Document_And_Entity_Informatio
Document And Entity Information | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2014 | Apr. 30, 2014 |
Document And Entity Information [Abstract] | ' | ' |
Document Type | '10-Q | ' |
Amendment Flag | 'false | ' |
Document Fiscal Year Focus | '2014 | ' |
Document Fiscal Period Focus | 'FY | ' |
Document Period End Date | 31-Mar-14 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Central Index Key | '0000732717 | ' |
Entity Filer Category | 'Large Accelerated Filer | ' |
Entity Registrant Name | 'AT&T Inc. | ' |
Entity Common Stock, Shares Outstanding | ' | 5,190 |
Consolidated_Statements_Of_Inc
Consolidated Statements Of Income (USD $) | 3 Months Ended | |
In Millions, except Per Share data, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Consolidated Statements Of Income (Unaudited) | ' | ' |
Operating Revenues | $32,476 | $31,356 |
Operating Expenses | ' | ' |
Cost of services and sales (exclusive of depreciation and amortization shown separately below) | 13,321 | 12,554 |
Selling, general and administrative | 8,260 | 8,333 |
Depreciation and amortization | 4,617 | 4,529 |
Total operating expenses | 26,198 | 25,416 |
Operating Income | 6,278 | 5,940 |
Other Income (Expense) | ' | ' |
Interest expense | -860 | -827 |
Equity in net income (loss) of affiliates | 88 | 185 |
Other income (expense) - net | 145 | 32 |
Total other income (expense) | -627 | -610 |
Income Before Income Taxes | 5,651 | 5,330 |
Income tax expense | 1,917 | 1,557 |
Net Income | 3,734 | 3,773 |
Less: Net Income Attributable to Noncontrolling Interest | -82 | -73 |
Net Income Attributable to AT&T | $3,652 | $3,700 |
Basic Earnings Per Share Attributable to AT&T | $0.70 | $0.67 |
Diluted Earnings Per Share Attributable to AT&T | $0.70 | $0.67 |
Weighted Average Number of Common Shares Outstanding - Basic (in millions) | 5,222 | 5,513 |
Weighted Average Number of Common Shares Outstanding - with Dilution (in millions) | 5,238 | 5,530 |
Dividends Declared Per Common Share | $0.46 | $0.45 |
Consolidated_Statements_Of_Com
Consolidated Statements Of Comprehensive Income (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Consolidated Statements of Comprehensive Income [Abstract] | ' | ' |
Net income | $3,734 | $3,773 |
Foreign Currency: | ' | ' |
Foreign currency translation adjustment (includes $0 and $0 attributable to noncontrolling interest), net of taxes of $(9) and $62 | -20 | 121 |
Reclassification adjustment included in net income, net of taxes of $14 and $0 | 25 | 0 |
Available-for-sale securities: | ' | ' |
Net unrealized gains, net of taxes of $10 and $40 | 16 | 75 |
Reclassification adjustment included in net income, net of taxes of $(7) and $(4) | -11 | -7 |
Cash flow hedges: | ' | ' |
Net unrealized gains, net of taxes of $3 and $49 | 6 | 90 |
Reclassification adjustment included in net income, net of taxes of $4 and $4 | 7 | 7 |
Defined benefit postretirement plans: | ' | ' |
Reclassification adjustment included in net income, net of taxes of $2 and $0 | 3 | 0 |
Amortization of net prior service credit included in net income, net of taxes of $(147) and $(109) | -240 | -178 |
Other comprehensive income (loss) | -214 | 108 |
Total comprehensive income | 3,520 | 3,881 |
Less: Total comprehensive income attributable to noncontrolling interest | -82 | -73 |
Total Comprehensive Income Attributable to AT&T | $3,438 | $3,808 |
Recovered_Sheet1
Consolidated Statements of Comprehensive Income (Parenthetical) (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Consolidated Statements of Comprehensive Income [Abstract] | ' | ' |
Foreign currency translation adjustments, attributable to noncontrolling interest, net of taxes | $0 | $0 |
Foreign currency translation adjustments, tax effect | -9 | 62 |
Foreign currency translation adjustment reclassification - tax effect | 14 | 0 |
Net unrealized gains (losses) on available-for-sale securities - tax effect | 10 | 40 |
Reclassification adjustment included in net income on available-for-sale securities - tax effect | -7 | -4 |
Net unrealized gains (losses) on cash flow hedges - tax effect | 3 | 49 |
Reclassification adjustment included in net income on cash flow hedges - tax effect | 4 | 4 |
Reclassification adjustment in net income on actuarial loss from equity method investees - tax effect | 2 | 0 |
Amortization of net prior service credit included in net income, tax effect | ($147) | ($109) |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Current Assets | ' | ' |
Cash and cash equivalents | $3,611 | $3,339 |
Accounts receivable - net of allowances for doubtful accounts of $483 and $483 | 13,120 | 12,918 |
Prepaid expenses | 1,000 | 960 |
Deferred income taxes | 1,171 | 1,199 |
Other current assets | 5,187 | 4,780 |
Total current assets | 24,089 | 23,196 |
Property, plant and equipment | 278,862 | 274,798 |
Less: accumulated depreciation and amortization | -166,053 | -163,830 |
Property, Plant and Equipment - Net | 112,809 | 110,968 |
Goodwill | 69,720 | 69,273 |
Licenses | 59,584 | 56,433 |
Other Intangible Assets - Net | 6,515 | 5,779 |
Investments in Equity Affiliates | 3,613 | 3,860 |
Other Assets | 9,010 | 8,278 |
Total Assets | 285,340 | 277,787 |
Current Liabilities | ' | ' |
Debt maturing within one year | 8,301 | 5,498 |
Accounts payable and accrued liabilities | 22,234 | 21,107 |
Advanced billing and customer deposits | 4,121 | 4,212 |
Accrued taxes | 2,784 | 1,774 |
Dividends payable | 2,390 | 2,404 |
Total current liabilities | 39,830 | 34,995 |
Long-Term Debt | 71,575 | 69,290 |
Deferred Credits and Other Noncurrent Liabilities | ' | ' |
Deferred income taxes | 36,448 | 36,308 |
Postemployment benefit obligation | 30,029 | 29,946 |
Other noncurrent liabilities | 16,089 | 15,766 |
Total deferred credits and other noncurrent liabilities | 82,566 | 82,020 |
Stockholders' Equity | ' | ' |
Common stock ($1 par value, 14,000,000,000 authorized at March 31, 2014 and December 31, 2013: issued 6,495,231,088 at March 31, 2014 and December 31, 2013) | 6,495 | 6,495 |
Additional paid-in capital | 91,027 | 91,091 |
Retained earnings | 32,402 | 31,141 |
Treasury stock (1,300,637,055 at March 31, 2014 and 1,268,914,913 at December 31, 2013, at cost) | -46,684 | -45,619 |
Accumulated other comprehensive income | 7,666 | 7,880 |
Noncontrolling interest | 463 | 494 |
Total stockholders' equity | 91,369 | 91,482 |
Total Liabilities and Stockholders' Equity | $285,340 | $277,787 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Millions, except Share data, unless otherwise specified | ||
Consolidated Balance Sheets (Unaudited) | ' | ' |
Allowances for doubtful accounts | $483 | $483 |
Common stock, par value | $1 | $1 |
Common stock, authorized | 14,000,000,000 | 14,000,000,000 |
Common stock, issued | 6,495,231,088 | 6,495,231,088 |
Treasury stock, held | 1,300,637,055 | 1,268,914,913 |
Consolidated_Statements_Of_Cas
Consolidated Statements Of Cash Flows (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Operating Activities | ' | ' |
Net income | $3,734 | $3,773 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' |
Depreciation and amortization | 4,617 | 4,529 |
Undistributed earnings from investments in equity affiliates | 17 | -185 |
Provision for uncollectible accounts | 241 | 262 |
Deferred income tax expense | 578 | 433 |
Net (gain) loss from sale of investments, net of impairments | -122 | -11 |
Changes in operating assets and liabilities: | ' | ' |
Accounts receivable | -498 | 295 |
Other current assets | -340 | 864 |
Accounts payable and accrued liabilities | 1,025 | -1,675 |
Retirement benefit funding | -140 | 0 |
Other - net | -313 | -86 |
Total adjustments | 5,065 | 4,426 |
Net Cash Provided by Operating Activities | 8,799 | 8,199 |
Investing Activities | ' | ' |
Capital expenditures | -5,716 | -4,252 |
Interest during construction | -55 | -66 |
Acquisitions, net of cash acquired | -662 | -1,045 |
Dispositions | 351 | 5 |
Other | 0 | 1 |
Net Cash Used in Investing Activities | -6,082 | -5,357 |
Financing Activities | ' | ' |
Net change in short-term borrowings with original maturities of three months or less | -17 | 274 |
Issuance of other short-term borrowings | 0 | 1,474 |
Issuance of long-term debt | 2,987 | 4,875 |
Repayment of long-term debt | -1,867 | -1,791 |
Purchase of treasury stock | -1,237 | -5,911 |
Issuance of treasury stock | 13 | 56 |
Dividends paid | -2,398 | -2,502 |
Other | 74 | -310 |
Net Cash Used in Financing Activities | -2,445 | -3,835 |
Net increase (decrease) in cash and cash equivalents | 272 | -993 |
Cash and cash equivalents beginning of year | 3,339 | 4,868 |
Cash and Cash Equivalents End of Period | 3,611 | 3,875 |
Cash paid (received) during the three months ended March 31 for: | ' | ' |
Interest | 976 | 1,080 |
Income taxes, net of refunds | ($40) | ($1,114) |
Consolidated_Statement_Of_Chan
Consolidated Statement Of Changes In Stockholders' Equity (USD $) | Total | Common Stock [Member] | Additional Paid-In Capital [Member] | Retained Earnings [Member] | Treasury Stock [Member] | Accumulated Other Comprehensive Income Attributable to AT&T, net of tax [Member] | Noncontrolling Interest [Member] |
In Millions | |||||||
Balance at beginning of year at Dec. 31, 2013 | $91,482 | $6,495 | $91,091 | $31,141 | ($45,619) | $7,880 | $494 |
Balance at beginning of year (in shares) at Dec. 31, 2013 | ' | 6,495 | ' | ' | -1,269 | ' | ' |
Issuance of stock | ' | 0 | ' | ' | ' | ' | ' |
Issuance of stock (in shares) | ' | 0 | ' | ' | ' | ' | ' |
Repurchase of common stock | -1,237 | ' | ' | ' | -1,237 | ' | ' |
Repurchase of common stock (in shares) | -37 | ' | ' | ' | -37 | ' | ' |
Issuance of treasury stock | ' | ' | 4 | ' | 172 | ' | ' |
Issuance of treasury stock, (in shares) | ' | ' | ' | ' | 5 | ' | ' |
Share-based payments | ' | ' | -68 | ' | ' | ' | ' |
Net income attributable to AT&T ($0.70 per diluted share) | 3,652 | ' | ' | 3,652 | ' | ' | ' |
