Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

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CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)
shares in Millions, $ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Revenue:        
Total revenue $ 2,271 $ 2,280 $ 6,665 $ 6,720
Cost of services:        
Subscriber acquisition costs 87 86 270 267
Sales and marketing 237 281 680 838
Engineering, design and development 72 70 234 208
General and administrative 119 132 421 382
Depreciation and amortization 130 134 405 404
Impairment, restructuring and acquisition costs 5 69 56 70
Total operating expenses 1,707 1,813 5,210 5,246
Income from operations 564 467 1,455 1,474
Other (expense) income:        
Interest expense (106) (107) (319) (314)
Other expense (3) (3) 0 (5)
Total other expense (109) (110) (319) (319)
Income before income taxes 455 357 1,136 1,155
Income tax expense (92) (110) (230) (307)
Net income 363 247 906 848
Foreign currency translation adjustment, net of tax (6) (21) 1 (23)
Total comprehensive income $ 357 $ 226 $ 907 $ 825
Net income per common share:        
Basic (in USD per share) $ 0.09 $ 0.06 $ 0.23 $ 0.22
Diluted (in USD per share) $ 0.09 $ 0.06 $ 0.23 $ 0.21
Weighted average common shares outstanding:        
Basic (in shares) 3,845 3,900 3,865 3,925
Diluted (in shares) 3,865 3,968 3,884 4,001
Subscriber revenue        
Revenue:        
Total revenue $ 1,729 $ 1,734 $ 5,146 $ 5,166
Advertising revenue        
Revenue:        
Total revenue 460 457 1,278 1,292
Equipment revenue        
Revenue:        
Total revenue 49 50 142 148
Cost of services:        
Cost of services 3 4 10 9
Other revenue        
Revenue:        
Total revenue 33 39 99 114
Revenue share and royalties        
Cost of services:        
Cost of services 731 709 2,162 2,090
Programming and content        
Cost of services:        
Cost of services 153 155 456 448
Customer service and billing        
Cost of services:        
Cost of services 116 122 363 373
Transmission        
Cost of services:        
Cost of services $ 54 $ 51 $ 153 $ 157