AT&T Inc. | ||||||||||||||||||||
Financial Data | ||||||||||||||||||||
Consolidated Statements of Income | ||||||||||||||||||||
Dollars in millions except per share amounts | ||||||||||||||||||||
Unaudited | Second Quarter | Percent | Six-Month Period | Percent | ||||||||||||||||
2023 | 2022 | Change | 2023 | 2022 | Change | |||||||||||||||
Operating Revenues | ||||||||||||||||||||
Service | $ | 24,850 | $ | 24,268 | 2.4 | % | $ | 49,467 | $ | 48,267 | 2.5 | % | ||||||||
Equipment | 5,067 | 5,375 | (5.7) | % | 10,589 | 11,088 | (4.5) | % | ||||||||||||
Total Operating Revenues | 29,917 | 29,643 | 0.9 | % | 60,056 | 59,355 | 1.2 | % | ||||||||||||
Operating Expenses | ||||||||||||||||||||
Cost of revenues | ||||||||||||||||||||
Equipment | 5,056 | 5,534 | (8.6) | % | 10,714 | 11,570 | (7.4) | % | ||||||||||||
Other cost of revenues (exclusive of depreciation and amortization shown separately below) | 6,771 | 6,807 | (0.5) | % | 13,444 | 13,506 | (0.5) | % | ||||||||||||
Selling, general and administrative | 7,009 | 7,265 | (3.5) | % | 14,184 | 14,243 | (0.4) | % | ||||||||||||
Asset impairments and abandonments and restructuring | — | 631 | — | % | — | 631 | — | % | ||||||||||||
Depreciation and amortization | 4,675 | 4,450 | 5.1 | % | 9,306 | 8,912 | 4.4 | % | ||||||||||||
Total Operating Expenses | 23,511 | 24,687 | (4.8) | % | 47,648 | 48,862 | (2.5) | % | ||||||||||||
Operating Income | 6,406 | 4,956 | 29.3 | % | 12,408 | 10,493 | 18.3 | % | ||||||||||||
Interest Expense | 1,608 | 1,502 | 7.1 | % | 3,316 | 3,128 | 6.0 | % | ||||||||||||
Equity in Net Income of Affiliates | 380 | 504 | (24.6) | % | 918 | 1,025 | (10.4) | % | ||||||||||||
Other Income (Expense) — Net | 987 | 2,302 | (57.1) | % | 1,922 | 4,459 | (56.9) | % | ||||||||||||
Income from Continuing Operations Before Income Taxes | 6,165 | 6,260 | (1.5) | % | 11,932 | 12,849 | (7.1) | % | ||||||||||||
Income tax expense on continuing operations | 1,403 | 1,509 | (7.0) | % | 2,717 | 2,949 | (7.9) | % | ||||||||||||
Income From Continuing Operations | 4,762 | 4,751 | 0.2 | % | 9,215 | 9,900 | (6.9) | % | ||||||||||||
Income (loss) from discontinued operations, net of tax | — | (214) | — | % | — | (199) | — | % | ||||||||||||
Net Income | 4,762 | 4,537 | 5.0 | % | 9,215 | 9,701 | (5.0) | % | ||||||||||||
Less: Net Income Attributable to Noncontrolling Interest | (273) | (380) | 28.2 | % | (498) | (734) | 32.2 | % | ||||||||||||
Net Income Attributable to AT&T | $ | 4,489 | $ | 4,157 | 8.0 | % | $ | 8,717 | $ | 8,967 | (2.8) | % | ||||||||
Less: Preferred Stock Dividends | (52) | (52) | — | % | (104) | (100) | (4.0) | % | ||||||||||||
Net Income Attributable to Common Stock | $ | 4,437 | $ | 4,105 | 8.1 | % | $ | 8,613 | $ | 8,867 | (2.9) | % | ||||||||
Basic Earnings (Loss) Per Share Attributable to Common Stock | ||||||||||||||||||||
From continuing operations | $ | 0.61 | $ | 0.60 | 1.7 | % | $ | 1.19 | $ | 1.26 | (5.6) | % | ||||||||
From discontinued operations | $ | — | $ | (0.03) | — | % | $ | — | $ | (0.03) | — | % | ||||||||
$ | 0.61 | $ | 0.57 | 7.0 | % | $ | 1.19 | $ | 1.23 | (3.3) | % | |||||||||
Weighted Average Common Shares Outstanding (000,000) | 7,180 | 7,169 | 0.2 | % | 7,174 | 7,176 | — | % | ||||||||||||
Diluted Earnings (Loss) Per Share Attributable to Common Stock | ||||||||||||||||||||
From continuing operations | $ | 0.61 | $ | 0.59 | 3.4 | % | $ | 1.19 | $ | 1.23 | (3.3) | % | ||||||||
From discontinued operations | $ | — | $ | (0.03) | — | % | $ | — | $ | (0.02) | — | % | ||||||||