Dividends to stockholders ($0.46 per share) | ' | ' | ' | -2,391 | ' | ' | ' |
Other comprehensive income (loss) attributable to AT&T | -214 | ' | ' | ' | ' | -214 | ' |
Net income attributable to noncontrolling interest | 82 | ' | ' | ' | ' | ' | 82 |
Distributions | ' | ' | ' | ' | ' | ' | -113 |
Translation adjustments attributable to noncontrolling interest, net of taxes | 0 | ' | ' | ' | ' | ' | ' |
Balance at end of period at Mar. 31, 2014 | $91,369 | $6,495 | $91,027 | $32,402 | ($46,684) | $7,666 | $463 |
Balance at end of period (in shares) at Mar. 31, 2014 | ' | 6,495 | ' | ' | -1,301 | ' | ' |
Consolidated_Statement_Of_Chan1
Consolidated Statement Of Changes In Stockholders' Equity (Parenthetical) (USD $) | 3 Months Ended | |
Mar. 31, 2014 | Mar. 31, 2013 | |
Consolidated Statements Of Changes In Stockholders' Equity (Unaudited) | ' | ' |
Net income attributable to AT&T, per diluted share | $0.70 | $0.67 |
Dividends to stockholders, per share | $0.46 | $0.45 |
Preparation_Of_Interim_Financi
Preparation Of Interim Financial Statements | 3 Months Ended |
Mar. 31, 2014 | |
Preparation Of Interim Financial Statements Disclosure [Abstract] | ' |
Preparation Of Interim Financial Statements | ' |
NOTE 1. PREPARATION OF INTERIM FINANCIAL STATEMENTS | |
Basis of Presentation Throughout this document, AT&T Inc. is referred to as “AT&T,” “we” or the “Company.” We believe that these consolidated financial statements include all adjustments, consisting only of normal recurring accruals, that are necessary to present fairly the results for the presented interim periods. The results for the interim periods are not necessarily indicative of those for the full year. You should read this document in conjunction with the consolidated financial statements and accompanying notes included in our Annual Report on Form 10-K for the year ended December 31, 2013. On March 13, 2014, we closed our acquisition of Leap Wireless International, Inc. (Leap) (see Note 7), and we incorporated them into our wireless operations following the date of acquisition. | |
The consolidated financial statements include the accounts of the Company and our majority-owned subsidiaries and affiliates. Our subsidiaries and affiliates operate in the communications services industry both domestically and internationally, providing wireless communications services, traditional wireline voice services, data/broadband and Internet services, video services, telecommunications equipment, managed networking and wholesale services. | |
All significant intercompany transactions are eliminated in the consolidation process. Investments in partnerships and less than majority-owned subsidiaries where we have significant influence are accounted for under the equity method. Earnings from certain foreign equity investments accounted for using the equity method are included for periods ended within up to one month of our period end. We also record our proportionate share of our equity method investees' other comprehensive income (OCI) items, including actuarial gains and losses on pension and other postretirement benefit obligations. | |
The preparation of financial statements in conformity with U.S. generally accepted accounting principles (GAAP) requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes, including estimates of probable losses and expenses. Actual results could differ from those estimates. Certain amounts have been reclassified to conform to the current period's presentation. | |
Equipment Installment Plan Under our AT&T NextSM (AT&T Next) program, we offer our customers the option to purchase certain devices in installments over a period of up to 26 months. Additionally, after a specified period of time they also have the right to trade in the original device for a new device and have the remaining unpaid balance satisfied. For customers that elect these trade-in programs, we recognize revenue at the point of sale for the entire amount of the customer receivable, net of the fair value of the trade-in right guarantee and imputed interest. As of March 31, 2014, total equipment installment plan receivables of $2,447 were included on our consolidated balance sheets. | |
Stock Repurchase Program During the first quarter of 2014, we had repurchased approximately 37 million shares totaling $1,237 under a repurchase authorization that was approved by our Board of Directors in March 2013. In March 2014, our Board of Directors approved another authorization to repurchase 300 million shares of our common stock. At March 31, 2014, we had 425 million shares remaining under these authorizations. The repurchase authorizations have no expiration date, and we expect to make future repurchases opportunistically. | |
Earnings_Per_Share
Earnings Per Share | 3 Months Ended | |||||
Mar. 31, 2014 | ||||||
Earnings Per Share | ' | |||||
Earnings Per Share | ' | |||||
NOTE 2. EARNINGS PER SHARE | ||||||
A reconciliation of the numerators and denominators of basic earnings per share and diluted earnings per share for the three months ended March 31, 2014 and 2013, is shown in the table below: | ||||||
Three months ended | ||||||
March 31, | ||||||
2014 | 2013 | |||||
Numerators | ||||||
Numerator for basic earnings per share: | ||||||
Net income | $ | 3,734 | $ | 3,773 | ||
Less: Net income attributable to noncontrolling interest | -82 | -73 | ||||
Net income attributable to AT&T | 3,652 | 3,700 | ||||
Dilutive potential common shares: | ||||||
Share-based payment | 4 | 4 | ||||
Numerator for diluted earnings per share | $ | 3,656 | $ | 3,704 | ||
Denominators (000,000) | ||||||
Denominator for basic earnings per share: | ||||||
Weighted-average number of common shares outstanding | 5,222 | 5,513 | ||||
Dilutive potential common shares: | ||||||
Share-based payment (in shares) | 16 | 17 | ||||
Denominator for diluted earnings per share | 5,238 | 5,530 | ||||
Basic earnings per share attributable to AT&T | $ | 0.7 | $ | 0.67 | ||
Diluted earnings per share attributable to AT&T | $ | 0.7 | $ | 0.67 | ||
At March 31, 2014 and 2013, we had issued and outstanding options to purchase approximately 12 million and 15 million shares of AT&T common stock. For the quarter ended March 31, 2014 and 2013, the exercise prices of 3 million and 4 million shares were above the market price of AT&T stock for the respective periods. Accordingly, we did not include these amounts in determining the dilutive potential common shares. |
Accumulated_Other_Comprehensiv
Accumulated Other Comprehensive Income | 3 Months Ended | |||||||||||||||
Mar. 31, 2014 | ||||||||||||||||
Accumulated Other Comprehensive Income | ' | |||||||||||||||
Accumulated Other Comprehensive Income | ' | |||||||||||||||
NOTE 3. OTHER COMPREHENSIVE INCOME | ||||||||||||||||
Changes in the balances of each component included in accumulated other comprehensive income (accumulated OCI) for the three months ended March 31, 2014 and 2013, are presented below. All amounts are net of tax and exclude noncontrolling interest. | ||||||||||||||||
At March 31, 2014 and for the period ended: | ||||||||||||||||
Foreign Currency Translation Adjustment | Net Unrealized Gains (Losses) on Available-for-Sale Securities | Net Unrealized Gains (Losses) on Cash Flow Hedges | Defined Benefit Postretirement Plans | Accumulated Other Comprehensive Income | ||||||||||||
Balance as of December 31, 2013 | $ | -367 | $ | 450 | $ | 445 | $ | 7,352 | $ | 7,880 | ||||||
Other comprehensive income (loss) before reclassifications | -20 | 16 | 6 | - | 2 | |||||||||||
Amounts reclassified from accumulated OCI | 251 | (11)2 | 73 | (237)4 | -216 | |||||||||||
Net other comprehensive income (loss) | 5 | 5 | 13 | -237 | -214 | |||||||||||
Balance as of March 31, 2014 | $ | -362 | $ | 455 | $ | 458 | $ | 7,115 | $ | 7,666 | ||||||
At March 31, 2013 and for the period ended: | ||||||||||||||||
Foreign Currency Translation Adjustment | Net Unrealized Gains (Losses) on Available-for-Sale Securities | Net Unrealized Gains (Losses) on Cash Flow Hedges | Defined Benefit Postretirement Plans | Accumulated Other Comprehensive Income | ||||||||||||
Balance as of December 31, 2012 | $ | -284 | $ | 272 | $ | -110 | $ | 5,358 | $ | 5,236 | ||||||
Other comprehensive income before reclassifications | 121 | 75 | 90 | - | 286 | |||||||||||
Amounts reclassified from accumulated OCI | -1 | (7)2 | 73 | (178)4 | -178 | |||||||||||
Net other comprehensive income (loss) | 121 | 68 | 97 | -178 | 108 | |||||||||||
Balance as of March 31, 2013 | $ | -163 | $ | 340 | $ | -13 | $ | 5,180 | $ | 5,344 | ||||||
1 | Pre-tax translation loss reclassifications are included in Other income (expense) - net in the consolidated statements of income. | |||||||||||||||
2 | Realized gains (losses) are included in Other income (expense) - net in the consolidated statements of income. | |||||||||||||||
3 | Realized (gains) losses are included in interest expense in the consolidated statements of income. | |||||||||||||||
See Note 6 for additional information. | ||||||||||||||||
4 | The amortization of prior service credits associated with postretirement benefits, net of amounts capitalized as part of construction | |||||||||||||||
labor, are included in Cost of services and sales and Selling, general and administrative in the consolidated statements of income | ||||||||||||||||
(see Note 5). Actuarial loss reclassifications related to our equity method investees are included in Other income (expense) - net | ||||||||||||||||
in the consolidated statements of income. |
Segment_Information
Segment Information | 3 Months Ended | |||||||||||
Mar. 31, 2014 | ||||||||||||
Segment Information | ' | |||||||||||
Segment Information | ' | |||||||||||
NOTE 4. SEGMENT INFORMATION | ||||||||||||
