AT&T (T) 8-K Consolidated Statements of Income

AT&T Inc.
Financial Data
Consolidated Statements of Income
Dollars in millions except per share amounts
Unaudited	First Quarter				Percent
		2020		2019	Change
Operating Revenues
Service	$	38,883	$	40,684	(4.4)	%
Equipment		3,896		4,143	(6.0)	%
Total Operating Revenues		42,779		44,827	(4.6)	%
Operating Expenses
Cost of revenues
Equipment		4,092		4,502	(9.1)	%
Broadcast, programming and operations		6,847		7,652	(10.5)	%
Other cost of revenues (exclusive of depreciation           and amortization shown separately below)		8,342		8,585	(2.8)	%
Selling, general and administrative		8,790		9,649	(8.9)	%
Depreciation and amortization		7,222		7,206	0.2	%
Total Operating Expenses		35,293		37,594	(6.1)	%
Operating Income		7,486		7,233	3.5	%
Interest Expense		2,018		2,141	(5.7)	%
Equity in Net Income (Loss) of Affiliates		(6)		(7)	14.3	%
Other Income (Expense) - Net		803		286	-	%
Income Before Income Taxes		6,265		5,371	16.6	%
Income Tax Expense		1,302		1,023	27.3	%
Net Income		4,963		4,348	14.1	%
Less: Net Income Attributable to     Noncontrolling Interest		(353)		(252)	(40.1)	%
Net Income Attributable to AT&T	$	4,610	$	4,096	12.5	%
Less: Preferred Stock Dividends		(32)		-	-	%
Net Income Attributable to Common Stock	$	4,578	$	4,096	11.8	%
Basic Earnings Per Share Attributable to     Common Stock	$	0.63	$	0.56	12.5	%
Weighted Average Common     Shares Outstanding (000,000)		7,187		7,313	(1.7)	%
Diluted Earnings Per Share Attributable to     Common Stock	$	0.63	$	0.56	12.5	%
Weighted Average Common      Shares Outstanding with Dilution (000,000)		7,214		7,342	(1.7)	%

1

AT&T Inc.
Financial Data
Consolidated Balance Sheets
Dollars in millions
Unaudited		Mar. 31,		Dec. 31,
		2020		2019
Assets
Current Assets
Cash and cash equivalents	$	9,955	$	12,130
Accounts receivable - net of allowances for doubtful accounts of $1,651 and $1,235		19,908		22,636
Prepaid expenses		1,600		1,631
Other current assets		21,241		18,364
Total current assets		52,704		54,761
Noncurrent Inventories and Theatrical Film and Television Production Costs		13,276		12,434
Property, Plant and Equipment – Net		128,921		130,128
Goodwill		145,546		146,241
Licenses – Net		96,662		97,907
Trademarks and Trade Names – Net		23,293		23,567
Distribution Networks – Net		14,886		15,345
Other Intangible Assets – Net		19,623		20,798
Investments in and Advances to Equity Affiliates		3,606		3,695
Operating Lease Right-of-Use Assets		24,008		24,039
Other Assets		22,829		22,754
Total Assets	$	545,354	$	551,669
Liabilities and Stockholders’ Equity
Current Liabilities
Debt maturing within one year	$	17,067	$	11,838
Accounts payable and accrued liabilities		40,771		45,956
Advanced billings and customer deposits		5,960		6,124
Accrued taxes		2,169		1,212
Dividends payable		3,737		3,781
Total current liabilities		69,704		68,911
Long-Term Debt		147,202		151,309
Deferred Credits and Other Noncurrent Liabilities
Deferred income taxes		58,491		59,502
Postemployment benefit obligation		18,324		18,788
Operating lease liabilities		21,584		21,804
Other noncurrent liabilities		34,600		29,421
Total deferred credits and other noncurrent liabilities		132,999		129,515
Stockholders’ Equity
Preferred stock		-		-
Common stock		7,621		7,621
Additional paid-in capital		129,966		126,279
Retained earnings		58,534		57,936
Treasury stock		(17,957)		(13,085)
Accumulated other comprehensive income		(385)		5,470
Noncontrolling interest		17,670		17,713
Total stockholders’ equity		195,449		201,934
Total Liabilities and Stockholders' Equity	$	545,354	$	551,669

