AT&T Inc. | ||||||||||||||||||||
Financial Data | ||||||||||||||||||||
Consolidated Statements of Income | ||||||||||||||||||||
Dollars in millions except per share amounts | ||||||||||||||||||||
Unaudited | Third Quarter | Percent | Nine-Month Period | Percent | ||||||||||||||||
2020 | 2019 | Change | 2020 | 2019 | Change | |||||||||||||||
Operating Revenues | ||||||||||||||||||||
Service | $ | 37,782 | $ | 40,317 | (6.3) | % | $ | 113,716 | $ | 122,024 | (6.8) | % | ||||||||
Equipment | 4,558 | 4,271 | 6.7 | % | 12,353 | 12,348 | — | % | ||||||||||||
Total Operating Revenues | 42,340 | 44,588 | (5.0) | % | 126,069 | 134,372 | (6.2) | % | ||||||||||||
Operating Expenses | ||||||||||||||||||||
Cost of revenues | ||||||||||||||||||||
Equipment | 4,552 | 4,484 | 1.5 | % | 12,622 | 13,047 | (3.3) | % | ||||||||||||
Broadcast, programming and operations | 6,912 | 7,066 | (2.2) | % | 19,555 | 22,448 | (12.9) | % | ||||||||||||
Other cost of revenues (exclusive of depreciation and amortization shown separately below) | 8,375 | 8,604 | (2.7) | % | 24,833 | 25,910 | (4.2) | % | ||||||||||||
Selling, general and administrative | 9,266 | 9,584 | (3.3) | % | 27,857 | 29,077 | (4.2) | % | ||||||||||||
Asset impairments and abandonments | 73 | — | — | % | 2,515 | — | — | % | ||||||||||||
Depreciation and amortization | 7,030 | 6,949 | 1.2 | % | 21,537 | 21,256 | 1.3 | % | ||||||||||||
Total Operating Expenses | 36,208 | 36,687 | (1.3) | % | 108,919 | 111,738 | (2.5) | % | ||||||||||||
Operating Income | 6,132 | 7,901 | (22.4) | % | 17,150 | 22,634 | (24.2) | % | ||||||||||||
Interest Expense | 1,972 | 2,083 | (5.3) | % | 6,031 | 6,373 | (5.4) | % | ||||||||||||
Equity in Net Income (Loss) of Affiliates | 5 | 3 | 66.7 | % | (11) | 36 | — | % | ||||||||||||
Other Income (Expense) — Net | (231) | (935) | (75.3) | % | 1,589 | (967) | — | % | ||||||||||||
Income Before Income Taxes | 3,934 | 4,886 | (19.5) | % | 12,697 | 15,330 | (17.2) | % | ||||||||||||
Income Tax Expense | 766 | 937 | (18.2) | % | 3,003 | 3,059 | (1.8) | % | ||||||||||||
Net Income | 3,168 | 3,949 | (19.8) | % | 9,694 | 12,271 | (21.0) | % | ||||||||||||
Less: Net Income Attributable to Noncontrolling Interest | (352) | (249) | (41.4) | % | (987) | (762) | (29.5) | % | ||||||||||||
Net Income Attributable to AT&T | $ | 2,816 | $ | 3,700 | (23.9) | % | $ | 8,707 | $ | 11,509 | (24.3) | % | ||||||||
Less: Preferred Stock Dividends | (54) | — | — | % | (138) | — | — | % | ||||||||||||
Net Income Attributable to Common Stock | $ | 2,762 | $ | 3,700 | (25.4) | % | $ | 8,569 | $ | 11,509 | (25.5) | % | ||||||||
Basic Earnings Per Share Attributable to Common Stock | $ | 0.39 | $ | 0.50 | (22.0) | % | $ | 1.19 | $ | 1.57 | (24.2) | % | ||||||||
Weighted Average Common Shares Outstanding (000,000) | 7,147 | 7,327 | (2.5) | % | 7,160 | 7,321 | (2.2) | % | ||||||||||||
Diluted Earnings Per Share Attributable to Common Stock | $ | 0.39 | $ | 0.50 | (22.0) | % | $ | 1.19 | $ | 1.57 | (24.2) | % | ||||||||
Weighted Average Common Shares Outstanding with Dilution (000,000) | 7,173 | 7,356 | (2.5) | % | 7,186 | 7,350 | (2.2) | % |
AT&T Inc. | |||||||||||
Financial Data | |||||||||||
Consolidated Balance Sheets | |||||||||||
Dollars in millions | |||||||||||
Unaudited | Sep. 30, | Dec. 31, | |||||||||
2020 | 2019 | ||||||||||
Assets | |||||||||||
Current Assets | |||||||||||
Cash and cash equivalents | $ | 9,758 | $ | 12,130 | |||||||
Accounts receivable — net of related allowances for credit loss of $1,386 and $1,235 | 19,379 | 22,636 | |||||||||
Prepaid expenses | 1,420 | 1,631 | |||||||||
Other current assets | 19,414 | 18,364 | |||||||||
Total current assets | 49,971 | 54,761 | |||||||||
Noncurrent Inventories and Theatrical Film and Television Production Costs | 13,948 | 12,434 | |||||||||
Property, Plant and Equipment — Net | 128,722 | 130,128 | |||||||||
Goodwill | 143,688 | 146,241 | |||||||||
Licenses — Net | 98,397 | 97,907 | |||||||||
Trademarks and Trade Names — Net | 23,575 | 23,567 | |||||||||
Distribution Networks — Net | 14,249 | 15,345 | |||||||||
Other Intangible Assets — Net | 17,523 | 20,798 | |||||||||
Investments in and Advances to Equity Affiliates | 2,325 | 3,695 | |||||||||
Operating Lease Right-Of-Use Assets | 24,546 | 24,039 | |||||||||
Other Assets | 21,609 | 22,754 | |||||||||
Total Assets | $ | 538,553 | $ | 551,669 | |||||||
Liabilities and Stockholders’ Equity | |||||||||||
Current Liabilities | |||||||||||
Debt maturing within one year | $ | 5,898 | $ | 11,838 | |||||||
Accounts payable and accrued liabilities | 42,728 | 45,956 | |||||||||
Advanced billings and customer deposits | 5,862 | 6,124 | |||||||||
Accrued taxes | 1,336 | 1,212 | |||||||||
Dividends payable | 3,741 | 3,781 | |||||||||
Total current liabilities | 59,565 | 68,911 | |||||||||
Long-Term Debt | 152,980 | 151,309 | |||||||||
Deferred Credits and Other Noncurrent Liabilities | |||||||||||
Deferred income taxes | 60,448 | 59,502 | |||||||||
Postemployment benefit obligation | 17,928 | 18,788 | |||||||||
Operating lease liabilities | 22,056 | 21,804 | |||||||||
Other noncurrent liabilities | 30,520 | 29,421 | |||||||||
Total deferred credits and other noncurrent liabilities | 130,952 | 129,515 | |||||||||
Stockholders’ Equity | |||||||||||
Preferred stock | — | — | |||||||||