Our segments are strategic business units that offer different products and services over various technology platforms and are managed accordingly. We analyze our operating segments based on segment income before income taxes. We make our capital allocation decisions based on our strategic direction of the business, needs of the network (wireless or wireline) providing services and demands to provide emerging services to our customers. Actuarial gains and losses from pension and other postretirement benefits, interest expense and other income (expense) – net, are managed only on a total company basis and are, accordingly, reflected only in consolidated results. Therefore, these items are not included in each segment's reportable results. The customers and long-lived assets of our reportable segments are predominantly in the United States. We have two reportable segments: (1) Wireless and (2) Wireline. | ||||||||||||
The Wireless segment uses our nationwide network to provide consumer and business customers with wireless data and voice communications services. This segment includes our portion of the results from our mobile payment joint venture marketed as the Isis Mobile WalletTM, which is accounted for as an equity investment. | ||||||||||||
The Wireline segment uses our regional, national and global network to provide consumer and business customers with data and voice communications services, AT&T U-verse® high speed Internet, video and VoIP services and managed networking to business customers. | ||||||||||||
The Corporate and Other column includes unallocated corporate expenses, which includes costs to support corporate-driven activities and operations, impacts of corporate-wide decisions for which the individual operating segments are not being evaluated, including interest costs and expected return on plan assets for our pension and postretirement benefit plans as well as our actuarial gains and losses on our pension and postretirement plan valuations. Results from equity method investments in América Móvil, S.A. de C.V. and YP Holdings LLC are also excluded from our segment results as those results are nonoperational and not considered in our assessment of segment performance. We have revised our prior-period presentation to conform to our current reporting. | ||||||||||||
In the following tables, we show how our segment results are reconciled to our consolidated results reported. | ||||||||||||
For the three months ended March 31, 2014: | ||||||||||||
Wireless | Wireline | Corporate and Other | Consolidated Results | |||||||||
Service | $ | 15,387 | $ | 14,389 | $ | - | $ | 29,776 | ||||
Equipment | 2,479 | 212 | 9 | 2,700 | ||||||||
Total segment operating revenues | 17,866 | 14,601 | 9 | 32,476 | ||||||||
Operations and support expenses | 10,882 | 10,457 | 242 | 21,581 | ||||||||
Depreciation and amortization expenses | 1,931 | 2,684 | 2 | 4,617 | ||||||||
Total segment operating expenses | 12,813 | 13,141 | 244 | 26,198 | ||||||||
Segment operating income (loss) | 5,053 | 1,460 | -235 | 6,278 | ||||||||
Interest expense | - | - | 860 | 860 | ||||||||
Equity in net income (loss) of affiliates | -20 | 1 | 107 | 88 | ||||||||
Other income (expense) – net | - | - | 145 | 145 | ||||||||
Segment income (loss) before income taxes | $ | 5,033 | $ | 1,461 | $ | -843 | $ | 5,651 | ||||
For the three months ended March 31, 2013: | ||||||||||||
Wireless | Wireline | Corporate and Other | Consolidated Results | |||||||||
Service | $ | 15,062 | $ | 14,381 | $ | - | $ | 29,443 | ||||
Equipment | 1,629 | 274 | 10 | 1,913 | ||||||||
Total segment operating revenues | 16,691 | 14,655 | 10 | 31,356 | ||||||||
Operations and support expenses | 10,180 | 10,335 | 372 | 20,887 | ||||||||
Depreciation and amortization expenses | 1,835 | 2,688 | 6 | 4,529 | ||||||||
Total segment operating expenses | 12,015 | 13,023 | 378 | 25,416 | ||||||||
Segment operating income (loss) | 4,676 | 1,632 | -368 | 5,940 | ||||||||
Interest expense | - | - | 827 | 827 | ||||||||
Equity in net income (loss) of affiliates | -18 | 1 | 202 | 185 | ||||||||
Other income (expense) – net | - | - | 32 | 32 | ||||||||
Segment income (loss) before income taxes | $ | 4,658 | $ | 1,633 | $ | -961 | $ | 5,330 |
Pension_And_Postretirement_Ben
Pension And Postretirement Benefits | 3 Months Ended | |||||
Mar. 31, 2014 | ||||||
Pension And Postretirement Benefits | ' | |||||
Pension And Postretirement Benefits | ' | |||||
NOTE 5. PENSION AND POSTRETIREMENT BENEFITS | ||||||
Substantially all of our employees are covered by one of our noncontributory pension plans. We also provide certain medical, dental, life insurance, and death benefits to certain retired employees under various plans and accrue actuarially determined postretirement benefit costs as active employees earn these benefits. Our objective in funding these plans, in combination with the standards of the Employee Retirement Income Security Act of 1974, as amended (ERISA), is to accumulate assets sufficient to meet the plans' obligations to provide benefits to employees upon their retirement. | ||||||
On September 9, 2013, we made a voluntary contribution of a preferred equity interest in AT&T Mobility II LLC, the primary holding company for our wireless business, to the trust used to pay pension benefits under our qualified pension plans. The preferred equity interest had a value of $9,222 at March 31, 2014. The trust is entitled to receive cumulative cash distributions of $560 per annum, which will be distributed quarterly in equal amounts and will be accounted for as contributions. We distributed $140 to the trust during the three months ended March 31, 2014. So long as we make the distributions, we will have no limitations on our ability to declare a dividend, or repurchase shares. This preferred equity interest is a plan asset under ERISA and is recognized as such in the plan's separate financial statements. However, because the preferred equity interest is not unconditionally transferable to an unrelated party, it is not reflected in plan assets in our consolidated financial statements and instead has been eliminated in consolidation. | ||||||
On September 9, 2013, the Department of Labor (DOL) published a proposed exemption that authorized retroactive approval of this voluntary contribution. The proposal was open for public comment and we are currently awaiting a final decision by the DOL. Our retirement benefit plans, including required contributions, are subject to the provisions of ERISA. | ||||||
We recognize actuarial gains and losses on pension and postretirement plan assets in our operating results at our annual measurement date of December 31, unless earlier remeasurements are required. The following table details pension and postretirement benefit costs included in operating expenses in the accompanying consolidated statements of income, expense credits are denoted with parentheses. A portion of these expenses is capitalized as part of internal construction projects, providing a small reduction in the net expense recorded. | ||||||
Three months ended | ||||||
March 31, | ||||||
2014 | 2013 | |||||
Pension cost: | ||||||
Service cost – benefits earned during the period | $ | 282 | $ | 330 | ||
Interest cost on projected benefit obligation | 661 | 607 | ||||
Expected return on assets | -849 | -828 | ||||
Amortization of prior service credit | -24 | -23 | ||||
Net pension cost | $ | 70 | $ | 86 | ||
Postretirement cost: | ||||||
Service cost – benefits earned during the period | $ | 58 | $ | 95 | ||
Interest cost on accumulated postretirement benefit obligation | 365 | 390 | ||||
Expected return on assets | -164 | -178 | ||||
Amortization of prior service credit | -362 | -263 | ||||
Net postretirement (credit) cost | $ | -103 | $ | 44 | ||
Combined net pension and postretirement (credit) cost | $ | -33 | $ | 130 | ||
Our combined net pension and postretirement cost decreased $163 in the first quarter of 2014. The decrease reflects higher amortization of prior service credits due to plan changes, including changes to future costs for continued retiree healthcare coverage. The decrease also reflects increasing corporate bond rates, which contributed to lower service cost and higher interest costs. | ||||||
Due in part to our 2013 enhanced retirement offer and projected distribution levels, we expect that lump sum distributions from the plan during 2014 could exceed service and interest costs, resulting in settlement accounting for a portion of our pension plan. This would result in remeasurement of the plans assets and obligations, with remeasurement for each interim period thereafter. | ||||||
We also provide senior- and middle-management employees with nonqualified, unfunded supplemental retirement and savings plans. Net supplemental retirement pension benefits cost, which is not included in the table above, was $29 in the first quarter of 2014, of which $27 was interest cost, and $27 for the first quarter of 2013, of which $25 was interest cost. | ||||||
Fair_Value_Measurements_And_Di
Fair Value Measurements And Disclosure | 3 Months Ended | ||||||||||||
Mar. 31, 2014 | |||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||
Fair Value Measurements And Disclosure | ' | ||||||||||||
NOTE 6. FAIR VALUE MEASUREMENTS AND DISCLOSURE | |||||||||||||
The Fair Value Measurement and Disclosure framework provides a three-tiered fair value hierarchy that gives highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy are described below: | |||||||||||||
Level 1 Inputs to the valuation methodology are unadjusted quoted prices for identical assets or liabilities in active markets that we have the ability to access. | |||||||||||||
Level 2 Inputs to the valuation methodology include: | |||||||||||||
Quoted prices for similar assets and liabilities in active markets. | |||||||||||||
Quoted prices for identical or similar assets or liabilities in inactive markets. | |||||||||||||
Inputs other than quoted market prices that are observable for the asset or liability. | |||||||||||||
