Document_Entity_Information
Document Entity Information (USD $) | 12 Months Ended | ||
In Billions, except Share data in Millions, unless otherwise specified | Dec. 31, 2014 | Feb. 13, 2015 | Jun. 30, 2014 |
Document And Entity Information [Abstract] | |||
Document Type | 10-K | ||
Amendment Flag | FALSE | ||
Document Period End Date | 31-Dec-14 | ||
Entity Registrant Name | AT&T Inc. | ||
Entity Central Index Key | 732717 | ||
Current Fiscal Year End Date | -19 | ||
Entity Filer Category | Large Accelerated Filer | ||
Entity Common Stock, Shares Outstanding | 5,190 | ||
Document Fiscal Year Focus | 2014 | ||
Document Fiscal Period Focus | FY | ||
Entity Public Float | $183.50 | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Well-known Seasoned Issuer | Yes | ||
Entity Trading Symbol | T |
Consolidated_Statements_Of_Inc
Consolidated Statements Of Income (USD $) | 12 Months Ended | ||
In Millions, except Per Share data, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Operating Revenues | |||
Service | $118,437 | $119,252 | $118,506 |
Equipment | 14,010 | 9,500 | 8,928 |
Total Operating Revenues | 132,447 | 128,752 | 127,434 |
Operating Expenses | |||
Cost of services and sales (exclusive of depreciation and amortization shown separately below) | 60,611 | 51,464 | 55,228 |
Selling, general and administrative | 39,697 | 28,414 | 41,066 |
Abandonment of network assets | 2,120 | 0 | 0 |
Depreciation and amortization | 18,273 | 18,395 | 18,143 |
Total operating expenses | 120,701 | 98,273 | 114,437 |
Operating Income | 11,746 | 30,479 | 12,997 |
Other Income (Expense) | |||
Interest expense | -3,613 | -3,940 | -3,444 |
Equity in net income of affiliates | 175 | 642 | 752 |
Other income (expense) - net | 1,652 | 596 | 134 |
Total other income (expense) | -1,786 | -2,702 | -2,558 |
Income Before Income Taxes | 9,960 | 27,777 | 10,439 |
Income tax expense | 3,442 | 9,224 | 2,900 |
Net Income | 6,518 | 18,553 | 7,539 |
Less: Net Income Attributable to Noncontrolling Interest | -294 | -304 | -275 |
Net Income Attributable to AT&T | $6,224 | $18,249 | $7,264 |
Basic Earnings Per Share Attributable to AT&T | $1.19 | $3.39 | $1.25 |
Diluted Earnings Per Share Attributable to AT&T | $1.19 | $3.39 | $1.25 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Consolidated Statements Of Comprehensive Income [Abstract] | |||
Net Income | $6,518 | $18,553 | $7,539 |
Foreign Currency: | |||
Foreign currency translation adjustments (includes $0, $(2) and $0 attributable to noncontrolling interest), net of taxes of $(45), $(78) and $48 | -75 | -140 | 87 |
Reclassification adjustment included in net income, net of taxes of $224, $30 and $0 | 416 | 55 | 0 |
Available-for-sale securities: | |||
Net unrealized gains, net of taxes of $40, $137, and $64 | 64 | 257 | 118 |
Reclassification adjustment included in net income, net of taxes of $(10), $(42) and $(36) | -16 | -79 | -68 |
Cash flow hedges: | |||
Net unrealized gains, net of taxes of $140, $286 and $154 | 260 | 525 | 283 |
Reclassification adjustment included in net income, net of taxes of $18, $16 and $15 | 36 | 30 | 28 |
Defined benefit postretirement plans: | |||
Net actuarial loss from equity method investees arising during period, net of taxes of $0, $0 and $(32) | 0 | 0 | -53 |
Reclassification adjustment included in net income, net of taxes of $11, $7 and $0 | 26 | 11 | 0 |
Net prior service credit arising during period, net of taxes of $262, $1,695 and $1,378 | 428 | 2,765 | 2,249 |
Amortization of net prior service credit included in net income, net of taxes of $(588), $(480) and $(361) | -959 | -782 | -588 |
Other comprehensive income | 180 | 2,642 | 2,056 |
Total comprehensive Income | 6,698 | 21,195 | 9,595 |
Less: Total comprehensive income attributable to noncontrolling interest | -294 | -302 | -275 |
Total Comprehensive Income Attributable to AT&T | $6,404 | $20,893 | $9,320 |
Consolidated_Statements_of_Com1
Consolidated Statements of Comprehensive Income (Parenthetical) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Consolidated Statements Of Comprehensive Income [Abstract] | |||
Foreign currency translation adjustments, attributable to noncontrolling interest, net of taxes | $0 | ($2) | $0 |
Foreign currency translation adjustments, tax effect | -45 | -78 | 48 |
Reclassification adjustment in net income on currency translation adjustments - tax effect | 224 | 30 | 0 |
Unrealized gains (losses) on available-for-sale securities, tax effect | 40 | 137 | 64 |
Reclassification adjustment realized in net income on available-for-sale securities, tax effect | -10 | -42 | -36 |
Unrealized gains (losses) on cash flow hedges, tax effect | 140 | 286 | 154 |
Reclassification adjustment included in net income on cash flow hedges, tax effect | 18 | 16 | 15 |
Net actuarial loss from equity method investees arising during period - tax effect | 0 | 0 | -32 |
Reclassification adjustment in net income - tax effect | 11 | 7 | 0 |
Net prior service credit (cost) arising during period - tax effect | 262 | 1,695 | 1,378 |
Amortization of net prior service cost (credit) included in net income, tax effect | ($588) | ($480) | ($361) |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Current Assets | ||
Cash and cash equivalents | $8,603 | $3,339 |
Accounts receivable - net of allowances for doubtful accounts of $454 and $483 | 14,527 | 12,918 |
Prepaid expenses | 831 | 960 |
Deferred income taxes | 1,142 | 1,199 |
Other current assets | 6,925 | 4,780 |
Total current assets | 32,028 | 23,196 |
Property, plant and equipment - net | 112,898 | 110,968 |
Goodwill | 69,692 | 69,273 |
Licenses | 60,824 | 56,433 |
Other Intangible Assets - Net | 6,139 | 5,779 |
Investments in Equity Affiliates | 250 | 3,860 |
Other Assets | 10,998 | 8,278 |
Total Assets | 292,829 | 277,787 |
Current Liabilities | ||
Debt maturing within one year | 6,056 | 5,498 |
Accounts payable and accrued liabilities | 23,592 | 21,107 |
Advanced billings and customer deposits | 4,105 | 4,212 |
Accrued taxes | 1,091 | 1,774 |
Dividends payable | 2,438 | 2,404 |
Total current liabilities | 37,282 | 34,995 |
Long-Term Debt | 76,011 | 69,290 |
Deferred Credits and Other Noncurrent Liabilities | ||
Deferred income taxes | 37,544 | 36,308 |
Postemployment benefit obligation | 37,079 | 29,946 |
Other noncurrent liabilities | 17,989 | 15,766 |
Total deferred credits and other noncurrent liabilities | 92,612 | 82,020 |
Stockholders' Equity | ||
Common stock ($1 par value, 14,000,000,000 authorized at December 31, 2014 and 2013: issued 6,495,231,088 at December 31, 2014 and 2013) | 6,495 | 6,495 |
Additional paid-in capital | 91,108 | 91,091 |
Retained earnings | 27,736 | 31,141 |
Treasury stock (1,308,318,131 at December 31, 2014 and 1,268,914,913 at December 31, 2013, at cost) | -47,029 | -45,619 |
Accumulated other comprehensive income | 8,060 | 7,880 |
Noncontrolling interest | 554 | 494 |
Total stockholders' equity | 86,924 | 91,482 |
Total Liabilities and Stockholders' Equity | $292,829 | $277,787 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Millions, except Share data, unless otherwise specified | ||
Consolidated Balance Sheets | ||
Allowances for doubtful accounts | $454 | $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 | 1,308,318,131 | 1,268,914,913 |
Consolidated_Statements_Of_Cas
Consolidated Statements Of Cash Flows (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Operating Activities | |||
Net Income | $6,518 | $18,553 | $7,539 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Depreciation and amortization | 18,273 | 18,395 | 18,143 |
Undistributed earnings from investments in equity affiliates | -27 | -324 | -615 |
Provision for uncollectible accounts | 1,032 | 954 | 1,117 |
Deferred income tax expense | 1,772 | 6,242 | 1,747 |
Net gain from sale of investments, net of impairments | -1,532 | -492 | -19 |
Actuarial loss (gain) on pension and postretirement benefits | 7,869 | -7,584 | 9,994 |
Abandonment of network assets | 2,120 | 0 | 0 |
Changes in operating assets and liabilities: | |||
Accounts receivable | -2,651 | -1,329 | -1,365 |
Other current assets | -962 | 412 | 1,017 |
Accounts payable and accrued liabilities | 2,412 | -152 | 1,798 |
Retirement benefit funding | -560 | -209 | 0 |
Other - net | -2,926 | 330 | -180 |
Total adjustments | 24,820 | 16,243 | 31,637 |
Net Cash Provided by Operating Activities | 31,338 | 34,796 | 39,176 |
Investing Activities | |||
Capital expenditures | -21,199 | -20,944 | -19,465 |
Interest during construction | -234 | -284 | -263 |
Acquisitions, net of cash acquired | -3,141 | -4,113 | -828 |
Dispositions | 8,123 | 1,923 | 812 |
(Purchases) sales of securities, net | -1,890 | 0 | 65 |
Return of advances to and investments in equity affiliates | 4 | 301 | 0 |
Other | 0 | -7 | -1 |
Net Cash Used in Investing Activities | -18,337 | -23,124 | -19,680 |
Financing Activities | |||
Net change in short-term borrowings with original maturities of three months or less | -16 | 20 | 1 |
Issuance of other short-term borrowings | 0 | 1,476 | 0 |
Repayment of short-term borrowings | 0 | -1,476 | 0 |
Issuance of long-term debt | 15,926 | 12,040 | 13,486 |
Repayment of long-term debt | -10,400 | -7,698 | -8,733 |
Issuance of other long-term financing obligations | 107 | 4,796 | 0 |
Purchase of treasury stock | -1,617 | -13,028 | -12,752 |
Issuance of treasury stock | 39 | 114 | 477 |
Dividends paid | -9,552 | -9,696 | -10,241 |
Other | -2,224 | 251 | 89 |
Net Cash Used in Financing Activities | -7,737 | -13,201 | -17,673 |
Net increase (decrease) in cash and cash equivalents | 5,264 | -1,529 | 1,823 |
Cash and cash equivalents beginning of year | 3,339 | 4,868 | 3,045 |
Cash and Cash Equivalents End of Year | $8,603 | $3,339 | $4,868 |
Consolidated_Statements_Of_Cha
Consolidated Statements 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, 2011 | $105,797 | $6,495 | $91,156 | $25,453 | $20,750 | $3,180 | $263 |
Balance at beginning of year (in shares) at Dec. 31, 2011 | 6,495 | 568 | |||||
Issuance of shares - common stock (value) | 0 | ||||||
Issuance of shares - common stock (in shares) | 0 | ||||||
Repurchase of common stock | -12,752 | ||||||
Repurchase of common stock (in shares) | -371 | ||||||
Issuance of treasury stock | 120 | -614 | |||||
Issuance of treasury stock (in shares) | -25 | ||||||
Share-based payments | -78 | ||||||
Share of equity method investee capital transactions | -160 | ||||||
Change related to acquisition of interests held by noncontrolling owners | 0 | ||||||
Net income attributable to AT&T ($1.19, $3.39 and $1.25 per diluted share) | 7,264 | 7,264 | |||||
Dividends to stockholders ($1.85, $1.81 and $1.77 per share) | -10,236 | ||||||
Other comprehensive income attributable to AT&T | 2,056 | ||||||
Net income attributable to noncontrolling interest | 275 | 275 | |||||
Distributions | -205 | ||||||
Contributions | 0 | ||||||
Acquisitions of noncontrolling interests | 0 | ||||||
Acquisition of interests held by noncontrolling owners | 0 | ||||||
Translation adjustments attributable to noncontrolling interest, net of taxes | 0 | 0 | |||||
Balance at end of year at Dec. 31, 2012 | 92,695 | 6,495 | 91,038 | 22,481 | 32,888 | 5,236 | 333 |
Balance at end of year (in shares) at Dec. 31, 2012 | 6,495 | 914 | |||||
Issuance of shares - common stock (value) | 0 | ||||||
Issuance of shares - common stock (in shares) | 0 | ||||||
Repurchase of common stock | -13,028 | ||||||
Repurchase of common stock (in shares) | -366 | ||||||
Issuance of treasury stock | -8 | -297 | |||||
Issuance of treasury stock (in shares) | -11 | ||||||
Share-based payments | 62 | ||||||
Share of equity method investee capital transactions | 0 | ||||||
Change related to acquisition of interests held by noncontrolling owners | -1 | ||||||
Net income attributable to AT&T ($1.19, $3.39 and $1.25 per diluted share) | 18,249 | 18,249 | |||||
Dividends to stockholders ($1.85, $1.81 and $1.77 per share) | -9,589 | ||||||
Other comprehensive income attributable to AT&T | 2,644 | 2,644 | |||||
Net income attributable to noncontrolling interest | 304 | 304 | |||||
Distributions | -231 | ||||||
Contributions | 51 | ||||||
Acquisitions of noncontrolling interests | 44 | ||||||
Acquisition of interests held by noncontrolling owners | -5 | ||||||
Translation adjustments attributable to noncontrolling interest, net of taxes | 2 | -2 | |||||
Balance at end of year at Dec. 31, 2013 | 91,482 | 6,495 | 91,091 | 31,141 | 45,619 | 7,880 | 494 |
Balance at end of year (in shares) at Dec. 31, 2013 | 6,495 | 1,269 | |||||
Issuance of shares - common stock (value) | 0 | ||||||
Issuance of shares - common stock (in shares) | 0 | ||||||
Repurchase of common stock | -1,617 | ||||||
Repurchase of common stock (in shares) | -48 | ||||||
Issuance of treasury stock | 4 | -207 | |||||
Issuance of treasury stock (in shares) | -9 | ||||||
Share-based payments | 47 | ||||||
Share of equity method investee capital transactions | 0 | ||||||
Change related to acquisition of interests held by noncontrolling owners | -34 | ||||||
Net income attributable to AT&T ($1.19, $3.39 and $1.25 per diluted share) | 6,224 | 6,224 | |||||
Dividends to stockholders ($1.85, $1.81 and $1.77 per share) | -9,629 | ||||||
Other comprehensive income attributable to AT&T | 180 | 180 | |||||
Net income attributable to noncontrolling interest | 294 | 294 | |||||
Distributions | -233 | ||||||
Contributions | 0 | ||||||
Acquisitions of noncontrolling interests | 69 | ||||||
Acquisition of interests held by noncontrolling owners | -70 | ||||||
Translation adjustments attributable to noncontrolling interest, net of taxes | 0 | 0 | |||||
Balance at end of year at Dec. 31, 2014 | $86,924 | $6,495 | $91,108 | $27,736 | $47,029 | $8,060 | $554 |
Balance at end of year (in shares) at Dec. 31, 2014 | 6,495 | 1,308 |
Consolidated_Statements_Of_Cha1
Consolidated Statements Of Changes In Stockholders' Equity (Parenthetical) (USD $) | 3 Months Ended | 12 Months Ended | ||||||||||
Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Consolidated Statements Of Changes In Stockholders' Equity | ||||||||||||
Net income attributable to AT&T, per diluted share | ($0.77) | $0.58 | $0.68 | $0.70 | $1.31 | $0.72 | $0.71 | $0.67 | $1.19 | $3.39 | $1.25 | |
Dividends to stockholders, per share | $0.47 | $0.46 | $0.45 | $1.85 | $1.81 | $1.77 |
Summary_Of_Significant_Account
Summary Of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2014 | |
Summary Of Significant Accounting Policies | |
Summary Of Significant Accounting Policies | NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES |
Basis of Presentation Throughout this document, AT&T Inc. is referred to as “AT&T,” “we” or the “Company.” 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 less than majority-owned subsidiaries and partnerships where we have significant influence are accounted for under the equity method. Earnings from certain investments accounted for using the equity method are included for periods ended within up to one month of our year end (see Note 8). We also recorded 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. | |
New Accounting Standards In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update No. 2014-09, “Revenue from Contracts with Customers (Topic 606)” (ASU 2014-09), which replaces existing revenue recognition rules with a comprehensive revenue measurement and recognition standard and expanded disclosure requirements. Upon initial evaluation, we believe the key changes in the standard that impact our revenue recognition relate to the allocation of contract revenues between service and equipment, and the timing in which those revenues are recognized. ASU 2014-09 also specifies that all incremental costs of obtaining and direct costs of fulfilling our contracts with customers should be deferred and recognized over the contract period or expected customer life. Currently, we generally defer such costs only up to an amount equal to any related deferred revenue. ASU 2014-09 becomes effective for annual reporting periods beginning after December 15, 2016. | |
The FASB will allow two adoption methods under ASU 2014-09. Under one method, a company will apply the rules to contracts in all reporting periods presented, subject to certain allowable exceptions. Under the other method, a company will apply the rules to all contracts existing as of January 1, 2017, recognizing in beginning retained earnings an adjustment for the cumulative effect of the change and provide additional disclosures comparing results to previous rules. We continue to evaluate the impact of the new standard and available adoption methods. | |
Income Taxes We provide deferred income taxes for temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the computed tax basis of those assets and liabilities. We provide valuation allowances against the deferred tax assets for which the realization is uncertain. We review these items regularly in light of changes in federal and state tax laws and changes in our business. | |
Cash and Cash Equivalents Cash and cash equivalents include all highly liquid investments with original maturities of three months or less. The carrying amounts approximate fair value. At December 31, 2014, we held $1,257 in cash and $7,346 in money market funds and other cash equivalents. | |
Revenue Recognition Revenues derived from wireless, local telephone, long distance, data and video services are recognized when services are provided. This is based upon either usage (e.g., minutes of traffic/bytes of data processed), period of time (e.g., monthly service fees) or other established fee schedules. Our service revenues are billed either in advance, arrears or are prepaid. | |
We record revenue reductions for estimated future adjustments to customer accounts, other than bad debt expense, at the time revenue is recognized based on historical experience. Service revenues include billings to our customers for various regulatory fees imposed on us by governmental authorities. We report revenues from transactions between us and our customers net of taxes the government authorities require us to collect from our customers in our consolidated statements of income. Cash incentives given to customers are recorded as a reduction of revenue. Revenues and associated expenses related to nonrefundable, upfront service activation and setup fees are deferred and recognized over the associated service contract period or customer life. Generally, associated expenses are deferred only up to the amount of deferred revenue. Revenue recognized from contracts that bundle services and equipment is limited to the lesser of the amount allocated based on the relative selling price of the equipment and service already delivered or the amount paid and owed by the customer for the equipment and service already delivered. We record the sale of equipment to customers when we no longer have any requirements to perform, when title is passed and when the products are accepted by customers. We record the sale of equipment and services to customers as gross revenue when we are the principal in the arrangement and net of the associated costs incurred when we are not considered the principal in the arrangement. | |
We offer to our customers the option to purchase certain wireless devices in installments over a period of up to 30 months, with the right to trade in the original equipment for a new device, within a set period, and have the remaining unpaid balance satisfied. For customers that elect these trade-in programs, we recognize revenue for the entire amount of the customer receivable, net of the fair value of the trade-in right guarantee and imputed interest. See Note 16 for additional information, including the sales of our equipment installment receivables. | |
Allowance for Doubtful Accounts We record expense to maintain an allowance for doubtful accounts for estimated losses that result from the failure or inability of our customers to make required payments deemed collectable from the customer when the service was provided or product was delivered. When determining the allowance, we consider the probability of recoverability of accounts receivable based on past experience, taking into account current collection trends as well as general economic factors, including bankruptcy rates. Credit risks are assessed based on historical write-offs, net of recoveries, as well as an analysis of the aged accounts receivable balances with allowances generally increasing as the receivable ages. Accounts receivable may be fully reserved for when specific collection issues are known to exist, such as pending bankruptcy or catastrophes. | |
Inventory Inventories, which are included in “Other current assets” on our consolidated balance sheets, were $1,933 at December 31, 2014, and $1,148 at December 31, 2013. Wireless devices and accessories, which are valued at the lower of cost or market (determined using current replacement cost) were $1,858 at December 31, 2014, and $1,031 at December 31, 2013. | |
Property, Plant and Equipment Property, plant and equipment is stated at cost, except for assets acquired using acquisition accounting, which are initially recorded at fair value (see Note 6). The balance as of December 31, 2013, excluded amounts classified as held for sale (see Note 5). The cost of additions and substantial improvements to property, plant and equipment is capitalized, and includes internal compensation costs for these projects; however, noncash actuarial gains or losses included in compensation costs are excluded from amounts reported as “capital expenditures.” The cost of maintenance and repairs of property, plant and equipment is charged to operating expenses. Property, plant and equipment costs are depreciated using straight-line methods over their estimated economic lives. Certain subsidiaries follow composite group depreciation methodology. Accordingly, when a portion of their depreciable property, plant and equipment is retired in the ordinary course of business, the gross book value is reclassified to accumulated depreciation, and no gain or loss is recognized on the disposition of these assets. | |
Property, plant and equipment is reviewed for recoverability whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. We recognize an impairment loss when the carrying amount of a long-lived asset is not recoverable. The carrying amount of a long-lived asset is not recoverable if it exceeds the sum of the undiscounted cash flows expected to result from the use and eventual disposition of the asset. | |
The fair value of a liability for an asset retirement obligation is recorded in the period in which it is incurred if a reasonable estimate of fair value can be made. In periods subsequent to initial measurement, we recognize period-to-period changes in the liability resulting from the passage of time and revisions to either the timing or the amount of the original estimate. The increase in the carrying value of the associated long-lived asset is depreciated over the corresponding estimated economic life. | |
Software Costs It is our policy to capitalize certain costs incurred in connection with developing or obtaining internal-use software. Capitalized software costs are included in “Property, Plant and Equipment” on our consolidated balance sheets. In addition, there is certain network software that allows the equipment to provide the features and functions unique to the AT&T network, which we include in the cost of the equipment categories for financial reporting purposes. | |
During 2014, we completed studies evaluating the periods that we were utilizing our software assets. As of April 1 and July 1, 2014, we extended our estimated useful lives for capitalized non-network and network software, respectively, to five years to better reflect the estimated periods during which these assets will remain in service and to align with the estimated useful lives used in the industry. This change in accounting estimate decreased depreciation expense and impacted 2014 net income $513, or $0.10 per diluted share. Prior to 2014, capitalized software costs were primarily amortized over a three-year period. | |
Goodwill and Other Intangible Assets AT&T has four major classes of intangible assets: goodwill, Federal Communications Commission (FCC) licenses, other indefinite-lived intangible assets, made up predominately of the AT&T brand, and various other finite-lived intangible assets (see Note 7). | |
Goodwill represents the excess of consideration paid over the fair value of net assets acquired in business combinations. FCC licenses provide us with the exclusive right to utilize certain radio frequency spectrum to provide wireless communications services. While FCC licenses are issued for a fixed period of time (generally 10 years), renewals of FCC licenses have occurred routinely and at nominal cost. Moreover, we have determined that there are currently no legal, regulatory, contractual, competitive, economic or other factors that limit the useful lives of our FCC licenses. We acquired the rights to the AT&T and other brand names in previous acquisitions. We have the effective ability to retain these exclusive rights permanently at a nominal cost. | |
Goodwill, FCC licenses and other indefinite-lived intangible assets are not amortized but are tested at least annually for impairment. The testing is performed on the value as of October 1 each year, and compares the book value of the assets to their fair value. Goodwill is tested by comparing the book value of each reporting unit, deemed to be our principal operating segments (Wireless and Wireline), to the fair value of those reporting units calculated using a discounted cash flow approach as well as a market multiple approach. FCC licenses are tested for impairment on an aggregate basis, consistent with the management of the business on a national scope. We perform our test of the fair values of FCC licenses using a discounted cash flow approach. Brand names are tested by comparing the book value to a fair value calculated using a discounted cash flow approach on a presumed royalty rate derived from the revenues related to the brand name. | |
Intangible assets that have finite useful lives are amortized over their useful lives (see Note 7). Customer lists and relationships are amortized using primarily the sum-of-the-months-digits method of amortization over the period in which those relationships are expected to contribute to our future cash flows. The remaining finite-lived intangible assets are generally amortized using the straight-line method. | |
Advertising Costs We expense advertising costs for advertising products and services or for promoting our corporate image as we incur them (see Note 15). | |
Traffic Compensation Expense We use various estimates and assumptions to determine the amount of traffic compensation expense recognized during any reporting period. Switched traffic compensation costs are accrued utilizing estimated rates and volumes by product, formulated from historical data and adjusted for known rate changes. Such estimates are adjusted monthly to reflect newly available information, such as rate changes and new contractual agreements. Bills reflecting actual incurred information are generally not received within three months subsequent to the end of the reporting period, at which point a final adjustment is made to the accrued switched traffic compensation expense. Dedicated traffic compensation costs are estimated based on the number of circuits and the average projected circuit costs. | |
Foreign Currency Translation We are exposed to foreign currency exchange risk through our foreign affiliates and equity investments in foreign companies. Our foreign subsidiaries and foreign investments generally report their earnings in their local currencies. We translate our share of their foreign assets and liabilities at exchange rates in effect at the balance sheet dates. We translate our share of their revenues and expenses using average rates during the year. The resulting foreign currency translation adjustments are recorded as a separate component of accumulated other comprehensive income (accumulated OCI) in the accompanying consolidated balance sheets (see Note 3). We do not hedge foreign currency translation risk in the net assets and income we report from these sources. However, we do hedge a portion of the foreign currency exchange risk involved in anticipation of highly probable foreign currency-denominated transactions, which we explain further in our discussion of our methods of managing our foreign currency risk (see Note 10). | |
Pension and Other Postretirement Benefits See Note 12 for a comprehensive discussion of our pension and postretirement benefit expense, including a discussion of the actuarial assumptions, our policy for recognizing the associated gains and losses and our method used to estimate service and interest cost components. |
Earnings_Per_Share
Earnings Per Share | 12 Months Ended | |||||||||
Dec. 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 is shown in the table below: | ||||||||||
Year Ended December 31, | 2014 | 2013 | 2012 | |||||||
Numerators | ||||||||||
Numerator for basic earnings per share: | ||||||||||
Net income | $ | 6,518 | $ | 18,553 | $ | 7,539 | ||||
Less: Net income attributable to noncontrolling interest | -294 | -304 | -275 | |||||||
Net income attributable to AT&T | 6,224 | 18,249 | 7,264 | |||||||
Dilutive potential common shares: | ||||||||||
Share-based payment | 13 | 12 | 12 | |||||||
Numerator for diluted earnings per share | $ | 6,237 | $ | 18,261 | $ | 7,276 | ||||
Denominators (000,000) | ||||||||||
Denominator for basic earnings per share: | ||||||||||
Weighted-average number of common shares outstanding | 5,205 | 5,368 | 5,801 | |||||||
Dilutive potential common shares: | ||||||||||
Share-based payment (in shares) | 16 | 17 | 20 | |||||||
Denominator for diluted earnings per share | 5,221 | 5,385 | 5,821 | |||||||
Basic earnings per share attributable to AT&T | $ | 1.19 | $ | 3.39 | $ | 1.25 | ||||
Diluted earnings per share attributable to AT&T | $ | 1.19 | $ | 3.39 | $ | 1.25 |
Accumulated_Other_Comprehensiv
Accumulated Other Comprehensive Income | 12 Months Ended | |||||||||||||||
Dec. 31, 2014 | ||||||||||||||||
Accumulated Other Comprehensive Income [Abstract] | ||||||||||||||||
Accumulated Other Comprehensive Income | NOTE 3. OTHER COMPREHENSIVE INCOME | |||||||||||||||
Changes in the balances of each component included in accumulated OCI are presented below. For the year ended December 31, 2014, the amounts reclassified from accumulated OCI include amounts realized upon the sale of our investment in América Móvil, S.A. de C.V. (América Móvil) (see Note 5). All amounts are net of tax and exclude noncontrolling interest. | ||||||||||||||||
At December 31, 2014 and 2013 and for the years 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 (loss) before reclassifications | -138 | 257 | 525 | 2,765 | 3,409 | |||||||||||
Amounts reclassified from accumulated OCI | 55 | 1 | -79 | 2 | 30 | 3 | -771 | 4 | -765 | |||||||
Net other comprehensive income (loss) | -83 | 178 | 555 | 1,994 | 2,644 | |||||||||||
Balance as of December 31, 2013 | -367 | 450 | 445 | 7,352 | 7,880 | |||||||||||
Other comprehensive income (loss) before reclassifications | -75 | 64 | 260 | 428 | 677 | |||||||||||
Amounts reclassified from accumulated OCI | 416 | 1 | -16 | 2 | 36 | 3 | -933 | 4 | -497 | |||||||
Net other comprehensive income (loss) | 341 | 48 | 296 | -505 | 180 | |||||||||||
Balance as of December 31, 2014 | $ | -26 | $ | 498 | $ | 741 | $ | 6,847 | $ | 8,060 | ||||||
1 | Translation (gain) loss reclassifications are included in Other income (expense) - net in the consolidated statements of income. | |||||||||||||||
2 | (Gains) losses are included in Other income (expense) - net in the consolidated statements of income. | |||||||||||||||
3 | (Gains) losses are included in interest expense in the consolidated statements of income. See Note 10 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 12). 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 | 12 Months Ended | ||||||||||||||
Dec. 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 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. Our operating results prior to May 9, 2012, also included our sold Advertising Solutions segment (see Note 5). | |||||||||||||||
The Wireless segment uses our nationwide network to provide consumer and business customers with wireless data and voice communications services. This segment included our portion of the results from our equity investment in the SoftcardTM mobile wallet joint venture. | |||||||||||||||
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 (prior to the June 2014 disposal of our investment), YP Holdings LLC, and Otter Media (our joint venture with The Chernin Group), are also excluded from our segment results as those results are not considered in our assessment of segment performance. We have revised our prior-period presentation to conform to our current reporting. | |||||||||||||||
Segment Results, including a reconciliation to AT&T consolidated results, for 2014, 2013, and 2012 are as follows: | |||||||||||||||
At December 31, 2014 and for the year ended | Wireline | Advertising Solutions | Corporate and Other | Consolidated Results | |||||||||||
Wireless | |||||||||||||||
Service | $ | 61,032 | $ | 57,405 | $ | - | $ | - | $ | 118,437 | |||||
Equipment | 12,960 | 1,020 | - | 30 | 14,010 | ||||||||||
Total segment operating revenues | 73,992 | 58,425 | - | 30 | 132,447 | ||||||||||
Operations and support expenses | 48,924 | 42,471 | - | 11,033 | 102,428 | ||||||||||
Depreciation and amortization expenses | 7,941 | 10,323 | - | 9 | 18,273 | ||||||||||
Total segment operating expenses | 56,865 | 52,794 | - | 11,042 | 120,701 | ||||||||||
Segment operating income (loss) | 17,127 | 5,631 | - | -11,012 | 11,746 | ||||||||||
Interest expense | - | - | - | 3,613 | 3,613 | ||||||||||
Equity in net income (loss) of affiliates | -112 | - | - | 287 | 175 | ||||||||||
Other income (expense) – net | - | - | - | 1,652 | 1,652 | ||||||||||
Segment income (loss) before income taxes | $ | 17,015 | $ | 5,631 | $ | - | $ | -12,686 | $ | 9,960 | |||||
Segment Assets | $ | 156,317 | $ | 121,794 | $ | - | $ | 14,718 | $ | 292,829 | |||||
Investments in equity method affiliates | - | - | - | 250 | 250 | ||||||||||
Expenditures for additions to long-lived assets | 11,383 | 10,044 | - | 6 | 21,433 | ||||||||||
At December 31, 2013 and for the year ended | Advertising Solutions | Corporate and Other | Consolidated Results | ||||||||||||
Wireless | Wireline | ||||||||||||||
Service | $ | 61,552 | $ | 57,700 | $ | - | $ | - | $ | 119,252 | |||||
Equipment | 8,347 | 1,114 | - | 39 | 9,500 | ||||||||||
Total segment operating revenues | 69,899 | 58,814 | - | 39 | 128,752 | ||||||||||
Operations and support expenses | 44,508 | 41,638 | - | -6,268 | 79,878 | ||||||||||
Depreciation and amortization expenses | 7,468 | 10,907 | - | 20 | 18,395 | ||||||||||
Total segment operating expenses | 51,976 | 52,545 | - | -6,248 | 98,273 | ||||||||||
Segment operating income | 17,923 | 6,269 | - | 6,287 | 30,479 | ||||||||||
Interest expense | - | - | - | 3,940 | 3,940 | ||||||||||
Equity in net income (loss) of affiliates | -75 | 2 | - | 715 | 642 | ||||||||||
Other income (expense) – net | - | - | - | 596 | 596 | ||||||||||
Segment income before income taxes | $ | 17,848 | $ | 6,271 | $ | - | $ | 3,658 | $ | 27,777 | |||||
Segment Assets | $ | 141,196 | $ | 123,714 | $ | - | $ | 12,877 | $ | 277,787 | |||||
Investments in equity method affiliates | 61 | - | - | 3,799 | 3,860 | ||||||||||
Expenditures for additions to long-lived assets | 11,191 | 10,036 | - | 1 | 21,228 | ||||||||||
For the year ended December 31, 2012 | Advertising Solutions | Corporate and Other | Consolidated Results | ||||||||||||
Wireless | Wireline | ||||||||||||||
Service | $ | 59,186 | $ | 58,271 | $ | 1,049 | $ | - | $ | 118,506 | |||||
Equipment | 7,577 | 1,302 | - | 49 | 8,928 | ||||||||||
Total segment operating revenues | 66,763 | 59,573 | 1,049 | 49 | 127,434 | ||||||||||
Operations and support expenses | 43,296 | 41,207 | 773 | 11,018 | 96,294 | ||||||||||
Depreciation and amortization expenses | 6,873 | 11,123 | 106 | 41 | 18,143 | ||||||||||
Total segment operating expenses | 50,169 | 52,330 | 879 | 11,059 | 114,437 | ||||||||||
Segment operating income (loss) | 16,594 | 7,243 | 170 | -11,010 | 12,997 | ||||||||||
Interest expense | - | - | - | 3,444 | 3,444 | ||||||||||
Equity in net income (loss) of affiliates | -62 | -1 | - | 815 | 752 | ||||||||||
Other income (expense) – net | - | - | - | 134 | 134 | ||||||||||
Segment income (loss) before income taxes | $ | 16,532 | $ | 7,242 | $ | 170 | $ | -13,505 | $ | 10,439 |
Acquisitions_Dispositions_And_
Acquisitions, Dispositions And Other Adjustments | 12 Months Ended | ||
Dec. 31, 2014 | |||
Acquisitions, Dispositions And Other Adjustments | |||
Acquisitions, Dispositions And Other Adjustments | NOTE 5. ACQUISITIONS, DISPOSITIONS AND OTHER ADJUSTMENTS | ||
Acquisitions | |||
Spectrum Acquisitions During 2014, we acquired $1,263 of wireless spectrum, not including Leap Wireless International, Inc. (Leap) discussed below. During 2013, we acquired $895 of wireless spectrum from various companies, not including the 700 MHz, Atlantic Tele-Network Inc. (ATNI) and NextWave purchases discussed below. During 2012, we acquired $855 of wireless spectrum from various companies. | |||
In January 2015, we submitted winning bids for 251 Advanced Wireless Service (AWS) spectrum in the AWS-3 Auction (FCC Auction 97) for $18,189. We provided the FCC an initial down payment of $921 in October 2014 and paid the remaining down payment of $2,717 on February 13, 2015. We will pay the balance of $14,551 on or before March 2, 2015. | |||
Leap In March 2014, we acquired Leap, a provider of prepaid wireless service, for $15.00 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 FCC license held by Leap. | |||
The values of assets acquired under the terms of the agreement were: $3,000 in licenses, $510 in property, plant and equipment, $520 of customer lists, $340 for trade names and $248 of goodwill. The estimated fair value of debt associated with the acquisition of Leap was $3,889, all of which was redeemed or matured by July 31, 2014. | |||
700 MHz Spectrum In September 2013, we acquired spectrum in the 700 MHz B band from Verizon Wireless for $1,900 in cash and an assignment of AWS spectrum licenses in five markets. The 700 MHz licenses acquired by AT&T cover 42 million people in 18 states. We recognized a gain of approximately $293 on this and other spectrum transactions. | |||
Atlantic Tele-Network In September 2013, we acquired ATNI's U.S. retail wireless operations, operated under the Alltel brand, for $806 in cash, which included closing adjustments. Under the terms of the agreement, we acquired wireless properties, with a value of $322 in licenses and $296 of goodwill. | |||
NextWave In January 2013, we completed the acquisition of NextWave Wireless Inc. (NextWave), which held wireless licenses in the Wireless Communication Services and AWS bands. We acquired all the equity and purchased a portion of the debt of NextWave for $605. The transaction was accounted for as an asset acquisition of spectrum. | |||
Subsequent and Pending Acquisitions | |||
GSF Telecom On January 16, 2015, we acquired Mexican wireless company GSF Telecom Holdings, S.A.P.I. de C.V. (GSF Telecom) for $2,500, less net debt of approximately $700. GSF Telecom offers service under both the Iusacell and Unefon brand names in Mexico. | |||
NII Holdings Inc. On January 26, 2015, we entered into an agreement with NII Holdings Inc. (NII) to acquire its wireless business in Mexico for $1,875, less any outstanding net debt held by the business at closing, in a transaction pursuant to Section 363 of the U.S. Bankruptcy Code. We will acquire companies, which operate under the name Nextel Mexico, and approximately 3.0 million subscribers. | |||
