Document and Entity Information
Document and Entity Information | Jun. 21, 2021 |
Entity Listings [Line Items] | |
Document Type | 8-K |
Document Period End Date | Jun. 21, 2021 |
Entity File Number | 001-08610 |
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 |
Written Communications | false |
Soliciting Material | false |
Pre-commencement Tender Offer | false |
Pre-commencement Issuer Tender Offer | false |
Entity Emerging Growth Company | false |
Amendment Flag | false |
Entity Central Index Key | 0000732717 |
Common Shares (Par Value $1.00 Per Share) | |
Entity Listings [Line Items] | |
Title of 12(b) Security | Common Shares (Par Value $1.00 Per Share) |
Trading Symbol | T |
Security Exchange Name | NYSE |
Depositary Shares, each representing a 1/1000th interest in a share of 5.000% Perpetual Preferred Stock, Series A | |
Entity Listings [Line Items] | |
Title of 12(b) Security | Depositary Shares, each representing a 1/1000th interest in a share 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 a share of 4.750% Perpetual Preferred Stock, Series C |
Trading Symbol | T PRC |
Security Exchange Name | NYSE |
AT&T Inc. 2.650% Global Notes due December 17, 2021 | |
Entity Listings [Line Items] | |
Title of 12(b) Security | AT&T Inc. 2.650% Global Notes due December 17, 2021 |
Trading Symbol | T 21B |
Security Exchange Name | NYSE |
AT&T Inc. 1.450% Global Notes due June 1, 2022 | |
Entity Listings [Line Items] | |
Title of 12(b) Security | AT&T Inc. 1.450% Global Notes due June 1, 2022 |
Trading Symbol | T 22B |
Security Exchange Name | NYSE |
AT&T Inc. 2.500% Global Notes due March 15, 2023 | |
Entity Listings [Line Items] | |
Title of 12(b) Security | AT&T Inc. 2.500% Global Notes due March 15, 2023 |
Trading Symbol | T 23 |
Security Exchange Name | NYSE |
AT&T Inc. 2.750% Global Notes due May 19, 2023 | |
Entity Listings [Line Items] | |
Title of 12(b) Security | AT&T Inc. 2.750% Global Notes due May 19, 2023 |
Trading Symbol | T 23C |
Security Exchange Name | NYSE |
AT&T Inc. Floating Rate Global Notes due September 5, 2023 | |
Entity Listings [Line Items] | |
Title of 12(b) Security | AT&T Inc. Floating Rate Global Notes due September 5, 2023 |
Trading Symbol | T 23D |
Security Exchange Name | NYSE |
AT&T Inc. 1.050% Global Notes due September 5, 2023 | |
Entity Listings [Line Items] | |
Title of 12(b) Security | AT&T Inc. 1.050% Global Notes due September 5, 2023 |
Trading Symbol | T 23E |
Security Exchange Name | NYSE |
AT&T Inc. 1.300% Global Notes due September 5, 2023 | |
Entity Listings [Line Items] | |
Title of 12(b) Security | AT&T Inc. 1.300% Global Notes due September 5, 2023 |
Trading Symbol | T 23A |
Security Exchange Name | NYSE |
AT&T Inc. 1.950% Global Notes due September 15, 2023 | |
Entity Listings [Line Items] | |
Title of 12(b) Security | AT&T Inc. 1.950% Global Notes due September 15, 2023 |
Trading Symbol | T 23F |
Security Exchange Name | NYSE |
AT&T Inc. 2.400% Global Notes due March 15, 2024 | |
Entity Listings [Line Items] | |
Title of 12(b) Security | AT&T Inc. 2.400% Global Notes due March 15, 2024 |
Trading Symbol | T 24A |
Security Exchange Name | NYSE |
AT&T Inc. 3.500% Global Notes due December 17, 2025 | |
Entity Listings [Line Items] | |
Title of 12(b) Security | AT&T Inc. 3.500% Global Notes due December 17, 2025 |
Trading Symbol | T 25 |
Security Exchange Name | NYSE |
AT&T Inc. 0.250% Global Notes due March 4, 2026 | |
Entity Listings [Line Items] | |
Title of 12(b) Security | AT&T Inc. 0.250% Global Notes due March 4, 2026 |
Trading Symbol | T 26E |
Security Exchange Name | NYSE |
AT&T Inc. 1.800% Global Notes due September 5, 2026 | |
Entity Listings [Line Items] | |
Title of 12(b) Security | AT&T Inc. 1.800% Global Notes due September 5, 2026 |
Trading Symbol | T 26D |
Security Exchange Name | NYSE |
AT&T Inc. 2.900% Global Notes due December 4, 2026 | |
Entity Listings [Line Items] | |
Title of 12(b) Security | AT&T Inc. 2.900% Global Notes due December 4, 2026 |
Trading Symbol | T 26A |
Security Exchange Name | NYSE |
AT&T Inc. 1.600% Global Notes due May 19, 2028 | |
Entity Listings [Line Items] | |
Title of 12(b) Security | AT&T Inc. 1.600% Global Notes due May 19, 2028 |
Trading Symbol | T 28C |
Security Exchange Name | NYSE |
AT&T Inc. 2.350% Global Notes due September 5, 2029 | |
Entity Listings [Line Items] | |
Title of 12(b) Security | AT&T Inc. 2.350% Global Notes due September 5, 2029 |
Trading Symbol | T 29D |
Security Exchange Name | NYSE |
AT&T Inc. 4.375% Global Notes due September 14, 2029 | |
Entity Listings [Line Items] | |
Title of 12(b) Security | AT&T Inc. 4.375% Global Notes due September 14, 2029 |
Trading Symbol | T 29B |
Security Exchange Name | NYSE |
AT&T Inc. 2.600% Global Notes due December 17, 2029 | |
Entity Listings [Line Items] | |
Title of 12(b) Security | AT&T Inc. 2.600% Global Notes due December 17, 2029 |
Trading Symbol | T 29A |
Security Exchange Name | NYSE |
AT&T Inc. 0.800% Global Notes due March 4, 2030 | |
Entity Listings [Line Items] | |
Title of 12(b) Security | AT&T Inc. 0.800% Global Notes due March 4, 2030 |
Trading Symbol | T 30B |
Security Exchange Name | NYSE |
AT&T Inc. 2.050% Global Notes due May 19, 2032 | |
Entity Listings [Line Items] | |
Title of 12(b) Security | AT&T Inc. 2.050% Global Notes due May 19, 2032 |
Trading Symbol | T 32A |
Security Exchange Name | NYSE |
AT&T Inc. 3.550% Global Notes due December 17, 2032 | |
Entity Listings [Line Items] | |
Title of 12(b) Security | AT&T Inc. 3.550% Global Notes due December 17, 2032 |
Trading Symbol | T 32 |
Security Exchange Name | NYSE |
AT&T Inc. 5.200% Global Notes due November 18, 2033 | |
Entity Listings [Line Items] | |
Title of 12(b) Security | AT&T Inc. 5.200% Global Notes due November 18, 2033 |
Trading Symbol | T 33 |
Security Exchange Name | NYSE |
AT&T Inc. 3.375% Global Notes due March 15, 2034 | |
Entity Listings [Line Items] | |
Title of 12(b) Security | AT&T Inc. 3.375% Global Notes due March 15, 2034 |
Trading Symbol | T 34 |
Security Exchange Name | NYSE |
AT&T Inc. 2.450% Global Notes due March 15, 2035 | |
Entity Listings [Line Items] | |
Title of 12(b) Security | AT&T Inc. 2.450% Global Notes due March 15, 2035 |
Trading Symbol | T 35 |
Security Exchange Name | NYSE |
AT&T Inc. 3.150% Global Notes due September 4, 2036 | |
Entity Listings [Line Items] | |
Title of 12(b) Security | AT&T Inc. 3.150% Global Notes due September 4, 2036 |
Trading Symbol | T 36A |
Security Exchange Name | NYSE |
AT&T Inc. 2.600% Global Notes due May 19, 2038 | |
Entity Listings [Line Items] | |
Title of 12(b) Security | AT&T Inc. 2.600% Global Notes due May 19, 2038 |
Trading Symbol | T 38C |
Security Exchange Name | NYSE |
AT&T Inc. 1.800% Global Notes due September 14, 2039 | |
Entity Listings [Line Items] | |
Title of 12(b) Security | AT&T Inc. 1.800% Global Notes due September 14, 2039 |
Trading Symbol | T 39B |
Security Exchange Name | NYSE |
AT&T Inc. 7.000% Global Notes due April 30, 2040 | |
Entity Listings [Line Items] | |
Title of 12(b) Security | AT&T Inc. 7.000% Global Notes due April 30, 2040 |
Trading Symbol | T 40 |
Security Exchange Name | NYSE |
AT&T Inc. 4.250% Global Notes due June 1, 2043 | |
Entity Listings [Line Items] | |
Title of 12(b) Security | AT&T Inc. 4.250% Global Notes due June 1, 2043 |
Trading Symbol | T 43 |
Security Exchange Name | NYSE |
AT&T Inc. 4.875% Global Notes due June 1, 2044 | |
Entity Listings [Line Items] | |
Title of 12(b) Security | AT&T Inc. 4.875% Global Notes due June 1, 2044 |
Trading Symbol | T 44 |
Security Exchange Name | NYSE |
AT&T Inc. 4.000% Global Notes due June 1, 2049 | |
Entity Listings [Line Items] | |
Title of 12(b) Security | AT&T Inc. 4.000% Global Notes due June 1, 2049 |
Trading Symbol | T 49A |
Security Exchange Name | NYSE |
AT&T Inc. 4.250% Global Notes due March 1, 2050 | |
Entity Listings [Line Items] | |
Title of 12(b) Security | AT&T Inc. 4.250% Global Notes due March 1, 2050 |
Trading Symbol | T 50 |
Security Exchange Name | NYSE |
AT&T Inc. 3.750% Global Notes due September 1, 2050 | |
Entity Listings [Line Items] | |
Title of 12(b) Security | AT&T Inc. 3.750% Global Notes due September 1, 2050 |
Trading Symbol | T 50A |
Security Exchange Name | NYSE |
AT&T Inc. 5.350% Global Notes due November 1, 2066 | |
Entity Listings [Line Items] | |
Title of 12(b) Security | AT&T Inc. 5.350% Global Notes due November 1, 2066 |
Trading Symbol | TBB |
Security Exchange Name | NYSE |
AT&T Inc. 5.625% Global Notes due August 1, 2067 | |
Entity Listings [Line Items] | |
Title of 12(b) Security | AT&T Inc. 5.625% Global Notes due August 1, 2067 |
Trading Symbol | TBC |
Security Exchange Name | NYSE |
Consolidated Statements Of Inco
Consolidated Statements Of Income - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Operating Revenues | |||
Total operating revenues | $ 171,760 | $ 181,193 | $ 170,756 |
Cost of revenues | |||
Other cost of revenues (exclusive of depreciation and amortization shown separately below) | 32,909 | 34,356 | 32,906 |
Selling, general and administrative | 38,039 | 39,422 | 36,765 |
Asset impairments and abandonments | 18,880 | 1,458 | 46 |
Depreciation and amortization | 28,516 | 28,217 | 28,430 |
Total operating expenses | 165,355 | 153,238 | 144,660 |
Operating Income (Loss) | 6,405 | 27,955 | 26,096 |
Other Income (Expense) | |||
Interest expense | (7,925) | (8,422) | (7,957) |
Equity in net income (loss) of affiliates | 95 | 6 | (48) |
Other income (expense) – net | (1,431) | (1,071) | 6,782 |
Total other income (expense) | (9,261) | (9,487) | (1,223) |
Income (Loss) Before Income Taxes | (2,856) | 18,468 | 24,873 |
Income tax expense | 965 | 3,493 | 4,920 |
Net Income (Loss) | (3,821) | 14,975 | 19,953 |
Less: Net Income Attributable to Noncontrolling Interest | (1,355) | (1,072) | (583) |
Net Income (Loss) Attributable to AT&T | (5,176) | 13,903 | 19,370 |
Less: Preferred Stock Dividends | (193) | (3) | 0 |
Net Income (Loss) Attributable to Common Stock | $ (5,369) | $ 13,900 | $ 19,370 |
Basic Earnings Per Share Attributable to Common Stock (in dollars per share) | $ (0.75) | $ 1.90 | $ 2.85 |
Diluted Earnings Per Share Attributable to Common Stock (in dollars per share) | $ (0.75) | $ 1.89 | $ 2.85 |
Service | |||
Operating Revenues | |||
Total operating revenues | $ 152,767 | $ 163,499 | $ 152,345 |
Equipment | |||
Operating Revenues | |||
Total operating revenues | 18,993 | 17,694 | 18,411 |
Cost of revenues | |||
Cost of goods and services sold | 19,706 | 18,653 | 19,786 |
Broadcast, programming and operations | |||
Cost of revenues | |||
Cost of goods and services sold | $ 27,305 | $ 31,132 | $ 26,727 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Statement of Comprehensive Income [Abstract] | |||
Net income (loss) | $ (3,821) | $ 14,975 | $ 19,953 |
Foreign Currency: | |||
Translation adjustment (includes $(59), $(9) and $(32) attributable to noncontrolling interest), net of taxes of $(42), $18 and $(45) | (929) | 19 | (1,062) |
Securities: | |||
Net unrealized gains (losses), net of taxes of $27, $17 and $(1) | 78 | 50 | (4) |
Reclassification adjustment included in net income, net of taxes of $(5), $0 and $0 | (15) | 0 | 0 |
Derivative Instruments: | |||
Net unrealized gains (losses), net of taxes of $(212), $(240) and $(156) | (811) | (900) | |
Net unrealized gains (losses), net of taxes of $(212), $(240) and $(156) | (597) | ||
Reclassification adjustment included in net income, net of taxes of $18, $12 and $6 | 69 | 45 | |
Reclassification adjustment included in net income, net of taxes of $18, $12 and $6 | 13 | ||
Defined benefit postretirement plans: | |||
Net prior service credit arising during period, net of taxes of $735, $1,134 and $271 | 2,250 | 3,457 | 830 |
Amortization of net prior service credit included in net income, net of taxes of $(601), $(475) and $(431) | (1,841) | (1,459) | (1,322) |
Other comprehensive income (loss) | (1,199) | 1,212 | (2,142) |
Total comprehensive income (loss) | (5,020) | 16,187 | 17,811 |
Less: Total comprehensive income attributable to noncontrolling interest | (1,296) | (1,063) | (551) |
Total Comprehensive Income (Loss) Attributable to AT&T | $ (6,316) | $ 15,124 | $ 17,260 |
Consolidated Statements of Co_2
Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Statement of Comprehensive Income [Abstract] | |||
Foreign currency translation adjustments, attributable to noncontrolling interest, net of taxes | $ (59) | $ (9) | $ (32) |
Foreign currency translation adjustments - tax effect | (42) | 18 | (45) |
Unrealized gains (losses) on securities - tax effect | 27 | 17 | (1) |
Reclassification adjustment included in net income on securities - tax effect | (5) | 0 | 0 |
Unrealized gains (losses) on derivatives - tax effect | (212) | (240) | |
Unrealized gains (losses) on derivatives - tax effect | (156) | ||
Reclassification adjustment included in net income on derivatives - tax effect | 18 | 12 | |
Reclassification adjustment included in net income on derivatives - tax effect | 6 | ||
Net prior service credit (cost) arising during period - tax effect | 735 | 1,134 | 271 |
Amortization of net prior service credit included in net income - tax effect | $ (601) | $ (475) | $ (431) |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Current Assets | ||
Cash and cash equivalents | $ 9,740 | $ 12,130 |
Accounts receivable - net of related allowance for credit loss of $1,221 and $1,235 | 20,215 | 22,636 |
Prepaid expenses | 1,822 | 1,631 |
Other current assets | 20,231 | 18,364 |
Total current assets | 52,008 | 54,761 |
Noncurrent Inventories and Theatrical Film and Television Production Costs | 14,752 | 12,434 |
Property, Plant and Equipment – Net | 127,315 | 130,128 |
Goodwill | 135,259 | 146,241 |
Licenses – Net | 93,840 | 97,907 |
Other Intangible Assets – Net | 15,386 | 20,798 |
Investments in and Advances to Equity Affiliates | 1,780 | 3,695 |
Operating Lease Right-Of-Use Assets | 24,714 | 24,039 |
Other Assets | 23,617 | 22,754 |
Total Assets | 525,761 | 551,669 |
Current Liabilities | ||
Debt maturing within one year | 3,470 | 11,838 |
Accounts payable and accrued liabilities | 49,032 | 45,956 |
Advanced billings and customer deposits | 6,176 | 6,124 |
Accrued taxes | 1,019 | 1,212 |
Dividends payable | 3,741 | 3,781 |
Total current liabilities | 63,438 | 68,911 |
Long-Term Debt | 153,775 | 151,309 |
Deferred Credits and Other Noncurrent Liabilities | ||
Deferred income taxes | 60,472 | 59,502 |
Postemployment benefit obligation | 18,276 | 18,788 |
Operating lease liabilities | 22,202 | 21,804 |
Other noncurrent liabilities | 28,358 | 29,421 |
Total deferred credits and other noncurrent liabilities | 129,308 | 129,515 |
Stockholders’ Equity | ||
Common stock ($1 par value, 14,000,000,000 authorized at December 31, 2020 and December 31, 2019: issued 7,620,748,598 at December 31, 2020 and December 31, 2019) | 7,621 | 7,621 |
Additional paid-in capital | 130,175 | 126,279 |
Retained earnings | 37,457 | 57,936 |
Treasury stock (494,826,583 at December 31, 2020 and 366,193,458 at December 31, 2019, at cost) | (17,910) | (13,085) |
Accumulated other comprehensive income | 4,330 | 5,470 |
Noncontrolling interest | 17,567 | 17,713 |
Total stockholders’ equity | 179,240 | 201,934 |
Total Liabilities and Stockholders’ Equity | 525,761 | 551,669 |
Series A (48,000 issued and outstanding at December 31, 2020 and December 31, 2019) | ||
Stockholders’ Equity | ||
Preferred stock ($1 par value, 10,000,000 authorized): | 0 | 0 |
Series B (20,000 issued and outstanding at December 31, 2020 and 0 issued and outstanding at December 31, 2019) | ||
Stockholders’ Equity | ||
Preferred stock ($1 par value, 10,000,000 authorized): | 0 | 0 |
Series C (70,000 issued and outstanding at December 31, 2020 and 0 issued and outstanding at December 31, 2019) | ||
Stockholders’ Equity | ||
Preferred stock ($1 par value, 10,000,000 authorized): | 0 | 0 |
Trademarks And Trade Names - Net | ||
Current Assets | ||
Finite-Lived Intangible Assets - Net | 23,297 | 23,567 |
Distribution Networks – Net | ||
Current Assets | ||
Finite-Lived Intangible Assets - Net | $ 13,793 | $ 15,345 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Allowances for credit losses | $ 1,221 | $ 1,235 |
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) | 494,826,583 | 366,193,458 |
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 | 0 |
Preferred stock, outstanding (in shares) | 20,000 | 0 |
Preferred Stock – Series C | ||
Preferred stock, issued (in shares) | 70,000 | 0 |
Preferred stock, outstanding (in shares) | 70,000 | 0 |
Consolidated Statements Of Cash
Consolidated Statements Of Cash Flows - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Operating Activities | |||
Net income (loss) | $ (3,821) | $ 14,975 | $ 19,953 |
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | |||
Depreciation and amortization | 28,516 | 28,217 | 28,430 |
Amortization of film and television costs | 8,603 | 9,587 | 3,772 |
Undistributed earnings from investments in equity affiliates | 38 | 295 | 292 |
Provision for uncollectible accounts | 1,972 | 2,575 | 1,791 |
Deferred income tax expense | 1,675 | 1,806 | 4,931 |
Net (gain) loss on investments, net of impairments | (742) | (1,218) | (739) |
Pension and postretirement benefit expense (credit) | (2,992) | (2,002) | (1,148) |
Actuarial (gain) loss on pension and postretirement benefits | 4,169 | 5,171 | (3,412) |
Asset impairments and abandonments | 18,880 | 1,458 | 46 |
Changes in operating assets and liabilities: | |||
Receivables | 2,216 | 2,812 | (1,580) |
Other current assets, inventories and theatrical film and television production costs | (13,070) | (12,852) | (6,442) |
Accounts payable and other accrued liabilities | (1,410) | (1,524) | 1,602 |
Equipment installment receivables and related sales | (1,429) | 548 | (490) |
Deferred customer contract acquisition and fulfillment costs | 376 | (910) | (3,458) |
Postretirement claims and contributions | (985) | (1,008) | (936) |
Other - net | 1,134 | 738 | 990 |
Total adjustments | 46,951 | 33,693 | 23,649 |
Net Cash Provided by Operating Activities | 43,130 | 48,668 | 43,602 |
Investing Activities | |||
Capital expenditures, including $(123), $(200) and $(493) of interest during construction | (15,675) | (19,635) | (21,251) |
Acquisitions, net of cash acquired | (1,851) | (1,809) | (43,309) |
Dispositions | 3,641 | 4,684 | 2,148 |
(Purchases), sales and settlement of securities and investments, net | 497 | 435 | (183) |
Advances to and investments in equity affiliates, net | (160) | (365) | (1,050) |
Cash collections of deferred purchase price | 0 | 0 | 500 |
Net Cash Used in Investing Activities | (13,548) | (16,690) | (63,145) |
Financing Activities | |||
Net change in short-term borrowings with original maturities of three months or less | (17) | (276) | (821) |
Issuance of other short-term borrowings | 9,440 | 4,012 | 4,898 |
Repayment of other short-term borrowings | (9,467) | (6,904) | (2,098) |
Issuance of long-term debt | 31,988 | 17,039 | 41,875 |
Repayment of long-term debt | (39,964) | (27,592) | (52,643) |
Payment of vendor financing | (2,966) | (3,050) | (560) |
Issuance of preferred stock | 3,869 | 1,164 | 0 |
Purchase of treasury stock | (5,498) | (2,417) | (609) |
Issuance of treasury stock | 105 | 631 | 745 |
Issuance of preferred interests in subsidiaries | 1,979 | 7,876 | 0 |
Redemption of preferred interest in subsidiary | (1,950) | 0 | 0 |
Dividends paid | (14,956) | (14,888) | (13,410) |
Other - net | (4,570) | (678) | (3,366) |
Net Cash Used in Financing Activities | (32,007) | (25,083) | (25,989) |
Net (decrease) increase in cash and cash equivalents and restricted cash | (2,425) | 6,895 | (45,532) |
Cash and cash equivalents and restricted cash beginning of year | 12,295 | 5,400 | 50,932 |
Cash and Cash Equivalents and Restricted Cash End of Year | $ 9,870 | $ 12,295 | $ 5,400 |
Consolidated Statements Of Ca_2
Consolidated Statements Of Cash Flows (Parenthetical) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Statement of Cash Flows [Abstract] | |||
Capital expenditures, interest during construction | $ (123) | $ (200) | $ (493) |
Consolidated Statements Of Chan
Consolidated Statements Of Changes In Stockholders' Equity - USD ($) shares in Millions, $ in Millions | Total | Preferred StockPreferred Stock – Series A | Preferred StockPreferred Stock – Series B | Preferred StockPreferred Stock – Series C | Common Stock | Additional Paid-In Capital | Additional Paid-In CapitalPreferred Stock | Additional Paid-In CapitalCommon Stock | Retained Earnings | Retained EarningsCumulative effect of accounting changes and other adjustments | Retained EarningsAdjusted beginning balance | Treasury Stock | Accumulated Other Comprehensive Income Attributable to AT&T, net of tax | Accumulated Other Comprehensive Income Attributable to AT&T, net of taxCumulative effect of accounting changes and other adjustments | Accumulated Other Comprehensive Income Attributable to AT&T, net of taxAdjusted beginning balance | Noncontrolling Interest | Noncontrolling InterestCumulative effect of accounting changes and other adjustments | Noncontrolling InterestAdjusted beginning balance |
Balance at beginning of year at Dec. 31, 2017 | $ 142,007 | $ 0 | $ 0 | $ 0 | $ 6,495 | $ 89,563 | $ 50,500 | $ 3,000 | $ 53,500 | $ (12,714) | $ 7,017 | $ (658) | $ 6,359 | $ 1,146 | $ 35 | $ 1,181 | ||
Balance at beginning of year (in shares) at Dec. 31, 2017 | 0 | 0 | 0 | 6,495 | (356) | |||||||||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||||||||||||
Repurchase and acquisition of common stock | $ 0 | |||||||||||||||||
Issuance of stock | $ 0 | $ 0 | $ 0 | $ 1,126 | $ 0 | 35,473 | ||||||||||||
Issuance of stock (in shares) | 0 | 0 | 0 | 1,126 | ||||||||||||||
Repurchase and acquisition of common stock | $ (692) | |||||||||||||||||
Repurchase and acquisition common stock (in shares) | (20) | |||||||||||||||||
Issuance of treasury stock | (115) | $ 1,347 | ||||||||||||||||
Issuance of treasury stock (in shares) | 37 | |||||||||||||||||
Share-based payments | 604 | |||||||||||||||||
Changes related to acquisition of interests held by noncontrolling owners | 0 | |||||||||||||||||
Net income (loss) attributable to AT&T | 19,370 | 19,370 | ||||||||||||||||
Preferred stock dividends | 0 | |||||||||||||||||
Common stock dividends ($2.08, $2.05, and $2.01 per share) | (14,117) | |||||||||||||||||
Other comprehensive income (loss) attributable to AT&T | (2,110) | (2,110) | ||||||||||||||||
Net income attributable to noncontrolling interest | 583 | 583 | ||||||||||||||||
Issuance and acquisition of noncontrolling owners | 8,804 | |||||||||||||||||
Redemption of noncontrolling interest | 0 | |||||||||||||||||
Distributions | (732) | |||||||||||||||||
Acquisition of interests held by noncontrolling owners | (9) | |||||||||||||||||
Translation adjustments attributable to noncontrolling interest, net of taxes | 32 | (32) | ||||||||||||||||
Balance at end of year at Dec. 31, 2018 | 193,884 | $ 0 | $ 0 | $ 0 | $ 7,621 | 125,525 | 58,753 | 316 | 59,069 | $ (12,059) | 4,249 | 0 | 4,249 | 9,795 | 29 | 9,824 | ||
Balance at end of year (in shares) at Dec. 31, 2018 | 0 | 0 | 0 | 7,621 | (339) | |||||||||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||||||||||||
Repurchase and acquisition of common stock | 0 | |||||||||||||||||
Issuance of stock | $ 0 | $ 0 | $ 0 | $ 0 | 1,164 | 0 | ||||||||||||
Issuance of stock (in shares) | 0 | 0 | 0 | 0 | ||||||||||||||
Repurchase and acquisition of common stock | $ (2,492) | |||||||||||||||||
Repurchase and acquisition common stock (in shares) | (67) | |||||||||||||||||
Issuance of treasury stock | (125) | $ 1,466 | ||||||||||||||||
Issuance of treasury stock (in shares) | 40 | |||||||||||||||||
Share-based payments | (271) | |||||||||||||||||
Changes related to acquisition of interests held by noncontrolling owners | (14) | |||||||||||||||||
Net income (loss) attributable to AT&T | 13,903 | 13,903 | ||||||||||||||||
Preferred stock dividends | (8) | |||||||||||||||||
Common stock dividends ($2.08, $2.05, and $2.01 per share) | (15,028) | |||||||||||||||||
Other comprehensive income (loss) attributable to AT&T | 1,221 | 1,221 | ||||||||||||||||
Net income attributable to noncontrolling interest | 1,072 | 1,072 | ||||||||||||||||
Issuance and acquisition of noncontrolling owners | 7,881 | |||||||||||||||||
Redemption of noncontrolling interest | 0 | |||||||||||||||||
Distributions | (1,055) | |||||||||||||||||
Acquisition of interests held by noncontrolling owners | 0 | |||||||||||||||||
Translation adjustments attributable to noncontrolling interest, net of taxes | 9 | (9) | ||||||||||||||||
Balance at end of year at Dec. 31, 2019 | 201,934 | $ 0 | $ 0 | $ 0 | $ 7,621 | 126,279 | 57,936 | $ (293) | $ 57,643 | $ (13,085) | 5,470 | $ 0 | $ 5,470 | 17,713 | $ (7) | $ 17,706 | ||
Balance at end of year (in shares) at Dec. 31, 2019 | 0 | 0 | 0 | 7,621 | (366) | |||||||||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||||||||||||
Repurchase and acquisition of common stock | 67 | |||||||||||||||||
Issuance of stock | $ 0 | $ 0 | $ 0 | $ 0 | $ 3,869 | $ 0 | ||||||||||||
Issuance of stock (in shares) | 0 | 0 | 0 | 0 | ||||||||||||||
Repurchase and acquisition of common stock | $ (5,278) | $ (5,631) | ||||||||||||||||
Repurchase and acquisition common stock (in shares) | (142) | (150) | ||||||||||||||||
Issuance of treasury stock | (62) | $ 806 | ||||||||||||||||
Issuance of treasury stock (in shares) | 21 | |||||||||||||||||
Share-based payments | 18 | |||||||||||||||||
Changes related to acquisition of interests held by noncontrolling owners | 4 | |||||||||||||||||
Net income (loss) attributable to AT&T | $ (5,176) | (5,176) | ||||||||||||||||
Preferred stock dividends | (139) | |||||||||||||||||
Common stock dividends ($2.08, $2.05, and $2.01 per share) | (14,871) | |||||||||||||||||
Other comprehensive income (loss) attributable to AT&T | (1,140) | (1,140) | ||||||||||||||||
Net income attributable to noncontrolling interest | 1,355 | 1,355 | ||||||||||||||||
Issuance and acquisition of noncontrolling owners | 1,979 | |||||||||||||||||
Redemption of noncontrolling interest | (1,950) | |||||||||||||||||
Distributions | (1,464) | |||||||||||||||||
Acquisition of interests held by noncontrolling owners | 0 | |||||||||||||||||
Translation adjustments attributable to noncontrolling interest, net of taxes | 59 | (59) | ||||||||||||||||
Balance at end of year at Dec. 31, 2020 | $ 179,240 | $ 0 | $ 0 | $ 0 | $ 7,621 | $ 130,175 | $ 37,457 | $ (17,910) | $ 4,330 | $ 17,567 | ||||||||
Balance at end of year (in shares) at Dec. 31, 2020 | 0 | 0 | 0 | 7,621 | (495) |
Consolidated Statements Of Ch_2
Consolidated Statements Of Changes In Stockholders' Equity (Parenthetical) - $ / shares | 1 Months Ended | 12 Months Ended | |||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Statement of Stockholders' Equity [Abstract] | |||||
Dividends to stockholders (in dollars per share) | $ 0.52 | $ 0.52 | $ 2.08 | $ 2.05 | $ 2.01 |
Summary Of Significant Accounti
Summary Of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2020 | |
Accounting Policies [Abstract] | |
Summary Of Significant Accounting Policies | NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation Throughout this document, AT&T Inc. is referred to as “AT&T,” “we” or the “Company.” The consolidated financial statements include the accounts of the Company and subsidiaries and affiliates which we control, including the results of Time Warner Inc. (referred to as “Time Warner” or “WarnerMedia”), which was acquired on June 14, 2018 (see Note 6). AT&T is a holding company whose subsidiaries and affiliates operate worldwide in the telecommunications, media and technology industries. All significant intercompany transactions are eliminated in the consolidation process. Investments in subsidiaries and partnerships which we do not control but have significant influence are accounted for under the equity method. Earnings from certain investments accounted for using the equity method are included for periods ended within up to one quarter of our period end. We also record our proportionate share of our equity method investees’ other comprehensive income (OCI) items, including translation adjustments. We treat distributions received from equity method investees as returns on investment and classify them as cash flows from operating activities until those distributions exceed our cumulative equity in the earnings of that investment. We treat the excess amount as a return of investment and classify it as cash flows from investing activities. The preparation of financial statements in conformity with U.S. generally accepted accounting principles (GAAP) requires management to make estimates and assumptions, including potential impacts arising from the COVID-19 pandemic and other estimates of probable losses and expenses, that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. Certain prior-period amounts have been conformed to the current period’s presentation. See Note 4 for a discussion on the recast of our segment results and Note 9 for a discussion of the separation of our former Entertainment Group into two reporting units, Video and Consumer Wireline (formerly Broadband). Accounting Policies and Adopted Accounting Standards Credit Losses As of January 1, 2020, we adopted, through modified retrospective application, the Financial Accounting Standards Board’s (FASB) Accounting Standards Update (ASU) No. 2016-13, “Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments,” or Accounting Standards Codification (ASC) 326 (ASC 326), which replaces the incurred loss impairment methodology under prior GAAP with an expected credit loss model. ASC 326 affects trade receivables, loans, contract assets, certain beneficial interests, off-balance-sheet credit exposures not accounted for as insurance and other financial assets that are not subject to fair value through net income, as defined by the standard. Under the expected credit loss model, we are required to consider future economic trends to estimate expected credit losses over the lifetime of the asset. Upon adoption on January 1, 2020, we recorded a $293 reduction to “Retained earnings,” $395 increase to “Allowances for credit losses” applicable to our trade and loan receivables, $10 reduction of contract assets, $105 reduction of net deferred income tax liability and $7 reduction of “Noncontrolling interest.” Our adoption of ASC 326 did not have a material impact on our financial statements. Leases As of January 1, 2019, we adopted, with modified retrospective application, the FASB's ASU No. 2016-02, “Leases (Topic 842)” (ASC 842), which replaces existing leasing rules with a comprehensive lease measurement and recognition standard and expanded disclosure requirements (see Note 8). ASC 842 requires lessees to recognize most leases on their balance sheets as liabilities, with corresponding “right-of-use” assets. For income statement recognition purposes, leases are classified as either a finance or an operating lease without relying upon bright-line tests. The key change upon adoption of the standard was balance sheet recognition of operating leases, given that the recognition of lease expense on our income statement is similar to our historical accounting. Using the modified retrospective transition method of adoption, we did not adjust the balance sheet for comparative periods but recorded a cumulative effect adjustment to retained earnings on January 1, 2019. We elected the package of practical expedients permitted under the transition guidance within the new standard, which, among other things, allowed us to carry forward our historical lease classification. We also elected the practical expedient related to land easements, allowing us to carry forward our accounting treatment for land easements on existing agreements that were not accounted for as leases. We excluded leases with original terms of one year or less. Additionally, we elected to not separate lease and non-lease components for certain classes of assets. Our accounting for finance leases did not change from our prior accounting for capital leases. The adoption of ASC 842 resulted in the recognition of an operating lease liability of $22,121 and an operating right-of-use asset of the same amount. Existing prepaid and deferred rent accruals were recorded as an offset to the right-of-use asset, resulting in a net asset of $20,960. The cumulative effect of the adoption to retained earnings was an increase of $316 reflecting the reclassification of deferred gains related to sale/leaseback transactions. The standard did not materially impact our income statements or statements of cash flows, and had no impact on our debt-covenant compliance under our current agreements. Deferral of Episodic Television and Film Costs In March 2019, the FASB issued ASU No. 2019-02, “ Entertainment—Films—Other Assets—Film Costs (Subtopic 926-20) and Entertainment—Broadcasters—Intangibles—Goodwill and Other (Subtopic 920-350): Improvements to Accounting for Costs of Films and License Agreements for Program Materials” (ASU 2019-02), which we early adopted as of January 1, 2019, with prospective application. The standard eliminates certain revenue-related constraints on capitalization of inventory costs for episodic television that existed under prior guidance. In addition, the balance sheet classification requirements that existed in prior guidance for film production costs and programming inventory were eliminated. As of January 1, 2019, we reclassified $2,274 of our programming inventory costs from “Other current assets” to “Other Assets” in accordance with the guidance (see Note 11). This change in accounting did not materially impact our income statement. Revenue Recognition As of January 1, 2018, we adopted ASU No. 2014-09, “Revenue from Contracts with Customers (Topic 606),” as modified (ASC 606), using the modified retrospective method, which does not allow us to adjust prior periods. We applied the rules to all open contracts existing as of January 1, 2018, recording an increase of $2,342 to retained earnings for the cumulative effect of the change, with an offsetting contract asset of $1,737, deferred contract acquisition costs of $1,454, other asset reductions of $239, other liability reductions of $212, deferred income tax liability of $787 and increase to noncontrolling interest of $35. (See Note 5) Financial Instruments As of January 1, 2018, we adopted ASU No. 2016-01, “Financial Instruments – Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities” (ASU 2016-01), which requires us to prospective ly record changes in the fair value of our equity investments, except for those accounted for under the equity method, in net income instead of in accumulated other comprehensive income (accumulated OCI). As of January 1, 2018, we recorded an increase of $658 in retained earnings for the cumulative effect of the adoption of ASU 2016-01, with an offset to accumulated OCI. Income Taxes We record deferred income taxes for temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the computed tax basis of those assets and liabilities. We record valuation allowances against the deferred tax assets (included, together with our deferred income tax assets, as part of our reportable net deferred income tax liabilities on our consolidated balance sheets), for which the realization is uncertain. We review these items regularly in light of changes in federal and state tax laws and changes in our business. The Tax Cuts and Jobs Act (the Act), which was enacted on December 22, 2017, reduced the U.S. federal corporate income tax rate from 35% to 21% and required companies to pay a one-time transition tax on earnings of certain foreign subsidiaries that were previously tax deferred. We included the estimated impact of the Act in our financial results at or for the period ended December 31, 2017, with additional adjustments recorded in 2018, as allowed by the Securities and Exchange Commission (SEC) in Staff Accounting Bulletin (SAB) 118. (See Note 14) Cash and Cash Equivalents Cash and cash equivalents include all highly liquid investments with original maturities of three months or less. The carrying amounts approximate fair value. At December 31, 2020, we held $2,842 in cash and $6,898 in money market funds and other cash equivalents. Of our total cash and cash equivalents, $2,205 resided in foreign jurisdictions, some of which is subject to restrictions on repatriation. Allowance for Credit Losses We record expense to maintain an allowance for credit losses for estimated losses that result from the failure or inability of our customers to make required payments deemed collectible from the customer when the service was provided or product was delivered. When determining the allowances for trade receivables and loans, we consider the probability of recoverability of accounts receivable based on past experience, taking into account current collection trends and general economic factors, including bankruptcy rates. We also consider future economic trends to estimate expected credit losses over the lifetime of the asset. Credit risks are assessed based on historical write-offs, net of recoveries, as well as an analysis of the aged accounts receivable balances with allowances generally increasing as the receivable ages. Accounts receivable may be fully reserved for when specific collection issues are known to exist, such as catastrophes or pending bankruptcies. Equipment Inventory Equipment inventories, which primarily consist of wireless devices and accessories, are included in “Other current assets” on our consolidated balance sheets. Equipment inventories are valued at the lower of cost or net realizable value and were $3,592 at December 31, 2020 and $2,864 at December 31, 2019. Licensed Programming Inventory Cost Recognition and Impairment We enter into agreements to license programming exhibition rights from licensors. A programming inventory asset related to these rights and a corresponding liability payable to the licensor are recorded (on a discounted basis if the license agreements are long-term) when (i) the cost of the programming is reasonably determined, (ii) the programming material has been accepted in accordance with the terms of the agreement, (iii) the programming is available for its first showing or telecast, and (iv) the license period has commenced. There are variations in the amortization methods of these rights, depending on whether the network is advertising-supported (e.g., TNT and TBS) or not advertising-supported (e.g., HBO and Turner Classic Movies). For the advertising-supported networks, our general policy is to amortize each program’s costs on a straight-line basis (or per-play basis, if greater) over its license period. In circumstances where the initial airing of the program has more value than subsequent airings, an accelerated method of amortization is used. The accelerated amortization upon the first airing versus subsequent airings is determined based on a study of historical and estimated future advertising sales for similar programming. For rights fees paid for sports programming arrangements, such rights fees are amortized using a revenue-forecast model, in which the rights fees are amortized using the ratio of current period advertising revenue to total estimated remaining advertising revenue over the term of the arrangement. For premium pay television, streaming and over-the-top (OTT) services that are not advertising-supported, each licensed program’s costs are amortized on a straight-line basis over its license period or estimated period of use, beginning with the month of initial exhibition. When we have the right to exhibit feature theatrical programming in multiple windows over a number of years, historical audience viewership is used as the basis for determining the amount of programming amortization attributable to each window. Licensed programming inventory is carried at the lower of unamortized cost or fair value. For networks that generate both advertising and subscription revenues, the net realizable value of unamortized programming costs is generally evaluated based on the network’s programming taken as a whole. In assessing whether the programming inventory for a particular advertising-supported network is impaired, the net realizable value for all of the network’s programming inventory is determined based on a projection of the network’s profitability. This assessment would occur upon the occurrence of certain triggering events. Similarly, for premium pay television, streaming and OTT services that are not advertising-supported, an evaluation of the fair value of unamortized programming costs is performed based on services’ licensed programming taken as a whole. Specifically, the fair value for all premium pay television, streaming and OTT service licensed programming is determined based on projections of estimated subscription revenues less certain costs of delivering and distributing the licensed programming. Changes in management’s intended usage of a specific program, such as a decision to no longer exhibit that program and forgo the use of the rights associated with the program license, results in a reassessment of that program’s fair value, which could result in an impairment (see Note 11). Film and Television Production Cost Recognition, Participations and Residuals and Impairments Film and television production costs on our consolidated balance sheets include the unamortized cost of completed theatrical films and television episodes, theatrical films and television series in production and undeveloped film and television rights. Film and television production costs are stated at the lower of cost, less accumulated amortization, or fair value. For films and television programs predominantly monetized individually, the amount of capitalized film and television production costs and the amount of participations and residuals to be recognized as broadcast, programming and operations expenses for a given film or television series in a particular period are determined using the film forecast computation method. Under this method, the amortization of capitalized costs and the accrual of participations and residuals are based on the proportion of the film’s (or television program’s) revenues recognized for such period to the film’s (or television program’s) estimated remaining ultimate revenues (i.e., the total revenue to be received throughout a film’s (or television program’s) life cycle). The process of estimating a film’s ultimate revenues requires us to make a series of judgments related to future revenue-generating activities associated with a particular film. We estimate the ultimate revenues, less additional costs to be incurred (including exploitation and participation costs), in order to determine whether the value of a film or television series is impaired and requires an immediate write-off of unrecoverable film and television production costs. To the extent that the ultimate revenues are adjusted, the resulting gross margin reported on the exploitation of that film or television series in a period is also adjusted. (See Note 11) Prior to the theatrical release of a film, our estimates are based on factors such as the historical performance of similar films, the star power of the lead actors, the rating and genre of the film, pre-release market research (including test market screenings), international distribution plans and the expected number of theaters in which the film will be released. In the absence of revenues directly related to the exhibition of owned film or television programs on our television networks, premium pay television, streaming or OTT services, we estimate a portion of the unamortized costs that are representative of the utilization of that film or television program in that exhibition and expense such costs as the film or television program is exhibited. The period over which ultimate revenues are estimated generally does not exceed ten years from the initial release of a motion picture or from the date of delivery of the first episode of an episodic television series. Estimates were updated based on information available during the film’s production and, upon release, the actual results of each film. For a film (or television program) predominantly monetized as part of a film (or television program) group, the amount of capitalized film and television production costs is amortized using a reasonably reliable estimate of the portion of unamortized film costs that is representative of the use of the film. Production costs are expensed as the film (or television program) is exhibited or exploited. Property, Plant and Equipment Property, plant and equipment is stated at cost, except for assets acquired using acquisition accounting, which are initially recorded at fair value (see Note 7). The cost of additions and substantial improvements to property, plant and equipment is capitalized, and includes internal compensation costs for these projects. The cost of maintenance and repairs of property, plant and equipment is charged to operating expenses. Property, plant and equipment costs are depreciated using straight-line methods over their estimated economic lives. Certain subsidiaries follow composite group depreciation methodology. Accordingly, when a portion of their depreciable property, plant and equipment is retired in the ordinary course of business, the gross book value is reclassified to accumulated depreciation, and no gain or loss is recognized on the disposition of these assets. Property, plant and equipment is reviewed for recoverability whenever events or changes in circumstances indicate that the carrying amount of an asset group may not be recoverable. We recognize an impairment loss when the carrying amount of a long-lived asset is not recoverable. The carrying amount of a long-lived asset is not recoverable if it exceeds the sum of the undiscounted cash flows expected to result from the use and eventual disposition of the asset. See Note 7 for a discussion of an impairment of long-lived assets of the video business and other network asset abandonments. The liability for the fair value of an asset retirement obligation is recorded in the period in which it is incurred if a reasonable estimate of fair value can be made. In periods subsequent to initial measurement, we recognize period-to-period changes in the liability resulting from the passage of time and revisions to either the timing or the amount of the original estimate. The increase in the carrying value of the associated long-lived asset is depreciated over the corresponding estimated economic life. Software Costs We capitalize certain costs incurred in connection with developing or obtaining internal-use software. Capitalized software costs are included in “Property, Plant and Equipment - Net” on our consolidated balance sheets. In addition, there is certain network software that allows the equipment to provide the features and functions unique to the AT&T network, which we include in the cost of the equipment categories for financial reporting purposes. We amortize our capitalized software costs over a three-year to seven-year period, reflecting the estimated period during which these assets will remain in service. Goodwill and Other Intangible Assets We have the following major classes of intangible assets: goodwill; licenses, which include Federal Communications Commission (FCC) and other wireless licenses and orbital slots; distribution networks; film and television libraries; intellectual properties and franchises; trademarks and trade names; customer lists; and various other finite-lived intangible assets (see Note 9). Goodwill represents the excess of consideration paid over the fair value of identifiable net assets acquired in business combinations. Wireless licenses provide us with the exclusive right to utilize certain radio frequency spectrum to provide wireless communications services. While wireless licenses are issued for a fixed period of time (generally ten years), renewals of domestic wireless licenses have occurred routinely and at nominal cost. We have determined that there are currently no legal, regulatory, contractual, competitive, economic or other factors that limit the useful lives of our FCC wireless licenses. During 2019, in conjunction with the renewal process of certain wireless licenses in Mexico, we reassessed the estimated economic lives and renewal assumptions for these licenses. As a result, we have changed the life of these licenses from indefinite to finite-lived. On January 1, 2019, we began amortizing our wireless licenses in Mexico over their average remaining economic life of 25 years. This change in accounting does not materially impact our income statement. During the first quarter of 2020, in conjunction with the nationwide launch of AT&T TV and our customers’ continued shift from linear to streaming video services, we reassessed the estimated economic lives and renewal assumptions for our orbital slot licenses. As a result, we have changed the estimated lives of our orbital slot licenses from indefinite to finite-lived, effective January 1, 2020, and began amortizing these licenses using the sum-of-months-digits method over their average remaining economic life of 15 years at January 1, 2020. This change in accounting increased amortization expense $1,504, or $0.16 per diluted share available to common stock for 2020. We acquired the rights to the AT&T and other trade names in previous acquisitions, classifying certain of those trade names as indefinite-lived. We have the effective ability to retain these exclusive rights permanently at a nominal cost. During the first quarter of 2020, we reassessed and changed the estimated economic lives of certain trade names in our Latin America business from indefinite to finite-lived and began amortizing them using the straight-line method over their average remaining economic life of 15 years. This change had an insignificant impact on our financial statements. Goodwill, FCC wireless licenses and other indefinite-lived intangible assets are not amortized but are tested at least annually for impairment. The testing is performed on the value as of October 1 each year, and compares the book values of the assets to their fair values. Goodwill is tested by comparing the carrying amount of each reporting unit, deemed to be our principal operating segments or one level below them, to the fair value using both discounted cash flow as well as market multiple approaches. FCC wireless licenses are tested on an aggregate basis, consistent with our use of the licenses on a national scope, using a discounted cash flow approach. Prior to 2020, orbital slots were similarly aggregated for purposes of impairment testing and valued using a discounted cash flow approach. Trade names are tested by comparing their book values to their fair values calculated using a discounted cash flow approach on a presumed royalty rate derived from the revenues related to each brand name. Intangible assets that have finite useful lives are amortized over their estimated useful lives (see Note 9). As of January 1, 2020, on a prospective basis, orbital slots are amortized using the sum-of-the-months-digits method of amortization over their average remaining economic life. Customer lists and relationships are amortized using primarily the sum-of-the-months-digits method of amortization over the period in which those relationships are expected to contribute to our future cash flows. Finite-lived trademarks and trade names and distribution networks are amortized using the straight-line method over the estimated useful life of the assets. Film library is amortized using the film forecast computation method, as previously disclosed. The remaining finite-lived intangible assets are generally amortized using the straight-line method. These assets, along with other long-lived assets, are reviewed for recoverability whenever events or changes in circumstances indicate that the carrying amount of an asset group may not be recoverable. Advertising Costs We expense advertising costs for products and services or for promoting our corporate image as incurred (see Note 22). Foreign Currency Translation Our foreign subsidiaries and foreign investments generally report their earnings in their local currencies. We translate their foreign assets and liabilities at exchange rates in effect at the balance sheet dates. We translate their revenues and expenses using average rates during the year. The resulting foreign currency translation adjustments are recorded as a separate component of accumulated OCI in our consolidated balance sheets (see Note 3). Operations in countries with highly inflationary economies use the U.S. dollar as the functional currency. We hedge a portion of the foreign currency exchange risk involved in certain foreign currency-denominated transactions, which we explain further in our discussion of our methods of managing our foreign currency risk (see Note 13). Pension and Other Postretirement Benefits See Note 15 for a comprehensive discussion of our pension and postretirement benefits, including a discussion of the actuarial assumptions, our policy for recognizing the associated gains and losses and our method used to estimate service and interest cost components. New Accounting Standards Income Taxes In December 2019, the FASB issued ASU No. 2019-12, “Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes” (ASU 2019-12), which is expected to simplify income tax accounting requirements in areas deemed costly and complex. The amendments under ASU 2019-12 will be effective as of January 1, 2021, and interim periods within that year, with early adoption permitted in its entirety as of the beginning of the year of adoption. At adoption, the guidance allows for modified retrospective application through a cumulative effect adjustment to retained earnings. We do not expect ASU 2019-12 to have a material impact on our financial statements. Reference Rate Reform In March 2020, the FASB issued ASU No. 2020-04, “Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting” (ASU 2020-04, as amended), which provides optional expedients, and allows for certain exceptions to existing GAAP, for contract modifications triggered by the expected market transition of certain benchmark interest rates to alternative reference rates. ASU 2020-04 applies to contracts, hedging relationships, certain derivatives and other arrangements that reference the London Interbank Offering Rate (LIBOR) or any other rates ending after December 31, 2022. ASU 2020-04 became effective immediately. We are evaluating the impact of our adoption of ASU 2020-04, including optional expedients, to our financial statements. Convertible Instruments In August 2020, the FASB issued 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), which eliminated certain separation models regarding cash conversion and beneficial conversion features to simplify reporting for convertible instruments as a single liability or equity, with no separate accounting for embedded conversion features. ASU 2020-06 will be effective for fiscal years beginning after December 31, 2021, under modified retrospective or full retrospective application, subject to early adoption in 2021. We are evaluating the impact of our adoption of ASU 2020-06 on our financial statements. |
Earnings Per Share
Earnings Per Share | 12 Months Ended |
Dec. 31, 2020 | |
Earnings Per Share [Abstract] | |