Inputs that are derived principally from or corroborated by observable market data by correlation or other means. | |||||||||||||
Level 3 Inputs to the valuation methodology are unobservable and significant to the fair value measurement. | |||||||||||||
Fair value is often based on developed models in which there are few, if any, external observations. | |||||||||||||
The fair value measurements level of an asset or liability within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. Valuation techniques used should maximize the use of observable inputs and minimize the use of unobservable inputs. | |||||||||||||
The valuation methodologies described above may produce a fair value calculation that may not be indicative of future net realizable value or reflective of future fair values. We believe our valuation methods are appropriate and consistent with other market participants. The use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different fair value measurement at the reporting date. There have been no changes in the methodologies used since December 31, 2013. | |||||||||||||
Long-Term Debt and Other Financial Instruments | |||||||||||||
The carrying amounts and estimated fair values of our long-term debt, including current maturities and other financial instruments, are summarized as follows: | |||||||||||||
31-Mar-14 | 31-Dec-13 | ||||||||||||
Carrying | Fair | Carrying | Fair | ||||||||||
Amount | Value | Amount | Value | ||||||||||
Notes and debentures | $ | 79,552 | $ | 85,698 | $ | 74,484 | $ | 79,309 | |||||
Commercial paper | - | - | 20 | 20 | |||||||||
Bank borrowings | 4 | 4 | 1 | 1 | |||||||||
Investment securities | 2,609 | 2,609 | 2,450 | 2,450 | |||||||||
The carrying value of debt with an original maturity of less than one year approximates market value. The fair value measurements used for notes and debentures are considered Level 2 and are determined using various methods, including quoted prices for identical or similar securities in both active and inactive markets. | |||||||||||||
Investment Securities | |||||||||||||
Our investment securities include equities, fixed income bonds and other securities. A substantial portion of the fair values of our available-for-sale securities was estimated based on quoted market prices. Investments in securities not traded on a national securities exchange are valued using pricing models, quoted prices of securities with similar characteristics or discounted cash flows. Realized gains and losses on securities are included in “Other income (expense) – net” in the consolidated statements of income using the specific identification method. Unrealized gains and losses, net of tax, on available-for-sale securities are recorded in accumulated OCI. Unrealized losses that are considered other than temporary are recorded in “Other income (expense) – net” with the corresponding reduction to the carrying basis of the investment. Fixed income investments of $116 have maturities of less than one year, $515 within one to three years, $65 within three to five years, and $251 for five or more years. | |||||||||||||
Our short-term investments (including money market securities) and customer deposits are recorded at amortized cost, and the respective carrying amounts approximate fair values. Our investment securities are recorded in “Other Assets” on the consolidated balance sheets. | |||||||||||||
Following is the fair value leveling for available-for-sale securities and derivatives as of March 31, 2014 and December 31, 2013: | |||||||||||||
31-Mar-14 | |||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||
Available-for-Sale Securities | |||||||||||||
Domestic equities | $ | 1,055 | $ | - | $ | - | $ | 1,055 | |||||
International equities | 543 | - | - | 543 | |||||||||
Fixed income bonds | - | 947 | - | 947 | |||||||||
Asset Derivatives1 | |||||||||||||
Interest rate swaps | - | 176 | - | 176 | |||||||||
Cross-currency swaps | - | 2,020 | - | 2,020 | |||||||||
Liability Derivatives1 | |||||||||||||
Interest rate swaps | - | -8 | - | -8 | |||||||||
Cross-currency swaps | - | -534 | - | -534 | |||||||||
31-Dec-13 | |||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||
Available-for-Sale Securities | |||||||||||||
Domestic equities | $ | 1,049 | $ | - | $ | - | $ | 1,049 | |||||
International equities | 563 | - | - | 563 | |||||||||
Fixed income bonds | - | 759 | - | 759 | |||||||||
Asset Derivatives1 | |||||||||||||
Interest rate swaps | - | 191 | - | 191 | |||||||||
Cross-currency swaps | - | 1,951 | - | 1,951 | |||||||||
Liability Derivatives1 | |||||||||||||
Interest rate swaps | - | -7 | - | -7 | |||||||||
Cross-currency swaps | - | -519 | - | -519 | |||||||||
1 | Derivatives designated as hedging instruments are reflected as Other assets, Other noncurrent liabilities and, for a portion of interest | ||||||||||||
rate swaps, Other current assets. | |||||||||||||
Derivative Financial Instruments | |||||||||||||
We employ derivatives to manage certain market risks, primarily interest rate risk and foreign currency exchange risk. This includes the use of interest rate swaps, interest rate locks, foreign exchange forward contracts and combined interest rate foreign exchange contracts (cross-currency swaps). We do not use derivatives for trading or speculative purposes. We record derivatives on our consolidated balance sheets at fair value that is derived from observable market data, including yield curves and foreign exchange rates (all of our derivatives are Level 2). Cash flows associated with derivative instruments are presented in the same category on the consolidated statements of cash flows as the item being hedged. | |||||||||||||
The majority of our derivatives are designated either as a hedge of the fair value of a recognized asset or liability or of an unrecognized firm commitment (fair value hedge), or as a hedge of a forecasted transaction or of the variability of cash flows to be received or paid related to a recognized asset or liability (cash flow hedge). | |||||||||||||
Fair Value Hedging We designate our fixed-to-floating interest rate swaps as fair value hedges. The purpose of these swaps is to manage interest rate risk by managing our mix of fixed-rate and floating-rate debt. These swaps involve the receipt of fixed-rate amounts for floating interest rate payments over the life of the swaps without exchange of the underlying principal amount. Accrued and realized gains or losses from interest rate swaps impact interest expense in the consolidated statements of income. Unrealized gains on interest rate swaps are recorded at fair market value as assets, and unrealized losses on interest rate swaps are recorded at fair market value as liabilities. Changes in the fair values of the interest rate swaps are exactly offset by changes in the fair value of the underlying debt. Gains or losses realized upon early termination of our fair value hedges are recognized in interest expense. In the three months ended March 31, 2014 and March 31, 2013, no ineffectiveness was measured on interest rate swaps designated as fair value hedges. | |||||||||||||
Cash Flow Hedging We designate our cross-currency swaps as cash flow hedges. We have entered into multiple cross-currency swaps to hedge our exposure to variability in expected future cash flows that are attributable to foreign currency risk generated from the issuance of our Euro, British pound sterling and Canadian dollar denominated debt. These agreements include initial and final exchanges of principal from fixed foreign denominations to fixed U.S. denominated amounts, to be exchanged at a specified rate, which was determined by the market spot rate upon issuance. They also include an interest rate swap of a fixed foreign-denominated rate to a fixed U.S. denominated interest rate. | |||||||||||||
Unrealized gains on derivatives designated as cash flow hedges are recorded at fair value as assets, and unrealized losses on derivatives designated as cash flow hedges are recorded at fair value as liabilities, both for the period they are outstanding. For derivative instruments designated as cash flow hedges, the effective portion is reported as a component of accumulated OCI until reclassified into interest expense in the same period the hedged transaction affects earnings. The gain or loss on the ineffective portion is recognized as other income or expense in each period. We evaluate the effectiveness of our cross-currency swaps each quarter. In the three months ended March 31, 2014 and March 31, 2013, no ineffectiveness was measured on cross-currency swaps designated as cash flow hedges. | |||||||||||||
Periodically, we enter into and designate interest rate locks to partially hedge the risk of changes in interest payments attributable to increases in the benchmark interest rate during the period leading up to the probable issuance of fixed-rate debt. We designate our interest rate locks as cash flow hedges. Gains and losses when we settle our interest rate locks are amortized into income over the life of the related debt, except where a material amount is deemed to be ineffective, which would be immediately reclassified to “Other income (expense) – net” in the consolidated statements of income. Over the next 12 months, we expect to reclassify $43 from accumulated OCI to interest expense due to the amortization of net losses on historical interest rate locks. | |||||||||||||
We hedge a portion of the exchange risk involved in anticipation of highly probable foreign currency-denominated transactions. In anticipation of these transactions, we often enter into foreign exchange contracts to provide currency at a fixed rate. Some of these instruments are designated as cash flow hedges while others remain nondesignated, largely based on size and duration. Gains and losses at the time we settle or take delivery on our designated foreign exchange contracts are amortized into income in the same period the hedged transaction affects earnings, except where an amount is deemed to be ineffective, which would be immediately reclassified to other income (expense) in the consolidated statements of income. In the three months ended March 31, 2014 and March 31, 2013, no ineffectiveness was measured on foreign exchange contracts designated as cash flow hedges. | |||||||||||||