DIRECTV In May 2014, we announced a merger agreement to acquire DIRECTV in a stock-and-cash transaction for $95.00 per share of DIRECTV's common stock, or approximately $48,500 at the date of announcement. As of December 31, 2014, DIRECTV had approximately $16,177 in net debt. Each DIRECTV shareholder will receive cash of $28.50 per share and $66.50 per share in our stock subject to a collar such that DIRECTV shareholders will receive 1.905 AT&T shares if our average stock price is below $34.90 per share at closing and 1.724 AT&T shares if our average stock price is above $38.58 at closing. If our average stock price (calculated in accordance with the merger agreement with DIRECTV) is between $34.90 and $38.58 at closing, then DIRECTV shareholders will receive a number of shares between 1.724 and 1.905, equal to $66.50 in value. DIRECTV is a premier pay TV provider in the United States and Latin America, with a high-quality customer base, the best selection of programming, the best technology for delivering and viewing high-quality video on any device and the best customer satisfaction among major U.S. cable and satellite TV providers. | |||
The merger agreement was adopted by DIRECTV's stockholders on September 25, 2014 and remains subject to review by the FCC and the Department of Justice and to other closing conditions. It is also a condition that all necessary consents by certain foreign governmental entities have been obtained and are in full force and effect. The transaction is expected to close in the first half of 2015. The merger agreement provides certain mutual termination rights for us and DIRECTV, including the right of either party to terminate the agreement if the merger is not consummated by May 18, 2015, subject to extension in certain cases to a date no later than November 13, 2015. Either party may also terminate the agreement if an order permanently restraining, enjoining, or otherwise prohibiting consummation of the merger becomes final and nonappealable. In October 2014, DIRECTV and the National Football League renewed their agreement for the “NFL Sunday Ticket” service substantially on the terms discussed between AT&T and DIRECTV, satisfying one of the conditions to closing the merger. Under certain circumstances relating to a competing transaction, DIRECTV may be required to pay a termination fee to us in connection with or following a termination of the agreement. | |||
Dispositions | |||
Connecticut Wireline On October 24, 2014, we sold our incumbent local exchange operations in Connecticut for $2,018 and recorded a pre-tax gain of $147, which is included in “Other income (expense) – net,” on our consolidated statements of income. In conjunction with the sale, we allocated $743 of goodwill from our Wireline reporting unit. Because the book value of the goodwill did not have a corresponding tax basis, the resulting net income impact of the sale was a loss of $289. | |||
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 at December 31, 2013. However, the business did 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 as of December 31, 2013: | |||
Assets held for sale: | |||
Current assets | $ | 155 | |
Property, plant and equipment - net | 1,289 | ||
Goodwill | 799 | ||
Other assets | 17 | ||
Total assets | $ | 2,260 | |
Liabilities related to assets held for sale: | |||
Current liabilities | $ | 128 | |
Noncurrent liabilities | 480 | ||
Total liabilities | $ | 608 | |
América Móvil In 2014, we sold our remaining stake in América Móvil for approximately $5,885 and recorded a pre-tax gain of $1,330, which is included in “Other income (expense) – net,” on our consolidated statements of income. In 2013, we sold a portion of our shares in América Móvil for approximately $1,179. América Móvil was accounted for as an equity method investment (see Note 8). | |||
Advertising Solutions In May 2012, we completed the sale of our Advertising Solutions segment to an affiliate of Cerberus Capital Management, L.P. for approximately $740 in cash after closing adjustments, a $200 advance, which was repaid in 2013, and a 47 percent equity interest in the new entity, YP Holdings. Our operating results include the results of the Advertising Solutions segment through May 8, 2012. | |||
Property_Plant_And_Equipment
Property, Plant And Equipment | 12 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
Property, Plant And Equipment | ||||||||
Property, Plant And Equipment | NOTE 6. PROPERTY, PLANT AND EQUIPMENT | |||||||
Property, plant and equipment is summarized as follows at December 31: | ||||||||
Lives (years) | 2014 | 2013 | ||||||
Land | - | $ | 1,567 | $ | 1,523 | |||
Buildings and improvements | Oct-44 | 32,204 | 31,485 | |||||
Central office equipment1 | 10-Mar | 89,857 | 86,370 | |||||
Cable, wiring and conduit | 15-50 | 72,766 | 76,107 | |||||
Other equipment | 15-Mar | 74,244 | 67,887 | |||||
Software | Mar-52 | 8,604 | 8,150 | |||||
Under construction | - | 3,053 | 3,276 | |||||
282,295 | 274,798 | |||||||
Accumulated depreciation and amortization | 169,397 | 163,830 | ||||||
Property, plant and equipment - net | $ | 112,898 | $ | 110,968 | ||||
1 | Includes certain network software. | |||||||
2 | Reflects extended estimated useful life (see Note 1). | |||||||
Our depreciation expense was $17,773 in 2014, $17,722 in 2013 and $16,933 in 2012. Depreciation expense included amortization of software totaling $1,504 in 2014, $2,142 in 2013 and $2,130 in 2012. | ||||||||
We periodically assess our network assets for impairment, and our analysis in 2014 indicated no impairment. However, due to declining customer demand for our legacy voice and data products and the migration of our networks to next generation technologies, we decided in the fourth quarter of 2014 to abandon in place specific copper network assets classified as cable, wiring and conduit. These abandoned assets had a gross book value of approximately $7,141, with accumulated depreciation of $5,021. We recorded a $2,120 noncash charge for this abandonment, which is included in “Abandonment of network assets” on our consolidated statements of income. | ||||||||
Certain facilities and equipment used in operations are leased under operating or capital leases. Rental expenses under operating leases were $4,345 for 2014, $3,683 for 2013, and $3,507 for 2012. At December 31, 2014, the future minimum rental payments under noncancelable operating leases for the years 2015 through 2019 were $3,879, $3,641, $3,290, $2,981, and $2,713, with $14,543 due thereafter. Certain real estate operating leases contain renewal options that may be exercised. Capital leases are not significant. |
Goodwill_And_Other_Intangible_
Goodwill And Other Intangible Assets | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Goodwill And Other Intangible Assets | |||||||||||||
Goodwill And Other Intangible Assets | NOTE 7. GOODWILL AND OTHER INTANGIBLE ASSETS | ||||||||||||
Changes in the carrying amounts of goodwill, by segment (which is the same as the reporting unit for Wireless and Wireline) were as follows: | |||||||||||||
Wireless | Wireline | Total | |||||||||||
Balance as of January 1, 2013 | $ | 35,803 | $ | 33,970 | $ | 69,773 | |||||||
Goodwill acquired | 305 | - | 305 | ||||||||||
Held for sale | - | -799 | -799 | ||||||||||
Other | -2 | -4 | -6 | ||||||||||
Balance as of December 31, 2013 | 36,106 | 33,167 | 69,273 | ||||||||||
Goodwill acquired | 367 | - | 367 | ||||||||||
Other | -4 | 56 | 52 | ||||||||||
Balance as of December 31, 2014 | $ | 36,469 | $ | 33,223 | $ | 69,692 | |||||||
The majority of our goodwill acquired during 2014 related to our acquisition of Leap (see Note 5). Other changes to our goodwill during 2014 include adjustments related to closing the sale of our Connecticut operations (see Note 5). Changes to goodwill during 2013 resulted from the acquisition of ATNI and the held for sale adjustment to goodwill in conjunction with the sale of our Connecticut operations (see Note 5). | |||||||||||||
Our other intangible assets are summarized as follows: | |||||||||||||
31-Dec-14 | 31-Dec-13 | ||||||||||||
Other Intangible Assets | Gross Carrying Amount | Accumulated Amortization | Gross Carrying Amount | Accumulated Amortization | |||||||||
Amortized intangible assets: | |||||||||||||
Customer lists and relationships: | |||||||||||||
Wireless Acquisitions | $ | 1,082 | $ | 550 | $ | 982 | $ | 771 | |||||
BellSouth Corporation | 5,825 | 5,559 | 5,825 | 5,317 | |||||||||
AT&T Corp. | 56 | 42 | 2,482 | 2,438 | |||||||||
Subtotal | 6,963 | 6,151 | 9,289 | 8,526 | |||||||||
Other | 275 | 189 | 284 | 169 | |||||||||
Total | $ | 7,238 | $ | 6,340 | $ | 9,573 | $ | 8,695 | |||||
Indefinite-lived intangible assets not subject to amortization: | |||||||||||||
Licenses | $ | 60,824 | $ | 56,433 | |||||||||
Trade names | 5,241 | 4,901 | |||||||||||
Total | $ | 66,065 | $ | 61,334 | |||||||||
As discussed in Note 5, license additions in 2014 were primarily related to the Leap acquisition, with the remainder originating from various spectrum license purchases. | |||||||||||||
Amortized intangible assets are definite-life assets, and as such, we record amortization expense based on a method that most appropriately reflects our expected cash flows from these assets, over a weighted-average of 9.8 years (9.7 years for customer lists and relationships and 12.1 years for other). Amortization expense for definite-life intangible assets was $500 for the year ended December 31, 2014, $672 for the year ended December 31, 2013, and $1,210 for the year ended December 31, 2012. Amortization expense is estimated to be $350 in 2015, $244 in 2016, $177 in 2017, $57 in 2018, and $28 in 2019. | |||||||||||||
In 2014, we wrote off approximately $2,850 of fully amortized intangible assets (primarily customer lists). In 2013, we wrote off approximately $6,217 of fully amortized intangible assets (primarily customer lists). We review other amortizing intangible assets for impairment whenever events or circumstances indicate that the carrying amount may not be recoverable over the remaining life of the asset or asset group. | |||||||||||||
We review indefinite-lived intangible assets for impairment annually (see Note 1). Licenses include wireless FCC licenses that provide us with the exclusive right to utilize certain radio frequency spectrum to provide wireless communications services. |
Equity_Method_Investments
Equity Method Investments | 12 Months Ended | |||||
Dec. 31, 2014 | ||||||
Equity Method Investments | ||||||
Equity Method Investments | NOTE 8. EQUITY METHOD INVESTMENTS | |||||
Investments in partnerships, joint ventures and less than majority-owned subsidiaries in which we have significant influence are accounted for under the equity method. | ||||||
Our investments in equity affiliates at December 31, 2014 primarily include our interests in Otter Media Holdings, YP Holdings and Root Sports Southwest. | ||||||
Otter Media Holdings We hold a 38% interest in Otter Media Holdings, which was acquired in 2014 and is a venture between The Chernin Group and AT&T, which is focused on acquiring, investing in and launching over-the-top subscription video services. | ||||||
YP Holdings We hold a 47% interest in YP Holdings, an online advertising company and directory publisher. During 2013, we received $200 from the repayment of advances to YP Holdings and $101 from the return of investment in YP Holdings. | ||||||
Root Sports Southwest We hold a 40% interest in Root Sports Southwest, which was acquired in 2014 and is part of regional sports networks owned and operated by DIRECTV Sports Networks LLC. | ||||||
América Móvil We sold our remaining stake in América Móvil in June 2014 (see Note 5). | ||||||
The following table is a reconciliation of our investments in equity affiliates as presented on our consolidated balance sheets: | ||||||
2014 | 2013 | |||||
Beginning of year | $ | 3,860 | $ | 4,581 | ||
Additional investments | 226 | 111 | ||||
Equity in net income of affiliates | 175 | 642 | ||||
Dividends and distributions received | -148 | -318 | ||||
Currency translation adjustments | - | 61 | ||||
Sale of América Móvil shares | -3,817 | -781 | ||||
Return of advances to and investments in YP Holdings | - | -301 | ||||
América Móvil equity adjustments | - | -124 | ||||
Other adjustments | -46 | -11 | ||||
End of year | $ | 250 | $ | 3,860 | ||
Undistributed earnings from equity affiliates were $88 and $3,346 at December 31, 2014 and 2013. |
Debt
Debt | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||
Debt | ||||||||||||||||||||
Debt | NOTE 9. DEBT | |||||||||||||||||||
Long-term debt of AT&T and its subsidiaries, including interest rates and maturities, is summarized as follows at December 31: | ||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||
Notes and debentures | ||||||||||||||||||||
Interest Rates | Maturities1 | |||||||||||||||||||
0.60% – 2.99% | 2015 – 2022 | $ | 22,127 | $ | 18,774 | |||||||||||||||
3.00% – 4.99% | 2014 – 2045 | 31,516 | 22,327 | |||||||||||||||||
5.00% – 6.99% | 2014 – 2095 | 23,260 | 28,513 | |||||||||||||||||
7.00% – 9.10% | 2014 – 2097 | 6,153 | 6,268 | |||||||||||||||||
Other | - | 1 | ||||||||||||||||||
Fair value of interest rate swaps recorded in debt | 125 | 154 | ||||||||||||||||||
83,181 | 76,037 | |||||||||||||||||||
Unamortized (discount) premium - net | -1,549 | -1,553 | ||||||||||||||||||
Total notes and debentures | 81,632 | 74,484 | ||||||||||||||||||
Capitalized leases | 430 | 283 | ||||||||||||||||||
Total long-term debt, including current maturities | 82,062 | 74,767 | ||||||||||||||||||
Current maturities of long-term debt | -6,051 | -5,477 | ||||||||||||||||||
Total long-term debt | $ | 76,011 | $ | 69,290 | ||||||||||||||||
1 | Maturities assume putable debt is redeemed by the holders at the next opportunity. | |||||||||||||||||||
We had outstanding Euro, British pound sterling, Canadian dollar and Swiss Franc denominated debt of approximately $24,655 and $18,146 at December 31, 2014 and 2013. The weighted-average interest rate of our entire long-term debt portfolio, including the impact of derivatives, decreased from 4.4% at December 31, 2013 to 4.2% at December 31, 2014. | ||||||||||||||||||||
Current maturities of long-term debt include debt that may be put back to us by the holders in 2015. We have $1,000 of annual put reset securities that may be put each April until maturity in 2021. If the holders do not require us to repurchase the securities, the interest rate will be reset based on current market conditions. Likewise, we have an accreting zero-coupon note that may be redeemed each May, until maturity in 2022. If the zero-coupon note (issued for principal of $500 in 2007) is held to maturity, the redemption amount will be $1,030. | ||||||||||||||||||||
Debt maturing within one year consisted of the following at December 31: | ||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||
Current maturities of long-term debt | $ | 6,051 | $ | 5,477 | ||||||||||||||||
Commercial paper | - | 20 | ||||||||||||||||||
Bank borrowings1 | 5 | 1 | ||||||||||||||||||
Total | $ | 6,056 | $ | 5,498 | ||||||||||||||||
1 | Outstanding balance of short-term credit facility of a foreign subsidiary. | |||||||||||||||||||
Debt Refinancing | ||||||||||||||||||||
During 2014, we received net proceeds of $15,926 from the issuance of $16,013 in long-term debt in various markets, with an average weighted maturity of approximately 13 years and a weighted average coupon of 2.4%. We redeemed $10,400 in borrowings of various notes with stated rates of 0.875% to 7.75%. | ||||||||||||||||||||
On January 29, 2015, we issued $2,619 of 4.600% global notes due 2045. | ||||||||||||||||||||
As of December 31, 2014 and 2013, we were in compliance with all covenants and conditions of instruments governing our debt. Substantially all of our outstanding long-term debt is unsecured. Maturities of outstanding long-term notes and debentures, as of December 31, 2014, and the corresponding weighted-average interest rate scheduled for repayment are as follows: | ||||||||||||||||||||
2015 | 2016 | 2017 | 2018 | 2019 | Thereafter | |||||||||||||||
Debt repayments1 | $ | 6,482 | $ | 5,523 | $ | 6,508 | $ | 5,800 | $ | 6,348 | $ | 54,205 | ||||||||
Weighted-average interest rate | 4 | % | 2.1 | % | 2.4 | % | 4.6 | % | 3.7 | % | 4.9 | % | ||||||||
1 | Debt repayments assume putable debt is redeemed by the holders at the next opportunity. | |||||||||||||||||||
Credit Facilities | ||||||||||||||||||||
We have a $5,000 revolving credit agreement with a syndicate of banks that expires in December 2018 (the “December 2018 Facility”) and a $3,000 revolving credit agreement with a syndicate of banks that expires in December 2017 (the “December 2017 Facility”). In addition, on January 21, 2015, we entered into a $9,155 credit agreement (the “Syndicated Credit Agreement”) containing (i) a $6,286 term loan facility (the “Tranche A Facility”) and (ii) a $2,869 term loan facility (the “Tranche B Facility”), with certain investment and commercial banks and Mizuho Bank, Ltd. (“Mizuho”), as administrative agent. On that date, AT&T also entered into a $2,000 18-month credit agreement (the “18-Month Credit Agreement”) with Mizuho as initial lender and agent. | ||||||||||||||||||||
Revolving Credit Agreements | ||||||||||||||||||||
In the event advances are made under either the December 2018 Facility or the December 2017 Facility, those advances would be used for general corporate purposes. Advances are not conditioned on the absence of a material adverse change. All advances must be repaid no later than the date on which lenders are no longer obligated to make any advances under each agreement. Under each agreement, we can terminate, in whole or in part, amounts committed by the lenders in excess of any outstanding advances; however, we cannot reinstate any such terminated commitments. At December 31, 2014, we had no advances outstanding under either agreement and were in compliance with all covenants under each agreement. | ||||||||||||||||||||
Advances under both agreements would bear interest, at AT&T's option, either: | ||||||||||||||||||||
at a variable annual rate equal to (1) the highest of: (a) the base (or prime) rate of the bank affiliate of Citibank, N.A. which is serving as administrative agent under the Agreement, (b) 0.50% per annum above the Federal funds rate, and (c) the London Interbank Offered Rate (LIBOR) applicable to U.S. dollars for a period of one month plus 1.00% per annum, plus (2) an applicable margin, as set forth in the Agreement (Applicable Margin; each such advance, a Base Rate Advance); or | ||||||||||||||||||||
at a rate equal to: (i) the LIBOR for a period of one, two, three or six months, as applicable, plus (ii) the Applicable Margin (each such advance, a Eurodollar Rate Advance). | ||||||||||||||||||||
The Applicable Margin for a Eurodollar Rate Advance under both agreements will equal 0.565%, 0.680%, or 0.910% per annum, depending on AT&T's credit rating. The Applicable Margin for a Base Rate Advance under both agreements will be 0%. | ||||||||||||||||||||
Under each agreement, AT&T will pay a facility fee of 0.060%, 0.070% or 0.090% per annum, depending on AT&T's credit rating, of the amount of lender commitments. | ||||||||||||||||||||
Both agreements contain covenants that are customary for an issuer with an investment grade senior debt credit rating. Among other covenants, both agreements provide that AT&T will maintain, as of the last day of each fiscal quarter, a debt-to-EBITDA (earnings before interest, income taxes, depreciation and amortization, and other modifications described in the agreements) ratio of not more than 3-to-1, for the four quarters then ended. | ||||||||||||||||||||
Events of default under both agreements are customary for facilities of this nature and result in the acceleration or permit the lenders to accelerate, as applicable, required repayment and would increase the Applicable Margin by 2.00% per annum. | ||||||||||||||||||||
The obligations of the lenders under the December 2017 Facility to provide advances will terminate on December 11, 2017, unless prior to that date either: (i) AT&T, and if applicable, a Co-Borrower, reduce to $0 the commitments of the lenders, or (ii) certain events of default occur. We and lenders representing more than 50% of the facility amount may agree to extend their commitments for two one-year periods beyond the December 11, 2017, termination date, under certain circumstances. We also can request the lenders to further increase their commitments (i.e., raise the available credit) up to an additional $2,000 provided no event of default has occurred. The same provisions apply to the December 2018 Facility except that the applicable date is December 11, 2018. | ||||||||||||||||||||
The Syndicated Credit Agreement | ||||||||||||||||||||
In the event advances are made under the Syndicated Credit Agreement, those advances would be used for general corporate purposes, including acquisition related payments. Amounts borrowed under the Tranche A Facility will be due and payable on the third anniversary of funding. Amounts borrowed under the Tranche B Facility will be subject to amortization from the third anniversary of funding, with twenty-five percent of the aggregate principal amount thereof being payable prior to the fifth anniversary thereof, and all remaining principal amount due and payable on such fifth anniversary. The obligations of the lenders under the Syndicated Credit Agreement to provide advances extend from the effective date of the agreement to a termination date of March 21, 2015, unless prior to that date either: (i) AT&T reduces to $0 the commitments of the lenders under the Syndicated Credit Agreement or (ii) certain events of default occur. | ||||||||||||||||||||
Advances would bear interest, at AT&T's option, either: | ||||||||||||||||||||
at a variable annual rate equal to: (1) the highest of (a) Mizuho's publicly-announced prime rate, (b) 0.50% per annum above the Federal funds rate, and (c) the ICE Benchmark Administration Limited Settlement Rate applicable to dollars for a period of one month plus 1.00%, plus (2) an applicable margin, as set forth in the Syndicated Credit Agreement (Applicable Margin) (each such Advance, a Base Rate Advance); or | ||||||||||||||||||||
at a rate equal to: (i) the LIBOR for deposits in dollars (adjusted upwards to reflect any bank reserve costs) for a period of three or six months, as applicable, plus (ii) the Applicable Margin (each such Advance, a Eurodollar Rate Advance). | ||||||||||||||||||||
The Applicable Margin for a Eurodollar Rate Advance under the Tranche A Facility will equal 1.000%, 1.125% or 1.250% per annum depending on AT&T's credit rating. The Applicable Margin for a Base Rate Advance under the Tranche A Facility will be equal to the relevant Applicable Margin for a Eurodollar Rate Advance under the Tranche A Facility minus 1.00%. | ||||||||||||||||||||
The Applicable Margin for a Eurodollar Rate Advance under the Tranche B Facility will equal 1.125%, 1.250% or 1.375% per annum, depending on AT&T's credit rating. The Applicable Margin for a Base Rate Advance under the Tranche B Facility will be equal to the relevant Applicable Margin for a Eurodollar Rate Advance under the Tranche B Facility minus 1.00%. | ||||||||||||||||||||
The Syndicated Credit Agreement contains covenants that are customary for an issuer with an investment grade senior debt credit rating. Among other things, the Syndicated Credit Agreement requires us to maintain a debt-to-EBITDA (earnings before interest, income taxes, depreciation and amortization, and other modifications described in the Syndicated Credit Agreement) ratio of not more than 3-to-1, as of the last day of each fiscal quarter. | ||||||||||||||||||||
Events of default are customary for an agreement of this nature and result in the acceleration or permit the lenders to accelerate, as applicable, required payment and which would increase the Applicable Margin by 2.00% per annum. | ||||||||||||||||||||
The 18-Month Credit Agreement | ||||||||||||||||||||
As with the Syndicated Credit Agreement, advances under the 18-Month Credit Agreement would be used for general corporate purposes, including acquisition related payments. Amounts borrowed under the 18-Month Credit Agreement will be due and payable on the date that is 18 months after the funding. The obligations of the lender under the 18-Month Credit Agreement to provide advances extend from the effective date of the agreement to a termination date of March 21, 2015, unless prior to that date either: (i) AT&T reduces to $0 the commitment of the lender under the 18-Month Credit Agreement or (ii) certain events of default occur. | ||||||||||||||||||||
Advances would bear interest, at AT&T's option, either: | ||||||||||||||||||||
at a variable annual rate equal to: (1) the highest of (a) Mizuho's publicly-announced prime rate, (b) 0.50% per annum above the Federal funds rate, and (c) the ICE Benchmark Administration Limited Settlement Rate applicable to dollars for a period of one month plus 1.00%, plus (2) an applicable margin, as set forth in the 18-Month Credit Agreement (Applicable Margin) (each such Advance, a Base Rate Advance); or | ||||||||||||||||||||
at a rate equal to: (i) the LIBOR for deposits in dollars (adjusted upwards to reflect any bank reserve costs) for a period of one, two, three or six months, as applicable, plus (ii) the Applicable Margin (each such Advance, a Eurodollar Rate Advance). | ||||||||||||||||||||
The Applicable Margin for a Eurodollar Rate Advance under the 18-Month Credit Agreement will equal 0.800%, 0.900% or 1.000% per annum, depending on AT&T's credit rating. The Applicable Margin for a Base Rate Advance under the 18-Month Credit Agreement will be 0%. | ||||||||||||||||||||
In the event that AT&T's unsecured senior long-term debt ratings are split by S&P, Moody's and Fitch, then the Applicable Margin will be determined by the highest rating, unless the lowest of such ratings is more than one level below the highest of such ratings, in which case the pricing will be the rating that is one level above the lowest of such ratings. | ||||||||||||||||||||
The 18-Month Credit Agreement contains affirmative and negative covenants and events of default equivalent to those contained in the Syndicated Credit Agreement. | ||||||||||||||||||||
Fair_Value_Measurements_And_Di
Fair Value Measurements And Disclosure | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Fair Value Measurements And Disclosure | |||||||||||||
Fair Value Measurements And Disclosure | NOTE 10. 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-Dec-14 | 31-Dec-13 | ||||||||||||
Carrying | Fair | Carrying | Fair | ||||||||||
Amount | Value | Amount | Value | ||||||||||
Notes and debentures | $ | 81,632 | $ | 90,367 | $ | 74,484 | $ | 79,309 | |||||
Commercial paper | - | - | 20 | 20 | |||||||||
Bank borrowings | 5 | 5 | 1 | 1 | |||||||||
Investment securities | 2,735 | 2,735 | 2,450 | 2,450 | |||||||||
The carrying value of debt with an original maturity of less than one year approximates fair 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. | |||||||||||||
Following is the fair value leveling for available-for-sale securities and derivatives as of December 31, 2014, and December 31, 2013: | |||||||||||||
31-Dec-14 | |||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||
Available-for-Sale Securities | |||||||||||||
Domestic equities | $ | 1,160 | $ | - | $ | - | $ | 1,160 | |||||
International equities | 553 | - | - | 553 | |||||||||
Fixed income bonds | - | 836 | - | 836 | |||||||||
Asset Derivatives1 | |||||||||||||
Interest rate swaps | - | 157 | - | 157 | |||||||||
Cross-currency swaps | - | 1,243 | - | 1,243 | |||||||||
Interest rate locks | - | 5 | - | 5 | |||||||||
Liability Derivatives1 | |||||||||||||
Cross-currency swaps | - | -1,506 | - | -1,506 | |||||||||
Interest rate locks | - | -133 | - | -133 | |||||||||
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" in our consolidated balance sheets. | |||||||||||||
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 $102 have maturities of less than one year, $417 within one to three years, $75 within three to five years, and $242 for five or more years. | |||||||||||||
Our cash equivalents (money market securities), short-term investments (certificate and time deposits) and customer deposits are recorded at amortized cost, and the respective carrying amounts approximate fair values. Our short-term investments of $1,890 are recorded in “Other current assets” and our investment securities are recorded in “Other Assets” on the consolidated balance sheets. | |||||||||||||
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 years ended December 31, 2014, and December 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, Canadian dollar and Swiss Franc 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 or floating 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 (expense) – net” in the consolidated statements of income in each period. We evaluate the effectiveness of our cross-currency swaps each quarter. In the years ended December 31, 2014, and December 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. In the years ended December 31, 2014, and December 31, 2013, no ineffectiveness was measured on interest rate locks. Over the next 12 months, we expect to reclassify $39 from accumulated OCI to interest expense due to the amortization of net losses on historical interest rate locks. Our unutilized interest rate locks carry mandatory early terminations, the latest occurring in the first half of 2015. | |||||||||||||
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) – net” in the consolidated statements of income. In the years ended December 31, 2014, and December 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 December 31, 2014, we had posted collateral of $530 (a deposit asset) and held collateral of $599 (a receipt liability). Under the agreements, if our credit rating had been downgraded one rating level by Moody's Investor Service and Standard & Poor's Rating Services and two rating levels by Fitch Ratings, before the final collateral exchange in December, we would have been required to post additional collateral of $91. 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 at December 31: | |||||||||||||
2014 | 2013 | ||||||||||||
Interest rate swaps | $ | 6,550 | $ | 4,750 | |||||||||
Cross-currency swaps | 26,505 | 17,787 | |||||||||||
Interest rate locks | 6,750 | - | |||||||||||
Total | $ | 39,805 | $ | 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 | |||||||||||||
For the years ended December 31, | 2014 | 2013 | 2012 | ||||||||||
Interest rate swaps (Interest expense): | |||||||||||||
Gain (Loss) on interest rate swaps | $ | -29 | $ | -113 | $ | -179 | |||||||
Gain (Loss) on long-term debt | 29 | 113 | 179 | ||||||||||
In addition, the net swap settlements that accrued and settled in the periods above were offset against interest expense. | |||||||||||||
Cash Flow Hedging Relationships | |||||||||||||
For the year ended December 31, | 2014 | 2013 | 2012 | ||||||||||
Cross-currency swaps: | |||||||||||||
Gain (Loss) recognized in accumulated OCI | $ | 528 | $ | 813 | $ | 432 | |||||||
Interest rate locks: | |||||||||||||
Gain (Loss) recognized in accumulated OCI | -128 | - | - | ||||||||||
Interest income (expense) reclassified from accumulated OCI into income | -44 | -46 | -43 | ||||||||||
Foreign exchange contracts: | |||||||||||||
Gain (Loss) recognized in accumulated OCI | - | -2 | 5 |
Income_Taxes
Income Taxes | 12 Months Ended | |||||||||
Dec. 31, 2014 | ||||||||||
Income Taxes | ||||||||||
Income Taxes | NOTE 11. INCOME TAXES | |||||||||
Significant components of our deferred tax liabilities (assets) are as follows at December 31: | ||||||||||
2014 | 2013 | |||||||||
Depreciation and amortization | $ | 47,082 | $ | 43,623 | ||||||
Intangibles (nonamortizable) | 1,874 | 1,874 | ||||||||
Employee benefits | -11,679 | -9,072 | ||||||||
Net operating loss and other carryforwards | -2,126 | -2,272 | ||||||||
Other – net | 69 | 29 | ||||||||
Subtotal | 35,220 | 34,182 | ||||||||
Deferred tax assets valuation allowance | 1,182 | 927 | ||||||||
Net deferred tax liabilities | $ | 36,402 | $ | 35,109 | ||||||
Net long-term deferred tax liabilities | $ | 37,544 | $ | 36,308 | ||||||
Less: Net current deferred tax assets | -1,142 | -1,199 | ||||||||
Net deferred tax liabilities | $ | 36,402 | $ | 35,109 | ||||||
At December 31, 2014, we had combined net operating and capital loss carryforwards (tax effected) for federal income tax purposes of $222 and for state and foreign income tax purposes of $959, expiring through 2033. Additionally, we had state credit carryforwards of $945, expiring primarily through 2033. | ||||||||||
We recognize a valuation allowance if, based on the weight of available evidence, it is more likely than not that some portion, or all, of a deferred tax asset will not be realized. Our valuation allowances at December 31, 2014 and 2013, related primarily to state net operating losses and state credit carryforwards. | ||||||||||
We recognize the financial statement effects of a tax return position when it is more likely than not, based on the technical merits, that the position will ultimately be sustained. For tax positions that meet this recognition threshold, we apply our judgment, taking into account applicable tax laws, our experience in managing tax audits and relevant GAAP, to determine the amount of tax benefits to recognize in our financial statements. For each position, the difference between the benefit realized on our tax return and the benefit reflected in our financial statements is recorded on our consolidated balance sheets as an unrecognized tax benefit (UTB). We update our UTBs at each financial statement date to reflect the impacts of audit settlements and other resolutions of audit issues, the expiration of statutes of limitation, developments in tax law and ongoing discussions with taxing authorities. A reconciliation of the change in our UTB balance from January 1 to December 31 for 2014 and 2013 is as follows: | ||||||||||
Federal, State and Foreign Tax | 2014 | 2013 | ||||||||
Balance at beginning of year | $ | 4,227 | $ | 4,793 | ||||||
Increases for tax positions related to the current year | 470 | 255 | ||||||||
Increases for tax positions related to prior years | 484 | 488 | ||||||||
Decreases for tax positions related to prior years | -657 | -1,238 | ||||||||
Lapse of statute of limitations | -38 | -24 | ||||||||
Settlements | -21 | -47 | ||||||||
Balance at end of year | 4,465 | 4,227 | ||||||||
Accrued interest and penalties | 973 | 1,034 | ||||||||
Gross unrecognized income tax benefits | 5,438 | 5,261 | ||||||||
Less: Deferred federal and state income tax benefits | -434 | -481 | ||||||||
Less: Tax attributable to timing items included above | -2,400 | -2,121 | ||||||||
Total UTB that, if recognized, would impact the | ||||||||||
effective income tax rate as of the end of the year | $ | 2,604 | $ | 2,659 | ||||||
Periodically we make deposits to taxing jurisdictions which reduce our UTB balance but are not included in the reconciliation above. The amount of deposits that reduced our UTB balance was $2,258 at December 31, 2014, and $2,303 at December 31, 2013. | ||||||||||
Accrued interest and penalties included in UTBs were $973 as of December 31, 2014, and $1,034 as of December 31, 2013. We record interest and penalties related to federal, state and foreign UTBs in income tax expense. The net interest and penalty expense (benefit) included in income tax expense was $(64) for 2014, $35 for 2013, and $(74) for 2012. | ||||||||||
We file income tax returns in the U.S. federal jurisdiction and various state, local and foreign jurisdictions. As a large taxpayer, our income tax returns are regularly audited by the Internal Revenue Service (IRS) and other taxing authorities. The IRS has completed field examinations of our tax returns through 2010. All audit periods prior to 2003 are closed for federal examination purposes. Contested issues from our 2003 through 2010 returns are at various stages of resolution with the IRS Appeals Division; we are unable to estimate the impact the resolution of these issues may have on our UTBs. | ||||||||||
The components of income tax (benefit) expense are as follows: | ||||||||||
2014 | 2013 | 2012 | ||||||||
Federal: | ||||||||||
Current | $ | 1,609 | $ | 3,043 | $ | 451 | ||||
Deferred – net | 1,904 | 5,692 | 2,256 | |||||||
3,513 | 8,735 | 2,707 | ||||||||
State, local and foreign: | ||||||||||
Current | 61 | -61 | 702 | |||||||
Deferred – net | -132 | 550 | -509 | |||||||
-71 | 489 | 193 | ||||||||
Total | $ | 3,442 | $ | 9,224 | $ | 2,900 | ||||
A reconciliation of income tax expense (benefit) and the amount computed by applying the statutory federal income tax rate (35%) to income from continuing operations before income taxes is as follows: | ||||||||||
2014 | 2013 | 2012 | ||||||||
Taxes computed at federal statutory rate | $ | 3,486 | $ | 9,722 | $ | 3,654 | ||||
Increases (decreases) in income taxes resulting from: | ||||||||||
State and local income taxes – net of federal income tax benefit | -127 | 294 | 85 | |||||||
Connecticut wireline sale | 325 | - | - | |||||||
Loss of foreign tax credits in connection with América Móvil sale | 386 | - | - | |||||||
Other – net | -628 | -792 | -839 | |||||||
Total | $ | 3,442 | $ | 9,224 | $ | 2,900 | ||||
Effective Tax Rate | 34.6 | % | 33.2 | % | 27.8 | % |
Pension_And_Postretirement_Ben
Pension And Postretirement Benefits | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||
Pension And Postretirement Benefits | ||||||||||||||||||||||||
Pension And Postretirement Benefits | NOTE 12. PENSION AND POSTRETIREMENT BENEFITS | |||||||||||||||||||||||
Pension Benefits and Postretirement Benefits | ||||||||||||||||||||||||
Substantially all of our U.S. employees are covered by one of our noncontributory pension plans. The majority of our newly hired employees, longer-service management and some nonmanagement employees participate in cash balance pension programs that include annual or monthly credits based on salary as well as an interest credit. Other longer-service management employees participate in pension programs that have a traditional pension formula (i.e., a stated percentage of employees' adjusted career income). Other longer-service nonmanagement employees' pension benefits are generally calculated using one of two formulas: a flat dollar amount applied to years of service according to job classification or a cash balance plan with negotiated annual pension band credits as well as interest credits. Most nonmanagement employees can elect to receive their pension benefits in either a lump sum payment or an annuity. Effective January 1, 2015, the pension plan was amended so that new management hires are no longer eligible for the plan. | ||||||||||||||||||||||||
We also provide a variety of medical, dental and life insurance benefits to certain retired employees under various plans and accrue actuarially determined postretirement benefit costs as active employees earn these benefits. | ||||||||||||||||||||||||
In December 2014, we announced an opportunity for certain management employees who are retirement eligible as of March 31, 2015 to elect an enhanced, full lump sum payment option of their accrued pension if they retire on or before March 31, 2015. Eligible participants are required to accept the offer by March 6, 2015. Our 2015 results will include special termination benefits as a result of this offer. | ||||||||||||||||||||||||