Common stock | 7,621 | 7,621 | |||||||||
Additional paid-in capital | 130,139 | 126,279 | |||||||||
Retained earnings | 55,094 | 57,936 | |||||||||
Treasury stock | (17,950) | (13,085) | |||||||||
Accumulated other comprehensive income | 649 | 5,470 | |||||||||
Noncontrolling interest | 19,503 | 17,713 | |||||||||
Total stockholders’ equity | 195,056 | 201,934 | |||||||||
Total Liabilities and Stockholders’ Equity | $ | 538,553 | $ | 551,669 | |||||||
AT&T Inc. | |||||||||||
Financial Data | |||||||||||
Consolidated Statements of Cash Flows | |||||||||||
Dollars in millions | |||||||||||
Unaudited | Nine-Month Period | ||||||||||
2020 | 2019 | ||||||||||
Operating Activities | |||||||||||
Net income | $ | 9,694 | $ | 12,271 | |||||||
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||
Depreciation and amortization | 21,537 | 21,256 | |||||||||
Amortization of television and film costs | 6,448 | 7,059 | |||||||||
Undistributed earnings from investments in equity affiliates | 108 | 81 | |||||||||
Provision for uncollectible accounts | 1,611 | 1,855 | |||||||||
Deferred income tax expense | 2,248 | 1,039 | |||||||||
Net (gain) loss on investments, net of impairments | (689) | (1,014) | |||||||||
Pension and postretirement benefit expense (credit) | (2,245) | (1,297) | |||||||||
Actuarial (gain) loss on pension and postretirement benefits | 63 | 4,048 | |||||||||
Asset impairments and abandonments | 2,515 | — | |||||||||
Changes in operating assets and liabilities: | |||||||||||
Receivables | 2,321 | 2,503 | |||||||||
Other current assets, inventories and theatrical film and television production costs | (7,836) | (9,337) | |||||||||
Accounts payable and other accrued liabilities | (4,905) | (936) | |||||||||
Equipment installment receivables and related sales | (148) | 848 | |||||||||
Deferred customer contract acquisition and fulfillment costs | 453 | (796) | |||||||||
Postretirement claims and contributions | (409) | (635) | |||||||||
Other - net | 2,282 | (220) | |||||||||
Total adjustments | 23,354 | 24,454 | |||||||||
Net Cash Provided by Operating Activities | 33,048 | 36,725 | |||||||||
Investing Activities | |||||||||||
Capital expenditures, including $(92) and $(160) of interest during construction | (13,283) | (15,843) | |||||||||
Acquisitions, net of cash acquired | (1,215) | (1,124) | |||||||||
Dispositions | 428 | 3,775 | |||||||||
(Purchases), sales and settlements of securities and investments, net | 444 | 523 | |||||||||
Advances to and investments in equity affiliates, net | (100) | (333) | |||||||||
Net Cash Used in Investing Activities | (13,726) | (13,002) | |||||||||
Financing Activities | |||||||||||
Net change in short-term borrowings with original maturities of three months or less | (17) | (22) | |||||||||
Issuance of other short-term borrowings | 9,440 | 4,012 | |||||||||
Repayment of other short-term borrowings | (7,710) | (4,702) | |||||||||
Issuance of long-term debt | 31,987 | 15,034 | |||||||||
Repayment of long-term debt | (37,583) | (24,368) | |||||||||
Payment of vendor financing | (1,965) | (2,601) | |||||||||
Issuance of preferred stock | 3,869 | — | |||||||||
Purchase of treasury stock | (5,483) | (409) | |||||||||
Issuance of treasury stock | 88 | 576 | |||||||||
Issuance of preferred interests in subsidiary | 1,979 | 1,488 | |||||||||
Dividends paid | (11,215) | (11,162) | |||||||||
Other | (5,158) | (187) | |||||||||
Net Cash Used in Financing Activities | (21,768) | (22,341) | |||||||||
Net (decrease) increase in cash and cash equivalents and restricted cash | (2,446) | 1,382 | |||||||||
Cash and cash equivalents and restricted cash beginning of year | 12,295 | 5,400 | |||||||||
Cash and Cash Equivalents and Restricted Cash End of Period | $ | 9,849 | $ | 6,782 | |||||||
AT&T Inc. | ||||||||||||||||||||
Consolidated Supplementary Data | ||||||||||||||||||||
Supplementary Financial Data | ||||||||||||||||||||
Dollars in millions except per share amounts | ||||||||||||||||||||
Unaudited | Third Quarter | Percent | Nine-Month Period | Percent | ||||||||||||||||
2020 | 2019 | Change | 2020 | 2019 | Change | |||||||||||||||
Capital expenditures | ||||||||||||||||||||
Purchase of property and equipment | $ | 3,819 | $ | 5,141 | (25.7) | % | $ | 13,191 | $ | 15,683 | (15.9) | % | ||||||||
Interest during construction | 32 | 48 | (33.3) | % | 92 | 160 | (42.5) | % | ||||||||||||
Total Capital Expenditures | $ | 3,851 | $ | 5,189 | (25.8) | % | $ | 13,283 | $ | 15,843 | (16.2) | % | ||||||||
Dividends Declared per Common Share | $ | 0.52 | $ | 0.51 | 2.0 | % | $ | 1.56 | $ | 1.53 | 2.0 | % | ||||||||
End of Period Common Shares Outstanding (000,000) | 7,125 | 7,303 | (2.4) | % | ||||||||||||||||
Debt Ratio | 44.9 | % | 45.9 | % | (100) | BP | ||||||||||||||
Total Employees | 234,630 | 251,840 | (6.8) | % | ||||||||||||||||
Supplementary Operating Data | ||||||||||||||||||||
Subscribers and connections in thousands | ||||||||||||||||||||
Unaudited | September 30, | Percent | ||||||||||||||||||
2020 | 2019 | Change | ||||||||||||||||||
Broadband Connections | ||||||||||||||||||||
IP | 14,761 | 14,786 | (0.2) | % | ||||||||||||||||
DSL | 614 | 789 | (22.2) | % | ||||||||||||||||
Total Broadband Connections | 15,375 | 15,575 | (1.3) | % | ||||||||||||||||