$ | 0.61 | $ | 0.56 | 8.9 | % | $ | 1.19 | $ | 1.21 | (1.7) | % | |||||||||
Weighted Average Common Shares Outstanding with Dilution (000,000) | 7,180 | 7,611 | (5.7) | % | 7,327 | 7,584 | (3.4) | % | ||||||||||||
AT&T Inc. | |||||||||||
Financial Data | |||||||||||
Consolidated Balance Sheets | |||||||||||
Dollars in millions | |||||||||||
Unaudited | Jun. 30, | Dec. 31, | |||||||||
2023 | 2022 | ||||||||||
Assets | |||||||||||
Current Assets | |||||||||||
Cash and cash equivalents | $ | 9,528 | $ | 3,701 | |||||||
Accounts receivable – net of related allowances for credit loss of $528 and $588 | 9,304 | 11,466 | |||||||||
Inventories | 2,348 | 3,123 | |||||||||
Prepaid and other current assets | 15,492 | 14,818 | |||||||||
Total current assets | 36,672 | 33,108 | |||||||||
Property, Plant and Equipment – Net | 128,783 | 127,445 | |||||||||
Goodwill – Net | 67,854 | 67,895 | |||||||||
Licenses – Net | 125,049 | 124,092 | |||||||||
Other Intangible Assets – Net | 5,339 | 5,354 | |||||||||
Investments in and Advances to Equity Affiliates | 2,779 | 3,533 | |||||||||
Operating Lease Right-Of-Use Assets | 21,581 | 21,814 | |||||||||
Other Assets | 20,396 | 19,612 | |||||||||
Total Assets | $ | 408,453 | $ | 402,853 | |||||||
Liabilities and Stockholders’ Equity | |||||||||||
Current Liabilities | |||||||||||
Debt maturing within one year | $ | 15,268 | $ | 7,467 | |||||||
Note payable to DIRECTV | — | 130 | |||||||||
Accounts payable and accrued liabilities | 33,038 | 42,644 | |||||||||
Advanced billings and customer deposits | 3,833 | 3,918 | |||||||||
Dividends payable | 2,020 | 2,014 | |||||||||
Total current liabilities | 54,159 | 56,173 | |||||||||
Long-Term Debt | 128,012 | 128,423 | |||||||||
Deferred Credits and Other Noncurrent Liabilities | |||||||||||
Deferred income taxes | 57,972 | 57,032 | |||||||||
Postemployment benefit obligation | 6,696 | 7,260 | |||||||||
Operating lease liabilities | 18,311 | 18,659 | |||||||||
Other noncurrent liabilities | 25,258 | 28,849 | |||||||||
Total deferred credits and other noncurrent liabilities | 108,237 | 111,800 | |||||||||
Redeemable Noncontrolling Interest | 1,970 | — | |||||||||
Stockholders’ Equity | |||||||||||
Preferred stock | — | — | |||||||||
Common stock | 7,621 | 7,621 | |||||||||
Additional paid-in capital | 118,833 | 123,610 | |||||||||
Retained (deficit) earnings | (10,698) | (19,415) | |||||||||
Treasury stock | (16,158) | (17,082) | |||||||||
Accumulated other comprehensive income | 2,305 | 2,766 | |||||||||
Noncontrolling interest | 14,172 | 8,957 | |||||||||
Total stockholders’ equity | 116,075 | 106,457 | |||||||||
Total Liabilities and Stockholders’ Equity | $ | 408,453 | $ | 402,853 | |||||||
AT&T Inc. | |||||||||||
Financial Data | |||||||||||
Consolidated Statements of Cash Flows | |||||||||||
Dollars in millions | |||||||||||
Unaudited | Six-Month Period | ||||||||||
2023 | 2022 | ||||||||||
Operating Activities | |||||||||||
Income from continuing operations | $ | 9,215 | $ | 9,900 | |||||||
Adjustments to reconcile income from continuing operations to net cash provided by operating activities from continuing operations: | |||||||||||
Depreciation and amortization | 9,306 | 8,912 | |||||||||
Provision for uncollectible accounts | 929 | 870 | |||||||||
Deferred income tax expense | 1,836 | 2,324 | |||||||||
Net (gain) loss on investments, net of impairments | (160) | 333 | |||||||||