In October 2013, we offered an opportunity for certain retirement-eligible employees to elect a full lump sum payment of their accrued pension if they retired as of December 30, 2013. The lump sum value was calculated using the August 2012 discount rates for some pension programs and was equal to the cash balance amount for the management new hire pension program. The lump sum value totaled approximately $2,700, which was distributed in 2014. We recorded special termination benefits of $15 in 2014 and $250 in 2013 as a result of this offer. | ||||||||||||||||||||||||
In October 2013, as part of our 2014 annual benefits enrollment process, we communicated an amendment to our Medicare-eligible retirees that beginning in 2015 AT&T will provide access to retiree health insurance coverage that supplements government-sponsored Medicare through a private insurance marketplace. The plan was further amended in 2014 to include access to dental benefits through the private insurance marketplace. This new approach will allow retirees to choose insurance with the terms, cost and coverage that best fits their needs, while still receiving financial support as determined by AT&T. We expect that the cost to AT&T for retiree medical coverage in 2015 will be comparable to 2014. Future changes in support, if any, will be based on a number of factors such as business conditions, government actions, marketplace changes and the general consumer inflation rate. | ||||||||||||||||||||||||
In the fourth quarter of 2014, we changed the method we use to estimate the service and interest components of net periodic benefit cost for pension and other postretirement benefits. This change compared to the previous method resulted in a decrease in the service and interest components for pension cost in the fourth quarter. Historically, we estimated these service and interest cost components utilizing a single weighted-average discount rate derived from the yield curve used to measure the benefit obligation at the beginning of the period. We have elected to utilize a full yield curve approach in the estimation of these components by applying the specific spot rates along the yield curve used in the determination of the benefit obligation to the relevant projected cash flows. We have made this change to provide a more precise measurement of service and interest costs by improving the correlation between projected benefit cash flows to the corresponding spot yield curve rates. This change does not affect the measurement of our total benefit obligations or our annual net periodic benefit cost as the change in the service and interest costs is completely offset in the actuarial (gain) loss reported. We have accounted for this change as a change in accounting estimate that is inseparable from a change in accounting principle and accordingly have accounted for it prospectively. | ||||||||||||||||||||||||
Obligations and Funded Status | ||||||||||||||||||||||||
For defined benefit pension plans, the benefit obligation is the “projected benefit obligation,” the actuarial present value, as of our December 31 measurement date, of all benefits attributed by the pension benefit formula to employee service rendered to that date. The amount of benefit to be paid depends on a number of future events incorporated into the pension benefit formula, including estimates of the average life of employees/survivors and average years of service rendered. It is measured based on assumptions concerning future interest rates and future employee compensation levels. | ||||||||||||||||||||||||
For postretirement benefit plans, the benefit obligation is the “accumulated postretirement benefit obligation,” the actuarial present value as of a date of all future benefits attributed under the terms of the postretirement benefit plan to employee service rendered to the valuation date. | ||||||||||||||||||||||||
The following table presents this reconciliation and shows the change in the projected benefit obligation for the years ended December 31: | ||||||||||||||||||||||||
Pension Benefits | Postretirement Benefits | |||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||
Benefit obligation at beginning of year | $ | 56,560 | $ | 58,911 | $ | 30,285 | $ | 37,431 | ||||||||||||||||
Service cost - benefits earned during the period | 1,134 | 1,321 | 233 | 352 | ||||||||||||||||||||
Interest cost on projected benefit obligation | 2,470 | 2,429 | 1,458 | 1,532 | ||||||||||||||||||||
Amendments | -73 | - | -617 | -4,460 | ||||||||||||||||||||
Actuarial (gain) loss | 6,269 | -2,390 | 1,822 | -2,098 | ||||||||||||||||||||
Special termination benefits | 17 | 255 | - | 1 | ||||||||||||||||||||
Benefits paid | -6,543 | -3,966 | -2,298 | -2,473 | ||||||||||||||||||||
Transfer for sale of Connecticut wireline operations | -293 | - | -174 | - | ||||||||||||||||||||
Plan transfers | 2 | - | - | - | ||||||||||||||||||||
Benefit obligation at end of year | $ | 59,543 | $ | 56,560 | $ | 30,709 | $ | 30,285 | ||||||||||||||||
The following table presents the change in the value of plan assets for the years ended December 31 and the plans' funded status at December 31: | ||||||||||||||||||||||||
Pension Benefits | Postretirement Benefits | |||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||
Fair value of plan assets at beginning of year | $ | 47,238 | $ | 45,060 | $ | 8,960 | $ | 9,295 | ||||||||||||||||
Actual return on plan assets | 4,213 | 5,935 | 384 | 1,347 | ||||||||||||||||||||
Benefits paid1 | -6,543 | -3,966 | -1,498 | -1,682 | ||||||||||||||||||||
Contributions | 562 | 209 | - | - | ||||||||||||||||||||
Transfer for sale of Connecticut wireline operations | -308 | - | - | - | ||||||||||||||||||||
Other | 1 | - | - | - | ||||||||||||||||||||
Fair value of plan assets at end of year3 | 45,163 | 47,238 | 7,846 | 8,960 | ||||||||||||||||||||
Unfunded status at end of year2 | $ | -14,380 | $ | -9,322 | $ | -22,863 | $ | -21,325 | ||||||||||||||||
1 | At our discretion, certain postretirement benefits may be paid from AT&T cash accounts, which does not reduce | |||||||||||||||||||||||
Voluntary Employee Benefit Association (VEBA) assets. Future benefit payments may be made from VEBA trusts and thus reduce those asset balances. | ||||||||||||||||||||||||
2 | Funded status is not indicative of our ability to pay ongoing pension benefits or of our obligation to fund retirement trusts. | |||||||||||||||||||||||
Required pension funding is determined in accordance with the Employee Retirement Income Security Act of 1974, as amended (ERISA) regulations. | ||||||||||||||||||||||||
3 | Net assets available for benefits were $54,184 at December 31, 2014 and $56,447 at December 31, 2013 and include the preferred equity interest in AT&T Mobility II LLC discussed below, which was valued at $9,021 and $9,209, respectively. | |||||||||||||||||||||||
In July 2014, the U.S. Department of Labor (DOL) published in the Federal Register their final retroactive approval of our September 9, 2013 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 $9,104 on the contribution date and was valued at $9,021 at December 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 $560 to the trust during 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 (see Note 14), it is not reflected in plan assets in our consolidated financial statements and instead has been eliminated in consolidation. At the time of the contribution of the preferred equity interest, we made an additional cash contribution of $175 and have agreed to annual cash contributions of $175 no later than the due date for our federal income tax return for each of 2014, 2015 and 2016. These contributions combined with our existing pension assets are in excess of 90% of the pension obligation at December 31, 2014. | ||||||||||||||||||||||||
As noted above, this preferred equity interest represents a plan asset of our pension trust, which is recognized in the separate financial statements of our pension plan as a qualified plan asset for funding purposes. The following table presents a reconciliation of our pension plan assets recognized in the consolidated financial statements of the Company with the net assets available for benefits included in the separate financial statements of the pension plan at December 31: | ||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||
Plan assets recognized in the consolidated financial statements | $ | 45,163 | $ | 47,238 | ||||||||||||||||||||
Preferred equity interest in Mobility | 9,021 | 9,209 | ||||||||||||||||||||||
Net assets available for benefits | $ | 54,184 | $ | 56,447 | ||||||||||||||||||||
Amounts recognized on our consolidated balance sheets at December 31 are listed below: | ||||||||||||||||||||||||
Pension Benefits | Postretirement Benefits | |||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||
Current portion of employee benefit obligation1 | $ | - | $ | - | $ | -1,842 | $ | -1,949 | ||||||||||||||||
Employee benefit obligation2 | -14,380 | -9,322 | -21,021 | -19,376 | ||||||||||||||||||||
Net amount recognized | $ | -14,380 | $ | -9,322 | $ | -22,863 | $ | -21,325 | ||||||||||||||||
1 | Included in "Accounts payable and accrued liabilities." | |||||||||||||||||||||||
2 | Included in "Postemployment benefit obligation." | |||||||||||||||||||||||
The accumulated benefit obligation for our pension plans represents the actuarial present value of benefits based on employee service and compensation as of a certain date and does not include an assumption about future compensation levels. The accumulated benefit obligation for our pension plans was $57,949 at December 31, 2014, and $55,077 at December 31, 2013. | ||||||||||||||||||||||||
Net Periodic Benefit Cost and Other Amounts Recognized in Other Comprehensive Income | ||||||||||||||||||||||||
Periodic Benefit Costs | ||||||||||||||||||||||||
Our combined net pension and postretirement (credit) cost recognized in our consolidated statements of income was $7,232, $(7,390) and $10,257 for the years ended December 31, 2014, 2013 and 2012. A portion of pension and postretirement benefit costs is capitalized as part of the benefit load on internal construction and capital expenditures, providing a small reduction in the net expense recorded. The following table presents the components of net periodic benefit cost: | ||||||||||||||||||||||||
Pension Benefits | Postretirement Benefits | |||||||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | |||||||||||||||||||
Service cost – benefits earned during the period | $ | 1,134 | $ | 1,321 | $ | 1,216 | $ | 233 | $ | 352 | $ | 336 | ||||||||||||
Interest cost on projected benefit obligation | 2,470 | 2,429 | 2,800 | 1,458 | 1,532 | 1,725 | ||||||||||||||||||
Expected return on assets | -3,380 | -3,312 | -3,520 | -653 | -706 | -811 | ||||||||||||||||||
Amortization of prior service credit | -94 | -94 | -15 | -1,448 | -1,161 | -927 | ||||||||||||||||||
Actuarial (gain) loss | 5,419 | -5,013 | 5,206 | 2,093 | -2,738 | 4,247 | ||||||||||||||||||
Net pension and postretirement (credit) cost | $ | 5,549 | $ | -4,669 | $ | 5,687 | $ | 1,683 | $ | -2,721 | $ | 4,570 | ||||||||||||
Other Changes in Benefit Obligations Recognized in Other Comprehensive Income | ||||||||||||||||||||||||
The following table presents the after-tax changes in benefit obligations recognized in OCI and the after-tax prior service credits that were amortized from OCI into net periodic benefit costs: | ||||||||||||||||||||||||
Pension Benefits | Postretirement Benefits | |||||||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | |||||||||||||||||||
Balance at beginning of year | $ | 583 | $ | 641 | $ | 92 | $ | 6,812 | $ | 4,766 | $ | 3,655 | ||||||||||||
Prior service (cost) credit | 45 | - | 559 | 383 | 2,765 | 1,686 | ||||||||||||||||||
Amortization of prior service credit | -58 | -58 | -10 | -898 | -719 | -575 | ||||||||||||||||||
Reclassification to income of prior service credit | 5 | - | - | -40 | - | - | ||||||||||||||||||
Total recognized in other comprehensive (income) loss | -8 | -58 | 549 | -555 | 2,046 | 1,111 | ||||||||||||||||||
Balance at end of year | $ | 575 | $ | 583 | $ | 641 | $ | 6,257 | $ | 6,812 | $ | 4,766 | ||||||||||||
The estimated prior service credits that will be amortized from accumulated OCI into net periodic benefit cost over the next fiscal year is $104 ($64 net of tax) for pension and $1,274 ($790 net of tax) for postretirement benefits. | ||||||||||||||||||||||||
Assumptions | ||||||||||||||||||||||||
In determining the projected benefit obligation and the net pension and postemployment benefit cost, we used the following significant weighted-average assumptions: | ||||||||||||||||||||||||
Pension Benefits | Postretirement Benefits | |||||||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | |||||||||||||||||||
Weighted-average discount rate for determining projected benefit obligation at December 31 | 4.3 | % | 5 | % | 4.3 | % | 4.2 | % | 5 | % | 4.3 | % | ||||||||||||
Discount rate in effect for determining net cost1 | 4.6 | % | 4.3 | % | 5.3 | % | 5 | % | 4.3 | % | 5.3 | % | ||||||||||||
Long-term rate of return on plan assets | 7.75 | % | 7.75 | % | 8.25 | % | 7.75 | % | 7.75 | % | 8.25 | % | ||||||||||||
Composite rate of compensation increase for determining projected benefit obligation | 3 | % | 3 | % | 3 | % | 3 | % | 3 | % | 3 | % | ||||||||||||
Composite rate of compensation increase for determining net pension cost (benefit) | 3 | % | 3 | % | 4 | % | 3 | % | 3 | % | 4 | % | ||||||||||||
1 | Weighted-average discount rate of 5.00% in effect from January 1, 2014 through September 30, 2014. Discount rate of 3.50% in effect from October 1, 2014 through December 31, 2014. | |||||||||||||||||||||||
We recognize gains and losses on pension and postretirement plan assets and obligations immediately in our operating results. These gains and losses are measured annually as of December 31 and accordingly will be recorded during the fourth quarter, unless earlier remeasurements are required. | ||||||||||||||||||||||||
Discount Rate Our assumed weighted-average discount rate for pension and postretirement benefits of 4.30% and 4.20% respectively, at December 31, 2014, reflects the hypothetical rate at which the projected benefit obligation could be effectively settled or paid out to participants. We determined our discount rate based on a range of factors, including a yield curve composed of the rates of return on several hundred high-quality, fixed income corporate bonds available at the measurement date and corresponding to the related expected durations of future cash outflows. These bonds were all rated at least Aa3 or AA- by one of the nationally recognized statistical rating organizations, denominated in U.S. dollars, and neither callable, convertible nor index linked. For the year ended December 31, 2014, when compared to the year ended December 31, 2013, we decreased our pension discount rate by 0.70%, resulting in an increase in our pension plan benefit obligation of $4,854 and decreased our postretirement discount rate 0.80%, resulting in an increase in our postretirement benefit obligation of $2,786. For the year ended December 31, 2013, we increased our pension and postretirement discount rates by 0.70%, resulting in a decrease in our pension plan benefit obligation of $4,533 and a decrease in our postretirement benefit obligation of $3,161. | ||||||||||||||||||||||||
Expected Long-Term Rate of Return Our expected long-term rate of return on pension plan assets is 7.75% for 2015 and 2014. Our expected long-term rate of return on postretirement plan assets was adjusted to 5.75% for 2015 from 7.75% for 2014 to reflect changes in the plan asset mix. Our long-term rates of return reflect the average rate of earnings expected on the funds invested, or to be invested, to provide for the benefits included in the projected benefit obligations. In setting the long-term assumed rate of return, management considers capital markets future expectations and the asset mix of the plans' investments. Actual long-term return can, in relatively stable markets, also serve as a factor in determining future expectations. We consider many factors that include, but are not limited to, historical returns on plan assets, current market information on long-term returns (e.g., long-term bond rates) and current and target asset allocations between asset categories. The target asset allocation is determined based on consultations with external investment advisers. If all other factors were to remain unchanged, we expect that a 0.50% decrease in the expected long-term rate of return would cause 2015 combined pension and postretirement cost to increase $250. However, any differences in the rate and actual returns will be included with the actuarial gain or loss recorded in the fourth quarter when our plans are remeasured. | ||||||||||||||||||||||||
Composite Rate of Compensation Increase Our expected composite rate of compensation increase cost of 3.00% in 2015 and 2014 reflects the long-term average rate of salary increases. | ||||||||||||||||||||||||
Mortality Tables At December 31, 2014 we updated our assumed mortality rates to reflect our best estimate of future mortality, which increased our pension obligation by $1,442 and increased our postretirement obligations by $53. At December 31, 2013, we also updated our mortality rates, which increased our pension obligation by $1,986 and increased our postretirement obligations by $679. | ||||||||||||||||||||||||
Healthcare Cost Trend Our healthcare cost trend assumptions are developed based on historical cost data, the near-term outlook and an assessment of likely long-term trends. Due to historical experience, updated expectations of healthcare industry inflation and changes in physician prescribing patterns, we are lowering our 2015 assumed annual healthcare medical cost trend and ultimate trend rate to 4.50%. Our 2015 assumed annual healthcare prescription drug cost trend for non-Medicare eligible participants will increase to 6.0%, trending to our ultimate trend rate of 4.50% in 2021 and for Medicare-eligible participants will lower to an assumed annual and ultimate trend of 4.50%. This change in assumption decreased our obligation by $424. In 2014 our assumed annual healthcare cost trend rate was 5.00% and our ultimate trend rate was 5.00%. In addition to the healthcare cost trend in 2014, we assumed an annual 2.50% growth in administrative expenses and an annual 3.00% growth in dental claims. | ||||||||||||||||||||||||
A one percentage-point change in the assumed combined medical and dental cost trend rate would have the following effects: | ||||||||||||||||||||||||
One Percentage- | One Percentage- | |||||||||||||||||||||||
Point Increase | Point Decrease | |||||||||||||||||||||||
Increase (decrease) in total of service and interest cost components | $ | 79 | $ | -67 | ||||||||||||||||||||
Increase (decrease) in accumulated postretirement benefit obligation | 796 | -707 | ||||||||||||||||||||||
Plan Assets | ||||||||||||||||||||||||
Plan assets consist primarily of private and public equity, government and corporate bonds, and real assets (real estate and natural resources). The asset allocations of the pension plans are maintained to meet ERISA requirements. Any plan contributions, as determined by ERISA regulations, are made to a pension trust for the benefit of plan participants. As part of our voluntary contribution of the Mobility preferred equity interest, we will contribute $735 of cash distributions during 2015. We do not have additional significant required contributions to our pension plans for 2015. | ||||||||||||||||||||||||
We maintain VEBA trusts to partially fund postretirement benefits; however, there are no ERISA or regulatory requirements that these postretirement benefit plans be funded annually. | ||||||||||||||||||||||||
The principal investment objectives are to ensure the availability of funds to pay pension and postretirement benefits as they become due under a broad range of future economic scenarios, to maximize long-term investment return with an acceptable level of risk based on our pension and postretirement obligations, and to be broadly diversified across and within the capital markets to insulate asset values against adverse experience in any one market. Each asset class has broadly diversified characteristics. Substantial biases toward any particular investing style or type of security are sought to be avoided by managing the aggregation of all accounts with portfolio benchmarks. Asset and benefit obligation forecasting studies are conducted periodically, generally every two to three years, or when significant changes have occurred in market conditions, benefits, participant demographics or funded status. Decisions regarding investment policy are made with an understanding of the effect of asset allocation on funded status, future contributions and projected expenses. The current asset allocation policy and risk level for the pension plan and VEBA assets is based on a study completed and approved during 2013 and is reflected in the table below. | ||||||||||||||||||||||||
The plans' weighted-average asset targets and actual allocations as a percentage of plan assets, including the notional exposure of future contracts by asset categories at December 31, are as follows: | ||||||||||||||||||||||||
Pension Assets | Postretirement (VEBA) Assets | |||||||||||||||||||||||
Target | 2014 | 2013 | Target | 2014 | 2013 | |||||||||||||||||||
Equity Securities: | ||||||||||||||||||||||||
Domestic | 21 | % | - | 31 | % | 23 | % | 25 | % | 24 | % | - | 34 | % | 29 | % | 25 | % | ||||||
International | 10 | % | - | 20 | % | 14 | 16 | 15 | % | - | 25 | % | 20 | 20 | ||||||||||
Fixed income securities | 34 | % | - | 44 | % | 38 | 33 | 24 | % | - | 34 | % | 29 | 24 | ||||||||||
Real assets | 6 | % | - | 16 | % | 11 | 11 | 0 | % | - | 6 | % | 1 | 1 | ||||||||||
Private equity | 4 | % | - | 14 | % | 12 | 12 | 0 | % | - | 8 | % | 3 | 4 | ||||||||||
Other | 0 | % | - | 5 | % | 2 | 3 | 12 | % | - | 22 | % | 18 | 26 | ||||||||||
Total | 100 | % | 100 | % | 100 | % | 100 | % | ||||||||||||||||
At December 31, 2014, AT&T securities represented less than 0.5% of assets held by our pension plans and VEBA trusts included in these financial statements. | ||||||||||||||||||||||||
Investment Valuation | ||||||||||||||||||||||||
Investments are stated at fair value. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. See “Fair Value Measurements” for further discussion. | ||||||||||||||||||||||||
Investments in securities traded on a national securities exchange are valued at the last reported sales price on the last business day of the year. If no sale was reported on that date, they are valued at the last reported bid price. 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. Shares of registered investment companies are valued based on quoted market prices, which represent the net asset value of shares held at year-end. Over-the-counter (OTC) securities and government obligations are valued at the bid price or the average of the bid and asked price on the last business day of the year from published sources where available and, if not available, from other sources considered reliable. Depending on the types and contractual terms of OTC derivatives, fair value is measured using valuation techniques, such as the Black-Scholes option pricing model, simulation models or a combination of various models. | ||||||||||||||||||||||||
Common/collective trust funds, pooled separate accounts and other commingled (103-12) investment entities are valued at quoted redemption values that represent the net asset values of units held at year-end which management has determined approximates fair value. | ||||||||||||||||||||||||
Alternative investments, including investments in private equity, real estate, natural resources (included in real assets), mezzanine and distressed debt (included in partnerships/joint ventures), limited partnership interest, fixed income securities and hedge funds do not have readily available market values. These estimated fair values may differ significantly from the values that would have been used had a ready market for these investments existed, and such differences could be material. Alternative investments not having an established market are valued at fair value as determined by the investment managers. Private equity, mezzanine and distressed investments are often valued initially by the investment managers based upon cost. Thereafter, investment managers may use available market data to determine adjustments to carrying value based upon observations of the trading multiples of public companies considered comparable to the private companies being valued. Such market data used to determine adjustments to accounts for cash flows and company-specified issues include current operating performance and future expectations of the investments, changes in market outlook, and the third-party financing environment. Private equity partnership holdings may also include publicly held equity investments in liquid markets that are marked-to-market at quoted public values, subject to adjustments for large positions held. Real estate and natural resource direct investments are valued either at amounts based upon appraisal reports prepared by independent third-party appraisers or at amounts as determined by internal appraisals performed by the investment manager, which have been agreed to by an external valuation consultant. Fixed income securities valuation is based upon pricing provided by an external pricing service when such pricing is available. In the event a security is too thinly traded or narrowly held to be priced by such a pricing service, or the price furnished by such external pricing services is deemed inaccurate, the managers will then solicit broker/dealer quotes (spreads or prices). In cases where such quotes are available, fair value will be determined based solely upon such quotes provided. Managers will typically use a pricing matrix for determining fair value in cases where an approved pricing service or a broker/dealer is unable to provide a fair valuation for specific fixed-rate securities such as many private placements. New fixed-rate securities will be initially valued at cost at the time of purchase. Thereafter, each bond will be assigned a spread from a pricing matrix that will be added to current Treasury rates. The pricing matrix derives spreads for each bond based on external market data, including the current credit rating for the bonds, credit spreads to Treasuries for each credit rating, sector add-ons or credits, issue specific add-ons or credits as well as call or other options. | ||||||||||||||||||||||||
Purchases and sales of securities are recorded as of the trade date. Realized gains and losses on sales of securities are determined on the basis of average cost. Interest income is recognized on the accrual basis. Dividend income is recognized on the ex-dividend date. | ||||||||||||||||||||||||
Non-interest bearing cash and overdrafts are valued at cost, which approximates fair value. | ||||||||||||||||||||||||
Fair Value Measurements | ||||||||||||||||||||||||
See Note 10 for a discussion of fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. | ||||||||||||||||||||||||
The following table sets forth by level, within the fair value hierarchy, the pension and postretirement assets and liabilities at fair value as of December 31, 2014: | ||||||||||||||||||||||||
Pension Assets and Liabilities at Fair Value as of December 31, 2014 | ||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||||||
Non-interest bearing cash | $ | 45 | $ | - | $ | - | $ | 45 | ||||||||||||||||
Interest bearing cash | - | 127 | - | 127 | ||||||||||||||||||||
Foreign currency contracts | - | 25 | - | 25 | ||||||||||||||||||||
Equity securities: | ||||||||||||||||||||||||
Domestic equities | 8,613 | 74 | - | 8,687 | ||||||||||||||||||||
International equities | 4,805 | 171 | - | 4,976 | ||||||||||||||||||||
Fixed income securities: | ||||||||||||||||||||||||
Asset-backed securities | - | 610 | 1 | 611 | ||||||||||||||||||||
Mortgage-backed securities | - | 1,741 | - | 1,741 | ||||||||||||||||||||
Collateralized mortgage-backed securities | - | 418 | - | 418 | ||||||||||||||||||||
Collateralized mortgage obligations/REMICS | - | 531 | - | 531 | ||||||||||||||||||||
Corporate and other fixed income instruments and funds | 97 | 7,210 | 441 | 7,748 | ||||||||||||||||||||
Government and municipal bonds | 145 | 4,876 | - | 5,021 | ||||||||||||||||||||
Private equity funds | - | - | 5,399 | 5,399 | ||||||||||||||||||||
Real estate and real assets | - | - | 4,845 | 4,845 | ||||||||||||||||||||
Commingled funds | - | 5,823 | 2 | 5,825 | ||||||||||||||||||||
Securities lending collateral | 310 | 3,140 | - | 3,450 | ||||||||||||||||||||
Receivable for variation margin | 6 | - | - | 6 | ||||||||||||||||||||
Purchased options | 1 | - | - | 1 | ||||||||||||||||||||
Assets at fair value | 14,022 | 24,746 | 10,688 | 49,456 | ||||||||||||||||||||
Investments sold short and other liabilities at fair value | -650 | -260 | - | -910 | ||||||||||||||||||||
Total plan net assets at fair value | $ | 13,372 | $ | 24,486 | $ | 10,688 | $ | 48,546 | ||||||||||||||||
Other assets (liabilities)1 | -3,383 | |||||||||||||||||||||||
Total Plan Net Assets | $ | 45,163 | ||||||||||||||||||||||
1 | Other assets (liabilities) include amounts receivable, accounts payable and net adjustment for securities lending payable. | |||||||||||||||||||||||
Postretirement Assets and Liabilities at Fair Value as of December 31, 2014 | ||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||||||
Interest bearing cash | $ | 278 | $ | 1,198 | $ | - | $ | 1,476 | ||||||||||||||||
Equity securities: | ||||||||||||||||||||||||
Domestic equities | 1,606 | - | - | 1,606 | ||||||||||||||||||||
International equities | 1,405 | - | - | 1,405 | ||||||||||||||||||||
Fixed income securities: | ||||||||||||||||||||||||
Asset-backed securities | - | 46 | - | 46 | ||||||||||||||||||||
Collateralized mortgage-backed securities | - | 113 | - | 113 | ||||||||||||||||||||
Collateralized mortgage obligations | - | 50 | 1 | 51 | ||||||||||||||||||||
Corporate and other fixed income instruments and funds | - | 397 | - | 397 | ||||||||||||||||||||
Government and municipal bonds | - | 614 | 1 | 615 | ||||||||||||||||||||
Commingled funds | - | 1,960 | 1 | 1,961 | ||||||||||||||||||||
Private equity assets | - | - | 218 | 218 | ||||||||||||||||||||
Real assets | - | - | 96 | 96 | ||||||||||||||||||||
Securities lending collateral | - | 173 | - | 173 | ||||||||||||||||||||
Total plan net assets at fair value | $ | 3,289 | $ | 4,551 | $ | 317 | $ | 8,157 | ||||||||||||||||
Other assets (liabilities)1 | -311 | |||||||||||||||||||||||
Total Plan Net Assets | $ | 7,846 | ||||||||||||||||||||||
1 | Other assets (liabilities) include amounts receivable, accounts payable and net adjustment for securities lending payable. | |||||||||||||||||||||||
The tables below set forth a summary of changes in the fair value of the Level 3 pension and postretirement assets for the year ended December 31, 2014: | ||||||||||||||||||||||||
Pension Assets | Equities | Fixed Income Funds | Private Equity Funds | Real Estate and Real Assets | Total | |||||||||||||||||||
Balance at beginning of year | $ | - | $ | 547 | $ | 5,724 | $ | 5,194 | $ | 11,465 | ||||||||||||||
Realized gains (losses) | - | 41 | 696 | 806 | 1,543 | |||||||||||||||||||
Unrealized gains (losses) | - | -1 | -76 | -246 | -323 | |||||||||||||||||||
Transfers in | - | - | - | 22 | 22 | |||||||||||||||||||
Transfers out | - | -3 | -22 | - | -25 | |||||||||||||||||||
Purchases | 1 | 55 | 531 | 678 | 1,265 | |||||||||||||||||||
Sales | -1 | -195 | -1,454 | -1,609 | -3,259 | |||||||||||||||||||
Balance at end of year | $ | - | $ | 444 | $ | 5,399 | $ | 4,845 | $ | 10,688 | ||||||||||||||
Postretirement Assets | Fixed Income Funds | Private Equity Funds | Real Assets | Total | ||||||||||||||||||||
Balance at beginning of year | $ | 26 | $ | 309 | $ | 111 | $ | 446 | ||||||||||||||||
Realized gains (losses) | - | 45 | -3 | 42 | ||||||||||||||||||||
Unrealized gains (losses) | 1 | -29 | 11 | -17 | ||||||||||||||||||||
Transfers out | -1 | - | - | -1 | ||||||||||||||||||||
Purchases | - | 6 | - | 6 | ||||||||||||||||||||
Sales | -23 | -113 | -23 | -159 | ||||||||||||||||||||
Balance at end of year | $ | 3 | $ | 218 | $ | 96 | $ | 317 | ||||||||||||||||
The following tables set forth by level, within the fair value hierarchy, the pension and postretirement assets and liabilities at fair value as of December 31, 2013: | ||||||||||||||||||||||||
Pension Assets and Liabilities at Fair Value as of December 31, 2013 | ||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||||||
Non-interest bearing cash | $ | 65 | $ | - | $ | - | $ | 65 | ||||||||||||||||
Interest bearing cash | - | 324 | - | 324 | ||||||||||||||||||||
Foreign currency contracts | - | 3 | - | 3 | ||||||||||||||||||||
Equity securities: | ||||||||||||||||||||||||
Domestic equities | 9,841 | 3 | - | 9,844 | ||||||||||||||||||||
International equities | 6,431 | 7 | - | 6,438 | ||||||||||||||||||||
Fixed income securities: | ||||||||||||||||||||||||
Asset-backed securities | - | 553 | 3 | 556 | ||||||||||||||||||||
Mortgage-backed securities | - | 2,470 | - | 2,470 | ||||||||||||||||||||
Collateralized mortgage-backed securities | - | 364 | - | 364 | ||||||||||||||||||||
Collateralized mortgage obligations/REMICS | - | 514 | - | 514 | ||||||||||||||||||||
Corporate and other fixed income instruments and funds | 154 | 5,147 | 540 | 5,841 | ||||||||||||||||||||
Government and municipal bonds | 15 | 4,566 | - | 4,581 | ||||||||||||||||||||
Private equity funds | - | - | 5,724 | 5,724 | ||||||||||||||||||||
Real estate and real assets | - | - | 5,194 | 5,194 | ||||||||||||||||||||
Commingled funds | - | 6,358 | 4 | 6,362 | ||||||||||||||||||||
Securities lending collateral | 390 | 3,074 | - | 3,464 | ||||||||||||||||||||
Receivable for variation margin | 12 | - | - | 12 | ||||||||||||||||||||
Assets at fair value | 16,908 | 23,383 | 11,465 | 51,756 | ||||||||||||||||||||
Investments sold short and other liabilities at fair value | -619 | -5 | - | -624 | ||||||||||||||||||||
Total plan net assets at fair value | $ | 16,289 | $ | 23,378 | $ | 11,465 | $ | 51,132 | ||||||||||||||||
Other assets (liabilities)1 | -3,894 | |||||||||||||||||||||||
Total Plan Net Assets | $ | 47,238 | ||||||||||||||||||||||
1 | Other assets (liabilities) include amounts receivable, accounts payable and net adjustment for securities lending payable. | |||||||||||||||||||||||
Postretirement Assets and Liabilities at Fair Value as of December 31, 2013 | ||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||||||
Interest bearing cash | $ | 405 | $ | 2,073 | $ | - | $ | 2,478 | ||||||||||||||||
Equity securities: | ||||||||||||||||||||||||
Domestic equities | 1,609 | - | - | 1,609 | ||||||||||||||||||||
International equities | 1,527 | - | - | 1,527 | ||||||||||||||||||||
Fixed income securities: | ||||||||||||||||||||||||
Asset-backed securities | - | 35 | 2 | 37 | ||||||||||||||||||||
Collateralized mortgage-backed securities | - | 110 | - | 110 | ||||||||||||||||||||
Collateralized mortgage obligations | - | 53 | 3 | 56 | ||||||||||||||||||||
Corporate and other fixed income instruments and funds | - | 367 | 18 | 385 | ||||||||||||||||||||
Government and municipal bonds | - | 558 | 1 | 559 | ||||||||||||||||||||
Commingled funds | - | 1,899 | 2 | 1,901 | ||||||||||||||||||||
Private equity assets | - | - | 309 | 309 | ||||||||||||||||||||
Real assets | - | - | 111 | 111 | ||||||||||||||||||||
Securities lending collateral | 19 | 372 | - | 391 | ||||||||||||||||||||
Foreign exchange contracts receivable | 3 | - | - | 3 | ||||||||||||||||||||
Assets at fair value | 3,563 | 5,467 | 446 | 9,476 | ||||||||||||||||||||
Foreign exchange contracts payable | 3 | - | - | 3 | ||||||||||||||||||||
Liabilities at fair value | 3 | - | - | 3 | ||||||||||||||||||||
Total plan net assets at fair value | $ | 3,560 | $ | 5,467 | $ | 446 | $ | 9,473 | ||||||||||||||||
Other assets (liabilities)1 | -513 | |||||||||||||||||||||||
Total Plan Net Assets | $ | 8,960 | ||||||||||||||||||||||
1 | Other assets (liabilities) include amounts receivable, accounts payable and net adjustment for securities lending payable. | |||||||||||||||||||||||
The tables below set forth a summary of changes in the fair value of the Level 3 pension and postretirement assets for the year ended December 31, 2013: | ||||||||||||||||||||||||
Pension Assets | Equities | Fixed Income Funds | Private Equity Funds | Real Estate and Real Assets | Total | |||||||||||||||||||
Balance at beginning of year | $ | - | $ | 1,042 | $ | 5,797 | $ | 4,766 | $ | 11,605 | ||||||||||||||
Realized gains (losses) | -3 | 53 | 390 | 122 | 562 | |||||||||||||||||||
Unrealized gains (losses) | 3 | -8 | 546 | 525 | 1,066 | |||||||||||||||||||
Transfers in | - | 5 | - | - | 5 | |||||||||||||||||||
Transfers out | - | -442 | - | - | -442 | |||||||||||||||||||
Purchases | - | 75 | 1,214 | 354 | 1,643 | |||||||||||||||||||
Sales | - | -178 | -2,223 | -573 | -2,974 | |||||||||||||||||||
Balance at end of year | $ | - | $ | 547 | $ | 5,724 | $ | 5,194 | $ | 11,465 | ||||||||||||||
Postretirement Assets | Fixed Income Funds | Private Equity Funds | Real Assets | Total | ||||||||||||||||||||
Balance at beginning of year | $ | 21 | $ | 343 | $ | 110 | $ | 474 | ||||||||||||||||
Realized gains (losses) | - | 2 | 12 | 14 | ||||||||||||||||||||
Unrealized gains (losses) | 1 | 58 | 4 | 63 | ||||||||||||||||||||
Transfers in | 1 | - | - | 1 | ||||||||||||||||||||
Transfers out | -1 | - | - | -1 | ||||||||||||||||||||
Purchases | 5 | 89 | 27 | 121 | ||||||||||||||||||||
Sales | -1 | -183 | -42 | -226 | ||||||||||||||||||||
Balance at end of year | $ | 26 | $ | 309 | $ | 111 | $ | 446 | ||||||||||||||||
Estimated Future Benefit Payments | ||||||||||||||||||||||||
Expected benefit payments are estimated using the same assumptions used in determining our benefit obligation at December 31, 2014. Because benefit payments will depend on future employment and compensation levels, average years employed, average life spans, and payment elections, among other factors, changes in any of these factors could significantly affect these expected amounts. The following table provides expected benefit payments under our pension and postretirement plans: | ||||||||||||||||||||||||
Pension Benefits | Postretirement Benefits | |||||||||||||||||||||||
2015 | $ | 5,741 | $ | 2,134 | ||||||||||||||||||||
2016 | 4,184 | 2,063 | ||||||||||||||||||||||
2017 | 4,144 | 2,000 | ||||||||||||||||||||||
2018 | 4,066 | 1,962 | ||||||||||||||||||||||
2019 | 4,010 | 1,952 | ||||||||||||||||||||||
Years 2020 - 2024 | 19,753 | 9,324 | ||||||||||||||||||||||
Supplemental Retirement Plans | ||||||||||||||||||||||||
We also provide certain senior- and middle-management employees with nonqualified, unfunded supplemental retirement and savings plans. While these plans are unfunded, we have assets in a designated nonbankruptcy remote trust that are independently managed and used to provide for these benefits. These plans include supplemental pension benefits as well as compensation-deferral plans, some of which include a corresponding match by us based on a percentage of the compensation deferral. | ||||||||||||||||||||||||
We use the same significant assumptions for the composite rate of compensation increase in determining our projected benefit obligation and the net pension and postemployment benefit cost. Our discount rates of 4.1% at December 31, 2014 and 5.0% at December 31, 2013 were calculated using the same methodologies used in calculating the discount rate for our qualified pension and postretirement benefit plans. The following tables provide the plans' benefit obligations and fair value of assets at December 31 and the components of the supplemental retirement pension benefit cost. The net amounts are recorded as “Other noncurrent liabilities” on our consolidated balance sheets. | ||||||||||||||||||||||||
