Document and Entity Information
Document and Entity Information - USD ($) $ in Billions | 12 Months Ended | ||
Dec. 31, 2022 | Feb. 08, 2023 | Jun. 30, 2022 | |
Entity Listings [Line Items] | |||
Document Type | 10-K | ||
Document Annual Report | true | ||
Document Period End Date | Dec. 31, 2022 | ||
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 | $ 149 | ||
Entity Common Stock, Shares Outstanding | 7,129,870,323 | ||
Documents Incorporated by Reference | Portions of AT&T Inc.’s Notice of 2022 Annual Meeting and Proxy Statement dated on or about April 3, 2023 to be filed within the period permitted under General Instruction G(3) (Part III). | ||
Amendment Flag | false | ||
Document Fiscal Year Focus | 2022 | ||
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. 2.500% 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, 2022 | |
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, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Operating Revenues | |||
Total operating revenues | $ 120,741 | $ 134,038 | $ 143,050 |
Cost of revenues | |||
Other cost of revenues (exclusive of depreciation and amortization shown separately below) | 26,839 | 28,616 | 29,989 |
Selling, general and administrative | 28,961 | 29,669 | 30,817 |
Asset impairments and abandonments and restructuring | 27,498 | 213 | 15,687 |
Depreciation and amortization | 18,021 | 17,852 | 22,523 |
Total operating expenses | 125,328 | 108,141 | 134,678 |
Operating Income (Loss) | (4,587) | 25,897 | 8,372 |
Other Income (Expense) | |||
Interest Expense | (6,108) | (6,716) | (7,727) |
Equity in net income of affiliates | 1,791 | 603 | 89 |
Other income (expense) – net | 5,810 | 9,387 | (1,088) |
Total other income (expense) | 1,493 | 3,274 | (8,726) |
Income (Loss) from Continuing Operations Before Income Taxes | (3,094) | 29,171 | (354) |
Income tax expense on continuing operations | 3,780 | 5,395 | 1,168 |
Income (Loss) from Continuing Operations | (6,874) | 23,776 | (1,522) |
Loss from discontinued operations, net of tax | (181) | (2,297) | (2,299) |
Net Income (Loss) | (7,055) | 21,479 | (3,821) |
Less: Net Income Attributable to Noncontrolling Interest | (1,469) | (1,398) | (1,355) |
Net Income (Loss) Attributable to AT&T | (8,524) | 20,081 | (5,176) |
Less: Preferred Stock Dividends | (203) | (207) | (193) |
Net Income (Loss) Attributable to Common Stock | $ (8,727) | $ 19,874 | $ (5,369) |
Basic Earnings (Loss) Per Share from continuing operations | $ (1.10) | $ 3.07 | $ (0.45) |
Basic Loss Per Share from discontinued operations | (0.03) | (0.30) | (0.30) |
Basic Earnings (Loss) Per Share Attributable to Common Stock | (1.13) | 2.77 | (0.75) |
Diluted Earnings (Loss) Per Share from continuing operations | (1.10) | 3.02 | (0.45) |
Diluted Loss Per Share from discontinued operations | (0.03) | (0.29) | (0.30) |
Diluted Earnings (Loss) Per Share Attributable to Common Stock | $ (1.13) | $ 2.73 | $ (0.75) |
Service | |||
Operating Revenues | |||
Total operating revenues | $ 97,831 | $ 111,565 | $ 124,057 |
Equipment | |||
Operating Revenues | |||
Total operating revenues | 22,910 | 22,473 | 18,993 |
Cost of revenues | |||
Cost of goods and services sold | 24,009 | 23,685 | 19,585 |
Broadcast, programming and operations | |||
Cost of revenues | |||
Cost of goods and services sold | $ 0 | $ 8,106 | $ 16,077 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Net Income (Loss) Attributable to Parent [Abstract] | |||
Net income (loss) | $ (7,055) | $ 21,479 | $ (3,821) |
Foreign Currency: | |||
Translation adjustment (includes $0, $(2) and $(59) attributable to noncontrolling interest), net of taxes of $90, $(44) and $(42) | 346 | (127) | (929) |
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Reclassification Adjustment from AOCI, Realized upon Sale or Liquidation, Net of Tax | 2,087 | 0 | |
Securities: | |||
Net unrealized gains (losses), net of taxes of $(49), $(21) and $27 | (143) | (63) | 78 |
Reclassification adjustment included in net income (loss), net of taxes of $3, $(1) and $(5) | 8 | (3) | (15) |
Derivative Instruments: | |||
Net unrealized gains (losses), net of taxes of $(183), $(192) and $(212) | (648) | (715) | (811) |
Reclassification adjustment included in net income (loss), net of taxes of $25, $19 and $18 | 96 | 72 | 69 |
Defined benefit postretirement plans: | |||
Net prior service (cost) credit arising during period, net of taxes of $583, $(8) and $735 | 1,787 | (34) | 2,250 |
Amortization of net prior service credit included in net income (loss), net of taxes of $(663), $(660) and $(601) | (2,028) | (2,020) | (1,841) |
Other comprehensive income (loss) | (763) | (803) | (1,199) |
Total comprehensive income (loss) | (7,818) | 20,676 | (5,020) |
Less: Total comprehensive income attributable to noncontrolling interest | (1,469) | (1,396) | (1,296) |
Total Comprehensive Income (Loss) Attributable to AT&T | (9,287) | 19,280 | (6,316) |
WarnerMedia | |||
Foreign Currency: | |||
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Reclassification Adjustment from AOCI, Realized upon Sale or Liquidation, Net of Tax | (182) | 0 | 0 |
Derivative Instruments: | |||
Distributions of WarnerMedia, net of taxes of $(12), $0 and $0 | (24) | 0 | 0 |
Defined benefit postretirement plans: | |||
Distributions of WarnerMedia, net of taxes of $5, $0 and $0 | $ 25 | $ 0 | $ 0 |
Consolidated Statements of Co_2
Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Tax [Abstract] | |||
Foreign currency translation adjustments, attributable to noncontrolling interest, net of taxes | $ 0 | $ (2) | $ (59) |
Foreign currency translation adjustments - tax effect | 90 | (44) | (42) |
Foreign Currency Transaction and Translation Reclassification Adjustment from AOCI, Realized upon Sale or Liquidation, Tax | 204 | 0 | |
OCI, Debt Securities, Available-for-Sale, Gain (Loss), before Adjustment, Tax [Abstract] | |||
Unrealized gains (losses) on securities - tax effect | (49) | (21) | 27 |
Reclassification adjustment included in net income on securities - tax effect | 3 | (1) | (5) |
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification, Tax [Abstract] | |||
Unrealized gains (losses) on derivatives - tax effect | (183) | (192) | (212) |
Reclassification adjustment included in net income on derivatives - tax effect | 25 | 19 | 18 |
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, Tax [Abstract] | |||
Net prior service credit (cost) arising during period - tax effect | 583 | (8) | 735 |
Amortization of net prior service credit included in net income - tax effect | (663) | (660) | (601) |
WarnerMedia | |||
Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Tax [Abstract] | |||
Foreign Currency Transaction and Translation Reclassification Adjustment from AOCI, Realized upon Sale or Liquidation, Tax | 38 | 0 | 0 |
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification, Tax [Abstract] | |||
Distribution of WarnerMedia - tax effect | 12 | 0 | 0 |
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, Tax [Abstract] | |||
Distribution of WarnerMedia - tax effect | $ (5) | $ 0 | $ 0 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Current Assets | ||
Cash and cash equivalents | $ 3,701 | $ 19,223 |
Accounts receivable – net of related allowance for credit loss of $588 and $658 | 11,466 | 12,313 |
Inventories | 3,123 | 3,325 |
Prepaid and other current assets | 14,818 | 16,131 |
Assets from discontinued operations | 0 | 119,776 |
Total current assets | 33,108 | 170,768 |
Property, Plant and Equipment – Net | 127,445 | 121,649 |
Goodwill – Net | 67,895 | 92,740 |
Licenses – Net | 124,092 | 113,830 |
Other Intangible Assets – Net | 5,354 | 5,391 |
Investments in and Advances to Equity Affiliates | 3,533 | 6,168 |
Operating Lease Right-Of-Use Assets | 21,814 | 21,824 |
Other Assets | 19,612 | 19,252 |
Total Assets | 402,853 | 551,622 |
Current Liabilities | ||
Debt maturing within one year | 7,467 | 24,620 |
Note payable to DIRECTV | 130 | 1,245 |
Accounts payable and accrued liabilities | 42,644 | 39,095 |
Advanced billings and customer deposits | 3,918 | 3,966 |
Dividends payable | 2,014 | 3,749 |
Liabilities from discontinued operations | 0 | 33,555 |
Total current liabilities | 56,173 | 106,230 |
Long-Term Debt | 128,423 | 151,011 |
Deferred Credits and Other Noncurrent Liabilities | ||
Deferred income taxes | 57,032 | 53,767 |
Postemployment benefit obligation | 7,260 | 12,560 |
Operating lease liabilities | 18,659 | 18,956 |
Other noncurrent liabilities | 28,849 | 25,243 |
Total deferred credits and other noncurrent liabilities | 111,800 | 110,526 |
Stockholders’ Equity | ||
Common stock ($1 par value, 14,000,000,000 authorized at December 31, 2022 and December 31, 2021: issued 7,620,748,598 at December 31, 2022 and December 31, 2021) | 7,621 | 7,621 |
Additional paid-in capital | 123,610 | 130,112 |
Retained (deficit) earnings | (19,415) | 42,350 |
Treasury stock (493,156,816 at December 31, 2022 and 479,684,705 at December 31, 2021, at cost) | (17,082) | (17,280) |
Accumulated other comprehensive income | 2,766 | 3,529 |
Noncontrolling interest | 8,957 | 17,523 |
Total stockholders’ equity | 106,457 | 183,855 |
Total Liabilities and Stockholders’ Equity | 402,853 | 551,622 |
Series A (48,000 issued and outstanding at December 31, 2022 and December 31, 2021) | ||
Stockholders’ Equity | ||
Preferred stock ($1 par value, 10,000,000 authorized at December 31, 2022 and December 31, 2021): | 0 | 0 |
Series B (20,000 issued and outstanding at December 31, 2022 and December 31, 2021) | ||
Stockholders’ Equity | ||
Preferred stock ($1 par value, 10,000,000 authorized at December 31, 2022 and December 31, 2021): | 0 | 0 |
Series C (70,000 issued and outstanding at December 31, 2022 and December 31, 2021) | ||
Stockholders’ Equity | ||
Preferred stock ($1 par value, 10,000,000 authorized at December 31, 2022 and December 31, 2021): | $ 0 | $ 0 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Allowances for credit losses | $ 588 | $ 658 |
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) | 493,156,816 | 479,684,705 |
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, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Operating Activities | |||
Net income (loss) | $ (6,874) | $ 23,776 | $ (1,522) |
Adjustments to reconcile income (loss) from continuing operations to net cash provided by operating activities from continuing operations: | |||
Depreciation and amortization | 18,021 | 17,852 | 22,523 |
Provision for uncollectible accounts | 1,865 | 1,241 | 1,798 |
Deferred income tax expense | 2,975 | 7,412 | 2,145 |
Net (gain) loss on investments, net of impairments | 381 | (369) | (970) |
Pension and postretirement benefit expense (credit) | (3,237) | (3,857) | (2,992) |
Actuarial (gain) loss on pension and postretirement benefits | (1,999) | (4,143) | 4,169 |
Asset impairments and abandonments and restructuring | 27,498 | 213 | 15,687 |
Changes in operating assets and liabilities: | |||
Receivables | 727 | (1,125) | 1,079 |
Other current assets | (674) | (1,288) | (2,138) |
Accounts payable and other accrued liabilities | (1,109) | (1,570) | (1,895) |
Equipment installment receivables and related sales | 154 | (271) | (1,428) |
Deferred customer contract acquisition and fulfillment costs | (947) | 18 | 382 |
Postretirement claims and contributions | (823) | (822) | (985) |
Other – net | (146) | 103 | 1,631 |
Total adjustments | 42,686 | 13,394 | 39,006 |
Net Cash Provided by Operating Activities from Continuing Operations | 35,812 | 37,170 | 37,484 |
Investing Activities | |||
Capital expenditures | (19,626) | (15,545) | (14,690) |
Acquisitions, net of cash acquired | (10,200) | (25,453) | (1,625) |
Dispositions | 199 | 7,136 | 2,472 |
Distributions from DIRECTV in excess of cumulative equity in earnings | 2,649 | 1,323 | 0 |
Other – net | 79 | 50 | 396 |
Net Cash Used in Investing Activities from Continuing Operations | (26,899) | (32,489) | (13,447) |
Financing Activities | |||
Net change in short-term borrowings with original maturities of three months or less | (519) | 1,316 | (17) |
Issuance of other short-term borrowings | 3,955 | 21,856 | 9,440 |
Repayment of other short-term borrowings | (18,345) | (7,510) | (9,467) |
Proceeds from Issuance of Long-Term Debt | 2,979 | 9,931 | 31,988 |
Repayment of long-term debt | (25,118) | (3,039) | (39,062) |
Note payable to DIRECTV, net of payments | (1,211) | 1,341 | 0 |
Payment of vendor financing | (4,697) | (4,596) | (2,966) |
Issuance of preferred stock | 0 | 0 | 3,869 |
Purchase of treasury stock | (890) | (202) | (5,498) |
Issuance of treasury stock | 28 | 96 | 105 |
Issuance of preferred interests in subsidiaries | 0 | 0 | 1,979 |
Redemption of preferred interest in subsidiary | (2,665) | 0 | (1,950) |
Dividends paid | (9,859) | (15,068) | (14,956) |
Other – net | (3,222) | (2,231) | (4,496) |
Net Cash (Used in) Provided by Financing Activities from Continuing Operations | (59,564) | 1,894 | (31,031) |
Net (decrease) increase in cash and cash equivalents and restricted cash from continuing operations | (50,651) | 6,575 | (6,994) |
Net Cash Provided by (Used in) Discontinued Operations [Abstract] | |||
Cash (used in) provided by operating activities | (3,789) | 4,788 | 5,645 |
Cash provided by (used in) investing activities | 1,094 | 399 | (102) |
Cash provided by (used in) financing activities | 35,823 | (316) | (974) |
Net increase (decrease) in cash and cash equivalents and restricted cash from discontinued operations | 33,128 | 4,871 | 4,569 |
Net (decrease) increase in cash and cash equivalents and restricted cash | (17,523) | 11,446 | (2,425) |
Cash and cash equivalents and restricted cash beginning of year | 21,316 | 9,870 | 12,295 |
Cash and Cash Equivalents and Restricted Cash End of Year | $ 3,793 | $ 21,316 | $ 9,870 |
Consolidated Statements Of Chan
Consolidated Statements Of Changes In Stockholders' Equity - USD ($) shares in Millions, $ in Millions | Total | Preferred Stock Preferred Stock – Series A | Preferred Stock Preferred Stock – Series B | Preferred Stock Preferred Stock – Series C | Common Stock | Additional Paid-In Capital | Additional Paid-In Capital Preferred Stock | Additional Paid-In Capital Common Stock | Retained (Deficit) Earnings | Retained (Deficit) Earnings Cumulative effect of accounting changes and other adjustments | Retained (Deficit) Earnings Adjusted beginning balance | Treasury Stock | Accumulated Other Comprehensive Income Attributable to AT&T, net of tax | Noncontrolling Interest | Noncontrolling Interest Cumulative effect of accounting changes and other adjustments | Noncontrolling Interest Adjusted beginning balance |
Balance at beginning 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 beginning of year (in shares) at Dec. 31, 2019 | 0 | 0 | 0 | 7,621 | (366) | |||||||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||||||||||
Distribution of WarnerMedia | 0 | 0 | ||||||||||||||
Repurchase and acquisition of common stock | $ 67 | |||||||||||||||
Issuance of stock | $ 3,869 | |||||||||||||||
Repurchase and acquisition of common stock | $ (5,631) | |||||||||||||||
Repurchase and acquisition common stock (in shares) | (150) | |||||||||||||||
Issuance of treasury stock | (62) | $ (806) | ||||||||||||||
Issuance of treasury stock (in shares) | 21 | |||||||||||||||
Share-based payments | 18 | |||||||||||||||
Acquisition or reclassification of interests held by noncontrolling owners | 4 | 0 | ||||||||||||||
Net income (loss) attributable to AT&T | (5,176) | (5,176) | ||||||||||||||
Preferred stock dividends | (139) | |||||||||||||||
Common stock dividends ($1.11, $2.08 and $2.08 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 (disposition) 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] | ||||||||||||||||
Distribution of WarnerMedia | 0 | 0 | ||||||||||||||
Repurchase and acquisition of common stock | 0 | |||||||||||||||
Issuance of stock | 0 | |||||||||||||||
Repurchase and acquisition of common stock | $ (662) | $ (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 | |||||||||||||||
Acquisition or reclassification of interests held by noncontrolling owners | 0 | 0 | ||||||||||||||
Net income (loss) attributable to AT&T | $ 20,081 | 20,081 | ||||||||||||||
Preferred stock dividends | (224) | |||||||||||||||
Common stock dividends ($1.11, $2.08 and $2.08 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 (disposition) 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 | $ 0 | $ 42,350 | $ (17,280) | 3,529 | 17,523 | $ 0 | $ 17,523 | ||
Balance at end of year (in shares) at Dec. 31, 2021 | 0 | 0 | 0 | 7,621 | (480) | |||||||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||||||||||
Distribution of WarnerMedia | (6,832) | (45,041) | ||||||||||||||
Repurchase and acquisition of common stock | $ 0 | |||||||||||||||
Issuance of stock | $ 0 | |||||||||||||||
Repurchase and acquisition of common stock | $ (890) | |||||||||||||||
Repurchase and acquisition common stock (in shares) | (34) | (44) | ||||||||||||||
Issuance of treasury stock | (171) | $ (1,088) | ||||||||||||||
Issuance of treasury stock (in shares) | 31 | |||||||||||||||
Share-based payments | (162) | |||||||||||||||
Acquisition or reclassification of interests held by noncontrolling owners | 663 | (5,997) | ||||||||||||||
Net income (loss) attributable to AT&T | $ (8,524) | (8,524) | ||||||||||||||
Preferred stock dividends | (207) | |||||||||||||||
Common stock dividends ($1.11, $2.08 and $2.08 per share) | (7,993) | |||||||||||||||
Other comprehensive income (loss) attributable to AT&T | (763) | (763) | ||||||||||||||
Net income attributable to noncontrolling interest | 1,469 | 1,469 | ||||||||||||||
Issuance and acquisition (disposition) of noncontrolling owners | (21) | |||||||||||||||
Redemption of noncontrolling interest | (2,665) | |||||||||||||||
Distributions | (1,352) | |||||||||||||||
Translation adjustments attributable to noncontrolling interest, net of taxes | 0 | 0 | ||||||||||||||
Balance at end of year at Dec. 31, 2022 | $ 106,457 | $ 0 | $ 0 | $ 0 | $ 7,621 | $ 123,610 | $ (19,415) | $ (17,082) | $ 2,766 | $ 8,957 | ||||||
Balance at end of year (in shares) at Dec. 31, 2022 | 0 | 0 | 0 | 7,621 | (493) |
Consolidated Statements Of Ch_2
Consolidated Statements Of Changes In Stockholders' Equity (Parenthetical) - $ / shares | 3 Months Ended | 12 Months Ended | |||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Statement of Stockholders' Equity [Abstract] | |||||
Dividends to stockholders (in dollars per share) | $ 0.2775 | $ 0.52 | $ 1.11 | $ 2.08 | $ 2.08 |
Summary Of Significant Accounti
Summary Of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2022 | |
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 and technology industries. On April 8, 2022, we completed the separation of our WarnerMedia business, which represented substantially all of our WarnerMedia segment, in a Reverse Morris Trust transaction, under which Magallanes, Inc. (Spinco), a formerly wholly-owned subsidiary of AT&T that held the WarnerMedia business, was distributed to AT&T stockholders via a pro rata dividend, followed by the combination of Spinco with a subsidiary of Discovery, Inc. (Discovery), which was renamed Warner Bros. Discovery, Inc. (WBD). (See Note 6) Upon the separation and distribution, the WarnerMedia business met the criteria for discontinued operations. For discontinued operations, we also evaluated transactions that were components of AT&T’s single plan of a strategic shift, including dispositions that previously did not individually meet the criteria due to materiality, and have determined discontinued operations to be comprised of WarnerMedia, Vrio, Xandr and Playdemic Ltd. (Playdemic). These businesses are reflected in the accompanying financial statements as discontinued operations, including for periods prior to the consummation of the WarnerMedia/Discovery transaction. (See Notes 6 and 23) 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, 10 and 19). 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 fair value, probable losses and expenses, that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. Moreover, unfavorable changes in market conditions, including interest rates, could adversely impact those estimates and result in asset impairments. Certain prior-period amounts have been conformed to the current period’s presentation. Unless otherwise noted, the information in Notes 1 through 22 and 24 refer only to our continuing operations and do not include discussion of balances or activity of WarnerMedia, Vrio, Xandr and Playdemic, which are part of discontinued operations. Adopted and New Accounting Standards Convertible Instruments Beginning with 2022 interim reporting, we adopted, through retrospective application, the Financial Accounting Standards Board’s (FASB) Accounting Standards Update (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 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 Series A Cumulative Perpetual Membership Interests in AT&T Mobility II LLC (Mobility preferred interests) in cash, settlement of this instrument in AT&T shares would result in additional dilutive impact, the magnitude of which is influenced by the fair value of the Mobility preferred interests and the average AT&T common stock price during the reporting period, which could vary from period-to-period (see Note 16). The following table presents the impact of the adoption of ASU 2020-06 on our diluted earnings per share from continuing operations: Historical Accounting Method Effect of Adoption of ASU 2020-06 1 Under ASU 2020-06 Diluted earnings per share from continuing operations: Year ended December 31, 2022 $ (1.10) $ — $ (1.10) Year ended December 31, 2021 $ 3.07 $ (0.05) $ 3.02 Year ended December 31, 2020 $ (0.45) $ — $ (0.45) 1 See Note 2 for a discussion of the numerator and denominator adjustments. 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, 2024. 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. 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 (e.g., terms and conditions, accounting treatment, impacted financial statement lines), 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. We adopted ASU 2021-10 effective for the annual reporting period ended December 31, 2022, as required, under prospective application, with no required updates to our disclosures. Credit Losses As of January 1, 2020, we adopted, through modified retrospective application, 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. Supplier Finance Obligations In September 2022, the FASB issued ASU No. 2022-04, “Liabilities – Supplier Finance Programs (Subtopic 405-50): Disclosure of Supplier Finance Program Obligations” (ASU 2022-04), which establishes interim and annual reporting disclosure requirements about a company’s supplier finance programs for its purchase of goods and services. Interim and annual requirements include disclosure of outstanding amounts under the obligations as of the end of the reporting period, and annual requirements include a rollforward of those obligations for the annual reporting period, as well as a description of payment and other key terms of the programs. ASU 2022-04 will be effective for interim and annual periods beginning after December 15, 2022, with retrospective application, except for the annual rollforward requirement, which becomes effective for annual periods beginning after December 15, 2023, with prospective application. The standard allows early adoption of all requirements. In the year of adoption, the disclosure of payment and other key terms under the programs and outstanding balances under the obligations will also apply to interim reporting dates. We are in the process of evaluating the impact of our adoption of ASU 2022-04. Accounting Policies 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, state and foreign 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 simplified 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, 2022, we held $866 in cash and $2,835 in money market funds and other cash equivalents. Of our total cash and cash equivalents, $1,045 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. 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 seven 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; 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 (see Note 9). 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. 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 economic lives (see Note 9). 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 are amortized using the straight-line method over the estimated useful life of the assets. 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. Advertising Costs We expense advertising costs for products and services or for promoting our corporate image as incurred (see Note 22). 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). 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 12). Pension and Other Postretirement Benefits See Note 14 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. |
Earnings Per Share
Earnings Per Share | 12 Months Ended |
Dec. 31, 2022 | |
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, 2022 2021 2020 Numerators Numerator for basic earnings per share: Income (loss) from continuing operations, net of tax $ (6,874) $ 23,776 $ (1,522) Net income from continuing operations attributable to noncontrolling interests (1,469) (1,485) (1,470) Preferred Stock Dividends (203) (207) (193) Income (loss) from continuing operations attributable to common stock (8,546) 22,084 (3,185) Adjustment to carrying value of noncontrolling interest 663 — — Numerator for basic earnings per share from continuing operations 1 (7,883) 22,084 (3,185) Loss from discontinued operations, net of tax (181) (2,297) (2,299) Loss from discontinued operations attributable to noncontrolling interests — 87 115 Loss from discontinued operations attributable to common stock (181) (2,210) (2,184) Numerator for basic earnings per share 1 $ (8,064) $ 19,874 $ (5,369) Dilutive potential common shares: Mobility preferred interests 2 526 560 560 Share-based payment 2 17 22 23 Numerator for diluted earnings per share $ (7,521) $ 20,456 $ (4,786) Denominators (000,000) Denominator for basic earnings per share: Weighted average number of common shares outstanding 7,166 7,168 7,157 Dilutive potential common shares: Mobility preferred interests (in shares) 378 304 283 Share-based payment (in shares) 43 31 26 Denominator for diluted earnings per share 2 7,587 7,503 7,466 1 For 2022, in the calculation of basic earnings per share, income (loss) attributable to common stock for continuing operations and total company has been increased by $663 from adjustment to carrying value of noncontrolling interest. (See Note 16) 2 For 2022 and 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
Other Comprehensive Income | 12 Months Ended |
Dec. 31, 2022 | |
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, 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 Other comprehensive income (loss) before reclassifications 346 (143) (648) 1,787 1,342 Amounts reclassified from accumulated OCI — 1 8 1 96 2 (2,028) 3 (1,924) Distribution of WarnerMedia (182) — (24) 25 (181) Net other comprehensive income (loss) 164 (135) (576) (216) (763) Balance as of December 31, 2022 $ (1,800) $ (90) $ (1,998) $ 6,654 $ 2,766 1 (Gains) losses are included in “Other income (expense) – net” in the consolidated statements of income. 2 (Gains) losses are primarily included in “Interest expense” in the consolidated statements of income (see Note 12). 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 14). 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, 2022 | |
Segment Reporting [Abstract] | |
Segment Information | NOTE 4. SEGMENT INFORMATION Our segments are comprised of strategic business units or other operations that offer products and services to different customer segments over various technology platforms and/or in different geographies that are managed accordingly. We have two reportable segments: Communications and Latin America. We also evaluate segment and business unit performance based on EBITDA and/or EBITDA margin, which is defined as operating income excluding depreciation and amortization. EBITDA is used as part of our management reporting and we believe EBITDA to be a relevant and useful measurement to our investors as it measures the cash generation potential of our business units. EBITDA does not give effect to depreciation and amortization expenses incurred in operating income 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 revenue. In the first quarter of 2022, we reclassified into “Corporate” certain administrative costs borne by AT&T where the business units do not influence decision making to conform with the current period presentation. This recast increased Corporate operations and support expenses by approximately $270 and $1,310 for full-year 2021 and 2020, respectively. Correspondingly, this recast lowered administrative expenses for the Communications segment and Video (our former U.S. video operations contributed to DIRECTV in July 2021), with no change on a consolidated basis. 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 ethernet-based fiber services, IP Voice and managed professional services, as well as traditional voice and data services and related equipment to business customers. • Consumer Wireline provides broadband services, including fiber connections that provide our multi-gig services to residential customers in select locations. Consumer Wireline also provides legacy telephony voice communication services. The Latin America segment provides wireless services and equipment in Mexico. Corporate and Other reconciles our segment results to consolidated operating income and income before income taxes. Corporate includes : • DTV-related retained costs , which are costs previously allocated to the Video business that were retained after the transaction, net of reimbursements from DIRECTV under transition service agreements. • Parent administration support , which includes costs borne by AT&T where the business units do not influence decision making. • Securitization fees associated with our sales of receivables (see Note 17). • Value portfolio , which are businesses no longer integral to our operations or which we no longer actively market. Other items consist of : • Video, which includes our former U.S. video operations that were contributed to DIRECTV on July 31, 2021, and our share of DIRECTV’s earnings as equity in net income of affiliates (see Note 19). • Held-for-sale and other reclassifications, which includes our former Crunchyroll, Government Solutions and wireless and wireline operations in Puerto Rico and the U.S. Virgin Islands. • Reclassification of prior service credits, which includes the reclassification of prior service credit amortization, where we present the impact of benefit plan amendments in our business unit results. Prior service credit amortization is presented in “Other income (expense) – net” in the consolidated statements of income and therefore has no impact on consolidated operating income or EBITDA. • Certain significant items , which includes items associated with the merger and integration of acquired or divested businesses, including amortization of intangible assets, employee separation charges associated with voluntary and/or strategic offers, asset impairments and abandonments and restructuring, and other items for which the segments are not being evaluated. • Eliminations and consolidations , removed transactions involving dealings between Mobility and our Video business, prior to the July 31, 2021 separation of Video. “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, 2022 Revenues Operations EBITDA Depreciation and Amortization Operating Communications Mobility $ 81,780 $ 49,054 $ 32,726 $ 8,198 $ 24,528 Business Wireline 22,538 13,972 8,566 5,314 3,252 Consumer Wireline 12,749 8,253 4,496 3,169 1,327 Total Communications 117,067 71,279 45,788 16,681 29,107 Latin America - Mexico 3,144 2,812 332 658 (326) Segment Total 120,211 74,091 46,120 17,339 28,781 Corporate and Other Corporate: DTV-related retained costs 8 737 (729) 549 (1,278) Parent administration support (32) 1,199 (1,231) 16 (1,247) Securitization fees 65 419 (354) — (354) Value portfolio 489 139 350 41 309 Total Corporate 530 2,494 (1,964) 606 (2,570) Reclassification of prior service credits — 2,691 (2,691) — (2,691) Certain significant items — 28,031 (28,031) 76 (28,107) Total Corporate and Other 530 33,216 (32,686) 682 (33,368) AT&T Inc. $ 120,741 $ 107,307 $ 13,434 $ 18,021 $ (4,587) For the year ended December 31, 2021 Revenues Operations EBITDA Depreciation Operating Communications Mobility $ 78,254 $ 46,762 $ 31,492 $ 8,122 $ 23,370 Business Wireline 23,937 14,718 9,219 5,192 4,027 Consumer Wireline 12,539 8,448 4,091 3,095 996 Total Communications 114,730 69,928 44,802 16,409 28,393 Latin America - Mexico 2,747 2,652 95 605 (510) Segment Total 117,477 72,580 44,897 17,014 27,883 Corporate and Other Corporate: DTV-related retained costs 49 243 (194) 236 (430) Parent administration support (18) 1,523 (1,541) 36 (1,577) Securitization fees 61 89 (28) — (28) Value portfolio 639 208 431 40 391 Total Corporate 731 2,063 (1,332) 312 (1,644) Video 15,513 12,666 2,847 356 2,491 Held-for-sale and other reclassifications 453 310 143 — 143 Reclassification of prior service credits — 2,680 (2,680) — (2,680) Certain significant items — 126 (126) 170 (296) Eliminations and consolidations (136) (136) — — — Total Corporate and Other 16,561 17,709 (1,148) 838 (1,986) AT&T Inc. $ 134,038 $ 90,289 $ 43,749 $ 17,852 $ 25,897 For the year ended December 31, 2020 Revenues Operations EBITDA Depreciation Operating Communications Mobility $ 72,564 $ 41,677 $ 30,887 $ 8,086 $ 22,801 Business Wireline 25,083 15,068 10,015 5,216 4,799 Consumer Wireline 12,318 7,942 4,376 2,914 1,462 Total Communications 109,965 64,687 45,278 16,216 29,062 Latin America - Mexico 2,562 2,636 (74) 513 (587) Segment Total 112,527 67,323 45,204 16,729 28,475 Corporate and Other Corporate: Parent administration support (62) 1,681 (1,743) 12 (1,755) Securitization fees 53 72 (19) — (19) Value portfolio 775 335 440 64 376 Total Corporate 766 2,088 (1,322) 76 (1,398) Video 28,610 24,174 4,436 2,262 2,174 Held-for-sale and other reclassifications 1,414 718 696 15 681 Reclassification of prior service credits — 2,442 (2,442) — (2,442) Certain significant items — 15,677 (15,677) 3,441 (19,118) Eliminations and consolidations (267) (267) — — — Total Corporate and Other 30,523 44,832 (14,309) 5,794 (20,103) AT&T Inc. $ 143,050 $ 112,155 $ 30,895 $ 22,523 $ 8,372 The following table is a reconciliation of operating income (loss) to “Income (Loss) from Continuing Operations Before Income Taxes” reported in our consolidated statements of income: 2022 2021 2020 Communications $ 29,107 $ 28,393 $ 29,062 Latin America (326) (510) (587) Segment Operating Income 28,781 27,883 28,475 Reconciling Items: Corporate (2,570) (1,644) (1,398) Video — 2,491 2,174 Held-for-sale and other reclassifications — 143 681 Transaction and other costs (425) (41) (1,064) Amortization of intangibles acquired (76) (170) (3,427) Asset impairments and abandonments and restructuring (27,498) (213) (15,687) Gain on spectrum transaction 1 — — 900 Benefit-related gains (losses) (108) 128 160 Reclassification of prior service credits (2,691) (2,680) (2,442) AT&T Operating Income (Loss) (4,587) 25,897 8,372 Interest Expense 6,108 6,716 7,727 Equity in net income of affiliates 1,791 603 89 Other income (expense) – net 5,810 9,387 (1,088) Income (Loss) from Continuing Operations Before Income Taxes $ (3,094) $ 29,171 $ (354) 1 Included as a reduction of “Selling, general and administrative” expense 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: 2022 2021 2020 Revenues Net Property, Plant & Equipment Revenues Net Property, Plant & Equipment Revenues Net Property, United States $ 116,006 $ 123,305 $ 129,157 $ 117,690 $ 138,188 $ 116,926 Mexico 3,210 3,718 2,824 3,460 2,651 3,528 Asia/Pacific Rim 592 124 747 136 816 170 Europe 584 201 907 249 1,022 347 Latin America 217 74 251 82 212 94 Other 132 23 152 32 161 39 Total $ 120,741 $ 127,445 $ 134,038 $ 121,649 $ 143,050 $ 121,104 The following table presents assets, investments in equity affiliates and capital expenditures by segment: At or for the years ended December 31, 2022 2021 Assets Investments in Capital Assets Investments in Capital Communications $ 471,444 $ — $ 18,962 $ 448,757 $ — $ 14,691 Latin America 8,408 — 360 8,874 — 319 Corporate and eliminations 1 (76,999) 3,533 304 93,991 6,168 535 Total $ 402,853 $ 3,533 $ 19,626 $ 551,622 $ 6,168 $ 15,545 1 Includes $119,776 of assets from discontinued operations at December 31, 2021. |
