Document and Entity Information
Document and Entity Information - shares shares in Millions | 3 Months Ended | |
Mar. 31, 2023 | Apr. 25, 2023 | |
Entity Listings [Line Items] | ||
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Mar. 31, 2023 | |
Document Transition Report | false | |
Entity File Number | 001-8610 | |
Entity Registrant Name | AT&T INC. | |
Entity Incorporation, State or Country Code | DE | |
Entity Tax Identification Number | 43-1301883 | |
Entity Address, Address Line One | 208 S. Akard St. | |
Entity Address, City or Town | Dallas | |
Entity Address, State or Province | TX | |
Entity Address, Postal Zip Code | 75202 | |
City Area Code | 210 | |
Local Phone Number | 821-4105 | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Large Accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 7,149 | |
Amendment Flag | false | |
Document Fiscal Period Focus | Q1 | |
Document Fiscal Year Focus | 2023 | |
Current Fiscal Year End Date | --12-31 | |
Entity Central Index Key | 0000732717 | |
Common Shares (Par Value $1.00 Per Share) | ||
Entity Listings [Line Items] | ||
Title of 12(b) Security | Common Shares (Par Value $1.00 Per Share) | |
Trading Symbol | T | |
Security Exchange Name | NYSE | |
Depositary Shares, each representing a 1/1000th interest in a share of 5.000% Perpetual Preferred Stock, Series A | ||
Entity Listings [Line Items] | ||
Title of 12(b) Security | Depositary Shares, each representing a 1/1000th interest in ashare of 5.000% Perpetual Preferred Stock, Series A | |
Trading Symbol | T PRA | |
Security Exchange Name | NYSE | |
Depositary Shares, each representing a 1/1000th interest in a share of 4.750% Perpetual Preferred Stock, Series C | ||
Entity Listings [Line Items] | ||
Title of 12(b) Security | Depositary Shares, each representing a 1/1000th interest in ashare of 4.750% Perpetual Preferred Stock, Series C | |
Trading Symbol | T PRC | |
Security Exchange Name | NYSE | |
AT&T Inc. 2.500% 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. Floating Rate Global Notes due March 6, 2025 | ||
Entity Listings [Line Items] | ||
Title of 12(b) Security | AT&T Inc. Floating Rate Global Notes due March 6, 2025 | |
Trading Symbol | T 25A | |
Security Exchange Name | NYSE | |
AT&T Inc. 3.500% Global Notes due December 17, 2025 | ||
Entity Listings [Line Items] | ||
Title of 12(b) Security | AT&T Inc. 3.500% Global Notes due December 17, 2025 | |
Trading Symbol | T 25 | |
Security Exchange Name | NYSE | |
AT&T Inc. 0.250% Global Notes due March 4, 2026 | ||
Entity Listings [Line Items] | ||
Title of 12(b) Security | AT&T Inc. 0.250% Global Notes due March 4, 2026 | |
Trading Symbol | T 26E | |
Security Exchange Name | NYSE | |
AT&T Inc. 1.800% Global Notes due September 5, 2026 | ||
Entity Listings [Line Items] | ||
Title of 12(b) Security | AT&T Inc. 1.800% Global Notes due September 5, 2026 | |
Trading Symbol | T 26D | |
Security Exchange Name | NYSE | |
AT&T Inc. 2.900% Global Notes due December 4, 2026 | ||
Entity Listings [Line Items] | ||
Title of 12(b) Security | AT&T Inc. 2.900% Global Notes due December 4, 2026 | |
Trading Symbol | T 26A | |
Security Exchange Name | NYSE | |
AT&T Inc. 1.600% Global Notes due May 19, 2028 | ||
Entity Listings [Line Items] | ||
Title of 12(b) Security | AT&T Inc. 1.600% Global Notes due May 19, 2028 | |
Trading Symbol | T 28C | |
Security Exchange Name | NYSE | |
AT&T Inc. 2.350% Global Notes due September 5, 2029 | ||
Entity Listings [Line Items] | ||
Title of 12(b) Security | AT&T Inc. 2.350% Global Notes due September 5, 2029 | |
Trading Symbol | T 29D | |
Security Exchange Name | NYSE | |
AT&T Inc. 4.375% Global Notes due September 14, 2029 | ||
Entity Listings [Line Items] | ||
Title of 12(b) Security | AT&T Inc. 4.375% Global Notes due September 14, 2029 | |
Trading Symbol | T 29B | |
Security Exchange Name | NYSE | |
AT&T Inc. 2.600% Global Notes due December 17, 2029 | ||
Entity Listings [Line Items] | ||
Title of 12(b) Security | AT&T Inc. 2.600% Global Notes due December 17, 2029 | |
Trading Symbol | T 29A | |
Security Exchange Name | NYSE | |
AT&T Inc. 0.800% Global Notes due March 4, 2030 | ||
Entity Listings [Line Items] | ||
Title of 12(b) Security | AT&T Inc. 0.800% Global Notes due March 4, 2030 | |
Trading Symbol | T 30B | |
Security Exchange Name | NYSE | |
AT&T Inc. 2.050% Global Notes due May 19, 2032 | ||
Entity Listings [Line Items] | ||
Title of 12(b) Security | AT&T Inc. 2.050% Global Notes due May 19, 2032 | |
Trading Symbol | T 32A | |
Security Exchange Name | NYSE | |
AT&T Inc. 3.550% Global Notes due December 17, 2032 | ||
Entity Listings [Line Items] | ||
Title of 12(b) Security | AT&T Inc. 3.550% Global Notes due December 17, 2032 | |
Trading Symbol | T 32 | |
Security Exchange Name | NYSE | |
AT&T Inc. 5.200% Global Notes due November 18, 2033 | ||
Entity Listings [Line Items] | ||
Title of 12(b) Security | AT&T Inc. 5.200% Global Notes due November 18, 2033 | |
Trading Symbol | T 33 | |
Security Exchange Name | NYSE | |
AT&T Inc. 3.375% Global Notes due March 15, 2034 | ||
Entity Listings [Line Items] | ||
Title of 12(b) Security | AT&T Inc. 3.375% Global Notes due March 15, 2034 | |
Trading Symbol | T 34 | |
Security Exchange Name | NYSE | |
AT&T Inc. 2.450% Global Notes due March 15, 2035 | ||
Entity Listings [Line Items] | ||
Title of 12(b) Security | AT&T Inc. 2.450% Global Notes due March 15, 2035 | |
Trading Symbol | T 35 | |
Security Exchange Name | NYSE | |
AT&T Inc. 3.150% Global Notes due September 4, 2036 | ||
Entity Listings [Line Items] | ||
Title of 12(b) Security | AT&T Inc. 3.150% Global Notes due September 4, 2036 | |
Trading Symbol | T 36A | |
Security Exchange Name | NYSE | |
AT&T Inc. 2.600% Global Notes due May 19, 2038 | ||
Entity Listings [Line Items] | ||
Title of 12(b) Security | AT&T Inc. 2.600% Global Notes due May 19, 2038 | |
Trading Symbol | T 38C | |
Security Exchange Name | NYSE | |
AT&T Inc. 1.800% Global Notes due September 14, 2039 | ||
Entity Listings [Line Items] | ||
Title of 12(b) Security | AT&T Inc. 1.800% Global Notes due September 14, 2039 | |
Trading Symbol | T 39B | |
Security Exchange Name | NYSE | |
AT&T Inc. 7.000% Global Notes due April 30, 2040 | ||
Entity Listings [Line Items] | ||
Title of 12(b) Security | AT&T Inc. 7.000% Global Notes due April 30, 2040 | |
Trading Symbol | T 40 | |
Security Exchange Name | NYSE | |
AT&T Inc. 4.250% Global Notes due June 1, 2043 | ||
Entity Listings [Line Items] | ||
Title of 12(b) Security | AT&T Inc. 4.250% Global Notes due June 1, 2043 | |
Trading Symbol | T 43 | |
Security Exchange Name | NYSE | |
AT&T Inc. 4.875% Global Notes due June 1, 2044 | ||
Entity Listings [Line Items] | ||
Title of 12(b) Security | AT&T Inc. 4.875% Global Notes due June 1, 2044 | |
Trading Symbol | T 44 | |
Security Exchange Name | NYSE | |
AT&T Inc. 4.000% Global Notes due June 1, 2049 | ||
Entity Listings [Line Items] | ||
Title of 12(b) Security | AT&T Inc. 4.000% Global Notes due June 1, 2049 | |
Trading Symbol | T 49A | |
Security Exchange Name | NYSE | |
AT&T Inc. 4.250% Global Notes due March 1, 2050 | ||
Entity Listings [Line Items] | ||
Title of 12(b) Security | AT&T Inc. 4.250% Global Notes due March 1, 2050 | |
Trading Symbol | T 50 | |
Security Exchange Name | NYSE | |
AT&T Inc. 3.750% Global Notes due September 1, 2050 | ||
Entity Listings [Line Items] | ||
Title of 12(b) Security | AT&T Inc. 3.750% Global Notes due September 1, 2050 | |
Trading Symbol | T 50A | |
Security Exchange Name | NYSE | |
AT&T Inc. 5.350% Global Notes due November 1, 2066 | ||
Entity Listings [Line Items] | ||
Title of 12(b) Security | AT&T Inc. 5.350% Global Notes due November 1, 2066 | |
Trading Symbol | TBB | |
Security Exchange Name | NYSE | |
AT&T Inc. 5.625% Global Notes due August 1, 2067 | ||
Entity Listings [Line Items] | ||
Title of 12(b) Security | AT&T Inc. 5.625% Global Notes due August 1, 2067 | |
Trading Symbol | TBC | |
Security Exchange Name | NYSE |
Consolidated Statements Of Inco
Consolidated Statements Of Income - USD ($) shares in Millions, $ in Millions | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Operating Revenues | ||
Total operating revenues | $ 30,139 | $ 29,712 |
Cost of revenues | ||
Other cost of revenues (exclusive of depreciation and amortization shown separately below) | 6,673 | 6,699 |
Selling, general and administrative | 7,175 | 6,978 |
Depreciation and amortization | 4,631 | 4,462 |
Total operating expenses | 24,137 | 24,175 |
Operating Income | 6,002 | 5,537 |
Other Income (Expense) | ||
Interest expense | (1,708) | (1,626) |
Equity in net income of affiliates | 538 | 521 |
Other income (expense) — net | 935 | 2,157 |
Total other income (expense) | (235) | 1,052 |
Income from Continuing Operations Before Income Taxes | 5,767 | 6,589 |
Income tax expense on continuing operations | 1,314 | 1,440 |
Income from Continuing Operations | 4,453 | 5,149 |
Income from discontinued operations, net of tax | 0 | 15 |
Net Income | 4,453 | 5,164 |
Less: Net Income Attributable to Noncontrolling Interest | (225) | (354) |
Net Income Attributable to AT&T | 4,228 | 4,810 |
Less: Preferred Stock Dividends | (52) | (48) |
Net Income Attributable to Common Stock | $ 4,176 | $ 4,762 |
Basic Earnings Per Share from continuing operations | $ 0.58 | $ 0.66 |
Basic Earnings Per Share from discontinued operations | 0 | 0 |
Basic Earnings Per Share Attributable to Common Stock (in dollars per share) | 0.58 | 0.66 |
Diluted Earnings Per Share from continuing operations | 0.57 | 0.65 |
Diluted Earnings Per Share from discontinued operations | 0 | 0 |
Diluted Earnings Per Share Attributable to Common Stock (in dollars per share) | $ 0.57 | $ 0.65 |
Weighted Average Number of Common Shares Outstanding - Basic (in millions) (in shares) | 7,168 | 7,184 |
Weighted Average Number of Common Shares Outstanding - with Dilution (in millions) (in shares) | 7,474 | 7,556 |
Service | ||
Operating Revenues | ||
Total operating revenues | $ 24,617 | $ 23,999 |
Equipment | ||
Operating Revenues | ||
Total operating revenues | 5,522 | 5,713 |
Cost of revenues | ||
Cost of goods and services sold | $ 5,658 | $ 6,036 |
Consolidated Statements Of Comp
Consolidated Statements Of Comprehensive Income - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Statement of Comprehensive Income [Abstract] | ||
Net income | $ 4,453 | $ 5,164 |
Foreign currency: | ||
Translation adjustment, net of taxes of $52 and $5 | 193 | 19 |
Securities: | ||
Net unrealized gains (losses), net of taxes of $8 and $(23) | 23 | (69) |
Reclassification adjustment included in net income, net of taxes of $1 and $1 | 3 | 3 |
Derivative instruments: | ||
Net unrealized gains (losses), net of taxes of $(43) and $69 | (152) | 258 |
Reclassification adjustment included in net income, net of taxes of $3 and $4 | 12 | 15 |
Defined benefit postretirement plans: | ||
Amortization of net prior service credit included in net income, net of taxes of $(160) and $(152) | (491) | (465) |
Other comprehensive income (loss) | (412) | (239) |
Total comprehensive income | 4,041 | 4,925 |
Less: Total comprehensive income attributable to noncontrolling interest | (225) | (354) |
Total Comprehensive Income Attributable to AT&T | $ 3,816 | $ 4,571 |
Consolidated Statements of Co_2
Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Statement of Comprehensive Income [Abstract] | ||
Foreign currency translation adjustments - tax effect | $ 52 | $ 5 |
Net unrealized gains (losses), net of taxes of $8 and $(23) | 8 | (23) |
Reclassification adjustment included in net income, net of taxes of $1 and $1 | 1 | 1 |
Net unrealized gains (losses), net of taxes of $(43) and $69 | (43) | 69 |
Reclassification adjustment included in net income, net of taxes of $3 and $4 | 3 | 4 |
Amortization of net prior service credit included in net income, net of taxes of $(160) and $(152) | $ (160) | $ (152) |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Millions | Mar. 31, 2023 | Dec. 31, 2022 |
Current Assets | ||
Cash and cash equivalents | $ 2,821 | $ 3,701 |
Accounts receivable – net of related allowances for credit loss of $619 and $588 | 10,214 | 11,466 |
Inventories | 2,791 | 3,123 |
Prepaid and other current assets | 14,077 | 14,818 |
Total current assets | 29,903 | 33,108 |
Property, plant and equipment | 330,486 | 329,630 |
Less: accumulated depreciation and amortization | (202,028) | (202,185) |
Property, Plant and Equipment – Net | 128,458 | 127,445 |
Goodwill – Net | 67,895 | 67,895 |
Licenses – Net | 124,502 | 124,092 |
Other Intangible Assets – Net | 5,346 | 5,354 |
Investments in and Advances to Equity Affiliates | 2,810 | 3,533 |
Operating Lease Right-Of-Use Assets | 21,619 | 21,814 |
Other Assets | 20,340 | 19,612 |
Total Assets | 400,873 | 402,853 |
Current Liabilities | ||
Debt maturing within one year | 13,757 | 7,467 |
Note payable to DIRECTV | 0 | 130 |
Accounts payable and accrued liabilities | 38,389 | 42,644 |
Advanced billings and customer deposits | 3,922 | 3,918 |
Dividends payable | 2,082 | 2,014 |
Total current liabilities | 58,150 | 56,173 |
Long-Term Debt | 123,727 | 128,423 |
Deferred Credits and Other Noncurrent Liabilities | ||
Deferred income taxes | 57,294 | 57,032 |
Postemployment benefit obligation | 7,060 | 7,260 |
Operating lease liabilities | 18,413 | 18,659 |
Other noncurrent liabilities | 27,883 | 28,849 |
Total deferred credits and other noncurrent liabilities | 110,650 | 111,800 |
Stockholders’ Equity | ||
Common stock ($1 par value, 14,000,000,000 authorized at March 31, 2023 and December 31, 2022: issued 7,620,748,598 at March 31, 2023 and December 31, 2022) | 7,621 | 7,621 |
Additional paid-in capital | 120,774 | 123,610 |
Retained (deficit) earnings | (15,187) | (19,415) |
Treasury stock (471,514,050 at March 31, 2023 and 493,156,816 at December 31, 2022, at cost) | (16,166) | (17,082) |
Accumulated other comprehensive income | 2,354 | 2,766 |
Noncontrolling interest | 8,950 | 8,957 |
Total stockholders’ equity | 108,346 | 106,457 |
Total Liabilities and Stockholders’ Equity | 400,873 | 402,853 |
Series A (48,000 issued and outstanding at March 31, 2023 and December 31, 2022) | ||
Stockholders’ Equity | ||
Preferred stock ($1 par value, 10,000,000 authorized at March 31, 2023 and December 31, 2022): | 0 | 0 |
Series B (20,000 issued and outstanding at March 31, 2023 and December 31, 2022) | ||
Stockholders’ Equity | ||
Preferred stock ($1 par value, 10,000,000 authorized at March 31, 2023 and December 31, 2022): | 0 | 0 |
Series C (70,000 issued and outstanding at March 31, 2023 and December 31, 2022) | ||
Stockholders’ Equity | ||
Preferred stock ($1 par value, 10,000,000 authorized at March 31, 2023 and December 31, 2022): | $ 0 | $ 0 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions | Mar. 31, 2023 | Dec. 31, 2022 |
Allowances for doubtful accounts | $ 619 | $ 588 |
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) | 471,514,050 | 493,156,816 |
Preferred Stock - Series A | ||
Preferred stock, issued (in shares) | 48,000 | 48,000 |
Preferred stock, outstanding (in shares) | 48,000 | 48,000 |
Preferred Stock - Series B | ||
Preferred stock, issued (in shares) | 20,000 | 20,000 |
Preferred stock, outstanding (in shares) | 20,000 | 20,000 |
Preferred Stock - Series C | ||
Preferred stock, issued (in shares) | 70,000 | 70,000 |
Preferred stock, outstanding (in shares) | 70,000 | 70,000 |
Consolidated Statements Of Cash
Consolidated Statements Of Cash Flows - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Operating Activities | ||