The following table provides information for our supplemental retirement plans with accumulated benefit obligations in excess of plan assets at December 31: | ||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||
Projected benefit obligation | $ | -2,458 | $ | -2,280 | ||||||||||||||||||||
Accumulated benefit obligation | -2,410 | -2,227 | ||||||||||||||||||||||
Fair value of plan assets | - | - | ||||||||||||||||||||||
The following tables present the components of net periodic benefit cost and other changes in plan assets and benefit obligations recognized in OCI: | ||||||||||||||||||||||||
Net Periodic Benefit Cost | 2014 | 2013 | 2012 | |||||||||||||||||||||
Service cost – benefits earned during the period | $ | 7 | $ | 9 | $ | 10 | ||||||||||||||||||
Interest cost on projected benefit obligation | 109 | 101 | 116 | |||||||||||||||||||||
Amortization of prior service cost (credit) | -1 | - | - | |||||||||||||||||||||
Actuarial (gain) loss | 243 | -106 | 230 | |||||||||||||||||||||
Net supplemental retirement pension cost | $ | 358 | $ | 4 | $ | 356 | ||||||||||||||||||
Other Changes Recognized in Other Comprehensive Income | 2014 | 2013 | 2012 | |||||||||||||||||||||
Prior service (cost) credit | $ | -11 | $ | -1 | $ | -1 | ||||||||||||||||||
Amortization of prior service cost (credit) | -1 | - | - | |||||||||||||||||||||
Total recognized in other comprehensive (income) loss (net of tax) | $ | -12 | $ | -1 | $ | -1 | ||||||||||||||||||
The estimated prior service cost for our supplemental retirement plan benefits that will be amortized from accumulated OCI into net periodic benefit cost over the next fiscal year is $1. | ||||||||||||||||||||||||
Deferred compensation expense was $121 in 2014, $122 in 2013 and $118 in 2012. Our deferred compensation liability, included in “Other noncurrent liabilities,” was $1,156 at December 31, 2014, and $1,118 at December 31, 2013. | ||||||||||||||||||||||||
Contributory Savings Plans | ||||||||||||||||||||||||
We maintain contributory savings plans that cover substantially all employees. Under the savings plans, we match in cash or company stock a stated percentage of eligible employee contributions, subject to a specified ceiling. There are no debt-financed shares held by the Employee Stock Ownership Plans, allocated or unallocated. | ||||||||||||||||||||||||
Our match of employee contributions to the savings plans is fulfilled with purchases of our stock on the open market or company cash. Benefit cost is based on the cost of shares or units allocated to participating employees' accounts and was $654, $654 and $634 for the years ended December 31, 2014, 2013 and 2012. |
ShareBased_Payment
Share-Based Payment | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Share-Based Payment | |||||||||
Share-Based Payment | NOTE 13. SHARE-BASED PAYMENTS | ||||||||
Under our various plans, senior and other management employees and nonemployee directors have received nonvested stock and stock units. We grant performance stock units, which are nonvested stock units, based upon our stock price at the date of grant and award them in the form of AT&T common stock and cash at the end of a three-year period, subject to the achievement of certain performance goals. We treat the cash portion of these awards as a liability. We grant forfeitable restricted stock and stock units, which are valued at the market price of our common stock at the date of grant and vest typically over a two- to seven-year period. We also grant other nonvested stock units and award them in cash at the end of a three-year period, subject to the achievement of certain market based conditions. As of December 31, 2014, we were authorized to issue up to approximately 117 million shares of common stock (in addition to shares that may be issued upon exercise of outstanding options or upon vesting of performance stock units or other nonvested stock units) to officers, employees and directors pursuant to these various plans. | |||||||||
We account for our share-based payment arrangements based on the fair value of the awards on their respective grant date, which may affect our ability to fully realize the value shown on our consolidated balance sheets of deferred tax assets associated with compensation expense. We record a valuation allowance when our future taxable income is not expected to be sufficient to recover the asset. Accordingly, there can be no assurance that the current stock price of our common shares will rise to levels sufficient to realize the entire tax benefit currently reflected on our consolidated balance sheets. However, to the extent we generate excess tax benefits (i.e., that additional tax benefits in excess of the deferred taxes associated with compensation expense previously recognized) the potential future impact on income would be reduced. | |||||||||
The compensation cost recognized for those plans was included in operating expenses in our consolidated statements of income, as reflected in the table below. The total income tax benefit recognized in the consolidated statements of income for share-based payment arrangements was $122 for 2014, compared to $175 for 2013 and $195 for 2012. | |||||||||
2014 | 2013 | 2012 | |||||||
Performance stock units | $ | 226 | $ | 381 | $ | 397 | |||
Restricted stock and stock units | 93 | 80 | 102 | ||||||
Other nonvested stock units | -1 | -3 | 12 | ||||||
Total | $ | 318 | $ | 458 | $ | 511 | |||
A summary of the status of our nonvested stock units as of December 31, 2014, and changes during the year then ended is presented as follows (shares in millions): | |||||||||
Nonvested Stock Units | Shares | Weighted-Average Grant-Date Fair Value | |||||||
Nonvested at January 1, 2014 | 24 | $ | 31.93 | ||||||
Granted | 14 | 33.39 | |||||||
Vested | -11 | 29.91 | |||||||
Forfeited | -1 | 32.6 | |||||||
Nonvested at December 31, 2014 | 26 | $ | 33.52 | ||||||
As of December 31, 2014, there was $425 of total unrecognized compensation cost related to nonvested share-based payment arrangements granted. That cost is expected to be recognized over a weighted-average period of 2.27 years. The total fair value of shares vested during the year was $327 for 2014, compared to $336 for 2013 and $333 for 2012. | |||||||||
It is our policy to satisfy share option exercises using our treasury stock. Cash received from stock option exercises was $43 for 2014, $135 for 2013 and $517 for 2012. |
Stockholders_Equity
Stockholders' Equity | 12 Months Ended |
Dec. 31, 2014 | |
Stockholder's Equity | |
Stockholders' Equity | NOTE 14. STOCKHOLDERS' EQUITY |
Stock Repurchase Program From time to time, we repurchase shares of common stock for distribution through our employee benefit plans or in connection with certain acquisitions. In December 2010, our Board of Directors authorized the repurchase of 300 million shares of our common stock. We began buying back stock under this program in 2012 and completed the purchase of authorized shares that year. In July 2012, our Board of Directors approved a second authorization to repurchase 300 million shares and we completed that program in May 2013. In March 2013, our Board of Directors approved a third authorization to repurchase 300 million shares, under which we repurchased shares during 2014. In March 2014, our Board of Directors approved a fourth authorization to repurchase up to 300 million shares of our common stock. For the year ended December 31, 2014, we had repurchased approximately 48 million shares totaling $1,617 under these authorizations. For the year ended December 31, 2013, we had repurchased approximately 366 million shares totaling $13,028 under these authorizations. Upon completing our acquisition of DIRECTV, our priority will be to use free cash flow (operating cash flows less construction and capital expenditures) after dividends to pay down debt. | |
To implement these authorizations, we use open market repurchase programs, relying on Rule 10b5-1 of the Securities Exchange Act of 1934 where feasible. We also use accelerated share repurchase programs with large financial institutions to repurchase our stock. | |
Authorized Shares There are 14 billion authorized common shares of AT&T stock and 10 million authorized preferred shares of AT&T stock. As of December 31, 2014 and 2013, no preferred shares were outstanding. | |
Dividend Declarations In December 2014, the Company declared an increase in its quarterly dividend to $0.47 per share of common stock. In December 2013, the Company declared a quarterly dividend of $0.46 per share of common stock, which reflected an increase from the $0.45 quarterly dividend declared in November 2012. | |
Preferred Equity Interest The preferred equity interest discussed in Note 12 is not transferable by the trust except through its put and call features, and therefore has been eliminated in consolidation. After a period of five years from the contribution or, if earlier, the date upon which the pension plan trust is fully funded as determined under GAAP, AT&T has a right to purchase from the pension plan trust some or all of the preferred equity interest at the greater of their fair market value or minimum liquidation value plus any unpaid cumulative dividends. In addition, AT&T will have the right to purchase the preferred equity interest in the event AT&T's ownership of Mobility is less than 50% or there is a transaction that results in the transfer of 50% or more of the pension plan trust's assets to an entity not under common control with AT&T (collectively, a change of control). The pension plan trust has the right to require AT&T to purchase the preferred equity interest at the greater of their fair market value or minimum liquidation value plus any unpaid cumulative dividends, and in installments, as specified in the contribution agreement upon the occurrence of any of the following: (1) at any time if the ratio of debt to total capitalization of Mobility exceeds that of AT&T, (2) the date on which AT&T Inc. is rated below investment grade for two consecutive calendar quarters, (3) upon a change of control if AT&T does not exercise its purchase option, or (4) at any time after a seven-year period from the contribution date. In the event AT&T elects or is required to purchase the preferred equity interest, AT&T may elect to settle the purchase price in cash or shares of AT&T common stock or a combination thereof. Because the preferred equity interest was not considered outstanding for accounting purposes at year-end, it did not affect the calculation of earnings per share. |
Additional_Financial_Informati
Additional Financial Information | 12 Months Ended | |||||||||
Dec. 31, 2014 | ||||||||||
Additional Financial Information [Abstract] | ||||||||||
Additional Financial Information | NOTE 15. ADDITIONAL FINANCIAL INFORMATION | |||||||||
December 31, | ||||||||||
Consolidated Balance Sheets | 2014 | 2013 | ||||||||
Accounts payable and accrued liabilities: | ||||||||||
Accounts payable | $ | 14,984 | $ | 11,561 | ||||||
Accrued payroll and commissions | 1,967 | 1,985 | ||||||||
Current portion of employee benefit obligation | 1,842 | 1,949 | ||||||||
Accrued interest | 1,597 | 1,559 | ||||||||
Other | 3,202 | 4,053 | ||||||||
Total accounts payable and accrued liabilities | $ | 23,592 | $ | 21,107 | ||||||
Consolidated Statements of Income | 2014 | 2013 | 2012 | |||||||
Advertising expense | $ | 3,272 | $ | 3,268 | $ | 2,910 | ||||
Interest expense incurred | $ | 3,847 | $ | 4,224 | $ | 3,707 | ||||
Capitalized interest | -234 | -284 | -263 | |||||||
Total interest expense | $ | 3,613 | $ | 3,940 | $ | 3,444 | ||||
Consolidated Statements of Cash Flows | 2014 | 2013 | 2012 | |||||||
Cash paid during the year for: | ||||||||||
Interest | $ | 4,099 | $ | 4,302 | $ | 3,714 | ||||
Income taxes, net of refunds | 1,532 | 1,985 | 458 | |||||||
No customer accounted for more than 10% of consolidated revenues in 2014, 2013 or 2012. | ||||||||||
Labor Contracts As of January 31, 2015, we employed approximately 253,000 persons. Approximately 53 percent of our employees are represented by the Communications Workers of America, the International Brotherhood of Electrical Workers or other unions. Contracts covering approximately 41,000 non-Mobility employees will expire during 2015, including approximately 12,000 traditional wireline employees in our five-state Midwest region and 24,000 in our nine-state Southeast region. After expiration of the current agreements, work stoppages or labor disruptions may occur in the absence of new contracts or other agreements being reached. | ||||||||||
Sale_of_Equipment_Installment_
Sale of Equipment Installment Receivables | 12 Months Ended | ||||||
Dec. 31, 2014 | |||||||
Changes In Other Assets [Abstract] | |||||||
Finance Receivables Disclosure[Text Block] | NOTE 16. SALES OF EQUIPMENT INSTALLMENT RECEIVABLES | ||||||
We offer our customers the option to purchase certain wireless devices in installments over a period of up to 30 months, with the right to trade in the original equipment for a new device within a set period and have the remaining unpaid balance satisfied. As of December 31, 2014 and 2013, gross equipment installment receivables of $4,265 and $921 were included on our consolidated balance sheets, of which $2,514 and $606 are notes receivable that are included in “Accounts receivable, net.” | |||||||
On June 27, 2014, we entered into uncommitted agreements pertaining to the sale of equipment installment receivables and related security with Citibank, N.A. and various other relationship banks as purchasers (collectively, the Purchasers) with a funding amount not expected to exceed $2,000 at any given time. Under the agreement, we may transfer the receivables to the Purchasers for cash and additional consideration upon settlement of the receivables. Under the terms of the arrangement, we continue to bill and collect on behalf of our customers for the receivables sold. | |||||||
The following table sets forth a summary of equipment installment receivables sold during 2014: | |||||||
2014 | |||||||
Net receivables sold1 | $ | 4,126 | |||||
Cash proceeds received | 2,528 | ||||||
Deferred purchase price recorded | 1,629 | ||||||
1 | Gross receivables sold were $4,707, before deducting the allowance, imputed interest and trade-in right guarantees. | ||||||
The deferred purchase price was initially recorded at estimated fair value, which was based on remaining installment payments expected to be collected, adjusted by the expected timing and value of device trade-ins, and is subsequently carried at the lower of cost or net realizable value. The estimated value of the device trade-ins considers prices offered to us by independent third parties that contemplate changes in value after the launch of a device model. The fair value measurements used are considered Level 3 under the Fair Value Measurement and Disclosure framework (see Note 10). | |||||||
At December 31, 2014, our deferred purchase price receivable was $1,606, which is included in “Other Assets” on our consolidated balance sheets. Our maximum exposure to loss as a result of selling these equipment installment receivables is limited to the amount of our deferred purchase price at any point in time. | |||||||
The sales of equipment installment receivables did not have a material impact in our consolidated statements of income or to “Total Assets” reported on our consolidated balance sheets. We reflect the cash flows related to the arrangement as operating activities in our consolidated statements of cash flows because the cash received from the Purchasers upon both the sale of the receivables and the collection of the deferred purchase price is not subject to significant interest rate risk. |
Tower_Transaction
Tower Transaction | 12 Months Ended |
Dec. 31, 2014 | |
Other Liabilities | |
Other Liabilities Disclosure | NOTE 17. TOWER TRANSACTION |
On December 16, 2013, we closed our transaction with Crown Castle International Corp. (Crown Castle) in which Crown Castle gained the exclusive rights to lease and operate 9,048 wireless towers and purchased 627 of our wireless towers for $4,827 in cash. The leases have various terms with an average length of approximately 28 years. As the leases expire, Crown Castle will have fixed price purchase options for these towers totaling approximately $4,200, based on their estimated fair market values at the end of the lease terms. We sublease space on the towers from Crown Castle for an initial term of 10 years at current market rates, subject to optional renewals in the future. | |
We determined our continuing involvement with the tower assets prevented us from achieving sale-leaseback accounting for the transaction, and we accounted for the cash proceeds from Crown Castle as a financing obligation on our consolidated balance sheets. We record interest on the financing obligation using the effective interest method at a rate of approximately 3.90%. The financing obligation is increased by interest expense and estimated future net cash flows generated and retained by Crown Castle from operation of the tower sites, and reduced by our contractual payments. We continue to include the tower assets in Property, plant and equipment in our consolidated balance sheets and depreciate them accordingly. At December 31, 2014 and 2013, the tower assets had a balance of $999 and $1,039, respectively. Our depreciation expense for these assets was $39 for 2014. The impact of the transaction on our operating results for the year ended December 31, 2013, was not material. | |
Lease payments under the sublease arrangements were $221 for 2014. At December 31, 2014, the future minimum payments under the sublease arrangement are $225 for 2015, $229 for 2016, $234 for 2017, $239 for 2018, $244 for 2019, and $2,553 thereafter. |
Contingent_Liabilities
Contingent Liabilities | 12 Months Ended |
Dec. 31, 2014 | |
Contingent Liabilities | |
Contingent Liabilities | NOTE 18. CONTINGENT LIABILITIES |
We are party to numerous lawsuits, regulatory proceedings and other matters arising in the ordinary course of business. In evaluating these matters on an ongoing basis, we take into account amounts already accrued on the balance sheet. In our opinion, although the outcomes of these proceedings are uncertain, they should not have a material adverse effect on our financial position, results of operations or cash flows. | |
We have contractual obligations to purchase certain goods or services from various other parties. Our purchase obligations are expected to be approximately $19,129 in 2015, $21,386 in total for 2016 and 2017, $2,518 in total for 2018 and 2019 and $691 in total for years thereafter. | |
See Note 10 for a discussion of collateral and credit-risk contingencies. |
Quarterly_Financial_Informatio
Quarterly Financial Information (Unaudited) | 12 Months Ended | |||||||||||||||
Dec. 31, 2014 | ||||||||||||||||
Quarterly Financial Information (Unaudited) | ||||||||||||||||
Quarterly Financial Information (Unaudited) | NOTE 19. QUARTERLY FINANCIAL INFORMATION (UNAUDITED) | |||||||||||||||
The following tables represent our quarterly financial results: | ||||||||||||||||
2014 Calendar Quarter | ||||||||||||||||
First | Second | Third | Fourth2 | Annual | ||||||||||||
Total Operating Revenues | $ | 32,476 | $ | 32,575 | $ | 32,957 | $ | 34,439 | $ | 132,447 | ||||||
Operating Income (Loss) | 6,278 | 5,616 | 5,402 | -5,550 | 11,746 | |||||||||||
Net Income (Loss) | 3,734 | 3,621 | 3,059 | -3,896 | 6,518 | |||||||||||
Net Income (Loss) Attributable to AT&T | 3,652 | 3,547 | 3,002 | -3,977 | 6,224 | |||||||||||
Basic Earnings (Loss) Per Share | ||||||||||||||||
Attributable to AT&T1 | $ | 0.7 | $ | 0.68 | $ | 0.58 | $ | -0.77 | $ | 1.19 | ||||||
Diluted Earnings (Loss) Per Share | ||||||||||||||||
Attributable to AT&T1 | $ | 0.7 | $ | 0.68 | $ | 0.58 | $ | -0.77 | $ | 1.19 | ||||||
Stock Price | ||||||||||||||||
High | $ | 35.5 | $ | 36.86 | $ | 37.48 | $ | 36.16 | ||||||||
Low | 31.74 | 34.32 | 34.17 | 32.07 | ||||||||||||
Close | 35.07 | 35.36 | 35.24 | 33.59 | ||||||||||||
1 | Quarterly earnings per share impacts may not add to full-year earnings per share impacts due to the difference in weighted-average | |||||||||||||||
common shares for the quarters versus the weighted-average common shares for the year. | ||||||||||||||||
2 | Includes an actuarial loss on pension and postretirement benefit plans (Note 12) and asset abandonment charges (Note 6). | |||||||||||||||
2013 Calendar Quarter | ||||||||||||||||
First | Second | Third | Fourth2 | Annual | ||||||||||||
Total Operating Revenues | $ | 31,356 | $ | 32,075 | $ | 32,158 | $ | 33,163 | $ | 128,752 | ||||||
Operating Income | 5,940 | 6,113 | 6,188 | 12,238 | 30,479 | |||||||||||
Net Income | 3,773 | 3,880 | 3,905 | 6,995 | 18,553 | |||||||||||
Net Income Attributable to AT&T | 3,700 | 3,822 | 3,814 | 6,913 | 18,249 | |||||||||||
Basic Earnings Per Share Attributable | ||||||||||||||||
to AT&T1 | $ | 0.67 | $ | 0.71 | $ | 0.72 | $ | 1.31 | $ | 3.39 | ||||||
Diluted Earnings Per Share Attributable | ||||||||||||||||
to AT&T1 | $ | 0.67 | $ | 0.71 | $ | 0.72 | $ | 1.31 | $ | 3.39 | ||||||
Stock Price | ||||||||||||||||
High | $ | 36.87 | $ | 39 | $ | 36.31 | $ | 36.8 | ||||||||
Low | 32.76 | 34.1 | 33.19 | 33.09 | ||||||||||||
Close | 36.69 | 35.4 | 33.82 | 35.16 | ||||||||||||
1 | Quarterly earnings per share impacts may not add to full-year earnings per share impacts due to the difference in weighted-average | |||||||||||||||
common shares for the quarters versus the weighted-average common shares for the year. | ||||||||||||||||
2 | Includes an actuarial gain on pension and postretirement benefit plans (Note 12), special termination charges (Note 12) and charges for employee separations. |
Valuation_And_Qualifying_Accou
Valuation And Qualifying Accounts | 12 Months Ended | ||||||||||
Dec. 31, 2014 | |||||||||||
Valuation And Qualifying Accounts | |||||||||||
Valuation And Qualifying Accounts | |||||||||||
Schedule II - Sheet 1 | |||||||||||
AT&T INC. | |||||||||||
SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS | |||||||||||
Allowance for Doubtful Accounts | |||||||||||
Dollars in Millions | |||||||||||
COL. A | COL. B | COL. C | COL. D | COL. E | |||||||
Additions | |||||||||||
-1 | -2 | -3 | |||||||||
Balance at | Charged to | Charged to | |||||||||
Beginning of | Costs and | Other | Balance at End | ||||||||
Period | Expenses (a) | Accounts (b) | Acquisitions | Deductions (c) | of Period | ||||||
Year 2014 | $ | 483 | 1,032 | -32 | - | 1,029 | $ | 454 | |||
Year 2013 | $ | 547 | 954 | -30 | - | 988 | $ | 483 | |||
Year 2012 | $ | 878 | 1,117 | 48 | - | 1,496 | $ | 547 | |||
(a) Includes amounts previously written off which were credited directly to this account when recovered. | |||||||||||
Excludes direct charges and credits to expense for nontrade receivables on the consolidated statements | |||||||||||
of income. | |||||||||||
(b) Includes amounts related to long-distance carrier receivables which were billed by AT&T. | |||||||||||
(c) Amounts written off as uncollectible, or related to divested entities. | |||||||||||
Summary_Of_Significant_Account1
Summary Of Significant Accounting Policies (Policy) | 12 Months Ended |
Dec. 31, 2014 | |
Summary Of Significant Accounting Policies | |
Basis Of Presentation | NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES |
Basis of Presentation Throughout this document, AT&T Inc. is referred to as “AT&T,” “we” or the “Company.” 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 less than majority-owned subsidiaries and partnerships where we have significant influence are accounted for under the equity method. Earnings from certain investments accounted for using the equity method are included for periods ended within up to one month of our year end (see Note 8). We also recorded 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. | |
New Accounting Standards | New Accounting Standards In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update No. 2014-09, “Revenue from Contracts with Customers (Topic 606)” (ASU 2014-09), which replaces existing revenue recognition rules with a comprehensive revenue measurement and recognition standard and expanded disclosure requirements. Upon initial evaluation, we believe the key changes in the standard that impact our revenue recognition relate to the allocation of contract revenues between service and equipment, and the timing in which those revenues are recognized. ASU 2014-09 also specifies that all incremental costs of obtaining and direct costs of fulfilling our contracts with customers should be deferred and recognized over the contract period or expected customer life. Currently, we generally defer such costs only up to an amount equal to any related deferred revenue. ASU 2014-09 becomes effective for annual reporting periods beginning after December 15, 2016. |
The FASB will allow two adoption methods under ASU 2014-09. Under one method, a company will apply the rules to contracts in all reporting periods presented, subject to certain allowable exceptions. Under the other method, a company will apply the rules to all contracts existing as of January 1, 2017, recognizing in beginning retained earnings an adjustment for the cumulative effect of the change and provide additional disclosures comparing results to previous rules. We continue to evaluate the impact of the new standard and available adoption methods. | |
Income Taxes | Income Taxes We provide deferred income taxes for temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the computed tax basis of those assets and liabilities. We provide valuation allowances against the deferred tax assets for which the realization is uncertain. We review these items regularly in light of changes in federal and state tax laws and changes in our business. |
Cash And Cash Equivalents | Cash and Cash Equivalents Cash and cash equivalents include all highly liquid investments with original maturities of three months or less. The carrying amounts approximate fair value. |
Revenue Recognition | Revenue Recognition Revenues derived from wireless, local telephone, long distance, data and video services are recognized when services are provided. This is based upon either usage (e.g., minutes of traffic/bytes of data processed), period of time (e.g., monthly service fees) or other established fee schedules. Our service revenues are billed either in advance, arrears or are prepaid. |
We record revenue reductions for estimated future adjustments to customer accounts, other than bad debt expense, at the time revenue is recognized based on historical experience. Service revenues include billings to our customers for various regulatory fees imposed on us by governmental authorities. We report revenues from transactions between us and our customers net of taxes the government authorities require us to collect from our customers in our consolidated statements of income. Cash incentives given to customers are recorded as a reduction of revenue. Revenues and associated expenses related to nonrefundable, upfront service activation and setup fees are deferred and recognized over the associated service contract period or customer life. Generally, associated expenses are deferred only up to the amount of deferred revenue. Revenue recognized from contracts that bundle services and equipment is limited to the lesser of the amount allocated based on the relative selling price of the equipment and service already delivered or the amount paid and owed by the customer for the equipment and service already delivered. We record the sale of equipment to customers when we no longer have any requirements to perform, when title is passed and when the products are accepted by customers. We record the sale of equipment and services to customers as gross revenue when we are the principal in the arrangement and net of the associated costs incurred when we are not considered the principal in the arrangement. | |
We offer to our customers the option to purchase certain wireless devices in installments over a period of up to 30 months, with the right to trade in the original equipment for a new device, within a set period, and have the remaining unpaid balance satisfied. For customers that elect these trade-in programs, we recognize revenue for the entire amount of the customer receivable, net of the fair value of the trade-in right guarantee and imputed interest. See Note 16 for additional information, including the sales of our equipment installment receivables. | |
Allowance For Doubtful Accounts | Allowance for Doubtful Accounts We record expense to maintain an allowance for doubtful accounts for estimated losses that result from the failure or inability of our customers to make required payments deemed collectable from the customer when the service was provided or product was delivered. When determining the allowance, we consider the probability of recoverability of accounts receivable based on past experience, taking into account current collection trends as well as general economic factors, including bankruptcy rates. Credit risks are assessed based on historical write-offs, net of recoveries, as well as an analysis of the aged accounts receivable balances with allowances generally increasing as the receivable ages. Accounts receivable may be fully reserved for when specific collection issues are known to exist, such as pending bankruptcy or catastrophes. |
Inventory | Inventory Inventories, which are included in “Other current assets” on our consolidated balance sheets, were $1,933 at December 31, 2014, and $1,148 at December 31, 2013. Wireless devices and accessories, which are valued at the lower of cost or market (determined using current replacement cost) were $1,858 at December 31, 2014, and $1,031 at December 31, 2013. |
Property, Plant and Equipment | Property, Plant and Equipment Property, plant and equipment is stated at cost, except for assets acquired using acquisition accounting, which are initially recorded at fair value (see Note 6). The balance as of December 31, 2013, excluded amounts classified as held for sale (see Note 5). The cost of additions and substantial improvements to property, plant and equipment is capitalized, and includes internal compensation costs for these projects; however, noncash actuarial gains or losses included in compensation costs are excluded from amounts reported as “capital expenditures.” The cost of maintenance and repairs of property, plant and equipment is charged to operating expenses. Property, plant and equipment costs are depreciated using straight-line methods over their estimated economic lives. Certain subsidiaries follow composite group depreciation methodology. Accordingly, when a portion of their depreciable property, plant and equipment is retired in the ordinary course of business, the gross book value is reclassified to accumulated depreciation, and no gain or loss is recognized on the disposition of these assets. |
Property, plant and equipment is reviewed for recoverability whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. We recognize an impairment loss when the carrying amount of a long-lived asset is not recoverable. The carrying amount of a long-lived asset is not recoverable if it exceeds the sum of the undiscounted cash flows expected to result from the use and eventual disposition of the asset. | |
The fair value of a liability for an asset retirement obligation is recorded in the period in which it is incurred if a reasonable estimate of fair value can be made. In periods subsequent to initial measurement, we recognize period-to-period changes in the liability resulting from the passage of time and revisions to either the timing or the amount of the original estimate. The increase in the carrying value of the associated long-lived asset is depreciated over the corresponding estimated economic life. | |
Software Costs | Software Costs It is our policy to capitalize certain costs incurred in connection with developing or obtaining internal-use software. Capitalized software costs are included in “Property, Plant and Equipment” on our consolidated balance sheets. |
Goodwill And Other Intangible Assets | Goodwill and Other Intangible Assets AT&T has four major classes of intangible assets: goodwill, Federal Communications Commission (FCC) licenses, other indefinite-lived intangible assets, made up predominately of the AT&T brand, and various other finite-lived intangible assets (see Note 7). |
Goodwill represents the excess of consideration paid over the fair value of net assets acquired in business combinations. FCC licenses provide us with the exclusive right to utilize certain radio frequency spectrum to provide wireless communications services. While FCC licenses are issued for a fixed period of time (generally 10 years), renewals of FCC licenses have occurred routinely and at nominal cost. Moreover, we have determined that there are currently no legal, regulatory, contractual, competitive, economic or other factors that limit the useful lives of our FCC licenses. We acquired the rights to the AT&T and other brand names in previous acquisitions. We have the effective ability to retain these exclusive rights permanently at a nominal cost. | |
Goodwill, FCC licenses and other indefinite-lived intangible assets are not amortized but are tested at least annually for impairment. The testing is performed on the value as of October 1 each year, and compares the book value of the assets to their fair value. Goodwill is tested by comparing the book value of each reporting unit, deemed to be our principal operating segments (Wireless and Wireline), to the fair value of those reporting units calculated using a discounted cash flow approach as well as a market multiple approach. FCC licenses are tested for impairment on an aggregate basis, consistent with the management of the business on a national scope. We perform our test of the fair values of FCC licenses using a discounted cash flow approach. Brand names are tested by comparing the book value to a fair value calculated using a discounted cash flow approach on a presumed royalty rate derived from the revenues related to the brand name. | |
Intangible assets that have finite useful lives are amortized over their useful lives (see Note 7). Customer lists and relationships are amortized using primarily the sum-of-the-months-digits method of amortization over the period in which those relationships are expected to contribute to our future cash flows. The remaining finite-lived intangible assets are generally amortized using the straight-line method. | |
Advertising Costs | Advertising Costs We expense advertising costs for advertising products and services or for promoting our corporate image as we incur them (see Note 15). |
Traffic Compensation Expense | Traffic Compensation Expense We use various estimates and assumptions to determine the amount of traffic compensation expense recognized during any reporting period. Switched traffic compensation costs are accrued utilizing estimated rates and volumes by product, formulated from historical data and adjusted for known rate changes. Such estimates are adjusted monthly to reflect newly available information, such as rate changes and new contractual agreements. Bills reflecting actual incurred information are generally not received within three months subsequent to the end of the reporting period, at which point a final adjustment is made to the accrued switched traffic compensation expense. Dedicated traffic compensation costs are estimated based on the number of circuits and the average projected circuit costs. |
Foreign Currency Translation | Foreign Currency Translation We are exposed to foreign currency exchange risk through our foreign affiliates and equity investments in foreign companies. Our foreign subsidiaries and foreign investments generally report their earnings in their local currencies. We translate our share of their foreign assets and liabilities at exchange rates in effect at the balance sheet dates. We translate our share of their revenues and expenses using average rates during the year. The resulting foreign currency translation adjustments are recorded as a separate component of accumulated other comprehensive income (accumulated OCI) in the accompanying consolidated balance sheets (see Note 3). We do not hedge foreign currency translation risk in the net assets and income we report from these sources. However, we do hedge a portion of the foreign currency exchange risk involved in anticipation of highly probable foreign currency-denominated transactions, which we explain further in our discussion of our methods of managing our foreign currency risk (see Note 10). |
Pension And Other Postretirement Benefits | Pension and Other Postretirement Benefits See Note 12 for a comprehensive discussion of our pension and postretirement benefit expense, including a discussion of the actuarial assumptions, our policy for recognizing the associated gains and losses and our method used to estimate service and interest cost components. |
Recovered_Sheet1
Fair Value Measurements and Disclosure (Policy) | 12 Months Ended |
Dec. 31, 2014 | |
Derivatives Policy [Abstract] | |
Derivatives netting policy | 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. |
Pension_And_Postretirement_Ben1
Pension And Postretirement Benefits (Policy) | 12 Months Ended |
Dec. 31, 2014 | |
Pension And Postretirement Benefits | |
Recognition of actuarial gains and losses | In the fourth quarter of 2014, we changed the method we use to estimate the service and interest components of net periodic benefit cost for pension and other postretirement benefits. This change compared to the previous method resulted in a decrease in the service and interest components for pension cost in the fourth quarter. Historically, we estimated these service and interest cost components utilizing a single weighted-average discount rate derived from the yield curve used to measure the benefit obligation at the beginning of the period. We have elected to utilize a full yield curve approach in the estimation of these components by applying the specific spot rates along the yield curve used in the determination of the benefit obligation to the relevant projected cash flows. We have made this change to provide a more precise measurement of service and interest costs by improving the correlation between projected benefit cash flows to the corresponding spot yield curve rates. This change does not affect the measurement of our total benefit obligations or our annual net periodic benefit cost as the change in the service and interest costs is completely offset in the actuarial (gain) loss reported. We have accounted for this change as a change in accounting estimate that is inseparable from a change in accounting principle and accordingly have accounted for it prospectively. |
We recognize gains and losses on pension and postretirement plan assets and obligations immediately in our operating results. These gains and losses are measured annually as of December 31 and accordingly will be recorded during the fourth quarter, unless earlier remeasurements are required. | |
Capitalization of benefit plan costs | A portion of pension and postretirement benefit costs is capitalized as part of the benefit load on internal construction and capital expenditures, providing a small reduction in the net expense recorded. |
Earnings_Per_Share_Tables
Earnings Per Share (Tables) | 12 Months Ended | |||||||||
Dec. 31, 2014 | ||||||||||
Earnings Per Share | ||||||||||
Reconciliation Of The Numerators And Denominators Of Basic Earnings Per Share And Diluted Earnings Per Share | Year Ended December 31, | 2014 | 2013 | 2012 | ||||||
Numerators | ||||||||||
Numerator for basic earnings per share: | ||||||||||
Net income | $ | 6,518 | $ | 18,553 | $ | 7,539 | ||||
