Document and Entity Information
Document and Entity Information - shares shares in Millions | 3 Months Ended | |
Mar. 31, 2021 | Apr. 30, 2021 | |
Entity Listings [Line Items] | ||
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Mar. 31, 2021 | |
Document Transition Report | false | |
Entity File Number | 001-8610 | |
Entity Registrant Name | AT&T INC. | |
Entity Incorporation, State or Country Code | DE | |
Entity Tax Identification Number | 43-1301883 | |
Entity Address, Address Line One | 208 S. Akard St. | |
Entity Address, City or Town | Dallas | |
Entity Address, State or Province | TX | |
Entity Address, Postal Zip Code | 75202 | |
City Area Code | 210 | |
Local Phone Number | 821-4105 | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Large Accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 7,140 | |
Amendment Flag | false | |
Document Fiscal Period Focus | Q1 | |
Document Fiscal Year Focus | 2021 | |
Current Fiscal Year End Date | --12-31 | |
Entity Central Index Key | 0000732717 | |
Common Shares (Par Value $1.00 Per Share) | ||
Entity Listings [Line Items] | ||
Title of 12(b) Security | Common Shares (Par Value $1.00 Per Share) | |
Trading Symbol | T | |
Security Exchange Name | NYSE | |
Depositary Shares, each representing a 1/1000th interest in a share of 5.000% Perpetual Preferred Stock, Series A | ||
Entity Listings [Line Items] | ||
Title of 12(b) Security | Depositary Shares, each representing a 1/1000th interest in ashare of 5.000% Perpetual Preferred Stock, Series A | |
Trading Symbol | T PRA | |
Security Exchange Name | NYSE | |
Depositary Shares, each representing a 1/1000th interest in a share of 4.750% Perpetual Preferred Stock, Series C | ||
Entity Listings [Line Items] | ||
Title of 12(b) Security | Depositary Shares, each representing a 1/1000th interest in ashare of 4.750% Perpetual Preferred Stock, Series C | |
Trading Symbol | T PRC | |
Security Exchange Name | NYSE | |
AT&T Inc. 2.650% Global Notes due December 17, 2021 | ||
Entity Listings [Line Items] | ||
Title of 12(b) Security | AT&T Inc. 2.650% Global Notes due December 17, 2021 | |
Trading Symbol | T 21B | |
Security Exchange Name | NYSE | |
AT&T Inc. 1.450% Global Notes due June 1, 2022 | ||
Entity Listings [Line Items] | ||
Title of 12(b) Security | AT&T Inc. 1.450% Global Notes due June 1, 2022 | |
Trading Symbol | T 22B | |
Security Exchange Name | NYSE | |
AT&T Inc. 2.500% Global Notes due March 15, 2023 | ||
Entity Listings [Line Items] | ||
Title of 12(b) Security | AT&T Inc. 2.500% Global Notes due March 15, 2023 | |
Trading Symbol | T 23 | |
Security Exchange Name | NYSE | |
AT&T Inc. 2.750% Global Notes due May 19, 2023 | ||
Entity Listings [Line Items] | ||
Title of 12(b) Security | AT&T Inc. 2.750% Global Notes due May 19, 2023 | |
Trading Symbol | T 23C | |
Security Exchange Name | NYSE | |
AT&T Inc. Floating Rate Global Notes due September 5, 2023 | ||
Entity Listings [Line Items] | ||
Title of 12(b) Security | AT&T Inc. Floating Rate Global Notes due September 5, 2023 | |
Trading Symbol | T 23D | |
Security Exchange Name | NYSE | |
AT&T Inc. 1.050% Global Notes due September 5, 2023 | ||
Entity Listings [Line Items] | ||
Title of 12(b) Security | AT&T Inc. 1.050% Global Notes due September 5, 2023 | |
Trading Symbol | T 23E | |
Security Exchange Name | NYSE | |
AT&T Inc. 1.300% Global Notes due September 5, 2023 | ||
Entity Listings [Line Items] | ||
Title of 12(b) Security | AT&T Inc. 1.300% Global Notes due September 5, 2023 | |
Trading Symbol | T 23A | |
Security Exchange Name | NYSE | |
AT&T Inc. 1.950% Global Notes due September 15, 2023 | ||
Entity Listings [Line Items] | ||
Title of 12(b) Security | AT&T Inc. 1.950% Global Notes due September 15, 2023 | |
Trading Symbol | T 23F | |
Security Exchange Name | NYSE | |
AT&T Inc. 2.400% Global Notes due March 15, 2024 | ||
Entity Listings [Line Items] | ||
Title of 12(b) Security | AT&T Inc. 2.400% Global Notes due March 15, 2024 | |
Trading Symbol | T 24A | |
Security Exchange Name | NYSE | |
AT&T Inc. 3.500% Global Notes due December 17, 2025 | ||
Entity Listings [Line Items] | ||
Title of 12(b) Security | AT&T Inc. 3.500% Global Notes due December 17, 2025 | |
Trading Symbol | T 25 | |
Security Exchange Name | NYSE | |
AT&T Inc. 0.250% Global Notes due March 4, 2026 | ||
Entity Listings [Line Items] | ||
Title of 12(b) Security | AT&T Inc. 0.250% Global Notes due March 4, 2026 | |
Trading Symbol | T 26E | |
Security Exchange Name | NYSE | |
AT&T Inc. 1.800% Global Notes due September 5, 2026 | ||
Entity Listings [Line Items] | ||
Title of 12(b) Security | AT&T Inc. 1.800% Global Notes due September 5, 2026 | |
Trading Symbol | T 26D | |
Security Exchange Name | NYSE | |
AT&T Inc. 2.900% Global Notes due December 4, 2026 | ||
Entity Listings [Line Items] | ||
Title of 12(b) Security | AT&T Inc. 2.900% Global Notes due December 4, 2026 | |
Trading Symbol | T 26A | |
Security Exchange Name | NYSE | |
AT&T Inc. 1.600% Global Notes due May 19, 2028 | ||
Entity Listings [Line Items] | ||
Title of 12(b) Security | AT&T Inc. 1.600% Global Notes due May 19, 2028 | |
Trading Symbol | T 28C | |
Security Exchange Name | NYSE | |
AT&T Inc. 2.350% Global Notes due September 5, 2029 | ||
Entity Listings [Line Items] | ||
Title of 12(b) Security | AT&T Inc. 2.350% Global Notes due September 5, 2029 | |
Trading Symbol | T 29D | |
Security Exchange Name | NYSE | |
AT&T Inc. 4.375% Global Notes due September 14, 2029 | ||
Entity Listings [Line Items] | ||
Title of 12(b) Security | AT&T Inc. 4.375% Global Notes due September 14, 2029 | |
Trading Symbol | T 29B | |
Security Exchange Name | NYSE | |
AT&T Inc. 2.600% Global Notes due December 17, 2029 | ||
Entity Listings [Line Items] | ||
Title of 12(b) Security | AT&T Inc. 2.600% Global Notes due December 17, 2029 | |
Trading Symbol | T 29A | |
Security Exchange Name | NYSE | |
AT&T Inc. 0.800% Global Notes due March 4, 2030 | ||
Entity Listings [Line Items] | ||
Title of 12(b) Security | AT&T Inc. 0.800% Global Notes due March 4, 2030 | |
Trading Symbol | T 30B | |
Security Exchange Name | NYSE | |
AT&T Inc. 2.050% Global Notes due May 19, 2032 | ||
Entity Listings [Line Items] | ||
Title of 12(b) Security | AT&T Inc. 2.050% Global Notes due May 19, 2032 | |
Trading Symbol | T 32A | |
Security Exchange Name | NYSE | |
AT&T Inc. 3.550% Global Notes due December 17, 2032 | ||
Entity Listings [Line Items] | ||
Title of 12(b) Security | AT&T Inc. 3.550% Global Notes due December 17, 2032 | |
Trading Symbol | T 32 | |
Security Exchange Name | NYSE | |
AT&T Inc. 5.200% Global Notes due November 18, 2033 | ||
Entity Listings [Line Items] | ||
Title of 12(b) Security | AT&T Inc. 5.200% Global Notes due November 18, 2033 | |
Trading Symbol | T 33 | |
Security Exchange Name | NYSE | |
AT&T Inc. 3.375% Global Notes due March 15, 2034 | ||
Entity Listings [Line Items] | ||
Title of 12(b) Security | AT&T Inc. 3.375% Global Notes due March 15, 2034 | |
Trading Symbol | T 34 | |
Security Exchange Name | NYSE | |
AT&T Inc. 2.450% Global Notes due March 15, 2035 | ||
Entity Listings [Line Items] | ||
Title of 12(b) Security | AT&T Inc. 2.450% Global Notes due March 15, 2035 | |
Trading Symbol | T 35 | |
Security Exchange Name | NYSE | |
AT&T Inc. 3.150% Global Notes due September 4, 2036 | ||
Entity Listings [Line Items] | ||
Title of 12(b) Security | AT&T Inc. 3.150% Global Notes due September 4, 2036 | |
Trading Symbol | T 36A | |
Security Exchange Name | NYSE | |
AT&T Inc. 2.600% Global Notes due May 19, 2038 | ||
Entity Listings [Line Items] | ||
Title of 12(b) Security | AT&T Inc. 2.600% Global Notes due May 19, 2038 | |
Trading Symbol | T 38C | |
Security Exchange Name | NYSE | |
AT&T Inc. 1.800% Global Notes due September 14, 2039 | ||
Entity Listings [Line Items] | ||
Title of 12(b) Security | AT&T Inc. 1.800% Global Notes due September 14, 2039 | |
Trading Symbol | T 39B | |
Security Exchange Name | NYSE | |
AT&T Inc. 7.000% Global Notes due April 30, 2040 | ||
Entity Listings [Line Items] | ||
Title of 12(b) Security | AT&T Inc. 7.000% Global Notes due April 30, 2040 | |
Trading Symbol | T 40 | |
Security Exchange Name | NYSE | |
AT&T Inc. 4.250% Global Notes due June 1, 2043 | ||
Entity Listings [Line Items] | ||
Title of 12(b) Security | AT&T Inc. 4.250% Global Notes due June 1, 2043 | |
Trading Symbol | T 43 | |
Security Exchange Name | NYSE | |
AT&T Inc. 4.875% Global Notes due June 1, 2044 | ||
Entity Listings [Line Items] | ||
Title of 12(b) Security | AT&T Inc. 4.875% Global Notes due June 1, 2044 | |
Trading Symbol | T 44 | |
Security Exchange Name | NYSE | |
AT&T Inc. 4.000% Global Notes due June 1, 2049 | ||
Entity Listings [Line Items] | ||
Title of 12(b) Security | AT&T Inc. 4.000% Global Notes due June 1, 2049 | |
Trading Symbol | T 49A | |
Security Exchange Name | NYSE | |
AT&T Inc. 4.250% Global Notes due March 1, 2050 | ||
Entity Listings [Line Items] | ||
Title of 12(b) Security | AT&T Inc. 4.250% Global Notes due March 1, 2050 | |
Trading Symbol | T 50 | |
Security Exchange Name | NYSE | |
AT&T Inc. 3.750% Global Notes due September 1, 2050 | ||
Entity Listings [Line Items] | ||
Title of 12(b) Security | AT&T Inc. 3.750% Global Notes due September 1, 2050 | |
Trading Symbol | T 50A | |
Security Exchange Name | NYSE | |
AT&T Inc. 5.350% Global Notes due November 1, 2066 | ||
Entity Listings [Line Items] | ||
Title of 12(b) Security | AT&T Inc. 5.350% Global Notes due November 1, 2066 | |
Trading Symbol | TBB | |
Security Exchange Name | NYSE | |
AT&T Inc. 5.625% Global Notes due August 1, 2067 | ||
Entity Listings [Line Items] | ||
Title of 12(b) Security | AT&T Inc. 5.625% Global Notes due August 1, 2067 | |
Trading Symbol | TBC | |
Security Exchange Name | NYSE |
Consolidated Statements Of Inco
Consolidated Statements Of Income - USD ($) shares in Millions, $ in Millions | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Operating Revenues | ||
Total operating revenues | $ 43,939 | $ 42,779 |
Cost of revenues | ||
Other cost of revenues (exclusive of depreciation and amortization shown separately below) | 7,993 | 8,342 |
Selling, general and administrative | 9,382 | 8,760 |
Asset impairments and abandonments | 0 | 123 |
Depreciation and amortization | 5,809 | 7,222 |
Total operating expenses | 36,278 | 35,293 |
Operating Income | 7,661 | 7,486 |
Other Income (Expense) | ||
Interest expense | (1,870) | (2,018) |
Equity in net income (loss) of affiliates | 52 | (6) |
Other income (expense) — net | 4,221 | 803 |
Total other income (expense) | 2,403 | (1,221) |
Income Before Income Taxes | 10,064 | 6,265 |
Income tax expense | 2,122 | 1,302 |
Net Income | 7,942 | 4,963 |
Less: Net Income Attributable to Noncontrolling Interest | (392) | (353) |
Net Income Attributable to AT&T | 7,550 | 4,610 |
Less: Preferred Stock Dividends | (50) | (32) |
Net Income Attributable to Common Stock | $ 7,500 | $ 4,578 |
Basic Earnings Per Share Attributable to Common Stock (in dollars per share) | $ 1.04 | $ 0.63 |
Diluted Earnings Per Share Attributable to Common Stock (in dollars per share) | $ 1.04 | $ 0.63 |
Weighted Average Number of Common Shares Outstanding - Basic (in millions) (in shares) | 7,161 | 7,187 |
Weighted Average Number of Common Shares Outstanding - with Dilution (in millions) (in shares) | 7,188 | 7,214 |
Service | ||
Operating Revenues | ||
Total operating revenues | $ 38,504 | $ 38,883 |
Equipment | ||
Operating Revenues | ||
Total operating revenues | 5,435 | 3,896 |
Cost of revenues | ||
Cost of goods and services sold | 5,556 | 4,092 |
Broadcast, programming and operations | ||
Cost of revenues | ||
Cost of goods and services sold | $ 7,538 | $ 6,754 |
Consolidated Statements Of Comp
Consolidated Statements Of Comprehensive Income - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Statement of Comprehensive Income [Abstract] | ||
Net income | $ 7,942 | $ 4,963 |
Foreign currency: | ||
Translation adjustment (includes $(4) and $(51) attributable to noncontrolling interest), net of taxes of $(37) and $(62) | (109) | (1,854) |
Securities: | ||
Net unrealized gains (losses), net of taxes of $(18) and $22 | (55) | 66 |
Reclassification adjustment included in net income, net of taxes of $(1) and $0 | (2) | 0 |
Derivative instruments: | ||
Net unrealized gains (losses), net of taxes of $136 and $(971) | 511 | (3,657) |
Reclassification adjustment included in net income, net of taxes of $6 and $0 | 24 | 0 |
Defined benefit postretirement plans: | ||
Amortization of net prior service credit included in net income, net of taxes of $(165) and $(151) | (504) | (461) |
Other comprehensive income (loss) | (135) | (5,906) |
Total comprehensive income (loss) | 7,807 | (943) |
Less: Total comprehensive income attributable to noncontrolling interest | (388) | (302) |
Total Comprehensive Income (Loss) Attributable to AT&T | $ 7,419 | $ (1,245) |
Consolidated Statements of Co_2
Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Statement of Comprehensive Income [Abstract] | ||
Foreign currency translation adjustments, attributable to noncontrolling interest, net of taxes | $ (4) | $ (51) |
Foreign currency translation adjustments - tax effect | (37) | (62) |
Unrealized gains (losses) on securities - tax effect | (18) | 22 |
Reclassification adjustment included in net income on securities - tax effect | (1) | 0 |
Unrealized gains (losses) on derivatives - tax effect | 136 | (971) |
Reclassification adjustment included in net income on derivatives - tax effect | 6 | 0 |
Amortization of net prior service credit included in net income - tax effect | $ (165) | $ (151) |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Millions | Mar. 31, 2021 | Dec. 31, 2020 |
Current Assets | ||
Cash and cash equivalents | $ 11,342 | $ 9,740 |
Accounts receivable – net of related allowances for credit loss of $954 and $1,221 | 16,971 | 20,215 |
Inventories | 3,347 | 3,695 |
Prepaid Expense and Other Assets, Current | 31,094 | 18,358 |
Total current assets | 62,754 | 52,008 |
Noncurrent Inventories and Theatrical Film and Television Production Costs | 15,626 | 14,752 |
Property, plant and equipment | 322,534 | 327,751 |
Less: accumulated depreciation and amortization | (197,927) | (200,436) |
Property, Plant and Equipment – Net | 124,607 | 127,315 |
Goodwill | 135,168 | 135,259 |
Licenses – Net | 87,947 | 93,840 |
Other Intangible Assets – Net | 13,384 | 15,386 |
Investments in and Advances to Equity Affiliates | 1,805 | 1,780 |
Operating Lease Right-Of-Use Assets | 24,415 | 24,714 |
Deposits on Wireless Licenses | 23,406 | 0 |
Other Assets | 21,496 | 23,617 |
Total Assets | 546,985 | 525,761 |
Current Liabilities | ||
Debt maturing within one year | 19,505 | 3,470 |
Accounts payable and accrued liabilities | 48,245 | 50,051 |
Advanced billings and customer deposits | 5,029 | 6,176 |
Dividends payable | 3,829 | 3,741 |
Total current liabilities | 76,608 | 63,438 |
Long-Term Debt | 160,694 | 153,775 |
Deferred Credits and Other Noncurrent Liabilities | ||
Deferred income taxes | 61,886 | 60,472 |
Postemployment benefit obligation | 14,723 | 18,276 |
Operating lease liabilities | 21,766 | 22,202 |
Other noncurrent liabilities | 28,229 | 28,358 |
Total deferred credits and other noncurrent liabilities | 126,604 | 129,308 |
Stockholders’ Equity | ||
Common stock ($1 par value, 14,000,000,000 authorized at March 31, 2021 and December 31, 2020: issued 7,620,748,598 at March 31, 2021 and December 31, 2020) | 7,621 | 7,621 |
Additional paid-in capital | 129,856 | 130,175 |
Retained earnings | 41,154 | 37,457 |
Treasury stock (480,892,174 at March 31, 2021 and 494,826,583 at December 31, 2020, at cost) | (17,342) | (17,910) |
Accumulated other comprehensive income | 4,199 | 4,330 |
Noncontrolling interest | 17,591 | 17,567 |
Total stockholders’ equity | 183,079 | 179,240 |
Total Liabilities and Stockholders’ Equity | 546,985 | 525,761 |
Series A (48,000 issued and outstanding at March 31, 2021 and December 31, 2020) | ||
Stockholders’ Equity | ||
Preferred stock ($1 par value, 10,000,000 authorized): | 0 | 0 |
Series B (20,000 issued and outstanding at March 31, 2021 and December 31, 2020) | ||
Stockholders’ Equity | ||
Preferred stock ($1 par value, 10,000,000 authorized): | 0 | 0 |
Series C (70,000 issued and outstanding at March 31, 2021 and December 31, 2020) | ||
Stockholders’ Equity | ||
Preferred stock ($1 par value, 10,000,000 authorized): | 0 | 0 |
Trademarks and Trade Names – Net | ||
Current Assets | ||
Finite-Lived Intangible Assets - Net | 23,043 | 23,297 |
Distribution Networks – Net | ||
Current Assets | ||
Finite-Lived Intangible Assets - Net | $ 13,334 | $ 13,793 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions | Mar. 31, 2021 | Dec. 31, 2020 |
Allowances for doubtful accounts | $ 954 | $ 1,221 |
Preferred stock, par value (in dollars per share) | $ 1 | $ 1 |
Preferred stock, authorized (in shares) | 10,000,000 | 10,000,000 |
Common stock, par value (in dollars per share) | $ 1 | $ 1 |
Common stock, authorized (in shares) | 14,000,000,000 | 14,000,000,000 |
Common stock, issued (in shares) | 7,620,748,598 | 7,620,748,598 |
Treasury stock, held (in shares) | 480,892,174 | 494,826,583 |
Preferred Stock - Series A | ||
Preferred stock, issued (in shares) | 48,000 | 48,000 |
Preferred stock, outstanding (in shares) | 48,000 | 48,000 |
Preferred Stock - Series B | ||
Preferred stock, issued (in shares) | 20,000 | 20,000 |
Preferred stock, outstanding (in shares) | 20,000 | 20,000 |
Preferred Stock - Series C | ||
Preferred stock, issued (in shares) | 70,000 | 70,000 |
Preferred stock, outstanding (in shares) | 70,000 | 70,000 |
Consolidated Statements Of Cash
Consolidated Statements Of Cash Flows - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Operating Activities | ||
Net income | $ 7,942 | $ 4,963 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation and amortization | 5,809 | 7,222 |
Amortization of film and television costs | 2,886 | 2,269 |
Undistributed earnings from investments in equity affiliates | (47) | 39 |
Provision for uncollectible accounts | 321 | 780 |
Deferred income tax expense | 1,848 | 259 |
Net (gain) loss on investments, net of impairments | (119) | (646) |
Pension and postretirement benefit expense (credit) | (974) | (748) |
Actuarial (gain) loss on pension and postretirement benefits | (2,844) | 0 |
Asset impairments and abandonments | 0 | 123 |
Changes in operating assets and liabilities: | ||
Receivables | 751 | 1,695 |
Other current assets, inventories and theatrical film and television production costs | (3,518) | (3,267) |
Accounts payable and other accrued liabilities | (3,060) | (3,884) |
Equipment installment receivables and related sales | 1,190 | 535 |
Deferred customer contract acquisition and fulfillment costs | 244 | 105 |
Postretirement claims and contributions | (343) | (111) |
Other - net | (159) | (468) |
Total adjustments | 1,985 | 3,903 |
Net Cash Provided by Operating Activities | 9,927 | 8,866 |
Investing Activities | ||
Capital expenditures, including $(61) and $(28) of interest during construction | (4,033) | (4,966) |
Acquisitions, net of cash acquired | (22,884) | (100) |
Dispositions | 51 | 118 |
(Purchases), sales and settlements of securities and investments, net | (4) | (6) |
Advances to and investments in equity affiliates, net | 18 | (68) |
Net Cash Used in Investing Activities | (26,852) | (5,022) |
Financing Activities | ||
Net change in short-term borrowings with original maturities of three months or less | 687 | 1,742 |
Issuance of other short-term borrowings | 15,485 | 1,390 |
Issuance of long-term debt | 9,097 | 4,357 |
Repayment of long-term debt | (902) | (4,422) |
Payment of vendor financing | (1,690) | (791) |