Earnings Per Share | NOTE 2. EARNINGS PER SHARE A reconciliation of the numerators and denominators of basic and diluted earnings per share is shown in the table below: Year Ended December 31, 2020 2019 2018 Numerators Numerator for basic earnings per share: Net Income (Loss) $ (3,821) $ 14,975 $ 19,953 Less: Net Income Attributable to Noncontrolling Interest (1,355) (1,072) (583) Net Income (Loss) Attributable to AT&T (5,176) 13,903 19,370 Less: Preferred Stock Dividends (193) (3) — Net Income (Loss) Attributable to Common Stock (5,369) 13,900 19,370 Dilutive potential common shares: Share-based payment 1 23 21 19 Numerator for diluted earnings per share $ (5,346) $ 13,921 $ 19,389 Denominators (000,000) Denominator for basic earnings per share: Weighted average number of common shares outstanding 7,157 7,319 6,778 Dilutive potential common shares: Share-based payment (in shares) 1 26 29 28 Denominator for diluted earnings per share 7,183 7,348 6,806 Basic Earnings Per Share Attributable to Common Stock $ (0.75) $ 1.90 $ 2.85 Diluted Earnings Per Share Attributable to Common Stock 1 $ (0.75) $ 1.89 $ 2.85 1 For 2020, dilutive potential common shares are not included in the computation of diluted earnings per share because their effect is antidilutive as a result of the net loss. In the first quarter of 2020, we completed an accelerated share repurchase agreement with a third-party financial institution to repurchase AT&T common stock (see Note 17). Under the terms of the agreement, we paid the financial institution $4,000 and received 104.8 million shares. |
Other Comprehensive Income
Other Comprehensive Income | 12 Months Ended |
Dec. 31, 2020 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |
Other Comprehensive Income | NOTE 3. OTHER COMPREHENSIVE INCOME Changes in the balances of each component included in accumulated OCI are presented below. All amounts are net of tax and exclude noncontrolling interest. Foreign Net Unrealized Net Unrealized Defined Benefit Accumulated Other Balance as of December 31, 2017 $ (2,054) $ 660 $ 1,402 $ 7,009 $ 7,017 Other comprehensive income (loss) before reclassifications (1,030) (4) (597) 830 (801) Amounts reclassified from accumulated OCI — 1 — 1 13 2 (1,322) 3 (1,309) Net other comprehensive income (loss) (1,030) (4) (584) (492) (2,110) Amounts reclassified to retained earnings 4 — (658) — — (658) Balance as of December 31, 2018 (3,084) (2) 818 6,517 4,249 Other comprehensive income (loss) before reclassifications 28 50 (900) 3,457 2,635 Amounts reclassified from accumulated OCI — 1 — 1 45 2 (1,459) 3 (1,414) Net other comprehensive income (loss) 28 50 (855) 1,998 1,221 Balance as of December 31, 2019 (3,056) 48 (37) 8,515 5,470 Other comprehensive income (loss) before reclassifications (870) 78 (811) 2,250 647 Amounts reclassified from accumulated OCI — 1 (15) 1 69 2 (1,841) 3 (1,787) Net other comprehensive income (loss) (870) 63 (742) 409 (1,140) Balance as of December 31, 2020 $ (3,926) $ 111 $ (779) $ 8,924 $ 4,330 1 (Gains) losses are included in “Other income (expense) – net” in the consolidated statements of income. 2 (Gains) losses are included in “Interest expense” in the consolidated statements of income (see Note 13). 3 The amortization of prior service credits associated with postretirement benefits is included in “Other income (expense) – net” in the consolidated statements of income (see Note 15). 4 With the adoption of ASU 2016-01, the unrealized (gains) losses on our equity investments are reclassified to retained earnings (see Note 1). |
Segment Information
Segment Information | 12 Months Ended |
Dec. 31, 2020 | |
Segment Reporting [Abstract] | |
Segment Information | NOTE 4. SEGMENT INFORMATION Our segments are comprised of strategic business units that offer products and services to different customer segments over various technology platforms and/or in different geographies that are managed accordingly. We analyze our segments based on segment operating contribution, which consists of operating income, excluding acquisition-related costs and other significant items (as discussed below), and equity in net income (loss) of affiliates for investments managed within each segment. We have three reportable segments: (1) Communications, (2) WarnerMedia and (3) Latin America. We have recast our segment results for all prior periods to reflect the following: Communications segment results have been recast to remove the Video and Government Solutions businesses that were classified as held-for sale beginning in the first quarter of 2021, instead reporting those results in Corporate and Other, consistent with our historical practice. Additionally, we refined the allocation of shared infrastructure and deferred customer acquisition costs between Consumer Wireline and Video. WarnerMedia segment results were recast to include our prior Xandr segment within our WarnerMedia segment and to remove the Crunchyroll anime business that is classified as held-for-sale and removed from the WarnerMedia segment, instead including it in Corporate and Other. We also evaluate segment and business unit performance based on EBITDA and/or EBITDA margin. EBITDA is defined as operating contribution excluding equity in net income (loss) of affiliates and depreciation and amortization. We believe EBITDA to be a relevant and useful measurement to our investors as it is part of our internal management reporting and planning processes and it is an important metric that management uses to evaluate operating performance. EBITDA does not give effect to depreciation and amortization expenses incurred in operating contribution nor is it burdened by cash used for debt service requirements and thus does not reflect available funds for distributions, reinvestment or other discretionary uses. EBITDA margin is EBITDA divided by total revenues. The Communications segment provides wireless and wireline telecom and broadband services to consumers located in the U.S. and businesses globally. Our business strategies reflect bundled product offerings that cut across product lines and utilize shared assets. In December 2020, we changed our management strategy and reevaluated our domestic video business, allowing us to maximize value in our domestic video business and further accelerate our ability to innovate and execute in our fast-growing broadband and fiber business. In conjunction with the strategy change, we separated the former Entertainment Group into two business units, Video and Consumer Wireline, and recast our results for all prior periods. The Business Wireline business unit was also recast to remove video operations, instead including those in Video. Beginning in the first quarter of 2021, the Video business was classified as held-for-sale and recast to be reported in Corporate and Other. This segment contains the following business units: • Mobility provides nationwide wireless service and equipment. • Business Wireline provides advanced IP-based services, as well as traditional voice and data services to business customers. • Consumer Wireline provides internet, including broadband fiber, and legacy telephony voice communication services to residential customers. The WarnerMedia segment develops, produces and distributes feature films, television, gaming and other content in various physical and digital formats globally. Historical financial results of Eliminations & Other included in the WarnerMedia segment have been recast to include Xandr, previously a separate reportable segment, and to remove the Crunchyroll anime business that was classified as held-for-sale. This segment contains the following: • Turner primarily operates multichannel basic television networks and digital properties. Turner also sells advertising on its networks and digital properties. • Home Box Office consists of premium pay television and HBO Max domestically and premium pay, basic tier television internationally, and content licensing and home entertainment. • Warner Bros. primarily consists of the production, distribution and licensing of television programming and feature films, the distribution of home entertainment products and the production and distribution of games. • Eliminations & Other includes the Xandr advertising business, and also removes transactions between the Turner, Home Box Office and Warner Bros. business units, including internal sales of content to the HBO Max platform that began in the fourth quarter of 2019 (see Note 5). The Latin America segment provides entertainment and wireless services outside of the U.S. This segment contains the following business units: • Vrio provides video services primarily to residential customers using satellite technology in Latin America and the Caribbean. • Mexico provides wireless service and equipment to customers in Mexico. Corporate and Other reconciles our segment results to consolidated operating income and income before income taxes, and includes: • Corporate , which consists of: (1) businesses no longer integral to our operations or which we no longer actively market, (2) corporate support functions, (3) impacts of corporate-wide decisions for which the individual operating segments are not being evaluated, and (4) the reclassification of the amortization of prior service credits, which we continue to report with segment operating expenses, to consolidated “Other income (expense) – net.” • Video , which provides video, including over-the-top (OTT) services, and also sells multiplatform advertising services as video revenues. • Acquisition-related items, which consists of items associated with the merger and integration of acquired businesses, including amortization of intangible assets. • Certain significant items, which includes (1) employee separation charges associated with voluntary and/or strategic offers, (2) asset impairments and abandonments, and (3) other items for which the segments are not being evaluated. • Eliminations and consolidations , which (1) removes transactions involving dealings between our segments, including channel distribution between WarnerMedia and Communications, and (2) includes adjustments for our reporting of the advertising business. “Interest expense” and “Other income (expense) – net” are managed only on a total company basis and are, accordingly, reflected only in consolidated results. For the year ended December 31, 2020 Revenues Operations EBITDA Depreciation and Amortization Operating Equity in Net Segment Communications Mobility $ 72,564 $ 42,106 $ 30,458 $ 8,086 $ 22,372 $ — $ 22,372 Business Wireline 25,083 15,303 9,780 5,216 4,564 — 4,564 Consumer Wireline 12,318 8,027 4,291 2,914 1,377 — 1,377 Total Communications 109,965 65,436 44,529 16,216 28,313 — 28,313 WarnerMedia Turner 12,568 6,954 5,614 277 5,337 (2) 5,335 Home Box Office 6,808 6,028 780 98 682 16 698 Warner Bros. 12,154 9,917 2,237 169 2,068 (70) 1,998 Eliminations and other (1,088) (1,320) 232 127 105 74 179 Total WarnerMedia 30,442 21,579 8,863 671 8,192 18 8,210 Latin America Vrio 3,154 2,800 354 520 (166) 24 (142) Mexico 2,562 2,636 (74) 513 (587) — (587) Total Latin America 5,716 5,436 280 1,033 (753) 24 (729) Segment Total 146,123 92,451 53,672 17,920 35,752 $ 42 $ 35,794 Corporate and Other Corporate 1 2,207 4,205 (1,998) 310 (2,308) Video 28,610 24,174 4,436 2,262 2,174 Acquisition-related items — 468 (468) 8,012 (8,480) Certain significant items — 19,156 (19,156) 14 (19,170) Eliminations and consolidations (5,180) (3,615) (1,565) (2) (1,563) AT&T Inc. $ 171,760 $ 136,839 $ 34,921 $ 28,516 $ 6,405 1 Operations and Support Expenses include $2,442 for the reclassification of prior service credit amortization. For the year ended December 31, 2019 Revenues Operations EBITDA Depreciation Operating Equity in Net Segment Communications Mobility $ 71,056 $ 40,681 $ 30,375 $ 8,054 $ 22,321 $ — $ 22,321 Business Wireline 25,901 15,839 10,062 4,925 5,137 — 5,137 Consumer Wireline 13,012 7,775 5,237 2,880 2,357 — 2,357 Total Communications 109,969 64,295 45,674 15,859 29,815 — 29,815 WarnerMedia Turner 13,122 7,740 5,382 235 5,147 52 5,199 Home Box Office 6,749 4,312 2,437 102 2,335 30 2,365 Warner Bros. 14,358 11,816 2,542 162 2,380 (30) 2,350 Eliminations and other 1,030 304 726 90 636 109 745 Total WarnerMedia 35,259 24,172 11,087 589 10,498 161 10,659 Latin America Vrio 4,094 3,378 716 660 56 27 83 Mexico 2,869 3,085 (216) 502 (718) — (718) Total Latin America 6,963 6,463 500 1,162 (662) 27 (635) Segment Total 152,191 94,930 57,261 17,610 39,651 $ 188 $ 39,839 Corporate and Other Corporate 1 2,203 3,509 (1,306) 645 (1,951) Video 32,124 27,275 4,849 2,461 2,388 Acquisition-related items (72) 960 (1,032) 7,460 (8,492) Certain significant items — 2,082 (2,082) 43 (2,125) Eliminations and consolidations (5,253) (3,735) (1,518) (2) (1,516) AT&T Inc. $ 181,193 $ 125,021 $ 56,172 $ 28,217 $ 27,955 1 Operations and Support Expenses include $1,934 for the reclassification of prior service credit amortization. For the year ended December 31, 2018 Revenues Operations EBITDA Depreciation Operating Equity in Net Segment Communications Mobility $ 70,521 $ 40,690 $ 29,831 $ 8,263 $ 21,568 $ — $ 21,568 Business Wireline 26,494 16,012 10,482 4,704 5,778 — 5,778 Consumer Wireline 13,108 7,596 5,512 2,623 2,889 — 2,889 Total Communications 110,123 64,298 45,825 15,590 30,235 — 30,235 WarnerMedia Turner 6,979 3,794 3,185 131 3,054 54 3,108 Home Box Office 3,598 2,187 1,411 56 1,355 29 1,384 Warner Bros. 8,703 7,130 1,573 96 1,477 (28) 1,449 Eliminations and other 1,305 168 1,137 28 1,109 (30) 1,079 Total WarnerMedia 20,585 13,279 7,306 311 6,995 25 7,020 Latin America Vrio 4,784 3,743 1,041 728 313 34 347 Mexico 2,868 3,415 (547) 510 (1,057) — (1,057) Total Latin America 7,652 7,158 494 1,238 (744) 34 (710) Segment Total 138,360 84,735 53,625 17,139 36,486 $ 59 $ 36,545 Corporate and Other Corporate 1 2,481 2,502 (21) 1,637 (1,658) Video 33,363 28,856 4,507 2,698 1,809 Acquisition-related items (49) 1,185 (1,234) 6,931 (8,165) Certain significant items — 899 (899) 26 (925) Eliminations and consolidations (3,399) (1,947) (1,452) (1) (1,451) AT&T Inc. $ 170,756 $ 116,230 $ 54,526 $ 28,430 $ 26,096 1 Operations and Support Expenses include $1,753 for the reclassification of prior service credit amortization. The following table is a reconciliation of operating income (loss) to “Income Before Income Taxes” reported in our consolidated statements of income: 2020 2019 2018 Communications $ 28,313 $ 29,815 $ 30,235 WarnerMedia 8,210 10,659 7,020 Latin America (729) (635) (710) Segment Contribution 35,794 39,839 36,545 Reconciling Items: Corporate and Other (2,308) (1,951) (1,658) Video 2,174 2,388 1,809 Merger and integration items (468) (1,032) (1,234) Amortization of intangibles acquired (8,012) (7,460) (6,931) Impairments and abandonments (18,880) (1,458) (46) Gain on spectrum transaction 1 900 — — Employee separation charges and benefit-related (gain) loss (1,177) (624) (587) Other noncash charges (credits), net (13) (43) (111) Natural disaster items — — (181) Segment equity in net income of affiliates (42) (188) (59) Eliminations and consolidations (1,563) (1,516) (1,451) AT&T Operating Income 6,405 27,955 26,096 Interest Expense 7,925 8,422 7,957 Equity in net income (loss) of affiliates 95 6 (48) Other income (expense) - net (1,431) (1,071) 6,782 Income (Loss) Before Income Taxes $ (2,856) $ 18,468 $ 24,873 1 Included as a reduction of “Selling, general and administrative expenses” in the consolidated statements of income. The following table sets forth revenues earned from customers, and property, plant and equipment located in different geographic areas: 2020 2019 2018 Revenues Net Property, Plant & Equipment Revenues Net Property, Plant & Equipment Revenues Net Property, United States $ 155,899 $ 121,208 $ 161,689 $ 122,567 $ 154,795 $ 123,457 Europe 5,387 1,152 6,536 1,854 4,073 1,634 Mexico 2,862 3,530 3,198 3,648 3,100 3,467 Brazil 1,807 694 2,797 1,057 2,724 1,213 All other Latin America 2,679 485 3,219 544 3,055 1,217 Asia/Pacific Rim 2,322 203 2,793 390 2,214 408 Other 804 43 961 68 795 77 Total $ 171,760 $ 127,315 $ 181,193 $ 130,128 $ 170,756 $ 131,473 The following tables present intersegment revenues, assets, investments in equity affiliates and capital expenditures by segment: Intersegment Reconciliation 2020 2019 2018 Intersegment revenues Communications $ 11 $ 26 $ 13 WarnerMedia 3,183 3,318 1,875 Latin America — — — Total Intersegment Revenues 3,194 3,344 1,888 Consolidations 1,986 1,909 1,511 Eliminations and consolidations $ 5,180 $ 5,253 $ 3,399 At or for the years ended December 31, 2020 2019 Assets Investments in Capital Assets Investments in Capital Communications 1 $ 506,102 $ — $ 14,107 $ 492,649 $ — $ 17,410 WarnerMedia 148,037 1,123 699 140,376 3,011 1,205 Latin America 15,811 590 708 20,606 650 757 Corporate and eliminations 1 (144,189) 67 161 (101,962) 34 263 Total $ 525,761 $ 1,780 $ 15,675 $ 551,669 $ 3,695 $ 19,635 1 Amounts above have been updated to reflect the classification of our Video business as held-for-sale (beginning in the first quarter of 2021), which included the recast of historical results to remove Video from our Communications segment and instead report in Corporate and Other. |
Revenue Recognition
Revenue Recognition | 12 Months Ended |
Dec. 31, 2020 | |
Revenue from Contract with Customer [Abstract] | |
Revenue Recognition | NOTE 5. REVENUE RECOGNITION We report our revenues net of sales taxes and record certain regulatory fees, primarily Universal Service Fund (USF) fees, on a net basis. No customer accounted for more than 10% of consolidated revenues in 2020, 2019 or 2018. Wireless, Advanced Data, Legacy Voice & Data Services and Equipment Revenue We offer service-only contracts and contracts that bundle equipment used to access the services and/or with other service offerings. Some contracts have fixed terms and others are cancellable on a short-term basis (i.e., month-to-month arrangements). Examples of service revenues include wireless, video entertainment (e.g., AT&T U-verse and DIRECTV), strategic services (e.g., virtual private network service), and legacy voice and data (e.g., traditional local and long-distance). These services represent a series of distinct services that is considered a separate performance obligation. Service revenue is recognized when services are provided, based upon either usage (e.g., minutes of traffic/bytes of data processed) or period of time (e.g., monthly service fees). Some of our services require customer premises equipment that, when combined and integrated with AT&T’s specific network infrastructure, facilitates the delivery of service to the customer. In evaluating whether the equipment is a separate performance obligation, we consider the customer’s ability to benefit from the equipment on its own or together with other readily available resources and if so, whether the service and equipment are separately identifiable (i.e., is the service highly dependent on, or highly interrelated with the equipment). When the equipment does not meet the criteria to be a separate performance obligation (e.g., equipment associated with certain video services), we allocate the total transaction price to the related service. When equipment is a separate performance obligation, we record the sale of equipment when title has passed and the products are accepted by the customer. For devices sold through indirect channels (e.g., national dealers), revenue is recognized when the dealer accepts the device, not upon activation. Our equipment and service revenues are predominantly recognized on a gross basis, as most of our services do not involve a third party and we typically control the equipment that is sold to our customers. Revenue recognized from fixed term contracts that bundle services and/or equipment is allocated based on the stand-alone selling price of all required performance obligations of the contract (i.e., each item included in the bundle). Promotional discounts are attributed to each required component of the arrangement, resulting in recognition over the contract term. Stand-alone selling prices are determined by assessing prices paid for service-only contracts (e.g., arrangements where customers bring their own devices) and stand-alone device pricing. We offer the majority of our customers the option to purchase certain wireless devices in installments over a specified period of time, and, in many cases, they may be eligible to trade in the original equipment for a new device and have the remaining unpaid balance paid or settled. For customers that elect these equipment installment payment programs, at the point of sale, we recognize revenue for the entire amount of revenue allocated to the customer receivable net of fair value of the trade-in right guarantee. The difference between the revenue recognized and the consideration received is recorded as a note receivable when the devices are not discounted and our right to consideration is unconditional. When installment sales include promotional discounts (e.g., “buy one get one free”), the difference between revenue recognized and consideration received is recorded as a contract asset to be amortized over the contract term. Less commonly, we offer certain customers highly discounted devices when they enter into a minimum service agreement term. For these contracts, we recognize equipment revenue at the point of sale based on a stand-alone selling price allocation. The difference between the revenue recognized and the cash received is recorded as a contract asset that will amortize over the contract term. Our contracts allow for customers to frequently modify their arrangement, without incurring penalties in many cases. When a contract is modified, we evaluate the change in scope or price of the contract to determine if the modification should be treated as a new contract or if it should be considered a change of the existing contract. We generally do not have significant impacts from contract modifications. Revenues from transactions between us and our customers are recorded net of revenue-based regulatory fees and taxes. Cash incentives given to customers are recorded as a reduction of revenue. Nonrefundable, upfront service activation and setup fees associated with service arrangements are deferred and recognized over the associated service contract period or customer relationship life. Subscription Revenue Subscription revenues from cable networks and premium pay and basic-tier television services are recognized over the license period as programming is provided to affiliates or digital distributors based on negotiated contractual programming rates. When a distribution contract with an affiliate has expired and a new distribution contract has not been executed, revenues are based on estimated rates, giving consideration to factors including the previous contractual rates, inflation, current payments by the affiliate and the status of the negotiations on a new contract. When the new distribution contract terms are finalized, an adjustment to revenue is recorded, if necessary, to reflect the new terms. Subscription revenues from end-user subscribers are recognized when services are provided, based upon either usage or period of time. Subscription revenues from streaming services are recognized as programming services are provided to customers. Content Revenue Feature films typically are produced or acquired for initial exhibition in theaters, followed by distribution, generally commencing within three years of such initial exhibition. Revenues from film rentals by theaters are recognized as the films are exhibited. Television programs and series are initially produced for broadcast and may be subsequently licensed or sold in physical format and/or electronic delivery. Revenues from the distribution of television programming through broadcast networks, cable networks, first-run syndication and streaming services are recognized when the programs or series are available to the licensee. In certain circumstances, pursuant to the terms of the applicable contractual arrangements, the availability dates granted to customers may precede the date in which the customer can be billed for these sales. Revenues from sales of feature films and television programming in physical format are recognized at the later of the delivery date or the date when made widely available for sale or rental by retailers based on gross sales less a provision for estimated returns, rebates and pricing allowances. Revenues from the licensing of television programs and series for electronic sell-through or video-on-demand are recognized when the product has been purchased by and made available to the consumer to either download or stream. Upfront or guaranteed payments for the licensing of intellectual property are recognized as revenue at either the inception of the license term if the intellectual property has significant standalone functionality or over the corresponding license term if the licensee’s ability to derive utility is dependent on our continued support of the intellectual property throughout the license term. Revenues from the sales of console games are recognized at the later of the delivery date or the date that the product is made widely available for sale or rental by retailers based on gross sales less a provision for estimated returns, rebates and pricing allowances. Advertising Revenue Advertising revenues are recognized, net of agency commissions, in the period that the advertisements are aired. If there is a targeted audience guarantee, revenues are recognized for the actual audience delivery and revenues are deferred for any shortfall until the guaranteed audience delivery is met, typically by providing additional advertisements. Advertising revenues from digital properties are recognized as impressions are delivered or the services are performed. Revenue Categories The following tables set forth reported revenue by category and by business unit. Intercompany transactions between segments and the dual reporting of certain advertising revenues are included in “Eliminations and consolidations.” Intercompany transactions between Turner, Home Box Office and Warner Bros., including internal sales to HBO Max that began in the fourth quarter of 2019, are included in “Eliminations and Other.” For the year ended December 31, 2020 Service Revenues Wireless Business Advanced Legacy Voice & Data Subscription Content Advertising Other Equipment Total Communications Mobility $ 55,251 $ — $ — $ — $ — $ — $ 291 $ — $ 17,022 $ 72,564 Business Wireline — 24,313 — — — — — — 770 25,083 Consumer Wireline — — 8,534 2,213 — — — 1,564 7 12,318 WarnerMedia Turner — — — — 7,613 759 3,941 255 — 12,568 Home Box Office — — — — 6,090 692 — 26 — 6,808 Warner Bros. — — — — 50 11,632 6 466 — 12,154 Eliminations and Other 1 — — — — 12 (3,264) 2,178 (14) — (1,088) Latin America Vrio — — — — 3,154 — — — — 3,154 Mexico 1,656 — — — — — — — 906 2,562 Corporate and Other 528 321 — 554 26,747 — 1,718 661 288 30,817 Eliminations and consolidations 2 — — — — (3,110) — (1,718) (352) — (5,180) Total Operating Revenues $ 57,435 $ 24,634 $ 8,534 $ 2,767 $ 40,556 $ 9,819 $ 6,416 $ 2,606 $ 18,993 $ 171,760 1 Eliminations and other of $3,264 include Warner Bros. content sales of approximately $2,250 with HBO Max, $600 with HBO linear and $300 with Turner. 2 Eliminations and consolidations of $3,110 include approximately $1,500 and $950 of Turner and HBO linear channel distribution arrangements with the Video business, respectively. HBO customer subscriptions were approximately $290 with Mobility and $180 with Consumer Wireline. For the year ended December 31, 2019 Service Revenues Wireless Business Advanced Legacy Voice & Data Subscription Content Advertising Other Equipment Total Communications Mobility $ 55,039 $ — $ — $ — $ — $ — $ 292 $ — $ 15,725 $ 71,056 Business Wireline — 25,116 — — — — — — 785 25,901 Consumer Wireline — — 8,403 2,573 — — — 2,029 7 13,012 WarnerMedia Turner — — — — 7,736 481 4,566 339 — 13,122 Home Box Office — — — — 5,814 925 — 10 — 6,749 Warner Bros. — — — — 88 13,532 41 697 — 14,358 Eliminations and Other 1 — — — — 13 (1,058) 2,071 4 — 1,030 Latin America Vrio — — — — 4,094 — — — — 4,094 Mexico 1,863 — — — — — — — 1,006 2,869 Corporate and Other 628 325 — 565 30,451 — 1,672 443 171 34,255 Eliminations and consolidations 2 — — — — (3,249) — (1,672) (332) — (5,253) Total Operating Revenues $ 57,530 $ 25,441 $ 8,403 $ 3,138 $ 44,947 $ 13,880 $ 6,970 $ 3,190 $ 17,694 $ 181,193 1 Eliminations and other of $1,058 include Warner Bros. content sales of approximately $500 with HBO linear and $350 with Turner. 2 Eliminations and consolidations of $3,249 include approximately $1,740 and $1,320 of Turner and HBO linear channel distribution arrangements with the Video business, respectively. For the year ended December 31, 2018 Service Revenues Wireless Business Advanced Legacy Voice & Data Subscription Content Advertising Other Equipment Total Communications Mobility $ 54,063 $ — $ — $ — $ — $ — $ 232 $ — $ 16,226 $ 70,521 Business Wireline — 25,671 — — — — — — 823 26,494 Consumer Wireline — — 7,956 3,042 — — — 2,101 9 13,108 WarnerMedia Turner — — — — 4,207 295 2,330 147 — 6,979 Home Box Office — — — — 3,201 391 — 6 — 3,598 Warner Bros. — — — — 47 8,216 53 387 — 8,703 Eliminations and Other 1 — — — — 6 (518) 1,807 10 — 1,305 Latin America Vrio — — — — 4,784 — — — — 4,784 Mexico 1,701 — — — — — — — 1,167 2,868 Corporate and Other 718 395 — 288 31,768 — 1,595 845 186 35,795 Eliminations and consolidations 2 — — — — (1,843) — (1,595) 39 — (3,399) Total Operating Revenues $ 56,482 $ 26,066 $ 7,956 $ 3,330 $ 42,170 $ 8,384 $ 4,422 $ 3,535 $ 18,411 $ 170,756 1 Eliminations and other of $518 include Warner Bros. content sales of approximately $225 with HBO linear and $225 with Turner. 2 Eliminations and consolidations of $1,843 include approximately $1,000 and $700 of Turner and HBO linear channel distribution arrangements with the Video business, respectively. Deferred Customer Contract Acquisition and Fulfillment Costs Costs to acquire and fulfill customer contracts, including commissions on service activations, for our wireless, business wireline and video services, are deferred and amortized over the contract period or expected customer relationship life, which typically ranges from three years to five years. For contracts with an estimated amortization period of less than one year, we expense incremental costs immediately. The following table presents the deferred customer contract acquisition and fulfillment costs included on our consolidated balance sheets at December 31: Consolidated Balance Sheets 2020 2019 Deferred Acquisition Costs Other current assets $ 3,087 $ 2,462 Other Assets 3,198 2,991 Total deferred customer contract acquisition costs $ 6,285 $ 5,453 Deferred Fulfillment Costs Other current assets $ 4,118 $ 4,519 Other Assets 5,634 6,439 Total deferred customer contract fulfillment costs $ 9,752 $ 10,958 The following table presents amortization of deferred customer contract acquisition and fulfillment costs, which are recorded in other cost of revenues in our consolidated statements of income, for the year ended December 31: Consolidated Statements of Income 2020 2019 Deferred acquisition cost amortization $ 2,755 $ 2,174 Deferred fulfillment cost amortization 5,110 4,947 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 equipment installment sales include promotional discounts (e.g., “buy one get one free”) the difference between revenue recognized and consideration received is recorded as a contract asset to be amortized over the contract term. When consideration is received in advance of the delivery of goods or services, a contract liability is recorded for deferred revenue. Reductions in the contract liability will be recorded as revenue as we satisfy the performance obligations. The following table presents contract assets and liabilities on our consolidated balance sheets at December 31: Consolidated Balance Sheets 2020 2019 Contract assets $ 3,501 $ 2,472 Contract liabilities 6,879 6,999 Our beginning of period contract liabilities recorded as customer contract revenue during 2020 was $5,579. Our consolidated balance sheets at December 31, 2020 and 2019 included approximately $2,054 and $1,611, respectively, for the current portion of our contract assets in “Other current assets” and $6,071 and $5,939, respectively, for the current portion of our contract liabilities in “Advanced billings and customer deposits.” 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 nonrecurring charges and estimates for usage, nor do we consider arrangements with an original expected duration of less than one year, which are primarily prepaid wireless, video and residential internet agreements. Remaining performance obligations associated with business contracts reflect recurring charges billed, adjusted to reflect estimates for sales incentives and revenue adjustments. Performance obligations associated with wireless contracts are estimated using a portfolio approach in which we review all relevant promotional activities, calculating the remaining performance obligation using the average service component for the portfolio and the average device price. As of December 31, 2020, the aggregate amount of the transaction price allocated to remaining performance obligations was $42,072, of which we expect to recognize approximately 60% by the end of 2021, with the remaining balance recognized thereafter. |
Acquisitions, Dispositions And
Acquisitions, Dispositions And Other Adjustments | 12 Months Ended |
Dec. 31, 2020 | |
Business Combinations [Abstract] | |
Acquisitions, Dispositions And Other Adjustments | NOTE 6. ACQUISITIONS, DISPOSITIONS AND OTHER ADJUSTMENTS Acquisitions HBO Latin America Group (HBO LAG) In May 2020, we acquired the remaining interest in HBO LAG for $141, net of cash acquired. At acquisition, we remeasured the fair value of the total business, which exceeded the carrying amount of our equity method investment and resulted in a pre-tax gain of $68. We consolidated that business upon close and recorded those assets at fair value, including $640 of trade names, $271 of distribution networks and $346 of goodwill that is reported in the WarnerMedia segment. These estimates are preliminary in nature and subject to adjustments, which will be finalized within one year from the date of acquisition. Time Warner In June 2018, we completed our acquisition of Time Warner, a leader in media and entertainment whose major businesses encompass an array of some of the most respected media brands. For accounting purposes, the transaction was valued at $79,358. Our consolidated balance sheets include the assets and liabilities of Time Warner, which were measured at fair value. For the 200-day period ended December 31, 2018, our consolidated statement of income included $18,209 of revenues and $1,400 of operating income, which included $3,296 of intangible amortization, from Time Warner and its affiliates. The following unaudited pro forma consolidated results of operations assume that the acquisition of Time Warner was completed as of January 1, 2017. (Unaudited) 2018 2017 Total operating revenues $ 183,651 $ 188,769 Net Income Attributable to AT&T 20,814 31,380 Basic Earnings Per Share Attributable to Common Stock $ 2.86 $ 4.30 Diluted Earnings Per Share Attributable to Common Stock $ 2.85 $ 4.26 Pro forma data may not be indicative of the results that would have been obtained had these events occurred at the beginning of the periods presented, nor is it intended to be a projection of future results. Otter Media On August 7, 2018, we acquired the remaining interest in Otter Media Holdings (Otter Media) for $157 in cash and the conversion to equity of the $1,480 advance made in the first quarter of 2018. At acquisition, we remeasured the fair value of the total business, which exceeded the carrying amount of our equity method investment and resulted in a pre-tax gain of $395. We consolidated that business upon close and recorded those assets at fair value, including $1,239 of goodwill that is reported in the WarnerMedia segment. AppNexus On August 15, 2018, we purchased AppNexus for $1,432 and recorded $1,220 of goodwill that is reported in the WarnerMedia segment. Our investment allows us to create a marketplace for TV and digital video advertising. Spectrum Auctions In June 2020, we completed the acquisition of $2,379 of 37/39 GHz spectrum in a Federal Communications Commission (FCC) auction. Prior to the auction, we exchanged the 39 GHz licenses with a book value of approximately $300 that were previously acquired through FiberTower Corporation for vouchers to be applied against the winning bids and recorded a $900 gain in the first quarter of 2020. These vouchers yielded a value of approximately $1,200, which was applied toward our gross bids. In the second quarter of 2020, we made the final cash payment of $949, bringing the total cash payment to $1,186. In December 2019, we acquired $982 of 24 GHz spectrum in an FCC auction. Dispositions Central European Media Enterprises Ltd. (CME) On October 13, 2020, we completed the sale of our 65.3% interest in CME, a European broadcasting company, for approximately $1,100 and recorded a pre-tax gain of $39. Upon close, we received relief from a debt guarantee originally covering approximately $1,100 that was reduced to $600 at the time of the sale. Operations in Puerto Rico On October 31, 2020, we completed the sale of our previously held-for-sale wireless and wireline operations in Puerto Rico and the U.S. Virgin Islands for approximately $1,950 and recorded a pre-tax loss of $82. Upon sale we removed held-for-sale assets (“Other current assets”) and held-for-sale liabilities (“Accounts payable and accrued liabilities”) that primarily consisted of FCC licenses (approximately $1,100), allocated goodwill (approximately $250), net property, plant and equipment (approximately $850) and net tax liabilities (approximately $500), previously reported on our consolidated balance sheets. The proceeds were used to redeem $1,950 of cumulative preferred interests in a subsidiary that held notes secured by the proceeds of this sale. Hudson Yards In June 2019, we sold our ownership in Hudson Yards North Tower Holdings LLC under a sale-leaseback arrangement for cash proceeds of $2,081 and recorded a loss of approximately $100 resulting from transaction costs (primarily real estate transfer taxes). Hulu In April 2019, we sold our ownership in Hulu for cash proceeds of $1,430 and recorded a pre-tax gain of $740. Data Colocation Operations On December 31, 2018, we sold certain data centers to Brookfield Infrastructure Partners for $1,100 and recorded a pre-tax gain of $432. The sale included assets; primarily consisting of property, plant and equipment, of $298; and goodwill of $215. |
Property, Plant And Equipment
Property, Plant And Equipment | 12 Months Ended |
Dec. 31, 2020 | |
Property, Plant and Equipment [Abstract] | |
Property, Plant And Equipment | NOTE 7. PROPERTY, PLANT AND EQUIPMENT Property, plant and equipment is summarized as follows at December 31: Lives (years) 2020 2019 Land - $ 2,571 $ 2,651 Buildings and improvements 2-44 39,418 38,924 Central office equipment 1 3-10 95,981 96,061 Cable, wiring and conduit 15-50 75,409 72,042 Satellites 14-17 908 2,489 Other equipment 3-20 90,883 94,951 Software 3-7 18,482 22,244 Under construction - 4,099 4,176 327,751 333,538 Accumulated depreciation and amortization 200,436 203,410 Property, plant and equipment - net $ 127,315 $ 130,128 1 Includes certain network software. Our depreciation expense was $20,277 in 2020, $20,285 in 2019 and $20,083 in 2018. Depreciation expense included amortization of software totaling $3,483 in 2020, $3,313 in 2019 and $3,092 in 2018. In December 2020, we reassessed our grouping of long-lived assets and identified certain impairment indicators, requiring us to evaluate the recoverability of the long-lived assets of our video business. Based on this evaluation, we determined that these assets were not fully recoverable and recognized pre-tax impairment charges totaling $7,255, of which $1,681 relates to property, plant and equipment, including satellites. The reduced carrying amounts of the impaired assets became their new cost basis. In 2019, we recorded a noncash pre-tax charge of $1,290 to abandon copper assets that we no longer expect will be utilized to support future network activity. The abandonment was considered outside the ordinary course of business. |
Leases
Leases | 12 Months Ended |
Dec. 31, 2020 | |
Leases [Abstract] | |
Leases | NOTE 8. LEASES We have operating and finance leases for certain facilities and equipment used in our operations. Our leases generally have remaining lease terms of up to 15 years. Some of our real estate operating leases contain renewal options that may be exercised, and some of our leases include options to terminate the leases within one year. We have recognized a right-of-use asset for both operating and finance leases, and a corresponding lease liability that represents the present value of our obligation to make payments over the lease term. The present value of the lease payments is calculated using the incremental borrowing rate for operating and finance leases, which was determined using a portfolio approach based on the rate of interest that we would have to pay to borrow an amount equal to the lease payments on a collateralized basis over a similar term. We use the unsecured borrowing rate and risk-adjust that rate to approximate a collateralized rate in the currency of the lease, which will be updated on a quarterly basis for measurement of new lease liabilities. The components of lease expense were as follows: 2020 2019 Operating lease cost $ 5,896 $ 5,684 Finance lease cost: Amortization of right-of-use assets $ 287 $ 271 Interest on lease obligation 156 169 Total finance lease cost $ 443 $ 440 The following table provides supplemental cash flows information related to leases: 2020 2019 Cash Flows from Operating Activities Cash paid for amounts included in lease obligations: Operating cash flows from operating leases $ 4,852 $ 4,583 Supplemental Lease Cash Flow Disclosures Operating lease right-of-use assets obtained in exchange for new operating lease obligations $ 5,270 $ 7,818 The following tables set forth supplemental balance sheet information related to leases at December 31: 2020 2019 Operating Leases Operating lease right-of-use assets $ 24,714 $ 24,039 Accounts payable and accrued liabilities $ 3,537 3,451 Operating lease obligation 22,202 21,804 Total operating lease obligation $ 25,739 $ 25,255 Finance Leases Property, plant and equipment, at cost $ 3,586 $ 3,534 Accumulated depreciation and amortization (1,361) (1,296) Property, plant and equipment, net $ 2,225 $ 2,238 Current portion of long-term debt $ 189 $ 162 Long-term debt 1,847 1,872 Total finance lease obligation $ 2,036 $ 2,034 2020 2019 Weighted-Average Remaining Lease Term (years) Operating leases 8.5 8.4 Finance leases 9.9 10.3 Weighted-Average Discount Rate Operating leases 4.1 % 4.2 % Finance leases 8.1 % 8.4 % The following table provides the expected future minimum maturities of lease obligations: Operating Leases Finance 2021 $ 4,808 $ 350 2022 4,527 333 2023 4,094 300 2024 3,560 276 2025 2,904 272 Thereafter 11,230 1,609 Total lease payments 31,123 3,140 Less: imputed interest (5,384) (1,104) Total $ 25,739 $ 2,036 |
Leases | NOTE 8. LEASES We have operating and finance leases for certain facilities and equipment used in our operations. Our leases generally have remaining lease terms of up to 15 years. Some of our real estate operating leases contain renewal options that may be exercised, and some of our leases include options to terminate the leases within one year. We have recognized a right-of-use asset for both operating and finance leases, and a corresponding lease liability that represents the present value of our obligation to make payments over the lease term. The present value of the lease payments is calculated using the incremental borrowing rate for operating and finance leases, which was determined using a portfolio approach based on the rate of interest that we would have to pay to borrow an amount equal to the lease payments on a collateralized basis over a similar term. We use the unsecured borrowing rate and risk-adjust that rate to approximate a collateralized rate in the currency of the lease, which will be updated on a quarterly basis for measurement of new lease liabilities. The components of lease expense were as follows: 2020 2019 Operating lease cost $ 5,896 $ 5,684 Finance lease cost: Amortization of right-of-use assets $ 287 $ 271 Interest on lease obligation 156 169 Total finance lease cost $ 443 $ 440 The following table provides supplemental cash flows information related to leases: 2020 2019 Cash Flows from Operating Activities Cash paid for amounts included in lease obligations: Operating cash flows from operating leases $ 4,852 $ 4,583 Supplemental Lease Cash Flow Disclosures Operating lease right-of-use assets obtained in exchange for new operating lease obligations $ 5,270 $ 7,818 The following tables set forth supplemental balance sheet information related to leases at December 31: 2020 2019 Operating Leases Operating lease right-of-use assets $ 24,714 $ 24,039 Accounts payable and accrued liabilities $ 3,537 3,451 Operating lease obligation 22,202 21,804 Total operating lease obligation $ 25,739 $ 25,255 Finance Leases Property, plant and equipment, at cost $ 3,586 $ 3,534 Accumulated depreciation and amortization (1,361) (1,296) Property, plant and equipment, net $ 2,225 $ 2,238 Current portion of long-term debt $ 189 $ 162 Long-term debt 1,847 1,872 Total finance lease obligation $ 2,036 $ 2,034 2020 2019 Weighted-Average Remaining Lease Term (years) Operating leases 8.5 8.4 Finance leases 9.9 10.3 Weighted-Average Discount Rate Operating leases 4.1 % 4.2 % Finance leases 8.1 % 8.4 % The following table provides the expected future minimum maturities of lease obligations: Operating Leases Finance 2021 $ 4,808 $ 350 2022 4,527 333 2023 4,094 300 2024 3,560 276 2025 2,904 272 Thereafter 11,230 1,609 Total lease payments 31,123 3,140 Less: imputed interest (5,384) (1,104) Total $ 25,739 $ 2,036 |
Goodwill And Other Intangible A
Goodwill And Other Intangible Assets | 12 Months Ended |
Dec. 31, 2020 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill And Other Intangible Assets | NOTE 9. GOODWILL AND OTHER INTANGIBLE ASSETS We test goodwill for impairment at a reporting unit level, which is deemed to be our principal operating segments or one level below. With our annual impairment testing as of October 1, 2020, the calculated fair values of the reporting units exceeded their book values in all circumstances; however, the Turner, HBO and Entertainment Group (prior to the reporting unit change) fair values exceeded their book values by less than 10%, with COVID-19 impacts, industry trends and our content distribution strategy affecting fair value. In December 2020, we changed our management strategy and reevaluated our domestic video business, allowing us to maximize value in our domestic video business and further accelerate our ability to innovate and execute in our fast-growing broadband and fiber business. The strategy change required us to reassess the grouping and recoverability of the video business long-lived assets. In conjunction with the strategy change, we separated the former Entertainment Group reporting unit into two reporting units, Video and Consumer Wireline, which includes legacy telephony operations. Our recoverability assessment resulted in $7,255 of long-lived asset impairment in the video business, including $4,373 for orbital slots and $1,201 for customer lists. The change in reporting unit required the historical Entertainment Group goodwill to be assigned to the separate Video and Consumer Wireline reporting units, for which we used the relative fair value allocation methodology. The affected reporting units were then tested for goodwill impairment. We recorded an impairment of the entire $8,253 of goodwill allocated to the Video reporting unit. No goodwill impairment was required in the Consumer Wireline reporting unit. As further discussed in Note 23, beginning in the first quarter of 2021, the Video business met the criteria to be classified as held-for-sale and, as a result, was subsequently removed from the former Entertainment Group reporting unit. This change was made subsequent to the recoverability assessment described herein and had no effect on that assessment. In the second quarter of 2020, driven by significant and adverse economic and political environments in Latin America, including the impact of COVID-19, we experienced accelerated subscriber losses and revenue decline in the region, as well as closure of our operations in Venezuela. When combining these business trends and higher weighted-average cost of capital resulting from the increase in country-risk premiums in the region, we concluded that it was more likely than not that the fair value of the Vrio reporting unit, estimated using discounted cash flow and market multiple approaches, was less than its carrying amount. We recorded a $2,212 goodwill impairment in the Vrio reporting unit, with $105 attributable to noncontrolling interest. Other changes to our goodwill in 2020 resulted from foreign currency translation, the held-for-sale treatment of our Crunchyroll anime business and our acquisition of the remaining interest in HBO LAG (see Note 6). In 2020, the prior Xandr segment was combined with our WarnerMedia segment. Changes to our goodwill in 2019 primarily resulted from the held-for-sale treatment of wireless and wireline operations in Puerto Rico and the U.S. Virgin Islands (see Note 6) and final valuations related to our acquisitions of Time Warner and Otter Media, as well as changes from foreign currency translation. At December 31, 2020, our Communications segment has four reporting units: Mobility, Video, Consumer Wireline and Business Wireline. Our WarnerMedia segment has four reporting units: Turner, Home Box Office, Warner Bros. and Xandr. Our Latin America segment has two reporting units: Vrio and Mexico. The following table sets forth the changes in the carrying amounts of goodwill by operating segment: 2020 2019 Balance at Acquisitions Impairments Dispositions, Balance at Balance at Acquisitions Dispositions, Balance at Communications $ 100,234 $ — $ (8,253) $ (5) $ 91,976 $ 100,551 $ — $ (317) $ 100,234 WarnerMedia 42,345 415 — (313) 42,447 42,101 66 178 42,345 Latin America 3,662 — (2,212) (614) 836 3,718 — (56) 3,662 Total $ 146,241 $ 415 $ (10,465) $ (932) $ 135,259 $ 146,370 $ 66 $ (195) $ 146,241 We review amortized intangible assets for impairment whenever events or circumstances indicate that the carrying amount may not be recoverable over the remaining life of the asset or asset group, including the video business previously discussed. In 2020, we changed the estimated lives of our orbital slot licenses from indefinite to finite-lived and began amortizing them over their average remaining economic life of 15 years (see Note 1). Our other intangible assets at December 31 are summarized as follows: 2020 2019 Other Intangible Assets Weighted-Average Life Gross Carrying Accumulated Currency Gross Carrying Accumulated Currency Amortized intangible assets: Wireless licenses 1 24.6 years $ 2,979 $ 271 $ (421) $ 2,981 $ 156 $ (243) Orbital slots 2 15.0 years 5,825 — — — — — Trademarks and trade names 37.1 years 20,016 1,518 (442) 18,359 853 (6) Distribution network 10.0 years 18,414 4,621 — 18,138 2,793 — Released television and film content 17.5 years 10,940 6,240 — 10,941 4,974 — Customer lists and relationships 9.3 years 4,100 1,645 (460) 20,304 14,773 (281) Other 21.3 years 11,311 2,615 (5) 11,427 1,843 (3) Total 22.3 years $ 73,585 $ 16,910 $ (1,328) $ 82,150 $ 25,392 $ (533) 1 Includes $1,561 of wireless license renewals in Mexico in 2019. 2 Changed from indefinite-lived January 1, 2020. Indefinite-lived intangible assets not subject to amortization, net of currency translation adjustment: Licenses: Wireless licenses $ 85,728 $ 83,623 Orbital slots 1 — 11,702 Trade names 5,241 6,067 Total $ 90,969 $ 101,392 1 Changed to amortized January 1, 2020. Amortized intangible assets are definite-life assets, and, as such, we record amortization expense based on a method that most appropriately reflects our expected cash flows from these assets. Amortization expense for definite-life intangible assets was $8,239 for the year ended December 31, 2020, $7,932 for the year ended December 31, 2019 and $8,347 for the year ended December 31, 2018. Amortization expense is estimated to be $5,987 in 2021, $5,363 in 2022, $4,846 in 2023, $4,302 in 2024 and $4,046 in 2025. |
Equity Method Investments
Equity Method Investments | 12 Months Ended |
Dec. 31, 2020 | |
Equity Method Investments and Joint Ventures [Abstract] | |
Equity Method Investments | NOTE 10. EQUITY METHOD INVESTMENTS Investments in partnerships, joint ventures and less than majority-owned subsidiaries in which we have significant influence are accounted for under the equity method. In May 2020, we acquired the remaining interest in HBO LAG and fully consolidated that entity. In October 2020, we sold our ownership interest in CME. (See Note 6) In 2019, we sold our investments in Hudson Yards and Hulu. (See Note 6) In 2018, we acquired Time Warner, which included various equity method investments. The difference between the fair values and the proportional carrying amounts of those investments’ net assets primarily related to investments in CME (sold in 2020) and HBO LAG (consolidated in 2020). (See Note 6) Our investments in equity affiliates at December 31, 2020 primarily include our interests in SKY Mexico and The CW Network. SKY Mexico We hold a 41.3% interest in SKY Mexico, which is a leading pay-TV provider in Mexico. The CW Network (The CW) We hold a 50.0% interest in The CW, which is an advertising supported broadcasting and licensing joint venture between Warner Bros. and CBS Corporation. The following table is a reconciliation of our investments in equity affiliates as presented on our consolidated balance sheets: 2020 2019 Beginning of year $ 3,695 $ 6,245 Additional investments 178 448 Acquisition of remaining interest in HBO LAG (1,141) — Disposition of CME (749) — Disposition of Hudson Yards — (1,681) Disposition of Hulu — (689) Disposition of Game Show Network — (288) Equity in net income (loss) of affiliates 95 6 Dividends and distributions received (133) (301) Currency translation adjustments (10) (10) Impairments (146) — Other adjustments (9) (35) End of year $ 1,780 $ 3,695 |
Inventories And Theatrical Film
Inventories And Theatrical Film And Television Production Costs | 12 Months Ended |
Dec. 31, 2020 | |
Inventory Disclosure [Abstract] | |
