Centurylink, inc. (CTL)
CashFlow / TTM
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11Dec'10Sep'10Jun'10Mar'10
OPERATING ACTIVITIES
Net income (loss)

1,210

-5,269

-7,904

-7,934

-8,013

-1,733

1,796

1,616

1,341

1,389

314

374

553

626

922

975

922

878

728

711

761

772

823

-410

-334

-239

-245

1,070

875

777

653

521

562

573

689

783

906

948

0

0

0

Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization

4,801

4,829

4,881

4,931

5,025

5,120

5,055

4,680

4,339

3,936

3,697

3,782

3,820

3,916

4,011

4,064

4,125

4,189

4,267

4,316

4,361

4,428

4,463

4,501

4,531

4,541

4,595

4,604

4,689

4,780

4,812

4,896

4,865

4,026

3,139

2,269

1,449

1,434

0

0

0

Impairment of goodwill and other assets

0

6,506

9,216

9,224

9,227

2,746

35

17

27

0

0

0

0

-

-

-

-

9

9

8

40

32

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred income taxes

419

440

386

366

525

522

-202

-405

-771

-931

-269

-141

-42

6

289

318

324

350

83

136

222

291

343

292

331

391

483

564

445

394

357

358

470

395

411

323

187

132

0

0

0

Provision for uncollectible accounts

134

145

150

155

152

153

168

181

176

176

175

174

193

192

193

189

181

177

177

180

171

159

151

150

155

152

154

149

158

187

203

195

189

153

0

0

0

-

-

-

-

Gain on sale of intangible assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

32

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Net long-term debt issuance costs and premium amortization

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-2

-3

6

-3

-12

-21

-31

-35

-41

-46

-62

-71

-76

-88

0

0

0

-

-

-

-

-

-

-

-

Net loss (gain) on early retirement of debt

-16

72

93

60

3

-7

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-179

0

0

0

-

-

-

-

-

-

-

-

Income from unconsolidated cellular entity

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

Distributions from unconsolidated cellular entity

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

Share-based compensation

198

162

156

167

178

186

191

163

131

111

84

83

83

80

76

75

73

73

74

75

78

79

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

Changes in current assets and liabilities:
Accounts receivable

-50

5

-26

142

87

-25

-21

5

-32

-31

106

70

176

266

199

206

79

132

143

142

250

163

218

236

118

212

123

138

206

154

172

174

109

102

53

52

78

118

0

0

0

Accounts payable

-137

-261

10

31

-101

124

-181

-184

-56

-123

-36

-77

-50

109

-32

18

-10

-168

7

-117

-133

70

-97

-124

81

-76

-120

191

92

-72

4

-174

-255

-58

-8

-24

-37

-96

0

0

0

Accrued income and other taxes

-41

20

-11

242

100

75

168

-122

-132

54

59

-222

3

-43

-217

120

56

32

128

47

-13

-84

36

28

17

28

-49

-47

-18

-14

16

-14

15

31

23

-10

-60

38

0

0

0

Other current assets and liabilities, net

62

32

154

-170

-53

-127

435

584

610

614

105

150

102

-92

200

67

109

53

17

-36

-9

270

170

-70

-5

-263

-185

141

177

-16

-15

104

-48

76

77

81

67

127

0

0

0

Retirement benefits

-23

-12

-52

-480

-632

-667

-660

-341

-226

-202

-190

-180

-156

-152

-150

-150

-153

-141

-63

-101

-165

-184

-309

-224

-192

-342

-278

-226

-272

-169

-697

-722

-653

-688

-180

-120

-96

-271

0

0

0

Changes in other noncurrent assets and liabilities, net

-235

-245

-77

4

-180

-329

-204

-318

41

174

31

75

-29

18

64

101

102

77

21

-22

-86

-99

-13

-26

3

-8

-131

-156

-128

-161

-64

-57

-56

6

0

0

0

-

-

-

-

Other, net

-3

-16

-43

36

89

18

252

194

86

138

-92

-80

-44

-24

-52

-36

-13

-19

28

8

11

20

63

53

52

30

47

52

34

42

-58

-73

-102

-93

-72

-54

-30

-26

0

0

0

Excess tax benefits from share-based compensation

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

Increase in other noncurrent assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

Increase in other noncurrent liabilities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

Net cash provided by operating activities

6,797

6,680

6,767

6,666

6,547

7,032

6,214

5,385

4,488

3,878

3,796

3,749

4,242

4,608

4,709

5,273

5,240

5,153

5,207

5,160

5,144

5,188

5,088

5,212

5,552

5,559

5,787

6,122

5,869

6,065

5,414

4,982

5,114

4,201

4,037

3,182

2,253

2,045

0

0

0

INVESTING ACTIVITIES
Capital expenditures

3,671

3,628

3,603

3,330

3,301

3,175

3,003

3,072

3,131

3,106

3,334

3,327

3,150

2,981

2,843

2,864

2,867

2,872

2,973

2,918

2,993

3,047

2,950

3,039

3,055

3,048

3,106

3,024

2,904

2,919

2,924

2,926

2,878

2,411

1,775

1,292

907

864

0

0

0

Proceeds from sale of property, plant and equipment and other assets

103

93

87

59

180

158

1,603

1,606

1,487

1,529

59

67

68

30

24

16

24

31

92

89

76

63

5

5

6

80

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Deposits received from assets held for sale