Voice Connections | ||||||||||||||||||||
Network Access Lines | 7,562 | 8,831 | (14.4) | % | ||||||||||||||||
U-verse VoIP Connections | 3,942 | 4,539 | (13.2) | % | ||||||||||||||||
Total Retail Voice Connections | 11,504 | 13,370 | (14.0) | % | ||||||||||||||||
Third Quarter | Percent | Nine-Month Period | Percent | |||||||||||||||||
2020 | 2019 | Change | 2020 | 2019 | Change | |||||||||||||||
Broadband Net Additions | ||||||||||||||||||||
IP | 213 | (74) | — | % | 102 | 33 | — | % | ||||||||||||
DSL | (39) | (49) | 20.4 | % | (116) | (160) | 27.5 | % | ||||||||||||
Total Broadband Net Additions | 174 | (123) | — | % | (14) | (127) | 89.0 | % |
Segment Results | ||||||||||||||||||||
Dollars in millions | ||||||||||||||||||||
Unaudited | Third Quarter | Percent | Nine-Month Period | Percent | ||||||||||||||||
2020 | 2019 | Change | 2020 | 2019 | Change | |||||||||||||||
Segment Operating Revenues | ||||||||||||||||||||
Mobility | $ | 17,894 | $ | 17,701 | 1.1 | % | $ | 52,445 | $ | 52,356 | 0.2 | % | ||||||||
Entertainment Group | 10,053 | 11,197 | (10.2) | % | 30,637 | 33,893 | (9.6) | % | ||||||||||||
Business Wireline | 6,340 | 6,503 | (2.5) | % | 19,046 | 19,588 | (2.8) | % | ||||||||||||
Total Segment Operating Revenues | 34,287 | 35,401 | (3.1) | % | 102,128 | 105,837 | (3.5) | % | ||||||||||||
Segment Operating Contribution | ||||||||||||||||||||
Mobility | 5,691 | 5,742 | (0.9) | % | 17,284 | 16,818 | 2.8 | % | ||||||||||||
Entertainment Group | 779 | 1,084 | (28.1) | % | 3,144 | 4,076 | (22.9) | % | ||||||||||||
Business Wireline | 1,178 | 1,210 | (2.6) | % | 3,535 | 3,824 | (7.6) | % | ||||||||||||
Total Segment Operating Contribution | $ | 7,648 | $ | 8,036 | (4.8) | % | $ | 23,963 | $ | 24,718 | (3.1) | % | ||||||||
Mobility Results | ||||||||||||||||||||
Dollars in millions | ||||||||||||||||||||
Unaudited | Third Quarter | Percent | Nine-Month Period | Percent | ||||||||||||||||
2020 | 2019 | Change | 2020 | 2019 | Change | |||||||||||||||
Operating Revenues | ||||||||||||||||||||
Service | $ | 13,883 | $ | 13,930 | (0.3) | % | $ | 41,520 | $ | 41,383 | 0.3 | % | ||||||||
Equipment | 4,011 | 3,771 | 6.4 | % | 10,925 | 10,973 | (0.4) | % | ||||||||||||
Total Operating Revenues | 17,894 | 17,701 | 1.1 | % | 52,445 | 52,356 | 0.2 | % | ||||||||||||
Operating Expenses | ||||||||||||||||||||
Operations and support | 10,182 | 9,948 | 2.4 | % | 29,083 | 29,511 | (1.5) | % | ||||||||||||
Depreciation and amortization | 2,021 | 2,011 | 0.5 | % | 6,078 | 6,027 | 0.8 | % | ||||||||||||
Total Operating Expenses | 12,203 | 11,959 | 2.0 | % | 35,161 | 35,538 | (1.1) | % | ||||||||||||
Operating Income | 5,691 | 5,742 | (0.9) | % | 17,284 | 16,818 | 2.8 | % | ||||||||||||
Equity in Net Income (Loss) of Affiliates | — | — | — | % | — | — | — | % | ||||||||||||
Operating Contribution | $ | 5,691 | $ | 5,742 | (0.9) | % | $ | 17,284 | $ | 16,818 | 2.8 | % | ||||||||
Operating Income Margin | 31.8 | % | 32.4 | % | (60) | BP | 33.0 | % | 32.1 | % | 90 | BP | ||||||||
Supplementary Operating Data | ||||||||||||||||||||
Subscribers and connections in thousands | ||||||||||||||||||||
Unaudited | September 30, | Percent | ||||||||||||||||||
2020 | 2019 | Change | ||||||||||||||||||
Mobility Subscribers | ||||||||||||||||||||
Postpaid | 75,969 | 75,152 | 1.1 | % | ||||||||||||||||
Prepaid | 18,100 | 17,740 | 2.0 | % | ||||||||||||||||
Reseller | 6,708 | 7,120 | (5.8) | % | ||||||||||||||||
Connected Devices | 75,967 | 62,288 | 22.0 | % | ||||||||||||||||
Total Mobility Subscribers | 176,744 | 162,300 | 8.9 | % | ||||||||||||||||
Third Quarter | Percent | Nine-Month Period | Percent | |||||||||||||||||
2020 | 2019 | Change | 2020 | 2019 | Change | |||||||||||||||
Mobility Net Additions | ||||||||||||||||||||
Postpaid Phone Net Additions1 | 645 | 101 | — | % | 657 | 254 | — | % | ||||||||||||
Total Phone Net Additions1 | 776 | 255 | — | % | 880 | 780 | 12.8 | % | ||||||||||||
Postpaid1, 2 | 1,081 | (217) | — | % | 954 | (570) | — | % | ||||||||||||
Prepaid2,3 | 245 | 227 | 7.9 | % | 365 | 669 | (45.4) | % | ||||||||||||
Reseller2 | (4) | (231) | 98.3 | % | (252) | (677) | 62.8 | % | ||||||||||||
Connected Devices | 4,203 | 3,900 | 7.8 | % | 9,976 | 10,947 | (8.9) | % | ||||||||||||
Total Mobility Net Additions | 5,525 | 3,679 | 50.2 | % | 11,043 | 10,369 | 6.5 | % | ||||||||||||
Postpaid Churn1 | 0.85 | % | 1.19 | % | (34) | BP | 0.99 | % | 1.14 | % | (15) BP | |||||||||
Postpaid Phone-Only Churn1 | 0.69 | % | 0.95 | % | (26) | BP | 0.80 | % | 0.91 | % | (11) BP | |||||||||
1The third quarter ended September 30, 2020 includes 233 (151 phone) "Keep Americans Connected Pledge" paying accounts. The third quarter and nine-month period ended September 30, 2020 exclude 121 (97 phone) customers who we have agreed not to terminate service under the "Keep Americans Connected Pledge." The third quarter and nine-month period ended September 30, 2020 postpaid churn excluding "Keep Americans Connected Pledge" paying accounts was 0.95% (0.77% phone) and 1.02% (0.82% phone), respectively. | ||||||||||||||||||||
2The third quarter and nine-month period ended September 30, 2020, exclude subscribers transferred in connection with business dispositions. | ||||||||||||||||||||