Revenue Recognition
Revenue Recognition | 12 Months Ended |
Dec. 31, 2022 | |
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 2022, 2021 or 2020. 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 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 standalone 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. Standalone selling prices are determined by assessing prices paid for service-only contracts (e.g., arrangements where customers bring their own devices) and standalone 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 standalone 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. Revenue Categories The following tables set forth reported revenue by category and by business unit: For the year ended December 31, 2022 Communications Mobility Business Wireline Consumer Wireline Latin America Corporate & Other Elim. Total Wireless service $ 60,499 $ — $ — $ 2,162 $ 13 $ — $ 62,674 Business service — 21,891 — — — — 21,891 Broadband — — 9,669 — — — 9,669 Legacy voice and data — — 1,746 — 323 — 2,069 Other — — 1,334 — 194 — 1,528 Total Service 60,499 21,891 12,749 2,162 530 — 97,831 Equipment 21,281 647 — 982 — — 22,910 Total $ 81,780 $ 22,538 $ 12,749 $ 3,144 $ 530 $ — $ 120,741 For the year ended December 31, 2021 Communications Mobility Business Wireline Consumer Wireline Latin America Corporate & Other Elim. Total Wireless service $ 57,590 $ — $ — $ 1,834 $ 74 $ — $ 59,498 Video service — — — — 15,423 — 15,423 Business service — 23,224 — — 70 — 23,294 Broadband — — 9,085 — — — 9,085 Legacy voice and data — — 1,977 — 429 — 2,406 Other — — 1,384 — 611 (136) 1,859 Total Service 57,590 23,224 12,446 1,834 16,607 (136) 111,565 Equipment 20,664 713 93 913 90 — 22,473 Total $ 78,254 $ 23,937 $ 12,539 $ 2,747 $ 16,697 $ (136) $ 134,038 For the year ended December 31, 2020 Communications Mobility Business Wireline Consumer Wireline Latin America Corporate & Other Elim. Total Wireless service $ 55,542 $ — $ — $ 1,656 $ 528 $ — $ 57,726 Video service — — — — 28,465 — 28,465 Business service — 24,313 — — 314 — 24,627 Broadband — — 8,534 — — — 8,534 Legacy voice and data — — 2,213 — 554 — 2,767 Other — — 1,564 — 641 (267) 1,938 Total Service 55,542 24,313 12,311 1,656 30,502 (267) 124,057 Equipment 17,022 770 7 906 288 — 18,993 Total $ 72,564 $ 25,083 $ 12,318 $ 2,562 $ 30,790 $ (267) $ 143,050 Deferred Customer Contract Acquisition and Fulfillment Costs Costs to acquire and fulfill customer contracts, including commissions on service activations, for our Mobility, 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. During the first quarter of 2022, we updated our analysis of expected economic lives of customer relationships. As of January 1, 2022, we extended the amortization period for deferred acquisition and fulfillment contract costs within Mobility, Consumer Wireline and Business Wireline to better reflect the estimated economic lives of the relationships. These changes in accounting estimate decreased other cost of revenues approximately $395, or $0.04 per diluted share from continuing operations for the year ended December 31, 2022. The following table presents the deferred customer contract acquisition and fulfillment costs included on our consolidated balance sheets at December 31: Consolidated Balance Sheets 2022 2021 Deferred Acquisition Costs Prepaid and other current assets $ 2,893 $ 2,551 Other Assets 3,913 3,247 Total deferred customer contract acquisition costs $ 6,806 $ 5,798 Deferred Fulfillment Costs Prepaid and other current assets $ 2,481 $ 2,600 Other Assets 4,206 4,148 Total deferred customer contract fulfillment costs $ 6,687 $ 6,748 The following table presents deferred customer contract acquisition and fulfillment cost amortization included in “Other cost of revenue” for the years ended December 31: Consolidated Statements of Income 2022 2021 1 Deferred acquisition cost amortization $ 2,935 $ 2,965 Deferred fulfillment cost amortization 2,688 4,014 1 Includes deferred acquisition amortization of $409 and deferred fulfillment cost amortization of $1,162 from our separated Video business for the year ended December 31, 2021. 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 2022 2021 Contract asset $ 5,512 $ 4,389 Current portion in “Prepaid and other current assets” 2,941 2,582 Contract liability 4,170 4,133 Current portion in “Advanced billings and customer deposits” 3,816 3,776 Our contract asset balance in 2022 reflects increased promotional equipment sales in our wireless business. We expect the amortization of these promotional costs to flatten in 2023. Our beginning of period contract liabilities recorded as customer contract revenue during 2022 was $3,795. Remaining Performance Obligations Remaining performance obligations 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 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, 2022, the aggregate amount of the transaction price allocated to remaining performance obligations was $35,800, of which we expect to recognize approximately 76% by the end of 2024, with the balance recognized thereafter. |
Acquisitions, Dispositions And
Acquisitions, Dispositions And Other Adjustments | 12 Months Ended |
Dec. 31, 2022 | |
Business Combination and Asset Acquisition [Abstract] | |
Acquisitions, Dispositions And Other Adjustments | NOTE 6. ACQUISITIONS, DISPOSITIONS AND OTHER ADJUSTMENTS Acquisitions Spectrum Auctions On January 14, 2022, the Federal Communications Commission (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 paid the remaining $8,956 in the first quarter of 2022, for a total of $9,079. We funded the purchase price using cash and short-term investments. We received the licenses in May 2022 and classified the auction deposits and related capitalized interest as “Licenses – Net” on our December 31, 2022 consolidated balance sheet. In February 2021, the 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 $1,100 of compensable relocation costs over the next several years as the spectrum is being cleared by satellite operators, of which we paid $650 in the fourth quarter of 2021 and $98 in the third quarter of 2022. 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. 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. 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. 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 of 2021, 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 (see Note 19). 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 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. Operations in Puerto Rico On October 31, 2020, we completed the sale of our 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. 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. Dispositions Reflected as Discontinued Operations WarnerMedia On April 8, 2022, we completed the separation and distribution of our WarnerMedia business, and merger of Spinco, an AT&T subsidiary formed to hold the WarnerMedia business, with a subsidiary of Discovery, Inc., which was renamed Warner Bros. Discovery, Inc (WBD). Each AT&T shareholder was entitled to receive 0.241917 shares of WBD common stock for each share of AT&T common stock held as of the record date, which represented approximately 71% of WBD. In connection with and in accordance with the terms of the Separation and Distribution Agreement (SDA), prior to the distribution and merger, AT&T received approximately $40,400, which includes $38,800 of Spinco cash and $1,600 of debt retained by WarnerMedia. During the second quarter of 2022, assets of approximately $121,100 and liabilities of $70,600 were removed from our balance sheet as well as $45,041 of retained earnings and $5,632 of additional paid-in capital associated with the transaction. Additionally, in August 2022, we and WBD finalized the post-closing adjustment, pursuant to Section 1.3 of the SDA, which resulted in a $1,200 payment to WBD in the third quarter of 2022 and was reflected in the balance sheet as an adjustment to additional paid-in capital. (See Note 23) AT&T, Spinco and Discovery entered into a Tax Matters Agreement, which governs the parties’ rights, responsibilities and obligations with respect to tax liabilities and benefits, the preservation of the expected tax-free status of the transactions contemplated by the SDA, and other matters regarding taxes. Xandr On June 6, 2022, we completed the sale of the marketplace component of Xandr to Microsoft Corporation. Xandr was reflected in our historical financial statements as discontinued operations. 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. 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 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. |
Property, Plant And Equipment
Property, Plant And Equipment | 12 Months Ended |
Dec. 31, 2022 | |
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) 2022 2021 Land - $ 1,381 $ 1,401 Buildings and improvements 2-44 38,751 38,204 Central office equipment 1 3-10 98,468 97,070 Cable, wiring and conduit 15-50 84,447 79,961 Satellites 14-17 103 103 Other equipment 3-20 81,658 85,929 Software 3-7 17,640 16,520 Under construction - 7,182 5,425 329,630 324,613 Accumulated depreciation and amortization 202,185 202,964 Property, plant and equipment – net $ 127,445 $ 121,649 1 Includes certain network software. Our depreciation expense was $17,852 in 2022, $17,634 in 2021, and $19,028 in 2020. Depreciation expense included amortization of software totaling $2,972 in 2022, $2,909 in 2021 and $3,343 in 2020. In December 2022, we recorded a noncash pre-tax charge of $1,413 to abandon conduits that will not be utilized to support future network activity. The abandonment was considered outside the ordinary course of business. During the first quarter of 2022, we updated our analysis of economic lives of AT&T owned fiber network assets. As of January 1, 2022, we extended the estimated economic life and depreciation period of such costs to better reflect the physical life of the assets that we had been experiencing and absence of technological changes that would replace fiber as the best broadband technology in the industry. The change in accounting estimate decreased depreciation expense $280, or $0.03 per diluted share from continuing operations for the year ended December 31, 2022. 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 related to property, plant and equipment, including satellites. The reduced carrying amounts of the impaired assets became their new cost basis. |
Leases
Leases | 12 Months Ended |
Dec. 31, 2022 | |
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: 2022 2021 2020 Operating lease cost $ 5,437 $ 5,363 $ 5,331 Finance lease cost: Amortization of right-of-use assets $ 204 $ 179 $ 185 Interest on lease obligation 159 145 133 Total finance lease cost $ 363 $ 324 $ 318 The following table provides supplemental cash flows information related to leases: 2022 2021 2020 Cash Flows from Operating Activities Cash paid for amounts included in lease obligations: Operating cash flows from operating leases $ 4,679 $ 4,580 $ 4,496 Supplemental Lease Cash Flow Disclosures Operating lease right-of-use assets obtained in exchange for new operating lease obligations 3,751 3,396 4,057 The following tables set forth supplemental balance sheet information related to leases at December 31: 2022 2021 Operating Leases Operating lease right-of-use assets $ 21,814 $ 21,824 Accounts payable and accrued liabilities $ 3,547 $ 3,393 Operating lease obligation 18,659 18,956 Total operating lease obligation $ 22,206 $ 22,349 Finance Leases Property, plant and equipment, at cost $ 2,770 $ 2,494 Accumulated depreciation and amortization (1,224) (1,053) Property, plant and equipment – net $ 1,546 $ 1,441 Current portion of long-term debt $ 170 $ 127 Long-term debt 1,647 1,442 Total finance lease obligation $ 1,817 $ 1,569 2022 2021 Weighted-Average Remaining Lease Term (years) Operating leases 8.1 8.2 Finance leases 7.9 8.9 Weighted-Average Discount Rate Operating leases 3.7 % 3.7 % Finance leases 8.0 % 8.2 % The following table provides the expected future minimum maturities of lease obligations: At December 31, 2022 Operating Leases Finance 2023 $ 4,657 $ 315 2024 4,203 306 2025 3,543 315 2026 2,830 291 2027 2,302 290 Thereafter 8,933 1,032 Total lease payments 26,468 2,549 Less: imputed interest (4,262) (732) Total $ 22,206 $ 1,817 |
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: 2022 2021 2020 Operating lease cost $ 5,437 $ 5,363 $ 5,331 Finance lease cost: Amortization of right-of-use assets $ 204 $ 179 $ 185 Interest on lease obligation 159 145 133 Total finance lease cost $ 363 $ 324 $ 318 The following table provides supplemental cash flows information related to leases: 2022 2021 2020 Cash Flows from Operating Activities Cash paid for amounts included in lease obligations: Operating cash flows from operating leases $ 4,679 $ 4,580 $ 4,496 Supplemental Lease Cash Flow Disclosures Operating lease right-of-use assets obtained in exchange for new operating lease obligations 3,751 3,396 4,057 The following tables set forth supplemental balance sheet information related to leases at December 31: 2022 2021 Operating Leases Operating lease right-of-use assets $ 21,814 $ 21,824 Accounts payable and accrued liabilities $ 3,547 $ 3,393 Operating lease obligation 18,659 18,956 Total operating lease obligation $ 22,206 $ 22,349 Finance Leases Property, plant and equipment, at cost $ 2,770 $ 2,494 Accumulated depreciation and amortization (1,224) (1,053) Property, plant and equipment – net $ 1,546 $ 1,441 Current portion of long-term debt $ 170 $ 127 Long-term debt 1,647 1,442 Total finance lease obligation $ 1,817 $ 1,569 2022 2021 Weighted-Average Remaining Lease Term (years) Operating leases 8.1 8.2 Finance leases 7.9 8.9 Weighted-Average Discount Rate Operating leases 3.7 % 3.7 % Finance leases 8.0 % 8.2 % The following table provides the expected future minimum maturities of lease obligations: At December 31, 2022 Operating Leases Finance 2023 $ 4,657 $ 315 2024 4,203 306 2025 3,543 315 2026 2,830 291 2027 2,302 290 Thereafter 8,933 1,032 Total lease payments 26,468 2,549 Less: imputed interest (4,262) (732) Total $ 22,206 $ 1,817 |
Goodwill And Other Intangible A
Goodwill And Other Intangible Assets | 12 Months Ended |
Dec. 31, 2022 | |
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, 2022, the calculated fair value of the Mobility reporting unit exceeded its book value; we recorded noncash impairment charges of $13,478 in our Business Wireline reporting unit, $10,508 in our Consumer Wireline reporting unit and $826 in our Mexico reporting unit. The decline in fair values was primarily due to changes in the macroeconomic environment, namely increased weighted-average cost of capital. Also, inflation pressure and lower projected cash flows driven by secular declines, predominantly at Business Wireline, impacted the fair values. A combination of discounted cash flow and market multiple approaches was used to determine the fair values. In the Communications segment, if all other assumptions were to remain unchanged, we expect the impairment charge would increase by approximately $3,400 if the weighted average cost of capital increased by 25 basis points, or $2,100 if the projected terminal growth rate declined by 25 basis points, or $2,800 if the projected long-term EBITDA margin declined 100 basis points. Changes to our goodwill in 2022 primarily resulted from noncash impairments. Changes to our goodwill in 2021 primarily resulted from the sale of our Government Solutions business. At December 31, 2022, our Communications segment has three reporting units: Mobility, Business Wireline and Consumer Wireline. The reporting unit is deemed to be the operating segment for Latin America. The following table sets forth the changes in the carrying amounts of goodwill by operating segment: 2022 2021 Balance at Impairments Dispositions, Balance at Balance at Dispositions, Balance at Communications Goodwill $ 91,924 $ — $ (43) $ 91,881 $ 91,976 $ (52) $ 91,924 Impairments — (23,986) — (23,986) — — — Net goodwill 91,924 (23,986) (43) 67,895 91,976 (52) 91,924 Latin America 816 (826) 10 — 836 (20) 816 Total $ 92,740 $ (24,812) $ (33) $ 67,895 $ 92,812 $ (72) $ 92,740 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. Indefinite-lived wireless licenses increased in 2022 primarily due to recent auction activity and $1,120 of capitalized interest (see Note 6). 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. Indefinite-lived wireless licenses increased in 2021 primarily due to auction activity, compensable relocation and incentive payments, and capitalized interest (see Notes 6 and 22). Our other intangible assets at December 31 are summarized as follows: 2022 2021 Other Intangible Assets Weighted-Average Life Gross Carrying Accumulated Currency Gross Carrying Accumulated Currency Amortized intangible assets: Wireless licenses 21.6 years $ 3,045 $ 425 $ (297) $ 3,083 $ 307 $ (440) Trademarks and trade names 15.0 years 26 11 (6) 27 11 (7) Customer lists and relationships 12.6 years 413 304 (75) 577 429 (98) Other 8.5 years 304 234 — 349 258 — Total 21.1 years $ 3,788 $ 974 $ (378) $ 4,036 $ 1,005 $ (545) Indefinite-lived intangible assets not subject to amortization: Wireless licenses $ 121,769 $ 111,494 Trade names 5,241 5,241 Total $ 127,010 $ 116,735 |
Equity Method Investments
Equity Method Investments | 12 Months Ended |
Dec. 31, 2022 | |
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. Our investments in equity affiliates at December 31, 2022 primarily included our interests in DIRECTV and SKY Mexico. 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 in 2021. • Junior preferred units with distribution rights of $4,250 held by AT&T, of which $702 of distribution rights remain as of December 31, 2022. • 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 2022 and 2021, we recognized $1,808 and $619 of equity in net income of affiliates and received total distributions of $4,457 and $1,942, respectively, from DIRECTV. The book value of our investment in DIRECTV was $2,911 and $5,539 at December 31, 2022 and 2021. 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 following table presents summarized financial information for DIRECTV and our other equity method investments, consisting primarily of SKY Mexico and certain sports-related programming investments, at December 31, or for the year then ended: 2022 2021 2020 Income Statements 1 Operating revenues $ 25,794 $ 12,220 $ 1,282 Operating income 3,175 1,179 157 Net income 2,581 938 91 Balance Sheets Current assets 4,240 5,295 Noncurrent assets 14,211 17,022 Current liabilities 6,681 7,191 Noncurrent liabilities 7,951 8,614 1 Does not include DIRECTV for periods prior to August 1, 2021. The following table is a reconciliation of our investments in equity affiliates as presented on our consolidated balance sheets: 2022 2021 Beginning of year $ 6,168 $ 742 Additional investments 3 — Receipt of equity interest in DIRECTV — 6,852 Distributions from DIRECTV in excess of cumulative equity in earnings (2,649) (1,323) Other capital distributions — (6) Dividends and distributions of cumulative earnings received (1,815) (701) Equity in net income of affiliates 1,791 603 Currency translation adjustments 25 (14) Other adjustments 10 15 End of year $ 3,533 $ 6,168 |
Debt
Debt | 12 Months Ended |
Dec. 31, 2022 | |
Debt Disclosure [Abstract] | |
Debt | NOTE 11. DEBT Long-term debt of AT&T and its subsidiaries, including interest rates and maturities, is summarized as follows at December 31: 2022 2021 Notes and debentures Interest Rates 1 Maturities 0.00% - 2.99% 2022 - 2039 $ 24,603 $ 31,612 3.00% - 4.99% 2022 - 2061 91,201 107,635 5.00% - 6.99% 2022 - 2095 20,083 23,023 7.00% - 12.00% 2022 - 2097 4,884 5,056 Credit agreement borrowings 2,500 10,400 Fair value of interest rate swaps recorded in debt 13 16 143,284 177,742 Unamortized (discount) premium – net (9,650) (9,758) Unamortized issuance costs (427) (508) Total notes and debentures 133,207 167,476 Finance lease obligations 1,817 1,569 Total long-term debt, including current maturities 135,024 169,045 Current maturities of long-term debt (6,601) (7,934) Current maturities of credit agreement borrowings — (10,100) Total long-term debt $ 128,423 $ 151,011 1 Foreign debt includes the impact from hedges, when applicable. We had outstanding Euro, British pound sterling, Canadian dollar, Mexican peso, Australian dollar, and Swiss franc denominated debt of approximately $35,525 and $41,063 at December 31, 2022 and 2021, respectively. The weighted-average interest rate of our long-term debt portfolio, including credit agreement borrowings and the impact of derivatives, was approximately 4.1% as of December 31, 2022 and 3.8% as of December 31, 2021. Debt maturing within one year consisted of the following at December 31: 2022 2021 Current maturities of long-term debt $ 6,601 $ 7,934 Commercial paper 866 6,586 Credit agreement borrowings — 10,100 Total $ 7,467 $ 24,620 Financing Activities During 2022, we received net proceeds of $479 on the issuance of $479 in long-term debt and proceeds of $3,250 on the issuance of credit agreement borrowings in various markets, with an average weighted maturity of approximately 2.0 years and a weighted average interest rate of 5.2%. We repaid $34,835 of long-term debt and credit agreement borrowings with a weighted average interest rate of 3.1%. Our debt activity during 2022 primarily consisted of the following: First Second Third Fourth Full Year 2022 Net commercial paper borrowings $ 1,471 $ (5,219) $ (724) $ (1,337) $ (5,809) Issuance of Notes and Debentures: Private Financing $ — $ — $ 750 $ — $ 750 2025 Term Loan — — — 2,500 2,500 Other 479 — — — 479 Debt Issuances $ 479 $ — $ 750 $ 2,500 $ 3,729 Repayments: 2021 Syndicated Term Loan $ — $ (7,350) $ — $ — $ (7,350) BAML Bilateral Term Loan – Tranche A — (1,000) — — (1,000) Private financing — (750) — (750) (1,500) Repayment of other short-term borrowings $ — $ (9,100) $ — $ (750) $ (9,850) USD notes 1,2,3 $ (123) $ (18,957) $ — $ (287) $ (19,367) Euro notes — (3,343) — — (3,343) BAML Bilateral Term Loan – Tranche B — (1,000) — — (1,000) Other (667) (123) (199) (419) (1,408) Repayments of long-term debt $ (790) $ (23,423) $ (199) $ (706) $ (25,118) 1 On April 11, 2022, we issued notices for the redemption in full of all of the outstanding approximately $9,042 aggregate principal amount of various global notes due 2022 to 2026 with coupon rates ranging from 2.625% to 4.450% (Make-Whole Notes). The Make-Whole Notes were redeemed on the redemption dates set forth in the notices of redemption, at “make whole” redemption prices calculated as set forth in the respective redemption notices in the second quarter. 2 Includes $7,954 of cash paid toward the $8,822 aggregate principal amount of various notes that were tendered for cash in May 2022. The notes had interest rates ranging between 3.100% and 8.750% and original maturities ranging from 2026 to 2061. 3 Includes $287 of principal repayment on a $592 zero coupon note that matured in November 2022. The other $305 was applied to operating cash flows related to interest expense that accreted to the note over its life. As of December 31, 2022 and 2021, 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, 2022, and the corresponding weighted-average interest rate scheduled for repayment are as follows: 2023 2024 2025 2026 2027 Thereafter Debt repayments 1 $ 6,929 $ 8,950 $ 5,948 $ 8,619 $ 6,278 $ 110,949 Weighted-average interest rate 2 3.7 % 4.1 % 5.5 % 3.1 % 3.7 % 4.2 % 1 Debt repayments represent maturity value. Foreign debt includes the impact from hedges, when applicable. Includes credit agreement borrowings. 2 Includes credit agreement borrowings. Credit Facilities General 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. In the first quarter of 2022, the maturity date of the 2021 Syndicated Term Loan was extended to December 31, 2022. On April 13, 2022, the 2021 Syndicated Term Loan was paid off and terminated. 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. On April 13, 2022, the BAML Bilateral Term Loan was paid off and terminated. In November 2022, we entered into and drew on a $2,500 term loan agreement due February 16, 2025 (2025 Term Loan), with Mizuho Bank, Ltd., as agent. As of December 31, 2022, $2,500 was outstanding under this agreement. Revolving Credit Agreements In November 2022, we terminated one of our revolving credit agreements and amended and restated the other. We currently have one $12,000 revolving credit agreement that terminates on November 18, 2027 (Revolving Credit Agreement). No amounts were outstanding as of December 31, 2022. Each of our credit and loan agreements contains covenants that are customary for an issuer with an investment grade senior debt credit rating. Our Revolving Credit Agreement and 2025 Term Loan include a net debt-to-EBITDA financial ratio covenant requiring AT&T to maintain, as of the last day of each fiscal quarter, a ratio of not more than 3.75-to-1. Other loan agreements include 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. 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 the Revolving Credit Agreement to provide advances will terminate on November 18, 2027, 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 Revolving Credit Agreement. The Revolving Credit Agreement provides that we and lenders representing more than 50% of the facility amount may agree to extend their commitments under the 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 the credit agreement in excess of any outstanding advances; however, any such terminated commitments may not be reinstated. Advances under the Revolving Credit Agreement 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 forward-looking term rate based on the secured overnight financing rate (“Term SOFR”) for a period of one month plus a credit spread adjustment of 0.10% plus 1.00%, plus (2) an applicable margin, as set forth in the credit agreement (the “Applicable Margin for Base Advances”); or • at a rate equal to: (i) Term SOFR for a period of one, three or six months, as applicable, plus (ii) a credit spread adjustment of 0.10% plus (iii) an applicable margin, as set forth in the Revolving Credit Agreement (the “Applicable Margin for Benchmark Rate Advances”). We pay a facility fee of 0.060%, 0.070%, 0.080% or 0.100% 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, 2022 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements And Disclosure | NOTE 12. 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, 2021. 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, 2022 December 31, 2021 Carrying Fair Carrying Fair Notes and debentures 1 $ 133,207 $ 122,524 $ 167,476 $ 193,068 Commercial paper 866 866 6,586 6,586 Investment securities 2 2,692 2,692 3,214 3,214 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, 2022 and December 31, 2021. 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, 2022 Level 1 Level 2 Level 3 Total Equity Securities Domestic equities $ 995 $ — $ — $ 995 International equities 198 — — 198 Fixed income equities 189 — — 189 Available-for-Sale Debt Securities — 1,132 — 1,132 Asset Derivatives Cross-currency swaps — 28 — 28 Liability Derivatives Cross-currency swaps — (6,010) — (6,010) Foreign exchange contracts — (23) — (23) December 31, 2021 Level 1 Level 2 Level 3 Total Equity Securities Domestic equities $ 1,213 $ — $ — $ 1,213 International equities 221 — — 221 Fixed income equities 219 — — 219 Available-for-Sale Debt Securities — 1,380 — 1,380 Asset Derivatives Cross-currency swaps — 211 — 211 Liability Derivatives Cross-currency swaps — (3,170) — (3,170) 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, 2022 2021 2020 Total gains (losses) recognized on equity securities $ (309) $ 293 $ 171 Gains (Losses) recognized on equity securities sold (80) (5) (25) Unrealized gains (losses) recognized on equity securities held at end of period $ (229) $ 298 $ 196 At December 31, 2022, available-for-sale debt securities totaling $1,132 have maturities as follows - less than one year: $38; one to three years: $158; three to five years: $170; five or more years: $766. 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 most of our cross-currency swaps and foreign exchange contracts 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 cross-currency hedges, we have elected to exclude the change in fair value of the swap related to both time value and cross-currency basis spread from the assessment of hedge effectiveness. For foreign exchange contracts, we have elected to exclude the change in fair value of forward points 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 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 market value as liabilities. Except for excluded components, changes in the fair value of derivative instruments designated as fair value hedges are offset against the change in fair value of the hedged assets or liabilities through earnings. In the years ended December 31, 2022 and 2021, no ineffectiveness was measured on fair value hedges. Cash Flow Hedging We designated some of our cross-currency swaps as cash flow hedges 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. On September 30, 2022, we de-designated most of our cross-currency swaps from cash flow hedges and re-designated these swaps as fair value hedges. The amount remaining in accumulated other comprehensive loss related to cash flow hedges on the de-designation date was $1,857. The amount will be reclassified to earnings when the hedged item is recognized in earnings or when it becomes probable that the forecasted transactions will not occur. The election of fair value hedge designation for cross-currency swaps does not have an impact on our financial results. 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 $59 from accumulated OCI to “Interest expense” due to the amortization of net losses on historical interest rate locks. 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, 2022, we had posted collateral of $886 (a deposit asset) and held collateral of $0 (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 $42. 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 $5,728. At December 31, 2021, we had posted collateral of $135 (a deposit asset) and held collateral of $7 (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: 2022 2021 Cross-currency swaps $ 38,213 $ 40,737 Foreign exchange contracts 617 — Total $ 38,830 $ 40,737 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, 2022 2021 2020 Interest rate swaps (Interest expense): Gain (Loss) on interest rate swaps $ (3) $ (4) $ (6) Gain (Loss) on long-term debt 3 4 6 Cross-currency swaps: Gain (Loss) on cross-currency swaps 2,195 (91) — Gain (Loss) on long-term debt (2,195) 91 — Gain (Loss) recognized in accumulated OCI 297 (17) — Foreign exchange contracts: Gain (Loss) on foreign exchange contracts (12) — — Gain (Loss) on long-term debt 12 — — Gain (Loss) recognized in accumulated OCI (12) — — 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, 2022 2021 2020 Cross-currency swaps: Gain (Loss) recognized in accumulated OCI $ (1,119) $ (873) $ (378) Foreign exchange contracts: Gain (Loss) recognized in accumulated OCI 3 (17) 3 Other income (expense) – net reclassified from accumulated OCI into income 1 1 (3) Interest rate locks: Gain (Loss) recognized in accumulated OCI — — (648) Interest income (expense) reclassified from accumulated OCI into income (65) (92) (84) Other income (expense) reclassified from accumulated OCI into income (45) — — Distribution of WarnerMedia (12) — — Nonrecurring Fair Value Measurements |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2022 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | NOTE 13. INCOME TAXES Significant components of our deferred tax liabilities (assets) are as follows at December 31: 2022 2021 Depreciation and amortization $ 36,570 $ 35,894 Licenses and nonamortizable intangibles 19,339 15,573 Employee benefits (2,251) (3,178) Deferred fulfillment costs 1,989 1,797 Equity in partnership 3,284 3,285 Net operating loss and other carryforwards (5,817) (6,109) Other – net (343) 2,153 Subtotal 52,771 49,415 Deferred tax assets valuation allowance 4,175 4,343 Net deferred tax liabilities $ 56,946 $ 53,758 Noncurrent deferred tax liabilities $ 57,032 $ 53,767 Less: Noncurrent deferred tax assets (86) (9) Net deferred tax liabilities $ 56,946 $ 53,758 At December 31, 2022, we had combined net operating and capital loss carryforwards (tax effected) for federal income tax purposes of $892, state of $747 and foreign of $2,441, expiring through 2042. Additionally, we had federal credit carryforwards of $293 and state credit carryforwards of $1,444, expiring primarily through 2042. 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, 2022 and 2021 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 2022 and 2021 is as follows: Federal, State and Foreign Tax 2022 2021 Balance at beginning of year $ 8,954 $ 9,415 Increases for tax positions related to the current year 1,389 677 Increases for tax positions related to prior years 577 332 Decreases for tax positions related to prior years (1,079) (1,169) Lapse of statute of limitations (2) (6) Settlements (182) (295) Balance at end of year 9,657 8,954 Accrued interest and penalties 1,930 2,054 Gross unrecognized income tax benefits 11,587 11,008 Less: Deferred federal and state income tax benefits (723) (728) Less: Tax attributable to timing items included above (4,640) (3,428) Total UTB that, if recognized, would impact the effective income tax rate as of the end of the year $ 6,224 $ 6,852 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 $1,767 at December 31, 2022 and $377 at December 31, 2021. Accrued interest and penalties included in UTBs were $1,930 as of December 31, 2022 and $2,054 as of December 31, 2021. 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 $(86) for 2022, $(129) for 2021 and $127 for 2020. 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 2015. 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: 2022 2021 2020 Federal: Current $ 579 $ (2,400) $ (346) Deferred 2,206 6,872 858 2,785 4,472 512 State and local: Current 21 289 338 Deferred 912 648 272 933 937 610 Foreign: Current 106 (66) 14 Deferred (44) 52 32 62 (14) 46 Total $ 3,780 $ 5,395 $ 1,168 “Income (Loss) from Continuing Operations Before Income Taxes” in the Consolidated Statements of Income included the following components for the years ended December 31: 2022 2021 2020 U.S. income (loss) before income taxes $ (1,480) $ 29,678 $ 510 Foreign income (loss) before income taxes (1,614) (507) (864) Total $ (3,094) $ 29,171 $ (354) A reconciliation of income tax expense (benefit) on continuing operations 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: 2022 2021 2020 Taxes computed at federal statutory rate $ (650) $ 6,126 $ (74) Increases (decreases) in income taxes resulting from: State and local income taxes – net of federal income tax benefit 795 936 170 CARES Act federal NOL carryback — (471) — Tax on foreign investments 43 47 (124) Noncontrolling interest (308) (291) (286) Permanent items and R&D credit (121) (153) (195) Audit resolutions (642) (220) (112) Divestitures (481) (558) 107 Goodwill impairment 1 5,210 16 1,702 Other – net (66) (37) (20) Total $ 3,780 $ 5,395 $ 1,168 Effective Tax Rate (122.2) % 18.5 % (329.9) % 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, 2022 | |
Retirement Benefits [Abstract] | |