Collateral and Credit-Risk Contingency We have entered into agreements with our derivative counterparties establishing collateral thresholds based on respective credit ratings and netting agreements. At March 31, 2014, we had posted collateral of $28 (a deposit asset) and held collateral of $1,752 (a receipt liability). Under the agreements, if our credit rating had been downgraded one rating level by Moody's Investors Service and Standard & Poor's and two rating levels by Fitch, Inc., before the final collateral exchange in March, we would have been required to post additional collateral of $51. At December 31, 2013, we had posted collateral of $8 (a deposit asset) and held collateral of $1,600 (a receipt liability). We do not offset the fair value of collateral, whether the right to reclaim cash collateral (a receivable) or the obligation to return cash collateral (a payable), against the fair value of the derivative instruments. | |||||||||||||
Following is the notional amount of our outstanding derivative positions: | |||||||||||||
March 31, | December 31, | ||||||||||||
2014 | 2013 | ||||||||||||
Interest rate swaps | $ | 6,100 | $ | 4,750 | |||||||||
Cross-currency swaps | 17,787 | 17,787 | |||||||||||
Total | $ | 23,887 | $ | 22,537 | |||||||||
Following is the related hedged items affecting our financial position and performance: | |||||||||||||
Effect of Derivatives on the Consolidated Statements of Income | |||||||||||||
Fair Value Hedging Relationships | Three months ended | ||||||||||||
March 31, | March 31, | ||||||||||||
2014 | 2013 | ||||||||||||
Interest rate swaps (Interest expense): | |||||||||||||
Gain (Loss) on interest rate swaps | $ | -11 | $ | -24 | |||||||||
Gain (Loss) on long-term debt | 11 | 24 | |||||||||||
In addition, the net swap settlements that accrued and settled in the quarter ended March 31 were offset against interest expense. | |||||||||||||
Cash Flow Hedging Relationships | Three months ended | ||||||||||||
March 31, | March 31, | ||||||||||||
2014 | 2013 | ||||||||||||
Cross-currency swaps: | |||||||||||||
Gain (Loss) recognized in accumulated OCI | $ | 11 | $ | 141 | |||||||||
Interest rate locks: | |||||||||||||
Interest income (expense) reclassified from accumulated OCI into income | -11 | -11 | |||||||||||
Foreign exchange contracts: | |||||||||||||
Gain (Loss) recognized in accumulated OCI | -2 | -2 |
Acquisitions_Dispositions_And_
Acquisitions, Dispositions And Other Adjustments | 3 Months Ended | ||||||
Mar. 31, 2014 | |||||||
Acquisitions, Dispositions And Other Adjustments | ' | ||||||
Acquisitions, Dispositions And Other Adjustments | ' | ||||||
NOTE 7. ACQUSISTIONS, DISPOSITIONS AND OTHER ADJUSTMENTS | |||||||
Acquisitions | |||||||
Leap On March 13, 2014, we acquired Leap, a provider of prepaid wireless service, for fifteen dollars per outstanding share of Leap's common stock, or $1,248 (excluding Leap's cash on hand), plus one nontransferable contingent value right (CVR) per share. The CVR will entitle each Leap stockholder to a pro rata share of the net proceeds of the future sale of the Chicago 700 MHz A-band Federal Communications Commission (FCC) license held by Leap. | |||||||
The preliminary values of assets acquired under the terms of the agreement were: $3,070 in licenses, $520 in property, plant and equipment, $490 of customer lists, $340 for trade names and $346 of goodwill. The estimated fair value of debt associated with the acquisition of Leap was $3,889. | |||||||
In connection with the acquisition, we retired Leap's term and other loans and paid $1,869, including accrued interest in March 2014. In April 2014, we paid $1,889, including accrued interest and redemption premiums, to redeem additional Leap notes outstanding. | |||||||
Pending Disposition | |||||||
Connecticut Wireline In December 2013, we entered into an agreement to sell our incumbent local exchange operations in Connecticut for $2,000 in cash. The transaction is subject to review by the FCC and the Connecticut Public Utilities Regulatory Authority and other state regulatory authorities. We expect the deal to close in the fourth quarter of 2014, subject to customary closing conditions. | |||||||
We applied held-for-sale treatment to the assets and liabilities of the Connecticut operations, and, accordingly, included the assets in “Other current assets,” and the related liabilities in “Accounts payable and accrued liabilities,” on our consolidated balance sheets. However, the business does not qualify as discontinued operations as we expect significant continuing direct cash flows related to the disposed operations. Assets and liabilities of the Connecticut operations included the following: | |||||||
March 31, | December 31, | ||||||
2014 | 2013 | ||||||
Assets held for sale: | |||||||
Current assets | $ | 146 | $ | 155 | |||
Property, plant and equipment - net | 1,323 | 1,289 | |||||
Goodwill | 799 | 799 | |||||
Other assets | 18 | 17 | |||||
Total assets | $ | 2,286 | $ | 2,260 | |||
Liabilities related to assets held for sale: | |||||||
Current liabilities | $ | 122 | $ | 128 | |||
Noncurrent liabilities | 567 | 480 | |||||
Total liabilities | $ | 689 | $ | 608 |
Preparation_Of_Interim_Financi1
Preparation Of Interim Financial Statements (Policy) | 3 Months Ended |
Mar. 31, 2014 | |
Accounting Policies [Abstract] | ' |
Basis of Presentation and Significant Accounting Policies [Text Block] | ' |
NOTE 1. PREPARATION OF INTERIM FINANCIAL STATEMENTS | |
Basis of Presentation Throughout this document, AT&T Inc. is referred to as “AT&T,” “we” or the “Company.” We believe that these consolidated financial statements include all adjustments, consisting only of normal recurring accruals, that are necessary to present fairly the results for the presented interim periods. The results for the interim periods are not necessarily indicative of those for the full year. You should read this document in conjunction with the consolidated financial statements and accompanying notes included in our Annual Report on Form 10-K for the year ended December 31, 2013. On March 13, 2014, we closed our acquisition of Leap Wireless International, Inc. (Leap) (see Note 7), and we incorporated them into our wireless operations following the date of acquisition. | |
The consolidated financial statements include the accounts of the Company and our majority-owned subsidiaries and affiliates. Our subsidiaries and affiliates operate in the communications services industry both domestically and internationally, providing wireless communications services, traditional wireline voice services, data/broadband and Internet services, video services, telecommunications equipment, managed networking and wholesale services. | |
All significant intercompany transactions are eliminated in the consolidation process. Investments in partnerships and less than majority-owned subsidiaries where we have significant influence are accounted for under the equity method. Earnings from certain foreign equity investments accounted for using the equity method are included for periods ended within up to one month of our period end. We also record our proportionate share of our equity method investees' other comprehensive income (OCI) items, including actuarial gains and losses on pension and other postretirement benefit obligations. | |
The preparation of financial statements in conformity with U.S. generally accepted accounting principles (GAAP) requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes, including estimates of probable losses and expenses. Actual results could differ from those estimates. Certain amounts have been reclassified to conform to the current period's presentation. | |
Revenue Recognition | ' |
Equipment Installment Plan Under our AT&T NextSM (AT&T Next) program, we offer our customers the option to purchase certain devices in installments over a period of up to 26 months. Additionally, after a specified period of time they also have the right to trade in the original device for a new device and have the remaining unpaid balance satisfied. For customers that elect these trade-in programs, we recognize revenue at the point of sale for the entire amount of the customer receivable, net of the fair value of the trade-in right guarantee and imputed interest. |
Segment_Information_Policy
Segment Information (Policy) | 3 Months Ended |
Mar. 31, 2014 | |
Segment Information | ' |
Segment Reporting Pensions And Other Postretirement Plans | ' |
The Corporate and Other column includes unallocated corporate expenses, which includes costs to support corporate-driven activities and operations, impacts of corporate-wide decisions for which the individual operating segments are not being evaluated, including interest costs and expected return on plan assets for our pension and postretirement benefit plans as well as our actuarial gains and losses on our pension and postretirement plan valuations. |
Pension_And_Postretirement_Ben1
Pension And Postretirement Benefits (Policy) | 3 Months Ended |
Mar. 31, 2014 | |
Pension And Postretirement Benefits | ' |
Capitalization Of Benefit Plan Costs | ' |
A portion of these expenses is capitalized as part of internal construction projects, providing a small reduction in the net expense recorded. | |
Fair_Value_Measurements_And_Di1
Fair Value Measurements And Disclosure (Policy) | 3 Months Ended |
Mar. 31, 2014 | |
Fair Value Disclosures [Abstract] | ' |
Derivatives, Offsetting Fair Value Amounts, Policy [Policy Text Block] | ' |
