Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

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CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)
shares in Millions, $ in Millions
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Revenue:      
Total revenue $ 9,003 $ 8,696 $ 8,040
Cost of services:      
Subscriber acquisition costs 352 325 362
Sales and marketing 1,075 1,056 957
Engineering, design and development 285 265 263
General and administrative 525 514 511
Depreciation and amortization 536 533 506
Impairment, restructuring and acquisition costs 64 20 1,004
Total operating expenses 6,967 6,681 7,182
Income from operations 2,036 2,015 858
Other (expense) income:      
Interest expense (422) (415) (394)
Loss on extinguishment of debt 0 (83) (40)
Other (expense) income (9) 9 6
Total other expense (431) (489) (428)
Income before income taxes 1,605 1,526 430
Income tax expense (392) (212) (299)
Net income 1,213 1,314 131
Foreign currency translation adjustment, net of tax (19) 0 7
Total comprehensive income $ 1,194 $ 1,314 $ 138
Net income per common share:      
Basic (in USD per share) $ 0.31 $ 0.32 $ 0.03
Diluted (in USD per share) $ 0.31 $ 0.32 $ 0.03
Weighted average common shares outstanding:      
Basic (in shares) 3,916 4,062 4,330
Diluted (in shares) 3,990 4,143 4,429
Subscriber revenue      
Revenue:      
Total revenue $ 6,892 $ 6,614 $ 6,372
Advertising revenue      
Revenue:      
Total revenue 1,772 1,730 1,340
Equipment revenue      
Revenue:      
Total revenue 189 201 173
Cost of services:      
Cost of services 13 18 19
Other revenue      
Revenue:      
Total revenue 150 151 155
Revenue share and royalties      
Cost of services:      
Cost of services 2,802 2,672 2,421
Programming and content      
Cost of services:      
Cost of services 604 559 481
Customer service and billing      
Cost of services:      
Cost of services 497 501 481
Transmission      
Cost of services:      
Cost of services $ 214 $ 218 $ 177