Lumen Technologies, Inc.
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Income Statement
| Metric | FY 2025 | FY 2024 | YoY |
|---|---|---|---|
| Revenue | 12,402 | 13,108 | -5.4% |
Show Product Lines breakouts |
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| Fiber Broadband · Mass Markets | 883 | 735 | +20.1% |
| Grow · Business | 149 | 154 | -3.2% |
| Grow · Business | 1,769 | 1,544 | +14.6% |
| Grow · Business | 1,040 | 1,031 | +0.9% |
| Grow · Business | 588 | 600 | -2.0% |
| Grow · Business | 1,049 | 1,047 | +0.2% |
| Grow · Business | 4,595 | 4,376 | +5.0% |
| Harvest · Business | 27 | 43 | -37.2% |
| Harvest · Business | 298 | 383 | -22.2% |
| Harvest · Business | 293 | 366 | -19.9% |
| Harvest · Business | 453 | 390 | +16.2% |
| Harvest · Business | 993 | 1,093 | -9.1% |
| Harvest · Business | 2,064 | 2,275 | -9.3% |
| Nurture · Business | 138 | 162 | -14.8% |
| Nurture · Business | 769 | 927 | -17.0% |
| Nurture · Business | 603 | 775 | -22.2% |
| Nurture · Business | 324 | 357 | -9.2% |
| Nurture · Business | 667 | 738 | -9.6% |
| Nurture · Business | 2,501 | 2,959 | -15.5% |
| Other Broadband · Mass Markets | 950 | 1,168 | -18.7% |
| Other · Business | 11 | 14 | -21.4% |
| Other · Business | 143 | 185 | -22.7% |
| Other · Business | 37 | 40 | -7.5% |
| Other · Business | 539 | 509 | +5.9% |
| Other · Business | 5 | 8 | -37.5% |
| Other · Business | 735 | 756 | -2.8% |
| Voice and Other · Mass Markets | 674 | 839 | -19.7% |
Show Business Segments breakouts |
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| Business | 9,895 | 10,366 | -4.5% |
| Business · Operating Segments | 325 | 373 | -12.9% |
| Business · Operating Segments | 2,979 | 3,039 | -2.0% |
| Business · Operating Segments | 1,973 | 2,212 | -10.8% |
| Business · Operating Segments | 1,904 | 1,856 | +2.6% |
| Business · Operating Segments | 2,714 | 2,886 | -6.0% |
| Business · Operating Segments | 9,895 | 10,366 | -4.5% |
| Mass Markets | 2,507 | 2,742 | -8.6% |
| Mass Markets · Operating Segments | 2,507 | 2,742 | -8.6% |
| Cost of Revenue | 6,638 | 6,703 | -1.0% |
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| Business | 2,786 | 3,062 | -9.0% |
| Mass Markets | 49 | 69 | -29.0% |
| Selling, General & Administrative | 3,199 | 2,972 | +7.6% |
| Depreciation And Amortization | 2,749 | 2,956 | -7.0% |
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| Material Reconciling Items | 2,749 | 2,956 | -7.0% |
| Goodwill Impairment Loss | 628 | — | — |
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| Mass Markets | 628 | — | — |
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| Material Reconciling Items | 628 | — | — |
| Total Costs & Expenses | 13,214 | 12,648 | +4.5% |
| Operating Income | -812 | 460 | -276.5% |
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| Material Reconciling Items | -812 | 460 | -276.5% |
| Interest Expense | -1,284 | -1,372 | +6.4% |
| Gains Losses On Extinguishment Of Debt | -740 | 348 | -312.6% |
Show Debt Instrument breakouts |
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| First Lien Notes Due 2033 · Level 3 Financing, Inc. | -236 | — | — |
| First Lien Notes Due 2034 · Level 3 Financing, Inc. | -344 | — | — |
| Term Loan B-1 and Term Loan B-2 · Level 3 Financing, Inc. | -35 | — | — |
| Term Loan B-3 · Level 3 Financing, Inc. | -56 | — | — |
| Other Non-Operating Income (Expense) | 120 | 334 | -64.1% |
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| Accumulated Defined Benefit Plans Adjustment Net Prior Service Cost Credit · Reclassification Out Of Accumulated Other Comprehensive Income | 9 | 15 | -40.0% |
| Accumulated Defined Benefit Plans Adjustment Net Unamortized Gain Loss · Reclassification Out Of Accumulated Other Comprehensive Income | -119 | -91 | -30.8% |
| Non-Operating Income (Expense) | -1,904 | -690 | -175.9% |