We do not offset the fair value of collateral, whether the right to reclaim cash collateral (a receivable) or the obligation to return cash collateral (a payable), against the fair value of the derivative instruments. | |
Earnings_Per_Share_Tables
Earnings Per Share (Tables) | 3 Months Ended | |||||
Mar. 31, 2014 | ||||||
Earnings Per Share | ' | |||||
Reconciliation Of The Numerators And Denominators Of Basic Earnings Per Share And Diluted Earnings Per Share | ' | |||||
Three months ended | ||||||
March 31, | ||||||
2014 | 2013 | |||||
Numerators | ||||||
Numerator for basic earnings per share: | ||||||
Net income | $ | 3,734 | $ | 3,773 | ||
Less: Net income attributable to noncontrolling interest | -82 | -73 | ||||
Net income attributable to AT&T | 3,652 | 3,700 | ||||
Dilutive potential common shares: | ||||||
Share-based payment | 4 | 4 | ||||
Numerator for diluted earnings per share | $ | 3,656 | $ | 3,704 | ||
Denominators (000,000) | ||||||
Denominator for basic earnings per share: | ||||||
Weighted-average number of common shares outstanding | 5,222 | 5,513 | ||||
Dilutive potential common shares: | ||||||
Share-based payment (in shares) | 16 | 17 | ||||
Denominator for diluted earnings per share | 5,238 | 5,530 | ||||
Basic earnings per share attributable to AT&T | $ | 0.7 | $ | 0.67 | ||
Diluted earnings per share attributable to AT&T | $ | 0.7 | $ | 0.67 |
Accumulated_Other_Comprehensiv1
Accumulated Other Comprehensive Income (Tables) | 3 Months Ended | |||||||||||||||
Mar. 31, 2014 | ||||||||||||||||
Accumulated Other Comprehensive Income | ' | |||||||||||||||
Accumulated Other Comprehensive Income | ' | |||||||||||||||
At March 31, 2014 and for the period ended: | ||||||||||||||||
Foreign Currency Translation Adjustment | Net Unrealized Gains (Losses) on Available-for-Sale Securities | Net Unrealized Gains (Losses) on Cash Flow Hedges | Defined Benefit Postretirement Plans | Accumulated Other Comprehensive Income | ||||||||||||
Balance as of December 31, 2013 | $ | -367 | $ | 450 | $ | 445 | $ | 7,352 | $ | 7,880 | ||||||
Other comprehensive income (loss) before reclassifications | -20 | 16 | 6 | - | 2 | |||||||||||
Amounts reclassified from accumulated OCI | 251 | (11)2 | 73 | (237)4 | -216 | |||||||||||
Net other comprehensive income (loss) | 5 | 5 | 13 | -237 | -214 | |||||||||||
Balance as of March 31, 2014 | $ | -362 | $ | 455 | $ | 458 | $ | 7,115 | $ | 7,666 | ||||||
At March 31, 2013 and for the period ended: | ||||||||||||||||
Foreign Currency Translation Adjustment | Net Unrealized Gains (Losses) on Available-for-Sale Securities | Net Unrealized Gains (Losses) on Cash Flow Hedges | Defined Benefit Postretirement Plans | Accumulated Other Comprehensive Income | ||||||||||||
Balance as of December 31, 2012 | $ | -284 | $ | 272 | $ | -110 | $ | 5,358 | $ | 5,236 | ||||||
Other comprehensive income before reclassifications | 121 | 75 | 90 | - | 286 | |||||||||||
Amounts reclassified from accumulated OCI | -1 | (7)2 | 73 | (178)4 | -178 | |||||||||||
Net other comprehensive income (loss) | 121 | 68 | 97 | -178 | 108 | |||||||||||
Balance as of March 31, 2013 | $ | -163 | $ | 340 | $ | -13 | $ | 5,180 | $ | 5,344 | ||||||
1 | Pre-tax translation loss reclassifications are included in Other income (expense) - net in the consolidated statements of income. | |||||||||||||||
2 | Realized gains (losses) are included in Other income (expense) - net in the consolidated statements of income. | |||||||||||||||
3 | Realized (gains) losses are included in interest expense in the consolidated statements of income. | |||||||||||||||
See Note 6 for additional information. | ||||||||||||||||
4 | The amortization of prior service credits associated with postretirement benefits, net of amounts capitalized as part of construction | |||||||||||||||
labor, are included in Cost of services and sales and Selling, general and administrative in the consolidated statements of income | ||||||||||||||||
(see Note 5). Actuarial loss reclassifications related to our equity method investees are included in Other income (expense) - net | ||||||||||||||||
in the consolidated statements of income. |
Segment_Information_Tables
Segment Information (Tables) | 3 Months Ended | |||||||||||
Mar. 31, 2014 | ||||||||||||
Segment Information | ' | |||||||||||
Summary Of Operating Revenues And Expenses By Segment | ' | |||||||||||
For the three months ended March 31, 2014: | ||||||||||||
Wireless | Wireline | Corporate and Other | Consolidated Results | |||||||||
Service | $ | 15,387 | $ | 14,389 | $ | - | $ | 29,776 | ||||
Equipment | 2,479 | 212 | 9 | 2,700 | ||||||||
Total segment operating revenues | 17,866 | 14,601 | 9 | 32,476 | ||||||||
Operations and support expenses | 10,882 | 10,457 | 242 | 21,581 | ||||||||
Depreciation and amortization expenses | 1,931 | 2,684 | 2 | 4,617 | ||||||||
Total segment operating expenses | 12,813 | 13,141 | 244 | 26,198 | ||||||||
Segment operating income (loss) | 5,053 | 1,460 | -235 | 6,278 | ||||||||
Interest expense | - | - | 860 | 860 | ||||||||
Equity in net income (loss) of affiliates | -20 | 1 | 107 | 88 | ||||||||
Other income (expense) – net | - | - | 145 | 145 | ||||||||
Segment income (loss) before income taxes | $ | 5,033 | $ | 1,461 | $ | -843 | $ | 5,651 | ||||
For the three months ended March 31, 2013: | ||||||||||||
Wireless | Wireline | Corporate and Other | Consolidated Results | |||||||||
Service | $ | 15,062 | $ | 14,381 | $ | - | $ | 29,443 | ||||
Equipment | 1,629 | 274 | 10 | 1,913 | ||||||||
Total segment operating revenues | 16,691 | 14,655 | 10 | 31,356 | ||||||||
Operations and support expenses | 10,180 | 10,335 | 372 | 20,887 | ||||||||
Depreciation and amortization expenses | 1,835 | 2,688 | 6 | 4,529 | ||||||||
Total segment operating expenses | 12,015 | 13,023 | 378 | 25,416 | ||||||||
Segment operating income (loss) | 4,676 | 1,632 | -368 | 5,940 | ||||||||
Interest expense | - | - | 827 | 827 | ||||||||
Equity in net income (loss) of affiliates | -18 | 1 | 202 | 185 | ||||||||
Other income (expense) – net | - | - | 32 | 32 | ||||||||
Segment income (loss) before income taxes | $ | 4,658 | $ | 1,633 | $ | -961 | $ | 5,330 |
Pension_And_Postretirement_Ben2
Pension And Postretirement Benefits (Tables) | 3 Months Ended | |||||
Mar. 31, 2014 | ||||||
Pension And Postretirement Benefits | ' | |||||
Pension And Postretirement Benefit Costs Included In Operating Expenses | ' | |||||
Three months ended | ||||||
March 31, | ||||||
2014 | 2013 | |||||
Pension cost: | ||||||
Service cost – benefits earned during the period | $ | 282 | $ | 330 | ||
Interest cost on projected benefit obligation | 661 | 607 | ||||
Expected return on assets | -849 | -828 | ||||
Amortization of prior service credit | -24 | -23 | ||||
Net pension cost | $ | 70 | $ | 86 | ||
Postretirement cost: | ||||||
Service cost – benefits earned during the period | $ | 58 | $ | 95 | ||
Interest cost on accumulated postretirement benefit obligation | 365 | 390 | ||||
Expected return on assets | -164 | -178 | ||||
Amortization of prior service credit | -362 | -263 | ||||
Net postretirement (credit) cost | $ | -103 | $ | 44 | ||
Combined net pension and postretirement (credit) cost | $ | -33 | $ | 130 |
Fair_Value_Measurements_And_Di2
Fair Value Measurements And Disclosure (Tables) | 3 Months Ended | ||||||||||||
Mar. 31, 2014 | |||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||
Long-Term Debt And Other Financial Instruments | ' | ||||||||||||
31-Mar-14 | 31-Dec-13 | ||||||||||||
Carrying | Fair | Carrying | Fair | ||||||||||
Amount | Value | Amount | Value | ||||||||||
Notes and debentures | $ | 79,552 | $ | 85,698 | $ | 74,484 | $ | 79,309 | |||||
Commercial paper | - | - | 20 | 20 | |||||||||
Bank borrowings | 4 | 4 | 1 | 1 | |||||||||
Investment securities | 2,609 | 2,609 | 2,450 | 2,450 | |||||||||
Fair Value Leveling | ' | ||||||||||||
31-Mar-14 | |||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||
Available-for-Sale Securities | |||||||||||||
Domestic equities | $ | 1,055 | $ | - | $ | - | $ | 1,055 | |||||
International equities | 543 | - | - | 543 | |||||||||
Fixed income bonds | - | 947 | - | 947 | |||||||||
Asset Derivatives1 | |||||||||||||
Interest rate swaps | - | 176 | - | 176 | |||||||||
Cross-currency swaps | - | 2,020 | - | 2,020 | |||||||||
Liability Derivatives1 | |||||||||||||
Interest rate swaps | - | -8 | - | -8 | |||||||||
Cross-currency swaps | - | -534 | - | -534 | |||||||||
31-Dec-13 | |||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||
Available-for-Sale Securities | |||||||||||||
Domestic equities | $ | 1,049 | $ | - | $ | - | $ | 1,049 | |||||
International equities | 563 | - | - | 563 | |||||||||
Fixed income bonds | - | 759 | - | 759 | |||||||||
Asset Derivatives1 | |||||||||||||
Interest rate swaps | - | 191 | - | 191 | |||||||||
Cross-currency swaps | - | 1,951 | - | 1,951 | |||||||||
Liability Derivatives1 | |||||||||||||
Interest rate swaps | - | -7 | - | -7 | |||||||||
Cross-currency swaps | - | -519 | - | -519 | |||||||||
1 | Derivatives designated as hedging instruments are reflected as Other assets, Other noncurrent liabilities and, for a portion of interest | ||||||||||||
rate swaps, Other current assets. | |||||||||||||
Notional Amount Of Outstanding Derivative Positions | ' | ||||||||||||
March 31, | December 31, | ||||||||||||
2014 | 2013 | ||||||||||||
Interest rate swaps | $ | 6,100 | $ | 4,750 | |||||||||
Cross-currency swaps | 17,787 | 17,787 | |||||||||||
Total | $ | 23,887 | $ | 22,537 | |||||||||
Effect Of Derivatives On The Consolidated Statements Of Income | ' | ||||||||||||
Following is the related hedged items affecting our financial position and performance: | |||||||||||||
Effect of Derivatives on the Consolidated Statements of Income | |||||||||||||
Fair Value Hedging Relationships | Three months ended | ||||||||||||
March 31, | March 31, | ||||||||||||
