$CTBB
Stock $ctbb

$ctbb Overview Financials Valuation SEC Filings Company Website

2023 Q2 Form 10-Q Financial Statement

#000006862223000008 Filed on May 03, 2023

Income Statement

Concept	2023 Q2	2023 Q1	2022 Q4
Revenue	$1.467B	$1.541B
YoY Change	-10.11%	-6.94%
Cost Of Revenue	$404.0M	$387.0M
YoY Change	-2.42%	-5.15%
Gross Profit	$1.063B	$1.154B
YoY Change	-12.73%	-7.53%
Gross Profit Margin	72.46%	74.89%
Selling, General & Admin	$116.0M	$128.0M
YoY Change	1.75%	17.43%
% of Gross Profit	10.91%	11.09%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization		$197.0M
YoY Change		-6.19%
% of Gross Profit		17.07%
Operating Expenses	$116.0M	$128.0M
YoY Change	1.75%	17.43%
Operating Profit	$560.0M	$638.0M
YoY Change	-20.79%	-15.27%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net	-$21.00M	-$25.00M
YoY Change	-54.35%	-45.65%
Pretax Income	$539.0M	$613.0M
YoY Change	-18.46%	-13.3%
Income Tax	$141.0M	$159.0M
% Of Pretax Income	26.16%	25.94%
Net Earnings	$398.0M	$454.0M
YoY Change	-19.11%	-14.02%
Net Earnings / Revenue	27.13%	29.46%
Basic Earnings Per Share
Diluted Earnings Per Share
COMMON SHARES
Basic Shares Outstanding	1.000 shares	1.000 shares	1.000 shares
Diluted Shares Outstanding

Balance Sheet

Concept	2023 Q2	2023 Q1	2022 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents	$5.000M	$4.000M	$8.000M
Short-Term Investments
Other Short-Term Assets	$157.0M	$169.0M	$120.0M
YoY Change	17.16%	-11.52%	-35.83%
Inventory
Prepaid Expenses	$59.00M	$68.00M	$46.00M
Receivables	$351.0M	$338.0M	$309.0M
Other Receivables
Total Short-Term Assets	$1.819B	$1.489B	$1.013B
YoY Change	27.29%	54.94%	106.73%
LONG-TERM ASSETS
Property, Plant & Equipment	$8.449B	$8.338B	$8.273B
YoY Change	3.01%	1.88%	1.14%
Goodwill	$9.360B	$9.360B	$9.360B
YoY Change	0.0%	0.0%	0.0%
Intangibles	$120.0M	$129.0M	$138.0M
YoY Change	-29.41%	-30.65%	-30.65%
Long-Term Investments
YoY Change
Other Assets	$157.0M	$154.0M	$141.0M
YoY Change	16.3%	12.41%	0.0%
Total Long-Term Assets	$18.09B	$17.98B	$17.91B
YoY Change	1.23%	0.64%	0.18%
TOTAL ASSETS
Total Short-Term Assets	$1.819B	$1.489B	$1.013B
Total Long-Term Assets	$18.09B	$17.98B	$17.91B
Total Assets	$19.91B	$19.47B	$18.93B
YoY Change	3.16%	3.41%	3.02%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$356.0M	$305.0M	$213.0M
YoY Change	49.58%	38.64%	3.4%
Accrued Expenses	$57.00M		$57.00M
YoY Change
Deferred Revenue	$176.0M	$169.0M	$167.0M
YoY Change	1.73%	-2.87%	-4.02%
Short-Term Debt
YoY Change
Long-Term Debt Due	$1.000M	$1.000M	$2.000M
YoY Change
Total Short-Term Liabilities	$856.0M	$834.0M	$728.0M
YoY Change	-56.61%	-57.98%	-64.24%
LONG-TERM LIABILITIES
Long-Term Debt
YoY Change
Other Long-Term Liabilities	$700.0M	$664.0M	$654.0M
YoY Change	6.71%	1.07%	-2.39%
Total Long-Term Liabilities	$700.0M	$664.0M	$654.0M
YoY Change	6.71%	1.07%	-2.39%
TOTAL LIABILITIES
Total Short-Term Liabilities	$856.0M	$834.0M	$728.0M
Total Long-Term Liabilities	$700.0M	$664.0M	$654.0M
Total Liabilities	$1.556B	$1.498B	$1.382B
YoY Change	-40.81%	-43.3%	-48.93%
SHAREHOLDERS EQUITY
Retained Earnings	$4.356B	$3.958B	$3.504B
YoY Change	67.22%	87.32%	121.07%
Common Stock	$10.05B	$10.05B	$10.05B
YoY Change	0.0%	0.0%	0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity	$14.41B	$14.01B	$13.55B
YoY Change
Total Liabilities & Shareholders Equity	$19.91B	$19.47B	$18.93B
YoY Change	3.16%	3.41%	3.02%