Issuance of preferred stock | 0 | 3,869 |
Purchase of treasury stock | (176) | (5,463) |
Issuance of treasury stock | 63 | 58 |
Dividends paid | (3,741) | (3,737) |
Other - net | (340) | (3,102) |
Net Cash Provided by (Used in) Financing Activities | 18,483 | (6,099) |
Net increase (decrease) in cash and cash equivalents and restricted cash | 1,558 | (2,255) |
Cash and cash equivalents and restricted cash beginning of year | 9,870 | 12,295 |
Cash and Cash Equivalents and Restricted Cash End of Period | $ 11,428 | $ 10,040 |
Consolidated Statements Of Ca_2
Consolidated Statements Of Cash Flows (Parenthetical) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Statement of Cash Flows [Abstract] | ||
Capital expenditures, interest during construction | $ (61) | $ (28) |
Consolidated Statement Of Chang
Consolidated Statement Of Changes In Stockholders' Equity - USD ($) shares in Millions, $ in Millions | Total | Preferred StockPreferred Stock - Series A | Preferred StockPreferred Stock - Series B | Preferred StockPreferred Stock - Series C | Common Stock | Additional Paid-In Capital | Additional Paid-In CapitalPreferred Stock | Additional Paid-In CapitalCommon Stock | Retained Earnings | Retained EarningsCumulative effect of accounting change and other adjustments | Retained EarningsAdjusted beginning balance | Treasury Stock | Accumulated Other Comprehensive Income Attributable to AT&T, net of tax | Noncontrolling Interest | Noncontrolling InterestCumulative effect of accounting change and other adjustments | Noncontrolling InterestAdjusted beginning balance |
Balance at beginning of period at Dec. 31, 2019 | $ 201,934 | $ 0 | $ 0 | $ 0 | $ 7,621 | $ 126,279 | $ 57,936 | $ (293) | $ 57,643 | $ (13,085) | $ 5,470 | $ 17,713 | $ (7) | $ 17,706 | ||
Balance at beginning of period (in shares) at Dec. 31, 2019 | 0 | 0 | 0 | 7,621 | (366) | |||||||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||||||||||
Repurchase and acquisition of common stock | $ 67 | |||||||||||||||
Issuance of stock | $ 0 | $ 0 | $ 0 | $ 0 | $ 3,869 | |||||||||||
Issuance of stock (in shares) | 0 | 0 | 0 | 0 | ||||||||||||
Repurchase and acquisition of common stock | $ (5,547) | |||||||||||||||
Repurchase and acquisition of common stock (in shares) | (148) | |||||||||||||||
Issuance/reissuance of treasury stock | (47) | $ 675 | ||||||||||||||
Issuance/reissuance of treasury stock (in shares) | 18 | |||||||||||||||
Share-based payments | (202) | |||||||||||||||
Net income attributable to AT&T | 4,610 | 4,610 | ||||||||||||||
Preferred stock dividends | (32) | |||||||||||||||
Common stock dividends ($0.52 and $0.52 per share) | (3,687) | |||||||||||||||
Other comprehensive income attributable to AT&T | (5,855) | (5,855) | ||||||||||||||
Net income attributable to noncontrolling interest | 353 | 353 | ||||||||||||||
Issuance and acquisition by noncontrolling owners | 1 | |||||||||||||||
Distributions | (339) | |||||||||||||||
Translation adjustments attributable to noncontrolling interest, net of taxes | 51 | (51) | ||||||||||||||
Balance at end of period at Mar. 31, 2020 | 195,449 | $ 0 | $ 0 | $ 0 | $ 7,621 | 129,966 | 58,534 | $ (17,957) | (385) | 17,670 | ||||||
Balance at end of period (in shares) at Mar. 31, 2020 | 0 | 0 | 0 | 7,621 | (496) | |||||||||||
Balance at beginning of period at Dec. 31, 2020 | 179,240 | $ 0 | $ 0 | $ 0 | $ 7,621 | 130,175 | 37,457 | $ 0 | $ 37,457 | $ (17,910) | 4,330 | 17,567 | $ 0 | $ 17,567 | ||
Balance at beginning of period (in shares) at Dec. 31, 2020 | 0 | 0 | 0 | 7,621 | (495) | |||||||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||||||||||
Repurchase and acquisition of common stock | $ 0 | |||||||||||||||
Issuance of stock | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | |||||||||||
Issuance of stock (in shares) | 0 | 0 | 0 | 0 | ||||||||||||
Repurchase and acquisition of common stock | $ (176) | |||||||||||||||
Repurchase and acquisition of common stock (in shares) | (6) | |||||||||||||||
Issuance/reissuance of treasury stock | (70) | $ 744 | ||||||||||||||
Issuance/reissuance of treasury stock (in shares) | 20 | |||||||||||||||
Share-based payments | (249) | |||||||||||||||
Net income attributable to AT&T | 7,550 | 7,550 | ||||||||||||||
Preferred stock dividends | (117) | |||||||||||||||
Common stock dividends ($0.52 and $0.52 per share) | (3,736) | |||||||||||||||
Other comprehensive income attributable to AT&T | (131) | (131) | ||||||||||||||
Net income attributable to noncontrolling interest | 392 | 392 | ||||||||||||||
Issuance and acquisition by noncontrolling owners | 0 | |||||||||||||||
Distributions | (364) | |||||||||||||||
Translation adjustments attributable to noncontrolling interest, net of taxes | 4 | (4) | ||||||||||||||
Balance at end of period at Mar. 31, 2021 | $ 183,079 | $ 0 | $ 0 | $ 0 | $ 7,621 | $ 129,856 | $ 41,154 | $ (17,342) | $ 4,199 | $ 17,591 | ||||||
Balance at end of period (in shares) at Mar. 31, 2021 | 0 | 0 | 0 | 7,621 | (481) |
Consolidated Statement Of Cha_2
Consolidated Statement Of Changes In Stockholders' Equity (Parenthetical) - $ / shares | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Statement of Stockholders' Equity [Abstract] | ||
Dividends to stockholders, per share (in dollars per share) | $ 0.52 | $ 0.52 |
Preparation Of Interim Financia
Preparation Of Interim Financial Statements | 3 Months Ended |
Mar. 31, 2021 | |
Accounting Policies [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 “we,” “AT&T” or the “Company.” The consolidated financial statements include the accounts of the Company and subsidiaries and affiliates which we control. AT&T is a holding company whose subsidiaries and affiliates operate worldwide in the telecommunications, media and technology industries. 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, 2020. The results for the interim periods are not necessarily indicative of those for the full year. These 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. All significant intercompany transactions are eliminated in the consolidation process. Investments in subsidiaries and partnerships which we do not control but 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 quarter of our period end. We also record our proportionate share of our equity method investees’ other comprehensive income (OCI) items. 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. Actual results could differ from those estimates. Certain prior period amounts have been conformed to the current period’s presentation (see Note 4 and Note 5). In the tables throughout this document, percentage increases and decreases that are not considered meaningful are denoted with a dash. |
Earnings Per Share
Earnings Per Share | 3 Months Ended |
Mar. 31, 2021 | |
Earnings Per Share [Abstract] | |
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 months ended March 31, 2021 and 2020, is shown in the table below: Three months ended March 31, 2021 2020 Numerators Numerator for basic earnings per share: Net Income Attributable to Common Stock $ 7,500 $ 4,578 Dilutive potential common shares: Share-based payment 6 6 Numerator for diluted earnings per share $ 7,506 $ 4,584 Denominators (000,000) Denominator for basic earnings per share: Weighted average number of common shares outstanding 7,161 7,187 Dilutive potential common shares: Share-based payment (in shares) 27 27 Denominator for diluted earnings per share 7,188 7,214 |
Other Comprehensive Income
Other Comprehensive Income | 3 Months Ended |
Mar. 31, 2021 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |
Other Comprehensive Income | NOTE 3. OTHER COMPREHENSIVE INCOME Changes in the balances of each component included in accumulated OCI are presented below. All amounts are net of tax and exclude noncontrolling interest. Foreign Currency Translation Adjustment Net Unrealized Gains (Losses) on Securities Net Unrealized Gains (Losses) on Derivative Instruments Defined Benefit Postretirement Plans Accumulated Other Comprehensive Income (Loss) Balance as of December 31, 2020 $ (3,926) $ 111 $ (779) $ 8,924 $ 4,330 Other comprehensive income (loss) before reclassifications (105) (55) 511 — 351 Amounts reclassified from accumulated OCI — 1 (2) 1 24 2 (504) 3 (482) Net other comprehensive income (loss) (105) (57) 535 (504) (131) Balance as of March 31, 2021 $ (4,031) $ 54 $ (244) $ 8,420 $ 4,199 Foreign Currency Translation Adjustment Net Unrealized Gains (Losses) on Securities Net Unrealized Gains (Losses) on Derivative Instruments Defined Benefit Postretirement Plans Accumulated Other Comprehensive Income (Loss) Balance as of December 31, 2019 $ (3,056) $ 48 $ (37) $ 8,515 $ 5,470 Other comprehensive income (loss) before reclassifications (1,803) 66 (3,657) — (5,394) Amounts reclassified from accumulated OCI — 1 — 1 — 2 (461) 3 (461) Net other comprehensive income (loss) (1,803) 66 (3,657) (461) (5,855) Balance as of March 31, 2020 $ (4,859) $ 114 $ (3,694) $ 8,054 $ (385) 1 (Gains) losses are included in “ Other income (expense) - net ” in the consolidated statements of income. 2 (Gains) losses are primarily included in “ Interest expense ” in the consolidated statements of income (see Note 7). 3 The amortization of prior service credits associated with postretirement benefits are included in “ Other income (expense) - net ” in the consolidated statements of income (see Note 6). |
Segment Information
Segment Information | 3 Months Ended |
Mar. 31, 2021 | |
Segment Reporting [Abstract] | |
Segment Information | NOTE 4. SEGMENT INFORMATION Our segments are comprised of strategic business units or other operations that offer products and services to different customer segments over various technology platforms and/or in different geographies that are managed accordingly. We analyze our segments based on segment operating contribution, which consists of operating income, excluding acquisition-related costs and other significant items (as discussed below), and equity in net income (loss) of affiliates for investments managed within each segment. We have three reportable segments: (1) Communications, (2) WarnerMedia and (3) Latin America. We also evaluate segment and business unit performance based on EBITDA and/or EBITDA margin, which is defined as operating contribution excluding equity in net income (loss) of affiliates and 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 operating performance. EBITDA does not give effect to depreciation and amortization expenses incurred in operating contribution nor is it burdened by cash used for debt service requirements and thus does not reflect available funds for distributions, reinvestment or other discretionary uses. EBITDA margin is EBITDA divided by total revenues. We have recast our segment results for all prior periods to reflect the following: Communications segment results were recast to remove the Video and Government Solutions held-for-sale businesses, instead reporting those results in Corporate and Other, consistent with our historical practice. Additionally, we refined the allocation of shared infrastructure and deferred customer acquisition costs between Consumer Wireline and Video. WarnerMedia segment results reflect our operation of WarnerMedia as one integrated organization. The Communications segment provides wireless and wireline telecom and broadband services to consumers located in the U.S. and businesses globally. Our business strategies reflect bundled product offerings that cut across product lines and utilize shared assets. This segment contains the following business units: • Mobility provides nationwide wireless service and equipment. • Business Wireline provides advanced IP-based services, as well as traditional voice and data services and related equipment to business customers. • Consumer Wireline provides internet, including broadband fiber, and legacy telephony voice communication services to residential customers. The WarnerMedia segment develops, produces and distributes feature films, television, gaming and other content in various physical and digital formats globally. WarnerMedia content is distributed through Basic Networks, Direct-to-Consumer (DTC) or Theatrical, TV Content and Games Licensing. Segment results also include Xandr advertising, Otter Media Holdings and eliminations of intercompany transactions within WarnerMedia. Effective January 1, 2021, we updated our reporting units to reflect recent changes in how WarnerMedia, an integrated content organization that distributes across various platforms, is managed and evaluated. With this operational change, the reporting unit is deemed to be the operating segment. The previous reporting units, Turner, Home Box Office, Warner Bros. and Xandr, and the new WarnerMedia reporting unit were tested for goodwill impairment on January 1, 2021, for which there was none. The Latin America segment provides entertainment and wireless services outside of the U.S. This segment contains the following business units: • Vrio provides video services primarily to residential customers using satellite technology in Latin America and the Caribbean. • Mexico provides wireless service and equipment to customers in Mexico. Corporate and Other reconciles our segment results to consolidated operating income and income before income taxes, and includes: • Corporate , which consists of: (1) businesses no longer integral to our operations or which we no longer actively market, (2) corporate support functions, (3) impacts of corporate-wide decisions for which the individual operating segments are not being evaluated, and (4) the reclassification of the amortization of prior service credits, which we continue to report with segment operating expenses, to consolidated “Other income (expense) – net.” • Video, which consists of our held-for-sale video operations, which provides video, including over-the-top (OTT) services and also sells multiplatform advertising services. • Acquisition-related items , which consists of items associated with the merger and integration of acquired or divested businesses, including amortization of intangible assets. • Certain significant items , which includes (1) employee separation charges associated with voluntary and/or strategic offers, (2) asset impairments and abandonments, and (3) other items for which the segments are not being evaluated. • Eliminations and consolidations , which (1) removes transactions involving dealings between our segments, including channel distribution between WarnerMedia and Video, and (2) includes adjustments for our reporting of the advertising business. “Interest expense” and “Other income (expense) – net,” are managed only on a total company basis and are, accordingly, reflected only in consolidated results. For the three months ended March 31, 2021 Revenues Operations EBITDA Depreciation Operating Equity in Net Segment Communications Mobility $ 19,034 $ 11,018 $ 8,016 $ 2,014 $ 6,002 $ — $ 6,002 Business Wireline 6,046 3,710 2,336 1,278 1,058 — 1,058 Consumer Wireline 3,098 2,031 1,067 762 305 — 305 Total Communications 28,178 16,759 11,419 4,054 7,365 — 7,365 WarnerMedia 8,526 6,403 2,123 163 1,960 70 2,030 Latin America Vrio 743 661 82 117 (35) (4) (39) Mexico 631 620 11 145 (134) — (134) Total Latin America 1,374 1,281 93 262 (169) (4) (173) Segment Total 38,078 24,443 13,635 4,479 9,156 $ 66 $ 9,222 Corporate and Other Corporate 1 426 1,213 (787) 35 (822) Video 6,725 5,660 1,065 164 901 Acquisition-related items — 37 (37) 1,131 (1,168) Certain significant items — 57 (57) — (57) Eliminations and consolidations (1,290) (941) (349) — (349) AT&T Inc. $ 43,939 $ 30,469 $ 13,470 $ 5,809 $ 7,661 1 Operations and Support Expenses include $669 for the reclassification of prior service credit amortization. For the three months ended March 31, 2020 Revenues Operations and Support Expenses EBITDA Depreciation and Amortization Operating Income (Loss) Equity in Net Segment Contribution Communications Mobility $ 17,402 $ 9,569 $ 7,833 $ 2,045 $ 5,788 $ — $ 5,788 Business Wireline 6,266 3,887 2,379 1,286 1,093 — 1,093 Consumer Wireline 3,111 1,879 1,232 712 520 — 520 Total Communications 26,779 15,335 11,444 4,043 7,401 — 7,401 WarnerMedia 7,765 5,605 2,160 161 1,999 15 2,014 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) Segment Total 36,134 22,437 13,697 4,485 9,212 $ 19 $ 9,231 Corporate and Other Corporate 1 534 1,012 (478) 90 (568) Video 7,407 6,020 1,387 591 796 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 1 Operations and Support Expenses include $612 for the reclassification of prior service credit amortization. The following table is a reconciliation of Segment Contributions to “Income Before Income Taxes” reported in our consolidated statements of income: Three months ended 2021 2020 Communications $ 7,365 $ 7,401 WarnerMedia 2,030 2,014 Latin America (173) (184) Segment Contribution 9,222 9,231 Reconciling Items: Corporate and Other (822) (568) Video 901 796 Merger costs (37) (182) Amortization of intangibles acquired (1,131) (2,056) Asset impairments and abandonments — (123) Gain on spectrum transaction 1 — 900 Employee separation costs and benefit-related losses (57) (119) Segment equity in net income of affiliates (66) (19) Eliminations and consolidations (349) (374) AT&T Operating Income 7,661 7,486 Interest Expense 1,870 2,018 Equity in net income (loss) of affiliates 52 (6) Other income (expense) - net 4,221 803 Income Before Income Taxes $ 10,064 $ 6,265 1 Included as a reduction of "Selling, general and administrative expenses" in the consolidated statement of income. The following tables presents intersegment revenues and assets by segment: Intersegment Reconciliation Three months ended 2021 2020 Intersegment Revenues Communications $ 3 $ 2 WarnerMedia 838 817 Latin America — — Total Intersegment Revenues 841 819 Consolidations 449 477 Eliminations and consolidations $ 1,290 $ 1,296 March 31, 2021 December 31, 2020 Assets Communications 1 $ 506,168 $ 506,102 WarnerMedia 148,588 148,037 Latin America 15,522 15,811 Corporate and eliminations 1 (123,293) (144,189) Total $ 546,985 $ 525,761 1 Amounts above, including December 31, 2020, have been updated to reflect the classification of our Video business as held-for-sale, which included the recast of historical results to remove Video from our Communications segment and instead report in Corporate and Other (see Note 8). |
Revenue Recognition
Revenue Recognition | 3 Months Ended |
Mar. 31, 2021 | |
Revenue from Contract with Customer [Abstract] | |
