Document And Entity Information
Document And Entity Information - shares shares in Millions | 9 Months Ended | |
Sep. 30, 2015 | Oct. 31, 2015 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Fiscal Year Focus | 2,015 | |
Document Fiscal Period Focus | Q3 | |
Document Period End Date | Sep. 30, 2015 | |
Current Fiscal Year End Date | --12-31 | |
Entity Central Index Key | 732,717 | |
Entity Filer Category | Large Accelerated Filer | |
Entity Registrant Name | AT&T Inc. | |
Entity Common Stock, Shares Outstanding | 6,152 | |
Entity Trading Symbol | T |
Consolidated Statements Of Inco
Consolidated Statements Of Income - USD ($) shares in Millions, $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Operating Revenues | ||||
Service | $ 35,625 | $ 29,790 | $ 94,128 | $ 89,122 |
Equipment | 3,466 | 3,167 | 10,554 | 8,886 |
Total operating revenues | 39,091 | 32,957 | 104,682 | 98,008 |
Operating Expenses | ||||
Equipment | 4,501 | 4,432 | 13,400 | 12,503 |
Broadcast, programming and operations | 4,081 | 1,038 | 6,351 | 3,019 |
Other cost of services (exclusive of depreciation and amortization shown separately below) | 9,214 | 8,866 | 27,604 | 26,167 |
Selling, general and administrative | 9,107 | 8,475 | 24,535 | 24,932 |
Depreciation and amortization | 6,265 | 4,539 | 15,539 | 13,706 |
Total operating expenses | 33,168 | 27,350 | 87,429 | 80,327 |
Operating Income | 5,923 | 5,607 | 17,253 | 17,681 |
Other Income (Expense) | ||||
Interest expense | (1,146) | (1,016) | (2,977) | (2,757) |
Equity in net income (loss) of affiliates | 15 | (2) | 48 | 188 |
Other income (expense) - net | (57) | 42 | 61 | 1,456 |
Total other income (expense) | (1,188) | (976) | (2,868) | (1,113) |
Income Before Income Taxes | 4,735 | 4,631 | 14,385 | 16,568 |
Income tax expense | 1,657 | 1,444 | 4,784 | 5,914 |
Net Income | 3,078 | 3,187 | 9,601 | 10,654 |
Less: Net Income Attributable to Noncontrolling Interest | (84) | (57) | (262) | (213) |
Net Income Attributable to AT&T | $ 2,994 | $ 3,130 | $ 9,339 | $ 10,441 |
Basic Earnings Per Share Attributable to AT&T | $ 0.50 | $ 0.60 | $ 1.71 | $ 2 |
Diluted Earnings Per Share Attributable to AT&T | $ 0.50 | $ 0.60 | $ 1.71 | $ 2 |
Weighted Average Number of Common Shares Outstanding - Basic (in millions) | 5,924 | 5,198 | 5,447 | 5,208 |
Weighted Average Number of Common Shares Outstanding - with Dilution (in millions) | 5,943 | 5,214 | 5,463 | 5,224 |
Dividends Declared Per Common Share | $ 0.47 | $ 0.46 | $ 1.41 | $ 1.38 |
Consolidated Statements Of Comp
Consolidated Statements Of Comprehensive Income - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Consolidated Statements of Comprehensive Income [Abstract] | ||||
Net income | $ 3,078 | $ 3,187 | $ 9,601 | $ 10,654 |
Foreign currency: | ||||
Translation adjustment (includes $(20), $(1), $(20) and $0 attributable to noncontrolling interest), net of taxes of $(535), $(22), $(638) and $(17) | (1,039) | (35) | (1,224) | (29) |
Reclassification adjustment included in net income, net of taxes of $0, $0, $0 and $224 | 0 | 0 | 0 | 416 |
Available-for-sale securities: | ||||
Net unrealized gains (losses), net of taxes of $(49), $(15), $(30) and $19 | (85) | (29) | (51) | 30 |
Reclassification adjustment included in net income, net of taxes of $2, $(1), $(3) and $(9) | 3 | (1) | (6) | (15) |
Cash flow hedges: | ||||
Net unrealized gains (losses), net of taxes of $(237), $201, $(479) and $148 | (441) | 370 | (890) | 272 |
Reclassification adjustment included in net income, net of taxes of $6, $3, $15 and $14 | 11 | 8 | 28 | 29 |
Defined benefit postretirement plans: | ||||
Amortization of net prior service credit included in net income, net of taxes of $(131), $(146), $(393) and $(435) | (215) | (239) | (644) | (718) |
Reclassification adjustment included in net income, net of taxes $0, $0, $0 and $33 | 0 | 0 | 0 | 61 |
Other comprehensive income (loss) | (1,766) | 74 | (2,787) | 46 |
Total comprehensive income | 1,312 | 3,261 | 6,814 | 10,700 |
Less: Total comprehensive income attributable to noncontrolling interest | (64) | (56) | (242) | (213) |
Total Comprehensive Income Attributable to AT&T | $ 1,248 | $ 3,205 | $ 6,572 | $ 10,487 |
Consolidated Statements of Com4
Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Consolidated Statements of Comprehensive Income [Abstract] | ||||
Foreign currency translation adjustments, attributable to noncontrolling interest, net of taxes | $ (20) | $ (1) | $ (20) | $ 0 |
Foreign currency translation adjustments, tax effect | (535) | (22) | (638) | (17) |
Foreign currency translation adjustment reclassification - tax effect | 0 | 0 | 0 | 224 |
Unrealized gains (losses) on available-for-sale securities - tax | (49) | (15) | (30) | 19 |
Reclassification adjustment included in net income on available-for-sale securities - tax effect | 2 | (1) | (3) | (9) |
Unrealized gains (losses) on cash flow hedges - tax | (237) | 201 | (479) | 148 |
Reclassification adjustment included in net income on cash flow hedges - tax effect | 6 | 3 | 15 | 14 |
Amortization of net prior service credit included in net income, tax effect | (131) | (146) | (393) | (435) |
Reclassification adjustment in net income on defined benefit postretirement plans - tax effect | $ 0 | $ 0 | $ 0 | $ 33 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Millions | Sep. 30, 2015 | Dec. 31, 2014 |
Current Assets | ||
Cash and cash equivalents | $ 6,202 | $ 8,603 |
Accounts receivable - net of allowances for doubtful accounts of $656 and $454 | 16,329 | 14,527 |
Prepaid expenses | 1,166 | 831 |
Other current assets | 11,254 | 9,802 |
Total current assets | 34,951 | 33,763 |
Property, plant and equipment | 302,194 | 282,295 |
Less: accumulated depreciation and amortization | (179,358) | (169,397) |
Property, Plant and Equipment - Net | 122,836 | 112,898 |
Goodwill | 105,966 | 69,692 |
Licenses | 93,063 | 60,824 |
Customer Lists and Relationships - Net | 19,608 | 812 |
Other Intangible Assets - Net | 8,236 | 5,327 |
Investments in Equity Affiliates | 1,744 | 250 |
Other Assets | 13,585 | 13,659 |
Total Assets | 399,989 | 297,225 |
Current Liabilities | ||
Debt maturing within one year | 7,535 | 6,056 |
Accounts payable and accrued liabilities | 28,280 | 23,592 |
Advanced billing and customer deposits | 4,640 | 4,105 |
Accrued taxes | 4,591 | 1,136 |
Dividends payable | 2,892 | 2,438 |
Total current liabilities | 47,938 | 37,327 |
Long-Term Debt | 119,395 | 76,011 |
Deferred Credits and Other Noncurrent Liabilities | ||
Deferred income taxes | 53,044 | 38,549 |
Postemployment benefit obligation | 36,396 | 37,079 |
Other noncurrent liabilities | 20,427 | 17,989 |
Total deferred credits and other noncurrent liabilities | 109,867 | 93,617 |
Stockholders' Equity | ||
Common stock ($1 par value, 14,000,000,000 authorized at September 30, 2015 and December 31, 2014: issued 6,495,231,088 at September 30, 2015 and December 31, 2014) | 6,495 | 6,495 |
Additional paid-in capital | 89,717 | 91,108 |
Retained earnings | 32,627 | 31,081 |
Treasury stock (342,990,428 at September 30, 2015 and 1,308,318,131 at December 31, 2014, at cost) | (12,309) | (47,029) |
Accumulated other comprehensive income | 5,294 | 8,061 |
Noncontrolling interest | 965 | 554 |
Total stockholders' equity | 122,789 | 90,270 |
Total Liabilities and Stockholders' Equity | $ 399,989 | $ 297,225 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions | Sep. 30, 2015 | Dec. 31, 2014 |
Consolidated Balance Sheets (Unaudited) | ||
Allowances for doubtful accounts | $ 656 | $ 454 |
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 | 342,990,428 | 1,308,318,131 |
Consolidated Statements Of Cash
Consolidated Statements Of Cash Flows - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2015 | Sep. 30, 2014 | |
Operating Activities | ||
Net income | $ 9,601 | $ 10,654 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation and amortization | 15,539 | 13,706 |
Undistributed earnings from investments in equity affiliates | (36) | (45) |
Provision for uncollectible accounts | 895 | 692 |
Deferred income tax expense | 1,539 | 1,450 |
Net gain from sale of investments, net of impairments | (46) | (1,374) |
Changes in operating assets and liabilities: | ||
Accounts receivable | 453 | (1,269) |
Other current assets | 350 | (840) |
Accounts payable and accrued liabilities | 1,279 | 4,790 |
Retirement benefit funding | (595) | (420) |
Other - net | (2,284) | (1,751) |
Total adjustments | 17,094 | 14,939 |
Net Cash Provided by Operating Activities | 26,695 | 25,593 |
Investing Activities | ||
Capital expenditures | (13,356) | (16,829) |
Interest during construction | (566) | (178) |
Acquisitions, net of cash acquired | (30,694) | (2,053) |
Dispositions | 79 | 6,074 |
Sales (purchases) of securities, net | 1,490 | (1,996) |
Return of advances to and investments in equity affiliates | 0 | 3 |
Other | 0 | (1) |
Net Cash Used in Investing Activities | (43,047) | (14,980) |
Financing Activities | ||
Net change in short-term borrowings with original maturities of three months or less | (1) | (16) |
Issuance of long-term debt | 33,967 | 8,564 |
Repayment of long-term debt | (9,962) | (10,376) |
Purchase of treasury stock | 0 | (1,617) |
Issuance of treasury stock (excluding acquisition of DIRECTV) | 133 | 34 |
Dividends paid | (7,311) | (7,170) |
Other | (2,875) | (913) |
Net Cash Provided by (Used in) Financing Activities | 13,951 | (11,494) |
Net decrease in cash and cash equivalents | (2,401) | (881) |
Cash and cash equivalents beginning of year | 8,603 | 3,339 |
Cash and Cash Equivalents End of Period | 6,202 | 2,458 |
Cash paid during the nine months ended September 30 for: | ||
Interest | 3,462 | 3,351 |
Income taxes, net of refunds | $ 873 | $ 1,337 |
Consolidated Statement Of Chang
Consolidated Statement Of Changes In Stockholders' Equity - 9 months ended Sep. 30, 2015 - USD ($) shares in Millions, $ in Millions | 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] |
Balance at beginning of year at Dec. 31, 2014 | $ 90,270 | $ 6,495 | $ 91,108 | $ 31,081 | $ (47,029) | $ 8,061 | $ 554 |
Balance at beginning of year (in shares) at Dec. 31, 2014 | 6,495 | (1,308) | |||||
Issuance of stock | $ 0 | ||||||
Issuance of stock (in shares) | 0 | ||||||
Repurchase of common stock | $ (10) | ||||||
Repurchase of common stock (in shares) | (1) | ||||||
Issuance of treasury stock | (1,593) | $ 34,730 | |||||
Issuance of treasury stock, (in shares) | 967 | ||||||
Share-based payments | 202 | ||||||
Net income attributable to AT&T ($1.71 per diluted share) | 9,339 | 9,339 | |||||
Dividends to stockholders ($1.41 per share) | (7,793) | ||||||
Other comprehensive income attributable to AT&T | (2,767) | (2,767) | |||||
Net income attributable to noncontrolling interest | 262 | 262 | |||||
Distributions | (214) | ||||||
Acquisitions of noncontrolling interests | 383 | ||||||
Translation adjustments attributable to noncontrolling interest, net of taxes | (20) | (20) | |||||
Balance at end of period at Sep. 30, 2015 | $ 122,789 | $ 6,495 | $ 89,717 | $ 32,627 | $ (12,309) | $ 5,294 | $ 965 |
Balance at end of period (in shares) at Sep. 30, 2015 | 6,495 | (342) |
Consolidated Statement Of Chan9
Consolidated Statement Of Changes In Stockholders' Equity (Parenthetical) - $ / shares | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Consolidated Statements Of Changes In Stockholders' Equity (Unaudited) | ||||
Net income attributable to AT&T, per diluted share | $ 0.50 | $ 0.60 | $ 1.71 | $ 2 |
Dividends to stockholders, per share | $ 0.47 | $ 0.46 | $ 1.41 | $ 1.38 |
Preparation Of Interim Financia
Preparation Of Interim Financial Statements | 9 Months Ended |
Sep. 30, 2015 | |
Preparation Of Interim Financial Statements Disclosure [Abstract] | |
Preparation Of Interim Financial Statements | NOTE 1 . PREPARATION OF INTERIM FINANCIAL STATEMENTS Basis of Presentation Throughout this document, AT&T Inc. is referred to as “AT&T,” “we” or the “Company.” T hese consolidated financial statements include all adjustments that are necessary to present fairly the results for the presented interim periods , consisting of normal recurring accruals and other items . The results for the interim periods are not necessarily indicative of those for the full year. You should read this document in conjunction with the consolidated financial statements and accompanying notes included in our Annual Report on Form 10-K for the year ended December 31, 2014. The consolidated financial statements include the accounts of the Company and our majority-owned subsidiaries and affiliates , including the results of DIRECTV for the 68-day period ended September 30, 2015 . Our subsidiaries and affiliates operate in the communications and digital entertainment services industry , providing services and equ ipment that deliver voice, video and broadband services domestically and internationally . 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 period end. 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 and cumulative translation adjustments . 