2

AT&T Inc.
Financial Data
Consolidated Statements of Cash Flows
Dollars in millions
Unaudited		First Quarter
			2020		2019
Operating Activities
Net income		$	4,963	$	4,348
Adjustments to reconcile net income to net cash provided by operating activities:
	Depreciation and amortization		7,222		7,206
	Amortization of film and television costs		2,269		2,497
	Undistributed earnings from investments in equity affiliates		39		112
	Provision for uncollectible accounts		780		592
	Deferred income tax expense (benefit)		259		753
	Net (gain) loss on investments, net of impairments		(646)		(175)
	Pension and postiretirement benefit expense (credit)		(748)		(369)
	Actuarial (gain) loss on pension and postretirement benefits		-		432
Changes in operating assets and liabilities:
	Receivables		1,695		2,125
	Other current assets, inventories and theatrical film and television production costs		(3,267)		(2,510)
	Accounts payable and other accrued liabilities		(3,884)		(3,686)
	Equipment installment receivables and related sales		535		652
	Deferred customer contract acquisition and fulfillment costs		105		(375)
Postretirement claims and contributions			(111)		(193)
Other - net			(345)		(357)
Total adjustments			3,903		6,704
Net Cash Provided by Operating Activities			8,866		11,052
Investing Activities
Capital expenditures:
	Purchase of property and equipment		(4,938)		(5,121)
	Interest during construction		(28)		(61)
Acquisitions, net of cash acquired			(100)		(117)
Dispositions			118		10
(Purchases), sales and settlement of securities and investments, net			(6)		(1)
Advances to and investments in equity affiliates, net			(68)		(111)
Net Cash Used in Investing Activities			(5,022)		(5,401)
Financing Activities
Net change in short-term borrowings with original maturities of three months or less			1,742		(256)
Issuance of other short-term borrowings			1,390		296
Repayment of other short-term borrowings			-		(176)
Issuance of long-term debt			4,357		9,182
Repayment of long-term debt			(4,422)		(9,840)
Payment of vendor financing			(791)		(819)
Issuance of preferred stock			3,869		-
Purchase of treasury stock			(5,463)		(189)
Issuance of treasury stock			58		167
Dividends paid			(3,737)		(3,714)
Other			(3,102)		928
Net Cash Used in Financing Activities			(6,099)		(4,421)
Net (decrease) increase in cash and cash equivalents and restricted cash			(2,255)		1,230
Cash and cash equivalents and restricted cash beginning of year			12,295		5,400
Cash and Cash Equivalents and Restricted Cash End of Period		$	10,040	$	6,630

3

AT&T Inc.
Consolidated Supplementary Data
Supplementary Financial Data
Dollars in millions except per share amounts
Unaudited		First Quarter					Percent
			2020		2019		Change
Capital expenditures
	Purchase of property and equipment	$	4,938	$	5,121		(3.6)	%
	Interest during construction		28		61		(54.1)	%
Total Capital Expenditures		$	4,966	$	5,182		(4.2)	%
Dividends Declared per Common Share		$	0.52	$	0.51		2.0	%
End of Period Common Shares Outstanding (000,000)			7,125		7,297		(2.4)	%
Debt Ratio			45.7	%	47.4	%	(170)	BP
Total Employees			244,490		262,290		(6.8)	%
Supplementary Operating Data
Subscribers and connections in thousands
Unaudited		March 31,					Percent
			2020		2019		Change
Broadband Connections
	IP		14,627		14,852		(1.5)	%
	DSL		688		885		(22.3)	%
Total Broadband Connections			15,315		15,737		(2.7)	%
Voice Connections
	Network Access Lines		8,160		9,587		(14.9)	%
	U-verse VoIP Connections		4,213		4,935		(14.6)	%
Total Retail Voice Connections			12,373		14,522		(14.8)	%
		First Quarter					Percent
			2020		2019		Change
Broadband Net Additions
	IP		(32)		100		-	%
	DSL		(42)		(64)		34.4	%
Total Broadband Net Additions			(74)		36		-	%