Cashflow Statement

Concept	2023 Q2	2023 Q1
OPERATING ACTIVITIES
Net Income	$398.0M	$454.0M
YoY Change	-19.11%	-14.02%
Depreciation, Depletion And Amortization		$197.0M
YoY Change		-6.19%
Cash From Operating Activities		$596.0M
YoY Change		-13.25%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities		-$598.0M
YoY Change		-4.32%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net		$2.000M
YoY Change
Cash From Financing Activities		-$2.000M
YoY Change		-96.36%
NET CHANGE
Cash From Operating Activities		$596.0M
Cash From Investing Activities		-$598.0M
Cash From Financing Activities		-$2.000M
Net Change In Cash		-$4.000M
YoY Change		-157.14%
FREE CASH FLOW
Cash From Operating Activities		$596.0M
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value	Unit
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CY2023Q1	dei	Current Fiscal Year End Date CurrentFiscalYearEndDate	--12-31
CY2023Q1	dei	Document Fiscal Year Focus DocumentFiscalYearFocus	2023
CY2023Q1	dei	Document Fiscal Period Focus DocumentFiscalPeriodFocus	Q1
CY2023Q1	dei	Entity Current Reporting Status EntityCurrentReportingStatus	Yes
CY2023Q1	dei	Local Phone Number LocalPhoneNumber	388-9000
CY2023Q1	dei	Amendment Flag AmendmentFlag	false
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CY2023Q1	us-gaap	Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1 RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1	P1Y
CY2023Q1	us-gaap	Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1 RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1	P3Y
CY2023Q1	dei	Document Type DocumentType	10-Q
CY2023Q1	dei	Document Quarterly Report DocumentQuarterlyReport	true
CY2023Q1	dei	Document Period End Date DocumentPeriodEndDate	2023-03-31
CY2023Q1	dei	Document Transition Report DocumentTransitionReport	false
CY2023Q1	dei	Entity File Number EntityFileNumber	001-03040
CY2023Q1	dei	Entity Registrant Name EntityRegistrantName	QWEST CORPORATION
CY2023Q1	dei	Entity Incorporation State Country Code EntityIncorporationStateCountryCode	CO
CY2023Q1	dei	Entity Tax Identification Number EntityTaxIdentificationNumber	84-0273800
CY2023Q1	dei	Entity Address Address Line1 EntityAddressAddressLine1	100 CenturyLink Drive,
CY2023Q1	dei	Entity Address City Or Town EntityAddressCityOrTown	Monroe,
CY2023Q1	dei	Entity Address State Or Province EntityAddressStateOrProvince	LA
CY2023Q1	dei	Entity Address Postal Zip Code EntityAddressPostalZipCode	71203
CY2023Q1	dei	City Area Code CityAreaCode	318
CY2023Q1	dei	Entity Interactive Data Current EntityInteractiveDataCurrent	Yes
CY2023Q1	dei	Entity Filer Category EntityFilerCategory	Non-accelerated Filer
CY2023Q1	dei	Entity Small Business EntitySmallBusiness	false
CY2023Q1	dei	Entity Emerging Growth Company EntityEmergingGrowthCompany	false
CY2023Q1	dei	Entity Shell Company EntityShellCompany	false
CY2023Q2	dei	Entity Common Stock Shares Outstanding EntityCommonStockSharesOutstanding	1	shares
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CY2023Q1	us-gaap	Cost Of Goods And Services Sold CostOfGoodsAndServicesSold	387000000	usd
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CY2023Q1	us-gaap	Restricted Cash Noncurrent RestrictedCashNoncurrent	2000000	usd
CY2022Q1	us-gaap	Restricted Cash Noncurrent RestrictedCashNoncurrent	2000000	usd
CY2023Q1	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	6000000	usd
CY2022Q1	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	11000000	usd
CY2023Q1	us-gaap	Stockholders Equity StockholdersEquity	14008000000	usd
CY2022Q1	us-gaap	Stockholders Equity StockholdersEquity	12163000000	usd
CY2023Q1	us-gaap	Number Of States In Which Entity Operates NumberOfStatesInWhichEntityOperates	14	state