3The third quarter and nine-month period ended September 30, 2020, exclude 188 subscriber disconnections resulting from updating our prepaid activation policy. |
Entertainment Group Results | ||||||||||||||||||||
Dollars in millions | ||||||||||||||||||||
Unaudited | Third Quarter | Percent | Nine-Month Period | Percent | ||||||||||||||||
2020 | 2019 | Change | 2020 | 2019 | Change | |||||||||||||||
Operating Revenues | ||||||||||||||||||||
Video entertainment | $ | 6,964 | $ | 7,933 | (12.2) | % | $ | 21,335 | $ | 24,042 | (11.3) | % | ||||||||
High-speed internet | 2,128 | 2,117 | 0.5 | % | 6,329 | 6,296 | 0.5 | % | ||||||||||||
Legacy voice and data services | 538 | 628 | (14.3) | % | 1,679 | 1,969 | (14.7) | % | ||||||||||||
Other service and equipment | 423 | 519 | (18.5) | % | 1,294 | 1,586 | (18.4) | % | ||||||||||||
Total Operating Revenues | 10,053 | 11,197 | (10.2) | % | 30,637 | 33,893 | (9.6) | % | ||||||||||||
Operating Expenses | ||||||||||||||||||||
Operations and support | 7,997 | 8,797 | (9.1) | % | 23,618 | 25,839 | (8.6) | % | ||||||||||||
Depreciation and amortization | 1,277 | 1,316 | (3.0) | % | 3,875 | 3,978 | (2.6) | % | ||||||||||||
Total Operating Expenses | 9,274 | 10,113 | (8.3) | % | 27,493 | 29,817 | (7.8) | % | ||||||||||||
Operating Income | 779 | 1,084 | (28.1) | % | 3,144 | 4,076 | (22.9) | % | ||||||||||||
Equity in Net Income (Loss) of Affiliates | — | — | — | % | — | — | — | % | ||||||||||||
Operating Contribution | $ | 779 | $ | 1,084 | (28.1) | % | $ | 3,144 | $ | 4,076 | (22.9) | % | ||||||||
Operating Income Margin | 7.7 | % | 9.7 | % | (200) | BP | 10.3 | % | 12.0 | % | (170) | BP | ||||||||
Supplementary Operating Data | ||||||||||||||||||||
Subscribers and connections in thousands | ||||||||||||||||||||
Unaudited | September 30, | Percent | ||||||||||||||||||
2020 | 2019 | Change | ||||||||||||||||||
Video Connections | ||||||||||||||||||||
Premium TV | 17,100 | 20,418 | (16.3) | % | ||||||||||||||||
AT&T TV Now | 683 | 1,145 | (40.3) | % | ||||||||||||||||
Total Video Connections | 17,783 | 21,563 | (17.5) | % | ||||||||||||||||
Broadband Connections | ||||||||||||||||||||
Total Broadband Connections | 14,102 | 14,301 | (1.4) | % | ||||||||||||||||
Fiber Broadband Connections | 4,678 | 3,696 | 26.6 | % | ||||||||||||||||
Voice Connections | ||||||||||||||||||||
Retail Consumer Switched Access Lines | 2,977 | 3,467 | (14.1) | % | ||||||||||||||||
U-verse Consumer VoIP Connections | 3,361 | 3,973 | (15.4) | % | ||||||||||||||||
Total Retail Consumer Voice Connections | 6,338 | 7,440 | (14.8) | % | ||||||||||||||||
Third Quarter | Percent | Nine-Month Period | Percent | |||||||||||||||||
2020 | 2019 | Change | 2020 | 2019 | Change | |||||||||||||||
Video Net Additions | ||||||||||||||||||||
Premium TV1 | (590) | (1,163) | 49.3 | % | (2,373) | (2,485) | 4.5 | % | ||||||||||||
AT&T TV Now | (37) | (195) | 81.0 | % | (243) | (446) | 45.5 | % | ||||||||||||
Total Video Net Additions | (627) | (1,358) | 53.8 | % | (2,616) | (2,931) | 10.7 | % | ||||||||||||
Broadband Net Additions | ||||||||||||||||||||
Total Broadband Net Additions1 | 158 | (119) | — | % | (17) | (108) | 84.3 | % | ||||||||||||
Fiber Broadband Net Additions1 | 357 | 318 | 12.3 | % | 791 | 933 | (15.2) | % | ||||||||||||
1The third quarter ended September 30, 2020 includes 116 premium TV and 104 broadband (28 fiber) "Keep Americans Connected Pledge" paying accounts. The third quarter and nine-month period ended September 30, 2020 excludes 7 premium TV and 13 broadband (4 fiber) connections who we have agreed not to terminate service under the "Keep Americans Connected Pledge." |
Business Wireline Results | ||||||||||||||||||||
Dollars in millions | ||||||||||||||||||||
Unaudited | Third Quarter | Percent | Nine-Month Period | Percent | ||||||||||||||||
2020 | 2019 | Change | 2020 | 2019 | Change | |||||||||||||||
Operating Revenues | ||||||||||||||||||||
Strategic and managed services | $ | 3,967 | $ | 3,900 | 1.7 | % | $ | 11,789 | $ | 11,513 | 2.4 | % | ||||||||
Legacy voice and data services | 2,031 | 2,252 | (9.8) | % | 6,227 | 6,973 | (10.7) | % | ||||||||||||
Other service and equipment | 342 | 351 | (2.6) | % | 1,030 | 1,102 | (6.5) | % | ||||||||||||
Total Operating Revenues | 6,340 | 6,503 | (2.5) | % | 19,046 | 19,588 | (2.8) | % | ||||||||||||
Operating Expenses | ||||||||||||||||||||
Operations and support | 3,833 | 4,022 | (4.7) | % | 11,563 | 12,029 | (3.9) | % | ||||||||||||
Depreciation and amortization | 1,329 | 1,271 | 4.6 | % | 3,948 | 3,735 | 5.7 | % | ||||||||||||
Total Operating Expenses | 5,162 | 5,293 | (2.5) | % | 15,511 | 15,764 | (1.6) | % | ||||||||||||
Operating Income | 1,178 | 1,210 | (2.6) | % | 3,535 | 3,824 | (7.6) | % | ||||||||||||
Equity in Net Income (Loss) of Affiliates | — | — | — | % | — | — | — | % | ||||||||||||
Operating Contribution | $ | 1,178 | $ | 1,210 | (2.6) | % | $ | 3,535 | $ | 3,824 | (7.6) | % | ||||||||
Operating Income Margin | 18.6 | % | 18.6 | % | — | BP | 18.6 | % | 19.5 | % | (90) | BP |
Business Solutions Results | ||||||||||||||||||||
Dollars in millions | ||||||||||||||||||||
Unaudited | Third Quarter | Percent | Nine-Month Period | Percent | ||||||||||||||||
2020 | 2019 | Change | 2020 | 2019 | Change | |||||||||||||||
Operating Revenues | ||||||||||||||||||||