2014 | 2013 | ||||||||||||
Interest rate swaps (Interest expense): | |||||||||||||
Gain (Loss) on interest rate swaps | $ | -11 | $ | -24 | |||||||||
Gain (Loss) on long-term debt | 11 | 24 | |||||||||||
Cash Flow Hedging Relationships | Three months ended | ||||||||||||
March 31, | March 31, | ||||||||||||
2014 | 2013 | ||||||||||||
Cross-currency swaps: | |||||||||||||
Gain (Loss) recognized in accumulated OCI | $ | 11 | $ | 141 | |||||||||
Interest rate locks: | |||||||||||||
Interest income (expense) reclassified from accumulated OCI into income | -11 | -11 | |||||||||||
Foreign exchange contracts: | |||||||||||||
Gain (Loss) recognized in accumulated OCI | -2 | -2 |
Acquisitions_Dispositions_And_1
Acquisitions, Dispositions And Other Adjustments (Tables) | 3 Months Ended | ||||||
Mar. 31, 2014 | |||||||
Acquisitions, Dispositions And Other Adjustments | ' | ||||||
Balance Sheet of Disposal Group | ' | ||||||
March 31, | December 31, | ||||||
2014 | 2013 | ||||||
Assets held for sale: | |||||||
Current assets | $ | 146 | $ | 155 | |||
Property, plant and equipment - net | 1,323 | 1,289 | |||||
Goodwill | 799 | 799 | |||||
Other assets | 18 | 17 | |||||
Total assets | $ | 2,286 | $ | 2,260 | |||
Liabilities related to assets held for sale: | |||||||
Current liabilities | $ | 122 | $ | 128 | |||
Noncurrent liabilities | 567 | 480 | |||||
Total liabilities | $ | 689 | $ | 608 |
Preparation_Of_Interim_Financi2
Preparation Of Interim Financial Statements (Details) (USD $) | 3 Months Ended |
In Millions, unless otherwise specified | Mar. 31, 2014 |
Preparation Of Interim Financial Statements Disclosure [Abstract] | ' |
Equipment installment sales - maximum installment period under AT&T Next (in months) | '26 |
Equipment installment receivable - ending balance | $2,447 |
Equity, Class of Treasury Stock [Line Items] | ' |
Stock Repurchase Program, Number of Shares Authorized to be Repurchased | 300 |
Stock Repurchase Program, Remaining Number of Shares Authorized to be Repurchased | 425 |
Treasury Stock, Value, Acquired, Cost Method | $1,237 |
Treasury Stock, Shares, Acquired | 37 |
Earnings_Per_Share_Details
Earnings Per Share (Details) (USD $) | 3 Months Ended | |
In Millions, except Per Share data, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Earnings Per Share | ' | ' |
Net income | $3,734 | $3,773 |
Less: Net income attributable to noncontrolling interest | -82 | -73 |
Net income attributable to AT&T | 3,652 | 3,700 |
Share-based payment | 4 | 4 |
Numerator for diluted earnings per share | $3,656 | $3,704 |
Weighted-average number of common shares outstanding | 5,222 | 5,513 |
Share-based payment (in shares) | 16 | 17 |
Denominator for diluted earnings per share | 5,238 | 5,530 |
Basic Earnings Per Share Attributable to AT&T | $0.70 | $0.67 |
Diluted Earnings Per Share Attributable to AT&T | $0.70 | $0.67 |
Stock options issued and outstanding | 12 | 15 |
Stock options with exercise prices above average market price of company stock | 3 | 4 |
Accumulated_Other_Comprehensiv2
Accumulated Other Comprehensive Income (Details) (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Accumulated Other Comprehensive Income Loss [Line Items] | ' | ' |
Accumulated other comprehensive income, beginning balance | $7,880 | $5,236 |
Other comprehensive income (loss) before reclassification, net of tax | 2 | 286 |
Amounts reclassifed from accumulated OCI, net of tax | -216 | -178 |
Net other comprehensive income (loss), net of tax | -214 | 108 |
Accumulated other comprehensive income, ending balance | 7,666 | 5,344 |
Foreign Currency Translation Adjustment [Member] | ' | ' |
Accumulated Other Comprehensive Income Loss [Line Items] | ' | ' |
Accumulated other comprehensive income, beginning balance | -367 | -284 |
Other comprehensive income (loss) before reclassification, net of tax | -20 | 121 |
Amounts reclassifed from accumulated OCI, net of tax | 25 | 0 |
Net other comprehensive income (loss), net of tax | 5 | 121 |
Accumulated other comprehensive income, ending balance | -362 | -163 |
Net Unrealized Gains (Losses) on Available-for-Sale Securities [Member] | ' | ' |
Accumulated Other Comprehensive Income Loss [Line Items] | ' | ' |
Accumulated other comprehensive income, beginning balance | 450 | 272 |
Other comprehensive income (loss) before reclassification, net of tax | 16 | 75 |
Amounts reclassifed from accumulated OCI, net of tax | -11 | -7 |
Net other comprehensive income (loss), net of tax | 5 | 68 |
Accumulated other comprehensive income, ending balance | 455 | 340 |
Net Unrealized Gains (Losses) on Cash Flow Hedges [Member] | ' | ' |
Accumulated Other Comprehensive Income Loss [Line Items] | ' | ' |
Accumulated other comprehensive income, beginning balance | 445 | -110 |
Other comprehensive income (loss) before reclassification, net of tax | 6 | 90 |
Amounts reclassifed from accumulated OCI, net of tax | 7 | 7 |
Net other comprehensive income (loss), net of tax | 13 | 97 |
Accumulated other comprehensive income, ending balance | 458 | -13 |
Defined Benefit Postretirement Plans [Member] | ' | ' |
Accumulated Other Comprehensive Income Loss [Line Items] | ' | ' |
Accumulated other comprehensive income, beginning balance | 7,352 | 5,358 |
Other comprehensive income (loss) before reclassification, net of tax | 0 | 0 |
Amounts reclassifed from accumulated OCI, net of tax | -237 | -178 |
Net other comprehensive income (loss), net of tax | -237 | -178 |
Accumulated other comprehensive income, ending balance | $7,115 | $5,180 |
Segment_Information_Summary_Of
Segment Information (Summary Of Operating Revenues And Expenses By Segment) (Details) (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Segment Reporting Information [Line Items] | ' | ' |
Service | $29,776 | $29,443 |
Equipment | 2,700 | 1,913 |
Total segment operating revenues | 32,476 | 31,356 |
Operations and support expenses | 21,581 | 20,887 |
Depreciation and amortization expenses | 4,617 | 4,529 |
Total segment operating expenses | 26,198 | 25,416 |
Segment operating income (loss) | 6,278 | 5,940 |
Interest expense | 860 | 827 |
Equity in net income (loss) of affiliates | 88 | 185 |
Other income (expense) - net | 145 | 32 |
Segment income (loss) before income taxes | 5,651 | 5,330 |
Operating Segments [Member] | Wireless [Member] | ' | ' |
Segment Reporting Information [Line Items] | ' | ' |
Service | 15,387 | 15,062 |
Equipment | 2,479 | 1,629 |
Total segment operating revenues | 17,866 | 16,691 |
Operations and support expenses | 10,882 | 10,180 |
Depreciation and amortization expenses | 1,931 | 1,835 |
Total segment operating expenses | 12,813 | 12,015 |
Segment operating income (loss) | 5,053 | 4,676 |
Interest expense | 0 | 0 |
Equity in net income (loss) of affiliates | -20 | -18 |
Other income (expense) - net | 0 | 0 |
Segment income (loss) before income taxes | 5,033 | 4,658 |
Operating Segments [Member] | Wireline [Member] | ' | ' |
Segment Reporting Information [Line Items] | ' | ' |
Service | 14,389 | 14,381 |
Equipment | 212 | 274 |
Total segment operating revenues | 14,601 | 14,655 |
Operations and support expenses | 10,457 | 10,335 |
Depreciation and amortization expenses | 2,684 | 2,688 |
Total segment operating expenses | 13,141 | 13,023 |
Segment operating income (loss) | 1,460 | 1,632 |
Interest expense | 0 | 0 |
Equity in net income (loss) of affiliates | 1 | 1 |
Other income (expense) - net | 0 | 0 |
Segment income (loss) before income taxes | 1,461 | 1,633 |
Consolidation Non-Segment [Member] | Corporate and Other [Member] | ' | ' |
Segment Reporting Information [Line Items] | ' | ' |
Service | 0 | 0 |
Equipment | 9 | 10 |
Total segment operating revenues | 9 | 10 |
Operations and support expenses | 242 | 372 |
Depreciation and amortization expenses | 2 | 6 |
Total segment operating expenses | 244 | 378 |
Segment operating income (loss) | -235 | -368 |
Interest expense | 860 | 827 |
Equity in net income (loss) of affiliates | 107 | 202 |
Other income (expense) - net | 145 | 32 |
Segment income (loss) before income taxes | ($843) | ($961) |
Segment_Information_Summary_Of1
Segment Information (Summary Of Operating Revenues And Expenses By Segment) (Narrative) (Details) | 3 Months Ended |
Mar. 31, 2014 | |
Business Segment Transaction [Abstract] | ' |
Number of Reportable Segments | 2 |
Pension_And_Postretirement_Ben3
Pension And Postretirement Benefits (Narrative) (Details) (USD $) | 3 Months Ended | 12 Months Ended | ||
In Millions, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2014 | Sep. 09, 2013 |
Pension And Postretirement Benefits | ' | ' | ' | ' |
Combined net pension and postretirement cost increase (decrease) | ($163) | ' | ' | ' |
Net supplemental retirement pension benefits costs | 29 | 27 | ' | ' |
Net supplemental retirement pension benefits costs - interest cost | 27 | 25 | ' | ' |
Fair value of plan assets at end of period | 9,222 | ' | ' | ' |
Pension Contribution Date | ' | ' | ' | 9-Sep-13 |
Required contribution to our pension plans | $140 | ' | $560 | ' |
Department Of Labor Published Proposed Exemption Voluntary Pension Contribution Date | ' | ' | ' | 9-Sep-13 |
Pension_And_Postretirement_Ben4
Pension And Postretirement Benefits (Pension And Postretirement Benefit Costs Included In Operating Expenses) (Details) (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Net (credit) cost | ($33) | $130 |
Pension Benefit Cost [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Service cost - benefits earned during the period | 282 | 330 |
Interest cost on benefit obligation | 661 | 607 |
Expected return on assets | -849 | -828 |
Amortization of prior service (credit) | -24 | -23 |
Net (credit) cost | 70 | 86 |
Postretirement Benefit Cost [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Service cost - benefits earned during the period | 58 | 95 |
Interest cost on benefit obligation | 365 | 390 |
Expected return on assets | -164 | -178 |