4

COMMUNICATIONS SEGMENT
The Communications segment provides wireless and wireline telecom, video and broadband services to consumers located in the U.S. and businesses globally. The Communications segment contains three reporting units: Mobility, Entertainment Group, and Business Wireline.
Segment Results
Dollars in millions
Unaudited		First Quarter				Percent
			2020		2019	Change
Segment Operating Revenues
	Mobility	$	17,402	$	17,363	0.2	%
	Entertainment Group		10,515		11,328	(7.2)	%
	Business Wireline		6,332		6,478	(2.3)	%
Total Segment Operating Revenues			34,249		35,169	(2.6)	%
Segment Operating Contribution
	Mobility		5,788		5,309	9.0	%
	Entertainment Group		1,335		1,478	(9.7)	%
	Business Wireline		1,080		1,224	(11.8)	%
Total Segment Operating Contribution		$	8,203	$	8,011	2.4	%

5

Mobility
Mobility provides nationwide wireless service and equipment.
Mobility Results
Dollars in millions
Unaudited	First Quarter					Percent
		2020		2019		Change
Operating Revenues
Service	$	13,968	$	13,629		2.5	%
Equipment		3,434		3,734		(8.0)	%
Total Operating Revenues		17,402		17,363		0.2	%
Operating Expenses
Operations and support		9,569		10,041		(4.7)	%
Depreciation and amortization		2,045		2,013		1.6	%
Total Operating Expenses		11,614		12,054		(3.7)	%
Operating Income		5,788		5,309		9.0	%
Equity in Net Income (Loss) of Affiliates		-		-		-	%
Operating Contribution	$	5,788	$	5,309		9.0	%
Operating Income Margin		33.3	%	30.6	%	270	BP
Supplementary Operating Data
Subscribers and connections in thousands
Unaudited	March 31,					Percent
		2020		2019		Change
Mobility Subscribers
Postpaid		75,148		75,737		(0.8)	%
Prepaid		17,808		17,012		4.7	%
Reseller		6,736		7,495		(10.1)	%
Connected Devices		69,506		54,426		27.7	%
Total Mobility Subscribers		169,198		154,670		9.4	%
Postpaid Phone Subscribers		63,105		62,830		0.4	%
Total Phone Subscribers		79,792		78,887		1.1	%
	First Quarter					Percent
		2020		2019		Change
Mobility Net Additions
Postpaid		27		(207)		-	%
Prepaid		(45)		101		-	%
Reseller		(190)		(242)		21.5	%
Connected Devices		3,518		3,088		13.9	%
Total Mobility Net Additions		3,310		2,740		20.8	%
Postpaid Phone Net Additions		163		79		-	%
Total Phone Net Additions		120		168		(28.6)	%
Postpaid Churn		1.08	%	1.16	%	(8)	BP
Postpaid Phone-Only Churn		0.86	%	0.92	%	(6)	BP