Wireless service | $ | 1,951 | $ | 1,888 | 3.3 | % | $ | 5,784 | $ | 5,546 | 4.3 | % | ||||||||
Strategic and managed services | 3,967 | 3,900 | 1.7 | % | 11,789 | 11,513 | 2.4 | % | ||||||||||||
Legacy voice and data services | 2,031 | 2,252 | (9.8) | % | 6,227 | 6,973 | (10.7) | % | ||||||||||||
Other service and equipment | 342 | 351 | (2.6) | % | 1,030 | 1,102 | (6.5) | % | ||||||||||||
Wireless equipment | 662 | 692 | (4.3) | % | 1,957 | 1,899 | 3.1 | % | ||||||||||||
Total Operating Revenues | 8,953 | 9,083 | (1.4) | % | 26,787 | 27,033 | (0.9) | % | ||||||||||||
Operating Expenses | ||||||||||||||||||||
Operations and support | 5,508 | 5,645 | (2.4) | % | 16,642 | 16,771 | (0.8) | % | ||||||||||||
Depreciation and amortization | 1,650 | 1,573 | 4.9 | % | 4,912 | 4,643 | 5.8 | % | ||||||||||||
Total Operating Expenses | 7,158 | 7,218 | (0.8) | % | 21,554 | 21,414 | 0.7 | % | ||||||||||||
Operating Income | 1,795 | 1,865 | (3.8) | % | 5,233 | 5,619 | (6.9) | % | ||||||||||||
Equity in Net Income (Loss) of Affiliates | — | — | — | % | — | — | — | % | ||||||||||||
Operating Contribution | $ | 1,795 | $ | 1,865 | (3.8) | % | $ | 5,233 | $ | 5,619 | (6.9) | % | ||||||||
Operating Income Margin | 20.0 | % | 20.5 | % | (50) | BP | 19.5 | % | 20.8 | % | (130) | BP |
Segment Results | ||||||||||||||||||||
Dollars in millions | ||||||||||||||||||||
Unaudited | Third Quarter | Percent | Nine-Month Period | Percent | ||||||||||||||||
2020 | 2019 | Change | 2020 | 2019 | Change | |||||||||||||||
Segment Operating Revenues | ||||||||||||||||||||
Turner | $ | 3,176 | $ | 3,007 | 5.6 | % | $ | 9,326 | $ | 9,860 | (5.4) | % | ||||||||
HBO | 1,781 | 1,819 | (2.1) | % | 4,905 | 5,045 | (2.8) | % | ||||||||||||
Warner Bros. | 2,411 | 3,333 | (27.7) | % | 8,907 | 10,240 | (13.0) | % | ||||||||||||
Eliminations and other | 146 | 191 | (23.6) | % | (962) | 845 | — | % | ||||||||||||
Total Segment Operating Revenues | 7,514 | 8,350 | (10.0) | % | 22,176 | 25,990 | (14.7) | % | ||||||||||||
Cost of revenues | ||||||||||||||||||||
Turner | 1,689 | 1,036 | 63.0 | % | 3,974 | 4,512 | (11.9) | % | ||||||||||||
HBO | 1,244 | 847 | 46.9 | % | 3,155 | 2,356 | 33.9 | % | ||||||||||||
Warner Bros. | 1,600 | 2,261 | (29.2) | % | 6,179 | 7,183 | (14.0) | % | ||||||||||||
Selling, general and administrative | 1,364 | 1,278 | 6.7 | % | 4,152 | 3,994 | 4.0 | % | ||||||||||||
Eliminations and other | (313) | (93) | — | % | (1,455) | (127) | — | % | ||||||||||||
Depreciation and amortization | 171 | 165 | 3.6 | % | 501 | 425 | 17.9 | % | ||||||||||||
Total Operating Expenses | 5,755 | 5,494 | 4.8 | % | 16,506 | 18,343 | (10.0) | % | ||||||||||||
Operating Income | 1,759 | 2,856 | (38.4) | % | 5,670 | 7,647 | (25.9) | % | ||||||||||||
Equity in Net Income of Affiliates | 11 | 15 | (26.7) | % | 30 | 137 | (78.1) | % | ||||||||||||
Total Segment Operating Contribution | $ | 1,770 | $ | 2,871 | (38.3) | % | $ | 5,700 | $ | 7,784 | (26.8) | % | ||||||||
Turner Results | ||||||||||||||||||||
Dollars in millions | ||||||||||||||||||||
Unaudited | Third Quarter | Percent | Nine-Month Period | Percent | ||||||||||||||||
2020 | 2019 | Change | 2020 | 2019 | Change | |||||||||||||||
Operating Revenues | ||||||||||||||||||||
Subscription | $ | 1,840 | $ | 1,927 | (4.5) | % | $ | 5,693 | $ | 5,835 | (2.4) | % | ||||||||
Advertising | 1,077 | 913 | 18.0 | % | 2,830 | 3,440 | (17.7) | % | ||||||||||||
Content and other | 259 | 167 | 55.1 | % | 803 | 585 | 37.3 | % | ||||||||||||
Total Operating Revenues | 3,176 | 3,007 | 5.6 | % | 9,326 | 9,860 | (5.4) | % | ||||||||||||
Operating Expenses | ||||||||||||||||||||
Cost of revenues | 1,689 | 1,036 | 63.0 | % | 3,974 | 4,512 | (11.9) | % | ||||||||||||
Selling, general and administrative | 399 | 424 | (5.9) | % | 1,171 | 1,301 | (10.0) | % | ||||||||||||
Depreciation and amortization | 69 | 68 | 1.5 | % | 207 | 167 | 24.0 | % | ||||||||||||
Total Operating Expenses | 2,157 | 1,528 | 41.2 | % | 5,352 | 5,980 | (10.5) | % | ||||||||||||
Operating Income | 1,019 | 1,479 | (31.1) | % | 3,974 | 3,880 | 2.4 | % | ||||||||||||
Equity in Net Income (Loss) of Affiliates | (6) | 10 | — | % | — | 46 | — | % | ||||||||||||
Operating Contribution | $ | 1,013 | $ | 1,489 | (32.0) | % | $ | 3,974 | $ | 3,926 | 1.2 | % | ||||||||
Operating Income Margin | 32.1 | % | 49.2 | % | (1,710) | BP | 42.6 | % | 39.4 | % | 320 | BP |
Home Box Office Results | ||||||||||||||||||||
Dollars in millions | ||||||||||||||||||||
Unaudited | Third Quarter | Percent | Nine-Month Period | Percent | ||||||||||||||||
2020 | 2019 | Change | 2020 | 2019 | Change | |||||||||||||||
Operating Revenues | ||||||||||||||||||||
Subscription | $ | 1,624 | $ | 1,533 | 5.9 | % | $ | 4,403 | $ | 4,383 | 0.5 | % | ||||||||
Content and other | 157 | 286 | (45.1) | % | 502 | 662 | (24.2) | % | ||||||||||||
Total Operating Revenues | 1,781 | 1,819 | (2.1) | % | 4,905 | 5,045 | (2.8) | % | ||||||||||||
Operating Expenses | ||||||||||||||||||||
Cost of revenues | 1,244 | 847 | 46.9 | % | 3,155 | 2,356 | 33.9 | % | ||||||||||||
Selling, general and administrative | 450 | 225 | — | % | 1,081 | 768 | 40.8 | % | ||||||||||||
Depreciation and amortization | 27 | 33 | (18.2) | % | 73 | 67 | 9.0 | % | ||||||||||||
Total Operating Expenses | 1,721 | 1,105 | 55.7 | % | 4,309 | 3,191 | 35.0 | % | ||||||||||||
