Document and Entity Information
Document and Entity Information - USD ($) $ in Billions | 12 Months Ended | ||
Dec. 31, 2021 | Feb. 11, 2022 | Jun. 30, 2021 | |
Entity Listings [Line Items] | |||
Document Type | 10-K | ||
Document Annual Report | true | ||
Document Period End Date | Dec. 31, 2021 | ||
Current Fiscal Year End Date | --12-31 | ||
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 Well-known Seasoned Issuer | Yes | ||
Entity Voluntary Filers | No | ||
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 | ||
ICFR Auditor Attestation Flag | true | ||
Entity Shell Company | false | ||
Entity Public Float | $ 205 | ||
Entity Common Stock, Shares Outstanding | 7,142,892,741 | ||
Documents Incorporated by Reference | Portions of AT&T Inc.’s Notice of 2021 Annual Meeting and Proxy Statement dated on or about April 1, 2022 to be filed within the period permitted under General Instruction G(3) (Parts III and IV). | ||
Amendment Flag | false | ||
Document Fiscal Year Focus | 2021 | ||
Document Fiscal Period Focus | FY | ||
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 a share of5.000% 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 a share of4.750% 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 | T50A | ||
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 |
Audit Information
Audit Information | 12 Months Ended |
Dec. 31, 2021 | |
Auditor [Line Items] | |
Auditor Name | Ernst & Young LLP |
Auditor Location | Dallas, Texas |
Auditor Firm ID | 42 |
Consolidated Statements Of Inco
Consolidated Statements Of Income - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Operating Revenues | |||
Total operating revenues | $ 168,864 | $ 171,760 | $ 181,193 |
Cost of revenues | |||
Other cost of revenues (exclusive of depreciation and amortization shown separately below) | 31,232 | 32,909 | 34,356 |
Selling, general and administrative | 37,944 | 38,039 | 39,422 |
Asset impairments and abandonments | 4,904 | 18,880 | 1,458 |
Depreciation and amortization | 22,862 | 28,516 | 28,217 |
Total operating expenses | 145,517 | 165,355 | 153,238 |
Operating Income (Loss) | 23,347 | 6,405 | 27,955 |
Other Income (Expense) | |||
Interest expense | (6,884) | (7,925) | (8,422) |
Equity in net income of affiliates | 631 | 95 | 6 |
Other income (expense) – net | 9,853 | (1,431) | (1,071) |
Total other income (expense) | 3,600 | (9,261) | (9,487) |
Income (Loss) Before Income Taxes | 26,947 | (2,856) | 18,468 |
Income tax expense | 5,468 | 965 | 3,493 |
Net Income (Loss) | 21,479 | (3,821) | 14,975 |
Less: Net Income Attributable to Noncontrolling Interest | (1,398) | (1,355) | (1,072) |
Net Income (Loss) Attributable to AT&T | 20,081 | (5,176) | 13,903 |
Less: Preferred Stock Dividends | (207) | (193) | (3) |
Net Income (Loss) Attributable to Common Stock | $ 19,874 | $ (5,369) | $ 13,900 |
Basic Earnings Per Share Attributable to Common Stock (in dollars per share) | $ 2.77 | $ (0.75) | $ 1.90 |
Diluted Earnings Per Share Attributable to Common Stock (in dollars per share) | $ 2.76 | $ (0.75) | $ 1.89 |
Service | |||
Operating Revenues | |||
Total operating revenues | $ 146,391 | $ 152,767 | $ 163,499 |
Equipment | |||
Operating Revenues | |||
Total operating revenues | 22,473 | 18,993 | 17,694 |
Cost of revenues | |||
Cost of goods and services sold | 23,778 | 19,706 | 18,653 |
Broadcast, programming and operations | |||
Cost of revenues | |||
Cost of goods and services sold | $ 24,797 | $ 27,305 | $ 31,132 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Statement of Comprehensive Income [Abstract] | |||
Net income (loss) | $ 21,479 | $ (3,821) | $ 14,975 |
Foreign Currency: | |||
Translation adjustment (includes $(2), $(59) and $(9) attributable to noncontrolling interest), net of taxes of $(44), $(42) and $18 | (127) | (929) | 19 |
Reclassification adjustment included in net income (loss), net of taxes of $204, $0 and $0 | 2,087 | 0 | 0 |
Securities: | |||
Net unrealized gains (losses), net of taxes of $(21), $27 and $17 | (63) | 78 | 50 |
Reclassification adjustment included in net income (loss), net of taxes of $(1), $(5) and $0 | (3) | (15) | 0 |
Derivative Instruments: | |||
Net unrealized gains (losses), net of taxes of $(192), $(212) and $(240) | (715) | (811) | (900) |
Reclassification adjustment included in net income (loss), net of taxes of $19, $18 and $12 | 72 | 69 | 45 |
Defined benefit postretirement plans: | |||
Net prior service (cost) credit arising during period, net of taxes of $(8), $735 and $1,134 | (34) | 2,250 | 3,457 |
Amortization of net prior service credit included in net income (loss), net of taxes of $(660), $(601) and $(475) | (2,020) | (1,841) | (1,459) |
Other comprehensive income (loss) | (803) | (1,199) | 1,212 |
Total comprehensive income (loss) | 20,676 | (5,020) | 16,187 |
Less: Total comprehensive income attributable to noncontrolling interest | (1,396) | (1,296) | (1,063) |
Total Comprehensive Income (Loss) Attributable to AT&T | $ 19,280 | $ (6,316) | $ 15,124 |
Consolidated Statements of Co_2
Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Statement of Comprehensive Income [Abstract] | |||
Foreign currency translation adjustments, attributable to noncontrolling interest, net of taxes | $ (2) | $ (59) | $ (9) |
Foreign currency translation adjustments - tax effect | (44) | (42) | 18 |
Foreign Currency Transaction and Translation Reclassification Adjustment from AOCI, Realized upon Sale or Liquidation, Tax | 204 | 0 | 0 |
Unrealized gains (losses) on securities - tax effect | (21) | 27 | 17 |
Reclassification adjustment included in net income on securities - tax effect | (1) | (5) | 0 |
Unrealized gains (losses) on derivatives - tax effect | (192) | (212) | (240) |
Reclassification adjustment included in net income on derivatives - tax effect | 19 | 18 | 12 |
Net prior service credit (cost) arising during period - tax effect | (8) | 735 | 1,134 |
Amortization of net prior service credit included in net income - tax effect | $ (660) | $ (601) | $ (475) |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Current Assets | ||
Cash and cash equivalents | $ 21,169 | $ 9,740 |
Accounts receivable – net of related allowance for credit loss of $771 and $1,221 | 17,571 | 20,215 |
Inventories | 3,464 | 3,695 |
Prepaid and other current assets | 17,793 | 18,358 |
Total current assets | 59,997 | 52,008 |
Noncurrent Inventories and Theatrical Film and Television Production Costs | 18,983 | 14,752 |
Property, Plant and Equipment – Net | 125,904 | 127,315 |
Goodwill | 133,223 | 135,259 |
Licenses – Net | 113,830 | 93,840 |
Other Intangible Assets – Net | 11,783 | 15,386 |
Investments in and Advances to Equity Affiliates | 7,274 | 1,780 |
Operating Lease Right-Of-Use Assets | 24,180 | 24,714 |
Other Assets | 22,568 | 23,617 |
Total Assets | 551,622 | 525,761 |
Current Liabilities | ||
Debt maturing within one year | 24,630 | 3,470 |
Note payable to DIRECTV | 1,245 | 0 |
Accounts payable and accrued liabilities | 50,661 | 50,051 |
Advanced billings and customer deposits | 5,303 | 6,176 |
Dividends payable | 3,749 | 3,741 |
Total current liabilities | 85,588 | 63,438 |
Long-Term Debt | 152,724 | 153,775 |
Deferred Credits and Other Noncurrent Liabilities | ||
Deferred income taxes | 65,226 | 60,472 |
Postemployment benefit obligation | 12,649 | 18,276 |
Operating lease liabilities | 21,261 | 22,202 |
Other noncurrent liabilities | 30,223 | 28,358 |
Due to Related Parties, Noncurrent | 96 | 0 |
Total deferred credits and other noncurrent liabilities | 129,455 | 129,308 |
Stockholders’ Equity | ||
Common stock ($1 par value, 14,000,000,000 authorized at December 31, 2021 and December 31, 2020: issued 7,620,748,598 at December 31, 2021 and December 31, 2020) | 7,621 | 7,621 |
Additional paid-in capital | 130,112 | 130,175 |
Retained earnings | 42,350 | 37,457 |
Treasury stock (479,684,705 at December 31, 2021 and 494,826,583 at December 31, 2020, at cost) | (17,280) | (17,910) |
Accumulated other comprehensive income | 3,529 | 4,330 |
Noncontrolling interest | 17,523 | 17,567 |
Total stockholders’ equity | 183,855 | 179,240 |
Total Liabilities and Stockholders’ Equity | 551,622 | 525,761 |
Series A (48,000 issued and outstanding at December 31, 2021 and December 31, 2020) | ||
Stockholders’ Equity | ||
Preferred stock ($1 par value, 10,000,000 authorized at December 31, 2021 and December 31, 2020): | 0 | 0 |
Series B (20,000 issued and outstanding at December 31, 2021 and December 31, 2020) | ||
Stockholders’ Equity | ||
Preferred stock ($1 par value, 10,000,000 authorized at December 31, 2021 and December 31, 2020): | 0 | 0 |
Series C (70,000 issued and outstanding at December 31, 2021 and December 31, 2020) | ||
Stockholders’ Equity | ||
Preferred stock ($1 par value, 10,000,000 authorized at December 31, 2021 and December 31, 2020): | 0 | 0 |
Trademarks And Trade Names - Net | ||
Current Assets | ||
Finite-Lived Intangible Assets - Net | 21,938 | 23,297 |
Distribution Networks – Net | ||
Current Assets | ||
Finite-Lived Intangible Assets - Net | $ 11,942 | $ 13,793 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Allowances for credit losses | $ 771 | $ 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) | 479,684,705 | 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 | |
Preferred stock, outstanding (in shares) | 20,000 | 20,000 |
Preferred Stock – Series C | ||
Preferred stock, issued (in shares) | 70,000 | |
Preferred stock, outstanding (in shares) | 70,000 | 70,000 |
Consolidated Statements Of Cash
Consolidated Statements Of Cash Flows - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Operating Activities | |||
Net income (loss) | $ 21,479 | $ (3,821) | $ 14,975 |
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | |||
Depreciation and amortization | 22,862 | 28,516 | 28,217 |
Amortization of film and television costs | 11,006 | 8,603 | 9,587 |
Distributed (undistributed) earnings from investments in equity affiliates | 184 | 38 | 295 |
Provision for uncollectible accounts | 1,240 | 1,972 | 2,575 |
Deferred income tax expense | 5,246 | 1,675 | 1,806 |
Net (gain) loss on investments, net of impairments | (927) | (742) | (1,218) |
Pension and postretirement benefit expense (credit) | (3,848) | (2,992) | (2,002) |
Actuarial (gain) loss on pension and postretirement benefits | (4,140) | 4,169 | 5,171 |
Asset impairments and abandonments | 4,904 | 18,880 | 1,458 |
Changes in operating assets and liabilities: | |||
Receivables | (634) | 2,216 | 2,812 |
Other current assets, inventories and theatrical film and television production costs | (16,472) | (13,070) | (12,852) |
Accounts payable and other accrued liabilities | 1,636 | (1,410) | (1,524) |
Equipment installment receivables and related sales | (265) | (1,429) | 548 |
Deferred customer contract acquisition and fulfillment costs | 52 | 376 | (910) |
Postretirement claims and contributions | (822) | (985) | (1,008) |
Other – net | 456 | 1,134 | 738 |
Total adjustments | 20,478 | 46,951 | 33,693 |
Net Cash Provided by Operating Activities | 41,957 | 43,130 | 48,668 |
Investing Activities | |||
Capital expenditures | (16,527) | (15,675) | (19,635) |
Acquisitions, net of cash acquired | (25,453) | (1,851) | (1,809) |
Dispositions | 8,740 | 3,641 | 4,684 |
Distributions from DIRECTV in excess of cumulative equity in earnings | 1,323 | 0 | 0 |
Other – net | (172) | 337 | 70 |
Net Cash Used in Investing Activities | (32,089) | (13,548) | (16,690) |
Financing Activities | |||
Net change in short-term borrowings with original maturities of three months or less | 1,316 | (17) | (276) |
Issuance of other short-term borrowings | 21,856 | 9,440 | 4,012 |
Repayment of other short-term borrowings | (7,510) | (9,467) | (6,904) |
Issuance of long-term debt | 9,931 | 31,988 | 17,039 |
Repayment of long-term debt | (3,142) | (39,964) | (27,592) |
Note payable to DIRECTV, net of payments of $459 | 1,341 | 0 | 0 |
Payment of vendor financing | (4,596) | (2,966) | (3,050) |
Issuance of preferred stock | 0 | 3,869 | 1,164 |
Purchase of treasury stock | (202) | (5,498) | (2,417) |
Issuance of treasury stock | 96 | 105 | 631 |
Issuance of preferred interests in subsidiaries | 0 | 1,979 | 7,876 |
Redemption of preferred interest in subsidiary | 0 | (1,950) | 0 |
Dividends paid | (15,068) | (14,956) | (14,888) |
Other – net | (2,444) | (4,570) | (678) |
Net Cash Provided by (Used in) Financing Activities | 1,578 | (32,007) | (25,083) |
Net increase (decrease) in cash and cash equivalents and restricted cash | 11,446 | (2,425) | 6,895 |
Cash and cash equivalents and restricted cash beginning of year | 9,870 | 12,295 | 5,400 |
Cash and Cash Equivalents and Restricted Cash End of Year | $ 21,316 | $ 9,870 | $ 12,295 |
Consolidated Statements Of Ca_2
Consolidated Statements Of Cash Flows (Parenthetical) $ in Millions | 12 Months Ended |
Dec. 31, 2021USD ($) | |
Statement of Cash Flows [Abstract] | |
Repayments of Related Party Debt | $ 459 |
Consolidated Statements Of Chan
Consolidated Statements 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 changes 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 changes and other adjustments | Noncontrolling InterestAdjusted beginning balance |
Balance at beginning of year at Dec. 31, 2018 | $ 193,884 | $ 0 | $ 0 | $ 0 | $ 7,621 | $ 125,525 | $ 58,753 | $ 316 | $ 59,069 | $ (12,059) | $ 4,249 | $ 9,795 | $ 29 | $ 9,824 | ||
Balance at beginning of year (in shares) at Dec. 31, 2018 | 0 | 0 | 0 | 7,621 | (339) | |||||||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||||||||||
Repurchase and acquisition of common stock | $ 0 | |||||||||||||||
Issuance of stock | $ 0 | $ 0 | $ 0 | $ 0 | $ 1,164 | |||||||||||
Issuance of stock (in shares) | 0 | 0 | 0 | 0 | ||||||||||||
Repurchase and acquisition of common stock | $ (2,492) | |||||||||||||||
Repurchase and acquisition common stock (in shares) | (67) | |||||||||||||||
Issuance of treasury stock | (125) | $ (1,466) | ||||||||||||||
Issuance of treasury stock (in shares) | 40 | |||||||||||||||
Share-based payments | (271) | |||||||||||||||
Changes related to acquisition of interests held by noncontrolling owners | (14) | |||||||||||||||
Net income (loss) attributable to AT&T | 13,903 | 13,903 | ||||||||||||||
Preferred stock dividends | (8) | |||||||||||||||
Common stock dividends ($2.08, $2.08, and $2.05 per share) | (15,028) | |||||||||||||||
Other comprehensive income (loss) attributable to AT&T | 1,221 | 1,221 | ||||||||||||||
Net income attributable to noncontrolling interest | 1,072 | 1,072 | ||||||||||||||
Issuance and acquisition of noncontrolling owners | 7,881 | |||||||||||||||
Redemption of noncontrolling interest | 0 | |||||||||||||||
Distributions | (1,055) | |||||||||||||||
Translation adjustments attributable to noncontrolling interest, net of taxes | 9 | (9) | ||||||||||||||
Balance at end of year 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 end of year (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 | $ (5,278) | $ (5,631) | ||||||||||||||
Repurchase and acquisition common stock (in shares) | (142) | (150) | ||||||||||||||
Issuance of treasury stock | (62) | $ (806) | ||||||||||||||
Issuance of treasury stock (in shares) | 21 | |||||||||||||||
Share-based payments | 18 | |||||||||||||||
Changes related to acquisition of interests held by noncontrolling owners | 4 | |||||||||||||||
Net income (loss) attributable to AT&T | $ (5,176) | (5,176) | ||||||||||||||
Preferred stock dividends | (139) | |||||||||||||||
Common stock dividends ($2.08, $2.08, and $2.05 per share) | (14,871) | |||||||||||||||
Other comprehensive income (loss) attributable to AT&T | (1,140) | (1,140) | ||||||||||||||
Net income attributable to noncontrolling interest | 1,355 | 1,355 | ||||||||||||||
Issuance and acquisition of noncontrolling owners | 1,979 | |||||||||||||||
Redemption of noncontrolling interest | (1,950) | |||||||||||||||
Distributions | (1,464) | |||||||||||||||
Translation adjustments attributable to noncontrolling interest, net of taxes | 59 | (59) | ||||||||||||||
Balance at end of year 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 end of year (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 | $ (237) | |||||||||||||||
Repurchase and acquisition common stock (in shares) | 0 | (8) | ||||||||||||||
Issuance of treasury stock | (76) | $ (867) | ||||||||||||||
Issuance of treasury stock (in shares) | 23 | |||||||||||||||
Share-based payments | 13 | |||||||||||||||
Changes related to acquisition of interests held by noncontrolling owners | 0 | |||||||||||||||
Net income (loss) attributable to AT&T | $ 20,081 | 20,081 | ||||||||||||||
Preferred stock dividends | (224) | |||||||||||||||
Common stock dividends ($2.08, $2.08, and $2.05 per share) | (14,964) | |||||||||||||||
Other comprehensive income (loss) attributable to AT&T | (801) | (801) | ||||||||||||||
Net income attributable to noncontrolling interest | 1,398 | 1,398 | ||||||||||||||
Issuance and acquisition of noncontrolling owners | 7 | |||||||||||||||
Redemption of noncontrolling interest | 0 | |||||||||||||||
Distributions | (1,447) | |||||||||||||||
Translation adjustments attributable to noncontrolling interest, net of taxes | 2 | (2) | ||||||||||||||
Balance at end of year at Dec. 31, 2021 | $ 183,855 | $ 0 | $ 0 | $ 0 | $ 7,621 | $ 130,112 | $ 42,350 | $ (17,280) | $ 3,529 | $ 17,523 | ||||||
Balance at end of year (in shares) at Dec. 31, 2021 | 0 | 0 | 0 | 7,621 | (480) |
Consolidated Statements Of Ch_2
Consolidated Statements Of Changes In Stockholders' Equity (Parenthetical) - $ / shares | 1 Months Ended | 12 Months Ended | |||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Statement of Stockholders' Equity [Abstract] | |||||
Dividends to stockholders (in dollars per share) | $ 0.52 | $ 0.52 | $ 2.08 | $ 2.08 | $ 2.05 |
Summary Of Significant Accounti
Summary Of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2021 | |
Accounting Policies [Abstract] | |
Summary Of Significant Accounting Policies | NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation Throughout this document, AT&T Inc. is referred to as “AT&T,” “we” or the “Company.” The consolidated financial statements include the accounts of the Company and 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. On July 31, 2021, we closed our transaction with TPG Capital (TPG) to form a new company named DIRECTV Entertainment Holdings, LLC (DIRECTV). With the close of the transaction, we separated and deconsolidated our Video business, comprised of our U.S. video operations, and began accounting for our investment in DIRECTV under the equity method (see Notes 6 and 10). On November 15, 2021, we sold our Latin America video operations, Vrio, to Grupo Werthein (see Note 6). 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 in our results on a one quarter lag. We also record our proportionate share of our equity method investees’ other comprehensive income (OCI) items, including translation adjustments. We treat distributions received from equity method investees as returns on investment and classify them as cash flows from operating activities until those distributions exceed our cumulative equity in the earnings of that investment. We treat the excess amount as a return of investment and classify it as cash flows from investing activities. The preparation of financial statements in conformity with U.S. generally accepted accounting principles (GAAP) requires management to make estimates and assumptions, including other estimates of probable losses and expenses, 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. Accounting Policies and Adopted Accounting Standards Credit Losses As of January 1, 2020, we adopted, through modified retrospective application, the Financial Accounting Standards Board’s (FASB) Accounting Standards Update (ASU) No. 2016-13, “Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments,” or Accounting Standards Codification (ASC) 326 (ASC 326), which replaces the incurred loss impairment methodology under prior GAAP with an expected credit loss model. ASC 326 affects trade receivables, loans, contract assets, certain beneficial interests, off-balance-sheet credit exposures not accounted for as insurance and other financial assets that are not subject to fair value through net income, as defined by the standard. Under the expected credit loss model, we are required to consider future economic trends to estimate expected credit losses over the lifetime of the asset. Upon adoption on January 1, 2020, we recorded a $293 reduction to “Retained earnings,” $395 increase to “Allowances for credit losses” applicable to our trade and loan receivables, $10 reduction of contract assets, $105 reduction of net deferred income tax liability and $7 reduction of “Noncontrolling interest.” Our adoption of ASC 326 did not have a material impact on our financial statements. Leases As of January 1, 2019, we adopted, with modified retrospective application, the FASB's ASU No. 2016-02, “Leases (Topic 842)” (ASC 842), which replaces existing leasing rules with a comprehensive lease measurement and recognition standard and expanded disclosure requirements (see Note 8). ASC 842 requires lessees to recognize most leases on their balance sheets as liabilities, with corresponding “right-of-use” assets. For income statement recognition purposes, leases are classified as either a finance or an operating lease without relying upon bright-line tests. The key change upon adoption of the standard was balance sheet recognition of operating leases, given that the recognition of lease expense on our income statement is similar to our historical accounting. Using the modified retrospective transition method of adoption, we did not adjust the balance sheet for comparative periods but recorded a cumulative effect adjustment to retained earnings on January 1, 2019. We elected the package of practical expedients permitted under the transition guidance within the new standard, which, among other things, allowed us to carry forward our historical lease classification. We also elected the practical expedient related to land easements, allowing us to carry forward our accounting treatment for land easements on existing agreements that were not accounted for as leases. We excluded leases with original terms of one year or less. Additionally, we elected to not separate lease and non-lease components for certain classes of assets. Our accounting for finance leases did not change from our prior accounting for capital leases. The adoption of ASC 842 resulted in the recognition of an operating lease liability of $22,121 and an operating right-of-use asset of the same amount. Existing prepaid and deferred rent accruals were recorded as an offset to the right-of-use asset, resulting in a net asset of $20,960. The cumulative effect of the adoption to retained earnings was an increase of $316 reflecting the reclassification of deferred gains related to sale/leaseback transactions. The standard did not materially impact our income statements or statements of cash flows, and had no impact on our covenant compliance under our current debt agreements. Income Taxes We record deferred income taxes for temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the computed tax basis of those assets and liabilities. We record valuation allowances against the deferred tax assets (included, together with our deferred income tax assets, as part of our reportable net deferred income tax liabilities on our consolidated balance sheets), for which the realization is uncertain. We review these items regularly in light of changes in federal and state tax laws and changes in our business. As of January 1, 2021, we adopted, with modified retrospective application, the FASB’s ASU No. 2019-12, “Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes” (ASU 2019-12), which is expected to simplify income tax accounting requirements in areas deemed costly and complex. ASU 2019-12 did not have a material impact on our financial statements. Cash and Cash Equivalents Cash and cash equivalents include all highly liquid investments with original maturities of three months or less. The carrying amounts approximate fair value. At December 31, 2021, we held $5,204 in cash and $15,965 in money market funds and other cash equivalents. Of our total cash and cash equivalents, $2,706 resided in foreign jurisdictions, some of which is subject to restrictions on repatriation. Allowance for Credit Losses We record expense to maintain an allowance for credit losses for estimated losses that result from the failure or inability of our customers to make required payments deemed collectible from the customer when the service was provided or product was delivered. When determining the allowances for trade receivables and loans, we consider the probability of recoverability of accounts receivable based on past experience, taking into account current collection trends and general economic factors, including bankruptcy rates. We also consider future economic trends to estimate expected credit losses over the lifetime of the asset. Credit risks are assessed based on historical write-offs, net of recoveries, as well as an analysis of the aged accounts receivable balances with allowances generally increasing as the receivable ages. Accounts receivable may be fully reserved for when specific collection issues are known to exist, such as catastrophes or pending bankruptcies. Inventories Inventories primarily consist of wireless devices and accessories and are valued at the lower of cost or net realizable value. Licensed Programming Inventory Cost Recognition and Impairment We enter into agreements to license programming exhibition rights from licensors. A programming inventory asset related to these rights and a corresponding liability payable to the licensor are recorded (on a discounted basis if the license agreements are long-term) when (i) the cost of the programming is reasonably determined, (ii) the programming material has been accepted in accordance with the terms of the agreement, (iii) the programming is available for its first showing or telecast, and (iv) the license period has commenced. There are variations in the amortization methods of these rights, depending on whether the network is advertising-supported (e.g., TNT and TBS) or not advertising-supported (e.g., HBO and Turner Classic Movies). For the advertising-supported networks, our general policy is to amortize each program’s costs on a straight-line basis (or per-play basis, if greater) over its license period. In circumstances where the initial airing of the program has more value than subsequent airings, an accelerated method of amortization is used. The accelerated amortization upon the first airing versus subsequent airings is determined based on a study of historical and estimated future advertising sales for similar programming. For rights fees paid for sports programming arrangements, such rights fees are amortized using a revenue-forecast model, in which the rights fees are amortized using the ratio of current period advertising revenue to total estimated remaining advertising revenue over the term of the arrangement. For premium pay television, streaming and over-the-top (OTT) services that are not advertising-supported, each licensed program’s costs are amortized on a straight-line basis over its license period or estimated period of use, beginning with the month of initial exhibition. When we have the right to exhibit feature theatrical programming in multiple windows over a number of years, historical audience viewership is used as the basis for determining the amount of programming amortization attributable to each window. Licensed programming inventory is carried at the lower of unamortized cost or fair value. For networks that generate both advertising and subscription revenues, the net realizable value of unamortized programming costs is generally evaluated based on the network’s programming taken as a whole. In assessing whether the programming inventory for a particular advertising-supported network is impaired, the net realizable value for all of the network’s programming inventory is determined based on a projection of the network’s profitability. This assessment would occur upon the occurrence of certain triggering events. Similarly, for premium pay television, streaming and OTT services that are not advertising-supported, an evaluation of the fair value of unamortized programming costs is performed based on services’ licensed programming taken as a whole. Specifically, the fair value for all premium pay television, streaming and OTT service licensed programming is determined based on projections of estimated subscription revenues less certain costs of delivering and distributing the licensed programming. Changes in management’s intended usage of a specific program, such as a decision to no longer exhibit that program and forgo the use of the rights associated with the program license, results in a reassessment of that program’s fair value, which could result in an impairment (see Note 11). Film and Television Production Cost Recognition, Participations and Residuals and Impairments Film and television production costs on our consolidated balance sheets include the unamortized cost of completed theatrical films and television episodes, theatrical films and television series in production and undeveloped film and television rights. Film and television production costs are stated at the lower of cost, less accumulated amortization, or fair value. For films and television programs predominantly monetized individually, the amount of capitalized film and television production costs and the amount of participations and residuals to be recognized as broadcast, programming and operations expenses for a given film or television series in a particular period are determined using the film forecast computation method. Under this method, the amortization of capitalized costs and the accrual of participations and residuals are based on the proportion of the film’s (or television program’s) revenues recognized for such period to the film’s (or television program’s) estimated remaining ultimate revenues (i.e., the total revenue to be received throughout a film’s (or television program’s) life cycle). The process of estimating a film’s ultimate revenues requires us to make a series of judgments related to future revenue-generating activities associated with a particular film. We estimate the ultimate revenues, less additional costs to be incurred (including exploitation and participation costs), in order to determine whether the value of a film or television series is impaired and requires an immediate write-off of unrecoverable film and television production costs. To the extent that the ultimate revenues are adjusted, the resulting gross margin reported on the exploitation of that film or television series in a period is also adjusted. (See Note 11) Prior to the theatrical release of a film, our estimates are based on factors such as the historical performance of similar films, the star power of the lead actors, the rating and genre of the film, pre-release market research (including test market screenings), international distribution plans and the expected number of theaters in which the film will be released. In the absence of revenues directly related to the exhibition of owned film or television programs on our television networks, premium pay television, streaming or OTT services, we estimate a portion of the unamortized costs that are representative of the utilization of that film or television program in that exhibition and expense such costs as the film or television program is exhibited. The period over which ultimate revenues are estimated generally does not exceed ten years from the initial release of a motion picture or from the date of delivery of the first episode of an episodic television series. Estimates were updated based on information available during the film’s production and, upon release, the actual results of each film. For a film (or television program) predominantly monetized as part of a film (or television program) group, the amount of capitalized film and television production costs is amortized using a reasonably reliable estimate of the portion of unamortized film costs that is representative of the use of the film. Production costs are expensed as the film (or television program) is exhibited or exploited. Property, Plant and Equipment Property, plant and equipment is stated at cost, except for assets acquired using acquisition accounting, which are initially recorded at fair value (see Note 7). The cost of additions and substantial improvements to property, plant and equipment is capitalized, and includes internal compensation costs for these projects. The cost of maintenance and repairs of property, plant and equipment is charged to operating expenses. Property, plant and equipment costs are depreciated using straight-line methods over their estimated economic lives. Certain subsidiaries follow composite group depreciation methodology. Accordingly, when a portion of their depreciable property, plant and equipment is retired in the ordinary course of business, the gross book value is reclassified to accumulated depreciation, and no gain or loss is recognized on the disposition of these assets. Property, plant and equipment is reviewed for recoverability whenever events or changes in circumstances indicate that the carrying amount of an asset group may not be recoverable. We recognize an impairment loss when the carrying amount of a long-lived asset is not recoverable. The carrying amount of a long-lived asset is not recoverable if it exceeds the sum of the undiscounted cash flows expected to result from the use and eventual disposition of the asset. (See Note 7) The liability for the fair value of an asset retirement obligation is recorded in the period in which it is incurred if a reasonable estimate of fair value can be made. In periods subsequent to initial measurement, we recognize period-to-period changes in the liability resulting from the passage of time and revisions to either the timing or the amount of the original estimate. The increase in the carrying value of the associated long-lived asset is depreciated over the corresponding estimated economic life. Software Costs We capitalize certain costs incurred in connection with developing or obtaining internal-use software. Capitalized software costs are included in “Property, Plant and Equipment – Net” on our consolidated balance sheets. In addition, there is certain network software that allows the equipment to provide the features and functions unique to the AT&T network, which we include in the cost of the equipment categories for financial reporting purposes. We amortize our capitalized software costs over a three-year to seven-year period, reflecting the estimated period during which these assets will remain in service. Goodwill and Other Intangible Assets We have the following major classes of intangible assets: goodwill; licenses, which include Federal Communications Commission (FCC) and other wireless licenses; distribution networks; film and television libraries; intellectual properties and franchises; trademarks and trade names; customer lists; and various other finite-lived intangible assets (see Note 9). Goodwill represents the excess of consideration paid over the fair value of identifiable net assets acquired in business combinations. Wireless licenses provide us with the exclusive right to utilize certain radio frequency spectrum to provide wireless communications services. While wireless licenses are issued for a fixed period of time (generally ten years), renewals of domestic wireless licenses have occurred routinely and at nominal cost. We have determined that there are currently no legal, regulatory, contractual, competitive, economic or other factors that limit the useful lives of our FCC wireless licenses. We amortize our wireless licenses in Mexico over their average remaining economic life of 25 years. We acquired the rights to the AT&T and other trade names in previous acquisitions, classifying certain of those trade names as indefinite-lived. We have the effective ability to retain these exclusive rights permanently at a nominal cost. Goodwill, FCC wireless licenses and other indefinite-lived intangible assets are not amortized but are tested at least annually for impairment. The testing is performed on the value as of October 1 each year, and compares the book values of the assets to their fair values. Goodwill is tested by comparing the carrying amount of each reporting unit, deemed to be our principal operating segments or one level below them, to the fair value using both discounted cash flow as well as market multiple approaches. FCC wireless licenses are tested on an aggregate basis, consistent with our use of the licenses on a national scope, using a discounted cash flow approach. Prior to 2020, orbital slots were similarly aggregated for purposes of impairment testing and valued using a discounted cash flow approach. Trade names are tested by comparing their book values to their fair values calculated using a discounted cash flow approach on a presumed royalty rate derived from the revenues related to each brand name. Intangible assets that have finite useful lives are amortized over their estimated useful lives (see Note 9). As of January 1, 2020, on a prospective basis, orbital slots were amortized using the sum-of-the-months-digits method of amortization over their average remaining economic life (ceased in 2021 in conjunction with the transfer of the orbital slots as part of the DIRECTV transaction). Customer lists and relationships are amortized using primarily the sum-of-the-months-digits method of amortization over the period in which those relationships are expected to contribute to our future cash flows. Finite-lived trademarks and trade names and distribution networks are amortized using the straight-line method over the estimated useful life of the assets. Film library is amortized using the film forecast computation method, as previously disclosed. The remaining finite-lived intangible assets are generally amortized using the straight-line method. These assets, along with other long-lived assets, are reviewed for recoverability whenever events or changes in circumstances indicate that the carrying amount of an asset group may not be recoverable (see Note 6). Advertising Costs We expense advertising costs for products and services or for promoting our corporate image as incurred (see Note 23). Foreign Currency Translation Our foreign subsidiaries and foreign investments generally report their earnings in their local currencies. We translate their foreign assets and liabilities at exchange rates in effect at the balance sheet dates. We translate their revenues and expenses using average rates during the year. The resulting foreign currency translation adjustments are recorded as a separate component of accumulated OCI in our consolidated balance sheets (see Note 3). Operations in countries with highly inflationary economies use the U.S. dollar as the functional currency. We hedge a portion of the foreign currency exchange risk involved in certain foreign currency-denominated transactions, which we explain further in our discussion of our methods of managing our foreign currency risk (see Note 13). Pension and Other Postretirement Benefits See Note 15 for a comprehensive discussion of our pension and postretirement benefits, including a discussion of the actuarial assumptions, our policy for recognizing the associated gains and losses and our method used to estimate service and interest cost components. New Accounting Standards Reference Rate Reform In March 2020, the FASB issued ASU No. 2020-04, “Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting” (ASU 2020-04, as amended), which provides optional expedients, and allows for certain exceptions to existing GAAP, for contract modifications triggered by the expected market transition of certain benchmark interest rates to alternative reference rates. ASU 2020-04 applies to contracts, hedging relationships, certain derivatives and other arrangements that reference the London Interbank Offering Rate (LIBOR) or any other rates ending after December 31, 2022. ASU 2020-04, as amended, became effective immediately. We do not believe our adoption of ASU 2020-04, including optional expedients, will materially impact our financial statements. Convertible Instruments Beginning with 2022 interim reporting, we will adopt ASU No. 2020-06, “Debt—Debt With Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity” (ASU 2020-06). ASU 2020-06 eliminated certain separation models regarding cash conversion and beneficial conversion features to simplify reporting for convertible instruments as a single liability or equity, with no separate accounting for embedded conversion features. Additionally, ASU 2020-06 requires that instruments which may be settled in cash or stock are presumed settled in stock in calculating diluted earnings per share. While our intent is to settle the Mobility II preferred interests in cash (see Note 17), settlement of this instrument in AT&T shares will result in additional dilutive impact, the magnitude of which is influenced by the fair value of the Mobility II preferred interests and the average AT&T common stock price during the reporting period, which could vary from period-to-period. We are currently evaluating our adoption method and the impact on our financial statements, as our recent decision (February 2022) on methodology of distribution to AT&T’s shareholders (i.e., pro rata dividend) for the pending WarnerMedia transaction could affect the impact of ASU 2020-06 on our financial statements (see Note 6). Government Assistance In November 2021, the FASB issued ASU No. 2021-10, “Government Assistance (Topic 832): Disclosures by Business Entities about Government Assistance” (ASU 2021-10), which requires annual disclosures, in the notes to the financial statements, about transactions with a government that are accounted for by applying a grant or contribution accounting model by analogy to other guidance. The annual disclosures include terms and conditions, accounting treatment and impacted financial statement lines reflecting the impact of the transactions. ASU 2021-10 will be effective for annual reporting periods beginning after December 15, 2021, under prospective or retrospective application for all in scope government transactions in the financial statements as of our adoption date or thereafter. We are evaluating the disclosure impacts of our adoption of ASU 2021-10. |
Earnings Per Share
Earnings Per Share | 12 Months Ended |
Dec. 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 is shown in the table below: Year Ended December 31, 2021 2020 2019 Numerators Numerator for basic earnings per share: Net Income (Loss) Attributable to Common Stock $ 19,874 $ (5,369) $ 13,900 Dilutive potential common shares: Share-based payment 1 22 23 21 Numerator for diluted earnings per share $ 19,896 $ (5,346) $ 13,921 Denominators (000,000) Denominator for basic earnings per share: Weighted average number of common shares outstanding 7,168 7,157 7,319 Dilutive potential common shares: Share-based payment (in shares) 1 31 26 29 Denominator for diluted earnings per share 7,199 7,183 7,348 1 For 2020, dilutive potential common shares are not included in the computation of diluted earnings per share because their effect is antidilutive as a result of the net loss. In the first quarter of 2020, we completed an accelerated share repurchase agreement with a third-party financial institution to repurchase AT&T common stock (see Note 17). Under the terms of the agreement, we paid the financial institution $4,000 and received 104.8 million shares. |
Other Comprehensive Income
Other Comprehensive Income | 12 Months Ended |
Dec. 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 Net Unrealized Net Unrealized Defined Benefit Accumulated Other Balance as of December 31, 2018 $ (3,084) $ (2) $ 818 $ 6,517 $ 4,249 Other comprehensive income (loss) before reclassifications 28 50 (900) 3,457 2,635 Amounts reclassified from accumulated OCI — 1 — 1 45 2 (1,459) 3 (1,414) Net other comprehensive income (loss) 28 50 (855) 1,998 1,221 Balance as of December 31, 2019 (3,056) 48 (37) 8,515 5,470 Other comprehensive income (loss) before reclassifications (870) 78 (811) 2,250 647 Amounts reclassified from accumulated OCI — 1 (15) 1 69 2 (1,841) 3 (1,787) Net other comprehensive income (loss) (870) 63 (742) 409 (1,140) Balance as of December 31, 2020 (3,926) 111 (779) 8,924 4,330 Other comprehensive income (loss) before reclassifications (125) (63) (715) (34) (937) Amounts reclassified from accumulated OCI 2,087 1,4 (3) 1 72 2 (2,020) 3 136 Net other comprehensive income (loss) 1,962 (66) (643) (2,054) (801) Balance as of December 31, 2021 $ (1,964) $ 45 $ (1,422) $ 6,870 $ 3,529 1 (Gains) losses are included in “Other income (expense) – net” in the consolidated statements of income. 2 (Gains) losses are included in “Interest expense” in the consolidated statements of income (see Note 13). 3 The amortization of prior service credits associated with postretirement benefits is included in “Other income (expense) – net” in the consolidated statements of income (see Note 15). 4 Represents unrealized foreign currency translation adjustments at Vrio that were released upon sale. (See Note 6) |
Segment Information
Segment Information | 12 Months Ended |
Dec. 31, 2021 | |
Segment Reporting [Abstract] | |
Segment Information | NOTE 4. SEGMENT INFORMATION Our segments are comprised of strategic business units that offer products and services to different customer segments over various technology platforms and/or in different geographies that are managed accordingly. 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. EBITDA 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. 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 and Otter Media Holdings (Otter Media). We disposed of substantially all Otter Media assets in the third quarter of 2021 (see Note 6). On May 17, 2021, we entered into an agreement to combine our WarnerMedia segment, subject to certain exceptions, with a subsidiary of Discovery Inc. (See Note 6) On December 21, 2021, we entered into an agreement to sell the marketplace component of Xandr to Microsoft Corporation (Microsoft) (see Note 6). We applied held-for-sale accounting for Xandr as of December 31, 2021, and continue to present the Xandr results within the WarnerMedia segment consistent with how performance was assessed and resource allocation decision were made through December 31, 2021. The Latin America segment provides wireless services and equipment in Mexico, and prior to the November 2021 disposition of Vrio, video services in Latin America and the Caribbean. We applied held-for-sale accounting to Vrio as of June 30, 2021 and continued to present the Vrio results within the Latin America segment consistent with how performance was assessed and resource allocation decisions were made until the transaction closed. 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.” Costs previously allocated to the Video business that were retained after the transaction, net of reimbursements from DIRECTV under transition service agreements, are reported in Corporate following the transaction through 2022, to maintain comparability of our operating segment results, and while operational plans and continued cost reduction initiatives are implemented. • Video, which consists of our former U.S. video operations that were contributed to DIRECTV on July 31, 2021 and also includes our share of DIRECTV’s earnings as equity in net income of affiliates (see Note 10). • 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 Vrio prior to separation, 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 year ended December 31, 2021 Revenues Operations EBITDA Depreciation and Amortization Operating Equity in Net Operating Communications Mobility $ 78,254 $ 46,820 $ 31,434 $ 8,122 $ 23,312 $ — $ 23,312 Business Wireline 23,937 14,755 9,182 5,192 3,990 — 3,990 Consumer Wireline 12,539 8,467 4,072 3,095 977 — 977 Total Communications 114,730 70,042 44,688 16,409 28,279 — 28,279 WarnerMedia 35,632 27,737 7,895 656 7,239 38 7,277 Latin America Mexico 2,747 2,652 95 605 (510) — (510) Vrio 2,607 2,302 305 231 74 6 80 Total Latin America 5,354 4,954 400 836 (436) 6 (430) Segment Total 155,716 102,733 52,983 17,901 35,082 $ 44 $ 35,126 Corporate and Other Corporate 1 1,264 4,805 (3,541) 372 (3,913) (32) (3,945) Video 15,513 12,666 2,847 356 2,491 619 3,110 Acquisition-related items — 299 (299) 4,233 (4,532) — (4,532) Certain significant items — 4,961 (4,961) — (4,961) — (4,961) Eliminations and consolidations (3,629) (2,809) (820) — (820) — (820) AT&T Inc. $ 168,864 $ 122,655 $ 46,209 $ 22,862 $ 23,347 $ 631 $ 23,978 1 Includes $2,680 for the reclassification of prior service credit amortization and approximately $200 of retained operation and support costs and $240 of depreciation expense previously allocated to Video, net of reimbursements. For the year ended December 31, 2020 Revenues Operations EBITDA Depreciation Operating Equity in Net Operating Communications Mobility $ 72,564 $ 42,106 $ 30,458 $ 8,086 $ 22,372 $ — $ 22,372 Business Wireline 25,083 15,303 9,780 5,216 4,564 — 4,564 Consumer Wireline 12,318 8,027 4,291 2,914 1,377 — 1,377 Total Communications 109,965 65,436 44,529 16,216 28,313 — 28,313 WarnerMedia 30,442 21,579 8,863 671 8,192 18 8,210 Latin America Mexico 2,562 2,636 (74) 513 (587) — (587) Vrio 3,154 2,800 354 520 (166) 24 (142) Total Latin America 5,716 5,436 280 1,033 (753) 24 (729) Segment Total 146,123 92,451 53,672 17,920 35,752 $ 42 $ 35,794 Corporate and Other Corporate 1 2,207 4,205 (1,998) 310 (2,308) 53 (2,255) Video 28,610 24,174 4,436 2,262 2,174 — 2,174 Acquisition-related items — 468 (468) 8,012 (8,480) — (8,480) Certain significant items — 19,156 (19,156) 14 (19,170) — (19,170) Eliminations and consolidations (5,180) (3,615) (1,565) (2) (1,563) — (1,563) AT&T Inc. $ 171,760 $ 136,839 $ 34,921 $ 28,516 $ 6,405 $ 95 $ 6,500 1 Includes $2,442 for the reclassification of prior service credit amortization. For the year ended December 31, 2019 Revenues Operations EBITDA Depreciation Operating Equity in Net Operating Communications Mobility $ 71,056 $ 40,681 $ 30,375 $ 8,054 $ 22,321 $ — $ 22,321 Business Wireline 25,901 15,839 10,062 4,925 5,137 — 5,137 Consumer Wireline 13,012 7,775 5,237 2,880 2,357 — 2,357 Total Communications 109,969 64,295 45,674 15,859 29,815 — 29,815 WarnerMedia 35,259 24,172 11,087 589 10,498 161 10,659 Latin America Mexico 2,869 3,085 (216) 502 (718) — (718) Vrio 4,094 3,378 716 660 56 27 83 Total Latin America 6,963 6,463 500 1,162 (662) 27 (635) Segment Total 152,191 94,930 57,261 17,610 39,651 $ 188 $ 39,839 Corporate and Other Corporate 1 2,203 3,509 (1,306) 645 (1,951) (182) (2,133) Video 32,124 27,275 4,849 2,461 2,388 — 2,388 Acquisition-related items (72) 960 (1,032) 7,460 (8,492) — (8,492) Certain significant items — 2,082 (2,082) 43 (2,125) — (2,125) Eliminations and consolidations (5,253) (3,735) (1,518) (2) (1,516) — (1,516) AT&T Inc. $ 181,193 $ 125,021 $ 56,172 $ 28,217 $ 27,955 $ 6 $ 27,961 1 Includes $1,934 for the reclassification of prior service credit amortization. The following table is a reconciliation of operating income (loss) to “Income (Loss) Before Income Taxes” reported in our consolidated statements of income: 2021 2020 2019 Communications $ 28,279 $ 28,313 $ 29,815 WarnerMedia 7,277 8,210 10,659 Latin America (430) (729) (635) Segment Contribution 35,126 35,794 39,839 Reconciling Items: Corporate and Other (3,913) (2,308) (1,951) Video 2,491 2,174 2,388 Merger costs (299) (468) (1,032) Amortization of intangibles acquired (4,233) (8,012) (7,460) Asset impairments and abandonments (4,904) (18,880) (1,458) Gain on spectrum transaction 1 — 900 — Employee separation charges and benefit-related losses (57) (1,177) (624) Other noncash charges (credits), net — (13) (43) Segment equity in net income of affiliates (44) (42) (188) Eliminations and consolidations (820) (1,563) (1,516) AT&T Operating Income 23,347 6,405 27,955 Interest Expense 6,884 7,925 8,422 Equity in net income of affiliates 631 95 6 Other income (expense) – net 9,853 (1,431) (1,071) Income (Loss) Before Income Taxes $ 26,947 $ (2,856) $ 18,468 1 Included as a reduction of “Selling, general and administrative expenses” in the consolidated statements of income. The following table sets forth revenues earned from customers, and property, plant and equipment located in different geographic areas: 2021 2020 2019 Revenues Net Property, Plant & Equipment Revenues Net Property, Plant & Equipment Revenues Net Property, United States $ 151,631 $ 120,924 $ 155,899 $ 121,208 $ 161,689 $ 122,567 Europe 6,079 1,106 5,387 1,152 6,536 1,854 Mexico 3,043 3,462 2,862 3,530 3,198 3,648 Brazil 1,486 20 1,807 694 2,797 1,057 All other Latin America 3,118 115 2,679 485 3,219 544 Asia/Pacific Rim 2,637 240 2,322 203 2,793 390 Other 870 37 804 43 961 68 Total $ 168,864 $ 125,904 $ 171,760 $ 127,315 $ 181,193 $ 130,128 The following tables present intersegment revenues, assets, investments in equity affiliates and capital expenditures by segment: Intersegment Reconciliation 2021 2020 2019 Intersegment revenues Communications $ 11 $ 11 $ 26 WarnerMedia 2,573 3,183 3,318 Latin America — — — Total Intersegment Revenues 2,584 3,194 3,344 Consolidations 1,045 1,986 1,909 Eliminations and consolidations $ 3,629 $ 5,180 $ 5,253 At or for the years ended December 31, 2021 2020 Assets Investments in Capital Assets Investments in Capital Communications $ 494,063 $ — $ 14,860 $ 506,102 $ — $ 14,107 WarnerMedia 154,369 1,122 764 148,037 1,123 699 Latin America 8,874 — 580 15,811 590 708 Corporate and eliminations (105,684) 6,152 323 (144,189) 67 161 Total $ 551,622 $ 7,274 $ 16,527 $ 525,761 $ 1,780 $ 15,675 |