CY2023Q1	us-gaap	Number Of Reportable Segments NumberOfReportableSegments	1	segment
CY2023Q1	us-gaap	Goodwill Goodwill	9360000000	usd
CY2022Q4	us-gaap	Goodwill Goodwill	9360000000	usd
CY2023Q1	us-gaap	Number Of Reporting Units NumberOfReportingUnits	1	reporting_unit
CY2023Q1	lumn	Intangible Assets Gross Including Goodwill IntangibleAssetsGrossIncludingGoodwill	11400000000	usd
CY2023Q1	us-gaap	Amortization Of Intangible Assets AmortizationOfIntangibleAssets	17000000	usd
CY2022Q1	us-gaap	Amortization Of Intangible Assets AmortizationOfIntangibleAssets	19000000	usd
CY2023Q1	us-gaap	Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear	48000000	usd
CY2023Q1	us-gaap	Finite Lived Intangible Assets Amortization Expense Next Twelve Months FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths	32000000	usd
CY2023Q1	us-gaap	Finite Lived Intangible Assets Amortization Expense Year Two FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo	16000000	usd
CY2023Q1	us-gaap	Finite Lived Intangible Assets Amortization Expense Year Three FiniteLivedIntangibleAssetsAmortizationExpenseYearThree	10000000	usd
CY2023Q1	us-gaap	Finite Lived Intangible Assets Amortization Expense Year Four FiniteLivedIntangibleAssetsAmortizationExpenseYearFour	7000000	usd
CY2023Q1	us-gaap	Revenues Revenues	1541000000	usd
CY2023Q1	us-gaap	Revenue Not From Contract With Customer RevenueNotFromContractWithCustomer	82000000	usd
CY2023Q1	us-gaap	Revenue From Contract With Customer Excluding Assessed Tax RevenueFromContractWithCustomerExcludingAssessedTax	1459000000	usd
CY2022Q1	us-gaap	Revenues Revenues	1656000000	usd
CY2022Q1	us-gaap	Revenue Not From Contract With Customer RevenueNotFromContractWithCustomer	104000000	usd
CY2022Q1	us-gaap	Revenue From Contract With Customer Excluding Assessed Tax RevenueFromContractWithCustomerExcludingAssessedTax	1552000000	usd
CY2023Q1	us-gaap	Operating Lease Lease Income OperatingLeaseLeaseIncome	80000000	usd
CY2022Q1	us-gaap	Operating Lease Lease Income OperatingLeaseLeaseIncome	88000000	usd
CY2022Q1	lumn	Operating Lease Lease Income Percentof Operating Revenue OperatingLeaseLeaseIncomePercentofOperatingRevenue	0.05
CY2023Q1	lumn	Operating Lease Lease Income Percentof Operating Revenue OperatingLeaseLeaseIncomePercentofOperatingRevenue	0.05
CY2023Q1	us-gaap	Accounts Receivable Net AccountsReceivableNet	332000000	usd
CY2022Q4	us-gaap	Accounts Receivable Net AccountsReceivableNet	297000000	usd
CY2023Q1	us-gaap	Contract With Customer Asset Net ContractWithCustomerAssetNet	9000000	usd
CY2022Q4	us-gaap	Contract With Customer Asset Net ContractWithCustomerAssetNet	9000000	usd
CY2023Q1	us-gaap	Contract With Customer Liability ContractWithCustomerLiability	343000000	usd
CY2022Q4	us-gaap	Contract With Customer Liability ContractWithCustomerLiability	343000000	usd
CY2023Q1	us-gaap	Accounts Receivable Gross AccountsReceivableGross	357000000	usd
CY2022Q4	us-gaap	Accounts Receivable Gross AccountsReceivableGross	324000000	usd
CY2023Q1	us-gaap	Allowance For Doubtful Accounts Receivable AllowanceForDoubtfulAccountsReceivable	25000000	usd
CY2022Q4	us-gaap	Allowance For Doubtful Accounts Receivable AllowanceForDoubtfulAccountsReceivable	27000000	usd
CY2023Q1	us-gaap	Contract With Customer Liability Revenue Recognized ContractWithCustomerLiabilityRevenueRecognized	139000000	usd
CY2022Q1	us-gaap	Contract With Customer Liability Revenue Recognized ContractWithCustomerLiabilityRevenueRecognized	150000000	usd
CY2023Q1	us-gaap	Contract With Customer Liability ContractWithCustomerLiability	343000000	usd
CY2022Q1	us-gaap	Contract With Customer Liability ContractWithCustomerLiability	317000000	usd
