Lumen Technologies, Inc.

LUMN 10-K · FY 2025

LUMN FY 2025 request

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Income Statement

Income Statement
Metric FY 2025 FY 2024 YoY
Revenue 12,402 13,108 -5.4%
Show Product Lines breakouts
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
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%
Show Business Segments breakouts
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%
Show Consolidation Items breakouts
Material Reconciling Items 2,749 2,956 -7.0%
Goodwill Impairment Loss 628
Show Business Segments breakouts
Mass Markets 628
Show Consolidation Items breakouts
Material Reconciling Items 628
Total Costs & Expenses 13,214 12,648 +4.5%
Operating Income -812 460 -276.5%
Show Consolidation Items breakouts
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
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%
Show Equity Components breakouts
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%
Show Consolidation Items breakouts
Material Reconciling Items -1,904 -690 -175.9%
Income Before Taxes -2,716 -230 -1080.9%
Show Equity Components breakouts
Accumulated Defined Benefit Plans Adjustment · Reclassification Out Of Accumulated Other Comprehensive Income -110 -76 -44.7%
Income Tax Expense (Benefit) -977 -175 -458.3%
Show Equity Components breakouts
Accumulated Defined Benefit Plans Adjustment · Reclassification Out Of Accumulated Other Comprehensive Income -28 -19 -47.4%
Net Income -1,739 -55 -3061.8%
Show Equity Components breakouts
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
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
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
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
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
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
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
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

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
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
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
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
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
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

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)
Show Long-Term Debt Type breakouts
Medium Term Notes -2,267
Notes Issued1 (FY)
Show Long-Term Debt Type breakouts
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.

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