Stratrix
On the Record · Lumen Technologies

Lumen Technologies acquisitions, on the record

The businesses Lumen Technologies bought and sold, as its annual reports describe them, with the cash it reported paying for acquisitions each year and every deal filing since 2016.

Deals its annual reports describe

BusinessDealWhenValue
Latin American business
Word for word“On August 1, 2022, affiliates of Level 3 Parent, LLC, an indirect wholly-owned subsidiary of Lumen Technologies, Inc., sold Lumen’s Latin American business for pre-tax cash proceeds of approximately $2.7 billion.” 10-K for 2023
divestitureAugust 1, 2022pre-tax cash proceeds of approximately $2.7 billion
portion of facilities-based ILEC business primarily conducted within 20 Midwestern and Southeastern states
Word for word“In exchange, we received $7.5 billion of consideration, which was reduced by approximately $0.4 billion of closing adjustments and partially paid through purchaser's assumption of approximately $1.5 billion of our long-term consolidated indebtedness, resulting in pre-tax cash proceeds of approximately $5.6 billion.” 10-K for 2023
divestiture—$7.5 billion of consideration, which was reduced by approximately $0.4 billion of closing adjustments and partially paid through purchaser's assumption of approximately $1.5 billion of our long-term consolidated indebtedness, resulting in pre-tax cash proceeds of approximately $5.6 billion
Europe, the Middle East and Africa (EMEA) business
Word for word“On November 1, 2023, affiliates of Level 3 Parent, LLC sold Lumen's operations in Europe, the Middle East and Africa (the "EMEA business").” 10-K for 2023
divestitureNovember 1, 2023—
a portion of the ILEC business conducted within 20 Midwestern and Southeastern states
Word for word“On October 3, 2022, we and certain of our affiliates sold the portion of our facilities-based ILEC business primarily conducted within 20 Midwestern and Southeastern states (and retained the remainder of this business, which is conducted in 17 states, primarily in the Western United States).” 10-K for 2024
divestitureOn October 3, 2022—
Mass Markets Fiber-to-the-Home business in 11 states
Word for word“On February 2, 2026, we completed our sale of our Mass Markets Fiber-to-the-Home business in the Territory ("Mass Markets Fiber-to-the-Home business") to AT&T in exchange for gross cash proceeds of $5.75 billion, subject to post-closing adjustments (the "Mass Markets Fiber-to-the-Home divestiture").” 10-K for 2025
divestitureOn February 2, 2026$5.75 billion
As filedReported in the company's financial data (XBRL), each linked to its filing
Fiscal year endedCash paid for acquisitions (net of cash acquired)Cash received from selling businessesGoodwill from acquisitions
2016-12-31$0—$49 million
2017-12-31$7.29 billion—$10.82 billion
2018-12-31$0—$282 million
2019-12-31$0——
2020-12-31—$0—
2021-12-31—$0—
2022-12-31—$8.37 billion—
2023-12-31—$1.75 billion—
2024-12-31—$15 million—
2025-12-31—$0—

Deal filings since 2016

Read from Lumen Technologies’s annual reports (10-K for 2025, 10-K for 2024, 10-K for 2023) and the financial data it files with the SEC, as of 2026-02-20. Every quotation is word for word from the filing linked beside it; how these pages are built and checked. The full record is in its company data sheet.