Revenue Recognition
Revenue Recognition | 12 Months Ended |
Dec. 31, 2021 | |
Revenue from Contract with Customer [Abstract] | |
Revenue Recognition | NOTE 5. REVENUE RECOGNITION We report our revenues net of sales taxes and record certain regulatory fees, primarily Universal Service Fund (USF) fees, on a net basis. No customer accounted for more than 10% of consolidated revenues in 2021, 2020 or 2019. Wireless, Advanced Data, Legacy Voice & Data Services and Equipment Revenue We offer service-only contracts and contracts that bundle equipment used to access the services and/or with other service offerings. Some contracts have fixed terms and others are cancellable on a short-term basis (i.e., month-to-month arrangements). Examples of service revenues include wireless, strategic services (e.g., virtual private network service), and legacy voice and data (e.g., traditional local and long-distance). These services represent a series of distinct services that is considered a separate performance obligation. Service revenue is recognized when services are provided, based upon either usage (e.g., minutes of traffic/bytes of data processed) or period of time (e.g., monthly service fees). Some of our services require customer premises equipment that, when combined and integrated with AT&T’s specific network infrastructure, facilitates the delivery of service to the customer. In evaluating whether the equipment is a separate performance obligation, we consider the customer’s ability to benefit from the equipment on its own or together with other readily available resources and if so, whether the service and equipment are separately identifiable (i.e., is the service highly dependent on, or highly interrelated with the equipment). When the equipment does not meet the criteria to be a separate performance obligation (e.g., equipment associated with certain video services), we allocate the total transaction price to the related service. When equipment is a separate performance obligation, we record the sale of equipment when title has passed and the products are accepted by the customer. For devices sold through indirect channels (e.g., national dealers), revenue is recognized when the dealer accepts the device, not upon activation. Our equipment and service revenues are predominantly recognized on a gross basis, as most of our services do not involve a third party and we typically control the equipment that is sold to our customers. Revenue recognized from fixed term contracts that bundle services and/or equipment is allocated based on the stand-alone selling price of all required performance obligations of the contract (i.e., each item included in the bundle). Promotional discounts are attributed to each required component of the arrangement, resulting in recognition over the contract term. Stand-alone selling prices are determined by assessing prices paid for service-only contracts (e.g., arrangements where customers bring their own devices) and stand-alone device pricing. We offer the majority of our customers the option to purchase certain wireless devices in installments over a specified period of time, and, in many cases, they may be eligible to trade in the original equipment for a new device and have the remaining unpaid balance paid or settled. For customers that elect these equipment installment payment programs, at the point of sale, we recognize revenue for the entire amount of revenue allocated to the customer receivable net of fair value of the trade-in right guarantee. The difference between the revenue recognized and the consideration received is recorded as a note receivable when the devices are not discounted and our right to consideration is unconditional. When installment sales include promotional discounts (e.g., “buy one get one free” or equipment discounts with trade-in of a device), the difference between revenue recognized and consideration received is recorded as a contract asset to be amortized over the contract term. Less commonly, we offer certain customers highly discounted devices when they enter into a minimum service agreement term. For these contracts, we recognize equipment revenue at the point of sale based on a stand-alone selling price allocation. The difference between the revenue recognized and the cash received is recorded as a contract asset that will amortize over the contract term. Our contracts allow for customers to frequently modify their arrangement, without incurring penalties in many cases. When a contract is modified, we evaluate the change in scope or price of the contract to determine if the modification should be treated as a new contract or if it should be considered a change of the existing contract. We generally do not have significant impacts from contract modifications. Revenues from transactions between us and our customers are recorded net of revenue-based regulatory fees and taxes. Cash incentives given to customers are recorded as a reduction of revenue. Nonrefundable, upfront service activation and setup fees associated with service arrangements are deferred and recognized over the associated service contract period or customer relationship life. Subscription Revenue Subscription revenues from cable networks and premium pay and basic-tier television services are recognized over the license period as programming is provided to affiliates or digital distributors based on negotiated contractual programming rates. When a distribution contract with an affiliate has expired and a new distribution contract has not been executed, revenues are based on estimated rates, giving consideration to factors including the previous contractual rates, inflation, current payments by the affiliate and the status of the negotiations on a new contract. When the new distribution contract terms are finalized, an adjustment to revenue is recorded, if necessary, to reflect the new terms. Subscription revenues from end-user subscribers are recognized when services are provided, based upon either usage or period of time. Subscription revenues from streaming services are recognized as programming services are provided to customers. Content Revenue Feature films typically are produced or acquired for initial exhibition in theaters, followed by distribution, generally commencing within three years of such initial exhibition. Revenues from film rentals by theaters are recognized as the films are exhibited. Television programs and series are initially produced for broadcast and may be subsequently licensed or sold in physical format and/or electronic delivery. Revenues from the distribution of television programming through broadcast networks, cable networks, first-run syndication and streaming services are recognized when the programs or series are available to the licensee. In certain circumstances, pursuant to the terms of the applicable contractual arrangements, the availability dates granted to customers may precede the date in which the customer can be billed for these sales. Revenues from sales of feature films and television programming in physical format are recognized at the later of the delivery date or the date when made widely available for sale or rental by retailers based on gross sales less a provision for estimated returns, rebates and pricing allowances. Revenues from the licensing of television programs and series for electronic sell-through or video-on-demand are recognized when the product has been purchased by and made available to the consumer to either download or stream. Upfront or guaranteed payments for the licensing of intellectual property are recognized as revenue at either the inception of the license term if the intellectual property has significant standalone functionality or over the corresponding license term if the licensee’s ability to derive utility is dependent on our continued support of the intellectual property throughout the license term. Revenues from the sales of console games are recognized at the later of the delivery date or the date that the product is made widely available for sale or rental by retailers based on gross sales less a provision for estimated returns, rebates and pricing allowances. Advertising Revenue Advertising revenues are recognized, net of agency commissions, in the period that the advertisements are aired. If there is a targeted audience guarantee, revenues are recognized for the actual audience delivery and revenues are deferred for any shortfall until the guaranteed audience delivery is met, typically by providing additional advertisements. Advertising revenues from digital properties are recognized as impressions are delivered or the services are performed. Revenue Categories The following tables set forth reported revenue by category and by business unit: For the year ended December 31, 2021 Communications Mobility Business Wireline Consumer Wireline WarnerMedia Latin America Corporate & Other Elim. Total Wireless service $ 57,260 $ — $ — $ — $ 1,834 $ 74 $ — $ 59,168 Video service — — — — 2,607 14,514 — 17,121 Business service — 23,224 — — — 70 — 23,294 Broadband — — 9,085 — — — — 9,085 Subscription — — — 15,596 — — — 13,133 DTC (HBO Max) 1 — — — — — — (1,051) Other 2 — — — — — — (1,412) Content — — — 15,621 — — — 12,622 DTC (HBO Max) 3 — — — (1,923) — — — Other 3 — — — (1,076) — — — Advertising 330 — — 6,522 — 909 (909) 6,852 Legacy voice and data — — 1,977 — — 429 — 2,406 Other — — 1,384 892 — 691 (257) 2,710 Total Service 57,590 23,224 12,446 35,632 4,441 16,687 (3,629) 146,391 Equipment 20,664 713 93 — 913 90 — 22,473 Total $ 78,254 $ 23,937 $ 12,539 $ 35,632 $ 5,354 $ 16,777 $ (3,629) $ 168,864 1 Represents DTC (HBO Max) intercompany sales to the Communications segment ($698 with Mobility and $353 with Consumer Wireline). 2 Represents intercompany video distribution arrangements primarily to DIRECTV/U-verse from WarnerMedia prior to August 1, 2021 (see Note 20). 3 Represents intercompany transactions in the WarnerMedia segment. For the year ended December 31, 2020 Communications Mobility Business Wireline Consumer Wireline WarnerMedia Latin America Corporate & Other Elim. Total Wireless service $ 55,251 $ — $ — $ — $ 1,656 $ 528 $ — $ 57,435 Video service — — — — 3,154 26,747 — 29,901 Business service — 24,313 — — — 321 — 24,634 Broadband — — 8,534 — — — — 8,534 Subscription — — — 13,765 — — — 10,655 DTC (HBO Max) 1 — — — — — — (468) Other 2 — — — — — — (2,642) Content — — — 13,083 — — — 9,819 DTC (HBO Max) 3 — — — (2,249) — — — Other 3 — — — (1,015) — — — Advertising 291 — — 6,125 — 1,718 (1,718) 6,416 Legacy voice and data — — 2,213 — — 554 — 2,767 Other — — 1,564 733 — 661 (352) 2,606 Total Service 55,542 24,313 12,311 30,442 4,810 30,529 (5,180) 152,767 Equipment 17,022 770 7 — 906 288 — 18,993 Total $ 72,564 $ 25,083 $ 12,318 $ 30,442 $ 5,716 $ 30,817 $ (5,180) $ 171,760 1 Represents DTC (HBO Max) intercompany sales to the Communications segment ($285 with Mobility and $183 with Consumer Wireline). 2 Represents intercompany video distribution arrangements primarily to DIRECTV/U-verse from WarnerMedia (see Note 20). 3 Represents intercompany transactions in the WarnerMedia segment. For the year ended December 31, 2019 Communications Mobility Business Wireline Consumer Wireline WarnerMedia Latin America Corporate & Other Elim. Total Wireless service $ 55,039 $ — $ — $ — $ 1,863 $ 628 $ — $ 57,530 Video service — — — — 4,094 30,451 — 34,545 Business service — 25,116 — — — 325 — 25,441 Broadband — — 8,403 — — — — 8,403 Subscription — — — 13,651 — — — 10,402 DTC (HBO Max) 1 — — — — — — — Other 2 — — — — — — (3,249) Content — — — 14,938 — — — 13,880 DTC (HBO Max) 1 — — — — — — — Other 3 — — — (1,058) — — — Advertising 292 — — 6,678 — 1,672 (1,672) 6,970 Legacy voice and data — — 2,573 — — 565 — 3,138 Other — — 2,029 1,050 — 443 (332) 3,190 Total Service 55,331 25,116 13,005 35,259 5,957 34,084 (5,253) 163,499 Equipment 15,725 785 7 — 1,006 171 — 17,694 Total $ 71,056 $ 25,901 $ 13,012 $ 35,259 $ 6,963 $ 34,255 $ (5,253) $ 181,193 1 HBO Max was launched in May 2020. 2 Represents intercompany video distribution arrangements primarily to DIRECTV/U-verse from WarnerMedia (see Note 20). 3 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 and consumer wireline services, are deferred and amortized over the contract period or expected customer relationship life, which typically ranges from three years to five years. The following table presents the deferred customer contract acquisition and fulfillment costs included on our consolidated balance sheets at December 31: Consolidated Balance Sheets 2021 2020 Deferred Acquisition Costs Prepaid and other current assets $ 2,550 $ 3,087 Other Assets 3,248 3,198 Total deferred customer contract acquisition costs $ 5,798 $ 6,285 Deferred Fulfillment Costs Prepaid and other current assets $ 2,601 $ 4,118 Other Assets 4,148 5,634 Total deferred customer contract fulfillment costs $ 6,749 $ 9,752 The decline in deferred acquisition and fulfillment costs from December 31, 2020 reflects the July 2021 separation of the U.S. Video business. At separation, we removed $1,218 of deferred acquisitions costs ($693 originally classified as “Prepaid and other current assets” and $525 originally classified as “Other assets”) and $2,025 of deferred fulfillment costs ($1,134 originally classified as “Prepaid and other current assets” and $891 originally classified as “Other assets”). (See Note 6) The following table presents deferred customer contract acquisition and fulfillment cost amortization included in “Other cost of revenue” for the year ended December 31: Consolidated Statements of Income 2021 2020 Deferred acquisition cost amortization $ 3,072 $ 2,755 Deferred fulfillment cost amortization 4,019 5,110 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. Our contract assets primarily relate to our wireless businesses. Promotional equipment sales where we offer handset credits, which are allocated between equipment and service in proportion to their standalone selling prices, when customers commit to a specified service period result in additional contract assets recognized. These contract assets will amortize over the service contract period, resulting in lower future service revenue. When consideration is received in advance of the delivery of goods or services, a contract liability is recorded. 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 at December 31: Consolidated Balance Sheets 2021 2020 Contract asset $ 4,517 $ 3,501 Current portion in “Prepaid and other current assets” 2,684 2,054 Contract liability 5,644 6,879 Current portion in “Advanced billings and customer deposits” 5,112 6,071 Our contract asset balance in 2021 reflects increased promotional equipment sales in our wireless business. We expect the amortization of these promotional costs to increase throughout 2022 and the contract asset to flatten in 2023. Changes in our contract asset and contract liability from December 31, 2020 include the impact of the July 2021 separation of the U.S. Video business. At separation, the contract asset was reduced $303 and the contract liability was reduced $1,098, both of which were predominantly the current portion. (See Note 6) Our beginning of period contract liabilities recorded as customer contract revenue during 2021 was $5,662. 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 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 December 31, 2021, the aggregate amount of the transaction price allocated to remaining performance obligations was $42,678, of which we |
Acquisitions, Dispositions And
Acquisitions, Dispositions And Other Adjustments | 12 Months Ended |
Dec. 31, 2021 | |
Business Combination and Asset Acquisition [Abstract] | |
Acquisitions, Dispositions And Other Adjustments | NOTE 6. ACQUISITIONS, DISPOSITIONS AND OTHER ADJUSTMENTS Acquisitions Spectrum Auctions 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. We received the licenses in July 2021 and classified the auction deposits, related capitalized interest and billed relocation costs as “Licenses – Net” on our December 31, 2021 consolidated balance sheet. In December 2021, we paid $955 of Incentive Payments upon clearing of Phase I spectrum and estimate that we will pay $2,112 upon clearing of Phase II spectrum, expected by the end of 2023. Additionally, we are responsible for approximately $1,000 of compensable relocation costs over the next several years as the spectrum is being cleared by satellite operators, of which $650 was paid in the fourth quarter of 2021. Cash paid, including spectrum deposits (net of refunds), capitalized interest, and any payments for incentive and relocation costs are included in “Acquisitions, net of cash acquired” on our consolidated statements of cash flows. Interest is capitalized until the spectrum is ready for its intended use. 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. On January 14, 2022, the FCC announced that we were the winning bidder for 1,624 3.45 GHz licenses in Auction 110. We provided the FCC an upfront deposit of $123 in the third quarter of 2021 and will pay the remaining $8,956 in the first quarter of 2022, for a total of $9,079. We intend to fund the purchase price using cash and short-term investments. In June 2020, we completed the acquisition of $2,379 of 37/39 GHz spectrum in an FCC auction. Prior to the auction, we exchanged the 39 GHz licenses with a book value of approximately $300 that were previously acquired through FiberTower Corporation for vouchers to be applied against the winning bids and recorded a $900 gain in the first quarter of 2020. These vouchers yielded a value of approximately $1,200, which was applied toward our gross bids. In the second quarter of 2020, we made the final cash payment of $949, bringing the total cash payment to $1,186. In December 2019, we acquired $982 of 24 GHz spectrum in an FCC auction. HBO Latin America Group (HBO LAG) In May 2020, we acquired the remaining interest in HBO LAG for $141, net of cash acquired. At acquisition, we remeasured the fair value of the total business, which exceeded the carrying amount of our equity method investment and resulted in a pre-tax gain of $68. We consolidated that business upon close and recorded those assets at fair value, including $640 of trade names, $271 of distribution networks and $346 of goodwill that is reported in the WarnerMedia segment. Dispositions Video Business On July 31, 2021, we closed our transaction with TPG to form a new company named DIRECTV, which is jointly governed by a board with representation from both AT&T and TPG, with TPG having tie-breaking authority on certain key decisions, most significantly the appointment and removal of the CEO. In connection with the transaction, we contributed our U.S. Video business unit to DIRECTV for $4,250 of junior preferred units, an additional distribution preference of $4,200 and a 70% economic interest in common units (collectively “equity considerations”). TPG contributed approximately $1,800 in cash to DIRECTV for $1,800 of senior preferred units and a 30% economic interest in common units. See Note 10 for additional information on our accounting for our investment in DIRECTV. Upon close of the transaction in the third quarter, we received approximately $7,170 in cash from DIRECTV ($7,600, net of $430 cash on hand) and transferred $195 of DIRECTV debt. Approximately $1,800 of the cash received is reported as cash received from financing activities in our consolidated statement of cash flows, as it relates to a note payable to DIRECTV, for which payment is tied to our agreement to cover net losses under the remaining term of the NFL SUNDAY TICKET contract up to a cap of $2,100 over the remaining period of the contract. The remainder of the net proceeds is reported as cash from investing activities. This transaction did not result in a material gain or loss. 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, included the assets in “Prepaid and other current assets,” and the related liabilities in “Accounts payable and accrued liabilities,” on our consolidated balance sheet, up until the close of the transaction. The held-for-sale classification also resulted in ceasing depreciation and amortization on the designated assets. The assets and liabilities of the Video operations, transferred to DIRECTV upon close of the transaction, were as follows: Current assets $ 4,893 Property, plant and equipment – net 2,673 Licenses – net 5,798 Other intangible assets – net 1,634 Other assets 1,787 Total Video assets $ 16,785 Current liabilities $ 4,267 Long-term debt 206 Other noncurrent liabilities 343 Total Video liabilities $ 4,816 Vrio On November 15, 2021, we completed the sale of our Latin America video operations, Vrio, to Grupo Werthein and recorded a note receivable of $610 to be paid over four years, of which $300 is in the form of seller financing and the remainder is related to working capital adjustments. In the second quarter of 2021, we classified the Vrio disposal group as held-for-sale and reported the disposal group at fair value less cost to sell, which resulted in a noncash, pre-tax impairment charge of $4,555, including approximately $2,100 related to accumulated foreign currency translation adjustments and $2,500 related to property, plant and equipment and intangible assets. Approximately $80 of the impairment was attributable to noncontrolling interest. The assets and liabilities removed from our consolidated balance sheet included $851 of Vrio held-for-sale assets primarily related to deferred customer contract acquisition and fulfillment costs, prepaids and other deferred charges, and $2,872 of related liabilities primarily for reserves associated with accumulated foreign currency translation adjustments, which reversed against accumulated other comprehensive income upon close of the transaction. This disposition did not result in a net material gain or loss. We continue to hold a 41.3% interest in SKY Mexico, a leading pay-TV provider in Mexico. Otter Media During the third quarter of 2021, we disposed of substantially all of the assets of Otter Media. We received approximately $1,540 in cash and removed approximately $1,200 of goodwill associated with these assets. The dispositions did not result in a material gain or loss. Playdemic Ltd. On September 20, 2021, we sold WarnerMedia’s mobile games app studio, Playdemic Ltd. (Playdemic) for approximately $1,370 in cash and recognized a pre-tax gain of $706 in “Other income (expense) – net,” on our consolidated statement of income. Approximately $600 of goodwill was removed related to this business. Playdemic was excluded from the pending WarnerMedia/Discovery transaction. Central European Media Enterprises Ltd. (CME) On October 13, 2020, we completed the sale of our 65.3% interest in CME, a European broadcasting company, for approximately $1,100. This disposition did not result in a material gain or loss. Upon close, we received relief from a debt guarantee originally covering approximately $1,100 that was reduced to $600 at the time of the sale. Operations in Puerto Rico On October 31, 2020, we completed the sale of our previously held-for-sale wireless and wireline operations in Puerto Rico and the U.S. Virgin Islands for approximately $1,950 and recorded a pre-tax loss of $82. Upon sale we removed held-for-sale assets (“Prepaid and other current assets”) and held-for-sale liabilities (“Accounts payable and accrued liabilities”) that primarily consisted of FCC licenses (approximately $1,100), allocated goodwill (approximately $250), net property, plant and equipment (approximately $850) and net tax liabilities (approximately $500), previously reported on our consolidated balance sheets. The proceeds were used to redeem $1,950 of cumulative preferred interests in a subsidiary that held notes secured by the proceeds of this sale. Hudson Yards In June 2019, we sold our ownership in Hudson Yards North Tower Holdings LLC under a sale-leaseback arrangement for cash proceeds of $2,081 and recorded a loss of approximately $100 resulting from transaction costs (primarily real estate transfer taxes). Hulu In April 2019, we sold our ownership interest in Hulu for cash proceeds of $1,430 and recorded a pre-tax gain of $740. Pending Dispositions WarnerMedia On May 17, 2021, we entered into an agreement to combine our WarnerMedia segment, subject to certain exceptions, with a subsidiary of Discovery, Inc. (Discovery). The agreement is structured as a Reverse Morris Trust transaction, under which WarnerMedia will be distributed to AT&T’s shareholders via a pro rata dividend, an exchange offer, or a combination of both, followed by its combination with Discovery. The transaction is expected to be tax-free to AT&T and AT&T’s shareholders. AT&T will receive approximately $43,000 (subject to working capital and other adjustments) in a combination of cash, debt securities, and WarnerMedia’s retention of certain debt. AT&T’s shareholders will receive stock representing approximately 71% of the new company; Discovery shareholders will own approximately 29% of the new company. On February 1, 2022, we announced that we will structure the distribution as a spin-off rather than an exchange offer. Upon closing of the transaction, each AT&T shareholder will receive, on a tax-free basis, an estimated 0.24 shares of the new company for each share of AT&T common stock held as of the record date for the pro rata distribution. The exact number of shares to be received by AT&T shareholders for each AT&T common share will be determined closer to the closing based on the number of shares of AT&T common stock outstanding and the number of shares of Discovery common stock outstanding on an as-converted and as-exercised basis. AT&T shareholders will continue to hold the same number of shares of AT&T common stock after the transaction closes. The transaction is expected to close in the second quarter of 2022, subject to approval by Discovery shareholders and customary closing conditions, including receipt of regulatory approvals. No vote is required by AT&T shareholders. Upon close of the transaction, WarnerMedia will be deconsolidated. The merger agreement contains certain customary termination rights for AT&T and Discovery, including, without limitation, a right for either party to terminate if the transaction is not completed on or before July 15, 2023. Termination fees under specified circumstances will require Discovery to pay AT&T $720 or AT&T to pay Discovery $1,770. Magallanes, Inc. (Spinco), a subsidiary of AT&T, entered into a $41,500 commitment letter (Bridge Loan) on May 17, 2021. On June 4, 2021, Spinco entered into a $10,000 term loan credit agreement (Spinco Term Loan) and reduced the aggregate commitment amount under the Bridge Loan to $31,500. There have been no draws on the Bridge Loan or the Spinco Term Loan. In the event advances are made under the Bridge Loan or Spinco Term Loan, those advances will be used by Spinco to finance a portion of the cash distribution to AT&T in connection with the transaction. Xandr On December 21, 2021, we entered into an agreement to sell the marketplace component of Xandr, primarily representing the AppNexus business, to Microsoft, which is expected to close in 2022, subject to customary regulatory approvals. This advertising business is included in our WarnerMedia segment and is excluded from the WarnerMedia/Discovery transaction. We applied held-for-sale accounting treatment to the related assets and liabilities of this business, resulting in approximately $550 of goodwill and other intangible assets being reclassified to “Prepaid and other current assets” as of December 31, 2021. |
Property, Plant And Equipment
Property, Plant And Equipment | 12 Months Ended |
Dec. 31, 2021 | |
Property, Plant and Equipment [Abstract] | |
Property, Plant And Equipment | NOTE 7. PROPERTY, PLANT AND EQUIPMENT Property, plant and equipment is summarized as follows at December 31: Lives (years) 2021 2020 Land - $ 2,458 $ 2,571 Buildings and improvements 2-44 39,306 39,418 Central office equipment 1 3-10 97,069 95,981 Cable, wiring and conduit 15-50 79,961 75,409 Satellites 14-17 103 908 Other equipment 3-20 86,830 90,883 Software 3-7 17,916 18,482 Under construction - 5,845 4,099 329,488 327,751 Accumulated depreciation and amortization 203,584 200,436 Property, plant and equipment – net $ 125,904 $ 127,315 1 Includes certain network software. Our depreciation expense was $18,629 in 2021, $20,504 in 2020, and $20,758 in 2019. Depreciation expense included amortization of software totaling $3,021 in 2021, $3,483 in 2020 and $3,313 in 2019. In December 2020, we reassessed our grouping of long-lived assets and identified certain impairment indicators, requiring us to evaluate the recoverability of the long-lived assets of our former video business. Based on this evaluation, we determined that these assets were not fully recoverable and recognized pre-tax impairment charges totaling $7,255, of which $1,681 relates to property, plant and equipment, including satellites. The reduced carrying amounts of the impaired assets became their new cost basis. In 2019, we recorded a noncash pre-tax charge of $1,290 to abandon copper assets that we no longer expect will be utilized to support future network activity. The abandonment was considered outside the ordinary course of business. |
Leases
Leases | 12 Months Ended |
Dec. 31, 2021 | |
Leases [Abstract] | |
Leases | NOTE 8. LEASES We have operating and finance leases for certain facilities and equipment used in our 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 a corresponding 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: 2021 2020 2019 Operating lease cost $ 5,793 $ 5,896 $ 5,684 Finance lease cost: Amortization of right-of-use assets $ 256 $ 287 $ 271 Interest on lease obligation 162 156 169 Total finance lease cost $ 418 $ 443 $ 440 The following table provides supplemental cash flows information related to leases: 2021 2020 2019 Cash Flows from Operating Activities Cash paid for amounts included in lease obligations: Operating cash flows from operating leases $ 5,012 $ 4,852 $ 4,583 Supplemental Lease Cash Flow Disclosures Operating lease right-of-use assets obtained in exchange for new operating lease obligations $ 4,581 $ 5,270 $ 7,818 The following tables set forth supplemental balance sheet information related to leases at December 31: 2021 2020 Operating Leases Operating lease right-of-use assets $ 24,180 $ 24,714 Accounts payable and accrued liabilities $ 3,706 $ 3,537 Operating lease obligation 21,261 22,202 Total operating lease obligation $ 24,967 $ 25,739 Finance Leases Property, plant and equipment, at cost $ 2,609 $ 3,586 Accumulated depreciation and amortization (1,120) (1,361) Property, plant and equipment – net $ 1,489 $ 2,225 Current portion of long-term debt $ 137 $ 189 Long-term debt 1,484 1,847 Total finance lease obligation $ 1,621 $ 2,036 2021 2020 Weighted-Average Remaining Lease Term (years) Operating leases 8.4 8.5 Finance leases 8.4 9.9 Weighted-Average Discount Rate Operating leases 3.7 % 4.1 % Finance leases 7.8 % 8.1 % The following table provides the expected future minimum maturities of lease obligations: At December 31, 2021 Operating Leases Finance 2022 $ 4,922 $ 299 2023 4,502 283 2024 3,970 257 2025 3,232 246 2026 2,540 243 Thereafter 10,686 1,068 Total lease payments 29,852 2,396 Less: imputed interest (4,885) (775) Total $ 24,967 $ 1,621 |
Leases | NOTE 8. LEASES We have operating and finance leases for certain facilities and equipment used in our 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 a corresponding 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: 2021 2020 2019 Operating lease cost $ 5,793 $ 5,896 $ 5,684 Finance lease cost: Amortization of right-of-use assets $ 256 $ 287 $ 271 Interest on lease obligation 162 156 169 Total finance lease cost $ 418 $ 443 $ 440 The following table provides supplemental cash flows information related to leases: 2021 2020 2019 Cash Flows from Operating Activities Cash paid for amounts included in lease obligations: Operating cash flows from operating leases $ 5,012 $ 4,852 $ 4,583 Supplemental Lease Cash Flow Disclosures Operating lease right-of-use assets obtained in exchange for new operating lease obligations $ 4,581 $ 5,270 $ 7,818 The following tables set forth supplemental balance sheet information related to leases at December 31: 2021 2020 Operating Leases Operating lease right-of-use assets $ 24,180 $ 24,714 Accounts payable and accrued liabilities $ 3,706 $ 3,537 Operating lease obligation 21,261 22,202 Total operating lease obligation $ 24,967 $ 25,739 Finance Leases Property, plant and equipment, at cost $ 2,609 $ 3,586 Accumulated depreciation and amortization (1,120) (1,361) Property, plant and equipment – net $ 1,489 $ 2,225 Current portion of long-term debt $ 137 $ 189 Long-term debt 1,484 1,847 Total finance lease obligation $ 1,621 $ 2,036 2021 2020 Weighted-Average Remaining Lease Term (years) Operating leases 8.4 8.5 Finance leases 8.4 9.9 Weighted-Average Discount Rate Operating leases 3.7 % 4.1 % Finance leases 7.8 % 8.1 % The following table provides the expected future minimum maturities of lease obligations: At December 31, 2021 Operating Leases Finance 2022 $ 4,922 $ 299 2023 4,502 283 2024 3,970 257 2025 3,232 246 2026 2,540 243 Thereafter 10,686 1,068 Total lease payments 29,852 2,396 Less: imputed interest (4,885) (775) Total $ 24,967 $ 1,621 |
Goodwill And Other Intangible A
Goodwill And Other Intangible Assets | 12 Months Ended |
Dec. 31, 2021 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill And Other Intangible Assets | NOTE 9. GOODWILL AND OTHER INTANGIBLE ASSETS We test goodwill for impairment at a reporting unit level, which is deemed to be our principal operating segments or one level below. With our annual impairment testing as of October 1, 2021, the calculated fair values of the reporting units exceeded their book values in all circumstances; however, the WarnerMedia fair value exceeded its book value by less than 10%, with industry trends and our content distribution strategy affecting fair value. 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 no impairment was identified. Changes to our goodwill in 2021 primarily resulted from the following transactions (see Note 6): • The agreement to sell our marketplace component of Xandr, our advertising business within the WarnerMedia segment. Approximately $400 of goodwill was allocated to the business and classified as held-for-sale. • Our disposition of substantially all the assets of Otter Media and removal of $885 of associated goodwill. • Our sale of WarnerMedia’s mobile games app studio, Playdemic and removal of $600 of associated goodwill. Other changes to our goodwill in 2021 primarily resulted from the sale of our Government Solutions business and foreign currency translation. In December 2020, we changed our management strategy and reevaluated our former domestic video business, allowing us to maximize value in our former domestic video business and further accelerate our ability to innovate and execute in our fast-growing broadband and fiber business. The strategy change required us to reassess the grouping and recoverability of the former video business long-lived assets. In conjunction with the strategy change, we separated the former Entertainment Group reporting unit into two reporting units, Video and Consumer Wireline, which includes legacy telephony operations. Our recoverability assessment resulted in $7,255 of long-lived asset impairment in the former video business, including $4,373 for orbital slots and $1,201 for customer lists. The change in reporting units required the historical Entertainment Group goodwill to be assigned to the separate Video and Consumer Wireline reporting units, for which we used the relative fair value allocation methodology. The affected reporting units were then tested for goodwill impairment. We recorded an impairment of the entire $8,253 of goodwill allocated to the Video reporting unit. No goodwill impairment was required in the Consumer Wireline reporting unit. We closed our transaction with TPG and deconsolidated Video in the third quarter of 2021 (see Note 6). In the second quarter of 2020, driven by significant and adverse economic and political environments in Latin America, including the impact of COVID-19, we experienced accelerated subscriber losses and revenue decline in the region, as well as closure of our operations in Venezuela. When combining these business trends and higher weighted-average cost of capital resulting from the increase in country-risk premiums in the region, we concluded that it was more likely than not that the fair value of the Vrio reporting unit, estimated using discounted cash flow and market multiple approaches, was less than its carrying amount. We recorded a $2,212 goodwill impairment in the Vrio reporting unit, with $105 attributable to noncontrolling interest. Vrio was sold in the fourth quarter of 2021 (see Note 6). Other changes to our goodwill in 2020 resulted from foreign currency translation, the held-for-sale treatment of Crunchyroll and our acquisition of the remaining interest in HBO LAG (see Note 6). In 2020, Xandr was combined with our WarnerMedia segment. At December 31, 2021, our Communications segment has three reporting units: Mobility, Business Wireline and Consumer Wireline. The reporting unit is deemed to be the operating segment for WarnerMedia and Latin America. The following table sets forth the changes in the carrying amounts of goodwill by operating segment: 2021 2020 Balance at Dispositions, Balance at Balance at Acquisitions Impairments Dispositions, Balance at Communications $ 91,976 $ (76) $ 91,900 $ 100,234 $ — $ (8,253) $ (5) $ 91,976 WarnerMedia 42,447 (1,940) 40,507 42,345 415 — (313) 42,447 Latin America 836 (20) 816 3,662 — (2,212) (614) 836 Total $ 135,259 $ (2,036) $ 133,223 $ 146,241 $ 415 $ (10,465) $ (932) $ 135,259 We review amortizing intangible assets for impairment whenever events or circumstances indicate that the carrying amount may not be recoverable over the remaining life of the asset or asset group, including the video business previously discussed. In 2021, as a result of the separation of our U.S. video business (see Note 6), we removed $5,798 of orbital slot licenses and $1,585 of customer lists that were transferred to DIRECTV. As a result of the transaction to sell our Latin America video operations (see Note 6), we classified the Vrio disposal group as held-for-sale and reported the disposal group at fair value less cost to sell, which resulted in the impairment of certain intangibles related to this business, including $241 for customer lists, $632 for trade names and $89 for amortizable wireless licenses. Indefinite-lived wireless licenses increased in 2021 due to recent auction activity (see Note 6). In 2020, we changed the estimated lives of our orbital slot licenses from indefinite to finite-lived and began amortizing them over their average remaining economic life of 15 years (see Note 1). Our other intangible assets at December 31 are summarized as follows: 2021 2020 Other Intangible Assets Weighted-Average Life Gross Carrying Accumulated Currency Gross Carrying Accumulated Currency Amortized intangible assets: Wireless licenses 21.6 years $ 3,083 $ 307 $ (440) $ 2,979 $ 271 $ (421) Orbital slots N/A — — — 5,825 — — Trademarks and trade names 38.3 years 18,781 2,077 (7) 20,016 1,518 (442) Distribution network 10.0 years 18,399 6,457 — 18,414 4,621 — Released television and film content 17.8 years 10,939 6,978 — 10,940 6,240 — Customer lists and relationships 11.2 years 637 483 (98) 4,100 1,645 (460) Other 22.3 years 10,987 3,221 — 11,311 2,615 (5) Total 24.6 years $ 62,826 $ 19,523 $ (545) $ 73,585 $ 16,910 $ (1,328) Indefinite-lived intangible assets not subject to amortization: Wireless licenses $ 111,494 $ 85,728 Trade names 5,241 5,241 Total $ 116,735 $ 90,969 Amortized intangible assets are definite-life assets, and, as such, we record amortization expense based on a method that most appropriately reflects our expected cash flows from these assets. Amortization expense for definite-life intangible assets in 2021 reflected the separation of our U.S. video and Vrio businesses and was $4,288 for the year ended December 31, 2021, $8,239 for the year ended December 31, 2020 and $7,932 for the year ended December 31, 2019. Estimated amortization expense for the next five years is as follows: Year AT&T Inc. Attributable to WarnerMedia 1 2022 $ 3,907 $ 3,747 2023 3,895 3,741 2024 3,524 3,377 2025 3,394 3,258 2026 3,309 3,174 1 The pending WarnerMedia/Discovery transaction is expected to close in the second quarter of 2022, subject to approval by Discovery shareholders and customary closing conditions. (See Note 6) |
Equity Method Investments
Equity Method Investments | 12 Months Ended |
Dec. 31, 2021 | |
Equity Method Investments and Joint Ventures [Abstract] | |
Equity Method Investments | NOTE 10. EQUITY METHOD INVESTMENTS Investments in partnerships, joint ventures and less than majority-owned subsidiaries in which we have significant influence are accounted for under the equity method. On July 31, 2021, we closed our transaction with TPG to form a new company named DIRECTV (see Note 6). The transaction resulted in our deconsolidation of the Video Business, with DIRECTV being accounted for under the equity method beginning August 1, 2021. In May 2020, we acquired the remaining interest in HBO LAG and fully consolidated that entity. In October 2020, we sold our ownership interest in CME. (See Note 6) In 2019, we sold our investments in Hudson Yards and Hulu. (See Note 6) Our investments in equity affiliates at December 31, 2021 primarily included our interests in DIRECTV, SKY Mexico and The CW Network. DIRECTV We account for our investment in DIRECTV under the equity method of accounting. DIRECTV is considered a variable interest entity for accounting purposes. As DIRECTV is jointly governed by a board with representation from both AT&T and TPG, with TPG having tie-breaking authority on certain key decisions, most significantly the appointment and removal of the CEO, we have concluded that we are not the primary beneficiary of DIRECTV. The ownership interests in DIRECTV, based on seniority are as follows: • Preferred units with distribution rights of $1,800 held by TPG, which were fully distributed by December 31, 2021. • Junior preferred units with distribution rights of $4,250 held by AT&T, of which $3,212 of distribution rights remain as of December 31, 2021. • Distribution preference associated with Common units of $4,200 held by AT&T. • Common units, with 70% held by AT&T and 30% held by TPG. The initial fair value of the equity considerations on July 31, 2021 was $6,852, which was determined using a discounted cash flow model reflecting distribution rights and preference of the individual instruments. During 2021, we recognized $619 of equity in net income of affiliates and received total distributions of $1,942 from DIRECTV. The book value of our investment in DIRECTV at December 31, 2021 was $5,539. Our share of net income or loss may differ from the stated ownership percentage interest of DIRECTV as the terms of the arrangement prescribe substantive non-proportionate cash distributions, both from operations and in liquidation, that are based on classes of interests held by investors. In the event that DIRECTV records a loss, that loss will be allocated to ownership interests based on their seniority, beginning with the most subordinated interests. SKY Mexico We hold a 41.3% interest in SKY Mexico, which is a leading pay-TV provider in Mexico. The CW Network (The CW) We hold a 50.0% interest in The CW, which is an advertising supported broadcasting and licensing joint venture between Warner Bros. and CBS Corporation. The following table is a reconciliation of our investments in equity affiliates as presented on our consolidated balance sheets: 2021 2020 Beginning of year $ 1,780 $ 3,695 Additional investments 265 178 Receipt of equity interest in DIRECTV 6,852 — Distributions from DIRECTV in excess of cumulative equity in earnings (1,323) — Other capital distributions (26) (22) Dividends and distributions of cumulative earnings received (815) (133) Equity in net income of affiliates 631 95 Acquisition of remaining interest in HBO LAG — (1,141) Disposition of CME — (749) Impairments — (146) Disposition of various investments (68) — Currency translation adjustments (16) (10) Other adjustments (6) 13 End of year $ 7,274 $ 1,780 |
Inventories And Theatrical Film
Inventories And Theatrical Film And Television Production Costs | 12 Months Ended |
Dec. 31, 2021 | |
Inventory Disclosure [Abstract] | |
Inventories And Theatrical Film And Television Production Costs | NOTE 11. INVENTORIES AND THEATRICAL FILM AND TELEVISION PRODUCTION COSTS Film and television production costs are stated at the lower of cost, less accumulated amortization, or fair value and include the unamortized cost of completed theatrical films and television episodes, theatrical films and television series in production and undeveloped film and television rights. The amount of capitalized film and television production costs recognized as broadcast, programming and operations expenses for a given period is determined using the film forecast computation method. In the fourth quarter of 2020, we recognized an impairment of $524 based on a change in these estimates for various film titles. This change in estimates was driven by the continued shutdown of theaters during the pandemic, including the resurgence of an outbreak in the fourth quarter and the impact of our decision to release our 2021 movies in theaters and on HBO Max at the same time. The following table summarizes inventories and theatrical film and television production costs as of December 31: 2021 2020 Inventories: Programming costs, less amortization 1 $ 7,101 $ 6,010 Other inventory, primarily DVD and Blu-ray Discs 134 103 Total inventories 7,235 6,113 Less: current portion of inventory (134) (103) Total noncurrent inventories 7,101 6,010 Theatrical film production costs: 2 Released, less amortization 525 487 Completed and not released 343 616 In production 1,687 1,130 Development and pre-production 143 190 Television production costs: 2 Released, less amortization 3,335 2,495 Completed and not released 1,350 1,381 In production 4,376 2,353 Development and pre-production 123 90 Total theatrical film and television production costs 11,882 8,742 Total noncurrent inventories and theatrical film and television production costs $ 18,983 $ 14,752 1 Includes the costs of certain programming rights, primarily sports, for which payments have been made prior to the related rights being received. 2 Does not include $3,961 and $4,699 of acquired film and television library intangible assets as of December 31, 2021 and 2020, respectively, which are included in “Other Intangible Assets – Net” on our consolidated balance sheets. Approximately 89% of unamortized film costs for released theatrical and television content are expected to be amortized within three years from December 31, 2021. In addition, approximately $3,464 of the film costs of released and completed and not released theatrical and television product are expected to be amortized during 2022. |
Debt
Debt | 12 Months Ended |
Dec. 31, 2021 | |
Debt Disclosure [Abstract] | |
Debt | NOTE 12. DEBT Long-term debt of AT&T and its subsidiaries, including interest rates and maturities, is summarized as follows at December 31: 2021 2020 Notes and debentures Interest Rates Maturities 1 0.69% - 2.99% 2021 - 2039 $ 31,841 $ 25,549 3.00% - 4.99% 2021 - 2061 108,003 110,317 5.00% - 6.99% 2021 - 2095 23,360 24,259 7.00% - 9.15% 2021 - 2097 5,645 5,006 Credit agreement borrowings 10,400 300 Fair value of interest rate swaps recorded in debt 16 20 179,265 165,451 Unamortized (discount) premium – net (9,610) (9,710) Unamortized issuance costs (508) (532) Total notes and debentures 169,147 155,209 Finance lease obligations 1,621 2,036 Total long-term debt, including current maturities 170,768 157,245 Current maturities of long-term debt (7,944) (3,470) Current maturities of credit agreement borrowings (10,100) — Total long-term debt $ 152,724 $ 153,775 1 Maturities assume puttable debt is redeemed by the holders at the next opportunity. We had outstanding Euro, British pound sterling, Canadian dollar, Mexican peso, Australian dollar, and Swiss franc denominated debt of approximately $41,249 and $43,399 at December 31, 2021 and 2020, respectively. The weighted-average interest rate of our long-term debt portfolio, including, credit agreement borrowings and the impact of derivatives, was approximately 3.8% as of December 31, 2021 and 4.1% as of December 31, 2020. Debt maturing within one year consisted of the following at December 31: 2021 2020 Current maturities of long-term debt $ 7,944 $ 3,470 Commercial paper 6,586 — Credit agreement borrowings 10,100 — Total $ 24,630 $ 3,470 Financing Activities During 2021, we received net proceeds of $8,931 on the issuance of $8,949 in long-term debt and proceeds of $10,100 on the issuance of credit agreement borrowings in various markets, with an average weighted maturity of approximately 2.3 years and a weighted average interest rate of 1.4%. We repaid $2,904 in borrowings of various notes with a weighted average coupon of 3.5%. Our debt activity during 2021 primarily consisted of the following: First Second Third Fourth Full Year 2021 Net commercial paper borrowings 1 $ 7,072 $ (513) $ (2) $ 4 $ 6,561 Issuance of Notes and Debentures 2 : U.S. dollar denominated global notes $ 6,000 $ — $ — $ — $ 6,000 Initial average rate of 1.27% Euro denominated global notes (converted to USD at issuance) 1,461 — — — 1,461 Rate of 0.00% 2021 Syndicated Term Loan 7,350 — — — 7,350 BAML Bilateral Term Loan 2,000 — — — 2,000 Private financing 750 — — — 750 Other 636 — 835 — 1,471 Debt Issuances $ 18,197 $ — $ 835 $ — $ 19,032 Repayments: Private financing $ (649) $ — $ — $ — $ (649) 2.650% Euro denominated global notes due 2021 — — — (1,349) (1,349) Other (253) (253) (498) (140) (1,144) Repayments of long-term debt $ (902) $ (253) $ (498) $ (1,489) $ (3,142) 1 Includes $1,316 net issuance of commercial paper with original maturities of three months or less, $12,755 of commercial paper issued greater than 90 days and $7,510 of commercial paper repaid greater than 90 days. 2 Includes credit agreement borrowing. Tender Offers and Debt Exchanges In August 2020, we repurchased $11,384 of AT&T global notes and subsidiary notes due 2021 to 2025 through cash tender offers. In September 2020, we exchanged $17,677 of AT&T and subsidiary notes, with interest rates ranging from 4.350% to 8.750% and original maturities ranging from 2031 to 2058 for $1,459 of cash and $21,500 of three new series of AT&T Inc. global notes, with interest rates ranging from 3.500% to 3.650% and maturities ranging from 2053 to 2059. In December 2020, we also exchanged $8,280 of AT&T and subsidiary notes, with interest rates ranging from 2.950% to 7.125% and original maturities ranging from 2026 to 2048 for $8 of cash and $9,678 of two new series of AT&T global notes, with interest rates of 2.550% and 3.800% and maturities of 2033 and 2057, respectively. As of December 31, 2021 and 2020, we were in compliance with all covenants and conditions of instruments governing our debt. Substantially all of our outstanding long-term debt is unsecured. Maturities of outstanding long-term notes and debentures, as of December 31, 2021, and the corresponding weighted-average interest rate scheduled for repayment are as follows: 2022 2023 2024 2025 2026 Thereafter Debt repayments 1 $ 18,185 $ 7,739 $ 11,562 $ 6,484 $ 10,557 $ 126,922 Weighted-average interest rate 2 1.9 % 3.4 % 2.9 % 3.9 % 3.3 % 4.2 % 1 Debt repayments represent maturity value and assume puttable debt is redeemed at the next opportunity. Foreign debt includes the impact from hedges, when applicable. Includes credit agreement borrowings. 2 Includes credit agreement borrowings. Credit Facilities General In April 2020, we entered into and drew on a $5,500 Term Loan Credit Agreement (Term Loan) with 11 commercial banks and Bank of America, N.A. as lead agent. We repaid and terminated the Term Loan in May 2020. 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 was terminated. As of December 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 $1,000 facility originally due December 31, 2021 (BAML Tranche A Facility) and subsequently extended to December 31, 2022 in the fourth quarter of 2021, and (ii) a $1,000 facility due December 31, 2022 (BAML Tranche B Facility), with Bank of America, N.A., as agent. At December 31, 2021, $2,000 was outstanding under these facilities. Revolving Credit Agreements In November 2020, we amended one of our $7,500 revolving credit agreements by extending the termination date. In total, we have two $7,500 revolving credit agreements, totaling $15,000, with one terminating on December 11, 2023 and the other terminating on November 17, 2025. No amounts were outstanding under either agreement as of December 31, 2021. Each of our credit and loan agreements contains covenants that are customary for an issuer with an investment grade senior debt credit rating as well as a net debt-to-EBITDA financial ratio covenant requiring AT&T to maintain, as of the last day of each fiscal quarter through June 30, 2023, a ratio of not more than 4.0-to-1, and a ratio of not more than 3.5-to-1 for any fiscal quarter thereafter. As of December 31, 2021, we were in compliance with the covenants for our credit facilities. The events of default are customary for agreements of this type and such events would result in the acceleration of, or would permit the lenders to accelerate, as applicable, required payments and would increase each agreement’s relevant Applicable Margin by 2.00% per annum. The obligations of the lenders under two revolving credit agreements to provide advances will terminate on December 11, 2023, and November 17, 2025, unless the commitments are terminated in whole prior to that date. All advances must be repaid no later than the date on which lenders are no longer obligated to make any advances under the applicable credit agreement. Each of the credit agreements provides that we and lenders representing more than 50% of the facility amount may agree to extend their commitments under such Credit Agreement for two one-year periods beyond the initial termination date. We have the right to terminate, in whole or in part, amounts committed by the lenders under each of the credit agreements in excess of any outstanding advances; however, any such terminated commitments may not be reinstated. Advances under these agreements would bear interest, at our option, either: • at a variable annual rate equal to: (1) the highest of (but not less than zero) (a) the rate of interest announced publicly by Citibank in New York, New York, from time to time, as Citibank’s base rate, (b) 0.5% per annum above the federal funds rate, and (c) the London interbank offered rate (or the successor thereto) (“LIBOR”) applicable to dollars for a period of one month plus 1.00%, plus (2) an applicable margin, as set forth in the applicable Credit Agreement (the “Applicable Margin for Base Advances”); or • at a rate equal to: (i) LIBOR (adjusted upwards to reflect any bank reserve costs) for a period of one, two, three or six months, as applicable, plus (ii) an applicable margin, as set forth in the applicable Credit Agreement (the “Applicable Margin for Eurodollar Rate Advances”). We pay a facility fee of 0.070%, 0.080%, 0.100% or 0.125% per annum of the amount of the lender commitments, depending on AT&T’s credit rating. |