Inventories And Theatrical Film And Television Production Costs | NOTE 11. INVENTORIES AND THEATRICAL FILM AND TELEVISION PRODUCTION COSTS Film and television production costs are stated at the lower of cost, less accumulated amortization, or fair value and include the unamortized cost of completed theatrical films and television episodes, theatrical films and television series in production and undeveloped film and television rights. The amount of capitalized film and television production costs recognized as broadcast, programming and operations expenses for a given period is determined using the film forecast computation method. As of January 1, 2019, we reclassified $2,274 of our programming inventory costs from “Other current assets” to “Other Assets” in connection with the adoption of ASU 2019-2 (see Note 1). In the fourth quarter of 2020, we recognized an impairment of $524 based on a change in these estimates for various film titles. This change in estimates was driven by the continued shutdown of theaters during the pandemic, including the resurgence of an outbreak in the fourth quarter and the impact of our decision to release our 2021 movies in theaters and on HBO Max at the same time. The following table summarizes inventories and theatrical film and television production costs as of December 31: 2020 2019 Inventories: Programming costs, less amortization 1 $ 6,010 $ 4,151 Other inventory, primarily DVD and Blu-ray Discs 103 96 Total inventories 6,113 4,247 Less: current portion of inventory (103) (96) Total noncurrent inventories 6,010 4,151 Theatrical film production costs: 2 Released, less amortization 487 392 Completed and not released 616 437 In production 1,130 1,475 Development and pre-production 190 171 Television production costs: 2 Released, less amortization 2,495 2,199 Completed and not released 1,381 1,344 In production 2,353 2,208 Development and pre-production 90 57 Total theatrical film and television production costs 8,742 8,283 Total noncurrent inventories and theatrical film and television production costs $ 14,752 $ 12,434 1 Includes the costs of certain programming rights, primarily sports, for which payments have been made prior to the related rights being received. 2 Does not include $4,699 and $5,967 of acquired film and television library intangible assets as of December 31, 2020, and 2019, respectively, which are included in “Other Intangible Assets – Net” on our consolidated balance sheets. Approximately 90% of unamortized film costs for released theatrical and television content are expected to be amortized within three years from December 31, 2020. In addition, approximately $3,111 of the total $5,171 film costs of released and completed and not released theatrical and television product are expected to be amortized during 2021. |
Debt
Debt | 12 Months Ended |
Dec. 31, 2020 | |
Debt Disclosure [Abstract] | |
Debt | NOTE 12. DEBT Long-term debt of AT&T and its subsidiaries, including interest rates and maturities, is summarized as follows at December 31: 2020 2019 Notes and debentures Interest Rates Maturities 1 0.98% - 2.99% 2020 - 2039 $ 25,549 $ 17,404 3.00% - 4.99% 2020 - 2050 110,317 102,595 5.00% - 6.99% 2020 - 2095 24,259 34,513 7.00% - 9.15% 2020 - 2097 5,006 5,050 Credit agreement borrowings 300 4,969 Fair value of interest rate swaps recorded in debt 20 26 165,451 164,557 Unamortized (discount) premium - net (9,710) (2,996) Unamortized issuance costs (532) (452) Total notes and debentures 155,209 161,109 Finance lease obligations 2,036 2,034 Total long-term debt, including current maturities 157,245 163,143 Current maturities of long-term debt (3,470) (11,834) Total long-term debt $ 153,775 $ 151,309 1 Maturities assume putable debt is redeemed by the holders at the next opportunity. We had outstanding Euro, British pound sterling, Canadian dollar, Mexican peso, Australian dollar, Swiss franc and Brazilian real denominated debt of approximately $43,399 and $42,485 at December 31, 2020 and 2019, respectively. The weighted-average interest rate of our entire long-term debt portfolio, including the impact of derivatives, was approximately 4.1% as of December 31, 2020 and 4.4% as of December 31, 2019. Current maturities of long-term debt include an accreting zero-coupon note that may be redeemed each May, until maturity in 2022. If the zero-coupon note (issued for principal of $500 in 2007 and partially exchanged in the 2017 debt exchange offers) is held to maturity, the redemption amount will be $592. Debt maturing within one year consisted of the following at December 31: 2020 2019 Current maturities of long-term debt $ 3,470 $ 11,834 Bank borrowings 1 — 4 Total $ 3,470 $ 11,838 1 Outstanding balance of short-term credit facility of a foreign subsidiary. Financing Activities During 2020, we received net proceeds of $31,988 on the issuance of $32,241 in long-term debt in various markets, with an average weighted maturity of approximately 20 years and a weighted average interest rate of 3.2%. We repaid $39,758 in borrowings of various notes with a weighted average coupon of 3.2%. Tender Offers and Debt Exchanges In August 2020, we repurchased $11,384 of AT&T global notes and subsidiary notes due 2021 to 2025 through cash tender offers. In September 2020, we exchanged $17,677 of AT&T and subsidiary notes, with interest rates ranging from 4.350% to 8.750% and original maturities ranging from 2031 to 2058 for $1,459 of cash and $21,500 of three new series of AT&T Inc. global notes, with interest rates ranging from 3.500% to 3.650% and maturities ranging from 2053 to 2059. In December 2020, we also exchanged $8,280 of AT&T and subsidiary notes, with interest rates ranging from 2.950% to 7.125% and original maturities ranging from 2026 to 2048 for $8 of cash and $9,678 of two new series of AT&T global notes, with interest rates of 2.550% and 3.800% and maturities of 2033 and 2057, respectively. As of December 31, 2020 and 2019, we were in compliance with all covenants and conditions of instruments governing our debt. Substantially all of our outstanding long-term debt is unsecured. Maturities of outstanding long-term notes and debentures, as of December 31, 2020, and the corresponding weighted-average interest rate scheduled for repayment are as follows: 2021 2022 2023 2024 2025 Thereafter Debt repayments 1 $ 3,418 $ 5,951 $ 7,779 $ 7,849 $ 6,389 $ 134,268 Weighted-average interest rate 3.8 % 3.3 % 3.4 % 3.3 % 3.9 % 4.2 % 1 Debt repayments represent maturity value and assume putable debt is redeemed at the next opportunity. Foreign debt includes the impact from hedges, when applicable. Credit Facilities General In September 2019, we entered into and drew on a $1,300 term loan credit agreement containing (i) a 1.25 year $400 facility due in 2020, (ii) a 2.25 year $400 facility due in 2021, and (iii) a 3.25 year $500 facility due in 2022, with Bank of America, N.A., as agent. These facilities were repaid and terminated in the second quarter of 2020. In April 2020, we entered into and drew on a $5,500 Term Loan Credit Agreement (Term Loan) with 11 commercial banks and Bank of America, N.A. as lead agent. We repaid and terminated the Term Loan in May 2020. On January 29, 2021, we entered into a $14,700 Term Loan Credit Agreement (Term Loan), with Bank of America, N.A., as agent. The Term Loan is available for a single draw at any time before May 29, 2021. The proceeds will be used for general corporate purposes, which may include among other things, financing acquisitions of additional spectrum. The entire principal amount of the Term Loan will be due and payable 364 days after the date on which the borrowing is made. At January 31, 2021, we had approximately $6,100 of commercial paper outstanding. Revolving Credit Agreements In November 2020, we amended one of our $7,500 revolving credit agreements by extending the termination date. In total, we have two $7,500 revolving credit agreements, totaling $15,000, with one terminating on December 11, 2023 and the other terminating on November 17, 2025. No amounts were outstanding under either agreement as of December 31, 2020. Each of the credit agreements contains covenants that are customary for an issuer with an investment grade senior debt credit rating, as well as a net debt-to-EBITDA (earnings before interest, taxes, depreciation and amortization, and other modifications described in each agreement) financial ratio covenant requiring AT&T to maintain, as of the last day of each fiscal quarter, a ratio of not more than 3.5-to-1. The events of default are customary for agreements of this type and such events would result in the acceleration of, or would permit the lenders to accelerate, as applicable, required payments and would increase each agreement’s relevant Applicable Margin by 2.00% per annum. The obligations of the lenders under two revolving credit agreements to provide advances will terminate on December 11, 2023, and November 17, 2025, unless the commitments are terminated in whole prior to that date. All advances must be repaid no later than the date on which lenders are no longer obligated to make any advances under the applicable credit agreement. Each of the credit agreements provides that we and lenders representing more than 50% of the facility amount may agree to extend their commitments under such Credit Agreement for two one-year periods beyond the initial termination date. We have the right to terminate, in whole or in part, amounts committed by the lenders under each of the credit agreements in excess of any outstanding advances; however, any such terminated commitments may not be reinstated. Advances under these agreements would bear interest, at our option, either: • at a variable annual rate equal to: (1) the highest of (but not less than zero) (a) the rate of interest announced publicly by Citibank in New York, New York, from time to time, as Citibank’s base rate, (b) 0.5% per annum above the federal funds rate, and (c) the London interbank offered rate (or the successor thereto) (“LIBOR”) applicable to dollars for a period of one month plus 1.00%, plus (2) an applicable margin, as set forth in the applicable Credit Agreement (the “Applicable Margin for Base Advances”); or • at a rate equal to: (i) LIBOR (adjusted upwards to reflect any bank reserve costs) for a period of one, two, three or six months, as applicable, plus (ii) an applicable margin, as set forth in the applicable Credit Agreement (the “Applicable Margin for Eurodollar Rate Advances”). We pay a facility fee of 0.070%, 0.080%, 0.100% or 0.125% per annum of the amount of the lender commitments, depending on AT&T’s credit rating. |
Fair Value Measurements And Dis
Fair Value Measurements And Disclosure | 12 Months Ended |
Dec. 31, 2020 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements And Disclosure | NOTE 13. FAIR VALUE MEASUREMENTS AND DISCLOSURE The Fair Value Measurement and Disclosure framework in ASC 820, “Fair Value Measurement,” provides a three-tiered fair value hierarchy based on the reliability of the inputs used to determine fair value. Level 1 refers to fair values determined based on quoted prices in active markets for identical assets. Level 2 refers to fair values estimated using significant other observable inputs and Level 3 includes fair values estimated using significant unobservable inputs. The level of an asset or liability within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. Our valuation techniques maximize the use of observable inputs and minimize the use of unobservable inputs. The valuation methodologies described above may produce a fair value calculation that may not be indicative of future net realizable value or reflective of future fair values. We believe our valuation methods are appropriate and consistent with other market participants. The use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different fair value measurement at the reporting date. There have been no changes in the methodologies used since December 31, 2019. Long-Term Debt and Other Financial Instruments The carrying amounts and estimated fair values of our long-term debt, including current maturities, and other financial instruments, are summarized as follows: December 31, 2020 December 31, 2019 Carrying Fair Carrying Fair Notes and debentures 1 $ 155,209 $ 187,224 $ 161,109 $ 182,124 Bank borrowings — — 4 4 Investment securities 2 3,249 3,249 3,723 3,723 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 December 31, 2020, and December 31, 2019. Derivatives designated as hedging instruments are reflected as “Other assets,” “Other noncurrent liabilities,” “Other current assets” and “Accounts payable and accrued liabilities” on our consolidated balance sheets. December 31, 2020 Level 1 Level 2 Level 3 Total Equity Securities Domestic equities $ 1,010 $ — $ — $ 1,010 International equities 180 — — 180 Fixed income equities 236 — — 236 Available-for-Sale Debt Securities — 1,479 — 1,479 Asset Derivatives Cross-currency swaps — 1,721 — 1,721 Foreign exchange contracts — 6 — 6 Liability Derivatives Cross-currency swaps — (1,814) — (1,814) Foreign exchange contracts — (9) — (9) December 31, 2019 Level 1 Level 2 Level 3 Total Equity Securities Domestic equities $ 844 $ — $ — $ 844 International equities 183 — — 183 Fixed income equities 229 — — 229 Available-for-Sale Debt Securities — 1,444 — 1,444 Asset Derivatives Interest rate swaps — 2 — 2 Cross-currency swaps — 172 — 172 Interest rate locks — 11 — 11 Foreign exchange contracts — 89 — 89 Liability Derivatives Cross-currency swaps — (3,187) — (3,187) Interest rate locks — (95) — (95) Investment Securities Our investment securities include both equity and debt securities that are measured at fair value, as well as equity securities without readily determinable fair values. A substantial portion of the fair values of our investment securities is estimated based on quoted market prices. Investments in equity securities not traded on a national securities exchange are valued at cost, less any impairment, and adjusted for changes resulting from observable, orderly transactions for identical or similar securities. Investments in debt securities not traded on a national securities exchange are valued using pricing models, quoted prices of securities with similar characteristics or discounted cash flows. The components comprising total gains and losses in the period on equity securities are as follows: For the years ended December 31, 2020 2019 2018 Total gains (losses) recognized on equity securities $ 171 $ 301 $ (130) Gains (losses) recognized on equity securities sold (25) 100 (10) Unrealized gains (losses) recognized on equity securities held at end of period $ 196 $ 201 $ (120) At December 31, 2020, available-for-sale debt securities totaling $1,479 have maturities as follows - less than one year: $29; one to three years: $159; three to five years: $179; five or more years: $1,112. 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 “Other current assets” and our investment securities are recorded in “Other Assets” on the consolidated balance sheets. Derivative Financial Instruments We enter into derivative transactions to manage certain market risks, primarily interest rate risk and foreign currency exchange risk. This includes the use of interest rate swaps, interest rate locks, foreign exchange forward contracts and combined interest rate foreign exchange contracts (cross-currency swaps). We do not use derivatives for trading or speculative purposes. We record derivatives on our consolidated balance sheets at fair value that is derived from observable market data, including yield curves and foreign exchange rates (all of our derivatives are Level 2). Cash flows associated with derivative instruments are presented in the same category on the consolidated statements of cash flows as the item being hedged. Fair Value Hedging Periodically, we enter into and designate fixed-to-floating interest rate swaps as fair value hedges. The purpose of these swaps is to manage interest rate risk by managing our mix of fixed-rate and floating-rate debt. These swaps involve the receipt of fixed-rate amounts for floating interest rate payments over the life of the swaps without exchange of the underlying principal amount. We also designate some of our foreign exchange contracts as fair value hedges. The purpose of these contracts is to hedge currency risk associated with foreign-currency-denominated operating assets and liabilities. 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. Unrealized gains on derivatives designated as fair value hedges are recorded at fair market value as assets, and unrealized losses are recorded at fair market value as liabilities. 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 year ended December 31, 2020 and 2019, no ineffectiveness was measured on fair value hedges. Cash Flow Hedging We designate our cross-currency swaps as cash flow hedges. We have entered into multiple cross-currency swaps to hedge our exposure to variability in expected future cash flows that are attributable to foreign currency risk generated from our foreign-denominated debt. These agreements include initial and final exchanges of principal from fixed foreign currency denominated amounts to fixed U.S. dollar denominated amounts, to be exchanged at a specified rate that is usually determined by the market spot rate upon issuance. They also include an interest rate swap of a fixed or floating foreign currency-denominated interest rate to a fixed U.S. dollar denominated interest rate. We also designate some of our foreign exchange contracts as cash flow hedges. The purpose of these contracts is to hedge certain forecasted film production costs and film tax incentives denominated in foreign currencies. Unrealized gains on derivatives designated as cash flow hedges are recorded at fair value as assets, and unrealized losses are recorded at fair value as liabilities. For derivative instruments designated as cash flow hedges, changes in fair value are reported as a component of accumulated OCI and are reclassified into the consolidated statements of income in the same period the hedged transaction affects earnings. Periodically, we enter into and designate interest rate locks to partially hedge the risk of changes in interest payments attributable to increases in the benchmark interest rate during the period leading up to the probable issuance of fixed-rate debt. We designate our interest rate locks as cash flow hedges. Gains and losses when we settle our interest rate locks are amortized into income over the life of the related debt. Over the next 12 months, we expect to reclassify $92 from accumulated OCI to “Interest expense” due to the amortization of net losses on historical interest rate locks. We settled all interest rate locks in May 2020 in conjunction with the issuance of fixed rate debt obligations that the interest rate locks were hedging and paid $731 that was largely offset by the return of collateral at the time of settlement. Cash flows from the interest rate lock settlements and return of collateral were reported as financing activities in our statement of cash flows, consistent with our accounting policy for these instruments. Net Investment Hedging We have designated €1,450 million aggregate principal amount of debt as a hedge of the variability of some of the Euro-denominated net investments of our subsidiaries. The gain or loss on the debt that is designated as, and is effective as, an economic hedge of the net investment in a foreign operation is recorded as a currency translation adjustment within accumulated OCI, net on the consolidated balance sheets. Net losses on net investment hedges recognized in accumulated OCI for 2020 were $147. Collateral and Credit-Risk Contingency We have entered into agreements with our derivative counterparties establishing collateral thresholds based on respective credit ratings and netting agreements. At December 31, 2020, we had posted collateral of $53 (a deposit asset) and held collateral of $694 (a receipt liability). Under the agreements, if AT&T’s credit rating had been downgraded one rating level by Fitch Ratings, before the final collateral exchange in December, we would have been required to post additional collateral of $33. If AT&T’s credit rating had been downgraded four 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 $676. If DIRECTV Holdings LLC’s credit rating had been downgraded below BBB- by S&P, we would have been required to post additional collateral of $134. At December 31, 2019, we had posted collateral of $204 (a deposit asset) and held collateral of $44 (a receipt liability). We do not offset the fair value of collateral, whether the right to reclaim cash collateral (a receivable) or the obligation to return cash collateral (a payable) exists, against the fair value of the derivative instruments. Following are the notional amounts of our outstanding derivative positions at December 31: 2020 2019 Interest rate swaps $ — $ 853 Cross-currency swaps 40,745 42,325 Interest rate locks — 3,500 Foreign exchange contracts 90 269 Total $ 40,835 $ 46,947 Following are the related hedged items affecting our financial position and performance: Effect of Derivatives on the Consolidated Statements of Income Fair Value Hedging Relationships For the years ended December 31, 2020 2019 2018 Interest rate swaps (Interest expense): Gain (Loss) on interest rate swaps $ (6) $ 58 $ (12) Gain (Loss) on long-term debt 6 (58) 12 In addition, the net swap settlements that accrued and settled in the periods above were offset against “Interest expense.” Cash Flow Hedging Relationships For the years ended December 31, 2020 2019 2018 Cross-currency swaps: Gain (Loss) recognized in accumulated OCI $ (378) $ (1,066) $ (825) Foreign exchange contracts: Gain (Loss) recognized in accumulated OCI 3 10 51 Other income (expense) - net reclassified from accumulated OCI into income (3) 6 39 Interest rate locks: Gain (Loss) recognized in accumulated OCI (648) (84) — Interest income (expense) reclassified from accumulated OCI into income (84) (63) (58) Nonrecurring Fair Value Measurements In addition to assets and liabilities that are recorded at fair value on a recurring basis, impairment indicators may subject goodwill, long-lived assets and film costs to nonrecurring fair value measurements. The implied fair values of the video and Vrio businesses were estimated using both the discounted cash flow as well as market multiple approaches. The fair values of long-lived assets in the video business were determined using a present value approach of probability-weighted expected cash flows. The fair values of film productions were estimated using a discounted cash flow approach. The inputs to all of these approaches are considered Level 3. |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2020 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | NOTE 14. INCOME TAXES Significant components of our deferred tax liabilities (assets) are as follows at December 31: 2020 2019 Depreciation and amortization $ 46,952 $ 44,896 Licenses and nonamortizable intangibles 13,930 17,355 Employee benefits (5,279) (5,143) Deferred fulfillment costs 2,691 3,050 Net operating loss and other carryforwards (7,355) (7,301) Other – net 4,562 1,536 Subtotal 55,501 54,393 Deferred tax assets valuation allowance 4,773 4,941 Net deferred tax liabilities $ 60,274 $ 59,334 Noncurrent deferred tax liabilities $ 60,472 $ 59,502 Less: Noncurrent deferred tax assets (198) (168) Net deferred tax liabilities $ 60,274 $ 59,334 At December 31, 2020, we had combined net operating and capital loss carryforwards (tax effected) for federal income tax purposes of $585, state of $916 and foreign of $2,763, expiring through 2040. Additionally, we had federal credit carryforwards of $1,080 and state credit carryforwards of $2,011, expiring primarily through 2040. We recognize a valuation allowance if, based on the weight of available evidence, it is more likely than not that some portion, or all, of a deferred tax asset will not be realized. Our valuation allowances at December 31, 2020 and 2019 related primarily to state and foreign net operating losses and state credit carryforwards. The Company considers post-1986 unremitted foreign earnings subjected to the one-time transition tax not to be indefinitely reinvested as such earnings can be repatriated without any significant incremental tax costs. The Company considers other types of unremitted foreign earnings to be indefinitely reinvested. U.S. income and foreign withholding taxes have not been recorded on temporary differences related to investments in certain foreign subsidiaries as such differences are considered indefinitely reinvested. Determination of the amount of unrecognized deferred tax liability is not practicable. We recognize the financial statement effects of a tax return position when it is more likely than not, based on the technical merits, that the position will ultimately be sustained. For tax positions that meet this recognition threshold, we apply our judgment, taking into account applicable tax laws, our experience in managing tax audits and relevant GAAP, to determine the amount of tax benefits to recognize in our financial statements. For each position, the difference between the benefit realized on our tax return and the benefit reflected in our financial statements is recorded on our consolidated balance sheets as an unrecognized tax benefit (UTB). We update our UTBs at each financial statement date to reflect the impacts of audit settlements and other resolutions of audit issues, the expiration of statutes of limitation, developments in tax law and ongoing discussions with taxing authorities. A reconciliation of the change in our UTB balance from January 1 to December 31 for 2020 and 2019 is as follows: Federal, State and Foreign Tax 2020 2019 Balance at beginning of year $ 10,979 $ 10,358 Increases for tax positions related to the current year 1,580 903 Increases for tax positions related to prior years 112 1,106 Decreases for tax positions related to prior years (994) (1,283) Lapse of statute of limitations (24) (32) Settlements (1,646) (283) Current year acquisitions — 205 Foreign currency effects (6) 5 Balance at end of year 10,001 10,979 Accrued interest and penalties 2,450 2,708 Gross unrecognized income tax benefits 12,451 13,687 Less: Deferred federal and state income tax benefits (878) (886) Less: Tax attributable to timing items included above (3,588) (4,320) Total UTB that, if recognized, would impact the effective income tax rate as of the end of the year $ 7,985 $ 8,481 Periodically we make deposits to taxing jurisdictions which reduce our UTB balance but are not included in the reconciliation above. The amount of deposits that reduced our UTB balance was $702 at December 31, 2020 and $2,584 at December 31, 2019. Accrued interest and penalties included in UTBs were $2,450 as of December 31, 2020, and $2,708 as of December 31, 2019. We record interest and penalties related to federal, state and foreign UTBs in income tax expense. The net interest and penalty expense included in income tax expense was $149 for 2020, $267 for 2019 and $1,290 for 2018. We file income tax returns in the U.S. federal jurisdiction and various state, local and foreign jurisdictions. As a large taxpayer, our income tax returns are regularly audited by the Internal Revenue Service (IRS) and other taxing authorities. The IRS has completed field examinations of our tax returns through 2012. All audit periods prior to 2005 are closed for federal examination purposes and we have effectively resolved all outstanding audit issues for years through 2010 with the IRS Appeals Division. Those years will be closed as the final paperwork is processed in the coming months. While we do not expect material changes, we are generally unable to estimate the range of impacts on the balance of the remaining uncertain tax positions or the impact on the effective tax rate from the resolution of these issues until each year is closed; and it is possible that the amount of unrecognized benefit with respect to our uncertain tax positions could increase or decrease within the next 12 months. The components of income tax (benefit) expense are as follows: 2020 2019 2018 Federal: Current $ (687) $ 584 $ 3,258 Deferred 1,039 1,656 277 352 2,240 3,535 State and local: Current (6) 603 513 Deferred 263 144 473 257 747 986 Foreign: Current 413 605 539 Deferred (57) (99) (140) 356 506 399 Total $ 965 $ 3,493 $ 4,920 “Income Before Income Taxes” in the Consolidated Statements of Income included the following components for the years ended December 31: 2020 2019 2018 U.S. income (loss) before income taxes $ (452) $ 18,301 $ 25,379 Foreign income (loss) before income taxes (2,404) 167 (506) Total $ (2,856) $ 18,468 $ 24,873 A reconciliation of income tax expense (benefit) and the amount computed by applying the statutory federal income tax rate of 21% to income from continuing operations before income taxes is as follows: 2020 2019 2018 Taxes computed at federal statutory rate $ (600) $ 3,878 $ 5,223 Increases (decreases) in income taxes resulting from: State and local income taxes - net of federal income tax benefit 193 611 738 Enactment date and measurement period adjustments from the Act — — (718) Tax on foreign investments (141) (115) (466) Noncontrolling interest (285) (230) (121) Permanent items and R&D credit (239) (285) (189) Audit resolutions (112) (156) 544 Divestitures 107 — — Goodwill impairment 1 2,120 — — Other - net (78) (210) (91) Total $ 965 $ 3,493 $ 4,920 Effective Tax Rate (33.8) % 18.9 % 19.8 % 1 Goodwill impairments are not deductible for tax purposes. |
Pension And Postretirement Bene
Pension And Postretirement Benefits | 12 Months Ended |
Dec. 31, 2020 | |
Retirement Benefits [Abstract] | |
Pension And Postretirement Benefits | NOTE 15. PENSION AND POSTRETIREMENT BENEFITS We offer noncontributory pension programs covering the majority of domestic nonmanagement employees in our Communications business. Nonmanagement employees’ pension benefits are generally calculated using one of two formulas: a flat dollar amount applied to years of service according to job classification or a cash balance plan with negotiated annual pension band credits as well as interest credits. Most employees can elect to receive their pension benefits in either a lump sum payment or an annuity. Pension programs covering U.S. management employees are closed to new entrants. These programs continue to provide benefits to participants that were generally hired before January 1, 2015, who receive benefits under either cash balance pension programs that include annual or monthly credits based on salary as well as interest credits, or a traditional pension formula (i.e., a stated percentage of employees’ adjusted career income). We also provide a variety of medical, dental and life insurance benefits to certain retired employees under various plans and accrue actuarially determined postretirement benefit costs as active employees earn these benefits. WarnerMedia and certain of its subsidiaries have both funded and unfunded defined benefit pension plans, the substantial majority of which are noncontributory plans covering domestic employees. WarnerMedia also sponsors unfunded domestic postretirement benefit plans covering certain retirees and their dependents. At acquisition, the plans were already closed to new entrants and frozen for new accruals. During the fourth quarter of 2020, we committed to, and reflected in our results, plan changes impacting retiree life and death coverage and health and medical subsidy benefits. Changes were also communicated that impact future pension accruals for certain management employees. These plan changes align our benefit plans to, or above market level. In 2019, for certain management participants in our pension plan who terminated employment before April 1, 2019, we offered the option of more favorable 2018 interest rates and mortality basis for determining lump-sum distributions. We recorded special termination benefits of $81 associated with this offer in “Other income (expense) – net.” We also offered certain terminated vested pension plan participants the opportunity to receive their benefit as a lump sum. During the fourth quarter of 2019, we committed to plan changes impacting the cost of postretirement health and welfare benefits, which were reflected in our results. Future retirees will not receive health retirement subsidies toward post-Medicare coverage but have access to a new cost-efficient comprehensive plan. Obligations and Funded Status For defined benefit pension plans, the benefit obligation is the projected benefit obligation, the actuarial present value, as of our December 31 measurement date, of all benefits attributed by the pension benefit formula to employee service rendered to that date. The amount of benefit to be paid depends on a number of future events incorporated into the pension benefit formula, including estimates of the average life of employees and their beneficiaries and average years of service rendered. It is measured based on assumptions concerning future interest rates and future employee compensation levels as applicable. For postretirement benefit plans, the benefit obligation is the accumulated postretirement benefit obligation, the actuarial present value as of the measurement date of all future benefits attributed under the terms of the postretirement benefit plans to employee service. The following table presents the change in the projected benefit obligation for the years ended December 31: Pension Benefits Postretirement Benefits 2020 2019 2020 2019 Benefit obligation at beginning of year $ 59,873 $ 55,439 $ 16,041 $ 19,378 Service cost - benefits earned during the period 1,029 1,019 53 71 Interest cost on projected benefit obligation 1,687 1,960 416 675 Amendments (340) — (2,655) (4,590) Actuarial (gain) loss 5,054 7,734 1,423 2,050 Special termination benefits — 81 — — Benefits paid (5,124) (6,356) (1,370) (1,543) Curtailment (1) — — — Plan transfers (20) (4) 20 — Benefit obligation at end of year $ 62,158 $ 59,873 $ 13,928 $ 16,041 The following table presents the change in the fair value of plan assets for the years ended December 31 and the plans’ funded status at December 31: Pension Benefits Postretirement Benefits 2020 2019 2020 2019 Fair value of plan assets at beginning of year $ 53,530 $ 51,681 $ 4,145 $ 4,277 Actual return on plan assets 6,199 8,207 302 609 Benefits paid 1 (5,124) (6,356) (1,029) (941) Contributions 2 2 425 200 Plan transfers (1) (4) — — Fair value of plan assets at end of year 54,606 53,530 3,843 4,145 Unfunded status at end of year 2 $ (7,552) $ (6,343) $ (10,085) $ (11,896) 1 At our discretion, certain postretirement benefits may be paid from our cash accounts, which does not reduce Voluntary Employee Benefit Association (VEBA) assets. Future benefit payments may be made from VEBA trusts and thus reduce those asset balances. 2 Funded status is not indicative of our ability to pay ongoing pension benefits or of our obligation to fund retirement trusts. Required pension funding is determined in accordance with the Employee Retirement Income Security Act of 1974, as amended (ERISA) and applicable regulations. Amounts recognized on our consolidated balance sheets at December 31 are listed below: Pension Benefits Postretirement Benefits 2020 2019 2020 2019 Current portion of employee benefit obligation 1 $ — $ — $ (1,213) $ (1,365) Employee benefit obligation 2 (7,552) (6,343) (8,872) (10,531) Net amount recognized $ (7,552) $ (6,343) $ (10,085) $ (11,896) 1 Included in “Accounts payable and accrued liabilities.” 2 Included in “Postemployment benefit obligation,” combined with international pension obligations and other postemployment obligations of $553 and $1,299 at December 31, 2020, respectively. The accumulated benefit obligation for our pension plans represents the actuarial present value of benefits based on employee service and compensation as of a certain date and does not include an assumption about future compensation levels. The accumulated benefit obligation for our pension plans was $60,848 at December 31, 2020, and $58,150 at December 31, 2019. Net Periodic Benefit Cost and Other Amounts Recognized in Other Comprehensive Income Periodic Benefit Costs The service cost component of net periodic pension cost (benefit) is recorded in operating expenses in the consolidated statements of income while the remaining components are recorded in “Other income (expense) – net.” Our combined net pension and postretirement cost (credit) recognized in our consolidated statements of income was $711, $2,762 and $(4,251) for the years ended December 31, 2020, 2019 and 2018. The following table presents the components of net periodic benefit cost (credit): Pension Benefits 1 Postretirement Benefits 2020 2019 2018 2020 2019 2018 Service cost – benefits earned during the period $ 1,029 $ 1,019 $ 1,116 $ 53 $ 71 $ 109 Interest cost on projected benefit obligation 1,687 1,960 2,092 416 675 778 Expected return on assets (3,557) (3,561) (3,190) (178) (227) (304) Amortization of prior service credit (113) (113) (115) (2,329) (1,820) (1,635) Actuarial (gain) loss 2,404 3,088 (812) 1,299 1,670 (2,290) Net pension and postretirement cost (credit) $ 1,450 $ 2,393 $ (909) $ (739) $ 369 $ (3,342) 1 Net periodic pension cost (credit) excludes immediate cost recognized due to special events: curtailment gain of ($1) in 2020 and special termination benefits of $81 in 2019. Other Changes in Benefit Obligations Recognized in Other Comprehensive Income The following table presents the after-tax changes in benefit obligations recognized in OCI and the after-tax prior service credits that were amortized from OCI into net periodic benefit costs: Pension Benefits Postretirement Benefits 2020 2019 2018 2020 2019 2018 Balance at beginning of year $ 361 $ 447 $ 571 $ 8,171 $ 6,086 $ 6,456 Prior service (cost) credit 250 — (37) 2,001 3,457 864 Amortization of prior service credit (86) (86) (87) (1,756) (1,372) (1,234) Total recognized in other comprehensive (income) loss 164 (86) (124) 245 2,085 (370) Balance at end of year $ 525 $ 361 $ 447 $ 8,416 $ 8,171 $ 6,086 Assumptions In determining the projected benefit obligation and the net pension and postretirement benefit cost, we used the following significant weighted-average assumptions: Pension Benefits Postretirement Benefits 2020 2019 2018 2020 2019 2018 Weighted-average discount rate for determining benefit obligation at December 31 2.70 % 3.40 % 4.50 % 2.40 % 3.20 % 4.40 % Discount rate in effect for determining service cost 1, 2 3.60 % 4.10 % 4.20 % 3.50 % 4.40 % 4.30 % Discount rate in effect for determining interest cost 1,2 2.90 % 3.50 % 3.80 % 2.70 % 3.70 % 3.60 % Weighted-average interest credit rate for cash balance pension programs 3 3.10 % 3.30 % 3.70 % — % — % — % Long-term rate of return on plan assets 7.00 % 7.00 % 7.00 % 4.75 % 5.75 % 5.75 % Composite rate of compensation increase for determining benefit obligation 3.00 % 3.00 % 3.00 % 3.00 % 3.00 % 3.00 % Composite rate of compensation increase for determining net cost (benefit) 3.00 % 3.00 % 3.00 % 3.00 % 3.00 % 3.00 % 1 Weighted-average discount rate for pension benefits in effect from January 1, 2019 through March 31, 2019 was 4.60% for service cost and 4.20% for interest cost, from April 1, 2019 through June 30, 2019 was 4.30% for service cost and 3.70% for interest cost, from July 1, 2019 through September 30, 2019 was 3.90% for service cost and 3.20% for interest cost, and, from October 1, 2019 through December 31, 2019 was 3.50% for service cost and 3.00% for interest cost. 2 Weighted-average discount rate for postretirement benefits in effect from January 1, 2019 through October 1, 2019 was 4.70% for service cost and 4.00% for interest cost, and, from October 2, 2019 through December 31, 2019 was 3.40% for service cost and 2.70% for interest cost. 3 Weighted-average interest crediting rates for cash balance pension programs relate only to the cash balance portion of total pension benefits. A 0.50% increase in the weighted-average interest crediting rate would increase the pension benefit obligation by $130. We recognize gains and losses on pension and postretirement plan assets and obligations immediately in “Other income (expense) – net” in our consolidated statements of income. These gains and losses are generally measured annually as of December 31 and accordingly, will normally be recorded during the fourth quarter, unless an earlier remeasurement is required. Should actual experience differ from actuarial assumptions, the projected pension benefit obligation and net pension cost and accumulated postretirement benefit obligation and postretirement benefit cost would be affected in future years. Discount Rate Our assumed weighted-average discount rate for pension and postretirement benefits of 2.70% and 2.40% respectively, at December 31, 2020, reflects the hypothetical rate at which the projected benefit obligation could be effectively settled or paid out to participants. We determined our discount rate based on a range of factors, including a yield curve composed of the rates of return on several hundred high-quality, fixed income corporate bonds available at the measurement date and corresponding to the related expected durations of future cash outflows. These bonds were all rated at least Aa3 or AA- by one of the nationally recognized statistical rating organizations, denominated in U.S. dollars, and neither callable, convertible nor index linked. For the year ended December 31, 2020, when compared to the year ended December 31, 2019, we decreased our pension discount rate by 0.70%, resulting in an increase in our pension plan benefit obligation of $5,594 and decreased our postretirement discount rate by 0.80%, resulting in an increase in our postretirement benefit obligation of $1,311. For the year ended December 31, 2019, we decreased our pension discount rate by 1.10%, resulting in an increase in our pension plan benefit obligation of $8,018 and decreased our postretirement discount rates by 1.20%, resulting in an increase in our postretirement benefit obligation of $2,399. We utilize a full yield curve approach in the estimation of the service and interest components of net periodic benefit costs for pension and other postretirement benefits. Under this approach, we apply discounting using individual spot rates from a yield curve composed of the rates of return on several hundred high-quality, fixed income corporate bonds available at the measurement date. These spot rates align to each of the projected benefit obligations and service cost cash flows. The service cost component relates to the active participants in the plan, so the relevant cash flows on which to apply the yield curve are considerably longer in duration on average than the total projected benefit obligation cash flows, which also include benefit payments to retirees. Interest cost is computed by multiplying each spot rate by the corresponding discounted projected benefit obligation cash flows. The full yield curve approach reduces any actuarial gains and losses based upon interest rate expectations (e.g., built-in gains in interest cost in an upward sloping yield curve scenario), or gains and losses merely resulting from the timing and magnitude of cash outflows associated with our benefit obligations. Neither the annual measurement of our total benefit obligations nor annual net benefit cost is affected by the full yield curve approach. Expected Long-Term Rate of Return In 2021, our expected long-term rate of return is 6.75% on pension plan assets and 4.50% on postretirement plan assets. Our expected long-term rates of return on plan assets were adjusted downward by 0.25% for 2021, with pension reducing from 7.00% to 6.75% and postretirement from 4.75% to 4.50%. This update to our asset return assumptions was due to economic forecasts, a change in the asset mix, and holding more fixed income securities in the pension plan and more cash and short-term securities in our VEBA trusts. Our long-term rates of return reflect the average rate of earnings expected on the funds invested, or to be invested, to provide for the benefits included in the projected benefit obligations. In setting the long-term assumed rate of return, management considers capital markets’ future expectations, the asset mix of the plans’ investment and average historical asset return. Actual long-term returns can, in relatively stable markets, also serve as a factor in determining future expectations. We consider many factors that include, but are not limited to, historical returns on plan assets, current market information on long-term returns (e.g., long-term bond rates) and current and target asset allocations between asset categories. The target asset allocation is determined based on consultations with external investment advisers. If all other factors were to remain unchanged, we expect that a 0.50% decrease in the expected long-term rate of return would cause 2021 combined pension and postretirement cost to increase $277. However, any differences in the rate and actual returns will be included with the actuarial gain or loss recorded in the fourth quarter when our plans are remeasured. Composite Rate of Compensation Increase Our expected composite rate of compensation increase cost of 3.00% in 2020 and 2019 reflects the long-term average rate of salary increases. Healthcare Cost Trend Our healthcare cost trend assumptions are developed based on historical cost data, the near-term outlook and an assessment of likely long-term trends. Based on our assessment of historical experience, expectations of healthcare industry inflation and recent prescription drug cost experience, our 2021 assumed annual healthcare prescription drug cost trend and medical cost trend for eligible participants will remain at 4.00% annual and ultimate rate. For 2020, our assumed annual healthcare prescription drug cost trend and medical cost trend for eligible participants was decreased from an annual and ultimate trend rate of 4.50% to an annual and ultimate trend rate of 4.00%. This change in assumption decreased our obligation by $102 at December 31, 2019. In addition to the healthcare cost trend, we assumed an annual 2.50% growth in administrative expenses and an annual 3.00% growth in dental claims. Plan Assets Plan assets consist primarily of private and public equity, government and corporate bonds, and real assets (real estate and natural resources). The asset allocations of the pension plans are maintained to meet ERISA requirements. Any plan contributions, as determined by ERISA regulations, are made to a pension trust for the benefit of plan participants. We do not have significant ERISA required contributions to our pension plans for 2021. We maintain VEBA trusts to partially fund postretirement benefits; however, there are no ERISA or regulatory requirements that these postretirement benefit plans be funded annually. We made discretionary contributions of $425 in December 2020 and $200 in December 2019 to our postretirement plan. The principal investment objectives are to ensure the availability of funds to pay pension and postretirement benefits as they become due under a broad range of future economic scenarios, maximize long-term investment return with an acceptable level of risk based on our pension and postretirement obligations, and diversify broadly across and within the capital markets to insulate asset values against adverse experience in any one market. Each asset class has broadly diversified characteristics. Substantial biases toward any particular investing style or type of security are sought to be avoided by managing the aggregation of all accounts with portfolio benchmarks. Asset and benefit obligation forecasting studies are conducted periodically, generally every two to three years, or when significant changes have occurred in market conditions, benefits, participant demographics or funded status. Decisions regarding investment policy are made with an understanding of the effect of asset allocation on funded status, future contributions and projected expenses. The plans’ weighted-average asset targets and actual allocations as a percentage of plan assets, including the notional exposure of future contracts by asset categories at December 31 are as follows: Pension Assets Postretirement (VEBA) Assets Target 2020 2019 Target 2020 2019 Equity securities: Domestic 16 % - 26 % 19 % 17 % 14 % - 24 % 19 % 20 % International 10 % - 20 % 15 12 9 % - 19 % 14 12 Fixed income securities 37 % - 47 % 35 35 40 % - 50 % 45 52 Real assets 8 % - 18 % 8 9 — % - 6 % 1 1 Private equity 5 % - 15 % 9 8 — % - 6 % 1 2 Preferred interest 6 % - 16 % 10 17 — % - — % — — Other — % - 5 % 4 2 15 % - 25 % 20 13 Total 100 % 100 % 100 % 100 % The pension trust holds a preferred equity interest valued at $5,771 in AT&T Mobility II LLC (Mobility II), the primary holding company for our wireless business (see Note 17). During 2020, the trust sold a portion of this preferred interest valued at $2,885 to third party investors. The preferred equity interest was valued at $8,806 as of December 31, 2019. At December 31, 2020, AT&T securities represented 11% of assets held by our pension trust, including the preferred interest in Mobility II, and 1% of assets (primarily common stock) held by our VEBA trusts included in these financial statements. Investment Valuation Investments are stated at fair value. Fair value is the price that would be received to sell an asset or paid to transfer a liability at the measurement date. Investments in securities traded on a national securities exchange are valued at the last reported sales price on the final business day of the year. If no sale was reported on that date, they are valued at the last reported bid price. Investments in securities not traded on a national securities exchange are valued using pricing models, quoted prices of securities with similar characteristics or discounted cash flows. Shares of registered investment companies are valued based on quoted market prices, which represent the net asset value of shares held at year-end. Other commingled investment entities are valued at quoted redemption values that represent the net asset values of units held at year-end which management has determined approximates fair value. Real estate and natural resource direct investments are valued at amounts based upon appraisal reports. Fixed income securities valuation is based upon observable prices for comparable assets, broker/dealer quotes (spreads or prices), or a pricing matrix that derives spreads for each bond based on external market data, including the current credit rating for the bonds, credit spreads to Treasuries for each credit rating, sector add-ons or credits, issue-specific add-ons or credits as well as call or other options. The preferred interest in Mobility II is valued using an income approach by an independent fiduciary. Purchases and sales of securities are recorded as of the trade date. Realized gains and losses on sales of securities are determined on the basis of average cost. Interest income is recognized on the accrual basis. Dividend income is recognized on the ex-dividend date. Non-interest bearing cash and overdrafts are valued at cost, which approximates fair value. Fair Value Measurements See Note 13 for a discussion of the fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The following tables set forth by level, within the fair value hierarchy, the pension and postretirement assets and liabilities at fair value as of December 31, 2020: Pension Assets and Liabilities at Fair Value as of December 31, 2020 Level 1 Level 2 Level 3 Total Non-interest bearing cash $ 173 $ — $ — $ 173 Interest bearing cash 7 — — 7 Foreign currency contracts — 3 — 3 Equity securities: Domestic equities 9,784 — 11 9,795 International equities 4,821 11 12 4,844 Preferred interest — — 5,771 5,771 Fixed income securities: Corporate bonds and other investments — 11,043 52 11,095 Government and municipal bonds — 6,039 — 6,039 Mortgage-backed securities — 442 1 443 Real estate and real assets — — 2,544 2,544 Securities lending collateral 621 1,435 — 2,056 Receivable for variation margin 23 — — 23 Assets at fair value 15,429 18,973 8,391 42,793 Investments sold short and other liabilities at fair value (450) (8) (1) (459) Total plan net assets at fair value $ 14,979 $ 18,965 $ 8,390 $ 42,334 Assets held at net asset value practical expedient Private equity funds 5,154 Real estate funds 1,694 Commingled funds 7,706 Total assets held at net asset value practical expedient 14,554 Other assets (liabilities) 1 (2,282) Total Plan Net Assets $ 54,606 1 Other assets (liabilities) include amounts receivable, accounts payable and net adjustment for securities lending payable. Postretirement Assets and Liabilities at Fair Value as of December 31, 2020 Level 1 Level 2 Level 3 Total Interest bearing cash $ 497 $ 302 $ — $ 799 Equity securities: Domestic equities 363 — — 363 International equities 282 — — 282 Fixed income securities: Corporate bonds and other investments 5 307 3 315 Government and municipal bonds 6 132 1 139 Mortgage-backed securities — 94 — 94 Securities lending collateral — 28 — 28 Assets at fair value 1,153 863 4 2,020 Securities lending payable and other liabilities (1) (29) — (30) Total plan net assets at fair value $ 1,152 $ 834 $ 4 $ 1,990 Assets held at net asset value practical expedient Commingled funds 1,843 Private equity 24 Real estate funds 22 Total assets held at net asset value practical expedient 1,889 Other assets (liabilities) 1 (36) Total Plan Net Assets $ 3,843 1 Other assets (liabilities) include amounts receivable and accounts payable. The tables below set forth a summary of changes in the fair value of the Level 3 pension and postretirement assets for the year ended December 31, 2020: Pension Assets Equities Fixed Income Funds Real Estate and Real Assets Total Balance at beginning of year $ 8,816 $ 6 $ 2,817 $ 11,639 Realized gains (losses) (150) — 255 105 Unrealized gains (losses) 3 — (178) (175) Transfers in 4 51 36 91 Transfers out — (3) — (3) Purchases 9,114 1 223 9,338 Sales (11,994) (2) (609) (12,605) Balance at end of year $ 5,793 $ 53 $ 2,544 $ 8,390 Postretirement Assets Equities Fixed Income Funds Real Estate and Real Assets Total Balance at beginning of year $ — $ 32 $ — $ 32 Transfers in — 3 — 3 Transfers out — (11) — (11) Sales — (20) — (20) Balance at end of year $ — $ 4 $ — $ 4 The following tables set forth by level, within the fair value hierarchy, the pension and postretirement assets and liabilities at fair value as of December 31, 2019: Pension Assets and Liabilities at Fair Value as of December 31, 2019 Level 1 Level 2 Level 3 Total Non-interest bearing cash $ 85 $ — $ — $ 85 Interest bearing cash 529 — — 529 Foreign currency contracts — 5 — 5 Equity securities: Domestic equities 8,068 — 4 8,072 International equities 3,929 11 6 3,946 Preferred interest — — 8,806 8,806 Fixed income securities: Corporate bonds and other investments — 10,469 4 10,473 Government and municipal bonds 49 6,123 — 6,172 Mortgage-backed securities — 522 2 524 Real estate and real assets — — 2,817 2,817 Securities lending collateral 103 1,658 — 1,761 Receivable for variation margin 5 — — 5 Assets at fair value 12,768 18,788 11,639 43,195 Investments sold short and other liabilities at fair value (513) (2) — (515) Total plan net assets at fair value $ 12,255 $ 18,786 $ 11,639 $ 42,680 Assets held at net asset value practical expedient Private equity funds 4,544 Real estate funds 2,062 Commingled funds 5,710 Total assets held at net asset value practical expedient 12,316 Other assets (liabilities) 1 (1,466) Total Plan Net Assets $ 53,530 1 Other assets (liabilities) include amounts receivable, accounts payable and net adjustment for securities lending payable. Postretirement Assets and Liabilities at Fair Value as of December 31, 2019 Level 1 Level 2 Level 3 Total Interest bearing cash $ 248 $ 301 $ — $ 549 Equity securities: Domestic equities 438 — — 438 International equities 265 — — 265 Fixed income securities: Corporate bonds and other investments 7 492 31 530 Government and municipal bonds 6 182 1 189 Mortgage-backed securities — 294 — 294 Securities lending collateral — 36 — 36 Assets at fair value 964 1,305 32 2,301 Securities lending payable and other liabilities — (36) — (36) Total plan net assets at fair value $ 964 $ 1,269 $ 32 $ 2,265 Assets held at net asset value practical expedient Private equity funds 66 Real estate funds 27 Commingled funds 1,797 Total assets held at net asset value practical expedient 1,890 Other assets (liabilities) 1 (10) Total Plan Net Assets $ 4,145 1 Other assets (liabilities) include amounts receivable and accounts payable. The tables below set forth a summary of changes in the fair value of the Level 3 pension and postretirement assets for the year ended December 31, 2019: Pension Assets Equities Fixed Income Funds Real Estate and Real Assets Total Balance at beginning of year $ 8,750 $ 4 $ 2,579 $ 11,333 Realized gains (losses) — — 64 64 Unrealized gains (losses) 58 — 45 103 Transfers in 8 5 134 147 Transfers out — (6) — (6) Purchases — 7 228 235 Sales — (4) (233) (237) Balance at end of year $ 8,816 $ 6 $ 2,817 $ 11,639 Postretirement Assets Equities Fixed Income Funds Real Estate and Real Assets Total Balance at beginning of year $ 1 $ 12 $ — $ 13 Transfers in — 28 — 28 Transfers out — (1) — (1) Sales (1) (7) — (8) Balance at end of year $ — $ 32 $ — $ 32 Estimated Future Benefit Payments Expected benefit payments are estimated using the same assumptions used in determining our benefit obligation at December 31, 2020. Because benefit payments will depend on future employment and compensation levels; average years employed; average life spans; and payment elections, among other factors, changes in any of these assumptions could significantly affect these expected amounts. The following table provides expected benefit payments under our pension and postretirement plans: Pension Benefits Postretirement Benefits 2021 $ 5,391 $ 1,392 2022 4,597 1,231 2023 4,428 1,159 2024 4,323 879 2025 4,234 832 Years 2026 - 2030 19,646 3,651 Supplemental Retirement Plans We also provide certain senior- and middle-management employees with nonqualified, unfunded supplemental retirement and savings plans. While these plans are unfunded, we have assets in a designated non-bankruptcy remote trust that are independently managed and used to provide for certain of these benefits. These plans include supplemental pension benefits as well as compensation-deferral plans, some of which include a corresponding match by us based on a percentage of the compensation deferral. For our supplemental retirement plans, the projected benefit obligation was $2,687 and the net supplemental retirement pension cost was $330 at and for the year ended December 31, 2020. The projected benefit obligation was $2,605 and the net supplemental retirement pension credit was $438 at and for the year ended December 31, 2019. We use the same significant assumptions for the composite rate of compensation increase in determining our projected benefit obligation and the net pension and postemployment benefit cost. Our discount rates of 2.30% at December 31, 2020 and 3.20% at December 31, 2019 were calculated using the same methodologies used in calculating the discount rate for our qualified pension and postretirement benefit plans. Deferred compensation expense was $183 in 2020, $199 in 2019 and $128 in 2018. Contributory Savings Plans We maintain contributory savings plans that cover substantially all employees. Under the savings plans, we match in cash or company stock a stated percentage of eligible employee contributions, subject to a specified ceiling. There are no debt-financed shares held by the Employee Stock Ownership Plans, allocated or unallocated. Our match of employee contributions to the savings plans is fulfilled with purchases of our stock on the open market or company cash. Benefit cost, which is based on the cost of shares or units allocated to participating employees’ accounts or the cash contributed to participant accounts, was $814, $793 and $724 for the years ended December 31, 2020, 2019 and 2018. |