Less: Net income attributable to noncontrolling interest | -294 | -304 | -275 | |||||||
Net income attributable to AT&T | 6,224 | 18,249 | 7,264 | |||||||
Dilutive potential common shares: | ||||||||||
Share-based payment | 13 | 12 | 12 | |||||||
Numerator for diluted earnings per share | $ | 6,237 | $ | 18,261 | $ | 7,276 | ||||
Denominators (000,000) | ||||||||||
Denominator for basic earnings per share: | ||||||||||
Weighted-average number of common shares outstanding | 5,205 | 5,368 | 5,801 | |||||||
Dilutive potential common shares: | ||||||||||
Share-based payment (in shares) | 16 | 17 | 20 | |||||||
Denominator for diluted earnings per share | 5,221 | 5,385 | 5,821 | |||||||
Basic earnings per share attributable to AT&T | $ | 1.19 | $ | 3.39 | $ | 1.25 | ||||
Diluted earnings per share attributable to AT&T | $ | 1.19 | $ | 3.39 | $ | 1.25 |
Accumulated_Other_Comprehensiv1
Accumulated Other Comprehensive Income (Tables) | 12 Months Ended | |||||||||||||||
Dec. 31, 2014 | ||||||||||||||||
Accumulated Other Comprehensive Income [Abstract] | ||||||||||||||||
Accumulated Other Comprehensive Income | At December 31, 2014 and 2013 and for the years 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 (loss) before reclassifications | -138 | 257 | 525 | 2,765 | 3,409 | |||||||||||
Amounts reclassified from accumulated OCI | 55 | 1 | -79 | 2 | 30 | 3 | -771 | 4 | -765 | |||||||
Net other comprehensive income (loss) | -83 | 178 | 555 | 1,994 | 2,644 | |||||||||||
Balance as of December 31, 2013 | -367 | 450 | 445 | 7,352 | 7,880 | |||||||||||
Other comprehensive income (loss) before reclassifications | -75 | 64 | 260 | 428 | 677 | |||||||||||
Amounts reclassified from accumulated OCI | 416 | 1 | -16 | 2 | 36 | 3 | -933 | 4 | -497 | |||||||
Net other comprehensive income (loss) | 341 | 48 | 296 | -505 | 180 | |||||||||||
Balance as of December 31, 2014 | $ | -26 | $ | 498 | $ | 741 | $ | 6,847 | $ | 8,060 | ||||||
1 | Translation (gain) loss reclassifications are included in Other income (expense) - net in the consolidated statements of income. | |||||||||||||||
2 | (Gains) losses are included in Other income (expense) - net in the consolidated statements of income. | |||||||||||||||
3 | (Gains) losses are included in interest expense in the consolidated statements of income. See Note 10 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 12). 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) | 12 Months Ended | ||||||||||||||
Dec. 31, 2014 | |||||||||||||||
Segment Information | |||||||||||||||
Summary Of Operating Revenues And Expenses By Segment | Segment Results, including a reconciliation to AT&T consolidated results, for 2014, 2013, and 2012 are as follows: | ||||||||||||||
At December 31, 2014 and for the year ended | Wireline | Advertising Solutions | Corporate and Other | Consolidated Results | |||||||||||
Wireless | |||||||||||||||
Service | $ | 61,032 | $ | 57,405 | $ | - | $ | - | $ | 118,437 | |||||
Equipment | 12,960 | 1,020 | - | 30 | 14,010 | ||||||||||
Total segment operating revenues | 73,992 | 58,425 | - | 30 | 132,447 | ||||||||||
Operations and support expenses | 48,924 | 42,471 | - | 11,033 | 102,428 | ||||||||||
Depreciation and amortization expenses | 7,941 | 10,323 | - | 9 | 18,273 | ||||||||||
Total segment operating expenses | 56,865 | 52,794 | - | 11,042 | 120,701 | ||||||||||
Segment operating income (loss) | 17,127 | 5,631 | - | -11,012 | 11,746 | ||||||||||
Interest expense | - | - | - | 3,613 | 3,613 | ||||||||||
Equity in net income (loss) of affiliates | -112 | - | - | 287 | 175 | ||||||||||
Other income (expense) – net | - | - | - | 1,652 | 1,652 | ||||||||||
Segment income (loss) before income taxes | $ | 17,015 | $ | 5,631 | $ | - | $ | -12,686 | $ | 9,960 | |||||
Segment Assets | $ | 156,317 | $ | 121,794 | $ | - | $ | 14,718 | $ | 292,829 | |||||
Investments in equity method affiliates | - | - | - | 250 | 250 | ||||||||||
Expenditures for additions to long-lived assets | 11,383 | 10,044 | - | 6 | 21,433 | ||||||||||
At December 31, 2013 and for the year ended | Advertising Solutions | Corporate and Other | Consolidated Results | ||||||||||||
Wireless | Wireline | ||||||||||||||
Service | $ | 61,552 | $ | 57,700 | $ | - | $ | - | $ | 119,252 | |||||
Equipment | 8,347 | 1,114 | - | 39 | 9,500 | ||||||||||
Total segment operating revenues | 69,899 | 58,814 | - | 39 | 128,752 | ||||||||||
Operations and support expenses | 44,508 | 41,638 | - | -6,268 | 79,878 | ||||||||||
Depreciation and amortization expenses | 7,468 | 10,907 | - | 20 | 18,395 | ||||||||||
Total segment operating expenses | 51,976 | 52,545 | - | -6,248 | 98,273 | ||||||||||
Segment operating income | 17,923 | 6,269 | - | 6,287 | 30,479 | ||||||||||
Interest expense | - | - | - | 3,940 | 3,940 | ||||||||||
Equity in net income (loss) of affiliates | -75 | 2 | - | 715 | 642 | ||||||||||
Other income (expense) – net | - | - | - | 596 | 596 | ||||||||||
Segment income before income taxes | $ | 17,848 | $ | 6,271 | $ | - | $ | 3,658 | $ | 27,777 | |||||
Segment Assets | $ | 141,196 | $ | 123,714 | $ | - | $ | 12,877 | $ | 277,787 | |||||
Investments in equity method affiliates | 61 | - | - | 3,799 | 3,860 | ||||||||||
Expenditures for additions to long-lived assets | 11,191 | 10,036 | - | 1 | 21,228 | ||||||||||
For the year ended December 31, 2012 | Advertising Solutions | Corporate and Other | Consolidated Results | ||||||||||||
Wireless | Wireline | ||||||||||||||
Service | $ | 59,186 | $ | 58,271 | $ | 1,049 | $ | - | $ | 118,506 | |||||
Equipment | 7,577 | 1,302 | - | 49 | 8,928 | ||||||||||
Total segment operating revenues | 66,763 | 59,573 | 1,049 | 49 | 127,434 | ||||||||||
Operations and support expenses | 43,296 | 41,207 | 773 | 11,018 | 96,294 | ||||||||||
Depreciation and amortization expenses | 6,873 | 11,123 | 106 | 41 | 18,143 | ||||||||||
Total segment operating expenses | 50,169 | 52,330 | 879 | 11,059 | 114,437 | ||||||||||
Segment operating income (loss) | 16,594 | 7,243 | 170 | -11,010 | 12,997 | ||||||||||
Interest expense | - | - | - | 3,444 | 3,444 | ||||||||||
Equity in net income (loss) of affiliates | -62 | -1 | - | 815 | 752 | ||||||||||
Other income (expense) – net | - | - | - | 134 | 134 | ||||||||||
Segment income (loss) before income taxes | $ | 16,532 | $ | 7,242 | $ | 170 | $ | -13,505 | $ | 10,439 |
Acquisitions_Dispositions_And_1
Acquisitions, Dispositions And Other Adjustments (Tables) | 12 Months Ended | ||
Dec. 31, 2014 | |||
Acquisitions, Dispositions And Other Adjustments | |||
Balance Sheet of Disposal Group | Assets held for sale: | ||
Current assets | $ | 155 | |
Property, plant and equipment - net | 1,289 | ||
Goodwill | 799 | ||
Other assets | 17 | ||
Total assets | $ | 2,260 | |
Liabilities related to assets held for sale: | |||
Current liabilities | $ | 128 | |
Noncurrent liabilities | 480 | ||
Total liabilities | $ | 608 |
Property_Plant_And_Equipment_T
Property, Plant And Equipment (Tables) | 12 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
Property, Plant And Equipment | ||||||||
Summary Of Property, Plant And Equipment | Lives (years) | 2014 | 2013 | |||||
Land | - | $ | 1,567 | $ | 1,523 | |||
Buildings and improvements | Oct-44 | 32,204 | 31,485 | |||||
Central office equipment1 | 10-Mar | 89,857 | 86,370 | |||||
Cable, wiring and conduit | 15-50 | 72,766 | 76,107 | |||||
Other equipment | 15-Mar | 74,244 | 67,887 | |||||
Software | Mar-52 | 8,604 | 8,150 | |||||
Under construction | - | 3,053 | 3,276 | |||||
282,295 | 274,798 | |||||||
Accumulated depreciation and amortization | 169,397 | 163,830 | ||||||
Property, plant and equipment - net | $ | 112,898 | $ | 110,968 | ||||
1 | Includes certain network software. | |||||||
2 | Reflects extended estimated useful life (see Note 1). |
Goodwill_And_Other_Intangible_1
Goodwill And Other Intangible Assets (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Goodwill And Other Intangible Assets | |||||||||||||
Summary Of Changes In Carrying Amount Of Goodwill, By Segment | Wireless | Wireline | Total | ||||||||||
Balance as of January 1, 2013 | $ | 35,803 | $ | 33,970 | $ | 69,773 | |||||||
Goodwill acquired | 305 | - | 305 | ||||||||||
Held for sale | - | -799 | -799 | ||||||||||
Other | -2 | -4 | -6 | ||||||||||
Balance as of December 31, 2013 | 36,106 | 33,167 | 69,273 | ||||||||||
Goodwill acquired | 367 | - | 367 | ||||||||||
Other | -4 | 56 | 52 | ||||||||||
Balance as of December 31, 2014 | $ | 36,469 | $ | 33,223 | $ | 69,692 | |||||||
Schedule Of Amortized Intangible Assets | 31-Dec-14 | 31-Dec-13 | |||||||||||
Other Intangible Assets | Gross Carrying Amount | Accumulated Amortization | Gross Carrying Amount | Accumulated Amortization | |||||||||
Amortized intangible assets: | |||||||||||||
Customer lists and relationships: | |||||||||||||
Wireless Acquisitions | $ | 1,082 | $ | 550 | $ | 982 | $ | 771 | |||||
BellSouth Corporation | 5,825 | 5,559 | 5,825 | 5,317 | |||||||||
AT&T Corp. | 56 | 42 | 2,482 | 2,438 | |||||||||
Subtotal | 6,963 | 6,151 | 9,289 | 8,526 | |||||||||
Other | 275 | 189 | 284 | 169 | |||||||||
Total | $ | 7,238 | $ | 6,340 | $ | 9,573 | $ | 8,695 | |||||
Schedule Of Indefinite-Life Intangible Assets Not Subject To Amortization | Indefinite-lived intangible assets not subject to amortization: | ||||||||||||
Licenses | $ | 60,824 | $ | 56,433 | |||||||||
Trade names | 5,241 | 4,901 | |||||||||||
Total | $ | 66,065 | $ | 61,334 |
Equity_Method_Investments_Tabl
Equity Method Investments (Tables) | 12 Months Ended | |||||
Dec. 31, 2014 | ||||||
Equity Method Investments | ||||||
Reconciliation Of Investments In Equity Affiliates | ||||||
2014 | 2013 | |||||
Beginning of year | $ | 3,860 | $ | 4,581 | ||
Additional investments | 226 | 111 | ||||
Equity in net income of affiliates | 175 | 642 | ||||
Dividends and distributions received | -148 | -318 | ||||
Currency translation adjustments | - | 61 | ||||
Sale of América Móvil shares | -3,817 | -781 | ||||
Return of advances to and investments in YP Holdings | - | -301 | ||||
América Móvil equity adjustments | - | -124 | ||||
Other adjustments | -46 | -11 | ||||
End of year | $ | 250 | $ | 3,860 |
Debt_Tables
Debt (Tables) | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||
Debt | ||||||||||||||||||||
Summary Of Long-Term Debt Of AT&T And Its Subsidiaries | 2014 | 2013 | ||||||||||||||||||
Notes and debentures | ||||||||||||||||||||
Interest Rates | Maturities1 | |||||||||||||||||||
0.60% – 2.99% | 2015 – 2022 | $ | 22,127 | $ | 18,774 | |||||||||||||||
3.00% – 4.99% | 2014 – 2045 | 31,516 | 22,327 | |||||||||||||||||
5.00% – 6.99% | 2014 – 2095 | 23,260 | 28,513 | |||||||||||||||||
7.00% – 9.10% | 2014 – 2097 | 6,153 | 6,268 | |||||||||||||||||
Other | - | 1 | ||||||||||||||||||
Fair value of interest rate swaps recorded in debt | 125 | 154 | ||||||||||||||||||
83,181 | 76,037 | |||||||||||||||||||
Unamortized (discount) premium - net | -1,549 | -1,553 | ||||||||||||||||||
Total notes and debentures | 81,632 | 74,484 | ||||||||||||||||||
Capitalized leases | 430 | 283 | ||||||||||||||||||
Total long-term debt, including current maturities | 82,062 | 74,767 | ||||||||||||||||||
Current maturities of long-term debt | -6,051 | -5,477 | ||||||||||||||||||
Total long-term debt | $ | 76,011 | $ | 69,290 | ||||||||||||||||
1 | Maturities assume putable debt is redeemed by the holders at the next opportunity. | |||||||||||||||||||
Debt Maturing Within One Year | 2014 | 2013 | ||||||||||||||||||
Current maturities of long-term debt | $ | 6,051 | $ | 5,477 | ||||||||||||||||
Commercial paper | - | 20 | ||||||||||||||||||
Bank borrowings1 | 5 | 1 | ||||||||||||||||||
Total | $ | 6,056 | $ | 5,498 | ||||||||||||||||
1 | Outstanding balance of short-term credit facility of a foreign subsidiary. | |||||||||||||||||||
Long-Term Debt - Scheduled Repayments | 2015 | 2016 | 2017 | 2018 | 2019 | Thereafter | ||||||||||||||
Debt repayments1 | $ | 6,482 | $ | 5,523 | $ | 6,508 | $ | 5,800 | $ | 6,348 | $ | 54,205 | ||||||||
Weighted-average interest rate | 4 | % | 2.1 | % | 2.4 | % | 4.6 | % | 3.7 | % | 4.9 | % | ||||||||
1 | Debt repayments assume putable debt is redeemed by the holders at the next opportunity. |
Fair_Value_Measurements_And_Di1
Fair Value Measurements And Disclosure (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Fair Value Measurements And Disclosure | |||||||||||||
Long-Term Debt And Other Financial Instruments | 31-Dec-14 | 31-Dec-13 | |||||||||||
Carrying | Fair | Carrying | Fair | ||||||||||
Amount | Value | Amount | Value | ||||||||||
Notes and debentures | $ | 81,632 | $ | 90,367 | $ | 74,484 | $ | 79,309 | |||||
Commercial paper | - | - | 20 | 20 | |||||||||
Bank borrowings | 5 | 5 | 1 | 1 | |||||||||
Investment securities | 2,735 | 2,735 | 2,450 | 2,450 | |||||||||
Fair Value Leveling | 31-Dec-14 | ||||||||||||
Level 1 | Level 2 | Level 3 | Total | ||||||||||
Available-for-Sale Securities | |||||||||||||
Domestic equities | $ | 1,160 | $ | - | $ | - | $ | 1,160 | |||||
International equities | 553 | - | - | 553 | |||||||||
Fixed income bonds | - | 836 | - | 836 | |||||||||
Asset Derivatives1 | |||||||||||||
Interest rate swaps | - | 157 | - | 157 | |||||||||
Cross-currency swaps | - | 1,243 | - | 1,243 | |||||||||
Interest rate locks | - | 5 | - | 5 | |||||||||
Liability Derivatives1 | |||||||||||||
Cross-currency swaps | - | -1,506 | - | -1,506 | |||||||||
Interest rate locks | - | -133 | - | -133 | |||||||||
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" in our consolidated balance sheets. | |||||||||||||
Notional Amount Of Outstanding Derivative Positions | 2014 | 2013 | |||||||||||
Interest rate swaps | $ | 6,550 | $ | 4,750 | |||||||||
Cross-currency swaps | 26,505 | 17,787 | |||||||||||
Interest rate locks | 6,750 | - | |||||||||||
Total | $ | 39,805 | $ | 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 | |||||||||||||
For the years ended December 31, | 2014 | 2013 | 2012 | ||||||||||
Interest rate swaps (Interest expense): | |||||||||||||
Gain (Loss) on interest rate swaps | $ | -29 | $ | -113 | $ | -179 | |||||||
Gain (Loss) on long-term debt | 29 | 113 | 179 | ||||||||||
Cash Flow Hedging Relationships | |||||||||||||
For the year ended December 31, | 2014 | 2013 | 2012 | ||||||||||
Cross-currency swaps: | |||||||||||||
Gain (Loss) recognized in accumulated OCI | $ | 528 | $ | 813 | $ | 432 | |||||||
Interest rate locks: | |||||||||||||
Gain (Loss) recognized in accumulated OCI | -128 | - | - | ||||||||||
Interest income (expense) reclassified from accumulated OCI into income | -44 | -46 | -43 | ||||||||||
Foreign exchange contracts: | |||||||||||||
Gain (Loss) recognized in accumulated OCI | - | -2 | 5 |
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | |||||||||
Dec. 31, 2014 | ||||||||||
Income Taxes | ||||||||||
Components Of Deferred Tax Liabilities (Assets) | 2014 | 2013 | ||||||||
Depreciation and amortization | $ | 47,082 | $ | 43,623 | ||||||
Intangibles (nonamortizable) | 1,874 | 1,874 | ||||||||
Employee benefits | -11,679 | -9,072 | ||||||||
Net operating loss and other carryforwards | -2,126 | -2,272 | ||||||||
Other – net | 69 | 29 | ||||||||
Subtotal | 35,220 | 34,182 | ||||||||
Deferred tax assets valuation allowance | 1,182 | 927 | ||||||||
Net deferred tax liabilities | $ | 36,402 | $ | 35,109 | ||||||
Net long-term deferred tax liabilities | $ | 37,544 | $ | 36,308 | ||||||
Less: Net current deferred tax assets | -1,142 | -1,199 | ||||||||
Net deferred tax liabilities | $ | 36,402 | $ | 35,109 | ||||||
Changes In Unrecognized Tax Benefits Balance For Federal, State, And Foreign Tax | Federal, State and Foreign Tax | 2014 | 2013 | |||||||
Balance at beginning of year | $ | 4,227 | $ | 4,793 | ||||||
Increases for tax positions related to the current year | 470 | 255 | ||||||||
Increases for tax positions related to prior years | 484 | 488 | ||||||||
Decreases for tax positions related to prior years | -657 | -1,238 | ||||||||
Lapse of statute of limitations | -38 | -24 | ||||||||
Settlements | -21 | -47 | ||||||||
Balance at end of year | 4,465 | 4,227 | ||||||||
Accrued interest and penalties | 973 | 1,034 | ||||||||
Gross unrecognized income tax benefits | 5,438 | 5,261 | ||||||||
Less: Deferred federal and state income tax benefits | -434 | -481 | ||||||||
Less: Tax attributable to timing items included above | -2,400 | -2,121 | ||||||||
Total UTB that, if recognized, would impact the | ||||||||||
effective income tax rate as of the end of the year | $ | 2,604 | $ | 2,659 | ||||||
Components Of Income Tax Expense | 2014 | 2013 | 2012 | |||||||
Federal: | ||||||||||
Current | $ | 1,609 | $ | 3,043 | $ | 451 | ||||
Deferred – net | 1,904 | 5,692 | 2,256 | |||||||
3,513 | 8,735 | 2,707 | ||||||||
State, local and foreign: | ||||||||||
Current | 61 | -61 | 702 | |||||||
Deferred – net | -132 | 550 | -509 | |||||||
-71 | 489 | 193 | ||||||||
Total | $ | 3,442 | $ | 9,224 | $ | 2,900 | ||||
Reconciliation Of Income Tax Expense Based On Federal Statutory Rate To Amount Per Effective Tax Rate | 2014 | 2013 | 2012 | |||||||
Taxes computed at federal statutory rate | $ | 3,486 | $ | 9,722 | $ | 3,654 | ||||
Increases (decreases) in income taxes resulting from: | ||||||||||
State and local income taxes – net of federal income tax benefit | -127 | 294 | 85 | |||||||
Connecticut wireline sale | 325 | - | - | |||||||
Loss of foreign tax credits in connection with América Móvil sale | 386 | - | - | |||||||
Other – net | -628 | -792 | -839 | |||||||
Total | $ | 3,442 | $ | 9,224 | $ | 2,900 | ||||
Effective Tax Rate | 34.6 | % | 33.2 | % | 27.8 | % |
Pension_And_Postretirement_Ben2
Pension And Postretirement Benefits (Tables) | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||
Pension And Postretirement Benefits | ||||||||||||||||||||||||
Schedule Of Plan Obligations In Excess Of Plan Assets | Pension Benefits | Postretirement Benefits | ||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||
Benefit obligation at beginning of year | $ | 56,560 | $ | 58,911 | $ | 30,285 | $ | 37,431 | ||||||||||||||||
Service cost - benefits earned during the period | 1,134 | 1,321 | 233 | 352 | ||||||||||||||||||||
Interest cost on projected benefit obligation | 2,470 | 2,429 | 1,458 | 1,532 | ||||||||||||||||||||
Amendments | -73 | - | -617 | -4,460 | ||||||||||||||||||||
Actuarial (gain) loss | 6,269 | -2,390 | 1,822 | -2,098 | ||||||||||||||||||||
Special termination benefits | 17 | 255 | - | 1 | ||||||||||||||||||||
Benefits paid | -6,543 | -3,966 | -2,298 | -2,473 | ||||||||||||||||||||
Transfer for sale of Connecticut wireline operations | -293 | - | -174 | - | ||||||||||||||||||||
Plan transfers | 2 | - | - | - | ||||||||||||||||||||
Benefit obligation at end of year | $ | 59,543 | $ | 56,560 | $ | 30,709 | $ | 30,285 | ||||||||||||||||
Pension Benefits | Postretirement Benefits | |||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||
Current portion of employee benefit obligation1 | $ | - | $ | - | $ | -1,842 | $ | -1,949 | ||||||||||||||||
Employee benefit obligation2 | -14,380 | -9,322 | -21,021 | -19,376 | ||||||||||||||||||||
Net amount recognized | $ | -14,380 | $ | -9,322 | $ | -22,863 | $ | -21,325 | ||||||||||||||||
1 | Included in "Accounts payable and accrued liabilities." | |||||||||||||||||||||||
2 | Included in "Postemployment benefit obligation." | |||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||
Projected benefit obligation | $ | -2,458 | $ | -2,280 | ||||||||||||||||||||
Accumulated benefit obligation | -2,410 | -2,227 | ||||||||||||||||||||||
Fair value of plan assets | - | - | ||||||||||||||||||||||
Schedule Of Defined Benefit Plan And Postretirement Benefits Disclosure | Pension Benefits | Postretirement Benefits | ||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | |||||||||||||||||||||
Fair value of plan assets at beginning of year | $ | 47,238 | $ | 45,060 | $ | 8,960 | $ | 9,295 | ||||||||||||||||
Actual return on plan assets | 4,213 | 5,935 | 384 | 1,347 | ||||||||||||||||||||
Benefits paid1 | -6,543 | -3,966 | -1,498 | -1,682 | ||||||||||||||||||||
Contributions | 562 | 209 | - | - | ||||||||||||||||||||
Transfer for sale of Connecticut wireline operations | -308 | - | - | - | ||||||||||||||||||||
Other | 1 | - | - | - | ||||||||||||||||||||
Fair value of plan assets at end of year3 | 45,163 | 47,238 | 7,846 | 8,960 | ||||||||||||||||||||
Unfunded status at end of year2 | $ | -14,380 | $ | -9,322 | $ | -22,863 | $ | -21,325 | ||||||||||||||||
1 | At our discretion, certain postretirement benefits may be paid from AT&T cash accounts, which does not reduce | |||||||||||||||||||||||
Voluntary Employee Benefit Association (VEBA) assets. Future benefit payments may be made from VEBA trusts and thus reduce those asset balances. | ||||||||||||||||||||||||
2 | Funded status is not indicative of our ability to pay ongoing pension benefits or of our obligation to fund retirement trusts. | |||||||||||||||||||||||
Required pension funding is determined in accordance with the Employee Retirement Income Security Act of 1974, as amended (ERISA) regulations. | ||||||||||||||||||||||||
3 | Net assets available for benefits were $54,184 at December 31, 2014 and $56,447 at December 31, 2013 and include the preferred equity interest in AT&T Mobility II LLC discussed below, which was valued at $9,021 and $9,209, respectively. | |||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||
Plan assets recognized in the consolidated financial statements | $ | 45,163 | $ | 47,238 | ||||||||||||||||||||
Preferred equity interest in Mobility | 9,021 | 9,209 | ||||||||||||||||||||||
Net assets available for benefits | $ | 54,184 | $ | 56,447 | ||||||||||||||||||||
Pension Benefits | Postretirement Benefits | |||||||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | |||||||||||||||||||
Service cost – benefits earned during the period | $ | 1,134 | $ | 1,321 | $ | 1,216 | $ | 233 | $ | 352 | $ | 336 | ||||||||||||
Interest cost on projected benefit obligation | 2,470 | 2,429 | 2,800 | 1,458 | 1,532 | 1,725 | ||||||||||||||||||
Expected return on assets | -3,380 | -3,312 | -3,520 | -653 | -706 | -811 | ||||||||||||||||||
Amortization of prior service credit | -94 | -94 | -15 | -1,448 | -1,161 | -927 | ||||||||||||||||||
Actuarial (gain) loss | 5,419 | -5,013 | 5,206 | 2,093 | -2,738 | 4,247 | ||||||||||||||||||
Net pension and postretirement (credit) cost | $ | 5,549 | $ | -4,669 | $ | 5,687 | $ | 1,683 | $ | -2,721 | $ | 4,570 | ||||||||||||
Pension Benefits | Postretirement Benefits | |||||||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | |||||||||||||||||||
Balance at beginning of year | $ | 583 | $ | 641 | $ | 92 | $ | 6,812 | $ | 4,766 | $ | 3,655 | ||||||||||||
Prior service (cost) credit | 45 | - | 559 | 383 | 2,765 | 1,686 | ||||||||||||||||||
Amortization of prior service credit | -58 | -58 | -10 | -898 | -719 | -575 | ||||||||||||||||||
Reclassification to income of prior service credit | 5 | - | - | -40 | - | - | ||||||||||||||||||
Total recognized in other comprehensive (income) loss | -8 | -58 | 549 | -555 | 2,046 | 1,111 | ||||||||||||||||||
Balance at end of year | $ | 575 | $ | 583 | $ | 641 | $ | 6,257 | $ | 6,812 | $ | 4,766 | ||||||||||||
Net Periodic Benefit Cost | 2014 | 2013 | 2012 | |||||||||||||||||||||
Service cost – benefits earned during the period | $ | 7 | $ | 9 | $ | 10 | ||||||||||||||||||
Interest cost on projected benefit obligation | 109 | 101 | 116 | |||||||||||||||||||||
Amortization of prior service cost (credit) | -1 | - | - | |||||||||||||||||||||
Actuarial (gain) loss | 243 | -106 | 230 | |||||||||||||||||||||
Net supplemental retirement pension cost | $ | 358 | $ | 4 | $ | 356 | ||||||||||||||||||
Other Changes Recognized in Other Comprehensive Income | 2014 | 2013 | 2012 | |||||||||||||||||||||
Prior service (cost) credit | $ | -11 | $ | -1 | $ | -1 | ||||||||||||||||||
Amortization of prior service cost (credit) | -1 | - | - | |||||||||||||||||||||
Total recognized in other comprehensive (income) loss (net of tax) | $ | -12 | $ | -1 | $ | -1 | ||||||||||||||||||
Schedule Of Assumptions In Determining The Projected Benefit Obligation And Net Pension And Postretirement Benefit Cost | Pension Benefits | Postretirement Benefits | ||||||||||||||||||||||
2014 | 2013 | 2012 | 2014 | 2013 | 2012 | |||||||||||||||||||
Weighted-average discount rate for determining projected benefit obligation at December 31 | 4.3 | % | 5 | % | 4.3 | % | 4.2 | % | 5 | % | 4.3 | % | ||||||||||||
Discount rate in effect for determining net cost1 | 4.6 | % | 4.3 | % | 5.3 | % | 5 | % | 4.3 | % | 5.3 | % | ||||||||||||
Long-term rate of return on plan assets | 7.75 | % | 7.75 | % | 8.25 | % | 7.75 | % | 7.75 | % | 8.25 | % | ||||||||||||
Composite rate of compensation increase for determining projected benefit obligation | 3 | % | 3 | % | 3 | % | 3 | % | 3 | % | 3 | % | ||||||||||||
Composite rate of compensation increase for determining net pension cost (benefit) | 3 | % | 3 | % | 4 | % | 3 | % | 3 | % | 4 | % | ||||||||||||
1 | Weighted-average discount rate of 5.00% in effect from January 1, 2014 through September 30, 2014. Discount rate of 3.50% in effect from October 1, 2014 through December 31, 2014. | |||||||||||||||||||||||
The Effect Of A One Percentage-Point Change In The Assumed Combined Medical And Dental Cost Trend Rate | One Percentage- | One Percentage- | ||||||||||||||||||||||
Point Increase | Point Decrease | |||||||||||||||||||||||
Increase (decrease) in total of service and interest cost components | $ | 79 | $ | -67 | ||||||||||||||||||||
Increase (decrease) in accumulated postretirement benefit obligation | 796 | -707 | ||||||||||||||||||||||
Schedule Of Defined Benefit Plan Targeted And Actual Plan Asset Allocations | Pension Assets | Postretirement (VEBA) Assets | ||||||||||||||||||||||
Target | 2014 | 2013 | Target | 2014 | 2013 | |||||||||||||||||||
Equity Securities: | ||||||||||||||||||||||||
Domestic | 21 | % | - | 31 | % | 23 | % | 25 | % | 24 | % | - | 34 | % | 29 | % | 25 | % | ||||||
International | 10 | % | - | 20 | % | 14 | 16 | 15 | % | - | 25 | % | 20 | 20 | ||||||||||
Fixed income securities | 34 | % | - | 44 | % | 38 | 33 | 24 | % | - | 34 | % | 29 | 24 | ||||||||||
Real assets | 6 | % | - | 16 | % | 11 | 11 | 0 | % | - | 6 | % | 1 | 1 | ||||||||||
Private equity | 4 | % | - | 14 | % | 12 | 12 | 0 | % | - | 8 | % | 3 | 4 | ||||||||||
Other | 0 | % | - | 5 | % | 2 | 3 | 12 | % | - | 22 | % | 18 | 26 | ||||||||||
Total | 100 | % | 100 | % | 100 | % | 100 | % | ||||||||||||||||
Schedule Of Fair Value Of Pension And Postretirement Assets And Liabilities By Level | Pension Assets and Liabilities at Fair Value as of December 31, 2014 | |||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||||||
Non-interest bearing cash | $ | 45 | $ | - | $ | - | $ | 45 | ||||||||||||||||
Interest bearing cash | - | 127 | - | 127 | ||||||||||||||||||||
Foreign currency contracts | - | 25 | - | 25 | ||||||||||||||||||||
Equity securities: | ||||||||||||||||||||||||
Domestic equities | 8,613 | 74 | - | 8,687 | ||||||||||||||||||||
International equities | 4,805 | 171 | - | 4,976 | ||||||||||||||||||||
Fixed income securities: | ||||||||||||||||||||||||
Asset-backed securities | - | 610 | 1 | 611 | ||||||||||||||||||||
Mortgage-backed securities | - | 1,741 | - | 1,741 | ||||||||||||||||||||
Collateralized mortgage-backed securities | - | 418 | - | 418 | ||||||||||||||||||||
Collateralized mortgage obligations/REMICS | - | 531 | - | 531 | ||||||||||||||||||||
Corporate and other fixed income instruments and funds | 97 | 7,210 | 441 | 7,748 | ||||||||||||||||||||
Government and municipal bonds | 145 | 4,876 | - | 5,021 | ||||||||||||||||||||
Private equity funds | - | - | 5,399 | 5,399 | ||||||||||||||||||||
Real estate and real assets | - | - | 4,845 | 4,845 | ||||||||||||||||||||
Commingled funds | - | 5,823 | 2 | 5,825 | ||||||||||||||||||||
Securities lending collateral | 310 | 3,140 | - | 3,450 | ||||||||||||||||||||
Receivable for variation margin | 6 | - | - | 6 | ||||||||||||||||||||
Purchased options | 1 | - | - | 1 | ||||||||||||||||||||
Assets at fair value | 14,022 | 24,746 | 10,688 | 49,456 | ||||||||||||||||||||
Investments sold short and other liabilities at fair value | -650 | -260 | - | -910 | ||||||||||||||||||||
Total plan net assets at fair value | $ | 13,372 | $ | 24,486 | $ | 10,688 | $ | 48,546 | ||||||||||||||||
Other assets (liabilities)1 | -3,383 | |||||||||||||||||||||||
Total Plan Net Assets | $ | 45,163 | ||||||||||||||||||||||
1 | Other assets (liabilities) include amounts receivable, accounts payable and net adjustment for securities lending payable. | |||||||||||||||||||||||
Postretirement Assets and Liabilities at Fair Value as of December 31, 2014 | ||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||||||
Interest bearing cash | $ | 278 | $ | 1,198 | $ | - | $ | 1,476 | ||||||||||||||||
Equity securities: | ||||||||||||||||||||||||
Domestic equities | 1,606 | - | - | 1,606 | ||||||||||||||||||||
International equities | 1,405 | - | - | 1,405 | ||||||||||||||||||||
Fixed income securities: | ||||||||||||||||||||||||
Asset-backed securities | - | 46 | - | 46 | ||||||||||||||||||||
Collateralized mortgage-backed securities | - | 113 | - | 113 | ||||||||||||||||||||
Collateralized mortgage obligations | - | 50 | 1 | 51 | ||||||||||||||||||||
Corporate and other fixed income instruments and funds | - | 397 | - | 397 | ||||||||||||||||||||
Government and municipal bonds | - | 614 | 1 | 615 | ||||||||||||||||||||
Commingled funds | - | 1,960 | 1 | 1,961 | ||||||||||||||||||||
Private equity assets | - | - | 218 | 218 | ||||||||||||||||||||
Real assets | - | - | 96 | 96 | ||||||||||||||||||||
Securities lending collateral | - | 173 | - | 173 | ||||||||||||||||||||
Total plan net assets at fair value | $ | 3,289 | $ | 4,551 | $ | 317 | $ | 8,157 | ||||||||||||||||
Other assets (liabilities)1 | -311 | |||||||||||||||||||||||
Total Plan Net Assets | $ | 7,846 | ||||||||||||||||||||||
1 | Other assets (liabilities) include amounts receivable, accounts payable and net adjustment for securities lending payable. | |||||||||||||||||||||||
Pension Assets and Liabilities at Fair Value as of December 31, 2013 | ||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||||||
Non-interest bearing cash | $ | 65 | $ | - | $ | - | $ | 65 | ||||||||||||||||
Interest bearing cash | - | 324 | - | 324 | ||||||||||||||||||||
Foreign currency contracts | - | 3 | - | 3 | ||||||||||||||||||||
Equity securities: | ||||||||||||||||||||||||
Domestic equities | 9,841 | 3 | - | 9,844 | ||||||||||||||||||||
International equities | 6,431 | 7 | - | 6,438 | ||||||||||||||||||||
Fixed income securities: | ||||||||||||||||||||||||
Asset-backed securities | - | 553 | 3 | 556 | ||||||||||||||||||||
Mortgage-backed securities | - | 2,470 | - | 2,470 | ||||||||||||||||||||
Collateralized mortgage-backed securities | - | 364 | - | 364 | ||||||||||||||||||||
Collateralized mortgage obligations/REMICS | - | 514 | - | 514 | ||||||||||||||||||||
Corporate and other fixed income instruments and funds | 154 | 5,147 | 540 | 5,841 | ||||||||||||||||||||
Government and municipal bonds | 15 | 4,566 | - | 4,581 | ||||||||||||||||||||
Private equity funds | - | - | 5,724 | 5,724 | ||||||||||||||||||||
Real estate and real assets | - | - | 5,194 | 5,194 | ||||||||||||||||||||
Commingled funds | - | 6,358 | 4 | 6,362 | ||||||||||||||||||||
Securities lending collateral | 390 | 3,074 | - | 3,464 | ||||||||||||||||||||
Receivable for variation margin | 12 | - | - | 12 | ||||||||||||||||||||
Assets at fair value | 16,908 | 23,383 | 11,465 | 51,756 | ||||||||||||||||||||
Investments sold short and other liabilities at fair value | -619 | -5 | - | -624 | ||||||||||||||||||||
Total plan net assets at fair value | $ | 16,289 | $ | 23,378 | $ | 11,465 | $ | 51,132 | ||||||||||||||||
Other assets (liabilities)1 | -3,894 | |||||||||||||||||||||||
Total Plan Net Assets | $ | 47,238 | ||||||||||||||||||||||
1 | Other assets (liabilities) include amounts receivable, accounts payable and net adjustment for securities lending payable. | |||||||||||||||||||||||
Postretirement Assets and Liabilities at Fair Value as of December 31, 2013 | ||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||||||
Interest bearing cash | $ | 405 | $ | 2,073 | $ | - | $ | 2,478 | ||||||||||||||||
Equity securities: | ||||||||||||||||||||||||
Domestic equities | 1,609 | - | - | 1,609 | ||||||||||||||||||||
International equities | 1,527 | - | - | 1,527 | ||||||||||||||||||||
Fixed income securities: | ||||||||||||||||||||||||
Asset-backed securities | - | 35 | 2 | 37 | ||||||||||||||||||||
Collateralized mortgage-backed securities | - | 110 | - | 110 | ||||||||||||||||||||
Collateralized mortgage obligations | - | 53 | 3 | 56 | ||||||||||||||||||||
Corporate and other fixed income instruments and funds | - | 367 | 18 | 385 | ||||||||||||||||||||
Government and municipal bonds | - | 558 | 1 | 559 | ||||||||||||||||||||
Commingled funds | - | 1,899 | 2 | 1,901 | ||||||||||||||||||||
Private equity assets | - | - | 309 | 309 | ||||||||||||||||||||
Real assets | - | - | 111 | 111 | ||||||||||||||||||||
Securities lending collateral | 19 | 372 | - | 391 | ||||||||||||||||||||
Foreign exchange contracts receivable | 3 | - | - | 3 | ||||||||||||||||||||
Assets at fair value | 3,563 | 5,467 | 446 | 9,476 | ||||||||||||||||||||
Foreign exchange contracts payable | 3 | - | - | 3 | ||||||||||||||||||||
Liabilities at fair value | 3 | - | - | 3 | ||||||||||||||||||||
Total plan net assets at fair value | $ | 3,560 | $ | 5,467 | $ | 446 | $ | 9,473 | ||||||||||||||||
Other assets (liabilities)1 | -513 | |||||||||||||||||||||||
Total Plan Net Assets | $ | 8,960 | ||||||||||||||||||||||
1 | Other assets (liabilities) include amounts receivable, accounts payable and net adjustment for securities lending payable. | |||||||||||||||||||||||
Summary of Changes In The Fair Value Of The Level 3 Pension And Postretirement Assets | Pension Assets | Equities | Fixed Income Funds | Private Equity Funds | Real Estate and Real Assets | Total | ||||||||||||||||||
Balance at beginning of year | $ | - | $ | 547 | $ | 5,724 | $ | 5,194 | $ | 11,465 | ||||||||||||||
Realized gains (losses) | - | 41 | 696 | 806 | 1,543 | |||||||||||||||||||
Unrealized gains (losses) | - | -1 | -76 | -246 | -323 | |||||||||||||||||||
Transfers in | - | - | - | 22 | 22 | |||||||||||||||||||
Transfers out | - | -3 | -22 | - | -25 | |||||||||||||||||||
Purchases | 1 | 55 | 531 | 678 | 1,265 | |||||||||||||||||||
Sales | -1 | -195 | -1,454 | -1,609 | -3,259 | |||||||||||||||||||
Balance at end of year | $ | - | $ | 444 | $ | 5,399 | $ | 4,845 | $ | 10,688 | ||||||||||||||
Postretirement Assets | Fixed Income Funds | Private Equity Funds | Real Assets | Total | ||||||||||||||||||||
Balance at beginning of year | $ | 26 | $ | 309 | $ | 111 | $ | 446 | ||||||||||||||||
Realized gains (losses) | - | 45 | -3 | 42 | ||||||||||||||||||||
Unrealized gains (losses) | 1 | -29 | 11 | -17 | ||||||||||||||||||||
Transfers out | -1 | - | - | -1 | ||||||||||||||||||||
Purchases | - | 6 | - | 6 | ||||||||||||||||||||
Sales | -23 | -113 | -23 | -159 | ||||||||||||||||||||
Balance at end of year | $ | 3 | $ | 218 | $ | 96 | $ | 317 | ||||||||||||||||
Pension Assets | Equities | Fixed Income Funds | Private Equity Funds | Real Estate and Real Assets | Total | |||||||||||||||||||
Balance at beginning of year | $ | - | $ | 1,042 | $ | 5,797 | $ | 4,766 | $ | 11,605 | ||||||||||||||
Realized gains (losses) | -3 | 53 | 390 | 122 | 562 | |||||||||||||||||||
Unrealized gains (losses) | 3 | -8 | 546 | 525 | 1,066 | |||||||||||||||||||
Transfers in | - | 5 | - | - | 5 | |||||||||||||||||||
Transfers out | - | -442 | - | - | -442 | |||||||||||||||||||
Purchases | - | 75 | 1,214 | 354 | 1,643 | |||||||||||||||||||
Sales | - | -178 | -2,223 | -573 | -2,974 | |||||||||||||||||||
Balance at end of year | $ | - | $ | 547 | $ | 5,724 | $ | 5,194 | $ | 11,465 | ||||||||||||||
Postretirement Assets | Fixed Income Funds | Private Equity Funds | Real Assets | Total | ||||||||||||||||||||
Balance at beginning of year | $ | 21 | $ | 343 | $ | 110 | $ | 474 | ||||||||||||||||
Realized gains (losses) | - | 2 | 12 | 14 | ||||||||||||||||||||
Unrealized gains (losses) | 1 | 58 | 4 | 63 | ||||||||||||||||||||
Transfers in | 1 | - | - | 1 | ||||||||||||||||||||
Transfers out | -1 | - | - | -1 | ||||||||||||||||||||
Purchases | 5 | 89 | 27 | 121 | ||||||||||||||||||||
Sales | -1 | -183 | -42 | -226 | ||||||||||||||||||||
Balance at end of year | $ | 26 | $ | 309 | $ | 111 | $ | 446 | ||||||||||||||||
Estimated Future Benefit Payments | Pension Benefits | Postretirement Benefits | ||||||||||||||||||||||
2015 | $ | 5,741 | $ | 2,134 | ||||||||||||||||||||
2016 | 4,184 | 2,063 | ||||||||||||||||||||||
2017 | 4,144 | 2,000 | ||||||||||||||||||||||
2018 | 4,066 | 1,962 | ||||||||||||||||||||||
2019 | 4,010 | 1,952 | ||||||||||||||||||||||
Years 2020 - 2024 | 19,753 | 9,324 |
ShareBased_Payment_Tables
Share-Based Payment (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Share-Based Payment | |||||||||
Compensation Cost | 2014 | 2013 | 2012 | ||||||
Performance stock units | $ | 226 | $ | 381 | $ | 397 | |||
Restricted stock and stock units | 93 | 80 | 102 | ||||||
Other nonvested stock units | -1 | -3 | 12 | ||||||
Total | $ | 318 | $ | 458 | $ | 511 | |||
Status Of Nonvested Stock Units Activity And Changes During Year | Nonvested Stock Units | Shares | Weighted-Average Grant-Date Fair Value | ||||||
Nonvested at January 1, 2014 | 24 | $ | 31.93 | ||||||
Granted | 14 | 33.39 | |||||||
Vested | -11 | 29.91 | |||||||
Forfeited | -1 | 32.6 | |||||||
Nonvested at December 31, 2014 | 26 | $ | 33.52 |
Additional_Financial_Informati1
Additional Financial Information (Tables) | 12 Months Ended | |||||||||
Dec. 31, 2014 | ||||||||||
Additional Financial Information [Abstract] | ||||||||||
Consolidated Balance Sheets | December 31, | |||||||||
Consolidated Balance Sheets | 2014 | 2013 | ||||||||
Accounts payable and accrued liabilities: | ||||||||||
Accounts payable | $ | 14,984 | $ | 11,561 | ||||||
Accrued payroll and commissions | 1,967 | 1,985 | ||||||||
Current portion of employee benefit obligation | 1,842 | 1,949 | ||||||||
Accrued interest | 1,597 | 1,559 | ||||||||
Other | 3,202 | 4,053 | ||||||||
Total accounts payable and accrued liabilities | $ | 23,592 | $ | 21,107 | ||||||
Consolidated Statements Of Income | Consolidated Statements of Income | 2014 | 2013 | 2012 | ||||||
Advertising expense | $ | 3,272 | $ | 3,268 | $ | 2,910 | ||||
Interest expense incurred | $ | 3,847 | $ | 4,224 | $ | 3,707 | ||||
Capitalized interest | -234 | -284 | -263 | |||||||
Total interest expense | $ | 3,613 | $ | 3,940 | $ | 3,444 | ||||
Consolidated Statements Of Cash Flows | Consolidated Statements of Cash Flows | 2014 | 2013 | 2012 | ||||||
Cash paid during the year for: | ||||||||||
Interest | $ | 4,099 | $ | 4,302 | $ | 3,714 | ||||
Income taxes, net of refunds | 1,532 | 1,985 | 458 |
Sale_of_Equipment_Installment_1
Sale of Equipment Installment Receivables (Tables) | 12 Months Ended | ||||||
Dec. 31, 2014 | |||||||
Changes In Other Assets [Abstract] | |||||||
Finance Receivables | 2014 | ||||||
Net receivables sold1 | $ | 4,126 | |||||
Cash proceeds received | 2,528 | ||||||
Deferred purchase price recorded | 1,629 | ||||||
1 | Gross receivables sold were $4,707, before deducting the allowance, imputed interest and trade-in right guarantees. |
Quarterly_Financial_Informatio1
Quarterly Financial Information (Unaudited) (Tables) | 12 Months Ended | |||||||||||||||
Dec. 31, 2014 | ||||||||||||||||
Quarterly Financial Information (Unaudited) | ||||||||||||||||
Quarterly Financial Results | 2014 Calendar Quarter | |||||||||||||||
First | Second | Third | Fourth2 | Annual | ||||||||||||
Total Operating Revenues | $ | 32,476 | $ | 32,575 | $ | 32,957 | $ | 34,439 | $ | 132,447 | ||||||
Operating Income (Loss) | 6,278 | 5,616 | 5,402 | -5,550 | 11,746 | |||||||||||