Income from Continuing Operations | $ 4,453 | $ 5,149 |
Adjustments to reconcile income from continuing operations to net cash provided by operating activities from continuing operations: | ||
Depreciation and amortization | 4,631 | 4,462 |
Provision for uncollectible accounts | 477 | 430 |
Deferred income tax expense | 529 | 1,150 |
Net (gain) loss on investments, net of impairments | (93) | 87 |
Pension and postretirement benefit expense (credit) | (670) | (940) |
Actuarial (gain) loss on pension and postretirement benefits | 0 | (1,053) |
Changes in operating assets and liabilities: | ||
Receivables | 620 | 864 |
Other current assets | 364 | 244 |
Accounts payable and other accrued liabilities | (3,409) | (2,651) |
Equipment installment receivables and related sales | (243) | 541 |
Deferred customer contract acquisition and fulfillment costs | (22) | (259) |
Postretirement claims and contributions | (89) | (97) |
Other - net | 130 | (297) |
Total adjustments | 2,225 | 2,481 |
Net Cash Provided by Operating Activities from Continuing Operations | 6,678 | 7,630 |
Investing Activities | ||
Capital expenditures | (4,335) | (4,568) |
Acquisitions, net of cash acquired | (291) | (9,244) |
Dispositions | 15 | 7 |
Distributions from DIRECTV in excess of cumulative equity in earnings | 774 | 1,315 |
Other - net | 19 | 32 |
Net Cash Used in Investing Activities from Continuing Operations | (3,818) | (12,458) |
Financing Activities | ||
Net change in short-term borrowings with original maturities of three months or less | (536) | 2,285 |
Issuance of other short-term borrowings | 3,627 | 2,593 |
Repayment of other short-term borrowings | 0 | (3,407) |
Issuance of long-term debt | 3,366 | 479 |
Repayment of long-term debt | (5,945) | (790) |
Repayment of note payable to DIRECTV | (130) | (294) |
Payment of vendor financing | (2,113) | (1,566) |
Purchase of treasury stock | (188) | (197) |
Issuance of treasury stock | 3 | 26 |
Dividends paid | (2,014) | (3,749) |
Other - net | 219 | (930) |
Net Cash Used in Financing Activities from Continuing Operations | (3,711) | (5,550) |
Net decrease in cash and cash equivalents and restricted cash from continuing operations | (851) | (10,378) |
Net Cash Provided by (Used in) Discontinued Operations [Abstract] | ||
Cash (used in) provided by operating activities | 0 | (1,898) |
Cash provided by (used in) investing activities | 0 | (193) |
Cash provided by (used in) financing activities | 0 | 29,801 |
Net increase (decrease) in cash and cash equivalents and restricted cash from discontinued operations | 0 | 27,710 |
Net (decrease) increase in cash and cash equivalents and restricted cash | (851) | 17,332 |
Cash and cash equivalents and restricted cash beginning of year | 3,793 | 21,316 |
Cash and Cash Equivalents and Restricted Cash End of Period | $ 2,942 | $ 38,648 |
Consolidated Statement Of Chang
Consolidated Statement 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 | Retained (Deficit) Earnings | Treasury Stock | Accumulated Other Comprehensive Income Attributable to AT&T, net of tax | Noncontrolling Interest |
Balance at beginning of period at Dec. 31, 2021 | $ 183,855 | $ 0 | $ 0 | $ 0 | $ 7,621 | $ 130,112 | $ 42,350 | $ (17,280) | $ 3,529 | $ 17,523 |
Balance at beginning of period (in shares) at Dec. 31, 2021 | 0 | 0 | 0 | 7,621 | (480) | |||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||||
Repurchase and acquisition of common stock | $ (197) | |||||||||
Repurchase and acquisition of common stock (in shares) | (8) | |||||||||
Issuance/reissuance of treasury stock | (126) | $ (924) | ||||||||
Issuance/reissuance of treasury stock (in shares) | 26 | |||||||||
Share-based payments | (349) | |||||||||
Net income attributable to AT&T | 4,810 | 4,810 | ||||||||
Preferred stock dividends | 0 | (99) | ||||||||
Dividends, Common Stock, Cash | 0 | (2,020) | ||||||||
Other comprehensive income attributable to AT&T | (239) | (239) | ||||||||
Net income attributable to noncontrolling interest | 354 | 354 | ||||||||
Noncontrolling Interest, Decrease from Redemptions or Purchase of Interests | (16) | |||||||||
Distributions | (341) | |||||||||
Balance at end of period at Mar. 31, 2022 | 186,556 | $ 0 | $ 0 | $ 0 | $ 7,621 | 129,637 | 45,041 | $ (16,553) | 3,290 | 17,520 |
Balance at end of period (in shares) at Mar. 31, 2022 | 0 | 0 | 0 | 7,621 | (462) | |||||
Balance at beginning of period at Dec. 31, 2022 | 106,457 | $ 0 | $ 0 | $ 0 | $ 7,621 | 123,610 | (19,415) | $ (17,082) | 2,766 | 8,957 |
Balance at beginning of period (in shares) at Dec. 31, 2022 | 0 | 0 | 0 | 7,621 | (493) | |||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||||
Repurchase and acquisition of common stock | $ (188) | |||||||||
Repurchase and acquisition of common stock (in shares) | (10) | |||||||||
Issuance/reissuance of treasury stock | (365) | $ (1,104) | ||||||||
Issuance/reissuance of treasury stock (in shares) | 31 | |||||||||
Share-based payments | (371) | |||||||||
Net income attributable to AT&T | 4,228 | 4,228 | ||||||||
Preferred stock dividends | (98) | 0 | ||||||||
Dividends, Common Stock, Cash | (2,002) | 0 | ||||||||
Other comprehensive income attributable to AT&T | (412) | (412) | ||||||||
Net income attributable to noncontrolling interest | 225 | 225 | ||||||||
Noncontrolling Interest, Decrease from Redemptions or Purchase of Interests | 0 | |||||||||
Distributions | (232) | |||||||||
Balance at end of period at Mar. 31, 2023 | $ 108,346 | $ 0 | $ 0 | $ 0 | $ 7,621 | $ 120,774 | $ (15,187) | $ (16,166) | $ 2,354 | $ 8,950 |
Balance at end of period (in shares) at Mar. 31, 2023 | 0 | 0 | 0 | 7,621 | (472) |
Consolidated Statement Of Cha_2
Consolidated Statement Of Changes In Stockholders' Equity (Parenthetical) - $ / shares | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Statement of Stockholders' Equity [Abstract] | ||
Dividends to stockholders, per share (in dollars per share) | $ 0.2775 | $ 0.2775 |
Preparation Of Interim Financia
Preparation Of Interim Financial Statements | 3 Months Ended |
Mar. 31, 2023 | |
Accounting Policies [Abstract] | |
Preparation Of Interim Financial Statements | NOTE 1. PREPARATION OF INTERIM FINANCIAL STATEMENTS Basis of Presentation Throughout this document, AT&T Inc. is referred to as “we,” “AT&T” or the “Company.” The consolidated financial statements include the accounts of the Company and subsidiaries and affiliates which we control. AT&T is a holding company whose subsidiaries and affiliates operate worldwide in the telecommunications and technology industries. You should read this document in conjunction with the consolidated financial statements and accompanying notes included in our Annual Report on Form 10-K for the year ended December 31, 2022. The results for the interim periods are not necessarily indicative of those for the full year. These consolidated financial statements include all adjustments that are necessary to present fairly the results for the presented interim periods, consisting of normal recurring accruals and other items. All significant intercompany transactions are eliminated in the consolidation process. Investments in subsidiaries and partnerships which we do not control but have significant influence are accounted for under the equity method. Earnings from certain investments accounted for using the equity method are included 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. The preparation of financial statements in conformity with U.S. generally accepted accounting principles (GAAP) requires management to make estimates and assumptions, including 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. Certain prior period amounts have been conformed to the current period’s presentation. Unless otherwise noted, the information in Notes 1 through 13 refer only to our continuing operations and do not include discussion of balances or activity of WarnerMedia, Vrio, Xandr and Playdemic Ltd., which were part of discontinued operations. Accounting Policies, Adopted and Pending Accounting Standards and Other Changes Supplier Finance Obligations As of January 1, 2023, we adopted, with retrospective application, the Financial Accounting Standards Board’s (FASB) Accounting Standards Update (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. The annual rollforward requirement becomes effective for annual periods beginning after December 15, 2023, with prospective application. The standard allows early adoption of this requirement. In the year of adoption, the disclosure of payment and other key terms under the programs and outstanding balances under the obligations also applies to interim reporting dates. |
Earnings Per Share
Earnings Per Share | 3 Months Ended |
Mar. 31, 2023 | |
Earnings Per Share [Abstract] | |
Earnings Per Share | NOTE 2. EARNINGS PER SHARE A reconciliation of the numerators and denominators of basic and diluted earnings per share for the three months ended March 31, 2023 and 2022, is shown in the table below: Three months ended March 31, 2023 2022 Numerators Numerator for basic earnings per share: Income from continuing operations, net of tax $ 4,453 $ 5,149 Net income from continuing operations attributable to noncontrolling interests (225) (354) Preferred Stock Dividends (52) (48) Income from continuing operations attributable to common stock 4,176 4,747 Income from discontinued operations attributable to common stock — 15 Net Income Attributable to Common Stock $ 4,176 $ 4,762 Dilutive potential common shares: Mobility preferred interests 72 140 Share-based payment 4 6 Numerator for diluted earnings per share $ 4,252 $ 4,908 Denominators (000,000) Denominator for basic earnings per share: Weighted average number of common shares outstanding 7,168 7,184 Dilutive potential common shares: Mobility preferred interests (in shares) 284 337 Share-based payment (in shares) 22 35 Denominator for diluted earnings per share 7,474 7,556 Under 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), the ability to settle our Series A Cumulative Perpetual Preferred Membership Interests in AT&T Mobility II LLC (Mobility preferred interests) in stock is reflected in our diluted earnings per share calculation. While our intent is to settle the Mobility preferred interests in cash, the ability to settle this instrument in AT&T shares will result in additional dilutive impact, the magnitude of which is influenced by the fair value of the Mobility preferred interests and the average AT&T common stock price during the reporting period, which could vary from period-to-period. On April 5, 2023, we repurchased the remaining Mobility preferred interests and our calculation of diluted earnings per share will not reflect the dilutive potential of these instruments |
Other Comprehensive Income
Other Comprehensive Income | 3 Months Ended |
Mar. 31, 2023 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |
Other Comprehensive Income | NOTE 3. OTHER COMPREHENSIVE INCOME Changes in the balances of each component included in accumulated OCI are presented below. All amounts are net of tax and exclude noncontrolling interest. Foreign Currency Translation Adjustment Net Unrealized Gains (Losses) on Securities Net Unrealized Gains (Losses) on Derivative Instruments Defined Benefit Postretirement Plans Accumulated Other Comprehensive Income (Loss) Balance as of December 31, 2022 $ (1,800) $ (90) $ (1,998) $ 6,654 $ 2,766 Other comprehensive income (loss) before reclassifications 193 23 (152) — 64 Amounts reclassified from accumulated OCI — 1 3 1 12 2 (491) 3 (476) Net other comprehensive income (loss) 193 26 (140) (491) (412) Balance as of March 31, 2023 $ (1,607) $ (64) $ (2,138) $ 6,163 $ 2,354 Foreign Currency Translation Adjustment Net Unrealized Gains (Losses) on Securities Net Unrealized Gains (Losses) on Derivative Instruments Defined Benefit Postretirement Plans Accumulated Other Comprehensive Income (Loss) Balance as of December 31, 2021 $ (1,964) $ 45 $ (1,422) $ 6,870 $ 3,529 Other comprehensive income (loss) before reclassifications 19 (69) 258 — 208 Amounts reclassified from accumulated OCI — 1 3 1 15 2 (465) 3 (447) Net other comprehensive income (loss) 19 (66) 273 (465) (239) Balance as of March 31, 2022 $ (1,945) $ (21) $ (1,149) $ 6,405 $ 3,290 1 (Gains) losses are included in “Other income (expense) - net” in the consolidated statements of income. 2 (Gains) losses are primarily included in “Interest expense” in the consolidated statements of income (see Note 7). 3 The amortization of prior service credits associated with postretirement benefits are included in “Other income (expense) - net” in the consolidated statements of income (see Note 6). |
Segment Information
Segment Information | 3 Months Ended |
Mar. 31, 2023 | |
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. Effective for the first quarter of 2023, we no longer record prior service credits to our individual business units or the corresponding charge to Corporate and Other, and segment operating expenses were recast to remove prior service credits from our historical reporting. Prior service credits are, and will continue to be, recorded as other income in our consolidated income statement in accordance with GAAP. This recast increased Communications segment operations and support expenses by approximately $2,400 for full-year 2022. Correspondingly, this recast lowered administrative expenses within Corporate and Other, 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 now 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 8). • Value portfolio , which are businesses no longer integral to our operations or which we no longer actively market. Other items consist of : • 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 other items for which the segments are not being evaluated. “Interest expense” and “Other income (expense) – net” are managed only on a total company basis and are, accordingly, reflected only in consolidated results. For the three months ended March 31, 2023 Revenues Operations EBITDA Depreciation Operating Communications Mobility $ 20,582 $ 12,213 $ 8,369 $ 2,098 $ 6,271 Business Wireline 5,331 3,623 1,708 1,330 378 Consumer Wireline 3,239 2,284 955 861 94 Total Communications 29,152 18,120 11,032 4,289 6,743 Latin America - Mexico 883 738 145 175 (30) Segment Total 30,035 18,858 11,177 4,464 6,713 Corporate and Other Corporate: DTV-related retained costs — 169 (169) 144 (313) Parent administration support (9) 374 (383) 1 (384) Securitization fees 19 121 (102) — (102) Value portfolio 94 28 66 5 61 Total Corporate 104 692 (588) 150 (738) Certain significant items — (44) 44 17 27 Total Corporate and Other 104 648 (544) 167 (711) AT&T Inc. $ 30,139 $ 19,506 $ 10,633 $ 4,631 $ 6,002 For the three months ended March 31, 2022 Revenues Operations and Support Expenses EBITDA Depreciation and Amortization Operating Income (Loss) Communications Mobility $ 20,075 $ 12,327 $ 7,748 $ 2,059 $ 5,689 Business Wireline 5,640 3,702 1,938 1,299 639 Consumer Wireline 3,161 2,236 925 766 159 Total Communications 28,876 18,265 10,611 4,124 6,487 Latin America - Mexico 690 631 59 161 (102) Segment Total 29,566 18,896 10,670 4,285 6,385 Corporate and Other Corporate: DTV-related retained costs 8 160 (152) 134 (286) Parent administration support (12) 347 (359) 6 (365) Securitization fees 16 82 (66) — (66) Value portfolio 134 37 97 10 87 Total Corporate 146 626 (480) 150 (630) Certain significant items — 191 (191) 27 (218) Total Corporate and Other 146 817 (671) 177 (848) AT&T Inc. $ 29,712 $ 19,713 $ 9,999 $ 4,462 $ 5,537 The following table is a reconciliation of Segment Operating Income to “Income from Continuing Operations Before Income Taxes” reported in our consolidated statements of income: Three months ended 2023 2022 Communications $ 6,743 $ 6,487 Latin America (30) (102) Segment Operating Income 6,713 6,385 Reconciling Items: Corporate (738) (630) Transaction and other costs — (98) Amortization of intangibles acquired (17) (27) Benefit-related gains (losses) 44 (93) AT&T Operating Income 6,002 5,537 Interest expense 1,708 1,626 Equity in net income of affiliates 538 521 Other income (expense) — net 935 2,157 Income from Continuing Operations Before Income Taxes $ 5,767 $ 6,589 |