Share-Based Payments
Share-Based Payments | 12 Months Ended |
Dec. 31, 2020 | |
Share-based Payment Arrangement [Abstract] | |
Share-Based Payments | NOTE 16. SHARE-BASED PAYMENTS Under our various plans, senior and other management employees and nonemployee directors have received nonvested stock and stock units. In conjunction with the acquisition of Time Warner, restricted stock units issued under Time Warner plans were converted to AT&T share units that will be distributed in the form of AT&T common stock and cash. The shares will vest over a period of one We grant performance stock units, which are nonvested stock units, based upon our stock price at the date of grant and award them in the form of AT&T common stock and cash at the end of a three-year period, subject to the achievement of certain performance goals. We treat the cash settled portion of these awards as a liability. We grant forfeitable restricted stock and stock units, which are valued at the market price of our common stock at the date of grant and predominantly vest over a four We account for our share-based payment arrangements based on the fair value of the awards on their respective grant date, which may affect our ability to fully realize the value shown on our consolidated balance sheets of deferred tax assets associated with compensation expense. We record a valuation allowance when our future taxable income is not expected to be sufficient to recover the asset. Accordingly, there can be no assurance that the current stock price of our common shares will rise to levels sufficient to realize the entire tax benefit currently reflected on our consolidated balance sheets. However, to the extent we generate excess tax benefits (i.e., those additional tax benefits in excess of the deferred taxes associated with compensation expense previously recognized) the potential future impact on income would be reduced. Our consolidated statements of income include the compensation cost recognized for those plans as operating expenses, as well as the associated tax benefits, which are reflected in the table below: 2020 2019 2018 Performance stock units $ 348 $ 544 $ 301 Restricted stock and stock units 290 273 153 Other nonvested stock units — 7 4 Stock options — (5) 5 Total $ 638 $ 819 $ 463 Income tax benefit $ 157 $ 202 $ 114 A summary of the status of our nonvested stock units as of December 31, 2020, and changes during the year then ended is presented as follows (shares in millions): Nonvested Stock Units Shares Weighted-Average Grant- Nonvested at January 1, 2020 42 $ 33.80 Granted 23 36.90 Vested (18) 35.87 Forfeited (4) 34.48 Nonvested at December 31, 2020 43 $ 34.50 As of December 31, 2020, there was $709 of total unrecognized compensation cost related to nonvested share-based payment arrangements granted. That cost is expected to be recognized over a weighted-average period of 2.09 years. The total fair value of shares vested during the year was $647 for 2020, compared to $798 for 2019 and $766 for 2018. It is our intent to satisfy share option exercises using our treasury stock. Cash received from stock option exercises was $65 for 2020, $446 for 2019 and $361 for 2018. |
Stockholders' Equity
Stockholders' Equity | 12 Months Ended |
Dec. 31, 2020 | |
Stockholders' Equity Note [Abstract] | |
Stockholders' Equity | STOCKHOLDERS’ EQUITY Authorized Shares We have authorized 14 billion common shares of AT&T stock and 10 million preferred shares of AT&T stock, each with a par value of $1.00 per share. Cumulative perpetual preferred shares consist of the following: • Series A: 48 thousand shares outstanding at December 31, 2020 and December 31, 2019, with a $25,000 per share liquidation preference and a dividend rate of 5.000%. • Series B: 20 thousand shares outstanding at December 31, 2020 and zero outstanding at December 31, 2019, with a €100,000 per share liquidation preference, and an initial rate of 2.875%, subject to reset after May 1, 2025. • Series C: 70 thousand shares outstanding at December 31, 2020 and zero outstanding at December 31, 2019, with a $25,000 per share liquidation preference, and a dividend rate of 4.75%. So long as the quarterly preferred dividends are declared and paid on a timely basis on each series of preferred shares, there are no limitations on our ability to declare a dividend on or repurchase AT&T common shares. The preferred shares are optionally redeemable by AT&T at the liquidation price on or after five years from the issuance date, or upon certain other contingent events. Stock Repurchase Program From time to time, we repurchase shares of common stock for distribution through our employee benefit plans or in connection with certain acquisitions. Our Board of Directors has approved the following authorizations to repurchase common stock: (1) March 2013 authorization program of 300 million shares, which was completed in 2020 and (2) March 2014 authorization program for an additional 300 million shares, with approximately 178 million outstanding at December 31, 2020. To implement these authorizations, we used open market repurchases, relying on Rule 10b5-1 of the Securities Exchange Act of 1934, where feasible. We also used accelerated share repurchase agreements with large financial institutions to repurchase our stock. During 2020, we repurchased approximately 142 million shares totaling $5,278 under the March 2013 and March 2014 authorizations. Dividend Declarations In December 2020, AT&T declared a quarterly preferred dividend of $36 and a quarterly common dividend of $0.52 per share of common stock. In December 2019, AT&T declared a quarterly preferred dividend of $8 and an increase in its quarterly common dividend to $0.52 per share of common stock. Preferred Interests Issued by Subsidiaries We have issued cumulative perpetual preferred membership interests in certain subsidiaries. The preferred interests are entitled to cash distributions, subject to declaration. The preferred interests are included in “Noncontrolling interest” on the consolidated balance sheets. Mobility II We previously issued 320 million Series A Cumulative Perpetual Preferred Membership Interests in Mobility II (Mobility preferred interests), representing all currently outstanding Mobility preferred equity interests, which pay cash distributions of $560 per annum, subject to declaration. So long as the distributions are declared and paid, the terms of the Mobility preferred equity interests will not impose any limitations on cash movements between affiliates, or our ability to declare a dividend on or repurchase AT&T shares. A holder of the Mobility preferred interests may put the interests to Mobility II. Mobility II may redeem the interests upon a change in control of Mobility II or on or after September 9, 2022. When either options arise due to a passage of time, that option may be exercised only during certain periods. The price at which a put option or a redemption option can be exercised is the greater of (1) the market value of the interests as of the last date of the quarter preceding the date of the exercise of a put or redemption option and (2) the sum of (a) twenty-five dollars ($8,000 in the aggregate) plus (b) any accrued and unpaid distributions. The redemption price may be paid with cash, AT&T common stock, or a combination of cash and AT&T common stock, at Mobility II’s sole election. In no event shall Mobility II be required to deliver more than 250 million shares of AT&T common stock to settle put and redemption options. We have the intent and ability to settle the Mobility preferred equity interests with cash. Tower Holdings In 2019, we issued $6,000 nonconvertible cumulative preferred interests in a wireless subsidiary (Tower Holdings) that holds interests in various tower assets and have the right to receive approximately $6,000 if the purchase options from the tower companies are exercised. The membership interests in Tower Holdings consist of (1) common interests, which are held by a consolidated subsidiary of AT&T, and (2) two series of preferred interests (collectively the “Tower preferred interests”). The September series (Class A-1) of the preferred interests totals $1,500 and pays an initial preferred distribution of 5.0%, and the December series (Class A-2) totals $4,500 and pays an initial preferred distribution of 4.75%. Distributions are paid quarterly, subject to declaration, and reset every five years. Any failure to declare or pay distributions on the Tower preferred interests would not impose any limitation on cash movements between affiliates, or our ability to declare a dividend on or repurchase AT&T shares. We can call the Tower preferred interests at the issue price beginning five years from the issuance date or upon the receipt of proceeds from the sale of the underlying assets. The holders of the Tower preferred interests have the option to require redemption upon the occurrence of certain contingent events, such as the failure of AT&T to pay the preferred distribution for two or more periods or to meet certain other requirements, including a minimum credit rating. If notice is given upon such an event, all other holders of equal or more subordinate classes of membership interests in Tower Holdings are entitled to receive the same form of consideration payable to the holders of the preferred interests, resulting in a deemed liquidation for accounting purposes. Telco LLC In September 2020, we issued $2,000 nonconvertible cumulative preferred interests out of a newly created limited liability company (Telco LLC) that was formed to hold telecommunication-related assets. Members’ equity in Telco LLC consist of (1) member’s interests, which are held by a consolidated subsidiary of AT&T, and (2) preferred interests (Telco preferred interests), which pay an initial preferred distribution of 4.25% annually, subject to declaration, and subject to reset every seven years. Failure to pay distributions on the Telco preferred interests would not limit cash movements between affiliates, or our ability to declare a dividend on or repurchase AT&T shares. We can call the Telco preferred interests at the issue price beginning seven years from the issuance date. The holders of the Telco preferred interests have the option to require redemption upon the occurrence of certain contingent events, such as the failure of Telco LLC to pay the preferred distribution for two or more periods or to meet certain other requirements, including a minimum credit rating. If notice is given, all other holders of equal or more subordinate classes of members equity are entitled to receive the same form of consideration payable to the holders of the preferred interests, resulting in a deemed liquidation for accounting purposes. PR Holdings In 2019, we issued $1,950 nonconvertible cumulative preferred interests in a subsidiary (PR Holdings) that held notes secured by the proceeds from our agreement to sell wireless and wireline operations in Puerto Rico and the U.S. Virgin Islands. These preferred interests were redeemed on November 6, 2020. (See Note 6) The membership interests in PR Holdings consisted of (1) common interests, which were held by consolidated subsidiaries of AT&T, and (2) preferred interests (PR preferred interests). The PR preferred interests paid an initial preferred distribution at an annual rate of 4.75%. Distributions were paid quarterly, subject to declaration. |
Sales Of Receivables
Sales Of Receivables | 12 Months Ended |
Dec. 31, 2020 | |
Receivables [Abstract] | |
Sales Of Receivables | NOTE 18. SALES OF RECEIVABLES We have agreements with various third-party financial institutions pertaining to the sales of certain types of our accounts receivable. The most significant of these programs are discussed in detail below and generally consist of (1) receivables arising from equipment installment plans, which are sold for cash and a deferred purchase price, and (2) revolving service and trade receivables. Under these programs, we transfer receivables to purchasers in exchange for cash and additional consideration upon settlement of the receivables, where applicable. Under the terms of our agreements for these programs, we continue to bill and collect the payments from our customers on behalf of the financial institutions. The sales of receivables did not have a material impact on our consolidated statements of income or to “Total Assets” reported on our consolidated balance sheets. We reflect cash receipts on sold receivables as cash flows from operations in our consolidated statements of cash flows. Cash receipts on the deferred purchase price are classified as cash flows from investing activities. Our equipment installment and revolving receivables programs are discussed in detail below. The following table sets forth a summary of the receivables and accounts being serviced at December 31: 2020 2019 Equipment Installment Revolving Equipment Installment Revolving Gross receivables: $ 5,565 $ 3,909 $ 4,576 $ 3,324 Balance sheet classification Accounts receivable Notes receivable 2,716 — 2,467 — Trade receivables 554 3,715 477 2,809 Other Assets Noncurrent notes and trade receivables 2,295 194 1,632 515 Outstanding portfolio of receivables derecognized from our consolidated balance sheets 7,827 5,300 9,713 4,300 Cash proceeds received, net of remittances 1 5,646 5,300 7,211 4,300 1 Represents amounts to which financial institutions remain entitled, excluding the deferred purchase price. Equipment Installment Receivables Program We offer our customers the option to purchase certain wireless devices in installments over a specified period of time and, in many cases, once certain conditions are met, they may be eligible to trade in the original equipment for a new device and have the remaining unpaid balance paid or settled. We maintain a program under which we transfer a portion of these receivables through our bankruptcy-remote subsidiary in exchange for cash and additional consideration upon settlement of the receivables, referred to as the deferred purchase price. In the event a customer trades in a device prior to the end of the installment contract period, we agree to make a payment to the financial institutions equal to any outstanding remaining installment receivable balance. Accordingly, we record a guarantee obligation for this estimated amount at the time the receivables are transferred. The following table sets forth a summary of equipment installment receivables sold under this program: 2020 2019 2018 Gross receivables sold $ 7,270 $ 9,921 $ 9,391 Net receivables sold 1 7,026 9,483 8,871 Cash proceeds received 6,089 8,189 7,488 Deferred purchase price recorded 1,021 1,451 1,578 Guarantee obligation recorded 157 341 361 1 Receivables net of allowance, imputed interest and equipment trade-in right guarantees. The deferred purchase price and guarantee obligation are initially recorded at estimated fair value and subsequently adjusted for changes in present value of expected cash flows. The estimation of their fair values is based on remaining installment payments expected to be collected and the expected timing and value of device trade-ins. The estimated value of the device trade-ins considers prices offered to us by independent third parties that contemplate changes in value after the launch of a device model. The fair value measurements used for the deferred purchase price and the guarantee obligation are considered Level 3 under the Fair Value Measurement and Disclosure framework (see Note 13). The following table presents the previously transferred equipment installment receivables, which we repurchased in exchange for the associated deferred purchase price: 2020 2019 2018 Fair value of repurchased receivables $ 1,271 $ 1,418 $ 1,480 Carrying value of deferred purchase price 1,235 1,350 1,393 Gain on repurchases 1 $ 36 $ 68 $ 87 1 These gains are included in “Selling, general and administrative” in the consolidated statements of income. At December 31, 2020 and December 31, 2019, our deferred purchase price receivable was $1,991 and $2,336, respectively, of which $1,476 and $1,569 are included in “Other current assets” on our consolidated balance sheets, with the remainder in “Other Assets.” The guarantee obligation at December 31, 2020 and December 31, 2019 was $228 and $384, respectively, of which $161 and $148 are included in “Accounts payable and accrued liabilities” on our consolidated balance sheets, with the remainder in “Other noncurrent liabilities.” Our maximum exposure to loss as a result of selling these equipment installment receivables is limited to the total amount of our deferred purchase price and guarantee obligation. Revolving Receivables Program In 2019, we entered into a one-year revolving agreement to transfer up to $4,300 of certain receivables through our bankruptcy-remote subsidiaries to various financial institutions on a recurring basis in exchange for cash equal to the gross receivables transferred. In 2020, we expanded the program limit to $5,300 and we extended the agreement by one year. As customers pay their balances, we transfer additional receivables into the program, resulting in our gross receivables sold exceeding net cash flow impacts (e.g., collect and reinvest). The transferred receivables are fully guaranteed by our bankruptcy-remote subsidiaries, which hold additional receivables in the amount of $3,909 that are pledged as collateral under this agreement. The transfers are recorded at fair value of the proceeds received and obligations assumed less derecognized receivables. The obligation is subsequently adjusted for changes in estimated expected credit losses and interest rates. Our maximum exposure to loss related to these receivables transferred is limited to the amount outstanding. The fair value measurement used for the obligation is considered Level 3 under the Fair Value Measurement and Disclosure framework (see Note 13). The following table sets forth a summary of receivables sold: 2020 2019 2018 Gross receivables sold/cash proceeds received 1 $ 15,888 $ 11,989 $ — Collections reinvested under revolving agreement 14,888 7,689 — Net cash proceeds received (remitted) $ 1,000 $ 4,300 $ — Net receivables sold 2 $ 15,760 $ 11,604 $ — Obligations recorded (reversed) 271 530 — 1 Includes initial sale of receivables of $1,000 and $4,300 for 2020 and 2019, respectively. 2 Receivables net of allowance, return and incentive reserves and imputed interest. |
Tower Transaction
Tower Transaction | 12 Months Ended |
Dec. 31, 2020 | |
Other Liabilities [Abstract] | |
Tower Transaction | NOTE 19. TOWER TRANSACTION In December 2013, we closed our transaction with Crown Castle International Corp. (Crown Castle) in which Crown Castle gained the exclusive rights to lease and operate 9,048 wireless towers and purchased 627 of our wireless towers for $4,827 in cash. The leases have various terms with an average length of approximately 28 years. As the leases expire, Crown Castle will have fixed price purchase options for these towers totaling approximately $4,200, based on their estimated fair market values at the end of the lease terms. We sublease space on the towers from Crown Castle for an initial term of ten years at current market rates, subject to optional renewals in the future. We determined that we did not transfer control of the tower assets, which prevented us from achieving sale-leaseback accounting for the transaction, and we accounted for the cash proceeds from Crown Castle as a financing obligation on our consolidated balance sheets. We record interest on the financing obligation using the effective interest method at a rate of approximately 3.9%. The financing obligation is increased by interest expense and estimated future net cash flows generated and retained by Crown Castle from operation of the tower sites, and reduced by our contractual payments. We continue to include the tower assets in “Property, Plant and Equipment - Net” on our consolidated balance sheets and depreciate them accordingly. At December 31, 2020 and 2019, the tower assets had a balance of $764 and $804, respectively. Our depreciation expense for these assets was $39 for each of 2020, 2019 and 2018. Payments made to Crown Castle under this arrangement were $248 for 2020. At December 31, 2020, the future minimum payments under the sublease arrangement are $253 for 2021, $258 for 2022, $264 for 2023, $269 for 2024, $274 for 2025 and $856 thereafter. |
FirstNet
FirstNet | 12 Months Ended |
Dec. 31, 2020 | |
Contractors [Abstract] | |
FirstNet | NOTE 20. FIRSTNET In 2017, the First Responder Network Authority (FirstNet) selected AT&T to build and manage the first nationwide broadband network dedicated to America’s first responders. Under the 25-year agreement, FirstNet provides 20 MHz of valuable telecommunications spectrum and success-based payments of $6,500 over the first five years to support network buildout. We are required to construct a network that achieves coverage and nationwide interoperability requirements and have a contractual commitment to make sustainability payments of $18,000 over the 25-year contract. These sustainability payments represent our commitment to fund FirstNet’s operating expenses and future reinvestments in the network which we own and operate, which we estimate in the $3,000 or less range over the life of the 25-year contract. After FirstNet’s operating expenses are paid, we anticipate the remaining amount, expected to be in the $15,000 range, will be reinvested into the network. During 2020, we submitted $120 in sustainability payments, with future payments under the agreement of $120 for 2021; $195 for 2022, 2023, 2024 and 2025; and $16,620 thereafter. Amounts paid to FirstNet, which are not expected to be returned to AT&T to be reinvested into our network, will be expensed in the period paid. In the event FirstNet does not reinvest any funds to construct, operate, improve and maintain this network, our maximum exposure to loss is the total amount of the sustainability payments, which would be reflected in higher expense. The $6,500 of initial funding from FirstNet is contingent on the achievement of six operating capability milestones and certain first responder subscriber adoption targets. These milestones are based on coverage objectives of the first responder network during the construction period, which is expected to be over five years, and subscriber adoption targets. Funding payments to be received from FirstNet are reflected as a reduction from the costs capitalized in the construction of the network and, as appropriate, a reduction of associated operating expenses. As of December 31, 2020, we have collected approximately $5,000 for the completion of certain tasks and anticipate collecting the remainder of the $6,500 as we achieve milestones set out by FirstNet over the next two years. We also expect to receive approximately $200 over the next few years from FirstNet for reinvestment above the original success-based payments. |
Contingent Liabilities
Contingent Liabilities | 12 Months Ended |
Dec. 31, 2020 | |
Commitments and Contingencies Disclosure [Abstract] | |
Contingent Liabilities | NOTE 21. CONTINGENT LIABILITIES We are party to numerous lawsuits, regulatory proceedings and other matters arising in the ordinary course of business. In evaluating these matters on an ongoing basis, we take into account amounts already accrued on the balance sheet. In our opinion, although the outcomes of these proceedings are uncertain, they should not have a material adverse effect on our financial position, results of operations or cash flows. We have contractual obligations to purchase certain goods or services from various other parties. Our purchase obligations are expected to be approximately $20,274 in 2021, $21,275 in total for 2022 and 2023, $11,142 in total for 2024 and 2025 and $17,919 in total for years thereafter. See Note 13 for a discussion of collateral and credit-risk contingencies. |
Additional Financial Informatio
Additional Financial Information | 12 Months Ended |
Dec. 31, 2020 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Additional Financial Information | NOTE 22. ADDITIONAL FINANCIAL INFORMATION December 31, Consolidated Balance Sheets 2020 2019 Accounts payable and accrued liabilities: Accounts payable $ 31,836 $ 29,640 Accrued payroll and commissions 2,988 3,126 Current portion of employee benefit obligation 1,415 1,528 Accrued participations and residuals 2,708 2,852 Accrued interest 2,454 2,498 Other 7,631 6,312 Total accounts payable and accrued liabilities $ 49,032 $ 45,956 Consolidated Statements of Income 2020 2019 2018 Advertising expense $ 5,253 $ 6,121 $ 5,100 Interest expense incurred $ 8,048 $ 8,622 $ 8,450 Capitalized interest (123) (200) (493) Total interest expense $ 7,925 $ 8,422 $ 7,957 Cash and Cash Flows We typically maintain our restricted cash balances for purchases and sales of certain investment securities and funding of certain deferred compensation benefit payments. The following table summarizes cash and cash equivalents and restricted cash balances contained on our consolidated balance sheets: December 31, Cash and Cash Equivalents and Restricted Cash 2020 2019 2018 2017 Cash and cash equivalents $ 9,740 $ 12,130 $ 5,204 $ 50,498 Restricted cash in Other current assets 9 69 61 6 Restricted cash in Other Assets 121 96 135 428 Cash and cash equivalents and restricted cash $ 9,870 $ 12,295 $ 5,400 $ 50,932 The following table summarizes cash paid during the periods for interest and income taxes: Consolidated Statements of Cash Flows 2020 2019 2018 Cash paid (received) during the year for: Interest $ 8,237 $ 8,693 $ 8,818 Income taxes, net of refunds 993 1,421 (354) Spectrum acquisitions 1,613 1,576 521 Noncash Investing and Financing Activities In connection with capital improvements and the acquisition of other productive assets, we negotiate favorable payment terms (referred to as vendor financing), which are reported as financing activities in our statements of cash flows when paid. We recorded $4,664 of vendor financing commitments related to capital investments in 2020, $2,632 in 2019 and $2,162 in 2018. |
Subsequent Events (Unaudited)
Subsequent Events (Unaudited) | 12 Months Ended |
Dec. 31, 2020 | |
Subsequent Events [Abstract] | |
Subsequent Events (Unaudited) | NOTE 23. SUBSEQUENT EVENTS (UNAUDITED) WarnerMedia On May 17, 2021, we entered into an agreement to combine our WarnerMedia segment, subject to certain exceptions, with a subsidiary of Discovery, Inc. (Discovery). The agreement is structured as a Reverse Morris Trust transaction, under which WarnerMedia will be distributed to AT&T’s shareholders via a pro rata dividend, an exchange offer, or a combination of both, and combined with Discovery. The transaction is expected to be tax-free to AT&T and AT&T’s shareholders. AT&T will receive approximately $43,000 (subject to adjustment) in a combination of cash, debt securities, and WarnerMedia’s retention of certain debt, and AT&T’s shareholders will receive stock representing approximately 71% of the new company; Discovery shareholders will own approximately 29% of the new company. The transaction is expected to close in mid-2022, subject to approval by Discovery shareholders and customary closing conditions, including receipt of regulatory approvals. No vote is required by AT&T shareholders. The merger agreement contains certain customary termination rights for AT&T and Discovery, including, without limitation, a right for either party to terminate if the transaction is not completed on or before July 15, 2023. Termination under specified circumstances will require Discovery to pay AT&T a termination fee of $720 or AT&T to pay Discovery a termination fee of $1,770. Magallanes, Inc (Spinco), a subsidiary of AT&T, entered into a $41,500 commitment letter (Bridge Commitment Letter) on May 17, 2021. On June 4, 2021, Spinco entered into a $10,000 term loan credit agreement and reduced the Bridge Commitment Letter to $31,500. There have been no draws on the Bridge Commitment Letter or term loan credit agreement. The proceeds from these funding arrangements will be used by Spinco, Inc. on the closing date to make the special cash payment and to otherwise fund the transaction. Video Business On February 25, 2021, we signed an agreement to form a new company named DIRECTV (New DTV) with TPG Capital, which will be jointly governed by a board with representation from both AT&T and TPG. Under the agreement, we will contribute our Video business unit to New DTV for $4,250 of junior preferred units, an additional distribution preference of $4,200 and a 70% economic interest in common units. We expect to receive $7,600 in cash from New DTV at closing. TPG will contribute approximately $1,800 in cash to New DTV for $1,800 of senior preferred units and a 30% economic interest in common units. The remaining $5,800 will be funded by debt taken on by New DTV. As part of this transaction, we agreed to pay net losses under the NFL SUNDAY TICKET contract up to a cap of $2,500 over the remaining period of the contract. The transaction is expected to close in the second half of 2021, pending customary closing conditions. The total of $7,600 of proceeds from the transaction are expected to reduce our total and net debt positions. In the first quarter of 2021, we met the criteria to apply held-for-sale accounting treatment to the assets and liabilities of the U.S. video business, and accordingly began to include the assets in “Other current assets,” and the related liabilities in “Accounts payable and accrued liabilities,” on our consolidated balance sheet at March 31, 2021. The carrying amounts at December 31, 2020 of these assets and liabilities were approximately $16,150 and $4,900, respectively. Given the treatment as held-for-sale, we also reclassified the held-for-sale Video business results from the Communications segment to Corporate and Other beginning in the first quarter of 2021, consistent with historical practice. |
Summary Of Significant Accoun_2
Summary Of Significant Accounting Policies (Policy) | 12 Months Ended |
Dec. 31, 2020 | |
Accounting Policies [Abstract] | |
Principles of Consolidation | All significant intercompany transactions are eliminated in the consolidation process. Investments in subsidiaries and partnerships which we do not control but have significant influence are accounted for under the equity method. Earnings from certain investments accounted for using the equity method are included for periods ended within up to one quarter of our period end. We also record our proportionate share of our equity method investees’ other comprehensive income (OCI) items, including translation adjustments. We treat distributions received from equity method investees as returns on investment and classify them as cash flows from operating activities until those distributions exceed our cumulative equity in the earnings of that investment. We treat the excess amount as a return of investment and classify it as cash flows from investing activities. |
Basis of Accounting | The preparation of financial statements in conformity with U.S. generally accepted accounting principles (GAAP) requires management to make estimates and assumptions, including potential impacts arising from the COVID-19 pandemic and other estimates of probable losses and expenses, that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. Certain prior-period amounts have been conformed to the current period’s presentation. |
Credit Losses / Allowance for Credit Losses | Credit Losses As of January 1, 2020, we adopted, through modified retrospective application, the Financial Accounting Standards Board’s (FASB) Accounting Standards Update (ASU) No. 2016-13, “Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments,” or Accounting Standards Codification (ASC) 326 (ASC 326), which replaces the incurred loss impairment methodology under prior GAAP with an expected credit loss model. ASC 326 affects trade receivables, loans, contract assets, certain beneficial interests, off-balance-sheet credit exposures not accounted for as insurance and other financial assets that are not subject to fair value through net income, as defined by the standard. Under the expected credit loss model, we are required to consider future economic trends to estimate expected credit losses over the lifetime of the asset. Upon adoption on January 1, 2020, we recorded a $293 reduction to “Retained earnings,” $395 increase to “Allowances for credit losses” applicable to our trade and loan receivables, $10 reduction of contract assets, $105 reduction of net deferred income tax liability and $7 reduction of “Noncontrolling interest.” Our adoption of ASC 326 did not have a material impact on our financial statements. Allowance for Credit Losses We record expense to maintain an allowance for credit losses for estimated losses that result from the failure or inability of our customers to make required payments deemed collectible from the customer when the service was provided or product was delivered. When determining the allowances for trade receivables and loans, we consider the probability of recoverability of accounts receivable based on past experience, taking into account current collection trends and general economic factors, including bankruptcy rates. We also consider future economic trends to estimate expected credit losses over the lifetime of the asset. Credit risks are assessed based on historical write-offs, net of recoveries, as well as an analysis of the aged accounts receivable balances with allowances generally increasing as the receivable ages. Accounts receivable may be fully reserved for when specific collection issues are known to exist, such as catastrophes or pending bankruptcies. |
Leases | Leases As of January 1, 2019, we adopted, with modified retrospective application, the FASB's ASU No. 2016-02, “Leases (Topic 842)” (ASC 842), which replaces existing leasing rules with a comprehensive lease measurement and recognition standard and expanded disclosure requirements (see Note 8). ASC 842 requires lessees to recognize most leases on their balance sheets as liabilities, with corresponding “right-of-use” assets. For income statement recognition purposes, leases are classified as either a finance or an operating lease without relying upon bright-line tests. The key change upon adoption of the standard was balance sheet recognition of operating leases, given that the recognition of lease expense on our income statement is similar to our historical accounting. Using the modified retrospective transition method of adoption, we did not adjust the balance sheet for comparative periods but recorded a cumulative effect adjustment to retained earnings on January 1, 2019. We elected the package of practical expedients permitted under the transition guidance within the new standard, which, among other things, allowed us to carry forward our historical lease classification. We also elected the practical expedient related to land easements, allowing us to carry forward our accounting treatment for land easements on existing agreements that were not accounted for as leases. We excluded leases with original terms of one year or less. Additionally, we elected to not separate lease and non-lease components for certain classes of assets. Our accounting for finance leases did not change from our prior accounting for capital leases. |
Deferral of Episodic Television and Film Costs, Equipment Inventory, and Licensed Programming Inventory Cost Recognition and Impairment | Deferral of Episodic Television and Film Costs In March 2019, the FASB issued ASU No. 2019-02, “ Entertainment—Films—Other Assets—Film Costs (Subtopic 926-20) and Entertainment—Broadcasters—Intangibles—Goodwill and Other (Subtopic 920-350): Improvements to Accounting for Costs of Films and License Agreements for Program Materials” (ASU 2019-02), which we early adopted as of January 1, 2019, with prospective application. The standard eliminates certain revenue-related constraints on capitalization of inventory costs for episodic television that existed under prior guidance. In addition, the balance sheet classification requirements that existed in prior guidance for film production costs and programming inventory were eliminated. As of January 1, 2019, we reclassified $2,274 of our programming inventory costs from “Other current assets” to “Other Assets” in accordance with the guidance (see Note 11). This change in accounting did not materially impact our income statement. Equipment Inventory Equipment inventories, which primarily consist of wireless devices and accessories, are included in “Other current assets” on our consolidated balance sheets. Equipment inventories are valued at the lower of cost or net realizable value and were $3,592 at December 31, 2020 and $2,864 at December 31, 2019. Licensed Programming Inventory Cost Recognition and Impairment We enter into agreements to license programming exhibition rights from licensors. A programming inventory asset related to these rights and a corresponding liability payable to the licensor are recorded (on a discounted basis if the license agreements are long-term) when (i) the cost of the programming is reasonably determined, (ii) the programming material has been accepted in accordance with the terms of the agreement, (iii) the programming is available for its first showing or telecast, and (iv) the license period has commenced. There are variations in the amortization methods of these rights, depending on whether the network is advertising-supported (e.g., TNT and TBS) or not advertising-supported (e.g., HBO and Turner Classic Movies). For the advertising-supported networks, our general policy is to amortize each program’s costs on a straight-line basis (or per-play basis, if greater) over its license period. In circumstances where the initial airing of the program has more value than subsequent airings, an accelerated method of amortization is used. The accelerated amortization upon the first airing versus subsequent airings is determined based on a study of historical and estimated future advertising sales for similar programming. For rights fees paid for sports programming arrangements, such rights fees are amortized using a revenue-forecast model, in which the rights fees are amortized using the ratio of current period advertising revenue to total estimated remaining advertising revenue over the term of the arrangement. For premium pay television, streaming and over-the-top (OTT) services that are not advertising-supported, each licensed program’s costs are amortized on a straight-line basis over its license period or estimated period of use, beginning with the month of initial exhibition. When we have the right to exhibit feature theatrical programming in multiple windows over a number of years, historical audience viewership is used as the basis for determining the amount of programming amortization attributable to each window. Licensed programming inventory is carried at the lower of unamortized cost or fair value. For networks that generate both advertising and subscription revenues, the net realizable value of unamortized programming costs is generally evaluated based on the network’s programming taken as a whole. In assessing whether the programming inventory for a particular advertising-supported network is impaired, the net realizable value for all of the network’s programming inventory is determined based on a projection of the network’s profitability. This assessment would occur upon the occurrence of certain triggering events. Similarly, for premium pay television, streaming and OTT services that are not advertising-supported, an evaluation of the fair value of unamortized programming costs is performed based on services’ licensed programming taken as a whole. Specifically, the fair value for all premium pay television, streaming and OTT service licensed programming is determined based on projections of estimated subscription revenues less certain costs of delivering and distributing the licensed programming. Changes in management’s intended usage of a specific program, such as a decision to no longer exhibit that program and forgo the use of the rights associated with the program license, results in a reassessment of that program’s fair value, which could result in an impairment (see Note 11). Film and Television Production Cost Recognition, Participations and Residuals and Impairments Film and television production costs on our consolidated balance sheets include the unamortized cost of completed theatrical films and television episodes, theatrical films and television series in production and undeveloped film and television rights. Film and television production costs are stated at the lower of cost, less accumulated amortization, or fair value. For films and television programs predominantly monetized individually, the amount of capitalized film and television production costs and the amount of participations and residuals to be recognized as broadcast, programming and operations expenses for a given film or television series in a particular period are determined using the film forecast computation method. Under this method, the amortization of capitalized costs and the accrual of participations and residuals are based on the proportion of the film’s (or television program’s) revenues recognized for such period to the film’s (or television program’s) estimated remaining ultimate revenues (i.e., the total revenue to be received throughout a film’s (or television program’s) life cycle). The process of estimating a film’s ultimate revenues requires us to make a series of judgments related to future revenue-generating activities associated with a particular film. We estimate the ultimate revenues, less additional costs to be incurred (including exploitation and participation costs), in order to determine whether the value of a film or television series is impaired and requires an immediate write-off of unrecoverable film and television production costs. To the extent that the ultimate revenues are adjusted, the resulting gross margin reported on the exploitation of that film or television series in a period is also adjusted. (See Note 11) Prior to the theatrical release of a film, our estimates are based on factors such as the historical performance of similar films, the star power of the lead actors, the rating and genre of the film, pre-release market research (including test market screenings), international distribution plans and the expected number of theaters in which the film will be released. In the absence of revenues directly related to the exhibition of owned film or television programs on our television networks, premium pay television, streaming or OTT services, we estimate a portion of the unamortized costs that are representative of the utilization of that film or television program in that exhibition and expense such costs as the film or television program is exhibited. The period over which ultimate revenues are estimated generally does not exceed ten years from the initial release of a motion picture or from the date of delivery of the first episode of an episodic television series. Estimates were updated based on information available during the film’s production and, upon release, the actual results of each film. For a film (or television program) predominantly monetized as part of a film (or television program) group, the amount of capitalized film and television production costs is amortized using a reasonably reliable estimate of the portion of unamortized film costs that is representative of the use of the film. Production costs are expensed as the film (or television program) is exhibited or exploited. |
Revenue Recognition | Revenue Recognition As of January 1, 2018, we adopted ASU No. 2014-09, “Revenue from Contracts with Customers (Topic 606),” as modified (ASC 606), using the modified retrospective method, which does not allow us to adjust prior periods. We applied the rules to all open contracts existing as of January 1, 2018, recording an increase of $2,342 to retained earnings for the cumulative effect of the change, with an offsetting contract asset of $1,737, deferred contract acquisition costs of $1,454, other asset reductions of $239, other liability reductions of $212, deferred income tax liability of $787 and increase to noncontrolling interest of $35. (See Note 5) We report our revenues net of sales taxes and record certain regulatory fees, primarily Universal Service Fund (USF) fees, on a net basis. No customer accounted for more than 10% of consolidated revenues in 2020, 2019 or 2018. Wireless, Advanced Data, Legacy Voice & Data Services and Equipment Revenue We offer service-only contracts and contracts that bundle equipment used to access the services and/or with other service offerings. Some contracts have fixed terms and others are cancellable on a short-term basis (i.e., month-to-month arrangements). Examples of service revenues include wireless, video entertainment (e.g., AT&T U-verse and DIRECTV), strategic services (e.g., virtual private network service), and legacy voice and data (e.g., traditional local and long-distance). These services represent a series of distinct services that is considered a separate performance obligation. Service revenue is recognized when services are provided, based upon either usage (e.g., minutes of traffic/bytes of data processed) or period of time (e.g., monthly service fees). Some of our services require customer premises equipment that, when combined and integrated with AT&T’s specific network infrastructure, facilitates the delivery of service to the customer. In evaluating whether the equipment is a separate performance obligation, we consider the customer’s ability to benefit from the equipment on its own or together with other readily available resources and if so, whether the service and equipment are separately identifiable (i.e., is the service highly dependent on, or highly interrelated with the equipment). When the equipment does not meet the criteria to be a separate performance obligation (e.g., equipment associated with certain video services), we allocate the total transaction price to the related service. When equipment is a separate performance obligation, we record the sale of equipment when title has passed and the products are accepted by the customer. For devices sold through indirect channels (e.g., national dealers), revenue is recognized when the dealer accepts the device, not upon activation. Our equipment and service revenues are predominantly recognized on a gross basis, as most of our services do not involve a third party and we typically control the equipment that is sold to our customers. Revenue recognized from fixed term contracts that bundle services and/or equipment is allocated based on the stand-alone selling price of all required performance obligations of the contract (i.e., each item included in the bundle). Promotional discounts are attributed to each required component of the arrangement, resulting in recognition over the contract term. Stand-alone selling prices are determined by assessing prices paid for service-only contracts (e.g., arrangements where customers bring their own devices) and stand-alone device pricing. We offer the majority of our customers the option to purchase certain wireless devices in installments over a specified period of time, and, in many cases, they may be eligible to trade in the original equipment for a new device and have the remaining unpaid balance paid or settled. For customers that elect these equipment installment payment programs, at the point of sale, we recognize revenue for the entire amount of revenue allocated to the customer receivable net of fair value of the trade-in right guarantee. The difference between the revenue recognized and the consideration received is recorded as a note receivable when the devices are not discounted and our right to consideration is unconditional. When installment sales include promotional discounts (e.g., “buy one get one free”), the difference between revenue recognized and consideration received is recorded as a contract asset to be amortized over the contract term. Less commonly, we offer certain customers highly discounted devices when they enter into a minimum service agreement term. For these contracts, we recognize equipment revenue at the point of sale based on a stand-alone selling price allocation. The difference between the revenue recognized and the cash received is recorded as a contract asset that will amortize over the contract term. Our contracts allow for customers to frequently modify their arrangement, without incurring penalties in many cases. When a contract is modified, we evaluate the change in scope or price of the contract to determine if the modification should be treated as a new contract or if it should be considered a change of the existing contract. We generally do not have significant impacts from contract modifications. Revenues from transactions between us and our customers are recorded net of revenue-based regulatory fees and taxes. Cash incentives given to customers are recorded as a reduction of revenue. Nonrefundable, upfront service activation and setup fees associated with service arrangements are deferred and recognized over the associated service contract period or customer relationship life. Subscription Revenue Subscription revenues from cable networks and premium pay and basic-tier television services are recognized over the license period as programming is provided to affiliates or digital distributors based on negotiated contractual programming rates. When a distribution contract with an affiliate has expired and a new distribution contract has not been executed, revenues are based on estimated rates, giving consideration to factors including the previous contractual rates, inflation, current payments by the affiliate and the status of the negotiations on a new contract. When the new distribution contract terms are finalized, an adjustment to revenue is recorded, if necessary, to reflect the new terms. Subscription revenues from end-user subscribers are recognized when services are provided, based upon either usage or period of time. Subscription revenues from streaming services are recognized as programming services are provided to customers. Content Revenue Feature films typically are produced or acquired for initial exhibition in theaters, followed by distribution, generally commencing within three years of such initial exhibition. Revenues from film rentals by theaters are recognized as the films are exhibited. Television programs and series are initially produced for broadcast and may be subsequently licensed or sold in physical format and/or electronic delivery. Revenues from the distribution of television programming through broadcast networks, cable networks, first-run syndication and streaming services are recognized when the programs or series are available to the licensee. In certain circumstances, pursuant to the terms of the applicable contractual arrangements, the availability dates granted to customers may precede the date in which the customer can be billed for these sales. Revenues from sales of feature films and television programming in physical format are recognized at the later of the delivery date or the date when made widely available for sale or rental by retailers based on gross sales less a provision for estimated returns, rebates and pricing allowances. Revenues from the licensing of television programs and series for electronic sell-through or video-on-demand are recognized when the product has been purchased by and made available to the consumer to either download or stream. Upfront or guaranteed payments for the licensing of intellectual property are recognized as revenue at either the inception of the license term if the intellectual property has significant standalone functionality or over the corresponding license term if the licensee’s ability to derive utility is dependent on our continued support of the intellectual property throughout the license term. Revenues from the sales of console games are recognized at the later of the delivery date or the date that the product is made widely available for sale or rental by retailers based on gross sales less a provision for estimated returns, rebates and pricing allowances. Advertising Revenue Advertising revenues are recognized, net of agency commissions, in the period that the advertisements are aired. If there is a targeted audience guarantee, revenues are recognized for the actual audience delivery and revenues are deferred for any shortfall until the guaranteed audience delivery is met, typically by providing additional advertisements. Advertising revenues from digital properties are recognized as impressions are delivered or the services are performed. |