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| Material Reconciling Items | -1,904 | -690 | -175.9% |
| Income Before Taxes | -2,716 | -230 | -1080.9% |
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| Accumulated Defined Benefit Plans Adjustment · Reclassification Out Of Accumulated Other Comprehensive Income | -110 | -76 | -44.7% |
| Income Tax Expense (Benefit) | -977 | -175 | -458.3% |
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| Accumulated Defined Benefit Plans Adjustment · Reclassification Out Of Accumulated Other Comprehensive Income | -28 | -19 | -47.4% |
| Net Income | -1,739 | -55 | -3061.8% |
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| Accumulated Defined Benefit Plans Adjustment · Reclassification Out Of Accumulated Other Comprehensive Income | -82 | -57 | -43.9% |
| Retained Earnings | -1,739 | -55 | -3061.8% |
| EPS (Basic) | -1.75 | -0.06 | -2816.7% |
| EPS (Diluted) | -1.75 | -0.06 | -2816.7% |
| Wtd Avg Shares (Basic) | 994,548 | 987,680 | +0.7% |
| Wtd Avg Shares (Diluted) | 994,548 | 987,680 | +0.7% |
| Revenue | 11,331 | 12,129 | -6.6% |
Show Product Lines breakouts |
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| Fiber Broadband · Mass Markets | 870 | 722 | +20.5% |
| Grow · Business | 146 | 150 | -2.7% |
| Grow · Business | 1,368 | 1,288 | +6.2% |
| Grow · Business | 1,014 | 1,006 | +0.8% |
| Grow · Business | 483 | 515 | -6.2% |
| Grow · Business | 759 | 760 | -0.1% |
| Grow · Business | 3,770 | 3,719 | +1.4% |
| Harvest · Business | 27 | 43 | -37.2% |
| Harvest · Business | 298 | 383 | -22.2% |
| Harvest · Business | 289 | 362 | -20.2% |
| Harvest · Business | 452 | 386 | +17.1% |
| Harvest · Business | 856 | 953 | -10.2% |
| Harvest · Business | 1,922 | 2,127 | -9.6% |
| Nurture · Business | 138 | 162 | -14.8% |
| Nurture · Business | 769 | 927 | -17.0% |
| Nurture · Business | 603 | 775 | -22.2% |
| Nurture · Business | 324 | 357 | -9.2% |
| Nurture · Business | 643 | 719 | -10.6% |
| Nurture · Business | 2,477 | 2,940 | -15.7% |
| Other Broadband · Mass Markets | 860 | 1,063 | -19.1% |
| Other · Business | 11 | 14 | -21.4% |
| Other · Business | 143 | 184 | -22.3% |
| Other · Business | 37 | 35 | +5.7% |
| Other · Business | 539 | 509 | +5.9% |
| Other · Business | 5 | 8 | -37.5% |
| Other · Business | 735 | 750 | -2.0% |
| Voice and Other · Mass Markets | 697 | 808 | -13.7% |
Show Business Segments breakouts |
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| Business · Operating Segments | 322 | 369 | -12.7% |
| Business · Operating Segments | 2,578 | 2,782 | -7.3% |
| Business · Operating Segments | 1,943 | 2,178 | -10.8% |
| Business · Operating Segments | 1,798 | 1,767 | +1.8% |
| Business · Operating Segments | 2,263 | 2,440 | -7.3% |
| Business · Operating Segments | 8,904 | 9,536 | -6.6% |
| Mass Markets · Operating Segments | 2,427 | 2,593 | -6.4% |
Show Timing Of Transfer Of Good Or Service breakouts |
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| Transferred At Point In Time | 137 | 136 | +0.7% |
| Transferred Over Time | 11,194 | 11,993 | -6.7% |
| Other Revenue | -1,071 | -979 | -9.4% |
Show Product Lines breakouts |
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| Fiber Broadband · Mass Markets | -13 | -13 | 0.0% |
| Grow · Business | -3 | -4 | +25.0% |
| Grow · Business | -401 | -256 | -56.6% |
| Grow · Business | -26 | -25 | -4.0% |
| Grow · Business | -105 | -85 | -23.5% |
| Grow · Business | -290 | -287 | -1.0% |
| Grow · Business | -825 | -657 | -25.6% |
| Harvest · Business | -4 | -4 | 0.0% |
| Harvest · Business | -1 | -4 | +75.0% |
| Harvest · Business | -137 | -140 | +2.1% |
| Harvest · Business | -142 | -148 | +4.1% |
| Nurture · Business | -24 | -19 | -26.3% |
| Nurture · Business | -24 | -19 | -26.3% |
| Other Broadband · Mass Markets | -90 | -105 | +14.3% |
| Voice and Other · Mass Markets | 23 | -31 | +174.2% |