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 , including our presentation of “Equipment” and “Broadcast, programming and operations” expenses separately f rom other cost of services in the consolidated statements of income. Due to recent organizational changes and our July 24, 2015 acquisition of DIRECTV, effective for the quarter ended September 30, 2015, we are revising our operating segments to align with the new management structure and or ganizational responsibilities. We have revised our prior-period presentation to conform to our current reporting . (S ee Note 4) Customer Fulfillment Costs In August 2015, with our acquisition of DIRECTV, we announced a change in accounting for customer set-up and installation costs. Historically we have followed an accounting polic y of deferring customer set-up and installation costs only to the extent of deferred revenues recorded for upfront fees (e.g., activation charges), and to expense any costs that exce ed deferred revenues. After discussing this change with the Securities and Exchange Commission, we changed our accounting to a preferable method of capitalizing these costs and amortizing them over the expected economic life of the customer relationship of approximately four years, subject to an assessment of the recoverability of such costs. This change in accounting principle impacts video, broadband Internet and wireline voice services and is considered prefe rable in that it provides an accurate reflection of assets (i.e., the contractual customer relationship obtained through the set-up and installation) generated by those specific business activities. Our new accounting method is more comparable with the accounting method used in the cable entertainment industry. With our acquisition of DIRECTV, changing to this accounting method will enhance comparability to other companies in the industry . This change in accounting does not have an impact on our wireless results , due to the absence of these types of expenses in those business activities . The cumulative effect of the change on Retained Earnings as of January 1, 2014, was an increase of approximately $ 3,128 on our consolidated balance sheets. This change did not have an impact on cash provided by or used in operations for any period presented. The following tables present our results under our historical method and as adjusted to reflect the accounting change: Historical Accounting Method As Adjusted Effect of Change For the three months ended September 30, 2015 Other cost of services $ 9,290 $ 9,214 $ (76) Income tax expense 1,628 1,657 29 Net Income 3,031 3,078 47 Net Income Attributable to AT&T 2,947 2,994 47 Basic Earnings per Share Attributable to AT&T $ 0.50 $ 0.50 $ - Diluted Earnings per Share Attributable to AT&T 0.50 0.50 - At September 30, 2015 or for the nine months ended Other cost of services $ 27,842 $ 27,604 $ (238) Income tax expense 4,694 4,784 90 Net Income 9,453 9,601 148 Net Income Attributable to AT&T 9,191 9,339 148 Basic Earnings per Share Attributable to AT&T $ 1.68 $ 1.71 $ 0.03 Diluted Earnings per Share Attributable to AT&T 1.68 1.71 0.03 Other current assets $ 9,579 $ 11,254 $ 1,675 Other Assets 10,671 13,585 2,914 Deferred income taxes 51,949 53,044 1,095 Retained earnings 29,133 32,627 3,494 Historical Accounting Method As Adjusted Effect of Change For the three months ended September 30, 2014 Other cost of services $ 9,071 $ 8,866 $ (205) Income tax expense 1,367 1,444 77 Net Income 3,059 3,187 128 Net Income Attributable to AT&T 3,002 3,130 128 Basic Earnings per Share Attributable to AT&T $ 0.58 $ 0.60 $ 0.02 Diluted Earnings per Share Attributable to AT&T 0.58 0.60 0.02 For the nine months ended September 30, 2014 Other cost of services $ 26,552 $ 26,167 $ (385) Income tax expense 5,769 5,914 145 Net Income 10,414 10,654 240 Net Income Attributable to AT&T 10,201 10,441 240 Basic Earnings per Share Attributable to AT&T $ 1.96 $ 2.00 $ 0.04 Diluted Earnings per Share Attributable to AT&T 1.95 2.00 0.05 Historical Accounting Method As Adjusted Effect of Change At December 31, 2014 Other current assets $ 8,067 $ 9,802 $ 1,735 Other Assets 10,998 13,659 2,661 Accrued taxes 1,091 1,136 45 Deferred income taxes 37,544 38,549 1,005 Retained earnings 27,736 31,081 3,345 New Accounting Standards Revenue Recognition 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. ASU 2014-09 becomes effective for annual reporting periods b eginning after December 15, 2017, following the July 2015 approval of a one-year deferral of the effective date by the FASB . W hile w e continue to evaluate the impact of the new standard on revenue and costs of acquisition as well as available adoption methods , the requirement to defer costs is not expected to have a significant impact on our operating results as a result of our policy change on fulfillment costs . Long-Term Debt and Debt Issuance Costs In April 2015, the FASB issued ASU No. 2015-03, “Interest—Imputation of Interest: Simplifying the Presentation of Debt Issuance Costs” (ASU 2015-03), which will result in the reclassification of debt issuance costs from “Other Assets” to inclusion as a red uction of our reportable “Long-T erm Debt” balance on o ur consolidated balance sheets. Since ASU 2015-03 does not address deferred issuance costs for line-of-credit arrangements, the FASB issued ASU No. 2015-15, “ Interest—Imputation of Interest : Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arr angem ents” (ASU 2015-15), in August 2015. ASU 2015-15 allow s a company to defer debt issuance costs associated with line-of-credit arrangements , including arrangements with no outstanding borrowings , classify them as an asset, and amortize them over the term of the arrangements . ASU 2015-03 become s effective January 1, 2016, subject to early adoption, and will require full retrospective ap plication. We do not expect these new standard s to have a material impact on our consolidated balance sheets. Business Combinations In September 2015, the FASB issued ASU No 2015-16, “Business Combinations—Simplifying the Accounting for Measurement-Period Adjustments” (ASU 2015-16), which will result in the ability to recognize , in current-period earnings, any changes in provisional amounts during the measurement period after the closing of an acquisition , instead of retroactively account ing for these changes . ASU 2015-16 becomes effective January 1, 2016, subject to early adoption, and will require prospective application to adjustments to provisional amounts that occur after the effective date of ASU 2015-16. We are evaluating the impact of the new standard on our operating results . |
Earnings Per Share
Earnings Per Share | 9 Months Ended |
Sep. 30, 2015 | |
Earnings Per Share | |
Earnings Per Share | NOTE 2. EARNINGS PER SHARE A reconciliation of the numerators and denominators of basic and diluted earnings per share for the three and nine months ended September 30, 2015 and 2014 , is shown in the table below: Three months ended Nine months ended September 30, September 30, 2015 2014 2015 2014 Numerators Numerator for basic earnings per share: Net Income $ 3,078 $ 3,187 $ 9,601 $ 10,654 Less: Net income attributable to noncontrolling interest (84) (57) (262) (213) Net Income attributable to AT&T 2,994 3,130 9,339 10,441 Dilutive potential common shares: Share-based payment 3 2 9 9 Numerator for diluted earnings per share $ 2,997 $ 3,132 $ 9,348 $ 10,450 Denominators (000,000) Denominator for basic earnings per share: Weighted average number of common shares outstanding 5,924 5,198 5,447 5,208 Dilutive potential common shares: Share-based payment (in shares) 19 16 16 16 Denominator for diluted earnings per share 5,943 5,214 5,463 5,224 Basic earnings per share attributable to AT&T $ 0.50 $ 0.60 $ 1.71 $ 2.00 Diluted earnings per share attributable to AT&T $ 0.50 $ 0.60 $ 1.71 $ 2.00 |
Accumulated Other Comprehensive
Accumulated Other Comprehensive Income | 9 Months Ended |
Sep. 30, 2015 | |
Accumulated Other Comprehensive Income | |
Accumulated Other Comprehensive Income | NOTE 3. OTHER COMPREHENSIVE INCOME Changes in the balances of each component included in accumulated other comprehensive income (accumulated OCI) are presented below. All amounts are net of tax and exclude noncontrolling interest. At September 30, 2015 and for the period ended: Foreign Currency Translation Adjustment Net Unrealized Gains (Losses) on Available-for-Sale Securities Net Unrealized Gains (Losses) on Cash Flow Hedges Defined Benefit Postretirement Plans Accumulated Other Comprehensive Income Balance as of December 31, 2014 $ (26) $ 499 $ 741 $ 6,847 $ 8,061 Other comprehensive income (loss) before reclassifications (1,204) (51) (890) - (2,145) Amounts reclassified from accumulated OCI - 1 (6) 2 28 3 (644) 4 (622) Net other comprehensive income (loss) (1,204) (57) (862) (644) (2,767) Balance as of September 30, 2015 $ (1,230) $ 442 $ (121) $ 6,203 $ 5,294 At September 30, 2014 and for the period ended: Foreign Currency Translation Adjustment Net Unrealized Gains (Losses) on Available-for-Sale Securities Net Unrealized Gains (Losses) on Cash Flow Hedges Defined Benefit Postretirement Plans Accumulated Other Comprehensive Income Balance as of December 31, 2013 $ (367) $ 450 $ 445 $ 7,352 $ 7,880 Other comprehensive income (loss) before reclassifications (29) 30 272 - 273 Amounts reclassified from accumulated OCI 416 1 (15) 2 29 3 (657) 4 (227) Net other comprehensive income (loss) 387 15 301 (657) 46 Balance as of September 30, 2014 $ 20 $ 465 $ 746 $ 6,695 $ 7,926 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 6 for additional information. 4 The amortization of prior service credits associated with postretirement benefits, net of amounts capitalized as part of construction labor, are included in Other cost of services and Selling, general and administrative in the consolidated statements of income (see Note 5). Actuarial loss reclassifications related to our equity method investees are included in Other income (expense) - net in the consolidated statements of income. |
Segment Information
Segment Information | 9 Months Ended |
Sep. 30, 2015 | |
Segment Information | |
Segment Information | NOTE 4. SEGMENT INFORMATION Our segments are strategic business units that offer products and services to different customer segments over various technology platforms and/or in different geographies that are managed accordingly. Due to recent organizational changes and our July 24, 2015 acquisition of DIRECTV, effective for the quarter ended September 30, 2015, we are revising our oper ating segments to align with our new management structure and organizational responsibilities. We analyze our operating segments based on segment contribution, which consists of operating income, excluding acquisition - related costs and other significant items (as discussed below) , and equity in net income of affiliates for investments managed within each operating segment. We have four reportable segments: (1) Business Solutions, (2) Entertainment and Internet Services, (3) Consumer Mobility and (4) International. We have revised our prior-period presentation to conform to our current reporting. We also evaluate segment performance based on segment operating income before depreciation and amortization, which we refer to as EBITDA and/or EBITDA margin. For AT&T, EBITDA is defined as operating income before depreciation and amortization. We believe EBITDA to be a relevant and useful measurement to our investors as it is part of our internal management reporting and planning processes and it is an important metric that management uses to evaluate segment operating performance. EBITDA does not give effect to cash used for debt service requirements and thus does not reflect available funds for distributions, reinvestment or other discretionary uses. The Business Solutions segment provides both wireless and wireline services to business customers and individual subscribers who purchase wireless services through employer-sponsored plans. We provide advanced IP-based services including Virtual Private Networks (VPN), Ethernet-related products and broadband (strategic business services) as well as tradi tional data and voice products. Services in this segment utilize our wireless and wired network and are marketed to provide a complete communications solution to our business customers. The Entertainment and Internet Services segment provides video , Internet and voice communication services to residential customers located in the U.S. or in U.S. territories . Services utilize our copper and IP-based wired network and/or our satellite technology to provide video , high speed Internet and voice services. The Consumer Mobility segment provides nationwide wireless service to consumer s , wholesale and resale subscribers located in the U.S. or in U.S. territories. Services utilize our U.S. wireless network to provide voice and data services, including high - speed Internet, video entertainment and home monitoring services. The International segment provides entertainment services in Latin America and wireless services in Mexico. Video entertainment services are provided primarily to residential customers using satellite technology. Wireless services utilize our regional and national networks in Mexico to provide consumer and business customers with wireless data and voice communication services. Our international subsidiaries transact i n their local currency and operating results are converted to U.S. dollars using official exchange rates. The exchange rate used to report net monetary assets and operating results of our Venezuelan subsidiary is the Sistema Marginal de Divisas (SIMADI), which was 199.65 and 199.42 Venezuelan bolivars per U.S. dollar at July 24, 2015 and September 30, 2015, respectively. Our International segment is subject to foreign currency fluctuations. In reconciling items to consolidated operating income, Corporate and Other include s : (1) operations that are not considered reportable segments and that are no longer integral to our operations or which we no longer actively market, and (2) 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. Certain operating items are not allocated to our business segments: Acquisition-related items include (1) operations and support items associated with the merger and integration of newly acquired businesses, and (2) the noncash amortization of intangible assets acquired in acquisitions. Certain significant items include (1) noncash actuarial gains and losses from pension and other postretirement benefits, (2) employee separation charges associated with voluntary and/or strategic offers , (3) abandonment or impairments of assets and (4) other items for which the segments are not being evaluated. I nterest 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 also not included in each segment's reportable results. Our operating assets are shared by multiple segments and consist of our wireless and wired networks as well as a n international satellite fleet . We manage our assets on a total company basis, not by operating segment, and therefore asset information and capital expenditures by operating segment are not presented. Depreciation is allocated based on network usage or asset utilization by segment. For the three months ended September 30, 2015 Revenue Operations and Support Expenses EBITDA Depreciation and Amortization Operating Income (Loss) Equity in Net Income (Loss) of Affiliates Segment Contribution Business Solutions $ 17,692 $ 10,921 $ 6,771 $ 2,474 $ 4,297 $ - $ 4,297 Entertainment and Internet Services 10,858 8,450 2,408 1,389 1,019 2 1,021 Consumer Mobility 8,784 5,065 3,719 976 2,743 - 2,743 International 1,526 1,384 142 225 (83) (4) (87) Segment Total 38,860 25,820 13,040 5,064 7,976 (2) 7,974 Corporate and Other 316 315 1 3 (2) Acquisition-related items (85) 611 (696) 1,198 (1,894) Certain significant items - 157 (157) - (157) AT&T Inc. $ 39,091 $ 26,903 $ 12,188 $ 6,265 $ 5,923 For the nine months ended September 30, 2015 Revenue Operations and Support Expenses EBITDA Depreciation and Amortization Operating Income (Loss) Equity in Net Income (Loss) of Affiliates Segment Contribution Business Solutions $ 52,913 $ 32,966 $ 19,947 $ 7,276 $ 12,671 $ - $ 12,671 Entertainment and Internet Services 22,300 18,222 4,078 3,519 559 (16) 543 Consumer Mobility 26,317 15,808 10,509 2,912 7,597 - 7,597 International 2,253 2,131 122 346 (224) (4) (228) Segment Total 103,783 69,127 34,656 14,053 20,603 (20) 20,583 Corporate and Other 984 785 199 47 152 Acquisition-related items (85) 1,604 (1,689) 1,439 (3,128) Certain significant items - 374 (374) - (374) AT&T Inc. $ 104,682 $ 71,890 $ 32,792 $ 15,539 $ 17,253 For the three months ended September 30, 2014 Revenue Operations and Support Expenses EBITDA Depreciation and Amortization Operating Income (Loss) Equity in Net Income (Loss) of Affiliates Segment Contribution Business Solutions $ 17,487 $ 11,295 $ 6,192 $ 2,331 $ 3,861 $ - $ 3,861 Entertainment and Internet Services 5,553 4,781 772 1,109 (337) - (337) Consumer Mobility 9,208 5,731 3,477 950 2,527 (1) 2,526 International - - - - - - - Segment Total 32,248 21,807 10,441 4,390 6,051 (1) 6,050 Corporate and Other 709 791 (82) 24 (106) Acquisition-related items - 213 (213) 125 (338) Certain significant items - - - - - AT&T Inc. $ 32,957 $ 22,811 $ 10,146 $ 4,539 $ 5,607 For the nine months ended September 30, 2014 Revenue Operations and Support Expenses EBITDA Depreciation and Amortization Operating Income (Loss) Equity in Net Income (Loss) of Affiliates Segment Contribution Business Solutions $ 51,877 $ 32,836 $ 19,041 $ 7,009 $ 12,032 $ - $ 12,032 Entertainment and Internet Services 16,640 14,182 2,458 3,396 (938) - (938) Consumer Mobility 27,247 17,173 10,074 2,846 7,228 (1) 7,227 International - - - - - 153 153 Segment Total 95,764 64,191 31,573 13,251 18,322 152 18,474 Corporate and Other 2,244 2,027 217 77 140 - Acquisition-related items - 403 (403) 378 (781) - Certain significant items - - - - - - AT&T Inc. $ 98,008 $ 66,621 $ 31,387 $ 13,706 $ 17,681 - The following table is a reconciliation of operating income (loss) to “Income Before Income Taxes” reported on our consolidated statements of income. Third Quarter Nine-Month Period 2015 2014 2015 2014 Business Solutions $ 4,297 $ 3,861 $ 12,671 $ 12,032 Entertainment and Internet Services 1,021 (337) 543 (938) Consumer Mobility 2,743 2,526 7,597 7,227 International (87) - (228) 153 Segment Contribution 7,974 6,050 20,583 18,474 Reconciling Items: Corporate and Other (2) (106) 152 140 Merger and integration charges (696) (213) (1,689) (403) Amortization of intangibles acquired (1,198) (125) (1,439) (378) Employee separation charges (122) - (339) - Other (expenses) credits (35) - (35) - Less: segment equity in net (income) loss of affiliates 2 1 20 (152) AT&T Operating Income 5,923 5,607 17,253 17,681 Interest Expense 1,146 1,016 2,977 2,757 Equity in net income (loss) of affiliates 15 (2) 48 188 Other income (expense) - Net (57) 42 61 1,456 Income Before Income Taxes $ 4,735 $ 4,631 $ 14,385 $ 16,568 |