Fair Value Measurements And Dis
Fair Value Measurements And Disclosure | 12 Months Ended |
Dec. 31, 2021 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements And Disclosure | NOTE 13. 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: December 31, 2021 December 31, 2020 Carrying Fair Carrying Fair Notes and debentures 1 $ 169,147 $ 194,891 $ 155,209 $ 187,224 Commercial paper 6,586 6,586 — — Investment securities 2 3,374 3,374 3,249 3,249 1 Includes credit agreement borrowings. Excludes note payable to DIRECTV. 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 December 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. December 31, 2021 Level 1 Level 2 Level 3 Total Equity Securities Domestic equities $ 1,256 $ — $ — $ 1,256 International equities 227 — — 227 Fixed income equities 230 — — 230 Available-for-Sale Debt Securities — 1,384 — 1,384 Asset Derivatives Cross-currency swaps — 211 — 211 Foreign exchange contracts — 8 — 8 Liability Derivatives Cross-currency swaps — (3,170) — (3,170) Foreign exchange contracts — (41) — (41) 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: For the years ended December 31, 2021 2020 2019 Total gains (losses) recognized on equity securities $ 293 $ 171 $ 301 Gains (Losses) recognized on equity securities sold (5) (25) 100 Unrealized gains (losses) recognized on equity securities held at end of period $ 298 $ 196 $ 201 At December 31, 2021, available-for-sale debt securities totaling $1,384 have maturities as follows - less than one year: $41; one to three years: $171; three to five years: $179; five or more years: $993. 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. For these hedges we have elected to exclude the change in fair value of the cross-currency swap related to both time value and cross-currency basis spread from the assessment of hedge effectiveness. 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, including the earnings impact of excluded components. In instances where we have elected to exclude components from the assessment of hedge effectiveness 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 over the life of the hedging instrument. Unrealized gains on derivatives designated as fair value hedges are recorded at fair value as assets, and unrealized losses are recorded at fair 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 years ended December 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 $73 from accumulated OCI to “Interest expense” due to the amortization of net losses on historical interest rate locks. Net Investment Hedging We have designated €1,450 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 for 2021 were $122. Collateral and Credit-Risk Contingency We have entered into agreements with our derivative counterparties establishing collateral thresholds based on respective credit ratings and netting agreements. At December 31, 2021, we had posted collateral of $135 (a deposit asset) and held collateral of $7 (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 December, we would have been required to post additional collateral of $36. 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 $2,816. 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 at December 31: 2021 2020 Cross-currency swaps $ 40,737 $ 40,745 Foreign exchange contracts 30 90 Total $ 40,767 $ 40,835 Following are the related hedged items affecting our financial position and performance: Effect of Derivatives on the Consolidated Statements of Income Fair Value Hedging Relationships For the years ended December 31, 2021 2020 2019 Interest rate swaps (Interest expense): Gain (Loss) on interest rate swaps $ (4) $ (6) $ 58 Gain (Loss) on long-term debt 4 6 (58) Cross-currency swaps: Gain (Loss) on cross-currency swaps (91) — — Gain (Loss) on long-term debt 91 — — Gain (Loss) recognized in accumulated OCI (17) — — In addition, the net swap settlements that accrued and settled in the periods above were offset against “Interest expense.” Cash Flow Hedging Relationships For the years ended December 31, 2021 2020 2019 Cross-currency swaps: Gain (Loss) recognized in accumulated OCI $ (873) $ (378) $ (1,066) Foreign exchange contracts: Gain (Loss) recognized in accumulated OCI (17) 3 10 Other income (expense) – net reclassified from accumulated OCI into income 1 (3) 6 Interest rate locks: Gain (Loss) recognized in accumulated OCI — (648) (84) Interest income (expense) reclassified from accumulated OCI into income (92) (84) (63) Nonrecurring Fair Value Measurements In addition to assets and liabilities that are recorded at fair value on a recurring basis, impairment indicators may subject goodwill, long-lived assets and film costs to nonrecurring fair value measurements. The implied fair values of the U.S. video and Vrio businesses were estimated using both the discounted cash flow as well as market multiple approaches. The fair values of long-lived assets in the U.S. video business were determined using a present value approach of probability-weighted expected cash flows. The fair values of film productions were estimated using a discounted cash flow approach. The inputs to all of these approaches are considered Level 3. Our nonrecurring fair value measurements also include the valuation of our initial investment in DIRECTV at July 31, 2021 (see Note 10). This nonrecurring fair value measurement was estimated using a discounted cash flow approach. The inputs to these models are considered Level 3. |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2021 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | NOTE 14. INCOME TAXES Significant components of our deferred tax liabilities (assets) are as follows at December 31: 2021 2020 Depreciation and amortization $ 47,433 $ 46,952 Licenses and nonamortizable intangibles 15,576 13,930 Employee benefits (3,338) (5,279) Deferred fulfillment costs 1,797 2,691 Equity in partnership 3,285 — Net operating loss and other carryforwards (6,703) (7,355) Other – net 2,308 4,562 Subtotal 60,358 55,501 Deferred tax assets valuation allowance 4,638 4,773 Net deferred tax liabilities $ 64,996 $ 60,274 Noncurrent deferred tax liabilities $ 65,226 $ 60,472 Less: Noncurrent deferred tax assets (230) (198) Net deferred tax liabilities $ 64,996 $ 60,274 At December 31, 2021, we had combined net operating and capital loss carryforwards (tax effected) for federal income tax purposes of $452, state of $1,012 and foreign of $2,709, expiring through 2041. Additionally, we had federal credit carryforwards of $604 and state credit carryforwards of $1,926, expiring primarily through 2041. We recognize a valuation allowance if, based on the weight of available evidence, it is more likely than not that some portion, or all, of a deferred tax asset will not be realized. Our valuation allowances at December 31, 2021 and 2020 related primarily to state and foreign net operating losses and state credit carryforwards. We consider post-1986 unremitted foreign earnings subjected to the one-time transition tax not to be indefinitely reinvested as such earnings can be repatriated without any significant incremental tax costs. We consider other types of unremitted foreign earnings to be indefinitely reinvested. U.S. income and foreign withholding taxes have not been recorded on temporary differences related to investments in certain foreign subsidiaries as such differences are considered indefinitely reinvested. Determination of the amount of unrecognized deferred tax liability is not practicable. We recognize the financial statement effects of a tax return position when it is more likely than not, based on the technical merits, that the position will ultimately be sustained. For tax positions that meet this recognition threshold, we apply our judgment, taking into account applicable tax laws, our experience in managing tax audits and relevant GAAP, to determine the amount of tax benefits to recognize in our financial statements. For each position, the difference between the benefit realized on our tax return and the benefit reflected in our financial statements is recorded on our consolidated balance sheets as an unrecognized tax benefit (UTB). We update our UTBs at each financial statement date to reflect the impacts of audit settlements and other resolutions of audit issues, the expiration of statutes of limitation, developments in tax law and ongoing discussions with taxing authorities. A reconciliation of the change in our UTB balance from January 1 to December 31 for 2021 and 2020 is as follows: Federal, State and Foreign Tax 2021 2020 Balance at beginning of year $ 10,001 $ 10,979 Increases for tax positions related to the current year 677 1,580 Increases for tax positions related to prior years 443 112 Decreases for tax positions related to prior years (1,344) (994) Lapse of statute of limitations (29) (24) Settlements (342) (1,646) Current year dispositions (4) — Foreign currency effects — (6) Balance at end of year 9,402 10,001 Accrued interest and penalties 2,221 2,450 Gross unrecognized income tax benefits 11,623 12,451 Less: Deferred federal and state income tax benefits (799) (878) Less: Tax attributable to timing items included above (3,515) (3,588) Total UTB that, if recognized, would impact the effective income tax rate as of the end of the year $ 7,309 $ 7,985 Periodically we make deposits to taxing jurisdictions which reduce our UTB balance but are not included in the reconciliation above. The amount of deposits that reduced our UTB balance was $377 at December 31, 2021 and $702 at December 31, 2020. Accrued interest and penalties included in UTBs were $2,221 as of December 31, 2021 and $2,450 as of December 31, 2020. We record interest and penalties related to federal, state and foreign UTBs in income tax expense. The net interest and penalty expense (benefit) included in income tax expense was $(155) for 2021, $149 for 2020 and $267 for 2019. We file income tax returns in the U.S. federal jurisdiction and various state, local and foreign jurisdictions. As a large taxpayer, our income tax returns are regularly audited by the Internal Revenue Service (IRS) and other taxing authorities. The IRS has completed field examinations of our tax returns through 2012. All audit periods prior to 2005 are closed for federal examination purposes and we have effectively resolved all outstanding audit issues for years through 2010 with the IRS Appeals Division. Those years will be closed as the final paperwork is processed in the coming months. While we do not expect material changes, we are generally unable to estimate the range of impacts on the balance of the remaining uncertain tax positions or the impact on the effective tax rate from the resolution of these issues until each year is closed; and it is possible that the amount of unrecognized benefit with respect to our uncertain tax positions could increase or decrease within the next 12 months. The components of income tax (benefit) expense are as follows: 2021 2020 2019 Federal: Current $ (1,198) $ (687) $ 584 Deferred 5,296 1,039 1,656 4,098 352 2,240 State and local: Current 646 (6) 603 Deferred 456 263 144 1,102 257 747 Foreign: Current 516 413 605 Deferred (248) (57) (99) 268 356 506 Total $ 5,468 $ 965 $ 3,493 “Income (Loss) Before Income Taxes” in the Consolidated Statements of Income included the following components for the years ended December 31: 2021 2020 2019 U.S. income (loss) before income taxes $ 30,223 $ (452) $ 18,301 Foreign income (loss) before income taxes (3,276) (2,404) 167 Total $ 26,947 $ (2,856) $ 18,468 A reconciliation of income tax expense (benefit) and the amount computed by applying the statutory federal income tax rate of 21% to income from continuing operations before income taxes is as follows: 2021 2020 2019 Taxes computed at federal statutory rate $ 5,659 $ (600) $ 3,878 Increases (decreases) in income taxes resulting from: State and local income taxes – net of federal income tax benefit 967 193 611 CARES Act federal NOL carryback (471) — — Tax on foreign investments (68) (141) (115) Noncontrolling interest (294) (285) (230) Permanent items and R&D credit (163) (239) (285) Audit resolutions (298) (112) (156) Divestitures (112) 107 — Goodwill impairment 1 250 2,120 — Other – net (2) (78) (210) Total $ 5,468 $ 965 $ 3,493 Effective Tax Rate 20.3 % (33.8) % 18.9 % 1 Goodwill impairments are not deductible for tax purposes. On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security (CARES) Act was enacted, which allows for a Net Operating Loss (NOL) generated in 2020 to be carried back to a year with a federal rate of 35%. During 2021, we recorded a $471 tax benefit for the rate impact of the 2020 NOL carryback adjusted for the domestic manufacturing deduction limitation in the carryback year and applicable unrecognized tax benefits. AT&T is subject to the Global Intangible Low Taxed Income (GILTI) provisions created under the Tax Cuts and Jobs Act of 2017. We report the tax impact of GILTI as a period cost when incurred. |
Pension And Postretirement Bene
Pension And Postretirement Benefits | 12 Months Ended |
Dec. 31, 2021 | |
Retirement Benefits [Abstract] | |
Pension And Postretirement Benefits | NOTE 15. PENSION AND POSTRETIREMENT BENEFITS We offer noncontributory pension programs covering the majority of domestic nonmanagement employees in our Communications business. Nonmanagement employees’ pension benefits are generally calculated using one of two formulas: a flat dollar amount applied to years of service according to job classification or a cash balance plan with negotiated annual pension band credits as well as interest credits. Most employees can elect to receive their pension benefits in either a lump sum payment or an annuity. Pension programs covering U.S. management employees are closed to new entrants. These programs continue to provide benefits to participants that were generally hired before January 1, 2015, who receive benefits under either cash balance pension programs that include annual or monthly credits based on salary as well as interest credits, or a traditional pension formula (i.e., a stated percentage of employees’ adjusted career income). We also provide a variety of medical, dental and life insurance benefits to certain retired employees under various plans and accrue actuarially determined postretirement benefit costs as active employees earn these benefits. WarnerMedia and certain of its subsidiaries have both funded and unfunded defined benefit pension plans, the substantial majority of which are noncontributory plans covering domestic employees. WarnerMedia also sponsors unfunded domestic postretirement benefit plans covering certain retirees and their dependents. At acquisition, the plans were already closed to new entrants and frozen for new accruals. During the fourth quarter of 2020, we committed to, and reflected in our results, plan changes impacting retiree life and death coverage and health and medical subsidy benefits. Changes were also communicated that impact future pension accruals for certain management employees. These plan changes align our benefit plans to, or above market level. Obligations and Funded Status For defined benefit pension plans, the benefit obligation is the projected benefit obligation, the actuarial present value, as of our December 31 measurement date, of all benefits attributed by the pension benefit formula to employee service rendered to that date. The amount of benefit to be paid depends on a number of future events incorporated into the pension benefit formula, including estimates of the average life of employees and their beneficiaries and average years of service rendered. It is measured based on assumptions concerning future interest rates and future employee compensation levels as applicable. For postretirement benefit plans, the benefit obligation is the accumulated postretirement benefit obligation, the actuarial present value as of the measurement date of all future benefits attributed under the terms of the postretirement benefit plans to employee service. The following table presents the change in the projected benefit obligation for the years ended December 31: Pension Benefits Postretirement Benefits 2021 2020 2021 2020 Benefit obligation at beginning of year $ 62,158 $ 59,873 $ 13,928 $ 16,041 Service cost - benefits earned during the period 957 1,029 45 53 Interest cost on projected benefit obligation 1,276 1,687 210 416 Amendments — (340) — (2,655) Actuarial (gain) loss (1,237) 5,054 (275) 1,423 Benefits paid, including settlements (5,942) (5,124) (1,356) (1,370) Curtailment — (1) — — Plan transfers — (20) — 20 Benefit obligation at end of year $ 57,212 $ 62,158 $ 12,552 $ 13,928 The following table presents the change in the fair value of plan assets for the years ended December 31 and the plans’ funded status at December 31: Pension Benefits Postretirement Benefits 2021 2020 2021 2020 Fair value of plan assets at beginning of year $ 54,606 $ 53,530 $ 3,843 $ 4,145 Actual return on plan assets 5,737 6,199 210 302 Benefits paid, including settlements 1 (5,942) (5,124) (1,163) (1,029) Contributions — 2 308 425 Plan transfers — (1) — — Fair value of plan assets at end of year 54,401 54,606 3,198 3,843 Unfunded status at end of year 2 $ (2,811) $ (7,552) $ (9,354) $ (10,085) 1 At our discretion, certain postretirement benefits may be paid from our cash accounts, which does not reduce Voluntary Employee Benefit Association (VEBA) assets. Future benefit payments may be made from VEBA trusts and thus reduce those asset balances. 2 Funded status is not indicative of our ability to pay ongoing pension benefits or of our obligation to fund retirement trusts. Required pension funding is determined in accordance with the Employee Retirement Income Security Act of 1974, as amended (ERISA) and applicable regulations. Amounts recognized on our consolidated balance sheets at December 31 are listed below: Pension Benefits Postretirement Benefits 2021 2020 2021 2020 Current portion of employee benefit obligation 1 $ — $ — $ (1,106) $ (1,213) Employee benefit obligation 2 (2,811) (7,552) (8,248) (8,872) Net amount recognized $ (2,811) $ (7,552) $ (9,354) $ (10,085) 1 Included in “Accounts payable and accrued liabilities.” 2 Included in “Postemployment benefit obligation,” combined with international pension obligations and other postemployment obligations of $364 and $1,226 at December 31, 2021, and $553 and $1,299 at December 31, 2020, respectively. The accumulated benefit obligation for our pension plans represents the actuarial present value of benefits based on employee service and compensation as of a certain date and does not include an assumption about future compensation levels. The accumulated benefit obligation for our pension plans was $56,159 at December 31, 2021, and $60,848 at December 31, 2020. Net Periodic Benefit Cost and Other Amounts Recognized in Other Comprehensive Income Periodic Benefit Costs The service cost component of net periodic pension cost (credit) is recorded in operating expenses in the consolidated statements of income while the remaining components are recorded in “Other income (expense) – net.” Our combined net pension and postretirement cost (credit) recognized in our consolidated statements of income was $(7,652), $711 and $2,762 for the years ended December 31, 2021, 2020 and 2019. The following table presents the components of net periodic benefit cost (credit): Pension Benefits Postretirement Benefits 2021 2020 2019 2021 2020 2019 Service cost – benefits earned during the period $ 957 $ 1,029 $ 1,019 $ 45 $ 53 $ 71 Interest cost on projected benefit obligation 1,276 1,687 1,960 210 416 675 Expected return on assets (3,513) (3,557) (3,561) (151) (178) (227) Amortization of prior service credit (144) (113) (113) (2,537) (2,329) (1,820) Net periodic benefit cost (credit) before (1,424) (954) (695) (2,433) (2,038) (1,301) Actuarial (gain) loss (3,461) 2,404 3,088 (334) 1,299 1,670 Net pension and postretirement $ (4,885) $ 1,450 $ 2,393 $ (2,767) $ (739) $ 369 Other Changes in Benefit Obligations Recognized in Other Comprehensive Income The following table presents the after-tax changes in benefit obligations recognized in OCI and the after-tax prior service credits that were amortized from OCI into net periodic benefit costs: Pension Benefits Postretirement Benefits 2021 2020 2019 2021 2020 2019 Balance at beginning of year $ 525 $ 361 $ 447 $ 8,416 $ 8,171 $ 6,086 Prior service (cost) credit — 250 — — 2,001 3,457 Amortization of prior service credit (109) (86) (86) (1,912) (1,756) (1,372) Total recognized in other comprehensive (income) loss (109) 164 (86) (1,912) 245 2,085 Balance at end of year $ 416 $ 525 $ 361 $ 6,504 $ 8,416 $ 8,171 Assumptions In determining the projected benefit obligation and the net pension and postretirement benefit cost, we used the following significant weighted-average assumptions: Pension Benefits Postretirement Benefits 2021 2020 2019 2021 2020 2019 Weighted-average discount rate for determining benefit obligation at December 31 3.00 % 2.70 % 3.40 % 2.80 % 2.40 % 3.20 % Discount rate in effect for determining service cost 1 3.30 % 3.60 % 4.10 % 2.90 % 3.50 % 4.40 % Discount rate in effect for determining interest cost 1 2.30 % 2.90 % 3.50 % 1.60 % 2.70 % 3.70 % Weighted-average interest credit rate for cash balance pension programs 2 3.20 % 3.10 % 3.30 % — % — % — % Long-term rate of return on plan assets 6.75 % 7.00 % 7.00 % 4.50 % 4.75 % 5.75 % Composite rate of compensation increase for determining benefit obligation 3.00 % 3.00 % 3.00 % 3.00 % 3.00 % 3.00 % Composite rate of compensation increase for determining net cost (benefit) 3.00 % 3.00 % 3.00 % 3.00 % 3.00 % 3.00 % 1 Weighted-average discount rates shown for years with interim remeasurements: 2021 and 2019 for pension benefits and 2019 for postretirement benefits. 2 Weighted-average interest crediting rates for cash balance pension programs relate only to the cash balance portion of total pension benefits. A 0.50% increase in the weighted-average interest crediting rate would increase the pension benefit obligation by $125. We recognize gains and losses on pension and postretirement plan assets and obligations immediately in “Other income (expense) – net” in our consolidated statements of income. These gains and losses are generally measured annually as of December 31 and accordingly, will normally be recorded during the fourth quarter, unless an earlier remeasurement is required. Should actual experience differ from actuarial assumptions, the projected pension benefit obligation and net pension cost and accumulated postretirement benefit obligation and postretirement benefit cost would be affected in future years. Discount Rate Our assumed weighted-average discount rate for pension and postretirement benefits of 3.00% and 2.80% respectively, at December 31, 2021, reflects the hypothetical rate at which the projected benefit obligation could be effectively settled or paid out to participants. We determined our discount rate based on a range of factors, including a yield curve composed of the rates of return on several hundred high-quality, fixed income corporate bonds available at the measurement date and corresponding to the related expected durations of future cash outflows. These bonds had an average rating of at least Aa3 or AA- by the nationally recognized statistical rating organizations, denominated in U.S. dollars, and neither callable, convertible nor index linked. For the year ended December 31, 2021, when compared to the year ended December 31, 2020, we increased our pension discount rate by 0.30%, resulting in a decrease in our pension plan benefit obligation of $1,645 and increased our postretirement discount rate by 0.40%, resulting in a decrease in our postretirement benefit obligation of $341. For the year ended December 31, 2020, we decreased our pension discount rate by 0.70%, resulting in an increase in our pension plan benefit obligation of $5,594 and decreased our postretirement discount rates by 0.80%, resulting in an increase in our postretirement benefit obligation of $1,311. We utilize a full yield curve approach in the estimation of the service and interest components of net periodic benefit costs for pension and other postretirement benefits. Under this approach, we apply discounting using individual spot rates from a yield curve composed of the rates of return on several hundred high-quality, fixed income corporate bonds available at the measurement date. These spot rates align to each of the projected benefit obligations and service cost cash flows. The service cost component relates to the active participants in the plan, so the relevant cash flows on which to apply the yield curve are considerably longer in duration on average than the total projected benefit obligation cash flows, which also include benefit payments to retirees. Interest cost is computed by multiplying each spot rate by the corresponding discounted projected benefit obligation cash flows. The full yield curve approach reduces any actuarial gains and losses based upon interest rate expectations (e.g., built-in gains in interest cost in an upward sloping yield curve scenario), or gains and losses merely resulting from the timing and magnitude of cash outflows associated with our benefit obligations. Neither the annual measurement of our total benefit obligations nor annual net benefit cost is affected by the full yield curve approach. Expected Long-Term Rate of Return In 2022, our expected long-term rate of return is 6.75% on pension plan assets and 4.50% on postretirement plan assets. Our long-term rates of return reflect the average rate of earnings expected on the funds invested, or to be invested, to provide for the benefits included in the projected benefit obligations. In setting the long-term assumed rate of return, management considers capital markets’ future expectations, the asset mix of the plans’ investment and average historical asset return. Actual long-term returns can, in relatively stable markets, also serve as a factor in determining future expectations. We consider many factors that include, but are not limited to, historical returns on plan assets, current market information on long-term returns (e.g., long-term bond rates) and current and target asset allocations between asset categories. The target asset allocation is determined based on consultations with external investment advisers. If all other factors were to remain unchanged, we expect that a 0.50% decrease in the expected long-term rate of return would cause 2022 combined pension and postretirement cost to increase $272. However, any differences in the rate and actual returns will be included with the actuarial gain or loss recorded in the fourth quarter when our plans are remeasured. Composite Rate of Compensation Increase Our expected composite rate of compensation increase cost of 3.00% in 2021 and 2020 reflects the long-term average rate of salary increases. Healthcare Cost Trend Our healthcare cost trend assumptions are developed based on historical cost data, the near-term outlook and an assessment of likely long-term trends. Based on our assessment of expectations of healthcare industry inflation, our 2022 assumed annual healthcare prescription drug cost trend and medical cost trend for eligible participants will increase from an annual and ultimate trend rate of 4.00% to an annual and ultimate trend rate of 4.25%. This change in assumption increased our obligation by $31. For 2021, our assumed annual healthcare prescription drug cost trend and medical cost trend for eligible participants remained at 4.00% annual and ultimate rate. Plan Assets Plan assets consist primarily of private and public equity, government and corporate bonds, and real assets (real estate and natural resources). The asset allocations of the pension plans are maintained to meet ERISA requirements. Any plan contributions, as determined by ERISA regulations, are made to a pension trust for the benefit of plan participants. We do not have significant ERISA required contributions to our pension plans for 2022. We maintain VEBA trusts to partially fund postretirement benefits; however, there are no ERISA or regulatory requirements that these postretirement benefit plans be funded annually. We made discretionary contributions of $308 in December 2021 and $425 in December 2020 to our postretirement plan. The principal investment objectives are to ensure the availability of funds to pay pension and postretirement benefits as they become due under a broad range of future economic scenarios, maximize long-term investment return with an acceptable level of risk based on our pension and postretirement obligations, and diversify broadly across and within the capital markets to insulate asset values against adverse experience in any one market. Each asset class has broadly diversified characteristics. Substantial biases toward any particular investing style or type of security are sought to be avoided by managing the aggregation of all accounts with portfolio benchmarks. Asset and benefit obligation forecasting studies are conducted periodically, generally every two to three years, or when significant changes have occurred in market conditions, benefits, participant demographics or funded status. Decisions regarding investment policy are made with an understanding of the effect of asset allocation on funded status, future contributions and projected expenses. The plans’ weighted-average asset targets and actual allocations as a percentage of plan assets, including the notional exposure of future contracts by asset categories at December 31 are as follows: Pension Assets Postretirement (VEBA) Assets Target 2021 2020 Target 2021 2020 Equity securities: Domestic 12 % - 22 % 16 % 19 % 14 % - 24 % 19 % 19 % International 8 % - 18 % 13 15 14 % - 24 % 19 14 Fixed income securities 35 % - 45 % 38 35 34 % - 44 % 39 45 Real assets 7 % - 17 % 10 8 — % - 6 % 1 1 Private equity 3 % - 13 % 12 9 — % - 6 % 1 1 Preferred interests 5 % - 15 % 10 10 — % - — % — — Other — % - 5 % 1 % 4 17 % - 27 % 21 20 Total 100 % 100 % 100 % 100 % The pension trust holds preferred equity interests valued at $5,562 in AT&T Mobility II LLC (Mobility II), the primary holding company for our wireless business (see Note 17). During 2020, the trust sold a portion of these preferred interests valued at $2,885 to third party investors. The preferred equity interests were valued at $5,771 as of December 31, 2020. At December 31, 2021, AT&T securities represented 11% of assets held by our pension trust, including the preferred interests in Mobility II. The VEBA trusts included in these financial statements no longer hold AT&T securities. Investment Valuation Investments are stated at fair value. Fair value is the price that would be received to sell an asset or paid to transfer a liability at the measurement date. Investments in securities traded on a national securities exchange are valued at the last reported sales price on the final business day of the year. If no sale was reported on that date, they are valued at the last reported bid price. Investments in securities not traded on a national securities exchange are valued using pricing models, quoted prices of securities with similar characteristics or discounted cash flows. Shares of registered investment companies are valued based on quoted market prices, which represent the net asset value of shares held at year-end. Other commingled investment entities are valued at quoted redemption values that represent the net asset values of units held at year-end which management has determined approximates fair value. Real estate and natural resource direct investments are valued at amounts based upon appraisal reports. Fixed income securities valuation is based upon observable prices for comparable assets, broker/dealer quotes (spreads or prices), or a pricing matrix that derives spreads for each bond based on external market data, including the current credit rating for the bonds, credit spreads to Treasuries for each credit rating, sector add-ons or credits, issue-specific add-ons or credits as well as call or other options. The preferred interests in Mobility II are valued by an independent fiduciary using an income approach. Purchases and sales of securities are recorded as of the trade date. Realized gains and losses on sales of securities are determined on the basis of average cost. Interest income is recognized on the accrual basis. Dividend income is recognized on the ex-dividend date. Non-interest bearing cash and overdrafts are valued at cost, which approximates fair value. Fair Value Measurements See Note 13 for a discussion of the fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The following tables set forth by level, within the fair value hierarchy, the pension and postretirement assets and liabilities at fair value as of December 31, 2021: Pension Assets and Liabilities at Fair Value as of December 31, 2021 Level 1 Level 2 Level 3 Total Non-interest bearing cash $ 167 $ — $ — $ 167 Interest bearing cash 11 — — 11 Foreign currency contracts — 5 — 5 Equity securities: Domestic equities 7,693 — 1 7,694 International equities 4,117 — 7 4,124 Preferred interests — — 5,562 5,562 Fixed income securities: Corporate bonds and other investments — 11,168 2 11,170 Government and municipal bonds — 6,977 — 6,977 Mortgage-backed securities — 268 — 268 Real estate and real assets — — 3,318 3,318 Securities lending collateral 1,645 1,285 — 2,930 Receivable for variation margin 8 — — 8 Assets at fair value 13,641 19,703 8,890 42,234 Investments sold short and other liabilities at fair value (529) (3) (1) (533) Total plan net assets at fair value $ 13,112 $ 19,700 $ 8,889 $ 41,701 Assets held at net asset value practical expedient Private equity funds 6,454 Real estate funds 2,329 Commingled funds 6,780 Total assets held at net asset value practical expedient 15,563 Other assets (liabilities) 1 (2,863) Total Plan Net Assets $ 54,401 1 Other assets (liabilities) include amounts receivable, accounts payable and net adjustment for securities lending payable. Postretirement Assets and Liabilities at Fair Value as of December 31, 2021 Level 1 Level 2 Level 3 Total Interest bearing cash $ 371 $ 295 $ — $ 666 Equity securities: Domestic equities 323 — — 323 International equities 287 — 1 288 Fixed income securities: Corporate bonds and other investments 1 — — 1 Securities lending collateral — 9 — 9 Assets at fair value 982 304 1 1,287 Securities lending payable and other liabilities — (9) — (9) Total plan net assets at fair value $ 982 $ 295 $ 1 $ 1,278 Assets held at net asset value practical expedient Commingled funds 1,883 Private equity 19 Real estate funds 16 Total assets held at net asset value practical expedient 1,918 Other assets (liabilities) 1 2 Total Plan Net Assets $ 3,198 1 Other assets (liabilities) include amounts receivable and accounts payable. The tables below set forth a summary of changes in the fair value of the Level 3 pension and postretirement assets for the year ended December 31, 2021: Pension Assets Equities Fixed Income Funds Real Estate and Real Assets Total Balance at beginning of year $ 5,793 $ 53 $ 2,544 $ 8,390 Realized gains (losses) 2 — (31) (29) Unrealized gains (losses) (203) — 558 355 Transfers in — 1 — 1 Transfers out (7) (8) — (15) Purchases 7 1 425 433 Sales (23) (45) (178) (246) Balance at end of year $ 5,569 $ 2 $ 3,318 $ 8,889 Postretirement Assets Equities Fixed Income Funds Real Estate and Real Assets Total Balance at beginning of year $ — $ 4 $ — $ 4 Realized gains (losses) — (1) — (1) Unrealized gains (losses) — 1 — 1 Transfers in 1 — — 1 Sales — (4) — (4) Balance at end of year $ 1 $ — $ — $ 1 The following tables set forth by level, within the fair value hierarchy, the pension and postretirement assets and liabilities at fair value as of December 31, 2020: Pension Assets and Liabilities at Fair Value as of December 31, 2020 Level 1 Level 2 Level 3 Total Non-interest bearing cash $ 173 $ — $ — $ 173 Interest bearing cash 7 — — 7 Foreign currency contracts — 3 — 3 Equity securities: Domestic equities 9,784 — 11 9,795 International equities 4,821 11 12 4,844 Preferred interests — — 5,771 5,771 Fixed income securities: Corporate bonds and other investments — 11,043 52 11,095 Government and municipal bonds — 6,039 — 6,039 Mortgage-backed securities — 442 1 443 Real estate and real assets — — 2,544 2,544 Securities lending collateral 621 1,435 — 2,056 Receivable for variation margin 23 — — 23 Assets at fair value 15,429 18,973 8,391 42,793 Investments sold short and other liabilities at fair value (450) (8) (1) (459) Total plan net assets at fair value $ 14,979 $ 18,965 $ 8,390 $ 42,334 Assets held at net asset value practical expedient Private equity funds 5,154 Real estate funds 1,694 Commingled funds 7,706 Total assets held at net asset value practical expedient 14,554 Other assets (liabilities) 1 (2,282) Total Plan Net Assets $ 54,606 1 Other assets (liabilities) include amounts receivable, accounts payable and net adjustment for securities lending payable. Postretirement Assets and Liabilities at Fair Value as of December 31, 2020 Level 1 Level 2 Level 3 Total Interest bearing cash $ 497 $ 302 $ — $ 799 Equity securities: Domestic equities 363 — — 363 International equities 282 — — 282 Fixed income securities: Corporate bonds and other investments 5 307 3 315 Government and municipal bonds 6 132 1 139 Mortgage-backed securities — 94 — 94 Securities lending collateral — 28 — 28 Assets at fair value 1,153 863 4 2,020 Securities lending payable and other liabilities (1) (29) — (30) Total plan net assets at fair value $ 1,152 $ 834 $ 4 $ 1,990 Assets held at net asset value practical expedient Private equity funds 24 Real estate funds 22 Commingled funds 1,843 Total assets held at net asset value practical expedient 1,889 Other assets (liabilities) 1 (36) Total Plan Net Assets $ 3,843 1 Other assets (liabilities) include amounts receivable and accounts payable. The tables below set forth a summary of changes in the fair value of the Level 3 pension and postretirement assets for the year ended December 31, 2020: Pension Assets Equities Fixed Income Funds Real Estate and Real Assets Total Balance at beginning of year $ 8,816 $ 6 $ 2,817 $ 11,639 Realized gains (losses) (150) — 255 105 Unrealized gains (losses) 3 — (178) (175) Transfers in 4 51 36 91 Transfers out — (3) — (3) Purchases 9,114 1 223 9,338 Sales (11,994) (2) (609) (12,605) Balance at end of year $ 5,793 $ 53 $ 2,544 $ 8,390 Postretirement Assets Equities Fixed Income Funds Real Estate and Real Assets Total Balance at beginning of year $ — $ 32 $ — $ 32 Transfers in — 3 — 3 Transfers out — (11) — (11) Sales — (20) — (20) Balance at end of year $ — $ 4 $ — $ 4 Estimated Future Benefit Payments Expected benefit payments are estimated using the same assumptions used in determining our benefit obligation at December 31, 2021. Because benefit payments will depend on future employment and compensation levels; average years employed; average life spans; and payment elections, among other factors, changes in any of these assumptions could significantly affect these expected amounts. The following table provides expected benefit payments under our pension and postretirement plans: Pension Benefits Postretirement Benefits 2022 $ 5,922 $ 1,262 2023 4,237 1,181 2024 4,121 888 2025 4,113 842 2026 3,934 794 Years 2027 - 2031 18,292 3,544 Supplemental Retirement Plans We also provide certain senior- and middle-management employees with nonqualified, unfunded supplemental retirement and savings plans. While these plans are unfunded, we have assets in a designated non-bankruptcy remote trust that are independently managed and used to provide for certain of these benefits. These plans include supplemental pension benefits as well as compensation-deferral plans, some of which include a corresponding match by us based on a percentage of the compensation deferral. For our supplemental retirement plans, the projected benefit obligation was $2,326 and the net supplemental retirement pension credit was $41 at and for the year ended December 31, 2021. The projected benefit obligation was $2,687 and the net supplemental retirement pension cost was $330 at and for the year ended December 31, 2020. We use the same significant assumptions for the composite rate of compensation increase in determining our projected benefit obligation and the net pension and postemployment benefit cost. Our discount rates of 2.70% at December 31, 2021 and 2.30% at December 31, 2020 were calculated using the same methodologies used in calculating the discount rate for our qualified pension and postretirement benefit plans. Deferred compensation expense was $171 in 2021, $183 in 2020 and $199 in 2019. Contributory Savings Plans We maintain contributory savings plans that cover substantially all employees. Under the savings plans, we match in cash or company stock a stated percentage of eligible employee contributions, subject to a specified ceiling. There are no debt-financed shares held by the Employee Stock Ownership Plans, allocated or unallocated. Our match of employee contributions to the savings plans is fulfilled with purchases of our stock on the open market or company cash. Benefit cost, which is based on the cost of shares or units allocated to participating employees’ accounts or the cash contributed to participant accounts, was $760, $814 and $793 for the years ended December 31, 2021, 2020 and 2019. |
Share-Based Payments
Share-Based Payments | 12 Months Ended |
Dec. 31, 2021 | |
Share-based Payment Arrangement [Abstract] | |
Share-Based Payments | NOTE 16. SHARE-BASED PAYMENTS Under our various plans, senior and other management employees and nonemployee directors have received nonvested stock and stock units. In conjunction with the 2018 acquisition of Time Warner, restricted stock units issued under Time Warner plans were converted to AT&T share units that will be distributed in the form of AT&T common stock and cash. The shares will vest over a period of one We grant performance stock units, which are nonvested stock units, based upon our stock price at the date of grant and award them in the form of AT&T common stock and cash at the end of a three three five three We account for our share-based payment arrangements based on the fair value of the awards on their respective grant date, which may affect our ability to fully realize the value shown on our consolidated balance sheets of deferred tax assets associated with compensation expense. We record a valuation allowance when our future taxable income is not expected to be sufficient to recover the asset. Accordingly, there can be no assurance that the current stock price of our common shares will rise to levels sufficient to realize the entire tax benefit currently reflected on our consolidated balance sheets. However, to the extent we generate excess tax benefits (i.e., those additional tax benefits in excess of the deferred taxes associated with compensation expense previously recognized) the potential future impact on income would be reduced. Our consolidated statements of income include the compensation cost recognized for those plans as operating expenses, as well as the associated tax benefits, which are reflected in the table below: 2021 2020 2019 Performance stock units $ 245 $ 348 $ 544 Restricted stock and stock units 385 290 273 Other nonvested stock units 7 — 7 Stock options — — (5) Total $ 637 $ 638 $ 819 Income tax benefit $ 157 $ 157 $ 202 A summary of the status of our nonvested stock units as of December 31, 2021, and changes during the year then ended is presented as follows (shares in millions): Nonvested Stock Units Shares Weighted-Average Grant- Nonvested at January 1, 2021 43 $ 34.50 Granted 36 28.79 Vested (26) 31.56 Forfeited (4) 31.52 Nonvested at December 31, 2021 49 $ 32.06 As of December 31, 2021, there was $916 of total unrecognized compensation cost related to nonvested share-based payment arrangements granted. That cost is expected to be recognized over a weighted-average period of 1.95 years. The total fair value of shares vested during the year was $811 for 2021, compared to $647 for 2020 and $798 for 2019. It is our intent to satisfy share option exercises using our treasury stock. Cash received from stock option exercises was $60 for 2021, $65 for 2020 and $446 for 2019. |
Stockholders' Equity
Stockholders' Equity | 12 Months Ended |
Dec. 31, 2021 | |
Stockholders' Equity Note [Abstract] | |
Stockholders' Equity | NOTE 17. STOCKHOLDERS’ EQUITY Authorized Shares We have authorized 14 billion common shares of AT&T stock and 10 million preferred shares of AT&T stock, each with a par value of $1.00 per share. Cumulative perpetual preferred shares consist of the following: • Series A: 48 thousand shares outstanding at December 31, 2021 and December 31, 2020, with a $25,000 per share liquidation preference and a dividend rate of 5.000%. • Series B: 20 thousand shares outstanding at December 31, 2021 and December 31, 2020, with a €100,000 per share liquidation preference, and an initial rate of 2.875%, subject to reset after May 1, 2025. • Series C: 70 thousand shares outstanding at December 31, 2021 and December 31, 2020, with a $25,000 per share liquidation preference, and a dividend rate of 4.75%. So long as the quarterly preferred dividends are declared and paid on a timely basis on each series of preferred shares, there are no limitations on our ability to declare a dividend on or repurchase AT&T common shares. The preferred shares are optionally redeemable by AT&T at the liquidation price on or after five years from the issuance date, or upon certain other contingent events. Stock Repurchase Program From time to time, we repurchase shares of common stock for distribution through our employee benefit plans or in connection with certain acquisitions. Our Board of Directors has approved the following authorization to repurchase common stock: (1) March 2013 authorization program of 300 million shares, which was completed in 2020 and (2) March 2014 authorization program for 300 million shares, with approximately 178 million outstanding at December 31, 2021. To implement these authorizations, we used open market repurchases, relying on Rule 10b5-1 of the Securities Exchange Act of 1934, where feasible. We also used accelerated share repurchase agreements with large financial institutions to repurchase our stock. During 2020, we repurchased approximately 142 million shares totaling $5,278 under the March 2013 and March 2014 authorizations. During 2021, there were no shares repurchased under the March 2014 authorization. Dividend Declarations In December 2021 and December 2020, AT&T declared a quarterly preferred dividend of $36 and a quarterly common dividend of $0.52 per share of common stock. Preferred Interests Issued by Subsidiaries We have issued cumulative perpetual preferred membership interests in certain subsidiaries. The preferred interests are entitled to cash distributions, subject to declaration. The preferred interests are included in “Noncontrolling interest” on the consolidated balance sheets. Mobility II We previously issued 320 million Series A Cumulative Perpetual Preferred Membership Interests in Mobility II (Mobility preferred interests), representing all currently outstanding Mobility preferred equity interests, which pay cash distributions of $560 per annum, subject to declaration. So long as the distributions are declared and paid, the terms of the Mobility preferred equity interests will not impose any limitations on cash movements between affiliates, or our ability to declare a dividend on or repurchase AT&T shares. A holder of the Mobility preferred interests may put the interests to Mobility II. Mobility II may redeem the interests upon a change in control of Mobility II or on or after September 9, 2022. When either option arises due to a passage of time, that option may be exercised only during certain periods. The price at which a put option or a redemption option can be exercised is the greater of (1) the market value of the interests as of the last date of the quarter preceding the date of the exercise of a put or redemption option and (2) the sum of (a) twenty-five dollars ($8,000 in the aggregate) plus (b) any accrued and unpaid distributions. The redemption price may be paid with cash, AT&T common stock, or a combination of cash and AT&T common stock, at Mobility II’s sole election. In no event shall Mobility II be required to deliver more than 250 million shares of AT&T common stock to settle put and redemption options. We have the intent and ability to settle the Mobility preferred equity interests with cash. Tower Holdings In 2019, we issued $6,000 nonconvertible cumulative preferred interests in a wireless subsidiary (Tower Holdings) that holds interests in various tower assets and have the right to receive approximately $6,000 if the purchase options from the tower companies are exercised. The membership interests in Tower Holdings consist of (1) common interests, which are held by a consolidated subsidiary of AT&T, and (2) two series of preferred interests (collectively the “Tower preferred interests”). The September series (Class A-1) of the preferred interests totals $1,500 and pays an initial preferred distribution of 5.0%, and the December series (Class A-2) totals $4,500 and pays an initial preferred distribution of 4.75%. Distributions are paid quarterly, subject to declaration, and reset every five years. Any failure to declare or pay distributions on the Tower preferred interests would not impose any limitation on cash movements between affiliates, or our ability to declare a dividend on or repurchase AT&T shares. We can call the Tower preferred interests at the issue price beginning five years from the issuance date or upon the receipt of proceeds from the sale of the underlying assets. The holders of the Tower preferred interests have the option to require redemption upon the occurrence of certain contingent events, such as the failure of AT&T to pay the preferred distribution for two or more periods or to meet certain other requirements, including a minimum credit rating. If notice is given upon such an event, all other holders of equal or more subordinate classes of membership interests in Tower Holdings are entitled to receive the same form of consideration payable to the holders of the preferred interests, resulting in a deemed liquidation for accounting purposes. Telco LLC In September 2020, we issued $2,000 nonconvertible cumulative preferred interests out of a newly created limited liability company (Telco LLC) that was formed to hold telecommunication-related assets. Members’ equity in Telco LLC consist of (1) member’s interests, which are held by a consolidated subsidiary of AT&T, and (2) preferred interests (Telco preferred interests), which pay an initial preferred distribution of 4.25% annually, subject to declaration, and subject to reset every seven years. Failure to pay distributions on the Telco preferred interests would not limit cash movements between affiliates, or our ability to declare a dividend on or repurchase AT&T shares. We can call the Telco preferred interests at the issue price beginning seven years from the issuance date. The holders of the Telco preferred interests have the option to require redemption upon the occurrence of certain contingent events, such as the failure of Telco LLC to pay the preferred distribution for two or more periods or to meet certain other requirements, including a minimum credit rating. If notice is given, all other holders of equal or more subordinate classes of members’ equity are entitled to receive the same form of consideration payable to the holders of the preferred interests, resulting in a deemed liquidation for accounting purposes. PR Holdings In 2019, we issued $1,950 nonconvertible cumulative preferred interests in a subsidiary (PR Holdings) that held notes secured by the proceeds from our agreement to sell wireless and wireline operations in Puerto Rico and the U.S. Virgin Islands. These preferred interests were redeemed on November 6, 2020. (See Note 6) The membership interests in PR Holdings consisted of (1) common interests, which were held by consolidated subsidiaries of AT&T, and (2) preferred interests (PR preferred interests). The PR preferred interests paid an initial preferred distribution at an annual rate of 4.75%. Distributions were paid quarterly, subject to declaration. |