Financial Instruments | Financial Instruments As of January 1, 2018, we adopted ASU No. 2016-01, “Financial Instruments – Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities” (ASU 2016-01), which requires us to prospective ly record changes in the fair value of our equity investments, except for those accounted for under the equity method, in net income instead of in accumulated other comprehensive income (accumulated OCI). As of January 1, 2018, we recorded an increase of $658 in retained earnings for the cumulative effect of the adoption of ASU 2016-01, with an offset to accumulated OCI. |
Income Taxes | Income Taxes We record deferred income taxes for temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the computed tax basis of those assets and liabilities. We record valuation allowances against the deferred tax assets (included, together with our deferred income tax assets, as part of our reportable net deferred income tax liabilities on our consolidated balance sheets), for which the realization is uncertain. We review these items regularly in light of changes in federal and state tax laws and changes in our business. The Tax Cuts and Jobs Act (the Act), which was enacted on December 22, 2017, reduced the U.S. federal corporate income tax rate from 35% to 21% and required companies to pay a one-time transition tax on earnings of certain foreign subsidiaries that were previously tax deferred. We included the estimated impact of the Act in our financial results at or for the period ended December 31, 2017, with additional adjustments recorded in 2018, as allowed by the Securities and Exchange Commission (SEC) in Staff Accounting Bulletin (SAB) 118. (See Note 14) |
Cash And Cash Equivalents | Cash and Cash Equivalents Cash and cash equivalents include all highly liquid investments with original maturities of three months or less. The carrying amounts approximate fair value. At December 31, 2020, we held $2,842 in cash and $6,898 in money market funds and other cash equivalents. Of our total cash and cash equivalents, $2,205 resided in foreign jurisdictions, some of which is subject to restrictions on repatriation. |
Property, Plant and Equipment | Property, Plant and Equipment Property, plant and equipment is stated at cost, except for assets acquired using acquisition accounting, which are initially recorded at fair value (see Note 7). The cost of additions and substantial improvements to property, plant and equipment is capitalized, and includes internal compensation costs for these projects. The cost of maintenance and repairs of property, plant and equipment is charged to operating expenses. Property, plant and equipment costs are depreciated using straight-line methods over their estimated economic lives. Certain subsidiaries follow composite group depreciation methodology. Accordingly, when a portion of their depreciable property, plant and equipment is retired in the ordinary course of business, the gross book value is reclassified to accumulated depreciation, and no gain or loss is recognized on the disposition of these assets. Property, plant and equipment is reviewed for recoverability whenever events or changes in circumstances indicate that the carrying amount of an asset group may not be recoverable. We recognize an impairment loss when the carrying amount of a long-lived asset is not recoverable. The carrying amount of a long-lived asset is not recoverable if it exceeds the sum of the undiscounted cash flows expected to result from the use and eventual disposition of the asset. See Note 7 for a discussion of an impairment of long-lived assets of the video business and other network asset abandonments. The liability for the fair value of an asset retirement obligation is recorded in the period in which it is incurred if a reasonable estimate of fair value can be made. In periods subsequent to initial measurement, we recognize period-to-period changes in the liability resulting from the passage of time and revisions to either the timing or the amount of the original estimate. The increase in the carrying value of the associated long-lived asset is depreciated over the corresponding estimated economic life. |
Software Costs | Software Costs We capitalize certain costs incurred in connection with developing or obtaining internal-use software. Capitalized software costs are included in “Property, Plant and Equipment - Net” on our consolidated balance sheets. In addition, there is certain network software that allows the equipment to provide the features and functions unique to the AT&T network, which we include in the cost of the equipment categories for financial reporting purposes. We amortize our capitalized software costs over a three-year to seven-year period, reflecting the estimated period during which these assets will remain in service. |
Goodwill and Other Intangible Assets | Goodwill and Other Intangible Assets We have the following major classes of intangible assets: goodwill; licenses, which include Federal Communications Commission (FCC) and other wireless licenses and orbital slots; distribution networks; film and television libraries; intellectual properties and franchises; trademarks and trade names; customer lists; and various other finite-lived intangible assets (see Note 9). Goodwill represents the excess of consideration paid over the fair value of identifiable net assets acquired in business combinations. Wireless licenses provide us with the exclusive right to utilize certain radio frequency spectrum to provide wireless communications services. While wireless licenses are issued for a fixed period of time (generally ten years), renewals of domestic wireless licenses have occurred routinely and at nominal cost. We have determined that there are currently no legal, regulatory, contractual, competitive, economic or other factors that limit the useful lives of our FCC wireless licenses. During 2019, in conjunction with the renewal process of certain wireless licenses in Mexico, we reassessed the estimated economic lives and renewal assumptions for these licenses. As a result, we have changed the life of these licenses from indefinite to finite-lived. On January 1, 2019, we began amortizing our wireless licenses in Mexico over their average remaining economic life of 25 years. This change in accounting does not materially impact our income statement. During the first quarter of 2020, in conjunction with the nationwide launch of AT&T TV and our customers’ continued shift from linear to streaming video services, we reassessed the estimated economic lives and renewal assumptions for our orbital slot licenses. As a result, we have changed the estimated lives of our orbital slot licenses from indefinite to finite-lived, effective January 1, 2020, and began amortizing these licenses using the sum-of-months-digits method over their average remaining economic life of 15 years at January 1, 2020. This change in accounting increased amortization expense $1,504, or $0.16 per diluted share available to common stock for 2020. We acquired the rights to the AT&T and other trade names in previous acquisitions, classifying certain of those trade names as indefinite-lived. We have the effective ability to retain these exclusive rights permanently at a nominal cost. During the first quarter of 2020, we reassessed and changed the estimated economic lives of certain trade names in our Latin America business from indefinite to finite-lived and began amortizing them using the straight-line method over their average remaining economic life of 15 years. This change had an insignificant impact on our financial statements. Goodwill, FCC wireless licenses and other indefinite-lived intangible assets are not amortized but are tested at least annually for impairment. The testing is performed on the value as of October 1 each year, and compares the book values of the assets to their fair values. Goodwill is tested by comparing the carrying amount of each reporting unit, deemed to be our principal operating segments or one level below them, to the fair value using both discounted cash flow as well as market multiple approaches. FCC wireless licenses are tested on an aggregate basis, consistent with our use of the licenses on a national scope, using a discounted cash flow approach. Prior to 2020, orbital slots were similarly aggregated for purposes of impairment testing and valued using a discounted cash flow approach. Trade names are tested by comparing their book values to their fair values calculated using a discounted cash flow approach on a presumed royalty rate derived from the revenues related to each brand name. Intangible assets that have finite useful lives are amortized over their estimated useful lives (see Note 9). As of January 1, 2020, on a prospective basis, orbital slots are amortized using the sum-of-the-months-digits method of amortization over their average remaining economic life. Customer lists and relationships are amortized using primarily the sum-of-the-months-digits method of amortization over the period in which those relationships are expected to contribute to our future cash flows. Finite-lived trademarks and trade names and distribution networks are amortized using the straight-line method over the estimated useful life of the assets. Film library is amortized using the film forecast computation method, as previously disclosed. The remaining finite-lived intangible assets are generally amortized using the straight-line method. These assets, along with other long-lived assets, are reviewed for recoverability whenever events or changes in circumstances indicate that the carrying amount of an asset group may not be recoverable. |
Advertising Costs | Advertising Costs We expense advertising costs for products and services or for promoting our corporate image as incurred (see Note 22). |
Foreign Currency Translation | Foreign Currency Translation Our foreign subsidiaries and foreign investments generally report their earnings in their local currencies. We translate their foreign assets and liabilities at exchange rates in effect at the balance sheet dates. We translate their revenues and expenses using average rates during the year. The resulting foreign currency translation adjustments are recorded as a separate component of accumulated OCI in our consolidated balance sheets (see Note 3). Operations in countries with highly inflationary economies use the U.S. dollar as the functional currency. We hedge a portion of the foreign currency exchange risk involved in certain foreign currency-denominated transactions, which we explain further in our discussion of our methods of managing our foreign currency risk (see Note 13). |
Pension And Other Postretirement Benefits | Pension and Other Postretirement Benefits See Note 15 for a comprehensive discussion of our pension and postretirement benefits, including a discussion of the actuarial assumptions, our policy for recognizing the associated gains and losses and our method used to estimate service and interest cost components. |
New Accounting Standards | New Accounting Standards Income Taxes In December 2019, the FASB issued ASU No. 2019-12, “Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes” (ASU 2019-12), which is expected to simplify income tax accounting requirements in areas deemed costly and complex. The amendments under ASU 2019-12 will be effective as of January 1, 2021, and interim periods within that year, with early adoption permitted in its entirety as of the beginning of the year of adoption. At adoption, the guidance allows for modified retrospective application through a cumulative effect adjustment to retained earnings. We do not expect ASU 2019-12 to have a material impact on our financial statements. Reference Rate Reform In March 2020, the FASB issued ASU No. 2020-04, “Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting” (ASU 2020-04, as amended), which provides optional expedients, and allows for certain exceptions to existing GAAP, for contract modifications triggered by the expected market transition of certain benchmark interest rates to alternative reference rates. ASU 2020-04 applies to contracts, hedging relationships, certain derivatives and other arrangements that reference the London Interbank Offering Rate (LIBOR) or any other rates ending after December 31, 2022. ASU 2020-04 became effective immediately. We are evaluating the impact of our adoption of ASU 2020-04, including optional expedients, to our financial statements. Convertible Instruments In August 2020, the FASB issued 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), which eliminated certain separation models regarding cash conversion and beneficial conversion features to simplify reporting for convertible instruments as a single liability or equity, with no separate accounting for embedded conversion features. ASU 2020-06 will be effective for fiscal years beginning after December 31, 2021, under modified retrospective or full retrospective application, subject to early adoption in 2021. We are evaluating the impact of our adoption of ASU 2020-06 on our financial statements. |
Derivatives, Offsetting Fair Value Amounts | We do not offset the fair value of collateral, whether the right to reclaim cash collateral (a receivable) or the obligation to return cash collateral (a payable) exists, against the fair value of the derivative instruments. |
Recognition of Actuarial Gains and Losses | We recognize gains and losses on pension and postretirement plan assets and obligations immediately in “Other income (expense) – net” in our consolidated statements of income. These gains and losses are generally measured annually as of December 31 and accordingly, will normally be recorded during the fourth quarter, unless an earlier remeasurement is required. |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Earnings Per Share [Abstract] | |
Reconciliation of Numerators and Denominators of Basic and Diluted Earnings Per Share | NOTE 2. EARNINGS PER SHARE A reconciliation of the numerators and denominators of basic and diluted earnings per share is shown in the table below: Year Ended December 31, 2020 2019 2018 Numerators Numerator for basic earnings per share: Net Income (Loss) $ (3,821) $ 14,975 $ 19,953 Less: Net Income Attributable to Noncontrolling Interest (1,355) (1,072) (583) Net Income (Loss) Attributable to AT&T (5,176) 13,903 19,370 Less: Preferred Stock Dividends (193) (3) — Net Income (Loss) Attributable to Common Stock (5,369) 13,900 19,370 Dilutive potential common shares: Share-based payment 1 23 21 19 Numerator for diluted earnings per share $ (5,346) $ 13,921 $ 19,389 Denominators (000,000) Denominator for basic earnings per share: Weighted average number of common shares outstanding 7,157 7,319 6,778 Dilutive potential common shares: Share-based payment (in shares) 1 26 29 28 Denominator for diluted earnings per share 7,183 7,348 6,806 Basic Earnings Per Share Attributable to Common Stock $ (0.75) $ 1.90 $ 2.85 Diluted Earnings Per Share Attributable to Common Stock 1 $ (0.75) $ 1.89 $ 2.85 1 For 2020, dilutive potential common shares are not included in the computation of diluted earnings per share because their effect is antidilutive as a result of the net loss. |
Other Comprehensive Income (Tab
Other Comprehensive Income (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |
Accumulated Other Comprehensive Income | Changes in the balances of each component included in accumulated OCI are presented below. All amounts are net of tax and exclude noncontrolling interest. Foreign Net Unrealized Net Unrealized Defined Benefit Accumulated Other Balance as of December 31, 2017 $ (2,054) $ 660 $ 1,402 $ 7,009 $ 7,017 Other comprehensive income (loss) before reclassifications (1,030) (4) (597) 830 (801) Amounts reclassified from accumulated OCI — 1 — 1 13 2 (1,322) 3 (1,309) Net other comprehensive income (loss) (1,030) (4) (584) (492) (2,110) Amounts reclassified to retained earnings 4 — (658) — — (658) Balance as of December 31, 2018 (3,084) (2) 818 6,517 4,249 Other comprehensive income (loss) before reclassifications 28 50 (900) 3,457 2,635 Amounts reclassified from accumulated OCI — 1 — 1 45 2 (1,459) 3 (1,414) Net other comprehensive income (loss) 28 50 (855) 1,998 1,221 Balance as of December 31, 2019 (3,056) 48 (37) 8,515 5,470 Other comprehensive income (loss) before reclassifications (870) 78 (811) 2,250 647 Amounts reclassified from accumulated OCI — 1 (15) 1 69 2 (1,841) 3 (1,787) Net other comprehensive income (loss) (870) 63 (742) 409 (1,140) Balance as of December 31, 2020 $ (3,926) $ 111 $ (779) $ 8,924 $ 4,330 1 (Gains) losses are included in “Other income (expense) – net” in the consolidated statements of income. 2 (Gains) losses are included in “Interest expense” in the consolidated statements of income (see Note 13). 3 The amortization of prior service credits associated with postretirement benefits is included in “Other income (expense) – net” in the consolidated statements of income (see Note 15). 4 With the adoption of ASU 2016-01, the unrealized (gains) losses on our equity investments are reclassified to retained earnings (see Note 1). |
Segment Information (Tables)
Segment Information (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Segment Reporting [Abstract] | |
Reconciliation of Revenues to Segment Contribution | For the year ended December 31, 2020 Revenues Operations EBITDA Depreciation and Amortization Operating Equity in Net Segment Communications Mobility $ 72,564 $ 42,106 $ 30,458 $ 8,086 $ 22,372 $ — $ 22,372 Business Wireline 25,083 15,303 9,780 5,216 4,564 — 4,564 Consumer Wireline 12,318 8,027 4,291 2,914 1,377 — 1,377 Total Communications 109,965 65,436 44,529 16,216 28,313 — 28,313 WarnerMedia Turner 12,568 6,954 5,614 277 5,337 (2) 5,335 Home Box Office 6,808 6,028 780 98 682 16 698 Warner Bros. 12,154 9,917 2,237 169 2,068 (70) 1,998 Eliminations and other (1,088) (1,320) 232 127 105 74 179 Total WarnerMedia 30,442 21,579 8,863 671 8,192 18 8,210 Latin America Vrio 3,154 2,800 354 520 (166) 24 (142) Mexico 2,562 2,636 (74) 513 (587) — (587) Total Latin America 5,716 5,436 280 1,033 (753) 24 (729) Segment Total 146,123 92,451 53,672 17,920 35,752 $ 42 $ 35,794 Corporate and Other Corporate 1 2,207 4,205 (1,998) 310 (2,308) Video 28,610 24,174 4,436 2,262 2,174 Acquisition-related items — 468 (468) 8,012 (8,480) Certain significant items — 19,156 (19,156) 14 (19,170) Eliminations and consolidations (5,180) (3,615) (1,565) (2) (1,563) AT&T Inc. $ 171,760 $ 136,839 $ 34,921 $ 28,516 $ 6,405 1 Operations and Support Expenses include $2,442 for the reclassification of prior service credit amortization. For the year ended December 31, 2019 Revenues Operations EBITDA Depreciation Operating Equity in Net Segment Communications Mobility $ 71,056 $ 40,681 $ 30,375 $ 8,054 $ 22,321 $ — $ 22,321 Business Wireline 25,901 15,839 10,062 4,925 5,137 — 5,137 Consumer Wireline 13,012 7,775 5,237 2,880 2,357 — 2,357 Total Communications 109,969 64,295 45,674 15,859 29,815 — 29,815 WarnerMedia Turner 13,122 7,740 5,382 235 5,147 52 5,199 Home Box Office 6,749 4,312 2,437 102 2,335 30 2,365 Warner Bros. 14,358 11,816 2,542 162 2,380 (30) 2,350 Eliminations and other 1,030 304 726 90 636 109 745 Total WarnerMedia 35,259 24,172 11,087 589 10,498 161 10,659 Latin America Vrio 4,094 3,378 716 660 56 27 83 Mexico 2,869 3,085 (216) 502 (718) — (718) Total Latin America 6,963 6,463 500 1,162 (662) 27 (635) Segment Total 152,191 94,930 57,261 17,610 39,651 $ 188 $ 39,839 Corporate and Other Corporate 1 2,203 3,509 (1,306) 645 (1,951) Video 32,124 27,275 4,849 2,461 2,388 Acquisition-related items (72) 960 (1,032) 7,460 (8,492) Certain significant items — 2,082 (2,082) 43 (2,125) Eliminations and consolidations (5,253) (3,735) (1,518) (2) (1,516) AT&T Inc. $ 181,193 $ 125,021 $ 56,172 $ 28,217 $ 27,955 1 Operations and Support Expenses include $1,934 for the reclassification of prior service credit amortization. For the year ended December 31, 2018 Revenues Operations EBITDA Depreciation Operating Equity in Net Segment Communications Mobility $ 70,521 $ 40,690 $ 29,831 $ 8,263 $ 21,568 $ — $ 21,568 Business Wireline 26,494 16,012 10,482 4,704 5,778 — 5,778 Consumer Wireline 13,108 7,596 5,512 2,623 2,889 — 2,889 Total Communications 110,123 64,298 45,825 15,590 30,235 — 30,235 WarnerMedia Turner 6,979 3,794 3,185 131 3,054 54 3,108 Home Box Office 3,598 2,187 1,411 56 1,355 29 1,384 Warner Bros. 8,703 7,130 1,573 96 1,477 (28) 1,449 Eliminations and other 1,305 168 1,137 28 1,109 (30) 1,079 Total WarnerMedia 20,585 13,279 7,306 311 6,995 25 7,020 Latin America Vrio 4,784 3,743 1,041 728 313 34 347 Mexico 2,868 3,415 (547) 510 (1,057) — (1,057) Total Latin America 7,652 7,158 494 1,238 (744) 34 (710) Segment Total 138,360 84,735 53,625 17,139 36,486 $ 59 $ 36,545 Corporate and Other Corporate 1 2,481 2,502 (21) 1,637 (1,658) Video 33,363 28,856 4,507 2,698 1,809 Acquisition-related items (49) 1,185 (1,234) 6,931 (8,165) Certain significant items — 899 (899) 26 (925) Eliminations and consolidations (3,399) (1,947) (1,452) (1) (1,451) AT&T Inc. $ 170,756 $ 116,230 $ 54,526 $ 28,430 $ 26,096 1 Operations and Support Expenses include $1,753 for the reclassification of prior service credit amortization. |
Reconciliation of Segment Contributions to Income Before Income Taxes | The following table is a reconciliation of operating income (loss) to “Income Before Income Taxes” reported in our consolidated statements of income: 2020 2019 2018 Communications $ 28,313 $ 29,815 $ 30,235 WarnerMedia 8,210 10,659 7,020 Latin America (729) (635) (710) Segment Contribution 35,794 39,839 36,545 Reconciling Items: Corporate and Other (2,308) (1,951) (1,658) Video 2,174 2,388 1,809 Merger and integration items (468) (1,032) (1,234) Amortization of intangibles acquired (8,012) (7,460) (6,931) Impairments and abandonments (18,880) (1,458) (46) Gain on spectrum transaction 1 900 — — Employee separation charges and benefit-related (gain) loss (1,177) (624) (587) Other noncash charges (credits), net (13) (43) (111) Natural disaster items — — (181) Segment equity in net income of affiliates (42) (188) (59) Eliminations and consolidations (1,563) (1,516) (1,451) AT&T Operating Income 6,405 27,955 26,096 Interest Expense 7,925 8,422 7,957 Equity in net income (loss) of affiliates 95 6 (48) Other income (expense) - net (1,431) (1,071) 6,782 Income (Loss) Before Income Taxes $ (2,856) $ 18,468 $ 24,873 1 Included as a reduction of “Selling, general and administrative expenses” in the consolidated statements of income. |
Schedule of Revenues Earned from Customers and Property, Plant and Equipment by Geographical Areas | The following table sets forth revenues earned from customers, and property, plant and equipment located in different geographic areas: 2020 2019 2018 Revenues Net Property, Plant & Equipment Revenues Net Property, Plant & Equipment Revenues Net Property, United States $ 155,899 $ 121,208 $ 161,689 $ 122,567 $ 154,795 $ 123,457 Europe 5,387 1,152 6,536 1,854 4,073 1,634 Mexico 2,862 3,530 3,198 3,648 3,100 3,467 Brazil 1,807 694 2,797 1,057 2,724 1,213 All other Latin America 2,679 485 3,219 544 3,055 1,217 Asia/Pacific Rim 2,322 203 2,793 390 2,214 408 Other 804 43 961 68 795 77 Total $ 171,760 $ 127,315 $ 181,193 $ 130,128 $ 170,756 $ 131,473 |
Schedule of Intersegment Revenues, Assets, Investments in Equity Affiliates, and Capital Expenditures by Segment | The following tables present intersegment revenues, assets, investments in equity affiliates and capital expenditures by segment: Intersegment Reconciliation 2020 2019 2018 Intersegment revenues Communications $ 11 $ 26 $ 13 WarnerMedia 3,183 3,318 1,875 Latin America — — — Total Intersegment Revenues 3,194 3,344 1,888 Consolidations 1,986 1,909 1,511 Eliminations and consolidations $ 5,180 $ 5,253 $ 3,399 At or for the years ended December 31, 2020 2019 Assets Investments in Capital Assets Investments in Capital Communications 1 $ 506,102 $ — $ 14,107 $ 492,649 $ — $ 17,410 WarnerMedia 148,037 1,123 699 140,376 3,011 1,205 Latin America 15,811 590 708 20,606 650 757 Corporate and eliminations 1 (144,189) 67 161 (101,962) 34 263 Total $ 525,761 $ 1,780 $ 15,675 $ 551,669 $ 3,695 $ 19,635 1 Amounts above have been updated to reflect the classification of our Video business as held-for-sale (beginning in the first quarter of 2021), which included the recast of historical results to remove Video from our Communications segment and instead report in Corporate and Other. |
Revenue Recognition (Tables)
Revenue Recognition (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
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. Intercompany transactions between segments and the dual reporting of certain advertising revenues are included in “Eliminations and consolidations.” Intercompany transactions between Turner, Home Box Office and Warner Bros., including internal sales to HBO Max that began in the fourth quarter of 2019, are included in “Eliminations and Other.” For the year ended December 31, 2020 Service Revenues Wireless Business Advanced Legacy Voice & Data Subscription Content Advertising Other Equipment Total Communications Mobility $ 55,251 $ — $ — $ — $ — $ — $ 291 $ — $ 17,022 $ 72,564 Business Wireline — 24,313 — — — — — — 770 25,083 Consumer Wireline — — 8,534 2,213 — — — 1,564 7 12,318 WarnerMedia Turner — — — — 7,613 759 3,941 255 — 12,568 Home Box Office — — — — 6,090 692 — 26 — 6,808 Warner Bros. — — — — 50 11,632 6 466 — 12,154 Eliminations and Other 1 — — — — 12 (3,264) 2,178 (14) — (1,088) Latin America Vrio — — — — 3,154 — — — — 3,154 Mexico 1,656 — — — — — — — 906 2,562 Corporate and Other 528 321 — 554 26,747 — 1,718 661 288 30,817 Eliminations and consolidations 2 — — — — (3,110) — (1,718) (352) — (5,180) Total Operating Revenues $ 57,435 $ 24,634 $ 8,534 $ 2,767 $ 40,556 $ 9,819 $ 6,416 $ 2,606 $ 18,993 $ 171,760 1 Eliminations and other of $3,264 include Warner Bros. content sales of approximately $2,250 with HBO Max, $600 with HBO linear and $300 with Turner. 2 Eliminations and consolidations of $3,110 include approximately $1,500 and $950 of Turner and HBO linear channel distribution arrangements with the Video business, respectively. HBO customer subscriptions were approximately $290 with Mobility and $180 with Consumer Wireline. For the year ended December 31, 2019 Service Revenues Wireless Business Advanced Legacy Voice & Data Subscription Content Advertising Other Equipment Total Communications Mobility $ 55,039 $ — $ — $ — $ — $ — $ 292 $ — $ 15,725 $ 71,056 Business Wireline — 25,116 — — — — — — 785 25,901 Consumer Wireline — — 8,403 2,573 — — — 2,029 7 13,012 WarnerMedia Turner — — — — 7,736 481 4,566 339 — 13,122 Home Box Office — — — — 5,814 925 — 10 — 6,749 Warner Bros. — — — — 88 13,532 41 697 — 14,358 Eliminations and Other 1 — — — — 13 (1,058) 2,071 4 — 1,030 Latin America Vrio — — — — 4,094 — — — — 4,094 Mexico 1,863 — — — — — — — 1,006 2,869 Corporate and Other 628 325 — 565 30,451 — 1,672 443 171 34,255 Eliminations and consolidations 2 — — — — (3,249) — (1,672) (332) — (5,253) Total Operating Revenues $ 57,530 $ 25,441 $ 8,403 $ 3,138 $ 44,947 $ 13,880 $ 6,970 $ 3,190 $ 17,694 $ 181,193 1 Eliminations and other of $1,058 include Warner Bros. content sales of approximately $500 with HBO linear and $350 with Turner. 2 Eliminations and consolidations of $3,249 include approximately $1,740 and $1,320 of Turner and HBO linear channel distribution arrangements with the Video business, respectively. For the year ended December 31, 2018 Service Revenues Wireless Business Advanced Legacy Voice & Data Subscription Content Advertising Other Equipment Total Communications Mobility $ 54,063 $ — $ — $ — $ — $ — $ 232 $ — $ 16,226 $ 70,521 Business Wireline — 25,671 — — — — — — 823 26,494 Consumer Wireline — — 7,956 3,042 — — — 2,101 9 13,108 WarnerMedia Turner — — — — 4,207 295 2,330 147 — 6,979 Home Box Office — — — — 3,201 391 — 6 — 3,598 Warner Bros. — — — — 47 8,216 53 387 — 8,703 Eliminations and Other 1 — — — — 6 (518) 1,807 10 — 1,305 Latin America Vrio — — — — 4,784 — — — — 4,784 Mexico 1,701 — — — — — — — 1,167 2,868 Corporate and Other 718 395 — 288 31,768 — 1,595 845 186 35,795 Eliminations and consolidations 2 — — — — (1,843) — (1,595) 39 — (3,399) Total Operating Revenues $ 56,482 $ 26,066 $ 7,956 $ 3,330 $ 42,170 $ 8,384 $ 4,422 $ 3,535 $ 18,411 $ 170,756 1 Eliminations and other of $518 include Warner Bros. content sales of approximately $225 with HBO linear and $225 with Turner. 2 Eliminations and consolidations of $1,843 include approximately $1,000 and $700 of Turner and HBO linear channel distribution arrangements with the Video business, respectively. |
Schedule of Deferred Customer Contract Acquisition and Fulfillment Costs | The following table presents the deferred customer contract acquisition and fulfillment costs included on our consolidated balance sheets at December 31: Consolidated Balance Sheets 2020 2019 Deferred Acquisition Costs Other current assets $ 3,087 $ 2,462 Other Assets 3,198 2,991 Total deferred customer contract acquisition costs $ 6,285 $ 5,453 Deferred Fulfillment Costs Other current assets $ 4,118 $ 4,519 Other Assets 5,634 6,439 Total deferred customer contract fulfillment costs $ 9,752 $ 10,958 The following table presents amortization of deferred customer contract acquisition and fulfillment costs, which are recorded in other cost of revenues in our consolidated statements of income, for the year ended December 31: Consolidated Statements of Income 2020 2019 Deferred acquisition cost amortization $ 2,755 $ 2,174 Deferred fulfillment cost amortization 5,110 4,947 |
Schedule of Contract Assets and Liabilities | The following table presents contract assets and liabilities on our consolidated balance sheets at December 31: Consolidated Balance Sheets 2020 2019 Contract assets $ 3,501 $ 2,472 Contract liabilities 6,879 6,999 |
Acquisitions, Dispositions An_2
Acquisitions, Dispositions And Other Adjustments (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Business Combinations [Abstract] | |
Schedule of Unaudited Pro Forma Consolidated Results of Operations | The following unaudited pro forma consolidated results of operations assume that the acquisition of Time Warner was completed as of January 1, 2017. (Unaudited) 2018 2017 Total operating revenues $ 183,651 $ 188,769 Net Income Attributable to AT&T 20,814 31,380 Basic Earnings Per Share Attributable to Common Stock $ 2.86 $ 4.30 Diluted Earnings Per Share Attributable to Common Stock $ 2.85 $ 4.26 |
Property, Plant And Equipment (
Property, Plant And Equipment (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Property, Plant and Equipment [Abstract] | |
Schedule of Property, Plant and Equipment | Property, plant and equipment is summarized as follows at December 31: Lives (years) 2020 2019 Land - $ 2,571 $ 2,651 Buildings and improvements 2-44 39,418 38,924 Central office equipment 1 3-10 95,981 96,061 Cable, wiring and conduit 15-50 75,409 72,042 Satellites 14-17 908 2,489 Other equipment 3-20 90,883 94,951 Software 3-7 18,482 22,244 Under construction - 4,099 4,176 327,751 333,538 Accumulated depreciation and amortization 200,436 203,410 Property, plant and equipment - net $ 127,315 $ 130,128 1 Includes certain network software. |
Leases (Tables)
Leases (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
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: 2020 2019 Operating lease cost $ 5,896 $ 5,684 Finance lease cost: Amortization of right-of-use assets $ 287 $ 271 Interest on lease obligation 156 169 Total finance lease cost $ 443 $ 440 The following table provides supplemental cash flows information related to leases: 2020 2019 Cash Flows from Operating Activities Cash paid for amounts included in lease obligations: Operating cash flows from operating leases $ 4,852 $ 4,583 Supplemental Lease Cash Flow Disclosures Operating lease right-of-use assets obtained in exchange for new operating lease obligations $ 5,270 $ 7,818 The following tables set forth supplemental balance sheet information related to leases at December 31: 2020 2019 Operating Leases Operating lease right-of-use assets $ 24,714 $ 24,039 Accounts payable and accrued liabilities $ 3,537 3,451 Operating lease obligation 22,202 21,804 Total operating lease obligation $ 25,739 $ 25,255 Finance Leases Property, plant and equipment, at cost $ 3,586 $ 3,534 Accumulated depreciation and amortization (1,361) (1,296) Property, plant and equipment, net $ 2,225 $ 2,238 Current portion of long-term debt $ 189 $ 162 Long-term debt 1,847 1,872 Total finance lease obligation $ 2,036 $ 2,034 2020 2019 Weighted-Average Remaining Lease Term (years) Operating leases 8.5 8.4 Finance leases 9.9 10.3 Weighted-Average Discount Rate Operating leases 4.1 % 4.2 % Finance leases 8.1 % 8.4 % |
Schedule of Maturities of Operating Leases | The following table provides the expected future minimum maturities of lease obligations: Operating Leases Finance 2021 $ 4,808 $ 350 2022 4,527 333 2023 4,094 300 2024 3,560 276 2025 2,904 272 Thereafter 11,230 1,609 Total lease payments 31,123 3,140 Less: imputed interest (5,384) (1,104) Total $ 25,739 $ 2,036 |
Schedule of Maturities of Finance Leases | The following table provides the expected future minimum maturities of lease obligations: Operating Leases Finance 2021 $ 4,808 $ 350 2022 4,527 333 2023 4,094 300 2024 3,560 276 2025 2,904 272 Thereafter 11,230 1,609 Total lease payments 31,123 3,140 Less: imputed interest (5,384) (1,104) Total $ 25,739 $ 2,036 |
Goodwill And Other Intangible_2
Goodwill And Other Intangible Assets (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Summary Of Changes In Carrying Amount Of Goodwill, By Segment | The following table sets forth the changes in the carrying amounts of goodwill by operating segment: 2020 2019 Balance at Acquisitions Impairments Dispositions, Balance at Balance at Acquisitions Dispositions, Balance at Communications $ 100,234 $ — $ (8,253) $ (5) $ 91,976 $ 100,551 $ — $ (317) $ 100,234 WarnerMedia 42,345 415 — (313) 42,447 42,101 66 178 42,345 Latin America 3,662 — (2,212) (614) 836 3,718 — (56) 3,662 Total $ 146,241 $ 415 $ (10,465) $ (932) $ 135,259 $ 146,370 $ 66 $ (195) $ 146,241 |
Schedule of Amortized Intangible Assets | Our other intangible assets at December 31 are summarized as follows: 2020 2019 Other Intangible Assets Weighted-Average Life Gross Carrying Accumulated Currency Gross Carrying Accumulated Currency Amortized intangible assets: Wireless licenses 1 24.6 years $ 2,979 $ 271 $ (421) $ 2,981 $ 156 $ (243) Orbital slots 2 15.0 years 5,825 — — — — — Trademarks and trade names 37.1 years 20,016 1,518 (442) 18,359 853 (6) Distribution network 10.0 years 18,414 4,621 — 18,138 2,793 — Released television and film content 17.5 years 10,940 6,240 — 10,941 4,974 — Customer lists and relationships 9.3 years 4,100 1,645 (460) 20,304 14,773 (281) Other 21.3 years 11,311 2,615 (5) 11,427 1,843 (3) Total 22.3 years $ 73,585 $ 16,910 $ (1,328) $ 82,150 $ 25,392 $ (533) 1 Includes $1,561 of wireless license renewals in Mexico in 2019. 2 Changed from indefinite-lived January 1, 2020. |
Schedule of Indefinite-Life Intangible Assets Not Subject to Amortization | Indefinite-lived intangible assets not subject to amortization, net of currency translation adjustment: Licenses: Wireless licenses $ 85,728 $ 83,623 Orbital slots 1 — 11,702 Trade names 5,241 6,067 Total $ 90,969 $ 101,392 1 Changed to amortized January 1, 2020. |
Equity Method Investments (Tabl
Equity Method Investments (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Equity Method Investments and Joint Ventures [Abstract] | |
Reconciliation of Investments In Equity Affiliates | The following table is a reconciliation of our investments in equity affiliates as presented on our consolidated balance sheets: 2020 2019 Beginning of year $ 3,695 $ 6,245 Additional investments 178 448 Acquisition of remaining interest in HBO LAG (1,141) — Disposition of CME (749) — Disposition of Hudson Yards — (1,681) Disposition of Hulu — (689) Disposition of Game Show Network — (288) Equity in net income (loss) of affiliates 95 6 Dividends and distributions received (133) (301) Currency translation adjustments (10) (10) Impairments (146) — Other adjustments (9) (35) End of year $ 1,780 $ 3,695 |
Inventories And Theatrical Fi_2
Inventories And Theatrical Film And Television Production Costs (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Inventory Disclosure [Abstract] | |
Inventories and Theatrical Film and Television Production Costs | The following table summarizes inventories and theatrical film and television production costs as of December 31: 2020 2019 Inventories: Programming costs, less amortization 1 $ 6,010 $ 4,151 Other inventory, primarily DVD and Blu-ray Discs 103 96 Total inventories 6,113 4,247 Less: current portion of inventory (103) (96) Total noncurrent inventories 6,010 4,151 Theatrical film production costs: 2 Released, less amortization 487 392 Completed and not released 616 437 In production 1,130 1,475 Development and pre-production 190 171 Television production costs: 2 Released, less amortization 2,495 2,199 Completed and not released 1,381 1,344 In production 2,353 2,208 Development and pre-production 90 57 Total theatrical film and television production costs 8,742 8,283 Total noncurrent inventories and theatrical film and television production costs $ 14,752 $ 12,434 1 Includes the costs of certain programming rights, primarily sports, for which payments have been made prior to the related rights being received. 2 Does not include $4,699 and $5,967 of acquired film and television library intangible assets as of December 31, 2020, and 2019, respectively, which are included in “Other Intangible Assets – Net” on our consolidated balance sheets. |
Debt (Tables)
Debt (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Debt Disclosure [Abstract] | |
Summary of Long-Term Debt of AT&T and its Subsidiaries | Long-term debt of AT&T and its subsidiaries, including interest rates and maturities, is summarized as follows at December 31: 2020 2019 Notes and debentures Interest Rates Maturities 1 0.98% - 2.99% 2020 - 2039 $ 25,549 $ 17,404 3.00% - 4.99% 2020 - 2050 110,317 102,595 5.00% - 6.99% 2020 - 2095 24,259 34,513 7.00% - 9.15% 2020 - 2097 5,006 5,050 Credit agreement borrowings 300 4,969 Fair value of interest rate swaps recorded in debt 20 26 165,451 164,557 Unamortized (discount) premium - net (9,710) (2,996) Unamortized issuance costs (532) (452) Total notes and debentures 155,209 161,109 Finance lease obligations 2,036 2,034 Total long-term debt, including current maturities 157,245 163,143 Current maturities of long-term debt (3,470) (11,834) Total long-term debt $ 153,775 $ 151,309 1 Maturities assume putable debt is redeemed by the holders at the next opportunity. |
Debt Maturing Within One Year | Debt maturing within one year consisted of the following at December 31: 2020 2019 Current maturities of long-term debt $ 3,470 $ 11,834 Bank borrowings 1 — 4 Total $ 3,470 $ 11,838 1 Outstanding balance of short-term credit facility of a foreign subsidiary. |
Long-Term Debt - Scheduled Repayments | Maturities of outstanding long-term notes and debentures, as of December 31, 2020, and the corresponding weighted-average interest rate scheduled for repayment are as follows: 2021 2022 2023 2024 2025 Thereafter Debt repayments 1 $ 3,418 $ 5,951 $ 7,779 $ 7,849 $ 6,389 $ 134,268 Weighted-average interest rate 3.8 % 3.3 % 3.4 % 3.3 % 3.9 % 4.2 % 1 Debt repayments represent maturity value and assume putable debt is redeemed at the next opportunity. Foreign debt includes the impact from hedges, when applicable. |
Fair Value Measurements And D_2
Fair Value Measurements And Disclosure (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Fair Value Disclosures [Abstract] | |
Long-Term Debt and Other Financial Instruments | The carrying amounts and estimated fair values of our long-term debt, including current maturities, and other financial instruments, are summarized as follows: December 31, 2020 December 31, 2019 Carrying Fair Carrying Fair Notes and debentures 1 $ 155,209 $ 187,224 $ 161,109 $ 182,124 Bank borrowings — — 4 4 Investment securities 2 3,249 3,249 3,723 3,723 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 December 31, 2020, and December 31, 2019. Derivatives designated as hedging instruments are reflected as “Other assets,” “Other noncurrent liabilities,” “Other current assets” and “Accounts payable and accrued liabilities” on our consolidated balance sheets. December 31, 2020 Level 1 Level 2 Level 3 Total Equity Securities Domestic equities $ 1,010 $ — $ — $ 1,010 International equities 180 — — 180 Fixed income equities 236 — — 236 Available-for-Sale Debt Securities — 1,479 — 1,479 Asset Derivatives Cross-currency swaps — 1,721 — 1,721 Foreign exchange contracts — 6 — 6 Liability Derivatives Cross-currency swaps — (1,814) — (1,814) Foreign exchange contracts — (9) — (9) December 31, 2019 Level 1 Level 2 Level 3 Total Equity Securities Domestic equities $ 844 $ — $ — $ 844 International equities 183 — — 183 Fixed income equities 229 — — 229 Available-for-Sale Debt Securities — 1,444 — 1,444 Asset Derivatives Interest rate swaps — 2 — 2 Cross-currency swaps — 172 — 172 Interest rate locks — 11 — 11 Foreign exchange contracts — 89 — 89 Liability Derivatives Cross-currency swaps — (3,187) — (3,187) Interest rate locks — (95) — (95) |
Components Comprising Total Gains and Losses on Equity Securities | The components comprising total gains and losses in the period on equity securities are as follows: For the years ended December 31, 2020 2019 2018 Total gains (losses) recognized on equity securities $ 171 $ 301 $ (130) Gains (losses) recognized on equity securities sold (25) 100 (10) Unrealized gains (losses) recognized on equity securities held at end of period $ 196 $ 201 $ (120) |
Notional Amount of Outstanding Derivative Positions | Following are the notional amounts of our outstanding derivative positions at December 31: 2020 2019 Interest rate swaps $ — $ 853 Cross-currency swaps 40,745 42,325 Interest rate locks — 3,500 Foreign exchange contracts 90 269 Total $ 40,835 $ 46,947 |
Effect on Derivatives on the Consolidated Statements of Income | Following are the related hedged items affecting our financial position and performance: Effect of Derivatives on the Consolidated Statements of Income Fair Value Hedging Relationships For the years ended December 31, 2020 2019 2018 Interest rate swaps (Interest expense): Gain (Loss) on interest rate swaps $ (6) $ 58 $ (12) Gain (Loss) on long-term debt 6 (58) 12 Cash Flow Hedging Relationships For the years ended December 31, 2020 2019 2018 Cross-currency swaps: Gain (Loss) recognized in accumulated OCI $ (378) $ (1,066) $ (825) Foreign exchange contracts: Gain (Loss) recognized in accumulated OCI 3 10 51 Other income (expense) - net reclassified from accumulated OCI into income (3) 6 39 Interest rate locks: Gain (Loss) recognized in accumulated OCI (648) (84) — Interest income (expense) reclassified from accumulated OCI into income (84) (63) (58) |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Income Tax Disclosure [Abstract] | |
Components Of Deferred Tax Liabilities (Assets) | Significant components of our deferred tax liabilities (assets) are as follows at December 31: 2020 2019 Depreciation and amortization $ 46,952 $ 44,896 Licenses and nonamortizable intangibles 13,930 17,355 Employee benefits (5,279) (5,143) Deferred fulfillment costs 2,691 3,050 Net operating loss and other carryforwards (7,355) (7,301) Other – net 4,562 1,536 Subtotal 55,501 54,393 Deferred tax assets valuation allowance 4,773 4,941 Net deferred tax liabilities $ 60,274 $ 59,334 Noncurrent deferred tax liabilities $ 60,472 $ 59,502 Less: Noncurrent deferred tax assets (198) (168) Net deferred tax liabilities $ 60,274 $ 59,334 |
Changes in Unrecognized Tax Benefits Balance | A reconciliation of the change in our UTB balance from January 1 to December 31 for 2020 and 2019 is as follows: Federal, State and Foreign Tax 2020 2019 Balance at beginning of year $ 10,979 $ 10,358 Increases for tax positions related to the current year 1,580 903 Increases for tax positions related to prior years 112 1,106 Decreases for tax positions related to prior years (994) (1,283) Lapse of statute of limitations (24) (32) Settlements (1,646) (283) Current year acquisitions — 205 Foreign currency effects (6) 5 Balance at end of year 10,001 10,979 Accrued interest and penalties 2,450 2,708 Gross unrecognized income tax benefits 12,451 13,687 Less: Deferred federal and state income tax benefits (878) (886) Less: Tax attributable to timing items included above (3,588) (4,320) Total UTB that, if recognized, would impact the effective income tax rate as of the end of the year $ 7,985 $ 8,481 |
Components of Income Tax Expense (Benefit) | The components of income tax (benefit) expense are as follows: 2020 2019 2018 Federal: Current $ (687) $ 584 $ 3,258 Deferred 1,039 1,656 277 352 2,240 3,535 State and local: Current (6) 603 513 Deferred 263 144 473 257 747 986 Foreign: Current 413 605 539 Deferred (57) (99) (140) 356 506 399 Total $ 965 $ 3,493 $ 4,920 |
Schedule of Income before Income Tax, Domestic and Foreign | “Income Before Income Taxes” in the Consolidated Statements of Income included the following components for the years ended December 31: 2020 2019 2018 U.S. income (loss) before income taxes $ (452) $ 18,301 $ 25,379 Foreign income (loss) before income taxes (2,404) 167 (506) Total $ (2,856) $ 18,468 $ 24,873 |
Reconciliation of Income Tax Expense (Benefit) Based on Federal Statutory Rate to Amount Per Effective Tax Rate | A reconciliation of income tax expense (benefit) and the amount computed by applying the statutory federal income tax rate of 21% to income from continuing operations before income taxes is as follows: 2020 2019 2018 Taxes computed at federal statutory rate $ (600) $ 3,878 $ 5,223 Increases (decreases) in income taxes resulting from: State and local income taxes - net of federal income tax benefit 193 611 738 Enactment date and measurement period adjustments from the Act — — (718) Tax on foreign investments (141) (115) (466) Noncontrolling interest (285) (230) (121) Permanent items and R&D credit (239) (285) (189) Audit resolutions (112) (156) 544 Divestitures 107 — — Goodwill impairment 1 2,120 — — Other - net (78) (210) (91) Total $ 965 $ 3,493 $ 4,920 Effective Tax Rate (33.8) % 18.9 % 19.8 % 1 Goodwill impairments are not deductible for tax purposes. |
Pension And Postretirement Be_2
Pension And Postretirement Benefits (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Defined Benefit Plan, Plan Assets, Description [Abstract] | |
Schedule of Plan Obligations in Excess of Plan Assets | The following table presents the change in the projected benefit obligation for the years ended December 31: Pension Benefits Postretirement Benefits 2020 2019 2020 2019 Benefit obligation at beginning of year $ 59,873 $ 55,439 $ 16,041 $ 19,378 Service cost - benefits earned during the period 1,029 1,019 53 71 Interest cost on projected benefit obligation 1,687 1,960 416 675 Amendments (340) — (2,655) (4,590) Actuarial (gain) loss 5,054 7,734 1,423 2,050 Special termination benefits — 81 — — Benefits paid (5,124) (6,356) (1,370) (1,543) Curtailment (1) — — — Plan transfers (20) (4) 20 — Benefit obligation at end of year $ 62,158 $ 59,873 $ 13,928 $ 16,041 The following table presents the change in the fair value of plan assets for the years ended December 31 and the plans’ funded status at December 31: Pension Benefits Postretirement Benefits 2020 2019 2020 2019 Fair value of plan assets at beginning of year $ 53,530 $ 51,681 $ 4,145 $ 4,277 Actual return on plan assets 6,199 8,207 302 609 Benefits paid 1 (5,124) (6,356) (1,029) (941) Contributions 2 2 425 200 Plan transfers (1) (4) — — Fair value of plan assets at end of year 54,606 53,530 3,843 4,145 Unfunded status at end of year 2 $ (7,552) $ (6,343) $ (10,085) $ (11,896) 1 At our discretion, certain postretirement benefits may be paid from our cash accounts, which does not reduce Voluntary Employee Benefit Association (VEBA) assets. Future benefit payments may be made from VEBA trusts and thus reduce those asset balances. 2 Funded status is not indicative of our ability to pay ongoing pension benefits or of our obligation to fund retirement trusts. Required pension funding is determined in accordance with the Employee Retirement Income Security Act of 1974, as amended (ERISA) and applicable regulations. Amounts recognized on our consolidated balance sheets at December 31 are listed below: Pension Benefits Postretirement Benefits 2020 2019 2020 2019 Current portion of employee benefit obligation 1 $ — $ — $ (1,213) $ (1,365) Employee benefit obligation 2 (7,552) (6,343) (8,872) (10,531) Net amount recognized $ (7,552) $ (6,343) $ (10,085) $ (11,896) 1 Included in “Accounts payable and accrued liabilities.” 2 Included in “Postemployment benefit obligation,” combined with international pension obligations and other postemployment obligations of $553 and $1,299 at December 31, 2020, respectively. |
Schedule Of Defined Benefit Plan And Postretirement Benefits Disclosure | The following table presents the components of net periodic benefit cost (credit): Pension Benefits 1 Postretirement Benefits 2020 2019 2018 2020 2019 2018 Service cost – benefits earned during the period $ 1,029 $ 1,019 $ 1,116 $ 53 $ 71 $ 109 Interest cost on projected benefit obligation 1,687 1,960 2,092 416 675 778 Expected return on assets (3,557) (3,561) (3,190) (178) (227) (304) Amortization of prior service credit (113) (113) (115) (2,329) (1,820) (1,635) Actuarial (gain) loss 2,404 3,088 (812) 1,299 1,670 (2,290) Net pension and postretirement cost (credit) $ 1,450 $ 2,393 $ (909) $ (739) $ 369 $ (3,342) 1 Net periodic pension cost (credit) excludes immediate cost recognized due to special events: curtailment gain of ($1) in 2020 and special termination benefits of $81 in 2019. Other Changes in Benefit Obligations Recognized in Other Comprehensive Income The following table presents the after-tax changes in benefit obligations recognized in OCI and the after-tax prior service credits that were amortized from OCI into net periodic benefit costs: Pension Benefits Postretirement Benefits 2020 2019 2018 2020 2019 2018 Balance at beginning of year $ 361 $ 447 $ 571 $ 8,171 $ 6,086 $ 6,456 Prior service (cost) credit 250 — (37) 2,001 3,457 864 Amortization of prior service credit (86) (86) (87) (1,756) (1,372) (1,234) Total recognized in other comprehensive (income) loss 164 (86) (124) 245 2,085 (370) Balance at end of year $ 525 $ 361 $ 447 $ 8,416 $ 8,171 $ 6,086 |
Schedule of Assumptions in Determining the Projected Benefit Obligation and Net Pension and Postretirement Benefit Cost | In determining the projected benefit obligation and the net pension and postretirement benefit cost, we used the following significant weighted-average assumptions: Pension Benefits Postretirement Benefits 2020 2019 2018 2020 2019 2018 Weighted-average discount rate for determining benefit obligation at December 31 2.70 % 3.40 % 4.50 % 2.40 % 3.20 % 4.40 % Discount rate in effect for determining service cost 1, 2 3.60 % 4.10 % 4.20 % 3.50 % 4.40 % 4.30 % Discount rate in effect for determining interest cost 1,2 2.90 % 3.50 % 3.80 % 2.70 % 3.70 % 3.60 % Weighted-average interest credit rate for cash balance pension programs 3 3.10 % 3.30 % 3.70 % — % — % — % Long-term rate of return on plan assets 7.00 % 7.00 % 7.00 % 4.75 % 5.75 % 5.75 % Composite rate of compensation increase for determining benefit obligation 3.00 % 3.00 % 3.00 % 3.00 % 3.00 % 3.00 % Composite rate of compensation increase for determining net cost (benefit) 3.00 % 3.00 % 3.00 % 3.00 % 3.00 % 3.00 % 1 Weighted-average discount rate for pension benefits in effect from January 1, 2019 through March 31, 2019 was 4.60% for service cost and 4.20% for interest cost, from April 1, 2019 through June 30, 2019 was 4.30% for service cost and 3.70% for interest cost, from July 1, 2019 through September 30, 2019 was 3.90% for service cost and 3.20% for interest cost, and, from October 1, 2019 through December 31, 2019 was 3.50% for service cost and 3.00% for interest cost. 2 Weighted-average discount rate for postretirement benefits in effect from January 1, 2019 through October 1, 2019 was 4.70% for service cost and 4.00% for interest cost, and, from October 2, 2019 through December 31, 2019 was 3.40% for service cost and 2.70% for interest cost. 3 Weighted-average interest crediting rates for cash balance pension programs relate only to the cash balance portion of total pension benefits. A 0.50% increase in the weighted-average interest crediting rate would increase the pension benefit obligation by $130. |
Schedule of Defined Benefit Plan Targeted and Actual Plan Asset Allocations | The plans’ weighted-average asset targets and actual allocations as a percentage of plan assets, including the notional exposure of future contracts by asset categories at December 31 are as follows: Pension Assets Postretirement (VEBA) Assets Target 2020 2019 Target 2020 2019 Equity securities: Domestic 16 % - 26 % 19 % 17 % 14 % - 24 % 19 % 20 % International 10 % - 20 % 15 12 9 % - 19 % 14 12 Fixed income securities 37 % - 47 % 35 35 40 % - 50 % 45 52 Real assets 8 % - 18 % 8 9 — % - 6 % 1 1 Private equity 5 % - 15 % 9 8 — % - 6 % 1 2 Preferred interest 6 % - 16 % 10 17 — % - — % — — Other — % - 5 % 4 2 15 % - 25 % 20 13 Total 100 % 100 % 100 % 100 % |