Pension And Postretirement Bene
Pension And Postretirement Benefits | 9 Months Ended |
Sep. 30, 2015 | |
Pension And Postretirement Benefits | |
Pension And Postretirement Benefits | NOTE 5 . PENSION AND POSTRETIREMENT BENEFITS Substantially all of our employees are covered by one of our noncontributory pension plans. We also provide certain medical, dental, life insurance, and death benefits to certain retired employees under various plans and accrue actuarially determined postretirement benefit costs. Our objective in funding these plans, in combination with the standards of the Employee Retirement Income Security Act of 1974, as amended (ERISA), is to accumulate assets sufficient to provide benefits described in the plans to employees upon their retirement. In December 2014, we offered an opportunity for certain management employees who were retirement eligible as of March 31, 2015 to elect an enhanced, full lump sum payment option of their accrued pension if they retired on or before March 31, 2015. The lump sum value totaled approximately $1,200 which was distributed in 2015. We recorded special termination benefits of approximately $150 as a result of this offer. In 2013, we made a voluntary contribution of a preferred equity interest in AT&T Mobility II LLC, the primary holding company for our domestic wireless business, to the trust used to pay pension benefits under our qualified pension plans. The preferred equity interest had a value of $ 8,838 at September 30, 2015. The trust is entitled to receive cumulative cash distributions of $560 per annum, which are distributed quarterly in equal amounts and accounted for as contributions. We distributed $ 420 to the trust during the nine months ended September 30, 2015. So long as we make the distributions, we will have no limitations on our ability to declare a dividend or repurchase shares. This preferred equity interest is a plan asset under ERISA and is recognized as such in the plan's separate financial statements. However, because the preferred equity interest is not unconditionally transferable to an unrelated party, it is not reflected in plan assets in our consolidated financial statements and instead has been eliminated in consolidation. We also agreed to make a cash contribution to the trust of $175 no later than the due date of our federal income tax return for 2014. This contribution was made in June 2015. We acquired DIRECTV on July 24, 2015. DIRECTV sponsor s a noncontributory defined benefit pension plan, which provides benefits to most employees based on either years of service and final average salary, or eligible compensation while employed by DIRECTV. DIRECTV also maintain s (1) a postretirement benefit plan for those retirees eligible to participate in health care and life insurance benefits generally until they reach age 65 and (2) an unfunded nonqualified pension plan for certain eligible employees. We have recorded the fair value of the DIRECTV plans using assumptions and accounting policies consistent with those disclosed by AT&T. Upon acquisition, the excess of projected benefit obligation over the plan assets was recognized as a liability and previously existing deferred actuarial gains and losses and unrecognized service costs or benefits were eliminated. We recognize actuarial gains and losses on pension and postretirement plan assets in our operating results at our annual measurement date of December 31, unless earlier remeasurements are required. The following table details pension and postretirement benefit costs included in operating expenses in the accompanying consolidated statements of income ; expense credits are denoted with parentheses. A portion of these expenses is capitalized as part of internal construction projects, providing a small reduction in the net expense recorded. Three months ended Nine months ended September 30, September 30, 2015 2014 2015 2014 Pension cost: Service cost – benefits earned during the period $ 305 $ 282 $ 904 $ 846 Interest cost on projected benefit obligation 477 661 1,424 1,984 Expected return on assets (832) (849) (2,484) (2,549) Amortization of prior service credit (25) (24) (77) (71) Net pension (credit) cost $ (75) $ 70 $ (233) $ 210 Postretirement cost: Service cost – benefits earned during the period $ 55 $ 59 $ 166 $ 175 Interest cost on accumulated postretirement benefit obligation 242 365 725 1,094 Expected return on assets (105) (165) (315) (491) Amortization of prior service credit (320) (362) (959) (1,086) Net postretirement (credit) cost $ (128) $ (103) $ (383) $ (308) Combined net pension and postretirement (credit) cost $ (203) $ (33) $ (616) $ (98) Our combined net pension and postretirement cost decreased $ 170 in the third quarter and $ 518 for the first nine months of 2015 . Our combined net pension and postretirement cost decreased $223 in the third quarter and $669 for the first nine months due to the change in the method used to estimate the service and interest components of net periodic benefit cost for pension and other postretirement benefits. While this change, which was made in the fourth quarter of 2014, provides a more precise measurement of interim service and interest costs, it will not affect the measurement of our total benefit obligations as of December 31 or our annual net periodic benefit cost as the change in the service and interest costs is completely offset in the actuarial gain or loss reported. The decrease in cost resulting from this change was partially offset by lower amortization of prior service credits as previous postretirement plan changes have become fully amortized, our lower expected long-term rate of return on our postretirement plan assets and updated assumed mortality rates. We also provide senior- and middle-management employees with nonqualified, unfunded supplemental retirement and savings plans. Net supplemental retirement pension benefits cost, which is not included in the table above, was $ 22 in the third quarter of 2015 , of which $ 20 was interest cost, and $ 63 for the first nine months , of which $ 57 was interest cost. In 2014 , net supplemental retirement pension benefits cost was $ 29 in the third quarter, of which $ 27 was interest cost, and $ 87 for the first nine months , of which $ 82 was interest cost. |
Fair Value Measurements And Dis
Fair Value Measurements And Disclosure | 9 Months Ended |
Sep. 30, 2015 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements And Disclosure | NOTE 6 . FAIR VALUE MEASUREMENTS AND DISCLOSURE The Fair Value Measurement and Disclosure framework provides a three-tiered fair value hierarchy that gives highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy are described below: Level 1 Inputs to the valuation methodology are unadjusted quoted prices for identical assets or liabilities in active markets that we have the ability to access. Level 2 Inputs to the valuation methodology include: Quoted prices for similar assets and liabilities in active markets. Quoted prices for identical or similar assets or liabilities in inactive markets. Inputs other than quoted market prices that are observable for the asset or liability. Inputs that are derived principally from or corroborated by observable market data by correlation or other means. Level 3 Inputs to the valuation methodology are unobservable and significant to the fair value measurement. Fair value is often based on developed models in which there are few, if any, external observations. The fair value measurement s 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, 2014 . 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: September 30, 2015 December 31, 2014 Carrying Fair Carrying Fair Amount Value Amount Value Notes and debentures $ 126,042 $ 129,524 $ 81,632 $ 90,367 Bank borrowings 4 4 5 5 Investment securities 2,644 2,644 2,735 2,735 The carrying value of debt with an original maturity of less than one year approximates market value. The fair value measurements used for notes and debentures are considered Level 2 and are determined using various methods, including quoted prices for identical or similar securities in both active and inactive markets. Following is the fair value leveling for available-for-sale securities and derivatives as of September 30, 2015 and December 31, 2014 : September 30, 2015 Level 1 Level 2 Level 3 Total Available-for-Sale Securities Domestic equities $ 1,094 $ - $ - $ 1,094 International equities 561 - - 561 Fixed income bonds - 737 - 737 Asset Derivatives 1 Interest rate swaps - 217 - 217 Cross-currency swaps - 796 - 796 Liability Derivatives 1 Cross-currency swaps - (3,202) - (3,202) Foreign exchange contracts - (1) - (1) December 31, 2014 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 Derivatives 1 Interest rate swaps - 157 - 157 Cross-currency swaps - 1,243 - 1,243 Interest rate locks - 5 - 5 Liability Derivatives 1 Cross-currency swaps - (1,506) - (1,506) Interest rate locks - (133) - (133) 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 $ 93 have maturities of less than one year, $ 379 within one to three years, $ 52 within three to five years, and $ 213 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. Short-term investment s are recorded in “Other current a ssets” 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 nine months ended September 30, 2015 and September 30, 2014 , 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, usually 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 nine months ended September 30, 2015 and September 30, 2014 , no ineffectiveness was measured on cross-currency swaps designated as cash flow hedges. Periodically, we enter into and designate interest rate locks to partially hedge the risk of changes in interest payments attributable to increases in the benchmark interest rate during the period leading up to the probable issuance of fixed-rate debt. We designate our interest rate locks as cash flow hedges. Gains and losses when we settle our interest rate locks are amortized into income over the life of the related debt, except where a material amount is deemed to be ineffective, which would be immediately reclassified to “Other income (expense) – net” in the consolidated statements of income. Over the next 12 months, we expect to reclassify $ 59 from accumulated OCI to interest expense due to the amortization of net losses on historical interest rate locks. We hedge a portion of the exchange risk involved in anticipation of highly probable foreign currency-denominated transactions. In anticipation of these transactions, we often enter into foreign exchange contracts to provide currency at a fixed rate. Some of these instruments are designated as cash flow hedges while others remain nondesignated . 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 “O ther income (expense) – net” in the consolidated statements of income. In the nine months ended September 30, 2015 and September 30, 2014 , 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 September 30, 2015 , we had posted collateral of $1,807 (a deposit asset) and held collateral of $379 (a receipt liability) . Under the agreements, if our credit rating had been downgraded one rating level by Fitch Rating s , before the final collateral exchange in September , we would have been required to post additional collateral of $ 105 . If D IREC TV Holdings LLC 's credit rating had been downgraded below BBB- (S&P) and below Baa3 (Moody's) we would owe an additional $92 . At December 31, 2014 , we had posted collateral of $530 (a deposit asset) and held collateral of $599 (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: September 30, December 31, 2015 2014 Interest rate swaps $ 7,050 $ 6,550 Cross-currency swaps 29,642 26,505 Interest rate locks - 6,750 Foreign exchange contracts 23 - Total $ 36,715 $ 39,805 Following are the related hedged items affecting our financial position and performance: Effect of Derivatives on the Consolidated Statements of Income Fair Value Hedging Relationships Three months ended Nine months ended September 30, 2015 September 30, 2014 September 30, 2015 September 30, 2014 Interest rate swaps (Interest expense): Gain (Loss) on interest rate swaps $ 54 $ (70) $ 65 $ (59) Gain (Loss) on long-term debt (54) 70 (65) 59 In addition, the net swap settlements that accrued and settled in the quarter ended September 30 were included in interest expense. Cash Flow Hedging Relationships Three months ended Nine months ended September 30, 2015 September 30, 2014 September 30, 2015 September 30, 2014 Cross-currency swaps: Gain (Loss) recognized in accumulated OCI $ (678) $ 567 $ (1,008) $ 418 Interest rate locks: Gain (Loss) recognized in accumulated OCI - - (361) - Interest income (expense) reclassified from accumulated OCI into income (17) (11) (43) (33) Foreign exchange contracts: Gain (Loss) recognized in accumulated OCI - - - (2) |
Acquisitions, Dispositions And
Acquisitions, Dispositions And Other Adjustments | 9 Months Ended |
Sep. 30, 2015 | |
Acquisitions, Dispositions And Other Adjustments | |