6

Entertainment Group
Entertainment Group provides video, including over-the-top (OTT) services, broadband and voice communication services primarily to residential customers. This business unit also sells advertising on video distribution platforms.
Entertainment Group Results
Dollars in millions
Unaudited	First Quarter					Percent
		2020		2019		Change
Operating Revenues
Video entertainment	$	7,395	$	8,074		(8.4)	%
High-speed internet		2,109		2,070		1.9	%
Legacy voice and data services		581		683		(14.9)	%
Other service and equipment		430		501		(14.2)	%
Total Operating Revenues		10,515		11,328		(7.2)	%
Operating Expenses
Operations and support		7,891		8,527		(7.5)	%
Depreciation and amortization		1,289		1,323		(2.6)	%
Total Operating Expenses		9,180		9,850		(6.8)	%
Operating Income		1,335		1,478		(9.7)	%
Equity in Net Income (Loss) of Affiliates		-		-		-	%
Operating Contribution	$	1,335	$	1,478		(9.7)	%
Operating Income Margin		12.7	%	13.0	%	(30)	BP
Supplementary Operating Data
Subscribers and connections in thousands
Unaudited	March 31,					Percent
		2020		2019		Change
Video Connections
Premium TV		18,576		22,359		(16.9)	%
AT&T TV Now		788		1,508		(47.7)	%
Total Video Connections		19,364		23,867		(18.9)	%
Broadband Connections
IP		13,554		13,822		(1.9)	%
DSL		492		632		(22.2)	%
Total Broadband Connections		14,046		14,454		(2.8)	%
Fiber Broadband Connections (included in IP)		4,096		3,060		33.9	%
Voice Connections
Retail Consumer Switched Access Lines		3,196		3,787		(15.6)	%
U-verse Consumer VoIP Connections		3,630		4,393		(17.4)	%
Total Retail Consumer Voice Connections		6,826		8,180		(16.6)	%
	First Quarter					Percent
		2020		2019		Change
Video Net Additions
Premium TV		(897)		(544)		(64.9)	%
AT&T TV Now		(138)		(83)		(66.3)	%
Total Video Net Additions		(1,035)		(627)		(65.1)	%
Broadband Net Additions
IP		(44)		93		-	%
DSL		(29)		(48)		39.6	%
Total Broadband Net Additions		(73)		45		-	%
Fiber Broadband Net Additions (included in IP)		209		297		(29.6)	%

7

Business Wireline
Business Wireline unit provides advanced IP-based services, as well as traditional data services to business customers.
Business Wireline Results
Dollars in millions
Unaudited		First Quarter					Percent
			2020		2019		Change
Operating Revenues
	Strategic and managed services	$	3,879	$	3,779		2.6	%
	Legacy voice and data services		2,129		2,397		(11.2)	%
	Other service and equipment		324		302		7.3	%
Total Operating Revenues			6,332		6,478		(2.3)	%
Operating Expenses
Operations and support			3,951		4,032		(2.0)	%
Depreciation and amortization			1,301		1,222		6.5	%
Total Operating Expenses			5,252		5,254		-	%
Operating Income			1,080		1,224		(11.8)	%
Equity in Net Income (Loss) of Affiliates			-		-		-	%
Operating Contribution		$	1,080	$	1,224		(11.8)	%
Operating Income Margin			17.1	%	18.9	%	(180)	BP

Business Solutions
As a supplemental presentation to our Communications segment operating results, we are providing a view of our AT&T Business Solutions results which includes both wireless and fixed operations. This combined view presents a complete profile of the entire business customer relationship and underscores the importance of mobile solutions to serving our business customers. Results have been recast to conform to the current period's classification of consumer and business wireless subscribers.
Business Solutions Results
Dollars in millions
Unaudited		First Quarter					Percent
			2020		2019		Change
Operating Revenues
	Wireless service	$	1,949	$	1,777		9.7	%
	Strategic and managed services		3,879		3,779		2.6	%
	Legacy voice and data services		2,129		2,397		(11.2)	%
	Other service and equipment		324		302		7.3	%
	Wireless equipment		710		590		20.3	%
Total Operating Revenues			8,991		8,845		1.7	%
Operating Expenses
Operations and support			5,710		5,614		1.7	%
Depreciation and amortization			1,625		1,525		6.6	%
Total Operating Expenses			7,335		7,139		2.7	%
Operating Income			1,656		1,706		(2.9)	%
Equity in Net Income (Loss) of Affiliates			-		-		-	%
Operating Contribution		$	1,656	$	1,706		(2.9)	%
Operating Income Margin			18.4	%	19.3	%	(90)	BP