Pension And Postretirement Benefits | NOTE 14. 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. During the third quarter of 2022, we committed to, and reflected in our results, plan changes impacting postretirement health and welfare benefits. This plan change aligns our benefit plans to 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 2022 2021 2022 2021 Benefit obligation at beginning of year $ 57,212 $ 62,158 $ 12,552 $ 13,928 Service cost - benefits earned during the period 617 957 32 45 Interest cost on projected benefit obligation 1,747 1,276 277 210 Amendments — — (2,370) — Actuarial (gain) loss (10,894) (1,237) (1,919) (275) Benefits paid, including settlements (5,854) (5,942) (1,292) (1,356) Benefit obligation at end of year $ 42,828 $ 57,212 $ 7,280 $ 12,552 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 2022 2021 2022 2021 Fair value of plan assets at beginning of year $ 54,401 $ 54,606 $ 3,198 $ 3,843 Actual return on plan assets (7,673) 5,737 (370) 210 Benefits paid, including settlements 1 (5,854) (5,942) (788) (1,163) Contributions — — 120 308 Fair value of plan assets at end of year 40,874 54,401 2,160 3,198 Unfunded status at end of year 2 $ (1,954) $ (2,811) $ (5,120) $ (9,354) 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 2022 2021 2022 2021 Current portion of employee benefit obligation 1 $ — $ — $ (1,058) $ (1,106) Employee benefit obligation 2 (1,954) (2,811) (4,062) (8,248) Net amount recognized $ (1,954) $ (2,811) $ (5,120) $ (9,354) 1 Included in “Accounts payable and accrued liabilities.” 2 Included in “Postemployment benefit obligation,” combined with international pension obligations and other postemployment obligations of $161 and $1,083 at December 31, 2022, and $364 and $1,226 at December 31, 2021, 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 $42,137 at December 31, 2022, and $56,159 at December 31, 2021. 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 $(4,789), $(7,652) and $711 for the years ended December 31, 2022, 2021 and 2020. The following table presents the components of net periodic benefit cost (credit): Pension Benefits Postretirement Benefits 2022 2021 2020 2022 2021 2020 Service cost – benefits earned during the period $ 617 $ 957 $ 1,029 $ 32 $ 45 $ 53 Interest cost on projected benefit obligation 1,747 1,276 1,687 277 210 416 Expected return on assets (3,107) (3,513) (3,557) (112) (151) (178) Amortization of prior service credit (133) (144) (113) (2,558) (2,537) (2,329) Net periodic benefit cost (credit) before remeasurement (876) (1,424) (954) (2,361) (2,433) (2,038) Actuarial (gain) loss (115) (3,461) 2,404 (1,437) (334) 1,299 Net pension and postretirement cost (credit) $ (991) $ (4,885) $ 1,450 $ (3,798) $ (2,767) $ (739) 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 2022 2021 2020 2022 2021 2020 Balance at beginning of year $ 416 $ 525 $ 361 $ 6,496 $ 8,408 $ 8,163 Prior service (cost) credit — — 250 1,786 — 2,001 Amortization of prior service credit (100) (109) (86) (1,928) (1,912) (1,756) Total recognized in other comprehensive (income) loss (100) (109) 164 (142) (1,912) 245 Balance at end of year $ 316 $ 416 $ 525 $ 6,354 $ 6,496 $ 8,408 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 2022 2021 2020 2022 2021 2020 Weighted-average discount rate for determining benefit obligation at December 31 5.20 % 3.00 % 2.70 % 5.20 % 2.80 % 2.40 % Discount rate in effect for determining service cost 1 4.40 % 3.30 % 3.60 % 4.00 % 2.90 % 3.50 % Discount rate in effect for determining interest cost 1 3.90 % 2.30 % 2.90 % 3.20 % 1.60 % 2.70 % Weighted-average interest credit rate for cash balance pension programs 2 4.10 % 3.20 % 3.10 % — % — % — % Long-term rate of return on plan assets 6.75 % 6.75 % 7.00 % 4.50 % 4.50 % 4.75 % 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 (credit) 3.00 % 3.00 % 3.00 % 3.00 % 3.00 % 3.00 % 1 Weighted-average discount rates shown for years with interim remeasurements: 2022 and 2021 for pension benefits and 2022 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 $135. 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 rates for both pension and postretirement benefits of 5.20%, at December 31, 2022, reflect 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 generally not callable, convertible or index linked. For the year ended December 31, 2022, when compared to the year ended December 31, 2021, we increased our pension discount rate by 2.20%, resulting in a decrease in our pension plan benefit obligation of $11,738 and increased our postretirement discount rate by 2.40%, resulting in a decrease in our postretirement benefit obligation of $2,102. For the year ended December 31, 2021, 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. 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 2023, our expected long-term rate of return is 7.50% on pension plan assets and 6.50% on postretirement plan assets, an increase of 0.75% for pension plan assets and 2.00% for postretirement plan assets. This update to our asset return assumptions was due to economic forecasts and changes in the asset mix. 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 2023 combined pension and postretirement cost to increase $201. 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 2022 and 2021 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 2023 assumed annual healthcare prescription drug cost trend and medical cost trend for eligible participants will increase from an annual and ultimate trend rate of 4.25% to an annual and ultimate trend rate of 4.50%. This change in assumption increased our obligation by $19. For 2022, our assumed annual healthcare prescription drug cost trend and medical cost trend for eligible participants increased 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. 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 2023. 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 $120 in December 2022 and $308 in December 2021 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 2022 2021 Target 2022 2021 Equity securities: Domestic 5 % - 25 % 7 % 16 % 16 % - 26 % 21 % 19 % International 1 % - 21 % 4 13 16 % - 26 % 21 19 Fixed income securities 40 % - 50 % 45 38 42 % - 52 % 47 39 Real assets — % - 20 % 16 10 — % - 6 % 1 1 Private equity — % - 16 % 14 12 — % - 6 % 1 1 Preferred interests 8 % - 18 % 13 10 — % - — % — — Other — % - 5 % 1 1 5 % - 15 % 9 21 Total 100 % 100 % 100 % 100 % The pension trust holds preferred equity interests valued at $5,427 in AT&T Mobility II LLC (Mobility II), the primary holding company for our wireless business. The preferred equity interests were valued at $5,562 as of December 31, 2021. On December 27, 2022, the pension trust provided written notice of its right to require AT&T to purchase Mobility preferred interests outstanding. (See Note 16) At December 31, 2022, AT&T securities represented 14% 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 12 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, 2022: Pension Assets and Liabilities at Fair Value as of December 31, 2022 Level 1 Level 2 Level 3 Total Non-interest bearing cash $ 158 $ — $ — $ 158 Interest bearing cash 5 — — 5 Foreign currency contracts — 4 — 4 Equity securities: Domestic equities 2,312 — 2 2,314 International equities 1,251 — — 1,251 Preferred interests — — 5,427 5,427 Fixed income securities: Corporate bonds and other investments — 9,366 1 9,367 Government and municipal bonds — 5,450 — 5,450 Mortgage-backed securities — 220 — 220 Real estate and real assets — — 4,343 4,343 Securities lending collateral 1,137 1,407 — 2,544 Receivable for variation margin 5 — — 5 Assets at fair value 4,868 16,447 9,773 31,088 Investments sold short and other liabilities at fair value (261) (5) — (266) Total plan net assets at fair value $ 4,607 $ 16,442 $ 9,773 $ 30,822 Assets held at net asset value practical expedient Private equity funds 5,866 Real estate funds 1,907 Commingled funds 5,045 Total assets held at net asset value practical expedient 12,818 Other assets (liabilities) 1 (2,766) Total Plan Net Assets $ 40,874 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, 2022 Level 1 Level 2 Level 3 Total Interest bearing cash $ 191 $ 4 $ — $ 195 Equity securities: Domestic equities 258 — — 258 International equities 233 — 1 234 Securities lending collateral — 12 — 12 Assets at fair value 682 16 1 699 Securities lending payable and other liabilities — (12) — (12) Total plan net assets at fair value $ 682 $ 4 $ 1 $ 687 Assets held at net asset value practical expedient Private equity funds 13 Real estate funds 13 Commingled funds 1,445 Total assets held at net asset value practical expedient 1,471 Other assets (liabilities) 1 2 Total Plan Net Assets $ 2,160 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, 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 funds 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. For the years ended December 31, 2022 and 2021, our postretirement assets did not include significant investments in Level 3 assets, nor were there significant changes in fair value of those assets during the period. The tables below set forth a summary of changes in the fair value of the Level 3 pension assets for the years ended: Equities Fixed Income Funds Real Estate and Real Assets Total Balance as of December 31, 2021 $ 5,569 $ 2 $ 3,318 $ 8,889 Realized gains (losses) 1 — 22 23 Unrealized gains (losses) (139) — 802 663 Transfers in 1 1 20 22 Transfers out — (2) (29) (31) Purchases — — 716 716 Sales (3) — (506) (509) Balance as of December 31, 2022 $ 5,429 $ 1 $ 4,343 $ 9,773 Equities Fixed Income Funds Real Estate and Real Assets Total Balance as of December 31, 2020 $ 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 as of December 31, 2021 $ 5,569 $ 2 $ 3,318 $ 8,889 Estimated Future Benefit Payments Expected benefit payments are estimated using the same assumptions used in determining our benefit obligation at December 31, 2022. 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 2023 $ 5,612 $ 1,211 2024 3,734 801 2025 3,747 640 2026 3,632 598 2027 3,561 568 Years 2028 - 2032 16,688 2,322 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 $1,544 and the net supplemental retirement pension credit was $234 at and for the year ended December 31, 2022. 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. 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 5.10% at December 31, 2022 and 2.70% at December 31, 2021 were calculated using the same methodologies used in calculating the discount rates for our qualified pension and postretirement benefit plans. Deferred compensation expense was $94 in 2022, $171 in 2021 and $183 in 2020. 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 $611, $614 and $646 for the years ended December 31, 2022, 2021 and 2020. |
Share-Based Payments
Share-Based Payments | 12 Months Ended |
Dec. 31, 2022 | |
Share-Based Payment Arrangement [Abstract] | |
Share-Based Payments | NOTE 15. SHARE-BASED PAYMENTS Under our various plans, senior and other management employees and nonemployee directors have received nonvested stock and stock units. 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: 2022 2021 2020 Performance stock units $ 168 $ 248 $ 348 Restricted stock and stock units 350 199 74 Other nonvested stock units — — — Stock options — — — Total $ 518 $ 447 $ 422 Income tax benefit $ 127 $ 110 $ 104 A summary of the status of our nonvested stock units as of December 31, 2022, 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, 2022 35 $ 32.33 Granted 21 23.64 Vested (28) 27.64 Forfeited (5) 23.76 Spin-off Adjustment 1 13 NA Nonvested at December 31, 2022 36 $ 22.07 1 In connection with the WarnerMedia transaction, AT&T made certain adjustments to the number of stock awards to maintain the intrinsic value prior to the spin-off. As of December 31, 2022, there was $547 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 1.69 years. The total fair value of shares vested during the year was $783 for 2022, compared to $608 for 2021 and $471 for 2020. It is our intent to satisfy share option exercises using our treasury stock. Cash received from stock option exercises was $2 for 2022, $11 for 2021 and $21 for 2020. |
Stockholders' Equity
Stockholders' Equity | 12 Months Ended |
Dec. 31, 2022 | |
Stockholders' Equity Note [Abstract] | |
Stockholders' Equity | NOTE 16. 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, 2022 and December 31, 2021, with a $25,000 per share liquidation preference and a dividend rate of 5.000%. • Series B: 20 thousand shares outstanding at December 31, 2022 and December 31, 2021, 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, 2022 and December 31, 2021, 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 144 million outstanding at December 31, 2022. 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 2021, there were no shares repurchased under the March 2014 authorization. During 2022, we repurchased approximately 34 million shares totaling $662 under the March 2014 authorization. Dividend Declarations In December 2022 and December 2021, AT&T declared a quarterly preferred dividend of $36. In December 2022 and December 2021, AT&T declared a common dividend of $0.2775 and $0.52 per share of common stock, respectively. 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 In 2018, we issued 320 million Series A Cumulative Perpetual Preferred Membership Interests in Mobility II (Mobility preferred interests), which pay cash distributions of 7% 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 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. On October 24, 2022, approximately 105 million Mobility preferred interests were put to AT&T by a third-party investor, for which we paid approximately $2,600 cash to redeem. On December 27, 2022, the AT&T pension trust provided written notice of its right to require us to purchase the remaining 213 million, or approximately $5,340, of Mobility preferred interests outstanding. The terms of the instruments limit the amount we are required to redeem in any 12-month period to approximately 107 million shares, or $2,670. We expect to redeem approximately $2,670 of the Mobility preferred interests primarily in October 2023 and $2,670 in October 2024, unless the interests are called or the puts are accepted by AT&T prior to those dates. With the certainty of redemption, the remaining Mobility preferred interests were reclassified from equity to a liability at fair value, with approximately $2,670 recorded in current liabilities as “Accounts payable and accrued liabilities” and $2,670 recorded in “Other noncurrent liabilities.” The liabilities associated with the Mobility preferred interests are considered Level 3 under the Fair Value Measurement and Disclosure framework (see Notes 12 and 14). The difference between the carrying value of the Mobility preferred interest, which represented fair value at contribution, and the fair value of the instrument upon settlement and/or balance sheet reclassification was recorded as an adjustment to additional paid-in capital. As of December 31, 2022, we have approximately 213 million Mobility preferred interests outstanding, which have a redemption value of approximately $5,340 and pay cash distributions of $373 per annum, subject to declaration. 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, 2022 | |
Receivables [Abstract] | |
Sales Of Receivables | NOTE 17. 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 consists of receivables arising from equipment installment plans, which are sold for cash and a deferred purchase price. Under this program, we transfer receivables to purchasers in exchange for cash and additional consideration upon settlement of the receivables. Under the terms of our agreement for this program, we continue to service the transferred receivables on behalf of the financial institutions. The following table sets forth a summary of cash proceeds received, net of remittances paid, from sales of receivables for the years ended December 31: 2022 2021 2020 Net cash received (paid) from equipment installment receivables 1 $ 1,875 $ 1,000 $ (1,565) Net cash received (paid) from other programs 620 (295) 295 Total net cash impact to cash flows from operating activities $ 2,495 $ 705 $ (1,270) 1 Net cash from initial sales of $11,129, $9,740 and $6,089 for the years ended December 31, 2022, 2021 and 2020, respectively. 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, when applicable. The following table sets forth a summary of the equipment installment receivables and accounts being serviced at December 31: 2022 2021 Gross receivables: $ 4,165 $ 4,361 Balance sheet classification Accounts receivable Notes receivable 1,789 1,846 Trade receivables 522 606 Other Assets Noncurrent notes and trade receivables 1,854 1,909 Outstanding portfolio of receivables derecognized from our consolidated balance sheets $ 11,030 $ 9,767 Cash proceeds received, net of remittances 1 8,519 6,644 1 Represents amounts to which financial institutions remain entitled, excluding the deferred purchase price. 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: 2022 2021 2020 Gross receivables sold $ 11,510 $ 10,793 $ 7,270 Net receivables sold 1 11,061 10,502 7,026 Cash proceeds received 11,129 9,740 6,089 Deferred purchase price recorded 245 1,080 1,021 Guarantee obligation recorded 703 434 157 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 12). The following table presents the previously transferred equipment installment receivables, which we repurchased in exchange for the associated deferred purchase price: 2022 2021 2020 Fair value of repurchased receivables $ 3,314 $ 1,424 $ 1,271 Carrying value of deferred purchase price 3,335 1,334 1,235 Gain (loss) on repurchases 1 $ (21) $ 90 $ 36 1 These gains (losses) are included in “Selling, general and administrative” expense in the consolidated statements of income. At December 31, 2022 and December 31, 2021, our deferred purchase price receivable was $2,318 and $3,177, respectively, of which $1,278 and $2,123 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, 2022 and December 31, 2021 was $419 and $371, respectively, of which $73 and $101 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. |
Tower Transaction
Tower Transaction | 12 Months Ended |
Dec. 31, 2022 | |
Other Liabilities [Abstract] | |
Tower Transaction | NOTE 18. 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, 2022 and 2021, the tower assets had a balance of $686 and $725, respectively. Our depreciation expense for these assets was $39 for each of 2022, 2021 and 2020. Payments made to Crown Castle under this arrangement were $258 for 2022. At December 31, 2022, the future minimum payments under the sublease arrangement are $264 for 2023, $269 for 2024, $274 for 2025, $280 for 2026, $285 for 2027 and $421 thereafter. |
Transactions With DIRECTV Discl
Transactions With DIRECTV Disclosures | 12 Months Ended |
Dec. 31, 2022 | |
Related Party Transactions [Abstract] | |
Investments In And Transactions With DIRECTV Disclosure [Text Block] | NOTE 19. TRANSACTIONS WITH DIRECTV 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 year ended December 31, 2022, our share of DIRECTV’s earnings included in equity in net income of affiliates was $1,808. Cash distributions from DIRECTV totaled $4,457, with $1,808 classified as operating activities and $2,649 classified as investing activities in our consolidated statement of cash flows. Our investment in DIRECTV at December 31, 2022 was $2,911. In addition to the assets and liabilities contributed to DIRECTV, we recorded total obligations of $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. For the year ended December 31, 2022, cash payments to DIRECTV on the note totaled $1,211 and were classified as financing activities in our consolidated statement of cash flows. Amounts due under the DIRECTV note were $130 at December 31, 2022. We also provide DIRECTV with network transport for U-verse products and sales services under commercial arrangements for up to five years. 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 year ended December 31, 2022, we billed DIRECTV approximately $1,260 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 $737. At December 31, 2022, we had accounts receivable from DIRECTV of $360 and accounts payable to DIRECTV of $120. 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, 2022 | |
Contractors [Abstract] | |
FirstNet | NOTE 20. 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 2022, we submitted $195 in sustainability payments, with future payments under the agreement of $195 for 2023, 2024 and 2025; $1,590 for 2026, $1,665 for 2027; and $13,365 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, 2022, we have collected approximately $6,120 for the completion of certain tasks and anticipate collecting nearly all of the remainder of the $6,500 as we fulfill contractual deliveries set out by FirstNet in 2023. |
Contingent Liabilities
Contingent Liabilities | 12 Months Ended |
Dec. 31, 2022 | |
Commitments and Contingencies Disclosure [Abstract] | |
Contingent Liabilities | NOTE 21. 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 $12,313 in 2023, $11,424 in total for 2024 and 2025, $2,457 in total for 2026 and 2027 and $821 in total for years thereafter. See Note 12 for a discussion of collateral and credit-risk contingencies. |
Additional Financial Informatio
Additional Financial Information | 12 Months Ended |
Dec. 31, 2022 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Additional Financial Information | NOTE 22. ADDITIONAL FINANCIAL INFORMATION December 31, Consolidated Balance Sheets 2022 2021 Accounts payable and accrued liabilities: Accounts payable $ 31,101 $ 29,511 Accrued payroll and commissions 1,605 2,082 Current portion of employee benefit obligation 1,173 1,234 Current portion of Mobility preferred interests 1 2,670 — Accrued interest 2,160 2,438 Accrued taxes 798 1,148 Other 3,137 2,682 Total accounts payable and accrued liabilities $ 42,644 $ 39,095 1 Reported as noncontrolling interest in 2021. (See Note 16) Consolidated Statements of Income 2022 2021 2020 Advertising expense $ 2,462 $ 2,732 $ 2,705 Interest expense incurred $ 7,402 $ 7,670 $ 7,850 Capitalized interest – capital expenditures (174) (173) (123) Capitalized interest – spectrum 1 (1,120) (781) — Total interest expense $ 6,108 $ 6,716 $ 7,727 1 Included in “Acquisitions, net of cash acquired” on our consolidated statements 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 contained on our consolidated balance sheets: December 31, Cash and Cash Equivalents and Restricted Cash 2022 2021 2020 2019 Cash and cash equivalents from continuing operations $ 3,701 $ 19,223 $ 7,924 $ 9,702 Cash and cash equivalents from discontinued operations — 1,946 1,816 2,428 Restricted cash in Prepaid and other current assets 1 3 9 69 Restricted cash in Other Assets 91 144 121 96 Cash and cash equivalents and restricted cash $ 3,793 $ 21,316 $ 9,870 $ 12,295 The following tables summarize certain cash flow activities from continuing operations: Consolidated Statements of Cash Flows 2022 2021 2020 Cash paid (received) during the year for: Interest $ 7,772 $ 7,485 $ 8,010 Income taxes, net of refunds 1 592 252 577 1 Total cash income taxes paid, net of refunds, by AT&T was $696, $700 and $993 for 2022, 2021 and 2020, respectively. Purchase of property and equipment $ 19,452 $ 15,372 $ 14,567 Interest during construction - capital expenditures 1 174 173 123 Total Capital expenditures $ 19,626 $ 15,545 $ 14,690 Business acquisitions $ — $ — $ 12 Spectrum acquisitions 9,080 24,672 1,613 Interest during construction - spectrum 1 1,120 781 — Total Acquisitions, net of cash acquired $ 10,200 $ 25,453 $ 1,625 1 Total capitalized interest was $1,294, $954 and $123 for 2022, 2021 and 2020, respectively. 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 $5,817 of vendor financing commitments related to capital investments in 2022, $5,282 in 2021 and $4,664 in 2020. Total vendor financing payables included in our December 31, 2022 consolidated balance sheet were approximately $6,147, with $4,592 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, 2023, we employed approximately 160,700 persons. Approximately 42% 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 in place agreements with these groups, 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 7,000 Mobility employees in nine states, for which we reached tentative agreement in February 2023. • A contract covering approximately 400 employees supporting internet-based products is set to expire in July 2023. • A contract covering approximately 200 Mobility employees in Illinois is set to expire in May 2023. |
Discontinued Operations and Dis
Discontinued Operations and Disposal Groups | 12 Months Ended |
Dec. 31, 2022 | |
Discontinued Operations and Disposal Groups [Abstract] | |
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block] | NOTE 23. DISCONTINUED OPERATIONS Upon the separation and distribution, the WarnerMedia business met the criteria for discontinued operations. For discontinued operations, we also evaluated transactions that were components of AT&T’s single plan of a strategic shift, including dispositions that previously did not individually meet the criteria due to materiality, and have determined discontinued operations to be comprised of WarnerMedia, Vrio, Xandr and Playdemic. The following is a summary of operating results included in income (loss) from discontinued operations for the years ended: 2022 2021 2020 Revenues $ 9,454 $ 34,826 $ 28,710 Operating Expenses Cost of revenues 5,481 19,400 14,269 Selling, general and administrative 2,791 8,275 7,222 Asset abandonments and impairments 1 — 4,691 3,193 Depreciation and amortization 1,172 5,010 5,993 Total operating expenses 9,444 37,376 30,677 Interest expense 131 168 198 Equity in net income (loss) of affiliates (27) 28 6 Other income (expense) — net 2 (87) 466 (343) Total other income (expense) (245) 326 (535) Net loss before income taxes (235) (2,224) (2,502) Income tax expense (benefit) (54) 73 (203) Net loss from discontinued operations $ (181) $ (2,297) $ (2,299) 1 2021 includes $4,555 impairment resulting from our assessment of the recoverability of Vrio’s net assets. 2020 includes approximately $2,200 of goodwill impairment at Vrio and $1,000 from production, content and other impairment at WarnerMedia. The implied fair value of the Vrio business was estimated using both the discounted cash flow as well as market multiple approaches. 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. 2 “Other income (expense) - net” includes the gain of $706 from Playdemic for the year ended 2021. The following is a summary of assets and liabilities attributable to discontinued operations, which were included in our historical Consolidated Balance Sheet at December 31: 2021 Assets: Current assets $ 9,005 Noncurrent Inventories and Theatrical Film and Television Production Costs 18,983 Property, Plant and Equipment — Net 4,255 Goodwill 40,484 Other Intangibles — Net 40,273 Other Assets 6,776 Total Assets, discontinued operations $ 119,776 Liabilities: Current liabilities $ 12,912 Other liabilities 20,643 Total Liabilities, discontinued operations $ 33,555 In preparation for close of the separation and distribution, on April 7, 2022, Spinco drew $10,000 on its $10,000 term loan credit agreement (Spinco Term Loan), which conveyed to WBD. Total debt conveyed was approximately $41,600, which included $1,600 of existing WarnerMedia debt, $30,000 of Spinco senior notes issued in March 2022 and the $10,000 Spinco Term Loan. WarnerMedia cash transfer to Discovery was approximately $2,660. |
Quarterly Financial Information
Quarterly Financial Information | 12 Months Ended |
Dec. 31, 2022 | |
Quarterly Financial Information Disclosure [Abstract] | |
Quarterly Financial Information (Unaudited) | NOTE 24. QUARTERLY FINANCIAL INFORMATION (UNAUDITED) The following tables represent our quarterly financial results: 2022 Calendar Quarter First 1 Second 1 Third 1 Fourth 1,2 Annual Total Operating Revenues $ 29,712 $ 29,643 $ 30,043 $ 31,343 $ 120,741 Operating Income (Loss) 5,537 4,956 6,012 (21,092) (4,587) Net Income (Loss) from Continuing Operations 5,149 4,751 6,346 (23,120) (6,874) Net Income (Loss) from Continuing Operations Attributable to Common Stock 4,747 4,319 5,924 (23,536) (8,546) Basic Earnings (Loss) Per Share Attributable to Common Stock from Continuing Operations 3 $ 0.66 $ 0.60 $ 0.82 $ (3.20) $ (1.10) Diluted Earnings (Loss) Per Share Attributable to Common Stock from Continuing Operations 3 $ 0.65 $ 0.59 $ 0.79 $ (3.20) $ (1.10) 1 Includes actuarial gains and losses on pension and postretirement benefit plans (Note 14). 2 Includes goodwill impairments (Note 9) and an asset abandonment charge (Note 7). 3 Quarterly earnings per share impacts may not add to full-year earnings per share impacts due to the difference in weighted-average common shares for the quarters versus the weighted-average common shares for the year. 2021 Calendar Quarter First 1 Second 1 Third 1 Fourth 1 Annual Total Operating Revenues $ 35,877 $ 35,740 $ 31,326 $ 31,095 $ 134,038 Operating Income 7,194 7,572 6,237 4,894 25,897 Net Income from Continuing Operations 7,586 5,969 5,019 5,202 23,776 Net Income from Continuing Operations Attributable to Common Stock 7,143 5,526 4,613 4,802 22,084 Basic Earnings Per Share Attributable to Common Stock from Continuing Operations 2 $ 0.99 $ 0.77 $ 0.64 $ 0.67 $ 3.07 Diluted Earnings Per Share Attributable to Common Stock from Continuing Operations 2 $ 0.97 $ 0.76 $ 0.63 $ 0.66 $ 3.02 1 Includes actuarial gains and losses on pension and postretirement benefit plans (Note 14). 2 Quarterly earnings per share impacts may not add to full-year earnings per share impacts due to the difference in weighted-average common shares for the quarters versus the weighted-average common shares for the year. |
Schedule II - Valuation And Qua
Schedule II - Valuation And Qualifying Accounts | 12 Months Ended |
Dec. 31, 2022 | |
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 2022 $ 1,163 $ 1,865 $ — $ — $ 2,017 $ 1,011 Year 2021 $ 1,457 $ 1,241 $ — $ — $ 1,535 $ 1,163 Year 2020 $ 1,150 $ 1,798 $ 405 $ — $ 1,896 $ 1,457 (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 2022 $ 4,343 (168) — — — $ 4,175 Year 2021 $ 4,557 (214) — — — $ 4,343 Year 2020 $ 4,715 (158) — — — $ 4,557 |
Summary Of Significant Accoun_2
Summary Of Significant Accounting Policies (Policy) | 12 Months Ended |
Dec. 31, 2022 | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |
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 fair value, probable losses and expenses, that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. Moreover, unfavorable changes in market conditions, including interest rates, could adversely impact those estimates and result in asset impairments. Certain prior-period amounts have been conformed to the current period’s presentation. Unless otherwise noted, the information in Notes 1 through 22 and 24 refer only to our continuing operations and do not include discussion of balances or activity of WarnerMedia, Vrio, Xandr and Playdemic, which are part of discontinued operations. |
New Accounting Standards | |
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, state and foreign 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 simplified 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, 2022, we held $866 in cash and $2,835 in money market funds and other cash equivalents. Of our total cash and cash equivalents, $1,045 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. |
Inventory | Inventories Inventories primarily consist of wireless devices and accessories and are valued at the lower of cost or net realizable value |
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 seven |
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; 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 (see Note 9). 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. 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 economic lives (see Note 9). 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 are amortized using the straight-line method over the estimated useful life of the assets. 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. |
Advertising Costs | Advertising Costs We expense advertising costs for products and services or for promoting our corporate image as incurred (see Note 22). |
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). 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 12). |
Pension And Other Postretirement Benefits | Pension and Other Postretirement Benefits See Note 14 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. |
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 2022, 2021 or 2020. 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 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 standalone 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. Standalone selling prices are determined by assessing prices paid for service-only contracts (e.g., arrangements where customers bring their own devices) and standalone 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 standalone 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. |
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. |
ASU 2016-13 [Member] | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |
Credit Losses | Credit Losses As of January 1, 2020, we adopted, through modified retrospective application, 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. |
ASU 2020-04 [Member] | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |
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, 2024. 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 |
ASU 2020-06 [Member] | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |
New Accounting Standards | Convertible Instruments Beginning with 2022 interim reporting, we adopted, through retrospective application, the Financial Accounting Standards Board’s (FASB) Accounting Standards Update (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 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 Series A Cumulative Perpetual Membership Interests in AT&T Mobility II LLC (Mobility preferred interests) in cash, settlement of this instrument in AT&T shares would result in additional dilutive impact, the magnitude of which is influenced by the fair value of the Mobility preferred interests and the average AT&T common stock price during the reporting period, which could vary from period-to-period (see Note 16). |
ASU 2021-10 [Member] | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |
New Accounting Standards | 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 (e.g., terms and conditions, accounting treatment, impacted financial statement lines), 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. We adopted ASU 2021-10 effective for the annual reporting period ended December 31, 2022, as required, under prospective application, with no required updates to our disclosures |
ASU 2022-04 [Member] | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |
New Accounting Standards | Supplier Finance Obligations In September 2022, the FASB issued ASU No. 2022-04, “Liabilities – Supplier Finance Programs (Subtopic 405-50): Disclosure of Supplier Finance Program Obligations” (ASU 2022-04), which establishes interim and annual reporting disclosure requirements about a company’s supplier finance programs for its purchase of goods and services. Interim and annual requirements include disclosure of outstanding amounts under the obligations as of the end of the reporting period, and annual requirements include a rollforward of those obligations for the annual reporting period, as well as a description of payment and other key terms of the programs. ASU 2022-04 will be effective for interim and annual periods beginning after December 15, 2022, with retrospective application, except for the annual rollforward requirement, which becomes effective for annual periods beginning after December 15, 2023, with prospective application. The standard allows early adoption of all requirements. In the year of adoption, the disclosure of payment and other key terms under the programs and outstanding balances under the obligations will also apply to interim reporting dates. We are in the process of evaluating the impact of our adoption of ASU 2022-04. |
Accounting Policies (Tables)
Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Accounting Policies [Abstract] | |
Accounting Standards Update and Change in Accounting Principle [Table Text Block] | Historical Accounting Method Effect of Adoption of ASU 2020-06 1 Under ASU 2020-06 Diluted earnings per share from continuing operations: Year ended December 31, 2022 $ (1.10) $ — $ (1.10) Year ended December 31, 2021 $ 3.07 $ (0.05) $ 3.02 Year ended December 31, 2020 $ (0.45) $ — $ (0.45) 1 See Note 2 for a discussion of the numerator and denominator adjustments. |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