Pension and postretirement benefit expense (credit) | (1,341) | (1,735) | |||||||||
Actuarial and settlement (gain) loss on pension and postretirement benefits - net | (74) | (2,398) | |||||||||
Asset impairments and abandonments and restructuring | — | 631 | |||||||||
Changes in operating assets and liabilities: | |||||||||||
Receivables | 1,342 | 1,292 | |||||||||
Other current assets | 1,106 | 11 | |||||||||
Accounts payable and other accrued liabilities | (5,769) | (3,905) | |||||||||
Equipment installment receivables and related sales | (302) | 342 | |||||||||
Deferred customer contract acquisition and fulfillment costs | 34 | (506) | |||||||||
Postretirement claims and contributions | (556) | (186) | |||||||||
Other - net | 1,034 | (515) | |||||||||
Total adjustments | 7,385 | 5,470 | |||||||||
Net Cash Provided by Operating Activities from Continuing Operations | 16,600 | 15,370 | |||||||||
Investing Activities | |||||||||||
Capital expenditures | (8,605) | (9,476) | |||||||||
Acquisitions, net of cash acquired | (515) | (9,570) | |||||||||
Dispositions | 16 | 22 | |||||||||
Distributions from DIRECTV in excess of cumulative equity in earnings | 974 | 1,638 | |||||||||
(Purchases), sales and settlements of securities and investments - net | (1,056) | 73 | |||||||||
Other - net | (55) | 2 | |||||||||
Net Cash Used in Investing Activities from Continuing Operations | (9,241) | (17,311) | |||||||||
Financing Activities | |||||||||||
Net change in short-term borrowings with original maturities of three months or less | (914) | 172 | |||||||||
Issuance of other short-term borrowings | 5,406 | 2,593 | |||||||||
Repayment of other short-term borrowings | (867) | (15,613) | |||||||||
Issuance of long-term debt | 9,633 | 479 | |||||||||
Repayment of long-term debt | (7,609) | (24,213) | |||||||||
Repayment of note payable to DIRECTV | (130) | (722) | |||||||||
Payment of vendor financing | (3,756) | (3,337) | |||||||||
Purchase of treasury stock | (189) | (872) | |||||||||
Issuance of treasury stock | 3 | 28 | |||||||||
Issuance of preferred interests in subsidiary | 7,151 | — | |||||||||
Redemption of preferred interests in subsidiary | (5,333) | — | |||||||||
Dividends paid | (4,097) | (5,835) | |||||||||
Other - net | (828) | (2,144) | |||||||||
Net Cash Used in Financing Activities from Continuing Operations | (1,530) | (49,464) | |||||||||
Net increase (decrease) in cash and cash equivalents and restricted cash from continuing operations | 5,829 | (51,405) | |||||||||
Cash flows from Discontinued Operations: | |||||||||||
Cash (used in) provided by operating activities | — | (3,731) | |||||||||
Cash provided by (used in) investing activities | — | 872 | |||||||||
Cash provided by (used in) financing activities | — | 37,065 | |||||||||
Net increase (decrease) in cash and cash equivalents and restricted cash from discontinued operations | — | 34,206 | |||||||||
Net increase (decrease) in cash and cash equivalents and restricted cash | $ | 5,829 | $ | (17,199) | |||||||
Cash and cash equivalents and restricted cash beginning of year | 3,793 | 21,316 | |||||||||
Cash and Cash Equivalents and Restricted Cash End of Period | $ | 9,622 | $ | 4,117 |
AT&T Inc. | ||||||||||||||||||||
Consolidated Supplementary Data | ||||||||||||||||||||
Supplementary Financial Data | ||||||||||||||||||||
Dollars in millions except per share amounts | ||||||||||||||||||||
Unaudited | Second Quarter | Percent | Six-Month Period | Percent | ||||||||||||||||