Net Income (Loss) | 3,734 | 3,621 | 3,059 | -3,896 | 6,518 | |||||||||||
Net Income (Loss) Attributable to AT&T | 3,652 | 3,547 | 3,002 | -3,977 | 6,224 | |||||||||||
Basic Earnings (Loss) Per Share | ||||||||||||||||
Attributable to AT&T1 | $ | 0.7 | $ | 0.68 | $ | 0.58 | $ | -0.77 | $ | 1.19 | ||||||
Diluted Earnings (Loss) Per Share | ||||||||||||||||
Attributable to AT&T1 | $ | 0.7 | $ | 0.68 | $ | 0.58 | $ | -0.77 | $ | 1.19 | ||||||
Stock Price | ||||||||||||||||
High | $ | 35.5 | $ | 36.86 | $ | 37.48 | $ | 36.16 | ||||||||
Low | 31.74 | 34.32 | 34.17 | 32.07 | ||||||||||||
Close | 35.07 | 35.36 | 35.24 | 33.59 | ||||||||||||
1 | Quarterly earnings per share impacts may not add to full-year earnings per share impacts due to the difference in weighted-average | |||||||||||||||
common shares for the quarters versus the weighted-average common shares for the year. | ||||||||||||||||
2 | Includes an actuarial loss on pension and postretirement benefit plans (Note 12) and asset abandonment charges (Note 6). | |||||||||||||||
2013 Calendar Quarter | ||||||||||||||||
First | Second | Third | Fourth2 | Annual | ||||||||||||
Total Operating Revenues | $ | 31,356 | $ | 32,075 | $ | 32,158 | $ | 33,163 | $ | 128,752 | ||||||
Operating Income | 5,940 | 6,113 | 6,188 | 12,238 | 30,479 | |||||||||||
Net Income | 3,773 | 3,880 | 3,905 | 6,995 | 18,553 | |||||||||||
Net Income Attributable to AT&T | 3,700 | 3,822 | 3,814 | 6,913 | 18,249 | |||||||||||
Basic Earnings Per Share Attributable | ||||||||||||||||
to AT&T1 | $ | 0.67 | $ | 0.71 | $ | 0.72 | $ | 1.31 | $ | 3.39 | ||||||
Diluted Earnings Per Share Attributable | ||||||||||||||||
to AT&T1 | $ | 0.67 | $ | 0.71 | $ | 0.72 | $ | 1.31 | $ | 3.39 | ||||||
Stock Price | ||||||||||||||||
High | $ | 36.87 | $ | 39 | $ | 36.31 | $ | 36.8 | ||||||||
Low | 32.76 | 34.1 | 33.19 | 33.09 | ||||||||||||
Close | 36.69 | 35.4 | 33.82 | 35.16 | ||||||||||||
1 | Quarterly earnings per share impacts may not add to full-year earnings per share impacts due to the difference in weighted-average | |||||||||||||||
common shares for the quarters versus the weighted-average common shares for the year. | ||||||||||||||||
2 | Includes an actuarial gain on pension and postretirement benefit plans (Note 12), special termination charges (Note 12) and charges for employee separations. |
Valuation_And_Qualifying_Accou1
Valuation And Qualifying Accounts (Tables) | 12 Months Ended | ||||||||||
Dec. 31, 2014 | |||||||||||
Valuation And Qualifying Accounts | |||||||||||
Allowance For Doubtful Accounts | |||||||||||
COL. A | COL. B | COL. C | COL. D | COL. E | |||||||
Additions | |||||||||||
-1 | -2 | -3 | |||||||||
Balance at | Charged to | Charged to | |||||||||
Beginning of | Costs and | Other | Balance at End | ||||||||
Period | Expenses (a) | Accounts (b) | Acquisitions | Deductions (c) | of Period | ||||||
Year 2014 | $ | 483 | 1,032 | -32 | - | 1,029 | $ | 454 | |||
Year 2013 | $ | 547 | 954 | -30 | - | 988 | $ | 483 | |||
Year 2012 | $ | 878 | 1,117 | 48 | - | 1,496 | $ | 547 | |||
(a) Includes amounts previously written off which were credited directly to this account when recovered. | |||||||||||
Excludes direct charges and credits to expense for nontrade receivables on the consolidated statements | |||||||||||
of income. | |||||||||||
(b) Includes amounts related to long-distance carrier receivables which were billed by AT&T. | |||||||||||
(c) Amounts written off as uncollectible, or related to divested entities. | |||||||||||
Summary_Of_Significant_Account2
Summary Of Significant Accounting Policies (Details) (USD $) | 12 Months Ended | 0 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Jul. 01, 2014 | Apr. 01, 2014 |
Summary Of Significant Accounting Policies | ||||
Cash and cash equivalents - cash | $1,257 | |||
Cash and cash equivalents - money market funds and other cash equivalents | 7,346 | |||
Equipment installment sales - maximum installment period (in months) | 0 years 30 months 0 days | |||
Inventories | 1,933 | 1,148 | ||
Inventories - wireless handsets and accessories | $1,858 | 1,031 | ||
Number of major classes of intangible assets | 4 | |||
FCC licenses - typical term (in years) | 10 | |||
Indefinite-lived intangible assets - timing of annual impairment analysis | 1-Oct | |||
Service Life [Member] | Software [Member] | ||||
Property, Plant and Equipment [Line Items] | ||||
Estimated useful life (years) | 3 years 0 months 0 days | |||
Change in Accounting Estimate, Financial Effect | $513, or $0.10 per diluted share | |||
Service Life [Member] | Software - Network [Member] | ||||
Property, Plant and Equipment [Line Items] | ||||
Estimated useful life (years) | 5 years 0 months 0 days | |||
Service Life [Member] | Software- Non-Network [Member] | ||||
Property, Plant and Equipment [Line Items] | ||||
Estimated useful life (years) | 5 years 0 months 0 days |
Earnings_Per_Share_Details
Earnings Per Share (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Millions, except Per Share data, unless otherwise specified | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Earnings Per Share | |||||||||||
Net Income | ($3,896) | $3,059 | $3,621 | $3,734 | $6,995 | $3,905 | $3,880 | $3,773 | $6,518 | $18,553 | $7,539 |
Net income attributable to noncontrolling interest | -294 | -304 | -275 | ||||||||
Net income attributable to AT&T | 6,224 | 18,249 | 7,264 | ||||||||
Share-based payment | 13 | 12 | 12 | ||||||||
Numerator for diluted earnings per share | $6,237 | $18,261 | $7,276 | ||||||||
Weighted average number of common shares outstanding | 5,205 | 5,368 | 5,801 | ||||||||
Share-based payment (in shares) | 16 | 17 | 20 | ||||||||
Denominator for diluted earnings per share | 5,221 | 5,385 | 5,821 | ||||||||
Basic Earnings Per Share Attributable to AT&T | ($0.77) | $0.58 | $0.68 | $0.70 | $1.31 | $0.72 | $0.71 | $0.67 | $1.19 | $3.39 | $1.25 |
Diluted Earnings Per Share Attributable to AT&T | ($0.77) | $0.58 | $0.68 | $0.70 | $1.31 | $0.72 | $0.71 | $0.67 | $1.19 | $3.39 | $1.25 |
Accumulated_Other_Comprehensiv2
Accumulated Other Comprehensive Income (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 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 | 677 | 3,409 |
Amounts reclassifed from accumulated OCI, net of tax | -497 | -765 |
Net other comprehensive income (loss), net of tax | 180 | 2,644 |
Accumulated other comprehensive income, ending balance | 8,060 | 7,880 |
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 | -75 | -138 |
Amounts reclassifed from accumulated OCI, net of tax | 416 | 55 |
Net other comprehensive income (loss), net of tax | 341 | -83 |
Accumulated other comprehensive income, ending balance | -26 | -367 |
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 | 64 | 257 |
Amounts reclassifed from accumulated OCI, net of tax | -16 | -79 |
Net other comprehensive income (loss), net of tax | 48 | 178 |
Accumulated other comprehensive income, ending balance | 498 | 450 |
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 | 260 | 525 |
Amounts reclassifed from accumulated OCI, net of tax | 36 | 30 |
Net other comprehensive income (loss), net of tax | 296 | 555 |
Accumulated other comprehensive income, ending balance | 741 | 445 |
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 | 428 | 2,765 |
Amounts reclassifed from accumulated OCI, net of tax | -933 | -771 |
Net other comprehensive income (loss), net of tax | -505 | 1,994 |
Accumulated other comprehensive income, ending balance | $6,847 | $7,352 |
Segment_Information_Summary_Of
Segment Information (Summary Of Operating Revenues And Expenses By Segment) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Millions, unless otherwise specified | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Segment Reporting Information [Line Items] | |||||||||||
Service | $118,437 | $119,252 | $118,506 | ||||||||
Equipment | 14,010 | 9,500 | 8,928 | ||||||||
Total segment operating revenues | 34,439 | 32,957 | 32,575 | 32,476 | 33,163 | 32,158 | 32,075 | 31,356 | 132,447 | 128,752 | 127,434 |
Operations and support expenses | 102,428 | 79,878 | 96,294 | ||||||||
Depreciation and amortization expenses | 18,273 | 18,395 | 18,143 | ||||||||
Total segment operating expenses | 120,701 | 98,273 | 114,437 | ||||||||
Segment operating income (loss) | -5,550 | 5,402 | 5,616 | 6,278 | 12,238 | 6,188 | 6,113 | 5,940 | 11,746 | 30,479 | 12,997 |
Interest expense | 3,613 | 3,940 | 3,444 | ||||||||
Equity in net income (loss) of affiliates | 175 | 642 | 752 | ||||||||
Other income (expense) - net | 1,652 | 596 | 134 | ||||||||
Segment income (loss) before income taxes | 9,960 | 27,777 | 10,439 | ||||||||
Segment assets | 292,829 | 277,787 | 292,829 | 277,787 | |||||||
Investments in equity method affiliates | 250 | 3,860 | 250 | 3,860 | 4,581 | ||||||
Expenditures for additions to long-lived assets | 21,433 | 21,228 | |||||||||
Operating Segments [Member] | Wireless [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Service | 61,032 | 61,552 | 59,186 | ||||||||
Equipment | 12,960 | 8,347 | 7,577 | ||||||||
Total segment operating revenues | 73,992 | 69,899 | 66,763 | ||||||||
Operations and support expenses | 48,924 | 44,508 | 43,296 | ||||||||
Depreciation and amortization expenses | 7,941 | 7,468 | 6,873 | ||||||||
Total segment operating expenses | 56,865 | 51,976 | 50,169 | ||||||||
Segment operating income (loss) | 17,127 | 17,923 | 16,594 | ||||||||
Interest expense | 0 | 0 | 0 | ||||||||
Equity in net income (loss) of affiliates | -112 | -75 | -62 | ||||||||
Other income (expense) - net | 0 | 0 | 0 | ||||||||
Segment income (loss) before income taxes | 17,015 | 17,848 | 16,532 | ||||||||
Segment assets | 156,317 | 141,196 | 156,317 | 141,196 | |||||||
Investments in equity method affiliates | 0 | 61 | 0 | 61 | |||||||
Expenditures for additions to long-lived assets | 11,383 | 11,191 | |||||||||
Operating Segments [Member] | Wireline [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Service | 57,405 | 57,700 | 58,271 | ||||||||
Equipment | 1,020 | 1,114 | 1,302 | ||||||||
Total segment operating revenues | 58,425 | 58,814 | 59,573 | ||||||||
Operations and support expenses | 42,471 | 41,638 | 41,207 | ||||||||
Depreciation and amortization expenses | 10,323 | 10,907 | 11,123 | ||||||||
Total segment operating expenses | 52,794 | 52,545 | 52,330 | ||||||||
Segment operating income (loss) | 5,631 | 6,269 | 7,243 | ||||||||
Interest expense | 0 | 0 | 0 | ||||||||
Equity in net income (loss) of affiliates | 0 | 2 | -1 | ||||||||
Other income (expense) - net | 0 | 0 | 0 | ||||||||
Segment income (loss) before income taxes | 5,631 | 6,271 | 7,242 | ||||||||
Segment assets | 121,794 | 123,714 | 121,794 | 123,714 | |||||||
Investments in equity method affiliates | 0 | 0 | 0 | 0 | |||||||
Expenditures for additions to long-lived assets | 10,044 | 10,036 | |||||||||
Operating Segments [Member] | Advertising Solutions [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Service | 0 | 0 | 1,049 | ||||||||
Equipment | 0 | 0 | 0 | ||||||||
Total segment operating revenues | 0 | 0 | 1,049 | ||||||||
Operations and support expenses | 0 | 0 | 773 | ||||||||
Depreciation and amortization expenses | 0 | 0 | 106 | ||||||||
Total segment operating expenses | 0 | 0 | 879 | ||||||||
Segment operating income (loss) | 0 | 0 | 170 | ||||||||
Interest expense | 0 | 0 | 0 | ||||||||
Equity in net income (loss) of affiliates | 0 | 0 | 0 | ||||||||
Other income (expense) - net | 0 | 0 | 0 | ||||||||
Segment income (loss) before income taxes | 0 | 0 | 170 | ||||||||
Segment assets | 0 | 0 | 0 | 0 | |||||||
Investments in equity method affiliates | 0 | 0 | 0 | 0 | |||||||
Expenditures for additions to long-lived assets | 0 | 0 | |||||||||
Consolidation Non-Segment [Member] | Corporate and Other [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Service | 0 | 0 | 0 | ||||||||
Equipment | 30 | 39 | 49 | ||||||||
Total segment operating revenues | 30 | 39 | 49 | ||||||||
Operations and support expenses | 11,033 | -6,268 | 11,018 | ||||||||
Depreciation and amortization expenses | 9 | 20 | 41 | ||||||||
Total segment operating expenses | 11,042 | -6,248 | 11,059 | ||||||||
Segment operating income (loss) | -11,012 | 6,287 | -11,010 | ||||||||
Interest expense | 3,613 | 3,940 | 3,444 | ||||||||
Equity in net income (loss) of affiliates | 287 | 715 | 815 | ||||||||
Other income (expense) - net | 1,652 | 596 | 134 | ||||||||
Segment income (loss) before income taxes | -12,686 | 3,658 | -13,505 | ||||||||
Segment assets | 14,718 | 12,877 | 14,718 | 12,877 | |||||||
Investments in equity method affiliates | 250 | 3,799 | 250 | 3,799 | |||||||
Expenditures for additions to long-lived assets | $6 | $1 |
Segment_Information_Summary_Of1
Segment Information (Summary Of Operating Revenues And Expenses By Segment) (Narrative) (Details) | 12 Months Ended |
Dec. 31, 2014 | |
Business Segment Transaction [Abstract] | |
Number of Reportable Segments | 2 |
Acquisitions_Dispositions_And_2
Acquisitions, Dispositions And Other Adjustments (Operating Results Of Discontinued Operation) (Details) (USD $) | Dec. 31, 2013 |
In Millions, unless otherwise specified | |
Assets Held For Sale: | |
Goodwill | $799 |
Connecticut Wireline [Member] | |
Assets Held For Sale: | |
Current assets | 155 |
Property, plant and equipment | 1,289 |
Goodwill | 799 |
Other assets | 17 |
Total assets | 2,260 |
Liabilities of assets held for sale: | |
Current liabilities | 128 |
Noncurrent liabilities | 480 |
Total liabilities | $608 |
Acquisitions_Dispositions_And_3
Acquisitions, Dispositions And Other Adjustments (Narrative) (Details) (USD $) | 12 Months Ended | 1 Months Ended | 4 Months Ended | 1 Months Ended | 0 Months Ended | 1 Months Ended | 0 Months Ended | 1 Months Ended | 7 Months Ended | 1 Months Ended | |||||
In Millions, except Per Share data, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | 31-May-12 | 8-May-12 | Sep. 30, 2013 | Oct. 24, 2014 | Feb. 13, 2015 | Mar. 02, 2015 | Jan. 31, 2015 | Oct. 31, 2014 | Jan. 16, 2015 | Mar. 31, 2014 | Jul. 31, 2014 | Jan. 31, 2013 |
Significant Acquisitions and Disposals [Line Items] | |||||||||||||||
Acquisition of business - anticipated or actual cash paid to seller | $3,141 | $4,113 | $828 | ||||||||||||
Disposition of business - cash received from sale of subsidiary (in millions of U.S. dollars) | 8,123 | 1,923 | 812 | ||||||||||||
Disposition of intangible assets - value of goodwill disposed | 799 | ||||||||||||||
Debt redeemed or matured during period | -7,737 | -13,201 | -17,673 | ||||||||||||
Wireline [Member] | |||||||||||||||
Significant Acquisitions and Disposals [Line Items] | |||||||||||||||
Disposition of intangible assets - value of goodwill disposed | 799 | ||||||||||||||
Advertising Solutions [Member] | Disposition [Member] | |||||||||||||||
Significant Acquisitions and Disposals [Line Items] | |||||||||||||||
Disposition of business - period of sale of subsidiary | 8-May-12 | ||||||||||||||
Disposition of business - cash received from sale of subsidiary (in millions of U.S. dollars) | 740 | ||||||||||||||
Noncash consideration received from sale of subsidiary | 200 | ||||||||||||||
Type of noncash consideration from sale of subsidiary | advance | ||||||||||||||
Atlantic Tele Network [Member] | Acquisition [Member] | |||||||||||||||
Significant Acquisitions and Disposals [Line Items] | |||||||||||||||
Acquisition of business - anticipated or actual acquisition period/date | 30-Sep-13 | ||||||||||||||
Acquisition of business - anticipated or actual cash paid to seller | 806 | ||||||||||||||
Atlantic Tele Network [Member] | Acquisition [Member] | Goodwill [Member] | |||||||||||||||
Significant Acquisitions and Disposals [Line Items] | |||||||||||||||
Acquisition of business - value/amount of assets acquired | 296 | ||||||||||||||
Atlantic Tele Network [Member] | Acquisition [Member] | Spectrum Licenses [Member] | |||||||||||||||
Significant Acquisitions and Disposals [Line Items] | |||||||||||||||
Acquisition of intangible assets - value/amount of assets acquired | 322 | ||||||||||||||
America Movil [Member] | Disposition [Member] | |||||||||||||||
Significant Acquisitions and Disposals [Line Items] | |||||||||||||||
Disposition of business - period of sale of subsidiary | 31-Dec-14 | ||||||||||||||
Disposition of business - cash received from sale of subsidiary (in millions of U.S. dollars) | 5,885 | 1,179 | |||||||||||||
Disposition of business - pretax gain recognized from sale of subsidiary/investment | 1,330 | ||||||||||||||
Connecticut Wireline [Member] | Disposition [Member] | |||||||||||||||
Significant Acquisitions and Disposals [Line Items] | |||||||||||||||
Disposition of business - period of sale of subsidiary | 24-Oct-14 | ||||||||||||||
Disposition of business - cash received from sale of subsidiary (in millions of U.S. dollars) | 2,018 | ||||||||||||||
Disposition of business - pretax gain recognized from sale of subsidiary/investment | 147 | ||||||||||||||
Disposition of business - net income impact from sale of subsidiary (in millions of U.S. dollars) | -289 | ||||||||||||||
Disposition of intangible assets - value of goodwill disposed | 743 | ||||||||||||||
FCC Auction 97 [Member] | Acquisition [Member] | Spectrum Licenses [Member] | |||||||||||||||
Significant Acquisitions and Disposals [Line Items] | |||||||||||||||
Acquisition of intangible assets through a group purchase - value/amount of assets acquired | 18,189 | ||||||||||||||
Payments to Acquire Intangible Assets | 2,717 | 14,551 | 921 | ||||||||||||
License purchase agreement description | 251 Advanced Wireless Service (AWS) spectrum | ||||||||||||||
GSF Telecom Holdings [Member] | Acquisition [Member] | |||||||||||||||
Significant Acquisitions and Disposals [Line Items] | |||||||||||||||
Acquisition of business - anticipated or actual acquisition period/date | 16-Jan-15 | ||||||||||||||
Acquisition of business - cash paid or to be paid to seller | 2,500 | ||||||||||||||
Acquistion of business - allocaton to debt, net of cash received by seller | 700 | ||||||||||||||
Leap Wireless International [Member] | Acquisition [Member] | |||||||||||||||
Significant Acquisitions and Disposals [Line Items] | |||||||||||||||
Acquisition of business - anticipated or actual acquisition period/date | 31-Mar-14 | ||||||||||||||
Acquisition of business - cash paid or to be paid to seller | 1,248 | ||||||||||||||
Acquisition of business - anticipated or actual cash paid to seller (in US dollars per share) | $15 | ||||||||||||||
Acquisition of assets - noncash consideration | one non-transferable contingent value right per share | ||||||||||||||
Long term debt, fair value | 3,889 | ||||||||||||||
Repayments of Debt | 3,889 | ||||||||||||||
Leap Wireless International [Member] | Acquisition [Member] | Customer Lists [Member] | |||||||||||||||
Significant Acquisitions and Disposals [Line Items] | |||||||||||||||
Acquisition of intangible assets - value/amount of assets acquired | 520 | ||||||||||||||
Leap Wireless International [Member] | Acquisition [Member] | Goodwill [Member] | |||||||||||||||
Significant Acquisitions and Disposals [Line Items] | |||||||||||||||
Acquisition of business - value/amount of assets acquired | 248 | ||||||||||||||
Leap Wireless International [Member] | Acquisition [Member] | Property, Plant and Equipment [Member] | |||||||||||||||
Significant Acquisitions and Disposals [Line Items] | |||||||||||||||
Acquisition of business - value/amount of assets acquired | 510 | ||||||||||||||
Leap Wireless International [Member] | Acquisition [Member] | Spectrum Licenses [Member] | |||||||||||||||
Significant Acquisitions and Disposals [Line Items] | |||||||||||||||
Acquisition of intangible assets - value/amount of assets acquired | 3,000 | ||||||||||||||
Leap Wireless International [Member] | Acquisition [Member] | Trade Name [Member] | |||||||||||||||
Significant Acquisitions and Disposals [Line Items] | |||||||||||||||
Acquisition of intangible assets - value/amount of assets acquired | 340 | ||||||||||||||
Next Wave [Member] | Acquisition [Member] | Spectrum Licenses [Member] | |||||||||||||||
Significant Acquisitions and Disposals [Line Items] | |||||||||||||||
Acquisition of business - anticipated or actual acquisition period/date | 31-Jan-13 | ||||||||||||||
Acquisition of business - anticipated or actual cash paid to seller | 605 | ||||||||||||||
Other Acquisitions [Member] | Acquisition [Member] | Spectrum Licenses [Member] | |||||||||||||||
Significant Acquisitions and Disposals [Line Items] | |||||||||||||||
Acquisition of intangible assets through a group purchase - value/amount of assets acquired | 1,263 | 895 | 855 | ||||||||||||
YP Holdings LLC [Member] | Disposition [Member] | |||||||||||||||
Significant Acquisitions and Disposals [Line Items] | |||||||||||||||
Ownership interest in equity method investment | 47.00% | ||||||||||||||
Verizon-Alltell [Member] | Acquisition [Member] | Spectrum Licenses [Member] | |||||||||||||||
Significant Acquisitions and Disposals [Line Items] | |||||||||||||||
Acquisition of business - anticipated or actual acquisition period/date | 30-Sep-13 | ||||||||||||||
Acquisition of assets - noncash consideration | assignment of Advanced Wireless Service (AWS) spectrum licenses | ||||||||||||||
Acquisition of assets - number of states (as shown) | 18 | ||||||||||||||
Acquisition of Assets - estimated number of people in network (in millions) | 42,000,000 | ||||||||||||||
Acquisition of assets - number of markets given (as shown) | 5 | ||||||||||||||
Acquisition of assets - gain on spectrum swaps | 293 | ||||||||||||||
Acquisition of intangible assets - value/amount of assets acquired | $1,900 |
Acquisitions_Dispositions_And_4
Acquisitions, Dispositions And Other Adjustments (Narrative 2) (Details) (Pending Approval [Member], Acquisition [Member], USD $) | 0 Months Ended | 1 Months Ended | 12 Months Ended | 0 Months Ended | ||
In Millions, except Per Share data, unless otherwise specified | Dec. 31, 2014 | Sep. 25, 2014 | Oct. 31, 2014 | 31-May-14 | Dec. 31, 2014 | Jan. 26, 2015 |
DIRECTV [Member] | ||||||
Business Acquisition Disposition Pending [Line Items] | ||||||
Acquisition of business - agreement date or period | 31-May-14 | |||||
Acquisition of business - anticipated or actual acquisition period | first half of 2015 | |||||
Acquisition of business - acquired entity's stockholder approval date | 25-Sep-14 | |||||
Acquisition of business - estimated purchase price (in US dollars per share) | $95 | $28.50 | ||||
Acquisition of business - estimated purchase price | $48,500 | |||||
Acquistion of business - seller's debt, net of cash | 16,177 | |||||
Acquisition of business - value of noncash consideration to be given (in US dollars per share) | $66.50 | |||||
Long-Term Commitment-Description | In October 2014, DIRECTV and the National Football League renewed their agreement for the "NFL Sunday Ticket" service substantially on the terms discussed between AT&T and DIRECTV, satisfying one of the conditions to closing the merger. | |||||
DIRECTV [Member] | Initial Period [Member] | ||||||
Business Acquisition Disposition Pending [Line Items] | ||||||
Acquisition of business - end of termination rights period | 18-May-15 | |||||
DIRECTV [Member] | Extended Period [Member] | ||||||
Business Acquisition Disposition Pending [Line Items] | ||||||
Acquisition of business - end of termination rights period | 13-Nov-15 | |||||
DIRECTV [Member] | Stock Price Scenario 1 [Member] | ||||||
Business Acquisition Disposition Pending [Line Items] | ||||||
Acquisition of business - noncash consideration to be given | 1.905 shares of AT&T stock per share of DIRECTV | |||||
Acquisition of business - value of noncash consideration to be given (in US dollars per share) | $34.90 | |||||
DIRECTV [Member] | Stock Price Scenario 2 [Member] | Minimum [Member] | ||||||
Business Acquisition Disposition Pending [Line Items] | ||||||
Acquisition of business - noncash consideration to be given | 1.724 shares of AT&T stock per share of DIRECTV | |||||
Acquisition of business - value of noncash consideration to be given (in US dollars per share) | $34.90 | |||||
DIRECTV [Member] | Stock Price Scenario 2 [Member] | Maximum [Member] | ||||||
Business Acquisition Disposition Pending [Line Items] | ||||||
Acquisition of business - noncash consideration to be given | 1.905 shares of AT&T stock per share of DIRECTV | |||||
Acquisition of business - value of noncash consideration to be given (in US dollars per share) | $38.58 | |||||
DIRECTV [Member] | Stock Price Scenario 3 [Member] | ||||||
Business Acquisition Disposition Pending [Line Items] | ||||||
Acquisition of business - noncash consideration to be given | 1.724 shares of AT&T stock per share of DIRECTV | |||||
Acquisition of business - value of noncash consideration to be given (in US dollars per share) | $38.58 | |||||
NII Holding Inc [Member] | ||||||
Business Acquisition Disposition Pending [Line Items] | ||||||
Acquisition of business - agreement date or period | 26-Jan-15 | |||||
Acquisition of business - estimated purchase price | $1,875 | |||||
Acquisition of assets - estimated number of people in network (in millions) | 3,000,000 |
Property_Plant_And_Equipment_D
Property, Plant And Equipment (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | 282,295 | 274,798 |
Accumulated depreciation and amortization | 169,397 | 163,830 |
Property, plant and equipment - net | 112,898 | 110,968 |
Land [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | 1,567 | 1,523 |
Land [Member] | Minimum [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, useful life | 0 years 0 months 0 days | 0 years 0 months 0 days |
Land [Member] | Maximum [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, useful life | 0 years 0 months 0 days | 0 years 0 months 0 days |
Buildings and Improvements [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | 32,204 | 31,485 |
Buildings and Improvements [Member] | Minimum [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, useful life | 10 years 0 months 0 days | 10 years 0 months 0 days |
Buildings and Improvements [Member] | Maximum [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, useful life | 44 years 0 months 0 days | 44 years 0 months 0 days |
Central Office Equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | 89,857 | 86,370 |
Central Office Equipment [Member] | Minimum [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, useful life | 3 years 0 months 0 days | 3 years 0 months 0 days |
Central Office Equipment [Member] | Maximum [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, useful life | 10 years 0 months 0 days | 10 years 0 months 0 days |
Cable, Wiring And Conduit [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | 72,766 | 76,107 |
Cable, Wiring And Conduit [Member] | Minimum [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, useful life | 15 years 0 months 0 days | 15 years 0 months 0 days |
Cable, Wiring And Conduit [Member] | Maximum [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, useful life | 50 years 0 months 0 days | 50 years 0 months 0 days |
Other Equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | 74,244 | 67,887 |
Other Equipment [Member] | Minimum [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, useful life | 3 years 0 months 0 days | 3 years 0 months 0 days |
Other Equipment [Member] | Maximum [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, useful life | 15 years 0 months 0 days | 15 years 0 months 0 days |
Software [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | 8,604 | 8,150 |
Software [Member] | Minimum [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, useful life | 3 years 0 months 0 days | 3 years 0 months 0 days |
Software [Member] | Maximum [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, useful life | 5 years 0 months 0 days | 3 years 0 months 0 days |
Under Construction [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, gross | 3,053 | 3,276 |
Under Construction [Member] | Minimum [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, useful life | 0 years 0 months 0 days | 0 years 0 months 0 days |
Under Construction [Member] | Maximum [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, useful life | 0 years 0 months 0 days | 0 years 0 months 0 days |
Property_Plant_And_Equipment_N
Property, Plant And Equipment (Narrative) (Details) (USD $) | 12 Months Ended | 3 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2014 |
Property, Plant and Equipment [Line Items] | ||||
Depreciation expense | $17,773 | $17,722 | $16,933 | |
Operating leases, rent expense | 4,345 | 3,683 | 3,507 | |
Operating leases, future minimum payments due, current | 3,879 | 3,879 | ||
Operating leases, future minimum payments, due in two years | 3,641 | 3,641 | ||
Operating leases, future minimum payments, due in three years | 3,290 | 3,290 | ||
Operating leases, future minimum payments, due in four years | 2,981 | 2,981 | ||
Operating leases, future minimum payments, due in five years | 2,713 | 2,713 | ||
Operating leases, future minimum payments, due thereafter | 14,543 | 14,543 | ||
Property, plant and equipment, gross | 282,295 | 274,798 | 282,295 | |
Accumulated depreciation and Amortization | 169,397 | 163,830 | 169,397 | |
Assets Disposed of by Method Other than Sale, in Period of Disposition, Gain (Loss) on Disposition | -2,120 | 0 | 0 | |
Copper Network Assets [Member] | ||||
Property, Plant and Equipment [Line Items] | ||||
Property, plant and equipment, gross | 7,141 | 7,141 | ||
Accumulated depreciation and Amortization | 5,021 | 5,021 | ||
Assets Disposed of by Method Other than Sale, in Period of Disposition, Gain (Loss) on Disposition | 2,120 | |||
Assets Disposed of by Method Other than Sale, in Period of Disposition, Method of Disposal | Abandonment | |||
Long-Lived Assets, Impairment | 0 | |||
Circumstances leading to the abandonment of long-lived assets by method other than sale | Declining customer demand for our legacy voice and data products and the migration of our networks to next generation technologies, we decided in the fourth quarter of 2014 to abandon in place specific copper network assets classified as cable, wiring and conduit | |||
Software [Member] | ||||
Property, Plant and Equipment [Line Items] | ||||
Depreciation expense | $1,504 | $2,142 | $2,130 |
Goodwill_And_Other_Intangible_2
Goodwill And Other Intangible Assets (Narrative) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Goodwill And Other Intangible Assets | |||
Amortization expense for definite-life intangible assets for the year | $500 | $672 | $1,210 |
Estimated amortization expense in 2015 | 350 | ||
Estimated amortization expense in 2016 | 244 | ||
Estimated amortization expense in 2017 | 177 | ||
Estimated amortization expense in 2018 | 57 | ||
Estimated amortization expense in 2019 | 28 | ||
Write-offs of fully amortized finite-lived intangible assets | $2,850 | $6,217 | |
Finite Lived Intangible Assets [Line Items] | |||
Finite-lived intangible assets - weighted average useful life | 9 years 9 months 19 days | ||
Customer Lists And Relationships [Member] | |||
Finite Lived Intangible Assets [Line Items] | |||
Finite-lived intangible assets - weighted average useful life | 9 years 8 months 12 days | ||
Other Intangible Assets [Member] | |||
Finite Lived Intangible Assets [Line Items] | |||
Finite-lived intangible assets - weighted average useful life | 12 years 1 month 6 days |
Goodwill_And_Other_Intangible_3
Goodwill And Other Intangible Assets (Summary Of Changes In Carrying Amount Of Goodwill, By Segment) (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Segment Reporting Information [Line Items] | ||
Beginning balance | $69,273 | $69,773 |
Goodwill acquired | 367 | 305 |
Held for sale | -799 | |
Other | 52 | -6 |
Ending balance | 69,692 | 69,273 |
Wireless [Member] | ||
Segment Reporting Information [Line Items] | ||
Beginning balance | 36,106 | 35,803 |
Goodwill acquired | 367 | 305 |
Held for sale | 0 | |
Other | -4 | -2 |
Ending balance | 36,469 | 36,106 |
Wireline [Member] | ||
Segment Reporting Information [Line Items] | ||
Beginning balance | 33,167 | 33,970 |
Goodwill acquired | 0 | 0 |
Held for sale | -799 | |
Other | 56 | -4 |
Ending balance | $33,223 | $33,167 |
Goodwill_And_Other_Intangible_4
Goodwill And Other Intangible Assets (Schedule Of Amortized Intangible Assets) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Wireless Acquisitions [Member] | ||
Finite Lived Intangible Assets [Line Items] | ||
Gross carrying amount | $1,082 | $982 |
Accumulated amortization | 550 | 771 |
BellSouth Corporation [Member] | ||
Finite Lived Intangible Assets [Line Items] | ||
Gross carrying amount | 5,825 | 5,825 |
Accumulated amortization | 5,559 | 5,317 |
AT&T Corp [Member] | ||
Finite Lived Intangible Assets [Line Items] | ||
Gross carrying amount | 56 | 2,482 |
Accumulated amortization | 42 | 2,438 |
Other Intangible Assets Subtotal [Member] | ||
Finite Lived Intangible Assets [Line Items] | ||
Gross carrying amount | 6,963 | 9,289 |
Accumulated amortization | 6,151 | 8,526 |
Other Intangible Assets [Member] | ||
Finite Lived Intangible Assets [Line Items] | ||
Gross carrying amount | 275 | 284 |
Accumulated amortization | 189 | 169 |
Customer Lists And Relationships [Member] | ||
Finite Lived Intangible Assets [Line Items] | ||
Gross carrying amount | 7,238 | 9,573 |
Accumulated amortization | $6,340 | $8,695 |
Goodwill_And_Other_Intangible_5
Goodwill And Other Intangible Assets (Schedule Of Indefinite-Life Intangible Assets Not Subject To Amortization) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Indefinite-lived Intangible Assets [Line Items] | ||
Gross carrying amount | $66,065 | $61,334 |
Spectrum Licenses [Member] | ||
Indefinite-lived Intangible Assets [Line Items] | ||
Gross carrying amount | 60,824 | 56,433 |
Trade Name [Member] | ||
Indefinite-lived Intangible Assets [Line Items] | ||
Gross carrying amount | $5,241 | $4,901 |
Equity_Method_Investments_Narr
Equity Method Investments (Narrative) (Details) (USD $) | 12 Months Ended | 1 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Jun. 30, 2014 |
Schedule of Equity Method Investments [Line Items] | ||||
Undistributed earnings from equity affiliates | $88 | $3,346 | ||
Proceeds from equity method investments | 4 | 301 | 0 | |
America Movil [Member] | ||||
Schedule of Equity Method Investments [Line Items] | ||||
Disposition of business - period of sale of subsidiary | 30-Jun-14 | |||
Otter Media [Member] | ||||
Schedule of Equity Method Investments [Line Items] | ||||
Ownership interest in equity method investment | 38.00% | |||
Acquisition of business - period of acquisition | 31-Dec-14 | |||
Root Sports Southwest [Member] | ||||
Schedule of Equity Method Investments [Line Items] | ||||
Ownership interest in equity method investment | 40.00% | |||
Acquisition of business - period of acquisition | 31-Dec-14 | |||
YP Holdings LLC [Member] | ||||
Schedule of Equity Method Investments [Line Items] | ||||
Ownership interest in equity method investment | 47.00% | |||
YP Holdings LLC [Member] | Repayment of Advances [Member] | ||||
Schedule of Equity Method Investments [Line Items] | ||||
Proceeds from equity method investments | 200 | |||
YP Holdings LLC [Member] | Return of Investment [Member] | ||||
Schedule of Equity Method Investments [Line Items] | ||||
Proceeds from equity method investments | $101 |
Equity_Method_Investments_Reco
Equity Method Investments (Reconciliation Of Investments In Equity Affiliates) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Equity Method Investments | |||
Beginning of year | $3,860 | $4,581 | |
Additional investments | 226 | 111 | |
Equity in net income of affiliates | 175 | 642 | 752 |
Dividends and Distributions received | -148 | -318 | |
Currency translation adjustments | 0 | 61 | |
Sale of America Movil Shares | -3,817 | -781 | |
Return of advances to and investments in YP Holdings | -4 | -301 | 0 |
America Movil equity adjustments | 0 | -124 | |
Other adjustments | -46 | -11 | |
End of year | $250 | $3,860 | $4,581 |
Debt_Narrative_Details
Debt (Narrative) (Details) (USD $) | 0 Months Ended | 12 Months Ended | 0 Months Ended | |||
In Millions, unless otherwise specified | Jan. 29, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Jan. 21, 2015 | Dec. 31, 2007 |
Debt Instrument [Line Items] | ||||||
Debt instrument - principal amount | $2,619 | $16,013 | ||||
Debt instruments - maturity date | 31-Dec-45 | |||||
Debt instrument - proceeds from issuance | 15,926 | 12,040 | 13,486 | |||
Debt instument - stated percentage rate | 4.60% | |||||
Weighted average coupon - for long-term debt issuances (not from exchange) during period | 2.40% | |||||
Repayment of long-term debt | 10,400 | 7,698 | 8,733 | |||
New debt instruments - weighted average maturity period | 13 years 0 months 0 days | |||||
Notes and debentures interest rates, Minimum | 0.88% | |||||
Notes and debentures interest rates, Maximum | 7.75% | |||||
December 2018 Facility [Member] | ||||||
Credit Facilities [Abstract] | ||||||
Credit agreement - maximum borrowing capacity | 5,000 | |||||
Credit agreement - advances outstanding | 0 | |||||
Ratio of debt to EBITDA covenant | 3.0 to 1 | |||||
Credit agreement - termination date | 12/11/18 | |||||
Credit agreement - minimum lender approval percentage for extension of term (in hundredths) | 50.00% | |||||
Credit agreement - potential extension of term (years) | 2 | |||||
Credit agreement - additional borrowing capacity beyond current limit | 2,000 | |||||
Credit agreement - minimum borrowing capacity | 0 | |||||
Credit agreement - base rate | EITHER 1) • at a variable annual rate equal to (1) the highest of: (a) the base (or prime) rate of the bank affiliate of Citibank, N.A. which is serving as administrative agent under the Agreement, (b) 0.50% per annum above the Federal funds rate, and (c) the London Interbank Offered Rate (LIBOR) applicable to U.S. dollars for a period of one month plus 1.00% per annum, plus (2) an applicable margin, as set forth in the Agreement (Applicable Margin); OR 2) • at a rate equal to: (i) the LIBOR for a period of one, two, three or six months, as applicable, plus (ii) the Applicable Margin (each such Advance, a Eurodollar Rate Advance). | |||||
December 2018 Facility [Member] | High Credit Rating [Member] | ||||||
Credit Facilities [Abstract] | ||||||
Credit agreement - basis spread of variable rate | 2.00% | |||||
Credit agreement - commitment fee percentage | 0.06% | |||||
December 2018 Facility [Member] | High Credit Rating [Member] | Base Rate Advance [Member] | ||||||
Credit Facilities [Abstract] | ||||||
Credit agreement - basis spread of variable rate | 0.00% | |||||
December 2018 Facility [Member] | High Credit Rating [Member] | Eurodollar Rate Advance [Member] | ||||||
Credit Facilities [Abstract] | ||||||
Credit agreement - basis spread of variable rate | 0.57% | |||||
December 2018 Facility [Member] | Moderate Credit Rating [Member] | ||||||
Credit Facilities [Abstract] | ||||||
Credit agreement - basis spread of variable rate | 2.00% | |||||
Credit agreement - commitment fee percentage | 0.07% | |||||
December 2018 Facility [Member] | Moderate Credit Rating [Member] | Base Rate Advance [Member] | ||||||
Credit Facilities [Abstract] | ||||||
Credit agreement - basis spread of variable rate | 0.00% | |||||
December 2018 Facility [Member] | Moderate Credit Rating [Member] | Eurodollar Rate Advance [Member] | ||||||
Credit Facilities [Abstract] | ||||||
Credit agreement - basis spread of variable rate | 0.68% | |||||
December 2018 Facility [Member] | Low Credit Rating [Member] | ||||||
Credit Facilities [Abstract] | ||||||
Credit agreement - basis spread of variable rate | 2.00% | |||||
Credit agreement - commitment fee percentage | 0.09% | |||||
December 2018 Facility [Member] | Low Credit Rating [Member] | Base Rate Advance [Member] | ||||||
Credit Facilities [Abstract] | ||||||
Credit agreement - basis spread of variable rate | 0.00% | |||||
December 2018 Facility [Member] | Low Credit Rating [Member] | Eurodollar Rate Advance [Member] | ||||||