Sales Of Receivables
Sales Of Receivables | 12 Months Ended |
Dec. 31, 2021 | |
Receivables [Abstract] | |
Sales Of Receivables | NOTE 18. 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 receivables programs are discussed in detail below. The following table sets forth a summary of the receivables and accounts being serviced at December 31: 2021 2020 Equipment Installment Revolving Equipment Installment Revolving Gross receivables: $ 4,361 $ 3,527 $ 5,565 $ 3,909 Balance sheet classification Accounts receivable Notes receivable 1,846 — 2,716 — Trade receivables 606 3,337 554 3,715 Other Assets Noncurrent notes and trade receivables 1,909 190 2,295 194 Outstanding portfolio of receivables derecognized from our consolidated balance sheets 9,767 6,280 7,827 5,300 Cash proceeds received, net of remittances 1 6,644 6,280 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: 2021 2020 2019 Gross receivables sold $ 10,793 $ 7,270 $ 9,921 Net receivables sold 1 10,502 7,026 9,483 Cash proceeds received 9,740 6,089 8,189 Deferred purchase price recorded 1,080 1,021 1,451 Guarantee obligation recorded 434 157 341 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 and 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 13). The following table presents the previously transferred equipment installment receivables, which we repurchased in exchange for the associated deferred purchase price: 2021 2020 2019 Fair value of repurchased receivables $ 1,424 $ 1,271 $ 1,418 Carrying value of deferred purchase price 1,334 1,235 1,350 Gain on repurchases 1 $ 90 $ 36 $ 68 1 These gains are included in “Selling, general and administrative” in the consolidated statements of income. At December 31, 2021 and December 31, 2020, our deferred purchase price receivable was $3,177 and $1,991, respectively, of which $2,123 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 December 31, 2021 and December 31, 2020 was $371 and $228, respectively, of which $101 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 $6,680 of certain receivables (primarily from WarnerMedia) 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 or reduced 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 $3,527 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 13). The following table sets forth a summary of receivables sold: 2021 2020 2019 Gross receivables sold/cash proceeds received 1 $ 20,060 $ 15,888 $ 11,989 Total collections under revolving agreement 2 18,910 14,888 7,689 Receivables repurchased 170 — — Net cash proceeds received $ 980 $ 1,000 $ 4,300 Net receivables sold 3 $ 19,775 $ 15,760 $ 11,604 Obligations recorded 18 271 530 1 Includes initial sale of receivables of $1,380, $1,000 and $4,300 for 2021, 2020 and 2019, respectively. 2 Includes collections of $400, $0 and $0 for 2021, 2020 and 2019, respectively, that were not reinvested under the revolving agreement. 3 Receivables net of allowance, return and incentive reserves and imputed interest. |
Tower Transaction
Tower Transaction | 12 Months Ended |
Dec. 31, 2021 | |
Other Liabilities [Abstract] | |
Tower Transaction | NOTE 19. TOWER TRANSACTION In December 2013, we closed our transaction with Crown Castle International Corp. (Crown Castle) in which Crown Castle gained the exclusive rights to lease and operate 9,048 wireless towers and purchased 627 of our wireless towers for $4,827 in cash. The leases have various terms with an average length of approximately 28 years. As the leases expire, Crown Castle will have fixed price purchase options for these towers totaling approximately $4,200, based on their estimated fair market values at the end of the lease terms. We sublease space on the towers from Crown Castle for an initial term of ten years at current market rates, subject to optional renewals in the future. We determined that we did not transfer control of the tower assets, which prevented us from achieving sale-leaseback accounting for the transaction, and we accounted for the cash proceeds from Crown Castle as a financing obligation on our consolidated balance sheets. We record interest on the financing obligation using the effective interest method at a rate of approximately 3.9%. The financing obligation is increased by interest expense and estimated future net cash flows generated and retained by Crown Castle from operation of the tower sites, and reduced by our contractual payments. We continue to include the tower assets in “Property, Plant and Equipment – Net” on our consolidated balance sheets and depreciate them accordingly. At December 31, 2021 and 2020, the tower assets had a balance of $725 and $764, respectively. Our depreciation expense for these assets was $39 for each of 2021, 2020 and 2019. Payments made to Crown Castle under this arrangement were $253 for 2021. At December 31, 2021, the future minimum payments under the sublease arrangement are $258 for 2022, $264 for 2023, $269 for 2024, $274 for 2025, $280 for 2026 and $707 thereafter. |
Transactions With DIRECTV Discl
Transactions With DIRECTV Disclosures | 12 Months Ended |
Dec. 31, 2021 | |
Related Party Transactions [Abstract] | |
Investments In And Transactions With DIRECTV Disclosure [Text Block] | NOTE 20. TRANSACTIONS WITH DIRECTV On July 31, 2021, we closed our transaction with TPG to form a new company named DIRECTV (see Note 6). The transaction resulted in our deconsolidation of the Video business. Effective August 1, 2021, we began accounting for our investment in DIRECTV under the equity method and recorded our share of DIRECTV earnings as equity in net income of affiliates, with DIRECTV considered a related party (see Note 10). For the five months ended December 31, 2021, our share of DIRECTV’s earnings included in equity in net income of affiliates was $619. Cash distributions from DIRECTV totaled $1,942, with $619 classified as operating activities and $1,323 classified as investing activities in our consolidated statement of cash flows. In addition to the assets and liabilities contributed to DIRECTV, we recorded total obligations of approximately $2,100 to cover certain net losses under the NFL SUNDAY TICKET contract, of which $1,800 is in the form of a note payable to DIRECTV (see Note 6). Cash payments to DIRECTV on the note totaled $459 and were classified as financing activities in our consolidated statement of cash flows. Amounts due under the DIRECTV note were $1,341 at December 31, 2021. Through our WarnerMedia properties, we license content and programming and provide advertising services to DIRECTV. Revenue recognized from DIRECTV, which was previously eliminated, totaled approximately $670 for the five months ended December 31, 2021. We also provide DIRECTV with network transport for U-verse products and sales services under commercial arrangements for up to five years. Pursuant to a commercial agreement, WarnerMedia continues to sell DIRECTV’s advertising inventory under a revenue sharing agreement. WarnerMedia records amounts billed as advertising revenue and recognizes expense for DIRECTV’s revenue share, which was approximately $600 for the five months ended December 31, 2021. Under separate transition services agreements, we provide DIRECTV certain operational support, including servicing of certain of their customer receivables for up to three years. For the five months ended December 31, 2021, we billed DIRECTV approximately $550 for these costs, which were primarily recorded as a reduction to the operations and support expenses incurred and resulted in net retained costs to AT&T of approximately $200. At December 31, 2021, we had accounts receivable from DIRECTV of $436 and accounts payable to DIRECTV of $329. We are not committed, implicitly or explicitly, to provide financial or other support, other than noted above, as our involvement with DIRECTV is limited to the carrying amount of the assets and liabilities recognized on our balance sheet. |
FirstNet
FirstNet | 12 Months Ended |
Dec. 31, 2021 | |
Contractors [Abstract] | |
FirstNet | NOTE 21. FIRSTNET In 2017, the First Responder Network Authority (FirstNet) selected AT&T to build and manage the first nationwide broadband network dedicated to America’s first responders. Under the 25-year agreement, FirstNet provides 20 MHz of valuable telecommunications spectrum and success-based payments of $6,500 over the first five years to support network buildout. We are required to construct a network that achieves coverage and nationwide interoperability requirements and have a contractual commitment to make sustainability payments of $18,000 over the 25-year contract. These sustainability payments represent our commitment to fund FirstNet’s operating expenses and future reinvestments in the network which we own and operate, which we estimate in the $3,000 or less range over the life of the 25-year contract. After FirstNet’s operating expenses are paid, we anticipate the remaining amount, expected to be in the $15,000 range, will be reinvested into the network. During 2021, we submitted $120 in sustainability payments, with future payments under the agreement of $195 for 2022, 2023, 2024 and 2025; $1,590 for 2026; and $15,030 thereafter. Amounts paid to FirstNet, which are not expected to be returned to AT&T to be reinvested into our network, will be expensed in the period paid. In the event FirstNet does not reinvest any funds to construct, operate, improve and maintain this network, our maximum exposure to loss is the total amount of the sustainability payments, which would be reflected in higher expense. The $6,500 of initial funding from FirstNet is contingent on the achievement of six operating capability milestones and certain first responder subscriber adoption targets. These milestones are based on coverage objectives of the first responder network during the construction period, which is expected to be over five years, and subscriber adoption targets. Funding payments received from FirstNet are reflected as a reduction from the costs capitalized in the construction of the network and, as appropriate, a reduction of associated operating expenses. As of December 31, 2021, we have collected approximately $5,860 for the completion of certain tasks and anticipate collecting the remainder of the $6,500 as we achieve milestones set out by FirstNet in 2022. We also received approximately $170 in 2021 from FirstNet for reinvestment above the original success-based payments. |
Contingent Liabilities
Contingent Liabilities | 12 Months Ended |
Dec. 31, 2021 | |
Commitments and Contingencies Disclosure [Abstract] | |
Contingent Liabilities | NOTE 22. CONTINGENT LIABILITIES We are party to numerous lawsuits, regulatory proceedings and other matters arising in the ordinary course of business. In evaluating these matters on an ongoing basis, we take into account amounts already accrued on the balance sheet. In our opinion, although the outcomes of these proceedings are uncertain, they should not have a material adverse effect on our financial position, results of operations or cash flows. We have contractual obligations to purchase certain goods or services from various other parties. Our purchase obligations are expected to be approximately $28,860 in 2022, $24,585 in total for 2023 and 2024, $11,636 in total for 2025 and 2026 and $12,540 in total for years thereafter. See Note 13 for a discussion of collateral and credit-risk contingencies. |
Additional Financial Informatio
Additional Financial Information | 12 Months Ended |
Dec. 31, 2021 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Additional Financial Information | NOTE 23. ADDITIONAL FINANCIAL INFORMATION December 31, Consolidated Balance Sheets 2021 2020 Accounts payable and accrued liabilities: Accounts payable $ 30,756 $ 31,836 Accrued payroll and commissions 3,449 2,988 Current portion of employee benefit obligation 1,278 1,415 Accrued participations and residuals 2,966 2,708 Accrued interest 2,463 2,454 Accrued taxes 1,402 1,019 Other 8,347 7,631 Total accounts payable and accrued liabilities $ 50,661 $ 50,051 Consolidated Statements of Income 2021 2020 2019 Advertising expense $ 6,316 $ 5,253 $ 6,121 Interest expense incurred $ 7,838 $ 8,048 $ 8,622 Capitalized interest – capital expenditures (173) (123) (200) Capitalized interest – spectrum 1 (781) — — Total interest expense $ 6,884 $ 7,925 $ 8,422 1 Included in “Acquisitions, net of cash acquired” on our consolidated statement of cash flows. 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 on our consolidated balance sheets: December 31, Cash and Cash Equivalents and Restricted Cash 2021 2020 2019 2018 Cash and cash equivalents $ 21,169 $ 9,740 $ 12,130 $ 5,204 Restricted cash in Other current assets 3 9 69 61 Restricted cash in Other Assets 144 121 96 135 Cash and cash equivalents and restricted cash $ 21,316 $ 9,870 $ 12,295 $ 5,400 The following table summarizes cash paid during the periods for interest income taxes and spectrum: Consolidated Statements of Cash Flows 2021 2020 2019 Cash paid (received) during the year for: Interest $ 7,673 $ 8,237 $ 8,693 Income taxes, net of refunds 700 993 1,421 Spectrum acquisitions 1 24,672 1,613 1,576 1 Included as cash paid for “Acquisitions, net of cash acquired” on our consolidated statement of cash flows. Excludes interest during construction. 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. We recorded $5,282 of vendor financing commitments related to capital investments in 2021, $4,664 in 2020 and $2,632 in 2019. Total vendor financing payables included in our December 31, 2021 consolidated balance sheet were approximately $5,000, with $3,950 due within one year (in “Accounts payable and accrued liabilities”) and the remainder predominantly due within five years (in “Other noncurrent liabilities”). Labor Contracts As of January 31, 2022, we employed approximately 203,000 persons. Approximately 37% of our employees are represented by the Communications Workers of America (CWA), the International Brotherhood of Electrical Workers (IBEW) or other unions. After expiration of the agreements, work stoppages or labor disruptions may occur in the absence of new contracts or other agreements being reached. The main contracts included the following: • A contract covering approximately 12,000 Mobility employees in 36 states and the District of Columbia is set to expire in February 2022. • A contract covering approximately 6,000 wireline employees in five Midwest states that was set to expire in April 2022 was extended for a four-year period until April 2026. • A contract covering approximately 3,000 MW IBEW employees is set to expire in June 2022. • A contract covering approximately 2,000 AT&T Corp. employees nationwide that was set to expire in April 2022 was extended for a four-year period until April 2026. • A contract covering approximately 170 Teamsters Alascom employees in Alaska is set to expire in February 2022. |
Schedule II - Valuation And Qua
Schedule II - Valuation And Qualifying Accounts | 12 Months Ended |
Dec. 31, 2021 | |
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract] | |
Schedule II - Valuation And Qualifying Accounts | SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS Allowance for Credit Losses COL. A COL. B COL. C COL. D COL. E Additions (1) (2) (3) Balance at Beginning of Period Charged to Charged to Other Acquisitions Deductions (c) Balance at End Year 2021 $ 1,589 $ 1,240 $ — $ — $ 1,693 $ 1,136 Year 2020 $ 1,235 $ 1,972 $ 405 $ — $ 2,023 $ 1,589 Year 2019 $ 907 $ 2,575 $ — $ — $ 2,247 $ 1,235 (a) Includes amounts previously written off which were credited directly to this account when recovered. Excludes direct charges and credits to expense for nontrade receivables in the consolidated statements of income. Includes the impact to operating expenses, for the year ended December 31, 2020, after adoption of ASC 326. (b) Opening adjustments upon adoption of ASC 326, with modified retrospective application, as of January 1, 2020 (see Note 1). (c) Amounts written off as uncollectible, or related to divested entities. (d) Includes balances applicable to trade receivables, loans, contract assets and other assets subject to credit loss measurement (see Note 1). SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS Allowance for Deferred Tax Assets COL. A COL. B COL. C COL. D COL. E Additions (1) (2) (3) Balance at Beginning of Period Charged to Charged to Other Acquisitions Deductions Balance at End Year 2021 $ 4,773 (135) — — — $ 4,638 Year 2020 $ 4,941 (168) — — — $ 4,773 Year 2019 $ 4,588 (18) 371 — — $ 4,941 (a) Includes current year reclassifications from other balance sheet accounts. |
Summary Of Significant Accoun_2
Summary Of Significant Accounting Policies (Policy) | 12 Months Ended |
Dec. 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 in our results on a one quarter lag. We also record our proportionate share of our equity method investees’ other comprehensive income (OCI) items, including translation adjustments. We treat distributions received from equity method investees as returns on investment and classify them as cash flows from operating activities until those distributions exceed our cumulative equity in the earnings of that investment. We treat the excess amount as a return of investment and classify it as cash flows from investing activities. |
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, including other estimates of probable losses and expenses, 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. |
Credit Losses | Credit Losses As of January 1, 2020, we adopted, through modified retrospective application, the Financial Accounting Standards Board’s (FASB) Accounting Standards Update (ASU) No. 2016-13, “Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments,” or Accounting Standards Codification (ASC) 326 (ASC 326), which replaces the incurred loss impairment methodology under prior GAAP with an expected credit loss model. ASC 326 affects trade receivables, loans, contract assets, certain beneficial interests, off-balance-sheet credit exposures not accounted for as insurance and other financial assets that are not subject to fair value through net income, as defined by the standard. Under the expected credit loss model, we are required to consider future economic trends to estimate expected credit losses over the lifetime of the asset. Upon adoption on January 1, 2020, we recorded a $293 reduction to “Retained earnings,” $395 increase to “Allowances for credit losses” applicable to our trade and loan receivables, $10 reduction of contract assets, $105 reduction of net deferred income tax liability and $7 reduction of “Noncontrolling interest.” Our adoption of ASC 326 did not have a material impact on our financial statements. |
Leases | Leases As of January 1, 2019, we adopted, with modified retrospective application, the FASB's ASU No. 2016-02, “Leases (Topic 842)” (ASC 842), which replaces existing leasing rules with a comprehensive lease measurement and recognition standard and expanded disclosure requirements (see Note 8). ASC 842 requires lessees to recognize most leases on their balance sheets as liabilities, with corresponding “right-of-use” assets. For income statement recognition purposes, leases are classified as either a finance or an operating lease without relying upon bright-line tests. The key change upon adoption of the standard was balance sheet recognition of operating leases, given that the recognition of lease expense on our income statement is similar to our historical accounting. Using the modified retrospective transition method of adoption, we did not adjust the balance sheet for comparative periods but recorded a cumulative effect adjustment to retained earnings on January 1, 2019. We elected the package of practical expedients permitted under the transition guidance within the new standard, which, among other things, allowed us to carry forward our historical lease classification. We also elected the practical expedient related to land easements, allowing us to carry forward our accounting treatment for land easements on existing agreements that were not accounted for as leases. We excluded leases with original terms of one year or less. Additionally, we elected to not separate lease and non-lease components for certain classes of assets. Our accounting for finance leases did not change from our prior accounting for capital leases. |
Income Taxes | Income Taxes We record deferred income taxes for temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the computed tax basis of those assets and liabilities. We record valuation allowances against the deferred tax assets (included, together with our deferred income tax assets, as part of our reportable net deferred income tax liabilities on our consolidated balance sheets), for which the realization is uncertain. We review these items regularly in light of changes in federal and state tax laws and changes in our business. As of January 1, 2021, we adopted, with modified retrospective application, the FASB’s ASU No. 2019-12, “Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes” (ASU 2019-12), which is expected to simplify income tax accounting requirements in areas deemed costly and complex. ASU 2019-12 did not have a material impact on our financial statements. |
Cash And Cash Equivalents | Cash and Cash Equivalents Cash and cash equivalents include all highly liquid investments with original maturities of three months or less. The carrying amounts approximate fair value. At December 31, 2021, we held $5,204 in cash and $15,965 in money market funds and other cash equivalents. Of our total cash and cash equivalents, $2,706 resided in foreign jurisdictions, some of which is subject to restrictions on repatriation. |
Allowance for Credit Losses | Allowance for Credit Losses We record expense to maintain an allowance for credit losses for estimated losses that result from the failure or inability of our customers to make required payments deemed collectible from the customer when the service was provided or product was delivered. When determining the allowances for trade receivables and loans, we consider the probability of recoverability of accounts receivable based on past experience, taking into account current collection trends and general economic factors, including bankruptcy rates. We also consider future economic trends to estimate expected credit losses over the lifetime of the asset. Credit risks are assessed based on historical write-offs, net of recoveries, as well as an analysis of the aged accounts receivable balances with allowances generally increasing as the receivable ages. Accounts receivable may be fully reserved for when specific collection issues are known to exist, such as catastrophes or pending bankruptcies. |
Deferral of Episodic Television and Film Costs, Equipment Inventory, and Licensed Programming Inventory Cost Recognition and Impairment | Inventories Inventories primarily consist of wireless devices and accessories and are valued at the lower of cost or net realizable value. Licensed Programming Inventory Cost Recognition and Impairment We enter into agreements to license programming exhibition rights from licensors. A programming inventory asset related to these rights and a corresponding liability payable to the licensor are recorded (on a discounted basis if the license agreements are long-term) when (i) the cost of the programming is reasonably determined, (ii) the programming material has been accepted in accordance with the terms of the agreement, (iii) the programming is available for its first showing or telecast, and (iv) the license period has commenced. There are variations in the amortization methods of these rights, depending on whether the network is advertising-supported (e.g., TNT and TBS) or not advertising-supported (e.g., HBO and Turner Classic Movies). For the advertising-supported networks, our general policy is to amortize each program’s costs on a straight-line basis (or per-play basis, if greater) over its license period. In circumstances where the initial airing of the program has more value than subsequent airings, an accelerated method of amortization is used. The accelerated amortization upon the first airing versus subsequent airings is determined based on a study of historical and estimated future advertising sales for similar programming. For rights fees paid for sports programming arrangements, such rights fees are amortized using a revenue-forecast model, in which the rights fees are amortized using the ratio of current period advertising revenue to total estimated remaining advertising revenue over the term of the arrangement. For premium pay television, streaming and over-the-top (OTT) services that are not advertising-supported, each licensed program’s costs are amortized on a straight-line basis over its license period or estimated period of use, beginning with the month of initial exhibition. When we have the right to exhibit feature theatrical programming in multiple windows over a number of years, historical audience viewership is used as the basis for determining the amount of programming amortization attributable to each window. Licensed programming inventory is carried at the lower of unamortized cost or fair value. For networks that generate both advertising and subscription revenues, the net realizable value of unamortized programming costs is generally evaluated based on the network’s programming taken as a whole. In assessing whether the programming inventory for a particular advertising-supported network is impaired, the net realizable value for all of the network’s programming inventory is determined based on a projection of the network’s profitability. This assessment would occur upon the occurrence of certain triggering events. Similarly, for premium pay television, streaming and OTT services that are not advertising-supported, an evaluation of the fair value of unamortized programming costs is performed based on services’ licensed programming taken as a whole. Specifically, the fair value for all premium pay television, streaming and OTT service licensed programming is determined based on projections of estimated subscription revenues less certain costs of delivering and distributing the licensed programming. Changes in management’s intended usage of a specific program, such as a decision to no longer exhibit that program and forgo the use of the rights associated with the program license, results in a reassessment of that program’s fair value, which could result in an impairment (see Note 11). Film and Television Production Cost Recognition, Participations and Residuals and Impairments Film and television production costs on our consolidated balance sheets include the unamortized cost of completed theatrical films and television episodes, theatrical films and television series in production and undeveloped film and television rights. Film and television production costs are stated at the lower of cost, less accumulated amortization, or fair value. For films and television programs predominantly monetized individually, the amount of capitalized film and television production costs and the amount of participations and residuals to be recognized as broadcast, programming and operations expenses for a given film or television series in a particular period are determined using the film forecast computation method. Under this method, the amortization of capitalized costs and the accrual of participations and residuals are based on the proportion of the film’s (or television program’s) revenues recognized for such period to the film’s (or television program’s) estimated remaining ultimate revenues (i.e., the total revenue to be received throughout a film’s (or television program’s) life cycle). The process of estimating a film’s ultimate revenues requires us to make a series of judgments related to future revenue-generating activities associated with a particular film. We estimate the ultimate revenues, less additional costs to be incurred (including exploitation and participation costs), in order to determine whether the value of a film or television series is impaired and requires an immediate write-off of unrecoverable film and television production costs. To the extent that the ultimate revenues are adjusted, the resulting gross margin reported on the exploitation of that film or television series in a period is also adjusted. (See Note 11) Prior to the theatrical release of a film, our estimates are based on factors such as the historical performance of similar films, the star power of the lead actors, the rating and genre of the film, pre-release market research (including test market screenings), international distribution plans and the expected number of theaters in which the film will be released. In the absence of revenues directly related to the exhibition of owned film or television programs on our television networks, premium pay television, streaming or OTT services, we estimate a portion of the unamortized costs that are representative of the utilization of that film or television program in that exhibition and expense such costs as the film or television program is exhibited. The period over which ultimate revenues are estimated generally does not exceed ten years from the initial release of a motion picture or from the date of delivery of the first episode of an episodic television series. Estimates were updated based on information available during the film’s production and, upon release, the actual results of each film. For a film (or television program) predominantly monetized as part of a film (or television program) group, the amount of capitalized film and television production costs is amortized using a reasonably reliable estimate of the portion of unamortized film costs that is representative of the use of the film. Production costs are expensed as the film (or television program) is exhibited or exploited. |
Property, Plant and Equipment | Property, Plant and Equipment Property, plant and equipment is stated at cost, except for assets acquired using acquisition accounting, which are initially recorded at fair value (see Note 7). The cost of additions and substantial improvements to property, plant and equipment is capitalized, and includes internal compensation costs for these projects. The cost of maintenance and repairs of property, plant and equipment is charged to operating expenses. Property, plant and equipment costs are depreciated using straight-line methods over their estimated economic lives. Certain subsidiaries follow composite group depreciation methodology. Accordingly, when a portion of their depreciable property, plant and equipment is retired in the ordinary course of business, the gross book value is reclassified to accumulated depreciation, and no gain or loss is recognized on the disposition of these assets. Property, plant and equipment is reviewed for recoverability whenever events or changes in circumstances indicate that the carrying amount of an asset group may not be recoverable. We recognize an impairment loss when the carrying amount of a long-lived asset is not recoverable. The carrying amount of a long-lived asset is not recoverable if it exceeds the sum of the undiscounted cash flows expected to result from the use and eventual disposition of the asset. (See Note 7) The liability for the fair value of an asset retirement obligation is recorded in the period in which it is incurred if a reasonable estimate of fair value can be made. In periods subsequent to initial measurement, we recognize period-to-period changes in the liability resulting from the passage of time and revisions to either the timing or the amount of the original estimate. The increase in the carrying value of the associated long-lived asset is depreciated over the corresponding estimated economic life. |
Software Costs | Software Costs We capitalize certain costs incurred in connection with developing or obtaining internal-use software. Capitalized software costs are included in “Property, Plant and Equipment – Net” on our consolidated balance sheets. In addition, there is certain network software that allows the equipment to provide the features and functions unique to the AT&T network, which we include in the cost of the equipment categories for financial reporting purposes. We amortize our capitalized software costs over a three-year to seven-year period, reflecting the estimated period during which these assets will remain in service. |
Goodwill and Other Intangible Assets | Goodwill and Other Intangible Assets We have the following major classes of intangible assets: goodwill; licenses, which include Federal Communications Commission (FCC) and other wireless licenses; distribution networks; film and television libraries; intellectual properties and franchises; trademarks and trade names; customer lists; and various other finite-lived intangible assets (see Note 9). Goodwill represents the excess of consideration paid over the fair value of identifiable net assets acquired in business combinations. Wireless licenses provide us with the exclusive right to utilize certain radio frequency spectrum to provide wireless communications services. While wireless licenses are issued for a fixed period of time (generally ten years), renewals of domestic wireless licenses have occurred routinely and at nominal cost. We have determined that there are currently no legal, regulatory, contractual, competitive, economic or other factors that limit the useful lives of our FCC wireless licenses. We amortize our wireless licenses in Mexico over their average remaining economic life of 25 years. We acquired the rights to the AT&T and other trade names in previous acquisitions, classifying certain of those trade names as indefinite-lived. We have the effective ability to retain these exclusive rights permanently at a nominal cost. Goodwill, FCC wireless licenses and other indefinite-lived intangible assets are not amortized but are tested at least annually for impairment. The testing is performed on the value as of October 1 each year, and compares the book values of the assets to their fair values. Goodwill is tested by comparing the carrying amount of each reporting unit, deemed to be our principal operating segments or one level below them, to the fair value using both discounted cash flow as well as market multiple approaches. FCC wireless licenses are tested on an aggregate basis, consistent with our use of the licenses on a national scope, using a discounted cash flow approach. Prior to 2020, orbital slots were similarly aggregated for purposes of impairment testing and valued using a discounted cash flow approach. Trade names are tested by comparing their book values to their fair values calculated using a discounted cash flow approach on a presumed royalty rate derived from the revenues related to each brand name. Intangible assets that have finite useful lives are amortized over their estimated useful lives (see Note 9). As of January 1, 2020, on a prospective basis, orbital slots were amortized using the sum-of-the-months-digits method of amortization over their average remaining economic life (ceased in 2021 in conjunction with the transfer of the orbital slots as part of the DIRECTV transaction). Customer lists and relationships are amortized using primarily the sum-of-the-months-digits method of amortization over the period in which those relationships are expected to contribute to our future cash flows. Finite-lived trademarks and trade names and distribution networks are amortized using the straight-line method over the estimated useful life of the assets. Film library is amortized using the film forecast computation method, as previously disclosed. The remaining finite-lived intangible assets are generally amortized using the straight-line method. These assets, along with other long-lived assets, are reviewed for recoverability whenever events or changes in circumstances indicate that the carrying amount of an asset group may not be recoverable (see Note 6). |
Advertising Costs | Advertising Costs We expense advertising costs for products and services or for promoting our corporate image as incurred (see Note 23). |
Foreign Currency Translation | Foreign Currency Translation Our foreign subsidiaries and foreign investments generally report their earnings in their local currencies. We translate their foreign assets and liabilities at exchange rates in effect at the balance sheet dates. We translate their revenues and expenses using average rates during the year. The resulting foreign currency translation adjustments are recorded as a separate component of accumulated OCI in our consolidated balance sheets (see Note 3). Operations in countries with highly inflationary economies use the U.S. dollar as the functional currency. We hedge a portion of the foreign currency exchange risk involved in certain foreign currency-denominated transactions, which we explain further in our discussion of our methods of managing our foreign currency risk (see Note 13). |
Pension And Other Postretirement Benefits | Pension and Other Postretirement Benefits See Note 15 for a comprehensive discussion of our pension and postretirement benefits, including a discussion of the actuarial assumptions, our policy for recognizing the associated gains and losses and our method used to estimate service and interest cost components. |
New Accounting Standards | New Accounting Standards Reference Rate Reform In March 2020, the FASB issued ASU No. 2020-04, “Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting” (ASU 2020-04, as amended), which provides optional expedients, and allows for certain exceptions to existing GAAP, for contract modifications triggered by the expected market transition of certain benchmark interest rates to alternative reference rates. ASU 2020-04 applies to contracts, hedging relationships, certain derivatives and other arrangements that reference the London Interbank Offering Rate (LIBOR) or any other rates ending after December 31, 2022. ASU 2020-04, as amended, became effective immediately. We do not believe our adoption of ASU 2020-04, including optional expedients, will materially impact our financial statements. Convertible Instruments Beginning with 2022 interim reporting, we will adopt ASU No. 2020-06, “Debt—Debt With Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity” (ASU 2020-06). ASU 2020-06 eliminated certain separation models regarding cash conversion and beneficial conversion features to simplify reporting for convertible instruments as a single liability or equity, with no separate accounting for embedded conversion features. Additionally, ASU 2020-06 requires that instruments which may be settled in cash or stock are presumed settled in stock in calculating diluted earnings per share. While our intent is to settle the Mobility II preferred interests in cash (see Note 17), settlement of this instrument in AT&T shares will result in additional dilutive impact, the magnitude of which is influenced by the fair value of the Mobility II preferred interests and the average AT&T common stock price during the reporting period, which could vary from period-to-period. We are currently evaluating our adoption method and the impact on our financial statements, as our recent decision (February 2022) on methodology of distribution to AT&T’s shareholders (i.e., pro rata dividend) for the pending WarnerMedia transaction could affect the impact of ASU 2020-06 on our financial statements (see Note 6). Government Assistance In November 2021, the FASB issued ASU No. 2021-10, “Government Assistance (Topic 832): Disclosures by Business Entities about Government Assistance” (ASU 2021-10), which requires annual disclosures, in the notes to the financial statements, about transactions with a government that are accounted for by applying a grant or contribution accounting model by analogy to other guidance. The annual disclosures include terms and conditions, accounting treatment and impacted financial statement lines reflecting the impact of the transactions. ASU 2021-10 will be effective for annual reporting periods beginning after December 15, 2021, under prospective or retrospective application for all in scope government transactions in the financial statements as of our adoption date or thereafter. We are evaluating the disclosure impacts of our adoption of ASU 2021-10. |
Revenue Recognition | We report our revenues net of sales taxes and record certain regulatory fees, primarily Universal Service Fund (USF) fees, on a net basis. No customer accounted for more than 10% of consolidated revenues in 2021, 2020 or 2019. Wireless, Advanced Data, Legacy Voice & Data Services and Equipment Revenue We offer service-only contracts and contracts that bundle equipment used to access the services and/or with other service offerings. Some contracts have fixed terms and others are cancellable on a short-term basis (i.e., month-to-month arrangements). Examples of service revenues include wireless, strategic services (e.g., virtual private network service), and legacy voice and data (e.g., traditional local and long-distance). These services represent a series of distinct services that is considered a separate performance obligation. Service revenue is recognized when services are provided, based upon either usage (e.g., minutes of traffic/bytes of data processed) or period of time (e.g., monthly service fees). Some of our services require customer premises equipment that, when combined and integrated with AT&T’s specific network infrastructure, facilitates the delivery of service to the customer. In evaluating whether the equipment is a separate performance obligation, we consider the customer’s ability to benefit from the equipment on its own or together with other readily available resources and if so, whether the service and equipment are separately identifiable (i.e., is the service highly dependent on, or highly interrelated with the equipment). When the equipment does not meet the criteria to be a separate performance obligation (e.g., equipment associated with certain video services), we allocate the total transaction price to the related service. When equipment is a separate performance obligation, we record the sale of equipment when title has passed and the products are accepted by the customer. For devices sold through indirect channels (e.g., national dealers), revenue is recognized when the dealer accepts the device, not upon activation. Our equipment and service revenues are predominantly recognized on a gross basis, as most of our services do not involve a third party and we typically control the equipment that is sold to our customers. Revenue recognized from fixed term contracts that bundle services and/or equipment is allocated based on the stand-alone selling price of all required performance obligations of the contract (i.e., each item included in the bundle). Promotional discounts are attributed to each required component of the arrangement, resulting in recognition over the contract term. Stand-alone selling prices are determined by assessing prices paid for service-only contracts (e.g., arrangements where customers bring their own devices) and stand-alone device pricing. We offer the majority of our customers the option to purchase certain wireless devices in installments over a specified period of time, and, in many cases, they may be eligible to trade in the original equipment for a new device and have the remaining unpaid balance paid or settled. For customers that elect these equipment installment payment programs, at the point of sale, we recognize revenue for the entire amount of revenue allocated to the customer receivable net of fair value of the trade-in right guarantee. The difference between the revenue recognized and the consideration received is recorded as a note receivable when the devices are not discounted and our right to consideration is unconditional. When installment sales include promotional discounts (e.g., “buy one get one free” or equipment discounts with trade-in of a device), the difference between revenue recognized and consideration received is recorded as a contract asset to be amortized over the contract term. Less commonly, we offer certain customers highly discounted devices when they enter into a minimum service agreement term. For these contracts, we recognize equipment revenue at the point of sale based on a stand-alone selling price allocation. The difference between the revenue recognized and the cash received is recorded as a contract asset that will amortize over the contract term. Our contracts allow for customers to frequently modify their arrangement, without incurring penalties in many cases. When a contract is modified, we evaluate the change in scope or price of the contract to determine if the modification should be treated as a new contract or if it should be considered a change of the existing contract. We generally do not have significant impacts from contract modifications. Revenues from transactions between us and our customers are recorded net of revenue-based regulatory fees and taxes. Cash incentives given to customers are recorded as a reduction of revenue. Nonrefundable, upfront service activation and setup fees associated with service arrangements are deferred and recognized over the associated service contract period or customer relationship life. Subscription Revenue Subscription revenues from cable networks and premium pay and basic-tier television services are recognized over the license period as programming is provided to affiliates or digital distributors based on negotiated contractual programming rates. When a distribution contract with an affiliate has expired and a new distribution contract has not been executed, revenues are based on estimated rates, giving consideration to factors including the previous contractual rates, inflation, current payments by the affiliate and the status of the negotiations on a new contract. When the new distribution contract terms are finalized, an adjustment to revenue is recorded, if necessary, to reflect the new terms. Subscription revenues from end-user subscribers are recognized when services are provided, based upon either usage or period of time. Subscription revenues from streaming services are recognized as programming services are provided to customers. Content Revenue Feature films typically are produced or acquired for initial exhibition in theaters, followed by distribution, generally commencing within three years of such initial exhibition. Revenues from film rentals by theaters are recognized as the films are exhibited. Television programs and series are initially produced for broadcast and may be subsequently licensed or sold in physical format and/or electronic delivery. Revenues from the distribution of television programming through broadcast networks, cable networks, first-run syndication and streaming services are recognized when the programs or series are available to the licensee. In certain circumstances, pursuant to the terms of the applicable contractual arrangements, the availability dates granted to customers may precede the date in which the customer can be billed for these sales. Revenues from sales of feature films and television programming in physical format are recognized at the later of the delivery date or the date when made widely available for sale or rental by retailers based on gross sales less a provision for estimated returns, rebates and pricing allowances. Revenues from the licensing of television programs and series for electronic sell-through or video-on-demand are recognized when the product has been purchased by and made available to the consumer to either download or stream. Upfront or guaranteed payments for the licensing of intellectual property are recognized as revenue at either the inception of the license term if the intellectual property has significant standalone functionality or over the corresponding license term if the licensee’s ability to derive utility is dependent on our continued support of the intellectual property throughout the license term. Revenues from the sales of console games are recognized at the later of the delivery date or the date that the product is made widely available for sale or rental by retailers based on gross sales less a provision for estimated returns, rebates and pricing allowances. Advertising Revenue Advertising revenues are recognized, net of agency commissions, in the period that the advertisements are aired. If there is a targeted audience guarantee, revenues are recognized for the actual audience delivery and revenues are deferred for any shortfall until the guaranteed audience delivery is met, typically by providing additional advertisements. Advertising revenues from digital properties are recognized as impressions are delivered or the services are performed. |
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. |
Recognition of Actuarial Gains and Losses | We recognize gains and losses on pension and postretirement plan assets and obligations immediately in “Other income (expense) – net” in our consolidated statements of income. These gains and losses are generally measured annually as of December 31 and accordingly, will normally be recorded during the fourth quarter, unless an earlier remeasurement is required. |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Earnings Per Share [Abstract] | |
Reconciliation of Numerators and Denominators of Basic and Diluted Earnings Per Share | NOTE 2. EARNINGS PER SHARE A reconciliation of the numerators and denominators of basic and diluted earnings per share is shown in the table below: Year Ended December 31, 2021 2020 2019 Numerators Numerator for basic earnings per share: Net Income (Loss) Attributable to Common Stock $ 19,874 $ (5,369) $ 13,900 Dilutive potential common shares: Share-based payment 1 22 23 21 Numerator for diluted earnings per share $ 19,896 $ (5,346) $ 13,921 Denominators (000,000) Denominator for basic earnings per share: Weighted average number of common shares outstanding 7,168 7,157 7,319 Dilutive potential common shares: Share-based payment (in shares) 1 31 26 29 Denominator for diluted earnings per share 7,199 7,183 7,348 1 For 2020, dilutive potential common shares are not included in the computation of diluted earnings per share because their effect is antidilutive as a result of the net loss. |
Other Comprehensive Income (Tab
Other Comprehensive Income (Tables) | 12 Months Ended |