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, 2022 2021 2020 Numerators Numerator for basic earnings per share: Income (loss) from continuing operations, net of tax $ (6,874) $ 23,776 $ (1,522) Net income from continuing operations attributable to noncontrolling interests (1,469) (1,485) (1,470) Preferred Stock Dividends (203) (207) (193) Income (loss) from continuing operations attributable to common stock (8,546) 22,084 (3,185) Adjustment to carrying value of noncontrolling interest 663 — — Numerator for basic earnings per share from continuing operations 1 (7,883) 22,084 (3,185) Loss from discontinued operations, net of tax (181) (2,297) (2,299) Loss from discontinued operations attributable to noncontrolling interests — 87 115 Loss from discontinued operations attributable to common stock (181) (2,210) (2,184) Numerator for basic earnings per share 1 $ (8,064) $ 19,874 $ (5,369) Dilutive potential common shares: Mobility preferred interests 2 526 560 560 Share-based payment 2 17 22 23 Numerator for diluted earnings per share $ (7,521) $ 20,456 $ (4,786) Denominators (000,000) Denominator for basic earnings per share: Weighted average number of common shares outstanding 7,166 7,168 7,157 Dilutive potential common shares: Mobility preferred interests (in shares) 378 304 283 Share-based payment (in shares) 43 31 26 Denominator for diluted earnings per share 2 7,587 7,503 7,466 1 For 2022, in the calculation of basic earnings per share, income (loss) attributable to common stock for continuing operations and total company has been increased by $663 from adjustment to carrying value of noncontrolling interest. (See Note 16) 2 For 2022 and 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, 2022 | |
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, 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 Other comprehensive income (loss) before reclassifications 346 (143) (648) 1,787 1,342 Amounts reclassified from accumulated OCI — 1 8 1 96 2 (2,028) 3 (1,924) Distribution of WarnerMedia (182) — (24) 25 (181) Net other comprehensive income (loss) 164 (135) (576) (216) (763) Balance as of December 31, 2022 $ (1,800) $ (90) $ (1,998) $ 6,654 $ 2,766 1 (Gains) losses are included in “Other income (expense) – net” in the consolidated statements of income. 2 (Gains) losses are primarily included in “Interest expense” in the consolidated statements of income (see Note 12). 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 14). 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, 2022 | |
Segment Reporting [Abstract] | |
Reconciliation of Revenues to Segment Contribution | For the year ended December 31, 2022 Revenues Operations EBITDA Depreciation and Amortization Operating Communications Mobility $ 81,780 $ 49,054 $ 32,726 $ 8,198 $ 24,528 Business Wireline 22,538 13,972 8,566 5,314 3,252 Consumer Wireline 12,749 8,253 4,496 3,169 1,327 Total Communications 117,067 71,279 45,788 16,681 29,107 Latin America - Mexico 3,144 2,812 332 658 (326) Segment Total 120,211 74,091 46,120 17,339 28,781 Corporate and Other Corporate: DTV-related retained costs 8 737 (729) 549 (1,278) Parent administration support (32) 1,199 (1,231) 16 (1,247) Securitization fees 65 419 (354) — (354) Value portfolio 489 139 350 41 309 Total Corporate 530 2,494 (1,964) 606 (2,570) Reclassification of prior service credits — 2,691 (2,691) — (2,691) Certain significant items — 28,031 (28,031) 76 (28,107) Total Corporate and Other 530 33,216 (32,686) 682 (33,368) AT&T Inc. $ 120,741 $ 107,307 $ 13,434 $ 18,021 $ (4,587) For the year ended December 31, 2021 Revenues Operations EBITDA Depreciation Operating Communications Mobility $ 78,254 $ 46,762 $ 31,492 $ 8,122 $ 23,370 Business Wireline 23,937 14,718 9,219 5,192 4,027 Consumer Wireline 12,539 8,448 4,091 3,095 996 Total Communications 114,730 69,928 44,802 16,409 28,393 Latin America - Mexico 2,747 2,652 95 605 (510) Segment Total 117,477 72,580 44,897 17,014 27,883 Corporate and Other Corporate: DTV-related retained costs 49 243 (194) 236 (430) Parent administration support (18) 1,523 (1,541) 36 (1,577) Securitization fees 61 89 (28) — (28) Value portfolio 639 208 431 40 391 Total Corporate 731 2,063 (1,332) 312 (1,644) Video 15,513 12,666 2,847 356 2,491 Held-for-sale and other reclassifications 453 310 143 — 143 Reclassification of prior service credits — 2,680 (2,680) — (2,680) Certain significant items — 126 (126) 170 (296) Eliminations and consolidations (136) (136) — — — Total Corporate and Other 16,561 17,709 (1,148) 838 (1,986) AT&T Inc. $ 134,038 $ 90,289 $ 43,749 $ 17,852 $ 25,897 For the year ended December 31, 2020 Revenues Operations EBITDA Depreciation Operating Communications Mobility $ 72,564 $ 41,677 $ 30,887 $ 8,086 $ 22,801 Business Wireline 25,083 15,068 10,015 5,216 4,799 Consumer Wireline 12,318 7,942 4,376 2,914 1,462 Total Communications 109,965 64,687 45,278 16,216 29,062 Latin America - Mexico 2,562 2,636 (74) 513 (587) Segment Total 112,527 67,323 45,204 16,729 28,475 Corporate and Other Corporate: Parent administration support (62) 1,681 (1,743) 12 (1,755) Securitization fees 53 72 (19) — (19) Value portfolio 775 335 440 64 376 Total Corporate 766 2,088 (1,322) 76 (1,398) Video 28,610 24,174 4,436 2,262 2,174 Held-for-sale and other reclassifications 1,414 718 696 15 681 Reclassification of prior service credits — 2,442 (2,442) — (2,442) Certain significant items — 15,677 (15,677) 3,441 (19,118) Eliminations and consolidations (267) (267) — — — Total Corporate and Other 30,523 44,832 (14,309) 5,794 (20,103) AT&T Inc. $ 143,050 $ 112,155 $ 30,895 $ 22,523 $ 8,372 |
Reconciliation of Segment Contributions to Income Before Income Taxes | The following table is a reconciliation of operating income (loss) to “Income (Loss) from Continuing Operations Before Income Taxes” reported in our consolidated statements of income: 2022 2021 2020 Communications $ 29,107 $ 28,393 $ 29,062 Latin America (326) (510) (587) Segment Operating Income 28,781 27,883 28,475 Reconciling Items: Corporate (2,570) (1,644) (1,398) Video — 2,491 2,174 Held-for-sale and other reclassifications — 143 681 Transaction and other costs (425) (41) (1,064) Amortization of intangibles acquired (76) (170) (3,427) Asset impairments and abandonments and restructuring (27,498) (213) (15,687) Gain on spectrum transaction 1 — — 900 Benefit-related gains (losses) (108) 128 160 Reclassification of prior service credits (2,691) (2,680) (2,442) AT&T Operating Income (Loss) (4,587) 25,897 8,372 Interest Expense 6,108 6,716 7,727 Equity in net income of affiliates 1,791 603 89 Other income (expense) – net 5,810 9,387 (1,088) Income (Loss) from Continuing Operations Before Income Taxes $ (3,094) $ 29,171 $ (354) 1 Included as a reduction of “Selling, general and administrative” expense 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: 2022 2021 2020 Revenues Net Property, Plant & Equipment Revenues Net Property, Plant & Equipment Revenues Net Property, United States $ 116,006 $ 123,305 $ 129,157 $ 117,690 $ 138,188 $ 116,926 Mexico 3,210 3,718 2,824 3,460 2,651 3,528 Asia/Pacific Rim 592 124 747 136 816 170 Europe 584 201 907 249 1,022 347 Latin America 217 74 251 82 212 94 Other 132 23 152 32 161 39 Total $ 120,741 $ 127,445 $ 134,038 $ 121,649 $ 143,050 $ 121,104 |
Schedule of Intersegment Revenues, Assets, Investments in Equity Affiliates, and Capital Expenditures by Segment | The following table presents assets, investments in equity affiliates and capital expenditures by segment: At or for the years ended December 31, 2022 2021 Assets Investments in Capital Assets Investments in Capital Communications $ 471,444 $ — $ 18,962 $ 448,757 $ — $ 14,691 Latin America 8,408 — 360 8,874 — 319 Corporate and eliminations 1 (76,999) 3,533 304 93,991 6,168 535 Total $ 402,853 $ 3,533 $ 19,626 $ 551,622 $ 6,168 $ 15,545 1 Includes $119,776 of assets from discontinued operations at December 31, 2021. |
Revenue Recognition (Tables)
Revenue Recognition (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
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, 2022 Communications Mobility Business Wireline Consumer Wireline Latin America Corporate & Other Elim. Total Wireless service $ 60,499 $ — $ — $ 2,162 $ 13 $ — $ 62,674 Business service — 21,891 — — — — 21,891 Broadband — — 9,669 — — — 9,669 Legacy voice and data — — 1,746 — 323 — 2,069 Other — — 1,334 — 194 — 1,528 Total Service 60,499 21,891 12,749 2,162 530 — 97,831 Equipment 21,281 647 — 982 — — 22,910 Total $ 81,780 $ 22,538 $ 12,749 $ 3,144 $ 530 $ — $ 120,741 For the year ended December 31, 2021 Communications Mobility Business Wireline Consumer Wireline Latin America Corporate & Other Elim. Total Wireless service $ 57,590 $ — $ — $ 1,834 $ 74 $ — $ 59,498 Video service — — — — 15,423 — 15,423 Business service — 23,224 — — 70 — 23,294 Broadband — — 9,085 — — — 9,085 Legacy voice and data — — 1,977 — 429 — 2,406 Other — — 1,384 — 611 (136) 1,859 Total Service 57,590 23,224 12,446 1,834 16,607 (136) 111,565 Equipment 20,664 713 93 913 90 — 22,473 Total $ 78,254 $ 23,937 $ 12,539 $ 2,747 $ 16,697 $ (136) $ 134,038 For the year ended December 31, 2020 Communications Mobility Business Wireline Consumer Wireline Latin America Corporate & Other Elim. Total Wireless service $ 55,542 $ — $ — $ 1,656 $ 528 $ — $ 57,726 Video service — — — — 28,465 — 28,465 Business service — 24,313 — — 314 — 24,627 Broadband — — 8,534 — — — 8,534 Legacy voice and data — — 2,213 — 554 — 2,767 Other — — 1,564 — 641 (267) 1,938 Total Service 55,542 24,313 12,311 1,656 30,502 (267) 124,057 Equipment 17,022 770 7 906 288 — 18,993 Total $ 72,564 $ 25,083 $ 12,318 $ 2,562 $ 30,790 $ (267) $ 143,050 |
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 2022 2021 Deferred Acquisition Costs Prepaid and other current assets $ 2,893 $ 2,551 Other Assets 3,913 3,247 Total deferred customer contract acquisition costs $ 6,806 $ 5,798 Deferred Fulfillment Costs Prepaid and other current assets $ 2,481 $ 2,600 Other Assets 4,206 4,148 Total deferred customer contract fulfillment costs $ 6,687 $ 6,748 The following table presents deferred customer contract acquisition and fulfillment cost amortization included in “Other cost of revenue” for the years ended December 31: Consolidated Statements of Income 2022 2021 1 Deferred acquisition cost amortization $ 2,935 $ 2,965 Deferred fulfillment cost amortization 2,688 4,014 1 Includes deferred acquisition amortization of $409 and deferred fulfillment cost amortization of $1,162 from our separated Video business for the year ended December 31, 2021. |
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 2022 2021 Contract asset $ 5,512 $ 4,389 Current portion in “Prepaid and other current assets” 2,941 2,582 Contract liability 4,170 4,133 Current portion in “Advanced billings and customer deposits” 3,816 3,776 |
Acquisitions, Dispositions An_2
Acquisitions, Dispositions And Other Adjustments (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Business Combination and Asset Acquisition [Abstract] | |
Schedule of Assets and Liabilities | 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 The following is a summary of operating results included in income (loss) from discontinued operations for the years ended: 2022 2021 2020 Revenues $ 9,454 $ 34,826 $ 28,710 Operating Expenses Cost of revenues 5,481 19,400 14,269 Selling, general and administrative 2,791 8,275 7,222 Asset abandonments and impairments 1 — 4,691 3,193 Depreciation and amortization 1,172 5,010 5,993 Total operating expenses 9,444 37,376 30,677 Interest expense 131 168 198 Equity in net income (loss) of affiliates (27) 28 6 Other income (expense) — net 2 (87) 466 (343) Total other income (expense) (245) 326 (535) Net loss before income taxes (235) (2,224) (2,502) Income tax expense (benefit) (54) 73 (203) Net loss from discontinued operations $ (181) $ (2,297) $ (2,299) 1 2021 includes $4,555 impairment resulting from our assessment of the recoverability of Vrio’s net assets. 2020 includes approximately $2,200 of goodwill impairment at Vrio and $1,000 from production, content and other impairment at WarnerMedia. The implied fair value of the Vrio business was estimated using both the discounted cash flow as well as market multiple approaches. 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. 2 “Other income (expense) - net” includes the gain of $706 from Playdemic for the year ended 2021. The following is a summary of assets and liabilities attributable to discontinued operations, which were included in our historical Consolidated Balance Sheet at December 31: 2021 Assets: Current assets $ 9,005 Noncurrent Inventories and Theatrical Film and Television Production Costs 18,983 Property, Plant and Equipment — Net 4,255 Goodwill 40,484 Other Intangibles — Net 40,273 Other Assets 6,776 Total Assets, discontinued operations $ 119,776 Liabilities: Current liabilities $ 12,912 Other liabilities 20,643 Total Liabilities, discontinued operations $ 33,555 |
Property, Plant And Equipment (
Property, Plant And Equipment (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Property, Plant and Equipment [Abstract] | |
Schedule of Property, Plant and Equipment | Property, plant and equipment is summarized as follows at December 31: Lives (years) 2022 2021 Land - $ 1,381 $ 1,401 Buildings and improvements 2-44 38,751 38,204 Central office equipment 1 3-10 98,468 97,070 Cable, wiring and conduit 15-50 84,447 79,961 Satellites 14-17 103 103 Other equipment 3-20 81,658 85,929 Software 3-7 17,640 16,520 Under construction - 7,182 5,425 329,630 324,613 Accumulated depreciation and amortization 202,185 202,964 Property, plant and equipment – net $ 127,445 $ 121,649 1 Includes certain network software. |
Leases (Tables)
Leases (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
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: 2022 2021 2020 Operating lease cost $ 5,437 $ 5,363 $ 5,331 Finance lease cost: Amortization of right-of-use assets $ 204 $ 179 $ 185 Interest on lease obligation 159 145 133 Total finance lease cost $ 363 $ 324 $ 318 The following table provides supplemental cash flows information related to leases: 2022 2021 2020 Cash Flows from Operating Activities Cash paid for amounts included in lease obligations: Operating cash flows from operating leases $ 4,679 $ 4,580 $ 4,496 Supplemental Lease Cash Flow Disclosures Operating lease right-of-use assets obtained in exchange for new operating lease obligations 3,751 3,396 4,057 The following tables set forth supplemental balance sheet information related to leases at December 31: 2022 2021 Operating Leases Operating lease right-of-use assets $ 21,814 $ 21,824 Accounts payable and accrued liabilities $ 3,547 $ 3,393 Operating lease obligation 18,659 18,956 Total operating lease obligation $ 22,206 $ 22,349 Finance Leases Property, plant and equipment, at cost $ 2,770 $ 2,494 Accumulated depreciation and amortization (1,224) (1,053) Property, plant and equipment – net $ 1,546 $ 1,441 Current portion of long-term debt $ 170 $ 127 Long-term debt 1,647 1,442 Total finance lease obligation $ 1,817 $ 1,569 2022 2021 Weighted-Average Remaining Lease Term (years) Operating leases 8.1 8.2 Finance leases 7.9 8.9 Weighted-Average Discount Rate Operating leases 3.7 % 3.7 % Finance leases 8.0 % 8.2 % |
Schedule of Maturities of Operating Leases | The following table provides the expected future minimum maturities of lease obligations: At December 31, 2022 Operating Leases Finance 2023 $ 4,657 $ 315 2024 4,203 306 2025 3,543 315 2026 2,830 291 2027 2,302 290 Thereafter 8,933 1,032 Total lease payments 26,468 2,549 Less: imputed interest (4,262) (732) Total $ 22,206 $ 1,817 |
Schedule of Maturities of Finance Leases | The following table provides the expected future minimum maturities of lease obligations: At December 31, 2022 Operating Leases Finance 2023 $ 4,657 $ 315 2024 4,203 306 2025 3,543 315 2026 2,830 291 2027 2,302 290 Thereafter 8,933 1,032 Total lease payments 26,468 2,549 Less: imputed interest (4,262) (732) Total $ 22,206 $ 1,817 |
Goodwill And Other Intangible_2
Goodwill And Other Intangible Assets (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
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: 2022 2021 Balance at Impairments Dispositions, Balance at Balance at Dispositions, Balance at Communications Goodwill $ 91,924 $ — $ (43) $ 91,881 $ 91,976 $ (52) $ 91,924 Impairments — (23,986) — (23,986) — — — Net goodwill 91,924 (23,986) (43) 67,895 91,976 (52) 91,924 Latin America 816 (826) 10 — 836 (20) 816 Total $ 92,740 $ (24,812) $ (33) $ 67,895 $ 92,812 $ (72) $ 92,740 |
Schedule of Amortized Intangible Assets | Our other intangible assets at December 31 are summarized as follows: 2022 2021 Other Intangible Assets Weighted-Average Life Gross Carrying Accumulated Currency Gross Carrying Accumulated Currency Amortized intangible assets: Wireless licenses 21.6 years $ 3,045 $ 425 $ (297) $ 3,083 $ 307 $ (440) Trademarks and trade names 15.0 years 26 11 (6) 27 11 (7) Customer lists and relationships 12.6 years 413 304 (75) 577 429 (98) Other 8.5 years 304 234 — 349 258 — Total 21.1 years $ 3,788 $ 974 $ (378) $ 4,036 $ 1,005 $ (545) |
Schedule of Indefinite-Life Intangible Assets Not Subject to Amortization | Indefinite-lived intangible assets not subject to amortization: Wireless licenses $ 121,769 $ 111,494 Trade names 5,241 5,241 Total $ 127,010 $ 116,735 |
Equity Method Investments (Tabl
Equity Method Investments (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Equity Method Investments and Joint Ventures [Abstract] | |
Equity Method Investments [Table Text Block] | The following table presents summarized financial information for DIRECTV and our other equity method investments, consisting primarily of SKY Mexico and certain sports-related programming investments, at December 31, or for the year then ended: 2022 2021 2020 Income Statements 1 Operating revenues $ 25,794 $ 12,220 $ 1,282 Operating income 3,175 1,179 157 Net income 2,581 938 91 Balance Sheets Current assets 4,240 5,295 Noncurrent assets 14,211 17,022 Current liabilities 6,681 7,191 Noncurrent liabilities 7,951 8,614 1 Does not include DIRECTV for periods prior to August 1, 2021. The following table is a reconciliation of our investments in equity affiliates as presented on our consolidated balance sheets: 2022 2021 Beginning of year $ 6,168 $ 742 Additional investments 3 — Receipt of equity interest in DIRECTV — 6,852 Distributions from DIRECTV in excess of cumulative equity in earnings (2,649) (1,323) Other capital distributions — (6) Dividends and distributions of cumulative earnings received (1,815) (701) Equity in net income of affiliates 1,791 603 Currency translation adjustments 25 (14) Other adjustments 10 15 End of year $ 3,533 $ 6,168 |
Debt (Tables)
Debt (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
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: 2022 2021 Notes and debentures Interest Rates 1 Maturities 0.00% - 2.99% 2022 - 2039 $ 24,603 $ 31,612 3.00% - 4.99% 2022 - 2061 91,201 107,635 5.00% - 6.99% 2022 - 2095 20,083 23,023 7.00% - 12.00% 2022 - 2097 4,884 5,056 Credit agreement borrowings 2,500 10,400 Fair value of interest rate swaps recorded in debt 13 16 143,284 177,742 Unamortized (discount) premium – net (9,650) (9,758) Unamortized issuance costs (427) (508) Total notes and debentures 133,207 167,476 Finance lease obligations 1,817 1,569 Total long-term debt, including current maturities 135,024 169,045 Current maturities of long-term debt (6,601) (7,934) Current maturities of credit agreement borrowings — (10,100) Total long-term debt $ 128,423 $ 151,011 1 Foreign debt includes the impact from hedges, when applicable. |
Debt Maturing Within One Year | 2022 2021 Current maturities of long-term debt $ 6,601 $ 7,934 Commercial paper 866 6,586 Credit agreement borrowings — 10,100 Total $ 7,467 $ 24,620 |
Schedule of Debt Activity | Our debt activity during 2022 primarily consisted of the following: First Second Third Fourth Full Year 2022 Net commercial paper borrowings $ 1,471 $ (5,219) $ (724) $ (1,337) $ (5,809) Issuance of Notes and Debentures: Private Financing $ — $ — $ 750 $ — $ 750 2025 Term Loan — — — 2,500 2,500 Other 479 — — — 479 Debt Issuances $ 479 $ — $ 750 $ 2,500 $ 3,729 Repayments: 2021 Syndicated Term Loan $ — $ (7,350) $ — $ — $ (7,350) BAML Bilateral Term Loan – Tranche A — (1,000) — — (1,000) Private financing — (750) — (750) (1,500) Repayment of other short-term borrowings $ — $ (9,100) $ — $ (750) $ (9,850) USD notes 1,2,3 $ (123) $ (18,957) $ — $ (287) $ (19,367) Euro notes — (3,343) — — (3,343) BAML Bilateral Term Loan – Tranche B — (1,000) — — (1,000) Other (667) (123) (199) (419) (1,408) Repayments of long-term debt $ (790) $ (23,423) $ (199) $ (706) $ (25,118) 1 On April 11, 2022, we issued notices for the redemption in full of all of the outstanding approximately $9,042 aggregate principal amount of various global notes due 2022 to 2026 with coupon rates ranging from 2.625% to 4.450% (Make-Whole Notes). The Make-Whole Notes were redeemed on the redemption dates set forth in the notices of redemption, at “make whole” redemption prices calculated as set forth in the respective redemption notices in the second quarter. 2 Includes $7,954 of cash paid toward the $8,822 aggregate principal amount of various notes that were tendered for cash in May 2022. The notes had interest rates ranging between 3.100% and 8.750% and original maturities ranging from 2026 to 2061. 3 Includes $287 of principal repayment on a $592 zero coupon note that matured in November 2022. The other $305 was applied to operating cash flows related to interest expense that accreted to the note over its life. |
Long-Term Debt - Scheduled Repayments | 2023 2024 2025 2026 2027 Thereafter Debt repayments 1 $ 6,929 $ 8,950 $ 5,948 $ 8,619 $ 6,278 $ 110,949 Weighted-average interest rate 2 3.7 % 4.1 % 5.5 % 3.1 % 3.7 % 4.2 % 1 Debt repayments represent maturity value. 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, 2022 | |
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, 2022 December 31, 2021 Carrying Fair Carrying Fair Notes and debentures 1 $ 133,207 $ 122,524 $ 167,476 $ 193,068 Commercial paper 866 866 6,586 6,586 Investment securities 2 2,692 2,692 3,214 3,214 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, 2022 and December 31, 2021. 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, 2022 Level 1 Level 2 Level 3 Total Equity Securities Domestic equities $ 995 $ — $ — $ 995 International equities 198 — — 198 Fixed income equities 189 — — 189 Available-for-Sale Debt Securities — 1,132 — 1,132 Asset Derivatives Cross-currency swaps — 28 — 28 Liability Derivatives Cross-currency swaps — (6,010) — (6,010) Foreign exchange contracts — (23) — (23) December 31, 2021 Level 1 Level 2 Level 3 Total Equity Securities Domestic equities $ 1,213 $ — $ — $ 1,213 International equities 221 — — 221 Fixed income equities 219 — — 219 Available-for-Sale Debt Securities — 1,380 — 1,380 Asset Derivatives Cross-currency swaps — 211 — 211 Liability Derivatives Cross-currency swaps — (3,170) — (3,170) |
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, 2022 2021 2020 Total gains (losses) recognized on equity securities $ (309) $ 293 $ 171 Gains (Losses) recognized on equity securities sold (80) (5) (25) Unrealized gains (losses) recognized on equity securities held at end of period $ (229) $ 298 $ 196 |
Notional Amount of Outstanding Derivative Positions | Following are the notional amounts of our outstanding derivative positions at December 31: 2022 2021 Cross-currency swaps $ 38,213 $ 40,737 Foreign exchange contracts 617 — Total $ 38,830 $ 40,737 |
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, 2022 2021 2020 Interest rate swaps (Interest expense): Gain (Loss) on interest rate swaps $ (3) $ (4) $ (6) Gain (Loss) on long-term debt 3 4 6 Cross-currency swaps: Gain (Loss) on cross-currency swaps 2,195 (91) — Gain (Loss) on long-term debt (2,195) 91 — Gain (Loss) recognized in accumulated OCI 297 (17) — Foreign exchange contracts: Gain (Loss) on foreign exchange contracts (12) — — Gain (Loss) on long-term debt 12 — — Gain (Loss) recognized in accumulated OCI (12) — — Cash Flow Hedging Relationships For the years ended December 31, 2022 2021 2020 Cross-currency swaps: Gain (Loss) recognized in accumulated OCI $ (1,119) $ (873) $ (378) Foreign exchange contracts: Gain (Loss) recognized in accumulated OCI 3 (17) 3 Other income (expense) – net reclassified from accumulated OCI into income 1 1 (3) Interest rate locks: Gain (Loss) recognized in accumulated OCI — — (648) Interest income (expense) reclassified from accumulated OCI into income (65) (92) (84) Other income (expense) reclassified from accumulated OCI into income (45) — — Distribution of WarnerMedia (12) — — |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Income Tax Disclosure [Abstract] | |
Components Of Deferred Tax Liabilities (Assets) | Significant components of our deferred tax liabilities (assets) are as follows at December 31: 2022 2021 Depreciation and amortization $ 36,570 $ 35,894 Licenses and nonamortizable intangibles 19,339 15,573 Employee benefits (2,251) (3,178) Deferred fulfillment costs 1,989 1,797 Equity in partnership 3,284 3,285 Net operating loss and other carryforwards (5,817) (6,109) Other – net (343) 2,153 Subtotal 52,771 49,415 Deferred tax assets valuation allowance 4,175 4,343 Net deferred tax liabilities $ 56,946 $ 53,758 Noncurrent deferred tax liabilities $ 57,032 $ 53,767 Less: Noncurrent deferred tax assets (86) (9) Net deferred tax liabilities $ 56,946 $ 53,758 |
Changes in Unrecognized Tax Benefits Balance | A reconciliation of the change in our UTB balance from January 1 to December 31 for 2022 and 2021 is as follows: Federal, State and Foreign Tax 2022 2021 Balance at beginning of year $ 8,954 $ 9,415 Increases for tax positions related to the current year 1,389 677 Increases for tax positions related to prior years 577 332 Decreases for tax positions related to prior years (1,079) (1,169) Lapse of statute of limitations (2) (6) Settlements (182) (295) Balance at end of year 9,657 8,954 Accrued interest and penalties 1,930 2,054 Gross unrecognized income tax benefits 11,587 11,008 Less: Deferred federal and state income tax benefits (723) (728) Less: Tax attributable to timing items included above (4,640) (3,428) Total UTB that, if recognized, would impact the effective income tax rate as of the end of the year $ 6,224 $ 6,852 |
Components of Income Tax Expense (Benefit) | The components of income tax (benefit) expense are as follows: 2022 2021 2020 Federal: Current $ 579 $ (2,400) $ (346) Deferred 2,206 6,872 858 2,785 4,472 512 State and local: Current 21 289 338 Deferred 912 648 272 933 937 610 Foreign: Current 106 (66) 14 Deferred (44) 52 32 62 (14) 46 Total $ 3,780 $ 5,395 $ 1,168 |
Schedule of Income before Income Tax, Domestic and Foreign | “Income (Loss) from Continuing Operations Before Income Taxes” in the Consolidated Statements of Income included the following components for the years ended December 31: 2022 2021 2020 U.S. income (loss) before income taxes $ (1,480) $ 29,678 $ 510 Foreign income (loss) before income taxes (1,614) (507) (864) Total $ (3,094) $ 29,171 $ (354) |
Reconciliation of Income Tax Expense (Benefit) Based on Federal Statutory Rate to Amount Per Effective Tax Rate | A reconciliation of income tax expense (benefit) on continuing operations 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: 2022 2021 2020 Taxes computed at federal statutory rate $ (650) $ 6,126 $ (74) Increases (decreases) in income taxes resulting from: State and local income taxes – net of federal income tax benefit 795 936 170 CARES Act federal NOL carryback — (471) — Tax on foreign investments 43 47 (124) Noncontrolling interest (308) (291) (286) Permanent items and R&D credit (121) (153) (195) Audit resolutions (642) (220) (112) Divestitures (481) (558) 107 Goodwill impairment 1 5,210 16 1,702 Other – net (66) (37) (20) Total $ 3,780 $ 5,395 $ 1,168 Effective Tax Rate (122.2) % 18.5 % (329.9) % 1 Goodwill impairments are not deductible for tax purposes. |
Pension And Postretirement Be_2
Pension And Postretirement Benefits (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
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 2022 2021 2022 2021 Benefit obligation at beginning of year $ 57,212 $ 62,158 $ 12,552 $ 13,928 Service cost - benefits earned during the period 617 957 32 45 Interest cost on projected benefit obligation 1,747 1,276 277 210 Amendments — — (2,370) — Actuarial (gain) loss (10,894) (1,237) (1,919) (275) Benefits paid, including settlements (5,854) (5,942) (1,292) (1,356) Benefit obligation at end of year $ 42,828 $ 57,212 $ 7,280 $ 12,552 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 2022 2021 2022 2021 Fair value of plan assets at beginning of year $ 54,401 $ 54,606 $ 3,198 $ 3,843 Actual return on plan assets (7,673) 5,737 (370) 210 Benefits paid, including settlements 1 (5,854) (5,942) (788) (1,163) Contributions — — 120 308 Fair value of plan assets at end of year 40,874 54,401 2,160 3,198 Unfunded status at end of year 2 $ (1,954) $ (2,811) $ (5,120) $ (9,354) 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 2022 2021 2022 2021 Current portion of employee benefit obligation 1 $ — $ — $ (1,058) $ (1,106) Employee benefit obligation 2 (1,954) (2,811) (4,062) (8,248) Net amount recognized $ (1,954) $ (2,811) $ (5,120) $ (9,354) 1 Included in “Accounts payable and accrued liabilities.” 2 Included in “Postemployment benefit obligation,” combined with international pension obligations and other postemployment obligations of $161 and $1,083 at December 31, 2022, and $364 and $1,226 at December 31, 2021, 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 2022 2021 2020 2022 2021 2020 Service cost – benefits earned during the period $ 617 $ 957 $ 1,029 $ 32 $ 45 $ 53 Interest cost on projected benefit obligation 1,747 1,276 1,687 277 210 416 Expected return on assets (3,107) (3,513) (3,557) (112) (151) (178) Amortization of prior service credit (133) (144) (113) (2,558) (2,537) (2,329) Net periodic benefit cost (credit) before remeasurement (876) (1,424) (954) (2,361) (2,433) (2,038) Actuarial (gain) loss (115) (3,461) 2,404 (1,437) (334) 1,299 Net pension and postretirement cost (credit) $ (991) $ (4,885) $ 1,450 $ (3,798) $ (2,767) $ (739) 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 2022 2021 2020 2022 2021 2020 Balance at beginning of year $ 416 $ 525 $ 361 $ 6,496 $ 8,408 $ 8,163 Prior service (cost) credit — — 250 1,786 — 2,001 Amortization of prior service credit (100) (109) (86) (1,928) (1,912) (1,756) Total recognized in other comprehensive (income) loss (100) (109) 164 (142) (1,912) 245 Balance at end of year $ 316 $ 416 $ 525 $ 6,354 $ 6,496 $ 8,408 |
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 2022 2021 2020 2022 2021 2020 Weighted-average discount rate for determining benefit obligation at December 31 5.20 % 3.00 % 2.70 % 5.20 % 2.80 % 2.40 % Discount rate in effect for determining service cost 1 4.40 % 3.30 % 3.60 % 4.00 % 2.90 % 3.50 % Discount rate in effect for determining interest cost 1 3.90 % 2.30 % 2.90 % 3.20 % 1.60 % 2.70 % Weighted-average interest credit rate for cash balance pension programs 2 4.10 % 3.20 % 3.10 % — % — % — % Long-term rate of return on plan assets 6.75 % 6.75 % 7.00 % 4.50 % 4.50 % 4.75 % 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 (credit) 3.00 % 3.00 % 3.00 % 3.00 % 3.00 % 3.00 % 1 Weighted-average discount rates shown for years with interim remeasurements: 2022 and 2021 for pension benefits and 2022 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 $135. |
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 2022 2021 Target 2022 2021 Equity securities: Domestic 5 % - 25 % 7 % 16 % 16 % - 26 % 21 % 19 % International 1 % - 21 % 4 13 16 % - 26 % 21 19 Fixed income securities 40 % - 50 % 45 38 42 % - 52 % 47 39 Real assets — % - 20 % 16 10 — % - 6 % 1 1 Private equity — % - 16 % 14 12 — % - 6 % 1 1 Preferred interests 8 % - 18 % 13 10 — % - — % — — Other — % - 5 % 1 1 5 % - 15 % 9 21 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, 2022: Pension Assets and Liabilities at Fair Value as of December 31, 2022 Level 1 Level 2 Level 3 Total Non-interest bearing cash $ 158 $ — $ — $ 158 Interest bearing cash 5 — — 5 Foreign currency contracts — 4 — 4 Equity securities: Domestic equities 2,312 — 2 2,314 International equities 1,251 — — 1,251 Preferred interests — — 5,427 5,427 Fixed income securities: Corporate bonds and other investments — 9,366 1 9,367 Government and municipal bonds — 5,450 — 5,450 Mortgage-backed securities — 220 — 220 Real estate and real assets — — 4,343 4,343 Securities lending collateral 1,137 1,407 — 2,544 Receivable for variation margin 5 — — 5 Assets at fair value 4,868 16,447 9,773 31,088 Investments sold short and other liabilities at fair value (261) (5) — (266) Total plan net assets at fair value $ 4,607 $ 16,442 $ 9,773 $ 30,822 Assets held at net asset value practical expedient Private equity funds 5,866 Real estate funds 1,907 Commingled funds 5,045 Total assets held at net asset value practical expedient 12,818 Other assets (liabilities) 1 (2,766) Total Plan Net Assets $ 40,874 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, 2022 Level 1 Level 2 Level 3 Total Interest bearing cash $ 191 $ 4 $ — $ 195 Equity securities: Domestic equities 258 — — 258 International equities 233 — 1 234 Securities lending collateral — 12 — 12 Assets at fair value 682 16 1 699 Securities lending payable and other liabilities — (12) — (12) Total plan net assets at fair value $ 682 $ 4 $ 1 $ 687 Assets held at net asset value practical expedient Private equity funds 13 Real estate funds 13 Commingled funds 1,445 Total assets held at net asset value practical expedient 1,471 Other assets (liabilities) 1 2 Total Plan Net Assets $ 2,160 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, 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 funds 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. |
Summary of Changes in The Fair Value of the Level 3 Pension and Postretirement Assets | For the years ended December 31, 2022 and 2021, our postretirement assets did not include significant investments in Level 3 assets, nor were there significant changes in fair value of those assets during the period. The tables below set forth a summary of changes in the fair value of the Level 3 pension assets for the years ended: Equities Fixed Income Funds Real Estate and Real Assets Total Balance as of December 31, 2021 $ 5,569 $ 2 $ 3,318 $ 8,889 Realized gains (losses) 1 — 22 23 Unrealized gains (losses) (139) — 802 663 Transfers in 1 1 20 22 Transfers out — (2) (29) (31) Purchases — — 716 716 Sales (3) — (506) (509) Balance as of December 31, 2022 $ 5,429 $ 1 $ 4,343 $ 9,773 Equities Fixed Income Funds Real Estate and Real Assets Total Balance as of December 31, 2020 $ 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 as of December 31, 2021 $ 5,569 $ 2 $ 3,318 $ 8,889 |
Estimated Future Benefit Payments | The following table provides expected benefit payments under our pension and postretirement plans: Pension Benefits Postretirement Benefits 2023 $ 5,612 $ 1,211 2024 3,734 801 2025 3,747 640 2026 3,632 598 2027 3,561 568 Years 2028 - 2032 16,688 2,322 |
Share-Based Payments (Tables)
Share-Based Payments (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
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: 2022 2021 2020 Performance stock units $ 168 $ 248 $ 348 Restricted stock and stock units 350 199 74 Other nonvested stock units — — — Stock options — — — Total $ 518 $ 447 $ 422 Income tax benefit $ 127 $ 110 $ 104 |
Status of Nonvested Stock Units Activity and Changes During Year | A summary of the status of our nonvested stock units as of December 31, 2022, 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, 2022 35 $ 32.33 Granted 21 23.64 Vested (28) 27.64 Forfeited (5) 23.76 Spin-off Adjustment 1 13 NA Nonvested at December 31, 2022 36 $ 22.07 1 In connection with the WarnerMedia transaction, AT&T made certain adjustments to the number of stock awards to maintain the intrinsic value prior to the spin-off. |
Sales Of Receivables (Tables)
Sales Of Receivables (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Receivables [Abstract] | |
Schedule of Finance Receivables | The following table sets forth a summary of cash proceeds received, net of remittances paid, from sales of receivables for the years ended December 31: 2022 2021 2020 Net cash received (paid) from equipment installment receivables 1 $ 1,875 $ 1,000 $ (1,565) Net cash received (paid) from other programs 620 (295) 295 Total net cash impact to cash flows from operating activities $ 2,495 $ 705 $ (1,270) 1 Net cash from initial sales of $11,129, $9,740 and $6,089 for the years ended December 31, 2022, 2021 and 2020, respectively. The following table sets forth a summary of the equipment installment receivables and accounts being serviced at December 31: 2022 2021 Gross receivables: $ 4,165 $ 4,361 Balance sheet classification Accounts receivable Notes receivable 1,789 1,846 Trade receivables 522 606 Other Assets Noncurrent notes and trade receivables 1,854 1,909 Outstanding portfolio of receivables derecognized from our consolidated balance sheets $ 11,030 $ 9,767 Cash proceeds received, net of remittances 1 8,519 6,644 1 Represents amounts to which financial institutions remain entitled, excluding the deferred purchase price. The following table presents the previously transferred equipment installment receivables, which we repurchased in exchange for the associated deferred purchase price: 2022 2021 2020 Fair value of repurchased receivables $ 3,314 $ 1,424 $ 1,271 Carrying value of deferred purchase price 3,335 1,334 1,235 Gain (loss) on repurchases 1 $ (21) $ 90 $ 36 1 These gains (losses) are included in “Selling, general and administrative” expense in the consolidated statements of income. |