8

WARNERMEDIA SEGMENT
The WarnerMedia segment develops, produces and distributes feature films, television, gaming and other content in various physical and digital formats globally. Results from Turner, Home Box Office and Warner Bros. businesses are combined with AT&T's Regional Sports Network (RSN) and Otter Media Holdings in the WarnerMedia segment.
Segment Results
Dollars in millions
Unaudited		First Quarter				Percent
			2020		2019	Change
Segment Operating Revenues
	Turner	$	3,162	$	3,443	(8.2)	%
	HBO		1,497		1,510	(0.9)	%
	Warner Bros.		3,240		3,518	(7.9)	%
	Eliminations and other		(540)		(92)	-	%
Total Segment Operating Revenues			7,359		8,379	(12.2)	%
Cost of revenues
	Turner		1,320		1,680	(21.4)	%
	HBO		816		670	21.8	%
	Warner Bros.		2,346		2,430	(3.5)	%
Selling, general and administrative			1,354		1,284	5.5	%
Eliminations and other			(319)		(71)	-	%
Depreciation and amortization			143		143	-	%
Total Operating Expenses			5,660		6,136	(7.8)	%
Operating Income			1,699		2,243	(24.3)	%
Equity in Net Income of Affiliates			15		67	(77.6)	%
Total Segment Operating Contribution		$	1,714	$	2,310	(25.8)	%

Turner
Turner creates and programs branded news, entertainment, sports and kids multi-platform content that is sold to various distribution affiliates. Turner also sells advertising on its networks and digital properties.
Turner Results
Dollars in millions
Unaudited		First Quarter					Percent
			2020		2019		Change
Operating Revenues
	Subscription	$	2,049	$	1,965		4.3	%
	Advertising		957		1,261		(24.1)	%
	Content and other		156		217		(28.1)	%
Total Operating Revenues			3,162		3,443		(8.2)	%
Operating Expenses
	Cost of revenues		1,320		1,680		(21.4)	%
	Selling, general and administrative		390		456		(14.5)	%
	Depreciation and amortization		69		60		15.0	%
Total Operating Expenses			1,779		2,196		(19.0)	%
Operating Income			1,383		1,247		10.9	%
Equity in Net Income of Affiliates			6		25		(76.0)	%
Operating Contribution		$	1,389	$	1,272		9.2	%
Operating Income Margin			43.7	%	36.2	%	750	BP

9

Home Box Office
Home Box Office consists of premium pay television and OTT services domestically and premium pay, basic tier television and OTT services internationally, as well as content licensing and home entertainment.
Home Box Office Results
Dollars in millions
Unaudited		First Quarter					Percent
			2020		2019		Change
Operating Revenues
	Subscription	$	1,338	$	1,334		0.3	%
	Content and other		159		176		(9.7)	%
Total Operating Revenues			1,497		1,510		(0.9)	%
Operating Expenses
	Cost of revenues		816		670		21.8	%
	Selling, general and administrative		237		251		(5.6)	%
	Depreciation and amortization		21		22		(4.5)	%
Total Operating Expenses			1,074		943		13.9	%
Operating Income			423		567		(25.4)	%
Equity in Net Income of Affiliates			20		15		33.3	%
Operating Contribution		$	443	$	582		(23.9)	%
Operating Income Margin			28.3	%	37.5	%	(920)	BP

Warner Bros.
Warner Bros. consists of the production, distribution and licensing of television programming and feature films, the distribution of home entertainment products and the production and distribution of games.
Warner Bros. Results
Dollars in millions
Unaudited		First Quarter					Percent
			2020		2019		Change
Operating Revenues
	Theatrical product	$	1,106	$	1,506		(26.6)	%
	Television product		1,769		1,613		9.7	%
	Video games and other		365		399		(8.5)	%
Total Operating Revenues			3,240		3,518		(7.9)	%
Operating Expenses
	Cost of revenues		2,346		2,430		(3.5)	%
	Selling, general and administrative		604		489		23.5	%
	Depreciation and amortization		41		52		(21.2)	%
Total Operating Expenses			2,991		2,971		0.7	%
Operating Income			249		547		(54.5)	%
Equity in Net Income (Loss) of Affiliates			(8)		6		-	%
Operating Contribution		$	241	$	553		(56.4)	%
Operating Income Margin			7.7	%	15.5	%	(780)	BP