Show Business Segments breakouts |
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| Business · Operating Segments | -3 | -4 | +25.0% |
| Business · Operating Segments | -401 | -257 | -56.0% |
| Business · Operating Segments | -30 | -34 | +11.8% |
| Business · Operating Segments | -106 | -89 | -19.1% |
| Business · Operating Segments | -451 | -446 | -1.1% |
| Business · Operating Segments | -991 | -830 | -19.4% |
| Mass Markets · Operating Segments | -80 | -149 | +46.3% |
| Comprehensive Income | -1,617 | 32 | -5153.1% |
| Other Comprehensive Income | 122 | 87 | +40.2% |
Show Retirement Plan Type breakouts |
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| Other Postretirement Benefit Plans Defined Benefit · Accumulated Defined Benefit Plans Adjustment | -49 | 44 | -211.4% |
| Pension Plans Defined Benefit · Accumulated Defined Benefit Plans Adjustment | 155 | 42 | +269.0% |
Show Equity Components breakouts |
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| Accumulated Defined Benefit Plans Adjustment | 106 | 86 | +23.3% |
| Accumulated Other Comprehensive Income | 122 | 87 | +40.2% |
| Accumulated Translation Adjustment | 16 | 1 | +1500.0% |
| Operating Lease Lease Income | 1.1 | 1 | +10.0% |
| Interest Expense | 1,284 | 1,372 | -6.4% |
| Net Income Loss Available To Common Stockholders Basic | -1,739 | -55 | -3061.8% |
Balance Sheet
| Metric | FY 2025 | FY 2024 | YoY |
|---|---|---|---|
| Current Assets | |||
| Cash & Cash Equivalents | 1,003 | 1,889 | -46.9% |
| Accounts Receivable | 1,314 | 1,231 | +6.7% |
| Assets Of Disposal Group Including Discontinued Operation Current | 4,285 | 24 | +17754.2% |
| Other Assets Current | 1,307 | 1,250 | +4.6% |
| Total Current Assets | 7,909 | 4,394 | +80.0% |
| Non-Current Assets | |||
| Intangible Assets Net Excluding Goodwill | 4,463 | 4,806 | -7.1% |
| Other Non-Current Assets | 2,395 | 1,911 | +25.3% |
| Intangible Assets Net Including Goodwill And Other Assets Noncurrent | 6,858 | 8,681 | -21.0% |
| Total Assets | 34,342 | 33,496 | +2.5% |
| Operating Lease Right-of-Use Assets | 1,291 | 1,119 | +15.4% |
| Intangible Assets | 4,463 | — | — |
Show Finite Lived Intangible Assets By Major Class breakouts |
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| Computer Software Intangible Asset | 1,803 | 1,529 | +17.9% |
| Customer Relationships | 2,602 | 3,196 | -18.6% |
| Patents and Other | 58 | 72 | -19.4% |
| Deferred Tax Assets | 145 | 96 | +51.0% |
| Other Assets | |||
| Property Plant And Equipment And Finance Lease Right Of Use Asset After Accumulated Depreciation And Amortization | 19,575 | 20,421 | -4.1% |
| Current Liabilities | |||
| Long Term Debt And Capital Lease Obligations Current | 88 | 412 | -78.6% |
| Accounts Payable | 1,508 | 749 | +101.3% |
| Employee Related Liabilities Current | 854 | 716 | +19.3% |
| Taxes Payable Current | 279 | 272 | +2.6% |
| Operating Lease Liability Current | 266 | 253 | +5.1% |
| Interest Payable Current | 149 | 197 | -24.4% |
| Other Liabilities Current | 203 | 179 | +13.4% |
| Liabilities Of Disposal Group Including Discontinued Operation Current | 38 | — | — |
| Deferred Revenue | 1,005 | 861 | +16.7% |
| Total Current Liabilities | 4,390 | 3,639 | +20.6% |
| Non-Current Liabilities | |||
| Deferred Tax Liabilities | 2,270 | 2,890 | -21.5% |
| Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent | 2,103 | 2,205 | -4.6% |
Show Retirement Plan Type breakouts |
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| Other Postretirement Benefit Plans Defined Benefit | 1,517 | 1,563 | -2.9% |
| Pension Plans Defined Benefit | 559 | 615 | -9.1% |
| Deferred Revenue Noncurrent | 6,406 | 3,733 | +71.6% |
| Other Non-Current Liabilities | 2,937 | 3,071 | -4.4% |
| Deferred Credits And Other Liabilities Noncurrent | 13,716 | 11,899 | +15.3% |
| Operating Lease Liabilities | 1,113 | 959 | +16.1% |
