CINGULAR WIRELESS LLC
EXHIBITS - Cingular Wireless LLC Selected Financial Statements and
Operating Data
EXHIBIT 99.2
CINGULAR WIRELESS LLC INCOME STATEMENT - amounts in millions (unaudited)
QUARTER ENDED YEAR TO DATE
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12/31/2003 12/31/2002 % CHANGE 12/31/2003 12/31/2002 % CHANGE
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Operating revenues:
Service revenues $ 3,534 $ 3,460 2.1% $ 14,223 $ 13,922 2.2%
Equipment sales 378 244 54.9% 1,260 981 28.4%
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Total operating revenues 3,912 3,704 5.6% 15,483 14,903 3.9%
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Operating expenses:
Cost of services 938 1,044 (10.2)% 3,652 3,571 2.3%
Cost of equipment sales 578 361 60.1% 2,031 1,535 32.3%
Selling, general and administrative 1,495 1,316 13.6% 5,422 5,426 (0.1)%
Depreciation and amortization 572 467 22.5% 2,089 1,850 12.9%
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Total operating expenses 3,583 3,188 12.4% 13,194 12,382 6.6%
========== ========== ========== ========== ========== ==========
Operating income 329 516 (36.2)% 2,289 2,521 (9.2)%
Interest expense 204 232 (12.1)% 856 911 (6.0)%
Minority interest expense 17 31 (45.2)% 101 123 (17.9)%
Equity in net income (loss) of affiliates (88) (76) 15.8% (323) (265) 21.9%
Other income (expense), net 4 7 (42.9)% 41 29 41.4%
Income before income tax and cumulative
effect of acctng. chg. 24 184 (87.0)% 1,050 1,251 (16.1)%
Provision for income taxes 8 3 166.7% 28 12 133.3%
Income before cumulative effect of accounting change 16 181 (91.2)% 1,022 1,239 (17.5)%
SELECTED FINANCIAL AND OPERATING DATA FOR CINGULAR WIRELESS -
customer data in 000s
QUARTER ENDED YEAR TO DATE
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12/31/2003 12/31/2002 % CHANGE(6) 12/31/2003 12/31/2002 % CHANGE(6)
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Total Cellular/PCS Customers(1) 24,027 21,925 9.6% 24,027 21,925 9.6%
Net Customer Additions - Cellular/PCS 642 (121) NM 2,116 359 488.0%
M&A Activity, Partitioned Customers and/or Other Adjs. -- 31 14 32
Churn - Cellular/PCS(2) 2.8% 2.7% +10BP 2.7% 2.8% -10BP
ARPU - Cellular/PCS(3) $ 49.03 $ 51.84 (5.4)% $ 51.32 $ 52.14 (1.6)%
Minutes Of Use Per Cellular/PCS Subscriber 475 406 17.0% 446 390 14.4%
Licensed POPs - Cellular/PCS(4) 236 219 236 219
Penetration - Cellular/PCS(5) (in millions) 10.8% 10.1% 10.8% 10.1%
Total Cingular Interactive Customers 789 817 (3.5)% 789 817 (3.5)%
Net Customer Additions - Cingular Interactive 1 16 (93.9)% (29) 84 (133.7)%
In an effort to be consistent with emerging industry practices, the income
statement for all periods presented has been changed to reflect billings to our
customers for the Universal Service Fund (USF) and other regulatory fees as
"Service revenues" and the related payments into the associated regulatory funds
as "Cost of services" expenses. Operating income and net income for all periods
have been unaffected.
Notes:
(1) Cellular/PCS subscribers include customers served through reseller
agreements.
(2) Cellular/PCS subscriber churn is calculated by dividing the aggregate
number of cellular/PCS subscribers who cancel service during each month in
a period by the total number of cellular/PCS subscribers at the beginning
of each month in that period.
(3) ARPU is defined as cellular/PCS service revenues during the period divided
by average cellular/PCS subscribers during the period.
(4) Licensed POPs refers to the number of people residing in areas where we and
our partners, Salmon and T-Mobile USA, Inc., have licenses to provide
cellular or PCS service, including the New York City metropolitan area, and
in areas where we have not yet commenced service, such as the Salt Lake
City area.
(5) Penetration calculation is based upon licensed operational POPs of 222
million. The New York City metropolitan area is included in the penetration
calculation, beginning in the third quarter of 2002.
(6) The percentage change for the number of customers and net customer
additions is calculated based upon the actual whole numbers.
CINGULAR WIRELESS LLC
EXHIBITS - Cingular Wireless LLC Selected Financial Statements
and Operating Data
EXHIBIT 99.2
CINGULAR WIRELESS LLC BALANCE SHEET - amounts in millions (unaudited)
12/31/2003 12/31/2002 INCR(DECR) % + / -
------------ ------------ ------------ ------------
(audited)
ASSETS
Current assets:
Cash and cash equivalents 1,139 908 231 25.4%
Accounts receivable - net of allowances for
uncollectibles 1,592 1,520 72 4.7%
Inventory 273 126 147 116.7%
Prepaid expenses and other current assets 296 177 119 67.2%
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TOTAL CURRENT ASSETS 3,300 2,731 569 20.8%
Property, plant and equipment - net 10,939 10,146 793 7.8%
Intangible assets - net 8,773 8,538 235 2.8%
Other assets 2,514 2,707 (193) -7.1%
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TOTAL ASSETS 25,526 24,122 1,404 5.8%
LIABILITIES AND MEMBERS' CAPITAL
Current liabilities:
Debt maturing within one year 95 45 50 111.1%
Accounts payable and accrued liabilities 3,092 2,742 350 12.8%
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TOTAL CURRENT LIABILITIES 3,187 2,787 400 14.4%
Long-term debt to affiliates 9,678 9,678 -- 0.0%
Long-term debt to external parties 2,914 2,868 46 1.6%
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TOTAL LONG-TERM DEBT 12,592 12,546 46 0.4%
Other noncurrent liabilities 604 681 (77) -11.3%
Minority interests in consolidated entities 659 567 92 16.2%
Members' capital 8,484 7,541 943 12.5%
------------ ------------ ------------ ------------
TOTAL LIABILITIES AND MEMBERS' CAPITAL 25,526 24,122 1,404 5.8%