v3.25.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Operating activities    
Net income $ 2,953 $ 2,374
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation and amortization 3,198 3,371
Stock-based compensation expense 186 140
Deferred income tax expense 771 715
Bad debt expense 323 282
Losses from sales of receivables 22 21
Changes in operating assets and liabilities    
Accounts receivable (93) (416)
Equipment installment plan receivables 24 277
Inventory (318) 170
Operating lease right-of-use assets 855 856
Other current and long-term assets 10 160
Accounts payable and accrued liabilities (268) (1,734)
Short- and long-term operating lease liabilities (898) (1,017)
Other current and long-term liabilities (88) (172)
Other, net 170 57
Net cash provided by operating activities 6,847 5,084
Investing activities    
Purchases of property and equipment, including capitalized interest of $(10) and $(9) (2,451) (2,627)
Purchases of spectrum licenses and other intangible assets, including deposits (73) (61)
Proceeds related to beneficial interests in securitization transactions 0 890
Acquisition of companies, net of cash acquired (727) 0
Other, net (158) 11
Net cash used in investing activities (3,409) (1,787)
Financing activities    
Proceeds from issuance of long-term debt 7,774 3,473
Repayments of financing lease obligations (315) (327)
Repayments of long-term debt (479) (223)
Repurchases of common stock (2,494) (3,594)
Dividends on common stock (1,003) (769)
Tax withholdings on share-based awards (272) (192)
Other, net (18) (34)
Net cash provided by (used in) financing activities 3,193 (1,666)
Change in cash and cash equivalents, including restricted cash and cash held for sale 6,631 1,631
Cash and cash equivalents, including restricted cash    
Beginning of period 5,713 5,307
End of period $ 12,344 $ 6,938