Acquisitions, Dispositions And Other Adjustments | NOTE 7. ACQUISITIONS , DISPOSITIONS AND OTHER ADJUSTMENTS Acquisitions DIRECTV On July 24 , 2015, we completed our acquisition of DIRECTV, a leading provider of digital television entertainment services in both the United States and Latin America. The acquisition represents an opportunity for us to integrate a unique and complementary set of assets and achieve substantial cost synergies over time, as well as generate revenue from pay television in Latin America . Our distribution scale will enable us to offer consumers bundles including video, high-speed broadband and mobile services, using all the sales channels of both companies. We believe the combined company will be a content distribution leader across mobile, video and broadband platforms. Under the merger agreement, each share of DIRECTV stock was exchanged for $28.50 cash plus 1. 892 shares of our common stock. After adjustment for shares issued to trust s consolidated by AT&T, share- based payment arrangements and fractional shares, which were settled in cash, AT&T issued 954, 407,524 shares to DIRECTV shareholde rs, giving them an approximate 16 % stake in the combined company, based on common shares outstanding. Based on our $ 34.29 per share closing stock price on July 24 , 2015, the aggregate value of consideration paid to DIRECTV shareholders was $ 47 , 40 4 , including $ 32 , 7 27 of AT&T stock and $ 14 , 37 8 in cash and $29 9 for share - based payment arrangements . Our third-quarter 2015 operating results include the results from DIRECTV following the acquisition date. The fair values of the assets acquired and liabilities assumed were preliminarily determined using the income, cost and market approaches. The fair value measurements were primarily based on significant inputs that are not observable in the market and thus represent a Level 3 measurement as defined in ASC 820, other than long-term debt assumed in the acquisition. The income approach was primarily used to value the intangible assets, consisting primarily of acquired technology and customer relationships. The income approach estimates fair value for an asset based on the present value of cash flow projected to be generated by the asset. Projected cash flow is discounted at a required rate of return that reflects the relative risk of achieving the cash flow and the time value of money. The cost approach, which estimates value by determining the current cost of replacing an asset with another of equivalent economic utility, was used, as appropriate, for plant, property and equipment. The cost to replace a given asset reflects the estimated reproduction or replacement cost for the property, less an allowance for loss in value due to depreciation . Our September 30, 2015 consolidated balance sheet include s the assets and liabilities of DIRECTV, which have be en measured at f air value. The following table summarizes the preliminary estimated fair values of the DIRECTV assets acquired and liabilities assumed and related deferred income taxes as of the acquisition date. DIRECTV Assets acquired Cash $ 4,763 Accounts receivable 2,116 All other current assets 1,795 Property, plant and equipment (including satellites) 8,811 Intangible assets not subject to amortization Orbital slots 11,946 Trade name (Latin America) 1,371 Intangible assets subject to amortization Customer lists and relationships 19,803 Trade name (U.S.) 1,634 Other 324 Investments and other assets 3,730 Goodwill 35,343 Total assets acquired 91,636 Liabilities assumed Current liabilities, excluding current portion of long-term debt 5,886 Long-term debt 20,500 Other noncurrent liabilities 17,492 Total liabilities assumed 43,878 Net assets acquired 47,758 Noncontrolling interest (354) Aggregate value of consideration paid $ 47,404 The se estimates are preliminary in nature and subject to adjustments , which could be material . Any necessary adjustments will be finalized within one year from the date of acquisition. Substantially all the receivables acquired are expected to be collectible. We have not identified any material unrecorded pre-acquisition contingencies where the related asset, liability or impairment is probable and the amount can be reasonably estimated. Goodwill is calculated as the difference between the acquisition date fair value of the consideration transferred and the fair value of the net assets acquired, and represents the future economic benefits that we expect to achieve as a result of acquisition. Prior to the finalization of the purchase price allocation, if information becomes available that would indicate it is probable that such events had occurred and the amounts can be reasonably estimated, such items will be included in the final purchase price allocation and may change goodwill. Purchased goodwill is not expected to be deductible for tax purposes. As we finalize the valuation of assets acquired and liabilities assumed, we will determine to which business segments and reporting units th at any changes in goodwill should be recorded. The following unaudited pro forma consolidated results of operations assume that the acquisition of DIRECTV was completed as of January 1 for each of the fiscal years shown below: Three months ended Nine months ended September 30, September 30, 2015 2014 2015 2014 Total operating revenues 1 $ 41,230 $ 41,301 $ 123,346 $ 122,263 Net Income Attributable to AT&T 2,985 3,429 9,210 11,065 Basic Earnings Per Share Attributable to AT&T $ 0.50 $ 0.56 $ 1.69 $ 1.80 Diluted Earnings Per Share Attributable to AT&T $ 0.50 $ 0.55 $ 1.69 $ 1.79 1 Reflects revenue declines resulting from our fourth-quarter 2014 sale of our Connecticut wireline operations. Nonrecurring adjustments included in the pro forma results above consist of the following: At June 30, 2015, due to the continued economic uncertainty and lack of liquidity in all three of the official currency exchange mechanisms in Venezuela, DIRECTV changed the exchange rate used to measure its Venezuelan subsidiary's monetary assets and liabilities into U.S. dollars from Sistema Complementario de Administración de Divisas (SICAD) to SIMADI. The significant change in exchange rates also required the reevaluation of the recoverability of fixed and intangible assets and inventory, which result ed in an impairment charge of $1,060 recorded in DIRECTV's c onsolidated s tatement of o perations. Prior to DIRECTV's June 30, 2015 change to the SIMADI, operating results for the six months ended June 30, 2015 were me a sured using the SICAD exchange rate which resulted in revenues in Venezuela of approximately $500 and operating profit before depreciation and amortization of approximately $180. Pro forma data may not be indicative of the results that would have been obtained had these events occurred at the beginning of the periods presented, nor is it intended to be a projection of future results. Nextel Mexico On April 30, 2015, we completed our acquisition of the subsidiaries of NII Holdings Inc., operating its wireless business in Mexico, for $ 1,875, including approximately $427 of net debt and other adjustments. The subsidiaries offer service under the name Nextel Mexico. The preliminary values of assets acquired were: $ 3 76 in licenses, $1, 391 in property, plant and equipment, $ 65 in customer lists and $ 414 of goodwill. 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, including net debt of approximately $700 . GSF Telecom offers service under both the Iusacell and Unefon brand names in Mexico. The preliminary values of assets acquired were: $920 in licenses, $712 in property, plant and equipment, $311 in customer lists, $26 in trade names and $1,124 of goodwill. AWS-3 Auction In January 2015, we submitted winning bids for 251 Advanced Wireless Service (AWS) spectrum licenses in the AWS-3 Auction (FCC Auction 97) for $18,189. We provided the Federal Communications Commission (FCC) an initial down payment of $921 in October 2014 and paid the remaining $17,268 in the first quarter of 2015. The interest associated with this acquisition will be excluded from interest expense and capitalized until this spectrum is ready for its intended use. |
Goodwill
Goodwill | 9 Months Ended |
Sep. 30, 2015 | |
Goodwill And Other Intangible Assets [Abstract] | |
Goodwill And Other Intangible Assets | NOTE 8 . GOODWILL As part of our organizational realignment discussed in Note 4, the goodwill from the previous Wireless segment was allocated to the Business Solutions and Consumer Mobility segments and the goodwill from the previous Wireline segment was allocated to the Business Solutions and Entertainment and Internet Services segment. The allocation was based on the relative fair value of the portions of the previous Wireless and Wireline segments which were moved into the new Business Solutions, Entertainment and Internet Services and Consumer Mobility segments. Changes in the carrying amounts of goodwill, by segment were as follows: Wireless Wireline Business Solutions Entertainment and Internet Services Consumer Mobility International Total 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 Goodwill Acquired 6 - - 31,653 - 5,228 36,887 Foreign Currency Translation Adjustments - - - - - (610) (610) Allocation of Goodwill (36,471) (33,226) 44,763 8,422 16,512 - - Other (4) 3 - - - (2) (3) Balance as of September 30, 2015 $ - $ - $ 44,763 $ 40,075 $ 16,512 $ 4,616 $ 105,966 The majority of our goodwill acquired during 201 5 related to our acquisitions of D IREC TV, Nextel Mexico and GSF Telecom (see Note 7) . The allocation of goodwill represents goodwill previously assigned to our W ireless and W ireline segments. Other changes to our goodwill in 2015 include foreign currency translation adjustments and the final valuation of Leap Wireless, Inc. (Leap). The majority of our goodwill acquired during 2014 related to our acquisition of Leap. Other changes to our goodwill during 2014 include adjustments related to closing the sale of our Connecticut wireline operations. |
Sale of Equipment Installment R
Sale of Equipment Installment Receivables | 9 Months Ended |
Sep. 30, 2015 | |
Changes In Other Assets [Abstract] | |
Finance Receivables Disclosure[Text Block] | NOTE 9 . 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 September 30, 2015 and December 31, 2014, gross equipment installment receivables of $ 4,428 and $4,265 were included on our consolidated balance sheets, of which $ 2,690 and $2,514 are notes receivable that are included in “Accounts receivable, net.” On June 27, 2014, we entered into the first of a series of 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). Under these agreements, we transferred the receivables to the Purchasers for cash and additional consideration upon settlement of the receivables. Under the terms of the arrangements, we continue to bill and collect on behalf of our customers for the receivables sold. To date, we have collected and remitted approximately $ 3,394 (net of fees), of which $ 421 was returned as deferred purchase price. The following table sets forth a summary of equipment installment receivables sold during the three months and nine months ended September 30 , 2015 and 2014 : Three months ended Nine months ended September 30, September 30, 2015 2014 2015 2014 Gross receivables sold $ 1,601 $ 1,028 $ 5,964 $ 2,665 Net receivables sold 1 1,431 885 5,367 2,276 Cash proceeds received 980 556 3,553 1,375 Deferred purchase price recorded 456 324 1,819 889 1 Receivables net of 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 6). During the third quarter of 2015, we repurchased installment receivables previously sold to the Purchasers , with a fair value of $412 . This transaction reduced our current deferred purchase price receivable by $314, resulting in a gain of $98 in the third quarter of 2015. This gain is included in “Selling, general and administrative” in the consolidated statements of income. At September 30, 2015, our deferred purchase price receivable was $ 2,869 , of which $ 1,676 is included in “Other current assets” on our consolidated balance sheets, with the remainder in “Other Assets.” At December 31, 2014, our deferred purchase price receivable was $1,606, which is included in “Other Assets.” 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. |
Preparation Of Interim Financ19
Preparation Of Interim Financial Statements (Policy) | 9 Months Ended |
Sep. 30, 2015 | |
Accounting Policies [Abstract] | |
Basis of Presentation and Significant Accounting Policies | Basis of Presentation Throughout this document, AT&T Inc. is referred to as “AT&T,” “we” or the “Company.” T hese consolidated financial statements include all adjustments that are necessary to present fairly the results for the presented interim periods , consisting of normal recurring accruals and other items . The results for the interim periods are not necessarily indicative of those for the full year. You should read this document in conjunction with the consolidated financial statements and accompanying notes included in our Annual Report on Form 10-K for the year ended December 31, 2014. The consolidated financial statements include the accounts of the Company and our majority-owned subsidiaries and affiliates , including the results of DIRECTV for the 68-day period ended September 30, 2015 . Our subsidiaries and affiliates operate in the communications and digital entertainment services industry , providing services and equ ipment that deliver voice, video and broadband services domestically and internationally . 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 period end. 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 and cumulative translation adjustments . 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 , including our presentation of “Equipment” and “Broadcast, programming and operations” expenses separately f rom other cost of services in the consolidated statements of income. Due to recent organizational changes and our July 24, 2015 acquisition of DIRECTV, effective for the quarter ended September 30, 2015, we are revising our operating segments to align with the new management structure and or ganizational responsibilities. We have revised our prior-period presentation to conform to our current reporting . (S ee Note 4) |
Customer Fulfillment Costs | Customer Fulfillment Costs In August 2015, with our acquisition of DIRECTV, we announced a change in accounting for customer set-up and installation costs. Historically we have followed an accounting polic y of deferring customer set-up and installation costs only to the extent of deferred revenues recorded for upfront fees (e.g., activation charges), and to expense any costs that exce ed deferred revenues. After discussing this change with the Securities and Exchange Commission, we changed our accounting to a preferable method of capitalizing these costs and amortizing them over the expected economic life of the customer relationship of approximately four years, subject to an assessment of the recoverability of such costs. This change in accounting principle impacts video, broadband Internet and wireline voice services and is considered prefe rable in that it provides an accurate reflection of assets (i.e., the contractual customer relationship obtained through the set-up and installation) generated by those specific business activities. Our new accounting method is more comparable with the accounting method used in the cable entertainment industry. With our acquisition of DIRECTV, changing to this accounting method will enhance comparability to other companies in the industry . This change in accounting does not have an impact on our wireless results , due to the absence of these types of expenses in those business activities . |
