As discussed in Notes 1 and 8, on February 2, 2026, we acquired substantially all of Lumen’s Mass Markets fiber business, including fiber network assets that are held in a new, wholly owned subsidiary, Forged Fiber, which is reflected as discontinued operations. Forged Fiber will continue to support the accompanying acquired fiber customers retained by our Advanced Connectivity segment. To reflect ongoing commercial arrangements following the disposal, results have been presented on a gross basis, with approximately $95 of operating expenses reported in continuing operations and the corresponding revenues reported in discontinued operations. Discontinued operations were also allocated a proportionate share of goodwill, acquisition-related costs and related cash flows.


	2026
Revenues	$	99
Operating Expenses
Cost of revenues	51
Selling, general and administrative1	81


Total operating expenses	132


Other income (expense) – net	(17)

Net income (loss) before income taxes	(50)
Income tax (benefit) expense	(12)
Loss from discontinued operations, net of tax	$	(38)
1Includes proportionate transaction costs.

The following are the preliminary values for the major classes of assets and liabilities associated with our discontinued operations and classified as held-for-sale on our consolidated balance sheet at March 31:


	2026
Assets:
Current Assets	$	132
Property, Plant and Equipment1	3,544
Goodwill	392

Other Assets	204
Total Assets, discontinued operations2	$	4,272

Liabilities:
Current liabilities	$	185
Other liabilities	1
Total Liabilities, discontinued operations2	$	186
1Includes $71 of capital additions after acquisition.
2Held-for-sale assets are reported in “Other current assets” and held-for-sale liabilities are reported in “Accounts payable and accrued liabilities.”