Schedule of Fair Value of Pension and Postretirement Assets and Liabilities by Level | The following tables set forth by level, within the fair value hierarchy, the pension and postretirement assets and liabilities at fair value as of December 31, 2020: Pension Assets and Liabilities at Fair Value as of December 31, 2020 Level 1 Level 2 Level 3 Total Non-interest bearing cash $ 173 $ — $ — $ 173 Interest bearing cash 7 — — 7 Foreign currency contracts — 3 — 3 Equity securities: Domestic equities 9,784 — 11 9,795 International equities 4,821 11 12 4,844 Preferred interest — — 5,771 5,771 Fixed income securities: Corporate bonds and other investments — 11,043 52 11,095 Government and municipal bonds — 6,039 — 6,039 Mortgage-backed securities — 442 1 443 Real estate and real assets — — 2,544 2,544 Securities lending collateral 621 1,435 — 2,056 Receivable for variation margin 23 — — 23 Assets at fair value 15,429 18,973 8,391 42,793 Investments sold short and other liabilities at fair value (450) (8) (1) (459) Total plan net assets at fair value $ 14,979 $ 18,965 $ 8,390 $ 42,334 Assets held at net asset value practical expedient Private equity funds 5,154 Real estate funds 1,694 Commingled funds 7,706 Total assets held at net asset value practical expedient 14,554 Other assets (liabilities) 1 (2,282) Total Plan Net Assets $ 54,606 1 Other assets (liabilities) include amounts receivable, accounts payable and net adjustment for securities lending payable. Postretirement Assets and Liabilities at Fair Value as of December 31, 2020 Level 1 Level 2 Level 3 Total Interest bearing cash $ 497 $ 302 $ — $ 799 Equity securities: Domestic equities 363 — — 363 International equities 282 — — 282 Fixed income securities: Corporate bonds and other investments 5 307 3 315 Government and municipal bonds 6 132 1 139 Mortgage-backed securities — 94 — 94 Securities lending collateral — 28 — 28 Assets at fair value 1,153 863 4 2,020 Securities lending payable and other liabilities (1) (29) — (30) Total plan net assets at fair value $ 1,152 $ 834 $ 4 $ 1,990 Assets held at net asset value practical expedient Commingled funds 1,843 Private equity 24 Real estate funds 22 Total assets held at net asset value practical expedient 1,889 Other assets (liabilities) 1 (36) Total Plan Net Assets $ 3,843 1 Other assets (liabilities) include amounts receivable and accounts payable. Pension Assets and Liabilities at Fair Value as of December 31, 2019 Level 1 Level 2 Level 3 Total Non-interest bearing cash $ 85 $ — $ — $ 85 Interest bearing cash 529 — — 529 Foreign currency contracts — 5 — 5 Equity securities: Domestic equities 8,068 — 4 8,072 International equities 3,929 11 6 3,946 Preferred interest — — 8,806 8,806 Fixed income securities: Corporate bonds and other investments — 10,469 4 10,473 Government and municipal bonds 49 6,123 — 6,172 Mortgage-backed securities — 522 2 524 Real estate and real assets — — 2,817 2,817 Securities lending collateral 103 1,658 — 1,761 Receivable for variation margin 5 — — 5 Assets at fair value 12,768 18,788 11,639 43,195 Investments sold short and other liabilities at fair value (513) (2) — (515) Total plan net assets at fair value $ 12,255 $ 18,786 $ 11,639 $ 42,680 Assets held at net asset value practical expedient Private equity funds 4,544 Real estate funds 2,062 Commingled funds 5,710 Total assets held at net asset value practical expedient 12,316 Other assets (liabilities) 1 (1,466) Total Plan Net Assets $ 53,530 1 Other assets (liabilities) include amounts receivable, accounts payable and net adjustment for securities lending payable. Postretirement Assets and Liabilities at Fair Value as of December 31, 2019 Level 1 Level 2 Level 3 Total Interest bearing cash $ 248 $ 301 $ — $ 549 Equity securities: Domestic equities 438 — — 438 International equities 265 — — 265 Fixed income securities: Corporate bonds and other investments 7 492 31 530 Government and municipal bonds 6 182 1 189 Mortgage-backed securities — 294 — 294 Securities lending collateral — 36 — 36 Assets at fair value 964 1,305 32 2,301 Securities lending payable and other liabilities — (36) — (36) Total plan net assets at fair value $ 964 $ 1,269 $ 32 $ 2,265 Assets held at net asset value practical expedient Private equity funds 66 Real estate funds 27 Commingled funds 1,797 Total assets held at net asset value practical expedient 1,890 Other assets (liabilities) 1 (10) Total Plan Net Assets $ 4,145 1 Other assets (liabilities) include amounts receivable and accounts payable. |
Summary of Changes in The Fair Value of the Level 3 Pension and Postretirement Assets | The tables below set forth a summary of changes in the fair value of the Level 3 pension and postretirement assets for the year ended December 31, 2020: Pension Assets Equities Fixed Income Funds Real Estate and Real Assets Total Balance at beginning of year $ 8,816 $ 6 $ 2,817 $ 11,639 Realized gains (losses) (150) — 255 105 Unrealized gains (losses) 3 — (178) (175) Transfers in 4 51 36 91 Transfers out — (3) — (3) Purchases 9,114 1 223 9,338 Sales (11,994) (2) (609) (12,605) Balance at end of year $ 5,793 $ 53 $ 2,544 $ 8,390 Postretirement Assets Equities Fixed Income Funds Real Estate and Real Assets Total Balance at beginning of year $ — $ 32 $ — $ 32 Transfers in — 3 — 3 Transfers out — (11) — (11) Sales — (20) — (20) Balance at end of year $ — $ 4 $ — $ 4 The tables below set forth a summary of changes in the fair value of the Level 3 pension and postretirement assets for the year ended December 31, 2019: Pension Assets Equities Fixed Income Funds Real Estate and Real Assets Total Balance at beginning of year $ 8,750 $ 4 $ 2,579 $ 11,333 Realized gains (losses) — — 64 64 Unrealized gains (losses) 58 — 45 103 Transfers in 8 5 134 147 Transfers out — (6) — (6) Purchases — 7 228 235 Sales — (4) (233) (237) Balance at end of year $ 8,816 $ 6 $ 2,817 $ 11,639 Postretirement Assets Equities Fixed Income Funds Real Estate and Real Assets Total Balance at beginning of year $ 1 $ 12 $ — $ 13 Transfers in — 28 — 28 Transfers out — (1) — (1) Sales (1) (7) — (8) Balance at end of year $ — $ 32 $ — $ 32 |
Estimated Future Benefit Payments | The following table provides expected benefit payments under our pension and postretirement plans: Pension Benefits Postretirement Benefits 2021 $ 5,391 $ 1,392 2022 4,597 1,231 2023 4,428 1,159 2024 4,323 879 2025 4,234 832 Years 2026 - 2030 19,646 3,651 |
Share-Based Payments (Tables)
Share-Based Payments (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Share-based Payment Arrangement [Abstract] | |
Compensation Cost | Our consolidated statements of income include the compensation cost recognized for those plans as operating expenses, as well as the associated tax benefits, which are reflected in the table below: 2020 2019 2018 Performance stock units $ 348 $ 544 $ 301 Restricted stock and stock units 290 273 153 Other nonvested stock units — 7 4 Stock options — (5) 5 Total $ 638 $ 819 $ 463 Income tax benefit $ 157 $ 202 $ 114 |
Status of Nonvested Stock Units Activity and Changes During Year | A summary of the status of our nonvested stock units as of December 31, 2020, and changes during the year then ended is presented as follows (shares in millions): Nonvested Stock Units Shares Weighted-Average Grant- Nonvested at January 1, 2020 42 $ 33.80 Granted 23 36.90 Vested (18) 35.87 Forfeited (4) 34.48 Nonvested at December 31, 2020 43 $ 34.50 |
Sales Of Receivables (Tables)
Sales Of Receivables (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Receivables [Abstract] | |
Schedule of Finance Receivables | Our equipment installment and revolving receivables programs are discussed in detail below. The following table sets forth a summary of the receivables and accounts being serviced at December 31: 2020 2019 Equipment Installment Revolving Equipment Installment Revolving Gross receivables: $ 5,565 $ 3,909 $ 4,576 $ 3,324 Balance sheet classification Accounts receivable Notes receivable 2,716 — 2,467 — Trade receivables 554 3,715 477 2,809 Other Assets Noncurrent notes and trade receivables 2,295 194 1,632 515 Outstanding portfolio of receivables derecognized from our consolidated balance sheets 7,827 5,300 9,713 4,300 Cash proceeds received, net of remittances 1 5,646 5,300 7,211 4,300 1 Represents amounts to which financial institutions remain entitled, excluding the deferred purchase price. The following table sets forth a summary of equipment installment receivables sold under this program: 2020 2019 2018 Gross receivables sold $ 7,270 $ 9,921 $ 9,391 Net receivables sold 1 7,026 9,483 8,871 Cash proceeds received 6,089 8,189 7,488 Deferred purchase price recorded 1,021 1,451 1,578 Guarantee obligation recorded 157 341 361 1 Receivables net of allowance, imputed interest and equipment trade-in right guarantees. 2020 2019 2018 Fair value of repurchased receivables $ 1,271 $ 1,418 $ 1,480 Carrying value of deferred purchase price 1,235 1,350 1,393 Gain on repurchases 1 $ 36 $ 68 $ 87 1 These gains are included in “Selling, general and administrative” in the consolidated statements of income. |
Schedule of Receivables Sold | The following table sets forth a summary of receivables sold: 2020 2019 2018 Gross receivables sold/cash proceeds received 1 $ 15,888 $ 11,989 $ — Collections reinvested under revolving agreement 14,888 7,689 — Net cash proceeds received (remitted) $ 1,000 $ 4,300 $ — Net receivables sold 2 $ 15,760 $ 11,604 $ — Obligations recorded (reversed) 271 530 — 1 Includes initial sale of receivables of $1,000 and $4,300 for 2020 and 2019, respectively. 2 Receivables net of allowance, return and incentive reserves and imputed interest. |
Additional Financial Informat_2
Additional Financial Information (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Consolidated Balance Sheets | December 31, Consolidated Balance Sheets 2020 2019 Accounts payable and accrued liabilities: Accounts payable $ 31,836 $ 29,640 Accrued payroll and commissions 2,988 3,126 Current portion of employee benefit obligation 1,415 1,528 Accrued participations and residuals 2,708 2,852 Accrued interest 2,454 2,498 Other 7,631 6,312 Total accounts payable and accrued liabilities $ 49,032 $ 45,956 |
Consolidated Statements of Income | Consolidated Statements of Income 2020 2019 2018 Advertising expense $ 5,253 $ 6,121 $ 5,100 Interest expense incurred $ 8,048 $ 8,622 $ 8,450 Capitalized interest (123) (200) (493) Total interest expense $ 7,925 $ 8,422 $ 7,957 |
Consolidated Statements of Cash Flows | The following table summarizes cash and cash equivalents and restricted cash balances contained on our consolidated balance sheets: December 31, Cash and Cash Equivalents and Restricted Cash 2020 2019 2018 2017 Cash and cash equivalents $ 9,740 $ 12,130 $ 5,204 $ 50,498 Restricted cash in Other current assets 9 69 61 6 Restricted cash in Other Assets 121 96 135 428 Cash and cash equivalents and restricted cash $ 9,870 $ 12,295 $ 5,400 $ 50,932 The following table summarizes cash paid during the periods for interest and income taxes: Consolidated Statements of Cash Flows 2020 2019 2018 Cash paid (received) during the year for: Interest $ 8,237 $ 8,693 $ 8,818 Income taxes, net of refunds 993 1,421 (354) Spectrum acquisitions 1,613 1,576 521 |
Summary Of Significant Accoun_3
Summary Of Significant Accounting Policies (Narrative) (Details) - USD ($) $ / shares in Units, $ in Millions | Jan. 01, 2020 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Jan. 01, 2019 | Jan. 01, 2018 | Dec. 31, 2017 |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||
Retained earnings | $ 37,457 | $ 57,936 | |||||
Contract asset | 3,501 | 2,472 | |||||
Deferred income tax liability | 60,472 | 59,502 | |||||
Noncontrolling interest | 17,567 | 17,713 | |||||
Operating lease liability | 25,739 | 25,255 | |||||
Operating lease right-of-use assets | 24,714 | 24,039 | |||||
Other current assets | (20,231) | (18,364) | |||||
Cash | 2,842 | ||||||
Cash and cash equivalents | 9,740 | 12,130 | $ 5,204 | $ 50,498 | |||
Equipment inventories | $ 3,592 | 2,864 | |||||
Estimated period of ultimate revenues, from initial release or from delivery of first episode (years) | 10 years | ||||||
FCC licenses - typical term (in years) | 10 years | ||||||
Estimated economic useful life | 22 years 3 months 18 days | ||||||
Amortization expense | $ 8,239 | $ 7,932 | $ 8,347 | ||||
Diluted earnings per share attributable to Common Stock (in dollars per share) | $ (0.75) | $ 1.89 | $ 2.85 | ||||
Wireless licenses | |||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||
Estimated economic useful life | 24 years 7 months 6 days | ||||||
Orbital slots | |||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||
Estimated economic useful life | 15 years | ||||||
Money Market Funds and Other Cash Equivalents | |||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||
Cash equivalents | $ 6,898 | ||||||
Foreign Jurisdictions | |||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||
Cash and cash equivalents | $ 2,205 | ||||||
Minimum | Software | |||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||
Amortization period for capitalized software costs | 3 years | ||||||
Maximum | Software | |||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||
Amortization period for capitalized software costs | 7 years | ||||||
Mexico | Wireless licenses | |||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||
Estimated economic useful life | 25 years | ||||||
Communications | Orbital slots | Intangible Assets, Amortization Period | |||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||
Estimated economic useful life | 15 years | ||||||
Amortization expense | $ 1,504 | ||||||
Diluted earnings per share attributable to Common Stock (in dollars per share) | $ 0.16 | ||||||
Latin America | Trade names | Intangible Assets, Amortization Period | |||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||
Estimated economic useful life | 15 years | ||||||
ASU 2016-13 | |||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||
Retained earnings | $ (293) | ||||||
Allowance for credit loss | 395 | ||||||
Contract asset | (10) | ||||||
Deferred income tax liability | (105) | ||||||
Noncontrolling interest | $ (7) | ||||||
ASU 2016-02 | |||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||
Retained earnings | $ 316 | ||||||
Operating lease liability | 22,121 | ||||||
Operating lease right-of-use assets | 22,121 | ||||||
Net Assets | 20,960 | ||||||
ASU 2019-02 | Programming Inventory Costs | |||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||
Other current assets | 2,274 | ||||||
Other assets | $ 2,274 | ||||||
ASU 2014-09 | |||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||
Retained earnings | $ 2,342 | ||||||
Contract asset | 1,737 | ||||||
Deferred income tax liability | 787 | ||||||
Noncontrolling interest | 35 | ||||||
Other assets | (239) | ||||||
Deferred contract acquisition costs | 1,454 | ||||||
Other liabilities | (212) | ||||||
ASU 2016-01 | |||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||||||
Retained earnings | $ 658 |
Earnings Per Share (Details)
Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Numerator for basic earnings per share: | |||
Net Income (Loss) | $ (3,821) | $ 14,975 | $ 19,953 |
Less: Net Income Attributable to Noncontrolling Interest | (1,355) | (1,072) | (583) |
Net Income (Loss) Attributable to AT&T | (5,176) | 13,903 | 19,370 |
Less: Preferred Stock Dividends | (193) | (3) | 0 |
Net Income (Loss) Attributable to Common Stock | (5,369) | 13,900 | 19,370 |
Dilutive potential common shares: | |||
Share-based payment 1 | 23 | 21 | 19 |
Numerator for diluted earnings per share | $ (5,346) | $ 13,921 | $ 19,389 |
Denominator for basic earnings per share: | |||
Weighted-average number of common shares outstanding (in shares) | 7,157 | 7,319 | 6,778 |
Dilutive potential common shares: | |||
Share-based payment (in shares) | 26 | 29 | 28 |
Denominator for diluted earnings per share (in shares) | 7,183 | 7,348 | 6,806 |
Basic Earnings Per Share Attributable to Common Stock (in dollars per share) | $ (0.75) | $ 1.90 | $ 2.85 |
Diluted Earnings Per Share Attributable to Common Stock (in dollars per share) | $ (0.75) | $ 1.89 | $ 2.85 |
Earnings Per Share (Narrative)
Earnings Per Share (Narrative) (Details) - USD ($) shares in Millions, $ in Millions | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2020 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items] | ||||
Repurchase of common stock | $ 5,498 | $ 2,417 | $ 609 | |
Repurchase of common stock (in shares) | 142 | |||
Stock Repurchase Program | ||||
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items] | ||||
Repurchase of common stock | $ 4,000 | |||
Repurchase of common stock (in shares) | 104.8 |
Other Comprehensive Income (Det
Other Comprehensive Income (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |||
Other comprehensive income (loss) before reclassifications | $ 647 | $ 2,635 | $ (801) |
Amounts reclassified from accumulated OCI | (1,787) | (1,414) | (1,309) |
Other comprehensive income (loss) attributable to AT&T | (1,140) | 1,221 | (2,110) |
Accumulated Other Comprehensive Income | |||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |||
Accumulated other comprehensive income, beginning balance | 5,470 | 4,249 | 7,017 |
Other comprehensive income (loss) attributable to AT&T | (1,140) | 1,221 | (2,110) |
Accumulated other comprehensive income, ending balance | 4,330 | 5,470 | 4,249 |
Accumulated Other Comprehensive Income | Amounts reclassified to retained earnings | |||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |||
Accumulated other comprehensive income, beginning balance | (658) | ||
Foreign Currency Translation Adjustment | |||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |||
Accumulated other comprehensive income, beginning balance | (3,056) | (3,084) | (2,054) |
Other comprehensive income (loss) before reclassifications | (870) | 28 | (1,030) |
Amounts reclassified from accumulated OCI | 0 | 0 | 0 |
Other comprehensive income (loss) attributable to AT&T | (870) | 28 | (1,030) |
Accumulated other comprehensive income, ending balance | (3,926) | (3,056) | (3,084) |
Foreign Currency Translation Adjustment | Amounts reclassified to retained earnings | |||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |||
Accumulated other comprehensive income, beginning balance | 0 | ||
Net Unrealized Gains (Losses) on Available-for-Sale Securities | |||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |||
Accumulated other comprehensive income, beginning balance | 48 | (2) | 660 |
Other comprehensive income (loss) before reclassifications | 78 | 50 | (4) |
Amounts reclassified from accumulated OCI | (15) | 0 | 0 |
Other comprehensive income (loss) attributable to AT&T | 63 | 50 | (4) |
Accumulated other comprehensive income, ending balance | 111 | 48 | (2) |
Net Unrealized Gains (Losses) on Available-for-Sale Securities | Amounts reclassified to retained earnings | |||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |||
Accumulated other comprehensive income, beginning balance | (658) | ||
Net Unrealized Gains (Losses) on Cash Flow Hedges | |||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |||
Accumulated other comprehensive income, beginning balance | 1,402 | ||
Other comprehensive income (loss) before reclassifications | (597) | ||
Amounts reclassified from accumulated OCI | 13 | ||
Other comprehensive income (loss) attributable to AT&T | (584) | ||
Net Unrealized Gains (Losses) on Cash Flow Hedges | Amounts reclassified to retained earnings | |||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |||
Accumulated other comprehensive income, beginning balance | 0 | ||
Net Unrealized Gains (Losses) on Cash Flow Hedges | |||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |||
Accumulated other comprehensive income, beginning balance | (37) | 818 | |
Other comprehensive income (loss) before reclassifications | (811) | (900) | |
Amounts reclassified from accumulated OCI | 69 | 45 | |
Other comprehensive income (loss) attributable to AT&T | (742) | (855) | |
Accumulated other comprehensive income, ending balance | (779) | (37) | 818 |
Defined Benefit Postretirement Plans | |||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |||
Accumulated other comprehensive income, beginning balance | 8,515 | 6,517 | 7,009 |
Other comprehensive income (loss) before reclassifications | 2,250 | 3,457 | 830 |
Amounts reclassified from accumulated OCI | (1,841) | (1,459) | (1,322) |
Other comprehensive income (loss) attributable to AT&T | 409 | 1,998 | (492) |
Accumulated other comprehensive income, ending balance | $ 8,924 | $ 8,515 | 6,517 |
Defined Benefit Postretirement Plans | Amounts reclassified to retained earnings | |||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |||
Accumulated other comprehensive income, beginning balance | $ 0 |
Segment Information (Summary Of
Segment Information (Summary Of Operating Revenues And Expenses By Segment) (Narrative) (Details) | 12 Months Ended |
Dec. 31, 2020segment | |
Segment Reporting [Abstract] | |
Number of reportable segments | 3 |
Segment Information (Summary _2
Segment Information (Summary Of Operating Revenues And Expenses By Segment) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Segment Reporting Information [Line Items] | |||
Revenues | $ 171,760 | $ 181,193 | $ 170,756 |
Operations and Support Expenses | 136,839 | 125,021 | 116,230 |
EBITDA | 34,921 | 56,172 | 54,526 |
Depreciation and Amortization | 28,516 | 28,217 | 28,430 |
Operating Income (Loss) | 6,405 | 27,955 | 26,096 |
Equity in Net Income (Loss) of Affiliates | 95 | 6 | (48) |
Income (Loss) Before Income Taxes | (2,856) | 18,468 | 24,873 |
Reclassification of prior service credit amortization | 2,442 | 1,934 | 1,753 |
Operating Segments | |||
Segment Reporting Information [Line Items] | |||
Revenues | 146,123 | 152,191 | 138,360 |
Operations and Support Expenses | 92,451 | 94,930 | 84,735 |
EBITDA | 53,672 | 57,261 | 53,625 |
Depreciation and Amortization | 17,920 | 17,610 | 17,139 |
Operating Income (Loss) | 35,752 | 39,651 | 36,486 |
Equity in Net Income (Loss) of Affiliates | 42 | 188 | 59 |
Income (Loss) Before Income Taxes | 35,794 | 39,839 | 36,545 |
Corporate | |||
Segment Reporting Information [Line Items] | |||
Revenues | 2,207 | 2,203 | 2,481 |
Operations and Support Expenses | 4,205 | 3,509 | 2,502 |
EBITDA | (1,998) | (1,306) | (21) |
Depreciation and Amortization | 310 | 645 | 1,637 |
Operating Income (Loss) | (2,308) | (1,951) | (1,658) |
Reconciling Items | |||
Segment Reporting Information [Line Items] | |||
Equity in Net Income (Loss) of Affiliates | (42) | (188) | (59) |
Video | |||
Segment Reporting Information [Line Items] | |||
Revenues | 28,610 | 32,124 | 33,363 |
Operations and Support Expenses | 24,174 | 27,275 | 28,856 |
EBITDA | 4,436 | 4,849 | 4,507 |
Depreciation and Amortization | 2,262 | 2,461 | 2,698 |
Operating Income (Loss) | 2,174 | 2,388 | 1,809 |
Acquisition-related items | |||
Segment Reporting Information [Line Items] | |||
Revenues | 0 | (72) | (49) |
Operations and Support Expenses | 468 | 960 | 1,185 |
EBITDA | (468) | (1,032) | (1,234) |
Depreciation and Amortization | 8,012 | 7,460 | 6,931 |
Operating Income (Loss) | (8,480) | (8,492) | (8,165) |
Certain significant items | |||
Segment Reporting Information [Line Items] | |||
Revenues | 0 | 0 | 0 |
Operations and Support Expenses | 19,156 | 2,082 | 899 |
EBITDA | (19,156) | (2,082) | (899) |
Depreciation and Amortization | 14 | 43 | 26 |
Operating Income (Loss) | (19,170) | (2,125) | (925) |
Eliminations and consolidations | |||
Segment Reporting Information [Line Items] | |||
Revenues | (5,180) | (5,253) | (3,399) |
Operations and Support Expenses | (3,615) | (3,735) | (1,947) |
EBITDA | (1,565) | (1,518) | (1,452) |
Depreciation and Amortization | (2) | (2) | (1) |
Operating Income (Loss) | (1,563) | (1,516) | (1,451) |
Communications | Operating Segments | |||
Segment Reporting Information [Line Items] | |||
Revenues | 109,965 | 109,969 | 110,123 |
Operations and Support Expenses | 65,436 | 64,295 | 64,298 |
EBITDA | 44,529 | 45,674 | 45,825 |
Depreciation and Amortization | 16,216 | 15,859 | 15,590 |
Operating Income (Loss) | 28,313 | 29,815 | 30,235 |
Equity in Net Income (Loss) of Affiliates | 0 | 0 | 0 |
Income (Loss) Before Income Taxes | 28,313 | 29,815 | 30,235 |
Communications | Mobility | Operating Segments | |||
Segment Reporting Information [Line Items] | |||
Revenues | 72,564 | 71,056 | 70,521 |
Operations and Support Expenses | 42,106 | 40,681 | 40,690 |
EBITDA | 30,458 | 30,375 | 29,831 |
Depreciation and Amortization | 8,086 | 8,054 | 8,263 |
Operating Income (Loss) | 22,372 | 22,321 | 21,568 |
Equity in Net Income (Loss) of Affiliates | 0 | 0 | 0 |
Income (Loss) Before Income Taxes | 22,372 | 22,321 | 21,568 |
Communications | Business Wireline | Operating Segments | |||
Segment Reporting Information [Line Items] | |||
Revenues | 25,083 | 25,901 | 26,494 |
Operations and Support Expenses | 15,303 | 15,839 | 16,012 |
EBITDA | 9,780 | 10,062 | 10,482 |
Depreciation and Amortization | 5,216 | 4,925 | 4,704 |
Operating Income (Loss) | 4,564 | 5,137 | 5,778 |
Equity in Net Income (Loss) of Affiliates | 0 | 0 | 0 |
Income (Loss) Before Income Taxes | 4,564 | 5,137 | 5,778 |
Communications | Consumer Wireline | Operating Segments | |||
Segment Reporting Information [Line Items] | |||
Revenues | 12,318 | 13,012 | 13,108 |
Operations and Support Expenses | 8,027 | 7,775 | 7,596 |
EBITDA | 4,291 | 5,237 | 5,512 |
Depreciation and Amortization | 2,914 | 2,880 | 2,623 |
Operating Income (Loss) | 1,377 | 2,357 | 2,889 |
Equity in Net Income (Loss) of Affiliates | 0 | 0 | 0 |
Income (Loss) Before Income Taxes | 1,377 | 2,357 | 2,889 |
WarnerMedia | Operating Segments | |||
Segment Reporting Information [Line Items] | |||
Revenues | 30,442 | 35,259 | 20,585 |
Operations and Support Expenses | 21,579 | 24,172 | 13,279 |
EBITDA | 8,863 | 11,087 | 7,306 |
Depreciation and Amortization | 671 | 589 | 311 |
Operating Income (Loss) | 8,192 | 10,498 | 6,995 |
Equity in Net Income (Loss) of Affiliates | 18 | 161 | 25 |
Income (Loss) Before Income Taxes | 8,210 | 10,659 | 7,020 |
WarnerMedia | Eliminations and other | |||
Segment Reporting Information [Line Items] | |||
Revenues | (1,088) | 1,030 | 1,305 |
Operations and Support Expenses | (1,320) | 304 | 168 |
EBITDA | 232 | 726 | 1,137 |
Depreciation and Amortization | 127 | 90 | 28 |
Operating Income (Loss) | 105 | 636 | 1,109 |
Equity in Net Income (Loss) of Affiliates | 74 | 109 | (30) |
Income (Loss) Before Income Taxes | 179 | 745 | 1,079 |
WarnerMedia | Turner | Operating Segments | |||
Segment Reporting Information [Line Items] | |||
Revenues | 12,568 | 13,122 | 6,979 |
Operations and Support Expenses | 6,954 | 7,740 | 3,794 |
EBITDA | 5,614 | 5,382 | 3,185 |
Depreciation and Amortization | 277 | 235 | 131 |
Operating Income (Loss) | 5,337 | 5,147 | 3,054 |
Equity in Net Income (Loss) of Affiliates | (2) | 52 | 54 |
Income (Loss) Before Income Taxes | 5,335 | 5,199 | 3,108 |
WarnerMedia | Home Box Office | Operating Segments | |||
Segment Reporting Information [Line Items] | |||
Revenues | 6,808 | 6,749 | 3,598 |
Operations and Support Expenses | 6,028 | 4,312 | 2,187 |
EBITDA | 780 | 2,437 | 1,411 |
Depreciation and Amortization | 98 | 102 | 56 |
Operating Income (Loss) | 682 | 2,335 | 1,355 |
Equity in Net Income (Loss) of Affiliates | 16 | 30 | 29 |
Income (Loss) Before Income Taxes | 698 | 2,365 | 1,384 |
WarnerMedia | Warner Bros. | Operating Segments | |||
Segment Reporting Information [Line Items] | |||
Revenues | 12,154 | 14,358 | 8,703 |
Operations and Support Expenses | 9,917 | 11,816 | 7,130 |
EBITDA | 2,237 | 2,542 | 1,573 |
Depreciation and Amortization | 169 | 162 | 96 |
Operating Income (Loss) | 2,068 | 2,380 | 1,477 |
Equity in Net Income (Loss) of Affiliates | (70) | (30) | (28) |
Income (Loss) Before Income Taxes | 1,998 | 2,350 | 1,449 |
Latin America | Operating Segments | |||
Segment Reporting Information [Line Items] | |||
Revenues | 5,716 | 6,963 | 7,652 |
Operations and Support Expenses | 5,436 | 6,463 | 7,158 |
EBITDA | 280 | 500 | 494 |
Depreciation and Amortization | 1,033 | 1,162 | 1,238 |
Operating Income (Loss) | (753) | (662) | (744) |
Equity in Net Income (Loss) of Affiliates | 24 | 27 | 34 |
Income (Loss) Before Income Taxes | (729) | (635) | (710) |
Latin America | Vrio | Operating Segments | |||
Segment Reporting Information [Line Items] | |||
Revenues | 3,154 | 4,094 | 4,784 |
Operations and Support Expenses | 2,800 | 3,378 | 3,743 |
EBITDA | 354 | 716 | 1,041 |
Depreciation and Amortization | 520 | 660 | 728 |
Operating Income (Loss) | (166) | 56 | 313 |
Equity in Net Income (Loss) of Affiliates | 24 | 27 | 34 |
Income (Loss) Before Income Taxes | (142) | 83 | 347 |
Latin America | Mexico | Operating Segments | |||
Segment Reporting Information [Line Items] | |||
Revenues | 2,562 | 2,869 | 2,868 |
Operations and Support Expenses | 2,636 | 3,085 | 3,415 |
EBITDA | (74) | (216) | (547) |
Depreciation and Amortization | 513 | 502 | 510 |
Operating Income (Loss) | (587) | (718) | (1,057) |
Equity in Net Income (Loss) of Affiliates | 0 | 0 | 0 |
Income (Loss) Before Income Taxes | $ (587) | $ (718) | $ (1,057) |
Segment Information (Reconcilia
Segment Information (Reconciliation Of Operating Income (Loss) to Consolidated Statement Of Income) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | |||
Income (Loss) Before Income Taxes | $ (2,856) | $ 18,468 | $ 24,873 |
AT&T Operating Income | 6,405 | 27,955 | 26,096 |
Amortization of intangibles acquired | (8,239) | (7,932) | (8,347) |
Impairments and abandonments | (18,880) | (1,458) | (46) |
Equity in net income (loss) of affiliates | 95 | 6 | (48) |
Interest Expense | 7,925 | 8,422 | 7,957 |
Other income (expense) - net | (1,431) | (1,071) | 6,782 |
Operating Segments | |||
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | |||
Income (Loss) Before Income Taxes | 35,794 | 39,839 | 36,545 |
AT&T Operating Income | 35,752 | 39,651 | 36,486 |
Equity in net income (loss) of affiliates | 42 | 188 | 59 |
Operating Segments | Communications | |||
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | |||
Income (Loss) Before Income Taxes | 28,313 | 29,815 | 30,235 |
AT&T Operating Income | 28,313 | 29,815 | 30,235 |
Equity in net income (loss) of affiliates | 0 | 0 | 0 |
Operating Segments | WarnerMedia | |||
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | |||
Income (Loss) Before Income Taxes | 8,210 | 10,659 | 7,020 |
AT&T Operating Income | 8,192 | 10,498 | 6,995 |
Equity in net income (loss) of affiliates | 18 | 161 | 25 |
Operating Segments | Latin America | |||
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | |||
Income (Loss) Before Income Taxes | (729) | (635) | (710) |
AT&T Operating Income | (753) | (662) | (744) |
Equity in net income (loss) of affiliates | 24 | 27 | 34 |
Corporate and Other | |||
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | |||
AT&T Operating Income | (2,308) | (1,951) | (1,658) |
Reconciling Items | |||
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | |||
Merger and integration items | (468) | (1,032) | (1,234) |
Amortization of intangibles acquired | (8,012) | (7,460) | (6,931) |
Impairments and abandonments | (18,880) | (1,458) | (46) |
Gain on spectrum transaction | 900 | 0 | 0 |
Employee separation charges and benefit-related (gain) loss | (1,177) | (624) | (587) |
Other noncash charges (credits), net | (13) | (43) | (111) |
Natural disaster items | 0 | 0 | (181) |
Equity in net income (loss) of affiliates | (42) | (188) | (59) |
Video | |||
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | |||
AT&T Operating Income | 2,174 | 2,388 | 1,809 |
Eliminations and consolidations | |||
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items] | |||
AT&T Operating Income | $ (1,563) | $ (1,516) | $ (1,451) |
Segment Information (Schedule o
Segment Information (Schedule of Schedule of Revenues Earned from Customers and Property, Plant and Equipment by Geographical Areas) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
Revenues | $ 171,760 | $ 181,193 | $ 170,756 |
Net Property, Plant & Equipment | 127,315 | 130,128 | 131,473 |
United States | |||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
Revenues | 155,899 | 161,689 | 154,795 |
Net Property, Plant & Equipment | 121,208 | 122,567 | 123,457 |
Europe | |||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
Revenues | 5,387 | 6,536 | 4,073 |
Net Property, Plant & Equipment | 1,152 | 1,854 | 1,634 |
Mexico | |||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
Revenues | 2,862 | 3,198 | 3,100 |
Net Property, Plant & Equipment | 3,530 | 3,648 | 3,467 |
Brazil | |||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
Revenues | 1,807 | 2,797 | 2,724 |
Net Property, Plant & Equipment | 694 | 1,057 | 1,213 |
All other Latin America | |||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
Revenues | 2,679 | 3,219 | 3,055 |
Net Property, Plant & Equipment | 485 | 544 | 1,217 |
Asia/Pacific Rim | |||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
Revenues | 2,322 | 2,793 | 2,214 |
Net Property, Plant & Equipment | 203 | 390 | 408 |
Other | |||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||
Revenues | 804 | 961 | 795 |
Net Property, Plant & Equipment | $ 43 | $ 68 | $ 77 |
Segment Information (Intersegme
Segment Information (Intersegment Details) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Segment Reporting Information [Line Items] | |||
Total revenues | $ (171,760) | $ (181,193) | $ (170,756) |
Total Intersegment Revenues | |||
Segment Reporting Information [Line Items] | |||
Total revenues | 3,194 | 3,344 | 1,888 |
Consolidations | |||
Segment Reporting Information [Line Items] | |||
Total revenues | 1,986 | 1,909 | 1,511 |
Eliminations and consolidations | |||
Segment Reporting Information [Line Items] | |||
Total revenues | 5,180 | 5,253 | 3,399 |
Communications | Total Intersegment Revenues | |||
Segment Reporting Information [Line Items] | |||
Total revenues | 11 | 26 | 13 |
WarnerMedia | Total Intersegment Revenues | |||
Segment Reporting Information [Line Items] | |||
Total revenues | 3,183 | 3,318 | 1,875 |
Latin America | Total Intersegment Revenues | |||
Segment Reporting Information [Line Items] | |||
Total revenues | $ 0 | $ 0 | $ 0 |
Segment Information (Interseg_2
Segment Information (Intersegment Assets, Equity Affiliates Investments and Capital Expenditures Details) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Segment Reporting Information [Line Items] | |||
Assets | $ 525,761 | $ 551,669 | |
Investments in Equity Method Investees | 1,780 | 3,695 | $ 6,245 |
Capital Expenditures | 15,675 | 19,635 | $ 21,251 |
Corporate and eliminations1 | |||
Segment Reporting Information [Line Items] | |||
Assets | (144,189) | (101,962) | |
Investments in Equity Method Investees | 67 | 34 | |
Capital Expenditures | 161 | 263 | |
Communications | Operating Segments | |||
Segment Reporting Information [Line Items] | |||
Assets | 506,102 | 492,649 | |
Investments in Equity Method Investees | 0 | 0 | |
Capital Expenditures | 14,107 | 17,410 | |
WarnerMedia | Operating Segments | |||
Segment Reporting Information [Line Items] | |||
Assets | 148,037 | 140,376 | |
Investments in Equity Method Investees | 1,123 | 3,011 | |
Capital Expenditures | 699 | 1,205 | |
Latin America | Operating Segments | |||
Segment Reporting Information [Line Items] | |||
Assets | 15,811 | 20,606 | |
Investments in Equity Method Investees | 590 | 650 | |
Capital Expenditures | $ 708 | $ 757 |
Revenue Recognition (Narrative)
Revenue Recognition (Narrative) (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Revenue from Contract with Customer [Abstract] | ||
Content revenue, commencement period | 3 years | |
Contract with Customer, Asset and Liability [Abstract] | ||
Beginning of period contract liability recorded as customer contract revenue during period | $ 5,579 | |
Contract asset balance - current portion | 2,054 | $ 1,611 |
Contract liability balance - current portion | 6,071 | $ 5,939 |
Revenue, Performance Obligation [Abstract] | ||
Aggregate amount of the transaction price allocated to remaining performance obligations | $ 42,072 | |
Deferred Acquisition Costs | Minimum | ||
Capitalized Contract Cost [Line Items] | ||
Expected customer relationship life | 3 years | |
Deferred Acquisition Costs | Maximum | ||
Capitalized Contract Cost [Line Items] | ||
Expected customer relationship life | 5 years | |
Deferred Fulfillment Costs | Minimum | ||
Capitalized Contract Cost [Line Items] | ||
Expected customer relationship life | 3 years | |
Deferred Fulfillment Costs | Maximum | ||
Capitalized Contract Cost [Line Items] | ||
Expected customer relationship life | 5 years |
Revenue Recognition (Revenue Ca
Revenue Recognition (Revenue Categories) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | $ 171,760 | $ 181,193 | $ 170,756 |
Wireless | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 57,435 | 57,530 | 56,482 |
Business Service [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 24,634 | 25,441 | 26,066 |
Advanced Data | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 8,534 | 8,403 | 7,956 |
Legacy Voice & Data | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 2,767 | 3,138 | 3,330 |
Subscription | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 40,556 | 44,947 | 42,170 |
Content | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 9,819 | 13,880 | 8,384 |
Advertising | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 6,416 | 6,970 | 4,422 |
Other | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 2,606 | 3,190 | 3,535 |
Equipment | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 18,993 | 17,694 | 18,411 |
Operating Segments | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 146,123 | 152,191 | 138,360 |
Operating Segments | Communications | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 109,965 | 109,969 | 110,123 |
Operating Segments | Communications | Mobility | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 72,564 | 71,056 | 70,521 |
Operating Segments | Communications | Mobility | Wireless | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 55,251 | 55,039 | 54,063 |
Operating Segments | Communications | Mobility | Business Service [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Operating Segments | Communications | Mobility | Advanced Data | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Operating Segments | Communications | Mobility | Legacy Voice & Data | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Operating Segments | Communications | Mobility | Subscription | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Operating Segments | Communications | Mobility | Content | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Operating Segments | Communications | Mobility | Advertising | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 291 | 292 | 232 |
Operating Segments | Communications | Mobility | Other | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Operating Segments | Communications | Mobility | Equipment | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 17,022 | 15,725 | 16,226 |
Operating Segments | Communications | Video | Wireless | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | ||
Operating Segments | Communications | Video | Content | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | ||
Operating Segments | Communications | Business Wireline | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 25,083 | 25,901 | 26,494 |
Operating Segments | Communications | Business Wireline | Wireless | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Operating Segments | Communications | Business Wireline | Business Service [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 24,313 | 25,116 | 25,671 |
Operating Segments | Communications | Business Wireline | Advanced Data | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Operating Segments | Communications | Business Wireline | Legacy Voice & Data | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Operating Segments | Communications | Business Wireline | Subscription | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Operating Segments | Communications | Business Wireline | Content | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Operating Segments | Communications | Business Wireline | Advertising | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Operating Segments | Communications | Business Wireline | Other | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Operating Segments | Communications | Business Wireline | Equipment | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 770 | 785 | 823 |
Operating Segments | Communications | Consumer Wireline | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 12,318 | 13,012 | 13,108 |
Operating Segments | Communications | Consumer Wireline | Wireless | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Operating Segments | Communications | Consumer Wireline | Business Service [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Operating Segments | Communications | Consumer Wireline | Advanced Data | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 8,534 | 8,403 | 7,956 |
Operating Segments | Communications | Consumer Wireline | Legacy Voice & Data | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 2,213 | 2,573 | 3,042 |
Operating Segments | Communications | Consumer Wireline | Subscription | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Operating Segments | Communications | Consumer Wireline | Content | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Operating Segments | Communications | Consumer Wireline | Advertising | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Operating Segments | Communications | Consumer Wireline | Other | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 1,564 | 2,029 | 2,101 |
Operating Segments | Communications | Consumer Wireline | Equipment | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 7 | 7 | 9 |
Operating Segments | WarnerMedia | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 30,442 | 35,259 | 20,585 |
Operating Segments | WarnerMedia | Turner | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 12,568 | 13,122 | 6,979 |
Operating Segments | WarnerMedia | Turner | Wireless | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Operating Segments | WarnerMedia | Turner | Business Service [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Operating Segments | WarnerMedia | Turner | Advanced Data | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Operating Segments | WarnerMedia | Turner | Legacy Voice & Data | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Operating Segments | WarnerMedia | Turner | Subscription | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 7,613 | 7,736 | 4,207 |
Operating Segments | WarnerMedia | Turner | Content | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 759 | 481 | 295 |
Operating Segments | WarnerMedia | Turner | Advertising | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 3,941 | 4,566 | 2,330 |
Operating Segments | WarnerMedia | Turner | Other | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 255 | 339 | 147 |
Operating Segments | WarnerMedia | Turner | Equipment | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Operating Segments | WarnerMedia | Home Box Office | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 6,808 | 6,749 | 3,598 |
Operating Segments | WarnerMedia | Home Box Office | Wireless | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Operating Segments | WarnerMedia | Home Box Office | Business Service [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Operating Segments | WarnerMedia | Home Box Office | Advanced Data | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Operating Segments | WarnerMedia | Home Box Office | Legacy Voice & Data | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Operating Segments | WarnerMedia | Home Box Office | Subscription | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 6,090 | 5,814 | 3,201 |
Operating Segments | WarnerMedia | Home Box Office | Content | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 692 | 925 | 391 |
Operating Segments | WarnerMedia | Home Box Office | Advertising | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Operating Segments | WarnerMedia | Home Box Office | Other | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 26 | 10 | 6 |
Operating Segments | WarnerMedia | Home Box Office | Equipment | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Operating Segments | WarnerMedia | Warner Bros. | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 12,154 | 14,358 | 8,703 |
Operating Segments | WarnerMedia | Warner Bros. | Wireless | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Operating Segments | WarnerMedia | Warner Bros. | Business Service [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Operating Segments | WarnerMedia | Warner Bros. | Advanced Data | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Operating Segments | WarnerMedia | Warner Bros. | Legacy Voice & Data | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Operating Segments | WarnerMedia | Warner Bros. | Subscription | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 50 | 88 | 47 |
Operating Segments | WarnerMedia | Warner Bros. | Content | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 11,632 | 13,532 | 8,216 |
Operating Segments | WarnerMedia | Warner Bros. | Advertising | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 6 | 41 | 53 |
Operating Segments | WarnerMedia | Warner Bros. | Other | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 466 | 697 | 387 |
Operating Segments | WarnerMedia | Warner Bros. | Equipment | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Operating Segments | Latin America | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 5,716 | 6,963 | 7,652 |
Operating Segments | Latin America | Vrio | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 3,154 | 4,094 | 4,784 |
Operating Segments | Latin America | Vrio | Wireless | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Operating Segments | Latin America | Vrio | Business Service [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Operating Segments | Latin America | Vrio | Advanced Data | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Operating Segments | Latin America | Vrio | Legacy Voice & Data | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Operating Segments | Latin America | Vrio | Subscription | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 3,154 | 4,094 | 4,784 |
Operating Segments | Latin America | Vrio | Content | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Operating Segments | Latin America | Vrio | Advertising | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Operating Segments | Latin America | Vrio | Other | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Operating Segments | Latin America | Vrio | Equipment | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Operating Segments | Latin America | Mexico | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 2,562 | 2,869 | 2,868 |
Operating Segments | Latin America | Mexico | Wireless | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 1,656 | 1,863 | 1,701 |
Operating Segments | Latin America | Mexico | Business Service [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Operating Segments | Latin America | Mexico | Advanced Data | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Operating Segments | Latin America | Mexico | Legacy Voice & Data | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Operating Segments | Latin America | Mexico | Subscription | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Operating Segments | Latin America | Mexico | Content | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Operating Segments | Latin America | Mexico | Advertising | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Operating Segments | Latin America | Mexico | Other | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Operating Segments | Latin America | Mexico | Equipment | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 906 | 1,006 | 1,167 |
Eliminations and other | WarnerMedia | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | (1,088) | 1,030 | 1,305 |
Eliminations and other | WarnerMedia | Wireless | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Eliminations and other | WarnerMedia | Business Service [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Eliminations and other | WarnerMedia | Advanced Data | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Eliminations and other | WarnerMedia | Legacy Voice & Data | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Eliminations and other | WarnerMedia | Subscription | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 12 | 13 | 6 |
Eliminations and other | WarnerMedia | Content | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | (3,264) | (1,058) | (518) |
Eliminations and other | WarnerMedia | Advertising | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 2,178 | 2,071 | 1,807 |
Eliminations and other | WarnerMedia | Other | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | (14) | 4 | 10 |
Eliminations and other | WarnerMedia | Equipment | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Eliminations and other | WarnerMedia | Warner Bros. | Content sales with HBO Max | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 2,250 | ||
Eliminations and other | WarnerMedia | Warner Bros. | Content sales with HBO Linear | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 600 | 500 | 225 |
Eliminations and other | WarnerMedia | Warner Bros. | Content sales with Turner | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 300 | 350 | 225 |
Corporate and Other | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 30,817 | 34,255 | 35,795 |
Corporate and Other | Wireless | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 528 | 628 | 718 |
Corporate and Other | Business Service [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 321 | 325 | 395 |
Corporate and Other | Advanced Data | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Corporate and Other | Legacy Voice & Data | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 554 | 565 | 288 |
Corporate and Other | Subscription | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 26,747 | 30,451 | 31,768 |
Corporate and Other | Content | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Corporate and Other | Advertising | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 1,718 | 1,672 | 1,595 |
Corporate and Other | Other | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 661 | 443 | 845 |
Corporate and Other | Equipment | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 288 | 171 | 186 |
Eliminations and consolidations | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | (5,180) | (5,253) | (3,399) |
Eliminations and consolidations | Wireless | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Eliminations and consolidations | Business Service [Member] | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Eliminations and consolidations | Advanced Data | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Eliminations and consolidations | Legacy Voice & Data | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Eliminations and consolidations | Subscription | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | (3,110) | (3,249) | (1,843) |
Eliminations and consolidations | Content | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Eliminations and consolidations | Advertising | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | (1,718) | (1,672) | (1,595) |
Eliminations and consolidations | Other | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | (352) | (332) | 39 |
Eliminations and consolidations | Equipment | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 0 | 0 | 0 |
Eliminations and consolidations | Video | Turner channel distribution arrangements with Entertainment Group | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 1,500 | 1,740 | 1,000 |
Eliminations and consolidations | Video | HBO linear channel distribution arrangements with Entertainment Group | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 950 | $ 1,320 | $ 700 |
Eliminations and consolidations | Video | HBO customer subscriptions at Mobility | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | 290 | ||
Eliminations and consolidations | Consumer Wireline | HBO customer subscriptions at Mobility | |||
Disaggregation of Revenue [Line Items] | |||
Total operating revenues | $ 180 |
Revenue Recognition (Deferred C
Revenue Recognition (Deferred Contract Acquisition and Fulfillment Costs) (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Deferred Acquisition Costs | ||
Capitalized Contract Cost, Net [Abstract] | ||
Total deferred costs | $ 6,285 | $ 5,453 |
Deferred cost amortization | 2,755 | 2,174 |
Deferred Acquisition Costs | Other current assets | ||
Capitalized Contract Cost, Net [Abstract] | ||
Total deferred costs | 3,087 | 2,462 |
Deferred Acquisition Costs | Other Assets | ||
Capitalized Contract Cost, Net [Abstract] | ||
Total deferred costs | 3,198 | 2,991 |
Deferred Fulfillment Costs | ||
Capitalized Contract Cost, Net [Abstract] | ||
Total deferred costs | 9,752 | 10,958 |
Deferred cost amortization | 5,110 | 4,947 |
Deferred Fulfillment Costs | Other current assets | ||
Capitalized Contract Cost, Net [Abstract] | ||
Total deferred costs | 4,118 | 4,519 |
Deferred Fulfillment Costs | Other Assets | ||
Capitalized Contract Cost, Net [Abstract] | ||
Total deferred costs | $ 5,634 | $ 6,439 |
Revenue Recognition (Contract A
Revenue Recognition (Contract Assets and Liabilities) (Details) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Contract with Customer, Asset and Liability [Abstract] | ||
Contract assets | $ 3,501 | $ 2,472 |
Contract liabilities | $ 6,879 | $ 6,999 |
Revenue Recognition (Remaining
Revenue Recognition (Remaining Performance Obligations) (Details) | Dec. 31, 2020 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Aggregate amount of the transaction price allocated to remaining performance obligations (percentage) | 60.00% |
Expected timing of satisfaction for remaining performance obligations, period | 12 months |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Aggregate amount of the transaction price allocated to remaining performance obligations (percentage) | 40.00% |
Expected timing of satisfaction for remaining performance obligations, period |
Acquisitions, Dispositions An_3
Acquisitions, Dispositions And Other Adjustments (HBO LAG, Time Warner, Otter and AppNexus Acquisitions Narrative) (Details) - USD ($) $ in Millions | Aug. 15, 2018 | Aug. 07, 2018 | May 31, 2020 | Jun. 30, 2018 | Dec. 31, 2018 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Business Acquisition [Line Items] | ||||||||
Acquisitions, net of cash acquired | $ 1,851 | $ 1,809 | $ 43,309 | |||||
Goodwill | $ 146,370 | 135,259 | 146,241 | 146,370 | ||||
Revenues | 171,760 | 181,193 | 170,756 | |||||
Operating income | 6,405 | 27,955 | 26,096 | |||||
Intangible amortization | 8,239 | 7,932 | 8,347 | |||||
Conversion to equity of advance made in first quarter of 2018 | 160 | 365 | 1,050 | |||||
WarnerMedia | ||||||||
Business Acquisition [Line Items] | ||||||||
Goodwill | 42,101 | $ 42,447 | $ 42,345 | $ 42,101 | ||||
HBO LAG | WarnerMedia | ||||||||
Business Acquisition [Line Items] | ||||||||
Acquisitions, net of cash acquired | $ 141 | |||||||
Pre-tax remeasurement gain | 68 | |||||||
Acquisition of intangible assets, trade names | 640 | |||||||
Goodwill | 346 | |||||||
HBO LAG | WarnerMedia | Distribution Networks – Net | ||||||||
Business Acquisition [Line Items] | ||||||||
Acquisition of other intangible assets | $ 271 | |||||||
Time Warner | ||||||||
Business Acquisition [Line Items] | ||||||||
Total consideration | $ 79,358 | |||||||
Time Warner | Acquisition | ||||||||
Business Acquisition [Line Items] | ||||||||
Revenues | 18,209 | |||||||
Operating income | 1,400 | |||||||
Intangible amortization | $ 3,296 | |||||||
Otter Media | WarnerMedia | ||||||||
Business Acquisition [Line Items] | ||||||||
Acquisitions, net of cash acquired | $ 157 | |||||||
Pre-tax remeasurement gain | 395 | |||||||
Goodwill | 1,239 | |||||||
Conversion to equity of advance made in first quarter of 2018 | $ 1,480 | |||||||
AppNexus | WarnerMedia | ||||||||
Business Acquisition [Line Items] | ||||||||
Goodwill | $ 1,220 | |||||||
Total consideration | $ 1,432 |
Acquisitions, Dispositions An_4
Acquisitions, Dispositions And Other Adjustments (Pro-Forma Consolidated Results Of Operations) (Details) - Time Warner - USD ($) $ / shares in Units, $ in Millions | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items] | ||
Total operating revenues | $ 183,651 | $ 188,769 |
Net Income Attributable to AT&T | $ 20,814 | $ 31,380 |
Basic Earnings Per Share Attributable to Common Stock (in dollars per share) | $ 2.86 | $ 4.30 |
Diluted Earnings Per Share Attributable to Common Stock (in dollars per share) | $ 2.85 | $ 4.26 |
Acquisitions, Dispositions An_5
Acquisitions, Dispositions And Other Adjustments (Spectrum Auctions Narrative) (Details) - USD ($) $ in Millions | 1 Months Ended | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2020 | Dec. 31, 2019 | Jun. 30, 2020 | Mar. 31, 2020 | Jun. 30, 2020 | |
Licensing Agreements | |||||
Indefinite-lived Intangible Assets [Line Items] | |||||
Payments to acquire intangible assets | $ 2,379 | $ 949 | $ 1,186 | ||
24 GHz Licenses | |||||
Indefinite-lived Intangible Assets [Line Items] | |||||