Revenue Recognition
Revenue Recognition | 3 Months Ended |
Mar. 31, 2023 | |
Revenue from Contract with Customer [Abstract] | |
Revenue Recognition | NOTE 5. REVENUE RECOGNITION Revenue Categories The following tables set forth reported revenue by category and by business unit: For the three months ended March 31, 2023 Communications Mobility Business Wireline Consumer Wireline Latin America Corporate & Other Total Wireless service $ 15,483 $ — $ — $ 591 $ — $ 16,074 Business service — 5,200 — — — 5,200 Broadband — — 2,527 — — 2,527 Legacy voice and data — — 396 — 83 479 Other — — 316 — 21 337 Total Service 15,483 5,200 3,239 591 104 24,617 Equipment 5,099 131 — 292 — 5,522 Total $ 20,582 $ 5,331 $ 3,239 $ 883 $ 104 $ 30,139 For the three months ended March 31, 2022 Communications Mobility Business Wireline Consumer Wireline Latin America Corporate & Other Total Wireless service $ 14,724 $ — $ — $ 490 $ — $ 15,214 Business service — 5,478 — — — 5,478 Broadband — — 2,355 — — 2,355 Legacy voice and data — — 460 — 89 549 Other — — 346 — 57 403 Total Service 14,724 5,478 3,161 490 146 23,999 Equipment 5,351 162 — 200 — 5,713 Total $ 20,075 $ 5,640 $ 3,161 $ 690 $ 146 $ 29,712 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. The following table presents the deferred customer contract acquisition and fulfillment costs included on our consolidated balance sheets: March 31, December 31, Consolidated Balance Sheets 2023 2022 Deferred Acquisition Costs Prepaid and other current assets $ 2,988 $ 2,893 Other Assets 3,962 3,913 Total deferred customer contract acquisition costs $ 6,950 $ 6,806 Deferred Fulfillment Costs Prepaid and other current assets $ 2,433 $ 2,481 Other Assets 4,133 4,206 Total deferred customer contract fulfillment costs $ 6,566 $ 6,687 The following table presents deferred customer contract acquisition and fulfillment cost amortization included in “Other cost of revenue” for the three months ended: March 31, March 31, Consolidated Statements of Income 2023 2022 Deferred acquisition cost amortization $ 830 $ 663 Deferred fulfillment cost amortization 678 664 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: March 31, December 31, Consolidated Balance Sheets 2023 2022 Contract asset $ 5,812 $ 5,512 Current portion in “Prepaid and other current assets” 3,058 2,941 Contract liability 4,158 4,170 Current portion in “Advanced billings and customer deposits” 3,818 3,816 Our contract asset balances for the quarter ended March 31, 2023 and December 31, 2022 reflect increased promotional equipment sales in our wireless business. Our beginning of period contract liability recorded as customer contract revenue during 2023 was $2,821. 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 March 31, 2023, the aggregate amount of the transaction price allocated to remaining performance obligations was $36,722, of which we expect to recognize approximately 70% by the end of 2024, with the balance recognized thereafter. |
Pension And Postretirement Bene
Pension And Postretirement Benefits | 3 Months Ended |
Mar. 31, 2023 | |
Retirement Benefits [Abstract] | |
Pension And Postretirement Benefits | NOTE 6. PENSION AND POSTRETIREMENT BENEFITS Many of our employees are covered by one of our noncontributory pension plans. We also provide certain medical, dental, life insurance and death benefits to certain retired employees under various plans and accrue actuarially determined postretirement benefit costs. Our objective in funding these plans, in combination with the standards of the Employee Retirement Income Security Act of 1974, as amended (ERISA), is to accumulate assets sufficient to provide benefits described in the plans to employees upon their retirement. We do not have significant funding requirements in 2023. We recognize actuarial gains and losses on pension and postretirement plan assets in our consolidated results as a component of “Other income (expense) – net” at our annual measurement date of December 31, unless earlier remeasurements are required. The following table details qualified pension and postretirement benefit costs included in the accompanying consolidated statements of income. The service cost component of net periodic pension (credit) cost is recorded in operating expenses in the consolidated statements of income while the remaining components are recorded in “Other income (expense) – net.” Three months ended March 31, 2023 2022 Pension cost: Service cost – benefits earned during the period $ 121 $ 183 Interest cost on projected benefit obligation 516 320 Expected return on assets (714) (868) Amortization of prior service credit (33) (33) Net pension (credit) cost before remeasurement (110) (398) Actuarial (gain) loss — (1,012) Net pension (credit) cost $ (110) $ (1,410) Postretirement cost: Service cost – benefits earned during the period $ 6 $ 9 Interest cost on accumulated postretirement benefit obligation 85 63 Expected return on assets (33) (32) Amortization of prior service credit (618) (582) Net postretirement (credit) cost $ (560) $ (542) Combined net pension and postretirement (credit) cost $ (670) $ (1,952) |
Fair Value Measurements And Dis
Fair Value Measurements And Disclosure | 3 Months Ended |
Mar. 31, 2023 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements And Disclosure | NOTE 7. FAIR VALUE MEASUREMENTS AND DISCLOSURE The Fair Value Measurement and Disclosure framework in ASC 820, “Fair Value Measurement,” provides a three-tiered fair value hierarchy based on the reliability of the inputs used to determine fair value. Level 1 refers to fair values determined based on quoted prices in active markets for identical assets. Level 2 refers to fair values estimated using significant other observable inputs and Level 3 includes fair values estimated using significant unobservable inputs. The level of an asset or liability within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. Our valuation techniques maximize the use of observable inputs and minimize the use of unobservable inputs. The valuation methodologies described above may produce a fair value calculation that may not be indicative of future net realizable value or reflective of future fair values. We believe our valuation methods are appropriate and consistent with other market participants. The use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different fair value measurement at the reporting date. There have been no changes in the methodologies used since December 31, 2022. Long-Term Debt and Other Financial Instruments The carrying amounts and estimated fair values of our long-term debt, including current maturities, and other financial instruments are summarized as follows: March 31, 2023 December 31, 2022 Carrying Fair Carrying Fair Amount Value Amount Value Notes and debentures 1 $ 132,260 $ 126,075 $ 133,207 $ 122,524 Commercial paper 3,258 3,258 866 866 Investment securities 2 2,762 2,762 2,692 2,692 1 Includes credit agreement borrowings. 2 Excludes investments accounted for under the equity method. The carrying amount of debt with an original maturity of less than one year approximates fair value. The fair value measurements used for notes and debentures are considered Level 2 and are determined using various methods, including quoted prices for identical or similar securities in both active and inactive markets. Following is the fair value leveling for investment securities that are measured at fair value and derivatives as of March 31, 2023 and December 31, 2022. Derivatives designated as hedging instruments are reflected as “Other Assets,” “Other noncurrent liabilities,” “Prepaid and other current assets” and “Accounts payable and accrued liabilities” on our consolidated balance sheets. March 31, 2023 Level 1 Level 2 Level 3 Total Equity Securities Domestic equities $ 986 $ — $ — $ 986 International equities 184 — — 184 Fixed income equities 203 — — 203 Available-for-Sale Debt Securities — 1,214 — 1,214 Asset Derivatives Interest rate swaps — 7 — 7 Cross-currency swaps — 45 — 45 Liability Derivatives Cross-currency swaps — (5,485) — (5,485) Foreign exchange contracts — (20) — (20) 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) Investment Securities Our investment securities include both equity and debt securities that are measured at fair value, as well as equity securities without readily determinable fair values. A substantial portion of the fair values of our investment securities is estimated based on quoted market prices. Investments in equity securities not traded on a national securities exchange are valued at cost, less any impairment, and adjusted for changes resulting from observable, orderly transactions for identical or similar securities. Investments in debt securities not traded on a national securities exchange are valued using pricing models, quoted prices of securities with similar characteristics or discounted cash flows. The components comprising total gains and losses in the period on equity securities are as follows: Three months ended March 31, 2023 2022 Total gains (losses) recognized on equity securities $ 83 $ (95) Gains (losses) recognized on equity securities sold 4 (7) Unrealized gains (losses) recognized on equity securities held at end of period $ 79 $ (88) At March 31, 2023, available-for-sale debt securities totaling $1,214 have maturities as follows - less than one year: $39; one to three years: $192; three to five years: $167; five or more years: $816. 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 three months ended March 31, 2023 and 2022, no ineffectiveness was measured on fair value hedges. Cash Flow Hedging We designate 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 and interest rate risk generated from our foreign-denominated debt. These agreements include initial and final exchanges of principal from fixed foreign 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 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 March 31, 2023, we had posted collateral of $50 (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 March, we would have been required to post additional collateral of $55. 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 $5,348. At December 31, 2022, we had posted collateral of $886 (a deposit asset) and held collateral of $0 (a receipt liability). We do not offset the fair value of collateral, whether the right to reclaim cash collateral (a receivable) or the obligation to return cash collateral (a payable) exists, against the fair value of the derivative instruments. Following are the notional amounts of our outstanding derivative positions: March 31, December 31, 2023 2022 Interest rate swaps $ 1,750 $ — Cross-currency swaps 37,908 38,213 Foreign exchange contracts 617 617 Total $ 40,275 $ 38,830 Following are the related hedged items affecting our financial position and performance: Effect of Derivatives on the Consolidated Statements of Income Three months ended March 31, Fair Value Hedging Relationships 2023 2022 Interest rate swaps (“Interest expense”): Gain (loss) on interest rate swaps $ 7 $ (1) Gain (loss) on long-term debt (7) 1 Cross-currency swaps: Gain (loss) on cross-currency swaps 380 (37) Gain (loss) on long-term debt (380) 37 Gain (loss) recognized in accumulated OCI (182) 9 Foreign exchange contracts: Gain (loss) on foreign exchange contracts 7 — Gain (loss) on long-term debt (7) — Gain (loss) recognized in accumulated OCI (3) — In addition, the net swap settlements that accrued and settled in the periods above were offset against “Interest expense.” The following table presents information for our cash flow hedging relationships: Three months ended March 31, Cash Flow Hedging Relationships 2023 2022 Cross-currency swaps: Gain (loss) recognized in accumulated OCI $ (10) $ 315 Foreign exchange contracts: Gain (loss) recognized in accumulated OCI — 3 Other income (expense) - net reclassified from accumulated OCI into income — 1 Interest rate locks: Interest income (expense) reclassified from accumulated OCI into income (15) (20) |
Sales Of Receivables
Sales Of Receivables | 3 Months Ended |
Mar. 31, 2023 | |
Receivables [Abstract] | |
Sales Of Receivables | NOTE 8. 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 during the three months ended March 31, 2023 and 2022 that are included in cash flows from operating activities: Three months ended March 31, 2023 2022 Net cash received from equipment installment receivables 1 $ 10 $ 1,026 Net cash (paid) received from other programs (114) 288 Total net cash impact to cash flows from operating activities $ (104) $ 1,314 1 Net cash from initial sales of $2,529 and $3,316 during the three months ended March 31, 2023 and 2022, 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: March 31, 2023 December 31, 2022 Gross receivables: $ 4,109 $ 4,165 Balance sheet classification Accounts receivable Notes receivable 1,387 1,789 Trade receivables 610 522 Other Assets Noncurrent notes and trade receivables 2,112 1,854 Outstanding portfolio of receivables derecognized from our consolidated balance sheets $ 11,221 $ 11,030 Cash proceeds received, net of remittances 1 8,529 8,519 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 during the three months ended March 31, 2023 and 2022: Three months ended March 31, 2023 2022 Gross receivables sold 1 $ 2,560 $ 3,601 Net receivables sold 2 2,438 3,478 Cash proceeds received 2,529 3,316 Deferred purchase price recorded — 245 Guarantee obligation recorded 206 152 1 Receivables net of promotion credits. 2 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 7). The following table presents the previously transferred equipment installment receivables, which we repurchased in exchange for the associated deferred purchase price during the three months ended March 31, 2023 and 2022: Three months ended March 31, 2023 2022 Fair value of repurchased receivables $ 541 $ 905 Carrying value of deferred purchase price 542 902 Gain (loss) on repurchases 1 $ (1) $ 3 1 These gains (losses) are included in “Selling, general and administrative” expense in the consolidated statements of income. At March 31, 2023 and December 31, 2022, our deferred purchase price receivable was $2,451 and $2,318, respectively, of which $1,395 and $1,278 are included in “Prepaid and other current assets” on our consolidated balance sheets, with the remainder in “Other Assets.” The guarantee obligation at March 31, 2023 and December 31, 2022 was $399 and $419, respectively, of which $55 and $73 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. |
Leases
Leases | 3 Months Ended |
Mar. 31, 2023 | |
Leases [Abstract] | |