Revenue Recognition | NOTE 5. REVENUE RECOGNITION Revenue Categories The following tables set forth reported revenue by category and by business unit, prior period amounts have been recast to conform to the current period presentation with our segment updates (see Note 4). For the three months ended March 31, 2021 Communications Mobility Business Wireline Consumer Wireline WarnerMedia Latin America Corporate & Other Elim. Total Wireless service $ 13,965 $ — $ — $ — $ 439 $ 10 $ — $ 14,414 Video service — — — — 743 6,295 — 7,038 Business service — 5,872 — — — 70 — 5,942 IP Broadband — — 2,205 — — — — 2,205 Subscription — — — 3,830 — — — 3,010 DTC (HBO Max) 1 — — — — — — (235) Other 2 — — — — — — (585) Content — — — 3,420 — — — 2,777 DTC (HBO Max) 3 — — — (331) — — — Other 3 — — — (312) — — — Advertising 83 — — 1,750 — 388 (388) 1,833 Legacy voice and data — — 519 — — 123 — 642 Other — — 332 169 — 224 (82) 643 Total Service $ 14,048 $ 5,872 $ 3,056 $ 8,526 $ 1,182 $ 7,110 $ (1,290) $ 38,504 Equipment 4,986 174 42 — 192 41 — 5,435 Total $ 19,034 $ 6,046 $ 3,098 $ 8,526 $ 1,374 $ 7,151 $ (1,290) $ 43,939 1 Represents DTC (HBO Max) intercompany sales to the Communications segment ($145 with Mobility and $90 with Consumer Wireline). 2 Represents intercompany video distribution arrangements primarily to DIRECTV/U-Verse from WarnerMedia. 3 Represents intercompany transactions in the WarnerMedia segment. For the three months ended March 31, 2020 Communications Mobility Business Wireline Consumer Wireline WarnerMedia Latin America Corporate & Other Elim. Total Wireless service $ 13,892 $ — $ — $ — $ 467 $ 116 $ — $ 14,475 Video service — — — — 887 6,984 — 7,871 Business service — 6,091 — — — 77 — 6,168 IP Broadband — — 2,109 — — — — 2,109 Subscription — — — 3,401 — — — 2,607 DTC (HBO Max) — — — — — — — Other 1 — — — — — — (794) Content — — — 3,303 — — — 2,633 DTC (HBO Max) 2 — — — (401) — — — Other 2 — — — (269) — — — Advertising 76 — — 1,477 — 413 (413) 1,553 Legacy voice and data — — 581 — — 134 — 715 Other — — 419 254 — 168 (89) 752 Total Service $ 13,968 $ 6,091 $ 3,109 $ 7,765 $ 1,354 $ 7,892 $ (1,296) $ 38,883 Equipment 3,434 175 2 — 236 49 — 3,896 Total $ 17,402 $ 6,266 $ 3,111 $ 7,765 $ 1,590 $ 7,941 $ (1,296) $ 42,779 1 Represents intercompany video distribution arrangements primarily to DIRECTV/U-Verse from WarnerMedia. 2 Represents intercompany transactions in the WarnerMedia segment. Deferred Customer Contract Acquisition and Fulfillment Costs Costs to acquire and fulfill customer contracts, including commissions on service activations, for our wireless, business wireline, consumer wireline and video services, are deferred and amortized over the contract period or expected customer relationship life, which typically ranges from three years to five years. For contracts with an estimated amortization period of less than one year, we expense incremental costs immediately. The following table presents the deferred customer contract acquisition and fulfillment costs included on our consolidated balance sheets: March 31, December 31, Consolidated Balance Sheets 2021 2020 Deferred Acquisition Costs Prepaid and other current assets $ 3,788 $ 3,087 Other Assets 2,693 3,198 Total deferred customer contract acquisition costs $ 6,481 $ 6,285 Deferred Fulfillment Costs Prepaid and other current assets $ 4,945 $ 4,118 Other Assets 4,367 5,634 Total deferred customer contract fulfillment costs $ 9,312 $ 9,752 Deferred customer contract acquisition and fulfillment costs included in “Prepaid and other current assets” at March 31, 2021, include $1,350 of deferred acquisition costs ($594 of which were reclassified from “Other Assets”) and $2,417 of deferred fulfillment costs ($984 of which were reclassified from “Other Assets”) for our Video business, reflecting the held-for-sale treatment of the business (see Note 8). The following table presents deferred customer contract acquisition and fulfillment cost amortization included in “Other cost of revenue” for the three months ended: March 31, March 31, Consolidated Statements of Income 2021 2020 Deferred acquisition cost amortization $ 764 $ 636 Deferred fulfillment cost amortization 1,290 1,305 Contract Assets and Liabilities A contract asset is recorded when revenue is recognized in advance of our right to bill and receive consideration. The contract asset will decrease as services are provided and billed. For example, when installment sales include promotional discounts (e.g., “buy one get one free”) the difference between revenue recognized and consideration received is recorded as a contract asset to be amortized over the contract term. When consideration is received in advance of the delivery of goods or services, a contract liability is recorded for deferred revenue. Reductions in the contract liability will be recorded as we satisfy the performance obligations. The following table presents contract assets and liabilities on our consolidated balance sheets: March 31, December 31, Consolidated Balance Sheets 2021 2020 Contract asset $ 3,554 $ 3,501 Contract liability 5,517 6,879 Our consolidated balance sheets at March 31, 2021 and December 31, 2020 included $2,208 and $2,054, respectively, for the current portion of our contract asset in “Prepaid and other current assets” and $4,839 and $6,071, respectively, for the current portion of our contract liability in “Advanced billings and customer deposits.” Our beginning of period contract liability recorded as customer contract revenue during 2021 was $4,509. Remaining Performance Obligations Remaining performance obligations primarily relate to our Communications segment and represent services we are required to provide to customers under bundled or discounted arrangements, which are satisfied as services are provided over the contract term. In our WarnerMedia segment, the most significant remaining performance obligations relate to the licensing of theatrical and television content which will be made available to customers at some point in the future. In determining the transaction price allocated, we do not include non-recurring charges and estimates for usage, nor do we consider arrangements with an original expected duration of less than one year, which are primarily prepaid wireless, video and residential internet agreements. Remaining performance obligations associated with business contracts reflect recurring charges billed, adjusted to reflect estimates for sales incentives and revenue adjustments. Performance obligations associated with wireless contracts are estimated using a portfolio approach in which we review all relevant promotional activities, calculating the remaining performance obligation using the average service component for the portfolio and the average device price. As of March 31, 2021, the aggregate amount of the transaction price allocated to remaining performance obligations was $41,259, of which we expect to recognize approximately 87% by the end of 2022, with the balance recognized thereafter. Approximately $2,085 of the $41,259 remaining performance obligation relates to the Video business. |
Pension And Postretirement Bene
Pension And Postretirement Benefits | 3 Months Ended |
Mar. 31, 2021 | |
Defined Benefit Plan [Abstract] | |
Pension And Postretirement Benefits | NOTE 6. PENSION AND POSTRETIREMENT BENEFITS Many 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. We do not have significant funding requirements in 2021. We recognize actuarial gains and losses on pension and postretirement plan assets in our consolidated results as a component of “Other income (expense) – net” at our annual measurement date of December 31, unless earlier remeasurements are required. We anticipate total distributions from the pension plan will exceed the threshold of service and interest costs for 2021, requiring us to follow settlement accounting and remeasure our pension benefit plan assets and obligations at each quarter-end in 2021, as we expect settlements to occur during each quarter. As part of our first-quarter 2021 remeasurement, we increased the weighted-average discount rate used to measure our pension benefit obligation from 2.70% to 3.30%. The discount rate in effect for determining pension service and interest costs after remeasurement is 3.60% and 2.50% respectively. The remeasurement reflects an actual return on pension plan assets of (1.33)% (three-month rate) relative to our expected long-term rate of 6.75% (annual rate). The following table details pension and postretirement benefit costs included in the accompanying consolidated statements of income. The service cost component of net periodic pension (credit) cost is recorded in operating expenses in the consolidated statements of income while the remaining components are recorded in “Other income (expense) – net.” Three months ended March 31, 2021 2020 Pension cost: Service cost - benefits earned during the period $ 254 $ 257 Interest cost on projected benefit obligation 291 422 Expected return on assets (877) (889) Amortization of prior service credit (36) (28) Actuarial (gain) loss (2,844) — Net pension (credit) cost $ (3,212) $ (238) Postretirement cost: Service cost – benefits earned during the period $ 11 $ 13 Interest cost on accumulated postretirement benefit obligation 53 104 Expected return on assets (38) (44) Amortization of prior service credit (634) (582) Net postretirement (credit) cost $ (608) $ (509) Combined net pension and postretirement (credit) cost $ (3,820) $ (747) We also provide senior- and middle-management employees with nonqualified, unfunded supplemental retirement and savings plans. For the first quarter ended 2021 and 2020, net supplemental pension benefits costs not included in the table above were $12 and $19. |
Fair Value Measurements And Dis
Fair Value Measurements And Disclosure | 3 Months Ended |
Mar. 31, 2021 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements And Disclosure | NOTE 7. FAIR VALUE MEASUREMENTS AND DISCLOSURE The Fair Value Measurement and Disclosure framework in ASC 820, “Fair Value Measurement,” provides a three-tiered fair value hierarchy based on the reliability of the inputs used to determine fair value. Level 1 refers to fair values determined based on quoted prices in active markets for identical assets. Level 2 refers to fair values estimated using significant other observable inputs and Level 3 includes fair values estimated using significant unobservable inputs. The 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. Our valuation techniques 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, 2020. 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: March 31, 2021 December 31, 2020 Carrying Fair Carrying Fair Amount Value Amount Value Notes and debentures 1 $ 171,194 $ 192,420 $ 155,209 $ 187,224 Commercial paper 7,078 7,078 — — Investment securities 2 3,208 3,208 3,249 3,249 1 Includes credit agreement borrowings. Amounts at March 31, 2021 exclude $205 associated with Video business that was classified as held-for-sale (see Note 8). 2 Excludes investments accounted for under the equity method. The carrying amount of debt with an original maturity of less than one year approximates fair value. The fair value measurements used for notes and debentures are considered Level 2 and are determined using various methods, including quoted prices for identical or similar securities in both active and inactive markets. Following is the fair value leveling for investment securities that are measured at fair value and derivatives as of March 31, 2021 and December 31, 2020. Derivatives designated as hedging instruments are reflected as “Other assets,” “Other noncurrent liabilities,” “Prepaid and other current assets” and “Accounts payable and accrued liabilities” on our consolidated balance sheets. March 31, 2021 Level 1 Level 2 Level 3 Total Equity Securities Domestic equities $ 1,060 $ — $ — $ 1,060 International equities 198 — — 198 Fixed income equities 227 — — 227 Available-for-Sale Debt Securities — 1,404 — 1,404 Asset Derivatives Cross-currency swaps — 1,461 — 1,461 Foreign exchange contracts — 8 — 8 Liability Derivatives Cross-currency swaps — (2,038) — (2,038) Foreign exchange contracts — (7) — (7) December 31, 2020 Level 1 Level 2 Level 3 Total Equity Securities Domestic equities $ 1,010 $ — $ — $ 1,010 International equities 180 — — 180 Fixed income equities 236 — — 236 Available-for-Sale Debt Securities — 1,479 — 1,479 Asset Derivatives Cross-currency swaps — 1,721 — 1,721 Foreign exchange contracts — 6 — 6 Liability Derivatives Cross-currency swaps — (1,814) — (1,814) Foreign exchange contracts — (9) — (9) Investment Securities Our investment securities include both equity and debt securities that are measured at fair value, as well as equity securities without readily determinable fair values. A substantial portion of the fair values of our investment securities is estimated based on quoted market prices. Investments in equity securities not traded on a national securities exchange are valued at cost, less any impairment, and adjusted for changes resulting from observable, orderly transactions for identical or similar securities. Investments in debt securities not traded on a national securities exchange are valued using pricing models, quoted prices of securities with similar characteristics or discounted cash flows. The components comprising total gains and losses in the period on equity securities are as follows: Three months ended March 31, 2021 2020 Total gains (losses) recognized on equity securities $ 55 $ (203) Gains (Losses) recognized on equity securities sold — (33) Unrealized gains (losses) recognized on equity securities held at end of period $ 55 $ (170) At March 31, 2021, available-for-sale debt securities totaling $1,404 have maturities as follows - less than one year: $33; one to three years: $186; three to five years: $206; five or more years: $979. Our cash equivalents (money market securities), short-term investments (certificate and time deposits) and nonrefundable customer deposits are recorded at amortized cost, and the respective carrying amounts approximate fair values. Short-term investments and nonrefundable customer deposits are recorded in “Prepaid and other current assets” and our investment securities are recorded in “Other Assets” on the consolidated balance sheets. Derivative Financial Instruments We enter into derivative transactions 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. Fair Value Hedging Periodically, we enter into and designate 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. We also designate some of our cross-currency swaps as fair value hedges. The purpose of these contracts is to hedge foreign currency risk associated with changes in spot rates on foreign denominated debt. The changes in fair values of currency swaps attributable to the cross-currency basis spread are considered excluded components. Unrealized and realized gains or losses from fair value hedges impact the same category on the consolidated statements of income as the item being hedged. In instances where we have designated excluded components related to fair value hedges, unrealized gains or losses on such excluded components are recorded as a component of accumulated OCI and recognized into earnings through the swap accrual. Unrealized gains on derivatives designated as fair value hedges are recorded at fair market value as assets, and unrealized losses are recorded at fair market value as liabilities. Except for excluded components, changes in the fair value of derivative instruments designated as fair value hedges are offset against the change in fair value of the hedged assets or liabilities through earnings. In the three months ended March 31, 2021 and 2020, no ineffectiveness was measured on fair value hedges. Cash Flow Hedging We designate most of 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 our foreign-denominated debt. These agreements include initial and final exchanges of principal from fixed foreign currency denominated amounts to fixed U.S. dollar denominated amounts, to be exchanged at a specified rate that is usually determined by the market spot rate upon issuance. They also include an interest rate swap of a fixed or floating foreign currency-denominated interest rate to a fixed U.S. dollar denominated interest rate. We also designate some of our foreign exchange contracts as cash flow hedges. The purpose of these contracts is to hedge certain forecasted film production costs and film tax incentives denominated in foreign currencies. Unrealized gains on derivatives designated as cash flow hedges are recorded at fair value as assets, and unrealized losses are recorded at fair value as liabilities. For derivative instruments designated as cash flow hedges, changes in fair value are reported as a component of accumulated OCI and are reclassified into the consolidated statements of income in the same period the hedged transaction affects earnings. 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. Over the next 12 months, we expect to reclassify $87 from accumulated OCI to “Interest expense” due to the amortization of net losses on historical interest rate locks. Net Investment Hedging We have designated €1,433 million aggregate principal amount of debt as a hedge of the variability of some of the Euro-denominated net investments of our subsidiaries. The gain or loss on the debt that is designated as, and is effective as, an economic hedge of the net investment in a foreign operation is recorded as a currency translation adjustment within accumulated OCI, net on the consolidated balance sheets. Net gains on net investment hedges recognized in accumulated OCI in the first quarter were $70. Collateral and Credit-Risk Contingency We have entered into agreements with our derivative counterparties establishing collateral thresholds based on respective credit ratings and netting agreements. At March 31, 2021, we had posted collateral of $47 (a deposit asset) and held collateral of $781 (a receipt liability). Under the agreements, if AT&T’s credit rating had been downgraded two ratings levels by Fitch Ratings, one level by S&P and one level by Moody’s before the final collateral exchange in March, we would have been required to post additional collateral of $48. If AT&T’s credit rating had been downgraded three ratings levels by Fitch Ratings, two levels by S&P, and two levels by Moody’s, we would have been required to post additional collateral of $1,160. If DIRECTV Holdings LLC’s credit rating had been downgraded below BBB- by S&P, we would have been required to post additional collateral of $36. At December 31, 2020, we had posted collateral of $53 (a deposit asset) and held collateral of $694 (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) exists, against the fair value of the derivative instruments. Following are the notional amounts of our outstanding derivative positions: March 31, December 31, 2021 2020 Cross-currency swaps $ 42,186 $ 40,745 Foreign exchange contracts 228 90 Total $ 42,414 $ 40,835 Following are the related hedged items affecting our financial position and performance: Effect of Derivatives on the Consolidated Statements of Income Three months ended March 31, Fair Value Hedging Relationships 2021 2020 Interest rate swaps (Interest expense): Gain (Loss) on interest rate swaps $ (1) $ 10 Gain (Loss) on long-term debt 1 (10) Cross-currency swaps: Gain (Loss) on cross-currency swaps (48) — Gain (Loss) on long-term debt 48 — Gain (Loss) recognized in accumulated OCI (1) — In addition, the net swap settlements that accrued and settled in the periods above were offset against “Interest expense.” The following table presents information for our cash flow hedging relationships: Three months ended March 31, Cash Flow Hedging Relationships 2021 2020 Cross-currency swaps: Gain (Loss) recognized in accumulated OCI $ 644 $ (3,979) Foreign exchange contracts: Gain (Loss) recognized in accumulated OCI 4 (13) Other income (expense) - net reclassified from accumulated OCI into income (5) 16 Interest rate locks: Gain (Loss) recognized in accumulated OCI — (636) Interest income (expense) reclassified from accumulated OCI into income (25) (16) |
Acquisitions, Dispositions And
Acquisitions, Dispositions And Other Adjustments | 3 Months Ended |
Mar. 31, 2021 | |
Business Combinations [Abstract] | |
