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 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Revenue:        
Total revenue $ 2,178 $ 2,250 $ 4,340 $ 4,394
Cost of services:        
Subscriber acquisition costs 92 93 182 183
Sales and marketing 228 220 457 443
Engineering, design and development 71 83 157 162
General and administrative 108 157 223 303
Depreciation and amortization 133 139 273 275
Impairment, restructuring and acquisition costs 18 18 46 50
Total operating expenses 1,673 1,771 3,398 3,503
Income from operations 505 479 942 891
Other (expense) income:        
Interest expense (102) (107) (206) (213)
Other income 2 0 14 3
Total other expense (100) (107) (192) (210)
Income before income taxes 405 372 750 681
Income tax expense (89) (62) (168) (138)
Net income 316 310 582 543
Foreign currency translation adjustment, net of tax (3) 7 (10) 7
Total comprehensive income $ 313 $ 317 $ 572 $ 550
Net income per common share:        
Basic (in USD per share) $ 0.08 $ 0.08 $ 0.15 $ 0.14
Diluted (in USD per share) $ 0.08 $ 0.08 $ 0.15 $ 0.14
Weighted average common shares outstanding:        
Basic (in shares) 3,848 3,861 3,846 3,875
Diluted (in shares) 3,855 3,873 3,858 3,892
Subscriber revenue        
Revenue:        
Total revenue $ 1,658 $ 1,725 $ 3,338 $ 3,417
Advertising revenue        
Revenue:        
Total revenue 443 445 845 819
Equipment revenue        
Revenue:        
Total revenue 47 47 97 93
Cost of services:        
Cost of services 2 3 5 7
Other revenue        
Revenue:        
Total revenue 30 33 60 65
Revenue share and royalties        
Cost of services:        
Cost of services 708 732 1,411 1,432
Programming and content        
Cost of services:        
Cost of services 148 153 305 303
Customer service and billing        
Cost of services:        
Cost of services 108 123 224 246
Transmission        
Cost of services:        
Cost of services $ 57 $ 50 $ 115 $ 99