Leases | NOTE 9. LEASES We have operating and finance leases for certain facilities and equipment used in operations. Our leases generally have remaining lease terms of up to 15 years. Some of our real estate operating leases contain renewal options that may be exercised, and some of our leases include options to terminate the lease within one year. We have recognized a right-of-use asset for both operating and finance leases and an operating lease liability that represents the present value of our obligation to make payments over the lease term. The present value of the lease payments is calculated using the incremental borrowing rate for operating and finance leases, which was determined using a portfolio approach based on the rate of interest that we would have to pay to borrow an amount equal to the lease payments on a collateralized basis over a similar term. We use the unsecured borrowing rate and risk-adjust that rate to approximate a collateralized rate in the currency of the lease, which will be updated on a quarterly basis for measurement of new lease liabilities. The components of lease expense were as follows: Three months ended March 31, 2023 2022 Operating lease cost $ 1,395 $ 1,347 Finance lease cost: Amortization of right-of-use assets $ 57 $ 45 Interest on lease obligation 46 37 Total finance lease cost $ 103 $ 82 The following table provides supplemental cash flows information related to leases: Three months ended March 31, 2023 2022 Cash Flows from Operating Activities Cash paid for amounts included in lease obligations: Operating cash flows for operating leases $ 1,166 $ 1,173 Supplemental Lease Cash Flow Disclosures Operating lease right-of-use assets obtained in exchange for new 707 689 The following tables set forth supplemental balance sheet information related to leases: March 31, December 31, Operating Leases Operating lease right-of-use assets $ 21,619 $ 21,814 Accounts payable and accrued liabilities $ 3,530 $ 3,547 Operating lease obligation 18,413 18,659 Total operating lease obligation $ 21,943 $ 22,206 Finance Leases Property, plant and equipment, at cost $ 2,972 $ 2,770 Accumulated depreciation and amortization (1,314) (1,224) Property, plant and equipment, net $ 1,658 $ 1,546 Current portion of long-term debt $ 209 $ 170 Long-term debt 1,758 1,647 Total finance lease obligation $ 1,967 $ 1,817 March 31, 2023 2022 Weighted-Average Remaining Lease Term (years) Operating leases 8.1 8.2 Finance leases 7.3 8.5 Weighted-Average Discount Rate Operating leases 3.8 % 3.7 % Finance leases 7.8 % 8.1 % The following table provides the expected future minimum maturities of lease obligations: At March 31, 2023 Operating Finance Leases Leases Remainder of 2023 $ 3,537 $ 273 2024 4,309 364 2025 3,652 367 2026 2,942 309 2027 2,415 306 Thereafter 9,427 1,091 Total lease payments 26,282 2,710 Less: imputed interest (4,339) (743) Total $ 21,943 $ 1,967 |
Leases | NOTE 9. LEASES We have operating and finance leases for certain facilities and equipment used in operations. Our leases generally have remaining lease terms of up to 15 years. Some of our real estate operating leases contain renewal options that may be exercised, and some of our leases include options to terminate the lease within one year. We have recognized a right-of-use asset for both operating and finance leases and an operating lease liability that represents the present value of our obligation to make payments over the lease term. The present value of the lease payments is calculated using the incremental borrowing rate for operating and finance leases, which was determined using a portfolio approach based on the rate of interest that we would have to pay to borrow an amount equal to the lease payments on a collateralized basis over a similar term. We use the unsecured borrowing rate and risk-adjust that rate to approximate a collateralized rate in the currency of the lease, which will be updated on a quarterly basis for measurement of new lease liabilities. The components of lease expense were as follows: Three months ended March 31, 2023 2022 Operating lease cost $ 1,395 $ 1,347 Finance lease cost: Amortization of right-of-use assets $ 57 $ 45 Interest on lease obligation 46 37 Total finance lease cost $ 103 $ 82 The following table provides supplemental cash flows information related to leases: Three months ended March 31, 2023 2022 Cash Flows from Operating Activities Cash paid for amounts included in lease obligations: Operating cash flows for operating leases $ 1,166 $ 1,173 Supplemental Lease Cash Flow Disclosures Operating lease right-of-use assets obtained in exchange for new 707 689 The following tables set forth supplemental balance sheet information related to leases: March 31, December 31, Operating Leases Operating lease right-of-use assets $ 21,619 $ 21,814 Accounts payable and accrued liabilities $ 3,530 $ 3,547 Operating lease obligation 18,413 18,659 Total operating lease obligation $ 21,943 $ 22,206 Finance Leases Property, plant and equipment, at cost $ 2,972 $ 2,770 Accumulated depreciation and amortization (1,314) (1,224) Property, plant and equipment, net $ 1,658 $ 1,546 Current portion of long-term debt $ 209 $ 170 Long-term debt 1,758 1,647 Total finance lease obligation $ 1,967 $ 1,817 March 31, 2023 2022 Weighted-Average Remaining Lease Term (years) Operating leases 8.1 8.2 Finance leases 7.3 8.5 Weighted-Average Discount Rate Operating leases 3.8 % 3.7 % Finance leases 7.8 % 8.1 % The following table provides the expected future minimum maturities of lease obligations: At March 31, 2023 Operating Finance Leases Leases Remainder of 2023 $ 3,537 $ 273 2024 4,309 364 2025 3,652 367 2026 2,942 309 2027 2,415 306 Thereafter 9,427 1,091 Total lease payments 26,282 2,710 Less: imputed interest (4,339) (743) Total $ 21,943 $ 1,967 |
Transactions with DIRECTV
Transactions with DIRECTV | 3 Months Ended |
Mar. 31, 2023 | |
Related Party Transactions [Abstract] | |
Related Party Transactions Disclosure | NOTE 10. TRANSACTIONS WITH DIRECTV We account for our investment in DIRECTV under the equity method and record our share of DIRECTV earnings as equity in net income of affiliates, with DIRECTV considered a related party. O ur share of DIRECTV’s earnings included in equity in net income of affiliates was $534 and $522 f or the three months ended March 31, 2023 and 2022, respectively . Cash distributions from DIRECTV for the first three months of 2023 totaled $1,308, with $534 classified as operating activities and $774 classified as investing activities in our consolidated statement of cash flows versus total cash distributions of $1,837 ($522 operating and $1,315 investing) in the comparable prior period. Our investment in DIRECTV at March 31, 2023 was $2,142. During the first three months of 2023, we repaid all outstanding notes payable to DIRECTV. We 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 three months ended March 31, 2023, we billed DIRECTV approximately $240 for these costs, which were recorded as a reduction to the operations and support expenses incurred and resulted in net retained costs to AT&T of $169 in the first quarter of 2023. At March 31, 2023 , we had accounts receivable from DIRECTV of $320 and accounts payable to DIRECTV of $80. We are not committed, implicitly or explicitly to provide financial or other support, other than as noted above, as our involvement with DIRECTV is limited to the carrying amount of the assets and liabilities recognized on our balance sheet. |
Supplier and Vendor Financing P
Supplier and Vendor Financing Programs | 3 Months Ended |
Mar. 31, 2023 | |
Transfers and Servicing [Abstract] | |
Transfers and Servicing of Financial Assets [Text Block] | NOTE 11. SUPPLIER AND VENDOR FINANCING PROGRAMS Supplier Financing Program We actively manage the timing of our supplier payments for operating items to optimize the use of our cash and seek to make payments on 90-day or greater terms, while providing suppliers with access to bank facilities that permit earlier payment at their cost. Our supplier financing program does not result in changes to our normal, contracted payment cycles or cash from operations. At the supplier’s election, they can receive payment of AT&T obligations prior to the scheduled due dates, at a discounted price to the third-party financial institution. The discounted price paid by participating suppliers is based on a variable rate that is indexed to the overnight borrowing rate. We agree to pay the financial institution the stated amount generally within 90 days of receipt of the invoice. We do not have pledged assets or other guarantees under our supplier financing program. Based on data from our financial institution partners, suppliers had elected to sell $2,557 of our outstanding payment obligations as of March 31, 2023 and $2,869 as of December 31, 2022, which are included in “Accounts payable and accrued liabilities” on our consolidated balance sheets. Our supplier financing programs are reported as operating or investing (when capitalizable) activities in our statements of cash flows when paid. Direct Supplier Financing We also have arrangements with suppliers of handset inventory that allow us to extend the stated payment terms by up to 90 days at an additional cost to us (variable rate extension fee). All payments are due within one year. We had $5,129 of direct supplier financing outstanding at March 31, 2023 and $5,486 as of December 31, 2022, which are included in “Accounts payable and accrued liabilities” on our consolidated balance sheets. Our direct supplier financing is reported as operating activities in our statements of cash flows when paid. Vendor Financing In connection with capital improvements and the acquisition of other productive assets, we negotiate favorable payment terms of 120 days or more (referred to as vendor financing), which are reported as financing activities in our statements of cash flows when paid. For the three months ended March 31, 2023 and 2022, we recorded vendor financing commitments related to capital investments of approximately $1,021 and $954, respectively. We had $5,003 vendor financing payables at March 31, 2023, with $3,531 included in “Accounts payable and accrued liabilities” and $6,147 vendor financing payables at December 31, 2022, with $4,592 included in “Accounts payable and accrued liabilities.” |
Additional Financial Informatio
Additional Financial Information | 3 Months Ended |
Mar. 31, 2023 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Additional Financial Information | NOTE 12. ADDITIONAL FINANCIAL INFORMATION Cash and Cash Flows We typically maintain our restricted cash balances for purchases and sales of certain investment securities and funding of certain deferred compensation benefit payments. The following table summarizes cash and cash equivalents and restricted cash balances contained on our consolidated balance sheets: March 31, December 31, 2023 2022 2022 2021 Cash and cash equivalents from continuing operations $ 2,821 $ 17,084 $ 3,701 $ 19,223 Cash and cash equivalents from discontinued operations — 21,481 — 1,946 Restricted cash in Prepaid and other current assets 1 2 1 3 Restricted cash in Other Assets 120 81 91 144 Cash and Cash Equivalents and Restricted Cash $ 2,942 $ 38,648 $ 3,793 $ 21,316 The following table summarizes cash paid during the periods for interest and income taxes: Three months ended March 31, Cash paid (received) during the period for: 2023 2022 Interest $ 1,971 $ 2,154 Income taxes, net of refunds 10 72 The following table summarizes capital expenditures: Three months ended March 31, 2023 2022 Purchase of property and equipment $ 4,291 $ 4,532 Interest during construction - capital expenditures 1 44 36 Total Capital Expenditures $ 4,335 $ 4,568 The following table summarizes acquisitions, net of cash acquired: Three months ended March 31, 2023 2022 Business acquisitions $ — $ — Spectrum acquisitions 63 8,956 Interest during construction - spectrum 1 228 288 Total Acquisitions $ 291 $ 9,244 1 Total capitalized interest was $272 and $324 for the three months ended March 31, 2023 and 2022, respectively. |
Subsequent Events
Subsequent Events | 3 Months Ended |
Mar. 31, 2023 | |
Subsequent Events [Abstract] | |
Subsequent Events (Unaudited) | NOTE 13. SUBSEQUENT EVENTS Telco LLC Preferred Interests In April 2023, we expanded our September 2020 sale of Telco LLC cumulative preferred interests and issued an additional $5,250 of nonconvertible cumulative preferred interests (Class A-2 and A-3, collectively the “April preferreds”). Cumulative preferred interests in our Telco LLC total $7,250, collectively the “Telco preferred interests” (see Note 16 to AT&T’s 2022 Annual Report on Form 10-K). The April preferreds pay an initial preferred distribution of 6.85% annually, subject to declaration and subject to reset on November 1, 2027, and every seven years thereafter. We can call the Telco preferred interests at the issue price beginning September 29, 2027. 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. Mobility II Preferred Interests In April 2023, we accepted the December 2022 put option notice from the AT&T pension trust and repurchased the remaining 213 million Series A Cumulative Perpetual Preferred Membership Interests in AT&T Mobility II LLC (Mobility preferred interests) for a purchase price, including accrued and unpaid distributions, of $5,414. At March 31, 2023, the Mobility preferred interests had a redemption value of $5,320, with approximately $2,650 recorded in “Accounts payable and accrued liabilities” and $2,670 recorded in “Other noncurrent liabilities.” The repurchase was funded with proceeds from the April preferreds. AT&T Pension Benefit Plan On April 26, 2023, AT&T and State Street Global Advisors Trust Company, as independent fiduciary of the AT&T Pension Benefit Plan (Plan), entered into a commitment agreement with subsidiaries of Athene Holding Ltd. (Athene) under which AT&T agreed to purchase nonparticipating single premium group annuity contracts that will transfer to Athene approximately $8,050 of the Plan’s defined benefit pension obligations related to certain retirees, participants and beneficiaries under the Plan. The purchase of the group annuity contracts is expected to close on May 3, 2023. The contracts cover approximately 96,000 AT&T participants and beneficiaries (Transferred Participants). Under the group annuity contracts, Athene, through its wholly-owned subsidiaries Athene Annuity and Life Company and Athene Annuity & Life Assurance Company of New York, has made an irrevocable commitment, and will be solely responsible, to pay the pension benefits of each Transferred Participant beginning with their August 2023 pension payments. The transaction will result in no changes to the amount of pension benefits payable to the Transferred Participants. |
Preparation Of Interim Financ_2
Preparation Of Interim Financial Statements (Policies) | 3 Months Ended |
Mar. 31, 2023 | |
Accounting Policies [Abstract] | |
Principles of Consolidation [Policy Text Block] | 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. |
Basis of Accounting [Policy Text Block] | The preparation of financial statements in conformity with U.S. generally accepted accounting principles (GAAP) requires management to make estimates and assumptions, including 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. Certain prior period amounts have been conformed to the current period’s presentation. Unless otherwise noted, the information in Notes 1 through 13 refer only to our continuing operations and do not include discussion of balances or activity of WarnerMedia, Vrio, Xandr and Playdemic Ltd., which were part of discontinued operations. |