Credit Facilities [Abstract] | ||||||
Credit agreement - basis spread of variable rate | 0.91% | |||||
December 2017 Facility [Member] | ||||||
Credit Facilities [Abstract] | ||||||
Credit agreement - maximum borrowing capacity | 3,000 | |||||
Credit agreement - advances outstanding | 0 | |||||
Ratio of debt to EBITDA covenant | 3.0 to 1 | |||||
Credit agreement - termination date | 12/11/17 | |||||
Credit agreement - minimum lender approval percentage for extension of term (in hundredths) | 50.00% | |||||
Credit agreement - potential extension of term (years) | 2 | |||||
Credit agreement - additional borrowing capacity beyond current limit | 2,000 | |||||
Credit agreement - minimum borrowing capacity | 0 | |||||
Credit agreement - base rate | EITHER 1) • at a variable annual rate equal to (1) the highest of: (a) the base (or prime) rate of the bank affiliate of Citibank, N.A. which is serving as administrative agent under the Agreement, (b) 0.50% per annum above the Federal funds rate, and (c) the London Interbank Offered Rate (LIBOR) applicable to U.S. dollars for a period of one month plus 1.00% per annum, plus (2) an applicable margin, as set forth in the Agreement (Applicable Margin); OR 2) • at a rate equal to: (i) the LIBOR for a period of one, two, three or six months, as applicable, plus (ii) the Applicable Margin (each such Advance, a Eurodollar Rate Advance). | |||||
December 2017 Facility [Member] | High Credit Rating [Member] | ||||||
Credit Facilities [Abstract] | ||||||
Credit agreement - basis spread of variable rate | 2.00% | |||||
Credit agreement - commitment fee percentage | 0.06% | |||||
December 2017 Facility [Member] | High Credit Rating [Member] | Base Rate Advance [Member] | ||||||
Credit Facilities [Abstract] | ||||||
Credit agreement - basis spread of variable rate | 0.00% | |||||
December 2017 Facility [Member] | High Credit Rating [Member] | Eurodollar Rate Advance [Member] | ||||||
Credit Facilities [Abstract] | ||||||
Credit agreement - basis spread of variable rate | 0.57% | |||||
December 2017 Facility [Member] | Moderate Credit Rating [Member] | ||||||
Credit Facilities [Abstract] | ||||||
Credit agreement - basis spread of variable rate | 2.00% | |||||
Credit agreement - commitment fee percentage | 0.07% | |||||
December 2017 Facility [Member] | Moderate Credit Rating [Member] | Base Rate Advance [Member] | ||||||
Credit Facilities [Abstract] | ||||||
Credit agreement - basis spread of variable rate | 0.00% | |||||
December 2017 Facility [Member] | Moderate Credit Rating [Member] | Eurodollar Rate Advance [Member] | ||||||
Credit Facilities [Abstract] | ||||||
Credit agreement - basis spread of variable rate | 0.68% | |||||
December 2017 Facility [Member] | Low Credit Rating [Member] | ||||||
Credit Facilities [Abstract] | ||||||
Credit agreement - basis spread of variable rate | 2.00% | |||||
Credit agreement - commitment fee percentage | 0.09% | |||||
December 2017 Facility [Member] | Low Credit Rating [Member] | Base Rate Advance [Member] | ||||||
Credit Facilities [Abstract] | ||||||
Credit agreement - basis spread of variable rate | 0.00% | |||||
December 2017 Facility [Member] | Low Credit Rating [Member] | Eurodollar Rate Advance [Member] | ||||||
Credit Facilities [Abstract] | ||||||
Credit agreement - basis spread of variable rate | 0.91% | |||||
Syndicated Credit Agreement [Member] | ||||||
Credit Facilities [Abstract] | ||||||
Credit agreement - maximum borrowing capacity | 9,155 | |||||
Credit agreement - initiation date | 21-Jan-15 | |||||
Ratio of debt to EBITDA covenant | 3.0 to 1 | |||||
Credit agreement - termination date | 3/21/15 | |||||
Credit agreement - base rate | EITHER 1) • at a variable annual rate equal to (1) the highest of: (a) Mizuho's publicly-announced prime rate, (b) 0.50% per annum above the Federal funds rate, and (c) the ICE Benchmark Administration Limited Settlement Rate applicable to U.S. Dollars for a period of one month plus 1 %, plus (2) an applicable margin, as set forth in the Syndicated Credit Agreement (Applicable Margin); OR 2) • at a rate equal to: (i) the LIBOR for deposits in dollars (adjusted upwards to reflect any bank reserve costs) for a period of three or six months, as applicable, plus (ii) the Applicable Margin (each such Advance, a Eurodollar Rate Advance). | |||||
Tranche A Facility [Member] | ||||||
Credit Facilities [Abstract] | ||||||
Credit agreement - maximum borrowing capacity | 6,286 | |||||
Credit agreement - minimum borrowing capacity | 0 | |||||
Credit agreement - term | Amounts borrowed will be due and payable on the third anniversary of funding | |||||
Tranche A Facility [Member] | High Credit Rating [Member] | ||||||
Credit Facilities [Abstract] | ||||||
Credit agreement - basis spread of variable rate | 2.00% | |||||
Tranche A Facility [Member] | High Credit Rating [Member] | Base Rate Advance [Member] | ||||||
Credit Facilities [Abstract] | ||||||
Credit agreement - basis spread of variable rate | 0.00% | |||||
Tranche A Facility [Member] | High Credit Rating [Member] | Eurodollar Rate Advance [Member] | ||||||
Credit Facilities [Abstract] | ||||||
Credit agreement - basis spread of variable rate | 1.00% | |||||
Tranche A Facility [Member] | Moderate Credit Rating [Member] | ||||||
Credit Facilities [Abstract] | ||||||
Credit agreement - basis spread of variable rate | 2.00% | |||||
Tranche A Facility [Member] | Moderate Credit Rating [Member] | Base Rate Advance [Member] | ||||||
Credit Facilities [Abstract] | ||||||
Credit agreement - basis spread of variable rate | 0.13% | |||||
Tranche A Facility [Member] | Moderate Credit Rating [Member] | Eurodollar Rate Advance [Member] | ||||||
Credit Facilities [Abstract] | ||||||
Credit agreement - basis spread of variable rate | 1.13% | |||||
Tranche A Facility [Member] | Low Credit Rating [Member] | ||||||
Credit Facilities [Abstract] | ||||||
Credit agreement - basis spread of variable rate | 2.00% | |||||
Tranche A Facility [Member] | Low Credit Rating [Member] | Base Rate Advance [Member] | ||||||
Credit Facilities [Abstract] | ||||||
Credit agreement - basis spread of variable rate | 0.25% | |||||
Tranche A Facility [Member] | Low Credit Rating [Member] | Eurodollar Rate Advance [Member] | ||||||
Credit Facilities [Abstract] | ||||||
Credit agreement - basis spread of variable rate | 1.25% | |||||
Tranche B Facility [Member] | ||||||
Credit Facilities [Abstract] | ||||||
Credit agreement - maximum borrowing capacity | 2,869 | |||||
Credit agreement - minimum borrowing capacity | 0 | |||||
Credit agreement - term | Amounts borrowed will be subject to amortization from the third anniversary of funding, with twenty-five of the aggregate principal amount thereof being payable prior to the fifth anniversary thereof, and all remaining principal amount due and payable on the such fifth anniversary. | |||||
Tranche B Facility [Member] | High Credit Rating [Member] | ||||||
Credit Facilities [Abstract] | ||||||
Credit agreement - basis spread of variable rate | 2.00% | |||||
Tranche B Facility [Member] | High Credit Rating [Member] | Base Rate Advance [Member] | ||||||
Credit Facilities [Abstract] | ||||||
Credit agreement - basis spread of variable rate | 0.13% | |||||
Tranche B Facility [Member] | High Credit Rating [Member] | Eurodollar Rate Advance [Member] | ||||||
Credit Facilities [Abstract] | ||||||
Credit agreement - basis spread of variable rate | 1.13% | |||||
Tranche B Facility [Member] | Moderate Credit Rating [Member] | ||||||
Credit Facilities [Abstract] | ||||||
Credit agreement - basis spread of variable rate | 2.00% | |||||
Tranche B Facility [Member] | Moderate Credit Rating [Member] | Base Rate Advance [Member] | ||||||
Credit Facilities [Abstract] | ||||||
Credit agreement - basis spread of variable rate | 0.25% | |||||
Tranche B Facility [Member] | Moderate Credit Rating [Member] | Eurodollar Rate Advance [Member] | ||||||
Credit Facilities [Abstract] | ||||||
Credit agreement - basis spread of variable rate | 1.25% | |||||
Tranche B Facility [Member] | Low Credit Rating [Member] | ||||||
Credit Facilities [Abstract] | ||||||
Credit agreement - basis spread of variable rate | 2.00% | |||||
Tranche B Facility [Member] | Low Credit Rating [Member] | Base Rate Advance [Member] | ||||||
Credit Facilities [Abstract] | ||||||
Credit agreement - basis spread of variable rate | 0.38% | |||||
Tranche B Facility [Member] | Low Credit Rating [Member] | Eurodollar Rate Advance [Member] | ||||||
Credit Facilities [Abstract] | ||||||
Credit agreement - basis spread of variable rate | 1.38% | |||||
18-Month Credit Agreement [Member] | ||||||
Credit Facilities [Abstract] | ||||||
Credit agreement - maximum borrowing capacity | 2,000 | |||||
Credit agreement - initiation date | 21-Jan-15 | |||||
Credit agreement - termination date | 3/21/15 | |||||
Credit agreement - minimum borrowing capacity | 0 | |||||
Credit agreement - term | Amounts borrowed will be due and payable on the date that is 18 months after funding. | |||||
Credit agreement - base rate | EITHER:1) at a variable annual rate equal to: (1) the highest of (a) Mizuho’s publicly-announced prime rate, (b) 0.50% per annum above the Federal funds rate, and (c) the ICE Benchmark Administration Limited Settlement Rate applicable to dollars for a period of one month plus 1.00%, plus (2) an applicable margin, as set forth in the 18-Month Credit Agreement (Applicable Margin) (each such Advance, a Base Rate Advance); OR 2) at a rate equal to: (i) the LIBOR for deposits in dollars (adjusted upwards to reflect any bank reserve costs) for a period of one, two, three or six months, as applicable, plus (ii) the Applicable Margin (each such Advance, a Eurodollar Rate Advance). | |||||
18-Month Credit Agreement [Member] | High Credit Rating [Member] | Base Rate Advance [Member] | ||||||
Credit Facilities [Abstract] | ||||||
Credit agreement - basis spread of variable rate | 0.00% | |||||
18-Month Credit Agreement [Member] | High Credit Rating [Member] | Eurodollar Rate Advance [Member] | ||||||
Credit Facilities [Abstract] | ||||||
Credit agreement - basis spread of variable rate | 0.80% | |||||
18-Month Credit Agreement [Member] | Moderate Credit Rating [Member] | Base Rate Advance [Member] | ||||||
Credit Facilities [Abstract] | ||||||
Credit agreement - basis spread of variable rate | 0.00% | |||||
18-Month Credit Agreement [Member] | Moderate Credit Rating [Member] | Eurodollar Rate Advance [Member] | ||||||
Credit Facilities [Abstract] | ||||||
Credit agreement - basis spread of variable rate | 0.90% | |||||
18-Month Credit Agreement [Member] | Low Credit Rating [Member] | Base Rate Advance [Member] | ||||||
Credit Facilities [Abstract] | ||||||
Credit agreement - basis spread of variable rate | 0.00% | |||||
18-Month Credit Agreement [Member] | Low Credit Rating [Member] | Eurodollar Rate Advance [Member] | ||||||
Credit Facilities [Abstract] | ||||||
Credit agreement - basis spread of variable rate | 1.00% | |||||
Debt Issued In Foreign Markets [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Debt instrument - principal amount | 24,655 | 18,146 | ||||
Annual Put Reset Securities [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Debt instrument - principal amount | 1,000 | |||||
Debt instruments - maturity date | 30-Apr-21 | |||||
Zero Coupon [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Debt instrument - principal amount | 500 | |||||
Debt instrument - redemption amount | $1,030 | |||||
Debt instruments - maturity date | 31-May-22 | |||||
Notes And Debentures [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Weighted average coupon - for long-term debt issuances (not from exchange) during period | 4.20% | 4.40% |
Debt_Summary_Of_LongTerm_Debt_
Debt (Summary Of Long-Term Debt Of AT&T And Its Subsidiaries) (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Debt Instrument [Line Items] | ||
Notes and debentures interest rates, Minimum | 0.88% | |
Notes and debentures interest rates, Maximum | 7.75% | |
Capitalized leases | 430 | 283 |
Total long-term debt and capital lease obligations | 82,062 | 74,767 |
Current maturities of long-term debt | -6,051 | -5,477 |
Long-term debt and capital lease obligations (noncurrent) | 76,011 | 69,290 |
Notes And Debentures [Member] | ||
Debt Instrument [Line Items] | ||
Carrying amount of notes and debentures | 83,181 | 76,037 |
Unamortized (discount) premium - net | -1,549 | -1,553 |
Total notes and debentures | 81,632 | 74,484 |
Notes And Debentures Maturing 2015-2022 [Member] | ||
Debt Instrument [Line Items] | ||
Notes and debentures interest rates, Minimum | 0.60% | 0.60% |
Notes and debentures interest rates, Maximum | 2.99% | 2.99% |
Debt instrument, maturity date range, start | 31-Dec-15 | 31-Dec-15 |
Debt instrument, maturity date range, end | 31-Dec-22 | 31-Dec-22 |
Notes And Debentures Maturing 2015-2022 [Member] | Notes And Debentures [Member] | ||
Debt Instrument [Line Items] | ||
Carrying amount of notes and debentures | 22,127 | 18,774 |
Notes And Debentures Maturing 2014-2045 [Member] | ||
Debt Instrument [Line Items] | ||
Notes and debentures interest rates, Minimum | 3.00% | 3.00% |
Notes and debentures interest rates, Maximum | 4.99% | 4.99% |
Debt instrument, maturity date range, start | 31-Dec-14 | 31-Dec-14 |
Debt instrument, maturity date range, end | 31-Dec-45 | 31-Dec-45 |
Notes And Debentures Maturing 2014-2045 [Member] | Notes And Debentures [Member] | ||
Debt Instrument [Line Items] | ||
Carrying amount of notes and debentures | 31,516 | 22,327 |
Notes And Debentures Maturing 2014-2095 [Member] | ||
Debt Instrument [Line Items] | ||
Notes and debentures interest rates, Minimum | 5.00% | 5.00% |
Notes and debentures interest rates, Maximum | 6.99% | 6.99% |
Debt instrument, maturity date range, start | 31-Dec-14 | 31-Dec-14 |
Debt instrument, maturity date range, end | 31-Dec-95 | 31-Dec-95 |
Notes And Debentures Maturing 2014-2095 [Member] | Notes And Debentures [Member] | ||
Debt Instrument [Line Items] | ||
Carrying amount of notes and debentures | 23,260 | 28,513 |
Notes And Debentures Maturing 2014-2097 [Member] | ||
Debt Instrument [Line Items] | ||
Notes and debentures interest rates, Minimum | 7.00% | 7.00% |
Notes and debentures interest rates, Maximum | 9.10% | 9.10% |
Debt instrument, maturity date range, start | 31-Dec-14 | 31-Dec-14 |
Debt instrument, maturity date range, end | 31-Dec-97 | 31-Dec-97 |
Notes And Debentures Maturing 2014-2097 [Member] | Notes And Debentures [Member] | ||
Debt Instrument [Line Items] | ||
Carrying amount of notes and debentures | 6,153 | 6,268 |
Other Debt [Member] | Notes And Debentures [Member] | ||
Debt Instrument [Line Items] | ||
Carrying amount of notes and debentures | 0 | 1 |
Fair value of interest rate swaps recorded in debt [Member] | Notes And Debentures [Member] | ||
Debt Instrument [Line Items] | ||
Carrying amount of notes and debentures | 125 | 154 |
Debt_Debt_Maturing_Within_One_
Debt (Debt Maturing Within One Year) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Debt | ||
Current maturities of long-term debt | $6,051 | $5,477 |
Commercial paper | 0 | 20 |
Bank borrowings | 5 | 1 |
Total | $6,056 | $5,498 |
Debt_LongTerm_Debt_Scheduled_R
Debt (Long-Term Debt - Scheduled Repayments) (Details) (USD $) | 12 Months Ended |
In Millions, unless otherwise specified | Dec. 31, 2014 |
Debt | |
Long-term debt repayments scheduled for 2015 | $6,482 |
Long-term debt repayments scheduled for 2016 | 5,523 |
Long-term debt repayments scheduled for 2017 | 6,508 |
Long-term debt repayments scheduled for 2018 | 5,800 |
Long-term debt repayments scheduled for 2019 | 6,348 |
Long-term debt repayments scheduled for the period thereafter | $54,205 |
Weighted average interest rate of long-term debt repayment scheduled for 2015 | 4.00% |
Weighted average interest rate of long-term debt repayment scheduled for 2016 | 2.10% |
Weighted average interest rate of long-term debt repayment scheduled for 2017 | 2.40% |
Weighted average interest rate of long-term debt repayment scheduled for 2018 | 4.60% |
Weighted average interest rate of long-term debt repayment scheduled for 2019 | 3.70% |
Weighted average interest rate of long-term debt repayment scheduled for the period thereafter | 4.90% |
Fair_Value_Measurements_And_Di2
Fair Value Measurements And Disclosure (Narrative) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Fair Value Measurements And Disclosure | ||
Fixed income investments - maturities under 1 year | $102 | |
Fixed income investments - maturities between 1 to 3 years | 417 | |
Fixed income investments - maturities between 3 to 5 years | 75 | |
Fixed income investments - maturities for 5 or more years | 242 | |
Anticipated reclassification of holding gains (losses) during the next 12 months - cash flow hedges | 39 | |
Collateral received from counterparty | 599 | 1,600 |
Collateral submitted to counterparty | 530 | 8 |
Collateral contingently payable to the counterparty | 91 | |
Short-term investments | $1,890 |
Fair_Value_Measurements_And_Di3
Fair Value Measurements And Disclosure (Long-Term Debt And Other Financial Instruments) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Schedule of Fair Value of Separate Accounts by Major Category of Investment [Line Items] | ||
Commercial paper | $0 | $20 |
Bank borrowings | 5 | 1 |
Carrying Amount [Member] | ||
Schedule of Fair Value of Separate Accounts by Major Category of Investment [Line Items] | ||
Notes and debentures | 81,632 | 74,484 |
Commercial paper | 0 | 20 |
Bank borrowings | 5 | 1 |
Investment securities | 2,735 | 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 | 5 | 1 |
Investment securities | 2,735 | 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 | $90,367 | $79,309 |
Fair_Value_Measurements_And_Di4
Fair Value Measurements And Disclosure (Fair Value Leveling) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Domestic Equities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-Sale Securities | $1,160 | $1,049 |
Domestic Equities [Member] | Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-Sale Securities | 1,160 | 1,049 |
Domestic Equities [Member] | Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-Sale Securities | 0 | 0 |
Domestic Equities [Member] | Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-Sale Securities | 0 | 0 |
International Equities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-Sale Securities | 553 | 563 |
International Equities [Member] | Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-Sale Securities | 553 | 563 |
International Equities [Member] | Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-Sale Securities | 0 | 0 |
International Equities [Member] | Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-Sale Securities | 0 | 0 |
Fixed Income Bonds [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-Sale Securities | 836 | 759 |
Fixed Income Bonds [Member] | Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-Sale Securities | 0 | 0 |
Fixed Income Bonds [Member] | Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-Sale Securities | 836 | 759 |
Fixed Income Bonds [Member] | Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-Sale Securities | 0 | 0 |
Interest Rate Swaps [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Asset Derivatives | 157 | 191 |
Liability Derivatives | -7 | |
Interest Rate Swaps [Member] | Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Asset Derivatives | 0 | 0 |
Liability Derivatives | 0 | |
Interest Rate Swaps [Member] | Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Asset Derivatives | 157 | 191 |
Liability Derivatives | -7 | |
Interest Rate Swaps [Member] | Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Asset Derivatives | 0 | 0 |
Liability Derivatives | 0 | |
Cross-Currency Swaps [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Asset Derivatives | 1,243 | 1,951 |
Liability Derivatives | -1,506 | -519 |
Cross-Currency Swaps [Member] | Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Asset Derivatives | 0 | 0 |
Liability Derivatives | 0 | 0 |
Cross-Currency Swaps [Member] | Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Asset Derivatives | 1,243 | 1,951 |
Liability Derivatives | -1,506 | -519 |
Cross-Currency Swaps [Member] | Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Asset Derivatives | 0 | 0 |
Liability Derivatives | 0 | 0 |
Interest Rate Locks [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Asset Derivatives | 5 | |
Liability Derivatives | -133 | |
Interest Rate Locks [Member] | Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Asset Derivatives | 0 | |
Liability Derivatives | 0 | |
Interest Rate Locks [Member] | Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Asset Derivatives | 5 | |
Liability Derivatives | -133 | |
Interest Rate Locks [Member] | Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Asset Derivatives | 0 | |
Liability Derivatives | $0 |
Fair_Value_Measurements_And_Di5
Fair Value Measurements And Disclosure (Notional Amount Of Our Outstanding Derivative Positions) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Derivative [Line Items] | ||
Notional amount of outstanding derivative positions | $39,805 | $22,537 |
Interest Rate Swaps [Member] | ||
Derivative [Line Items] | ||
Notional amount of outstanding derivative positions | 6,550 | 4,750 |
Cross-Currency Swaps [Member] | ||
Derivative [Line Items] | ||
Notional amount of outstanding derivative positions | 26,505 | 17,787 |
Interest Rate Locks [Member] | ||
Derivative [Line Items] | ||
Notional amount of outstanding derivative positions | $6,750 | $0 |
Fair_Value_Measurements_And_Di6
Fair Value Measurements And Disclosure (Effect Of Derivatives On The Consolidated Statements Of Income) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Fair Value Hedging Relationships [Member] | Interest Expense [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Gain (Loss) on long-term debt | $29 | $113 | $179 |
Fair Value Hedging Relationships [Member] | Interest Rate Swaps [Member] | Interest Expense [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Gain (Loss) on interest rate swaps | -29 | -113 | -179 |
Cash Flow Hedging [Member] | Cross-Currency Swaps [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Gain (Loss) recognized in accumulated Other Comprehensive Income | 528 | 813 | 432 |
Cash Flow Hedging [Member] | Interest Rate Locks [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Gain (Loss) recognized in accumulated Other Comprehensive Income | -128 | 0 | 0 |
Cash Flow Hedging [Member] | Interest Rate Locks [Member] | Other Income Expense [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Income (expense) reclassified from accumulated Other Comprehensive Income into income | -44 | -46 | -43 |
Cash Flow Hedging [Member] | Foreign Exchange Contracts [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Gain (Loss) recognized in accumulated Other Comprehensive Income | $0 | ($2) | $5 |
Income_Taxes_Narrative_Details
Income Taxes (Narrative) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Income Taxes | |||
Combined net operating and capital loss carryforwards (tax effected) for federal income tax purposes | $222 | ||
Combined net operating and capital loss carryforwards (tax effected) for state and foreign income tax purposes | 959 | ||
Expiration year of operating and capital loss carryforwards | 31-Dec-33 | ||
Tax credit carryforwards | 945 | ||
Year through which state tax credit carryforwards expire | 31-Dec-33 | ||
Net deposits to various taxing jurisdictions | 2,258 | 2,303 | |
Accrued interest and penalties included in unrecognized tax benefits balance at year end | 973 | 1,034 | |
Net interest and penalty expense (benefit) included in income tax expense | ($64) | $35 | ($74) |
Field examinations of tax returns - most recent year completed by IRS | 2010 | ||
All audit periods prior to this year are closed for federal examination purposes | 2003 | ||
Period Start [Member] | |||
Income Tax Years [Line Items] | |||
Tax return year(s) subject to resolution with IRS Appeals Division | 2003 | ||
Period End [Member] | |||
Income Tax Years [Line Items] | |||
Tax return year(s) subject to resolution with IRS Appeals Division | 2010 |
Income_Taxes_Components_Of_Def
Income Taxes (Components Of Deferred Tax Liabilities (Assets)) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Income Taxes | ||
Depreciation and amortization | $47,082 | $43,623 |
Intangibles (nonamortizable) | 1,874 | 1,874 |
Employee benefits | -11,679 | -9,072 |
Net operating loss and other carryforwards | -2,126 | -2,272 |
Other - net | 69 | 29 |
Subtotal | 35,220 | 34,182 |
Deferred tax assets valuation allowance | 1,182 | 927 |
Net deferred tax liabilities | 36,402 | 35,109 |
Net long-term deferred tax liabilities | 37,544 | 36,308 |
Less: Net current deferred tax assets | -1,142 | -1,199 |
Net deferred tax liabilities | $36,402 | $35,109 |
Income_Taxes_Changes_In_Unreco
Income Taxes (Changes In Unrecognized Tax Benefits Balance For Federal State And Foreign Tax) (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Income Taxes | ||
Balance at beginning of year | $4,227 | $4,793 |
Increases for tax positions related to the current year | 470 | 255 |
Increases for tax positions related to prior years | 484 | 488 |
Decreases for tax positions related to prior years | -657 | -1,238 |
Lapse of statute of limitations | -38 | -24 |
Settlements | -21 | -47 |
Balance at end of year | 4,465 | 4,227 |
Accrued interest and penalties | 973 | 1,034 |
Gross unrecognized income tax benefits | 5,438 | 5,261 |
Less: Deferred federal and state income tax benefits | -434 | -481 |
Less: Tax attributable to timing items included above | -2,400 | -2,121 |
Total UTB that, if recognized, would impact the effective income tax rate as of the end of the year | $2,604 | $2,659 |
Income_Taxes_Components_of_Inc
Income Taxes (Components of Income Tax Expense) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Income Taxes | |||
Current, federal | $1,609 | $3,043 | $451 |
Deferred - net, federal | 1,904 | 5,692 | 2,256 |
Total federal income tax | 3,513 | 8,735 | 2,707 |
Current, state, local and foreign | 61 | -61 | 702 |
Deferred - net, state, local and foreign | -132 | 550 | -509 |
Total state, local and foreign income tax | -71 | 489 | 193 |
Total | $3,442 | $9,224 | $2,900 |
Income_Taxes_Reconciliation_Of
Income Taxes (Reconciliation Of Income Tax Expense Based On Federal Statutory Rate To Amount Per Effective Tax Rate) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Income Taxes | |||
Taxes computed at federal statutory rate | $3,486 | $9,722 | $3,654 |
State and local income taxes - net of federal income tax benefit | -127 | 294 | 85 |
Connecticut wireline sale | 325 | 0 | 0 |
Loss of foreign tax credits in connection with America Movil sale | 386 | 0 | 0 |
Other - net | -628 | -792 | -839 |
Total | $3,442 | $9,224 | $2,900 |
Effective Tax Rate | 34.60% | 33.20% | 27.80% |
Statutory federal income tax rate | 35.00% |
Pension_And_Postretirement_Ben3
Pension And Postretirement Benefits (Narrative) (Details) (USD $) | 1 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | 1 Months Ended | 0 Months Ended | 1 Months Ended | 12 Months Ended | ||||||
In Millions, unless otherwise specified | Oct. 31, 2013 | Dec. 31, 2014 | Sep. 30, 2014 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2014 | Jan. 01, 2015 | Sep. 09, 2013 | Jul. 31, 2014 | Dec. 31, 2016 | Dec. 31, 2017 | Dec. 31, 2021 |
Defined Benefit Plan Disclosure [Line Items] | ||||||||||||||
Period in which medicare-eligible retirees received communication of amendment of health coverage benefits | 31-Oct-13 | |||||||||||||
Year entity will provide access to retiree health insurance coverage that supplements government-sponsered Medicare through private insurance marketplace | 2015 | |||||||||||||
Defined Benefit Measurement Date | 31-Dec | |||||||||||||
Annualized cash contributions received by the trust/pension | $735 | |||||||||||||
Combined net pension and postretirement cost | 7,232 | -7,390 | 10,257 | |||||||||||
Discount rate in effect for determining net cost | 3.50% | 5.00% | ||||||||||||
Increase (decrease) in plan benefit obligations due to change in assumed rates | 250 | |||||||||||||
Percentage decrease in the actual long-term rate of return used to report the impact of change on future combined net pension and postretirement cost | 0.50% | |||||||||||||
Composite rate of compensation increase for determining projected benefit obligation | 3.00% | 3.00% | 3.00% | 3.00% | ||||||||||
Debt financed shares held By Employee Stock Ownership Plans | 0 | |||||||||||||
Deferred compensation expense | 121 | 122 | 118 | |||||||||||
Deferred compensation liability included in other noncurrent liabilities | 1,156 | 1,156 | 1,118 | 1,156 | ||||||||||
Benefit cost of the contributory savings plans | 654 | 654 | 634 | |||||||||||
December-2014 Lump-Sum Payment Offer [Member] | ||||||||||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||||||||||
Period in which lump sum offer was presented to retirement-eligible employees to receive a one-time opportunity to elect a full lump sum payment of their accrued pension | 31-Dec-14 | |||||||||||||
Date at which retirees must accept lump sum payment offer | 6-Mar-15 | |||||||||||||
Date at which retirees must have retired to receive lump sum payment | 31-Mar-15 | |||||||||||||
Pension Benefit [Member] | ||||||||||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||||||||||
Defined Benefit Plan Amendment Description | Pension plan was amended to no longer allow entry from new management employees. | |||||||||||||
Approximate lump sum value of early retirement offer to be paid in next 12 months | 5,741 | 5,741 | 5,741 | |||||||||||
Approximate lump sum value of early retirement offer | 45,163 | 45,163 | 47,238 | 45,060 | 45,163 | |||||||||
Special termination benefits | 17 | 255 | ||||||||||||
Voluntary Pension Contribution Department Of Labor Exemption Final Approval Date | 31-Jul-14 | |||||||||||||
Pension Contribution Date | 9-Sep-13 | |||||||||||||
Net assets available for benefits | 54,184 | 54,184 | 56,447 | 54,184 | ||||||||||
Preferred equity interest in Mobility | 9,021 | 9,021 | 9,209 | 9,021 | 9,104 | |||||||||
Estimated Future Pension Contribution Description | 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. | |||||||||||||
Annualized cash contributions received by the trust/pension | 560 | |||||||||||||
Required contribution to our pension plans | 175 | |||||||||||||
Defined benefit plan funded status | 90.00% | 90.00% | 90.00% | |||||||||||
Accumulated benefit obligation for pension plans | 57,949 | 57,949 | 55,077 | 57,949 | ||||||||||
Combined net pension and postretirement cost | 5,549 | -4,669 | 5,687 | |||||||||||
Prior service credits, before tax, for pension, other postretirement, or supplemental retirement benefits that will be amortized from accumulated OCI into net periodic benefit cost over the next fiscal year | -104 | |||||||||||||
Prior service credits, net of tax, for pension, other postretirement, or supplemental retirement benefits that will be amortized from accumulated OCI into net periodic benefit cost over the next fiscal year | -64 | |||||||||||||
Discount rate for determining projected benefit obligation | 4.30% | 4.30% | 5.00% | 4.30% | 4.30% | |||||||||
Discount rate in effect for determining net cost | 4.60% | 4.30% | 5.30% | |||||||||||
Long-term rate of return on plan assets | 7.75% | 7.75% | 7.75% | 8.25% | ||||||||||
Composite rate of compensation increase for determining projected benefit obligation | 3.00% | 3.00% | 3.00% | 3.00% | 3.00% | |||||||||
Composite rate of compensation increase for determining net pension cost (benefit) | 3.00% | 3.00% | 4.00% | |||||||||||
AT&T securities held by pension plans (ownership percentage) below stated percentage | 0.50% | |||||||||||||
Pension Benefit [Member] | October-2013 Lump-Sum Payment Offer [Member] | ||||||||||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||||||||||
Period in which lump sum offer was presented to retirement-eligible employees to receive a one-time opportunity to elect a full lump sum payment of their accrued pension | 31-Oct-13 | |||||||||||||
Date at which retirees must have retired to receive lump sum payment | 30-Dec-13 | |||||||||||||
Lump Sum offer discount rate determination period | 31-Aug-12 | |||||||||||||
Approximate lump sum value of early retirement offer | 2,700 | |||||||||||||
Early retirement lump sum payment | 2,700 | |||||||||||||
Special termination benefits | 15 | 250 | ||||||||||||
Pension Benefit [Member] | Tax Year 2014 [Member] | ||||||||||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||||||||||
Estimated Future Pension Contribution | 175 | |||||||||||||
Pension Benefit [Member] | Tax Year 2015 [Member] | ||||||||||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||||||||||
Estimated future pension contribution after next fiscal year | 175 | |||||||||||||
Pension Benefit [Member] | Tax Year 2016 [Member] | ||||||||||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||||||||||
Estimated future pension contribution after next fiscal year | 175 | |||||||||||||
Pension Benefit [Member] | Discount Assumption Rate Change [Member] | ||||||||||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||||||||||
Increase (decrease) in discount rate over prior year | -0.70% | 0.70% | ||||||||||||
Increase (decrease) in plan benefit obligations due to change in assumed rates | 4,854 | -4,533 | ||||||||||||
Pension Benefit [Member] | Mortality Assumption Rate Change [Member] | ||||||||||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||||||||||
Increase (decrease) in plan benefit obligations due to change in assumed rates | 1,442 | 1,986 | ||||||||||||
Postretirement Benefit [Member] | ||||||||||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||||||||||
Approximate lump sum value of early retirement offer to be paid in next 12 months | 2,134 | 2,134 | 2,134 | |||||||||||
Approximate lump sum value of early retirement offer | 7,846 | 7,846 | 8,960 | 9,295 | 7,846 | |||||||||
Special termination benefits | 0 | 1 | ||||||||||||
Combined net pension and postretirement cost | 1,683 | -2,721 | 4,570 | |||||||||||
Prior service credits, before tax, for pension, other postretirement, or supplemental retirement benefits that will be amortized from accumulated OCI into net periodic benefit cost over the next fiscal year | -1,274 | |||||||||||||
Prior service credits, net of tax, for pension, other postretirement, or supplemental retirement benefits that will be amortized from accumulated OCI into net periodic benefit cost over the next fiscal year | -790 | |||||||||||||
Discount rate for determining projected benefit obligation | 4.20% | 4.20% | 5.00% | 4.30% | 4.20% | |||||||||
Discount rate in effect for determining net cost | 5.00% | 4.30% | 5.30% | |||||||||||
Long-term rate of return on plan assets | 5.75% | 7.75% | 7.75% | 8.25% | ||||||||||
Composite rate of compensation increase for determining projected benefit obligation | 3.00% | 3.00% | 3.00% | 3.00% | 3.00% | |||||||||
Composite rate of compensation increase for determining net pension cost (benefit) | 3.00% | 3.00% | 4.00% | |||||||||||
AT&T securities held by postretirement plans (in VEBA Trust) (ownership percentage) below stated percentage | 0.50% | |||||||||||||
Postretirement Benefit [Member] | Discount Assumption Rate Change [Member] | ||||||||||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||||||||||
Increase (decrease) in discount rate over prior year | -0.80% | 0.70% | ||||||||||||
Increase (decrease) in plan benefit obligations due to change in assumed rates | 2,786 | -3,161 | ||||||||||||
Postretirement Benefit [Member] | Mortality Assumption Rate Change [Member] | ||||||||||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||||||||||
Increase (decrease) in plan benefit obligations due to change in assumed rates | 53 | 679 | ||||||||||||
Supplemental Retirement Plans [Member] | ||||||||||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||||||||||
Combined net pension and postretirement cost | 358 | 4 | 356 | |||||||||||
Prior service credits, net of tax, for pension, other postretirement, or supplemental retirement benefits that will be amortized from accumulated OCI into net periodic benefit cost over the next fiscal year | 1 | |||||||||||||
Discount rate in effect for determining net cost | 4.10% | 5.00% | ||||||||||||
Administrative Expense [Member] | ||||||||||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||||||||||
Estimated annual growth rate for health care cost | 2.50% | |||||||||||||
Dental Claims [Member] | ||||||||||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||||||||||
Estimated annual growth rate for health care cost | 3.00% | |||||||||||||
Health Care Plan Provisions [Member] | ||||||||||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||||||||||
Increase (decrease) in plan benefit obligations due to change in assumed rates | ($424) | |||||||||||||
Estimated annual growth rate for health care cost | 4.50% | 5.00% | ||||||||||||
Estimated annual health care cost trend rate for prior and current year | 4.50% | 5.00% | ||||||||||||
Prescription Drug Cost - Medicare Eligible Participants [Member] | ||||||||||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||||||||||
Estimated annual growth rate for health care cost | 4.50% | |||||||||||||
Estimated annual health care cost trend rate for prior and current year | 4.50% | |||||||||||||
Prescription Drug Cost - non-Medicare Eligible Participants [Member] | ||||||||||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||||||||||
Estimated annual growth rate for health care cost | 4.50% | |||||||||||||
Estimated annual health care cost trend rate for prior and current year | 6.00% |
Pension_And_Postretirement_Ben4
Pension And Postretirement Benefits (Change In The Projected Benefit Obligation) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Pension Benefit [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Benefit obligation at beginning of year | $56,560 | $58,911 | |
Service cost - benefits earned during the period | 1,134 | 1,321 | 1,216 |
Interest cost on projected benefit obligation | 2,470 | 2,429 | 2,800 |
Amendments | -73 | 0 | |
Actuarial (gain) loss | 6,269 | -2,390 | |
Special termination benefits | 17 | 255 | |
Benefits paid | -6,543 | -3,966 | |
Transfer for sale of Connecticut wireline operations | -293 | 0 | |
Plan transfers | 2 | 0 | |
Benefit obligation at end of year | 59,543 | 56,560 | 58,911 |
Postretirement Benefit [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Benefit obligation at beginning of year | 30,285 | 37,431 | |
Service cost - benefits earned during the period | 233 | 352 | 336 |
Interest cost on projected benefit obligation | 1,458 | 1,532 | 1,725 |
Amendments | -617 | -4,460 | |
Actuarial (gain) loss | 1,822 | -2,098 | |
Special termination benefits | 0 | 1 | |
Benefits paid | -2,298 | -2,473 | |
Transfer for sale of Connecticut wireline operations | -174 | 0 | |
Plan transfers | 0 | 0 | |
Benefit obligation at end of year | 30,709 | 30,285 | 37,431 |
Supplemental Retirement Plans [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Service cost - benefits earned during the period | 7 | 9 | 10 |
Interest cost on projected benefit obligation | $109 | $101 | $116 |
Pension_And_Postretirement_Ben5
Pension And Postretirement Benefits (Change In The Value Of Plan Assets And The Plans' Funded Status) (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Pension Benefit [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Fair value of plan assets at beginning of year | $47,238 | $45,060 |
Actual return on plan assets | 4,213 | 5,935 |
Benefits paid | -6,543 | -3,966 |
Contributions | 562 | 209 |
Transfer for sale of Connecticut wireline operations | -308 | 0 |
Other | 1 | 0 |
Fair value of plan assets at end of year | 45,163 | 47,238 |
Unfunded status at end of year | -14,380 | -9,322 |