New Accounting Standards | New Accounting Standards Revenue Recognition 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. ASU 2014-09 becomes effective for annual reporting periods b eginning after December 15, 2017, following the July 2015 approval of a one-year deferral of the effective date by the FASB . W hile w e continue to evaluate the impact of the new standard on revenue and costs of acquisition as well as available adoption methods , the requirement to defer costs is not expected to have a significant impact on our operating results as a result of our policy change on fulfillment costs . Long-Term Debt and Debt Issuance Costs In April 2015, the FASB issued ASU No. 2015-03, “Interest—Imputation of Interest: Simplifying the Presentation of Debt Issuance Costs” (ASU 2015-03), which will result in the reclassification of debt issuance costs from “Other Assets” to inclusion as a red uction of our reportable “Long-T erm Debt” balance on o ur consolidated balance sheets. Since ASU 2015-03 does not address deferred issuance costs for line-of-credit arrangements, the FASB issued ASU No. 2015-15, “ Interest—Imputation of Interest : Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arr angem ents” (ASU 2015-15), in August 2015. ASU 2015-15 allow s a company to defer debt issuance costs associated with line-of-credit arrangements , including arrangements with no outstanding borrowings , classify them as an asset, and amortize them over the term of the arrangements . ASU 2015-03 become s effective January 1, 2016, subject to early adoption, and will require full retrospective ap plication. We do not expect these new standard s to have a material impact on our consolidated balance sheets. Business Combinations In September 2015, the FASB issued ASU No 2015-16, “Business Combinations—Simplifying the Accounting for Measurement-Period Adjustments” (ASU 2015-16), which will result in the ability to recognize , in current-period earnings, any changes in provisional amounts during the measurement period after the closing of an acquisition , instead of retroactively account ing for these changes . ASU 2015-16 becomes effective January 1, 2016, subject to early adoption, and will require prospective application to adjustments to provisional amounts that occur after the effective date of ASU 2015-16. We are evaluating the impact of the new standard on our operating results . |
Revenue Recognition | Revenue Recognition 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. ASU 2014-09 becomes effective for annual reporting periods b eginning after December 15, 2017, following the July 2015 approval of a one-year deferral of the effective date by the FASB . W hile w e continue to evaluate the impact of the new standard on revenue and costs of acquisition as well as available adoption methods , the requirement to defer costs is not expected to have a significant impact on our operating results as a result of our policy change on fulfillment costs . |
Long Term Debt And Debt Issuance Cost | Long-Term Debt and Debt Issuance Costs In April 2015, the FASB issued ASU No. 2015-03, “Interest—Imputation of Interest: Simplifying the Presentation of Debt Issuance Costs” (ASU 2015-03), which will result in the reclassification of debt issuance costs from “Other Assets” to inclusion as a red uction of our reportable “Long-T erm Debt” balance on o ur consolidated balance sheets. Since ASU 2015-03 does not address deferred issuance costs for line-of-credit arrangements, the FASB issued ASU No. 2015-15, “ Interest—Imputation of Interest : Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arr angem ents” (ASU 2015-15), in August 2015. ASU 2015-15 allow s a company to defer debt issuance costs associated with line-of-credit arrangements , including arrangements with no outstanding borrowings , classify them as an asset, and amortize them over the term of the arrangements . ASU 2015-03 become s effective January 1, 2016, subject to early adoption, and will require full retrospective ap plication. We do not expect these new standard s to have a material impact on our consolidated balance sheets. |
Business Combination | Business Combinations In September 2015, the FASB issued ASU No 2015-16, “Business Combinations—Simplifying the Accounting for Measurement-Period Adjustments” (ASU 2015-16), which will result in the ability to recognize , in current-period earnings, any changes in provisional amounts during the measurement period after the closing of an acquisition , instead of retroactively account ing for these changes . ASU 2015-16 becomes effective January 1, 2016, subject to early adoption, and will require prospective application to adjustments to provisional amounts that occur after the effective date of ASU 2015-16. We are evaluating the impact of the new standard on our operating results . |
Fair Value Measurements And D20
Fair Value Measurements And Disclosure (Policy) | 9 Months Ended |
Sep. 30, 2015 | |
Fair Value Disclosures [Abstract] | |
Derivatives, Offsetting Fair Value Amounts, Policy [Policy Text Block] | We do not offset the fair value of collateral, whether the right to reclaim cash collateral (a receivable) or the obligation to return cash collateral (a payable), against the fair value of the derivative instruments . |
Preparation Of Interim Financ21
Preparation Of Interim Financial Statements (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
New Accounting Pronouncements and Changes in Accounting Principles | |
Schedule of New Accounting Pronouncements and Changes in Accounting Principles | Historical Accounting Method As Adjusted Effect of Change For the three months ended September 30, 2015 Other cost of services $ 9,290 $ 9,214 $ (76) Income tax expense 1,628 1,657 29 Net Income 3,031 3,078 47 Net Income Attributable to AT&T 2,947 2,994 47 Basic Earnings per Share Attributable to AT&T $ 0.50 $ 0.50 $ - Diluted Earnings per Share Attributable to AT&T 0.50 0.50 - At September 30, 2015 or for the nine months ended Other cost of services $ 27,842 $ 27,604 $ (238) Income tax expense 4,694 4,784 90 Net Income 9,453 9,601 148 Net Income Attributable to AT&T 9,191 9,339 148 Basic Earnings per Share Attributable to AT&T $ 1.68 $ 1.71 $ 0.03 Diluted Earnings per Share Attributable to AT&T 1.68 1.71 0.03 Other current assets $ 9,579 $ 11,254 $ 1,675 Other Assets 10,671 13,585 2,914 Deferred income taxes 51,949 53,044 1,095 Retained earnings 29,133 32,627 3,494 Historical Accounting Method As Adjusted Effect of Change For the three months ended September 30, 2014 Other cost of services $ 9,071 $ 8,866 $ (205) Income tax expense 1,367 1,444 77 Net Income 3,059 3,187 128 Net Income Attributable to AT&T 3,002 3,130 128 Basic Earnings per Share Attributable to AT&T $ 0.58 $ 0.60 $ 0.02 Diluted Earnings per Share Attributable to AT&T 0.58 0.60 0.02 For the nine months ended September 30, 2014 Other cost of services $ 26,552 $ 26,167 $ (385) Income tax expense 5,769 5,914 145 Net Income 10,414 10,654 240 Net Income Attributable to AT&T 10,201 10,441 240 Basic Earnings per Share Attributable to AT&T $ 1.96 $ 2.00 $ 0.04 Diluted Earnings per Share Attributable to AT&T 1.95 2.00 0.05 Historical Accounting Method As Adjusted Effect of Change At December 31, 2014 Other current assets $ 8,067 $ 9,802 $ 1,735 Other Assets 10,998 13,659 2,661 Accrued taxes 1,091 1,136 45 Deferred income taxes 37,544 38,549 1,005 Retained earnings 27,736 31,081 3,345 |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Earnings Per Share | |
Reconciliation Of The Numerators And Denominators Of Basic Earnings Per Share And Diluted Earnings Per Share | Three months ended Nine months ended September 30, September 30, 2015 2014 2015 2014 Numerators Numerator for basic earnings per share: Net Income $ 3,078 $ 3,187 $ 9,601 $ 10,654 Less: Net income attributable to noncontrolling interest (84) (57) (262) (213) Net Income attributable to AT&T 2,994 3,130 9,339 10,441 Dilutive potential common shares: Share-based payment 3 2 9 9 Numerator for diluted earnings per share $ 2,997 $ 3,132 $ 9,348 $ 10,450 Denominators (000,000) Denominator for basic earnings per share: Weighted average number of common shares outstanding 5,924 5,198 5,447 5,208 Dilutive potential common shares: Share-based payment (in shares) 19 16 16 16 Denominator for diluted earnings per share 5,943 5,214 5,463 5,224 Basic earnings per share attributable to AT&T $ 0.50 $ 0.60 $ 1.71 $ 2.00 Diluted earnings per share attributable to AT&T $ 0.50 $ 0.60 $ 1.71 $ 2.00 |
Accumulated Other Comprehensi23
Accumulated Other Comprehensive Income (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Accumulated Other Comprehensive Income | |
Accumulated Other Comprehensive Income | At September 30, 2015 and for the period ended: Foreign Currency Translation Adjustment Net Unrealized Gains (Losses) on Available-for-Sale Securities Net Unrealized Gains (Losses) on Cash Flow Hedges Defined Benefit Postretirement Plans Accumulated Other Comprehensive Income Balance as of December 31, 2014 $ (26) $ 499 $ 741 $ 6,847 $ 8,061 Other comprehensive income (loss) before reclassifications (1,204) (51) (890) - (2,145) Amounts reclassified from accumulated OCI - 1 (6) 2 28 3 (644) 4 (622) Net other comprehensive income (loss) (1,204) (57) (862) (644) (2,767) Balance as of September 30, 2015 $ (1,230) $ 442 $ (121) $ 6,203 $ 5,294 At September 30, 2014 and for the period ended: Foreign Currency Translation Adjustment Net Unrealized Gains (Losses) on Available-for-Sale Securities Net Unrealized Gains (Losses) on Cash Flow Hedges Defined Benefit Postretirement Plans Accumulated Other Comprehensive Income Balance as of December 31, 2013 $ (367) $ 450 $ 445 $ 7,352 $ 7,880 Other comprehensive income (loss) before reclassifications (29) 30 272 - 273 Amounts reclassified from accumulated OCI 416 1 (15) 2 29 3 (657) 4 (227) Net other comprehensive income (loss) 387 15 301 (657) 46 Balance as of September 30, 2014 $ 20 $ 465 $ 746 $ 6,695 $ 7,926 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 6 for additional information. 4 The amortization of prior service credits associated with postretirement benefits, net of amounts capitalized as part of construction labor, are included in Other cost of services and Selling, general and administrative in the consolidated statements of income (see Note 5). Actuarial loss reclassifications related to our equity method investees are included in Other income (expense) - net in the consolidated statements of income. |
Segment Information (Tables)
Segment Information (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Segment Information | |
Summary Of Operating Revenues And Expenses By Segment | For the three months ended September 30, 2015 Revenue Operations and Support Expenses EBITDA Depreciation and Amortization Operating Income (Loss) Equity in Net Income (Loss) of Affiliates Segment Contribution Business Solutions $ 17,692 $ 10,921 $ 6,771 $ 2,474 $ 4,297 $ - $ 4,297 Entertainment and Internet Services 10,858 8,450 2,408 1,389 1,019 2 1,021 Consumer Mobility 8,784 5,065 3,719 976 2,743 - 2,743 International 1,526 1,384 142 225 (83) (4) (87) Segment Total 38,860 25,820 13,040 5,064 7,976 (2) 7,974 Corporate and Other 316 315 1 3 (2) Acquisition-related items (85) 611 (696) 1,198 (1,894) Certain significant items - 157 (157) - (157) AT&T Inc. $ 39,091 $ 26,903 $ 12,188 $ 6,265 $ 5,923 For the nine months ended September 30, 2015 Revenue Operations and Support Expenses EBITDA Depreciation and Amortization Operating Income (Loss) Equity in Net Income (Loss) of Affiliates Segment Contribution Business Solutions $ 52,913 $ 32,966 $ 19,947 $ 7,276 $ 12,671 $ - $ 12,671 Entertainment and Internet Services 22,300 18,222 4,078 3,519 559 (16) 543 Consumer Mobility 26,317 15,808 10,509 2,912 7,597 - 7,597 International 2,253 2,131 122 346 (224) (4) (228) Segment Total 103,783 69,127 34,656 14,053 20,603 (20) 20,583 Corporate and Other 984 785 199 47 152 Acquisition-related items (85) 1,604 (1,689) 1,439 (3,128) Certain significant items - 374 (374) - (374) AT&T Inc. $ 104,682 $ 71,890 $ 32,792 $ 15,539 $ 17,253 For the three months ended September 30, 2014 Revenue Operations and Support Expenses EBITDA Depreciation and Amortization Operating Income (Loss) Equity in Net Income (Loss) of Affiliates Segment Contribution Business Solutions $ 17,487 $ 11,295 $ 6,192 $ 2,331 $ 3,861 $ - $ 3,861 Entertainment and Internet Services 5,553 4,781 772 1,109 (337) - (337) Consumer Mobility 9,208 5,731 3,477 950 2,527 (1) 2,526 International - - - - - - - Segment Total 32,248 21,807 10,441 4,390 6,051 (1) 6,050 Corporate and Other 709 791 (82) 24 (106) Acquisition-related items - 213 (213) 125 (338) Certain significant items - - - - - AT&T Inc. $ 32,957 $ 22,811 $ 10,146 $ 4,539 $ 5,607 For the nine months ended September 30, 2014 Revenue Operations and Support Expenses EBITDA Depreciation and Amortization Operating Income (Loss) Equity in Net Income (Loss) of Affiliates Segment Contribution Business Solutions $ 51,877 $ 32,836 $ 19,041 $ 7,009 $ 12,032 $ - $ 12,032 Entertainment and Internet Services 16,640 14,182 2,458 3,396 (938) - (938) Consumer Mobility 27,247 17,173 10,074 2,846 7,228 (1) 7,227 International - - - - - 153 153 Segment Total 95,764 64,191 31,573 13,251 18,322 152 18,474 Corporate and Other 2,244 2,027 217 77 140 - Acquisition-related items - 403 (403) 378 (781) - Certain significant items - - - - - - AT&T Inc. $ 98,008 $ 66,621 $ 31,387 $ 13,706 $ 17,681 - |
Reconciliation of Operating Income (Loss) from Segments to Consolidated Statements of Income | The following table is a reconciliation of operating income (loss) to “Income Before Income Taxes” reported on our consolidated statements of income. Third Quarter Nine-Month Period 2015 2014 2015 2014 Business Solutions $ 4,297 $ 3,861 $ 12,671 $ 12,032 Entertainment and Internet Services 1,021 (337) 543 (938) Consumer Mobility 2,743 2,526 7,597 7,227 International (87) - (228) 153 Segment Contribution 7,974 6,050 20,583 18,474 Reconciling Items: Corporate and Other (2) (106) 152 140 Merger and integration charges (696) (213) (1,689) (403) Amortization of intangibles acquired (1,198) (125) (1,439) (378) Employee separation charges (122) - (339) - Other (expenses) credits (35) - (35) - Less: segment equity in net (income) loss of affiliates 2 1 20 (152) AT&T Operating Income 5,923 5,607 17,253 17,681 Interest Expense 1,146 1,016 2,977 2,757 Equity in net income (loss) of affiliates 15 (2) 48 188 Other income (expense) - Net (57) 42 61 1,456 Income Before Income Taxes $ 4,735 $ 4,631 $ 14,385 $ 16,568 |