New Accounting Pronouncement, Policy [Policy Text Block] | Supplier Finance Obligations As of January 1, 2023, we adopted, with retrospective application, the Financial Accounting Standards Board’s (FASB) Accounting Standards Update (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. The annual rollforward requirement becomes effective for annual periods beginning after December 15, 2023, with prospective application. The standard allows early adoption of this requirement. In the year of adoption, the disclosure of payment and other key terms under the programs and outstanding balances under the obligations also applies to interim reporting dates. |
Pension And Postretirement Be_2
Pension And Postretirement Benefits (Policies) | 3 Months Ended |
Mar. 31, 2023 | |
Retirement Benefits [Abstract] | |
Recognition of Actuarial Gains and Losses [Policy Text Block] | We recognize actuarial gains and losses on pension and postretirement plan assets in our consolidated results as a component of “Other income (expense) – net” at our annual measurement date of December 31, unless earlier remeasurements are required. |
Fair Value Measures and Disclos
Fair Value Measures and Disclosures (Policies) | 3 Months Ended |
Mar. 31, 2023 | |
Fair Value Disclosures [Abstract] | |
Derivatives, Offsetting Fair Value Amounts [Policy Text Block] | We do not offset the fair value of collateral, whether the right to reclaim cash collateral (a receivable) or the obligation to return cash collateral (a payable) exists, against the fair value of the derivative instruments. |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
Earnings Per Share [Abstract] | |
Reconciliation of Numerators and Denominators of Basic and Diluted Earnings Per Share | A reconciliation of the numerators and denominators of basic and diluted earnings per share for the three months ended March 31, 2023 and 2022, is shown in the table below: Three months ended March 31, 2023 2022 Numerators Numerator for basic earnings per share: Income from continuing operations, net of tax $ 4,453 $ 5,149 Net income from continuing operations attributable to noncontrolling interests (225) (354) Preferred Stock Dividends (52) (48) Income from continuing operations attributable to common stock 4,176 4,747 Income from discontinued operations attributable to common stock — 15 Net Income Attributable to Common Stock $ 4,176 $ 4,762 Dilutive potential common shares: Mobility preferred interests 72 140 Share-based payment 4 6 Numerator for diluted earnings per share $ 4,252 $ 4,908 Denominators (000,000) Denominator for basic earnings per share: Weighted average number of common shares outstanding 7,168 7,184 Dilutive potential common shares: Mobility preferred interests (in shares) 284 337 Share-based payment (in shares) 22 35 Denominator for diluted earnings per share 7,474 7,556 |
Other Comprehensive Income (Tab
Other Comprehensive Income (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |
Accumulated Other Comprehensive Income | Changes in the balances of each component included in accumulated OCI are presented below. All amounts are net of tax and exclude noncontrolling interest. Foreign Currency Translation Adjustment Net Unrealized Gains (Losses) on Securities Net Unrealized Gains (Losses) on Derivative Instruments Defined Benefit Postretirement Plans Accumulated Other Comprehensive Income (Loss) Balance as of December 31, 2022 $ (1,800) $ (90) $ (1,998) $ 6,654 $ 2,766 Other comprehensive income (loss) before reclassifications 193 23 (152) — 64 Amounts reclassified from accumulated OCI — 1 3 1 12 2 (491) 3 (476) Net other comprehensive income (loss) 193 26 (140) (491) (412) Balance as of March 31, 2023 $ (1,607) $ (64) $ (2,138) $ 6,163 $ 2,354 Foreign Currency Translation Adjustment Net Unrealized Gains (Losses) on Securities Net Unrealized Gains (Losses) on Derivative Instruments Defined Benefit Postretirement Plans Accumulated Other Comprehensive Income (Loss) Balance as of December 31, 2021 $ (1,964) $ 45 $ (1,422) $ 6,870 $ 3,529 Other comprehensive income (loss) before reclassifications 19 (69) 258 — 208 Amounts reclassified from accumulated OCI — 1 3 1 15 2 (465) 3 (447) Net other comprehensive income (loss) 19 (66) 273 (465) (239) Balance as of March 31, 2022 $ (1,945) $ (21) $ (1,149) $ 6,405 $ 3,290 1 (Gains) losses are included in “Other income (expense) - net” in the consolidated statements of income. 2 (Gains) losses are primarily included in “Interest expense” in the consolidated statements of income (see Note 7). 3 The amortization of prior service credits associated with postretirement benefits are included in “Other income (expense) - net” in the consolidated statements of income (see Note 6). |
Segment Information (Tables)
Segment Information (Tables) | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Segment Reporting [Abstract] | ||
Reconciliation of Revenues to Segment Contribution | For the three months ended March 31, 2023 Revenues Operations EBITDA Depreciation Operating Communications Mobility $ 20,582 $ 12,213 $ 8,369 $ 2,098 $ 6,271 Business Wireline 5,331 3,623 1,708 1,330 378 Consumer Wireline 3,239 2,284 955 861 94 Total Communications 29,152 18,120 11,032 4,289 6,743 Latin America - Mexico 883 738 145 175 (30) Segment Total 30,035 18,858 11,177 4,464 6,713 Corporate and Other Corporate: DTV-related retained costs — 169 (169) 144 (313) Parent administration support (9) 374 (383) 1 (384) Securitization fees 19 121 (102) — (102) Value portfolio 94 28 66 5 61 Total Corporate 104 692 (588) 150 (738) Certain significant items — (44) 44 17 27 Total Corporate and Other 104 648 (544) 167 (711) AT&T Inc. $ 30,139 $ 19,506 $ 10,633 $ 4,631 $ 6,002 For the three months ended March 31, 2022 Revenues Operations and Support Expenses EBITDA Depreciation and Amortization Operating Income (Loss) Communications Mobility $ 20,075 $ 12,327 $ 7,748 $ 2,059 $ 5,689 Business Wireline 5,640 3,702 1,938 1,299 639 Consumer Wireline 3,161 2,236 925 766 159 Total Communications 28,876 18,265 10,611 4,124 6,487 Latin America - Mexico 690 631 59 161 (102) Segment Total 29,566 18,896 10,670 4,285 6,385 Corporate and Other Corporate: DTV-related retained costs 8 160 (152) 134 (286) Parent administration support (12) 347 (359) 6 (365) Securitization fees 16 82 (66) — (66) Value portfolio 134 37 97 10 87 Total Corporate 146 626 (480) 150 (630) Certain significant items — 191 (191) 27 (218) Total Corporate and Other 146 817 (671) 177 (848) AT&T Inc. $ 29,712 $ 19,713 $ 9,999 $ 4,462 $ 5,537 | |
Reconciliation of Segment Contributions to Income Before Income Taxes | The following table is a reconciliation of Segment Operating Income to “Income from Continuing Operations Before Income Taxes” reported in our consolidated statements of income: Three months ended 2023 2022 Communications $ 6,743 $ 6,487 Latin America (30) (102) Segment Operating Income 6,713 6,385 Reconciling Items: Corporate (738) (630) Transaction and other costs — (98) Amortization of intangibles acquired (17) (27) Benefit-related gains (losses) 44 (93) AT&T Operating Income 6,002 5,537 Interest expense 1,708 1,626 Equity in net income of affiliates 538 521 Other income (expense) — net 935 2,157 Income from Continuing Operations Before Income Taxes $ 5,767 $ 6,589 |
Revenue Recognition (Tables)
Revenue Recognition (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
Revenue from Contract with Customer [Abstract] | |
Disaggregation of Revenue by Category and Business Unit | The following tables set forth reported revenue by category and by business unit: For the three months ended March 31, 2023 Communications Mobility Business Wireline Consumer Wireline Latin America Corporate & Other Total Wireless service $ 15,483 $ — $ — $ 591 $ — $ 16,074 Business service — 5,200 — — — 5,200 Broadband — — 2,527 — — 2,527 Legacy voice and data — — 396 — 83 479 Other — — 316 — 21 337 Total Service 15,483 5,200 3,239 591 104 24,617 Equipment 5,099 131 — 292 — 5,522 Total $ 20,582 $ 5,331 $ 3,239 $ 883 $ 104 $ 30,139 For the three months ended March 31, 2022 Communications Mobility Business Wireline Consumer Wireline Latin America Corporate & Other Total Wireless service $ 14,724 $ — $ — $ 490 $ — $ 15,214 Business service — 5,478 — — — 5,478 Broadband — — 2,355 — — 2,355 Legacy voice and data — — 460 — 89 549 Other — — 346 — 57 403 Total Service 14,724 5,478 3,161 490 146 23,999 Equipment 5,351 162 — 200 — 5,713 Total $ 20,075 $ 5,640 $ 3,161 $ 690 $ 146 $ 29,712 |
Schedule of Deferred Customer Contract Acquisition and Fulfillment Costs | The following table presents the deferred customer contract acquisition and fulfillment costs included on our consolidated balance sheets: March 31, December 31, Consolidated Balance Sheets 2023 2022 Deferred Acquisition Costs Prepaid and other current assets $ 2,988 $ 2,893 Other Assets 3,962 3,913 Total deferred customer contract acquisition costs $ 6,950 $ 6,806 Deferred Fulfillment Costs Prepaid and other current assets $ 2,433 $ 2,481 Other Assets 4,133 4,206 Total deferred customer contract fulfillment costs $ 6,566 $ 6,687 The following table presents deferred customer contract acquisition and fulfillment cost amortization included in “Other cost of revenue” for the three months ended: March 31, March 31, Consolidated Statements of Income 2023 2022 Deferred acquisition cost amortization $ 830 $ 663 Deferred fulfillment cost amortization 678 664 |
Schedule of Contract Assets and Liabilities | The following table presents contract assets and liabilities on our consolidated balance sheets: March 31, December 31, Consolidated Balance Sheets 2023 2022 Contract asset $ 5,812 $ 5,512 Current portion in “Prepaid and other current assets” 3,058 2,941 Contract liability 4,158 4,170 Current portion in “Advanced billings and customer deposits” 3,818 3,816 |
Pension And Postretirement Be_3
Pension And Postretirement Benefits (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
Retirement Benefits [Abstract] | |
Schedule of Pension and Postretirement Benefit (Credits) Costs [Table Text Block] | The following table details qualified pension and postretirement benefit costs included in the accompanying consolidated statements of income. The service cost component of net periodic pension (credit) cost is recorded in operating expenses in the consolidated statements of income while the remaining components are recorded in “Other income (expense) – net.” Three months ended March 31, 2023 2022 Pension cost: Service cost – benefits earned during the period $ 121 $ 183 Interest cost on projected benefit obligation 516 320 Expected return on assets (714) (868) Amortization of prior service credit (33) (33) Net pension (credit) cost before remeasurement (110) (398) Actuarial (gain) loss — (1,012) Net pension (credit) cost $ (110) $ (1,410) Postretirement cost: Service cost – benefits earned during the period $ 6 $ 9 Interest cost on accumulated postretirement benefit obligation 85 63 Expected return on assets (33) (32) Amortization of prior service credit (618) (582) Net postretirement (credit) cost $ (560) $ (542) Combined net pension and postretirement (credit) cost $ (670) $ (1,952) |
Fair Value Measurements And D_2
Fair Value Measurements And Disclosure (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
Fair Value Disclosures [Abstract] | |
Long-Term Debt and Other Financial Instruments | The carrying amounts and estimated fair values of our long-term debt, including current maturities, and other financial instruments are summarized as follows: March 31, 2023 December 31, 2022 Carrying Fair Carrying Fair Amount Value Amount Value Notes and debentures 1 $ 132,260 $ 126,075 $ 133,207 $ 122,524 Commercial paper 3,258 3,258 866 866 Investment securities 2 2,762 2,762 2,692 2,692 1 Includes credit agreement borrowings. 2 Excludes investments accounted for under the equity method. |
Fair Value Leveling | Following is the fair value leveling for investment securities that are measured at fair value and derivatives as of March 31, 2023 and December 31, 2022. Derivatives designated as hedging instruments are reflected as “Other Assets,” “Other noncurrent liabilities,” “Prepaid and other current assets” and “Accounts payable and accrued liabilities” on our consolidated balance sheets. March 31, 2023 Level 1 Level 2 Level 3 Total Equity Securities Domestic equities $ 986 $ — $ — $ 986 International equities 184 — — 184 Fixed income equities 203 — — 203 Available-for-Sale Debt Securities — 1,214 — 1,214 Asset Derivatives Interest rate swaps — 7 — 7 Cross-currency swaps — 45 — 45 Liability Derivatives Cross-currency swaps — (5,485) — (5,485) Foreign exchange contracts — (20) — (20) 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) |
Components Comprising Total Gains and Losses on Equity Securities | The components comprising total gains and losses in the period on equity securities are as follows: Three months ended March 31, 2023 2022 Total gains (losses) recognized on equity securities $ 83 $ (95) Gains (losses) recognized on equity securities sold 4 (7) Unrealized gains (losses) recognized on equity securities held at end of period $ 79 $ (88) |
Notional Amount of Outstanding Derivative Positions | Following are the notional amounts of our outstanding derivative positions: March 31, December 31, 2023 2022 Interest rate swaps $ 1,750 $ — Cross-currency swaps 37,908 38,213 Foreign exchange contracts 617 617 Total $ 40,275 $ 38,830 |
Effect on Derivatives on the Consolidated Statements of Income | Following are the related hedged items affecting our financial position and performance: Effect of Derivatives on the Consolidated Statements of Income Three months ended March 31, Fair Value Hedging Relationships 2023 2022 Interest rate swaps (“Interest expense”): Gain (loss) on interest rate swaps $ 7 $ (1) Gain (loss) on long-term debt (7) 1 Cross-currency swaps: Gain (loss) on cross-currency swaps 380 (37) Gain (loss) on long-term debt (380) 37 Gain (loss) recognized in accumulated OCI (182) 9 Foreign exchange contracts: Gain (loss) on foreign exchange contracts 7 — Gain (loss) on long-term debt (7) — Gain (loss) recognized in accumulated OCI (3) — The following table presents information for our cash flow hedging relationships: Three months ended March 31, Cash Flow Hedging Relationships 2023 2022 Cross-currency swaps: Gain (loss) recognized in accumulated OCI $ (10) $ 315 Foreign exchange contracts: Gain (loss) recognized in accumulated OCI — 3 Other income (expense) - net reclassified from accumulated OCI into income — 1 Interest rate locks: Interest income (expense) reclassified from accumulated OCI into income (15) (20) |
Sales Of Receivables (Tables)
Sales Of Receivables (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
