Segment Information (Tables)

12 Months Ended

Dec. 31, 2023

The following tables summarize our segment results for 2023, 2022 and 2021 based on the segment categorization we were operating under at December 31, 2023.


	Year Ended December 31, 2023
	Business		Mass Markets
	(Dollars in millions)
Segment revenue	$	11,535	3,022
Segment expense
Cost of services and products	3,138		92
Selling, general and administrative	1,232		1,341
Total expense	4,370		1,433
Total segment adjusted EBITDA	$	7,165	1,589


	Year Ended December 31, 2022
	Business		Mass Markets
	(Dollars in millions)
Segment revenue	$	13,041	4,437
Segment expense
Cost of services and products	3,257		124
Selling, general and administrative	1,215		1,623
Total expense	4,472		1,747
Total segment adjusted EBITDA	$	8,569	2,690


	Year Ended December 31, 2021
	Business		Mass Markets
	(Dollars in millions)
Segment revenue	$	14,119	5,568
Segment expense
Cost of services and products	3,488		153
Selling, general and administrative	1,273		1,685
Total expense	4,761		1,838
Total segment adjusted EBITDA	$	9,358	3,730

Schedule of reconciliation from segment income to consolidated net income

The following table reconciles total segment adjusted EBITDA to net (loss) income for the years ended December 31, 2023, 2022 and 2021:


	Years Ended December 31,
	2023		2022	2021
	(Dollars in millions)
Total segment adjusted EBITDA	$	8,754	11,259	13,088
Depreciation and amortization	(2,985)		(3,239)	(4,019)
Goodwill impairment	(10,693)		(3,271)	—
Other unallocated expense	(4,608)		(4,556)	(4,664)
Stock-based compensation	(52)		(98)	(120)
Operating (loss) income	(9,584)		95	4,285
Total other expense, net	(653)		(1,086)	(1,584)
(Loss) income before income taxes	(10,237)		(991)	2,701
Income tax expense	61		557	668
Net (loss) income	$	(10,298)	(1,548)	2,033