CY2023Q1	us-gaap	Revenue Remaining Performance Obligation RevenueRemainingPerformanceObligation	1700000000	usd
CY2023Q1	us-gaap	Revenue Remaining Performance Obligation RevenueRemainingPerformanceObligation	711000000	usd
CY2023Q1	us-gaap	Revenue Remaining Performance Obligation RevenueRemainingPerformanceObligation	436000000	usd
CY2023Q1	us-gaap	Revenue Remaining Performance Obligation RevenueRemainingPerformanceObligation	545000000	usd
CY2022Q4	us-gaap	Financing Receivable Allowance For Credit Losses FinancingReceivableAllowanceForCreditLosses	36000000	usd
CY2023Q1	us-gaap	Provision For Loan Losses Expensed ProvisionForLoanLossesExpensed	13000000	usd
CY2023Q1	us-gaap	Financing Receivable Allowance For Credit Losses Write Offs FinancingReceivableAllowanceForCreditLossesWriteOffs	15000000	usd
CY2023Q1	us-gaap	Financing Receivable Allowance For Credit Losses FinancingReceivableAllowanceForCreditLosses	34000000	usd
CY2023Q1	us-gaap	Debt Instrument Unamortized Discount Premium Net DebtInstrumentUnamortizedDiscountPremiumNet	-4000000	usd
CY2022Q4	us-gaap	Debt Instrument Unamortized Discount Premium Net DebtInstrumentUnamortizedDiscountPremiumNet	-5000000	usd
CY2023Q1	us-gaap	Deferred Finance Costs Net DeferredFinanceCostsNet	52000000	usd
CY2022Q4	us-gaap	Deferred Finance Costs Net DeferredFinanceCostsNet	52000000	usd
CY2023Q1	us-gaap	Long Term Debt And Capital Lease Obligations Including Current Maturities LongTermDebtAndCapitalLeaseObligationsIncludingCurrentMaturities	2157000000	usd
CY2022Q4	us-gaap	Long Term Debt And Capital Lease Obligations Including Current Maturities LongTermDebtAndCapitalLeaseObligationsIncludingCurrentMaturities	2157000000	usd
CY2023Q1	us-gaap	Long Term Debt And Capital Lease Obligations Current LongTermDebtAndCapitalLeaseObligationsCurrent	1000000	usd
CY2022Q4	us-gaap	Long Term Debt And Capital Lease Obligations Current LongTermDebtAndCapitalLeaseObligationsCurrent	2000000	usd
CY2023Q1	us-gaap	Long Term Debt And Capital Lease Obligations LongTermDebtAndCapitalLeaseObligations	2156000000	usd
CY2022Q4	us-gaap	Long Term Debt And Capital Lease Obligations LongTermDebtAndCapitalLeaseObligations	2155000000	usd
CY2023Q1	us-gaap	Long Term Debt And Capital Lease Obligations Maturities Repayments Of Principal Remainder Of Fiscal Year LongTermDebtAndCapitalLeaseObligationsMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear	0	usd
CY2023Q1	us-gaap	Long Term Debt And Capital Lease Obligations Maturities Repayments Of Principal In Year Two LongTermDebtAndCapitalLeaseObligationsMaturitiesRepaymentsOfPrincipalInYearTwo	1000000	usd
CY2023Q1	us-gaap	Long Term Debt And Capital Lease Obligations Maturities Repayments Of Principal In Year Three LongTermDebtAndCapitalLeaseObligationsMaturitiesRepaymentsOfPrincipalInYearThree	251000000	usd
CY2023Q1	us-gaap	Long Term Debt And Capital Lease Obligations Maturities Repayments Of Principal In Year Four LongTermDebtAndCapitalLeaseObligationsMaturitiesRepaymentsOfPrincipalInYearFour	0	usd
CY2023Q1	us-gaap	Long Term Debt And Capital Lease Obligations Maturities Repayments Of Principal In Year Five LongTermDebtAndCapitalLeaseObligationsMaturitiesRepaymentsOfPrincipalInYearFive	215000000	usd
CY2023Q1	lumn	Long Term Debt And Capital Lease Obligations Maturities Repayments Of Principal In Year Six And Thereafter LongTermDebtAndCapitalLeaseObligationsMaturitiesRepaymentsOfPrincipalInYearSixAndThereafter	1738000000	usd
CY2023Q1	us-gaap	Debt And Capital Lease Obligations DebtAndCapitalLeaseObligations	2205000000	usd
CY2023Q1	us-gaap	Liability For Uncertain Tax Positions Noncurrent LiabilityForUncertainTaxPositionsNoncurrent	434000000	usd
