27 | 76 |
| Net cash used in investing activities | (1,891) | (466) | (1,349) |
| FINANCING ACTIVITIES | |||
| Payment of note payable - affiliate | — | — | (1,215) |
| Payments of long-term debt | (226) | (2) | (1) |
| Dividends paid | — | (1,980) | — |
| Changes in advances from affiliates | (61) | 61 | (55) |
| Net cash used in financing activities | (287) | (1,921) | (1,271) |
| Net increase in cash, cash equivalents and restricted cash | 16 | 2 | 6 |
| Cash, cash equivalents and restricted cash at beginning of period | 12 | 10 | 4 |
| Cash, cash equivalents and restricted cash at end of period | $28 | 12 | 10 |
| Supplemental cash flow information: | |||
| Income taxes paid, net | $(497) | (509) | (673) |
| Interest paid, including affiliate interest (net of capitalized interest of $75, $54 and $29) | (63) | (97) | (113) |
| Supplemental noncash information of financing activities: | |||
| Dividend to parent in exchange for advances to affiliates | $— | (1,980) | — |
| Cash, cash equivalents and restricted cash: | |||
| Cash and cash equivalents | $26 | 10 | 8 |
| Restricted cash - noncurrent | 2 | 2 | 2 |
| Total | $28 | 12 | 10 |
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