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
-------------------------------- --------------------------------
3/31/2004 3/31/2003 % CHANGE 3/31/2004 3/31/2003 % CHANGE
-------------------------------- --------------------------------
Operating revenues:
Service revenues $ 3,558 $ 3,394 4.8% $ 3,558 $ 3,394 4.8%
Equipment sales 384 244 57.4% 384 244 57.4%
Total operating revenues 3,942 3,638 8.4% 3,942 3,638 8.4%
Operating expenses:
Cost of services 922 821 12.3% 922 821 12.3%
Cost of equipment sales 537 396 35.6% 537 396 35.6%
Selling, general and administrative 1,372 1,217 12.7% 1,372 1,217 12.7%
Depreciation and amortization 552 488 13.1% 552 488 13.1%
Total operating expenses 3,383 2,922 15.8% 3,383 2,922 15.8%
Operating income 559 716 (21.9%) 559 716 (21.9%)
Interest expense 198 225 (12.0%) 198 225 (12.0%)
Minority interest expense 27 24 12.5% 27 24 12.5%
Equity in net income (loss) of affiliates (105) (72) 45.8% (105) (72) 45.8%
Other income (expense), net 4 26 (84.6%) 4 26 (84.6%)
Income before income tax and cumulative effect of acctng. chg. 233 421 (44.7%) 233 421 (44.7%)
Provision for income taxes 6 2 200.0% 6 2 200.0%
Income before cumulative effect of accounting change 227 419 (45.8%) 227 419 (45.8%)
- -----------------------------------------------------------------------------------------------------------------------------------
SELECTED FINANCIAL AND OPERATING DATA FOR CINGULAR WIRELESS - amounts in millions, except customer data in 000s
- -----------------------------------------------------------------------------------------------------------------------------------
QUARTER ENDED YEAR TO DATE
---------------------------------- ----------------------------------
3/31/2004 3/31/2003 % CHANGE (6) 3/31/2004 3/31/2003 % CHANGE (6)
---------------------------------- ----------------------------------
Total Cellular/PCS Customers (1) 24,618 22,114 11.3% 24,618 22,114 11.3%
Net Customer Additions - Cellular/PCS 554 189 192.5% 554 189 192.5%
M&A Activity, Partitioned Customers and/or Other Adjs. 37 -- 37 --
Churn - Cellular/PCS (2) 2.7% 2.6% +10BP 2.7% 2.6% +10BP
ARPU - Cellular/PCS (3) $ 47.95 $ 50.76 (5.5%) $ 47.95 $ 50.76 (5.5%)
Minutes Of Use Per Cellular/PCS Subscriber 488 405 20.5% 488 405 20.5%
Licensed POPs - Cellular/PCS (4) 240 235 240 235
Penetration - Cellular/PCS (5) 10.9% 10.0% 10.9% 10.0%
Total Cingular Interactive Customers 768 835 (8.1%) 768 835 (8.1%)
Net Customer Additions - Cingular Interactive (21) 17 (222.6%) (21) 17 (222.6%)
In an effort to be consistent with emerging industry practices, the income
statement for all periods presented reflects 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 for 1Q04 is based on licensed "operational" POP's
of 225 million.
(6) The percentage change for the number of customers and net customer
additions is calculated based upon the actual whole numbers
- ------------------------------------------------------------------------------------------------------------------------------------
CINGULAR WIRELESS LLC BALANCE SHEET - amounts in millions (unaudited)
- ------------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------
3/31/2004 12/31/2003 INCR(DECR) % + / -
-------------------------------------------------------------------
(audited)
ASSETS
Current assets:
Cash and cash equivalents 944 1,139 (195) -17.1%
Accounts receivable - net of allowances for
uncollectibles 1,576 1,592 (16) -1.0%
Inventory 194 273 (79) -28.9%
Prepaid expenses and other current assets 389 296 93 31.4%
TOTAL CURRENT ASSETS 3,103 3,300 (197) -6.0%
Property, plant and equipment - net 10,755 10,939 (184) -1.7%
Intangible assets - net 8,772 8,773 (1) 0.0%
Other assets 2,497 2,514 (17) -0.7%
TOTAL ASSETS 25,127 25,526 (399) -1.6%
LIABILITIES AND MEMBERS' CAPITAL
Current liabilities:
Debt maturing within one year 89 95 (6) -6.3%
Accounts payable and accrued liabilities 2,471 3,092 (621) -20.1%
TOTAL CURRENT LIABILITIES 2,560 3,187 (627) -19.7%
Long-term debt to affiliates 9,678 9,678 - 0.0%
Long-term debt to external parties 2,914 2,914 - 0.0%
TOTAL LONG-TERM DEBT 12,592 12,592 - 0.0%
Other noncurrent liabilities 615 604 11 1.8%
Minority interests in consolidated entities 649 659 (10) -1.5%
Members' capital 8,711 8,484 227 2.7%
TOTAL LIABILITIES AND MEMBERS' CAPITAL 25,127 25,526 (399) -1.6%