Acquisitions, Dispositions And Other Adjustments | NOTE 8. ACQUISITIONS, DISPOSITIONS AND OTHER ADJUSTMENTS Acquisitions Spectrum Auction On February 24, 2021, the Federal Communications Commission (FCC) announced that AT&T was the winning bidder for 1,621 C-Band licenses, comprised of a total of 80 MHz nationwide, including 40 MHz in Phase I. We provided to the FCC an upfront deposit of $550 in 2020 and cash payments totaling $22,856 in the first quarter of 2021, for a total of $23,406 to date. We estimate that we will be responsible for $955 of Incentive Payments upon clearing of Phase I spectrum and $2,112 upon clearing of Phase II spectrum. Additionally, we will be responsible for approximately $1,000 of compensable relocation costs over the next several years as the spectrum is being cleared by satellite operators. Cash paid, including deposits and refunds, for spectrum is included in “Acquisitions, net of cash acquired” on our consolidated statements of cash flows. Funding for the purchase price of the spectrum included a combination of cash on hand and short-term investments, as well as short- and long-term debt. We expect the FCC to begin granting the licenses in the second half of 2021 through 2023. The amounts deposited toward the acquisition of the licenses are reported as “Deposits on Wireless Licenses” on our consolidated balance sheet as of March 31, 2021. Interest incurred to finance this spectrum acquisition is capitalized until the licenses are granted and the activities required to ready the spectrum for use are complete. Held-for-Sale Video Business On February 25, 2021, we signed an agreement with TPG Capital (TPG) to form a new company named DIRECTV (New DTV), which will be jointly governed by a board with representation from both AT&T and TPG, with TPG having tie-breaking authority on certain decisions. Under the agreement, we will contribute our Video business unit to New DTV for $4,250 of junior preferred units, an additional distribution preference of $4,200 and a 70% economic interest in common units. We expect to receive $7,800 from New DTV at closing ($7,600 in cash and approximately $200 of transferred DIRECTV debt). TPG will contribute approximately $1,800 in cash to New DTV for $1,800 of senior preferred units and a 30% economic interest in common units. The remaining $5,800 will be funded by debt issued by New DTV. As part of this transaction, we agreed to pay net losses under the NFL SUNDAY TICKET contract up to a cap of $2,500 over the remaining period of the contract. The transaction is expected to close in the second half of 2021, pending customary closing conditions. The total of $7,600 of proceeds from the transaction are expected to reduce our total and net debt positions. In the first quarter of 2021, we applied held-for-sale accounting treatment to the assets and liabilities of the U.S. video business, and, accordingly, include the assets in “Prepaid and other current assets,” and the related liabilities in “Accounts payable and accrued liabilities,” on our consolidated balance sheet. The held-for-sale classification also resulted in ceasing depreciation and amortization on the designated assets. Assets and liabilities of the Video operations included the following as of March 31, 2021: Assets held-for-sale: Current assets $ 3,776 Property, plant and equipment - net 2,410 Licenses, net 5,798 Other intangible assets, net 1,633 Other assets 1,948 Total assets $ 15,565 Liabilities related to assets held-for-sale: Current liabilities $ 4,022 Long-term debt 205 Other noncurrent liabilities 351 Total liabilities $ 4,578 |
Sales Of Receivables
Sales Of Receivables | 3 Months Ended |
Mar. 31, 2021 | |
Receivables [Abstract] | |
Sales Of Receivables | NOTE 9. SALES OF RECEIVABLES We have agreements with various third-party financial institutions pertaining to the sales of certain types of our accounts receivable. The most significant of these programs are discussed in detail below and generally consist of (1) receivables arising from equipment installment plans, which are sold for cash and a deferred purchase price, and (2) revolving service and trade receivables. Under these programs, we transfer receivables to purchasers in exchange for cash and additional consideration upon settlement of the receivables, where applicable. Under the terms of our agreements for these programs, we continue to bill and collect the payments from our customers on behalf of the financial institutions. The sales of receivables did not have a material impact on our consolidated statements of income or to “Total Assets” reported on our consolidated balance sheets. We reflect cash receipts on sold receivables as cash flows from operations in our consolidated statements of cash flows. Cash receipts on the deferred purchase price are classified as cash flows from investing activities. Our equipment installment and revolving receivable programs are discussed in detail below. The following table sets forth a summary of the receivables and accounts being serviced: March 31, 2021 December 31, 2020 Equipment Equipment Installment Revolving Installment Revolving Gross receivables: $ 3,857 $ 3,718 $ 5,565 $ 3,909 Balance sheet classification Accounts receivable Notes receivable 1,846 — 2,716 — Trade receivables 452 3,543 554 3,715 Other Assets Noncurrent notes and trade receivables 1,559 175 2,295 194 Outstanding portfolio of receivables derecognized from our consolidated balance sheets 9,448 5,755 7,827 5,300 Cash proceeds received, net of remittances 1 7,176 5,755 5,646 5,300 1 Represents amounts to which financial institutions remain entitled, excluding the deferred purchase price. Equipment Installment Receivables Program We offer our customers the option to purchase certain wireless devices in installments over a specified period of time and, in many cases, once certain conditions are met, they may be eligible to trade in the original equipment for a new device and have the remaining unpaid balance paid or settled. We maintain a program under which we transfer a portion of these receivables through our bankruptcy-remote subsidiary in exchange for cash and additional consideration upon settlement of the receivables, referred to as the deferred purchase price. In the event a customer trades in a device prior to the end of the installment contract period, we agree to make a payment to the financial institutions equal to any outstanding remaining installment receivable balance. Accordingly, we record a guarantee obligation for this estimated amount at the time the receivables are transferred. The following table sets forth a summary of equipment installment receivables sold under this program during the three months ended March 31, 2021 and 2020: Three months ended March 31, 2021 2020 Gross receivables sold $ 3,935 $ 2,367 Net receivables sold 1 3,826 2,273 Cash proceeds received 3,519 1,950 Deferred purchase price recorded 414 353 Guarantee obligation recorded 146 44 1 Receivables net of allowance, imputed interest and equipment trade-in right guarantees. The deferred purchase price and guarantee obligation are initially recorded at estimated fair value and subsequently adjusted for changes in present value of expected cash flows. The estimation of their fair values is based on remaining installment payments expected to be collected and the expected timing and value of device trade-ins. 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 for the deferred purchase price and the guarantee obligation are considered Level 3 under the Fair Value Measurement and Disclosure framework (see Note 7). The following table presents the previously transferred equipment installment receivables, which we repurchased in exchange for the associated deferred purchase price during the three months ended March 31, 2021 and 2020: Three months ended March 31, 2021 2020 Fair value of repurchased receivables $ 273 $ 288 Carrying value of deferred purchase price 253 277 Gain on repurchases 1 $ 20 $ 11 1 These gains are included in "Selling, general and administrative" in the consolidated statements of income. At March 31, 2021 and December 31, 2020, our deferred purchase price receivable was $2,283 and $1,991, respectively, of which $1,515 and $1,476 are included in “Prepaid and other current assets” on our consolidated balance sheets, with the remainder in “Other Assets.” The guarantee obligation at March 31, 2021 and December 31, 2020 was $285 and $228, respectively, of which $129 and $161 are included in “Accounts payable and accrued liabilities” on our consolidated balance sheets, with the remainder in “Other noncurrent liabilities.” Our maximum exposure to loss as a result of selling these equipment installment receivables is limited to the total amount of our deferred purchase price and guarantee obligation. Revolving Receivables Program We have a revolving agreement to transfer up to $6,000 of certain receivables through our bankruptcy-remote subsidiaries to various financial institutions on a recurring basis in exchange for cash equal to the gross receivables transferred. This agreement is subject to renewal on an annual basis and the transfer limit may be expanded from time to time. As customers pay their balances, we transfer additional receivables into the program, resulting in our gross receivables sold exceeding net cash flow impacts (e.g., collect and reinvest). The transferred receivables are fully guaranteed by our bankruptcy-remote subsidiaries, which hold additional receivables in the amount of $3,718 that are pledged as collateral under this agreement. The transfers are recorded at fair value of the proceeds received and obligations assumed less derecognized receivables. The obligation is subsequently adjusted for changes in estimated expected credit losses and interest rates. Our maximum exposure to loss related to these receivables transferred is limited to the amount outstanding. The fair value measurement used for the obligation is considered Level 3 under the Fair Value Measurement and Disclosure framework (see Note 7). The following table sets forth a summary of receivables sold: Three months ended March 31, 2021 2020 Gross receivables sold/cash proceeds received 1 $ 5,204 $ 4,222 Collections reinvested under revolving agreement 4,504 3,222 Collections not reinvested 245 — Net cash proceeds received (remitted) $ 455 $ 1,000 Net receivables sold 2 $ 5,125 $ 4,138 Obligations recorded (reversed) 142 126 1 Includes initial sales of receivables of $700 and $1,000 for the three months ended March 31, 2021 and 2020, respectively. 2 Receivables net of allowance, return and incentive reserves and imputed interest. |
Leases
Leases | 3 Months Ended |
Mar. 31, 2021 | |
Leases [Abstract] | |
Leases | NOTE 10. LEASES We have operating and finance leases for certain facilities and equipment used in operations. Our leases generally have remaining lease terms of up to 15 years. Some of our real estate operating leases contain renewal options that may be exercised, and some of our leases include options to terminate the leases within one year. We have recognized a right-of-use asset for both operating and finance leases, and an operating lease liability that represents the present value of our obligation to make payments over the lease term. The present value of the lease payments is calculated using the incremental borrowing rate for operating and finance leases, which was determined using a portfolio approach based on the rate of interest that we would have to pay to borrow an amount equal to the lease payments on a collateralized basis over a similar term. We use the unsecured borrowing rate and risk-adjust that rate to approximate a collateralized rate in the currency of the lease, which will be updated on a quarterly basis for measurement of new lease liabilities. The components of lease expense were as follows: Three months ended March 31, 2021 2020 Operating lease cost $ 1,458 $ 1,377 Finance lease cost: Amortization of right-of-use assets $ 69 $ 67 Interest on lease obligation 39 41 Total finance lease cost $ 108 $ 108 The following table provides supplemental cash flows information related to leases: Three months ended March 31, 2021 2020 Cash Flows from Operating Activities Cash paid for amounts included in lease obligations: Operating cash flows for operating leases $ 1,254 $ 1,217 Supplemental Lease Cash Flow Disclosures Operating lease right-of-use assets obtained in exchange for new 1,050 1,013 The following tables set forth supplemental balance sheet information related to leases: March 31, December 31, Operating Leases Operating lease right-of-use assets $ 24,415 $ 24,714 Accounts payable and accrued liabilities $ 3,564 $ 3,537 Operating lease obligation 21,766 22,202 Total operating lease obligation $ 25,330 $ 25,739 Finance Leases Property, plant and equipment, at cost $ 3,414 $ 3,586 Accumulated depreciation and amortization (1,308) (1,361) Property, plant and equipment, net $ 2,106 $ 2,225 Current portion of long-term debt $ 180 $ 189 Long-term debt 1,747 1,847 Total finance lease obligation $ 1,927 $ 2,036 March 31, 2021 2020 Weighted-Average Remaining Lease Term (years) Operating leases 8.4 8.4 Finance leases 9.8 10.7 Weighted-Average Discount Rate Operating leases 4.0 % 4.2 % Finance leases 8.0 % 8.4 % The following table provides the expected future minimum maturities of lease obligations: At March 31, 2021 Operating Finance Leases Leases Remainder of 2021 $ 3,631 $ 242 2022 4,647 314 2023 4,212 291 2024 3,671 272 2025 3,015 269 Thereafter 11,668 1,587 Total lease payments 30,844 2,975 Less: imputed interest (5,514) (1,048) Total $ 25,330 $ 1,927 |
Leases | NOTE 10. LEASES We have operating and finance leases for certain facilities and equipment used in operations. Our leases generally have remaining lease terms of up to 15 years. Some of our real estate operating leases contain renewal options that may be exercised, and some of our leases include options to terminate the leases within one year. We have recognized a right-of-use asset for both operating and finance leases, and an operating lease liability that represents the present value of our obligation to make payments over the lease term. The present value of the lease payments is calculated using the incremental borrowing rate for operating and finance leases, which was determined using a portfolio approach based on the rate of interest that we would have to pay to borrow an amount equal to the lease payments on a collateralized basis over a similar term. We use the unsecured borrowing rate and risk-adjust that rate to approximate a collateralized rate in the currency of the lease, which will be updated on a quarterly basis for measurement of new lease liabilities. The components of lease expense were as follows: Three months ended March 31, 2021 2020 Operating lease cost $ 1,458 $ 1,377 Finance lease cost: Amortization of right-of-use assets $ 69 $ 67 Interest on lease obligation 39 41 Total finance lease cost $ 108 $ 108 The following table provides supplemental cash flows information related to leases: Three months ended March 31, 2021 2020 Cash Flows from Operating Activities Cash paid for amounts included in lease obligations: Operating cash flows for operating leases $ 1,254 $ 1,217 Supplemental Lease Cash Flow Disclosures Operating lease right-of-use assets obtained in exchange for new 1,050 1,013 The following tables set forth supplemental balance sheet information related to leases: March 31, December 31, Operating Leases Operating lease right-of-use assets $ 24,415 $ 24,714 Accounts payable and accrued liabilities $ 3,564 $ 3,537 Operating lease obligation 21,766 22,202 Total operating lease obligation $ 25,330 $ 25,739 Finance Leases Property, plant and equipment, at cost $ 3,414 $ 3,586 Accumulated depreciation and amortization (1,308) (1,361) Property, plant and equipment, net $ 2,106 $ 2,225 Current portion of long-term debt $ 180 $ 189 Long-term debt 1,747 1,847 Total finance lease obligation $ 1,927 $ 2,036 March 31, 2021 2020 Weighted-Average Remaining Lease Term (years) Operating leases 8.4 8.4 Finance leases 9.8 10.7 Weighted-Average Discount Rate Operating leases 4.0 % 4.2 % Finance leases 8.0 % 8.4 % The following table provides the expected future minimum maturities of lease obligations: At March 31, 2021 Operating Finance Leases Leases Remainder of 2021 $ 3,631 $ 242 2022 4,647 314 2023 4,212 291 2024 3,671 272 2025 3,015 269 Thereafter 11,668 1,587 Total lease payments 30,844 2,975 Less: imputed interest (5,514) (1,048) Total $ 25,330 $ 1,927 |
Additional Financial Informatio
Additional Financial Information | 3 Months Ended |
Mar. 31, 2021 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Additional Financial Information | NOTE 11. ADDITIONAL FINANCIAL INFORMATION Cash and Cash Flows We typically maintain our restricted cash balances for purchases and sales of certain investment securities and funding of certain deferred compensation benefit payments. The following table summarizes cash and cash equivalents and restricted cash balances contained on our consolidated balance sheets: March 31, December 31, 2021 2020 2020 2019 Cash and cash equivalents $ 11,342 $ 9,955 $ 9,740 $ 12,130 Restricted cash in Prepaid and other current assets 2 8 9 69 Restricted cash in Other Assets 84 77 121 96 Cash and Cash Equivalents and Restricted Cash $ 11,428 $ 10,040 $ 9,870 $ 12,295 The following table summarizes cash paid during the periods for interest, income taxes and spectrum: Consolidated Statements of Cash Flows Three months ended March 31, Cash paid (received) during the period for: 2021 2020 Interest $ 2,134 $ 2,376 Income taxes, net of refunds 5 (354) Spectrum acquisitions 22,876 97 Noncash Investing and Financing Activities In connection with capital improvements and the acquisition of other productive assets, we negotiate favorable payment terms (referred to as vendor financing), which are reported as financing activities in our statements of cash flows when paid. For the three months ended March 31, 2021 and 2020, we recorded vendor financing commitments related to capital investments of approximately $998 and $449. Total vendor financing payables included in our March 31, 2021 consolidated balance sheet were approximately $3,552, with $2,883 due within one year (in “Accounts payable and accrued liabilities”) and the remainder predominantly due within two Debt Transactions At March 31, 2021, our debt obligations totaled $180,199. Our debt activity during the three months ended March 31, 2021 primarily consisted of the following: Net commercial paper borrowings $ 7,072 Issuance of Notes and Debentures 1 : U.S. dollar denominated global notes $ 6,000 Initial average rate of 1.27% Euro denominated global notes 1,461 Rate of 0.00% 2021 Syndicated Term Loan 7,350 BAML Bilateral Term Loan 2,000 Private financing 750 Other 636 Debt Issuances $ 18,197 Repayments: Private financing $ (649) Other (253) Repayments of long-term debt $ (902) 1 Includes credit agreement borrowings. Credit Facilities On January 29, 2021, we entered into a $14,700 Term Loan Credit Agreement (2021 Syndicated Term Loan), with Bank of America, N.A., as agent. On March 23, 2021, we borrowed $7,350 under the 2021 Syndicated Term Loan and the remaining $7,350 of lenders’ commitments were terminated. As of March 31, 2021, $7,350 was outstanding and is due on March 22, 2022. In March 2021, we entered into and drew on a $2,000 term loan credit agreement (BAML Bilateral Term Loan) consisting of (i) a 0.75 year $1,000 facility due December 31, 2021 (BAML Tranche A Facility), and (ii) a 1.75 year $1,000 facility due December 31, 2022 (BAML Tranche B Facility), with Bank of America, N.A., as agent. At March 31, 2021, $2,000 was outstanding under these facilities. |
Preparation Of Interim Financ_2
Preparation Of Interim Financial Statements (Policies) | 3 Months Ended |
Mar. 31, 2021 | |
Accounting Policies [Abstract] | |
Principles of Consolidation | All significant intercompany transactions are eliminated in the consolidation process. Investments in subsidiaries and partnerships which we do not control but 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 quarter of our period end. We also record our proportionate share of our equity method investees’ other comprehensive income (OCI) items. |