Operating Income | 60 | 714 | (91.6) | % | 596 | 1,854 | (67.9) | % | ||||||||||||
Equity in Net Income of Affiliates | — | 10 | — | % | 15 | 40 | (62.5) | % | ||||||||||||
Operating Contribution | $ | 60 | $ | 724 | (91.7) | % | $ | 611 | $ | 1,894 | (67.7) | % | ||||||||
Operating Income Margin | 3.4 | % | 39.3 | % | (3,590) | BP | 12.2 | % | 36.7 | % | (2,450) | BP |
Warner Bros. Results | ||||||||||||||||||||
Dollars in millions | ||||||||||||||||||||
Unaudited | Third Quarter | Percent | Nine-Month Period | Percent | ||||||||||||||||
2020 | 2019 | Change | 2020 | 2019 | Change | |||||||||||||||
Operating Revenues | ||||||||||||||||||||
Theatrical product | $ | 1,068 | $ | 1,375 | (22.3) | % | $ | 3,203 | $ | 4,408 | (27.3) | % | ||||||||
Television product | 960 | 1,461 | (34.3) | % | 4,605 | 4,384 | 5.0 | % | ||||||||||||
Video games and other | 383 | 497 | (22.9) | % | 1,099 | 1,448 | (24.1) | % | ||||||||||||
Total Operating Revenues | 2,411 | 3,333 | (27.7) | % | 8,907 | 10,240 | (13.0) | % | ||||||||||||
Operating Expenses | ||||||||||||||||||||
Cost of revenues | 1,600 | 2,261 | (29.2) | % | 6,179 | 7,183 | (14.0) | % | ||||||||||||
Selling, general and administrative | 373 | 445 | (16.2) | % | 1,327 | 1,360 | (2.4) | % | ||||||||||||
Depreciation and amortization | 43 | 39 | 10.3 | % | 124 | 122 | 1.6 | % | ||||||||||||
Total Operating Expenses | 2,016 | 2,745 | (26.6) | % | 7,630 | 8,665 | (11.9) | % | ||||||||||||
Operating Income | 395 | 588 | (32.8) | % | 1,277 | 1,575 | (18.9) | % | ||||||||||||
Equity in Net Income (Loss) of Affiliates | (23) | (25) | 8.0 | % | (50) | (19) | — | % | ||||||||||||
Operating Contribution | $ | 372 | $ | 563 | (33.9) | % | $ | 1,227 | $ | 1,556 | (21.1) | % | ||||||||
Operating Income Margin | 16.4 | % | 17.6 | % | (120) | BP | 14.3 | % | 15.4 | % | (110) | BP |
Segment Results | ||||||||||||||||||||
Dollars in millions | ||||||||||||||||||||
Unaudited | Third Quarter | Percent | Nine-Month Period | Percent | ||||||||||||||||
2020 | 2019 | Change | 2020 | 2019 | Change | |||||||||||||||
Segment Operating Revenues | ||||||||||||||||||||
Vrio | $ | 753 | $ | 1,013 | (25.7) | % | $ | 2,392 | $ | 3,112 | (23.1) | % | ||||||||
Mexico | 643 | 717 | (10.3) | % | 1,826 | 2,093 | (12.8) | % | ||||||||||||
Total Segment Operating Revenues | 1,396 | 1,730 | (19.3) | % | 4,218 | 5,205 | (19.0) | % | ||||||||||||
Segment Operating Contribution | ||||||||||||||||||||
Vrio | (34) | 13 | — | % | (101) | 43 | — | % | ||||||||||||
Mexico | (143) | (179) | 20.1 | % | (461) | (591) | 22.0 | % | ||||||||||||
Total Segment Operating Contribution | $ | (177) | $ | (166) | (6.6) | % | $ | (562) | $ | (548) | (2.6) | % | ||||||||
Vrio Results | ||||||||||||||||||||
Dollars in millions | ||||||||||||||||||||
Unaudited | Third Quarter | Percent | Nine-Month Period | Percent | ||||||||||||||||
2020 | 2019 | Change | 2020 | 2019 | Change | |||||||||||||||
Operating Revenues | $ | 753 | $ | 1,013 | (25.7) | % | $ | 2,392 | $ | 3,112 | (23.1) | % | ||||||||
Operating Expenses | ||||||||||||||||||||
Operations and support | 675 | 851 | (20.7) | % | 2,119 | 2,598 | (18.4) | % | ||||||||||||
Depreciation and amortization | 126 | 162 | (22.2) | % | 400 | 496 | (19.4) | % | ||||||||||||
Total Operating Expenses | 801 | 1,013 | (20.9) | % | 2,519 | 3,094 | (18.6) | % | ||||||||||||
Operating Income | (48) | — | — | % | (127) | 18 | — | % | ||||||||||||
Equity in Net Income of Affiliates | 14 | 13 | 7.7 | % | 26 | 25 | 4.0 | % | ||||||||||||
Operating Contribution | $ | (34) | $ | 13 | — | % | $ | (101) | $ | 43 | — | % | ||||||||
Operating Income Margin | (6.4) | % | — | % | (640) | BP | (5.3) | % | 0.6 | % | (590) | BP | ||||||||
Supplementary Operating Data | ||||||||||||||||||||
Subscribers and connections in thousands | ||||||||||||||||||||
Unaudited | September 30, | Percent | ||||||||||||||||||
2020 | 2019 | Change | ||||||||||||||||||
Vrio Video Subscribers | 10,893 | 13,306 | (18.1) | % | ||||||||||||||||
Third Quarter | Percent | Nine-Month Period | Percent | |||||||||||||||||
2020 | 2019 | Change | 2020 | 2019 | Change | |||||||||||||||
Vrio Video Net Additions1 | 229 | (167) | — | % | (197) | (310) | 36.5 | % | ||||||||||||
1The nine-month period ended September 30, 2020 excludes the impact of 2.2 million subscriber disconnections resulting from the closure of our DIRECTV operations in Venezuela. |
Mexico Results | ||||||||||||||||||||
Dollars in millions | ||||||||||||||||||||
Unaudited | Third Quarter | Percent | Nine-Month Period | Percent | ||||||||||||||||
2020 | 2019 | Change | 2020 | 2019 | Change | |||||||||||||||
Operating Revenues | ||||||||||||||||||||
Wireless service | $ | 385 | $ | 455 | (15.4) | % | $ | 1,197 | $ | 1,376 | (13.0) | % | ||||||||
Wireless equipment | 258 | 262 | (1.5) | % | 629 | 717 | (12.3) | % | ||||||||||||
Total Operating Revenues | 643 | 717 | (10.3) | % | 1,826 | 2,093 | (12.8) | % | ||||||||||||
Operating Expenses | ||||||||||||||||||||
Operations and support | 662 | 774 | (14.5) | % | 1,914 | 2,312 | (17.2) | % | ||||||||||||
Depreciation and amortization | 124 | 122 | 1.6 | % | 373 | 372 | 0.3 | % | ||||||||||||
Total Operating Expenses | 786 | 896 | (12.3) | % | 2,287 | 2,684 | (14.8) | % | ||||||||||||
