AT&T (T) 8-K Regulation FD Disclosure

Comparative Basis Financial Information - Standalone AT&T by Segment
Supplemental Unaudited Quarterly Comparative Financial Information
Dollars in millions
Unaudited
	Operating Revenues	3/31/2020		6/30/2020		9/30/2020		12/31/2020		2020		3/31/2021		6/30/2021		9/30/2021		12/31/2021		2021
	Mobility	$	17,402	$	17,149	$	17,894	$	20,119	$	72,564	$	19,034	$	18,936	$	19,138	$	21,146	$	78,254
	Business Wireline	6,266		6,305		6,261		6,251		25,083		6,046		6,052		5,938		5,901		23,937
	Consumer Wireline	3,111		3,051		3,040		3,116		12,318		3,098		3,140		3,142		3,159		12,539
	Mexico	703		480		643		736		2,562		631		688		724		704		2,747
	Segment Total	27,482		26,985		27,838		30,222		112,527		28,809		28,816		28,942		30,910		117,477
	Corporate:
	Securitization - Installment	14		14		13		12		53		13		15		16		17		61
	Commercial agreements with DIRECTV	—		—		—		—		—		—		—		20		29		49
	Parent retained	(43)		(9)		(4)		(6)		(62)		(12)		—		—		(6)		(18)
	Value portfolio (including Invidi)	192		201		191		190		774		174		169		151		145		639
	Total Corporate	163		206		200		196		765		175		184		187		185		731
	Standalone AT&T Operating Revenues	$	27,645	$	27,191	$	28,038	$	30,418	$	113,292	$	28,984	$	29,000	$	29,129	$	31,095	$	118,208

Operations and Support Expenses	3/31/2020		6/30/2020		9/30/2020		12/31/2020		2020		3/31/2021		6/30/2021		9/30/2021		12/31/2021		2021
Mobility	$	9,463	$	9,218	$	10,075	$	12,921	$	41,677	$	10,976	$	10,906	$	11,116	$	13,764	$	46,762
Business Wireline	3,823		3,653		3,699		3,893		15,068		3,688		3,690		3,632		3,708		14,718
Consumer Wireline	1,860		1,906		2,082		2,094		7,942		2,029		2,063		2,188		2,168		8,448
Mexico	714		538		662		722		2,636		620		667		697		668		2,652
Segment Total	15,860		15,315		16,518		19,630		67,323		17,313		17,326		17,633		20,308		72,580
Corporate:
DTV stranded costs	—		—		—		—		—		—		—		69		174		243
Estimated comparative adjustment for DTV retained cost	350		350		350		350		1,400		350		350		117		—		817
Parent administration support	327		489		497		368		1,681		364		406		352		376		1,498
Securitization fees	42		20		3		7		72		40		12		1		36		89
Value portfolio (including Invidi)	96		85		81		72		334		52		79		54		50		235
Total Corporate	815		944		931		797		3,487		806		847		593		636		2,882
Reclassification of prior service credits	610		611		611		610		2,442		669		672		670		669		2,680
Merger & Significant Items	(750)		757		(56)		44		(5)		(11)		(93)		146		96		138
Standalone AT&T Operations and Support Expenses	16,535		17,627		18,004		21,081		73,247		18,777		18,752		19,042		21,709		78,280
Standalone AT&T Merger & Significant items	750		(757)		56		(44)		5		11		93		(145)		(97)		(138)
Standalone AT&T Adjusted Operations and Support Expenses	$	17,285	$	16,870	$	18,060	$	21,037	$	73,252	$	18,788	$	18,845	$	18,897	$	21,612	$	78,142

Depreciation and Amortization Expense	3/31/2020		6/30/2020		9/30/2020		12/31/2020		2020		3/31/2021		6/30/2021		9/30/2021		12/31/2021		2021
Mobility	$	2,045	$	2,012	$	2,021	$	2,008	$	8,086	$	2,014	$	2,023	$	2,035	$	2,050	$	8,122
Business Wireline	1,286		1,301		1,313		1,316		5,216		1,278		1,293		1,304		1,317		5,192
Consumer Wireline	712		730		734		738		2,914		762		769		775		789		3,095
Mexico	134		115		124		140		513		145		150		157		153		605
Segment Total	4,177		4,158		4,192		4,202		16,729		4,199		4,235		4,271		4,309		17,014
Corporate:
DTV stranded costs	—		—		—		—		—		—		—		92		144		236
Estimated comparative adjustment for DTV retained cost	180		180		180		180		720		180		180		60		—		420
Value Portfolio	20		21		17		18		76		18		17		22		18		75
Total Corporate	200		201		197		198		796		198		197		174		162		731
Merger & Significant Items	34		32		26		30		122		86		29		(9)		7		113
Standalone AT&T Depreciation and Amortization Expense	4,411		4,391		4,415		4,430		17,647		4,483		4,461		4,436		4,478		17,858
Standalone AT&T Merger & Significant items	(34)		(32)		(26)		(31)		(123)		(86)		(29)		9		(7)		(113)
Standalone AT&T Adjusted Depreciation and Amortization Expense	$	4,377	$	4,359	$	4,389	$	4,399	$	17,524	$	4,397	$	4,432	$	4,445	$	4,471	$	17,745