Basis of Accounting | 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. Actual results could differ from those estimates. Certain prior period amounts have been conformed to the current period’s presentation (see Note 4 and Note 5). |
Recognition of Actuarial Gains and Losses | We recognize actuarial gains and losses on pension and postretirement plan assets in our consolidated results as a component of “Other income (expense) – net” at our annual measurement date of December 31, unless earlier remeasurements are required. |
Derivatives, Offsetting Fair Value Amounts | 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) exists, against the fair value of the derivative instruments. |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Earnings Per Share [Abstract] | |
Reconciliation of Numerators and Denominators of Basic and Diluted Earnings Per Share | A reconciliation of the numerators and denominators of basic and diluted earnings per share for the three months ended March 31, 2021 and 2020, is shown in the table below: Three months ended March 31, 2021 2020 Numerators Numerator for basic earnings per share: Net Income Attributable to Common Stock $ 7,500 $ 4,578 Dilutive potential common shares: Share-based payment 6 6 Numerator for diluted earnings per share $ 7,506 $ 4,584 Denominators (000,000) Denominator for basic earnings per share: Weighted average number of common shares outstanding 7,161 7,187 Dilutive potential common shares: Share-based payment (in shares) 27 27 Denominator for diluted earnings per share 7,188 7,214 |
Other Comprehensive Income (Tab
Other Comprehensive Income (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |
Accumulated Other Comprehensive Income | Changes in the balances of each component included in accumulated OCI are presented below. All amounts are net of tax and exclude noncontrolling interest. Foreign Currency Translation Adjustment Net Unrealized Gains (Losses) on Securities Net Unrealized Gains (Losses) on Derivative Instruments Defined Benefit Postretirement Plans Accumulated Other Comprehensive Income (Loss) Balance as of December 31, 2020 $ (3,926) $ 111 $ (779) $ 8,924 $ 4,330 Other comprehensive income (loss) before reclassifications (105) (55) 511 — 351 Amounts reclassified from accumulated OCI — 1 (2) 1 24 2 (504) 3 (482) Net other comprehensive income (loss) (105) (57) 535 (504) (131) Balance as of March 31, 2021 $ (4,031) $ 54 $ (244) $ 8,420 $ 4,199 Foreign Currency Translation Adjustment Net Unrealized Gains (Losses) on Securities Net Unrealized Gains (Losses) on Derivative Instruments Defined Benefit Postretirement Plans Accumulated Other Comprehensive Income (Loss) Balance as of December 31, 2019 $ (3,056) $ 48 $ (37) $ 8,515 $ 5,470 Other comprehensive income (loss) before reclassifications (1,803) 66 (3,657) — (5,394) Amounts reclassified from accumulated OCI — 1 — 1 — 2 (461) 3 (461) Net other comprehensive income (loss) (1,803) 66 (3,657) (461) (5,855) Balance as of March 31, 2020 $ (4,859) $ 114 $ (3,694) $ 8,054 $ (385) 1 (Gains) losses are included in “ Other income (expense) - net ” in the consolidated statements of income. 2 (Gains) losses are primarily included in “ Interest expense ” in the consolidated statements of income (see Note 7). 3 The amortization of prior service credits associated with postretirement benefits are included in “ Other income (expense) - net ” in the consolidated statements of income (see Note 6). |
Segment Information (Tables)
Segment Information (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Segment Reporting [Abstract] | |
Reconciliation of Revenues to Segment Contribution | For the three months ended March 31, 2021 Revenues Operations EBITDA Depreciation Operating Equity in Net Segment Communications Mobility $ 19,034 $ 11,018 $ 8,016 $ 2,014 $ 6,002 $ — $ 6,002 Business Wireline 6,046 3,710 2,336 1,278 1,058 — 1,058 Consumer Wireline 3,098 2,031 1,067 762 305 — 305 Total Communications 28,178 16,759 11,419 4,054 7,365 — 7,365 WarnerMedia 8,526 6,403 2,123 163 1,960 70 2,030 Latin America Vrio 743 661 82 117 (35) (4) (39) Mexico 631 620 11 145 (134) — (134) Total Latin America 1,374 1,281 93 262 (169) (4) (173) Segment Total 38,078 24,443 13,635 4,479 9,156 $ 66 $ 9,222 Corporate and Other Corporate 1 426 1,213 (787) 35 (822) Video 6,725 5,660 1,065 164 901 Acquisition-related items — 37 (37) 1,131 (1,168) Certain significant items — 57 (57) — (57) Eliminations and consolidations (1,290) (941) (349) — (349) AT&T Inc. $ 43,939 $ 30,469 $ 13,470 $ 5,809 $ 7,661 1 Operations and Support Expenses include $669 for the reclassification of prior service credit amortization. For the three months ended March 31, 2020 Revenues Operations and Support Expenses EBITDA Depreciation and Amortization Operating Income (Loss) Equity in Net Segment Contribution Communications Mobility $ 17,402 $ 9,569 $ 7,833 $ 2,045 $ 5,788 $ — $ 5,788 Business Wireline 6,266 3,887 2,379 1,286 1,093 — 1,093 Consumer Wireline 3,111 1,879 1,232 712 520 — 520 Total Communications 26,779 15,335 11,444 4,043 7,401 — 7,401 WarnerMedia 7,765 5,605 2,160 161 1,999 15 2,014 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) Segment Total 36,134 22,437 13,697 4,485 9,212 $ 19 $ 9,231 Corporate and Other Corporate 1 534 1,012 (478) 90 (568) Video 7,407 6,020 1,387 591 796 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 1 Operations and Support Expenses include $612 for the reclassification of prior service credit amortization. |
Reconciliation of Segment Contributions to Income Before Income Taxes | The following table is a reconciliation of Segment Contributions to “Income Before Income Taxes” reported in our consolidated statements of income: Three months ended 2021 2020 Communications $ 7,365 $ 7,401 WarnerMedia 2,030 2,014 Latin America (173) (184) Segment Contribution 9,222 9,231 Reconciling Items: Corporate and Other (822) (568) Video 901 796 Merger costs (37) (182) Amortization of intangibles acquired (1,131) (2,056) Asset impairments and abandonments — (123) Gain on spectrum transaction 1 — 900 Employee separation costs and benefit-related losses (57) (119) Segment equity in net income of affiliates (66) (19) Eliminations and consolidations (349) (374) AT&T Operating Income 7,661 7,486 Interest Expense 1,870 2,018 Equity in net income (loss) of affiliates 52 (6) Other income (expense) - net 4,221 803 Income Before Income Taxes $ 10,064 $ 6,265 1 Included as a reduction of "Selling, general and administrative expenses" in the consolidated statement of income. |
Schedule of Intersegment Revenues and Assets by Segment | The following tables presents intersegment revenues and assets by segment: Intersegment Reconciliation Three months ended 2021 2020 Intersegment Revenues Communications $ 3 $ 2 WarnerMedia 838 817 Latin America — — Total Intersegment Revenues 841 819 Consolidations 449 477 Eliminations and consolidations $ 1,290 $ 1,296 March 31, 2021 December 31, 2020 Assets Communications 1 $ 506,168 $ 506,102 WarnerMedia 148,588 148,037 Latin America 15,522 15,811 Corporate and eliminations 1 (123,293) (144,189) Total $ 546,985 $ 525,761 1 Amounts above, including December 31, 2020, have been updated to reflect the classification of our Video business as held-for-sale, which included the recast of historical results to remove Video from our Communications segment and instead report in Corporate and Other (see Note 8). |
Revenue Recognition (Tables)
Revenue Recognition (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Revenue from Contract with Customer [Abstract] | |
Disaggregation of Revenue by Category and Business Unit | The following tables set forth reported revenue by category and by business unit, prior period amounts have been recast to conform to the current period presentation with our segment updates (see Note 4). For the three months ended March 31, 2021 Communications Mobility Business Wireline Consumer Wireline WarnerMedia Latin America Corporate & Other Elim. Total Wireless service $ 13,965 $ — $ — $ — $ 439 $ 10 $ — $ 14,414 Video service — — — — 743 6,295 — 7,038 Business service — 5,872 — — — 70 — 5,942 IP Broadband — — 2,205 — — — — 2,205 Subscription — — — 3,830 — — — 3,010 DTC (HBO Max) 1 — — — — — — (235) Other 2 — — — — — — (585) Content — — — 3,420 — — — 2,777 DTC (HBO Max) 3 — — — (331) — — — Other 3 — — — (312) — — — Advertising 83 — — 1,750 — 388 (388) 1,833 Legacy voice and data — — 519 — — 123 — 642 Other — — 332 169 — 224 (82) 643 Total Service $ 14,048 $ 5,872 $ 3,056 $ 8,526 $ 1,182 $ 7,110 $ (1,290) $ 38,504 Equipment 4,986 174 42 — 192 41 — 5,435 Total $ 19,034 $ 6,046 $ 3,098 $ 8,526 $ 1,374 $ 7,151 $ (1,290) $ 43,939 1 Represents DTC (HBO Max) intercompany sales to the Communications segment ($145 with Mobility and $90 with Consumer Wireline). 2 Represents intercompany video distribution arrangements primarily to DIRECTV/U-Verse from WarnerMedia. 3 Represents intercompany transactions in the WarnerMedia segment. For the three months ended March 31, 2020 Communications Mobility Business Wireline Consumer Wireline WarnerMedia Latin America Corporate & Other Elim. Total Wireless service $ 13,892 $ — $ — $ — $ 467 $ 116 $ — $ 14,475 Video service — — — — 887 6,984 — 7,871 Business service — 6,091 — — — 77 — 6,168 IP Broadband — — 2,109 — — — — 2,109 Subscription — — — 3,401 — — — 2,607 DTC (HBO Max) — — — — — — — Other 1 — — — — — — (794) Content — — — 3,303 — — — 2,633 DTC (HBO Max) 2 — — — (401) — — — Other 2 — — — (269) — — — Advertising 76 — — 1,477 — 413 (413) 1,553 Legacy voice and data — — 581 — — 134 — 715 Other — — 419 254 — 168 (89) 752 Total Service $ 13,968 $ 6,091 $ 3,109 $ 7,765 $ 1,354 $ 7,892 $ (1,296) $ 38,883 Equipment 3,434 175 2 — 236 49 — 3,896 Total $ 17,402 $ 6,266 $ 3,111 $ 7,765 $ 1,590 $ 7,941 $ (1,296) $ 42,779 1 Represents intercompany video distribution arrangements primarily to DIRECTV/U-Verse from WarnerMedia. 2 Represents intercompany transactions in the WarnerMedia segment. |
Schedule of Deferred Customer Contract Acquisition and Fulfillment Costs | The following table presents the deferred customer contract acquisition and fulfillment costs included on our consolidated balance sheets: March 31, December 31, Consolidated Balance Sheets 2021 2020 Deferred Acquisition Costs Prepaid and other current assets $ 3,788 $ 3,087 Other Assets 2,693 3,198 Total deferred customer contract acquisition costs $ 6,481 $ 6,285 Deferred Fulfillment Costs Prepaid and other current assets $ 4,945 $ 4,118 Other Assets 4,367 5,634 Total deferred customer contract fulfillment costs $ 9,312 $ 9,752 The following table presents deferred customer contract acquisition and fulfillment cost amortization included in “Other cost of revenue” for the three months ended: March 31, March 31, Consolidated Statements of Income 2021 2020 Deferred acquisition cost amortization $ 764 $ 636 Deferred fulfillment cost amortization 1,290 1,305 |
Schedule of Contract Assets and Liabilities | The following table presents contract assets and liabilities on our consolidated balance sheets: March 31, December 31, Consolidated Balance Sheets 2021 2020 Contract asset $ 3,554 $ 3,501 Contract liability 5,517 6,879 |
Pension And Postretirement Be_2
Pension And Postretirement Benefits (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Defined Benefit Plan [Abstract] | |
Schedule of Pension and Postretirement Benefit (Credits) Costs | The following table details pension and postretirement benefit costs included in the accompanying consolidated statements of income. The service cost component of net periodic pension (credit) cost is recorded in operating expenses in the consolidated statements of income while the remaining components are recorded in “Other income (expense) – net.” Three months ended March 31, 2021 2020 Pension cost: Service cost - benefits earned during the period $ 254 $ 257 Interest cost on projected benefit obligation 291 422 Expected return on assets (877) (889) Amortization of prior service credit (36) (28) Actuarial (gain) loss (2,844) — Net pension (credit) cost $ (3,212) $ (238) Postretirement cost: Service cost – benefits earned during the period $ 11 $ 13 Interest cost on accumulated postretirement benefit obligation 53 104 Expected return on assets (38) (44) Amortization of prior service credit (634) (582) Net postretirement (credit) cost $ (608) $ (509) Combined net pension and postretirement (credit) cost $ (3,820) $ (747) |
Fair Value Measurements And D_2
Fair Value Measurements And Disclosure (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Fair Value Disclosures [Abstract] | |
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: March 31, 2021 December 31, 2020 Carrying Fair Carrying Fair Amount Value Amount Value Notes and debentures 1 $ 171,194 $ 192,420 $ 155,209 $ 187,224 Commercial paper 7,078 7,078 — — Investment securities 2 3,208 3,208 3,249 3,249 1 Includes credit agreement borrowings. Amounts at March 31, 2021 exclude $205 associated with Video business that was classified as held-for-sale (see Note 8). 2 Excludes investments accounted for under the equity method. |
Fair Value Leveling | Following is the fair value leveling for investment securities that are measured at fair value and derivatives as of March 31, 2021 and December 31, 2020. Derivatives designated as hedging instruments are reflected as “Other assets,” “Other noncurrent liabilities,” “Prepaid and other current assets” and “Accounts payable and accrued liabilities” on our consolidated balance sheets. March 31, 2021 Level 1 Level 2 Level 3 Total Equity Securities Domestic equities $ 1,060 $ — $ — $ 1,060 International equities 198 — — 198 Fixed income equities 227 — — 227 Available-for-Sale Debt Securities — 1,404 — 1,404 Asset Derivatives Cross-currency swaps — 1,461 — 1,461 Foreign exchange contracts — 8 — 8 Liability Derivatives Cross-currency swaps — (2,038) — (2,038) Foreign exchange contracts — (7) — (7) December 31, 2020 Level 1 Level 2 Level 3 Total Equity Securities Domestic equities $ 1,010 $ — $ — $ 1,010 International equities 180 — — 180 Fixed income equities 236 — — 236 Available-for-Sale Debt Securities — 1,479 — 1,479 Asset Derivatives Cross-currency swaps — 1,721 — 1,721 Foreign exchange contracts — 6 — 6 Liability Derivatives Cross-currency swaps — (1,814) — (1,814) Foreign exchange contracts — (9) — (9) |
Components Comprising Total Gains and Losses on Equity Securities | The components comprising total gains and losses in the period on equity securities are as follows: Three months ended March 31, 2021 2020 Total gains (losses) recognized on equity securities $ 55 $ (203) Gains (Losses) recognized on equity securities sold — (33) Unrealized gains (losses) recognized on equity securities held at end of period $ 55 $ (170) |
Notional Amount of Outstanding Derivative Positions | Following are the notional amounts of our outstanding derivative positions: March 31, December 31, 2021 2020 Cross-currency swaps $ 42,186 $ 40,745 Foreign exchange contracts 228 90 Total $ 42,414 $ 40,835 |
Effect on 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 Three months ended March 31, Fair Value Hedging Relationships 2021 2020 Interest rate swaps (Interest expense): Gain (Loss) on interest rate swaps $ (1) $ 10 Gain (Loss) on long-term debt 1 (10) Cross-currency swaps: Gain (Loss) on cross-currency swaps (48) — Gain (Loss) on long-term debt 48 — Gain (Loss) recognized in accumulated OCI (1) — The following table presents information for our cash flow hedging relationships: Three months ended March 31, Cash Flow Hedging Relationships 2021 2020 Cross-currency swaps: Gain (Loss) recognized in accumulated OCI $ 644 $ (3,979) Foreign exchange contracts: Gain (Loss) recognized in accumulated OCI 4 (13) Other income (expense) - net reclassified from accumulated OCI into income (5) 16 Interest rate locks: Gain (Loss) recognized in accumulated OCI — (636) Interest income (expense) reclassified from accumulated OCI into income (25) (16) |
Acquisitions, Dispositions An_2
Acquisitions, Dispositions And Other Adjustments (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Business Combinations [Abstract] | |
Schedule of Assets and Liabilities Held-for-Sale | Assets and liabilities of the Video operations included the following as of March 31, 2021: Assets held-for-sale: Current assets $ 3,776 Property, plant and equipment - net 2,410 Licenses, net 5,798 Other intangible assets, net 1,633 Other assets 1,948 Total assets $ 15,565 Liabilities related to assets held-for-sale: Current liabilities $ 4,022 Long-term debt 205 Other noncurrent liabilities 351 Total liabilities $ 4,578 |
Sales Of Receivables (Tables)
Sales Of Receivables (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Receivables [Abstract] | |
Schedule of Finance Receivables | Our equipment installment and revolving receivable programs are discussed in detail below. The following table sets forth a summary of the receivables and accounts being serviced: March 31, 2021 December 31, 2020 Equipment Equipment Installment Revolving Installment Revolving Gross receivables: $ 3,857 $ 3,718 $ 5,565 $ 3,909 Balance sheet classification Accounts receivable Notes receivable 1,846 — 2,716 — Trade receivables 452 3,543 554 3,715 Other Assets Noncurrent notes and trade receivables 1,559 175 2,295 194 Outstanding portfolio of receivables derecognized from our consolidated balance sheets 9,448 5,755 7,827 5,300 Cash proceeds received, net of remittances 1 7,176 5,755 5,646 5,300 1 Represents amounts to which financial institutions remain entitled, excluding the deferred purchase price. The following table sets forth a summary of equipment installment receivables sold under this program during the three months ended March 31, 2021 and 2020: Three months ended March 31, 2021 2020 Gross receivables sold $ 3,935 $ 2,367 Net receivables sold 1 3,826 2,273 Cash proceeds received 3,519 1,950 Deferred purchase price recorded 414 353 Guarantee obligation recorded 146 44 1 Receivables net of allowance, imputed interest and equipment trade-in right guarantees. The following table presents the previously transferred equipment installment receivables, which we repurchased in exchange for the associated deferred purchase price during the three months ended March 31, 2021 and 2020: Three months ended March 31, 2021 2020 Fair value of repurchased receivables $ 273 $ 288 Carrying value of deferred purchase price 253 277 Gain on repurchases 1 $ 20 $ 11 1 These gains are included in "Selling, general and administrative" in the consolidated statements of income. |
Schedule of Receivables Sold | The following table sets forth a summary of receivables sold: Three months ended March 31, 2021 2020 Gross receivables sold/cash proceeds received 1 $ 5,204 $ 4,222 Collections reinvested under revolving agreement 4,504 3,222 Collections not reinvested 245 — Net cash proceeds received (remitted) $ 455 $ 1,000 Net receivables sold 2 $ 5,125 $ 4,138 Obligations recorded (reversed) 142 126 1 Includes initial sales of receivables of $700 and $1,000 for the three months ended March 31, 2021 and 2020, respectively. 2 Receivables net of allowance, return and incentive reserves and imputed interest. |
Leases (Tables)
Leases (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Leases [Abstract] | |