Pension And Postretirement Be25
Pension And Postretirement Benefits (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Pension And Postretirement Benefits | |
Pension And Postretirement Benefit Costs Included In Operating Expenses | Three months ended Nine months ended September 30, September 30, 2015 2014 2015 2014 Pension cost: Service cost – benefits earned during the period $ 305 $ 282 $ 904 $ 846 Interest cost on projected benefit obligation 477 661 1,424 1,984 Expected return on assets (832) (849) (2,484) (2,549) Amortization of prior service credit (25) (24) (77) (71) Net pension (credit) cost $ (75) $ 70 $ (233) $ 210 Postretirement cost: Service cost – benefits earned during the period $ 55 $ 59 $ 166 $ 175 Interest cost on accumulated postretirement benefit obligation 242 365 725 1,094 Expected return on assets (105) (165) (315) (491) Amortization of prior service credit (320) (362) (959) (1,086) Net postretirement (credit) cost $ (128) $ (103) $ (383) $ (308) Combined net pension and postretirement (credit) cost $ (203) $ (33) $ (616) $ (98) |
Fair Value Measurements And D26
Fair Value Measurements And Disclosure (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Fair Value Disclosures [Abstract] | |
Long-Term Debt And Other Financial Instruments | September 30, 2015 December 31, 2014 Carrying Fair Carrying Fair Amount Value Amount Value Notes and debentures $ 126,042 $ 129,524 $ 81,632 $ 90,367 Bank borrowings 4 4 5 5 Investment securities 2,644 2,644 2,735 2,735 |
Fair Value Leveling | September 30, 2015 Level 1 Level 2 Level 3 Total Available-for-Sale Securities Domestic equities $ 1,094 $ - $ - $ 1,094 International equities 561 - - 561 Fixed income bonds - 737 - 737 Asset Derivatives 1 Interest rate swaps - 217 - 217 Cross-currency swaps - 796 - 796 Liability Derivatives 1 Cross-currency swaps - (3,202) - (3,202) Foreign exchange contracts - (1) - (1) December 31, 2014 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 Derivatives 1 Interest rate swaps - 157 - 157 Cross-currency swaps - 1,243 - 1,243 Interest rate locks - 5 - 5 Liability Derivatives 1 Cross-currency swaps - (1,506) - (1,506) Interest rate locks - (133) - (133) 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 | September 30, December 31, 2015 2014 Interest rate swaps $ 7,050 $ 6,550 Cross-currency swaps 29,642 26,505 Interest rate locks - 6,750 Foreign exchange contracts 23 - Total $ 36,715 $ 39,805 |
Effect Of Derivatives On The Consolidated Statements Of Income | Following are the related hedged items affecting our financial position and performance: Effect of Derivatives on the Consolidated Statements of Income Fair Value Hedging Relationships Three months ended Nine months ended September 30, 2015 September 30, 2014 September 30, 2015 September 30, 2014 Interest rate swaps (Interest expense): Gain (Loss) on interest rate swaps $ 54 $ (70) $ 65 $ (59) Gain (Loss) on long-term debt (54) 70 (65) 59 Cash Flow Hedging Relationships Three months ended Nine months ended September 30, 2015 September 30, 2014 September 30, 2015 September 30, 2014 Cross-currency swaps: Gain (Loss) recognized in accumulated OCI $ (678) $ 567 $ (1,008) $ 418 Interest rate locks: Gain (Loss) recognized in accumulated OCI - - (361) - Interest income (expense) reclassified from accumulated OCI into income (17) (11) (43) (33) Foreign exchange contracts: Gain (Loss) recognized in accumulated OCI - - - (2) |
Acquisitions, Dispositions An27
Acquisitions, Dispositions And Other Adjustments (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Acquisitions, Dispositions And Other Adjustments | |
Schedule of Business Acquisitions, by Acquisition [Table Text Block] | DIRECTV Assets acquired Cash $ 4,763 Accounts receivable 2,116 All other current assets 1,795 Property, plant and equipment (including satellites) 8,811 Intangible assets not subject to amortization Orbital slots 11,946 Trade name (Latin America) 1,371 Intangible assets subject to amortization Customer lists and relationships 19,803 Trade name (U.S.) 1,634 Other 324 Investments and other assets 3,730 Goodwill 35,343 Total assets acquired 91,636 Liabilities assumed Current liabilities, excluding current portion of long-term debt 5,886 Long-term debt 20,500 Other noncurrent liabilities 17,492 Total liabilities assumed 43,878 Net assets acquired 47,758 Noncontrolling interest (354) Aggregate value of consideration paid $ 47,404 |
Business Acquisition, Pro Forma Information [Table Text Block] | Three months ended Nine months ended September 30, September 30, 2015 2014 2015 2014 Total operating revenues 1 $ 41,230 $ 41,301 $ 123,346 $ 122,263 Net Income Attributable to AT&T 2,985 3,429 9,210 11,065 Basic Earnings Per Share Attributable to AT&T $ 0.50 $ 0.56 $ 1.69 $ 1.80 Diluted Earnings Per Share Attributable to AT&T $ 0.50 $ 0.55 $ 1.69 $ 1.79 1 Reflects revenue declines resulting from our fourth-quarter 2014 sale of our Connecticut wireline operations. |
Goodwill (Tables)
Goodwill (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Goodwill And Other Intangible Assets [Abstract] | |
Summary Of Changes In Carrying Amount Of Goodwill, By Segment | Wireless Wireline Business Solutions Entertainment and Internet Services Consumer Mobility International Total 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 Goodwill Acquired 6 - - 31,653 - 5,228 36,887 Foreign Currency Translation Adjustments - - - - - (610) (610) Allocation of Goodwill (36,471) (33,226) 44,763 8,422 16,512 - - Other (4) 3 - - - (2) (3) Balance as of September 30, 2015 $ - $ - $ 44,763 $ 40,075 $ 16,512 $ 4,616 $ 105,966 |
Sale of Equipment Installment29
Sale of Equipment Installment Receivables (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Changes In Other Assets [Abstract] | |
Finance Receivables | Three months ended Nine months ended September 30, September 30, 2015 2014 2015 2014 Gross receivables sold $ 1,601 $ 1,028 $ 5,964 $ 2,665 Net receivables sold 1 1,431 885 5,367 2,276 Cash proceeds received 980 556 3,553 1,375 Deferred purchase price recorded 456 324 1,819 889 1 Receivables net of allowance, imputed interest and trade-in right guarantees. |
Preparation Of Interim Financ30
Preparation Of Interim Financial Statements (Narrative) (Details) $ in Millions | Jan. 01, 2014USD ($) |
Preparation Of Interim Financial Statements Disclosure [Abstract] | |
Cumulative effect of change in accounting principle | $ 3,128 |
Preparation Of Interim Financ31
Preparation Of Interim Financial Statements (Details) - USD ($) $ / shares in Units, $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | Dec. 31, 2014 | |
Change in Accounting Principle [Line Items] | |||||
Other cost of services | $ 9,214 | $ 8,866 | $ 27,604 | $ 26,167 | |
Income tax expense | 1,657 | 1,444 | 4,784 | 5,914 | |
Net income | 3,078 | 3,187 | 9,601 | 10,654 | |
Net Income attributable to AT&T | $ 2,994 | $ 3,130 | $ 9,339 | $ 10,441 | |
Basic Earnings Per Share Attributable to AT&T | $ 0.50 | $ 0.60 | $ 1.71 | $ 2 | |
Diluted Earnings Per Share Attributable to AT&T | $ 0.50 | $ 0.60 | $ 1.71 | $ 2 | |
Other current assets | $ 11,254 | $ 11,254 | $ 9,802 | ||
Other Assets | 13,585 | 13,585 | 13,659 | ||
Accrued taxes | 4,591 | 4,591 | 1,136 | ||
Deferred income taxes | 53,044 | 53,044 | 38,549 | ||
Retained Earnings | 32,627 | 32,627 | 31,081 | ||
Historical Accounting Method [Member] | |||||
Change in Accounting Principle [Line Items] | |||||
Other cost of services | 9,290 | $ 9,071 | 27,842 | $ 26,552 | |
Income tax expense | 1,628 | 1,367 | 4,694 | 5,769 | |
Net income | 3,031 | 3,059 | 9,453 | 10,414 | |
Net Income attributable to AT&T | $ 2,947 | $ 3,002 | $ 9,191 | $ 10,201 | |
Basic Earnings Per Share Attributable to AT&T | $ 0.50 | $ 0.58 | $ 1.68 | $ 1.96 | |
Diluted Earnings Per Share Attributable to AT&T | $ 0.50 | $ 0.58 | $ 1.68 | $ 1.95 | |
Other current assets | $ 9,579 | $ 9,579 | 8,067 | ||
Other Assets | 10,671 | 10,671 | 10,998 | ||
Accrued taxes | 1,091 | ||||
Deferred income taxes | 51,949 | 51,949 | 37,544 | ||
Retained Earnings | 29,133 | 29,133 | 27,736 | ||
Effect of Change [Member] | |||||
Change in Accounting Principle [Line Items] | |||||
Other cost of services | (76) | $ (205) | (238) | $ (385) | |
Income tax expense | 29 | 77 | 90 | 145 | |
Net income | 47 | 128 | 148 | 240 | |
Net Income attributable to AT&T | $ 47 | $ 128 | $ 148 | $ 240 | |
Basic Earnings Per Share Attributable to AT&T | $ 0 | $ 0.02 | $ 0.03 | $ 0.04 | |
Diluted Earnings Per Share Attributable to AT&T | $ 0 | $ 0.02 | $ 0.03 | $ 0.05 | |
Other current assets | $ 1,675 | $ 1,675 | 1,735 | ||
Other Assets | 2,914 | 2,914 | 2,661 | ||
Accrued taxes | 45 | ||||
Deferred income taxes | 1,095 | 1,095 | 1,005 | ||
Retained Earnings | $ 3,494 | $ 3,494 | $ 3,345 |
Earnings Per Share (Details)
Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Earnings Per Share | ||||
Net income | $ 3,078 | $ 3,187 | $ 9,601 | $ 10,654 |
Less: Net income attributable to noncontrolling interest | (84) | (57) | (262) | (213) |
Net Income attributable to AT&T | 2,994 | 3,130 | 9,339 | 10,441 |
Share-based payment | 3 | 2 | 9 | 9 |
Numerator for diluted earnings per share | $ 2,997 | $ 3,132 | $ 9,348 | $ 10,450 |
Weighted-average number of common shares outstanding | 5,924 | 5,198 | 5,447 | 5,208 |
Share-based payment (in shares) | 19 | 16 | 16 | 16 |
Denominator for diluted earnings per share | 5,943 | 5,214 | 5,463 | 5,224 |
Basic Earnings Per Share Attributable to AT&T | $ 0.50 | $ 0.60 | $ 1.71 | $ 2 |
Diluted Earnings Per Share Attributable to AT&T | $ 0.50 | $ 0.60 | $ 1.71 | $ 2 |
Accumulated Other Comprehensi33
Accumulated Other Comprehensive Income (Details) - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2015 | Sep. 30, 2014 | |
Accumulated Other Comprehensive Income Loss [Line Items] | ||
Accumulated other comprehensive income, beginning balance | $ 8,061 | $ 7,880 |
Other comprehensive income (loss) before reclassification, net of tax | (2,145) | 273 |
Amounts reclassifed from accumulated OCI, net of tax | (622) | (227) |
Net other comprehensive income (loss), net of tax | (2,767) | 46 |
Accumulated other comprehensive income, ending balance | 5,294 | 7,926 |
Foreign Currency Translation Adjustment [Member] | ||
Accumulated Other Comprehensive Income Loss [Line Items] | ||
Accumulated other comprehensive income, beginning balance | (26) | (367) |
Other comprehensive income (loss) before reclassification, net of tax | (1,204) | (29) |
Amounts reclassifed from accumulated OCI, net of tax | 0 | 416 |
Net other comprehensive income (loss), net of tax | (1,204) | 387 |
Accumulated other comprehensive income, ending balance | (1,230) | 20 |
Net Unrealized Gains (Losses) on Available-for-Sale Securities [Member] | ||
Accumulated Other Comprehensive Income Loss [Line Items] | ||
Accumulated other comprehensive income, beginning balance | 499 | 450 |
Other comprehensive income (loss) before reclassification, net of tax | (51) | 30 |
Amounts reclassifed from accumulated OCI, net of tax | (6) | (15) |
Net other comprehensive income (loss), net of tax | (57) | 15 |
Accumulated other comprehensive income, ending balance | 442 | 465 |
Net Unrealized Gains (Losses) on Cash Flow Hedges [Member] | ||
Accumulated Other Comprehensive Income Loss [Line Items] | ||
Accumulated other comprehensive income, beginning balance | 741 | 445 |
Other comprehensive income (loss) before reclassification, net of tax | (890) | 272 |
Amounts reclassifed from accumulated OCI, net of tax | 28 | 29 |
Net other comprehensive income (loss), net of tax | (862) | 301 |
Accumulated other comprehensive income, ending balance | (121) | 746 |
Defined Benefit Postretirement Plans [Member] | ||
Accumulated Other Comprehensive Income Loss [Line Items] | ||
Accumulated other comprehensive income, beginning balance | 6,847 | 7,352 |
Other comprehensive income (loss) before reclassification, net of tax | 0 | 0 |
Amounts reclassifed from accumulated OCI, net of tax | (644) | (657) |
Net other comprehensive income (loss), net of tax | (644) | (657) |
Accumulated other comprehensive income, ending balance | $ 6,203 | $ 6,695 |
Segment Information (Summary Of
Segment Information (Summary Of Operating Revenues And Expenses) (Narrative) (Details) | 9 Months Ended | |
Sep. 30, 2015 | Jul. 24, 2015 | |
Segment Reporting Information [Line Items] | ||
Number of Reportable Segments | 4 | |
DIRECTV [Member] | Venezuelan Bolivar [Member] | ||
Segment Reporting Information [Line Items] | ||
Exchange rate (per US dollar) | 199.42 | 199.65 |
Segment Information (Summary 35
Segment Information (Summary Of Operating Revenues And Expenses) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Segment Reporting Information [Line Items] | ||||
Revenue | $ 39,091 | $ 32,957 | $ 104,682 | $ 98,008 |
Operations and Support Expenses | 26,903 | 22,811 | 71,890 | 66,621 |
EBITDA | 12,188 | 10,146 | 32,792 | 31,387 |
Depreciation and Amortization | 6,265 | 4,539 | 15,539 | 13,706 |
Operating Income (Loss) | 5,923 | 5,607 | 17,253 | 17,681 |
Equity in Net Income (Loss) of Affiliates | 15 | (2) | 48 | 188 |
Segment Contribution | 4,735 | 4,631 | 14,385 | 16,568 |
Operating Segments [Member] | Business Solutions [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | 17,692 | 17,487 | 52,913 | 51,877 |
Operations and Support Expenses | 10,921 | 11,295 | 32,966 | 32,836 |
EBITDA | 6,771 | 6,192 | 19,947 | 19,041 |
Depreciation and Amortization | 2,474 | 2,331 | 7,276 | 7,009 |
Operating Income (Loss) | 4,297 | 3,861 | 12,671 | 12,032 |
Equity in Net Income (Loss) of Affiliates | 0 | 0 | 0 | 0 |
Segment Contribution | 4,297 | 3,861 | 12,671 | 12,032 |
Operating Segments [Member] | Entertainment And Internet Services [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | 10,858 | 5,553 | 22,300 | 16,640 |
Operations and Support Expenses | 8,450 | 4,781 | 18,222 | 14,182 |
EBITDA | 2,408 | 772 | 4,078 | 2,458 |
Depreciation and Amortization | 1,389 | 1,109 | 3,519 | 3,396 |
Operating Income (Loss) | 1,019 | (337) | 559 | (938) |
Equity in Net Income (Loss) of Affiliates | 2 | 0 | (16) | 0 |
Segment Contribution | 1,021 | (337) | 543 | (938) |
Operating Segments [Member] | Consumer Mobility [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | 8,784 | 9,208 | 26,317 | 27,247 |
Operations and Support Expenses | 5,065 | 5,731 | 15,808 | 17,173 |
EBITDA | 3,719 | 3,477 | 10,509 | 10,074 |
Depreciation and Amortization | 976 | 950 | 2,912 | 2,846 |
Operating Income (Loss) | 2,743 | 2,527 | 7,597 | 7,228 |
Equity in Net Income (Loss) of Affiliates | 0 | (1) | 0 | (1) |
Segment Contribution | 2,743 | 2,526 | 7,597 | 7,227 |
Operating Segments [Member] | International [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | 1,526 | 0 | 2,253 | 0 |
Operations and Support Expenses | 1,384 | 0 | 2,131 | 0 |
EBITDA | 142 | 0 | 122 | 0 |
Depreciation and Amortization | 225 | 0 | 346 | 0 |