Dec. 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 Net Unrealized Net Unrealized Defined Benefit Accumulated Other Balance as of December 31, 2018 $ (3,084) $ (2) $ 818 $ 6,517 $ 4,249 Other comprehensive income (loss) before reclassifications 28 50 (900) 3,457 2,635 Amounts reclassified from accumulated OCI — 1 — 1 45 2 (1,459) 3 (1,414) Net other comprehensive income (loss) 28 50 (855) 1,998 1,221 Balance as of December 31, 2019 (3,056) 48 (37) 8,515 5,470 Other comprehensive income (loss) before reclassifications (870) 78 (811) 2,250 647 Amounts reclassified from accumulated OCI — 1 (15) 1 69 2 (1,841) 3 (1,787) Net other comprehensive income (loss) (870) 63 (742) 409 (1,140) Balance as of December 31, 2020 (3,926) 111 (779) 8,924 4,330 Other comprehensive income (loss) before reclassifications (125) (63) (715) (34) (937) Amounts reclassified from accumulated OCI 2,087 1,4 (3) 1 72 2 (2,020) 3 136 Net other comprehensive income (loss) 1,962 (66) (643) (2,054) (801) Balance as of December 31, 2021 $ (1,964) $ 45 $ (1,422) $ 6,870 $ 3,529 1 (Gains) losses are included in “Other income (expense) – net” in the consolidated statements of income. 2 (Gains) losses are included in “Interest expense” in the consolidated statements of income (see Note 13). 3 The amortization of prior service credits associated with postretirement benefits is included in “Other income (expense) – net” in the consolidated statements of income (see Note 15). 4 Represents unrealized foreign currency translation adjustments at Vrio that were released upon sale. (See Note 6) |
Segment Information (Tables)
Segment Information (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Segment Reporting [Abstract] | |
Reconciliation of Revenues to Segment Contribution | For the year ended December 31, 2021 Revenues Operations EBITDA Depreciation and Amortization Operating Equity in Net Operating Communications Mobility $ 78,254 $ 46,820 $ 31,434 $ 8,122 $ 23,312 $ — $ 23,312 Business Wireline 23,937 14,755 9,182 5,192 3,990 — 3,990 Consumer Wireline 12,539 8,467 4,072 3,095 977 — 977 Total Communications 114,730 70,042 44,688 16,409 28,279 — 28,279 WarnerMedia 35,632 27,737 7,895 656 7,239 38 7,277 Latin America Mexico 2,747 2,652 95 605 (510) — (510) Vrio 2,607 2,302 305 231 74 6 80 Total Latin America 5,354 4,954 400 836 (436) 6 (430) Segment Total 155,716 102,733 52,983 17,901 35,082 $ 44 $ 35,126 Corporate and Other Corporate 1 1,264 4,805 (3,541) 372 (3,913) (32) (3,945) Video 15,513 12,666 2,847 356 2,491 619 3,110 Acquisition-related items — 299 (299) 4,233 (4,532) — (4,532) Certain significant items — 4,961 (4,961) — (4,961) — (4,961) Eliminations and consolidations (3,629) (2,809) (820) — (820) — (820) AT&T Inc. $ 168,864 $ 122,655 $ 46,209 $ 22,862 $ 23,347 $ 631 $ 23,978 1 Includes $2,680 for the reclassification of prior service credit amortization and approximately $200 of retained operation and support costs and $240 of depreciation expense previously allocated to Video, net of reimbursements. For the year ended December 31, 2020 Revenues Operations EBITDA Depreciation Operating Equity in Net Operating Communications Mobility $ 72,564 $ 42,106 $ 30,458 $ 8,086 $ 22,372 $ — $ 22,372 Business Wireline 25,083 15,303 9,780 5,216 4,564 — 4,564 Consumer Wireline 12,318 8,027 4,291 2,914 1,377 — 1,377 Total Communications 109,965 65,436 44,529 16,216 28,313 — 28,313 WarnerMedia 30,442 21,579 8,863 671 8,192 18 8,210 Latin America Mexico 2,562 2,636 (74) 513 (587) — (587) Vrio 3,154 2,800 354 520 (166) 24 (142) Total Latin America 5,716 5,436 280 1,033 (753) 24 (729) Segment Total 146,123 92,451 53,672 17,920 35,752 $ 42 $ 35,794 Corporate and Other Corporate 1 2,207 4,205 (1,998) 310 (2,308) 53 (2,255) Video 28,610 24,174 4,436 2,262 2,174 — 2,174 Acquisition-related items — 468 (468) 8,012 (8,480) — (8,480) Certain significant items — 19,156 (19,156) 14 (19,170) — (19,170) Eliminations and consolidations (5,180) (3,615) (1,565) (2) (1,563) — (1,563) AT&T Inc. $ 171,760 $ 136,839 $ 34,921 $ 28,516 $ 6,405 $ 95 $ 6,500 1 Includes $2,442 for the reclassification of prior service credit amortization. For the year ended December 31, 2019 Revenues Operations EBITDA Depreciation Operating Equity in Net Operating Communications Mobility $ 71,056 $ 40,681 $ 30,375 $ 8,054 $ 22,321 $ — $ 22,321 Business Wireline 25,901 15,839 10,062 4,925 5,137 — 5,137 Consumer Wireline 13,012 7,775 5,237 2,880 2,357 — 2,357 Total Communications 109,969 64,295 45,674 15,859 29,815 — 29,815 WarnerMedia 35,259 24,172 11,087 589 10,498 161 10,659 Latin America Mexico 2,869 3,085 (216) 502 (718) — (718) Vrio 4,094 3,378 716 660 56 27 83 Total Latin America 6,963 6,463 500 1,162 (662) 27 (635) Segment Total 152,191 94,930 57,261 17,610 39,651 $ 188 $ 39,839 Corporate and Other Corporate 1 2,203 3,509 (1,306) 645 (1,951) (182) (2,133) Video 32,124 27,275 4,849 2,461 2,388 — 2,388 Acquisition-related items (72) 960 (1,032) 7,460 (8,492) — (8,492) Certain significant items — 2,082 (2,082) 43 (2,125) — (2,125) Eliminations and consolidations (5,253) (3,735) (1,518) (2) (1,516) — (1,516) AT&T Inc. $ 181,193 $ 125,021 $ 56,172 $ 28,217 $ 27,955 $ 6 $ 27,961 1 Includes $1,934 for the reclassification of prior service credit amortization. |
Reconciliation of Segment Contributions to Income Before Income Taxes | The following table is a reconciliation of operating income (loss) to “Income (Loss) Before Income Taxes” reported in our consolidated statements of income: 2021 2020 2019 Communications $ 28,279 $ 28,313 $ 29,815 WarnerMedia 7,277 8,210 10,659 Latin America (430) (729) (635) Segment Contribution 35,126 35,794 39,839 Reconciling Items: Corporate and Other (3,913) (2,308) (1,951) Video 2,491 2,174 2,388 Merger costs (299) (468) (1,032) Amortization of intangibles acquired (4,233) (8,012) (7,460) Asset impairments and abandonments (4,904) (18,880) (1,458) Gain on spectrum transaction 1 — 900 — Employee separation charges and benefit-related losses (57) (1,177) (624) Other noncash charges (credits), net — (13) (43) Segment equity in net income of affiliates (44) (42) (188) Eliminations and consolidations (820) (1,563) (1,516) AT&T Operating Income 23,347 6,405 27,955 Interest Expense 6,884 7,925 8,422 Equity in net income of affiliates 631 95 6 Other income (expense) – net 9,853 (1,431) (1,071) Income (Loss) Before Income Taxes $ 26,947 $ (2,856) $ 18,468 1 Included as a reduction of “Selling, general and administrative expenses” in the consolidated statements of income. |
Schedule of Revenues Earned from Customers and Property, Plant and Equipment by Geographical Areas | The following table sets forth revenues earned from customers, and property, plant and equipment located in different geographic areas: 2021 2020 2019 Revenues Net Property, Plant & Equipment Revenues Net Property, Plant & Equipment Revenues Net Property, United States $ 151,631 $ 120,924 $ 155,899 $ 121,208 $ 161,689 $ 122,567 Europe 6,079 1,106 5,387 1,152 6,536 1,854 Mexico 3,043 3,462 2,862 3,530 3,198 3,648 Brazil 1,486 20 1,807 694 2,797 1,057 All other Latin America 3,118 115 2,679 485 3,219 544 Asia/Pacific Rim 2,637 240 2,322 203 2,793 390 Other 870 37 804 43 961 68 Total $ 168,864 $ 125,904 $ 171,760 $ 127,315 $ 181,193 $ 130,128 |
Schedule of Intersegment Revenues, Assets, Investments in Equity Affiliates, and Capital Expenditures by Segment | The following tables present intersegment revenues, assets, investments in equity affiliates and capital expenditures by segment: Intersegment Reconciliation 2021 2020 2019 Intersegment revenues Communications $ 11 $ 11 $ 26 WarnerMedia 2,573 3,183 3,318 Latin America — — — Total Intersegment Revenues 2,584 3,194 3,344 Consolidations 1,045 1,986 1,909 Eliminations and consolidations $ 3,629 $ 5,180 $ 5,253 At or for the years ended December 31, 2021 2020 Assets Investments in Capital Assets Investments in Capital Communications $ 494,063 $ — $ 14,860 $ 506,102 $ — $ 14,107 WarnerMedia 154,369 1,122 764 148,037 1,123 699 Latin America 8,874 — 580 15,811 590 708 Corporate and eliminations (105,684) 6,152 323 (144,189) 67 161 Total $ 551,622 $ 7,274 $ 16,527 $ 525,761 $ 1,780 $ 15,675 |
Revenue Recognition (Tables)
Revenue Recognition (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Revenue from Contract with Customer [Abstract] | |
Disaggregation of Revenue by Category and Business Unit | Revenue Categories The following tables set forth reported revenue by category and by business unit: For the year ended December 31, 2021 Communications Mobility Business Wireline Consumer Wireline WarnerMedia Latin America Corporate & Other Elim. Total Wireless service $ 57,260 $ — $ — $ — $ 1,834 $ 74 $ — $ 59,168 Video service — — — — 2,607 14,514 — 17,121 Business service — 23,224 — — — 70 — 23,294 Broadband — — 9,085 — — — — 9,085 Subscription — — — 15,596 — — — 13,133 DTC (HBO Max) 1 — — — — — — (1,051) Other 2 — — — — — — (1,412) Content — — — 15,621 — — — 12,622 DTC (HBO Max) 3 — — — (1,923) — — — Other 3 — — — (1,076) — — — Advertising 330 — — 6,522 — 909 (909) 6,852 Legacy voice and data — — 1,977 — — 429 — 2,406 Other — — 1,384 892 — 691 (257) 2,710 Total Service 57,590 23,224 12,446 35,632 4,441 16,687 (3,629) 146,391 Equipment 20,664 713 93 — 913 90 — 22,473 Total $ 78,254 $ 23,937 $ 12,539 $ 35,632 $ 5,354 $ 16,777 $ (3,629) $ 168,864 1 Represents DTC (HBO Max) intercompany sales to the Communications segment ($698 with Mobility and $353 with Consumer Wireline). 2 Represents intercompany video distribution arrangements primarily to DIRECTV/U-verse from WarnerMedia prior to August 1, 2021 (see Note 20). 3 Represents intercompany transactions in the WarnerMedia segment. For the year ended December 31, 2020 Communications Mobility Business Wireline Consumer Wireline WarnerMedia Latin America Corporate & Other Elim. Total Wireless service $ 55,251 $ — $ — $ — $ 1,656 $ 528 $ — $ 57,435 Video service — — — — 3,154 26,747 — 29,901 Business service — 24,313 — — — 321 — 24,634 Broadband — — 8,534 — — — — 8,534 Subscription — — — 13,765 — — — 10,655 DTC (HBO Max) 1 — — — — — — (468) Other 2 — — — — — — (2,642) Content — — — 13,083 — — — 9,819 DTC (HBO Max) 3 — — — (2,249) — — — Other 3 — — — (1,015) — — — Advertising 291 — — 6,125 — 1,718 (1,718) 6,416 Legacy voice and data — — 2,213 — — 554 — 2,767 Other — — 1,564 733 — 661 (352) 2,606 Total Service 55,542 24,313 12,311 30,442 4,810 30,529 (5,180) 152,767 Equipment 17,022 770 7 — 906 288 — 18,993 Total $ 72,564 $ 25,083 $ 12,318 $ 30,442 $ 5,716 $ 30,817 $ (5,180) $ 171,760 1 Represents DTC (HBO Max) intercompany sales to the Communications segment ($285 with Mobility and $183 with Consumer Wireline). 2 Represents intercompany video distribution arrangements primarily to DIRECTV/U-verse from WarnerMedia (see Note 20). 3 Represents intercompany transactions in the WarnerMedia segment. For the year ended December 31, 2019 Communications Mobility Business Wireline Consumer Wireline WarnerMedia Latin America Corporate & Other Elim. Total Wireless service $ 55,039 $ — $ — $ — $ 1,863 $ 628 $ — $ 57,530 Video service — — — — 4,094 30,451 — 34,545 Business service — 25,116 — — — 325 — 25,441 Broadband — — 8,403 — — — — 8,403 Subscription — — — 13,651 — — — 10,402 DTC (HBO Max) 1 — — — — — — — Other 2 — — — — — — (3,249) Content — — — 14,938 — — — 13,880 DTC (HBO Max) 1 — — — — — — — Other 3 — — — (1,058) — — — Advertising 292 — — 6,678 — 1,672 (1,672) 6,970 Legacy voice and data — — 2,573 — — 565 — 3,138 Other — — 2,029 1,050 — 443 (332) 3,190 Total Service 55,331 25,116 13,005 35,259 5,957 34,084 (5,253) 163,499 Equipment 15,725 785 7 — 1,006 171 — 17,694 Total $ 71,056 $ 25,901 $ 13,012 $ 35,259 $ 6,963 $ 34,255 $ (5,253) $ 181,193 1 HBO Max was launched in May 2020. 2 Represents intercompany video distribution arrangements primarily to DIRECTV/U-verse from WarnerMedia (see Note 20). 3 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 at December 31: Consolidated Balance Sheets 2021 2020 Deferred Acquisition Costs Prepaid and other current assets $ 2,550 $ 3,087 Other Assets 3,248 3,198 Total deferred customer contract acquisition costs $ 5,798 $ 6,285 Deferred Fulfillment Costs Prepaid and other current assets $ 2,601 $ 4,118 Other Assets 4,148 5,634 Total deferred customer contract fulfillment costs $ 6,749 $ 9,752 The decline in deferred acquisition and fulfillment costs from December 31, 2020 reflects the July 2021 separation of the U.S. Video business. At separation, we removed $1,218 of deferred acquisitions costs ($693 originally classified as “Prepaid and other current assets” and $525 originally classified as “Other assets”) and $2,025 of deferred fulfillment costs ($1,134 originally classified as “Prepaid and other current assets” and $891 originally classified as “Other assets”). (See Note 6) The following table presents deferred customer contract acquisition and fulfillment cost amortization included in “Other cost of revenue” for the year ended December 31: Consolidated Statements of Income 2021 2020 Deferred acquisition cost amortization $ 3,072 $ 2,755 Deferred fulfillment cost amortization 4,019 5,110 |
Schedule of Contract Assets and Liabilities | The following table presents contract assets and liabilities on our consolidated balance sheets at December 31: Consolidated Balance Sheets 2021 2020 Contract asset $ 4,517 $ 3,501 Current portion in “Prepaid and other current assets” 2,684 2,054 Contract liability 5,644 6,879 Current portion in “Advanced billings and customer deposits” 5,112 6,071 |
Acquisitions, Dispositions An_2
Acquisitions, Dispositions And Other Adjustments (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Business Combination and Asset Acquisition [Abstract] | |
Schedule of Assets and Liabilities Held-for-Sale | The assets and liabilities of the Video operations, transferred to DIRECTV upon close of the transaction, were as follows: Current assets $ 4,893 Property, plant and equipment – net 2,673 Licenses – net 5,798 Other intangible assets – net 1,634 Other assets 1,787 Total Video assets $ 16,785 Current liabilities $ 4,267 Long-term debt 206 Other noncurrent liabilities 343 Total Video liabilities $ 4,816 |
Property, Plant And Equipment (
Property, Plant And Equipment (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Property, Plant and Equipment [Abstract] | |
Schedule of Property, Plant and Equipment | Property, plant and equipment is summarized as follows at December 31: Lives (years) 2021 2020 Land - $ 2,458 $ 2,571 Buildings and improvements 2-44 39,306 39,418 Central office equipment 1 3-10 97,069 95,981 Cable, wiring and conduit 15-50 79,961 75,409 Satellites 14-17 103 908 Other equipment 3-20 86,830 90,883 Software 3-7 17,916 18,482 Under construction - 5,845 4,099 329,488 327,751 Accumulated depreciation and amortization 203,584 200,436 Property, plant and equipment – net $ 125,904 $ 127,315 1 Includes certain network software. |
Leases (Tables)
Leases (Tables) | 12 Months Ended |
Dec. 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: 2021 2020 2019 Operating lease cost $ 5,793 $ 5,896 $ 5,684 Finance lease cost: Amortization of right-of-use assets $ 256 $ 287 $ 271 Interest on lease obligation 162 156 169 Total finance lease cost $ 418 $ 443 $ 440 The following table provides supplemental cash flows information related to leases: 2021 2020 2019 Cash Flows from Operating Activities Cash paid for amounts included in lease obligations: Operating cash flows from operating leases $ 5,012 $ 4,852 $ 4,583 Supplemental Lease Cash Flow Disclosures Operating lease right-of-use assets obtained in exchange for new operating lease obligations $ 4,581 $ 5,270 $ 7,818 The following tables set forth supplemental balance sheet information related to leases at December 31: 2021 2020 Operating Leases Operating lease right-of-use assets $ 24,180 $ 24,714 Accounts payable and accrued liabilities $ 3,706 $ 3,537 Operating lease obligation 21,261 22,202 Total operating lease obligation $ 24,967 $ 25,739 Finance Leases Property, plant and equipment, at cost $ 2,609 $ 3,586 Accumulated depreciation and amortization (1,120) (1,361) Property, plant and equipment – net $ 1,489 $ 2,225 Current portion of long-term debt $ 137 $ 189 Long-term debt 1,484 1,847 Total finance lease obligation $ 1,621 $ 2,036 2021 2020 Weighted-Average Remaining Lease Term (years) Operating leases 8.4 8.5 Finance leases 8.4 9.9 Weighted-Average Discount Rate Operating leases 3.7 % 4.1 % Finance leases 7.8 % 8.1 % |
Schedule of Maturities of Operating Leases | The following table provides the expected future minimum maturities of lease obligations: At December 31, 2021 Operating Leases Finance 2022 $ 4,922 $ 299 2023 4,502 283 2024 3,970 257 2025 3,232 246 2026 2,540 243 Thereafter 10,686 1,068 Total lease payments 29,852 2,396 Less: imputed interest (4,885) (775) Total $ 24,967 $ 1,621 |
Schedule of Maturities of Finance Leases | The following table provides the expected future minimum maturities of lease obligations: At December 31, 2021 Operating Leases Finance 2022 $ 4,922 $ 299 2023 4,502 283 2024 3,970 257 2025 3,232 246 2026 2,540 243 Thereafter 10,686 1,068 Total lease payments 29,852 2,396 Less: imputed interest (4,885) (775) Total $ 24,967 $ 1,621 |
Goodwill And Other Intangible_2
Goodwill And Other Intangible Assets (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Summary Of Changes In Carrying Amount Of Goodwill, By Segment | The following table sets forth the changes in the carrying amounts of goodwill by operating segment: 2021 2020 Balance at Dispositions, Balance at Balance at Acquisitions Impairments Dispositions, Balance at Communications $ 91,976 $ (76) $ 91,900 $ 100,234 $ — $ (8,253) $ (5) $ 91,976 WarnerMedia 42,447 (1,940) 40,507 42,345 415 — (313) 42,447 Latin America 836 (20) 816 3,662 — (2,212) (614) 836 Total $ 135,259 $ (2,036) $ 133,223 $ 146,241 $ 415 $ (10,465) $ (932) $ 135,259 |
Schedule of Amortized Intangible Assets | Our other intangible assets at December 31 are summarized as follows: 2021 2020 Other Intangible Assets Weighted-Average Life Gross Carrying Accumulated Currency Gross Carrying Accumulated Currency Amortized intangible assets: Wireless licenses 21.6 years $ 3,083 $ 307 $ (440) $ 2,979 $ 271 $ (421) Orbital slots N/A — — — 5,825 — — Trademarks and trade names 38.3 years 18,781 2,077 (7) 20,016 1,518 (442) Distribution network 10.0 years 18,399 6,457 — 18,414 4,621 — Released television and film content 17.8 years 10,939 6,978 — 10,940 6,240 — Customer lists and relationships 11.2 years 637 483 (98) 4,100 1,645 (460) Other 22.3 years 10,987 3,221 — 11,311 2,615 (5) Total 24.6 years $ 62,826 $ 19,523 $ (545) $ 73,585 $ 16,910 $ (1,328) |
Schedule of Indefinite-Life Intangible Assets Not Subject to Amortization | Indefinite-lived intangible assets not subject to amortization: Wireless licenses $ 111,494 $ 85,728 Trade names 5,241 5,241 Total $ 116,735 $ 90,969 |
Schedule of Future Amortization Expense | Estimated amortization expense for the next five years is as follows: Year AT&T Inc. Attributable to WarnerMedia 1 2022 $ 3,907 $ 3,747 2023 3,895 3,741 2024 3,524 3,377 2025 3,394 3,258 2026 3,309 3,174 1 The pending WarnerMedia/Discovery transaction is expected to close in the second quarter of 2022, subject to approval by Discovery shareholders and customary closing conditions. (See Note 6) |
Equity Method Investments (Tabl
Equity Method Investments (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Equity Method Investments and Joint Ventures [Abstract] | |
Reconciliation of Investments In Equity Affiliates | The following table is a reconciliation of our investments in equity affiliates as presented on our consolidated balance sheets: 2021 2020 Beginning of year $ 1,780 $ 3,695 Additional investments 265 178 Receipt of equity interest in DIRECTV 6,852 — Distributions from DIRECTV in excess of cumulative equity in earnings (1,323) — Other capital distributions (26) (22) Dividends and distributions of cumulative earnings received (815) (133) Equity in net income of affiliates 631 95 Acquisition of remaining interest in HBO LAG — (1,141) Disposition of CME — (749) Impairments — (146) Disposition of various investments (68) — Currency translation adjustments (16) (10) Other adjustments (6) 13 End of year $ 7,274 $ 1,780 |
Inventories And Theatrical Fi_2
Inventories And Theatrical Film And Television Production Costs (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Inventory Disclosure [Abstract] | |
Inventories and Theatrical Film and Television Production Costs | The following table summarizes inventories and theatrical film and television production costs as of December 31: 2021 2020 Inventories: Programming costs, less amortization 1 $ 7,101 $ 6,010 Other inventory, primarily DVD and Blu-ray Discs 134 103 Total inventories 7,235 6,113 Less: current portion of inventory (134) (103) Total noncurrent inventories 7,101 6,010 Theatrical film production costs: 2 Released, less amortization 525 487 Completed and not released 343 616 In production 1,687 1,130 Development and pre-production 143 190 Television production costs: 2 Released, less amortization 3,335 2,495 Completed and not released 1,350 1,381 In production 4,376 2,353 Development and pre-production 123 90 Total theatrical film and television production costs 11,882 8,742 Total noncurrent inventories and theatrical film and television production costs $ 18,983 $ 14,752 1 Includes the costs of certain programming rights, primarily sports, for which payments have been made prior to the related rights being received. 2 Does not include $3,961 and $4,699 of acquired film and television library intangible assets as of December 31, 2021 and 2020, respectively, which are included in “Other Intangible Assets – Net” on our consolidated balance sheets. |
Debt (Tables)
Debt (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Debt Disclosure [Abstract] | |
Summary of Long-Term Debt of AT&T and its Subsidiaries | Long-term debt of AT&T and its subsidiaries, including interest rates and maturities, is summarized as follows at December 31: 2021 2020 Notes and debentures Interest Rates Maturities 1 0.69% - 2.99% 2021 - 2039 $ 31,841 $ 25,549 3.00% - 4.99% 2021 - 2061 108,003 110,317 5.00% - 6.99% 2021 - 2095 23,360 24,259 7.00% - 9.15% 2021 - 2097 5,645 5,006 Credit agreement borrowings 10,400 300 Fair value of interest rate swaps recorded in debt 16 20 179,265 165,451 Unamortized (discount) premium – net (9,610) (9,710) Unamortized issuance costs (508) (532) Total notes and debentures 169,147 155,209 Finance lease obligations 1,621 2,036 Total long-term debt, including current maturities 170,768 157,245 Current maturities of long-term debt (7,944) (3,470) Current maturities of credit agreement borrowings (10,100) — Total long-term debt $ 152,724 $ 153,775 1 Maturities assume puttable debt is redeemed by the holders at the next opportunity. |
Debt Maturing Within One Year | 2021 2020 Current maturities of long-term debt $ 7,944 $ 3,470 Commercial paper 6,586 — Credit agreement borrowings 10,100 — Total $ 24,630 $ 3,470 |
Schedule of Debt Activity | Our debt activity during 2021 primarily consisted of the following: First Second Third Fourth Full Year 2021 Net commercial paper borrowings 1 $ 7,072 $ (513) $ (2) $ 4 $ 6,561 Issuance of Notes and Debentures 2 : U.S. dollar denominated global notes $ 6,000 $ — $ — $ — $ 6,000 Initial average rate of 1.27% Euro denominated global notes (converted to USD at issuance) 1,461 — — — 1,461 Rate of 0.00% 2021 Syndicated Term Loan 7,350 — — — 7,350 BAML Bilateral Term Loan 2,000 — — — 2,000 Private financing 750 — — — 750 Other 636 — 835 — 1,471 Debt Issuances $ 18,197 $ — $ 835 $ — $ 19,032 Repayments: Private financing $ (649) $ — $ — $ — $ (649) 2.650% Euro denominated global notes due 2021 — — — (1,349) (1,349) Other (253) (253) (498) (140) (1,144) Repayments of long-term debt $ (902) $ (253) $ (498) $ (1,489) $ (3,142) 1 Includes $1,316 net issuance of commercial paper with original maturities of three months or less, $12,755 of commercial paper issued greater than 90 days and $7,510 of commercial paper repaid greater than 90 days. 2 Includes credit agreement borrowing. |
Long-Term Debt - Scheduled Repayments | 2022 2023 2024 2025 2026 Thereafter Debt repayments 1 $ 18,185 $ 7,739 $ 11,562 $ 6,484 $ 10,557 $ 126,922 Weighted-average interest rate 2 1.9 % 3.4 % 2.9 % 3.9 % 3.3 % 4.2 % 1 Debt repayments represent maturity value and assume puttable debt is redeemed at the next opportunity. Foreign debt includes the impact from hedges, when applicable. Includes credit agreement borrowings. 2 Includes credit agreement borrowings. |
Fair Value Measurements And D_2
Fair Value Measurements And Disclosure (Tables) | 12 Months Ended |
Dec. 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: December 31, 2021 December 31, 2020 Carrying Fair Carrying Fair Notes and debentures 1 $ 169,147 $ 194,891 $ 155,209 $ 187,224 Commercial paper 6,586 6,586 — — Investment securities 2 3,374 3,374 3,249 3,249 1 Includes credit agreement borrowings. Excludes note payable to DIRECTV. 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 December 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. December 31, 2021 Level 1 Level 2 Level 3 Total Equity Securities Domestic equities $ 1,256 $ — $ — $ 1,256 International equities 227 — — 227 Fixed income equities 230 — — 230 Available-for-Sale Debt Securities — 1,384 — 1,384 Asset Derivatives Cross-currency swaps — 211 — 211 Foreign exchange contracts — 8 — 8 Liability Derivatives Cross-currency swaps — (3,170) — (3,170) Foreign exchange contracts — (41) — (41) 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: For the years ended December 31, 2021 2020 2019 Total gains (losses) recognized on equity securities $ 293 $ 171 $ 301 Gains (Losses) recognized on equity securities sold (5) (25) 100 Unrealized gains (losses) recognized on equity securities held at end of period $ 298 $ 196 $ 201 |
Notional Amount of Outstanding Derivative Positions | Following are the notional amounts of our outstanding derivative positions at December 31: 2021 2020 Cross-currency swaps $ 40,737 $ 40,745 Foreign exchange contracts 30 90 Total $ 40,767 $ 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 Fair Value Hedging Relationships For the years ended December 31, 2021 2020 2019 Interest rate swaps (Interest expense): Gain (Loss) on interest rate swaps $ (4) $ (6) $ 58 Gain (Loss) on long-term debt 4 6 (58) Cross-currency swaps: Gain (Loss) on cross-currency swaps (91) — — Gain (Loss) on long-term debt 91 — — Gain (Loss) recognized in accumulated OCI (17) — — Cash Flow Hedging Relationships For the years ended December 31, 2021 2020 2019 Cross-currency swaps: Gain (Loss) recognized in accumulated OCI $ (873) $ (378) $ (1,066) Foreign exchange contracts: Gain (Loss) recognized in accumulated OCI (17) 3 10 Other income (expense) – net reclassified from accumulated OCI into income 1 (3) 6 Interest rate locks: Gain (Loss) recognized in accumulated OCI — (648) (84) Interest income (expense) reclassified from accumulated OCI into income (92) (84) (63) |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Income Tax Disclosure [Abstract] | |
Components Of Deferred Tax Liabilities (Assets) | Significant components of our deferred tax liabilities (assets) are as follows at December 31: 2021 2020 Depreciation and amortization $ 47,433 $ 46,952 Licenses and nonamortizable intangibles 15,576 13,930 Employee benefits (3,338) (5,279) Deferred fulfillment costs 1,797 2,691 Equity in partnership 3,285 — Net operating loss and other carryforwards (6,703) (7,355) Other – net 2,308 4,562 Subtotal 60,358 55,501 Deferred tax assets valuation allowance 4,638 4,773 Net deferred tax liabilities $ 64,996 $ 60,274 Noncurrent deferred tax liabilities $ 65,226 $ 60,472 Less: Noncurrent deferred tax assets (230) (198) Net deferred tax liabilities $ 64,996 $ 60,274 |
Changes in Unrecognized Tax Benefits Balance | A reconciliation of the change in our UTB balance from January 1 to December 31 for 2021 and 2020 is as follows: Federal, State and Foreign Tax 2021 2020 Balance at beginning of year $ 10,001 $ 10,979 Increases for tax positions related to the current year 677 1,580 Increases for tax positions related to prior years 443 112 Decreases for tax positions related to prior years (1,344) (994) Lapse of statute of limitations (29) (24) Settlements (342) (1,646) Current year dispositions (4) — Foreign currency effects — (6) Balance at end of year 9,402 10,001 Accrued interest and penalties 2,221 2,450 Gross unrecognized income tax benefits 11,623 12,451 Less: Deferred federal and state income tax benefits (799) (878) Less: Tax attributable to timing items included above (3,515) (3,588) Total UTB that, if recognized, would impact the effective income tax rate as of the end of the year $ 7,309 $ 7,985 |
Components of Income Tax Expense (Benefit) | The components of income tax (benefit) expense are as follows: 2021 2020 2019 Federal: Current $ (1,198) $ (687) $ 584 Deferred 5,296 1,039 1,656 4,098 352 2,240 State and local: Current 646 (6) 603 Deferred 456 263 144 1,102 257 747 Foreign: Current 516 413 605 Deferred (248) (57) (99) 268 356 506 Total $ 5,468 $ 965 $ 3,493 |
Schedule of Income before Income Tax, Domestic and Foreign | “Income (Loss) Before Income Taxes” in the Consolidated Statements of Income included the following components for the years ended December 31: 2021 2020 2019 U.S. income (loss) before income taxes $ 30,223 $ (452) $ 18,301 Foreign income (loss) before income taxes (3,276) (2,404) 167 Total $ 26,947 $ (2,856) $ 18,468 |
Reconciliation of Income Tax Expense (Benefit) Based on Federal Statutory Rate to Amount Per Effective Tax Rate | A reconciliation of income tax expense (benefit) and the amount computed by applying the statutory federal income tax rate of 21% to income from continuing operations before income taxes is as follows: 2021 2020 2019 Taxes computed at federal statutory rate $ 5,659 $ (600) $ 3,878 Increases (decreases) in income taxes resulting from: State and local income taxes – net of federal income tax benefit 967 193 611 CARES Act federal NOL carryback (471) — — Tax on foreign investments (68) (141) (115) Noncontrolling interest (294) (285) (230) Permanent items and R&D credit (163) (239) (285) Audit resolutions (298) (112) (156) Divestitures (112) 107 — Goodwill impairment 1 250 2,120 — Other – net (2) (78) (210) Total $ 5,468 $ 965 $ 3,493 Effective Tax Rate 20.3 % (33.8) % 18.9 % 1 Goodwill impairments are not deductible for tax purposes. |
Pension And Postretirement Be_2
Pension And Postretirement Benefits (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Retirement Benefits [Abstract] | |
Schedule of Plan Obligations in Excess of Plan Assets | The following table presents the change in the projected benefit obligation for the years ended December 31: Pension Benefits Postretirement Benefits 2021 2020 2021 2020 Benefit obligation at beginning of year $ 62,158 $ 59,873 $ 13,928 $ 16,041 Service cost - benefits earned during the period 957 1,029 45 53 Interest cost on projected benefit obligation 1,276 1,687 210 416 Amendments — (340) — (2,655) Actuarial (gain) loss (1,237) 5,054 (275) 1,423 Benefits paid, including settlements (5,942) (5,124) (1,356) (1,370) Curtailment — (1) — — Plan transfers — (20) — 20 Benefit obligation at end of year $ 57,212 $ 62,158 $ 12,552 $ 13,928 The following table presents the change in the fair value of plan assets for the years ended December 31 and the plans’ funded status at December 31: Pension Benefits Postretirement Benefits 2021 2020 2021 2020 Fair value of plan assets at beginning of year $ 54,606 $ 53,530 $ 3,843 $ 4,145 Actual return on plan assets 5,737 6,199 210 302 Benefits paid, including settlements 1 (5,942) (5,124) (1,163) (1,029) Contributions — 2 308 425 Plan transfers — (1) — — Fair value of plan assets at end of year 54,401 54,606 3,198 3,843 Unfunded status at end of year 2 $ (2,811) $ (7,552) $ (9,354) $ (10,085) 1 At our discretion, certain postretirement benefits may be paid from our cash accounts, which does not reduce Voluntary Employee Benefit Association (VEBA) assets. Future benefit payments may be made from VEBA trusts and thus reduce those asset balances. 2 Funded status is not indicative of our ability to pay ongoing pension benefits or of our obligation to fund retirement trusts. Required pension funding is determined in accordance with the Employee Retirement Income Security Act of 1974, as amended (ERISA) and applicable regulations. Amounts recognized on our consolidated balance sheets at December 31 are listed below: Pension Benefits Postretirement Benefits 2021 2020 2021 2020 Current portion of employee benefit obligation 1 $ — $ — $ (1,106) $ (1,213) Employee benefit obligation 2 (2,811) (7,552) (8,248) (8,872) Net amount recognized $ (2,811) $ (7,552) $ (9,354) $ (10,085) 1 Included in “Accounts payable and accrued liabilities.” 2 Included in “Postemployment benefit obligation,” combined with international pension obligations and other postemployment obligations of $364 and $1,226 at December 31, 2021, and $553 and $1,299 at December 31, 2020, respectively. |
Schedule Of Defined Benefit Plan And Postretirement Benefits Disclosure | The following table presents the components of net periodic benefit cost (credit): Pension Benefits Postretirement Benefits 2021 2020 2019 2021 2020 2019 Service cost – benefits earned during the period $ 957 $ 1,029 $ 1,019 $ 45 $ 53 $ 71 Interest cost on projected benefit obligation 1,276 1,687 1,960 210 416 675 Expected return on assets (3,513) (3,557) (3,561) (151) (178) (227) Amortization of prior service credit (144) (113) (113) (2,537) (2,329) (1,820) Net periodic benefit cost (credit) before (1,424) (954) (695) (2,433) (2,038) (1,301) Actuarial (gain) loss (3,461) 2,404 3,088 (334) 1,299 1,670 Net pension and postretirement $ (4,885) $ 1,450 $ 2,393 $ (2,767) $ (739) $ 369 Other Changes in Benefit Obligations Recognized in Other Comprehensive Income The following table presents the after-tax changes in benefit obligations recognized in OCI and the after-tax prior service credits that were amortized from OCI into net periodic benefit costs: Pension Benefits Postretirement Benefits 2021 2020 2019 2021 2020 2019 Balance at beginning of year $ 525 $ 361 $ 447 $ 8,416 $ 8,171 $ 6,086 Prior service (cost) credit — 250 — — 2,001 3,457 Amortization of prior service credit (109) (86) (86) (1,912) (1,756) (1,372) Total recognized in other comprehensive (income) loss (109) 164 (86) (1,912) 245 2,085 Balance at end of year $ 416 $ 525 $ 361 $ 6,504 $ 8,416 $ 8,171 |
Schedule of Assumptions in Determining the Projected Benefit Obligation and Net Pension and Postretirement Benefit Cost | In determining the projected benefit obligation and the net pension and postretirement benefit cost, we used the following significant weighted-average assumptions: Pension Benefits Postretirement Benefits 2021 2020 2019 2021 2020 2019 Weighted-average discount rate for determining benefit obligation at December 31 3.00 % 2.70 % 3.40 % 2.80 % 2.40 % 3.20 % Discount rate in effect for determining service cost 1 3.30 % 3.60 % 4.10 % 2.90 % 3.50 % 4.40 % Discount rate in effect for determining interest cost 1 2.30 % 2.90 % 3.50 % 1.60 % 2.70 % 3.70 % Weighted-average interest credit rate for cash balance pension programs 2 3.20 % 3.10 % 3.30 % — % — % — % Long-term rate of return on plan assets 6.75 % 7.00 % 7.00 % 4.50 % 4.75 % 5.75 % Composite rate of compensation increase for determining benefit obligation 3.00 % 3.00 % 3.00 % 3.00 % 3.00 % 3.00 % Composite rate of compensation increase for determining net cost (benefit) 3.00 % 3.00 % 3.00 % 3.00 % 3.00 % 3.00 % 1 Weighted-average discount rates shown for years with interim remeasurements: 2021 and 2019 for pension benefits and 2019 for postretirement benefits. 2 Weighted-average interest crediting rates for cash balance pension programs relate only to the cash balance portion of total pension benefits. A 0.50% increase in the weighted-average interest crediting rate would increase the pension benefit obligation by $125. |
Schedule of Defined Benefit Plan Targeted and Actual Plan Asset Allocations | The plans’ weighted-average asset targets and actual allocations as a percentage of plan assets, including the notional exposure of future contracts by asset categories at December 31 are as follows: Pension Assets Postretirement (VEBA) Assets Target 2021 2020 Target 2021 2020 Equity securities: Domestic 12 % - 22 % 16 % 19 % 14 % - 24 % 19 % 19 % International 8 % - 18 % 13 15 14 % - 24 % 19 14 Fixed income securities 35 % - 45 % 38 35 34 % - 44 % 39 45 Real assets 7 % - 17 % 10 8 — % - 6 % 1 1 Private equity 3 % - 13 % 12 9 — % - 6 % 1 1 Preferred interests 5 % - 15 % 10 10 — % - — % — — Other — % - 5 % 1 % 4 17 % - 27 % 21 20 Total 100 % 100 % 100 % 100 % |
Schedule of Fair Value of Pension and Postretirement Assets and Liabilities by Level | The following tables set forth by level, within the fair value hierarchy, the pension and postretirement assets and liabilities at fair value as of December 31, 2021: Pension Assets and Liabilities at Fair Value as of December 31, 2021 Level 1 Level 2 Level 3 Total Non-interest bearing cash $ 167 $ — $ — $ 167 Interest bearing cash 11 — — 11 Foreign currency contracts — 5 — 5 Equity securities: Domestic equities 7,693 — 1 7,694 International equities 4,117 — 7 4,124 Preferred interests — — 5,562 5,562 Fixed income securities: Corporate bonds and other investments — 11,168 2 11,170 Government and municipal bonds — 6,977 — 6,977 Mortgage-backed securities — 268 — 268 Real estate and real assets — — 3,318 3,318 Securities lending collateral 1,645 1,285 — 2,930 Receivable for variation margin 8 — — 8 Assets at fair value 13,641 19,703 8,890 42,234 Investments sold short and other liabilities at fair value (529) (3) (1) (533) Total plan net assets at fair value $ 13,112 $ 19,700 $ 8,889 $ 41,701 Assets held at net asset value practical expedient Private equity funds 6,454 Real estate funds 2,329 Commingled funds 6,780 Total assets held at net asset value practical expedient 15,563 Other assets (liabilities) 1 (2,863) Total Plan Net Assets $ 54,401 1 Other assets (liabilities) include amounts receivable, accounts payable and net adjustment for securities lending payable. Postretirement Assets and Liabilities at Fair Value as of December 31, 2021 Level 1 Level 2 Level 3 Total Interest bearing cash $ 371 $ 295 $ — $ 666 Equity securities: Domestic equities 323 — — 323 International equities 287 — 1 288 Fixed income securities: Corporate bonds and other investments 1 — — 1 Securities lending collateral — 9 — 9 Assets at fair value 982 304 1 1,287 Securities lending payable and other liabilities — (9) — (9) Total plan net assets at fair value $ 982 $ 295 $ 1 $ 1,278 Assets held at net asset value practical expedient Commingled funds 1,883 Private equity 19 Real estate funds 16 Total assets held at net asset value practical expedient 1,918 Other assets (liabilities) 1 2 Total Plan Net Assets $ 3,198 1 Other assets (liabilities) include amounts receivable and accounts payable. The following tables set forth by level, within the fair value hierarchy, the pension and postretirement assets and liabilities at fair value as of December 31, 2020: Pension Assets and Liabilities at Fair Value as of December 31, 2020 Level 1 Level 2 Level 3 Total Non-interest bearing cash $ 173 $ — $ — $ 173 Interest bearing cash 7 — — 7 Foreign currency contracts — 3 — 3 Equity securities: Domestic equities 9,784 — 11 9,795 International equities 4,821 11 12 4,844 Preferred interests — — 5,771 5,771 Fixed income securities: Corporate bonds and other investments — 11,043 52 11,095 Government and municipal bonds — 6,039 — 6,039 Mortgage-backed securities — 442 1 443 Real estate and real assets — — 2,544 2,544 Securities lending collateral 621 1,435 — 2,056 Receivable for variation margin 23 — — 23 Assets at fair value 15,429 18,973 8,391 42,793 Investments sold short and other liabilities at fair value (450) (8) (1) (459) Total plan net assets at fair value $ 14,979 $ 18,965 $ 8,390 $ 42,334 Assets held at net asset value practical expedient Private equity funds 5,154 Real estate funds 1,694 Commingled funds 7,706 Total assets held at net asset value practical expedient 14,554 Other assets (liabilities) 1 (2,282) Total Plan Net Assets $ 54,606 1 Other assets (liabilities) include amounts receivable, accounts payable and net adjustment for securities lending payable. Postretirement Assets and Liabilities at Fair Value as of December 31, 2020 Level 1 Level 2 Level 3 Total Interest bearing cash $ 497 $ 302 $ — $ 799 Equity securities: Domestic equities 363 — — 363 International equities 282 — — 282 Fixed income securities: Corporate bonds and other investments 5 307 3 315 Government and municipal bonds 6 132 1 139 Mortgage-backed securities — 94 — 94 Securities lending collateral — 28 — 28 Assets at fair value 1,153 863 4 2,020 Securities lending payable and other liabilities (1) (29) — (30) Total plan net assets at fair value $ 1,152 $ 834 $ 4 $ 1,990 Assets held at net asset value practical expedient Private equity funds 24 Real estate funds 22 Commingled funds 1,843 Total assets held at net asset value practical expedient 1,889 Other assets (liabilities) 1 (36) Total Plan Net Assets $ 3,843 1 Other assets (liabilities) include amounts receivable and accounts payable. |
Summary of Changes in The Fair Value of the Level 3 Pension and Postretirement Assets | The tables below set forth a summary of changes in the fair value of the Level 3 pension and postretirement assets for the year ended December 31, 2021: Pension Assets Equities Fixed Income Funds Real Estate and Real Assets Total Balance at beginning of year $ 5,793 $ 53 $ 2,544 $ 8,390 Realized gains (losses) 2 — (31) (29) Unrealized gains (losses) (203) — 558 355 Transfers in — 1 — 1 Transfers out (7) (8) — (15) Purchases 7 1 425 433 Sales (23) (45) (178) (246) Balance at end of year $ 5,569 $ 2 $ 3,318 $ 8,889 Postretirement Assets Equities Fixed Income Funds Real Estate and Real Assets Total Balance at beginning of year $ — $ 4 $ — $ 4 Realized gains (losses) — (1) — (1) Unrealized gains (losses) — 1 — 1 Transfers in 1 — — 1 Sales — (4) — (4) Balance at end of year $ 1 $ — $ — $ 1 The tables below set forth a summary of changes in the fair value of the Level 3 pension and postretirement assets for the year ended December 31, 2020: Pension Assets Equities Fixed Income Funds Real Estate and Real Assets Total Balance at beginning of year $ 8,816 $ 6 $ 2,817 $ 11,639 Realized gains (losses) (150) — 255 105 Unrealized gains (losses) 3 — (178) (175) Transfers in 4 51 36 91 Transfers out — (3) — (3) Purchases 9,114 1 223 9,338 Sales (11,994) (2) (609) (12,605) Balance at end of year $ 5,793 $ 53 $ 2,544 $ 8,390 Postretirement Assets Equities Fixed Income Funds Real Estate and Real Assets Total Balance at beginning of year $ — $ 32 $ — $ 32 Transfers in — 3 — 3 Transfers out — (11) — (11) Sales — (20) — (20) Balance at end of year $ — $ 4 $ — $ 4 |
Estimated Future Benefit Payments | The following table provides expected benefit payments under our pension and postretirement plans: Pension Benefits Postretirement Benefits 2022 $ 5,922 $ 1,262 2023 4,237 1,181 2024 4,121 888 2025 4,113 842 2026 3,934 794 Years 2027 - 2031 18,292 3,544 |
Share-Based Payments (Tables)
Share-Based Payments (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Share-based Payment Arrangement [Abstract] | |
Compensation Cost | Our consolidated statements of income include the compensation cost recognized for those plans as operating expenses, as well as the associated tax benefits, which are reflected in the table below: 2021 2020 2019 Performance stock units $ 245 $ 348 $ 544 Restricted stock and stock units 385 290 273 Other nonvested stock units 7 — 7 Stock options — — (5) Total $ 637 $ 638 $ 819 Income tax benefit $ 157 $ 157 $ 202 |
Status of Nonvested Stock Units Activity and Changes During Year | A summary of the status of our nonvested stock units as of December 31, 2021, and changes during the year then ended is presented as follows (shares in millions): Nonvested Stock Units Shares Weighted-Average Grant- Nonvested at January 1, 2021 43 $ 34.50 Granted 36 28.79 Vested (26) 31.56 Forfeited (4) 31.52 Nonvested at December 31, 2021 49 $ 32.06 |
Sales Of Receivables (Tables)
Sales Of Receivables (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Receivables [Abstract] | |
Schedule of Finance Receivables | Our equipment installment and revolving receivables programs are discussed in detail below. The following table sets forth a summary of the receivables and accounts being serviced at December 31: 2021 2020 Equipment Installment Revolving Equipment Installment Revolving Gross receivables: $ 4,361 $ 3,527 $ 5,565 $ 3,909 Balance sheet classification Accounts receivable Notes receivable 1,846 — 2,716 — Trade receivables 606 3,337 554 3,715 Other Assets Noncurrent notes and trade receivables 1,909 190 2,295 194 Outstanding portfolio of receivables derecognized from our consolidated balance sheets 9,767 6,280 7,827 5,300 Cash proceeds received, net of remittances 1 6,644 6,280 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: 2021 2020 2019 Gross receivables sold $ 10,793 $ 7,270 $ 9,921 Net receivables sold 1 10,502 7,026 9,483 Cash proceeds received 9,740 6,089 8,189 Deferred purchase price recorded 1,080 1,021 1,451 Guarantee obligation recorded 434 157 341 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: 2021 2020 2019 Fair value of repurchased receivables $ 1,424 $ 1,271 $ 1,418 Carrying value of deferred purchase price 1,334 1,235 1,350 Gain on repurchases 1 $ 90 $ 36 $ 68 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: 2021 2020 2019 Gross receivables sold/cash proceeds received 1 $ 20,060 $ 15,888 $ 11,989 Total collections under revolving agreement 2 18,910 14,888 7,689 Receivables repurchased 170 — — Net cash proceeds received $ 980 $ 1,000 $ 4,300 Net receivables sold 3 $ 19,775 $ 15,760 $ 11,604 Obligations recorded 18 271 530 1 Includes initial sale of receivables of $1,380, $1,000 and $4,300 for 2021, 2020 and 2019, respectively. 2 Includes collections of $400, $0 and $0 for 2021, 2020 and 2019, respectively, that were not reinvested under the revolving agreement. 3 Receivables net of allowance, return and incentive reserves and imputed interest. |
Additional Financial Informat_2
Additional Financial Information (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Consolidated Balance Sheets | December 31, Consolidated Balance Sheets 2021 2020 Accounts payable and accrued liabilities: Accounts payable $ 30,756 $ 31,836 Accrued payroll and commissions 3,449 2,988 Current portion of employee benefit obligation 1,278 1,415 Accrued participations and residuals 2,966 2,708 Accrued interest 2,463 2,454 Accrued taxes 1,402 1,019 Other 8,347 7,631 Total accounts payable and accrued liabilities $ 50,661 $ 50,051 |
Consolidated Statements of Income | Consolidated Statements of Income 2021 2020 2019 Advertising expense $ 6,316 $ 5,253 $ 6,121 Interest expense incurred $ 7,838 $ 8,048 $ 8,622 Capitalized interest – capital expenditures (173) (123) (200) Capitalized interest – spectrum 1 (781) — — Total interest expense $ 6,884 $ 7,925 $ 8,422 1 Included in “Acquisitions, net of cash acquired” on our consolidated statement of cash flows. |
Consolidated Statements of Cash Flows | The following table summarizes cash and cash equivalents and restricted cash balances on our consolidated balance sheets: December 31, Cash and Cash Equivalents and Restricted Cash 2021 2020 2019 2018 Cash and cash equivalents $ 21,169 $ 9,740 $ 12,130 $ 5,204 Restricted cash in Other current assets 3 9 69 61 Restricted cash in Other Assets 144 121 96 135 Cash and cash equivalents and restricted cash $ 21,316 $ 9,870 $ 12,295 $ 5,400 The following table summarizes cash paid during the periods for interest income taxes and spectrum: Consolidated Statements of Cash Flows 2021 2020 2019 Cash paid (received) during the year for: Interest $ 7,673 $ 8,237 $ 8,693 Income taxes, net of refunds 700 993 1,421 Spectrum acquisitions 1 24,672 1,613 1,576 1 Included as cash paid for “Acquisitions, net of cash acquired” on our consolidated statement of cash flows. Excludes interest during construction. |
Summary Of Significant Accoun_3
Summary Of Significant Accounting Policies (Narrative) (Details) - USD ($) $ / shares in Units, $ in Millions | 12 Months Ended | |||||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Jan. 01, 2020 | Jan. 01, 2019 | Dec. 31, 2018 | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||
Retained earnings | $ (42,350) | $ (37,457) | ||||
Contract asset | 4,517 | 3,501 | ||||
Deferred income tax liability | 65,226 | 60,472 | ||||
Noncontrolling interest | 17,523 | 17,567 | ||||
Operating lease liability | 24,967 | 25,739 | ||||
Operating lease right-of-use assets | 24,180 | 24,714 | ||||
Other current assets | (17,793) | (18,358) | ||||
Cash | 5,204 | |||||
Cash and cash equivalents | $ 21,169 | 9,740 | $ 12,130 | $ 5,204 | ||
Estimated period of ultimate revenues, from initial release or from delivery of first episode (years) | 10 years | |||||
Estimated economic useful life | 24 years 7 months 6 days | |||||
Amortization expense | $ 4,288 | $ 8,239 | $ 7,932 | |||
Diluted earnings per share attributable to Common Stock (in dollars per share) | $ 2.76 | $ (0.75) | $ 1.89 | |||
Wireless Licenses | ||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||
FCC licenses - typical term (in years) | 10 years | |||||
Estimated economic useful life | 21 years 7 months 6 days | |||||
Money Market Funds and Other Cash Equivalents | ||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||
Cash equivalents | $ 15,965 | |||||
Foreign Jurisdictions | ||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||
Cash and cash equivalents | $ 2,706 | |||||
Minimum | Software | ||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||
Amortization period for capitalized software costs | 3 years | |||||
Maximum | Software | ||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||
Amortization period for capitalized software costs | 7 years | |||||
Mexico | Wireless Licenses | ||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||
Estimated economic useful life | 25 years | |||||
ASU 2016-13 | ||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||
Retained earnings | $ 293 | |||||
Allowance for credit loss | 395 | |||||
Contract asset | (10) | |||||
Deferred income tax liability | (105) | |||||
Noncontrolling interest | $ (7) | |||||
ASU 2016-02 | ||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||
Retained earnings | $ (316) | |||||
Operating lease liability | 22,121 | |||||
Operating lease right-of-use assets | 22,121 | |||||
Net Assets | $ 20,960 |
Earnings Per Share (Details)
Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Numerator for basic earnings per share: | |||
Net Income (Loss) | $ 21,479 | $ (3,821) | $ 14,975 |
Less: Net Income Attributable to Noncontrolling Interest | (1,398) | (1,355) | (1,072) |
Net Income (Loss) Attributable to AT&T | 20,081 | (5,176) | 13,903 |
Less: Preferred Stock Dividends | (207) | (193) | (3) |
Net Income (Loss) Attributable to Common Stock | 19,874 | (5,369) | 13,900 |
Dilutive potential common shares: | |||
Share-based payment1 | 22 | 23 | 21 |
Numerator for diluted earnings per share | $ 19,896 | $ (5,346) | $ 13,921 |
Denominator for basic earnings per share: | |||
Weighted-average number of common shares outstanding (in shares) | 7,168 | 7,157 | 7,319 |
Dilutive potential common shares: | |||
Share-based payment (in shares) | 31 | 26 | 29 |
Denominator for diluted earnings per share (in shares) | 7,199 | 7,183 | 7,348 |
Basic Earnings Per Share Attributable to Common Stock (in dollars per share) | $ 2.77 | $ (0.75) | $ 1.90 |
Diluted Earnings Per Share Attributable to Common Stock (in dollars per share) | $ 2.76 | $ (0.75) | $ 1.89 |
Earnings Per Share (Narrative)
Earnings Per Share (Narrative) (Details) - USD ($) shares in Millions, $ in Millions | 3 Months Ended | 12 Months Ended | |||
Dec. 31, 2021 | Mar. 31, 2020 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items] | |||||
Repurchase of common stock | $ 202 | $ 5,498 | $ 2,417 | ||
Repurchase of common stock (in shares) | 0 | 142 | |||
Mobility II, LLC | Preferred Stock – Series A | |||||
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items] | |||||
Preferred interest distributions | $ 140 | $ 560 | |||
Preferred interest, securities issued (in shares) | 320 | 320 | |||
Stock Repurchase Program | |||||
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items] | |||||
Repurchase of common stock | $ 4,000 | ||||
Repurchase of common stock (in shares) | 104.8 |
Other Comprehensive Income (Det
Other Comprehensive Income (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |||
Other comprehensive income (loss) before reclassifications | $ (937) | $ 647 | $ 2,635 |
Amounts reclassified from accumulated OCI | 136 | (1,787) | (1,414) |
Other comprehensive income (loss) attributable to AT&T | (801) | (1,140) | 1,221 |
Accumulated Other Comprehensive Income | |||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |||
Accumulated other comprehensive income, beginning balance | 4,330 | 5,470 | 4,249 |
Other comprehensive income (loss) attributable to AT&T | (801) | (1,140) | 1,221 |