10

LATIN AMERICA SEGMENT
The Latin America segment provides entertainment and wireless service outside of the U.S. Our international subsidiaries conduct business in their local currency and operating results are converted to U.S. dollars using official exchange rates. The Latin America segment contains two business units: Vrio and Mexico.
Segment Results
Dollars in millions
Unaudited		First Quarter				Percent
			2020		2019	Change
Segment Operating Revenues
	Vrio	$	887	$	1,067	(16.9)	%
	Mexico		703		651	8.0	%
Total Segment Operating Revenues			1,590		1,718	(7.5)	%
Segment Operating Contribution
	Vrio		(39)		32	-	%
	Mexico		(145)		(205)	29.3	%
Total Segment Operating Contribution		$	(184)	$	(173)	(6.4)	%

Mexico
Mexico provides wireless services and equipment to customers in Mexico.
Mexico Results
Dollars in millions
Unaudited	First Quarter					Percent
	2020		2019			Change
Operating Revenues
Wireless service	$	467	$	442		5.7	%
Wireless equipment		236		209		12.9	%
Total Operating Revenues		703		651		8.0	%
Operating Expenses
Operations and support		714		725		(1.5)	%
Depreciation and amortization		134		131		2.3	%
Total Operating Expenses		848		856		(0.9)	%
Operating Income (Loss)		(145)		(205)		29.3	%
Equity in Net Income of Affiliates		-		-		-	%
Operating Contribution	$	(145)	$	(205)		29.3	%
Operating Income Margin		(20.6)	%	(31.5)	%	1,090	BP
Supplementary Operating Data
Subscribers and connections in thousands
Unaudited	March 31,					Percent
	2020		2019			Change
Mexico Wireless Subscribers
Postpaid		4,962		5,642		(12.1)	%
Prepaid		13,692		11,779		16.2	%
Reseller		504		301		67.4	%
Total Mexico Wireless Subscribers		19,158		17,722		8.1	%
	First Quarter					Percent
	2020		2019			Change
Mexico Wireless Net Additions
Postpaid		(141)		(69)		-	%
Prepaid		108		114		(5.3)	%
Reseller		32		48		(33.3)	%
Total Mexico Wireless Net Subscriber Additions		(1)		93		-	%

11

Vrio
Vrio provides entertainment services to customers utilizing satellite technology in Latin America and the Caribbean.
Vrio Results
Dollars in millions
Unaudited	First Quarter					Percent
	2020		2019			Change
Operating Revenues	$	887	$	1,067		(16.9)	%
Operating Expenses
Operations and support		783		866		(9.6)	%
Depreciation and amortization		147		169		(13.0)	%
Total Operating Expenses		930		1,035		(10.1)	%
Operating Income		(43)		32		-	%
Equity in Net Income of Affiliates		4		-		-	%
Operating Contribution	$	(39)	$	32		-	%
Operating Income Margin		(4.8)	%	3.0	%	(780)	BP
Supplementary Operating Data
Subscribers and connections in thousands
Unaudited	March 31,					Percent
	2020		2019			Change
Vrio Video Subscribers		13,217		13,584		(2.7)	%
	First Quarter					Percent
	2020		2019			Change
Vrio Video Net Subscriber Additions		(114)		(32)		-	%

XANDR SEGMENT
The Xandr segment provides advertising services. These services utilize data insights to develop higher value targeted advertising. Certain revenues in this segment are also reported by the Communications segment and are eliminated upon consolidation.
Segment Operating Results
Dollars in millions
Unaudited	First Quarter					Percent
		2020		2019		Change
Segment Operating Revenues	$	489	$	426		14.8	%
Segment Operating Expenses
Operations and support		170		160		6.3	%
Depreciation and amortization		20		13		53.8	%
Total Segment Operating Expenses		190		173		9.8	%
Operating Income		299		253		18.2	%
Equity in Net Income of Affiliates		-		-		-	%
Segment Operating Contribution	$	299	$	253		18.2	%
Segment Operating Income Margin		61.1	%	59.4	%	170	BP