2023 | 2022 | Change | 2023 | 2022 | Change | |||||||||||||||
Capital expenditures | ||||||||||||||||||||
Purchase of property and equipment | $ | 4,224 | $ | 4,867 | (13.2) | % | $ | 8,515 | $ | 9,399 | (9.4) | % | ||||||||
Interest during construction - capital expenditures | 46 | 41 | 12.2 | % | 90 | 77 | 16.9 | % | ||||||||||||
Total Capital Expenditures | $ | 4,270 | $ | 4,908 | (13.0) | % | $ | 8,605 | $ | 9,476 | (9.2) | % | ||||||||
Acquisitions, net of cash acquired | ||||||||||||||||||||
Business acquisitions | $ | — | $ | — | — | % | $ | — | $ | — | — | % | ||||||||
Spectrum acquisitions | 5 | 9 | (44.4) | % | 68 | 8,965 | (99.2) | % | ||||||||||||
Interest during construction - spectrum | 219 | 317 | (30.9) | % | 447 | 605 | (26.1) | % | ||||||||||||
Total Acquisitions | $ | 224 | $ | 326 | (31.3) | % | $ | 515 | $ | 9,570 | (94.6) | % | ||||||||
Cash paid for interest - continuing operations | $ | 1,633 | $ | 1,874 | (12.9) | % | $ | 3,604 | $ | 4,028 | (10.5) | % | ||||||||
Cash paid for income taxes, net of refunds - continuing operations | $ | 325 | $ | 266 | 22.2 | % | $ | 335 | $ | 338 | (0.9) | % | ||||||||
Dividends Declared per Common Share | $ | 0.2775 | $ | 0.2775 | — | % | $ | 0.5550 | $ | 0.5550 | — | % | ||||||||
End of Period Common Shares Outstanding (000,000) | 7,149 | 7,126 | 0.3 | % | ||||||||||||||||
Debt Ratio | 54.8 | % | 50.1 | % | 470 | BP | ||||||||||||||
Total Employees | 156,630 | 172,400 | (9.1) | % | ||||||||||||||||
Segment Results | ||||||||||||||||||||
Dollars in millions | ||||||||||||||||||||
Unaudited | Second Quarter | Percent | Six-Month Period | Percent | ||||||||||||||||
2023 | 2022 | Change | 2023 | 2022 | Change | |||||||||||||||
Segment Operating Revenues | ||||||||||||||||||||
Mobility | $ | 20,315 | $ | 19,926 | 2.0 | % | $ | 40,897 | $ | 40,001 | 2.2 | % | ||||||||
Business Wireline | 5,279 | 5,595 | (5.6) | % | 10,610 | 11,235 | (5.6) | % | ||||||||||||
Consumer Wireline | 3,251 | 3,174 | 2.4 | % | 6,490 | 6,335 | 2.4 | % | ||||||||||||
Total Segment Operating Revenues | 28,845 | 28,695 | 0.5 | % | 57,997 | 57,571 | 0.7 | % | ||||||||||||
Segment Operating Income | ||||||||||||||||||||
Mobility | 6,613 | 6,048 | 9.3 | % | 12,884 | 11,737 | 9.8 | % | ||||||||||||
Business Wireline | 396 | 490 | (19.2) | % | 774 | 1,129 | (31.4) | % | ||||||||||||
Consumer Wireline | 168 | 145 | 15.9 | % | 262 | 304 | (13.8) | % | ||||||||||||
Total Segment Operating Income | $ | 7,177 | $ | 6,683 | 7.4 | % | $ | 13,920 | $ | 13,170 | 5.7 | % | ||||||||
Supplementary Operating Data | ||||||||||||||||||||
Subscribers and connections in thousands | ||||||||||||||||||||
Unaudited | June 30, | Percent | ||||||||||||||||||
2023 | 2022 | Change | ||||||||||||||||||
Broadband Connections | ||||||||||||||||||||
Broadband | 15,045 | 15,136 | (0.6) | % | ||||||||||||||||
DSL | 259 | 373 | (30.6) | % | ||||||||||||||||
Total Broadband Connections | 15,304 | 15,509 | (1.3) | % | ||||||||||||||||
Voice Connections | ||||||||||||||||||||
Retail Consumer Switched Access Lines | 4,677 | 5,725 | (18.3) | % | ||||||||||||||||
U-verse Consumer VoIP Connections | 2,749 | 3,124 | (12.0) | % | ||||||||||||||||
Total Retail Consumer Voice Connections | 7,426 | 8,849 | (16.1) | % | ||||||||||||||||
Second Quarter | Percent | Six-Month Period | Percent | |||||||||||||||||
2023 | 2022 | Change | 2023 | 2022 | Change | |||||||||||||||
Broadband Net Additions | ||||||||||||||||||||
Broadband | (16) | 6 | — | % | (30) | 62 | — | % | ||||||||||||