Components of Lease Expense, Supplemental Cash Flow Information Related to Leases, and Supplemental Balance Sheet Information Related to Leases | The components of lease expense were as follows: Three months ended March 31, 2021 2020 Operating lease cost $ 1,458 $ 1,377 Finance lease cost: Amortization of right-of-use assets $ 69 $ 67 Interest on lease obligation 39 41 Total finance lease cost $ 108 $ 108 The following table provides supplemental cash flows information related to leases: Three months ended March 31, 2021 2020 Cash Flows from Operating Activities Cash paid for amounts included in lease obligations: Operating cash flows for operating leases $ 1,254 $ 1,217 Supplemental Lease Cash Flow Disclosures Operating lease right-of-use assets obtained in exchange for new 1,050 1,013 The following tables set forth supplemental balance sheet information related to leases: March 31, December 31, Operating Leases Operating lease right-of-use assets $ 24,415 $ 24,714 Accounts payable and accrued liabilities $ 3,564 $ 3,537 Operating lease obligation 21,766 22,202 Total operating lease obligation $ 25,330 $ 25,739 Finance Leases Property, plant and equipment, at cost $ 3,414 $ 3,586 Accumulated depreciation and amortization (1,308) (1,361) Property, plant and equipment, net $ 2,106 $ 2,225 Current portion of long-term debt $ 180 $ 189 Long-term debt 1,747 1,847 Total finance lease obligation $ 1,927 $ 2,036 March 31, 2021 2020 Weighted-Average Remaining Lease Term (years) Operating leases 8.4 8.4 Finance leases 9.8 10.7 Weighted-Average Discount Rate Operating leases 4.0 % 4.2 % Finance leases 8.0 % 8.4 % |
Schedule of Maturities of Operating Leases | The following table provides the expected future minimum maturities of lease obligations: At March 31, 2021 Operating Finance Leases Leases Remainder of 2021 $ 3,631 $ 242 2022 4,647 314 2023 4,212 291 2024 3,671 272 2025 3,015 269 Thereafter 11,668 1,587 Total lease payments 30,844 2,975 Less: imputed interest (5,514) (1,048) Total $ 25,330 $ 1,927 |
Schedule of Maturities of Finance Leases | The following table provides the expected future minimum maturities of lease obligations: At March 31, 2021 Operating Finance Leases Leases Remainder of 2021 $ 3,631 $ 242 2022 4,647 314 2023 4,212 291 2024 3,671 272 2025 3,015 269 Thereafter 11,668 1,587 Total lease payments 30,844 2,975 Less: imputed interest (5,514) (1,048) Total $ 25,330 $ 1,927 |
Additional Financial Informat_2
Additional Financial Information (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Schedule of Cash and Cash Flows and Debt Transactions | The following table summarizes cash and cash equivalents and restricted cash balances contained on our consolidated balance sheets: March 31, December 31, 2021 2020 2020 2019 Cash and cash equivalents $ 11,342 $ 9,955 $ 9,740 $ 12,130 Restricted cash in Prepaid and other current assets 2 8 9 69 Restricted cash in Other Assets 84 77 121 96 Cash and Cash Equivalents and Restricted Cash $ 11,428 $ 10,040 $ 9,870 $ 12,295 The following table summarizes cash paid during the periods for interest, income taxes and spectrum: Consolidated Statements of Cash Flows Three months ended March 31, Cash paid (received) during the period for: 2021 2020 Interest $ 2,134 $ 2,376 Income taxes, net of refunds 5 (354) Spectrum acquisitions 22,876 97 Net commercial paper borrowings $ 7,072 Issuance of Notes and Debentures 1 : U.S. dollar denominated global notes $ 6,000 Initial average rate of 1.27% Euro denominated global notes 1,461 Rate of 0.00% 2021 Syndicated Term Loan 7,350 BAML Bilateral Term Loan 2,000 Private financing 750 Other 636 Debt Issuances $ 18,197 Repayments: Private financing $ (649) Other (253) Repayments of long-term debt $ (902) 1 Includes credit agreement borrowings. |
Earnings Per Share (Details)
Earnings Per Share (Details) - USD ($) shares in Millions, $ in Millions | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Numerator for basic earnings per share: | ||
Net Income Attributable to Common Stock | $ 7,500 | $ 4,578 |
Dilutive potential common shares: | ||
Share-based payment | 6 | 6 |
Numerator for diluted earnings per share | $ 7,506 | $ 4,584 |
Denominator for basic earnings per share: | ||
Weighted average number of common shares outstanding (in shares) | 7,161 | 7,187 |
Dilutive potential common shares: | ||
Share-based payment (in shares) | 27 | 27 |
Denominator for diluted earnings per share (in shares) | 7,188 | 7,214 |
Other Comprehensive Income (Det
Other Comprehensive Income (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
AOCI Attributable to Parent, Net of Tax [Roll Forward] | ||
Other comprehensive income (loss) before reclassifications | $ 351 | $ (5,394) |
Amounts reclassified from accumulated OCI | (482) | (461) |
Net other comprehensive income (loss) | (131) | (5,855) |
Accumulated Other Comprehensive Income (Loss) | ||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | ||
Accumulated other comprehensive income, beginning balance | 4,330 | 5,470 |
Net other comprehensive income (loss) | (131) | (5,855) |
Accumulated other comprehensive income, ending balance | 4,199 | (385) |
Foreign Currency Translation Adjustment | ||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | ||
Accumulated other comprehensive income, beginning balance | (3,926) | (3,056) |
Other comprehensive income (loss) before reclassifications | (105) | (1,803) |
Amounts reclassified from accumulated OCI | 0 | 0 |
Net other comprehensive income (loss) | (105) | (1,803) |
Accumulated other comprehensive income, ending balance | (4,031) | (4,859) |
Net Unrealized Gains (Losses) on Securities | ||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | ||
Accumulated other comprehensive income, beginning balance | 111 | 48 |
Other comprehensive income (loss) before reclassifications | (55) | 66 |
Amounts reclassified from accumulated OCI | (2) | 0 |
Net other comprehensive income (loss) | (57) | 66 |
Accumulated other comprehensive income, ending balance | 54 | 114 |
Net Unrealized Gains (Losses) on Derivative Instruments | ||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | ||
Accumulated other comprehensive income, beginning balance | (779) | (37) |
Other comprehensive income (loss) before reclassifications | 511 | (3,657) |
Amounts reclassified from accumulated OCI | 24 | 0 |
Net other comprehensive income (loss) | 535 | (3,657) |
Accumulated other comprehensive income, ending balance | (244) | (3,694) |
Defined Benefit Postretirement Plans | ||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | ||
Accumulated other comprehensive income, beginning balance | 8,924 | 8,515 |
Other comprehensive income (loss) before reclassifications | 0 | 0 |
Amounts reclassified from accumulated OCI | (504) | (461) |
Net other comprehensive income (loss) | (504) | (461) |
Accumulated other comprehensive income, ending balance | $ 8,420 | $ 8,054 |
Segment Information (Summary Of
Segment Information (Summary Of Operating Revenues And Expenses) (Narrative) (Details) | 3 Months Ended |
Mar. 31, 2021segment | |
Segment Reporting [Abstract] | |
Number of reportable segments | 3 |
Segment Information (Summary _2
Segment Information (Summary Of Operating Revenues And Expenses) (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Segment Reporting Information [Line Items] | ||
Revenues | $ 43,939 | $ 42,779 |
Operations and Support Expenses | 30,469 | 28,071 |
EBITDA | 13,470 | 14,708 |
Depreciation and Amortization | 5,809 | 7,222 |
Operating Income | 7,661 | 7,486 |
Equity in Net Income (Loss) of Affiliates | 52 | (6) |
Income Before Income Taxes | 10,064 | 6,265 |
Reclassification of prior service credit amortization | 669 | 612 |
Operating Segments | ||
Segment Reporting Information [Line Items] | ||
Revenues | 38,078 | 36,134 |
Operations and Support Expenses | 24,443 | 22,437 |
EBITDA | 13,635 | 13,697 |
Depreciation and Amortization | 4,479 | 4,485 |
Operating Income | 9,156 | 9,212 |
Equity in Net Income (Loss) of Affiliates | 66 | 19 |
Income Before Income Taxes | 9,222 | 9,231 |
Corporate | ||
Segment Reporting Information [Line Items] | ||
Revenues | 426 | 534 |
Operations and Support Expenses | 1,213 | 1,012 |
EBITDA | (787) | (478) |
Depreciation and Amortization | 35 | 90 |
Operating Income | (822) | (568) |
Reconciling Items | ||
Segment Reporting Information [Line Items] | ||
Equity in Net Income (Loss) of Affiliates | (66) | (19) |
Video | ||
Segment Reporting Information [Line Items] | ||
Revenues | 6,725 | 7,407 |
Operations and Support Expenses | 5,660 | 6,020 |
EBITDA | 1,065 | 1,387 |
Depreciation and Amortization | 164 | 591 |
Operating Income | 901 | 796 |
Acquisition-related items | ||
Segment Reporting Information [Line Items] | ||
Revenues | 0 | 0 |
Operations and Support Expenses | 37 | 182 |
EBITDA | (37) | (182) |
Depreciation and Amortization | 1,131 | 2,056 |
Operating Income | (1,168) | (2,238) |
Certain significant items | ||
Segment Reporting Information [Line Items] | ||
Revenues | 0 | 0 |
Operations and Support Expenses | 57 | (658) |
EBITDA | (57) | 658 |
Depreciation and Amortization | 0 | 0 |
Operating Income | (57) | 658 |
Eliminations and consolidations | ||
Segment Reporting Information [Line Items] | ||
Revenues | (1,290) | (1,296) |
Operations and Support Expenses | (941) | (922) |
EBITDA | (349) | (374) |
Depreciation and Amortization | 0 | 0 |
Operating Income | (349) | (374) |
Communications | Operating Segments | ||
Segment Reporting Information [Line Items] | ||
Revenues | 28,178 | 26,779 |
Operations and Support Expenses | 16,759 | 15,335 |
EBITDA | 11,419 | 11,444 |
Depreciation and Amortization | 4,054 | 4,043 |
Operating Income | 7,365 | 7,401 |
Equity in Net Income (Loss) of Affiliates | 0 | 0 |
Income Before Income Taxes | 7,365 | 7,401 |
Communications | Mobility | Operating Segments | ||
Segment Reporting Information [Line Items] | ||
Revenues | 19,034 | 17,402 |
Operations and Support Expenses | 11,018 | 9,569 |
EBITDA | 8,016 | 7,833 |
Depreciation and Amortization | 2,014 | 2,045 |
Operating Income | 6,002 | 5,788 |
Equity in Net Income (Loss) of Affiliates | 0 | 0 |
Income Before Income Taxes | 6,002 | 5,788 |
Communications | Business Wireline | Operating Segments | ||
Segment Reporting Information [Line Items] | ||
Revenues | 6,046 | 6,266 |
Operations and Support Expenses | 3,710 | 3,887 |
EBITDA | 2,336 | 2,379 |
Depreciation and Amortization | 1,278 | 1,286 |
Operating Income | 1,058 | 1,093 |
Equity in Net Income (Loss) of Affiliates | 0 | 0 |
Income Before Income Taxes | 1,058 | 1,093 |
Communications | Consumer Wireline | Operating Segments | ||
Segment Reporting Information [Line Items] | ||
Revenues | 3,098 | 3,111 |
Operations and Support Expenses | 2,031 | 1,879 |
EBITDA | 1,067 | 1,232 |
Depreciation and Amortization | 762 | 712 |
Operating Income | 305 | 520 |
Equity in Net Income (Loss) of Affiliates | 0 | 0 |
Income Before Income Taxes | 305 | 520 |
WarnerMedia | Operating Segments | ||
Segment Reporting Information [Line Items] | ||
Revenues | 8,526 | 7,765 |
Operations and Support Expenses | 6,403 | 5,605 |
EBITDA | 2,123 | 2,160 |
Depreciation and Amortization | 163 | 161 |
Operating Income | 1,960 | 1,999 |
Equity in Net Income (Loss) of Affiliates | 70 | 15 |
Income Before Income Taxes | 2,030 | 2,014 |
Latin America | Operating Segments | ||
Segment Reporting Information [Line Items] | ||
Revenues | 1,374 | 1,590 |
Operations and Support Expenses | 1,281 | 1,497 |
EBITDA | 93 | 93 |
Depreciation and Amortization | 262 | 281 |
Operating Income | (169) | (188) |
Equity in Net Income (Loss) of Affiliates | (4) | 4 |
Income Before Income Taxes | (173) | (184) |
Latin America | Vrio | Operating Segments | ||
Segment Reporting Information [Line Items] | ||
Revenues | 743 | 887 |
Operations and Support Expenses | 661 | 783 |
EBITDA | 82 | 104 |
Depreciation and Amortization | 117 | 147 |
Operating Income | (35) | (43) |
Equity in Net Income (Loss) of Affiliates | (4) | 4 |
Income Before Income Taxes | (39) | (39) |
Latin America | Mexico | Operating Segments | ||
Segment Reporting Information [Line Items] | ||
Revenues | 631 | 703 |
Operations and Support Expenses | 620 | 714 |
EBITDA | 11 | (11) |
Depreciation and Amortization | 145 | 134 |
Operating Income | (134) | (145) |
Equity in Net Income (Loss) of Affiliates | 0 | 0 |
Income Before Income Taxes | $ (134) | $ (145) |
Segment Information (Reconcilia
Segment Information (Reconciliation Of Operating Income Loss to Consolidated Statement Of Income) (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | ||
Income Before Income Taxes | $ 10,064 | $ 6,265 |
AT&T Operating Income | 7,661 | 7,486 |
Asset impairments and abandonments | 0 | (123) |
Equity in net income (loss) of affiliates | 52 | (6) |
Interest Expense | 1,870 | 2,018 |
Other income (expense) - net | 4,221 | 803 |
Operating Segments | ||
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | ||
Income Before Income Taxes | 9,222 | 9,231 |
AT&T Operating Income | 9,156 | 9,212 |
Equity in net income (loss) of affiliates | 66 | 19 |
Operating Segments | Communications | ||
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | ||
Income Before Income Taxes | 7,365 | 7,401 |
AT&T Operating Income | 7,365 | 7,401 |
Equity in net income (loss) of affiliates | 0 | 0 |
Operating Segments | WarnerMedia | ||
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | ||
Income Before Income Taxes | 2,030 | 2,014 |
AT&T Operating Income | 1,960 | 1,999 |
Equity in net income (loss) of affiliates | 70 | 15 |
Operating Segments | Latin America | ||
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | ||
Income Before Income Taxes | (173) | (184) |
AT&T Operating Income | (169) | (188) |
Equity in net income (loss) of affiliates | (4) | 4 |
Corporate and Other | ||
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | ||
AT&T Operating Income | (822) | (568) |
Reconciling Items | ||
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | ||
Merger costs | (37) | (182) |
Amortization of intangibles acquired | (1,131) | (2,056) |
Asset impairments and abandonments | 0 | (123) |
Gain on spectrum transaction | 0 | 900 |
Employee separation costs and benefit-related losses | (57) | (119) |
Equity in net income (loss) of affiliates | (66) | (19) |
Video | ||
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | ||
AT&T Operating Income | 901 | 796 |
Eliminations and consolidations | ||
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | ||
AT&T Operating Income | $ (349) | $ (374) |
Segment Information (Intersegme
Segment Information (Intersegment Details) (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Revenues [Abstract] | ||
Total revenues | $ (43,939) | $ (42,779) |
Total Intersegment Revenues | ||
Revenues [Abstract] | ||
Total revenues | 841 | 819 |
Consolidations | ||
Revenues [Abstract] | ||
Total revenues | 449 | 477 |
Eliminations and consolidations | ||
Revenues [Abstract] | ||
Total revenues | 1,290 | 1,296 |
Communications | Total Intersegment Revenues | ||
Revenues [Abstract] | ||
Total revenues | 3 | 2 |
WarnerMedia | Total Intersegment Revenues | ||
Revenues [Abstract] | ||
Total revenues | 838 | 817 |
Latin America | Total Intersegment Revenues | ||
Revenues [Abstract] | ||
Total revenues | $ 0 | $ 0 |
Segment Information (Interseg_2
Segment Information (Intersegment Assets Details) (Details) - USD ($) $ in Millions | Mar. 31, 2021 | Dec. 31, 2020 |
Segment Reporting Information [Line Items] | ||
Assets | $ 546,985 | $ 525,761 |
Corporate and eliminations | ||
Segment Reporting Information [Line Items] | ||
Assets | (123,293) | (144,189) |
Communications | Operating Segments | ||
Segment Reporting Information [Line Items] | ||
Assets | 506,168 | 506,102 |
WarnerMedia | Operating Segments | ||
Segment Reporting Information [Line Items] | ||
Assets | 148,588 | 148,037 |
Latin America | Operating Segments | ||
Segment Reporting Information [Line Items] | ||
Assets | $ 15,522 | $ 15,811 |
Revenue Recognition (Revenue Ca
Revenue Recognition (Revenue Categories) (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | $ 43,939 | $ 42,779 |
Total Service | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 38,504 | 38,883 |
Wireless service | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 14,414 | 14,475 |
Video service | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 7,038 | 7,871 |
Business service | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 5,942 | 6,168 |
IP Broadband | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 2,205 | 2,109 |
Subscription | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 3,010 | 2,607 |
Content | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 2,777 | 2,633 |
Advertising | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 1,833 | 1,553 |
Legacy voice and data | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 642 | 715 |
Other | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 643 | 752 |
Equipment | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 5,435 | 3,896 |
Operating Segments | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 38,078 | 36,134 |
Operating Segments | Communications | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 28,178 | 26,779 |
Operating Segments | Communications | Mobility | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 19,034 | 17,402 |
Operating Segments | Communications | Mobility | Total Service | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 14,048 | 13,968 |
Operating Segments | Communications | Mobility | Wireless service | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 13,965 | 13,892 |
Operating Segments | Communications | Mobility | Video service | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 0 | 0 |
Operating Segments | Communications | Mobility | Business service | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 0 | 0 |
Operating Segments | Communications | Mobility | IP Broadband | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 0 | 0 |
Operating Segments | Communications | Mobility | Subscription | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 0 | 0 |
Operating Segments | Communications | Mobility | DTC (HBO Max) | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 0 | 0 |
Operating Segments | Communications | Mobility | Other | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 0 | 0 |
Operating Segments | Communications | Mobility | Content | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 0 | 0 |
Operating Segments | Communications | Mobility | DTC (HBO Max) | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 0 | 0 |
Operating Segments | Communications | Mobility | Other | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 0 | 0 |
Operating Segments | Communications | Mobility | Advertising | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 83 | 76 |
Operating Segments | Communications | Mobility | Legacy voice and data | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 0 | 0 |
Operating Segments | Communications | Mobility | Other | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 0 | 0 |
Operating Segments | Communications | Mobility | Equipment | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 4,986 | 3,434 |
Operating Segments | Communications | Business Wireline | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 6,046 | 6,266 |
Operating Segments | Communications | Business Wireline | Total Service | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 5,872 | 6,091 |
Operating Segments | Communications | Business Wireline | Wireless service | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 0 | 0 |
Operating Segments | Communications | Business Wireline | Video service | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 0 | 0 |
Operating Segments | Communications | Business Wireline | Business service | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 5,872 | 6,091 |