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 during the three months ended March 31, 2023 and 2022 that are included in cash flows from operating activities: Three months ended March 31, 2023 2022 Net cash received from equipment installment receivables 1 $ 10 $ 1,026 Net cash (paid) received from other programs (114) 288 Total net cash impact to cash flows from operating activities $ (104) $ 1,314 1 Net cash from initial sales of $2,529 and $3,316 during the three months ended March 31, 2023 and 2022, respectively. The following table sets forth a summary of the equipment installment receivables and accounts being serviced: March 31, 2023 December 31, 2022 Gross receivables: $ 4,109 $ 4,165 Balance sheet classification Accounts receivable Notes receivable 1,387 1,789 Trade receivables 610 522 Other Assets Noncurrent notes and trade receivables 2,112 1,854 Outstanding portfolio of receivables derecognized from our consolidated balance sheets $ 11,221 $ 11,030 Cash proceeds received, net of remittances 1 8,529 8,519 1 Represents amounts to which financial institutions remain entitled, excluding the deferred purchase price. The following table sets forth a summary of equipment installment receivables sold under this program during the three months ended March 31, 2023 and 2022: Three months ended March 31, 2023 2022 Gross receivables sold 1 $ 2,560 $ 3,601 Net receivables sold 2 2,438 3,478 Cash proceeds received 2,529 3,316 Deferred purchase price recorded — 245 Guarantee obligation recorded 206 152 1 Receivables net of promotion credits. 2 Receivables net of allowance, imputed interest and equipment trade-in right guarantees. The following table presents the previously transferred equipment installment receivables, which we repurchased in exchange for the associated deferred purchase price during the three months ended March 31, 2023 and 2022: Three months ended March 31, 2023 2022 Fair value of repurchased receivables $ 541 $ 905 Carrying value of deferred purchase price 542 902 Gain (loss) on repurchases 1 $ (1) $ 3 1 These gains (losses) are included in “Selling, general and administrative” expense in the consolidated statements of income. |
Schedule of Receivables Sold |
Leases (Tables)
Leases (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
Leases [Abstract] | |
Components of Lease Expense, Supplemental Cash Flow Information Related to Leases, and Supplemental Balance Sheet Information Related to Leases | The components of lease expense were as follows: Three months ended March 31, 2023 2022 Operating lease cost $ 1,395 $ 1,347 Finance lease cost: Amortization of right-of-use assets $ 57 $ 45 Interest on lease obligation 46 37 Total finance lease cost $ 103 $ 82 The following table provides supplemental cash flows information related to leases: Three months ended March 31, 2023 2022 Cash Flows from Operating Activities Cash paid for amounts included in lease obligations: Operating cash flows for operating leases $ 1,166 $ 1,173 Supplemental Lease Cash Flow Disclosures Operating lease right-of-use assets obtained in exchange for new 707 689 The following tables set forth supplemental balance sheet information related to leases: March 31, December 31, Operating Leases Operating lease right-of-use assets $ 21,619 $ 21,814 Accounts payable and accrued liabilities $ 3,530 $ 3,547 Operating lease obligation 18,413 18,659 Total operating lease obligation $ 21,943 $ 22,206 Finance Leases Property, plant and equipment, at cost $ 2,972 $ 2,770 Accumulated depreciation and amortization (1,314) (1,224) Property, plant and equipment, net $ 1,658 $ 1,546 Current portion of long-term debt $ 209 $ 170 Long-term debt 1,758 1,647 Total finance lease obligation $ 1,967 $ 1,817 March 31, 2023 2022 Weighted-Average Remaining Lease Term (years) Operating leases 8.1 8.2 Finance leases 7.3 8.5 Weighted-Average Discount Rate Operating leases 3.8 % 3.7 % Finance leases 7.8 % 8.1 % |
Schedule of Maturities of Operating Leases | The following table provides the expected future minimum maturities of lease obligations: At March 31, 2023 Operating Finance Leases Leases Remainder of 2023 $ 3,537 $ 273 2024 4,309 364 2025 3,652 367 2026 2,942 309 2027 2,415 306 Thereafter 9,427 1,091 Total lease payments 26,282 2,710 Less: imputed interest (4,339) (743) Total $ 21,943 $ 1,967 |
Schedule of Maturities of Finance Leases | The following table provides the expected future minimum maturities of lease obligations: At March 31, 2023 Operating Finance Leases Leases Remainder of 2023 $ 3,537 $ 273 2024 4,309 364 2025 3,652 367 2026 2,942 309 2027 2,415 306 Thereafter 9,427 1,091 Total lease payments 26,282 2,710 Less: imputed interest (4,339) (743) Total $ 21,943 $ 1,967 |
Additional Financial Informat_2
Additional Financial Information (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Schedule of Cash and Cash Flows and Debt Transactions | The following table summarizes cash and cash equivalents and restricted cash balances contained on our consolidated balance sheets: March 31, December 31, 2023 2022 2022 2021 Cash and cash equivalents from continuing operations $ 2,821 $ 17,084 $ 3,701 $ 19,223 Cash and cash equivalents from discontinued operations — 21,481 — 1,946 Restricted cash in Prepaid and other current assets 1 2 1 3 Restricted cash in Other Assets 120 81 91 144 Cash and Cash Equivalents and Restricted Cash $ 2,942 $ 38,648 $ 3,793 $ 21,316 The following table summarizes cash paid during the periods for interest and income taxes: Three months ended March 31, Cash paid (received) during the period for: 2023 2022 Interest $ 1,971 $ 2,154 Income taxes, net of refunds 10 72 The following table summarizes capital expenditures: Three months ended March 31, 2023 2022 Purchase of property and equipment $ 4,291 $ 4,532 Interest during construction - capital expenditures 1 44 36 Total Capital Expenditures $ 4,335 $ 4,568 The following table summarizes acquisitions, net of cash acquired: Three months ended March 31, 2023 2022 Business acquisitions $ — $ — Spectrum acquisitions 63 8,956 Interest during construction - spectrum 1 228 288 Total Acquisitions $ 291 $ 9,244 1 Total capitalized interest was $272 and $324 for the three months ended March 31, 2023 and 2022, respectively. |
Earnings Per Share (Details)
Earnings Per Share (Details) - USD ($) shares in Millions, $ in Millions | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Numerator for basic earnings per share: | ||
Income from Continuing Operations | $ 4,453 | $ 5,149 |
Net income from continuing operations attributable to noncontrolling interests | (225) | (354) |
Less: Preferred Stock Dividends | (52) | (48) |
Income from continuing operations attributable to common stock | 4,176 | 4,747 |
Income from discontinued operations, net of tax | 0 | 15 |
Income from discontinued operations attributable to common stock | 0 | 15 |
Net Income Attributable to Common Stock | 4,176 | 4,762 |
Dilutive potential common shares: | ||
Numerator for diluted earnings per share | $ 4,252 | $ 4,908 |
Denominator for basic earnings per share: | ||
Weighted average number of common shares outstanding (in shares) | 7,168 | 7,184 |
Dilutive potential common shares: | ||
Denominator for diluted earnings per share (in shares) | 7,474 | 7,556 |
AT&T Mobility II, LLC preferred interest conversion | ||
Dilutive potential common shares: | ||
Share-based payment | $ 72 | $ 140 |
Dilutive potential common shares: | ||
Share-based payment (in shares) | 284 | 337 |
Other AT&T units | ||
Dilutive potential common shares: | ||
Share-based payment | $ 4 | $ 6 |
Dilutive potential common shares: | ||
Share-based payment (in shares) | 22 | 35 |
Other Comprehensive Income (Det
Other Comprehensive Income (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
AOCI Attributable to Parent, Net of Tax [Roll Forward] | ||
Other comprehensive income (loss) before reclassifications | $ 64 | $ 208 |
Amounts reclassified from accumulated OCI | (476) | (447) |
Net other comprehensive income (loss) | (412) | (239) |
Accumulated Other Comprehensive Income (Loss) | ||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | ||
Accumulated other comprehensive income, beginning balance | 2,766 | 3,529 |
Net other comprehensive income (loss) | (412) | (239) |
Accumulated other comprehensive income, ending balance | 2,354 | 3,290 |
Foreign Currency Translation Adjustment | ||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | ||
Accumulated other comprehensive income, beginning balance | (1,800) | (1,964) |
Other comprehensive income (loss) before reclassifications | 193 | 19 |
Amounts reclassified from accumulated OCI | 0 | 0 |
Net other comprehensive income (loss) | 193 | 19 |
Accumulated other comprehensive income, ending balance | (1,607) | (1,945) |
Net Unrealized Gains (Losses) on Securities | ||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | ||
Accumulated other comprehensive income, beginning balance | (90) | 45 |
Other comprehensive income (loss) before reclassifications | 23 | (69) |
Amounts reclassified from accumulated OCI | 3 | 3 |
Net other comprehensive income (loss) | 26 | (66) |
Accumulated other comprehensive income, ending balance | (64) | (21) |
Net Unrealized Gains (Losses) on Derivative Instruments | ||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | ||
Accumulated other comprehensive income, beginning balance | (1,998) | (1,422) |
Other comprehensive income (loss) before reclassifications | (152) | 258 |
Amounts reclassified from accumulated OCI | 12 | 15 |
Net other comprehensive income (loss) | (140) | 273 |
Accumulated other comprehensive income, ending balance | (2,138) | (1,149) |
Defined Benefit Postretirement Plans | ||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | ||
Accumulated other comprehensive income, beginning balance | 6,654 | 6,870 |
Other comprehensive income (loss) before reclassifications | 0 | 0 |
Amounts reclassified from accumulated OCI | (491) | (465) |
Net other comprehensive income (loss) | (491) | (465) |
Accumulated other comprehensive income, ending balance | $ 6,163 | $ 6,405 |
Segment Information (Summary Of
Segment Information (Summary Of Operating Revenues And Expenses) (Narrative) (Details) $ in Millions | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2023 USD ($) segment | Mar. 31, 2022 USD ($) | Dec. 31, 2022 USD ($) | |
Segment Reporting Information [Line Items] | |||
Segment Reporting Information Operations And Support Expenses | $ 19,506 | $ 19,713 | |
Number of reportable segments | segment | 2 | ||
Corporate, non-segment [Member] | |||
Segment Reporting Information [Line Items] | |||
Segment Reporting Information Operations And Support Expenses | $ 692 | $ 626 | |
Corporate, non-segment [Member] | Revision of Prior Period, Reclassification, Adjustment [Member] | |||
Segment Reporting Information [Line Items] | |||
Segment Reporting Information Operations And Support Expenses | $ 2,400,000 |
Segment Information (Summary _2
Segment Information (Summary Of Operating Revenues And Expenses) (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Segment Reporting Information [Line Items] | ||
Revenues | $ 30,139 | $ 29,712 |
Operations and Support Expenses | 19,506 | 19,713 |
EBITDA | 10,633 | 9,999 |
Depreciation and Amortization | 4,631 | 4,462 |
Operating Income (Loss) | 6,002 | 5,537 |
Operating Segments | ||
Segment Reporting Information [Line Items] | ||
Revenues | 30,035 | 29,566 |
Operations and Support Expenses | 18,858 | 18,896 |
EBITDA | 11,177 | 10,670 |
Depreciation and Amortization | 4,464 | 4,285 |
Operating Income (Loss) | 6,713 | 6,385 |
Total Corporate | ||
Segment Reporting Information [Line Items] | ||
Revenues | 104 | 146 |
Operations and Support Expenses | 692 | 626 |
EBITDA | (588) | (480) |
Depreciation and Amortization | 150 | 150 |
Operating Income (Loss) | (738) | (630) |
DTV-related retained costs | ||
Segment Reporting Information [Line Items] | ||
Revenues | 0 | 8 |
Operations and Support Expenses | 169 | 160 |
EBITDA | (169) | (152) |
Depreciation and Amortization | 144 | 134 |
Operating Income (Loss) | (313) | (286) |
Parent Administration Support | ||
Segment Reporting Information [Line Items] | ||
Revenues | (9) | (12) |
Operations and Support Expenses | 374 | 347 |
EBITDA | (383) | (359) |
Depreciation and Amortization | 1 | 6 |
Operating Income (Loss) | (384) | (365) |
Securitization Fees | ||
Segment Reporting Information [Line Items] | ||
Revenues | 19 | 16 |
Operations and Support Expenses | 121 | 82 |
EBITDA | (102) | (66) |
Depreciation and Amortization | 0 | 0 |
Operating Income (Loss) | (102) | (66) |
Value Portfolio | ||
Segment Reporting Information [Line Items] | ||
Revenues | 94 | 134 |
Operations and Support Expenses | 28 | 37 |
EBITDA | 66 | 97 |
Depreciation and Amortization | 5 | 10 |
Operating Income (Loss) | 61 | 87 |
Certain significant items | ||
Segment Reporting Information [Line Items] | ||
Revenues | 0 | 0 |
Operations and Support Expenses | (44) | 191 |
EBITDA | 44 | (191) |
Depreciation and Amortization | 17 | 27 |
Operating Income (Loss) | 27 | (218) |
Total Corporate and Other | ||
Segment Reporting Information [Line Items] | ||
Revenues | 104 | 146 |
Operations and Support Expenses | 648 | 817 |
EBITDA | (544) | (671) |
Depreciation and Amortization | 167 | 177 |
Operating Income (Loss) | (711) | (848) |
Communications | Operating Segments | ||
Segment Reporting Information [Line Items] | ||
Revenues | 29,152 | 28,876 |
Operations and Support Expenses | 18,120 | 18,265 |
EBITDA | 11,032 | 10,611 |
Depreciation and Amortization | 4,289 | 4,124 |
Operating Income (Loss) | 6,743 | 6,487 |
Communications | Mobility | Operating Segments | ||
Segment Reporting Information [Line Items] | ||
Revenues | 20,582 | 20,075 |
Operations and Support Expenses | 12,213 | 12,327 |
EBITDA | 8,369 | 7,748 |
Depreciation and Amortization | 2,098 | 2,059 |
Operating Income (Loss) | 6,271 | 5,689 |
Communications | Business Wireline | Operating Segments | ||
Segment Reporting Information [Line Items] | ||
Revenues | 5,331 | 5,640 |
Operations and Support Expenses | 3,623 | 3,702 |
EBITDA | 1,708 | 1,938 |
Depreciation and Amortization | 1,330 | 1,299 |
Operating Income (Loss) | 378 | 639 |
Communications | Consumer Wireline | Operating Segments | ||
Segment Reporting Information [Line Items] | ||
Revenues | 3,239 | 3,161 |
Operations and Support Expenses | 2,284 | 2,236 |
EBITDA | 955 | 925 |
Depreciation and Amortization | 861 | 766 |
Operating Income (Loss) | 94 | 159 |
Latin America - Mexico | Operating Segments | ||
Segment Reporting Information [Line Items] | ||
Revenues | 883 | 690 |
Operations and Support Expenses | 738 | 631 |
EBITDA | 145 | 59 |
Depreciation and Amortization | 175 | 161 |
Operating Income (Loss) | $ (30) | $ (102) |
Segment Information (Reconcilia
Segment Information (Reconciliation Of Operating Income Loss to Consolidated Statement Of Income) (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | ||
AT&T Operating Income | $ 6,002 | $ 5,537 |
Interest expense | 1,708 | 1,626 |
Equity in net income of affiliates | 538 | 521 |
Other income (expense) — net | 935 | 2,157 |
Income from Continuing Operations Before Income Taxes | 5,767 | 6,589 |
Operating Segments | ||
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | ||
AT&T Operating Income | 6,713 | 6,385 |
Operating Segments | Communications | ||
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | ||
AT&T Operating Income | 6,743 | 6,487 |
Operating Segments | Latin America | ||
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | ||
AT&T Operating Income | (30) | (102) |
Corporate | ||
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | ||
AT&T Operating Income | (738) | (630) |
Reconciling Items | ||
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | ||
Transaction and other costs | 0 | (98) |
Amortization of intangibles acquired | (17) | (27) |
Benefit-related gains (losses) | $ 44 | $ (93) |
Revenue Recognition (Revenue Ca
Revenue Recognition (Revenue Categories) (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | $ 30,139 | $ 29,712 |
Total Service | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 24,617 | 23,999 |
Wireless service | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 16,074 | 15,214 |