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Supplemental AT&T Advertising Revenues
As a supplemental presentation to our Xandr segment operating results, we are providing a view of total advertising revenues generated by AT&T, which combines the advertising revenues recorded across all operating segments. This combined view presents the entire portfolio of revenues generated from AT&T assets and represents a significant strategic initiative and growth opportunity for AT&T.
Advertising Revenues
Dollars in millions
Unaudited		First Quarter				Percent
			2020		2019	Change
Operating Revenues
	WarnerMedia	$	979	$	1,279	(23.5)	%
	Communications		489		417	17.3	%
	Xandr		489		426	14.8	%
	Eliminations		(413)		(350)	(18.0)	%
Total Advertising Revenues		$	1,544	$	1,772	(12.9)	%

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SUPPLEMENTAL SEGMENT RECONCILIATION
Three Months Ended
Dollars in millions
Unaudited
March 31, 2020
		Revenues		Operations and Support Expenses		EBITDA		Depreciation and Amortization		Operating Income (Loss)		Equity in Net Income (Loss) of Affiliates		Segment Contribution
Communications
Mobility	$	17,402	$	9,569	$	7,833	$	2,045	$	5,788	$	-	$	5,788
Entertainment Group		10,515		7,891		2,624		1,289		1,335		-		1,335
Business Wireline		6,332		3,951		2,381		1,301		1,080		-		1,080
Total Communications		34,249		21,411		12,838		4,635		8,203		-		8,203
WarnerMedia
Turner		3,162		1,710		1,452		69		1,383		6		1,389
Home Box Office		1,497		1,053		444		21		423		20		443
Warner Bros.		3,240		2,950		290		41		249		(8)		241
Eliminations and other		(540)		(196)		(344)		12		(356)		(3)		(359)
Total WarnerMedia		7,359		5,517		1,842		143		1,699		15		1,714
Latin America
Vrio		887		783		104		147		(43)		4		(39)
Mexico		703		714		(11)		134		(145)		-		(145)
Total Latin America		1,590		1,497		93		281		(188)		4		(184)
Xandr		489		170		319		20		299		-		299
Segment Total		43,687		28,595		15,092		5,079		10,013	$	19	$	10,032
Corporate and Other
Corporate		388		874		(486)		87		(573)
Acquisition-related items		-		182		(182)		2,056		(2,238)
Certain significant items		-		(658)		658		-		658
Eliminations and consolidations		(1,296)		(922)		(374)		-		(374)
AT&T Inc.	$	42,779	$	28,071	$	14,708	$	7,222	$	7,486
March 31, 2019
		Revenues		Operations and Support Expenses		EBITDA		Depreciation and Amortization		Operating Income (Loss)		Equity in Net Income (Loss) of Affiliates		Segment Contribution
Communications
Mobility	$	17,363	$	10,041	$	7,322	$	2,013	$	5,309	$	-	$	5,309
Entertainment Group		11,328		8,527		2,801		1,323		1,478		-		1,478
Business Wireline		6,478		4,032		2,446		1,222		1,224		-		1,224
Total Communications		35,169		22,600		12,569		4,558		8,011		-		8,011
WarnerMedia
Turner		3,443		2,136		1,307		60		1,247		25		1,272
Home Box Office		1,510		921		589		22		567		15		582
Warner Bros.		3,518		2,919		599		52		547		6		553
Eliminations and other		(92)		17		(109)		9		(118)		21		(97)
Total WarnerMedia		8,379		5,993		2,386		143		2,243		67		2,310
Latin America
Vrio		1,067		866		201		169		32		-		32
Mexico		651		725		(74)		131		(205)		-		(205)
Total Latin America		1,718		1,591		127		300		(173)		-		(173)
Xandr		426		160		266		13		253		-		253
Segment Total		45,692		30,344		15,348		5,014		10,334	$	67	$	10,401
Corporate and Other
Corporate		433		661		(228)		204		(432)
Acquisition-related items		(42)		73		(115)		1,988		(2,103)
Certain significant items		-		248		(248)		-		(248)
Eliminations and consolidations		(1,256)		(938)		(318)		-		(318)
AT&T Inc.	$	44,827	$	30,388	$	14,439	$	7,206	$	7,233

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