Schedule of Receivables Sold | The following table sets forth a summary of equipment installment receivables sold under this program: 2022 2021 2020 Gross receivables sold $ 11,510 $ 10,793 $ 7,270 Net receivables sold 1 11,061 10,502 7,026 Cash proceeds received 11,129 9,740 6,089 Deferred purchase price recorded 245 1,080 1,021 Guarantee obligation recorded 703 434 157 1 Receivables net of allowance, imputed interest and equipment trade-in right guarantees. |
Additional Financial Informat_2
Additional Financial Information (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Consolidated Balance Sheets | December 31, Consolidated Balance Sheets 2022 2021 Accounts payable and accrued liabilities: Accounts payable $ 31,101 $ 29,511 Accrued payroll and commissions 1,605 2,082 Current portion of employee benefit obligation 1,173 1,234 Current portion of Mobility preferred interests 1 2,670 — Accrued interest 2,160 2,438 Accrued taxes 798 1,148 Other 3,137 2,682 Total accounts payable and accrued liabilities $ 42,644 $ 39,095 1 Reported as noncontrolling interest in 2021. (See Note 16) |
Consolidated Statements of Income | Consolidated Statements of Income 2022 2021 2020 Advertising expense $ 2,462 $ 2,732 $ 2,705 Interest expense incurred $ 7,402 $ 7,670 $ 7,850 Capitalized interest – capital expenditures (174) (173) (123) Capitalized interest – spectrum 1 (1,120) (781) — Total interest expense $ 6,108 $ 6,716 $ 7,727 1 Included in “Acquisitions, net of cash acquired” on our consolidated statements of cash flows. |
Consolidated Statements of Cash Flows | The following table summarizes cash and cash equivalents and restricted cash balances contained on our consolidated balance sheets: December 31, Cash and Cash Equivalents and Restricted Cash 2022 2021 2020 2019 Cash and cash equivalents from continuing operations $ 3,701 $ 19,223 $ 7,924 $ 9,702 Cash and cash equivalents from discontinued operations — 1,946 1,816 2,428 Restricted cash in Prepaid and other current assets 1 3 9 69 Restricted cash in Other Assets 91 144 121 96 Cash and cash equivalents and restricted cash $ 3,793 $ 21,316 $ 9,870 $ 12,295 The following tables summarize certain cash flow activities from continuing operations: Consolidated Statements of Cash Flows 2022 2021 2020 Cash paid (received) during the year for: Interest $ 7,772 $ 7,485 $ 8,010 Income taxes, net of refunds 1 592 252 577 1 Total cash income taxes paid, net of refunds, by AT&T was $696, $700 and $993 for 2022, 2021 and 2020, respectively. Purchase of property and equipment $ 19,452 $ 15,372 $ 14,567 Interest during construction - capital expenditures 1 174 173 123 Total Capital expenditures $ 19,626 $ 15,545 $ 14,690 Business acquisitions $ — $ — $ 12 Spectrum acquisitions 9,080 24,672 1,613 Interest during construction - spectrum 1 1,120 781 — Total Acquisitions, net of cash acquired $ 10,200 $ 25,453 $ 1,625 1 Total capitalized interest was $1,294, $954 and $123 for 2022, 2021 and 2020, respectively. |
Discontinued Operations and D_2
Discontinued Operations and Disposal Groups (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Discontinued Operations and Disposal Groups [Abstract] | |
Disposal Groups, Including Discontinued Operations [Table Text Block] | 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 The following is a summary of operating results included in income (loss) from discontinued operations for the years ended: 2022 2021 2020 Revenues $ 9,454 $ 34,826 $ 28,710 Operating Expenses Cost of revenues 5,481 19,400 14,269 Selling, general and administrative 2,791 8,275 7,222 Asset abandonments and impairments 1 — 4,691 3,193 Depreciation and amortization 1,172 5,010 5,993 Total operating expenses 9,444 37,376 30,677 Interest expense 131 168 198 Equity in net income (loss) of affiliates (27) 28 6 Other income (expense) — net 2 (87) 466 (343) Total other income (expense) (245) 326 (535) Net loss before income taxes (235) (2,224) (2,502) Income tax expense (benefit) (54) 73 (203) Net loss from discontinued operations $ (181) $ (2,297) $ (2,299) 1 2021 includes $4,555 impairment resulting from our assessment of the recoverability of Vrio’s net assets. 2020 includes approximately $2,200 of goodwill impairment at Vrio and $1,000 from production, content and other impairment at WarnerMedia. The implied fair value of the Vrio business was estimated using both the discounted cash flow as well as market multiple approaches. 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. 2 “Other income (expense) - net” includes the gain of $706 from Playdemic for the year ended 2021. The following is a summary of assets and liabilities attributable to discontinued operations, which were included in our historical Consolidated Balance Sheet at December 31: 2021 Assets: Current assets $ 9,005 Noncurrent Inventories and Theatrical Film and Television Production Costs 18,983 Property, Plant and Equipment — Net 4,255 Goodwill 40,484 Other Intangibles — Net 40,273 Other Assets 6,776 Total Assets, discontinued operations $ 119,776 Liabilities: Current liabilities $ 12,912 Other liabilities 20,643 Total Liabilities, discontinued operations $ 33,555 |
Quarterly Financial Informati_2
Quarterly Financial Information (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Quarterly Financial Information Disclosure [Abstract] | |
Quarterly Financial Information [Table Text Block] | The following tables represent our quarterly financial results: 2022 Calendar Quarter First 1 Second 1 Third 1 Fourth 1,2 Annual Total Operating Revenues $ 29,712 $ 29,643 $ 30,043 $ 31,343 $ 120,741 Operating Income (Loss) 5,537 4,956 6,012 (21,092) (4,587) Net Income (Loss) from Continuing Operations 5,149 4,751 6,346 (23,120) (6,874) Net Income (Loss) from Continuing Operations Attributable to Common Stock 4,747 4,319 5,924 (23,536) (8,546) Basic Earnings (Loss) Per Share Attributable to Common Stock from Continuing Operations 3 $ 0.66 $ 0.60 $ 0.82 $ (3.20) $ (1.10) Diluted Earnings (Loss) Per Share Attributable to Common Stock from Continuing Operations 3 $ 0.65 $ 0.59 $ 0.79 $ (3.20) $ (1.10) 1 Includes actuarial gains and losses on pension and postretirement benefit plans (Note 14). 2 Includes goodwill impairments (Note 9) and an asset abandonment charge (Note 7). 3 Quarterly earnings per share impacts may not add to full-year earnings per share impacts due to the difference in weighted-average common shares for the quarters versus the weighted-average common shares for the year. 2021 Calendar Quarter First 1 Second 1 Third 1 Fourth 1 Annual Total Operating Revenues $ 35,877 $ 35,740 $ 31,326 $ 31,095 $ 134,038 Operating Income 7,194 7,572 6,237 4,894 25,897 Net Income from Continuing Operations 7,586 5,969 5,019 5,202 23,776 Net Income from Continuing Operations Attributable to Common Stock 7,143 5,526 4,613 4,802 22,084 Basic Earnings Per Share Attributable to Common Stock from Continuing Operations 2 $ 0.99 $ 0.77 $ 0.64 $ 0.67 $ 3.07 Diluted Earnings Per Share Attributable to Common Stock from Continuing Operations 2 $ 0.97 $ 0.76 $ 0.63 $ 0.66 $ 3.02 1 Includes actuarial gains and losses on pension and postretirement benefit plans (Note 14). 2 Quarterly earnings per share impacts may not add to full-year earnings per share impacts due to the difference in weighted-average common shares for the quarters versus the weighted-average common shares for the year. |
Accounting Policies (Impact of
Accounting Policies (Impact of Adoption on Diluted EPS) (Details) - $ / shares | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
Diluted earnings per share (in dollars per share) | $ (1.13) | $ 2.73 | $ (0.75) |
Historical Accounting Method | ASU 2020-06 [Member] | |||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
Diluted earnings per share (in dollars per share) | (1.10) | 3.07 | (0.45) |
Effect of Adoption, Adjustment | ASU 2020-06 [Member] | |||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
Diluted earnings per share (in dollars per share) | 0 | (0.05) | 0 |
Adjusted Balance after Adoption | ASU 2020-06 [Member] | |||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
Diluted earnings per share (in dollars per share) | $ (1.10) | $ 3.02 | $ (0.45) |
Summary Of Significant Accoun_3
Summary Of Significant Accounting Policies (Narrative) (Details) - USD ($) $ in Millions | 12 Months Ended | ||||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Jan. 01, 2020 | Dec. 31, 2019 | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||
Retained (deficit) earnings | $ 19,415 | $ (42,350) | |||
Contract asset | 5,512 | 4,389 | |||
Deferred income tax liability | 57,032 | 53,767 | |||
Noncontrolling interest | 8,957 | 17,523 | |||
Cash | 866 | ||||
Cash and cash equivalents | $ 3,701 | $ 19,223 | $ 7,924 | $ 9,702 | |
Estimated economic useful life | 21 years 1 month 6 days | ||||
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 | $ 2,835 | ||||
Foreign Jurisdictions | |||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||
Cash and cash equivalents | $ 1,045 | ||||
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 Segment [Member] | Wireless Licenses | |||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||
Estimated economic useful life | 25 years | ||||
ASU 2016-13 [Member] | |||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||
Retained (deficit) earnings | $ 293 | ||||
Allowance for credit loss | 395 | ||||
Contract asset | (10) | ||||
Deferred income tax liability | (105) | ||||
Noncontrolling interest | $ (7) |
Earnings Per Share (Details)
Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2022 | Sep. 30, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | Dec. 31, 2021 | Sep. 30, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Numerator for basic earnings per share: | |||||||||||
Income (Loss) from Continuing Operations | $ (23,120) | $ 6,346 | $ 4,751 | $ 5,149 | $ 5,202 | $ 5,019 | $ 5,969 | $ 7,586 | $ (6,874) | $ 23,776 | $ (1,522) |
Net income from continuing operations attributable to noncontrolling interests | (1,469) | (1,485) | (1,470) | ||||||||
Less: Preferred Stock Dividends | (203) | (207) | (193) | ||||||||
Income (loss) from continuing operations attributable to common stock | $ (23,536) | $ 5,924 | $ 4,319 | $ 4,747 | $ 4,802 | $ 4,613 | $ 5,526 | $ 7,143 | (8,546) | 22,084 | (3,185) |
Adjustment to carrying value of noncontrolling interest | 663 | 0 | 0 | ||||||||
Numerator for basic earnings per share from continuing operations | (7,883) | 22,084 | (3,185) | ||||||||
Loss from discontinued operations, net of tax | (181) | (2,297) | (2,299) | ||||||||
Loss from discontinued operations attributable to noncontrolling interests | 0 | 87 | 115 | ||||||||
Loss from discontinued operations attributable to common stock | (181) | (2,210) | (2,184) | ||||||||
Numerator for basic earnings per share | (8,064) | 19,874 | (5,369) | ||||||||
Dilutive potential common shares: | |||||||||||
Numerator for diluted earnings per share | $ (7,521) | $ 20,456 | $ (4,786) | ||||||||
Denominator for basic earnings per share: | |||||||||||
Weighted-average number of common shares outstanding (in shares) | 7,166 | 7,168 | 7,157 | ||||||||
Dilutive potential common shares: | |||||||||||
Denominator for diluted earnings per share (in shares) | 7,587 | 7,503 | 7,466 | ||||||||
Basic Earnings Per Share Attributable to Common Stock (in dollars per share) | $ (1.13) | $ 2.77 | $ (0.75) | ||||||||
Diluted earnings per share (in dollars per share) | $ (1.13) | $ 2.73 | $ (0.75) | ||||||||
AT&T Mobility II, LLC Preferred Interest Conversion [Member] | |||||||||||
Dilutive potential common shares: | |||||||||||
Dilutive potential common shares | $ 526 | $ 560 | $ 560 | ||||||||
Dilutive potential common shares: | |||||||||||
Share-based payment (in shares) | 378 | 304 | 283 | ||||||||
Other AT&T Units [Member] | |||||||||||
Dilutive potential common shares: | |||||||||||
Dilutive potential common shares | $ 17 | $ 22 | $ 23 | ||||||||
Dilutive potential common shares: | |||||||||||
Share-based payment (in shares) | 43 | 31 | 26 |
Earnings Per Share (Narrative)
Earnings Per Share (Narrative) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items] | |||
Adjustment to carrying value of noncontrolling interest | $ 663 | $ 0 | $ 0 |
Other Comprehensive Income (Det
Other Comprehensive Income (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |||
Other comprehensive income (loss) before reclassifications | $ 1,342 | $ (937) | $ 647 |
Amounts reclassified from accumulated OCI | (1,924) | 136 | (1,787) |
Other comprehensive income (loss) attributable to AT&T | (763) | (801) | (1,140) |
Accumulated Other Comprehensive Income | |||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |||
Accumulated other comprehensive income, beginning balance | 3,529 | 4,330 | 5,470 |
Other comprehensive income (loss) attributable to AT&T | (763) | (801) | (1,140) |
Accumulated other comprehensive income, ending balance | 2,766 | 3,529 | 4,330 |
Foreign Currency Translation Adjustment | |||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |||
Accumulated other comprehensive income, beginning balance | (1,964) | (3,926) | (3,056) |
Other comprehensive income (loss) before reclassifications | 346 | (125) | (870) |
Amounts reclassified from accumulated OCI | 0 | 2,087 | 0 |
Other comprehensive income (loss) attributable to AT&T | 164 | 1,962 | (870) |
Accumulated other comprehensive income, ending balance | (1,800) | (1,964) | (3,926) |
Net Unrealized Gains (Losses) on Available-for-Sale Securities | |||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |||
Accumulated other comprehensive income, beginning balance | 45 | 111 | 48 |
Other comprehensive income (loss) before reclassifications | (143) | (63) | 78 |
Amounts reclassified from accumulated OCI | 8 | (3) | (15) |
Other comprehensive income (loss) attributable to AT&T | (135) | (66) | 63 |
Accumulated other comprehensive income, ending balance | (90) | 45 | 111 |
Net Unrealized Gains (Losses) on Derivative Instruments | |||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |||
Accumulated other comprehensive income, beginning balance | (1,422) | (779) | (37) |
Other comprehensive income (loss) before reclassifications | (648) | (715) | (811) |
Amounts reclassified from accumulated OCI | 96 | 72 | 69 |
Other comprehensive income (loss) attributable to AT&T | (576) | (643) | (742) |
Accumulated other comprehensive income, ending balance | (1,998) | (1,422) | (779) |
Defined Benefit Postretirement Plans | |||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |||
Accumulated other comprehensive income, beginning balance | 6,870 | 8,924 | 8,515 |
Other comprehensive income (loss) before reclassifications | 1,787 | (34) | 2,250 |
Amounts reclassified from accumulated OCI | (2,028) | (2,020) | (1,841) |
Other comprehensive income (loss) attributable to AT&T | (216) | (2,054) | 409 |
Accumulated other comprehensive income, ending balance | 6,654 | $ 6,870 | $ 8,924 |
Reclassification out of Accumulated Other Comprehensive Income [Member] | |||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |||
Amounts reclassified from accumulated OCI | (181) | ||
Reclassification out of Accumulated Other Comprehensive Income [Member] | Foreign Currency Translation Adjustment | |||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |||
Amounts reclassified from accumulated OCI | (182) | ||
Reclassification out of Accumulated Other Comprehensive Income [Member] | Net Unrealized Gains (Losses) on Available-for-Sale Securities | |||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |||
Amounts reclassified from accumulated OCI | 0 | ||
Reclassification out of Accumulated Other Comprehensive Income [Member] | Net Unrealized Gains (Losses) on Derivative Instruments | |||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |||
Amounts reclassified from accumulated OCI | (24) | ||
Reclassification out of Accumulated Other Comprehensive Income [Member] | Defined Benefit Postretirement Plans | |||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |||
Amounts reclassified from accumulated OCI | $ 25 |
Segment Information (Summary Of
Segment Information (Summary Of Operating Revenues And Expenses By Segment) (Narrative) (Details) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 USD ($) segment | Dec. 31, 2021 USD ($) | Dec. 31, 2020 USD ($) | |
Segment Reporting Information [Line Items] | |||
Operations and Support Expenses | $ 107,307 | $ 90,289 | $ 112,155 |
Number of reportable segments | segment | 2 | ||
Corporate, non-segment [Member] | |||
Segment Reporting Information [Line Items] | |||
Operations and Support Expenses | $ 2,494 | 2,063 | 2,088 |
Corporate, non-segment [Member] | Revision of Prior Period, Reclassification, Adjustment [Member] | |||
Segment Reporting Information [Line Items] | |||
Operations and Support Expenses | $ 270 | $ 1,310 |
Segment Information (Summary _2
Segment Information (Summary Of Operating Revenues And Expenses By Segment) (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2022 | Sep. 30, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | Dec. 31, 2021 | Sep. 30, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Segment Reporting Information [Line Items] | |||||||||||
Revenues | $ 31,343 | $ 30,043 | $ 29,643 | $ 29,712 | $ 31,095 | $ 31,326 | $ 35,740 | $ 35,877 | $ 120,741 | $ 134,038 | $ 143,050 |
Operations and Support Expenses | 107,307 | 90,289 | 112,155 | ||||||||
EBITDA | 13,434 | 43,749 | 30,895 | ||||||||
Depreciation and Amortization | 18,021 | 17,852 | 22,523 | ||||||||
Operating Income (Loss) | $ (21,092) | $ 6,012 | $ 4,956 | $ 5,537 | $ 4,894 | $ 6,237 | $ 7,572 | $ 7,194 | (4,587) | 25,897 | 8,372 |
Operating Segments | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Revenues | 120,211 | 117,477 | 112,527 | ||||||||
Operations and Support Expenses | 74,091 | 72,580 | 67,323 | ||||||||
EBITDA | 46,120 | 44,897 | 45,204 | ||||||||
Depreciation and Amortization | 17,339 | 17,014 | 16,729 | ||||||||
Operating Income (Loss) | 28,781 | 27,883 | 28,475 | ||||||||
Total Corporate | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Revenues | 530 | 731 | 766 | ||||||||
Operations and Support Expenses | 2,494 | 2,063 | 2,088 | ||||||||
EBITDA | (1,964) | (1,332) | (1,322) | ||||||||
Depreciation and Amortization | 606 | 312 | 76 | ||||||||
Operating Income (Loss) | (2,570) | (1,644) | (1,398) | ||||||||
DTV -related retained costs | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Revenues | 8 | 49 | |||||||||
Operations and Support Expenses | 737 | 243 | |||||||||
EBITDA | (729) | (194) | |||||||||
Depreciation and Amortization | 549 | 236 | |||||||||
Operating Income (Loss) | (1,278) | (430) | |||||||||
Parent Administration Support | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Revenues | (32) | (18) | (62) | ||||||||
Operations and Support Expenses | 1,199 | 1,523 | 1,681 | ||||||||
EBITDA | (1,231) | (1,541) | (1,743) | ||||||||
Depreciation and Amortization | 16 | 36 | 12 | ||||||||
Operating Income (Loss) | (1,247) | (1,577) | (1,755) | ||||||||
Securitization Fees | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Revenues | 65 | 61 | 53 | ||||||||
Operations and Support Expenses | 419 | 89 | 72 | ||||||||
EBITDA | (354) | (28) | (19) | ||||||||
Depreciation and Amortization | 0 | 0 | 0 | ||||||||
Operating Income (Loss) | (354) | (28) | (19) | ||||||||
Value Portfolio | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Revenues | 489 | 639 | 775 | ||||||||
Operations and Support Expenses | 139 | 208 | 335 | ||||||||
EBITDA | 350 | 431 | 440 | ||||||||
Depreciation and Amortization | 41 | 40 | 64 | ||||||||
Operating Income (Loss) | 309 | 391 | 376 | ||||||||
Video | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Revenues | 15,513 | 28,610 | |||||||||
Operations and Support Expenses | 12,666 | 24,174 | |||||||||
EBITDA | 2,847 | 4,436 | |||||||||
Depreciation and Amortization | 356 | 2,262 | |||||||||
Operating Income (Loss) | 0 | 2,491 | 2,174 | ||||||||
Held-for-sale and other reclassifications | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Revenues | 453 | 1,414 | |||||||||
Operations and Support Expenses | 310 | 718 | |||||||||
EBITDA | 143 | 696 | |||||||||
Depreciation and Amortization | 0 | 15 | |||||||||
Operating Income (Loss) | 0 | 143 | 681 | ||||||||
Reclassification Of Prior Service Credits | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Revenues | 0 | 0 | 0 | ||||||||
Operations and Support Expenses | 2,691 | 2,680 | 2,442 | ||||||||
EBITDA | (2,691) | (2,680) | (2,442) | ||||||||
Depreciation and Amortization | 0 | 0 | 0 | ||||||||
Operating Income (Loss) | (2,691) | (2,680) | (2,442) | ||||||||
Certain significant items | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Revenues | 0 | 0 | 0 | ||||||||
Operations and Support Expenses | 28,031 | 126 | 15,677 | ||||||||
EBITDA | (28,031) | (126) | (15,677) | ||||||||
Depreciation and Amortization | 76 | 170 | 3,441 | ||||||||
Operating Income (Loss) | (28,107) | (296) | (19,118) | ||||||||
Eliminations and consolidations | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Revenues | 0 | (136) | (267) | ||||||||
Operations and Support Expenses | (136) | (267) | |||||||||
EBITDA | 0 | 0 | |||||||||
Depreciation and Amortization | 0 | 0 | |||||||||
Operating Income (Loss) | 0 | 0 | |||||||||
Total Corporate and Other | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Revenues | 530 | 16,561 | 30,523 | ||||||||
Operations and Support Expenses | 33,216 | 17,709 | 44,832 | ||||||||
EBITDA | (32,686) | (1,148) | (14,309) | ||||||||
Depreciation and Amortization | 682 | 838 | 5,794 | ||||||||
Operating Income (Loss) | (33,368) | (1,986) | (20,103) | ||||||||
Communications | Operating Segments | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Revenues | 117,067 | 114,730 | 109,965 | ||||||||
Operations and Support Expenses | 71,279 | 69,928 | 64,687 | ||||||||
EBITDA | 45,788 | 44,802 | 45,278 | ||||||||
Depreciation and Amortization | 16,681 | 16,409 | 16,216 | ||||||||
Operating Income (Loss) | 29,107 | 28,393 | 29,062 | ||||||||
Communications | Mobility | Operating Segments | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Revenues | 81,780 | 78,254 | 72,564 | ||||||||
Operations and Support Expenses | 49,054 | 46,762 | 41,677 | ||||||||
EBITDA | 32,726 | 31,492 | 30,887 | ||||||||
Depreciation and Amortization | 8,198 | 8,122 | 8,086 | ||||||||
Operating Income (Loss) | 24,528 | 23,370 | 22,801 | ||||||||
Communications | Business Wireline | Operating Segments | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Revenues | 22,538 | 23,937 | 25,083 | ||||||||
Operations and Support Expenses | 13,972 | 14,718 | 15,068 | ||||||||
EBITDA | 8,566 | 9,219 | 10,015 | ||||||||
Depreciation and Amortization | 5,314 | 5,192 | 5,216 | ||||||||
Operating Income (Loss) | 3,252 | 4,027 | 4,799 | ||||||||
Communications | Consumer Wireline | Operating Segments | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Revenues | 12,749 | 12,539 | 12,318 | ||||||||
Operations and Support Expenses | 8,253 | 8,448 | 7,942 | ||||||||
EBITDA | 4,496 | 4,091 | 4,376 | ||||||||
Depreciation and Amortization | 3,169 | 3,095 | 2,914 | ||||||||
Operating Income (Loss) | 1,327 | 996 | 1,462 | ||||||||
Latin America Business Segment | Operating Segments | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Revenues | 3,144 | 2,747 | 2,562 | ||||||||
Operations and Support Expenses | 2,812 | 2,652 | 2,636 | ||||||||
EBITDA | 332 | 95 | (74) | ||||||||
Depreciation and Amortization | 658 | 605 | 513 | ||||||||
Operating Income (Loss) | $ (326) | $ (510) | $ (587) |
Segment Information (Reconcilia
Segment Information (Reconciliation Of Operating Income (Loss) to Consolidated Statement Of Income) (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2022 | Sep. 30, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | Dec. 31, 2021 | Sep. 30, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | |||||||||||
Income (Loss) from Continuing Operations Before Income Taxes | $ (3,094) | $ 29,171 | $ (354) | ||||||||
AT&T Operating Income (Loss) | $ (21,092) | $ 6,012 | $ 4,956 | $ 5,537 | $ 4,894 | $ 6,237 | $ 7,572 | $ 7,194 | (4,587) | 25,897 | 8,372 |
Asset impairments and abandonments and restructuring | (27,498) | (213) | (15,687) | ||||||||
Interest Expense | 6,108 | 6,716 | 7,727 | ||||||||
Equity in net income of affiliates | 1,791 | 603 | 89 | ||||||||
Other income (expense) – net | 5,810 | 9,387 | (1,088) | ||||||||
Operating Segments | |||||||||||
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | |||||||||||
Income (Loss) from Continuing Operations Before Income Taxes | 28,781 | 27,883 | 28,475 | ||||||||
AT&T Operating Income (Loss) | 28,781 | 27,883 | 28,475 | ||||||||
Operating Segments | Communications | |||||||||||
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | |||||||||||
Income (Loss) from Continuing Operations Before Income Taxes | 29,107 | 28,393 | 29,062 | ||||||||
AT&T Operating Income (Loss) | 29,107 | 28,393 | 29,062 | ||||||||
Operating Segments | Latin America Business Segment | |||||||||||
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | |||||||||||
Income (Loss) from Continuing Operations Before Income Taxes | (326) | (510) | (587) | ||||||||
AT&T Operating Income (Loss) | (326) | (510) | (587) | ||||||||
Corporate | |||||||||||
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | |||||||||||
AT&T Operating Income (Loss) | (2,570) | (1,644) | (1,398) | ||||||||
Video | |||||||||||
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | |||||||||||
AT&T Operating Income (Loss) | 0 | 2,491 | 2,174 | ||||||||
Held-for-sale and other reclassifications | |||||||||||
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | |||||||||||
AT&T Operating Income (Loss) | 0 | 143 | 681 | ||||||||
Reconciling Items | |||||||||||
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | |||||||||||
Transaction and other costs | (425) | (41) | (1,064) | ||||||||
Amortization of intangibles acquired | (76) | (170) | (3,427) | ||||||||
Asset impairments and abandonments and restructuring | (27,498) | (213) | (15,687) | ||||||||
Gain on spectrum transaction | 0 | 0 | 900 | ||||||||
Benefit-related gains (losses) | (108) | 128 | 160 | ||||||||
Reclassification of prior service credits | $ (2,691) | $ (2,680) | $ (2,442) |
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 | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2022 | Sep. 30, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | Dec. 31, 2021 | Sep. 30, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Revenues from External Customers and Long-Lived Assets [Line Items] | |||||||||||
Revenues | $ 31,343 | $ 30,043 | $ 29,643 | $ 29,712 | $ 31,095 | $ 31,326 | $ 35,740 | $ 35,877 | $ 120,741 | $ 134,038 | $ 143,050 |
Net Property, Plant & Equipment | 127,445 | 121,649 | 127,445 | 121,649 | 121,104 | ||||||
United States | |||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||||||||||
Revenues | 116,006 | 129,157 | 138,188 | ||||||||
Net Property, Plant & Equipment | 123,305 | 117,690 | 123,305 | 117,690 | 116,926 | ||||||
Mexico | |||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||||||||||
Revenues | 3,210 | 2,824 | 2,651 | ||||||||
Net Property, Plant & Equipment | 3,718 | 3,460 | 3,718 | 3,460 | 3,528 | ||||||
Asia/Pacific Rim | |||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||||||||||
Revenues | 592 | 747 | 816 | ||||||||
Net Property, Plant & Equipment | 124 | 136 | 124 | 136 | 170 | ||||||
Europe | |||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||||||||||
Revenues | 584 | 907 | 1,022 | ||||||||
Net Property, Plant & Equipment | 201 | 249 | 201 | 249 | 347 | ||||||
Latin America | |||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||||||||||
Revenues | 217 | 251 | 212 | ||||||||
Net Property, Plant & Equipment | 74 | 82 | 74 | 82 | 94 | ||||||
Other | |||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||||||||||
Revenues | 132 | 152 | 161 | ||||||||
Net Property, Plant & Equipment | $ 23 | $ 32 | $ 23 | $ 32 | $ 39 |
Segment Information (Intersegme
Segment Information (Intersegment Assets, Equity Affiliates Investments and Capital Expenditures Details) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Segment Reporting Information [Line Items] | |||
Assets | $ 402,853 | $ 551,622 | |
Investments in Equity Method Investees | 3,533 | 6,168 | $ 742 |
Capital Expenditures | 19,626 | 15,545 | $ 14,690 |
Corporate and eliminations | |||
Segment Reporting Information [Line Items] | |||
Assets | (76,999) | 93,991 | |
Investments in Equity Method Investees | 3,533 | 6,168 | |
Capital Expenditures | 304 | 535 | |
Total Assets, discontinued operations | 119,776 | ||
Communications | Operating Segments | |||
Segment Reporting Information [Line Items] | |||
Assets | 471,444 | 448,757 | |
Investments in Equity Method Investees | 0 | 0 | |
Capital Expenditures | 18,962 | 14,691 | |
Latin America Business Segment | Operating Segments | |||
Segment Reporting Information [Line Items] | |||
Assets | 8,408 | 8,874 | |
Investments in Equity Method Investees | 0 | 0 | |
Capital Expenditures | $ 360 | $ 319 |
Revenue Recognition (Narrative)
Revenue Recognition (Narrative) (Details) - USD ($) $ / shares in Units, $ in Millions | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2022 | Sep. 30, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | Dec. 31, 2021 | Sep. 30, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Capitalized Contract Cost [Abstract] | |||||||||||
Diluted Earnings (Loss) Per Share from continuing operations | $ (3.20) | $ 0.79 | $ 0.59 | $ 0.65 | $ 0.66 | $ 0.63 | $ 0.76 | $ 0.97 | $ (1.10) | $ 3.02 | $ (0.45) |
Beginning of period contract liability recorded as customer contract revenue during period | $ 3,795 | ||||||||||
Customer Fulfillment Costs | Intangible Assets, Amortization Period | |||||||||||
Capitalized Contract Cost [Abstract] | |||||||||||
Cost of Revenue | $ 395 | ||||||||||
Diluted Earnings (Loss) Per Share from continuing operations | $ 0.04 | ||||||||||
Minimum | Deferred Acquisition Costs | |||||||||||
Capitalized Contract Cost [Abstract] | |||||||||||
Expected customer relationship life | 3 years | 3 years | |||||||||
Minimum | Deferred Fulfillment Costs | |||||||||||
Capitalized Contract Cost [Abstract] | |||||||||||
Expected customer relationship life | 3 years | 3 years | |||||||||
Maximum | Deferred Acquisition Costs | |||||||||||
Capitalized Contract Cost [Abstract] | |||||||||||
Expected customer relationship life | 5 years | 5 years | |||||||||
Maximum | Deferred Fulfillment Costs | |||||||||||
Capitalized Contract Cost [Abstract] | |||||||||||
Expected customer relationship life | 5 years | 5 years |
Revenue Recognition (Revenue Ca
Revenue Recognition (Revenue Categories) (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2022 | Sep. 30, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | Dec. 31, 2021 | Sep. 30, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Disaggregation of Revenue [Line Items] | |||||||||||
Total operating revenues | $ 31,343 | $ 30,043 | $ 29,643 | $ 29,712 | $ 31,095 | $ 31,326 | $ 35,740 | $ 35,877 | $ 120,741 | $ 134,038 | $ 143,050 |
Service [Member] | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Total operating revenues | 97,831 | 111,565 | 124,057 | ||||||||
Wireless Service [Member] | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Total operating revenues | 62,674 | 59,498 | 57,726 | ||||||||
Video Service | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Total operating revenues | 15,423 | 28,465 | |||||||||
Business Service | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Total operating revenues | 21,891 | 23,294 | 24,627 | ||||||||
IP Broadband | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Total operating revenues | 9,669 | 9,085 | 8,534 | ||||||||
Legacy Voice and Data [Member] | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Total operating revenues | 2,069 | 2,406 | 2,767 | ||||||||
Other Service [Member] | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Total operating revenues | 1,528 | 1,859 | 1,938 | ||||||||
Other Capitalized Property Plant and Equipment [Member] | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Total operating revenues | 22,910 | 22,473 | 18,993 | ||||||||
Operating Segments | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Total operating revenues | 120,211 | 117,477 | 112,527 | ||||||||
Operating Segments | Communications | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Total operating revenues | 117,067 | 114,730 | 109,965 | ||||||||
Operating Segments | Communications | Mobility | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Total operating revenues | 81,780 | 78,254 | 72,564 | ||||||||
Operating Segments | Communications | Mobility | Service [Member] | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Total operating revenues | 60,499 | 57,590 | 55,542 | ||||||||
Operating Segments | Communications | Mobility | Wireless Service [Member] | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Total operating revenues | 60,499 | 57,590 | 55,542 | ||||||||
Operating Segments | Communications | Mobility | Video Service | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Total operating revenues | 0 | 0 | |||||||||
Operating Segments | Communications | Mobility | Business Service | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Total operating revenues | 0 | 0 | 0 | ||||||||
Operating Segments | Communications | Mobility | IP Broadband | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Total operating revenues | 0 | 0 | 0 | ||||||||
Operating Segments | Communications | Mobility | Legacy Voice and Data [Member] | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Total operating revenues | 0 | 0 | 0 | ||||||||
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 | 21,281 | 20,664 | 17,022 | ||||||||
Operating Segments | Communications | Business Wireline | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Total operating revenues | 22,538 | 23,937 | 25,083 | ||||||||
Operating Segments | Communications | Business Wireline | Service [Member] | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Total operating revenues | 21,891 | 23,224 | 24,313 | ||||||||
Operating Segments | Communications | Business Wireline | Wireless Service [Member] | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Total operating revenues | 0 | 0 | 0 | ||||||||
Operating Segments | Communications | Business Wireline | Video Service | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Total operating revenues | 0 | 0 | |||||||||
Operating Segments | Communications | Business Wireline | Business Service | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Total operating revenues | 21,891 | 23,224 | 24,313 | ||||||||
Operating Segments | Communications | Business Wireline | IP Broadband | |||||||||||
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 | 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 | 647 | 713 | 770 | ||||||||
Operating Segments | Communications | Consumer Wireline | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Total operating revenues | 12,749 | 12,539 | 12,318 | ||||||||
Operating Segments | Communications | Consumer Wireline | Service [Member] | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Total operating revenues | 12,749 | 12,446 | 12,311 | ||||||||
Operating Segments | Communications | Consumer Wireline | Wireless Service [Member] | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Total operating revenues | 0 | 0 | 0 | ||||||||
Operating Segments | Communications | Consumer Wireline | Video Service | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Total operating revenues | 0 | 0 | |||||||||
Operating Segments | Communications | Consumer Wireline | Business Service | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Total operating revenues | 0 | 0 | 0 | ||||||||
Operating Segments | Communications | Consumer Wireline | IP Broadband | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Total operating revenues | 9,669 | 9,085 | 8,534 | ||||||||