Operating Income (Loss) | (83) | 0 | (224) | 0 |
Equity in Net Income (Loss) of Affiliates | (4) | 0 | (4) | 153 |
Segment Contribution | (87) | 0 | (228) | 153 |
Operating Segments [Member] | Segment Total [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | 38,860 | 32,248 | 103,783 | 95,764 |
Operations and Support Expenses | 25,820 | 21,807 | 69,127 | 64,191 |
EBITDA | 13,040 | 10,441 | 34,656 | 31,573 |
Depreciation and Amortization | 5,064 | 4,390 | 14,053 | 13,251 |
Operating Income (Loss) | 7,976 | 6,051 | 20,603 | 18,322 |
Equity in Net Income (Loss) of Affiliates | (2) | (1) | (20) | 152 |
Segment Contribution | 7,974 | 6,050 | 20,583 | 18,474 |
Consolidation Non-Segment [Member] | Corporate and Other [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | 316 | 709 | 984 | 2,244 |
Operations and Support Expenses | 315 | 791 | 785 | 2,027 |
EBITDA | 1 | (82) | 199 | 217 |
Depreciation and Amortization | 3 | 24 | 47 | 77 |
Operating Income (Loss) | (2) | (106) | 152 | 140 |
Consolidation Non-Segment [Member] | Acquisition-related items [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | (85) | 0 | (85) | 0 |
Operations and Support Expenses | 611 | 213 | 1,604 | 403 |
EBITDA | (696) | (213) | (1,689) | (403) |
Depreciation and Amortization | 1,198 | 125 | 1,439 | 378 |
Operating Income (Loss) | (1,894) | (338) | (3,128) | (781) |
Consolidation Non-Segment [Member] | Certain Significant Items [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | 0 | 0 | 0 | 0 |
Operations and Support Expenses | 157 | 0 | 374 | 0 |
EBITDA | (157) | 0 | (374) | 0 |
Depreciation and Amortization | 0 | 0 | 0 | 0 |
Operating Income (Loss) | $ (157) | $ 0 | $ (374) | $ 0 |
Segment Information (Reconcilia
Segment Information (Reconciliation Of Operating Income Loss to Consolidated Statement Of Income) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Segment Reporting Reconciling Item For Operating Income (Loss) From Segment To Consolidated Statements Of Income [Line Items] | ||||
Operating Income (Loss) | $ 5,923 | $ 5,607 | $ 17,253 | $ 17,681 |
Interest Expense | 1,146 | 1,016 | 2,977 | 2,757 |
Equity in net income (loss) of affiliates | 15 | (2) | 48 | 188 |
Other income (expense) - net | (57) | 42 | 61 | 1,456 |
Income Before Income Taxes | 4,735 | 4,631 | 14,385 | 16,568 |
Operating Segments [Member] | Business Solutions [Member] | ||||
Segment Reporting Reconciling Item For Operating Income (Loss) From Segment To Consolidated Statements Of Income [Line Items] | ||||
Operating Income (Loss) | 4,297 | 3,861 | 12,671 | 12,032 |
Equity in net income (loss) of affiliates | 0 | 0 | 0 | 0 |
Income Before Income Taxes | 4,297 | 3,861 | 12,671 | 12,032 |
Operating Segments [Member] | Entertainment And Internet Services [Member] | ||||
Segment Reporting Reconciling Item For Operating Income (Loss) From Segment To Consolidated Statements Of Income [Line Items] | ||||
Operating Income (Loss) | 1,019 | (337) | 559 | (938) |
Equity in net income (loss) of affiliates | 2 | 0 | (16) | 0 |
Income Before Income Taxes | 1,021 | (337) | 543 | (938) |
Operating Segments [Member] | Consumer Mobility [Member] | ||||
Segment Reporting Reconciling Item For Operating Income (Loss) From Segment To Consolidated Statements Of Income [Line Items] | ||||
Operating Income (Loss) | 2,743 | 2,527 | 7,597 | 7,228 |
Equity in net income (loss) of affiliates | 0 | (1) | 0 | (1) |
Income Before Income Taxes | 2,743 | 2,526 | 7,597 | 7,227 |
Operating Segments [Member] | International [Member] | ||||
Segment Reporting Reconciling Item For Operating Income (Loss) From Segment To Consolidated Statements Of Income [Line Items] | ||||
Operating Income (Loss) | (83) | 0 | (224) | 0 |
Equity in net income (loss) of affiliates | (4) | 0 | (4) | 153 |
Income Before Income Taxes | (87) | 0 | (228) | 153 |
Operating Segments [Member] | Segment Contribution [Member] | ||||
Segment Reporting Reconciling Item For Operating Income (Loss) From Segment To Consolidated Statements Of Income [Line Items] | ||||
Operating Income (Loss) | 7,976 | 6,051 | 20,603 | 18,322 |
Equity in net income (loss) of affiliates | (2) | (1) | (20) | 152 |
Income Before Income Taxes | 7,974 | 6,050 | 20,583 | 18,474 |
Reconciling Items [Member] | Corporate and Other [Member] | ||||
Segment Reporting Reconciling Item For Operating Income (Loss) From Segment To Consolidated Statements Of Income [Line Items] | ||||
Operating Income (Loss) | (2) | (106) | 152 | 140 |
Reconciling Items [Member] | Merger and intergration charges [Member] | ||||
Segment Reporting Reconciling Item For Operating Income (Loss) From Segment To Consolidated Statements Of Income [Line Items] | ||||
Operating Income (Loss) | (696) | (213) | (1,689) | (403) |
Reconciling Items [Member] | Amortization of intangibles acquired [Member] | ||||
Segment Reporting Reconciling Item For Operating Income (Loss) From Segment To Consolidated Statements Of Income [Line Items] | ||||
Operating Income (Loss) | (1,198) | (125) | (1,439) | (378) |
Reconciling Items [Member] | Employee separate charges [Member] | ||||
Segment Reporting Reconciling Item For Operating Income (Loss) From Segment To Consolidated Statements Of Income [Line Items] | ||||
Operating Income (Loss) | (122) | 0 | (339) | 0 |
Reconciling Items [Member] | Other (expense) credits [Member] | ||||
Segment Reporting Reconciling Item For Operating Income (Loss) From Segment To Consolidated Statements Of Income [Line Items] | ||||
Operating Income (Loss) | (35) | 0 | (35) | 0 |
Reconciling Items [Member] | Less: segment equity in net income (loss) of affiliates [Member] | ||||
Segment Reporting Reconciling Item For Operating Income (Loss) From Segment To Consolidated Statements Of Income [Line Items] | ||||
Operating Income (Loss) | $ 2 | $ 1 | $ 20 | $ (152) |
Pension And Postretirement Be37
Pension And Postretirement Benefits (Narrative) (Details) - USD ($) $ in Millions | Mar. 31, 2015 | Jun. 30, 2015 | Dec. 31, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | Dec. 31, 2015 | Dec. 31, 2013 |
Defined Benefit Plan Disclosure [Line Items] | |||||||||
Combined net pension and postretirement cost increase (decrease) | $ (170) | $ (518) | |||||||
Net supplemental retirement pension benefits costs | 22 | $ 29 | 63 | $ 87 | |||||
Net supplemental retirement pension benefits costs - interest cost | 20 | $ 27 | $ 57 | $ 82 | |||||
DIRECTV [Member] | |||||||||
Defined Benefit Plan Disclosure [Line Items] | |||||||||
Defined Benefit Plans, General Information | DIRECTV maintains (1) a postretirement benefit plan for those retirees eligible to participate in health care and life insurance benefits generally until they reach age 65 and (2) an unfunded nonqualified pension plan for certain eligible employees. | ||||||||
Change in Accounting Method Accounted for as Change in Estimate [Member] | |||||||||
Defined Benefit Plan Disclosure [Line Items] | |||||||||
Combined net pension and postretirement cost increase (decrease) | (223) | $ (669) | |||||||
Pension Benefit [Member] | |||||||||
Defined Benefit Plan Disclosure [Line Items] | |||||||||
Pension Contribution Date | Dec. 31, 2013 | ||||||||
Required contribution to pension plans | $ 175 | 420 | $ 560 | ||||||
Annualized cash distributions to be received by the trust/pension | 175 | ||||||||
Value of entity's noncash contribution to it's defined benefit plans | $ 8,838 | 8,838 | |||||||
Pension Benefit [Member] | December 2014 Lump Sum Payment Offer [Member] | |||||||||
Defined Benefit Plan Disclosure [Line Items] | |||||||||
Period offer presented to retirement-eligible employees to receive a one-time opportunity to elect a full lump sum payment of their accrued pension | Dec. 31, 2014 | ||||||||
Approximate lump sum value of early retirement offer expected to be paid in next 12 months | $ 1,200 | ||||||||
Special Termination Benefit | $ 150 | ||||||||
Date at which retirees must accept lump sum payment offer | Mar. 31, 2015 |
Pension And Postretirement Be38
Pension And Postretirement Benefits (Pension And Postretirement Benefit Costs Included In Operating Expenses) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Defined Benefit Plan Disclosure [Line Items] | ||||
Net (credit) cost | $ (203) | $ (33) | $ (616) | $ (98) |
Pension Benefit [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost - benefits earned during the period | 305 | 282 | 904 | 846 |
Interest cost on benefit obligation | 477 | 661 | 1,424 | 1,984 |
Expected return on assets | (832) | (849) | (2,484) | (2,549) |
Amortization of prior service credit | (25) | (24) | (77) | (71) |
Net (credit) cost | (75) | 70 | (233) | 210 |
Postretirement Benefit [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost - benefits earned during the period | 55 | 59 | 166 | 175 |
Interest cost on benefit obligation | 242 | 365 | 725 | 1,094 |
Expected return on assets | (105) | (165) | (315) | (491) |
Amortization of prior service credit | (320) | (362) | (959) | (1,086) |
Net (credit) cost | $ (128) | $ (103) | $ (383) | $ (308) |
Fair Value Measurements And D39
Fair Value Measurements And Disclosure (Narrative) (Details) - USD ($) $ in Millions | Sep. 30, 2015 | Dec. 31, 2014 |
Fair Value Disclosures [Abstract] | ||
Fixed income investments - maturities less than 1 year | $ 93 | |
Fixed income investments - maturities within 1 to 3 years | 379 | |
Fixed income investments - maturities within 3 to 5 years | 52 | |
Fixed income investments - maturities for 5 or more years | 213 | |
Anticipated reclassification of holding losses during the next 12 months - cash flow hedges | 59 | |
Fair Value Disclosures [Line Items] | ||
Collateral received from counterparty | 379 | $ 599 |
Collateral submitted to counterparty | 1,807 | $ 530 |
Collateral contingently payable to the counterparty | 105 | |
DIRECTV [Member] | ||
Fair Value Disclosures [Line Items] | ||
Collateral contingently payable to the counterparty | $ 92 |
Fair Value Measurements And D40
Fair Value Measurements And Disclosure (Long-Term Debt And Other Financial Instruments) (Details) - USD ($) $ in Millions | Sep. 30, 2015 | Dec. 31, 2014 |
Carrying Amount [Member] | ||
Schedule of Fair Value of Separate Accounts by Major Category of Investment [Line Items] | ||
Notes and debentures | $ 126,042 | $ 81,632 |
Bank borrowings | 4 | 5 |
Investment securities | 2,644 | 2,735 |
Fair Value [Member] | ||
Schedule of Fair Value of Separate Accounts by Major Category of Investment [Line Items] | ||
Bank borrowings | 4 | 5 |
Investment securities | 2,644 | 2,735 |
Fair Value [Member] | Level 2 [Member] | ||
Schedule of Fair Value of Separate Accounts by Major Category of Investment [Line Items] | ||
Notes and debentures | $ 129,524 | $ 90,367 |
Fair Value Measurements And D41
Fair Value Measurements And Disclosure (Fair Value Leveling) (Details) - USD ($) $ in Millions | Sep. 30, 2015 | Dec. 31, 2014 |
Interest Rate Swaps [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Asset Derivatives (at fair value) | $ 217 | $ 157 |
Cross-Currency Swaps [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Asset Derivatives (at fair value) | 796 | 1,243 |
Liability Derivatives (at fair value) | (3,202) | (1,506) |
Interest Rate Locks [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Asset Derivatives (at fair value) | 5 | |
Liability Derivatives (at fair value) | (133) | |
Foreign Exchange Contracts [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Liability Derivatives (at fair value) | (1) | |
Domestic Equities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-Sale Securities (at fair value) | 1,094 | 1,160 |
International Equities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-Sale Securities (at fair value) | 561 | 553 |
Fixed Income Bonds [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-Sale Securities (at fair value) | 737 | 836 |
Level 1 [Member] | Interest Rate Swaps [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Asset Derivatives (at fair value) | 0 | 0 |
Level 1 [Member] | Cross-Currency Swaps [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Asset Derivatives (at fair value) | 0 | 0 |
Liability Derivatives (at fair value) | 0 | 0 |
Level 1 [Member] | Interest Rate Locks [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Asset Derivatives (at fair value) | 0 | |
Liability Derivatives (at fair value) | 0 | |
Level 1 [Member] | Foreign Exchange Contracts [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Liability Derivatives (at fair value) | 0 | |
Level 1 [Member] | Domestic Equities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-Sale Securities (at fair value) | 1,094 | 1,160 |
Level 1 [Member] | International Equities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-Sale Securities (at fair value) | 561 | 553 |
Level 1 [Member] | Fixed Income Bonds [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-Sale Securities (at fair value) | 0 | 0 |
Level 2 [Member] | Interest Rate Swaps [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Asset Derivatives (at fair value) | 217 | 157 |
Level 2 [Member] | Cross-Currency Swaps [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Asset Derivatives (at fair value) | 796 | 1,243 |
Liability Derivatives (at fair value) | (3,202) | (1,506) |
Level 2 [Member] | Interest Rate Locks [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Asset Derivatives (at fair value) | 5 | |
Liability Derivatives (at fair value) | (133) | |
Level 2 [Member] | Foreign Exchange Contracts [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Liability Derivatives (at fair value) | (1) | |
Level 2 [Member] | Domestic Equities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-Sale Securities (at fair value) | 0 | 0 |
Level 2 [Member] | International Equities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-Sale Securities (at fair value) | 0 | 0 |
Level 2 [Member] | Fixed Income Bonds [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-Sale Securities (at fair value) | 737 | 836 |
Level 3 [Member] | Interest Rate Swaps [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Asset Derivatives (at fair value) | 0 | 0 |
Level 3 [Member] | Cross-Currency Swaps [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Asset Derivatives (at fair value) | 0 | 0 |
Liability Derivatives (at fair value) | 0 | 0 |
Level 3 [Member] | Interest Rate Locks [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Asset Derivatives (at fair value) | 0 | |
Liability Derivatives (at fair value) | 0 | |
Level 3 [Member] | Foreign Exchange Contracts [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Liability Derivatives (at fair value) | 0 | |
Level 3 [Member] | Domestic Equities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-Sale Securities (at fair value) | 0 | 0 |
Level 3 [Member] | International Equities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-Sale Securities (at fair value) | 0 | 0 |
Level 3 [Member] | Fixed Income Bonds [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-Sale Securities (at fair value) | $ 0 | $ 0 |
Fair Value Measurements And D42
