QWEST CORP
For the period ended Dec 31, 2025. Filed Feb 20, 2026.
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FY2025 · Filed Feb 20, 2026
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, | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| (Dollars in millions) | |||
| OPERATING ACTIVITIES | |||
| Net (loss) income | $(1,327) | 1,487 | (831) |
| Adjustments to reconcile net (loss) income to net cash provided by operating activities: | |||
| Depreciation and amortization | 685 | 753 | 823 |
| Net loss on disposal group held for sale | 235 | — | — |
| Goodwill impairment | 2,012 | — | 2,405 |
| Deferred income taxes | 125 | 37 | 22 |
| Provision for uncollectible accounts | 39 | 45 | 66 |
| Changes in current assets and liabilities: | |||
| Accounts receivable | (23) | (11) | 20 |
| Accounts payable | (50) | 14 | 14 |
| Accrued income and other taxes | 4 | 10 | 7 |
| Other current assets and liabilities, net | 57 | (49) | (97) |
| Changes in other assets and liabilities, net | 26 | (8) | 17 |
| Changes in affiliate obligations, net | (49) | (55) | (62) |
| Other, net | 28 | (29) | 5 |
| Net cash provided by operating activities | 1,762 | 2,194 | 2,389 |
| INVESTING ACTIVITIES | |||
| Capital expenditures | (824) | (1,047) | (1,062) |
| Changes in advances to affiliates | 236 | (902) | 569 |
| Net increase in note receivable - affiliates | (937) | — | — |
| Proceeds from sale of property, plant and equipment and other assets | 13 | 58 | 27 |
| Net cash used in investing activities | (1,512) | (1,891) | (466) |
| FINANCING ACTIVITIES | |||
| Payments of long-term debt | (238) | (226) | (2) |
| Dividends paid | — | — | (1,980) |
| Changes in advances from affiliates | — | (61) | 61 |
| Net cash used in financing activities | (238) | (287) | (1,921) |
| Net increase in cash, cash equivalents and restricted cash | 12 | 16 | 2 |
| Cash, cash equivalents and restricted cash at beginning of period | 28 | 12 | 10 |
| Cash, cash equivalents and restricted cash at end of period | $40 | 28 | 12 |
| Supplemental cash flow information: | |||
| Income taxes paid, net | $(199) | (497) | (509) |
| Interest paid, including affiliate interest (net of capitalized interest of $35, $75 and $54) | (98) | (63) | (97) |
| 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 | $39 | 26 | 10 |
| Restricted cash - noncurrent | 1 | 2 | 2 |
| Total | $40 | 28 | 12 |
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