Operating Income (Loss) | (143) | (179) | 20.1 | % | (461) | (591) | 22.0 | % | ||||||||||||
Equity in Net Income of Affiliates | — | — | — | % | — | — | — | % | ||||||||||||
Operating Contribution | $ | (143) | $ | (179) | 20.1 | % | $ | (461) | $ | (591) | 22.0 | % | ||||||||
Operating Income Margin | (22.2) | % | (25.0) | % | 280 | BP | (25.2) | % | (28.2) | % | 300 | BP | ||||||||
Supplementary Operating Data | ||||||||||||||||||||
Subscribers and connections in thousands | ||||||||||||||||||||
Unaudited | September 30, | Percent | ||||||||||||||||||
2020 | 2019 | Change | ||||||||||||||||||
Mexico Wireless Subscribers | ||||||||||||||||||||
Postpaid | 4,710 | 5,352 | (12.0) | % | ||||||||||||||||
Prepaid | 13,249 | 12,848 | 3.1 | % | ||||||||||||||||
Reseller | 455 | 419 | 8.6 | % | ||||||||||||||||
Total Mexico Wireless Subscribers | 18,414 | 18,619 | (1.1) | % | ||||||||||||||||
Third Quarter | Percent | Nine-Month Period | Percent | |||||||||||||||||
2020 | 2019 | Change | 2020 | 2019 | Change | |||||||||||||||
Mexico Wireless Net Additions1 | ||||||||||||||||||||
Postpaid | (61) | (137) | 55.5 | % | (393) | (359) | (9.5) | % | ||||||||||||
Prepaid | 472 | 668 | (29.3) | % | (335) | 1,183 | — | % | ||||||||||||
Reseller | 30 | 67 | (55.2) | % | 83 | 166 | (50.0) | % | ||||||||||||
Total Mexico Wireless Net Additions | 441 | 598 | (26.3) | % | (645) | 990 | — | % | ||||||||||||
1The nine-month period ended September 30, 2020 excludes the impact of 101 subscriber disconnections resulting from conforming our policy on reporting of fixed wireless resellers. |
Advertising Revenues | ||||||||||||||||||||
Dollars in millions | ||||||||||||||||||||
Unaudited | Third Quarter | Percent | Nine-Month Period | Percent | ||||||||||||||||
2020 | 2019 | Change | 2020 | 2019 | Change | |||||||||||||||
Operating Revenues | ||||||||||||||||||||
Turner | $ | 1,077 | $ | 913 | 18.0 | % | $ | 2,830 | $ | 3,440 | (17.7) | % | ||||||||
Entertainment Group | 408 | 421 | (3.1) | % | 1,115 | 1,170 | (4.7) | % | ||||||||||||
Xandr | 497 | 504 | (1.4) | % | 1,348 | 1,415 | (4.7) | % | ||||||||||||
Other | 105 | 106 | (0.9) | % | 278 | 281 | (1.1) | % | ||||||||||||
Eliminations | (408) | (421) | 3.1 | % | (1,115) | (1,170) | 4.7 | % | ||||||||||||
Total Advertising Revenues | $ | 1,679 | $ | 1,523 | 10.2 | % | $ | 4,456 | $ | 5,136 | (13.2) | % | ||||||||
Three Months Ended | |||||||||||||||||||||||
Dollars in millions | |||||||||||||||||||||||
Unaudited | |||||||||||||||||||||||
September 30, 2020 | |||||||||||||||||||||||
Revenues | Operations and Support Expenses | EBITDA | Depreciation and Amortization | Operating Income (Loss) | Equity in Net Income (Loss) of Affiliates | Segment Contribution | |||||||||||||||||
Communications | |||||||||||||||||||||||
Mobility | $ | 17,894 | $ | 10,182 | $ | 7,712 | $ | 2,021 | $ | 5,691 | $ | — | $ | 5,691 | |||||||||
Entertainment Group | 10,053 | 7,997 | 2,056 | 1,277 | 779 | — | 779 | ||||||||||||||||
Business Wireline | 6,340 | 3,833 | 2,507 | 1,329 | 1,178 | — | 1,178 | ||||||||||||||||
Total Communications | 34,287 | 22,012 | 12,275 | 4,627 | 7,648 | — | 7,648 | ||||||||||||||||
WarnerMedia | |||||||||||||||||||||||
Turner | 3,176 | 2,088 | 1,088 | 69 | 1,019 | (6) | 1,013 | ||||||||||||||||
Home Box Office | 1,781 | 1,694 | 87 | 27 | 60 | — | 60 | ||||||||||||||||
Warner Bros. | 2,411 | 1,973 | 438 | 43 | 395 | (23) | 372 | ||||||||||||||||
Eliminations and other | 146 | (171) | 317 | 32 | 285 | 40 | 325 | ||||||||||||||||
Total WarnerMedia | 7,514 | 5,584 | 1,930 | 171 | 1,759 | 11 | 1,770 | ||||||||||||||||
Latin America | |||||||||||||||||||||||
Vrio | 753 | 675 | 78 | 126 | (48) | 14 | (34) | ||||||||||||||||
Mexico | 643 | 662 | (19) | 124 | (143) | — | (143) | ||||||||||||||||
Total Latin America | 1,396 | 1,337 | 59 | 250 | (191) | 14 | (177) | ||||||||||||||||
Segment Total | 43,197 | 28,933 | 14,264 | 5,048 | 9,216 | $ | 25 | $ | 9,241 | ||||||||||||||
Corporate and Other | |||||||||||||||||||||||
Corporate | 431 | 1,012 | (581) | 61 | (642) | ||||||||||||||||||
Acquisition-related items | — | 38 | (38) | 1,921 | (1,959) | ||||||||||||||||||
Certain significant items | — | 113 | (113) | — | (113) | ||||||||||||||||||
Eliminations and consolidations | (1,288) | (918) | (370) | — | (370) | ||||||||||||||||||
AT&T Inc. | $ | 42,340 | $ | 29,178 | $ | 13,162 | $ | 7,030 | $ | 6,132 | |||||||||||||
Three Months Ended | |||||||||||||||||||||||
Dollars in millions | |||||||||||||||||||||||
Unaudited | |||||||||||||||||||||||
September 30, 2019 | |||||||||||||||||||||||
Revenues | Operations and Support Expenses | EBITDA | Depreciation and Amortization | Operating Income (Loss) | Equity in Net Income (Loss) of Affiliates | Segment Contribution | |||||||||||||||||
Communications | |||||||||||||||||||||||
Mobility | $ | 17,701 | $ | 9,948 | $ | 7,753 | $ | 2,011 | $ | 5,742 | $ | — | $ | 5,742 | |||||||||
Entertainment Group | 11,197 | 8,797 | 2,400 | 1,316 | 1,084 | — | 1,084 | ||||||||||||||||
Business Wireline | 6,503 | 4,022 | 2,481 | 1,271 | 1,210 | — | 1,210 | ||||||||||||||||
Total Communications | 35,401 | 22,767 | 12,634 | 4,598 | 8,036 | — | 8,036 | ||||||||||||||||
WarnerMedia | |||||||||||||||||||||||
Turner | 3,007 | 1,460 | 1,547 | 68 | 1,479 | 10 | 1,489 | ||||||||||||||||