Fair Value Measurements And Disclosure (Notional Amount Of Our Outstanding Derivative Positions) (Details) - USD ($) $ in Millions | Sep. 30, 2015 | Dec. 31, 2014 |
Derivative [Line Items] | ||
Notional Amount of Outstanding Derivative Positions | $ 36,715 | $ 39,805 |
Interest Rate Swaps [Member] | ||
Derivative [Line Items] | ||
Notional Amount of Outstanding Derivative Positions | 7,050 | 6,550 |
Cross-Currency Swaps [Member] | ||
Derivative [Line Items] | ||
Notional Amount of Outstanding Derivative Positions | 29,642 | 26,505 |
Interest Rate Locks [Member] | ||
Derivative [Line Items] | ||
Notional Amount of Outstanding Derivative Positions | 0 | 6,750 |
Foreign Exchange Contracts [Member] | ||
Derivative [Line Items] | ||
Notional Amount of Outstanding Derivative Positions | $ 23 | $ 0 |
Fair Value Measurements And D43
Fair Value Measurements And Disclosure (Effect Of Derivatives On The Consolidated Statements Of Income) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Fair Value Hedging Relationships [Member] | Interest Rate Swaps [Member] | Interest expense [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gain (Loss) on interest rate swaps | $ 54 | $ (70) | $ 65 | $ (59) |
Gain (Loss) on long-term debt | (54) | 70 | (65) | 59 |
Cash Flow Hedging Relationships [Member] | Cross-Currency Swaps [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gain (Loss) recognized in accumulated OCI | (678) | 567 | (1,008) | 418 |
Cash Flow Hedging Relationships [Member] | Interest Rate Locks [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gain (Loss) recognized in accumulated OCI | 0 | 0 | (361) | 0 |
Interest income (expense) reclassified from accumulated OCI into income | (17) | (11) | (43) | (33) |
Cash Flow Hedging Relationships [Member] | Foreign Exchange Contracts [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gain (Loss) recognized in accumulated OCI | $ 0 | $ 0 | $ 0 | $ (2) |
Acquisitions, Dispositions An44
Acquisitions, Dispositions And Other Adjustments (Narrative) (Details) - USD ($) $ / shares in Units, $ in Millions | Jul. 24, 2015 | Jun. 30, 2015 | Apr. 30, 2015 | Jan. 16, 2015 | Jan. 31, 2015 | Oct. 31, 2014 | Sep. 30, 2015 | Mar. 31, 2015 | Sep. 30, 2014 | Jun. 30, 2015 | Sep. 30, 2015 | Sep. 30, 2014 |
Acquisition and Dispositions [Line Items] | ||||||||||||
Acquisition of business - anticipated or actual cash paid to seller | $ 30,694 | $ 2,053 | ||||||||||
Revenue for Venuezuela using SICAD exchange rate | $ 39,091 | $ 32,957 | 104,682 | 98,008 | ||||||||
Operating profit for Venuezuela using SICAD exchange rate | $ 12,188 | $ 10,146 | $ 32,792 | $ 31,387 | ||||||||
DIRECTV [Member] | ||||||||||||
Acquisition and Dispositions [Line Items] | ||||||||||||
Long-term Debt, Fair Value | $ 20,500 | |||||||||||
DIRECTV [Member] | Acquisition [Member] | ||||||||||||
Acquisition and Dispositions [Line Items] | ||||||||||||
Acquisition of business - anticipated or actual acquisition period | Jul. 24, 2015 | |||||||||||
Acquisition of business - approximate acquisition value | $ 47,404 | |||||||||||
Acquisition of business - cash payment to acquire assets | $ 14,378 | |||||||||||
Acquisition of business - cash payment to acquire assets (in US dollars per share) | $ 28.50 | |||||||||||
Acquisition of business - noncash consideration | 1.892 shares of AT&T stock per share of DIRECTV for 954,407,524 shares issued to DIRECTV shareholders for an approximate 16% stake in the combined company | |||||||||||
Acquisition of business - value of noncash consideration given (in millions) | $ 32,727 | |||||||||||
Acquisition of business - value of noncash consideration (in US dollars per share) | $ 34.29 | |||||||||||
Acquisition of business - noncash consideration given number of shares | 954,407,524 | |||||||||||
Acquisition of business - percentage ownership of combined company held by former shareholders of acquiree | 16.00% | |||||||||||
Acquisition of business - value of shared-based payment arrangements given (in millions) | $ 299 | |||||||||||
Impairment charge related to Venuzuelan change in exchange rate | $ 1,060 | |||||||||||
Revenue for Venuezuela using SICAD exchange rate | $ 500 | |||||||||||
Operating profit for Venuezuela using SICAD exchange rate | $ 180 | |||||||||||
FCC Auction 97 [Member] | Acquisition [Member] | Spectrum Licenses [Member] | ||||||||||||
Acquisition and Dispositions [Line Items] | ||||||||||||
Acquisition of assets - anticipated or actual acquisition date | Jan. 31, 2015 | |||||||||||
Acquisition of intangible assets through a group purchase - value/amount of assets acquired | $ 18,189 | |||||||||||
License Purchase Agreement Description | 251 Advanced Wireless Service (AWS) spectrum | |||||||||||
Payments To Acquire Intangible Assets | $ 921 | $ 17,268 | ||||||||||
GSF Telecom Holdings [Member] | Acquisition [Member] | ||||||||||||
Acquisition and Dispositions [Line Items] | ||||||||||||
Acquisition of assets - anticipated or actual acquisition date | Jan. 16, 2015 | |||||||||||
Acquistion of business - allocaton to debt, net of cash received by seller | $ 700 | |||||||||||
Acquisition of business - anticipated or actual cash paid to seller | 2,500 | |||||||||||
GSF Telecom Holdings [Member] | Acquisition [Member] | Property, Plant and Equipment [Member] | ||||||||||||
Acquisition and Dispositions [Line Items] | ||||||||||||
Acquisition of business - preliminary value/amount of assets acquired | 712 | |||||||||||
GSF Telecom Holdings [Member] | Acquisition [Member] | Customer lists and relationships [Member] | ||||||||||||
Acquisition and Dispositions [Line Items] | ||||||||||||
Acquisition of intangible assets - value/amount of assets acquired | 311 | |||||||||||
GSF Telecom Holdings [Member] | Acquisition [Member] | Goodwill [Member] | ||||||||||||
Acquisition and Dispositions [Line Items] | ||||||||||||
Acquisition of intangible assets - value/amount of assets acquired | 1,124 | |||||||||||
GSF Telecom Holdings [Member] | Acquisition [Member] | Spectrum Licenses [Member] | ||||||||||||
Acquisition and Dispositions [Line Items] | ||||||||||||
Acquisition of intangible assets - value/amount of assets acquired | 920 | |||||||||||
GSF Telecom Holdings [Member] | Acquisition [Member] | Trade Names [Member] | ||||||||||||
Acquisition and Dispositions [Line Items] | ||||||||||||
Acquisition of intangible assets - value/amount of assets acquired | $ 26 | |||||||||||
Nextel Mexico [Member] | Acquisition [Member] | ||||||||||||
Acquisition and Dispositions [Line Items] | ||||||||||||
Acquisition of business - anticipated or actual acquisition period | Apr. 30, 2015 | |||||||||||
Acquistion of business - allocaton to debt, net of cash received by seller | $ 427 | |||||||||||
Acquisition of business - anticipated or actual cash paid to seller | 1,875 | |||||||||||
Nextel Mexico [Member] | Acquisition [Member] | Property, Plant and Equipment [Member] | ||||||||||||
Acquisition and Dispositions [Line Items] | ||||||||||||
Acquisition of business - preliminary value/amount of assets acquired | 1,391 | |||||||||||
Nextel Mexico [Member] | Acquisition [Member] | Customer lists and relationships [Member] | ||||||||||||
Acquisition and Dispositions [Line Items] | ||||||||||||
Acquisition of intangible assets - value/amount of assets acquired | 65 | |||||||||||
Nextel Mexico [Member] | Acquisition [Member] | Goodwill [Member] | ||||||||||||
Acquisition and Dispositions [Line Items] | ||||||||||||
Acquisition of intangible assets - value/amount of assets acquired | 414 | |||||||||||
Nextel Mexico [Member] | Acquisition [Member] | Spectrum Licenses [Member] | ||||||||||||
Acquisition and Dispositions [Line Items] | ||||||||||||
Acquisition of intangible assets - value/amount of assets acquired | $ 376 |
Acquisitions, Dispositions An45
Acquisitions, Dispositions And Other Adjustments (Fair Value of Assets Acquired And Liabilities Assumed) (Details) - USD ($) $ in Millions | Sep. 30, 2015 | Jul. 24, 2015 | Dec. 31, 2014 | Dec. 31, 2013 |
Assets acquired | ||||
Goodwill | $ 105,966 | $ 69,692 | $ 69,273 | |
DIRECTV [Member] | ||||
Assets acquired | ||||
Cash | $ 4,763 | |||
Accounts Receivable | 2,116 | |||
All other current assets | 1,795 | |||
Property, plant and equipment (including satellites) | 8,811 | |||
Investments and other assets | 3,730 | |||
Goodwill | 35,343 | |||
Total assets acquired | 91,636 | |||
Liabilities assumed | ||||
Current liabilities, excluding current portion of long-term debt | 5,886 | |||
Long-term debt | 20,500 | |||
Other noncurrent liabilities | 17,492 | |||
Total liabilities assumed | 43,878 | |||
Net assets acquired | 47,758 | |||
Noncontrolling interest | (354) | |||
Aggregate value of consideration paid | 47,404 | |||
DIRECTV [Member] | Customer lists and relationships [Member] | ||||
Assets acquired | ||||
Intangible assets subject to amortization | 19,803 | |||
DIRECTV [Member] | Other [Member] | ||||
Assets acquired | ||||
Intangible assets subject to amortization | 324 | |||
DIRECTV [Member] | Orbital Slots [Member] | ||||
Assets acquired | ||||
Intangible assets not subject to amortization | 11,946 | |||
DIRECTV [Member] | United States [Member] | Trade Names [Member] | ||||
Assets acquired | ||||
Intangible assets subject to amortization | 1,634 | |||
DIRECTV [Member] | Latin America [Member] | Trade Names [Member] | ||||
Assets acquired | ||||
Intangible assets not subject to amortization | $ 1,371 |
Acquisitions, Dispositions An46
Acquisitions, Dispositions And Other Adjustments (Pro-Forma Consolidated Results Of Operations) (Details) - USD ($) $ / shares in Units, $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Business Acquisition Pro Forma Information [Line Items] | ||||
Total operating revenues | $ 41,230 | $ 41,301 | $ 123,346 | $ 122,263 |
Net Income Attributable to AT&T | $ 2,985 | $ 3,429 | $ 9,210 | $ 11,065 |
Basic Earnings Per Share Attributable to AT&T | $ 0.50 | $ 0.56 | $ 1.69 | $ 1.80 |
Diluted Earnings Per Share Attributable to AT&T | $ 0.50 | $ 0.55 | $ 1.69 | $ 1.79 |
Goodwill (Details)
Goodwill (Details) - USD ($) $ in Millions | 9 Months Ended | 12 Months Ended |
Sep. 30, 2015 | Dec. 31, 2014 | |
Goodwill [Line Items] | ||
Beginning Balance | $ 69,692 | $ 69,273 |
Goodwill Acquired | 36,887 | 367 |
Foreign Currency Translation Adjustment | (610) | |
Allocation of Goodwill | 0 | |
Other | (3) | 52 |
Ending Balance | 105,966 | 69,692 |
Wireless [Member] | ||
Goodwill [Line Items] | ||
Beginning Balance | 36,469 | 36,106 |
Goodwill Acquired | 6 | 367 |
Foreign Currency Translation Adjustment | 0 | |
Allocation of Goodwill | (36,471) | |
Other | (4) | (4) |
Ending Balance | 0 | 36,469 |
Wireline [Member] | ||
Goodwill [Line Items] | ||
Beginning Balance | 33,223 | 33,167 |
Goodwill Acquired | 0 | 0 |
Foreign Currency Translation Adjustment | 0 | |
Allocation of Goodwill | (33,226) | |
Other | 3 | 56 |
Ending Balance | 0 | 33,223 |
Business Solutions [Member] | ||
Goodwill [Line Items] | ||
Beginning Balance | 0 | 0 |
Goodwill Acquired | 0 | 0 |
Foreign Currency Translation Adjustment | 0 | |
Allocation of Goodwill | 44,763 | |
Other | 0 | 0 |
Ending Balance | 44,763 | 0 |
Entertainment And Internet Services [Member] | ||
Goodwill [Line Items] | ||
Beginning Balance | 0 | 0 |
Goodwill Acquired | 31,653 | 0 |
Foreign Currency Translation Adjustment | 0 | |
Allocation of Goodwill | 8,422 | |
Other | 0 | 0 |
Ending Balance | 40,075 | 0 |
Consumer Mobility [Member] | ||
Goodwill [Line Items] | ||
Beginning Balance | 0 | 0 |
Goodwill Acquired | 0 | 0 |
Foreign Currency Translation Adjustment | 0 | |
Allocation of Goodwill | 16,512 | |
Other | 0 | 0 |
Ending Balance | 16,512 | 0 |
International [Member] | ||
Goodwill [Line Items] | ||
Beginning Balance | 0 | 0 |
Goodwill Acquired | 5,228 | 0 |
Foreign Currency Translation Adjustment | (610) | |
Allocation of Goodwill | 0 | |
Other | (2) | 0 |
Ending Balance | $ 4,616 | $ 0 |
Sale Of Equipment Installment48
Sale Of Equipment Installment Receivables (Narrative) (Details) - USD ($) $ in Millions | Jun. 27, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Dec. 31, 2014 |
Changes In Other Assets [Line Items] | |||||||
Sale of equipment installment receivables - agreement date | Jun. 27, 2014 | ||||||
Sale of equipment installment receivables - cash proceeds | $ 980 | $ 556 | $ 3,553 | $ 1,375 | |||
Deferred purchase price recorded | 456 | 324 | 1,819 | 889 | |||
Other Assets - current | 11,254 | 11,254 | $ 11,254 | $ 9,802 | |||
Other Assets - noncurrent | 13,585 | 13,585 | 13,585 | 13,659 | |||
Selling, general and administrative | 9,107 | 8,475 | 24,535 | 24,932 | |||
Deferred Purchase Price [Member] | |||||||
Changes In Other Assets [Line Items] | |||||||
Other Assets | 2,869 | 2,869 | 2,869 | 1,606 | |||
Other Assets - current | 1,676 | $ 1,676 | 1,676 | ||||
Other Assets - noncurrent | 1,606 | ||||||
Reduction of current deferred purchase price receivable for repurchase | 314 | ||||||
Deferred Purchase Price [Member] | Collections on behalf of purchaser [Member] | |||||||
Changes In Other Assets [Line Items] | |||||||
Purchasers for receivables sold | 421 | ||||||
Deferred Purchase Price [Member] | Remittances to Purchaser [Member] | |||||||
Changes In Other Assets [Line Items] | |||||||
Purchasers for receivables sold | 421 | ||||||
Finance Receivables [Member] | |||||||
Changes In Other Assets [Line Items] | |||||||
Equipment installment sales - maximum installment period (in months) | 30 months | ||||||
Receivables sold during period | 1,601 | 1,028 | $ 5,964 | 2,665 | |||
Other Assets | 4,428 | 4,428 | 4,428 | 4,265 | |||
Selling, general and administrative | (98) | ||||||
Gain on repurchase of finance receivables | 98 | ||||||
Repurchased installment receivables previously sold to the Purchasers | 412 | ||||||
Finance Receivables [Member] | Collections on behalf of purchaser [Member] | |||||||
Changes In Other Assets [Line Items] | |||||||
Purchasers for receivables sold | 3,394 | ||||||
Finance Receivables [Member] | Remittances to Purchaser [Member] | |||||||
Changes In Other Assets [Line Items] | |||||||
Purchasers for receivables sold | 3,394 | ||||||
Finance Receivables [Member] | Notes Receivable [Member] | |||||||
Changes In Other Assets [Line Items] | |||||||
Gross equipment installment receivables balance - current | 2,690 | 2,690 | $ 2,690 | $ 2,514 | |||
Finance Receivables, Net [Member] | |||||||
Changes In Other Assets [Line Items] | |||||||
Receivables sold during period | $ 1,431 | $ 885 | $ 5,367 | $ 2,276 |
Sale Of Equipment Installment49
Sale Of Equipment Installment Receivables (Finance Receivables) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Changes In Other Assets [Line Items] | ||||
Cash proceeds received | $ 980 | $ 556 | $ 3,553 | $ 1,375 |
Deferred purchase price recorded | 456 | 324 | 1,819 | 889 |
Finance Receivables [Member] | ||||
Changes In Other Assets [Line Items] | ||||
Receivables sold during period | 1,601 | 1,028 | 5,964 | 2,665 |
Finance Receivables Net [Member] | ||||
Changes In Other Assets [Line Items] | ||||
Receivables sold during period | $ 1,431 | $ 885 | $ 5,367 | $ 2,276 |