Payments to acquire intangible assets | $ 982 | ||||
FiberTower Corporation | 39 GHz Licenses | |||||
Indefinite-lived Intangible Assets [Line Items] | |||||
Book value of indefinite-lived intangible assets | $ 300 | ||||
Gain on disposition of intangible asset | $ 900 | ||||
Value of consideration received in a noncash transaction | $ 1,200 |
Acquisitions, Dispositions An_6
Acquisitions, Dispositions And Other Adjustments (Dispositions Narrative) (Details) - USD ($) $ in Millions | Nov. 06, 2020 | Oct. 31, 2020 | Oct. 13, 2020 | Dec. 31, 2018 | Jun. 30, 2019 | Apr. 30, 2019 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Business Acquisition [Line Items] | |||||||||
Cash proceeds from sale of businesses and interest in affiliates | $ 3,641 | $ 4,684 | $ 2,148 | ||||||
Debt guarantee, original amount covered | $ 1,100 | ||||||||
Debt guarantee | $ 600 | ||||||||
Payments to redeem cumulative preferred interest in subsidiary that held notes secured by proceeds of sale | $ 1,950 | $ 0 | 0 | ||||||
CME | |||||||||
Business Acquisition [Line Items] | |||||||||
Percent of interest disposed | 65.30% | ||||||||
Cash proceeds from sale of businesses and interest in affiliates | $ 1,100 | ||||||||
Gain (loss) on sale of investment | $ 39 | ||||||||
Discontinued Operations, Disposed of by Sale | Puerto Rico And U.S. Virgin Islands Operations | |||||||||
Business Acquisition [Line Items] | |||||||||
Gain (loss) on sale of investment | $ (82) | ||||||||
Consideration for completion of sale of operations | 1,950 | ||||||||
Payments to redeem cumulative preferred interest in subsidiary that held notes secured by proceeds of sale | $ 1,950 | 1,950 | |||||||
Discontinued Operations, Disposed of by Sale | Puerto Rico And U.S. Virgin Islands Operations | Net Tax Liabilities | |||||||||
Business Acquisition [Line Items] | |||||||||
Decrease in accounts payable and accrued liabilities due to removal of held-for-sale liabilities upon disposal | 500 | ||||||||
Discontinued Operations, Disposed of by Sale | Puerto Rico And U.S. Virgin Islands Operations | FCC Licenses | |||||||||
Business Acquisition [Line Items] | |||||||||
Decrease in other current assets due to removal of held-for-sale assets upon disposal | 1,100 | ||||||||
Discontinued Operations, Disposed of by Sale | Puerto Rico And U.S. Virgin Islands Operations | Goodwill | |||||||||
Business Acquisition [Line Items] | |||||||||
Decrease in other current assets due to removal of held-for-sale assets upon disposal | 250 | ||||||||
Discontinued Operations, Disposed of by Sale | Puerto Rico And U.S. Virgin Islands Operations | Property, Plant and Equipment | |||||||||
Business Acquisition [Line Items] | |||||||||
Decrease in other current assets due to removal of held-for-sale assets upon disposal | $ 850 | ||||||||
Disposal Group, Disposed of by Sale, Not Discontinued Operations | Brookfield Infrastructure Partners | |||||||||
Business Acquisition [Line Items] | |||||||||
Gain (loss) on sale of investment | $ 432 | ||||||||
Proceeds from assets sold | 1,100 | ||||||||
Property, plant and equipment | 298 | 298 | |||||||
Goodwill | $ 215 | $ 215 | |||||||
Disposal Group, Disposed of by Sale, Not Discontinued Operations | Hudson Yards North Tower Holdings LLC | |||||||||
Business Acquisition [Line Items] | |||||||||
Cash proceeds from sale of businesses and interest in affiliates | $ 2,081 | ||||||||
Gain (loss) on sale of investment | $ (100) | ||||||||
Disposal Group, Disposed of by Sale, Not Discontinued Operations | Hulu | |||||||||
Business Acquisition [Line Items] | |||||||||
Cash proceeds from sale of businesses and interest in affiliates | $ 1,430 | ||||||||
Gain (loss) on sale of investment | $ 740 |
Property, Plant And Equipment_2
Property, Plant And Equipment (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, at cost | $ 327,751 | $ 333,538 | |
Accumulated depreciation and amortization | 200,436 | 203,410 | |
Property, plant and equipment - net | 127,315 | 130,128 | $ 131,473 |
Land | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, at cost | 2,571 | 2,651 | |
Buildings and improvements | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, at cost | $ 39,418 | 38,924 | |
Buildings and improvements | Minimum | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, useful life | 2 years | ||
Buildings and improvements | Maximum | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, useful life | 44 years | ||
Central office equipment | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, at cost | $ 95,981 | 96,061 | |
Central office equipment | Minimum | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, useful life | 3 years | ||
Central office equipment | Maximum | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, useful life | 10 years | ||
Cable, wiring and conduit | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, at cost | $ 75,409 | 72,042 | |
Cable, wiring and conduit | Minimum | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, useful life | 15 years | ||
Cable, wiring and conduit | Maximum | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, useful life | 50 years | ||
Satellites | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, at cost | $ 908 | 2,489 | |
Satellites | Minimum | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, useful life | 14 years | ||
Satellites | Maximum | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, useful life | 17 years | ||
Other equipment | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, at cost | $ 90,883 | 94,951 | |
Other equipment | Minimum | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, useful life | 3 years | ||
Other equipment | Maximum | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, useful life | 20 years | ||
Software | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, at cost | $ 18,482 | 22,244 | |
Software | Minimum | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, useful life | 3 years | ||
Software | Maximum | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, useful life | 7 years | ||
Under construction | |||
Property, Plant and Equipment [Line Items] | |||
Property, plant and equipment, at cost | $ 4,099 | $ 4,176 |
Property, Plant And Equipment_3
Property, Plant And Equipment (Narrative) (Details) - USD ($) $ in Millions | 1 Months Ended | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Property, Plant and Equipment [Line Items] | ||||
Depreciation expense | $ 20,277 | $ 20,285 | $ 20,083 | |
Video | Communications | ||||
Property, Plant and Equipment [Line Items] | ||||
Impairment charge recorded | $ 7,255 | |||
Video | Communications | Property, Plant and Equipment | ||||
Property, Plant and Equipment [Line Items] | ||||
Impairment charge recorded | $ 1,681 | |||
Copper Network Assets | ||||
Property, Plant and Equipment [Line Items] | ||||
Noncash pre-tax charge to abandon copper assets | 1,290 | |||
Software | ||||
Property, Plant and Equipment [Line Items] | ||||
Depreciation expense | $ 3,483 | $ 3,313 | $ 3,092 |
Leases (Narrative) (Details)
Leases (Narrative) (Details) - Maximum | Dec. 31, 2020 |
Lessee, Lease, Description [Line Items] | |
Operating Lease, remaining term of contract | 15 years |
Finance Lease, remaining term of contract | 15 years |
Leases (Components of Lease Exp
Leases (Components of Lease Expense) (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Leases [Abstract] | ||
Operating lease cost | $ 5,896 | $ 5,684 |
Finance lease cost: | ||
Amortization of right-of-use assets | 287 | 271 |
Interest on lease obligation | 156 | 169 |
Total finance lease cost | $ 443 | $ 440 |
Leases (Supplemental Cash Flow
Leases (Supplemental Cash Flow Information Related to Leases) (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Cash Flows from Operating Activities | ||
Operating cash flows from operating leases | $ 4,852 | $ 4,583 |
Supplemental Lease Cash Flow Disclosures | ||
Operating lease right-of-use assets obtained in exchange for new operating lease obligations | $ 5,270 | $ 7,818 |
Leases (Supplemental Balance Sh
Leases (Supplemental Balance Sheet Information Related to Leases) (Details) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Operating Leases | ||
Operating lease right-of-use assets | $ 24,714 | $ 24,039 |
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List] | Accounts payable and accrued liabilities | Accounts payable and accrued liabilities |
Accounts payable and accrued liabilities | $ 3,537 | $ 3,451 |
Operating lease obligation | 22,202 | 21,804 |
Total operating lease obligation | 25,739 | 25,255 |
Finance Leases | ||
Property, plant and equipment, at cost | 3,586 | 3,534 |
Accumulated depreciation and amortization | (1,361) | (1,296) |
Property, plant and equipment, net | $ 2,225 | $ 2,238 |
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List] | Property, Plant and Equipment – Net | Property, Plant and Equipment – Net |
Current portion of long-term debt | $ 189 | $ 162 |
Finance Lease, Liability, Current, Statement of Financial Position [Extensible List] | Debt maturing within one year | Debt maturing within one year |
Long-term debt | $ 1,847 | $ 1,872 |
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List] | Long-Term Debt | Long-Term Debt |
Total finance lease obligation | $ 2,036 | $ 2,034 |
Weighted-Average Remaining Lease Term (years), Operating leases | 8 years 6 months | 8 years 4 months 24 days |
Weighted-Average Remaining Lease Term (years), Finance leases | 9 years 10 months 24 days | 10 years 3 months 18 days |
Weighted-Average Discount Rate, Operating leases | 4.10% | 4.20% |
Weighted-Average Discount Rate, Finance leases | 8.10% | 8.40% |
Leases (Future Minimum Maturiti
Leases (Future Minimum Maturities of Lease Liabilities) (Details) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Operating Leases | ||
2021 | $ 4,808 | |
2022 | 4,527 | |
2023 | 4,094 | |
2024 | 3,560 | |
2025 | 2,904 | |
Thereafter | 11,230 | |
Total lease payments | 31,123 | |
Less: imputed interest | (5,384) | |
Total | 25,739 | $ 25,255 |
Finance Leases | ||
2021 | 350 | |
2022 | 333 | |
2023 | 300 | |
2024 | 276 | |
2025 | 272 | |
Thereafter | 1,609 | |
Total lease payments | 3,140 | |
Less: imputed interest | (1,104) | |
Total | $ 2,036 | $ 2,034 |
Goodwill And Other Intangible_3
Goodwill And Other Intangible Assets (Summary Of Changes In Carrying Amount Of Goodwill, By Segment) (Details) $ in Millions | Dec. 31, 2020USD ($)reporting_unit | Dec. 31, 2020USD ($) | Jun. 30, 2020USD ($) | Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) | Oct. 01, 2020 |
Goodwill [Line Items] | ||||||
Goodwill impairment | $ 10,465 | |||||
Goodwill [Roll Forward] | ||||||
Beginning balance | 146,241 | $ 146,370 | ||||
Acquisitions | 415 | 66 | ||||
Impairments | (10,465) | |||||
Dispositions, currency exchange and other | (932) | (195) | ||||
Ending balance | $ 135,259 | $ 135,259 | 135,259 | 146,241 | ||
Orbital slots | ||||||
Goodwill [Line Items] | ||||||
Impairment charge - intangible assets | 4,373 | |||||
Customer lists | ||||||
Goodwill [Line Items] | ||||||
Impairment charge - intangible assets | 1,201 | |||||
Communications | ||||||
Goodwill [Line Items] | ||||||
Goodwill impairment | 8,253 | |||||
Number of reporting units | reporting_unit | 4 | |||||
Goodwill [Roll Forward] | ||||||
Beginning balance | 100,234 | 100,551 | ||||
Acquisitions | 0 | 0 | ||||
Impairments | (8,253) | |||||
Dispositions, currency exchange and other | (5) | (317) | ||||
Ending balance | $ 91,976 | 91,976 | 91,976 | 100,234 | ||
Communications | Entertainment Group | ||||||
Goodwill [Line Items] | ||||||
Percent fair values exceeded book values (less than) | 10.00% | |||||
Communications | Video | ||||||
Goodwill [Line Items] | ||||||
Long-lived asset impairment | 7,255 | |||||
Goodwill impairment | 8,253 | |||||
Goodwill [Roll Forward] | ||||||
Impairments | (8,253) | |||||
Communications | Consumer Wireline | ||||||
Goodwill [Line Items] | ||||||
Goodwill impairment | 0 | |||||
Goodwill [Roll Forward] | ||||||
Impairments | 0 | |||||
WarnerMedia | ||||||
Goodwill [Line Items] | ||||||
Goodwill impairment | 0 | |||||
Number of reporting units | reporting_unit | 4 | |||||
Goodwill [Roll Forward] | ||||||
Beginning balance | 42,345 | 42,101 | ||||
Acquisitions | 415 | 66 | ||||
Impairments | 0 | |||||
Dispositions, currency exchange and other | (313) | 178 | ||||
Ending balance | $ 42,447 | 42,447 | 42,447 | 42,345 | ||
WarnerMedia | Turner | ||||||
Goodwill [Line Items] | ||||||
Percent fair values exceeded book values (less than) | 10.00% | |||||
WarnerMedia | Home Box Office | ||||||
Goodwill [Line Items] | ||||||
Percent fair values exceeded book values (less than) | 10.00% | |||||
Latin America | ||||||
Goodwill [Line Items] | ||||||
Goodwill impairment | 2,212 | |||||
Number of reporting units | reporting_unit | 2 | |||||
Goodwill [Roll Forward] | ||||||
Beginning balance | 3,662 | 3,718 | ||||
Acquisitions | 0 | 0 | ||||
Impairments | (2,212) | |||||
Dispositions, currency exchange and other | (614) | (56) | ||||
Ending balance | $ 836 | $ 836 | $ 836 | $ 3,662 | ||
Latin America | Vrio | Latin America | ||||||
Goodwill [Line Items] | ||||||
Goodwill impairment | $ 2,212 | |||||
Goodwill [Roll Forward] | ||||||
Impairments | (2,212) | |||||
Latin America | Vrio | Latin America | Noncontrolling Interest | ||||||
Goodwill [Line Items] | ||||||
Goodwill impairment | 105 | |||||
Goodwill [Roll Forward] | ||||||
Impairments | $ (105) |
Goodwill And Other Intangible_4
Goodwill And Other Intangible Assets (Schedule Of Amortized Intangible Assets) (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Finite-Lived Intangible Assets [Line Items] | ||
Weighted-Average Life | 22 years 3 months 18 days | |
Gross Carrying Amount | $ 73,585 | $ 82,150 |
Accumulated Amortization | 16,910 | 25,392 |
Currency Translation Adjustment | $ (1,328) | (533) |
Wireless licenses | ||
Finite-Lived Intangible Assets [Line Items] | ||
Weighted-Average Life | 24 years 7 months 6 days | |
Gross Carrying Amount | $ 2,979 | 2,981 |
Accumulated Amortization | 271 | 156 |
Currency Translation Adjustment | $ (421) | (243) |
Wireless licenses | Mexico | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | 1,561 | |
Orbital slots | ||
Finite-Lived Intangible Assets [Line Items] | ||
Weighted-Average Life | 15 years | |
Gross Carrying Amount | $ 5,825 | 0 |
Accumulated Amortization | 0 | 0 |
Currency Translation Adjustment | $ 0 | 0 |
Trademarks and trade names | ||
Finite-Lived Intangible Assets [Line Items] | ||
Weighted-Average Life | 37 years 1 month 6 days | |
Gross Carrying Amount | $ 20,016 | 18,359 |
Accumulated Amortization | 1,518 | 853 |
Currency Translation Adjustment | $ (442) | (6) |
Distribution network | ||
Finite-Lived Intangible Assets [Line Items] | ||
Weighted-Average Life | 10 years | |
Gross Carrying Amount | $ 18,414 | 18,138 |
Accumulated Amortization | 4,621 | 2,793 |
Currency Translation Adjustment | $ 0 | 0 |
Released television and film content | ||
Finite-Lived Intangible Assets [Line Items] | ||
Weighted-Average Life | 17 years 6 months | |
Gross Carrying Amount | $ 10,940 | 10,941 |
Accumulated Amortization | 6,240 | 4,974 |
Currency Translation Adjustment | $ 0 | 0 |
Customer lists and relationships | ||
Finite-Lived Intangible Assets [Line Items] | ||
Weighted-Average Life | 9 years 3 months 18 days | |
Gross Carrying Amount | $ 4,100 | 20,304 |
Accumulated Amortization | 1,645 | 14,773 |
Currency Translation Adjustment | $ (460) | (281) |
Other | ||
Finite-Lived Intangible Assets [Line Items] | ||
Weighted-Average Life | 21 years 3 months 18 days | |
Gross Carrying Amount | $ 11,311 | 11,427 |
Accumulated Amortization | 2,615 | 1,843 |
Currency Translation Adjustment | $ (5) | $ (3) |
Goodwill And Other Intangible_5
Goodwill And Other Intangible Assets (Schedule Of Indefinite-Life Intangible Assets Not Subject To Amortization) (Details) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Indefinite-lived Intangible Assets [Line Items] | ||
Total | $ 90,969 | $ 101,392 |
Wireless licenses | ||
Indefinite-lived Intangible Assets [Line Items] | ||
Total | 85,728 | 83,623 |
Orbital slots | ||
Indefinite-lived Intangible Assets [Line Items] | ||
Total | 0 | 11,702 |
Trade names | ||
Indefinite-lived Intangible Assets [Line Items] | ||
Total | $ 5,241 | $ 6,067 |
Goodwill And Other Intangible_6
Goodwill And Other Intangible Assets (Narrative) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Finite-Lived Intangible Assets [Line Items] | |||
Estimated economic useful life | 22 years 3 months 18 days | ||
Amortization expense for definite-life intangible assets for the year | $ 8,239 | $ 7,932 | $ 8,347 |
Estimated amortization expense in 2021 | 5,987 | ||
Estimated amortization expense in 2022 | 5,363 | ||
Estimated amortization expense in 2023 | 4,846 | ||
Estimated amortization expense in 2024 | 4,302 | ||
Estimated amortization expense in 2025 | $ 4,046 | ||
Orbital slots | |||
Finite-Lived Intangible Assets [Line Items] | |||
Estimated economic useful life | 15 years |
Equity Method Investments (Narr
Equity Method Investments (Narrative) (Details) - Equity Method Investments | Dec. 31, 2020 |
SKY Mexico | |
Schedule of Equity Method Investments [Line Items] | |
Company's ownership interest in investee | 41.30% |
The CW | |
Schedule of Equity Method Investments [Line Items] | |
Company's ownership interest in investee | 50.00% |
Equity Method Investments (Reco
Equity Method Investments (Reconciliation Of Investments In Equity Affiliates) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Equity Method Investments [Roll Forward] | |||
Beginning of year | $ 3,695 | $ 6,245 | |
Additional investments | 178 | 448 | |
Equity in net income (loss) of affiliates | 95 | 6 | $ (48) |
Dividends and distributions received | (133) | (301) | |
Currency translation adjustments | (10) | (10) | |
Impairments | (146) | 0 | |
Other adjustments | (9) | (35) | |
End of year | 1,780 | 3,695 | $ 6,245 |
HBO LAG | |||
Equity Method Investments [Roll Forward] | |||
Acquisition of remaining interest in HBO LAG | (1,141) | 0 | |
CME | |||
Equity Method Investments [Roll Forward] | |||
Disposition of investments | (749) | 0 | |
Hudson Yards | |||
Equity Method Investments [Roll Forward] | |||
Disposition of investments | 0 | (1,681) | |
Hulu | |||
Equity Method Investments [Roll Forward] | |||
Disposition of investments | 0 | (689) | |
Game Show Network | |||
Equity Method Investments [Roll Forward] | |||
Disposition of investments | $ 0 | $ (288) |
Inventories And Theatrical Fi_3
Inventories And Theatrical Film And Television Production Costs (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2020 | Dec. 31, 2019 | Jan. 01, 2019 | |
Finite-Lived Intangible Assets [Line Items] | ||||
Other current assets | $ (20,231) | $ (20,231) | $ (18,364) | |
Inventories: | ||||
Less: current portion of inventory | (3,592) | (3,592) | (2,864) | |
Theatrical film production costs: | ||||
Released, less amortization | 487 | 487 | 392 | |
Completed and not released | 616 | 616 | 437 | |
In production | 1,130 | 1,130 | 1,475 | |
Development and pre-production | 190 | 190 | 171 | |
Television production costs: | ||||
Released, less amortization | 2,495 | 2,495 | 2,199 | |
Completed and not released | 1,381 | 1,381 | 1,344 | |
In production | 2,353 | 2,353 | 2,208 | |
Development and pre-production | 90 | 90 | 57 | |
Total theatrical film and television production costs | 8,742 | 8,742 | 8,283 | |
Total noncurrent inventories and theatrical film and television production costs | 14,752 | 14,752 | 12,434 | |
Film costs of released and completed and not released theatrical and television product | 5,171 | 5,171 | ||
Programming Inventory Costs | ASU 2019-02 | ||||
Finite-Lived Intangible Assets [Line Items] | ||||
Other current assets | $ 2,274 | |||
Other assets | $ 2,274 | |||
COVID-19 Pandemic | ||||
Unusual or Infrequent Item, or Both [Line Items] | ||||
Impairment based on change in estimates for various film titles | 524 | |||
Total inventories | ||||
Inventories: | ||||
Total inventories | 6,113 | 6,113 | 4,247 | |
Less: current portion of inventory | (103) | (103) | (96) | |
Total noncurrent inventories | 6,010 | 6,010 | 4,151 | |
Programming costs, less amortization | ||||
Inventories: | ||||
Total inventories | 6,010 | 6,010 | 4,151 | |
Other inventory, primarily DVD and Blu-ray Discs | ||||
Inventories: | ||||
Total inventories | 103 | 103 | 96 | |
Film and Television Libraries | ||||
Finite-Lived Intangible Assets [Line Items] | ||||
Intangible assets subject to amortization, net | $ 4,699 | $ 4,699 | $ 5,967 | |
Percentage of unamortized film costs | 90.00% | 90.00% | ||
Amortization period for unamortized film costs | 3 years | |||
Film costs, amortized in next operating cycle | $ 3,111 |
Debt (Summary Of Long-Term Debt
Debt (Summary Of Long-Term Debt Of AT&T And Its Subsidiaries) (Details) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Debt Instrument [Line Items] | ||
Carrying amount of notes and debentures | $ 165,451 | $ 164,557 |
Unamortized (discount) premium - net | (9,710) | (2,996) |
Unamortized issuance costs | (532) | (452) |
Total notes and debentures | 155,209 | 161,109 |
Finance lease obligations | 2,036 | 2,034 |
Total long-term debt, including current maturities | 157,245 | 163,143 |
Current maturities of long-term debt | (3,470) | (11,834) |
Total long-term debt | 153,775 | 151,309 |
Credit agreement borrowings | ||
Debt Instrument [Line Items] | ||
Carrying amount of notes and debentures | 300 | 4,969 |
Fair value of interest rate swaps recorded in debt | ||
Debt Instrument [Line Items] | ||
Carrying amount of notes and debentures | 20 | 26 |
Notes And Debentures Maturing 2020-2039 | Notes and debentures | ||
Debt Instrument [Line Items] | ||
Carrying amount of notes and debentures | $ 25,549 | 17,404 |
Notes And Debentures Maturing 2020-2039 | Notes and debentures | Minimum | ||
Debt Instrument [Line Items] | ||
Debt instrument - stated percentage rate | 0.98% | |
Notes And Debentures Maturing 2020-2039 | Notes and debentures | Maximum | ||
Debt Instrument [Line Items] | ||
Debt instrument - stated percentage rate | 2.99% | |
Notes And Debentures Maturing 2020-2050 | Notes and debentures | ||
Debt Instrument [Line Items] | ||
Carrying amount of notes and debentures | $ 110,317 | 102,595 |
Notes And Debentures Maturing 2020-2050 | Notes and debentures | Minimum | ||
Debt Instrument [Line Items] | ||
Debt instrument - stated percentage rate | 3.00% | |
Notes And Debentures Maturing 2020-2050 | Notes and debentures | Maximum | ||
Debt Instrument [Line Items] | ||
Debt instrument - stated percentage rate | 4.99% | |
Notes And Debentures Maturing 2020-2095 | Notes and debentures | ||
Debt Instrument [Line Items] | ||
Carrying amount of notes and debentures | $ 24,259 | 34,513 |
Notes And Debentures Maturing 2020-2095 | Notes and debentures | Minimum | ||
Debt Instrument [Line Items] | ||
Debt instrument - stated percentage rate | 5.00% | |
Notes And Debentures Maturing 2020-2095 | Notes and debentures | Maximum | ||
Debt Instrument [Line Items] | ||
Debt instrument - stated percentage rate | 6.99% | |
Notes And Debentures Maturing 2020-2097 | Notes and debentures | ||
Debt Instrument [Line Items] | ||
Carrying amount of notes and debentures | $ 5,006 | $ 5,050 |
Notes And Debentures Maturing 2020-2097 | Notes and debentures | Minimum | ||
Debt Instrument [Line Items] | ||
Debt instrument - stated percentage rate | 7.00% | |
Notes And Debentures Maturing 2020-2097 | Notes and debentures | Maximum | ||
Debt Instrument [Line Items] | ||
Debt instrument - stated percentage rate | 9.15% |
Debt (Narrative) (Details)
Debt (Narrative) (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2007 | |
Debt Instrument [Line Items] | |||
Outstanding debt | $ 165,451,000,000 | $ 164,557,000,000 | |
Weighted-average interest rate | 4.10% | 4.40% | |
Debt Instrument - principal/face amount | $ 32,241,000,000 | ||
Debt Issued in Foreign Markets | |||
Debt Instrument [Line Items] | |||
Outstanding debt | 43,399,000,000 | $ 42,485,000,000 | |
Zero Coupon | |||
Debt Instrument [Line Items] | |||
Debt Instrument - principal/face amount | $ 500,000,000 | ||
Debt instrument - redemption amount | $ 592,000,000 |
Debt (Debt Maturing Within One
Debt (Debt Maturing Within One Year) (Details) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Debt Disclosure [Abstract] | ||
Current maturities of long-term debt | $ 3,470 | $ 11,834 |
Bank borrowings | 0 | 4 |
Total | $ 3,470 | $ 11,838 |
Debt (Long-Term Debt - Schedule
Debt (Long-Term Debt - Scheduled Repayments) (Details) $ in Millions | 12 Months Ended |
Dec. 31, 2020USD ($) | |
Debt repayments | |
2021 | $ 3,418 |
2022 | 5,951 |
2023 | 7,779 |
2024 | 7,849 |
2025 | 6,389 |
Thereafter | $ 134,268 |
Weighted-average interest rate | |
2021 | 3.80% |
2022 | 3.30% |
2023 | 3.40% |
2024 | 3.30% |
2025 | 3.90% |
Thereafter | 4.20% |
Debt (Financing Activities) (Na
Debt (Financing Activities) (Narrative) (Details) - USD ($) | 1 Months Ended | 12 Months Ended | ||||
Dec. 31, 2020 | Sep. 30, 2020 | Aug. 31, 2020 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Debt Instrument [Line Items] | ||||||
Net proceeds received from issuance of long-term debt | $ 31,988,000,000 | $ 17,039,000,000 | $ 41,875,000,000 | |||
Debt Instrument - principal/face amount | $ 32,241,000,000 | $ 32,241,000,000 | ||||
Weighted maturity period | 20 years | |||||
Weighted average coupon | 3.20% | |||||
Repayment of long-term debt | $ 39,964,000,000 | $ 27,592,000,000 | $ 52,643,000,000 | |||
Weighted-average interest rate | 4.10% | 4.10% | 4.40% | |||
Various Notes | ||||||
Debt Instrument [Line Items] | ||||||
Weighted average coupon | 3.20% | |||||
Amount of borrowings repaid / debt exchanged | $ 39,758,000,000 | |||||
AT&T Global Notes and Subsidiary Notes due 2021 to 2025 | ||||||
Debt Instrument [Line Items] | ||||||
Repayment of long-term debt | $ 11,384,000,000 | |||||
AT&T and Subsidiary Notes | ||||||
Debt Instrument [Line Items] | ||||||
Amount of borrowings repaid / debt exchanged | $ 17,677,000,000 | |||||
Repayment of long-term debt | 1,459,000,000 | |||||
Three New Series of AT&T Global Notes due 2053 to 2059 | ||||||
Debt Instrument [Line Items] | ||||||
Net proceeds received from issuance of long-term debt | $ 21,500,000,000 | |||||
AT&T and Subsidiary Notes due 2026 to 2048 | ||||||
Debt Instrument [Line Items] | ||||||
Amount of borrowings repaid / debt exchanged | $ 8,280,000,000 | |||||
Repayment of long-term debt | 8,000,000 | |||||
Two New Series of Global Notes due 2033 to 2057 | ||||||
Debt Instrument [Line Items] | ||||||
Net proceeds received from issuance of long-term debt | $ 9,678,000,000 | |||||
Minimum | AT&T and Subsidiary Notes | ||||||
Debt Instrument [Line Items] | ||||||
Weighted-average interest rate | 4.35% | |||||
Minimum | Three New Series of AT&T Global Notes due 2053 to 2059 | ||||||
Debt Instrument [Line Items] | ||||||
Weighted-average interest rate | 3.50% | |||||
Minimum | AT&T and Subsidiary Notes due 2026 to 2048 | ||||||
Debt Instrument [Line Items] | ||||||
Weighted-average interest rate | 2.95% | 2.95% | ||||
Minimum | Two New Series of Global Notes due 2033 to 2057 | ||||||
Debt Instrument [Line Items] | ||||||
Weighted-average interest rate | 2.55% | 2.55% | ||||
Maximum | AT&T and Subsidiary Notes | ||||||
Debt Instrument [Line Items] | ||||||
Weighted-average interest rate | 8.75% | |||||
Maximum | Three New Series of AT&T Global Notes due 2053 to 2059 | ||||||
Debt Instrument [Line Items] | ||||||
Weighted-average interest rate | 3.65% | |||||
Maximum | AT&T and Subsidiary Notes due 2026 to 2048 | ||||||
Debt Instrument [Line Items] | ||||||
Weighted-average interest rate | 7.125% | 7.125% | ||||
Maximum | Two New Series of Global Notes due 2033 to 2057 | ||||||
Debt Instrument [Line Items] | ||||||
Weighted-average interest rate | 3.80% | 3.80% |
Debt (Credit Facilities) (Narra
Debt (Credit Facilities) (Narrative) (Details) | Jan. 29, 2021USD ($) | Sep. 30, 2019USD ($) | Dec. 31, 2020USD ($)renewal_option | Jan. 31, 2021USD ($) | Nov. 30, 2020USD ($) | Apr. 30, 2020USD ($) |
Line of Credit Facility [Line Items] | ||||||
Maximum net debt-to-EBITDA financial ratio covenant | 3.5 | |||||
Minimum percentage of facility commitments required for lender involvement in option to extend commitments | 50.00% | |||||
Number of extension options | renewal_option | 2 | |||||
Term of each optional extension period | 1 year | |||||
Subsequent Event | ||||||
Line of Credit Facility [Line Items] | ||||||
Commercial paper outstanding | $ 6,100,000,000 | |||||
High Credit Rating | ||||||
Line of Credit Facility [Line Items] | ||||||
Credit agreement - commitment fee percentage | 0.07% | |||||
Moderate Credit Rating | ||||||
Line of Credit Facility [Line Items] | ||||||
Credit agreement - commitment fee percentage | 0.08% | |||||
Low Credit Rating | ||||||
Line of Credit Facility [Line Items] | ||||||
Credit agreement - commitment fee percentage | 0.10% | |||||
Very Low Credit Rating | ||||||
Line of Credit Facility [Line Items] | ||||||
Credit agreement - commitment fee percentage | 0.125% | |||||
Federal Funds Rate | ||||||
Line of Credit Facility [Line Items] | ||||||
Credit agreement - basis spread of variable rate | 0.50% | |||||
LIBOR | ||||||
Line of Credit Facility [Line Items] | ||||||
Credit agreement - basis spread of variable rate | 1.00% | |||||
Additional Margin Upon Default | ||||||
Line of Credit Facility [Line Items] | ||||||
Credit agreement - basis spread of variable rate | 2.00% | |||||
Term Loan Credit Agreement | September 2019 Term Loan | Bank of America, N.A. | ||||||
Line of Credit Facility [Line Items] | ||||||
Credit agreement - maximum borrowing capacity | $ 1,300,000,000 | |||||
Credit agreement - advances outstanding | 1,300,000,000 | |||||
Term Loan Credit Agreement | 1.25 year Tranche A Facility Term Loan | Bank of America, N.A. | ||||||
Line of Credit Facility [Line Items] | ||||||
Credit agreement - maximum borrowing capacity | $ 400,000,000 | |||||
Credit agreement - term of Loan | 1 year 3 months | |||||
Credit agreement - advances outstanding | $ 400,000,000 | |||||
Term Loan Credit Agreement | 2.25 year Tranche B Facility Term Loan | Bank of America, N.A. | ||||||
Line of Credit Facility [Line Items] | ||||||
Credit agreement - maximum borrowing capacity | $ 400,000,000 | |||||
Credit agreement - term of Loan | 2 years 3 months | |||||
Credit agreement - advances outstanding | $ 400,000,000 | |||||
Term Loan Credit Agreement | 3.25 year Tranche C Facility Term Loan | Bank of America, N.A. | ||||||
Line of Credit Facility [Line Items] | ||||||
Credit agreement - maximum borrowing capacity | $ 500,000,000 | |||||
Credit agreement - term of Loan | 3 years 3 months | |||||
Credit agreement - advances outstanding | $ 500,000,000 | |||||
Term Loan Credit Agreement | April 2020 Term Loan | 11 Commercial Banks And Bank of America, N.A. | ||||||
Line of Credit Facility [Line Items] | ||||||
Credit agreement - maximum borrowing capacity | $ 5,500,000,000 | |||||
Term Loan Credit Agreement | January 2021 Term Loan | Bank of America, N.A. | Subsequent Event | ||||||
Line of Credit Facility [Line Items] | ||||||
Credit agreement - maximum borrowing capacity | $ 14,700,000,000 | |||||
Credit agreement - term of Loan | 364 days | |||||
Revolving Credit Facility | ||||||
Line of Credit Facility [Line Items] | ||||||
Credit agreement - maximum borrowing capacity | $ 15,000,000,000 | |||||
Revolving Credit Facility | Credit Agreement One, Amended Credit Agreement | ||||||
Line of Credit Facility [Line Items] | ||||||
Credit agreement - maximum borrowing capacity | 7,500,000,000 | |||||
Credit agreement - advances outstanding | $ 0 | |||||
Revolving Credit Facility | Credit Agreement Two | ||||||
Line of Credit Facility [Line Items] | ||||||
Credit agreement - maximum borrowing capacity | $ 7,500,000,000 | |||||
Credit agreement - advances outstanding | $ 0 |
Fair Value Measurements And D_3
Fair Value Measurements And Disclosure (Long-Term Debt And Other Financial Instruments) (Details) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Bank borrowings | $ 0 | $ 4 |
Carrying Amount | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Notes and debentures | 155,209 | 161,109 |
Bank borrowings | 0 | 4 |
Investment securities | 3,249 | 3,723 |
Fair Value | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Notes and debentures | 187,224 | 182,124 |
Bank borrowings | 0 | 4 |
Investment securities | $ 3,249 | $ 3,723 |
Fair Value Measurements And D_4
Fair Value Measurements And Disclosure (Fair Value Leveling) (Details) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-Sale Debt Securities | $ 1,479 | $ 1,444 |
Interest rate swaps | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Asset Derivatives | 2 | |
Cross-currency swaps | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Asset Derivatives | 1,721 | 172 |
Liability Derivatives | (1,814) | (3,187) |
Interest rate locks | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Asset Derivatives | 11 | |
Liability Derivatives | (95) | |
Foreign exchange contracts | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Asset Derivatives | 6 | 89 |
Liability Derivatives | (9) | |
Fixed income equities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity Securities | 236 | 229 |
Domestic equities | Securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity Securities | 1,010 | 844 |
International equities | Securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity Securities | 180 | 183 |
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 | Interest rate locks | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Asset Derivatives | 0 | |
Liability Derivatives | 0 | |
Level 1 | Foreign exchange contracts | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Asset Derivatives | 0 | 0 |
Liability Derivatives | 0 | |
Level 1 | Fixed income equities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity Securities | 236 | 229 |
Level 1 | Domestic equities | Securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity Securities | 1,010 | 844 |
Level 1 | International equities | Securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity Securities | 180 | 183 |
Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-Sale Debt Securities | 1,479 | 1,444 |
Level 2 | Interest rate swaps | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Asset Derivatives | 2 | |
Level 2 | Cross-currency swaps | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Asset Derivatives | 1,721 | 172 |
Liability Derivatives | (1,814) | (3,187) |
Level 2 | Interest rate locks | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Asset Derivatives | 11 | |
Liability Derivatives | (95) | |
Level 2 | Foreign exchange contracts | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Asset Derivatives | 6 | 89 |
Liability Derivatives | (9) | |
Level 2 | Fixed income equities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity Securities | 0 | 0 |
Level 2 | Domestic equities | Securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity Securities | 0 | 0 |
Level 2 | International equities | Securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity Securities | 0 | 0 |
Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available-for-Sale Debt Securities | 0 | 0 |
Level 3 | 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 | Interest rate locks | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Asset Derivatives | 0 | |
Liability Derivatives | 0 | |
Level 3 | Foreign exchange contracts | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Asset Derivatives | 0 | 0 |
Liability Derivatives | 0 | |
Level 3 | Fixed income equities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity Securities | 0 | 0 |
Level 3 | Domestic equities | Securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity Securities | 0 | 0 |
Level 3 | International equities | Securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity Securities | $ 0 | $ 0 |
Fair Value Measurements And D_5
Fair Value Measurements And Disclosure (Gain and Losses on Equity Securities) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Fair Value Disclosures [Abstract] | |||
Total gains (losses) recognized on equity securities | $ 171 | $ 301 | $ (130) |
Gains (losses) recognized on equity securities sold | (25) | 100 | (10) |
Unrealized gains (losses) recognized on equity securities held at end of period | $ 196 | $ 201 | $ (120) |
Fair Value Measurements And D_6
Fair Value Measurements And Disclosure (Narrative) (Details) | 1 Months Ended | 12 Months Ended | ||
May 31, 2020USD ($) | Dec. 31, 2020USD ($) | Dec. 31, 2020EUR (€) | Dec. 31, 2019USD ($) | |
Fair Value Disclosures [Abstract] | ||||
Available-for-sale debt securities | $ 1,479,000,000 | $ 1,444,000,000 | ||
Available-for-sale debt securities - maturities less than 1 year | 29,000,000 | |||
Available-for-sale debt securities - maturities within 1 to 3 years | 159,000,000 | |||
Available-for-sale debt securities - maturities within 3 to 5 years | 179,000,000 | |||
Available-for-sale debt securities - maturities for 5 or more years | 1,112,000,000 | |||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Anticipated reclassification of holding losses during the next 12 months - cash flow hedges | 92,000,000 | |||
Aggregate principal amount of debt | 32,241,000,000 | |||
Net losses on net investment hedges recognized in accumulated OCI | 147,000,000 | |||
Collateral submitted to counterparty | 53,000,000 | 204,000,000 | ||
Collateral received from counterparty | 694,000,000 | 44,000,000 | ||
Collateral contingently payable to the counterparty | 33,000,000 | |||
Nonrecurring Fair Value Measurements | ||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Nonrecurring fair value measurements | $ 0 | |||
Communications | Video | Nonrecurring Fair Value Measurements | ||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Nonrecurring fair value measurements | 9,744,000,000 | |||
Property, plant, and equipment, fair value measurements | 2,258,000,000 | |||
Communications | Video | Nonrecurring Fair Value Measurements | Orbital slots | ||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Finite-lived intangible assets, fair value measurements | 5,873,000,000 | |||
Communications | Video | Nonrecurring Fair Value Measurements | Customer lists | ||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Finite-lived intangible assets, fair value measurements | 1,613,000,000 | |||
WarnerMedia | Warner Bros. | Nonrecurring Fair Value Measurements | ||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Film costs, fair value measurements | 844,000,000 | |||
Measurement Input, Entity Credit Risk | ||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Collateral contingently payable to the counterparty | 676,000,000 | |||
Measurement Input, Entity Credit Risk | Communications | DirecTV | ||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Collateral contingently payable to the counterparty | $ 134,000,000 | |||
Net Investment Hedging | ||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Aggregate principal amount of debt | € | € 1,450,000,000 | |||
Interest rate locks | Cash Flow Hedging | ||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Payment for hedge | $ 731,000,000 |
Fair Value Measurements And D_7
Fair Value Measurements And Disclosure (Notional Amount Of Our Outstanding Derivative Positions) (Details) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Derivative [Line Items] | ||
Notional amounts of outstanding derivative positions | $ 40,835 | $ 46,947 |
Interest rate swaps | ||
Derivative [Line Items] | ||
Notional amounts of outstanding derivative positions | 0 | 853 |
Cross-currency swaps | ||
Derivative [Line Items] | ||
Notional amounts of outstanding derivative positions | 40,745 | 42,325 |
Interest rate locks | ||
Derivative [Line Items] | ||
Notional amounts of outstanding derivative positions | 0 | 3,500 |
Foreign exchange contracts | ||
Derivative [Line Items] | ||
Notional amounts of outstanding derivative positions | $ 90 | $ 269 |
Fair Value Measurements And D_8
Fair Value Measurements And Disclosure (Effect Of Derivatives On The Consolidated Statements Of Income) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Interest rate swaps | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Gain (Loss) on interest rate swaps | $ (6) | $ 58 | $ (12) |
Gain (Loss) on long-term debt | 6 | (58) | 12 |
Cross-currency swaps | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Gain (Loss) recognized in accumulated OCI | (378) | (1,066) | (825) |
Foreign exchange contracts | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Gain (Loss) recognized in accumulated OCI | 3 | 10 | 51 |
Foreign exchange contracts | Other income (expense) - net | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Amount reclassified from accumulated OCI into income | (3) | 6 | 39 |
Interest rate locks | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Gain (Loss) recognized in accumulated OCI | (648) | (84) | 0 |
Interest rate locks | Interest income (expense) | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Amount reclassified from accumulated OCI into income | $ (84) | $ (63) | $ (58) |
Income Taxes (Components Of Def
Income Taxes (Components Of Deferred Tax Liabilities (Assets)) (Details) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Income Tax Disclosure [Abstract] | ||
Depreciation and amortization | $ 46,952 | $ 44,896 |
Licenses and nonamortizable intangibles | 13,930 | 17,355 |
Employee benefits | (5,279) | (5,143) |
Deferred fulfillment costs | 2,691 | 3,050 |
Net operating loss and other carryforwards | (7,355) | (7,301) |
Other – net | 4,562 | 1,536 |
Subtotal | 55,501 | 54,393 |
Deferred tax assets valuation allowance | 4,773 | 4,941 |
Net deferred tax liabilities | 60,274 | 59,334 |
Noncurrent deferred tax liabilities | 60,472 | 59,502 |
Less: Noncurrent deferred tax assets | $ (198) | $ (168) |
Income Taxes (Narrative) (Detai
Income Taxes (Narrative) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Operating Loss Carryforwards [Line Items] | |||
Net operating and capital loss carryforwards (tax effected) for federal income tax purposes | $ 585 | ||
Net operating and capital loss carryforwards (tax effected) for state income tax purposes | 916 | ||
Net operating and capital loss carryforwards (tax effected) for foreign income tax purposes | 2,763 | ||
Amount of deposits that reduced UTB balance | 702 | $ 2,584 | |
Accrued interest and penalties included in unrecognized tax benefits balance at year end | 2,450 | 2,708 | |
Net interest and penalty expense included in income tax expense | 149 | $ 267 | $ 1,290 |
Federal | |||
Operating Loss Carryforwards [Line Items] | |||
Tax credit carryforwards | 1,080 | ||
State | |||
Operating Loss Carryforwards [Line Items] | |||
Tax credit carryforwards | $ 2,011 |
Income Taxes (Changes In Unreco
Income Taxes (Changes In Unrecognized Tax Benefits Balance For Federal State And Foreign Tax) (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | ||
Balance at beginning of year | $ 10,979 | $ 10,358 |
Increases for tax positions related to the current year | 1,580 | 903 |
Increases for tax positions related to prior years | 112 | 1,106 |
Decreases for tax positions related to prior years | (994) | (1,283) |
Lapse of statute of limitations | (24) | (32) |
Settlements | (1,646) | (283) |
Current year acquisitions | 0 | 205 |
Foreign currency effects | (6) | 5 |
Balance at end of year | 10,001 | 10,979 |
Accrued interest and penalties | 2,450 | 2,708 |
Gross unrecognized income tax benefits | 12,451 | 13,687 |
Less: Deferred federal and state income tax benefits | (878) | (886) |
Less: Tax attributable to timing items included above | (3,588) | (4,320) |
Total UTB that, if recognized, would impact the effective income tax rate as of the end of the year | $ 7,985 | $ 8,481 |
Income Taxes (Components of Inc
Income Taxes (Components of Income Tax Expense (Benefit)) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Federal: | |||
Current | $ (687) | $ 584 | $ 3,258 |
Deferred | 1,039 | 1,656 | 277 |
Total federal income tax | 352 | 2,240 | 3,535 |
State and local: | |||
Current | (6) | 603 | 513 |
Deferred | 263 | 144 | 473 |
Total state and local income tax | 257 | 747 | 986 |
Foreign: | |||
Current | 413 | 605 | 539 |
Deferred | (57) | (99) | (140) |
Total foreign income tax | 356 | 506 | 399 |
Total | $ 965 | $ 3,493 | $ 4,920 |
Income Taxes (Schedule of Incom
Income Taxes (Schedule of Income before Income Tax, Domestic and Foreign) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Income Tax Disclosure [Abstract] | |||
U.S. income (loss) before income taxes | $ (452) | $ 18,301 | $ 25,379 |
Foreign income (loss) before income taxes | (2,404) | 167 | (506) |
Income (Loss) Before Income Taxes | $ (2,856) | $ 18,468 | $ 24,873 |
Income Taxes (Reconciliation Of
Income Taxes (Reconciliation Of Income Tax Expense (Benefit) Based On Federal Statutory Rate To Amount Per Effective Tax Rate) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Income Tax Disclosure [Abstract] | |||
Taxes computed at federal statutory rate | $ (600) | $ 3,878 | $ 5,223 |
Increases (decreases) in income taxes resulting from: | |||
State and local income taxes - net of federal income tax benefit | 193 | 611 | 738 |
Enactment date and measurement period adjustments from the Act | 0 | 0 | (718) |
Tax on foreign investments | (141) | (115) | (466) |
Noncontrolling interest | (285) | (230) | (121) |
Permanent items and R&D credit | (239) | (285) | (189) |
Audit resolutions | (112) | (156) | 544 |
Divestitures | 107 | 0 | 0 |
Goodwill impairment | 2,120 | 0 | 0 |
Other - net | (78) | (210) | (91) |
Total | $ 965 | $ 3,493 | $ 4,920 |
Effective Tax Rate | (33.80%) | 18.90% | 19.80% |
Pension And Postretirement Be_3
Pension And Postretirement Benefits (Narrative) (Details) - USD ($) | 1 Months Ended | 12 Months Ended | ||||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Defined Benefit Plan Disclosure [Line Items] | ||||||
Combined net pension and postretirement cost | $ 711,000,000 | $ 2,762,000,000 | $ (4,251,000,000) | |||
Increase (decrease) in plan benefit obligations due to change in assumed rates | $ (2,992,000,000) | $ (2,002,000,000) | (1,148,000,000) | |||
Composite rate of compensation increase for determining benefit obligation | 3.00% | 3.00% | 3.00% | 3.00% | ||
Discretionary contributions to postretirement plan | $ 425,000,000 | $ 200,000,000 | ||||
Debt-financed shares held by ESOPs (allocated or unallocated) | 0 | $ 0 | ||||
Benefit cost of the contributory savings plans | 814,000,000 | $ 793,000,000 | 724,000,000 | |||
Forecast | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Increase (decrease) in plan benefit obligations due to change in assumed rates | $ 277,000,000 | |||||
Assumptions used, percentage change in weighted-average interest crediting rate that would impact pension benefit obligation | (0.50%) | |||||
Pension Benefits | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Special termination benefits | 0 | 81,000,000 | ||||
Accumulated benefit obligation for pension plans | $ 60,848,000,000 | $ 58,150,000,000 | 60,848,000,000 | 58,150,000,000 | ||
Combined net pension and postretirement cost | $ 1,450,000,000 | $ 2,393,000,000 | $ (909,000,000) | |||
Discount rate for determining projected benefit obligation | 2.70% | 3.40% | 2.70% | 3.40% | 4.50% | |
Decrease in discount rate over prior year | 0.70% | 1.10% | ||||
Increase (decrease) in plan benefit obligations due to change in assumed rates | $ 5,594,000,000 | $ 8,018,000,000 | ||||
Long-term rate of return on plan assets | 7.00% | 7.00% | 7.00% | |||
Composite rate of compensation increase for determining benefit obligation | 3.00% | 3.00% | 3.00% | 3.00% | 3.00% | |
Preferred equity interest value | $ 54,606,000,000 | $ 53,530,000,000 | $ 54,606,000,000 | $ 53,530,000,000 | $ 51,681,000,000 | |
Aggregate percentage of the fair value of investments to the fair value of total plan assets held as of the measurement date | 11.00% | 11.00% | ||||
Pension Benefits | Level 3 | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Preferred equity interest value | $ 8,390,000,000 | 11,639,000,000 | $ 8,390,000,000 | 11,639,000,000 | 11,333,000,000 | |
Pension Benefits | Preferred interest | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Preferred equity interest value | 5,771,000,000 | 8,806,000,000 | 5,771,000,000 | 8,806,000,000 | ||
Pension Benefits | Preferred interest | Level 3 | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Preferred equity interest value | $ 5,771,000,000 | 8,806,000,000 | 5,771,000,000 | 8,806,000,000 | ||
Pension Benefits | Mobility II, LLC | Preferred interest | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Preferred equity interest value held by pension trust | $ 8,806,000,000 | 8,806,000,000 | ||||
Value of portion of preferred interest sold to third party investors | 2,885,000,000 | |||||
Pension Benefits | Forecast | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Long-term rate of return on plan assets | 6.75% | |||||
Downward adjustment to expected long-term rate of return on plan assets | 0.25% | |||||
Postretirement Benefits | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Special termination benefits | 0 | 0 | ||||
Combined net pension and postretirement cost | $ (739,000,000) | $ 369,000,000 | $ (3,342,000,000) | |||
Discount rate for determining projected benefit obligation | 2.40% | 3.20% | 2.40% | 3.20% | 4.40% | |
Decrease in discount rate over prior year | 0.80% | 1.20% | ||||
Increase (decrease) in plan benefit obligations due to change in assumed rates | $ 1,311,000,000 | $ 2,399,000,000 | ||||
Long-term rate of return on plan assets | 4.75% | 5.75% | 5.75% | |||
Composite rate of compensation increase for determining benefit obligation | 3.00% | 3.00% | 3.00% | 3.00% | 3.00% | |
Preferred equity interest value | $ 3,843,000,000 | $ 4,145,000,000 | $ 3,843,000,000 | $ 4,145,000,000 | $ 4,277,000,000 | |
Aggregate percentage of the fair value of investments to the fair value of total plan assets held as of the measurement date | 1.00% | 1.00% | ||||
Postretirement Benefits | Level 3 | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Preferred equity interest value | $ 4,000,000 | $ 32,000,000 | $ 4,000,000 | 32,000,000 | 13,000,000 | |
Postretirement Benefits | Forecast | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Long-term rate of return on plan assets | 4.50% | |||||
Downward adjustment to expected long-term rate of return on plan assets | 0.25% | |||||
Healthcare Benefits | Prescription Drug Cost - Eligible Participants | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Increase (decrease) in plan benefit obligations due to change in assumed rates | $ (102,000,000) | |||||
Assumed annual and ultimate health care cost trend rate for next fiscal year | 4.00% | 4.00% | ||||
Estimated annual growth rate for health care cost | 4.00% | 4.50% | 4.00% | 4.50% | ||
Healthcare Benefits | Medical Cost - Eligible Participants | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Increase (decrease) in plan benefit obligations due to change in assumed rates | $ (102,000,000) | |||||
Assumed annual and ultimate health care cost trend rate for next fiscal year | 4.00% | 4.00% | ||||
Estimated annual growth rate for health care cost | 4.00% | 4.50% | 4.00% | 4.50% | ||
Healthcare Benefits | Administrative Expense | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Percent of growth assumed | 2.50% | |||||
Healthcare Benefits | Administrative Expense | Forecast | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Percent of growth assumed | 2.50% | |||||
Healthcare Benefits | Dental Claims | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Percent of growth assumed | 3.00% | |||||
Healthcare Benefits | Dental Claims | Forecast | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Percent of growth assumed | 3.00% | |||||
Supplemental Employee Retirement Plan | ||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||
Combined net pension and postretirement cost | $ 330,000,000 | $ 438,000,000 | ||||
Discount rate for determining projected benefit obligation | 2.30% | 3.20% | 2.30% | 3.20% | ||
Projected benefit obligation | $ 2,687,000,000 | $ 2,605,000,000 | $ 2,687,000,000 | $ 2,605,000,000 | ||
Deferred compensation expense | $ 183,000,000 | $ 199,000,000 | $ 128,000,000 |
Pension And Postretirement Be_4
Pension And Postretirement Benefits (Change In The Projected Benefit Obligation) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | |||
Actuarial (gain) loss | $ 4,169 | $ 5,171 | $ (3,412) |
Pension Benefits | |||
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | |||
Benefit obligation at beginning of year | 59,873 | 55,439 | |
Service cost - benefits earned during the period | 1,029 | 1,019 | 1,116 |
Interest cost on projected benefit obligation | 1,687 | 1,960 | 2,092 |
Amendments | (340) | 0 | |
Actuarial (gain) loss | 5,054 | 7,734 | |
Special termination benefits | 0 | 81 | |
Benefits paid | (5,124) | (6,356) | |
Curtailment | (1) | 0 | |
Plan transfers | (20) | (4) | |
Benefit obligation at end of year | 62,158 | 59,873 | 55,439 |
Postretirement Benefits | |||
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | |||
Benefit obligation at beginning of year | 16,041 | 19,378 | |
Service cost - benefits earned during the period | 53 | 71 | 109 |
Interest cost on projected benefit obligation | 416 | 675 | 778 |
Amendments | (2,655) | (4,590) | |
Actuarial (gain) loss | 1,423 | 2,050 | |
Special termination benefits | 0 | 0 | |
Benefits paid | (1,370) | (1,543) | |
Curtailment | 0 | 0 | |
Plan transfers | 20 | 0 | |
Benefit obligation at end of year | $ 13,928 | $ 16,041 | $ 19,378 |
Pension And Postretirement Be_5
Pension And Postretirement Benefits (Change In The Value Of Plan Assets And The Plans' Funded Status) (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Pension Benefits | ||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||
Fair value of plan assets at beginning of year | $ 53,530 | $ 51,681 |
Actual return on plan assets | 6,199 | 8,207 |
Benefits paid | (5,124) | (6,356) |
Contributions | 2 | 2 |
Plan transfers | (1) | (4) |
Fair value of plan assets at end of year | 54,606 | 53,530 |
Unfunded status at end of year | (7,552) | (6,343) |
Postretirement Benefits | ||
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | ||
Fair value of plan assets at beginning of year | 4,145 | 4,277 |
Actual return on plan assets | 302 | 609 |
Benefits paid | (1,029) | (941) |
Contributions | 425 | 200 |
Plan transfers | 0 | 0 |
Fair value of plan assets at end of year | 3,843 | 4,145 |
Unfunded status at end of year | $ (10,085) | $ (11,896) |
Pension And Postretirement Be_6
Pension And Postretirement Benefits (Employee Benefit Obligation Amounts Recognized) (Details) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Defined Benefit Plan Disclosure [Line Items] | ||
Pension obligations and other postemployment obligations | $ 1,415 | $ 1,528 |
Pension Benefits | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Current portion of employee benefit obligation | 0 | 0 |
Employee benefit obligation | (7,552) | (6,343) |
Net amount recognized | (7,552) | (6,343) |
Pension Benefits | International | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Pension obligations and other postemployment obligations | 553 | |
Postretirement Benefits | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Current portion of employee benefit obligation | (1,213) | (1,365) |
Employee benefit obligation | (8,872) | (10,531) |
Net amount recognized | (10,085) | $ (11,896) |
Postretirement Benefits | International | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Pension obligations and other postemployment obligations | $ 1,299 |
Pension And Postretirement Be_7