Operating Segments | Communications | Consumer Wireline | Legacy Voice and Data [Member] | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Total operating revenues | 1,746 | 1,977 | 2,213 | ||||||||
Operating Segments | Communications | Consumer Wireline | Other Service [Member] | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Total operating revenues | 1,334 | 1,384 | 1,564 | ||||||||
Operating Segments | Communications | Consumer Wireline | Other Capitalized Property Plant and Equipment [Member] | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Total operating revenues | 0 | 93 | 7 | ||||||||
Operating Segments | Latin America Business Segment | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Total operating revenues | 3,144 | 2,747 | 2,562 | ||||||||
Operating Segments | Latin America Business Segment | Service [Member] | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Total operating revenues | 2,162 | 1,834 | 1,656 | ||||||||
Operating Segments | Latin America Business Segment | Wireless Service [Member] | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Total operating revenues | 2,162 | 1,834 | 1,656 | ||||||||
Operating Segments | Latin America Business Segment | Video Service | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Total operating revenues | 0 | 0 | |||||||||
Operating Segments | Latin America Business Segment | Business Service | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Total operating revenues | 0 | 0 | 0 | ||||||||
Operating Segments | Latin America Business Segment | IP Broadband | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Total operating revenues | 0 | 0 | 0 | ||||||||
Operating Segments | Latin America Business Segment | Legacy Voice and Data [Member] | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Total operating revenues | 0 | 0 | 0 | ||||||||
Operating Segments | Latin America Business Segment | Other Service [Member] | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Total operating revenues | 0 | 0 | 0 | ||||||||
Operating Segments | Latin America Business Segment | Other Capitalized Property Plant and Equipment [Member] | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Total operating revenues | 982 | 913 | 906 | ||||||||
Corporate | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Total operating revenues | 530 | 16,697 | 30,790 | ||||||||
Corporate | Service [Member] | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Total operating revenues | 530 | 16,607 | 30,502 | ||||||||
Corporate | Wireless Service [Member] | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Total operating revenues | 13 | 74 | 528 | ||||||||
Corporate | Video Service | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Total operating revenues | 15,423 | 28,465 | |||||||||
Corporate | Business Service | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Total operating revenues | 0 | 70 | 314 | ||||||||
Corporate | IP Broadband | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Total operating revenues | 0 | 0 | 0 | ||||||||
Corporate | Legacy Voice and Data [Member] | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Total operating revenues | 323 | 429 | 554 | ||||||||
Corporate | Other Service [Member] | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Total operating revenues | 194 | 611 | 641 | ||||||||
Corporate | Other Capitalized Property Plant and Equipment [Member] | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Total operating revenues | 0 | 90 | 288 | ||||||||
Eliminations and consolidations | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Total operating revenues | 0 | (136) | (267) | ||||||||
Eliminations and consolidations | Service [Member] | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Total operating revenues | 0 | (136) | (267) | ||||||||
Eliminations and consolidations | Wireless Service [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 | |||||||||
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 | Legacy Voice and Data [Member] | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Total operating revenues | 0 | 0 | 0 | ||||||||
Eliminations and consolidations | Other Service [Member] | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Total operating revenues | 0 | (136) | (267) | ||||||||
Eliminations and consolidations | Other Capitalized Property Plant and Equipment [Member] | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Total operating revenues | $ 0 | $ 0 | $ 0 |
Revenue Recognition (Deferred C
Revenue Recognition (Deferred Contract Acquisition and Fulfillment Costs) (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Deferred Acquisition Costs | ||
Capitalized Contract Cost, Net [Abstract] | ||
Total deferred costs | $ 6,806 | $ 5,798 |
Deferred cost amortization | 2,935 | 2,965 |
Deferred Acquisition Costs | Prepaid and other current assets | ||
Capitalized Contract Cost, Net [Abstract] | ||
Total deferred costs | 2,893 | 2,551 |
Deferred Acquisition Costs | Other Assets | ||
Capitalized Contract Cost, Net [Abstract] | ||
Total deferred costs | 3,913 | 3,247 |
Deferred Acquisition Costs | Video Business Unit | ||
Capitalized Contract Cost, Net [Abstract] | ||
Deferred cost amortization | 409 | |
Deferred Fulfillment Costs | ||
Capitalized Contract Cost, Net [Abstract] | ||
Total deferred costs | 6,687 | 6,748 |
Deferred cost amortization | 2,688 | 4,014 |
Deferred Fulfillment Costs | Prepaid and other current assets | ||
Capitalized Contract Cost, Net [Abstract] | ||
Total deferred costs | 2,481 | 2,600 |
Deferred Fulfillment Costs | Other Assets | ||
Capitalized Contract Cost, Net [Abstract] | ||
Total deferred costs | $ 4,206 | 4,148 |
Deferred Fulfillment Costs | Video Business Unit | ||
Capitalized Contract Cost, Net [Abstract] | ||
Deferred cost amortization | $ 1,162 |
Revenue Recognition (Contract A
Revenue Recognition (Contract Assets and Liabilities) (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Capitalized Contract Cost [Line Items] | ||
Contract asset | $ 5,512 | $ 4,389 |
Current portion in “Prepaid and other current assets” | 4,170 | 4,133 |
Prepaid Expenses and Other Current Assets | ||
Capitalized Contract Cost [Line Items] | ||
Contract asset balance - current portion | 2,941 | 2,582 |
Other Current Liabilities | ||
Capitalized Contract Cost [Line Items] | ||
Contract liability balance - current portion | $ 3,816 | $ 3,776 |
Revenue Recognition (Remaining
Revenue Recognition (Remaining Performance Obligations) (Details) $ in Millions | Dec. 31, 2022 USD ($) |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Aggregate amount of the transaction price allocated to remaining performance obligations | $ 35,800 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Aggregate amount of the transaction price allocated to remaining performance obligations (percentage) | 76% |
Expected timing of satisfaction for remaining performance obligations, period | 24 months |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Aggregate amount of the transaction price allocated to remaining performance obligations (percentage) | 24% |
Expected timing of satisfaction for remaining performance obligations, period |
Acquisitions, Dispositions An_3
Acquisitions, Dispositions And Other Adjustments (Schedule of Assets & Liabilities Held-For-Sale) (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 | Jul. 31, 2021 |
Disposal Group, Including Discontinued Operation, Assets [Abstract] | |||
Current assets | $ 0 | $ 119,776 | |
Disposal Group, Including Discontinued Operation, Liabilities [Abstract] | |||
Current liabilities | $ 0 | $ 33,555 | |
Business Unit Held-for-Sale | Video Business Unit | |||
Disposal Group, Including Discontinued Operation, Assets [Abstract] | |||
Current assets | $ 4,893 | ||
Property, plant and equipment – net | 2,673 | ||
Other assets | 1,787 | ||
Total Assets, discontinued operations | 16,785 | ||
Disposal Group, Including Discontinued Operation, Liabilities [Abstract] | |||
Current liabilities | 4,267 | ||
Long-term debt | 206 | ||
Other noncurrent liabilities | 343 | ||
Total Liabilities, discontinued operations | 4,816 | ||
Business Unit Held-for-Sale | Licenses | Video Business Unit | |||
Disposal Group, Including Discontinued Operation, Assets [Abstract] | |||
Intangible assets - net | 5,798 | ||
Business Unit Held-for-Sale | Other Intangible Assets | Video Business Unit | |||
Disposal Group, Including Discontinued Operation, Assets [Abstract] | |||
Intangible assets - net | $ 1,634 |
Acquisitions, Dispositions An_4
Acquisitions, Dispositions And Other Adjustments (Spectrum Auctions Narrative) (Details) $ in Millions | 1 Months Ended | 3 Months Ended | 6 Months Ended | 12 Months Ended | |||||||||||
Jan. 14, 2022 license | Dec. 31, 2021 USD ($) | Feb. 28, 2021 license | Sep. 30, 2022 USD ($) | Mar. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | Sep. 30, 2021 USD ($) | Mar. 31, 2021 USD ($) | Jun. 30, 2020 USD ($) | Mar. 31, 2020 USD ($) | Jun. 30, 2020 USD ($) | Dec. 31, 2023 USD ($) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | Dec. 31, 2020 USD ($) | |
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 | ||||||||||||||
Value of consideration received in a noncash transaction | 2,379 | ||||||||||||||
3.45 GHz Licenses | |||||||||||||||
Indefinite-lived Intangible Assets [Line Items] | |||||||||||||||
Winning bidder, number of licenses | license | 1,624 | ||||||||||||||
Payments to acquire intangible assets | $ 8,956 | $ 123 | $ 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 | $ 1,100 | ||||||||||||||
Intangible Asset Acquisition, Satellite Relocation Cost | $ 98 | $ 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_5
Acquisitions, Dispositions And Other Adjustments (Dispositions Narrative) (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | ||||||||||||
Apr. 08, 2022 | Sep. 20, 2021 | Jul. 31, 2021 | Nov. 06, 2020 | Oct. 31, 2020 | Oct. 13, 2020 | Sep. 30, 2022 | Jun. 30, 2022 | Sep. 30, 2021 | Jun. 30, 2021 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Nov. 15, 2021 | |
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 | $ 2,665 | $ 0 | $ 1,950 | |||||||||||
Retained (Deficit) Earnings | ||||||||||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||||||||||||
Distribution of WarnerMedia | $ 45,041 | (45,041) | 0 | 0 | ||||||||||
Additional Paid-In Capital | ||||||||||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||||||||||||
Distribution of WarnerMedia | (6,832) | 0 | $ 0 | |||||||||||
Changes related to acquisitions of interest held by noncontrolling owners | $ 5,632 | |||||||||||||
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% | 70% | ||||||||||||
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% | 30% | ||||||||||||
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 | $ 702 | |||||||||||||
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% | |||||||||||||
WarnerMedia | Additional Paid-In Capital | ||||||||||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||||||||||||
Distribution of WarnerMedia | $ 1,200 | |||||||||||||
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 | |||||||||||||
Notes Receivable Payment Period | 4 years | |||||||||||||
Financial Receivable | $ 300 | |||||||||||||
Asset Impairment Charges | $ 80 | |||||||||||||
Historical currency translation adjustments | 2,100 | |||||||||||||
Property, plant and equipment and intangible assets | 2,500 | |||||||||||||
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 | $ 4,555 | |||||||||||||
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] | ||||||||||||||
Consideration received at closing | $ 1,950 | |||||||||||||
Gain (Loss) on Disposition of Business | (82) | |||||||||||||
Payments to redeem cumulative preferred interest in subsidiary that held notes secured by proceeds of sale | $ 1,950 | $ 1,950 | ||||||||||||
Spinoff | WarnerMedia | ||||||||||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||||||||||||
Amount of transferred debt | $ 1,600 | |||||||||||||
Discontinued Operations | ||||||||||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||||||||||||
Total Assets, discontinued operations | $ 119,776 | |||||||||||||
Liabilities | 33,555 | |||||||||||||
Discontinued Operations | Vrio | ||||||||||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||||||||||||
Asset Impairment Charges | 4,555 | |||||||||||||
Discontinued Operations | WarnerMedia | ||||||||||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||||||||||||
Consideration received at closing | 40,400 | |||||||||||||
Cash proceeds received at closing | 38,800 | |||||||||||||
Amount of transferred debt | $ 1,600 | |||||||||||||
Type of Consideration Received | Each AT&T shareholder was entitled to receive 0.241917 shares of WBD common stock for each share of AT&T common stock held as of the record date | |||||||||||||
Total Assets, discontinued operations | $ 121,100 | |||||||||||||
Liabilities | $ 70,600 | |||||||||||||
Discontinued Operations | WarnerMedia | Warner Bros. Discovery | ||||||||||||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||||||||||||
Ownership percentage by parent | 71% | |||||||||||||
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] | ||||||||||||||
Total Assets, discontinued operations | 851 | |||||||||||||
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 |
Property, Plant And Equipment_2
Property, Plant And Equipment (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, at cost | $ 329,630 | $ 324,613 | |
Accumulated depreciation and amortization | 202,185 | 202,964 | |
Property, plant and equipment – net | 127,445 | 121,649 | $ 121,104 |
Land | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, at cost | 1,381 | 1,401 | |
Buildings and improvements | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, at cost | $ 38,751 | 38,204 | |
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 | $ 98,468 | 97,070 | |
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 | $ 84,447 | 79,961 | |
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 | 103 | |
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 | $ 81,658 | 85,929 | |
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 | $ 17,640 | 16,520 | |
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 | $ 7,182 | $ 5,425 |
Property, Plant And Equipment_3
Property, Plant And Equipment (Narrative) (Details) - USD ($) $ / shares in Units, $ in Millions | 1 Months Ended | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Property, Plant and Equipment [Line Items] | ||||
Depreciation expense | $ (17,852) | $ (17,634) | $ (19,028) | |
Diluted earnings per share (in dollars per share) | $ (1.13) | $ 2.73 | $ (0.75) | |
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 | $ 1,413 | |||
Software | ||||
Property, Plant and Equipment [Line Items] | ||||
Depreciation expense | (2,972) | $ (2,909) | $ (3,343) | |
Service Life [Member] | Fiber | ||||
Property, Plant and Equipment [Line Items] | ||||
Depreciation expense | $ 280 | |||
Diluted earnings per share (in dollars per share) | $ 0.03 |
Leases (Narrative) (Details)
Leases (Narrative) (Details) - Maximum | Dec. 31, 2022 |
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, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Leases [Abstract] | |||
Operating lease cost | $ 5,437 | $ 5,363 | $ 5,331 |
Finance lease cost: | |||
Amortization of right-of-use assets | 204 | 179 | 185 |
Interest on lease obligation | 159 | 145 | 133 |
Total finance lease cost | $ 363 | $ 324 | $ 318 |
Leases (Supplemental Cash Flow
Leases (Supplemental Cash Flow Information Related to Leases) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Cash Flows from Operating Activities | |||
Operating cash flows from operating leases | $ 4,679 | $ 4,580 | $ 4,496 |
Supplemental Lease Cash Flow Disclosures | |||
Operating lease right-of-use assets obtained in exchange for new operating lease obligations | $ 3,751 | $ 3,396 | $ 4,057 |
Leases (Supplemental Balance Sh
Leases (Supplemental Balance Sheet Information Related to Leases) (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Operating Leases | ||
Operating lease right-of-use assets | $ 21,814 | $ 21,824 |
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 | $ 3,547 | $ 3,393 |
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration] | Operating lease obligation | Operating lease obligation |
Operating lease obligation | $ 18,659 | $ 18,956 |
Total operating lease obligation | 22,206 | 22,349 |
Finance Leases | ||
Property, plant and equipment, at cost | 2,770 | 2,494 |
Accumulated depreciation and amortization | (1,224) | (1,053) |
Property, plant and equipment – net | $ 1,546 | $ 1,441 |
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 | $ 170 | $ 127 |
Finance Lease, Liability, Current, Statement of Financial Position [Extensible List] | Debt maturing within one year | Debt maturing within one year |
Long-term debt | $ 1,647 | $ 1,442 |
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List] | Long-Term Debt | Long-Term Debt |
Total finance lease obligation | $ 1,817 | $ 1,569 |
Weighted-Average Remaining Lease Term (years), Operating leases | 8 years 1 month 6 days | 8 years 2 months 12 days |
Weighted-Average Remaining Lease Term (years), Finance leases | 7 years 10 months 24 days | 8 years 10 months 24 days |
Weighted-Average Discount Rate, Operating leases | 3.70% | 3.70% |
Weighted-Average Discount Rate, Finance leases | 8% | 8.20% |
Leases (Future Minimum Maturiti
Leases (Future Minimum Maturities of Lease Liabilities) (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Operating Leases | ||
2023 | $ 4,657 | |
2024 | 4,203 | |
2025 | 3,543 | |
2026 | 2,830 | |
2027 | 2,302 | |
Thereafter | 8,933 | |
Total lease payments | 26,468 | |
Less: imputed interest | (4,262) | |
Total | 22,206 | $ 22,349 |
Finance Leases | ||
2023 | 315 | |
2024 | 306 | |
2025 | 315 | |
2026 | 291 | |
2027 | 290 | |
Thereafter | 1,032 | |
Total lease payments | 2,549 | |
Less: imputed interest | (732) | |
Total | $ 1,817 | $ 1,569 |
Goodwill And Other Intangible_3
Goodwill And Other Intangible Assets (Summary Of Changes In Carrying Amount Of Goodwill, By Segment) (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Goodwill [Roll Forward] | ||
Beginning balance - Net goodwill | $ 92,740 | $ 92,812 |
Goodwill, Impairment Loss | (24,812) | |
Dispositions, currency exchange and other | (33) | (72) |
Ending balance - Net goodwill | 67,895 | 92,740 |
Communications | ||
Goodwill [Roll Forward] | ||
Beginning Balance - Goodwill | 91,924 | 91,976 |
Beginning Balance - Impairments | 0 | 0 |
Beginning balance - Net goodwill | 91,924 | 91,976 |
Goodwill, Impairment Loss | (23,986) | |
Dispositions, currency exchange and other | (43) | (52) |
Ending Balance - Goodwill | 91,881 | 91,924 |
Ending Balance - Impairments | (23,986) | 0 |
Ending balance - Net goodwill | 67,895 | 91,924 |
Latin America Business Segment | ||
Goodwill [Roll Forward] | ||
Goodwill, Impairment Loss | (826) | |
Latin America Business Segment | Latin America | ||
Goodwill [Roll Forward] | ||
Beginning Balance - Goodwill | 816 | 836 |
Goodwill, Impairment Loss | (826) | |
Dispositions, currency exchange and other | 10 | (20) |
Ending Balance - Goodwill | 0 | 816 |
Goodwill | Communications | ||
Goodwill [Roll Forward] | ||
Goodwill, Impairment Loss | (23,986) | |
Dispositions, currency exchange and other | $ (43) | $ (52) |
Goodwill And Other Intangible_4
Goodwill And Other Intangible Assets (Schedule Of Amortized Intangible Assets) (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Finite-Lived Intangible Assets [Line Items] | ||
Weighted-Average Life | 21 years 1 month 6 days | |
Gross Carrying Amount | $ 3,788 | $ 4,036 |
Accumulated Amortization | 974 | 1,005 |
Currency Translation Adjustment | $ (378) | (545) |
Wireless Licenses | ||
Finite-Lived Intangible Assets [Line Items] | ||
Weighted-Average Life | 21 years 7 months 6 days | |
Gross Carrying Amount | $ 3,045 | 3,083 |
Accumulated Amortization | 425 | 307 |
Currency Translation Adjustment | $ (297) | (440) |
Trademarks and trade names | ||
Finite-Lived Intangible Assets [Line Items] | ||
Weighted-Average Life | 15 years | |
Gross Carrying Amount | $ 26 | 27 |
Accumulated Amortization | 11 | 11 |
Currency Translation Adjustment | $ (6) | (7) |
Customer lists and relationships | ||
Finite-Lived Intangible Assets [Line Items] | ||
Weighted-Average Life | 12 years 7 months 6 days | |
Gross Carrying Amount | $ 413 | 577 |
Accumulated Amortization | 304 | 429 |
Currency Translation Adjustment | $ (75) | (98) |
Other | ||
Finite-Lived Intangible Assets [Line Items] | ||
Weighted-Average Life | 8 years 6 months | |
Gross Carrying Amount | $ 304 | 349 |
Accumulated Amortization | 234 | 258 |
Currency Translation Adjustment | $ 0 | $ 0 |
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, 2022 | Dec. 31, 2021 |
Indefinite-lived Intangible Assets [Line Items] | ||
Total | $ 127,010 | $ 116,735 |
Wireless Licenses | ||
Indefinite-lived Intangible Assets [Line Items] | ||
Total | 121,769 | 111,494 |
Trade names | ||
Indefinite-lived Intangible Assets [Line Items] | ||
Total | $ 5,241 | $ 5,241 |
Goodwill And Other Intangible_6
Goodwill And Other Intangible Assets (Narrative) (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Finite-Lived Intangible Assets [Line Items] | ||
Goodwill impairment | $ 24,812 | |
Communications | ||
Finite-Lived Intangible Assets [Line Items] | ||
Goodwill impairment | 23,986 | |
Communications | Business Wireline | ||
Finite-Lived Intangible Assets [Line Items] | ||
Goodwill impairment | 13,478 | |
Communications | Consumer Wireline | ||
Finite-Lived Intangible Assets [Line Items] | ||
Goodwill impairment | 10,508 | |
Latin America Business Segment | ||
Finite-Lived Intangible Assets [Line Items] | ||
Goodwill impairment | 826 | |
Projected Weighted Average Cost Of Capital Increased By 25 Basis Points [Member] | Communications | ||
Finite-Lived Intangible Assets [Line Items] | ||
Goodwill impairment | 3,400 | |
Projected Terminal Growth Rate Declined By 25 Basis Points [Member] | Communications | ||
Finite-Lived Intangible Assets [Line Items] | ||
Goodwill impairment | 2,100 | |
Long-Term EBITDA Margin Declined 100 Basis Points [Member] | Communications | ||
Finite-Lived Intangible Assets [Line Items] | ||
Goodwill impairment | $ 2,800 | |
Orbital Slots | Video Business Unit | ||
Finite-Lived Intangible Assets [Line Items] | ||
Intangible assets disposed | $ 5,798 | |
Customer lists and relationships | Video Business Unit | ||
Finite-Lived Intangible Assets [Line Items] | ||
Intangible assets disposed | $ 1,585 |
Goodwill and Other Intangible_7
Goodwill and Other Intangible Assets (Schedule of Amortized Intangible Expenses) (Narrative) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Finite-Lived Intangible Assets, Amortization Expense, Maturity Schedule [Abstract] | |||
Amortization Expense | $ 169 | $ 218 | $ 3,495 |
Estimated amortization expense in 2023 | 161 | ||
Estimated amortization expense in 2024 | 154 | ||
Estimated amortization expense in 2025 | 142 | ||
Estimated amortization expense in 2026 | 142 | ||
Estimated amortization expense in 2027 | $ 142 |
Equity Method Investments (Narr
Equity Method Investments (Narrative) (Details) - USD ($) $ in Millions | 12 Months Ended | ||||
Jul. 31, 2021 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Sep. 30, 2021 | |
Schedule of Equity Method Investments [Line Items] | |||||
Equity in net income of affiliates | $ 1,791 | $ 603 | $ 89 | ||
Distributions from equity method investment | 1,815 | 701 | |||
Investments in Equity Method Investees | $ 3,533 | 6,168 | $ 742 | ||
SKY Mexico | Equity Method Investments | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Economic interest in common units | 41.30% | ||||
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 | |||
Economic interest in common units held after disposal of business unit | 70% | 70% | |||
Distributions from equity method investment | $ 2,649 | 1,323 | |||
Investments in Equity Method Investees | 2,911 | ||||
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 | 1,808 | 619 | |||
Distributions from equity method investment | 4,457 | 1,942 | |||
Investments in Equity Method Investees | 2,911 | 5,539 | |||
DIRECTV | Junior Preferred Interests | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Preferred interest in newly formed company | $ 4,250 | 4,250 | |||
Interest in newly formed company, additional distribution preference | $ 702 | ||||
DIRECTV | TPG Capital | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Economic interest in common units | 30% | 30% | |||
DIRECTV | TPG Capital | Senior Preferred Interests | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Preferred interest in newly formed company | $ 1,800 | 1,800 | |||
Distributions from equity method investment | $ 1,800 |
Equity Method Investments (Summ
Equity Method Investments (Summarized Financial Information For DIRECTV and Our Other Equity Method Investments) (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2022 | Sep. 30, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | Dec. 31, 2021 | Sep. 30, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Income Statement [Abstract] | |||||||||||
Operating revenues | $ 31,343 | $ 30,043 | $ 29,643 | $ 29,712 | $ 31,095 | $ 31,326 | $ 35,740 | $ 35,877 | $ 120,741 | $ 134,038 | $ 143,050 |
Net income (loss) | (7,055) | 21,479 | (3,821) | ||||||||
Assets | |||||||||||
Assets, Current | 33,108 | 170,768 | 33,108 | 170,768 | |||||||
Liabilities and Stockholders’ Equity | |||||||||||
Liabilities, Current | 56,173 | 106,230 | 56,173 | 106,230 | |||||||
Equity Method Investment, Nonconsolidated Investee or Group of Investees [Member] | |||||||||||
Income Statement [Abstract] | |||||||||||
Operating revenues | 25,794 | 12,220 | 1,282 | ||||||||
Operations income | 3,175 | 1,179 | 157 | ||||||||
Net income (loss) | 2,581 | 938 | $ 91 | ||||||||
Assets | |||||||||||
Assets, Current | 4,240 | 5,295 | 4,240 | 5,295 | |||||||
Assets, Noncurrent | 14,211 | 17,022 | 14,211 | 17,022 | |||||||
Liabilities and Stockholders’ Equity | |||||||||||
Liabilities, Current | 6,681 | 7,191 | 6,681 | 7,191 | |||||||
Liabilities, Noncurrent | $ 7,951 | $ 8,614 | $ 7,951 | $ 8,614 |
Equity Method Investments (Reco
Equity Method Investments (Reconciliation Of Investments In Equity Affiliates) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Equity Method Investments [Roll Forward] | |||
Beginning of year | $ 6,168 | $ 742 | |
Additional investments | 3 | 0 | |
Equity in net income of affiliates | 1,791 | 603 | $ 89 |
Dividends and distributions of cumulative earnings received | (1,815) | (701) | |
Currency translation adjustments | 25 | (14) | |
Other adjustments | 10 | 15 | |
End of year | 3,533 | 6,168 | $ 742 |
DIRECTV | |||
Equity Method Investments [Roll Forward] | |||
Receipt or Acquisition of Equity Interest | 0 | (6,852) | |
Dividends and distributions of cumulative earnings received | (2,649) | (1,323) | |
End of year | 2,911 | ||
Other Capital Distributions | |||
Equity Method Investments [Roll Forward] | |||
Dividends and distributions of cumulative earnings received | $ 0 | $ (6) |
Debt (Summary Of Long-Term Debt
Debt (Summary Of Long-Term Debt Of AT&T And Its Subsidiaries) (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Debt Instrument [Line Items] | ||
Carrying amount of notes and debentures | $ 143,284 | $ 177,742 |
Unamortized (discount) premium – net | (9,650) | (9,758) |
Unamortized issuance costs | (427) | (508) |
Total notes and debentures | 133,207 | 167,476 |
Finance lease obligations | 1,817 | 1,569 |
Total long-term debt, including current maturities | 135,024 | 169,045 |
Current maturities of long-term debt | (6,601) | (7,934) |
Current maturities of credit agreement borrowings | 0 | (10,100) |
Total long-term debt | 128,423 | 151,011 |
Credit agreement borrowings | ||
Debt Instrument [Line Items] | ||
Carrying amount of notes and debentures | 2,500 | 10,400 |
Fair value of interest rate swaps recorded in debt | ||
Debt Instrument [Line Items] | ||
Carrying amount of notes and debentures | 13 | 16 |
Notes And Debentures Maturing 2021-2039 | Notes and debentures | ||
Debt Instrument [Line Items] | ||
Carrying amount of notes and debentures | $ 24,603 | 31,612 |
Notes And Debentures Maturing 2021-2039 | Notes and debentures | Minimum | ||
Debt Instrument [Line Items] | ||
Debt instrument - stated percentage rate | 0% | |
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 | $ 91,201 | 107,635 |
Notes And Debentures Maturing 2021-2061 | Notes and debentures | Minimum | ||
Debt Instrument [Line Items] | ||
Debt instrument - stated percentage rate | 3% | |
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 | $ 20,083 | 23,023 |
Notes And Debentures Maturing 2021-2095 | Notes and debentures | Minimum | ||
Debt Instrument [Line Items] | ||
Debt instrument - stated percentage rate | 5% | |
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 | $ 4,884 | $ 5,056 |
Notes And Debentures Maturing 2021-2097 | Notes and debentures | Minimum | ||
Debt Instrument [Line Items] | ||
Debt instrument - stated percentage rate | 7% | |
Notes And Debentures Maturing 2021-2097 | Notes and debentures | Maximum | ||
Debt Instrument [Line Items] | ||
Debt instrument - stated percentage rate | 12% |
Debt (Debt Maturing Within One
Debt (Debt Maturing Within One Year) (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Debt Disclosure [Abstract] | ||
Current maturities of long-term debt | $ 6,601 | $ 7,934 |
Commercial paper | 866 | 6,586 |
Bank borrowings | 0 | 10,100 |
Total | $ 7,467 | $ 24,620 |
Debt (Schedule of Debt Activity
Debt (Schedule of Debt Activity) (Details) - USD ($) $ in Millions | 1 Months Ended | 3 Months Ended | 12 Months Ended | ||||||
May 31, 2022 | Dec. 31, 2022 | Sep. 30, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Apr. 11, 2022 | |
Issuance of Notes and Debentures: | |||||||||
Net commercial paper borrowings | $ (1,337) | $ (724) | $ (5,219) | $ 1,471 | $ (5,809) | ||||
Proceeds from Other Short-Term Debt | 3,955 | $ 21,856 | $ 9,440 | ||||||
Proceeds from Issuance of Long-Term Debt | 2,979 | 9,931 | 31,988 | ||||||
Debt Issuances | 2,500 | 750 | 0 | 479 | 3,729 | ||||
Repayments of Short-Term Debt | (750) | 0 | (9,100) | 0 | (9,850) | ||||
Repayment of long-term debt | 706 | 199 | 23,423 | 790 | 25,118 | 3,039 | 39,062 | ||
Interest | 7,772 | $ 7,485 | $ 8,010 | ||||||
USD notes | |||||||||
Issuance of Notes and Debentures: | |||||||||
Repayment of long-term debt | 287 | 0 | 18,957 | 123 | 19,367 | ||||
Euro notes | |||||||||
Issuance of Notes and Debentures: | |||||||||
Repayment of long-term debt | 0 | 0 | 3,343 | 0 | 3,343 | ||||
BAML Bilateral Term Loan – Tranche B | |||||||||
Issuance of Notes and Debentures: | |||||||||
Repayment of long-term debt | 0 | 0 | 1,000 | 0 | 1,000 | ||||
2025 Term Loan | |||||||||
Issuance of Notes and Debentures: | |||||||||
Proceeds from Issuance of Long-Term Debt | 2,500 | 0 | 0 | 0 | 2,500 | ||||
Zero Coupon Note [Member] | |||||||||
Issuance of Notes and Debentures: | |||||||||
Repayment of long-term debt | 287 | ||||||||
Aggregate principal amount of debt | 592 | 592 | |||||||
Interest | 305 | ||||||||
Other | |||||||||
Issuance of Notes and Debentures: | |||||||||
Proceeds from Issuance of Long-Term Debt | 0 | 0 | 0 | 479 | 479 | ||||
Repayment of long-term debt | 419 | 199 | 123 | 667 | 1,408 | ||||
2021 Syndicated Term Loan | |||||||||
Issuance of Notes and Debentures: | |||||||||
Repayments of Short-Term Debt | 0 | 0 | (7,350) | 0 | (7,350) | ||||
BAML Bilateral Term Loan - Tranche A | |||||||||
Issuance of Notes and Debentures: | |||||||||
Repayments of Short-Term Debt | 0 | 0 | (1,000) | 0 | (1,000) | ||||
Private Financing | |||||||||
Issuance of Notes and Debentures: | |||||||||
Proceeds from Other Short-Term Debt | 0 | 750 | 0 | 0 | 750 | ||||
Repayments of Short-Term Debt | $ (750) | $ 0 | $ (750) | $ 0 | $ (1,500) | ||||
Various Global Notes Due 2022 to 2026 | USD notes | |||||||||
Issuance of Notes and Debentures: | |||||||||
Aggregate principal amount of debt | $ 9,042 | ||||||||
Various Global Notes Due 2026 to 2061 | USD notes | |||||||||
Issuance of Notes and Debentures: | |||||||||
Repayment of long-term debt | $ 7,954 | ||||||||
Aggregate principal amount of debt | $ 8,822 | ||||||||
Minimum | Various Global Notes Due 2022 to 2026 | USD notes | |||||||||
Issuance of Notes and Debentures: | |||||||||
Interest Rate | 2.625% | ||||||||
Minimum | Various Global Notes Due 2026 to 2061 | USD notes | |||||||||
Issuance of Notes and Debentures: | |||||||||
Interest Rate | 3.10% | ||||||||
Maximum | Various Global Notes Due 2022 to 2026 | USD notes | |||||||||
Issuance of Notes and Debentures: | |||||||||
Interest Rate | 4.45% | ||||||||
Maximum | Various Global Notes Due 2026 to 2061 | USD notes | |||||||||
Issuance of Notes and Debentures: | |||||||||
Interest Rate | 8.75% |
Debt (Long-Term Debt - Schedule
Debt (Long-Term Debt - Scheduled Repayments) (Details) $ in Millions | 12 Months Ended |
Dec. 31, 2022 USD ($) | |
Debt repayments | |
2023 | $ 6,929 |
2024 | 8,950 |
2025 | 5,948 |
2026 | 8,619 |
2027 | 6,278 |
Thereafter | $ 110,949 |
Weighted-average interest rate | |
2023 | 3.70% |
2024 | 4.10% |
2025 | 5.50% |
2026 | 3.10% |
2027 | 3.70% |
Thereafter | 4.20% |
Debt (Narrative) (Details)
Debt (Narrative) (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Debt Instrument [Line Items] | ||
Outstanding debt | $ 143,284 | $ 177,742 |
Weighted-average interest rate | 4.10% | 3.80% |
Debt Issued in Foreign Markets | ||
Debt Instrument [Line Items] | ||
Outstanding debt | $ 35,525 | $ 41,063 |
Debt (Financing Activities) (Na
Debt (Financing Activities) (Narrative) (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |||||
Dec. 31, 2022 | Sep. 30, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Debt Instrument [Line Items] | |||||||
Debt issuance | $ 2,979 | $ 9,931 | $ 31,988 | ||||
Proceeds from credit agreement borrowings | $ 2,500 | $ 750 | $ 0 | $ 479 | $ 3,729 | ||
Weighted maturity period | 2 years | ||||||
Weighted average coupon | 5.20% | ||||||
Weighted-average interest rate | 4.10% | 4.10% | 3.80% | ||||
Various Notes | |||||||
Debt Instrument [Line Items] | |||||||
Debt issuance | $ 479 | ||||||
Debt Instrument - principal/face amount | $ 479 | 479 | |||||
Proceeds from credit agreement borrowings | $ 3,250 | ||||||
Weighted average coupon | 3.10% | ||||||
Amount of borrowings repaid / debt exchanged | $ 34,835 |
Debt (Credit Facilities) (Narra
Debt (Credit Facilities) (Narrative) (Details) | 1 Months Ended | 3 Months Ended | 12 Months Ended | |||
Nov. 30, 2022 USD ($) | Mar. 31, 2021 USD ($) | Dec. 31, 2022 USD ($) renewal_option Rate | Nov. 18, 2022 USD ($) | Feb. 23, 2021 USD ($) | Jan. 29, 2021 USD ($) | |
Line of Credit Facility [Line Items] | ||||||
Minimum percentage of facility commitments required for lender involvement in option to extend commitments | 50% | |||||
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% | |||||
Financial Ratio Covenants Thereafter June 30, 2023 | ||||||
Line of Credit Facility [Line Items] | ||||||
Maximum net debt-to-EBITDA financial ratio covenant | Rate | 350% | |||||
High Credit Rating | ||||||
Line of Credit Facility [Line Items] | ||||||
Credit agreement - commitment fee percentage | 0.06% | |||||
Moderate Credit Rating | ||||||
Line of Credit Facility [Line Items] | ||||||
Credit agreement - commitment fee percentage | 0.07% | |||||
Low Credit Rating | ||||||
Line of Credit Facility [Line Items] | ||||||
Credit agreement - commitment fee percentage | 0.08% | |||||
Very Low Credit Rating | ||||||
Line of Credit Facility [Line Items] | ||||||
Credit agreement - commitment fee percentage | 0.10% | |||||
Federal Funds Rate | ||||||
Line of Credit Facility [Line Items] | ||||||
Credit agreement - basis spread of variable rate | 0.50% | |||||
Additional Margin Upon Default | ||||||
Line of Credit Facility [Line Items] | ||||||
Credit agreement - basis spread of variable rate | 2% | |||||
Term Loan Credit Agreement | 2021 Syndicated Term Loan | Bank of America, N.A. | ||||||
Line of Credit Facility [Line Items] | ||||||
Credit agreement - maximum borrowing capacity | $ 14,700,000,000 | |||||
Proceeds from Lines of Credit | $ 7,350,000,000 | |||||
Termination Loans | $ 7,350,000,000 | |||||
Term Loan Credit Agreement | BAML Bilateral Term Loan – Tranche B | Bank of America, N.A. | ||||||
Line of Credit Facility [Line Items] | ||||||
Proceeds from Lines of Credit | 2,000,000,000 | |||||
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 | 1,000,000,000 | |||||
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 | $ 1,000,000,000 | |||||