Home Box Office | 1,819 | 1,072 | 747 | 33 | 714 | 10 | 724 | ||||||||||||||||
Warner Bros. | 3,333 | 2,706 | 627 | 39 | 588 | (25) | 563 | ||||||||||||||||
Eliminations and other | 191 | 91 | 100 | 25 | 75 | 20 | 95 | ||||||||||||||||
Total WarnerMedia | 8,350 | 5,329 | 3,021 | 165 | 2,856 | 15 | 2,871 | ||||||||||||||||
Latin America | |||||||||||||||||||||||
Vrio | 1,013 | 851 | 162 | 162 | — | 13 | 13 | ||||||||||||||||
Mexico | 717 | 774 | (57) | 122 | (179) | — | (179) | ||||||||||||||||
Total Latin America | 1,730 | 1,625 | 105 | 284 | (179) | 13 | (166) | ||||||||||||||||
Segment Total | 45,481 | 29,721 | 15,760 | 5,047 | 10,713 | $ | 28 | $ | 10,741 | ||||||||||||||
Corporate and Other | |||||||||||||||||||||||
Corporate | 407 | 703 | (296) | 131 | (427) | ||||||||||||||||||
Acquisition-related items | — | 190 | (190) | 1,771 | (1,961) | ||||||||||||||||||
Certain significant items | — | 39 | (39) | — | (39) | ||||||||||||||||||
Eliminations and consolidations | (1,300) | (915) | (385) | — | (385) | ||||||||||||||||||
AT&T Inc. | $ | 44,588 | $ | 29,738 | $ | 14,850 | $ | 6,949 | $ | 7,901 | |||||||||||||
Nine Months Ended | |||||||||||||||||||||||
Dollars in millions | |||||||||||||||||||||||
Unaudited | |||||||||||||||||||||||
September 30, 2020 | |||||||||||||||||||||||
Revenues | Operations and Support Expenses | EBITDA | Depreciation and Amortization | Operating Income (Loss) | Equity in Net Income (Loss) of Affiliates | Segment Contribution | |||||||||||||||||
Communications | |||||||||||||||||||||||
Mobility | $ | 52,445 | $ | 29,083 | $ | 23,362 | $ | 6,078 | $ | 17,284 | $ | — | $ | 17,284 | |||||||||
Entertainment Group | 30,637 | 23,618 | 7,019 | 3,875 | 3,144 | — | 3,144 | ||||||||||||||||
Business Wireline | 19,046 | 11,563 | 7,483 | 3,948 | 3,535 | — | 3,535 | ||||||||||||||||
Total Communications | 102,128 | 64,264 | 37,864 | 13,901 | 23,963 | — | 23,963 | ||||||||||||||||
WarnerMedia | |||||||||||||||||||||||
Turner | 9,326 | 5,145 | 4,181 | 207 | 3,974 | — | 3,974 | ||||||||||||||||
Home Box Office | 4,905 | 4,236 | 669 | 73 | 596 | 15 | 611 | ||||||||||||||||
Warner Bros. | 8,907 | 7,506 | 1,401 | 124 | 1,277 | (50) | 1,227 | ||||||||||||||||
Eliminations and other | (962) | (882) | (80) | 97 | (177) | 65 | (112) | ||||||||||||||||
Total WarnerMedia | 22,176 | 16,005 | 6,171 | 501 | 5,670 | 30 | 5,700 | ||||||||||||||||
Latin America | |||||||||||||||||||||||
Vrio | 2,392 | 2,119 | 273 | 400 | (127) | 26 | (101) | ||||||||||||||||
Mexico | 1,826 | 1,914 | (88) | 373 | (461) | — | (461) | ||||||||||||||||
Total Latin America | 4,218 | 4,033 | 185 | 773 | (588) | 26 | (562) | ||||||||||||||||
Segment Total | 128,522 | 84,302 | 44,220 | 15,175 | 29,045 | $ | 56 | $ | 29,101 | ||||||||||||||
Corporate and Other | |||||||||||||||||||||||
Corporate | 1,256 | 2,819 | (1,563) | 241 | (1,804) | ||||||||||||||||||
Acquisition-related items | — | 431 | (431) | 6,122 | (6,553) | ||||||||||||||||||
Certain significant items | — | 2,539 | (2,539) | — | (2,539) | ||||||||||||||||||
Eliminations and consolidations | (3,709) | (2,709) | (1,000) | (1) | (999) | ||||||||||||||||||
AT&T Inc. | $ | 126,069 | $ | 87,382 | $ | 38,687 | $ | 21,537 | $ | 17,150 | |||||||||||||
Nine Months Ended | |||||||||||||||||||||||
Dollars in millions | |||||||||||||||||||||||
Unaudited | |||||||||||||||||||||||
September 30, 2019 | |||||||||||||||||||||||
Revenues | Operations and Support Expenses | EBITDA | Depreciation and Amortization | Operating Income (Loss) | Equity in Net Income (Loss) of Affiliates | Segment Contribution | |||||||||||||||||
Communications | |||||||||||||||||||||||
Mobility | $ | 52,356 | $ | 29,511 | $ | 22,845 | $ | 6,027 | $ | 16,818 | $ | — | $ | 16,818 | |||||||||
Entertainment Group | 33,893 | 25,839 | 8,054 | 3,978 | 4,076 | — | 4,076 | ||||||||||||||||
Business Wireline | 19,588 | 12,029 | 7,559 | 3,735 | 3,824 | — | 3,824 | ||||||||||||||||
Total Communications | 105,837 | 67,379 | 38,458 | 13,740 | 24,718 | — | 24,718 | ||||||||||||||||
WarnerMedia | |||||||||||||||||||||||
Turner | 9,860 | 5,813 | 4,047 | 167 | 3,880 | 46 | 3,926 | ||||||||||||||||
Home Box Office | 5,045 | 3,124 | 1,921 | 67 | 1,854 | 40 | 1,894 | ||||||||||||||||
Warner Bros. | 10,240 | 8,543 | 1,697 | 122 | 1,575 | (19) | 1,556 | ||||||||||||||||
Eliminations and other | 845 | 438 | 407 | 69 | 338 | 70 | 408 | ||||||||||||||||
Total WarnerMedia | 25,990 | 17,918 | 8,072 | 425 | 7,647 | 137 | 7,784 | ||||||||||||||||
Latin America | |||||||||||||||||||||||
Vrio | 3,112 | 2,598 | 514 | 496 | 18 | 25 | 43 | ||||||||||||||||
Mexico | 2,093 | 2,312 | (219) | 372 | (591) | — | (591) | ||||||||||||||||
Total Latin America | 5,205 | 4,910 | 295 | 868 | (573) | 25 | (548) | ||||||||||||||||
Segment Total | 137,032 | 90,207 | 46,825 | 15,033 | 31,792 | $ | 162 | $ | 31,954 | ||||||||||||||
Corporate and Other | |||||||||||||||||||||||
Corporate | 1,290 | 2,129 | (839) | 505 | (1,344) | ||||||||||||||||||
Acquisition-related items | (72) | 579 | (651) | 5,719 | (6,370) | ||||||||||||||||||
Certain significant items | — | 381 | (381) | — | (381) | ||||||||||||||||||
Eliminations and consolidations | (3,878) | (2,814) | (1,064) | (1) | (1,063) | ||||||||||||||||||
AT&T Inc. | $ | 134,372 | $ | 90,482 | $ | 43,890 | $ | 21,256 | $ | 22,634 | |||||||||||||