Operating Segments | Communications | Business Wireline | IP Broadband | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 0 | 0 |
Operating Segments | Communications | Business Wireline | Subscription | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 0 | 0 |
Operating Segments | Communications | Business Wireline | DTC (HBO Max) | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 0 | 0 |
Operating Segments | Communications | Business Wireline | Other | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 0 | 0 |
Operating Segments | Communications | Business Wireline | Content | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 0 | 0 |
Operating Segments | Communications | Business Wireline | DTC (HBO Max) | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 0 | 0 |
Operating Segments | Communications | Business Wireline | Other | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 0 | 0 |
Operating Segments | Communications | Business Wireline | Advertising | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 0 | 0 |
Operating Segments | Communications | Business Wireline | Legacy voice and data | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 0 | 0 |
Operating Segments | Communications | Business Wireline | Other | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 0 | 0 |
Operating Segments | Communications | Business Wireline | Equipment | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 174 | 175 |
Operating Segments | Communications | Consumer Wireline | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 3,098 | 3,111 |
Operating Segments | Communications | Consumer Wireline | Total Service | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 3,056 | 3,109 |
Operating Segments | Communications | Consumer Wireline | Wireless service | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 0 | 0 |
Operating Segments | Communications | Consumer Wireline | Video service | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 0 | 0 |
Operating Segments | Communications | Consumer Wireline | Business service | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 0 | 0 |
Operating Segments | Communications | Consumer Wireline | IP Broadband | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 2,205 | 2,109 |
Operating Segments | Communications | Consumer Wireline | Subscription | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 0 | 0 |
Operating Segments | Communications | Consumer Wireline | DTC (HBO Max) | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 0 | 0 |
Operating Segments | Communications | Consumer Wireline | Other | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 0 | 0 |
Operating Segments | Communications | Consumer Wireline | Content | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 0 | 0 |
Operating Segments | Communications | Consumer Wireline | DTC (HBO Max) | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 0 | 0 |
Operating Segments | Communications | Consumer Wireline | Other | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 0 | 0 |
Operating Segments | Communications | Consumer Wireline | Advertising | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 0 | 0 |
Operating Segments | Communications | Consumer Wireline | Legacy voice and data | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 519 | 581 |
Operating Segments | Communications | Consumer Wireline | Other | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 332 | 419 |
Operating Segments | Communications | Consumer Wireline | Equipment | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 42 | 2 |
Operating Segments | WarnerMedia | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 8,526 | 7,765 |
Operating Segments | WarnerMedia | Total Service | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 8,526 | 7,765 |
Operating Segments | WarnerMedia | Wireless service | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 0 | 0 |
Operating Segments | WarnerMedia | Video service | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 0 | 0 |
Operating Segments | WarnerMedia | Business service | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 0 | 0 |
Operating Segments | WarnerMedia | IP Broadband | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 0 | 0 |
Operating Segments | WarnerMedia | Subscription | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 3,830 | 3,401 |
Operating Segments | WarnerMedia | DTC (HBO Max) | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 0 | 0 |
Operating Segments | WarnerMedia | Other | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 0 | 0 |
Operating Segments | WarnerMedia | Content | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 3,420 | 3,303 |
Operating Segments | WarnerMedia | DTC (HBO Max) | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | (331) | (401) |
Operating Segments | WarnerMedia | Other | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | (312) | (269) |
Operating Segments | WarnerMedia | Advertising | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 1,750 | 1,477 |
Operating Segments | WarnerMedia | Legacy voice and data | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 0 | 0 |
Operating Segments | WarnerMedia | Other | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 169 | 254 |
Operating Segments | WarnerMedia | Equipment | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 0 | 0 |
Operating Segments | Latin America | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 1,374 | 1,590 |
Operating Segments | Latin America | Total Service | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 1,182 | 1,354 |
Operating Segments | Latin America | Wireless service | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 439 | 467 |
Operating Segments | Latin America | Video service | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 743 | 887 |
Operating Segments | Latin America | Business service | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 0 | 0 |
Operating Segments | Latin America | IP Broadband | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 0 | 0 |
Operating Segments | Latin America | Subscription | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 0 | 0 |
Operating Segments | Latin America | DTC (HBO Max) | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 0 | 0 |
Operating Segments | Latin America | Other | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 0 | 0 |
Operating Segments | Latin America | Content | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 0 | 0 |
Operating Segments | Latin America | DTC (HBO Max) | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 0 | 0 |
Operating Segments | Latin America | Other | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 0 | 0 |
Operating Segments | Latin America | Advertising | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 0 | 0 |
Operating Segments | Latin America | Legacy voice and data | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 0 | 0 |
Operating Segments | Latin America | Other | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 0 | 0 |
Operating Segments | Latin America | Equipment | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 192 | 236 |
Corporate and Other | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 7,151 | 7,941 |
Corporate and Other | Total Service | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 7,110 | 7,892 |
Corporate and Other | Wireless service | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 10 | 116 |
Corporate and Other | Video service | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 6,295 | 6,984 |
Corporate and Other | Business service | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 70 | 77 |
Corporate and Other | IP Broadband | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 0 | 0 |
Corporate and Other | Subscription | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 0 | 0 |
Corporate and Other | DTC (HBO Max) | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 0 | 0 |
Corporate and Other | Other | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 0 | 0 |
Corporate and Other | Content | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 0 | 0 |
Corporate and Other | DTC (HBO Max) | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 0 | 0 |
Corporate and Other | Other | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 0 | 0 |
Corporate and Other | Advertising | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 388 | 413 |
Corporate and Other | Legacy voice and data | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 123 | 134 |
Corporate and Other | Other | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 224 | 168 |
Corporate and Other | Equipment | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 41 | 49 |
Elim. | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | (1,290) | (1,296) |
Elim. | Total Service | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | (1,290) | (1,296) |
Elim. | Wireless service | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 0 | 0 |
Elim. | Video service | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 0 | 0 |
Elim. | Business service | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 0 | 0 |
Elim. | IP Broadband | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 0 | 0 |
Elim. | Subscription | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 0 | 0 |
Elim. | DTC (HBO Max) | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | (235) | 0 |
Elim. | DTC(HBO Max) intercompany sales to the Communications segment with Mobility | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | (145) | |
Elim. | DTC(HBO Max) intercompany sales to the Communications segment with Consumer Wireline | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | (90) | |
Elim. | Other | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | (585) | (794) |
Elim. | Content | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 0 | 0 |
Elim. | DTC (HBO Max) | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 0 | 0 |
Elim. | Other | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 0 | 0 |
Elim. | Advertising | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | (388) | (413) |
Elim. | Legacy voice and data | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 0 | 0 |
Elim. | Other | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | (82) | (89) |
Elim. | Equipment | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | $ 0 | $ 0 |
Revenue Recognition (Narrative)
Revenue Recognition (Narrative) (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2021 | Dec. 31, 2020 | |
Contract with Customer, Asset and Liability [Abstract] | ||
Contract asset balance - current portion | $ 2,208 | $ 2,054 |
Contract liability balance - current portion | 4,839 | 6,071 |
Beginning of period contract liability recorded as customer contract revenue during period | 4,509 | |
Revenue, Performance Obligation [Abstract] | ||
Aggregate amount of the transaction price allocated to remaining performance obligations | 41,259 | |
Held-for-sale | Video Business Unit | ||
Revenue, Performance Obligation [Abstract] | ||
Aggregate amount of the transaction price allocated to remaining performance obligations | 2,085 | |
Deferred Acquisition Costs | ||
Capitalized Contract Cost [Line Items] | ||
Excluded deferred costs | 6,481 | 6,285 |
Deferred Acquisition Costs | Prepaid and other current assets | ||
Capitalized Contract Cost [Line Items] | ||
Excluded deferred costs | 3,788 | 3,087 |
Deferred Acquisition Costs | Other Assets | ||
Capitalized Contract Cost [Line Items] | ||
Excluded deferred costs | 2,693 | 3,198 |
Deferred Acquisition Costs | Held-for-sale | Video Business Unit | Prepaid and other current assets | ||
Capitalized Contract Cost [Line Items] | ||
Excluded deferred costs | 1,350 | |
Deferred Acquisition Costs | Held-for-sale | Video Business Unit | Other Assets | Reclassification Adjustment | ||
Capitalized Contract Cost [Line Items] | ||
Excluded deferred costs | $ 594 | |
Deferred Acquisition Costs | Minimum | ||
Capitalized Contract Cost [Line Items] | ||
Amortization period for deferred customer contract acquisition and fulfillment costs | 3 years | |
Deferred Acquisition Costs | Maximum | ||
Capitalized Contract Cost [Line Items] | ||
Amortization period for deferred customer contract acquisition and fulfillment costs | 5 years | |
Deferred Fulfillment Costs | ||
Capitalized Contract Cost [Line Items] | ||
Excluded deferred costs | $ 9,312 | 9,752 |
Deferred Fulfillment Costs | Prepaid and other current assets | ||
Capitalized Contract Cost [Line Items] | ||
Excluded deferred costs | 4,945 | 4,118 |
Deferred Fulfillment Costs | Other Assets | ||
Capitalized Contract Cost [Line Items] | ||
Excluded deferred costs | 4,367 | $ 5,634 |
Deferred Fulfillment Costs | Held-for-sale | Video Business Unit | Prepaid and other current assets | ||
Capitalized Contract Cost [Line Items] | ||
Excluded deferred costs | 2,417 | |
Deferred Fulfillment Costs | Held-for-sale | Video Business Unit | Other Assets | Reclassification Adjustment | ||
Capitalized Contract Cost [Line Items] | ||
Excluded deferred costs | $ 984 | |
Deferred Fulfillment Costs | Minimum | ||
Capitalized Contract Cost [Line Items] | ||
Amortization period for deferred customer contract acquisition and fulfillment costs | 3 years | |
Deferred Fulfillment Costs | Maximum | ||
Capitalized Contract Cost [Line Items] | ||
Amortization period for deferred customer contract acquisition and fulfillment costs | 5 years |
Revenue Recognition (Deferred C
Revenue Recognition (Deferred Contract Acquisition and Fulfillment Costs) (Details) - USD ($) $ in Millions | 3 Months Ended | ||
Mar. 31, 2021 | Mar. 31, 2020 | Dec. 31, 2020 | |
Deferred Acquisition Costs | |||
Capitalized Contract Cost, Net [Abstract] | |||
Total deferred costs | $ 6,481 | $ 6,285 | |
Deferred cost amortization | 764 | $ 636 | |
Deferred Acquisition Costs | Prepaid and other current assets | |||
Capitalized Contract Cost, Net [Abstract] | |||
Total deferred costs | 3,788 | 3,087 | |
Deferred Acquisition Costs | Other Assets | |||
Capitalized Contract Cost, Net [Abstract] | |||
Total deferred costs | 2,693 | 3,198 | |
Deferred Fulfillment Costs | |||
Capitalized Contract Cost, Net [Abstract] | |||
Total deferred costs | 9,312 | 9,752 | |
Deferred cost amortization | 1,290 | $ 1,305 | |
Deferred Fulfillment Costs | Prepaid and other current assets | |||
Capitalized Contract Cost, Net [Abstract] | |||
Total deferred costs | 4,945 | 4,118 | |
Deferred Fulfillment Costs | Other Assets | |||
Capitalized Contract Cost, Net [Abstract] | |||
Total deferred costs | $ 4,367 | $ 5,634 |
Revenue Recognition (Contract A
Revenue Recognition (Contract Assets and Liabilities) (Details) - USD ($) $ in Millions | Mar. 31, 2021 | Dec. 31, 2020 |
Contract with Customer, Asset and Liability [Abstract] | ||
Contract asset | $ 3,554 | $ 3,501 |
Contract liability | $ 5,517 | $ 6,879 |
Revenue Recognition (Remaining
Revenue Recognition (Remaining Performance Obligations) (Details) | Mar. 31, 2021 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-04-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Aggregate amount of the transaction price allocated to remaining performance obligations (percentage) | 87.00% |
Expected timing of satisfaction for remaining performance obligations, period | 21 months |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Aggregate amount of the transaction price allocated to remaining performance obligations (percentage) | 13.00% |
Expected timing of satisfaction for remaining performance obligations, period |
Pension And Postretirement Be_3
Pension And Postretirement Benefits (Narrative) (Details) - USD ($) $ in Millions | 3 Months Ended | ||
Mar. 31, 2021 | Mar. 31, 2020 | Dec. 31, 2020 | |
Defined Benefit Plan Disclosure [Line Items] | |||
Net supplemental retirement pension benefits costs | $ (3,820) | $ (747) | |
Actuarial loss | $ (2,844) | 0 | |
Pension Plan | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Weighted-average discount rate for determining projected benefit obligation | 3.30% | 2.70% | |
Actual return on pension plan assets (three-month rate) | (1.33%) | ||
Expected long-term rate of return (annual rate) | 6.75% | ||
Net supplemental retirement pension benefits costs | $ (3,212) | (238) | |
Pension Plan | Service Cost | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Discount rate in effect | 3.60% | ||
Pension Plan | Interest Cost | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Discount rate in effect | 2.50% | ||
Supplemental Retirement and Savings Plans | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Net supplemental retirement pension benefits costs | $ 12 | $ 19 |
Pension And Postretirement Be_4
Pension And Postretirement Benefits (Pension And Postretirement Benefit Costs Included In Operating Expenses) (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Defined Benefit Plan Disclosure [Line Items] | ||
Net (credit) cost | $ (3,820) | $ (747) |
Pension Cost | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Service cost - benefits earned during the period | 254 | 257 |
Interest cost on projected / accumulated postretirement benefit obligation | 291 | 422 |
Expected return on assets | (877) | (889) |
Amortization of prior service credit | (36) | (28) |
Actuarial (gain) loss | (2,844) | 0 |
Net (credit) cost | (3,212) | (238) |
Postretirement Cost | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Service cost - benefits earned during the period | 11 | 13 |
Interest cost on projected / accumulated postretirement benefit obligation | 53 | 104 |
Expected return on assets | (38) | (44) |
Amortization of prior service credit | (634) | (582) |
Net (credit) cost | $ (608) | $ (509) |
Fair Value Measurements And D_3
Fair Value Measurements And Disclosure (Long-Term Debt And Other Financial Instruments) (Details) - USD ($) $ in Millions | Mar. 31, 2021 | Dec. 31, 2020 |
Held-for-sale | Video Business Unit | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Notes and debentures | $ 205 | |
Carrying Amount | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Notes and debentures | 171,194 | $ 155,209 |
Commercial paper | 7,078 | 0 |
Investment securities | 3,208 | 3,249 |
Fair Value | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Notes and debentures | 192,420 | 187,224 |
Commercial paper | 7,078 | 0 |
Investment securities | $ 3,208 | $ 3,249 |
Fair Value Measurements And D_4
Fair Value Measurements And Disclosure (Fair Value Leveling) (Details) - USD ($) $ in Millions | Mar. 31, 2021 | Dec. 31, 2020 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-Sale Debt Securities | $ 1,404 | $ 1,479 |
Cross-currency swaps | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Asset Derivatives | 1,461 | 1,721 |
Liability Derivatives | (2,038) | (1,814) |
Foreign exchange contracts | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Asset Derivatives | 8 | 6 |
Liability Derivatives | (7) | (9) |
Fixed income equities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity Securities | 227 | 236 |
Domestic equities | Securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity Securities | 1,060 | 1,010 |
International equities | Securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity Securities | 198 | 180 |
Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-Sale Debt Securities | 0 | 0 |
Level 1 | Cross-currency swaps | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Asset Derivatives | 0 | 0 |
Liability Derivatives | 0 | 0 |
Level 1 | Foreign exchange contracts | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Asset Derivatives | 0 | 0 |