Term Loan Credit Agreement | 2025 Term Loan | Mizuho Bank, Ltd | ||||||
Line of Credit Facility [Line Items] | ||||||
Credit agreement - maximum borrowing capacity | $ 2,500,000,000 | |||||
Proceeds from Lines of Credit | $ 2,500,000,000 | |||||
Amount outstanding | $ 2,500,000,000 | |||||
Revolving Credit Facility | ||||||
Line of Credit Facility [Line Items] | ||||||
Amount outstanding | $ 0 | |||||
Termination Loans | $ 12,000,000,000 | |||||
Revolving Credit Facility | 2025 Term Loan | ||||||
Line of Credit Facility [Line Items] | ||||||
Maximum net debt-to-EBITDA financial ratio covenant | Rate | 375% | |||||
Revolving Credit Facility | Senior Secured Credit Facility Base Rate Loans [Member] | SOFR | ||||||
Line of Credit Facility [Line Items] | ||||||
Credit agreement - basis spread of variable rate | 0.10% | |||||
Revolving Credit Facility | Senior Secured Credit Facility Base Rate Loans [Member] | Leverage Based Margin [Member] | ||||||
Line of Credit Facility [Line Items] | ||||||
Credit agreement - basis spread of variable rate | 1% |
Fair Value Measurements And D_3
Fair Value Measurements And Disclosure (Long-Term Debt And Other Financial Instruments) (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Commercial Paper | $ 866 | $ 6,586 |
Carrying Amount | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Notes and debentures | 133,207 | 167,476 |
Commercial Paper | 866 | 6,586 |
Investment securities | 2,692 | 3,214 |
Fair Value | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Notes and debentures | 122,524 | 193,068 |
Commercial Paper | 866 | 6,586 |
Investment securities | $ 2,692 | $ 3,214 |
Fair Value Measurements And D_4
Fair Value Measurements And Disclosure (Fair Value Leveling) (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-Sale Debt Securities | $ 1,132 | $ 1,380 |
Cross-currency swaps | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Asset Derivatives | 28 | 211 |
Liability Derivatives | (6,010) | (3,170) |
Foreign exchange contracts | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Liability Derivatives | (23) | |
Fixed income equities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity Securities | 189 | 219 |
Domestic equities | Securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity Securities | 995 | 1,213 |
International equities | Securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity Securities | 198 | 221 |
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] | ||
Liability Derivatives | 0 | |
Level 1 | Fixed income equities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity Securities | 189 | 219 |
Level 1 | Domestic equities | Securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity Securities | 995 | 1,213 |
Level 1 | International equities | Securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity Securities | 198 | 221 |
Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-Sale Debt Securities | 1,132 | 1,380 |
Level 2 | Cross-currency swaps | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Asset Derivatives | 28 | 211 |
Liability Derivatives | (6,010) | (3,170) |
Level 2 | Foreign exchange contracts | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Liability Derivatives | (23) | |
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] | ||
Liability Derivatives | 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, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Fair Value Disclosures [Abstract] | |||
Total gains (losses) recognized on equity securities | $ (309) | $ 293 | $ 171 |
Gains (Losses) recognized on equity securities sold | (80) | (5) | (25) |
Unrealized gains (losses) recognized on equity securities held at end of period | $ (229) | $ 298 | $ 196 |
Fair Value Measurements And D_6
Fair Value Measurements And Disclosure (Narrative) (Details) - USD ($) $ in Millions | 9 Months Ended | ||
Sep. 30, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | |
Fair Value Disclosures [Abstract] | |||
Available-for-sale debt securities | $ 1,132 | $ 1,380 | |
Available-for-sale debt securities - maturities less than 1 year | 38 | ||
Available-for-sale debt securities - maturities within 1 to 3 years | 158 | ||
Available-for-sale debt securities - maturities within 3 to 5 years | 170 | ||
Available-for-sale debt securities - maturities for 5 or more years | 766 | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | |||
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification and Tax | $ 1,857 | ||
Anticipated reclassification of holding losses during the next 12 months - cash flow hedges | 59 | ||
Collateral submitted to counterparty | 886 | 135 | |
Collateral received from counterparty | 0 | $ 7 | |
Collateral contingently payable to the counterparty | 42 | ||
Measurement Input, Entity Credit Risk | |||
Fair Value, Option, Quantitative Disclosures [Line Items] | |||
Collateral contingently payable to the counterparty | $ 5,728 |
Fair Value Measurements And D_7
Fair Value Measurements And Disclosure (Notional Amount Of Our Outstanding Derivative Positions) (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Derivative [Line Items] | ||
Notional amounts of outstanding derivative positions | $ 38,830 | $ 40,737 |
Cross-currency swaps | ||
Derivative [Line Items] | ||
Notional amounts of outstanding derivative positions | 38,213 | 40,737 |
Foreign exchange contracts | ||
Derivative [Line Items] | ||
Notional amounts of outstanding derivative positions | $ 617 | $ 0 |
Fair Value Measurements And D_8
Fair Value Measurements And Disclosure (Effect Of Derivatives On The Consolidated Statements Of Income) (Details) - USD ($) $ in Millions | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gain (Loss) recognized in accumulated OCI | $ (1,857) | |||
Distribution of WarnerMedia | $ (12) | $ 0 | $ 0 | |
Interest rate swaps | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gain (Loss) on swaps | (3) | (4) | (6) | |
Gain (Loss) on long-term debt | 3 | 4 | 6 | |
Cross-currency swaps | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gain (Loss) on swaps | 2,195 | (91) | 0 | |
Gain (Loss) on long-term debt | (2,195) | 91 | 0 | |
Gain (Loss) recognized in accumulated OCI | 297 | (17) | 0 | |
Gain (Loss) recognized in accumulated OCI | (1,119) | (873) | (378) | |
Foreign exchange contracts | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gain (Loss) on swaps | (12) | 0 | 0 | |
Gain (Loss) on long-term debt | 12 | 0 | 0 | |
Gain (Loss) recognized in accumulated OCI | (12) | 0 | 0 | |
Gain (Loss) recognized in accumulated OCI | 3 | (17) | 3 | |
Foreign exchange contracts | Other income (expense) - net | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Amount reclassified from accumulated OCI into income | 1 | 1 | (3) | |
Interest rate locks | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gain (Loss) recognized in accumulated OCI | 0 | 0 | (648) | |
Interest rate locks | Other income (expense) - net | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Amount reclassified from accumulated OCI into income | (45) | 0 | 0 | |
Interest rate locks | Interest income (expense) | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Amount reclassified from accumulated OCI into income | $ (65) | $ (92) | $ (84) |
Income Taxes (Components Of Def
Income Taxes (Components Of Deferred Tax Liabilities (Assets)) (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Income Tax Disclosure [Abstract] | ||
Depreciation and amortization | $ 36,570 | $ 35,894 |
Licenses and nonamortizable intangibles | 19,339 | 15,573 |
Employee benefits | (2,251) | (3,178) |
Deferred fulfillment costs | 1,989 | 1,797 |
Equity in partnership | 3,284 | 3,285 |
Net operating loss and other carryforwards | (5,817) | (6,109) |
Other - net | (343) | 2,153 |
Subtotal | 52,771 | 49,415 |
Deferred tax assets valuation allowance | 4,175 | 4,343 |
Net deferred tax liabilities | 56,946 | 53,758 |
Noncurrent deferred tax liabilities | 57,032 | 53,767 |
Less: Noncurrent deferred tax assets | $ (86) | $ (9) |
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, 2022 | Dec. 31, 2021 | |
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | ||
Balance at beginning of year | $ 8,954 | $ 9,415 |
Increases for tax positions related to the current year | 1,389 | 677 |
Increases for tax positions related to prior years | 577 | 332 |
Decreases for tax positions related to prior years | (1,079) | (1,169) |
Lapse of statute of limitations | (2) | (6) |
Settlements | (182) | (295) |
Balance at end of year | 9,657 | 8,954 |
Accrued interest and penalties | 1,930 | 2,054 |
Gross unrecognized income tax benefits | 11,587 | 11,008 |
Less: Deferred federal and state income tax benefits | (723) | (728) |
Less: Tax attributable to timing items included above | (4,640) | (3,428) |
Total UTB that, if recognized, would impact the effective income tax rate as of the end of the year | $ 6,224 | $ 6,852 |
Income Taxes (Components of Inc
Income Taxes (Components of Income Tax Expense (Benefit)) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Federal: | |||
Current | $ 579 | $ (2,400) | $ (346) |
Deferred | 2,206 | 6,872 | 858 |
Total federal income tax | 2,785 | 4,472 | 512 |
State and local: | |||
Current | 21 | 289 | 338 |
Deferred | 912 | 648 | 272 |
Total state and local income tax | 933 | 937 | 610 |
Foreign: | |||
Current | 106 | (66) | 14 |
Deferred | (44) | 52 | 32 |
Total foreign income tax | 62 | (14) | 46 |
Total | $ 3,780 | $ 5,395 | $ 1,168 |
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, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Income Tax Disclosure [Abstract] | |||
U.S. income (loss) before income taxes | $ (1,480) | $ 29,678 | $ 510 |
Foreign income (loss) before income taxes | (1,614) | (507) | (864) |
Income (Loss) from Continuing Operations Before Income Taxes | $ (3,094) | $ 29,171 | $ (354) |
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, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Income Tax Disclosure [Abstract] | |||
Taxes computed at federal statutory rate | $ (650) | $ 6,126 | $ (74) |
Increases (decreases) in income taxes resulting from: | |||
State and local income taxes – net of federal income tax benefit | 795 | 936 | 170 |
CARES Act federal NOL carryback | 0 | (471) | 0 |
Tax on foreign investments | 43 | 47 | (124) |
Noncontrolling interest | (308) | (291) | (286) |
Permanent items and R&D credit | (121) | (153) | (195) |
Audit resolutions | (642) | (220) | (112) |
Divestitures | (481) | (558) | 107 |
Goodwill impairment | 5,210 | 16 | 1,702 |
Other – net | (66) | (37) | (20) |
Total | $ 3,780 | $ 5,395 | $ 1,168 |
Effective Tax Rate | (122.20%) | 18.50% | (329.90%) |
Income Taxes (Narrative) (Detai
Income Taxes (Narrative) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Operating Loss Carryforwards [Line Items] | |||
Net operating and capital loss carryforwards (tax effected) for federal income tax purposes | $ 892 | ||
Net operating and capital loss carryforwards (tax effected) for state income tax purposes | 747 | ||
Net operating and capital loss carryforwards (tax effected) for foreign income tax purposes | 2,441 | ||
Amount of deposits that reduced UTB balance | 1,767 | $ 377 | |
Accrued interest and penalties included in unrecognized tax benefits balance at year end | 1,930 | 2,054 | |
Net interest and penalty expense included in income tax expense | (86) | $ (129) | $ 127 |
Federal | |||
Operating Loss Carryforwards [Line Items] | |||
Tax credit carryforwards | 293 | ||
State | |||
Operating Loss Carryforwards [Line Items] | |||
Tax credit carryforwards | $ 1,444 |
Pension And Postretirement Be_3
Pension And Postretirement Benefits (Change In The Projected Benefit Obligation) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | |||
Actuarial (gain) loss | $ (1,999) | $ (4,143) | $ 4,169 |
Pension Benefits | |||
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | |||
Benefit obligation at beginning of year | 57,212 | 62,158 | |
Service cost - benefits earned during the period | 617 | 957 | 1,029 |
Interest cost on projected benefit obligation | 1,747 | 1,276 | 1,687 |
Amendments | 0 | 0 | |
Actuarial (gain) loss | (10,894) | (1,237) | |
Benefits paid, including settlements | (5,854) | (5,942) | |
Benefit obligation at end of year | 42,828 | 57,212 | 62,158 |
Postretirement Benefits | |||
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | |||
Benefit obligation at beginning of year | 12,552 | 13,928 | |
Service cost - benefits earned during the period | 32 | 45 | 53 |
Interest cost on projected benefit obligation | 277 | 210 | 416 |
Amendments | (2,370) | 0 | |
Actuarial (gain) loss | (1,919) | (275) | |
Benefits paid, including settlements | (1,292) | (1,356) | |
Benefit obligation at end of year | $ 7,280 | $ 12,552 | $ 13,928 |
Pension And Postretirement Be_4
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, 2022 | Dec. 31, 2021 | |
Pension Benefits | ||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||
Fair value of plan assets at beginning of year | $ 54,401 | $ 54,606 |
Actual return on plan assets | (7,673) | 5,737 |
Benefits paid, including settlements | (5,854) | (5,942) |
Contributions | 0 | 0 |
Fair value of plan assets at end of year | 40,874 | 54,401 |
Unfunded status at end of year | (1,954) | (2,811) |
Postretirement Benefits | ||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||
Fair value of plan assets at beginning of year | 3,198 | 3,843 |
Actual return on plan assets | (370) | 210 |
Benefits paid, including settlements | (788) | (1,163) |
Contributions | 120 | 308 |
Fair value of plan assets at end of year | 2,160 | 3,198 |
Unfunded status at end of year | $ (5,120) | $ (9,354) |
Pension And Postretirement Be_5
Pension And Postretirement Benefits (Employee Benefit Obligation Amounts Recognized) (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Defined Benefit Plan Disclosure [Line Items] | ||
Noncurrent portion of employee benefit obligation | $ 7,260 | $ 12,560 |
Pension Benefits | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Current portion of employee benefit obligation | 0 | 0 |
Employee benefit obligation | (1,954) | (2,811) |
Net amount recognized | (1,954) | (2,811) |
Pension Benefits | International | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Noncurrent portion of employee benefit obligation | 161 | 364 |
Postretirement Benefits | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Current portion of employee benefit obligation | (1,058) | (1,106) |
Employee benefit obligation | (4,062) | (8,248) |
Net amount recognized | (5,120) | (9,354) |
Postretirement Benefits | International | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Noncurrent portion of employee benefit obligation | $ 1,083 | $ 1,226 |
Pension And Postretirement Be_6
Pension And Postretirement Benefits (Net Periodic Benefit Cost (Credit)) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Defined Benefit Plan Disclosure [Line Items] | |||
Net pension and postretirement cost (credit) | $ (4,789) | $ (7,652) | $ 711 |
Pension Benefits | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Service cost – benefits earned during the period | 617 | 957 | 1,029 |
Interest cost on projected benefit obligation | 1,747 | 1,276 | 1,687 |
Expected return on assets | (3,107) | (3,513) | (3,557) |
Amortization of prior service credit | (133) | (144) | (113) |
Net periodic benefit cost (credit) before remeasurement | (876) | (1,424) | (954) |
Actuarial (gain) loss | (115) | (3,461) | 2,404 |
Net pension and postretirement cost (credit) | (991) | (4,885) | 1,450 |
Postretirement Benefits | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Service cost – benefits earned during the period | 32 | 45 | 53 |
Interest cost on projected benefit obligation | 277 | 210 | 416 |
Expected return on assets | (112) | (151) | (178) |
Amortization of prior service credit | (2,558) | (2,537) | (2,329) |
Net periodic benefit cost (credit) before remeasurement | (2,361) | (2,433) | (2,038) |
Actuarial (gain) loss | (1,437) | (334) | 1,299 |
Net pension and postretirement cost (credit) | $ (3,798) | $ (2,767) | $ (739) |
Pension And Postretirement Be_7
Pension And Postretirement Benefits (Other Changes Recognized in Other Comprehensive Income) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Accumulated Other Comprehensive (Income) Loss, Defined Benefit Plan, after Tax [Roll Forward] | |||
Prior service (cost) credit | $ 1,787 | $ (34) | $ 2,250 |
Amortization of prior service credit | (2,028) | (2,020) | (1,841) |
Pension Benefits | |||
Accumulated Other Comprehensive (Income) Loss, Defined Benefit Plan, after Tax [Roll Forward] | |||
Balance at beginning of year | 416 | 525 | 361 |
Prior service (cost) credit | 0 | 0 | 250 |
Amortization of prior service credit | (100) | (109) | (86) |
Total recognized in other comprehensive (income) loss | (100) | (109) | 164 |
Balance at end of year | 316 | 416 | 525 |
Postretirement Benefits | |||
Accumulated Other Comprehensive (Income) Loss, Defined Benefit Plan, after Tax [Roll Forward] | |||
Balance at beginning of year | 6,496 | 8,408 | 8,163 |
Prior service (cost) credit | 1,786 | 0 | 2,001 |
Amortization of prior service credit | (1,928) | (1,912) | (1,756) |
Total recognized in other comprehensive (income) loss | (142) | (1,912) | 245 |
Balance at end of year | $ 6,354 | $ 6,496 | $ 8,408 |
Pension and Postretirement Be_8
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, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Defined Benefit Plan Disclosure [Line Items] | |||
Composite rate of compensation increase for determining benefit obligation | 3% | 3% | |
Pension Benefits | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Weighted-average discount rate for determining benefit obligation at December 31 | 5.20% | 3% | 2.70% |
Weighted-average interest credit rate for cash balance pension programs | 4.10% | 3.20% | 3.10% |
Long-term rate of return on plan assets | 6.75% | 6.75% | 7% |
Composite rate of compensation increase for determining benefit obligation | 3% | 3% | 3% |
Composite rate of compensation increase for determining net cost (credit) | 3% | 3% | 3% |
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 | $ 135 | ||
Pension Benefits | Service Cost | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Discount rate in effect for determining net cost | 4.40% | 3.30% | 3.60% |
Pension Benefits | Interest Cost | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Discount rate in effect for determining net cost | 3.90% | 2.30% | 2.90% |
Postretirement Benefits | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Weighted-average discount rate for determining benefit obligation at December 31 | 5.20% | 2.80% | 2.40% |
Weighted-average interest credit rate for cash balance pension programs | 0% | 0% | 0% |
Long-term rate of return on plan assets | 4.50% | 4.50% | 4.75% |
Composite rate of compensation increase for determining benefit obligation | 3% | 3% | 3% |
Composite rate of compensation increase for determining net cost (credit) | 3% | 3% | 3% |
Postretirement Benefits | Service Cost | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Discount rate in effect for determining net cost | 4% | 2.90% | 3.50% |
Postretirement Benefits | Interest Cost | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Discount rate in effect for determining net cost | 3.20% | 1.60% | 2.70% |
Pension And Postretirement Be_9
Pension And Postretirement Benefits (Schedule Of Defined Benefit Plan Targeted And Actual Plan Asset Allocations) (Details) | Dec. 31, 2022 | Dec. 31, 2021 |
Pension Assets | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual plan asset allocation percentage | 100% | 100% |
Pension Assets | Domestic | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual plan asset allocation percentage | 7% | 16% |
Pension Assets | Domestic | Minimum | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target plan asset allocation percentage | 5% | |
Pension Assets | Domestic | Maximum | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target plan asset allocation percentage | 25% | |
Pension Assets | International | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual plan asset allocation percentage | 4% | 13% |
Pension Assets | International | Minimum | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target plan asset allocation percentage | 1% | |
Pension Assets | International | Maximum | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target plan asset allocation percentage | 21% | |
Pension Assets | Fixed income securities | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual plan asset allocation percentage | 45% | 38% |
Pension Assets | Fixed income securities | Minimum | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target plan asset allocation percentage | 40% | |
Pension Assets | Fixed income securities | Maximum | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target plan asset allocation percentage | 50% | |
Pension Assets | Real estate and real assets | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual plan asset allocation percentage | 16% | 10% |
Pension Assets | Real estate and real assets | Minimum | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target plan asset allocation percentage | 0% | |
Pension Assets | Real estate and real assets | Maximum | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target plan asset allocation percentage | 20% | |
Pension Assets | Private equity | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual plan asset allocation percentage | 14% | 12% |
Pension Assets | Private equity | Minimum | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target plan asset allocation percentage | 0% | |
Pension Assets | Private equity | Maximum | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target plan asset allocation percentage | 16% | |
Pension Assets | Preferred interests | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual plan asset allocation percentage | 13% | 10% |
Pension Assets | Preferred interests | Minimum | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target plan asset allocation percentage | 8% | |
Pension Assets | Preferred interests | Maximum | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target plan asset allocation percentage | 18% | |
Pension Assets | Other | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual plan asset allocation percentage | 1% | 1% |
Pension Assets | Other | Minimum | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target plan asset allocation percentage | 0% | |
Pension Assets | Other | Maximum | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target plan asset allocation percentage | 5% | |
Postretirement (VEBA) Assets | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual plan asset allocation percentage | 100% | 100% |
Postretirement (VEBA) Assets | Domestic | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual plan asset allocation percentage | 21% | 19% |
Postretirement (VEBA) Assets | Domestic | Minimum | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target plan asset allocation percentage | 16% | |
Postretirement (VEBA) Assets | Domestic | Maximum | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target plan asset allocation percentage | 26% | |
Postretirement (VEBA) Assets | International | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual plan asset allocation percentage | 21% | 19% |
Postretirement (VEBA) Assets | International | Minimum | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target plan asset allocation percentage | 16% | |
Postretirement (VEBA) Assets | International | Maximum | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target plan asset allocation percentage | 26% | |
Postretirement (VEBA) Assets | Fixed income securities | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual plan asset allocation percentage | 47% | 39% |
Postretirement (VEBA) Assets | Fixed income securities | Minimum | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target plan asset allocation percentage | 42% | |
Postretirement (VEBA) Assets | Fixed income securities | Maximum | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target plan asset allocation percentage | 52% | |
Postretirement (VEBA) Assets | Real estate and real assets | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual plan asset allocation percentage | 1% | 1% |
Postretirement (VEBA) Assets | Real estate and real assets | Minimum | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target plan asset allocation percentage | 0% | |
Postretirement (VEBA) Assets | Real estate and real assets | Maximum | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target plan asset allocation percentage | 6% | |
Postretirement (VEBA) Assets | Private equity | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual plan asset allocation percentage | 1% | 1% |
Postretirement (VEBA) Assets | Private equity | Minimum | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target plan asset allocation percentage | 0% | |
Postretirement (VEBA) Assets | Private equity | Maximum | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target plan asset allocation percentage | 6% | |
Postretirement (VEBA) Assets | Preferred interests | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual plan asset allocation percentage | 0% | 0% |
Postretirement (VEBA) Assets | Preferred interests | Minimum | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target plan asset allocation percentage | 0% | |
Postretirement (VEBA) Assets | Preferred interests | Maximum | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target plan asset allocation percentage | 0% | |
Postretirement (VEBA) Assets | Other | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual plan asset allocation percentage | 9% | 21% |
Postretirement (VEBA) Assets | Other | Minimum | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target plan asset allocation percentage | 5% | |
Postretirement (VEBA) Assets | Other | Maximum | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Target plan asset allocation percentage | 15% |
Pension And Postretirement B_10
Pension And Postretirement Benefits (Schedule Of Fair Value Of Pension And Postretirement Assets And Liabilities By Level) (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Pension Benefits | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | $ 40,874 | $ 54,401 | $ 54,606 |
Pension Benefits | Assets at fair value | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 31,088 | 42,234 | |
Pension Benefits | Non-interest bearing cash | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 158 | 167 | |
Pension Benefits | Interest bearing cash | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 5 | 11 | |
Pension Benefits | Foreign currency contracts | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 4 | 5 | |
Pension Benefits | Equity securities: Domestic equities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 2,314 | 7,694 | |
Pension Benefits | Equity securities: International equities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 1,251 | 4,124 | |
Pension Benefits | Preferred interests | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 5,427 | 5,562 | |
Pension Benefits | Fixed income securities: Corporate bonds and other investments | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 9,367 | 11,170 | |
Pension Benefits | Fixed income securities: Government and municipal bonds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 5,450 | 6,977 | |
Pension Benefits | Fixed income securities: Mortgage-backed securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 220 | 268 | |
Pension Benefits | Real estate and real assets | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 4,343 | 3,318 | |
Pension Benefits | Securities lending collateral | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 2,544 | 2,930 | |
Pension Benefits | Receivable for variation margin | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 5 | 8 | |
Pension Benefits | Investments sold short and other liabilities at fair value | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | (266) | (533) | |
Pension Benefits | Private equity funds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | $ 5,866 | $ 6,454 | |
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 | $ 1,907 | $ 2,329 | |
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 | $ 5,045 | $ 6,780 | |
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 | $ (2,766) | $ (2,863) | |
Postretirement Benefits | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 2,160 | 3,198 | 3,843 |
Postretirement Benefits | Assets at fair value | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 699 | 1,287 | |
Postretirement Benefits | Interest bearing cash | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 195 | 666 | |
Postretirement Benefits | Equity securities: Domestic equities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 258 | 323 | |
Postretirement Benefits | Equity securities: International equities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 234 | 288 | |
Postretirement Benefits | Fixed income securities: Corporate bonds and other investments | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 1 | ||
Postretirement Benefits | Securities lending collateral | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 12 | 9 | |
Postretirement Benefits | Securities lending payable and other liabilities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | (12) | (9) | |
Postretirement Benefits | Private equity funds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | $ 13 | $ 1,883 | |
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 | $ 1,445 | $ 19 | |
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 | $ 13 | $ 16 | |
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 | $ 2 | |
Level 1, 2, and 3 | Pension Benefits | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 30,822 | 41,701 | |
Level 1, 2, and 3 | Postretirement Benefits | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 687 | 1,278 | |
Level 1 | Pension Benefits | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 4,607 | 13,112 | |
Level 1 | Pension Benefits | Assets at fair value | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 4,868 | 13,641 | |
Level 1 | Pension Benefits | Non-interest bearing cash | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 158 | 167 | |
Level 1 | Pension Benefits | Interest bearing cash | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 5 | 11 | |
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 | 2,312 | 7,693 | |
Level 1 | Pension Benefits | Equity securities: International equities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 1,251 | 4,117 | |
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 | 1,137 | 1,645 | |
Level 1 | Pension Benefits | Receivable for variation margin | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 5 | 8 | |
Level 1 | Pension Benefits | Investments sold short and other liabilities at fair value | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | (261) | (529) | |
Level 1 | Postretirement Benefits | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 682 | 982 | |
Level 1 | Postretirement Benefits | Assets at fair value | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 682 | 982 | |
Level 1 | Postretirement Benefits | Interest bearing cash | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 191 | 371 | |
Level 1 | Postretirement Benefits | Equity securities: Domestic equities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 258 | 323 | |
Level 1 | Postretirement Benefits | Equity securities: International equities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 233 | 287 | |
Level 1 | Postretirement Benefits | Fixed income securities: Corporate bonds and other investments | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 1 | ||
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 | 0 | |
Level 2 | Pension Benefits | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 16,442 | 19,700 | |
Level 2 | Pension Benefits | Assets at fair value | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 16,447 | 19,703 | |
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 | 4 | 5 | |
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 | 0 | |
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 | 9,366 | 11,168 | |
Level 2 | Pension Benefits | Fixed income securities: Government and municipal bonds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 5,450 | 6,977 | |
Level 2 | Pension Benefits | Fixed income securities: Mortgage-backed securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 220 | 268 | |
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 | 1,407 | 1,285 | |
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 | (5) | (3) | |
Level 2 | Postretirement Benefits | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 4 | 295 | |
Level 2 | Postretirement Benefits | Assets at fair value | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 16 | 304 | |
Level 2 | Postretirement Benefits | Interest bearing cash | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 4 | 295 | |
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 | ||
Level 2 | Postretirement Benefits | Securities lending collateral | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 12 | 9 | |
Level 2 | Postretirement Benefits | Securities lending payable and other liabilities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | (12) | (9) | |
Level 3 | Pension Benefits | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 9,773 | 8,889 | 8,390 |
Level 3 | Pension Benefits | Assets at fair value | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 9,773 | 8,890 | |
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 | 5,429 | 5,569 | 5,793 |
Level 3 | Pension Benefits | Equity securities: Domestic equities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 2 | 1 | |
Level 3 | Pension Benefits | Equity securities: International equities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 0 | 7 | |
Level 3 | Pension Benefits | Preferred interests | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 5,427 | 5,562 | |
Level 3 | Pension Benefits | Fixed Income Funds [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 1 | 2 | 53 |
Level 3 | Pension Benefits | Fixed income securities: Corporate bonds and other investments | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 1 | 2 | |
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 | 0 | |
Level 3 | Pension Benefits | Real estate and real assets | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 4,343 | 3,318 | $ 2,544 |
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 | 0 | (1) | |
Level 3 | Postretirement Benefits | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 1 | 1 | |
Level 3 | Postretirement Benefits | Assets at fair value | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 1 | 1 | |
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: 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 | 1 | |
Level 3 | Postretirement Benefits | Fixed income securities: Corporate bonds and other investments | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 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 | 12,818 | 15,563 | |
Assets held at net asset value practical expedient | Postretirement Benefits | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | $ 1,471 | $ 1,918 |
Pension And Postretirement B_11
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, 2022 | Dec. 31, 2021 | |
Pension Assets | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Fair value of plan assets at beginning of year | $ 54,401 | $ 54,606 |
Fair value of plan assets at end of year | 40,874 | 54,401 |
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 | 8,889 | 8,390 |
Defined Benefit Plan, Plan Assets Level 3 Reconciliation, Increase (Decrease) for Actual Return (Loss) on Plan Assets Sold | 23 | (29) |
Defined Benefit Plan, Plan Assets Level 3 Reconciliation, Increase (Decrease) for Actual Return (Loss) on Plan Assets Still Held | 663 | 355 |
Defined Benefit Plan, Plan Assets Level 3 Reconciliation, Increase (Decrease) For Assets Transferred Into Level 3 | 22 | 1 |
Defined Benefit Plan, Plan Assets Level 3 Reconciliation, Increase (Decrease) For Assets Transferred Out Of Level 3 | (31) | (15) |
Defined Benefit Plan, Plan Assets Level 3 Reconciliation, Increase for Purchase | 716 | 433 |
Defined Benefit Plan, Plan Assets Level 3 Reconciliation, Decrease for Sale | (509) | (246) |
Fair value of plan assets at end of year | 9,773 | 8,889 |