DSL | (25) | (30) | 16.7 | % | (52) | (57) | 8.8 | % | ||||||||||||
Total Broadband Net Additions | (41) | (24) | (70.8) | % | (82) | 5 | — | % | ||||||||||||
Mobility Results | ||||||||||||||||||||
Dollars in millions | ||||||||||||||||||||
Unaudited | Second Quarter | Percent | Six-Month Period | Percent | ||||||||||||||||
2023 | 2022 | Change | 2023 | 2022 | Change | |||||||||||||||
Operating Revenues | ||||||||||||||||||||
Service | $ | 15,745 | $ | 15,004 | 4.9 | % | $ | 31,228 | $ | 29,728 | 5.0 | % | ||||||||
Equipment | 4,570 | 4,922 | (7.2) | % | 9,669 | 10,273 | (5.9) | % | ||||||||||||
Total Operating Revenues | 20,315 | 19,926 | 2.0 | % | 40,897 | 40,001 | 2.2 | % | ||||||||||||
Operating Expenses | ||||||||||||||||||||
Operations and support | 11,579 | 11,861 | (2.4) | % | 23,792 | 24,188 | (1.6) | % | ||||||||||||
Depreciation and amortization | 2,123 | 2,017 | 5.3 | % | 4,221 | 4,076 | 3.6 | % | ||||||||||||
Total Operating Expenses | 13,702 | 13,878 | (1.3) | % | 28,013 | 28,264 | (0.9) | % | ||||||||||||
Operating Income | $ | 6,613 | $ | 6,048 | 9.3 | % | $ | 12,884 | $ | 11,737 | 9.8 | % | ||||||||
Operating Income Margin | 32.6 | % | 30.4 | % | 220 | BP | 31.5 | % | 29.3 | % | 220 | BP | ||||||||
Supplementary Operating Data | ||||||||||||||||||||
Subscribers and connections in thousands | ||||||||||||||||||||
Unaudited | June 30, | Percent | ||||||||||||||||||
2023 | 2022 | Change | ||||||||||||||||||
Mobility Subscribers | ||||||||||||||||||||
Postpaid | 85,846 | 82,694 | 3.8 | % | ||||||||||||||||
Postpaid phone | 70,331 | 68,311 | 3.0 | % | ||||||||||||||||
Prepaid | 19,352 | 19,095 | 1.3 | % | ||||||||||||||||
Reseller | 6,656 | 5,480 | 21.5 | % | ||||||||||||||||
Connected Devices | 117,177 | 96,104 | 21.9 | % | ||||||||||||||||
Total Mobility Subscribers1 | 229,031 | 203,373 | 12.6 | % | ||||||||||||||||
1Wireless subscribers at June 30, 2023 includes an increase of 295 subscribers and connections (206 postpaid, including 74 phone, and 89 connected devices) resulting from our 3G network shutdown. | ||||||||||||||||||||
Second Quarter | Percent | Six-Month Period | Percent | |||||||||||||||||
2023 | 2022 | Change | 2023 | 2022 | Change | |||||||||||||||
Mobility Net Additions | ||||||||||||||||||||
Postpaid Phone Net Additions | 326 | 813 | (59.9) | % | 750 | 1,504 | (50.1) | % | ||||||||||||
Total Phone Net Additions | 449 | 1,009 | (55.5) | % | 913 | 1,813 | (49.6) | % | ||||||||||||
Postpaid | 464 | 1,058 | (56.1) | % | 1,006 | 2,023 | (50.3) | % | ||||||||||||
Prepaid | 167 | 231 | (27.7) | % | 207 | 347 | (40.3) | % | ||||||||||||
Reseller | 432 | 21 | — | % | 540 | 4 | — | % | ||||||||||||
Connected Devices | 5,129 | 5,292 | (3.1) | % | 9,586 | 9,760 | (1.8) | % | ||||||||||||
Total Mobility Net Additions | 6,192 | 6,602 | (6.2) | % | 11,339 | 12,134 | (6.6) | % | ||||||||||||
Postpaid Churn | 0.95 | % | 0.93 | % | 2 | BP | 0.97 | % | 0.93 | % | 4 BP | |||||||||
Postpaid Phone-Only Churn | 0.79 | % | 0.75 | % | 4 | BP | 0.80 | % | 0.77 | % | 3 BP | |||||||||
Business Wireline Results | ||||||||||||||||||||
Dollars in millions | ||||||||||||||||||||
Unaudited | Second Quarter | Percent | Six-Month Period | Percent | ||||||||||||||||
2023 | 2022 | Change | 2023 | 2022 | Change | |||||||||||||||
Operating Revenues | ||||||||||||||||||||
Service | $ | 5,114 | $ | 5,416 | (5.6) | % | $ | 10,314 | $ | 10,894 | (5.3) | % | ||||||||
Equipment | 165 | 179 | (7.8) | % | 296 | 341 | (13.2) | % | ||||||||||||