Liability Derivatives | 0 | 0 |
Level 1 | Fixed income equities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity Securities | 227 | 236 |
Level 1 | Domestic equities | Securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity Securities | 1,060 | 1,010 |
Level 1 | International equities | Securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity Securities | 198 | 180 |
Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-Sale Debt Securities | 1,404 | 1,479 |
Level 2 | Cross-currency swaps | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Asset Derivatives | 1,461 | 1,721 |
Liability Derivatives | (2,038) | (1,814) |
Level 2 | Foreign exchange contracts | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Asset Derivatives | 8 | 6 |
Liability Derivatives | (7) | (9) |
Level 2 | Fixed income equities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity Securities | 0 | 0 |
Level 2 | Domestic equities | Securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity Securities | 0 | 0 |
Level 2 | International equities | Securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity Securities | 0 | 0 |
Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-Sale Debt Securities | 0 | 0 |
Level 3 | Cross-currency swaps | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Asset Derivatives | 0 | 0 |
Liability Derivatives | 0 | 0 |
Level 3 | Foreign exchange contracts | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Asset Derivatives | 0 | 0 |
Liability Derivatives | 0 | 0 |
Level 3 | Fixed income equities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity Securities | 0 | 0 |
Level 3 | Domestic equities | Securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity Securities | 0 | 0 |
Level 3 | International equities | Securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity Securities | $ 0 | $ 0 |
Fair Value Measurements And D_5
Fair Value Measurements And Disclosure (Gain and Losses on Equity Securities) (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Fair Value Disclosures [Abstract] | ||
Total gains (losses) recognized on equity securities | $ 55 | $ (203) |
Gains (Losses) recognized on equity securities sold | 0 | (33) |
Unrealized gains (losses) recognized on equity securities held at end of period | $ 55 | $ (170) |
Fair Value Measurements And D_6
Fair Value Measurements And Disclosure (Narrative) (Details) $ in Millions | 3 Months Ended | ||
Mar. 31, 2021USD ($) | Mar. 31, 2021EUR (€) | Dec. 31, 2020USD ($) | |
Fair Value Disclosures [Abstract] | |||
Available-for-sale debt securities | $ 1,404 | $ 1,479 | |
Available-for-sale debt securities - maturities less than 1 year | 33 | ||
Available-for-sale debt securities - maturities within 1 to 3 years | 186 | ||
Available-for-sale debt securities - maturities within 3 to 5 years | 206 | ||
Available-for-sale debt securities - maturities for 5 or more years | 979 | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | |||
Anticipated reclassification of holding losses during the next 12 months - cash flow hedges | 87 | ||
Net gains on net investment hedges recognized in accumulated OCI | 70 | ||
Collateral submitted to counterparty | 47 | 53 | |
Collateral received from counterparty | 781 | $ 694 | |
Collateral contingently payable to the counterparty | 48 | ||
Measurement Input, Entity Credit Risk | |||
Fair Value, Option, Quantitative Disclosures [Line Items] | |||
Collateral contingently payable to the counterparty | 1,160 | ||
Measurement Input, Entity Credit Risk | Communications | DirecTV | |||
Fair Value, Option, Quantitative Disclosures [Line Items] | |||
Collateral contingently payable to the counterparty | $ 36 | ||
Net Investment Hedging | |||
Fair Value, Option, Quantitative Disclosures [Line Items] | |||
Aggregate principal amount of debt | € | € 1,433,000,000 |
Fair Value Measurements And D_7
Fair Value Measurements And Disclosure (Notional Amount Of Our Outstanding Derivative Positions) (Details) - USD ($) $ in Millions | Mar. 31, 2021 | Dec. 31, 2020 |
Derivative [Line Items] | ||
Notional amounts of outstanding derivative positions | $ 42,414 | $ 40,835 |
Cross-currency swaps | ||
Derivative [Line Items] | ||
Notional amounts of outstanding derivative positions | 42,186 | 40,745 |
Foreign exchange contracts | ||
Derivative [Line Items] | ||
Notional amounts of outstanding derivative positions | $ 228 | $ 90 |
Fair Value Measurements And D_8
Fair Value Measurements And Disclosure (Effect Of Derivatives On The Consolidated Statements Of Income) (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Interest rate swaps | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Gain (Loss) on interest rate swaps | $ (1) | $ 10 |
Gain (Loss) on long-term debt | 1 | (10) |
Cross-currency swaps | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Gain (Loss) on interest rate swaps | (48) | 0 |
Gain (Loss) on long-term debt | 48 | 0 |
Gain (Loss) recognized in accumulated OCI | (1) | 0 |
Gain (Loss) recognized in accumulated OCI | 644 | (3,979) |
Foreign exchange contracts | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Gain (Loss) recognized in accumulated OCI | 4 | (13) |
Foreign exchange contracts | Other income (expense) - net | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Amount reclassified from accumulated OCI into income | (5) | 16 |
Interest rate locks | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Gain (Loss) recognized in accumulated OCI | 0 | (636) |
Interest rate locks | Interest income (expense) | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Amount reclassified from accumulated OCI into income | $ (25) | $ (16) |
Acquisitions, Dispositions An_3
Acquisitions, Dispositions And Other Adjustments (Narrative) (Details) | Feb. 24, 2021USD ($)license | Mar. 31, 2021USD ($) | Dec. 31, 2021USD ($) | Dec. 31, 2020USD ($) | Mar. 31, 2021USD ($) |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||
Proceeds from issuance of debt | $ 18,197,000,000 | ||||
Forecast | Sale of Business Unit | Video Business Unit | |||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||
Consideration received at closing | $ 7,800,000,000 | ||||
Cash proceeds received at closing | 7,600,000,000 | ||||
Amount of transferred DIRECTV debt | 200,000,000 | ||||
Forecast | DIRECTV (New DTV) | |||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||
Proceeds from issuance of debt | 5,800,000,000 | ||||
Forecast | DIRECTV (New DTV) | |||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||
Interest in newly formed company, additional distribution preference | $ 4,200,000,000 | ||||
Economic interest in common units held after disposal of business unit | 70.00% | ||||
Agreement to pay net losses under NFL Sunday Ticket Contract, cap amount | $ 2,500,000,000 | ||||
Forecast | DIRECTV (New DTV) | TPG Capital | |||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||
Cash contribution to newly formed company | $ 1,800,000,000 | ||||
Economic interest in common units | 30.00% | ||||
C-Band Licenses | |||||
Business Combination Segment Allocation [Line Items] | |||||
Winning bidder, number of licenses | license | 1,621 | ||||
Payments to acquire intangible assets | $ 22,856,000,000 | $ 550,000,000 | $ 23,406,000,000 | ||
Estimated relocation costs | $ 1,000,000,000 | ||||
Phase I Spectrum | |||||
Business Combination Segment Allocation [Line Items] | |||||
Estimated Incentive Payments upon clearing of spectrum | 955,000,000 | ||||
Phase II Spectrum | |||||
Business Combination Segment Allocation [Line Items] | |||||
Estimated Incentive Payments upon clearing of spectrum | $ 2,112,000,000 | ||||
Junior Preferred Interests | Forecast | DIRECTV (New DTV) | |||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||
Preferred interest in newly formed company | $ 4,250,000,000 | ||||
Senior Preferred Interests | Forecast | DIRECTV (New DTV) | TPG Capital | |||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||
Preferred interest in newly formed company | $ 1,800,000,000 |
Acquisitions, Dispositions An_4
Acquisitions, Dispositions And Other Adjustments (Schedule of Assets and Liabilities Held-for-Sale) (Details) - Held-for-sale - Video Business Unit $ in Millions | Mar. 31, 2021USD ($) |
Assets held-for-sale: | |
Current assets | $ 3,776 |
Property, plant and equipment - net | 2,410 |
Other assets | 1,948 |
Total assets | 15,565 |
Liabilities related to assets held-for-sale: | |
Current liabilities | 4,022 |
Long-term debt | 205 |
Other noncurrent liabilities | 351 |
Total liabilities | 4,578 |
Licenses, net | |
Assets held-for-sale: | |
Intangible assets, net | 5,798 |
Other intangible assets, net | |
Assets held-for-sale: | |
Intangible assets, net | $ 1,633 |
Sales Of Receivables (Equipment
Sales Of Receivables (Equipment Installment and AT&T Revolving Programs) (Details) - USD ($) $ in Millions | Mar. 31, 2021 | Dec. 31, 2020 |
Equipment Installment | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Gross receivable | $ 3,857 | $ 5,565 |
Other Assets | 1,559 | 2,295 |
Outstanding portfolio of receivables derecognized from our consolidated balance sheets | 9,448 | 7,827 |
Cash proceeds received, net of remittances | 7,176 | 5,646 |
Equipment Installment | Notes receivable | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Accounts receivable | 1,846 | 2,716 |
Equipment Installment | Trade receivables | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Accounts receivable | 452 | 554 |
Revolving | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Gross receivable | 3,718 | 3,909 |
Other Assets | 175 | 194 |
Outstanding portfolio of receivables derecognized from our consolidated balance sheets | 5,755 | 5,300 |
Cash proceeds received, net of remittances | 5,755 | 5,300 |
Revolving | Notes receivable | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Accounts receivable | 0 | 0 |
Revolving | Trade receivables | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Accounts receivable | $ 3,543 | $ 3,715 |
Sales Of Receivables (Finance R
Sales Of Receivables (Finance Receivables) (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Net receivables sold | $ 5,125 | $ 4,138 |
Cash proceeds received | 5,204 | 4,222 |
Guarantee obligation recorded | 142 | 126 |
Equipment Installment | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Gross receivables sold | 3,935 | 2,367 |
Net receivables sold | 3,826 | 2,273 |
Cash proceeds received | 3,519 | 1,950 |
Deferred purchase price recorded | 414 | 353 |
Guarantee obligation recorded | $ 146 | $ 44 |
Sales Of Receivables (Finance_2
Sales Of Receivables (Finance Receivables Repurchased) (Details) - Equipment Installment - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Fair value of repurchased receivables | $ 273 | $ 288 |
Carrying value of deferred purchase price | 253 | 277 |
Gain on repurchases | $ 20 | $ 11 |
Sales Of Receivables (Equipme_2
Sales Of Receivables (Equipment Installment and AT&T Revolving Programs) (Narrative) (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2021 | Dec. 31, 2020 | |
Equipment Installment Program | Guarantee Obligation | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Guarantee obligation | $ 285 | $ 228 |
Equipment Installment Program | Accounts payable and accrued liabilities | Guarantee Obligation | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Guarantee obligation | 129 | 161 |
Equipment Installment Program | Deferred Purchase Price Receivable | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Deferred purchase price receivable | 2,283 | 1,991 |
Equipment Installment Program | Deferred Purchase Price Receivable | Prepaid and other current assets | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Deferred purchase price receivable | 1,515 | $ 1,476 |
Revolving Receivables Program | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Revolving agreement, transfer amount (up to) | 6,000 | |
Receivables pledged as collateral | $ 3,718 |
Sales Of Receivables (Summary o
Sales Of Receivables (Summary of Receivables Sold) (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Receivables [Abstract] | ||
Gross receivables sold/cash proceeds received | $ 5,204 | $ 4,222 |
Collections reinvested under revolving agreement | 4,504 | 3,222 |
Collections not reinvested | 245 | 0 |
Net cash proceeds received (remitted) | 455 | 1,000 |
Net receivables sold | 5,125 | 4,138 |
Obligations recorded (reversed) | 142 | 126 |
Initial sale of receivables | $ 700 | $ 1,000 |
Leases (Narrative) (Details)
Leases (Narrative) (Details) - Maximum | Mar. 31, 2021 |
Lessee, Lease, Description [Line Items] | |
Operating Lease, remaining term of contract | 15 years |
Finance Lease, remaining term of contract | 15 years |
Leases (Components of Lease Exp
Leases (Components of Lease Expense) (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Leases [Abstract] | ||
Operating lease cost | $ 1,458 | $ 1,377 |
Finance lease cost: | ||
Amortization of right-of-use assets | 69 | 67 |
Interest on lease obligation | 39 | 41 |
Total finance lease cost | $ 108 | $ 108 |
Leases (Supplemental Cash Flow
Leases (Supplemental Cash Flow Information Related to Leases) (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Cash Flows from Operating Activities | ||
Operating cash flows for operating leases | $ 1,254 | $ 1,217 |
Supplemental Lease Cash Flow Disclosures | ||
Operating lease right-of-use assets obtained in exchange for new operating lease obligations | $ 1,050 | $ 1,013 |
Leases (Supplemental Balance Sh
Leases (Supplemental Balance Sheet Information Related to Leases) (Details) - USD ($) $ in Millions | Mar. 31, 2021 | Dec. 31, 2020 | Mar. 31, 2020 |
Operating Leases | |||
Operating lease right-of-use assets | $ 24,415 | $ 24,714 | |
Accounts payable and accrued liabilities | $ 3,564 | $ 3,537 | |
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List] | Accounts payable and accrued liabilities | Accounts payable and accrued liabilities | |
Operating lease obligation | $ 21,766 | $ 22,202 | |
Total operating lease obligation | 25,330 | 25,739 | |
Finance Leases | |||
Property, plant and equipment, at cost | 3,414 | 3,586 | |
Accumulated depreciation and amortization | (1,308) | (1,361) | |
Property, plant and equipment, net | $ 2,106 | $ 2,225 | |
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List] | us-gaap:PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization | us-gaap:PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization | |
Current portion of long-term debt | $ 180 | $ 189 | |
Finance Lease, Liability, Current, Statement of Financial Position [Extensible List] | Debt maturing within one year | Debt maturing within one year | |
Long-term debt | $ 1,747 | $ 1,847 | |
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List] | us-gaap:LongTermDebtNoncurrent | us-gaap:LongTermDebtNoncurrent | |
Total finance lease obligation | $ 1,927 | $ 2,036 | |
Weighted-Average Remaining Lease Term (years), Operating leases | 8 years 4 months 24 days | 8 years 4 months 24 days | |
Weighted-Average Remaining Lease Term (years), Finance leases | 9 years 9 months 18 days | 10 years 8 months 12 days | |
Weighted-Average Discount Rate, Operating leases | 4.00% | 4.20% | |
Weighted-Average Discount Rate, Finance leases | 8.00% | 8.40% |
Leases (Future Minimum Maturiti
Leases (Future Minimum Maturities of Lease Liabilities) (Details) - USD ($) $ in Millions | Mar. 31, 2021 | Dec. 31, 2020 |
Operating Leases | ||
Remainder of 2021 | $ 3,631 | |
2022 | 4,647 | |
2023 | 4,212 | |
2024 | 3,671 | |
2025 | 3,015 | |
Thereafter | 11,668 | |
Total lease payments | 30,844 | |
Less: imputed interest | (5,514) | |
Total | 25,330 | $ 25,739 |
Finance Leases | ||
Remainder of 2021 | 242 | |
2022 | 314 | |
2023 | 291 | |
2024 | 272 | |
2025 | 269 | |
Thereafter | 1,587 | |
Total lease payments | 2,975 | |
Less: imputed interest | (1,048) | |
Total | $ 1,927 | $ 2,036 |
Additional Financial Informat_3
Additional Financial Information (Details) - USD ($) $ in Millions | 3 Months Ended | |||
Mar. 31, 2021 | Mar. 31, 2020 | Dec. 31, 2020 | Dec. 31, 2019 | |
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents [Abstract] | ||||
Cash and cash equivalents | $ 11,342 | $ 9,955 | $ 9,740 | $ 12,130 |
Restricted cash in Prepaid and other current assets | 2 | 8 | 9 | 69 |
Restricted cash in Other Assets | 84 | 77 | 121 | 96 |
Cash and Cash Equivalents and Restricted Cash | 11,428 | 10,040 | $ 9,870 | $ 12,295 |
Cash paid (received) during the period for: | ||||
Interest | 2,134 | 2,376 | ||
Income taxes, net of refunds | 5 | (354) | ||
Spectrum acquisitions | 22,884 | 100 | ||
Spectrum Licenses | ||||
Cash paid (received) during the period for: | ||||
Spectrum acquisitions | $ 22,876 | $ 97 |
Additional Financial Informat_4
Additional Financial Information (Narrative) (Details) - USD ($) | Mar. 23, 2021 | Mar. 31, 2021 | Mar. 31, 2021 | Mar. 31, 2020 | Jan. 29, 2021 |
Additional Financial Information [Line Items] | |||||
Vendor financing payables | $ 3,552,000,000 | $ 3,552,000,000 | |||
Vendor financing payables due within one year | 2,883,000,000 | 2,883,000,000 | |||
Long-term debt obligations | 180,199,000,000 | 180,199,000,000 | |||
2021 Syndicated Term Loan | |||||
Additional Financial Information [Line Items] | |||||
Maximum borrowing capacity | $ 14,700,000,000 | ||||
Draw on line of credit | $ 7,350,000,000 | 7,350,000,000 | |||
Amount of debt terminated after draw | $ 7,350,000,000 | ||||
Amount outstanding | 7,350,000,000 | 7,350,000,000 | |||
BAML Bilateral Term Loan | |||||
Additional Financial Information [Line Items] | |||||
Maximum borrowing capacity | 2,000,000,000 | 2,000,000,000 | |||
Draw on line of credit | 2,000,000,000 | 2,000,000,000 | |||
Amount outstanding | 2,000,000,000 | 2,000,000,000 | |||
BAML Tranche A Facility | |||||
Additional Financial Information [Line Items] | |||||
Maximum borrowing capacity | $ 1,000,000,000 | 1,000,000,000 | |||
Term of debt instrument | 9 months | ||||
BAML Tranche B Facility | |||||
Additional Financial Information [Line Items] | |||||
Maximum borrowing capacity | $ 1,000,000,000 | $ 1,000,000,000 | |||
Term of debt instrument | 1 year 9 months | ||||
Minimum | |||||
Additional Financial Information [Line Items] | |||||
Vendor financing payables, noncurrent, period due within | 2 years | ||||
Maximum | |||||
Additional Financial Information [Line Items] | |||||
Vendor financing payables, noncurrent, period due within | 3 years | ||||
Vendor Financing Program | |||||
Additional Financial Information [Line Items] | |||||
Noncash investing activities | $ 998,000,000 | $ 449,000,000 |
Additional Financial Informat_5
Additional Financial Information - Debt Activity (Details) - USD ($) $ in Millions | Mar. 23, 2021 | Mar. 31, 2021 | Mar. 31, 2021 | Mar. 31, 2020 |
Debt Transactions [Line Items] | ||||
Net commercial paper borrowings | $ 7,072 | |||
Issuances of Notes and Debentures | 9,097 | $ 4,357 | ||
Private financing | 750 | |||
Other | 636 | |||
Debt Issuances | 18,197 | |||
Repayments: | ||||
Private financing | (649) | |||
Other | (253) | |||
Repayments of long-term debt | (902) | $ (4,422) | ||
U.S. dollar denominated global notes | ||||
Debt Transactions [Line Items] | ||||
Issuances of Notes and Debentures | $ 6,000 | |||
Initial average rate | 1.27% | 1.27% | ||
Euro denominated global notes | ||||
Debt Transactions [Line Items] | ||||
Issuances of Notes and Debentures | $ 1,461 | |||
Rate | 0.00% | 0.00% | ||
2021 Syndicated Term Loan | ||||
Debt Transactions [Line Items] | ||||
Term Loan Credit Agreement / BAML term loan | $ 7,350 | $ 7,350 | ||
BAML Bilateral Term Loan | ||||
Debt Transactions [Line Items] | ||||
Term Loan Credit Agreement / BAML term loan | $ 2,000 | $ 2,000 |