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 | 5,569 | 5,793 |
Defined Benefit Plan, Plan Assets Level 3 Reconciliation, Increase (Decrease) for Actual Return (Loss) on Plan Assets Sold | 1 | 2 |
Defined Benefit Plan, Plan Assets Level 3 Reconciliation, Increase (Decrease) for Actual Return (Loss) on Plan Assets Still Held | (139) | (203) |
Defined Benefit Plan, Plan Assets Level 3 Reconciliation, Increase (Decrease) For Assets Transferred Into Level 3 | 1 | 0 |
Defined Benefit Plan, Plan Assets Level 3 Reconciliation, Increase (Decrease) For Assets Transferred Out Of Level 3 | 0 | (7) |
Defined Benefit Plan, Plan Assets Level 3 Reconciliation, Increase for Purchase | 0 | 7 |
Defined Benefit Plan, Plan Assets Level 3 Reconciliation, Decrease for Sale | (3) | (23) |
Fair value of plan assets at end of year | 5,429 | 5,569 |
Pension Assets | Fixed Income Funds [Member] | 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 | 53 |
Defined Benefit Plan, Plan Assets Level 3 Reconciliation, Increase (Decrease) for Actual Return (Loss) on Plan Assets Sold | 0 | 0 |
Defined Benefit Plan, Plan Assets Level 3 Reconciliation, Increase (Decrease) for Actual Return (Loss) on Plan Assets Still Held | 0 | 0 |
Defined Benefit Plan, Plan Assets Level 3 Reconciliation, Increase (Decrease) For Assets Transferred Into Level 3 | 1 | 1 |
Defined Benefit Plan, Plan Assets Level 3 Reconciliation, Increase (Decrease) For Assets Transferred Out Of Level 3 | (2) | (8) |
Defined Benefit Plan, Plan Assets Level 3 Reconciliation, Increase for Purchase | 0 | 1 |
Defined Benefit Plan, Plan Assets Level 3 Reconciliation, Decrease for Sale | 0 | (45) |
Fair value of plan assets at end of year | 1 | 2 |
Pension Assets | Defined Benefit Plan, Real Estate [Member] | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Fair value of plan assets at beginning of year | 3,318 | |
Fair value of plan assets at end of year | 4,343 | 3,318 |
Pension Assets | Defined Benefit Plan, Real Estate [Member] | Level 3 | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Fair value of plan assets at beginning of year | 3,318 | 2,544 |
Defined Benefit Plan, Plan Assets Level 3 Reconciliation, Increase (Decrease) for Actual Return (Loss) on Plan Assets Sold | 22 | (31) |
Defined Benefit Plan, Plan Assets Level 3 Reconciliation, Increase (Decrease) for Actual Return (Loss) on Plan Assets Still Held | 802 | 558 |
Defined Benefit Plan, Plan Assets Level 3 Reconciliation, Increase (Decrease) For Assets Transferred Into Level 3 | 20 | 0 |
Defined Benefit Plan, Plan Assets Level 3 Reconciliation, Increase (Decrease) For Assets Transferred Out Of Level 3 | (29) | 0 |
Defined Benefit Plan, Plan Assets Level 3 Reconciliation, Increase for Purchase | 716 | 425 |
Defined Benefit Plan, Plan Assets Level 3 Reconciliation, Decrease for Sale | (506) | (178) |
Fair value of plan assets at end of year | 4,343 | 3,318 |
Other Postretirement Benefits Plan [Member] | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Fair value of plan assets at beginning of year | 3,198 | 3,843 |
Fair value of plan assets at end of year | 2,160 | 3,198 |
Other Postretirement Benefits Plan [Member] | Level 3 | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Fair value of plan assets at beginning of year | 1 | |
Fair value of plan assets at end of year | $ 1 | $ 1 |
Pension And Postretirement B_12
Pension And Postretirement Benefits (Estimated Future Benefit Payments) (Details) $ in Millions | Dec. 31, 2022 USD ($) |
Pension Benefits | |
Defined Benefit Plan Disclosure [Line Items] | |
2023 | $ 5,612 |
2024 | 3,734 |
2025 | 3,747 |
2026 | 3,632 |
2027 | 3,561 |
Defined Benefit Plan, Expected Future Benefit Payment, after Year Five for Next Five Years | 16,688 |
Postretirement Benefits | |
Defined Benefit Plan Disclosure [Line Items] | |
2023 | 1,211 |
2024 | 801 |
2025 | 640 |
2026 | 598 |
2027 | 568 |
Defined Benefit Plan, Expected Future Benefit Payment, after Year Five for Next Five Years | $ 2,322 |
Pension And Postretirement B_13
Pension And Postretirement Benefits (Narrative) (Details) - USD ($) | 1 Months Ended | 12 Months Ended | ||||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Defined Benefit Plan Disclosure [Line Items] | ||||||
Combined net pension and postretirement cost | $ (4,789,000,000) | $ (7,652,000,000) | $ 711,000,000 | |||
Increase (decrease) in plan benefit obligations due to change in assumed rates | $ (3,237,000,000) | $ (3,857,000,000) | (2,992,000,000) | |||
Composite rate of compensation increase for determining benefit obligation | 3% | 3% | 3% | 3% | ||
Discretionary contributions to postretirement plan | $ 120,000,000 | $ 308,000,000 | ||||
Debt-financed shares held by ESOPs (allocated or unallocated) | 0 | $ 0 | ||||
Benefit cost of the contributory savings plans | 611,000,000 | $ 614,000,000 | 646,000,000 | |||
Forecast | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Increase (decrease) in plan benefit obligations due to change in assumed rates | $ 201,000,000 | |||||
Assumptions used, percentage change in weighted-average interest crediting rate that would impact pension and postretirement benefit obligations | (0.50%) | |||||
Pension Benefits | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Accumulated benefit obligation for pension plans | $ 42,137,000,000 | $ 56,159,000,000 | 42,137,000,000 | 56,159,000,000 | ||
Combined net pension and postretirement cost | $ (991,000,000) | $ (4,885,000,000) | $ 1,450,000,000 | |||
Discount rate for determining projected benefit obligation | 5.20% | 3% | 5.20% | 3% | 2.70% | |
Decrease in discount rate over prior year | 2.20% | 0.30% | ||||
Increase (decrease) in plan benefit obligations due to change in assumed rates | $ (11,738,000,000) | $ (1,645,000,000) | ||||
Long-term rate of return on plan assets | 6.75% | 6.75% | 7% | |||
Composite rate of compensation increase for determining benefit obligation | 3% | 3% | 3% | 3% | 3% | |
Preferred equity interest value | $ 40,874,000,000 | $ 54,401,000,000 | $ 40,874,000,000 | $ 54,401,000,000 | $ 54,606,000,000 | |
Aggregate percentage of the fair value of investments to the fair value of total plan assets held as of the measurement date | 100% | 100% | 100% | 100% | ||
Pension Benefits | Level 3 | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Preferred equity interest value | $ 9,773,000,000 | $ 8,889,000,000 | $ 9,773,000,000 | $ 8,889,000,000 | 8,390,000,000 | |
Pension Benefits | Preferred interests | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Preferred equity interest value | $ 5,427,000,000 | $ 5,562,000,000 | $ 5,427,000,000 | $ 5,562,000,000 | ||
Aggregate percentage of the fair value of investments to the fair value of total plan assets held as of the measurement date | 13% | 10% | 13% | 10% | ||
Pension Benefits | Preferred interests | Level 3 | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Preferred equity interest value | $ 5,427,000,000 | $ 5,562,000,000 | $ 5,427,000,000 | $ 5,562,000,000 | ||
Pension Benefits | Mobility II, LLC | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Aggregate percentage of the fair value of investments to the fair value of total plan assets held as of the measurement date | 14% | 14% | ||||
Pension Benefits | Mobility II, LLC | Preferred interests | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Preferred equity interest value held by pension trust | $ 5,427,000,000 | $ 5,562,000,000 | $ 5,427,000,000 | 5,562,000,000 | ||
Pension Benefits | Forecast | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Long-term rate of return on plan assets | 7.50% | |||||
Assumptions used, percentage change in weighted-average interest crediting rate that would impact pension and postretirement benefit obligations | 0.75% | |||||
Postretirement Benefits | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Combined net pension and postretirement cost | $ (3,798,000,000) | $ (2,767,000,000) | $ (739,000,000) | |||
Discount rate for determining projected benefit obligation | 5.20% | 2.80% | 5.20% | 2.80% | 2.40% | |
Decrease in discount rate over prior year | 2.40% | 0.40% | ||||
Increase (decrease) in plan benefit obligations due to change in assumed rates | $ (2,102,000,000) | $ (341,000,000) | ||||
Long-term rate of return on plan assets | 4.50% | 4.50% | 4.75% | |||
Composite rate of compensation increase for determining benefit obligation | 3% | 3% | 3% | 3% | 3% | |
Preferred equity interest value | $ 2,160,000,000 | $ 3,198,000,000 | $ 2,160,000,000 | $ 3,198,000,000 | $ 3,843,000,000 | |
Aggregate percentage of the fair value of investments to the fair value of total plan assets held as of the measurement date | 100% | 100% | 100% | 100% | ||
Postretirement Benefits | Level 3 | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Preferred equity interest value | $ 1,000,000 | $ 1,000,000 | $ 1,000,000 | $ 1,000,000 | ||
Postretirement Benefits | Preferred interests | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Aggregate percentage of the fair value of investments to the fair value of total plan assets held as of the measurement date | 0% | 0% | 0% | 0% | ||
Postretirement Benefits | Forecast | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Long-term rate of return on plan assets | 6.50% | |||||
Assumptions used, percentage change in weighted-average interest crediting rate that would impact pension and postretirement benefit obligations | 2% | |||||
Postretirement 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 | |||||
Estimated annual growth rate for health care cost | 4% | 4% | ||||
Postretirement Benefits | Prescription Drug Cost - Eligible Participants | Forecast | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Assumed annual and ultimate health care cost trend rate for next fiscal year | 4.25% | |||||
Postretirement 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 | |||||
Estimated annual growth rate for health care cost | 4% | 4% | ||||
Postretirement Benefits | Medical Cost - Eligible Participants | Forecast | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Assumed annual and ultimate health care cost trend rate for next fiscal year | 4.25% | |||||
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 | $ 19,000,000 | |||||
Estimated annual growth rate for health care cost | 4.25% | 4.25% | ||||
Healthcare Benefits | Prescription Drug Cost - Eligible Participants | Forecast | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Assumed annual and ultimate health care cost trend rate for next fiscal year | 4.50% | |||||
Healthcare Benefits | Medical Cost - Eligible Participants | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Increase (decrease) in plan benefit obligations due to change in assumed rates | $ 19,000,000 | |||||
Estimated annual growth rate for health care cost | 4.25% | 4.25% | ||||
Healthcare Benefits | Medical Cost - Eligible Participants | Forecast | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Assumed annual and ultimate health care cost trend rate for next fiscal year | 4.50% | |||||
Supplemental Employee Retirement Plan | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Combined net pension and postretirement cost | $ (234,000,000) | $ (41,000,000) | ||||
Discount rate for determining projected benefit obligation | 5.10% | 2.70% | 5.10% | 2.70% | ||
Projected benefit obligation | $ 1,544,000,000 | $ 2,326,000,000 | $ 1,544,000,000 | $ 2,326,000,000 | ||
Deferred compensation expense | $ 94,000,000 | $ 171,000,000 | $ 183,000,000 |
Share-Based Payments (Compensat
Share-Based Payments (Compensation Cost And Valuation Assumption) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Total | $ 518 | $ 447 | $ 422 |
Income tax benefit | 127 | 110 | 104 |
Performance stock units | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Total | 168 | 248 | 348 |
Restricted stock and stock units | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Total | 350 | 199 | 74 |
Other nonvested stock units | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Total | 0 | 0 | 0 |
Stock options | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Total | $ 0 | $ 0 | $ 0 |
Share-Based Payments (Summary O
Share-Based Payments (Summary Of Nonvested Stock Units Activity) (Details) shares in Thousands | 12 Months Ended |
Dec. 31, 2022 $ / shares shares | |
Shares | |
Nonvested at beginning of period (in shares) | 35,000 |
Granted (in shares) | 21,000 |
Vested (in shares) | (28,000) |
Forfeited (in shares) | (5,000) |
Spin-off Adjustment (in shares) | 13,000 |
Nonvested at end of period (in shares) | 36,000 |
Weighted-Average Grant- Date Fair Value | |
Nonvested at beginning of period (in dollars per share) | $ / shares | $ 32.33 |
Granted (in dollars per share) | $ / shares | 23.64 |
Vested (in dollars per share) | $ / shares | 27.64 |
Forfeited (in dollars per share) | $ / shares | 23.76 |
Nonvested at end of period (in dollars per share) | $ / shares | $ 22.07 |
Share-Based Payments (Narrative
Share-Based Payments (Narrative) (Details) - USD ($) shares in Millions, $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
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) | 128 | ||
Total unrecognized compensation cost related to nonvested share-based payment arrangements granted | $ 547 | ||
Weighted-average period to recognize the cost (years) - nonvested units | 1 year 8 months 8 days | ||
Total fair value of shares vested during the year - nonvested units | $ 783 | $ 608 | $ 471 |
Cash proceeds from exercise of stock options | $ 2 | $ 11 | $ 21 |
Performance stock units | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Vesting period | 3 years | ||
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 | ||
Other nonvested stock units | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Vesting period | 3 years | ||
Other nonvested stock units | Minimum | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Vesting period | 1 year | ||
Other nonvested stock units | Maximum | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Vesting period | 4 years |
Stockholders' Equity (Narrative
Stockholders' Equity (Narrative) (Details) $ / shares in Units, $ in Millions | 1 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||||||
Dec. 27, 2022 USD ($) shares | Oct. 24, 2022 USD ($) shares | Nov. 06, 2020 USD ($) | Oct. 31, 2020 USD ($) | Oct. 31, 2024 USD ($) | Oct. 31, 2023 USD ($) | Dec. 31, 2022 USD ($) $ / shares shares | Dec. 31, 2022 USD ($) $ / shares shares | Dec. 31, 2021 USD ($) $ / shares shares | Sep. 30, 2022 USD ($) | Dec. 31, 2022 USD ($) period $ / shares shares | Dec. 31, 2021 USD ($) $ / shares shares | Dec. 31, 2020 USD ($) $ / shares | Dec. 31, 2019 USD ($) | Dec. 31, 2022 € / shares | Sep. 30, 2020 USD ($) | |
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 | |||||||||||
Preferred stock, authorized (in shares) | shares | 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 | 34,000,000 | 0 | ||||||||||||||
Amount repurchased | $ | $ 662 | |||||||||||||||
Preferred stock, quarterly dividend declared | $ | $ 36 | $ 36 | ||||||||||||||
Common stock, quarterly dividend declared per common shares (in dollars per share) | $ / shares | $ 0.2775 | $ 0.52 | $ 1.11 | $ 2.08 | $ 2.08 | |||||||||||
Noncontrolling Interest [Line Items] | ||||||||||||||||
Redemption of nonconvertible cumulative preferred interests in subsidiary | $ | $ 2,665 | $ 0 | $ 1,950 | |||||||||||||
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 | ||||||||||||||
Tower Holdings | ||||||||||||||||
Noncontrolling Interest [Line Items] | ||||||||||||||||
Preferred interest issued | $ | $ 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 | |||||||||||||||
Initial preferred distribution percentage | 4.75% | |||||||||||||||
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 | |||||||||||||
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 | |||||||||||||
Amount outstanding (in shares) | shares | 144,000,000 | 144,000,000 | 144,000,000 | |||||||||||||
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 | |||||||||||
Preferred stock, liquidation preference per share (in dollars/Euros per share) | $ / shares | $ 25,000 | $ 25,000 | $ 25,000 | |||||||||||||
Preferred stock, dividend rate | 5% | |||||||||||||||
Noncontrolling Interest [Line Items] | ||||||||||||||||
Preferred stock, outstanding (in shares) | shares | 48,000 | 48,000 | 48,000 | 48,000 | 48,000 | |||||||||||
Preferred Stock – Series A | Mobility II, LLC | ||||||||||||||||
Noncontrolling Interest [Line Items] | ||||||||||||||||
Preferred interest, securities issued (in shares) | shares | 320,000,000 | |||||||||||||||
Preferred stock, dividend rate | 7% | |||||||||||||||
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 | $ | $ 5,340 | $ 5,340 | ||||||||||||||
Maximum shares of common stock required to deliver to settle put and redemption options (in shares) | shares | 250,000,000 | |||||||||||||||
Noncontrolling Interest, Preferred Stock, Shares Of Common Stock Settled To Put And Redemption Options | shares | 105,000,000 | |||||||||||||||
Redemption of nonconvertible cumulative preferred interests in subsidiary | $ | $ 2,600 | |||||||||||||||
Noncontrolling Interest, Preferred Stock, Shares Outstanding | shares | 213,000,000 | 213,000,000 | 213,000,000 | 213,000,000 | ||||||||||||
Noncontrolling Interest, Preferred Stock, Shares Of Common Stock That Can Be Exercised To Put Or Redemption Options In Any 12 Month Period | shares | 107,000,000 | |||||||||||||||
Noncontrolling Interest, Preferred Stock, Shares Of Common Stock That Can Be Exercised To Put Or Redemption Options In Any 12 Month Period, Value | $ | $ 2,670 | |||||||||||||||
Preferred interest distributions | $ | 373 | |||||||||||||||
Preferred Stock – Series A | Mobility II, LLC | Accounts payable and accrued liabilities | ||||||||||||||||
Noncontrolling Interest [Line Items] | ||||||||||||||||
Redemption of nonconvertible cumulative preferred interests in subsidiary | $ | $ 2,670 | |||||||||||||||
Preferred Stock – Series A | Mobility II, LLC | Other Noncurrent Liabilities | ||||||||||||||||
Noncontrolling Interest [Line Items] | ||||||||||||||||
Redemption of nonconvertible cumulative preferred interests in subsidiary | $ | 2,670 | |||||||||||||||
Preferred Stock – Series A | Forecast | Mobility II, LLC | ||||||||||||||||
Noncontrolling Interest [Line Items] | ||||||||||||||||
Redemption of nonconvertible cumulative preferred interests in subsidiary | $ | $ 2,670 | $ 2,670 | ||||||||||||||
Class A-1 | Tower Holdings | ||||||||||||||||
Noncontrolling Interest [Line Items] | ||||||||||||||||
Preferred interest issued | $ | $ 1,500 | |||||||||||||||
Initial preferred distribution percentage | 5% | |||||||||||||||
Class A-2 | Tower Holdings | ||||||||||||||||
Noncontrolling Interest [Line Items] | ||||||||||||||||
Preferred interest issued | $ | $ 4,500 | $ 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 | |||||||||||
Preferred stock, liquidation preference per share (in dollars/Euros per share) | € / shares | € 100,000 | |||||||||||||||
Preferred stock, dividend rate | 2.875% | |||||||||||||||
Noncontrolling Interest [Line Items] | ||||||||||||||||
Preferred stock, outstanding (in shares) | shares | 20,000 | 20,000 | 20,000 | 20,000 | 20,000 | |||||||||||
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 | |||||||||||
Preferred stock, liquidation preference per share (in dollars/Euros per share) | $ / shares | $ 25,000 | $ 25,000 | $ 25,000 | |||||||||||||
Preferred stock, dividend rate | 4.75% | |||||||||||||||
Noncontrolling Interest [Line Items] | ||||||||||||||||
Preferred stock, outstanding (in shares) | shares | 70,000 | 70,000 | 70,000 | 70,000 | 70,000 |
Sales Of Receivables (Summary o
Sales Of Receivables (Summary of Receivables Sold) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Net cash received (paid) from equipment installment receivables | $ 2,495 | $ 705 | $ (1,270) |
Equipment Installment | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Net cash received (paid) from equipment installment receivables | 1,875 | 1,000 | (1,565) |
Cash proceeds received | 11,129 | 9,740 | 6,089 |
Other Sales of Receivables | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Net cash received (paid) from equipment installment receivables | $ 620 | $ (295) | $ 295 |
Sales Of Receivables (Equipment
Sales Of Receivables (Equipment Installment and AT&T Revolving Programs) (Details) - Equipment Installment - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Gross receivables | $ 4,165 | $ 4,361 |
Other Assets | 1,854 | 1,909 |
Outstanding portfolio of receivables derecognized from our consolidated balance sheets | 11,030 | 9,767 |
Cash proceeds received, net of remittances | 8,519 | 6,644 |
Notes receivable | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Accounts receivable | 1,789 | 1,846 |
Trade receivables | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Accounts receivable | $ 522 | $ 606 |
Sales Of Receivables (Finance R
Sales Of Receivables (Finance Receivables) (Details) - Equipment Installment - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Gross receivables sold | $ 11,510 | $ 10,793 | $ 7,270 |
Net receivables sold | 11,061 | 10,502 | 7,026 |
Cash proceeds received | 11,129 | 9,740 | 6,089 |
Deferred purchase price recorded | 245 | 1,080 | 1,021 |
Guarantee obligation recorded | $ 703 | $ 434 | $ 157 |
Sales Of Receivables (Finance_2
Sales Of Receivables (Finance Receivables Repurchased) (Details) - Equipment Installment - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Fair value of repurchased receivables | $ 3,314 | $ 1,424 | $ 1,271 |
Carrying value of deferred purchase price | 3,335 | 1,334 | 1,235 |
Gain on repurchases | $ (21) | $ 90 | $ 36 |
Sales Of Receivables (Equipme_2
Sales Of Receivables (Equipment Installment and AT&T Revolving Programs) (Narrative) (Details) - Equipment Installment Program - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Guarantee Obligation | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Guarantee obligation | $ 419 | $ 371 |
Accounts payable and accrued liabilities | Guarantee Obligation | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Guarantee obligation | 73 | 101 |
Deferred Purchase Price Receivables | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Deferred purchase price receivable | 2,318 | 3,177 |
Deferred Purchase Price Receivables | Prepaid and other current assets | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Deferred purchase price receivable | $ 1,278 | $ 2,123 |
Tower Transaction (Narrative) (
Tower Transaction (Narrative) (Details) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 USD ($) tower | Dec. 31, 2021 USD ($) | Dec. 31, 2020 USD ($) | |
Other Liabilities [Line Items] | |||
Balance of tower assets | $ 127,445 | $ 121,649 | $ 121,104 |
Depreciation expense | $ 17,852 | 17,634 | 19,028 |
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 | ||
Approximate annual interest rate - financing obligation | 3.90% | ||
Balance of tower assets | $ 686 | 725 | |
Depreciation expense | 39 | $ 39 | $ 39 |
Lease payments | 258 | ||
Minimum lease payments - 2023 | 264 | ||
Minimum lease payments - 2024 | 269 | ||
Minimum lease payments - 2025 | 274 | ||
Minimum lease payments - 2026 | 280 | ||
Minimum lease payments - 2027 | 285 | ||
Minimum lease payments - thereafter | $ 421 |
Transactions With DIRECTV (Deta
Transactions With DIRECTV (Details) - USD ($) $ in Millions | 5 Months Ended | 12 Months Ended | ||||
Jul. 31, 2021 | Dec. 31, 2021 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Sep. 30, 2021 | |
Related Party Transaction [Line Items] | ||||||
Equity in net income of affiliates | $ 1,791 | $ 603 | $ 89 | |||
Distributions from equity method investment | 1,815 | 701 | ||||
Investments in Equity Method Investees | $ 6,168 | 3,533 | 6,168 | 742 | ||
Proceeds from (Repayments of) Related Party Debt | 1,211 | (1,341) | $ 0 | |||
Notes Payable, Related Parties | 1,800 | |||||
DIRECTV | ||||||
Related Party Transaction [Line Items] | ||||||
Distributions from equity method investment | 2,649 | 1,323 | ||||
Investments in Equity Method Investees | 2,911 | |||||
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 | ||||
Proceeds from (Repayments of) Related Party Debt | 1,211 | |||||
Notes Payable, Related Parties | $ 130 | |||||
Network Transport For Products and Sales Services Under Commercial Arrangements Period | 5 years | |||||
Operational Support Services Agreement Period | 3 years | |||||
Operating Costs and Expenses | 737 | |||||
Accounts Receivable, Related Parties | $ 360 | |||||
Accounts Payable, Related Parties | 120 | |||||
DIRECTV | Equity Method Investee [Member] | ||||||
Related Party Transaction [Line Items] | ||||||
Equity in net income of affiliates | 1,808 | 619 | ||||
Distributions from equity method investment | 4,457 | 1,942 | ||||
Investments in Equity Method Investees | 5,539 | 2,911 | $ 5,539 | |||
Related Party Costs | $ 1,260 | |||||
DIRECTV | Equity Method Investee [Member] | Operating Activities [Member] | ||||||
Related Party Transaction [Line Items] | ||||||
Distributions from equity method investment | 1,808 | |||||
DIRECTV | Equity Method Investee [Member] | Investing Activities [Member] | ||||||
Related Party Transaction [Line Items] | ||||||
Distributions from equity method investment | $ 2,649 |
FirstNet (Narrative) (Details)
FirstNet (Narrative) (Details) - FirstNet - Licensing Agreements $ in Millions | 12 Months Ended |
Dec. 31, 2022 USD ($) milestone | |
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 | 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 in 2027 | 1,665 |
Future sustainability payments due thereafter | $ 13,365 |
Number of operating capability milestones | milestone | 6 |
Refunds received under contract | $ 6,120 |
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, 2022 USD ($) |
Commitments and Contingencies Disclosure [Abstract] | |
Contractual purchase obligations for 2023 | $ 12,313 |
Contractual purchase obligations for 2024 and 2025 | 11,424 |
Contractual purchase obligations for 2026 and 2027 | 2,457 |
Contractual purchase obligations for total years thereafter | $ 821 |
Additional Financial Informat_3
Additional Financial Information (Consolidated Balance Sheets) (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 |
Accounts payable and accrued liabilities: | ||
Accounts payable | $ 31,101 | $ 29,511 |
Accrued payroll and commissions | 1,605 | 2,082 |
Current portion of employee benefit obligation | 1,173 | 1,234 |
Current portion of Mobility preferred interests | 2,670 | 0 |
Accrued interest | 2,160 | 2,438 |
Accrued taxes | 798 | 1,148 |
Other | 3,137 | 2,682 |
Total accounts payable and accrued liabilities | $ 42,644 | $ 39,095 |
Additional Financial Informat_4
Additional Financial Information (Consolidated Statements Of Income) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Additional Financial Information [Line Items] | |||
Advertising expense | $ 2,462 | $ 2,732 | $ 2,705 |
Interest expense incurred | 7,402 | 7,670 | 7,850 |
Total interest expense | 6,108 | 6,716 | 7,727 |
Capital Expenditures | |||
Additional Financial Information [Line Items] | |||
Capitalized interest | (174) | (173) | (123) |
Spectrum Licenses | |||
Additional Financial Information [Line Items] | |||
Capitalized interest | $ (1,120) | $ (781) | $ 0 |
Additional Financial Informat_5
Additional Financial Information (Cash and Cash Equivalents and Restricted Cash) (Details) - USD ($) $ in Millions | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Cash and Cash Equivalents and Restricted Cash | ||||
Cash and cash equivalents | $ 3,701 | $ 19,223 | $ 7,924 | $ 9,702 |
Cash and cash equivalents from discontinued operations | 0 | 1,946 | 1,816 | 2,428 |
Restricted cash in Prepaid and other current assets | 1 | 3 | 9 | 69 |
Restricted cash in Other Assets | 91 | 144 | 121 | 96 |
Cash and cash equivalents and restricted cash | $ 3,793 | $ 21,316 | $ 9,870 | $ 12,295 |
Additional Financial Informat_6
Additional Financial Information (Consolidated Statements Of Cash Flows) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Cash paid (received) during the year for: | |||
Interest | $ 7,772 | $ 7,485 | $ 8,010 |
Income taxes paid, net of refunds | 592 | 252 | 577 |
Capital Expenditures | 19,626 | 15,545 | 14,690 |
Interest during construction, capital expenditures | (1,294) | (954) | (123) |
Acquisitions | 10,200 | 25,453 | 1,625 |
Income Taxes Paid | 696 | 700 | 993 |
Business acquisition | |||
Cash paid (received) during the year for: | |||
Acquisitions | 0 | 0 | 12 |
Spectrum Licenses | |||
Cash paid (received) during the year for: | |||
Acquisitions | 9,080 | 24,672 | 1,613 |
Interest during construction, spectrum | 1,120 | 781 | 0 |
Property, Plant and Equipment | |||
Cash paid (received) during the year for: | |||
Capital Expenditures | 19,452 | 15,372 | 14,567 |
Interest during construction, capital expenditures | $ (174) | $ (173) | $ (123) |
Additional Financial Informat_7
Additional Financial Information (Narrative) (Details) $ in Millions | 12 Months Ended | |||
Dec. 31, 2022 USD ($) employee | Dec. 31, 2021 USD ($) | Dec. 31, 2020 USD ($) | Jan. 31, 2023 employee | |
Additional Financial Information [Line Items] | ||||
Debt maturing within one year | $ 6,929 | |||
Percentage of employees represented by CWA, IBEW, or other unions | 42% | |||
Subsequent Event | ||||
Additional Financial Information [Line Items] | ||||
Approximate number of persons employed at a point in time | employee | 160,700 | |||
Contract Covering Employees in 9 States | Communications | Mobility | ||||
Additional Financial Information [Line Items] | ||||
Number of employees under contracts where union may call a work stoppage | employee | 7,000 | |||
Nationwide Corporate Employees | Communications | Wireline | ||||
Additional Financial Information [Line Items] | ||||
Number of employees under contracts where union may call a work stoppage | employee | 400 | |||
Contract Covering Employees In Illinois | Communications | Mobility | ||||
Additional Financial Information [Line Items] | ||||
Number of employees under contracts where union may call a work stoppage | employee | 200 | |||
Vendor Financing Program | ||||
Additional Financial Information [Line Items] | ||||
Noncash investing activities | $ 5,817 | $ 5,282 | $ 4,664 | |
Vendor financing payables | 6,147 | |||
Accounts payable and accrued liabilities | Vendor Financing Program | ||||
Additional Financial Information [Line Items] | ||||
Debt maturing within one year | $ 4,592 | |||
Accounts payable and accrued liabilities | Vendor Financing Program | Minimum | ||||
Additional Financial Information [Line Items] | ||||
Long-term Debt, Maturities, Repayment Terms | one year | |||
Other Noncurrent Liabilities | Vendor Financing Program | ||||
Additional Financial Information [Line Items] | ||||
Debt maturing within five years | $ 1,555 | |||
Other Noncurrent Liabilities | Vendor Financing Program | Maximum | ||||
Additional Financial Information [Line Items] | ||||
Long-term Debt, Maturities, Repayment Terms | five years |
Discontinued Operations and D_3
Discontinued Operations and Disposal Groups (Details) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | Jun. 30, 2022 | |
Operating Expenses | ||||
Net loss from discontinued operations | $ (181) | $ (2,297) | $ (2,299) | |
Goodwill impairment | 24,812 | |||
Assets | ||||
Current assets | 0 | 119,776 | ||
Liabilities [Abstract] | ||||
Current liabilities | 0 | 33,555 | ||
Discontinued Operations | ||||
Disposal Group, Including Discontinued Operation, Income Statement Disclosures [Abstract] | ||||
Revenues | 9,454 | 34,826 | 28,710 | |
Operating Expenses | ||||
Cost of revenues | 5,481 | 19,400 | 14,269 | |
Selling, general and administrative | 2,791 | 8,275 | 7,222 | |
Asset abandonments and impairments | 0 | 4,691 | 3,193 | |
Depreciation and amortization | 1,172 | 5,010 | 5,993 | |
Total operating expenses | 9,444 | 37,376 | 30,677 | |
Interest expense | 131 | 168 | 198 | |
Equity in net income (loss) of affiliates | (27) | 28 | 6 | |
Other income (expense) — net | (87) | 466 | (343) | |
Total other income (expense) | (245) | 326 | (535) | |
Net loss before income taxes | (235) | (2,224) | (2,502) | |
Income tax expense (benefit) | (54) | 73 | (203) | |
Net loss from discontinued operations | $ (181) | (2,297) | (2,299) | |
Assets | ||||
Current assets | 9,005 | |||
Noncurrent Inventories and Theatrical Film and Television Production Costs | 18,983 | |||
Property, Plant and Equipment — Net | 4,255 | |||
Goodwill | 40,484 | |||
Other Intangibles — Net | 40,273 | |||
Other Assets | 6,776 | |||
Total Assets, discontinued operations | 119,776 | |||
Liabilities [Abstract] | ||||
Current liabilities | 12,912 | |||
Other liabilities | 20,643 | |||
Total Liabilities, discontinued operations | 33,555 | |||
Discontinued Operations | Vrio | ||||
Operating Expenses | ||||
Asset Impairment Charges | 4,555 | |||
Goodwill impairment | 2,200 | |||
Discontinued Operations | WarnerMedia | ||||
Assets | ||||
Total Assets, discontinued operations | $ 121,100 | |||
Liabilities [Abstract] | ||||
Total Liabilities, discontinued operations | $ 70,600 | |||
Discontinued Operations | Playdemic Ltd | ||||
Operating Expenses | ||||
Gain (Loss) on Disposition of Business | $ 706 | |||
Broadcast, programming and operations | Discontinued Operations | WarnerMedia | ||||
Operating Expenses | ||||
Asset Impairment Charges | $ 1,000 |
Discontinued Operations and D_4
Discontinued Operations and Disposal Groups (Narrative) (Details) - USD ($) $ in Millions | 1 Months Ended | 12 Months Ended | |||
Mar. 31, 2022 | Dec. 31, 2022 | Apr. 08, 2022 | Apr. 07, 2022 | Dec. 31, 2021 | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||
Long-term debt obligations | $ 133,207 | $ 167,476 | |||
WarnerMedia | Spinoff | |||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||
Amount of transferred debt | $ 1,600 | ||||
Cash Held By WarnerMedia At The Respective Distributions | $ 2,660 | ||||
Senior Notes [Member] | WarnerMedia | |||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||
Notes Issued | $ 30,000 | ||||
Bridge Loan | WarnerMedia | |||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||
Amount outstanding | $ 10,000 | ||||
Long-term debt obligations | $ 41,600 | ||||
Spinco Term Loan [Member] | Bridge Loan | WarnerMedia | |||||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | |||||
Amount outstanding | $ 10,000 |
Quarterly Financial Informati_3
Quarterly Financial Information (Details) - USD ($) $ / shares in Units, $ in Millions | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2022 | Sep. 30, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | Dec. 31, 2021 | Sep. 30, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Quarterly Financial Information Disclosure [Abstract] | |||||||||||
Total operating revenues | $ 31,343 | $ 30,043 | $ 29,643 | $ 29,712 | $ 31,095 | $ 31,326 | $ 35,740 | $ 35,877 | $ 120,741 | $ 134,038 | $ 143,050 |
AT&T Operating Income (Loss) | (21,092) | 6,012 | 4,956 | 5,537 | 4,894 | 6,237 | 7,572 | 7,194 | (4,587) | 25,897 | 8,372 |
Income (Loss) from Continuing Operations | (23,120) | 6,346 | 4,751 | 5,149 | 5,202 | 5,019 | 5,969 | 7,586 | (6,874) | 23,776 | (1,522) |
Net Income (Loss) from Continuing Operations Attributable to Common Stock | $ (23,536) | $ 5,924 | $ 4,319 | $ 4,747 | $ 4,802 | $ 4,613 | $ 5,526 | $ 7,143 | $ (8,546) | $ 22,084 | $ (3,185) |
Basic Earnings Per Share, Attributable to Common Stock from Continuing Operations | $ (3.20) | $ 0.82 | $ 0.60 | $ 0.66 | $ 0.67 | $ 0.64 | $ 0.77 | $ 0.99 | $ (1.10) | $ 3.07 | $ (0.45) |
Diluted Earnings Per Share, Attributable to Common Stock from Continuing Operations | $ (3.20) | $ 0.79 | $ 0.59 | $ 0.65 | $ 0.66 | $ 0.63 | $ 0.76 | $ 0.97 | $ (1.10) | $ 3.02 | $ (0.45) |
Valuation And Qualifying Accoun
Valuation And Qualifying Accounts (Allowance For Doubtful Accounts) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Allowance for Credit Loss | |||
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward] | |||
Balance at Beginning of Period | $ 1,163 | $ 1,457 | $ 1,150 |
Charged to Costs and Expenses | 1,865 | 1,241 | 1,798 |
Charged to Other Accounts | 0 | 0 | 405 |
Acquisitions | 0 | 0 | 0 |
Deductions | 2,017 | 1,535 | 1,896 |
Balance at End of Period | 1,011 | 1,163 | 1,457 |
Allowance for Deferred Tax Assets | |||
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward] | |||
Balance at Beginning of Period | 4,343 | 4,557 | 4,715 |
Charged to Costs and Expenses | (168) | (214) | (158) |
Charged to Other Accounts | 0 | 0 | 0 |
Acquisitions | 0 | 0 | 0 |
Deductions | 0 | 0 | 0 |
Balance at End of Period | $ 4,175 | $ 4,343 | $ 4,557 |