Total Operating Revenues | 5,279 | 5,595 | (5.6) | % | 10,610 | 11,235 | (5.6) | % | ||||||||||||
Operating Expenses | ||||||||||||||||||||
Operations and support | 3,550 | 3,792 | (6.4) | % | 7,173 | 7,494 | (4.3) | % | ||||||||||||
Depreciation and amortization | 1,333 | 1,313 | 1.5 | % | 2,663 | 2,612 | 2.0 | % | ||||||||||||
Total Operating Expenses | 4,883 | 5,105 | (4.3) | % | 9,836 | 10,106 | (2.7) | % | ||||||||||||
Operating Income | $ | 396 | $ | 490 | (19.2) | % | $ | 774 | $ | 1,129 | (31.4) | % | ||||||||
Operating Income Margin | 7.5 | % | 8.8 | % | (130) | BP | 7.3 | % | 10.0 | % | (270) | BP |
Consumer Wireline Results | ||||||||||||||||||||
Dollars in millions | ||||||||||||||||||||
Unaudited | Second Quarter | Percent | Six-Month Period | Percent | ||||||||||||||||
2023 | 2022 | Change | 2023 | 2022 | Change | |||||||||||||||
Operating Revenues | ||||||||||||||||||||
Broadband | $ | 2,561 | $ | 2,393 | 7.0 | % | $ | 5,088 | $ | 4,748 | 7.2 | % | ||||||||
Legacy voice and data services | 383 | 445 | (13.9) | % | 779 | 905 | (13.9) | % | ||||||||||||
Other service and equipment | 307 | 336 | (8.6) | % | 623 | 682 | (8.7) | % | ||||||||||||
Total Operating Revenues | 3,251 | 3,174 | 2.4 | % | 6,490 | 6,335 | 2.4 | % | ||||||||||||
Operating Expenses | ||||||||||||||||||||
Operations and support | 2,226 | 2,244 | (0.8) | % | 4,510 | 4,480 | 0.7 | % | ||||||||||||
Depreciation and amortization | 857 | 785 | 9.2 | % | 1,718 | 1,551 | 10.8 | % | ||||||||||||
Total Operating Expenses | 3,083 | 3,029 | 1.8 | % | 6,228 | 6,031 | 3.3 | % | ||||||||||||
Operating Income | $ | 168 | $ | 145 | 15.9 | % | $ | 262 | $ | 304 | (13.8) | % | ||||||||
Operating Income Margin | 5.2 | % | 4.6 | % | 60 | BP | 4.0 | % | 4.8 | % | (80) | BP | ||||||||
Supplementary Operating Data | ||||||||||||||||||||
Subscribers and connections in thousands | ||||||||||||||||||||
Unaudited | June 30, | Percent | ||||||||||||||||||
2023 | 2022 | Change | ||||||||||||||||||
Broadband Connections | ||||||||||||||||||||
Total Broadband and DSL Connections | 13,895 | 14,105 | (1.5) | % | ||||||||||||||||
Broadband | 13,695 | 13,825 | (0.9) | % | ||||||||||||||||
Fiber Broadband Connections | 7,738 | 6,597 | 17.3 | % | ||||||||||||||||
Voice Connections | ||||||||||||||||||||
Retail Consumer Switched Access Lines | 1,829 | 2,228 | (17.9) | % | ||||||||||||||||
U-verse Consumer VoIP Connections | 2,126 | 2,521 | (15.7) | % | ||||||||||||||||
Total Retail Consumer Voice Connections | 3,955 | 4,749 | (16.7) | % | ||||||||||||||||
Second Quarter | Percent | Six-Month Period | Percent | |||||||||||||||||
2023 | 2022 | Change | 2023 | 2022 | Change | |||||||||||||||
Broadband Net Additions | ||||||||||||||||||||
Total Broadband and DSL Net Additions | (54) | (43) | (25.6) | % | (96) | (55) | (74.5) | % | ||||||||||||
Broadband | (35) | (25) | (40.0) | % | (58) | (20) | — | % | ||||||||||||
Fiber Broadband Net Additions | 251 | 316 | (20.6) | % | 523 | 605 | (13.6) | % | ||||||||||||
Segment Results | ||||||||||||||||||||
Dollars in millions | ||||||||||||||||||||
Unaudited | Second Quarter | Percent | Six-Month Period | Percent | ||||||||||||||||
2023 | 2022 | Change | 2023 | 2022 | Change | |||||||||||||||
Operating Revenues | ||||||||||||||||||||
Wireless service | $ | 635 | $ | 534 | 18.9 | % | $ | 1,226 | $ | 1,024 | 19.7 | % | ||||||||
Wireless equipment | 332 | 274 | 21.2 | % | 624 | 474 | 31.6 | % | ||||||||||||