Amortization of prior service (credit) | -362 | -263 |
Net (credit) cost | ($103) | $44 |
Fair_Value_Measurements_And_Di3
Fair Value Measurements And Disclosure (Narrative) (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Fair Value Disclosures [Abstract] | ' | ' |
Fixed income investments - maturities less than 1 year | $116 | ' |
Fixed income investments - maturities within 1 to 3 years | 515 | ' |
Fixed income investments - maturities within 3 to 5 years | 65 | ' |
Fixed income investments - maturities for 5 or more years | 251 | ' |
Anticipated reclassification of holding losses during the next 12 months - cash flow hedges | 43 | ' |
Collateral received from counterparty | 1,752 | 1,600 |
Collateral submitted to counterparty | 28 | 8 |
Collateral contingently payable to the counterparty | $51 | ' |
Fair_Value_Measurements_And_Di4
Fair Value Measurements And Disclosure (Long-Term Debt And Other Financial Instruments) (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Carrying Amount [Member] | ' | ' |
Schedule of Fair Value of Separate Accounts by Major Category of Investment [Line Items] | ' | ' |
Notes and debentures | $79,552 | $74,484 |
Commercial paper | 0 | 20 |
Bank borrowings | 4 | 1 |
Investment securities | 2,609 | 2,450 |
Fair Value [Member] | ' | ' |
Schedule of Fair Value of Separate Accounts by Major Category of Investment [Line Items] | ' | ' |
Commercial paper | 0 | 20 |
Bank borrowings | 4 | 1 |
Investment securities | 2,609 | 2,450 |
Fair Value [Member] | Level 2 [Member] | ' | ' |
Schedule of Fair Value of Separate Accounts by Major Category of Investment [Line Items] | ' | ' |
Notes and debentures | $85,698 | $79,309 |
Fair_Value_Measurements_And_Di5
Fair Value Measurements And Disclosure (Fair Value Leveling) (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Interest Rate Swaps [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Asset Derivatives (at fair value) | $176 | $191 |
Liability Derivatives (at fair value) | -8 | -7 |
Cross-Currency Swaps [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Asset Derivatives (at fair value) | 2,020 | 1,951 |
Liability Derivatives (at fair value) | -534 | -519 |
Domestic Equities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-Sale Securities (at fair value) | 1,055 | 1,049 |
International Equities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-Sale Securities (at fair value) | 543 | 563 |
Fixed Income Bonds [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-Sale Securities (at fair value) | 947 | 759 |
Level 1 [Member] | Interest Rate Swaps [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Asset Derivatives (at fair value) | 0 | 0 |
Liability Derivatives (at fair value) | 0 | 0 |
Level 1 [Member] | Cross-Currency Swaps [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Asset Derivatives (at fair value) | 0 | 0 |
Liability Derivatives (at fair value) | 0 | 0 |
Level 1 [Member] | Domestic Equities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-Sale Securities (at fair value) | 1,055 | 1,049 |
Level 1 [Member] | International Equities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-Sale Securities (at fair value) | 543 | 563 |
Level 1 [Member] | Fixed Income Bonds [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-Sale Securities (at fair value) | 0 | 0 |
Level 2 [Member] | Interest Rate Swaps [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Asset Derivatives (at fair value) | 176 | 191 |
Liability Derivatives (at fair value) | -8 | -7 |
Level 2 [Member] | Cross-Currency Swaps [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Asset Derivatives (at fair value) | 2,020 | 1,951 |
Liability Derivatives (at fair value) | -534 | -519 |
Level 2 [Member] | Domestic Equities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-Sale Securities (at fair value) | 0 | 0 |
Level 2 [Member] | International Equities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-Sale Securities (at fair value) | 0 | 0 |
Level 2 [Member] | Fixed Income Bonds [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-Sale Securities (at fair value) | 947 | 759 |
Level 3 [Member] | Interest Rate Swaps [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Asset Derivatives (at fair value) | 0 | 0 |
Liability Derivatives (at fair value) | 0 | 0 |
Level 3 [Member] | Cross-Currency Swaps [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Asset Derivatives (at fair value) | 0 | 0 |
Liability Derivatives (at fair value) | 0 | 0 |
Level 3 [Member] | Domestic Equities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-Sale Securities (at fair value) | 0 | 0 |
Level 3 [Member] | International Equities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-Sale Securities (at fair value) | 0 | 0 |
Level 3 [Member] | Fixed Income Bonds [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Available-for-Sale Securities (at fair value) | $0 | $0 |
Fair_Value_Measurements_And_Di6
Fair Value Measurements And Disclosure (Notional Amount Of Our Outstanding Derivative Positions) (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Derivative [Line Items] | ' | ' |
Notional Amount of Outstanding Derivative Positions | $23,887 | $22,537 |
Interest Rate Swaps [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Notional Amount of Outstanding Derivative Positions | 6,100 | 4,750 |
Cross-Currency Swaps [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Notional Amount of Outstanding Derivative Positions | $17,787 | $17,787 |
Fair_Value_Measurements_And_Di7
Fair Value Measurements And Disclosure (Effect Of Derivatives On The Consolidated Statements Of Income) (Details) (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Fair Value Hedging Relationships [Member] | Interest Rate Swaps [Member] | Interest expense [Member] | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' |
Gain (Loss) on interest rate swaps | ($11) | ($24) |
Gain (Loss) on long-term debt | 11 | 24 |
Cash Flow Hedging Relationships [Member] | Cross-Currency Swaps [Member] | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' |
Gain (Loss) recognized in accumulated OCI | 11 | 141 |
Cash Flow Hedging Relationships [Member] | Interest Rate Locks [Member] | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' |
Interest income (expense) reclassified from accumulated OCI into income | -11 | -11 |
Cash Flow Hedging Relationships [Member] | Foreign Exchange Contracts [Member] | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' |
Gain (Loss) recognized in accumulated OCI | ($2) | ($2) |
Acquisitions_Dispositions_And_2
Acquisitions, Dispositions And Other Adjustments (Narrative) (Details) (USD $) | 3 Months Ended | 1 Months Ended | 3 Months Ended | 0 Months Ended | 1 Months Ended | 0 Months Ended | ||||||
In Millions, except Per Share data, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2014 | Mar. 13, 2014 | Apr. 30, 2014 | Mar. 31, 2014 | Mar. 13, 2014 | Mar. 13, 2014 | Mar. 13, 2014 | Mar. 13, 2014 | Mar. 13, 2014 |
Connecticut Wireline [Member] | Connecticut Wireline [Member] | Leap Wireless International [Member] | Leap Wireless International [Member] | Leap Wireless International [Member] | Leap Wireless International [Member] | Leap Wireless International [Member] | Leap Wireless International [Member] | Leap Wireless International [Member] | Leap Wireless International [Member] | |||
Disposition [Member] | Disposition [Member] | Acquisition [Member] | Acquisition [Member] | Acquisition [Member] | Acquisition [Member] | Acquisition [Member] | Acquisition [Member] | Acquisition [Member] | Acquisition [Member] | |||
Pending Approval [Member] | Pending Approval [Member] | Licenses [Member] | Property, Plant and Equipment [Member] | Customer Lists [Member] | Goodwill [Member] | Trade Names [Member] | ||||||
Business Acquisition [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Acquisition of assets - anticipated or actual acquisition date | ' | ' | ' | ' | 13-Mar-14 | ' | ' | ' | ' | ' | ' | ' |
Acquisition of assets - anticipated or actual cash paid to seller | $662 | $1,045 | ' | ' | $1,248 | ' | ' | ' | ' | ' | ' | ' |
Acquisition of assets - noncash consideration | ' | ' | ' | ' | 'one non-transferable contingent value right per share | ' | ' | ' | ' | ' | ' | ' |
Acquisition of business - purchase price (in US dollars per share) | ' | ' | ' | ' | $15 | ' | ' | ' | ' | ' | ' | ' |
Acquisition of business - allocation to debt | ' | ' | ' | ' | 3,889 | ' | ' | ' | ' | ' | ' | ' |
Acquisition of business - repayments of debt | ' | ' | ' | ' | ' | 1,889 | 1,869 | ' | ' | ' | ' | ' |
Acquisition of business - preliminary value/amount of assets acquired | ' | ' | ' | ' | ' | ' | ' | 3,070 | 520 | 490 | 346 | 340 |
Pendiing Acquisitions Dispositions | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Disposition of asset - agreement period | ' | ' | '2013-12 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Disposition of business - estimated cash to be received from sale of subsidiary | ' | ' | $2,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Disposition of business - anticipated or actual disposition period | ' | ' | ' | 31-Dec-14 | ' | ' | ' | ' | ' | ' | ' | ' |
Acquisitions_Dispositions_And_3
Acquisitions, Dispositions And Other Adjustments (Operating Results Of Discontinued Operation) (Details) (Connecticut Wireline [Member], Pending Approval [Member], Disposition [Member], USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Connecticut Wireline [Member] | Pending Approval [Member] | Disposition [Member] | ' | ' |
Assets Held For Sale: | ' | ' |
Current assets | $146 | $155 |
Property, plant and equipment - net | 1,323 | 1,289 |
Goodwill | 799 | 799 |
Other assets | 18 | 17 |
Total assets | 2,286 | 2,260 |
Liabilities related to assets held for sale: | ' | ' |
Current liabilities | 122 | 128 |
Noncurrent liabilities | 567 | 480 |
Total liabilities | $689 | $608 |