| Contract With Customer Liability Noncurrent | 647 | 733 | -11.7% |
Show Disposal Group Classification breakouts |
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| Disposal Group Heldforsale Not Discontinued Operations · Mass Markets Fiber-To-The Home Business | 32 | — | — |
| Other Liabilities | |||
| Long Term Debt And Capital Lease Obligations | 17,353 | 17,494 | -0.8% |
| Stockholders' Equity | |||
| Common Stock | 19,185 | 19,149 | +0.2% |
| Accumulated Other Comprehensive Income | -601 | -723 | +16.9% |
| Retained Earnings | -19,701 | -17,962 | -9.7% |
| Total Stockholders' Equity | -1,117 | 464 | -340.7% |
Show Retirement Plan Type breakouts |
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| Other Postretirement Benefit Plans Defined Benefit · Accumulated Defined Benefit Plans Adjustment | 271 | 320 | -15.3% |
| Pension Plans Defined Benefit · Accumulated Defined Benefit Plans Adjustment | -848 | -1,003 | +15.5% |
Show Equity Components breakouts |
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| Accumulated Defined Benefit Plans Adjustment | -577 | -683 | +15.5% |
| Accumulated Other Comprehensive Income | -601 | -723 | +16.9% |
| Accumulated Translation Adjustment | -24 | -40 | +40.0% |
| Common Stock | 19,185 | 19,149 | +0.2% |
| Retained Earnings | -19,701 | -17,962 | -9.7% |
| Total Liabilities & Equity | 34,342 | 33,496 | +2.5% |
Cash Flow Statement
| Metric | FY 2025 | FY 2024 | YoY |
|---|---|---|---|
| Operating Activities | |||
| Depreciation & Amortization | 2,749 | 2,956 | -7.0% |
| Impairment Of Long Lived Assets To Be Disposed Of | 109 | 83 | +31.3% |
| Deferred Income Taxes And Tax Credits | -705 | -209 | -237.3% |
| Provision For Doubtful Accounts | 70 | 72 | -2.8% |
| Stock-Based Compensation | 48 | 29 | +65.5% |
| Change in Accounts Receivable | -168 | 19 | -984.2% |
| Change in Accounts Payable | 632 | -202 | +412.9% |
| Increase Decrease In Accrued Taxes Payable | 20 | -189 | +110.6% |
| Increase Decrease In Other Current Assets And Liabilities Net | 98 | 304 | -67.8% |
| Increase Decrease In Pension And Postretirement Obligations | 30 | -181 | +116.6% |
| Increase Decrease In Deferred Revenue | 2,673 | 1,763 | +51.6% |
| Increase Decrease In Other Noncurrent Assets And Liabilities Net | -525 | 655 | -180.2% |
| Other Operating Activities Cash Flow Statement | 78 | -107 | +172.9% |
| Net Cash from Operations | 4,738 | 4,333 | +9.3% |
| Deferred Income Taxes | -705 | — | — |
| Investing Activities | |||
| Payments To Acquire Productive Assets | -4,367 | -3,231 | -35.2% |
| Proceeds From Sale Of Productive Assets | 47 | 366 | -87.2% |
| Other Investing Activities | 15 | 20 | -25.0% |
| Net Cash from Investing | -4,305 | -2,830 | -52.1% |
| Cancellation Of Debt (FY) | — | — | — |
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| Medium Term Notes | -2,267 | — | — |
| Notes Issued1 (FY) | — | — | — |
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| Medium Term Notes | 2,267 | — | — |
| Financing Activities | |||
| Proceeds From Issuance Of Long Term Debt | 8,158 | 1,325 | +515.7% |
| Repayments Of Long Term Debt | -8,818 | -2,678 | -229.3% |
| Payments Of Dividends | -1 | -3 | +66.7% |
| Payments Of Debt Issuance And Extinguishment Costs And Related Fees | -645 | -283 | -127.9% |
| Proceeds From Payments For Other Financing Activities | -13 | -12 | -8.3% |
| Net Cash from Financing | -1,319 | -1,851 | +28.7% |
| Supplemental | |||
| Income Taxes Paid | -18 | 242 | -107.4% |
| Interest Paid | -1,219 | -1,245 | +2.1% |
| Unpaid Capital Expenditures | 463 | 248 | +86.7% |
| Other Cash Flow | |||
| Net Change in Cash | -886 | -348 | -154.6% |
| Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents | 1,014 | 1,900 | -46.6% |
| Restricted Cash Current | 3 | 2 | +50.0% |
| Restricted Cash Noncurrent | 8 | 9 | -11.1% |
Values in millions USD. Source: SEC EDGAR 10-K filing.