Pension And Postretirement Benefits (Net Periodic Benefit Cost (Credit)) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Defined Benefit Plan Disclosure [Line Items] | |||
Net pension and postretirement cost (credit) | $ 711 | $ 2,762 | $ (4,251) |
Pension Benefits | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Service cost – benefits earned during the period | 1,029 | 1,019 | 1,116 |
Interest cost on projected benefit obligation | 1,687 | 1,960 | 2,092 |
Expected return on assets | (3,557) | (3,561) | (3,190) |
Amortization of prior service credit | (113) | (113) | (115) |
Actuarial (gain) loss | 2,404 | 3,088 | (812) |
Net pension and postretirement cost (credit) | 1,450 | 2,393 | (909) |
Curtailment gain | (1) | ||
Special termination benefits | 81 | ||
Postretirement Benefits | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Service cost – benefits earned during the period | 53 | 71 | 109 |
Interest cost on projected benefit obligation | 416 | 675 | 778 |
Expected return on assets | (178) | (227) | (304) |
Amortization of prior service credit | (2,329) | (1,820) | (1,635) |
Actuarial (gain) loss | 1,299 | 1,670 | (2,290) |
Net pension and postretirement cost (credit) | $ (739) | $ 369 | $ (3,342) |
Pension And Postretirement Be_8
Pension And Postretirement Benefits (Other Changes Recognized in Other Comprehensive Income) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Accumulated Other Comprehensive (Income) Loss, Defined Benefit Plan, after Tax [Roll Forward] | |||
Prior service (cost) credit | $ 2,250 | $ 3,457 | $ 830 |
Amortization of prior service credit | (1,841) | (1,459) | (1,322) |
Pension Benefits | |||
Accumulated Other Comprehensive (Income) Loss, Defined Benefit Plan, after Tax [Roll Forward] | |||
Balance at beginning of year | 361 | 447 | 571 |
Prior service (cost) credit | 250 | 0 | (37) |
Amortization of prior service credit | (86) | (86) | (87) |
Total recognized in other comprehensive (income) loss | 164 | (86) | (124) |
Balance at end of year | 525 | 361 | 447 |
Postretirement Benefits | |||
Accumulated Other Comprehensive (Income) Loss, Defined Benefit Plan, after Tax [Roll Forward] | |||
Balance at beginning of year | 8,171 | 6,086 | 6,456 |
Prior service (cost) credit | 2,001 | 3,457 | 864 |
Amortization of prior service credit | (1,756) | (1,372) | (1,234) |
Total recognized in other comprehensive (income) loss | 245 | 2,085 | (370) |
Balance at end of year | $ 8,416 | $ 8,171 | $ 6,086 |
Pension and Postretirement Be_9
Pension and Postretirement Benefits (Weighted Average Assumptions - Projected Benefit Obligation And Net Pension And Postemployment Benefit Cost) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||||
Dec. 31, 2019 | Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Sep. 30, 2019 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Defined Benefit Plan Disclosure [Line Items] | ||||||||
Composite rate of compensation increase for determining benefit obligation | 3.00% | 3.00% | 3.00% | |||||
Pension Benefits | ||||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||||
Weighted-average discount rate for determining benefit obligation at December 31 | 3.40% | 2.70% | 3.40% | 4.50% | ||||
Weighted-average interest credit rate for cash balance pension programs | 3.30% | 3.10% | 3.30% | 3.70% | ||||
Long-term rate of return on plan assets | 7.00% | 7.00% | 7.00% | |||||
Composite rate of compensation increase for determining benefit obligation | 3.00% | 3.00% | 3.00% | 3.00% | ||||
Composite rate of compensation increase for determining net cost (benefit) | 3.00% | 3.00% | 3.00% | |||||
Assumptions used, percentage change in weighted-average interest crediting rate that would impact pension benefit obligation | 0.50% | |||||||
Effect of 0.50% increase in weighted-average interest crediting rate, increase to pension benefit obligation | $ 130 | |||||||
Pension Benefits | Service Cost | ||||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||||
Discount rate in effect for determining net cost | 3.50% | 3.90% | 4.30% | 4.60% | 3.60% | 4.10% | 4.20% | |
Pension Benefits | Interest Cost | ||||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||||
Discount rate in effect for determining net cost | 3.00% | 3.20% | 3.70% | 4.20% | 2.90% | 3.50% | 3.80% | |
Postretirement Benefits | ||||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||||
Weighted-average discount rate for determining benefit obligation at December 31 | 3.20% | 2.40% | 3.20% | 4.40% | ||||
Weighted-average interest credit rate for cash balance pension programs | 0.00% | 0.00% | 0.00% | 0.00% | ||||
Long-term rate of return on plan assets | 4.75% | 5.75% | 5.75% | |||||
Composite rate of compensation increase for determining benefit obligation | 3.00% | 3.00% | 3.00% | 3.00% | ||||
Composite rate of compensation increase for determining net cost (benefit) | 3.00% | 3.00% | 3.00% | |||||
Postretirement Benefits | Service Cost | ||||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||||
Discount rate in effect for determining net cost | 3.40% | 4.70% | 3.50% | 4.40% | 4.30% | |||
Postretirement Benefits | Interest Cost | ||||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||||
Discount rate in effect for determining net cost | 2.70% | 4.00% | 2.70% | 3.70% | 3.60% |
Pension And Postretirement B_10
Pension And Postretirement Benefits (Schedule Of Defined Benefit Plan Targeted And Actual Plan Asset Allocations) (Details) | Dec. 31, 2020 | Dec. 31, 2019 |
Pension Assets | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual plan asset allocation percentage | 100.00% | 100.00% |
Pension Assets | Domestic | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual plan asset allocation percentage | 19.00% | 17.00% |
Pension Assets | Domestic | Minimum | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual plan asset allocation percentage | 16.00% | |
Pension Assets | Domestic | Maximum | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual plan asset allocation percentage | 26.00% | |
Pension Assets | International | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual plan asset allocation percentage | 15.00% | 12.00% |
Pension Assets | International | Minimum | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual plan asset allocation percentage | 10.00% | |
Pension Assets | International | Maximum | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual plan asset allocation percentage | 20.00% | |
Pension Assets | Fixed income securities | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual plan asset allocation percentage | 35.00% | 35.00% |
Pension Assets | Fixed income securities | Minimum | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual plan asset allocation percentage | 37.00% | |
Pension Assets | Fixed income securities | Maximum | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual plan asset allocation percentage | 47.00% | |
Pension Assets | Real estate and real assets | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual plan asset allocation percentage | 8.00% | 9.00% |
Pension Assets | Real estate and real assets | Minimum | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual plan asset allocation percentage | 8.00% | |
Pension Assets | Real estate and real assets | Maximum | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual plan asset allocation percentage | 18.00% | |
Pension Assets | Private equity | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual plan asset allocation percentage | 9.00% | 8.00% |
Pension Assets | Private equity | Minimum | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual plan asset allocation percentage | 5.00% | |
Pension Assets | Private equity | Maximum | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual plan asset allocation percentage | 15.00% | |
Pension Assets | Preferred interest | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual plan asset allocation percentage | 10.00% | 17.00% |
Pension Assets | Preferred interest | Minimum | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual plan asset allocation percentage | 6.00% | |
Pension Assets | Preferred interest | Maximum | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual plan asset allocation percentage | 16.00% | |
Pension Assets | Other | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual plan asset allocation percentage | 4.00% | 2.00% |
Pension Assets | Other | Minimum | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual plan asset allocation percentage | 0.00% | |
Pension Assets | Other | Maximum | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual plan asset allocation percentage | 5.00% | |
Postretirement (VEBA) Assets | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual plan asset allocation percentage | 100.00% | 100.00% |
Postretirement (VEBA) Assets | Domestic | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual plan asset allocation percentage | 19.00% | 20.00% |
Postretirement (VEBA) Assets | Domestic | Minimum | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual plan asset allocation percentage | 14.00% | |
Postretirement (VEBA) Assets | Domestic | Maximum | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual plan asset allocation percentage | 24.00% | |
Postretirement (VEBA) Assets | International | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual plan asset allocation percentage | 14.00% | 12.00% |
Postretirement (VEBA) Assets | International | Minimum | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual plan asset allocation percentage | 9.00% | |
Postretirement (VEBA) Assets | International | Maximum | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual plan asset allocation percentage | 19.00% | |
Postretirement (VEBA) Assets | Fixed income securities | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual plan asset allocation percentage | 45.00% | 52.00% |
Postretirement (VEBA) Assets | Fixed income securities | Minimum | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual plan asset allocation percentage | 40.00% | |
Postretirement (VEBA) Assets | Fixed income securities | Maximum | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual plan asset allocation percentage | 50.00% | |
Postretirement (VEBA) Assets | Real estate and real assets | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual plan asset allocation percentage | 1.00% | 1.00% |
Postretirement (VEBA) Assets | Real estate and real assets | Minimum | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual plan asset allocation percentage | 0.00% | |
Postretirement (VEBA) Assets | Real estate and real assets | Maximum | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual plan asset allocation percentage | 6.00% | |
Postretirement (VEBA) Assets | Private equity | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual plan asset allocation percentage | 1.00% | 2.00% |
Postretirement (VEBA) Assets | Private equity | Minimum | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual plan asset allocation percentage | 0.00% | |
Postretirement (VEBA) Assets | Private equity | Maximum | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual plan asset allocation percentage | 6.00% | |
Postretirement (VEBA) Assets | Preferred interest | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual plan asset allocation percentage | 0.00% | 0.00% |
Postretirement (VEBA) Assets | Preferred interest | Minimum | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual plan asset allocation percentage | 0.00% | |
Postretirement (VEBA) Assets | Preferred interest | Maximum | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual plan asset allocation percentage | 0.00% | |
Postretirement (VEBA) Assets | Other | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual plan asset allocation percentage | 20.00% | 13.00% |
Postretirement (VEBA) Assets | Other | Minimum | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual plan asset allocation percentage | 15.00% | |
Postretirement (VEBA) Assets | Other | Maximum | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Actual plan asset allocation percentage | 25.00% |
Pension And Postretirement B_11
Pension And Postretirement Benefits (Schedule Of Fair Value Of Pension And Postretirement Assets And Liabilities By Level) (Details) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Pension Benefits | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | $ 54,606 | $ 53,530 | $ 51,681 |
Pension Benefits | Assets at fair value | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 42,793 | 43,195 | |
Pension Benefits | Non-interest bearing cash | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 173 | 85 | |
Pension Benefits | Interest bearing cash | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 7 | 529 | |
Pension Benefits | Foreign currency contracts | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 3 | 5 | |
Pension Benefits | Equity securities: Domestic equities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 9,795 | 8,072 | |
Pension Benefits | Equity securities: International equities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 4,844 | 3,946 | |
Pension Benefits | Preferred interest | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 5,771 | 8,806 | |
Pension Benefits | Fixed income securities: Corporate bonds and other investments | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 11,095 | 10,473 | |
Pension Benefits | Fixed income securities: Government and municipal bonds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 6,039 | 6,172 | |
Pension Benefits | Fixed income securities: Mortgage-backed securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 443 | 524 | |
Pension Benefits | Real estate and real assets | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 2,544 | 2,817 | |
Pension Benefits | Securities lending collateral | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 2,056 | 1,761 | |
Pension Benefits | Receivable for variation margin | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 23 | 5 | |
Pension Benefits | Investments sold short and other liabilities at fair value | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | (459) | (515) | |
Pension Benefits | Private equity funds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | $ 5,154 | $ 4,544 | |
Defined Benefit Plan, Plan Assets, Fair Value by Hierarchy and NAV [Extensible List] | Assets held at net asset value practical expedient | Assets held at net asset value practical expedient | |
Pension Benefits | Real estate funds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | $ 1,694 | $ 2,062 | |
Defined Benefit Plan, Plan Assets, Fair Value by Hierarchy and NAV [Extensible List] | Assets held at net asset value practical expedient | Assets held at net asset value practical expedient | |
Pension Benefits | Commingled funds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | $ 7,706 | $ 5,710 | |
Defined Benefit Plan, Plan Assets, Fair Value by Hierarchy and NAV [Extensible List] | Assets held at net asset value practical expedient | Assets held at net asset value practical expedient | |
Pension Benefits | Other assets (liabilities) | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | $ (2,282) | $ (1,466) | |
Postretirement Benefits | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 3,843 | 4,145 | 4,277 |
Postretirement Benefits | Assets at fair value | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 2,020 | 2,301 | |
Postretirement Benefits | Interest bearing cash | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 799 | 549 | |
Postretirement Benefits | Equity securities: Domestic equities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 363 | 438 | |
Postretirement Benefits | Equity securities: International equities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 282 | 265 | |
Postretirement Benefits | Fixed income securities: Corporate bonds and other investments | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 315 | 530 | |
Postretirement Benefits | Fixed income securities: Government and municipal bonds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 139 | 189 | |
Postretirement Benefits | Fixed income securities: Mortgage-backed securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 94 | 294 | |
Postretirement Benefits | Securities lending collateral | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 28 | 36 | |
Postretirement Benefits | Securities lending payable and other liabilities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | (30) | (36) | |
Postretirement Benefits | Private equity funds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | $ 24 | $ 66 | |
Defined Benefit Plan, Plan Assets, Fair Value by Hierarchy and NAV [Extensible List] | Assets held at net asset value practical expedient | Assets held at net asset value practical expedient | |
Postretirement Benefits | Real estate funds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | $ 22 | $ 27 | |
Defined Benefit Plan, Plan Assets, Fair Value by Hierarchy and NAV [Extensible List] | Assets held at net asset value practical expedient | Assets held at net asset value practical expedient | |
Postretirement Benefits | Commingled funds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | $ 1,843 | $ 1,797 | |
Defined Benefit Plan, Plan Assets, Fair Value by Hierarchy and NAV [Extensible List] | Assets held at net asset value practical expedient | Assets held at net asset value practical expedient | |
Postretirement Benefits | Other assets (liabilities) | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | $ (36) | $ (10) | |
Level 1, 2, and 3 | Pension Benefits | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 42,334 | 42,680 | |
Level 1, 2, and 3 | Postretirement Benefits | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 1,990 | 2,265 | |
Level 1 | Pension Benefits | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 14,979 | 12,255 | |
Level 1 | Pension Benefits | Assets at fair value | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 15,429 | 12,768 | |
Level 1 | Pension Benefits | Non-interest bearing cash | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 173 | 85 | |
Level 1 | Pension Benefits | Interest bearing cash | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 7 | 529 | |
Level 1 | Pension Benefits | Foreign currency contracts | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 0 | 0 | |
Level 1 | Pension Benefits | Equity securities: Domestic equities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 9,784 | 8,068 | |
Level 1 | Pension Benefits | Equity securities: International equities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 4,821 | 3,929 | |
Level 1 | Pension Benefits | Preferred interest | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 0 | 0 | |
Level 1 | Pension Benefits | Fixed income securities: Corporate bonds and other investments | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 0 | 0 | |
Level 1 | Pension Benefits | Fixed income securities: Government and municipal bonds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 0 | 49 | |
Level 1 | Pension Benefits | Fixed income securities: Mortgage-backed securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 0 | 0 | |
Level 1 | Pension Benefits | Real estate and real assets | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 0 | 0 | |
Level 1 | Pension Benefits | Securities lending collateral | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 621 | 103 | |
Level 1 | Pension Benefits | Receivable for variation margin | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 23 | 5 | |
Level 1 | Pension Benefits | Investments sold short and other liabilities at fair value | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | (450) | (513) | |
Level 1 | Postretirement Benefits | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 1,152 | 964 | |
Level 1 | Postretirement Benefits | Assets at fair value | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 1,153 | 964 | |
Level 1 | Postretirement Benefits | Interest bearing cash | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 497 | 248 | |
Level 1 | Postretirement Benefits | Equity securities: Domestic equities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 363 | 438 | |
Level 1 | Postretirement Benefits | Equity securities: International equities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 282 | 265 | |
Level 1 | Postretirement Benefits | Fixed income securities: Corporate bonds and other investments | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 5 | 7 | |
Level 1 | Postretirement Benefits | Fixed income securities: Government and municipal bonds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 6 | 6 | |
Level 1 | Postretirement Benefits | Fixed income securities: Mortgage-backed securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 0 | 0 | |
Level 1 | Postretirement Benefits | Securities lending collateral | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 0 | 0 | |
Level 1 | Postretirement Benefits | Securities lending payable and other liabilities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | (1) | 0 | |
Level 2 | Pension Benefits | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 18,965 | 18,786 | |
Level 2 | Pension Benefits | Assets at fair value | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 18,973 | 18,788 | |
Level 2 | Pension Benefits | Non-interest bearing cash | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 0 | 0 | |
Level 2 | Pension Benefits | Interest bearing cash | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 0 | 0 | |
Level 2 | Pension Benefits | Foreign currency contracts | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 3 | 5 | |
Level 2 | Pension Benefits | Equity securities: Domestic equities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 0 | 0 | |
Level 2 | Pension Benefits | Equity securities: International equities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 11 | 11 | |
Level 2 | Pension Benefits | Preferred interest | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 0 | 0 | |
Level 2 | Pension Benefits | Fixed income securities: Corporate bonds and other investments | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 11,043 | 10,469 | |
Level 2 | Pension Benefits | Fixed income securities: Government and municipal bonds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 6,039 | 6,123 | |
Level 2 | Pension Benefits | Fixed income securities: Mortgage-backed securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 442 | 522 | |
Level 2 | Pension Benefits | Real estate and real assets | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 0 | 0 | |
Level 2 | Pension Benefits | Securities lending collateral | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 1,435 | 1,658 | |
Level 2 | Pension Benefits | Receivable for variation margin | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 0 | 0 | |
Level 2 | Pension Benefits | Investments sold short and other liabilities at fair value | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | (8) | (2) | |
Level 2 | Postretirement Benefits | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 834 | 1,269 | |
Level 2 | Postretirement Benefits | Assets at fair value | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 863 | 1,305 | |
Level 2 | Postretirement Benefits | Interest bearing cash | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 302 | 301 | |
Level 2 | Postretirement Benefits | Equity securities: Domestic equities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 0 | 0 | |
Level 2 | Postretirement Benefits | Equity securities: International equities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 0 | 0 | |
Level 2 | Postretirement Benefits | Fixed income securities: Corporate bonds and other investments | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 307 | 492 | |
Level 2 | Postretirement Benefits | Fixed income securities: Government and municipal bonds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 132 | 182 | |
Level 2 | Postretirement Benefits | Fixed income securities: Mortgage-backed securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 94 | 294 | |
Level 2 | Postretirement Benefits | Securities lending collateral | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 28 | 36 | |
Level 2 | Postretirement Benefits | Securities lending payable and other liabilities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | (29) | (36) | |
Level 3 | Pension Benefits | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 8,390 | 11,639 | 11,333 |
Level 3 | Pension Benefits | Assets at fair value | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 8,391 | 11,639 | |
Level 3 | Pension Benefits | Non-interest bearing cash | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 0 | 0 | |
Level 3 | Pension Benefits | Interest bearing cash | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 0 | 0 | |
Level 3 | Pension Benefits | Foreign currency contracts | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 0 | 0 | |
Level 3 | Pension Benefits | Equity securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 5,793 | 8,816 | 8,750 |
Level 3 | Pension Benefits | Equity securities: Domestic equities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 11 | 4 | |
Level 3 | Pension Benefits | Equity securities: International equities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 12 | 6 | |
Level 3 | Pension Benefits | Preferred interest | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 5,771 | 8,806 | |
Level 3 | Pension Benefits | Fixed Income Funds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 53 | 6 | 4 |
Level 3 | Pension Benefits | Fixed income securities: Corporate bonds and other investments | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 52 | 4 | |
Level 3 | Pension Benefits | Fixed income securities: Government and municipal bonds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 0 | 0 | |
Level 3 | Pension Benefits | Fixed income securities: Mortgage-backed securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 1 | 2 | |
Level 3 | Pension Benefits | Real estate and real assets | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 2,544 | 2,817 | 2,579 |
Level 3 | Pension Benefits | Securities lending collateral | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 0 | 0 | |
Level 3 | Pension Benefits | Receivable for variation margin | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 0 | 0 | |
Level 3 | Pension Benefits | Investments sold short and other liabilities at fair value | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | (1) | 0 | |
Level 3 | Postretirement Benefits | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 4 | 32 | 13 |
Level 3 | Postretirement Benefits | Assets at fair value | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 4 | 32 | |
Level 3 | Postretirement Benefits | Interest bearing cash | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 0 | 0 | |
Level 3 | Postretirement Benefits | Equity securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 0 | 0 | 1 |
Level 3 | Postretirement Benefits | Equity securities: Domestic equities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 0 | 0 | |
Level 3 | Postretirement Benefits | Equity securities: International equities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 0 | 0 | |
Level 3 | Postretirement Benefits | Fixed Income Funds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 4 | 32 | 12 |
Level 3 | Postretirement Benefits | Fixed income securities: Corporate bonds and other investments | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 3 | 31 | |
Level 3 | Postretirement Benefits | Fixed income securities: Government and municipal bonds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 1 | 1 | |
Level 3 | Postretirement Benefits | Fixed income securities: Mortgage-backed securities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 0 | 0 | |
Level 3 | Postretirement Benefits | Real estate and real assets | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 0 | 0 | $ 0 |
Level 3 | Postretirement Benefits | Securities lending collateral | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 0 | 0 | |
Level 3 | Postretirement Benefits | Securities lending payable and other liabilities | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 0 | 0 | |
Assets held at net asset value practical expedient | Pension Benefits | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | 14,554 | 12,316 | |
Assets held at net asset value practical expedient | Postretirement Benefits | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Total Plan Net Assets | $ 1,889 | $ 1,890 |
Pension And Postretirement B_12
Pension And Postretirement Benefits (Fair Value Assets Measured On Recurring Basis Unobservable Input (Level 3) Reconciliation) (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Pension Assets | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Fair value of plan assets at beginning of year | $ 53,530 | $ 51,681 |
Fair value of plan assets at end of year | 54,606 | 53,530 |
Pension Assets | Level 3 | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Fair value of plan assets at beginning of year | 11,639 | 11,333 |
Realized gains (losses) | 105 | 64 |
Unrealized gains (losses) | (175) | 103 |
Transfers in | 91 | 147 |
Transfers out | (3) | (6) |
Purchases | 9,338 | 235 |
Sales | (12,605) | (237) |
Fair value of plan assets at end of year | 8,390 | 11,639 |
Pension Assets | Equity securities | Level 3 | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Fair value of plan assets at beginning of year | 8,816 | 8,750 |
Realized gains (losses) | (150) | 0 |
Unrealized gains (losses) | 3 | 58 |
Transfers in | 4 | 8 |
Transfers out | 0 | 0 |
Purchases | 9,114 | 0 |
Sales | (11,994) | 0 |
Fair value of plan assets at end of year | 5,793 | 8,816 |
Pension Assets | Fixed Income Funds | Level 3 | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Fair value of plan assets at beginning of year | 6 | 4 |
Realized gains (losses) | 0 | 0 |
Unrealized gains (losses) | 0 | 0 |
Transfers in | 51 | 5 |
Transfers out | (3) | (6) |
Purchases | 1 | 7 |
Sales | (2) | (4) |
Fair value of plan assets at end of year | 53 | 6 |
Pension Assets | Real Estate and Real Assets | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Fair value of plan assets at beginning of year | 2,817 | |
Fair value of plan assets at end of year | 2,544 | 2,817 |
Pension Assets | Real Estate and Real Assets | Level 3 | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Fair value of plan assets at beginning of year | 2,817 | 2,579 |
Realized gains (losses) | 255 | 64 |
Unrealized gains (losses) | (178) | 45 |
Transfers in | 36 | 134 |
Transfers out | 0 | 0 |
Purchases | 223 | 228 |
Sales | (609) | (233) |
Fair value of plan assets at end of year | 2,544 | 2,817 |
Postretirement Assets | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Fair value of plan assets at beginning of year | 4,145 | 4,277 |
Fair value of plan assets at end of year | 3,843 | 4,145 |
Postretirement Assets | Level 3 | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Fair value of plan assets at beginning of year | 32 | 13 |
Transfers in | 3 | 28 |
Transfers out | (11) | (1) |
Sales | (20) | (8) |
Fair value of plan assets at end of year | 4 | 32 |
Postretirement Assets | Equity securities | Level 3 | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Fair value of plan assets at beginning of year | 0 | 1 |
Transfers in | 0 | 0 |
Transfers out | 0 | 0 |
Sales | 0 | (1) |
Fair value of plan assets at end of year | 0 | 0 |
Postretirement Assets | Fixed Income Funds | Level 3 | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Fair value of plan assets at beginning of year | 32 | 12 |
Transfers in | 3 | 28 |
Transfers out | (11) | (1) |
Sales | (20) | (7) |
Fair value of plan assets at end of year | 4 | 32 |
Postretirement Assets | Real Estate and Real Assets | Level 3 | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Fair value of plan assets at beginning of year | 0 | 0 |
Transfers in | 0 | 0 |
Transfers out | 0 | 0 |
Sales | 0 | 0 |
Fair value of plan assets at end of year | $ 0 | $ 0 |
Pension And Postretirement B_13
Pension And Postretirement Benefits (Estimated Future Benefit Payments) (Details) $ in Millions | Dec. 31, 2020USD ($) |
Pension Benefits | |
Defined Benefit Plan Disclosure [Line Items] | |
2021 | $ 5,391 |
2022 | 4,597 |
2023 | 4,428 |
2024 | 4,323 |
2025 | 4,234 |
Years 2026 - 2030 | 19,646 |
Postretirement Benefits | |
Defined Benefit Plan Disclosure [Line Items] | |
2021 | 1,392 |
2022 | 1,231 |
2023 | 1,159 |
2024 | 879 |
2025 | 832 |
Years 2026 - 2030 | $ 3,651 |
Share-Based Payments (Narrative
Share-Based Payments (Narrative) (Details) - USD ($) shares in Millions, $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Number of authorized shares of common stock for share-based payment arrangements (in shares) | 183 | ||
Total unrecognized compensation cost related to nonvested share-based payment arrangements granted | $ 709 | ||
Weighted-average period to recognize the cost (years) - nonvested units | 2 years 1 month 2 days | ||
Total fair value of shares vested during the year - nonvested units | $ 647 | $ 798 | $ 766 |
Cash proceeds from exercise of stock options | $ 65 | $ 446 | $ 361 |
Restricted stock and stock units | Minimum | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Vesting period | 4 years | ||
Restricted stock and stock units | Maximum | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Vesting period | 5 years | ||
Restricted stock and stock units | Time Warner | Minimum | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Vesting period | 1 year | ||
Restricted stock and stock units | Time Warner | Maximum | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Vesting period | 4 years | ||
Stock options | Time Warner | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Vesting period | 1 year | ||
Performance stock units | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Vesting period | 3 years | ||
Other nonvested stock units | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Vesting period | 3 years |
Share-Based Payments (Compensat
Share-Based Payments (Compensation Cost And Valuation Assumption) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Total | $ 638 | $ 819 | $ 463 |
Income tax benefit | 157 | 202 | 114 |
Performance stock units | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Total | 348 | 544 | 301 |
Restricted stock and stock units | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Total | 290 | 273 | 153 |
Other nonvested stock units | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Total | 0 | 7 | 4 |
Stock options | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Total | $ 0 | $ (5) | $ 5 |
Share-Based Payments (Summary O
Share-Based Payments (Summary Of Nonvested Stock Units Activity) (Details) shares in Millions | 12 Months Ended |
Dec. 31, 2020$ / sharesshares | |
Shares | |
Nonvested at beginning of period (in shares) | shares | 42 |
Granted (in shares) | shares | 23 |
Vested (in shares) | shares | (18) |
Forfeited (in shares) | shares | (4) |
Nonvested at end of period (in shares) | shares | 43 |
Weighted-Average Grant- Date Fair Value | |
Nonvested at beginning of period (in dollars per share) | $ / shares | $ 33.80 |
Granted (in dollars per share) | $ / shares | 36.90 |
Vested (in dollars per share) | $ / shares | 35.87 |
Forfeited (in dollars per share) | $ / shares | 34.48 |
Nonvested at end of period (in dollars per share) | $ / shares | $ 34.50 |
Stockholders' Equity (Narrative
Stockholders' Equity (Narrative) (Details) $ / shares in Units, € / shares in Thousands, $ in Millions | Nov. 06, 2020USD ($) | Oct. 31, 2020USD ($) | Dec. 31, 2020USD ($)$ / sharesshares | Sep. 30, 2020USD ($)period | Dec. 31, 2019USD ($)$ / sharesshares | Sep. 30, 2019USD ($) | Dec. 31, 2020USD ($)$ / sharesshares | Dec. 31, 2019USD ($)period$ / sharesshares | Dec. 31, 2018USD ($)$ / shares | Dec. 31, 2020€ / sharesshares |
Class of Stock [Line Items] | ||||||||||
Common stock, authorized (in shares) | shares | 14,000,000,000 | 14,000,000,000 | 14,000,000,000 | 14,000,000,000 | 14,000,000,000 | |||||
Preferred stock, authorized (in shares) | shares | 10,000,000 | 10,000,000 | 10,000,000 | 10,000,000 | 10,000,000 | |||||
Common stock, par value (in dollars per share) | $ / shares | $ 1 | $ 1 | $ 1 | $ 1 | ||||||
Preferred stock, par value (in dollars per share) | $ / shares | $ 1 | $ 1 | $ 1 | 1 | ||||||
Period post issuance date that preferred shares are optionally redeemable at liquidation price | 5 years | |||||||||
Equity, Class of Treasury Stock [Line Items] | ||||||||||
Repurchase of common stock (in shares) | shares | 142,000,000 | |||||||||
Amount repurchased | $ 5,278 | |||||||||
Preferred stock, quarterly dividend declared | $ 36 | $ 8 | ||||||||
Common stock, quarterly dividend declared per common shares (in dollars per share) | $ / shares | $ 0.52 | $ 0.52 | $ 2.08 | $ 2.05 | $ 2.01 | |||||
Noncontrolling Interest [Line Items] | ||||||||||
Redemption of nonconvertible cumulative preferred interests in subsidiary | $ 1,950 | $ 0 | $ 0 | |||||||
Discontinued Operations, Disposed of by Sale | Puerto Rico And U.S. Virgin Islands Operations | ||||||||||
Noncontrolling Interest [Line Items] | ||||||||||
Redemption of nonconvertible cumulative preferred interests in subsidiary | $ 1,950 | $ 1,950 | ||||||||
Stock Repurchase Program, March 2013 | ||||||||||
Equity, Class of Treasury Stock [Line Items] | ||||||||||
Shares authorized for repurchase (in shares) | shares | 300,000,000 | 300,000,000 | 300,000,000 | |||||||
Stock Repurchase Program, March 2014 | ||||||||||
Equity, Class of Treasury Stock [Line Items] | ||||||||||
Shares authorized for repurchase (in shares) | shares | 300,000,000 | 300,000,000 | 300,000,000 | |||||||
Amount outstanding (in shares) | shares | 178,000,000 | 178,000,000 | 178,000,000 | |||||||
Tower Holdings | ||||||||||
Noncontrolling Interest [Line Items] | ||||||||||
Preferred interest issued | $ 6,000 | 6,000 | ||||||||
Fixed future purchase option price | $ 6,000 | |||||||||
Distribution reset period | 5 years | |||||||||
Period post issuance date that preferred interests can be called at issue price | 5 years | |||||||||
Option to require redemption, certain contingent events, failure of subsidiary to pay preferred distributions, minimum number of periods | period | 2 | |||||||||
Telco LLC | ||||||||||
Noncontrolling Interest [Line Items] | ||||||||||
Preferred interest issued | $ 2,000 | |||||||||
Initial preferred distribution percentage | 4.25% | |||||||||
Distribution reset period | 7 years | |||||||||
Period post issuance date that preferred interests can be called at issue price | 7 years | |||||||||
Option to require redemption, certain contingent events, failure of subsidiary to pay preferred distributions, minimum number of periods | period | 2 | |||||||||
PR Holdings | ||||||||||
Noncontrolling Interest [Line Items] | ||||||||||
Preferred interest issued | $ 1,950 | $ 1,950 | ||||||||
Initial preferred distribution percentage | 4.75% | |||||||||
Preferred Stock – Series A | ||||||||||
Class of Stock [Line Items] | ||||||||||
Preferred stock, outstanding (in shares) | shares | 48,000 | 48,000 | 48,000 | 48,000 | 48,000 | |||||
Preferred stock, liquidation preference per share (in dollars/Euros per share) | $ / shares | $ 25,000 | $ 25,000 | ||||||||
Preferred stock, dividend rate | 5.00% | |||||||||
Preferred Stock – Series A | Mobility II, LLC | ||||||||||
Noncontrolling Interest [Line Items] | ||||||||||
Preferred interest, securities issued (in shares) | shares | 320,000,000 | 320,000,000 | 320,000,000 | |||||||
Preferred interest distributions | $ 560 | |||||||||
Put or redemption option, minimum exercise price calculation, value added to accrued and unpaid distributions (in dollars per share) | $ / shares | $ 25 | |||||||||
Put or redemption option, minimum exercise price calculation, value added to accrued and unpaid distributions in the aggregate | $ 8,000 | |||||||||
Maximum shares of common stock required to deliver to settle put and redemption options (in shares) | shares | 250,000,000 | |||||||||
Class A-1 | Tower Holdings | ||||||||||
Noncontrolling Interest [Line Items] | ||||||||||
Preferred interest issued | $ 1,500 | |||||||||
Initial preferred distribution percentage | 5.00% | |||||||||
Class A-2 | Tower Holdings | ||||||||||
Noncontrolling Interest [Line Items] | ||||||||||
Preferred interest issued | $ 4,500 | $ 4,500 | ||||||||
Initial preferred distribution percentage | 4.75% | |||||||||
Preferred Stock – Series B | ||||||||||
Class of Stock [Line Items] | ||||||||||
Preferred stock, outstanding (in shares) | shares | 20,000 | 0 | 20,000 | 0 | 20,000 | |||||
Preferred stock, liquidation preference per share (in dollars/Euros per share) | € / shares | € 100 | |||||||||
Preferred stock, dividend rate | 2.875% | |||||||||
Preferred Stock – Series C | ||||||||||
Class of Stock [Line Items] | ||||||||||
Preferred stock, outstanding (in shares) | shares | 70,000 | 0 | 70,000 | 0 | 70,000 | |||||
Preferred stock, liquidation preference per share (in dollars/Euros per share) | $ / shares | $ 25,000 | $ 25,000 | ||||||||
Preferred stock, dividend rate | 4.75% |
Sales Of Receivables (Equipment
Sales Of Receivables (Equipment Installment and AT&T Revolving Programs) (Details) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Equipment Installment | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Gross receivables | $ 5,565 | $ 4,576 |
Other Assets | 2,295 | 1,632 |
Outstanding portfolio of receivables derecognized from our consolidated balance sheets | 7,827 | 9,713 |
Cash proceeds received, net of remittances | 5,646 | 7,211 |
Equipment Installment | Notes receivable | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Accounts receivable | 2,716 | 2,467 |
Equipment Installment | Trade receivables | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Accounts receivable | 554 | 477 |
Revolving | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Gross receivables | 3,909 | 3,324 |
Other Assets | 194 | 515 |
Outstanding portfolio of receivables derecognized from our consolidated balance sheets | 5,300 | 4,300 |
Cash proceeds received, net of remittances | 5,300 | 4,300 |
Revolving | Notes receivable | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Accounts receivable | 0 | 0 |
Revolving | Trade receivables | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Accounts receivable | $ 3,715 | $ 2,809 |
Sales Of Receivables (Finance R
Sales Of Receivables (Finance Receivables) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Net receivables sold | $ 15,760 | $ 11,604 | $ 0 |
Cash proceeds received | 15,888 | 11,989 | 0 |
Guarantee obligation recorded | 271 | 530 | 0 |
Equipment Installment | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Gross receivables sold | 7,270 | 9,921 | 9,391 |
Net receivables sold | 7,026 | 9,483 | 8,871 |
Cash proceeds received | 6,089 | 8,189 | 7,488 |
Deferred purchase price recorded | 1,021 | 1,451 | 1,578 |
Guarantee obligation recorded | $ 157 | $ 341 | $ 361 |
Sales Of Receivables (Finance_2
Sales Of Receivables (Finance Receivables Repurchased) (Details) - Equipment Installment - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Fair value of repurchased receivables | $ 1,271 | $ 1,418 | $ 1,480 |
Carrying value of deferred purchase price | 1,235 | 1,350 | 1,393 |
Gain on repurchases | $ 36 | $ 68 | $ 87 |
Sales Of Receivables (Equipme_2
Sales Of Receivables (Equipment Installment and AT&T Revolving Programs) (Narrative) (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Equipment Installment Program | Guarantee Obligation | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Guarantee obligation | $ 228 | $ 384 |
Equipment Installment Program | Accounts payable and accrued liabilities | Guarantee Obligation | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Guarantee obligation | 161 | 148 |
Equipment Installment Program | Deferred Purchase Price Receivables | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Deferred purchase price receivable | 1,991 | 2,336 |
Equipment Installment Program | Deferred Purchase Price Receivables | Other current assets | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Deferred purchase price receivable | 1,476 | $ 1,569 |
Revolving Receivables Program | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Revolving agreement, term | 1 year | |
Revolving agreement, transfer amount (up to) | $ 5,300 | $ 4,300 |
Revolving agreement extension term | 1 year | |
Receivables pledged as collateral | $ 3,909 |
Sales Of Receivables (Summary o
Sales Of Receivables (Summary of Receivables Sold) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Receivables [Abstract] | |||
Gross receivables sold/cash proceeds received | $ 15,888 | $ 11,989 | $ 0 |
Collections reinvested under revolving agreement | 14,888 | 7,689 | 0 |
Net cash proceeds received (remitted) | 1,000 | 4,300 | 0 |
Net receivables sold | 15,760 | 11,604 | 0 |
Obligations recorded (reversed) | 271 | 530 | $ 0 |
Initial sale of receivables | $ 1,000 | $ 4,300 |
Tower Transaction (Narrative) (
Tower Transaction (Narrative) (Details) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020USD ($)tower | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | |
Other Liabilities [Line Items] | |||
Balance of tower assets | $ 127,315 | $ 130,128 | $ 131,473 |
Depreciation expense | $ 20,277 | 20,285 | 20,083 |
Crown Castle International | |||
Other Liabilities [Line Items] | |||
Number of wireless towers with exclusive rights to lease | tower | 9,048 | ||
Number of wireless towers subject to disposition | tower | 627 | ||
Cash from failed sale-leaseback | $ 4,827 | ||
Term of lease | 28 years | ||
Approximate fixed future purchase option price on failed sale-leaseback | $ 4,200 | ||
Initial term | 10 years | ||
Balance of tower assets | $ 764 | 804 | |
Depreciation expense | $ 39 | $ 39 | $ 39 |
Approximate annual interest rate - financing obligation | 3.90% | ||
Lease payments | $ 248 | ||
Minimum lease payments - 2021 | 253 | ||
Minimum lease payments - 2022 | 258 | ||
Minimum lease payments - 2023 | 264 | ||
Minimum lease payments - 2024 | 269 | ||
Minimum lease payments - 2025 | 274 | ||
Minimum lease payments - thereafter | $ 856 |
FirstNet (Narrative) (Details)
FirstNet (Narrative) (Details) - Licensing Agreements - FirstNet $ in Millions | 12 Months Ended | |
Dec. 31, 2020USD ($) | Dec. 31, 2017USD ($)milestone | |
Government Contracts Subject to Renegotiation [Line Items] | ||
Term of contract | 25 years | |
Amount of success-based payments expected to be received | $ 6,500 | |
Period over which success-based payments are expected to be received, construction period | 5 years | |
Sustainability payment commitment amount | $ 18,000 | |
Amount estimated to be reinvested into the network | $ 15,000 | |
Amount submitted in sustainability payments | $ 120 | |
Future sustainability payments due in 2021 | 120 | |
Future sustainability payments due in 2022 | 195 | |
Future sustainability payments due in 2023 | 195 | |
Future sustainability payments due in 2024 | 195 | |
Future sustainability payments due in 2025 | 195 | |
Future sustainability payments due thereafter | 16,620 | |
Number of operating capability milestones | milestone | 6 | |
Refunds received under contract | $ 5,000 | |
Expected refund collection period | 2 years | |
Amount expected to receive for reinvestment above original success-based payments | $ 200 | |
Maximum | ||
Government Contracts Subject to Renegotiation [Line Items] | ||
Anticipated amount of operating expenses over life of contract, adjusted for inflation (or less) | $ 3,000 |
Contingent Liabilities (Narrati
Contingent Liabilities (Narrative) (Details) $ in Millions | Dec. 31, 2020USD ($) |
Commitments and Contingencies Disclosure [Abstract] | |
Contractual purchase obligations for 2021 | $ 20,274 |
Contractual purchase obligations for 2022 and 2023 | 21,275 |
Contractual purchase obligations for 2024 and 2025 | 11,142 |
Contractual purchase obligations for total years thereafter | $ 17,919 |
Additional Financial Informat_3
Additional Financial Information (Consolidated Balance Sheets) (Details) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 |
Accounts payable and accrued liabilities: | ||
Accounts payable | $ 31,836 | $ 29,640 |
Accrued payroll and commissions | 2,988 | 3,126 |
Current portion of employee benefit obligation | 1,415 | 1,528 |
Accrued participations and residuals | 2,708 | 2,852 |
Accrued interest | 2,454 | 2,498 |
Other | 7,631 | 6,312 |
Total accounts payable and accrued liabilities | $ 49,032 | $ 45,956 |
Additional Financial Informat_4
Additional Financial Information (Consolidated Statements Of Income) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |||
Advertising expense | $ 5,253 | $ 6,121 | $ 5,100 |
Interest expense incurred | 8,048 | 8,622 | 8,450 |
Capitalized interest | (123) | (200) | (493) |
Total interest expense | $ 7,925 | $ 8,422 | $ 7,957 |
Additional Financial Informat_5
Additional Financial Information (Cash and Cash Equivalents and Restricted Cash) (Details) - USD ($) $ in Millions | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Cash and Cash Equivalents and Restricted Cash | ||||
Cash and cash equivalents | $ 9,740 | $ 12,130 | $ 5,204 | $ 50,498 |
Restricted cash in Other current assets | 9 | 69 | 61 | 6 |
Restricted cash in Other Assets | 121 | 96 | 135 | 428 |
Cash and cash equivalents and restricted cash | $ 9,870 | $ 12,295 | $ 5,400 | $ 50,932 |
Additional Financial Informat_6
Additional Financial Information (Consolidated Statements Of Cash Flows) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Cash paid (received) during the year for: | |||
Interest | $ 8,237 | $ 8,693 | $ 8,818 |
Income taxes, net of refunds | 993 | 1,421 | (354) |
Additional Financial Information [Line Items] | |||
Spectrum acquisitions | 1,851 | 1,809 | 43,309 |
Spectrum Licenses | |||
Additional Financial Information [Line Items] | |||
Spectrum acquisitions | $ 1,613 | $ 1,576 | $ 521 |
Additional Financial Informat_7
Additional Financial Information (Narrative) (Details) employee in Thousands, $ in Millions | 12 Months Ended | |||
Dec. 31, 2020USD ($)employee | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | Jan. 31, 2021employee | |
Additional Financial Information [Line Items] | ||||
Percentage of employees represented by CWA, IBEW, or other unions | 37.00% | |||
Subsequent Event | ||||
Additional Financial Information [Line Items] | ||||
Approximate number of persons employed at a point in time | 230 | |||
Contract Covering Employees in 36 States and District of Columbia | Communications | Mobility | ||||
Additional Financial Information [Line Items] | ||||
Number of employees under contracts where union may call a work stoppage | 14 | |||
Contract Covering Employees in 9 Southeast States | Communications | Mobility | ||||
Additional Financial Information [Line Items] | ||||
Number of employees under contracts where union may call a work stoppage | 10 | |||
Vendor Financing Program | ||||
Additional Financial Information [Line Items] | ||||
Noncash investing activities | $ | $ 4,664 | $ 2,632 | $ 2,162 |
Subsequent Events (Unaudited) (
Subsequent Events (Unaudited) (Details) | Mar. 10, 2021USD ($) | Feb. 24, 2021USD ($)license | Mar. 24, 2021USD ($) | Dec. 31, 2020USD ($) | Dec. 31, 2021USD ($) | Dec. 31, 2022USD ($) | Jun. 21, 2021USD ($) | Jun. 04, 2021USD ($) | May 17, 2021USD ($) | Dec. 31, 2019USD ($) |
Subsequent Event [Line Items] | ||||||||||
Assets | $ 525,761,000,000 | $ 551,669,000,000 | ||||||||
C-Band Licenses | ||||||||||
Subsequent Event [Line Items] | ||||||||||
Payments to acquire intangible assets | 550,000,000 | |||||||||
Video | ||||||||||
Subsequent Event [Line Items] | ||||||||||
Assets | 16,150,000,000 | |||||||||
Liabilities | $ 4,900,000,000 | |||||||||
Subsequent Event | C-Band Licenses | ||||||||||
Subsequent Event [Line Items] | ||||||||||
Winning bidder, number of licenses | license | 1,621 | |||||||||
Estimated relocation costs | $ 3,400,000,000 | |||||||||
Subsequent Event | Phase I Spectrum | ||||||||||
Subsequent Event [Line Items] | ||||||||||
Estimated Incentive Payments upon clearing of spectrum | 955,000,000 | |||||||||
Subsequent Event | Phase II Spectrum | ||||||||||
Subsequent Event [Line Items] | ||||||||||
Estimated Incentive Payments upon clearing of spectrum | $ 2,112,000,000 | |||||||||
Subsequent Event | AT&T Inc | Sale of Business Unit | WarnerMedia | ||||||||||
Subsequent Event [Line Items] | ||||||||||
Disposal Group Proposed Merger Agreement Termination Fee [Line Items] | $ 1,770,000,000 | |||||||||
Subsequent Event | Discovery, Inc. [Member] | Sale of Business Unit | WarnerMedia | ||||||||||
Subsequent Event [Line Items] | ||||||||||
Disposal Group Proposed Merger Agreement Termination Fee [Line Items] | 720,000,000 | |||||||||
Subsequent Event | DIRECTV (New DTV) | ||||||||||
Subsequent Event [Line Items] | ||||||||||
Amount funded by debt taken on by newly formed company | $ 5,800,000,000 | |||||||||
Subsequent Event | Magallanes, Inc. (Spinco) [Member] | Credit agreement borrowings | Bridge Commitment Letter [Member] | ||||||||||
Subsequent Event [Line Items] | ||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 31,500,000,000 | $ 41,500,000,000 | ||||||||
Credit agreement - advances outstanding | 0 | |||||||||
Subsequent Event | Magallanes, Inc. (Spinco) [Member] | Credit agreement borrowings | June 2021 Term Loan [Member] | ||||||||||
Subsequent Event [Line Items] | ||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 10,000,000,000 | |||||||||
Credit agreement - advances outstanding | $ 0 | |||||||||
Subsequent Event | Forecast | C-Band Licenses | ||||||||||
Subsequent Event [Line Items] | ||||||||||
Payments to acquire intangible assets | $ 4,681,000,000 | $ 18,725,000,000 | ||||||||
Subsequent Event | Forecast | Sale of Business Unit | WarnerMedia | ||||||||||
Subsequent Event [Line Items] | ||||||||||
Cash proceeds received at closing | $ 43,000,000,000 | |||||||||
Subsequent Event | Forecast | Sale of Business Unit | Video Business Unit | ||||||||||
Subsequent Event [Line Items] | ||||||||||
Cash proceeds received at closing | 7,600,000,000 | |||||||||
Subsequent Event | Forecast | AT&T Shareholders [Member] | Sale of Business Unit | WarnerMedia | ||||||||||
Subsequent Event [Line Items] | ||||||||||
Economic interest in common units | 71.00% | |||||||||
Subsequent Event | Forecast | Discovery Shareholders [Member] | Sale of Business Unit | WarnerMedia | ||||||||||
Subsequent Event [Line Items] | ||||||||||
Economic interest in common units | 29.00% | |||||||||
Subsequent Event | Forecast | DIRECTV (New DTV) | ||||||||||
Subsequent Event [Line Items] | ||||||||||
Interest in newly formed company, additional distribution preference | $ 4,200,000,000 | |||||||||
Economic interest in common units held after disposal of business unit | 70.00% | |||||||||
Agreement to pay net losses under NFL Sunday Ticket Contract, cap amount | $ 2,500,000,000 | |||||||||
Subsequent Event | Forecast | DIRECTV (New DTV) | TPG Capital | ||||||||||
Subsequent Event [Line Items] | ||||||||||
Cash contribution to newly formed company | $ 1,800,000,000 | |||||||||
Economic interest in common units | 30.00% | |||||||||
Junior Preferred Interests | Subsequent Event | Forecast | DIRECTV (New DTV) | ||||||||||
Subsequent Event [Line Items] | ||||||||||
Preferred interest in newly formed company | $ 4,250,000,000 | |||||||||
Senior Preferred Interests | Subsequent Event | Forecast | DIRECTV (New DTV) | TPG Capital | ||||||||||
Subsequent Event [Line Items] | ||||||||||
Preferred interest in newly formed company | $ 1,800,000,000 |