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other, net

-

-

-

-

-

61

61

61

-26

5

0

0

0

-

-

2

1

8

8

-10

-5

0

39

61

37

20

-29

-64

-27

-38

-30

-4

-28

-16

-17

-12

-6

-5

0

0

0

Net cash used in investing activities

-3,603

-3,570

-3,553

-3,283

-3,216

-3,078

-10,217

-10,289

-8,907

-8,871

-1,832

-1,809

-3,121

-2,994

-2,843

-2,874

-2,848

-2,853

-2,986

-2,916

-3,005

-3,077

-3,144

-3,255

-3,246

-3,148

-2,944

-2,827

-2,611

-2,690

-2,761

-4,460

-4,102

-3,647

-3,010

-861

-898

-859

0

0

0

FINANCING ACTIVITIES
Net proceeds from issuance of long-term debt

4,944

3,707

988

0

0

130

1,920

1,920

8,528

8,398

6,608

7,554

1,934

2,161

2,160

1,610

622

989

990

1,077

1,077

483

1,224

741

1,493

2,481

1,739

1,741

2,318

3,362

0

0

0

-

-

-

-

-

-

-

-

Payments of long-term debt

6,492

4,157

1,856

2,573

2,021

1,936

1,890

556

2,000

1,963

1,638

2,528

2,468

2,462

2,867

1,924

605

966

1,173

1,185

1,139

800

1,003

1,113

2,001

2,010

1,758

2,506

4,325

5,118

6,071

5,757

3,830

2,984

0

0

0

-

-

-

-

Net proceeds from revolving line of credit

680

-300

110

650

695

145

590

-740

-375

35

-735

740

375

-40

-85

-500

330

315

869

289

-451

4

-855

800

680

-95

1,166

-259

-479

543

-456

-426

44

-88

0

0

0

-

-

-

-

Dividends paid

1,106

1,100

1,406

1,710

2,017

2,312

2,307

2,019

1,737

1,453

1,172

1,171

1,173

1,167

1,169

1,175

1,184

1,198

1,209

1,221

1,223

1,228

1,239

1,256

1,269

1,301

1,440

1,567

1,700

1,811

1,808

1,804

1,786

1,556

1,326

1,099

882

879

0

0

0

Payments of debt

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

Proceeds from issuance of common stock

-

-

-

-

-

-

-

-

-

-

-

-

0

-

0

0

7

-

16

27

51

50

64

65

67

73

73

85

88

110

115

110

119

103

155

162

140

130

0

0

0

Shares withheld to satisfy tax withholdings

-

-

-

-

-

-

-

-

-

-

-

-

18

-

293

557

646

819

633

434

507

650

892

1,212

1,517

1,586

1,269

884

423

37

20

21

27

31

34

34

21

17

0

0

0

Other, net

-103

-61

-39

-42

-51

-50

0

0

0

-

-

-

-

-

-

-

-

8

-2

-5

-3

-2

0

0

0

-

-

-

-

2

46

19

-7

-9

0

0

0

-

-

-

-

Net cash used in financing activities

-2,077

-1,911

-2,203

-3,675

-3,394

-4,023

-1,741

-721

4,740

5,356

4,058

4,224

-1,345

-1,518

-2,080

-2,362

-2,108

-2,301

-2,600

-2,270

-2,203

-2,151

-1,476

-1,990

-2,563

-2,454

-2,772

-3,363

-4,314

-3,295

-3,577

-2,767

269

-577

-132

39

-1,291

-1,175

0

0

0

Other, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

Effect of exchange rates on cash, cash equivalents, restricted cash and securities

-

-

-

-

-

-

-

-

-

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

3

0

0

0

-

-

-

-

-

-

-

-

Net decrease in cash, cash equivalents and restricted cash

1,117

1,199

1,011

-292

-63

-69

-5,744

-5,625

321

363

6,022

6,164

-224

96

-214

37

284

-1

-379

-26

-64

-40

468

-33

-257

-43

72

-67

-1,054

83

-929

-2,265

1,260

-45

880

2,360

63

11

0

0

0

Supplemental cash flow information:
Income taxes paid, net

-35

-34

-54

-360

-669

-674

-660

-160

399

392

431

636

381

397

353

43

69

63

60

45

22

27

24

25

50

48

68

97

89

82

41

12

-112

-118

722

573

416

424

0

0

0

Interest paid (net of capitalized interest of $23 and $15)

1,931

2,028

2,073

2,127

2,127

2,138

2,055

1,838

1,637

1,401

1,296

1,265

1,294

1,301

1,318

1,316

1,302

1,310

1,318

1,320

1,343

1,338

1,352

1,358

1,333

1,333

1,323

1,323

1,426

1,405

1,462

1,494

1,539

1,225

963

1,274

412

548

0

0

0