Operating Income	3/31/2020		6/30/2020		9/30/2020		12/31/2020		2020		3/31/2021		6/30/2021		9/30/2021		12/31/2021		2021
Mobility	$	5,894	$	5,919	$	5,798	$	5,190	$	22,801	$	6,044	$	6,007	$	5,987	$	5,332	$	23,370
Business Wireline	1,157		1,351		1,249		1,042		4,799		1,080		1,069		1,002		876		4,027
Consumer Wireline	539		415		224		284		1,462		307		308		179		202		996
Mexico	(145)		(173)		(143)		(126)		(587)		(134)		(129)		(130)		(117)		(510)
Segment Total	7,445		7,512		7,128		6,390		28,475		7,297		7,255		7,038		6,293		27,883
Corporate
DTV stranded costs	—		—		—		—		—		—		—		(141)		(289)		(430)
Estimated comparative adjustment for DTV retained cost	(530)		(530)		(530)		(530)		(2,120)		(530)		(530)		(177)		—		(1,237)
Parent administration support	(370)		(498)		(501)		(374)		(1,743)		(376)		(406)		(352)		(382)		(1,516)
Securitization fees	(28)		(6)		10		5		(19)		(27)		3		15		(19)		(28)
Value portfolio (including Invidi)	76		95		93		100		364		104		73		75		77		329
Total Corporate	(852)		(939)		(928)		(799)		(3,518)		(829)		(860)		(580)		(613)		(2,882)
Reclassification of prior service credits	(610)		(611)		(611)		(610)		(2,442)		(669)		(672)		(670)		(669)		(2,680)
Merger & Significant Items	716		(789)		30		(74)		(117)		(75)		64		(137)		(103)		(251)
Standalone AT&T Operating Income	6,699		5,173		5,619		4,907		22,398		5,724		5,787		5,651		4,908		22,070
Standalone AT&T Merger & Significant items	(716)		789		(30)		77		120		75		(64)		136		104		251
Standalone AT&T Adjusted Operating Income	$	5,983	$	5,962	$	5,589	$	4,984	$	22,518	$	5,799	$	5,723	$	5,787	$	5,012	$	22,321

EBITDA1	3/31/2020		6/30/2020		9/30/2020		12/31/2020		2020		3/31/2021		6/30/2021		9/30/2021		12/31/2021		2021
Mobility	$	7,939	$	7,931	$	7,819	$	7,198	$	30,887	$	8,058	$	8,030	$	8,022	$	7,382	$	31,492
Business Wireline	2,443		2,652		2,562		2,358		10,015		2,358		2,362		2,306		2,193		9,219
Consumer Wireline	1,251		1,145		958		1,022		4,376		1,069		1,077		954		991		4,091
Mexico	(11)		(58)		(19)		14		(74)		11		21		27		36		95
Segment Total	11,622		11,670		11,320		10,592		45,204		11,496		11,490		11,309		10,602		44,897
Corporate
DTV stranded costs	—		—		—		—		—		—		—		(49)		(145)		(194)
Estimated comparative adjustment for DTV retained cost	(350)		(350)		(350)		(350)		(1,400)		(350)		(350)		(117)		—		(817)
Parent administration support	(370)		(498)		(501)		(374)		(1,743)		(376)		(406)		(352)		(382)		(1,516)
Securitization fees	(28)		(6)		10		5		(19)		(27)		3		15		(19)		(28)
Value portfolio (including Invidi)	96		116		110		118		440		122		90		97		95		404
Total Corporate	(652)		(738)		(731)		(601)		(2,722)		(631)		(663)		(406)		(451)		(2,151)
Reclassification of prior service credits	(610)		(611)		(611)		(610)		(2,442)		(669)		(672)		(670)		(669)		(2,680)
Merger & Significant Items	750		(757)		56		(44)		5		11		93		(146)		(96)		(138)
Standalone AT&T EBITDA	11,110		9,564		10,034		9,337		40,045		10,207		10,248		10,087		9,386		39,928
Standalone AT&T Merger & Significant items	(750)		757		(56)		44		(5)		(11)		(93)		145		97		138
Standalone AT&T Adjusted EBITDA	$	10,360	$	10,321	$	9,978	$	9,381	$	40,040	$	10,196	$	10,155	$	10,232	$	9,483	$	40,066

1 EBITDA is operating income before depreciation and amortization. It excludes depreciation and amortization, interest expense, other income (expense) - net and income taxes from net income.