Business service | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 5,200 | 5,478 |
Broadband | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 2,527 | 2,355 |
Legacy voice and data | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 479 | 549 |
Other | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 337 | 403 |
Equipment | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 5,522 | 5,713 |
Operating Segments | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 30,035 | 29,566 |
Operating Segments | Communications | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 29,152 | 28,876 |
Operating Segments | Communications | Mobility | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 20,582 | 20,075 |
Operating Segments | Communications | Mobility | Total Service | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 15,483 | 14,724 |
Operating Segments | Communications | Mobility | Wireless service | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 15,483 | 14,724 |
Operating Segments | Communications | Mobility | Business service | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 0 | 0 |
Operating Segments | Communications | Mobility | Broadband | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 0 | 0 |
Operating Segments | Communications | Mobility | Legacy voice and data | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 0 | 0 |
Operating Segments | Communications | Mobility | Other | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 0 | 0 |
Operating Segments | Communications | Mobility | Equipment | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 5,099 | 5,351 |
Operating Segments | Communications | Business Wireline | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 5,331 | 5,640 |
Operating Segments | Communications | Business Wireline | Total Service | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 5,200 | 5,478 |
Operating Segments | Communications | Business Wireline | Wireless service | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 0 | 0 |
Operating Segments | Communications | Business Wireline | Business service | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 5,200 | 5,478 |
Operating Segments | Communications | Business Wireline | Broadband | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 0 | 0 |
Operating Segments | Communications | Business Wireline | Legacy voice and data | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 0 | 0 |
Operating Segments | Communications | Business Wireline | Other | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 0 | 0 |
Operating Segments | Communications | Business Wireline | Equipment | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 131 | 162 |
Operating Segments | Communications | Consumer Wireline | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 3,239 | 3,161 |
Operating Segments | Communications | Consumer Wireline | Total Service | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 3,239 | 3,161 |
Operating Segments | Communications | Consumer Wireline | Wireless service | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 0 | 0 |
Operating Segments | Communications | Consumer Wireline | Business service | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 0 | 0 |
Operating Segments | Communications | Consumer Wireline | Broadband | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 2,527 | 2,355 |
Operating Segments | Communications | Consumer Wireline | Legacy voice and data | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 396 | 460 |
Operating Segments | Communications | Consumer Wireline | Other | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 316 | 346 |
Operating Segments | Communications | Consumer Wireline | Equipment | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 0 | 0 |
Operating Segments | Latin America | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 883 | 690 |
Operating Segments | Latin America | Total Service | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 591 | 490 |
Operating Segments | Latin America | Wireless service | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 591 | 490 |
Operating Segments | Latin America | Business service | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 0 | 0 |
Operating Segments | Latin America | Broadband | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 0 | 0 |
Operating Segments | Latin America | Legacy voice and data | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 0 | 0 |
Operating Segments | Latin America | Other | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 0 | 0 |
Operating Segments | Latin America | Equipment | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 292 | 200 |
Corporate | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 104 | 146 |
Corporate | Total Service | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 104 | 146 |
Corporate | Wireless service | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 0 | 0 |
Corporate | Business service | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 0 | 0 |
Corporate | Broadband | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 0 | 0 |
Corporate | Legacy voice and data | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 83 | 89 |
Corporate | Other | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | 21 | 57 |
Corporate | Equipment | ||
Disaggregation of Revenue [Line Items] | ||
Total operating revenues | $ 0 | $ 0 |
Revenue Recognition (Narrative)
Revenue Recognition (Narrative) (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2023 | Dec. 31, 2022 | |
Contract with Customer, Asset and Liability [Abstract] | ||
Beginning of period contract liability recorded as customer contract revenue during period | $ 2,821 | |
Revenue, Performance Obligation [Abstract] | ||
Aggregate amount of the transaction price allocated to remaining performance obligations | 36,722 | |
Prepaid and other current assets | ||
Contract with Customer, Asset and Liability [Abstract] | ||
Contract asset balance - current portion | 3,058 | $ 2,941 |
Deferred Acquisition Costs | ||
Capitalized Contract Cost [Line Items] | ||
Excluded deferred costs | 6,950 | 6,806 |
Deferred Acquisition Costs | Prepaid and other current assets | ||
Capitalized Contract Cost [Line Items] | ||
Excluded deferred costs | 2,988 | 2,893 |
Deferred Acquisition Costs | Other Assets | ||
Capitalized Contract Cost [Line Items] | ||
Excluded deferred costs | $ 3,962 | 3,913 |
Deferred Acquisition Costs | Minimum | ||
Capitalized Contract Cost [Line Items] | ||
Amortization period for deferred customer contract acquisition and fulfillment costs | 3 years | |
Deferred Acquisition Costs | Maximum | ||
Capitalized Contract Cost [Line Items] | ||
Amortization period for deferred customer contract acquisition and fulfillment costs | 5 years | |
Deferred Fulfillment Costs | ||
Capitalized Contract Cost [Line Items] | ||
Excluded deferred costs | $ 6,566 | 6,687 |
Deferred Fulfillment Costs | Prepaid and other current assets | ||
Capitalized Contract Cost [Line Items] | ||
Excluded deferred costs | 2,433 | 2,481 |
Deferred Fulfillment Costs | Other Assets | ||
Capitalized Contract Cost [Line Items] | ||
Excluded deferred costs | $ 4,133 | $ 4,206 |
Deferred Fulfillment Costs | Minimum | ||
Capitalized Contract Cost [Line Items] | ||
Amortization period for deferred customer contract acquisition and fulfillment costs | 3 years | |
Deferred Fulfillment Costs | Maximum | ||
Capitalized Contract Cost [Line Items] | ||
Amortization period for deferred customer contract acquisition and fulfillment costs | 5 years |
Revenue Recognition (Deferred C
Revenue Recognition (Deferred Contract Acquisition and Fulfillment Costs) (Details) - USD ($) $ in Millions | 3 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Dec. 31, 2022 | |
Deferred Acquisition Costs | |||
Capitalized Contract Cost, Net [Abstract] | |||
Total deferred costs | $ 6,950 | $ 6,806 | |
Deferred cost amortization | 830 | $ 663 | |
Deferred Acquisition Costs | Prepaid and other current assets | |||
Capitalized Contract Cost, Net [Abstract] | |||
Total deferred costs | 2,988 | 2,893 | |
Deferred Acquisition Costs | Other Assets | |||
Capitalized Contract Cost, Net [Abstract] | |||
Total deferred costs | 3,962 | 3,913 | |
Deferred Fulfillment Costs | |||
Capitalized Contract Cost, Net [Abstract] | |||
Total deferred costs | 6,566 | 6,687 | |
Deferred cost amortization | 678 | $ 664 | |
Deferred Fulfillment Costs | Prepaid and other current assets | |||
Capitalized Contract Cost, Net [Abstract] | |||
Total deferred costs | 2,433 | 2,481 | |
Deferred Fulfillment Costs | Other Assets | |||
Capitalized Contract Cost, Net [Abstract] | |||
Total deferred costs | $ 4,133 | $ 4,206 |
Revenue Recognition (Contract A
Revenue Recognition (Contract Assets and Liabilities) (Details) - USD ($) $ in Millions | Mar. 31, 2023 | Dec. 31, 2022 |
Capitalized Contract Cost [Line Items] | ||
Contract asset | $ 5,812 | $ 5,512 |
Contract liability | 4,158 | 4,170 |
Prepaid and other current assets | ||
Capitalized Contract Cost [Line Items] | ||
Contract asset balance - current portion | 3,058 | 2,941 |
Advanced billings and customer deposits | ||
Capitalized Contract Cost [Line Items] | ||
Contract liability balance - current portion | $ 3,818 | $ 3,816 |
Revenue Recognition (Remaining
Revenue Recognition (Remaining Performance Obligations) (Details) | Mar. 31, 2023 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-04-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Aggregate amount of the transaction price allocated to remaining performance obligations (percentage) | 70% |
Expected timing of satisfaction for remaining performance obligations, period | 21 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) | 30% |
Expected timing of satisfaction for remaining performance obligations, period |
Pension And Postretirement Be_4
Pension And Postretirement Benefits (Qualified Pension and Postretirement Benefit Cost) (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Defined Benefit Plan Disclosure [Line Items] | ||
Net (credit) cost | $ (670) | $ (1,952) |
Pension Plan | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Service cost – benefits earned during the period | 121 | 183 |
Interest cost on projected / accumulated postretirement benefit obligation | 516 | 320 |
Defined Benefit Plan, Expected Return (Loss) on Plan Assets | 714 | 868 |
Amortization of prior service credit | (33) | (33) |
Net periodic benefit (credit) costs | (110) | (398) |
Actuarial (gain) loss | 0 | 1,012 |
Net (credit) cost | (110) | (1,410) |
Postretirement Benefits | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Service cost – benefits earned during the period | 6 | 9 |
Interest cost on projected / accumulated postretirement benefit obligation | 85 | 63 |
Defined Benefit Plan, Expected Return (Loss) on Plan Assets | 33 | 32 |
Amortization of prior service credit | (618) | (582) |
Net (credit) cost | $ (560) | $ (542) |
Pension And Postretirement Be_5
Pension And Postretirement Benefits (Narrative) (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Defined Benefit Plan Disclosure [Line Items] | ||
Actuarial Gain (Loss) | $ 0 | $ 1,053 |
Pension Plan | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actuarial Gain (Loss), Immediate Recognition as Component in Net Periodic Benefit (Cost) Credit | 0 | (1,012) |
Net periodic benefit (credit) costs | (110) | (398) |
Supplemental Retirement and Savings Plans | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Net periodic benefit (credit) costs | $ 19 | $ 12 |
Fair Value Measurements And D_3
Fair Value Measurements And Disclosure (Long-Term Debt And Other Financial Instruments) (Details) - USD ($) $ in Millions | Mar. 31, 2023 | Dec. 31, 2022 |
Carrying Amount | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Notes and debentures | $ 132,260 | $ 133,207 |
Commercial paper | 3,258 | 866 |
Investment securities | 2,762 | 2,692 |
Fair Value | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Notes and debentures | 126,075 | 122,524 |
Commercial paper | 3,258 | 866 |
Investment securities | $ 2,762 | $ 2,692 |
Fair Value Measurements And D_4
Fair Value Measurements And Disclosure (Fair Value Leveling) (Details) - USD ($) $ in Millions | Mar. 31, 2023 | Dec. 31, 2022 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-Sale Debt Securities | $ 1,214 | $ 1,132 |
Interest rate swaps | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Asset Derivatives | 7 | |
Cross-currency swaps | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Asset Derivatives | 45 | 28 |
Liability Derivatives | (5,485) | (6,010) |
Foreign exchange contracts | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Liability Derivatives | (20) | (23) |
Fixed income equities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity Securities | 203 | 189 |
Domestic equities | Securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity Securities | 986 | 995 |
International equities | Securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity Securities | 184 | 198 |
Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-Sale Debt Securities | 0 | 0 |
Level 1 | Interest rate swaps | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Asset Derivatives | 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 | 0 |
Level 1 | Fixed income equities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity Securities | 203 | 189 |
Level 1 | Domestic equities | Securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity Securities | 986 | 995 |
Level 1 | International equities | Securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity Securities | 184 | 198 |
Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-Sale Debt Securities | 1,214 | 1,132 |
Level 2 | Interest rate swaps | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Asset Derivatives | 7 | |
Level 2 | Cross-currency swaps | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Asset Derivatives | 45 | 28 |
Liability Derivatives | (5,485) | (6,010) |
Level 2 | Foreign exchange contracts | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Liability Derivatives | (20) | (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 | Interest rate swaps | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Asset Derivatives | 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 | 0 |
Level 3 | Fixed income equities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity Securities | 0 | 0 |
Level 3 | Domestic equities | Securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity Securities | 0 | 0 |
Level 3 | International equities | Securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity Securities | $ 0 | $ 0 |
Fair Value Measurements And D_5
Fair Value Measurements And Disclosure (Gain and Losses on Equity Securities) (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Fair Value Disclosures [Abstract] | ||
Total gains (losses) recognized on equity securities | $ 83 | $ (95) |
Gains (losses) recognized on equity securities sold | 4 | (7) |
Unrealized gains (losses) recognized on equity securities held at end of period | $ 79 | $ (88) |
Fair Value Measurements And D_6
Fair Value Measurements And Disclosure (Narrative) (Details) - USD ($) $ in Millions | 9 Months Ended | ||
Sep. 30, 2022 | Mar. 31, 2023 | Dec. 31, 2022 | |
Fair Value Disclosures [Abstract] | |||
Available-for-sale debt securities | $ 1,214 | $ 1,132 | |
Available-for-sale debt securities - maturities less than 1 year | 39 | ||