Accumulated other comprehensive income, ending balance | 3,529 | 4,330 | 5,470 |
Foreign Currency Translation Adjustment | |||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |||
Accumulated other comprehensive income, beginning balance | (3,926) | (3,056) | (3,084) |
Other comprehensive income (loss) before reclassifications | (125) | (870) | 28 |
Amounts reclassified from accumulated OCI | 2,087 | 0 | 0 |
Other comprehensive income (loss) attributable to AT&T | 1,962 | (870) | 28 |
Accumulated other comprehensive income, ending balance | (1,964) | (3,926) | (3,056) |
Net Unrealized Gains (Losses) on Available-for-Sale Securities | |||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |||
Accumulated other comprehensive income, beginning balance | 111 | 48 | (2) |
Other comprehensive income (loss) before reclassifications | (63) | 78 | 50 |
Amounts reclassified from accumulated OCI | (3) | (15) | 0 |
Other comprehensive income (loss) attributable to AT&T | (66) | 63 | 50 |
Accumulated other comprehensive income, ending balance | 45 | 111 | 48 |
Net Unrealized Gains (Losses) on Derivative Instruments | |||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |||
Accumulated other comprehensive income, beginning balance | (779) | (37) | 818 |
Other comprehensive income (loss) before reclassifications | (715) | (811) | (900) |
Amounts reclassified from accumulated OCI | 72 | 69 | 45 |
Other comprehensive income (loss) attributable to AT&T | (643) | (742) | (855) |
Accumulated other comprehensive income, ending balance | (1,422) | (779) | (37) |
Defined Benefit Postretirement Plans | |||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |||
Accumulated other comprehensive income, beginning balance | 8,924 | 8,515 | 6,517 |
Other comprehensive income (loss) before reclassifications | (34) | 2,250 | 3,457 |
Amounts reclassified from accumulated OCI | (2,020) | (1,841) | (1,459) |
Other comprehensive income (loss) attributable to AT&T | (2,054) | 409 | 1,998 |
Accumulated other comprehensive income, ending balance | $ 6,870 | $ 8,924 | $ 8,515 |
Segment Information (Summary Of
Segment Information (Summary Of Operating Revenues And Expenses By Segment) (Narrative) (Details) | 12 Months Ended |
Dec. 31, 2021segment | |
Segment Reporting [Abstract] | |
Number of reportable segments | 3 |
Segment Information (Summary _2
Segment Information (Summary Of Operating Revenues And Expenses By Segment) (Details) - USD ($) $ in Millions | 5 Months Ended | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Segment Reporting Information [Line Items] | ||||
Revenues | $ 168,864 | $ 171,760 | $ 181,193 | |
Operations and Support Expenses | 122,655 | 136,839 | 125,021 | |
EBITDA | 46,209 | 34,921 | 56,172 | |
Depreciation and Amortization | 22,862 | 28,516 | 28,217 | |
Operating Income (Loss) | 23,347 | 6,405 | 27,955 | |
Equity in Net Income (Loss) of Affiliates | 631 | 95 | 6 | |
Operating Contribution | 23,978 | 6,500 | 27,961 | |
Reclassification of prior service credit amortization | 2,442 | 1,934 | ||
Operating Segments | ||||
Segment Reporting Information [Line Items] | ||||
Revenues | 155,716 | 146,123 | 152,191 | |
Operations and Support Expenses | 102,733 | 92,451 | 94,930 | |
EBITDA | 52,983 | 53,672 | 57,261 | |
Depreciation and Amortization | 17,901 | 17,920 | 17,610 | |
Operating Income (Loss) | 35,082 | 35,752 | 39,651 | |
Equity in Net Income (Loss) of Affiliates | 44 | 42 | 188 | |
Operating Contribution | 35,126 | 35,794 | 39,839 | |
Corporate | ||||
Segment Reporting Information [Line Items] | ||||
Revenues | 1,264 | 2,207 | 2,203 | |
Operations and Support Expenses | 4,805 | 4,205 | 3,509 | |
EBITDA | (3,541) | (1,998) | (1,306) | |
Depreciation and Amortization | 372 | 310 | 645 | |
Operating Income (Loss) | (3,913) | (2,308) | (1,951) | |
Equity in Net Income (Loss) of Affiliates | (32) | 53 | (182) | |
Operating Contribution | (3,945) | (2,255) | (2,133) | |
Reclassification of prior service credit amortization | 2,680 | |||
Reconciling Items | ||||
Segment Reporting Information [Line Items] | ||||
Equity in Net Income (Loss) of Affiliates | (44) | (42) | (188) | |
Video | ||||
Segment Reporting Information [Line Items] | ||||
Revenues | 15,513 | 28,610 | 32,124 | |
Operations and Support Expenses | 12,666 | 24,174 | 27,275 | |
EBITDA | 2,847 | 4,436 | 4,849 | |
Depreciation and Amortization | 356 | 2,262 | 2,461 | |
Operating Income (Loss) | 2,491 | 2,174 | 2,388 | |
Equity in Net Income (Loss) of Affiliates | 619 | 0 | 0 | |
Operating Contribution | 3,110 | 2,174 | 2,388 | |
Acquisition-related items | ||||
Segment Reporting Information [Line Items] | ||||
Revenues | 0 | 0 | (72) | |
Operations and Support Expenses | 299 | 468 | 960 | |
EBITDA | (299) | (468) | (1,032) | |
Depreciation and Amortization | 4,233 | 8,012 | 7,460 | |
Operating Income (Loss) | (4,532) | (8,480) | (8,492) | |
Equity in Net Income (Loss) of Affiliates | 0 | 0 | 0 | |
Operating Contribution | (4,532) | (8,480) | (8,492) | |
Certain significant items | ||||
Segment Reporting Information [Line Items] | ||||
Revenues | 0 | 0 | 0 | |
Operations and Support Expenses | 4,961 | 19,156 | 2,082 | |
EBITDA | (4,961) | (19,156) | (2,082) | |
Depreciation and Amortization | 0 | 14 | 43 | |
Operating Income (Loss) | (4,961) | (19,170) | (2,125) | |
Equity in Net Income (Loss) of Affiliates | 0 | 0 | 0 | |
Operating Contribution | (4,961) | (19,170) | (2,125) | |
Eliminations and consolidations | ||||
Segment Reporting Information [Line Items] | ||||
Revenues | (3,629) | (5,180) | (5,253) | |
Operations and Support Expenses | (2,809) | (3,615) | (3,735) | |
EBITDA | (820) | (1,565) | (1,518) | |
Depreciation and Amortization | 0 | (2) | (2) | |
Operating Income (Loss) | (820) | (1,563) | (1,516) | |
Equity in Net Income (Loss) of Affiliates | 0 | 0 | 0 | |
Operating Contribution | (820) | (1,563) | (1,516) | |
Communications | Operating Segments | ||||
Segment Reporting Information [Line Items] | ||||
Revenues | 114,730 | 109,965 | 109,969 | |
Operations and Support Expenses | 70,042 | 65,436 | 64,295 | |
EBITDA | 44,688 | 44,529 | 45,674 | |
Depreciation and Amortization | 16,409 | 16,216 | 15,859 | |
Operating Income (Loss) | 28,279 | 28,313 | 29,815 | |
Equity in Net Income (Loss) of Affiliates | 0 | 0 | 0 | |
Operating Contribution | 28,279 | 28,313 | 29,815 | |
Communications | Mobility | Operating Segments | ||||
Segment Reporting Information [Line Items] | ||||
Revenues | 78,254 | 72,564 | 71,056 | |
Operations and Support Expenses | 46,820 | 42,106 | 40,681 | |
EBITDA | 31,434 | 30,458 | 30,375 | |
Depreciation and Amortization | 8,122 | 8,086 | 8,054 | |
Operating Income (Loss) | 23,312 | 22,372 | 22,321 | |
Equity in Net Income (Loss) of Affiliates | 0 | 0 | 0 | |
Operating Contribution | 23,312 | 22,372 | 22,321 | |
Communications | Consumer Wireline | Operating Segments | ||||
Segment Reporting Information [Line Items] | ||||
Revenues | 12,539 | 12,318 | 13,012 | |
Operations and Support Expenses | 8,467 | 8,027 | 7,775 | |
EBITDA | 4,072 | 4,291 | 5,237 | |
Depreciation and Amortization | 3,095 | 2,914 | 2,880 | |
Operating Income (Loss) | 977 | 1,377 | 2,357 | |
Equity in Net Income (Loss) of Affiliates | 0 | 0 | 0 | |
Operating Contribution | 977 | 1,377 | 2,357 | |
Communications | Business Wireline | Operating Segments | ||||
Segment Reporting Information [Line Items] | ||||
Revenues | 23,937 | 25,083 | 25,901 | |
Operations and Support Expenses | 14,755 | 15,303 | 15,839 | |
EBITDA | 9,182 | 9,780 | 10,062 | |
Depreciation and Amortization | 5,192 | 5,216 | 4,925 | |
Operating Income (Loss) | 3,990 | 4,564 | 5,137 | |
Equity in Net Income (Loss) of Affiliates | 0 | 0 | 0 | |
Operating Contribution | 3,990 | 4,564 | 5,137 | |
WarnerMedia | Operating Segments | ||||
Segment Reporting Information [Line Items] | ||||
Revenues | 35,632 | 30,442 | 35,259 | |
Operations and Support Expenses | 27,737 | 21,579 | 24,172 | |
EBITDA | 7,895 | 8,863 | 11,087 | |
Depreciation and Amortization | 656 | 671 | 589 | |
Operating Income (Loss) | 7,239 | 8,192 | 10,498 | |
Equity in Net Income (Loss) of Affiliates | 38 | 18 | 161 | |
Operating Contribution | 7,277 | 8,210 | 10,659 | |
Latin America | Operating Segments | ||||
Segment Reporting Information [Line Items] | ||||
Revenues | 5,354 | 5,716 | 6,963 | |
Operations and Support Expenses | 4,954 | 5,436 | 6,463 | |
EBITDA | 400 | 280 | 500 | |
Depreciation and Amortization | 836 | 1,033 | 1,162 | |
Operating Income (Loss) | (436) | (753) | (662) | |
Equity in Net Income (Loss) of Affiliates | 6 | 24 | 27 | |
Operating Contribution | (430) | (729) | (635) | |
Latin America | Vrio | Operating Segments | ||||
Segment Reporting Information [Line Items] | ||||
Revenues | 2,607 | 3,154 | 4,094 | |
Operations and Support Expenses | 2,302 | 2,800 | 3,378 | |
EBITDA | 305 | 354 | 716 | |
Depreciation and Amortization | 231 | 520 | 660 | |
Operating Income (Loss) | 74 | (166) | 56 | |
Equity in Net Income (Loss) of Affiliates | 6 | 24 | 27 | |
Operating Contribution | 80 | (142) | 83 | |
Latin America | Mexico | Operating Segments | ||||
Segment Reporting Information [Line Items] | ||||
Revenues | 2,747 | 2,562 | 2,869 | |
Operations and Support Expenses | 2,652 | 2,636 | 3,085 | |
EBITDA | 95 | (74) | (216) | |
Depreciation and Amortization | 605 | 513 | 502 | |
Operating Income (Loss) | (510) | (587) | (718) | |
Equity in Net Income (Loss) of Affiliates | 0 | 0 | 0 | |
Operating Contribution | (510) | $ (587) | $ (718) | |
DIRECTV | Equity Method Investee [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Equity in Net Income (Loss) of Affiliates | $ 619 | 619 | ||
Related Party Costs | $ 550 | |||
DIRECTV | Equity Method Investee [Member] | Corporate | ||||
Segment Reporting Information [Line Items] | ||||
Revenue from Related Parties | 200 | |||
Related Party Costs | $ 240 |
Segment Information (Reconcilia
Segment Information (Reconciliation Of Operating Income (Loss) to Consolidated Statement Of Income) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | |||
Income (Loss) Before Income Taxes | $ 26,947 | $ (2,856) | $ 18,468 |
AT&T Operating Income | 23,347 | 6,405 | 27,955 |
Amortization of intangibles acquired | (4,288) | (8,239) | (7,932) |
Asset impairments and abandonments | (4,904) | (18,880) | (1,458) |
Equity in net income of affiliates | 631 | 95 | 6 |
Interest Expense | 6,884 | 7,925 | 8,422 |
Other income (expense) – net | 9,853 | (1,431) | (1,071) |
Operating Segments | |||
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | |||
Income (Loss) Before Income Taxes | 35,126 | 35,794 | 39,839 |
AT&T Operating Income | 35,082 | 35,752 | 39,651 |
Equity in net income of affiliates | 44 | 42 | 188 |
Operating Segments | Communications | |||
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | |||
Income (Loss) Before Income Taxes | 28,279 | 28,313 | 29,815 |
AT&T Operating Income | 28,279 | 28,313 | 29,815 |
Equity in net income of affiliates | 0 | 0 | 0 |
Operating Segments | WarnerMedia | |||
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | |||
Income (Loss) Before Income Taxes | 7,277 | 8,210 | 10,659 |
AT&T Operating Income | 7,239 | 8,192 | 10,498 |
Equity in net income of affiliates | 38 | 18 | 161 |
Operating Segments | Latin America | |||
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | |||
Income (Loss) Before Income Taxes | (430) | (729) | (635) |
AT&T Operating Income | (436) | (753) | (662) |
Equity in net income of affiliates | 6 | 24 | 27 |
Corporate and Other | |||
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | |||
AT&T Operating Income | (3,913) | (2,308) | (1,951) |
Reconciling Items | |||
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | |||
Merger costs | (299) | (468) | (1,032) |
Amortization of intangibles acquired | (4,233) | (8,012) | (7,460) |
Asset impairments and abandonments | (4,904) | (18,880) | (1,458) |
Gain on spectrum transaction | 0 | 900 | 0 |
Employee separation charges and benefit-related losses | (57) | (1,177) | (624) |
Other noncash charges (credits), net | 0 | (13) | (43) |
Equity in net income of affiliates | (44) | (42) | (188) |
Eliminations and consolidations | |||
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | |||
AT&T Operating Income | (820) | (1,563) | (1,516) |
Equity in net income of affiliates | 0 | 0 | 0 |
Video | |||
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | |||
AT&T Operating Income | 2,491 | 2,174 | 2,388 |
Equity in net income of affiliates | $ 619 | $ 0 | $ 0 |
Segment Information (Schedule o
Segment Information (Schedule of Schedule of Revenues Earned from Customers and Property, Plant and Equipment by Geographical Areas) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
Revenues | $ 168,864 | $ 171,760 | $ 181,193 |
Net Property, Plant & Equipment | 125,904 | 127,315 | 130,128 |
United States | |||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
Revenues | 151,631 | 155,899 | 161,689 |
Net Property, Plant & Equipment | 120,924 | 121,208 | 122,567 |
Europe | |||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
Revenues | 6,079 | 5,387 | 6,536 |
Net Property, Plant & Equipment | 1,106 | 1,152 | 1,854 |
Mexico | |||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
Revenues | 3,043 | 2,862 | 3,198 |
Net Property, Plant & Equipment | 3,462 | 3,530 | 3,648 |
Brazil | |||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
Revenues | 1,486 | 1,807 | 2,797 |
Net Property, Plant & Equipment | 20 | 694 | 1,057 |
All other Latin America | |||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
Revenues | 3,118 | 2,679 | 3,219 |
Net Property, Plant & Equipment | 115 | 485 | 544 |
Asia/Pacific Rim | |||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
Revenues | 2,637 | 2,322 | 2,793 |
Net Property, Plant & Equipment | 240 | 203 | 390 |
Other | |||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
Revenues | 870 | 804 | 961 |
Net Property, Plant & Equipment | $ 37 | $ 43 | $ 68 |
Segment Information (Intersegme
Segment Information (Intersegment Details) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Segment Reporting Information [Line Items] | |||
Total revenues | $ (168,864) | $ (171,760) | $ (181,193) |
Total Intersegment Revenues | |||
Segment Reporting Information [Line Items] | |||
Total revenues | 2,584 | 3,194 | 3,344 |
Consolidations | |||
Segment Reporting Information [Line Items] | |||
Total revenues | 1,045 | 1,986 | 1,909 |
Eliminations and consolidations | |||
Segment Reporting Information [Line Items] | |||
Total revenues | 3,629 | 5,180 | 5,253 |
Communications | Total Intersegment Revenues | |||
Segment Reporting Information [Line Items] | |||
Total revenues | 11 | 11 | 26 |
WarnerMedia | Total Intersegment Revenues | |||
Segment Reporting Information [Line Items] | |||
Total revenues | 2,573 | 3,183 | 3,318 |
Latin America | Total Intersegment Revenues | |||
Segment Reporting Information [Line Items] | |||
Total revenues | $ 0 | $ 0 | $ 0 |
Segment Information (Interseg_2
Segment Information (Intersegment Assets, Equity Affiliates Investments and Capital Expenditures Details) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Segment Reporting Information [Line Items] | |||
Assets | $ 551,622 | $ 525,761 | |
Investments in Equity Method Investees | 7,274 | 1,780 | $ 3,695 |
Capital Expenditures | 16,527 | 15,675 | $ 19,635 |
Corporate and eliminations | |||
Segment Reporting Information [Line Items] | |||
Assets | (105,684) | (144,189) | |
Investments in Equity Method Investees | 6,152 | 67 | |
Capital Expenditures | 323 | 161 | |
Communications | Operating Segments | |||
Segment Reporting Information [Line Items] | |||
Assets | 494,063 | 506,102 | |
Investments in Equity Method Investees | 0 | 0 | |
Capital Expenditures | 14,860 | 14,107 | |
WarnerMedia | Operating Segments | |||
Segment Reporting Information [Line Items] | |||
Assets | 154,369 | 148,037 | |
Investments in Equity Method Investees | 1,122 | 1,123 | |
Capital Expenditures | 764 | 699 | |
Latin America | Operating Segments | |||
Segment Reporting Information [Line Items] | |||
Assets | 8,874 | 15,811 | |
Investments in Equity Method Investees | 0 | 590 | |
Capital Expenditures | $ 580 | $ 708 |
Revenue Recognition (Narrative)
Revenue Recognition (Narrative) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Jul. 31, 2021 | Dec. 31, 2020 | |
Revenue from Contract with Customer [Abstract] | |||
Content revenue, commencement period | 3 years | ||
Contract with Customer, Asset and Liability [Abstract] | |||
Beginning of period contract liability recorded as customer contract revenue during period | $ 5,662 | ||
Revenue, Performance Obligation [Abstract] | |||
Aggregate amount of the transaction price allocated to remaining performance obligations | 42,678 | ||
Prepaid Expenses and Other Current Assets | |||
Contract with Customer, Asset and Liability [Abstract] | |||
Contract asset balance - current portion | 2,684 | $ 2,054 | |
Discontinued Operations | Video Business Unit | |||
Contract with Customer, Asset and Liability [Abstract] | |||
Contract asset balance - current portion | $ 303 | ||
Contract liability balance - current portion | 1,098 | ||
Deferred Acquisition Costs | |||
Capitalized Contract Cost [Line Items] | |||
Deferred contract acquisition costs | 5,798 | 6,285 | |
Deferred Acquisition Costs | Other Assets | |||
Capitalized Contract Cost [Line Items] | |||
Deferred contract acquisition costs | $ 3,248 | 3,198 | |
Deferred Acquisition Costs | Discontinued Operations | Video Business Unit | Scenario, Adjustment | |||
Capitalized Contract Cost [Line Items] | |||
Deferred contract acquisition costs | 1,218 | ||
Deferred Acquisition Costs | Discontinued Operations | Video Business Unit | Prepaid Expenses and Other Current Assets | Scenario, Adjustment | |||
Capitalized Contract Cost [Line Items] | |||
Deferred contract acquisition costs | 693 | ||
Deferred Acquisition Costs | Discontinued Operations | Video Business Unit | Other Assets | Scenario, Adjustment | |||
Capitalized Contract Cost [Line Items] | |||
Deferred contract acquisition costs | 525 | ||
Deferred Acquisition Costs | Minimum | |||
Capitalized Contract Cost [Line Items] | |||
Expected customer relationship life | 3 years | ||
Deferred Acquisition Costs | Maximum | |||
Capitalized Contract Cost [Line Items] | |||
Expected customer relationship life | 5 years | ||
Deferred Fulfillment Costs | |||
Capitalized Contract Cost [Line Items] | |||
Deferred contract acquisition costs | $ 6,749 | 9,752 | |
Deferred Fulfillment Costs | Other Assets | |||
Capitalized Contract Cost [Line Items] | |||
Deferred contract acquisition costs | $ 4,148 | $ 5,634 | |
Deferred Fulfillment Costs | Discontinued Operations | Video Business Unit | Scenario, Adjustment | |||
Capitalized Contract Cost [Line Items] | |||
Deferred contract acquisition costs | 2,025 | ||
Deferred Fulfillment Costs | Discontinued Operations | Video Business Unit | Prepaid Expenses and Other Current Assets | Scenario, Adjustment | |||
Capitalized Contract Cost [Line Items] | |||
Deferred contract acquisition costs | 1,134 | ||
Deferred Fulfillment Costs | Discontinued Operations | Video Business Unit | Other Assets | Scenario, Adjustment | |||
Capitalized Contract Cost [Line Items] | |||
Deferred contract acquisition costs | $ 891 | ||
Deferred Fulfillment Costs | Minimum | |||
Capitalized Contract Cost [Line Items] | |||
Expected customer relationship life | 3 years | ||
Deferred Fulfillment Costs | Maximum | |||
Capitalized Contract Cost [Line Items] | |||
Expected customer relationship life | 5 years |
Revenue Recognition (Revenue Ca
Revenue Recognition (Revenue Categories) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | $ 168,864 | $ 171,760 | $ 181,193 |
Service [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 146,391 | 152,767 | 163,499 |
Wireless Service [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 59,168 | 57,435 | 57,530 |
Legacy Voice and Data [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 2,406 | 2,767 | 3,138 |
Advertising | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 6,852 | 6,416 | 6,970 |
Other Service [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 2,710 | 2,606 | 3,190 |
Other Capitalized Property Plant and Equipment [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 22,473 | 18,993 | 17,694 |
Video Service | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 17,121 | 29,901 | 34,545 |
Business Service | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 23,294 | 24,634 | 25,441 |
IP Broadband | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 9,085 | 8,534 | 8,403 |
Subscription Service | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 13,133 | 10,655 | 10,402 |
Content Service | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 12,622 | 9,819 | 13,880 |
Operating Segments | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 155,716 | 146,123 | 152,191 |
Operating Segments | Communications | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 114,730 | 109,965 | 109,969 |
Operating Segments | Communications | Mobility | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 78,254 | 72,564 | 71,056 |
Operating Segments | Communications | Mobility | Service [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 57,590 | 55,542 | 55,331 |
Operating Segments | Communications | Mobility | Wireless Service [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 57,260 | 55,251 | 55,039 |
Operating Segments | Communications | Mobility | Legacy Voice and Data [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Operating Segments | Communications | Mobility | Advertising | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 330 | 291 | 292 |
Operating Segments | Communications | Mobility | Other Service [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Operating Segments | Communications | Mobility | Other Capitalized Property Plant and Equipment [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 20,664 | 17,022 | 15,725 |
Operating Segments | Communications | Mobility | Video Service | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Operating Segments | Communications | Mobility | Business Service | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Operating Segments | Communications | Mobility | IP Broadband | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Operating Segments | Communications | Mobility | Subscription Service | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Operating Segments | Communications | Mobility | Subscription Service, Other | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Operating Segments | Communications | Mobility | Content Service | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Operating Segments | Communications | Mobility | Content Service, DTC (HBO Max) | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Operating Segments | Communications | Mobility | Content Service, Other | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Operating Segments | Communications | Mobility | Subscription Service, DTC (HBO Max) | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Operating Segments | Communications | Business Wireline | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 23,937 | 25,083 | 25,901 |
Operating Segments | Communications | Business Wireline | Service [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 23,224 | 24,313 | 25,116 |
Operating Segments | Communications | Business Wireline | Wireless Service [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Operating Segments | Communications | Business Wireline | Legacy Voice and Data [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Operating Segments | Communications | Business Wireline | Advertising | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Operating Segments | Communications | Business Wireline | Other Service [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Operating Segments | Communications | Business Wireline | Other Capitalized Property Plant and Equipment [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 713 | 770 | 785 |
Operating Segments | Communications | Business Wireline | Video Service | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Operating Segments | Communications | Business Wireline | Business Service | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 23,224 | 24,313 | 25,116 |
Operating Segments | Communications | Business Wireline | IP Broadband | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Operating Segments | Communications | Business Wireline | Subscription Service | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Operating Segments | Communications | Business Wireline | Subscription Service, Other | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Operating Segments | Communications | Business Wireline | Content Service | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Operating Segments | Communications | Business Wireline | Content Service, DTC (HBO Max) | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Operating Segments | Communications | Business Wireline | Content Service, Other | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Operating Segments | Communications | Business Wireline | Subscription Service, DTC (HBO Max) | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Operating Segments | Communications | Consumer Wireline | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 12,539 | 12,318 | 13,012 |
Operating Segments | Communications | Consumer Wireline | Service [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 12,446 | 12,311 | 13,005 |
Operating Segments | Communications | Consumer Wireline | Wireless Service [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Operating Segments | Communications | Consumer Wireline | Legacy Voice and Data [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 1,977 | 2,213 | 2,573 |
Operating Segments | Communications | Consumer Wireline | Advertising | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Operating Segments | Communications | Consumer Wireline | Other Service [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 1,384 | 1,564 | 2,029 |
Operating Segments | Communications | Consumer Wireline | Other Capitalized Property Plant and Equipment [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 93 | 7 | 7 |
Operating Segments | Communications | Consumer Wireline | Video Service | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Operating Segments | Communications | Consumer Wireline | Business Service | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Operating Segments | Communications | Consumer Wireline | IP Broadband | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 9,085 | 8,534 | 8,403 |
Operating Segments | Communications | Consumer Wireline | Subscription Service | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Operating Segments | Communications | Consumer Wireline | Subscription Service, Other | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Operating Segments | Communications | Consumer Wireline | Content Service | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Operating Segments | Communications | Consumer Wireline | Content Service, DTC (HBO Max) | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Operating Segments | Communications | Consumer Wireline | Content Service, Other | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Operating Segments | Communications | Consumer Wireline | Subscription Service, DTC (HBO Max) | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Operating Segments | WarnerMedia | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 35,632 | 30,442 | 35,259 |
Operating Segments | WarnerMedia | Service [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 35,632 | 30,442 | 35,259 |
Operating Segments | WarnerMedia | Wireless Service [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Operating Segments | WarnerMedia | Legacy Voice and Data [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Operating Segments | WarnerMedia | Advertising | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 6,522 | 6,125 | 6,678 |
Operating Segments | WarnerMedia | Other Service [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 892 | 733 | 1,050 |
Operating Segments | WarnerMedia | Other Capitalized Property Plant and Equipment [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Operating Segments | WarnerMedia | Video Service | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Operating Segments | WarnerMedia | Business Service | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Operating Segments | WarnerMedia | IP Broadband | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Operating Segments | WarnerMedia | Subscription Service | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 15,596 | 13,765 | 13,651 |
Operating Segments | WarnerMedia | Subscription Service, Other | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Operating Segments | WarnerMedia | Content Service | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 15,621 | 13,083 | 14,938 |
Operating Segments | WarnerMedia | Content Service, DTC (HBO Max) | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | (1,923) | (2,249) | 0 |
Operating Segments | WarnerMedia | Content Service, Other | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | (1,076) | (1,015) | (1,058) |
Operating Segments | WarnerMedia | Subscription Service, DTC (HBO Max) | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Operating Segments | Latin America | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 5,354 | 5,716 | 6,963 |
Operating Segments | Latin America | Service [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 4,441 | 4,810 | 5,957 |
Operating Segments | Latin America | Wireless Service [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 1,834 | 1,656 | 1,863 |
Operating Segments | Latin America | Legacy Voice and Data [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Operating Segments | Latin America | Advertising | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Operating Segments | Latin America | Other Service [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Operating Segments | Latin America | Other Capitalized Property Plant and Equipment [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 913 | 906 | 1,006 |
Operating Segments | Latin America | Video Service | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 2,607 | 3,154 | 4,094 |
Operating Segments | Latin America | Business Service | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Operating Segments | Latin America | IP Broadband | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Operating Segments | Latin America | Subscription Service | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Operating Segments | Latin America | Subscription Service, Other | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Operating Segments | Latin America | Content Service | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Operating Segments | Latin America | Content Service, DTC (HBO Max) | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Operating Segments | Latin America | Content Service, Other | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Operating Segments | Latin America | Subscription Service, DTC (HBO Max) | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Corporate and Other | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 16,777 | 30,817 | 34,255 |
Corporate and Other | Service [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 16,687 | 30,529 | 34,084 |
Corporate and Other | Wireless Service [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 74 | 528 | 628 |
Corporate and Other | Legacy Voice and Data [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 429 | 554 | 565 |
Corporate and Other | Advertising | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 909 | 1,718 | 1,672 |
Corporate and Other | Other Service [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 691 | 661 | 443 |
Corporate and Other | Other Capitalized Property Plant and Equipment [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 90 | 288 | 171 |
Corporate and Other | Video Service | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 14,514 | 26,747 | 30,451 |
Corporate and Other | Business Service | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 70 | 321 | 325 |
Corporate and Other | IP Broadband | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Corporate and Other | Subscription Service | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Corporate and Other | Subscription Service, Other | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Corporate and Other | Content Service | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Corporate and Other | Content Service, DTC (HBO Max) | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Corporate and Other | Content Service, Other | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Corporate and Other | Subscription Service, DTC (HBO Max) | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Eliminations and consolidations | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | (3,629) | (5,180) | (5,253) |
Eliminations and consolidations | Service [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | (3,629) | (5,180) | (5,253) |
Eliminations and consolidations | Wireless Service [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Eliminations and consolidations | Legacy Voice and Data [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Eliminations and consolidations | Advertising | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | (909) | (1,718) | (1,672) |
Eliminations and consolidations | Other Service [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | (257) | (352) | (332) |
Eliminations and consolidations | Other Capitalized Property Plant and Equipment [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Eliminations and consolidations | Video Service | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Eliminations and consolidations | Business Service | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Eliminations and consolidations | IP Broadband | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Eliminations and consolidations | Subscription Service | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Eliminations and consolidations | Subscription Service, Other | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | (1,412) | (2,642) | (3,249) |
Eliminations and consolidations | Content Service | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Eliminations and consolidations | Content Service, DTC (HBO Max) | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Eliminations and consolidations | Content Service, Other | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Eliminations and consolidations | Subscription Service, DTC (HBO Max) | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | (1,051) | (468) | $ 0 |
Eliminations and consolidations | Subscription Service, DTC (HBO Max) With Mobility | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | (698) | (285) | |
Eliminations and consolidations | Subscription Service, DTC (HBO Max) With Consumer Wireline | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | $ (353) | $ (183) |
Revenue Recognition (Deferred C
Revenue Recognition (Deferred Contract Acquisition and Fulfillment Costs) (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Deferred Acquisition Costs | ||
Capitalized Contract Cost, Net [Abstract] | ||
Total deferred costs | $ 5,798 | $ 6,285 |
Deferred cost amortization | 3,072 | 2,755 |
Deferred Acquisition Costs | Prepaid and other current assets | ||
Capitalized Contract Cost, Net [Abstract] | ||
Total deferred costs | 2,550 | 3,087 |
Deferred Acquisition Costs | Other Assets | ||
Capitalized Contract Cost, Net [Abstract] | ||
Total deferred costs | 3,248 | 3,198 |
Deferred Fulfillment Costs | ||
Capitalized Contract Cost, Net [Abstract] | ||
Total deferred costs | 6,749 | 9,752 |
Deferred cost amortization | 4,019 | 5,110 |
Deferred Fulfillment Costs | Prepaid and other current assets | ||
Capitalized Contract Cost, Net [Abstract] | ||
Total deferred costs | 2,601 | 4,118 |
Deferred Fulfillment Costs | Other Assets | ||
Capitalized Contract Cost, Net [Abstract] | ||
Total deferred costs | $ 4,148 | $ 5,634 |
Revenue Recognition (Contract A
Revenue Recognition (Contract Assets and Liabilities) (Details) - USD ($) $ in Millions | Dec. 31, 2021 | Jul. 31, 2021 | Dec. 31, 2020 |
Contract with Customer, Asset and Liability [Abstract] | |||
Contract asset | $ 4,517 | $ 3,501 | |
Current portion in “Prepaid and other current assets” | 5,644 | 6,879 | |
Capitalized Contract Cost [Line Items] | |||
Contract asset | 4,517 | 3,501 | |
Current portion in “Prepaid and other current assets” | 5,644 | 6,879 | |
Discontinued Operations | Video Business Unit | |||
Capitalized Contract Cost [Line Items] | |||
Contract asset balance - current portion | $ 303 | ||
Contract liability balance - current portion | $ 1,098 | ||
Prepaid Expenses and Other Current Assets | |||
Capitalized Contract Cost [Line Items] | |||
Contract asset balance - current portion | 2,684 | 2,054 | |
Other Current Liabilities | |||
Capitalized Contract Cost [Line Items] | |||
Contract liability balance - current portion | $ 5,112 | $ 6,071 |
Revenue Recognition (Remaining
Revenue Recognition (Remaining Performance Obligations) (Details) | Dec. 31, 2021 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Aggregate amount of the transaction price allocated to remaining performance obligations (percentage) | 57.00% |
Expected timing of satisfaction for remaining performance obligations, period | 12 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) | 43.00% |
Expected timing of satisfaction for remaining performance obligations, period |
Acquisitions, Dispositions An_3
Acquisitions, Dispositions And Other Adjustments (Spectrum Auctions Narrative) (Details) $ in Millions | Jan. 14, 2022license | Feb. 24, 2021license | Dec. 31, 2021USD ($) | Dec. 31, 2019USD ($) | Mar. 31, 2022USD ($) | Dec. 31, 2021USD ($) | Sep. 30, 2021USD ($) | Mar. 31, 2021USD ($) | Jun. 30, 2020USD ($) | Mar. 31, 2020USD ($) | Jun. 30, 2020USD ($) | Dec. 31, 2023USD ($) | Dec. 31, 2022USD ($) | Dec. 31, 2021USD ($) | Dec. 31, 2020USD ($) |
Licensing Agreements | |||||||||||||||
Indefinite-lived Intangible Assets [Line Items] | |||||||||||||||
Payments to acquire intangible assets | $ 1,186 | ||||||||||||||
39 GHz Licenses | |||||||||||||||
Indefinite-lived Intangible Assets [Line Items] | |||||||||||||||
Payments to acquire intangible assets | $ 949 | 2,379 | |||||||||||||
24 GHz Licenses | |||||||||||||||
Indefinite-lived Intangible Assets [Line Items] | |||||||||||||||
Payments to acquire intangible assets | $ 982 | ||||||||||||||
3.45 GHz Licenses | |||||||||||||||
Indefinite-lived Intangible Assets [Line Items] | |||||||||||||||
Payments to acquire intangible assets | $ 123 | ||||||||||||||
3.45 GHz Licenses | Subsequent Event | |||||||||||||||
Indefinite-lived Intangible Assets [Line Items] | |||||||||||||||
Winning bidder, number of licenses | license | 1,624 | ||||||||||||||
Payments to acquire intangible assets | $ 8,956 | $ 9,079 | |||||||||||||
C-Band Licenses | |||||||||||||||
Indefinite-lived Intangible Assets [Line Items] | |||||||||||||||
Winning bidder, number of licenses | license | 1,621 | ||||||||||||||
Payments to acquire intangible assets | $ 22,856 | $ 23,406 | $ 550 | ||||||||||||
Estimated relocation costs | $ 1,000 | ||||||||||||||
Intangible Asset Acquisition, Satellite Relocation Cost | $ 650 | ||||||||||||||
Phase I Spectrum | |||||||||||||||
Indefinite-lived Intangible Assets [Line Items] | |||||||||||||||
Estimated Incentive Payments upon clearing of spectrum | $ 955 | ||||||||||||||
Phase II Spectrum | Forecast | |||||||||||||||
Indefinite-lived Intangible Assets [Line Items] | |||||||||||||||
Estimated Incentive Payments upon clearing of spectrum | $ 2,112 | ||||||||||||||
FiberTower Corporation | 39 GHz Licenses | |||||||||||||||
Indefinite-lived Intangible Assets [Line Items] | |||||||||||||||
Book value of indefinite-lived intangible assets | $ 300 | ||||||||||||||
Gain on disposition of intangible asset | $ 900 | ||||||||||||||
Value of consideration received in a noncash transaction | $ 1,200 |
Acquisitions, Dispositions An_4
Acquisitions, Dispositions And Other Adjustments (HBO LAG, Time Warner, Otter and AppNexus Acquisitions Narrative) (Details) - USD ($) $ in Millions | 1 Months Ended | 12 Months Ended | ||
May 31, 2020 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Business Acquisition [Line Items] | ||||
Acquisitions, net of cash acquired | $ 25,453 | $ 1,851 | $ 1,809 | |
Goodwill | 133,223 | 135,259 | 146,241 | |
WarnerMedia | ||||
Business Acquisition [Line Items] | ||||
Goodwill | $ 40,507 | $ 42,447 | $ 42,345 | |
HBO LAG | WarnerMedia | ||||
Business Acquisition [Line Items] | ||||
Acquisitions, net of cash acquired | $ 141 | |||
Pre-tax remeasurement gain | 68 | |||
Acquisition of intangible assets, trade names | 640 | |||
Goodwill | 346 | |||
HBO LAG | WarnerMedia | Distribution Networks – Net | ||||
Business Acquisition [Line Items] | ||||
Acquisition of other intangible assets | $ 271 |
Acquisitions, Dispositions An_5
Acquisitions, Dispositions And Other Adjustments (Dispositions Narrative) (Details) - USD ($) $ in Millions | Sep. 20, 2021 | Jul. 31, 2021 | Nov. 06, 2020 | Oct. 31, 2020 | Oct. 13, 2020 | Jun. 30, 2019 | Apr. 30, 2019 | Jun. 30, 2022 | Sep. 30, 2021 | Jun. 30, 2021 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Jul. 15, 2023 | Nov. 15, 2021 | Jun. 04, 2021 | May 17, 2021 |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||||||||||||||
Debt guarantee, original amount covered | $ 1,100 | ||||||||||||||||
Debt guarantee | 600 | ||||||||||||||||
Payments to redeem cumulative preferred interest in subsidiary that held notes secured by proceeds of sale | $ 0 | $ 1,950 | $ 0 | ||||||||||||||
Bridge Loan | |||||||||||||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||||||||||||||
Aggregate principal amount of debt | $ 31,500 | $ 41,500 | |||||||||||||||
Credit agreement - advances outstanding | 0 | ||||||||||||||||
Secured Debt | |||||||||||||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||||||||||||||
Credit agreement - advances outstanding | $ 0 | ||||||||||||||||
Term Loan Credit Agreement | Secured Debt | |||||||||||||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||||||||||||||
Aggregate principal amount of debt | $ 10,000 | ||||||||||||||||
SKY Mexico | |||||||||||||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||||||||||||||
Ownership percentage by noncontrolling owners | 41.30% | ||||||||||||||||
DIRECTV | |||||||||||||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||||||||||||||
Preferred interest in newly formed company | $ 1,800 | $ 1,800 | |||||||||||||||
Interest in newly formed company, additional distribution preference | $ 4,200 | $ 4,200 | |||||||||||||||
Economic interest in common units held after disposal of business unit | 70.00% | 70.00% | |||||||||||||||
Agreement to pay net losses under NFL Sunday Ticket Contract, cap amount | $ 2,100 | $ 2,100 | |||||||||||||||
DIRECTV | TPG Capital | |||||||||||||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||||||||||||||
Economic interest in common units | 30.00% | 30.00% | |||||||||||||||
Cash contribution to newly formed company | $ 1,800 | ||||||||||||||||
DIRECTV | Junior Preferred Interests | |||||||||||||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||||||||||||||
Preferred interest in newly formed company | 4,250 | $ 4,250 | |||||||||||||||
Interest in newly formed company, additional distribution preference | 3,212 | ||||||||||||||||
DIRECTV | Senior Preferred Interests | 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 | $ 1,800 | |||||||||||||||
Otter Media | |||||||||||||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||||||||||||||
Cash proceeds received at closing | 1,540 | ||||||||||||||||
Goodwill | 1,200 | ||||||||||||||||
Playdemic | |||||||||||||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||||||||||||||
Cash proceeds received at closing | $ 1,370 | ||||||||||||||||
Gain (Loss) on Disposition of Business | 706 | ||||||||||||||||
Goodwill | $ 600 | ||||||||||||||||
CME | |||||||||||||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||||||||||||||
Cash proceeds received at closing | $ 1,100 | ||||||||||||||||
Percent of interest disposed | 65.30% | ||||||||||||||||
Disposal Group, Disposed of by Sale, Not Discontinued Operations | Hudson Yards North Tower Holdings LLC | |||||||||||||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||||||||||||||
Cash proceeds received at closing | $ 2,081 | ||||||||||||||||
Gain (Loss) on Disposition of Business | $ (100) | ||||||||||||||||
Disposal Group, Disposed of by Sale, Not Discontinued Operations | Hulu | |||||||||||||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||||||||||||||
Cash proceeds received at closing | $ 1,430 | ||||||||||||||||
Gain (Loss) on Disposition of Business | $ 740 | ||||||||||||||||
Disposal Group, Held-for-sale or Disposed of by Sale, Not Discontinued Operations [Member] | Vrio | |||||||||||||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||||||||||||||
Note Receivable from sale of Held-for-Sale assets | $ 610 | ||||||||||||||||
Financial Receivable | $ 300 | ||||||||||||||||
Asset Impairment Charges | $ 4,555 | ||||||||||||||||
Historical currency translation adjustments | 2,100 | ||||||||||||||||
Property, plant and equipment and intangible assets | 2,500 | ||||||||||||||||
Notes Receivable Payment Period | 4 years | ||||||||||||||||
Disposal Group, Held-for-sale or Disposed of by Sale, Not Discontinued Operations [Member] | Vrio | Noncontrolling Interest | |||||||||||||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||||||||||||||
Asset Impairment Charges | $ 80 | ||||||||||||||||
Discontinued Operations, Disposed of by Sale | Video Business Unit | |||||||||||||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||||||||||||||
Consideration received at closing | 7,170 | ||||||||||||||||
Cash proceeds received at closing | 7,600 | ||||||||||||||||
Previously received consideration | 430 | ||||||||||||||||
Amount of transferred debt | $ 195 | ||||||||||||||||
Discontinued Operations, Disposed of by Sale | Puerto Rico And U.S. Virgin Islands Operations | |||||||||||||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||||||||||||||
Payments to redeem cumulative preferred interest in subsidiary that held notes secured by proceeds of sale | $ 1,950 | $ 1,950 | |||||||||||||||
Consideration received at closing | 1,950 | ||||||||||||||||
Gain (Loss) on Disposition of Business | (82) | ||||||||||||||||
Discontinued Operations, Disposed of by Sale | Puerto Rico And U.S. Virgin Islands Operations | Net Tax Liabilities | |||||||||||||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||||||||||||||
Decrease in accounts payable and accrued liabilities due to removal of held-for-sale liabilities upon disposal | (500) | ||||||||||||||||
Discontinued Operations, Disposed of by Sale | Puerto Rico And U.S. Virgin Islands Operations | FCC Licenses | |||||||||||||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||||||||||||||
Decrease in other current assets due to removal of held-for-sale assets upon disposal | (1,100) | ||||||||||||||||
Discontinued Operations, Disposed of by Sale | Puerto Rico And U.S. Virgin Islands Operations | Goodwill | |||||||||||||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||||||||||||||
Decrease in other current assets due to removal of held-for-sale assets upon disposal | (250) | ||||||||||||||||
Discontinued Operations, Disposed of by Sale | Puerto Rico And U.S. Virgin Islands Operations | Property, Plant and Equipment | |||||||||||||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||||||||||||||
Decrease in other current assets due to removal of held-for-sale assets upon disposal | $ (850) | ||||||||||||||||
Disposal Group, Disposed of by Means Other than Sale, Not Discontinued Operations, Spinoff | WarnerMedia | Forecast | |||||||||||||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||||||||||||||
Consideration received at closing | $ 43,000 | ||||||||||||||||
Type of Consideration Received | AT&T shareholder will receive, on a tax-free basis, an estimated 0.24 shares of the new company for each share of AT&T common stock held as of the record date for the pro rata distribution | ||||||||||||||||
Termination Fee, Receivable | $ 720 | ||||||||||||||||
Termination Fee, Payable | $ 1,770 | ||||||||||||||||
Disposal Group, Disposed of by Means Other than Sale, Not Discontinued Operations, Spinoff | WarnerMedia | New Company | Forecast | |||||||||||||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||||||||||||||
Ownership percentage by parent | 71.00% | ||||||||||||||||
Ownership percentage by noncontrolling owners | 29.00% | ||||||||||||||||
Prepaid Expenses and Other Current Assets | Disposal Group, Held-for-sale or Disposed of by Sale, Not Discontinued Operations [Member] | Vrio | |||||||||||||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||||||||||||||
Held-for-sale assets | $ 851 | ||||||||||||||||
Prepaid Expenses and Other Current Assets | Held-for-sale | Xandr | |||||||||||||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||||||||||||||
Goodwill | 550 | ||||||||||||||||
Accounts payable and accrued liabilities | Disposal Group, Held-for-sale or Disposed of by Sale, Not Discontinued Operations [Member] | Vrio | |||||||||||||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||||||||||||||
Liabilities | $ 2,872 |
Acquisitions, Dispositions An_6
Acquisitions, Dispositions And Other Adjustments (Held-For-Sale) (Narrative) (Details) - Video Business Unit - Business Unit Held-for-Sale $ in Millions | Jul. 31, 2021USD ($) |
Disposal Group, Including Discontinued Operation, Assets [Abstract] | |
Current assets | $ 4,893 |
Property, plant and equipment – net | 2,673 |
Other assets | 1,787 |
Total Video assets | 16,785 |
Disposal Group, Including Discontinued Operation, Liabilities [Abstract] | |
Current liabilities | 4,267 |
Long-term debt | 206 |
Other noncurrent liabilities | 343 |
Total Video liabilities | 4,816 |
Licenses | |
Disposal Group, Including Discontinued Operation, Assets [Abstract] | |
Intangible assets - net | 5,798 |
Other Intangible Assets | |
Disposal Group, Including Discontinued Operation, Assets [Abstract] | |
Intangible assets - net | $ 1,634 |
Property, Plant And Equipment_2
Property, Plant And Equipment (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, at cost | $ 329,488 | $ 327,751 | |
Accumulated depreciation and amortization | 203,584 | 200,436 | |
Property, plant and equipment – net | 125,904 | 127,315 | $ 130,128 |
Land | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, at cost | 2,458 | 2,571 | |
Buildings and improvements | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, at cost | $ 39,306 | 39,418 | |
Buildings and improvements | Minimum | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, useful life | 2 years | ||
Buildings and improvements | Maximum | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, useful life | 44 years | ||
Central office equipment | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, at cost | $ 97,069 | 95,981 | |
Central office equipment | Minimum | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, useful life | 3 years | ||
Central office equipment | Maximum | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, useful life | 10 years | ||
Cable, wiring and conduit | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, at cost | $ 79,961 | 75,409 | |
Cable, wiring and conduit | Minimum | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, useful life | 15 years | ||
Cable, wiring and conduit | Maximum | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, useful life | 50 years | ||
Satellites | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, at cost | $ 103 | 908 | |
Satellites | Minimum | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, useful life | 14 years | ||
Satellites | Maximum | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, useful life | 17 years | ||
Other equipment | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, at cost | $ 86,830 | 90,883 | |
Other equipment | Minimum | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, useful life | 3 years | ||
Other equipment | Maximum | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, useful life | 20 years | ||
Software | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, at cost | $ 17,916 | 18,482 | |
Software | Minimum | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, useful life | 3 years | ||
Software | Maximum | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, useful life | 7 years | ||
Under construction | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, at cost | $ 5,845 | $ 4,099 |
Property, Plant And Equipment_3
Property, Plant And Equipment (Narrative) (Details) - USD ($) $ in Millions | 1 Months Ended | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Property, Plant and Equipment [Line Items] | ||||
Depreciation expense | $ 18,629 | $ 20,504 | $ 20,758 | |