Postretirement Benefit [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Fair value of plan assets at beginning of year | 8,960 | 9,295 |
Actual return on plan assets | 384 | 1,347 |
Benefits paid | -1,498 | -1,682 |
Contributions | 0 | 0 |
Transfer for sale of Connecticut wireline operations | 0 | 0 |
Other | 0 | 0 |
Fair value of plan assets at end of year | 7,846 | 8,960 |
Unfunded status at end of year | ($22,863) | ($21,325) |
Recovered_Sheet2
Pension and Postretirement Benefits (Net Assets Available For Benefits) (Details) (Pension Benefit [Member], USD $) | Dec. 31, 2014 | Dec. 31, 2013 | Sep. 09, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||||
Pension Benefit [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Plan assets recognized in the consolidated financial statements | $45,163 | $47,238 | $45,060 | |
Preferred equity interest in Mobility | 9,021 | 9,209 | 9,104 | |
Net assets available for benefits | $54,184 | $56,447 |
Pension_And_Postretirement_Ben6
Pension And Postretirement Benefits (Employee Benefit Obligation Amounts Recognized) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Pension Benefit [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Current portion of employee benefit obligation | $0 | $0 |
Employee benefit obligation | -14,380 | -9,322 |
Net amount recognized | -14,380 | -9,322 |
Postretirement Benefit [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Current portion of employee benefit obligation | -1,842 | -1,949 |
Employee benefit obligation | -21,021 | -19,376 |
Net amount recognized | ($22,863) | ($21,325) |
Pension_And_Postretirement_Ben7
Pension And Postretirement Benefits (Net Periodic Benefit Cost) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Defined Benefit Plan Disclosure [Line Items] | |||
Actuarial (gain) loss | $7,869 | ($7,584) | $9,994 |
Net periodic benefit (credit) cost | 7,232 | -7,390 | 10,257 |
Pension Benefit [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Service cost - benefits earned during the period | 1,134 | 1,321 | 1,216 |
Interest cost on projected benefit obligation | 2,470 | 2,429 | 2,800 |
Expected return on assets | -3,380 | -3,312 | -3,520 |
Amortization of prior service cost (credit) | -94 | -94 | -15 |
Actuarial (gain) loss | 5,419 | -5,013 | 5,206 |
Net periodic benefit (credit) cost | 5,549 | -4,669 | 5,687 |
Postretirement Benefit [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Service cost - benefits earned during the period | 233 | 352 | 336 |
Interest cost on projected benefit obligation | 1,458 | 1,532 | 1,725 |
Expected return on assets | -653 | -706 | -811 |
Amortization of prior service cost (credit) | -1,448 | -1,161 | -927 |
Actuarial (gain) loss | 2,093 | -2,738 | 4,247 |
Net periodic benefit (credit) cost | 1,683 | -2,721 | 4,570 |
Supplemental Retirement Plans [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Service cost - benefits earned during the period | 7 | 9 | 10 |
Interest cost on projected benefit obligation | 109 | 101 | 116 |
Amortization of prior service cost (credit) | -1 | 0 | 0 |
Actuarial (gain) loss | 243 | -106 | 230 |
Net periodic benefit (credit) cost | $358 | $4 | $356 |
Pension_And_Postretirement_Ben8
Pension And Postretirement Benefits (Other Changes Recognized in Other Comprehensive Income) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Defined Benefit Plan Disclosure [Line Items] | |||
Prior service (cost) credit | $428 | $2,765 | $2,249 |
Amortization of prior service cost (credit) | -959 | -782 | -588 |
Reclassification to income of prior service credit | 26 | 11 | 0 |
Pension Benefit [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Balance at beginning of year | 583 | 641 | 92 |
Prior service (cost) credit | 45 | 0 | 559 |
Amortization of prior service cost (credit) | -58 | -58 | -10 |
Reclassification to income of prior service credit | 5 | 0 | 0 |
Total recognized in other comprehensive (income) loss | -8 | -58 | 549 |
Balance at end of year | 575 | 583 | 641 |
Postretirement Benefit [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Balance at beginning of year | 6,812 | 4,766 | 3,655 |
Prior service (cost) credit | 383 | 2,765 | 1,686 |
Amortization of prior service cost (credit) | -898 | -719 | -575 |
Reclassification to income of prior service credit | -40 | 0 | 0 |
Total recognized in other comprehensive (income) loss | -555 | 2,046 | 1,111 |
Balance at end of year | 6,257 | 6,812 | 4,766 |
Supplemental Retirement Plans [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Prior service (cost) credit | -11 | -1 | -1 |
Amortization of prior service cost (credit) | -1 | 0 | 0 |
Total recognized in other comprehensive (income) loss | ($12) | ($1) | ($1) |
Recovered_Sheet3
Pension and Postretirement Benefits (Weighted Average Assumptions - Projected Benefit Obligation And Net Pension And Postemployment Benefit Cost) (Details) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
Dec. 31, 2014 | Sep. 30, 2014 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Defined Benefit Plan Disclosure [Line Items] | ||||||
Discount rate in effect for determining net cost | 3.50% | 5.00% | ||||
Composite rate of compensation increase for determining projected benefit obligation | 3.00% | 3.00% | 3.00% | |||
Pension Benefit [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Discount rate for determining projected benefit obligation at December 31 | 4.30% | 4.30% | 5.00% | 4.30% | ||
Discount rate in effect for determining net cost | 4.60% | 4.30% | 5.30% | |||
Long-term rate of return on plan assets | 7.75% | 7.75% | 7.75% | 8.25% | ||
Composite rate of compensation increase for determining projected benefit obligation | 3.00% | 3.00% | 3.00% | 3.00% | ||
Composite rate of compensation increase for determining net pension cost (benefit) | 3.00% | 3.00% | 4.00% | |||
Postretirement Benefit [Member] | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Discount rate for determining projected benefit obligation at December 31 | 4.20% | 4.20% | 5.00% | 4.30% | ||
Discount rate in effect for determining net cost | 5.00% | 4.30% | 5.30% | |||
Long-term rate of return on plan assets | 5.75% | 7.75% | 7.75% | 8.25% | ||
Composite rate of compensation increase for determining projected benefit obligation | 3.00% | 3.00% | 3.00% | 3.00% | ||
Composite rate of compensation increase for determining net pension cost (benefit) | 3.00% | 3.00% | 4.00% |
Pension_And_Postretirement_Ben9
Pension And Postretirement Benefits (One Percentage - Point Changed In Combined Medical And Dental Cost Trend Rate) (Details) (USD $) | 12 Months Ended |
In Millions, unless otherwise specified | Dec. 31, 2014 |
Pension And Postretirement Benefits | |
Effect of one percentage-point increase on service and interest cost components | $79 |
Effect of one percentage-point decrease on service and interest cost components | -67 |
Effect of one percentage-point increase on accumulated postretirement benefit obligation | 796 |
Effect of one percentage-point decrease on accumulated postretirement benefit obligation | ($707) |
Recovered_Sheet4
Pension And Postretirement Benefits (Schedule Of Defined Benefit Plan Targeted And Actual Plan Asset Allocations) (Details) | 12 Months Ended | |
Dec. 31, 2014 | Dec. 31, 2013 | |
Pension Assets [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual plan asset allocation percentage | 100.00% | 100.00% |
Pension Assets [Member] | Domestic Equity Securities [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Targeted plan asset allocation percentage, Minimum | 21.00% | |
Targeted plan asset allocation percentage, Maximum | 31.00% | |
Actual plan asset allocation percentage | 23.00% | 25.00% |
Pension Assets [Member] | Fixed Income Securities [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Targeted plan asset allocation percentage, Minimum | 34.00% | |
Targeted plan asset allocation percentage, Maximum | 44.00% | |
Actual plan asset allocation percentage | 38.00% | 33.00% |
Pension Assets [Member] | International Equity Securities [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Targeted plan asset allocation percentage, Minimum | 10.00% | |
Targeted plan asset allocation percentage, Maximum | 20.00% | |
Actual plan asset allocation percentage | 14.00% | 16.00% |
Pension Assets [Member] | Private Equity Funds [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Targeted plan asset allocation percentage, Minimum | 4.00% | |
Targeted plan asset allocation percentage, Maximum | 14.00% | |
Actual plan asset allocation percentage | 12.00% | 12.00% |
Pension Assets [Member] | Real Assets [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Targeted plan asset allocation percentage, Minimum | 6.00% | |
Targeted plan asset allocation percentage, Maximum | 16.00% | |
Actual plan asset allocation percentage | 11.00% | 11.00% |
Pension Assets [Member] | Other Assets [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Targeted plan asset allocation percentage, Minimum | 0.00% | |
Targeted plan asset allocation percentage, Maximum | 5.00% | |
Actual plan asset allocation percentage | 2.00% | 3.00% |
Postretirement Assets [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual plan asset allocation percentage | 100.00% | 100.00% |
Postretirement Assets [Member] | Domestic Equity Securities [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Targeted plan asset allocation percentage, Minimum | 24.00% | |
Targeted plan asset allocation percentage, Maximum | 34.00% | |
Actual plan asset allocation percentage | 29.00% | 25.00% |
Postretirement Assets [Member] | Fixed Income Securities [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Targeted plan asset allocation percentage, Minimum | 24.00% | |
Targeted plan asset allocation percentage, Maximum | 34.00% | |
Actual plan asset allocation percentage | 29.00% | 24.00% |
Postretirement Assets [Member] | International Equity Securities [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Targeted plan asset allocation percentage, Minimum | 15.00% | |
Targeted plan asset allocation percentage, Maximum | 25.00% | |
Actual plan asset allocation percentage | 20.00% | 20.00% |
Postretirement Assets [Member] | Private Equity Funds [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Targeted plan asset allocation percentage, Minimum | 0.00% | |
Targeted plan asset allocation percentage, Maximum | 8.00% | |
Actual plan asset allocation percentage | 3.00% | 4.00% |
Postretirement Assets [Member] | Real Assets [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Targeted plan asset allocation percentage, Minimum | 0.00% | |
Targeted plan asset allocation percentage, Maximum | 6.00% | |
Actual plan asset allocation percentage | 1.00% | 1.00% |
Postretirement Assets [Member] | Other Assets [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Targeted plan asset allocation percentage, Minimum | 12.00% | |
Targeted plan asset allocation percentage, Maximum | 22.00% | |
Actual plan asset allocation percentage | 18.00% | 26.00% |
Recovered_Sheet5
Pension And Postretirement Benefits (Schedule Of Fair Value Of Pension And Postretirement Assets And Liabilities By Level) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Pension Assets And Liabilities Fair Value [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Non-interest bearing cash | $45 | $65 |
Interest bearing cash | 127 | 324 |
Foreign currency contracts | 25 | 3 |
Equity securities - Domestic equities | 8,687 | 9,844 |
Equity securities - International equities | 4,976 | 6,438 |
Fixed income securities - Asset-backed securities | 611 | 556 |
Fixed income securities - Mortgage-backed securities | 1,741 | 2,470 |
Fixed income securities - Collateralized mortgage-backed securities | 418 | 364 |
Fixed income securities - Collateralized mortgage obligations/REMICS | 531 | 514 |
Fixed income securities - Corporate and other fixed income instruments and funds | 7,748 | 5,841 |
Fixed income securities - Government and municipal bonds | 5,021 | 4,581 |
Private equity funds | 5,399 | 5,724 |
Real estate and real assets | 4,845 | 5,194 |
Commingled funds | 5,825 | 6,362 |
Securities lending collateral | 3,450 | 3,464 |
Receivable for variation margin | 6 | 12 |
Purchased options | 1 | |
Assets at fair value | 49,456 | 51,756 |
Investments sold short and other liabilities at fair value | -910 | -624 |
Total plan net assets at fair value | 48,546 | 51,132 |
Other assets (liabilities) | -3,383 | -3,894 |
Total Plan Net Assets | 45,163 | 47,238 |
Pension Assets And Liabilities Fair Value [Member] | Level 1 [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Non-interest bearing cash | 45 | 65 |
Interest bearing cash | 0 | 0 |
Foreign currency contracts | 0 | 0 |
Equity securities - Domestic equities | 8,613 | 9,841 |
Equity securities - International equities | 4,805 | 6,431 |
Fixed income securities - Asset-backed securities | 0 | 0 |
Fixed income securities - Mortgage-backed securities | 0 | 0 |
Fixed income securities - Collateralized mortgage-backed securities | 0 | 0 |
Fixed income securities - Collateralized mortgage obligations/REMICS | 0 | 0 |
Fixed income securities - Corporate and other fixed income instruments and funds | 97 | 154 |
Fixed income securities - Government and municipal bonds | 145 | 15 |
Private equity funds | 0 | 0 |
Real estate and real assets | 0 | 0 |
Commingled funds | 0 | 0 |
Securities lending collateral | 310 | 390 |
Receivable for variation margin | 6 | 12 |
Purchased options | 1 | |
Assets at fair value | 14,022 | 16,908 |
Investments sold short and other liabilities at fair value | -650 | -619 |
Total plan net assets at fair value | 13,372 | 16,289 |
Pension Assets And Liabilities Fair Value [Member] | Level 2 [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Non-interest bearing cash | 0 | 0 |
Interest bearing cash | 127 | 324 |
Foreign currency contracts | 25 | 3 |
Equity securities - Domestic equities | 74 | 3 |
Equity securities - International equities | 171 | 7 |
Fixed income securities - Asset-backed securities | 610 | 553 |
Fixed income securities - Mortgage-backed securities | 1,741 | 2,470 |
Fixed income securities - Collateralized mortgage-backed securities | 418 | 364 |
Fixed income securities - Collateralized mortgage obligations/REMICS | 531 | 514 |
Fixed income securities - Corporate and other fixed income instruments and funds | 7,210 | 5,147 |
Fixed income securities - Government and municipal bonds | 4,876 | 4,566 |
Private equity funds | 0 | 0 |
Real estate and real assets | 0 | 0 |
Commingled funds | 5,823 | 6,358 |
Securities lending collateral | 3,140 | 3,074 |
Receivable for variation margin | 0 | 0 |
Purchased options | 0 | |
Assets at fair value | 24,746 | 23,383 |
Investments sold short and other liabilities at fair value | -260 | -5 |
Total plan net assets at fair value | 24,486 | 23,378 |
Pension Assets And Liabilities Fair Value [Member] | Level 3 [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Non-interest bearing cash | 0 | 0 |
Interest bearing cash | 0 | 0 |
Foreign currency contracts | 0 | 0 |
Equity securities - Domestic equities | 0 | 0 |
Equity securities - International equities | 0 | 0 |
Fixed income securities - Asset-backed securities | 1 | 3 |
Fixed income securities - Mortgage-backed securities | 0 | 0 |
Fixed income securities - Collateralized mortgage-backed securities | 0 | 0 |
Fixed income securities - Collateralized mortgage obligations/REMICS | 0 | 0 |
Fixed income securities - Corporate and other fixed income instruments and funds | 441 | 540 |
Fixed income securities - Government and municipal bonds | 0 | 0 |
Private equity funds | 5,399 | 5,724 |
Real estate and real assets | 4,845 | 5,194 |
Commingled funds | 2 | 4 |
Securities lending collateral | 0 | 0 |
Receivable for variation margin | 0 | 0 |
Purchased options | 0 | |
Assets at fair value | 10,688 | 11,465 |
Investments sold short and other liabilities at fair value | 0 | 0 |
Total plan net assets at fair value | 10,688 | 11,465 |
Postretirement Assets And Liabilities Fair Value [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Interest bearing cash | 1,476 | 2,478 |
Equity securities - Domestic equities | 1,606 | 1,609 |
Equity securities - International equities | 1,405 | 1,527 |
Fixed income securities - Asset-backed securities | 46 | 37 |
Fixed income securities - Collateralized mortgage-backed securities | 113 | 110 |
Fixed income securities - Collateralized mortgage obligations/REMICS | 51 | 56 |
Fixed income securities - Corporate and other fixed income instruments and funds | 397 | 385 |
Fixed income securities - Government and municipal bonds | 615 | 559 |
Commingled funds | 1,961 | 1,901 |
Private equity assets | 218 | 309 |
Real assets | 96 | 111 |
Securities lending collateral | 173 | 391 |
Foreign exchange contracts receivable | 3 | |
Assets at fair value | 9,476 | |
Foreign exchange contracts payable | 3 | |
Liabilities at fair value | 3 | |
Total plan net assets at fair value | 8,157 | 9,473 |
Other assets (liabilities) | -311 | -513 |
Total Plan Net Assets | 7,846 | 8,960 |
Postretirement Assets And Liabilities Fair Value [Member] | Level 1 [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Interest bearing cash | 278 | 405 |
Equity securities - Domestic equities | 1,606 | 1,609 |
Equity securities - International equities | 1,405 | 1,527 |
Fixed income securities - Asset-backed securities | 0 | 0 |
Fixed income securities - Collateralized mortgage-backed securities | 0 | 0 |
Fixed income securities - Collateralized mortgage obligations/REMICS | 0 | 0 |
Fixed income securities - Corporate and other fixed income instruments and funds | 0 | 0 |
Fixed income securities - Government and municipal bonds | 0 | 0 |
Commingled funds | 0 | 0 |
Private equity assets | 0 | 0 |
Real assets | 0 | 0 |
Securities lending collateral | 0 | 19 |
Foreign exchange contracts receivable | 3 | |
Assets at fair value | 3,563 | |
Foreign exchange contracts payable | 3 | |
Liabilities at fair value | 3 | |
Total plan net assets at fair value | 3,289 | 3,560 |
Postretirement Assets And Liabilities Fair Value [Member] | Level 2 [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Interest bearing cash | 1,198 | 2,073 |
Equity securities - Domestic equities | 0 | 0 |
Equity securities - International equities | 0 | 0 |
Fixed income securities - Asset-backed securities | 46 | 35 |
Fixed income securities - Collateralized mortgage-backed securities | 113 | 110 |
Fixed income securities - Collateralized mortgage obligations/REMICS | 50 | 53 |
Fixed income securities - Corporate and other fixed income instruments and funds | 397 | 367 |
Fixed income securities - Government and municipal bonds | 614 | 558 |
Commingled funds | 1,960 | 1,899 |
Private equity assets | 0 | 0 |
Real assets | 0 | 0 |
Securities lending collateral | 173 | 372 |
Foreign exchange contracts receivable | 0 | |
Assets at fair value | 5,467 | |
Foreign exchange contracts payable | 0 | |
Liabilities at fair value | 0 | |
Total plan net assets at fair value | 4,551 | 5,467 |
Postretirement Assets And Liabilities Fair Value [Member] | Level 3 [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Interest bearing cash | 0 | 0 |
Equity securities - Domestic equities | 0 | 0 |
Equity securities - International equities | 0 | 0 |
Fixed income securities - Asset-backed securities | 0 | 2 |
Fixed income securities - Collateralized mortgage-backed securities | 0 | 0 |
Fixed income securities - Collateralized mortgage obligations/REMICS | 1 | 3 |
Fixed income securities - Corporate and other fixed income instruments and funds | 0 | 18 |
Fixed income securities - Government and municipal bonds | 1 | 1 |
Commingled funds | 1 | 2 |
Private equity assets | 218 | 309 |
Real assets | 96 | 111 |
Securities lending collateral | 0 | 0 |
Foreign exchange contracts receivable | 0 | |
Assets at fair value | 446 | |
Foreign exchange contracts payable | 0 | |
Liabilities at fair value | 0 | |
Total plan net assets at fair value | $317 | $446 |
Recovered_Sheet6
Pension And Postretirement Benefits (Fair Value Assets Measured On Recurring Basis Unobservable Input (Level 3) Reconciliation) (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Pension Assets [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Balance, beginning of year | $11,465 | $11,605 |
Realized gains (losses) | 1,543 | 562 |
Unrealized gains (losses) | -323 | 1,066 |
Transfers in | 22 | 5 |
Transfers out | -25 | -442 |
Purchases | 1,265 | 1,643 |
Sales | -3,259 | -2,974 |
Balance, end of year | 10,688 | 11,465 |
Pension Assets [Member] | Equities [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Balance, beginning of year | 0 | 0 |
Realized gains (losses) | 0 | -3 |
Unrealized gains (losses) | 0 | 3 |
Transfers in | 0 | 0 |
Transfers out | 0 | 0 |
Purchases | 1 | 0 |
Sales | -1 | 0 |
Balance, end of year | 0 | 0 |
Pension Assets [Member] | Fixed Income Funds [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Balance, beginning of year | 547 | 1,042 |
Realized gains (losses) | 41 | 53 |
Unrealized gains (losses) | -1 | -8 |
Transfers in | 0 | 5 |
Transfers out | -3 | -442 |
Purchases | 55 | 75 |
Sales | -195 | -178 |
Balance, end of year | 444 | 547 |
Pension Assets [Member] | Private Equity Funds [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Balance, beginning of year | 5,724 | 5,797 |
Realized gains (losses) | 696 | 390 |
Unrealized gains (losses) | -76 | 546 |
Transfers in | 0 | 0 |
Transfers out | -22 | 0 |
Purchases | 531 | 1,214 |
Sales | -1,454 | -2,223 |
Balance, end of year | 5,399 | 5,724 |
Pension Assets [Member] | Real Estate And Real Assets [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Balance, beginning of year | 5,194 | 4,766 |
Realized gains (losses) | 806 | 122 |
Unrealized gains (losses) | -246 | 525 |
Transfers in | 22 | 0 |
Transfers out | 0 | 0 |
Purchases | 678 | 354 |
Sales | -1,609 | -573 |
Balance, end of year | 4,845 | 5,194 |
Postretirement Assets [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Balance, beginning of year | 446 | 474 |
Realized gains (losses) | 42 | 14 |
Unrealized gains (losses) | -17 | 63 |
Transfers in | 1 | |
Transfers out | -1 | -1 |
Purchases | 6 | 121 |
Sales | -159 | -226 |
Balance, end of year | 317 | 446 |
Postretirement Assets [Member] | Fixed Income Funds [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Balance, beginning of year | 26 | 21 |
Realized gains (losses) | 0 | 0 |
Unrealized gains (losses) | 1 | 1 |
Transfers in | 1 | |
Transfers out | -1 | -1 |
Purchases | 0 | 5 |
Sales | -23 | -1 |
Balance, end of year | 3 | 26 |
Postretirement Assets [Member] | Private Equity Funds [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Balance, beginning of year | 309 | 343 |
Realized gains (losses) | 45 | 2 |
Unrealized gains (losses) | -29 | 58 |
Transfers in | 0 | |
Transfers out | 0 | 0 |
Purchases | 6 | 89 |
Sales | -113 | -183 |
Balance, end of year | 218 | 309 |
Postretirement Assets [Member] | Real Assets [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Balance, beginning of year | 111 | 110 |
Realized gains (losses) | -3 | 12 |
Unrealized gains (losses) | 11 | 4 |
Transfers in | 0 | |
Transfers out | 0 | 0 |
Purchases | 0 | 27 |
Sales | -23 | -42 |
Balance, end of year | $96 | $111 |
Recovered_Sheet7
Pension And Postretirement Benefits (Estimated Future Benefit Payments) (Details) (USD $) | Dec. 31, 2014 |
In Millions, unless otherwise specified | |
Pension Benefit [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Estimated future benefit payments under our pension and postretirement plans - 2015 | $5,741 |
Estimated future benefit payments under our pension and postretirement plans - 2016 | 4,184 |
Estimated future benefit payments under our pension and postretirement plans - 2017 | 4,144 |
Estimated future benefit payments under our pension and postretirement plans - 2018 | 4,066 |
Estimated future benefit payments under our pension and postretirement plans - 2019 | 4,010 |
Estimated future benefit payments under our pension and postretirement plans - Years 2020 - 2024 | 19,753 |
Postretirement Benefit [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Estimated future benefit payments under our pension and postretirement plans - 2015 | 2,134 |
Estimated future benefit payments under our pension and postretirement plans - 2016 | 2,063 |
Estimated future benefit payments under our pension and postretirement plans - 2017 | 2,000 |
Estimated future benefit payments under our pension and postretirement plans - 2018 | 1,962 |
Estimated future benefit payments under our pension and postretirement plans - 2019 | 1,952 |
Estimated future benefit payments under our pension and postretirement plans - Years 2020 - 2024 | $9,324 |
Recovered_Sheet8
Pension And Postretirement Benefits (Accumulated Benefit Obligations In Excess Of Plan Assets) (Details) (Supplemental Retirement Plans [Member], USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Supplemental Retirement Plans [Member] | ||
Pension and Postretirement Benefits [Line Items] | ||
Projected benefit obligation | ($2,458) | ($2,280) |
Accumulated benefit obligation | -2,410 | -2,227 |
Fair value of plan assets | $0 | $0 |
ShareBased_Payments_Narrative_
Share-Based Payments (Narrative) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based payment arrangements Income tax benefits recognized | $122 | $175 | $195 |
Number of authorized shares of common stock for share-based payment arrangements (in shares) | 117 | ||
Total unrecognized compensation cost related to nonvested share-based payment arrangements granted | 425 | ||
Weighted-average period to recognize the cost (years) - nonvested units | 2 years 3 months 7 days | ||
Total fair value of shares vested during the year - nonvested units | 327 | 336 | 333 |
Cash proceeds from exercise of stock options | $43 | $135 | $517 |
Performance Stock Units [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Vesting period | 3 years 0 months 0 days | ||
Restricted Stock Units | Minimum Vesting Period [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Vesting period | 2 years 0 months 0 days | ||
Restricted Stock Units | Maximum Vesting Period [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Vesting period | 7 years 0 months 0 days | ||
Other Nonvested Stock Units [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Vesting period | 3 years 0 months 0 days |
ShareBased_Payments_Compensati
Share-Based Payments (Compensation Cost And Valuation Assumption) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Share-Based Payment | |||
Performance stock units | $226 | $381 | $397 |
Restricted stock and stock units | 93 | 80 | 102 |
Other nonvested stock units | -1 | -3 | 12 |
Total | $318 | $458 | $511 |
ShareBased_Payments_Summary_Of
Share-Based Payments (Summary Of Nonvested Stock Units Activity) (Details) (USD $) | 12 Months Ended |
In Millions, except Per Share data, unless otherwise specified | Dec. 31, 2014 |
Share-Based Payment | |
Beginning balance - outstanding nonvested units | 24 |
Granted - nonvested units (period) | 14 |
Vested - nonvested units (period) | -11 |
Forfeited - nonvested units (period) | -1 |
Ending balance - outstanding nonvested units | 26 |
Beginning balance - weighted average exercise price of outstanding nonvested units | $31.93 |
Weighted average exercise price - granted - nonvested units | $33.39 |
Weighted average exercise price - vested - nonvested units | $29.91 |
Weighted average exercise price - forfeited nonvested units | $32.60 |
Ending balance - weighted average exercise price of nonvested units | $33.52 |
Stockholders_Equity_Details
Stockholder's Equity (Details) (USD $) | 3 Months Ended | 12 Months Ended | 1 Months Ended | ||||||||
In Millions, except Share data, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | 31-May-13 | Mar. 31, 2014 | Mar. 31, 2013 | Jul. 31, 2012 | Dec. 31, 2010 |
Equity, Class of Treasury Stock [Line Items] | |||||||||||
Authorized common shares (in shares) | 14,000,000,000 | 14,000,000,000 | 14,000,000,000 | 14,000,000,000 | |||||||
Authorized preferred shares (in shares) | 10,000,000 | 10,000,000 | 10,000,000 | 10,000,000 | |||||||
Preferred stock outstanding (in shares) | 0 | 0 | 0 | 0 | |||||||
Stockholder's Equity | |||||||||||
Quarterly dividend amount declared per common shares (per share) | $0.47 | $0.46 | $0.45 | $1.85 | $1.81 | $1.77 | |||||
Preferred Equity Interest Purchase Rights Description | After a period of five years from the contribution or, if earlier, the date upon which the pension plan trust is fully funded as determined under GAAP, AT&T has a right to purchase from the pension plan trust some or all of the preferred equity interest at the greater of their fair market value or minimum liquidation value plus any unpaid cumulative dividends. In addition, AT&T will have the right to purchase the preferred equity interest in the event AT&T’s ownership of Mobility is less than 50% or there is a transaction that results in the transfer of 50% or more of the pension plan trust’s assets to an entity not under common control with AT&T (collectively, a change of control). The pension plan trust has the right to require AT&T to purchase the preferred equity interest at the greater of their fair market value or minimum liquidation value plus any unpaid cumulative dividends, and in installments, as specified in the contribution agreement upon the occurrence of any of the following: (1) at any time if the ratio of debt to total capitalization of Mobility exceeds that of AT&T, (2) the date on which AT&T Inc. is rated below investment grade for two consecutive calendar quarters, (3) upon a change of control if AT&T does not exercise its purchase option, or (4) at any time after a seven-year period from the contribution date. In the event AT&T elects or is required to purchase the preferred equity interest, AT&T may elect to settle the purchase price in cash or shares of AT&T common stock or a combination thereof. Because the preferred equity interest was not considered outstanding for accounting purposes at year-end, it did not affect the calculation of earnings per share. | ||||||||||
Common Class A [Member] | |||||||||||
Equity, Class of Treasury Stock [Line Items] | |||||||||||
Treasury Stock, Shares, Acquired | 48,000,000 | 366,000,000 | |||||||||
Treasury Stock, Value, Acquired, Cost Method | $1,617 | $13,028 | |||||||||
Common Class A [Member] | Stock Repurchase Program March 2014 [Member] | |||||||||||
Equity, Class of Treasury Stock [Line Items] | |||||||||||
Stock Repurchase Program, Number of Shares Authorized to be Repurchased | 300,000,000 | ||||||||||
Common Class A [Member] | Stock Repurchase Program March 2013 [Member] | |||||||||||
Equity, Class of Treasury Stock [Line Items] | |||||||||||
Stock Repurchase Program, Number of Shares Authorized to be Repurchased | 300,000,000 | ||||||||||
Common Class A [Member] | Stock Repurchase Program July 2012 [Member] | |||||||||||
Equity, Class of Treasury Stock [Line Items] | |||||||||||
Stock Repurchase Program, Number of Shares Authorized to be Repurchased | 300,000,000 | ||||||||||
Stock Repurchase Program, End Date | 2013-05 | ||||||||||
Common Class A [Member] | Stock Repurchase Program December 2010 [Member] | |||||||||||
Equity, Class of Treasury Stock [Line Items] | |||||||||||
Stock Repurchase Program, Number of Shares Authorized to be Repurchased | 300,000,000 | ||||||||||
Stock Repurchase Program, Start Date | 2012-12 | ||||||||||
Stock Repurchase Program, End Date | 2012-12 |
Additional_Financial_Informati2
Additional Financial Information (Consolidated Balance Sheets) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Additional Financial Information [Abstract] | ||
Accounts payable | $14,984 | $11,561 |
Accrued payroll and commissions | 1,967 | 1,985 |
Current portion of employee benefit obligation | 1,842 | 1,949 |
Accrued interest | 1,597 | 1,559 |
Other | 3,202 | 4,053 |
Total accounts payable and accrued liabilities | $23,592 | $21,107 |
Additional_Financial_Informati3
Additional Financial Information (Consolidated Statements Of Income) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Additional Financial Information [Abstract] | |||
Advertising expense | $3,272 | $3,268 | $2,910 |
Interest expense incurred | 3,847 | 4,224 | 3,707 |
Capitalized interest | -234 | -284 | -263 |
Total interest expense | $3,613 | $3,940 | $3,444 |
Additional_Financial_Informati4
Additional Financial Information (Consolidated Statements Of Cash Flows) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Additional Financial Information [Abstract] | |||
Interest | $4,099 | $4,302 | $3,714 |
Income taxes, net of refunds | $1,532 | $1,985 | $458 |
Additional_Financial_Informati5
Additional Financial Information (Narrative) (Details) | 12 Months Ended | 0 Months Ended | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Jan. 31, 2015 | Dec. 31, 2015 | |
Additional Financial Information [Line Items] | |||||
Number of customers exceeding threshold for significance | 0 | 0 | 0 | ||
Threshold for customer significance (as a percent of consolidated revenues) (in hundredths) | 10.00% | 10.00% | 10.00% | ||
Concentration Risk [Line Items] | |||||
Approximate number of persons employed at a point in time | 253,000 | ||||
Workforce Subject to Collective Bargaining Arrangements [Member] | |||||
Concentration Risk [Line Items] | |||||
Percentage of employees represented by CWA, IBEW, or other unions | 53% | ||||
Workforce Subject to Collective Bargaining Arrangements Expiring within One Year [Member] | Non Mobility [Member] | |||||
Concentration Risk [Line Items] | |||||
Number of employees under contracts where union may call a work stoppage | 41,000 | ||||
Relevant union contract expiration year | 12/31/15 | ||||
Workforce Subject to Collective Bargaining Arrangements Expiring within One Year [Member] | Midwest Wireline [Member] | |||||
Concentration Risk [Line Items] | |||||
Number of employees under contracts where union may call a work stoppage | 12,000 | ||||
Relevant union contract expiration year | 12/31/15 | ||||
Number of states in which entity operates | 5 | ||||
Workforce Subject to Collective Bargaining Arrangements Expiring within One Year [Member] | Southeast Wireline [Member] | |||||
Concentration Risk [Line Items] | |||||
Number of employees under contracts where union may call a work stoppage | 24,000 | ||||
Relevant union contract expiration year | 12/31/15 | ||||
Number of states in which entity operates | 9 |
Recovered_Sheet9
Sale Of Equipment Installment Receivables (Narrative) (Details) (USD $) | 0 Months Ended | 12 Months Ended | ||
In Millions, unless otherwise specified | Jun. 27, 2014 | Dec. 31, 2014 | Jun. 27, 2014 | Dec. 31, 2013 |
Changes In Other Assets [Line Items] | ||||
Equipment installment sales - maximum installment period (in months) | 0 years 30 months 0 days | |||
Receivables sold during period (in millions) | $4,126 | |||
Cash proceeds from sale of receivables | 2,528 | |||
Deferred purchase price recorded from sale of receivables | 1,629 | |||
Deferred Purchase Price [Member] | ||||
Changes In Other Assets [Line Items] | ||||
Deferred purchase price recorded from sale of receivables | 1,606 | |||
Finance Receivables [Member] | ||||
Changes In Other Assets [Line Items] | ||||
Equipment installment sales - maximum installment period (in months) | 0 years 30 months 0 days | |||
Equipment installment receivable - ending balance | 4,265 | 921 | ||
Agreement Date - Sale of Equipment Installment Receivables | 27-Jun-14 | |||
Maximum amount expected to be funded at any given time (in millions) | 2,000 | 2,000 | ||
Receivables sold during period (in millions) | 4,707 | |||
Finance Receivables [Member] | Notes Receivable [Member] | ||||
Changes In Other Assets [Line Items] | ||||
Equipment installment receivable - ending balance | $2,514 | $606 |
Recovered_Sheet10
Sale Of Equipment Installment Receivables (Finance Receivables) (Details) (USD $) | 12 Months Ended |
In Millions, unless otherwise specified | Dec. 31, 2014 |
Changes In Other Assets [Line Items] | |
Net receivables sold | $4,126 |
Cash proceeds received | 2,528 |
Deferred purchase price recorded | $1,629 |
Tower_Transaction_Narrative_De
Tower Transaction (Narrative) (Details) (USD $) | 12 Months Ended | 0 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 16, 2013 |
Other Liabilities [Line Items] | ||||
Depreciation expense | $17,773 | $17,722 | $16,933 | |
Crown Castle International [Member] | ||||
Other Liabilities [Line Items] | ||||
Closing date of failed sale-leaseback transaction | 16-Dec-13 | |||
Number Of Towers Subject To Failed Sale-Leaseback | 9,048 | |||
Number of towers subject to disposition (as shown) | 627 | |||
Cash from failed sale-leaseback (in millions U.S. dollars) | 4,827 | |||
Term of lease | 28 years 0 months 0 days | |||
Approximate fixed future purchase option price on failed sale-leaseback (in millions U.S. dollars) | 4,200 | |||
Minimum Leaseback Term | 10 years 0 months 0 days | |||
Balance of tower assets (in millions U.S. dollars) | 999 | 1,039 | ||
Depreciation expense | 39 | |||
Approximate annual interest rate - financing obligation (as shown) | 3.90% | |||
Lease payments - 2014 | 221 | |||
Minimum lease payments - 2015 | 225 | |||
Minimum lease payments - 2016 | 229 | |||
Minimum lease payments - 2017 | 234 | |||
Minimum lease payments - 2018 | 239 | |||
Minimum lease payments - 2019 | 244 | |||
Minimum lease payments - thereafter | $2,553 |
Contingent_Liabilities_Details
Contingent Liabilities (Details) (USD $) | 12 Months Ended |
In Millions, unless otherwise specified | Dec. 31, 2014 |
Contingent Liabilities | |
Contractual purchase obligations for 2015 | $19,129 |
Contractual purchase obligations for 2016 and 2017 | 21,386 |
Contractual purchase obligations for 2018 and 2019 | 2,518 |
Contractual purchase obligations for years 2020 and thereafter | $691 |
Quarterly_Financial_Informatio2
Quarterly Financial Information (Unaudited) (Quarterly Financial Results) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Millions, except Per Share data, unless otherwise specified | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Quarterly Financial Information (Unaudited) | |||||||||||
Total Operating Revenues | $34,439 | $32,957 | $32,575 | $32,476 | $33,163 | $32,158 | $32,075 | $31,356 | $132,447 | $128,752 | $127,434 |
Operating Income (Loss) | -5,550 | 5,402 | 5,616 | 6,278 | 12,238 | 6,188 | 6,113 | 5,940 | 11,746 | 30,479 | 12,997 |
Net Income (Loss) | -3,896 | 3,059 | 3,621 | 3,734 | 6,995 | 3,905 | 3,880 | 3,773 | 6,518 | 18,553 | 7,539 |
Income from Continuing Operations Attributable to AT&T | 6,224 | 18,249 | 7,264 | ||||||||
Net Income attributable to AT&T | ($3,977) | $3,002 | $3,547 | $3,652 | $6,913 | $3,814 | $3,822 | $3,700 | $6,224 | $18,249 | $7,264 |
Basic Earnings Per Share Attributable to AT&T | ($0.77) | $0.58 | $0.68 | $0.70 | $1.31 | $0.72 | $0.71 | $0.67 | $1.19 | $3.39 | $1.25 |
Diluted Earnings Per Share Attributable to AT&T | ($0.77) | $0.58 | $0.68 | $0.70 | $1.31 | $0.72 | $0.71 | $0.67 | $1.19 | $3.39 | $1.25 |
Close | $33.59 | $35.24 | $35.36 | $35.07 | $35.16 | $33.82 | $35.40 | $36.69 | $33.59 | $35.16 | |
High | |||||||||||
Sale of Stock Price Per Share [Line Items] | |||||||||||
Stock Price Per Share | $36.16 | $37.48 | $36.86 | $35.50 | $36.80 | $36.31 | $39 | $36.87 | $36.16 | $36.80 | |
Low | |||||||||||
Sale of Stock Price Per Share [Line Items] | |||||||||||
Stock Price Per Share | $32.07 | $34.17 | $34.32 | $31.74 | $33.09 | $33.19 | $34.10 | $32.76 | $32.07 | $33.09 |
Valuation_And_Qualifying_Accou2
Valuation And Qualifying Accounts (Allowance For Doubtful Accounts) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Valuation And Qualifying Accounts | |||
Balance at Beginning of Period | $483 | $547 | $878 |
Charged to Costs and Expenses | 1,032 | 954 | 1,117 |
Charged to Other Accounts | -32 | -30 | 48 |
Acquisitions | 0 | 0 | 0 |
Deductions | 1,029 | 988 | 1,496 |
Balance at End of Period | $454 | $483 | $547 |