Available-for-sale debt securities - maturities within 1 to 3 years | 192 | ||
Available-for-sale debt securities - maturities within 3 to 5 years | 167 | ||
Available-for-sale debt securities - maturities for 5 or more years | 816 | ||
Fair Value, Option, Quantitative Disclosures [Line Items] | |||
Gain (Loss) recognized in accumulated OCI | $ 1,857 | ||
Anticipated reclassification of holding losses during the next 12 months - cash flow hedges | 59 | ||
Collateral submitted to counterparty | 50 | 886 | |
Collateral received from counterparty | 0 | $ 0 | |
Collateral contingently payable to the counterparty | 55 | ||
Measurement Input, Entity Credit Risk | |||
Fair Value, Option, Quantitative Disclosures [Line Items] | |||
Collateral contingently payable to the counterparty | $ 5,348 |
Fair Value Measurements And D_7
Fair Value Measurements And Disclosure (Notional Amount Of Our Outstanding Derivative Positions) (Details) - USD ($) $ in Millions | Mar. 31, 2023 | Dec. 31, 2022 |
Derivative [Line Items] | ||
Notional amounts of outstanding derivative positions | $ 40,275 | $ 38,830 |
Interest rate swaps | ||
Derivative [Line Items] | ||
Notional amounts of outstanding derivative positions | 1,750 | 0 |
Cross-currency swaps | ||
Derivative [Line Items] | ||
Notional amounts of outstanding derivative positions | 37,908 | 38,213 |
Foreign exchange contracts | ||
Derivative [Line Items] | ||
Notional amounts of outstanding derivative positions | $ 617 | $ 617 |
Fair Value Measurements And D_8
Fair Value Measurements And Disclosure (Effect Of Derivatives On The Consolidated Statements Of Income) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | Sep. 30, 2022 | |
Derivative Instruments, Gain (Loss) [Line Items] | |||
Gain (loss) recognized in accumulated OCI | $ (1,857) | ||
Interest rate swaps | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Gain (loss) on interest rate swaps | $ 7 | $ (1) | |
Gain (loss) on long-term debt | (7) | 1 | |
Cross-currency swaps | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Gain (loss) on interest rate swaps | 380 | (37) | |
Gain (loss) on long-term debt | (380) | 37 | |
Gain (loss) recognized in accumulated OCI | (182) | 9 | |
Gain (loss) recognized in accumulated OCI | (10) | 315 | |
Foreign exchange contracts | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Gain (loss) on interest rate swaps | 7 | 0 | |
Gain (loss) on long-term debt | (7) | 0 | |
Gain (loss) recognized in accumulated OCI | (3) | 0 | |
Gain (loss) recognized in accumulated OCI | 0 | 3 | |
Foreign exchange contracts | Other income (expense) - net | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Amount reclassified from accumulated OCI into income | 0 | 1 | |
Interest rate locks | Interest income (expense) | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Amount reclassified from accumulated OCI into income | $ (15) | $ (20) |
Sales Of Receivables (Summary o
Sales Of Receivables (Summary of Receivables Sold) (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Net cash received from equipment installment receivables | $ (104) | $ 1,314 |
Equipment Installment | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Net cash received from equipment installment receivables | 10 | 1,026 |
Cash proceeds received | 2,529 | 3,316 |
Other Sales of Receivables | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Net cash received from equipment installment receivables | $ (114) | $ 288 |
Sales Of Receivables (Equipment
Sales Of Receivables (Equipment Installment and AT&T Revolving Programs) (Details) - Equipment Installment - USD ($) $ in Millions | Mar. 31, 2023 | Dec. 31, 2022 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Gross receivable | $ 4,109 | $ 4,165 |
Other Assets | 2,112 | 1,854 |
Outstanding portfolio of receivables derecognized from our consolidated balance sheets | 11,221 | 11,030 |
Cash proceeds received, net of remittances | 8,529 | 8,519 |
Notes receivable | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Accounts receivable | 1,387 | 1,789 |
Trade receivables | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Accounts receivable | $ 610 | $ 522 |
Sales Of Receivables (Finance R
Sales Of Receivables (Finance Receivables) (Details) - Equipment Installment - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Gross receivables sold1 | $ 2,560 | $ 3,601 |
Net receivables sold | 2,438 | 3,478 |
Cash proceeds received | 2,529 | 3,316 |
Deferred purchase price recorded | 0 | 245 |
Guarantee obligation recorded | $ 206 | $ 152 |
Sales Of Receivables (Finance_2
Sales Of Receivables (Finance Receivables Repurchased) (Details) - Equipment Installment - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Fair value of repurchased receivables | $ 541 | $ 905 |
Carrying value of deferred purchase price | 542 | 902 |
Gain on repurchases | $ (1) | $ 3 |
Sales Of Receivables (Equipme_2
Sales Of Receivables (Equipment Installment and AT&T Revolving Programs) (Narrative) (Details) - Equipment Installment Program - USD ($) $ in Millions | Mar. 31, 2023 | Dec. 31, 2022 |
Guarantee Obligation | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Guarantee obligation | $ 399 | $ 419 |
Accounts payable and accrued liabilities | Guarantee Obligation | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Guarantee obligation | 55 | 73 |
Deferred Purchase Price Receivable | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Deferred purchase price receivable | 2,451 | 2,318 |
Deferred Purchase Price Receivable | Prepaid and other current assets | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Deferred purchase price receivable | $ 1,395 | $ 1,278 |
Leases (Narrative) (Details)
Leases (Narrative) (Details) - Maximum | Mar. 31, 2023 |
Lessee, Lease, Description [Line Items] | |
Operating Lease, remaining term of contract | 15 years |
Finance Lease, remaining term of contract | 15 years |
Leases (Components of Lease Exp
Leases (Components of Lease Expense) (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Leases [Abstract] | ||
Operating lease cost | $ 1,395 | $ 1,347 |
Finance lease cost: | ||
Amortization of right-of-use assets | 57 | 45 |
Interest on lease obligation | 46 | 37 |
Total finance lease cost | $ 103 | $ 82 |
Leases (Supplemental Cash Flow
Leases (Supplemental Cash Flow Information Related to Leases) (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Cash Flows from Operating Activities | ||
Operating cash flows for operating leases | $ 1,166 | $ 1,173 |
Supplemental Lease Cash Flow Disclosures | ||
Operating lease right-of-use assets obtained in exchange for new operating lease obligations | $ 707 | $ 689 |
Leases (Supplemental Balance Sh
Leases (Supplemental Balance Sheet Information Related to Leases) (Details) - USD ($) $ in Millions | Mar. 31, 2023 | Dec. 31, 2022 | Mar. 31, 2022 |
Operating Leases | |||
Operating lease right-of-use assets | $ 21,619 | $ 21,814 | |
Accounts payable and accrued liabilities | $ 3,530 | $ 3,547 | |
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration] | Accounts payable and accrued liabilities | Accounts payable and accrued liabilities | |
Operating lease obligation | $ 18,413 | $ 18,659 | |
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration] | Operating lease obligation | Operating lease obligation | |
Total operating lease obligation | $ 21,943 | $ 22,206 | |
Finance Leases | |||
Property, plant and equipment, at cost | 2,972 | 2,770 | |
Accumulated depreciation and amortization | (1,314) | (1,224) | |
Property, plant and equipment, net | $ 1,658 | $ 1,546 | |
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration] | Property, Plant, and Equipment and Finance Lease Right-of-Use Asset, after Accumulated Depreciation and Amortization | Property, Plant, and Equipment and Finance Lease Right-of-Use Asset, after Accumulated Depreciation and Amortization | |
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration] | Debt maturing within one year | Debt maturing within one year | |
Current portion of long-term debt | $ 209 | $ 170 | |
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration] | Long-Term Debt | Long-Term Debt | |
Long-term debt | $ 1,758 | $ 1,647 | |
Total finance lease obligation | $ 1,967 | $ 1,817 | |
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 3 months 18 days | 8 years 6 months | |
Weighted-Average Discount Rate, Operating leases | 3.80% | 3.70% | |
Weighted-Average Discount Rate, Finance leases | 7.80% | 8.10% |
Leases (Future Minimum Maturiti
Leases (Future Minimum Maturities of Lease Liabilities) (Details) - USD ($) $ in Millions | Mar. 31, 2023 | Dec. 31, 2022 |
Operating Leases | ||
Remainder of 2023 | $ 3,537 | |
2024 | 4,309 | |
2025 | 3,652 | |
2026 | 2,942 | |
2027 | 2,415 | |
Thereafter | 9,427 | |
Total lease payments | 26,282 | |
Less: imputed interest | (4,339) | |
Total | 21,943 | $ 22,206 |
Finance Leases | ||
Remainder of 2023 | 273 | |
2024 | 364 | |
2025 | 367 | |
2026 | 309 | |
2027 | 306 | |
Thereafter | 1,091 | |
Total lease payments | 2,710 | |
Less: imputed interest | (743) | |
Total | $ 1,967 | $ 1,817 |
Transactions with DIRECTV (Deta
Transactions with DIRECTV (Details) - USD ($) $ in Millions | 3 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Dec. 31, 2022 | |
Related Party Transaction [Line Items] | |||
Equity in net income of affiliates | $ 538 | $ 521 | |
Investments in and Advances to Equity Affiliates | 2,810 | $ 3,533 | |
Proceeds from (Repayments of) Related Party Debt | 130 | 294 | |
Segment Reporting Information Operations And Support Expenses | 19,506 | 19,713 | |
DTV-related retained costs | |||
Related Party Transaction [Line Items] | |||
Segment Reporting Information Operations And Support Expenses | 169 | ||
DIRECTV | |||
Related Party Transaction [Line Items] | |||
Equity in net income of affiliates | 534 | 522 | |
Investments in and Advances to Equity Affiliates | $ 2,142 | ||
Network Transport For Products and Sales Services Under Commercial Arrangements Period | 5 years | ||
Operational Support Services Agreement Period | 3 years | ||
Accounts Receivable, Related Parties | $ 320 | ||
Accounts Payable, Related Parties | 80 | ||
DIRECTV | Equity Method Investee [Member] | |||
Related Party Transaction [Line Items] | |||
Proceeds from Equity Method Investment, Distribution | 1,308 | 1,837 | |
Related Party Costs | 240 | ||
Operating Activities [Member] | DIRECTV | Equity Method Investee [Member] | |||
Related Party Transaction [Line Items] | |||
Proceeds from Equity Method Investment, Distribution | 534 | 522 | |
Investing Activities [Member] | DIRECTV | Equity Method Investee [Member] | |||
Related Party Transaction [Line Items] | |||
Proceeds from Equity Method Investment, Distribution | $ 774 | $ 1,315 |
Supplier and Vendor Financing_2
Supplier and Vendor Financing Programs (Details) - USD ($) $ in Millions | 3 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Dec. 31, 2022 | |
Other Significant Noncash Transactions [Line Items] | |||
Vendor financing payables | $ 5,003 | $ 6,147 | |
Vendor financing payables due within one year | 3,531 | 4,592 | |
Supplier Financing Program | |||
Other Significant Noncash Transactions [Line Items] | |||
Supplier Financing Program Obligations | 2,557 | 2,869 | |
Direct Supplier Financing Program | |||
Other Significant Noncash Transactions [Line Items] | |||
Supplier Financing Program Obligations | 5,129 | $ 5,486 | |
Vendor Financing Program | |||
Other Significant Noncash Transactions [Line Items] | |||
Noncash investing activities | $ 1,021 | $ 954 |
Additional Financial Informat_3
Additional Financial Information (Cash and Cash Equivalents and Restricted Cash Balances) (Details) - USD ($) $ in Millions | Mar. 31, 2023 | Dec. 31, 2022 | Mar. 31, 2022 | Dec. 31, 2021 |
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents [Abstract] | ||||
Cash and cash equivalents from continuing operations | $ 2,821 | $ 3,701 | $ 17,084 | $ 19,223 |
Cash and cash equivalents from discontinued operations | 0 | 0 | 21,481 | 1,946 |
Restricted cash in Prepaid and other current assets | 1 | 1 | 2 | 3 |
Restricted cash in Other Assets | 120 | 91 | 81 | 144 |
Cash and Cash Equivalents and Restricted Cash | $ 2,942 | $ 3,793 | $ 38,648 | $ 21,316 |
Additional Financial Informat_4
Additional Financial Information (Summary of Cash Paid for Interest and Taxes) (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Cash paid (received) during the period for: | ||
Interest | $ 1,971 | $ 2,154 |
Income taxes, net of refunds | 10 | 72 |
Payments to Acquire Property, Plant and Equipment | 4,335 | 4,568 |
Interest during construction | 272 | 324 |
Acquisitions | 291 | 9,244 |
Business acquisitions | ||
Cash paid (received) during the period for: | ||
Acquisitions | 0 | 0 |
Spectrum Licenses | ||
Cash paid (received) during the period for: | ||
Acquisitions | 63 | 8,956 |
Interest during construction | 228 | 288 |
Property, Plant and Equipment [Member] | ||
Cash paid (received) during the period for: | ||
Payments to Acquire Property, Plant and Equipment | 4,291 | 4,532 |
Interest during construction | $ 44 | $ 36 |
Subsequent Events (Preferred In
Subsequent Events (Preferred Interest) (Details) shares in Millions, $ in Millions | 3 Months Ended | ||
Apr. 04, 2023 USD ($) shares | Mar. 31, 2023 USD ($) period | Apr. 18, 2023 USD ($) | |
Subsequent Event [Line Items] | |||
Option to require redemption, certain contingent events, failure of Telco LLC to pay preferred distributions, minimum number of periods | period | 2 | ||
Telco LLC | Subsequent Event | |||
Subsequent Event [Line Items] | |||
Nonconvertible cumulative preferred interests issued | $ 7,250 | ||
Telco LLC | Class A-2 And Class A-3 | Subsequent Event | |||
Subsequent Event [Line Items] | |||
Nonconvertible cumulative preferred interests issued | $ 5,250 | ||
Initial preferred distribution percentage | 6.85% | ||
Distribution reset period | 7 years | ||
AT&T Mobility II, LLC | Preferred Stock - Series A | |||
Subsequent Event [Line Items] | |||
Put or redemption option, minimum exercise price calculation, value added to accrued and unpaid distributions in the aggregate | $ 5,320 | ||
AT&T Mobility II, LLC | Preferred Stock - Series A | Subsequent Event | |||
Subsequent Event [Line Items] | |||
Stock Redeemed or Called During Period, Shares | shares | 213 | ||
Stock Redeemed or Called During Period, Value | $ 5,414 | ||
AT&T Mobility II, LLC | Accounts payable and accrued liabilities | Preferred Stock - Series A | |||
Subsequent Event [Line Items] | |||
Put or redemption option, minimum exercise price calculation, value added to accrued and unpaid distributions in the aggregate | 2,650 | ||
AT&T Mobility II, LLC | Other Noncurrent Liabilities [Member] | Preferred Stock - Series A | |||
Subsequent Event [Line Items] | |||
Put or redemption option, minimum exercise price calculation, value added to accrued and unpaid distributions in the aggregate | $ 2,670 |
Subsequent Events (AT&T Pension
Subsequent Events (AT&T Pension Benefits Plan) (Details) - Pension Plan - Subsequent Event | 3 Months Ended | |
Apr. 26, 2023 USD ($) employee | Jun. 30, 2023 USD ($) | |
Subsequent Event [Line Items] | ||
Defined Benefit Plan, Benefit Obligation, (Increase) Decrease for Settlement | $ 8,050,000,000 | |
Defined Benefit Plan Number Of Participants | employee | 96,000 | |
Defined Benefit Plan, Plan Assets, Contributions by Employer | $ 0 | |
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Settlement | $ 350,000,000 |