Video | Communications | ||||
Property, Plant and Equipment [Line Items] | ||||
Impairment charge recorded | $ 7,255 | |||
Video | Communications | Property, Plant and Equipment | ||||
Property, Plant and Equipment [Line Items] | ||||
Impairment charge recorded | $ 1,681 | |||
Copper Network Assets | ||||
Property, Plant and Equipment [Line Items] | ||||
Noncash pre-tax charge to abandon copper assets | 1,290 | |||
Software | ||||
Property, Plant and Equipment [Line Items] | ||||
Depreciation expense | $ 3,021 | $ 3,483 | $ 3,313 |
Leases (Narrative) (Details)
Leases (Narrative) (Details) - Maximum | Dec. 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 | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Leases [Abstract] | |||
Operating lease cost | $ 5,793 | $ 5,896 | $ 5,684 |
Finance lease cost: | |||
Amortization of right-of-use assets | 256 | 287 | 271 |
Interest on lease obligation | 162 | 156 | 169 |
Total finance lease cost | $ 418 | $ 443 | $ 440 |
Leases (Supplemental Cash Flow
Leases (Supplemental Cash Flow Information Related to Leases) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Cash Flows from Operating Activities | |||
Operating cash flows from operating leases | $ 5,012 | $ 4,852 | $ 4,583 |
Supplemental Lease Cash Flow Disclosures | |||
Operating lease right-of-use assets obtained in exchange for new operating lease obligations | $ 4,581 | $ 5,270 | $ 7,818 |
Leases (Supplemental Balance Sh
Leases (Supplemental Balance Sheet Information Related to Leases) (Details) - USD ($) $ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Operating Leases | ||
Operating lease right-of-use assets | $ 24,180 | $ 24,714 |
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List] | Accounts payable and accrued liabilities | Accounts payable and accrued liabilities |
Accounts payable and accrued liabilities | $ 3,706 | $ 3,537 |
Operating lease obligation | $ 21,261 | $ 22,202 |
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration] | Operating lease obligation | Operating lease obligation |
Total operating lease obligation | $ 24,967 | $ 25,739 |
Finance Leases | ||
Property, plant and equipment, at cost | 2,609 | 3,586 |
Accumulated depreciation and amortization | (1,120) | (1,361) |
Property, plant and equipment – net | $ 1,489 | $ 2,225 |
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List] | Property, Plant and Equipment – Net | Property, Plant and Equipment – Net |
Current portion of long-term debt | $ 137 | $ 189 |
Finance Lease, Liability, Current, Statement of Financial Position [Extensible List] | Debt maturing within one year | Debt maturing within one year |
Long-term debt | $ 1,484 | $ 1,847 |
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List] | Long-Term Debt | Long-Term Debt |
Total finance lease obligation | $ 1,621 | $ 2,036 |
Weighted-Average Remaining Lease Term (years), Operating leases | 8 years 4 months 24 days | 8 years 6 months |
Weighted-Average Remaining Lease Term (years), Finance leases | 8 years 4 months 24 days | 9 years 10 months 24 days |
Weighted-Average Discount Rate, Operating leases | 3.70% | 4.10% |
Weighted-Average Discount Rate, Finance leases | 7.80% | 8.10% |
Leases (Future Minimum Maturiti
Leases (Future Minimum Maturities of Lease Liabilities) (Details) - USD ($) $ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Operating Leases | ||
2022 | $ 4,922 | |
2023 | 4,502 | |
2024 | 3,970 | |
2025 | 3,232 | |
2026 | 2,540 | |
Thereafter | 10,686 | |
Total lease payments | 29,852 | |
Less: imputed interest | (4,885) | |
Total | 24,967 | $ 25,739 |
Finance Leases | ||
2022 | 299 | |
2023 | 283 | |
2024 | 257 | |
2025 | 246 | |
2026 | 243 | |
Thereafter | 1,068 | |
Total lease payments | 2,396 | |
Less: imputed interest | (775) | |
Total | $ 1,621 | $ 2,036 |
Goodwill And Other Intangible_3
Goodwill And Other Intangible Assets (Summary Of Changes In Carrying Amount Of Goodwill, By Segment) (Details) - USD ($) $ in Millions | Jan. 01, 2021 | Dec. 31, 2020 | Jun. 30, 2020 | Dec. 31, 2021 | Dec. 31, 2020 | Oct. 01, 2021 |
Goodwill [Line Items] | ||||||
Goodwill | $ 135,259 | $ 133,223 | $ 135,259 | |||
Goodwill impairment | 10,465 | |||||
Goodwill [Roll Forward] | ||||||
Beginning balance | $ 135,259 | 135,259 | 146,241 | |||
Acquisitions | 415 | |||||
Impairments | (10,465) | |||||
Dispositions, currency exchange and other | (2,036) | (932) | ||||
Ending balance | 135,259 | 133,223 | 135,259 | |||
Orbital Slots | ||||||
Goodwill [Line Items] | ||||||
Impairment charge - intangible assets | 4,373 | |||||
Customer lists | ||||||
Goodwill [Line Items] | ||||||
Impairment charge - intangible assets | 1,201 | |||||
Communications | ||||||
Goodwill [Line Items] | ||||||
Goodwill | 91,976 | 91,900 | 91,976 | |||
Goodwill impairment | 8,253 | |||||
Goodwill [Roll Forward] | ||||||
Beginning balance | 91,976 | 91,976 | 100,234 | |||
Acquisitions | 0 | |||||
Impairments | (8,253) | |||||
Dispositions, currency exchange and other | (76) | (5) | ||||
Ending balance | 91,976 | 91,900 | 91,976 | |||
WarnerMedia | ||||||
Goodwill [Line Items] | ||||||
Percent fair values exceeded book values (less than) | 10.00% | |||||
Goodwill | 42,447 | 40,507 | 42,447 | |||
Goodwill impairment | 0 | 0 | ||||
Goodwill [Roll Forward] | ||||||
Beginning balance | 42,447 | 42,447 | 42,345 | |||
Acquisitions | 415 | |||||
Impairments | 0 | 0 | ||||
Dispositions, currency exchange and other | (1,940) | (313) | ||||
Ending balance | 42,447 | 40,507 | 42,447 | |||
Latin America | ||||||
Goodwill [Line Items] | ||||||
Goodwill | 836 | 816 | 836 | |||
Goodwill impairment | 2,212 | |||||
Goodwill [Roll Forward] | ||||||
Beginning balance | $ 836 | 836 | 3,662 | |||
Acquisitions | 0 | |||||
Impairments | (2,212) | |||||
Dispositions, currency exchange and other | (20) | (614) | ||||
Ending balance | 836 | 816 | $ 836 | |||
Otter Media | ||||||
Goodwill [Line Items] | ||||||
Goodwill | 885 | |||||
Goodwill [Roll Forward] | ||||||
Ending balance | 885 | |||||
Playdemic | WarnerMedia | ||||||
Goodwill [Line Items] | ||||||
Goodwill | 600 | |||||
Goodwill [Roll Forward] | ||||||
Ending balance | 600 | |||||
Business Unit Held-for-Sale | Xandr | WarnerMedia | ||||||
Goodwill [Line Items] | ||||||
Goodwill | 400 | |||||
Goodwill [Roll Forward] | ||||||
Ending balance | $ 400 | |||||
Video | Communications | ||||||
Goodwill [Line Items] | ||||||
Long-lived asset impairment | 7,255 | |||||
Goodwill impairment | 8,253 | |||||
Goodwill [Roll Forward] | ||||||
Impairments | (8,253) | |||||
Consumer Wireline | Communications | ||||||
Goodwill [Line Items] | ||||||
Goodwill impairment | 0 | |||||
Goodwill [Roll Forward] | ||||||
Impairments | $ 0 | |||||
Vrio | Latin America | Latin America | ||||||
Goodwill [Line Items] | ||||||
Goodwill impairment | $ 2,212 | |||||
Goodwill [Roll Forward] | ||||||
Impairments | (2,212) | |||||
Vrio | Latin America | Latin America | Noncontrolling Interest | ||||||
Goodwill [Line Items] | ||||||
Goodwill impairment | 105 | |||||
Goodwill [Roll Forward] | ||||||
Impairments | $ (105) |
Goodwill And Other Intangible_4
Goodwill And Other Intangible Assets (Schedule Of Amortized Intangible Assets) (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Finite-Lived Intangible Assets [Line Items] | ||
Weighted-Average Life | 24 years 7 months 6 days | |
Gross Carrying Amount | $ 62,826 | $ 73,585 |
Accumulated Amortization | 19,523 | 16,910 |
Currency Translation Adjustment | $ (545) | (1,328) |
Wireless Licenses | ||
Finite-Lived Intangible Assets [Line Items] | ||
Weighted-Average Life | 21 years 7 months 6 days | |
Gross Carrying Amount | $ 3,083 | 2,979 |
Accumulated Amortization | 307 | 271 |
Currency Translation Adjustment | $ (440) | (421) |
Orbital Slots | ||
Finite-Lived Intangible Assets [Line Items] | ||
Weighted-Average Life | 15 years | |
Gross Carrying Amount | $ 0 | 5,825 |
Accumulated Amortization | 0 | 0 |
Currency Translation Adjustment | $ 0 | 0 |
Trademarks and trade names | ||
Finite-Lived Intangible Assets [Line Items] | ||
Weighted-Average Life | 38 years 3 months 18 days | |
Gross Carrying Amount | $ 18,781 | 20,016 |
Accumulated Amortization | 2,077 | 1,518 |
Currency Translation Adjustment | $ (7) | (442) |
Distribution network | ||
Finite-Lived Intangible Assets [Line Items] | ||
Weighted-Average Life | 10 years | |
Gross Carrying Amount | $ 18,399 | 18,414 |
Accumulated Amortization | 6,457 | 4,621 |
Currency Translation Adjustment | $ 0 | 0 |
Released television and film content | ||
Finite-Lived Intangible Assets [Line Items] | ||
Weighted-Average Life | 17 years 9 months 18 days | |
Gross Carrying Amount | $ 10,939 | 10,940 |
Accumulated Amortization | 6,978 | 6,240 |
Currency Translation Adjustment | $ 0 | 0 |
Customer lists and relationships | ||
Finite-Lived Intangible Assets [Line Items] | ||
Weighted-Average Life | 11 years 2 months 12 days | |
Gross Carrying Amount | $ 637 | 4,100 |
Accumulated Amortization | 483 | 1,645 |
Currency Translation Adjustment | $ (98) | (460) |
Other | ||
Finite-Lived Intangible Assets [Line Items] | ||
Weighted-Average Life | 22 years 3 months 18 days | |
Gross Carrying Amount | $ 10,987 | 11,311 |
Accumulated Amortization | 3,221 | 2,615 |
Currency Translation Adjustment | $ 0 | $ (5) |
Goodwill And Other Intangible_5
Goodwill And Other Intangible Assets (Schedule Of Indefinite-Life Intangible Assets Not Subject To Amortization) (Details) - USD ($) $ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Indefinite-lived Intangible Assets [Line Items] | ||
Total | $ 116,735 | $ 90,969 |
Wireless Licenses | ||
Indefinite-lived Intangible Assets [Line Items] | ||
Total | 111,494 | 85,728 |
Trade names | ||
Indefinite-lived Intangible Assets [Line Items] | ||
Total | $ 5,241 | $ 5,241 |
Goodwill and Other Intangible_6
Goodwill and Other Intangible Assets (Schedule of Amortized Intangible Expenses) (Details) $ in Millions | Dec. 31, 2021USD ($) |
Finite-Lived Intangible Assets [Line Items] | |
Estimated amortization expense in 2022 | $ 3,907 |
Estimated amortization expense in 2023 | 3,895 |
Estimated amortization expense in 2024 | 3,524 |
Estimated amortization expense in 2025 | 3,394 |
Estimated amortization expense in 2026 | 3,309 |
WarnerMedia | |
Finite-Lived Intangible Assets [Line Items] | |
Estimated amortization expense in 2022 | 3,747 |
Estimated amortization expense in 2023 | 3,741 |
Estimated amortization expense in 2024 | 3,377 |
Estimated amortization expense in 2025 | 3,258 |
Estimated amortization expense in 2026 | $ 3,174 |
Goodwill And Other Intangible_7
Goodwill And Other Intangible Assets (Narrative) (Details) - USD ($) $ in Millions | Jan. 01, 2021 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Finite-Lived Intangible Assets [Line Items] | ||||
Amortization expense for definite-life intangible assets | $ 4,288 | $ 8,239 | $ 7,932 | |
Goodwill impairment | 10,465 | |||
Estimated economic useful life | 24 years 7 months 6 days | |||
WarnerMedia | ||||
Finite-Lived Intangible Assets [Line Items] | ||||
Goodwill impairment | $ 0 | 0 | ||
Latin America | ||||
Finite-Lived Intangible Assets [Line Items] | ||||
Goodwill impairment | $ 2,212 | |||
Orbital Slots | ||||
Finite-Lived Intangible Assets [Line Items] | ||||
Estimated economic useful life | 15 years | |||
Orbital Slots | Video Business Unit | ||||
Finite-Lived Intangible Assets [Line Items] | ||||
Intangible assets disposed | $ 5,798 | |||
Customer lists and relationships | ||||
Finite-Lived Intangible Assets [Line Items] | ||||
Estimated economic useful life | 11 years 2 months 12 days | |||
Customer lists and relationships | Video Business Unit | ||||
Finite-Lived Intangible Assets [Line Items] | ||||
Intangible assets disposed | $ 1,585 | |||
Customer lists and relationships | Latin America | Vrio | ||||
Finite-Lived Intangible Assets [Line Items] | ||||
Asset Impairment Charges | $ 241 | |||
Wireless Licenses | ||||
Finite-Lived Intangible Assets [Line Items] | ||||
Estimated economic useful life | 21 years 7 months 6 days | |||
Wireless Licenses | Latin America | Vrio | ||||
Finite-Lived Intangible Assets [Line Items] | ||||
Asset Impairment Charges | $ 89 | |||
Trade names | Latin America | Vrio | ||||
Finite-Lived Intangible Assets [Line Items] | ||||
Asset Impairment Charges | $ 632 |
Equity Method Investments (Narr
Equity Method Investments (Narrative) (Details) - USD ($) $ in Millions | Jul. 31, 2021 | Dec. 31, 2021 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Sep. 30, 2021 |
Schedule of Equity Method Investments [Line Items] | ||||||
Equity in net income of affiliates | $ 631 | $ 95 | $ 6 | |||
Distributions from equity method investment | 815 | 133 | ||||
Investments in Equity Method Investees | $ 7,274 | $ 7,274 | 1,780 | $ 3,695 | ||
SKY Mexico | Equity Method Investments | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Economic interest in common units | 41.30% | 41.30% | ||||
The CW | Equity Method Investments | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Economic interest in common units | 50.00% | 50.00% | ||||
DIRECTV | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Preferred interest in newly formed company | $ 1,800 | $ 1,800 | ||||
Interest in newly formed company, additional distribution preference | $ 4,200 | $ 4,200 | $ 4,200 | |||
Economic interest in common units held after disposal of business unit | 70.00% | 70.00% | ||||
Distributions from equity method investment | $ 1,323 | $ 0 | ||||
Equity Method Investments, Fair Value Disclosure | $ 6,852 | |||||
DIRECTV | Equity Method Investee [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Equity in net income of affiliates | 619 | 619 | ||||
Distributions from equity method investment | 1,942 | 1,942 | ||||
Investments in Equity Method Investees | 5,539 | 5,539 | ||||
DIRECTV | Junior Preferred Interests | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Preferred interest in newly formed company | $ 4,250 | 4,250 | 4,250 | |||
Interest in newly formed company, additional distribution preference | $ 3,212 | $ 3,212 | ||||
DIRECTV | TPG Capital | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Economic interest in common units | 30.00% | 30.00% | 30.00% | |||
DIRECTV | TPG Capital | Senior Preferred Interests | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Preferred interest in newly formed company | $ 1,800 | $ 1,800 | $ 1,800 | |||
Distributions from equity method investment | $ 1,800 |
Equity Method Investments (Reco
Equity Method Investments (Reconciliation Of Investments In Equity Affiliates) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Equity Method Investments [Roll Forward] | |||
Beginning of year | $ 1,780 | $ 3,695 | |
Additional investments | 265 | 178 | |
Disposition of investments | (68) | 0 | |
Equity in net income of affiliates | 631 | 95 | $ 6 |
Dividends and distributions of cumulative earnings received | (815) | (133) | |
Impairments | 0 | (146) | |
Currency translation adjustments | (16) | (10) | |
Other adjustments | (6) | 13 | |
End of year | 7,274 | 1,780 | $ 3,695 |
DIRECTV | |||
Equity Method Investments [Roll Forward] | |||
Receipt or Acquisition of Equity Interest | (6,852) | 0 | |
Dividends and distributions of cumulative earnings received | (1,323) | 0 | |
HBO LAG | |||
Equity Method Investments [Roll Forward] | |||
Receipt or Acquisition of Equity Interest | 0 | (1,141) | |
CME | |||
Equity Method Investments [Roll Forward] | |||
Disposition of investments | 0 | (749) | |
Other Capital Distributions | |||
Equity Method Investments [Roll Forward] | |||
Dividends and distributions of cumulative earnings received | $ (26) | $ (22) |
Inventories And Theatrical Fi_3
Inventories And Theatrical Film And Television Production Costs (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended |
Dec. 31, 2020 | Dec. 31, 2021 | |
Finite-Lived Intangible Assets [Line Items] | ||
Other current assets | $ (18,358) | $ (17,793) |
Theatrical film production costs: | ||
Released, less amortization | 487 | 525 |
Completed and not released | 616 | 343 |
In production | 1,130 | 1,687 |
Development and pre-production | 190 | 143 |
Television production costs: | ||
Released, less amortization | 2,495 | 3,335 |
Completed and not released | 1,381 | 1,350 |
In production | 2,353 | 4,376 |
Development and pre-production | 90 | 123 |
Total theatrical film and television production costs | 8,742 | 11,882 |
Total noncurrent inventories and theatrical film and television production costs | 14,752 | 18,983 |
COVID-19 Pandemic | ||
Unusual or Infrequent Item, or Both [Line Items] | ||
Impairment based on change in estimates for various film titles | 524 | |
Total inventories | ||
Inventories: | ||
Total inventories | 6,113 | 7,235 |
Less: current portion of inventory | (103) | (134) |
Total noncurrent inventories | 6,010 | 7,101 |
Programming costs, less amortization | ||
Inventories: | ||
Total inventories | 6,010 | 7,101 |
Other inventory, primarily DVD and Blu-ray Discs | ||
Inventories: | ||
Total inventories | 103 | 134 |
Film and Television Libraries | ||
Finite-Lived Intangible Assets [Line Items] | ||
Intangible assets subject to amortization, net | $ 4,699 | $ 3,961 |
Percentage of unamortized film costs | 89.00% | |
Amortization period for unamortized film costs | 3 years | |
Film costs, amortized in next operating cycle | $ 3,464 |
Debt (Summary Of Long-Term Debt
Debt (Summary Of Long-Term Debt Of AT&T And Its Subsidiaries) (Details) - USD ($) $ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Debt Instrument [Line Items] | ||
Carrying amount of notes and debentures | $ 179,265 | $ 165,451 |
Unamortized (discount) premium – net | (9,610) | (9,710) |
Unamortized issuance costs | (508) | (532) |
Total notes and debentures | 169,147 | 155,209 |
Finance lease obligations | 1,621 | 2,036 |
Total long-term debt, including current maturities | 170,768 | 157,245 |
Current maturities of long-term debt | (7,944) | (3,470) |
Current maturities of credit agreement borrowings | (10,100) | 0 |
Total long-term debt | 152,724 | 153,775 |
Credit agreement borrowings | ||
Debt Instrument [Line Items] | ||
Carrying amount of notes and debentures | 10,400 | 300 |
Fair value of interest rate swaps recorded in debt | ||
Debt Instrument [Line Items] | ||
Carrying amount of notes and debentures | 16 | 20 |
Notes And Debentures Maturing 2021-2039 | Notes and debentures | ||
Debt Instrument [Line Items] | ||
Carrying amount of notes and debentures | $ 31,841 | 25,549 |
Notes And Debentures Maturing 2021-2039 | Notes and debentures | Minimum | ||
Debt Instrument [Line Items] | ||
Debt instrument - stated percentage rate | 0.69% | |
Notes And Debentures Maturing 2021-2039 | Notes and debentures | Maximum | ||
Debt Instrument [Line Items] | ||
Debt instrument - stated percentage rate | 2.99% | |
Notes And Debentures Maturing 2021-2061 | Notes and debentures | ||
Debt Instrument [Line Items] | ||
Carrying amount of notes and debentures | $ 108,003 | 110,317 |
Notes And Debentures Maturing 2021-2061 | Notes and debentures | Minimum | ||
Debt Instrument [Line Items] | ||
Debt instrument - stated percentage rate | 3.00% | |
Notes And Debentures Maturing 2021-2061 | Notes and debentures | Maximum | ||
Debt Instrument [Line Items] | ||
Debt instrument - stated percentage rate | 4.99% | |
Notes And Debentures Maturing 2021-2095 | Notes and debentures | ||
Debt Instrument [Line Items] | ||
Carrying amount of notes and debentures | $ 23,360 | 24,259 |
Notes And Debentures Maturing 2021-2095 | Notes and debentures | Minimum | ||
Debt Instrument [Line Items] | ||
Debt instrument - stated percentage rate | 5.00% | |
Notes And Debentures Maturing 2021-2095 | Notes and debentures | Maximum | ||
Debt Instrument [Line Items] | ||
Debt instrument - stated percentage rate | 6.99% | |
Notes And Debentures Maturing 2021-2097 | Notes and debentures | ||
Debt Instrument [Line Items] | ||
Carrying amount of notes and debentures | $ 5,645 | $ 5,006 |
Notes And Debentures Maturing 2021-2097 | Notes and debentures | Minimum | ||
Debt Instrument [Line Items] | ||
Debt instrument - stated percentage rate | 7.00% | |
Notes And Debentures Maturing 2021-2097 | Notes and debentures | Maximum | ||
Debt Instrument [Line Items] | ||
Debt instrument - stated percentage rate | 9.15% |
Debt (Debt Maturing Within One
Debt (Debt Maturing Within One Year) (Details) - USD ($) $ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Debt Disclosure [Abstract] | ||
Current maturities of long-term debt | $ 7,944 | $ 3,470 |
Commercial paper | 6,586 | 0 |
Bank borrowings | 10,100 | 0 |
Total | $ 24,630 | $ 3,470 |
Debt (Schedule of Debt Activity
Debt (Schedule of Debt Activity) (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |||||
Dec. 31, 2021 | Sep. 30, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Debt Transactions [Line Items] | |||||||
Net commercial paper borrowings | $ 4 | $ (2) | $ (513) | $ 7,072 | $ 6,561 | ||
Issuance of Notes and Debentures: | |||||||
Issuances of Notes and Debentures | 9,931 | $ 31,988 | $ 17,039 | ||||
Private financing | 0 | 0 | 0 | 750 | 750 | ||
Other | 0 | 835 | 0 | 636 | 1,471 | ||
Debt Issuances | 0 | 835 | 0 | 18,197 | 19,032 | ||
Repayments: | |||||||
Private financing | 0 | 0 | 0 | (649) | (649) | ||
Other | (140) | (498) | (253) | (253) | (1,144) | ||
Repayments of long-term debt | (1,489) | (498) | (253) | (902) | (3,142) | $ (39,964) | $ (27,592) |
U.S. Dollar Denominated Global Notes | |||||||
Issuance of Notes and Debentures: | |||||||
Issuances of Notes and Debentures | $ 0 | 0 | 0 | 6,000 | $ 6,000 | ||
Initial average rate | 1.27% | 1.27% | |||||
Euro Denominated Global Notes | |||||||
Issuance of Notes and Debentures: | |||||||
Issuances of Notes and Debentures | $ 0 | 0 | 0 | 1,461 | $ 1,461 | ||
Rate | 0.00% | 0.00% | |||||
Repayments: | |||||||
2.650% Euro denominated global notes due 2021 | $ (1,349) | 0 | 0 | 0 | $ (1,349) | ||
2021 Syndicated Term Loan | |||||||
Issuance of Notes and Debentures: | |||||||
Term Loan Credit Agreement / BAML term loan | 0 | 0 | 0 | 7,350 | 7,350 | ||
BAML Bilateral Term Loan | |||||||
Issuance of Notes and Debentures: | |||||||
Term Loan Credit Agreement / BAML term loan | $ 0 | $ 0 | $ 0 | $ 2,000 | $ 2,000 |
Debt (Narrative) (Details)
Debt (Narrative) (Details) - USD ($) $ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Debt Instrument [Line Items] | ||
Outstanding debt | $ 179,265 | $ 165,451 |
Weighted-average interest rate | 3.80% | 4.10% |
Debt Issued in Foreign Markets | ||
Debt Instrument [Line Items] | ||
Outstanding debt | $ 41,249 | $ 43,399 |
Debt (Financing Activities) (Na
Debt (Financing Activities) (Narrative) (Details) - USD ($) $ in Millions | 1 Months Ended | 3 Months Ended | 12 Months Ended | |||||||
Dec. 31, 2020 | Sep. 30, 2020 | Aug. 31, 2020 | Dec. 31, 2021 | Sep. 30, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Debt Instrument [Line Items] | ||||||||||
Issuance of commercial paper maturing in three months or less | $ 1,316 | |||||||||
Issuance of commercial paper maturing more than 90 days | 12,755 | |||||||||
Repayments of commercial paper maturing more than 90 days | 7,510 | |||||||||
Issuances of Notes and Debentures | 9,931 | $ 31,988 | $ 17,039 | |||||||
Current maturities of credit agreement borrowings | $ 0 | $ 10,100 | $ 10,100 | 0 | ||||||
Weighted maturity period | 2 years 3 months 18 days | |||||||||
Weighted average coupon | 1.40% | |||||||||
Repayments of Long-term Debt | $ 1,489 | $ 498 | $ 253 | $ 902 | $ 3,142 | $ 39,964 | $ 27,592 | |||
Weighted-average interest rate | 4.10% | 3.80% | 3.80% | 4.10% | ||||||
Various Notes | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Issuances of Notes and Debentures | $ 8,931 | |||||||||
Debt Instrument - principal/face amount | $ 8,949 | $ 8,949 | ||||||||
Weighted average coupon | 3.50% | |||||||||
Amount of borrowings repaid / debt exchanged | $ 2,904 | |||||||||
AT&T Global Notes and Subsidiary Notes due 2021 to 2025 | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Repayments of Long-term Debt | $ 11,384 | |||||||||
AT&T and Subsidiary Notes | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Amount of borrowings repaid / debt exchanged | $ 17,677 | |||||||||
Repayments of Long-term Debt | 1,459 | |||||||||
Three New Series of AT&T Global Notes due 2053 to 2059 | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Issuances of Notes and Debentures | $ 21,500 | |||||||||
AT&T and Subsidiary Notes due 2026 to 2048 | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Amount of borrowings repaid / debt exchanged | $ 8,280 | |||||||||
Repayments of Long-term Debt | 8 | |||||||||
Two New Series of Global Notes due 2033 to 2057 | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Issuances of Notes and Debentures | $ 9,678 | |||||||||
Minimum | AT&T and Subsidiary Notes | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Weighted-average interest rate | 4.35% | |||||||||
Minimum | Three New Series of AT&T Global Notes due 2053 to 2059 | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Weighted-average interest rate | 3.50% | |||||||||
Minimum | AT&T and Subsidiary Notes due 2026 to 2048 | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Weighted-average interest rate | 2.95% | 2.95% | ||||||||
Minimum | Two New Series of Global Notes due 2033 to 2057 | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Weighted-average interest rate | 2.55% | 2.55% | ||||||||
Maximum | AT&T and Subsidiary Notes | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Weighted-average interest rate | 8.75% | |||||||||
Maximum | Three New Series of AT&T Global Notes due 2053 to 2059 | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Weighted-average interest rate | 3.65% | |||||||||
Maximum | AT&T and Subsidiary Notes due 2026 to 2048 | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Weighted-average interest rate | 7.125% | 7.125% | ||||||||
Maximum | Two New Series of Global Notes due 2033 to 2057 | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Weighted-average interest rate | 3.80% | 3.80% |
Debt (Long-Term Debt - Schedule
Debt (Long-Term Debt - Scheduled Repayments) (Details) $ in Millions | 12 Months Ended |
Dec. 31, 2021USD ($) | |
Debt repayments | |
2022 | $ 18,185 |
2023 | 7,739 |
2024 | 11,562 |
2025 | 6,484 |
2026 | 10,557 |
Thereafter | $ 126,922 |
Weighted-average interest rate 2 | |
2022 | 1.90% |
2023 | 3.40% |
2024 | 2.90% |
2025 | 3.90% |
2026 | 3.30% |
Thereafter | 4.20% |
Debt (Credit Facilities) (Narra
Debt (Credit Facilities) (Narrative) (Details) $ in Millions | 3 Months Ended | 12 Months Ended | ||||||||
Dec. 31, 2021USD ($) | Sep. 30, 2021USD ($) | Jun. 30, 2021USD ($) | Mar. 31, 2021USD ($) | Dec. 31, 2021USD ($)renewal_optionRate | Mar. 23, 2021USD ($) | Jan. 29, 2021USD ($) | Dec. 31, 2020USD ($) | Nov. 30, 2020USD ($) | Apr. 30, 2020USD ($) | |
Line of Credit Facility [Line Items] | ||||||||||
Commercial paper | $ 6,586 | $ 6,586 | $ 0 | |||||||
Minimum percentage of facility commitments required for lender involvement in option to extend commitments | 50.00% | |||||||||
Number of extension options | renewal_option | 2 | |||||||||
Term of each optional extension period | 1 year | |||||||||
Financial Ratio Covenants through June 30, 2023 | ||||||||||
Line of Credit Facility [Line Items] | ||||||||||
Maximum net debt-to-EBITDA financial ratio covenant | Rate | 400.00% | |||||||||
Financial Ratio Covenants Thereafter June 30, 2023 | ||||||||||
Line of Credit Facility [Line Items] | ||||||||||
Maximum net debt-to-EBITDA financial ratio covenant | Rate | 350.00% | |||||||||
High Credit Rating | ||||||||||
Line of Credit Facility [Line Items] | ||||||||||
Credit agreement - commitment fee percentage | 0.07% | |||||||||
Moderate Credit Rating | ||||||||||
Line of Credit Facility [Line Items] | ||||||||||
Credit agreement - commitment fee percentage | 0.08% | |||||||||
Low Credit Rating | ||||||||||
Line of Credit Facility [Line Items] | ||||||||||
Credit agreement - commitment fee percentage | 0.10% | |||||||||
Very Low Credit Rating | ||||||||||
Line of Credit Facility [Line Items] | ||||||||||
Credit agreement - commitment fee percentage | 0.125% | |||||||||
Federal Funds Rate | ||||||||||
Line of Credit Facility [Line Items] | ||||||||||
Credit agreement - basis spread of variable rate | 0.50% | |||||||||
LIBOR | ||||||||||
Line of Credit Facility [Line Items] | ||||||||||
Credit agreement - basis spread of variable rate | 1.00% | |||||||||
Additional Margin Upon Default | ||||||||||
Line of Credit Facility [Line Items] | ||||||||||
Credit agreement - basis spread of variable rate | 2.00% | |||||||||
2021 Syndicated Term Loan | ||||||||||
Line of Credit Facility [Line Items] | ||||||||||
Proceeds from Lines of Credit | 0 | $ 0 | $ 0 | $ 7,350 | $ 7,350 | |||||
BAML Bilateral Term Loan | ||||||||||
Line of Credit Facility [Line Items] | ||||||||||
Proceeds from Lines of Credit | 0 | $ 0 | $ 0 | 2,000 | 2,000 | |||||
Term Loan Credit Agreement | April 2020 Term Loan | 11 Commercial Banks And Bank of America, N.A. | ||||||||||
Line of Credit Facility [Line Items] | ||||||||||
Credit agreement - maximum borrowing capacity | $ 5,500 | |||||||||
Term Loan Credit Agreement | 2021 Syndicated Term Loan | Bank of America, N.A. | ||||||||||
Line of Credit Facility [Line Items] | ||||||||||
Credit agreement - maximum borrowing capacity | $ 14,700 | |||||||||
Proceeds from Lines of Credit | 7,350 | |||||||||
Credit agreement - advances outstanding | 7,350 | 7,350 | ||||||||
Termination Loans | $ 7,350 | |||||||||
Term Loan Credit Agreement | BAML Bilateral Term Loan | Bank of America, N.A. | ||||||||||
Line of Credit Facility [Line Items] | ||||||||||
Proceeds from Lines of Credit | 2,000 | |||||||||
Credit agreement - advances outstanding | 2,000 | 2,000 | ||||||||
Term Loan Credit Agreement | BAML Trach A Facility [Member] | Bank of America, N.A. | ||||||||||
Line of Credit Facility [Line Items] | ||||||||||
Proceeds from Lines of Credit | 1,000 | |||||||||
Term Loan Credit Agreement | BAML Trach B Facility [Member] | Bank of America, N.A. | ||||||||||
Line of Credit Facility [Line Items] | ||||||||||
Proceeds from Lines of Credit | $ 1,000 | |||||||||
Revolving Credit Facility | ||||||||||
Line of Credit Facility [Line Items] | ||||||||||
Credit agreement - maximum borrowing capacity | $ 15,000 | |||||||||
Credit agreement - advances outstanding | $ 0 | $ 0 | ||||||||
Revolving Credit Facility | Credit Agreement One, Amended Credit Agreement | ||||||||||
Line of Credit Facility [Line Items] | ||||||||||
Credit agreement - maximum borrowing capacity | 7,500 | |||||||||
Revolving Credit Facility | Credit Agreement Two | ||||||||||
Line of Credit Facility [Line Items] | ||||||||||
Credit agreement - maximum borrowing capacity | $ 7,500 |
Fair Value Measurements And D_3
Fair Value Measurements And Disclosure (Long-Term Debt And Other Financial Instruments) (Details) - USD ($) $ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Commercial Paper | $ 6,586 | $ 0 |
Carrying Amount | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Notes and debentures | 169,147 | 155,209 |
Commercial Paper | 6,586 | 0 |
Investment securities | 3,374 | 3,249 |
Fair Value | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Notes and debentures | 194,891 | 187,224 |
Commercial Paper | 6,586 | 0 |
Investment securities | $ 3,374 | $ 3,249 |
Fair Value Measurements And D_4
Fair Value Measurements And Disclosure (Fair Value Leveling) (Details) - USD ($) $ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-Sale Debt Securities | $ 1,384 | $ 1,479 |
Cross-currency swaps | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Asset Derivatives | 211 | 1,721 |
Liability Derivatives | (3,170) | (1,814) |
Foreign exchange contracts | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Asset Derivatives | 8 | 6 |
Liability Derivatives | (41) | (9) |
Fixed income equities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity Securities | 230 | 236 |
Domestic equities | Securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity Securities | 1,256 | 1,010 |
International equities | Securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity Securities | 227 | 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 | 230 | 236 |
Level 1 | Domestic equities | Securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity Securities | 1,256 | 1,010 |
Level 1 | International equities | Securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity Securities | 227 | 180 |
Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-Sale Debt Securities | 1,384 | 1,479 |
Level 2 | Cross-currency swaps | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Asset Derivatives | 211 | 1,721 |
Liability Derivatives | (3,170) | (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 | (41) | (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 | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Fair Value Disclosures [Abstract] | |||
Total gains (losses) recognized on equity securities | $ 293 | $ 171 | $ 301 |
Gains (Losses) recognized on equity securities sold | (5) | (25) | 100 |
Unrealized gains (losses) recognized on equity securities held at end of period | $ 298 | $ 196 | $ 201 |
Fair Value Measurements And D_6
Fair Value Measurements And Disclosure (Narrative) (Details) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021USD ($) | Dec. 31, 2021EUR (€) | Dec. 31, 2020USD ($) | |
Fair Value Disclosures [Abstract] | |||
Available-for-sale debt securities | $ 1,384 | $ 1,479 | |
Available-for-sale debt securities - maturities less than 1 year | 41 | ||
Available-for-sale debt securities - maturities within 1 to 3 years | 171 | ||
Available-for-sale debt securities - maturities within 3 to 5 years | 179 | ||
Available-for-sale debt securities - maturities for 5 or more years | 993 | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | |||
Anticipated reclassification of holding losses during the next 12 months - cash flow hedges | 73 | ||
Net gains on net investment hedges recognized in accumulated OCI | 122 | ||
Collateral submitted to counterparty | 135 | 53 | |
Collateral received from counterparty | 7 | 694 | |
Collateral contingently payable to the counterparty | 36 | ||
Communications | Video | Nonrecurring Fair Value Measurements | |||
Fair Value, Option, Quantitative Disclosures [Line Items] | |||
Nonrecurring fair value measurements | 9,744 | ||
Property, plant, and equipment, fair value measurements | 2,258 | ||
Communications | Video | Nonrecurring Fair Value Measurements | Orbital Slots | |||
Fair Value, Option, Quantitative Disclosures [Line Items] | |||
Finite-lived intangible assets, fair value measurements | 5,873 | ||
Communications | Video | Nonrecurring Fair Value Measurements | Customer lists | |||
Fair Value, Option, Quantitative Disclosures [Line Items] | |||
Finite-lived intangible assets, fair value measurements | 1,613 | ||
WarnerMedia | Warner Bros. [Member] | Nonrecurring Fair Value Measurements | |||
Fair Value, Option, Quantitative Disclosures [Line Items] | |||
Film costs, fair value measurements | $ 844 | ||
Measurement Input, Entity Credit Risk | |||
Fair Value, Option, Quantitative Disclosures [Line Items] | |||
Collateral contingently payable to the counterparty | $ 2,816 | ||
Net Investment Hedging | |||
Fair Value, Option, Quantitative Disclosures [Line Items] | |||
Aggregate principal amount of debt | € | € 1,450,000,000 |
Fair Value Measurements And D_7
Fair Value Measurements And Disclosure (Notional Amount Of Our Outstanding Derivative Positions) (Details) - USD ($) $ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Derivative [Line Items] | ||
Notional amounts of outstanding derivative positions | $ 40,767 | $ 40,835 |
Cross-currency swaps | ||
Derivative [Line Items] | ||
Notional amounts of outstanding derivative positions | 40,737 | 40,745 |
Foreign exchange contracts | ||
Derivative [Line Items] | ||
Notional amounts of outstanding derivative positions | $ 30 | $ 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 | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Interest rate swaps | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Gain (Loss) on swaps | $ (4) | $ (6) | $ 58 |
Gain (Loss) on long-term debt | 4 | 6 | (58) |
Cross-currency swaps | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Gain (Loss) on swaps | (91) | 0 | 0 |
Gain (Loss) on long-term debt | 91 | 0 | 0 |
Gain (Loss) recognized in accumulated OCI | (17) | 0 | 0 |
Gain (Loss) recognized in accumulated OCI | (873) | (378) | (1,066) |
Foreign exchange contracts | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Gain (Loss) recognized in accumulated OCI | (17) | 3 | 10 |
Foreign exchange contracts | Other income (expense) - net | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Amount reclassified from accumulated OCI into income | 1 | (3) | 6 |
Interest rate locks | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Gain (Loss) recognized in accumulated OCI | 0 | (648) | (84) |
Interest rate locks | Interest income (expense) | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Amount reclassified from accumulated OCI into income | $ (92) | $ (84) | $ (63) |
Income Taxes (Components Of Def
Income Taxes (Components Of Deferred Tax Liabilities (Assets)) (Details) - USD ($) $ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Income Tax Disclosure [Abstract] | ||
Depreciation and amortization | $ 47,433 | $ 46,952 |
Licenses and nonamortizable intangibles | 15,576 | 13,930 |
Employee benefits | (3,338) | (5,279) |
Deferred fulfillment costs | 1,797 | 2,691 |
Equity in partnership | 3,285 | 0 |
Net operating loss and other carryforwards | (6,703) | (7,355) |
Other – net | 2,308 | 4,562 |
Subtotal | 60,358 | 55,501 |
Deferred tax assets valuation allowance | 4,638 | 4,773 |
Net deferred tax liabilities | 64,996 | 60,274 |
Noncurrent deferred tax liabilities | 65,226 | 60,472 |
Less: Noncurrent deferred tax assets | $ (230) | $ (198) |
Income Taxes (Narrative) (Detai
Income Taxes (Narrative) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Operating Loss Carryforwards [Line Items] | |||
Net operating and capital loss carryforwards (tax effected) for federal income tax purposes | $ 452 | ||
Net operating and capital loss carryforwards (tax effected) for state income tax purposes | 1,012 | ||
Net operating and capital loss carryforwards (tax effected) for foreign income tax purposes | 2,709 | ||
Amount of deposits that reduced UTB balance | 377 | $ 702 | |
Accrued interest and penalties included in unrecognized tax benefits balance at year end | 2,221 | 2,450 | |
Net interest and penalty expense included in income tax expense | (155) | $ 149 | $ 267 |
Federal | |||
Operating Loss Carryforwards [Line Items] | |||
Tax credit carryforwards | 604 | ||
State | |||
Operating Loss Carryforwards [Line Items] | |||
Tax credit carryforwards | $ 1,926 |
Income Taxes (Changes In Unreco
Income Taxes (Changes In Unrecognized Tax Benefits Balance For Federal State And Foreign Tax) (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | ||
Balance at beginning of year | $ 10,001 | $ 10,979 |
Increases for tax positions related to the current year | 677 | 1,580 |
Increases for tax positions related to prior years | 443 | 112 |
Decreases for tax positions related to prior years | (1,344) | (994) |
Lapse of statute of limitations | (29) | (24) |
Settlements | (342) | (1,646) |
Current year dispositions | (4) | 0 |
Foreign currency effects | 0 | (6) |
Balance at end of year | 9,402 | 10,001 |
Accrued interest and penalties | 2,221 | 2,450 |
Gross unrecognized income tax benefits | 11,623 | 12,451 |
Less: Deferred federal and state income tax benefits | (799) | (878) |
Less: Tax attributable to timing items included above | (3,515) | (3,588) |
Total UTB that, if recognized, would impact the effective income tax rate as of the end of the year | $ 7,309 | $ 7,985 |
Income Taxes (Components of Inc
Income Taxes (Components of Income Tax Expense (Benefit)) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Federal: | |||
Current | $ (1,198) | $ (687) | $ 584 |
Deferred | 5,296 | 1,039 | 1,656 |
Total federal income tax | 4,098 | 352 | 2,240 |
State and local: | |||
Current | 646 | (6) | 603 |
Deferred | 456 | 263 | 144 |
Total state and local income tax | 1,102 | 257 | 747 |
Foreign: | |||
Current | 516 | 413 | 605 |
Deferred | (248) | (57) | (99) |
Total foreign income tax | 268 | 356 | 506 |
Total | $ 5,468 | $ 965 | $ 3,493 |
Income Taxes (Schedule of Incom
Income Taxes (Schedule of Income before Income Tax, Domestic and Foreign) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Income Tax Disclosure [Abstract] | |||
U.S. income (loss) before income taxes | $ 30,223 | $ (452) | $ 18,301 |
Foreign income (loss) before income taxes | (3,276) | (2,404) | 167 |
Income (Loss) Before Income Taxes | $ 26,947 | $ (2,856) | $ 18,468 |
Income Taxes (Reconciliation Of
Income Taxes (Reconciliation Of Income Tax Expense (Benefit) Based On Federal Statutory Rate To Amount Per Effective Tax Rate) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Income Tax Disclosure [Abstract] | |||
Taxes computed at federal statutory rate | $ 5,659 | $ (600) | $ 3,878 |
Increases (decreases) in income taxes resulting from: | |||
State and local income taxes – net of federal income tax benefit | 967 | 193 | 611 |
CARES Act federal NOL carryback | (471) | 0 | 0 |
Tax on foreign investments | (68) | (141) | (115) |
Noncontrolling interest | (294) | (285) | (230) |
Permanent items and R&D credit | (163) | (239) | (285) |
Audit resolutions | (298) | (112) | (156) |
Divestitures | (112) | 107 | 0 |
Goodwill impairment | 250 | 2,120 | 0 |
Other – net | (2) | (78) | (210) |
Total | $ 5,468 | $ 965 | $ 3,493 |
Effective Tax Rate | 20.30% | (33.80%) | 18.90% |
Pension And Postretirement Be_3
Pension And Postretirement Benefits (Narrative) (Details) - USD ($) | 1 Months Ended | 12 Months Ended | ||||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Defined Benefit Plan Disclosure [Line Items] | ||||||
Combined net pension and postretirement cost | $ (7,652,000,000) | $ 711,000,000 | $ 2,762,000,000 | |||
Increase (decrease) in plan benefit obligations due to change in assumed rates | $ (3,848,000,000) | $ (2,992,000,000) | (2,002,000,000) | |||
Composite rate of compensation increase for determining benefit obligation | 3.00% | 3.00% | 3.00% | 3.00% | ||
Discretionary contributions to postretirement plan | $ 308,000,000 | $ 425,000,000 | ||||
Debt-financed shares held by ESOPs (allocated or unallocated) | 0 | $ 0 | ||||
Benefit cost of the contributory savings plans | 760,000,000 | $ 814,000,000 | 793,000,000 | |||
Forecast | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Increase (decrease) in plan benefit obligations due to change in assumed rates | $ 272,000,000 | |||||
Assumptions used, percentage change in weighted-average interest crediting rate that would impact pension benefit obligation | 0.50% | |||||
Pension Benefits | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Accumulated benefit obligation for pension plans | $ 56,159,000,000 | $ 60,848,000,000 | 56,159,000,000 | 60,848,000,000 | ||
Combined net pension and postretirement cost | $ (4,885,000,000) | $ 1,450,000,000 | $ 2,393,000,000 | |||
Discount rate for determining projected benefit obligation | 3.00% | 2.70% | 3.00% | 2.70% | 3.40% | |
Decrease in discount rate over prior year | 0.30% | 0.70% | ||||
Increase (decrease) in plan benefit obligations due to change in assumed rates | $ (1,645,000,000) | $ 5,594,000,000 | ||||
Long-term rate of return on plan assets | 6.75% | 7.00% | 7.00% | |||
Composite rate of compensation increase for determining benefit obligation | 3.00% | 3.00% | 3.00% | 3.00% | 3.00% | |
Preferred equity interest value | $ 54,401,000,000 | $ 54,606,000,000 | $ 54,401,000,000 | $ 54,606,000,000 | $ 53,530,000,000 | |
Aggregate percentage of the fair value of investments to the fair value of total plan assets held as of the measurement date | 11.00% | 11.00% | ||||
Pension Benefits | Level 3 | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Preferred equity interest value | $ 8,889,000,000 | 8,390,000,000 | $ 8,889,000,000 | 8,390,000,000 | 11,639,000,000 | |
Pension Benefits | Preferred interests | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Preferred equity interest value | 5,562,000,000 | 5,771,000,000 | 5,562,000,000 | 5,771,000,000 | ||
Preferred equity interest value held by pension trust | 5,771,000,000 | 5,771,000,000 | ||||
Pension Benefits | Preferred interests | Level 3 | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Preferred equity interest value | $ 5,562,000,000 | $ 5,771,000,000 | 5,562,000,000 | 5,771,000,000 | ||
Pension Benefits | Mobility II, LLC | Preferred interests | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Value of portion of preferred interest sold to third party investors | 2,885,000,000 | |||||
Pension Benefits | Forecast | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Long-term rate of return on plan assets | 6.75% | |||||
Postretirement Benefits | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Combined net pension and postretirement cost | $ (2,767,000,000) | $ (739,000,000) | $ 369,000,000 | |||
Discount rate for determining projected benefit obligation | 2.80% | 2.40% | 2.80% | 2.40% | 3.20% | |
Decrease in discount rate over prior year | 0.40% | 0.80% | ||||
Increase (decrease) in plan benefit obligations due to change in assumed rates | $ (341,000,000) | $ 1,311,000,000 | ||||
Long-term rate of return on plan assets | 4.50% | 4.75% | 5.75% | |||
Composite rate of compensation increase for determining benefit obligation | 3.00% | 3.00% | 3.00% | 3.00% | 3.00% | |
Preferred equity interest value | $ 3,198,000,000 | $ 3,843,000,000 | $ 3,198,000,000 | $ 3,843,000,000 | $ 4,145,000,000 | |
Postretirement Benefits | Level 3 | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Preferred equity interest value | $ 1,000,000 | $ 4,000,000 | $ 1,000,000 | 4,000,000 | 32,000,000 | |
Postretirement Benefits | Forecast | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Long-term rate of return on plan assets | 4.50% | |||||
Healthcare Benefits | Prescription Drug Cost - Eligible Participants | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Increase (decrease) in plan benefit obligations due to change in assumed rates | $ 31,000,000 | |||||
Assumed annual and ultimate health care cost trend rate for next fiscal year | 4.00% | 4.00% | ||||
Estimated annual growth rate for health care cost | 4.25% | 4.00% | 4.25% | 4.00% | ||
Healthcare Benefits | Medical Cost - Eligible Participants | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Increase (decrease) in plan benefit obligations due to change in assumed rates | $ 31,000,000 | |||||
Assumed annual and ultimate health care cost trend rate for next fiscal year | 4.00% | 4.00% | ||||
Estimated annual growth rate for health care cost | 4.25% | 4.00% | 4.25% | 4.00% | ||
Supplemental Employee Retirement Plan | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Combined net pension and postretirement cost | $ 41,000,000 | $ 330,000,000 | ||||
Discount rate for determining projected benefit obligation | 2.70% | 2.30% | 2.70% | 2.30% | ||
Projected benefit obligation | $ 2,326,000,000 | $ 2,687,000,000 | $ 2,326,000,000 | $ 2,687,000,000 | ||
Deferred compensation expense | $ 171,000,000 | $ 183,000,000 | $ 199,000,000 |
Pension And Postretirement Be_4
Pension And Postretirement Benefits (Change In The Projected Benefit Obligation) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | |||
Actuarial (gain) loss | $ (4,140) | $ 4,169 | $ 5,171 |
Pension Benefits | |||
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | |||
Benefit obligation at beginning of year | 62,158 | 59,873 | |
Service cost - benefits earned during the period | 957 | 1,029 | 1,019 |
Interest cost on projected benefit obligation | 1,276 | 1,687 | 1,960 |
Amendments | 0 | (340) | |
Actuarial (gain) loss | (1,237) | 5,054 | |
Benefits paid, including settlements | (5,942) | (5,124) | |
Curtailment | 0 | (1) | |
Plan transfers | 0 | (20) | |
Benefit obligation at end of year | 57,212 | 62,158 | 59,873 |
Postretirement Benefits | |||
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | |||
Benefit obligation at beginning of year | 13,928 | 16,041 | |
Service cost - benefits earned during the period | 45 | 53 | 71 |
Interest cost on projected benefit obligation | 210 | 416 | 675 |
Amendments | 0 | (2,655) | |
Actuarial (gain) loss | (275) | 1,423 | |
Benefits paid, including settlements | (1,356) | (1,370) | |
Curtailment | 0 | 0 | |
Plan transfers | 0 | 20 | |
Benefit obligation at end of year | $ 12,552 | $ 13,928 | $ 16,041 |
Pension And Postretirement Be_5
Pension And Postretirement Benefits (Change In The Value Of Plan Assets And The Plans' Funded Status) (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Pension Benefits | ||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||
Fair value of plan assets at beginning of year | $ 54,606 | $ 53,530 |
Actual return on plan assets | 5,737 | 6,199 |
Benefits paid | (5,942) | (5,124) |
Contributions | 0 | 2 |
Plan transfers | 0 | (1) |
Fair value of plan assets at end of year | 54,401 | 54,606 |
Unfunded status at end of year | (2,811) | (7,552) |
Postretirement Benefits | ||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||
Fair value of plan assets at beginning of year | 3,843 | 4,145 |
Actual return on plan assets | 210 | 302 |
Benefits paid | (1,163) | (1,029) |
Contributions | 308 | 425 |
Plan transfers | 0 | 0 |
Fair value of plan assets at end of year | 3,198 | 3,843 |
Unfunded status at end of year | $ (9,354) | $ (10,085) |
Pension And Postretirement Be_6
Pension And Postretirement Benefits (Employee Benefit Obligation Amounts Recognized) (Details) - USD ($) $ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Defined Benefit Plan Disclosure [Line Items] | ||
Noncurrent portion of employee benefit obligation | $ 12,649 | $ 18,276 |
Pension Benefits | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Current portion of employee benefit obligation | 0 | 0 |
Employee benefit obligation | (2,811) | (7,552) |
Net amount recognized | (2,811) | (7,552) |
Pension Benefits | International | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Noncurrent portion of employee benefit obligation | 364 | 553 |
Postretirement Benefits | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Current portion of employee benefit obligation | (1,106) | (1,213) |
Employee benefit obligation | (8,248) | (8,872) |
Net amount recognized | (9,354) | (10,085) |
Postretirement Benefits | International | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Noncurrent portion of employee benefit obligation | $ 1,226 | $ 1,299 |
Pension And Postretirement Be_7
Pension And Postretirement Benefits (Net Periodic Benefit Cost (Credit)) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Defined Benefit Plan Disclosure [Line Items] | |||
Net pension and postretirement cost (credit) | $ (7,652) | $ 711 | $ 2,762 |
Pension Benefits | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Service cost – benefits earned during the period | 957 | 1,029 | 1,019 |
Interest cost on projected benefit obligation | 1,276 | 1,687 | 1,960 |
Expected return on assets | (3,513) | (3,557) | (3,561) |
Amortization of prior service credit | (144) | (113) | (113) |
Net periodic benefit cost (credit) before remeasurement | (1,424) | (954) | (695) |
Actuarial (gain) loss | (3,461) | 2,404 | 3,088 |
Net pension and postretirement cost (credit) | (4,885) | 1,450 | 2,393 |
Postretirement Benefits | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Service cost – benefits earned during the period | 45 | 53 | 71 |
Interest cost on projected benefit obligation | 210 | 416 | 675 |
Expected return on assets | (151) | (178) | (227) |
Amortization of prior service credit | (2,537) | (2,329) | (1,820) |
Net periodic benefit cost (credit) before remeasurement | (2,433) | (2,038) | (1,301) |
Actuarial (gain) loss | (334) | 1,299 | 1,670 |
Net pension and postretirement cost (credit) | $ (2,767) | $ (739) | $ 369 |
Pension And Postretirement Be_8
Pension And Postretirement Benefits (Other Changes Recognized in Other Comprehensive Income) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Accumulated Other Comprehensive (Income) Loss, Defined Benefit Plan, after Tax [Roll Forward] | |||
Prior service (cost) credit | $ (34) | $ 2,250 | $ 3,457 |
Amortization of prior service credit | (2,020) | (1,841) | (1,459) |
Pension Benefits | |||
Accumulated Other Comprehensive (Income) Loss, Defined Benefit Plan, after Tax [Roll Forward] | |||
Balance at beginning of year | 525 | 361 | 447 |
Prior service (cost) credit | 0 | 250 | 0 |
Amortization of prior service credit | (109) | (86) | (86) |
Total recognized in other comprehensive (income) loss | (109) | 164 | (86) |
Balance at end of year | 416 | 525 | 361 |
Postretirement Benefits | |||
Accumulated Other Comprehensive (Income) Loss, Defined Benefit Plan, after Tax [Roll Forward] | |||
Balance at beginning of year | 8,416 | 8,171 | 6,086 |
Prior service (cost) credit | 0 | 2,001 | 3,457 |
Amortization of prior service credit | (1,912) | (1,756) | (1,372) |
Total recognized in other comprehensive (income) loss | (1,912) | 245 | 2,085 |
Balance at end of year | $ 6,504 | $ 8,416 | $ 8,171 |