Total Segment Operating Revenues | 967 | 808 | 19.7 | % | 1,850 | 1,498 | 23.5 | % | ||||||||||||
Operating Expenses | ||||||||||||||||||||
Operations and support | 821 | 721 | 13.9 | % | 1,559 | 1,352 | 15.3 | % | ||||||||||||
Depreciation and amortization | 185 | 169 | 9.5 | % | 360 | 330 | 9.1 | % | ||||||||||||
Total Segment Operating Expenses | 1,006 | 890 | 13.0 | % | 1,919 | 1,682 | 14.1 | % | ||||||||||||
Operating Income (Loss) | $ | (39) | $ | (82) | 52.4 | % | $ | (69) | $ | (184) | 62.5 | % | ||||||||
Operating Income Margin | (4.0) | % | (10.1) | % | 610 | BP | (3.7) | % | (12.3) | % | 860 | BP | ||||||||
Supplementary Operating Data | ||||||||||||||||||||
Subscribers and connections in thousands | ||||||||||||||||||||
Unaudited | June 30, | Percent | ||||||||||||||||||
2023 | 2022 | Change | ||||||||||||||||||
Mexico Wireless Subscribers | ||||||||||||||||||||
Postpaid | 5,030 | 4,835 | 4.0 | % | ||||||||||||||||
Prepaid | 16,196 | 15,422 | 5.0 | % | ||||||||||||||||
Reseller | 463 | 443 | 4.5 | % | ||||||||||||||||
Total Mexico Wireless Subscribers | 21,689 | 20,700 | 4.8 | % | ||||||||||||||||
Second Quarter | Percent | Six-Month Period | Percent | |||||||||||||||||
2023 | 2022 | Change | 2023 | 2022 | Change | |||||||||||||||
Mexico Wireless Net Additions | ||||||||||||||||||||
Postpaid | 56 | 25 | — | % | 105 | 28 | — | % | ||||||||||||
Prepaid | 50 | 187 | (73.3) | % | (8) | 365 | — | % | ||||||||||||
Reseller | (30) | (15) | — | % | (11) | (55) | 80.0 | % | ||||||||||||
Total Mexico Wireless Net Additions | 76 | 197 | (61.4) | % | 86 | 338 | (74.6) | % | ||||||||||||
Three Months Ended | |||||||||||||||||
Dollars in millions | |||||||||||||||||
Unaudited | |||||||||||||||||
June 30, 2023 | |||||||||||||||||
Revenues | Operations and Support Expenses | EBITDA | Depreciation and Amortization | Operating Income (Loss) | |||||||||||||
Communications | |||||||||||||||||
Mobility | $ | 20,315 | $ | 11,579 | $ | 8,736 | $ | 2,123 | $ | 6,613 | |||||||
Business Wireline | 5,279 | 3,550 | 1,729 | 1,333 | 396 | ||||||||||||
Consumer Wireline | 3,251 | 2,226 | 1,025 | 857 | 168 | ||||||||||||
Total Communications | 28,845 | 17,355 | 11,490 | 4,313 | 7,177 | ||||||||||||
Latin America - Mexico | 967 | 821 | 146 | 185 | (39) | ||||||||||||
Segment Total | 29,812 | 18,176 | 11,636 | 4,498 | 7,138 | ||||||||||||
Corporate and Other | |||||||||||||||||
Corporate: | |||||||||||||||||
DTV-related retained costs | — | 178 | (178) | 152 | (330) | ||||||||||||
Parent administration support | (3) | 332 | (335) | 2 | (337) | ||||||||||||
Securitization fees | 17 | 154 | (137) | — | (137) | ||||||||||||
Value portfolio | 91 | 24 | 67 | 6 | 61 | ||||||||||||
Total Corporate | 105 | 688 | (583) | 160 | (743) | ||||||||||||
Certain significant items | — | (28) | 28 | 17 | 11 | ||||||||||||
Total Corporate and Other | 105 | 660 | (555) | 177 | (732) | ||||||||||||
AT&T Inc. | $ | 29,917 | $ | 18,836 | $ | 11,081 | $ | 4,675 | $ | 6,406 | |||||||
June 30, 2022 | |||||||||||||||||
Revenues | Operations and Support Expenses | EBITDA | Depreciation and Amortization | Operating Income (Loss) | |||||||||||||
Communications | |||||||||||||||||
Mobility | $ | 19,926 | $ | 11,861 | $ | 8,065 | $ | 2,017 | $ | 6,048 | |||||||
Business Wireline | 5,595 | 3,792 | 1,803 | 1,313 | 490 | ||||||||||||
Consumer Wireline | 3,174 | 2,244 | 930 | 785 | 145 | ||||||||||||
Total Communications | 28,695 | 17,897 | 10,798 | 4,115 | 6,683 | ||||||||||||