CY2022Q4	us-gaap	Liability For Uncertain Tax Positions Noncurrent LiabilityForUncertainTaxPositionsNoncurrent	427000000	usd
CY2023Q1	us-gaap	Capitalized Contract Cost Net Current CapitalizedContractCostNetCurrent	37000000	usd
CY2022Q4	us-gaap	Capitalized Contract Cost Net Current CapitalizedContractCostNetCurrent	38000000	usd
CY2023Q1	us-gaap	Loss Contingency Estimate Of Possible Loss LossContingencyEstimateOfPossibleLoss	19000000	usd
CY2023Q1	us-gaap	Loss Contingency Estimate Of Possible Loss LossContingencyEstimateOfPossibleLoss	19000000	usd
CY2023Q1	us-gaap	Loss Contingency Patents Allegedly Infringed Number LossContingencyPatentsAllegedlyInfringedNumber	1	patent
CY2022Q1	us-gaap	Dividends Common Stock Cash DividendsCommonStockCash	0	usd
CY2023Q1	us-gaap	Dividends Common Stock Cash DividendsCommonStockCash	0	usd
CY2023Q1	us-gaap	Prepaid Expense Current PrepaidExpenseCurrent	68000000	usd
CY2022Q4	us-gaap	Prepaid Expense Current PrepaidExpenseCurrent	46000000	usd
CY2022Q4	us-gaap	Other Liabilities Current OtherLiabilitiesCurrent	130000000	usd
CY2023Q1	us-gaap	Contract With Customer Asset Net Current ContractWithCustomerAssetNetCurrent	30000000	usd
CY2022Q4	us-gaap	Contract With Customer Asset Net Current ContractWithCustomerAssetNetCurrent	30000000	usd
CY2023Q1	us-gaap	Other Assets Miscellaneous Current OtherAssetsMiscellaneousCurrent	34000000	usd
CY2022Q4	us-gaap	Other Assets Miscellaneous Current OtherAssetsMiscellaneousCurrent	6000000	usd
CY2023Q1	us-gaap	Other Assets Current OtherAssetsCurrent	169000000	usd
CY2022Q4	us-gaap	Other Assets Current OtherAssetsCurrent	120000000	usd
CY2023Q1	us-gaap	Due To Affiliate Current DueToAffiliateCurrent	57000000	usd
CY2022Q4	us-gaap	Due To Affiliate Current DueToAffiliateCurrent	57000000	usd
CY2023Q1	us-gaap	Operating Lease Liability Current OperatingLeaseLiabilityCurrent	22000000	usd
CY2022Q4	us-gaap	Operating Lease Liability Current OperatingLeaseLiabilityCurrent	21000000	usd
CY2023Q1	lumn	Other Liabilities Miscellaneous Current OtherLiabilitiesMiscellaneousCurrent	48000000	usd
CY2022Q4	lumn	Other Liabilities Miscellaneous Current OtherLiabilitiesMiscellaneousCurrent	52000000	usd
CY2023Q1	us-gaap	Other Liabilities Current OtherLiabilitiesCurrent	127000000	usd
CY2023Q1	us-gaap	Operating Lease Liability Noncurrent OperatingLeaseLiabilityNoncurrent	58000000	usd
CY2022Q4	us-gaap	Operating Lease Liability Noncurrent OperatingLeaseLiabilityNoncurrent	58000000	usd
CY2023Q1	us-gaap	Deferred Income Taxes And Other Liabilities Noncurrent DeferredIncomeTaxesAndOtherLiabilitiesNoncurrent	172000000	usd
CY2022Q4	us-gaap	Deferred Income Taxes And Other Liabilities Noncurrent DeferredIncomeTaxesAndOtherLiabilitiesNoncurrent	169000000	usd
CY2023Q1	us-gaap	Other Liabilities Noncurrent OtherLiabilitiesNoncurrent	664000000	usd
CY2022Q4	us-gaap	Other Liabilities Noncurrent OtherLiabilitiesNoncurrent	654000000	usd

Files In Submission

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R8.htm	Edgar Link	pending
R9.htm	Edgar Link	pending
report.css	Edgar Link	pending
Show.js	Edgar Link	pending

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$CTBB
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2023 Q2 Form 10-Q Financial Statement

#000006862223000008 Filed on May 03, 2023

Income Statement

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Cashflow Statement

Facts In Submission

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$CTBB Stock $ctbb

2023 Q2 Form 10-Q Financial Statement

#000006862223000008 Filed on May 03, 2023

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$CTBB
Stock $ctbb