Pension and Postretirement Be_9
Pension and Postretirement Benefits (Weighted Average Assumptions - Projected Benefit Obligation And Net Pension And Postemployment Benefit Cost) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Defined Benefit Plan Disclosure [Line Items] | |||
Composite rate of compensation increase for determining benefit obligation | 3.00% | 3.00% | |
Pension Benefits | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Weighted-average discount rate for determining benefit obligation at December 31 | 3.00% | 2.70% | 3.40% |
Weighted-average interest credit rate for cash balance pension programs | 3.20% | 3.10% | 3.30% |
Long-term rate of return on plan assets | 6.75% | 7.00% | 7.00% |
Composite rate of compensation increase for determining benefit obligation | 3.00% | 3.00% | 3.00% |
Composite rate of compensation increase for determining net cost (benefit) | 3.00% | 3.00% | 3.00% |
Assumptions used, percentage change in weighted-average interest crediting rate that would impact pension benefit obligation | 0.50% | ||
Effect of 0.50% increase in weighted-average interest crediting rate, increase to pension benefit obligation | $ 125 | ||
Pension Benefits | Service Cost | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Discount rate in effect for determining net cost | 3.30% | 3.60% | 4.10% |
Pension Benefits | Interest Cost | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Discount rate in effect for determining net cost | 2.30% | 2.90% | 3.50% |
Postretirement Benefits | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Weighted-average discount rate for determining benefit obligation at December 31 | 2.80% | 2.40% | 3.20% |
Weighted-average interest credit rate for cash balance pension programs | 0.00% | 0.00% | 0.00% |
Long-term rate of return on plan assets | 4.50% | 4.75% | 5.75% |
Composite rate of compensation increase for determining benefit obligation | 3.00% | 3.00% | 3.00% |
Composite rate of compensation increase for determining net cost (benefit) | 3.00% | 3.00% | 3.00% |
Postretirement Benefits | Service Cost | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Discount rate in effect for determining net cost | 2.90% | 3.50% | 4.40% |
Postretirement Benefits | Interest Cost | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Discount rate in effect for determining net cost | 1.60% | 2.70% | 3.70% |
Pension And Postretirement B_10
Pension And Postretirement Benefits (Schedule Of Defined Benefit Plan Targeted And Actual Plan Asset Allocations) (Details) | Dec. 31, 2021 | Dec. 31, 2020 |
Pension Assets | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual plan asset allocation percentage | 100.00% | 100.00% |
Pension Assets | Domestic | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual plan asset allocation percentage | 16.00% | 19.00% |
Pension Assets | Domestic | Minimum | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual plan asset allocation percentage | 12.00% | |
Pension Assets | Domestic | Maximum | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual plan asset allocation percentage | 22.00% | |
Pension Assets | International | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual plan asset allocation percentage | 13.00% | 15.00% |
Pension Assets | International | Minimum | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual plan asset allocation percentage | 8.00% | |
Pension Assets | International | Maximum | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual plan asset allocation percentage | 18.00% | |
Pension Assets | Fixed income securities | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual plan asset allocation percentage | 38.00% | 35.00% |
Pension Assets | Fixed income securities | Minimum | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual plan asset allocation percentage | 35.00% | |
Pension Assets | Fixed income securities | Maximum | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual plan asset allocation percentage | 45.00% | |
Pension Assets | Real estate and real assets | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual plan asset allocation percentage | 10.00% | 8.00% |
Pension Assets | Real estate and real assets | Minimum | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual plan asset allocation percentage | 7.00% | |
Pension Assets | Real estate and real assets | Maximum | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual plan asset allocation percentage | 17.00% | |
Pension Assets | Private equity | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual plan asset allocation percentage | 12.00% | 9.00% |
Pension Assets | Private equity | Minimum | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual plan asset allocation percentage | 3.00% | |
Pension Assets | Private equity | Maximum | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual plan asset allocation percentage | 13.00% | |
Pension Assets | Preferred interests | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual plan asset allocation percentage | 10.00% | 10.00% |
Pension Assets | Preferred interests | Minimum | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual plan asset allocation percentage | 5.00% | |
Pension Assets | Preferred interests | Maximum | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual plan asset allocation percentage | 15.00% | |
Pension Assets | Other | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual plan asset allocation percentage | 1.00% | 4.00% |
Pension Assets | Other | Minimum | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual plan asset allocation percentage | 0.00% | |
Pension Assets | Other | Maximum | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual plan asset allocation percentage | 5.00% | |
Postretirement (VEBA) Assets | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual plan asset allocation percentage | 100.00% | 100.00% |
Postretirement (VEBA) Assets | Domestic | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual plan asset allocation percentage | 19.00% | 19.00% |
Postretirement (VEBA) Assets | Domestic | Minimum | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual plan asset allocation percentage | 14.00% | |
Postretirement (VEBA) Assets | Domestic | Maximum | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual plan asset allocation percentage | 24.00% | |
Postretirement (VEBA) Assets | International | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual plan asset allocation percentage | 19.00% | 14.00% |
Postretirement (VEBA) Assets | International | Minimum | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual plan asset allocation percentage | 14.00% | |
Postretirement (VEBA) Assets | International | Maximum | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual plan asset allocation percentage | 24.00% | |
Postretirement (VEBA) Assets | Fixed income securities | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual plan asset allocation percentage | 39.00% | 45.00% |
Postretirement (VEBA) Assets | Fixed income securities | Minimum | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual plan asset allocation percentage | 34.00% | |
Postretirement (VEBA) Assets | Fixed income securities | Maximum | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual plan asset allocation percentage | 44.00% | |
Postretirement (VEBA) Assets | Real estate and real assets | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual plan asset allocation percentage | 1.00% | 1.00% |
Postretirement (VEBA) Assets | Real estate and real assets | Minimum | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual plan asset allocation percentage | 0.00% | |
Postretirement (VEBA) Assets | Real estate and real assets | Maximum | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual plan asset allocation percentage | 6.00% | |
Postretirement (VEBA) Assets | Private equity | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual plan asset allocation percentage | 1.00% | 1.00% |
Postretirement (VEBA) Assets | Private equity | Minimum | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual plan asset allocation percentage | 0.00% | |
Postretirement (VEBA) Assets | Private equity | Maximum | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual plan asset allocation percentage | 6.00% | |
Postretirement (VEBA) Assets | Preferred interests | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual plan asset allocation percentage | 0.00% | 0.00% |
Postretirement (VEBA) Assets | Preferred interests | Minimum | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual plan asset allocation percentage | 0.00% | |
Postretirement (VEBA) Assets | Preferred interests | Maximum | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual plan asset allocation percentage | 0.00% | |
Postretirement (VEBA) Assets | Other | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual plan asset allocation percentage | 21.00% | 20.00% |
Postretirement (VEBA) Assets | Other | Minimum | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual plan asset allocation percentage | 17.00% | |
Postretirement (VEBA) Assets | Other | Maximum | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual plan asset allocation percentage | 27.00% |
Pension And Postretirement B_11
Pension And Postretirement Benefits (Schedule Of Fair Value Of Pension And Postretirement Assets And Liabilities By Level) (Details) - USD ($) $ in Millions | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Pension Benefits | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | $ 54,401 | $ 54,606 | $ 53,530 |
Pension Benefits | Assets at fair value | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 42,234 | 42,793 | |
Pension Benefits | Non-interest bearing cash | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 167 | 173 | |
Pension Benefits | Interest bearing cash | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 11 | 7 | |
Pension Benefits | Foreign currency contracts | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 5 | 3 | |
Pension Benefits | Equity securities: Domestic equities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 7,694 | 9,795 | |
Pension Benefits | Equity securities: International equities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 4,124 | 4,844 | |
Pension Benefits | Preferred interests | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 5,562 | 5,771 | |
Pension Benefits | Fixed income securities: Corporate bonds and other investments | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 11,170 | 11,095 | |
Pension Benefits | Fixed income securities: Government and municipal bonds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 6,977 | 6,039 | |
Pension Benefits | Fixed income securities: Mortgage-backed securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 268 | 443 | |
Pension Benefits | Real estate and real assets | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 3,318 | 2,544 | |
Pension Benefits | Securities lending collateral | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 2,930 | 2,056 | |
Pension Benefits | Receivable for variation margin | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 8 | 23 | |
Pension Benefits | Investments sold short and other liabilities at fair value | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | (533) | (459) | |
Pension Benefits | Private equity funds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | $ 6,454 | $ 5,154 | |
Defined Benefit Plan, Plan Assets, Fair Value by Hierarchy and NAV [Extensible List] | Assets held at net asset value practical expedient | Assets held at net asset value practical expedient | |
Pension Benefits | Real estate funds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | $ 2,329 | $ 1,694 | |
Defined Benefit Plan, Plan Assets, Fair Value by Hierarchy and NAV [Extensible List] | Assets held at net asset value practical expedient | Assets held at net asset value practical expedient | |
Pension Benefits | Commingled funds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | $ 6,780 | $ 7,706 | |
Defined Benefit Plan, Plan Assets, Fair Value by Hierarchy and NAV [Extensible List] | Assets held at net asset value practical expedient | Assets held at net asset value practical expedient | |
Pension Benefits | Other assets (liabilities) | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | $ (2,863) | $ (2,282) | |
Postretirement Benefits | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 3,198 | 3,843 | 4,145 |
Postretirement Benefits | Assets at fair value | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 1,287 | 2,020 | |
Postretirement Benefits | Interest bearing cash | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 666 | 799 | |
Postretirement Benefits | Equity securities: Domestic equities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 323 | 363 | |
Postretirement Benefits | Equity securities: International equities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 288 | 282 | |
Postretirement Benefits | Fixed income securities: Corporate bonds and other investments | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 1 | 315 | |
Postretirement Benefits | Fixed income securities: Government and municipal bonds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 139 | ||
Postretirement Benefits | Fixed income securities: Mortgage-backed securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 94 | ||
Postretirement Benefits | Securities lending collateral | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 9 | 28 | |
Postretirement Benefits | Securities lending payable and other liabilities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | (9) | (30) | |
Postretirement Benefits | Private equity funds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | $ 19 | $ 24 | |
Defined Benefit Plan, Plan Assets, Fair Value by Hierarchy and NAV [Extensible List] | Assets held at net asset value practical expedient | Assets held at net asset value practical expedient | |
Postretirement Benefits | Real estate funds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | $ 16 | $ 22 | |
Defined Benefit Plan, Plan Assets, Fair Value by Hierarchy and NAV [Extensible List] | Assets held at net asset value practical expedient | Assets held at net asset value practical expedient | |
Postretirement Benefits | Commingled funds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | $ 1,883 | $ 1,843 | |
Defined Benefit Plan, Plan Assets, Fair Value by Hierarchy and NAV [Extensible List] | Assets held at net asset value practical expedient | Assets held at net asset value practical expedient | |
Postretirement Benefits | Other assets (liabilities) | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | $ 2 | $ (36) | |
Level 1, 2, and 3 | Pension Benefits | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 41,701 | 42,334 | |
Level 1, 2, and 3 | Postretirement Benefits | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 1,278 | 1,990 | |
Level 1 | Pension Benefits | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 13,112 | 14,979 | |
Level 1 | Pension Benefits | Assets at fair value | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 13,641 | 15,429 | |
Level 1 | Pension Benefits | Non-interest bearing cash | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 167 | 173 | |
Level 1 | Pension Benefits | Interest bearing cash | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 11 | 7 | |
Level 1 | Pension Benefits | Foreign currency contracts | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 0 | 0 | |
Level 1 | Pension Benefits | Equity securities: Domestic equities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 7,693 | 9,784 | |
Level 1 | Pension Benefits | Equity securities: International equities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 4,117 | 4,821 | |
Level 1 | Pension Benefits | Preferred interests | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 0 | 0 | |
Level 1 | Pension Benefits | Fixed income securities: Corporate bonds and other investments | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 0 | 0 | |
Level 1 | Pension Benefits | Fixed income securities: Government and municipal bonds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 0 | 0 | |
Level 1 | Pension Benefits | Fixed income securities: Mortgage-backed securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 0 | 0 | |
Level 1 | Pension Benefits | Real estate and real assets | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 0 | 0 | |
Level 1 | Pension Benefits | Securities lending collateral | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 1,645 | 621 | |
Level 1 | Pension Benefits | Receivable for variation margin | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 8 | 23 | |
Level 1 | Pension Benefits | Investments sold short and other liabilities at fair value | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | (529) | (450) | |
Level 1 | Postretirement Benefits | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 982 | 1,152 | |
Level 1 | Postretirement Benefits | Assets at fair value | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 982 | 1,153 | |
Level 1 | Postretirement Benefits | Interest bearing cash | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 371 | 497 | |
Level 1 | Postretirement Benefits | Equity securities: Domestic equities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 323 | 363 | |
Level 1 | Postretirement Benefits | Equity securities: International equities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 287 | 282 | |
Level 1 | Postretirement Benefits | Fixed income securities: Corporate bonds and other investments | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 1 | 5 | |
Level 1 | Postretirement Benefits | Fixed income securities: Government and municipal bonds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 6 | ||
Level 1 | Postretirement Benefits | Fixed income securities: Mortgage-backed securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 0 | ||
Level 1 | Postretirement Benefits | Securities lending collateral | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 0 | 0 | |
Level 1 | Postretirement Benefits | Securities lending payable and other liabilities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 0 | (1) | |
Level 2 | Pension Benefits | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 19,700 | 18,965 | |
Level 2 | Pension Benefits | Assets at fair value | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 19,703 | 18,973 | |
Level 2 | Pension Benefits | Non-interest bearing cash | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 0 | 0 | |
Level 2 | Pension Benefits | Interest bearing cash | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 0 | 0 | |
Level 2 | Pension Benefits | Foreign currency contracts | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 5 | 3 | |
Level 2 | Pension Benefits | Equity securities: Domestic equities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 0 | 0 | |
Level 2 | Pension Benefits | Equity securities: International equities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 0 | 11 | |
Level 2 | Pension Benefits | Preferred interests | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 0 | 0 | |
Level 2 | Pension Benefits | Fixed income securities: Corporate bonds and other investments | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 11,168 | 11,043 | |
Level 2 | Pension Benefits | Fixed income securities: Government and municipal bonds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 6,977 | 6,039 | |
Level 2 | Pension Benefits | Fixed income securities: Mortgage-backed securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 268 | 442 | |
Level 2 | Pension Benefits | Real estate and real assets | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 0 | 0 | |
Level 2 | Pension Benefits | Securities lending collateral | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 1,285 | 1,435 | |
Level 2 | Pension Benefits | Receivable for variation margin | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 0 | 0 | |
Level 2 | Pension Benefits | Investments sold short and other liabilities at fair value | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | (3) | (8) | |
Level 2 | Postretirement Benefits | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 295 | 834 | |
Level 2 | Postretirement Benefits | Assets at fair value | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 304 | 863 | |
Level 2 | Postretirement Benefits | Interest bearing cash | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 295 | 302 | |
Level 2 | Postretirement Benefits | Equity securities: Domestic equities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 0 | 0 | |
Level 2 | Postretirement Benefits | Equity securities: International equities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 0 | 0 | |
Level 2 | Postretirement Benefits | Fixed income securities: Corporate bonds and other investments | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 0 | 307 | |
Level 2 | Postretirement Benefits | Fixed income securities: Government and municipal bonds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 132 | ||
Level 2 | Postretirement Benefits | Fixed income securities: Mortgage-backed securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 94 | ||
Level 2 | Postretirement Benefits | Securities lending collateral | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 9 | 28 | |
Level 2 | Postretirement Benefits | Securities lending payable and other liabilities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | (9) | (29) | |
Level 3 | Pension Benefits | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 8,889 | 8,390 | 11,639 |
Level 3 | Pension Benefits | Assets at fair value | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 8,890 | 8,391 | |
Level 3 | Pension Benefits | Non-interest bearing cash | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 0 | 0 | |
Level 3 | Pension Benefits | Interest bearing cash | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 0 | 0 | |
Level 3 | Pension Benefits | Foreign currency contracts | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 0 | 0 | |
Level 3 | Pension Benefits | Equity securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 5,569 | 5,793 | 8,816 |
Level 3 | Pension Benefits | Equity securities: Domestic equities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 1 | 11 | |
Level 3 | Pension Benefits | Equity securities: International equities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 7 | 12 | |
Level 3 | Pension Benefits | Preferred interests | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 5,562 | 5,771 | |
Level 3 | Pension Benefits | Fixed Income Funds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 2 | 53 | 6 |
Level 3 | Pension Benefits | Fixed income securities: Corporate bonds and other investments | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 2 | 52 | |
Level 3 | Pension Benefits | Fixed income securities: Government and municipal bonds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 0 | 0 | |
Level 3 | Pension Benefits | Fixed income securities: Mortgage-backed securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 0 | 1 | |
Level 3 | Pension Benefits | Real estate and real assets | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 3,318 | 2,544 | 2,817 |
Level 3 | Pension Benefits | Securities lending collateral | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 0 | 0 | |
Level 3 | Pension Benefits | Receivable for variation margin | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 0 | 0 | |
Level 3 | Pension Benefits | Investments sold short and other liabilities at fair value | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | (1) | (1) | |
Level 3 | Postretirement Benefits | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 1 | 4 | 32 |
Level 3 | Postretirement Benefits | Assets at fair value | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 1 | 4 | |
Level 3 | Postretirement Benefits | Interest bearing cash | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 0 | 0 | |
Level 3 | Postretirement Benefits | Equity securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 1 | 0 | 0 |
Level 3 | Postretirement Benefits | Equity securities: Domestic equities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 0 | 0 | |
Level 3 | Postretirement Benefits | Equity securities: International equities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 1 | 0 | |
Level 3 | Postretirement Benefits | Fixed Income Funds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 0 | 4 | 32 |
Level 3 | Postretirement Benefits | Fixed income securities: Corporate bonds and other investments | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 0 | 3 | |
Level 3 | Postretirement Benefits | Fixed income securities: Government and municipal bonds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 1 | ||
Level 3 | Postretirement Benefits | Fixed income securities: Mortgage-backed securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 0 | ||
Level 3 | Postretirement Benefits | Real estate and real assets | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 0 | 0 | $ 0 |
Level 3 | Postretirement Benefits | Securities lending collateral | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 0 | 0 | |
Level 3 | Postretirement Benefits | Securities lending payable and other liabilities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 0 | 0 | |
Assets held at net asset value practical expedient | Pension Benefits | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 15,563 | 14,554 | |
Assets held at net asset value practical expedient | Postretirement Benefits | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | $ 1,918 | $ 1,889 |
Pension And Postretirement B_12
Pension And Postretirement Benefits (Fair Value Assets Measured On Recurring Basis Unobservable Input (Level 3) Reconciliation) (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Pension Assets | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Fair value of plan assets at beginning of year | $ 54,606 | $ 53,530 |
Fair value of plan assets at end of year | 54,401 | 54,606 |
Pension Assets | Level 3 | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Fair value of plan assets at beginning of year | 8,390 | 11,639 |
Realized gains (losses) | (29) | 105 |
Unrealized gains (losses) | 355 | (175) |
Transfers in | 1 | 91 |
Transfers out | (15) | (3) |
Purchases | 433 | 9,338 |
Sales | (246) | (12,605) |
Fair value of plan assets at end of year | 8,889 | 8,390 |
Pension Assets | Equity securities | Level 3 | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Fair value of plan assets at beginning of year | 5,793 | 8,816 |
Realized gains (losses) | 2 | (150) |
Unrealized gains (losses) | (203) | 3 |
Transfers in | 0 | 4 |
Transfers out | (7) | 0 |
Purchases | 7 | 9,114 |
Sales | (23) | (11,994) |
Fair value of plan assets at end of year | 5,569 | 5,793 |
Pension Assets | Fixed Income Funds | Level 3 | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Fair value of plan assets at beginning of year | 53 | 6 |
Realized gains (losses) | 0 | 0 |
Unrealized gains (losses) | 0 | 0 |
Transfers in | 1 | 51 |
Transfers out | (8) | (3) |
Purchases | 1 | 1 |
Sales | (45) | (2) |
Fair value of plan assets at end of year | 2 | 53 |
Pension Assets | Real Estate and Real Assets | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Fair value of plan assets at beginning of year | 2,544 | |
Fair value of plan assets at end of year | 3,318 | 2,544 |
Pension Assets | Real Estate and Real Assets | Level 3 | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Fair value of plan assets at beginning of year | 2,544 | 2,817 |
Realized gains (losses) | (31) | 255 |
Unrealized gains (losses) | 558 | (178) |
Transfers in | 0 | 36 |
Transfers out | 0 | 0 |
Purchases | 425 | 223 |
Sales | (178) | (609) |
Fair value of plan assets at end of year | 3,318 | 2,544 |
Postretirement Assets | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Fair value of plan assets at beginning of year | 3,843 | 4,145 |
Fair value of plan assets at end of year | 3,198 | 3,843 |
Postretirement Assets | Level 3 | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Fair value of plan assets at beginning of year | 4 | 32 |
Realized gains (losses) | (1) | |
Unrealized gains (losses) | 1 | |
Transfers in | 1 | 3 |
Transfers out | (11) | |
Sales | (4) | (20) |
Fair value of plan assets at end of year | 1 | 4 |
Postretirement Assets | Equity securities | Level 3 | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Fair value of plan assets at beginning of year | 0 | 0 |
Realized gains (losses) | 0 | |
Unrealized gains (losses) | 0 | |
Transfers in | 1 | 0 |
Transfers out | 0 | |
Sales | 0 | 0 |
Fair value of plan assets at end of year | 1 | 0 |
Postretirement Assets | Fixed Income Funds | Level 3 | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Fair value of plan assets at beginning of year | 4 | 32 |
Realized gains (losses) | (1) | |
Unrealized gains (losses) | 1 | |
Transfers in | 0 | 3 |
Transfers out | (11) | |
Sales | (4) | (20) |
Fair value of plan assets at end of year | 0 | 4 |
Postretirement Assets | Real Estate and Real Assets | Level 3 | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Fair value of plan assets at beginning of year | 0 | 0 |
Realized gains (losses) | 0 | |
Unrealized gains (losses) | 0 | |
Transfers in | 0 | 0 |
Transfers out | 0 | |
Sales | 0 | 0 |
Fair value of plan assets at end of year | $ 0 | $ 0 |
Pension And Postretirement B_13
Pension And Postretirement Benefits (Estimated Future Benefit Payments) (Details) $ in Millions | Dec. 31, 2021USD ($) |
Pension Benefits | |
Defined Benefit Plan Disclosure [Line Items] | |
2022 | $ 5,922 |
2023 | 4,237 |
2024 | 4,121 |
2025 | 4,113 |
2026 | 3,934 |
Years 2027 - 2031 | 18,292 |
Postretirement Benefits | |
Defined Benefit Plan Disclosure [Line Items] | |
2022 | 1,262 |
2023 | 1,181 |
2024 | 888 |
2025 | 842 |
2026 | 794 |
Years 2027 - 2031 | $ 3,544 |
Share-Based Payments (Narrative
Share-Based Payments (Narrative) (Details) - USD ($) shares in Millions, $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Number of authorized shares of common stock for share-based payment arrangements (in shares) | 139 | ||
Total unrecognized compensation cost related to nonvested share-based payment arrangements granted | $ 916 | ||
Weighted-average period to recognize the cost (years) - nonvested units | 1 year 11 months 12 days | ||
Total fair value of shares vested during the year - nonvested units | $ 811 | $ 647 | $ 798 |
Cash proceeds from exercise of stock options | $ 60 | $ 65 | $ 446 |
Restricted stock and stock units | Minimum | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Vesting period | 3 years | ||
Restricted stock and stock units | Maximum | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Vesting period | 5 years | ||
Restricted stock and stock units | Time Warner | Minimum | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Vesting period | 1 year | ||
Restricted stock and stock units | Time Warner | Maximum | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Vesting period | 4 years | ||
Stock options | Time Warner | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Vesting period | 1 year | ||
Performance stock units | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Vesting period | 3 years | ||
Other nonvested stock units | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Vesting period | 3 years |
Share-Based Payments (Compensat
Share-Based Payments (Compensation Cost And Valuation Assumption) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Total | $ 637 | $ 638 | $ 819 |
Income tax benefit | 157 | 157 | 202 |
Performance stock units | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Total | 245 | 348 | 544 |
Restricted stock and stock units | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Total | 385 | 290 | 273 |
Other nonvested stock units | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Total | 7 | 0 | 7 |
Stock options | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Total | $ 0 | $ 0 | $ (5) |
Share-Based Payments (Summary O
Share-Based Payments (Summary Of Nonvested Stock Units Activity) (Details) shares in Millions | 12 Months Ended |
Dec. 31, 2021$ / sharesshares | |
Shares | |
Nonvested at beginning of period (in shares) | shares | 43 |
Granted (in shares) | shares | 36 |
Vested (in shares) | shares | (26) |
Forfeited (in shares) | shares | (4) |
Nonvested at end of period (in shares) | shares | 49 |
Weighted-Average Grant- Date Fair Value | |
Nonvested at beginning of period (in dollars per share) | $ / shares | $ 34.50 |
Granted (in dollars per share) | $ / shares | 28.79 |
Vested (in dollars per share) | $ / shares | 31.56 |
Forfeited (in dollars per share) | $ / shares | 31.52 |
Nonvested at end of period (in dollars per share) | $ / shares | $ 32.06 |
Stockholders' Equity (Narrative
Stockholders' Equity (Narrative) (Details) $ / shares in Units, $ in Millions | Nov. 06, 2020USD ($) | Oct. 31, 2020USD ($) | Dec. 31, 2021USD ($)$ / sharesshares | Dec. 31, 2020USD ($)$ / sharesshares | Sep. 30, 2020USD ($)period | Dec. 31, 2019USD ($) | Sep. 30, 2019USD ($) | Dec. 31, 2021USD ($)$ / sharesshares | Dec. 31, 2021USD ($)$ / sharesshares | Dec. 31, 2020USD ($)$ / sharesshares | Dec. 31, 2019USD ($)period$ / shares | Dec. 31, 2021€ / sharesshares |
Class of Stock [Line Items] | ||||||||||||
Common stock, authorized (in shares) | shares | 14,000,000,000 | 14,000,000,000 | 14,000,000,000 | 14,000,000,000 | 14,000,000,000 | 14,000,000,000 | ||||||
Preferred stock, authorized (in shares) | shares | 10,000,000 | 10,000,000 | 10,000,000 | 10,000,000 | 10,000,000 | 10,000,000 | ||||||
Common stock, par value (in dollars per share) | $ / shares | $ 1 | $ 1 | $ 1 | $ 1 | $ 1 | |||||||
Preferred stock, par value (in dollars per share) | $ / shares | $ 1 | $ 1 | $ 1 | $ 1 | $ 1 | |||||||
Period post issuance date that preferred shares are optionally redeemable at liquidation price | 5 years | |||||||||||
Equity, Class of Treasury Stock [Line Items] | ||||||||||||
Repurchase of common stock (in shares) | shares | 0 | 142,000,000 | ||||||||||
Amount repurchased | $ 5,278 | |||||||||||
Preferred stock, quarterly dividend declared | $ 36 | $ 36 | ||||||||||
Common stock, quarterly dividend declared per common shares (in dollars per share) | $ / shares | $ 0.52 | $ 0.52 | $ 2.08 | $ 2.08 | $ 2.05 | |||||||
Noncontrolling Interest [Line Items] | ||||||||||||
Redemption of nonconvertible cumulative preferred interests in subsidiary | $ 0 | $ 1,950 | $ 0 | |||||||||
Discontinued Operations, Disposed of by Sale | Puerto Rico And U.S. Virgin Islands Operations | ||||||||||||
Noncontrolling Interest [Line Items] | ||||||||||||
Redemption of nonconvertible cumulative preferred interests in subsidiary | $ 1,950 | $ 1,950 | ||||||||||
Stock Repurchase Program, March 2013 | ||||||||||||
Equity, Class of Treasury Stock [Line Items] | ||||||||||||
Shares authorized for repurchase (in shares) | shares | 300,000,000 | 300,000,000 | 300,000,000 | 300,000,000 | ||||||||
Stock Repurchase Program, March 2014 | ||||||||||||
Equity, Class of Treasury Stock [Line Items] | ||||||||||||
Shares authorized for repurchase (in shares) | shares | 300,000,000 | 300,000,000 | 300,000,000 | 300,000,000 | ||||||||
Amount outstanding (in shares) | shares | 178,000,000 | 178,000,000 | 178,000,000 | 178,000,000 | ||||||||
Tower Holdings | ||||||||||||
Noncontrolling Interest [Line Items] | ||||||||||||
Preferred interest issued | $ 6,000 | 6,000 | ||||||||||
Fixed future purchase option price | $ 6,000 | |||||||||||
Distribution reset period | 5 years | |||||||||||
Period post issuance date that preferred interests can be called at issue price | 5 years | |||||||||||
Option to require redemption, certain contingent events, failure of subsidiary to pay preferred distributions, minimum number of periods | period | 2 | |||||||||||
Telco LLC | ||||||||||||
Noncontrolling Interest [Line Items] | ||||||||||||
Preferred interest issued | $ 2,000 | |||||||||||
Initial preferred distribution percentage | 4.25% | |||||||||||
Distribution reset period | 7 years | |||||||||||
Period post issuance date that preferred interests can be called at issue price | 7 years | |||||||||||
Option to require redemption, certain contingent events, failure of subsidiary to pay preferred distributions, minimum number of periods | period | 2 | |||||||||||
PR Holdings | ||||||||||||
Noncontrolling Interest [Line Items] | ||||||||||||
Preferred interest issued | 1,950 | $ 1,950 | ||||||||||
Initial preferred distribution percentage | 4.75% | |||||||||||
Preferred Stock – Series A | ||||||||||||
Class of Stock [Line Items] | ||||||||||||
Preferred stock, outstanding (in shares) | shares | 48,000 | 48,000 | 48,000 | 48,000 | 48,000 | 48,000 | ||||||
Preferred stock, liquidation preference per share (in dollars/Euros per share) | $ / shares | $ 25,000 | $ 25,000 | $ 25,000 | |||||||||
Preferred stock, dividend rate | 5.00% | |||||||||||
Preferred Stock – Series A | Mobility II, LLC | ||||||||||||
Noncontrolling Interest [Line Items] | ||||||||||||
Preferred interest, securities issued (in shares) | shares | 320,000,000 | 320,000,000 | 320,000,000 | 320,000,000 | ||||||||
Preferred interest distributions | $ 140 | $ 560 | ||||||||||
Put or redemption option, minimum exercise price calculation, value added to accrued and unpaid distributions (in dollars per share) | $ / shares | $ 25 | |||||||||||
Put or redemption option, minimum exercise price calculation, value added to accrued and unpaid distributions in the aggregate | $ 8,000 | |||||||||||
Maximum shares of common stock required to deliver to settle put and redemption options (in shares) | shares | 250,000,000 | |||||||||||
Class A-1 | Tower Holdings | ||||||||||||
Noncontrolling Interest [Line Items] | ||||||||||||
Preferred interest issued | $ 1,500 | |||||||||||
Initial preferred distribution percentage | 5.00% | |||||||||||
Class A-2 | Tower Holdings | ||||||||||||
Noncontrolling Interest [Line Items] | ||||||||||||
Preferred interest issued | $ 4,500 | $ 4,500 | ||||||||||
Initial preferred distribution percentage | 4.75% | |||||||||||
Preferred Stock – Series B | ||||||||||||
Class of Stock [Line Items] | ||||||||||||
Preferred stock, outstanding (in shares) | shares | 20,000 | 20,000 | 20,000 | 20,000 | 20,000 | 20,000 | ||||||
Preferred stock, liquidation preference per share (in dollars/Euros per share) | € / shares | € 100,000 | |||||||||||
Preferred stock, dividend rate | 2.875% | |||||||||||
Preferred Stock – Series C | ||||||||||||
Class of Stock [Line Items] | ||||||||||||
Preferred stock, outstanding (in shares) | shares | 70,000 | 70,000 | 70,000 | 70,000 | 70,000 | 70,000 | ||||||
Preferred stock, liquidation preference per share (in dollars/Euros per share) | $ / shares | $ 25,000 | $ 25,000 | $ 25,000 | |||||||||
Preferred stock, dividend rate | 4.75% |
Sales Of Receivables (Equipment
Sales Of Receivables (Equipment Installment and AT&T Revolving Programs) (Details) - USD ($) $ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Equipment Installment | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Gross receivables | $ 4,361 | $ 5,565 |
Other Assets | 1,909 | 2,295 |
Outstanding portfolio of receivables derecognized from our consolidated balance sheets | 9,767 | 7,827 |
Cash proceeds received, net of remittances | 6,644 | 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 | 606 | 554 |
Revolving | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Gross receivables | 3,527 | 3,909 |
Other Assets | 190 | 194 |
Outstanding portfolio of receivables derecognized from our consolidated balance sheets | 6,280 | 5,300 |
Cash proceeds received, net of remittances | 6,280 | 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 | $ 3,337 | $ 3,715 |
Sales Of Receivables (Finance R
Sales Of Receivables (Finance Receivables) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Net receivables sold | $ 19,775 | $ 15,760 | $ 11,604 |
Cash proceeds received | 20,060 | 15,888 | 11,989 |
Guarantee obligation recorded | 18 | 271 | 530 |
Equipment Installment | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Gross receivables sold | 10,793 | 7,270 | 9,921 |
Net receivables sold | 10,502 | 7,026 | 9,483 |
Cash proceeds received | 9,740 | 6,089 | 8,189 |
Deferred purchase price recorded | 1,080 | 1,021 | 1,451 |
Guarantee obligation recorded | $ 434 | $ 157 | $ 341 |
Sales Of Receivables (Finance_2
Sales Of Receivables (Finance Receivables Repurchased) (Details) - Equipment Installment - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Fair value of repurchased receivables | $ 1,424 | $ 1,271 | $ 1,418 |
Carrying value of deferred purchase price | 1,334 | 1,235 | 1,350 |
Gain on repurchases | $ 90 | $ 36 | $ 68 |
Sales Of Receivables (Equipme_2
Sales Of Receivables (Equipment Installment and AT&T Revolving Programs) (Narrative) (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Equipment Installment Program | Guarantee Obligation | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Guarantee obligation | $ 371 | $ 228 |
Equipment Installment Program | Accounts payable and accrued liabilities | Guarantee Obligation | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Guarantee obligation | 101 | 161 |
Equipment Installment Program | Deferred Purchase Price Receivables | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Deferred purchase price receivable | 3,177 | 1,991 |
Equipment Installment Program | Deferred Purchase Price Receivables | Prepaid and other current assets | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Deferred purchase price receivable | 2,123 | $ 1,476 |
Revolving Receivables Program | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Revolving agreement, transfer amount (up to) | 6,680 | |
Receivables pledged as collateral | $ 3,527 |
Sales Of Receivables (Summary o
Sales Of Receivables (Summary of Receivables Sold) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Receivables [Abstract] | |||
Gross receivables sold/cash proceeds received | $ 20,060 | $ 15,888 | $ 11,989 |
Total collections under revolving agreement2 | 18,910 | 14,888 | 7,689 |
Receivables repurchased | 170 | 0 | 0 |
Net cash proceeds received | 980 | 1,000 | 4,300 |
Net receivables sold | 19,775 | 15,760 | 11,604 |
Obligations recorded | 18 | 271 | 530 |
Initial sale of receivables | 1,380 | 1,000 | 4,300 |
Total collections under revolving agreement not reinvested | $ 400 | $ 0 | $ 0 |
Tower Transaction (Narrative) (
Tower Transaction (Narrative) (Details) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021USD ($)tower | Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) | |
Other Liabilities [Line Items] | |||
Balance of tower assets | $ 125,904 | $ 127,315 | $ 130,128 |
Depreciation expense | $ 18,629 | 20,504 | 20,758 |
Crown Castle International | |||
Other Liabilities [Line Items] | |||
Number of wireless towers with exclusive rights to lease | tower | 9,048 | ||
Number of wireless towers subject to disposition | tower | 627 | ||
Cash from failed sale-leaseback | $ 4,827 | ||
Term of lease | 28 years | ||
Approximate fixed future purchase option price on failed sale-leaseback | $ 4,200 | ||
Initial term | 10 years | ||
Balance of tower assets | $ 725 | 764 | |
Depreciation expense | $ 39 | $ 39 | $ 39 |
Approximate annual interest rate - financing obligation | 3.90% | ||
Lease payments | $ 253 | ||
Minimum lease payments - 2022 | 258 | ||
Minimum lease payments - 2023 | 264 | ||
Minimum lease payments - 2024 | 269 | ||
Minimum lease payments - 2025 | 274 | ||
Minimum lease payments - 2026 | 280 | ||
Minimum lease payments - thereafter | $ 707 |
Transactions With DIRECTV (Deta
Transactions With DIRECTV (Details) - USD ($) $ in Millions | Jul. 31, 2021 | Dec. 31, 2021 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Sep. 30, 2021 |
Related Party Transaction [Line Items] | ||||||
Equity in net income of affiliates | $ 631 | $ 95 | $ 6 | |||
Distributions from equity method investment | 815 | 133 | ||||
Repayments of Related Party Debt | 459 | |||||
Notes Payable, Related Parties | $ 1,800 | |||||
DIRECTV | ||||||
Related Party Transaction [Line Items] | ||||||
Distributions from equity method investment | 1,323 | $ 0 | ||||
Agreement to pay net losses under NFL Sunday Ticket Contract, cap amount | 2,100 | 2,100 | ||||
Preferred interest in newly formed company | $ 1,800 | $ 1,800 | ||||
Repayments of Related Party Debt | 459 | |||||
Notes Payable, Related Parties | $ 1,341 | $ 1,341 | ||||
Network Transport For Products and Sales Services Under Commercial Arrangements Period | 5 years | 5 years | ||||
Operational Support Services Agreement Period | 3 years | 3 years | ||||
Operating Costs and Expenses | $ 200 | |||||
Accounts Receivable, Related Parties | 436 | $ 436 | ||||
Accounts Payable, Related Parties | 329 | 329 | ||||
DIRECTV | Equity Method Investee [Member] | ||||||
Related Party Transaction [Line Items] | ||||||
Equity in net income of affiliates | 619 | 619 | ||||
Distributions from equity method investment | 1,942 | $ 1,942 | ||||
Related Party Costs | 550 | |||||
DIRECTV | Equity Method Investee [Member] | Operating Activities [Member] | ||||||
Related Party Transaction [Line Items] | ||||||
Distributions from equity method investment | 619 | |||||
DIRECTV | Equity Method Investee [Member] | Investing Activities [Member] | ||||||
Related Party Transaction [Line Items] | ||||||
Distributions from equity method investment | 1,323 | |||||
Content Service | DIRECTV | Equity Method Investee [Member] | ||||||
Related Party Transaction [Line Items] | ||||||
Revenue from Related Parties | 670 | |||||
Advertising | DIRECTV | Equity Method Investee [Member] | ||||||
Related Party Transaction [Line Items] | ||||||
Revenue from Related Parties | $ 600 |
FirstNet (Narrative) (Details)
FirstNet (Narrative) (Details) - FirstNet $ in Millions | 12 Months Ended | |
Dec. 31, 2021USD ($) | Dec. 31, 2018USD ($)milestone | |
Government Contracts Subject to Renegotiation [Line Items] | ||
Refunds received under contract | $ 170 | |
Licensing Agreements | ||
Government Contracts Subject to Renegotiation [Line Items] | ||
Term of contract | 25 years | |
Amount of success-based payments expected to be received | $ 6,500 | |
Period over which success-based payments are expected to be received, construction period | 5 years | |
Sustainability payment commitment amount | $ 18,000 | |
Amount estimated to be reinvested into the network | $ 15,000 | |
Amount submitted in sustainability payments | 120 | |
Future sustainability payments due in 2022 | 195 | |
Future sustainability payments due in 2023 | 195 | |
Future sustainability payments due in 2024 | 195 | |
Future sustainability payments due in 2025 | 195 | |
Future sustainability payments due in 2026 | 1,590 | |
Future sustainability payments due thereafter | 15,030 | |
Number of operating capability milestones | milestone | 6 | |
Refunds received under contract | $ 5,860 | |
Licensing Agreements | Maximum | ||
Government Contracts Subject to Renegotiation [Line Items] | ||
Anticipated amount of operating expenses over life of contract, adjusted for inflation (or less) | $ 3,000 |
Contingent Liabilities (Narrati
Contingent Liabilities (Narrative) (Details) $ in Millions | Dec. 31, 2021USD ($) |
Commitments and Contingencies Disclosure [Abstract] | |
Contractual purchase obligations for 2022 | $ 28,860 |
Contractual purchase obligations for 2023 and 2024 | 24,585 |
Contractual purchase obligations for 2025 and 2026 | 11,636 |
Contractual purchase obligations for total years thereafter | $ 12,540 |
Additional Financial Informat_3
Additional Financial Information (Consolidated Balance Sheets) (Details) - USD ($) $ in Millions | Dec. 31, 2021 | Dec. 31, 2020 |
Accounts payable and accrued liabilities: | ||
Accounts payable | $ 30,756 | $ 31,836 |
Accrued payroll and commissions | 3,449 | 2,988 |
Current portion of employee benefit obligation | 1,278 | 1,415 |
Accrued participations and residuals | 2,966 | 2,708 |
Accrued interest | 2,463 | 2,454 |
Accrued taxes | 1,402 | 1,019 |
Other | 8,347 | 7,631 |
Total accounts payable and accrued liabilities | $ 50,661 | $ 50,051 |
Additional Financial Informat_4
Additional Financial Information (Consolidated Statements Of Income) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Additional Financial Information [Line Items] | |||
Advertising expense | $ 6,316 | $ 5,253 | $ 6,121 |
Interest expense incurred | 7,838 | 8,048 | 8,622 |
Total interest expense | 6,884 | 7,925 | 8,422 |
Capital Expenditures | |||
Additional Financial Information [Line Items] | |||
Capitalized interest | (173) | (123) | (200) |
Spectrum Licenses | |||
Additional Financial Information [Line Items] | |||
Capitalized interest | $ (781) | $ 0 | $ 0 |
Additional Financial Informat_5
Additional Financial Information (Cash and Cash Equivalents and Restricted Cash) (Details) - USD ($) $ in Millions | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Cash and Cash Equivalents and Restricted Cash | ||||
Cash and cash equivalents | $ 21,169 | $ 9,740 | $ 12,130 | $ 5,204 |
Restricted cash in Other current assets | 3 | 9 | 69 | 61 |
Restricted cash in Other Assets | 144 | 121 | 96 | 135 |
Cash and cash equivalents and restricted cash | $ 21,316 | $ 9,870 | $ 12,295 | $ 5,400 |
Additional Financial Informat_6
Additional Financial Information (Consolidated Statements Of Cash Flows) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Cash paid (received) during the year for: | |||
Interest | $ 7,673 | $ 8,237 | $ 8,693 |
Income taxes, net of refunds | 700 | 993 | 1,421 |
Spectrum acquisitions1 | 25,453 | 1,851 | 1,809 |
Spectrum Licenses | |||
Cash paid (received) during the year for: | |||
Spectrum acquisitions1 | $ 24,672 | $ 1,613 | $ 1,576 |
Additional Financial Informat_7
Additional Financial Information (Narrative) (Details) $ in Millions | 12 Months Ended | |||
Dec. 31, 2021USD ($)employee | Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) | Jan. 31, 2022employee | |
Additional Financial Information [Line Items] | ||||
Debt maturing within one year | $ | $ 18,185 | |||
Percentage of employees represented by CWA, IBEW, or other unions | 37.00% | |||
Subsequent Event | ||||
Additional Financial Information [Line Items] | ||||
Approximate number of persons employed at a point in time | 203,000 | |||
Contract Covering Employees in 36 States and District of Columbia | Communications | Mobility | ||||
Additional Financial Information [Line Items] | ||||
Number of employees under contracts where union may call a work stoppage | 12,000 | |||
Contract Covering Employees In 5 Midwest States | Communications | Wireline | ||||
Additional Financial Information [Line Items] | ||||
Number of employees under contracts where union may call a work stoppage | 6,000 | |||
Midwest International Brotherhood of Electrical Workers (IBEW) | ||||
Additional Financial Information [Line Items] | ||||
Number of employees under contracts where union may call a work stoppage | 3,000 | |||
Nationwide Corporate Employees | ||||
Additional Financial Information [Line Items] | ||||
Number of employees under contracts where union may call a work stoppage | 2,000 | |||
Teamster employees in Alaska | Communications | Alascom | ||||
Additional Financial Information [Line Items] | ||||
Number of employees under contracts where union may call a work stoppage | 170 | |||
Vendor Financing Program | ||||
Additional Financial Information [Line Items] | ||||
Noncash investing activities | $ | $ 5,282 | $ 4,664 | $ 2,632 | |
Vendor financing payables | $ | $ 5,000 | |||
Vendor Financing Program | Minimum | ||||
Additional Financial Information [Line Items] | ||||
Long-term Debt, Maturities, Repayment Terms | one year | |||
Vendor Financing Program | Maximum | ||||
Additional Financial Information [Line Items] | ||||
Long-term Debt, Maturities, Repayment Terms | five years | |||
Accounts payable and accrued liabilities | Vendor Financing Program | ||||
Additional Financial Information [Line Items] | ||||
Debt maturing within one year | $ | $ 3,950 | |||
Other Noncurrent Liabilities | Vendor Financing Program | ||||
Additional Financial Information [Line Items] | ||||
Debt maturing within five years | $ | $ 1,050 |
Valuation And Qualifying Accoun
Valuation And Qualifying Accounts (Allowance For Doubtful Accounts) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Allowance for Credit Loss | |||
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward] | |||
Balance at Beginning of Period | $ 1,589 | $ 1,235 | $ 907 |
Charged to Costs and Expenses | 1,240 | 1,972 | 2,575 |
Charged to Other Accounts | 0 | 405 | 0 |
Acquisitions | 0 | 0 | 0 |
Deductions | 1,693 | 2,023 | 2,247 |
Balance at End of Period (d) | 1,136 | 1,589 | 1,235 |
Allowance for Deferred Tax Assets | |||
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward] | |||
Balance at Beginning of Period | 4,773 | 4,941 | 4,588 |
Charged to Costs and Expenses | (135) | (168) | (18) |
Charged to Other Accounts | 0 | 0 | 371 |
Acquisitions | 0 | 0 | 0 |
Deductions | 0 | 0 | 0 |
Balance at End of Period (d) | $ 4,638 | $ 4,773 | $ 4,941 |