Latin America - Mexico | 808 | 721 | 87 | 169 | (82) | ||||||||||||
Segment Total | 29,503 | 18,618 | 10,885 | 4,284 | 6,601 | ||||||||||||
Corporate and Other | |||||||||||||||||
Corporate: | |||||||||||||||||
DTV-related retained costs | — | 239 | (239) | 135 | (374) | ||||||||||||
Parent administration support | (6) | 341 | (347) | 4 | (351) | ||||||||||||
Securitization fees | 17 | 78 | (61) | — | (61) | ||||||||||||
Value portfolio | 129 | 37 | 92 | 10 | 82 | ||||||||||||
Total Corporate | 140 | 695 | (555) | 149 | (704) | ||||||||||||
Certain significant items | — | 924 | (924) | 17 | (941) | ||||||||||||
Total Corporate and Other | 140 | 1,619 | (1,479) | 166 | (1,645) | ||||||||||||
AT&T Inc. | $ | 29,643 | $ | 20,237 | $ | 9,406 | $ | 4,450 | $ | 4,956 | |||||||
Six Months Ended | |||||||||||||||||
Dollars in millions | |||||||||||||||||
Unaudited | |||||||||||||||||
June 30, 2023 | |||||||||||||||||
Revenues | Operations and Support Expenses | EBITDA | Depreciation and Amortization | Operating Income (Loss) | |||||||||||||
Communications | |||||||||||||||||
Mobility | $ | 40,897 | $ | 23,792 | $ | 17,105 | $ | 4,221 | $ | 12,884 | |||||||
Business Wireline | 10,610 | 7,173 | 3,437 | 2,663 | 774 | ||||||||||||
Consumer Wireline | 6,490 | 4,510 | 1,980 | 1,718 | 262 | ||||||||||||
Total Communications | 57,997 | 35,475 | 22,522 | 8,602 | 13,920 | ||||||||||||
Latin America - Mexico | 1,850 | 1,559 | 291 | 360 | (69) | ||||||||||||
Segment Total | 59,847 | 37,034 | 22,813 | 8,962 | 13,851 | ||||||||||||
Corporate and Other | |||||||||||||||||
Corporate: | |||||||||||||||||
DTV-related retained costs | — | 347 | (347) | 296 | (643) | ||||||||||||
Parent administration support | (12) | 706 | (718) | 3 | (721) | ||||||||||||
Securitization fees | 36 | 275 | (239) | — | (239) | ||||||||||||
Value portfolio | 185 | 52 | 133 | 11 | 122 | ||||||||||||
Total Corporate | 209 | 1,380 | (1,171) | 310 | (1,481) | ||||||||||||
Certain significant items | — | (72) | 72 | 34 | 38 | ||||||||||||
Total Corporate and Other | 209 | 1,308 | (1,099) | 344 | (1,443) | ||||||||||||
AT&T Inc. | $ | 60,056 | $ | 38,342 | $ | 21,714 | $ | 9,306 | $ | 12,408 | |||||||
June 30, 2022 | |||||||||||||||||
Revenues | Operations and Support Expenses | EBITDA | Depreciation and Amortization | Operating Income (Loss) | |||||||||||||
Communications | |||||||||||||||||
Mobility | $ | 40,001 | $ | 24,188 | $ | 15,813 | $ | 4,076 | $ | 11,737 | |||||||
Business Wireline | 11,235 | 7,494 | 3,741 | 2,612 | 1,129 | ||||||||||||
Consumer Wireline | 6,335 | 4,480 | 1,855 | 1,551 | 304 | ||||||||||||
Total Communications | 57,571 | 36,162 | 21,409 | 8,239 | 13,170 | ||||||||||||
Latin America - Mexico | 1,498 | 1,352 | 146 | 330 | (184) | ||||||||||||
Segment Total | 59,069 | 37,514 | 21,555 | 8,569 | 12,986 | ||||||||||||
Corporate and Other | |||||||||||||||||
Corporate: | |||||||||||||||||
DTV-related retained costs | 8 | 399 | (391) | 269 | (660) | ||||||||||||
Parent administration support | (18) | 688 | (706) | 10 | (716) | ||||||||||||
Securitization fees | 33 | 160 | (127) | — | (127) | ||||||||||||
Value portfolio | 263 | 74 | 189 | 20 | 169 | ||||||||||||
Total Corporate | 286 | 1,321 | (1,035) | 299 | (1,334) | ||||||||||||
Certain significant items | — | 1,115 | (1,115) | 44 | (1,159) | ||||||||||||
Total Corporate and Other | 286 | 2,436 | (2,150) | 343 | (2,493) | ||||||||||||
AT&T Inc. | $ | 59,355 | $ | 39,950 | $ | 19,405 | $ | 8,912 | $ | 10,493 | |||||||